Subsequent Events

12 Months Ended

Dec. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

During 2010, we sold seven office properties in Winston Salem, NC for gross proceeds of $12.9 million. In connection with this disposition, we received cash of $4.5 million and provided seller financing of $8.4 million (recorded at fair value of $8.4 million in mortgages and notes receivable) and committed to lend up to an additional $1.7 million for tenant improvements and lease commissions, of which $0.8 million was funded as of December 31, 2013. We accounted for this disposition using the installment method, whereby the $0.4 million gain on disposition of property was deferred until the seller financing is repaid. On January 8, 2014, the $9.2 million outstanding amount was fully repaid. Accordingly, the related $0.4 million gain will be recorded in the first quarter of 2014.