Schedule III - Real Estate And Accumulated Depreciation

12 Months Ended

Dec. 31, 2024

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation


			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		Buildings and Improvements		Total (C)		Accumulated Depreciation (D,E)		Year Acquired
Antoine Town Center Houston, TX	$	—	$	5,327	$	14,333	$	—	$	(528)	$	5,327	$	13,805	$	19,132	$	3,157	2020
Bay Colony Houston, TX	—		8,287		41,714		—		2,424		8,287		44,138		52,425		3,899		2023
Bay Landing Bonita Springs, FL	—		1,687		9,283		—		112		1,687		9,395		11,082		1,072		2022
Bear Creek Village Center Wildomar, CA	—		3,523		12,384		—		(799)		3,523		11,585		15,108		5,922		2009
Bent Tree Plaza Raleigh, NC	—		1,983		7,093		—		807		1,983		7,900		9,883		3,910		2009
Blackhawk Town Center Houston, TX	—		10,265		6,156		—		(40)		10,265		6,116		16,381		842		2023
Buckhead Crossing Atlanta, GA	—		7,565		27,104		—		949		7,565		28,053		35,618		13,558		2009
Campus Marketplace San Marcos, CA	—		26,928		43,445		55		1,239		26,983		44,684		71,667		12,612		2017
Cary Park Town Center Cary, NC	—		5,555		17,280		—		110		5,555		17,390		22,945		4,743		2017
Commons at University Place Durham, NC	—		3,198		17,909		—		(8)		3,198		17,901		21,099		3,648		2019
Coweta Crossing Newnan, GA	—		1,143		4,590		—		(417)		1,143		4,173		5,316		2,352		2009
Custer Creek Village Richardson, TX	—		4,750		12,245		—		1,433		4,750		13,678		18,428		7,349		2007
Cyfair Town Center Houston, TX	—		16,184		48,566		—		828		16,184		49,394		65,578		4,339		2023
Eastfield Village Charlotte, NC	—		2,327		14,321		—		337		2,327		14,658		16,985		1,444		2022
Eldorado Marketplace Frisco, TX	—		15,732		49,311		—		801		15,732		50,112		65,844		9,441		2019
Eldridge Town Center Houston, TX	—		3,200		16,687		1,761		5,867		4,961		22,554		27,515		10,606		2005
Escarpment Village Austin, TX	26,000		19,641		51,763		—		291		19,641		52,054		71,695		6,001		2022
Garden Village San Pedro, CA	—		3,188		16,522		3,268		609		6,456		17,131		23,587		8,453		2009
Gateway Market Center St. Petersburg, FL	—		13,600		4,992		—		4,983		13,600		9,975		23,575		3,946		2010
Kennesaw Marketplace Kennesaw, GA	—		12,587		51,860		—		453		12,587		52,313		64,900		12,083		2018
Kyle Marketplace Kyle, TX	—		6,076		48,220		711		681		6,787		48,901		55,688		12,358		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		Buildings and Improvements		Total (C)		Accumulated Depreciation (D,E)		Year Acquired
Lakeside & Lakeside Crossing Winter Park, FL	$	—	$	16,594	$	41,085	$	—	$	(112)	$	16,594	$	40,973	$	57,567	$	8,489	2019
Market at Mill Creek Mount Pleasant, SC	—		2,435		20,324		—		12		2,435		20,336		22,771		—		2024
Market at Westlake Westlake Hills, TX	—		1,200		6,274		(64)		(42)		1,136		6,232		7,368		3,605		2007
Moores Mill Atlanta, GA	—		5,180		17,653		—		10		5,180		17,663		22,843		495		2024
Nexton Square Summerville, SC	—		9,531		41,546		—		21		9,531		41,567		51,098		—		2024
Northcross Commons Charlotte, NC	—		7,591		21,303		—		905		7,591		22,208		29,799		6,415		2016
Old Grove Marketplace Oceanside, CA	—		12,545		8,902		—		472		12,545		9,374		21,919		2,967		2016
Pavilion at La Quinta La Quinta, CA	—		15,200		20,947		—		1,217		15,200		22,164		37,364		11,123		2009
Peachland Promenade Port Charlotte, FL	—		1,742		6,502		4,158		10,674		5,900		17,176		23,076		4,183		2009
PGA Plaza Palm Beach Gardens Palm Beach Gardens, FL	—		10,414		75,730		—		1,293		10,414		77,023		87,437		17,072		2018
Plantation Grove & Maguire Grove Ocoee, FL	—		5,791		19,037		—		1,058		5,791		20,095		25,886		3,126		2014 & 2024
Plaza Midtown Atlanta, GA	—		5,295		23,946		—		1,219		5,295		25,165		30,460		6,010		2017
Prestonwood Town Center Dallas, TX	—		22,055		22,140		—		538		22,055		22,678		44,733		3,540		2021
Renaissance Center Durham, NC	—		26,713		96,141		—		6,530		26,713		102,671		129,384		32,996		2016
Rio Pinar Plaza Orlando, FL	—		5,171		26,903		676		1,991		5,847		28,894		34,741		9,109		2015
River Oaks Santa Clarita, CA	—		24,598		88,418		—		3,228		24,598		91,646		116,244		22,416		2017
Riverview Village Arlington, TX	—		6,000		9,649		—		448		6,000		10,097		16,097		5,939		2007
Riverwalk Market Flower Mound, TX	—		5,931		23,922		—		366		5,931		24,288		30,219		7,228		2016
Rose Creek Woodstock, GA	—		1,443		5,630		—		117		1,443		5,747		7,190		2,831		2009
Sandy Plains Centre Marietta, GA	—		12,364		27,270		652		4,600		13,016		31,870		44,886		6,151		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		Buildings and Improvements		Total (C)		Accumulated Depreciation (D,E)		Year Acquired
Sarasota Pavilion Sarasota, FL	$	—	$	12,000	$	25,823	$	—	$	12,532	$	12,000	$	38,355	$	50,355	$	15,101	2010
Scofield Crossing Austin, TX	—		8,100		4,992		(576)		2,923		7,524		7,915		15,439		3,453		2007
Scottsdale North Marketplace Scottsdale, AZ	—		6,505		14,683		—		124		6,505		14,807		21,312		310		2024
Shops at Arbor Trails Austin, TX	31,500		28,233		76,769		—		169		28,233		76,938		105,171		9,112		2022
Shops at Fairview Town Center Fairview, TX	—		7,299		25,233		—		1,188		7,299		26,421		33,720		5,053		2019
Shops at the Galleria Bee Cave, TX	—		52,104		75,651		(597)		4,437		51,507		80,088		131,595		24,981		2016
Sonterra Village San Antonio, TX	—		5,150		15,095		(181)		803		4,969		15,898		20,867		5,012		2015
Southern Palm Crossing Royal Palm Beach, FL	—		37,735		49,843		(745)		2,716		36,990		52,559		89,549		11,011		2019
Stables Town Center Houston, TX	—		5,899		20,439		—		73		5,899		20,512		26,411		1,844		2023
Stonehenge Village Midlothian, VA	—		10,534		44,971		—		14		10,534		44,985		55,519		568		2024
Stone Ridge Market San Antonio, TX	—		8,935		38,754		—		(5,427)		8,935		33,327		42,262		2,995		2022
Suncrest Village Orlando, FL	—		6,742		6,403		—		11,338		6,742		17,741		24,483		3,128		2014
Sycamore Commons Matthews, NC	—		12,500		31,265		—		2,367		12,500		33,632		46,132		18,059		2010
The Centre on Hugh Howell Tucker, GA	—		2,250		11,091		—		1,899		2,250		12,990		15,240		6,558		2007
The Forum Fort Myers, FL	—		9,939		21,943		—		58		9,939		22,001		31,940		87		2024
The Highlands of Flower Mound Flower Mound, TX	22,880		6,330		24,374		—		(160)		6,330		24,214		30,544		2,967		2022
The Parke Cedar Park, TX	—		9,271		83,078		—		1,550		9,271		84,628		93,899		22,432		2017
The Plant Chandler, AZ	13,000		3,864		21,423		—		8		3,864		21,431		25,295		812		2024
The Pointe at Creedmoor Raleigh, NC	—		7,507		5,454		—		82		7,507		5,536		13,043		1,896		2016
The Shoppes at Davis Lake Charlotte, NC	—		6,232		12,903		—		61		6,232		12,964		19,196		864		2023


