XML 81 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6
DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2012
DISCONTINUED OPERATIONS (Tables)  
DISCONTINUED OPERATIONS (Tables)

The following table summarizes revenue and expense information for the properties sold and held for sale (dollars in thousands):

 

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2012

 

 

2011

 

 

2012

 

 

2011

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

     Rental

 

$

766

 

 

$

10,612

 

 

$

2,861

 

 

$

22,532

 

 

 

$

766

 

 

$

10,612

 

 

$

2,861

 

 

$

22,532

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Property operations

 

 

(533

)

 

 

(7,556

)

 

 

(2,354

)

 

 

(15,755

)

     Other income

 

 

1

 

 

 

-

 

 

 

3

 

 

 

-

 

     Interest

 

 

(113

)

 

 

(2,928

)

 

 

(638

)

 

 

(6,373

)

     General and administrative

 

 

(343

)

 

 

(532

)

 

 

(474

)

 

 

(911

)

     Depreciation

 

 

(102

)

 

 

(1,726

)

 

 

(420

)

 

 

(3,711

)

     Provision on impairment of real estate assets

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(881

)

 

 

$

(1,090

)

 

$

(12,742

)

 

$

(3,883

)

 

$

(27,631

)

Net loss from discontinued operations before gains on sale of real estate, taxes, and fees

 

 

(324

)

 

 

(2,130

)

 

 

(1,022

)

 

 

(5,099

)

     Gain on sale of discontinued operations

 

 

4,668

 

 

 

7,679

 

 

 

8,256

 

 

 

11,816

 

     Equity in investee

 

 

47

 

 

 

-

 

 

 

47

 

 

 

-

 

Income from discontinued operations before tax

 

$

4,391

 

 

$

5,549

 

 

$

7,281

 

 

$

6,717

 

     Income tax expense

 

 

(1,537

)

 

 

(1,942

)

 

 

(2,548

)

 

 

(2,351

)

Net income from discontinued operations

 

$

2,854

 

 

$

3,607

 

 

$

4,733

 

 

$

4,366