XML 44 R28.htm IDEA: XBRL DOCUMENT v3.22.0.1
Schedule III - Consolidated Real Estate Investments 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]  
Schedule III - Consolidated Real Estate Investments and Accumulated Depreciation
SCHEDULE III—Consolidated Real Estate Investments and Accumulated Depreciation
December 31, 2021
  
  
 
Initial CostCost CapitalizedGross Carrying Amount  Year of
 
  
 
 Building andSubsequent to Building and AccumulatedNet CarryingConstruction/
 
 Encumbrances
 
LandImprovementsAcquisitionLandImprovementsTotalDepreciation
Amount (1)
Acquisition
 
Office
4525 Main Street$31,476 
 
$982 $— $46,703 $982 $46,703 $47,685 $11,903 $35,782 2014
 
Armada Hoffler Tower— 
(2)
1,976 — 68,938 1,976 68,938 70,914 40,667 30,247 2002
 
Brooks Crossing Office14,882 295 — 19,509 295 19,509 19,804 1,789 18,015 2016/2019
One City Center24,084 2,911 28,202 6,291 2,911 34,493 37,404 2,742 34,662 2019
One Columbus— 
(2)
960 10,269 13,707 960 23,976 24,936 13,880 11,056 1984
 
Thames Street Wharf70,761 15,861 64,689 353 15,861 65,042 80,903 4,237 76,666 2010/2019
Two Columbus— 
(2)
53 — 21,321 53 21,321 21,374 10,206 11,168 2009
 
Wills Wharf64,288 — — 107,664 — 107,664 107,664 4,214 103,450 2020
Total office$205,491 $23,038 $103,160 $284,486 $23,038 $387,646 $410,684 $89,638 $321,046  
 
Retail          
 
249 Central Park Retail$16,352 $713 $— $16,795 $713 $16,795 $17,508 $9,367 $8,141 2004
 
Apex Entertainment— 
(2)
67 — 17,893 67 17,893 17,960 6,404 11,556 2002
Broad Creek Shopping Center— 
(2)
— — 9,423 — 9,423 9,423 4,854 4,569 1997-2001
 
Broadmoor Plaza— 
(2)
2,410 9,010 1,072 2,410 10,082 12,492 2,828 9,664 1980/2016
Brooks Crossing Retail— 117 — 2,364 117 2,364 2,481 376 2,105 2016
Columbus Village— 
(2)
7,631 10,135 8,259 7,631 18,394 26,025 4,208 21,817 1980/2015
 
Columbus Village II— 
(2)
14,536 10,922 89 14,536 11,011 25,547 2,216 23,331 1995/2016
Commerce Street Retail— 
(2)
118 — 3,318 118 3,318 3,436 1,980 1,456 2008
 
Delray Beach Plaza14,039 — 27,151 134 — 27,285 27,285 833 26,452 2021
Dimmock Square— 
(2)
5,100 13,126 677 5,100 13,803 18,903 2,860 16,043 1998/2014
 
Fountain Plaza Retail9,841 425 — 7,519 425 7,519 7,944 4,023 3,921 2004
 
Greenbrier Square20,000 8,549 21,170 14 8,549 21,184 29,733 288 29,445 2017/2021
Greentree Shopping Center— 
(2)
1,103 — 4,147 1,103 4,147 5,250 1,287 3,963 2014
 
Hanbury Village— 
(2)
2,566 — 16,312 2,566 16,312 18,878 7,549 11,329 2006
 
Harrisonburg Regal— 1,554 — 4,148 1,554 4,148 5,702 2,415 3,287 1999
 
Lexington Square14,172 3,035 20,581 298 3,035 20,879 23,914 2,420 21,494 2017/2018
Market at Mill Creek13,142 2,261 — 21,007 2,261 21,007 23,268 1,910 21,358 2018
Marketplace at Hilltop9,706 2,023 19,886 201 2,023 20,087 22,110 1,530 20,580 2000/2019
Nexton Square20,107 9,086 27,760 3,413 9,086 31,173 40,259 1,407 38,852 2020
North Hampton Market— 
(2)
7,250 10,210 947 7,250 11,157 18,407 2,576 15,831 2004/2016
North Point Center1,942 
(3)
1,936 — 28,859 1,936 28,859 30,795 15,767 15,028 1998
 
