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Discontinued Operations and Disposition of Real Estate and Real Estate Investments (Tables)
12 Months Ended
Dec. 31, 2011
Discontinued Operations and Disposition of Real Estate and Real Estate Investments [Abstract]  
Components of condensed balance sheet related to assets held for sale

         
    December 31, 2011  

Land

  $ 1,089  

Building

    1,178  

Fixtures and tenant improvements

    1,000  
   

 

 

 
      3,267  

Less: Accumulated depreciation

    (977
   

 

 

 

     Total real estate held for sale

  $ 2,290  
   

 

 

 
Operating results relating to assets sold or designated as held for sale

                         
    For the Year Ended December 31,  
    2011     2010     2009  

Revenues

  $ 27,798     $ 52,027     $ 87,323  
   

 

 

   

 

 

   

 

 

 

Operating expenses

    10,174       22,112       39,785  

Impairment charges

    24,029       87,045       141,973  

Interest, net

    7,500       20,989       33,266  

Debt extinguishment costs, net

    7,191       409       439  

Depreciation and amortization

    7,677       17,457       29,744  
   

 

 

   

 

 

   

 

 

 
      56,571       148,012       245,207  
   

 

 

   

 

 

   

 

 

 

Loss from discontinued operations

    (28,773     (95,985     (157,884

Gain on deconsolidation of interests

    4,716       5,221        

Gain (loss) on disposition of real estate, net of tax

    40,163       5,775       (24,027
   

 

 

   

 

 

   

 

 

 

Income (loss) from discontinued operations

  $ 16,106     $ (84,989   $ (181,911
   

 

 

   

 

 

   

 

 

 
Net gains on disposition of real estate and real estate investments

                         
    For the Year Ended December 31  
        2011             2010             2009      

Land sales (A)

  $ (0.4   $ 1.0     $ 4.8  

Previously deferred gains and other gains and losses on dispositions (B)

    7.5       0.3       4.3  
   

 

 

   

 

 

   

 

 

 
    $ 7.1     $ 1.3     $ 9.1  
   

 

 

   

 

 

   

 

 

 

 

(A) These dispositions did not meet the criteria for discontinued operations, as the land did not have any significant operations prior to disposition.

 

(B) These gains are a result of partial asset sales that did not meet the criteria for discontinued operations and assets that were contributed to joint ventures in prior years.