Real Estate (Tables)

9 Months Ended

Sep. 30, 2020

The Company's real estate assets were comprised of the following ($ in thousands):


	Net Lease(1)		Operating Properties		Total
As of September 30, 2020
Land, at cost	$	188,418	$	106,187	$	294,605
Buildings and improvements, at cost	1,340,832		109,176		1,450,008
Less: accumulated depreciation	(240,319)		(17,199)		(257,518)
Real estate, net(1)	1,288,931		198,164		1,487,095
Real estate available and held for sale(2)	—		5,519		5,519
Total real estate	$	1,288,931	$	203,683	$	1,492,614
As of December 31, 2019
Land, at cost	$	199,710	$	106,187	$	305,897
Buildings and improvements, at cost	1,347,321		107,861		1,455,182
Less: accumulated depreciation	(219,949)		(13,911)		(233,860)
Real estate, net(1)	1,327,082		200,137		1,527,219
Real estate available and held for sale(2)	—		8,650		8,650
Total real estate	$	1,327,082	$	208,787	$	1,535,869

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(1)As of September 30, 2020 and December 31, 2019, real estate, net included $760.4 million and $768.6 million, respectively, of real estate of the Net Lease Venture (refer to Net Lease Venture below). During the nine months ended September 30, 2020, the Company's largest net lease tenant contributed 11.9% of total revenues.

(2)As of September 30, 2020 and December 31, 2019, the Company had $5.5 million and $8.6 million, respectively, of residential condominiums available for sale in its operating properties portfolio.