XML 53 R29.htm IDEA: XBRL DOCUMENT v3.20.4
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
Initial Costs (2)
Costs Capitalized Subsequent to Acquisition (3)
Gross Amount
Carried at
December 31, 2020
(4) (5)
Accumulated Depreciation (4) (6)
IndustryNumber of Properties
Encumbrances at
December 31, 2020 (1)
LandBuildings, Fixtures and ImprovementsDate AcquiredDate of Construction
Administration & Support Services3$— $6,537 $35,797 $(4,501)$37,833 $(7,967)9/28/2012 - 7/2/20141954 - 1986
Agricultural2— 1,727 13,422 — 15,149 (4,280)11/5/2013 - 2/7/20142005 - 2009
Education3— 3,170 22,706 (3,435)22,441 (4,739)11/5/2013 - 2/7/20141997 - 2000
Entertainment & Recreation384,749 100,708 356,032 2,048 458,788 (63,432)9/24/2013 - 2/3/20201979 - 2019
Finance149128,114 88,122 360,180 (10,518)437,784 (112,279)8/1/2010 - 2/7/20141880 - 2009
Government & Public Services72,600 4,587 38,090 (2,244)40,433 (12,387)12/13/2011 - 6/12/20141988 - 2011
Healthcare617,751 15,368 107,840 3,072 126,280 (46,970)11/21/2012 - 9/30/20141980 - 2014
Information & Communication410,367 5,652 56,729 4,076 66,457 (18,827)6/27/2013 - 9/24/20141986 - 2002
Insurance758,798 29,184 236,424 3,772 269,380 (64,530)11/5/2013 - 2/7/20142007 - 2012
Logistics4426,100 50,877 299,486 29,358 379,721 (123,707)9/27/2011 - 5/8/20151986 - 2013
Manufacturing48150,748 92,446 946,216 (18,831)1,019,831 (255,355)4/25/2012 - 11/24/20201950 - 2020
Mining & Natural Resources4— 1,727 14,644 (2,858)13,513 (3,013)6/12/2014 - 9/25/20142012 - 2014
Other Services2— 2,937 30,794 (987)32,744 (6,645)11/5/2013 - 10/9/20182014 - 2018
Professional Services3397,217 47,520 358,603 8,713 414,836 (122,043)11/16/2012 - 6/30/20141951 - 2014
Rental56— 25,044 77,794 (626)102,212 (19,145)2/7/2014 - 12/30/20201960 - 2009
Restaurants - Casual Dining54530,860 406,606 936,599 (18,142)1,325,063 (291,230)11/13/2012 - 6/26/20171965 - 2012
Restaurants - Quick Service891— 412,840 803,854 (37,032)1,179,662 (277,662)7/27/2012 - 5/16/20141926 - 2013
Retail - Apparel & Jewelry1145,872 20,420 161,347 — 181,767 (51,647)5/17/2013 - 11/10/20201980 - 2020
Retail - Department Stores127,705 28,136 77,084 304 105,524 (22,311)3/28/2013 - 7/16/20141982 - 2011
Retail - Discount81081,232 201,144 711,594 49,993 962,731 (240,707)10/31/2011 - 12/21/20181940 - 2019
Retail - Electronics & Appliances12— 26,192 93,769 5,029 124,990 (20,429)2/7/2014 - 12/18/20191991 - 2012
Retail - Gas & Convenience175— 107,424 258,729 (852)365,301 (76,670)5/4/2012 - 10/15/20201922 - 2016
Retail - Grocery & Supermarket6569,243 109,371 437,514 551 547,436 (128,939)9/27/2012 - 7/17/20191965 - 2018
Retail - Hobby, Books & Music11— 24,569 113,995 505 139,069 (14,534)2/7/2014 - 6/20/20191986 - 2014
Initial Costs (2)
Costs Capitalized Subsequent to Acquisition (3)
Gross Amount
Carried at
December 31, 2020
(4) (5)
Accumulated Depreciation (4) (6)
IndustryNumber of Properties
Encumbrances at
December 31, 2020 (1)
LandBuildings, Fixtures and ImprovementsDate AcquiredDate of Construction
Retail - Home & Garden10576,815 187,171 508,529 3,545 699,245 (132,185)11/9/2009 - 12/23/20201960 - 2018
