SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2019

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

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

Schedule III—Real Estate and Accumulated Depreciation

December 31, 2019

(in thousands)

			Initial Cost				Net Improvements (Write-Offs) Since Acquisition		Gross Amount at Which Carried (2)
Property Name, City and State	Encumbrances		Land		Building and Improvements				Land		Building and Improvements		Total		Acc. Deprec.		Year Built / Renovated	Year of Acquisition
Office
3601 S Congress Avenue
Austin, TX	$	—	$	9,569	$	18,593	$	9,833	$	9,569	$	28,426	$	37,995	$	9,041	1918/2001	2007
1 Kaiser Plaza
Oakland, CA	97,100		9,261		113,619		19,802		9,261		133,421		142,682		44,659		1970/2008	2008
2 Kaiser Plaza Parking Lot
Oakland, CA	—		10,931		110		1,735		10,931		1,845		12,776		117		N/A	2015
11600 Wilshire Boulevard
Los Angeles, CA	—		3,477		18,522		2,304		3,477		20,826		24,303		5,672		1955	2010
11620 Wilshire Boulevard
Los Angeles, CA	—		7,672		51,999		7,242		7,672		59,241		66,913		15,731		1976	2010
4750 Wilshire Boulevard
Los Angeles, CA	—		16,633		28,985		3,897		16,633		32,882		49,515		4,170		1984/2014	2014
Lindblade Media Center
Los Angeles, CA	—		6,342		11,568		24		6,342		11,592		17,934		1,480		1930 & 1957 / 2010	2014
1130 Howard Street
San Francisco, CA	—		8,290		10,480		5		8,290		10,485		18,775		638		1930 / 2016 & 2017	2017
9460 Wilshire Boulevard
Los Angeles, CA	—		52,199		76,730		620		52,199		77,350		129,549		4,644		1959 / 2008	2018
Hotel
Sheraton Grand Hotel
Sacramento, CA	—		3,497		107,447		122		3,497		107,569		111,066		31,158		2001	2008
Sheraton Grand Hotel Parking & Retail
Sacramento, CA	—		6,550		10,996		208		6,550		11,204		17,754		3,245		2001	2008
	$	97,100	$	134,421	$	449,049	$	45,792	$	134,421	$	494,841	$	629,262	$	120,555

(1) These properties collateralize the revolving credit facility, which had a $153,000,000 outstanding balance as of December 31, 2019.

(2) The aggregate gross cost of property included above for federal income tax purposes approximates $661,503,000 (unaudited) as of December 31, 2019.

The following table reconciles our investments in real estate from January 1, 2017 to December 31, 2019:

	Year Ended December 31,
	2019			2018			2017
	(in thousands)
Investments in Real Estate
Balance, beginning of period	$	1,344,636		$	1,228,780		$	2,021,494
Additions:
Improvements	18,388			14,906			26,078
Property acquisitions	—			128,928			18,770
Deductions:
Assets held for sale	—			(24,832		)	—
Asset sales	(659,849		)	—			(815,357		)
Impairment	(69,000		)	—			(13,100		)
Retirements	(4,913		)	(3,146		)	(9,105		)
Balance, end of period	$	629,262		$	1,344,636		$	1,228,780

The following table reconciles the accumulated depreciation from January 1, 2017 to December 31, 2019:

	Year Ended December 31,
	2019			2018			2017
	(in thousands)
Accumulated Depreciation
Balance, beginning of period	$	(303,699	)	$	(271,055	)	$	(414,552	)
Additions: depreciation	(22,209		)	(43,499		)	(49,427		)
Deductions:
Assets held for sale	—			7,709			—
Asset sales	200,440			—			183,819
Retirements	4,913			3,146			9,105
Balance, end of period	$	(120,555	)	$	(303,699	)	$	(271,055	)