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Schedule III - Real Estate Investments

12 Months Ended

Dec. 31, 2019

Schedule III - Real Estate Investments [Abstract]

Schedule III - Real Estate Investments

QTS REALTY TRUST, INC.

QUALITYTECH, LP

SCHEDULE III – REAL ESTATE INVESTMENTS

December 31, 2019



		Initial Costs									Costs Capitalized Subsequent to Acquisition									Gross Carrying Amount
As of December 31, 2019																													Accumulated
(dollars in thousands)					Buildings and			Construction						Buildings and			Construction						Buildings and			Construction			Depreciation and			Date of
Property Location		Land			Improvements			in Progress			Land			Improvements			in Progress			Land			Improvements			in Progress			Amortization ⁽¹⁾			Acquisition
Owned Properties
Atlanta, Georgia Campus ⁽²⁾		$	12,647		$	35,473		$	2,209		$	31,941		$	489,827		$	126,721		$	44,588		$	525,300		$	128,930		$	(190,566)		10/3/2006
Irving, Texas			—			5,808			—			8,606			363,919			98,170			8,606			369,727			98,170			(59,719)		2/8/2013
Richmond, Virginia			2,000			11,200			7,029			180			184,484			132,919			2,180			195,684			139,948			(74,056)		3/20/2010 & 11/15/2019
Chicago, Illinois			—			—			17,764			9,400			205,026			69,114			9,400			205,026			86,878			(19,760)		7/8/2014
Suwanee, Georgia (Atlanta-Suwanee)			1,395			29,802			—			2,126			144,322			5,559			3,521			174,124			5,559			(78,510)		9/1/2005
Piscataway, New Jersey			7,466			80,366			13,900			—			23,187			22,156			7,466			103,553			36,056			(10,634)		6/6/2016
Santa Clara, California			—			15,838			—			—			98,661			1,238			—			114,499			1,238			(46,536)		11/1/2007
Sacramento, California			1,481			52,753			—			—			12,505			163			1,481			65,258			163			(13,905)		12/21/2012
Fort Worth, Texas			136			610			48,984			8,943			54,408			(13,262)			9,079			55,018			35,722			(3,240)		12/16/2016
Princeton, New Jersey			20,700			32,126			—			—			3,066			39			20,700			35,192			39			(5,107)		6/30/2014
Dulles, Virginia			3,154			29,583			—			—			19,068	⁽³⁾		4,688			3,154			48,651			4,688			(11,831)	⁽³⁾	10/6/2017
Ashburn, Virginia ⁽⁴⁾			—			—			75,371			16,476			156,396			114,004			16,476			156,396			189,375			(7,363)		8/9/2017 & 10/23/2017 & 7/22/2019
Eemshaven, Netherlands			—			—			29,915			—			—			7,352			—			—			37,267			—		4/23/2019
Phoenix, Arizona ⁽⁴⁾			—			—			24,668			—			2,412			7,172			—			2,412			31,840			(1,489)		8/11/2017
Groningen, Netherlands			1,743			8,640			—			(2)			445			3,028			1,741			9,085			3,028			(451)		4/23/2019
Hillsboro, Oregon ⁽⁴⁾			—			—			25,657			—			—			37,916			—			—			63,573			—		10/3/2017
Miami, Florida			1,777			6,955			—			—			24,486			119			1,777			31,441			119			(12,419)		3/6/2008
Lenexa, Kansas			400			3,100			—			36			734			—			436			3,834			—			(580)		6/3/2011
Manassas, Virginia			—			—			24,626			—			—			33,036			—			—			57,662			(1)
		$	52,899		$	312,254		$	270,123		$	77,706		$	1,782,946		$	650,132		$	130,605		$	2,095,200		$	920,255		$	(536,167)
Leased Properties
Leased Facilities acquired in 2015			—			59,087			—			—			(6,684)			109			—			52,403			109			(7,797)		6/16/2015
Jersey City, New Jersey			—			1,985			—			—			28,425			557			—			30,410			557			(13,938)		11/1/2006
Overland Park, Kansas			—			—			—			—			888			1			—			888			1			(658)
		$	—		$	61,072		$	—		$	—		$	22,629		$	667		$	—		$	83,700		$	667		$	(22,393)
		$	52,899		$	373,326		$	270,123		$	77,706		$	1,805,575		$	650,799		$	130,605		$	2,178,901		$	920,922		$	(558,560)

(1)	See Note 2 - ‘Summary of Significant Accounting Policies’ for information regarding asset lives on which depreciation and amortization are calculated.

(2)	The “Atlanta, Georgia Campus” includes both the existing data center Atlanta (DC-1) as well as new property development associated with construction of a second megascale data center Atlanta (DC-2) on land adjacent to the existing Atlanta DC-1 facility.

(3)

Includes the effects of an impairment recognized during the year ended December 31, 2019 of certain data center assets and equipment in one of our Dulles, Virginia data centers. The impairment resulted in a reduction of costs capitalized of $24.9 million as well as a reduction of accumulated depreciation of $13.5 million during the year ended December 31, 2019. See the Impairment of Long-Lived Assets, Intangible Assets and Goodwill section of Note 2 ‘Summary of Significant Accounting Policies’ for additional information.

(4)	Represent land purchases. Land acquisition costs, as well as subsequent development costs, are included within construction in progress until development on the land has ended and the asset is ready for its intended use.

The aggregate gross cost of the Company’s properties for federal income tax purposes was $3.41 billion (unaudited) as of December 31, 2019.

The following table reconciles the historical cost and accumulated depreciation for the years ended December 31, 2019, 2018 and 2017 (in thousands):


		Year Ended December 31,
		2019			2018			2017
Property
Balance, beginning of period		$	2,812,856		$	2,357,322		$	1,964,857
Disposals			(41,363)			(43,616)			(18,198)
Additions (acquisitions and improvements)			458,935			499,150			410,663
Balance, end of period		$	3,230,428		$	2,812,856		$	2,357,322
Accumulated depreciation
Balance, beginning of period		$	(467,644)		$	(394,823)		$	(317,834)
Disposals			28,172			30,139			13,970
Additions (depreciation and amortization expense)			(119,088)			(102,960)			(90,959)
Balance, end of period		$	(558,560)		$	(467,644)		$	(394,823)