v3.26.3
REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Tables)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Asset Acquisition [Abstract]    
Real Estate Properties Acquired [Table]
During the nine months ended September 30, 2026, EastGroup acquired the following properties:
REAL ESTATE PROPERTIES ACQUIRED IN 2026
LocationSizeDate
Acquired
Cost (1)
(Square feet)(In thousands)
Operating properties acquired (2)(3)
Legend Point Logistics Crossing 2 & 3Jacksonville, FL177,000 02/18/2026$38,130 
Airgate Mesa Corporate CenterPhoenix, AZ143,000 07/16/202627,688 
Harris Ridge Business CenterAustin, TX388,000 07/23/202682,268 
Total operating property acquisitions708,000 $148,086 
(1)Cost is calculated in accordance with FASB ASC 805 and represents the sum of the purchase price, closing costs and capitalized acquisition costs.
(2)Operating properties are defined as stabilized real estate properties (land, buildings and improvements) in the Company’s operating portfolio and are included in Real estate properties on the Consolidated Balance Sheets.
(3)Excludes acquired development land as discussed below.
During 2025, EastGroup acquired the following properties:
REAL ESTATE PROPERTIES ACQUIRED IN 2025
LocationSizeDate
Acquired
Cost (1)
(Square feet)(In thousands)
Operating properties acquired (2)(3)
LifeScience Logistics CenterRaleigh, NC251,000 07/08/2025$47,150 
Lumley Logistics CenterRaleigh, NC67,000 07/15/202514,174 
McKinney Airport Trade CenterDallas, TX320,000 09/19/202560,641 
EastGroup Point at CheyenneLas Vegas, NV101,000 12/09/202521,134 
Total operating property acquisitions739,000 $143,099 
(1)Cost is calculated in accordance with FASB ASC 805 and represents the sum of the purchase price, closing costs and capitalized acquisition costs.
(2)Operating properties are defined as stabilized real estate properties (land, buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets.
(3)Excludes acquired development land as discussed below.
Acquired Assets and Assumed Liabilities [Table]
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 nine months ended September 30, 2026.
ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2026
Cost
(In thousands)
Land $24,760 
Buildings and building improvements110,052 
Tenant and other improvements4,717 
Total real estate properties acquired139,529 
In-place lease intangibles (1)
10,516 
Above market lease intangibles (1)
226 
Below market lease intangibles (2)
(2,185)
Total assets acquired, net of liabilities assumed$148,086 
(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.
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, 2025.
ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2025
Cost
(In thousands)
Land $31,590 
Buildings and building improvements101,505 
Tenant and other improvements6,800 
Total real estate properties acquired139,895 
In-place lease intangibles (1)
10,331 
Above market lease intangibles (1)
207 
Below market lease intangibles (2)
(7,334)
Total assets acquired, net of liabilities assumed$143,099 
(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.