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SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
 12 Months Ended
Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2020
thousands  Initial Cost (b)Costs Capitalized Subsequent to Acquisition (c)Gross Amounts at Which Carried at Close of Period (d)   
Name of CenterLocationCenter TypeEncumbrances (a)LandBuildings and Improvements Land (e)Buildings and Improvements (e)(f)LandBuildings and Improvements (f)TotalAccumulated Depreciation (g)Date of ConstructionDate Acquired / Completed
Bridgeland       
BridgelandCypress, TXMPC$75,000 $260,223 $— $226,644 $4,464 $486,867 $4,464 $491,331 $(508)2004
Lakeland Village Center at Bridgeland (h)Cypress, TXRetail14,135 2,404 11,135 — 3,399 2,404 14,534 16,938 (2,035)2016
Lakeside Row Cypress, TXMulti-family31,566 812 42,875 — (1)812 42,874 43,686 (1,953)20182019
Columbia     
Columbia Columbia, MDMPC— 457,552 — (440,927)— 16,625 — 16,625 — 2004
10 - 70 Columbia Corporate Center (h)Columbia, MDOffice99,184 24,685 94,824 — 28,185 24,685 123,009 147,694 (24,724)2012/2014
Columbia Office Properties Columbia, MDOffice— 1,175 14,913 — (769)1,175 14,144 15,319 (6,095)1969/1972
Columbia Regional Building Columbia, MDRetail24,244 — 28,865 — 2,357 — 31,222 31,222 (6,085)2014
Juniper Apartments Columbia, MDMulti-family65,808 — — 3,923 108,771 3,923 108,771 112,694 (2,973)20182020
Lakefront District (i)Columbia, MDDevelopment— 400 80,053 (400)(53,682)— 26,371 26,371 — 2004
Merriweather District Columbia, MDDevelopment— — — — 81,654 — 81,654 81,654 — 2015
Merriweather District Area 3 Standalone Restaurant Columbia, MDRetail— — — 337 16,268 337 16,268 16,605 (28)20192020
One Mall North (h)Columbia, MDOffice12,425 7,822 10,818 — 1,170 7,822 11,988 19,810 (1,425)2016
One Merriweather (h)Columbia, MDOffice42,008 1,433 58,936 — 15,417 1,433 74,353 75,786 (9,039)2017
Two Merriweather Columbia, MDOffice— 1,019 4,931 — 33,856 1,019 38,787 39,806 (3,943)2017
6100 Merriweather Columbia, MDOffice62,040 2,550 112,669 — — 2,550 112,669 115,219 (3,893)20182019
Seaport District     
85 South Street New York, NYMulti-family— 15,913 8,137 — 2,662 15,913 10,799 26,712 (3,985)2014
Seaport Predevelopment New York, NYDevelopment— — 7,641 — 14,536 — 22,177 22,177 — 2013
Tin Building New York, NYDevelopment— — 8,290 — 98,404 — 106,694 106,694 — 2015
Pier 17 New York, NYRetail— — 468,476 — 3,423 — 471,899 471,899 (44,371)20172018
Seaport District Historic Area / Uplands New York, NYRetail— — 7,884 — 114,830 — 122,714 122,714 (17,830)20132016
250 Water Street New York, NYDevelopment100,000 — 179,471 — 370 — 179,841 179,841 — 2018
Summerlin     
Aristocrat (j)Las Vegas, NVOffice37,093 5,004 34,588 — 159 5,004 34,747 39,751 (2,866)20172018
Constellation Apartments Las Vegas, NVMulti-family24,200 3,069 39,759 — — 3,069 39,759 42,828 (4,666)2016
Downtown Summerlin (j)(k)Las Vegas, NVRetail/Office2,121 30,855 364,100 — 26,050 30,855 390,150 421,005 (80,563)2014
Hockey Ground Lease (j)Las Vegas, NVOther113 — — 6,705 2,198 6,705 2,198 8,903 (183)2017
Las Vegas Ballpark (j)(l)Las Vegas, NVOther48,459 — 179 5,318 124,212 5,318 124,391 129,709 (11,484)2019
