Dispositions and Impairment

6 Months Ended

Jun. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Dispositions and Impairment

Dispositions and Impairment

During the six months ended June 30, 2022 and 2021, the Company disposed of its interests in various properties for an aggregate gross disposition price of $55,395 and $183,427, respectively, and recognized aggregate gains on sales of properties of $28,110 and $88,645, respectively.

The Company had eight properties classified as held for sale at June 30, 2022 and December 31, 2021, respectively. Assets and liabilities of the held for sale properties as of June 30, 2022 and December 31, 2021 consisted of the following:

	June 30, 2022		December 31, 2021
Assets:
Real estate, at cost	$	202,810	$	170,117
Real estate, intangible assets	14,492		9,454
Accumulated depreciation and amortization	(107,393)		(99,659)
Deferred expenses, net	1,629		1,759
Other	3,008		915
	$	114,546	$	82,586
Liabilities:
Accounts payable and liabilities	$	2,004	$	1,908
Deferred revenue	1,696		483
Prepaid rent	1,395		1,077
	$	5,095	$	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 six months ended June 30, 2022, the Company recognized an impairment charge on real estate of $1,829 due to vacancy at the property. During the six months ended June 30, 2021, there were no impairment charges recorded.