Consolidated Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2016

Forestar Group Inc.

Schedule III — Consolidated Real Estate and Accumulated Depreciation

Year-End 2016

(In thousands)



		Initial Cost to Company			Costs Capitalized Subsequent to Acquisition					Gross Amount Carried at End of Period
Description	Encumbrances	Land		Buildings & Improvements	Improvements less Cost of Sales and Other			Carrying Costs^(a)		Land & Land Improvements		Buildings & Improvements	Total		Accumulated Depreciation	Date of Construction	Date Acquired
Entitled, Developed, and Under Development Projects:
ARIZONA
Pima County
Dove Mountain		$	5,860		$	3				$	5,863		$	5,863			2015
CALIFORNIA
Contra Costa County
San Joaquin River		12,225			(10,558		)			1,667			1,667				^(b)
COLORADO
Douglas County
Pinery West		7,308			3,791					11,099			11,099			2006	2006
Cielo		3,933			2,645					6,578			6,578				2016
Weld County
Buffalo Highlands		3,001			(295		)			2,706			2,706			2006	2005
Johnstown Farms		2,749			4,189			$	100	7,038			7,038			2002	2002
Stonebraker		3,878			(1,786		)			2,092			2,092			2005	2005
GEORGIA
Cobb County
West Oaks		1,669			1,543					3,212			3,212			2015	2015
Paulding County
Harris Place		265			(111		)			154			154				2012
Seven Hills		2,964			1,162			13		4,139			4,139				2012
NORTH CAROLINA
Cabbarrus County
Moss Creek		1,254			101					1,355			1,355				2016
Mecklenburg County
Walden		12,085			2,279			87		14,451			14,451			2016	2015
SOUTH CAROLINA
Lancaster County
Ansley Park		5,089			1,594					6,683			6,683				2015
York County
Habersham		3,877			1,128			421		5,426			5,426			2014	2013



		Initial Cost to Company			Costs Capitalized Subsequent to Acquisition					Gross Amount Carried at End of Period
Description	Encumbrances	Land		Buildings & Improvements	Improvements less Cost of Sales and Other			Carrying Costs^(a)		Land & Land Improvements		Buildings & Improvements	Total		Accumulated Depreciation	Date of Construction	Date Acquired
TENNESEE
Williamson County
Morgan Farms		$	6,841		$	(1,808	)	$	88	$	5,121		$	5,121		2013	2013
Scales Farmstead		3,575			9,319			389		13,283			13,283				2015
Weatherford Estates		856			374			138		1,368			1,368			2015	2014
Wilson County
Beckwith Crossing		1,294			2,397			161		3,852			3,852			2015	2014
TEXAS
Bastrop County
Hunter’s Crossing		3,613			5,226					8,839			8,839			2001	2001
Bexar County
Cibolo Canyons		17,305			26,397			1,203		44,905			44,905			2004	1986
Calhoun County
Caracol		8,603			(8,025		)			578			578			2006	2006
Collin County
Lakes of Prosper		8,951			(3,005		)	348		6,294			6,294				2012
Parkside		2,177			(4		)	183		2,356			2,356			2014	2013
Timber Creek		7,282			9,862					17,144			17,144			2007	2007
Village Park		4,772			(4,720		)			52			52				2012
Comal County
Oak Creek Estates		1,921			685			22		2,628			2,628			2006	2005
Dallas County
Stoney Creek		12,822			327			443		13,592			13,592			2007	2007
Denton County
Lantana		27,673			(11,242		)	529		16,960			16,960			2000	1999
River's Edge		1,227			436					1,663			1,663				2014
The Preserve at Pecan Creek		5,855			(1,387		)	47		4,515			4,515			2006	2005
Fort Bend County
Summer Lakes		4,269			374			78		4,721			4,721			2013	2012
Summer Park		4,804			(2,557		)	17		2,264			2,264			2013	2012
Willow Creek Farms	486	3,479			(1,187		)			2,292			2,292			2012	2012
Harris County
Barrington		8,950			(7,483		)			1,467			1,467				2011
City Park		3,946			(2,243		)	229		1,932			1,932			2002	2001
Imperial Forest		5,345			(957		)	4		4,392			4,392			2015	2014



			Initial Cost to Company				Costs Capitalized Subsequent to Acquisition					Gross Amount Carried at End of Period
Description	Encumbrances		Land		Buildings & Improvements		Improvements less Cost of Sales and Other			Carrying Costs^(a)		Land & Land Improvements		Buildings & Improvements		Total		Accumulated Depreciation		Date of Construction	Date Acquired
Hays County
Arrowhead Ranch			$	12,856			$	9,204		$	233	$	22,293			$	22,293			2015	2007
Tarrant County
Summer Creek Ranch			2,887				(1,377		)			1,510				1,510					2012
The Bar C Ranch			1,365				842			197		2,404				2,404					2012
Other			5,222				(276		)	25		4,971				4,971
Total Entitled, Developed, and Under Development Projects	$	486	$	234,047	$	—	$	24,857		$	4,955	$	263,859	$	—	$	263,859	$	—
Undeveloped Land and land in entitlement:
CALIFORNIA
Los Angeles County
Land In Entitlement Process			$	3,950			$	20,838				$	24,788			$	24,788				1997
GEORGIA
Cherokee County
Undeveloped Land			80									80				80					(b)
TEXAS
Bexar County
Undeveloped Land							2,548					2,548				2,548					(b)
Montgomery County
Undeveloped Land							5					5				5					(b)
Other
Undeveloped Land							1,723					1,723				1,723					(b)
Total Undeveloped Land and Land in Entitlement	$	—	$	4,030	$	—	$	25,114		$	—	$	29,144	$	—	$	29,144	$	—
Total	$	486	$	238,077	$	—	$	49,971		$	4,955	$	293,003	$	—	$	293,003	$	—

____________________

(a)We do not capitalize carrying costs until development begins.

(b)The acquisition date is not available.

Reconciliation of real estate:

Reconciliation of accumulated depreciation: