Quarterly report pursuant to Section 13 or 15(d)

Real Estate (Tables)

v3.8.0.1
Real Estate (Tables)
3 Months Ended
Mar. 31, 2018
Real Estate [Abstract]  
Schedule of Real Estate Property Acquired
We acquired the following property during the 2018 Quarter (the “2018 acquisition”):
Acquisition Date
 
Property
 
Type
 
Net Rentable
Square Feet
 
Contract Purchase Price (In thousands)
January 18, 2018
 
Arlington Tower
 
Office
 
396,000
 
$
250,000

Revenue and Earnings From Acquisition
The results of operations from the 2018 acquisition are included in the consolidated statements of income from the acquisition date and are as follows (in thousands):
 
Three Months Ended March 31, 2018
Real estate rental revenue
$
4,635

Net income
640

Total Purchase Price Of Acquisitions
We have recorded the total cost of the 2018 acquisition as follows (in thousands):
Land
$
63,970

Building
142,900

Tenant origination costs
13,625

Leasing commissions/absorption costs
27,465

Lease intangible assets
3,142

Lease intangible liabilities
(545
)
Total
$
250,557

Schedule of Properties Sold
We sold our interests in the following properties in 2018 and 2017:
Disposition Date
 
Property Name
 
Segment
 
Rentable Square Feet/ Number of Units
 
Contract
Sales  Price
(in thousands)
 
Gain on Sale
(in thousands)
January 19, 2018
 
Braddock Metro Center
 
Office
 
356,000
 
$
93,000

 
$

 
 
 
 
 
 
 
 
 
 
 
October 23, 2017
 
Walker House Apartments
 
Multifamily
 
212
 
$
32,200

 
$
23,838