SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2023

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, 2023

					Initial Cost (b)				Costs Capitalized Subsequent to Acquisition (c)				Gross Amounts at Which Carried at Close of Period (d)
Name of Center thousands	Location	Center Type	Encumbrances (a)		Land		Buildings and Improvements		Land (e)		Buildings and Improvements (e)		Land		Buildings and Improvements (f)		Total		Accumulated Depreciation (f)		Date of Construction	Date Acquired / Completed
Bridgeland
Bridgeland	Cypress, TX	MPC	$	475,000	$	260,223	$	—	$	272,809	$	1,720	$	533,032	$	1,720	$	534,752	$	(860)		2004
Bridgeland Predevelopment	Cypress, TX	Development	—		—		10,904		—		—		—		10,904		10,904		—
Houston Ground Leases - Bridgeland	Cypress, TX	Other	—		3,935		—		—		—		3,935		—		3,935		—			Various
Lakeland Village Center at Bridgeland	Cypress, TX	Retail	—		2,404		11,135		—		3,489		2,404		14,624		17,028		(3,258)		2015	2016
Lakeside Row	Cypress, TX	Multi-family	35,500		812		42,875		—		703		812		43,578		44,390		(7,496)		2018	2019
Starling at Bridgeland	Cypress, TX	Multi-family	37,946		1,511		57,505		—		—		1,511		57,505		59,016		(2,459)		2021	2022
Wingspan	Cypress, TX	Multi-family	27,827		1,214		63,680		—		—		1,214		63,680		64,894		(368)		2022	2023
Columbia (g)
Color Burst Park Retail (h)	Columbia, MD	Retail	—		337		6,945		10		2,157		347		9,102		9,449		(832)		2019	2020
Columbia Office Properties (i)	Columbia, MD	Office	—		1,175		14,394		—		(1,294)		1,175		13,100		14,275		(6,730)			2004 / 2007
Columbia Parking Garages (i)	Columbia, MD	Other	—		—		42,940		—		(157)		—		42,783		42,783		(5,794)		Various	Various
Columbia Predevelopment	Columbia, MD	Development	—		—		36,236		—		—		—		36,236		36,236		—
Juniper	Columbia, MD	Multi-family	117,000		3,923		112,435		—		7,124		3,923		119,559		123,482		(16,230)		2018	2020
10285 Lakefront Medical Office (h)	Columbia, MD	Development	4,400		—		27,195		—		—		—		27,195		27,195		—		2022
Lakefront District	Columbia, MD	Development	—		400		80,053		(400)		(45,892)		—		34,161		34,161		—			Various
One Mall North	Columbia, MD	Office	6,855		7,822		10,818		—		2,035		7,822		12,853		20,675		(5,860)			2016
Marlow	Columbia, MD	Multi-family	72,823		4,088		130,083		—		—		4,088		130,083		134,171		(5,048)		2021	2022
6100 Merriweather (i)	Columbia, MD	Office	76,000		2,550		86,867		—		2,762		2,550		89,629		92,179		(12,987)		2018	2019
One Merriweather (i)	Columbia, MD	Office	49,800		1,433		56,125		—		1,617		1,433		57,742		59,175		(14,592)		2015	2017
Two Merriweather	Columbia, MD	Office	25,600		1,019		33,016		—		5,302		1,019		38,318		39,337		(7,877)		2016	2017
Merriweather District	Columbia, MD	Development	—		—		76,808		—		8,492		—		85,300		85,300		—			2015
Merriweather Row (h)	Columbia, MD	Office	67,265		24,685		94,824		—		51,706		24,685		146,530		171,215		(38,982)			2012/2014
Rouse Building (h)	Columbia, MD	Retail	22,865		—		28,865		—		3,063		—		31,928		31,928		(9,198)		2013	2014
Teravalis
Teravalis	Phoenix, AZ	MPC	—		544,546		312		278		4		544,824		316		545,140		(58)			2021
Seaport
Historic District Area / Uplands	New York, NY	Retail	—		—		7,884		—		66,012		—		73,896		73,896		(30,799)		2013	2016
Pier 17	New York, NY	Retail	—		—		468,476		—		(218,115)		—		250,361		250,361		(109,036)		2013	2018
85 South Street	New York, NY	Multi-family	—		15,913		8,137		(11,735)		(563)		4,178		7,574		11,752		(6,248)			2014
Tin Building	New York, NY	Retail	—		—		61,872		—		—		—		61,872		61,872		(13,963)		2017	2022
250 Water Street	New York, NY	Development	115,000		—		179,471		—		(83,450)		—		96,021		96,021		—			2018
199 Water Street, 28th Floor (j)	New York, NY	Lease	—		—		14,054		—		782		—		14,836		14,836		(12,563)		Various	Various
Summerlin
Aristocrat	Las Vegas, NV	Office	33,987		5,004		34,588		—		152		5,004		34,740		39,744		(6,801)		2017	2018
Constellation	Las Vegas, NV	Multi-family	24,200		3,069		39,759		—		2,264		3,069		42,023		45,092		(9,339)			2017
Downtown Summerlin (k)(l)	Las Vegas, NV	Retail/Office	1,732		30,855		364,100		—		30,257		30,855		394,357		425,212		(128,533)		2013	2014 / 2015
Hockey Ground Lease (k)	Las Vegas, NV	Other	161		—		—		6,705		2,198		6,705		2,198		8,903		(348)			2017
Las Vegas Ballpark (m)	Las Vegas, NV	Other	42,990		5,318		124,391		—		2,222		5,318		126,613		131,931		(30,599)		2018	2019
Meridian (h)	Las Vegas, NV	Development	—		—		37,533		—		—		—		37,533		37,533		—		2022
1700 Pavilion (k)	Las Vegas, NV	Office	57,460		1,700		101,760		—		—		1,700		101,760		103,460		(3,149)		2021	2022

