Property

Our property consists of the following (in thousands):



	June 30, 2015		December 31, 2014
Land	$	895,470	$	821,614
Land held for development	102,808		103,349
Land under development	21,057		24,297
Buildings and improvements	3,121,046		3,061,616
Construction in-progress	73,287		65,218
Total	$	4,213,668	$	4,076,094

During the six months ended June 30, 2015, we sold six centers and other property. Aggregate gross sales proceeds from these transactions approximated $49.9 million and generated gains of approximately $30.7 million. Also, during the six months ended June 30, 2015, we acquired three centers with an aggregate gross purchase price of approximately $145.6 million and invested $15.5 million in new development projects.

At June 30, 2015, one center, totaling $13.8 million before accumulated depreciation, was classified as held for sale. At December 31, 2014, one center, totaling $9.4 million before accumulated depreciation, was classified as held for sale. Neither of these centers qualified to be reported as discontinued operations and each was sold subsequent to the applicable reporting period.