as approximately 161 acres of undeveloped land and a 12-acre container storage facility in Houston.
The total price was $89.7 million and was financed in part through assumption of secured debt that had a fair value of $34.3 million.
Of the total purchase price, $64.1 million was allocated to in-service real estate assets, $20.0 million was allocated to undeveloped land and the container storage facility, $5.4 million was allocated to lease related intangible assets, and the remaining amount was allocated to acquired working capital related assets and liabilities.
The results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements.
In February 2007, we completed the acquisition of Bremner Healthcare Real Estate (“Bremner”), a national health care development and management firm.
The primary reason for the acquisition was to expand our development capabilities within the health care real estate market.
The initial consideration paid to the sellers totaled $47.1 million, and the sellers may be eligible for further contingent payments over a three-year period following the acquisition.
Approximately $39.0 million of the total purchase price was allocated to goodwill, which is attributable to the value of Bremner’s overall development capabilities and its in-place workforce.
The results of operations for Bremner since the date of acquisition have been included in continuing operations in our consolidated financial statements.
In February 2006, we acquired the majority of a Washington, D. C.  metropolitan area portfolio of suburban office and light industrial properties (the “Mark Winkler Portfolio”).
The assets acquired for a purchase price of approximately $867.6 million were comprised of 32 in-service properties with approximately 2.9 million square feet for rental, 166 acres of undeveloped land, as well as certain related assets of the Mark Winkler Company, a real estate management company.
The acquisition was financed primarily through assumed mortgage loans and new borrowings.
The assets acquired and liabilities assumed were recorded at their estimated fair value at the date of acquisition, as summarized below (in thousands):
## Table 0 ##
In December 2006, we contributed 23 of these in-service properties acquired from the Mark Winkler Portfolio with a basis of $381.6 million representing real estate investments and acquired lease related intangible assets to two new unconsolidated subsidiaries.
Of the remaining nine in-service properties, eight were contributed to these two unconsolidated subsidiaries in 2007 and one remains in continuing operations as of December 31, 2008.
The eight properties contributed in 2007 had a basis of $298.4 million representing real estate investments and acquired lease related intangible assets, and debt secured by these properties of $146.4 million was also assumed by the unconsolidated subsidiaries.
In the third quarter of 2006, we finalized the purchase of a portfolio of industrial real estate properties in Savannah, Georgia.
We completed a majority of the purchase in January 2006.
The assets acquired for a purchase price of approximately $196.2 million were comprised of 18 buildings with approximately 5.1 million square feet for rental as well as over 60 acres of undeveloped land.
The acquisition was financed in part through assumed mortgage loans.
The results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements
THE GOLDMAN SACHS GROUP, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements Impact of Credit Spreads on Loans and Lending Commitments The estimated net gain attributable to changes in instrument-specific credit spreads on loans and lending commitments for which the fair value option was elected was $268 million for 2017, $281 million for 2016 and $751 million for 2015.
The firm generally calculates the fair value of loans and lending commitments for which the fair value option is elected by discounting future cash flows at a rate which incorporates the instrument-specific credit spreads.
For floating-rate loans and lending commitments, substantially all changes in fair value are attributable to changes in instrument-specific credit spreads, whereas for fixed-rate loans and lending commitments, changes in fair value are also attributable to changes in interest rates.
Debt Valuation Adjustment The firm calculates the fair value of financial liabilities for which the fair value option is elected by discounting future cash flows at a rate which incorporates the firm’s credit spreads.
The table below presents details about the net DVA losses on such financial liabilities.
## Table 1 ##
In the table above: ‰ DVA (net of tax) is included in debt valuation adjustment in the consolidated statements of comprehensive income.
‰ The gains/(losses) reclassified to earnings from accumulated other comprehensive loss upon extinguishment of such financial liabilities were not material for both 2017 and 2016.
Note 9.
Loans Receivable Loans receivable consists of loans held for investment that are accounted for at amortized cost net of allowance for loan losses.
Interest on loans receivable is recognized over the life of the loan and is recorded on an accrual basis.
The table below presents details about loans receivable.
