Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2019

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation

SCHEDULE III

SITE Centers Corp.

Real Estate and Accumulated Depreciation

December 31, 2019

(In thousands)

															Total Cost,
	Initial Cost						Total Cost⁽¹⁾								Net of				Date of
			Buildings &						Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Improvements		Land⁽²⁾		Improvements⁽³⁾		Total		Depreciation⁽⁴⁾		Depreciation		Encumbrances⁽⁵⁾		Acquisition (A)
Phoenix, AZ	$	18,701	$	18,811	$	118	$	18,701	$	23,707	$	42,408	$	9,956	$	32,452	$	—	1999 (A)
Phoenix, AZ		15,352		22,813		1,601		15,352		29,353		44,705		17,516		27,189		28,578	2003 (A)
Phoenix, AZ		15,090		36,880		—		18,399		42,292		60,691		12,226		48,465		—	2012 (A)
Buena Park, CA		27,269		21,427		—		27,269		26,786		54,055		3,948		50,107		—	2015 (A)
Fontana, CA		23,861		57,931		—		23,861		61,645		85,506		11,353		74,153		—	2014 (A)
Long Beach, CA		—		147,918		—		—		196,967		196,967		87,465		109,502		—	2005 (C)
Oakland, CA		4,361		33,538		—		4,361		33,538		37,899		7,437		30,462		—	2013 (A)
Roseville, CA		23,574		67,031		—		23,574		68,003		91,577		12,731		78,846		—	2014 (A)
San Francisco, CA		10,464		25,730		—		10,464		26,089		36,553		12,968		23,585		—	2002 (A)
Centennial, CO		7,833		35,550		—		9,075		68,419		77,494		42,695		34,799		—	1997 (C)
Colorado Springs, CO		9,001		47,671		—		9,001		56,810		65,811		14,135		51,676		16,437	2011 (A)
Denver, CO		20,733		22,818		—		20,804		29,733		50,537		16,069		34,468		—	2003 (A)
Parker, CO		4,632		38,256		—		4,632		41,139		45,771		8,206		37,565		—	2013 (A)
Guilford, CT		4,588		41,892		—		6,457		63,662		70,119		7,827		62,292		—	2015 (C)
Windsor Court, CT		6,090		11,745		—		6,090		12,509		18,599		5,215		13,384		—	2007 (A)
Brandon, FL		—		4,111		—		—		9,077		9,077		2,468		6,609		—	1972 (C)
Brandon, FL		4,775		13,117		—		4,775		19,165		23,940		6,729		17,211		—	2009 (A)
Brandon, FL		2,938		13,685		—		2,938		13,999		16,937		3,271		13,666		—	2013 (A)
Melbourne, FL		3,111		7,325		—		3,111		7,486		10,597		326		10,271		—	2018 (A)
Miami, FL		11,626		30,457		—		26,743		120,901		147,644		46,777		100,867		—	2006 (C)
Naples, FL		10,172		39,342		—		10,172		41,822		51,994		8,181		43,813		—	2013 (A)
Orlando, FL		8,528		56,684		—		12,836		79,817		92,653		8,687		83,966		—	2016 (C)
Palm Harbor, FL		1,137		4,089		—		1,137		5,172		6,309		3,906		2,403		—	1995 (A)
Plantation, FL		21,729		37,331		—		22,112		97,953		120,065		44,934		75,131		—	2007 (A)
Tampa, FL		10,000		10,907		—		10,000		10,907		20,907		35		20,872		9,100	2019 (A)
Winter Garden, FL		38,945		130,382		—		38,945		137,590		176,535		30,895		145,640		—	2013 (A)
Atlanta, GA		14,078		41,050		—		14,078		47,843		61,921		15,259		46,662		—	2009 (A)
Cumming, GA		14,249		23,653		—		14,249		26,291		40,540		14,589		25,951		—	2003 (A)
Cumming, GA		6,851		49,659		—		6,851		50,296		57,147		11,686		45,461		—	2013 (A)
Cumming, GA		3,391		8,218		—		3,391		8,420		11,811		396		11,415		—	2018 (A)
Douglasville, GA		2,839		5,511		—		2,839		6,723		9,562		276		9,286		—	2018 (A)
Roswell, GA		6,566		15,005		—		7,894		27,422		35,316		11,575		23,741		—	2007 (A)
Snellville, GA		10,185		51,815		—		10,342		58,361		68,703		24,984		43,719		—	2007 (A)
Suwanee, GA		13,479		23,923		—		13,335		35,553		48,888		18,200		30,688		—	2003 (A)
Chicago, IL		22,642		82,754		—		22,642		83,282		105,924		15,651		90,273		—	2014 (A)
Chicago, IL		23,588		45,632		—		23,588		45,948		69,536		5,126		64,410		—	2017 (A)
Schaumburg, IL		27,466		84,679		—		27,466		96,912		124,378		19,721		104,657		—	2013 (A)
Merriam, KS		15,043		55,028		—		15,043		55,906		70,949		11,443		59,506		—	2013 (A)
Everett, MA		9,311		44,647		—		9,462		59,325		68,787		32,153		36,634		—	2001 (C)
Framingham, MA		75,675		191,594		—		75,675		199,879		275,554		42,520		233,034		—	2013 (A)

