v3.26.1
Acquisition of Real Estate
 6 Months Ended
Jun. 30, 2026
Acquisition of Real Estate  
Acquisition of Real Estate

Note 3 – Acquisition of Real Estate

Parkside at Summers Corner

During 2026, the Company acquired, with full ownership interest, an additional 40 units at Parkside at Summers Corner for an aggregate purchase price of $10.3 million. Units are to be acquired in tranches as construction is completed, and as of June 30, 2026, the Company acquired 52 of the total 100 units it has committed to purchase.

Purchase Price Allocation

The real estate acquisitions described above have been accounted for as asset acquisitions. The purchase prices were allocated to the acquired assets based on their respective estimated fair values at the acquisition dates. The following table summarizes the allocation of the purchase price to the assets acquired for acquisitions completed during the six months ended June 30, 2026 and 2025 (amounts in thousands):

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Six Months Ended June 30,

Purchase Price Allocation

  ​ ​ ​

2026

  ​ ​ ​

2025

Land

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$

1,055

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$

4,240

Building

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8,729

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41,287

Building improvements

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289

​

 

1,018

Land improvements

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411

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9,458

Furniture and fixtures

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215

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1,644

Other intangible assets, net

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—

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​

1,003

Total assets acquired (1)

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$

10,699

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$

58,650

(1)For 2026, the $10.7 million of total assets acquired includes $0.3 million of acquisition expenses that have been capitalized as the 40 units acquired at Parkside at Summers Corner have been accounted for as asset acquisitions. For 2025, the $58.7 million of total assets acquired includes $2.1 million of acquisition expenses that have been capitalized as the acquisitions have been accounted for as asset acquisitions.