XML 96 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Discontinued Operations
 9 Months Ended
Sep. 30, 2013
Discontinued Operations And Disposal Groups [Abstract]  
Discontinued Operations

14. DISCONTINUED OPERATIONS

The Company sold 28 properties during the nine-month period ended September 30, 2013, and had one property held for sale at September 30, 2013. In addition, the Company sold 29 properties in 2012. These asset sales are included in discontinued operations for the three- and nine-month periods ended September 30, 2013 and 2012. The balance sheet related to the asset held for sale and the operating results related to assets sold or designated as held for sale as of September 30, 2013, are as follows (in thousands):

 

     September 30,
2013		  

Land

    $ 1,682  

Buildings

      7,441  

Fixtures and tenant improvements

      245  
  

 

 

  
     9,368  

Less: Accumulated depreciation

      (1,999 ) 
  

 

 

  

Total asset held for sale

    $ 7,369  
  

 

 

  

 

     Three-Month Periods
Ended September 30,		     Nine-Month Periods
Ended September 30,		  
     2013      2012     2013     2012  

Revenues

    $ 2,169      $ 7,786     $ 11,956     $ 27,164  
  

 

 

     

 

 

    

 

 

    

 

 

  

Operating expenses

      561        2,490       3,608       9,512  

Impairment charges

      —        5,698       12,661       61,165  

Interest, net

      412        1,547       2,609       5,957  

Depreciation and amortization

      454        1,691       2,941       7,322  
  

 

 

     

 

 

    

 

 

    

 

 

  
     1,427        11,426       21,819       83,956  
  

 

 

     

 

 

    

 

 

    

 

 

  

Income (loss) from discontinued operations

      742        (3,640 )      (9,863 )      (56,792 ) 

Gain (loss) on disposition of real estate, net of tax

      8,701        (176 )      7,240       3,121  
  

 

 

     

 

 

    

 

 

    

 

 

  

Income (loss) from discontinued operations

    $ 9,443      $ (3,816 )    $ (2,623 )    $ (53,671 )