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Properties Held For Sale and Related Transactions (Tables)

12 Months Ended

Dec. 31, 2013

Properties Held For Sale and Related Transactions [Abstract]

Schedule Of The Components Of Income (Loss) From Discontinued Operations

		Years ended December 31,
		2013		2012		2011
REVENUES
Rents		$          10,517,000		$          20,608,000		$          31,515,000
Expense recoveries and other		2,973,000		5,261,000		7,956,000
Total revenues		13,490,000		25,869,000		39,471,000
EXPENSES
Operating, maintenance and management		3,889,000		7,476,000		9,866,000
Real estate and other property-related taxes		2,761,000		4,205,000		5,849,000
Depreciation and amortization		1,258,000		1,385,000		6,744,000
Interest		2,455,000		7,299,000		9,813,000
Early extinguishment of debt costs		437,000		-		-
Total expenses		10,800,000		20,365,000		32,272,000
INCOME FROM OPERATIONS		2,690,000		5,504,000		7,199,000
IMPAIRMENT CHARGES, NET		(3,977,000)		(4,000)		(88,458,000)
GAIN ON EXTINGUISHMENT OF DEBT OBLIGATIONS		10,452,000		-		-
GAIN ON SALES		-		4,679,000		884,000
TOTAL INCOME (LOSS) FROM DISCONTINUED OPERATIONS		$            9,165,000		$          10,179,000		$        (80,375,000)

Schedule Of Impairment Charges

	Years ended December 31,
	2013		2012		2011
Impairment (reversals)/charges - Ohio property loan
(2013 and 2012), and land parcels (2012 and 2011) (a)	$        (1,100,000)		$          5,779,000		$          7,148,000
Loss on exit from unconsolidated joint venture (b)	$                         -		$                         -		$          7,961,000
Impairment charges, net - properties held
for sale/conveyance (c)	$          3,977,000		$                 4,000		$        88,458,000
(a) Included in operating income in the accompanying statements of operations.
(b) Represents the write-off of an investment in an unconsolidated joint venture, and is included in non-operating income and expense in the accompanying statements of operations.
(c) Included in discontinued operations in the accompanying statements of operations.

Schedule Of Transactions Related To Properties Held For Sale/Conveyance

During 2013, the Company completed the following transactions related to properties “held for sale/conveyance”:

		Percent				Date		Sales		Gain on
Property		Sold		Location		Sold		Price		Sale
Discontinued operations:
East Chestnut		100%		Lancaster, PA		1/2/2013		$    3,100,000		$               -
Columbia Mall		100%		Bloomsburg, PA		4/17/2013		2,775,000		-
Heritage Crossing		100%		Limerick, PA		5/9/2013		9,400,000		-
Westlake Discount Drug Mart Plaza		100%		Westlake, OH		6/5/2013		2,240,000		-
Dunmore Shopping Center		100%		Dunmore, PA		11/8/2013		4,000,000		-
Roosevelt II		100%		Philadelphia, PA		11/14/2013		13,878,000	(a)	-
Oakhurst Plaza		100%		Harrisburg, PA		12/11/2013		11,000,000		-
								$  46,393,000		$               -
Continuing operations:
Huntingdon Plaza land parcel		100%		Huntingdon, PA		3/29/2013		$       390,000		$   266,000
Upland Square land parcel		100%		Pottstown, PA		11/8/2013		1,700,000		215,000
Oregon Pike (land parcel)		100%		Lancaster, PA		12/23/2013		1,451,000		-
								$    3,541,000		$   481,000
(a) Lender accepted a deed-in-lieu of foreclosure on the property. Sales price represents mortgage loan payable, accrued interest and other expenses forgiven upon title transfer.

During 2012, the Company completed the following transactions related to properties “held for sale/conveyance”:

		Percent				Date		Sales		Gain on
Property		Sold		Location		Sold		Price		Sale
Discontinued operations:
Hilliard Discount Drug Mart Plaza		100%		Hilliard, OH		2/7/2012		$      1,434,000		$                -
First Merit Bank at Akron		100%		Akron, OH		2/23/2012		633,000		-
Grove City Discount Drug Mart Plaza		100%		Grove City, OH		3/12/2012		1,925,000		-
CVS at Naugatuck		50%		Naugatuck, CT		3/20/2012		3,350,000		457,000
CVS at Bradford		100%		Bradford, PA		3/30/2012		967,000		-
CVS at Celina		100%		Celina, OH		3/30/2012		1,449,000		-
CVS at Erie		100%		Erie, PA		3/30/2012		1,278,000		-
CVS at Portage Trail		100%		Akron, OH		3/30/2012		1,061,000		-
Rite Aid at Massillon		100%		Massillon, OH		3/30/2012		1,492,000		-
Kingston Plaza		100%		Kingston, NY		4/12/2012		1,182,000		293,000
Stadium Plaza		100%		East Lansing, MI		5/3/2012		5,400,000		-
Homburg Joint Venture (seven properties)		20%		Various		10/12/2012		23,642,000		3,929,000
The Point at Carlisle		100%		Carlisle, PA		10/15/2012		7,350,000		-
								$    51,163,000		$ 4,679,000
Continuing operations:
Blue Mountain Commons (land parcel)		100%		Harrisburg. PA		6/19/2012		$         102,000		$      79,000
Oregon Pike (land parcel)		100%		Lancaster, PA		6/28/2012		1,100,000		-
Trindle Springs (land parcel)		100%		Mechanicsburg, PA		7/20/2012		800,000		-
Aston (land parcel)		100%		Aston, PA		7/27/2012		1,365,000		402,000
Wyoming (land parcel)		100%		Wyoming, MI		11/16/2012		1,000,000		516,000
								$      4,367,000		$    997,000

During 2011, the Company completed the following transactions related to properties “held for sale/conveyance”

		Percent				Date		Sales		Gain on
Property		Sold		Location		Sold		Price		Sale
Discontinued operations:
Bergstrasse		100%		Ephrata, PA		2/14/2011		$      1,900,000		$        33,000
Ohio Properties (two)		100%		OH		3/30/2011		4,032,000		-
Fairfield Plaza		100%		Fairfield, CT		4/15/2011		10,840,000		470,000
CVS at Kingston		100%		Kingston, NY		11/14/2011		5,250,000		185,000
CVS at Kinderhook		100%		Kinderhook, NY		12/8/2011		4,000,000		196,000
Shoppes at Salem Run		100%		Fredericksburg, VA		12/12/2011		1,675,000		-
Virginia Center Commons		100%		Glen Allen, VA		12/21/2011		3,550,000		-
Ohio Properties (nine)		100%		OH		12/28/2011		25,257,000		-
								56,504,000		884,000

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Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss).

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Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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