Schedule III - Real Estate and Accumulated Depreciation |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Initial Cost (A) | | | | | | Gross amount at which carried at end of period | | | PROPERTY NAME Location | Encumbrance | | Land | | Buildings and Improvements | | Adjustments to Land Basis (B) | | Adjustments to Basis (B) | | Land and Improvements | | Buildings and Improvements | | Total (C) | | Accumulated Depreciation (D,E) | | Date of Completion of Construction or Date of Acquisition | BEAR CREEK VILLAGE CENTER Wildomar, CA | $ | 13,278 |
| | $ | 3,523 |
| | $ | 12,384 |
| | $ | — |
| | $ | 136 |
| | $ | 3,523 |
| | $ | 12,520 |
| | $ | 16,043 |
| | $ | 4,089 |
| | 2009 | BELLERIVE PLAZA Nicholasville, KY | 6,464 |
| | 2,400 |
| | 7,749 |
| | (663 | ) | | (4,645 | ) | | 1,737 |
| | 3,104 |
| | 4,841 |
| | 132 |
| | 2007 | BENT TREE PLAZA Raleigh, NC | — |
| | 1,983 |
| | 7,093 |
| | — |
| | 1,471 |
| | 1,983 |
| | 8,564 |
| | 10,547 |
| | 2,446 |
| | 2009 | BOYNTON COMMONS Miami, FL | — |
| | 11,400 |
| | 17,315 |
| | — |
| | 769 |
| | 11,400 |
| | 18,084 |
| | 29,484 |
| | 5,116 |
| | 2010 | BROOKS CORNER San Antonio, TX | 12,828 |
| | 10,600 |
| | 13,648 |
| | — |
| | 3,179 |
| | 10,600 |
| | 16,827 |
| | 27,427 |
| | 7,111 |
| | 2006 | BUCKHEAD CROSSING Atlanta, GA | — |
| | 7,565 |
| | 27,104 |
| | — |
| | 692 |
| | 7,565 |
| | 27,796 |
| | 35,361 |
| | 8,772 |
| | 2009 | CAMPUS MARKETPLACE San Marcos, CA | 41,000 |
| | 26,928 |
| | 43,445 |
| | — |
| | — |
| | 26,928 |
| | 43,445 |
| | 70,373 |
| | 1,556 |
| | 2017 | CARY PARK TOWN CENTER Cary, NC | — |
| | 5,555 |
| | 17,280 |
| | — |
| | — |
| | 5,555 |
| | 17,280 |
| | 22,835 |
| | 264 |
| | 2017 | CENTERPLACE OF GREELEY Greeley, CO | 14,363 |
| | 3,904 |
| | 14,715 |
| | — |
| | 304 |
| | 3,904 |
| | 15,019 |
| | 18,923 |
| | 5,114 |
| | 2009 | CHESAPEAKE COMMONS Chesapeake, VA | — |
| | 2,669 |
| | 10,839 |
| | — |
| | 62 |
| | 2,669 |
| | 10,901 |
| | 13,570 |
| | 4,305 |
| | 2007 | CHEYENNE MEADOWS Colorado Springs, CO | — |
| | 2,023 |
| | 6,991 |
| | — |
| | 399 |
| | 2,023 |
| | 7,390 |
| | 9,413 |
| | 2,477 |
| | 2009 | COWETA CROSSING Newnan, GA | — |
| | 1,143 |
| | 4,590 |
| | — |
| | (15 | ) | | 1,143 |
| | 4,575 |
| | 5,718 |
| | 1,520 |
| | 2009 | CROSSROADS AT CHESAPEAKE SQUARE Chesapeake, VA | — |
| | 3,970 |
| | 13,732 |
| | (296 | ) | | 1,789 |
| | 3,674 |
| | 15,521 |
| | 19,195 |
| | 6,377 |
