NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 6. DISPOSITION OF PROPERTIES TANGER FACTORY OUTLET CENTERS, INC. | 51 In May and October 2003, we completed the sale of properties located in Martinsburg, West Virginia and Casa Grande, Arizona, respectively. Net proceeds received from the sales of these properties were approximately $8.7 million. We recorded a loss on sale of real estate of approximately $147,000 in dis- continued operations. In June and November 2002, we completed the sale of two of our non-core properties located in Ft. Lauderdale, Florida and Bourne, Massachusetts, respectively. Net proceeds received from the sales of these properties were approximately $19.9 million. We recorded a gain on sale of real estate of approxi- mately $1.7 million in discontinued operations. Throughout 2002, we sold five outparcels of land, two of which had related land leases with identifiable cash flows, at various properties in our portfolio. These sales totaled $1.5 million in net proceeds. Gains of $167,000 were recorded in other income for the three land outparcels sold and gains of $561,000 were recorded in discontinued operations for the two outparcels with identifiable cash flows as account- ed for under FAS 144.  In accordance with FAS 144, effective for financial statements issued for fiscal years beginning after December 15, 2001, results of operations and gain (loss) on sales of real estate for properties with identifi- able cash flows sold subsequent to December 31, 2001 are reflected in the Consolidated Statements of Operations as discontinued operations for all periods presented. Below is a summary of the results of oper- ations of these properties through their respective disposition dates (in thousands): Summary Statements of Operations — Disposed Properties 2003 2002 2001 Revenues Base rentals $ 1,043 $ 2,863 $ 4,058 Percentage rentals 17 6 17 Expense reimbursements 440 1,071 1,459 Other income 55 50 36 Total revenues 1,555 3,990 5,570 Expenses Property operating 878 1,615 1,796 General and Administrative 3 4 6 Depreciation and amortization 572 1,048 1,232 Total expenses 1,453 2,667 3,034 Discontinued operations before gain (loss) on sale of real estate 102 1,323 2,536 Gain on sale of outparcels — 561 — Gain (loss) on sale of real estate (147) 1,702 — Discontinued operations before minority interest (45) 3,586 2,536 Minority interest 29 (958) (702) Discontinued operations $ (16) $ 2,628 $ 1,834