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Property Dispositions and Assets Held for Sale | 3 Months Ended
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Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Property Dispositions and Assets Held for Sale |
3. | Property Dispositions and Assets Held for Sale
The following table provides a summary of consolidated shopping centers and land parcels sold during the periods set forth below:
|  | Three months ended March 31, |
(in thousands, except number sold data) |  | 2024 |  |  | 2023 |
Net proceeds from sale of real estate investments |  | $ | 30,033 |  |  |  | 2,923 |
Gain on sale of real estate, net of tax |  |  | 11,403 |  |  |  | 250 |
Number of operating properties sold |  |  | 1 |  |  |  | — |
Number of land parcels sold |  |  | — |  |  |  | 1 |
Percent interest sold |  | 100% |  |  | 100% |
As of March 31, 2024 the Company had one property held for sale. As of December 31, 2023 the Company had one property held for sale that was subsequently sold during the period as noted in the table above. There were no liabilities associated with the properties classified as held for sale. The following table presents the assets associated with the properties classified as held for sale:
(in thousands) |  | March 31, 2024 |  |  | December 31, 2023 |
Land and improvements |  | $ | 27,003 |  |  |  | 9,120 |
Buildings and improvements |  |  | 9,425 |  |  |  | 12,551 |
Less: accumulated depreciation |  |  | (2,928 | ) |  |  | (3,461 | )
Real estate, net |  |  | 33,500 |  |  |  | 18,210 |
Other assets, net |  |  | 72 |  |  |  | 668 |
Assets associated with real estate assets held for sale |  | $ | 33,572 |  |  |  | 18,878 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent + Details
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