XML 20 R10.htm IDEA: XBRL DOCUMENT
v3.23.3

Real Estate | 9 Months Ended
--- | ---
Sep. 30, 2023
Real Estate [Abstract] |
Real Estate | Real Estate A significant portion of the Company's land, buildings and improvements serve as collateral for the Company's secured term loans. Accordingly, restrictions exist as to the encumbered properties' transferability, use and other common rights typically associated with property ownership. Dispositions On July 11, 2023, the Company sold an outparcel building adjacent to Carll's Corner, located in Bridgeton, New Jersey for $3.0 million, resulting in a $2.7 million gain, which is included in operating income in the accompanying condensed consolidated statements of operations. Discontinued Operations On July 7, 2022, the Company and certain of its subsidiaries completed the Grocery-Anchored Portfolio Sale and the East River Park and Senator Square redevelopment asset sales for total gross proceeds of approximately $879 million, including the assumed debt. The Grocery-Anchored Portfolio Sale represented a strategic shift and had a material effect on the Company’s operations and financial results, and, therefore, the Company determined that it was deemed a discontinued operation. Accordingly, the portfolio of 33 grocery-anchored shopping centers were classified as held for sale and the results of their operations were classified as discontinued operations in 2022. The following is a summary of income from discontinued operations:
| Three months ended September 30, |  | Nine months ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
REVENUES |  |  |  |  |  |  |
Rental revenues | $ | — |  |  | $ | 1,340,000 |  |  | $ | — |  |  | $ | 44,130,000 |
Other revenues | — |  |  | 26,000 |  |  | — |  |  | 184,000 |
Total revenues | — |  |  | 1,366,000 |  |  | — |  |  | 44,314,000 |
EXPENSES |  |  |  |  |  |  |
Operating, maintenance and management | — |  |  | 321,000 |  |  | — |  |  | 9,557,000 |
Real estate and other property-related taxes | — |  |  | 216,000 |  |  | — |  |  | 6,750,000 |
Corporate general and administrative | — |  |  | — |  |  | — |  |  | 468,000 |
Depreciation and amortization | — |  |  | — |  |  | — |  |  | 9,726,000 |
Total expenses | — |  |  | 537,000 |  |  | — |  |  | 26,501,000 |
OPERATING INCOME | — |  |  | 829,000 |  |  | — |  |  | 17,813,000 |
NON-OPERATING INCOME AND EXPENSES |  |  |  |  |  |  |
Interest expense, net | — |  |  | (473,000) |  |  | — |  |  | (3,511,000) |
Total non-operating income and expenses | — |  |  | (473,000) |  |  | — |  |  | (3,511,000) |
INCOME FROM DISCONTINUED OPERATIONS | — |  |  | 356,000 |  |  | — |  |  | 14,302,000 |
Impairment charges | — |  |  | — |  |  | — |  |  | (16,629,000) |
Gain on sales | — |  |  | 125,500,000 |  |  | — |  |  | 125,500,000 |
TOTAL INCOME FROM DISCONTINUED OPERATIONS | $ | — |  |  | $ | 125,856,000 |  |  | $ | — |  |  | $ | 123,173,000 |
Net cash provided by operating activities from discontinued operations was $0.0 million and $25.9 million for the nine months ended September 30, 2023 and 2022, respectively. Net cash provided by investing activities from discontinued operations was $0.0 million and $651.5 million for the nine months ended September 30, 2023 and 2022, respectively.

X
- References No definition available. + Details
Name: | us-gaap_RealEstateAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//976/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//978/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//970/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//972/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//974/tableOfContent + Details
Name: | us-gaap_RealEstateDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration