Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 19, 2019 | Jun. 29, 2018 | |
Document And Entity Information [Abstract] | |||
Document Period End Date | Dec. 31, 2018 | ||
Entity Registrant Name | Industrial Logistics Properties Trust | ||
Entity Central Index Key | 1,717,307 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Type | 10-K | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 65,074,791 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 447 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Real estate properties: | ||
Land | $ 670,501 | $ 642,706 |
Buildings and improvements | 791,895 | 700,896 |
Real estate properties, gross | 1,462,396 | 1,343,602 |
Accumulated depreciation | (93,291) | (74,614) |
Real estate properties, net | 1,369,105 | 1,268,988 |
Acquired real estate leases, net | 75,803 | 79,103 |
Cash and cash equivalents | 9,608 | 0 |
Rents receivable, including straight line rents of $54,916 and $50,177, respectively, net of allowance for doubtful accounts of $1,457 and $1,241, respectively | 56,940 | 51,672 |
Deferred leasing costs, net | 6,157 | 5,254 |
Debt issuance costs, net | 4,430 | 1,724 |
Due from related parties | 1,390 | 0 |
Other assets, net | 11,178 | 4,942 |
Total assets | 1,534,611 | 1,411,683 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Revolving credit facility | 413,000 | 750,000 |
Mortgage note payable, net | 49,195 | 49,427 |
Assumed real estate lease obligations, net | 18,316 | 20,384 |
Accounts payable and other liabilities | 12,040 | 11,082 |
Rents collected in advance | 6,004 | 5,794 |
Security deposits | 6,130 | 5,674 |
Due to related persons | 1,653 | 7,114 |
Total liabilities | 506,338 | 849,475 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Common shares of beneficial interest, $.01 par value: 100,000,000 shares authorized; 65,074,791 and 45,000,000 shares issued and outstanding, respectively | 651 | 450 |
Additional paid in capital | 998,447 | 546,489 |
Cumulative net income | 89,657 | 15,269 |
Cumulative common distributions | (60,482) | 0 |
Ownership interest | 1,028,273 | 562,208 |
Total liabilities and shareholders' equity | $ 1,534,611 | $ 1,411,683 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Straight line rents (in dollars) | $ 54,916 | $ 50,177 |
Allowance for doubtful accounts (in dollars) | $ 1,457 | $ 1,241 |
Common shares, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common shares, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common shares, shares issued (in shares) | 65,074,791 | 45,000,000 |
Common shares, shares outstanding (in shares) | 65,074,791 | 45,000,000 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
REVENUES: | |||
Rental income | $ 139,311 | $ 134,826 | $ 132,518 |
Tenant reimbursements and other income | 23,219 | 21,680 | 20,792 |
Total revenues | 162,530 | 156,506 | 153,310 |
EXPENSES: | |||
Real estate taxes | 19,342 | 17,868 | 17,204 |
Other operating expenses | 13,005 | 10,913 | 10,593 |
Depreciation and amortization | 28,575 | 27,315 | 27,074 |
Acquisition and transaction related costs | 0 | 1,025 | 35 |
General and administrative | 11,307 | 16,799 | 9,200 |
Total expenses | 72,229 | 73,920 | 64,106 |
Interest income | 200 | 0 | 0 |
Interest expense (including net amortization of debt issuance costs and premiums of $1,244, ($494) and ($292), respectively) | (16,081) | (2,439) | (2,262) |
Income before income tax expense | 74,420 | 80,147 | 86,942 |
Income tax expense | (32) | (44) | (44) |
Net income | $ 74,388 | $ 80,103 | $ 86,898 |
Weighted average common shares outstanding - basic (in shares) | 64,139 | 45,000 | 45,000 |
Weighted average common shares outstanding - diluted (in shares) | 64,140 | 45,000 | 45,000 |
Net income per common share - basic and diluted (in dollars per share) | $ 1.16 | $ 1.78 | $ 1.93 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Statement [Abstract] | |||
Net amortization of debt issuance costs and premiums | $ 1,244 | $ (494) | $ (292) |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common shares | Additional Paid In Capital | Cumulative Net Income | Cumulative Common Distributions | Ownership Interest |
Balance (in shares) at Dec. 31, 2015 | 0 | |||||
Balance at beginning of period at Dec. 31, 2015 | $ 1,334,170 | $ 0 | $ 0 | $ 0 | $ 0 | $ 1,334,170 |
Increase (Decrease) in Stockholders' Equity | ||||||
Net income | 86,898 | 86,898 | ||||
Contributions | 46,210 | 46,210 | ||||
Distributions | (154,093) | (154,093) | ||||
Noncash Distribution To Parent | 0 | |||||
Balance (in shares) at Dec. 31, 2016 | 0 | |||||
Balance at end of period at Dec. 31, 2016 | 1,313,185 | $ 0 | 0 | 0 | 0 | 1,313,185 |
Increase (Decrease) in Stockholders' Equity | ||||||
Net income | 80,103 | 15,269 | 64,834 | |||
Contributions | 72,807 | 30,244 | 42,563 | |||
Distributions | (153,887) | (37,348) | (116,539) | |||
Issuance of common shares and reclassification of ownership interest (in shares) | 45,000,000 | |||||
Issuance of common shares and reclassification of ownership interest | (750,000) | $ 450 | 553,593 | |||
Noncash Distribution To Parent | (1,304,043) | (1,304,043) | ||||
Distributions to common shareholders | (60,482) | |||||
Balance (in shares) at Dec. 31, 2017 | 45,000,000 | |||||
Balance at end of period at Dec. 31, 2017 | 562,208 | $ 450 | 546,489 | 15,269 | 0 | 0 |
Increase (Decrease) in Stockholders' Equity | ||||||
Net income | 74,388 | 74,388 | ||||
Contributions | 16,162 | 16,162 | ||||
Distributions | (9,187) | (9,187) | ||||
Issuance of common shares and reclassification of ownership interest (in shares) | 20,000,000 | |||||
Issuance of common shares and reclassification of ownership interest | 444,309 | $ 200 | 444,109 | |||
Noncash Distribution To Parent | 0 | |||||
Share grants (in shares) | 77,400 | |||||
Share grants | $ 927 | $ 1 | 926 | |||
Share grant forfeitures (in shares) | (240) | |||||
Share grant forfeitures | $ 0 | |||||
Share repurchases (in shares) | (2,369) | |||||
Share repurchases | $ (52) | (52) | ||||
Distributions to common shareholders | (60,482) | (60,482) | ||||
Balance (in shares) at Dec. 31, 2018 | 65,074,791 | |||||
Balance at end of period at Dec. 31, 2018 | $ 1,028,273 | $ 651 | $ 998,447 | $ 89,657 | $ (60,482) | $ 0 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $ 74,388 | $ 80,103 | $ 86,898 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 18,781 | 17,738 | 17,563 |
Net amortization of debt issuance costs and premiums | 1,244 | (494) | (292) |
Amortization of acquired real estate leases and assumed real estate lease obligations | 8,592 | 8,434 | 8,419 |
Amortization of deferred leasing costs | 820 | 771 | 706 |
Provision for losses on rents receivable | 1,198 | 704 | 257 |
Straight line rental income | (4,739) | (5,762) | (6,202) |
Other non-cash expenses | 927 | 0 | 0 |
Change in assets and liabilities: | |||
Rents receivable | (1,727) | 436 | 301 |
Deferred leasing costs | (1,745) | (693) | (910) |
Other assets | 3,591 | (4,431) | 56 |
Due from related persons | (1,390) | 0 | 0 |
Accounts payable and other liabilities | 1,618 | 245 | 295 |
Rents collected in advance | 210 | (743) | 2,122 |
Security deposits | 456 | 33 | 42 |
Due to related persons | (5,461) | 7,114 | 0 |
Net cash provided by operating activities | 96,763 | 103,455 | 109,255 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Real estate acquisitions | (121,891) | (281) | 0 |
