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Note 3 - Recent Real Estate Transactions
 6 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Real Estate Disclosure [Text Block]

3. RECENT REAL ESTATE TRANSACTIONS

 

Acquisitions during the six months ended June 30, 2022: 

 

 

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The Company acquired 8 model homes for approximately $4.6 million. The purchase price was paid through cash payments of approximately $1.4 million and mortgage notes of approximately $3.2 million.

 

Acquisitions during the six months ended June 30, 2021: 

 

 

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The Company acquired six model homes for approximately $2.9 million.  These acquisitions were paid for with approximately $0.9 million in cash payments and approximately $2.0 million in mortgage loans.  There were no other commercial properties acquired during this period.

 

Dispositions during the six months ended June 30, 2022:

 

 

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World Plaza, which was sold on March 11, 2022, for approximately $10.0 million and the Company recognized a loss of approximately $0.3 million.

 

 

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The Company disposed of 18 model homes for approximately $10.0 million and recognized a gain of approximately $3.0 million.

 

Dispositions during the six months ended June 30, 2021:

 

 

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Waterman Plaza, which was sold on January 28, 2021, for approximately $3.5 million and the Company recognized a loss of approximately $0.2 million.

 

 

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Garden Gateway, which was sold on February 19, 2021, for approximately $11.2 million and the Company recognized a loss of approximately $1.4 million.

 

 •Highland Court, which was sold on May 20, 2021 for approximately $10.2 million and the Company recognized a loss of approximately $1.6 million.

 

 •Executive Office Park, which was sold on May 21, 2021 for approximately $8.1 million and the Company recognized a gain of approximately $2.5 million.

 

 

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The Company disposed of 32 model homes for approximately $15.1 million and recognized a gain of approximately $2.3 million.