Real Estate Disposition Activities

9 Months Ended

Sep. 30, 2012

Real Estate Disposition Activities

Real Estate Disposition Activities

6.  Real Estate Disposition Activities

During the three months ended September 30, 2012, the Company did not sell any communities.

As of September 30, 2012, the Company did not have any real estate assets that qualified as held for sale.

The operations for any real estate assets sold from January 1, 2011 through September 30, 2012 have been presented as income from discontinued operations in the accompanying Condensed Consolidated Statements of Comprehensive Income (Loss). Accordingly, certain reclassifications have been made to prior years to reflect discontinued operations consistent with current year presentation.

The following is a summary of income from discontinued operations for the periods presented (dollars in thousands):

	For the three months ended					For the nine months ended
	(unaudited)					(unaudited)
	9-30-12		9-30-11			9-30-12			9-30-11
Rental income	$	—	$	9,469		$	6,986		$	27,832
Operating and other expenses	—		(5,988		)	(2,486		)	(17,277		)
Interest expense, net	—		(1,311		)	(133		)	(3,922		)
Loss on extinguishment of debt	—		—			(602		)	—
Depreciation expense	—		(1,843		)	(895		)	(6,002		)
Income from discontinued operations	$	—	$	327		$	2,870		$	631