Real estate improvements | (5,004) | (6,026) | (1,356) |
Investment in Affiliates Insurance Company | (8,632) | 0 | 0 |
Net cash used in investing activities | (135,527) | (6,307) | (1,356) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from issuance of common shares, net | 444,309 | 0 | 0 |
Borrowings under revolving credit facility | 193,000 | 750,000 | 0 |
Repayments of revolving credit facility | (530,000) | 0 | 0 |
Repayment of mortgage notes payable | 0 | (14,344) | (16) |
Repayment of SIR note | 0 | (750,000) | 0 |
Payment of debt issuance costs | (5,378) | (1,724) | 0 |
Distributions to common shareholders | (60,482) | 0 | 0 |
Repurchase of common shares | (52) | 0 | 0 |
Contributions | 16,162 | 72,807 | 46,210 |
Distributions | (9,187) | (153,887) | (154,093) |
Net cash provided by (used in) financing activities | 48,372 | (97,148) | (107,899) |
Increase in cash and cash equivalents | 9,608 | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 | 0 |
Cash and cash equivalents at end of period | 9,608 | 0 | 0 |
SUPPLEMENTAL DISCLOSURES: | |||
Interest paid | 14,749 | 2,752 | 2,554 |
NON-CASH FINANCING ACTIVITIES: | |||
Distribution to SIR of ownership interest | 0 | (1,304,043) | 0 |
Issuance of SIR note | 0 | 750,000 | 0 |
Issuance of common shares | $ 0 | $ 554,043 | $ 0 |
Organization
Organization | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | Organization Industrial Logistics Properties Trust, or, collectively with its consolidated subsidiaries, we, us or our, is a real estate investment trust, or REIT, formed under Maryland law on September 15, 2017, as a wholly owned subsidiary of Select Income REIT, or SIR, a former publicly traded REIT that merged with a wholly owned subsidiary of Office Properties Income Trust (formerly Government Properties Income Trust), or OPI, on December 31, 2018. Until January 17, 2018, we were a wholly owned subsidiary of SIR and SIR managed and controlled our cash management function through a series of commingled centralized accounts. As a result, the cash receipts collected by SIR on our behalf have been accounted for as distributions and the cash disbursements paid by SIR on our behalf have been accounted for as contributions within ownership interest through September 29, 2017. Subsequent to September 29, 2017, contributions and distributions have been accounted for as an increase or decrease, respectively, in additional paid in capital. On January 17, 2018, we completed an initial public offering and listing on The Nasdaq Stock Market LLC, or Nasdaq, of 20,000,000 of our common shares, or our IPO. At that time, we owned 266 properties with a total of approximately 28,540,000 rentable square feet, or our Initial Properties (all square footage amounts included within these notes are unaudited). Our Initial Properties were contributed to us on September 29, 2017, by SIR. Two hundred twenty six ( 226 ) of these properties with a total of approximately 16,834,000 rentable square feet are located on the island of Oahu, Hawaii. The remaining 40 properties have a total of approximately 11,706,000 rentable square feet and are located in 24 other states. In connection with our formation and this contribution of properties, we (1) issued to SIR 45,000,000 of our common shares of beneficial interest, $.01 par value per share, or our common shares, (2) issued to SIR a $750,000 non-interest bearing demand note, or the SIR Note, and (3) assumed three mortgage notes totaling $63,069 , excluding premiums, that were secured by three of our Initial Properties. On December 27, 2018, SIR distributed all 45,000,000 of our common shares that SIR owned to SIR's shareholders of record as of the close of business on December 20, 2018. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation. These consolidated financial statements include the accounts of us and our subsidiaries, all of which are 100% owned directly or indirectly by us. All intercompany transactions and balances with or among our consolidated subsidiaries have been eliminated. The accounts of our Initial Properties are presented at SIR’s historical basis and are consolidated for prior periods presented as the transaction described in Note 1 has been accounted for as a reorganization of entities under common control in accordance with Financial Accounting Standards Board, or FASB, Accounting Standards Codification 805-50-30, Business Combinations . Substantially all of the rental income received from our tenants and SIR’s other tenants was deposited in and commingled with SIR’s general funds during the periods prior to January 17, 2018. Prior to January 17, 2018, general and administrative costs of SIR were primarily allocated to us based on the historical cost of our real estate investments as a percentage of SIR’s historical cost of all of its real estate investments. In accordance with applicable accounting guidance, we believe this method for allocating general and administrative expenses is reasonable. However, actual expenses may have been different from allocated expenses if we operated as a standalone company and those differences may be material. Real Estate Properties. We record properties at our cost and have presented our Initial Properties at their historical cost basis. Our real estate investments in lands are not depreciated. We calculate depreciation on other real estate investments on a straight line basis over estimated useful lives generally ranging from seven to 40 years. We allocate the purchase prices of our properties to land, building and improvements based on determinations of the fair values of these assets assuming the properties are vacant. We determine the fair value of each property using methods similar to those used by independent appraisers. In some circumstances, we engage independent real estate appraisal firms to provide market information and evaluations which are relevant to our purchase price allocations and determinations of depreciable useful lives; however, we are ultimately responsible for the purchase price allocations and determinations of useful lives. We allocate a portion of the purchase price to above market and below market leases based on the present value (using an interest rate which reflects the risks associated with acquired in place leases at the time each property was acquired by us) of the difference, if any, between (i) the contractual amounts to be paid pursuant to the acquired in place leases and (ii) our estimates of fair market lease rates for the corresponding leases, measured over a period equal to the terms of the respective leases. The terms of below market leases that include bargain renewal options, if any, are further adjusted if we determine that renewal to be probable. We allocate a portion of the purchase price to acquired in place leases and tenant relationships based upon market estimates to lease up the property based on the leases in place at the time of purchase. In making these allocations, we consider factors such as estimated carrying costs during the expected lease up periods, including real estate taxes, insurance and other operating income and expenses and costs, such as leasing commissions, legal and other related expenses, to execute similar leases in current market conditions at the time a property was acquired by us. We allocate this aggregate value between acquired in place lease values