Sales of Real Estate and Discontinued Operations

12 Months Ended

Dec. 31, 2012

Real Estate and Discontinued Operations [Abstract]

Sales of Real Estate and Discontinued Operations

Sales of Real Estate and Discontinued Operations

The Company disposed of its interests in 14 properties (excluding its interest in Pemlex LLC - see note 9) and a 6.9-acre land parcel in 2012, 17 properties in 2011 and 13 properties in 2010. For the years ended December 31, 2012, 2011 and 2010, these sales generated aggregate net proceeds of $142,022, $124,039 and $80,224, respectively, which resulted in gains on sales of $13,291, $6,557 and $14,613, respectively. For the years ended December 31, 2012, 2011 and 2010, the Company recognized net debt satisfaction gains (charges) relating to these properties of $(178), $(606) and $2,924, respectively. These gains (charges) are included in discontinued operations.

At December 31, 2012 and 2011, the Company had no properties classified as held for sale.

The following presents the operating results for the properties sold and held for sale during the years ended December 31, 2012, 2011 and 2010:

	Year Ending December 31,
	2012		2011			2010
Total gross revenues	$	7,892	$	22,718		$	46,572
Pre-tax net income (loss), including gains on sales	$	5,943	$	(70,591	)	$	(29,339	)