Real Estate Properties

3 Months Ended

Mar. 31, 2016

During the three months ended March 31, 2016 and 2015, we made improvements, excluding tenant-funded improvements, to our properties totaling $31.9 million and $10.9 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, 2015, we had no properties classified as held for sale. As of March 31, 2016, we classified the following properties as held for sale (dollars in thousands):



Asset	Date Sold	Number of Properties	Number of Buildings	Square Footage	Gross Sales Price
1525 Locust Street	April 2016	1	1	98,009	$	17,700
633 Ahua Street	April 2016	1	1	93,141	29,000
		2	2	191,150	$	46,700

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



	March 31, 2016
Real estate properties	$	19,568
Rents receivable, net of allowance for doubtful accounts of $159	21
Other assets, net	758
Properties held for sale	$	20,347

Rent collected in advance	$	10
Security deposits	159
Liabilities related to properties held for sale	$	169

Property Dispositions:

During the three months ended March 31, 2016, we sold the following properties (dollars in thousands):



Asset	Date Disposed	Number of Properties	Number of Buildings	Square Footage	Gross Sales Price		Gain on Sale
Executive Park	February 2016	1	9	427,443	$	50,865	$	16,532
3330 N Washington Boulevard	March 2016	1	1	55,719	11,250		5,457
111 East Kilbourn Avenue	March 2016	1	1	373,669	60,500		14,677
		3	11	856,831	$	122,615	$	36,666

During the year ended December 31, 2015, we disposed of 91 properties (135 buildings) and one land parcel with a combined 18.9 million square feet for an aggregate gross sales price of $2.0 billion, excluding closing costs.