and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease. However, we have not separated the value of tenant relationships from the value of acquired in place leases because such value and related amortization expense is immaterial to the accompanying consolidated financial statements. If the value of tenant relationships becomes material in the future, we may separately allocate those amounts and amortize the allocated amount over the estimated life of the relationships. We amortize capitalized above market lease values (included in acquired real estate leases in our consolidated balance sheets) and below market lease values (presented as assumed real estate lease obligations in our consolidated balance sheets) as a reduction or increase, respectively, to rental income over the terms of the associated leases. Such amortization resulted in increases in rental income of $ 401 , $ 390 and $403 during the years ended December 31, 2018 , 2017 and 2016 , respectively. We amortize the value of acquired in place leases (included in acquired real estate leases in our consolidated balance sheets), exclusive of the value of above market and below market acquired in place leases, or lease origination value, over the terms of the associated leases. Such amortization, which is included in depreciation and amortization expense, totaled $ 8,993 , $ 8,824 and $ 8,823 during the years ended December 31, 2018 , 2017 and 2016 , respectively. If a lease is terminated prior to its stated expiration, we write off the unamortized amounts relating to that lease. As of December 31, 2018 and 2017 , our acquired real estate leases and assumed real estate lease obligations were as follows: December 31, 2018 2017 Acquired real estate leases: Capitalized above market lease values $ 28,723 $ 30,104 Less: accumulated amortization (16,726 ) (16,440 ) Capitalized above market lease values, net 11,997 13,664 Lease origination value 99,727 93,646 Less: accumulated amortization (35,921 ) (28,207 ) Lease origination value, net 63,806 65,439 Acquired real estate leases, net $ 75,803 $ 79,103 Assumed real estate lease obligations: Capitalized below market lease values $ 34,313 $ 34,786 Less: accumulated amortization (15,997 ) (14,402 ) Assumed real estate lease obligations, net $ 18,316 $ 20,384 As of December 31, 2018 , the weighted average amortization periods for capitalized above market lease values, lease origination value and capitalized below market lease values were 11.7 years, 8.8 years, and 14.1 years, respectively. Future amortization of net intangible acquired real estate lease assets and liabilities to be recognized over the current terms of the associated leases as of December 31, 2018 are estimated to be $ 7,805 in 2019, $ 7,797 in 2020, $ 7,725 in 2021, $ 7,538 in 2022, $ 7,279 in 2023 and $ 19,343 thereafter. We recognize impairment losses on real estate investments when indicators of impairment are present and the estimated undiscounted cash flow from our real estate investments is less than the carrying amount of such real estate investments. Impairment indicators may include declining tenant occupancy, lack of progress releasing vacant space, tenant bankruptcies, low long term prospects for improvement in property performance, weak or declining tenant profitability, cash flow or liquidity, our decision to dispose of an asset before the end of its estimated useful life and legislative, market or industry changes that could permanently reduce the value of a property. We review our properties for impairment quarterly, or whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. If indicators of impairment are present, we evaluate the carrying value of the related property by comparing it to the expected future undiscounted cash flows expected to be generated from that property. If the sum of these expected future undiscounted cash flows is less than the carrying value, we reduce the net carrying value of the property to its estimated fair value. The determination of undiscounted cash flow includes consideration of many factors including income to be earned from the investment, holding costs (exclusive of interest), estimated selling prices, and prevailing economic and market conditions. No impairments exist on any of our properties as of December 31, 2018 and 2017 . We believe some of our properties may contain asbestos. We believe any asbestos on our properties is contained in accordance with applicable laws and regulations and we have no current plans to remove it. If we removed the asbestos or renovated or demolished the affected properties, certain environmental regulations govern the manner in which the asbestos must be handled and removed, and we could incur substantial costs complying with such regulations. Due to the uncertainty of the timing and amount of costs we may incur, we cannot reasonably estimate such costs and we have not recognized a liability in our consolidated financial statements for these costs. Certain of our industrial lands in Hawaii may require environmental remediation, especially if the use of those lands is changed; however, we do not have any present plans to change the use of those lands or to undertake this environmental cleanup. As of December 31, 2018 and 2017 , accrued environmental remediation costs of $ 6,940 and $ 7,002 , respectively, were included in accounts payable and other liabilities in our consolidated balance sheets. These accrued environmental remediation costs relate to maintenance of our properties for current uses, and, because of the indeterminable timing of the remediation, these amounts have not been discounted to present value. In general, we do not have any insurance designated to limit any losses that we may incur as a result of known or unknown environmental conditions which are not caused by an insured event, such as, for example, fire or flood, although some of our tenants may maintain such insurance that may benefit us. Although we do not believe that there are environmental conditions at any of our properties that will have a material adverse effect on us, we cannot be sure that such conditions are not present at our properties or that costs we incur to remediate contamination will not have a material adverse effect on our business or financial condition. Charges for environmental remediation costs, if any, are included in other operating expenses in our consolidated statements of comprehensive income. Capitalization Policy. Costs directly related to the development of properties are capitalized. We capitalize development costs, including interest, real estate taxes, insurance, and other project costs, incurred during the period of development. Determinations of when a development project commences and capitalization begins, and when a development project is substantially complete and held available for occupancy and capitalization must cease, involve judgments. We begin the capitalization of costs during the pre-construction period, which we consider to begin when activities that are necessary to the development of the property commence. We consider a development project as substantially completed and held available for occupancy upon the completion of tenant improvements, but no later than one year from cessation of major construction activity. Cash and Cash Equivalents. We consider highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents. Deferred Leasing