			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		Buildings and Improvements		Total (C)		Accumulated Depreciation (D,E)		Year Acquired
The Shops at Town Center Germantown, MD	$	—	$	19,998	$	29,776	$	—	$	1,160	$	19,998	$	30,936	$	50,934	$	8,691	2017
Thomas Crossroads Newnan, GA	—		1,622		8,322		—		1,028		1,622		9,350		10,972		4,500		2009
Travilah Square Rockville, MD	—		8,964		39,836		—		729		8,964		40,565		49,529		7,302		2019
University Oaks Shopping Center Round Rock, TX	—		7,250		25,326		(170)		8,748		7,080		34,074		41,154		18,291		2010
Westfork Plaza & Paraiso Parc Pembroke Pines, FL	—		28,267		124,019		—		7,533		28,267		131,552		159,819		36,026		2017
Westpark Shopping Center Glen Allen, VA	—		7,462		24,164		(4)		6,339		7,458		30,503		37,961		9,130		2013
Windward Commons Alpharetta, GA	—		12,823		13,779		(171)		881		12,652		14,660		27,312		4,750		2016
Total corporate assets	—		—		—		—		3,733		—		3,733		3,733		1,606		-
Total	$	93,380	$	704,054	$	1,994,509	$	8,773	$	121,583	$	712,827	$	2,116,092	$	2,828,919	$	511,969
Construction in progress			—		—		—		9,951		—		9,951		9,951		—
Total investment properties			$	704,054	$	1,994,509	$	8,773	$	131,534	$	712,827	$	2,126,043	$	2,838,870	$	511,969

Notes to Schedule III

The aggregate cost of real estate owned as of December 31, 2024, for federal income tax purposes was approximately $3,227,994 (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. Amount also includes impairment charges recorded subsequent to acquisition to reduce basis.

(C)Reconciliation of total investment properties:


	2024		2023		2022
Balance as of January 1	$	2,656,674	$	2,481,662	$	2,273,103
Acquisitions and capital improvements	277,912		191,666		307,177
Disposals, impairment, and write-offs of assets no longer in service	(95,716)		(16,654)		(98,618)
Balance as of December 31	$	2,838,870	$	2,656,674	$	2,481,662

(D)Reconciliation of accumulated depreciation:


	2024		2023		2022
Balance at January 1,	$	461,352	$	389,361	$	350,256
Depreciation expense	82,603		78,560		71,428
Disposal, impairment, and write-offs of assets no longer in service	(31,986)		(6,569)		(32,323)
Balance at December 31,	$	511,969	$	461,352	$	389,361

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


Buildings and other improvements	15	-	30 years
Tenant improvements	Life of the lease
Furniture, fixtures and equipment	3	-	20 years