| Discontinued Operations and Assets Held for Sale |
Discontinued Operations and Assets Held for Sale
Income from discontinued operations primarily includes revenues and expenses associated with the following:
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five properties in White Marsh, Maryland (in the Greater Baltimore region) that were sold on January 30, 2012;
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1101 Sentry Gateway in San Antonio that was sold on January 31, 2012; |
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222 and 224 Schilling Circle in Greater Baltimore that were sold on February 10, 2012; |
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15 and 45 West Gude Drive in Suburban Maryland that were sold on May 2, 2012; |
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11800 Tech Road in Suburban Maryland that was sold on June 14, 2012; |
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400 Professional Drive in Suburban Maryland for which the title to the property was transferred to the mortgage lender on July 2, 2012; |
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23 operating properties in the Baltimore/Washington Corridor and Greater Baltimore regions that were sold on July 24, 2012; and
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16 operating properties in Colorado Springs and an operating property in Suburban Maryland classified as held for sale at March 31, 2013.
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The table below sets forth the components of discontinued operations reported on our consolidated statements of operations (in thousands):
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For the Three Months Ended March 31, |
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2013 |
|
2012 |
Revenue from real estate operations |
$ |
5,342 |
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$ |
14,643 |
|
Property operating expenses |
(1,491 |
) |
|
(5,293 |
) |
Depreciation and amortization |
— |
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|
(3,253 |
) |
Impairment losses |
— |
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|
(11,423 |
) |
General, administrative and leasing expenses |
(1 |
) |
|
— |
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Business development and land carry costs |
— |
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|
(18 |
) |
Interest expense |
(64 |
) |
|
(1,244 |
) |
Gain on sales of real estate |
— |
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|
4,138 |
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Discontinued operations |
$ |
3,786 |
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|
$ |
(2,450 |
) |
The table below sets forth the components of assets held for sale on our consolidated balance sheets (in thousands):
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March 31, 2013 |
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December 31, 2012 |
Properties, net |
$ |
130,292 |
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$ |
128,740 |
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Deferred rent receivable |
4,456 |
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|
4,068 |
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Intangible assets on real estate acquisitions, net |
4,401 |
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4,409 |
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Deferred leasing costs, net |
3,166 |
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|
2,923 |
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Lease incentives |
89 |
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|
89 |
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Assets held for sale |
$ |
142,404 |
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$ |
140,229 |
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