SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

A summary of the properties owned by us is as follows:


Retail
Carmel Country Plaza	Gateway Marketplace	Alamo Quarry Market
Carmel Mountain Plaza	Del Monte Center	Hassalo on Eighth - Retail
South Bay Marketplace	Geary Marketplace
Lomas Santa Fe Plaza	The Shops at Kalakaua
Solana Beach Towne Centre	Waikele Center


Office
La Jolla Commons	One Beach Street	Corporate Campus East III
Torrey Reserve Campus	First & Main	Bel-Spring 520
Torrey Point	Lloyd Portfolio
Solana Crossing	City Center Bellevue
The Landmark at One Market	Eastgate Office Park


Multifamily
Loma Palisades			Hassalo on Eighth - Multifamily
Imperial Beach Gardens
Mariner's Point
Santa Fe Park RV Resort
Pacific Ridge Apartments


Mixed-Use
Waikiki Beach Walk Retail and Embassy Suites™ Hotel


Held for Development and Construction in Progress
La Jolla Commons - Construction in Progress
Solana Crossing – Land
Lloyd Portfolio – Construction in Progress

A summary of our real estate investments is as follows (in thousands):


	Retail		Office		Multifamily		Mixed-Use		Total
December 31, 2023
Land	$	254,016	$	297,947	$	72,668	$	76,635	$	701,266
Buildings	531,042		1,325,835		401,536		130,493		2,388,906
Land improvements	52,393		16,108		8,414		2,606		79,521
Tenant improvements	94,571		228,253		—		2,913		325,737
Furniture, fixtures, and equipment	1,321		6,123		20,323		18,069		45,836
Construction in progress (1)	7,306		189,417		3,676		103		200,502
	940,649		2,063,683		506,617		230,819		3,741,768
Accumulated depreciation	(377,117)		(449,360)		(145,384)		(64,592)		(1,036,453)
Net real estate	$	563,532	$	1,614,323	$	361,233	$	166,227	$	2,705,315
December 31, 2022
Land	$	254,016	$	298,007	$	72,668	$	76,635	$	701,326
Buildings	529,589		1,316,916		397,731		129,470		2,373,706
Land improvements	49,512		15,284		8,132		2,606		75,534
Tenant improvements	92,225		221,163		—		2,353		315,741
Furniture, fixtures, and equipment	1,290		5,530		19,059		15,427		41,306
Construction in progress (1)	7,471		151,734		3,739		912		163,856
	934,103		2,008,634		501,329		227,403		3,671,469
Accumulated depreciation	(354,884)		(393,155)		(130,336)		(58,538)		(936,913)
Net real estate	$	579,219	$	1,615,479	$	370,993	$	168,865	$	2,734,556

(1) Land related to held for development and construction in progress is included in the Held for Development and Construction in Progress classifications on the consolidated balance sheets.

Summary of Consolidated Statements of Cash Flows - Supplemental Disclosures

The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):


	Year Ended December 31,
	2023		2022		2021
Supplemental cash flow information
Total interest costs incurred	$	72,479	$	63,997	$	61,578
Interest capitalized	$	7,773	$	5,765	$	2,991
Interest expense, net	$	64,706	$	58,232	$	58,587
Cash paid for interest, net of amounts capitalized	$	62,003	$	56,060	$	50,970
Cash paid for income taxes	$	1,427	$	865	$	356
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued liabilities for construction in progress	$	16,103	$	20,832	$	18,697
Accrued leasing commissions	$	1,726	$	2,442	$	2,628