Dispositions of Real Estate and Discontinued Operations

9 Months Ended

Sep. 30, 2012

Dispositions of Real Estate and Discontinued Operations

Dispositions of Real Estate and Discontinued Operations

(5)Dispositions of Real Estate and Discontinued Operations

During the nine months ended September 30, 2012, the Company sold a medical office building for $7 million.

At September 30, 2012, properties classified as held for sale included two senior housing facilities with an aggregate carrying value of $91.2 million. At September 30, 2011, properties classified as held for sale included five senior housing facilities and a medical office building, with a combined aggregate carrying value of $102.6 million.

The following table summarizes operating income from discontinued operations (dollars in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012			2011
Rental and related revenues	$	2,844	$	3,443	$	8,816		$	10,326
Depreciation and amortization expenses	1,453		1,884		7,300			4,286
Operating expenses	4		10		26			36
Other expense, net	403		740		1,906			2,208
Income (loss)	$	984	$	809	$	(416	)	$	3,796
Gain on sales of real estate, net of income taxes	$	—	$	—	$	2,856		$	—
Number of properties included in discontinued operations	2		6		3			6