Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation

SCHEDULE III

SITE Centers Corp.

Real Estate and Accumulated Depreciation

December 31, 2021

(In thousands)

													Total Cost,
	Initial Cost				Total Cost⁽¹⁾								Net of				Date of
			Buildings &				Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Land⁽²⁾		Improvements⁽³⁾		Total		Depreciation⁽⁴⁾		Depreciation		Encumbrances⁽⁵⁾		Acquisition (A)
Phoenix, AZ	$	18,701	$	18,929	$	18,701	$	24,597	$	43,298	$	12,002	$	31,296	$	—	1999 (A)
Phoenix, AZ		15,352		24,414		15,352		29,130		44,482		18,887		25,595		—	2003 (A)
Phoenix, AZ		15,090		36,880		18,399		42,553		60,952		15,039		45,913		—	2012 (A)
Buena Park, CA		27,269		21,427		27,269		27,405		54,674		6,300		48,374		—	2015 (A)
Fontana, CA		23,861		57,931		23,861		64,180		88,041		16,120		71,921		—	2014 (A)
Long Beach, CA		—		147,918		—		197,363		197,363		104,791		92,572		—	2005 (C)
Oakland, CA		4,361		33,538		4,361		33,538		37,899		9,612		28,287		—	2013 (A)
Roseville, CA		23,574		67,031		23,574		68,854		92,428		17,165		75,263		—	2014 (A)
San Francisco, CA		10,464		25,730		10,464		31,146		41,610		14,730		26,880		—	2002 (A)
Centennial, CO		7,833		35,550		9,075		68,789		77,864		47,401		30,463		—	1997 (C)
Colorado Springs, CO		9,001		47,671		9,001		60,890		69,891		18,778		51,113		—	2011 (A)
Denver, CO		20,733		22,818		20,804		30,343		51,147		17,811		33,336		—	2003 (A)
Parker, CO		4,632		38,256		4,632		42,830		47,462		10,940		36,522		—	2013 (A)
Guilford, CT		4,588		41,892		6,457		64,406		70,863		12,122		58,741		—	2015 (C)
Windsor Court, CT		6,090		11,745		6,090		12,616		18,706		6,085		12,621		—	2007 (A)
Boynton Beach, FL		6,048		9,256		6,048		9,256		15,304		—		15,304		—	2021 (A)
Brandon, FL		—		4,111		—		27,484		27,484		3,836		23,648		—	1972 (C)
Brandon, FL		4,775		13,117		4,775		19,400		24,175		8,571		15,604		—	2009 (A)
Brandon, FL		2,938		13,685		2,938		18,884		21,822		4,313		17,509		—	2013 (A)
Delray Beach, FL		12,664		26,006		12,664		26,006		38,670		602		38,068		17,578	2021 (A)
Fort Walton Beach, FL		3,643		5,612		3,643		5,612		9,255		—		9,255		—	2021 (A)
Jupiter, FL		8,764		20,051		8,764		20,310		29,074		903		28,171		12,721	2020 (A)
Melbourne, FL		3,111		7,325		3,111		12,557		15,668		1,235		14,433		—	2018 (A)
Miami, FL		11,626		30,457		26,743		121,805		148,548		55,003		93,545		—	2006 (C)
Naples, FL		10,172		39,342		10,172		43,609		53,781		11,461		42,320		—	2013 (A)
Orlando, FL		8,528		56,684		13,057		82,233		95,290		14,166		81,124		—	2016 (C)
Orlando, FL		9,451		16,424		9,451		16,480		25,931		734		25,197		20,018	2020 (A)
Palm Harbor, FL		1,137		4,089		1,137		5,342		6,479		4,119		2,360		—	1995 (A)
Plantation, FL		21,729		37,331		22,112		96,247		118,359		50,138		68,221		—	2007 (A)
Tamarac, FL		16,730		22,139		16,730		22,139		38,869		—		38,869		—	2021 (A)
Tampa, FL		10,000		10,907		10,000		11,090		21,090		868		20,222		9,100	2019 (A)
Tampa, FL		6,800		15,874		6,800		15,874		22,674		—		22,674		—	2021 (A)
Wesley Chapel, FL		8,080		21,567		8,080		21,567		29,647		—		29,647		—	2021 (A)
Winter Garden, FL		38,945		130,382		38,945		139,688		178,633		40,675		137,958		—	2013 (A)
Atlanta, GA		14,078		41,050		14,078		48,077		62,155		18,825		43,330		—	2009 (A)
Atlanta, GA		12,358		17,103		12,358		17,103		29,461		229		29,232		—	2021 (A)
Cumming, GA		14,249		23,653		14,249		29,242		43,491		16,567		26,924		—	2003 (A)
Cumming, GA		6,851		49,659		6,851		50,752		57,603		14,922		42,681		—	2013 (A)
Cumming, GA		3,391		8,218		3,391		8,754		12,145		1,113		11,032		—	2018 (A)

