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Schedule III - Consolidated Real Estate Investments and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III - Consolidated Real Estate Investments and Accumulated Depreciation
SCHEDULE III—Consolidated Real Estate Investments and Accumulated Depreciation
December 31, 2020
  
  
 
Initial CostCost CapitalizedGross Carrying Amount  Year of
 
  
 
 Building andSubsequent to Building and AccumulatedNet CarryingConstruction/
 
 Encumbrances
 
LandImprovementsAcquisitionLandImprovementsTotalDepreciation
Amount (1)
Acquisition
 
Office
4525 Main Street$31,231 
 
$982 $— $52,562 $982 $52,562 $53,544 $9,994 $43,550 2014
 
Armada Hoffler Tower— 
(2)
1,976 — 61,372 1,976 61,372 63,348 38,057 25,291 2002
 
Brooks Crossing Office15,393 295 — 19,546 295 19,546 19,841 1,129 18,712 2016
One City Center24,712 2,911 28,202 6,173 2,911 34,375 37,286 1,655 35,631 2019
One Columbus— 
(2)
960 10,269 12,857 960 23,126 24,086 12,878 11,208 1984
 
Thames Street Wharf70,000 15,861 64,689 233 15,861 64,922 80,783 2,539 78,244 2010/2019
Two Columbus— 
(2)
53 — 21,145 53 21,145 21,198 9,487 11,711 2009
 
Wills Wharf59,044 — — 104,209 — 104,209 104,209 1,205 103,004 2019(4)
Total office$200,380 $23,038 $103,160 $278,097 $23,038 $381,257 $404,295 $76,944 $327,351  
 
Retail          
 
249 Central Park Retail$16,597 $712 $— $16,526 $712 $16,526 $17,238 $8,703 $8,535 2004
 
Apex Entertainment— 
(2)
67 — 17,827 67 17,827 17,894 5,360 12,534 2002
Broad Creek Shopping Center— 
(2)
— — 9,101 — 9,101 9,101 4,593 4,508 1997-2001
 
Broadmoor Plaza— 
(2)
2,410 9,010 1,029 2,410 10,039 12,449 2,356 10,093 1980/2016
Brooks Crossing Retail— 359 — 2,333 359 2,333 2,692 303 2,389 2016
Columbus Village— 
(2)
7,631 10,135 8,019 7,631 18,154 25,785 3,326 22,459 1980/2015
 
Columbus Village II— 
(2)
14,536 10,922 63 14,536 10,985 25,521 1,788 23,733 1995/2016
Commerce Street Retail— 
(2)
118 — 3,317 118 3,317 3,435 1,872 1,563 2008
 
Courthouse 7-Eleven— 
(2)
1,007 — 1,044 1,007 1,044 2,051 244 1,807 2011
 
Dimmock Square— 
(2)
5,100 13,126 392 5,100 13,518 18,618 2,438 16,180 1998/2014
 
Fountain Plaza Retail9,988 425 — 7,406 425 7,406 7,831 3,799 4,032 2004
 
Greentree Shopping Center— 
(2)
1,103 — 4,136 1,103 4,136 5,239 1,077 4,162 2014
 
Hanbury Village— 
(2)
2,566 — 16,249 2,566 16,249 18,815 7,037 11,778 2006
 
Harrisonburg Regal— 1,554 — 4,148 1,554 4,148 5,702 2,309 3,393 1999
 
Lexington Square14,440 3,035 20,581 269 3,035 20,850 23,885 1,658 22,227 2017/2018
Market at Mill Creek13,789 2,261 — 20,878 2,261 20,878 23,139 1,156 21,983 2018
Marketplace at Hilltop10,120 2,023 19,886 50 2,023 19,936 21,959 955 21,004 2000/2019
Nexton Square22,909 9,086 27,760 807 9,086 28,567 37,653 337 37,316 2020/2020
North Hampton Market— 
(2)
7,250 10,210 687 7,250 10,897 18,147 2,175 15,972 2004/2016
North Point Center2,094 
(3)
1,936 — 25,733 1,936 25,733 27,669 15,053 12,616 1998
 
Oakland Marketplace— 
(2)
1,850 3,370 692 1,850 4,062 5,912 1,124 4,788 2004/2016
Parkway Centre— 
(2)
1,372 7,864 114 1,372 7,978 9,350 717 8,633 2017/2018
Parkway Marketplace— 
(2)
1,150 — 3,841 1,150 3,841 4,991 2,133 2,858 1998
Patterson Place— 
(2)
15,059 20,180 726 15,059 20,906 35,965 3,235 32,730 2004/2016
Perry Hall Marketplace— 
(2)
3,240 8,316 459 3,240 8,775 12,015 1,901 10,114 2001/2015
 