Two Summerlin (j)Las Vegas, NVOffice87 3,037 47,104 — 1,923 3,037 49,027 52,064 (3,844)20172018
Summerlin Las Vegas, NVMPC31,520 990,179 — (101,227)701 888,952 701 889,653 (354)2004
Tanager Apartments (j)Las Vegas, NVMulti-family39,922 9,633 55,858 — — 9,633 55,858 65,491 (2,813)20172019
The Woodlands     
Creekside Park Apartments The Woodlands, TXMulti-family37,730 729 40,116 — 31 729 40,147 40,876 (3,168)20172018
Creekside Park The Grove (m)The Woodlands, TXDevelopment16,468 — — — 38,771 — 38,771 38,771 — 2019
thousands  Initial Cost (b)Costs Capitalized Subsequent to Acquisition (c)Gross Amounts at Which Carried at Close of Period (d)   
Name of CenterLocationCenter TypeEncumbrances (a)LandBuildings and ImprovementsLand (e)Buildings and Improvements (e)(f)LandBuildings and Improvements (f)TotalAccumulated Depreciation (g)Date of ConstructionDate Acquired / Completed
Creekside Park West The Woodlands, TXRetail14,719 1,228 17,922 — — 1,228 17,922 19,150 (677)20182019
Creekside Village Green (h)The Woodlands, TXRetail17,051 2,551 33,822 (1,228)(17,980)1,323 15,842 17,165 (2,978)2015
Embassy Suites at Hughes Landing (h)The Woodlands, TXHospitality27,970 — 6,752 1,818 36,503 1,818 43,255 45,073 (7,671)2015
HHC 242 Self-Storage The Woodlands, TXOther— 878 6,802 — 1,106 878 7,908 8,786 (809)2017
HHC 2978 Self-Storage The Woodlands, TXOther— 124 5,498 — 2,063 124 7,561 7,685 (740)2017
One Hughes Landing The Woodlands, TXOffice50,815 1,678 34,761 — 394 1,678 35,155 36,833 (10,654)2013
Two Hughes Landing The Woodlands, TXOffice48,000 1,269 34,950 — (3,899)1,269 31,051 32,320 (7,924)2014
Three Hughes Landing The Woodlands, TXOffice— 2,626 46,372 — 32,097 2,626 78,469 81,095 (12,324)2016
1725 Hughes Landing Boulevard (h)The Woodlands, TXOffice56,772 1,351 36,764 — 38,448 1,351 75,212 76,563 (18,671)2015
1735 Hughes Landing Boulevard (h)The Woodlands, TXOffice54,568 3,709 97,651 — (372)3,709 97,279 100,988 (22,033)2015
Hughes Landing Daycare The Woodlands, TXOther— 138 — — — 138 — 138 — 20182019
Hughes Landing Retail The Woodlands, TXRetail34,328 5,184 — — 33,103 5,184 33,103 38,287 (7,524)2015
1701 Lake Robbins (h)The Woodlands, TXRetail3,658 1,663 3,725 — 459 1,663 4,184 5,847 (711)2014
Lake Woodlands Crossing Retail The Woodlands, TXRetail12,329 5,122 11,440 — 65 5,122 11,505 16,627 (938)20172018
2201 Lake Woodlands Drive The Woodlands, TXOffice— 3,755 — — 1,210 3,755 1,210 4,965 (286)1994
Lakefront North The Woodlands, TXOffice— 10,260 39,357 — 11,437 10,260 50,794 61,054 (3,366)2018
One Lakes Edge The Woodlands, TXMulti-family69,440 1,057 81,768 — 418 1,057 82,186 83,243 (13,425)2015
Two Lakes Edge The Woodlands, TXMulti-family66,198 — — 1,870 95,653 1,870 95,653 97,523 (2,826)20182020
Millennium Six Pines Apartments The Woodlands, TXMulti-family42,500 4,000 54,624 7,225 514 11,225 55,138 66,363 (8,942)2014
Millennium Waterway Apartments The Woodlands, TXMulti-family51,946 15,917 56,002 — 2,941 15,917 58,943 74,860 (20,035)2010
The Lane at Waterway (n)The Woodlands, TXMulti-family22,167 — — 2,029 39,246 2,029 39,246 41,275 (134)20192020
8770 New Trails The Woodlands, TXOffice35,417 — — 2,204 34,989 2,204 34,989 37,193 (1,483)20192020
