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

December 31, 2020

(in thousands)

				Initial Cost				Net Improvements (Write-Offs) Since Acquisition		Gross Amount at Which Carried (2)
Property Name, City and State	Encumbrances			Land		Building and Improvements				Land		Building and Improvements		Total		Acc. Deprec.		Year Built / Renovated	Year of Acquisition
Office
3601 S Congress Avenue
Austin, TX			(1)	$	9,569	$	18,593	$	10,528	$	9,569	$	29,121	$	38,690	$	8,075	1918 / 2001 & 2020	2007
1 Kaiser Plaza
Oakland, CA	$	97,100		9,261		113,619		18,538		9,261		132,157		141,418		47,775		1970 / 2008	2008
2 Kaiser Plaza Parking Lot
Oakland, CA	—			10,931		110		3,120		10,931		3,230		14,161		32		N/A	2015
11600 Wilshire Boulevard
Los Angeles, CA			(1)	3,477		18,522		1,954		3,477		20,476		23,953		6,071		1955	2010
11620 Wilshire Boulevard
Los Angeles, CA			(1)	7,672		51,999		7,331		7,672		59,330		67,002		17,011		1976	2010
4750 Wilshire Boulevard
Los Angeles, CA			(1)	16,633		28,985		5,067		16,633		34,052		50,685		5,245		1984 / 2014	2014
Lindblade Media Center
Los Angeles, CA			(1)	6,342		11,568		(101)		6,342		11,467		17,809		1,832		1930 & 1957 / 2010	2014
1130 Howard Street
San Francisco, CA			(1)	8,290		10,480		131		8,290		10,611		18,901		966		1930 / 2016 & 2017	2017
9460 Wilshire Boulevard
Los Angeles, CA			(1)	52,199		76,730		916		52,199		77,646		129,845		6,686		1959 / 2008	2018
1021 E 7th Street
Austin, TX	—			4,976		733		—		4,976		733		5,709		9		1972 / 2001	2020
Hotel
Sheraton Grand Hotel
Sacramento, CA			(1)	3,497		107,447		320		3,497		107,767		111,264		33,932		2001	2008
Sheraton Grand Hotel Parking & Retail
Sacramento, CA	—			6,550		10,996		222		6,550		11,218		17,768		3,531		2001	2008
	$	97,100		$	139,397	$	449,782	$	48,026	$	139,397	$	497,808	$	637,205	$	131,165

(1)These properties collateralize the revolving credit facility, which had a $166.5 million outstanding balance as of December 31, 2020.

(2)The aggregate gross cost of property included above for federal income tax purposes approximates $687.7 million (unaudited) as of December 31, 2020.

The following table reconciles our investments in real estate from January 1, 2018 to December 31, 2020:

	Year Ended December 31,
	2020		2019		2018
	(in thousands)
Investments in Real Estate
Balance, beginning of period	$	629,262	$	1,344,636	$	1,228,780
Additions:
Improvements	9,335		18,388		14,906
Property acquisitions	5,709		—		128,928
Deductions:
Assets held for sale	—		—		(24,832)
Asset sales	—		(659,849)		—
Impairment	—		(69,000)		—
Retirements	(7,101)		(4,913)		(3,146)
Balance, end of period	$	637,205	$	629,262	$	1,344,636

The following table reconciles the accumulated depreciation from January 1, 2018 to December 31, 2020:

	Year Ended December 31,
	2020		2019		2018
	(in thousands)
Accumulated Depreciation
Balance, beginning of period	$	(120,555)	$	(303,699)	$	(271,055)
Additions: depreciation	(17,711)		(22,209)		(43,499)
Deductions:
Assets held for sale	—		—		7,709
Asset sales	—		200,440		—
Retirements	7,101		4,913		3,146
Balance, end of period	$	(131,165)	$	(120,555)	$	(303,699)