RECENT TRANSACTIONS (Tables)

9 Months Ended

Sep. 30, 2022

Recent Transactions [Abstract]

Schedule Of Real Estate Properties Acquired

The Company acquired the following rental property during the three months ended September 30, 2022 (dollars in thousands):

Acquisition Date	Property	Location	Property Type	# of Apartment Units	Acquisition  Cost
7/21/2022	The James (a)	Park Ridge, NJ	Multifamily	240	$	130,308
Total Acquisitions					$	130,308

(a)    This acquisition was funded using funds available with the Company's qualified intermediary from prior property sales proceeds and through borrowing under the Company's unsecured revolving credit facility.

Schedule Of Properties Commencing Initial Operations

The following property commenced initial operations during the nine months ended September 30, 2022 (dollars in thousands):

In Service Date	Property	Location	Property Type	# of Apartment Units	Total Development  Costs Incurred
04/01/22	Haus25 (a)	Jersey City	Multifamily	750	$	485,128
Totals				750	$	485,128

(a)    As of September 30, 2022, 750 apartment units are currently available for occupancy.

Schedule Of Assets Held For Sale

The following table summarizes the real estate held for sale, net, and other assets and liabilities (dollars in thousands):

	Suburban Office Portfolio		Other Assets & Liabilities Held for Sale		Total
Land	$	4,336	$	139,526	$	143,862
Building & Other	30,388		457,610		487,998
Less: Accumulated depreciation	(12,165)		(145,201)		(157,366)
Less: Cumulative unrealized losses on property held for sale	(4,440)		$	(5,100)	(9,540)
Real estate held for sale, net	$	18,119	$	446,835	$	464,954

Other assets and liabilities	Suburban Office Portfolio		Other Assets & Liabilities Held for Sale		Total
Unbilled rents receivable, net (a)	$	479	$	15,863	$	16,342
Deferred charges, net (a)	554		11,615		12,169
Mortgages & loans payable, net (a) (b)	—		(339,832)		(339,832)
Accounts payable, accrued exp & other liability	(755)		(4,909)		(5,664)
Unearned rents/deferred rental income (a)	—		(3,781)		(3,781)

(a)Expected to be removed with the completion of the sales.

(b)Includes a $250 million mortgage assumed by the purchaser of a property disposed of in October 2022.

Schedule Of Real Estate Properties Sold And Disposed

The Company disposed of the following rental property during the nine months ended September 30, 2022 (dollars in thousands):

Disposition Date	Property	Location	# of Bldgs.	Rentable Square Feet	Property Type	Net Sales Proceeds			Net Carrying Value		Realized Gains  (Losses)  Unrealized Losses, net		Discontinued Operations Realized Gains (Losses)/ Unrealized Losses, net
01/21/22	111 River Street	Hoboken, New Jersey	1	566,215	Office	$	208,268	(a)	$	206,432	$	1,836	$	—
Unrealized gains (losses) on real estate held for sale											(5,100)		(4,440)
Totals			1	566,215		$	208,268		$	206,432	$	(3,264)	$	(4,440)

(a)The mortgage loan encumbering the property was repaid at closing, for which the Company incurred costs of $6.3 million. These costs were expensed as loss from extinguishment of debt during the nine months ended September 30, 2022.

Schedule Of Disposed Developable Land

The Company disposed of the following developable land holdings during the nine months ended September 30, 2022 (dollars in thousands):

Disposition Date	Property	Location	Net Sales Proceeds		Net Carrying Value		Realized Gains (Losses)/ Unrealized Losses, net
03/22/22	Palladium residential land	West Windsor, New Jersey	$	23,908	$	24,182	$	(274)
03/22/22	Palladium commercial land	West Windsor, New Jersey	4,688		1,791		2,897
04/15/22	Port Imperial Park parcel	Weehawken, New Jersey	29,331		29,744		(413)
04/21/22	Urby II/III	Jersey City, New Jersey	68,854		13,316		55,538
Totals			$	126,781	$	69,033	$	57,748