Costs. Deferred leasing costs include capitalized brokerage, legal and other fees associated with the successful negotiation of leases, which are amortized to depreciation and amortization expense on a straight line basis over the terms of the respective leases. Deferred leasing costs totaled $ 9,845 and $ 8,379 at December 31, 2018 and 2017 , respectively, and accumulated amortization of deferred leasing costs totaled $ 3,688 and $ 3,125 at December 31, 2018 and 2017 , respectively. Included in deferred leasing costs at December 31, 2018, was $ 24 of estimated costs associated with leases under negotiation. Future amortization of deferred leasing costs to be recognized during the current terms of our existing leases as of December 31, 2018 , are estimated to be $ 836 in 2019 , $ 757 in 2020 , $ 673 in 2021 , $ 552 in 2022 , $ 386 in 2023 and $ 2,953 thereafter. Debt Issuance Costs. Debt issuance costs include capitalized issuance costs related to borrowings, which are amortized to interest expense over the terms of the respective loans. As of December 31, 2018 and 2017, we had debt issuance costs for our revolving credit facility totaling $5,907 and $1,724 , respectively, and accumulated amortization of debt issuance costs totaling $1,477 at December 31, 2018. There were no accumulated amortization of debt issuance costs at December 31, 2017. As of December 31, 2018 , we had debt issuance costs of $1,413 for our $650,000 mortgage loan obtained in January 2019. Future amortization of debt issuance costs to be recognized with respect to our revolving credit facility and our $650,000 mortgage loan as of December 31, 2018 is estimated to be $1,618 in 2019 , $1,618 in 2020 , $1,618 in 2021 , $ 142 in 2022 , $ 142 in 2023 and $ 705 thereafter. Other Assets. Other assets consist of our investment in Affiliates Insurance Company, or AIC, prepaid insurance and prepaid real estate taxes. As of December 31, 2017, other assets also included costs related to our formation and preparation for our IPO. We acquired shares of common stock of AIC from SIR on December 31, 2018 for $8,632 . We own a 14.3% ownership interest in AIC. We account for our investment in AIC using the equity method of accounting. Significant influence is present through common representation on the boards of trustees or directors of us and AIC. One of our Managing Trustees, Adam D. Portnoy, as the sole trustee of ABP Trust, is the controlling shareholder of The RMR Group Inc., or RMR Inc. RMR Inc. is the managing member of our manager, The RMR Group LLC, or RMR LLC. Mr. Portnoy is also a managing director and president and chief executive officer of RMR Inc. and an officer and employee of RMR LLC. John G. Murray, our other Managing Trustee and our President and Chief Executive Officer, is also an officer and employee of RMR LLC. RMR LLC also provides management and administrative services to AIC, and most of our Trustees are directors of AIC. See Note 7 for further information regarding our investments in RMR Inc. and AIC. Revenue Recognition. Rental income from operating leases is recognized on a straight line basis over the lives of lease agreements. We defer the recognition of contingent rental income, such as percentage rents, until the specific targets that trigger the contingent rental income are achieved. Contingent rental income recognized for the years ended December 31, 2018 , 2017 and 2016 totaled $ 941 , $ 650 and $ 846 , respectively. Tenant reimbursements and other income include property level operating expenses and capital expenditures reimbursed by our tenants as well as other incidental revenues. Certain tenants are obligated to pay directly their obligations under their leases for insurance, real estate taxes and certain other expenses. These costs, which have been assumed by the tenants under the terms of their respective leases, are not reflected in our consolidated financial statements. To the extent any tenant responsible for these costs under their respective lease defaults on its lease or if it is deemed probable that the tenant will fail to pay for such costs, we would record a liability for such obligation. Allowance for Doubtful Accounts. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability or unwillingness of certain tenants to make payments required under their leases. The computation of the allowance is based on the tenants’ payment histories and current credit profiles, as well as other considerations. Income Taxes. Until January 17, 2018, we were a wholly owned subsidiary of SIR, which was taxed as a REIT under the Internal Revenue Code of 1986, as amended, or the IRC. Accordingly, until January 17, 2018, we were a qualified REIT subsidiary and a disregarded entity for tax purposes. We intend to qualify for taxation as a REIT under the IRC for U.S. federal income tax purposes commencing with our taxable year ended December 31, 2018 and to maintain such qualification thereafter. Accordingly, we generally are not, and will not be, subject to U.S. federal income taxes provided we distribute our taxable income and meet certain other requirements to qualify for taxation as a REIT. We may, however, be subject to certain state and local taxes. Use of Estimates. Preparation of these financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires us to make estimates and assumptions that may affect the amounts reported in these consolidated financial statements and related notes. The actual results could differ from these estimates. Significant estimates in the consolidated financial statements include the allowance for doubtful accounts, purchase price allocations, useful lives of fixed assets and the assessments of the carrying values and impairments of long lived assets. Ownership Interest. For the periods prior to January 17, 2018, our investment activities were financed by SIR. Amounts invested in or advanced to us did not carry interest and had no specific repayment terms. Net Income Per Common Share. We calculate basic earnings per common share by dividing net income by the weighted average number of common shares outstanding during the period. We calculate diluted net income per share using the more dilutive of the two class method or the treasury stock method. Segment Reporting. We operate in one business segment: ownership and leasing of properties that include industrial and logistics buildings and leased industrial lands. Reclassifications. Reclassifications have been made to the prior years' consolidated financial statements to conform to the current year's presentation. For the year ended December 31, 2017, we reclassified $1,724 from other assets to deferred issuance costs, net, in our consolidated balance sheets. New Accounting Pronouncements. On January 1, 2018, we adopted FASB Accounting Standards Update, or ASU, No. 2014-09 (and related clarifying guidance issued by the FASB), Revenue From Contracts With Customers , which outlines a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. ASU No. 2014-09 states that “an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” A substantial portion of our revenue consists of rental income from leasing arrangements, which is specifically excluded from ASU No. 2014-09. We have adopted ASU No. 2014-09 using the modified retrospective approach. The adoption of ASU No. 2014-09 did not have a material impact on the amount or timing of our revenue recognition in our consolidated financial statements. On October 1, 2018, we adopted FASB ASU No. 