Gain on Sales of Real Estate

9 Months Ended

Sep. 30, 2014

Gain on Sales of Real Estate

Gain on Sales of Real Estate

13.   Gain on Sales of Real Estate

During the third quarter of 2014, we sold 11 properties for $33.8 million, which resulted in a gain of $11.0 million. During the first nine months of 2014, we sold 28 properties for $53.6 million, which resulted in a gain of $16.8 million. Only the results of operations specifically related to the properties classified as held for sale at December 31, 2013 and sold during the first nine months of 2014 have been reclassified as discontinued operations.

In comparison, during the third quarter of 2013, Realty Income sold 19 properties for $22.4 million, which resulted in a gain of $6.2 million. During the first nine months of 2013, we sold 53 properties for $106.1 million which resulted in a gain of $50.5 million. The results of operations for the dispositions during 2013 have been reclassified as discontinued operations.

During the first nine months of 2014, Crest sold one property for $820,000, which resulted in no gain.  The results of operations for this property have been reclassified as discontinued operations.  During the first nine months of 2013, Crest did not sell any properties.