Annual report pursuant to Section 13 and 15(d)

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

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Real Estate Dispositions, Held for Sale, and Impairment Charges (Tables)
12 Months Ended
Dec. 31, 2015
Real Estate [Abstract]  
Components of Operating Income from Real Estate and Related Assets Disposed

The table below summarizes the components of operating income from real estate and related assets disposed of for the Columbus, Ohio, Birmingham, Alabama, and Columbia, Missouri properties during the years ended December 31, 2015, 2014, and 2013, respectively (dollars in thousands):

 

     For the year ended December 31,  
     2015     2014      2013  

Operating revenue

   $ 751  (1)    $ 669       $ 669   

Operating expense

     100        203         193   

Other expense

     (136     (160      (163
  

 

 

   

 

 

    

 

 

 

Income from real estate and related assets sold

   $ 515      $ 306       $ 313   
  

 

 

   

 

 

    

 

 

 

 

(1) Includes $0.2 million lease termination penalty received in conjunction with the sale of our Birmingham, Alabama and Columbia, Missouri properties.
Components of Income from Real Estate and Related Assets Held for Sale

The table below summarizes the components of income from real estate and related assets held for sale (dollars in thousands):

 

     For the year ended December 31,  
     2015     2014      2013  

Operating revenue

   $ 284      $ 505       $ 275   

Operating expense

     808  (1)      295         234   

Other expense

     (57     (104      (109
  

 

 

   

 

 

    

 

 

 

(Loss) income from real estate and related assets held for sale

   $ (581   $ 106       $ (68
  

 

 

   

 

 

    

 

 

 

 

(1) $0.6 million of operating expenses relates to the impairment charge recorded in operating expenses during the year ended December 31, 2015.
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, 2015  

ASSETS HELD FOR SALE

  

Real estate, at cost

   $ 1,899   

Less: accumulated depreciation

     846   
  

 

 

 

Total real estate held for sale, net

     1,053   
  

 

 

 

Other assets

     24   
  

 

 

 

TOTAL ASSETS HELD FOR SALE

   $ 1,077   
  

 

 

 

LIABILITIES HELD FOR SALE

  

Asset retirement obligation

   $ 75   

Accounts payable and accrued expenses

     1   

Other liabilities

     792   
  

 

 

 

TOTAL LIABILITIES HELD FOR SALE

   $ 868