Premier Retail8,241 318 — 15,069 318 15,069 15,387 979 14,408 2018
Providence Plaza— 
(2)
9,950 12,369 1,580 9,950 13,949 23,899 2,460 

21,439 2007/2015
 
Red Mill Commons23,341 
(3)
44,252 30,348 778 44,252 31,126 75,378 2,623 72,755 2000/2019
Sandbridge Commons— 
(2)
4,825 — 7,365 4,825 7,365 12,190 1,833 

10,357 2015
 
Socastee Commons4,458 2,320 5,380 149 2,320 5,529 7,849 1,147 

6,702 2000/2015
 
South Retail7,287 190 — 8,165 190 8,165 8,355 4,809 

3,546 2002
 
South Square— 
(2)
14,130 12,670 930 14,130 13,600 27,730 2,390 25,340 1977/2016
Southgate Square19,682 10,238 25,950 4,700 10,238 30,650 40,888 4,336 36,552 1991/2016
Southshore Shops— 
(2)
1,770 6,509 208 1,770 6,717 8,487 937 7,550 2006/2016
Studio 56 Retail— 
(2)
76 — 2,532 76 2,532 2,608 1,083 

1,525 2007
 
Tyre Neck Harris Teeter— 
(2)
— — 3,306 — 3,306 3,306 1,422 

1,884 2011
 
Wendover Village— 
(2)
19,893 22,638 475 19,893 23,113 43,006 3,115 39,891 2004/2016-2019
Total retail$152,946 $193,812 $277,224 $191,103 $193,812 $468,327 $662,139 $102,783 

$559,356  
Multifamily
1405 Point $53,000 $— $95,466 $2,775 $— $98,241 $98,241 $5,261 $92,980 2018/2019
Edison Apartments16,272 3,428 18,582 383 3,428 18,965 22,393 128 22,265 1919 & 2014/2020
Encore Apartments24,337 1,293 — 30,548 1,293 30,548 31,841 6,083 25,758 2014
Greenside Apartments33,310 5,711 — 45,216 5,711 45,216 50,927 3,327 47,600 2018
Hoffler Place18,400 7,401 — 40,197 7,401 40,197 47,598 1,668 45,930 2019
Johns Hopkins Village50,859 — — 70,117 — 70,117 70,117 10,071 60,046 2016
Liberty Apartments13,877 3,580 23,494 2,084 3,580 25,578 29,158 5,951 23,207 2013/2014
Premier Apartments16,716 647 — 29,169 647 29,169 29,816 2,060 27,756 2018
Smith’s Landing17,331 — 35,105 2,588 — 37,693 37,693 9,164 28,529 2009/2013
Solis Gainesville— 5,200 — 6,208 5,200 6,208 11,408 — 11,408 2020(4)
Summit Place23,100 7,315 — 48,567 7,315 48,567 55,882 576 55,306 2020
The Cosmopolitan42,909 985 — 72,208 985 72,208 73,193 29,199 43,994 2006
The Residences at Annapolis Junction84,375 14,774 104,801 34 14,774 104,835 119,609 750 118,859 2018/2020
Total multifamily$394,486 $50,334 $277,448 $350,094 $50,334 $627,542 $677,876 $74,238 $603,638   
Held for development$— $13,607 $— $— $13,607 $— $13,607 $— $13,607   
Real estate investments$747,812 $280,791 $657,832 $819,294 $280,791 $1,477,126 $1,757,917 $253,965 $1,503,952   
________________________________________
(1)The net carrying amount of real estate for federal income tax purposes was $1,288.5 million as of December 31, 2020.  
(2)Borrowing base collateral for the credit facility as of December 31, 2020.  
(3)A portion of this property is borrowing base collateral for the credit facility as of December 31, 2020.
(4)Construction in progress as of December 31, 2020.      
Income producing property is depreciated on a straight-line basis over the following estimated useful lives:
 
Buildings39 years
Capital improvements
5—20 years
Equipment
3—7 years
Tenant improvementsTerm of the related lease
 (or estimated useful life, if shorter)
 
 Real EstateAccumulated
 InvestmentsDepreciation
 December 31, 
 2020201920202019
Balance at beginning of the year$1,606,324 $1,176,586 $224,738 $188,775 
Construction costs and improvements58,039 143,700 — — 
Acquisitions196,214 314,898 — — 
Dispositions(101,768)(28,117)(14,444)(1,818)
Reclassifications(892)(743)— (58)
Depreciation— — 43,671 37,839 
Balance at end of the year$1,757,917 $1,606,324 $253,965 $224,738