				Initial Cost (b)		Costs Capitalized Subsequent to Acquisition (c)		Gross Amounts at Which Carried at Close of Period (d)
Name of Center thousands	Location	Center Type	Encumbrances (a)	Land	Buildings and Improvements	Land (e)	Buildings and Improvements (e)	Land	Buildings and Improvements (f)	Total	Accumulated Depreciation (f)	Date of Construction	Date Acquired / Completed
Two Summerlin (k)	Las Vegas, NV	Office	40,865	3,037	47,104	—	1,999	3,037	49,103	52,140	(10,810)	2017	2018
Summerlin (k)	Las Vegas, NV	MPC	63,322	990,179	—	89,747	1,076	1,079,926	1,076	1,081,002	(619)		2004
Summerlin Grocery Anchored Center (k)	Las Vegas, NV	Development	114	—	10,460	—	—	—	10,460	10,460	—	2023
Summerlin Predevelopment	Las Vegas, NV	Development	—	—	12,796	—	—	—	12,796	12,796	—
Tanager (k)	Las Vegas, NV	Multi-family	58,633	7,331	53,978	—	351	7,331	54,329	61,660	(9,422)	2017	2019
Tanager Echo (k)	Las Vegas, NV	Multi-family	59,007	2,302	85,329	—	—	2,302	85,329	87,631	(1,750)	2021	2023
The Woodlands
Creekside Park	The Woodlands, TX	Multi-family	37,615	729	40,116	—	891	729	41,007	41,736	(8,400)	2017	2018
Creekside Park Medical Plaza (n)	The Woodlands, TX	Office	—	306	8,361	—	—	306	8,361	8,667	(241)	2022	2022
Creekside Park The Grove	The Woodlands, TX	Multi-family	57,000	1,876	52,382	—	213	1,876	52,595	54,471	(5,518)	2019	2021
Creekside Park West	The Woodlands, TX	Retail	15,969	1,228	17,922	—	1,122	1,228	19,044	20,272	(2,603)	2018	2019
Houston Ground Leases - The Woodlands	The Woodlands, TX	Other	—	14,582	2,582	—	—	14,582	2,582	17,164	(275)		Various
One Hughes Landing	The Woodlands, TX	Office	46,938	1,678	34,761	—	(3,193)	1,678	31,568	33,246	(10,614)	2012	2013
Two Hughes Landing	The Woodlands, TX	Office	45,445	1,269	34,950	—	(2,692)	1,269	32,258	33,527	(11,483)	2013	2014
Three Hughes Landing	The Woodlands, TX	Office	70,000	2,626	46,372	—	32,342	2,626	78,714	81,340	(23,027)	2014	2016
1725 Hughes Landing Boulevard	The Woodlands, TX	Office	61,221	1,351	36,764	—	24,841	1,351	61,605	62,956	(16,959)	2013	2015
1735 Hughes Landing Boulevard	The Woodlands, TX	Office	59,134	3,709	97,651	—	(305)	3,709	97,346	101,055	(34,797)	2013	2015
Hughes Landing Daycare	The Woodlands, TX	Other	—	138	—	—	—	138	—	138	—	2018	2019
Hughes Landing Retail	The Woodlands, TX	Retail	32,166	5,184	32,562	—	803	5,184	33,365	38,549	(11,027)	2013	2015
1701 Lake Robbins	The Woodlands, TX	Retail	—	1,663	3,725	—	856	1,663	4,581	6,244	(1,139)		2014
2201 Lake Woodlands Drive	The Woodlands, TX	Office	—	3,755	—	—	1,210	3,755	1,210	4,965	(658)		2011
Lakefront North	The Woodlands, TX	Office	50,000	10,260	39,357	—	17,535	10,260	56,892	67,152	(10,798)		2018
One Lakes Edge	The Woodlands, TX	Multi-family	66,370	1,057	81,768	—	901	1,057	82,669	83,726	(22,839)	2013	2015
Two Lakes Edge	The Woodlands, TX	Multi-family	105,000	1,870	96,349	—	962	1,870	97,311	99,181	(14,517)	2018	2020
Millennium Six Pines	The Woodlands, TX	Multi-family	42,234	4,000	54,624	7,225	1,024	11,225	55,648	66,873	(15,426)		2016
Millennium Waterway	The Woodlands, TX	Multi-family	51,000	15,917	56,002	—	2,494	15,917	58,496	74,413	(25,240)		2012
8770 New Trails	The Woodlands, TX	Office	34,857	2,204	35,033	—	80	2,204	35,113	37,317	(6,358)	2019	2020
9303 New Trails	The Woodlands, TX	Office	7,352	1,929	11,915	—	1,618	1,929	13,533	15,462	(4,340)		2011
1 Riva Row	The Woodlands, TX	Development	1	—	18,385	—	—	—	18,385	18,385	—	2023
3831 Technology Forest Drive	The Woodlands, TX	Office	19,192	514	14,194	—	1,813	514	16,007	16,521	(7,258)	2014	2014
The Lane at Waterway	The Woodlands, TX	Multi-family	37,500	2,029	40,033	—	456	2,029	40,489	42,518	(5,186)	2019	2020
The Woodlands	The Woodlands, TX	MPC	—	269,411	9,814	(96,758)	(9,744)	172,653	70	172,723	(70)		2011
The Woodlands Parking Garages	The Woodlands, TX	Other	—	5,857	—	2,497	15,066	8,354	15,066	23,420	(3,832)		2011 / 2013
The Woodlands Predevelopment	The Woodlands, TX	Development	—	—	49,643	—	—	—	49,643	49,643	(1,193)
The Woodlands Towers at the Waterway (o)	The Woodlands, TX	Office	362,537	11,044	437,561	—	38,140	11,044	475,701	486,745	(62,368)		2019
The Woodlands Warehouse	The Woodlands, TX	Other	13,700	4,480	4,389	—	103	4,480	4,492	8,972	(718)		2019
20/25 Waterway Avenue	The Woodlands, TX	Retail	14,500	2,346	8,871	—	575	2,346	9,446	11,792	(3,088)		2011
3 Waterway Square	The Woodlands, TX	Office	41,610	748	42,214	—	(2,758)	748	39,456	40,204	(16,477)	2012	2013
4 Waterway Square	The Woodlands, TX	Office	21,530	1,430	51,553	—	7,610	1,430	59,163	60,593	(22,918)		2011
Waterway Square Retail (h)	The Woodlands, TX	Retail	—	1,341	4,255	—	1,314	1,341	5,569	6,910	(1,802)		2011
1400 Woodloch Forest	The Woodlands, TX	Office	—	1,570	13,023	—	5,538	1,570	18,561	20,131	(7,171)		2011
The Woodlands Hills
The Woodlands Hills	Conroe, TX	MPC	—	99,284	—	15,955	43	115,239	43	115,282	(23)		2014

