Investment in Real Estate

3 Months Ended

Mar. 31, 2025

Acquisitions

During the three months ended March 31, 2025, we acquired two industrial properties totaling approximately 0.8 million square feet of GLA from the Joint Venture (see Note 5), as well as one land parcel from a third-party seller. We accounted for the properties and land parcel as asset acquisitions, with related transaction costs capitalized to the respective asset bases. The following table summarizes the allocation of the aggregate purchase price, excluding transaction costs, to the major asset classes for the industrial properties and land parcel acquired during the three months ended March 31, 2025:


Land	$	34,365
Building and Improvements	88,136
In-Place Leases	8,325


Other Assets	4,891

Total Purchase Price	$	135,717

Sales

During the three months ended March 31, 2025, we sold two industrial properties totaling approximately 0.1 million square feet of GLA. Gross proceeds from the sales were $11,860 and the gain on sale of real estate attributable to these sales was $6,844.

Real Estate Held for Sale

As of March 31, 2025, we had one industrial property held for sale totaling approximately 0.02 million square feet of GLA.