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]

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2019

(in thousands)


			Initial Cost to Company						Cost Capitalized Subsequent to Acquisition						Amount at Which Carried at Close of Period
Description and Location	Encumbrances		Land		Building & Improvements		Land		Building & Improvements		Land		Building & Improvements		Total (a)		Accumulated Depreciation (b) ⁽¹⁾		Date of Acquisition

Paramount Plaza, CA	$	—	$	6,347	$	10,274	$	530	$	2,127	$	6,877	$	12,401	$	19,278	$	3,997	12/22/2009
Santa Ana Downtown Plaza, CA	—		7,895		9,890		—		4,029		7,895		13,919		21,814		3,812		1/26/2010
Meridian Valley Plaza, WA	—		1,881		4,795		—		1,757		1,881		6,552		8,433		2,085		2/1/2010
The Market at Lake Stevens, WA	—		3,087		12,397		—		392		3,087		12,789		15,876		3,782		3/16/2010
Pleasant Hill Marketplace, CA	—		6,359		6,927		—		1,590		6,359		8,517		14,876		2,765		4/8/2010
Happy Valley Town Center, OR	—		11,678		27,011		—		2,906		11,678		29,917		41,595		8,317		7/14/2010
Cascade Summit Town Square, OR	—		8,853		7,732		—		482		8,853		8,214		17,067		2,952		8/20/2010
Heritage Market Center, WA	—		6,595		17,399		—		756		6,595		18,155		24,750		4,751		9/23/2010
Claremont Promenade, CA	—		5,975		1,019		183		4,388		6,158		5,407		11,565		2,763		9/23/2010
Sycamore Creek, CA	—		3,747		11,584		—		520		3,747		12,104		15,851		3,949		9/30/2010
Gateway Village, CA	—		5,917		27,298		—		1,247		5,917		28,545		34,462		7,450		12/16/2010
Division Crossing, OR	—		3,706		8,327		—		5,586		3,706		13,913		17,619		4,482		12/22/2010
Halsey Crossing, OR ⁽²⁾	—		—		7,773		—		7,793		—		15,566		15,566		3,701		12/22/2010
Marketplace Del Rio,CA	—		13,420		22,251		9		2,905		13,429		25,156		38,585		7,084		1/3/2011
Pinole Vista Shopping Center, CA	—		12,894		35,689		—		5,941		12,894		41,630		54,524		7,407		1/6/2011 / 8/27/2018
Desert Springs Marketplace, CA	—		8,517		18,761		443		6,127		8,960		24,888		33,848		6,022		2/17/2011
Mills Shopping Center, CA	—		4,084		16,833		—		11,004		4,084		27,837		31,921		8,990		2/17/2011
Renaissance Towne Centre, CA	—		8,640		13,848		—		2,346		8,640		16,194		24,834		3,587		8/3/2011
Country Club Gate Center, CA	—		6,487		17,341		—		777		6,487		18,118		24,605		4,593		7/8/2011
Canyon Park Shopping Center, WA	—		9,352		15,916		—		9,013		9,352		24,929		34,281		6,443		7/29/2011
Hawks Prairie Shopping Center, WA	—		5,334		20,694		—		2,225		5,334		22,919		28,253		5,505		9/8/2011
The Kress Building, WA	—		5,693		20,866		—		4,839		5,693		25,705		31,398		7,043		9/30/2011
Hillsboro Market Center, OR ⁽²⁾	—		—		17,553		—		4,713		—		22,266		22,266		5,240		11/23/2011
Gateway Shopping Center, WA ⁽²⁾	—		6,242		23,462		—		397		6,242		23,859		30,101		5,318		2/16/2012
Euclid Plaza, CA	—		7,407		7,753		—		3,117		7,407		10,870		18,277		3,470		3/28/2012
Green Valley Station, CA	—		1,685		8,999		—		785		1,685		9,784		11,469		2,676		4/2/2012
Aurora Square, WA	—		10,325		13,336		—		2,662		10,325		15,998		26,323		2,888		5/3/2012 / 5/22/2014
Marlin Cove Shopping Center, CA	—		8,815		6,797		—		2,151		8,815		8,948		17,763		2,599		5/4/2012
Seabridge Marketplace, CA	—		5,098		17,164		—		3,584		5,098		20,748		25,846		4,485		5/31/2012
The Village at Novato, CA	—		5,329		4,412		—		1,833		5,329		6,245		11,574		1,246		7/24/2012
Glendora Shopping Center, CA	—		5,847		8,758		—		298		5,847		9,056		14,903		2,375		8/1/2012
Wilsonville Old Town Square, OR	—		4,181		15,394		—		1,396		4,181		16,790		20,971		3,440		8/1/2012


