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Schedule III - Real Estate and Accumulated Depreciation
12 Months Ended
Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III - Real Estate and Accumulated Depreciation
SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2015
(in thousands)
 
 
 
 
Initial Cost to 
Company
 
Cost Capitalized
Subsequent to
Acquisition (a)
 
Increase 
(Decrease)
in Net
Investments (b)
 
Gross Amount at which 
Carried at Close of Period (c)
 
Accumulated Depreciation (c)
 
Date of Construction
 
Date Acquired
 
Life on which
Depreciation in Latest
Statement of 
Income
is Computed
Description
 
Encumbrances
 
Land
 
Buildings
 
 
 
Land
 
Buildings
 
Total
 
 
 
 
Real Estate Under Operating Leases
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
Industrial facility in Norfolk, NE
 
$
1,503

 
$
625

 
$
1,713

 
$

 
$
107

 
$
625

 
$
1,820

 
$
2,445

 
$
460

 
1975
 
Jun. 2008
 
30 yrs.
Office facility in Soest, Germany and warehouse facility in Bad Wünnenberg, Germany
 

 
3,193

 
45,932

 

 
(15,335
)
 
2,196

 
31,594

 
33,790

 
6,315

 
1982; 1996
 
Jul. 2008
 
36 yrs.
Learning center in Chicago, IL
 
13,245

 
6,300

 
20,509

 

 
(527
)
 
6,300

 
19,982

 
26,282

 
4,995

 
1912
 
Jul. 2008
 
30 yrs.
Industrial facilities in Sergeant Bluff, IA; Bossier City, LA; and Alvarado, TX
 
29,475

 
2,725

 
25,233

 
28,116

 
(3,395
)
 
4,701

 
47,978

 
52,679

 
6,529

 
Various
 
Aug. 2008
 
25 - 40 yrs.
Industrial facility in Waldaschaff, Germany
 

 
10,373

 
16,708

 

 
(13,122
)
 
5,294

 
8,665

 
13,959

 
3,904

 
1937
 
Aug. 2008
 
15 yrs.
Sports facilities in Phoenix, AZ and Columbia, MD
 
35,396

 
14,500

 
48,865

 

 
(2,062
)
 
14,500

 
46,803

 
61,303

 
8,485

 
2006
 
Sep. 2008
 
40 yrs.
Office facility in Birmingham, United Kingdom
 
12,350

 
3,591

 
15,810

 
949

 
(1,616
)
 
3,283

 
15,451

 
18,734

 
2,332

 
2009
 
Sep. 2009
 
40 yrs.
Retail facilities in Gorzow, Poland
 
5,963

 
1,095

 
13,947

 

 
(3,899
)
 
812

 
10,331

 
11,143

 
1,618

 
2007; 2008
 
Oct. 2009
 
40 yrs.
Office facility in Hoffman Estates, IL
 
18,619

 
5,000

 
21,764

 

 

 
5,000

 
21,764

 
26,764

 
3,301

 
2009
 
Dec. 2009
 
40 yrs.
Office facility in The Woodlands, TX
 
36,386

 
1,400

 
41,502

 

 

 
1,400

 
41,502

 
42,902

 
6,311

 
2009
 
Dec. 2009
 
40 yrs.
Retail facilities located throughout Spain
 
36,406

 
32,574

 
52,101

 

 
(18,452
)
 
25,331

 
40,892

 
66,223

 
6,124

 
Various
 
Dec. 2009
 
20 yrs.
Industrial facilities in Middleburg Heights and Union Township, OH
 
5,902

 
1,000

 
10,793

 
2

 

 
1,000

 
10,795

 
11,795

 
1,596

 
1997
 
Feb. 2010
 
40 yrs.
Industrial facilities in Phoenix, AZ; Colton, Fresno, Los Angeles, Orange, Pomona, and San Diego, CA; Safety Harbor, FL; Durham, NC; and Columbia, SC
 
13,008

 
19,001

 
13,059

 

 

 
19,001

 
13,059

 
32,060

 
2,210

 
Various
 
Mar. 2010
 
27 - 40 yrs.
Industrial facility in Evansville, IN
 
15,942

 
150

 
9,183

 
11,745

 

 
150

 
20,928

 
21,078

 
2,741

 
2009
 
Mar. 2010
 
40 yrs.
Warehouse facilities in Bristol, Cannock, Liverpool, Luton, Plymouth, Southampton, and Taunton, United Kingdom
 
4,780

 
8,639

 
2,019

 

 
(374
)
 
8,321

 
1,963

 
10,284

 
398

 
Various
 
Apr. 2010
 
28 yrs.
Warehouse facilities in Zagreb, Croatia
 
38,247

 
31,941

 
45,904

 

 
(13,148
)
 
26,395

 
38,302

 
64,697

 
7,236

 
2001; 2009
 
Apr. 2010
 
30 yrs.
Office facilities in Tampa, FL
 
33,494

 
18,300

 
32,856

 
1,161

 

 
18,323

 
33,994

 
52,317

 
4,647

 
1985; 2000
 
May 2010
 
40 yrs.
Warehouse facility in Bowling Green, KY
 
26,589

 
1,400

 
3,946

 
33,809

 

