The following table summarizes the amounts of identified assets acquired and liabilities assumed at the acquisition date:
|
|
|
|
|
Recognized amounts of identifiable assets acquired and liabilities assumed: |
|
Land |
|
$ |
35,489 |
|
Building and improvements |
|
|
119,884 |
|
In-place leases (1) |
|
|
22,545 |
|
Intangible lease assets and other assets: |
|
|
|
Above-market leases (1) |
|
|
9,416 |
|
Deferred lease costs (1) |
|
|
6,232 |
|
Assumed working capital assets as of the acquisition date |
|
|
2,352 |
|
Accounts payable and accrued liabilities: |
|
|
|
Below-market leases (1) |
|
|
(13,825 |
) |
Assumed working capital liabilities as of the acquisition date |
|
|
(5,078 |
) |
Total |
|
$ |
177,015 |
|
(1)At the acquisition date, the weighted average amortization period of the acquired intangible assets and liabilities was 8.1 years for in-place leases, 4.5 years for above-market leases, 12.3 years for deferred lease costs and 16.2 years for below-market leases. The following table summarizes the amounts of identified assets acquired and liabilities assumed at the acquisition date:
|
|
|
|
|
Recognized amounts of identifiable assets acquired and liabilities assumed: |
|
Land |
|
$ |
57,600 |
|
Buildings and improvements |
|
|
328,923 |
|
Developments in progress |
|
|
587 |
|
Cash and cash equivalents |
|
|
4,366 |
|
Restricted cash |
|
|
30,499 |
|
Receivables |
|
|
5,044 |
|
Intangible lease assets and other assets |
|
|
130,261 |
|
Mortgage and other indebtedness, net |
|
|
(446,355 |
) |
Accounts payable and accrued liabilities |
|
|
(59,173 |
) |
Total identifiable net assets |
|
|
51,752 |
|
Purchase price |
|
|
(25,025 |
) |
Gain on consolidation |
|
$ |
26,727 |
|
|