		Initial Cost to Company			Cost Capitalized Subsequent to Acquisition			Amount at Which Carried at Close of Period
Description and Location	Encumbrances	Land	Building & Improvements	Land	Building & Improvements	Land	Building & Improvements	Total (a)	Accumulated Depreciation (b) ⁽¹⁾	Date of Acquisition

Bay Plaza, CA	—	5,454	14,857	—	1,084	5,454	15,941	21,395	3,577	10/5/2012
Santa Teresa Village, CA	—	14,965	17,162	—	6,500	14,965	23,662	38,627	5,597	11/8/2012
Cypress Center West, CA	—	15,480	11,819	124	2,051	15,604	13,870	29,474	3,618	12/7/2012
Redondo Beach Plaza, CA	—	16,242	13,625	72	297	16,314	13,922	30,236	3,141	12/28/2012
Harbor Place Center, CA	—	16,506	10,527	—	533	16,506	11,060	27,566	2,240	12/28/2012
Diamond Bar Town Center, CA	—	9,540	16,795	—	3,775	9,540	20,570	30,110	5,585	2/1/2013
Bernardo Heights Plaza, CA	—	3,192	8,940	—	728	3,192	9,668	12,860	2,219	2/6/2013
Canyon Crossing, WA	—	7,941	24,659	—	2,959	7,941	27,618	35,559	6,814	4/15/2013
Diamond Hills Plaza, CA	35,500	15,458	29,353	—	872	15,458	30,225	45,683	5,818	4/22/2013
Granada Shopping Center, CA	—	3,673	13,459	—	842	3,673	14,301	17,974	3,005	6/27/2013
Hawthorne Crossings, CA	—	10,383	29,277	—	221	10,383	29,498	39,881	5,703	6/27/2013
Robinwood Shopping Center, OR	—	3,997	11,317	18	1,141	4,015	12,458	16,473	2,721	8/23/2013
5 Points Plaza, CA	—	17,920	36,965	—	4,242	17,920	41,207	59,127	7,778	9/27/2013
Crossroads Shopping Center, WA	—	68,366	67,756	—	19,067	68,366	86,823	155,189	17,347	9/27/2013
Peninsula Marketplace, CA	—	14,730	19,214	—	1,979	14,730	21,193	35,923	4,162	11/1/2013
Country Club Village, CA	—	9,986	26,579	—	1,797	9,986	28,376	38,362	5,845	11/26/2013
Plaza de la Canada, CA ⁽²⁾	—	10,351	24,819	—	1,233	10,351	26,052	36,403	4,567	12/13/2013
Tigard Marketplace, OR	—	13,587	9,603	—	692	13,587	10,295	23,882	2,533	2/18/2014
Creekside Plaza, CA	—	14,807	29,476	—	2,495	14,807	31,971	46,778	5,737	2/28/2014
North Park Plaza, CA	—	13,593	17,733	—	1,737	13,593	19,470	33,063	3,042	4/30/2014
Fallbrook Shopping Center, CA ⁽²⁾	—	21,232	186,197	83	9,379	21,315	195,576	216,891	32,933	6/13/2014
Moorpark Town Center, CA	—	7,063	19,694	—	1,631	7,063	21,325	28,388	4,498	12/4/2014
Mission Foothill Marketplace Pads, CA	—	3,996	11,051	—	297	3,996	11,348	15,344	1,439	12/4/2014
Wilsonville Town Center, OR	—	10,334	27,101	—	602	10,334	27,703	38,037	4,553	12/11/2014
Park Oaks Shopping Center, CA	—	8,527	38,064	—	569	8,527	38,633	47,160	5,934	1/6/2016
Ontario Plaza, CA	—	9,825	26,635	—	1,470	9,825	28,105	37,930	4,644	1/6/2015
Winston Manor, CA	—	10,018	9,762	—	2,132	10,018	11,894	21,912	2,053	1/7/2015
Jackson Square, CA	—	6,886	24,558	—	1,111	6,886	25,669	32,555	3,632	7/1/2015
Tigard Promenade, OR	—	9,844	10,843	—	245	9,844	11,088	20,932	1,517	7/28/2015
Sunnyside Village Square, OR	—	4,428	13,324	—	3,856	4,428	17,180	21,608	2,875	7/28/2015
Gateway Centre, CA	—	16,275	28,308	—	4,178	16,275	32,486	48,761	4,231	9/1/2015
Johnson Creek Center, OR	—	9,009	22,534	—	1,391	9,009	23,925	32,934	3,308	11/9/2015
Iron Horse Plaza, CA	—	8,187	39,654	11	2,519	8,198	42,173	50,371	4,732	12/4/2015
Bellevue Marketplace, WA	—	10,488	39,119	—	10,162	10,488	49,281	59,769	5,515	12/10/2015
Four Corner Square, WA	—	9,926	31,415	—	491	9,926	31,906	41,832	4,106	12/21/2015
Warner Plaza, CA	—	16,104	60,188	—	9,266	16,104	69,454	85,558	8,460	12/31/2015
Magnolia Shopping Center, CA	—	12,501	27,040	—	2,046	12,501	29,086	41,587	3,621	3/10/2016


