
SAUL CENTERS, INC. Real Estate and Accumulated Depreciation December 31, 2020 (Dollars in Thousands)
			Costs																		Buildings
			Capitalized		Basis at Close of Period																and
	Initial Basis		Subsequent to Acquisition		Land		Buildings and Improvements		Construction in Progress		Total		Accumulated Depreciation		Book Value		Related Debt		Date of Construction	Date Acquired	Improvements Depreciable Lives in Years
Shopping Centers
Ashbrook Marketplace, Ashburn, VA	$	8,938	$	19,897	$	8,938	$	19,744	$	153	$	28,835	$	453	$	28,382	$	21,922	2019	05/18	50
Ashburn Village, Ashburn, VA	11,431		20,493		6,764		25,138		22		31,924		14,989		16,935		25,253		1994 & 2000-6	3/94	40
Ashland Square Phase I, Dumfries, VA	1,178		5,298		1,178		5,298		—		6,476		2,438		4,038		—		2007, 2013	12/04	20 & 50
Beacon Center, Alexandria, VA	24,161		18,485		22,691		19,955		—		42,646		15,823		26,823		34,223		1960 & 1974	1/72 , 11/16	40 & 50
BJ’s Wholesale Club, Alexandria, VA	22,623		—		22,623		—		—		22,623		—		22,623		10,018			3/08	—
Boca Valley Plaza, Boca Raton, FL	16,720		2,614		5,735		13,599		—		19,334		5,681		13,653		—			2/04	40
Boulevard, Fairfax, VA	4,883		4,709		3,687		5,905		—		9,592		3,466		6,126		15,191		1969, 1999 & 2009	4/94	40
Briggs Chaney MarketPlace, Silver Spring, MD	27,037		4,711		9,789		21,959		—		31,748		9,966		21,782		—			4/04	40
Broadlands Village, Ashburn, VA	5,316		35,823		5,300		35,826		13		41,139		13,811		27,328		30,467		2002-3, 2004 & 2006	3/02	40 & 50
Burtonsville Town Square, Burtonsville, MD	74,212		6,261		28,401		51,821		251		80,473		5,184		75,289		35,836		2010	1/17	20 & 45
Countryside Marketplace, Sterling, VA	28,912		4,156		7,666		25,402		—		33,068		11,364		21,704		—			2/04	40
Cranberry Square, Westminster, MD	31,578		692		6,700		25,570		—		32,270		6,166		26,104		15,290			9/11	40
Cruse MarketPlace, Cumming, GA	12,226		688		3,901		9,013		—		12,914		3,914		9,000		—			3/04	40
Flagship Center, Rockville, MD	160		9		169		—		—		169		—		169		—		1972	1/72	—
French Market, Oklahoma City, OK	5,781		15,984		1,118		20,647		—		21,765		13,133		8,632		—		1972 & 1998	3/74	50
Germantown, Germantown, MD	2,034		566		2,034		566		—		2,600		455		2,145		—		1990	34,208	40
The Glen, Woodbridge, VA	12,918		8,466		5,300		16,084		—		21,384		10,659		10,725		21,933		1993 & 2005	6/94	40
Great Falls Center, Great Falls, VA	41,750		3,203		14,766		30,187		—		44,953		10,378		34,575		9,788			3/08	40
Hampshire Langley, Takoma, MD	3,159		3,368		1,892		4,635		—		6,527		4,008		2,519		13,480		1960	1/72	40
Hunt Club Corners, Apopka, FL	12,584		4,519		4,822		12,281		—		17,103		5,250		11,853		5,109			6/06, 12/12	40
Jamestown Place, Altamonte Springs, FL	14,055		2,245		4,455		11,845		—		16,300		4,694		11,606		6,110			11/05	40
Kentlands Square I, Gaithersburg, MD	14,379		2,996		5,006		12,369		—		17,375		4,474		12,901		22,012		2002	9/02	40
Kentlands Square II, Gaithersburg, MD	76,723		2,774		23,133		56,364		—		79,497		15,220		64,277		32,585			9/11, 9/13	40
Kentlands Place, Gaithersburg, MD	1,425		7,404		1,425		7,404		—		8,829		4,479		4,350		7,734		2005	1/04	50
Lansdowne Town Center, Leesburg, VA	6,545		43,227		6,546		43,220		6		49,772		17,708		32,064		29,657		2006	11/02	50
Leesburg Pike Plaza, Baileys Crossroads, VA	2,418		6,294		1,132		7,580		—		8,712		6,266		2,446		13,836		1965	2/66	40
Lumberton Plaza, Lumberton, NJ	4,400		11,612		950		15,041		21		16,012		13,709		2,303		—		1975	12/75	40
Metro Pike Center, Rockville, MD	33,123		4,832		26,064		7,944		3,947		37,955		2,046		35,909		—			12/10	40
Shops at Monocacy, Frederick, MD	9,541		14,385		9,260		14,666		—		23,926		6,643		17,283		27,836		2003-4	11/03	50
Northrock, Warrenton, VA	12,686		15,428		12,686		15,422		6		28,114		5,386		22,728		13,626		2009	01/08	50
Olde Forte Village, Ft. Washington, MD	15,933		6,795		5,409		17,319		—		22,728		8,646		14,082		21,204		2003-4	07/03	40
Olney, Olney, MD	4,963		2,623		3,079		4,507		—		7,586		3,487		4,099		12,125		1972	11/75	40
Orchard Park, Dunwoody, GA	19,377		1,553		7,751		13,179		—		20,930		4,457		16,473		9,136			7/07	40
Palm Springs Center, Altamonte Springs, FL	18,365		2,029		5,739		14,655		—		20,394		6,088		14,306		—			3/05	40
Ravenwood, Baltimore, MD	1,245		4,256		703		4,798		—		5,501		3,435		2,066		13,095		1959 & 2006	1/72	40
11503 Rockville Pike/5541 Nicholson Lane, Rockville, MD	26,561		24		22,113		4,472		—		26,585		1,146		25,439		—			10/10, 12/12	40
1500/1580/1582/1584 Rockville Pike, Rockville, MD	51,149		2,750		43,863		7,490		2,546		53,899		6,677		47,222		—			12/12, 1/14, 4/14, 12/14	5, 10, 5, 4
Seabreeze Plaza, Palm Harbor, FL	24,526		2,502		8,665		18,363		—		27,028		7,323		19,705		14,469			11/05	40
Market Place at Sea Colony, Bethany Beach, DE	2,920		261		1,147		2,034		—		3,181		674		2,507		—			3/08	40
Seven Corners, Falls Church, VA	4,848		45,770		4,929		45,689		—		50,618		32,078		18,540		58,607		1956 & 1997	26,846	40
Severna Park Marketplace, Severna Park, MD	63,254		526		12,700		51,080		—		63,780		11,856		51,924		28,480			9/11	40
Shops at Fairfax, Fairfax, VA	2,708		11,062		992		12,778		—		13,770		8,939		4,831		10,127		1975 & 1999	6/75	50
Smallwood Village Center, Waldorf, MD	17,819		8,345		6,402		19,762		—		26,164		9,655		16,509		—			1/06	40
Southdale, Glen Burnie, MD	18,895		25,098		15,254		28,739		—		43,993		23,105		20,888		—		1962 & 1986	1/72 , 11/16	40
Southside Plaza, Richmond, VA	6,728		11,381		1,878		16,231		—		18,109		13,105		5,004		—		1958	1/72	40
South Dekalb Plaza, Atlanta, GA	2,474		4,563		703		6,334		—		7,037		5,228		1,809		—		1970	2/76	40
Thruway, Winston-Salem, NC	7,848		26,569		7,693		26,693		31		34,417		19,638		14,779		—		1955 & 1965	5/72	40
Village Center, Centreville, VA	16,502		2,636		7,851		11,287		—		19,138		7,761		11,377		12,061		1990	34,208	40
Westview Village, Frederick, MD	6,047		25,265		6,047		25,265		—		31,312		10,448		20,864		—		2009	11/07 , 02/15	50
White Oak, Silver Spring, MD	6,277		6,020		4,649		7,446		202		12,297		6,307		5,990		21,704		1958 & 1967	1/72	40
Other Buildings / Improvements	—		182		—		182		—		182		102		80		—
Total Shopping Centers	841,335		461,349		421,698		873,788		7,198		1,302,684		407,918		894,766		592,914

