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Combined Guarantor Subsidiaries - Dispositions (Tables) | 9 Months Ended
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Sep. 30, 2019
Condensed Financial Statements, Captions [Line Items] |
Schedule of Dispositions | Net proceeds realized from the 2019 dispositions listed below were used to reduce the outstanding balance on the Company's credit facility.
|  |  |  |  |  |  |  | Sales Price |  |
Sales Date |  | Property |  | Property Type |  | Location |  | Gross |  | Net |  | Gain
April |  | Honey Creek Mall (1) |  | Malls |  | Terre Haute, IN |  | $ | 14,600 |  |  | $ | 14,360 |  |  | $ | — |
April |  | The Shoppes at Hickory Point |  | Malls |  | 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 |
July |  | 850 Greenbrier Circle |  | All Other |  | Chesapeake, VA |  | 10,500 |  |  | 10,332 |  |  | 96 |
July |  | Kroger at Foothills Plaza |  | All Other |  | Maryville, TN |  | 2,350 |  |  | 2,267 |  |  | 1,139 |
July |  | The Forum at Grandview |  | All Other |  | Madison, MS |  | 31,750 |  |  | 31,606 |  |  | 47 |
July |  | Barnes & Noble parcel |  | All Other |  | High Point, NC |  | 2,000 |  |  | 1,899 |  |  | 821 |
September |  | Dick's Sporting Goods at Hanes Mall |  | All Other |  | Winston-Salem, NC |  | 10,000 |  |  | 9,649 |  |  | 2,907 |
|  |  |  |  |  |  |  | $ | 88,808 |  |  | $ | 87,315 |  |  | $ | 8,246 |
(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.
Sale/Transfer Date |  |  |  |  |  |  |  | Balance of Non-recourse Debt |  | Gain on Extinguishment of Debt
| Property |  | Property Type |  | Location |  |
January |  | Acadiana Mall (1) |  | Malls |  | Lafayette, LA |  | $ | 119,760 |  |  | $ | 61,796 |
January |  | Cary Towne Center (2) |  | Malls |  | 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.
Guarantor Subsidiaries |
Condensed Financial Statements, Captions [Line Items] |
Schedule of Dispositions | The following is a summary of the Combined Guarantor Subsidiaries' 2019 dispositions:
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 |
(1) The Combined Guarantor Subsidiaries 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 Combined Guarantor Subsidiaries also recorded $305 of aggregate non-cash default interest expense during the first quarter of 2019.

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