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

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2019

					Initial Cost (b)				Costs Capitalized Subsequent to Acquisition (c)						Gross Amounts at Which Carried at Close of Period (d)
							Buildings					Buildings					Buildings								Date
(In thousands)							and					and					and				Accumulated			Date of	Acquired /
Name of Center	Location	Center Type	Encumbrances (a)		Land		Improvements		Land (e)			Improvements (e)(f)			Land		Improvements (f)		Total		Depreciation (g)			Construction	Completed
Bridgeland
Bridgeland	Cypress, TX	MPC	$	107,500	$	260,223	$	—	$	227,091		$	1,822		$	487,314	$	1,822	$	489,136	$	(476	)		2004
Lakeland Village Center at Bridgeland (h)	Cypress, TX	Retail	14,135		2,404		11,135		—			3,306			2,404		14,441		16,845		(1,424		)		2016
Lakeside Row	Cypress, TX	Multi-family	23,958		—		—		812			42,065			812		42,065		42,877		(172		)	2018	2019
Columbia
American City Building	Columbia, MD	Other	—		—		13,534		—			1,043			—		14,577		14,577		—				2016
Columbia	Columbia, MD	MPC	—		457,552		—		(440,909		)	—			16,643		—		16,643		—				2004
10 - 70 Columbia Corporate Center (h)	Columbia, MD	Office	99,184		24,685		94,824		—			26,511			24,685		121,335		146,020		(20,345		)		2012/2014
Columbia Office Properties	Columbia, MD	Office	—		1,175		14,913		—			(937		)	1,175		13,976		15,151		(5,362		)		1969/1972
Columbia Regional Building	Columbia, MD	Office	24,664		—		28,865		—			2,357			—		31,222		31,222		(5,042		)		2014
Juniper Apartments	Columbia, MD	Development	34,610		—		—		—			84,635			—		84,635		84,635		—			2018
Lakefront	Columbia, MD	Other	—		—		1,964		—			2,692			—		4,656		4,656		—				2004
Merriweather District	Columbia, MD	Development	—		—		—		—			95,431			—		95,431		95,431		—				2015
Merriweather District Area 3 Standalone Restaurant	Columbia, MD	Development	—		—		—		—			8,815			—		8,815		8,815		—			2019
6100 Merriweather	Columbia, MD	Office	36,418		—		—		2,489			88,385			2,489		88,385		90,874		(589		)	2018	2019
One Mall North (h)	Columbia, MD	Office	12,425		7,822		10,818		—			906			7,822		11,724		19,546		(983		)		2016
One Merriweather (h)	Columbia, MD	Office	42,008		1,433		58,936		—			15,401			1,433		74,337		75,770		(6,255		)		2017
Two Merriweather	Columbia, MD	Office	28,216		1,019		4,931		—			32,842			1,019		37,773		38,792		(2,388		)		2017
Ridgely Building	Columbia, MD	Other	—		400		58,937		(400		)	(58,537		)	—		400		400		—				2017
Sterrett Place	Columbia, MD	Other	—		—		5,618		—			303			—		5,921		5,921		(77		)		2018
Seaport District
85 South Street	New York, NY	Multi-family	—		15,913		8,137		—			1,341			15,913		9,478		25,391		(3,311		)		2014
Seaport Predevelopment	New York, NY	Development	—		—		7,641		—			3,493			—		11,134		11,134		—			2013
Tin Building	New York, NY	Development	—		—		8,290		—			59,037			—		67,327		67,327		—				2015
Pier 17	New York, NY	Retail	250,000		—		468,476		—			195			—		468,671		468,671		(24,912		)	2017	2018
Seaport District Historic Area / Uplands	New York, NY	Retail	—		—		7,884		—			112,532			—		120,416		120,416		(13,418		)	2013	2016
250 Water Street	New York, NY	Development	100,000		—		179,471		—			330			—		179,801		179,801		—				2018
Summerlin
Aristocrat (i)	Las Vegas, NV	Office	38,092		5,004		34,588		—			—			5,004		34,588		39,592		(1,554		)	2017	2018
Constellation	Las Vegas, NV	Multi-family	24,200		3,069		39,759		—			—			3,069		39,759		42,828		(1,815		)		2016
Downtown Summerlin (i) (j)	Las Vegas, NV	Retail/Office	261,748		30,855		364,100		—			38,175			30,855		402,275		433,130		(75,151		)		2014
Hockey Ground Lease (i)	Las Vegas, NV	Other	135		—		—		6,705			2,198			6,705		2,198		8,903		(128		)		2017
Las Vegas Ballpark (i)	Las Vegas, NV	Other	51,561		—		179		5,318			122,626			5,318		122,805		128,123		(5,100		)		2019
Two Summerlin (i)	Las Vegas, NV	Office	33,283		3,037		47,104		—			—			3,037		47,104		50,141		(1,599		)	2017	2018
Summerlin	Las Vegas, NV	MPC	20,284		990,179		—		(144,740		)	640			845,439		640		846,079		(256		)		2004
Tanager Apartments (i)	Las Vegas, NV	Multi-family	29,434		—		—		9,633			53,542			9,633		53,542		63,175		(632		)	2017	2019
The Woodlands
Creekside Park Apartments	The Woodlands, TX	Multi-family	37,730		729		40,116		—			—			729		40,116		40,845		(1,468		)	2017	2018
Creekside Park Apartments Phase II	The Woodlands, TX	Development	—		—		—		—			5,749			—		5,749		5,749		—			2019

