Real Estate (Tables)

12 Months Ended

Dec. 31, 2021

Real Estate [Abstract]

Real Estate and Accumulated Depreciation

Real estate activity for 2021 and 2020 is composed of the following:

	Years ended December 31,
	2021			2020
Cost
Balance, beginning of year	$	1,527,478,000		$	1,515,206,000
Properties transferred to held for sale		(184,639,000	)		(22,512,000	)
Outparcel dispositions		(387,000	)		(840,000	)
Property impairments		(83,224,000	)		—
Improvements and betterments		29,296,000			35,624,000
Balance, end of the year	$	1,288,524,000		$	1,527,478,000
Accumulated depreciation
Balance, beginning of the year	$	428,569,000		$	389,861,000
Properties transferred held for sale		(55,165,000	)		(3,947,000	)
Outparcel dispositions		—			(90,000	)
Depreciation expense		36,338,000			42,745,000
Balance, end of the year	$	409,742,000		$	428,569,000
Net book value	$	878,782,000		$	1,098,909,000

Schedule of Transactions Related to Properties Held for Sale/Conveyance

Dispositions

During 2021, 2020 and 2019, the Company sold the properties listed below:

					Gain on Sale/
		Date	Sales		Reversal of
Property	Location	Sold	Price		Impairment
2021
Kempsville Crossing (land parcel)	Virginia Beach, VA	2/24/2021	$	1,300,000	$	1,047,000
The Commons	Dubois, PA	5/5/2021		9,761,000		1,849,000
Camp Hill Shopping Center	Camp Hill, PA	6/21/2021		89,662,500		48,857,000
			$	100,723,500	$	51,753,000
2020
Metro Square	Owings Mills, MD	7/9/2020	$	4,288,000	$	-
Oakland Mills outparcel building	Columbia, MD	9/17/2020		1,050,000		643,000
Glen Allen Shopping Center	Glen Allen, VA	10/8/2020		8,540,000		1,780,000
Pine Grove Plaza outparcel building	Brown Mills, NJ	11/2/2020		1,100,000		565,000
Suffolk Plaza	Suffolk, VA	12/10/2020		6,950,000		1,408,000
			$	21,928,000	$	4,396,000
2019
Maxatawny Marketplace	Maxatawny, PA	2/15/2019	$	10,330,000	$	101,000
Fort Washington Center	Fort Washington, PA	6/26/2019		9,048,000		2,841,000
			$	19,378,000	$	2,942,000