Quarterly report pursuant to Section 13 or 15(d)

Real Estate (Tables)

v3.20.1
Real Estate (Tables)
3 Months Ended
Mar. 31, 2020
Real Estate [Abstract]  
Schedule of investment properties
Investment properties consist of the following (in thousands):
 
March 31, 2020
 
December 31, 2019
 
(unaudited)
 
 
Land and land improvements
$
98,957

 
$
100,599

Buildings and improvements
360,620

 
366,082

Investment properties at cost
459,577

 
466,681

Less accumulated depreciation
(52,762
)
 
(50,466
)
    Investment properties, net
$
406,815

 
$
416,215

Schedule of dispositions
The following properties were sold during the three months ended March 31, 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

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

As of March 31, 2020 and December 31, 2019, assets held for sale and associated liabilities consisted of the following (in thousands):
 
 
March 31, 2020
 
December 31, 2019
 
 
(unaudited)
 
 
Investment properties, net
 
$
6,189

 
$
1,651

Rents and other tenant receivables, net
 
9

 
77

Deferred costs and other assets, net
 
60

 
9

Total assets held for sale
$
6,258

 
$
1,737

 
 
March 31, 2020
 
December 31, 2019
 
 
(unaudited)
 
 
Loans payable
 
$
4,004

 
$
1,974

Accounts payable, accrued expenses and other liabilities
 
45

 
52

Total liabilities associated with assets held for sale
$
4,049

 
$
2,026