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Real Estate Investments
9 Months Ended
Sep. 30, 2022
Business Combinations [Abstract]  
Real Estate Investments

 

2.

Real Estate Investments

The following tables detail the shopping centers acquired or land acquired for development during the periods set forth below:

 

(in thousands)

 

Nine months ended September 30, 2022

 

Date Purchased

 

Property Name

 

City/State

 

Property
Type

 

Regency Ownership

 

Purchase
Price
(1)

 

 

Debt
Assumed,
Net of
Discounts
(1)

 

 

Intangible
Assets
(1)

 

 

Intangible
Liabilities
 (1)

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3/1/2022

 

Glenwood Green

 

Old Bridge, NJ

 

Development

 

70%

 

$

11,000

 

 

 

 

 

 

 

 

 

 

3/31/2022

 

Island Village

 

Bainbridge Island, WA

 

Operating

 

100%

 

 

30,650

 

 

 

 

 

 

2,900

 

 

 

6,839

 

4/1/2022

 

Apple Valley (2)

 

Apple Valley, MN

 

Operating

 

100%

 

 

34,070

 

 

 

 

 

 

4,773

 

 

 

490

 

4/1/2022

 

Cedar Commons (2)

 

Minneapolis, MN

 

Operating

 

100%

 

 

29,330

 

 

 

 

 

 

4,369

 

 

 

58

 

4/1/2022

 

Corral Hollow (2)

 

Tracy, CA

 

Operating

 

100%

 

 

40,600

 

 

 

 

 

 

3,410

 

 

 

74

 

4/1/2022

 

Shops at the Columbia (2)

 

Washington, DC

 

Operating

 

100%

 

 

14,000

 

 

 

 

 

 

889

 

 

 

181

 

5/6/2022

 

Baederwood Shoppes

 

Jenkintown, PA

 

Operating

 

80%

 

 

51,603

 

 

 

22,779

 

 

 

5,796

 

 

 

1,062

 

Total consolidated

 

 

 

 

 

 

 

$

211,253

 

 

 

22,779

 

 

 

22,137

 

 

 

8,704

 

Unconsolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3/25/2022

 

Naperville Plaza

 

Naperville, IL

 

Operating

 

20%

 

 

52,380

 

 

 

22,074

 

 

 

4,336

 

 

 

814

 

6/24/2022

 

Baybrook East 1B

 

Houston, TX

 

Development

 

50%

 

 

5,540

 

 

 

 

 

 

 

 

 

 

Total unconsolidated

 

 

 

 

 

 

 

$

57,920

 

 

 

22,074

 

 

 

4,336

 

 

 

814

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total property acquisitions

 

 

 

 

 

 

 

$

269,173

 

 

 

44,853

 

 

 

26,473

 

 

 

9,518

 

 

(1)
Amounts reflected for purchase price and allocation are reflected at 100%.
(2)
These properties were part of the four-property portfolio purchased from an existing unconsolidated real estate partnership, RegCal, LLC, in which the Company held a 25% ownership interest. The basis allocated to Real estate assets was $93.2 million on a combined basis, including the Company's carry over basis related to its 25% previously owned equity investment in the partnership.

 

(in thousands)

 

Nine months ended September 30, 2021

 

Date Purchased

 

Property Name

 

City/State

 

Property
Type

 

Regency Ownership

 

Purchase
Price
(1)

 

 

Debt
Assumed,
Net of
Discounts
(1)

 

 

Intangible
Assets
(1)

 

 

Intangible
Liabilities
 (1)

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7/30/2021

 

Willa Springs (2)

 

Winter Springs, FL

 

Operating

 

100%

 

$

34,500

 

 

 

17,682

 

 

 

1,562

 

 

 

643

 

8/1/2021

 

Dunwoody Hall (2)

 

Dunwoody, GA

 

Operating

 

100%

 

 

32,000

 

 

 

14,612

 

 

 

2,255

 

 

 

973

 

8/1/2021

 

Alden Bridge (2)

 

Woodlands, TX

 

Operating

 

100%

 

 

43,000

 

 

 

27,529

 

 

 

3,198

 

 

 

2,308

 

8/1/2021

 

Hasley Canyon Village (2)

 

Castaic, CA

 

Operating

 

100%

 

 

31,000

 

 

 

16,941

 

 

 

2,037

 

 

 

 

8/1/2021

 

Shiloh Springs (2)

 

Garland, TX

 

Operating

 

100%

 

 

19,500

 

 

 

 

 

 

1,825

 

 

 

1,079

 

8/1/2021

 

Bethany Park Place (2)

 

Allen, TX

 

Operating

 

100%

 

 

18,000

 

 

 

10,800

 

 

 

996

 

 

 

1,732

 

8/1/2021

 

Blossom Valley (2)

 

Mountain View, CA

 

Operating

 

100%

 

 

44,000

 

 

 

23,611

 

 

 

2,895

 

 

 

732

 

Total consolidated

 

 

 

 

 

 

 

$

222,000

 

 

 

111,175

 

 

 

14,768

 

 

 

7,467

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total property acquisitions

 

 

 

 

 

 

 

$

222,000

 

 

 

111,175

 

 

 

14,768

 

 

 

7,467

 

 

(1)
Amounts reflected for purchase price and allocation are reflected at 100%.
(2)
These properties were part of the seven-property portfolio purchased from an existing unconsolidated real estate partnership, US Regency Retail I, LLC. The basis allocated to Real estate assets was $192.9 million, including the Company's carryover basis related to its 20% previously owned equity interest in the partnership.