Does "De Minimus Safe Harbor" apply to real property?

[Mike G.]

I have been reading mixed opinions on this question in multiple forums and wanted to see if anyone had any references or could provide for further clarity.  

According to IRS regulations, "Under the final tangibles regulations, you may elect to apply a de minimis safe harbor to amounts paid to acquire or produce tangible property"

My understanding is that tangible property includes both personal and real property, but then in other discussions, people reference this election is only for "tangible personal property".  Am I understanding the definition of tangible property incorrectly in regards to the IRS regulations or can de minimis safe harbor apply to real property as well?