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 gains or losses, are included in net income (loss) for all periods presented, as applicable.

During the three months ended March 31, 2025, the Company realized a gain of $21,532 related to the sales of Imperial Valley Mall, Annex at Monroeville, Monroeville Mall, three outparcels associated with the Monroeville Mall properties and a land parcel associated with Imperial Valley Mall. For the three months ended March 31, 2025, gross proceeds from sales of real estate assets were $72,100 which were used to partially paydown the secured term loan and the open-air centers and outparcels loan. See Note 9 for more information.

During the three months ended March 31, 2024, the Company realized a gain of $3,721, related to the sale of an anchor parcel and gross proceeds from sales of real estate assets was $7,745. The Company recorded a loss on impairment related to an outparcel that was sold. See Note 5 for more information.

As of March 31, 2025, there were no properties that met the criteria to be classified as held-for-sale.

The following properties were classified as held-for-sale as of December 31, 2024:


Property	Location	Property Type	Total Assets		Total Liabilities (1)
Monroeville Mall	Pittsburgh, PA	Mall	$	30,189	$	4,306
Annex at Monroeville	Pittsburgh, PA	Open-Air Center		3,075		218
Imperial Valley	El Centro, CA	Mall		22,811		1,286
Total			$	56,075	$	5,810

(1)

Included within accounts payable and accrued liabilities on the condensed consolidated balance sheets.