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

SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2020

(In Thousands)


				Initial Cost						Subsequent Capitalized Additions						Total Cost
Location and Description of Property	Date Acquired	Encumbrances		Land and Land Improvements		Buildings & Improvements		Permanent Plantings		Land Improvements		Buildings & Improvements		Permanent Plantings		Land and Land Improvements		Buildings & Improvements		Permanent Plantings		Total(1)		Accumulated Depreciation(2)
Santa Cruz County, California: Land & Improvements	6/16/1997	$	7,929	$	4,350	$	—	$	—	$	—	$	579	$	—	$	4,350	$	579	$	—	$	4,929	$	(341)
Ventura County, California: Land, Buildings & Improvements	9/15/1998	30,899		9,895		5,256		—		—		293		—		9,895		5,549		—		15,444		(4,306)
Santa Cruz County, California: Land & Improvements	1/3/2011	6,914		8,328		—		—		443		527		—		8,771		527		—		9,298		(171)


Hillsborough County, Florida: Land, Buildings & Improvements	9/12/2012	2,575		2,199		1,657		—		14		1,328		—		2,213		2,985		—		5,198		(1,219)


Monterey County, California: Land, Buildings & Improvements	10/21/2013	4,956		7,187		164		—		180		3,118		—		7,367		3,282		—		10,649		(727)


Cochise County, Arizona: Land, Buildings & Improvements	12/27/2013	2,940		6,168		572		—		8		4,548		—		6,176		5,120		—		11,296		(1,118)

Santa Cruz County, California: Land, Building & Improvements	6/13/2014	3,012		5,576		207		—		—		12		—		5,576		219		—		5,795		(208)

Ventura County, California: Land, Buildings & Improvements	7/23/2014	2,241		6,219		505		—		—		85		—		6,219		590		—		6,809		(229)
Kern County, California: Land & Improvements	7/25/2014	2,925		5,841		67		—		—		993		—		5,841		1,060		—		6,901		(382)
Manatee County, Florida: Land, Buildings & Improvements	9/29/2014	9,001		8,466		5,426		—		—		667		—		8,466		6,093		—		14,559		(3,296)
Ventura County, California: Land, Buildings & Improvements	10/29/2014	15,741		23,673		350		—		—		2,166		—		23,673		2,516		—		26,189		(569)
Ventura County, California: Land & Improvements	11/4/2014	3,180		5,860		92		—		—		2		—		5,860		94		—		5,954		(58)
Monterey County, California: Land, Buildings & Improvements	1/5/2015	10,673		15,852		582		—		(156)		1,426		—		15,696		2,008		—		17,704		(765)
Manatee County, Florida: Land, Buildings & Improvements	3/10/2015	3,750		2,403		1,871		—		—		84		—		2,403		1,955		—		4,358		(1,024)
Hendry County, Florida: Land, Buildings & Improvements	6/25/2015	10,356		14,411		789		—		—		—		—		14,411		789		—		15,200		(626)
Rock County, Nebraska: Land, Buildings & Improvements	8/20/2015	3,516		4,862		613		—		—		—		—		4,862		613		—		5,475		(421)
Holt County, Nebraska: Land, Buildings & Improvements	8/20/2015	3,534		4,690		786		—		—		—		—		4,690		786		—		5,476		(346)
Kern County, California: Land & Improvements	9/3/2015	16,324		18,893		497		—		688		5,959		1,418		19,581		6,456		1,418		27,455		(1,986)

Cochise County, Arizona: Land, Buildings & Improvements	12/23/2015	3,210		4,234		1,502		—		5		3,298		—		4,239		4,799		—		9,038		(791)
Saguache County, Colorado: Land, Buildings & Improvements	3/3/2016	15,313		16,756		8,348		—		—		1,486		—		16,756		9,834		—		26,590		(4,540)
Fresno County, California: Land, Improvements & Permanent plantings	4/5/2016	8,117		3,623		1,228		11,455		—		196		—		3,623		1,424		11,455		16,501		(2,401)
Saint Lucie County, Florida: Land, Buildings & Improvements	7/1/2016	2,743		4,165		971		—		—		—		—		4,165		971		—		5,136		(437)

Baca County, Colorado: Land & Buildings	9/1/2016	3,498		6,167		214		—		—		—		—		6,167		214		—		6,381		(62)
Merced County, Colorado: Land & Improvements	9/14/2016	7,696		12,845		504		—		—		190		—		12,845		694		—		13,539		(106)
Stanislaus County, Colorado: Land & Improvements	9/14/2016	8,337		14,114		45		—		—		463		—		14,114		508		—		14,622		(82)
Fresno County, California: Land, Improvements & Permanent plantings	10/13/2016	3,501		2,937		139		3,452		—		—		—		2,937		139		3,452		6,528		(769)
Baca County, Colorado: Land & Improvements	12/28/2016	6,763		11,430		278		—		—		—		—		11,430		278		—		11,708		(222)
Martin County, Florida: Land & Improvements	1/12/2017	32,400		52,443		1,627		—		—		—		—		52,443		1,627		—		54,070		(260)


Yuma County, Arizona Land & Improvements	6/1/2017	13,694	12,390	12,191	—	151	18,207	—	12,541	30,398	—	42,939	(4,145)

Fresno County, California: Land, Improvements & Permanent plantings	7/17/2017	7,110	5,048	777	7,818	2	1,364	—	5,050	2,141	7,818	15,009	(1,548)
Santa Barbara County, California: Land, Improvements & Permanent plantings	8/9/2017	3,225	4,559	577	397	(50)	148	1,494	4,509	724	1,891	7,124	(403)
Okeechobee County, Florida: Land & Improvements	8/9/2017	5,230	9,111	953	—	985	1,094	—	10,096	2,047	—	12,143	(377)
Walla Walla County, Washington: Land, Improvements & Permanent plantings	9/8/2017	4,860	5,286	401	3,739	—	—	—	5,286	401	3,739	9,426	(1,724)

Fresno County, California: Land, Improvements & Permanent plantings	12/15/2017	3,207	2,016	324	3,626	(1)	—	(3)	2,015	324	3,623	5,962	(1,092)
Kern County, California: Land & Improvements	1/31/2018	1,358	2,733	249	—	(4)	1,526	—	2,729	1,775	—	4,504	(128)

Collier & Hendry, Florida Land & Improvements	7/12/2018	21,504	36,223	344	—	1	—	—	36,224	344	—	36,568	(121)

Kings County, California: Land, Improvements & Permanent plantings	9/13/2018	4,025	3,264	284	3,349	5	—	5	3,269	284	3,354	6,907	(237)
Madera, California: Land, Improvements & Permanent plantings	11/1/2018	13,385	12,305	1,718	9,015	13	2	9	12,318	1,720	9,024	23,062	(725)
Hartley County, Texas: Land & Improvements	11/20/2018	5,117	7,320	1,054	—	3	96	—	7,323	1,150	—	8,473	(145)


Madera County, California: Land & Improvements	4/9/2019	17,130	8,074	2,696	17,916	—	525	—	8,074	3,221	17,916	29,212	(1,613)

Allegran and Van Buren County, Michigan: Land & Improvements	6/4/2019	2,996	1,634	800	2,694	—	—	—	1,634	800	2,694	5,128	(291)
Yolo County, California: Land & Improvements	6/13/2019	5,073	5,939	665	2,648	—	—	—	5,939	665	2,648	9,252	(215)
Monterey County, California: Land & Improvements	7/11/2019	5,860	8,629	254	—	1,192	1,698	—	9,821	1,952	—	11,773	(69)
Martin County, Florida: Land & Improvements	7/22/2019	36,733	51,691	6,595	—	4	1	—	51,695	6,596	—	58,291	(734)
Fresno County, California: Land & Improvements	8/16/2019	40,811	24,772	13,410	31,420	4	8	10	24,776	13,418	31,430	69,624	(2,295)
Ventura County, California: Land & Improvements	8/28/2019	13,059	20,602	397	—	172	1,163	—	20,774	1,560	—	22,334	(152)
Napa County, California: Land & Improvements	8/29/2019	18,262	27,509	1,646	2,923	3,235	—	—	30,744	1,646	2,923	35,313	(510)
Hayes County, Nebraska: Land & Improvements	10/7/2019	3,045	4,750	264	—	16	1	—	4,766	265	—	5,031	(55)
Hayes & Hitchcock County, Nebraska: Land & Improvements	10/7/2019	5,739	9,275	431	—	20	1	—	9,295	432	—	9,727	(100)
Phillips County, Colorado: Land & Improvements	1/15/2020	4,500	6,875	660	—	—	—	—	6,875	660	—	7,535	(63)

Kern County, California: Land, Improvements & Permanent plantings	6/24/2020	8,500	12,521	1,325	370	—	—	—	12,521	1,325	370	14,216	—
Wicomico & Caroline County, Maryland, and Sussex County, Delaware: Land & Improvements	8/31/2020	4,481	6,703	626	—	—	36	—	6,703	662	—	7,365	(21)
Fresno County, California: Land & Improvements	9/3/2020	18,764	15,071	4,680	11,921	—	28	—	15,071	4,708	11,921	31,700	(278)
Fresno County, California: Land, Improvements & Permanent plantings	10/1/2020	18,817	7,128	9,206	15,242	33	—	—	7,161	9,206	15,242	31,609	(283)


Ventura County, California: Land & Improvements	12/15/2020	12,450	19,215	1,264	—	50	—	—	19,265	1,264	—	20,529	(5)
Tulare County, California: Land, Improvements & Permanent plantings	12/17/2020	22,319	26,952	6,420	28,152	77	—	—	27,029	6,420	28,152	61,601	(110)
San Joaquin County, California: Land, Improvements, & Permanent plantings	12/24/2020	20,615	8,219	7,228	16,281	41	—	—	8,260	7,228	16,281	31,769	(59)


Whatcom County, Washington: Land, Improvements, & Permanent plantings	12/24/2020	22,750		12,265		2,142		19,924		38		—		—		12,303		2,142		19,924		34,369		(89)
Tulare County, California: Land, Improvements & Permanent plantings	12/31/2020	—		1,082		1,154		1,977		31		—		—		1,113		1,154		1,977		4,244		—
Miscellaneous Investments	Various	26,257		35,112		8,687		4,194		58		2,657		974		35,169		11,345		5,168		51,683		(4,187)

		$	627,690	$	706,070	$	123,712	$	198,513	$	7,263	$	55,975	$	3,907	$	713,332	$	179,686	$	202,420	$	1,095,439	$	(49,236)

(1)The aggregate cost for land, buildings, improvements and long-lived horticulture plantings for federal income tax purposes is approximately $1.1 billion.

(2)The Company computes depreciation using the straight-line method over the shorter of the estimated useful life or 39 years for buildings and improvements, the shorter of the estimated useful life or 40 years for permanent plantings, 5 to 10 years for equipment and fixtures and the shorter of the useful life or the remaining lease term for tenant improvements.

The following table reconciles the change in the balance of real estate during the years ended December 31, 2020 and 2019, respectively (dollars in thousands):


	2020		2019
Balance, beginning of period	$	827,255	$	563,004
Additions:
Acquisitions during the period	257,055		252,817
Improvements	11,129		11,434
Deductions:
Dispositions during period	—		—

Balance, end of period	$	1,095,439	$	827,255

The following table reconciles the change in the balance of accumulated depreciation during the years ended December 31, 2020 and 2019, respectively (dollars in thousands):


	2020		2019
Balance, beginning of period	$	35,174	$	24,051
Additions during period	16,655		11,230
Dispositions during period	(2,593)		(107)
Balance, end of period	$	49,236	$	35,174