Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2014

Schedule Of The Components Of Income From Discontinued Operations


	Years ended December 31,
	2014	2013	2012
REVENUES
Rents	$ 2,698,000	$ 9,963,000	$ 20,608,000
Expense recoveries and other	918,000	2,754,000	5,261,000
Total revenues	3,616,000	12,717,000	25,869,000
EXPENSES
Operating, maintenance and management	783,000	3,655,000	7,475,000
Real estate and other property-related taxes	555,000	2,632,000	4,184,000
Depreciation and amortization	-	1,258,000	1,385,000
Interest	631,000	2,455,000	7,299,000
Early extinguishment of debt costs	-	437,000	-
Total expenses	1,969,000	10,437,000	20,343,000

INCOME FROM OPERATIONS	1,647,000	2,280,000	5,526,000

IMPAIRMENT REVERSALS/(CHARGES), NET	47,000	(3,049,000)	(284,000)

GAIN ON EXTINGUISHMENT OF DEBT OBLIGATIONS	1,423,000	10,452,000	-

GAIN ON SALES	7,963,000	-	4,679,000

TOTAL INCOME FROM DISCONTINUED OPERATIONS	$ 11,080,000	$ 9,683,000	$ 9,921,000

Schedule Of Properties Sold, Classified As Discontinued Operations, 2014 Transactions


		Date	Sales		Gain on
Property	Location	Sold	Price		Sale
Harbor Square (f/k/a Shore Mall)	Egg Harbor, NJ	2/25/2014	$ 25,000,000		$ -
McCormick Place	Olmstead, OH	5/6/2014	2,679,000	(a)	-
Gahanna Discount Drug Mart Plaza	Columbus, OH	5/27/2014	4,982,000	(a)	-
Townfair Center	Indiana, PA	5/29/2014	22,600,000		1,472,000
Lake Raystown Plaza	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.

Schedule Of Properties Sold, Classified As Discontinued Operations, 2013 Transactions


		Date	Sales		Gain on
Property	Location	Sold	Price		Sale
East Chestnut	Lancaster, PA	1/2/2013	$ 3,100,000		$ -
Columbia Mall	Bloomsburg, PA	4/17/2013	2,775,000		-
Heritage Crossing	Limerick, PA	5/9/2013	9,400,000		-
Westlake Discount Drug Mart Plaza	Westlake, OH	6/5/2013	2,240,000		-
Dunmore Shopping Center	Dunmore, PA	11/8/2013	4,000,000		-
Roosevelt II	Philadelphia, PA	11/14/2013	13,878,000	(a)	-
Oakhurst Plaza	Harrisburg, PA	12/11/2013	11,000,000		-
			$ 46,393,000		$ -

(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.

Schedule Of Properties Sold, Classified As Discontinued Operations, 2012 Transactions


		Date	Sales	Gain on
Property	Location	Sold	Price	Sale
Hilliard Discount Drug Mart Plaza	Hilliard, OH	2/7/2012	$ 1,434,000	$ -
First Merit Bank at Akron	Akron, OH	2/23/2012	633,000	-
Grove City Discount Drug Mart Plaza	Grove City, OH	3/12/2012	1,925,000	-
CVS at Naugatuck	Naugatuck, CT	3/20/2012	3,350,000	457,000
CVS at Bradford	Bradford, PA	3/30/2012	967,000	-
CVS at Celina	Celina, OH	3/30/2012	1,449,000	-
CVS at Erie	Erie, PA	3/30/2012	1,278,000	-
CVS at Portage Trail	Akron, OH	3/30/2012	1,061,000	-
Rite Aid at Massillon	Massillon, OH	3/30/2012	1,492,000	-
Kingston Plaza	Kingston, NY	4/12/2012	1,182,000	293,000
Stadium Plaza	East Lansing, MI	5/3/2012	5,400,000	-
Homburg Joint Venture (seven properties)	Various	10/12/2012	23,642,000	3,929,000
The Point at Carlisle	Carlisle, PA	10/15/2012	7,350,000	-
			$ 51,163,000	$ 4,679,000

- 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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