Investments in Real Estate

3 Months Ended

Mar. 31, 2015

Real Estate Investments, Net [Abstract]

The Partnership's real estate, net, consists of the following at March 31, 2015 and December 31, 2014:



	March 31, 2015			December 31, 2014
Real estate, at cost:
Buildings and building improvements	$	554,333		$	552,994
Land, land estates and land improvements	347,290			347,290
Fixtures and equipment	84			84
Construction in progress	11,952			9,745
Real estate intangibles:
In-place lease values	141,653			141,653
Tenant relationships	20,256			20,256
Above-market leases	4,031			4,031
	1,079,599			1,076,053
Accumulated depreciation and amortization⁽¹⁾	(232,994		)	(226,084		)
Real estate, net	$	846,605		$	849,969


(1)	Includes accumulated amortization of real estate intangible assets of $51,396 and $49,917 in 2015 and 2014, respectively.

In addition, the Partnership had below-market leases, net of accumulated accretion, which are included in deferred revenue, of $120 and $247, respectively, as of March 31, 2015 and December 31, 2014.

Sales of Real Estate and Discontinued Operations

The Partnership did not have any property dispositions during the three months ended March 31, 2015.

The following table presents the operating results for properties disposed of during 2014:



	Three Months Ended March 31, 2014
Total gross revenues	$	866
Pre-tax net income	$	382

- Definition

The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.

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LEPERCQ CORPORATE INCOME FUND L P 10-Q