Assets Held For Sale

9 Months Ended

Sep. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

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 September 30, 2024, 14 properties met the criteria to be classified as held for sale.

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


	September 30, 2024			December 31, 2023
Land	$	2,283		$	2,235
Buildings and improvements		3,579			3,520
		5,862			5,755
Accumulated depreciation and amortization		(3,253	)		(3,326	)
Real estate held for sale, net	$	2,609		$	2,429

During the nine months ended September 30, 2024, we sold 24 properties, resulting in an aggregate loss of $0.4 million which is included in (loss) gain on dispositions of real estate on our consolidated statements of operations. 23 properties sold during the three months ended September 30, 2024, did not qualify as real estate held for sale in prior reporting periods. 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.