Impairments

On a periodic basis, management assesses whether there are any indicators, including property operating performance, changes in anticipated holding period and general market conditions, that the value of the Company’s real estate assets (including any related intangible assets or liabilities) may be impaired. If management determines that the carrying value of a real estate asset is impaired, a loss is recognized to reflect the estimated fair value.

The Company recognized the following impairments during the three months ended March 31, 2019:



Three Months Ended March 31, 2019
Property Name⁽¹⁾	Location	GLA	Impairment Charge
Brice Park	Reynoldsburg, OH	158,565	$	3,112
		158,565	$	3,112


⁽¹⁾	The Company recognized an impairment charge based upon a change in the estimated hold period of this property in connection with the Company’s capital recycling program.

The Company recognized the following impairments during the three months ended March 31, 2018:



Three Months Ended March 31, 2018
Property Name⁽¹⁾	Location	GLA	Impairment Charge
Southland Shopping Plaza⁽²⁾	Toledo, OH	285,278	$	6,942
Roundtree Place⁽²⁾	Ypsilanti, MI	246,620	3,772
Skyway Plaza	St. Petersburg, FL	110,799	3,639
Pensacola Square⁽²⁾	Pensacola, FL	142,767	1,345
Crossroads Centre⁽²⁾	Fairview Heights, IL	242,752	204
		1,028,216	$	15,902


⁽¹⁾	The Company recognized impairment charges based upon a change in the estimated hold period of these properties in connection with the Company’s capital recycling program.


⁽²⁾	The Company disposed of this property during the year ended December 31, 2018.

The Company can provide no assurance that material impairment charges with respect to its Portfolio will not occur in future periods. See Note 3 for additional information regarding impairment charges taken in connection with the Company’s dispositions. See Note 8 for additional information regarding the fair value of operating properties which have been impaired.