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SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2023

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

FOR THE YEAR ENDED DECEMBER 31, 2023

(In thousands)


											Costs Capitalized
					Initial Cost to Company						Subsequent to Acquisition
Description		Encumbrances			Land			Buildings & Improvements			Improvements			Carrying Costs
Income Properties:
Crabby's Oceanside, Daytona Beach, FL			—			5,836			4,249			45			—
LandShark Bar & Grill, Daytona Beach, FL			—			5,836			4,577			10			—
Fidelity, Albuquerque, NM			—			5,739			29,537			12			—
The Strand at St. Johns Town Center, Jacksonville, FL			—			12,551			36,431			697			—
Crossroads Towne Center, Chandler, AZ			—			5,842			38,881			364			—
Ashford Lane, Atlanta, GA			—			37,717			33,422			24,351			—
Jordan Landing, West Jordan, UT			—			10,529			5,752			—			—
The Shops at Legacy, Plano, TX			—			22,008			27,192			2,382			—
Beaver Creek Crossings, Apex, NC			—			21,391			39,194			454			—
125 Lincoln & 150 Washington, Santa Fe, NM			—			473			12,525			1,824			—
369 N. New York Ave., Winter Park, FL			—			8,535			5,139			1,584			—
The Exchange at Gwinnett, Buford, GA			—			6,599			36,403			59			—
Price Plaza, Katy, TX			—			15,630			17,978			810			—
Madison Yards, Atlanta, GA			—			19,780			47,938			577			—
West Broad Village, Glen Allen, VA			—			12,120			65,829			1,240			—
Collection at Forsyth, Cumming, GA			—			13,349			75,286			414			—
MainStreet Portfolio, Daytona Beach, FL			—			3,504			1,422			257			—
Plaza at Rockwall, Rockwall, TX			—			14,793			42,391			163			—
		$	—		$	222,232		$	524,146		$	35,243		$	—

(1)	The aggregate cost, net of deferred tax liabilities, of Income Properties, Land, Buildings, and Improvements for Federal income tax purposes at December 31, 2023 is approximately $578.1 million.

Gross Amount at Which

Carried at Close of Period

December 31, 2023

(In thousands)


		Land			Buildings			Total			Accumulated Depreciation			Date of Completion of Construction		Date Acquired		Life
Income Properties:
Crabby's Oceanside, Daytona Beach, FL			5,836			4,294			10,130			1,374		01/25/18		N/A		40 Yrs.
LandShark Bar & Grill, Daytona Beach, FL			5,836			4,587			10,423			1,315		01/25/18		N/A		40 Yrs.
Fidelity, Albuquerque, NM			5,739			29,549			35,288			5,903		N/A		10/04/18		45 Yrs.
The Strand at St. Johns Town Center, Jacksonville, FL			12,551			37,128			49,679			5,769		N/A		12/9/2019		48 Yrs.
Crossroads Towne Center, Chandler, AZ			5,842			39,245			45,087			5,147		N/A		1/24/2020		35 Yrs.
Ashford Lane, Atlanta, GA			37,717			57,773			95,490			6,392		N/A		2/21/2020		36 Yrs.
Jordan Landing, West Jordan, UT			10,529			5,752			16,281			849		N/A		3/2/2021		30 Yrs.
The Shops at Legacy, Plano, TX			22,008			29,574			51,582			4,808		N/A		6/23/2021		32 Yrs.
Beaver Creek Crossings, Apex, NC			21,391			39,648			61,039			3,885		N/A		12/2/2021		30 Yrs.
125 Lincoln & 150 Washington, Santa Fe, NM			473			14,349			14,822			1,424		N/A		12/20/2021		30 Yrs.
369 N. New York Ave., Winter Park, FL			8,535			6,723			15,258			676		N/A		12/20/2021		30 Yrs.
The Exchange at Gwinnett, Buford, GA			6,599			36,462			43,061			1,771		N/A		12/30/2021		45 Yrs.
Price Plaza, Katy, TX			15,630			18,788			34,418			1,903		N/A		3/3/2022		25 Yrs.
Madison Yards, Atlanta, GA			19,780			48,515			68,295			1,955		N/A		7/8/2022		42 Yrs.
West Broad Village, Glen Allen, VA			12,120			67,069			79,189			3,216		N/A		10/14/2022		40 Yrs.
Collection at Forsyth, Cumming, GA			13,349			75,700			89,049			3,827		N/A		12/29/2022		31 Yrs.
MainStreet Portfolio, Daytona Beach, FL			3,504			1,679			5,183			109		N/A		12/29/2022		25 Yrs.
Plaza at Rockwall, Rockwall, TX			14,793			42,554			57,347			1,102		N/A		6/9/2023		40 Yrs.
		$	222,232		$	559,389		$	781,621		$	51,425

REAL ESTATE AND ACCUMULATED DEPRECIATION

FOR THE YEAR ENDED DECEMBER 31, 2023

(In thousands)


		2023			2022			2021
Cost:
Balance at Beginning of Year		$	763,959		$	521,260		$	472,126
Additions and Improvements			97,772			281,562			206,646
Cost of Real Estate Sold			(80,110)			(38,863)			(157,512)
Balance at End of Year		$	781,621		$	763,959		$	521,260

Accumulated Depreciation:
Balance at Beginning of Year			35,512			23,936			30,316
Depreciation and Amortization			25,664			16,262			12,270
Depreciation on Real Estate Sold			(9,751)			(4,686)			(18,650)
Balance at End of Year		$	51,425		$	35,512		$	23,936

Reconciliation to Consolidated Balance Sheet at December 31, 2023:
Income Properties, Land, Buildings, and Improvements		$	781,621		$	763,959
			781,621			763,959
Cost Basis of Assets Classified as Held for Sale on Balance Sheet			—			—
Total Per Schedule		$	781,621		$	763,959