Quarterly report pursuant to Section 13 or 15(d)

Disposition of Properties and Properties Held for Sale

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Disposition of Properties and Properties Held for Sale
3 Months Ended
Mar. 31, 2016
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 January 2016, we sold our outlet center in Fort Myers, Florida located near Sanibel Island for net proceeds of approximately $25.8 million. The proceeds from the sale of this unencumbered asset were used to pay down balances outstanding under our unsecured lines of credit.

The following table sets forth certain summarized information regarding the properties sold during the quarter ended March 31, 2016:
Properties
 
Locations
 
Date Sold
 
Square Feet
(in 000's)
 
Net Sales Price
(in 000's)
 
Gain on Sale(in 000's)
Sold:
 
 
 
 
 
 
 
 
 
 
Sanibel Center
 
Fort Myers, Florida
 
January 2016
 
199

 
$
25,785

 
$
4,887



The rental property sold did not meet the criteria for reporting discontinued operations, thus its results of operations have remained in continuing operations.