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Discontinued Operations | 6 Months Ended
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Jun. 30, 2020
Discontinued Operations And Disposal Groups [Abstract] |
Discontinued Operations |
4. | Discontinued Operations
On March 6, 2020, we entered into an agreement to sell 1899 Pennsylvania Avenue, our sole remaining property in Washington, D.C. This disposition represents a strategic shift in our operations, where over the past two years, we have exited the Washington, D.C. office market by selling or entering into agreements to sell all of the assets in our Washington, D.C. portfolio. The disposition of this sole remaining asset meets the criteria of discontinued operations, under ASC Topic 205, Presentation of Financial Statements. Accordingly, we have reclassified the assets and liabilities and the results of operations of our Washington, D.C. segment as discontinued operations for all periods presented. The tables below set forth the details of the assets and liabilities and results of operations related to discontinued operations as of the dates thereof and for the periods set forth below.
(Amounts in thousands) |  | As of |
Balance Sheets: (1) |  | June 30, 2020 |  |  | December 31, 2019 |
Real estate, net | $ | 93,837 |  |  | $ | 94,251 |
Deferred rent receivable |  | 4,008 |  |  |  | 4,206 |
Deferred charges, net |  | 780 |  |  |  | 804 |
Intangible assets, net |  | 5,290 |  |  |  | 5,575 |
Assets related to discontinued operations | $ | 103,915 |  |  | $ | 104,836 |
(Amounts in thousands) |  | For the Three Months Ended |  |  | For the Six Months Ended |
Income Statements: (2) |  | June 30, 2020 |  |  | June 30, 2019 |  |  | June 30, 2020 |  |  | June 30, 2019 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental revenue |  | $ | 3,515 |  |  | $ | 7,096 |  |  | $ | 7,078 |  |  | $ | 14,371 |
Fee and other income |  |  | 31 |  |  |  | 144 |  |  |  | 130 |  |  |  | 272 |
Total revenues |  |  | 3,546 |  |  |  | 7,240 |  |  |  | 7,208 |  |  |  | 14,643 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 1,399 |  |  |  | 2,836 |  |  |  | 2,850 |  |  |  | 5,756 |
Depreciation and amortization |  |  | - |  |  |  | 2,348 |  |  |  | 690 |  |  |  | 4,725 |
Total expenses |  |  | 1,399 |  |  |  | 5,184 |  |  |  | 3,540 |  |  |  | 10,481 |
Income from discontinued operations, net |  | $ | 2,147 |  |  | $ | 2,056 |  |  | $ | 3,668 |  |  | $ | 4,162 |
(1) | Represents assets of 1899 Pennsylvania Avenue. |
(2) | Represents revenues, expenses and net income of 1899 Pennsylvania Avenue in the three and six months ended June 30, 2020 and 1899 Pennsylvania Avenue and Liberty Place in the three and six months ended June 30, 2019. |
The table below sets forth the details of the cash flows from discontinued operations for the periods set forth below.
(Amounts in thousands) |  | For the Six Months Ended |
Statements of Cash Flows: (1) |  | June 30, 2020 |  |  | June 30, 2019 |
Cash provided by operating activities | $ | 2,292 |  |  | $ | 9,059 |
Cash used in investing activities |  | - |  |  |  | (645 | )
Additional Cash Flow information: |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 690 |  |  | $ | 4,725 |
Additions to real estate |  |  | - |  |  |  | (645 | )
| (1) | Represents cash flow information of 1899 Pennsylvania Avenue in the six months ended June 30, 2020 and 1899 Pennsylvania Avenue and Liberty Place in the six months ended June 30, 2019. |

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