XML 52 R28.htm IDEA: XBRL DOCUMENT v3.3.1.900
Schedule III Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III Real Estate and Accumulated Depreciation
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life used to compute depreciation in latest income statement (4)
 
 
 
 
 
 
 
 
Initial Cost
 
Costs Capitalized subsequent to Acquisition
 
Gross Amount carried at December 31, 2015  (3)
 
 
 
 
 
 
 
 
 
Property
 
Location
 
Encumbrances
 
 
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Total
 
Accumulated Depreciation
 
Net
 
Date of Construction
 
Birchall at Ross Bridge
 
Birmingham, AL
 
—

 
 
 
$
2,640

 
$
28,842

 
$
—

 
$
848

 
$
2,640

 
$
29,690

 
$
32,330

 
$
(4,487
)
 
$
27,843

 
2009
 
1 - 40
Colonial Grand at Riverchase Trails
 
Birmingham, AL
 
—

 
 
 
3,761

 
22,079

 
—

 
1,575

 
3,761

 
23,654

 
27,415

 
(2,574
)
 
24,841

 
2010
 
1 - 40
Colonial Village at Trussville
 
Birmingham, AL
 
—

 
 
 
3,402

 
31,813

 
—

 
1,295

 
3,402

 
33,108

 
36,510

 
(3,267
)
 
33,243

 
1996/97
 
1 - 40
Eagle Ridge
 
Birmingham, AL
 
—

 
(1)
 
851

 
7,667

 
—

 
4,376

 
851

 
12,043

 
12,894

 
(7,454
)
 
5,440

 
1986
 
1 - 40
Colonial Grand at Traditions
 
Gulf Shores,AL
 
—

 
 
 
3,211

 
25,162

 
—

 
1,228

 
3,211

 
26,390

 
29,601

 
(2,834
)
 
26,767

 
2007
 
1 - 40
Abbington Place
 
Huntsville, AL
 
—

 
 
 
524

 
4,724

 
—

 
3,047

 
524

 
7,771

 
8,295

 
(4,901
)
 
3,394

 
1987
 
1 - 40
Colonial Grand at Edgewater
 
Huntsville, AL
 
27,722

 
 
 
4,943

 
38,673

 
—

 
3,412

 
4,943

 
42,085

 
47,028

 
(3,792
)
 
43,236

 
1990
 
1 - 40
Paddock Club Huntsville
 
Huntsville, AL
 
—

 
 
 
909

 
10,152

 
830

 
14,197

 
1,739

 
24,349

 
26,088

 
(13,330
)
 
12,758

 
1993
 
1 - 40
Colonial Grand at Madison
 
Madison, AL
 
22,500

 
 
 
3,601

 
28,934

 
—

 
718

 
3,601

 
29,652

 
33,253

 
(3,053
)
 
30,200

 
2000
 
1 - 40
Paddock Club Montgomery
 
Montgomery, AL
 
—

 
 
 
965

 
13,190

 
—

 
2,050

 
965

 
15,240

 
16,205

 
(7,316
)
 
8,889

 
1999
 
1 - 40
Cypress Village
 
Orange Beach, AL
 
—

 
 
 
1,290

 
12,238

 
—

 
468

 
1,290

 
12,706

 
13,996

 
(1,267
)
 
12,729

 
2008
 
1 - 40
Colonial Grand at Liberty Park
 
Vestavia Hills, AL
 
17,823

 
 
 
3,922

 
30,977

 
—

 
2,291

 
3,922

 
33,268

 
37,190

 
(3,279
)
 
33,911

 
2000
 
1 - 40
Edge at Lyon's Gate
 
Phoenix, AZ
 
—

 
 
 
7,901

 
27,182

 
—

 
1,632

 
7,901

 
28,814

 
36,715

 
(7,460
)
 
29,255

 
2007
 
1 - 40
Sky View Ranch
 
Gilbert, AZ
 
—

 
 
 
2,668

 
14,577

 
—

 
1,461

 
2,668

 
16,038

 
18,706

 
(3,737
)
 
14,969

 
2007
 
1 - 40
Talus Ranch
 
Phoenix, AZ
 
—

 
 
 
12,741

 
47,701

 
—

 
2,046

 
12,741

 
49,747

 
62,488

 
(15,984
)
 
46,504

 
2005
 
1 - 40
Colonial Grand at Inverness Commons
 
Mesa, AZ
 
—

 
 
 
4,219

 
26,255

 
—

 
929

 
4,219

 
27,184

 
31,403

 
(2,661
)
 
28,742

 
2001
 
1 - 40
Colonial Grand at Scottsdale
 
Scottsdale, AZ
 
—

 
 
 
3,612

 
20,273

 
—

 
1,344

 
3,612

 
21,617

 
25,229

 
(2,099
)
 
23,130

 
1999
 
1 - 40
Colonial Grand at OldTown Scottsdale
 
Scottsdale, AZ
 
—

 
 
 
7,820

 
51,627

 
—

 
2,664

 
7,820

 
54,291

 
62,111

 
(5,141
)
 
56,970

 
2001
 
1 - 40
SkySong
 
Scottsdale, AZ
 
—

 
 
 
—

 
55,748

 
—

 
296

 
—

 
56,044

 
56,044

 
(834
)
 
55,210

 
2014
 
1 - 40
Calais Forest
 
Little Rock, AR
 
—

 
 
 
1,026

 
9,244

 
—

 
8,401

 
1,026

 
17,645

 
18,671

 
(11,296
)
 
7,375

 
1987
 
1 - 40
Napa Valley
 
Little Rock, AR
 
—

 
 
 
960

 
8,642

 
—

 
5,247

 
960

 
13,889

 
14,849

 
(8,670
)
 
6,179

 
1984
 
1 - 40
Palisades at Chenal Valley
 
Little Rock, AR
 
—

 
 
 
2,560

 
25,234

 
—

 
2,266

 
2,560

 
27,500

 
30,060

 
(3,962
)
 
26,098

 
2006
 
1 - 40
Ridge at Chenal Valley
 
Little Rock, AR
 
—

 
 
 
2,626

 
—

 
—

 
26,917

 
2,626

 
26,917

 
29,543

 
(2,375
)
 
27,168

 
2012
 
1 - 40
Westside Creek I & II
 
Little Rock, AR
 
—

 
 
 
1,271

 
11,463

 
—

 
8,286

 
1,271

 
19,749

 
21,020

 
(11,414
)
 
9,606

 
1984/86
 
1 - 40
Tiffany Oaks
 
Altamonte Springs, FL
 
—

 
(1)
 
1,024

 
9,219

 
—

 
6,163

 
1,024

 
15,382

 
16,406

 
(10,400
)
 
6,006

 
1985
 
1 - 40
Indigo Point
 
Brandon, FL
 
—

 
(1)
 
1,167

 
10,500

 
—

 
3,754

 
1,167

 
14,254

 
15,421

 
(8,157
)
 
7,264

 
1989
 
1 - 40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life used to compute depreciation in latest income statement (4)
 
 
 
 
 
 
 
 
Initial Cost
 
Costs Capitalized subsequent to Acquisition
 
Gross Amount carried at December 31, 2015  (3)
 
 
 
 
 
 
 
 
 
Property
 
Location
 
Encumbrances
 
 
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Total
 
Accumulated Depreciation
 
Net
 
Date of Construction
 
Paddock Club Brandon
 
Brandon, FL
 
—

 
 
 
2,896

 
26,111

 
—

 
5,688

 
2,896

 
31,799

 
34,695

 
(17,936
)
 
16,759

 
1998
 
1 - 40
Colonial Grand at Lakewood Ranch
 
Bradenton, FL
 
—

 
 
 
2,980

 
40,230

 
—

 
1,697

 
2,980

 
41,927

 
44,907

 
(3,952
)
 
40,955

 
1999
 
1 - 40
Preserve at Coral Square
 
Coral Springs, FL
 
—

 
 
 
9,600

 
40,004

 
—

 
9,188

 
9,600

 
49,192

 
58,792

 
(19,518
)
 
39,274

 
1996
 
1 - 40
Paddock Club Gainesville
 
Gainesville, FL
 
—

 
 
 
1,800

 
15,879

 
—

 
4,347

 
1,800

 
20,226

 
22,026

 
(8,509
)
 
13,517

 
1999
 
1 - 40
The Retreat at Magnolia Park
 
Gainesville, FL
 
—

 
 
 
2,040

 
16,338

 
—

 
406

 
2,040

 
16,744

 
18,784

 
(2,688
)
 
16,096

 
2009
 
1 - 40
Colonial Grand at Heathrow
 
Heathrow, FL
 
20,594

 
 
 
4,101

 
35,684

 
—

 
1,427

 
4,101

 
37,111

 
41,212

 
(3,675
)
 
37,537

 
1997
 
1 - 40
220 Riverside
 
Jacksonville, FL
 
—

 
 
 
2,500

 
—

 
—

 
40,145

 
2,500

 
40,145

 
42,645

 
(342
)
 
42,303

 
2015
 
1 - 40
Atlantic Crossing
 
Jacksonville, FL
 
—

 
 
 
4,000

 
19,495

 
—

 
1,246

 
4,000

 
20,741

 
24,741

 
(3,496
)
 
21,245

 
2008
 
1 - 40
Cooper's Hawk
 
Jacksonville, FL
 
—

 
 
 
854

 
7,500

 
—

 
3,950

 
854

 
11,450

 
12,304

 
(7,899
)
 
4,405

 
1987
 
1 - 40
Hunter's Ridge at Deerwood
 
Jacksonville, FL
 
—

 
 
 
1,533

 
13,835

 
—

 
6,864

 
1,533

 
20,699

 
22,232

 
(12,756
)
 
9,476

 
1987
 
1 - 40
Lakeside
 
Jacksonville, FL
 
—

 
 
 
1,430

 
12,883

 
—

 
9,977

 
1,430

 
22,860

 
24,290

 
(16,129
)
 
8,161

 
1985
 
1 - 40
Lighthouse at Fleming Island
 
Jacksonville, FL
 
—

 
(1)
 
4,047

 
35,052

 
—

 
5,487

 
4,047

 
40,539

 
44,586

 
(17,354
)
 
27,232

 
2003
 
1 - 40
Paddock Club Mandarin
 
Jacksonville, FL
 
—

 
 
 
1,411

 
14,967

 
—

 
2,961

 
1,411

 
17,928

 
19,339

 
(8,503
)
 
10,836

 
1998
 
1 - 40
St. Augustine
 
Jacksonville, FL
 
—

 
 
 
2,857

 
6,475

 
—

 
7,585

 
2,857

 
14,060

 
16,917

 
(9,973
)
 
6,944

 
1987
 
1 - 40
St. Augustine II
 
Jacksonville, FL
 
—

 
 
 
—

 
—

 
—

 
13,394

 
—

 
13,394

 
13,394

 
(2,373
)
 
11,021

 
2008
 
1 - 40
Tattersall at Tapestry Park
 
Jacksonville, FL
 
—

 
 
 
6,417

 
36,069

 
—

 
611

 
6,417

 
36,680

 
43,097

 
(5,716
)
 
37,381

 
2009
 
1 - 40
Woodhollow
 
Jacksonville, FL
 
—

 
(1)
 
1,686

 
15,179

 
(8
)
 
10,222

 
1,678

 
25,401

 
27,079

 
(16,371
)
 
10,708

 
1986
 
1 - 40
Paddock Club Lakeland
 
Lakeland, FL
 
—

 
 
 
2,254

 
20,452

 
(1,033
)
 
8,836

 
1,221

 
29,288

 
30,509

 
(17,958
)
 
12,551

 
1988/90
 
1 - 40
Colonial Grand at Town Park
 
Lake Mary, FL
 
32,938

 
 
 
5,742

 
56,562

 
—

 
1,614

 
5,742

 
58,176

 
63,918

 
(5,985
)
 
57,933

 
2005
 
1 - 40
Colonial Grand at Town Park Reserve
 
Lake Mary, FL
 
—

 
 
 
3,481

 
10,311

 
—

 
188

 
3,481

 
10,499

 
13,980

 
(1,102
)
 
12,878

 
2004
 
1 - 40
Colonial Grand at Lake Mary
 
Lake Mary, FL
 
—

 
 
 
3,780

 
33,543

 
1,260

 
12,061

 
5,040

 
45,604

 
50,644

 
(4,134
)
 
46,510

 
2012
 
1 - 40
CG at Lake Mary III
 
Lake Mary, FL
 
—

 
 
 
1,306

 
7,996

 
—

 
10,691

 
1,306

 
18,687

 
19,993

 
(703
)
 
19,290

 
2014
 
1 - 40
Retreat at Lake Nona
 
Orlando, FL
 
—

 
 
 
7,880

 
41,175

 
—

 
2,096

 
7,880

 
43,271

 
51,151

 
(5,133
)
 
46,018

 
2006
 
1 - 40
Colonial Grand at Heather Glen
 
Orlando, FL
 
—

 
 
 
4,662

 
56,988

 
—

 
2,403

 
4,662

 
59,391

 
64,053

 
(5,553
)
 
58,500

 
2000
 
1 - 40
Colonial Grand at Randal Lakes
 
Orlando, FL
 
—

 
 
 
5,659

 
50,553

 
—

 
10,396

 
5,659

 
60,949

 
66,608

 
(2,926
)
 
63,682

 
2013
 
1 - 40
Park Crest at Innisbrook
 
Palm Harbor, FL
 
28,419

 
 
 
6,900

 
26,613

 
—

 
932

 
6,900

 
27,545

 
34,445

 
(6,576
)
 
27,869

 
2000
 
1 - 40
The Club at Panama Beach
 
Panama City, FL
 
—

 
 
 
898

 
14,276

 
(5
)
 
4,100

 
893

 
18,376

 
19,269

 
(9,512
)
 
9,757

 
2000
 
1 - 40
Colonial Village at Twin Lakes
 
Sanford, FL
 
25,044

 
 
 
3,091

 
47,793

 
—

 
976

 
3,091

 
48,769

 
51,860

 
(4,824
)
 
47,036

 
2005
 
1 - 40
Paddock Club Tallahassee
 
Tallahassee, FL
 
—

 
 
 
530

 
4,805

 
950

 
14,695

 
1,480

 
19,500

 
20,980

 
(11,784
)
 
9,196

 
1992
 
1 - 40
Verandas at Southwood
 
Tallahassee, FL
 
20,345

 
 
 
3,600

 
25,914

 
—

 
115

 
3,600

 
26,029

 
29,629

 
(1,260
)
 
28,369

 
2003
 
1 - 40
Belmere
 
Tampa, FL
 
—

 
(1)
 
852

 
7,667

 
—

 
6,282

 
852

 
13,949

 
14,801

 
(9,790
)
 
5,011

 
1984
 
1 - 40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life used to compute depreciation in latest income statement (4)
 
 
 
 
 
 
 
 
Initial Cost
 
Costs Capitalized subsequent to Acquisition
 
Gross Amount carried at December 31, 2015  (3)
 
 
 
 
 
 
 
 
 
Property
 
Location
 
Encumbrances
 
 
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Total
 
Accumulated Depreciation
 
Net
 
Date of Construction
 
Links at Carrollwood
 
Tampa, FL
 
—

 
 
 
817

 
7,355

 
110

 
5,649

 
927

 
13,004

 
13,931

 
(8,014
)
 
5,917

 
1980
 
1 - 40
Village Oaks
 
Tampa, FL
 
—

 
 
 
2,738

 
19,055

 
153

 
1,997

 
2,891

 
21,052

 
23,943

 
(5,296
)
 
18,647

 
2005
 
1 - 40
Colonial Grand at Hampton Preserve
 
Tampa, FL
 
—

 
 
 
6,233

 
69,535

 
—

 
750

 
6,233

 
70,285

 
76,518

 
(6,483
)
 
70,035

 
2012
 
1 - 40
Colonial Grand at Seven Oaks
 
Wesley Chapel, FL
 
20,720

 
 
 
3,051

 
42,768

 
—

 
741

 
3,051

 
43,509

 
46,560

 
(4,045
)
 
42,515

 
2004
 
1 - 40
Colonial Grand at Windermere
 
Windermere, FL
 
—

 
 
 
2,711

 
36,710

 
—

 
492

 
2,711

 
37,202

 
39,913

 
(3,377
)
 
36,536

 
2009
 
1 - 40
Allure at Brookwood
 
Atlanta, GA
 
—

 
 
 
11,168

 
52,758

 
—

 
2,960

 
11,168

 
55,718

 
66,886

 
(6,650
)
 
60,236

 
2008
 
1 - 40
Allure in Buckhead Village Residential
 
Atlanta, GA
 
—

 
 
 
8,633

 
19,844

 
—

 
4,923

 
8,633

 
24,767

 
33,400

 
(3,370
)
 
30,030

 
2002
 
1 - 40
Sanctuary at Oglethorpe
 
Atlanta, GA
 
—

 
 
 
6,875

 
31,441

 
—

 
3,452

 
6,875

 
34,893

 
41,768

 
(9,621
)
 
32,147

 
1994
 
1 - 40
Terraces at Fieldstone
 
Conyers, GA
 
—

 
 
 
1,284

 
15,819

 
—

 
2,877

 
1,284

 
18,696

 
19,980

 
(8,587
)
 
11,393

 
1999
 
1 - 40
Prescott
 
Duluth, GA
 
—

 
(2)
 
3,840

 
24,011

 
—

 
3,008

 
3,840

 
27,019

 
30,859

 
(10,837
)
 
20,022

 
2001
 
1 - 40
Colonial Grand at Berkeley Lake
 
Duluth, GA
 
—

 
 
 
1,960

 
15,707

 
—

 
870

 
1,960

 
16,577

 
18,537

 
(1,896
)
 
16,641

 
1998
 
1 - 40
Colonial Grand at River Oaks
 
Duluth, GA
 
11,680

 
 
 
4,360

 
13,579

 
—

 
961

 
4,360

 
14,540

 
18,900

 
(2,105
)
 
16,795

 
1992
 
1 - 40
Colonial Grand at River Plantation
 
Duluth, GA
 
—

 
 
 
2,059

 
19,158

 
—

 
1,075

 
2,059

 
20,233

 
22,292

 
(2,301
)
 
19,991

 
1994
 
1 - 40
Colonial Grand at McDaniel Farm
 
Duluth, GA
 
—

 
 
 
3,985

 
32,206

 
—

 
1,816

 
3,985

 
34,022

 
38,007

 
(3,844
)
 
34,163

 
1997
 
1 - 40
Colonial Grand at Pleasant Hill
 
Duluth, GA
 
—

 
 
 
6,753

 
32,202

 
—

 
1,960

 
6,753

 
34,162

 
40,915

 
(3,725
)
 
37,190

 
1996
 
1 - 40
Colonial Grand at Mount Vernon
 
Dunwoody, GA
 
15,328

 
 
 
6,861

 
23,748

 
—

 
1,137

 
6,861

 
24,885

 
31,746

 
(2,327
)
 
29,419

 
1997
 
1 - 40
Lake Lanier Club I
 
Gainesville, GA
 
—

 
 
 
3,560

 
22,611

 
—

 
4,386

 
3,560

 
26,997

 
30,557

 
(10,294
)
 
20,263

 
1998
 
1 - 40
Lake Lanier Club II
 
Gainesville, GA
 
—

 
(2)
 
3,150

 
18,383

 
—

 
2,168

 
3,150

 
20,551

 
23,701

 
(7,717
)
 
15,984

 
2001
 
1 - 40
Colonial Grand at Shiloh
 
Kennesaw, GA
 
30,454

 
 
 
4,864

 
45,893

 
—

 
1,683

 
4,864

 
47,576

 
52,440

 
(4,874
)
 
47,566

 
2002
 
1 - 40
Millstead Village
 
LaGrange, GA
 
—

 
 
 
3,100

 
29,240

 
—

 
192

 
3,100

 
29,432

 
32,532

 
(2,998
)
 
29,534

 
1998
 
1 - 40
Colonial Grand at Barrett Creek
 
Marietta, GA
 
19,257

 
 
 
5,661

 
26,186

 
—

 
1,246

 
5,661

 
27,432

 
33,093

 
(3,171
)
 
29,922

 
1999
 
1 - 40
Colonial Grand at Godley Station
 
Pooler, GA
 
12,777

 
 
 
1,800

 
35,454

 
—

 
1,344

 
1,800

 
36,798

 
38,598

 
(3,426
)
 
35,172

 
2001
 
1 - 40
Colonial Grand at Godley Lake
 
Pooler, GA
 
—

 
 
 
1,750

 
30,893

 
—

 
683

 
1,750

 
31,576

 
33,326

 
(3,124
)
 
30,202

 
2008
 
1 - 40
Avala at Savannah Quarters
 
Savannah, GA
 
—

 
 
 
1,500

 
24,862

 
—

 
818

 
1,500

 
25,680

 
27,180

 
(4,130
)
 
23,050

 
2009
 
1 - 40
Georgetown Grove
 
Savannah, GA
 
—

 
 
 
1,288

 
11,579

 
—

 
3,130

 
1,288

 
14,709

 
15,997

 
(8,776
)
 
7,221

 
1997
 
1 - 40
Colonial Grand at Hammocks
 
Savannah, GA
 
—

 
 
 
2,441

 
36,863

 
—

 
1,630

 
2,441

 
38,493

 
40,934

 
(3,607
)
 
37,327

 
1997
 
1 - 40
Colonial Village at Greentree
 
Savannah, GA
 
—

 
 
 
1,710

 
10,494

 
—

 
611

 
1,710

 
11,105

 
12,815

 
(1,377
)
 
11,438

 
1984
 
1 - 40
Colonial Village at Huntington
 
Savannah, GA
 
—

 
 
 
2,521

 
8,223

 
—

 
300

 
2,521

 
8,523

 
11,044

 
(931
)
 
10,113

 
1986
 
1 - 40
Colonial Village at Marsh Cove
 
Savannah, GA
 
—

 
 
 
5,231

 
8,555

 
—

 
472

 
5,231

 
9,027

 
14,258

 
(1,161
)
 
13,097

 
1983
 
1 - 40
Oaks at Wilmington Island
 
Savannah, GA
 
—

 
 
 
2,910

 
25,315

 
—

 
3,049

 
2,910

 
28,364

 
31,274

 
(9,317
)
 
21,957

 
1999
 
1 - 40
Highlands of West Village I
 
Smyrna, GA
 
41,075

 
 
 
9,052

 
43,395

 
—

 
4,377

 
9,052

 
47,772

 
56,824

 
(1,897
)
 
54,927

 
2006
 
1 - 40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life used to compute depreciation in latest income statement (4)
 
 
 
 
 
 
 
 
Initial Cost
 
Costs Capitalized subsequent to Acquisition
 
Gross Amount carried at December 31, 2015  (3)
 
 
 
 
 
 
 
 
 
Property
 
Location
 
Encumbrances
 
 
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Total
 
Accumulated Depreciation
 
Net
 
Date of Construction
 
Highlands of West Village II
 
Smyrna, GA
 
—

 
 
 
5,358

 
30,338

 
—

 
35

 
5,358

 
30,373

 
35,731

 
(1,196
)
 
34,535

 
2012
 
1 - 40
Terraces at Townelake
 
Woodstock, GA
 
—

 
 
 
1,331

 
11,918

 
1,688

 
22,465

 
3,019

 
34,383

 
37,402

 
(18,398
)
 
19,004

 
1999
 
1 - 40
Haven at Praire Trace
 
Overland Park, KS
 
—

 
 
 
3,500

 
40,614

 
—

 
250

 
3,500

 
40,864

 
44,364

 
(434
)
 
43,930

 
2015
 
1 - 40
Grand Reserve at Pinnacle
 
Lexington, KY
 
—

 
(1)
 
2,024

 
31,525

 
—

 
4,264

 
2,024

 
35,789

 
37,813

 
(15,170
)
 
22,643

 
2000
 
1 - 40
Lakepointe
 
Lexington, KY
 
—

 
 
 
411

 
3,699

 
—

 
2,613

 
411

 
6,312

 
6,723

 
(4,434
)
 
2,289

 
1986
 
1 - 40
Mansion, The
 
Lexington, KY
 
—

 
(1)
 
694

 
6,242

 
—

 
3,725

 
694

 
9,967

 
10,661

 
(6,972
)
 
3,689

 
1989
 
1 - 40
Village, The
 
Lexington, KY
 
—

 
(1)
 
900

 
8,097

 
—

 
5,050

 
900

 
13,147

 
14,047

 
(9,171
)
 
4,876

 
1989
 
1 - 40
Stonemill Village
 
Louisville, KY
 
—

 
 
 
1,169

 
10,518

 
—

 
10,049

 
1,169

 
20,567

 
21,736

 
(13,554
)
 
8,182

 
1985
 
1 - 40
Crosswinds
 
Jackson, MS
 
—

 
 
 
1,535

 
13,826

 
—

 
5,748

 
1,535

 
19,574

 
21,109

 
(12,927
)
 
8,182

 
1989
 
1 - 40
Pear Orchard
 
Jackson, MS
 
—

 
 
 
1,351

 
12,168

 
—

 
9,055

 
1,351

 
21,223

 
22,574

 
(14,512
)
 
8,062

 
1985
 
1 - 40
Reflection Pointe
 
Jackson, MS
 
—

 
 
 
710

 
8,770

 
138

 
8,737

 
848

 
17,507

 
18,355

 
(11,209
)
 
7,146

 
1986
 
1 - 40
Lakeshore Landing
 
Ridgeland, MS
 
—

 
 
 
676

 
6,284

 
—

 
2,961

 
676

 
9,245

 
9,921

 
(4,138
)
 
5,783

 
1974
 
1 - 40
Market Station
 
Kansas City, MO
 
—

 
 
 
5,814

 
46,241

 
—

 
752

 
5,814

 
46,993

 
52,807

 
(5,232
)
 
47,575

 
2010
 
1 - 40
Residences at Burlington Creek
 
Kansas City, MO
 
—

 
 
 
4,000

 
42,144

 
—

 
311

 
4,000

 
42,455

 
46,455

 
(1,086
)
 
45,369

 
2013/14
 
1 - 40
The Denton
 
Kansas City, MO
 
—

 
 
 
750

 
8,795

 
—

 
—

 
750

 
8,795

 
9,545

 
—

 
9,545

 
2014
 
1 - 40
Colonial Grand at Desert Vista
 
North Las Vegas, NV
 
—

 
 
 
4,091

 
29,826

 
—

 
633

 
4,091

 
30,459

 
34,550

 
(3,094
)
 
31,456

 
2009
 
1 - 40
Colonial Grand at Palm Vista
 
North Las Vegas, NV
 
—

 
 
 
4,909

 
25,643

 
—

 
1,136

 
4,909

 
26,779

 
31,688

 
(2,806
)
 
28,882

 
2007
 
1 - 40
Colonial Village at Beaver Creek
 
Apex, NC
 
—

 
 
 
7,491

 
34,863

 
—

 
963

 
7,491

 
35,826

 
43,317

 
(3,376
)
 
