Assets classified as held for sale

3 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Assets classified as held for sale

Assets classified as held for sale

In 2016, we decided to monetize our real estate investments located in Asia in order to invest capital into our highly leased value-creation pipeline. During 2016 and 2017, we completed the sale of all real estate investments in India and China, except for one operating property discussed below. As a result of the completion of sales in our India submarket, we also liquidated legal entities through which we owned our real estate investments in our India submarket and reclassified the remaining cumulative foreign currency translation loss of $2.4 million related to the real estate investments in India into earnings during the three months ended March 31, 2017, upon completion of the liquidations.

As of March 31, 2018, we have one remaining real estate investment in Asia consisting of one operating property in China aggregating 334,144 RSF currently classified as held for sale. As of March 31, 2018, cumulative unrealized foreign currency translation gains related to this property aggregated $2.1 million, which will be reclassified from accumulated other comprehensive income to net income upon completion of the sale of this remaining investment.

The following is a summary of net assets as of March 31, 2018, and December 31, 2017, for our remaining real estate investment in Asia that was classified as held for sale (in thousands):

	March 31, 2018			December 31, 2017
Total assets	$	32,642		$	31,578
Total liabilities	(1,946		)	(1,809		)
Total accumulated other comprehensive income	(2,140		)	(1,021		)
Net assets classified as held for sale – Asia	$	28,556		$	28,748