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Real Estate Investments
 9 Months Ended
Sep. 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 nine months ended September 30, 2023:
Dollars in thousandsDATE ACQUIREDPURCHASE PRICEMORTGAGE NOTES PAYABLE, NET
CASH
CONSIDERATION 1
REAL
ESTATE
OTHER 2
SQUARE FOOTAGE
Tampa, FL3/10/23$31,500 $— $30,499 $30,596 $(97)115,867 
Colorado Springs, CO7/28/2311,450 (5,284)6,024 11,416 (108)42,770 
Total real estate acquisitions$42,950 $(5,284)$36,523 $42,012 $(205)158,637 
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 third quarter of 2023, the Company acquired a parcel of land previously under a ground lease for $0.8 million and an additional interest in an operating property for $0.6 million.
Unconsolidated Joint Ventures
The Company's investment in and loss recognized for the three and nine months ended September 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
September 30,		NINE MONTHS ENDED
September 30,
Dollars in thousands2023202220232022
Investments in unconsolidated joint ventures, beginning of period $327,245 $210,781 $327,248 $161,942 
New investment during the period 1
— 117,880 3,824 167,479 
Equity loss recognized during the period (456)(124)(1,253)(776)
Owner distributions(1,336)(785)(4,366)(893)
Investments in unconsolidated joint ventures, end of period $325,453 $327,752 $325,453 $327,752 
1In 2023, this was an additional investment in an existing joint venture in which the Company retained a 40% ownership interest. The investment consisted of the Company's 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 nine months ended September 30, 2023:
Dollars in thousandsDATE DISPOSEDSALE PRICECLOSING ADJUSTMENTSCOMPANY-FINANCED MORTGAGE NOTESNET PROCEEDSNET REAL ESTATE INVESTMENT
OTHER (INCLUDING RECEIVABLES) 1
GAIN/(IMPAIRMENT)SQUARE FOOTAGE
Tampa/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 
Houston, TX8/2/238,320 (285)— 8,035 4,567 194 3,274 57,170 
Atlanta, GA8/22/2325,142 (66)— 25,076 23,226 (536)2,386 55,195 
Dallas, TX9/15/23115,000 (1,504)— 113,496 64,183 6,094 43,219 161,264 
Houston, TX9/18/23250 (24)— 226 1,998 — (1,772)52,040 
Chicago, IL9/27/2359,950 (870)— 59,080 74,710 (380)(15,250)104,912 
Total dispositions$430,772 $(18,951)$(45,000)$366,821 $390,485 $2,736 $18,600 922,922 
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.


Assets Held for Sale
The Company had 17 properties and one corporate entity classified as assets held for sale as of September 30, 2023. The net real estate assets held for sale includes the impact of $15.9 million and $46.4 million, respectively, of impairment charges for the three and nine months ended September 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 September 30, 2023 and December 31, 2022:
Dollars in thousandsSeptember 30, 2023December 31, 2022
Balance Sheet data:
Land$14,282 $1,700 
Building and improvements41,538 15,164 
Lease intangibles12,938 1,986 
68,758 18,850 
Accumulated depreciation(13,634)— 
Real estate assets held for sale, net55,124 18,850 
Operating lease right-of-use assets585 — 
Other assets, net1,929 43 
Assets held for sale, net$57,638 $18,893 
Accounts payable and accrued liabilities$1,716 $282 
Operating lease liabilities1,020 — 
Other liabilities1,078 155 
Liabilities of assets held for sale$3,814 $437