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Schedule III-Real Estate Assets and Accumulated Depreciation and Amortization [Schedule]
12 Months Ended
Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III-Real Estate Assets and Accumulated Depreciation and Amortization
RW HOLDINGS NNN REIT, INC.
Schedule III
Real Estate Assets and Accumulated Depreciation and Amortization
December 31, 2019
 
 
 
 
 
 
 
 
 
 
Initial Cost to Company
 
 
 
Gross Amount at Which Carried at Close of Period
 
 
 
 
Description
 
Location
 
Original
Year
of
Construction
 
Date
Acquired
 
Encumbrances
 
Land
 
Buildings &
Improvements
(1)
 
Total
 
Costs
Capitalized
Subsequent
to
Acquisition
 
Land
 
Buildings &
Improvements
(1)
 
Total
 
Accumulated
Depreciation
and
Amortization
 
Net
Accredo Health
 
Orlando, FL
 
2006
 
6/15/2016
 
$
4,738,338

 
$
1,706,641

 
$
9,003,859

 
$
10,710,500

 
$
198,986

 
$
1,706,641

 
$
9,202,845

 
$
10,909,486

 
$
(1,754,846
)
 
$
9,154,640

Walgreens
 
Stockbridge, GA
 
2001
 
6/21/2016
 
2,115,104

 
1,033,105

 
3,820,266

 
4,853,371

 

 
1,033,105

 
3,820,266

 
4,853,371

 
(1,175,073
)
 
3,678,298

Dollar General
 
Litchfield, ME
 
2015
 
11/4/2016
 
634,809

 
293,912

 
1,104,202

 
1,398,114

 

 
293,912

 
1,104,202

 
1,398,114

 
(125,762
)
 
1,272,352

Dollar General
 
Wilton, ME
 
2015
 
11/4/2016
 
640,014

 
212,036

 
1,472,393

 
1,684,429

 

 
212,036

 
1,472,393

 
1,684,429

 
(160,948
)
 
1,523,481

Dollar General
 
Thompsontown, PA
 
2015
 
11/4/2016
 
640,014

 
217,912

 
1,088,678

 
1,306,590

 

 
217,912

 
1,088,678

 
1,306,590

 
(120,834
)
 
1,185,756

Dollar General
 
Mt. Gilead, OH
 
2015
 
11/4/2016
 
634,809

 
283,578

 
1,002,457

 
1,286,035

 

 
283,578

 
1,002,457

 
1,286,035

 
(115,853
)
 
1,170,182

Dollar General
 
Lakeside, OH
 
2015
 
11/4/2016
 
634,809

 
176,515

 
1,037,214

 
1,213,729

 

 
176,515

 
1,037,214

 
1,213,729

 
(118,901
)
 
1,094,828

Dollar General
 
Castalia, OH
 
2015
 
11/4/2016
 
634,809

 
154,676

 
1,033,818

 
1,188,494

 

 
154,676

 
1,033,818

 
1,188,494

 
(115,524
)
 
1,072,970

Dana
 
Cedar Park, TX
 
2013
 
12/27/2016
 
4,551,250

 
1,290,863

 
8,312,917

 
9,603,780

 

 
1,290,863

 
8,312,917

 
9,603,780

 
(1,492,171
)
 
8,111,609

Northrop Grumman
 
Melbourne, FL
 
1986
 
3/7/2017
 
5,666,866

 
1,191,024

 
12,533,166

 
13,724,190

 

 
1,191,024

 
12,533,166

 
13,724,190

 
(2,185,956
)
 
11,538,234

exp US Services
 
Maitland, FL
 
1985
 
3/27/2017
 
3,385,353

 
785,801

 
5,522,567

 
6,308,368

 
136,547

 
785,801

 
5,659,114

 
6,444,915

 
(609,311
)
 
5,835,604

Harley
 
Bedford, TX
 
2016
 
4/13/2017
 
6,748,029

 
1,145,196

 
12,033,092

 
13,178,288

 

 
1,145,196

 
12,033,092

 
13,178,288

 
(907,230
)
 
12,271,058

Wyndham
 
Summerlin, NV
 
2001
 
6/22/2017
 
5,716,200

 
4,144,069

 
5,972,433

 
10,116,502

 
959,213

 
4,144,069

 
6,931,646

 
11,075,715

 
(815,730
)
 
10,259,985

Williams-Sonoma
 
Summerlin, NV
 
1996
 
6/22/2017
 
4,530,600

 
3,546,744

 
4,028,821

 
7,575,565

 
1,054,532

 
3,546,744

 
5,083,353

 
8,630,097

 
(746,900
)
 
7,883,197

Omnicare
 
Richmond, VA
 
2004
 
7/20/2017
 
4,273,552

 
800,772

 
6,523,599

 
7,324,371

 
219,818

 
800,772

 
6,743,417

 
7,544,189

 
(587,875
)
 
