Provision for Impairment of Investment Properties (Tables)

6 Months Ended

Jun. 30, 2020

Impairment or Disposal of Tangible Assets Disclosure [Abstract]

Schedule of identified impairment indicators

The following table summarizes the results of these analyses as of June 30, 2020:

	June 30, 2020
Number of properties for which indicators of impairment were identified	2
Less: number of properties for which an impairment charge was recorded	—
Less: number of properties that were held for sale as of the date the analysis was performed for which indicators of impairment were identified but no impairment charge was recorded	—
Remaining properties for which indicators of impairment were identified but no impairment charge was considered necessary	2
Weighted average percentage by which the projected undiscounted cash flows exceeded its respective carrying value for each of the remaining properties (a)	166	%

(a)

Based upon the estimated holding period for each asset where an undiscounted cash flow analysis was performed.

Schedule of investment property impairment charges

The Company recorded the following investment property impairment charge during the six months ended June 30, 2020:

Property Name	Property Type	Impairment Date	Square Footage	Provision for Impairment of Investment Properties
King Philip’s Crossing (a)	Multi-tenant retail	February 13, 2020	105,900	$	346
				$	346
	Estimated fair value of impaired property as of impairment date			$	11,644

(a) The Company recorded an impairment charge on December 31, 2019 based upon the terms and conditions of an executed sales contract. This property was sold on February 13, 2020, at which time additional impairment was recognized pursuant to the terms and conditions of an executed sales contract.