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Property Dispositions and Assets Held for Sale | 9 Months Ended
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Sep. 30, 2025
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 operating properties and land parcels sold during the periods set forth below:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
(in thousands, except number sold data) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Net proceeds from sale of real estate investments |  | $ | 43,919 |  |  |  | 11,409 |  |  | $ | 51,084 |  |  |  | 103,568 |
Gain on sale of real estate, net of tax |  |  | 6,198 |  |  |  | 11,360 |  |  |  | 6,005 |  |  |  | 33,844 |
Provision for impairment of real estate sold |  |  | 3,374 |  |  |  | — |  |  |  | 4,636 |  |  |  | — |
Number of operating properties sold |  |  | 5 |  |  |  | 1 |  |  |  | 6 |  |  |  | 4 |
Number of land parcels sold |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |
Percent interest sold |  | 100% |  |  | 100% |  |  | 100% |  |  | 100% |
The following table presents the assets associated with the properties classified as held for sale as of September 30, 2025:
(in thousands) |  | September 30, 2025 |
Land and improvements |  | $ | 34,091 |
Buildings and improvements |  |  | 27,536 |
Less: accumulated depreciation |  |  | (9,005 | )
Real estate, net |  |  | 52,622 |
Other assets, net |  |  | 950 |
Assets associated with real estate assets held for sale |  | $ | 53,572 |
As of September 30, 2025 the Company had one operating property and one land parcel classified as held for sale. There were no liabilities associated with these properties. Both the operating property and the land parcel were subsequently sold in October 2025. As of December 31, 2024 the Company did no t have any of its properties classified as held for sale.

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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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