Dispositions and Assets Held for Sale

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

During the year ended December 31, 2020, the Company disposed of 10 shopping centers, six partial shopping centers and one land parcel for aggregate net proceeds of $121.4 million resulting in aggregate gain of $32.6 million and aggregate impairment of $8.0 million. In addition, during the year ended December 31, 2020, the Company received aggregate net proceeds of $1.0 million and resolved contingencies of $0.5 million from previously disposed assets resulting in aggregate gain of $1.5 million.

During the year ended December 31, 2019, the Company disposed of 24 shopping centers and three partial shopping centers for aggregate net proceeds of $288.5 million resulting in aggregate gain of $53.4 million and aggregate

impairment of $16.4 million. In addition, during the year ended December 31, 2019, the Company received aggregate net proceeds of $1.6 million from previously disposed assets resulting in aggregate gain of $1.4 million.

As of December 31, 2020, the Company had two properties and one partial property held for sale. As of December 31, 2019, the Company had two properties and two partial properties held for sale. The following table presents the assets and liabilities associated with the properties classified as held for sale:


Assets	December 31, 2020		December 31, 2019
Land	$	5,447	$	3,356
Buildings and improvements	16,481		31,650
Accumulated depreciation and amortization	(4,693)		(13,044)
Real estate, net	17,235		21,962
Other assets	779		209
Assets associated with real estate assets held for sale	$	18,014	$	22,171

Liabilities
Below-market leases	$	—	$	415

Liabilities associated with real estate assets held for sale(1)	$	—	$	415

(1) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s Consolidated Balance Sheets.

There were no discontinued operations for the years ended December 31, 2020, 2019 and 2018 as none of the dispositions represented a strategic shift in the Company’s business that would qualify as discontinued operations.