Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following is a summary of the financial information for discontinued operations for the three and six months ended June 30, 2018 (in thousands):

	Three Months Ended June 30, 2018		Six Months Ended June 30, 2018
Revenues:
Offering-related fees and reimbursements	$	—	$	1,027
Transaction service fees and reimbursements	—		334
Management fees and reimbursements	—		6,452
Total revenues	—		7,813
Operating expenses:
Cole Capital reallowed fees and commissions	—		602
Transaction costs	—		(654		)
General and administrative	—		4,450
Total operating expenses	—		4,398
Operating income	—		3,415
Gain (loss) on disposition and assets held for sale (1)	224		(1,785		)
Income before taxes	224		1,630
Benefit from income taxes	—		2,095
Income from discontinued operations, net of income taxes	$	224	$	3,725

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(1) The positive balance for the three months ended June 30, 2018 is a result of estimated expenses used to calculate the loss on disposition in prior periods that exceeded actual expenses incurred. The Company recognized a loss on classification as held for sale of $20.0 million during the three months ended December 31, 2017.

The following is a summary of cash flows related to discontinued operations for the six months ended June 30, 2018 (in thousands):

	Six Months Ended June 30, 2018
Cash flows related to discontinued operations:
Cash flows used in operating activities	$	(10,438	)
Cash flows from investing activities	$	122,915