Real Estate Investments

6 Months Ended

Jun. 30, 2021

2.	Real Estate Investments

The Company had no acquisitions of consolidated shopping centers during the six months ended June 30, 2021, as compared to those detailed in the table below for the six months ended June 30, 2020:

(in thousands)

Six months ended June 30, 2020

Date Purchased

Property Name

City/State

Property Type

Ownership

Purchase

Price

Debt

Assumed,

Net of

Premiums

Intangible

Assets

Intangible

Liabilities

1/1/20

Country Walk Plaza ⁽¹⁾

Miami, FL

Operating

100%

39,625

16,359

3,294

2,452

⁽¹⁾ The purchase price presented above reflects the price for 100% of the property, of which the Company previously owned a 30% equity interest prior to acquiring the partner’s interest and gaining control.

Subsequent to June 30, 2021, the Company completed the acquisition of the partner’s 80% interest in the seven properties held in the USAA partnership for a total purchase price of $178 million, including the $84 million assumption of the partner’s share of mortgage debt. The Company expects to recognize promote income of approximately $13 million.