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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

       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.