9303 New Trails The Woodlands, TXOffice10,763 1,929 11,915 — 1,322 1,929 13,237 15,166 (3,125)2008
3831 Technology Forest Drive The Woodlands, TXOffice20,686 514 14,194 — 1,813 514 16,007 16,521 (4,824)2014
20/25 Waterway Avenue The Woodlands, TXRetail12,855 2,346 8,871 — (83)2,346 8,788 11,134 (2,320)2007/2009
Waterway Garage Retail The Woodlands, TXRetail— 1,341 4,255 — 997 1,341 5,252 6,593 (1,449)2011
3 Waterway Square The Woodlands, TXOffice46,224 748 — — 40,386 748 40,386 41,134 (12,926)2013
4 Waterway Square The Woodlands, TXOffice31,519 1,430 51,553 — 6,208 1,430 57,761 59,191 (17,736)2010
The Westin at the Woodlands (h)The Woodlands, TXHospitality41,793 22,473 — (20,520)94,634 1,953 94,634 96,587 (14,750)2016
The Woodlands The Woodlands, TXMPC75,000 269,411 9,814 (92,069)7,625 177,342 17,439 194,781 (392)2011
The Woodlands Ground Leases The Woodlands, TXOther— 1,770 — 3,257 — 5,027 — 5,027 — 2011
The Woodlands Parking Garages The Woodlands, TXOther— 5,857 — 1,529 12,022 7,386 12,022 19,408 (2,173)2008/2009
2000 Woodlands Parkway The Woodlands, TXRetail— — — — 655 — 655 655 (118)1997
The Woodlands Resort & Conference Center The Woodlands, TXHospitality62,500 13,258 37,983 — 78,367 13,258 116,350 129,608 (26,496)2014
The Woodlands Towers at the Waterway The Woodlands, TXOffice344,176 11,044 437,561 — 11,860 11,044 449,421 460,465 (14,144)2019
The Woodlands Warehouse The Woodlands, TXOther7,230 4,480 4,389 — — 4,480 4,389 8,869 (179)2019
1400 Woodloch Forest The Woodlands, TXOffice— — — 1,570 15,531 1,570 15,531 17,101 (5,206)1981
The Woodlands Hills
The Woodlands Hills Conroe, TXMPC— 99,284 — 18,448 8 117,732 8 117,740 — 2014
Ward Village
‘A‘ali‘i Honolulu, HIDevelopment154,601 — — — 298,825 — 298,825 298,825 (3,123)2018
thousands   Initial Cost (b)Costs Capitalized Subsequent to Acquisition (c)Gross Amounts at Which Carried at Close of Period (d)   
Name of CenterLocationCenter TypeEncumbrances (a)LandBuildings and ImprovementsLand (e)Buildings and Improvements (e)(f)LandBuildings and Improvements (f)TotalAccumulated Depreciation (g)Date of ConstructionDate Acquired / Completed
Ae‘o Honolulu, HICondominium— 9,795 85,046 (9,795)(83,884)— 1,162 1,162 (58)20162018
Anaha Honolulu, HICondominium— 5,546 47,450 (5,546)(46,353)— 1,097 1,097 (85)20142017
Ke Kilohana Honolulu, HICondominium— 152 12,842 (152)(12,186)— 656 656 (27)20162019
Kewalo Basin Harbor Honolulu, HIOther11,562 — 24,116 — — — 24,116 24,116 (2,462)20172019
Kō'ula Honolulu, HIDevelopment65,282 — — — 130,728 — 130,728 130,728 (2,726)2019
Waiea Honolulu, HICondominium— — 20,812 — (16,849)— 3,963 3,963 (131)20142017
Ward Predevelopment Honolulu, HIDevelopment— — 24,069 — 73,443 — 97,512 97,512 (5,071)2013
Ward Village Retail (h)Honolulu, HIRetail285,295 164,007 89,321 (76,252)293,486 87,755 382,807 470,562 (96,682)2002
Other
Century Park Houston, TXDevelopment— 19,816 36,763 — — 19,816 36,763 56,579 — 2019
Landmark Mall Alexandria, VADevelopment— 28,396 67,235 (28,396)(10,218)— 57,017 57,017 (365)2004
Monarch City Allen, TXDevelopment— 25,575 — (25,575)28,657 — 28,657 28,657 — 2006
