Gain on Sales of Real Estate

3 Months Ended

Mar. 31, 2015

Gain on Sales of Properties

Gain on Sales of Properties

11.Gain on Sales of Real Estate

During the first three months of 2015, we sold nine investment properties for $22.3 million, which resulted in a gain of $7.2 million.  The results of operations for these properties are presented within continuing operations.

During the first three months of 2014, Realty Income sold 11 investment properties for $12.7 million, which resulted in a gain of $3.9 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 three months of 2014 have been reclassified as discontinued operations, which was $2.6 million.

During the first three months of 2015, Crest Net Lease, Inc., or Crest, did not sell any properties.  During the first three months of 2014, Crest sold one property for $820,000, which did not result in a gain. The results of operations for this property were reclassified as discontinued operations.