Real Estate Properties

During the nine months ended September 30, 2015 and 2014, we made improvements, excluding tenant-funded improvements, to our properties totaling $46.7 million and $65.9 million, respectively.

Properties Held For Sale:

We classify all properties that meet the criteria outlined in the Property, Plant and Equipment Topic of the FASB Accounting Standards Codification (Codification) as held for sale on our condensed consolidated balance sheets. As of December 31, 2014, we had no properties classified as held for sale. As of September 30, 2015, we classified the following properties as held for sale (dollars in thousands):



Asset	Date Sold	Segment	Number of Properties	Number of Buildings	Square Footage	Gross Sales Price
Properties
One South Church Avenue	October 2015	CBD	1	1	240,811	$	32,000
775 Ridge Lake Boulevard	October 2015	CBD	1	1	120,678	16,300
One Park Square	October 2015	CBD	1	6	259,737	34,300

Portfolio of Properties
9040 Roswell Road	October 2015	Suburban	1	1	178,941
The Exchange	October 2015	Suburban	1	2	187,632
3920 Arkwright Road	October 2015	Suburban	1	1	196,156
1775 West Oak Commons Court	October 2015	Suburban	1	1	79,854
Georgia portfolio			4	5	642,583	$	48,550
			7	13	1,263,809	$	131,150

Summarized balance sheet information for all properties classified as held for sale is as follows (in thousands):



	September 30, 2015
Real estate properties	$	108,023
Other assets, net	4,127
Properties held for sale	$	112,150

Accounts payable and accrued expenses	$	1,479
Security deposits	430
Liabilities related to properties held for sale	$	1,909

Property Dispositions:

During the nine months ended September 30, 2015, we disposed of the following properties (dollars in thousands):



Asset	Date Disposed	Segment	Number of Properties	Number of Buildings	Square Footage	Gross Sales Price		Gain (Loss) on Sale
Properties
11350 North Meridian Street	January 2015	Suburban	1	1	72,264	$	4,200	$	766
333 Laurel Oak Drive(1)	March 2015	Suburban	—	1	27,164	2,450		251
1921 E. Alton Avenue	March 2015	Suburban	1	1	67,846	14,533		4,850
46 Inverness Center Parkway	April 2015	Suburban	—	—	—	2,000		1,857
225 Water Street(2)	May 2015	CBD	1	1	318,997	—		—
Sorrento Valley Business Park	June 2015	Suburban	1	4	105,003	23,500		11,896
Illinois Center	August 2015	CBD	1	2	2,090,162	376,000		26,929
16th and Race Street	August 2015	CBD	1	1	608,625	43,000		7,922
185 Asylum Street	September 2015	CBD	1	1	868,395	113,250		17,619

Portfolio of properties
7450 Campus Drive	May 2015	Suburban	1	1	77,411
129 Worthington Ridge Road	May 2015	Suburban	1	1	227,500
599 Research Parkway	May 2015	Suburban	1	1	48,249
181 Marsh Hill Road	May 2015	Suburban	1	1	162,036
101 Barnes Road	May 2015	Suburban	1	1	45,755
15 Sterling Drive	May 2015	Suburban	1	1	173,015
35 Thorpe Avenue	May 2015	Suburban	1	1	79,862
50 Barnes Industrial Road North	May 2015	Suburban	1	1	154,255
5-9 Barnes Industrial Road	May 2015	Suburban	1	1	38,006
860 North Main Street	May 2015	Suburban	1	1	31,165
One Barnes Industrial Road South	May 2015	Suburban	1	1	30,170
Village Lane	May 2015	Suburban	1	2	58,185
100 Northfield Drive	May 2015	Suburban	1	1	116,986
905 Meridian Lake Drive	May 2015	Suburban	1	1	74,652
1717 Deerfield Road	May 2015	Suburban	1	1	141,186
1955 West Field Court	May 2015	Suburban	1	1	59,130
5015 S. Water Circle	May 2015	Suburban	1	1	113,524
Adams Place	May 2015	Suburban	1	2	230,259
Cabot Business Park	May 2015	Suburban	1	2	252,755
2300 Crown Colony Drive	May 2015	Suburban	1	1	45,974
Myles Standish Industrial Park	May 2015	Suburban	1	2	74,800
340 Thompson Road	May 2015	Suburban	1	1	25,000
100 South Charles Street	May 2015	CBD	1	1	159,616
6710 Oxon Hill	May 2015	Suburban	1	1	118,336
8800 Queen Avenue South	May 2015	Suburban	1	1	280,822
9800 Sherlard Parkway	May 2015	Suburban	1	1	46,765
Rosedale Corporate Plaza	May 2015	Suburban	1	3	149,116
1000 Shelard Parkway	May 2015	Suburban	1	1	62,499
525 Park Street	May 2015	CBD	1	1	75,636



