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Real Estate and Operating Real Estate (Tables)
 6 Months Ended
Jun. 30, 2018
Real Estate [Abstract]  
Schedule of Real Estate Properties
Operating real estate, which consists of our wholly owned domestic self-storage operations and a majority ownership in one hotel, at cost, is summarized as follows (in thousands):
 
June 30, 2018
 
December 31, 2017
Land
$
90,560

 
$
90,042

Buildings and improvements
254,520

 
250,730

Real estate under construction (a)
3,630

 
—

Less: Accumulated depreciation
(29,977
)
 
(26,087
)
 
$
318,733

 
$
314,685

__________
(a)
Primarily represents restoration costs on our hotel property, which was impacted by Hurricane Irma as noted below.

Real estate, which consists of land and buildings leased to others, at cost, and which are subject to operating leases, is summarized as follows (in thousands):
 
June 30, 2018
 
December 31, 2017
Land
$
557,277

 
$
567,113

Buildings and improvements
2,175,385

 
2,200,901

Real estate under construction (a)
27,958

 
4,597

Less: Accumulated depreciation
(377,967
)
 
(354,668
)
 
$
2,382,653

 
$
2,417,943


__________
(a)
Amount as of June 30, 2018 includes accrued capitalized costs of $13.3 million.
Summary of Property Held for Sale
Below is a summary of our properties held for sale (in thousands):
 
June 30, 2018 (a)
 
December 31, 2017
Land, buildings and improvements, net
$
3,189

 
$
—

Assets held for sale, net
$
3,189

 
$
—