SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2018

(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	$	447	$	2,227	$	6,794	$	12,501	$	19,295	$	3,571	12/22/2009
Santa Ana Downtown Plaza, CA	—		7,895		9,890		—		3,856		7,895		13,746		21,641		3,281		1/26/2010
Meridian Valley Plaza, WA	—		1,881		4,795		—		1,724		1,881		6,519		8,400		1,696		2/1/2010
The Market at Lake Stevens, WA	—		3,087		12,397		—		408		3,087		12,805		15,892		3,394		3/16/2010
Norwood Shopping Center, CA	—		3,031		11,534		122		1,253		3,153		12,787		15,940		3,419		4/5/2010
Pleasant Hill Marketplace, CA	—		6,359		6,927		—		1,590		6,359		8,517		14,876		2,396		4/8/2010
Vancouver Market Center, WA	—		4,080		6,912		—		3,981		4,080		10,893		14,973		2,356		6/17/2010
Happy Valley Town Center, OR	—		11,678		27,011		—		2,564		11,678		29,575		41,253		7,539		7/14/2010
Cascade Summit Town Square, OR	—		8,853		7,732		—		421		8,853		8,153		17,006		2,595		8/20/2010
Heritage Market Center, WA	—		6,595		17,399		—		771		6,595		18,170		24,765		4,442		9/23/2010
Claremont Promenade, CA	—		5,975		1,019		183		4,402		6,158		5,421		11,579		2,383		9/23/2010
Sycamore Creek, CA	—		3,747		11,584		—		582		3,747		12,166		15,913		3,572		9/30/2010
Gateway Village, CA	—		5,917		27,298		—		989		5,917		28,287		34,204		6,624		12/16/2010
Division Crossing, OR	—		3,706		8,327		—		5,700		3,706		14,027		17,733		3,980		12/22/2010
Halsey Crossing, OR ⁽²⁾	—		—		7,773		—		7,690		—		15,463		15,463		2,914		12/22/2010
Marketplace Del Rio,CA	—		13,420		22,251		9		2,462		13,429		24,713		38,142		6,357		1/3/2011
Pinole Vista Shopping Center, CA	—		12,894		35,689		—		4,247		12,894		39,936		52,830		6,424		1/6/2011 / 8/27/2018
Desert Springs Marketplace, CA	—		8,517		18,761		443		6,568		8,960		25,329		34,289		5,693		2/17/2011
Mills Shopping Center, CA	—		4,084		16,833		—		11,693		4,084		28,526		32,610		8,137		2/17/2011
Morada Ranch, CA	—		2,504		19,547		—		791		2,504		20,338		22,842		4,717		5/20/2011
Renaissance Towne Centre, CA	—		8,640		13,848		—		1,667		8,640		15,515		24,155		2,987		8/3/2011
Country Club Gate Center, CA	—		6,487		17,341		—		1,208		6,487		18,549		25,036		4,403		7/8/2011
Canyon Park Shopping Center, WA	—		9,352		15,916		—		8,757		9,352		24,673		34,025		5,284		7/29/2011
Hawks Prairie Shopping Center, WA	—		5,334		20,694		—		2,224		5,334		22,918		28,252		4,657		9/8/2011
The Kress Building, WA	—		5,693		20,866		—		4,825		5,693		25,691		31,384		6,179		9/30/2011
Hillsboro Market Center, OR ⁽²⁾	—		—		17,553		—		3,493		—		21,046		21,046		4,295		11/23/2011
Gateway Shopping Center, WA ⁽²⁾	—		6,242		23,462		—		8		6,242		23,470		29,712		4,582		2/16/2012
Euclid Plaza, CA	—		7,407		7,753		—		2,905		7,407		10,658		18,065		2,954		3/28/2012
Green Valley Station, CA	—		1,685		8,999		—		591		1,685		9,590		11,275		2,292		4/2/2012
Aurora Square, WA	—		10,325		13,336		—		1,906		10,325		15,242		25,567		2,220		5/3/2012 / 5/22/2014
Marlin Cove Shopping Center, CA	—		8,815		6,797		—		2,084		8,815		8,881		17,696		2,212		5/4/2012