| | 2007 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Initial Cost (A) | | | | | | Gross amount at which carried at end of period | | | PROPERTY NAME Location | Encumbrance | | Land | | Buildings and Improvements | | Adjustments to Land Basis (B) | | Adjustments to Basis (B) | | Land and Improvements | | Buildings and Improvements | | Total (C) | | Accumulated Depreciation (D,E) | | Date of Completion of Construction or Date of Acquisition | CUSTER CREEK VILLAGE Richardson, TX | — |
| | 4,750 |
| | 12,245 |
| | — |
| | 293 |
| | 4,750 |
| | 12,538 |
| | 17,288 |
| | 4,729 |
| | 2007 | ELDRIDGE TOWN CENTER Houston, TX | — |
| | 3,200 |
| | 16,663 |
| | — |
| | 886 |
| | 3,200 |
| | 17,549 |
| | 20,749 |
| | 7,765 |
| | 2005 | GARDEN VILLAGE San Pedro, CA | — |
| | 3,188 |
| | 16,522 |
| | — |
| | 139 |
| | 3,188 |
| | 16,661 |
| | 19,849 |
| | 5,219 |
| | 2009 | GATEWAY MARKET CENTER Tampa, FL | — |
| | 13,600 |
| | 4,992 |
| | — |
| | 1,082 |
| | 13,600 |
| | 6,074 |
| | 19,674 |
| | 1,982 |
| | 2010 | GRAFTON COMMONS SHOPPING CENTER Grafton, WI | — |
| | 7,200 |
| | 26,984 |
| | — |
| | 197 |
| | 7,200 |
| | 27,181 |
| | 34,381 |
| | 8,043 |
| | 2009 | HIRAM PAVILION Hiram, GA | — |
| | 4,600 |
| | 16,832 |
| | — |
| | 2,892 |
| | 4,600 |
| | 19,724 |
| | 24,324 |
| | 5,819 |
| | 2010 | KYLE MARKETPLACE Kyle, TX | — |
| | 6,076 |
| | 48,220 |
| | — |
| | — |
| | 6,076 |
| | 48,220 |
| | 54,296 |
| | 429 |
| | 2017 | LAKEPORT COMMONS Sioux City, IA | — |
| | 7,800 |
| | 39,984 |
| | (628 | ) | | (14,173 | ) | | 7,172 |
| | 25,811 |
| | 32,983 |
| | 1,074 |
| | 2007 | MARKET AT MORSE / HAMILTON Columbus, OH | — |
| | 4,490 |
| | 8,734 |
| | (907 | ) | | (3,090 | ) | | 3,583 |
| | 5,644 |
| | 9,227 |
| | 1,261 |
| | 2007 | MARKET AT WESTLAKE Westlake Hills, TX | — |
| | 1,200 |
| | 6,274 |
| | (64 | ) | | 80 |
| | 1,136 |
| | 6,354 |
| | 7,490 |
| | 2,440 |
| | 2007 | MCKINNEY TOWN CENTER McKinney, TX | — |
| | 16,297 |
| | 22,562 |
| | — |
| | 1,531 |
| | 16,297 |
| | 24,093 |
| | 40,390 |
| | 7,048 |
| | 2007 | NORTHCROSS COMMONS Charlotte, NC | — |
| | 7,591 |
| | 21,303 |
| | — |
| | 4 |
| | 7,591 |
| | 21,307 |
| | 28,898 |
| | 945 |
| | 2016 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Initial Cost (A) | | | | | | Gross amount at which carried at end of period | | | PROPERTY NAME Location | Encumbrance | | Land | | Buildings and Improvements | | Adjustments to Land Basis (B) | | Adjustments to Basis (B) | | Land and Improvements | | Buildings and Improvements | | Total (C) | | Accumulated Depreciation (D,E) | | Date of Completion of Construction or Date of Acquisition | NORTHWEST MARKETPLACE Houston, TX | — |
| | 3,870 |
| | 30,340 |
| | (31 | ) | | 1,019 |
| | 3,839 |
| | 31,359 |
| | 35,198 |
| | 11,595 |
| | 2007 | OLD GROVE MARKETPLACE Oceanside, CA | — |
| | 12,545 |
| | 8,902 |
