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SALES OF PROPERTIES AND PROPERTY HELD-FOR-SALE (Tables) | 12 Months Ended
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Dec. 31, 2021
SALES OF PROPERTIES AND PROPERTY HELD-FOR-SALE |
Schedule of sales of real estate | The following chart details the Company’s sales of real estate during 2021, 2020 and 2019 (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Gain on sale | ​ | Mortgage | ​ | Prepayment
​ | ​ | ​ | ​ | Gross | ​ | of Real | ​ | Prepaid | ​ | Costs on
Description of Property | ​ | Date Sold | ​ | Sales Price | ​ | Estate, Net | ​ | on Sale | ​ | Debt
Whole Foods retail property & parking lot, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
West Hartford, Connecticut | ​ | June 17, 2021 | ​ | $ | 40,510 | ​ | $ | 21,469 | ​ | $ | 15,403 | ​ | $ | 799
Vacant retail property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Philadelphia, Pennsylvania | ​ | July 1, 2021 | ​ | ​ | 8,300 | ​ | ​ | 1,299 | (a) | ​ | 3,574 | ​ | ​ | 26
Wendys restaurant property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Hanover, Pennsylvania | ​ | December 27, 2021 | ​ | ​ | 2,815 | ​ | ​ | 1,331 | ​ | ​ | 696 | ​ | ​ | 11
Wendys restaurant property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gettysburg, Pennsylvania | ​ | December 27, 2021 | ​ | ​ | 2,885 | ​ | ​ | 1,364 | ​ | ​ | 714 | ​ | ​ | 12
TOTALS FOR 2021 | ​ | $ | 54,510 | ​ | $ | 25,463 | (b) | $ | 20,387 | ​ | $ | 848
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Hobby Lobby retail property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Onalaska, Wisconsin | ​ | February 11, 2020 | ​ | $ | 7,115 | ​ | $ | 4,252 | ​ | $ | 3,332 | ​ | $ | 290
CarMax retail property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Knoxville, Tennessee | ​ | July 1, 2020 | ​ | ​ | 18,000 | ​ | ​ | 10,316 | ​ | ​ | 8,483 | ​ | ​ | 833
PetSmart retail property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Houston, Texas | ​ | December 15, 2020 | ​ | ​ | 4,013 | (c) | ​ | 1,067 | ​ | ​ | n/a | ​ | ​ | n/a
Guitar Center retail property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Houston, Texas | ​ | December 15, 2020 | ​ | ​ | 5,212 | (c) | ​ | 1,645 | ​ | ​ | n/a | ​ | ​ | n/a
TOTALS FOR 2020 | ​ | $ | 34,340 | ​ | $ | 17,280 | (d) | $ | 11,815 | ​ | $ | 1,123
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Kmart retail property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Clemmons, North Carolina | ​ | June 20, 2019 | ​ | $ | 5,500 | ​ | $ | 1,099 | (e) | $ | 1,705 | ​ | $ | 41
Multi-tenant retail property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Athens, Georgia | ​ | August 23, 2019 | ​ | ​ | 6,050 | ​ | ​ | 1,045 | ​ | ​ | 2,645 | ​ | ​ | 161
Land - The Briarbrook Village Apartments, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Wheaton, Illinois | ​ | August 29, 2019 | ​ | ​ | 12,066 | ​ | ​ | 1,530 | ​ | ​ | n/a | ​ | ​ | n/a
Aaron's retail property, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Houston, Texas | ​ | October 21, 2019 | ​ | ​ | 1,675 | ​ | ​ | 218 | ​ | ​ | n/a | ​ | ​ | n/a
Assisted living facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Round Rock, Texas | ​ | December 10, 2019 | ​ | ​ | 16,600 | ​ | ​ | 435 | ​ | ​ | 13,157 | ​ | ​ | 625
TOTALS FOR 2019 | ​ | ​ | ​ | $ | 41,891 | ​ | $ | 4,327 | (f) | $ | 17,507 | ​ | $ | 827
(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 $130.
(b) | As a result of these sales, the Company wrote-off, as a reduction to Gain on sale of real estate, net, an aggregate of $1,438 of unbilled rent receivables and $967 of unamortized intangible lease assets.
(c) | In connection with these sales, the Company provided seller-financing of an aggregate of $4,613 which was included in other receivables on the consolidated balance sheet at December 31, 2020. The loan was repaid in full in 2021 (see Note 13).
(d) | As a result of these sales, the Company wrote-off, as a reduction to Gain on sale of real estate, net, an aggregate of $365 of unbilled rent receivables and $367 of unamortized intangible lease liabilities.
(e) | 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.
(f) | As a result of these sales, the Company wrote-off, as a reduction to Gain on sale of real estate, net, an aggregate of $182 of unbilled rent receivables and $915 of unamortized intangible lease liabilities.

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