Quarterly report pursuant to Section 13 or 15(d)

Real Estate (Tables)

v3.7.0.1
Real Estate (Tables)
3 Months Ended
Mar. 31, 2017
Real Estate [Abstract]  
Schedule of assets in joint venture
As of March 31, 2017 and December 31, 2016, The Maxwell’s assets were as follows (in thousands):
 
March 31, 2017
 
December 31, 2016
Land
$
12,851

 
$
12,851

Income producing property
37,954

 
37,949

Accumulated depreciation and amortization
(5,127
)
 
(4,571
)
Other assets
622

 
456

 
$
46,300

 
$
46,685

Schedule of Accounts Payable and Accrued Liabilities of Joint Ventures
As of March 31, 2017 and December 31, 2016, The Maxwell’s liabilities were as follows (in thousands):
 
March 31, 2017
 
December 31, 2016
Mortgage notes payable (1)
$
31,798

 
$
31,869

Accounts payable and other liabilities
326

 
186

Tenant security deposits
98

 
99

 
$
32,222

 
$
32,154


(1) The mortgage notes payable balances as of March 31, 2017 and December 31, 2016 are eliminated in consolidation due to the purchase of the loan by Washington REIT in January 2016.

Schedule of Dispositions
We did not sell or classify as held for sale any properties during the 2017 Quarter. We sold the following properties in 2016:
Disposition Date
 
Property Name
 
Segment
 
Rentable Square Feet
 
Contract
Sales  Price
(in thousands)
 
Gain on Sale
(in thousands)
May 26, 2016
 
Dulles Station II (1)
 
Office
 
N/A
 
$
12,100

 
$
527

June 27, 2016
 
Maryland Office Portfolio Transaction I (2)
 
Office
 
692,000
 
111,500

 
23,585

September 22, 2016
 
Maryland Office Portfolio Transaction II (3)
 
Office
 
491,000
 
128,500

 
77,592

 
 
Total 2016
 
1,183,000
 
$
252,100

 
$
101,704


(1) 
Land held for future development and an interest in a parking garage.
(2) 
Maryland Office Portfolio Transaction I consists of 6110 Executive Boulevard, 600 Jefferson Plaza, Wayne Plaza and West Gude Drive.
(3) 
Maryland Office Portfolio Transaction II consists of 51 Monroe Street and One Central Plaza.      

Disposal Groups, Including Discontinued Operations
Real estate rental revenue and net income for the Maryland Office Portfolio for the three months ended March 31, 2017 and 2016 are as follows:
 
Three Months Ended March 31,
 
2017
 
2016
Real estate rental revenue
$

 
$
8,430

Net income

 
2,726