			Initial Cost to Company						Cost Capitalized Subsequent to Acquisition						Amount at Which Carried at Close of Period
Description and Location	Encumbrances		Land		Building & Improvements		Land		Building & Improvements		Land		Building & Improvements		Total (a)		Accumulated Depreciation (b) ⁽¹⁾		Date of Acquisition

Casitas Plaza Shopping Center, CA	7,001		10,734		22,040		—		1,431		10,734		23,471		34,205		2,626		3/10/2016
Bouquet Center, CA	—		10,040		48,362		—		606		10,040		48,968		59,008		5,373		4/28/2016
North Ranch Shopping Center, CA	—		31,522		95,916		—		1,826		31,522		97,742		129,264		9,622		6/1/2016
Monterey Center, CA ⁽²⁾	—		1,073		10,609		—		237		1,073		10,846		11,919		1,080		7/14/2016
Rose City Center, OR ⁽²⁾	—		3,637		10,301		—		(78)		3,637		10,223		13,860		987		9/15/2016
The Knolls, CA	—		9,726		18,299		—		21		9,726		18,320		28,046		1,827		10/3/2016
Bridle Trails Shopping Center, WA	—		11,534		20,700		—		7,906		11,534		28,606		40,140		2,586		10/17/2016
Torrey Hills Corporate Center, CA	—		5,579		3,915		—		2,435		5,579		6,350		11,929		1,320		12/6/2016
PCC Community Markets Plaza, WA	—		1,856		6,914		—		7		1,856		6,921		8,777		657		1/25/2017
The Terraces, CA	—		18,378		37,103		—		1,423		18,378		38,526		56,904		3,291		3/17/2017
Santa Rosa Southside Shopping Center, CA	—		5,595		24,453		—		1,788		5,595		26,241		31,836		2,057		3/24/2017
Division Center, OR	—		6,917		26,098		—		2,086		6,917		28,184		35,101		2,353		4/5/2017
Highland Hill Shopping Center, WA	—		10,511		37,825		29		382		10,540		38,207		48,747		3,210		5/9/2017
Monta Loma Plaza, CA	—		18,226		11,113		—		140		18,226		11,253		29,479		784		9/19/2017
Fullerton Crossroads, CA	26,000		28,512		45,419		—		476		28,512		45,895		74,407		3,205		10/11/2017
Riverstone Marketplace, WA	17,656		5,113		27,594		—		277		5,113		27,871		32,984		1,876		10/11/2017
North Lynnwood Shopping Center, WA	—		4,955		10,335		9		710		4,964		11,045		16,009		766		10/19/2017
The Village at Nellie Gail Ranch, CA	—		22,730		22,578		—		1,387		22,730		23,965		46,695		1,528		11/30/2017
Stadium Center, WA	—		1,699		17,229		7		87		1,706		17,316		19,022		861		2/23/2018
King City Plaza, OR	—		5,161		10,072		—		43		5,161		10,115		15,276		570		5/18/2018
Summerwalk Village, WA	—		2,320		9,281		—		4		2,320		9,285		11,605		20		12/13/2019
	$	86,157	$	878,022	$	2,023,831	$	1,518	$	228,470	$	879,540	$	2,252,301	$	3,131,841	$	390,916

a.RECONCILIATION OF REAL ESTATE – OWNED SUBJECT TO OPERATING LEASES (in thousands)


	Year Ended December 31,
	2019		2018		2017
Balance at beginning of period:	$	3,160,472	$	3,109,397	$	2,687,018
Property improvements during the year	37,985		40,300		54,481
Properties acquired during the year	11,601		43,387		374,004
Properties sold during the year	(69,056)		(24,427)		—
Assets written off during the year	(9,161)		(8,185)		(6,106)
Balance at end of period:	$	3,131,841	$	3,160,472	$	3,109,397

b.RECONCILIATION OF ACCUMULATED DEPRECIATION (in thousands)


	Year Ended December 31,
	2019		2018		2017
Balance at beginning of period:	$	329,207	$	260,115	$	193,021
Depreciation expenses	82,419		81,107		72,725
Properties sold during the year	(10,775)		(3,551)		—
Property assets fully depreciated and written off	(9,935)		(8,464)		(5,631)
Balance at end of period:	$	390,916	$	329,207	$	260,115

(1)Depreciation and investments in building and improvements reflected in the consolidated statements of operations is calculated over the estimated useful life of the assets as follows:

Building: 39-40 years

Property Improvements: 10-20 years

(2)Property, or a portion thereof, is subject to a ground lease.

(3)The aggregate cost for Federal Income Tax Purposes for real estate was approximately $2.9 billion at December 31, 2019.