Real Estate Activity |
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| Real Estate [Abstract] | Ìý | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Real Estate Activity |
Real Estate Activity
As of MarchÌý31, 2019 and DecemberÌý31, 2018, the Trust owned the following land and real estate (in thousands, except number of acres):
No valuation allowance was necessary at MarchÌý31, 2019 and DecemberÌý31, 2018.
Land Sales
For the three months ended MarchÌý31, 2019, the Trust sold approximately 21,251 acres (13,180 acres in Loving County, 5,598 acres in Culberson County, 1,651 acres in Hudspeth County and 822 acres in Reeves County) of the Trust’s Assigned land in Texas for an aggregate sales price of approximately $103.6 million, with an average of approximately $4,876 per acre.
For the three months ended MarchÌý31, 2018, the Trust sold approximately 120 acres (80 acres in Culberson County and 40 acres in Loving County) of the Trust’s Assigned land in Texas for an aggregate sales price of approximately $2.8 million, with an average of approximately $22,917 per acre.
Land Acquisitions
For the three months ended MarchÌý31, 2019, the Trust acquired approximately 11,702 acres (Culberson and Reeves Counties) of land in Texas for an aggregate purchase price of approximately $47.2 million, with an average of approximately $4,033 per acre.
For the three months ended MarchÌý31, 2018, the Trust acquired approximately 641 acres (all in Upton County) of land in Texas for an aggregate purchase price of approximately $0.8 million, with an average of approximately $1,171 per acre.
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