Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN REAL ESTATE, NET OF ACCUMULATED DEPRECIATION

v3.5.0.2
INVESTMENTS IN REAL ESTATE, NET OF ACCUMULATED DEPRECIATION
 9 Months Ended
Sep. 30, 2016
Real Estate [Abstract]  
INVESTMENTS IN REAL ESTATE, NET OF ACCUMULATED DEPRECATION
INVESTMENTS IN REAL ESTATE, NET OF ACCUMULATED DEPRECIATION

The following table summarizes Newcastle’s investments in real estate related to its Golf business:
 
 
September 30, 2016
 
December 31, 2015
 
Gross Carrying Amount
 
Accumulated Depreciation
 
Net Carrying Value
 
Gross Carrying Amount
 
Accumulated Depreciation
 
Net Carrying Value
Land
$
90,324

 
$
—

 
$
90,324

 
$
90,324

 
$
—

 
$
90,324

Buildings and improvements
149,310

 
(39,957
)
 
109,353

 
142,558

 
(29,053
)
 
113,505

Furniture, fixtures and equipment
29,613

 
(20,736
)
 
8,877

 
25,984

 
(17,189
)
 
8,795

Capital leases - equipment
19,741

 
(3,982
)
 
15,759

 
12,752

 
(1,970
)
 
10,782

Construction in progress
3,014

 
—

 
3,014

 
4,501

 
—

 
4,501

Total Investments in Real Estate
$
292,002

 
$
(64,675
)
 
$
227,327

 
$
276,119

 
$
(48,212
)
 
$
227,907



In January 2016, the lease on a golf property in Oregon expired and the Golf business did not renew the lease for such property.

In July 2016, the lease on a golf property in California was terminated and the Golf business exited the property.