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DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2013
DISCONTINUED OPERATIONS (Tables)  
REVENUE AND EXPENSES PROPERTIES SOLD

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,

 

 

 

2013

 

 

2012

 

 

2013

 

 

2012

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

     Rental and other property revenues

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

     Other income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Property operating expense

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

     Mortgage and loan interest expense

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

     Loan cost amortization

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

     Loan fee expense

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

     General and administrative

 

 

-

 

 

 

-

 

 

 

18

 

 

 

9

 

     Depreciation and amortization

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

     Advisory fees

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

     Provision on impairment of real estate assets

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

$

-

 

 

$

-

 

 

$

18

 

 

$

9

 

Loss from discontinued operations before gains on sale of

real estate, taxes, and fees

 

 

-

 

 

 

-

 

 

 

(18

)

 

 

(9

)

     Gain on sale of discontinued operations

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

     Equity in investee

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Loss from discontinued operations

 

$

-

 

 

$

-

 

 

$

(18

)

 

$

(9

)

     Income tax benefit

 

 

-

 

 

 

-

 

 

 

6

 

 

 

3

 

Net loss from discontinued operations

 

$

-

 

 

$

-

 

 

$

(12

)

 

$

(6

)