| Schedule III |
SCHEDULE III
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Initial Cost (b) |
|
Net Improvements (Retirement) since Acquisition |
|
Gross Amounts at Which Carried at December 31, 2014 |
|
Accumulated Depreciation at December 31, 2014 |
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Properties |
|
Location |
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Land |
|
Buildings and Improvements |
|
Land |
|
Buildings and Improvements |
|
Total (c) |
|
Year of Construction |
|
Date of Acquisition |
|
Net
Rentable
Square
Feet (e)
|
|
Units |
|
Depreciation Life (d) |
Multifamily Properties |
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3801 Connecticut Avenue (a) |
|
Washington, DC |
|
$ |
420,000 |
|
|
$ |
2,678,000 |
|
|
$ |
10,698,000 |
|
|
$ |
420,000 |
|
|
$ |
13,376,000 |
|
|
$ |
13,796,000 |
|
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$ |
9,339,000 |
|
|
1951 |
|
Jan 1963 |
|
179,000 |
|
|
307 |
|
|
30 years |
Roosevelt Towers |
|
Virginia |
|
336,000 |
|
|
1,996,000 |
|
|
11,148,000 |
|
|
336,000 |
|
|
13,144,000 |
|
|
13,480,000 |
|
|
8,296,000 |
|
|
1964 |
|
May 1965 |
|
170,000 |
|
|
191 |
|
|
40 years |
Country Club Towers |
|
Virginia |
|
299,000 |
|
|
2,562,000 |
|
|
15,144,000 |
|
|
299,000 |
|
|
17,706,000 |
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|
18,005,000 |
|
|
11,055,000 |
|
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1965 |
|
Jul 1969 |
|
159,000 |
|
|
227 |
|
|
35 years |
Park Adams |
|
Virginia |
|
287,000 |
|
|
1,654,000 |
|
|
10,227,000 |
|
|
287,000 |
|
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11,881,000 |
|
|
12,168,000 |
|
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8,361,000 |
|
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1959 |
|
Jan 1969 |
|
173,000 |
|
|
200 |
|
|
35 years |
Munson Hill Towers |
|
Virginia |
|
322,000 |
|
|
3,337,000 |
|
|
15,739,000 |
|
|
322,000 |
|
|
19,076,000 |
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19,398,000 |
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14,111,000 |
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1963 |
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Jan 1970 |
|
258,000 |
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|
279 |
|
|
33 years |
The Ashby at McLean |
|
Virginia |
|
4,356,000 |
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17,102,000 |
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17,300,000 |
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4,356,000 |
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34,402,000 |
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38,758,000 |
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20,788,000 |
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1982 |
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Aug 1996 |
|
274,000 |
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256 |
|
|
30 years |
Walker House Apartments (a) |
|
Maryland |
|
2,851,000 |
|
|
7,946,000 |
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6,906,000 |
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2,851,000 |
|
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14,852,000 |
|
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17,703,000 |
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|
9,651,000 |
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1971 |
|
Mar 1996 |
|
157,000 |
|
|
212 |
|
|
30 years |
Bethesda Hill Apartments (a) |
|
Maryland |
|
3,900,000 |
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13,412,000 |
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12,394,000 |
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3,900,000 |
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25,806,000 |
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29,706,000 |
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15,904,000 |
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1986 |
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Nov 1997 |
|
225,000 |
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|
195 |
|
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30 years |
Bennett Park |
|
Virginia |
|
2,861,000 |
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|
917,000 |
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79,610,000 |
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4,774,000 |
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78,614,000 |
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83,388,000 |
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26,172,000 |
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2007 |
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Feb 2001 |
|
214,000 |
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|
224 |
|
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28 years |
The Clayborne |
|
Virginia |
|
269,000 |
|
|
— |
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30,631,000 |
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|
699,000 |
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30,201,000 |
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30,900,000 |
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11,428,000 |
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2008 |
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Jun 2003 |
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60,000 |
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74 |
|
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26 years |
The Kenmore (a) |
|
Washington, DC |
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28,222,000 |
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33,955,000 |
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10,296,000 |
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28,222,000 |
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44,251,000 |
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72,473,000 |
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8,765,000 |
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1948 |
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Sep 2008 |
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268,000 |
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|
374 |
|
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30 years |
The Maxwell (g) |
|
Virginia |
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12,787,000 |
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|
— |
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36,443,000 |
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12,851,000 |
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36,379,000 |
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49,230,000 |
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|
— |
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2014 |
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Jun 2011 |
|
143,000 |
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|
163 |
|
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30 years |
1225 First Street (g) |
|
Virginia |
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14,046,000 |
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|
— |
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6,761,000 |
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— |
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20,807,000 |
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20,807,000 |
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— |
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N/A |
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Nov 2011 |
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— |
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— |
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N/A |
The Paramount |
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Virginia |
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8,568,000 |
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38,716,000 |
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|
670,000 |
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8,568,000 |
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39,386,000 |
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47,954,000 |
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2,118,000 |
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1984 |
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Oct 2013 |
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141,000 |
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|
135 |
|
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30 years |
Yale West (a) |
|
Washington, DC |
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14,684,000 |
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62,069,000 |
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21,000 |
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14,684,000 |
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62,090,000 |
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76,774,000 |
