---
schema_version: "secwatch.filing_event.v1"
accession: "0000049600-22-000072"
form_type: "8-K"
ticker: "EGP"
cik: "0000049600"
company_name: "EASTGROUP PROPERTIES INC"
filed_at: "2022-06-02T23:59:59+00:00"
generated_at: "2026-06-25T05:15:20.837068+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# EastGroup acquires Tulloch Corp portfolio in CA for ~1.87M shares + $60M debt assumption

## Summary
- Acquired 14 industrial properties (1.7M sq ft) and two land parcels in San Francisco and Sacramento markets.
- Consideration: ~1.87M shares of EGP common stock at $190/share plus assumption of $60M loan (to be repaid).
- Portfolio is 100% leased to 37 tenants, annualized NOI ~$17.1M; average lease term <3 years.
- Land parcels allow future development of ~215,000 sq ft; CA portfolio now 7.6M sq ft (21% of total ABR).
- Also sold a 42,000 sq ft service center in Houston for ~$13M in Q2 2022.

## SEC filing metadata
- accession: 0000049600-22-000072
- form_type: 8-K
- ticker: EGP
- cik: 0000049600
- company_name: EASTGROUP PROPERTIES INC
- filed_at: 2022-06-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 3.02, 8.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/49600/000004960022000072/0000049600-22-000072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/49600/000004960022000072/egp-20220601.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000049600-22-000072
- JSON: https://secwatch.observer/filing/0000049600-22-000072.json
- Plain text: https://secwatch.observer/filing/0000049600-22-000072.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.