Discontinued Operations and Disposition of Real Estate and Real Estate Investments (Tables)

12 Months Ended

Dec. 31, 2011

Discontinued Operations and Disposition of Real Estate and Real Estate Investments [Abstract]

Components of condensed balance sheet related to assets held for sale

The balance sheet related to the asset held for sale and the operating results related to assets sold, designated as held for sale or deconsolidated as of December 31, 2011, are as follows (in thousands):

	December 31, 2011
Land	$	1,089
Building		1,178
Fixtures and tenant improvements		1,000
		3,267
Less: Accumulated depreciation		(977	)
Total real estate held for sale	$	2,290

Operating results relating to assets sold or designated as held for sale

	For the Year Ended December 31,
	2011			2010			2009
Revenues	$	44,883		$	68,722		$	104,727
Operating expenses		17,984			30,714			48,342
Impairment charges		57,931			87,045			142,473
Interest, net		12,105			25,725			37,992
Debt extinguishment costs, net		7,191			409			467
Depreciation and amortization		13,512			23,479			39,656
		108,723			167,372			268,930
Loss from discontinued operations		(63,840	)		(98,650	)		(164,203	)
Gain on deconsolidation of interests		4,716			5,221			—
Gain (loss) on disposition of real estate, net of tax		40,163			5,775			(24,027	)
Loss from discontinued operations	$	(18,961	)	$	(87,654	)	$	(188,230	)

Net gains on disposition of real estate and real estate investments

The Company recorded net gains on disposition of real estate and real estate investments as follows (in millions):

	For the Year Ended December 31
	2011			2010		2009
Land sales (A)	$	(0.4	)	$	1.0	$	4.8
Previously deferred gains and other gains and losses on dispositions (B)		7.5			0.3		4.3
	$	7.1		$	1.3	$	9.1

(A) These dispositions did not meet the criteria for discontinued operations, as the land did not have any significant operations prior to disposition.

(B) These gains are a result of partial asset sales that did not meet the criteria for discontinued operations and assets that were contributed to joint ventures in prior years.