 
1,400

 
37,755

 
39,155

 
4,092

 
2011
 
May 2010
 
40 yrs.
Retail facility in Elorrio, Spain
 

 
19,924

 
3,981

 

 
(2,180
)
 
18,013

 
3,712

 
21,725

 
510

 
1996
 
Jun. 2010
 
40 yrs.
Warehouse facility in Gadki, Poland
 
3,983

 
1,134

 
1,183

 
7,611

 
(2,269
)
 
872

 
6,787

 
7,659

 
805

 
2011
 
Aug. 2010
 
40 yrs.
Industrial and office facilities in Elberton, GA
 

 
560

 
2,467

 

 

 
560

 
2,467

 
3,027

 
379

 
1997; 2002
 
Sep. 2010
 
40 yrs.
Warehouse facilities in Rincon and Unadilla, GA
 
25,450

 
1,595

 
44,446

 

 

 
1,595

 
44,446

 
46,041

 
5,740

 
2000; 2006
 
Nov. 2010
 
40 yrs.
Office facility in Hartland, WI
 
3,338

 
1,402

 
2,041

 

 

 
1,402

 
2,041

 
3,443

 
301

 
2001
 
Nov. 2010
 
35 yrs.
SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)
December 31, 2015
(in thousands)
 
 
 
 
Initial Cost to 
Company
 
Cost Capitalized
Subsequent to
Acquisition (a)
 
Increase 
(Decrease)
in Net
Investments (b)
 
Gross Amount at which 
Carried at Close of Period (c)
 
Accumulated Depreciation (c)
 
Date of Construction
 
Date Acquired
 
Life on which
Depreciation in Latest
Statement of 
Income
is Computed
Description
 
Encumbrances
 
Land
 
Buildings
 
 
 
Land
 
Buildings
 
Total
 
 
 
 
Retail facilities in Kutina, Slavonski Brod, Spansko, and Zagreb, Croatia
 
16,530

 
6,700

 
24,114

 
194

 
(5,630
)
 
5,444

 
19,934

 
25,378

 
3,374

 
2002; 2003; 2007
 
Dec. 2010
 
30 yrs.
Warehouse facilities located throughout the United States
 
108,331

 
31,735

 
129,011

 

 
(9,680
)
 
28,511

 
122,555

 
151,066

 
17,592

 
Various
 
Dec. 2010
 
40 yrs.
Office facility in Madrid, Spain
 

 
22,230

 
81,508

 

 
(17,749
)
 
18,423

 
67,566

 
85,989

 
8,444

 
2002
 
Dec. 2010
 
40 yrs.
Office facility in Houston, TX
 
3,329

 
1,838

 
2,432

 

 
20

 
1,838

 
2,452

 
4,290

 
491

 
1982
 
Dec. 2010
 
25 yrs.
Retail facility in Las Vegas, NV
 
40,000

 
26,934

 
31,037

 
26,048

 
(44,166
)
 
5,070

 
34,783

 
39,853

 
3,053

 
2012
 
Dec. 2010
 
40 yrs.
Warehouse facilities in Oxnard and Watsonville, CA
 
42,735

 
16,036

 
67,300

 

 
(7,149
)
 
16,036

 
60,151

 
76,187

 
8,371

 
Various
 
Jan. 2011
 
10 - 40 yrs.
Warehouse facility in Dillon, SC
 
18,484

 
1,355

 
15,620

 
1,600

 
(69
)
 
1,286

 
17,220

 
18,506

 
1,952

 
2001
 
Mar. 2011
 
40 yrs.
Warehouse facility in Middleburg Heights, OH
 

 
600

 
1,690

 

 

 
600

 
1,690

 
2,290

 
201

 
2002
 
Mar. 2011
 
40 yrs.
Office facility in Martinsville, VA
 
8,392

 
600

 
1,998

 
10,999

 

 
600

 
12,997

 
13,597

 
1,318

 
2011
 
May 2011
 
40 yrs.
Land in Chicago, IL
 
4,921

 
7,414

 

 

 

 
7,414

 

 
7,414

 

 
N/A
 
Jun. 2011
 
N/A
Industrial facility in Fraser, MI
 
4,093

 
928

 
1,392

 
6,193

 
(80
)
 
928

 
7,505

 
8,433

 
754

 
2012
 
Sep. 2011
 
35 yrs.
Retail facilities located throughout Italy
 
176,206

 
91,691

 
262,377

 

 
(69,024
)
 
73,390

 
211,654

 
285,044

 
24,784

 
Various
 
Sep. 2011
 
29 - 40 yrs.
Retail facilities in Delnice, Pozega, and Sesvete, Croatia
 
18,868

 
2,687

 
24,820

 
15,378

 
(8,977
)
 
3,234

 
30,674

 
33,908

 
4,169

 
2011
 
Nov. 2011
 
30 yrs.
Retail facility in Orlando, FL
 

 
32,739

 

 
19,959

 
(32,739
)
 
5,577

 
14,382

 
19,959

 
558

 
2011
 
Dec. 2011
 
40 yrs.
Land in Hudson, NY
 
775

 
2,080

 

