Real Estate Properties (Tables)

3 Months Ended

Mar. 31, 2013

Purchase prices of acquisitions allocated based on the estimated fair values of the acquired assets and assumed liabilities

												Acquired
		Number								Acquired		Real Estate
		of	Square	Purchase				Buildings and		Real Estate		Lease
Date	Location	Properties	Feet	Price(1)		Land		Improvements		Leases		Obligations

SIR Acquisitions through March 31, 2013:
January 2013	Addison, TX(2)(3)	2	553,799	$	105,000	$	10,125	$	94,875	$	—	$	—
February 2013	Provo, UT(2)	2	125,225	34,720		3,400		25,938		5,382		—
March 2013	San Antonio, TX(2)	1	99,986	18,600		3,197		12,175		3,507		(279		)
		5	779,010	$	158,320	$	16,722	$	132,988	$	8,889	$	(279	)

(1) Purchase price excludes closing costs.

(2) 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.

(3) This property was acquired and simultaneously leased back to the seller in a sale/leaseback transaction. SIR accounted for this transaction as an acquisition of assets. SIR recognized acquisition costs of $188, which SIR capitalized as part of the transaction.

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

Balance Sheets:

	March 31, 2013		December 31, 2012
Real estate properties	$	152,940	$	164,041
Acquired real estate leases	453		453
Rents receivable	2,624		2,791
Other assets, net	3,484		4,547
Properties held for sale	$	159,501	$	171,832

Assumed real estate lease obligations	$	21	$	21
Rent collected in advance	598		854
Security deposits	1,375		1,464
Liabilities related to properties held for sale	$	1,994	$	2,339

Statements of Operations:

	Three Months Ended March 31,
	2013			2012
Rental income	$	4,807		$	7,868
Operating expenses	(6,035		)	(6,854		)
Depreciation and amortization	—			(3,332		)
General and administrative	(684		)	(774		)
Operating loss	(1,912		)	(3,092		)

Interest and other income	—			3
Loss from discontinued operations	$	(1,912	)	$	(3,089	)

- 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.

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