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Schedule III - Real Estate and Accumulated Depreciation
12 Months Ended
Dec. 31, 2018
Real Estate And Accumulated Depreciation Disclosure [Abstract]  
Schedule III - Real Estate and Accumulated Depreciation

Independence Realty Trust

Schedule III - Real Estate and Accumulated Depreciation

As of December 31, 2018

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Cost of

 

 

Gross Carrying

 

 

Accumulated

 

 

Encumbrances

 

 

 

Property

 

 

 

Initial Cost

 

 

Improvements,

 

 

Amount

 

 

Depreciation-

 

 

(Unpaid

 

 

Year of

Name

 

Location

 

Land

 

 

Building

 

 

Land

 

 

Building

 

 

Land

 

 

Building

 

 

Building

 

 

Principal)

 

 

Acquisition

Crestmont

 

Marietta, GA

 

$

3,254

 

 

$

13,017

 

 

$

-

 

 

$

4,714

 

 

$

3,254

 

 

$

17,731

 

 

$

(4,361

)

 

$

(6,218

)

 

2011

Runaway Bay

 

Indianapolis, IN

 

 

3,079

 

 

 

12,318

 

 

 

-

 

 

 

1,010

 

 

 

3,079

 

 

 

13,328

 

 

 

(2,293

)

 

 

(9,206

)

 

2012

Reserve at Eagle Ridge (a)

 

Waukegan, IL

 

 

5,800

 

 

 

22,743

 

 

 

-

 

 

 

1,346

 

 

 

5,800

 

 

 

24,089

 

 

 

(2,862

)

 

 

(18,850

)

 

2014

Windrush

 

Edmond, OK

 

 

1,677

 

 

 

7,464

 

 

 

-

 

 

 

649

 

 

 

1,677

 

 

 

8,113

 

 

 

(1,135

)

 

 

-

 

 

2014

Heritage Park

 

Oklahoma, OK

 

 

4,234

 

 

 

12,232

 

 

 

-

 

 

 

2,111

 

 

 

4,234

 

 

 

14,343

 

 

 

(2,204

)

 

 

-

 

 

2014

Raindance

 

Oklahoma, OK

 

 

3,503

 

 

 

10,051

 

 

 

-

 

 

 

1,746

 

 

 

3,503

 

 

 

11,797

 

 

 

(1,826

)

 

 

-

 

 

2014

Augusta

 

Oklahoma, OK

 

 

1,296

 

 

 

9,930

 

 

 

-

 

 

 

953

 

 

 

1,296

 

 

 

10,883

 

 

 

(1,526

)

 

 

-

 

 

2014

Invitational

 

Oklahoma, OK

 

 

1,924

 

 

 

16,852

 

 

 

-

 

 

 

1,161

 

 

 

1,924

 

 

 

18,013

 

 

 

(2,511

)

 

 

-

 

 

2014

Kings Landing

 

Creve Coeur, MO

 

 

2,513

 

 

 

29,873

 

 

 

-

 

 

 

961

 

 

 

2,513

 

 

 

30,834

 

 

 

(3,797

)

 

 

(20,619

)

 

2014

Carrington (a)

 

Little Rock, AR

 

 

1,715

 

 

 

19,526

 

 

 

-

 

 

 

1,823

 

 

 

1,715

 

 

 

21,349

 

 

 

(2,445

)

 

 

(14,235

)

 

2014

Walnut Hill

 

Cordova, TN

 

 

2,230

 

 

 

25,251

 

 

 

-

 

 

 

1,285

 

 

 

2,230

 

 

 

26,536

 

 

 

(3,234

)

 

 

(18,650

)

 

2014

Lenox Place

 

Raleigh, NC

 

 

3,480

 

 

 

20,482

 

 

 

-

 

 

 

900

 

 

 

3,480

 

 

 

21,382

 

 

 

(2,544

)

 

 

(15,991

)

 

2014

Stonebridge Crossing

 

Memphis, TN

 

 

3,100

 

 

 

26,223

 

 

 

-

 

 

 

2,779

 

 

 

3,100

 

 

 

29,002

 

 

 

(3,454

)

 

 

(19,370

)

 

2014

Bennington Pond

 

Groveport, OH

 

 

2,400

 

 

 

14,828

 

 

 

-

 

 

 

1,044

 

 

 

2,400

 

 

 

15,872

 

 

 

