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Disposition of Properties and Properties Held for Sale
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Dec. 31, 2014
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| Disposition of Properties and Properties Held for Sale [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disposition of Properties and Properties Held for Sale |
Disposition of Properties and Properties Held for Sale
In the fourth quarter of 2014, we entered into an agreement with a private buyer to acquire our outlet center in Lincoln City, Oregon along with an option agreement to purchase an additional four properties. Subsequently, the buyer purchased the Lincoln City outlet center in December 2014. The buyer now has the option to purchase three properties during the first quarter of 2015 and, should they acquire those properties, one property during the first quarter of 2016.
The sold and held for sale rental properties did not meet the criteria set forth in the newly-adopted guidance for reporting discontinued operations (See Note 2—Summary of Significant Accounting Policies), thus their results of operations have remained in continuing operations. The held for sale rental properties have been classified as rental property held for sale as of December 31, 2014 on the consolidated balance sheets.
The carrying values of the assets of those properties that remained unsold at December 31, 2014 totaled $46.0 million and were comprised of the following (in thousands):
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- Details
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- Definition
The entire disclosure for disposition of properties and properties held for sale No definition available.
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