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

			Initial Cost					Cost Capitalized Subsequent to Acquisition			Total Cost
Location	Franchise	Year Acquired/ Constructed	Land			Building & Improvements		Land, Building & Improvements			Land		Building & Improvements		Total		Accumulated Depreciation			Total Cost Net of Accumulated Depreciation		Mortgage Debt
Aliso Viejo, CA	Homewood Suites	2017	$	5,599		$	32,367	$	354		$	5,599	$	32,721	$	38,320	$	(4,030	)	$	34,290	$	—
Arlington, TX	Courtyard	2012	1,497			15,573		(565		)	1,497		15,008		16,505		(3,830		)	12,675		—
Arlington, TX	Residence Inn	2012	1,646			15,440		16			1,646		15,456		17,102		(4,071		)	13,031		—
Asheville, NC	Hotel Indigo	2015	2,100			34,755		1,051			2,100		35,806		37,906		(6,687		)	31,219		—
Atlanta, GA	Courtyard	2012	2,050			27,969		834			2,050		28,803		30,853		(5,702		)	25,151		—
Atlanta, GA	Residence Inn	2016	3,381			34,820		790			3,381		35,610		38,991		(4,801		)	34,190		—
Atlanta, GA	AC Hotel	2017	5,670			51,922		567			5,670		52,489		58,159		(5,378		)	52,781		—
Austin, TX	Hampton Inn & Suites	2014	—		(2)	56,394		4,846			—		61,240		61,240		(9,519		)	51,721		—
Austin, TX	Corporate Office	2017	—			6,048		1,410			—		7,458		7,458		(2,207		)	5,251		—
Baltimore, MD	Hampton Inn & Suites	2017	2,205			16,013		2,342			2,205		18,355		20,560		(1,373		)	19,187		—
Baltimore, MD	Residence Inn	2017	1,986			37,016		6,198			1,986		43,214		45,200		(4,372		)	40,828		—
Boulder, CO	Marriott	2016	11,115			49,204		8,946			11,115		58,150		69,265		(7,000		)	62,265		—
Branchburg, NJ	Residence Inn	2015	2,374			24,411		285			2,374		24,696		27,070		(4,754		)	22,316		—
Brisbane, CA	DoubleTree	2014	3,300			39,686		1,137			3,300		40,823		44,123		(11,496		)	32,627		—
Camarillo, CA	Hampton Inn & Suites	2013	2,200			17,366		384			2,200		17,750		19,950		(5,749		)	14,201		—
Charlotte, NC	Courtyard	2017	—			41,094		1,468			—		42,562		42,562		(4,581		)	37,981		—
Chicago, IL	Hyatt Place	2016	5,395			68,355		192			5,395		68,547		73,942		(9,533		)	64,409		—
Cleveland, OH	Residence Inn	2017	10,075			33,340		1,699			10,075		35,039		45,114		(3,925		)	41,189		—
Decatur, GA	Courtyard	2015	4,046			34,151		3,816			4,046		37,967		42,013		(5,818		)	36,195		—
Eden Prairie, MN	Hilton Garden Inn	2013	1,800			11,211		146			1,800		11,357		13,157		(3,981		)	9,176		—
Englewood, CO	Hyatt Place	2012	2,000			11,950		(441		)	2,000		11,509		13,509		(4,054		)	9,455		19,510		(1)
Englewood, CO	Hyatt House	2012	2,700			16,267		224			2,700		16,491		19,191		(6,553		)	12,638		19,992		(1)
Fort Lauderdale, FL	Courtyard	2017	37,950			47,002		1,421			37,950		48,423		86,373		(5,861		)	80,512		—
Fort Worth, TX	Courtyard	2017	1,920			38,070		9,029			1,920		47,099		49,019		(3,748		)	45,271		—
Garden City, NY	Hyatt Place	2012	4,200			27,775		272			4,283		27,964		32,247		(5,787		)	26,460		—
Glendale, CO	Staybridge Suites	2011	2,100			10,151		333			2,100		10,484		12,584		(3,679		)	8,905		—
Greenville, SC	Hilton Garden Inn	2013	1,200			14,566		3,009			1,200		17,575		18,775		(3,772		)	15,003		—
Hillsboro, OR	Residence Inn	2019	4,943			42,541		9			4,943		42,550		47,493		(461		)	47,032		—
Hoffman Estates, IL	Hyatt Place	2013	1,900			8,917		(1,861		)	1,900		7,056		8,956		(3,186		)	5,770		19,323		(1)

			Initial Cost					Cost Capitalized Subsequent to Acquisition			Total Cost
Location	Franchise	Year Acquired/ Constructed	Land			Building & Improvements		Land, Building & Improvements			Land		Building & Improvements		Total		Accumulated Depreciation			Total Cost Net of Accumulated Depreciation		Mortgage Debt
Houston, TX	Hilton Garden Inn	2014	$	—	(2)	$	41,838	$	5,951		$	—	$	47,789	$	47,789	$	(11,015	)	$	36,774	$	—
Houston, TX	Hilton Garden Inn	2014	2,800			33,777		1,373			2,800		35,150		37,950		(5,950		)	32,000		—
Hunt Valley, MD	Residence Inn	2015	—			35,436		1,326			1,076		35,686		36,762		(6,432		)	30,330		—
Indianapolis, IN	SpringHill Suites	2013	4,012			27,910		(646		)	4,012		27,264		31,276		(5,588		)	25,688		—
Indianapolis, IN	Courtyard	2013	7,788			54,384		(2,077		)	7,788		52,307		60,095		(10,470		)	49,625		—
Kansas City, MO	Courtyard	2017	3,955			20,608		1,769			3,955		22,377		26,332		(2,702		)	23,630		—
Lombard, IL	Hyatt Place	2012	1,550			17,351		(445		)	1,550		16,906		18,456		(5,597		)	12,859		—		(1)
Lone Tree, CO	Hyatt Place	2012	1,300			11,704		(203		)	1,314		11,487		12,801		(4,302		)	8,499		—		(1)
Louisville, KY	Fairfield Inn & Suites	2013	3,120			24,231		(531		)	3,120		23,700		26,820		(5,901		)	20,919		34,695		(1)
Louisville, KY	SpringHill Suites	2013	4,880			37,361		(719		)	4,880		36,642		41,522		(9,181		)	32,341		—		(1)
Mesa, AZ	Hyatt Place	2017	2,400			19,848		820			2,400		20,668		23,068		(3,648		)	19,420		47,226		(1)
Metairie, LA	Courtyard	2013	1,860			25,168		349			1,860		25,517		27,377		(7,505		)	19,872		—
Metairie, LA	Residence Inn	2013	1,791			23,386		338			1,791		23,724		25,515		(7,901		)	17,614		—
Miami, FL	Hyatt House	2015	4,926			40,087		1,385			4,926		41,472		46,398		(8,386		)	38,012		—
Milpitas, CA	Hilton Garden Inn	2019	7,921			46,141		4			7,921		46,145		54,066		(588		)	53,478		—
Minneapolis, MN	Hyatt Place	2013	—			34,026		1,424			—		35,450		35,450		(7,901		)	27,549		—
Minneapolis, MN	Hampton Inn & Suites	2015	3,502			35,433		165			3,502		35,598		39,100		(7,669		)	31,431		—		(1)
Minnetonka, MN	Holiday Inn Express & Suites	2013	1,000			7,662		212			1,000		7,874		8,874		(2,723		)	6,151		—
Nashville, TN	SpringHill Suites	2004	777			5,598		299			777		5,897		6,674		(3,473		)	3,201		—
Nashville, TN	Courtyard	2016	8,792			62,759		7,852			8,792		70,611		79,403		(8,259		)	71,144		—
New Haven, CT	Courtyard	2017	11,990			51,497		1,555			11,990		53,052		65,042		(4,489		)	60,553		—
New Orleans, LA	Courtyard	2013	1,944			25,120		3,356			1,944		28,476		30,420		(9,012		)	21,408		—
New Orleans, LA	Courtyard	2013	2,490			34,220		1,136			2,490		35,356		37,846		(10,592		)	27,254		—
New Orleans, LA	SpringHill Suites	2013	2,046			33,270		6,099			2,046		39,369		41,415		(10,459		)	30,956		—
Orlando, FL	Hyatt Place	2013	3,100			11,343		(539		)	3,100		10,804		13,904		(3,861		)	10,043		—		(1)
Orlando, FL	Hyatt Place	2013	2,716			11,221		422			2,716		11,643		14,359		(3,928		)	10,431		—		(1)
Orlando, FL	Hyatt House	2018	2,800			34,423		94			2,800		34,517		37,317		(3,394		)	33,923		—
Owings Mills, MD	Hyatt Place	2012	2,100			9,799		(175		)	2,100		9,624		11,724		(3,337		)	8,387		—		(1)
Pittsburgh, PA	Courtyard	2017	1,652			40,749		5,683			1,652		46,432		48,084		(3,871		)	44,213		—
Portland, OR	Hyatt Place	2009	—		(2)	14,700		457			—		15,157		15,157		(4,534		)	10,623		—
Portland, OR	Residence Inn	2009	—		(2)	15,629		286			—		15,915		15,915		(5,571		)	10,344		16,980		(1)
Portland, OR	Residence Inn	2019	12,813			76,868		38			12,813		76,906		89,719		(1,204		)	88,515		—
Poway, CA	Hampton Inn & Suites	2013	2,300			14,728		1,228			2,300		15,956		18,256		(3,923		)	14,333		—
San Francisco, CA	Hilton Garden Inn	2019	12,346			45,730		36			12,346		45,766		58,112		(585		)	57,527		—
San Francisco, CA	Holiday Inn Express & Suites	2013	15,545			49,469		3,875			15,545		53,344		68,889		(13,191		)	55,698		—
San Francisco, CA	Four Points	2014	1,200			21,397		2,874			1,200		24,271		25,471		(5,094		)	20,377		—		(1)

			Initial Cost				Cost Capitalized Subsequent to Acquisition			Total Cost
Location	Franchise	Year Acquired/ Constructed	Land		Building & Improvements		Land, Building & Improvements			Land		Building & Improvements		Total		Accumulated Depreciation			Total Cost Net of Accumulated Depreciation		Mortgage Debt
Scottsdale, AZ	Hyatt Place	2012	$	1,500	$	10,171	$	(431	)	$	1,500	$	9,740	$	11,240	$	(3,120	)	$	8,120	$	—	(1)
Scottsdale, AZ	Courtyard	2003	3,225		12,571		3,648			3,225		16,219		19,444		(5,694		)	13,750		—
Scottsdale, AZ	SpringHill Suites	2003	2,195		9,496		1,750			2,195		11,246		13,441		(4,109		)	9,332		—
Silverthorne, CO	Hampton Inn & Suites	2019	6,845		21,125		145			6,845		21,270		28,115		(334		)	27,781		—
Tampa, FL	Hampton Inn & Suites	2012	3,600		20,366		4,466			3,600		24,832		28,432		(4,641		)	23,791		—
Tucson, AZ	Homewood Suites	2017	2,570		22,802		996			2,570		23,798		26,368		(2,981		)	23,387		—
Waltham, MA	Hilton Garden Inn	2017	10,644		21,713		5,888			10,644		27,601		38,245		(2,212		)	36,033		—
Watertown, MA	Residence Inn	2018	25,083		45,917		223			25,083		46,140		71,223		(2,528		)	68,695		—
Land Parcels	Land Parcels		4,645		—		(2,720		)	1,925		—		1,925		—			1,925		—
			$	323,075	$	2,123,406	$	106,947		$	321,528	$	2,231,900	$	2,553,428	$	(383,763	)	$	2,169,665	$	157,726

(1) Properties cross-collateralize the related loan, refer to "Note 6 - Debt" in the Consolidated Financial Statements.

(2) Properties subject to ground lease, refer to "Note 7 - Leases" in the Consolidated Financial Statements.

(a)         ASSET BASIS

	2019			2018			2017
Reconciliation of land, buildings and improvements:
Balance at beginning of period	$	2,406,269		$	2,355,723		$	1,848,673
Additions to land, buildings and improvements	336,480			151,829			636,389
Disposition of land, buildings and improvements	(186,800		)	(100,208		)	(129,339		)
Impairment loss	(2,521		)	(1,075		)	—
Balance at end of period	$	2,553,428		$	2,406,269		$	2,355,723

 (b)         ACCUMULATED DEPRECIATION

	2019			2018			2017
Reconciliation of accumulated depreciation:
Balance at beginning of period	$	351,821		$	290,066		$	241,760
Depreciation	99,013			100,545			85,524
Depreciation on assets sold or disposed	(67,071		)	(38,790		)	(37,218		)
Balance at end of period	$	383,763		$	351,821		$	290,066

 (c)        The aggregate cost of real estate for Federal income tax purposes was approximately $2,358.1 million.

(d)         Depreciation is computed based upon the following useful lives:

Buildings and improvements 6-40 years

Furniture and equipment 2-15 years

(e)          We have mortgages payable on the properties as noted.  Additional mortgage information can be found in "Note 6 - Debt" to the Consolidated Financial Statements.

(f)           The negative balance for costs capitalized subsequent to acquisition include out-parcels sold, disposal of assets, and recorded impairment losses.