Mixed-Use Properties
Avenel Business Park, Gaithersburg, MD	21,459		33,526		3,756		51,229		—		54,985		40,108		14,877		25,224		1984, 1986,1990, 1998 & 2000	12/84, 8/85, 2/86, 4/98 & 10/2000	35 & 40
Clarendon Center, Arlington, VA (1)	12,753		186,314		16,287		182,780		—		199,067		51,725		147,342		94,712		2010	7/73, 1/96 & 4/02	50
Park Van Ness, Washington, DC	2,242		91,715		2,242		91,715		—		93,957		13,739		80,218		66,420		2016	7/73, 2/11	50
601 Pennsylvania Ave., Washington, DC	5,479		69,328		5,667		69,140		—		74,807		59,413		15,394		—		1986	26846	35
The Waycroft, Arlington, VA	52,067		225,226		52,025		216,617		8,651		277,293		4,722		272,571		146,083		2017	8/14, 12/14, 9/15, 8/16,	50
Washington Square, Alexandria, VA	2,034		57,078		544		58,568		—		59,112		30,081		29,031		55,398		1952 & 2000	26,846	50

Total Mixed-Use Properties	96,034		663,187		80,521		670,049		8,651		759,221		199,788		559,433		387,837

Development Land

Ashland Square Phase II, Manassas, VA	5,292		4,642		7,029		—		2,905		9,934		—		9,934		—			12/04
New Market, New Market, MD	2,088		146		2,234		—		—		2,234		—		2,234		—			9/05
Hampden House (formerly 7316 Wisconsin Avenue), Bethesda, MD	39,641		11,082				—		50,723		50,723		—		50,723		—			10/18, 12/18
Total Development Land	47,021		15,870		9,263		—		53,628		62,891		—		62,891		—
Total	$	984,390	$	1,140,406	$	511,482	$	1,543,837	$	69,477	$	2,124,796	$	607,706	$	1,517,090	$	980,751