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Schedule III - Real Estate and Accumulated Depreciation
12 Months Ended
Dec. 31, 2014
Schedule III - Real Estate and Accumulated Depreciation  
Schedule III - Real Estate and Accumulated Depreciation

 

American Homes 4 Rent
Schedule III—Real Estate and Accumulated Depreciation as of December 31, 2014
(dollars in thousands)

                                                                                                                                                                                    

 

 

 

 

Initial Cost to Company

 

Cost Capitalized
Subsequent to
Acquisition

 

Total Cost
as of December 31, 2014

 

 

 

 

 

 

 

Markets

 

Number of
Single-Family
Homes

 

Land

 

Buildings and
Improvements

 

Buildings and
Improvements

 

Land

 

Buildings and
Improvements

 

Total

 

Accumulated
Depreciation

 

Net Cost
Basis

 

Date of
Acquisition

 

Albuquerque

 

 

213

 

$

6,513

 

$

24,181

 

$

2,896

 

$

6,513

 

$

27,077

 

$

33,590

 

$

(1,186

)

$

32,404

 

 

2013-2014

 

Antelope Valley

 

 

6

 

 

212

 

 

898

 

 

224

 

 

212

 

 

1,122

 

 

1,334

 

 

(44

)

 

1,290

 

 

2012

 

Atlanta

 

 

2,257

 

 

75,611

 

 

246,916

 

 

41,283

 

 

75,611

 

 

288,199

 

 

363,810

 

 

(13,243

)

 

350,567

 

 

2012-2014

 

Augusta

 

 

181

 

 

5,244

 

 

20,617

 

 

2,617

 

 

5,244

 

 

23,234

 

 

28,478

 

 

(723

)

 

27,755

 

 

2013-2014

 

Austin

 

 

629

 

 

14,546

 

 

66,563

 

 

10,951

 

 

14,546

 

 

77,514

 

 

92,060

 

 

(2,974

)

 

89,086

 

 

2012-2014

 

Bay Area

 

 

91

 

 

6,610

 

 

19,948

 

 

1,602

 

 

6,610

 

 

21,550

 

 

28,160

 

 

(1,015

)

 

27,145

 

 

2012-2014

 

Boise

 

 

282

 

 

7,925

 

 

28,790

 

 

3,114

 

 

7,925

 

 

31,904

 

 

39,829

 

 

(1,263

)

 

38,566

 

 

2013-2014

 

Central Valley

 

 

174

 

 

6,800

 

 

22,260

 

 

2,333

 

 

6,800

 

 

24,593

 

 

31,393

 

 

(1,578

)

 

29,815

 

 

2012-2013

 

Charleston

 

 

534

 

 

19,602

 

 

67,246

 

 

8,108

 

 

19,602

 

 

75,354

 

 

94,956

 

 

(2,835

)

 

92,121

 

 

2012-2014

 

Charlotte

 

 

1,975

 

 

64,366

 

 

251,767

 

 

22,426

 

 

64,366

 

 

274,193

 

 

338,559

 

 

(9,480

)

 

329,079

 

 

2012-2014

 

Chicago

 

 

1,968

 

 

60,001

 

 

238,239

 

 

41,611

 

 

60,001

 

 

279,850

 

 

339,851

 

 

(11,520

)

 

328,331

 

 

2012-2014

 

Cincinnati

 

 

1,776

 

 

56,556

 

 

217,595

 

 

30,298

 

 

56,556

 

 

247,893

 

 

304,449

 

 

(10,458

)

 

293,991

 

 

2012-2014

 

Colorado Springs

 

 

21

 

 

871

 

 

2,825

 

 

620

 

 

871

 

 

3,445

 

 

4,316

 

 

(214

)

 

4,102

 

 

2013

 

Columbia

 

 

288

 

 

6,726

 

 

33,429

 

 

3,552

 

 

6,726

 

 

36,981

 

 

43,707

 

 

(1,333

)

 

42,374

 

 

2013-2014

 

