Rental Properties, Net

12 Months Ended

Dec. 31, 2019

Real Estate [Abstract]

Rental Properties, Net

NOTE 5 - RENTAL PROPERTIES, NET

The Company’s investments in rental properties consisted of the following (in thousands):

	December 31, 2019			December 31, 2018
Land	$	119,028		$	119,028
Building and improvements		720,420			716,839
Furniture, fixtures and equipment		25,906			23,903
Construction in progress		1,955			490
		867,309			860,260
Less: accumulated depreciation		(131,779	)		(92,522	)
	$	735,530		$	767,738
Assets held for sale - rental properties		-			42,863
	$	735,530		$	810,601

Depreciation expense for the years ended December 31, 2019 and 2018 was $39.6 million and $40.6 million, respectively.