Properties, Net (Tables)

3 Months Ended

Mar. 31, 2016

Operating properties, net consisted of the following (in thousands):



	March 31, 2016			December 31, 2015
Land	$	464,674		$	463,305
Buildings and improvements	3,111,871			3,157,587
Less: Accumulated depreciation	(713,283		)	(700,363		)
Operating properties, net	$	2,863,262		$	2,920,529

Schedule of projects in development or held for future development

Projects in development or held for future development consisted of the following (in thousands):



	March 31, 2016		December 31, 2015
Land	$	220,834	$	207,774
Development in progress, excluding land	195,335		221,445
Projects in development or held for future development	$	416,169	$	429,219

Components of assets held for sale

The table below sets forth the components of assets held for sale on our consolidated balance sheet for these properties (in thousands):



	March 31, 2016		December 31, 2015
Properties, net	$	199,481	$	90,188
Deferred rent receivable	12,542		2,891
Intangible assets on real estate acquisitions, net	1,591		1,591
Deferred leasing costs, net	9,228		1,391
Lease incentives, net	3,055		721
Assets held for sale, net	$	225,897	$	96,782

Pro Forma results

The pro forma financial information was prepared for comparative purposes only and is not necessarily indicative of what would have occurred had these acquisitions been made at that time or of results which may occur in the future (in thousands, except per share amounts).



	For the Three Months Ended March 31, 2015
	For the Three Months Ended March 31, 2015
	(Unaudited)
Pro forma total revenues	$	169,925
Pro forma net income attributable to COPT common shareholders	$	10,847
Pro forma EPS:
Basic	$	0.11
Diluted	$	0.11