39,941

 
2007
 
1 - 40
Hermitage at Beechtree
 
Cary, NC
 
—

 
(1)
 
900

 
8,099

 
—

 
5,352

 
900

 
13,451

 
14,351

 
(8,341
)
 
6,010

 
1988
 
1 - 40
Waterford Forest
 
Cary, NC
 
—

 
(2)
 
4,000

 
20,250

 
—

 
3,235

 
4,000

 
23,485

 
27,485

 
(9,018
)
 
18,467

 
1996
 
1 - 40
1225 South Church I
 
Charlotte, NC
 
—

 
 
 
4,780

 
22,342

 
4,832

 
23,562

 
9,612

 
45,904

 
55,516

 
(4,846
)
 
50,670

 
2010
 
1 - 40
Colonial Grand at Ayrsley
 
Charlotte, NC
 
—

 
 
 
1,240

 
52,119

 
1,241

 
12,432

 
2,481

 
64,551

 
67,032

 
(5,695
)
 
61,337

 
2008
 
1 - 40
Colonial Grand at Beverly Crest
 
Charlotte, NC
 
15,496

 
 
 
3,161

 
24,004

 
—

 
1,774

 
3,161

 
25,778

 
28,939

 
(2,412
)
 
26,527

 
1996
 
1 - 40
Colonial Grand at Legacy Park
 
Charlotte, NC
 
—

 
 
 
2,891

 
28,272

 
—

 
1,007

 
2,891

 
29,279

 
32,170

 
(2,882
)
 
29,288

 
2001
 
1 - 40
Colonial Grand at Mallard Creek
 
Charlotte, NC
 
15,630

 
 
 
4,591

 
27,713

 
—

 
588

 
4,591

 
28,301

 
32,892

 
(2,840
)
 
30,052

 
2005
 
1 - 40
Colonial Grand at Mallard Lake
 
Charlotte, NC
 
17,642

 
 
 
3,250

 
31,389

 
—

 
1,518

 
3,250

 
32,907

 
36,157

 
(3,284
)
 
32,873

 
1998
 
1 - 40
Colonial Grand at University Center
 
Charlotte, NC
 
—

 
 
 
1,620

 
17,499

 
—

 
389

 
1,620

 
17,888

 
19,508

 
(1,663
)
 
17,845

 
2005
 
1 - 40
Colonial Reserve at South End
 
Charlotte, NC
 
—

 
 
 
4,628

 
44,282

 
—

 
10,826

 
4,628

 
55,108

 
59,736

 
(2,474
)
 
57,262

 
2013
 
1 - 40
Colonial Village at Chancellor Park
 
Charlotte, NC
 
—

 
 
 
5,311

 
28,016

 
—

 
1,681

 
5,311

 
29,697

 
35,008

 
(2,753
)
 
32,255

 
1999
 
1 - 40
Colonial Village at Greystone
 
Charlotte, NC
 
14,180

 
 
 
4,120

 
25,974

 
—

 
1,210

 
4,120

 
27,184

 
31,304

 
(2,467
)
 
28,837

 
1998/2000
 
1 - 40
Colonial Village at South Tryon
 
Charlotte, NC
 
—

 
 
 
2,260

 
19,489

 
—

 
726

 
2,260

 
20,215

 
22,475

 
(1,998
)
 
20,477

 
2002
 
1 - 40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life used to compute depreciation in latest income statement (4)
 
 
 
 
 
 
 
 
Initial Cost
 
Costs Capitalized subsequent to Acquisition
 
Gross Amount carried at December 31, 2015  (3)
 
 
 
 
 
 
 
 
 
Property
 
Location
 
Encumbrances
 
 
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Total
 
Accumulated Depreciation
 
Net
 
Date of Construction
 
Colonial Village at Stone Point
 
Charlotte, NC
 
—

 
 
 
2,141

 
11,564

 
—

 
804

 
2,141

 
12,368

 
14,509

 
(1,519
)
 
12,990

 
1986
 
1 - 40
Colonial Village at Timber Crest
 
Charlotte, NC
 
—

 
 
 
2,901

 
17,192

 
—

 
769

 
2,901

 
17,961

 
20,862

 
(1,642
)
 
19,220

 
2000
 
1 - 40
Enclave
 
Charlotte, NC
 
—

 
 
 
1,461

 
18,984

 
—

 
353

 
1,461

 
19,337

 
20,798

 
(1,607
)
 
19,191

 
2008
 
1 - 40
Colonial Grand at Cornelius
 
Cornelius, NC
 
—

 
 
 
4,571

 
29,151

 
—

 
510

 
4,571

 
29,661

 
34,232

 
(3,049
)
 
31,183

 
2009
 
1 - 40
Colonial Grand at Patterson Place
 
Durham, NC
 
15,361

 
 
 
2,590

 
27,126

 
—

 
1,174

 
2,590

 
28,300

 
30,890

 
(2,704
)
 
28,186

 
1997
 
1 - 40
Colonial Village at Woodlake
 
Durham, NC
 
—

 
 
 
2,741

 
17,686

 
—

 
721

 
2,741

 
18,407

 
21,148

 
(1,927
)
 
19,221

 
1996
 
1 - 40
Colonial Village at Deerfield
 
Durham, NC
 
—

 
 
 
3,271

 
15,609

 
—

 
678

 
3,271

 
16,287

 
19,558

 
(1,919
)
 
17,639

 
1985
 
1 - 40
Colonial Grand at Research Park
 
Durham, NC
 
—

 
 
 
4,201

 
37,682

 
—

 
908

 
4,201

 
38,590

 
42,791

 
(3,865
)
 
38,926

 
2002
 
1 - 40
Colonial Grand at Autumn Park
 
Greensboro, NC
 
—

 
 
 
4,182

 
26,214

 
—

 
967

 
4,182

 
27,181

 
31,363

 
(2,506
)
 
28,857

 
2001/04
 
1 - 40
Colonial Grand at Huntersville
 
Huntersville, NC
 
14,843

 
 
 
4,251

 
31,948

 
—

 
862

 
4,251

 
32,810

 
37,061

 
(3,255
)
 
33,806

 
2008
 
1 - 40
Colonial Village at Matthews
 
Matthews, NC
 
13,587

 
 
 
3,071

 
21,830

 
—

 
2,508

 
3,071

 
24,338

 
27,409

 
(2,611
)
 
24,798

 
2008
 
1 - 40
Colonial Grand at Matthews Commons
 
Matthews, NC
 
—

 
 
 
3,690

 
28,536

 
—

 
1,012

 
3,690

 
29,548

 
33,238

 
(2,818
)
 
30,420

 
2008
 
1 - 40
Colonial Grand at Arringdon
 
Morrisville, NC
 
19,319

 
 
 
6,401

 
31,134

 
—

 
931

 
6,401

 
32,065

 
38,466

 
(3,169
)
 
35,297

 
2003
 
1 - 40
Colonial Grand at Brier Creek
 
Raleigh, NC
 
25,490

 
 
 
7,372

 
50,202

 
—

 
867

 
7,372

 
51,069

 
58,441

 
(4,812
)
 
53,629

 
2010
 
1 - 40
Colonial Grand at Brier Falls
 
Raleigh, NC
 
—

 
 
 
6,572

 
48,910

 
—

 
747

 
6,572

 
49,657

 
56,229

 
(4,611
)
 
51,618

 
2008
 
1 - 40
Colonial Grand at Crabtree Valley
 
Raleigh, NC
 
10,532

 
 
 
2,241

 
18,434

 
—

 
925

 
2,241

 
19,359

 
21,600

 
(1,746
)
 
19,854

 
1997
 
1 - 40
Hue
 
Raleigh, NC
 
—

 
 
 
3,690

 
29,910

 
—

 
1,550

 
3,690

 
31,460

 
35,150

 
(4,923
)
 
30,227

 
2009
 
1 - 40
Colonial Grand at Trinity Commons
 
Raleigh, NC
 
29,725

 
 
 
5,232

 
45,138

 
—

 
1,477

 
5,232

 
46,615

 
51,847

 
(4,722
)
 
47,125

 
2000/02
 
1 - 40
Preserve at Brier Creek
 
Raleigh, NC
 
—

 
 
 
5,850

 
21,980

 
(19
)
 
24,178

 
5,831

 
46,158

 
51,989

 
(13,195
)
 
38,794

 
2004
 
1 - 40
Providence at Brier Creek
 
Raleigh, NC
 
—

 
 
 
4,695

 
29,007

 
—

 
1,424

 
4,695

 
30,431

 
35,126

 
(7,898
)
 
27,228

 
2007
 
1 - 40
Corners, The
 
Winston-Salem, NC
 
—

 
 
 
685

 
6,165

 
—

 
3,453

 
685

 
9,618

 
10,303

 
(7,112
)
 
3,191

 
1982
 
1 - 40
Colonial Village at Glen Eagles
 
Winston-Salem, NC
 
—

 
 
 
3,400

 
15,002

 
—

 
1,276

 
3,400

 
16,278

 
19,678

 
(1,649
)
 
