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Dispositions and Assets Held for Sale
9 Months Ended
Sep. 30, 2014
Property, Plant and Equipment [Abstract]  
Dispositions and Assets Held for Sale
Dispositions and Assets Held for Sale
During the three months ended September 30, 2014, we had two dispositions of portfolios of medical office buildings for an aggregate gross sales price of $42.0 million resulting in a gain of $11.8 million.  In addition, we entered into a purchase and sale agreement as the seller and received a non-refundable deposit from the purchaser for the sale of an additional portfolio of medical office buildings for gross proceeds of $40.9 million.  This portfolio, which includes $18.9 million of real estate investments and $3.1 million of other intangibles, was reclassified to assets held for sale during the third quarter of 2014.  Our sale of these medical office buildings closed in October 2014 resulting in a gain of approximately $16 million
During 2013, we had one property within our portfolio that met the criteria for classification as held for sale. Accordingly, we presented the assets and liabilities separately and included the results of operations within discontinued operations for all periods presented. Additionally, we ceased recording depreciation and amortization following the held for sale designation. During the quarter ended March 31, 2014, we determined that it was appropriate to reclassify the property out of held for sale in our condensed consolidated balance sheets and to include the results of operations within the results of operations of our operating properties in our condensed consolidated statements of operations for all periods presented as the property no longer met the criteria for classification as held for sale. We measured the property to be reclassified at the lower of its carrying value before it was classified as held for sale (adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used) or its fair value at the date of the subsequent decision not to sell. As such, during the quarter ended March 31, 2014, we recorded $0.8 million of depreciation and amortization expense which represents the depreciation and amortization on the property that was not recorded when it was classified as held for sale.