what was the percentage increase in the property and equipment net from 2004 to 2005
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) operations , net , in the accompanying consolidated statements of operations for the year ended december 31 , 2003 . ( see note 9. ) other transactions 2014in august 2003 , the company consummated the sale of galaxy engineering ( galaxy ) , a radio frequency engineering , network design and tower-related consulting business ( previously included in the company 2019s network development services segment ) . the purchase price of approximately $ 3.5 million included $ 2.0 million in cash , which the company received at closing , and an additional $ 1.5 million payable on january 15 , 2008 , or at an earlier date based on the future revenues of galaxy . the company received $ 0.5 million of this amount in january 2005 . pursuant to this transaction , the company recorded a net loss on disposal of approximately $ 2.4 million in the accompanying consolidated statement of operations for the year ended december 31 , 2003 . in may 2003 , the company consummated the sale of an office building in westwood , massachusetts ( previously held primarily as rental property and included in the company 2019s rental and management segment ) for a purchase price of approximately $ 18.5 million , including $ 2.4 million of cash proceeds and the buyer 2019s assumption of $ 16.1 million of related mortgage notes . pursuant to this transaction , the company recorded a net loss on disposal of approximately $ 3.6 million in the accompanying consolidated statement of operations for the year ended december 31 , 2003 . in january 2003 , the company consummated the sale of flash technologies , its remaining components business ( previously included in the company 2019s network development services segment ) for approximately $ 35.5 million in cash and has recorded a net gain on disposal of approximately $ 0.1 million in the accompanying consolidated statement of operations for the year ended december 31 , 2003 . in march 2003 , the company consummated the sale of an office building in schaumburg , illinois ( previously held primarily as rental property and included in the company 2019s rental and management segment ) for net proceeds of approximately $ 10.3 million in cash and recorded a net loss on disposal of $ 0.1 million in the accompanying consolidated statement of operations for the year ended december 31 , 2003 . 4 . property and equipment property and equipment ( including assets held under capital leases ) consist of the following as of december 31 , ( in thousands ) : .

|  | 2005 | 2004 |
| :--- | :--- | :--- |
| Towers | $4,134,155 | $2,788,162 |
| Equipment | 167,504 | 115,244 |
| Buildings and improvements | 184,951 | 162,120 |
| Land and improvements | 215,974 | 176,937 |
| Construction-in-progress | 36,991 | 27,866 |
| Total | 4,739,575 | 3,270,329 |
| Less accumulated depreciation and amortization | (1,279,049) | (996,973) |
| Property and equipment, net | $3,460,526 | $2,273,356 |

5 . goodwill and other intangible assets the company 2019s net carrying amount of goodwill was approximately $ 2.1 billion as of december 312005 and $ 592.7 million as of december 31 , 2004 , all of which related to its rental and management segment . the increase in the carrying value was as a result of the goodwill of $ 1.5 billion acquired in the merger with spectrasite , inc . ( see note 2. ) .

property_net = 3460526
equipment_net = 2273356
increase = property_net - equipment_net
percent_increase = increase / equipment_net
answer = percent_increase * 100