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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]

SEC Schedule III, Real Estate and Accumulated Depreciation

Schedule III—Real Estate and Accumulated Depreciation

As of December 31, 2024

($ in thousands)

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​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	Cost		​	Gross Amount Carried								​	​	​	​	​	​	​	​
​	​	​	​	​	Initial Cost to Company					​	Capitalized		​	at Close of Period								​	​	​	​	​	​	Depreciable	​
​	​	​	​	​	​	​	​	Building and			Subsequent to		​	​	​	​	Building and		​	​	​	​	Accumulated		​	Date		Life	​
Location		Encumbrances			Land			Improvements			Acquisition			Land			Improvements			Total(1)			Depreciation			Acquired		(Years)	​
Detroit, MI	​	$	31,961	(2)	$	29,086	​	$	—	​	$	—	​	$	29,086	​	$	—	​	$	29,086	​	$	—		2017		N/A
Dallas, TX	​		3,736	(2)		1,954	​		—	​		—	​		1,954	​		—	​		1,954	​		—		2017		N/A
Dallas, TX	​		4,151	(2)		2,751	​		—	​		—	​		2,751	​		—	​		2,751	​		—		2017		N/A
Atlanta, GA	​		7,577	(2)		4,097	​		—	​		—	​		4,097	​		—	​		4,097	​		—		2017		N/A
Milwaukee, WI	​		3,633	(2)		4,638	​		51,323	​		—	​		4,638	​		51,323	​		55,961	​		9,963		2017		40	(3)
Washington, DC	​		5,190	(2)		1,484	​		—	​		—	​		1,484	​		—	​		1,484	​		—		2017		N/A
Minneapolis, MN	​		1,452	(2)		716	​		—	​		—	​		716	​		—	​		716	​		—		2017		N/A
Durango, CO	​		16,604	(2)		1,415	​		17,080	​		—	​		1,415	​		17,080	​		18,495	​		4,213		2017		35	(3)
Rohnert Park, CA	​		19,300	(2)		5,869	​		13,752	​		—	​		5,869	​		13,752	​		19,621	​		4,215		2017		32	(3)
Salt Lake City, UT	​		55,312	(2)		8,573	​		40,583	​		—	​		8,573	​		40,583	​		49,156	​		9,220		2017		34	(3)
San Diego, CA	​		38,084	(2)		5,077	​		24,096	​		—	​		5,077	​		24,096	​		29,173	​		5,783		2017		33	(3)
Seattle, WA	​		40,000	(2)		7,813	​		45,562	​		—	​		7,813	​		45,562	​		53,375	​		12,888		2017		30	(3)
Los Angeles, CA	​		57,936	(2)		72,836	​		—	​		—	​		72,836	​		—	​		72,836	​		—		2017		N/A
Los Angeles, CA	​		62,764	(2)		68,140	​		—	​		—	​		68,140	​		—	​		68,140	​		—		2017		N/A
Atlanta, GA	​		—	​		6,300	​		—	​		—	​		6,300	​		—	​		6,300	​		—		2017		N/A
Washington, DC	​		23,100	(2)		27,354	​		—	​		—	​		27,354	​		—	​		27,354	​		—		2018		N/A
Orlando, FL	​		7,800	(2)		6,626	​		—	​		—	​		6,626	​		—	​		6,626	​		—		2018		N/A
Raleigh-Durham, NC	​		11,940	(2)		4,502	​		—	​		—	​		4,502	​		—	​		4,502	​		—		2018		N/A
Atlanta, GA	​		9,882	(2)		8,478	​		—	​		—	​		8,478	​		—	​		8,478	​		—		2018		N/A
San Diego, CA	​		—	​		8,168	​		—	​		—	​		8,168	​		—	​		8,168	​		—		2018		N/A
Washington, DC	​		10,000	(2)		15,217	​		—	​		—	​		15,217	​		—	​		15,217	​		—		2018		N/A
Phoenix, AZ	​		—	​		5,996	​		—	​		—	​		5,996	​		—	​		5,996	​		—		2018		N/A
Washington, DC	​		—	​		21,478	​		—	​		—	​		21,478	​		—	​		21,478	​		—		2018		N/A
Miami, FL	​		6,000	(2)		9,170	​		—	​		—	​		9,170	​		—	​		9,170	​		—		2018		N/A
Miami, FL	​		2,471	(2)		3,735	​		—	​		—	​		3,735	​		—	​		3,735	​		—		2018		N/A
Washington, DC	​		95,000	(2)		121,100	​		—	​		—	​		121,100	​		—	​		121,100	​		—		2018		N/A
Nashville, TN	​		17,500	(2)		13,505	​		—	​		—	​		13,505	​		—	​		13,505	​		—		2018		N/A
Portland, OR	​		—	​		3,641	​		—	​		—	​		3,641	​		—	​		3,641	​		—		2019		N/A
San Antonio, TX	​		10,000	(2)		2,103	​		836	​		—	​		2,103	​		836	​		2,939	​		146		2019		40
Riverside, CA	​		—	​		11,399	​		—	​		—	​		11,399	​		—	​		11,399	​		—		2019		N/A
San Ramon, CA	​		—	​		19,635	​		—	​		—	​		19,635	​		—	​		19,635	​		—		2020		N/A
Washington, DC	​		—	​		44,883	​		—	​		—	​		44,883	​		—	​		44,883	​		—		2020		N/A
Real estate available and held for sale	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Various	​	​	—	​	​	2,404	​	​	4,829	​	​	—	​	​	2,404	​	​	4,829	​	​	7,233	​	​	—	​	2023	​	N/A	​
Total (4)	​	$	541,393	​	$	550,143	​	$	198,061	​	$	—	​	$	550,143	​	$	198,061	​	$	748,204	​	$	46,428

(1) The aggregate cost for Federal income tax purposes was approximately $1.0 billion as of December 31, 2024.

(2) Pledged as collateral under mortgages.

(3) These properties have land improvements with depreciable lives from 7 to 12 years.

(4) Includes real estate available and held for sale.

​

The following table reconciles real estate and real estate available and held for sale for the years ended December 31, 2024, 2023 and 2022 (in thousands):

​	​	​	​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​		2024			2023			2022
Beginning balance	​	$	754,048	​	$	740,971	​	$	740,971
Acquisitions(1)	​		—	​		14,585	​		—
Sales(1)	​	​	(5,844)	​	​	(1,508)	​	​	—
Ending balance(2)	​	$	748,204	​	$	754,048	​	$	740,971

(1) Represents real estate available and held for sale.

(2) Includes real estate and real estate available and held for sale.

​

The following table reconciles accumulated depreciation for the years ended December 31, 2024, 2023 and 2022 (in thousands):

​	​	​	​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​		2024			2023			2022
Beginning balance	​	$	40,400	​	$	34,371	​	$	28,343
Additions	​		6,028	​		6,029	​		6,028
Ending balance	​	$	46,428	​	$	40,400	​	$	34,371

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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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