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Real Estate Investments (Tables) | 6 Months Ended
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Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Real Estate Acquisitions | The following table details the Company's real estate acquisition activity for the six months ended June 30, 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. Subsequent to June 30, 2023, the Company acquired the following property:
Dollars in thousands | DATE ACQUIRED | PURCHASE PRICE | SQUARE FOOTAGE
Colorado Springs, CO | 7/28/23 | $ | 11,450 |  | 42,770 |
Schedule of Equity Method Investments | The Company's investment in and loss recognized for the three and six months ended June 30, 2023 and 2022 related to its unconsolidated joint ventures accounted for under the equity method are shown in the table below:
| THREE MONTHS ENDED June 30, | SIX MONTHS ENDED June 30,
Dollars in thousands | 2023 | 2022 | 2023 | 2022
Investments in unconsolidated joint ventures, beginning of period | $ | 327,746 |  | $ | 211,195 |  | $ | 327,248 |  | $ | 161,942 |
New investment during the period 1 | — |  | — |  | 3,824 |  | 49,599 |
Equity loss recognized during the period | (17) |  | (307) |  | (797) |  | (652) |
Owner distributions | (484) |  | (107) |  | (3,030) |  | (108) |
Investments in unconsolidated joint ventures, end of period | $ | 327,245 |  | $ | 210,781 |  | $ | 327,245 |  | $ | 210,781 |
1 In 2023, this was an additional investment in an existing joint venture in which the Company owns a 40% ownership interest. The investment consisted of a sale of a property in Dallas, Texas to the joint venture. 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 six months ended June 30, 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 |
Los Angeles, CA 5 | 5/12/23 | 3,300 |  | (334) |  | — |  | 2,966 |  | 3,268 |  | — |  | (302) |  | — |
Albany, NY | 6/30/23 | 10,000 |  | (1,229) |  | — |  | 8,771 |  | 2,613 |  | (1,040) |  | 7,198 |  | 40,870 |
Total dispositions |  | $ | 222,110 |  | $ | (16,202) |  | $ | (45,000) |  | $ | 160,908 |  | $ | 221,801 |  | $ | (2,636) |  | $ | (13,257) |  | 492,341 |
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. 5 The Company sold a land parcel totaling 0.34 acres. Subsequent to June 30, 2023, the Company disposed of the following property:
Dollars in thousands | DATE DISPOSED | SALES PRICE | SQUARE FOOTAGE
Houston, TX | 8/2/23 | $ | 8,320 |  | 57,170 |
Schedule of Assets and Liabilities Held for Sale | The table below reflects the assets and liabilities classified as held for sale as of June 30, 2023 and December 31, 2022:
Dollars in thousands |  | June 30, 2023 |  | December 31, 2022
Balance Sheet data: |  |  |  |
Land |  | $ | 205 |  |  | $ | 1,700 |
Building and improvements |  | 1,736 |  |  | 15,164 |
Lease intangibles |  | 2,242 |  |  | 1,986 |
|  | 4,183 |  |  | 18,850 |
Accumulated depreciation |  | (4,183) |  |  | — |
Real estate assets held for sale, net |  | — |  |  | 18,850 |
Other assets, net |  | 151 |  |  | 43 |
Assets held for sale, net |  | $ | 151 |  |  | $ | 18,893 |
Accounts payable and accrued liabilities |  | $ | 222 |  |  | $ | 282 |
Other liabilities |  | — |  |  | 155 |
Liabilities of assets held for sale |  | $ | 222 |  |  | $ | 437 |

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