18,029

 
1990/2000
 
1 - 40
Colonial Village at Mill Creek
 
Winston-Salem, NC
 
—

 
 
 
2,351

 
7,354

 
—

 
546

 
2,351

 
7,900

 
10,251

 
(876
)
 
9,375

 
1984
 
1 - 40
Tanglewood
 
Anderson, SC
 
—

 
 
 
427

 
3,853

 
—

 
3,486

 
427

 
7,339

 
7,766

 
(5,175
)
 
2,591

 
1980
 
1 - 40
Colonial Grand at Cypress Cove
 
Charleston, SC
 
—

 
 
 
3,610

 
28,645

 
—

 
1,092

 
3,610

 
29,737

 
33,347

 
(2,947
)
 
30,400

 
2001
 
1 - 40
Colonial Village at Hampton Pointe
 
Charleston, SC
 
—

 
 
 
3,971

 
22,790

 
—

 
2,123

 
3,971

 
24,913

 
28,884

 
(2,432
)
 
26,452

 
1986
 
1 - 40
Colonial Grand at Quarterdeck
 
Charleston, SC
 
—

 
 
 
920

 
24,097

 
—

 
2,887

 
920

 
26,984

 
27,904

 
(2,451
)
 
25,453

 
1987
 
1 - 40
Colonial Village at Westchase
 
Charleston, SC
 
—

 
 
 
4,571

 
20,091

 
—

 
1,476

 
4,571

 
21,567

 
26,138

 
(2,416
)
 
23,722

 
1985
 
1 - 40
River's Walk
 
Charleston, SC
 
—

 
 
 
5,200

 
—

 
—

 
28,810

 
5,200

 
28,810

 
34,010

 
(1,573
)
 
32,437

 
2013
 
1 - 40
Fairways, The
 
Columbia, SC
 
—

 
 
 
910

 
8,207

 
—

 
3,831

 
910

 
12,038

 
12,948

 
(8,106
)
 
4,842

 
1992
 
1 - 40
Paddock Club Columbia
 
Columbia, SC
 
—

 
 
 
1,840

 
16,560

 
—

 
4,548

 
1,840

 
21,108

 
22,948

 
(13,117
)
 
9,831

 
1991
 
1 - 40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life used to compute depreciation in latest income statement (4)
 
 
 
 
 
 
 
 
Initial Cost
 
Costs Capitalized subsequent to Acquisition
 
Gross Amount carried at December 31, 2015  (3)
 
 
 
 
 
 
 
 
 
Property
 
Location
 
Encumbrances
 
 
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Total
 
Accumulated Depreciation
 
Net
 
Date of Construction
 
Colonial Village at Windsor Place
 
Goose Creek, SC
 
—

 
 
 
1,321

 
14,163

 
—

 
1,277

 
1,321

 
15,440

 
16,761

 
(1,715
)
 
15,046

 
1985
 
1 - 40
Highland Ridge
 
Greenville, SC
 
—

 
 
 
482

 
4,337

 
—

 
2,678

 
482

 
7,015

 
7,497

 
(4,502
)
 
2,995

 
1984
 
1 - 40
Howell Commons
 
Greenville, SC
 
—

 
(1)
 
1,304

 
11,740

 
—

 
4,439

 
1,304

 
16,179

 
17,483

 
(10,505
)
 
6,978

 
1987
 
1 - 40
Paddock Club Greenville
 
Greenville, SC
 
—

 
(1)
 
1,200

 
10,800

 
—

 
2,369

 
1,200

 
13,169

 
14,369

 
(8,159
)
 
6,210

 
1996
 
1 - 40
Park Haywood
 
Greenville, SC
 
—

 
(1)
 
325

 
2,925

 
35

 
5,012

 
360

 
7,937

 
8,297

 
(5,736
)
 
2,561

 
1983
 
1 - 40
Spring Creek
 
Greenville, SC
 
—

 
 
 
597

 
5,374

 
(14
)
 
3,577

 
583

 
8,951

 
9,534

 
(6,011
)
 
3,523

 
1985
 
1 - 40
Runaway Bay
 
Mt. Pleasant, SC
 
—

 
 
 
1,085

 
7,269

 
12

 
6,889

 
1,097

 
14,158

 
15,255

 
(9,350
)
 
5,905

 
1988
 
1 - 40
Colonial Grand at Commerce Park
 
North Charleston, SC
 
—

 
 
 
2,780

 
33,966

 
—

 
753

 
2,780

 
34,719

 
37,499

 
(3,313
)
 
34,186

 
2008
 
1 - 40
535 Brookwood
 
Simpsonville, SC
 
12,889

 
 
 
1,216

 
18,666

 
—

 
851

 
1,216

 
19,517

 
20,733

 
(3,769
)
 
16,964

 
2008
 
1 - 40
Park Place
 
Spartanburg, SC
 
—

 
 
 
723

 
6,504

 
—

 
3,374

 
723

 
9,878

 
10,601

 
(6,336
)
 
4,265

 
1987
 
1 - 40
Farmington Village
 
Summerville, SC
 
—

 
 
 
2,800

 
26,295

 
—

 
1,197

 
2,800

 
27,492

 
30,292

 
(7,772
)
 
22,520

 
2007
 
1 - 40
Colonial Village at Waters Edge
 
Summerville, SC
 
—

 
 
 
2,103

 
9,187

 
—

 
1,979

 
2,103

 
11,166

 
13,269

 
(1,364
)
 
11,905

 
1985
 
1 - 40
Hamilton Pointe
 
Chattanooga, TN
 
—

 
 
 
1,131

 
10,632

 
—

 
4,326

 
1,131

 
14,958

 
16,089

 
(6,593
)
 
9,496

 
1989
 
1 - 40
Hidden Creek
 
Chattanooga, TN
 
—

 
(1)
 
972

 
8,954

 
—

 
2,877

 
972

 
11,831

 
12,803

 
(5,329
)
 
7,474

 
1987
 
1 - 40
Steeplechase
 
Chattanooga, TN
 
—

 
 
 
217

 
1,957

 
—

 
3,350

 
217

 
5,307

 
5,524

 
(3,676
)
 
1,848

 
1986
 
1 - 40
Windridge
 
Chattanooga, TN
 
—

 
 
 
817

 
7,416

 
—

 
4,462

 
817

 
11,878

 
12,695

 
(7,363
)
 
5,332

 
1984
 
1 - 40
Kirby Station
 
Memphis, TN
 
—

 
 
 
1,148

 
10,337

 
—

 
10,385

 
1,148

 
20,722

 
21,870

 
(12,916
)
 
8,954

 
1978
 
1 - 40
Lincoln on the Green
 
Memphis, TN
 
—

 
(1)
 
1,498

 
20,483

 
—

 
15,864

 
1,498

 
36,347

 
37,845

 
(23,701
)
 
14,144

 
1992
 
1 - 40
Park Estate
 
Memphis, TN
 
—

 
 
 
178

 
1,141

 
—

 
5,047

 
178

 
6,188

 
6,366

 
(4,826
)
 
1,540

 
1974
 
1 - 40
Reserve at Dexter Lake
 
Memphis, TN
 
—

 
 
 
1,260

 
16,043

 
2,147

 
39,413

 
3,407

 
55,456

 
58,863

 
(22,945
)
 
35,918

 
2000
 
1 - 40
Paddock Club Murfreesboro
 
Murfreesboro, TN
 
—

 
 
 
915

 
14,774

 
—

 
3,143

 
915

 
17,917

 
18,832

 
(8,310
)
 
10,522

 
1999
 
1 - 40
Aventura at Indian Lake Village
 
Nashville, TN
 
—

 
 
 
4,950

 
28,053

 
—

 
1,035

 
4,950

 
29,088

 
34,038

 
(4,350
)
 
29,688

 
2010
 
1 - 40
Avondale at Kennesaw
 
Nashville, TN
 
17,762

 
 
 
3,456

 
22,443

 
—

 
1,419

 
3,456

 
23,862

 
27,318

 
(4,607
)
 
22,711

 
2008
 
1 - 40
Brentwood Downs
 
Nashville, TN
 
—

 
 
 
1,193

 
10,739

 
(2
)
 
7,368

 
1,191

 
18,107

 
19,298

 
(12,097
)
 
7,201

 
1986
 
1 - 40
Colonial Grand at Bellevue
 
Nashville, TN
 
22,086

 
 
 
8,622

 
34,229

 
—

 
1,204

 
8,622

 
35,433

 
44,055

 
(3,697
)
 
40,358

 
1996
 
1 - 40
Colonial Grand at Bellevue (Phase II)
 
Nashville, TN
 
—

 
 
 
8,656

 
4,549

 
—

 
25,579

 
8,656

 
30,128

 
38,784

 
(543
)
 
38,241

 
2015
 
1 - 40
Grand View Nashville
 
Nashville, TN
 
—

 
 
 
2,963

 
33,673

 
—

 
6,820

 
2,963

 
40,493

 
43,456

 
(16,705
)
 
26,751

 
2001
 
1 - 40
Monthaven Park
 
Nashville, TN
 
—

 
 
 
2,736

 
28,902

 
—

 
5,467

 
2,736

 
34,369

 
37,105

 
(14,612
)
 
