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Disposition of Real Estate and Discontinued Operations
 6 Months Ended
Jun. 30, 2015
Discontinued Operations And Disposal Groups [Abstract]  
Disposition of Real Estate and Discontinued Operations

12.

Disposition of Real Estate and Discontinued Operations

 

Disposition of Real Estate

 

During the six months ended June 30, 2015, the Company sold 13 properties and three parcels of land for total proceeds of $161.3 million.  These sales have not been classified as discontinued operations in the financial statements, as these sales do not represent a strategic shift in the Company’s business plan (Note 1).  

 

Discontinued Operations

The Company sold 35 properties in 2014 that are included in discontinued operations.  The following table provides a summary of revenues and expenses from properties included in discontinued operations prior to the newly-adopted guidance for reporting discontinued operations (Note 1) (in thousands):  

 

 

Three Months

 

 

Six Months

 

 

Ended June 30, 2014

 

Revenues

$

11,513

 

 

$

25,583

 

Expenses:

 

 

 

 

 

 

 

Operating expenses

 

2,962

 

 

 

7,011

 

Impairment charges

 

—

 

 

 

8,512

 

Interest, net

 

2,993

 

 

 

6,507

 

Depreciation and amortization

 

4,700

 

 

 

10,378

 

 

 

10,655

 

 

 

32,408

 

Income (loss) from discontinued operations

 

858

 

 

 

(6,825

)

Gain on disposition of real estate, net of tax

 

6,487

 

 

 

17,182

 

Income from discontinued operations

$

7,345

 

 

$

10,357