Property Transactions (Tables)

6 Months Ended

Jun. 30, 2013

Property Transactions and Information [Abstract]

Schedule of Properties Held for Sale [Table Text Block]

The following properties which were held-for-sale in 2013 or sold in 2012 met the criteria for discontinued operations presentation ($ in thousands):

Property	Property Type	Location	Square Feet	Sales Price
2013:
Tiffany Springs MarketCenter	Retail	Kansas City, MO	238,000	Held-for-sale
Inhibitex	Office	Atlanta, GA	51,000	Held-for-sale
2012:
The Avenue Forsyth	Retail	Atlanta, GA	524,000	$	119,000
The Avenue Collierville	Retail	Memphis, TN	511,000	55,000
The Avenue Webb Gin	Retail	Atlanta, GA	322,000	59,600
Galleria 75	Office	Atlanta, GA	111,000	9,200
Cosmopolitan Center	Office	Atlanta, GA	51,000	7,000
Inhibitex	Office	Atlanta, GA	51,000	Held-for-sale

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The components of discontinued operations and the gains and losses on property sales for the three and six months ended June 30, 2013 and 2012 are as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Income (loss) from discontinued operations:
Rental property revenues	$	1,311		$	7,753		$	2,687		$	16,946
Fee income	3			6,029			77			10,740
Other income	—			13			—			205
Rental property operating expenses	(474		)	(2,663		)	(1,046		)	(5,318		)
Reimbursed expenses	—			(2,354		)	—			(4,656		)
General and administrative expenses	(27		)	(2,254		)	(79		)	(4,253		)
Depreciation and amortization	(524		)	(2,967		)	(1,033		)	(7,210		)
Impairment losses	—			—			—			(12,233		)
Other expenses	(9		)	(14		)	(13		)	(32		)
Income (loss) from discontinued operations	$	280		$	3,543		$	593		$	(5,811	)
Gain on sale of discontinued operations:
King Mill	$	89		$	88		$	208		$	175
Galleria 75	—			547			—			546
The Avenue Collierville	—			86			—			86
Lakeside	—			(51		)	—			(51		)
Other	(3		)	4			(27		)	4
Gain on sale of discontinued operations	$	86		$	674		$	181		$	760

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the preliminary allocations of the estimated fair values of the assets and liabilities of 816 Congress Avenue (in thousands):

Tangible assets:
Land and improvements	$	6,817
Building	86,391
Tenant improvements	3,500
Tangible assets	96,708
Intangible assets:
Above-market leases	89
In-place leases	8,222
Ground lease purchase option	2,403
Total intangible assets	10,714
Intangible Liabilities:
Below-market leases	(2,820		)
Above-market ground lease	(1,981		)
Total intangible liabilities	(4,801		)
Total net assets acquired	$	102,621

The following tables summarize preliminary allocations of the estimated fair values of the assets and liabilities of Terminus 200 and Post Oak Central acquired in this series of transactions (in thousands):

	Post Oak Central			Terminus 200
Tangible assets:
Land and improvements	$	88,406		$	25,040
Building	118,470			101,472
Tenant improvements	10,877			17,600
Other assets	—			101
Deferred rents receivable	—			44
Tangible assets	217,753			144,257
Intangible assets:
Above-market leases	995			1,512
In-place leases	26,968			14,355
Total intangible assets	27,963			15,867
Intangible Liabilities:
Below-market leases	(14,792		)	(9,273		)
Total net assets acquired	$	230,924		$	150,851

Business Acquisition, Pro Forma Information [Table Text Block]

The following supplemental pro forma information is presented for the three and six months ended June 30, 2013 and 2012, respectively. The pro forma information is based upon the Company's historical consolidated statements of operations, adjusted as if the Post Oak Central and Terminus transactions discussed above had occurred at the beginning of each of the periods presented. The supplemental pro forma information is not necessarily indicative of future results or of actual results that would have been achieved had the transactions been consummated at the beginning of each period.

	Three Months Ended June 30,					Six Months Ended June 30,
	2013			2012		2013		2012
	(in thousands, except per share amounts)
Revenues	$	44,158		$	34,845	$	85,263	$	70,572
Income (loss) from continuing operations	453			6,632		57,618		5,163
Net income (loss)	819			10,849		58,415		113
Net income (loss) available to common stockholders	(5,579		)	7,020		48,283		(5,474		)
Per share information:
Basic	$	(0.05	)	$	0.07	$	0.43	$	(0.05	)
Diluted	$	(0.05	)	$	0.07	$	0.43	$	(0.05	)