Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Summary of Assets by Business Segment

The following table summarizes the Trust’s assets by business segment for the periods ended June 30, 2013 and December 31, 2012 (in thousands):

	June 30, 2013		December 31, 2012
Assets
Operating properties	$	603,822	$	562,822
Loan assets		143,655		239,534
REIT securities		10,360		19,694
Corporate
Cash and cash equivalents		186,132		97,682
Restricted cash		2,802		—
Accounts receivable and prepaids		670		336
Deferred financing costs		2,869		3,095
Total Assets	$	950,310	$	923,163
Capital Expenditures
Operating Properties	$	2,552	$	12,417

Summary of Revenues from Operating Properties, Loan Assets and REIT Securities and Expenses Incurred by Each Segment

The following table presents a summary of revenues from operating properties, loan assets and REIT securities and expenses incurred by each segment for the three and six months ended June 30, 2013 and 2012 (in thousands):

	For the Three Months Ended						For the Six Months Ended
	June 30, 2013			June 30, 2012			June 30, 2013			June 30, 2012
Operating Properties
Rents and reimbursements	$	15,593		$	11,841		$	30,101		$	23,042
Operating expenses		(4,892	)		(3,355	)		(9,650	)		(7,530	)
Real estate taxes		(1,659	)		(884	)		(2,542	)		(2,003	)
Equity in earnings of preferred equity investment in Fenway-Wateridge		185			—			387			—
Equity in loss of Sealy Northwest Atlanta		(87	)		(108	)		(233	)		(164	)
Equity in loss of Sealy Newmarket		—			(745	)		—			(1,467	)
Equity in income (loss) of Marc Realty investment		69			3			9			(344	)
Equity in income (loss) of WRT-Elad		167			(28	)		610			515
Equity in income of Vintage		2,696			595			4,617			934
Equity in income of 701 Seventh Avenue		623			—			1,320			—
Equity in income of Fenway-Wateridge		47			—			83			—
Equity in income of Mentor		16			6			33			6
Equity in income of F-II Co-invest		—			232			—			232
Operating properties operating income		12,758			7,557			24,735			13,221
Depreciation and amortization expense		(4,950	)		(4,008	)		(9,840	)		(7,273	)
Interest expense		(4,234	)		(3,034	)		(7,859	)		(6,132	)
Settlement expense		(134	)		—			(134	)		—
Operating properties net income (loss)		3,440			515			6,902			(184	)
Loan Assets
Interest income		3,447			2,746			7,901			5,145
Discount accretion		761			2,726			1,477			5,559
Unrealized gain (loss) on loan securities carried at fair value		215			(88	)		215			76
Equity in income of ROIC Riverside		—			234			—			468
Equity in loss of ROIC Lakeside Eagle		(2	)		(4	)		(15	)		(16	)
Equity in income of Concord Debt Holdings		36			55			71			351
Equity in income of CDH CDO		—			140			150			534
Equity in income of Concord Debt Holdings (1)		15			28			29			28
Equity in income of CDH CDO (1)		427			478			907			478
Equity in income of WRT-Stamford		224			227			445			316
Equity in loss of SoCal Office Loan Portfolio		(2	)		(293	)		(2	)		(638	)
Equity in (loss) income of RE CDO Management		(9	)		17			3,761			28
Equity in income (loss) of 10 Metrotech		304			(19	)		608			(19	)
Loan assets operating income		5,416			6,247			15,547			12,310
General and administrative expense		(21	)		(20	)		(35	)		(25	)
Interest expense		(647	)		(334	)		(1,227	)		(668	)
Loan assets net income		4,748			5,893			14,285			11,617
REIT Securities
Interest and dividends		100			306			250			592
Gain (loss) on sale of securities carried at fair value		—			15			(102	)		41
Unrealized (loss) gain on securities carried at fair value		(1,860	)		(791	)		(142	)		4,141
REIT securities net (loss) income		(1,760	)		(470	)		6			4,774
Net income from segments before corporate income (expense)		6,428			5,938			21,193			16,207
Reconciliations to GAAP Net Income:
Corporate Income (Expense)
Interest income		115			90			185			191
Interest expense		(1,827	)		(80	)		(3,654	)		(372	)
General and administrative		(1,077	)		(762	)		(1,910	)		(1,640	)
Related party fees		(2,291	)		(2,298	)		(4,557	)		(4,325	)
Transaction costs		(46	)		(184	)		(52	)		(305	)
State and local taxes		(125	)		(142	)		(142	)		(147	)
Income from continuing operations before non-controlling interest		1,177			2,562			11,063			9,609
Non-controlling interest		629			473			1,424			1,374
Income from continuing operations		1,806			3,035			12,487			10,983
Income from discontinued operations		6,568			323			9,633			628
Net Income Attributable to Winthrop Realty Trust	$	8,374		$	3,358		$	22,120		$	11,611

(1) Represents the interest acquired from Lexington Realty Trust on May 1, 2012.