Annual report pursuant to Section 13 and 15(d)

Real Estate Dispositions, Held for Sale, and Impairment Charges (Tables)

v3.8.0.1
Real Estate Dispositions, Held for Sale, and Impairment Charges (Tables)
 12 Months Ended
Dec. 31, 2017
Real Estate [Abstract]  
Summary Properties Sold
Aggregate Square Footage Sold
 
Aggregate Sales Price
 
Aggregate Sales Costs
 
Aggregate Impairment Charge for the Twelve Months Ended December 31, 2017
 
Aggregate Gain on Sale of Real Estate, net
593,763

 
$
30,302

 
$
803

 
$
3,999

 
$
3,993

Components of Operating Income from Real Estate and Related Assets Disposed
The table below summarizes the components of operating income from the real estate and related assets disposed of during the years ended December 31, 2017, 2016, and 2015, respectively (dollars in thousands):
 
 
 
For the year ended December 31,
 
 
2017
 
2016
 
2015
Operating revenue
 
$
1,280


$
2,569

 
$
2,958

Operating expense
 
4,449

(1)
1,883


1,192

Other income (expense), net
 
3,831

(2)
(403
)
 
(922
)
Income from real estate and related assets sold
 
$
662

 
$
283

 
$
844

  (1) Includes $4.0 million impairment charge
  (2) Includes $4.0 million gain on sale of real estate, net
Components Of Income From Real Estate And Related Assets Held For Sale Table
The table below summarizes the components of income from real estate and related assets held for sale at December 31, 2017 (dollars in thousands):
 
 
 
For the year ended December 31,
 
 
2017
 
2016
 
2015
Operating revenue
 
$
872

 
$
1,121

 
$
1,121

Operating expense
 
3,538

(1)
556

 
559

Other income, net
 
—

 
(158
)
 
(232
)
(Loss) income from real estate and related assets held for sale
 
$
(2,666
)
 
$
407

 
$
330


     (1) Includes $2.8 million impairment charge

Components of Assets and Liabilities Held for Sale
The table below summarizes the components of the assets and liabilities held for sale reflected on the accompanying consolidated balance sheet (dollars in thousands):
 
 
 
December 31, 2017
 
December 31, 2016
Assets Held for Sale
 
 
 
 
Real estate, at cost
 
$
12,997

 
$
11,454

Less: accumulated depreciation
 
3,970

 
2,668

Total real estate held for sale, net
 
9,027

 
8,786

Lease intangibles, net
 
9

 
200

Deferred rent receivable, net
 
10

 
575

Other assets
 
—

 
1

Total Assets Held for Sale
 
$
9,046

 
$
9,562

Liabilities Held for Sale
 
 
 
 
Deferred rent liability, net
 
$
—

 
$
755

Asset retirement obligation
 
114

 
286

Total Liabilities Held for Sale
 
$
114

 
$
1,041