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Assets Held For Sale

3 Months Ended

Mar. 31, 2022

Discontinued Operations And Disposal Groups [Abstract]

NOTE 10. — ASSETS HELD FOR SALE

We evaluate the held for sale classification of our real estate as of the end of each quarter. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value less costs to sell. As of March 31, 2022, one property met the criteria to be classified as held for sale.

Real estate held for sale consisted of the following as of March 31, 2022 and December 31, 2021 (in thousands):

	March 31, 2022			December 31, 2021
Land	$	176		$	2,949
Buildings and improvements		307			2,247
		483			5,196
Accumulated depreciation and amortization		(307	)		(1,575	)
Real estate held for sale, net	$	176		$	3,621

During the three months ended March 31, 2022, we sold 15 properties, resulting in an aggregate gain of $6,015,000, which is included in gains on dispositions of real estate in our consolidated statements of operations. In addition, during the three months ended March 31, 2022 we received funds from one partial property condemnation resulting in a gain of $138,000, which is included in gains on dispositions of real estate in our consolidated statements of operations.