Property Transactions (Tables)

12 Months Ended

Dec. 31, 2013

Properties sold that qualify as discontinued operations

The following properties which were held for sale or sold in 2013, 2012, and 2011 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	$	53,500
Lakeshore Park Plaza	Office	Birmingham, AL	197,000	Held for sale
600 University Park Place	Office	Birmingham, AL	123,000	Held for sale
Inhibitex	Office	Atlanta, GA	51,000	$	8,300
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
2011:
King Mill Distribution Park — Building 3	Industrial	Atlanta, GA	796,000	$	28,300
Lakeside Ranch Business Park — Building 20	Industrial	Dallas, TX	749,000	$	28,400
Jefferson Mill Business Park — Building A	Industrial	Atlanta, GA	459,000	$	22,000
One Georgia Center	Office	Atlanta, GA	376,000	$	48,600

Components of Income (Loss) from Discontinued Operations

The following table details the components of income (loss) from discontinued operations for the years ended December 31, 2013, 2012 and 2011 (in thousands):



	2013			2012			2011
Rental property revenues	$	10,552		$	33,918		$	51,985
Third party management and leasing revenues	76			16,364			19,359
Other revenues	40			3,557			209
Rental property operating expenses	(4,162		)	(10,935		)	(19,575		)
Third party management and leasing expenses	(99		)	(13,678		)	(16,584		)
Interest expense	—			—			(1,107		)
Impairment losses	—			(13,791		)	(10,945		)
Depreciation and amortization	(3,083		)	(13,479		)	(23,395		)
Loss on extinguishment of debt	—			—			(74		)
Other expenses	(25		)	(49		)	(62		)
Income (loss) from discontinued operations	$	3,299		$	1,907		$	(189	)

Gain (loss) on sale of investment properties in discontinued operations

Gains (losses) related on sales of discontinued operations are as follows for the years ended December 31, 2013, 2012 and 2011 (in thousands):



	2013			2012			2011
Third party management and leasing business	4,577			7,459			—
Tiffany Springs MarketCenter	3,697			—			—
Inhibitex	2,989			—			—
King Mill Distribution Park — Building 3	275			307			4,977
Lakeside Ranch Business Park — Building 20	25			(59		)	1,121
Cosmopolitan Center	—			2,064			—
Galleria 75	—			569			—
One Georgia Center	—			(104		)	2,805
Jefferson Mill Business Park — Building A	5			—			(394		)
The Avenue Webb Gin	(2		)	3,590			—
The Avenue Forsyth	(77		)	4,508			—
Other	—			73			10
Gain on sale of discontinued operations, net	$	11,489		$	18,407		$	8,519

Fair value of the assets and liabilities acquired



	Post Oak Central			Terminus 200			816 Congress Avenue			Texas Acquisition			2100 Ross Avenue			Promenade
Land and improvements	$	88,406		$	25,040		$	6,817		$	306,563		$	5,987		$	13,439
Building	118,470			101,472			86,391			586,150			36,705			94,190
Tenant improvements	10,877			17,600			3,500			114,220			9,034			8,600
Other assets	—			101			—			—			—			—
Deferred rents receivable	—			44			—			—			—			—
Tangible assets	217,753			144,257			96,708			1,006,933			51,726			116,229
Intangible assets:
Above-market leases	995			1,512			89			4,959			3,267			3,991
In-place leases	26,968			14,355			8,222			117,630			8,888			16,172
Below-market ground leases	—			—			—			2,958			—			—
Ground lease purchase option	—			—			2,403			—			—			—
Total intangible assets	27,963			15,867			10,714			125,547			12,155			20,163
Intangible liabilities:
Below-market leases	(14,792		)	(9,273		)	(2,820		)	(47,170		)	(436		)	(1,659		)
Above-market ground lease	—			—			(1,981		)	(2,508		)	—			—
Total intangible liabilities	(14,792		)	(9,273		)	(4,801		)	(49,678		)	(436		)	(1,659		)

Total net assets acquired	$	230,924		$	150,851		$	102,621		$	1,082,802		$	63,445		$	134,733