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Schedule III - Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2019
Real Estate And Accumulated Depreciation Disclosure [Abstract]  
Schedule III - Real Estate and Accumulated Depreciation

BROAD STREET REALTY, INC. AND SUBSIDIARIES

Schedule III

Real Estate and Accumulated Depreciation

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

Initial Cost to Company

 

 

Gross Amount at Which Carried at Close of Period

 

 

 

 

 

 

 

 

 

Property Name

 

Location

 

Property Type

 

Encumbrances

 

 

Land

 

 

Building and improvements and intangible lease assets and liabilities

 

 

Cost Capitalized Subsequent to Acquisition

 

 

Land

 

 

Building and improvements and intangible lease assets and liabilities

 

 

Total(1)

 

 

Accumulated Depreciation(1) (2)

 

 

Date of Construction/

Renovation

 

Date Acquired

Avondale Shops

 

Washington, D.C.

 

Shopping Center

 

$

4,900

 

 

$

1,775

 

 

$

6,591

 

 

$

-

 

 

$

1,775

 

 

$

6,591

 

 

$

8,366

 

 

$

(5

)

 

2010

 

2019

Brookhill Azalea Shopping Center

 

Richmond, VA

 

Shopping Center

 

 

9,650

 

 

 

1,344

 

 

 

15,554

 

 

 

-

 

 

 

1,344

 

 

 

15,554

 

 

 

16,898

 

 

 

(3

)

 

2012

 

2019

Coral Hills Shopping Center

 

Capitol Heights, MD

 

Shopping Center

 

 

10,504

 

 

 

2,186

 

 

 

14,317

 

 

 

-

 

 

 

2,186

 

 

 

14,317

 

 

 

16,503

 

 

 

(23

)

 

2012

 

2019

Crestview Square

 

Landover Hills, MD

 

Shopping Center

 

 

11,724

 

 

 

2,853

 

 

 

15,717

 

 

 

-

 

 

 

2,853

 

 

 

15,717

 

 

 

18,570

 

 

 

(18

)

 

2012

 

2019

Dekalb Plaza

 

East Norriton, PA

 

Shopping Center

 

 

13,302

 

 

 

7,570

 

 

 

17,470

 

 

 

-

 

 

 

7,570

 

 

 

17,470

 

 

 

25,040

 

 

 

(14

)

 

2015

 

2019

Hollinswood Shopping Center

 

Baltimore, MD

 

Shopping Center

 

 

12,452

 

 

 

5,897

 

 

 

15,025

 

 

 

-

 

 

 

5,897

 

 

 

15,025

 

 

 

20,922

 

 

 

(13

)

 

2018

 

2019

Midtown Colonial

 

Williamsburg, VA

 

Shopping Center

 

 

6,270

 

 

 

3,946

 

 

 

9,970

 

 

 

-

 

 

 

3,946

 

 

 

9,970

 

 

 

13,916

 

 

 

(8

)

 

2018

 

2019

Midtown Lamonticello

 

Williamsburg, VA

 

Shopping Center

 

 

9,707

 

 

 

3,108

 

 

 

12,659

 

 

 

-

 

 

 

3,108

 

 

 

12,659

 

 

 

15,767

 

 

 

(5

)

 

2019

 

2019

Vista Shops at Golden Mile

 

Frederick, MD

 

Shopping Center

 

 

14,544

 

 

 

4,342

 

 

 

10,219

 

 

 

-

 

 

 

4,342

 

 

 

10,219

 

 

 

14,561

 

 

 

(12

)

 

2008

 

2019

West Broad Commons

 

Richmond, VA

 

Shopping Center

 

 

11,489

 

 

 

1,329

 

 

 

18,222

 

 

 

-

 

 

 

1,329

 

 

 

18,222

 

 

 

19,551

 

 

 

(15

)

 

2017

 

2019

Total

 

 

 

 

 

$

104,542

 

 

$

34,350

 

 

$

135,744

 

 

$

-

 

 

$

34,350

 

 

$

135,744

 

 

$

170,094

 

 

$

(116

)

 

 

 

 

 

 


 

(1)

The changes in total real estate and accumulated depreciation for the year ended December 31, 2019 is as follows (in thousands):

 

 

 

 

 

For the year ended December 31, 2019

 

Cost

 

 

 

 

 

 

Balance at beginning of period

 

 

 

$

-

 

Acquisitions

 

 

 

 

170,094

 

Capitalized costs

 

 

 

 

-

 

Balance at end of period

 

 

 

$

170,094

 

 

 

 

 

 

 

 

Accumulated Depreciation

 

 

 

 

 

 

Balance at beginning of period

 

 

 

$

-

 

Depreciation

 

 

 

 

116

 

Balance at end of period

 

 

 

$

116

 

The unaudited aggregate tax value of real estate assets for federal income tax purposes as of December 31, 2019 is estimated to be $90.2 million.

 

 

(2)

The cost of building and improvements is depreciated on a straight-line basis over the estimated useful lives of the buildings and improvements, ranging primarily from 7.5 to 45 years. The cost of intangible lease assets are depreciated on a straight-line basis over the initial term of the related leases, ranging up to 19 years. See note 2 to the consolidated financial statements for information on useful lives used for depreciation and amortization.