Schedule of investment properties |
Investment properties consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
September 30, 2019 |
|
December 31, 2018 |
|
(unaudited) |
|
|
Land and land improvements |
$ |
100,135 |
|
|
$ |
101,696 |
|
Buildings and improvements |
365,686 |
|
|
374,499 |
|
Investment properties at cost |
465,821 |
|
|
476,195 |
|
Less accumulated depreciation |
(47,483 |
) |
|
(40,189 |
) |
Investment properties, net |
$ |
418,338 |
|
|
$ |
436,006 |
|
|
Schedule of dispositions |
As of September 30, 2019 and December 31, 2018, assets held for sale and associated liabilities, excluding discontinued operations, consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2019 |
|
December 31, 2018 |
|
|
(unaudited) |
|
|
Investment properties, net |
|
$ |
1,702 |
|
|
$ |
4,912 |
|
Rents and other tenant receivables, net |
|
52 |
|
|
72 |
|
Above market leases, net |
|
— |
|
|
420 |
|
Deferred costs and other assets, net |
|
2 |
|
|
228 |
|
Total assets held for sale, excluding discontinued operations |
$ |
1,756 |
|
|
$ |
5,632 |
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2019 |
|
December 31, 2018 |
|
|
(unaudited) |
|
|
Loans payable |
|
$ |
1,974 |
|
|
$ |
3,818 |
|
Accounts payable |
|
86 |
|
|
240 |
|
Total liabilities associated with assets held for sale, excluding discontinued operations |
$ |
2,060 |
|
|
$ |
4,058 |
|
As of September 30, 2019 and December 31, 2018, assets held for sale and associated liabilities for discontinued operations, consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2019 |
|
December 31, 2018 |
|
|
(unaudited) |
|
|
Investment properties, net |
|
$ |
— |
|
|
$ |
486 |
|
Total assets held for sale, discontinued operations |
|
$ |
— |
|
|
$ |
486 |
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2019 |
|
December 31, 2018 |
|
|
(unaudited) |
|
|
Loans payable |
|
$ |
— |
|
|
$ |
460 |
|
Accounts payable |
|
— |
|
|
2 |
|
Total liabilities associated with assets held for sale, discontinued operations |
$ |
— |
|
|
$ |
462 |
|
The following properties were sold during the nine months ended September 30, 2019 and 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Disposal Date |
|
Property |
|
Contract Price |
|
Gain (loss) |
|
Net Proceeds |
|
|
|
|
(in thousands, unaudited) |
July 12, 2019 |
|
Perimeter Square |
|
$ |
7,200 |
|
|
$ |
(81 |
) |
|
$ |
— |
|
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 |
|
September 27, 2018 |
|
Shoppes at Eagle Harbor |
|
5,705 |
|
|
1,270 |
|
|
2,071 |
|
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 |
|
|
1,042 |
|
|
1,160 |
|
|