As of September 30, 2026 and December 31, 2025, the gross carrying value of the Properties, reflected in the line item “Operating properties” in the Company's consolidated balance sheets, was as follows (in thousands):


	September 30, 2026		December 31, 2025
Land	$	344,482	$	337,459
Building and improvements	2,498,908		2,925,483
Tenant improvements	457,461		490,838


Total	$	3,300,851	$	3,753,780

During the three months ended September 30, 2026, the Company sold a 100,820 square foot office building located in the Pennsylvania Suburbs segment to an unaffiliated third party for a sales price of $41.5 million. Upon the completion of the sale, the Company recorded a $13.5 million gain during the third quarter.

During the three months ended September 30, 2026, the Company sold a 205,803 square foot office building and its above ground parking garage located in the Austin, Texas segment to an unaffiliated third party for a sales price of $151.0 million. Upon the completion of the sale, the Company recognized a $41.3 million gain during the third quarter.

During the three months ended September 30, 2026, the Company sold two office buildings totaling 468,279 square feet and a parking garage, located in the Other segment to an unaffiliated third party for a sales price of $97.1 million. Upon the completion of the sale, the Company recognized a $0.9 million gain during the third quarter.

During the three months ended September 30, 2026, the Company sold a 441,000 square foot office property located in the Pennsylvania Central Business District segment to an unaffiliated third party for a sales price of $240.0 million. Prior to the sale and during the three months ended September 30, 2026, the Company recognized a provision for impairment of $29.1 million on the property based upon the executed agreement of sale.

For the quarter ended September 30, 2026, the Company did not recognize any held-for-use impairment losses.