ACQUISITIONS AND DISPOSITIONS (Tables)

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Schedule of Assets Sold and Held for Sale

The following is the detail of the carrying amounts of assets and liabilities

at the time of the sales of the properties that occurred during the three months ended March 31, 2019:

	(in thousands)
Assets
Investments in real estate, net	$	270,910
Deferred rent receivable and charges, net	32,284
Other intangible assets, net	316
Total assets	$	303,510
Liabilities
Debt, net (1) (2)	$	278,777
Total liabilities	$	278,777

(1) Debt, net is presented net of deferred loan costs of $1,417,000 and accumulated amortization of $494,000.

(2) A mortgage loan with an outstanding principal balance of $28,200,000 was assumed by the buyer in connection with the sale of our property in San Francisco, California. A mortgage loan with an outstanding principal balance of $46,000,000 was prepaid in connection with the sale in March 2019 of our property in Washington, D.C. that was collateral for the loan. Mortgage loans with an aggregate outstanding principal balance of $205,500,000 were legally defeased in connection with the sale of the March Oakland Properties that were collateral for the loans.

We sold 100% fee-simple interests in the following properties to unrelated third-parties during the three months ended March 31, 2019. Transaction costs related to these sales were expensed as incurred.

Property	Asset Type	Date of Sale	Square Feet	Sales Price		Transaction Costs		Gain on Sale
				(in thousands)
March Oakland Properties, Oakland, CA (1)	Office / Parking Garage	March 1, 2019	975,596	$	512,016	$	8,971	$	289,779
830 1st Street, Washington, D.C.	Office	March 1, 2019	247,337	116,550		2,438		45,710
260 Townsend Street, San Francisco, CA	Office	March 14, 2019	66,682	66,000		2,539		42,092
				$	694,566	$	13,948	$	377,581

(1) The "March Oakland Properties" consist of 1901 Harrison Street, 2100 Franklin Street, 2101 Webster Street, and 2353 Webster Street Parking Garage.