Dispositions and Impairment

6 Months Ended

Jun. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Dispositions and Impairment

Dispositions and Impairment

During the six months ended June 30, 2023 and 2022, the Company disposed of its interests in various properties for an aggregate gross disposition price of $27,910 and $55,395, respectively, and recognized aggregate gains on sales of properties of $7,879 and $28,110, respectively.

The Company had four and three properties classified as held for sale at June 30, 2023 and December 31, 2022, respectively. Assets and liabilities of the held for sale properties at June 30, 2023 and December 31, 2022 consisted of the following:

	June 30, 2023		December 31, 2022
Assets:
Real estate, at cost	$	59,918	$	131,557
Real estate, intangible assets	1,777		9,942
Accumulated depreciation and amortization	(14,119)		(76,205)
Other	2,068		1,140
	$	49,644	$	66,434
Liabilities:
Accounts payable and liabilities	$	407	$	637
Deferred revenue	241		143
Prepaid rent	1,055		370
	$	1,703	$	1,150

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, 2023, the Company recognized aggregate impairment charges of $16,490 due to potential property sales. The Company recognized impairment charges of $1,829 on real estate during the six months ended June 30, 2022 due to vacancy at the property.