6,956,314

EMCOR
 
Cincinnati, OH
 
2010
 
8/29/2017
 
2,862,484

 
427,589

 
5,996,509

 
6,424,098

 

 
427,589

 
5,996,509

 
6,424,098

 
(424,764
)
 
5,999,334

Husqvarna
 
Charlotte, NC
 
2010
 
11/30/2017
 
6,379,182

 
974,663

 
11,879,485

 
12,854,148

 

 
974,663

 
11,879,485

 
12,854,148

 
(756,557
)
 
12,097,591

AvAir
 
Chandler, AZ
 
2015
 
12/28/2017
 
14,575,000

 
3,493,673

 
23,864,227

 
27,357,900

 

 
3,493,673

 
23,864,227

 
27,357,900

 
(1,417,062
)
 
25,940,838

3M
 
DeKalb, IL
 
2007
 
2018-03-29
 
8,290,000

 
758,780

 
16,360,400

 
17,119,180

 

 
758,780

 
16,360,400

 
17,119,180

 
(2,231,246
)
 
14,887,934

Cummins
 
Nashville, TN
 
2001
 
2018-04-04
 
8,458,600

 
3,347,960

 
12,654,529

 
16,002,489

 

 
3,347,960

 
12,654,529

 
16,002,489

 
(1,357,376
)
 
14,645,113

Northrop Grumman Parcel
 
Melbourne, FL
 
 
2018-06-21
 

 
329,410

 

 
329,410

 

 
329,410

 

 
329,410

 

 
329,410

24 Hour Fitness
 
Las Vegas, NV
 
1995
 
2018-07-27
 
6,283,898

 
3,121,985

 
9,536,325

 
12,658,310

 
31,448

 
3,121,985

 
9,567,773

 
12,689,758

 
(653,647
)
 
12,036,111

Texas Health
 
Dallas, TX
 
1978
 
2018-09-13
 
4,400,000

 
1,827,914

 
5,862,010

 
7,689,924

 

 
1,827,914

 
5,862,010

 
7,689,924

 
(384,029
)
 
7,305,895

Bon Secours
 
Richmond, VA
 
2001
 
2018-10-31
 
5,250,000

 
1,658,659

 
9,184,248

 
10,842,907

 

 
1,658,659

 
9,184,248

 
10,842,907

 
(526,238
)
 
10,316,669

Costco
 
Issaquah, WA
 
1987
 
2018-12-20
 
18,850,000

 
8,202,915

 
21,825,853

 
30,028,768

 
28,786

 
8,202,915

 
21,854,639

 
30,057,554

 
(1,352,612
)
 
28,704,942

Taylor Fresh Foods
 
Yuma, AZ
 
2001
 
2019-10-24
 
12,350,000

 
4,312,016

 
32,776,370

 
37,088,386

 

 
4,312,016

 
32,776,370

 
37,088,386

 
(275,349
)
 
36,813,037

Chevron Gas Station
 
San Jose, CA
 
1964
 
2019-12-31
 

 
3,787,021

 
349,180

 
4,136,201

 
64,135

 
3,787,021

 
413,315

 
4,200,336

 

 
4,200,336

Levins
 
Sacramento, CA
 
1970
 
2019-12-31
 
2,079,793

 
1,404,863

 
3,204,715

 
4,609,578

 
41,739

 
1,404,863

 
3,246,454

 
4,651,317

 

 
4,651,317

Chevron Gas Station
 
Roseville, CA
 
2003
 
2019-12-31
 

 
2,636,663

 
899,927

 
3,536,590

 
248,396

 
2,636,663

 
1,148,323

 
3,784,986

 

 
3,784,986

Island Pacific Supermarket
 
Elk Grove, CA
 
2012
 
2019-12-31
 
1,891,225

 
676,981

 
1,877,222

 
2,554,203

 
203,603

 
676,981

 
2,080,825

 
2,757,806

 

 
2,757,806

Dollar General
 
Bakersfield, CA
 
1952
 
2019-12-31
 
2,324,338

 
1,099,458

 
3,824,688

 
4,924,146

 
237,198

 
1,099,458

 
4,061,886

 
5,161,344

 

 
5,161,344

Rite Aid
 
Lake Elsinore, CA
 
2008
 
2019-12-31
 
3,659,338

 
3,939,724

 
3,118,185

 
7,057,909

 
204,621

 
3,939,724

 
3,322,806

 
7,262,530

 

 
7,262,530

PMI Preclinical
 
San Carlos, CA
 
1974
 
2019-12-31
 
4,118,613

 
4,774,497

 
5,243,803

 
10,018,300

 
62,099

 
4,774,497

 
5,305,902

 
10,080,399

 

 
10,080,399

EcoThrift
 
Sacramento, CA
 
1982
 
2019-12-31
 
2,639,237

 
2,300,717

 
3,103,932

 
5,404,649

 
419,423

 
2,300,717

 
3,523,355

 
5,824,072

 

