Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2016

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

REAL ESTATE AND ACCUMULATED DEPRECIATION

	Schedule III
AMERICAN REALTY INVESTORS, INC.
REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2016

							Cost Capitalized Subsequent to			Asset			Gross Amounts of Which													Life on Which
			Initial Cost				Acquisition			Impairment			Carried at End of Year													Depreciation
																										In Latest
																										Statement
					Building &					Asset					Building &				Accumulated		Date of		Date			of Operation
Property/Location	Encumbrances		Land		Improvements		Improvements			Impairment			Land		Improvements		Total		Depreciation		Construction		Acquired			is Computed
	(dollars in thousands)
Properties Held for Investment Apartments
Anderson Estates, Oxford, MS		796		378		2,683		313			—			378		2,996		3,373		732		2003		01	/06		40 years
Blue Lake Villas I, Waxahachie, TX		10,589		526		10,784		(601	)		—			526		10,183		10,709		3,533		2003		01	/02		40 years
Blue Lake Villas II, Waxahachie, TX		3,832		287		4,451		45			—			287		4,496		4,783		1,023		2004		01	/04		40 years
Breakwater Bay, Beaumont, TX		9,271		740		10,435		63			—			740		10,498		11,238		3,123		2004		05	/03		40 years
Bridgewood Ranch, Kaufman, TX		6,340		762		6,856		57			—			762		6,913		7,675		1,553		2007		04	/08		40 years
Capitol Hill, Little Rock, AR		8,893		1,860		7,948		55			—			1,860		8,002		9,862		2,506		2003		03	/03		40 years
Centennial, Oak Ridge, TN		20,794		2,570		22,589		—			—			2,570		22,589		25,159		800		2011		07	/14		40 years
Curtis Moore Estates, Greenwood, MS		1,444		186		5,733		946			—			186		6,679		6,865		1,772		2003		01	/06		40 years
Crossing at Opelika, Opelika, AL		14,700		1,590		14,314		—			—			1,590		14,314		15,904		267		2015		12	/15		40 years
Dakota Arms, Lubbock, TX		12,356		921		12,644		358			—			921		13,002		13,923		3,860		2004		01	/04		40 years
David Jordan Phase II, Greenwood, MS		563		51		1,521		295			—			51		1,816		1,867		461		1999		01	/06		40 years
David Jordan Phase III, Greenwood, MS		573		83		2,115		420			—			83		2,535		2,618		590		2003		01	/06		40 years
Desoto Ranch, DeSoto, TX		15,119		1,472		17,856		(1,131	)		—			1,472		16,725		18,197		5,403		2002		05	/02		40 years
Falcon Lakes, Arlington, TX		13,530		1,438		15,094		(725	)		—			1,438		14,369		15,806		5,203		2001		10	/01		40 years
Heather Creek, Mesquite, TX		11,162		1,326		12,015		69			—			1,326		12,083		13,410		3,626		2003		03	/03		40 years
Holland Lake, Weatherford, TX		11,669		1,449		14,612		—			—			1,449		14,612		16,061		609		2004		05	/14		40 years
Lake Forest, Houston, TX		12,007		335		12,267		1,615			—			335		13,883		14,218		3,919		2004		01	/04		40 years
Legacy at Pleasant Grove, Texarkana, TX		14,757		2,005		17,892		—			—			2,005		17,892		19,897		932		2006		12	/14		40 years
Lodge at Pecan Creek, Denton, TX		16,174		1,349		16,180		—			—			1,349		16,180		17,529		2,090		2011		10	/05		40 years
Mansions of Mansfield, Mansfield, TX		15,347		977		17,799		76			—			977		17,875		18,851		3,465		2009		09	/05		40 years
Metropolitan Apartments		24,303		3,229		29,003		0						3,229		29,003		32,232		363
Mission Oaks, San Antonio, TX		14,670		1,266		16,627		212			—			1,266		16,839		18,105		4,077		2005		05	/05		40 years
Monticello Estate, Monticello, AR		445		36		1,493		264			—			36		1,757		1,793		422		2001		01	/06		40 years
