Properties Held for Sale and Property Dispositions

6 Months Ended

Jun. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Properties Held for Sale and Property Dispositions

Properties Held for Sale and Property Dispositions

Properties Held for Sale

As of June 30, 2024, Palisades Premier Conference Center was classified as held for sale as we entered into an agreement to sell the property for $26.3 million. The sale closed in July 2024.

Property Dispositions

The following table summarizes the properties sold during the six months ended June 30, 2024:

Property	Disposition Date	Property Type	Unaudited Approximate Usable Square Feet	Sales Price (1) (in millions)		Loss on Sale (in millions) (2)
719 Seventh Avenue	June 2024	Fee Interest	10,040	$	30.5	$	(2.0)

(1)Sales price represents the gross sales price for a property or the gross asset valuation for interests in a property.

(2)The loss on sale is net of $2.1 million of employee compensation accrued in connection with the realization of the investment disposition. The amounts do not include adjustments for expenses recorded in subsequent periods.