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Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

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

Real estate and accumulated depreciation

SAUL CENTERS, INC. Real Estate and Accumulated Depreciation December 31, 2021 (Dollars in Thousands)
									Costs																																																												Buildings
									Capitalized						Basis at Close of Period																																																						and
			Initial Basis						Subsequent to Acquisition						Land						Buildings and Improvements						Construction in Progress						Total						Accumulated Depreciation						Book Value						Related Debt (2)						Date of Construction						Date Acquired						Improvements Depreciable Lives in Years
Shopping Centers
Ashbrook Marketplace, Ashburn, VA			$	8,938					$	24,822					$	13,258					$	20,092					$	410					$	33,760					$	1,187					$	32,573					$	21,329					2019						05/18						50
Ashburn Village, Ashburn, VA			11,431						20,570						6,764						25,237						—						32,001						15,755						16,246						24,186						1994 & 2000-6						3/94						40
Ashland Square Phase I, Dumfries, VA			1,178						5,298						1,178						5,298						—						6,476						2,661						3,815						—						2007, 2013						12/04						20 & 50
Beacon Center, Alexandria, VA			24,161						18,514						22,691						19,984						—						42,675						16,297						26,378						32,170						1960 & 1974						1/72 , 11/16						40 & 50
BJ’s Wholesale Club, Alexandria, VA			22,623						—						22,623						—						—						22,623						—						22,623						9,692												3/08						—
Boca Valley Plaza, Boca Raton, FL			16,720						2,630						5,735						13,615						—						19,350						6,159						13,191						—												2/04						40
Boulevard, Fairfax, VA			4,883						4,753						3,687						5,949						—						9,636						3,686						5,950						14,639						1969, 1999 & 2009						4/94						40
Briggs Chaney MarketPlace, Silver Spring, MD			27,037						5,316						9,789						22,564						—						32,353						10,640						21,713						—												4/04						40
Broadlands Village, Ashburn, VA			5,316						35,941						5,300						35,951						6						41,257						14,808						26,449						29,613						2002-3, 2004 & 2006						3/02						40 & 50
Burtonsville Town Square, Burtonsville, MD			74,212						6,344						28,402						52,138						16						80,556						6,740						73,816						34,558						2010						1/17						20 & 45
Countryside Marketplace, Sterling, VA			28,912						4,297						7,666						25,543						—						33,209						12,193						21,016						—												2/04						40
Cranberry Square, Westminster, MD			31,578						788						6,700						25,666						—						32,366						6,834						25,532						14,634												9/11						40
Cruse MarketPlace, Cumming, GA			12,226						767						3,901						9,092						—						12,993						4,185						8,808						—												3/04						40
Flagship Center, Rockville, MD			160						409						169						400						—						569						13						556						—						1972						1/72						—
French Market, Oklahoma City, OK			5,781						16,888						1,118						21,551						—						22,669						13,455						9,214						—						1972 & 1998						3/74						50
Germantown, Germantown, MD			2,034						566						2,034						566						—						2,600						467						2,133						—						1990						8/93						40
The Glen, Woodbridge, VA			12,918						8,559						5,300						16,177						—						21,477						11,099						10,378						21,393						1993 & 2005						6/94						40
Great Falls Center, Great Falls, VA			41,750						3,215						14,766						30,199						—						44,965						11,255						33,710						8,651												3/08						40
Hampshire Langley, Takoma, MD			3,159						3,444						1,892						4,701						10						6,603						4,106						2,497						12,868						1960						1/72						40
Hunt Club Corners, Apopka, FL			12,584						4,644						4,822						12,406						—						17,228						5,742						11,486						—												6/06, 12/12						40
Jamestown Place, Altamonte Springs, FL			14,055						2,410						4,455						12,010						—						16,465						5,141						11,324						—												11/05						40
Kentlands Square I, Gaithersburg, MD			14,379						3,234						5,005						11,928						680						17,613						4,819						12,794						21,385						2002						9/02						40
Kentlands Square II, Gaithersburg, MD			76,723						3,101						23,133						56,530						161						79,824						16,654						63,170						31,155												9/11, 9/13						40
Kentlands Place, Gaithersburg, MD			1,425						7,649						1,425						7,649						—						9,074						4,641						4,433						7,514						2005						1/04						50
Lansdowne Town Center, Leesburg, VA			6,545						43,461						6,546						43,439						21						50,006						18,994						31,012						28,533						2006						11/02						50
Leesburg Pike Plaza, Baileys Crossroads, VA			2,418						6,367						1,132						7,653						—						8,785						6,372						2,413						13,213						1965						2/66						40
Lumberton Plaza, Lumberton, NJ			4,400						11,614						950						15,042						22						16,014						13,899						2,115						—						1975						12/75						40
Metro Pike Center, Rockville, MD			33,123						5,004						26,064						8,096						3,967						38,127						2,321						35,806						—												12/10						40
Shops at Monocacy, Frederick, MD			9,541						15,876						9,260						16,157						—						25,417						6,984						18,433						27,143						2003-4						11/03						50
Northrock, Warrenton, VA			12,686						15,428						12,686						15,422						6						28,114						5,862						22,252						13,108						2009						01/08						50
