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Property:
6 Months Ended
Jun. 30, 2013
Property:  
Property:

5. Property:

        Property consists of the following:

 
  June 30,
2013
  December 31,
2012
 

Land

  $ 1,689,899   $ 1,572,621  

Buildings and improvements

    6,530,904     6,417,674  

Tenant improvements

    512,875     496,203  

Equipment and furnishings

    149,129     149,959  

Construction in progress

    466,308     376,249  
           

 

    9,349,115     9,012,706  

Less accumulated depreciation

    (1,570,330 )   (1,533,160 )
           

 

  $ 7,778,785   $ 7,479,546  
           

        Depreciation expense was $69,013 and $55,696 for the three months ended June 30, 2013 and 2012, respectively, and $138,174 and $116,207 for the six months ended June 30, 2013 and 2012, respectively.

        The gain on remeasurement, sale or write down of assets, net includes the write off of development costs of $798 and $4,891 for the three months ended June 30, 2013 and 2012, respectively, and $1,371 and $5,925 during the six months ended June 30, 2013 and 2012, respectively. In addition, the gain on remeasurement, sale or write down of assets, net includes the gain on the sale of assets of $5,401 during the six months ended June 30, 2013.