Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN REAL ESTATE, NET OF ACCUMULATED DEPRECIATION

v3.4.0.3
INVESTMENTS IN REAL ESTATE, NET OF ACCUMULATED DEPRECIATION
 3 Months Ended
Mar. 31, 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:
 
 
March 31, 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
143,319

 
(32,201
)
 
111,118

 
142,558

 
(29,053
)
 
113,505

Furniture, fixtures and equipment
27,566

 
(18,320
)
 
9,246

 
25,984

 
(17,189
)
 
8,795

Capital leases - equipment
13,464

 
(2,530
)
 
10,934

 
12,752

 
(1,970
)
 
10,782

Construction in progress
3,708

 
—

 
3,708

 
4,501

 
—

 
4,501

Total Investments in Real Estate
$
278,381

 
$
(53,051
)
 
$
225,330

 
$
276,119

 
$
(48,212
)
 
$
227,907



In January 2016, the lease on a golf property in Oregon expired and the Golf business exited the property.