Quarterly report pursuant to Section 13 or 15(d)

Real Estate (Tables)

v3.19.2
Real Estate (Tables)
6 Months Ended
Jun. 30, 2019
Real Estate [Abstract]  
Schedule of investment properties
Investment properties consist of the following (in thousands):
 
June 30, 2019
 
December 31, 2018
 
(unaudited)
 
 
Land and land improvements
$
100,351

 
$
101,696

Buildings and improvements
367,056

 
374,499

Investment properties at cost
467,407

 
476,195

Less accumulated depreciation
(44,901
)
 
(40,189
)
    Investment properties, net
$
422,506

 
$
436,006

Schedule of dispositions
The following properties were sold during the six months ended June 30, 2019 and 2018:

Disposal Date
 
Property
 
Contract Price
 
Gain
 
Net Proceeds
 
 
 
 
(in thousands, unaudited)
March 18, 2019
 
Graystone Crossing
 
$
6,000

 
$
1,452

 
$
1,744

February 7, 2019
 
Harbor Pointe Land Parcel (1.28 acres)
 
550

 

 
19

January 11, 2019
 
Jenks Plaza
 
2,200

 
387

 
1,840

June 19, 2018
 
Laskin Road Land Parcel (1.5 acres)
 
2,858

 
903

 
2,747

January 12, 2018
 
Chipotle Ground Lease at Conyers Crossing
 
1,270

 
1,055

 
1,160

As of June 30, 2019 and December 31, 2018, assets held for sale and associated liabilities, excluding discontinued operations, consisted of the following (in thousands):
 
 
June 30, 2019
 
December 31, 2018
 
 
(unaudited)
 
 
Investment properties, net
 
$
6,634

 
$
4,912

Rents and other tenant receivables, net
 
111

 
72

Above market leases, net
 

 
420

Deferred costs and other assets, net
 
54

 
228

Total assets held for sale, excluding discontinued operations
$
6,799

 
$
5,632

 
 
June 30, 2019
 
December 31, 2018
 
 
(unaudited)
 
 
Loans payable
 
$
6,497

 
$
3,818

Below market leases, net
 
1

 

Accounts payable
 
352

 
240

Total liabilities associated with assets held for sale, excluding discontinued operations
$
6,850

 
$
4,058

As of June 30, 2019 and December 31, 2018, assets held for sale and associated liabilities for discontinued operations, consisted of the following (in thousands):
 
 
June 30, 2019
 
December 31, 2018
 
 
(unaudited)
 
 
Investment properties, net
 
$

 
$
486

Total assets held for sale, discontinued operations
 
$

 
$
486

 
 
June 30, 2019
 
December 31, 2018
 
 
(unaudited)
 
 
Loans payable
 
$

 
$
460

Accounts payable
 

 
2

Total liabilities associated with assets held for sale, discontinued operations
$

 
$
462