Real Estate Investments

9 Months Ended

Sep. 30, 2018

Real Estate Investments, Net [Abstract]

REAL ESTATE INVESTMENTS

Real Estate Investments

The major components of real estate investments as of September 30, 2018, and December 31, 2017, are as follows:

	September 30, 2018		December 31, 2017
Land	$	13,262	13,262
Buildings and improvements	43,074		42,951
Subtotal	56,336		56,213
Less: accumulated depreciation and amortization	12,029		11,132
Total	$	44,307	45,081

Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets, ranging from 7 to 39 years.

On April 6, 2017, 444 West Santa Clara Street, L.P. sold all of its interests in the commercial building and land the partnership owned and operated for $11,000. 444 West Santa Clara Street, L.P. recognized a pre-tax gain on sale of real estate investments of $6,323, after selling expenses of $1,157. SJW Land Company holds a 70% limited interest in 444 West Santa Clara Street, L.P. SJW Land Company and the noncontrolling interest recognized a pre-tax gain on sale of real estate investments of $4,427 and $1,896, respectively, on the transaction. In addition, SJW Land Company sold undeveloped land located in San Jose, California for $1,350 on April 6, 2017. SJW Land Company recognized a pre-tax gain on sale of real estate investments of $580 on the transaction, after selling expenses of $14.