10. Real Estate

We provide build-to-suit services for our clients and also develop or purchase certain projects which we intend to sell to institutional investors upon project completion or redevelopment. Therefore, we have ownership of real estate until such projects are sold or otherwise disposed. Certain real estate assets secure the outstanding balances of underlying mortgage or construction loans. Our real estate is reported in our Development Services and Global Investment Management segments and consisted of the following (dollars in thousands):


	Land		Buildings and Improvements			Other			Total
	At December 31, 2014
Real estate included in assets held for sale (see Note 9)	$	109	$	248		$	3,483		$	3,840
Real estate under development (non-current)		4,244		386			—			4,630
Real estate held for investment		17,916		19,051			162			37,129

Total real estate	$	22,269	$	19,685	(1)	$	3,645	(2)	$	45,599


	At December 31, 2013
Real estate under development (current)	$	667	$	18,466		$	—		$	19,133
Real estate under development (non-current)		822		—			—			822
Real estate held for investment		24,717		76,932			5,350			106,999

Total real estate	$	26,206	$	95,398	(1)	$	5,350	(2)	$	126,954

(1)	Net of accumulated depreciation of $12.3 million and $23.6 million at December 31, 2014 and 2013, respectively.

(2)

Includes lease intangibles of $3.6 million at December 31, 2014 and lease intangibles and tenant origination costs of $5.3 million and $0.1 million, respectively, at December 31, 2013. We record lease intangibles and tenant origination costs upon acquiring real estate projects with in-place leases. The balances are shown net of amortization, which is recorded as an increase to, or a reduction of, rental income for lease intangibles and as amortization expense for tenant origination costs.

During the year ended December 31, 2014, we recorded a provision for loss on real estate held for sale of $1.9 million within our Development Services segment. In addition, during the year ended December 31, 2012, we recorded impairment charges of $17.2 million on real estate held for investment within our Development Services segment. During the year ended December 31, 2012, we also recorded an impairment charge of $9.3 million on real estate held for investment within our Global Investment Management segment. See Note 4 for additional information.

The estimated costs to complete one consolidated real estate project under development as of December 31, 2014 totaled approximately $32.9 million. At December 31, 2014, we had no commitments for the sale of our projects.

Rental revenues (which are included in revenue) and expenses (which are included in operating, administrative and other expenses) relating to our operational real estate properties, excluding those reported as discontinued operations, were $14.3 million and $6.8 million, respectively, for the year ended December 31, 2014, $24.3 million and $11.7 million, respectively, for the year ended December 31, 2013 and $55.6 million and $35.5 million, respectively, for the year ended December 31, 2012, and were included in the accompanying consolidated statements of operations within our Development Services and Global Investment Management segments.