Real Estate Properties (Tables)

12 Months Ended

Dec. 31, 2014

During the years ended December 31, 2014, 2013 and 2012 , we sold the following (dollars in thousands):



Asset	Date Sold	Number of Properties	Number of Buildings	Square Footage	Sales Price		Gain (Loss) on Sale
Sales of properties resulting in gains and losses
Suburban properties	December 2013	3	40	1,670,104	$	89,000	$	(25,521	)
Land parcel	June 2013	—	—	—	2,551		1,765
Suburban property	June 2013	1	1	30,105	1,600		317
Land parcel adjacent to CBD property	March 2013	—	—	—	1,806		1,596
Suburban office and industrial properties(1)	January 2013	3	18	1,060,026	10,250		1,277
		7	59	2,760,235	$	105,207	$	(20,566	)

Suburban property	September 2012	1	—	208,850	$	9,900	$	1,689
Suburban property(2)	June 2012	1	—	76,978	1,250		192
Suburban property (3)	April 2012	1	—	12,934	575		158
		3	—	298,762	$	11,725	$	2,039

Sales of properties with previously recorded asset impairment losses:
CBD and suburban properties(4)	June 2014	14	43	2,784,098	$	215,900	$	—

Suburban properties	December 2013	2	2	77,394	$	2,020	$	—
CBD and suburban properties	November 2013	18	21	2,125,278	50,500		—
Suburban property	October 2013	1	2	199,418	4,000		—
Suburban property	October 2013	1	1	665,545	13,900		—
Suburban properties	October 2013	9	41	1,211,536	43,000		—
Suburban property	August 2013	1	3	129,452	4,100		—
Suburban property	June 2013	1	1	143,802	5,250		—
Suburban property	June 2013	1	2	356,045	16,300		—
Suburban property	May 2013	1	1	57,250	4,025		—
Suburban property	April 2013	1	1	618,000	830		—
		36	75	5,583,720	$	143,925	$	—

(1) We provided mortgage financing to the buyer, an unrelated third party, totaling $7.7 million at 6.0% per annum (Note 8).

(2) We provided mortgage financing to the buyer, an unrelated third party, totaling $1.0 million at 5.0% per annum. In September 2013, this mortgage note was prepaid in full (Note 8).

(3) We provided mortgage financing to the buyer, an unrelated third party, totaling $0.4 million at 6.0% per annum (Note 8).

(4) In connection with this transaction, we recognized a loss on asset impairment of $2.2 million and a loss on early extinguishment of debt of $3.3 million for the year ended December 31, 2014. The sales price excludes mortgage debt repayments. These properties were previously classified as held for sale as of December 31, 2013 and are included in income from discontinued operations for all years presented.

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

Summarized balance sheet information for all properties classified as held for sale and income statement information for properties held for sale or sold is as follows (in thousands):



	December 31,
	2013
Real estate properties	$	536,552
Acquired real estate leases	6,937
Rents receivable	14,180
Other assets, net	15,862
Properties held for sale	$	573,531
Mortgage notes payable, net	$	20,018
Assumed real estate lease obligations	2,070
Rent collected in advance	4,043
Security deposits	2,603
Liabilities related to properties held for sale	$	28,734



	Year Ended December 31,
	2014			2013			2012
Rental income	$	14,243		$	55,073		$	69,752
Tenant reimbursements and other income	1,900			6,842			8,156
Total revenues	16,143			61,915			77,908
Operating expenses	7,138			37,027			46,705
Depreciation and amortization	—			12,550			28,008
General and administrative	10			4,268			5,420
Total expenses	7,148			53,845			80,133
Operating income	8,995			8,070			(2,225		)
Interest and other income	2			65			73
Interest expense	(608		)	(1,742		)	(2,189		)
Income from discontinued operations	$	8,389		$	6,393		$	(4,341	)

Schedule of Future Minimum Lease Payments Receivable

The future minimum lease payments, excluding tenant reimbursement revenue, scheduled to be received by us during the current terms of our leases as of December 31, 2014 are as follows (in thousands):



2015	$	640,967
2016	576,172
2017	513,445
2018	459,290
2019	392,832
Thereafter	1,404,960
	$	3,987,666

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, 2014, are as follows (in thousands):



2015	$	1,477
2016	1,477
2017	1,477
2018	1,483
2019	1,503
Thereafter	129,994
	$	137,411

- 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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