22,493

 
2000
 
1 - 40
Park at Hermitage
 
Nashville, TN
 
—

 
 
 
1,524

 
14,800

 
—

 
9,574

 
1,524

 
24,374

 
25,898

 
(16,152
)
 
9,746

 
1987
 
1 - 40
Venue at Cool Springs
 
Nashville, TN
 
—

 
 
 
6,670

 
—

 
—

 
50,396

 
6,670

 
50,396

 
57,066

 
(4,376
)
 
52,690

 
2012
 
1 - 40
Verandas at Sam Ridley
 
Nashville, TN
 
21,861

 
 
 
3,350

 
28,308

 
—

 
1,346

 
3,350

 
29,654

 
33,004

 
(5,565
)
 
27,439

 
2009
 
1 - 40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life used to compute depreciation in latest income statement (4)
 
 
 
 
 
 
 
 
Initial Cost
 
Costs Capitalized subsequent to Acquisition
 
Gross Amount carried at December 31, 2015  (3)
 
 
 
 
 
 
 
 
 
Property
 
Location
 
Encumbrances
 
 
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Total
 
Accumulated Depreciation
 
Net
 
Date of Construction
 
Northwood
 
Arlington, TX
 
—

 
 
 
886

 
8,051

 
—

 
2,869

 
886

 
10,920

 
11,806

 
(4,826
)
 
6,980

 
1980
 
1 - 40
Balcones Woods
 
Austin, TX
 
—

 
 
 
1,598

 
14,398

 
—

 
11,475

 
1,598

 
25,873

 
27,471

 
(16,712
)
 
10,759

 
1983
 
1 - 40
Colonial Grand at Canyon Creek
 
Austin, TX
 
15,159

 
 
 
3,621

 
32,137

 
—

 
1,095

 
3,621

 
33,232

 
36,853

 
(3,309
)
 
33,544

 
2008
 
1 - 40
Colonial Grand at Canyon Ranch
 
Austin, TX
 
—

 
 
 
3,778

 
20,201

 
—

 
1,150

 
3,778

 
21,351

 
25,129

 
(2,339
)
 
22,790

 
2003
 
1 - 40
Colonial Grand at Double Creek
 
Austin, TX
 
—

 
 
 
3,131

 
29,375

 
—

 
292

 
3,131

 
29,667

 
32,798

 
(3,030
)
 
29,768

 
2013
 
1 - 40
Colonial Grand at Onion Creek
 
Austin, TX
 
—

 
 
 
4,902

 
33,010

 
—

 
799

 
4,902

 
33,809

 
38,711

 
(3,437
)
 
35,274

 
2009
 
1 - 40
Grand Reserve at Sunset Valley
 
Austin, TX
 
—

 
 
 
3,150

 
11,393

 
—

 
3,488

 
3,150

 
14,881

 
18,031

 
(6,087
)
 
11,944

 
1996
 
1 - 40
Colonial Village at Quarry Oaks
 
Austin, TX
 
26,832

 
 
 
4,621

 
34,461

 
—

 
3,763

 
4,621

 
38,224

 
42,845

 
(3,881
)
 
38,964

 
1996
 
1 - 40
Colonial Grand at Wells Branch
 
Austin, TX
 
—

 
 
 
3,094

 
32,283

 
294

 
871

 
3,388

 
33,154

 
36,542

 
(3,118
)
 
33,424

 
2008
 
1 - 40
Legacy at Western Oaks
 
Austin, TX
 
29,672

 
 
 
9,100

 
49,339

 
—

 
(2,348
)
 
9,100

 
46,991

 
56,091

 
(6,084
)
 
50,007

 
2001
 
1 - 40
Silverado
 
Austin, TX
 
—

 
 
 
2,900

 
24,009

 
—

 
2,770

 
2,900

 
26,779

 
29,679

 
(9,211
)
 
20,468

 
2003
 
1 - 40
Stassney Woods
 
Austin, TX
 
—

 
 
 
1,621

 
7,501

 
—

 
8,615

 
1,621

 
16,116

 
17,737

 
(9,615
)
 
8,122

 
1985
 
1 - 40
Travis Station
 
Austin, TX
 
—

 
 
 
2,281

 
6,169

 
—

 
7,526

 
2,281

 
13,695

 
15,976

 
(8,840
)
 
7,136

 
1987
 
1 - 40
Woods, The
 
Austin, TX
 
—

 
 
 
1,405

 
12,769

 
—

 
7,855

 
1,405

 
20,624

 
22,029

 
(8,796
)
 
13,233

 
1977
 
1 - 40
Colonial Village at Shoal Creek
 
Bedford, TX
 
22,807

 
 
 
4,982

 
27,377

 
—

 
1,614

 
4,982

 
28,991

 
33,973

 
(3,095
)
 
30,878

 
1996
 
1 - 40
Colonial Village at Willow Creek
 
Bedford, TX
 
26,429

 
 
 
3,109

 
33,488

 
—

 
3,700

 
3,109

 
37,188

 
40,297

 
(3,652
)
 
36,645

 
1996
 
1 - 40
Colonial Grand at Hebron
 
Carrollton, TX
 
—

 
 
 
4,231

 
42,237

 
—

 
505

 
4,231

 
42,742

 
46,973

 
(3,884
)
 
43,089

 
2011
 
1 - 40
Colonial Grand at Silverado
 
Cedar Park, TX
 
—

 
 
 
3,282

 
24,935

 
—

 
737

 
3,282

 
25,672

 
28,954

 
(2,524
)
 
26,430

 
2005
 
1 - 40
Colonial Grand at Silverado Reserve
 
Cedar Park, TX
 
—

 
 
 
3,951

 
31,705

 
—

 
1,005

 
3,951

 
32,710

 
36,661

 
(3,145
)
 
33,516

 
2005
 
1 - 40
Grand Cypress
 
Cypress, TX
 
16,598

 
 
 
3,881

 
24,267

 
—

 
677

 
3,881

 
24,944

 
28,825

 
(1,731
)
 
27,094

 
2008
 
1 - 40
Courtyards at Campbell
 
Dallas, TX
 
—

 
 
 
988

 
8,893

 
—

 
4,013

 
988

 
12,906

 
13,894

 
(7,793
)
 
6,101

 
1986
 
1 - 40
Deer Run
 
Dallas, TX
 
—

 
 
 
1,252

 
11,271

 
—

 
5,160

 
1,252

 
16,431

 
17,683

 
(10,022
)
 
7,661

 
1985
 
1 - 40
Grand Courtyard
 
Dallas, TX
 
—

 
 
 
2,730

 
22,240

 
—

 
2,620

 
2,730

 
24,860

 
27,590

 
(8,665
)
 
18,925

 
2000
 
1 - 40
Legends at Lowe's Farm
 
Dallas, TX
 
—

 
 
 
5,016

 
41,091

 
—

 
1,341

 
5,016

 
42,432

 
47,448

 
(6,373
)
 
41,075

 
2008
 
1 - 40
Colonial Reserve at Medical District
 
Dallas, TX
 
—

 
 
 
4,050

 
33,779

 
—

 
888

 
4,050

 
34,667

 
38,717

 
(2,997
)
 
35,720

 
2007
 
1 - 40
Watermark
 
Dallas, TX
 
—

 
(2)
 
960

 
14,438

 
—

 
2,119

 
960

 
16,557

 
17,517

 
(6,799
)
 
10,718

 
2002
 
1 - 40
Colonial Village at Main Park
 
Duncanville, TX
 
—

 
 
 
1,821

 
10,960

 
—

 
1,204

 
1,821

 
12,164

 
13,985

 
(1,390
)
 
12,595

 
1984
 
1 - 40
Colonial Grand at Bear Creek
 
Euless, TX
 
24,082

 
 
 
6,453

 
30,048

 
—

 
1,876

 
6,453

 
31,924

 
38,377

 
(3,494
)
 
34,883

 
1998
 
1 - 40
Colonial Grand at Fairview
 
Fairview, TX
 
—

 
 
 
2,171

 
35,077

 
—

 
421

 
2,171

 
35,498

 
37,669

 
(3,195
)
 
34,474

 
2012
 
1 - 40
La Valencia at Starwood
 
Frisco, TX
 
20,931

 
 
 
3,240

 
26,069

 
—

 
1,014

 
3,240

 
27,083

 
30,323

 
(5,045
)
 
25,278

 
2009
 
1 - 40
Colonial Reserve at Frisco Bridges
 
Frisco, TX
 
—

 
 
 
1,968

 
34,018

 
—

 
831

 
1,968

 
34,849

 
36,817

 
(3,069
)
 
33,748

 
2013
 
1 - 40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life used to compute depreciation in latest income statement (4)
 
 
 
 
 
 
 
 
Initial Cost
 
Costs Capitalized subsequent to Acquisition
 
Gross Amount carried at December 31, 2015  (3)
 
 
 
 
 
 
 
 
 
Property
 
Location
 
Encumbrances
 
 
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Total
 
Accumulated Depreciation
 
Net
 
Date of Construction
 
Colonial Village at Grapevine
 
Grapevine, TX
 
—

 
 