Northside on Travis, Sherman, TX		13,099		1,301		14,560		26			—			1,301		14,586		15,887		2,671		2009		10	/07		40 years
Oak Hollow, Sequin, TX		11,832		1,435		12,405		—						1,435		12,405		13,840		465		2011		07	/14		40 years
Overlook at Allensville, Sevierville, TN		11,374		1,228		12,297		—						1,228		12,297		13,524		567		2012		10	/15		40 years
Oceanaire Apartments		13,607		1,397		12,575		—						1,397		12,575		13,972		—
Parc at Clarksville, Clarksville, TN		12,658		571		14,300		118			—			571		14,418		14,990		3,022		2007		06	/02		40 years
Parc at Denham Springs, Denham Springs, LA		18,520		1,022		20,188		8			—			1,022		20,195		21,218		3,012		2011		07	/07		40 years
Parc at Maumelle, Little Rock, AR		15,694		1,153		17,688		671			—			1,153		18,359		19,512		4,759		2006		12	/04		40 years
Parc at Metro Center, Nashville, TN		10,316		960		12,226		543			—			960		12,769		13,729		3,359		2006		05	/05		40 years
Parc at Rogers, Rogers, AR		20,382		1,482		22,993		449			(3,180	)		1,482		23,442		21,745		4,321		2007		04	/04		40 years
Preserve at Pecan Creek, Denton, TX		14,251		885		16,626		59			—			885		16,685		17,570		3,473		2008		10	/05		40 years
Preserve at Prairie Pointe, Lubbock, TX		10,057		1,074		10,603		178						1,074		10,782		11,856		462		2005		04	/15		40 years
Riverwalk Phase I, Greenville, MS		282		23		1,537		180			—			23		1,718		1,741		464		2003		01	/06		40 years
Riverwalk Phase II, Greenville, MS		1,089		52		4,007		408			—			52		4,415		4,467		1,467		2003		01	/06		40 years
Sawgrass Creek		0		784		7,056		0						784		7,056		7,840		73
Sonoma Court, Rockwall, TX		10,616		941		11,074		—			—			941		11,074		12,014		1,500		2011		07	/10		40 years
Sugar Mill, Baton Rouge, LA		11,216		1,437		13,367		205			—			1,437		13,572		15,009		2,500		2009		08	/08		40 years
Tattersall Village		26,121		2,691		23,961		0						2,691		23,961		26,652		—
Toulon, Gautier, MS		20,356		1,621		20,107		372			—			1,621		20,479		22,099		2,765		2011		09	/09		40 years
Tradewinds, Midland, TX		14,477		3,300		20,073		0						3,300		20,073		23,373		748		2015		06	/15		40 years
Villager, Ft. Walton, FL		733		141		1,268		0						141		1,268		1,409		53		1972		06	/15		40 years
Villas at Park West I, Pueblo, CO		10,410		1,171		10,453		—			—			1,171		10,453		11,624		544		2005		12	/14		40 years
Villas at Park West II, Pueblo, CO		9,418		1,463		13,060		—			—			1,463		13,060		14,523		680		2010		12	/14		40 years
Vista Ridge, Tupelo, MS		10,661		1,339		13,398		—						1,339		13,398		14,737		849		2009		10	/15		40 years
Vistas of Vance Jackson, San Antonio, TX		15,076		1,265		16,540		189			—			1,265		16,728		17,993		4,728		2004		01	/04		40 years
Waterford, Roseberg, TX		17,167		2,341		20,880		0						2,341		20,880		23,221		783		2013		06	/14		40 years
Westwood, Mary Ester, FL		4,167		692		6,650		0						692		6,650		7,343		263		1972		06	/15		40 years
Windsong, Fort Worth, TX		10,599		790		11,526		69			—			790		11,596		12,386		3,724		2002		07	/03		40 years
Total Apartments Held for Investment	$	553,509	$	57,396	$	634,328	$	5,806		$	(3,180	)	$	57,396	$	640,135	$	694,351	$	97,580
Apartments Under Construction
Lakeside Lofts, Farmers Branch, TX		0		0		—		1,744			—			—		1,744		1,744		—		—		12	/14		—
Terra Lago, Rowlett, TX		13,005		6,023				15,406						6,023		15,406		21,429				—		11	/15		—
Overlook at Allensville Square II, Seigerville, TN		0		1,843				271						1,843		271		2,114				—		11	/15		—
Total Apartments Under Construction	$	13,005	$	7,866	$	—	$	17,421		$	—		$	7,866	$	17,421	$	25,288	$	—

