Investment in Real Estate

3 Months Ended

Mar. 31, 2015

A schedule of our gross investment in real estate follows:



	March 31, 2015						December 31, 2014
(amounts in millions)	Land		Building and Improvements		Equipment		Land		Building and Improvements		Equipment
West Seventh St., Cincinnati, OH (7th Street)	$	0.9	$	110.5	$	13.9	$	0.9	$	110.6	$	12.7
Parkway Dr., Mason, OH (Mason)	—		20.3		0.9		—		20.2		0.9
Industrial Rd., Florence, KY (Florence)	2.2		41.4		3.0		2.2		41.4		3.0
Goldcoast Dr., Cincinnati, OH (Goldcoast)	0.6		6.7		0.1		0.6		6.7		0.1
Knightsbridge Dr., Hamilton, OH (Hamilton)	—		49.2		3.8		—		49.2		3.7
E. Monroe St., South Bend, IN (Monroe St.)	—		2.5		0.1		—		2.5		0.1
Springer St., Lombard, IL (Lombard)	0.7		4.7		6.8		0.7		4.7		5.7
Crescent Circle, South Bend, IN (Blackthorn)	—		3.3		0.1		—		3.3		0.1
Kingsview Dr., Lebanon, OH (Lebanon)	4.0		77.2		5.4		4.0		77.0		5.5
McAuley Place, Blue Ash, OH (Blue Ash)	—		0.6		0.1		—		0.6		0.1
Westway Park Blvd., Houston, TX (Houston West 1)	1.4		84.7		44.0		1.4		84.4		43.8
Westway Park Blvd., Houston, TX (Houston West 2)	2.0		22.5		45.3		2.0		22.5		45.1
Westway Park Blvd., Houston, TX (Houston West 3)	18.4		4.2		0.6		18.4		—		—
Southwest Fwy., Houston, TX (Galleria)	—		68.6		15.2		—		68.6		15.0
E. Ben White Blvd., Austin, TX (Austin 1)	—		14.3		1.0		—		22.5		1.2
S. State Highway 121 Business, Lewisville, TX (Lewisville)	—		76.6		23.1		—		76.7		22.8
Marsh Lane, Carrollton, TX (Marsh Ln)	—		0.1		0.5		—		0.1		0.5
Midway Rd., Carrollton, TX (Midway)	—		2.0		0.4		—		2.0		0.4
W. Frankford Rd., Carrollton, TX (Carrollton)	16.1		52.0		87.1		16.1		51.6		85.3
Bryan St., Dallas, TX (Bryan St)	—		0.1		0.2		—		0.1		0.2
North Freeway, Houston, TX (Greenspoint)	—		—		—		—		1.3		—
South Ellis Street, Chandler, AZ (Phoenix 1)	14.8		56.6		44.2		14.8		56.4		43.9
South Ellis Street, Chandler, AZ (Phoenix 2)	—		16.2		21.6		—		13.2		21.8
Westover Hills Blvd., San Antonio, TX (San Antonio 1)	4.6		32.1		32.4		4.6		32.1		32.4
Westover Hills Blvd., San Antonio, TX (San Antonio 2)	7.0		—		—		7.0		—		—
Metropolis Dr., Austin, TX (Austin 2)	2.0		23.2		4.1		2.0		23.2		4.0
Kestral Way (London)	—		31.3		0.7		—		32.7		0.7
Jurong East (Singapore)	—		8.6		0.1		—		9.0		0.1
Ridgetop Circle, Sterling, VA (Northern Virginia)	7.0		11.3		28.0		7.0		—		—
Metropolis Dr., Austin, TX (Austin 3)	8.0		—		—		8.0		—		—
Metropolis Dr. Austin, TX (Austin 4)	3.3		—		—		—		—		—
Total	$	93.0	$	820.8	$	382.7	$	89.7	$	812.6	$	349.1

Construction in progress was $121.0 million and $127.0 million as of March 31, 2015 and December 31, 2014, respectively. We continue to have high amounts of construction in progress as we continue to build data center facilities.

During 2015, we are continuing to invest in the development of real estate property. Our development has included the completion of additional square footage and power in our Phoenix 2, Houston West 3, and Northern Virginia data centers, and the purchase of Austin 4 in February of 2015. The total purchase price of the Austin 4 facility was $17.3 million, of which $3.3 million was allocated to land and the remaining amount remains in construction in process as of March 31, 2015.

Impairment is recorded when the Company's net book value of real estate assets is greater than the estimated fair value. For the quarter ended March 31, 2015, we recognized an impairment of $8.6 million related to the exit of Austin 1, which is a leased facility. The effective date of our lease termination is March 31, 2016. The decrease in fair value results from the various assets that we will no longer be able to use once we exit this facility.

CyrusOne LP 10-Q