ACQUISITIONS AND DISPOSITIONS (Tables)

12 Months Ended

Dec. 31, 2015

2015

Acquisitions

Schedule of acquisitions

	Asset	Date of		Purchase
Property	Type	Acquisition	Square Feet	Price
				(in thousands)
2 Kaiser Plaza, Oakland, CA	Surface parking lot	August 26, 2015	44,642	$	11,143

Schedule of assets sold to third party

	Asset	Date of		Sales			Gain on
Property	Type	Sale	Square Feet	Price			Sale
				(in thousands)
500 West Santa Ana Boulevard, Santa Ana, CA	Office	November 19, 2015	37,116	$	8,050	$	3,092

2014

Acquisitions

Schedule of acquisitions

Acquisitions during 2014, funded with proceeds from drawdowns on our unsecured credit facilities, consisted of the following:

	Asset	Date of	Number	Rentable	Purchase
Property	Type	Acquisition	of Buildings	Square Feet	Price
					(in thousands)
4750 Wilshire Boulevard, Los Angeles, CA (1)	Office	April 18, 2014	1	143,361	$	44,936
Lindblade Media Center, Los Angeles, CA (2)	Office	October 21, 2014	3	32,428	$	18,500

(1) 100% fee-simple interest in an office building built in 1984 and renovated in 2014, located in the Mid-Wilshire submarket of Los Angeles, California.

(2) 100% fee-simple interest in a portfolio of creative office buildings located in the West Los Angeles submarket of Los Angeles, California.  Two of the buildings were built in 1930 and the third was built in 1957. The buildings were renovated in 2010.

Acquisitions from 2013 to 2015

Acquisitions

Schedule of the fair value of the assets acquired and liabilities assumed

	Year Ended December 31,
	2015 (1)		2014 (1)		2013 (1)
	(in thousands)
Land	$	10,931	$	22,975	$	15,662
Land improvements		110		535		436
Buildings and improvements		—		38,821		20,256
Tenant improvements		—		1,197		—
Furniture, fixtures, and equipment		—		—		2,481
Advance bookings		—		—		251
Working capital		—		—		1,014
Acquired in-place leases (2)		102		2,396		—
Acquired below-market leases (3)		—		(2,488)		—
Note receivable		—		—		(40,100)
Net assets acquired	$	11,143	$	63,436	$	—

(1) The purchase price of the acquisitions and the LAX Holiday Inn foreclosure completed during the years ended December 31, 2015, 2014 and 2013, respectively, were individually less than 5% and in aggregate less than 10% of our total assets as of December 31, 2015, 2014 and 2013, respectively.

(2) In‑place leases have a weighted average amortization period of 3.0 years and 5.1 years for the 2015 and 2014 acquisitions, respectively.

(3) Below‑market leases have a weighted average amortization period of 5.0 years for the 2014 acquisitions.