AMERICAN REALTY INVESTORS, INC.	Schedule III
REAL ESTATE AND ACCUMULATED DEPRECIATION	Continued
December 31, 2016

							Cost Capitalized Subsequent to			Asset			Gross Amounts of Which															Life on Which
			Initial Cost				Acquisition			Impairment			Carried at End of Year															Depreciation
																												In Latest
																												Statement
					Building &					Asset						Building &					Accumulated		Date of		Date			of Operation
Property/Location	Encumbrances		Land		Improvements		Improvements			Impairment			Land			Improvements		Total			Depreciation		Construction		Acquired			is Computed
	(dollars in thousands)
Commercial
600 Las Colinas, Las Colinas, TX		39,237		5,751		51,759		16,941			—			5,751			68,700		74,451			23,729		1984		08	/05		40 years
770 South Post Oak, Houston, TX		12,700		1,763		15,834		165						1,763			15,999		17,762			660		1970		07	/15		40 years
Bridgeview Plaza, LaCrosse, WI		5,218		—		—		1,008			—			—			1,008		1,008			522		1979		03	/03		40 years
Browning Place (Park West I), Farmers Branch, TX		23,193		5,096		45,868		14,355			—			5,096			60,223		65,319			21,301		1984		04	/05		40 years
Cross County Mall, Matoon, IL		—		608		5,677		8,194			—			608			13,871		14,479			12,324		1971		08	/79		40 years
Mahogany Run Golf Course, US Virgin Islands		—		7,168		6,031		141			(5,300	)		7,168			6,173		8,041			323		1981		11	/14		40 years
Fruitland Plaza, Fruitland Park, FL		—		23		—		77			—			23			77		100			46		—		05	/92		40 years
Senlac VHP,  Farmers Branch, TX		—		622		—		142			—			622			142		765			134		—		08	/05		40 years
Stanford Center, Dallas, TX		28,000		3,878		34,862		7,793			(9,600	)		3,878			42,655		36,933			8,980		—		06	/08		40 years
Total Commercial Held for Investment	$	108,348	$	24,910	$	160,031	$	48,816		$	(14,900	)	$	24,910		$	208,847	$	218,857		$	68,017
Land
2427 Valley View Ln, Farmers Branch, TX		—		76		—		—			—			76			—		76			—		—		07	/12		—
Audubon, Adams County, MS		—		519		297		297			—			815			—		815			—		—		03	/07		—
Bonneau Land, Farmers Branch, TX		—		1,309		—		—			—			1,309			—		1,309			—		—		12	/14		—
Cooks Lane, Fort Worth, TX		394		1,094		—		—			—			1,094			—		1,094			—		—		06	/04		—
Dedeaux, Gulfport, MS		—		1,612		46		46			(38	)		1,620			—		1,620			—		—		10	/06		—
Denham Springs, Denham Springs, LA		153		714		—		—			—			714			—		714			—		—		08	/08		—
Dominion Mercer		3,572		3,688		—		—			—			3,688			—		3,688			—		—		10	/16		—
