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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2015
Subsequent Event [Line Items]  
Subsequent Events [Text Block]
SUBSEQUENT EVENTS

In October 2015, EastGroup issued $75 million of senior unsecured private placement notes with two insurance companies. The 10-year notes have a weighted average interest rate of 3.98% with semi-annual interest payments. The notes will not be and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

EastGroup is currently under contract to purchase 335,000 square feet of business distribution buildings in Austin, Texas, in two separate transactions for a total purchase price of approximately $31.6 million. The transactions are expected to close during the fourth quarter of 2015.