XML 41 R28.htm IDEA: XBRL DOCUMENT v3.8.0.1
Disposed Properties (Tables)
 12 Months Ended
Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Not Discontinued Operations, Disposal Activity
Property
 
Location
 
Disposition Date
 
Gross Disposition Price
 
Square Feet
Penn Park
 
Oklahoma City, OK
 
January 10, 2017
 
$
29,050

 
242,000
Sparks Crossing
 
Sparks, NV
 
May 19, 2017
 
40,280

 
336,000
Lincoln Village
 
Chicago, IL
 
June 23, 2017
 
30,000

 
164,000
Pavilions at Hartman Heritage
 
Independence, MO
 
July 31, 2017
 
21,700

 
223,000
Legacy Crossing
 
Marion, OH
 
July 31, 2017
 
10,250

 
134,000
Heritage Plaza
 
Chicago, IL
 
September 28, 2017
 
21,350

 
132,000
Dothan Plaza
 
Dothan, AL
 
December 28, 2017
 
33,750

 
327,000
 
 
 
 
 
 
$
186,380

 
1,558,000
Summary of Components of Discontinued Operations
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 (loss) for the year ended December 31, 2017 includes Worldgate Plaza, for the year ended December 31, 2016 includes Worldgate Plaza, University House, and Highlands, and for the year ended December 31, 2015 includes Worldgate Plaza, University House, Highlands, and Xenia.
 
Year ended December 31,
 
2017
 
2016
 
2015
Total income
$
3,935

 
$
92,329

 
$
265,076

Less:
 
 
 
 
 
Depreciation and amortization expense
1,205

 
32,667

 
77,736

Other expenses
2,308

 
36,487

 
121,174

Provision for asset impairment
—

 
106,514

 
—

Operating income (loss) from discontinued operations
422

 
(83,339
)
 
66,166

Interest expense, income taxes, and other miscellaneous income
(6,696
)
 
(17,983
)
 
(37,476
)
Equity in earnings of unconsolidated entity
—

 
(19
)
 
89

Gain on sale of investment in unconsolidated entity
—

 
1,434

 
—

Gain on sale of properties, net
10,115

 
236,256

 
—

Loss on extinguishment of debt
(2
)
 
(2,826
)
 
—

Net income from discontinued operations
3,839

 
133,523

 
28,779

Less net income attributable to non-controlling interests
—

 
—

 
(15
)
Net income from discontinued operations attributable to Company
$
3,839

 
$
133,523

 
$
28,764

 
 
 
 
 
 
Weighted average number of common shares outstanding, basic and diluted
773,445,341

 
854,638,497

 
861,830,627

Net income per common share, from discontinued operations,
basic and diluted
$
—

 
$
0.15

 
$
0.04