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INVESTMENTS IN REAL ESTATE
 6 Months Ended
Jun. 30, 2014
INVESTMENTS IN REAL ESTATE  
INVESTMENTS IN REAL ESTATE

5. INVESTMENTS IN REAL ESTATE

        Investments in real estate consist of the following:

 
   June 30,
2014		   December 31,
2013		  
 
   (in thousands)
  

Land

   $ 347,693   $ 331,060  

Land improvements

     27,884     27,536  

Buildings and improvements

     1,486,103     1,454,854  

Furniture, fixtures, and equipment

     23,332     23,051  

Tenant improvements

     191,451     183,915  

Work in progress

     12,137     9,987  
           
​ ​ ​ ​ ​ ​ ​ ​

 

     2,088,600     2,030,403  

Accumulated depreciation

     (377,090 )   (348,238 )
           
​ ​ ​ ​ ​ ​ ​ ​

Net investments in real estate

   $ 1,711,510   $ 1,682,165  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​