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Disposed Properties (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2018:
Date
 
Property
 
Square
Feet
 
Gross
Disposition
Price
 
Gain (Loss) on Sale of Investment Properties, net
 
Gain (Loss) on Extinguishment
of Debt (d)
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
)
September 14, 2018
 
Tulsa Hills
 
473,000

 
70,000

 
13,476

 
—

 
 
 
 
2,232,000

 
$
282,950

 
$
51,741

 
$
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 and recognized a gain on transfer of assets, net, of $1,777. 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 this 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. The Company is not aware of any material outstanding commitments and contingencies related to Bellerive Plaza.
(d)
In addition to the gain or loss recognized as a result of the disposition of retail properties, the Company extinguished an additional loan on a retail property resulting in a loss on debt extinguishment of $4.
In aggregate, the Company recognized net proceeds of $254,424 from the sales, surrender, and condemnation of these properties on the condensed consolidated statement of cash flows during the nine months ended September 30, 2018.
The following retail properties were disposed of during the nine months ended September 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

 
—

July 31, 2017
 
Pavilions at Hartman Heritage
 
223,000

 
21,700

 
(1,708
)
 
—

July 31, 2017
 
Legacy Crossing
 
134,000

 
10,250

 
(211
)
 
(1
)
September 28, 2017
 
Heritage Plaza
 
132,000

 
21,350

 
9,172

 
(41
)
 
 
 
 
1,250,000

 
$
152,630

 
$
21,634

 
$
840

(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 and recognized a loss on transfer of assets, net, of $53. 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 this retail property.
Disposal Groups, Including Discontinued Operations
 
Three months ended
September 30, 2017
 
Nine months ended
September 30, 2017
Total income
$
844

 
$
3,855

Less:
 
 
 
Depreciation and amortization expense
301

 
1,205

General and administrative, property operating, and real estate tax expenses
492

 
2,398

Operating income from discontinued operations
51

 
252

Interest expense, income taxes, and other miscellaneous expenses
(443
)
 
(1,993
)
Gain on sale of properties, net
10,115

 
10,115

Loss on extinguishment of debt
(2
)
 
(2
)
Net income from discontinued operations
$
9,721

 
$
8,372

 
 
 
 
Net income per common share, from discontinued operations, basic and diluted
$
0.01

 
$
0.01

Weighted average number of common shares outstanding, basic and diluted
773,517,492

 
773,405,710

The Company has disposed of the following power center retail properties subsequent to September 30, 2018:
Date
 
Property
 
MSA
 
Square Feet
 
Gross Disposition
Price
October 5, 2018
 
McKinney Town Center
 
Dallas-Fort Worth-Arlington, TX
 
243,000

 
$
51,000

October 5, 2018
 
Riverstone
 
Houston-The Woodlands-Sugar Land, TX
 
273,000

 
27,750

October 23, 2018
 
Hiram Pavilion
 
Atlanta–Sandy Springs–Roswell, GA
 
363,000

 
44,350

 
 
 
 
 
 
879,000

 
$
123,100