Quarterly report pursuant to Section 13 or 15(d)

Real Estate (Tables)

v3.21.1
Real Estate (Tables)
3 Months Ended
Mar. 31, 2021
Real Estate [Abstract]  
Schedule of investment properties
Investment properties consist of the following (in thousands):
March 31, 2021 December 31, 2020
  (unaudited)  
Land and land improvements $ 96,758  $ 97,117 
Buildings and improvements 353,264  354,738 
Investment properties at cost 450,022  451,855 
Less accumulated depreciation (61,253) (59,191)
    Investment properties, net $ 388,769  $ 392,664 
Schedule of dispositions
As of March 31, 2021 and December 31, 2020, assets held for sale and associated liabilities consisted of the following (in thousands):
March 31, 2021 December 31, 2020
(unaudited)
Investment properties, net $ 10,547  $ 12,593 
Rents and other tenant receivables, net 32  132 
Above market leases, net 153  153 
Deferred costs and other assets, net 127  194 
Total assets held for sale $ 10,859  $ 13,072 
March 31, 2021 December 31, 2020
(unaudited)
Loans payable $ 10,745  $ 12,838 
Below market leases, net —  25 
Accounts payable, accrued expenses and other liabilities 194  261 
Total liabilities associated with assets held for sale $ 10,939  $ 13,124 

The following properties were sold during the three months ended March 31, 2021 and 2020:
Disposal Date Property Contract Price Gain (loss) Net Proceeds
(in thousands, unaudited)
March 25, 2021 Berkley Shopping Center and Berkley Land Parcel (0.75 acres) $ 4,150  $ 176  $ 3,937 
January 21, 2020 St. Matthews 1,775  (26) 1,665