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Marketable Securities
 12 Months Ended
Dec. 31, 2019
Marketable Securities [Abstract]  
Marketable Securities
Marketable Securities
Our portfolio of marketable securities is comprised of equity securities that are presented on our consolidated balance sheets at fair value. Our marketable securities are accounted for in accordance with ASC Topic 321, Investments - Equity Securities ("ASC 321"), which requires changes in the fair value of our marketable securities to be recorded in current period earnings. Changes in the fair value are recorded to "interest and other investment income, net" on our consolidated statements of income (see Note 17 - Interest and Other Investment Income, Net).
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 gain (mark-to-market increase), which is included in "interest and other investment income, net" on our consolidated statements of income for the year ended December 31, 2019.
5.
Marketable Securities - continued
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 321. Prior to the Conversion Date, we accounted for our investment under the equity method. For the year ended December 31, 2019 we recorded a decrease of $21,649,000 in the value of our investment based on PREIT's year ended closing share price, which is included in "interest and other investment income, net" on our consolidated statements of income.
On January 23, 2020, we sold all of our 6,250,000 common shares of PREIT, realizing net proceeds of $28,375,000. A $4,938,000 loss (mark-to-market decrease) will be recorded in the first quarter of 2020.

The table below summarizes the changes of our marketable securities portfolio for the years ended December 31, 2019 and 2018.
(Amounts in thousands)
 
 
Total
 
Lexington
 
PREIT
 
Other
Balance as of December 31, 2017
$
182,752

 
$
178,226

 
$
—

 
$
4,526

(Decrease) increase in fair value of marketable securities
(26,453
)
 
(26,596
)
 
—

 
143

Sale of marketable securities
(4,101
)
 
—

 
—

 
(4,101
)
Balance as of 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
(5,533
)
 
16,068

 
(21,649
)
 
48

Balance as of December 31, 2019
$
33,313

 
$
—

 
$
33,313

 
$
—