Dispositions and Impairment

3 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Dispositions and Impairment

Dispositions and Impairment

During the three months ended March 31, 2022 and 2021, the Company disposed of its interests in various properties for an aggregate gross disposition price of $289 and $58,092, respectively, and recognized aggregate gains on sales of properties of $255 and $21,919, respectively.

The Company had 10 and eight properties classified as held for sale at March 31, 2022 and December 31, 2021, respectively. Assets and liabilities of the held for sale properties as of March 31, 2022 and December 31, 2021 consisted of the following:

	March 31, 2022		December 31, 2021
Assets:
Real estate, at cost	$	204,029	$	170,117
Real estate, intangible assets	15,161		9,454
Accumulated depreciation and amortization	(116,242)		(99,659)
Deferred expenses, net	1,822		1,759
Other	1,883		915
	$	106,653	$	82,586
Liabilities:
Accounts payable and liabilities	$	1,779	$	1,908
Deferred revenue	443		483
Prepaid rent	1,657		1,077
	$	3,879	$	3,468

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, change in the estimated holding period of the asset, the potential sale or transfer of the property in the near future and changes in economic conditions. An asset is determined to be impaired if the asset's carrying value is in excess of its estimated fair value and the Company estimates that its cost will not be recovered. During the three months ended March 31, 2022 and 2021, there were no impairment charges recorded.