Seabridge Marketplace, CA	—	5,098	17,164	—	3,482	5,098	20,646	25,744	3,798	5/31/2012
The Village at Novato, CA	—	5,329	4,412	—	1,550	5,329	5,962	11,291	1,044	7/24/2012
Glendora Shopping Center, CA	—	5,847	8,758	—	211	5,847	8,969	14,816	2,062	8/1/2012
Wilsonville Old Town Square, OR	—	4,181	15,394	—	509	4,181	15,903	20,084	3,122	8/1/2012
Bay Plaza, CA	—	5,454	14,857	—	1,096	5,454	15,953	21,407	3,161	10/5/2012
Santa Teresa Village, CA	—	14,965	17,162	—	5,539	14,965	22,701	37,666	4,819	11/8/2012
Cypress Center West, CA	—	15,480	11,819	121	2,065	15,601	13,884	29,485	3,129	12/7/2012
Redondo Beach Plaza, CA	—	16,242	13,625	55	217	16,297	13,842	30,139	2,659	12/28/2012
Harbor Place Center, CA	—	16,506	10,527	—	289	16,506	10,816	27,322	1,932	12/28/2012
Diamond Bar Town Center, CA	—	9,540	16,795	—	3,542	9,540	20,337	29,877	4,662	2/1/2013
Bernardo Heights Plaza, CA	—	3,192	8,940	—	727	3,192	9,667	12,859	1,869	2/6/2013
Canyon Crossing, WA	—	7,941	24,659	—	2,946	7,941	27,605	35,546	5,808	4/15/2013
Diamond Hills Plaza, CA	35,500	15,458	29,353	—	357	15,458	29,710	45,168	5,310	4/22/2013
Granada Shopping Center, CA	—	3,673	13,459	—	491	3,673	13,950	17,623	2,536	6/27/2013
Hawthorne Crossings, CA	—	10,383	29,277	—	127	10,383	29,404	39,787	4,805	6/27/2013
Robinwood Shopping Center, OR	—	3,997	11,317	18	1,064	4,015	12,381	16,396	2,278	8/23/2013
5 Points Plaza, CA	—	17,920	36,965	—	4,082	17,920	41,047	58,967	6,358	9/27/2013
Crossroads Shopping Center, WA	—	68,366	67,756	—	17,984	68,366	85,740	154,106	14,039	9/27/2013
Peninsula Marketplace, CA	—	14,730	19,214	—	1,958	14,730	21,172	35,902	3,572	11/1/2013
Country Club Village, CA	—	9,986	26,579	—	2,017	9,986	28,596	38,582	5,188	11/26/2013
Plaza de la Canada, CA ⁽²⁾	—	10,351	24,819	—	519	10,351	25,338	35,689	3,777	12/13/2013
Tigard Marketplace, OR	—	13,587	9,603	—	565	13,587	10,168	23,755	2,128	2/18/2014
Creekside Plaza, CA	—	14,807	29,476	—	1,351	14,807	30,827	45,634	4,980	2/28/2014
North Park Plaza, CA	—	13,593	17,733	—	832	13,593	18,565	32,158	2,473	4/30/2014
Fallbrook Shopping Center, CA ⁽²⁾	—	21,232	186,197	83	9,286	21,315	195,483	216,798	26,910	6/13/2014
Moorpark Town Center, CA	—	7,063	19,694	—	1,562	7,063	21,256	28,319	3,569	12/4/2014
Mission Foothill Marketplace, CA	—	11,415	17,783	—	107	11,415	17,890	29,305	1,334	12/4/2014
Wilsonville Town Center, OR	—	10,334	27,101	—	622	10,334	27,723	38,057	3,666	12/11/2014
Park Oaks Shopping Center, CA	—	8,527	38,064	—	629	8,527	38,693	47,220	4,803	1/6/2016
Ontario Plaza, CA	—	9,825	26,635	—	1,499	9,825	28,134	37,959	3,707	1/6/2015
Winston Manor, CA	—	10,018	9,762	—	1,854	10,018	11,616	21,634	1,626	1/7/2015
Jackson Square, CA	—	6,886	24,558	—	921	6,886	25,479	32,365	2,796	7/1/2015
Tigard Promenade, OR	—	9,844	10,843	—	101	9,844	10,944	20,788	1,173	7/28/2015
Sunnyside Village Square, OR	—	4,428	13,324	—	3,412	4,428	16,736	21,164	1,996	7/28/2015
Gateway Centre, CA	—	16,275	28,308	—	3,720	16,275	32,028	48,303	3,169	9/1/2015
Johnson Creek Center, OR	—	9,009	22,534	—	1,243	9,009	23,777	32,786	2,510	11/9/2015
Iron Horse Plaza, CA	—	8,187	39,654	—	1,571	8,187	41,225	49,412	3,400	12/4/2015
Bellevue Marketplace, WA	—	10,488	39,119	—	8,385	10,488	47,504	57,992	3,972	12/10/2015
Four Corner Square, WA	—	9,926	31,415	—	350	9,926	31,765	41,691	3,123	12/21/2015
Warner Plaza, CA	—	16,104	60,188	—	8,834	16,104	69,022	85,126	6,067	12/31/2015



