Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2013

Discontinued Operations and Disposal Groups [Abstract]

The following is a summary of the Company's dispositions since January 1, 2011:



				Sales Price				Gain/ (Loss)
Sales Date	Property	Property Type	Location	Gross		Net		Gain/ (Loss)
2013 Activity:
August 2013	Georgia Square & Georgia Square Plaza, Panama City Mall & The Shoppes at Panama City, RiverGate Mall and Village at RiverGate ⁽¹⁾	Mall & Associated Center	Athens, GA Panama City, FL Nashville, TN	$	176,000	$	171,977	$	(19	)
March 2013	1500 Sunday Drive	Office Building	Raleigh, NC	8,300		7,862		(549		)
March 2013	Peninsula I & II	Office Building	Newport News, VA	5,250		5,121		598
January 2013	Lake Point & SunTrust ⁽²⁾	Office Building	Greensboro, NC	30,875		30,490		823
December 2008	706 & 708 Green Valley Road⁽³⁾	Office Building	Greensboro, NC					281
	Various ⁽⁴⁾							10
				$	220,425	$	215,450	$	1,144
2012 Activity:
December 2012	Willowbrook Plaza⁽⁵⁾	Community Center	Houston, TX	$	24,450	$	24,171	$	—
October 2012	Towne Mall⁽⁶⁾	Mall	Franklin, OH	950		892		(3		)
October 2012	Hickory Hollow Mall ⁽⁷⁾	Mall	Antioch, TN	1,000		966		(6		)
July 2012	Massard Crossing	Community Center	Fort Smith, AR	7,803		7,432		98
March 2012	Settlers Ridge - Phase II ⁽⁸⁾	Community Center	Robinson Township, PA	19,144		18,951		883
January 2012	Oak Hollow Square ⁽⁹⁾	Community Center	High Point, NC	14,247		13,796		(1		)
	Various ⁽⁴⁾							(33		)
				$	67,594	$	66,208	$	938
2011 Activity:
November 2011	Westridge Square⁽¹⁰⁾	Community Center	Greensboro, NC	$	26,125	25,768		$	(160	)
February 2011	Oak Hollow Mall ⁽¹¹⁾	Mall	High Point, NC	9,000		8,847		6
December 2010	Settler's Ridge - Phase I	Community Center	Robinson Township, PA					67
October 2010	Pemberton Square	Mall	Vicksburg, MS					39
	Various ⁽⁴⁾							47
				$	35,125	$	34,615	$	(1	)


(1)	A loss on impairment of $5,234 was recorded in the third quarter of 2013 to write down the book value of these six Properties sold in a portfolio sale to the net sales price.


(2)	Classified as held for sale as of December 31, 2012.


(3)	Recognition of gain that was deferred in December 2008 upon repayment of the notes receivable for a portion of the sales price.


(4)	Reflects subsequent true-ups for settlement of estimated expenses based on actual amounts for sales that occurred in prior periods.


(5)	A loss on impairment of $17,743 was recorded in the third quarter of 2012 to write down the book value of this Property to its then estimated fair value.


(6)	A loss on impairment of $419 was recorded in the third quarter of 2012 to write down the book value of this Property to expected sales price.


(7)	A loss on impairment of $8,047 was recorded in the third quarter of 2012 to write down the book value of this Property to expected sales price.


(8)	A loss on impairment of $4,457 was recorded in the second quarter of 2011 to write down the book value of this Property to its then estimated fair value.


(9)	A loss on impairment of $255 was recorded in the first quarter of 2012 related to the true-up of certain estimated amounts to actual amounts. Additionally, the Company wrote down the depreciated book value of this Property to the estimated sales price and recorded a loss on impairment of $729 in the fourth quarter of 2011.


(10)	Proceeds from the sale were used to reduce the outstanding borrowings on the unsecured term facility used to acquire the Starmount Properties.

(11)

Net proceeds from the sale were used to retire the outstanding principal balance and accrued interest of $40,281 on the non-recourse loan secured by the Property in accordance with the lender’s agreement to modify the outstanding principal balance and accrued interest to equal the net sales price for the Property and, as a result, the Company recorded a gain on extinguishment of debt of $31,434 in the first quarter of 2011. The Company also recorded a loss on impairment in the first quarter of 2011 of $2,746 to write down the book value of the Property to the net sales price. In the second quarter of 2010, the Company recorded a loss on impairment of $25,435 related to the Property to write down its depreciated book value to its then estimated fair value.

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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