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Discontinued Operations and Disposition of Real Estate and Real Estate Investments
 12 Months Ended
Dec. 31, 2015
Discontinued Operations And Disposal Groups [Abstract]  
Discontinued Operations and Disposition of Real Estate and Real Estate Investments

13.

Discontinued Operations and Disposition of Real Estate and Real Estate Investments

Disposition of Real Estate

During the year ended December 31, 2015, the Company sold 29 properties and additional non-income producing assets.  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 and 39 properties in 2013 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):

 

 

For the Year Ended December 31,

 

 

2014

 

 

2013

 

Revenues

$

39,537

 

 

$

81,241

 

Expenses:

 

 

 

 

 

 

 

Operating expenses

 

11,070

 

 

 

23,204

 

Impairment charges

 

8,877

 

 

 

53,553

 

Interest, net

 

9,947

 

 

 

19,457

 

Depreciation and amortization

 

16,254

 

 

 

27,568

 

 

 

46,148

 

 

 

123,782

 

Loss from discontinued operations

 

(6,611

)

 

 

(42,541

)

Gain on disposition of real estate, net of tax

 

96,009

 

 

 

11,274

 

Income (loss) from discontinued operations

$

89,398

 

 

$

(31,267

)