Discontinued Operations (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2018 (in thousands):

	Nine Months Ended September 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 (1)	(654		)
General and administrative	4,450
Total operating expenses	4,398
Operating income	3,415
Loss on disposition and assets held for sale	(1,785		)
Income before taxes	1,630
Benefit from income taxes	2,095
Income from discontinued operations, net of income taxes	$	3,725

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(1) The negative balance for the nine months ended September 30, 2018 is a result of estimated costs accrued in prior periods that exceeded actual expenses incurred.

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

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