Assets classified as held for sale

9 Months Ended

Sep. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

As of September 30, 2023, we had four properties and one land parcel aggregating 312,660 RSF that were classified as held for sale in our consolidated financial statements. For additional information on the sales of real estate assets that were previously classified as held for sale, refer to the “Sales of real estate assets and impairment charges” section of Note 3 – “Investments in real estate” to our unaudited consolidated financial statements.

The disposal of properties classified as held for sale does not represent a strategic shift that has (or will have) a major effect on our operations or financial results and therefore does not meet the criteria for classification as a discontinued operation. We cease depreciation of our properties upon their classification as held for sale. Refer to the “Real estate sales” subsection of the “Investments in real estate” section in Note 2 – “Summary of significant accounting policies” for additional information.

The following is a summary of net assets as of September 30, 2023 and December 31, 2022 for our real estate investments that were classified as held for sale as of each respective date (in thousands):


	September 30, 2023		December 31, 2022
Total assets	$	80,192	$	117,197
Total liabilities	(3,201)		(2,034)
Total accumulated other comprehensive loss	2,562		898
Net assets classified as held for sale	$	79,553	$	116,061