XML 48 R28.htm IDEA: XBRL DOCUMENT

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2022


			Initial Cost to Company						Amount at Which Carried at December 31, 2022
Description and Location	Encumbrances		Land		Buildings & Improvements		Increase (Decrease) in Net Investments		Land		Buildings & Improvements		Total		Accumulated Depreciation		Date of Acquisition (a) Construction (c)		Life on which Depreciation in Latest Statement of Operations is Compared
Core Portfolio:
Crescent Plaza Brockton, MA		—		1,147		7,425		3,504		1,147		10,929		12,076		9,405	1993	(a)	40 years
New Loudon Center Latham, NY		—		505		4,161		16,346		505		20,507		21,012		17,230	1993	(a)	40 years
Mark Plaza Edwardsville, PA		—		—		3,396		—		—		3,396		3,396		3,153	1993	(c)	40 years
Plaza 422 Lebanon, PA		—		190		3,004		2,809		190		5,813		6,003		5,370	1993	(c)	40 years
Route 6 Mall Honesdale, PA		—		1,664		—		12,897		1,664		12,897		14,561		11,509	1994	(c)	40 years
Abington Towne Center Abington, PA		—		799		3,197		4,227		799		7,424		8,223		4,898	1998	(a)	40 years
Bloomfield Town Square Bloomfield Hills, MI		—		3,207		13,774		29,476		3,207		43,250		46,457		28,386	1998	(a)	40 years
Elmwood Park Shopping Center Elmwood Park, NJ		—		3,248		12,992		21,246		3,798		33,688		37,486		22,446	1998	(a)	40 years
Merrillville Plaza Hobart, IN		—		4,288		17,152		10,646		4,288		27,798		32,086		16,271	1998	(a)	40 years
Marketplace of Absecon Absecon, NJ		—		2,573		10,294		5,796		2,577		16,086		18,663		10,495	1998	(a)	40 years
239 Greenwich Avenue Greenwich, CT		26,000		1,817		15,846		2,892		1,817		18,738		20,555		10,158	1998	(a)	40 years
Hobson West Plaza Naperville, IL		—		1,793		7,172		5,637		1,793		12,809		14,602		7,448	1998	(a)	40 years
Village Commons Shopping Center Smithtown, NY		—		3,229		12,917		5,628		3,229		18,545		21,774		12,175	1998	(a)	40 years
Town Line Plaza Rocky Hill, CT		—		878		3,510		8,286		907		11,767		12,674		9,872	1998	(a)	40 years
Branch Shopping Center Smithtown, NY		—		3,156		12,545		17,445		3,401		29,745		33,146		19,135	1998	(a)	40 years
Methuen Shopping Center Methuen, MA		—		956		3,826		1,856		961		5,677		6,638		3,453	1998	(a)	40 years
The Gateway Shopping Center South Burlington, VT		—		1,273		5,091		12,889		1,273		17,980		19,253		12,394	1999	(a)	40 years
Mad River Station Dayton, OH		—		2,350		9,404		2,352		2,350		11,756		14,106		7,460	1999	(a)	40 years
Brandywine Holdings Wilmington, DE		—		5,063		15,252		2,815		5,201		17,929		23,130		8,819	2003	(a)	40 years
Bartow Avenue Bronx, NY		—		1,691		5,803		1,489		1,691		7,292		8,983		3,999	2005	(c)	40 years
Amboy Road Staten Island, NY		—		—		11,909		3,279		—		15,188		15,188		10,563	2005	(a)	40 years
Chestnut Hill Philadelphia, PA		—		8,289		5,691		4,802		8,289		10,493		18,782		6,201	2006	(a)	40 years
2914 Third Avenue Bronx, NY		—		11,108		8,038		5,586		11,855		12,877		24,732		4,530	2006	(a)	40 years
West 54th Street Manhattan, NY		—		16,699		18,704		1,515		16,699		20,219		36,918		8,471	2007	(a)	40 years
5-7 East 17th Street Manhattan, NY		—		3,048		7,281		6,301		3,048		13,582		16,630		8,877	2008	(a)	40 years
651-671 W Diversey Chicago, IL		—		8,576		17,256		233		8,576		17,489		26,065		5,005	2011	(a)	40 years
15 Mercer Street Manhattan, NY		—		1,887		2,483		6		1,887		2,489		4,376		714	2011	(a)	40 years
4401 White Plains Bronx, NY		—		1,581		5,054		—		1,581		5,054		6,635		1,432	2011	(a)	40 years
56 E. Walton Chicago, IL		—		994		6,126		3,016		994		9,142		10,136		1,162	2011	(a)	40 years
841 W. Armitage Chicago, IL		—		728		1,989		422		728		2,411		3,139		907	2011	(a)	40 years
2731 N. Clark Chicago, IL		—		557		1,839		32		557		1,871		2,428		550	2011	(a)	40 years
2140 N. Clybourn Chicago, IL		—		306		788		54		306		842		1,148		235	2011	(a)	40 years
853 W. Armitage Chicago, IL		—		557		1,946		508		557		2,454		3,011		954	2011	(a)	40 years
2299 N. Clybourn Avenue Chicago, IL		—		177		484		—		177		484		661		138	2011	(a)	40 years
843-45 W. Armitage Chicago, IL		—		731		2,730		294		731		3,024		3,755		871	2012	(a)	40 years
1525 W. Belmont Avenue Chicago, IL		—		1,480		3,338		887		1,480		4,225		5,705		1,307	2012	(a)	40 years
2206-08 N. Halsted Chicago, IL		—		1,183		3,540		359		1,183		3,899		5,082		1,302	2012	(a)	40 years
2633 N. Halsted Chicago, IL		—		960		4,096		359		998		4,417		5,415		1,209	2012	(a)	40 years
50-54 E. Walton Chicago, IL		—		2,848		12,694		642		2,848		13,336		16,184		3,732	2012	(a)	40 years
662 W. Diversey Chicago, IL		—		1,713		1,603		10		1,713		1,613		3,326		406	2012	(a)	40 years


