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Investment in Real Estate (Tables)
6 Months Ended
Jun. 30, 2014
Real Estate [Abstract]  
Schedule of Business Acquisitions, by Acquisition
During the first quarter of 2014, we acquired the following: Merrill Place and 3402 Pico Blvd. The results of operations for each of these acquisitions are included in our consolidated statements of operations from the date of acquisition. The following table represents our purchase price accounting for each of these acquisitions:

 
Merrill Place
 
3402 Pico Blvd
 
 
Date of Acquisition
February 12, 2014
 
February 28, 2014
 
Total
Consideration paid
 
 
 
 
 
Cash consideration
$
57,034

 
$
18,546

 
$
75,580

Total consideration
$
57,034

 
$
18,546

 
$
75,580

Allocation of consideration paid
 
 
 
 
 
Investment in real estate, net
$
57,508

 
$
18,500

 
$
76,008

Above-market leases
173

 

 
173

Deferred leasing costs and lease intangibles, net
3,163

 

 
3,163

Below-market leases
(3,315
)
 

 
(3,315
)
Other (liabilities) asset assumed, net
(495
)
 
46

 
(449
)
Total consideration paid
$
57,034

 
$
18,546

 
$
75,580


During 2013, we acquired the following: 3401 Exposition, Pinnacle II, the Seattle portfolio and 1861 Bundy. The results of operations for each of these acquisitions are included in our consolidated statements of operations from the date of acquisition. The following table represents our purchase price accounting for each of these acquisitions:

 
3401 Exposition
 
Pinnacle II
 
Seattle Portfolio
 
1861 Bundy
 
 
Date of Acquisition
May 22, 2013
 
June 14, 2013
 
July 31, 2013
 
September 26, 2013
 
Total
Consideration paid
 
 
 
 
 
 
 
 
 
Cash consideration
$
8,489

 
$
1,505

 
$
368,389

 
$
11,500

 
$
389,883

Notes receivable
4,000

 

 

 

 
4,000

Debt assumed
13,233

 
89,066

 

 

 
102,299

Non-controlling interest in consolidated real estate entity

 
45,704

 

 

 
45,704

Total consideration
$
25,722

 
$
136,275

 
$
368,389

 
$
11,500

 
$
541,886

Allocation of consideration paid
 
 
 
 
 
 
 
 
 
Investment in real estate, net
$
25,439

 
$
134,289

 
$
367,094

 
$
11,500

 
$
538,322

Deferred leasing costs and lease intangibles, net

 
12,637

 
21,619

 

 
34,256

Fair market unfavorable debt value

 
(5,820
)
 

 

 
(5,820
)
Below-market leases

 
(7,783
)
 
(14,666
)
 

 
(22,449
)
Other (liabilities) assets assumed, net
283

 
2,952

 
(5,658
)
 

 
(2,423
)
Total consideration paid
$
25,722

 
$
136,275

 
$
368,389

 
$
11,500

 
$
541,886

Business Acquisition, Pro Forma Information
The table below shows the pro forma financial information for the six months ended June 30, 2014 and 2013 as if these properties had been acquired as of January 1, 2013.
 
 
Six Months Ended June 30,
 
2014
 
2013
Total revenues
$
119,894

 
$
97,685

Net income (loss)
$
11,386

 
$
(2,892
)
Schedule of Discontinued Operations
The following table sets forth the discontinued operations for the three and six months ended June 30, 2014 and 2013 for City Plaza:

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Total office revenues
$

 
$
1,965

 

 
3,962

Office operating expenses
(60
)
 
(766
)
 
(126
)
 
(1,555
)
Depreciation and amortization

 
(316
)
 

 
(789
)
Loss from discontinued operations
$
(60
)
 
$
883

 
(126
)
 
1,618