Company: EGP
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0000049600-25-000109
Chunk: 86

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 8
Chunk 86
---
 8,751 The table above includes sales of operating properties.  During the year ended December 31, 2024, the Company also sold 5.4 acres of land in two markets for $4,261,000 and recognized gains on the sales of $362,000.  The Company did not sell any land during the nine months ended September 30, 2025. The gains on sales of non-operating real estate are included in Other on the Consolidated Statements of Income and Comprehensive Income.

The Company did not consider its sales in 2025 or 2024 to be disposals of a component of an entity or a group of components of an entity representing a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. 

(9)OTHER ASSETS

 A summary of the Company’s Other assets, net follows: September 30,2025December 31,2024 (In thousands)Leasing costs (principally commissions)$184,807 173,582 Accumulated amortization of leasing costs                                                       (70,348)(63,179)Leasing costs (principally commissions), net of accumulated amortization114,459 110,403 Acquired in-place lease intangibles                                                                                  65,143 59,101 Accumulated amortization of acquired in-place lease intangibles(26,842)(20,443)Acquired in-place lease intangibles, net of accumulated amortization38,301 38,658 Acquired above market lease intangibles                                                                                  619 564 Accumulated amortization of acquired above market lease intangibles(448)(376)Acquired above market lease intangibles, net of accumulated amortization171 188 Straight-line rents receivable96,619 83,722 Accounts receivable8,004 10,033 Interest rate swap assets11,165 21,953 Right of use assets — Office leases (operating)1,803 2,228 Goodwill990 990 Escrow deposits and prepaid costs for pending transactions2,766 3,336 Prepaid insurance9,122 6,469 Receivable for insurance proceeds2,542 3,863 Prepaid expenses and other assets