 
2,351

 
29,757

 
—

 
2,958

 
2,351

 
32,715

 
35,066

 
(3,153
)
 
31,913

 
1985/1986
 
1 - 40
Greenwood Forest
 
Houston, TX
 
—

 
 
 
3,465

 
23,482

 
—

 
(159
)
 
3,465

 
23,323

 
26,788

 
(2,180
)
 
24,608

 
1994
 
1 - 40
Legacy Pines
 
Houston, TX
 
—

 
(2)
 
2,157

 
19,066

 
(15
)
 
3,705

 
2,142

 
22,771

 
24,913

 
(10,576
)
 
14,337

 
1999
 
1 - 40
Park Place (Houston)
 
Houston, TX
 
—

 
 
 
2,061

 
15,830

 
—

 
3,299

 
2,061

 
19,129

 
21,190

 
(6,454
)
 
14,736

 
1996
 
1 - 40
Ranchstone
 
Houston, TX
 
—

 
 
 
1,480

 
14,807

 
—

 
2,368

 
1,480

 
17,175

 
18,655

 
(5,521
)
 
13,134

 
1996
 
1 - 40
Reserve at Woodwind Lakes
 
Houston, TX
 
—

 
 
 
1,968

 
19,928

 
—

 
3,246

 
1,968

 
23,174

 
25,142

 
(7,948
)
 
17,194

 
1999
 
1 - 40
Retreat at Vintage Park
 
Houston, TX
 
—

 
 
 
8,211

 
40,352

 
—

 
392

 
8,211

 
40,744

 
48,955

 
(1,124
)
 
47,831

 
2014
 
1 - 40
Cascade at Fall Creek
 
Humble, TX
 
—

 
 
 
3,230

 
19,926

 
—

 
1,228

 
3,230

 
21,154

 
24,384

 
(6,034
)
 
18,350

 
2007
 
1 - 40
Chalet at Fall Creek
 
Humble, TX
 
—

 
 
 
2,755

 
20,085

 
—

 
860

 
2,755

 
20,945

 
23,700

 
(6,337
)
 
17,363

 
2006
 
1 - 40
Bella Casita
 
Irving, TX
 
—

 
(2)
 
2,521

 
26,432

 
—

 
1,392

 
2,521

 
27,824

 
30,345

 
(4,912
)
 
25,433

 
2007
 
1 - 40
Remington Hills
 
Irving, TX
 
—

 
 
 
4,390

 
21,822

 
—

 
4,804

 
4,390

 
26,626

 
31,016

 
(2,609
)
 
28,407

 
1984
 
1 - 40
Colonial Reserve at Las Colinas
 
Irving, TX
 
—

 
 
 
3,902

 
40,691

 
—

 
998

 
3,902

 
41,689

 
45,591

 
(3,645
)
 
41,946

 
2006
 
1 - 40
Colonial Grand at Valley Ranch
 
Irving, TX
 
25,044

 
 
 
5,072

 
37,397

 
—

 
5,970

 
5,072

 
43,367

 
48,439

 
(4,188
)
 
44,251

 
1997
 
1 - 40
Lane at Towne Crossing
 
Mesquite, TX
 
—

 
 
 
1,311

 
11,867

 
(8
)
 
3,481

 
1,303

 
15,348

 
16,651

 
(6,885
)
 
9,766

 
1983
 
1 - 40
Colonial Village at Oakbend
 
Lewisville, TX
 
21,667

 
 
 
5,598

 
28,616

 
—

 
2,246

 
5,598

 
30,862

 
36,460

 
(3,113
)
 
33,347

 
1997
 
1 - 40
Times Square at Craig Ranch
 
McKinney, TX
 
—

 
 
 
1,130

 
28,058

 
—

 
2,992

 
1,130

 
31,050

 
32,180

 
(6,079
)
 
26,101

 
2009
 
1 - 40
Venue at Stonebridge Ranch
 
McKinney, TX
 
14,767

 
 
 
4,034

 
19,528

 
—

 
247

 
4,034

 
19,775

 
23,809

 
(1,342
)
 
22,467

 
2000
 
1 - 40
Cityscape at Market Center
 
Plano, TX
 
—

 
 
 
8,626

 
60,407

 
—

 
538

 
8,626

 
60,945

 
69,571

 
(2,481
)
 
67,090

 
2013
 
1 - 40
Cityscape at Market Center II
 
Plano, TX
 
—

 
 
 
8,268

 
50,298

 
—

 
20

 
8,268

 
50,318

 
58,586

 
(107
)
 
58,479

 
2015
 
1 - 40
Highwood
 
Plano, TX
 
—

 
 
 
864

 
7,783

 
—

 
3,915

 
864

 
11,698

 
12,562

 
(7,422
)
 
5,140

 
1983
 
1 - 40
Los Rios Park
 
Plano, TX
 
—

 
 
 
3,273

 
28,823

 
—

 
5,005

 
3,273

 
33,828

 
37,101

 
(14,858
)
 
22,243

 
2000
 
1 - 40
Boulder Ridge
 
Roanoke, TX
 
—

 
 
 
3,382

 
26,930

 
—

 
5,835

 
3,382

 
32,765

 
36,147

 
(12,218
)
 
23,929

 
1999
 
1 - 40
Copper Ridge
 
Roanoke, TX
 
—

 
 
 
4,166

 
—

 
—

 
21,358

 
4,166

 
21,358

 
25,524

 
(3,950
)
 
21,574

 
2009
 
1 - 40
Colonial Grand at Ashton Oaks
 
Round Rock, TX
 
—

 
 
 
5,511

 
36,241

 
—

 
899

 
5,511

 
37,140

 
42,651

 
(3,655
)
 
38,996

 
2009
 
1 - 40
Colonial Grand at Round Rock
 
Round Rock, TX
 
24,484

 
 
 
4,691

 
45,379

 
—

 
1,249

 
4,691

 
46,628

 
51,319

 
(4,425
)
 
46,894

 
1997
 
1 - 40
Colonial Village at Sierra Vista
 
Round Rock, TX
 
10,900

 
 
 
2,561

 
16,488

 
—

 
1,842

 
2,561

 
18,330

 
20,891

 
(1,836
)
 
19,055

 
1999
 
1 - 40
Alamo Ranch
 
San Antonio, TX
 
—

 
 
 
2,380

 
26,982

 
—

 
1,804

 
2,380

 
28,786

 
31,166

 
(5,067
)
 
26,099

 
2009
 
1 - 40
Bulverde Oaks
 
San Antonio, TX
 
—

 
 
 
4,257

 
36,759

 
—

 
479

 
4,257

 
37,238

 
41,495

 
(1,119
)
 
40,376

 
2014
 
1 - 40
Haven at Blanco
 
San Antonio, TX
 
—

 
 
 
5,450

 
45,958

 
—

 
1,839

 
5,450

 
47,797

 
53,247

 
(5,586
)
 
47,661

 
2010
 
1 - 40
Stone Ranch at Westover Hills
 
San Antonio, TX
 
18,499

 
 
 
4,000

 
24,992

 
—

 
1,982

 
4,000

 
26,974

 
30,974

 
(5,693
)
 
25,281

 
2009
 
1 - 40
Cypresswood Court
 
Spring, TX
 
—

 
(2)
 
576

 
5,190

 
—

 
3,809

 
576

 
8,999

 
9,575

 
(6,289
)
 
3,286

 
1984
 
1 - 40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life used to compute depreciation in latest income statement (4)
 
 
 
 
 
 
 
 
Initial Cost
 
Costs Capitalized subsequent to Acquisition
 
Gross Amount carried at December 31, 2015  (3)
 
 
 
 
 
 
 
 
 
Property
 
Location
 
Encumbrances
 
 
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Total
 
Accumulated Depreciation
 
Net
 
Date of Construction
 
Villages at Kirkwood
 
Stafford, TX
 
—

 
 
 
1,918

 
15,846

 
—

 
2,803

 
1,918

 
18,649

 
20,567

 
(7,615
)
 
12,952

 
1996
 
1 - 40
Green Tree Place
 
Woodlands, TX
 
—

 
(2)
 
539

 
4,850

 
—

 
3,606

 
539

 
8,456

 
8,995

 
(5,777
)
 
3,218

 
1984
 
1 - 40
Stonefield Commons
 
Charlottesville, VA
 
—

 
 
 
11,044

 
36,689

 
—

 
293

 
11,044

 
36,982

 
48,026

 
(1,507
)
 
46,519

 
2013
 
1 - 40
Adalay Bay
 
Chesapeake, VA
 
—

 
 
 
5,280

 
31,341

 
—

 
1,773

 
5,280

 
33,114

 
38,394

 
(4,385
)
 
34,009

 
2002
 
1 - 40
Colonial Village at Greenbrier
 
Fredericksburg, VA
 
—

 
 
 
4,842

 
21,677

 
—

 
745

 
4,842

 
22,422

 
27,264

 
(2,065
)
 
25,199

 
1980
 
1 - 40
Seasons at Celebrate Virginia I
 
Fredericksburg, VA
 
—

 
 
 
6,960

 
32,083

 
7,530

 
38,468

 
14,490

 
70,551

 
85,041

 
(6,686
)
 
