Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

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	Description	Location	Land		Building		Land		Building		Land(a)		Building(a)		Accumulated Depreciation- Building		Encumbrances (Unpaid Principal)			Year of Acquisition		Life of Depreciation
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.

- 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.

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