Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following is a summary of the financial information and cash flows for discontinued operations for the three months ended March 31, 2018 and 2017 (in thousands):

	Three Months Ended March 31,
Revenues:	2018			2017
Offering-related fees and reimbursements	$	1,027		$	4,316
Transaction service fees and reimbursements	334			4,006
Management fees and reimbursements	6,452			18,391
Total revenues	$	7,813		$	26,713
Operating expenses:
Cole Capital reallowed fees and commissions	602			2,660
Transaction costs (1)	(654		)	—
General and administrative	4,450			15,917
Amortization of intangible assets	—			4,140
Total operating expenses	4,398			22,717
Operating income	3,415			3,996
Other income (expense), net	—			5
Loss on disposition (2)	(2,009		)	—
Income before taxes	1,406			4,001
Benefit from (provision for) income taxes	2,095			(1,146		)
Income from discontinued operations	$	3,501		$	2,855

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(1) The negative balance for the three months ended March 31, 2018 is a result of estimated costs accrued in prior periods that exceeded actual expenses incurred.

(2) The Company recognized a loss on classification as held for sale of $20.0 million for the year ended December 31, 2017.

	Three Months Ended March 31,
	2018			2017
Cash flows related to discontinued operations:
Cash flows used in operating activities	$	(10,662	)	$	(3,934	)
Cash flows from investing activities	$	123,925		$	—