REAL ESTATE SALES

9 Months Ended

Sep. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

During the nine months ended September 30, 2020, the Company sold one office property. The results of operations for the property sold during the nine months ended September 30, 2020 are included in continuing operations on the Company’s consolidated statements of operations. As of September 30, 2020, the Company did not have any real estate properties held for sale. The following table summarizes certain revenue and expenses related to the property that was sold during the nine months ended September 30, 2020, which were included in continuing operations (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Revenues
Rental income	$	—	$	572	$	100	$	1,682
Other operating income	—		17		—		59
Total revenues	$	—	$	589	$	100	$	1,741
Expenses
Operating, maintenance, and management	$	—	$	171	$	41	$	493
Property management fees and expenses to affiliate	—		8		1		25
Real estate taxes and insurance	—		77		15		226
Asset management fees to affiliate	—		55		10		163
General and administrative expenses	—		4		18		9
Depreciation and amortization	—		130		—		414
Interest expense	—		203		30		839
Total expenses	$	—	$	648	$	115	$	2,169

The following summary presents the major components of assets and liabilities related to real estate held for sale as of September 30, 2020 and December 31, 2019 (in thousands). No real estate properties were held for sale as of September 30, 2020:


	September 30, 2020		December 31, 2019
Assets related to real estate held for sale
Total real estate, at cost	$	—	$	20,602
Accumulated depreciation and amortization	—		(2,008)
Real estate held for sale, net	—		18,594
Other assets	—		760
Total assets related to real estate held for sale	$	—	$	19,354
Liabilities related to real estate held for sale
Total notes payable, net	$	—	$	13,948
Other liabilities	—		1,057
Total liabilities related to real estate held for sale	$	—	$	15,005