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting , which aligns the measurement and classification guidance for share based payments to nonemployees with the guidance for share based payments to employees, with certain exceptions. The adoption of this standard did not have a material impact in our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases . In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases and ASU No. 2018-11, Leases (Topic 842): Targeted Improvements . In December 2018, the FASB issued ASU No. 2018-20 Leases (Topic 842), Narrow-Scope Improvements for Lessors . Collectively, these standards set out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). ASU No. 2016-02 requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales type leases, direct financing leases and operating leases. These standards are effective as of January 1, 2019. Upon adoption, we applied the package of practical expedients that allows an entity to not reassess (i) whether any expired or existing contracts are or contain leases, (ii) lease classification for any expired or existing leases and (iii) initial direct costs for any expired or existing leases. Furthermore, we applied the optional transition method in ASU No. 2018-11, which allows entities to initially apply the new leases standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption, if any. Additionally, our leases met the criteria in ASU No. 2018-11 to not separate non-lease components from the related lease component; therefore, the accounting for these leases remained largely unchanged from the previous standard. The adoption of ASU No. 2016-02 and the related improvements did not have a material impact in our consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires that entities use a new forward looking “expected loss” model that generally will result in the earlier recognition of allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU No. 2016-13 will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently assessing the potential impact the adoption of ASU No. 2016-13 will have in our consolidated financial statements. We currently expect to adopt the standard using the modified retrospective approach. |
Real Estate Properties
Real Estate Properties | 12 Months Ended |
Dec. 31, 2018 | |
Real Estate [Abstract] | |
Real Estate Properties | Real Estate Properties As of December 31, 2018 , we owned 270 properties with a total of approximately 29,535,000 rentable square feet, including 226 buildings, leasable land parcels and easements with a total of approximately 16,834,000 rentable square feet of primarily industrial lands located on the island of Oahu, HI, or our Hawaii Properties, and 44 buildings with a total of approximately 12,701,000 rentable square feet of industrial properties in 25 other states, or our Mainland Properties. We operate in one business segment: ownership and leasing of properties that include industrial and logistics buildings and leased industrial lands. For the years ended December 31, 2018 , 2017 and 2016 , approximately 59.7% , 60.2% and 59.5% , respectively, of our total revenues were from our Hawaii Properties. In addition, two subsidiaries of Amazon.com, Inc., which are tenants at certain of our Mainland Properties, accounted for $16,047 , $ 15,938 and $16,063 of our total revenues for the years ended December 31, 2018 , 2017 and 2016 , respectively. 2018 Acquisitions: During the year ended December 31, 2018 , we acquired 985,235 rentable square feet for an aggregate purchase price of $121,385 , including acquisition related costs of $1,360 . These acquisitions were accounted for as acquisitions of assets. We allocated the purchase prices of these acquisitions based on the estimated fair values of the acquired assets as follows: Number Rentable Acquired of Square Purchase Buildings and Real Estate Date Location Properties Feet Price Land Improvements Leases June 2018 Doral, FL (1) 1 240,283 $ 43,326 $ 15,225 $ 28,101 $ — September 2018 Carlisle, PA 1 205,090 20,451 3,299 15,515 1,637 September 2018 Upper Marlboro, MD 1 220,800 29,801 5,296 21,833 2,672 October 2018 Maple Grove, MN 1 319,062 27,807 3,469 21,287 3,051 4 985,235 $ 121,385 $ 27,289 $ 86,736 $ 7,360 (1) This property was acquired and simultaneously leased back to the seller. In October 2018, we acquired a land parcel adjacent to a property we own located in Ankeny, IA for a purchase price of $450 , excluding acquisition related costs. This land parcel will be used for a 194,000 square foot expansion for the existing tenant at such property. In February 2019, we entered an agreement to acquire a portfolio of eight industrial properties located in the Indianapolis and Cincinnati market areas, that are leased to 10 tenants with an aggregate of approximately 4,202,000 rentable square feet for a purchase price of $280,000 , excluding acquisition related costs. We completed the acquisition of seven of the eight properties on February 14, 2019. The acquisition of the remaining property is expected to occur by April 15, 2019. Also in February 2019, we entered an agreement to acquire a portfolio of 18 industrial properties located in 12 states that are leased to 13 tenants with an aggregate of approximately 8,694,000 rentable square feet for a purchase price of $625,300 , excluding acquisition related costs and including the assumption of $57,000 of mortgage debt. The acquisition of these properties is expected to occur by April 15, 2019. During the year ended December 31, 2018 , we committed $2,613 for expenditures related to tenant improvements and leasing costs for approximately 2,630,000 square feet of leases executed during the period. Committed but unspent tenant related obligations based on existing leases as of December 31, 2018 were $472 . 2017 Acquisitions: On January 13, 2017, we acquired a land parcel adjacent to one of our properties located in McAlester, OK for $281 , including $ 55 of acquisition related costs. As of December 31, 2018, we completed the development of a 35,000 square foot expansion for the tenant which is located on this adjacent parcel. Future Minimum Lease Payments: The future minimum lease payments scheduled to be received by us during the current terms of our leases as of December 31, 2018 are as follows: Minimum Lease Year Payment 2019 $ 140,363 2020 139,440 2021 137,814 2022 132,124 2023 113,443 Thereafter 994,544 $ 1,657,728 |
Indebtedness
