Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

 v2.3.0.11
Discontinued Operations
 6 Months Ended
Jun. 30, 2011
Discontinued Operations  
Discontinued Operations
6.  
DISCONTINUED OPERATIONS

The Company did not dispose of any properties during the six months ended June 30, 2011.

On June 1, 2010, the Company disposed of its 150,050 square foot office property located at 105 Challenger Road in Ridgefield Park, New Jersey and recorded a gain on the disposal of the office property of approximately $4.4 million.  The Company has presented this property as discontinued operations in its statement of operations for all periods presented.

The following table summarizes income from discontinued operations and the related realized gains (losses) and unrealized losses on disposition of rental property, net, for the three and six month periods ended June 30, 2010 (no operations in 2011).  (dollars in thousands)

 
Three Months
Six Months
 
Ended June 30,
Ended June 30,
 
2010
2010
Total revenues
$    945
$ 2,255
Operating and other expenses
(498)
(1,173)
Depreciation and amortization
(302)
(409)
Interest expense (net of interest income)
(134)
(431)
     
Income from discontinued operations before
    
gains (losses) and unrealized losses on
    
disposition of rental property
11
242
Realized gains (losses) and unrealized losses on
    
disposition of rental property, net
4,447
4,447
     
Total discontinued operations, net
$ 4,458
$ 4,689