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Real Estate (Tables) | 6 Months Ended
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Jun. 30, 2022
Real Estate [Abstract] |
Schedule of Property Disposition | The following table shows the property disposition during the six months ended June 30, 2022:
|  |  |  |  |  |  |  | Date |  | Sales |  |  |  |  |
Disposition |  | Location |  | GLA |  |  | Sold |  | Price |  |  | Impairment |
Riverview Plaza |  | Philadelphia, PA |  |  | 108,902 |  |  | 5/16/2022 |  | $ | 34,000,000 |  |  | $ | (199,000 | )
Summary of Income from Discontinued Operations | The following is a summary of income from discontinued operations:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
REVENUES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental revenues |  | $ | 21,546,000 |  |  | $ | 21,277,000 |  |  | $ | 43,677,000 |  |  | $ | 43,771,000 |
Other |  |  | 102,000 |  |  |  | 99,000 |  |  |  | 157,000 |  |  |  | 221,000 |
Total revenues |  |  | 21,648,000 |  |  |  | 21,376,000 |  |  |  | 43,834,000 |  |  |  | 43,992,000 |
EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating, maintenance and management |  |  | 5,108,000 |  |  |  | 4,454,000 |  |  |  | 10,441,000 |  |  |  | 9,916,000 |
Real estate and other property-related taxes |  |  | 3,278,000 |  |  |  | 3,229,000 |  |  |  | 6,534,000 |  |  |  | 6,491,000 |
General and administrative |  |  | 91,000 |  |  |  | (223,000 | ) |  |  | 151,000 |  |  |  | (99,000 | )
Depreciation and amortization |  |  | 3,964,000 |  |  |  | 7,281,000 |  |  |  | 9,726,000 |  |  |  | 15,031,000 |
Total expenses |  |  | 12,441,000 |  |  |  | 14,741,000 |  |  |  | 26,852,000 |  |  |  | 31,339,000 |
OPERATING INCOME |  |  | 9,207,000 |  |  |  | 6,635,000 |  |  |  | 16,982,000 |  |  |  | 12,653,000 |
NON-OPERATING INCOME AND EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (1,509,000 | ) |  |  | (1,182,000 | ) |  |  | (3,036,000 | ) |  |  | (1,709,000 | )
Total non-operating income and expenses |  |  | (1,509,000 | ) |  |  | (1,182,000 | ) |  |  | (3,036,000 | ) |  |  | (1,709,000 | )
INCOME FROM DISCONTINUED OPERATIONS |  |  | 7,698,000 |  |  |  | 5,453,000 |  |  |  | 13,946,000 |  |  |  | 10,944,000 |
Impairment charges |  |  | (16,119,000 | ) |  |  | - |  |  |  | (16,630,000 | ) |  |  | - |
Gain on sales |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,047,000 |
TOTAL (LOSS) INCOME FROM DISCONTINUED OPERATIONS |  | $ | (8,421,000 | ) |  | $ | 5,453,000 |  |  | $ | (2,684,000 | ) |  | $ | 11,991,000 |

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