78,355

 
2011
 
1 - 40
Station Square at Cosner's Corner
 
Fredericksburg, VA
 
—

 
 
 
8,580

 
35,700

 
—

 
354

 
8,580

 
36,054

 
44,634

 
(2,412
)
 
42,222

 
2013
 
1 - 40
Colonial Village at Hampton Glen
 
Glen Allen, VA
 
—

 
 
 
4,851

 
21,678

 
—

 
1,059

 
4,851

 
22,737

 
27,588

 
(2,229
)
 
25,359

 
1986
 
1 - 40
Colonial Village at West End
 
Glen Allen, VA
 
12,611

 
 
 
4,661

 
18,908

 
—

 
1,258

 
4,661

 
20,166

 
24,827

 
(1,882
)
 
22,945

 
1987
 
1 - 40
Township
 
Hampton, VA
 
—

 
 
 
1,509

 
8,189

 
—

 
9,404

 
1,509

 
17,593

 
19,102

 
(10,817
)
 
8,285

 
1987
 
1 - 40
Colonial Village at Tradewinds
 
Hampton, VA
 
—

 
 
 
5,631

 
15,660

 
—

 
1,348

 
5,631

 
17,008

 
22,639

 
(1,697
)
 
20,942

 
1988
 
1 - 40
Colonial Village at Waterford
 
Midlothian, VA
 
—

 
 
 
6,733

 
29,221

 
—

 
1,819

 
6,733

 
31,040

 
37,773

 
(3,153
)
 
34,620

 
1989
 
1 - 40
Ashley Park
 
Richmond, VA
 
—

 
 
 
4,761

 
13,365

 
—

 
1,004

 
4,761

 
14,369

 
19,130

 
(1,618
)
 
17,512

 
1988
 
1 - 40
Colonial Village at Chase Gayton
 
Richmond, VA
 
—

 
 
 
6,021

 
29,004

 
—

 
1,808

 
6,021

 
30,812

 
36,833

 
(3,108
)
 
33,725

 
1984
 
1 - 40
Hamptons at Hunton Park
 
Richmond, VA
 
—

 
 
 
4,930

 
35,598

 
—

 
2,561

 
4,930

 
38,159

 
43,089

 
(6,237
)
 
36,852

 
2003
 
1 - 40
Retreat at West Creek
 
Richmond, VA
 
—

 
 
 
7,112

 
36,136

 
—

 
246

 
7,112

 
36,382

 
43,494

 
(542
)
 
42,952

 
2015
 
1 - 40
Colonial Village at Harbour Club
 
Virginia Beach, VA
 
—

 
 
 
3,483

 
14,796

 
—

 
843

 
3,483

 
15,639

 
19,122

 
(1,503
)
 
17,619

 
1988
 
1 - 40
Radius
 
Newport News, VA
 
—

 
 
 
5,040

 
36,481

 
—

 
98

 
5,040

 
36,579

 
41,619

 
(389
)
 
41,230

 
2012
 
1 - 40
Total Residential Properties
 
 
 
923,561

 
 
 
878,643

 
6,061,011

 
20,116

 
1,081,694

 
898,759

 
7,142,705

 
8,041,464

 
(1,479,667
)
 
6,561,797

 
 
 
 
Allure at Buckhead
 
Atlanta, GA
 
—

 
 
 
867

 
3,465

 
—

 
8

 
867

 
3,473

 
4,340

 
(424
)
 
3,916

 
2012
 
1 - 40
Highlands of West Village
 
Smyrna, GA
 
—

 
 
 
2,500

 
8,446

 
—

 
772

 
2,500

 
9,218

 
11,718

 
(370
)
 
11,348

 
2012
 
1 - 40
Colonial Promenade Nord du Lac
 
Covington, LA
 
—

 
 
 
5,810

 
19,138

 
—

 
—

 
5,810

 
19,138

 
24,948

 
(1,505
)
 
23,443

 
2010
 
1 - 40
The Denton
 
Kansas City, MO
 
—

 
 
 
700

 
4,439

 
—

 
—

 
700

 
4,439

 
5,139

 
—

 
5,139

 
2014
 
1 - 40
1225 South Church
 
Charlotte, NC
 
—

 
 
 
43

 
199

 
9

 
242

 
52

 
441

 
493

 
(67
)
 
426

 
2010
 
1 - 40
Bella Casita at Las Colinas
 
Irving, TX
 
—

 
(2)
 
46

 
186

 
—

 
126

 
46

 
312

 
358

 
(54
)
 
304

 
2007
 
1 - 40
Times Square at Craig Ranch
 
McKinney, TX
 
—

 
 
 
253

 
1,310

 
—

 
1,294

 
253

 
2,604

 
2,857

 
(279
)
 
2,578

 
2009
 
1 - 40
Total Commercial Properties
 

 
—

 
 
 
10,219

 
37,183

 
9

 
2,442

 
10,228

 
39,625

 
49,853

 
(2,699
)
 
47,154

 

 
 
Colonial Promenade Huntsville
 
Huntsville, AL
 
—

 
 
 
2,700

 
—

 
—

 
—

 
2,700

 
—

 
2,700

 
—

 
2,700

 
N/A
 
N/A
Colonial Grand at Randall Lakes (Phase II)
 
Jacksonville, FL
 
—

 
 
 
3,200

 
—

 
—

 
7,822

 
3,200

 
7,822

 
11,022

 
(2
)
 
11,020

 
N/A
 
N/A
The Denton (Phase II)
 
Kansas City, MO
 
—

 
 
 
770

 
—

 
—

 
734

 
770

 
734

 
1,504

 
—

 
1,504

 
N/A
 
N/A
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life used to compute depreciation in latest income statement (4)
 
 
 
 
 
 
 
 
Initial Cost
 
Costs Capitalized subsequent to Acquisition
 
Gross Amount carried at December 31, 2015  (3)
 
 
 
 
 
 
 
 
 
Property
 
Location
 
Encumbrances
 
 
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Land
 
Buildings and Fixtures
 
Total
 
Accumulated Depreciation
 
Net
 
Date of Construction
 
River's Walk (Phase II)
 
Charleston, SC
 
—

 
 
 
3,630

 
—

 
—

 
6,026

 
3,630

 
6,026

 
9,656

 
—

 
9,656

 
N/A
 
N/A
Station Square at Cosner's Corner
 
Fredericksburg, VA
 
—

 
 
 
4,245

 
—

 
—

 
14,256

 
4,245

 
14,256

 
18,501

 
—

 
18,501

 
N/A
 
N/A
Retreat at West Creek (Phase II)
 
Richmond, VA
 
—

 
 
 
3,000

 
—

 
—

 
632

 
3,000

 
632

 
3,632

 
—

 
3,632

 
N/A
 
N/A
Total Active Development Properties
 
 
 
—

 
 
 
17,545

 
—

 
—

 
29,470

 
17,545

 
29,470

 
47,015

 
(2
)
 
47,013

 
 
 
 
Total Properties
 
 
 
923,561

 
 
 
906,407

 
6,098,194

 
20,125

 
1,113,606

 
926,532

 
7,211,800

 
8,138,332

 
(1,482,368
)
 
6,655,964

 
 
 
 
Total Land Held for Future Developments
 
—

 
 
 
51,779

 
—

 
—

 
—

 
51,779

 
—

 
51,779

 
—

 
51,779

 
N/A
 
N/A
Corporate Properties
 
 
 
—

 
 
 
—

 
—

 
—

 
25,657

 
—

 
25,657

 
25,657

 
(16,845
)
 
8,812

 
Various
 
1-40
Total Other
 


 
 
 
51,779

 
—

 
—

 
25,657

 
51,779

 
25,657

 
77,436

 
(16,845
)
 
60,591

 
 
 
 
Total Real Estate Assets, net of Joint Ventures
 
$
923,561

 
 
 
$
958,186

 
$
6,098,194

 
$
20,125

 
$
1,139,263

 
$
978,311

 
$
7,237,457

 
$
8,215,768

 
$
(1,499,213
)
 
$
6,716,555

 
 
 
 

(1)
Encumbered by a $240.0 million Fannie Mae facility, with $240.0 million available and outstanding with a variable interest rate of 0.80% on which there exists five interest rate caps totaling $125 million at an average rate of 4.60% at December 31, 2015.
(2)
Encumbered by a $128 million loan with an outstanding balance of $128 million and a fixed interest rate of 5.08% which matures on June 10, 2021.  
(3)
The aggregate cost for Federal income tax purposes was approximately $7.22 billion at December 31, 2015. The aggregate cost for book purposes exceeds the total gross amount of real estate assets for Federal income tax purposes, principally due to purchase accounting adjustments recorded under accounting principles generally accepted in the United States of America.
(4)
Depreciation is on a straight line basis over the estimated useful asset life which ranges from 8 to 40 years for land improvements and buildings, 5 years for furniture, fixtures and equipment, and 6 months for fair market value of residential leases.


















Mid-America Apartment Communities, Inc.
Mid-America Apartments, L.P.
Schedule III
Real Estate Investments and Accumulated Depreciation
A summary of activity for real estate investments and accumulated depreciation is as follows (dollars in thousands):