v3.25.4

SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2025

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

SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation

			Encumbrance as of December 31, 2025						Initial Cost												Cost Capitalized Subsequent to Acquisition						Gross Carrying Amount at December 31, 2025												Accumulated Depreciation and Amortization						Year Built/ Most Recent Renovation						Date Acquired						Life on which depreciation in latest income statements is computed
Description									Land						Building and Improvements												Land						Building and Improvements
Alamo Quarry Market			$	—					$	26,396					$	109,294					$	40,803					$	26,816					$	149,677					$	(87,378)					1997/1999						12/9/2003						35 years
Carmel Country Plaza			—						4,200						—						15,449						4,200						15,449						(11,208)						1991						1/10/1989						35 years
Carmel Mountain Plaza			—						22,477						65,217						43,814						31,034						100,474						(63,784)						1994/2020						3/28/2003						35 years
Gateway Marketplace			—						17,363						21,644						973						17,363						22,617						(6,894)						1997/2016						7/6/2017						35 years
Geary Marketplace			—						8,239						12,353						381						8,239						12,734						(5,199)						2012						12/19/2012						35 years
Hassalo on Eighth - Retail			—						—						—						27,915						597						27,318						(12,345)						2015						7/1/2011						35 years
Lomas Santa Fe Plaza			—						8,600						11,282						14,863						8,620						26,125						(21,595)						1972/1997						6/12/1995						35 years
The Shops at Kalakaua			—						13,993						10,817						157						14,006						10,961						(6,671)						1971/2006						3/31/2005						35 years
Solana Beach Towne Centre			—						40,980						38,842						5,952						40,980						44,794						(20,649)						1973/2004						1/19/2011						35 years
South Bay Marketplace			—						4,401						—						13,040						4,401						13,040						(9,922)						1997/2018						9/16/1995						35 years
Waikele Center			—						55,593						126,858						45,007						70,644						156,814						(91,524)						1993/2008						9/16/2004						35 years
City Center Bellevue			75,000						25,135						190,998						60,922						25,135						251,920						(101,706)						1987/2023						8/21/2012						40 years
14Acres			—						35,822						82,737						21,380						35,822						104,117						(14,104)						1985/2024						7/7/2021						40 years
Timber Ridge			—						23,203						55,992						6,690						23,203						62,682						(9,479)						1986						9/10/2021						40 years
Timber Springs			—						13,744						30,339						3,753						13,744						34,092						(4,492)						1983						3/8/2022						40 years
First & Main			—						14,697						109,739						14,211						14,697						123,950						(51,873)						2010						3/11/2011						40 years
The Landmark at One Market			—						34,575						141,196						36,478						34,575						177,674						(77,190)						1917/2000						6/30/2010						40 years
Lloyd Portfolio			—						18,660						61,401						114,049						11,845						182,265						(80,428)						1940/2022						7/1/2011						40 years
One Beach Street			—						15,332						18,017						44,005						15,332						62,022						(6,610)						1924/2024						1/24/2012						40 years
Solana Crossing:
Solana Crossing I-II			—						7,111						17,100						12,685						7,111						29,785						(11,674)						1982/2022						1/19/2011						40 years
Solana Crossing III-IV			—						7,298						27,887						12,690						7,298						40,577						(15,805)						1982/2022						1/19/2011						40 years
Solana Crossing Land			—						487						—						—						487						—						—						N/A						1/19/2011						N/A
Coastal Collection at Torrey Reserve:
Torrey Plaza			—						4,095						—						63,850						5,408						62,537						(31,711)						1996-1997/2014						6/6/1989						40 years
Pacific North Court			—						3,263						—						40,589						4,309						39,543						(20,376)						1997-1998						6/6/1989						40 years
Pacific South Court			—						3,285						—						39,829						4,226						38,888						(21,452)						1996-1997						6/6/1989						40 years
Pacific VC			—						1,413						—						10,939						2,148						10,204						(7,349)						1998-2000						6/6/1989						40 years
Pacific Torrey Daycare			—						715						—						1,990						911						1,794						(1,266)						1996-1997						6/6/1989						40 years
Coastal Collection at Torrey Reserve Building 6			—						—						—						6,886						682						6,204						(2,076)						2013						6/6/1989						40 years
Coastal Collection at Torrey Reserve Building 5			—						—						—						4,403						1,017						3,386						(714)						2014						6/6/1989						40 years
Coastal Collection at Torrey Reserve Building 13 & 14			—						—						—						16,668						2,188						14,480						(6,193)						2015						6/6/1989						40 years
Torrey Point			—						2,073						741						49,864						5,050						47,628						(14,282)						2018						5/9/1997						40 years
La Jolla Commons
La Jolla Commons I-II			—						62,312						393,662						28,683						62,312						422,345						(86,665)						2008						6/20/2019						40 years
La Jolla Commons III			—						20,446						—						141,862						20,446						141,862						(3,141)						2025						6/20/2019						40 years
Imperial Beach Gardens			—						1,281						4,820						8,767						1,281						13,587						(9,226)						1959/2023						7/31/1985						30 years

