Discontinued Operations and Assets Held for Sale

9 Months Ended

Sep. 30, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Assets Held for Sale

Discontinued Operations and Assets Held for Sale

The following table illustrates the number of properties in discontinued operations:

	Sold in 2012	Sold in 2011	Total
Office	9	93	102
Industrial	11	7	18
Retail	1	1	2
	21	101	122

We allocate interest expense to discontinued operations and have included such interest expense in computing income from discontinued operations. Interest expense allocable to discontinued operations includes interest on any secured debt for properties included in discontinued operations and an allocable share of our consolidated unsecured interest expense for unencumbered properties. The allocation of unsecured interest expense to discontinued operations was based upon the gross book value of the unencumbered real estate assets included in discontinued operations as it related to the total gross book value of our unencumbered real estate assets.

The following table illustrates the operations of the buildings reflected in discontinued operations for the three and nine months ended September 30, 2012 and 2011, respectively (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Revenues	$	143		$	50,315		$	2,987		$	151,373
Operating expenses	(140		)	(22,912		)	(1,826		)	(70,599		)
Depreciation and amortization	(22		)	(16,267		)	(1,202		)	(50,386		)
Operating income (loss)	(19		)	11,136			(41		)	30,388
Interest expense	(95		)	(12,658		)	(1,144		)	(39,611		)
Loss before gain on sales	(114		)	(1,522		)	(1,185		)	(9,223		)
Gain on sale of depreciable properties	1,608			2,088			11,179			16,405
Income from discontinued operations	$	1,494		$	566		$	9,994		$	7,182

Dividends or distributions on preferred shares or Preferred Units and adjustments for the redemption or repurchase of preferred shares or Preferred Units are allocated entirely to continuing operations for both the General Partner and the Partnership. While a portion of the income or loss attributable to noncontrolling interests is allocable to discontinued operations for the General Partner, the income (loss) from discontinued operations for all periods presented in the Partnership's Consolidated Statements of Operations and Comprehensive Income is entirely attributable to the common unitholders.

The following table illustrates the allocation of the income (loss) of the General Partner attributable to common shareholders between continuing operations and discontinued operations, reflecting the above-noted allocation of income or loss attributable to noncontrolling interests between continuing and discontinued operations, for the three and nine months ended September 30, 2012 and 2011, respectively (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Loss from continuing operations attributable to common shareholders	$	(29,700	)	$	(32,626	)	$	(102,913	)	$	(20,541	)
Income from discontinued operations attributable to common shareholders	1,470			550			9,811			6,992
Net loss attributable to common shareholders	$	(28,230	)	$	(32,076	)	$	(93,102	)	$	(13,549	)