Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

v2.4.0.8
Discontinued Operations
 6 Months Ended
Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
 
Income from discontinued operations primarily includes revenues and expenses associated with the following:

•
920 Elkridge Landing Road in the Baltimore/Washington Corridor that was sold on June 25, 2013;
•
4230 Forbes Boulevard in the Baltimore/Washington Corridor that was sold on December 11, 2013;
•
15 operating properties in Colorado Springs that were sold on December 12, 2013; and
•
nine operating properties in the Baltimore/Washington Corridor and five operating properties in Colorado Springs for which the title to the properties was transferred to the mortgage lender on December 23, 2013.
 
The table below sets forth the components of discontinued operations reported on our consolidated statements of operations (in thousands):
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Revenue from real estate operations
$
5

 
$
9,543

 
$
24

 
$
19,663

Property operating expenses
(84
)
 
(3,321
)
 
(64
)
 
(6,999
)
Depreciation and amortization
—

 
(1,262
)
 
—

 
(2,504
)
Impairment losses
(26
)
 
(7,195
)
 
(27
)
 
(9,052
)
General, administrative and leasing expenses
—

 
—

 
—

 
(1
)
Interest expense
—

 
(2,267
)
 
—

 
(4,348
)
Loss on sales of real estate
—

 
—

 
(4
)
 
—

Loss on early extinguishment of debt
(93
)
 
—

 
(116
)
 
—

Discontinued operations
$
(198
)
 
$
(4,502
)
 
$
(187
)
 
$
(3,241
)


As of June 30, 2014, we had eight operating properties in the Greater Baltimore region classified as held for sale. The table below sets forth the components of assets held for sale on our consolidated balance sheet (in thousands):
 
 
 
June 30, 2014
Properties, net
 
$
22,219

Deferred rent receivable
 
151

Intangible assets on real estate acquisitions, net
 
164

Deferred leasing costs, net
 
334

Assets held for sale, net
 
$
22,868