Quarterly report pursuant to Section 13 or 15(d)

Real Estate (Tables)

v2.4.0.6
Real Estate (Tables)
6 Months Ended
Jun. 30, 2012
Real Estate Investments [Abstract]  
Acquisition of Property During 2012
We acquired the following property during the 2012 Period:
Acquisition Date
 
Property Name
 
Property Type
 
Rentable Square Feet
 
Contract Purchase Price (in thousands)
June 21, 2012
 
Fairgate at Ballston
 
Office
 
147,000

 
$
52,250

Land and Capitalized Development Costs
As of June 30, 2012 and December 31, 2011, the land and capitalized development costs are as follows (in millions):
 
June 30, 2012
 
December 31, 2011
650 North Glebe
$
14.5

 
$
13.4

1219 First Street
$
16.0

 
$
14.4

Schedule of Accounts Payable and Accrued Liabilities of Joint Ventures [Table Text Block]
As of June 30, 2012 and December 31, 2011, the accounts payable and accrued liabilities related to the joint ventures are as follows (in millions):
 
June 30, 2012
 
December 31, 2011
650 North Glebe
$
0.3

 
$
0.1

1219 First Street
$
0.4

 
$
0.2

Schedule of Dispositions
We sold or classified as held for sale the following properties during 2011:
Disposition Date
 
Property Name
 
Property Type
 
Rentable Square Feet
 
Contract
Purchase  Price
(In millions)
Various (1)
 
Industrial Portfolio(1)
 
Industrial/Office
 
3,092,000

 
$
350.9

April 5, 2011
 
Dulles Station, Phase I
 
Office
 
180,000

 
58.8

 
 
 
 
Total 2011
 
3,272,000

 
$
409.7

 
(1) 
The Industrial Portfolio consists of every property in our industrial segment and two office properties (the Crescent and Albemarle Point). On September 2, 2011 we closed on the sale of industrial properties (8880 Gorman Road, Dulles South IV, Fullerton Business Center, Hampton Overlook, Alban Business Center, Pickett Industrial Park, Northern Virginia Industrial Park I, 270 Technology Park, Fullerton Industrial Center, Sully Square, 9950 Business Parkway, Hampton South and 8900 Telegraph Road) and two office properties (Crescent and Albemarle Point). On October 3, 2011, we closed on the sale of Northern Virginia Industrial Park II. On November 2, 2011, we closed on the sale of 6100 Columbia Park Road and Dulles Business Park I and II.
Operating Results of Properties Classified as Discontinued Operations
Operating results of the properties classified as discontinued operations are summarized as follows (in thousands):
 
Quarter Ended June 30,
 
Period Ended June 30,
 
2012
 
2011
 
2012
 
2011
Revenues
$

 
$
8,931

 
$

 
$
19,014

Property expenses

 
(2,468
)
 

 
(5,796
)
Real estate impairment

 

 

 
(599
)
Depreciation and amortization

 
(2,933
)
 

 
(6,287
)
Interest expense

 
(232
)
 

 
(465
)
Income from operations of properties sold or held for sale
$

 
$
3,298

 
$

 
$
5,867

Less: Net income attributable to noncontrolling interests in subsidiaries

 
(34
)
 

 
(57
)
Income from operations of properties sold or held for sale attributable to the controlling interests
$

 
$
3,264

 
$

 
$
5,810

Operating Income (Loss) By Property Classified As Discontinued Operations
Operating income (loss) by each property classified as discontinued operations is summarized below (in thousands):
 
 
 
 
Quarter Ended June 30,
 
Period Ended June 30,
Property
 
Segment
 
2012
 
2011
 
2012
 
2011
Industrial Portfolio
 
Industrial/Office
 
$

 
$
3,308

 
$

 
$
6,335

Dulles Station, Phase I
 
Office
 

 
(10
)
 

 
(468
)
 
 
 
 
$

 
$
3,298

 
$

 
$
5,867