XML 112 R13.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
REAL ESTATE ASSETS
 12 Months Ended
Dec. 31, 2019
Real Estate [Abstract]  
REAL ESTATE ASSETS REAL ESTATE ASSETS    

In conjunction with Diamondback’s acquisition of Fasken Towers Tall Towers, the Company allocated the $110 million purchase price between real estate assets and intangible lease assets related to in-place and above-market leases. In addition, the Company owns $10 million in office buildings. The following schedules present the cost and related accumulated depreciation or amortization (as applicable) of Diamondback’s real estate assets including intangible lease assets:
 
Estimated Useful Lives
 
December 31,
 
 
2019
 
2018
 
(Years)
 
(in millions)
Buildings
20-30
 
$
102

 
$
103

Tenant improvements
15
 
5

 
4

Land
N/A
 
2

 
1

Land improvements
15
 
1

 
1

Total real estate assets
 
 
110

 
109

Less: accumulated depreciation
 
 
(9
)
 
(4
)
Total investment in land and buildings, net
 
 
$
101

 
$
105


 
Weighted Average Useful Lives
 
December 31,
 
 
2019
 
2018
 
(Months)
 
(in millions)
In-place lease intangibles
45
 
$
11

 
$
11

Less: accumulated amortization
 
 
(6
)
 
(3
)
In-place lease intangibles, net
 
 
5

 
8

Above-market lease intangibles
45
 
4

 
4

Less: accumulated amortization
 
 
(1
)
 
(1
)
Above-market lease intangibles, net
 
 
3

 
3

Total intangible lease assets, net
 
 
$
8

 
$
11