Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2015

Schedule Of The Components Of Income From Discontinued Operations


	Years ended December 31,
	2015	2014	2013
REVENUES
Rents	$ 38,000	$ 2,698,000	$ 9,963,000
Expense recoveries and other	1,000	918,000	2,754,000
Total revenues	39,000	3,616,000	12,717,000
EXPENSES
Operating, maintenance and management	20,000	783,000	3,655,000
Real estate and other property-related taxes	7,000	555,000	2,632,000
Depreciation and amortization	-	-	1,258,000
Interest	-	631,000	2,455,000
Early extinguishment of debt costs		-	437,000
Total expenses	27,000	1,969,000	10,437,000

Income from operations	12,000	1,647,000	2,280,000

Impairment reversals / (charges)	153,000	47,000	(3,049,000)

Gain on extinguishment of debt obligations	-	1,423,000	10,452,000

Gain on sales	-	7,963,000	-

Total income from discontinued operations	$ 165,000	$ 11,080,000	$ 9,683,000

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.

- 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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