Quarterly report pursuant to Section 13 or 15(d)

Real Estate Dispositions, Held for Sale and Impairment Charges (Tables)

v3.23.2
Real Estate Dispositions, Held for Sale and Impairment Charges (Tables)
 6 Months Ended
Jun. 30, 2023
Real Estate [Abstract]  
Summary of Sold Properties During the six months ended June 30, 2023, we sold two non-core properties, located in Baytown, Texas and Birmingham, Alabama, which are summarized in the table below (dollars in thousands):
Aggregate Square Footage Sold Aggregate Sales Price Aggregate Sales Costs Aggregate Loss on Sale of Real Estate, net
42,868  $ 4,650  $ 233  $ (451)
Schedule of Operating Income from the Real Estate and Related Assets Disposed
The table below summarizes the components of operating income from real estate and related assets disposed of during the three and six months ended June 30, 2023 and 2022 (dollars in thousands):

For the three months ended June 30, For the six months ended June 30,
2023 2022 2023 2022
Operating revenue $ 105  $ 137  $ 235  $ 275 
Operating expense 34  124  171  246 
Other income (expense), net (451) (1) —  (451) (1) — 
Income from real estate and related assets sold $ (380) $ 13  $ (387) $ 29 
(1)Includes a $(0.5) million loss on sale of real estate, net, on two property sales.
Schedule of Real Estate Owned Held for Sale
The table below summarizes the components of the assets and liabilities held for sale at June 30, 2023 and December 31, 2022 reflected on the accompanying condensed consolidated balance sheets (dollars in thousands):

June 30, 2023 December 31, 2022
Assets Held for Sale
Total real estate held for sale $ 36,220  $ 3,293 
Lease intangibles, net 546  — 
Total Assets Held for Sale $ 36,766  $ 3,293 
Liabilities Held for Sale
Deferred rent liability, net $ 873  $ — 
Asset retirement obligation 60  — 
Total Liabilities Held for Sale $ 933  $ —