Sale of Properties and Property Held-for-Sale (Tables)

9 Months Ended

Sep. 30, 2019

Sale of Properties and Property Held-for-Sale

The following chart details the Company’s sales of real estate during the nine months ended September 30, 2019 and 2018 (amounts in thousands):


		Gross		Gain on Sale of
Description of Property	Date Sold	Sales Price		Real Estate, Net
Retail property,
Clemmons, North Carolina (a)	June 20, 2019	$	5,500	$	1,099	(b)
Retail property,
Athens, Georgia	August 23, 2019		6,050		1,045	(c)
Land,
Wheaton, Illinois	August 29, 2019		12,035		1,499
Totals – nine months ended September 30, 2019		$	23,585	$	3,643

Retail property,
Fort Bend, Texas (d)	January 30, 2018	$	9,200	$	2,408
Land,
Lakemoor, Illinois	September 14, 2018		8,459		4,585	(e)
Totals – nine months ended September 30, 2018		$	17,659	$	6,993

Note 6 – Sale of Properties and Property Held-for-Sale (Continued)

(a)

This property was owned by a consolidated joint venture in which the Company held a 90% interest. The non-controlling interest’s share of the gain was $422.

(b)

Excludes prepayment costs on debt related to a swap termination fee of $40 included in mortgage interest expense.

(c)

Excludes prepayment costs on debt related to a swap termination fee of $161 included in mortgage interest expense.

(d)

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.

(e)

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.