Real Estate Properties (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of acquisitions related to real estate properties

Date	Location		Purchase Price⁽¹⁾		Land		Buildings and Improvements		Acquired Real Estate Leases		Acquired Real Estate Lease Obligations		Assumed Mortgage Debt		Premium on Assumed Debt		Other Assumed Liabilities

CWH (excluding SIR) Acquisitions through December 31, 2012:
January 2012	Chicago, IL⁽²⁾	1,009,940	$	150,600	$	32,457	$	122,433	$	20,932	$	5,710	$	147,872	$	12,458	$	7,421
March 2012	Hartford, CT	868,395		101,500		15,930		60,312		25,542		284		—		—		—
May 2012	Austin, TX	170,052		49,000		7,900		38,533		4,733		30		29,012		2,136		—
September 2012	Columbia, SC	334,075		60,000		1,660		53,059		11,375		3,932		40,328		2,162		—
October 2012	Indianapolis, IN⁽³⁾	1,058,112		193,102		9,671		158,084		37,086		481		116,000		7,386		4,138

		3,440,574		554,202		67,618		432,421		99,668		10,437		333,212		24,142		11,559

SIR Acquisitions through December 31, 2012:
June 2012	Provo, UT⁽⁴⁾	405,699		85,500		6,700		78,800		—		—		—		—		—
June 2012	Englewood, CO	140,162		18,900		3,230		11,801		3,869		—		—		—		421
July 2012	Windsor, CT	268,328		27,175		4,250		16,695		6,230		—		—		—		—
July 2012	Topeka, KS	143,934		19,400		1,300		15,918		2,182		—		—		—		1,698
August 2012	Huntsville, AL⁽⁴⁾⁽⁵⁾	1,370,974		72,782		5,628		67,154		—		—		—		—		—
September 2012	Carlsbad, CA⁽⁵⁾	95,000		24,700		3,381		17,918		4,885		—		18,500		1,484		—
September 2012	Chelmsford, MA⁽⁵⁾	110,882		12,200		2,009		6,727		3,911		—		7,500		447		—
November 2012	Sunnyvale, CA⁽³⁾	96,415		28,050		11,552		12,461		4,037		—		—		—		—
November 2012	Oahu, HI⁽³⁾	49,452		6,300		5,888		315		97		—		—		—		—
November 2012	Sterling, VA⁽³⁾	337,228		85,600		9,874		62,238		14,615		1,127		—		—		—
December 2012	Ann Arbor, MI⁽³⁾	82,003		16,906		2,877		9,081		4,948		—		—		—		663
December 2012	Columbia, MD⁽³⁾	119,912		40,500		3,700		24,592		12,208		—		—		—		—

		3,219,989		438,013		60,389		323,700		56,982		1,127		26,000		1,931		2,782

		6,660,563	$	992,215	$	128,007	$	756,121	$	156,650	$	11,564	$	359,212	$	26,073	$	14,341

⁽¹⁾: Purchase price includes the assumption of mortgage debt, if any, and excludes closing costs.
⁽²⁾: During the fourth quarter of 2012, we finalized the purchase price allocation for this acquisition and adjusted the preliminary purchase price allocation by recording an increase to buildings and improvements and other assumed liabilities of $7,054.

⁽³⁾: The allocation of purchase price is based on preliminary estimates and may change upon completion of (i) third party appraisals and (ii) our analysis of acquired in place leases and building valuations.
⁽⁴⁾: These properties were acquired and simultaneously leased back to the seller in a sale/leaseback transaction. SIR accounted for these transactions as an acquisition of assets.
⁽⁵⁾: During the fourth quarter of 2012, SIR finalized the purchase price allocations for these acquisitions and adjusted the preliminary purchase price allocations as follows: (i) reallocated $1,598 from buildings and improvements to land related to its Huntsville, AL acquisition, (ii) reallocated $69 from land and $1,882 from buildings and improvements to acquired real estate leases related to its Carlsbad, CA acquisition, and (iii) reallocated $31 from land, $1,805 from buildings and improvements and $217 from assumed real estate lease obligations to acquired real estate leases related to its Chelmsford, MA acquisition.

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

Balance Sheets:

	December 31, 2012

Real estate properties	$	164,041
Acquired real estate leases		453
Rents receivable		2,791
Other assets, net		4,547

Properties held for sale	$	171,832

Assumed real estate lease obligations	$	21
Rent collected in advance		854
Security deposits		1,464

Liabilities related to properties held for sale	$	2,339

Income Statements:

	Year Ended December 31,

	2012			2011			2010
Rental income	$	25,903		$	58,176		$	142,689
Operating expenses		(24,697	)		(38,393	)		(61,950	)
Depreciation and amortization		(12,563	)		(16,454	)		(35,848	)
General and administrative		(3,035	)		(3,798	)		(5,899	)
Acquisition related costs		—			(128	)		(7	)

Operating (loss) income		(14,392	)		(597	)		38,985
Interest and other income		55			58			835
Interest expense		—			—			(3,791	)

(Loss) income from discontinued operations	$	(14,337	)	$	(539	)	$	36,029

Schedule of future minimum lease payments receivable

The future minimum lease payments scheduled to be received by us during the current terms of our leases as of December 31, 2012 are as follows:


2013	$	803,877
2014		769,138
2015		725,432
2016		633,339
2017		542,828
Thereafter		2,529,672

	$	6,004,286

Schedule of future minimum lease payments

The future minimum lease payments scheduled to be paid by us during the current terms of this ground lease under which we are the lessee, as of December 31, 2012, are as follows:


2013	$	1,461
2014		1,477
2015		1,477
2016		1,477
2017		1,477
Thereafter		132,979

	$	140,348

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 51

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph F4

-Subparagraph e

-Appendix F

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 68

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 52

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details