Investments in Properties

12 Months Ended

Dec. 31, 2021

Investments in Properties

Investments in Properties

6. Investments in Properties

A summary of our investments in properties is below (in thousands):

Property Type	As of December 31, 2021		As of December 31, 2020
Land	$	1,019,723	$	1,106,392
Acquired ground lease		6,721		10,308
Buildings and improvements		21,914,091		21,335,396
Tenant improvements		684,915		690,892
		23,625,450		23,142,988
Accumulated depreciation and amortization		(6,210,281)		(5,555,221)
Investments in operating properties, net		17,415,169		17,587,767
Construction in progress and space held for development		3,213,389		2,768,325
Land held for future development		133,683		226,862
Investments in properties, net	$	20,762,241	$	20,582,954