Olde Forte Village, Ft. Washington, MD			15,933						6,913						5,409						17,437						—						22,846						9,088						13,758						20,682						2003-4						07/03						40
Olney, Olney, MD			4,963						2,998						3,079						4,882						—						7,961						3,492						4,469						12,299						1972						11/75						40
Orchard Park, Dunwoody, GA			19,377						1,607						7,751						13,233						—						20,984						4,876						16,108						8,812												7/07						40
Palm Springs Center, Altamonte Springs, FL			18,365						2,034						5,739						14,658						2						20,399						6,532						13,867						—												3/05						40
Ravenwood, Baltimore, MD			1,245						4,428						703						4,970						—						5,673						3,542						2,131						12,553						1959 & 2006						1/72						40
11503 Rockville Pike/5541 Nicholson Lane, Rockville, MD			26,561						24						22,113						4,472						—						26,585						1,260						25,325						—												10/10, 12/12						40
1500/1580/1582 Rockville Pike, Rockville, MD			45,351						2,046						38,065						7,050						2,282						47,397						6,474						40,923						—												12/12, 1/14, 4/14						5, 10, 5
Seabreeze Plaza, Palm Harbor, FL			24,526						2,625						8,665						18,486						—						27,151						7,886						19,265						13,897												11/05						40
Market Place at Sea Colony, Bethany Beach, DE			2,920						261						1,147						2,034						—						3,181						732						2,449						—												3/08						40
Seven Corners, Falls Church, VA			4,848						46,301						4,929						46,220						—						51,149						33,039						18,110						56,413						1956 & 1997						7/73						40
Severna Park Marketplace, Severna Park, MD			63,254						714						12,700						51,214						54						63,968						13,187						50,781						27,197												9/11						40
Shops at Fairfax, Fairfax, VA			2,708						11,112						992						12,828						—						13,820						9,242						4,578						9,759						1975 & 1999						6/75						50
Smallwood Village Center, Waldorf, MD			17,819						8,289						6,402						19,706						—						26,108						10,406						15,702						—												1/06						40
Southdale, Glen Burnie, MD			18,895						25,481						15,255						29,051						70						44,376						23,742						20,634						—						1962 & 1986						1/72 , 11/16						40
Southside Plaza, Richmond, VA			6,728						11,442						1,878						16,292						—						18,170						13,508						4,662						—						1958						1/72						40
South Dekalb Plaza, Atlanta, GA			2,474						4,953						615						6,812						—						7,427						5,218						2,209						—						1970						2/76						40
Thruway, Winston-Salem, NC			7,848						27,273						7,692						27,413						16						35,121						20,564						14,557						—						1955 & 1965						5/72						40
Village Center, Centreville, VA			16,502						3,304						7,851						11,955						—						19,806						8,145						11,661						11,528						1990						8/93						40
Westview Village, Frederick, MD			6,047						25,288						6,047						25,288						—						31,335						11,361						19,974						—						2009						11/07 , 02/15						50
White Oak, Silver Spring, MD			6,277						6,134						4,649						7,561						201						12,411						6,472						5,939						20,874						1958 & 1967						1/72						40
Other Buildings / Improvements			—						182						—						182						—						182						130						52						—
Total Shopping Centers			835,537						475,318						420,132						882,799						7,924						1,310,855						431,865						878,990						559,798
Mixed-Use Properties
Avenel Business Park, Gaithersburg, MD			21,459						36,528						3,756						54,231						—						57,987						41,110						16,877						24,108						1984, 1986,1990, 1998 & 2000						12/84, 8/85, 2/86, 4/98 & 10/2000						35 & 40
Clarendon Center, Arlington, VA (1)			12,753						187,200						16,287						183,666						—						199,953						56,237						143,716						90,600						2010						7/73, 1/96 & 4/02						50
Park Van Ness, Washington, DC			2,242						91,801						2,242						91,801						—						94,043						16,217						77,826						64,661						2016						7/73, 2/11						50
601 Pennsylvania Ave., Washington, DC			5,479						71,076						5,667						70,888						—						76,555						61,617						14,938						—						1986						7/73						35
The Waycroft, Arlington, VA			52,067						225,901						53,618						224,287						63						277,968						11,446						266,522						156,116						2017						8/14, 12/14, 9/15, 8/16,						50
Washington Square, Alexandria, VA			2,034						57,524						544						59,014						—						59,558						31,621						27,937						53,745						1952 & 2000						7/73						50
Total Mixed-Use Properties			96,034						670,030						82,114						683,887						63						766,064						218,248						547,816						389,230
Development Land
Ashland Square Phase II, Manassas, VA			5,292						4,714						7,049						—						2,957						10,006						—						10,006						—												12/04
New Market, New Market, MD			2,088						146						2,234						—						—						2,234						—						2,234						—												9/05
Hampden House, Bethesda, MD			39,641						17,257						—						—						56,898						56,898						—						56,898						—												10/18, 12/18
Twinbrook, Rockville, MD			110,021						28,048						—						—						138,069						138,069						—						138,069						—												12/14, 03/21
Total Development Land			157,042						50,165						9,283						—						197,924						207,207						—						207,207						—
Total			$	1,088,613					$	1,195,513					$	511,529					$	1,566,686					$	205,911					$	2,284,126					$	650,113					$	1,634,013					$	949,028