SCHEDULE III

SITE Centers Corp.

Real Estate and Accumulated Depreciation

December 31, 2021

(In thousands)

													Total Cost,
	Initial Cost				Total Cost⁽¹⁾								Net of				Date of
			Buildings &				Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Land⁽²⁾		Improvements⁽³⁾		Total		Depreciation⁽⁴⁾		Depreciation		Encumbrances⁽⁵⁾		Acquisition (A)
Douglasville, GA		2,839		5,511		2,839		7,333		10,172		1,118		9,054		—	2018 (A)
Ellenwood, GA		1,285		4,841		1,285		4,841		6,126		—		6,126		—	2021 (A)
Roswell, GA		6,566		15,005		7,894		29,180		37,074		13,398		23,676		—	2007 (A)
Snellville, GA		10,185		51,815		10,342		61,386		71,728		29,090		42,638		—	2007 (A)
Suwanee, GA		13,479		23,923		13,335		34,873		48,208		19,745		28,463		—	2003 (A)
Chicago, IL		22,642		82,754		22,642		83,275		105,917		21,464		84,453		—	2014 (A)
Chicago, IL		23,588		45,632		23,588		45,954		69,542		8,603		60,939		—	2017 (A)
Schaumburg, IL		27,466		84,679		24,646		92,209		116,855		25,986		90,869		—	2013 (A)
Merriam, KS		15,043		55,028		9,601		50,350		59,951		13,196		46,755		—	2013 (A)
Everett, MA		9,311		44,647		9,462		60,446		69,908		37,109		32,799		—	2001 (C)
Framingham, MA		75,675		191,594		75,675		204,956		280,631		56,382		224,249		—	2013 (A)
Brentwood, MO		10,018		32,053		10,018		41,035		51,053		26,195		24,858		—	1998 (A)
East Hanover, NJ		3,847		23,798		3,847		29,551		33,398		13,887		19,511		—	2007 (A)
Edgewater, NJ		7,714		30,473		7,714		38,453		46,167		15,662		30,505		—	2007 (A)
Freehold, NJ		2,460		2,475		3,166		3,766		6,932		1,548		5,384		—	2005 (C)
Hamilton, NJ		8,039		49,896		10,014		92,699		102,713		49,999		52,714		—	2003 (A)
Princeton, NJ		17,991		82,063		18,998		122,850		141,848		72,156		69,692		—	1997 (A)
Voorhees, NJ		1,350		1,837		1,350		4,960		6,310		135		6,175		—	2020 (A)
West Long Branch, NJ		14,131		51,982		14,131		82,553		96,684		41,151		55,533		—	2004 (A)
Hempstead, NY		26,487		14,418		26,479		14,651		41,130		731		40,399		—	2020 (A)
Charlotte, NC		27,707		45,021		27,707		51,938		79,645		18,839		60,806		—	2011 (A)
Charlotte, NC		11,224		82,124		11,224		99,612		110,836		30,551		80,285		—	2012 (A)
Charlotte, NC		3,600		30,392		8,463		54,782		63,245		12,822		50,423		—	2013 (C)
Cornelius, NC		4,382		15,184		4,382		21,669		26,051		11,391		14,660		—	2007 (A)
Cincinnati, OH		19,572		54,495		19,572		78,245		97,817		19,365		78,452		—	2014 (A)
Columbus, OH		12,922		46,006		14,078		72,976		87,054		49,461		37,593		—	1998 (A)
Columbus, OH		18,716		64,617		20,666		72,158		92,824		24,132		68,692		—	2011 (A)
Dublin, OH		3,609		11,546		3,609		15,957		19,566		11,380		8,186		—	1998 (A)
Mason, OH		2,032		23,788		2,032		28,009		30,041		7,282		22,759		—	2014 (A)
Stow, OH		993		9,028		993		42,895		43,888		26,089		17,799		—	1969 (C)
Westlake, OH		424		4,004		424		30,357		30,781		6,312		24,469		—	1974 (C)
Portland, OR		20,208		50,738		20,208		65,338		85,546		22,950		62,596		—	2012 (A)
Portland, OR		10,122		37,457		10,122		37,895		48,017		2,950		45,067		—	2019 (A)
Boothwyn, PA		6,370		16,931		6,370		17,013		23,383		951		22,432		15,979	2020 (A)
Downingtown, PA		4,175		15,678		4,175		15,925		20,100		932		19,168		—	2020 (A)
Easton, PA		7,691		20,405		7,691		20,772		28,463		1,202		27,261		—	2020 (A)

