Annual report pursuant to Section 13 and 15(d)

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

v3.19.3.a.u2
Real Estate Dispositions, Held for Sale, and Impairment Charges (Tables)
 12 Months Ended
Dec. 31, 2019
Real Estate [Abstract]  
Summary Properties Sold
During the year ended December 31, 2019, we sold one non-core property, located in Maitland, Florida, which is detailed in the table below (dollars in thousands):

Square Footage Sold
 
Sales Price
 
Sales Costs
 
Gain on Sale of Real Estate, net
50,000

 
$
6,850

 
$
532

 
$
2,952

Components of Operating Income from Real Estate and Related Assets Disposed
The table below summarizes the components of operating income from the real estate and related assets disposed of during the years ended December 31, 2019, 2018, and 2017, respectively (dollars in thousands):
 
 
 
For the year ended December 31,
 
 
2019
 
2018
 
2017
Operating revenue
 
$
245


$
1,007

 
$
416

Operating expense
 
786


1,004

 
471

Other income, net
 
2,614

(1)
(334
)
 
(142
)
Income (expense) from real estate and related assets sold
 
$
2,073

 
$
(331
)
 
$
(197
)
  (1) Includes $3.0 million gain on sale of real estate, net.
Components of Income from Real Estate and Related Assets Held for Sale
The table below summarizes the components of income from real estate and related assets held for sale at December 31, 2019 (dollars in thousands):

 
 
For the year ended December 31,
 
 
2019
 
2018
 
2017
Operating revenue
 
$
600

 
$
1,167

 
$
1,156

Operating expense
 
2,220

(1)
307

 
291

Other income, net
 
323

 
(36
)
 
(240
)
Income (expense) from real estate and related assets sold
 
$
(1,297
)
 
$
824

 
$
625

  (1) Includes $1.8 million impairment charge.
Components of Assets and Liabilities Held for Sale
The table below summarizes the components of the assets and liabilities held for sale reflected on the accompanying consolidated balance sheet (dollars in thousands):
 
 
 
December 31, 2019
 
December 31, 2018
Assets Held for Sale
 
 
 
 
Real estate, at cost
 
$
7,411

 
$
3,173

Less: accumulated depreciation
 
3,421

 
218

Total real estate held for sale, net
 
3,990

 
2,955

Lease intangibles, net
 
—

 
1,105

Deferred rent receivable, net
 
—

 
91

Total Assets Held for Sale
 
$
3,990

 
$
4,151

Liabilities Held for Sale
 
 
 
 
Asset retirement obligation
 
$
21

 
$
—

Total Liabilities Held for Sale
 
$
21

 
$
—