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v3.22.2.2

Investment in Unconsolidated Entities (Tables) | 9 Months Ended
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Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | The following table reflects the retail properties disposed by IAGM since January 1, 2021.
Date |  | Property |  | Metropolitan Area |  | Square Feet |  | Gross Disposition Price |  | Gain on Sale
July 12, 2021 |  | Prestonwood Town Center (a) |  | Dallas, TX |  | 233 |  | $ | 52,800 |  |  | $ | 12,428 |
September 3, 2021 |  | Westover Marketplace |  | San Antonio, TX |  | 243 |  | 28,775 |  |  | 399 |
December 1, 2021 |  | South Frisco Village |  | Frisco, TX |  | 227 |  | 32,600 |  |  | 5,467 |
March 3, 2022 |  | Price Plaza (b) |  | Houston, TX |  | 206 |  | 39,100 |  |  | 3,751 |
April 21, 2022 |  | The Highlands of Flower Mound (c) |  | Dallas, TX |  | 175 |  | 38,000 |  |  | 1,244 |
(a)The Company purchased Prestonwood Town Center from IAGM at a purchase price determined by a third party real estate valuation specialist. The Company deferred its share of IAGM's gain on sale of $6,835 and began amortizing it over 30 years as an increase to equity in earnings of unconsolidated entities. (b)The buyer assumed a $17,800 mortgage payable secured by the property. (c)The Company purchased The Highlands of Flower Mound from IAGM at a purchase price determined by a third party real estate valuation specialist. The Company deferred its share of IAGM's gain on sale of $684 and began amortizing it over 30 years as an increase to equity in earnings of unconsolidated entities.
Schedule of Combined Financial Information of Investment in Unconsolidated Entities | The following table presents condensed balance sheet information for IAGM:
| As of
| September 30, 2022 |  | December 31, 2021
Assets: |  |  |
Net investment properties | $ | 213,354 |  |  | $ | 288,014 |
Other assets | 36,190 |  |  | 98,696 |
Total assets | $ | 249,544 |  |  | $ | 386,710 |
Liabilities and equity: |  |  |
Mortgages debt, net | $ | 125,635 |  |  | $ | 165,831 |
Other liabilities | 8,125 |  |  | 12,409 |
Equity | 115,784 |  |  | 208,470 |
Total liabilities and equity | $ | 249,544 |  |  | $ | 386,710 |
Company's share of equity | $ | 64,540 |  |  | $ | 115,513 |
Outside basis difference, net (a) | (8,050) |  |  | (7,569) |
Carrying value of investments in unconsolidated entities | $ | 56,490 |  |  | $ | 107,944 |
(a)The outside basis difference reflects unamortized deferred gains on historical property sales from IAGM to the Company. The following table presents condensed income statement information of IAGM:
| Three months ended September 30 |  | Nine months ended September 30
| 2022 |  | 2021 |  | 2022 |  | 2021
Total income | $ | 6,518 |  |  | $ | 10,184 |  |  | $ | 21,501 |  |  | $ | 33,034 |
Depreciation and amortization | (2,428) |  |  | (3,648) |  |  | (7,852) |  |  | (11,205) |
Property operating | (1,363) |  |  | (1,586) |  |  | (3,804) |  |  | (5,715) |
Real estate taxes | (929) |  |  | (1,722) |  |  | (3,174) |  |  | (6,392) |
Asset management fees | (215) |  |  | (292) |  |  | (686) |  |  | (859) |
Interest expense, net | (929) |  |  | (1,254) |  |  | (2,987) |  |  | (4,415) |
Other income and expense, net | (142) |  |  | (79) |  |  | (35) |  |  | (324) |
Loss on debt extinguishment | — |  |  | (215) |  |  | (202) |  |  | (229) |
Gain on sale of real estate | — |  |  | 12,827 |  |  | 4,995 |  |  | 12,827 |
Net income | $ | 512 |  |  | $ | 14,215 |  |  | $ | 7,756 |  |  | $ | 16,722 |
Company's share of net income | $ | 281 |  |  | $ | 7,817 |  |  | $ | 4,265 |  |  | $ | 9,197 |
Outside basis adjustment for investee's sale of real estate, net | 71 |  |  | (6,771) |  |  | (481) |  |  | (6,756) |
Equity in earnings of unconsolidated entities | $ | 352 |  |  | $ | 1,046 |  |  | $ | 3,784 |  |  | $ | 2,441 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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