v3.26.3
REAL ESTATE ACTIVITY (Tables)
 9 Months Ended
Sep. 30, 2026
Disposal Group, Including Discontinued Operations [Line Items]  
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed The following table summarizes our real estate acquisition activity (dollars in thousands):
Nine Months Ended September 30,
20262025
Number of properties acquired(1)
13 11 
Number of outparcels and land for future development acquired(2)
4 2 
Contract price$448,667 $280,784 
Total price of acquisitions(3)
454,072 282,038 
(1)During the nine months ended September 30, 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.
Schedule of Asset Acquisition
The aggregate purchase price of the assets acquired during the nine months ended September 30, 2026 and 2025 was allocated as follows (in thousands):
September 30, 2026September 30, 2025
ASSETS
   Land and improvements$117,650 $87,470 
   Building and improvements325,365 180,003 
   In-place lease assets37,779 25,511 
   Above-market lease assets8,577 2,045 
Total assets489,371 295,029 
LIABILITIES
   Below-market lease liabilities35,299 12,991 
Total liabilities35,299 12,991 
Net assets acquired$454,072 $282,038 
Schedule of Acquired Intangible Leases
The weighted-average amortization periods for in-place, above-market, and below-market lease intangibles acquired during the nine months ended September 30, 2026 and 2025 were as follows (in years):
September 30, 2026September 30, 2025
Acquired in-place leases117
Acquired above-market leases79
Acquired below-market leases2013
Disposal Group, Disposed of by Sale, Not Discontinued Operations  
Disposal Group, Including Discontinued Operations [Line Items]  
Schedule of Real Estate Dispositions The following table summarizes our real estate disposition activity for the nine months ended September 30, 2026 and 2025 (dollars in thousands):
Nine Months Ended September 30,
20262025
Number of properties sold9 2 
Number of outparcels sold2 1 
Contract price$173,994 $34,080 
Proceeds from sale of real estate, net(1)(2)
167,862 15,154 
Gain on disposal of property, net
66,812 9,798 
(1)Total proceeds from sale of real estate, net includes closing costs less credits and secured loans received.
(2)In January 2025, we sold a property for $24.9 million and provided secured financing, receiving a loan receivable of $17.4 million. The loan receivable was paid in full during the nine months ended September 30, 2026.
Held for Sale  
Disposal Group, Including Discontinued Operations [Line Items]  
Schedule of Real Estate Dispositions A summary of assets and liabilities for the properties classified as held for sale as of September 30, 2026 is below (in thousands):
September 30, 2026
ASSETS
Total investment in real estate assets, net $147,644 
Other assets, net 4,504 
Total assets $152,148 
LIABILITIES
Below-market lease liabilities, net $3,683 
Accounts payable and other liabilities 2,400 
Total liabilities $6,083