(in thousands of dollars)

September 30, 2022

December 31, 2021

Buildings, improvements and construction in progress

$

2,625,825

$

2,762,675

Land, including land held for development

398,414

443,686

Total investments in real estate

3,024,239

3,206,361

Accumulated depreciation

(1,407,395

)

(1,405,260

)

Net investments in real estate

$

1,616,844

$

1,801,101