Retail - Home Furnishings511,194 78,530 225,249 (4,828)298,951 (25,843)9/26/2012 - 12/23/20201964 - 2020
Retail - Internet140,800 1,995 54,332 — 56,327 (15,984)2/7/20142011
Retail - Medical Services586,615 16,817 103,492 (2,846)117,463 (30,681)8/1/2010 - 9/30/20141955 - 2013
Retail - Motor Vehicle22821,630 107,294 483,183 3,360 593,837 (155,326)9/30/2011 - 3/13/20201961 - 2018
Retail - Office Supply2— 2,698 5,806 — 8,504 (1,664)2/7/20142010 - 2012
Retail - Pet Supply1651,250 30,025 166,076 751 196,852 (42,694)2/7/2014 - 1/5/20181996 - 2017
Retail - Pharmacy196196,141 202,670 671,059 (22,469)851,260 (223,869)10/5/2011 - 6/24/20141980 - 2013
Retail - Specialty (Other)81,454 8,390 38,788 797 47,975 (13,383)4/19/2013 - 6/26/20142010 - 2014
Retail - Sporting Goods2712,255 62,693 241,454 55 304,202 (47,748)7/31/2012 - 12/23/20201988 - 2020
Retail - Warehouse Clubs1574,897 64,195 232,949 407 297,551 (65,057)2/20/2013 - 2/7/20141989 - 2006
Other (7)
15091,038 168,741 779,435 (58,123)890,053 (176,252)8/1/2010 - 12/10/20201818 - 2017
3,795 $1,305,445 $2,743,527 $10,059,594 $(71,956)$12,731,165 $(2,920,134)
_______________________________________________

(1)Excludes a $27.8 million mortgage loan secured by a property classified as held for sale, which will not be transferred to the buyer in the sale transaction .
(2)Initial costs exclude subsequent impairment charges.
(3)Consists of capital expenditures and real estate development costs, net of condemnations, easements and impairment charges.
(4)Gross intangible lease assets of $1.9 billion and the associated accumulated amortization of $943.6 million are not reflected in the table above.
(5)The aggregate cost for Federal income tax purposes of land, buildings, fixtures and improvements as of December 31, 2020 was $13.4 billion.
(6)Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings and five to 15 years for building fixtures and improvements.
(7)Includes eight anchored shopping centers and 20 properties with tenants in multiple industries.
The following is a reconciliation of the gross real estate activity for the years ended December 31, 2020, 2019 and 2018 (in thousands):
Year Ended December 31,
202020192018
Balance, beginning of year$12,939,229 $13,592,440 $13,577,700 
Additions:
Acquisitions275,581 351,135 437,227 
Improvements31,314 56,446 31,898 
Deductions/Other:
Dispositions(340,290)(947,403)(368,808)
Impairments(102,941)(81,078)(84,278)
Reclassified to assets held for sale(71,481)(33,724)(2,997)
Other(247)1,413 1,698 
Balance, end of year$12,731,165 $12,939,229 $13,592,440 
The following is a reconciliation of the accumulated depreciation for the years ended December 31, 2020, 2019 and 2018 (in thousands):
Year Ended December 31,
202020192018
Balance, beginning of year$2,727,099 $2,622,879 $2,217,108 
Additions:
Depreciation expense318,535 352,531 497,511 
Deductions/Other:
Dispositions(65,930)(201,319)(57,346)
Impairments(42,346)(34,847)(32,147)
Reclassified to assets held for sale(15,652)(7,602)(400)
Other(1,572)(4,543)(1,847)
Balance, end of year$2,920,134 $2,727,099 $2,622,879