Gautier Land, Gautier, MS		—		202		—		—			—			202			—		202			—		—		07	/98		—
GNB Land, Farmers Branch, TX		8,695		4,385		32		32			—			4,418			—		4,418			—		—		07	/06		—
Hollywood Casino Land Tract II, Farmers Branch, TX		1,410		3,192		620		674			—			4,486			—		4,486			—		—		03	/08		—
Lacy Longhorn Land, Farmers Branch, TX		—		1,169		—		(760	)		—			408			—		408			—		—		06	/04		—
Lake Shore Villas, Humble, TX		—		81		3		3			—			84			—		84			—		—		03	/02		—
Lubbock Land, Lubbock, TX		—		234		—		—			—			234			—		234			—		—		01	/04		—
Luna Ventures, Farmers Branch TX		—		2,934		—		—			—			2,934			—		2,934			—		—		04	/08		—
Mandahl Bay Land		—		667		—		—			—			667					667			—		—		01	/05		—
Manhattan Land, Farmers Branch, TX		—		—		—		(344	)		—			(344	)		—		(344	)		—		—		02	/00		—
McKinney 36, Collin County, TX		1,415		647		164		(198	)		—			613			—		613			—		—		01	/98		—
Meloy/Portage Land, Kent OH		1,160		5,119		—		—			(1,069	)		4,050			—		4,050			—		—		02	/04		—
Minivest Land, Dallas, TX		—		7		—		—			—			7			—		7			—		—		04	/13		—
Mira Lago,  Farmers Branch, TX		—		59		15		(7	)		—			67			—		67			—		—		05	/01		—
Nakash, Malden, MO		—		113		—		(10	)		—			103			—		103			—		—		01	/93		—
Nashville, Nashville, TN		—		662		59		(384	)		—			338			—		338			—		—		06	/02		—
Nicholson Croslin, Dallas, TX		—		184		—		(118	)		—			66			—		66			—		—		10	/98		—
Nicholson Mendoza, Dallas, TX		—		80		—		(51	)		—			29			—		29			—		—		10	/98		—
Ocean Estates, Gulfport, MS		—		1,418		390		390			—			1,808			—		1,808			—		—		10	/07		—
Senlac Land Tract II, Farmers Branch, TX		—		656		—		—			—			656			—		656			—		—		08	/05		—
Sugar Mill Land, Baton Rouge, LA		116		445		242		242			—			687			—		687			—		—		08	/13		—
Texas Plaza Land, Irving, TX		—		1,738		—		—			(238	)		1,500			—		1,500			—		—		12	/06		—
Travis Ranch Land, Kaufman County, TX		757		1,030		—		—			—			1,030			—		1,030			—		—		08	/08		—
Travis Ranch Retail, Kaufman City, TX		—		1,517		—		—			—			1,517			—		1,517			—		—		08	/08		—
Union Pacific Railroad Land, Dallas, TX		—		130		—		—			—			130			—		130			—		—		03	/04		—
Valley View 34 (Mercer Crossing), Farmers Branch, TX		—		1,173		—		(945	)		—			228			—		228			—		—		08	/08		—
Willowick Land, Pensacola, FL		—		137		—		—			—			137			—		137			—		—		01	/95		—
Windmill Farms Land, Kaufman County, TX		25,332		49,371		—		15,009			(20,564	)		43,817			—		43,817			—		—		11	/11		—
Total Land Held for Investment	$	42,698	$	86,363	$	1,869	$	13,876		$	(21,909	)	$	79,188		$	—	$	79,188		$	—

