Quarterly report pursuant to Section 13 or 15(d)

Real Estate Held for Sale and Impairment Charges (Tables)

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Real Estate Held for Sale and Impairment Charges (Tables)
3 Months Ended
Mar. 31, 2016
Real Estate [Abstract]  
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 three months ended March 31,  
     2016     2015  

Operating revenue

   $ 134      $ 205   

Operating expense

     71        88   

Other expense

     (74 )(1)      (57
  

 

 

   

 

 

 

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

   $ (11   $ 60   
  

 

 

   

 

 

 

 

(1) Includes $0.04 million impairment charge on our Dayton, Ohio property.
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 condensed consolidated balance sheet (dollars in thousands):

 

     March 31, 2016  

ASSETS HELD FOR SALE

  

Real estate, at cost

   $ 5,557   

Less: accumulated depreciation

     1,791   
  

 

 

 

Total real estate held for sale, net

     3,766   
  

 

 

 

Lease intangibles, net

     147   

Deferred rent receivable, net

     257   

Other assets

     34   
  

 

 

 

TOTAL ASSETS HELD FOR SALE

   $ 4,204   
  

 

 

 

LIABILITIES HELD FOR SALE

  

Deferred rent liability, net

   $ 274   

Asset retirement obligation

     127   

Other liabilities

     759   
  

 

 

 

TOTAL LIABILITIES HELD FOR SALE

   $ 1,160