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SALES OF PROPERTIES AND IMPAIRMENT LOSS (Tables) | 6 Months Ended
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Jun. 30, 2024
SALES OF PROPERTIES AND IMPAIRMENT LOSS |
Schedule of sales of real estate | The following table details the Company’s sales of real estate during the six months ended June 30, 2024 and 2023 (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gain on Sale of | ​
Description of Property | ​ | City, State | ​ | Date Sold | ​ | Sales Price | ​ | Real Estate, Net | ​
Hacienda Colorado restaurant parcel (a) | ​ | Lakewood, Colorado | ​ | March 6, 2024 | ​ | $ | 2,900 | ​ | $ | 1,784 | (a)
Applebee's restaurant property | ​ | Kennesaw, Georgia | ​ | May 6, 2024 | ​ | ​ | 2,834 | ​ | ​ | 964 | ​
FedEx industrial property | ​ | Miamisburg, Ohio | ​ | May 9, 2024 | ​ | ​ | 2,793 | ​ | ​ | 1,507 | ​
Havertys retail property | ​ | Wichita, Kansas | ​ | June 6, 2024 | ​ | ​ | 6,600 | ​ | ​ | 1,884 | ​
Urban Outfitters retail property | ​ | Lawrence, Kansas | ​ | June 7, 2024 | ​ | ​ | 1,300 | ​ | ​ | 43 | ​
Walgreens retail property (b) | ​ | Cape Girardeau, Missouri | ​ | June 10, 2024 | ​ | ​ | 2,793 | ​ | ​ | 978 | (b)
Vacant retail property (c) | ​ | Kennesaw, Georgia | ​ | June 28, 2024 | ​ | ​ | 6,700 | ​ | ​ | 2,072 | ​
Totals for the six months ended June 30, 2024 | $ | 25,920 | ​ | $ | 9,232 | (d)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gain on Sale of | ​
Description of Property | ​ | City, State | ​ | Date Sold | ​ | Sales Price | ​ | Real Estate, Net | ​
TGI Fridays restaurant property | ​ | Hauppauge, New York | ​ | February 28, 2023 | ​ | $ | 4,200 | ​ | $ | 1,534 | ​
Havertys retail property | ​ | Duluth, Georgia | ​ | May 31, 2023 | ​ | ​ | 6,000 | ​ | ​ | 3,180 | ​
Totals for the six months ended June 30, 2023 | $ | 10,200 | ​ | $ | 4,714 | (e)
(a) | A consolidated joint venture, in which the Company holds a 90% interest, sold a restaurant parcel which was part of a multi-tenant shopping center. In connection with the sale of this parcel, the joint venture paid down $1,885 of the mortgage on this property. The non-controlling interest’s share of the gain was $178.
(b) | This property was owned by a consolidated joint venture in which the Company held a 95% interest. The non-controlling interest’s share of the gain was $105.
(c) | In connection with this sale, the Company paid off the $4,412 mortgage on this property.
(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 $275 of unbilled rent receivables, $439 of net unamortized intangible lease assets and liabilities and $108 of other assets and receivables.
(e) | As a result of these sales, the Company wrote-off, as a reduction to Gain on sale of real estate, net, an aggregate of $190 of other assets and receivables and $32 of unearned rental income.

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