Note 4 - Real Estate (Tables)

12 Months Ended

Dec. 31, 2019

Additional Information Regarding Total Consideration for Properties

The following table provides additional information regarding the total consideration for the properties (dollars in thousands).

Cash paid to prior owners	$	910
Value of common shares issued		57,645
Value of OP Units issued		6,135
Prior owner debt and preferred equity paid off at closing		64,945
Transaction costs		4,216
Cash acquired in acquisitions		(3,081	)
Total Cost of Acquisitions	$	130,770

Relative Fair Value of Assets Acquired and Liabilities Assumed

The following table reflects the relative fair value of assets acquired and liabilities assumed related to the ten properties acquired by the Company on December 27, 2019 and December 31, 2019 (dollars in thousands).

Land	$	34,350
Building		103,238
Building and site improvements		15,734
Intangible lease assets		20,222
Total real estate assets acquired		173,544
Other assets		2,725
Total assets acquired		176,269
Accounts payable and accrued expenses		(6,814	)
Intangible lease liabilities		(3,451	)
Deferred tax liabilities		(16,985	)
Assumed mortgage and other indebtedness		(18,249	)
Total liabilities assumed		(45,499	)
Assets acquired net of liabilities assumed	$	130,770