Indebtedness | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Indebtedness | Indebtedness As of December 31, 2018 and 2017 , our outstanding indebtedness consisted of the following: December 31, 2018 2017 Revolving credit facility, due in 2021 (1) $ 413,000 $ 750,000 Mortgage note payable, 3.99%, due in 2020 (2) 48,750 48,750 Unamortized debt premiums 445 677 Carrying value $ 462,195 $ 799,427 (1) We repaid certain amounts outstanding under our revolving credit facility on January 17, 2018 with part of the $444,309 of net proceeds from our IPO. Upon completion of our IPO, the maturity date of our revolving credit facility was extended to December 29, 2021 and we have the option to extend the maturity date for two, six month periods through December 29, 2022. (2) We assumed this mortgage note in connection with our acquisition of a property. The stated interest rate for this mortgage debt is the contractually stated rate; we recorded the assumed mortgage note at estimated fair value on the date of acquisition. We amortize the fair value premium to interest expense over the respective term of the mortgage note to reduce interest expense to the estimated market interest rate as of the date of acquisition. On December 29, 2017, we obtained a $ 750,000 secured revolving credit facility which initially had a maturity date of March 29, 2018. Upon the completion of our IPO, our secured revolving credit facility became a $ 750,000 unsecured revolving credit facility and the maturity date was extended to December 29, 2021. Following our IPO, borrowings under our revolving credit facility are available for our general business purposes, including acquisitions. We may borrow, repay and reborrow funds under our revolving credit facility until maturity, and no principal repayment is due until maturity. Interest on borrowings under our revolving credit facility is calculated at floating rates based on LIBOR plus a premium that varies based on our leverage ratio. We have the option to extend the maturity date of our revolving credit facility for two, six month periods, subject to payment of extension fees and satisfaction of other conditions. We are also required to pay a commitment fee on the unused portion of our revolving credit facility until and if such time as we make a ratings election, and thereafter we will be required to pay a facility fee in lieu of such commitment fee based on the maximum amount of our revolving credit facility. The agreement governing our revolving credit facility, or our credit agreement, also includes a feature under which the maximum borrowing availability under our revolving credit facility may be increased to up to $ 1,500,000 in certain circumstances. As of December 31, 2018, interest payable on the amount outstanding under our revolving credit facility was LIBOR plus 130 basis points . As of December 31, 2018 and 2017, the interest rate payable on borrowings under our revolving credit facility was 3.81% and 2.89% , respectively. The weighted average interest rate for borrowings under our revolving credit facility was 3.33% for the year ended December 31, 2018 . As of December 31, 2018 and February 19, 2019, we had $ 413,000 and $ 60,000 , respectively, outstanding under our revolving credit facility and $337,000 and $690,000 , respectively, available to borrow under our revolving credit facility. Our credit agreement provides for acceleration of payment of all amounts due thereunder upon the occurrence and continuation of certain events of default, such as, a change of control of us, which includes RMR LLC ceasing to act as our business manager and property manager. Our credit agreement also contains a number of covenants, including covenants that restrict our ability to incur debts or to make distributions in certain circumstances, and generally requires us to maintain certain financial ratios. We believe we were in compliance with the terms and conditions of the covenants under our credit agreement at December 31, 2018. As of December 31, 2018 , the principal amount outstanding under our mortgage note was $48,750 . This mortgage note was secured by one of our properties with a net book value of $64,901 . This mortgage note is non-recourse, subject to certain limited exceptions, and does not contain any material financial covenants. On January 29, 2019, we obtained a $650,000 mortgage loan secured by 186 of our properties ( 178 land parcels and eight buildings) containing approximately 9.6 million square feet with a net book value of $492,620 , located on the island of Oahu, Hawaii. The non-amortizing loan matures on February 7, 2029 and requires monthly interest payments at a fixed rate of 4.31% per annum. We used the proceeds from this loan to repay outstanding borrowings under our $750,000 unsecured revolving credit facility and to fund acquisitions. The required principal payments due during the next five years and thereafter under all our outstanding debt as of December 31, 2018 are as follows: Principal Year Payment 2019 $ — 2020 48,750 2021 413,000 2022 — 2023 — Thereafter — $ 461,750 (1) (1) Total debt outstanding as of December 31, 2018 , including unamortized debt premiums, was $ 462,195 . |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities | Fair Value of Assets and Liabilities Our financial instruments include cash and cash equivalents, rents receivable, our revolving credit facility, mortgage note payable, accounts payable, rents collected in advance and amounts due from or to related persons. At December 31, 2018 and 2017 , the fair value of our financial instruments approximated their carrying values in our consolidated financial statements, due to the short term nature of floating interest rates, except as follows: At December 31, 2018 At December 31, 2017 Carrying Estimated Carrying Estimated Value (1) Fair Value Value (1) Fair Value Mortgage note payable $ 49,195 $ 48,642 $ 49,427 $ 48,919 (1) Includes unamortized premiums of $445 and $677 as of December 31, 2018 and 2017 , respectively. We estimate the fair value of our mortgage note payable using a discounted cash flow analysis and currently prevailing market rates as of the measurement date (Level 3 inputs). Because Level 3 inputs are unobservable, our estimated fair value may differ materially from the actual fair value. |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Shareholders' Equity | Shareholders’ Equity Common Share Awards: We have common shares available for issuance under the terms of our 2018 Equity Compensation Plan, or the 2018 Plan. During the year ended December 31, 2018, we awarded to our officers and other employees of RMR LLC annual share awards of 54,400 of our common shares, valued at $1,269 , in aggregate. We also granted each of our then Trustees 1,000 of our common shares with an aggregate value of $104 ($ 21 per Trustee) as compensation for the period from our IPO to May 2018 and granted each of our then Trustees 3,000 common shares with an aggregate value of $ 314 ($ 63 per Trustee) as part of their annual compensation. We granted an additional 3,000 common shares in December 2018, with an aggregate value of $61 to one of our Managing Trustees, who was elected as a Managing Trustee in December 2018. The values of the share grants were based upon the closing price of our common shares trading on Nasdaq on the dates of grants. The common shares granted to our Trustees vested immediately. The common shares granted to our officers and certain other employees of RMR LLC vest in five equal annual installments beginning on the date of grant. We include the value of granted shares in general and administrative expenses ratably over the vesting period. A summary of shares granted, vested and forfeited under the terms of the 2018 Plan for the year ended December 31, 2018 is as follows: Weighted Average Number Grant Date of Shares Fair Value 2018 Activity: Granted 77,400 $ 22.60 Vested (33,880 ) $ 21.64 Forfeited (240 ) $ 23.33 Unvested shares at December 31, 2018 43,280 $ 23.33 The 43,280 unvested shares as of December 31, 2018 are scheduled to vest as follows: 15,320 shares in 2019, 9,320 shares in 2020, 9,320 shares in 2021 and 9,320 in 2022. As of December 31, 2018 , the estimated future compensation