v3.26.1
Dispositions and Held for Sale
6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Dispositions and Held for Sale

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.

2026 Dispositions

During the three months ended June 30, 2026, the Company realized a gain of $13,633 related to the sale of seven outparcels (April 2026 and June 2026). During the six months ended June 30, 2026, the Company realized a gain of $15,035 related to the sale of eight outparcels (January 2026, April 2026 and June 2026). For the three and six months ended June 30, 2026, gross proceeds from sales of real estate assets were $19,202 and $20,696, respectively.

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 (February 2025), Annex at Monroeville (January 2025), Monroeville Mall (January 2025), three outparcels associated with the Monroeville Mall properties (January 2025), a land parcel associated with Imperial Valley Mall (February 2025) and an outparcel (April 2025). 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 used to partially paydown the secured term loan and the 2032 non-recourse bank 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.

Held-for-Sale

As of June 30, 2026 and December 31, 2025, there were no properties that met the criteria to be classified as held-for-sale.