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Note 5 - Dispositions of Real Estate | 12 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | 5. Dispositions of Real Estate: The table below summarizes the Company’s disposition activity relating to operating properties and parcels, in separate transactions (dollars in millions):
|  | Year Ended December 31, |
|  |  | 2021 (1) |  |  |  | 2020 |  |  |  | 2019 (2) |
Aggregate sales price/gross fair value |  | $ | 612.4 |  |  | $ | 31.8 |  |  | $ | 344.7 |
Gain on sale of properties (3) |  | $ | 30.8 |  |  | $ | 6.5 |  |  | $ | 79.2 |
Number of operating properties sold/deconsolidated |  |  | 13 |  |  |  | 3 |  |  |  | 20 |
Number of parcels sold |  |  | 10 |  |  |  | 4 |  |  |  | 9 |
(1) | During 2021, the Company purchased its partner’s 70.0% remaining interest in Jamestown Portfolio, which is comprised of six property interests. The Company then entered into a joint venture with Blackstone Real Estate Income Trust, Inc. (“BREIT”) in which it contributed these six properties for a gross sales price of $425.8 million, including $170.0 million of non-recourse mortgage debt. As a result, the Company no longer consolidates these six property interests and recognized a loss on change in control of interests of $0.4 million. The Company has a 50.0% investment in this joint venture ($130.1 million as of the date of deconsolidation), included in Investments in and advances to real estate joint ventures on the Company’s Consolidated Balance Sheets.
(2) | Includes the sale of a land parcel at a development project located in Dania Beach, FL for a sales price of $32.5 million, which resulted in a gain of $4.3 million.
(3) | Before noncontrolling interests of $3.0 million and taxes of $2.2 million, after utilization of net operating loss carryforwards, for the year ended December 31, 2021.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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