Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2016

Components of discontinued operations

The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets for properties sold in 2013 and prior years during the six months and quarters ended June 30, 2016 and 2015 (amounts in thousands).

	Six Months Ended June 30,						Quarter Ended June 30,
	2016			2015			2016			2015
REVENUES
Rental income	$	217		$	338		$	99		$	177
Total revenues	217			338			99			177
EXPENSES (1)
Property and maintenance	(5		)	(67		)	(2		)	—
Real estate taxes and insurance	2			53			1			1
General and administrative	66			71			62			65
Total expenses	63			57			61			66
Discontinued operating income	154			281			38			111
Interest and other income	—			3			—			3
Other expenses	(280		)	—			—			—
Income and other tax (expense) benefit	(11		)	(15		)	(3		)	—
Discontinued operations	(137		)	269			35			114
Net gain on sales of discontinued operations	15			—			—			—
Discontinued operations, net	$	(122	)	$	269		$	35		$	114

(1) Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership.

Starwood Portfolio [Member]

Components of discontinued operations

As a result, the following table summarizes the results of operations attributable to the Starwood Transaction for the six months and quarters ended June 30, 2016 and 2015 (amounts in thousands):

	Six Months Ended June 30,						Quarter Ended June 30,
	2016			2015			2016			2015
REVENUES
Rental income	$	30,421		$	209,911		$	304		$	106,202
Total revenues	30,421			209,911			304			106,202
EXPENSES (1)
Property and maintenance	7,923			38,702			33			19,616
Real estate taxes and insurance	2,932			24,624			60			12,477
Property management	2			6			—			3
General and administrative	15			25			14			24
Depreciation	—			52,432			—			26,238
Total expenses	10,872			115,789			107			58,358
Operating income	19,549			94,122			197			47,844
Interest and other income	11			—			9			—
Interest (2):
Expense incurred, net	(374		)	(342		)	(46		)	(178		)
Amortization of deferred financing costs	(707		)	(49		)	—			(25		)
Income and other tax (expense) benefit	(1		)	(1		)	(1		)	(1		)
Net gain (loss) on sales of real estate properties	3,161,200			—			(21		)	—
Income from operations attributable to controlling interests – Operating     Partnership	3,179,678			93,730			138			47,640
Income from operations attributable to Noncontrolling Interests – Operating     Partnership	(122,138		)	(3,574		)	(6		)	(1,820		)
Income from operations attributable to controlling interests – Company	$	3,057,540		$	90,156		$	132		$	45,820

(1) Includes expenses paid in the current period for properties held for sale.

(2) Includes only interest expense specific to secured mortgage notes payable for properties held for sale which was repaid at or before closing.