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Dispositions and Held for Sale (Tables)
 6 Months Ended
Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Dispositions and Held-for-Sale The following is a summary of the Company's 2019 dispositions:

 
 
 
 
 
 
 
 
Sales Price
 
 
Sales Date
 
Property
 
Property Type
 
Location
 
Gross
 
Net
 
Gain
April
 
Honey Creek Mall (1)
 
Mall
 
Terre Haute, IN
 
$
14,600

 
$
14,360

 
$
—

April
 
The Shoppes at Hickory Point
 
Mall
 
Forsyth, IL
 
2,508

 
2,407

 
1,326

June
 
Courtyard by Marriott at Pearland Town Center
 
All Other
 
Pearland, TX
 
15,100

 
14,795

 
1,910

 
 
 
 
 
 
 
 
$
32,208

 
$
31,562

 
$
3,236

(1) The Company recognized a loss on impairment of $2,284 in March 2019 when it adjusted the book value of the mall to the net sales price based on a signed contract with a third party buyer and recognized $(239) in April 2019 related to a true-up of closing costs. See Note 5 for additional information.
The following properties were classified as held for sale as of June 30, 2019:
Property
 
Property Type
 
Location
 
Total Assets
 
Total Liabilities
 
Percentage of
the Company's
Total Assets
850 Greenbrier Circle (1)
 
All Other
 
Chesapeake, VA
 
$
10,233

 
$
35

 
0.2
%
Foothills Plaza - Kroger (1)
 
All Other
 
Maryville, TN
 
1,091

 
—

 
—
%
The Forum at Grandview (1)
 
All Other
 
Madison, MS
 
32,195

 
569

 
0.6
%
High Point - Barnes & Noble (1)
 
All Other
 
High Point, NC
 
1,055

 
59

 
—
%
 
 
 
 
 
 
$
44,574

 
$
663

 
 
(1) The property was sold subsequent to June 30, 2019. See Note 15 for additional information.
The following is a summary of these dispositions:
Sale/Transfer
Date
 
 
 
 
 
 
 
Balance of
Non-recourse
Debt
 
Gain on
Extinguishment
of Debt
 
Property
 
Property Type
 
Location
 
 
January
 
Acadiana Mall (1)
 
Mall
 
Lafayette, LA
 
$
119,760

 
$
61,796

January
 
Cary Towne Center (2)
 
Mall
 
Cary, NC
 
43,716

 
9,926

 
 
 
 
 
 
 
 
$
163,476

 
$
71,722

(1)
The Company transferred title to the mall to the mortgage holder in satisfaction of the non-recourse debt secured by the property. A loss on impairment of real estate of $43,007 was recorded in 2017 to write down the book value of the mall to its then estimated fair value. The Company also recorded $305 of aggregate non-cash default interest expense during the first quarter of 2019.
(2)
The Company sold the mall for $31,500 and the net proceeds from the sale were used to satisfy a portion of the loan secured by the mall. The remaining principal balance was forgiven. The Company recorded a loss on impairment of real estate of $54,678 during 2018 to write down the book value of the mall to its then estimated fair value. The Company also recorded $237 of aggregate non-cash default interest expense during the first quarter of 2019.