Real Estate Assets

3 Months Ended

Feb. 28, 2019

3. Real Estate Assets

Real estate assets consist of:


	Estimated
	Useful Lives	Feb. 28, 2019		Nov. 30, 2018
Land		$	21,961	$	21,961
Land improvements	10 to 30 years		38,291		38,280
Buildings and improvements	10 to 40 years		204,288		204,258
Tenant improvements	Shorter of useful life or terms of related lease		29,161		29,163
Machinery and equipment	3 to 20 years		10,958		10,958
Construction in progress			3,388		562
Development costs			13,484		13,443
			321,531		318,625
Accumulated depreciation			(107,595)		(105,004)
		$	213,936	$	213,621

Total depreciation expense and capitalized interest related to real estate assets were as follows:

Real estate assets held for sale consist of:


	Feb. 28, 2019		Nov. 30, 2018
Land	$	851	$	1,645
Development costs		1,007		1,007
	$	1,858	$	2,652

The decrease in real estate assets held for sale in the 2019 first quarter reflected $809 related to a property sale that closed partially offset by $15 that was reclassified from real estate assets to real estate assets held for sale related to that sale.

For the Three Months Ended

Feb. 28, 2019

Feb. 28, 2018

Depreciation expense

Capitalized interest