			Initial Cost to Company							Amount at Which Carried at December 31, 2022
Description and Location	Encumbrances		Land		Buildings & Improvements		Increase (Decrease) in Net Investments			Land		Buildings & Improvements		Total		Accumulated Depreciation		Date of Acquisition (a) Construction (c)		Life on which Depreciation in Latest Statement of Operations is Compared
837 W. Armitage Chicago, IL		—		780		1,758		151			780		1,909		2,689		585	2012	(a)	40 years
823 W. Armitage Chicago, IL		—		717		1,149		95			717		1,244		1,961		329	2012	(a)	40 years
851 W. Armitage Chicago, IL		—		545		209		139			545		348		893		165	2012	(a)	40 years
1240 W. Belmont Avenue Chicago, IL		—		2,137		1,589		1,357			2,137		2,946		5,083		866	2012	(a)	40 years
21 E. Chestnut Chicago, IL		—		1,318		8,468		44			1,318		8,512		9,830		2,146	2012	(a)	40 years
819 W. Armitage Chicago, IL		—		790		1,266		594			790		1,860		2,650		463	2012	(a)	40 years
1520 Milwaukee Avenue Chicago, IL		—		2,110		1,306		290			2,110		1,596		3,706		489	2012	(a)	40 years
Rhode Island Place Shopping Center Washington, D.C.		—		7,458		15,968		2,542			7,458		18,510		25,968		5,969	2012	(a)	40 years
930 Rush Street Chicago, IL		—		4,933		14,587		—			4,933		14,587		19,520		3,920	2012	(a)	40 years
28 Jericho Turnpike Westbury, NY		—		6,220		24,416		46			6,220		24,462		30,682		6,780	2012	(a)	40 years
181 Main Street Westport, CT		—		1,908		12,158		719			1,908		12,877		14,785		3,376	2012	(a)	40 years
83 Spring Street Manhattan, NY		—		1,754		9,200		33			1,754		9,233		10,987		2,415	2012	(a)	40 years
179-53 & 1801-03 Connecticut Avenue Washington, D.C.		—		11,690		10,135		1,874			11,690		12,009		23,699		3,269	2012	(a)	40 years
639 West Diversey Chicago, IL		—		4,429		6,102		1,089			4,429		7,191		11,620		2,199	2012	(a)	40 years
664 North Michigan Chicago, IL		—		15,240		65,331		319			15,240		65,650		80,890		16,139	2013	(a)	40 years
8-12 E. Walton Chicago, IL		—		5,398		15,601		977			5,398		16,578		21,976		4,455	2013	(a)	40 years
3200-3204 M Street Washington, DC		—		6,899		4,249		168			6,899		4,417		11,316		1,177	2013	(a)	40 years
868 Broadway Manhattan, NY		—		3,519		9,247		5			3,519		9,252		12,771		2,100	2013	(a)	40 years
313-315 Bowery Manhattan, NY		—		—		5,516		—			—		5,516		5,516		2,009	2013	(a)	40 years
120 West Broadway Manhattan, NY		—		—		32,819		2,097			—		34,916		34,916		5,277	2013	(a)	40 years