expense for the unvested shares was approximately $ 1,010 . The weighted average period over which the compensation expense will be recorded is approximately 28 months. During the year ended December 31, 2018 , we recorded $ 927 of compensation expense related to the 2018 Plan. At December 31, 2018 , 3,925,209 common shares remain available for issuance under the 2018 Plan. 2018 Common Share Purchases: On September 24, 2018, we purchased an aggregate of 2,369 of our common shares, valued at $22.08 per share, the closing price of our common shares on Nasdaq on that day, from certain of our officers and certain other employees of RMR LLC in satisfaction of tax withholding and payment obligations in connection with awards of our common shares. Distributions: During the year ended December 31, 2018 , we paid distributions on our common shares as follows: Declaration Record Paid Distributions Total Date Date Date Per Share Distributions 4/19/2018 4/30/2018 5/14/2018 $ 0.27 $ 17,551 7/19/2018 7/30/2018 8/13/2018 0.33 21,457 10/18/2018 10/29/2018 11/12/2018 0.33 21,474 $ 0.93 $ 60,482 Distributions per share paid or payable by us to our common shareholders for the year ended December 31, 2018 , was $ 0.93 . The characterization of our distributions for 2018 was 100% ordinary income. On January 18, 2019, we declared a regular quarterly distribution of $0.33 per common share, or approximately $21,500 , to shareholders of record on January 28, 2019. We expect to pay this distribution on or about February 21, 2019. |
Related Person Transactions
Related Person Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Person Transactions | Related Person Transactions We have relationships and historical and continuing transactions with RMR LLC, RMR Inc., AIC and others related to them, including other companies to which RMR LLC or its subsidiaries provide management services and some of which have trustees, directors or officers who are also our Trustees or officers. RMR LLC is a majority owned subsidiary of RMR Inc. One of our Managing Trustees, Adam Portnoy, as the sole trustee of ABP Trust, is the controlling shareholder of RMR Inc. and is a managing director and the president and chief executive officer of RMR Inc. and an officer and employee of RMR LLC. Barry M. Portnoy was our other Managing Trustee and a managing director and an officer of RMR Inc. and an officer and employee of RMR LLC until his death on February 25, 2018. John Murray, who succeeded John C. Popeo as our other Managing Trustee and President and Chief Executive Officer effective December 1, 2018, and each of our other officers is also an officer and employee of RMR LLC. Our Independent Trustees also serve as independent trustees or independent directors of other public companies to which RMR LLC or its subsidiaries provide management services. Adam Portnoy serves, and, until his death, Barry M. Portnoy served, as a managing director or managing trustee of these public companies, including SIR (prior to its merger into OPI’s subsidiary in December 2018). Other officers of RMR LLC serve as managing trustees or managing directors of certain of these companies. In addition, officers of RMR LLC and RMR Inc. serve as our officers and officers of other companies to which RMR LLC or its subsidiaries provide management services, including SIR prior to its merger into OPI’s subsidiary. Our Manager, RMR LLC. We have two agreements with RMR LLC to provide management services to us: (i) a business management agreement, which relates to our business generally, and (ii) a property management agreement, which relates to our property level operations. See Note 9 for further information regarding our management agreements with RMR LLC. Share Awards to RMR LLC Employees . As described in Note 6, we award shares to our officers and other employees of RMR LLC annually. Generally, one fifth of these awards vest on the grant date and one fifth vests on each of the next four anniversaries of the grant dates. In certain instances, we may accelerate the vesting of an award, such as in connection with the award holder’s retirement as an officer of us or an officer or employee of RMR LLC. These awards to RMR LLC employees are in addition to the share awards granted to our current and former Managing Trustees, as Trustee compensation, and the fees we paid to RMR LLC. See Note 6 for information regarding our share awards and activity as well as certain share purchases we made in connection with share award recipients satisfying tax withholding obligation on the vesting of share awards. SIR . Until January 17, 2018, when we completed our IPO, we were a wholly owned subsidiary of SIR. SIR was our largest shareholder until December 27, 2018, when SIR distributed to its shareholders of record as of the close of business on December 20, 2018, all 45,000,000 of our common shares that SIR then owned. Effective December 31, 2018, SIR merged with and into a wholly owned subsidiary of OPI. Adam Portnoy, one of our Managing Trustees, was also a managing trustee of SIR prior to its merger with OPI’s subsidiary. John C. Popeo, before he resigned on November 30, 2018, was our other Managing Trustee and President and Chief Executive Officer, and he also served as the chief financial officer and treasurer of SIR prior to its merger with OPI’s subsidiary. RMR LLC provided management services to SIR until its merger into OPI’s subsidiary, and continues to provide management services to OPI and it provides management services to us. As a result of the merger, OPI succeeded to all of SIR’s rights and obligations, including with respect to SIR’s agreements with us. IPO . In connection with our IPO, we and SIR entered a transaction agreement, or the Transaction Agreement, to govern our relationship with SIR. OPI is the successor to SIR under the Transaction Agreement. Pursuant to the Transaction Agreement: • our current assets and current liabilities were settled between SIR (for the periods ending on and before the closing of our IPO) and us (for periods ending after the closing of our IPO); • SIR agreed to indemnify us with respect to any of its liabilities, and we agreed to indemnify SIR with respect to any of our liabilities, after giving effect to the settlement between us and SIR of our current assets and current liabilities; and • we and SIR agreed to cooperate to enforce the ownership limitations in our and SIR’s respective declaration of trust as may be appropriate to qualify for and maintain qualification for taxation as a REIT under the IRC and otherwise to ensure each receives the economics of its assets and liabilities and to file future tax returns, including appropriate allocations of taxable income, expenses and other tax attributes. On January 17, 2018, we and SIR also entered a registration rights agreement, which granted SIR demand and piggyback registration rights, subject to certain limitations, with respect to our common shares then owned by SIR. This registration rights agreement expired on December 27, 2018 due to SIR no longer beneficially owning any of our common shares following SIR’s pro rata distribution of our common shares that it then held to its shareholders on such date. AIC. On December 28, 2018, we and SIR entered a stock purchase agreement, or the AIC Stock Purchase Agreement, pursuant to which we purchased all of SIR’s shares of common stock of