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Property Acquisitions
 3 Months Ended
Mar. 31, 2021
Business Combinations [Abstract]  
Property Acquisitions Property Acquisitions
The following table summarizes the properties acquired during the three months ended March 31, 2021:
PropertyAcquisition DateProperty TypeApproximate Square Feet
Gross Asset Valuation
(in millions)
885 Third Avenue (1)
January 2021Fee Interest625,000 $387.9 
(1)In January 2021, pursuant to the partnership documents of our 885 Third Avenue investment, certain participating rights of the common member expired. As a result, it was determined that this investment is a VIE of which we are the primary beneficiary, and the investment was consolidated in our financial statements. Upon consolidating the entity, the assets and liabilities of the entity were recorded at fair value. Prior to January 2021, the investment was accounted for under the equity method. See Note 6, "Investments in Unconsolidated Joint Ventures" and Note 16, "Fair Value Measurements."