Asset	Date Disposed	Segment	Number of Properties	Number of Buildings	Square Footage	Gross Sales Price		Gain (Loss) on Sale
1900 Meyer Drury Drive	May 2015	Suburban	1	1	65,225
131-165 West Ninth Street	May 2015	Suburban	1	1	75,517
7-9 Vreeland Road	May 2015	Suburban	1	1	155,891
5 Paragon Drive	May 2015	Suburban	1	1	119,089
1000 Vorhees Drive and 400 Laurel Oak Drive(1)	May 2015	Suburban	1	2	125,415
1601 Veterans Highway	May 2015	Suburban	1	1	63,608
Two Corporate Center Drive	May 2015	Suburban	1	1	291,230
11311 Cornell Park Drive	May 2015	Suburban	1	1	93,413
5300 Kings Island Drive	May 2015	Suburban	1	1	159,421
3 Crown Point Court	May 2015	Suburban	1	1	73,987
515 Pennsylvania Avenue	May 2015	Suburban	1	1	82,000
443 Gulph Road	May 2015	Suburban	1	1	21,000
4350 Northern Pike	May 2015	Suburban	1	1	503,885
Thunderbolt Place	May 2015	Suburban	1	2	100,505
6160 Kempsville Circle	May 2015	Suburban	1	1	129,565
448 Viking Drive	May 2015	Suburban	1	1	75,374
Portfolio of small office and industrial assets			45	53	5,287,790	$	376,000	$	(8,075	)

2501 20th Place South	June 2015	CBD	1	1	125,722
420 20th Street North	June 2015	CBD	1	1	514,893
Inverness Center	June 2015	Suburban	1	4	475,882
701 Poydras Street	June 2015	CBD	1	1	1,256,971
300 North Greene Street	June 2015	CBD	1	1	324,305
1320 Main Street	June 2015	CBD	1	1	334,075
AL, LA, NC, SC office portfolio			6	9	3,031,848	$	417,450	$	41,596

12655 Olive Boulevard	June 2015	Suburban	1	1	98,588
1285 Fern Ridge Parkway	June 2015	Suburban	1	1	66,510
St. Louis portfolio			2	2	165,098	$	14,300	$	(2,349	)

310-314 Invermay Road(3)	April 2015	Suburban	1	1	47,480
253-293 George Town Road(3)	April 2015	Suburban	1	1	143,914
7 Modal Crescent	June 2015	Suburban	1	1	164,160
71-93 Whiteside Road	June 2015	Suburban	1	1	303,488
9-13 Titanium Court	June 2015	Suburban	1	1	69,664
16 Rodborough Road	June 2015	Suburban	1	1	90,525
22 Rodborough Road	June 2015	Suburban	1	1	43,427
127-161 Cherry Lane	June 2015	Suburban	1	1	278,570
310-320 Pitt Street	June 2015	CBD	1	1	313,865
44-46 Mandarin Street	June 2015	Suburban	1	1	226,718
19 Leadership Way	June 2015	Suburban	1	1	76,714
Australia portfolio(4)			11	11	1,758,525	$	232,955	$	(47,851	)



Asset	Date Disposed	Segment	Number of Properties	Number of Buildings	Square Footage	Gross Sales Price		Gain (Loss) on Sale
Widewaters Parkway	August 2015	Suburban	1	8	514,241
5062 Brittonfield Parkway	August 2015	Suburban	1	1	40,162
Woodcliff Drive	August 2015	Suburban	1	6	516,760
Interstate Place	August 2015	Suburban	1	2	61,399
1000 Pittsford - Victor Road	August 2015	Suburban	1	1	73,358
1200 Pittsford - Victor Road	August 2015	Suburban	1	1	18,900
Corporate Crossing	August 2015	Suburban	1	5	216,126
Canal View Boulevard	August 2015	Suburban	1	3	118,375
14 Classic Street	August 2015	Suburban	1	1	37,084
110 W Fayette Street	August 2015	CBD	1	1	304,906
251 Salina Meadows Parkway	August 2015	Suburban	1	1	65,617
Upstate New York portfolio			11	30	1,966,928	$	104,625	$	(12,458	)
			82	117	16,368,645	$	1,724,263	$	42,953


(1)	This property contains three buildings. We sold one building in March 2015 and two buildings in May 2015.


(2)	Title to this property was transferred to the lender pursuant to a consensual foreclosure in full satisfaction of the mortgage debt with a principal balance of $40.1 million, resulting in a gain on early extinguishment of debt of $17.3 million for the nine months ended September 30, 2015. See Note 8 for additional information.


(3)	These properties were sold in a separate transaction to a different buyer than other Australian properties.


(4)	The loss on sale includes a $63.2 million cumulative foreign currency translation adjustment reclassified from cumulative other comprehensive loss due to the disposition of the Australian portfolio.

On June 27, 2014, we sold one CBD property (two buildings) and 13 suburban properties (41 buildings) with a combined 2,784,098 square feet for an aggregate sales price of $215.9 million, excluding mortgage debt repayments and closing costs. In conjunction with this transaction, we recognized a loss on asset impairment of $2.4 million and a loss on early extinguishment of debt of $3.3 million.

Results of operations for properties sold prior to December 31, 2014, are included in discontinued operations in our condensed consolidated statements of operations. Summarized income statement information for properties included in discontinued operations is as follows (in thousands):



	Three Months Ended			Nine Months Ended
	September 30, 2014
Rental income	$	(16	)	$	14,220
Tenant reimbursements and other income	407			1,730
Total revenues	391			15,950

Operating expenses	261			7,115
General and administrative	6			9
Total expenses	267			7,124
Operating income	124			8,826
Interest and other income	2			2
Interest expense	(31		)	(608		)
Income from discontinued operations	$	95		$	8,220