Schedule III Real Estate and Accumulated Depreciation

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 and Accumulated Depreciation

Schedule III

Real Estate and Accumulated Depreciation

December 31, 2019

(in thousands)

			Initial Cost (A)							Gross amount carried at end of period
Property Name	Encumbrance		Land		Buildings and Improvements		Adjustments to Basis (C)			Land and Improvements		Buildings and Improvements (D)		Total (B), (D)		Accumulated Depreciation (E)		Date Constructed	Date Acquired
Ashland & Roosevelt	$	439	$	13,850	$	21,052	$	1,277		$	13,850	$	22,329	$	36,179	$	11,630	2002	05/05
Chicago, IL
Avondale Plaza	—		4,573		9,497		74			4,573		9,571		14,144		1,890		2005	11/14
Redmond, WA
Bed Bath & Beyond Plaza	—		4,530		11,901		405			4,530		12,306		16,836		6,355		2000-2002	07/05
Westbury, NY
The Brickyard	—		45,300		26,657		8,870			45,300		35,527		80,827		18,094		1977/2004	04/05
Chicago, IL
Carillon (a)	—		15,261		114,703		(109,424		)	2,811		17,729		20,540		8,263		2004	09/04
Largo, MD
Cedar Park Town Center	—		23,923		13,829		251			23,923		14,080		38,003		3,286		2013	02/15
Cedar Park, TX
Central Texas Marketplace	—		13,000		47,559		11,122			13,000		58,681		71,681		26,896		2004	12/06
Waco, TX
Centre at Laurel	—		19,000		8,406		17,479			18,700		26,185		44,885		12,808		2005	02/06
Laurel, MD
Chantilly Crossing	—		8,500		16,060		2,560			8,500		18,620		27,120		9,765		2004	05/05
Chantilly, VA
Circle East (a) (b)	—		9,050		17,840		(26,484		)	—		406		406		55		1998	7/04
Towson, MD
Clearlake Shores	—		1,775		7,026		1,363			1,775		8,389		10,164		4,377		2003-2004	04/05
Clear Lake, TX
Coal Creek Marketplace	—		5,023		12,382		261			5,023		12,643		17,666		2,095		1991	08/15
Newcastle, WA
Colony Square	—		16,700		22,775		7,781			16,700		30,556		47,256		13,605		1997	05/06
Sugar Land, TX
The Commons at Temecula	—		12,000		35,887		7,145			12,000		43,032		55,032		22,053		1999	04/05
Temecula, CA
Coppell Town Center	—		2,919		13,281		330			2,919		13,611		16,530		3,342		1999	10/13
Coppell, TX
Coram Plaza	—		10,200		26,178		3,900			10,200		30,078		40,278		16,391		2004	12/04
Coram, NY
Cypress Mill Plaza	—		4,962		9,976		178			4,962		10,154		15,116		2,677		2004	10/13
Cypress, TX

RETAIL PROPERTIES OF AMERICA, INC.

Schedule III

Real Estate and Accumulated Depreciation

December 31, 2019

(in thousands)

