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DISCONTINUED OPERATIONS
 3 Months Ended
Mar. 31, 2013
DISCONTINUED OPERATIONS  
DISCONTINUED OPERATIONS

13.  DISCONTINUED OPERATIONS

 

For the three months ended March 31, 2013, discontinued operations relates to five properties that the Company sold during 2013.  Each of the sales during 2013 resulted in the recognition of a gain, which in the aggregate totaled $0.2 million. For the three months ended March 31, 2012, discontinued operations relates to five properties that the Company sold during 2013 and 26 properties sold during 2012.

 

The following table summarizes the revenue and expense information for the period the Company owned the properties classified as discontinued operations as of March 31, 2013 (in thousands):

 

 

 

 

Three months ended March 31,

 

 

2013

 

2012

 

 

 

 

 

REVENUES

 

 

 

 

Rental income

 

  $

389

 

  $

2,790

Other property related income

 

73

 

297

Total revenues

 

462

 

3,087

OPERATING EXPENSES

 

 

 

 

Property operating expenses

 

221

 

1,342

Depreciation and amortization

 

57

 

680

Total operating expenses

 

278

 

2,022

OPERATING INCOME

 

184

 

1,065

Income from discontinued operations

 

184

 

1,065

Gain on disposition of discontinued operations

 

228

 

-

Total discontinued operations

 

  $

412

 

  $

1,065