Overlook Village— 
(2)
6,328 20,101 112 6,328 20,213 26,541 342 26,199 1990/2021
Parkway Centre— 
(2)
1,372 7,864 114 1,372 7,978 9,350 966 8,384 2017/2018
Parkway Marketplace— 
(2)
1,150 — 3,894 1,150 3,894 5,044 2,250 2,794 1998
Patterson Place— 
(2)
15,060 20,180 865 15,060 21,045 36,105 3,856 32,249 2004/2016
Perry Hall Marketplace— 
(2)
3,240 8,316 505 3,240 8,821 12,061 2,254 9,807 2001/2015
 
Premier Retail8,131 318 — 15,318 318 15,318 15,636 1,551 14,085 2018
Providence Plaza— 
(2)
9,950 12,369 1,818 9,950 14,187 24,137 3,038 

21,099 2007/2015
 
Red Mill Commons22,281 
(3)
44,252 30,348 1,991 44,252 32,339 76,591 4,425 72,166 2000/2019
Sandbridge Commons— 
(2)
4,825 — 7,458 4,825 7,458 12,283 2,170 

10,113 2015
 
South Retail7,179 190 — 8,279 190 8,279 8,469 5,090 

3,379 2002
 
South Square— 
(2)
14,130 12,670 1,099 14,130 13,769 27,899 2,837 25,062 1977/2016
Southgate Square27,060 10,238 25,950 5,152 10,238 31,102 41,340 5,476 35,864 1991/2016
Southshore Shops— 
(2)
1,770 6,509 285 1,770 6,794 8,564 1,178 7,386 2006/2016
Studio 56 Retail— 
(2)
76 — 2,596 76 2,596 2,672 1,172 

1,500 2007
 
Tyre Neck Harris Teeter— 
(2)
— — 3,306 — 3,306 3,306 1,588 

1,718 2011
 
Wendover Village— 
(2)
19,893 22,638 808 19,893 23,446 43,339 3,799 39,540 2004/2016-2019
Total retail$183,952 $203,272 $336,896 $200,489 $203,272 $537,385 $740,657 $119,090 

$621,567  
Multifamily
1405 Point $52,286 $— $95,466 $3,146 $— $98,612 $98,612 $8,487 $90,125 2018/2019
Chronicle Mill— 2,313 — 25,879 2,313 25,879 28,192 — 28,192 2021(4)
Edison Apartments15,926 3,428 18,582 1,281 3,428 19,863 23,291 1,019 22,272 1919 & 2014/2020
Encore Apartments24,523 1,293 — 30,855 1,293 30,855 32,148 7,028 25,120 2014
Gainesville Apartments18,114 5,200 — 37,204 5,200 37,204 42,404 — 42,404 2020(4)
Greenside Apartments32,598 5,711 — 45,350 5,711 45,350 51,061 4,855 46,206 2018
Liberty Apartments13,572 3,580 23,494 2,299 3,580 25,793 29,373 6,782 22,591 2013/2014
Premier Apartments16,508 647 — 29,218 647 29,218 29,865 2,963 26,902 2018
Smith’s Landing16,452 — 35,105 3,395 — 38,500 38,500 10,342 28,158 2009/2013
Southern Post— 5,000 — 6,480 5,000 6,480 11,480 — 11,480 2021(4)
The Cosmopolitan42,090 985 — 73,932 985 73,932 74,917 31,836 43,081 2006
The Residences at Annapolis Junction84,375 14,774 104,801 385 14,774 105,186 119,960 3,774 116,186 2018/2020
Total multifamily$316,444 $42,931 $277,448 $259,424 $42,931 $536,872 $579,803 $77,086 $502,717   
Held for development$— $6,294 $— $— $6,294 $— $6,294 $— $6,294   
Real estate investments$705,887 $275,535 $717,504 $744,399 $275,535 $1,461,903 $1,737,438 $285,814 $1,451,624   
________________________________________
(1)The net carrying amount of real estate for federal income tax purposes was $1,329.6 million as of December 31, 2021.  
(2)Borrowing base collateral for the credit facility as of December 31, 2021.  
(3)A portion of this property is borrowing base collateral for the credit facility as of December 31, 2021.
(4)Construction in progress as of December 31, 2021.      
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, 
 2021202020212020
Balance at beginning of the year$1,757,917 $1,606,324 $253,965 $224,738 
Construction costs and improvements86,325 58,039 — — 
Acquisitions83,723 196,214 — — 
Dispositions(83,848)(101,768)(14,809)(14,444)
Reclassifications(106,679)(892)(5,010)— 
Depreciation— — 51,668 43,671 
Balance at end of the year$1,737,438 $1,757,917 $285,814 $253,965