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Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended
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Dec. 31, 2012
Schedule III - Real Estate and Accumulated Depreciation | Independence Realty Trust Schedule III Real Estate and Accumulated Depreciation As of December 31, 2012 (Dollars in thousands)
|  | Description |  | Location |  | Initial Cost |  |  | Cost of Improvements, net of Retirements |  |  | Gross Carrying Amount |  |  | Accumulated Depreciation- Building |  |  | Encumbrances (Unpaid Principal) |  |  | Year of Acquisition |  |  | Life of Depreciation |
Property Name |  |  |  | Land |  |  | Building |  |  | Land |  |  | Building |  |  | Land(a) |  |  | Building(a) |  |  |  |  |
Crestmont |  | Apartment |  | Marietta, GA |  | $ | 3,254 |  |  | $ | 13,044 |  |  | $ | — |  |  | $ | 140 |  |  | $ | 3,254 |  |  | $ | 13,184 |  |  | $ | 1,776 |  |  | $ | (6,750 | ) |  |  | 2011 |  |  |  | 40 |
Copper Mill |  | Apartment |  | Austin, TX |  |  | 3,472 |  |  |  | 13,958 |  |  |  | — |  |  |  | 233 |  |  |  | 3,472 |  |  |  | 14,191 |  |  |  | 1,927 |  |  |  | (7,350 | ) |  |  | 2011 |  |  |  | 40 |
Cumberland |  | Apartment |  | Smyrna, GA |  |  | 3,100 |  |  |  | 13,166 |  |  |  | — |  |  |  | 157 |  |  |  | 3,100 |  |  |  | 13,323 |  |  |  | 1,807 |  |  |  | (6,900 | ) |  |  | 2011 |  |  |  | 40 |
Heritage Trace |  | Apartment |  | Newport News, VA |  |  | 2,673 |  |  |  | 10,761 |  |  |  | — |  |  |  | 249 |  |  |  | 2,673 |  |  |  | 11,010 |  |  |  | 1,489 |  |  |  | (5,500 | ) |  |  | 2011 |  |  |  | 40 |
Belle Creek Apartments |  | Apartment |  | Henderson, CO |  |  | 1,890 |  |  |  | 7,596 |  |  |  | — |  |  |  | 239 |  |  |  | 1,890 |  |  |  | 7,835 |  |  |  | 893 |  |  |  | (10,575 | ) |  |  | 2011 |  |  |  | 40 |
Runaway Bay |  | Apartment |  | Indianapolis, IN |  |  | 3,079 |  |  |  | 12,318 |  |  |  | — |  |  |  | 6 |  |  |  | 3,079 |  |  |  | 12,324 |  |  |  | 53 |  |  |  | (10,238 | ) |  |  | 2012 |  |  |  | 40 |
Tresa at Arrowhead |  | Apartment |  | Phoenix, AZ |  |  | 7,080 |  |  |  | 28,500 |  |  |  | — |  |  |  | 221 |  |  |  | 7,080 |  |  |  | 28,721 |  |  |  | 2,675 |  |  |  | (27,500 | ) |  |  | 2011 |  |  |  | 40 |
Centrepoint Apartments |  | Apartment |  | Tucson, AZ |  |  | 5,620 |  |  |  | 22,720 |  |  |  | — |  |  |  | 89 |  |  |  | 5,620 |  |  |  | 22,809 |  |  |  | 1,663 |  |  |  | (17,600 | ) |  |  | 2011 |  |  |  | 40 |
|  |  |  |  |  | $ | 30,168 |  |  | $ | 122,063 |  |  | $ | — |  |  | $ | 1,334 |  |  | $ | 30,168 |  |  | $ | 123,397 |  |  | $ | 12,283 |  |  | $ | (92,413 | ) |  |  |  |  |  |  |  |
(a) | The aggregate cost basis for federal income tax purposes of our investments in real estate approximates the carrying amount at December 31, 2012.
Investments in Real Estate |  | For the Year Ended December 31, 2012 |  |  | For the Year Ended December 31, 2011 |
Balance, beginning of period |  | $ | 137,428 |  |  | $ | 0 |
Additions during period: |  |  |  |  |  |  |  |
Acquisitions |  |  | 15,397 |  |  |  | 136,834 |
Improvements to land and building |  |  | 1,148 |  |  |  | 868 |
Deductions during period: |  |  |  |  |  |  |  |
Dispositions of real estate |  |  | (408 | ) |  |  | (274 | )
Deconsolidation of real estate |  |  | 0 |  |  |  | 0 |
Balance, end of period: |  | $ | 153,565 |  |  | $ | 137,428 |
Accumulated Depreciation |  | For the Year Ended December 31, 2012 |  |  | For the Year Ended December 31, 2011 |
Balance, beginning of period |  | $ | 9,304 |  |  | $ | 0 |
Depreciation expense |  |  | 3,387 |  |  |  | 1,771 |
Dispositions of real estate |  |  | (408 | ) |  |  | (274 | )
Balances at acquisition(a) |  |  | 0 |  |  |  | 7,807 |
Balance, end of period: |  | $ | 12,283 |  |  | $ | 9,304 |
(a) | Assets and liabilities were recorded at our sponsor’s carrying amount pursuant to Staff Accounting Bulletin Topic 5G and ASC 805-50-30-5.

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- Definition The entire disclosure for real estate and accumulated depreciation. This may include a schedule that describes the property and lists the initial cost of land, buildings and improvements, improvements and carrying costs capitalized after acquisition, and the total carrying cost for land, buildings and improvements for each property and in aggregate. The schedule also lists the accumulated depreciation for each property and in aggregate, the date each property was constructed and acquired, the useful life used to calculate depreciation and any encumbrances on the properties. The entity provides a reconciliation of the carrying amount of real estate from the beginning of the period to the end of the period. Any real estate investments that have been written down or reserved against are described, including the basis of the write-down. A material amount of intercompany profit in the total carrying amount of real estate is disclosed. The aggregate cost of all real estate investments for federal income tax purposes is also disclosed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Subparagraph Schedule III -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 28 -Article 12 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04.(c) Schedule III) -URI http://asc.fasb.org/extlink&oid=6882300&loc=d3e5864-122674 + Details
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