Property

6 Months Ended

Jun. 30, 2020

Real Estate [Abstract]

Property

Note 3. Property

Our property consists of the following (in thousands):

	June 30,		December 31,
	2020		2019
Land	$	934,629	$	911,521
Land held for development		41,078		40,667
Land under development		22,777		53,076
Buildings and improvements		3,016,131		2,898,867
Construction in-progress		187,722		241,118
Total	$	4,202,337	$	4,145,249

During the six months ended June 30, 2020, we sold two centers and other property. Aggregate gross sales proceeds from these transactions approximated $33.5 million and generated gains of approximately $21.5 million. Also, during the six months ended June 30, 2020, we acquired one grocery-anchored shopping center and other property with an aggregate gross purchase price of approximately $43.0 million, and we invested $49.2 million in new development projects.

At June 30, 2020, we classified one real estate center, totaling $25.9 million before accumulated depreciation, as held for sale, which was sold subsequent to quarter-end. At December 31, 2019, no real estate centers were classified as held for sale.