| | — |
| | 30 |
| | 12,545 |
| | 8,932 |
| | 21,477 |
| | 459 |
| | 2016 | PARAISO PARC AND WESTFORK PLAZA Pembroke Pines, FL | — |
| | 28,267 |
| | 124,020 |
| | — |
| | — |
| | 28,267 |
| | 124,020 |
| | 152,287 |
| | 3,528 |
| | 2017 | PARKWAY CENTRE NORTH Grove City, OH | 16,100 |
| | 5,580 |
| | 18,636 |
| | — |
| | 2,174 |
| | 5,580 |
| | 20,810 |
| | 26,390 |
| | 8,237 |
| | 2007 | PAVILION AT LAQUINTA LaQuinta, CA | 24,019 |
| | 15,200 |
| | 20,947 |
| | — |
| | 912 |
| | 15,200 |
| | 21,859 |
| | 37,059 |
| | 6,858 |
| | 2009 | PEACHLAND PROMENADE Port Charlotte, FL | — |
| | 1,742 |
| | 6,502 |
| | (911 | ) | | (3,637 | ) | | 831 |
| | 2,865 |
| | 3,696 |
| | 120 |
| | 2009 | PLANTATION GROVE Ocoee, FL | 7,300 |
| | 3,705 |
| | 6,300 |
| | — |
| | 486 |
| | 3,705 |
| | 6,786 |
| | 10,491 |
| | 953 |
| | 2014 | PLAZA MIDTOWN Atlanta, GL | — |
| | 5,295 |
| | 23,946 |
| | — |
| | — |
| | 5,295 |
| | 23,946 |
| | 29,241 |
| | 267 |
| | 2017 | POPLIN PLACE Monroe, NC | — |
| | 6,100 |
| | 27,790 |
| | — |
| | 1,059 |
| | 6,100 |
| | 28,849 |
| | 34,949 |
| | 9,709 |
| | 2008 | PROMENADE FULTONDALE Fultondale, AL | — |
| | 5,540 |
| | 22,414 |
| | (1,022 | ) | | 165 |
| | 4,518 |
| | 22,579 |
| | 27,097 |
| | 7,097 |
| | 2009 | QUEBEC SQUARE Denver, CO | 23,550 |
| | 9,579 |
| | 40,086 |
| | — |
| | 664 |
| | 9,579 |
| | 40,750 |
| | 50,329 |
| | 4,384 |
| | 2014 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Initial Cost (A) | | | | | | Gross amount at which carried at end of period | | | PROPERTY NAME Location | Encumbrance | | Land | | Buildings and Improvements | | Adjustments to Land Basis (B) | | Adjustments to Basis (B) | | Land and Improvements | | Buildings and Improvements | | Total (C) | | Accumulated Depreciation (D,E) | | Date of Completion of Construction or Date of Acquisition | RENAISSANCE CENTER Durham, NC | 15,481 |
| | 26,713 |
| | 96,141 |
| | — |
| | 2,160 |
| | 26,713 |
| | 98,301 |
| | 125,014 |
| | 6,233 |
| | 2016 | RIO PINOR PLAZA Orlando, FL | — |
| | 5,171 |
| | 26,903 |
| | — |
| | 2 |
| | 5,171 |
| | 26,905 |
| | 32,076 |
| | 2,073 |
| | 2015 | RIVER OAKS SHOPPING CENTER Valencia, CA | — |
| | 24,598 |
| | 88,418 |
| | — |
| | — |
| | 24,598 |
| | 88,418 |
| | 113,016 |
| | 1,008 |
| | 2017 | RIVERSTONE SHOPPING CENTER Missouri City, TX | 18,350 |
| | 12,000 |
| | 26,395 |
| | — |
| | 539 |
| | 12,000 |
| | 26,934 |
| | 38,934 |
| | 10,256 |
| | 2007 | RIVERVIEW VILLAGE Arlington, TX | — |
| | 6,000 |
| | 9,649 |
| | — |
| | 777 |
| | 6,000 |
| | 10,426 |
| | 16,426 |
| | 3,939 |
| | 2007 | RIVERWALK MARKET Flower Mound, TX | — |
| | 5,931 |
| | 23,922 |
