Property

Our property consists of the following (in thousands):



	June 30, 2012		December 31, 2011
Land	$	870,826	$	918,627
Land held for development	126,616		124,528
Land under development	15,545		20,281
Buildings and improvements	3,267,219		3,557,173
Construction in-progress	65,685		67,917
Total	$	4,345,891	$	4,688,526

The following carrying charges were capitalized (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Interest	$	811	$	317	$	1,594	$	654
Real estate taxes	123		72		246		83
Total	$	934	$	389	$	1,840	$	737

During the six months ended June 30, 2012, we acquired two shopping centers and other retail property for approximately $118.3 million.

During the six months ended June 30, 2012, we sold 13 shopping centers, 53 industrial properties and other retail property. We also assigned a 75% consolidated joint venture interest to our partner. Aggregate gross sales proceeds, including the assumption of debt by the buyer, from these transactions totaled $444.1 million and generated gains of $35.4 million.

Also, seven properties totaling $84.0 million and $94.8 million before accumulated depreciation have been classified as held for sale as of June 30, 2012 and December 31, 2011, respectively. See Note 10 for additional information.