SCHEDULE III

SITE Centers Corp.

Real Estate and Accumulated Depreciation

December 31, 2021

(In thousands)

													Total Cost,
	Initial Cost				Total Cost⁽¹⁾								Net of				Date of
			Buildings &				Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Land⁽²⁾		Improvements⁽³⁾		Total		Depreciation⁽⁴⁾		Depreciation		Encumbrances⁽⁵⁾		Acquisition (A)
Anderson, SC		1,372		11,656		1,372		11,756		13,128		466		12,662		15,736	2020 (A)
Mount Pleasant, SC		2,430		10,470		2,341		31,164		33,505		17,421		16,084		—	1995 (A)
Brentwood, TN		6,101		25,956		6,101		28,234		34,335		8,227		26,108		—	2013 (A)
Highland Village, TX		5,545		28,365		5,545		30,742		36,287		10,010		26,277		—	2013 (A)
Round Rock, TX		3,467		8,839		3,467		8,804		12,271		722		11,549		—	2019 (A)
San Antonio, TX		3,475		37,327		4,873		53,641		58,514		30,566		27,948		—	2002 (C)
San Antonio, TX		5,602		39,196		10,158		115,143		125,301		50,053		75,248		—	2007 (C)
San Antonio, TX		2,381		6,487		2,381		24,567		26,948		12,635		14,313		—	2007 (A)
Charlottesville, VA		2,181		6,571		2,181		6,571		8,752		133		8,619		—	2021 (A)
Charlottesville, VA		1,400		2,537		1,400		2,537		3,937		7		3,930		—	2021 (A)
Fairfax, VA		15,681		68,536		15,681		71,587		87,268		19,338		67,930		—	2013 (A)
Richmond, VA		11,879		34,736		11,879		37,302		49,181		17,528		31,653		—	2007 (A)
Richmond, VA		7,331		49,278		7,330		51,034		58,364		1,908		56,456		34,250	2020 (A)
Springfield, VA		17,016		40,038		17,016		44,931		61,947		20,790		41,157		—	2007 (A)
Portfolio Balance (SITE)		15,051		202,200		15,051		202,200		217,251		111,538		105,713		—
	$	982,392	$	3,249,802	$	1,019,655	$	4,219,226	$	5,238,881	$	1,571,569	$	3,667,312	$	125,382

(1)	The aggregate cost for federal income tax purposes was approximately $5.5 billion at December 31, 2021.

(2)	Includes $8.3 million of undeveloped land at December 31, 2021.

(3)	Includes $39.0 million of construction in progress at December 31, 2021.

(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 3 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 $0.4 million.

SCHEDULE III

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

	For the Year Ended December 31,
	2021			2020			2019
Balance at beginning of year	$	4,989,388		$	4,709,812		$	4,627,866
Acquisitions		215,998			242,593			80,771
Developments, improvements and expansions		84,130			59,126			109,830
Adjustments of property carrying values (Impairments)		(7,270	)		(5,200	)		(3,370	)
Disposals^(A)		(43,365	)		(16,943	)		(105,285	)
Balance at end of year	$	5,238,881		$	4,989,388		$	4,709,812

(A)	Includes the write-off of fully amortized tenant improvements.

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

	For the Year Ended December 31,
	2021			2020			2019
Balance at beginning of year	$	1,427,057		$	1,289,148		$	1,172,357
Depreciation for year		164,200			154,906			147,372
Disposals		(19,688	)		(16,997	)		(30,581	)
Balance at end of year	$	1,571,569		$	1,427,057		$	1,289,148