| Schedule of Real Estate Properties Acquired |
We acquired the following properties (collectively, the “Assembly Portfolio”) during the 2019 Period:
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| Acquisition Date |
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Property Name |
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Property Type |
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# of Units (unaudited) |
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Contract Purchase Price (in thousands) |
| April 30, 2019 |
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Assembly Portfolio - Virginia (1)
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Multifamily |
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1,685 |
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$ |
379,100 |
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| June 27, 2019 |
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Assembly Portfolio - Maryland (2)
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Multifamily |
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428 |
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82,070 |
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Total 2019 |
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2,113 |
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$ |
461,170 |
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______________________________
(1) Consists of Assembly Alexandria, Assembly Manassas, Assembly Dulles, Assembly Leesburg and Assembly Herndon.
(2) Consists of Assembly Germantown and Assembly Watkins Mill.
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| Schedule of Properties Held-for-Sale or Sold and Discontinued Operations |
We sold our interests in the following properties during 2020 and 2019:
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| Disposition Date |
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Property Name |
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Property Type |
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Rentable Square Feet |
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Contract Sales Price
(in thousands) |
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(Loss) Gain on Sale
(in thousands) |
| April 21, 2020 |
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John Marshall II |
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Office |
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223,000 |
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$ |
57,000 |
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$ |
(6,855) |
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Total 2020 |
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223,000 |
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$ |
57,000 |
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$ |
(6,855) |
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| June 26, 2019 |
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Quantico Corporate Center (1)
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Office |
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272,000 |
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$ |
33,000 |
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$ |
(1,046) |
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| July 23, 2019 |
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Shopping Center Portfolio (2)
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Retail |
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800,000 |
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485,250 |
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333,023 |
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| August 21, 2019 |
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Frederick Crossing and Frederick County Square |
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Retail |
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520,000 |
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57,500 |
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9,507 |
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| August 27, 2019 |
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Centre at Hagerstown |
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Retail |
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330,000 |
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23,500 |
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(3,506) |
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| December 19, 2019 |
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1776 G Street |
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Office |
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262,000 |
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129,500 |
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61,007 |
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Total 2019 |
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2,184,000 |
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$ |
728,750 |
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$ |
398,985 |
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______________________________
(1) Consists of 925 and 1000 Corporate Drive.
(2) Consists of five retail properties: Gateway Overlook, Wheaton Park, Olney Village Center, Bradlee Shopping Center and Shoppes of Foxchase.
The results of the Retail Portfolio are classified as discontinued operations and are summarized as follows (amounts in thousands, except for share data):
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Three Months Ended June 30, 2019 |
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Six Months Ended June 30, 2019 |
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| Real estate rental revenue |
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$ |
12,334 |
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$ |
24,074 |
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| Real estate expenses |
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(2,641) |
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(5,708) |
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| Depreciation and amortization |
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(2,377) |
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(4,867) |
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| Interest expense |
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(138) |
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(283) |
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| Income from discontinued operations |
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$ |
7,178 |
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$ |
13,216 |
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| Basic net income per share |
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$ |
0.09 |
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$ |
0.17 |
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| Diluted net income per share |
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$ |
0.09 |
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$ |
0.17 |
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| Capital expenditures |
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$ |
402 |
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$ |
809 |
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