NOTE 5—SALES OF PROPERTIES

The following chart details the Company’s sales of real estate during 2018, 2017 and 2016 (amounts in thousands):



		Gross		Gain (loss) on Sale of
Description of Property	Date Sold	Sales Price		Real Estate, Net
Retail property,
Fort Bend, Texas (a)	January 30, 2018	$	9,200	$	2,408
Land,
Lakemoor, Illinois	September 14, 2018		8,459		4,585	(b)
Retail property,
Lincoln, Nebraska	December 13, 2018		10,000		(1,731)
Totals for 2018		$	27,659	$	5,262

Retail property,
Greenwood Village, Colorado	May 8, 2017	$	9,500	$	6,568
Retail property,
Kansas City, Missouri(c)	July 14, 2017		10,250		2,180
Retail property,
Niles, Illinois	August 31, 2017		5,000		1,089
Restaurant property,
Ann Arbor, Michigan(c)(d)	November 14, 2017		2,300		—
Totals for 2017		$	27,050	$	9,837

Portfolio of eight retail properties,
Louisiana and Mississippi	February 1, 2016	$	13,750	$	787
Retail property,
Killeen, Texas	May 19, 2016		3,100		980
Land,
Sandy Springs, Georgia	June 15, 2016		8,858		2,331
Industrial property,
Tomlinson, Pennsylvania	June 30, 2016		14,800		5,660
Retail property,
Island Park, NY	December 22, 2016		2,702		213
			43,210		9,971
Partial condemnation of land,
Greenwood Village, Colorado	July 5, 2016		153		116
Totals for 2016		$	43,363	$	10,087

(a)

This property was owned by a consolidated joint venture in which the Company held an 85% interest. The non-controlling interest’s share of the gain was $776.

(b)

Includes $5,717, representing the unamortized balance of a $5,906 fixed rent payment which was received and recorded as deferred income in November 2017 and was to be included in rental income over the term of the lease.

(c)

See Note 10 for information on the early termination of the interest rate swap derivative associated with the mortgage that was paid off on this property.

(d)

As the sales price was less than the net book value, the Company determined that the property was impaired and recorded an impairment loss of $153, representing the difference, at September 30, 2017, between the net sales price and the net book value. The impairment loss is included in the accompanying consolidated statement of income for the year ended December 31, 2017.