Real Estate Facilities and Real Estate Held for Sale

12 Months Ended

Dec. 31, 2021

Real Estate Facilities and Real Estate Held for Sale

Note 3. Real Estate Facilities and Real Estate Held for Sale

The following summarizes the activity in the real estate facilities during the years ended December 31, 2021 and 2020:


Real estate facilities
Balance at December 31, 2019	$	268,740,745
Additions - Student		187,673
Additions - Senior		1,073,745
Balance at December 31, 2020		270,002,163
Additions - Student		203,195
Additions - Senior		878,873
Real estate reclassified to held for sale		(45,049,915	)
Balance at December 31, 2021	$	226,034,316
Accumulated depreciation
Balance at December 31, 2019	$	(15,243,833	)
Depreciation expense		(8,647,065	)
Balance at December 31, 2020		(23,890,898	)
Depreciation expense		(8,674,660	)
Accumulated depreciation reclassified to held for sale		6,495,528
Balance at December 31, 2021	$	(26,070,030	)

Real Estate Held for Sale

The results of operations for the Tallahassee student housing property, which was classified as held for sale as of December 31, 2021, is included in continuing operations on the Company's consolidated statements of operations. For the years ended December 31, 2021, 2020 and 2019, revenues totaling approximately $4.1 million, $3.6 million, and $3.9 million, respectively, are included in "Leasing and related revenues - student". Expenses totaling approximately $1.7 million, $1.7 million, and $1.8 million are included in "Property operating expenses - student" for each of the years ended December 31, 2021, 2020, and 2019, respectively.