Investments in Real Estate

12 Months Ended

Dec. 31, 2019

For the year ended December 31, 2019, our investments had an aggregate purchase price of $560.5 million. As part of these investments, we incurred approximately $2.5 million of capitalized costs. The allocations for these investments, in which we own a controlling financial interest, are set forth below in the aggregate for the years ended December 31, 2019, 2018 and 2017, respectively (in thousands):



	Year Ended December 31,
	2019			2018			2017
Land	$	108,709		$	1,895		$	100,922
Building and improvements	396,660			14,458			2,358,771
In place leases	51,629			1,237			190,020
Below market leases	(5,187		)	(201		)	(27,849		)
Above market leases	3,487			—			12,180
Below market leasehold interests	—			—			54,252
Above market leasehold interests	—			—			(8,978		)
Net assets acquired	555,298			17,389			2,679,318
Other, net ⁽¹⁾	5,158			447			60,913
Aggregate purchase price	$	560,456		$	17,836		$	2,740,231

(1) Other, net, consisted primarily of tenant improvements and capital expenditures received as credits at the time of acquisition.

The acquired intangible assets and liabilities referenced above had weighted average lives of the following terms for the years ended December 31, 2019, 2018 and 2017, respectively (in years):



	Year Ended December 31,
	2019	2018	2017
Acquired intangible assets	5.7	5.8	20.2
Acquired intangible liabilities	7.0	6.5	19.7