ACQUISITIONS

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

ACQUISITIONS

ACQUISITIONS

The Company includes the results of operations of real estate assets acquired in the consolidated statements of operations from the date of the related acquisition. The pro forma effect of these acquisitions was not material. The Company did not acquire any consolidated shopping center properties during the years ended December 31, 2014 and 2016. The following is a summary of the Company's acquisitions during the year ended December 31, 2015:

Purchase Date	Property	Property  Type	Location	Ownership Percentage Acquired	Cash		Purchase Price
June 2015	Mayfaire Town Center and Community Center (1)	Mall	Wilmington, NC	100%	$	191,988	$	191,988

(1) The Company acquired Mayfaire Town Center and Community Center on June 18, 2015 for $191,988 utilizing availability on its lines of credit. Since the acquisition date, $8,982 of revenue and $410 in income related to Mayfaire Town Center and Community Center is included in the consolidated financial statements for the year ended December 31, 2015. The Company subsequently sold Mayfaire Community Center in December 2015. See Note 4 for more information.

The following table summarizes the final allocation of the estimated fair values of the assets acquired and liabilities assumed as of the June 2015 acquisition date for Mayfaire Town Center and Community Center:

	2015
Land	$	39,598
Buildings and improvements	139,818
Tenant improvements	3,331
Above-market leases	393
In-place leases	22,673
Total assets	205,813
Below-market leases	(13,825		)
Net assets acquired	$	191,988