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v3.23.1

Dispositions and Impairment | 3 Months Ended
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Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Dispositions and Impairment | Dispositions and Impairment During the three months ended March 31, 2023 and 2022, the Company disposed of its interests in various properties for an aggregate gross disposition price of $27,910 and $289, respectively, and recognized aggregate gains on sales of properties of $7,879 and $255, respectively. The Company had two and three properties classified as held for sale at March 31, 2023 and December 31, 2022, respectively. Assets and liabilities of the held for sale properties at March 31, 2023 and December 31, 2022 consisted of the following:
| March 31, 2023 |  | December 31, 2022
Assets: |  |  |
Real estate, at cost | $ | 54,654 |  |  | $ | 131,557 |
Real estate, intangible assets | 1,777 |  |  | 9,942 |
Accumulated depreciation and amortization | (14,119) |  |  | (76,205) |
Other | 1,974 |  |  | 1,140 |
| $ | 44,286 |  |  | $ | 66,434 |
Liabilities: |  |  |
Accounts payable and liabilities | $ | 863 |  |  | $ | 637 |
Deferred revenue | 134 |  |  | 143 |
Prepaid rent | 892 |  |  | 370 |
| $ | 1,889 |  |  | $ | 1,150 |
The Company assesses on a regular basis whether there are any indicators that the carrying value of its real estate assets may be impaired. Potential indicators may include an increase in vacancy at a property, tenant financial instability, change in the estimated holding period of the asset, the potential sale or transfer of the property in the near future and changes in economic conditions. An asset is determined to be impaired if the asset's carrying value is in excess of its estimated fair value and the Company estimates that its cost will not be recovered. During the three month period ended March 31, 2023, the Company recognized an impairment charge of $3,523 due to a potential sale of the property. The Company recognized no impairment charges on real estate during the three month period ended March 31, 2022.

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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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