The following table summarizes the Company’s investment in real estate, at cost as of:


	December 31, 2022		December 31, 2021
Land	$	1,397,714	$	1,313,385
Building and improvements	6,273,655		6,241,254
Tenant and leasehold improvements	868,193		786,991
Furniture and fixtures	9,639		14,020
Property under development	167,371		5,827
INVESTMENT IN REAL ESTATE, AT COST	$	8,716,572	$	8,361,477

On April 27, 2022, the Company completed its previously announced acquisition of Washington 1000, a fully entitled office development site in Seattle, Washington for a total purchase price of $85.6 million, before certain credits, prorations and closing costs.

On May 19, 2022, the Company purchased a parcel of land at Sunset Gower Studios that was previously encumbered by a ground lease for a total purchase price of $22.0 million, before certain credits, prorations and closing costs.

On July 15, 2022, the Company purchased 5801 Bobby Foster Road, approximately 29 acres of land with an office/warehouse located in Albuquerque, New Mexico, for the storage of trailers and other rental assets used to serve the surrounding studio production industry. The property was acquired for a total purchase price of $8.0 million, before certain credits, prorations and closing costs.


	Washington 1000		Sunset Gower Studios Land		5801 Bobby Foster Road
TOTAL ACQUISITION COST(1)	$	86,313	$	22,156	$	8,457

Relative fair value allocation
Land	$	59,987	$	22,156	$	2,189
Building and improvements	11,053		—		6,268
Parking easement(2)	15,273		—		—
TOTAL	$	86,313	$	22,156	$	8,457

2.Parking easement has an indefinite useful life and is recorded in deferred leasing costs and intangible assets, net on the Consolidated Balance Sheet.

On December 23, 2021, the Company purchased the 197,136 square-foot 5th & Bell office property located in Seattle, Washington. The purchase price before certain credits, prorations and closing costs was $118.9 million.



TOTAL ACQUISITION COST(1)	$	118,907

Relative fair value allocation
Investment in real estate	$	102,939
Deferred leasing costs and in-place lease intangibles(2)(3)	10,443
Below-market ground leases(2)(3)	10,844
Below-market leases(3)(4)	(5,319)
TOTAL	$	118,907

3.The weighted-average amortization period of these intangible assets and liabilities is 9.4 years (before any renewal or extension options).

During the years ended December 31, 2022 and 2021, the Company recorded $13.0 million and $2.8 million, respectively, of impairment charges related to the tangible assets of its Del Amo office property due to a reduction in the estimated fair value of the property. The estimated fair values of $2.8 million and $17.4 million as of the respective measurement dates were based on the sales price and the then-estimated sales price of the property, respectively. These fair value measurements are classified within Level 2 of the fair value hierarchy. The property was sold in August 2022.

During the year ended December 31, 2022, the Company recorded $1.5 million of impairment charges related to the tangible assets of its Northview Center office property due to a reduction in the estimated fair value of the property. The property was sold in August 2022. The estimated fair value of $46.0 million was based on the sales price of the property, which is classified within Level 2 of the fair value hierarchy.

During the year ended December 31, 2022, the Company recorded $3.1 million of impairment charges related to the tangible assets of its 6922 Hollywood office property due to a reduction in the estimated fair value of the property. The property was sold in October 2022. The estimated fair value of $96.0 million was based on the sales price of the property, which is classified within Level 2 of the fair value hierarchy.

The following table summarizes information on dispositions completed during the year ended December 31, 2022. The Company did not complete any dispositions related to consolidated entities during the years ended December 31, 2021 and 2020.


Property	Segment	Date of Disposition	Square Feet	Sales Price(1) (in millions)
Del Amo	Office	8/5/2022	113,000	$	2.8
Northview	Office	8/30/2022	179,985	46.0
6922 Hollywood	Office	10/20/2022	205,189	96.0
TOTAL DISPOSITIONS IN 2022			498,174	$	144.8

These properties were considered non-strategic to the Company’s portfolio. The disposition of these properties resulted in a loss of $2.2 million for the year ended December 31, 2022. This amount is included in the loss on sale of real estate line item on the Consolidated Statement of Operations.

The Company had one and four properties classified as held for sale as of December 31, 2022 and December 31, 2021, respectively. The properties were identified as non-strategic assets to the Company’s portfolio. The following table summarizes information on properties classified as held for sale as of December 31, 2022 and 2021:

Property

Segment

Submarket

Square Feet

Status as of December 31, 2022

Status as of December 31, 2021

Skyway Landing

Office

Redwood Shores

246,997

Held for Sale(1)

Held for Sale

Del Amo

Office

Torrance

113,000

Sold

Held for Sale

Northview

Office

Lynnwood

179,985

Sold

Held for Sale

6922 Hollywood

Office

Hollywood

205,189

Sold

Held for Sale


	Skyway Landing
ASSETS
Investment in real estate, net	$	92,148
Accounts receivable, net	112
Straight-line rent receivables, net	460
Deferred leasing costs and intangible assets, net	501

Prepaid expenses and other assets, net	17
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE	$	93,238

LIABILITIES
Accounts payable, accrued liabilities and other	$	400
Security deposits and prepaid rent	265
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE	$	665


	Northview Center		Skyway Landing		Del Amo		6922 Hollywood
ASSETS
Investment in real estate, net	$	40,338	$	89,873	$	15,213	$	91,353
Accounts receivable, net	95		142		—		103
Straight-line rent receivables, net	901		1,659		—		4,714
Deferred leasing costs and intangible assets, net	751		450		2,742		1,999

Prepaid expenses and other assets, net	—		—		—		187
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE	$	42,085	$	92,124	$	17,955	$	98,356

LIABILITIES
Accounts payable, accrued liabilities and other	$	184	$	273	$	12	$	1,372

Intangible liabilities, net	—		—		—		96
Security deposits and prepaid rent	395		1,205		—		361
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE	$	579	$	1,478	$	12	$	1,829