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REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Tables)
 6 Months Ended
Jun. 30, 2025
Asset Acquisition [Abstract]  
Acquired Assets and Assumed Liabilities, prior year
The following table summarizes the allocation of the total consideration for the acquired assets and assumed liabilities in connection with the acquisitions identified in the table above which were acquired during the year ended December 31, 2024.
ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2024
Cost
 (In thousands)
Land $41,815 
Buildings and building improvements312,911 
Tenant and other improvements27,049 
Right of use assets — Ground leases (operating) 21,836 
Total real estate properties acquired403,611 
In-place lease intangibles (1)
27,102 
Above market lease intangibles (1)
121 
Below market lease intangibles (2)
(18,987)
Operating lease liabilities — Ground leases (3)
(21,836)
Total assets acquired, net of liabilities assumed$390,011 
(1)In-place lease intangibles and above market lease intangibles are each included in Other assets, net on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition.
(2)Below market lease intangibles are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition.
(3)Operating lease liabilities — Ground leases are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition.
Real Estate Properties Acquired, prior year
During 2024, EastGroup acquired the following properties:
REAL ESTATE PROPERTIES ACQUIRED IN 2024
LocationSizeDate
Acquired
Cost (1)
  (Square feet) (In thousands)
Operating properties acquired
Spanish Ridge Industrial ParkLas Vegas, NV231,000 01/23/2024$54,859 
147 ExchangeRaleigh, NC274,000 05/03/202452,945 
Hays Commerce Center 3 & 4Austin, TX179,000 08/19/202435,781 
Riverpoint Industrial ParkAtlanta, GA779,000 11/12/202487,576 
DFW Global Logistics Centre 5-8 (2)
Dallas, TX492,000 11/21/202475,852 
Akimel Gateway (2)
Phoenix, AZ519,000 12/26/202482,998 
Total operating property acquisitions (3)(4)
2,474,000 $390,011 
(1)Cost is calculated in accordance with FASB ASC 805, Business Combinations, and represents the sum of the purchase price, closing costs and capitalized acquisition costs.
(2)This operating property is located on land subject to a ground lease. The right of use assets for ground leases are included in Real estate properties on the Consolidated Balance Sheets.
(3)Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets.
(4)Excludes acquired development land as discussed below.