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Summarizes revenue and expense information (Tables)
 9 Months Ended
Sep. 30, 2012
Summarizes revenue and expense information  
Summarizes revenue and expense information

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 Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2012

 

 

2011

 

 

2012

 

 

2011

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

     Rental

 

$

(203

)

 

$

6,663

 

 

$

2,658

 

 

$

29,195

 

 

 

$

(203

)

 

$

6,663

 

 

$

2,658

 

 

$

29,195

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Property operations

 

 

(4

)

 

 

(4,368

)

 

 

(2,358

)

 

 

(20,124

)

     Other income

 

 

-

 

 

 

-

 

 

 

3

 

 

 

1

 

     Interest

 

 

-

 

 

 

(1,432

)

 

 

(638

)

 

 

(7,805

)

     General and administrative

 

 

(367

)

 

 

(414

)

 

 

(841

)

 

 

(1,325

)

     Depreciation

 

 

-

 

 

 

(661

)

 

 

(420

)

 

 

(4,371

)

     Provision on impairment of real estate assets

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(883

)

 

 

$

(371

)

 

$

(6,875

)

 

$

(4,254

)

 

$

(34,507

)

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

 

 

(574

)

 

 

(212

)

 

 

(1,596

)

 

 

(5,312

)

     Gain on sale of discontinued operations

 

 

585

 

 

 

8,256

 

 

 

8,840

 

 

 

20,073

 

     Earnings from unconsolidated subsidiaries and investees

 

 

(47

)

 

 

-

 

 

 

-

 

 

 

-

 

Income (loss)  from discontinued operations before tax

 

$

(36

)

 

$

8,044

 

 

$

7,244

 

 

$

14,761

 

     Income tax benefit (expense)

 

 

13

 

 

 

(2,815

)

 

 

(2,535

)

 

 

(5,166

)

Net income (loss) from discontinued operations

 

$

(23

)

 

$

5,229

 

 

$

4,709

 

 

$

9,595