Property Transactions (Tables)

12 Months Ended

Dec. 31, 2014

Properties sold that qualify as discontinued operations

The Company sold the following properties in 2014, 2013, and 2012. The results of operations of the properties noted as discontinued operations are included in a separate section discontinued operations, in the statements of operations for all periods presented ($ in thousands):



Property	Property Type	Location	Square Feet	Sales Price		Discontinued Operations
2014
777 Main	Office	Ft. Worth, TX	980,000	$	167,000	No
Lakeshore Park Plaza	Office	Birmingham, AL	197,000	$	25,000	Yes
Mahan Village	Retail	Tallahassee, FL	147,000	$	29,500	No
600 University Park Place	Office	Birmingham, AL	123,000	$	19,700	Yes
2013
Tiffany Springs MarketCenter	Retail	Kansas City, MO	238,000	$	53,500	Yes
Inhibitex	Office	Atlanta, GA	51,000	$	8,300	Yes
2012
The Avenue Forsyth	Retail	Atlanta, GA	524,000	$	119,000	Yes
The Avenue Collierville	Retail	Memphis, TN	511,000	$	55,000	Yes
The Avenue Webb Gin	Retail	Atlanta, GA	322,000	$	59,600	Yes
Galleria 75	Office	Atlanta, GA	111,000	$	9,200	Yes
Cosmopolitan Center	Office	Atlanta, GA	51,000	$	7,000	Yes

Components of Income (Loss) from Discontinued Operations

The following table details the components of income from discontinued operations for the years ended December 31, 2014, 2013 and 2012 (in thousands):



	2014			2013			2012
Rental property revenues	$	2,927		$	10,552		$	33,918
Other revenues	29			40			3,557
Third party management and leasing revenues	—			76			16,364
Third party management and leasing expenses	—			(99		)	(13,678		)
Impairment losses	—			—			(13,791		)
Depreciation and amortization	—			(3,083		)	(13,479		)
Other expenses	(28		)	(25		)	(49		)
Rental property operating expenses	(1,128		)	(4,162		)	(10,935		)
Income from discontinued operations	$	1,800		$	3,299		$	1,907

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, 2014, 2013 and 2012 (in thousands):



	2014			2013			2012
Lakeshore Park Plaza	$	13,025		$	—		$	—
600 University Park Place	6,334			—			—
The Avenue Forsyth	1			(77		)	4,508
Inhibitex	2			2,989			—
Tiffany Springs MarketCenter	(1		)	3,697			—
Third party management and leasing business	(3		)	4,577			7,459
Cosmopolitan Center	—			—			2,064
The Avenue Webb Gin	—			(2		)	3,590
Other	—			305			786
Gain on sale of discontinued operations, net	$	19,358		$	11,489		$	18,407

Fair value of the assets and liabilities acquired



	Northpark Town Center			Fifth Third Center			Post Oak Central			Terminus 200			816 Congress Avenue			Texas Acquisition			2100 Ross Avenue
Tangible assets:
Land and improvements	$	24,577		$	22,863		$	88,406		$	25,040		$	6,817		$	306,563		$	5,987
Building	274,151			163,649			118,470			101,472			86,391			586,150			36,705
Tenant improvements	21,674			16,781			10,877			17,600			3,500			114,220			9,034
Other assets	—			1,014			—			101			—			—			—
Deferred rents receivable	—			—			—			44			—			—			—
Tangible assets	320,402			204,307			217,753			144,257			96,708			1,006,933			51,726
Intangible assets:
Above-market leases	2,846			632			995			1,512			89			4,959			3,267
In-place leases	30,159			17,096			26,968			14,355			8,222			117,630			8,888
Below-market ground leases	—			338			—			—			—			2,958			—
Ground lease purchase option	—			—			—			—			2,403			—			—
Total intangible assets	33,005			18,066			27,963			15,867			10,714			125,547			12,155
Tangible liabilities:
Accounts payable and accrued expenses	—			(1,026		)	—			—			—			—			—
Total tangible liabilities	—			(1,026		)	—			—			—			—			—
Intangible liabilities:
Below-market leases	(8,018		)	(9,374		)	(14,792		)	(9,273		)	(2,820		)	(47,170		)	(436		)
Above-market ground lease	—			—			—			—			(1,981		)	(2,508		)	—
Total intangible liabilities	(8,018		)	(9,374		)	(14,792		)	(9,273		)	(4,801		)	(49,678		)	(436		)

Total net assets acquired	$	345,389		$	211,973		$	230,924		$	150,851		$	102,621		$	1,082,802		$	63,445