NOTE 4—DISPOSITIONS

2018 Activity

During the three months ended March 31, 2018, we sold six seniors housing communities included in our senior living operations reportable business segment, five triple-net leased properties, two MOBs and one vacant land parcel for aggregate consideration of $170.2 million.

Real Estate Impairment

We recognized impairments of $7.0 million and $5.2 million, respectively, for the three months ended March 31, 2018 and 2017, which are recorded in depreciation and amortization in our Consolidated Statements of Income, and relate primarily to our office operations reportable business segment. Our recorded impairments were primarily the result of a change in our intent to hold the impaired assets. In most cases, we recognize an impairment in the periods in which our change in intent is made.

Assets Held for Sale

The table below summarizes our real estate assets classified as held for sale as of March 31, 2018 and December 31, 2017, including the amounts reported on our Consolidated Balance Sheets.



	March 31, 2018							December 31, 2017
	Number of Properties Held for Sale	Assets Held for Sale			Liabilities Related to Assets Held for Sale			Number of Properties Held for Sale	Assets Held for Sale		Liabilities Related to Assets Held for Sale
	(Dollars in thousands)
Office Operations	3	$	62,806		$	60,140		3	$	65,413	$	60,265
Senior Living Operations ⁽¹⁾	—	(272		)	(117		)	—	—		—
Total	3	$	62,534		$	60,023		3	$	65,413	$	60,265

⁽¹⁾ Balances relate to anticipated post-closing settlements of working capital.

During the three months ended March 31, 2018, five MOBs no longer met the criteria as being classified as held for sale. As a result, we adjusted the carrying amount of these assets by recognizing depreciation expense of $5.7 million and classified these assets within net real estate investments on our Consolidated Balance Sheets for all periods presented.