Schedule of investment properties |
Investment properties consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2020 |
|
December 31, 2019 |
|
(unaudited) |
|
|
Land and land improvements |
$ |
96,934 |
|
|
$ |
100,599 |
|
Buildings and improvements |
353,943 |
|
|
366,082 |
|
Investment properties at cost |
450,877 |
|
|
466,681 |
|
Less accumulated depreciation |
(56,499) |
|
|
(50,466) |
|
Investment properties, net |
$ |
394,378 |
|
|
$ |
416,215 |
|
|
Schedule of dispositions |
As of September 30, 2020 and December 31, 2019, assets held for sale and associated liabilities consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2020 |
|
December 31, 2019 |
|
|
(unaudited) |
|
|
Investment properties, net |
|
$ |
14,695 |
|
|
$ |
1,651 |
|
Rents and other tenant receivables, net |
|
45 |
|
|
77 |
|
Above market leases, net |
|
152 |
|
|
— |
|
Deferred costs and other assets, net |
|
172 |
|
|
9 |
|
Total assets held for sale |
$ |
15,064 |
|
|
$ |
1,737 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2020 |
|
December 31, 2019 |
|
|
(unaudited) |
|
|
Loans payable |
|
$ |
14,620 |
|
|
$ |
1,974 |
|
Below market leases, net |
|
24 |
|
|
— |
|
Accounts payable, accrued expenses and other liabilities |
|
268 |
|
|
52 |
|
Total liabilities associated with assets held for sale |
$ |
14,912 |
|
|
$ |
2,026 |
|
The following properties were sold during the nine months ended September 30, 2020 and 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Disposal Date |
|
Property |
|
Contract Price |
|
Gain (loss) |
|
Net Proceeds |
|
|
|
|
(in thousands, unaudited) |
January 21, 2020 |
|
St. Matthews |
|
$ |
1,775 |
|
|
$ |
(26) |
|
|
$ |
1,665 |
|
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 |
|
|