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Real Estate | 3 Months Ended
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Mar. 31, 2019
Acquisition And Disposition Of Properties And Discontinued Operations [Abstract] |
Real Estate | 2. Real Estate The Company’s consolidated real estate is comprised of the following (in thousands):
|  | March 31, 2019 |  |  | December 31, 2018 |
Land |  | $ | 705,402 |  |  | $ | 710,469 |
Buildings and improvements |  |  | 2,574,459 |  |  |  | 2,594,828 |
Tenant improvements |  |  | 157,502 |  |  |  | 151,154 |
Construction in progress |  |  | 30,413 |  |  |  | 44,092 |
Properties under capital lease |  |  | — |  |  |  | 76,965 |
Right-of-use assets - finance leases |  |  | 82,629 |  |  |  | — |
Right-of-use assets - operating leases |  |  | 11,871 |  |  |  | — |
Total |  |  | 3,562,276 |  |  |  | 3,577,508 |
Less: Accumulated depreciation |  |  | (438,033 | ) |  |  | (416,657 | )
Operating real estate, net |  |  | 3,124,243 |  |  |  | 3,160,851 |
Real estate under development, at cost |  |  | 193,315 |  |  |  | 120,297 |
Net investments in real estate |  | $ | 3,317,558 |  |  | $ | 3,281,148 |
Acquisitions and Conversions During the three months ended March 31, 2019 and the year ended December 31, 2018, the Company acquired the following consolidated retail properties (dollars in thousands):
Property and Location |  | Percent Acquired |  |  | Date of Acquisition |  | Purchase Price |
2019 Acquisitions |  |  |  |  |  |  |  |  |  |
Core |  |  |  |  |  |  |  |  |  |
Soho Portfolio - 51 and 53 Greene Street (a) |  | 100% |  |  | Mar 15, 2019 Mar 27, 2019 |  | $ | 32,194 |
Total 2019 Acquisitions |  |  |  |  |  |  |  | $ | 32,194 |
2018 Acquisitions and Conversions |  |  |  |  |  |  |  |  |  |
Core |  |  |  |  |  |  |  |  |  |
Bedford Green Land Parcel - Bedford Hills, NY |  | 100% |  |  | Mar 23, 2018 |  | $ | 1,337 |
Subtotal Core |  |  |  |  |  |  |  |  | 1,337 |
Fund IV |  |  |  |  |  |  |  |  |  |
Broughton Street Partners I - Savannah, GA (Conversion) ( |  | Number of Properties |  |  | Carrying Value |  |  | Transfers In |  |  | Capitalized Costs |  |  | Transfers Out |  |  | Number of Properties |  |  | Carrying Value |
Core |  |  | 1 |  |  | $ | 7,759 |  |  | $ | 57,342 |  |  | $ | 253 |  |  | $ | — |  |  |  | 1 |  |  | $ | 65,354 |
Fund II |  |  | — |  |  |  | 7,462 |  |  |  | — |  |  |  | 738 |  |  |  | — |  |  |  | — |  |  |  | 8,200 |
Fund III |  |  | 1 |  |  |  | 21,242 |  |  |  | 12,313 |  |  |  | 642 |  |  |  | — |  |  |  | 1 |  |  |  | 34,197 |
Fund IV |  |  | 1 |  |  |  | 83,834 |  |  |  | — |  |  |  | 1,730 |  |  |  | — |  |  |  | 1 |  |  |  | 85,564 |
Total |  |  | 3 |  |  | $ | 120,297 |  |  | $ | 69,655 |  |  | $ | 3,363 |  |  | $ | — |  |  |  | 3 |  |  | $ | 193,315 |
The number of properties in the table above refers to projects comprising the entire property; however, certain projects represent a portion of a property as follows: During the three months ended March 31, 2019, the Company placed a portion of one Core property (City Center) and a portion of one Fund III property (Cortlandt Crossing) into development and during 2017 the Company placed Fund II’s City Point Phase I and II project into service. Fund II amounts are comprised of the remaining City Point Phase III project. During the year ended December 31, 2018, the Company placed one Core development project into service. In addition to the consolidated projects noted above, the Company had one unconsolidated project in development at December 31, 2017, which it placed into service during the year ended December 31, 2018. Construction in progress pertains to construction activity at the Company’s operating properties which are in service and continue to operate during the construction period.

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- Definition Acquisition and disposition of properties and discontinued operations. + References No definition available. + Details
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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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