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Quarterly report pursuant to Section 13 or 15(d)

Real Estate Activity

v3.10.0.1
Real Estate Activity
9 Months Ended
Sep. 30, 2018
Real Estate [Abstract] Ìý
Real Estate Activity
Real Estate Activity

Land Sales

No value has been assigned to the land held by the Trust other than parcels which have been acquired through foreclosure and a limited number of parcels which have been acquired. Consequently, no allowance for depletion is computed, and no charge to income is made, with respect thereto, and no cost is deducted from the proceeds of the land sales in computing gain or loss thereon.

During the nine months ended SeptemberÌý30, 2018 and 2017, we completed the following sales of land parcels (in thousands, except number of acres):
Date of sale
Ìý
Location
Ìý
Approximate number of acres sold
Ìý
Contract sale price
For the nine months ended September 30, 2018
Ìý
Ìý
Ìý
Ìý
February 2018
Ìý
Loving County
Ìý
40.0
Ìý
$
1,150

March 2018
Ìý
Culberson County
Ìý
80.0
Ìý
1,600

August 2018
Ìý
El Paso County
Ìý
15.0
Ìý
270

September 2018
Ìý
Reeves County
Ìý
31.8
Ìý
1,273

Total
Ìý
Ìý
Ìý
166.8
Ìý
$
4,293

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
For the nine months ended September 30, 2017
Ìý
Ìý
Ìý
Ìý
May 2017
Ìý
Loving County
Ìý
11.02

Ìý
$
220

Total
Ìý
Ìý
Ìý
11.02

Ìý
$
220

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý

Real Estate Acquired

Real estate acquired included the following activity for the nine months ended SeptemberÌý30, 2018 and 2017 (in thousands, except number of acres):

Ìý
Ìý
Nine Months Ended
September 30, 2018
Ìý
Nine Months Ended
September 30, 2017
Ìý
Ìý
Acres
Ìý
Book Value
Ìý
Acres
Ìý
Book Value
Balance at January 1,
Ìý
10,064.78

Ìý
$
1,115

Ìý
10,064.78

Ìý
$
1,115

Acquisitions
Ìý
2,883.68

Ìý
2,663

Ìý
—

Ìý
—

Sales
Ìý
—

Ìý
—

Ìý
—

Ìý
—

Balance at September 30,
Ìý
12,948.46

Ìý
$
3,778

Ìý
10,064.78

Ìý
$
1,115

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý