| Summary of carrying amounts for real estate owned (at cost) |
The following table summarizes the carrying amounts for our real estate owned (at cost) as of June 30, 2026 and December 31, 2025 (dollars in thousands): | | | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | Land | | $ | 2,501,856 | | $ | 2,537,747 | Depreciable property — held and used: | | | | | | | Land improvements | | | 278,312 | | | 277,996 | Building, improvements, and furniture, fixtures and equipment | | | 13,312,057 | | | 13,577,262 | Real estate intangible assets | | | 21,995 | | | 21,995 | Under development: | | | | | | | Land and land improvements | | | 18,704 | | | 13,468 | Building, improvements, and furniture, fixtures and equipment | | | 128,913 | | | 59,417 | Real estate held for disposition: | | | | | | | Land and land improvements | | | 22,339 | | | — | Building, improvements, and furniture, fixtures and equipment | | | 111,709 | | | — | Real estate owned | | | 16,395,885 | | | 16,487,885 | Accumulated depreciation | | | (7,518,827) | | | (7,374,546) | Real estate owned, net | | $ | 8,877,058 | | $ | 9,113,339 |
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