Real Estate (Tables)

6 Months Ended

Jun. 30, 2022

Real Estate [Abstract]

Schedule of Property Disposition

The following table shows the property disposition during the six months ended June 30, 2022:

				Date	Sales
Disposition	Location	GLA		Sold	Price		Impairment
Riverview Plaza	Philadelphia, PA		108,902	5/16/2022	$	34,000,000	$	(199,000	)

Summary of Income from Discontinued Operations

The following is a summary of income from discontinued operations:

	Three months ended June 30,						Six months ended June 30,
	2022			2021			2022			2021
REVENUES
Rental revenues	$	21,546,000		$	21,277,000		$	43,677,000		$	43,771,000
Other		102,000			99,000			157,000			221,000
Total revenues		21,648,000			21,376,000			43,834,000			43,992,000
EXPENSES
Operating, maintenance and management		5,108,000			4,454,000			10,441,000			9,916,000
Real estate and other property-related taxes		3,278,000			3,229,000			6,534,000			6,491,000
General and administrative		91,000			(223,000	)		151,000			(99,000	)
Depreciation and amortization		3,964,000			7,281,000			9,726,000			15,031,000
Total expenses		12,441,000			14,741,000			26,852,000			31,339,000
OPERATING INCOME		9,207,000			6,635,000			16,982,000			12,653,000
NON-OPERATING INCOME AND EXPENSES
Interest expense		(1,509,000	)		(1,182,000	)		(3,036,000	)		(1,709,000	)
Total non-operating income and expenses		(1,509,000	)		(1,182,000	)		(3,036,000	)		(1,709,000	)
INCOME FROM DISCONTINUED OPERATIONS		7,698,000			5,453,000			13,946,000			10,944,000
Impairment charges		(16,119,000	)		-			(16,630,000	)		-
Gain on sales		-			-			-			1,047,000
TOTAL (LOSS) INCOME FROM DISCONTINUED OPERATIONS	$	(8,421,000	)	$	5,453,000		$	(2,684,000	)	$	11,991,000