Property

6 Months Ended

Jun. 30, 2011

Property

Property

Note 9. Property

Our property consisted of the following (in thousands):

	June 30, 2011		December 31, 2010
Land	$	956,449	$	925,497
Land held for development		157,179		170,213
Land under development		15,418		22,967
Buildings and improvements		3,658,921		3,610,889
Construction in-progress		39,407		48,228
Total	$	4,827,374	$	4,777,794

The following carrying charges were capitalized (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Interest	$	317	$	869	$	654	$	1,992
Real estate taxes		72		64		83		219
Total	$	389	$	933	$	737	$	2,211

During the six months ended June 30, 2011, we invested $42.9 million in the acquisition of two operating properties and $5.9 million in new development projects. We also, acquired our partner's 50% unconsolidated joint venture interest in a Florida development property, which increased property by $32.8 million.

During the six months ended June 30, 2011, we sold two retail properties, an industrial property, a retail building and five undeveloped land parcels with aggregate gross sales proceeds from these dispositions totaling $44.8 million.

Impairment charges, as described in Note 1, of $2.6 million and $3.8 million were recognized for the three and six months ended June 30, 2011, respectively, resulting from a change in anticipated holding periods. No impairment was recorded for the three months ended June 30, 2010, and $.3 million was recognized for the six months ended June 30, 2010.