v3.26.1
REAL ESTATE ACTIVITY
 3 Months Ended
Mar. 31, 2026
Real Estate Investments, Net [Abstract]  
REAL ESTATE ACTIVITY
4. REAL ESTATE ACTIVITY
Acquisitions—The following table summarizes our real estate acquisition activity (dollars in thousands):
Three Months Ended March 31,
20262025
Number of properties acquired(1)
5 5 
Number of outparcels and land for future development acquired(2)
1 — 
Contract price$125,502 $138,425 
Total price of acquisitions(3)
126,427 139,107 
(1)During the three months ended March 31, 2026, we acquired a property adjacent to one that was already wholly-owned. Therefore, the property was not an addition to our total property count.
(2)Outparcels acquired are adjacent to shopping centers that we own.
(3)Total price of acquisitions includes closing costs less credits and assumed liabilities.
Subsequent to March 31, 2026, we acquired three properties for $58.9 million.
The aggregate purchase price of the assets acquired during the three months ended March 31, 2026 and 2025 was allocated as follows (in thousands):
March 31, 2026March 31, 2025
ASSETS
   Land and improvements$32,937 $42,335 
   Building and improvements89,195 89,885 
   In-place lease assets11,248 11,387 
   Above-market lease assets1,529 977 
Total assets134,909 144,584 
LIABILITIES
   Below-market lease liabilities8,482 5,477 
Total liabilities8,482 5,477 
Net assets acquired$126,427 $139,107 
The weighted-average amortization periods for in-place, above-market, and below-market lease intangibles acquired during the three months ended March 31, 2026 and 2025 were as follows (in years):
March 31, 2026March 31, 2025
Acquired in-place leases87
Acquired above-market leases86
Acquired below-market leases1612
Property Dispositions—The following table summarizes our real estate disposition activity for the three months ended March 31, 2026 and 2025 (dollars in thousands):
Three Months Ended March 31,
20262025
Number of properties sold2 1 
Contract price$22,250 $24,850 
Proceeds from sale of real estate, net(1)(2)
20,947 6,466 
Gain on disposal of property, net
6,817 5,609 
(1)Total proceeds from sale of real estate, net includes closing costs less credits and secured loans received.
(2)During the three months ended March 31, 2025, one of our property sales included a seller financing component. We sold the property for $24.9 million and provided secured financing, receiving a note receivable of $17.4 million.
Subsequent to March 31, 2026, we sold one parcel of land for $6.7 million.