 
5,824,072

GSA (MSHA)
 
Vacaville, CA
 
1987
 
2019-12-31
 
1,796,361

 
399,062

 
2,869,790

 
3,268,852

 
86,531

 
399,062

 
2,956,321

 
3,355,383

 

 
3,355,383

PreK Education
 
San Antonio, TX
 
2014
 
2019-12-31
 
5,140,343

 
963,044

 
11,411,964

 
12,375,008

 
520,206

 
963,044

 
11,932,170

 
12,895,214

 

 
12,895,214

Dollar Tree
 
Morrow, GA
 
1997
 
2019-12-31
 

 
159,829

 
1,020,053

 
1,179,882

 
213,783

 
159,829

 
1,233,836

 
1,393,665

 

 
1,393,665

Dinan Cars
 
Morgan Hill, CA
 
2001
 
2019-12-31
 
2,710,834

 
2,453,420

 
3,522,337

 
5,975,757

 
276,900

 
2,453,420

 
3,799,237

 
6,252,657

 

 
6,252,657

Solar Turbines
 
San Diego, CA
 
1985
 
2019-12-31
 
2,843,863

 
2,483,960

 
4,722,578

 
7,206,538

 
210,729

 
2,483,960

 
4,933,307

 
7,417,267

 

 
7,417,267

Wood Group
 
San Diego, CA
 
1985
 
2019-12-31
 
3,478,480

 
3,461,256

 
6,358,532

 
9,819,788

 
304,387

 
3,461,256

 
6,662,919

 
10,124,175

 

 
10,124,175

ITW Rippey
 
El Dorado Hills, CA
 
1998
 
2019-12-31
 
3,112,349

 
787,945

 
6,392,126

 
7,180,071

 
195,459

 
787,945

 
6,587,585

 
7,375,530

 

 
7,375,530

Dollar General
 
Big Spring, TX
 
2015
 
2019-12-31
 
611,161

 
103,838

 
1,114,728

 
1,218,566

 
139,468

 
103,838

 
1,254,196

 
1,358,034

 

 
1,358,034

Gap
 
Rocklin, CA
 
1998
 
2019-12-31
 
3,643,166

 
2,076,754

 
5,715,144

 
7,791,898

 
946,755

 
2,076,754

 
6,661,899

 
8,738,653

 

 
8,738,653

L-3 Communications
 
Carlsbad, CA
 
1984
 
2019-12-31
 
5,284,884

 
3,552,878

 
8,099,339

 
11,652,217

 
433,675

 
3,552,878

 
8,533,014

 
12,085,892

 

 
12,085,892

Sutter Health
 
Rancho Cordova, CA
 
2009
 
2019-12-31
 
14,161,776

 
2,443,240

 
26,690,356

 
29,133,596

 
2,038,069

 
2,443,240

 
28,728,425

 
31,171,665

 

 
31,171,665

Walgreens
 
Santa Maria, CA
 
2001
 
2019-12-31
 
3,000,000

 
1,832,430

 
3,512,156

 
5,344,586

 
214,801

 
1,832,430

 
3,726,957

 
5,559,387

 

 
5,559,387

 
 
 
 
 
 
 
 
$
195,739,481

 
$
86,775,988

 
$
327,480,193

 
$
414,256,181

 
$
9,691,307

 
$
86,775,988

 
$
337,171,500

 
$
423,947,488

 
$
(20,411,794
)
 
$
403,535,694

(1)
Building and improvements include tenant origination and absorption costs.
Notes:
The aggregate cost of real estate for U.S. federal income tax purposes was approximately $232,900,000 (unaudited) as of December 31, 2019.
Real estate investments (excluding land) are depreciated over their estimated useful lives. Their useful lives are generally 10-48 years for buildings, the shorter of 15 years or remaining lease term for site/building improvements, the shorter of 15 years or remaining contractual lease term for tenant improvements and the remaining lease term with consideration as to above- and below-market extension options for above- and below-market lease intangibles for tenant origination and absorption costs.
The real estate assets are 100% owned by the Company.
The following table summarizes the Company’s real estate assets and accumulated depreciation and amortization as of December 31, 2019 and 2018:
RW Holdings NNN REIT, INC.
Schedule III
Real Estate Assets and Accumulated Depreciation and Amortization
December 31, 2019 and 2018
 
2019
 
2018
Real estate investments:
 

 
 

Balance at beginning of year
$
235,212,009

 
$
138,810,355

Acquisitions
185,446,483

 
94,670,988

Improvements to real estate
3,288,996

 
1,730,666

Balance at end of year
$
423,947,488

 
$
235,212,009

 
 
 
 
Accumulated depreciation and amortization:
 
 
 
Balance at beginning of year
$
(10,563,664
)
 
$
(3,574,739
)
Depreciation and amortization
(9,848,130
)
 
(6,988,925
)
Balance at end of year
$
(20,411,794
)
 
$
(10,563,664
)