Dispositions of Real Estate and Discontinued Operations

12 Months Ended

Dec. 31, 2012

Dispositions of Real Estate and Discontinued Operations

Dispositions of Real Estate and Discontinued Operations

(5)   Dispositions of Real Estate and Discontinued Operations

• Dispositions of Real Estate and Land

        During the year ended December 31, 2012, the Company sold the following: (i) two senior housing facilities for $111 million, (ii) a skilled nursing facility for $15 million, (iii) a medical office building for $7 million and (iv) a parcel of land in the life science segment for $18 million. During the year ended December 31, 2011, the Company sold three senior housing facilities for $19 million.

• Results from Discontinued Operations

        The following table summarizes operating income from discontinued operations and gain on sales of real estate included in discontinued operations (dollars in thousands):

	Year Ended December 31,
	2012		2011		2010
Rental and related revenues	$	13,025	$	14,877	$	19,293
Depreciation and amortization expenses		8,267		7,473		6,513
Operating expenses		22		22		263
Other expense, net		2,232		3,333		3,393
Income before gain on sales of real estate	$	2,504	$	4,049	$	9,124
Gain on sales of real estate	$	31,454	$	3,107	$	19,925
Number of properties held-for-sale		—		4		7
Number of properties sold		4		3		14
Number of properties included in discontinued operations		4		7		21