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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2022
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

NOTE 25. SUBSEQUENT EVENTS

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The Company reviewed all subsequent events and transactions through October 27, 2022, the date the consolidated financial statements were issued.

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Property Acquisition

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On October 14, 2022, the Company completed the acquisition of West Broad Village, a 392,000 square foot property located in the Short Pump submarket of Richmond, Virginia for a purchase price of $93.9 million. The purchase price represents a going-in cap rate above the range of the Company’s guidance for initial cash yields. The acquisition was funded using $35.0 million of restricted cash generated from the Company’s previously completed property dispositions, available unrestricted cash, and draws from the Company’s unsecured revolving credit facility. The acquisition was structured as a reverse like-kind exchange in order to account for possible future dispositions of income properties by the Company.

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Shelf Registration

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On October 11, 2022, the Company filed a shelf registration statement on Form S-3 (File No. 333-267819), relating to the registration and potential issuance of its common stock, preferred stock, debt securities, warrants, rights, and units with a maximum aggregate offering price of up to $500.0 million. The Securities and Exchange Commission declared the Form S-3 effective on October 26, 2022, at which time the offering of unsold securities under the Company’s previous shelf registration statement on Form S-3 (File No. 333-254970), declared effective by the Securities and Exchange Commission on April 19, 2021, was deemed terminated pursuant to Rule 415(a)(6) under the Securities Act of 1933, as amended.

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There were no other reportable subsequent events or transactions.