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Real Estate Investments
 6 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Real Estate Investments Real Estate Investments
2023 Acquisition Activity
The following table details the Company's real estate acquisition activity for the six months ended June 30, 2023:
Dollars in thousandsDATE ACQUIREDPURCHASE PRICE
CASH
CONSIDERATION 1
REAL
ESTATE
OTHER 2
SQUARE FOOTAGE
Tampa, FL3/10/23$31,500 $30,499 $30,596 $(97)115,867 
1Cash consideration excludes prorations of revenue and expense due to/from seller at the time of the acquisition.
2Includes other assets acquired, liabilities assumed, and intangibles recognized at acquisition.

In the second quarter of 2023, the Company entered into a joint venture agreement for the development of a medical office building in Scottsdale, Arizona. The Company holds a 90% interest in the joint venture and determined the arrangement meets the criteria to be consolidated. The joint venture acquired an $8.8 million land parcel to be developed with the Company contributing cash of $8.3 million.

Subsequent to June 30, 2023, the Company acquired the following property:
Dollars in thousandsDATE ACQUIREDPURCHASE PRICESQUARE FOOTAGE
Colorado Springs, CO7/28/23$11,450 42,770 


Unconsolidated Joint Ventures
The Company's investment in and loss recognized for the three and six months ended June 30, 2023 and 2022 related to its unconsolidated joint ventures accounted for under the equity method are shown in the table below:
THREE MONTHS ENDED
June 30,		SIX MONTHS ENDED
June 30,
Dollars in thousands2023202220232022
Investments in unconsolidated joint ventures, beginning of period $327,746 $211,195 $327,248 $161,942 
New investment during the period 1
— — 3,824 49,599 
Equity loss recognized during the period (17)(307)(797)(652)
Owner distributions(484)(107)(3,030)(108)
Investments in unconsolidated joint ventures, end of period $327,245 $210,781 $327,245 $210,781 

1In 2023, this was an additional investment in an existing joint venture in which the Company owns a 40% ownership interest. The investment consisted of a sale of a property in Dallas, Texas to the joint venture. See 2023 Real Estate Asset Dispositions below for additional information.
2023 Real Estate Asset Dispositions
The following table details the Company's dispositions for the six months ended June 30, 2023:
Dollars in thousandsDATE DISPOSEDSALE PRICECLOSING ADJUSTMENTSCOMPANY-FINANCED MORTGAGE NOTESNET PROCEEDSNET REAL ESTATE INVESTMENT
OTHER (INCLUDING RECEIVABLES) 1
GAIN/(IMPAIRMENT)SQUARE FOOTAGE
Tampa, FL & Miami, FL2
1/12/23$93,250 $(5,875)$— $87,375 $87,302 $(888)$961 224,037 
Dallas, TX 3
1/30/2319,210 (141)— 19,069 18,986 43 40 36,691 
St. Louis, MO2/10/23350 (18)— 332 398 — (66)6,500 
Los Angeles, CA3/23/2321,000 (526)— 20,474 20,610 52 (188)37,165 
Los Angeles, CA 4
3/30/2375,000 (8,079)(45,000)21,921 88,624 (803)(20,900)147,078 
Los Angeles, CA 5
5/12/233,300 (334)— 2,966 3,268 — (302)— 
Albany, NY6/30/2310,000 (1,229)— 8,771 2,613 (1,040)7,198 40,870 
Total dispositions$222,110 $(16,202)$(45,000)$160,908 $221,801 $(2,636)$(13,257)492,341 
1Includes straight-line rent receivables, leasing commissions and lease inducements.
2Includes two properties, sold in two separate transactions to the same buyer on the same date.
3The Company sold this property to a joint venture in which it retained a 40% interest. Sales price and square footage reflect the total sales price paid by the joint venture and total square footage of the property.
4The Company entered into a mortgage note agreement with the buyer for $45 million.
5The Company sold a land parcel totaling 0.34 acres.
Subsequent to June 30, 2023, the Company disposed of the following property:
Dollars in thousandsDATE DISPOSEDSALES PRICESQUARE FOOTAGE
Houston, TX8/2/23$8,320 57,170 
Assets Held for Sale
The Company had three properties classified as assets held for sale as of June 30, 2023. The net real estate assets held for sale includes $3.6 million of impairment charges for the six months ended June 30, 2023. The Company had one property classified as assets held for sale as of December 31, 2022, which was sold in the first quarter of 2023. The table below reflects the assets and liabilities classified as held for sale as of June 30, 2023 and December 31, 2022:
Dollars in thousandsJune 30, 2023December 31, 2022
Balance Sheet data:
Land$205 $1,700 
Building and improvements1,736 15,164 
Lease intangibles2,242 1,986 
4,183 18,850 
Accumulated depreciation(4,183)— 
Real estate assets held for sale, net— 18,850 
Other assets, net151 43 
Assets held for sale, net$151 $18,893 
Accounts payable and accrued liabilities$222 $282 
Other liabilities— 155 
Liabilities of assets held for sale$222 $437