Quarterly report pursuant to Section 13 or 15(d)

Real Estate Facilities (Tables)

v3.19.3
Real Estate Facilities (Tables)
9 Months Ended
Sep. 30, 2019
Real Estate Properties [Line Items]  
Activity In Real Estate Facilities

Buildings and

Accumulated

Land

Improvements

Depreciation

Total

Balances at December 31, 2018 (1)

$

762,731 

$

2,157,407 

$

(1,097,748)

$

1,822,390 

Acquisition of real estate facility

75,160 

40,765 

115,925 

Capital expenditures

26,536 

26,536 

Disposals (2)

(11,643)

11,643 

Depreciation and amortization expense

(70,896)

(70,896)

Transfer to properties held for sale

(899)

4,055 

3,156 

Balances at September 30, 2019

$

837,891 

$

2,212,166 

$

(1,152,946)

$

1,897,111 

____________________________

(1)Land, building and improvements, and accumulated depreciation, respectively, totaling $53.9 million, $217.5 million and $143.3 million were reclassified as of December 31, 2018 to “properties held for sale, net” representing 1.3 million rentable square feet of flex and office business parks located in Rockville and Silver Spring, Maryland.

(2)Disposals primarily represent the book value of tenant improvements that have been removed upon the customer vacating their space.

Summary Of Real Estate Assets Acquired And Liabilities Assumed

2019

2018

Land

$

75,160 

$

25,806 

Buildings and improvements

40,765 

112,230 

Other assets (above-market in-place rents)

1,487 

Accrued and other liabilities (below-market in-place rents)

(1,142)

(1,790)

Other assets (in-place lease value)

3,371 

6,033 

Total purchase price

118,154 

143,766 

Net operating assets acquired and liabilities assumed

(463)

(1,367)

Total cash paid

$

117,691 

$

142,399 

JV Partner [Member]  
Real Estate Properties [Line Items]  
Summary Of Real Estate Assets Acquired And Liabilities Assumed

2018

Land

$

21,814 

Buildings and improvements

84,903 

Other assets (in-place lease value)

1,199 

Total consolidated joint venture

107,916 

Noncontrolling interest in consolidated joint venture

(4,032)

Net book value of joint venture at consolidation

$

103,884