XML 27 R15.htm IDEA: XBRL DOCUMENT
v3.23.3

DISPOSITIONS AND IMPAIRMENT CHARGES | 9 Months Ended
--- | ---
Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract] |
DISPOSITIONS AND IMPAIRMENT CHARGES | DISPOSITIONS AND IMPAIRMENT CHARGES The Company closed on the following dispositions during the nine months ended September 30, 2023 (dollars in thousands):
Date |  | Property Name |  | MSA |  | Property Type |  | Square Footage |  | Sales Price |  | Gain (Loss)
May 8, 2023 |  | Kingwood Commons |  | Houston |  | Multi-tenant retail |  | 158,172 |  |  | $ | 27,350 |  |  | $ | 4,736 |
June 8, 2023 |  | Pan Am Plaza & Garage |  | Indianapolis |  | Land & garage |  | — |  |  | 52,025 |  |  | 23,635 |
September 11, 2023 |  | Reisterstown Road Plaza |  | Dallas |  | Multi-tenant retail |  | 376,683 |  |  | 48,250 |  |  | (5,903) |
|  |  |  |  |  |  |  | 534,855 |  |  | $ | 127,625 |  |  | $ | 22,468 |
The Company closed on the following dispositions during the nine months ended September 30, 2022 (dollars in thousands):
Date |  | Property Name |  | MSA |  | Property Type |  | Square Footage |  | Sales Price |  | Gain
January 26, 2022 |  | Hamilton Crossing Centre |  | Indianapolis |  | Redevelopment(1) |  | — |  |  | $ | 6,900 |  |  | $ | 3,168 |
June 16, 2022 |  | Plaza Del Lago |  | Chicago |  | Multi-tenant retail(2) |  | 100,016 |  |  | 58,650 |  |  | 23,958 |
|  |  |  |  |  |  |  | 100,016 |  |  | $ | 65,550 |  |  | $ | 27,126 |
(1)We sold a portion of the redevelopment at Hamilton Crossing Centre. (2)Plaza Del Lago also contains 8,800 square feet of residential space comprised of 18 multifamily rental units. As of September 30, 2023, the Company had entered into a contract to sell Eastside, a 43,640 square foot multi-tenant retail property located in the Dallas MSA. This property qualified for held-for-sale accounting treatment upon meeting all applicable GAAP criteria during the quarter ended September 30, 2023, at which time depreciation and amortization 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 September 30, 2023. No properties qualified for held-for-sale accounting treatment as of December 31, 2022. As of September 30, 2023, in conjunction with classifying Eastside as held for sale, the Company recorded the asset at the lower of cost or fair value less estimated costs to sell, which was approximately $14.1 million. The estimated fair value of Eastside was based upon the expected sales price from an executed sales contract and determined to be a Level 3 input within the fair value hierarchy. As a result, we recorded a $0.5 million impairment charge during the three months ended September 30, 2023. Eastside was sold on October 24, 2023 for a gross sales price of $14.4 million. The following table presents the assets and liabilities associated with the investment property, Eastside, classified as held for sale as of September 30, 2023 (in thousands):
| September 30, 2023 |
Assets |  |
Investment properties, at cost | $ | 15,016 |  |
Less: accumulated depreciation | (1,218) |  |
Net investment properties | 13,798 |  |
Tenant and other receivables | 100 |  |
Deferred costs, net | 411 |  |
Assets associated with investment property held for sale | $ | 14,309 |  |
Liabilities |  |
Accounts payable and accrued expenses | $ | 398 |  |
Deferred revenue and other liabilities | 188 |  |
Liabilities associated with investment property held for sale | $ | 586 |  |
There were no discontinued operations for the nine months ended September 30, 2023 and 2022 as none of the dispositions represented a strategic shift that has had, or will have, a material effect on our operations or financial results.

X
- Definition Disposal Groups, Including Discontinued Operations, Disclosure And Asset Impairment Charges + References No definition available. + Details
Name: | krg_DisposalGroupsIncludingDiscontinuedOperationsDisclosureAndAssetImpairmentChargesTextBlock
Namespace Prefix: | krg_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration