Sales of Real Estate and Discontinued Operations (Notes)

6 Months Ended

Jun. 30, 2011

Sales of Real Estate and Discontinued Operations [Abstract]

Sales of Real Estate and Discontinued Operations

Sales of Real Estate and Discontinued Operations

During the six months ended June 30, 2011, the Company disposed of its interests in 11 properties to unrelated third parties for an aggregate gross disposition price of $121,878, which includes the assumption of $28,648 of non-recourse mortgage debt and seller financing of $3,003. The Company recognized an aggregate gain on sales of properties of $5,069 and debt satisfaction charges of $603 as a result of these sales during the six months ended June 30, 2011. During the six months ended June 30, 2010, the Company sold its interests in five properties to unrelated third parties for an aggregate gross disposition price of $42,327, which includes the assumption of $38,101 of non-recourse mortgage debt. The Company recognized an aggregate gain on sales of properties of $498 and debt satisfaction gains of $3,385 during the six months ended June 30, 2010. As of June 30, 2011, the Company had three properties classified as held for sale.

The following presents the operating results for the properties sold and properties classified as held for sale for the applicable periods:

	Three months ended June 30,						Six months ended June 30,
	2011			2010			2011			2010
Total gross revenues	$	526		$	6,819		$	2,594		$	14,815
Pre-tax loss, including gains on sale	$	(5,014	)	$	(18,949	)	$	(29,376	)	$	(44,759	)