Sales of Real Estate and Discontinued Operations

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Sales of Real Estate and Discontinued Operations

Sales of Real Estate and Discontinued Operations

For the years ended December 31, 2014, 2013 and 2012, the Company disposed of its interests in certain properties (excluding Greenville, South Carolina in 2014, see note 7, and Pemlex LLC in 2012, see note 9) generating aggregate net proceeds of $226,375, $75,519 and $142,022, respectively, which resulted in gains on sales of $57,507, $24,472 and $13,291, respectively. For the years ended December 31, 2014, 2013 and 2012, the Company recognized net debt satisfaction gains (charges) relating to these properties of $(312), $8,905 and $(206), respectively. These gains (charges) are included in discontinued operations.

At December 31, 2014, the Company had one property classified as held for sale and no properties were classified as held for sale at December 31, 2013.

The following presents the operating results for the properties sold and held for sale during the years ended December 31, 2014, 2013 and 2012:

	Year Ending December 31,
	2014		2013		2012
Total gross revenues	$	20,250	$	44,108	$	55,763
Pre-tax net income, including gains on sales	$	49,680	$	26,701	$	702