Disposition of Properties and Properties Held for Sale |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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
At June 30, 2015, we had a contractual agreement to sell four properties totaling approximately 712,000 square feet classified as rental property held for sale on the consolidated balance sheets. The results of operations for these properties are included in continuing operations as the potential sale did not meet the criteria set forth in the recently adopted guidance requiring the result of operations to be separately set forth as discontinued operations.
The carrying values of the rental properties held for sale were comprised of the following (in thousands):
Subsequent to June 30, 2015, we concluded that the sale of these four outlet centers was no longer probable as a result of the buyer's inability to secure acceptable financing. In the third quarter of 2015, we will reclassify the four outlet centers from held for sale to held and used and record an adjustment of approximately $1.6 million representing the depreciation and amortization expense that would have been recognized had the properties been continuously classified as held and used.
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- Definition Disposition of Properties and Properties Held for Sale [Abstract] No definition available.
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- Definition The entire disclosure for disposition of properties and properties held for sale No definition available.
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