11 E. Walton Chicago, IL		—		16,744		28,346		1,444			16,744		29,790		46,534		6,868	2014	(a)	40 years
61 Main Street Westport, CT		—		4,578		2,645		1,838			4,578		4,483		9,061		1,025	2014	(a)	40 years
865 W. North Avenue Chicago, IL		—		1,893		11,594		233			1,893		11,827		13,720		2,573	2014	(a)	40 years
152-154 Spring St. Manhattan, NY		—		8,544		27,001		347			8,544		27,348		35,892		5,985	2014	(a)	40 years
2520 Flatbush Ave Brooklyn, NY		—		6,613		10,419		313			6,613		10,732		17,345		2,413	2014	(a)	40 years
252-256 Greenwich Avenue Greenwich, CT		—		10,175		12,641		1,172			10,175		13,813		23,988		3,295	2014	(a)	40 years
Bedford Green Bedford Hills, NY		—		12,425		32,730		4,690			13,765		36,080		49,845		8,479	2014	(a)	40 years
131-135 Prince Street Manhattan, NY		—		—		57,536		1,126			—		58,662		58,662		23,530	2014	(a)	40 years
Shops at Grand Ave Queens, NY		—		20,264		33,131		1,966			20,264		35,097		55,361		7,502	2014	(a)	40 years
201 Needham Street Newton, MA		—		4,550		4,459		110			4,550		4,569		9,119		1,000	2014	(a)	40 years
City Center San Francisco, CA		—		36,063		109,098		5,956			26,386		124,731		151,117		24,771	2015	(a)	40 years
163 Highland Avenue Needham, MA		7,689		12,679		11,213		(107	)		12,529		11,256		23,785		2,355	2015	(a)	40 years
Roosevelt Galleria Chicago, IL		—		4,838		14,574		559			4,838		15,133		19,971		2,717	2015	(a)	40 years
Route 202 Shopping Center Wilmington, DE		—		—		6,346		705			—		7,051		7,051		1,811	2015	(a)	40 years
991 Madison Avenue Manhattan, NY		—		—		76,965		(75,370	)		—		1,595		1,595		631	2016	(a)	40 years
165 Newbury Street Boston, MA		—		1,918		3,980		—			1,918		3,980		5,898		663	2016	(a)	40 years
Concord & Milwaukee Chicago, IL		2,394		2,739		2,746		486			2,739		3,232		5,971		636	2016	(a)	40 years
State & Washington Chicago, IL		22,051		3,907		70,943		6,225			3,907		77,168		81,075		13,094	2016	(a)	40 years
151 N. State Street Chicago, IL		12,570		1,941		25,529		—			1,941		25,529		27,470		4,095	2016	(a)	40 years
North & Kingsbury Chicago, IL		10,891		18,731		16,292		3,066			18,731		19,358		38,089		3,068	2016	(a)	40 years
Sullivan Center Chicago, IL		50,000		13,443		137,327		1,590			13,443		138,917		152,360		22,243	2016	(a)	40 years
California & Armitage Chicago, IL		2,243		6,770		2,292		98			6,770		2,390		9,160		405	2016	(a)	40 years


