Gain on Sales of Investment Properties

12 Months Ended

Dec. 31, 2014

Gain on Sales of Properties

Gain on Sales of Properties

14. Gain on Sales of Investment Properties

During 2014, we sold 46 investment properties for $107.2 million, which resulted in a gain of $42.1 million.  Only the results of operations specifically related to the properties classified as held for sale at December 31, 2013 and sold during the year have been reclassified as discontinued operations.

During 2013, we sold 75 investment properties for $134.2 million, which resulted in a gain of $64.7 million.  The results of operations for these properties have been reclassified as discontinued operations for all periods presented.

During 2012, we sold 44 investment properties for $50.6 million, which resulted in a gain of $9.9 million.  The results of operations for these properties have been reclassified as discontinued operations for all periods presented.

Crest sold one property for $820,000 and one property for $597,000 during 2014 and 2013, respectively.  Neither of these sales resulted in a gain. The results of operations for these properties have been reclassified as discontinued operations.  During 2012, Crest did not sell any properties.