Quarterly report pursuant to Section 13 or 15(d)

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

v3.20.2
Real Estate Dispositions, Held for Sale and Impairment Charges (Tables)
 6 Months Ended
Jun. 30, 2020
Real Estate [Abstract]  
Summary of Sold Properties On February 20, 2020, we sold one non-core property, located in Charlotte, North Carolina, which is detailed in the table below (dollars in thousands):

Square Footage Sold
 
Sales Price
 
Sales Costs
 
Loss on Sale of Real Estate, net
64,500

 
$
4,145

 
$
198

 
$
(12
)

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 three and six months ended June 30, 2020, and 2019 (dollars in thousands):

 
 
For the three months ended June 30,
 
For the six months ended June 30,
 
 
2020
 
2019
 
2020
 
2019
Operating revenue
 
$
—

 
$
294

 
$
—


$
589

Operating expense
 
1

 
77

 
32


147

Other expense, net
 
—

(1)
(1
)
 
(12
)
(1)
(1
)
(Expense) income from real estate and related assets sold
 
$
(1
)
 
$
216

 
$
(44
)
 
$
441


(1)
Includes a $0.01 million loss on sale of real estate, net on one property.

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 condensed consolidated balance sheets (dollars in thousands):
 
 
June 30, 2020
 
December 31, 2019
Assets Held for Sale
 
 
 
Real estate, at cost
$
18,204

 
$
7,411

Less: accumulated depreciation
6,539

 
3,421

Total real estate held for sale, net
11,665

 
3,990

Lease intangibles, net
171

 
—

Deferred rent receivable, net
3

 
—

Total Assets Held for Sale
$
11,839

 
$
3,990

Liabilities Held for Sale
 
 
 
Asset retirement obligation
$
149

 
$
21

Total Liabilities Held for Sale
$
149

 
$
21