|
13. Discontinued Operations
Income from discontinued operations primarily includes revenues and expenses associated with the following:
· 11101 McCormick Road property in the Greater Baltimore region that was sold on February 1, 2010;
· 431 and 437 Ridge Road properties in Central New Jersey (included in the Other region) that were sold on September 8, 2010;
· 1344 and 1348 Ashton Road properties and 1350 Dorsey Road property in the Baltimore/Washington Corridor that were sold on May 24, 2011; and
· 17 operating properties in the Greater Baltimore region that were classified as held for sale as of June 30, 2011.
The table below sets forth the components of discontinued operations reported on our consolidated statements of operations (in thousands):
|
|
|
For the Three Months
|
|
For the Six Months
|
|
|
|
|
Ended June 30,
|
|
Ended June 30,
|
|
|
|
|
2011
|
|
2010
|
|
2011
|
|
2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue from real estate operations
|
|
$
|
2,263
|
|
$
|
3,262
|
|
$
|
4,546
|
|
$
|
6,627
|
|
|
Expenses from real estate operations:
|
|
|
|
|
|
|
|
|
|
|
Property operating expenses
|
|
733
|
|
884
|
|
1,928
|
|
2,234
|
|
|
Depreciation and amortization
|
|
609
|
|
828
|
|
2,239
|
|
1,620
|
|
|
Impairment loss
|
|
6,315
|
|
|
|
6,315
|
|
|
|
|
Expenses from real estate operations
|
|
7,657
|
|
1,712
|
|
10,482
|
|
3,854
|
|
|
Operating income from real estate operations
|
|
(5,394
|
)
|
1,550
|
|
(5,936
|
)
|
2,773
|
|
|
Interest expense
|
|
(223
|
)
|
(345
|
)
|
(512
|
)
|
(556
|
)
|
|
Gain on sales of real estate
|
|
150
|
|
|
|
150
|
|
297
|
|
|
Discontinued operations
|
|
$
|
(5,467
|
)
|
$
|
1,205
|
|
$
|
(6,298
|
)
|
$
|
2,514
|
|