 

 

 
2,080

 

 
2,080

 

 
N/A
 
Dec. 2011
 
N/A
Office facilities in Aurora, Eagan, and Virginia, MN
 
92,400

 
13,546

 
110,173

 

 
993

 
13,546

 
111,166

 
124,712

 
14,968

 
Various
 
Jan. 2012
 
32 - 40 yrs.
Industrial facility in Chmielów, Poland
 
15,589

 
1,323

 
5,245

 
30,804

 
(3,837
)
 
1,794

 
31,741

 
33,535

 
1,809

 
2012
 
Apr. 2012
 
40 yrs.
Office facility in St. Louis, MO
 
4,007

 
954

 
4,665

 

 

 
954

 
4,665

 
5,619

 
448

 
1995
 
Jul. 2012
 
38 yrs.
Industrial facility in Avon, OH
 
3,570

 
926

 
4,975

 

 

 
926

 
4,975

 
5,901

 
519

 
2001
 
Aug. 2012
 
35 yrs.
Industrial facility in Elk Grove Village, IL
 
9,062

 
1,269

 
11,317

 
59

 

 
1,269

 
11,376

 
12,645

 
1,799

 
1961
 
Aug. 2012
 
40 yrs.
Learning centers in Montgomery, AL and Savannah, GA
 
15,950

 
5,255

 
16,960

 

 

 
5,255

 
16,960

 
22,215

 
1,719

 
1969; 2002
 
Sep. 2012
 
40 yrs.
Automotive dealerships in Huntsville, AL; Bentonville, AR; Bossier City, LA; Lee’s Summit, MO; Fayetteville, TN; and Fort Worth, TX
 

 
17,283

 
32,225

 

 
(15
)
 
17,269

 
32,224

 
49,493

 
4,751

 
Various
 
Sep. 2012
 
16 yrs.
Office facility in Warrenville, IL
 
18,956

 
3,698

 
28,635

 

 

 
3,698

 
28,635

 
32,333

 
2,705

 
2002
 
Sep. 2012
 
40 yrs.
Office and warehouse facilities in Zary, Poland
 
2,944

 
356

 
1,168

 
6,910

 
(1,394
)
 
297

 
6,743

 
7,040

 
477

 
2013
 
Sep. 2012
 
40 yrs.
Industrial facility in Sterling, VA
 
14,070

 
3,118

 
14,007

 
5,071

 

 
3,118

 
19,078

 
22,196

 
1,819

 
1980
 
Oct. 2012
 
35 yrs.
Office facility in Houston, TX
 
128,200

 
19,331

 
123,084

 
4,520

 
2,899

 
19,331

 
130,503

 
149,834

 
13,645

 
1973
 
Nov. 2012
 
30 yrs.
Retail facility in Orlando, FL
 
56,733

 
3,307

 
10,607

 
103,914

 

 
26,000

 
91,828

 
117,828

 
1,658

 
2012
 
Nov. 2012
 
40 yrs.
Office facility in Eagan, MN
 
9,428

 
2,104

 
11,462

 

 
(85
)
 
1,994

 
11,487

 
13,481

 
1,073

 
2003
 
Dec. 2012
 
35 yrs.
SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)
December 31, 2015
(in thousands) 
 
 
 
 
Initial Cost to 
Company
 
Cost Capitalized
Subsequent to
Acquisition (a)
 
Increase 
(Decrease)
in Net
Investments (b)
 
Gross Amount at which 
Carried at Close of Period (c)
 
Accumulated Depreciation (c)
 
Date of Construction
 
Date Acquired
 
Life on which
Depreciation in Latest
Statement of 
Income
is Computed
Description
 
Encumbrances
 
Land
 
Buildings
 
 
 
Land
 
Buildings
 
Total
 
 
 
 
Warehouse facility in Saitama Prefecture, Japan
 
21,596

 
17,292

 
28,575

 

 
(14,565
)
 
11,801

 
19,501

 
31,302

 
2,383

 
2006
 
Dec. 2012
 
26 yrs.
Retail facilities in Bjelovar, Karlovac, Krapina, Metkovic, Novigrad, Porec, Umag, and Vodnjan, Croatia
 
20,060

 
5,059

 
28,294

 
6,634

 
(6,823
)
 
5,928

 
27,236

 
33,164

 
2,105

 
Various
 
Dec. 2012
 
32 - 40 yrs.
Industrial facility in Portage, WI
 
4,738

 
3,338

 
4,556

 
502

 

 
3,338

 
5,058

 
8,396

 
552

 
1970
 
Jan. 2013
 
30 yrs.
Retail facility in Dallas, TX
 
10,013

 
4,441

 
9,649

 

 

 
4,441

 
9,649

 
14,090

 
706

 
1913
 
Feb. 2013
 
40 yrs.
Warehouse facility in Dillon, SC
 
26,000

 
3,096

 
2,281

 
37,989

 

 
3,096

 
40,270

 
43,366

 
1,593

 
2013
 
Mar. 2013
 
40 yrs.
Land in Chicago, IL
 

 
15,459

 