(1)Includes the North and South Blocks and Residential

(2)Amounts do not include deferred debt and therefore will not match the Consolidated Balance Sheet

Depreciation and amortization related to the real estate investments reflected in the statements of operations is calculated over the estimated useful lives of the assets as follows: 

Base building						Generally 35 - 50 years or a shorter period if management determines that
						the building has a shorter useful life.
Building components						Up to 20 years
Tenant improvements						The shorter of the term of the lease or the useful life
						of the improvements

The aggregate remaining net basis of the real estate investments for federal income tax purposes was approximately $1.64 billion at December 31, 2021. Depreciation and amortization are provided on the declining balance and straight-line methods over the estimated useful lives of the assets.

The changes in total real estate investments and related accumulated depreciation for each of the years in the three year period ended December 31, 2021 are summarized as follows:

(In thousands)			2021						2020						2019
Total real estate investments:
Balance, beginning of year			$	2,124,796					$	2,081,597					$	1,948,165
Acquisitions			108,279						—						—
Improvements			54,177						45,396						135,966
Retirements			(3,126)						(2,197)						(2,534)
Balance, end of year			$	2,284,126					$	2,124,796					$	2,081,597
Total accumulated depreciation:
Balance, beginning of year			$	607,706					$	563,474					$	525,518
Depreciation expense			45,487						45,865						40,490
Retirements			(3,080)						(1,633)						(2,534)
Balance, end of year			$	650,113					$	607,706					$	563,474

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- References

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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
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 28

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 970
-SubTopic 360
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-28)
-URI http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024

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