Dispositions and Held for Sale (Tables)

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Dispositions and Held-for-Sale

Net proceeds realized from the 2019 dispositions listed below were used to reduce the outstanding balance on the Company's credit facility.

				Sales Price
Sales Date	Property	Property Type	Location	Gross		Net		Gain
April	Honey Creek Mall (1)	Malls	Terre Haute, IN	$	14,600	$	14,360	$	—
April	The Shoppes at Hickory Point	Malls	Forsyth, IL	2,508		2,407		1,326
June	Courtyard by Marriott at Pearland Town Center	All Other	Pearland, TX	15,100		14,795		1,910
July	850 Greenbrier Circle	All Other	Chesapeake, VA	10,500		10,332		96
July	Kroger at Foothills Plaza	All Other	Maryville, TN	2,350		2,267		1,139
July	The Forum at Grandview	All Other	Madison, MS	31,750		31,606		47
July	Barnes & Noble parcel	All Other	High Point, NC	2,000		1,899		821
September	Dick's Sporting Goods at Hanes Mall	All Other	Winston-Salem, NC	10,000		9,649		2,907
				$	88,808	$	87,315	$	8,246

(1) The Company recognized a loss on impairment of $2,284 in March 2019 when it adjusted the book value of the mall to the net sales price based on a signed contract with a third party buyer and recognized $(239) in April 2019 related to a true-up of closing costs. See Note 5 for additional information.

Sale/Transfer Date				Balance of Non-recourse Debt		Gain on Extinguishment of Debt
	Property	Property Type	Location
January	Acadiana Mall (1)	Malls	Lafayette, LA	$	119,760	$	61,796
January	Cary Towne Center (2)	Malls	Cary, NC	43,716		9,926
				$	163,476	$	71,722

(1) The Company transferred title to the mall to the mortgage holder in satisfaction of the non-recourse debt secured by the property. A loss on impairment of real estate of $43,007 was recorded in 2017 to write down the book value of the mall to its then estimated fair value. The Company also recorded $305 of aggregate non-cash default interest expense during the first quarter of 2019.

(2)

The Company sold the mall for $31,500 and the net proceeds from the sale were used to satisfy a portion of the loan secured by the mall. The remaining principal balance was forgiven. The Company recorded a loss on impairment of real estate of $54,678 during 2018 to write down the book value of the mall to its then estimated fair value. The Company also recorded $237 of aggregate non-cash default interest expense during the first quarter of 2019.