| 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 September 30, 2026 and December 31, 2025 (dollars in thousands): | | | | | | | | | September 30, | | December 31, | | | 2026 | | 2025 | Land | | $ | 2,522,360 | | $ | 2,537,747 | Depreciable property — held and used: | | | | | | | Land improvements | | | 276,168 | | | 277,996 | Building, improvements, and furniture, fixtures and equipment | | | 13,583,151 | | | 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 | | | 151,687 | | | 59,417 | Real estate held for disposition: | | | | | | | Land and land improvements | | | 11,975 | | | — | Building, improvements, and furniture, fixtures and equipment | | | 42,605 | | | — | Real estate owned | | | 16,628,645 | | | 16,487,885 | Accumulated depreciation | | | (7,545,322) | | | (7,374,546) | Real estate owned, net | | $ | 9,083,323 | | $ | 9,113,339 |
|