v3.26.3
Real Estate (Tables)
 9 Months Ended
Sep. 30, 2026
Real Estate [Abstract]  
Summary of Acquisitions Transactions The following table summarizes these acquisitions ($ in thousands):

 

 

300 South Tryon

 

 

The Link

 

Closing Purchase Price

 

$

317,500

 

 

$

218,000

 

Acquisition Date

 

February 2026

 

 

July 2025

 

Square Feet

 

 

638,000

 

 

 

292,000

 

Market

 

Charlotte

 

 

Dallas

 

Purchase Price Allocation

 

 

 

 

 

 

Tangible assets

 

 

 

 

 

 

Operating properties

 

$

306,470

 

 

$

222,890

 

Intangible and other assets

 

 

 

 

 

 

In-place leases (1)

 

 

26,467

 

 

 

19,260

 

Prepaid expenses

 

 

171

 

 

 

48

 

Above market rents

 

 

125

 

 

 

—

 

 

 

26,763

 

 

 

19,308

 

Intangible and other liabilities

 

 

 

 

 

 

Below market leases (1)

 

 

(14,505

)

 

 

(21,409

)

Accounts payable and other liabilities

 

 

(1,467

)

 

 

(5,775

)

 

 

(15,972

)

 

 

(27,184

)

 

 

 

 

 

 

Total net assets acquired (2)

 

$

317,261

 

 

$

215,014

 

 

(1)
The intangible assets and liabilities will be amortized over a weighted average remaining lease term of 6 and 9.3 years from the acquisition dates for 300 South Tryon and for The Link, respectively.
(2)
For 300 South Tryon, total net assets acquired represents net purchase price, including acquisition costs of $1.1 million, as well as net operating liabilities acquired through closing prorations of $1.5 million. For The Link, total net assets acquired represents net purchase price, including acquisition costs of $280,000 as well as net operating liabilities of $3.3 million.
Disposal Groups, Including Discontinued Operations

Held for Sale

The major classes of assets and liabilities of properties held for sale as of September 30, 2026 (303 Tremont land parcel), and December 31, 2025 (Harborview Plaza and 303 Tremont land parcel), were as follows ($ in thousands):

 

Real estate assets and other assets held for sale

 

2026

 

 

2025

 

Operating properties, net of accumulated depreciation of $15,341 in 2025

 

$

—

 

 

$

35,682

 

Land

 

 

18,854

 

 

 

18,854

 

Notes and accounts receivable

 

 

—

 

 

 

272

 

Deferred rents receivable

 

 

—

 

 

 

2,082

 

Intangible assets, net of accumulated amortization of $682 in 2025

 

 

—

 

 

 

138

 

Other assets

 

 

4,403

 

 

 

4,461

 

 

$

23,257

 

 

$

61,489

 

 

 

 

 

 

 

Liabilities of real estate assets held for sale

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$

114

 

 

$

1,769

 

Deferred income

 

 

—

 

 

 

266

 

Intangible liabilities, net of accumulated amortization of $140 in 2025

 

 

—

 

 

 

49

 

Other liabilities

 

 

—

 

 

 

765

 

 

$

114

 

 

$

2,849