Schedule III - Real Estate Investments

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 Investments

QTS REALTY TRUST, INC.

SCHEDULE III – REAL ESTATE INVESTMENTS

December 31, 2020

	Initial Costs						Costs Capitalized Subsequent to Acquisition							Gross Carrying Amount
As of 12/31/2020 (dollars in thousands)	Land		Buildings and Improvements		Construction in Progress		Land		Buildings and Improvements			Construction in Progress		Land		Buildings and Improvements		Construction in Progress		Accumulated Depreciation and Amortization (1)		Year of Acquisition
Property Location
Owned Properties
Ashburn, Virginia (DC-1)	$	16,476	$	—	$	—	$	—	$	371,725		$	13,653	$	16,476	$	371,725	$	13,653	$	(23,423)	2017
Ashburn, Virginia (DC-2)	—		—		20,603		—		—			109,254		—		—		129,857		—		2019
Ashburn, Virginia (DC-3) (2)	—		—		35,198		—		—			7,194		—		—		42,392		—		2017
Atlanta, Georgia (DC-1)	2,078		35,473		2,209		11,212		538,751			991		13,289		574,224		3,200		(221,800)		2006
Atlanta, Georgia (DC-2)	10,569		—		—		—		124,864			124,252		10,569		124,864		124,252		(2,737)		2017
Atlanta, Georgia Land (2)	23,572		—		52,754		7,726		1,054			10,866		31,298		1,054		63,619		(449)		2017, 2019, 2020
Chicago, Illinois	—		—		17,764		9,400		250,335			86,353		9,400		250,335		104,117		(34,134)		2014
Dulles, Virginia	3,154		29,583		—		—		24,740		(3)	4,148		3,154		54,323		4,148		(17,191)		2017
Eemshaven, Netherlands	—		—		29,915		5,366		21,712			17,616		5,366		21,712		47,531		(1,017)		2019
Fort Worth, Texas	136		610		48,984		8,943		123,444			(47,920)		9,079		124,054		1,064		(8,967)		2016
Groningen, Netherlands	1,743		8,640		—		153		2,566			3,730		1,896		11,206		3,730		(1,456)		2019
Hillsboro, Oregon	—		—		25,657		18,414		34,594			52,733		18,414		34,594		78,390		(880)		2017
Irving, Texas	—		5,808		—		8,606		386,467			99,591		8,606		392,275		99,591		(81,213)		2013
Lenexa, Kansas	400		3,100		—		37		781			—		437		3,881		—		(703)		2011
Manassas, Virginia (DC-1) (2)	—		—		27,484		—		25			33,586		—		25		61,070		(2)		2018
Manassas, Virginia (DC-2)	—		—		5,911		—		—			92		—		—		6,003		—		2018
Miami, Florida	1,777		6,955		—		—		24,934			577		1,777		31,889		577		(13,796)		2008
Phoenix, Arizona (2)	—		—		24,668		—		—			13,061		—		—		37,729		—		2017
Piscataway, New Jersey	7,466		80,366		13,900		—		41,810			16,501		7,466		122,176		30,401		(16,600)		2016
Princeton, New Jersey	20,700		32,126		—		—		3,135			5		20,700		35,261		5		(6,319)		2014
Richmond, Virginia	2,000		11,200		7,029		180		222,727			113,548		2,180		233,927		120,577		(84,389)		2010 & 2019
Sacramento, California	1,481		52,753		—		—		13,546			12		1,481		66,299		12		(16,325)		2012
San Antonio, Texas (2)	—		—		37,167		—		—			3,213		—		—		40,380		—		2020
Santa Clara, California	—		15,838		—		—		101,505			9,385		—		117,343		9,385		(52,742)		2007
Suwanee, Georgia (Atlanta-Suwanee)	1,395		29,802		—		2,126		154,665			6,701		3,521		184,467		6,701		(90,323)		2005
	$	92,947	$	312,254	$	349,243	$	72,162	$	2,443,381		$	679,142	$	165,109	$	2,755,635	$	1,028,385	$	(674,468)
Leased Properties
Jersey City, New Jersey	—		1,985		—		—		28,178			223		—		30,163		223		(15,455)		2006
Leased Facilities acquired in 2015	—		59,087		—		—		(6,491)			2		—		52,596		2		(12,513)		2015
Overland Park, Kansas	—		—		—		—		866			154		—		866		154		(508)
	$	—	$	61,072	$	—	$	—	$	22,553		$	379	$	—	$	83,625	$	379	$	(28,476)
	$	92,947	$	373,326	$	349,243	$	72,162	$	2,465,934		$	679,521	$	165,109	$	2,839,260	$	1,028,764	$	(702,944)

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

(2)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.

(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.

The aggregate gross cost of the Company’s properties for U.S. federal income tax purposes was $4.22 billion (unaudited) as of December 31, 2020.

The following table reconciles the historical cost and accumulated depreciation for the years ended December 31, 2020, 2019 and 2018 (in thousands):

	Year Ended December 31,
	2020		2019		2018
Property
Balance, beginning of period	$	3,230,428	$	2,812,856	$	2,357,322
Disposals	(7,821)		(41,363)		(43,616)
Additions (acquisitions and improvements)	810,527		458,935		499,150
Balance, end of period	$	4,033,134	$	3,230,428	$	2,812,856
Accumulated depreciation
Balance, beginning of period	$	(558,560)	$	(467,644)	$	(394,823)
Disposals	6,577		28,172		30,139
Additions (depreciation and amortization expense)	(150,961)		(119,088)		(102,960)
Balance, end of period	$	(702,944)	$	(558,560)	$	(467,644)