Gain on Sales of Real Estate

12 Months Ended

Dec. 31, 2016

Gain on Sales of Real Estate

Gain on Sales of Real Estate

13.        Gain on Sales of Real Estate

During 2016, we sold 77 properties for $90.5 million, which resulted in a gain of $22.0 million.

During 2015, we sold 38 properties for $65.8 million, which resulted in a gain of $22.2 million.

These property sales in 2016 and 2015 do not represent a strategic shift that will have a major effect on our operations and financial results, and therefore do not require presentation as discontinued operations.

During 2014, we sold 47 properties for $108.1 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 were reclassified as discontinued operations.

Additionally, during 2016 we sold our former corporate headquarters building for $8.6 million.