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Real Estate Activity | 9 Months Ended
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Sep. 30, 2021
Real Estate [Abstract] |
Real Estate Activity | Real Estate Activity Below is a summary of our real estate as of September 30, 2021 and December 31, 2020:
| September 30, 2021 |  | December 31, 2020
Land | $ | 42,625 |  |  | $ | 50,759 |
Building and improvements | 225,375 |  |  | 297,644 |
Tenant improvements | 21,364 |  |  | 30,935 |
Construction in progress | 71,044 |  |  | 77,891 |
Total cost | 360,408 |  |  | 457,229 |
Less accumulated deprecation | (60,725) |  |  | (82,418) |
Total real estate, net | 299,683 |  |  | 374,811 |
Property held for sale | 332 |  |  | 2,572 |
Total real estate | $ | 300,015 |  |  | $ | 377,383 |
The gain on sale or write-down of assets, net for the three and nine months ended September 30, 2021 and 2020 consist of the following:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Land(1) | $ | 4,042 |  |  | $ | 5,774 |  |  | $ | 15,153 |  |  | $ | 15,248 |
Multifamily Properties(2) | — |  |  | 3,704 |  |  | 11,441 |  |  | 3,704 |
Commercial Properties(3) | 27,270 |  |  | 4,609 |  |  | 27,270 |  |  | 4,609 |
Other(4) | — |  |  | 1,238 |  |  | (29,599) |  |  | 1,241 |
| $ | 31,312 |  |  | $ | 15,325 |  |  | $ | 24,265 |  |  | $ | 24,802 |
(1)Includes the gain on sale of lots related to our investment in Windmill Farms, Mercer Crossing and other land holdings. (2)Includes the gain from the sale of a 50% ownership interest in Overlook at Allensville Phase II (See Note 9 – Investment in Unconsolidated Joint Ventures) and the gain on the sale of various multifamily properties that had previously been deferred (See Note 14 – Deferred Income). (3)On August 26, 2021, we sold 600 Las Colinas, a 512,173 square foot office building in Irving, Texas for $74,750, resulting in gain on sale of $27,270. We used the proceeds to pay down the mortgage note payable on the property (See 10 - Mortgages and Other Notes Payable) and for general corporate purposes. On May 1, 2020, we sold Villager Apartments, a 33 unit multifamily property 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 a $665 mortgage note payable on the property. On July 16, 2020, we sold Farnham Park Apartments, 144 unit multifamily property 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. (4)Includes a $29,600 l oss on the remeasurement of the Earn Out Obligation in connection with our investment in VAA (See Note 9 - Investment in Unconsolidated Joint Ventures).

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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