Dispositions and Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations And Disposal Groups [Abstract]

Schedule of Assets and Liabilities, Results of Operations and Cash Flow from Discontinued Operations

The tables below set forth the details of the assets and liabilities, results of operations and the details of the cash flows related to discontinued operations as of the dates thereof and for the periods set forth below.

(Amounts in thousands)	As of
Balance Sheet: (1)	December 31, 2019
Real estate, net	$	94,251
Deferred rent receivable		4,206
Deferred charges, net		804
Intangible assets, net		5,575
Assets related to discontinued operations	$	104,836

(Amounts in thousands)	For the Year Ended December 31,
Income Statements: (2)	2020			2019			2018
Revenues:
Rental revenue	$	13,967		$	24,969		$	50,157
Other income		276			457			1,133
Total revenues		14,243			25,426			51,290
Expenses:
Operating		5,853			10,134			19,381
Depreciation and amortization		690			8,243			17,357
Total expenses		6,543			18,377			36,738
Other income (expense):
Interest and other income, net		-			-			181
Real estate impairment loss		-			(42,000	)		(46,000	)
Income (loss) before gain or loss on sale of real estate		7,700			(34,951	)		(31,267	)
(Loss) gain on sale of real estate (3)		(12,766	)		1,140			36,845
(Loss) income before income taxes		(5,066	)		(33,811	)		5,578
Income tax expense		(9	)		-			-
(Loss) income from discontinued operations, net	$	(5,075	)	$	(33,811	)	$	5,578

	For the Year Ended December 31,
Statements of Cash Flows: (2)	2020			2019			2018
Cash provided by operating activities	$	5,522		$	15,949		$	25,416
Cash provided by investing activities
Proceeds from sale of real estate (4)	$	89,206		$	150,307		$	349,013
Additions to real estate		-			(1,514	)		(4,003	)
Total cash provided by investing activities	$	89,206		$	148,793		$	345,010
Cash used in financing activities	$	(96,896	)	$	(162,294	)	$	(370,626	)
Additional Cash Flow Information:
Depreciation and amortization	$	690		$	8,243		$	17,357

⁽¹⁾ Represents assets of 1899 Pennsylvania Avenue.

⁽²⁾ Represents revenues, expenses, net income, and cash flow information of 1899 Pennsylvania Avenue in the year ended December 31, 2020, 1899 Pennsylvania Avenue and Liberty Place in the year ended December 31, 2019 and 1899 Pennsylvania Avenue, Liberty Place, 425 Eye Street and 2099 Pennsylvania Avenue in the year ended December 31, 2018.

⁽³⁾ Represents the loss on sale of 1899 Pennsylvania Avenue in 2020, gain on sale of Liberty Place in 2019, and gain on sale of 425 Eye Street and 2099 Pennsylvania Avenue in 2018. 

⁽⁴⁾ Represents the proceeds from the sale of 1899 Pennsylvania Avenue in 2020, Liberty Place in 2019, and 425 Eye Street and 2099 Pennsylvania Avenue in 2018.