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SALES OF PROPERTIES AND IMPAIRMENT LOSS (Tables)

6 Months Ended

Jun. 30, 2024

SALES OF PROPERTIES AND IMPAIRMENT LOSS

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.