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DISPOSITIONS
3 Months Ended
Mar. 31, 2018
DISPOSITIONS  
DISPOSITIONS

NOTE 16 – DISPOSITIONS

 

During the three months ended March 31, 2018, there were no properties held for sale or disposed.

 

During September 2016, the Company entered into a purchase agreement to sell a retail property located in Fargo, North Dakota.  This property qualified for held for sale accounting treatment upon meeting all applicable GAAP criteria on or prior to September 30, 2016, at which time depreciation and amortization ceased.  As such, the assets and liabilities associated with this property were separately classified as held for sale in the consolidated balance sheet as of December 31, 2016.   During the second quarter ended June 30, 2017, the operating partnership sold the Fargo, North Dakota retail property for approximately $4,400 and recognized a gain of $2,072.