## Table 2 ##
As of December 2017 and December 2016, the fair value of loans receivable was $66.29 billion and $49.80 billion, respectively.
Had these loans been carried at fair value and included in the fair value hierarchy, $38.75 billion and $28.40 billion would have been classified in level 2, and $27.54 billion and $21.40 billion would have been classified in level 3, as of December 2017 and December 2016, respectively.
The following is a description of the captions in the table above: ‰ Corporate Loans.
Corporate loans includes term loans, revolving lines of credit, letter of credit facilities and bridge loans, and are principally used for operating liquidity and general corporate purposes, or in connection with acquisitions.
Corporate loans may be secured or unsecured, depending on the loan purpose, the risk profile of the borrower and other factors.
Loans receivable related to the firm’s relationship lending activities are reported within corporate loans.
‰ Loans to Private Wealth Management Clients.
Loans to Private Wealth Management (PWM) clients includes loans used by clients to finance private asset purchases, employ leverage for strategic investments in real or financial assets, bridge cash flow timing gaps or provide liquidity for other needs.
Such loans are primarily secured by securities or other assets.
‰ Loans Backed by Commercial Real Estate.
Loans backed by commercial real estate includes loans extended by the firm that are directly or indirectly secured by hotels, retail stores, multifamily housing complexes and commercial and industrial properties.
Loans backed by commercial real estate also includes loans purchased by the firm.
Financial Condition and Results of Operations - Segment Reporting - Trading and Clearing Segment” included in this Annual Report.
(3) Acquisition-related transaction and integration costs include fees for investment banking advisors, lawyers, accountants, tax advisors and public relations firms, deal-related bonuses to certain of our employees, as well as costs associated with credit facilities and other external costs directly related to acquisitions and other strategic opportunities.
We incurred integration costs during 2018, 2017, 2016 and 2015 relating to our Interactive Data acquisition and during 2016, 2015 and 2014 relating to our NYSE acquisition, primarily related to employee termination costs, lease terminations costs, costs incurred relating to the IPO of Euronext, transaction-related bonuses and professional services costs incurred relating to the integrations.
(4) Other income (expense), net during 2018 includes a $110 million gain on our initial investment value in MERS recorded on October 3, 2018, the date we completed our acquisition, interest expense of $244 million and interest income of $22 million.
Other income (expense), net during 2017 includes a $167 million realized net investment gain in connection with our sale of Cetip and a $110 million net gain on our divestiture of Trayport, interest expense of $187 million and interest income of $8 million.
Refer to Notes 3 and 4 to our consolidated financial statements and related notes, which are included in this Annual Report, for more information.
(5) The income tax benefit in 2017 and lower income tax expense in 2015 are primarily due to the deferred tax benefit associated with future U. S.  income tax rate reductions of $764 million in 2017 and the deferred tax benefit associated with future U. K.  income tax rate reductions along with certain favorable settlements with various taxing authorities of $75 million in 2015.
See Item 7 “- Management’s Discussion and Analysis of Financial Condition and Results of Operations - Consolidated Income TTax Provision” included in this Annual Report for more information on these items.
(6) During 2014, we sold 100% of our wholly-owned subsidiary, Euronext, in connection with Euronext’s IPO, and we sold our entire interest in three companies that comprised the former NYSE Technologies (NYFIX, Metabit and W T ombat).
We treated the sale of these entities as discontinued operations for all periods presented from their acquisition on November 13, 2013 to their dispositions.
(7) The weighted average common shares outstanding increased in 2016 primarily due to the stock issued for the Interactive Data and Trayport acquisitions and increased in 2014 primarily due to stock issued for the NYSE acquisition.
We issued 211.9 million shares of our common stock to NYSE stockholders, 32.3 million shares of our common stock to Interactive Data stockholders and 12.6 million shares of our common stock to Trayport stockholders, weighted to show these additional shares outstanding for all periods after the respective acquisition dates.
## Table 3 ##
(1) Clearing members of our clearing houses are required to deposit original margin and variation margin and for our clearing houses other than ICE NGX, to make deposits to a guaranty fund.
