Real Estate (Tables)

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Schedule of operating properties and land parcels

Information on the Operating Properties and land parcels the Company acquired during the three months and six months ended June 30, 2019 is as follows:

	Three Months Ended June 30, 2019						Six Months Ended June 30, 2019
	Number of Buildings	Acres of Developable Land		Leaseable Square Feet	Purchase Price (in thousands)		Number of Buildings	Acres of Developable Land	Leaseable Square Feet	Purchase Price (in thousands)
Dallas	—	—	—	—	$	—	2	—	509,733	$	44,400
Southern California	—	—		—	—		1	—	289,683	31,285
United Kingdom	—	—		—	—		—	25.0	—	2,658
Other:
Atlanta	—	—		—	—		—	154.7	—	5,000
New Jersey	1	—		218,000	26,500		3	—	488,254	78,275
	1	—		218,000	$	26,500	6	179.7	1,287,670	$	161,618

In the three months ended June 30, 2019, the Company purchased the noncontrolling interest of two consolidated joint ventures, comprising four buildings in the Company's Philadelphia reportable segment, for $17.8 million. In the six months ended June 30, 2019, the Company purchased the noncontrolling interest of three consolidated joint ventures in the following reportable segments: four buildings in Philadelphia, one building in New Jersey, one building in Dallas and one building in Southern California as well as 21.7 acres of land in Arizona, for $18.5 million.

Information on the Operating Properties and land parcels the Company sold during the three and six months ended June 30, 2019 is as follows:

	Three Months Ended June 30, 2019					Six Months Ended June 30, 2019
	Number of Buildings	Acres of Developable Land	Leaseable Square Feet	Gross Proceeds (in thousands)		Number of Buildings	Acres of Developable Land	Leaseable Square Feet	Gross Proceeds (in thousands)
Chicago/Minneapolis	—	11.3	—	$	2,865	—	11.3	—	$	2,865
Florida	—	—	—	—		3	—	150,751	23,400
Houston	—	4.0	—	1,505		—	4.0	—	1,505
Philadelphia	1	—	153,242	99,250		1	—	153,242	99,250
Southeastern PA	3	18.0	74,180	10,200		3	18.0	74,180	10,200
Other:
Arizona	—	8.8	—	11,500		—	8.8	—	11,500
New Jersey	—	—	—	—		—	0.8	—	4,000
DC Metro	—	—	—	—		1	—	146,472	61,750
	4	42.1	227,422	$	125,320	8	42.9	524,645	$	214,470

In connection with the sale of a building in the Philadelphia reportable segment in June 2019 the Company repaid a $35.9 million 4.84% mortgage loan due 2033 encumbering the property and, consequently, recognized a loss of $7.6 million on early extinguishment of debt, which is reported in discontinued operations.

In addition to the operating properties and land parcels sold as described above, the Company recognized a gain on sale of $2.0 million during the three and six months ended June 30, 2019 from the sale of non-depreciable assets in Camden, New Jersey located in the Company's Philadelphia reportable segment.