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Schedule III - Real Estate 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 - Real Estate and Accumulated Depreciation

STRATEGIC STUDENT & SENIOR HOUSING TRUST, INC. AND SUBSIDIARIES

SCHEDULE III

December 31, 2021

 

 

 

 

 

 

 

Initial Cost to Company

 

 

 

Gross Carrying Amount at December 31, 2021

 

 

 

 

Description

 

ST

 

Encumbrance(3)

 

Land(3)

 

Building
and
Improvements(2)(3)

 

Total(3)

 

Cost
Capitalized
Subsequent
to
Acquisition(3)

 

Land(3)

 

Building
and
Improvements(2)(3)

 

Total(3)

 

Accumulated
Depreciation(3)

 

Date
of
Construction

 

Date
Acquired

Fayetteville

 

AR

 

$29,500,000

 

$4,903,000

 

$48,477,000

 

$53,380,000

 

$784,579

 

$4,903,000

 

$49,261,579

 

$54,164,579

 

$(7,913,012)

 

2016

 

6/28/2017

Tallahassee(4)

 

FL

 

23,500,000

 

3,780,000

 

41,064,000

 

44,844,000

 

205,916

 

3,780,000

 

41,269,916

 

45,049,916

 

          (6,495,529)

 

2017

 

9/28/2017

Wellington

 

UT

 

28,709,000

 

2,520,000

 

43,567,489

 

46,087,489

 

924,872

 

2,520,000

 

44,492,361

 

47,012,361

 

          (5,285,560)

 

1999

 

2/23/2018

Cottonwood
   Creek

 

UT

 

9,337,000

 

3,026,000

 

12,327,209

 

15,353,209

 

596,246

 

3,026,000

 

12,923,455

 

15,949,455

 

          (1,906,621)

 

1982

 

2/23/2018

Charleston

 

UT

 

8,859,000

 

763,000

 

11,533,180

 

12,296,180

 

239,397

 

763,000

 

11,772,577

 

12,535,577

 

          (1,593,760)

 

2005

 

2/23/2018

Courtyard

 

OR

 

63,200,000

 

5,696,000

 

77,657,563

 

83,353,563

 

12,974,807

 

5,696,000

 

90,632,370

 

96,328,370

 

          (9,320,693)

 

1992-2019

 

8/31/2018

Total

 

 

 

$163,105,000

 

$20,688,000

 

$234,626,441

 

$255,314,441

 

$15,725,817

 

$20,688,000

 

$250,352,258

 

$271,040,258

(1)

$(32,515,175)

 

 

 

 

 

(1)
The aggregate cost of real estate for United States federal income tax purposes is $305,139,396.
(2)
Building and improvements include land improvements and furniture, fixtures and equipment.
(3)
Amounts include property held for sale.

STRATEGIC STUDENT & SENIOR HOUSING TRUST, INC. AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2021, 2020 and 2019

Activity in real estate facilities during 2021, 2020 and 2019 was as follows:

 

 

 

2021

 

2020

 

2019

 

Real estate facilities

 

 

 

 

 

 

 

Balance at beginning of year

 

$

270,002,163

 

$

268,740,745

 

$

256,042,603

 

Facility acquisitions

 

 

—

 

 

—

 

 

—

 

Additions - Student

 

 

203,195

 

 

187,673

 

 

274,161

 

Additions - Senior

 

 

878,873

 

 

1,073,745

 

 

12,423,981

 

Real estate reclassified to held for sale

 

 

(45,049,915

)

 

—

 

 

—

 

Balance at end of year

 

$

226,034,316

 

$

270,002,163

 

$

268,740,745

 

Accumulated depreciation

 

 

 

 

 

 

 

Balance at beginning of year

 

$

(23,890,898

)

$

(15,243,833

)

$

(7,153,132

)

Depreciation expense

 

 

(8,674,660

)

 

(8,647,065

)

 

(8,090,701

)

Accumulated depreciation reclassified to held for sale

 

 

6,495,528

 

 

—

 

 

—

 

Balance at end of year

 

$

(26,070,030

)

$

(23,890,898

)

$

(15,243,833

)

Construction in process

 

 

 

 

 

 

 

Balance at beginning of year

 

$

103,413

 

$

198,222

 

$

2,333,331

 

Additions

 

 

1,060,207

 

 

1,166,609

 

 

10,563,033

 

Assets placed into service

 

 

(1,082,068

)

 

(1,261,418

)

 

(12,698,142

)

Balance at end of year

 

$

81,552

 

$

103,413

 

$

198,222

 

Real estate held for sale, net

 

$

38,554,387

 

$

-

 

$

-

 

Real estate held for investment, net

 

$

200,045,838

 

$

246,214,678

 

$

253,695,134