Question-and-Answer Session
Operator
(Operator instruction)
Your next question comes from the line of Michael Bilerman with Citigroup.
Michael Bilerman - Citigroup
Can you please review the current impairment issue that you took during the quarter?
Kevin Habicht
Yes, impairment during the fourth quarter totaling $1,563, 000 it surely happened discount investment portfolio. We got a property that we brand our self as an old property and so we decided not to re-lease it and just to go ahead and sell it and we actually had it under contract.
Michael Bilerman - Citigroup
Are you undergoing any impairment test in the inventory portfolio at the moment?
Kevin Habicht
We go through to impairment test every quarter and obviously we did not have anymore to report than that.
Michael Bilerman - Citigroup
And you lose around $25 million or so that is the REIT. Could you talk about that position and how much more you would consider to moving back from the RF into the REIT?
Kevin Habicht
. Last year we talk about our inventory portfolio and if there were a number of properties in there that we have like to sell if we could. The market is suboptimal. These are properties which we are happy to hold and in the inventory portfolio, a holder of them. The actual number is really closer to about $30 million to what is good.
Michael Bilerman - Citigroup
And then on, do you have any change on any specific tenants or sector that you are particularly concerned about at the moment. You talked about all these towards in your conference with that industry. Near approach catching on some of the big industries like the 21:53 high risk strong drives result?
Kevin Habicht
Everyday, since we come to work particularly you guys living up there in the northeast, Manhattan and the media has negative press release. Today the auto sales for January are particular dismal and with the consumer staying at home and not visiting retail stores, a lot of those businesses when you cut through it is in a very high fixed cost phase. We are worried about every single tenant in our universe. What slightly different with these go around is that it extends both to small companies as well as to the bigger public companies. Let us be honest who would have thought two, three years ago that Circuit City would be liquidated and so it is across the board. There is stress in every single retailer. The top line is down and there are higher fixed cost businesses that having said that our portfolio is relatively in good shape vis-à-vis the retail industry.
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