XML 42 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Dispositions and Held for Sale (Tables)
 9 Months Ended
Sep. 30, 2018
Business Combinations, Discontinued Operations and Disposal Groups [Abstract] [Abstract]  
Schedule of Dispositions
The following is a summary of the Company's 2018 dispositions:
 
 
 
 
 
 
 
 
Sales Price
 
 
Sales Date
 
Property
 
Property Type
 
Location
 
Gross
 
Net
 
Gain
March
 
Gulf Coast Town Center - Phase III
 
All Other
 
Ft. Myers, FL
 
$
9,000

 
$
8,769

 
$
2,236

July
 
Janesville Mall (1)
 
Malls
 
Janesville, WI
 
18,000

 
17,783

 
—

September
 
Statesboro Crossing (2)
 
All Other
 
Statesboro, GA
 
21,500

 
10,532

 
3,215

September
 
Prior sales adjustment
 
Malls
 
 
 
—

 
—

 
92

 
 
 
 
 
 
 
 
$
48,500

 
$
37,084

 
$
5,543


(1)
The Company recognized a loss on impairment of $18,061 in 2018 when it adjusted the book value of the mall to its estimated fair value based upon a contract with a third party buyer, adjusted to reflect estimated disposition costs. See Note 4. The mall was classified as held for sale as of June 30, 2018 until its sale in July 2018.
(2)
In conjunction with the sale of this 50/50 consolidated joint venture, the loan secured by the community center was retired. See Note 7 for more information. The Company received 100% of the net proceeds from the sale in accordance with the terms of the joint venture agreement.