

			Initial Cost (A)										Gross amount at which carried at end of period
PROPERTY NAME Location	Encumbrance		Land		Buildings and Improvements		Adjustments to Land Basis (B)			Adjustments to Basis (B)			Land and Improvements		Buildings and Improvements		Total (C)		Accumulated Depreciation (D,E)		Date of Completion of Construction or Date of Acquisition
BEAR CREEK VILLAGE CENTER Wildomar, CA	$	13,020	$	3,523	$	12,384	$	—		$	245		$	3,523	$	12,629	$	16,152	$	4,580	2009
BENT TREE PLAZA Raleigh, NC	—		1,983		7,093		—			1,646			1,983		8,739		10,722		2,809		2009
BOYNTON COMMONS Miami, FL	—		11,400		17,315		—			2,213			11,400		19,528		30,928		5,827		2010
BROOKS CORNER San Antonio, TX	12,557		10,600		13,648		—			3,469			10,600		17,117		27,717		7,751		2006
BUCKHEAD CROSSING Atlanta, GA	—		7,565		27,104		—			1,013			7,565		28,117		35,682		9,933		2009
CAMPUS MARKETPLACE San Marcos, CA	41,000		26,928		43,445		55			(90		)	26,983		43,355		70,338		3,109		2017
CARY PARK TOWN CENTER Cary, NC	—		5,555		17,280		—			—			5,555		17,280		22,835		899		2017
CENTERPLACE OF GREELEY Greeley, CO	14,087		3,904		14,715		—			655			3,904		15,370		19,274		5,717		2009
CHESAPEAKE COMMONS Chesapeake, VA	—		2,669		10,839		—			62			2,669		10,901		13,570		4,705		2007
CHEYENNE MEADOWS Colorado Springs, CO	—		2,023		6,991		—			399			2,023		7,390		9,413		2,776		2009
COWETA CROSSING Newnan, GA	—		1,143		4,590		—			16			1,143		4,606		5,749		1,713		2009
CROSSROADS AT CHESAPEAKE SQUARE Chesapeake, VA	—		3,970		13,732		(296		)	2,033			3,674		15,765		19,439		7,017		2007



		Initial Cost (A)					Gross amount at which carried at end of period
PROPERTY NAME Location	Encumbrance	Land	Buildings and Improvements	Adjustments to Land Basis (B)		Adjustments to Basis (B)	Land and Improvements	Buildings and Improvements	Total (C)	Accumulated Depreciation (D,E)	Date of Completion of Construction or Date of Acquisition
CUSTER CREEK VILLAGE Richardson, TX	—	4,750	12,245	—		355	4,750	12,600	17,350	5,187	2007
ELDRIDGE TOWN CENTER Houston, TX	—	3,200	16,663	—		771	3,200	17,434	20,634	8,362	2005
GARDEN VILLAGE San Pedro, CA	—	3,188	16,522	—		173	3,188	16,695	19,883	5,794	2009
GATEWAY MARKET CENTER Tampa, FL	—	13,600	4,992	—		1,082	13,600	6,074	19,674	2,257	2010
KENNESAW MARKETPLACE Kennesaw, GA	—	12,587	51,860	—		—	12,587	51,860	64,447	1,009	2018
KYLE MARKETPLACE Kyle, TX	—	6,076	48,220	—		308	6,076	48,528	54,604	2,156	2017
MARKET AT WESTLAKE Westlake Hills, TX	—	1,200	6,274	(64	)	80	1,136	6,354	7,490	2,660	2007
NORTHCROSS COMMONS Charlotte, NC	—	7,591	21,303	—		341	7,591	21,644	29,235	1,705	2016
NORTHWEST MARKETPLACE Houston, TX	—	3,870	30,340	(31	)	1,119	3,839	31,459	35,298	12,742	2007
OLD GROVE MARKETPLACE Oceanside, CA	—	12,545	8,902	—		46	12,545	8,948	21,493	807	2016
PARAISO PARC AND WESTFORK PLAZA Pembroke Pines, FL	—	28,267	124,019	—		4,862	28,267	128,881	157,148	8,120	2017
PAVILION AT LAQUINTA LaQuinta, CA	23,641	15,200	20,947	—		941	15,200	21,888	37,088	7,637	2009