			Initial Cost to Company							Amount at Which Carried at December 31, 2022
Description and Location	Encumbrances		Land		Buildings & Improvements		Increase (Decrease) in Net Investments			Land		Buildings & Improvements		Total		Accumulated Depreciation		Date of Acquisition (a) Construction (c)		Life on which Depreciation in Latest Statement of Operations is Compared
555 9th Street San Francisco, CA		60,000		75,591		73,268		869			75,591		74,137		149,728		11,468	2016	(a)	40 years
Market Square Wilmington, DE		—		8,100		31,221		626			8,100		31,847		39,947		4,445	2017	(a)	40 years
613-623 W. Diversey Chicago, IL		—		10,061		2,773		11,717			10,061		14,490		24,551		4,303	2018	(c)	40 years
51 Greene Street Manhattan, NY		—		4,488		8,992		100			4,488		9,092		13,580		870	2019	(a)	40 years
53 Greene Street Manhattan, NY		—		3,605		12,177		2			3,605		12,179		15,784		1,142	2019	(a)	40 years
41 Greene Street Manhattan, NY		—		6,276		9,582		—			6,276		9,582		15,858		858	2019	(a)	40 years
47 Greene Street Manhattan, NY		—		6,265		16,758		6			6,265		16,764		23,029		1,432	2019	(a)	40 years
849 W Armitage Chicago, IL		—		837		2,731		—			837		2,731		3,568		239	2019	(a)	40 years
912 W Armitage Chicago, IL		—		982		2,868		183			982		3,051		4,033		267	2019	(a)	40 years
Melrose Place Collection Los Angeles, CA		—		20,490		26,788		—			20,490		26,788		47,278		2,128	2019	(a)	40 years
45 Greene Street Manhattan, NY		—		2,903		8,487		288			2,903		8,775		11,678		713	2019	(a)	40 years
565 Broadway Manhattan, NY		—		—		22,491		1,123			—		23,614		23,614		1,747	2019	(a)	40 years
907 W Armitage Chicago, IL		—		700		2,081		—			700		2,081		2,781		175	2019	(a)	40 years
37 Greene Street Manhattan, NY		—		6,721		9,119		—			6,721		9,119		15,840		684	2020	(a)	40 years
917 W Armitage Chicago, IL		—		901		2,368		—			901		2,368		3,269		187	2020	(a)	40 years
Brandywine Town Center Wilmington, DE		—		15,632		101,861		7,855			15,632		109,716		125,348		8,421	2020	(a)	40 years
1324 14th Street Washington, D.C.		—		728		3,044		—			728		3,044		3,772		76	2021	(a)	40 years
1526 14th Street Washington, D.C.		—		1,377		6,964		—			1,377		6,964		8,341		174	2021	(a)	40 years
1529 14th Street Washington, D.C.		—		1,485		10,411		—			1,485		10,411		11,896		260	2021	(a)	40 years
121 Spring St Manhattan, NY		—		5,380		31,707		—			5,380		31,707		37,087		793	2022	(a)	40 years
8833 Beverly Blvd West Hollywood, CA		—		14,423		8,314		—			14,423		8,314		22,737		174	2022	(a)	40 years
Williamsburg Portfolio Brooklyn, NY		—		31,500		60,720		1,856			31,500		62,576		94,076		1,280	2022	(a)	40 years
Henderson Portfolio Dallas, TX		—		27,086		41,823		255			27,086		42,078		69,164		918	2022	(a)	40 years
Fund II:
City Point Brooklyn, NY		133,655		—		100,316		529,026			—		629,342		629,342		115,052	2007	(c)	40 years
Fund III:
640 Broadway Manhattan, NY		35,970		27,831		27,291		572			27,831		27,863		55,694		639	2012	(a)	40 years
Fund IV:
210 Bowery Manhattan, NY		—		1,875		5,625		(6,490	)		518		492		1,010		192	2012	(c)	40 years
27 E. 61st Street Manhattan, NY		15,002		4,813		14,438		1,658			3,523		17,386		20,909		2,707	2014	(c)	40 years
17 E. 71st Street Manhattan, NY		-		7,391		20,176		338			7,391		20,514		27,905		4,356	2014	(a)	40 years
1035 Third Avenue Manhattan, NY		7,473		12,759		37,431		5,842			14,100		41,932		56,032		9,494	2015	(a)	40 years
801 Madison Avenue Manhattan, NY		16,725		4,178		28,470		(4,885	)		2,922		24,841		27,763		3,842	2015	(c)	40 years
2208-2216 Fillmore Street San Francisco, CA		5,397		3,027		6,376		205			3,027		6,581		9,608		1,192	2015	(a)	40 years
2207 Fillmore Street San Francisco, CA		1,120		1,498		1,735		125			1,498		1,860		3,358		355	2015	(a)	40 years
146 Geary St. San Francisco, CA		19,338		9,500		28,500		(12,896	)		5,243		19,861		25,104		1,608	2015	(a)	40 years
1964 Union Street San Francisco, CA		1,381		563		1,688		2,071			563		3,759		4,322		499	2016	(c)	40 years
Restaurants at Fort Point Boston, MA		5,855		1,041		10,905		182			1,041		11,087		12,128		1,967	2016	(a)	40 years
717 N. Michigan Chicago, IL		5,796		8,675		4,235		(2,744	)		6,847		3,319		10,166		104	2016	(a)	40 years
18 E. Broughton St. Savannah, GA		1,515		609		1,513		57			609		1,570		2,179		168	2018	(a)	40 years
20 E. Broughton St. Savannah, GA		989		588		937		12			588		949		1,537		102	2018	(a)	40 years
25 E. Broughton St. Savannah, GA		3,117		1,324		2,459		364			1,324		2,823		4,147		392	2018	(a)	40 years
109 W. Broughton St. Savannah, GA		6,341		2,343		6,560		351			2,343		6,911		9,254		752	2018	(a)	40 years
204-206 W. Broughton St. Savannah, GA		892		547		439		47			547		486		1,033		61	2018	(a)	40 years


