Discontinued Operations

6 Months Ended

Jun. 30, 2012

Discontinued Operations [Abstract]

DISCONTINUED OPERATIONS

13. DISCONTINUED OPERATIONS

The Company sold 21 properties during the six-month period ended June 30, 2012 and had one property held for sale at June 30, 2012. In addition, the Company sold 34 properties in 2011. These asset sales are included in discontinued operations for the three- and six-month periods ended June 30, 2012 and 2011. The balance sheet related to the asset held for sale and the operating results related to assets sold or designated as held for sale as of June 30, 2012, are as follows (in thousands):

	June 30, 2012
Land	$	100
Buildings		8,352
Fixtures and tenant improvements		3,373
		11,825
Less: Accumulated depreciation		(11,323	)
Total assets held for sale	$	502

	Three-Month Periods Ended June 30,					Six-Month Periods Ended June 30,
	2012		2011			2012			2011
Revenues	$	1,672	$	12,626		$	5,783		$	26,554
Operating expenses		322		5,183			2,412			11,039
Impairment charges		—		19,445			15,236			21,428
Interest, net		386		3,670			1,303			7,613
Depreciation and amortization		389		4,239			1,568			8,187
		1,097		32,537			20,519			48,267
Income (loss) from discontinued operations		575		(19,911	)		(14,736	)		(21,713	)
Gain (loss) on disposition of real estate, net of tax		3,226		(7,264	)		3,297			(7,020	)
Income (loss) from discontinued operations	$	3,801	$	(27,175	)	$	(11,439	)	$	(28,733	)