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SALES OF PROPERTIES | 9 Months Ended
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Sep. 30, 2021
SALES OF PROPERTIES |
SALES OF PROPERTIES | NOTE 5 – SALES OF PROPERTIES The following table details the Company’s sales of real estate during the nine months ended September 30, 2021 and 2020 (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Gross | ​ | Gain on Sale of | ​ | ​ | Mortgage | ​ | Prepayment
Description of Property | ​ | Date Sold | ​ | Sales Price | ​ | Real Estate, Net | ​ | ​ | Prepaid on Sale | ​ | Costs on Debt
Whole Foods retail property & parking lot, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
West Hartford, Connecticut | ​ | June 17, 2021 | ​ | $ | 40,510 | ​ | $ | 21,469 | (a) | ​ | $ | 15,403 | ​ | $ | 799 | ​
Vacant retail property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Philadelphia, Pennsylvania (b) | ​ | July 1, 2021 | ​ | ​ | 8,300 | ​ | ​ | 1,299 | ​ | ​ | ​ | 3,574 | ​ | ​ | 26 | ​
Totals - nine months ended September 30, 2021 | ​ | $ | 48,810 | ​ | $ | 22,768 | ​ | ​ | $ | 18,977 | ​ | $ | 825 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Hobby Lobby retail property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Onalaska, Wisconsin | ​ | February 11, 2020 | ​ | $ | 7,115 | ​ | $ | 4,252 | (c) | ​ | $ | 3,332 | ​ | $ | 290 | ​
CarMax retail property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Knoxville, Tennessee | ​ | July 1, 2020 | ​ | ​ | 18,000 | ​ | ​ | 10,316 | (c) | ​ | ​ | 8,483 | ​ | ​ | 833 | (d)
Totals - nine months ended September 30, 2020 | ​ | $ | 25,115 | ​ | $ | 14,568 | ​ | ​ | $ | 11,815 | ​ | $ | 1,123 | ​
(a) | As a result of the sale, the Company also wrote-off, as a reduction to Gain on sale of real estate, net, $1,148 of unbilled rent receivable and $967 of unamortized intangible lease assets.
(b) | 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 $130.
(c) | As a result of the Wisconsin and Tennessee property sales, the Company also wrote-off, as a reduction to Gain on sale of real estate, net, unbilled rent receivables of $170 and $122, respectively.
(d) | The Company recognized $775 and $58 of the prepayment cost on debt during the three months ended June 30, 2020 and September 30, 2020, respectively.

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