				Initial Cost to Company						Amount at Which Carried at December 31, 2022
Description and Location	Encumbrances			Land		Buildings & Improvements		Increase (Decrease) in Net Investments		Land		Buildings & Improvements		Total		Accumulated Depreciation		Date of Acquisition (a) Construction (c)		Life on which Depreciation in Latest Statement of Operations is Compared
216-218 W. Broughton St. Savannah, GA		2,612			1,160		2,736		2,031		1,160		4,767		5,927		631	2018	(a)	40 years
220 W. Broughton St. Savannah, GA		1,827			619		1,799		985		619		2,784		3,403		387	2018	(a)	40 years
223 W. Broughton St. Savannah, GA		892			465		688		33		465		721		1,186		77	2018	(a)	40 years
226-228 W. Broughton St. Savannah, GA		-			660		1,900		34		660		1,934		2,594		210	2018	(a)	40 years
309/311 W. Broughton St. Savannah, GA		2,300			1,160		2,695		30		1,160		2,725		3,885		287	2018	(a)	40 years
230-240 W. Broughton St. Savannah, GA		4,955			2,185		9,597		6		2,185		9,603		11,788		621	2020	(a)	40 years
102 E. Broughton St. Savannah, GA		—			—		514		—		—		514		514		33	2020	(a)	40 years
Fund V:
Plaza Santa Fe Santa Fe, NM		22,893			—		28,214		1,402		—		29,616		29,616		4,657	2017	(a)	40 years
Hickory Ridge Hickory, NC		28,351			7,852		29,998		4,877		7,852		34,875		42,727		5,746	2017	(a)	40 years
New Towne Plaza Canton, MI		14,716			5,040		17,391		587		4,719		18,299		23,018		2,910	2017	(a)	40 years
Fairlane Green Allen Park, MI		32,877			18,121		37,143		3,174		18,121		40,317		58,438		5,424	2017	(a)	40 years
Trussville Promenade Birmingham, AL		28,831			7,587		34,285		50		7,587		34,335		41,922		4,518	2018	(a)	40 years
Elk Grove Commons Elk Grove, CA		40,990			6,204		48,008		1,766		6,204		49,774		55,978		5,790	2018	(a)	40 years
Hiram Pavilion Hiram, GA		28,341			13,029		25,446		557		13,029		26,003		39,032		3,537	2018	(a)	40 years
Palm Coast Landing Palm Coast, FL		26,409			7,066		27,299		433		7,066		27,732		34,798		3,134	2019	(a)	40 years
Lincoln Commons Lincoln, RI		38,722			14,429		34,417		4,876		14,429		39,293		53,722		3,994	2019	(a)	40 years
Landstown Commons Virginia Beach, VA		60,743			10,222		69,005		4,116		10,222		73,121		83,343		6,647	2019	(a)	40 years
Canton Marketplace Canton, GA		31,801			11,883		34,902		1,187		11,883		36,089		47,972		1,350	2021	(a)	40 years
Monroe Marketplace Selinsgrove, PA		29,150			8,755		35,452		406		8,755		35,858		44,613		1,482	2021	(a)	40 years
Midstate Mall East Brunswick, NJ		42,400			13,062		43,290		463		13,062		43,753		56,815		1,543	2021	(a)	40 years