(1,926

)

 

 

(11,375

)

 

2014

Prospect Park

 

Louisville, KY

 

 

2,837

 

 

 

11,193

 

 

 

-

 

 

 

540

 

 

 

2,837

 

 

 

11,733

 

 

 

(1,262

)

 

 

(9,230

)

 

2014

Brookside

 

Louisville, KY

 

 

3,947

 

 

 

16,502

 

 

 

-

 

 

 

887

 

 

 

3,947

 

 

 

17,389

 

 

 

(1,907

)

 

 

(13,455

)

 

2014

Jamestown

 

Louisville, KY

 

 

7,034

 

 

 

27,730

 

 

 

-

 

 

 

7,551

 

 

 

7,034

 

 

 

35,281

 

 

 

(3,960

)

 

 

(22,880

)

 

2014

Oxmoor

 

Louisville, KY

 

 

7,411

 

 

 

47,095

 

 

 

-

 

 

 

3,798

 

 

 

7,411

 

 

 

50,893

 

 

 

(5,370

)

 

 

(35,815

)

 

2014

Meadows

 

Louisville, KY

 

 

6,857

 

 

 

30,030

 

 

 

-

 

 

 

1,782

 

 

 

6,857

 

 

 

31,812

 

 

 

(3,513

)

 

 

(24,245

)

 

2014

Stonebridge at the Ranch (a)

 

Little Rock, AR

 

 

3,315

 

 

 

27,954

 

 

 

-

 

 

 

995

 

 

 

3,315

 

 

 

28,949

 

 

 

(2,625

)

 

 

(20,527

)

 

2014

Iron Rock Ranch

 

Austin, TX

 

 

5,860

 

 

 

28,911

 

 

 

-

 

 

 

1,163

 

 

 

5,860

 

 

 

30,074

 

 

 

(3,295

)

 

 

(22,900

)

 

2014

Bayview Club

 

Indianapolis, IN

 

 

2,525

 

 

 

22,506

 

 

 

-

 

 

 

1,372

 

 

 

2,525

 

 

 

23,878

 

 

 

(2,388

)

 

 

-

 

 

2015

Arbors River Oaks

 

Memphis, TN

 

 

2,100

 

 

 

19,045

 

 

 

-

 

 

 

1,480

 

 

 

2,100

 

 

 

20,525

 

 

 

(1,896

)

 

 

-

 

 

2015

Aston

 

Wake Forest, NC

 

 

3,450

 

 

 

34,333

 

 

 

-

 

 

 

424

 

 

 

3,450

 

 

 

34,757

 

 

 

(2,887

)

 

 

(25,050

)

 

2015

Avenues at Craig Ranch

 

McKinney, TX

 

 

5,500

 

 

 

42,054

 

 

 

-

 

 

 

566

 

 

 

5,500

 

 

 

42,620

 

 

 

(3,536

)

 

 

(31,250

)

 

2015

Bridge Pointe

 

Huntsville, AL

 

 

1,500

 

 

 

14,306

 

 

 

-

 

 

 

512

 

 

 

1,500

 

 

 

14,818

 

 

 

(1,293

)

 

 

-

 

 

2015

Creekstone at RTP

 

Durham, NC

 

 

5,376

 

 

 

32,727

 

 

 

-

 

 

 

386

 

 

 

5,376

 

 

 

33,113

 

 

 

(2,766

)

 

 

(22,136

)

 

2015

Fountains Southend

 

Charlotte, NC

 

 

4,368

 

 

 

37,254

 

 

 

-

 

 

 

418

 

 

 

4,368

 

 

 

37,672

 

 

 

(3,089

)

 

 

(22,975

)

 

2015

Fox Trails

 

Plano, TX

 

 

5,700

 

 

 

21,944

 

 

 

-

 

 

 

1,452

 

 

 

5,700

 

 

 

23,396

 

 

 

(2,082

)

 

 

-

 

 

2015

Lakeshore on the Hill

 

Chattanooga, TN

 

 

925

 

 

 

10,212

 

 

 

-

 

 

 

723

 

 

 

925

 

 

 

10,935

 

 

 

(968

)

 

 

-

 

 

2015

Millenia 700

 

Orlando, FL

 

 

5,500

 

 

 

41,752

 

 

 

-

 

 

 

921

 

 

 

5,500

 

 

 

42,673

 

 

 

(3,552

)

 

 

