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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]  
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure
SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2021
(in thousands)
  Initial Cost to CompanyCost Capitalized Subsequent to AcquisitionAmount at Which Carried at Close of Period   
 Description and Location Encumbrances LandBuilding &
Improvements		 LandBuilding &
Improvements		 LandBuilding &
Improvements		 
Total (a)
Accumulated Depreciation (b) (1)
Date of Acquisition
Paramount Plaza, CA$— $6,347 $10,274 $798 $1,830 $7,145 $12,104 $19,249 $4,753 12/22/2009
Santa Ana Downtown Plaza, CA— 7,895 9,890 — 4,013 7,895 13,903 21,798 4,812 1/26/2010
Meridian Valley Plaza, WA— 1,881 4,795 — 1,930 1,881 6,725 8,606 2,813 2/1/2010
The Market at Lake Stevens, WA— 3,087 12,397 — 379 3,087 12,776 15,863 4,575 3/16/2010
Pleasant Hill Marketplace, CA— 6,359 6,927 — 857 6,359 7,784 14,143 2,733 4/8/2010
Happy Valley Town Center, OR— 11,678 27,011 — 4,808 11,678 31,819 43,497 10,615 7/14/2010
Cascade Summit Town Square, OR— 8,853 7,732 — 2,138 8,853 9,870 18,723 2,679 8/20/2010
Heritage Market Center, WA— 6,595 17,399 — 1,063 6,595 18,462 25,057 5,957 9/23/2010
Claremont Promenade, CA— 5,975 1,019 183 4,170 6,158 5,189 11,347 3,250 9/23/2010
Sycamore Creek, CA— 3,747 11,584 — 473 3,747 12,057 15,804 4,710 9/30/2010
Gateway Village, CA— 5,917 27,298 — 1,302 5,917 28,600 34,517 9,202 12/16/2010
Division Crossing, OR— 3,706 8,327 8 5,487 3,714 13,814 17,528 5,660 12/22/2010
Halsey Crossing, OR (2)
— — 7,773 — 7,436 — 15,209 15,209 4,826 12/22/2010
Marketplace Del Rio,CA— 13,420 22,251 9 5,216 13,429 27,467 40,896 8,917 1/3/2011
Pinole Vista Shopping Center, CA— 14,288 36,565 — 8,563 14,288 45,128 59,416 10,637 1/6/2011 / 8/27/2018 / 8/31/2021
Desert Springs Marketplace, CA— 8,517 18,761 443 5,960 8,960 24,721 33,681 7,642 2/17/2011
Renaissance Towne Centre, CA— 8,640 13,848 — 2,536 8,640 16,384 25,024 4,927 8/3/2011
Country Club Gate Center, CA— 6,487 17,341 — 539 6,487 17,880 24,367 5,319 7/8/2011
Canyon Park Shopping Center, WA— 9,352 15,916 — 8,255 9,352 24,171 33,523 7,991 7/29/2011
Hawks Prairie Shopping Center, WA— 5,334 20,694 — 2,110 5,334 22,804 28,138 7,051 9/8/2011
The Kress Building, WA— 5,693 20,866 — 5,122 5,693 25,988 31,681 8,885 9/30/2011
Hillsboro Market Center, OR (2)
— — 17,553 — 4,630 — 22,183 22,183 7,019 11/23/2011
Gateway Shopping Center, WA (2)
— 6,242 23,462 — 713 6,242 24,175 30,417 6,693 2/16/2012
Aurora Square, WA— 10,325 13,336 — 6,999 10,325 20,335 30,660 4,048 5/3/2012 / 5/22/2014
Marlin Cove Shopping Center, CA— 8,815 6,797 — 2,016 8,815 8,813 17,628 3,230 5/4/2012
Seabridge Marketplace, CA— 5,098 17,164 — 3,523 5,098 20,687 25,785 5,444 5/31/2012
The Village at Novato, CA— 5,329 4,412 — 2,678 5,329 7,090 12,419 1,437 7/24/2012
Glendora Shopping Center, CA— 5,847 8,758 — 273 5,847 9,031 14,878 2,896 8/1/2012
Wilsonville Old Town Square, OR— 4,181 15,394 — 2,165 4,181 17,559 21,740 4,631 8/1/2012
Bay Plaza, CA— 5,454 14,857 75 1,136 5,529 15,993 21,522 4,377 10/5/2012
Santa Teresa Village, CA— 14,965 17,162 — 12,345 14,965 29,507 44,472 7,149 11/8/2012
Cypress Center West, CA— 15,480 11,819 125 2,045 15,605 13,864 29,469 4,231 12/7/2012
