Real Estate Investments

12 Months Ended

Dec. 31, 2019

Real estate investments, net, represent investments in 42 rental properties and the corporate headquarters building and is summarized as follows:



	December 31, 2019			December 31, 2018
	(in thousands)
Land and improvements	$	2,552,285		$	2,552,475
Building and improvements	5,749,211			5,762,071
Total real estate investments	8,301,496			8,314,546
Less accumulated depreciation	(1,200,941		)	(983,086		)
Real estate investments, net	$	7,100,555		$	7,331,460

On June 30, 2019, the Resorts Casino Tunica property was closed by the Company's tenant, resulting in the acceleration of $10.3 million of depreciation expense related to the building at this property. The net book value of this building is zero at December 31, 2019. The Company entered into an agreement to terminate the long-term ground lease for this property, which will be effective in February 2020, at which time such ground lease will be removed from the Penn Master Lease.