Real Estate Activity |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Real Estate [Abstract] | Ìý | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Real Estate Activity |
Real Estate Activity
As of JuneÌý30, 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 JuneÌý30, 2019 and DecemberÌý31, 2018.
Land Sales
For the six months ended JuneÌý30, 2019, the Trust sold approximately 21,909 acres (13,180 acres in Loving County, 5,598 acres in Culberson County, 1,651 acres in Hudspeth County, 843 acres in Reeves County, 636 acres in Midland County and approximately 1 acre in Glasscock County) of land in Texas for an aggregate sales price of approximately $108.4 million, with an average of approximately $4,948 per acre.
For the six months ended JuneÌý30, 2018, the Trust sold approximately 120 acres (80 acres in Culberson County and 40 acres in Loving County) of 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 six months ended JuneÌý30, 2019, the Trust acquired approximately 21,671 acres (Culberson, Glasscock, Loving and Reeves Counties) of land in Texas for an aggregate purchase price of approximately $74.4 million, with an average of approximately $3,434 per acre.
For the six months ended JuneÌý30, 2018, the Trust acquired approximately 2,884 acres (Mitchell and Upton County) of land in Texas for an aggregate purchase price of approximately $2.7 million, with an average of approximately $924 per acre.
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