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|
1,954,000 |
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2011 |
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Feb 2014 |
|
173,000 |
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|
216 |
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30 years |
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$ |
94,208,000 |
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$ |
186,344,000 |
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$ |
263,988,000 |
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$ |
82,569,000 |
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$ |
461,971,000 |
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$ |
544,540,000 |
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$ |
147,942,000 |
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2,594,000 |
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|
3,053 |
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Office Buildings |
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1901 Pennsylvania Avenue |
|
Washington, DC |
|
$ |
892,000 |
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$ |
3,481,000 |
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$ |
16,943,000 |
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|
$ |
892,000 |
|
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$ |
20,424,000 |
|
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$ |
21,316,000 |
|
|
$ |
14,802,000 |
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1960 |
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May 1977 |
|
101,000 |
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28 years |
51 Monroe Street |
|
Maryland |
|
840,000 |
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|
10,869,000 |
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27,904,000 |
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|
840,000 |
|
|
38,773,000 |
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|
39,613,000 |
|
|
27,848,000 |
|
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1975 |
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Aug 1979 |
|
221,000 |
|
|
|
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41 years |
515 King Street |
|
Virginia |
|
4,102,000 |
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3,931,000 |
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|
5,744,000 |
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4,102,000 |
|
|
9,675,000 |
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|
13,777,000 |
|
|
5,164,000 |
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1966 |
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Jul 1992 |
|
75,000 |
|
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50 years |
6110 Executive Boulevard |
|
Maryland |
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4,621,000 |
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11,926,000 |
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16,149,000 |
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4,621,000 |
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|
28,075,000 |
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32,696,000 |
|
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17,929,000 |
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1971 |
|
Jan 1995 |
|
201,000 |
|
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30 years |
1220 19th Street |
|
Washington, DC |
|
7,803,000 |
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|
11,366,000 |
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|
15,464,000 |
|
|
7,802,000 |
|
|
26,831,000 |
|
|
34,633,000 |
|
|
12,520,000 |
|
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1976 |
|
Nov 1995 |
|
103,000 |
|
|
|
|
30 years |
1600 Wilson Boulevard |
|
Virginia |
|
6,661,000 |
|
|
16,742,000 |
|
|
23,146,000 |
|
|
6,661,000 |
|
|
39,888,000 |
|
|
46,549,000 |
|
|
18,299,000 |
|
|
1973 |
|
Oct 1997 |
|
166,000 |
|
|
|
|
30 years |
Silverline Center (f) |
|
Virginia |
|
12,049,000 |
|
|
71,825,000 |
|
|
68,237,000 |
|
|
12,049,000 |
|
|
140,062,000 |
|
|
152,111,000 |
|
|
64,474,000 |
|
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1972 |
|
Nov 1997 |
|
526,000 |
|
|
|
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30 years |
600 Jefferson Plaza |
|
Maryland |
|
2,296,000 |
|
|
12,188,000 |
|
|
6,945,000 |
|
|
2,296,000 |
|
|
19,133,000 |
|
|
21,429,000 |
|
|
9,879,000 |
|
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1985 |
|
May 1999 |