					Initial Cost (b)				Costs Capitalized Subsequent to Acquisition (c)				Gross Amounts at Which Carried at Close of Period (d)
Name of Center thousands	Location	Center Type	Encumbrances (a)		Land		Buildings and Improvements		Land (e)		Buildings and Improvements (e)		Land		Buildings and Improvements (f)		Total		Accumulated Depreciation (f)		Date of Construction	Date Acquired / Completed
Ward Village
‘A‘ali‘i	Honolulu, HI	Condominium	—		—		714		—		1,188		—		1,902		1,902		(47)		2018	2021
Ae‘o	Honolulu, HI	Condominium	—		—		1,162		—		—		—		1,162		1,162		(146)		2016	2018
Anaha	Honolulu, HI	Condominium	—		—		1,097		—		—		—		1,097		1,097		(167)		2014	2017
Ke Kilohana	Honolulu, HI	Condominium	—		—		656		—		—		—		656		656		(77)		2016	2019
Kewalo Basin Harbor	Honolulu, HI	Other	10,984		—		24,116		—		(786)		—		23,330		23,330		(5,960)		2017	2019
Kō‘ula	Honolulu, HI	Condominium	—		—		1,184		—		—		—		1,184		1,184		(43)		2019	2022
The Park Ward Village	Honolulu, HI	Development	41,242		—		156,957		—		—		—		156,957		156,957		(3,427)		2022
Ulana Ward Village	Honolulu, HI	Development	31,527		—		115,061		—		—		—		115,061		115,061		(594)		2023
Victoria Place	Honolulu, HI	Development	197,017		—		373,729		—		—		—		373,729		373,729		(6,210)		2021
Waiea	Honolulu, HI	Condominium	—		—		1,206		—		417		—		1,623		1,623		(253)		2014	2017
Ward Predevelopment	Honolulu, HI	Development	37,617		—		193,023		—		—		—		193,023		193,023		(7,771)		2013
Ward Village Retail	Honolulu, HI	Retail	175,000		164,548		138,723		(105,692)		289,422		58,856		428,145		487,001		(132,829)			Various
Total excluding Corporate and Deferred financing costs			3,302,610		2,568,718		5,160,466		180,641		277,115		2,749,359		5,437,581		8,186,940		(1,028,495)
Corporate	Various		2,050,000		885		1,027		(885)		11,513		—		12,540		12,540		(3,731)
Deferred financing costs	N/A		(49,990)
		Total	$	5,302,620	$	2,569,603	$	5,161,493	$	179,756	$	288,628	$	2,749,359	$	5,450,121	$	8,199,480	$	(1,032,226)

