Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2012

Real Estate and Accumulated Depreciation

Wheeler Real Estate Investment Trust, Inc. and Subsidiaries

Schedule III-Real Estate and Accumulated Depreciation

December 31, 2012

	Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount at which Carried at End of Period
Property Name	Land		Building and Improvements		Improvements (net)		Carrying Costs		Land		Building and Improvements		Total
Amscot Building	$	—	$	461,700	$	18,202	$	—	$	—	$	479,902	$	479,902
Harps at Harbor Point		1,093,507		2,891,853		—		—		1,093,507		2,891,853		3,985,360
Lumber River Village		800,413		4,486,787		—		—		800,413		4,486,787		5,287,200
Monarch Bank		496,591		1,908,659		77,704		—		496,591		1,986,363		2,482,954
Perimeter Square		1,566,431		5,081,193		—		—		1,566,431		5,081,193		6,647,624
Riversedge North		909,898		2,207,571		17,813		—		909,898		2,225,384		3,135,282
Surrey Plaza		380,731		1,856,515		—		—		380,731		1,856,515		2,237,246
The Shoppes at TJ Maxx		2,115,119		6,719,386		—		—		2,115,119		6,719,386		8,834,505
The Shoppes at Eagle Harbor		785,040		4,219,464		238,339		—		785,040		4,457,803		5,242,843
Twin City Crossing		800,272		3,040,956		—		—		800,272		3,040,956		3,841,228
Walnut Hill Plaza		733,748		2,413,832		1,315,497		—		733,748		3,729,329		4,463,077
Totals	$	9,681,750	$	35,287,916	$	1,667,555	$	—	$	9,681,750	$	36,955,471	$	46,637,221

Wheeler Real Estate Investment Trust, Inc. and Subsidiaries

Schedule III-Real Estate and Accumulated Depreciation

Property Name	Encumbrances	Accumulated Depreciation		Date of Construction		Date Acquired		Depreciation Life
Amscot Building		$	134,531		5/15/2004				5-40 years
Harps at Harbor Point	(1)		7,612				12/14/2012		5-40 years
Lumber River Village	(2)		11,168				11/16/2012		5-40 years
Monarch Bank	(3)		845,267				12/28/2007		5-40 years
Perimeter Square	(4)		18,196				11/16/2012		5-40 years
Riversedge North	(5)		628,060		4/17/2008				5-40 years
Surrey Plaza			1,382				12/21/2012		5-40 years
The Shoppes at TJ Maxx	(6)		27,700				11/16/2012		5-40 years
The Shoppes at Eagle Harbor	(7)		507,242		9/9/2008				5-40 years
Twin City Crossing	(8)		1,742				12/18/2012		5-40 years
Walnut Hill Plaza	(9)		1,108,656				12/14/2007		5-40 years
Totals		$	3,291,556
		2012		2011
Balance at beginning of period		$	15,774,838	$	15,741,491
Additions during the period:
Acquisitions			30,815,046		—
Improvements			47,337		33,347
Balance at end of period		$	46,637,221	$	15,774,838

(1) This property secures a $3.42 million mortgage note.

(2) This property secures a $3.19 million mortgage note.

(3) This property secures a $1.53 million mortgage note.

(4) This property secures a $4.50 million mortgage note.

(5) This property secures a $2.24 million mortgage note.

(6) This property secures a $6.40 million mortgage note.

(7) This property secures a $4.00 million mortgage note.

(8) This property secures a $3.38 million mortgage note.

(9) This property secures a $4.30 million mortgage note.