Note 7 – Dispositions and Held-for-Sale

Dispositions

Based on its analysis, the Company determined that the dispositions described below do not meet the criteria for classification as discontinued operations and are not considered to be significant disposals based on its quantitative and qualitative evaluation. Thus, the results of operations of the properties described below, as well as any related gains or losses, are included in net income (loss) for all periods presented, as applicable.

2025 Dispositions

During the three months ended June 30, 2025, the Company realized a gain of $1,339 primarily related to the sale of an outparcel. During the six months ended June 30, 2025, the Company realized a gain of $22,871 primarily related to the sales of Imperial Valley Mall, Annex at Monroeville, Monroeville Mall, three outparcels associated with the Monroeville Mall properties, a land parcel associated with Imperial Valley Mall and an outparcel. For the three and six months ended June 30, 2025, gross proceeds from sales of real estate assets were $5,000 and $77,100, respectively, which were primarily used to partially paydown the secured term loan and the open-air centers and outparcels loan. See Note 9 for more information. The Company recorded a loss on impairment related to the sale of 840 Greenbrier Circle. See Note 5 for more information. Subsequent to June 30, 2025, the Company sold The Promenade for $83,100. See Note 15 for more information.

2024 Dispositions

During the three and six months ended June 30, 2024, the Company realized a loss of $50 and a gain of $3,671, respectively, related to the sale of an anchor parcel. Gross proceeds from sales of real estate assets was $7,745. In addition, the Company recorded a loss on impairment related to an outparcel that was sold. See Note 5 for more information.

Held-for-Sale