SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2020

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

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2020

(in thousands)


			Initial Cost								Gross Amount at End of Year
Description	Year of Acquisition	Encumbrances	Land		Buildings & Improvements		Cost Cap. Sub. To Acq. Land		Cost Cap. Sub. To Acq. Bldg & Improvements		Land		Buildings & Improvements		Total		Bldg & Improvements		Accumulated Depreciation		Year of Original Construction	Depreciation Life

Homewood Suites Orlando - Maitland, FL	2010	—	$	1,800	$	7,200	$	34	$	5,185	$	1,834	$	12,385	$	14,219	$	12,385	$	4,135	2000	(1)
Homewood Suites Boston - Billerica, MA	2010	15,693	1,470		10,555		48		3,848		1,518		14,403		15,921		14,403		3,990		1999	(1)
Homewood Suites Minneapolis - Mall of America, Bloomington, MN	2010	—	3,500		13,960		19		4,101		3,519		18,061		21,580		18,061		5,414		1998	(1)
Homewood Suites Nashville - Brentwood, TN	2010	—	1,525		9,300		12		3,683		1,537		12,983		14,520		12,983		3,929		1998	(1)
Homewood Suites Dallas - Market Center, Dallas, TX	2010	—	2,500		7,583		30		4,230		2,530		11,813		14,343		11,813		3,402		1998	(1)
Homewood Suites Hartford - Farmington, CT	2010	—	1,325		9,375		92		3,556		1,417		12,931		14,348		12,931		3,556		1999	(1)
Hampton Inn & Suites Houston - Houston, TX	2010	17,717	3,200		12,709		60		3,089		3,260		15,798		19,058		15,798		3,913		1997	(1)
Residence Inn Holtsville - Holtsville, NY	2010	—	2,200		18,765		—		1,244		2,200		20,009		22,209		20,009		5,563		2004	(1)
Residence Inn White Plains - White Plains, NY	2010	—	2,200		17,677		—		9,362		2,200		27,039		29,239		27,039		7,720		1982	(1)
Residence Inn New Rochelle - New Rochelle, NY	2010	12,936	—		20,281		9		6,642		9		26,923		26,932		26,923		6,777		2000	(1)
Residence Inn Garden Grove - Garden Grove, CA	2011	32,053	7,109		35,484		57		3,568		7,166		39,052		46,218		39,052		9,564		2003	(1)
Homewood Suites San Antonio - San Antonio, TX	2011	15,563	5,999		24,764		7		5,488		6,006		30,252		36,258		30,252		7,948		1996	(1)
Residence Inn Washington DC - Washington, DC	2011	—	6,083		22,063		28		6,145		6,111		28,208		34,319		28,208		7,868		1974	(1)
Residence Inn Tyson's Corner - Vienna, VA	2011	21,291	5,752		28,917		—		2,630		5,752		31,547		37,299		31,547		7,281		2001	(1)
Hampton Inn Portland Downtown - Portland, ME	2012	—	4,315		22,664		—		363		4,315		23,027		27,342		23,027		4,641		2011	(1)
Courtyard Houston - Houston, TX	2013	17,559	5,600		27,350		—		2,802		5,600		30,152		35,752		30,152		6,043		2010	(1)
Hyatt Place Pittsburgh - Pittsburgh, PA	2013	21,520	3,000		35,576		—		1,442		3,000		37,018		40,018		37,018		7,035		2011	(1)
Hampton Inn & Suites Exeter - Exeter, NH	2013	—	1,900		12,350		4		164		1,904		12,514		14,418		12,514		2,345		2010	(1)
Hilton Garden Inn Denver Tech - Denver, CO	2013	—	4,100		23,100		5		670		4,105		23,770		27,875		23,770		4,539		1999	(1)
Residence Inn Bellevue - Bellevue, WA	2013	43,857	13,800		56,957		—		2,351		13,800		59,308		73,108		59,308		11,022		2008	(1)
SpringHill Suites Savannah - Savannah, GA	2013	29,817	2,400		36,050		1		1,605		2,401		37,655		40,056		37,655		7,026		2009	(1)
Residence Inn Silicon Valley I - Sunnyvale, CA	2014	64,406	42,652		45,846		—		5,914		42,652		51,760		94,412		51,760		20,944		1983	(1)
Residence Inn Silicon Valley II - Sunnyvale, CA	2014	70,270	46,474		50,380		—		7,223		46,474		57,603		104,077		57,603		22,865		1985	(1)
Residence Inn San Mateo - San Mateo, CA	2014	48,305	38,420		31,352		—		5393		38,420		36,745		75,165		36,745		14,274		1985	(1)
Residence Inn Mt. View - Mountain View, CA	2014	37,670	22,019		31,813		—		10,186		22,019		41,999		64,018		41,999		16,600		1985	(1)
Hyatt Place Cherry Creek - Cherry Creek, CO	2014	—	3,700		26,300		—		1,844		3,700		28,144		31,844		28,144		4,654		1987	(1)
Courtyard Addison - Dallas, TX	2014	—	2,413		21,554		—		2,566		2,413		24,120		26,533		24,120		4,053		2000	(1)