|
113,000 |
|
|
|
|
30 years |
Wayne Plaza |
|
Maryland |
|
1,564,000 |
|
|
6,243,000 |
|
|
9,049,000 |
|
|
1,564,000 |
|
|
15,292,000 |
|
|
16,856,000 |
|
|
7,976,000 |
|
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1970 |
|
May 2000 |
|
99,000 |
|
|
|
|
30 years |
Courthouse Square |
|
Virginia |
|
— |
|
|
17,096,000 |
|
|
7,946,000 |
|
|
— |
|
|
25,042,000 |
|
|
25,042,000 |
|
|
11,976,000 |
|
|
1979 |
|
Oct 2000 |
|
116,000 |
|
|
|
|
30 years |
One Central Plaza |
|
Maryland |
|
5,480,000 |
|
|
39,107,000 |
|
|
17,721,000 |
|
|
5,480,000 |
|
|
56,828,000 |
|
|
62,308,000 |
|
|
28,510,000 |
|
|
1974 |
|
Apr 2001 |
|
267,000 |
|
|
|
|
30 years |
1776 G Street |
|
Washington, DC |
|
31,500,000 |
|
|
54,327,000 |
|
|
5,217,000 |
|
|
31,500,000 |
|
|
59,544,000 |
|
|
91,044,000 |
|
|
25,560,000 |
|
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1979 |
|
Aug 2003 |
|
263,000 |
|
|
|
|
30 years |
Dulles Station, Phase II (f) |
|
Virginia |
|
15,001,000 |
|
|
494,000 |
|
|
(3,400,000 |
) |
|
484,000 |
|
|
11,611,000 |
|
|
12,095,000 |
|
|
403,000 |
|
|
n/a |
|
Dec 2005 |
|
— |
|
|
|
|
n/a |
West Gude (a) |
|
Maryland |
|
11,580,000 |
|
|
43,240,000 |
|
|
11,699,000 |
|
|
11,580,000 |
|
|
54,939,000 |
|
|
66,519,000 |
|
|
17,686,000 |
|
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1984 |
|
Aug 2006 |
|
276,000 |
|
|
|
|
30 years |
Monument II |
|
Virginia |
|
10,244,000 |
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|
65,205,000 |
|
|
7,075,000 |
|
|
10,244,000 |
|
|
72,280,000 |
|
|
82,524,000 |
|
|
19,424,000 |
|
|
2000 |
|
Mar 2007 |
|
208,000 |
|
|
|
|
30 years |
2000 M Street |
|
Washington, DC |
|
— |
|
|
61,101,000 |
|
|
21,215,000 |
|
|
— |
|
|
82,316,000 |
|
|
82,316,000 |
|
|
20,670,000 |
|
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1971 |
|
Dec 2007 |
|
230,000 |
|
|
|
|
30 years |
2445 M Street (a) |
|
Washington, DC |
|
46,887,000 |
|
|
106,743,000 |
|
|
5,127,000 |
|
|
46,887,000 |
|
|
111,870,000 |
|
|
158,757,000 |
|
|
26,905,000 |
|
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1986 |
|
Dec 2008 |
|
290,000 |
|
|
|
|
30 years |
925 Corporate Drive |
|
Virginia |
|
4,518,000 |
|
|
24,801,000 |
|
|
800,000 |
|
|
4,518,000 |
|
|
25,601,000 |
|
|
30,119,000 |
|
|
6,404,000 |
|
|
2007 |
|
Jun 2010 |
|
133,000 |
|
|
|
|
30 years |
1000 Corporate Drive |
|
Virginia |
|
4,897,000 |
|
|
25,376,000 |
|
|
243,000 |
|
|
4,898,000 |
|
|
25,618,000 |
|
|
30,516,000 |
|
|
6,603,000 |
|
|
2009 |
|
Jun 2010 |
|
136,000 |
|
|
|
|
30 years |
1140 Connecticut Avenue |
|
Washington, DC |
|
25,226,000 |
|
|
50,495,000 |
|
|
11,280,000 |
|
|
25,226,000 |
|
|
61,775,000 |
|
|
87,001,000 |
|
|
10,246,000 |
|
|
1966 |
|
Jan 2011 |
|
183,000 |
|
|
|
|
30 years |
1227 25th Street |
|
Washington, DC |
|
17,505,000 |
|
|
21,319,000 |
|
|
2,254,000 |
|
|
17,505,000 |
|
|
23,573,000 |
|
|
41,078,000 |
|
|
4,412,000 |
|
|
1988 |
|
Mar 2011 |
|
135,000 |
|
|
|
|
30 years |
|
|
|
|
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|
|
|
|
|
|
Initial Cost (b) |
|
Net Improvements (Retirement) since Acquisition |
|
|
Gross Amounts at Which Carried at December 31, 2014 |
|
Accumulated Depreciation at December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
Properties |
|
Location |
|
Land |
|
Buildings and Improvements |
|
|
Land |
|
Buildings and Improvements |
|
Total (c) |
|
|
Year of Construction |
|
Date of Acquisition |
|
Net
Rentable
Square
Feet (e) |
|
Units |
|
Depreciation Life (d) |
Braddock Metro Center |
|
Virginia |
|
18,817,000 |
|
|
71,250,000 |
|
|
10,450,000 |
|
|
18,818,000 |
|
|
81,699,000 |
|
|
100,517,000 |
|
|
12,291,000 |
|
|
1985 |
|
Sep 2011 |
|
353,000 |
|
|
|
|
30 years |
John Marshall II (a) |
|
Virginia |
|
13,490,000 |
|
|
53,024,000 |
|
|
176,000 |
|
|
13,490,000 |
|
|
53,200,000 |
|
|
66,690,000 |
|
|
7,297,000 |
|
|
1996 |
|
Sep 2011 |
|
223,000 |
|
|
|
|
30 years |
Fairgate at Ballston |
|
Virginia |
|
17,750,000 |
|
|
29,885,000 |
|
|
3,164,000 |
|
|
17,750,000 |
|
|
33,049,000 |
|
|
50,799,000 |
|
|
4,166,000 |
|
|
1988 |
|
Jun 2012 |
|
142,000 |
|
|
|
|
30 years |
Army Navy Club Bldg (a) |
|
Washington, DC |
|
30,796,000 |
|
|
39,315,000 |
|
|
704,000 |
|
|
30,796,000 |
|
|
40,019,000 |
|
|
70,815,000 |
|
|
1,579,000 |
|
|
1912 |
|
Mar 2014 |
|
108,000 |
|
|
|
|
30 years |
1775 Eye Street, NW |
|
Washington, DC |
|
48,086,000 |
|
|
51,074,000 |
|
|
2,151,000 |
|
|
48,086,000 |
|
|
53,225,000 |
|
|
101,311,000 |
|
|
1,659,000 |
|
|
1964 |
|
May 2014 |
|
185,000 |
|
|
|
|
30 years |
|
|
|
|
$ |
342,605,000 |
|
|
$ |
902,423,000 |
