The following table presents operating real estate, net (dollars in thousands): | | | | | | | | | | | | | | | | | June 30, 2022 (Unaudited) | | December 31, 2021 | Land | | $ | 121,518 | | | $ | 121,518 | | Land improvements | | 18,027 | | | 17,798 | | Buildings and improvements | | 961,506 | | | 965,630 | | Tenant improvements | | 251 | | | — | | Construction in progress | | 7,842 | | | 8,141 | | Furniture, fixtures and equipment | | 87,461 | | | 84,813 | | Subtotal | | $ | 1,196,605 | | | $ | 1,197,900 | | Less: Accumulated depreciation | | (244,596) | | | (225,301) | | Operating real estate, net | | $ | 952,009 | | | $ | 972,599 | |
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