 

 

 
15,459

 

 
15,459

 

 
N/A
 
Apr. 2013
 
N/A
Office facility in Northbrook, IL
 
5,645

 

 
942

 

 

 

 
942

 
942

 
160

 
2007
 
May 2013
 
40 yrs.
Industrial facility in Wageningen, Netherlands
 
17,559

 
4,790

 
24,301

 
47

 
(4,868
)
 
4,028

 
20,242

 
24,270

 
1,286

 
2013
 
Jul. 2013
 
40 yrs.
Warehouse facilities in Gadki, Poland
 
31,437

 
9,219

 
48,578

 
121

 
(9,613
)
 
7,688

 
40,617

 
48,305

 
2,754

 
2007; 2010
 
Jul. 2013
 
40 yrs.
Automotive dealership in Lewisville, TX
 
9,450

 
3,269

 
9,605

 

 

 
3,269

 
9,605

 
12,874

 
787

 
2004
 
Aug. 2013
 
39 yrs.
Office facility in Auburn Hills, MI
 
6,055

 
789

 
7,163

 

 

 
789

 
7,163

 
7,952

 
428

 
2012
 
Oct. 2013
 
40 yrs.
Office facility in Haibach, Germany
 
9,100

 
2,544

 
11,114

 

 
(2,652
)
 
2,050

 
8,956

 
11,006

 
743

 
1993
 
Oct. 2013
 
30 yrs.
Office facility in Houston, TX
 
31,200

 
7,898

 
37,474

 
750

 
1,619

 
7,898

 
39,843

 
47,741

 
2,888

 
1963
 
Dec. 2013
 
30 yrs.
Office facility in Tempe, AZ
 
14,800

 

 
16,996

 
4,272

 

 

 
21,268

 
21,268

 
1,147

 
2000
 
Dec. 2013
 
40 yrs.
Office facility in Tucson, AZ
 
8,917

 
2,440

 
11,175

 

 

 
2,440

 
11,175

 
13,615

 
659

 
2002
 
Feb. 2014
 
38 yrs.
Industrial facility in Drunen, Netherlands
 

 
990

 
6,328

 
6,700

 
144

 
961

 
13,201

 
14,162

 
241

 
2014
 
Apr. 2014
 
40 yrs.
Industrial facility in New Concord, OH
 
1,680

 
784

 
2,636

 

 

 
784

 
2,636

 
3,420

 
153

 
1999
 
Apr. 2014
 
35 - 40 yrs.
Office facility in Krakow, Poland
 
5,529

 
2,771

 
6,549

 

 
(1,479
)
 
2,331

 
5,510

 
7,841

 
207

 
2003
 
Sep. 2014
 
40 yrs.
Retail facility in Gelsenkirchen, Germany
 

 
2,060

 
17,534

 
123

 
(2,713
)
 
1,775

 
15,229

 
17,004

 
584

 
1981
 
Oct. 2014
 
35 yrs.
Office facility in Plymouth, Minnesota
 
22,250

 
2,601

 
15,599

 
3,256

 

 
2,601

 
18,855

 
21,456

 
561

 
1999
 
Dec. 2014
 
40 yrs.
Office facility in San Antonio, TX
 
14,569

 
3,131

 
13,124

 

 

 
3,131

 
13,124

 
16,255

 
372

 
2002
 
Jan. 2015
 
40 yrs.
Warehouse facilities in Mszczonów and Tomaszów Mazowiecki, Poland
 
32,002

 
10,108

 
35,856

 
8

 
(1,772
)
 
9,716

 
34,484

 
44,200

 
969

 
1995; 2000
 
Feb. 2015
 
31 yrs.
Retail facilities in Joliet, IL; Fargo, ND; and Ashwaubenon, Brookfield, Greendale, and Wauwatosa, WI
 
42,284

 
20,936

 
34,627

 
98

 

 
20,936

 
34,725

 
55,661

 
759

 
Various
 
Jun. 2015
 
27 - 29 yrs.
Warehouse facility in Sered, Slovakia
 
11,391

 
4,059

 
15,297

 
61

 
(202
)
 
4,017

 
15,198

 
19,215

 
233

 
2004
 
Jul. 2015
 
36 yrs.
Industrial facility in Tuchomerice, Czech Republic
 
17,466

 
9,424

 
21,860

 

 
1

 
9,424

 
21,861

 
31,285

 
37

 
1998
 
Dec. 2015
 
40 yrs.
Office facility in Warsaw, Poland
 

 

 
54,296

 

 
1

 

 
54,297

 
54,297

 
80

 
2015
 
Dec. 2015
 
40 yrs.
 