Outlet Collection at Riverwalk New Orleans, LARetail28,679 — 94,513 — (35,328)— 59,185 59,185 (18,575)2014
Total excluding Corporate, Deferred financing costs and Unamortized bond issuance costs2,570,166 2,570,176 3,372,534 (519,210)1,869,420 2,050,966 5,241,954 7,292,920 (618,122)
CorporateVarious1,750,000 885 1,027 (885)25,186 — 26,213 26,213 (15,942)
Unamortized bond issuance costsN/A(4,355)— — — — — — — — 
Deferred financing costsN/A(28,442)— — — — — — — — 
Total$4,287,369 $2,571,061 $3,373,561 $(520,095)$1,894,606 $2,050,966 $5,268,167 $7,319,133 $(634,064)
(a)See description of Encumbrances in Note 7 - Mortgages, Notes and Loans Payable, Net of the Consolidated Financial Statements.
(b)Initial cost for projects undergoing development or redevelopment is cost at end of first complete calendar year subsequent to opening.
(c)For retail and other properties, costs capitalized subsequent to acquisitions is net of cost of disposals or other property write‑downs. For MPCs, costs capitalized subsequent to acquisitions are net of the cost of land sales.
(d)The aggregate cost of land, building and improvements for federal income tax purposes is approximately $6.2 billion.
(e)Reductions in Land reflect transfers to Buildings and Improvements for projects which the Company is internally developing.
(f)Includes all amounts related to Developments.
(g)Depreciation is computed based upon the useful lives in Note 1 - Summary of Significant Accounting Policies.
(h)Property is collateral for the Senior Secured Credit Facility. See Note 7 - Mortgages, Notes and Loans Payable, Net of the Consolidated Financial Statements for additional information. The Ward Village Retail line includes $30.5 million related to Ae’o Retail and $9.3 million related to Ke Kilohana retail that are not collateral for the Senior Secured Credit Facility.
(i)Lakefront District includes American City Building acquired in 2016, Ridgley Building acquired in 2017 and Sterrett Place acquired in 2018, all of which have been demolished and now represent future development rights.
(j)Encumbrances balance either represents or is inclusive of SIDs. See Note 7 - Mortgages, Notes and Loans Payable, Net of the Consolidated Financial Statements for additional information.
(k)Downtown Summerlin includes the One Summerlin office property, which was placed in service in 2015.
(l)Includes the Las Vegas Aviators.
(m)Creekside Park Apartments Phase II was renamed to Creekside Park The Grove.
(n)Millennium Phase III Apartments was renamed to The Lane at Waterway.


 
Reconciliation of Real Estate
thousands202020192018
Balance as of January 1, $7,268,288 $6,163,287 $5,355,409 
Change in land228,402 239,558 199,069 
Additions716,614 1,513,888 1,148,826 
Impairments(48,738)— — 
Dispositions and write-offs and land and condominium costs of sales(845,433)(648,445)(540,017)
Balance as of December 31, $7,319,133 $7,268,288 $6,163,287 
 
Reconciliation of Accumulated Depreciation
thousands202020192018
Balance as of January 1, $507,933 $380,892 $321,882 
Depreciation Expense198,556 143,698 113,518 
Dispositions and write-offs(72,425)(16,657)(54,508)
Balance as of December 31,$634,064 $507,933 $380,892