Real Estate Disposition Activities

6 Months Ended

Jun. 30, 2011

Real Estate Disposition Activities

7. Real Estate Disposition Activities

The Company did not sell any communities during the three months ended June 30, 2011. As of June 30, 2011, the Company had two real estate assets, improved land parcels, that qualified as held for sale.

The operations for any real estate assets sold from January 1, 2010 through June 30, 2011 have been presented as income from discontinued operations in the accompanying Condensed Consolidated Statements of Operations and Other Comprehensive Income. 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 six months ended
	6-30-11			6-30-10			6-30-11			6-30-10
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
Rental income	$	—		$	674		$	—		$	4,015
Operating and other expenses		(65	)		(477	)		(132	)		(1,878	)
Depreciation expense		(26	)		(162	)		(65	)		(324	)
Income (loss) from discontinued operations	$	(91	)	$	35		$	(197	)	$	1,813