Real Estate Investments

9 Months Ended

Sep. 30, 2020

Real Estate Investments, Net [Abstract]

Real Estate Investments

The major components of real estate investments as of September 30, 2020, and December 31, 2019, are as follows:



	September 30, 2020		December 31, 2019
Land	$	14,168	14,168
Buildings and improvements	43,917		43,531
Subtotal	58,085		57,699
Less: accumulated depreciation and amortization	14,493		13,597
Total	$	43,592	44,102

Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets, ranging from 7 to 39 years. Substantially all of the real estate investments relate to assets that are currently subject to operating leases.

On September 28, 2020, San Jose Water Company sold six nonutility properties located in Los Gatos, California for $1,075. SJW Group recognized a pre-tax gain on the sale of real estate investments of $1,048, after selling expenses of $22.

On April 6, 2017, 444 West Santa Clara Street, L.P. sold all of its interest in the commercial building and land the partnership owned and operated. In connection with this sale, the partnership was required to deposit $750 into an escrow account for estimated repairs to the creek next to the land the partnership sold. On April 22, 2019, all creek repairs were completed and a reimbursement of $745 was provided to the partnership. SJW Land Company holds a 70% limited partner interest in 444 West Santa Clara Street, L.P. SJW Land Company and the noncontrolling interest recognized a pre-tax gain on the creek reimbursement of $521 and $224, respectively, on the transaction.