Combined Guarantor Subsidiaries - Dispositions (Tables)

3 Months Ended

Mar. 31, 2019

Condensed Financial Statements, Captions [Line Items]

Schedule of Dispositions

The following is a summary of the Company's 2019 dispositions:

Sale/Transfer Date				Balance of Non-recourse Debt		Gain on Extinguishment of Debt
	Property	Property Type	Location
January	Acadiana Mall (1)	Mall	Lafayette, LA	$	119,760	$	61,796
January	Cary Towne Center (2)	Mall	Cary, NC	43,716		9,926
				$	163,476	$	71,722

(1) The Company transferred title to the mall to the mortgage holder in satisfaction of the non-recourse debt secured by the property. A loss on impairment of real estate of $43,007 was recorded in 2017 to write down the book value of the mall to its then estimated fair value. The Company also recorded $305 of aggregate non-cash default interest expense during the first quarter of 2019.

(2) The Company sold the mall for $31,500 and the net proceeds from the sale were used to satisfy a portion of the loan secured by the mall. The remaining principal balance was forgiven. The Company recorded a loss on impairment of real estate of $54,678 during 2018 to write down the book value of the mall to its then estimated fair value. The Company also recorded $237 of aggregate non-cash default interest expense during the first quarter of 2019.

Guarantor Subsidiaries

Condensed Financial Statements, Captions [Line Items]

Schedule of Dispositions

The following is a summary of the Combined Guarantor Subsidiaries' 2019 dispositions:

Transfer Date				Balance of Non-recourse Debt		Gain on Extinguishment of Debt
	Property	Property Type	Location
January	Acadiana Mall (1)	Mall	Lafayette, LA	$	119,760	$	61,796

(1) The Combined Guarantor Subsidiaries transferred title to the mall to the mortgage holder in satisfaction of the non-recourse debt secured by the property. A loss on impairment of real estate of $43,007 was recorded in 2017 to write down the book value of the mall to its then estimated fair value. The Combined Guarantor Subsidiaries also recorded $305 of aggregate non-cash default interest expense during the first quarter of 2019.