Dispositions, Assets Held for Sale and Discontinued Operations

3 Months Ended

Jun. 30, 2013

Disclosure Dispositions, Assets Held for Sale and Discontinued Operations [Abstract]

Dispositions, Assets Held for Sale and Discontinued Operations

5. Dispositions, Assets Held for Sale and Discontinued Operations

The following is a summary of our real property disposition activity for the periods presented (in thousands):

		Six Months Ended
		June 30, 2013			June 30, 2012
Real property dispositions:
	Seniors housing triple-net		$	133,024		$	90,404
	Medical facilities			135,784			33,066
	Total dispositions			268,808			123,470
Add: Gain (loss) on sales of real property, net				52,495			33,219
Proceeds from real property sales			$	321,303		$	156,689

At June 30, 2013, $137,790,000 of sales proceeds is on deposit in an Internal Revenue Code Section 1031 exchange escrow account with a qualified intermediary. We have reclassified the income and expenses attributable to all properties sold prior to or held for sale at June 30, 2013 to discontinued operations. Expenses include an allocation of interest expense based on property carrying values and our weighted-average cost of debt. The following illustrates the reclassification impact as a result of classifying properties as discontinued operations for the periods presented (in thousands):

			Three Months Ended				Six Months Ended
			June 30,				June 30,
		2013		2012		2013		2012
Revenues:
	Rental income	$	1,193	$	24,196	$	4,336	$	48,586
Expenses:
	Interest expense		215		5,463		993		10,704
	Property operating expenses		234		474		568		1,367
	Provision for depreciation		369		5,364		762		12,249
Income (loss) from discontinued operations, net		$	375	$	12,895	$	2,013	$	24,266