Schedule III-Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2013

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III-Real Estate and Accumulated Depreciation Disclosure

Depreciation of the Company's investment in buildings and improvements reflected in the consolidated statements of operations are calculated over the estimated useful lives of the asset as follows:



Buildings and improvements	5 - 40 years
Tenant improvements	5 - 7 years
Equipment and furnishings	5 - 7 years

The changes in total real estate assets for the three years ended December 31, 2013 are as follows:



	2013			2012			2011
Balances, beginning of year	$	9,012,706		$	7,489,735		$	6,908,507
Additions	943,159			1,909,530			784,717
Dispositions and retirements	(774,527		)	(386,559		)	(203,489		)
Balances, end of year	$	9,181,338		$	9,012,706		$	7,489,735

The aggregate gross cost of the property included in the table above for federal income tax purposes was $7,343,322 (unaudited) at December 31, 2013.

The changes in accumulated depreciation for the three years ended December 31, 2013 are as follows:



	2013			2012			2011
Balances, beginning of year	$	1,533,160		$	1,410,692		$	1,234,380
Additions	284,500			241,231			223,630
Dispositions and retirements	(258,088		)	(118,763		)	(47,318		)
Balances, end of year	$	1,559,572		$	1,533,160		$	1,410,692

See accompanying report of independent registered public accounting firm.