CNSREIT-AR-2024 Final - Flipbook - Page 127
The Company acquired the following properties during the year ended December 31, 2024 ($ in thousands):
Property Name
Marketplace at
Highland Village
Des Peres Corners
Village on Pooler
Parkway
Bridgepointe
Shopping Center
Ownership
Interest
Number of
Properties
99%
1
80%
1
99%
1
99%
1
4
Purchase
Property Type
Acquisition Date
Price(1)
Community
Dallas, TX
shopping center
January 22, 2024 $
42,331
Grocery-anchored
St. Louis, MO
shopping center
July 25, 2024
38,405
Community
Savannah, GA
shopping center September 18, 2024
37,321
Community
San Mateo, CA shopping center December 20, 2024
127,433
$ 245,490
Location
_________
(1)
Purchase price includes acquisition costs and other acquisition-related adjustments.
The following table summarizes the purchase price allocation for the properties acquired during the year ended December
31, 2024 ($ in thousands):
Amount
Buildings and improvements
Land
In-place lease intangibles
Above-market lease intangibles
Below-market lease intangibles
Total purchase price
$
$
158,387
74,268
37,361
839
(25,365)
245,490
The weighted-average amortization periods for lease intangible assets and liabilities acquired in connection with the
Company9s acquisitions during the year ended December 31, 2024 were as follows:
In-place lease
intangibles
Weighted-average amortization periods (in years)
Above-market lease Below-market lease
intangibles
intangibles
6.0
6.0
19.4
Note 4. Investments in Real Estate-Related Securities
As of December 31, 2024, the Company9s investments in real estate-related securities consisted of shares of common stock
of publicly-listed REITs, real estate-related preferred securities and real estate-related debt securities. As described in Note
2, the Company records its investments in real estate-related securities at fair value on its consolidated balance sheets.
As of December 31, 2023, the Company had not acquired any real estate-related securities.
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