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			Initial Cost								Gross Amount at End of Year
Description	Year of Acquisition	Encumbrances	Land		Buildings & Improvements		Cost Cap. Sub. To Acq. Land		Cost Cap. Sub. To Acq. Bldg & Improvements		Land		Buildings & Improvements		Total		Bldg & Improvements		Accumulated Depreciation		Year of Original Construction	Depreciation Life

Courtyard West University - Houston, TX	2014	—	2,012		17,916		—		1437		2,012		19,353		21,365		19,353		2,978		2004	(1)
Residence Inn West University - Houston, TX	2014	—	3,640		25,631		—		1,551		3,640		27,182		30,822		27,182		4,503		2004	(1)
Hilton Garden Inn Burlington - Burlington, MA	2014	—	4,918		27,193		—		1,524		4,918		28,717		33,635		28,717		4,860		1975	(1)
Residence Inn Gaslamp - San Diego, CA	2015	—	—		89,040		10		2,079		10		91,119		91,129		91,119		13,580		2009	(1)
Hilton Garden Inn - Marina del Rey, CA	2015	20,931	—		43,210		—		656		—		43,866		43,866		43,866		5,934		2013	(1)
Residence Inn - Dedham, MA	2015	—	4,230		17,304		—		1,935		4,230		19,239		23,469		19,239		2,614		1998	(1)
Residence Inn - Ft. Lauderdale, FL	2015	—	9,200		24,048		—		1,887		9,200		25,935		35,135		25,935		3,501		2008	(1)
Warner Center	2017	—	6,500		—		99		—		6,599		—		6,599		—		—
Hilton Garden Inn - Portsmouth, NH	2017	—	3,600		37,630		—		520		3,600		38,150		41,750		38,150		3,133		2006	(1)
Courtyard - Summerville, SC	2017	—	2,500		16,923		6		136		2,506		17,059		19,565		17,059		1337		2014	(1)
Embassy Suites - Springfield, VA	2017	—	7,700		58,807		—		350		7,700		59,157		66,857		59,157		4,544		2013	(1)
Residence Inn - Summerville, SC	2018	—	2,300		17,060		—		246		2,300		17,306		19,606		17,306		1,033		2018	(1)
Courtyard Dallas Downtown - Dallas, TX	2018	—	2,900		42,760		—		120		2,900		42,880		45,780		42,880		2,226		2018	(1)
Sili III	2018	—	8,171		—		—		—		8,171		—		8,171		—		—

Grand Total(s)			$	293,127	$	1,077,447	$	521	$	117,735	$	293,648	$	1,195,182	$	1,488,830	$	1,195,182	$	257,344

(1) Depreciation is computed based upon the following estimated useful lives:

Years

Building

Land improvements

Building improvements

5-20

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Notes:

(a) The change in total cost of real estate assets for the year ended is as follows:
	2020		2019		2018		2017		2016		2015
Balance at the beginning of the year	$	1,520,189	$	1,510,864	$	1,431,374	$	1,320,273	$	1,306,192	1,105,504
Acquisitions	—		8,171		65,020		133,660		—		187,032
Dispositions during the year	(52,770)		(17,889)		—		(33053)		—		—
Capital expenditures and transfers from construction-in-progress	21,411		19,043		14,470		10,494		14,081		13,656
Investment in Real Estate	$	1,488,830	$	1,520,189	$	1,510,864	$	1,431,374	$	1,320,273	$	1,306,192


(b) The change in accumulated depreciation and amortization of real estate assets for the year ended is as follows:

Balance at the beginning of the year	$	224,339	$	187,780	$	148,071	$	116,866	$	83,245	50,910
Depreciation and amortization	42,145		41,908		39,709		36,401		33,621		32,335
Dispositions during the year	$	(9,140)	$	(5349)	$	—	$	(5196)	$	—	$	—
Balance at the end of the year	$	257,344	$	224,339	$	187,780	$	148,071	$	116,866	$	83,245

(c) The aggregate cost of properties for federal income tax purposes (in thousands) is approximately $1,488.736 as of December 31, 2020.