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Assets Held For Sale
 6 Months Ended
Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Assets Held For Sale

NOTE 11. — ASSETS HELD FOR SALE

We evaluate the held for sale classification of our real estate as of the end of each quarter. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value less costs to sell. As of June 30, 2024, 13 properties met the criteria to be classified as held for sale.

Real estate held for sale consisted of the following as of June 30, 2024 and December 31, 2023 (in thousands):

 

 

 

June 30,
2024

 

 

December 31,
2023

 

Land

 

$

2,190

 

 

$

2,235

 

Buildings and improvements

 

 

3,441

 

 

 

3,520

 

 

 

5,631

 

 

 

5,755

 

Accumulated depreciation and amortization

 

 

(3,248

)

 

 

(3,326

)

Real estate held for sale, net

 

$

2,383

 

 

$

2,429

 

 

During the six months ended June 30, 2024, we sold one property, resulting in an aggregate gain of $1.0 million which is included in gain on dispositions of real estate on our consolidated statements of operations. We also received funds from a partial property condemnation resulting in a gain of $0.1 million included in gain on dispositions of real estate on our consolidated statements of operations.