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Real Estate (Tables) | 6 Months Ended
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Jun. 30, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] |
Schedule of Consolidated Real Estate | The Company’s consolidated real estate is comprised of the following for the periods presented (in thousands):
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Land |  | $ | 849,524 |  |  | $ | 872,228 |
Buildings and improvements |  |  | 3,106,413 |  |  |  | 3,128,650 |
Tenant improvements |  |  | 283,309 |  |  |  | 257,955 |
Construction in progress |  |  | 21,023 |  |  |  | 23,250 |
Right-of-use assets - finance leases (Note 11) |  |  | 58,637 |  |  |  | 58,637 |
Total |  |  | 4,318,906 |  |  |  | 4,340,720 |
Less: Accumulated depreciation and amortization |  |  | (871,994 | ) |  |  | (823,439 | )
Operating real estate, net |  |  | 3,446,912 |  |  |  | 3,517,281 |
Real estate under development |  |  | 101,802 |  |  |  | 94,799 |
Net investments in real estate |  | $ | 3,548,714 |  |  | $ | 3,612,080 |
Schedule of Property Dispositions | During the six months ended June 30, 2024, The Company disposed of the following properties and other real estate investments:
Property and Location |  | Owner |  | Date Sold |  | Sale Price |  |  | Gain (Loss) on Sale |
2024 Dispositions |  |  |  |  |  |  |  |  |  |
2208-2216 Fillmore Street - San Francisco, CA |  | Fund IV |  | 4/3/2024 |  | $ | 9,777 |  |  | $ | 1,239 |
2207 Fillmore Street - San Francisco, CA |  | Fund IV |  | 4/3/2024 |  |  | 4,283 |  |  |  | 1,130 |
Shops at Grand - Queens, NY |  | Core |  | 5/16/2024 |  |  | 48,250 |  |  |  | (2,213 | )
Canton Marketplace (Outparcel) - Canton, GA |  | Fund V |  | 6/28/2024 |  |  | 2,200 |  |  |  | 601 |
Total 2024 Dispositions (a) |  |  |  |  |  | $ | 64,510 |  |  | $ | 757 |
(a) During the six months ended June 30, 2024, the Company recorded a $1.2 million loss related to a Fund IV property that was sold in 2019 in connection with a post-closing dispute.
Schedule Of Development In Process Activities | Development activity for the Company’s consolidated properties comprised the following during the periods presented (dollars in thousands):
|  | January 1, 2024 |  |  | Six Months Ended June 30, 2024 |  |  | June 30, 2024 |
|  | Number of Properties |  |  | Carrying Value |  |  | Transfers In |  |  | Capitalized Costs |  |  | Transfers Out |  |  | Number of Properties |  |  | Carrying Value |
Core |  |  | 2 |  |  | $ | 66,083 |  |  | $ | — |  |  | $ | 5,893 |  |  | $ | — |  |  |  | 2 |  |  |  | 71,976 |
Fund III |  |  | 1 |  |  |  | 28,716 |  |  |  | — |  |  |  | 1,110 |  |  |  | — |  |  |  | 1 |  |  |  | 29,826 |
Total |  |  | 3 |  |  | $ | 94,799 |  |  | $ | — |  |  | $ | 7,003 |  |  | $ | — |  |  |  | 3 |  |  | $ | 101,802 |

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