|
|
$ |
293,403,000 |
|
|
$ |
328,089,000 |
|
|
$ |
1,210,342,000 |
|
|
$ |
1,538,431,000 |
|
|
$ |
384,682,000 |
|
|
|
|
|
|
4,853,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
Retail Centers |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Takoma Park |
|
Maryland |
|
$ |
415,000 |
|
|
$ |
1,084,000 |
|
|
$ |
268,000 |
|
|
$ |
415,000 |
|
|
$ |
1,352,000 |
|
|
$ |
1,767,000 |
|
|
$ |
1,188,000 |
|
|
1962 |
|
Jul 1963 |
|
51,000 |
|
|
|
|
50 years |
Westminster |
|
Maryland |
|
519,000 |
|
|
1,775,000 |
|
|
9,710,000 |
|
|
519,000 |
|
|
11,485,000 |
|
|
12,004,000 |
|
|
6,920,000 |
|
|
1969 |
|
Sep 1972 |
|
150,000 |
|
|
|
|
37 years |
Concord Centre |
|
Virginia |
|
413,000 |
|
|
850,000 |
|
|
5,038,000 |
|
|
413,000 |
|
|
5,888,000 |
|
|
6,301,000 |
|
|
3,047,000 |
|
|
1960 |
|
Dec 1973 |
|
76,000 |
|
|
|
|
33 years |
Wheaton Park |
|
Maryland |
|
796,000 |
|
|
857,000 |
|
|
4,576,000 |
|
|
796,000 |
|
|
5,433,000 |
|
|
6,229,000 |
|
|
3,567,000 |
|
|
1967 |
|
Sep 1977 |
|
74,000 |
|
|
|
|
50 years |
Bradlee Shopping Center |
|
Virginia |
|
4,152,000 |
|
|
5,383,000 |
|
|
10,332,000 |
|
|
4,152,000 |
|
|
15,715,000 |
|
|
19,867,000 |
|
|
10,141,000 |
|
|
1955 |
|
Dec 1984 |
|
171,000 |
|
|
|
|
40 years |
Chevy Chase Metro Plaza |
|
Washington, DC |
|
1,549,000 |
|
|
4,304,000 |
|
|
5,381,000 |
|
|
1,549,000 |
|
|
9,685,000 |
|
|
11,234,000 |
|
|
6,341,000 |
|
|
1975 |
|
Sep 1985 |
|
49,000 |
|
|
|
|
50 years |
Montgomery Village Center |
|
Maryland |
|
11,625,000 |
|
|
9,105,000 |
|
|
3,338,000 |
|
|
11,625,000 |
|
|
12,443,000 |
|
|
24,068,000 |
|
|
5,831,000 |
|
|
1969 |
|
Dec 1992 |
|
197,000 |
|
|
|
|
50 years |
Shoppes of Foxchase |
|
Virginia |
|
5,838,000 |
|
|
2,979,000 |
|
|
14,039,000 |
|
|
5,838,000 |
|
|
17,018,000 |
|
|
22,856,000 |
|
|
6,008,000 |
|
|
1960 |
|
Jun 1994 |
|
134,000 |
|
|
|
|
50 years |
Frederick County Square |
|
Maryland |
|
6,561,000 |
|
|
6,830,000 |
|
|
4,421,000 |
|
|
6,561,000 |
|
|
11,251,000 |
|
|
17,812,000 |
|
|
6,864,000 |
|
|
1973 |
|
Aug 1995 |
|
227,000 |
|
|
|
|
30 years |
800 S. Washington Street |
|
Virginia |
|
2,904,000 |
|
|
5,489,000 |
|
|
6,024,000 |
|
|
2,904,000 |
|
|
11,513,000 |
|
|
14,417,000 |
|
|
4,471,000 |
|
|
1951 |
|
Jun 1998 |
|
47,000 |
|
|
|
|
30 years |
Centre at Hagerstown |
|
Maryland |
|
13,029,000 |
|
|
25,415,000 |
|
|
2,383,000 |
|
|
13,029,000 |
|
|
27,798,000 |
|
|
40,827,000 |
|
|
11,851,000 |
|
|
2000 |
|
Jun 2002 |
|
332,000 |
|
|
|
|
30 years |
Frederick Crossing (a) |
|
Maryland |
|
12,759,000 |
|
|
35,477,000 |
|
|
2,235,000 |
|
|
12,759,000 |
|
|
37,712,000 |
|
|
50,471,000 |
|
|
13,076,000 |
|
|
1999 |
|
Mar 2005 |
|
295,000 |
|
|
|
|
30 years |
Randolph Shopping Center |
|
Maryland |
|
4,928,000 |
|
|
13,025,000 |
|
|
752,000 |
|
|
4,928,000 |
|
|
13,777,000 |
|
|
18,705,000 |
|
|
4,315,000 |
|
|
1972 |
|
May 2006 |
|
82,000 |
|
|
|
|
30 years |
Montrose Shopping Center |
|
Maryland |
|
11,612,000 |
|
|
22,410,000 |
|
|
2,500,000 |
|
|
11,612,000 |
|
|
24,910,000 |
|
|
36,522,000 |
|
|
7,714,000 |
|
|
1970 |
|
May 2006 |
|
145,000 |
|
|
|
|
30 years |
Gateway Overlook |
|
Maryland |
|
28,816,000 |
|
|
52,249,000 |
|
|
235,000 |
|
|
29,110,000 |
|
|
52,190,000 |
|
|
81,300,000 |
|
|
10,989,000 |
|
|
2007 |
|
Dec 2010 |
|
220,000 |
|
|
|
|
30 years |
Olney Village Center (a) |
|
Maryland |
|
15,842,000 |
|
|
39,133,000 |
|
|
1,729,000 |
|
|
15,842,000 |
|
|
40,862,000 |
|
|
56,704,000 |
|
|
5,214,000 |
|
|
1979 |
|
Aug 2011 |
|
199,000 |
|
|
|
|
30 years |
Spring Valley Retail Center |
|
Washington, DC |
|
10,836,000 |
|
|
32,238,000 |
|
|
59,000 |
|
|
10,836,000 |
|
|
32,297,000 |
|
|
43,133,000 |
|
|
273,000 |
|
|
1941 |
|
Oct 2014 |
|
75,000 |
|
|
|
|
30 years |
|
|
|
|
$ |
132,594,000 |
|
|
$ |
258,603,000 |
|
|
$ |
73,020,000 |
|
|
$ |
132,888,000 |
|
|
$ |
331,329,000 |
|
|
$ |
464,217,000 |
|
|
$ |
107,810,000 |
|
|
|
|
|
|
2,524,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
$ |
569,407,000 |
|
|
1,347,370,000 |
|
|
$ |
630,411,000 |
|
|
$ |
543,546,000 |
|
|
$ |
2,003,642,000 |
|
|
$ |
2,547,188,000 |
|
|
$ |
640,434,000 |
|
|
|
|
|
|
9,971,000 |
|
|
3,053 |
|
|
|
a) At December 31, 2014, our properties were encumbered by non-recourse mortgage amounts as follows: $35.4 million on 3801 Connecticut Avenue, $16.5 million on Walker House, $29.1 million on Bethesda Hill, $34.3 million on The Kenmore, $99.4 million on 2445 M Street, $51.8 million on John Marshall II, and $19.1 million on Olney Village Center, $53.0 million on Yale West, and $52.2 million on The Amy Navy Club Building.
