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Disposed Properties
 6 Months Ended
Jun. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Disposed Properties
Disposed Properties
Multi-tenant retail assets
The Company sold three multi-tenant retail assets during the six months ended June 30, 2017 for an aggregate gross disposition price of $99,330 and generated net proceeds from the sale of those assets of $56,924. The Company recognized a net gain on sale from these three assets of $13,360 and $14,381, respectively, for the three and six months ended June 30, 2017.
The following multi-tenant retail assets were sold during the six months ended June 30, 2017.
Asset
 
Location
 
Disposition Date
 
Gross Disposition Price
 
Square Feet
Penn Park
 
Oklahoma City, OK
 
1/10/2017
 
$
29,050

 
242,000
Sparks Crossing
 
Sparks, NV
 
5/19/2017
 
40,280

 
336,000
Lincoln Village
 
Chicago, IL
 
6/23/2017
 
30,000

 
164,000
 
 
 
 
 
 
$
99,330

 
742,000

In addition, the Company surrendered one asset to the lender (in satisfaction of non-recourse debt) on May 17, 2017. The Company is not aware of any material outstanding commitments and contingencies related to this asset. The Company recognized a gain on debt extinguishment of $882 related to this transaction as part of income from continuing operations for the three and six months ended June 30, 2017.
The Company sold eighteen multi-tenant retail assets, one non-core asset, and University House during the six months ended June 30, 2016 for an aggregate gross disposition price of $1,728,600 and generated net proceeds from these sales of $1,389,845. The Company recognized an aggregate net gain on sale of $52,385 and $76,411, respectively, as part of income from continuing operations on the consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2016. The Company recognized an aggregate net gain of $225,286 as part of income (loss) from discontinued operations on the consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2016. In addition, during the six months ended June 30, 2017, the Company completed the spin-off of Highlands.