PROPERTY TRANSACTIONS

Discontinued Operations

Accounting rules require that the historical operating results of held-for-sale or sold assets which meet certain accounting rules be included in a separate section, discontinued operations, in the statements of operations for all periods presented. If the asset is sold, the related gain or loss on sale is also included in discontinued operations. In addition, assets and liabilities of held for sale properties, as defined, are required to be separately categorized on the balance sheet.

The following properties were held for sale or sold in 2014 or 2013, respectively, and met the criteria for discontinued operations presentation ($ in thousands):



Property	Property Type	Location	Square Feet	Sales Price
2014:
Lakeshore Park Plaza	Office	Birmingham, AL	197,000	Held for sale
600 University Park Place	Office	Birmingham, AL	123,000	$	19,700
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

The components of discontinued operations and the gains and losses on property sales for the three months ended March 31, 2014 and 2013 are as follows (in thousands):



	Three Months Ended March 31,
	2014			2013
Income from discontinued operations:
Rental property revenues	$	1,356		$	3,000
Fee income	—			74
Other income	7			7
Rental property operating expenses	(464		)	(1,194		)
Reimbursed expenses	—			—
General and administrative expenses	(1		)	(52		)
Depreciation and amortization	—			(1,053		)
Other expenses	(6		)	(4		)
	$	892		$	778

Gain on sale of discontinued operations:
600 University	$	6,371		$	—
King Mill	—			119
Other	(6		)	(1		)
	$	6,365		$	118