Business Combination Effective February 12, 2016, we acquired a partners 49% interest in an unconsolidated joint venture associated with two centers in Colorado, which resulted in the consolidation of these centers (see Note 18 for additional information). Management has determined that this transaction qualified as a business combination to be accounted for under the acquisition method. Accordingly, the assets and liabilities of this transaction were recorded in our Consolidated Balance Sheet at their estimated fair values as of the effective date. Fair value of assets acquired, liabilities assumed and equity interests were estimated using market-based measurements, including cash flow and other valuation techniques. The fair value measurements are based on both significant inputs for similar assets and liabilities in comparable markets and significant inputs that are not observable in the markets in accordance with our fair value measurements accounting policy. Key assumptions include third-party appraisals; a minority interest discount rate of 20% ; cash flow discount rates ranging from 6.5% to 8% ; a terminal capitalization rate for similar properties ranging from 6% to 7.5% ; and factors that we believe market participants would consider in estimating fair value. The result of this transaction is included in our Consolidated Statements of Operations beginning February 12, 2016. The following table summarizes the business combination, including the assets acquired and liabilities assumed as indicated (in thousands): February 12, 2016 Fair value of our equity interest before business combination $ 22,514 (1) Gain recognized on equity interest remeasured to fair value $ 37,383 (2) Amounts recognized for assets and liabilities assumed: Assets: Property $ 58,665 Unamortized lease costs 8,936 Accrued rent and accounts receivable 102 Cash and cash equivalents 3,555 Other, net 4,992 Liabilities: Debt, net (48,727 ) Accounts payable and accrued expenses (1,339 ) Other, net (3,670 ) Total net assets $ 22,514 ________