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Real Estate Investments (Tables) | 3 Months Ended
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Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Acquisitions | The following table details the Company's real estate acquisition activity for the three months ended March 31, 2023:
Dollars in thousands | DATE ACQUIRED | PURCHASE PRICE |  |  | CASH CONSIDERATION 1 | REAL ESTATE | OTHER 2 | SQUARE FOOTAGE
Tampa, FL | 3/10/23 | $ | 31,500 |  |  |  | $ | 30,499 |  | $ | 30,596 |  | $ | (97) |  | 115,867 |
1 Cash consideration excludes prorations of revenue and expense due to/from seller at the time of the acquisition. 2 Includes other assets acquired, liabilities assumed, and intangibles recognized at acquisition.
Schedule of equity method investments | The Company's investment in and loss recognized for the three months ended March 31, 2023 and 2022 related to its unconsolidated joint ventures accounted for under the equity method are shown in the table below:
| THREE MONTHS ENDED March 31, |  |
Dollars in thousands | 2023 | 2022 |  |  |
Investments in unconsolidated joint ventures, beginning of period | $ | 327,248 |  | $ | 161,942 |  |  |  |
New investment during the period 1 | 3,824 |  | 49,598 |  |  |  |
Equity loss recognized during the period | (780) |  | (345) |  |  |  |
Owner distributions | (2,546) |  | — |  |  |  |
Investments in unconsolidated joint ventures, end of period | $ | 327,746 |  | $ | 211,195 |  |  |  |
1 This was an additional investment in an existing joint venture representing a 40% ownership interest in a property in Dallas, Texas. Also, see 2023 Real Estate Asset Dispositions below for additional information.
Schedule of real estate dispositions | The following table details the Company's dispositions for the three months ended March 31, 2023:
Dollars in thousands | DATE DISPOSED | SALE PRICE | CLOSING ADJUSTMENTS | COMPANY-FINANCED MORTGAGE NOTES | NET PROCEEDS | NET REAL ESTATE INVESTMENT | OTHER (INCLUDING RECEIVABLES) 1 | GAIN/(IMPAIRMENT) | SQUARE FOOTAGE
Tampa, FL & Miami, FL 2 | 1/12/23 | $ | 93,250 |  | $ | (5,875) |  | $ | — |  | $ | 87,375 |  | $ | 87,302 |  | $ | (888) |  | $ | 961 |  | 224,037 |
Dallas, TX 3 | 1/30/23 | 19,210 |  | (141) |  | — |  | 19,069 |  | 18,986 |  | 43 |  | 40 |  | 36,691 |
St. Louis, MO | 2/10/23 | 350 |  | (18) |  | — |  | 332 |  | 398 |  | — |  | (66) |  | 6,500 |
Los Angeles, CA | 3/23/23 | 21,000 |  | (526) |  | — |  | 20,474 |  | 20,610 |  | 52 |  | (188) |  | 37,165 |
Los Angeles, CA 4 | 3/30/23 | 75,000 |  | (8,079) |  | (45,000) |  | 21,921 |  | 88,624 |  | (803) |  | (20,900) |  | 147,078 |
Total dispositions |  | $ | 208,810 |  | $ | (14,639) |  | $ | (45,000) |  | $ | 149,171 |  | $ | 215,920 |  | $ | (1,596) |  | $ | (20,153) |  | 451,471 |
1 Includes straight-line rent receivables, leasing commissions and lease inducements. 2 Includes two properties, sold in two separate transactions to the same buyer on the same date. 3 The Company sold this property to a joint venture in which it retained a 40% interest. Sales price and square footage reflect the total sales price paid by the joint venture and total square footage of the property. 4 The Company entered into a mortgage note agreement with the buyer for $45 million.
Schedule of assets and liabilities held for sale | The table below reflects the assets and liabilities classified as held for sale as of March 31, 2023 and December 31, 2022:
Dollars in thousands |  | March 31, 2023 |  | December 31, 2022
Balance Sheet data: |  |  |  |
Land |  | $ | 205 |  |  | $ | 1,700 |
Building and improvements |  | 1,736 |  |  | 15,164 |
Lease intangibles |  | 2,242 |  |  | 1,986 |
Land held for development |  | 3,251 |  |  | — |
|  | 7,434 |  |  | 18,850 |
Accumulated depreciation |  | (4,183) |  |  | — |
Real estate assets held for sale, net |  | 3,251 |  |  | 18,850 |
Other assets, net |  | 328 |  |  | 43 |
Assets held for sale, net |  | $ | 3,579 |  |  | $ | 18,893 |
Accounts payable and accrued liabilities |  | $ | 277 |  |  | $ | 282 |
Other liabilities |  | — |  |  | 155 |
Liabilities of assets held for sale |  | $ | 277 |  |  | $ | 437 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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