AMERICAN REALTY INVESTORS, INC.	Schedule III
REAL ESTATE AND ACCUMULATED DEPRECIATION	Continued
December 31, 2015

							Cost Capitalized Subsequent to			Asset			Gross Amounts of Which												Life on Which
			Initial Cost				Acquisition			Impairment			Carried at End of Year												Depreciation
																									In Latest
																									Statement
					Building &					Asset					Building &				Accumulated		Date of		Date		of Operation
Property/Location	Encumbrances		Land		Improvements		Improvements			Impairment			Land		Improvements		Total		Depreciation		Construction		Acquired		is Computed
	(dollars in thousands)
Corporate Departments/Investments/Misc.
TCI - Corporate		162,232		—				—						—		—		—		—		—		—		—
ARI - Corporate		5,486		—		—		—						—		—		—		—		—		—		—
Total Corporate Debt	$	167,718		—	$	—	$	—		$	—		$	—	$	—	$	—	$	—
Total Properties Held for Investment/Corporate Debt	$	885,278	$	176,535	$	796,227	$	85,919		$	(39,989	)	$	169,360	$	866,403	$	1,017,684	$	165,597
Properties Held for Sale
Commercial
Dunes Plaza, Michigan City, IN		376		—		—		—			—			—		—		—		—		1978		03/92		40 years
Total Commercial Held for Sale	$	376	$	—	$	—	$	—		$	—		$	—	$	—	$	—	$	—
Total Properties Held for Sale	$	376	$	—	$	—	$	—		$	—		$	—	$	—	$	—	$	—
Properties Subject to Sales Contract Apartments
														—		—		—
Total Aparments Subject to Sales Contract	$	—	$	—	$	—	$	—		$	—		$	—	$	—	$	—	$	—
Commercial
								—										—				—
Total Commercial Subject to Sales Contract	$	—	$	—	$	—	$	—		$	—		$	—	$	—	$	—	$	—
Land
Dominion Tract, Dallas, TX	$	3,360	$	3,931	$	—	$	(304	)		(1,624	)	$	2,003	$	—	$	2,003	$	—		—		03/99		—
Hollywood Casino Tract I, Farmers Branch, TX		1,410		3,350		147		(1,013	)		(176	)		2,308		—		2,308		—		—		03/08		—
LaDue Land, Farmers Branch, TX		—		1,900		—		—			(55	)		1,845		—		1,845		—		—		07/98		—
Three Hickory Land, Farmers Branch, TX		—		1,202		—		—			—			1,202		—		1,202		—		—		03/14		—
Travelers Land, Farmers Branch, TX		—		21,511		—		4			—			21,515		—		21,515		—		—		11/06		—
Travelers Land, Farmers Branch, TX		—		6,891		—		(4,978	)		—			1,913		—		1,913		—		—		11/06		—
Valwood Land, Farmers Branch, TX		—		3,332		—		—			—			3,332		—		3,332		—				03/14
Walker Land, Dallas County, TX		—		19,728		—		(5,992	)		(562	)		13,174		—		13,174		—		—		09/06		—
Whorton Land, Bentonville, AR		372		3,510		—		568			(2,451	)		1,627		—		1,627		—		—		06/05		—
Total Land Subject to Sales Contract	$	5,142	$	65,355	$	147	$	(11,714	)	$	(4,868	)	$	48,919	$	—	$	48,919	$	—
Total Properties Subject to Sales Contract	$	5,142	$	65,355	$	147	$	(11,714	)	$	(4,868	)	$	48,919	$	—	$	48,919	$	—
Land Sold
			$	—	$	—	$	—			—		$	—	$	—	$	—	$	—
Total Land Subject to Sales Contract	$	—	$	—	$	—	$	—		$	—		$	—	$	—	$	—	$	—
TOTAL:  Real Estate	$	890,796	$	241,890	$	796,374	$	74,205		$	(44,857	)	$	218,280	$	866,403	$	1,066,603	$	165,597

SCHEDULE III

(Continued)

REAL ESTATE AND ACCUMULATED DEPRECIATION
As of December 31,
	2016			2015			2014
	(dollars in thousansds)
Reconciliation of Real Estate
Balance at January 1,	$	1,003,545		$	831,540		$	848,062
Additions
Acquisitions, improvements and construction		112,762			216,090			75,945
Deductions
Sale of real estate		(49,704	)		(38,785	)		(92,467	)
Asset impairments		—			(5,300	)		—
Balance at December 31,	$	1,066,603		$	1,003,545		$	831,540
Reconciliation of Accumulated Depreciation
Balance at January 1,	$	150,038		$	131,777		$	147,768
Additions
Depreciation		23,277			20,386			18,077
Deductions
Sale of real estate		(7,718	)		(2,125	)		(34,068	)
Balance at December 31,	$	165,597		$	150,038		$	131,777