Property Dispositions and Assets Held for Sale

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Property Dispositions and Assets Held for Sale

3. Property Dispositions and Assets Held for Sale

The following table provides a summary of consolidated shopping centers and land parcels sold during the periods set forth below:

	Three months ended March 31,
(in thousands, except number sold data)	2024		2023
Net proceeds from sale of real estate investments	$	30,033		2,923
Gain on sale of real estate, net of tax		11,403		250
Number of operating properties sold		1		—
Number of land parcels sold		—		1
Percent interest sold	100%		100%

As of March 31, 2024 the Company had one property held for sale. As of December 31, 2023 the Company had one property held for sale that was subsequently sold during the period as noted in the table above. There were no liabilities associated with the properties classified as held for sale. The following table presents the assets associated with the properties classified as held for sale:

(in thousands)	March 31, 2024			December 31, 2023
Land and improvements	$	27,003			9,120
Buildings and improvements		9,425			12,551
Less: accumulated depreciation		(2,928	)		(3,461	)
Real estate, net		33,500			18,210
Other assets, net		72			668
Assets associated with real estate assets held for sale	$	33,572			18,878