Annual report pursuant to Section 13 and 15(d)

Properties, Net (Tables)

v3.22.4
Properties, Net (Tables)
 12 Months Ended
Dec. 31, 2022
Real Estate [Abstract]  
Schedule of operating properties, net
We depreciate our fixed assets using the straight-line method over their estimated useful lives as follows:
Estimated Useful Lives
Buildings and building improvements
10-40 years
Land improvements
10-20 years
Tenant improvements on operating properties Shorter of remaining useful lives of assets or related lease term
Equipment and personal property
3-10 years
Operating properties, net, excluding properties held for sale, consisted of the following (in thousands): 
December 31,
2022 2021
Land $ 539,809  $ 572,900 
Buildings and improvements 3,986,524  3,670,133 
Less: Accumulated depreciation (1,267,434) (1,152,523)
Operating properties, net $ 3,258,899  $ 3,090,510 
Disclosure of Long Lived Assets Held-for-sale
The table below sets forth the components of assets classified as held for sale on our consolidated balance sheets (in thousands):
December 31,
2022 2021
Properties, net $ 156,691  $ 191,857 
Deferred rent receivable 4,595  462 
Deferred leasing costs, net —  307 
Intangible assets on property acquisitions, net —  73 
Assets held for sale, net $ 161,286  $ 192,699 
Disposal Groups, Including Discontinued Operations The table below sets forth the property’s results of operations included in discontinued operations on our consolidated statements of operations and its operating and investing cash flows included on our consolidated statements of cash flows (in thousands):
  For the Years Ended December 31,
  2022 2021 2020
Revenues from real estate operations $ 1,980  $ 30,490  $ 27,011 
Property operating expenses (971) (16,842) (13,044)
Depreciation and amortization associated with real estate operations —  (10,290) (11,690)
Gain on sale of real estate 28,564  —  — 
Discontinued operations 29,573  3,358  2,277 
Cash flows from operating activities $ 5,757  $ 10,930  $ 16,051 
Cash flows from investing activities $ 220,565  $ (1,912) $ (11,485)