Discontinued Operations

3 Months Ended

Mar. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

11. Discontinued Operations

The Company has presented separately as discontinued operations in all periods the results of operations for all consolidated assets disposed of and all properties held for sale, if any, for properties sold in 2013 and prior years. The amounts included in discontinued operations for the quarters ended March 31, 2015 and 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the quarters ended March 31, 2015 and 2014 met the new criteria for reporting discontinued operations. See Note 2 for further discussion.

The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets for properties sold in 2013 and prior years during each of the quarters ended March 31, 2015 and 2014 (amounts in thousands).

	Quarter Ended March 31,
	2015			2014
REVENUES
Rental income	$	161		$	1,023
Total revenues	161			1,023
EXPENSES (1)
Property and maintenance	(67		)	48
Real estate taxes and insurance	52			13
General and administrative	6			5
Total expenses	(9		)	66
Discontinued operating income	170			957
Interest and other income	49			35
Income and other tax (expense) benefit	(15		)	(11		)
Discontinued operations	204			981
Net gain on sales of discontinued operations	—			71
Discontinued operations, net	$	204		$	1,052

(1) Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership.