XML 39 R26.htm IDEA: XBRL DOCUMENT v3.22.4
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
 12 Months Ended
Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2022
(in thousands)
Initial Cost Gross Amount at End of Year
DescriptionYear of AcquisitionEncumbrancesLand Buildings & Improvements Cost Cap. Sub. To Acq. Land Cost Cap. Sub. To Acq. Bldg & ImprovementsLand Buildings & Improvements Total Bldg & Improvements Accumulated Depreciation Year of Original ConstructionDepreciation Life
Homewood Suites Orlando - Maitland, FL2010—$1,800 $7,200 $34 $5,276 $1,834 $12,476 $14,310 $12,476 $5,328 2000(1)
Homewood Suites Boston - Billerica, MA201014,8041,470 10,555 48 4,161 1,518 14,716 16,234 14,716 5,107 1999(1)
Homewood Suites Minneapolis - Mall of America, Bloomington, MN2010—3,500 13,960 19 4,458 3,519 18,418 21,937 18,418 6,788 1998(1)
Homewood Suites Nashville - Brentwood, TN2010—1,525 9,300 12 4,040 1,537 13,340 14,877 13,340 4,993 1998(1)
Homewood Suites Hartford - Farmington, CT2010—1,325 9,375 92 3,905 1,417 13,280 14,697 13,280 4,570 1999(1)
Hampton Inn & Suites Houston - Houston, TX201016,7063,200 12,709 66 3,223 3,266 15,932 19,198 15,932 5,021 1997(1)
Residence Inn Holtsville - Holtsville, NY2010—2,200 18,765 — 1,457 2,200 20,222 22,422 20,222 6,690 2004(1)
Residence Inn White Plains - White Plains, NY2010—2,200 17,677 — 9,883 2,200 27,560 29,760 27,560 9,965 1982(1)
Residence Inn New Rochelle - New Rochelle, NY2010—— 20,281 9 6,991 9 27,272 27,281 27,272 8,780 2000(1)
Residence Inn Garden Grove - Garden Grove, CA201130,1847,109 35,484 57 5,588 7,166 41,072 48,238 41,072 12,176 2003(1)
Homewood Suites San Antonio - San Antonio, TX201114,4025,999 24,764 7 6,933 6,006 31,697 37,703 31,697 10,004 1996(1)
Residence Inn Washington DC - Washington, DC2011—6,083 22,063 36 7,508 6,119 29,571 35,690 29,571 9,881 1974(1)
Residence Inn Tyson's Corner - Vienna, VA201119,6805,752 28,917 6 2,965 5,758 31,882 37,640 31,882 9,184 2001(1)
Hampton Inn Portland Downtown - Portland, ME2012—4,315 22,664 — 1,309 4,315 23,973 28,288 23,973 5,896 2011(1)
Courtyard Houston - Houston, TX201316,2005,600 27,350 — 3,106 5,600 30,456 36,056 30,456 7,820 2010(1)
Hyatt Place Pittsburgh - Pittsburgh, PA201319,9753,000 35,576 15 1,775 3,015 37,351 40,366 37,351 9,049 2011(1)
Hampton Inn & Suites Exeter - Exeter, NH2013—1,900 12,350 4 1,134 1,904 13,484 15,388 13,484 3,072 2010(1)
Hilton Garden Inn Denver Tech - Denver, CO2013—4,100 23,100 5 850 4,105 23,950 28,055 23,950 5,777 1999(1)
Residence Inn Bellevue - Bellevue, WA201341,13313,800 56,957 — 2,497 13,800 59,454 73,254 59,454 14,180 2008(1)
SpringHill Suites Savannah - Savannah, GA201328,3652,400 36,050 1 1,790 2,401 37,840 40,241 37,840 9,083 2009(1)
Residence Inn Silicon Valley I - Sunnyvale, CA201461,28042,652 45,846 — 6,220 42,652 52,066 94,718 52,066 27,994 1983(1)
Residence Inn Silicon Valley II - Sunnyvale, CA201466,86046,474 50,380 — 7,647 46,474 58,027 104,501 58,027 30,706 1985(1)
Residence Inn San Mateo - San Mateo, CA201445,96038,420 31,352 — 5511 38,420 36,863 75,283 36,863 19,289 1985(1)
Residence Inn Mt. View - Mountain View, CA201435,84222,019 31,813 23 10,281 22,042 42,094 64,136 42,094 22,279 1985(1)
Hyatt Place Cherry Creek - Cherry Creek, CO2014—3,700 26,300 — 1,931 3,700 28,231 31,931 28,231 6,249 1987(1)
Courtyard Addison - Dallas, TX2014—2,413 21,554 — 2,749 2,413 24,303 26,716 24,303 5,521 2000(1)
Residence Inn Gaslamp - San Diego, CA2015—— 89,040 10 2,153 10 91,193 91,203 91,193 18,373 2009(1)
Hilton Garden Inn - Marina del Rey, CA201519,535— 43,210 — 1,078 — 44,288 44,288 44,288 8,251 2013(1)
Residence Inn - Dedham, MA2015—4,230 17,304 — 2,159 4,230 19,463 23,693 19,463 3,807 1998(1)
Residence Inn - Ft. Lauderdale, FL2015—9,200 24,048 14 2,261 9,214 26,309 35,523 26,309 5,010 2008(1)
- continued -
Initial Cost Gross Amount at End of Year
DescriptionYear of AcquisitionEncumbrancesLand Buildings & Improvements Cost Cap. Sub. To Acq. Land Cost Cap. Sub. To Acq. Bldg & ImprovementsLand Buildings & Improvements Total Bldg & Improvements Accumulated Depreciation Year of Original ConstructionDepreciation Life
Home2 Suites - Woodland Hills, CA201739,3316,500 — 127 56,651 6,627 56,651 63,278 56,651 4,108 2022(1)
Hilton Garden Inn - Portsmouth, NH2017—3,600 37,630 — 693 3,600 38,323 41,923 38,323 5,091 2006(1)
Courtyard - Summerville, SC2017—2,500 16,923 7 355 2,507 17,278 19,785 17,278 2226 2014(1)
Embassy Suites - Springfield, VA2017—7,700 58,807 — 481 7,700 59,288 66,988 59,288 7,521 2013(1)
Residence Inn - Summerville, SC2018—2,300 17,060 — 267 2,300 17,327 19,627 17,327 1,925 2018(1)
Courtyard Dallas Downtown - Dallas, TX2018—2,900 42,760 — 146 2,900 42,906 45,806 42,906 4,375 2018(1)
Silicon Valley III - Sunnyvale, CA2018—8,171 — — — 8,171 — 8,171 — — 
Residence Inn Austin Northwest/The Domain Area - Austin, TX2021—2,400 33,346 — 148 2,400 33,494 35,894 33,494 1,184 2016(1)
TownePlace Suites Austin Northwest/The Domain Area - Austin, TX2021—2,300 29,347 — 71 2,300 29,418 31,718 29,418 1,039 2021(1)
Hilton Garden Inn Destin - Miramar Beach, FL2022—4,222 25,246 18 150 4,240 25,396 29,636 25,396 520 2020(1)
Grand Total(s)$288,979 $1,087,063 $610 $179,801 $289,589 $1,266,864 $1,556,453 $1,266,864 $328,832 

(1) Depreciation is computed based upon the following estimated useful lives:
Years
Building40
Land improvements20
Building improvements
5-20
















- continued -
Notes:
(a) The change in total cost of real estate assets for the year ended is as follows:
202220212020
Balance at the beginning of the year$1,557,060 $1,488,830 $1,520,189 
Acquisitions29,468 67,393 — 
Dispositions during the year(95,385)— (52,770)
Capital expenditures and transfers from construction-in-progress65,310 837 21,411 
Investment in Real Estate$1,556,453 $1,557,060 $1,488,830 

(b) The change in accumulated depreciation and amortization of real estate assets for the year ended is as follows:
202220212020
Balance at the beginning of the year$300,731 $257,344 $224,339 
Depreciation and amortization46,558 43,387 42,145 
Dispositions during the year(18,457)— (9,140)
Balance at the end of the year$328,832 $300,731 $257,344 
(c) The aggregate cost of properties for federal income tax purposes (in thousands) is approximately $1,556,626 as of December 31, 2022.