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v3.23.3

Investment in Unconsolidated Entities (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | The following table reflects the real property disposed by IAGM since January 1, 2022.
Date |  | Property |  | Square Feet |  | Gross Disposition Price |  | IAGM's Gain (Loss) on Sale |  | The Company's Gain Deferral
March 3, 2022 |  | Price Plaza (a) |  | 206 |  | $ | 39,100 |  |  | $ | 3,751 |  |  | $ | — |
April 21, 2022 |  | The Highlands of Flower Mound (b) |  | 175 |  | 38,000 |  |  | 1,244 |  |  | 684 |
December 16, 2022 |  | Stone Ridge Market (b) |  | 219 |  | 58,100 |  |  | 12,287 |  |  | 6,758 |
December 22, 2022 |  | Stables Town Center (c) |  | 43 |  | 7,800 |  |  | (244) |  |  | — |
January 18, 2023 |  | Bay Colony (b) |  | 416 |  | 79,100 |  |  | 22,327 |  |  | 12,280 |
January 18, 2023 |  | Blackhawk Town Center (b) |  | 127 |  | 26,300 |  |  | 12,632 |  |  | 6,948 |
January 18, 2023 |  | Cyfair Town Center (b) |  | 433 |  | 79,200 |  |  | 4,713 |  |  | 2,592 |
January 18, 2023 |  | Stables Town Center (b) |  | 148 |  | 37,000 |  |  | 5,536 |  |  | 3,045 |
(a)The buyer assumed a $17,800 mortgage payable secured by the property. (b)The Company purchased these properties at a purchase price determined by a third party real estate valuation specialist. (c)IAGM disposed of 43 square feet out of a total 191 square feet through a partial sale of the property.
Schedule of Combined Financial Information of Investment in Unconsolidated Entities | The following table presents condensed balance sheet information for IAGM:
| As of
| September 30, 2023 |  | December 31, 2022
Assets: |  |  |
Net investment properties | $ | — |  |  | $ | 161,312 |
Other assets | 9,280 |  |  | 65,565 |
Total assets | $ | 9,280 |  |  | $ | 226,877 |
Liabilities and equity: |  |  |
Mortgages debt, net | $ | — |  |  | $ | 92,186 |
Other liabilities | 2,252 |  |  | 7,392 |
Equity | 7,028 |  |  | 127,299 |
Total liabilities and equity | $ | 9,280 |  |  | $ | 226,877 |
Company's share of equity | $ | 3,820 |  |  | $ | 70,869 |
Outside basis differences, net (a) | — |  |  | (14,738) |
Carrying value of investments in unconsolidated entities | $ | 3,820 |  |  | $ | 56,131 |
(a)The outside basis differences reflect 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
| 2023 |  | 2022 |  | 2023 |  | 2022
Total income | $ | — |  |  | $ | 6,518 |  |  | $ | 952 |  |  | $ | 21,501 |
Depreciation and amortization | — |  |  | (2,428) |  |  | (622) |  |  | (7,852) |
Property operating | — |  |  | (1,363) |  |  | (232) |  |  | (3,804) |
Real estate taxes | — |  |  | (929) |  |  | (127) |  |  | (3,174) |
Asset management fees | — |  |  | (215) |  |  | (32) |  |  | (686) |
Interest expense, net | — |  |  | (929) |  |  | (143) |  |  | (2,987) |
Other income and expense, net | 123 |  |  | (142) |  |  | 597 |  |  | (35) |
Gain (loss) on debt extinguishment | — |  |  | — |  |  | 444 |  |  | (202) |
Gain on sale of real estate | — |  |  | — |  |  | 45,208 |  |  | 4,995 |
Gain on sale of derivatives |  |  |  |  | 2,556 |  |  | — |
Net income | $ | 123 |  |  | $ | 512 |  |  | $ | 48,601 |  |  | $ | 7,756 |
Company's share of net income | $ | 67 |  |  | $ | 281 |  |  | $ | 26,728 |  |  | $ | 4,265 |
Outside basis adjustments for IAGM's sales to the Company | — |  |  | 71 |  |  | (27,175) |  |  | (481) |
Equity in earnings (losses) of unconsolidated entities | $ | 67 |  |  | $ | 352 |  |  | $ | (447) |  |  | $ | 3,784 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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