PROPERTY AND EQUIPMENT

Operating Properties

Our operating property carrying values at December 31, 2019 consist of land and certain depreciable assets such as buildings, improvements, and furniture and equipment assets relating to MacArthur Place. A summary of these assets, at cost less accumulated depreciation and amortization, as of December 31, 2019 and 2018, follows (in thousands):



	December 31,
	2019			2018
Buildings and improvements	$	32,742		$	13,650
Furniture, fixtures and equipment	5,559			1,087
Computer equipment	1,538			6
Landscape	2,294			—
Total depreciable assets	42,133			14,743
Less accumulated depreciation and amortization	(2,411		)	(855		)
Total depreciable assets, net	39,722			13,888
Land	4,920			4,920
Construction in progress	557			15,058
Property and equipment, net	$	45,199		$	33,866

Our REO and operating property held for sale, and other REO consist of land and certain depreciable assets (prior to being classified as held for sale) such as buildings, improvements, and furniture and equipment assets. At December 31, 2019, the depreciable assets in this category relate exclusively to Broadway Tower. A summary of these assets, at cost less accumulated depreciation and amortization, as of December 31, 2019 and 2018, follows (in thousands):



	December 31,
	2019			2018
Buildings and improvements	$	17,018		$	—
Tenant Improvements	1,509			—
Furniture, fixtures and equipment	199			—
Total depreciable assets	18,726			—
Less accumulated depreciation and amortization	(621		)	—
Total depreciable assets, net	18,105			—
Land	7,400			7,418
Property and equipment, net	$	25,505		$	7,418

Other Property and Equipment

In addition to these assets, the Company owns other property and equipment related primarily to our corporate activities, which consisted of the following at December 31, 2019 and 2018 (in thousands):



	December 31,
	2019			2018
Computer and communications equipment	$	828		$	802
Leasehold improvements	389			389
Furniture and equipment	42			42
Total depreciable assets	1,259			1,233
Less accumulated depreciation and amortization	(954		)	(840		)
Property and equipment, net	$	305		$	393

Depreciation and amortization on REO and corporate property and equipment is computed on a straight-line basis over the estimated useful lives of the related assets, which range from 5 to 29 years. Depreciation and amortization expense recorded for our depreciable assets totaled $2.3 million and $0.9 million for the years ended December 31, 2019 and 2018, respectively.