															Total Cost,
	Initial Cost						Total Cost⁽¹⁾								Net of				Date of
			Buildings &						Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Improvements		Land⁽²⁾		Improvements⁽³⁾		Total		Depreciation⁽⁴⁾		Depreciation		Encumbrances⁽⁵⁾		Acquisition (A)
Brentwood, MO		10,018		32,053		—		10,018		40,541		50,559		22,727		27,832		—	1998 (A)
East Hanover, NJ		3,847		23,798		—		3,847		29,427		33,274		11,205		22,069		—	2007 (A)
Edgewater, NJ		7,714		30,473		—		7,714		34,758		42,472		12,955		29,517		—	2007 (A)
Freehold, NJ		2,460		2,475		—		3,166		3,822		6,988		1,277		5,711		—	2005 (C)
Hamilton, NJ		8,039		49,896		—		11,774		91,065		102,839		43,807		59,032		—	2003 (A)
Princeton, NJ		13,448		74,249		—		14,455		113,286		127,741		62,763		64,978		—	1997 (A)
West Long Branch, NJ		14,131		51,982		—		14,131		80,533		94,664		33,506		61,158		—	2004 (A)
Charlotte, NC		27,707		45,021		—		27,707		50,804		78,511		15,435		63,076		—	2011 (A)
Charlotte, NC		11,224		82,124		—		11,224		96,903		108,127		23,120		85,007		—	2012 (A)
Charlotte, NC		3,600		30,392		—		8,022		53,337		61,359		9,158		52,201		—	2013 (C)
Cornelius, NC		4,382		15,184		—		4,382		21,247		25,629		10,025		15,604		—	2007 (A)
Cincinnati, OH		19,572		54,495		—		19,572		74,777		94,349		12,753		81,596		—	2014 (A)
Columbus, OH		12,922		46,006		—		14,078		72,398		86,476		42,579		43,897		—	1998 (A)
Columbus, OH		18,716		64,617		—		20,666		71,453		92,119		19,203		72,916		40,081	2011 (A)
Dublin, OH		3,609		11,546		—		3,609		15,610		19,219		10,110		9,109		—	1998 (A)
Mason, OH		2,032		23,788		—		2,032		26,830		28,862		5,111		23,751		—	2014 (A)
Stow, OH		993		9,028		—		993		39,705		40,698		23,257		17,441		—	1969 (C)
Westlake, OH		424		3,803		201		424		28,981		29,405		4,464		24,941		—	1974 (C)
Portland, OR		20,208		50,738		—		20,208		59,651		79,859		15,317		64,542		—	2012 (A)
Portland, OR		10,122		37,457		—		10,122		37,457		47,579		231		47,348		—	2019 (A)
Mount Pleasant, SC		2,430		10,470		—		2,341		22,798		25,139		15,214		9,925		—	1995 (A)
Brentwood, TN		6,101		25,956		—		6,101		27,866		33,967		6,160		27,807		—	2013 (A)
Highland Village, TX		5,545		28,365		—		5,545		30,551		36,096		7,691		28,405		—	2013 (A)
Round Rock, TX		3,467		8,839		—		3,467		8,839		12,306		82		12,224		—	2019 (A)
San Antonio, TX		3,475		37,327		—		4,873		52,387		57,260		26,553		30,707		—	2002 (C)
San Antonio, TX		5,602		39,196		—		10,158		114,747		124,905		42,616		82,289		—	2007 (C)
San Antonio, TX		2,381		6,487		—		2,381		24,481		26,862		10,596		16,266		—	2007 (A)
Fairfax, VA		15,681		68,536		—		15,681		70,343		86,024		14,504		71,520		—	2013 (A)
Richmond, VA		11,879		34,736		—		11,879		36,751		48,630		15,143		33,487		—	2007 (A)
Springfield, VA		17,016		40,038		—		17,016		44,694		61,710		17,461		44,249		—	2007 (A)
Portfolio Balance (SITE)		28,459		213,359		—		28,459		213,359		241,818		104,590		137,228		—
	$	847,077	$	2,953,043	$	1,920	$	893,709	$	3,816,103	$	4,709,812	$	1,289,148	$	3,420,664	$	94,196

(1)	The aggregate cost for federal income tax purposes was approximately $5.0 billion at December 31, 2019.

(2)	Includes $12.3 million of undeveloped land at December 31, 2019.

(3)	Includes $47.4 million of construction in progress at December 31, 2019.

(4)	Depreciation and amortization is recorded on a straight-line basis over the estimated useful lives of the assets as follows:

	Buildings		Useful lives, 31.5 to 40 years
	Building improvements and fixtures		Useful lives, ranging from 5 to 20 years
	Tenant improvements		Shorter of economic life or lease terms

(5)	Excludes fair market value of debt adjustments and net loan costs aggregating $0.7 million.

SCHEDULE III

The changes in Total Real Estate Assets are as follows (in thousands):

	For the Year Ended December 31,
	2019			2018			2017
Balance at beginning of year	$	4,627,866		$	8,248,003		$	9,244,058
Acquisitions		80,771			34,675			82,137
Developments, improvements and expansions		109,830			120,325			119,651
Adjustments of property carrying values (Impairments)		(3,370	)		(56,317	)		(345,282	)
Disposals		(105,285	)		(998,776	)		(852,561	)
Spin-off of RVI	—				(2,720,044	)	—
Balance at end of year	$	4,709,812		$	4,627,866		$	8,248,003

The changes in Accumulated Depreciation and Amortization are as follows (in thousands):

	For the Year Ended December 31,
	2019			2018			2017
Balance at beginning of year	$	1,172,357		$	1,953,479		$	1,996,176
Depreciation for year		147,372			207,902			285,484
Disposals		(30,581	)		(268,405	)		(328,181	)
Spin-off of RVI	—				(720,619	)	—
Balance at end of year	$	1,289,148		$	1,172,357		$	1,953,479