fair value of financial instruments the carrying amounts shown for the company 2019s cash and cash equivalents , accounts receivable and accounts payable approximate fair value because of the short term maturity of those instruments . the fair value of the long term debt approximates its carrying value based on the variable nature of interest rates and current market rates available to the company . the fair value of foreign currency forward contracts is based on the net difference between the u.s . dollars to be received or paid at the contracts 2019 settlement date and the u.s . dollar value of the foreign currency to be sold or purchased at the current forward exchange rate . recently issued accounting standards in june 2011 , the financial accounting standards board ( 201cfasb 201d ) issued an accounting standards update which eliminates the option to report other comprehensive income and its components in the statement of changes in stockholders 2019 equity . it requires an entity to present total comprehensive income , which includes the components of net income and the components of other comprehensive income , either in a single continuous statement or in two separate but consecutive statements . in december 2011 , the fasb issued an amendment to this pronouncement which defers the specific requirement to present components of reclassifications of other comprehensive income on the face of the income statement . these pronouncements are effective for financial statements issued for fiscal years , and interim periods within those years , beginning after december 15 , 2011 . the company believes the adoption of these pronouncements will not have a material impact on its consolidated financial statements . in may 2011 , the fasb issued an accounting standards update which clarifies requirements for how to measure fair value and for disclosing information about fair value measurements common to accounting principles generally accepted in the united states of america and international financial reporting standards . this guidance is effective for interim and annual periods beginning on or after december 15 , 2011 . the company believes the adoption of this guidance will not have a material impact on its consolidated financial statements . 3 . inventories inventories consisted of the following: .

Table: ( in thousands ) december 31 , 2011 december 31 , 2010 finished goods $ 323606 $ 214524 raw materials 803 831 total inventories $ 324409 $ 215355

4 . acquisitions in july 2011 , the company acquired approximately 400.0 thousand square feet of office space comprising its corporate headquarters for $ 60.5 million . the acquisition included land , buildings , tenant improvements and third party lease-related intangible assets . as of the purchase date , 163.6 thousand square feet of the 400.0 thousand square feet acquired was leased to third party tenants . these leases had remaining lease terms ranging from 9 months to 15 years on the purchase date . the company intends to occupy additional space as it becomes available . since the acquisition , the company has invested $ 2.2 million in additional improvements . the acquisition included the assumption of a $ 38.6 million loan secured by the property and the remaining purchase price was paid in cash funded primarily by a $ 25.0 million term loan borrowed in may 2011 . the carrying value of the assumed loan approximated its fair value on the date of the acquisition . refer to note 7 for .

Question: as part of the july 2011 acquisition of the property what was the percent of the assumed loan to the purchase price
Answer: 63.8%
Calculation: divide(38.6, 60.5)