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Marketable Securities
 9 Months Ended
Sep. 30, 2019
Marketable Securities [Abstract]  
Marketable Securities Marketable Securities
Lexington Realty Trust ("Lexington") (NYSE: LXP)
On March 1, 2019, we sold all of our 18,468,969 common shares of Lexington, realizing net proceeds of $167,698,000. We recorded a $16,068,000 mark-to-market increase in the fair value of our common shares for the period from January 1, 2019 through the date of sale, which is included in "interest and other investment income, net" on our consolidated statements of income for the nine months ended September 30, 2019.
Pennsylvania Real Estate Investment Trust (“PREIT”) (NYSE: PEI)
On March 12, 2019 (the "Conversion Date"), we converted all of our 6,250,000 PREIT operating partnership units into common shares and began accounting for our investment as a marketable security in accordance with ASC Topic 321, Investments - Equity Securities ("ASC 321"). Prior to the Conversion Date, we accounted for our investment under the equity method. For the three and nine months ended September 30, 2019, we recorded a decrease of $4,875,000 and $19,211,000, respectively, in the value of our investment based on PREIT's September 30, 2019 quarter ended closing share price, which is included in "interest and other investment income, net" on our consolidated statements of income.
The table below summarizes the changes to our marketable securities portfolio for the nine months ended September 30, 2019.
(Amounts in thousands)
 
For the Nine Months Ended September 30, 2019
 
 
Total
 
Lexington Realty Trust
 
PREIT
 
Other
Beginning balance, December 31, 2018
 
$
152,198

 
$
151,630

 
$
—

 
$
568

Sale of marketable securities
 
(168,314
)
 
(167,698
)
 
—

 
(616
)
Transfer of PREIT investment balance at Conversion Date
 
54,962

 
—

 
54,962

 
—

(Decrease) increase in fair value of marketable securities(1)
 
(3,095
)
 
16,068

 
(19,211
)
 
48

Ending balance, September 30, 2019
 
$
35,751

 
$
—

 
$
35,751

 
$
—

____________________
(1)
Included in “interest and other investment income, net” on our consolidated statements of income (see Note 18 - Interest and Other Investment Income, Net).