(28,746

)

 

2015

Miller Creek at German Town

 

Memphis, TN

 

 

3,300

 

 

 

53,504

 

 

 

-

 

 

 

364

 

 

 

3,300

 

 

 

53,868

 

 

 

(4,442

)

 

 

-

 

 

2015

Pointe at Canyon Ridge

 

Atlanta, GA

 

 

11,100

 

 

 

36,995

 

 

 

-

 

 

 

5,314

 

 

 

11,100

 

 

 

42,309

 

 

 

(3,883

)

 

 

-

 

 

2015

St James at Goose Creek

 

Goose Creek, SC

 

 

3,780

 

 

 

27,695

 

 

 

-

 

 

 

609

 

 

 

3,780

 

 

 

28,304

 

 

 

(2,450

)

 

 

-

 

 

2015

Talison Row at Daniel Island

 

Daniel Island, SC

 

 

5,480

 

 

 

41,409

 

 

 

-

 

 

 

441

 

 

 

5,480

 

 

 

41,850

 

 

 

(3,500

)

 

 

(32,229

)

 

2015

Trails at Signal Mountain

 

Chattanooga, TN

 

 

1,200

 

 

 

12,895

 

 

 

-

 

 

 

715

 

 

 

1,200

 

 

 

13,610

 

 

 

(1,215

)

 

 

-

 

 

2015

Vue at Knoll Trail

 

Dallas, TX

 

 

3,100

 

 

 

6,077

 

 

 

-

 

 

 

259

 

 

 

3,100

 

 

 

6,336

 

 

 

(570

)

 

 

-

 

 

2015

Waterstone at Brier Creek

 

Raleigh, NC

 

 

4,200

 

 

 

34,651

 

 

 

-

 

 

 

320

 

 

 

4,200

 

 

 

34,971

 

 

 

(2,899

)

 

 

(16,040

)

 

2015

Waterstone Big Creek

 

Alpharetta, GA

 

 

7,600

 

 

 

61,971

 

 

 

-

 

 

 

325

 

 

 

7,600

 

 

 

62,296

 

 

 

(5,114

)

 

 

(49,680

)

 

2015

Westmont Commons

 

Asheville, NC

 

 

2,750

 

 

 

25,225

 

 

 

-

 

 

 

531

 

 

 

2,750

 

 

 

25,756

 

 

 

(2,207

)

 

 

-

 

 

2015

Lakes at Northdale

 

Tampa, FL

 

 

3,898

 

 

 

25,543

 

 

 

-

 

 

 

708

 

 

 

3,898

 

 

 

26,251

 

 

 

(1,270

)

 

 

-

 

 

2017

Haverford Place

 

Lexington, KY

 

 

3,927

 

 

 

10,100

 

 

 

-

 

 

 

1,010

 

 

 

3,927

 

 

 

11,110

 

 

 

(539

)

 

 

-

 

 

2017

South Terrace

 

Durham, NC

 

 

5,621

 

 

 

36,923

 

 

 

-

 

 

 

4,615

 

 

 

5,621

 

 

 

41,538

 

 

 

(1,759

)

 

 

-

 

 

2017

Cherry Grove

 

North Myrtle Beach, SC

 

 

550

 

 

 

15,369

 

 

 

-

 

 

 

710

 

 

 

550

 

 

 

16,079

 

 

 

(553

)

 

 

-

 

 

2017

Kensington Commons

 

Canal Winchester, OH

 

 

3,400

 

 

 

20,703

 

 

 

-

 

 

 

732

 

 

 

3,400

 

 

 

21,435

 

 

 

(699

)

 

 

-

 

 

2017

Schirm Farms

 

Canal Winchester, OH

 

 

3,960

 

 

 

19,488

 

 

 

-

 

 

 

972

 

 

 

3,960

 

 

 

20,460

 

 

 

(660

)

 

 

-

 

 

2017

Riverchase

 

Indianapolis, IN

 

 

1,460

 

 

 

17,250

 

 

 

-

 

 

 

393

 

 

 

1,460

 

 

 

17,643

 

 

 

(563

)

 

 

-

 

 

2017

Live Oak Trace

 

Baton Rouge, LA

 

 

1,060

 

 

 

27,362

 

 

 

-

 

 

 

188

 

 

 

1,060

 

 

 

27,550

 

 

 

(813

)

 

 

-

 

 