		Initial Cost (A)						Gross amount at which carried at end of period
PROPERTY NAME Location	Encumbrance	Land	Buildings and Improvements	Adjustments to Land Basis (B)		Adjustments to Basis (B)		Land and Improvements	Buildings and Improvements	Total (C)	Accumulated Depreciation (D,E)	Date of Completion of Construction or Date of Acquisition
PEACHLAND PROMENADE Port Charlotte, FL	—	1,742	6,502	4,158		7,754		5,900	14,256	20,156	360	2009
PGA PLAZA Palm Beach Gardens, FL	—	10,414	75,730	—		—		10,414	75,730	86,144	1,499	2018
PLANTATION GROVE Ocoee, FL	7,300	3,705	6,300	—		568		3,705	6,868	10,573	1,217	2014
PLAZA MIDTOWN Atlanta, GL	—	5,295	23,946	—		24		5,295	23,970	29,265	1,067	2017
PROMENADE FULTONDALE Fultondale, AL	—	5,540	22,414	(1,022	)	1,783		4,518	24,197	28,715	7,939	2009
QUEBEC SQUARE Denver, CO	23,550	9,579	40,086	—		2,432		9,579	42,518	52,097	5,898	2014
RENAISSANCE CENTER Durham, NC	15,155	26,713	96,141	—		3,722		26,713	99,863	126,576	10,115	2016
RIO PINOR PLAZA Orlando, FL	—	5,171	26,903	—		133		5,171	27,036	32,207	3,077	2015
RIVER OAKS SHOPPING CENTER Valencia, CA	—	24,598	88,418	—		(112	)	24,598	88,306	112,904	4,037	2017
RIVERVIEW VILLAGE Arlington, TX	—	6,000	9,649	—		777		6,000	10,426	16,426	4,343	2007
RIVERWALK MARKET Flower Mound, TX	—	5,931	23,922	—		1		5,931	23,923	29,854	1,897	2016
ROSE CREEK Woodstock, GA	—	1,443	5,630	—		509		1,443	6,139	7,582	2,118	2009
SANDY PLAINS CENTRE Marietta, GA	—	12,366	27,270	—		—		12,366	27,270	39,636	—	2018



		Initial Cost (A)						Gross amount at which carried at end of period
PROPERTY NAME Location	Encumbrance	Land	Buildings and Improvements	Adjustments to Land Basis (B)		Adjustments to Basis (B)		Land and Improvements	Buildings and Improvements	Total (C)	Accumulated Depreciation (D,E)	Date of Completion of Construction or Date of Acquisition
SARASOTA PAVILION Sarasota, FL	—	12,000	25,823	—		4,221		12,000	30,044	42,044	8,711	2010
SCOFIELD CROSSING Austin, TX	—	8,100	4,992	(576	)	317		7,524	5,309	12,833	2,200	2007
SHOPS AT THE GALLERIA Austin, TX	—	52,104	75,651	—		577		52,104	76,228	128,332	7,659	2016
SILVERLAKE Erlanger, KY	—	2,031	6,975	—		(10	)	2,031	6,965	8,996	2,704	2009
SONTERRA VILLAGE San Antonio, TX	—	5,150	15,095	—		325		5,150	15,420	20,570	1,634	2015
STEVENSON RANCH Stevenson Ranch, CA	—	29,519	39,190	—		20		29,519	39,210	68,729	3,840	2016
SUNCREST VILLAGE Orlando, FL	8,400	6,742	6,403	—		614		6,742	7,017	13,759	1,256	2014
SYCAMORE COMMONS Matthews, NC	—	12,500	31,265	—		1,782		12,500	33,047	45,547	11,717	2010
THE CENTER AT HUGH HOWELL Tucker, GA	—	2,250	11,091	—		806		2,250	11,897	14,147	5,223	2007
THE PARKE Cedar Park, TX	—	9,271	83,078	—		311		9,271	83,389	92,660	3,989	2017
THE POINTE AT CREEDMOOR Raleigh, NC	—	7,507	5,454	—		6		7,507	5,460	12,967	551	2016
THE SHOPS AT TOWN CENTER Germantown, MD	—	19,996	29,776	—		114		19,996	29,890	49,886	1,916	2017



			Initial Cost (A)									Gross amount at which carried at end of period
PROPERTY NAME Location	Encumbrance		Land		Buildings and Improvements		Adjustments to Land Basis (B)		Adjustments to Basis (B)			Land and Improvements		Buildings and Improvements		Total (C)		Accumulated Depreciation (D,E)		Date of Completion of Construction or Date of Acquisition
THE SHOPS AT WALNUT CREEK Westminster, CO	28,630		10,132		44,089		—		1,309			10,132		45,398		55,530		6,034		2015
THOMAS CROSSROADS Newnan, GA	—		1,622		8,322		—		1,246			1,622		9,568		11,190		3,224		2009
UNIVERSITY OAKS SHOPPING CENTER Round Rock, TX	26,585		7,250		25,326		—		8,098			7,250		33,424		40,674		10,204		2010
WEST CREEK SHOPPING CENTER Austin, TX	—		5,151		8,659		—		37			5,151		8,696		13,847		1,700		2015
WESTPARK SHOPPING CENTER Glen Allen, VA	—		7,462		24,164		—		(5,568		)	7,462		18,596		26,058		2,428		2013
WHITE OAK CROSSING Garner, NC	—		19,000		70,275		—		2,123			19,000		72,398		91,398		18,746		2011
WINDERMERE VILLAGE Houston, TX	—		1,220		6,331		—		1,267			1,220		7,598		8,818		3,548		2005
WINDWARD COMMONS Alpharetta, GA	—		12,823		13,779		—		299			12,823		14,078		26,901		1,192		2016
WOODBRIDGE Wylie, TX	—		—		—		9,509		41,617			9,509		41,617		51,126		12,932		2013
WOODLAKE CROSSING San Antonio, TX	—		3,420		14,153		—		3,508			3,420		17,661		21,081		5,858		2009
Total Corporate Assets	—		—		—		—		14,104			—		14,104		14,104		10,225		-

Total	$	213,925	$	547,084	$	1,554,225	$	11,733	$	116,453		$	558,817	$	1,670,678	$	2,229,495	$	286,330

Notes:

The Company had $12,788 of assets included in construction in progress at December 31, 2018, which have been omitted from the prior table. The aggregate cost of real estate owned at December 31, 2018 for federal income tax purposes was approximately $2,449,497 (unaudited).


(A)	The initial cost to the Company represents the original purchase price of the asset, including amounts incurred subsequent to acquisition which were contemplated at the time the property was acquired.


(B)	Cost capitalized subsequent to acquisition includes additional tangible costs associated with investment properties, including any earnout of tenant space. Amount also includes impairment charges recorded subsequent to acquisition to reduce basis.


(C)	Reconciliation of real estate owned:



	2018			2017			2016
Balance at January 1,	$	2,516,085		$	2,180,252		$	2,259,631
Acquisitions and capital improvements	237,439			598,843			497,646
Disposals and write-offs	(524,029		)	(263,010		)	(534,458		)
Properties classified as discontinued operations	—			—			(42,567		)
Balance at December 31,	$	2,229,495		$	2,516,085		$	2,180,252

(D) Reconciliation of accumulated depreciation:



	2018			2017			2016
Balance at January 1,	$	348,337		$	351,389		$	394,904
Depreciation expense, continuing operations	73,021			70,959			63,684
Depreciation expense, properties classified as discontinued operations	—			974			27,397
Accumulated depreciation expense, properties classified as discontinued operations	—			—			(2,601		)
Disposal and write-offs	(135,028		)	(74,985		)	(131,995		)
Balance at December 31,	$	286,330		$	348,337		$	351,389

(E) Depreciation is computed based upon the following estimated lives:



Buildings and improvements	30 years
Tenant improvements	Life of the lease
Furniture, fixtures and equipment	5	-	15 years