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Real Estate Activity (Tables)
 9 Months Ended
Sep. 30, 2020
Real Estate [Abstract]  
Schedule of the real estate owned

Below is a summary of the real estate owned as of September 30, 2020 and December 31, 2019: 

  

    September 30,
2020		     December 31,
2019		  
Land   $ 50,759     $ 49,887  
Building and improvements     297,068       286,280  
Tenant improvements     49,423       49,431  
Construction in progress     77,116       84,399  
      474,366       469,997  
Less accumulated deprecation     (97,883 )     (90,173 )
      376,483       379,824  
Property held for sale     4,232       7,966  
Total   $ 380,715     $ 387,790
Schedule of gain (loss) on sale or write-down of assets

The gain (loss) on sale or write-down of assets for the three and nine months ended September 30, 2020 and September 30, 2019:

 

      For the Three Months Ended September 30,     For the Nine Months Ended September 30,  
      2020     2019     2020     2019  
Land(1)     $ 5,771     $ 5,139     $ 15,248     $ 9,872  
Residential Properties(2)       3,704       —       3,704       (80 )
Commercial Properties(3)       4,609       —       4,609       —  
Other(4)       1,241       —       1,241       —  
      $ 15,325     $ 5,139     $ 24,802     $ 9,792  

 

(1) Includes the sale of lots related to our investment in Windmill Farms, Mercer Crossing and other land holdings.
(2) On September 14, 2020, we sold Bridgeview Plaza, a 122,205 square foot retail center in La Crosse, Wisconsin for $5,250, resulting in a gain on sale of $4,744. The proceeds from the sale were used to pay off the $3,375 mortgage note payable on the property (See Note 10 – Mortgages and Notes Payable) and for general corporate purposes.
(3) On May 1, 2020, we sold Villager Apartments, a 33 unit multifamily apartment community in Pensacola, Florida for $2,426, resulting in a gain on sale of $898. The sales price was funded by the issuance of a $1,761 note receivable and the assumption of the $665 mortgage note payable on the property (See Note 10 – Mortgages and Notes Payable). On July 16, 2020, we sold Farnham Park Apartments, 144 unit multifamily apartment community in Port Arthur, Texas for $13,300, resulting in a gain on the sale of $2,684. The sales price was funded by cash payment of $4,215 and the assumption of the $9,085 mortgage note payable on the property (See Note 10 – Mortgages and Notes Payable).
(4) Includes the write-off of development costs.