Quarterly report pursuant to Section 13 or 15(d)

Real Estate (Tables)

v2.4.0.8
Real Estate (Tables)
9 Months Ended
Sep. 30, 2013
Real Estate [Abstract]  
Land and Capitalized Development Costs
As of September 30, 2013 and December 31, 2012, the land and capitalized development costs are as follows (in thousands):
 
September 30, 2013
 
December 31, 2012
650 North Glebe
$
24,185

 
$
15,646

1225 First Street
21,409

 
19,807

Schedule of Accounts Payable and Accrued Liabilities of Joint Ventures
As of September 30, 2013 and December 31, 2012, the accounts payable and accrued liabilities related to the joint ventures are as follows (in thousands):
 
September 30, 2013
 
December 31, 2012
650 North Glebe
$
2,584

 
$
115

1225 First Street
249

 
1,676

Schedule of Income Statement Results for Medical Office Segment
The results of our medical office segment are summarized as follows (amounts in thousands, except per share data):
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2013
 
2012
 
2013
 
2012
Real estate revenues
$
10,889

 
$
11,282

 
$
32,928

 
$
33,580

Net income
$
3,820

 
$
2,463

 
$
10,080

 
$
7,456

Basic net income per share
$
0.06

 
$
0.04

 
$
0.15

 
$
0.11

Diluted net income per share
$
0.06

 
$
0.04

 
$
0.15

 
$
0.11

Schedule of Dispositions
We classified as held for sale or sold the following properties in 2013 and 2012:
Disposition Date
 
Property Name
 
Segment
 
Rentable Square Feet
 
Contract
Purchase  Price
(In thousands)
March 19, 2013
 
Atrium Building
 
Office
 
79,000

 
$
15,750

N/A
 
Medical Office Portfolio (1)
 
Medical Office / Office
 
1,520,000

 
500,750

 
 
 
 
Total 2013
 
1,599,000

 
$
516,500

 
 
 
 
 
 
 
 
 
August 31, 2012
 
1700 Research Boulevard
 
Office
 
101,000

 
$
14,250

December 20, 2012
 
Plumtree Medical Center
 
Medical Office
 
33,000

 
8,750

 
 
 
 
Total 2012
 
134,000

 
$
23,000


Schedule of Investment in Real Estate for Properties Sold or Held For Sale and Related Liabilities
As of September 30, 2013 and December 31, 2012, investment in real estate for properties sold or held for sale were as follows (in thousands):
 
September 30, 2013
 
December 31, 2012
Office
$
55,049

 
$
71,605

Medical office
409,486

 
406,873

Total
464,535

 
478,478

Less accumulated depreciation
(118,378
)
 
(113,479
)
Investment in real estate sold or held for sale, net
$
346,157

 
$
364,999


As of September 30, 2013 and December 31, 2012, liabilities related to properties sold or held for sale were as follows (in thousands):
 
September 30, 2013
 
December 31, 2012
Mortgage notes
$
23,467

 
$
23,945

Other liabilities
7,808

 
8,412

Liabilities related to properties sold or held for sale
$
31,275

 
$
32,357

Operating Income (Loss) for Discontinued Operations
Income from operations of properties sold or held for sale for the three and nine months ended September 30, 2013 and 2012 were as follows (in thousands):
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2013
 
2012
 
2013
 
2012
Revenues
$
12,073

 
$
13,725

 
37,141

 
41,338

Property expenses
(4,398
)
 
(4,793
)
 
(12,856
)
 
(13,992
)
Depreciation and amortization
(3,215
)
 
(4,536
)
 
(12,161
)
 
(14,210
)
Interest expense
(329
)
 
(1,163
)
 
(985
)
 
(3,494
)
 
$
4,131

 
$
3,233

 
$
11,139

 
$
9,642

Operating Income (Loss) By Property Classified As Discontinued Operations
Income from operations of properties sold or held for sale by property for the three and nine months ended September 30, 2013 and 2012 were as follows (in thousands):
 
 
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
Property
 
Segment
 
2013
 
2012
 
2013
 
2012
1700 Research Boulevard
 
Office
 
$

 
$
106

 

 
225

Atrium Building
 
Office
 

 
320

 
185

 
833

Plumtree Medical Center
 
Medical Office
 

 
88

 

 
117

Medical Office Portfolio
 
Medical Office / Office
 
4,131

 
2,719

 
10,954

 
8,467

 
 
 
 
$
4,131

 
$
3,233

 
$
11,139

 
$
9,642