Columbus

 

 

1,265

 

 

32,579

 

 

134,691

 

 

23,364

 

 

32,579

 

 

158,055

 

 

190,634

 

 

(5,913

)

 

184,721

 

 

2012-2014

 

Dallas-Fort Worth

 

 

2,837

 

 

78,980

 

 

319,641

 

 

52,842

 

 

78,980

 

 

372,483

 

 

451,463

 

 

(17,447

)

 

434,016

 

 

2012-2014

 

Denver

 

 

642

 

 

30,894

 

 

126,449

 

 

11,247

 

 

30,894

 

 

137,696

 

 

168,590

 

 

(3,494

)

 

165,096

 

 

2012-2014

 

Fort Myers

 

 

33

 

 

799

 

 

4,824

 

 

510

 

 

799

 

 

5,334

 

 

6,133

 

 

(333

)

 

5,800

 

 

2012-2014

 

Greensboro

 

 

532

 

 

15,646

 

 

68,856

 

 

6,292

 

 

15,646

 

 

75,148

 

 

90,794

 

 

(2,813

)

 

87,981

 

 

2013-2014

 

Greenville

 

 

552

 

 

13,961

 

 

72,490

 

 

7,149

 

 

13,961

 

 

79,639

 

 

93,600

 

 

(3,058

)

 

90,542

 

 

2013-2014

 

Houston

 

 

1,772

 

 

48,939

 

 

220,362

 

 

36,263

 

 

48,939

 

 

256,625

 

 

305,564

 

 

(11,085

)

 

294,479

 

 

2012-2014

 

Indiana

 

 

2,675

 

 

73,017

 

 

285,887

 

 

44,338

 

 

73,017

 

 

330,225

 

 

403,242

 

 

(15,581

)

 

387,661

 

 

2012-2014

 

Inland Empire

 

 

130

 

 

11,901

 

 

19,554

 

 

1,339

 

 

11,901

 

 

20,893

 

 

32,794

 

 

(388

)

 

32,406

 

 

2012-2014

 

Jacksonville

 

 

1,357

 

 

36,407

 

 

143,011

 

 

22,478

 

 

36,407

 

 

165,489

 

 

201,896

 

 

(7,965

)

 

193,931

 

 

2012-2014

 

Knoxville

 

 

298

 

 

9,785

 

 

46,239

 

 

3,790

 

 

9,785

 

 

50,029

 

 

59,814

 

 

(2,138

)

 

57,676

 

 

2013-2014

 

Las Vegas

 

 

908

 

 

27,115

 

 

115,208

 

 

16,940

 

 

27,115

 

 

132,148

 

 

159,263

 

 

(7,430

)

 

151,833

 

 

2011-2014

 

Memphis

 

 

516

 

 

16,166

 

 

55,981

 

 

4,811

 

 

16,166

 

 

60,792

 

 

76,958

 

 

(968

)

 

75,990

 

 

2013-2014

 

Miami

 

 

305

 

 

8,386

 

 

45,628

 

 

6,958

 

 

8,386

 

 

52,586

 

 

60,972

 

 

(2,671

)

 

58,301

 

 

2012-2014

 

Milwaukee

 

 

127

 

 

7,481

 

 

22,367

 

 

2,058

 

 

7,481

 

 

24,425

 

 

31,906

 

 

(1,481

)

 

30,425

 

 

2013

 

Nashville

 

 

1,309

 

 

49,167

 

 

199,567

 

 

21,542

 

 

49,167

 

 

221,109

 

 

270,276

 

 

(10,874

)

 

259,402

 

 

2012-2014

 

Oklahoma City

 

 

339

 

 

9,213

 

 

47,067

 

 

4,681

 

 

9,213

 

 

51,748

 

 

60,961

 

 

(958

)

 

60,003

 

 

2012-2014

 

Orlando

 

 

981

 

 

28,000

 

 

120,849

 

 

16,308

 

 

28,000

 

 

137,157

 

 

165,157

 