| | — |
| | 1 |
| | 5,931 |
| | 23,923 |
| | 29,854 |
| | 1,022 |
| | 2016 | ROSE CREEK Woodstock, GA | — |
| | 1,443 |
| | 5,630 |
| | — |
| | 308 |
| | 1,443 |
| | 5,938 |
| | 7,381 |
| | 1,886 |
| | 2009 | SARASOTA PAVILION Sarasota, FL | — |
| | 12,000 |
| | 25,823 |
| | — |
| | 998 |
| | 12,000 |
| | 26,821 |
| | 38,821 |
| | 7,636 |
| | 2010 | SCOFIELD CROSSING Austin, TX | — |
| | 8,100 |
| | 4,992 |
| | (576 | ) | | 116 |
| | 7,524 |
| | 5,108 |
| | 12,632 |
| | 1,998 |
| | 2007 | SHERMAN TOWN CENTER Sherman, TX | — |
| | 4,850 |
| | 49,273 |
| | — |
| | 648 |
| | 4,850 |
| | 49,921 |
| | 54,771 |
| | 19,733 |
| | 2006 | SHERMAN TOWN CENTER II Sherman, TX | — |
| | 3,000 |
| | 14,805 |
| | — |
| | (20 | ) | | 3,000 |
| | 14,785 |
| | 17,785 |
| | 3,831 |
| | 2010 | SHOPS AT THE GALLERIA Austin, TX | — |
| | 52,104 |
| | 75,651 |
| | — |
| | — |
| | 52,104 |
| | 75,651 |
| | 127,755 |
| | 4,849 |
| | 2016 | SIEGEN PLAZA East Baton Rouge, LA | 16,600 |
| | 9,340 |
| | 20,251 |
| | — |
| | 2,547 |
| | 9,340 |
| | 22,798 |
| | 32,138 |
| | 7,340 |
| | 2008 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Initial Cost (A) | | | | | | Gross amount at which carried at end of period | | | PROPERTY NAME Location | Encumbrance | | Land | | Buildings and Improvements | | Adjustments to Land Basis (B) | | Adjustments to Basis (B) | | Land and Improvements | | Buildings and Improvements | | Total (C) | | Accumulated Depreciation (D,E) | | Date of Completion of Construction or Date of Acquisition | SILVERLAKE Erlanger, KY | — |
| | 2,031 |
| | 6,975 |
| | — |
| | (10 | ) | | 2,031 |
| | 6,965 |
| | 8,996 |
| | 2,421 |
| | 2009 | SONTERRA VILLAGE San Antonio, TX | — |
| | 5,150 |
| | 15,095 |
| | — |
| | 273 |
| | 5,150 |
| | 15,368 |
| | 20,518 |
| | 1,077 |
| | 2015 | STEVENSON RANCH Stevenson Ranch, CA | — |
| | 29,519 |
| | 39,190 |
| | — |
| | — |
| | 29,519 |
| | 39,190 |
| | 68,709 |
| | 2,441 |
| | 2016 | STONECREST MARKETPLACE Lithonia, GA | 37,866 |
| | 6,150 |
| | 23,321 |
| | — |
| | 781 |
| | 6,150 |
| | 24,102 |
| | 30,252 |
| | 6,987 |
| | 2010 | STREETS OF CRANBERRY Cranberry Township, PA | — |
| | 4,300 |
| | 20,215 |
| | — |
| | 8,529 |
| | 4,300 |
| | 28,744 |
| | 33,044 |
| | 10,499 |
| | 2007 | SUNCREST VILLAGE Orlando, FL | 8,400 |
| | 6,742 |
| | 6,403 |
| | — |
| | 284 |
| | 6,742 |
| | 6,687 |
| | 13,429 |
| | 963 |
| | 2014 | SYCAMORE COMMONS Matthews, NC | — |
| | 12,500 |
| | 31,265 |
| | — |
| | 1,402 |
| | 12,500 |
| | 32,667 |
| | 45,167 |
| | 10,338 |
| | 2010 | THE CENTER AT HUGH HOWELL Tucker, GA | — |
| | 2,250 |
| | 11,091 |
| | — |
| | 806 |
| | 2,250 |
