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Real Estate Investments | 3 Months Ended
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Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Real Estate Investments | Real Estate Investments 2025 Acquisition Activity The Company had no real estate acquisition activity for the three months ended March 31, 2025. Unconsolidated Joint Ventures The Company's investment in and income (losses) recognized for the three months ended March 31, 2025 and 2024 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 | 2025 | 2024 |  |
Investments in unconsolidated joint ventures, beginning of period | $ | 473,122 |  | $ | 311,511 |  |  |
New investment during the period | 852 |  | — |  |  |
Equity income (loss) recognized during the period | 1 |  | (422) |  |  |
Owner distributions | (3,557) |  | (1,335) |  |  |
Investments in unconsolidated joint ventures, end of period | $ | 470,418 |  | $ | 309,754 |  |  |
2025 Real Estate Asset Dispositions The following table details the Company's dispositions for the three months ended March 31, 2025.
Dollars in thousands | DATE DISPOSED | SALE PRICE | CLOSING ADJUSTMENTS | COMPANY-FINANCED MORTGAGE NOTES | NET PROCEEDS | NET REAL ESTATE INVESTMENT | OTHER (INCLUDING RECEIVABLES) | GAIN/(IMPAIRMENT) | SQUARE FOOTAGE
Boston, MA | 2/7/25 | $ | 4,500 |  | $ | (135) |  | $ | — |  | $ | 4,365 |  | $ | 4,325 |  | $ | 15 |  | $ | 25 |  | 30,304 |
Denver, CO 1 | 2/14/25 | 8,600 |  | (2,144) |  | — |  | 6,456 |  | 7,948 |  | 113 |  | (1,605) |  | 69,715 |
Houston, TX 2 | 3/20/25 | 15,000 |  | (4,087) |  | (5,400) |  | 5,513 |  | 14,343 |  | 347 |  | (3,777) |  | 127,933 |
Total dispositions | $ | 28,100 |  | $ | (6,366) |  | $ | (5,400) |  | $ | 16,334 |  | $ | 26,616 |  | $ | 475 |  | $ | (5,357) |  | 227,952 |
1 Includes two medical outpatient properties. 2 The Company provided seller financing of approximately $5.4 million in connection with this sale. Assets Held for Sale The Company had two properties classified as assets held for sale as of March 31, 2025, and three properties classified as assets held for sale as of December 31, 2024. The table below reflects the assets and liabilities classified as held for sale as of March 31, 2025 and December 31, 2024:
Dollars in thousands |  | March 31, 2025 |  | December 31, 2024
Balance Sheet data: |  |  |  |
Land |  | $ | 3,710 |  |  | $ | 10,859 |
Building and improvements |  | 4,023 |  |  | 3,410 |
Lease intangibles |  | 2,056 |  |  | 3,286 |
|  | 9,789 |  |  | 17,555 |
Accumulated depreciation |  | (3,390) |  |  | (5,275) |
Real estate assets held for sale, net 1 |  | 6,399 |  |  | 12,280 |
Other assets, net |  | 236 |  |  | 617 |
Assets held for sale, net |  | $ | 6,635 |  |  | $ | 12,897 |
Accounts payable and accrued liabilities |  | $ | 259 |  |  | $ | 694 |
Other liabilities |  | 163 |  |  | 589 |
Liabilities of assets held for sale |  | $ | 422 |  |  | $ | 1,283 |
1Net real estate assets held for sale include the impact of $2.5 million of impairment charges for the three months ended March 31, 2025.

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