 

(6,148

)

 

159,009

 

 

2011-2014

 

Phoenix

 

 

1,381

 

 

39,048

 

 

158,826

 

 

21,382

 

 

39,048

 

 

180,208

 

 

219,256

 

 

(9,868

)

 

209,388

 

 

2011-2014

 

Portland

 

 

204

 

 

14,302

 

 

23,731

 

 

1,726

 

 

14,302

 

 

25,457

 

 

39,759

 

 

(1,384

)

 

38,375

 

 

2013

 

Raleigh

 

 

1,297

 

 

45,699

 

 

168,954

 

 

16,831

 

 

45,699

 

 

185,785

 

 

231,484

 

 

(7,226

)

 

224,258

 

 

2012-2014

 

Sacramento

 

 

29

 

 

1,664

 

 

3,760

 

 

275

 

 

1,664

 

 

4,035

 

 

5,699

 

 

(72

)

 

5,627

 

 

2014

 

Salt Lake City

 

 

981

 

 

54,708

 

 

140,000

 

 

17,325

 

 

54,708

 

 

157,325

 

 

212,033

 

 

(7,344

)

 

204,689

 

 

2012-2014

 

San Antonio

 

 

790

 

 

20,833

 

 

87,791

 

 

9,500

 

 

20,833

 

 

97,291

 

 

118,124

 

 

(2,848

)

 

115,276

 

 

2012-2014

 

Savannah/Hilton Head

 

 

347

 

 

10,416

 

 

40,171

 

 

3,968

 

 

10,416

 

 

44,139

 

 

54,555

 

 

(1,155

)

 

53,400

 

 

2013-2014

 

Seattle

 

 

257

 

 

12,579

 

 

36,685

 

 

4,429

 

 

12,579

 

 

41,114

 

 

53,693

 

 

(2,062

)

 

51,631

 

 

2012-2014

 

Tampa

 

 

1,486

 

 

53,579

 

 

201,583

 

 

24,335

 

 

53,579

 

 

225,918

 

 

279,497

 

 

(10,156

)

 

269,341

 

 

2012-2014

 

Tucson

 

 

396

 

 

7,650

 

 

38,278

 

 

6,643

 

 

7,650

 

 

44,921

 

 

52,571

 

 

(2,990

)

 

49,581

 

 

2011-2014

 

Winston Salem

 

 

458

 

 

13,912

 

 

56,681

 

 

5,160

 

 

13,912

 

 

61,841

 

 

75,753

 

 

(2,547

)

 

73,206

 

 

2013-2014

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total

 

 

34,599

 

$

1,104,409

 

$

4,246,405

 

$

566,119

 

$

1,104,409

 

$

4,812,524

 

$

5,916,933

 

$

(206,262

)

$

5,710,671

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Change in Total Real Estate Assets

                                                                                                                                                                                    

 

 

Years ended December 31

 

 

 

2014

 

2013

 

2012

 

Balance, beginning of period

 

$

3,923,624

 

$

507,845

 

$

3,516

 

Acquisitions and building improvements

 

 

2,004,742

 

 

3,423,903

 

 

504,329

 

Dispositions

 

 

(11,433

)

 

(8,124

)

 

—  

 

​  

​  

​  

​  

​  

​  

Balance, end of period

 

$

5,916,933

 

$

3,923,624

 

$

507,845

 

​  

​  

​  

​  

​  

​  

 

Change in Accumulated Depreciation

                                                                                                                                                                                    

 

 

Years ended December 31

 

 

 

2014

 

2013

 

2012

 

Balance, beginning of period

 

$

(62,202

)

$

(2,132

)

$

(21

)

Depreciation

 

 

(144,270

)

 

(60,254

)

 

(2,111

)

Dispositions

 

 

210

 

 

184

 

 

—  

 

​  

​  

​  

​  

​  

​  

Balance, end of period

 

$

(206,262

)

$

(62,202

)

$

(2,132

)

​  

​  

​  

​  

​  

​