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Acquisitions, Dispositions and Held for Sale (Tables) | 9 Months Ended
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Sep. 30, 2016
Business Combinations, Discontinued Operations and Disposal Groups [Abstract] [Abstract] |
Schedule of Dispositions | The following is a summary of the Company's 2016 dispositions:
|  |  |  |  |  |  |  | Sales Price |  |
Sales Date |  | Property |  | Property Type |  | Location |  | Gross |  | Net |  | Gain
September |  | Oak Branch Business Center (1) |  | Office Building |  | Greensboro, NC |  | $ | 2,400 |  |  | $ | 2,148 |  |  | $ | — |
July |  | The Lakes Mall / Fashion Square (2) |  | Mall |  | Muskegon, MI Saginaw, MI |  | 66,500 |  |  | 65,514 |  |  | 273 |
May |  | Bonita Lakes Mall and Crossing (3) |  | Mall & Associated Center |  | Meridian, MS |  | 27,910 |  |  | 27,614 |  |  | 216 |
April |  | The Crossings at Marshalls Creek |  | Community Center |  | Middle Smithfield, PA |  | 23,650 |  |  | 21,791 |  |  | 3,239 |
March |  | River Ridge Mall (4) |  | Mall |  | Lynchburg, VA |  | 33,500 |  |  | 32,905 |  |  | — |
|  |  |  |  |  |  |  | $ | 153,960 |  |  | $ | 149,972 |  |  | $ | 3,728 |
(1) | The Company recognized a loss on impairment of $122 to adjust the book value of the property to its net sales price. See Note 3.
(2) | The Company recognized a loss on impairment of $32,096 in the second quarter of 2016 when it adjusted the book value of the properties to their contractual sales price, adjusted to reflect disposition costs. See Note 3 for more information. A non-recourse loan secured by Fashion Square with a balance of $38,237 was assumed by the buyer in conjunction with the sale. See Note 6.
(3) | The Company recognized a loss on impairment of $5,323 in the first quarter of 2016 when it adjusted the book value of the properties to their contractual sales price, adjusted to reflect disposition costs. See Note 3 for more information.
(4) | In March 2016, the Company sold a 75% interest in River Ridge Mall, located in Lynchburg, VA. In the first quarter of 2016, the Company recorded a loss on impairment of $9,510 to adjust the book value of the property to its net sales price. See Note 3 for more information. The Company retained a 25% ownership interest in the property, which is included in Investments in Unconsolidated Affiliates as of September 30, 2016 on the Company's condensed consolidated balance sheet. See Note 5 for more information on this new joint venture.
The following is a summary of the Company's 2015 dispositions:
|  |  |  |  |  |  |  | Sales Price |  |
Sales Date |  | Property |  | Property Type |  | Location |  | Gross |  | Net |  | Gain
December |  | Mayfaire Community Center (1) |  | Community Center (2) |  | Wilmington, NC |  | $ | 56,300 |  |  | $ | 55,955 |  |  | $ | — |
December |  | Chapel Hill Crossing (3) |  | Associated Center |  | Akron, OH |  | 2,300 |  |  | 2,178 |  |  | — |
November |  | Waynesville Commons |  | Community Center |  | Waynesville, NC |  | 14,500 |  |  | 14,289 |  |  | 5,071 |
July |  | Madison Plaza |  | Associated Center |  | Huntsville, AL |  | 5,700 |  |  | 5,472 |  |  | 2,769 |
June |  | EastGate Crossing (4) |  | Associated Center |  | Cincinnati, OH |  | 21,060 |  |  | 20,688 |  |  | 13,491 |
April |  | Madison Square (5) |  | Mall |  | Huntsville, AL |  | 5,000 |  |  | 4,955 |  |  | — |
|  |  |  |  |  |  |  | $ | 104,860 |  |  | $ | 103,537 |  |  | $ | 21,331 |
(1) | The Company recognized a loss on impairment of $397 in the fourth quarter of 2015 when it adjusted the book value of Mayfaire Community Center to its net sales price.
(2) | This property was combined with Mayfaire Towne Center in the Malls category for segment reporting purposes.
(3) | The Company recognized a loss on impairment of $1,914 in the fourth quarter of 2015 when it adjusted the book value of Chapel Hill Crossing to its net sales price.
(4) | In the fourth quarter of 2015, the Company earned $625 of contingent consideration related to the sale of EastGate Crossing and received $574 of net proceeds for the lease of a tenant space. In the second quarter of 2016, the Company earned $508 of contingent consideration for the lease of an additional specified tenant space and received $478 of net proceeds. Additionally, the buyer assumed the mortgage loan on the property, which had a balance of $14,570 at the time of the sale.
(5) | The Company recognized a loss on impairment of $2,620 in the second quarter of 2015 when it adjusted the book value of Madison Square to its net sales price.

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
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