Subsequent Events

6 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Subsequent to June 30, 2015 and in addition to disclosures elsewhere in the unaudited condensed consolidated financial statements, the Company:

• disposed of its interests in two properties for an aggregate gross sales price of $14,650;

• foreclosed on the borrowers of a loan receivable secured by an office property in Westmont, Illinois and, in addition to the underlying property, acquired $2,521 of cash collateral and received $1,400 in full settlement of a claim against a guarantor;

• announced a new 10,000,000 common share repurchase authorization (inclusive of all outstanding prior authorizations), declared a dividend of $0.8125 per Series C Cumulative Convertible Preferred Share for the quarter ending September 30, 2015 and repurchased 150,000 common shares for $1,289;

• acquired the remaining interest in an office property in Philadelphia, Pennsylvania for $4,022;

• completed the build-to-suit industrial property in Oak Creek, Wisconsin; and

• entered into a contract with an unrelated third party to sell its property in Baltimore, Maryland for $121,000, including the assumption of the $55,000 non-recourse mortgage encumbering the property. The Company expects to record an estimated impairment charge of approximately $28,000 in the third quarter of 2015 relating to the sale.