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Investments in Real Estate (Tables)
 9 Months Ended
Sep. 30, 2016
Banking And Thrift [Abstract]  
Summary of Investments in Real Estate

The table below summarizes our investments in real estate:

 

 

 

As of September 30, 2016

 

 

As of December 31, 2015

 

 

Depreciable Lives

(In years)

 

Land

 

$

178,515

 

 

$

190,585

 

 

 

—

 

Building

 

 

1,119,422

 

 

 

1,168,453

 

 

 

40

 

Furniture, fixtures and equipment

 

 

18,788

 

 

 

12,977

 

 

5-10

 

Total investment in real estate

 

$

1,316,725

 

 

$

1,372,015

 

 

 

 

 

Accumulated depreciation

 

 

(52,824

)

 

 

(39,638

)

 

 

 

 

Investments in real estate, net

 

$

1,263,901

 

 

$

1,332,377

 

 

 

 

 

 
Summary of Disposition of Property's

During the nine months ended September 30, 2016 we recognized a $9 loss related to the sale of a multifamily property which occurred in the prior year as we settled remaining amounts with buyers. The below table summarizes the dispositions for the nine months ended September 30, 2016 and also presents each property’s contribution to net income (loss) allocable to common shares, excluding the impact of the gain (loss) on sale:      

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) allocable to common shares

 

Property Name

 

Date of Sale

 

Sale Price

 

 

Gain (loss) on sale

 

 

For the Three Months Ended September 30, 2016

 

 

For the Nine Months Ended September 30, 2016

 

Cumberland Glen

 

   02/18/2016

 

$

18,000

 

 

$

2,452

 

 

$

—

 

 

$

35

 

Belle Creek

 

   04/07/2016

 

 

23,000

 

 

 

14,191

 

 

 

2

 

 

 

252

 

Tresa

 

   05/05/2016

 

 

47,000

 

 

 

15,139

 

 

 

1

 

 

 

354

 

Total

 

 

 

$

88,000

 

 

$

31,782

 

 

$

3

 

 

$

641