Discontinued operations relates to properties (Tables)

12 Months Ended

Dec. 31, 2012

Discontinued operations relates to properties

Discontinued operations relates to properties

The following table summarizes revenue and expense information for these properties sold and held for sale (dollars in thousands):

	For the Year Ended December 31,
	2012			2011			2010
Revenue
Rental	$	5,916		$	34,869		$	61,930
		5,916			34,869			61,930
Expenses
Property operations		(3,930	)		(23,081	)		(40,440	)
Other income		-			-			4,067
Mortgage and loan Interest		(1,449	)		(10,627	)		(21,420	)
General and administrative		(1,406	)		(2,084	)		(693	)
Depreciation		(948	)		(5,553	)		(10,072	)
Provision for asset impairment		-			(5,655	)		(9,723	)
	$	(7,733	)	$	(47,000	)	$	(78,281	)
Net loss from discontinued operations before gains on sale of real estate, taxes, and fees		(1,817	)		(12,131	)		(16,351	)
Gain on sale of discontinued operations		8,885			56,907			19,306
Income from discontinued operations before tax		7,068			44,776			2,955
Tax expense		(2,474	)		(15,672	)		(1,034	)
Income from discontinued operations	$	4,594		$	29,104		$	1,921