Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 37

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 15
Chunk 37
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482 Accumulated amortization of acquired above market lease intangibles(376)(318)Acquired above market lease intangibles, net of accumulated amortization188 164 Straight-line rents receivable                                                                          83,722 72,360 Accounts receivable                                                                  10,033 9,984 Interest rate swap assets21,953 27,366 Right of use assets — Office leases (operating) 2,228 2,828 Goodwill990 990 Escrow deposits and prepaid costs for pending transactions3,336 745 Prepaid insurance6,469 7,208 Receivable for insurance proceeds3,863 1,425 Prepaid expenses and other assets                                                     8,316 7,569  Total Other assets$290,159 251,939 

(5)UNSECURED BANK CREDIT FACILITIES

The Company’s borrowings on unsecured bank credit facilities are detailed below:  December 31, 20242023 (In thousands)Unsecured bank credit facilities — variable rate, carrying amount$— — Unamortized debt issuance costs(3,595)(1,520)Unsecured bank credit facilities, net of debt issuance costs$(3,595)(1,520)

59

EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

On June 13, 2024, EastGroup entered into amended and restated credit agreements related to its $625,000,000 and $50,000,000unsecured bank credit facilities, to extend the maturity dates from July 30, 2025 to July 31, 2028. There were no other materialchanges to the credit facilities, which are outlined below.The Company has a $625,000,000 unsecured bank credit facility with a group of 10 banks, which has a maturity date of July 31, 2028. The credit facility contains options for two six-month extensions (at the Company’s election) and an additional $625,000,000 accordion (with agreement by all parties). The interest rate on each tranche is reset on a monthly basis and as of December 31, 2024, was Term Secured Overnight Financing Rate (“SOFR”) plus 76.5 basis points with an annual facility