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Real Estate Investments
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Real Estate Investments Real Estate Investments
2024 Acquisition Activity
The Company had no real estate acquisition activity for the six months ended June 30, 2024.

Unconsolidated Joint Ventures
The Company's investment in and loss recognized for the three and six months ended June 30, 2024 and 2023 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 thousands2024202320242023
Investments in unconsolidated joint ventures, beginning of period $309,754 $327,746 $311,511 $327,248 
New investment during the period 1
66,547 — 66,547 3,824 
Equity loss recognized during the period (146)(17)(568)(797)
Owner distributions(1,314)(484)(2,649)(3,030)
Investments in unconsolidated joint ventures, end of period $374,841 $327,245 $374,841 $327,245 
1In the second quarter of 2024, the Company contributed 11 properties into a new joint venture in which it retained a 20% ownership interest. See 2024 "Real Estate Asset Dispositions" below for additional information. In 2023, there was an additional investment in an existing joint venture in which the Company retained a 40% ownership interest. The investment consisted of the Company's contribution of a property in Dallas, Texas to the joint venture.
2024 Real Estate Asset Dispositions
The following table details the Company's dispositions and joint venture contributions for the six months ended June 30, 2024.
Dollars in thousandsDATE DISPOSEDSALE PRICECLOSING ADJUSTMENTSNET PROCEEDSNET REAL ESTATE INVESTMENTOTHER (INCLUDING RECEIVABLES) GAIN/(IMPAIRMENT)SQUARE FOOTAGE
Albany, NY4/1/24$725 $(60)$665 $765 $(82)$(18)14,800 
San Angelo, TX4/12/245,085 (128)4,957 4,917 66 (26)24,580 
Houston, TX5/20/24250 (9)241 713 (520)48 37,040 
Multiple 1
5/23/24284,348 (14,270)270,078 254,176 25,836 (9,934)556,274 
Denver, CO5/30/2419,000 (628)18,372 18,522 165 (315)37,130 
Austin, TX 1
6/6/2454,858 (1,575)53,283 27,964 623 24,696 129,879 
Minneapolis, MN6/21/241,082 (144)938 303 43 592 50,291 
Greensboro/Raleigh, NC 2, 3
6/28/2499,518 (2,835)96,683 86,810 906 8,967 309,424 
Total dispositions$464,866 $(19,649)$445,217 $394,170 $27,037 $24,010 1,159,418 
1The Company contributed the following medical outpatient properties to a joint venture in which the Company retained 20% ownership: one in each of Raleigh, NC, New York, NY, Philadelphia, PA, Atlanta, GA and Austin, TX; two medical outpatient properties in Los Angeles and four in Seattle, WA. Sale price and square footage reflect the total sale price paid by the joint venture and total square footage of the property. The net proceeds to the Company related to these dispositions totaled $256.8 million.
2The Company sold seven medical outpatient properties in Greensboro, NC and two medical outpatient properties in Raleigh, NC to a single buyer in a single transaction.
3The amount in the net proceeds column for this portfolio disposition includes the receivable for the cash held in escrow that closed on June 28, 2024 and was received by the Company on July 1, 2024. These proceeds were recorded as a receivable in other assets, net as of June 30, 2024.
Assets Held for Sale
The Company had three properties classified as assets held for sale as of June 30, 2024 and one property classified as assets held for sale as of December 31, 2023. The table below reflects the assets and liabilities classified as held for sale as of June 30, 2024 and December 31, 2023:
Dollars in thousandsJune 30, 2024December 31, 2023
Balance Sheet data:
Land$2,330 $1,850 
Building and improvements43,342 6,779 
Lease intangibles1,017 1,017 
46,689 9,646 
Accumulated depreciation(13,600)(913)
Real estate assets held for sale, net 33,089 8,733 
Cash and cash equivalents— — 
Operating lease right-of-use assets850 — 
Other assets, net591 101 
Assets held for sale, net$34,530 $8,834 
Accounts payable and accrued liabilities$531 $23 
Operating lease liabilities589 — 
Other liabilities685 272 
Liabilities of assets held for sale$1,805 $295