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
 6 Months Ended
Jun. 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:
 
 
June 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
146,136

 
(35,921
)
 
110,215

 
142,558

 
(29,053
)
 
113,505

Furniture, fixtures and equipment
28,605

 
(19,633
)
 
8,972

 
25,984

 
(17,189
)
 
8,795

Capital leases - equipment
17,454

 
(3,192
)
 
14,262

 
12,752

 
(1,970
)
 
10,782

Construction in progress
4,422

 
—

 
4,422

 
4,501

 
—

 
4,501

Total Investments in Real Estate
$
286,941

 
$
(58,746
)
 
$
228,195

 
$
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.