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SALES OF PROPERTIES (Tables)

9 Months Ended

Sep. 30, 2021

SALES OF PROPERTIES

Schedule of sales of real estate

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.