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Real Estate | 12 Months Ended
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Dec. 31, 2024
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. The Company's depreciation expense on real estate assets was $7.7 million and $10.0 million for 2024 and 2023, respectively. Dispositions The Company sold the following properties during the years ended December 31, 2024 and 2023:
Disposal Date |  | Property |  | Contract Price |  | Gain (Loss) |  | Net Proceeds
12/26/2024 |  | South Philadelphia retail center |  | $ | 21,000,000 |  |  | $ | 3,187,000 |  |  | $ | 16,736,000 |
11/27/2024 |  | Brickyard Plaza land parcel |  | 1,150,000 |  |  | (363,000) |  |  | 1,050,000 |
9/12/2024 |  | Kings Plaza |  | 14,200,000 |  |  | 1,703,000 |  |  | 13,746,000 |
6/26/2024 |  | Oakland Commons |  | 6,000,000 |  |  | (55,000) |  |  | 5,662,000 |
7/11/2023 |  | Carll's Corner outparcel building |  | 3,000,000 |  |  | 2,662,000 |  |  | 2,759,000 |
Impairments During the year ended December 31, 2024, the Company recorded impairment charges of approximately $1.1 million on Oregon Avenue, located in Philadelphia, Pennsylvania. There were no impairment charges for the year ended December 31, 2023. These impairment charges are included in operating income in the accompanying consolidated statements of operations.

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- 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://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent + Details
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