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Disposed Properties (Tables)
 6 Months Ended
Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Not Discontinued Operations, Disposal Activity
The following retail properties were disposed of during the six months ended June 30, 2018:
Date
 
Property
 
Square
Feet
 
Gross
Disposition
Price
 
Gain (Loss) on Sale of Investment Properties, net
 
Gain (Loss) on Extinguishment
of Debt
January 9, 2018
 
Sherman Town Center I & II
 
485,000

 
$
63,000

 
$
12,382

 
$
—

January 25, 2018
 
Grafton Commons
 
239,000

 
33,500

 
6,564

 
—

March 8, 2018
 
Lakeport Commons
 
283,000

 
31,000

 
(666
)
 
—

March 21, 2018
 
Stonecrest Marketplace (a)
 
265,000

 
—

 
1,777

 
10,752

March 31, 2018
 
Northwest Marketplace (b)
 
—

 
—

 
248

 
—

April 17, 2018
 
Market at Morse/Hamilton
 
45,000

 
10,000

 
1,592

 
—

May 24, 2018
 
Siegen Plaza
 
156,000

 
29,000

 
3,849

 
(54
)
June 20, 2018
 
Tomball Town Center
 
67,000

 
22,750

 
7,184

 
—

June 26, 2018
 
Bellerive Plaza (c)
 
76,000

 
—

 
(22
)
 
1,694

June 28, 2018
 
Parkway Centre North
 
143,000

 
23,700

 
5,357

 
(1,695
)
 
 
 
 
1,759,000

 
$
212,950

 
$
38,265

 
$
10,697

(a)
On March 21, 2018, the Company surrendered Stonecrest Marketplace, with a carrying value of $23,932, to the lender in satisfaction of non-recourse debt with an initial maturity date of March 1, 2017. The Company recognized a gain on transfer of assets, net, of $1,777 related to this transaction as part of income from continuing operations for the six months ended June 30, 2018. The Company is not aware of any material outstanding commitments and contingencies related to Stonecrest Marketplace.
(b)
The Company recognized a gain on sale of $248 related to the completion of a partial condemnation at a retail property.
(c)
On June 26, 2018, the Company surrendered Bellerive Plaza, with a carrying value of $4,771, to the lender in satisfaction of non-recourse debt with an initial maturity date of June 1, 2017. The Company recognized a loss on transfer of assets, net, of $22 related to this transaction as part of income from continuing operations for the three and six months ended June 30, 2018. The Company is not aware of any material outstanding commitments and contingencies related to Bellerive Plaza.
In aggregate, the Company recognized net proceeds of $186,778 from the sales, surrender, and condemnation of these properties on the condensed consolidated statement of cash flows during the six months ended June 30, 2018.
The following retail properties were disposed of during the six months ended June 30, 2017:
Date
 
Property
 
Square
Feet
 
Gross
Disposition
Price
 
Gain (Loss) on Sale of Investment Properties, net
 
Gain (Loss) on Extinguishment
of Debt
January 10, 2017
 
Penn Park
 
242,000

 
$
29,050

 
$
1,021

 
$
—

May 17, 2017
 
Intech Retail (a)
 
19,000

 
—

 
(53
)
 
882

May 19, 2017
 
Sparks Crossing
 
336,000

 
40,280

 
10,584

 
—

June 23, 2017
 
Lincoln Village
 
164,000

 
30,000

 
2,355

 
—

June 30, 2017
 
Market at Westlake (b)
 
—

 
—

 
474

 
—

 
 
 
 
761,000

 
$
99,330

 
$
14,381

 
$
882

(a)
On May 17, 2017, the Company surrendered Intech Retail, with a carrying value of $2,338, to the lender in satisfaction of non-recourse debt with an initial maturity date of November 1, 2016. The Company recognized a loss on transfer of assets, net, of $53 related to this transaction as part of income from continuing operations for the three and six months ended June 30, 2017. The Company is not aware of any material outstanding commitments and contingencies related to Intech Retail.
(b)
The Company recognized a gain on sale of $474 related to the completion of a partial condemnation at a this retail property.
Disposal Groups, Including Discontinued Operations
 
Three months ended
June 30, 2017
 
Six months ended
June 30, 2017
Total income
$
1,205

 
$
3,011

Less:
 
 
 
Depreciation and amortization expense
456

 
904

General and administrative, property operating, and real estate tax expenses
823

 
1,906

Operating (loss) income from discontinued operations
(74
)
 
201

Interest expense, income taxes, and other miscellaneous expenses
(807
)
 
(1,655
)
Net loss from discontinued operations
$
(881
)
 
$
(1,454
)
 
 
 
 
Net loss per common share, from discontinued operations, basic and diluted
$
0.00

 
$
0.00

Weighted average number of common shares outstanding, basic and diluted
773,381,165

 
773,348,893