SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2021

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, 2021

(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	$	12,532	$	9,569	$	31,125	$	40,694	$	8,857	1918 / 2001 & 2020	2007
1 Kaiser Plaza
Oakland, CA	$	97,100		9,261		113,619		19,048		9,261		132,667		141,928		52,113		1970 / 2008	2008
2 Kaiser Plaza Parking Lot
Oakland, CA	—			10,931		110		3,153		10,931		3,263		14,194		42		N/A	2015
11600 Wilshire Boulevard
Los Angeles, CA			(1)	3,477		18,522		2,090		3,477		20,612		24,089		6,584		1955	2010
11620 Wilshire Boulevard
Los Angeles, CA			(1)	7,672		51,999		6,457		7,672		58,456		66,128		17,940		1976	2010
4750 Wilshire Boulevard
Los Angeles, CA			(1)	16,633		28,985		5,375		16,633		34,360		50,993		6,367		1984 / 2014	2014
Lindblade Media Center
Los Angeles, CA			(1)	6,342		11,568		(101)		6,342		11,467		17,809		2,198		1930 & 1957 / 2010	2014
1037 N Sycamore
Los Angeles, CA	—			1,839		1,094		48		1,839		1,142		2,981		14		2000 / 2021	2021
1130 Howard Street
San Francisco, CA			(1)	8,290		10,480		131		8,290		10,611		18,901		1,297		1930 / 2016 & 2017	2017
9460 Wilshire Boulevard
Los Angeles, CA			(1)	52,199		76,730		1,681		52,199		78,411		130,610		8,738		1959 / 2008	2018
1021 E 7th Street
Austin, TX	—			4,976		733		—		4,976		733		5,709		113		1972 / 2001	2020
Hotel
Sheraton Grand Hotel
Sacramento, CA			(1)	3,497		107,447		(99)		3,497		107,348		110,845		36,612		2001	2008
Sheraton Grand Hotel Parking & Retail
Sacramento, CA	—			6,550		10,996		275		6,550		11,271		17,821		3,843		2001	2008
	$	97,100		$	141,236	$	450,876	$	50,590	$	141,236	$	501,466	$	642,702	$	144,718

(1)These properties collateralize the revolving credit facility, which had a $60.0 million outstanding balance as of December 31, 2021.

(2)The aggregate gross cost of property included above for federal income tax purposes approximates $695.1 million (unaudited) as of December 31, 2021.

Schedule III—Real Estate and Accumulated Depreciation (Continued)

December 31, 2021

(in thousands)

The following table reconciles the Company’s investments in real estate from January 1, 2020 to December 31, 2021:

	Year Ended December 31,
	2021		2020
	(in thousands)
Investments in Real Estate
Balance, beginning of period	$	637,205	$	629,262
Additions:
Improvements	5,907		9,335
Property acquisitions	2,933		5,709
Deductions:
Assets held for sale	—		—
Asset sales	—		—
Impairment	—		—
Retirements	(3,343)		(7,101)
Balance, end of period	$	642,702	$	637,205

The following table reconciles the accumulated depreciation from January 1, 2020 to December 31, 2021:

	Year Ended December 31,
	2021		2020
	(in thousands)
Accumulated Depreciation
Balance, beginning of period	$	(131,165)	$	(120,555)
Additions: depreciation	(16,896)		(17,711)
Deductions:
Assets held for sale	—		—
Asset sales	—		—
Retirements	3,343		7,101
Balance, end of period	$	(144,718)	$	(131,165)