			Encumbrance as of December 31, 2025						Initial Cost												Cost Capitalized Subsequent to Acquisition						Gross Carrying Amount at December 31, 2025												Accumulated Depreciation and Amortization						Year Built/ Most Recent Renovation						Date Acquired						Life on which depreciation in latest income statements is computed
Description									Land						Building and Improvements												Land						Building and Improvements
Loma Palisades			—						14,000						16,570						40,361						14,052						56,879						(36,258)						1958/2022						7/20/1990						30 years
Mariner’s Point			—						2,744						4,540						2,191						2,744						6,731						(4,790)						1986						5/9/2001						30 years
Santa Fe Park RV Resort			—						401						928						1,584						401						2,512						(1,822)						1971/2008						6/1/1979						30 years
Pacific Ridge Apartments			—						47,971						178,497						1,523						47,971						180,020						(54,769)						2013						4/28/2017						30 years
Genesee Park			—						27,125						39,532						2,423						27,125						41,955						(1,166)						1983						2/28/2025						30 years
Hassalo on Eighth - Multifamily			—						—						—						177,817						6,219						171,598						(58,881)						2015						7/1/2011						30 years
Waikiki Beach Walk:
Retail			—						45,995						74,943						2,547						45,995						77,490						(34,347)						2006						1/19/2011						35 years
Hotel			—						30,640						60,029						13,594						30,640						73,623						(37,245)						2008/2020						1/19/2011						35 years
			$	75,000					$	666,065					$	1,905,975					$	1,191,587					$	701,274					$	3,062,353					$	(1,144,259)

(1) For Federal tax purposes, the aggregate tax basis is approximately $2.5 billion as of December 31, 2025

			Year Ended December 31,
			2025						2024						2023
Real estate assets
Balance, beginning of period			$	3,626,364					3,741,768						3,671,469
Additions:
Property acquisitions			66,657						—						—
Improvements			80,631						68,484						78,249
Deductions:
Real estate assets held for sale			—						(154,134)						—
Other (1)			(10,025)						(29,754)						(7,950)
Balance, end of period			$	3,763,627					$	3,626,364					$	3,741,768
Accumulated depreciation
Balance, beginning of period			$	1,038,878					$	1,036,453					$	936,913
Additions—depreciation			113,109						111,727						106,306
Deductions:
Real estate assets held for sale			—						(80,435)						—
Other (2)			(7,728)						(28,867)						(6,766)
Balance, end of period			$	1,144,259					$	1,038,878					$	1,036,453

(1)Other deductions for the years ended December 31, 2025, 2024 and 2023 represent the write-off of fully depreciated assets and certain incomplete development costs written off.

(2)Other deductions for the years ended December 31, 2025, 2024 and 2023 represent the write-off of fully depreciated assets.

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- References

No definition available.

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- Definition

The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 28
-Publisher SEC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 970
-SubTopic 360
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-28)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478979/970-360-S99-1

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