				Initial Cost (b)		Costs Capitalized Subsequent to Acquisition (c)				Gross Amounts at Which Carried at Close of Period (d)
					Buildings			Buildings			Buildings					Date
(In thousands)					and			and			and		Accumulated		Date of	Acquired /
Name of Center	Location	Center Type	Encumbrances (a)	Land	Improvements	Land (e)		Improvements (e)(f)		Land	Improvements (f)	Total	Depreciation (g)		Construction	Completed
Creekside Park West	The Woodlands, TX	Retail	8,505	—	—	1,228		17,673		1,228	17,673	18,901	(95	)	2018	2019
Creekside Village Green (h)	The Woodlands, TX	Retail	17,051	2,551	33,822	(1,228	)	(17,536	)	1,323	16,286	17,609	(2,902	)		2015
Embassy Suites at Hughes Landing (h)	The Woodlands, TX	Hospitality	27,970	—	6,752	1,818		36,479		1,818	43,231	45,049	(6,079	)		2015
100 Fellowship Drive (k)	The Woodlands, TX	Office	47,916	—	—	—		—		—	—	—	—		2017	2019
HHC 242 Self-Storage	The Woodlands, TX	Other	5,499	878	6,802	—		1,106		878	7,908	8,786	(602	)		2017
HHC 2978 Self-Storage	The Woodlands, TX	Other	5,395	124	5,498	—		2,063		124	7,561	7,685	(542	)		2017
One Hughes Landing	The Woodlands, TX	Office	52,000	1,678	34,761	—		(57	)	1,678	34,704	36,382	(9,689	)		2013
Two Hughes Landing	The Woodlands, TX	Office	48,000	1,269	34,950	—		(282	)	1,269	34,668	35,937	(9,727	)		2014
Three Hughes Landing	The Woodlands, TX	Office	59,822	2,626	46,372	—		31,161		2,626	77,533	80,159	(8,453	)		2016
1725 Hughes Landing Boulevard (h)	The Woodlands, TX	Office	56,772	1,351	36,764	—		36,026		1,351	72,790	74,141	(14,356	)		2015
1735 Hughes Landing Boulevard (h)	The Woodlands, TX	Office	54,568	3,709	97,651	—		(360	)	3,709	97,291	101,000	(17,780	)		2015
Hughes Landing Daycare	The Woodlands, TX	Other	—	—	—	138		—		138	—	138	—		2018	2019
Hughes Landing Retail	The Woodlands, TX	Retail	35,000	5,184	—	—		33,105		5,184	33,105	38,289	(6,060	)		2015
1701 Lake Robbins (h)	The Woodlands, TX	Office	3,658	1,663	3,725	—		459		1,663	4,184	5,847	(568	)		2014
Lake Woodlands Crossing Retail	The Woodlands, TX	Retail	12,163	5,122	11,440	—		—		5,122	11,440	16,562	(458	)	2017	2018
2201 Lake Woodlands Drive	The Woodlands, TX	Office	—	3,755	—	—		1,167		3,755	1,167	4,922	(164	)		1994
Lakefront North	The Woodlands, TX	Office	32,731	10,260	39,357	—		12,098		10,260	51,455	61,715	(1,398	)		2018
One Lakes Edge	The Woodlands, TX	Multi-family	69,440	1,057	81,768	—		323		1,057	82,091	83,148	(10,144	)		2015
Two Lakes Edge	The Woodlands, TX	Development	38,214	—	—	—		86,499		—	86,499	86,499	—		2018
Millennium Phase III Apartments	The Woodlands, TX	Development	1	—	—	—		12,529		—	12,529	12,529	—		2019
Millennium Six Pines Apartments	The Woodlands, TX	Multi-family	42,500	4,000	54,624	7,225		413		11,225	55,037	66,262	(6,868	)		2014
Millennium Waterway Apartments	The Woodlands, TX	Multi-family	53,032	15,917	56,002	—		2,710		15,917	58,712	74,629	(17,630	)		2010
8770 New Trails	The Woodlands, TX	Development	15,124	—	—	—		32,053		—	32,053	32,053	—		2019
9303 New Trails	The Woodlands, TX	Office	11,196	1,929	11,915	—		741		1,929	12,656	14,585	(2,798	)		2008
3831 Technology Forest Drive	The Woodlands, TX	Office	21,137	514	14,194	—		1,813		514	16,007	16,521	(4,013	)		2014
20/25 Waterway Avenue	The Woodlands, TX	Retail	13,131	2,346	8,871	—		(59	)	2,346	8,812	11,158	(2,105	)		2007/2009
Waterway Garage Retail	The Woodlands, TX	Retail	—	1,341	4,255	—		1,117		1,341	5,372	6,713	(1,414	)		2011
3 Waterway Square	The Woodlands, TX	Office	47,647	748	—	—		42,318		748	42,318	43,066	(12,688	)		2013
4 Waterway Square	The Woodlands, TX	Office	32,789	1,430	51,553	—		6,208		1,430	57,761	59,191	(15,482	)		2010
The Westin at the Woodlands (h)	The Woodlands, TX	Hospitality	41,793	22,473	—	(20,520	)	94,425		1,953	94,425	96,378	(11,320	)		2016
The Woodlands	The Woodlands, TX	MPC	107,500	269,411	9,814	(82,637	)	10,558		186,774	20,372	207,146	(2,714	)		2011
The Woodlands Ground Leases	The Woodlands, TX	Other	—	1,770	—	3,257		—		5,027	—	5,027	—			2011
The Woodlands Parking Garages	The Woodlands, TX	Other	—	5,857	—	1,529		12,038		7,386	12,038	19,424	(1,812	)		2008/2009
2000 Woodlands Parkway	The Woodlands, TX	Retail	—	—	—	—		655		—	655	655	(65	)		1997
The Woodlands Resort & Conference Center	The Woodlands, TX	Hospitality	62,500	13,258	37,983	—		79,415		13,258	117,398	130,656	(24,368	)		2014
The Woodlands Towers at the Waterway	The Woodlands, TX	Office	336,570	11,044	437,561	—		—		11,044	437,561	448,605	—			2019
The Woodlands Warehouse	The Woodlands, TX	Other	7,230	4,480	4,389	—		—		4,480	4,389	8,869	—			2019
1400 Woodloch Forest	The Woodlands, TX	Office	—	—	—	1,570		14,761		1,570	14,761	16,331	(4,841	)		1981
The Woodlands Hills
The Woodlands Hills	Conroe, TX	MPC	—	99,284	—	20,220		—		119,504	—	119,504	—			2014
Ward Village
‘A‘ali‘i	Honolulu, HI	Development	30,717	—	—	—		143,559		—	143,559	143,559	(1,816	)	2018

						Initial Cost (b)				Costs Capitalized Subsequent to Acquisition (c)						Gross Amounts at Which Carried at Close of Period (d)
								Buildings					Buildings					Buildings								Date
(In thousands)								and					and					and				Accumulated			Date of	Acquired /
Name of Center	Location	Center Type	Encumbrances (a)			Land		Improvements		Land (e)			Improvements (e)(f)			Land		Improvements (f)		Total		Depreciation (g)			Construction	Completed
Ae‘o	Honolulu, HI	Condominium	—			9,795		85,046		(9,795		)	(83,884		)	—		1,162		1,162		(29		)	2016	2018
Anaha	Honolulu, HI	Condominium	—			5,546		47,450		(5,546		)	(46,353		)	—		1,097		1,097		(57		)	2014	2017
Ke Kilohana	Honolulu, HI	Condominium	—			2,615		17,784		(2,463		)	(4,942		)	152		12,842		12,994		(290		)	2016	2019
Kewalo Basin Harbor	Honolulu, HI	Other	11,111			—		—		—			23,721			—		23,721		23,721		(1,310		)	2017	2019
Kō'ula	Honolulu, HI	Development	—			—		—		—			47,483			—		47,483		47,483		(1,402		)	2019
Waiea	Honolulu, HI	Condominium	—			—		20,812		—			(16,898		)	—		3,914		3,914		(93		)	2014	2017
Ward Predevelopment	Honolulu, HI	Development	—			—		24,069		—			54,310			—		78,379		78,379		(1,779		)	2013
Ward Village Retail (h)	Honolulu, HI	Retail	245,436			164,007		89,321		(76,405		)	280,901			87,602		370,222		457,824		(83,280		)		2002
Other
Century Park	Houston, TX	Development	—			19,816		36,763		—			—			19,816		36,763		56,579		—				2019
Landmark Mall	Alexandria, VA	Development	—			28,396		67,235		(28,396		)	(10,344		)	—		56,891		56,891		(247		)		2004
Monarch City	Dallas, TX	Development	—			25,575		—		(25,575		)	28,609			—		28,609		28,609		—				2006
110 North Wacker	Chicago, IL	Development	184,300			—		29,035		—			334,492			—		363,527		363,527		—			2018
Outlet Collection at Riverwalk	New Orleans, LA	Retail	30,615			—		94,513		—			(578		)	—		93,935		93,935		(16,526		)		2014
The Elk Grove Collection	Elk Grove, CA	Development	—			—		—		—			10,771			—		10,771		10,771		—				2003
Total excluding Corporate, Deferred financing costs and Unamortized bond issuance costs			3,138,618			2,558,278		3,153,071		(549,581		)	2,059,364			2,008,697		5,212,435		7,221,132		(476,421		)
Corporate	Various		1,000,000			885		1,027		(885		)	46,129			—		47,156		47,156		(31,512		)
Unamortized bond issuance costs	N/A		(5,249		)	—		—		—			—			—		—		—		—
Deferred financing costs	N/A		(36,899		)	—		—		—			—			—		—		—		—
		Total	$	4,096,470		$	2,559,163	$	3,154,098	$	(550,466	)	$	2,105,493		$	2,008,697	$	5,259,591	$	7,268,288	$	(507,933	)

(a) See description of Encumbrances in Note 7 - Mortgages, Notes and Loans Payable, Net of the Consolidated Financial Statements.

(b) Initial cost for projects undergoing development or redevelopment is cost at end of first complete calendar year subsequent to opening.

(c) For retail and other properties, costs capitalized subsequent to acquisitions is net of cost of disposals or other property write‑downs. For MPCs, costs capitalized subsequent to acquisitions are net of the cost of land sales.

(d) The aggregate cost of land, building and improvements for federal income tax purposes is approximately $6.1 billion.

(e) Reductions in Land reflect transfers to Buildings and Improvements for projects which the Company is internally developing.

(f) Includes all amounts related to Developments.

(g) Depreciation is computed based upon the useful lives in Note 1 - Summary of Significant Accounting Policies.

(h) Property is collateral for the Senior Secured Credit Facility. See Note 7 - Mortgages, Notes and Loans Payable, Net of the Consolidated Financial Statements for additional information.

(i) Encumbrances balance either represents or is inclusive of SIDs. See Note 7 - Mortgages, Notes and Loans Payable, Net of the Consolidated Financial Statements for additional information.

(j) Downtown Summerlin includes the One Summerlin office property, which was placed in service in 2015.

(k) Lands, buildings and improvements were derecognized and a Net investment in lease receivable was recorded during 2019. Refer to Note 1 - Summary of Significant Accounting Policies for additional information.

Reconciliation of Real Estate
(In thousands)	2019			2018			2017
Balance at beginning of year	$	6,163,287		$	5,355,409		$	4,979,840
Change in land	239,558			199,069			93,833
Additions	1,513,888			1,148,826			790,183
Impairments	—			—			—
Dispositions and write-offs and land and condominium costs of sales	(648,445		)	(540,017		)	(508,447		)
Balance at end of year	$	7,268,288		$	6,163,287		$	5,355,409

Reconciliation of Accumulated Depreciation
(In thousands)	2019			2018			2017
Balance at beginning of year	$	380,892		$	321,882		$	245,814
Depreciation Expense	143,698			113,518			116,401
Dispositions and write-offs	(16,657		)	(54,508		)	(40,333		)
Balance at end of year	$	507,933		$	380,892		$	321,882