Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2011

Discontinued Operations [Abstract]

Assets and liabilities of discontinued operation

	December 31,
(Dollars in thousands)	2011			2010
Balance Sheet data (as of the period ended):
Land	$	8,078		$	7,099
Buildings, improvements and lease intangibles		44,299			35,424
Personal property		458			429
		52,835			42,952
Accumulated depreciation		(24,557	)		(19,447	)
Assets held for sale, net		28,278			23,505
Other assets, net (including receivables)		372			410
Assets of discontinued operations, net		372			410
Assets held for sale and discontinued operations, net	$	28,650		$	23,915
Accounts payable and accrued liabilities	$	404		$	229
Other liabilities		114			194
Liabilities of discontinued operations	$	518		$	423

Income statement of discontinued operation

	Year Ended December 31,
(Dollars in thousands, except per share data)	2011			2010			2009
Statements of Operations data (for the period ended):
Revenues (1)
Master lease rent	$	4,885		$	6,626		$	11,171
Property operating		883			2,734			4,477
Straight-line rent		(141	)		(155	)		(210	)
Other operating		5			15			249
		5,632			9,220			15,687
Expenses (2)
General and administrative		7			15			26
Property operating		2,169			3,271			4,010
Other operating		—			(135	)		—
Bad debt, net		89			22			(18	)
Depreciation		967			2,258			3,693
Amortization		(31	)		(31	)		(31	)
		3,201			5,400			7,680
Other Income (Expense) (3)
Interest expense		—			—			(667	)
Interest and other income, net		104			239			430
		104			239			(237	)
Income from Discontinued Operations		2,535			4,059			7,770
Impairments (4)		(6,697	)		(6,252	)		(22	)
Gain on sales of real estate properties (5)		7,035			8,352			20,136
Income from Discontinued Operations	$	2,873		$	6,159		$	27,884
Income from Discontinued Operations per Common Share - Basic	$	0.04		$	0.10		$	0.48
Income from Discontinued Operations per Common Share - Diluted	$	0.04		$	0.10		$	0.48

(1) Total revenues for the years ended December 31, 2011, 2010 and 2009 included $1.6 million, $4.4 million and $9.6 million, respectively, related to properties sold; and $4.0 million, $4.8 million and $6.1 million, respectively, related to 15 properties held for sale at December 31, 2011.

(2) Total expenses for the years ended December 31, 2011, 2010 and 2009 included $0.7 million, $1.8 million and $3.7 million, respectively, related to properties sold; and $2.5 million, $3.6 million and $4.0 million, respectively, related to 15 properties held for sale at December 31, 2011.

(3) Other income (expense) for the years ended December 31, 2011, 2010, and 2009 included income related to properties sold of $0.1 million, income of $0.2 million and expenses of $0.3 million, respectively. The year ended December 31, 2009 also included income of $0.1 million related to properties held for sale.

(4) Impairments for the year ended December 31, 2011 included $1.7 million related to two properties sold and $5.0 million related to five properties held for sale; December 31, 2010 included $1.0 million related to one property sold and $5.3 million related to four properties held for sale; and December 31, 2009 included $22,000 related to one property sold.

(5) Gain on sales of real estate properties for the years ended December 31, 2011, 2010 and 2009 included gains on the sale of three, nine and five properties, respectively.