Real Estate Activities (Tables)

6 Months Ended

Jun. 30, 2022

Real Estate [Abstract]

Investments in Real Estate

Investments in real estate as of June 30, 2022 and December 31, 2021 were comprised of the following:

(in thousands of dollars)	June 30, 2022			December 31, 2021
Buildings, improvements and construction in progress	$	2,741,664		$	2,762,675
Land, including land held for development		421,983			443,686
Total investments in real estate		3,163,647			3,206,361
Accumulated depreciation		(1,443,004	)		(1,405,260	)
Net investments in real estate	$	1,720,643		$	1,801,101

Schedule of Capitalized Salaries, Commissions and Benefits, Real Estate Taxes and Interest

The following table summarizes our capitalized interest, compensation, including commissions, and real estate taxes for the three and six months ended June 30, 2022 and 2021:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands of dollars)	2022		2021		2022		2021
Development/Redevelopment Activities:
Interest (1)	$	21	$	17	$	45	$	147
Compensation		—		25		45		62
Real estate taxes		—		29		—		58
Leasing Activities:
Compensation, including commissions (2)		72		27		101		27

(1) Includes interest capitalized on investments in partnerships under development.

(2) The definition of initial direct costs under ASC 842 includes only those incremental costs of a lease that would not have been incurred if the lease had not been obtained. Commissions paid for successful leasing transactions continue to be capitalized.