(a)Refer to Note 7 - Mortgages, Notes, and Loans Payable, Net for additional information.

(b)Initial cost for projects undergoing development or redevelopment is cost through the end of first complete calendar year subsequent to the asset being placed in service.

(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 $7.3 billion.

(e)Reductions in Land reflect transfers to Buildings and Improvements for projects which the Company is internally developing.

(f)Depreciation is based upon the useful lives in Note 1 - Presentation of Financial Statements and Significant Accounting Policies.

(g)Columbia MPC land development is complete, and the sale of remaining land or development of additional commercial assets will occur as the market dictates. As such, the remaining Columbia land was transferred to the Strategic Developments segment in the first quarter of 2023.

(h)In 2023, the Company rebranded Color Burst Park Retail (formerly Merriweather District Area 3 Retail), 10285 Lakefront Medical Office (formerly South Lake Medical Office Building), Merriweather Row (formerly 10 - 70 Columbia Corporate Center), Rouse Building (formerly Columbia Regional Building), Meridian (formerly Summerlin South Office), and Waterway Square Retail (formerly Waterway Garage Retail).

(i)In 2023, the Company reclassed the freestanding Columbia Parking Garages from Columbia Office Properties, 6100 Merriweather, and One Merriweather to Columbia Parking Garages.

(j)The 199 Water Street, 28th Floor line relates to tenant improvement for the Seaport office lease.

(k)Encumbrances balance either represents or is inclusive of SIDs.

(l)Downtown Summerlin includes the One Summerlin office property, which was placed in service in 2015.

(m)Includes the Las Vegas Aviators.

(n)Subsequent to period end, in February 2024, the Company completed the sale of Creekside Park Medical Plaza, a 32,689 square-foot medical office building in The Woodlands, Texas, for $14.0 million.

(o)The Woodlands Towers at the Waterway includes 1201 Lake Robbins and 9950 Woodloch Forest.

Reconciliation of Real Estate
thousands	2023		2022		2021
Balance at January 1	$	8,095,172	$	7,776,555	$	7,319,133
Change in land	403,633		396,125		896,508
Additions	817,308		750,610		657,760
Impairments	(672,492)		—		(13,068)
Dispositions, write-offs, and land and condominium costs of sales	(444,141)		(828,118)		(1,083,778)
Balance at December 31	$	8,199,480	$	8,095,172	$	7,776,555

Reconciliation of Accumulated Depreciation
thousands	2023		2022		2021
Balance at January 1	$	867,700	$	743,311	$	634,064
Depreciation Expense	195,630		180,201		185,418
Dispositions and write-offs	(31,104)		(55,812)		(76,171)
Balance at December 31	$	1,032,226	$	867,700	$	743,311