b) The purchase cost of real estate investments has been divided between land and buildings and improvements on the basis of management’s determination of the fair values.
c) At December 31, 2014, total land, buildings and improvements are carried at $2,113.2 million for federal income tax purposes.
d) The useful life shown is for the main structure. Buildings and improvements are depreciated over various useful lives ranging from 3 to 50 years.
e) Residential properties are presented in gross square feet.
f) As of December 31, 2014, Washington REIT had under development an office project with 360,000 square feet of office space and a parking garage to be developed in Herndon, VA (Dulles Station, Phase II). The value not yet placed in service of Dulles Station, Phase II at December 31, 2014 was $8.5 million. $3.6 million of Dulles Station, Phase II was placed into service upon the completion of a portion of the parking garage structure. Additionally, Washington REIT had investments in various development or redevelopment projects, including Silverline Center. The value of this redevelopment not yet placed in service is $26.1 million at December 31, 2014.
g) As of December 31, 2014, Washington REIT had under development via joint venture arrangements, a mid-rise multifamily property in Arlington, Virginia (The Maxwell) and a high-rise multifamily property in Alexandria, Virginia (1225 First Street). The value not yet placed into service for The Maxwell at December 31, 2014 was $17.9 million. The value not yet placed into service for 1225 First Street at December 31, 2014 was $20.8 million. The Maxwell was encumbered by a construction loan with a $27.7 million balance at December 31, 2014.
The following is a reconciliation of real estate assets and accumulated depreciation for the three years ended December 31, 2014 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2014 |
|
2013 |
|
2012 |
Real estate assets |
|
|
|
|
|
Balance, beginning of period |
$ |
2,289,509 |
|
|
$ |
2,529,131 |
|
|
$ |
2,449,872 |
|
Additions: |
|
|
|
|
|
Property acquisitions (1)
|
289,140 |
|
|
47,444 |
|
|
47,772 |
|
Improvements (1)
|
98,250 |
|
|
71,127 |
|
|
59,664 |
|
Deductions: |
|
|
|
|
|
Impairment write-down |
— |
|
|
— |
|
|
(2,097 |
) |
Write-off of disposed assets |
(2,857 |
) |
|
(2,017 |
) |
|
(1,450 |
) |
Property sales |
(126,854 |
) |
|
(356,176 |
) |
|
(24,630 |
) |
Balance, end of period |
$ |
2,547,188 |
|
|
$ |
2,289,509 |
|
|
$ |
2,529,131 |
|
Accumulated depreciation |
|
|
|
|
|
Balance, beginning of period |
$ |
611,408 |
|
|
$ |
610,536 |
|
|
$ |
535,732 |
|
Additions: |
|
|
|
|
|
Depreciation |
77,741 |
|
|
80,510 |
|
|
84,949 |
|
Deductions: |
|
|
|
|
|
Impairment write-down |
— |
|
|
— |
|
|
— |
|
Write-off of disposed assets |
(2,549 |
) |
|
(1,404 |
) |
|
(1,124 |
) |
Property sales |
(46,166 |
) |
|
(78,234 |
) |
|
(9,021 |
) |
Balance, end of period |
$ |
640,434 |
|
|
$ |
611,408 |
|
|
$ |
610,536 |
|
(1) Includes non-cash accruals for capital items and assumed mortgages.
|