Real Estate Under Development		42,703			95,588		31,205		57,809		95,588		89,014		184,602		—
Debt of Assets Held for Sale		—			—		—		—		—		—		—		—
Unamortized Loan Costs		(7,621	)		—		—		—		—		—		—		—
Unamortized Premium		343			—		—		—		—		—		—		—
Total	$	928,639		$	929,089	$	2,534,857	$	789,064	$	913,390	$	3,339,620	$	4,253,010	$	725,143

Notes:

Depreciation on buildings and improvements reflected in the consolidated statements of operations is calculated over the estimated useful life of the assets as follows: Buildings at 40 years and improvements at the shorter of lease term or useful life.

The aggregate gross cost of property included above for Federal income tax purposes was approximately $4.4 billion as of December 31, 2022.

The following table reconciles the activity for real estate properties from January 1, 2020 to December 31, 2022 (in thousands):


	Year Ended December 31,
	2022			2021			2020

Balance at beginning of year	$	4,071,607		$	4,011,326		$	3,960,411
Improvements and other		50,696			32,070			71,409
Property acquisitions		234,557			172,558			19,109
Property dispositions or held for sale assets		(125,933	)		(134,422	)		(19,659	)
Right-of-use assets - finance leases obtained and reclassified		—			—			(76,965	)
Capital lease reclassified as Right-of-use assets - finance lease		—			—			—
Consolidation of previously unconsolidated investments		55,394			—			129,863
Impairment charges		(33,311	)		(9,925	)		(72,842	)
Balance at end of year	$	4,253,010		$	4,071,607		$	4,011,326

The following table reconciles accumulated depreciation from January 1, 2020 to December 31, 2022 (in thousands):


	Year Ended December 31,
	2022			2021			2020

Balance at beginning of year	$	648,461		$	573,364		$	478,991
Depreciation related to real estate		98,414			90,456			101,849
Property dispositions or held for sale assets		(21,732	)		(15,359	)		(939	)
Right-of-use assets - finance leases reclassified		—			—			(6,537	)
Balance at end of year	$	725,143		$	648,461		$	573,364