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ACQUISITION AND DISPOSITION OF REAL ESTATE AND DISCONTINUED OPERATIONS (Tables) | 3 Months Ended
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Mar. 31, 2013
Restructuring Cost and Reserve [Line Items] |
Combined Assets and Liabilities and Results of Operations of the Properties Classified as Discontinued Operations | The combined assets and liabilities as of March 31, 2013 and December 31, 2012, and the results of operations of the properties classified as discontinued operations for the three months ended March 31, 2013 and March 31, 2012, respectively, are summarized as follows:
BALANCE SHEET |  |  |  |
ASSETS |  | March 31, 2013 | December 31, 2012
(dollars in thousands) |  |  |  |
Net real estate |  | $ | 19,468 |  | $ | 19,400 |
Rents receivable, net |  | 875 |  | 917 |
Deferred charges, net |  | 360 |  | 612 |
Prepaid expenses and other assets |  | 311 |  | 1,132 |
Total assets of discontinued operations |  | $ | 21,014 |  | $ | 22,061 |
LIABILITIES |  |  |  |
Mortgage notes payable |  | $ | 9,178 |  | $ | 9,208 |
Accounts payable and accrued expenses |  | 2,124 |  | 3,125 |
Other liabilities |  | 609 |  | 765 |
Total liabilities of discontinued operations |  | $ | 11,911 |  | $ | 13,098 |
4. | ACQUISITION OF REAL ESTATE AND DISCONTINUED OPERATIONS (continued)
Discontinued Operations (continued)
|  | Three Months Ended
STATEMENTS OF OPERATIONS |  | March 31,
(dollars in thousands) |  | 2013 |  | 2012
Total revenues |  | $ | 1,170 |  |  | $ | 9,713 |
Total expenses |  | 773 |  |  | 7,386 |
Income from discontinued operations |  | 397 |  |  | 2,327 |
Income from discontinued operations attributable to noncontrolling interests |  | (348 | ) |  | (1,805 | )
Income from discontinued operations attributable to Common Shareholders |  | $ | 49 |  |  | $ | 522 |
Acquisitions in 2013 |
Restructuring Cost and Reserve [Line Items] |
Preliminary Schedule of Purchase Price Allocation | The following table summarizes the Company's preliminary allocations of the purchase prices of assets acquired and liabilities assumed during 2013:
(dollars in thousands) | Preliminary Purchase Price Allocations (1)
Land | $ | 22,182 |
Buildings and improvements | 83,865 |
Total consideration | $ | 106,047 |
Note: (1) Represents preliminary allocations for 2013 acquisitions where purchase price allocations have not been finalized.
Acquisitions in 2012 |
Restructuring Cost and Reserve [Line Items] |
Preliminary Schedule of Purchase Price Allocation | The following table summarizes the preliminary allocations of the purchase prices of these properties as recorded as of December 31, 2012, and the finalized allocations of the purchase prices as adjusted as of March 31, 2013:
(dollars in thousands) | Finalized Purchase Price Allocations | Preliminary Purchase Price Allocations
Land | $ | 4,933 |  | $ | 5,175 |
Buildings and improvements | 14,587 |  | 15,525 |
Acquisition-related intangible assets (in Acquired lease intangibles, net) | 1,180 |  | — |
Total consideration | $ | 20,700 |  | $ | 20,700 |

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- Definition Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43, 44, 45, 47, 48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 + Details
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- Definition Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6927-128479 + Details
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