			Initial Cost (A)						Gross amount carried at end of period
Property Name	Encumbrance		Land		Buildings and Improvements		Adjustments to Basis (C)		Land and Improvements		Buildings and Improvements (D)		Total (B), (D)		Accumulated Depreciation (E)		Date Constructed	Date Acquired
Davis Towne Crossing	$	—	$	1,850	$	5,681	$	1,210	$	1,671	$	7,070	$	8,741	$	3,905	2003-2004	06/04
North Richland Hills, TX
Denton Crossing	—		6,000		43,434		17,093		6,000		60,527		66,527		31,246		2003-2004	10/04
Denton, TX
Downtown Crown	—		43,367		110,785		5,073		43,367		115,858		159,225		21,752		2014	01/15
Gaithersburg, MD
East Stone Commons	—		2,900		28,714		338		2,826		29,126		31,952		14,338		2005	06/06
Kingsport, TN
Eastside	—		4,055		17,620		87		4,055		17,707		21,762		2,582		2008	06/16
Richardson, TX
Eastwood Towne Center	—		12,000		65,067		9,765		12,000		74,832		86,832		39,860		2002	05/04
Lansing, MI
Edwards Multiplex	—		11,800		33,098		—		11,800		33,098		44,898		17,797		1997	05/05
Ontario, CA
Fairgrounds Plaza	—		4,800		13,490		5,082		5,431		17,941		23,372		9,338		2002-2004	01/05
Middletown, NY
Fordham Place	—		17,209		96,547		328		17,209		96,875		114,084		21,263		Redev: 2009	11/13
Bronx, NY
Fort Evans Plaza II	—		16,118		44,880		407		16,118		45,287		61,405		9,194		2008	01/15
Leesburg, VA
Fullerton Metrocenter	—		—		47,403		3,643		—		51,046		51,046		28,723		1988	06/04
Fullerton, CA
Galvez Shopping Center	—		1,250		4,947		442		1,250		5,389		6,639		2,838		2004	06/05
Galveston, TX
Gardiner Manor Mall	—		12,348		56,199		1,941		12,348		58,140		70,488		11,944		2000	06/14
Bay Shore, NY
Gateway Pavilions	—		9,880		55,195		5,090		9,880		60,285		70,165		31,744		2003-2004	12/04
Avondale, AZ
Gateway Plaza	—		—		26,371		5,599		—		31,970		31,970		17,077		2000	07/04
Southlake, TX
Gateway Station	—		1,050		3,911		1,333		1,050		5,244		6,294		2,761		2003-2004	12/04
College Station, TX
Gateway Station II & III	—		3,280		11,557		371		3,280		11,928		15,208		5,301		2006-2007	05/07
College Station, TX

RETAIL PROPERTIES OF AMERICA, INC.

Schedule III

Real Estate and Accumulated Depreciation

December 31, 2019

(in thousands)

			Initial Cost (A)							Gross amount carried at end of period
Property Name	Encumbrance		Land		Buildings and Improvements		Adjustments to Basis (C)			Land and Improvements		Buildings and Improvements (D)		Total (B), (D)		Accumulated Depreciation (E)		Date Constructed	Date Acquired
Gateway Village	$	32,580	$	8,550	$	39,298	$	6,753		$	8,550	$	46,051	$	54,601	$	24,933	1996	07/04
Annapolis, MD
Gerry Centennial Plaza	—		5,370		12,968		10,137			5,370		23,105		28,475		10,214		2006	06/07
Oswego, IL
Grapevine Crossing	—		4,100		16,938		492			3,894		17,636		21,530		9,371		2001	04/05
Grapevine, TX
Green's Corner	—		3,200		8,663		1,468			3,200		10,131		13,331		5,187		1997	12/04
Cumming, GA
Gurnee Town Center	—		7,000		35,147		6,828			7,000		41,975		48,975		22,023		2000	10/04
Gurnee, IL
Henry Town Center	—		10,650		46,814		9,419			10,650		56,233		66,883		28,361		2002	12/04
McDonough, GA
Heritage Square	—		6,377		11,385		2,393			6,377		13,778		20,155		3,036		1985	02/14
Issaquah, WA
Heritage Towne Crossing	—		3,065		10,729		1,757			3,065		12,486		15,551		7,121		2002	03/04
Euless, TX
Home Depot Center	—		—		16,758		—			—		16,758		16,758		8,908		1996	06/05
Pittsburgh, PA
HQ Building	—		5,200		10,010		4,406			5,200		14,416		19,616		7,785		Redev: 2004	12/05
San Antonio, TX
Huebner Oaks Center	—		18,087		64,731		3,107			18,087		67,838		85,925		13,495		1996	06/14
San Antonio, TX
Humblewood Shopping Center	—		2,200		12,823		1,244			2,200		14,067		16,267		7,039		Renov: 2005	11/05
Humble, TX
Jefferson Commons	—		23,097		52,762		3,791			23,097		56,553		79,650		24,281		2005	02/08
Newport News, VA
John's Creek Village	—		14,446		23,932		1,278			14,295		25,361		39,656		5,526		2004	06/14
John's Creek, GA
King Philip's Crossing	—		3,710		19,144		(11,171		)	3,388		8,295		11,683		—		2005	11/05
Seekonk, MA
La Plaza Del Norte	—		16,005		37,744		5,404			16,005		43,148		59,153		24,321		1996/1999	01/04
San Antonio, TX
Lake Worth Towne Crossing	—		6,600		30,910		9,357			6,600		40,267		46,867		18,947		2005	06/06
Lake Worth, TX

RETAIL PROPERTIES OF AMERICA, INC.

