Investments in Properties

12 Months Ended

Dec. 31, 2022

Investments in Properties

Investments in Properties

6. Investments in Properties

A summary of our investments in properties is below (in thousands):

Property Type	As of December 31, 2022		As of December 31, 2021
Land	$	1,061,408	$	1,019,723
Acquired ground lease		6,006		6,721
Buildings and improvements		24,287,103		21,914,091
Tenant improvements		781,540		684,915
		26,136,057		23,625,450
Accumulated depreciation and amortization		(7,268,981)		(6,210,281)
Investments in operating properties, net		18,867,076		17,415,169
Construction in progress and space held for development		4,789,134		3,213,389
Land held for future development		118,452		133,683
Investments in properties, net	$	23,774,662	$	20,762,241