Investment in Real Estate

6 Months Ended

Jun. 30, 2021

The following table summarizes the Company’s investment in real estate, at cost as of:


	June 30, 2021		December 31, 2020
Land	$	1,351,888	$	1,351,888
Building and improvements	5,948,317		5,840,819
Tenant improvements	742,968		728,111
Furniture and fixtures	12,881		12,250
Property under development	325,017		281,949
INVESTMENT IN REAL ESTATE, AT COST	$	8,381,071	$	8,215,017

Acquisitions

The Company had no acquisitions during the six months ended June 30, 2021.

Dispositions

The Company had no dispositions during the six months ended June 30, 2021.

Held for Sale

As of June 30, 2021, the Company had no properties that met the criteria to be classified as held for sale.

Impairment of Long-Lived Assets

The Company assesses the carrying value of real estate assets and related intangibles whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable in accordance with GAAP. Impairment losses are recorded on real estate assets held for investment when indicators of impairment are present and the future undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amount. The Company recognizes impairment losses to the extent the carrying amount exceeds the fair value, based on Level 1 or Level 2 inputs, less estimated costs to sell.

The Company did not recognize impairment charges during the six months ended June 30, 2021 and 2020.