2017

Tides at Calabash

 

Wilmington, NC

 

 

1,880

 

 

 

12,214

 

 

 

-

 

 

 

265

 

 

 

1,880

 

 

 

12,479

 

 

 

(352

)

 

 

-

 

 

2017

Brunswick Point

 

Wilmington, NC

 

 

2,150

 

 

 

28,214

 

 

 

-

 

 

 

795

 

 

 

2,150

 

 

 

29,009

 

 

 

(749

)

 

 

(19,000

)

 

2017

Creekside Corners

 

Lithonia, GA

 

 

6,140

 

 

 

37,282

 

 

 

-

 

 

 

2,305

 

 

 

6,140

 

 

 

39,587

 

 

 

(965

)

 

 

(23,500

)

 

2018

Hartshire Lakes

 

Bargersville, IN

 

 

3,070

 

 

 

24,206

 

 

 

-

 

 

 

308

 

 

 

3,070

 

 

 

24,514

 

 

 

(575

)

 

 

(16,000

)

 

2018

The Chelsea

 

Columbus, OH

 

 

2,739

 

 

 

33,694

 

 

 

-

 

 

 

170

 

 

 

2,739

 

 

 

33,864

 

 

 

(779

)

 

 

-

 

 

2018

Avalon Oaks

 

Columbus, OH

 

 

4,189

 

 

 

18,297

 

 

 

-

 

 

 

857

 

 

 

4,189

 

 

 

19,154

 

 

 

(397

)

 

 

-

 

 

2018

Bridgeview

 

Tampa, FL

 

 

10,671

 

 

 

31,949

 

 

 

-

 

 

 

134

 

 

 

10,671

 

 

 

32,083

 

 

 

(336

)

 

 

-

 

 

2018

Collier Park

 

Grove City, OH

 

 

2,325

 

 

 

18,676

 

 

 

-

 

 

 

109

 

 

 

2,325

 

 

 

18,785

 

 

 

(197

)

 

 

-

 

 

2018

Waterford Landing

 

McDonough, GA

 

 

2,867

 

 

 

27,467

 

 

 

-

 

 

 

57

 

 

 

2,867

 

 

 

27,524

 

 

 

(114

)

 

 

(15,500

)

 

2018

Lucerne

 

Brandon, FL

 

 

3,114

 

 

 

43,537

 

 

 

-

 

 

 

7

 

 

 

3,114

 

 

 

43,544

 

 

 

(95

)

 

 

-

 

 

2018

Total Investment in Real Estate

 

 

 

$

219,941

 

 

$

1,455,034

 

 

$

 

 

$

70,665

 

 

$

219,941

 

 

$

1,525,699

 

 

$

(120,202

)

 

$

(585,672

)

 

 

 

 

(a)

This property was classified as held for sale as of December 31, 2018.


 

 

For the year ended

 

Investments in Real Estate

 

December 31, 2018 (a)

 

 

December 31, 2017

 

 

December 31, 2016 (b)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

1,504,156

 

 

$

1,319,350

 

 

$

1,372,015

 

Additions during period:

 

 

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

 

270,220

 

 

 

241,071

 

 

 

 

Improvements to land and building

 

 

41,587

 

 

 

14,368

 

 

 

10,664

 

Deductions during period:

 

 

 

 

 

 

 

 

 

 

 

 

Dispositions of real estate

 

 

(69,915

)

 

 

(70,633

)

 

 

(63,329

)

Asset write-offs

 

 

(408

)

 

 

 

 

 

 

 

Balance, end of period:

 

$

1,745,640

 

 

$

1,504,156

 

 

$

1,319,350

 

 

 

 

For the year ended

 

Accumulated Depreciation

 

December 31, 2018 (a)

 

 

December 31, 2017

 

 

December 31, 2016 (b)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

84,097

 

 

$

60,719

 

 

$

39,638

 

Depreciation expense

 

 

41,652

 

 

 

32,586

 

 

 

31,085

 

Dispositions of real estate

 

 

(5,139

)

 

 

(9,208

)

 

 

(10,004

)

Asset write-off

 

 

(408

)

 

 

 

 

 

 

Balance, end of period:

 

$

120,202

 

 

$

84,097

 

 

$

60,719

 

 

 

(a)

Includes properties classified as held for sale as of December 31, 2018.

 

(b)

Includes properties classified as held for sale as of December 31, 2016.