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Investment in Real Estate (Tables)
 12 Months Ended
Dec. 31, 2019
Asset Acquisition [Abstract]  
Schedule of Purchase Price Allocation for Acquisition The contract and purchase prices differ due to prorations and similar adjustments:

(In thousands, except number of units)
The Glendon
 
 
Submarket
West Los Angeles
Acquisition date
June 7, 2019
Contract price
$
365,100

Number of multifamily units
350

Retail square footage
50

 
 
Land
$
32,773

Buildings and improvements
333,624

Tenant improvements and lease intangibles
2,301

Acquired above- and below-market leases, net
(2,114
)
Net assets and liabilities acquired
$
366,584


The table below summarizes the purchase price allocations for the acquisitions. The contract and purchase prices differ due to prorations and similar matters.

(In thousands)
1299 Ocean
 
 429 Santa Monica
 
9665 Wilshire
 
9401 Wilshire(1)
 
 
 
 
 
 
 
 
Submarket
Santa Monica
 
Santa Monica
 
Beverly Hills
 
Beverly Hills
Acquisition date
April 25
 
April 25
 
July 20
 
December 20
Contract price
$
275,800

 
$
77,000

 
$
177,000

 
$
143,647

Building square footage
206
 
87
 
171
 
146
 
 
 
 
 
 
 
 
Investment in real estate:
 
 
 
 
 
 
 
Land
$
22,748

 
$
4,949

 
$
5,568

 
$
6,740

Buildings and improvements
260,188

 
69,286

 
175,960

 
144,467

Tenant improvements and lease intangibles
5,010

 
3,248

 
1,112

 
7,843

Acquired above- and below-market leases, net
(10,683
)
 
(722
)
 
(4,339
)
 
(11,559
)
Assumed debt(2)
—

 
—

 
—

 
(36,460
)
Net assets and liabilities acquired
$
277,263

 
$
76,761

 
$
178,301

 
$
111,031

_____________________________________________________
(1)
We issued OP Units to the seller in connection with the acquisition of 9401 Wilshire. See Note 11 for more information.
(2)
We assumed a loan from the seller in connection with the acquisition of 9401 Wilshire. At the date of acquisition, the loan had a fair value of $36.5 million and a principal balance of $32.3 million. See Note 8 for more information.

(In thousands)
JV Consolidation
 
 
Consolidation date
November 21, 2019
Square footage
1,454

 
 
Land
$
52,272

Buildings and improvements
831,416

Tenant improvements and lease intangibles
40,890

Acquired above- and below-market leases, net
(14,198
)
JV interest in unconsolidated Fund
28,783

Assumed debt
(403,016
)
Assumed interest rate swaps
(4,147
)
Other assets and liabilities, net
26,256

Net assets acquired and liabilities assumed
$
558,256