Subsequent Events

6 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Financing and Hedging

On July 5, the Company repaid a Core mortgage in the amount of $28.6 million.

On July 7, the Company executed a ten-year interest rate swap for a notional amount of $25.0 million as a hedge against increases in future interest rates on its previously unhedged variable-rate Core borrowings.

Dispositions

On July 6, Fund III sold its consolidated New Hyde Park Shopping Center for $22.1 million. As this sale was probable of occurring at June 30, the property was classified as held for sale at that date (Note 2).

On July 14, Fund II entered into a purchase and sale agreement for the sale of its City Point Tower I property for $96.0 million. As the carrying amount less estimated costs to sell was $92.0 million at June 30, 2017, the Company anticipates recording an impairment charge of approximately $4.0 million during the third quarter of 2017.

Acquisition

On July 27,Fund V acquired a retail property for$44.0 million.It is not practicable to disclose the preliminary purchase price allocation or consolidated pro forma financial information for this transaction given the short period of time between the acquisition dates and the filing of this Report.

Other

In July 2017, the Company received a $2.3 million cash distribution from its Albertson’s investment (Note 4).