 
$
1,537,390

 
$
640,957

 
$
1,958,193

 
$
375,603

 
$
(315,876
)
 
$
560,257

 
$
2,098,620

 
$
2,658,877

 
$
225,867

 
 
 
 
 
 


SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)
December 31, 2015
(in thousands)
 
 
 
 
Initial Cost to Company
 
Cost Capitalized
Subsequent to
Acquisition (a)
 
Increase 
(Decrease)
in Net
Investments (b)
 
Gross Amount at
which Carried at
Close of Period
Total
 
Date of Construction
 
Date Acquired
Description
 
Encumbrances
 
Land
 
Buildings
 
 
 
 
 
Direct Financing Method
 
 

 
 

 
 

 
 

 
  

 
 

 
 
 
 
Industrial and office facilities in Nagold, Germany
 
$

 
$
6,012

 
$
41,493

 
$

 
$
(28,529
)
 
$
18,976

 
1937; 1994
 
Aug. 2008
Industrial facilities in Mayodan, Sanford, and Stoneville, NC
 

 
3,100

 
35,766

 

 
(2,070
)
 
36,796

 
1992; 1997; 1998
 
Dec. 2008
Industrial facility in Glendale Heights, IL
 
17,527

 
3,820

 
11,148

 
18,245

 
2,758

 
35,971

 
1991
 
Jan. 2009
Office facility in New York City, NY
 
107,483

 

 
233,720

 

 
13,620

 
247,340

 
2007
 
Mar. 2009
Industrial facilities in Colton, Fresno, Los Angeles, Orange, Pomona, and San Diego, CA; Holly Hill, FL; Rockmart, GA; Ooltewah, TN; and Dallas, TX
 
9,488

 
1,730

 
20,778

 

 
(736
)
 
21,772

 
Various
 
Mar. 2010
Warehouse facilities in Bristol, Leeds, Liverpool, Luton, Newport, Plymouth, and Southampton, United Kingdom
 
10,788

 
508

 
24,009

 

 
(2,202
)
 
22,315

 
Various
 
Apr. 2010
Retail facilities in Dugo Selo and Samobor, Croatia
 
8,211

 
1,804

 
11,618

 

 
(2,492
)
 
10,930

 
2002; 2003
 
Dec. 2010
Warehouse facility in Oxnard, CA
 
5,766

 

 
8,957

 

 
193

 
9,150

 
1975
 
Jan. 2011
Industrial facilities in Bartow, FL; Momence, IL; Smithfield, NC; Hudson, NY; and Ardmore, OK
 
21,888

 
3,750

 
50,177

 

 
4,864

 
58,791

 
Various
 
Apr. 2011
Industrial facility in Clarksville, TN
 
4,373

 
600

 
7,291

 

 
348

 
8,239

 
1998
 
Aug. 2011
Industrial facility in Countryside, IL
 
1,984

 
425

 
1,800

 

 
39

 
2,264

 
1981
 
Dec. 2011
Industrial facility in Bluffton, IN
 
1,898

 
264

 
3,407

 

 
20

 
3,691

 
1975
 
Apr. 2014
Retail facilities in Joliet, Illinois and Greendale, Wisconsin
 
14,886

 

 
19,002

 

 
327

 
19,329

 
1970; 1978
 
Jun. 2015
 
 
$
204,292

 
$
22,013

 
$
469,166

 
$
18,245

 
$
(13,860
)
 
$
495,564

 
 
 
 
SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)
December 31, 2015
(in thousands) 
 
 
 
 
Initial Cost to Company
 
Costs 
Capitalized
Subsequent to
Acquisition 
(a)
 
Increase 
(Decrease)
in Net
Investments
 (b)
 
Gross Amount at which Carried 
 at Close of Period (c)
 
 Accumulated
Depreciation 
(c)
 
Date of Construction
 
 Date
Acquired
 
Life on which
Depreciation
in Latest
Statement of
Income is
Computed
Description
 
Encumbrances
 
Land
 
Buildings
 
 
 
Land
 
Buildings
 
Total
 
 
 
 
Operating Real Estate – Self-Storage Facilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fort Worth, TX
 
$
1,538

 
$
610

 
$
2,672

 
$
53

 
$

 
$
610

 
$
2,725

 
$
3,335

 
$
386

 
2004
 
Apr. 2011
 
33 yrs.
Anaheim, CA
 
1,149

 
1,040

 
1,166

 
96

 

 
1,040

 
1,262

 
2,302

 
196

 
1988
 
Jun. 2011
 
33 yrs.
Apple Valley, CA
 
2,300

 
400

 
3,910

 
155

 

 
400

 
4,065

 
4,465

 
531

 
1989
 
Jun. 2011
 
35 yrs.
Apple Valley, CA
 
1,446

 
230

 
2,196

 
56

 

 
230

 
2,252

 
2,482

 
307

 
1989
 
Jun. 2011
 
33 yrs.
Bakersfield, CA
 
849

 
370

 
3,133

 
355

 

 
370

 
3,488

 
3,858

 
535

 
1972
 
Jun. 2011
 
30 yrs.
Bakersfield, CA
 
2,130

 
690

 
3,238

 
80

 

 
690

 
3,318

 
4,008

 
447

 
1987
 
Jun. 2011
 
34 yrs.
Bakersfield, CA
 
2,013

 
690

 
3,298

 
64

 

 
690

 
3,362

 
4,052

 
444

 
1990
 
Jun. 2011
 
35 yrs.
Bakersfield, CA
 
1,714

 
480

 
3,297

 
94

 

