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DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2015

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

	For the Three Months Ended March 31,
	2015			2014
Revenues:
Rental and other property revenues	$	15		$	2,571
		15			2,571
Expenses:
Property operating expenses		(374	)		1,317
Depreciation		-			330
General and administrative		95			174
Total operating expenses		(279	)		1,821

Other income (expense):
Other income		-			42
Mortgage and loan interest		(1	)		(664	)
Deferred borrowing costs amortization		-			(282	)
Litigation settlement		-			(45	)
Total other expenses		(1	)		(949	)

Gain (loss) from discontinued operations before gain on sale of real estate and tax		293			(199	)
Gain on sale of real estate from discontinued operations		-			6,053
Income tax expense		(103	)		(2,049	)
Income from discontinued operations	$	190		$	3,805