Schedule III

Real Estate and Accumulated Depreciation

December 31, 2019

(in thousands)

			Initial Cost (A)							Gross amount carried at end of period
Property Name	Encumbrance		Land		Buildings and Improvements		Adjustments to Basis (C)			Land and Improvements		Buildings and Improvements (D)		Total (B), (D)		Accumulated Depreciation (E)		Date Constructed	Date Acquired
Lakewood Towne Center	$	—	$	12,555	$	74,612	$	(8,038	)	$	12,555	$	66,574	$	79,129	$	34,695	1998/2002-	06/04
Lakewood, WA																		2003
Lincoln Park	—		38,329		17,772		733			38,329		18,505		56,834		3,957		1997	06/14
Dallas, TX
Lincoln Plaza	—		13,000		46,482		23,209			13,110		69,581		82,691		35,147		2001-2004	09/05
Worcester, MA
Lowe's/Bed, Bath & Beyond	—		7,423		799		(8		)	7,415		799		8,214		763		2005	08/05
Butler, NJ
MacArthur Crossing	—		4,710		16,265		2,691			4,710		18,956		23,666		10,766		1995-1996	02/04
Los Colinas, TX
Main Street Promenade	—		4,317		83,276		289			4,317		83,565		87,882		9,027		2003 & 2014	01/17
Naperville, IL
Manchester Meadows	—		14,700		39,738		9,395			14,700		49,133		63,833		25,661		1994-1995	08/04
Town and Country, MO
Mansfield Towne Crossing	—		3,300		12,195		3,701			3,300		15,896		19,196		8,716		2003-2004	11/04
Mansfield, TX
Merrifield Town Center	—		18,678		36,496		1,224			18,678		37,720		56,398		7,001		2008	01/15
Falls Church, VA
Merrifield Town Center II	—		28,797		14,698		105			28,797		14,803		43,600		2,142		1972 Renov:	01/16
Falls Church, VA																		2006-2007
New Forest Crossing	—		4,390		11,313		1,107			4,390		12,420		16,810		2,949		2003	10/13
Houston, TX
New Hyde Park Shopping Center	—		14,568		5,562		(11		)	14,568		5,551		20,119		625		1964 Renov:	07/17
New Hyde Park, NY																		2011
Newnan Crossing I & II	—		15,100		33,987		9,863			15,100		43,850		58,950		22,945		1999 &	12/03 &
Newnan, GA																		2004	02/04
Newton Crossroads	—		3,350		6,927		927			3,350		7,854		11,204		4,037		1997	12/04
Covington, GA
North Benson Center	—		13,275		10,619		487			13,275		11,106		24,381		386		1988-1990	03/19
Renton, WA
Northgate North	24,675		7,540		49,078		(12,582		)	7,540		36,496		44,036		21,016		1999-2003	06/04
Seattle, WA
Northpointe Plaza	—		13,800		37,707		9,544			13,800		47,251		61,051		24,725		1991-1993	05/04
Spokane, WA

RETAIL PROPERTIES OF AMERICA, INC.

Schedule III

Real Estate and Accumulated Depreciation

December 31, 2019

(in thousands)

