Property Dispositions and Discontinued Operations

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Property Dispositions and Discontinued Operations

Property Dispositions and Discontinued Operations

For the years ended December 31, 2015, 2014 and 2013, the Company disposed of its interests in certain properties (excluding Greenville, South Carolina in 2014, see note 7) generating aggregate net proceeds of $156,461, $226,375 and $75,519, respectively, which resulted in gains on sales of $24,884, $57,507 and $24,472, respectively. For the years ended December 31, 2015, 2014 and 2013, the Company recognized net debt satisfaction gains (charges) relating to these properties of $21,504, $(312) and $8,905, respectively. The results of operations for properties disposed of in 2015, that were not classified as held for sale as of December 31, 2014, are included within continuing operations in the consolidated financial statements in accordance with recent guidance issued by the FASB.

At December 31, 2015, the Company had two properties classified as held for sale.

Assets and liabilities of held for sale properties as of December 31, 2015 consisted of the following:

Assets:
Real estate, at cost	$	16,590
Real estate, intangible assets	10,786
Accumulated depreciation and amortization	(4,069		)
Deferred rent receivable	1,118
	$	24,425
Liabilities:
Other	$	32
Mortgage payable	8,373
	$	8,405