SUBSEQUENT EVENTS (Notes)

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Subsequent Events [Text Block]

SUBSEQUENT EVENTS

In October 2021, the Company repaid (with no penalty) a mortgage loan with a balance of $33.1 million, an interest rate of 4.09% and an original maturity date of January 5, 2022.

Subsequent to September 30, 2021, EastGroup acquired 157.7 acres of development land in Charlotte for $11.5 million. The Company plans to construct seven buildings totaling 1,107,000 square feet on the site, known by the Company as Skyway Logistics Park Land.

Also in October 2021, the Company acquired 8.8 acres of land in Austin for $4.0 million. The site is currently being leased through December 2022; however, once the lease expires, the Company plans to tear down the existing building and construct two buildings totaling 129,000 square feet.