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SALE AND DISPOSAL OF PROPERTIES, DISCONTINUED OPERATIONS AND IMPAIRMENT (Tables) | 12 Months Ended
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Dec. 31, 2016
SALE AND DISPOSAL OF PROPERTIES, IMPAIRMENT AND DISCONTINUED OPERATIONS |
Schedule of sale of real estate property | The following chart details the Company's sales of real estate during the year ended December 31, 2016 (amounts in thousands):
Description of Property |  | Date Sold |  | Gross Sales Price |  | Gain on Sale of Real Estate, Net |
Portfolio of eight retail properties, Louisiana and Mississippi(a) |  | February 1, 2016 |  | $ | 13,750 |  | $ | 787 |
Retail property, Killeen, Texas(b) |  | May 19, 2016 |  |  | 3,100 |  |  | 980 |
Land—River Crossing Apartments, Sandy Springs, Georgia |  | June 15, 2016 |  |  | 8,858 |  |  | 2,331 |
Industrial property, Tomlinson, Pennsylvania(c) |  | June 30, 2016 |  |  | 14,800 |  |  | 5,660 |
Retail property, Island Park, NY(d) |  | December 22, 2016 |  |  | 2,702 |  |  | 213 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  |  |  | 43,210 |  |  | 9,971 |
Partial condemnation of land, Greenwood Village, Colorado(e) |  | July 5, 2016 |  |  | 153 |  |  | 116 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Totals |  |  |  | $ | 43,363 |  | $ | 10,087 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(a) | In connection with the sale, the Company paid off the $7,801 mortgage balance on these properties and incurred a $380 expense for the early termination of the mortgage (included in Prepayment costs on debt) and a $26 write-off of deferred financing costs (included in Amortization and write-off of deferred financing costs). As a result of the sale, the Company also wrote-off, as a reduction to Gain on sale of real estate, net, $706 of unbilled straight-line rent receivable, $79 of intangible lease assets and $54 of tenant origination costs. At December 31, 2015, the Company classified the net book value of the land and buildings, intangible lease assets and tenant origination costs totaling $12,259 as Properties held-for-sale.
(b) | As a result of the sale, the Company wrote-off, as a reduction to Gain on sale of real estate, net, $37 of unbilled straight-line rent receivable.
(c) | In connection with the sale, the Company paid off the $5,272 mortgage balance on this property and incurred a $154 swap termination fee (included in Prepayment costs on debt) and a $30 write-off of deferred financing costs (included in Amortization and write-off of deferred financing costs). As a result of the sale, the Company also wrote-off, as a reduction to Gain on sale of real estate, net, $1,262 of unbilled straight-line rent receivable, $36 of intangible lease assets and $75 of tenant origination costs.
(d) | Included in the gross sales price were insurance and other proceeds of an aggregate of $552 received during 2013 and 2014 related to property damages from a hurricane. As a result of the sale, the Company wrote-off, as an adjustment to Gain on sale of real estate, net, $55 of unbilled straight-line rent receivable, $89 of tenant origination costs and $99 of intangible lease liabilities.
(e) | During 2016, the Company received $484 from the Colorado Department of Transportation ("CDOT"), and has been advised by CDOT that it will remit to the Company an additional $25, as a result of a partial condemnation of land and easements obtained by CDOT at the Company's Greenwood Village, Colorado property. Of this aggregate of $509, $153 is attributable to the partial condemnation of land. The Company recognized a $116 Gain on sale of real estate, net, as a result of this partial condemnation. See Note 8 for information regarding the $356 balance.

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