| | 11,897 |
| | 14,147 |
| | 4,762 |
| | 2007 | THE PARKE Cedar Park, TX | — |
| | 9,271 |
| | 83,078 |
| | — |
| | — |
| | 9,271 |
| | 83,078 |
| | 92,349 |
| | 977 |
| | 2017 | THE POINTE AT CREEDMOOR Raleigh, NC | — |
| | 7,507 |
| | 5,454 |
| | — |
| | — |
| | 7,507 |
| | 5,454 |
| | 12,961 |
| | 331 |
| | 2016 | THE SHOPS AT TOWN CENTER Germantown, MD | — |
| | 19,998 |
| | 29,776 |
| | — |
| | — |
| | 19,998 |
| | 29,776 |
| | 49,774 |
| | 870 |
| | 2017 | THE SHOPS AT WALNUT CREEK Westminster, CO | 28,630 |
| | 10,132 |
| | 44,089 |
| | — |
| | 1 |
| | 10,132 |
| | 44,090 |
| | 54,222 |
| | 4,398 |
| | 2015 | THOMAS CROSSROADS Newnan, GA | — |
| | 1,622 |
| | 8,322 |
| | — |
| | 747 |
| | 1,622 |
| | 9,069 |
| | 10,691 |
| | 2,878 |
| | 2009 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Initial Cost (A) | | | | | | Gross amount at which carried at end of period | | | PROPERTY NAME Location | Encumbrance | | Land | | Buildings and Improvements | | Adjustments to Land Basis (B) | | Adjustments to Basis (B) | | Land and Improvements | | Buildings and Improvements | | Total (C) | | Accumulated Depreciation (D,E) | | Date of Completion of Construction or Date of Acquisition | TOMBALL TOWN CENTER Tomball, TX | — |
| | 1,938 |
| | 14,233 |
| | 360 |
| | 6,439 |
| | 2,298 |
| | 20,672 |
| | 22,970 |
| | 7,950 |
| | 2005 | TULSA HILLS SHOPPING CENTER Tulsa, OK | — |
| | 8,000 |
| | 42,272 |
| | 4,770 |
| | 10,587 |
| | 12,770 |
| | 52,859 |
| | 65,629 |
| | 13,812 |
| | 2010 | UNIVERSITY OAKS SHOPPING CENTER Round Rock, TX | 27,000 |
| | 7,250 |
| | 25,326 |
| | — |
| | 7,772 |
| | 7,250 |
| | 33,098 |
| | 40,348 |
| | 8,840 |
| | 2010 | WALDEN PARK SHOPPING CENTER Austin, TX | — |
| | 3,183 |
| | 5,278 |
| | — |
| | 63 |
| | 3,183 |
| | 5,341 |
| | 8,524 |
| | 868 |
| | 2013 | WEST CREEK SHOPPING CENTER Austin, TX | — |
| | 5,151 |
| | 8,659 |
| | — |
| | 10 |
| | 5,151 |
| | 8,669 |
| | 13,820 |
| | 1,371 |
| | 2015 | WESTPARK SHOPPING CENTER Glen Allen, VA | — |
| | 7,462 |
| | 24,164 |
| | — |
| | 80 |
| | 7,462 |
| | 24,244 |
| | 31,706 |
| | 2,330 |
| | 2013 | WHITE OAK CROSSING Garner, NC | 52,000 |
| | 19,000 |
| | 70,275 |
| | — |
| | 1,800 |
| | 19,000 |
| | 72,075 |
| | 91,075 |
| | 16,080 |
| | 2011 | WINDERMERE VILLAGE Houston, TX | — |
| | 1,220 |
| | 6,331 |
| | — |
| | 1,203 |
| | 1,220 |
| | 7,534 |
| | 8,754 |
| | 3,273 |
| | 2005 | WINDWARD COMMONS Alpharetta, GA | — |
| | 12,823 |
| | 13,779 |
| | — |
| | 42 |
| | 12,823 |
| | 13,821 |
| | 26,644 |
| | 678 |
| | 2016 | WOODBRIDGE Wylie, TX | — |
| | — |
| | — |
| | 9,509 |
| | 39,824 |
| | 9,509 |
| | 39,824 |
| | 49,333 |
