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Investment in Unconsolidated Entities (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Summary 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.

Summary of Combined Financial Information of Investment in Unconsolidated Entities

The following table presents condensed balance sheet information for IAGM as of December 31, 2022:

									As of
									December 31, 2022
Assets:
Net investment properties									$	161,312
Other assets									65,565
Total assets									$	226,877
Liabilities and equity:
Mortgage debt, net									$	92,186
Other liabilities									7,392
Equity									127,299
Total liabilities and equity									$	226,877
Company's share of equity									$	70,869
Outside basis difference, net (a)									(14,738)
Carrying value of investments in unconsolidated entities									$	56,131

(a)The outside basis difference relates to the unamortized deferred gains on historical property sales from IAGM to the Company.

The following table presents condensed income statement information of IAGM:

			Year ended December 31,
IAGM			2023						2022						2021
Total income			$	952					$	27,764					$	42,145
Depreciation and amortization			(622)						(10,508)						(14,437)
Property operating			(232)						(5,149)						(7,265)
Real estate taxes			(127)						(4,086)						(7,507)
Asset management fees			(32)						(882)						(1,128)
Interest expense, net			(143)						(4,002)						(5,637)
Other income and expense, net			447						(245)						(422)
Gain (loss) on debt extinguishment			444						(219)						(229)
Gain on sale of real estate, net			45,208						17,038						18,294
Gain on sale of derivatives			2,556						—						—
Net income			$	48,451					$	19,711					$	23,814
Company's share of net income			$	26,648					$	10,832					$	13,089
Outside basis adjustment for investee's sale of real estate, net			(27,175)						(7,169)						(6,691)
Outside basis adjustment for investee's NCI redemption			(30)						—						—
Equity in (losses) earnings of unconsolidated entities			$	(557)					$	3,663					$	6,398

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- Definition

Schedule of combined financial information for the company's investment in unconsolidated entities.

+ References

No definition available.

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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

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