Schedule III - Real Estate and Accumulated Depreciation |
SOTHERLY HOTELS INC.
SOTHERLY HOTELS LP
SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2021
(in thousands)
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Costs Capitalized |
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Life on |
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Initial Costs |
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Subsequent to Acquisition |
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Gross Amount At End of Year |
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Accumulated |
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Which |
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Building & |
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Building & |
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Building & |
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Depreciation |
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Date of |
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Date |
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Depreciation |
Description |
Encumbrances |
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Land |
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Improvements |
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Land |
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Improvements |
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Land |
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Improvements |
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Total |
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& Impairment |
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Construction |
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Acquired |
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is Computed |
The DeSoto – Savannah, Georgia |
$ |
32,149 |
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|
$ |
600 |
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$ |
13,562 |
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$ |
813 |
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$ |
20,398 |
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|
$ |
1,413 |
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$ |
33,960 |
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$ |
35,373 |
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$ |
(14,248 |
) |
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1968 |
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2004 |
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3-39 years |
DoubleTree by Hilton Jacksonville Riverfront –
Jacksonville, Florida |
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33,051 |
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7,090 |
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14,604 |
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148 |
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7,375 |
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7,238 |
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21,979 |
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29,217 |
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(9,549 |
) |
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1970 |
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2005 |
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3-39 years |
DoubleTree by Hilton Laurel – Laurel, Maryland |
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8,175 |
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900 |
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9,443 |
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71 |
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5,784 |
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971 |
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15,227 |
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16,198 |
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(6,376 |
) |
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1985 |
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2004 |
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3-39 years |
DoubleTree by Hilton Philadelphia Airport –
Philadelphia, Pennsylvania |
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40,734 |
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2100 |
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22,031 |
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399 |
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7,099 |
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2,499 |
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29,130 |
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31,629 |
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(12,997 |
) |
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1972 |
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2004 |
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3-39 years |
DoubleTree by Hilton Raleigh Brownstone –
University – Raleigh, North Carolina |
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18,300 |
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815 |
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7,416 |
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3,795 |
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6,849 |
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4,610 |
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14,265 |
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18,875 |
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(7,455 |
) |
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1971 |
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2004 |
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3-39 years |
DoubleTree Resort by Hilton Hollywood Beach - Hollywood
Beach, Florida |
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54,254 |
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22,865 |
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67,660 |
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634 |
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8,612 |
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23,499 |
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76,272 |
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99,771 |
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(13,341 |
) |
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1972 |
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2015 |
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3-39 years |
Georgian Terrace – Atlanta, Georgia |
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41,485 |
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10,128 |
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45,386 |
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(1,251 |
) |
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6,521 |
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8,877 |
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51,907 |
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60,784 |
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(11,441 |
) |
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1911 |
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2014 |
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3-39 years |
Hotel Alba Tampa, Tapestry Collection by Hilton – Tampa, Florida |
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17,383 |
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4,153 |
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9,670 |
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1,773 |
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25,985 |
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5,926 |
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35,655 |
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41,581 |
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(11,740 |
) |
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1973 |
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2007 |
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3-39 years |
Hotel Ballast Wilmington, Tapestry Collection by Hilton – Wilmington,
North Carolina |
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32,605 |
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785 |
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16,829 |
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1,153 |
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14,872 |
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1,938 |
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31,701 |
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33,639 |
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(15,134 |
) |
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1970 |
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2004 |
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3-39 years |
Hyatt Centric Arlington - Arlington, Virginia |
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48,990 |
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191 |
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70,369 |
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79 |
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1,739 |
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270 |
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72,108 |
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72,378 |
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(7,146 |
) |
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2018 |
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3-39 years |
Sheraton Louisville Riverside – Jeffersonville, Indiana |
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10,947 |
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782 |
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6,891 |
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407 |
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14,959 |
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1,189 |
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21,850 |
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23,039 |
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(12,619 |
) |
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1972 |
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2006 |
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3-39 years |
The Whitehall – Houston, Texas |
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14,552 |
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7,374 |
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22,185 |
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164 |
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7,187 |
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7,538 |
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29,372 |
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36,910 |
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(6,975 |
) |
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1963 |
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2013 |
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3-39 years |
Hyde Resort & Residences |
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- |
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226 |
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4,290 |
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- |
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- |
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226 |
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4,290 |
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4,516 |
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(541 |
) |
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2016 |
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2017 |
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3-39 years |
Hyde Beach House Resort & Residences |
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- |
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- |
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5,710 |
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- |
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- |
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- |
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5,710 |
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5,710 |
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(333 |
) |
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2019 |
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2019 |
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3-39 years |
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$ |
352,625 |
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$ |
58,009 |
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$ |
316,046 |
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$ |
8,185 |
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$ |
127,380 |
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$ |
66,194 |
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$ |
443,426 |
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$ |
509,620 |
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$ |
(129,895 |
) |
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(1) |
For the year ending December 31, 2021, the aggregate cost of our real estate assets for federal income tax purposes was approximately $495.2 million. |
RECONCILIATION OF REAL ESTATE AND ACCUMULATED DEPRECIATION
RECONCILIATION OF REAL ESTATE
Balance at December 31, 2019 |
|
$ |
504,300 |
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Acquisitions |
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— |
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Improvements |
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4,066 |
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Disposal of Assets |
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(213 |
) |
Balance at December 31, 2020 |
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$ |
508,153 |
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Acquisitions |
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— |
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Improvements |
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2,147 |
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Disposal of Assets |
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(680 |
) |
Balance at December 31, 2021 |
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$ |
509,620 |
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RECONCILIATION OF ACCUMULATED DEPRECIATION
Balance at December 31, 2019 |
|
$ |
97,537 |
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Current Expense |
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|
14,355 |
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Impairment |
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— |
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Disposal of Assets |
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(134 |
) |
Balance at December 31, 2020 |
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$ |
111,758 |
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Current Expense |
|
|
14,474 |
|
Impairment |
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|
12,201 |
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Disposal of Assets |
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(8,538 |
) |
Balance at December 31, 2021 |
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$ |
129,895 |
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