Property Dispositions and Assets Held for Sale

3 Months Ended

Mar. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

Property Dispositions and assets held for sale

3. Property Dispositions and Assets Held for Sale

There were no property dispositions during the three months ended March 31, 2025. The following table provides a summary of consolidated shopping centers and land parcels sold during the comparative period:

	Three months ended March 31,
(in thousands, except number sold data)	2024
Net proceeds from sale of real estate investments	$	30,033
Gain on sale of real estate, net of tax		11,403
Number of operating properties sold		1
Percent interest sold	100%

As of March 31, 2025 the Company had one operating property and one land parcel classified as held for sale. There were no liabilities associated with these properties. As of December 31, 2024 the Company did not have any of its properties classified as held for sale. The following table presents the assets associated with the properties classified as held for sale as of March 31, 2025:

(in thousands)	March 31, 2025
Land and improvements	$	12,345
Buildings and improvements		4,858
Less: accumulated depreciation		(983	)
Assets associated with real estate assets held for sale	$	16,220