			Initial Cost (A)						Gross amount carried at end of period
Property Name	Encumbrance		Land		Buildings and Improvements		Adjustments to Basis (C)		Land and Improvements		Buildings and Improvements (D)		Total (B), (D)		Accumulated Depreciation (E)		Date Constructed	Date Acquired
Oak Brook Promenade	$	—	$	10,343	$	50,057	$	1,776	$	10,343	$	51,833	$	62,176	$	7,789	2006	03/16
Oak Brook, IL
One Loudoun (a)	—		26,799		122,224		129		15,067		134,085		149,152		15,409		2013-2017	11/16, 2/17,
Ashburn, VA																		4/17, 5/17, 8/17 & 11/18
Oswego Commons	—		6,454		16,004		1,701		6,454		17,705		24,159		4,241		2002-2004	06/14
Oswego, IL
Paradise Valley Marketplace	—		8,134		20,425		2,562		8,134		22,987		31,121		12,343		2002	4/04 & 6/19
Phoenix, AZ
Parkway Towne Crossing	—		6,142		20,423		9,508		6,142		29,931		36,073		15,903		2010	08/06
Frisco, TX
Pavilion at Kings Grant I & II	—		10,274		12,392		21,340		10,105		33,901		44,006		13,023		2002-2003	12/03 &
Concord, NC																	& 2005	06/06
Pelham Manor Shopping Plaza	—		—		67,870		938		—		68,808		68,808		16,824		2008	11/13
Pelham Manor, NY
Peoria Crossings I & II	24,110		6,995		32,816		4,653		8,495		35,969		44,464		20,076		2002-2003	03/04 &
Peoria, AZ																	& 2005	05/05
Plaza at Marysville	—		6,600		13,728		1,162		6,600		14,890		21,490		8,230		1995	07/04
Marysville, WA
Plaza del Lago	—		12,042		33,382		4,027		12,042		37,409		49,451		2,741		1928 Renov:	12/17
Wilmette, IL																	1996/2019
Pleasant Run	—		4,200		29,085		7,629		4,200		36,714		40,914		19,012		2004	12/04
Cedar Hill, TX
Reisterstown Road Plaza	—		15,800		70,372		24,474		15,790		94,856		110,646		45,506		1986/2004/	08/04
Baltimore, MD																	2018
Rivery Town Crossing	—		2,900		6,814		1,284		2,900		8,098		10,998		3,638		2005	10/06
Georgetown, TX
Royal Oaks Village II	—		3,450		17,000		964		3,450		17,964		21,414		7,022		2004-2005	11/05
Houston, TX
Sawyer Heights Village	—		24,214		15,797		778		24,214		16,575		40,789		4,170		2007	10/13
Houston, TX
Shoppes at Hagerstown	—		4,034		21,937		275		4,034		22,212		26,246		3,670		2008	01/16
Hagerstown, MD
The Shoppes at Quarterfield	—		2,190		8,840		359		2,190		9,199		11,389		5,207		1999	01/04
Severn, MD

RETAIL PROPERTIES OF AMERICA, INC.

Schedule III

Real Estate and Accumulated Depreciation

December 31, 2019

(in thousands)

			Initial Cost (A)							Gross amount carried at end of period
Property Name	Encumbrance		Land		Buildings and Improvements		Adjustments to Basis (C)			Land and Improvements		Buildings and Improvements (D)		Total (B), (D)		Accumulated Depreciation (E)		Date Constructed	Date Acquired
The Shoppes at Union Hill	$	12,351	$	12,666	$	45,227	$	2,608		$	12,666	$	47,835	$	60,501	$	6,789	2003	04/16
Denville, NJ
Shoppes of New Hope	—		1,350		11,045		258			1,350		11,303		12,653		6,325		2004	07/04
Dallas, GA
Shoppes of Prominence Point I & II	—		3,650		12,652		734			3,650		13,386		17,036		7,304		2004 & 2005	06/04 &
Canton, GA																			09/05
Shops at Forest Commons	—		1,050		6,133		428			1,050		6,561		7,611		3,607		2002	12/04
Round Rock, TX
The Shops at Legacy	—		8,800		108,940		19,162			8,800		128,102		136,902		58,203		2002	06/07
Plano, TX
Shops at Park Place	—		9,096		13,175		4,735			9,096		17,910		27,006		8,900		2001	10/03
Plano, TX
Southlake Corners	—		6,612		23,605		200			6,612		23,805		30,417		5,567		2004	10/13
Southlake, TX
Southlake Town Square I - VII (c)	—		43,790		210,402		32,890			41,604		245,478		287,082		111,172		1998-2007	12/04, 5/07,
Southlake, TX																			9/08 & 3/09
Stilesboro Oaks	—		2,200		9,426		816			2,200		10,242		12,442		5,448		1997	12/04
Acworth, GA
Stonebridge Plaza	—		1,000		5,783		847			1,000		6,630		7,630		3,373		1997	08/05
McKinney, TX
Streets of Yorktown	—		3,440		22,111		(20,558		)	1,062		3,931		4,993		72		2005	12/05
Houston, TX
Tacoma South	—		10,976		22,898		222			10,976		23,120		34,096		3,367		1984-2015	05/16
Tacoma, WA
Target South Center	—		2,300		8,760		730			2,300		9,490		11,790		5,029		1999	11/05
Austin, TX
Tollgate Marketplace	—		8,700		61,247		14,954			8,700		76,201		84,901		37,215		1979/1994	07/04
Bel Air, MD
Towson Square (b)	—		13,757		21,958		383			13,757		22,341		36,098		3,441		2014	11/15
Towson, MD
Tysons Corner	—		22,525		7,184		3,799			22,525		10,983		33,508		1,504		1980	05/15
Vienna, VA																		Renov:2004, 2012/2013
Village Shoppes at Simonton	—		2,200		10,874		376			2,200		11,250		13,450		6,089		2004	08/04
Lawrenceville, GA

RETAIL PROPERTIES OF AMERICA, INC.

Schedule III

Real Estate and Accumulated Depreciation

December 31, 2019

(in thousands)

			Initial Cost (A)						Gross amount carried at end of period
Property Name	Encumbrance		Land		Buildings and Improvements		Adjustments to Basis (C)		Land and Improvements		Buildings and Improvements (D)		Total (B), (D)		Accumulated Depreciation (E)		Date Constructed	Date Acquired
Walter's Crossing	$	—	$	14,500	$	16,914	$	507	$	14,500	$	17,421	$	31,921	$	8,854	2005	07/06
Tampa, FL
Watauga Pavilion	—		5,185		27,504		1,728		5,185		29,232		34,417		16,223		2003-2004	05/04
Watauga, TX
Winchester Commons	—		4,400		7,471		930		4,400		8,401		12,801		4,384		1999	11/04
Memphis, TN
Woodinville Plaza	—		16,073		25,433		8,013		16,073		33,446		49,519		5,253		1981	06/15 &
Woodinville, WA																		8/16
Total	94,155		1,058,803		3,266,098		241,510		1,021,829		3,544,582		4,566,411		1,383,274
Developments in Progress	—		25,450		—		87,903		65,319		48,034		113,353		—
Total Investment Properties	$	94,155	$	1,084,253	$	3,266,098	$	329,413	$	1,087,148	$	3,592,616	$	4,679,764	$	1,383,274

(a) The cost basis associated with this property or a portion of this property is included within “Developments in progress” as the property or a portion of the property is an active redevelopment.

(b) The redevelopment at Circle East is no longer combined with the Company’s neighboring property Towson Square.

(c) The Company acquired a parcel at this property in 2019.

RETAIL PROPERTIES OF AMERICA, INC.

Notes:

(A) The initial cost to the Company represents the original purchase price of the property, including amounts incurred subsequent to acquisition which were contemplated at the time the property was acquired.

(B) The aggregate cost of real estate owned as of December 31, 2019 for U.S. federal income tax purposes was approximately $4,690,491.

(C) Adjustments to basis include payments received under master lease agreements as well as additional tangible costs associated with the investment properties, including any earnout of tenant space.

(D) Reconciliation of real estate owned:

	2019			2018			2017
Balance as of January 1,	$	4,692,754		$	4,785,927		$	5,499,506
Purchases and additions to investment property	133,259			114,050			272,145
Sale and write-offs of investment property	(111,557		)	(203,766		)	(829,170		)
Property held for sale	—			—			(2,791		)
Provision for asset impairment	(34,692		)	(3,457		)	(153,763		)
Balance as of December 31,	$	4,679,764		$	4,692,754		$	4,785,927

(E) Reconciliation of accumulated depreciation:

	2019			2018			2017
Balance as of January 1,	$	1,313,602		$	1,215,990		$	1,443,333
Depreciation expense	173,619			149,302			171,823
Sale and write-offs of investment property	(81,438		)	(48,795		)	(308,662		)
Property held for sale	—			—			(27		)
Provision for asset impairment	(22,509		)	(2,895		)	(90,477		)
Balance as of December 31,	$	1,383,274		$	1,313,602		$	1,215,990

Depreciation is computed based upon the following estimated useful lives in the accompanying consolidated statements of operations and other comprehensive (loss) income:

	Years
Building and improvements	30
Site improvements	15
Tenant improvements	Life of related lease