The cash deposits made to these margin accounts and to the guaranty fund are recorded in the consolidated balance sheet as current assets with corresponding current liabilities to the clearing members that deposited them.
We also account for the physical delivery of our energy contracts for ICE NGX following its acquisition in December 2017.
Refer to Note 14 to our consolidated financial statements, included in this Annual Report, for more information on these items.

<table><tr><td>Operating rental properties</td><td>$602,011</td></tr><tr><td>Undeveloped land</td><td>154,300</td></tr><tr><td>Total real estate investments</td><td>756,311</td></tr><tr><td>Other assets</td><td>10,478</td></tr><tr><td>Lease related intangible assets</td><td>86,047</td></tr><tr><td>Goodwill</td><td>14,722</td></tr><tr><td>Total assets acquired</td><td>867,558</td></tr><tr><td>Debt assumed</td><td>-148,527</td></tr><tr><td>Other liabilities assumed</td><td>-5,829</td></tr><tr><td>Purchase price, net of assumed liabilities</td><td>$713,202</td></tr></table>
<table><tr><td></td><td colspan="2">Year Ended December</td></tr><tr><td><i>$ in millions</i></td><td>2017</td><td>2016</td></tr><tr><td>DVA(pre-tax)</td><td>$-1,232</td><td>$-844</td></tr><tr><td>DVA (net of tax)</td><td>$ -807</td><td>$-544</td></tr></table>
<table><tr><td></td><td colspan="2">As of December</td></tr><tr><td><i>$ in millions</i></td><td>2017</td><td>2016</td></tr><tr><td>Corporate loans</td><td>$30,749</td><td>$24,837</td></tr><tr><td>Loans to PWM clients</td><td>16,591</td><td>13,828</td></tr><tr><td>Loans backed by commercial real estate</td><td>7,987</td><td>4,761</td></tr><tr><td>Loans backed by residential real estate</td><td>6,234</td><td>3,865</td></tr><tr><td>Marcus loans</td><td>1,912</td><td>208</td></tr><tr><td>Other loans</td><td>3,263</td><td>2,682</td></tr><tr><td>Total loans receivable, gross</td><td>66,736</td><td>50,181</td></tr><tr><td>Allowance for loan losses</td><td>-803</td><td>-509</td></tr><tr><td> Total loans receivable</td><td>$65,933</td><td>$49,672</td></tr></table>
<table><tr><td rowspan="3"></td><td colspan="5">As of December 31,</td></tr><tr><td>2018</td><td>2017</td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td colspan="5">(In millions)</td></tr><tr><td>Consolidated Balance Sheet Data</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash and cash equivalents</td><td>$724</td><td>$535</td><td>$407</td><td>$627</td><td>$652</td></tr><tr><td>Margin deposits, guaranty funds and delivery contracts receivable<sup>-1</sup></td><td>63,955</td><td>51,222</td><td>55,150</td><td>51,169</td><td>47,458</td></tr><tr><td>Total current assets</td><td>66,692</td><td>53,562</td><td>57,133</td><td>53,313</td><td>50,232</td></tr><tr><td>Goodwill and other intangible assets, net<sup>-2</sup></td><td>23,547</td><td>22,485</td><td>22,711</td><td>22,837</td><td>16,315</td></tr><tr><td>Total assets</td><td>92,791</td><td>78,264</td><td>82,003</td><td>77,987</td><td>68,254</td></tr><tr><td>Margin deposits, guaranty funds and delivery contracts payable<sup>-1</sup></td><td>63,955</td><td>51,222</td><td>55,150</td><td>51,169</td><td>47,458</td></tr><tr><td>Total current liabilities</td><td>66,108</td><td>54,175</td><td>58,617</td><td>54,743</td><td>50,436</td></tr><tr><td>Short-term and long-term debt<sup>-2</sup></td><td>7,441</td><td>6,100</td><td>6,364</td><td>7,308</td><td>4,277</td></tr><tr><td>Equity<sup>-2</sup></td><td>17,231</td><td>16,985</td><td>15,775</td><td>14,840</td><td>12,392</td></tr></table>

Question: In which year is Cash and cash equivalents greater than 700 million?