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DISPOSITIONS AND HELD FOR SALE | 12 Months Ended
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Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
DISPOSITIONS AND HELD FOR SALE | NO TE 6. DISPOSITIONS AND HELD FOR SALE Based on its analysis, the Company determined that the dispositions described below do not meet the criteria for classification as discontinued operations and are not considered to be significant disposals based on its quantitative and qualitative evaluation. Thus, the results of operations of the properties described below, as well as any related gain or loss, are included in net income (loss) for all periods presented, as applicable. 2022 Dispositions During the year ended December 31, 2022, the Successor Company deconsolidated Greenbrier Mall, which resulted in $36,250 of gain on deconsolidation. Greenbrier Mall was included in Malls for purposes of segment reporting. See Note 15 for additional information. For the year ended December 31, 2022, the Successor Company realized a gain of $5,345, primarily related to the sale of five outparcels. Gross proceeds from sales of real estate assets were $11,490 for the Successor year ended December 31, 2022. During the year ended December 31, 2022, the Successor Company sold an outparcel that resulted in a loss on sale of $252. See Note 15 for additional information. 2021 Dispositions The Predecessor Company realized a gain of $12,187 primarily related to the sale of The Residences at Pearland Town Center, four anchors and four outparcels during the period from January 1, 2021 through October 31, 2021. Those transactions generated gross proceeds of $34,293. 2020 Dispositions The Predecessor Company realized a gain of $4,696 primarily related to the sale of eight outparcels during the year ended December 31, 2020. The Predecessor Company recognized a gain on extinguishment of debt for the properties listed below, which represented the amount by which the outstanding debt balance exceeded the net book value of the property as of the date title to the property was transferred to the mortgage holder in satisfaction of the non-recourse debt secured by the property.
Sales Date |  | Property |  | Property Type |  | Location |  | Balance of Non-recourse Debt |  |  | Gain on Extinguishment of Debt |
August |  | Hickory Point Mall |  | Malls |  | Forsyth, IL |  | $ | 27,446 |  |  | $ | 15,446 |
December |  | Burnsville Center |  | Malls |  | Burnsville, MN |  |  | 64,233 |  |  |  | 17,075 |
|  |  |  |  |  |  |  | $ | 91,679 |  |  | $ | 32,521 |
Held-for-Sale As of December 31, 2022 and 2021, there were no properties that met the criteria to be considered held-for-sale.

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- Definition The entire disclosure 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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