Disposed Assets

The Company sold six multi-tenant retail assets and one non-core asset during the nine months ended September 30, 2017 for an aggregate gross disposition price of $206,130 and generated net proceeds from the sale of those assets of $162,512. The Company sold 24 retail assets, one non-core asset, and University House during the nine months ended September 30, 2016 for an aggregate gross disposition price of $1,887,550 and generated net proceeds from those sales of $1,533,492.

Continuing operations, multi-tenant retail assets

The following multi-tenant retail assets were sold during the nine months ended September 30, 2017. The Company recognized a net gain on sale from these six assets of $7,253 and $21,634, respectively, for the three and nine months ended September 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
Pavilions at Hartman Heritage	Independence, MO	7/31/2017	21,700		223,000
Legacy Crossing	Marion, OH	7/31/2017	10,250		134,000
Heritage Plaza	Chicago, IL	9/28/2017	21,350		132,000
			$	152,630	1,231,000

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 nine months ended September 30, 2017.

Discontinued operations, disposition of Worldgate Plaza

On August 30, 2017, the Company sold Worldgate Plaza, the Company's remaining non-core office asset for a gross disposition price of $53,500, and recognized a gain on the sale of this asset of $10,115 as part of income from discontinued operations on the consolidated statements of operations and comprehensive income for the three and nine months ended September 30, 2017.

The major classes of assets and liabilities of discontinued operations as of December 31, 2016 were as follows:



	December 31, 2016
Assets
Land	$	9,564
Building and other improvements	33,003
Total	42,567
Less accumulated depreciation	(2,601		)
Net investment properties	39,966
Accounts and rents receivable (net of allowance of $49)	1,566
Deferred costs and other assets	903
Total assets	$	42,435
Liabilities
Debt, net	$	59,942
Accounts payable and accrued expenses	116
Other liabilities	355
Total liabilities	$	60,413

The operations reflected in discontinued operations in the consolidated statements of operations and comprehensive income for the three and nine months ended September 30, 2017 include Worldgate Plaza, and for the three and nine months ended September 30, 2016, includes University House, the Highlands spin-off, and Worldgate Plaza.



	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
Total income	$	844		$	2,786		$	3,855		$	90,389
Less:
Depreciation and amortization expense	301			617			1,205			32,231
Other expenses	492			2,084			2,398			38,302
Provision for asset impairment	—			—			—			106,514
Operating income (loss) from discontinued operations	51			85			252			(86,658		)
Interest expense, income taxes, and other miscellaneous income	(443		)	(1,087		)	(1,993		)	(15,924		)
Equity in earnings of unconsolidated entity	—			—			—			(19		)
Gain on sale of investment in unconsolidated entity	—			—			—			1,434
Gain on sale of properties, net	10,115			10,494			10,115			235,780
Loss on extinguishment of debt	(2		)	(617		)	(2		)	(2,826		)
Net income from discontinued operations	$	9,721		$	8,875		$	8,372		$	131,787

Net income per common share, from discontinued operations, basic and diluted	$	0.01		$	0.01		$	0.01		$	0.15
Weighted average number of common shares outstanding, basic and diluted	773,517,492			862,212,317			773,405,710			862,207,903