  Initial Cost to CompanyCost Capitalized Subsequent to AcquisitionAmount at Which Carried at Close of Period   
 Description and Location Encumbrances LandBuilding &
Improvements		 LandBuilding &
Improvements		 LandBuilding &
Improvements		 
Total (a)
Accumulated Depreciation (b) (1)
Date of Acquisition
Redondo Beach Plaza, CA— 16,242 13,625 95 528 16,337 14,153 30,490 4,024 12/28/2012
Harbor Place Center, CA— 16,506 10,527 — 3,659 16,506 14,186 30,692 3,050 12/28/2012
Diamond Bar Town Center, CA— 9,540 16,795 — 3,578 9,540 20,373 29,913 6,977 2/1/2013
Bernardo Heights Plaza, CA— 3,192 8,940 — 782 3,192 9,722 12,914 2,919 2/6/2013
Canyon Crossing, WA— 7,941 24,659 — 2,512 7,941 27,171 35,112 8,394 4/15/2013
Diamond Hills Plaza, CA35,393 15,458 29,353 — 2,312 15,458 31,665 47,123 7,541 4/22/2013
Granada Shopping Center, CA— 3,673 13,459 — 3,593 3,673 17,052 20,725 3,066 6/27/2013
Hawthorne Crossings, CA— 10,383 29,277 — 231 10,383 29,508 39,891 7,237 6/27/2013
Robinwood Shopping Center, OR— 3,997 11,317 18 687 4,015 12,004 16,019 3,087 8/23/2013
5 Points Plaza, CA— 17,920 36,965 — 4,584 17,920 41,549 59,469 10,289 9/27/2013
Crossroads Shopping Center, WA— 68,366 67,756 — 29,568 68,366 97,324 165,690 24,139 9/27/2013
Peninsula Marketplace, CA— 14,730 19,214 — 1,265 14,730 20,479 35,209 4,798 11/1/2013
Country Club Village, CA— 9,986 26,579 — 824 9,986 27,403 37,389 6,578 11/26/2013
Plaza de la Canada, CA (2)
— 10,351 24,819 — 1,397 10,351 26,216 36,567 6,335 12/13/2013
Tigard Marketplace, OR— 13,587 9,603 — 751 13,587 10,354 23,941 3,332 2/18/2014
Creekside Plaza, CA— 14,807 29,476 — 6,721 14,807 36,197 51,004 7,983 2/28/2014
North Park Plaza, CA— 13,593 17,733 — 3,221 13,593 20,954 34,547 4,431 4/30/2014
Fallbrook Shopping Center, CA (2)
— 21,232 186,197 83 8,137 21,315 194,334 215,649 42,875 6/13/2014
Moorpark Town Center, CA— 7,063 19,694 — 94 7,063 19,788 26,851 4,328 12/4/2014
Mission Foothill Marketplace Pads, CA— 3,996 11,051 — 576 3,996 11,627 15,623 2,102 12/4/2014
Wilsonville Town Center, OR— 10,334 27,101 — 808 10,334 27,909 38,243 6,434 12/11/2014
Park Oaks Shopping Center, CA— 8,527 38,064 — 385 8,527 38,449 46,976 7,949 1/6/2015
Ontario Plaza, CA— 9,825 26,635 — 1,460 9,825 28,095 37,920 6,571 1/6/2015
Winston Manor, CA— 10,018 9,762 — 1,798 10,018 11,560 21,578 2,595 1/7/2015
Jackson Square, CA— 6,886 24,558 — 768 6,886 25,326 32,212 4,946 7/1/2015
Tigard Promenade, OR— 9,844 10,843 — 249 9,844 11,092 20,936 2,200 7/28/2015
Sunnyside Village Square, OR— 4,428 13,324 — 2,531 4,428 15,855 20,283 3,540 7/28/2015
Gateway Centre, CA— 16,275 28,308 — 4,077 16,275 32,385 48,660 6,148 9/1/2015
Johnson Creek Center, OR— 9,009 22,534 — 1,024 9,009 23,558 32,567 4,647 11/9/2015
Iron Horse Plaza, CA— 8,187 39,654 11 2,817 8,198 42,471 50,669 7,612 12/4/2015
Bellevue Marketplace, WA— 10,488 39,119 — 10,375 10,488 49,494 59,982 9,002 12/10/2015
Four Corner Square, WA— 9,926 31,415 35 537 9,961 31,952 41,913 6,197 12/21/2015
Warner Plaza, CA— 16,104 60,188 — 10,472 16,104 70,660 86,764 13,020 12/31/2015
Magnolia Shopping Center, CA— 12,501 27,040 38 2,043 12,539 29,083 41,622 5,569 3/10/2016
Casitas Plaza Shopping Center, CA6,660 10,734 22,040 — 1,751 10,734 23,791 34,525 4,175 3/10/2016
Bouquet Center, CA— 10,040 48,362 12 903 10,052 49,265 59,317 7,960 4/28/2016
