Property Dispositions, and Real Estate Impairment

6 Months Ended

Jun. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Property Dispositions, Discontinued Operations and Real Estate Impairment

Property Dispositions and Real Estate Impairment

During the six months ended June 30, 2017, the Company sold its interests in various properties for an aggregate gross sales price of $151,856. During the six months ended June 30, 2016, the Company disposed of its interest in various properties, including land investments, for an aggregate gross sales price of $166,834.

During the six months ended June 30, 2017 and 2016, the Company recognized aggregate gains on sales of properties of $44,433 and $42,341, respectively. In addition, during the six months ended June 30, 2017 and 2016, the Company recognized debt satisfaction charges of $44 and $3,321, respectively, relating to sold properties.

As of June 30, 2017 and December 31, 2016, the Company had one property and two properties, respectively, classified as held for sale.

Assets and liabilities of held for sale properties as of June 30, 2017 and December 31, 2016 consisted of the following:

	June 30, 2017		December 31, 2016
Assets:
Real estate, at cost	$	5,941	$	25,957
Real estate, intangible assets	—		7,789
Accumulated depreciation and amortization	—		(13,346		)
Rent receivable - deferred	—		1,715
Other assets	43		1,693
	$	5,984	$	23,808
Liabilities:
Other	$	324	$	191
	$	324	$	191

The Company assesses on a regular basis whether there are any indicators that the carrying value of its real estate assets may be impaired. Potential indicators may include an increase in vacancy at a property, tenant financial instability and the potential sale or transfer of the property in the near future. An asset is determined to be impaired if the asset's carrying value is in excess of its estimated fair value. During the six months ended June 30, 2017 and 2016, the Company recognized aggregate impairment charges of $16,297 and $3,014, respectively, on properties sold and properties held for use.