Assets classified as held for sale

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

As of March 31, 2024, we had seven properties aggregating 1.0 million 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 “Sales of real estate assets” in 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 “Real estate sales” in Note 2 – “Summary of significant accounting policies” for additional information.

The following is a summary of net assets as of March 31, 2024 and December 31, 2023 for our real estate investments that were classified as held for sale as of each respective date (in thousands):


	March 31, 2024		December 31, 2023
Total assets	$	200,291	$	194,223
Total liabilities	(23,207)		(4,750)
Total accumulated other comprehensive income	2,222		1,960
Net assets classified as held for sale	$	179,306	$	191,433