During the nine months ended September 30, 2026, the Company acquired the following operating properties, through direct asset acquisitions (in thousands):


			Purchase Price
Property Name	Location	Month Acquired	Cash		GLA*
Pompano Marketplace (1)	Pompano Beach, FL	Jul-26	$	53,078		239
Sunshine Plaza	Fort Lauderdale, FL	Jul-26		55,715		241
North Haven Leasehold Interest	North Haven, CT	Aug-26		8,539		-
			$	117,332		480

* Gross leasable area (“GLA”)

(1)

The Company had a mortgage receivable of $35.0 million related to this property, which was repaid by the seller at closing.

During the nine months ended September 30, 2025, the Company acquired the following operating properties, through direct asset acquisitions or consolidation due to change in control resulting from the purchase of additional interests in certain operating properties previously held in an unconsolidated joint venture (in thousands):


					Purchase Price
Property Name	Location	Month Acquired	Cash		Debt		Other		Total		GLA
Markets at Town Center (1)	Jacksonville, FL	Jan-25	$	108,238	$	-	$	-	$	108,238		254
College Park Land (2)	Las Vegas, NV	Jan-25		12,746		-		1,428		14,174		-
Francisco Center Land (2)	Las Vegas, NV	Jan-25		11,588		-		593		12,181		-
Tanasbourne Village (3) (4)	Hillsboro, OR	Aug-25		38,171		31,926		7,076		77,173		207
			$	170,743	$	31,926	$	9,097	$	211,766		461

(1)

The Company had a mortgage receivable of $15.0 million related to this property, which was repaid by the seller at closing.

(2)

The Company acquired the fee interest in two properties under finance ground lease agreements through the exercise of a call option for an aggregate purchase price of $24.2 million. In addition, the Company had a mortgage receivable of $3.4 million, which was repaid by the seller at closing. This transaction also resulted in a decrease in Other assets of $26.2 million and a decrease in Other liabilities of $24.2 million on the Company’s Condensed Consolidated Balance Sheets related to the finance right-of-use assets and lease liabilities (included in Other). See Footnote 8 of the Notes to Condensed Consolidated Financial Statements for further details.

(3)

Other includes the Company’s previously held equity investment in the Prudential Investment Program and gain on change in control. The Company evaluated this transaction pursuant to ASC Topic 810 Consolidation. The Company recognized a gain on change in control of interest of $5.7 million resulting from the fair value adjustment associated with the Company’s previously held equity interest, which is included in Equity

The purchase price for these acquisitions was allocated to real estate and related intangible assets acquired and liabilities assumed, as applicable, in accordance with our accounting policies for asset acquisitions. The purchase price allocation for properties acquired/consolidated during the nine months ended September 30, 2026 and 2025 were as follows (in thousands):


	Allocation as of September 30, 2026			Weighted Average Useful Life (in Years)		Allocation as of September 30, 2025			Weighted Average Useful Life (in Years)
Land	$	31,995		n/a		$	58,526		n/a
Buildings		73,970			50.0		123,490			50.0
Building improvements		5,700			45.0		7,615			45.0
Tenant improvements		4,262			7.4		8,580			5.7
In-place leases		12,477			5.3		19,547			5.0
Above-market leases		1,355			9.3		1,063			5.5
Below-market leases		(12,427	)		23.7		(7,740	)		17.1
Mortgage fair value adjustment		-			-		500		0.8
Other assets		-		n/a			649		n/a
Other liabilities		-		n/a			(464	)	n/a
Net assets acquired	$	117,332				$	211,766

The table below summarizes the Company’s disposition activity relating to consolidated operating properties and parcels for the nine months ended September 30, 2026 and 2025 (dollars in millions):


	Nine Months Ended September 30,
	2026		2025
Aggregate sales price/gross fair value (1)	$	188.8	$	71.6
Gain on sale of properties (2)	$	106.5	$	43.5
Number of operating properties sold		3		2
Number of parcels sold		9		3

(1)

Includes $27.8 million and $10.9 million of Internal Revenue Code 26 U.S.C. §1031 proceeds held in escrow through sale of real estate interests as of September 30, 2026 and September 30, 2025, respectively.

(2)

Before noncontrolling interests of $1.0 million and $0.1 million for the nine months ended September 30, 2026 and 2025, respectively, and taxes of $0.4 million for the nine months ended September 30, 2025.

In addition, during 2026, the Company deconsolidated a joint venture that holds a development project and related entitlements, located in Daly City, CA, for which the Company is no longer the primary beneficiary after a reconsideration event due to outside partner capital contributions. This VIE is now accounted for as a preferred equity investment with a gross value of $48.7 million. The Company evaluated this transaction pursuant to the ASC Topic 810 Consolidation and as a result, no gain on change in control of interest was recognized as there was no fair value adjustment associated with the Company’s previously held controlling interest. See Footnotes 5 and 12 of the Notes to Condensed Consolidated Financial Statements for additional disclosure.

During the nine months ended September 30, 2026 and 2025, the Company recognized aggregate impairment charges related to adjustments to property carrying values of $9.1 million and $8.6 million, respectively, for which the Company’s estimated fair values were primarily based upon signed contracts or letters of intent from third-party offers. These adjustments to property carrying values were recognized in connection with the Company’s efforts to market certain properties and management’s assessment as to the likelihood and timing of such potential transactions. See Footnote 13 of the Notes to Condensed Consolidated Financial Statements for fair value measurements disclosure.

At September 30, 2026, the Company had an operating property classified as held-for-sale at a net carrying amount of $2.5 million (including accumulated depreciation and amortization of $7.0 million), which is included in Other assets on the Company’s Condensed Consolidated Balance Sheets.