| Activity In Real Estate Facilities |
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Buildings and |
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Accumulated |
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Land |
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Improvements |
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Depreciation |
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Total |
Balances at December 31, 2018 (1) |
$ |
762,731 |
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$ |
2,157,407 |
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$ |
(1,097,748) |
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$ |
1,822,390 |
Acquisition of real estate facility |
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75,160 |
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40,765 |
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— |
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115,925 |
Capital expenditures |
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— |
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26,536 |
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— |
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26,536 |
Disposals (2) |
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— |
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(11,643) |
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11,643 |
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— |
Depreciation and amortization expense |
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— |
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— |
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(70,896) |
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(70,896) |
Transfer to properties held for sale |
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— |
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(899) |
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4,055 |
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|
3,156 |
Balances at September 30, 2019 |
$ |
837,891 |
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$ |
2,212,166 |
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$ |
(1,152,946) |
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$ |
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.
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| Summary Of Real Estate Assets Acquired And Liabilities Assumed |
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2019 |
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2018 |
Land |
$ |
75,160 |
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$ |
25,806 |
Buildings and improvements |
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40,765 |
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|
112,230 |
Other assets (above-market in-place rents) |
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— |
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|
1,487 |
Accrued and other liabilities (below-market in-place rents) |
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(1,142) |
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(1,790) |
Other assets (in-place lease value) |
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3,371 |
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|
6,033 |
Total purchase price |
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118,154 |
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|
143,766 |
Net operating assets acquired and liabilities assumed |
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(463) |
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(1,367) |
Total cash paid |
$ |
117,691 |
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$ |
142,399 |
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| Summary Of Real Estate Assets Acquired And Liabilities Assumed |
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2018 |
Land |
$ |
21,814 |
Buildings and improvements |
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84,903 |
Other assets (in-place lease value) |
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1,199 |
Total consolidated joint venture |
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107,916 |
Noncontrolling interest in consolidated joint venture |
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(4,032) |
Net book value of joint venture at consolidation |
$ |
103,884 |
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