North Ranch Shopping Center, CA— 31,522 95,916 — 2,279 31,522 98,195 129,717 15,171 6/1/2016
  Initial Cost to CompanyCost Capitalized Subsequent to AcquisitionAmount at Which Carried at Close of Period   
 Description and Location Encumbrances LandBuilding &
Improvements		 LandBuilding &
Improvements		 LandBuilding &
Improvements		 
Total (a)
Accumulated Depreciation (b) (1)
Date of Acquisition
Monterey Center, CA (2)
— 1,073 10,609 — 662 1,073 11,271 12,344 1,821 7/14/2016
Rose City Center, OR (2)
— 3,637 10,301 — (105)3,637 10,196 13,833 1,549 9/15/2016
The Knolls, CA— 9,726 18,299 — 84 9,726 18,383 28,109 2,954 10/3/2016
Bridle Trails Shopping Center, WA— 11,534 20,700 — 9,625 11,534 30,325 41,859 4,943 10/17/2016
Torrey Hills Corporate Center, CA— 5,579 3,915 — 2,584 5,579 6,499 12,078 2,593 12/6/2016
PCC Community Markets Plaza, WA— 1,856 6,914 — 7 1,856 6,921 8,777 1,108 1/25/2017
The Terraces, CA— 18,378 37,103 — 1,633 18,378 38,736 57,114 5,695 3/17/2017
Santa Rosa Southside Shopping Center, CA— 5,595 24,453 — 11,234 5,595 35,687 41,282 3,857 3/24/2017
Division Center, OR— 6,912 26,098 — 2,832 6,912 28,930 35,842 4,341 4/5/2017
Highland Hill Shopping Center, WA— 10,511 37,825 66 502 10,577 38,327 48,904 5,408 5/9/2017
Monta Loma Plaza, CA— 18,226 11,113 — 113 18,226 11,226 29,452 1,472 9/19/2017
Fullerton Crossroads, CA26,000 28,512 45,419 — 729 28,512 46,148 74,660 6,087 10/11/2017
Riverstone Marketplace, WA16,811 5,113 27,594 — 655 5,113 28,249 33,362 3,610 10/11/2017
North Lynnwood Shopping Center, WA— 4,955 10,335 21 5,128 4,976 15,463 20,439 1,684 10/19/2017
The Village at Nellie Gail Ranch, CA— 22,730 22,578 — 1,815 22,730 24,393 47,123 3,188 11/30/2017
Stadium Center, WA— 1,699 17,229 45 116 1,744 17,345 19,089 1,799 2/23/2018
King City Plaza, OR— 5,161 10,072 — 122 5,161 10,194 15,355 1,122 5/18/2018
Summerwalk Village, WA— 4,312 7,567 — 2,846 4,312 10,413 14,725 601 12/13/2019
Canyon Creek Plaza, CA— 13,066 13,455 — (9)13,066 13,446 26,512 200 9/1/2021
Palomar Village, CA— 9,642 26,925 — 35 9,642 26,960 36,602 255 10/12/2021
South Point Plaza, WA— 17,890 28,006 — 1 17,890 28,007 45,897 177 11/10/2021
Olympia West Center, WA— 4,971 19,884 — — 4,971 19,884 24,855 42 12/6/2021
 $84,864 $913,796 $2,077,678 $2,065 $272,616 $915,861 $2,350,294 $3,266,155 $510,836  

a.RECONCILIATION OF REAL ESTATE – OWNED SUBJECT TO OPERATING LEASES (in thousands)
 Year Ended December 31,
 202120202019
Balance at beginning of period:$3,156,552 $3,131,841 $3,160,472 
Property improvements during the year48,570 38,913 37,985 
Properties acquired during the year136,105 — 11,601 
Properties sold during the year(61,491)— (69,056)
Assets written off during the year(13,581)(14,202)(9,161)
Balance at end of period:$3,266,155 $3,156,552 $3,131,841 
 
b.RECONCILIATION OF ACCUMULATED DEPRECIATION (in thousands)
 Year Ended December 31,
 202120202019
Balance at beginning of period:$460,165 $390,916 $329,207 
Depreciation expenses82,957 83,774 82,419 
Properties sold during the year(18,476)— (10,775)
Property assets fully depreciated and written off(13,810)(14,525)(9,935)
Balance at end of period:$510,836 $460,165 $390,916 
 
(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 $3.0 billion at December 31, 2021.