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DISPOSITIONS | 3 Months Ended
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Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
DISPOSITIONS | DISPOSITIONS The Company did not sell any properties during the three months ended March 31, 2023. The Company closed on the following disposition during the three months ended March 31, 2022 (dollars in thousands):
Date |  | Property Name |  | MSA |  | Property Type |  | Square Footage |  | Sales Price |  | Gain
January 26, 2022 |  | Hamilton Crossing Centre |  | Indianapolis |  | Redevelopment |  | — |  |  | $ | 6,900 |  |  | $ | 3,168 |
As of March 31, 2023, the Company had entered into a contract to sell Kingwood Commons, a 158,172 square foot multi-tenant retail property located in the Houston MSA. This property qualified for held for sale accounting treatment upon meeting all applicable GAAP criteria during the quarter ended March 31, 2023, at which time depreciation and amortization were ceased. In addition, the assets and liabilities associated with this property are separately classified as held for sale in the accompanying consolidated balance sheet as of March 31, 2023. No properties qualified for held for sale accounting treatment as of December 31, 2022. The following table presents the assets and liabilities associated with the investment property, Kingwood Commons, classified as held for sale as of March 31, 2023 (in thousands):
| March 31, 2023
Assets |
Investment properties, at cost | $ | 34,856 |
Less: accumulated depreciation | (12,367) |
Net investment properties | 22,489 |
Tenant and other receivables | 123 |
Deferred costs, net | 104 |
Prepaid and other assets | 11 |
Assets associated with investment property held for sale | $ | 22,727 |
Liabilities |
Accounts payable and accrued expenses | $ | 277 |
Deferred revenue and other liabilities | 662 |
Liabilities associated with investment property held for sale | $ | 939 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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