 
480

 
3,391

 
3,871

 
586

 
1974
 
Jun. 2011
 
35 yrs.
Fresno, CA
 
2,638

 
601

 
7,300

 
227

 

 
601

 
7,527

 
8,128

 
1,610

 
1976
 
Jun. 2011
 
30 yrs.
Grand Terrace, CA
 
728

 
950

 
1,903

 
110

 

 
950

 
2,013

 
2,963

 
354

 
1978
 
Jun. 2011
 
25 yrs.
Harbor City, CA
 
1,293

 
1,487

 
810

 
107

 

 
1,487

 
917

 
2,404

 
152

 
1987
 
Jun. 2011
 
30 yrs.
San Diego, CA
 
6,273

 
7,951

 
3,926

 
248

 

 
7,951

 
4,174

 
12,125

 
642

 
1986
 
Jun. 2011
 
30 yrs.
Palm Springs, CA
 
2,511

 
1,287

 
3,124

 
65

 

 
1,287

 
3,189

 
4,476

 
489

 
1989
 
Jun. 2011
 
30 yrs.
Palmdale, CA
 
2,773

 
940

 
4,263

 
269

 

 
940

 
4,532

 
5,472

 
640

 
1988
 
Jun. 2011
 
32 yrs.
Palmdale, CA
 
2,081

 
1,220

 
2,954

 
100

 

 
1,220

 
3,054

 
4,274

 
421

 
1988
 
Jun. 2011
 
33 yrs.
Riverside, CA
 
1,124

 
560

 
1,492

 
93

 

 
560

 
1,585

 
2,145

 
234

 
1985
 
Jun. 2011
 
30 yrs.
Rosamond, CA
 
1,700

 
460

 
3,220

 
54

 

 
460

 
3,274

 
3,734

 
449

 
1995
 
Jun. 2011
 
33 yrs.
Rubidoux, CA
 
1,247

 
514

 
1,653

 
93

 

 
514

 
1,746

 
2,260

 
234

 
1986
 
Jun. 2011
 
33 yrs.
South Gate, CA
 
1,774

 
1,597

 
2,067

 
102

 

 
1,597

 
2,169

 
3,766

 
337

 
1925
 
Jun. 2011
 
30 yrs.
Kailua-Kona, HI
 
832

 
1,000

 
1,108

 
59

 

 
1,000

 
1,167

 
2,167

 
207

 
1987
 
Jun. 2011
 
30 yrs.
Chicago, IL
 
2,342

 
600

 
4,124

 
198

 

 
600

 
4,322

 
4,922

 
588

 
1916
 
Jun. 2011
 
25 yrs.
Chicago, IL
 
1,322

 
400

 
2,074

 
212

 

 
400

 
2,286

 
2,686

 
317

 
1968
 
Jun. 2011
 
30 yrs.
Rockford, IL
 
1,363

 
548

 
1,881

 
5

 

 
548

 
1,886

 
2,434

 
345

 
1979
 
Jun. 2011
 
25 yrs.
Rockford, IL
 
250

 
114

 
633

 
9

 

 
114

 
642

 
756

 
116

 
1979
 
Jun. 2011
 
25 yrs.
Rockford, IL
 
1,319

 
380

 
2,321

 
19

 

 
380

 
2,340

 
2,720

 
422

 
1957
 
Jun. 2011
 
25 yrs.
Kihei, HI
 
5,372

 
2,523

 
7,481

 
631

 

 
2,523

 
8,112

 
10,635

 
889

 
1991
 
Aug. 2011
 
40 yrs.
Bakersfield, CA
 
1,875

 
1,060

 
3,138

 
73

 
(464
)
 
1,060

 
2,747

 
3,807

 
478

 
1979
 
Aug. 2011
 
25 yrs.
Bakersfield, CA
 
1,999

 
767

 
2,230

 
83

 

 
767

 
2,313

 
3,080

 
408

 
1979
 
Aug. 2011
 
25 yrs.
National City, CA
 
2,517

 
3,158

 
1,483

 
86

 

 
3,158

 
1,569

 
4,727

 
247

 
1987
 
Aug. 2011
 
28 yrs.
Mundelein, IL
 
3,553

 
1,080

 
5,287

 
217

 

 
1,080

 
5,504

 
6,584

 
959

 
1991
 
Aug. 2011
 
25 yrs.
Pearl City, HI
 
3,450

 

 
5,141

 
502

 

 

 
5,643

 
5,643

 
1,188

 
1977
 
Aug. 2011
 
20 yrs.
Palm Springs, CA
 
2,000

 
1,019

 
2,131

 
257

 

 
1,019

 
2,388

 
3,407

 
364

 
1987
 
Sep. 2011
 
28 yrs.
Loves Park, IL
 
1,214

 
394

 
3,390

 
38

 
(139
)
 
394

 
3,289

 
3,683

 
712

 
1997
 
Sep. 2011
 
20 yrs.
Mundelein, IL
 
747

 
535

 
1,757

 
44

 

 
535

 
1,801

 
2,336

 
393

 
1989
 
Sep. 2011
 
20 yrs.
 
SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)
December 31, 2015
(in thousands) 
 
 
 
 
Initial Cost to Company
 
Costs 
Capitalized
Subsequent to
Acquisition 
(a)
 
Increase 
(Decrease)
in Net
Investments
 (b)
 
Gross Amount at which Carried 
 at Close of Period (c)
 
 Accumulated
Depreciation 
(c)
 
Date of Construction
 
 Date
Acquired
 
Life on which
Depreciation
in Latest
Statement of
Income is
Computed
Description
 
Encumbrances
 
Land
 
Buildings
 
 
 
Land
 
Buildings
 
Total
 
 
 
 
Chicago, IL
 
3,158

 
1,049

 
5,672

 
183

 
(3
)
 
1,049

 
5,852

 
6,901

 
825

 
1988
 
Sep. 2011
 
30 yrs.
Bakersfield, CA
 
2,500

 
1,068

 
2,115

 
93

 
464

 
1,068

 
2,672

 
3,740

 
392

 
1971
 
Nov. 2011
 
40 yrs.
Beaumont, CA
 
2,610

 
1,616

 
2,873

 
82

 

 
1,616

 
2,955

 
4,571

 
388

 
1992
 
Nov. 2011
 
40 yrs.
Victorville, CA
 
1,200

 
299

 
1,766

 
36

 

 
299

 
1,802

 
2,101

 
250

 
1990
 
Nov. 2011
 
40 yrs.
Victorville, CA
 
1,021

 
190

 
1,756

 
82

 

 
190

 
1,838

 
2,028

 
241

 
1990
 
Nov. 2011
 
40 yrs.
San Bernardino, CA
 
1,000

 
698

 
1,397

 
90

 

 
698

 
1,487

 
2,185

 
182

 
1989
 
Nov. 2011
 
40 yrs.
Peoria, IL
 
2,230

 
549

 
2,424

 
32

 

 
549

 
2,456

 
3,005

 
421

 
1990
 
Nov. 2011
 
35 yrs.
East Peoria, IL
 
1,775

 
409

 
1,816

 
45

 

 
409

 
1,861

 
2,270

 
297

 
1986
 
Nov. 2011
 
35 yrs.
Loves Park, IL
 
1,000

 
439

 
998

 
159

 
139

 
439

 
1,296

 
1,735

 
197

 
1978
 
Nov. 2011
 
35 yrs.
Hesperia, CA
 
888

 
648

 
1,377

 
79

 

 
648

 
1,456

 
2,104

 
199

 
1989
 
Dec. 2011
 
40 yrs.
Mobile, AL
 
1,966

 
1,078

 
3,799

 
13

 

 
1,078

 
3,812

 
4,890

 
1,371

 
1974
 
Jun. 2012
 
12 yrs.
Slidell, LA
 
2,389

 
620

 
3,434

 
32

 

 
620

 
3,466

 
4,086

 
571

 
1998
 
Jun. 2012
 
32 yrs.
Baton Rouge, LA
 
796

 
401

 
955

 
15

 

 
401

 
970

 
1,371

 
265

 
1980
 
Jun. 2012
 
18 yrs.
Baton Rouge, LA
 
2,115

 
820

 
3,222

 
94

 

 
820

 
3,316

 
4,136

 
681

 
1980
 
Jun. 2012
 
25 yrs.
Gulfport, MS
 
1,194

 
591

 
2,539

 
77

 

 
591

 
2,616

 
3,207

 
827

 
1977
 
Jun. 2012
 
15 yrs.
Cherry Valley, IL
 
1,775

 
1,076

 
1,763

 
13

 

 
1,076

 
1,776

 
2,852

 
421

 
1988
 
Jul. 2012
 
20 yrs.
Fayetteville, NC
 
3,120

 
1,677

 
3,116

 
30

 

 
1,677

 
3,146

 
4,823

 
452

 
2001
 
Sep. 2012
 
34 yrs.
Tampa, FL
 
3,800

 
599

 
6,273

 
66

 

 
599

 
6,339

 
6,938

 
503

 
1999
 
Nov. 2012
 
40 yrs.
St. Petersburg, FL
 
4,100

 
2,253

 
3,512

 
303

 
(1
)
 
2,253

 
3,814

 
6,067

 
309

 
1990
 
Nov. 2012
 
40 yrs.
Palm Harbor, FL
 
7,100

 
2,192

 
7,237

 
141

 

 
2,192

 
7,378

 
9,570

 
631

 
2001
 
Nov. 2012
 
40 yrs.
Midland, TX
 
4,300

 
1,026

 
5,546

 
2

 

 
1,026

 
5,548

 
6,574

 
583

 
2008
 
Dec. 2012
 
20 yrs.
Midland, TX
 
5,830

 
2,136

 
6,665

 
6

 

 
2,136

 
6,671

 
8,807

 
675

 
2006
 
Dec. 2012
 
20 yrs.
Odessa, TX
 
3,970

 
975

 
4,924

 
7

 

 
975

 
4,931

 
5,906

 
516

 
2006
 
Dec. 2012
 
20 yrs.
Odessa, TX
 
5,400

 
1,099

 
6,510

 
5

 

