Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2014

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


	Three months ended June 30,		Six months ended June 30,
	2014	2013	2014	2013
REVENUES
Rents	$ 1,106,000	$ 2,665,000	$ 2,822,000	$ 5,585,000
Expense recoveries and other	210,000	654,000	1,140,000	1,500,000
Total revenues	1,316,000	3,319,000	3,962,000	7,085,000
EXPENSES
Operating, maintenance and management	215,000	864,000	935,000	2,551,000
Real estate and other property-related taxes	120,000	644,000	602,000	1,301,000
Depreciation and amortization	-	311,000	-	632,000
Interest	230,000	631,000	644,000	1,340,000
Early extinguishment of debt costs, net	-	-	(13,000)	437,000
Total expenses	565,000	2,450,000	2,168,000	6,261,000

INCOME FROM OPERATIONS	751,000	869,000	1,794,000	824,000

IMPAIRMENT REVERSALS, NET	183,000	-	119,000	-

GAIN ON EXTINGUISHMENT OF DEBT OBLIGATIONS	1,423,000	1,298,000	1,423,000	1,298,000

GAIN ON SALES	7,963,000	-	7,963,000	-

TOTAL INCOME FROM DISCONTINUED OPERATIONS	$ 10,320,000	$ 2,167,000	$ 11,299,000	$ 2,122,000

Schedule Of Properties Sold


	Percent		Date	Sales		Gain on
Property	Sold	Location	Sold	Price		Sale
Continuing operations:
Fairview Plaza	100%	New Cumberland, PA	5/27/2014	$ 12,450,000		$ 3,810,000

Discontinued operations:
Harbor Square (f/k/a Shore Mall)	100%	Egg Harbor, NJ	2/25/2014	$ 25,000,000		$ -
McCormick Place	100%	Olmstead, OH	5/6/2014	2,679,000	(a)	-
Gahanna Discount Drug Mart Plaza	100%	Columbus, OH	5/27/2014	4,982,000	(a)	-
Townfair Center	100%	Indiana, PA	5/29/2014	22,600,000		1,472,000
Lake Raystown Plaza	100%	Huntingdon, PA	6/25/2014	19,500,000		6,491,000
				$ 74,761,000		$ 7,963,000

(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.

- Definition

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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