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INVESTMENTS IN REAL ESTATE
 12 Months Ended
Dec. 31, 2016
Real Estate [Abstract]  
INVESTMENTS IN REAL ESTATE
INVESTMENTS IN REAL ESTATE

Investments in real estate consist of the following:

 
December 31,
 
2016
 
2015
 
(in thousands)
Land
$
343,564

 
$
363,612

Land improvements
26,177

 
26,747

Buildings and improvements
1,475,415

 
1,506,962

Furniture, fixtures, and equipment
4,955

 
9,720

Tenant improvements
159,677

 
146,205

Work in progress
11,706

 
8,126

Investments in real estate
2,021,494

 
2,061,372

Accumulated depreciation
(414,552
)
 
(369,661
)
Net investments in real estate
$
1,606,942

 
$
1,691,711



For the years ended December 31, 2016, 2015, and 2014, we recorded depreciation expense of $62,239,000, $61,915,000, and $58,635,000, respectively.