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Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

Schedule III - Real Estate and Accumulated Depreciation

(Dollar amounts in thousands)

December 31, 2021

																		Initial Cost to Company																		Gross Amount at Close of Period (1)
Market						Number of Properties						Encumbrances						Land						Buildings and Improvements						Costs Capitalized Subsequent to Acquisition						Land						Buildings and Improvements						Total						Accumulated Depreciation						Date of Construction						Date Acquired						Depreciable Period (Years)
Operating Real Estate
Multi-Family - Operating
Houston, TX						1						$	25,798					$	3,919					$	27,543					$	1,198					$	3,919					$	28,741					$	32,660					$	(1,153)					1998						2021						5			-			30
Fort Myers, FL						1						36,134						7,546						34,504						1,638						7,546						36,142						43,688						(699)						1973 & 1979						2021						5			-			30
Fort Worth, TX						1						21,872						3,202						23,614						1,254						3,202						24,868						28,070						(393)						1985						2021						5			-			30
Tampa, FL						1						49,307						10,152						53,668						534						10,152						54,202						64,354						(917)						1971 & 1972						2021						5			-			30
Birmingham, AL						1						32,040						2,823						42,373						61						2,823						42,434						45,257						(418)						2013						2021						5			-			30
Pearland, TX						1						6,041						—						8,351						77						—						8,428						8,428						(57)						2008						2021						5			-			30
Pearland, TX						1						21,283						2,744						27,590						43						2,744						27,633						30,377						(199)						2011						2021						5			-			30
Orlando, FL						1						35,561						9,012						36,435						—						9,012						36,435						45,447						—						1983						2021						5			-			30
Birmingham, AL						1						71,834						5,875						88,029						—						5,875						88,029						93,904						—						2004 & 2017						2021						5			-			30
Brandon, FL						1						38,918						3,884						48,869						—						3,884						48,869						52,753						—						1974 & 1981						2021						5			-			30
Beaufort, SC						1						24,311						6,113						30,894						—						6,113						30,894						37,007						—						2001						2021						5			-			30
Dallas, TX						1						30,569						3,616						40,497						—						3,616						40,497						44,113						—						2009						2021						5			-			30
Dallas, TX						1						27,736						5,728						34,635						—						5,728						34,635						40,363						—						2014						2021						5			-			30
San Antonio, TX						1						35,775						6,827						43,240						—						6,827						43,240						50,067						—						2014						2021						5			-			30
San Antonio, TX						1						24,027						3,116						35,223						—						3,116						35,223						38,339						—						2015						2021						5			-			30
Collierville, TN						1						32,510						3,113						45,616						—						3,113						45,616						48,729						—						2000						2021						5			-			30
Little Rock, AR						1						19,485						2,366						27,229						—						2,366						27,229						29,595						—						1999						2021						5			-			30
Columbia, SC						1						17,190						2,420						21,363						—						2,420						21,363						23,783						—						1986						2021						5			-			30
St. Petersburg, FL						1						56,216						9,823						74,801						—						9,823						74,801						84,624						—						2014						2021						5			-			30

Louisville, KY						1						43,126						5,567						52,819						—						5,567						52,819						58,386						—						2017						2021						5			-			30
Houston, TX						1						22,835						6,406						25,211						—						6,406						25,211						31,617						—						1993						2021						5			-			30
Total Multi-Family - Operating						21						$	672,568					$	104,252					$	822,504					$	4,805					$	104,252					$	827,309					$	931,561					$	(3,836)
Single-Family Rental - Operating
Chicago, IL						127						$	—					$	6,075					$	27,481					$	1,905					$	6,075					$	29,386					$	35,461					$	(54)					1890 - 2010						2021						5			-			30
Baltimore, MD						10						—						713						1,963						2						713						1,965						2,678						—						1952 - 1986						2021						5			-			30
Houston, TX						3						—						142						521						—						142						521						663						—						1972 - 1984						2021						5			-			30
Total Single-Family Rental - Operating						140						$	—					$	6,930					$	29,965					$	1,907					$	6,930					$	31,872					$	38,802					$	(54)
Total Operating Real Estate						161						$	672,568					$	111,182					$	852,469					$	6,712					$	111,182					$	859,181					$	970,363					$	(3,890)
Real Estate Held for Sale
Multi-Family - Held for Sale
Gainesville, FL						1						$	36,788					$	5,400					$	45,080					$	2,713					$	5,400					$	47,793					$	53,193					$	(1,926)					2000						2020						5			-			30
Total Multi-Family - Held for Sale						1						$	36,788					$	5,400					$	45,080					$	2,713					$	5,400					$	47,793					$	53,193					$	(1,926)
Total Real Estate						162						$	709,356					$	116,582					$	897,549					$	9,425					$	116,582					$	906,974					$	1,023,556					$	(5,816)

(1)The aggregate cost of consolidated real estate in the table above for federal income tax purposes was $1.0 billion as of December 31, 2021.

Notes to Schedule III (Dollar amounts in thousands)

1.Reconciliation of Operating Real Estate

						For the Years Ended December 31,
						2021						2020						2019
Balance at beginning of period						$	50,686					$	—					$	—
Acquisitions						963,651						50,480						—
Improvements						9,219						206						—
Reclassification to held for sale						(53,193)						—						—
Balance at end of period						$	970,363					$	50,686					$	—

2.Reconciliation of Accumulated Depreciation for Operating Real Estate

						For the Years Ended December 31,
						2021						2020						2019
Balance at beginning of period						$	(154)					$	—					$	—
Depreciation						(5,662)						(154)						—
Reclassification to held for sale						1,926						—						—
Balance at end of period						$	(3,890)					$	(154)					$	—

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- References

No definition available.

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X

- 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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