 
1,099

 
6,515

 
7,614

 
692

 
2004
 
Dec. 2012
 
20 yrs.
Cathedral City, CA
 
1,399

 

 
2,275

 
2

 

 

 
2,277

 
2,277

 
242

 
1990
 
Mar. 2013
 
34 yrs.
Hilo, HI
 
3,965

 
296

 
4,996

 

 

 
296

 
4,996

 
5,292

 
324

 
2007
 
Jun. 2013
 
40 yrs.
Clearwater, FL
 
2,880

 
924

 
2,966

 
32

 

 
924

 
2,998

 
3,922

 
242

 
2001
 
Jul. 2013
 
32 yrs.
SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)
December 31, 2015
(in thousands) 
 
 
 
 
Initial Cost to Company
 
Costs 
Capitalized
Subsequent to
Acquisition 
(a)
 
Increase 
(Decrease)
in Net
Investments
 (b)
 
Gross Amount at which Carried 
at Close of Period 
(c)
 
 Accumulated
Depreciation 
(c)
 
Date of Construction
 
 Date
Acquired
 
Life on which
Depreciation
in Latest
Statement of
Income is
Computed
Description
 
Encumbrances
 
Land
 
Buildings
 
 
 
Land
 
Buildings
 
Total
 
 
 
 
Winder, GA
 
415

 
546

 
30

 
7

 

 
546

 
37

 
583

 
5

 
2006
 
Jul. 2013
 
31 yrs.
Winder, GA
 
1,427

 
495

 
1,253

 
48

 

 
495

 
1,301

 
1,796

 
170

 
2001
 
Jul. 2013
 
25 yrs.
Orlando, FL
 
4,160

 
1,064

 
4,889

 
46

 

 
1,064

 
4,935

 
5,999

 
365

 
2000
 
Aug. 2013
 
35 yrs.
Palm Coast, FL
 
3,420

 
1,749

 
3,285

 
30

 

 
1,749

 
3,315

 
5,064

 
320

 
2001
 
Sep. 2013
 
29 yrs.
Holiday, FL
 
2,250

 
1,829

 
1,097

 
474

 

 
1,829

 
1,571

 
3,400

 
124

 
1975
 
Nov. 2013
 
23 yrs.
 
 
$
152,589

 
$
66,066

 
$
202,281

 
$
7,178

 
$
(4
)
 
$
66,066

 
$
209,455

 
$
275,521

 
$
30,308

 
 
 
 
 
 
___________
(a)
Consists of the cost of improvements subsequent to acquisition and acquisition costs, including construction costs on build-to-suit transactions, legal fees, appraisal fees, title costs, and other related professional fees. For business combinations, transaction costs are excluded.
(b)
The increase (decrease) in net investment was primarily due to (i) the amortization of unearned income from net investment in direct financing leases, which produces a periodic rate of return that at times may be greater or less than lease payments received, (ii) sales of properties, (iii) impairment charges, and (iv) changes in foreign currency exchange rates.
(c)
A reconciliation of real estate and accumulated depreciation follows:
NOTES TO SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION
(in thousands)
 
Reconciliation of Real Estate Subject to Operating Leases
 
Years Ended December 31,
 
2015
 
2014
 
2013
Beginning balance
$
2,396,715

 
$
2,402,315

 
$
2,107,549

Additions
222,739

 
65,115

 
226,123

Improvements
9,450

 
3,554

 
8,970

Dispositions

 
(32,739
)
 

Foreign currency translation adjustment
(99,252
)
 
(124,536
)
 
30,155

Reclassification from real estate under construction
129,225

 
83,006

 
29,518

Ending balance
$
2,658,877

 
$
2,396,715

 
$
2,402,315

 
Reconciliation of Accumulated Depreciation for
Real Estate Subject to Operating Leases
 
Years Ended December 31,
 
2015
 
2014
 
2013
Beginning balance
$
175,478

 
$
129,051

 
$
77,326

Depreciation expense
57,831

 
54,976

 
49,785

Foreign currency translation adjustment
(7,442
)
 
(8,549
)
 
1,940

Ending balance
$
225,867

 
$
175,478

 
$
129,051

 
Reconciliation of Operating Real Estate
 
Years Ended December 31,
 
2015
 
2014
 
2013
Beginning balance
$
272,859

 
$
283,370

 
$
254,805

Additions

 

 
27,697

Improvements
2,662

 
2,047

 
1,369

Reclassification from real estate under construction

 
14,929

 
12,557

Dispositions

 
(27,487
)
 
(13,058
)
Ending balance
$
275,521

 
$
272,859

 
$
283,370

 
Reconciliation of Accumulated
Depreciation for Operating Real Estate
 
Years Ended December 31,
 
2015
 
2014
 
2013
Beginning balance
$
22,217

 
$
15,354

 
$
7,757

Depreciation expense
8,091

 
8,664

 
8,470

Dispositions

 
(1,801
)
 
(873
)
Ending balance
$
30,308

 
$
22,217

 
$
15,354


At December 31, 2015, the aggregate cost of real estate that we and our consolidated subsidiaries own for federal income tax purposes was approximately $3.9 billion.