Note 10 - Other Assets

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Other Assets Disclosure [Text Block]

10. Other Assets

Assets Held-For-Sale

At March 31, 2024, the Company had a property classified as held-for-sale at a net carrying amount of $1.6 million (including accumulated depreciation and amortization of $0.1 million). The Company’s determination of the fair value of the property was based upon executed contracts of sale with third parties. The book value of the property exceeded its estimated fair value, less costs to sell, and as such an impairment charge of $1.7 million was recognized during the three months ended March 31, 2024.

Mortgages and Other Financing Receivables

During the three months ended March 31, 2024, the Company provided, as a lender, the following mortgage and other financing receivables (dollars in millions):

Date Issued	Face Amount		Interest Rate				Maturity Date
Feb-24	$	9.3		10.00%			Feb-29
Mar-24*	$	9.0		12.00%			Mar-29
Mar-24*	$	166.1		6.35%	-	10.00%	Mar-29-Mar-34

* Issued as lender seller financing related to the sale of nine operating properties which were acquired in conjunction with the RPT Merger.

During the three months ended March 31, 2024, the Company incurred charges of $2.0 million in allowance for credit loss relating to its mortgage and other financing receivables.

During the three months ended March 31, 2024, the Company collected the following mortgage and other financing receivables (dollars in millions):

Date Collected	Face Amount		Interest Rate				Maturity Date
Mar-24	$	38.2		6.35%	-	10.00%	Mar-29-Mar-34