Quarterly report [Sections 13 or 15(d)]

Real Estate Activity

v3.25.2
Real Estate Activity
6 Months Ended
Jun. 30, 2025
Real Estate [Abstract]  
Real Estate Activity Real Estate Activity
As of June 30, 2025 and December 31, 2024, we owned the following land and real estate (in thousands, except number of acres):
June 30,
2025
December 31,
2024
Number of Acres Net Book Value Number of Acres Net Book Value
Land (surface rights) (1)
798,643  $ —  798,643  $ — 
Real estate acquired 75,280  147,683  74,493  143,178 
Total real estate 873,923  $ 147,683  873,136  $ 143,178 
(1)Real estate assigned through the Declaration of Trust.
For the six months ended June 30, 2025, we acquired 787 acres of land for an aggregate purchase price of $4.5 million. For the six months ended June 30, 2024, we acquired 640 acres of land for an aggregate purchase price of $1.0 million. There were no land sales for the six months ended June 30, 2025. For the six months ended June 30, 2024, we sold 41 acres of land in Texas for an aggregate sales price of $1.2 million.