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Schedule III - Real Estate and Accumulated Depreciation
12 Months Ended
Dec. 31, 2021
Real Estate And Accumulated Depreciation Disclosure [Abstract]  
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)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs Capitalized

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

Initial Costs

 

 

Subsequent to Acquisition

 

 

Gross Amount At End of Year

 

 

Accumulated

 

 

 

 

 

 

Which

 

 

 

 

 

 

 

 

 

Building &

 

 

 

 

 

 

Building &

 

 

 

 

 

 

Building &

 

 

 

 

 

 

Depreciation

 

 

Date of

 

Date

 

Depreciation

Description

Encumbrances

 

 

Land

 

 

Improvements

 

 

Land

 

 

Improvements

 

 

Land

 

 

Improvements

 

 

Total

 

 

& Impairment

 

 

Construction

 

Acquired

 

is Computed

The DeSoto – Savannah, Georgia

$

32,149

 

 

$

600

 

 

$

13,562

 

 

$

813

 

 

$

20,398

 

 

$

1,413

 

 

$

33,960

 

 

$

35,373

 

 

$

(14,248

)

 

1968

 

2004

 

3-39 years

DoubleTree by Hilton Jacksonville Riverfront –

   Jacksonville, Florida

 

33,051

 

 

 

7,090

 

 

 

14,604

 

 

 

148

 

 

 

7,375

 

 

 

7,238

 

 

 

21,979

 

 

 

29,217

 

 

 

(9,549

)

 

1970

 

2005

 

3-39 years

DoubleTree by Hilton Laurel – Laurel, Maryland

 

8,175

 

 

 

900

 

 

 

9,443

 

 

 

71

 

 

 

5,784

 

 

 

971

 

 

 

15,227

 

 

 

16,198

 

 

 

(6,376

)

 

1985

 

2004

 

3-39 years

DoubleTree by Hilton Philadelphia Airport –

   Philadelphia, Pennsylvania

 

40,734

 

 

2100

 

 

 

22,031

 

 

 

399

 

 

 

7,099

 

 

 

2,499

 

 

 

29,130

 

 

 

31,629

 

 

 

(12,997

)

 

1972

 

2004

 

3-39 years

DoubleTree by Hilton Raleigh Brownstone –

   University – Raleigh, North Carolina

 

18,300

 

 

 

815

 

 

 

7,416

 

 

 

3,795

 

 

 

6,849

 

 

 

4,610

 

 

 

14,265

 

 

 

18,875

 

 

 

(7,455

)

 

1971

 

2004

 

3-39 years

DoubleTree Resort by Hilton Hollywood Beach - Hollywood

   Beach, Florida

 

54,254

 

 

 

22,865

 

 

 

67,660

 

 

 

634

 

 

 

8,612

 

 

 

23,499

 

 

 

76,272

 

 

 

99,771

 

 

 

(13,341

)

 

1972

 

2015

 

3-39 years

Georgian Terrace – Atlanta, Georgia

 

41,485

 

 

 

10,128

 

 

 

45,386

 

 

 

(1,251

)

 

 

6,521

 

 

 

8,877

 

 

 

51,907

 

 

 

60,784

 

 

 

(11,441

)

 

1911

 

2014

 

3-39 years

Hotel Alba Tampa, Tapestry Collection by Hilton – Tampa, Florida

 

17,383

 

 

 

4,153

 

 

 

9,670

 

 

 

1,773

 

 

 

25,985

 

 

 

5,926

 

 

 

35,655

 

 

 

41,581

 

 

 

(11,740

)

 

1973

 

2007

 

3-39 years

Hotel Ballast Wilmington, Tapestry Collection by Hilton – Wilmington,

   North Carolina

 

32,605

 

 

785

 

 

 

16,829

 

 

 

1,153

 

 

 

14,872

 

 

 

1,938

 

 

 

31,701

 

 

 

33,639

 

 

 

(15,134

)

 

1970

 

2004

 

3-39 years

Hyatt Centric Arlington - Arlington, Virginia

 

48,990

 

 

 

191

 

 

 

70,369

 

 

 

79

 

 

 

1,739

 

 

 

270

 

 

 

72,108

 

 

 

72,378

 

 

 

(7,146

)

 

 

 

2018

 

3-39 years

Sheraton Louisville Riverside – Jeffersonville, Indiana

 

10,947

 

 

782

 

 

 

6,891

 

 

 

407

 

 

 

14,959

 

 

 

1,189

 

 

 

21,850

 

 

 

23,039

 

 

 

(12,619

)

 

1972

 

2006

 

3-39 years

The Whitehall – Houston, Texas

 

14,552

 

 

 

7,374

 

 

 

22,185

 

 

 

164

 

 

 

7,187

 

 

 

7,538

 

 

 

29,372

 

 

 

36,910

 

 

 

(6,975

)

 

1963

 

2013

 

3-39 years

Hyde Resort & Residences

 

-

 

 

 

226

 

 

 

4,290

 

 

 

-

 

 

 

-

 

 

 

226

 

 

 

4,290

 

 

 

4,516

 

 

 

(541

)

 

2016

 

2017

 

3-39 years

Hyde Beach House Resort & Residences

 

-

 

 

 

-

 

 

 

5,710

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

5,710

 

 

 

5,710

 

 

 

(333

)

 

2019

 

2019

 

3-39 years

 

$

352,625

 

 

$

58,009

 

 

$

316,046

 

 

$

8,185

 

 

$

127,380

 

 

$

66,194

 

 

$

443,426

 

 

$

509,620

 

 

$

(129,895

)

 

 

 

 

 

 

 

(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

 

Acquisitions

 

 

 

Improvements

 

 

4,066

 

Disposal of Assets

 

 

(213

)

Balance at December 31, 2020

 

$

508,153

 

Acquisitions

 

 

 

Improvements

 

 

2,147

 

Disposal of Assets

 

 

(680

)

Balance at December 31, 2021

 

$

509,620

 

 

RECONCILIATION OF ACCUMULATED DEPRECIATION

 

Balance at December 31, 2019

 

$

97,537

 

Current Expense

 

 

14,355

 

Impairment

 

 

 

Disposal of Assets

 

 

(134

)

Balance at December 31, 2020

 

$

111,758

 

Current Expense

 

 

14,474

 

Impairment

 

 

12,201

 

Disposal of Assets

 

 

(8,538

)

Balance at December 31, 2021

 

$

129,895