Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 30

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 15
Chunk 30
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ively to financial statements issued for reporting periods after the effective date, or (2) retrospectively to all prior periods presented in the financial statements. EastGroup does not expect the adoption to have a material impact on its financial condition, results of operations or disclosures. (q) Classification of Book Overdraft on Consolidated Statements of Cash FlowsThe Company classifies changes in book overdraft in which the bank has not advanced cash to the Company to cover outstanding checks as an operating activity.  Such amounts are included in Accounts payable, accrued expenses and prepaid rent in the Operating Activities section on the Consolidated Statements of Cash Flows.

(2)REAL ESTATE PROPERTIES AND DEVELOPMENT AND VALUE-ADD PROPERTIES

The Company’s Real estate properties and Development and value-add properties at December 31, 2024 and 2023 were as follows: December 31,20242023(In thousands)Real estate properties:     Land                                                                  $888,140 814,364    Buildings and building improvements                                                                  3,815,850 3,336,615    Tenant and other improvements                                                                  761,061 684,573    Right of use assets — Ground leases (operating) (1)38,393 17,996 Development and value-add properties (2)674,472 639,647  6,177,916 5,493,195    Less accumulated depreciation                                                                  (1,415,576)(1,273,723) $4,762,340 4,219,472 (1)See Ground Leases discussion below for information regarding the Company’s right of use assets for ground leases.(2)Value-add properties are defined in Note 1(e). 

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EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

A summary of real estate properties acquired for the years ended December 31, 2024, 2023 and 2022 follows:(Unaudited)REAL ESTATE PROPERTIES ACQUIREDLocationSizeDate AcquiredCost (1)  (Square feet) (In thousands)2024OPERATING PROPERTIES ACQUIREDSpanish Ridge Industrial ParkLas Vegas, NV231,000 01/23/2024$54,859 147 Exchange