Magnolia Shopping Center, CA	—		12,501		27,040		—		1,866			12,501		28,906		41,407		2,545		3/10/2016
Casitas Plaza Shopping Center, CA	7,158		10,734		22,040		—		961			10,734		23,001		33,735		1,825		3/10/2016
Bouquet Center, CA	—		10,040		48,362		—		479			10,040		48,841		58,881		3,891		4/28/2016
North Ranch Shopping Center, CA	—		31,522		95,916		—		1,061			31,522		96,977		128,499		6,884		6/1/2016
Monterey Center, CA ⁽²⁾	—		1,073		10,609		—		(36		)	1,073		10,573		11,646		753		7/14/2016
Rose City Center, OR ⁽²⁾	—		3,637		10,301		—		(78		)	3,637		10,223		13,860		690		9/15/2016
The Knolls, CA	—		9,726		18,299		—		20			9,726		18,319		28,045		1,265		10/3/2016
Bridle Trails Shopping Center, WA	—		11,534		20,700		—		3,633			11,534		24,333		35,867		1,551		10/17/2016
Torrey Hills Corporate Center, CA	—		5,579		3,915		—		2,435			5,579		6,350		11,929		662		12/6/2016
PCC Community Markets Plaza, WA	—		1,856		6,914		—		7			1,856		6,921		8,777		432		1/25/2017
The Terraces, CA	—		18,378		37,103		—		505			18,378		37,608		55,986		2,046		3/17/2017
Santa Rosa Southside Shopping Center, CA	—		5,595		24,453		—		1,477			5,595		25,930		31,525		1,308		3/24/2017
Division Center, OR	—		6,917		26,098		—		1,421			6,917		27,519		34,436		1,433		4/5/2017
Highland Hill Shopping Center, WA	—		10,511		37,825		23		397			10,534		38,222		48,756		2,018		5/9/2017
Monta Loma Plaza, CA	—		18,226		11,113		—		57			18,226		11,170		29,396		426		9/19/2017
Fullerton Crossroads, CA	26,000		28,512		45,419		—		234			28,512		45,653		74,165		1,776		10/11/2017
Riverstone Marketplace, WA	18,050		5,113		27,594		—		117			5,113		27,711		32,824		1,046		10/11/2017
North Lynnwood Shopping Center, WA	—		4,955		10,335		—		117			4,955		10,452		15,407		401		10/19/2017
The Village at Nellie Gail Ranch, CA	—		22,730		22,578		—		953			22,730		23,531		46,261		764		11/30/2017
Stadium Center, WA	—		1,699		17,229		—		79			1,699		17,308		19,007		391		2/23/2018
King City Plaza, OR	—		5,161		10,072		—		49			5,161		10,121		15,282		215		5/18/2018
	$	86,708	$	892,736	$	2,059,275	$	1,504	$	206,957		$	894,240	$	2,266,232	$	3,160,472	$	329,207


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



	Year Ended December 31,
	2018			2017			2016
Balance at beginning of period:	$	3,109,397		$	2,687,018		$	2,296,617
Property improvements during the year	40,300			54,481			41,359
Properties acquired during the year	43,387			374,004			354,035
Properties sold during the year	(24,427		)	—			—
Assets written off during the year	(8,185		)	(6,106		)	(4,993		)
Balance at end of period:	$	3,160,472		$	3,109,397		$	2,687,018


(b)	RECONCILIATION OF ACCUMULATED DEPRECIATION (in thousands)



	Year Ended December 31,
	2018			2017			2016
Balance at beginning of period:	$	260,115		$	193,021		$	134,311
Depreciation expenses	81,107			72,725			63,872
Properties sold during the year	(3,551		)	—			—
Property assets fully depreciated and written off	(8,464		)	(5,631		)	(5,162		)
Balance at end of period:	$	329,207		$	260,115		$	193,021


(1)	Depreciation and investments in building and improvements reflected in the consolidated statement 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, 2018.