ASSETS AND LIABILITIES HELD FOR SALE

3 Months Ended

Mar. 31, 2021

ASSETS AND LIABILITIES HELD FOR SALE

ASSETS AND LIABILITIES HELD FOR SALE

NOTE 25. ASSETS AND LIABILITIES HELD FOR SALE

Assets and liabilities held for sale as of March 31, 2021 and December 31, 2020 are summarized below (in thousands). One single-tenant income property was classified as held for sale as of March 31, 2021.

	As of March 31, 2021
	Land JV		Single-Tenant Income Properties		Total Assets (Liabilities) Held for Sale
Plant, Property, and Equipment - Net	$	—	$	3,635	$	3,635
Restricted Cash		833		—		833
Intangible Lease Assets - Net		—		65		65
Intangible Lease Liabilities - Net		—		(28)		(28)
Total Assets Held for Sale	$	833	$	3,672	$	4,505
Deferred Revenue	$	(831)	$	—	$	(831)
Total Liabilities Held for Sale	$	(831)	$	—	$	(831)

	As of December 31, 2020
	Land JV		Single-Tenant Income Properties		Total Assets (Liabilities) Held for Sale
Restricted Cash	$	833	$	—	$	833
Total Assets Held for Sale	$	833	$	—	$	833
Deferred Revenue	$	(831)	$	—	$	(831)
Total Liabilities Held for Sale	$	(831)	$	—	$	(831)

Deferred Revenue on Land Sales. In conjunction with the land sale to Buc-ee’s in March 2018, the Company funded an escrow account for $0.8 million related to the portion of the acreage sold for which the Company was obligated to perform wetlands mitigation. As a result of the Company’s obligation, $0.8 million of the sales price collected at closing was deferred and the revenue was to be recognized upon the Company’s performance of the obligation. See Note 23, “Commitments and Contingencies” for further discussion related to the escrowed funds.