| | 10,860 |
| | 2013 | WOODLAKE CROSSING San Antonio, TX | 7,575 |
| | 3,419 |
| | 14,152 |
| | — |
| | 3,475 |
| | 3,419 |
| | 17,627 |
| | 21,046 |
| | 5,149 |
| | 2009 | Total Corporate Assets | — |
| | — |
| | — |
| | — |
| | 13,881 |
| | — |
| | 13,881 |
| | 13,881 |
| | 7,140 |
| | - | | | | | | | | | | | | | | | | | | | | | Total | $ | 370,804 |
| | $ | 618,946 |
| | $ | 1,784,679 |
| | $ | 9,541 |
| | $ | 102,919 |
| | $ | 628,487 |
| | $ | 1,887,598 |
| | $ | 2,516,085 |
| | $ | 348,337 |
| | |
Notes: The Company had $4,975 of assets included in construction in progress at December 31, 2017, which have been omitted from the prior table. The aggregate cost of real estate owned at December 31, 2017 for Federal income tax purposes was approximately $2,814,722 (unaudited). | | (A) | The initial cost to the Company represents the original purchase price of the asset, including amounts incurred subsequent to acquisition which were contemplated at the time the property was acquired. |
| | (B) | Cost capitalized subsequent to acquisition includes additional tangible costs associated with investment properties, including any earnout of tenant space. Amount also includes impairment charges recorded subsequent to acquisition to reduce basis. |
| | (C) | Reconciliation of real estate owned: |
| | | | | | | | | | | | | | 2017 | | 2016 | | 2015 | Balance at January 1, | $ | 2,180,252 |
| | $ | 2,259,631 |
| | $ | 3,800,865 |
| Acquisitions and capital improvements | 598,843 |
| | 497,646 |
| | 484,776 |
| Disposals and write-offs | (263,010 | ) | | (534,458 | ) | | (220,052 | ) | Properties classified as discontinued operations | — |
| | (42,567 | ) | | (1,805,958 | ) | Balance at December 31, | $ | 2,516,085 |
| | $ | 2,180,252 |
| | $ | 2,259,631 |
|
(D) Reconciliation of accumulated depreciation: | | | | | | | | | | | | | | 2017 | | 2016 | | 2015 | Balance at January 1, | $ | 351,389 |
| | $ | 394,904 |
| | $ | 598,440 |
| Depreciation expense, continuing operations | 70,959 |
| | 63,684 |
| | 66,860 |
| Depreciation expense, properties classified as discontinued operations | 974 |
| | 27,397 |
| | 66,840 |
| Accumulated depreciation expense, properties classified as discontinued operations | — |
| | (2,601 | ) | | (272,294 | ) | Disposal and write-offs | (74,985 | ) | | (131,995 | ) | | (64,942 | ) | Balance at December 31, | $ | 348,337 |
| | $ | 351,389 |
| | $ | 394,904 |
|
(E) Depreciation is computed based upon the following estimated lives: | | | | | Buildings and improvements | 30 years | Tenant improvements | Life of the lease | Furniture, fixtures and equipment | 5 | - | 15 years |
|