AIC, an Indiana insurance company, effective December 31, 2018 for a purchase price of $8,632 . As a result of this purchase, we, ABP Trust and five other companies to which RMR LLC provides management services currently own AIC in equal amounts and are parties to a shareholders agreement regarding AIC. All our Trustees (other than John Murray) and all the independent trustees and independent directors of the other AIC shareholders currently serve on the board of directors of AIC. RMR LLC provides management and administrative services to AIC pursuant to a management and administrative services agreement with AIC. Pursuant to this agreement, AIC pays to RMR LLC a service fee equal to 3.0% of the total annual net earned premiums payable under then active policies issued or underwritten by AIC or by a vendor or an agent of AIC on its behalf or in furtherance of AIC’s business. We and the other AIC shareholders participate in a combined property insurance program arranged and insured or reinsured in part by AIC. Historically, we participated in this program through SIR, as SIR’s subsidiary, and SIR allocated to us the portion of the premiums for this insurance program, including taxes and fees, covering our Initial Properties, which allocations were $266 , $320 and $351 for the policy years ending June 30, 2019, 2018 and 2017, respectively, which amount for the policy year ending June 30, 2019 may be adjusted from time to time as we acquire or dispose of properties included in this insurance program. We paid or reimbursed SIR approximately $266 in respect of this insurance program for the policy year ending June 30, 2019. As of December 31, 2018, our investment in AIC had a carrying value of $8,632 . This amount is included in other assets in our consolidated balance sheets. There was no income recognized related to our investment in AIC for the year ended December 31, 2018. Directors’ and Officers’ Liability Insurance. We, RMR Inc., RMR LLC and certain other companies to which RMR LLC or its subsidiaries provide management services participate in a combined directors’ and officers’ liability insurance policy. The current combined policy expires in September 2020. Prior to SIR’s distribution of our common shares to its shareholders, as a majority owned subsidiary of SIR, we were provided coverage under this policy and SIR allocated a portion of its cost of the policy to us. The cost of this insurance SIR allocated to us was $90 , $116 and $93 for the years ended December 31, 2018, 2017 and 2016, respectively, and is included in general and administrative expenses in our consolidated statements of comprehensive income. |
Certain Arrangements, Allocatio
Certain Arrangements, Allocations and Operations Prior to our IPO | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Certain Arrangements, Allocations and Operations Prior to our IPO | Certain Arrangements, Allocations and Operations Prior to our IPO In connection with our IPO, on September 29, 2017, SIR contributed to us 266 properties with a total of approximately 28,540,000 rentable square feet, including 16,834,000 rentable square feet of primarily industrial lands in Hawaii and approximately 11,706,000 rentable square feet of industrial and logistics properties in 24 other states. In connection with our formation and this contribution from SIR, we issued to SIR 45,000,000 of our common shares and the SIR Note, and we assumed three mortgage notes totaling $63,069 , as of September 30, 2017, that were secured by three of our Initial Properties. In December 2017, we obtained a $750,000 secured revolving credit facility, and we used the proceeds of an initial borrowing under this credit facility to pay the SIR Note in full. Also in December 2017, SIR prepaid on our behalf two of the mortgage notes totaling approximately $14,319 that had encumbered two of our Initial Properties. In connection with our IPO, we reimbursed SIR for approximately $7,271 of costs that SIR incurred in connection with our formation and preparation for our IPO. In addition, SIR collected rents from certain of our tenants for the period subsequent to our IPO, of which SIR owed to us $865 as of December 31, 2018, which amount is included in due from related persons in our consolidated balance sheet as of December 31, 2018. OPI (as successor by merger to SIR) paid this amount due to us in January 2019. We do not have any employees. As a wholly owned subsidiary of SIR, until the completion of our IPO, we received services from RMR LLC under SIR’s management agreements with RMR LLC. In connection with our IPO, we entered two agreements with RMR LLC to provide management services to us that were substantially similar to the terms of the then management agreements between SIR and RMR LLC. See Note 9 for further information regarding our management agreements with RMR LLC. For periods prior to the completion of our IPO on January 17, 2018, base management fees payable by SIR under SIR’s business management agreement with RMR LLC were calculated based on the historical costs of our Initial Properties and incentive management fees payable by SIR and allocated to us were based on the percentage of the base management fees allocated to us compared to the total base management fees paid by SIR. Base management fees paid by SIR allocated to us by SIR for the period from January 1, 2018 to January 16, 2018 and the years ended December 31, 2017 and 2016 were $308 , $6,823 and $6,789 , respectively. The incentive management fee allocated to us by SIR for the year ended December 31, 2017 and paid to RMR LLC in January 2018 was $7,660 , and no incentive management fees were allocated to us by SIR for the year ended December 31, 2016. General and administrative expenses incurred by SIR, which include costs of the internal audit function provided by RMR LLC to the companies it or its subsidiaries manage, were allocated to us by SIR for periods prior to our IPO based on the percentage of the base management fees allocated to us compared to the total base management fees paid by SIR. The amounts allocated to us by SIR for internal audit costs for the period from January 1 to January 16, 2018 and the years ended December 31, 2017 and 2016 were $4 , $84 and $74 , respectively. RMR LLC was paid, by SIR, property management fees equal to 3.0% of gross collected rents and construction supervision fees equal to 5.0% of construction costs. The aggregate property management and construction supervision fees allocated to us by SIR for the period from January 1 to January 16, 2018 and the years ended December 31, 2017 and 2016 were $230 , $4,244 and $4,182 , respectively. These amounts were calculated based upon gross collected rents and construction supervision services provided at or for our Initial Properties. These amounts are included in other operating expenses or have been capitalized, as appropriate, in our consolidated financial statements. Under SIR’s management agreements with RMR LLC, SIR was generally responsible for all of our operating expenses, including certain expenses incurred by RMR LLC on our behalf. Our property level operating costs are generally incorporated into rents charged to our tenants, including certain payroll and related costs incurred by RMR LLC. The total of these property management related reimbursements paid to RMR LLC for costs incurred by RMR LLC related to our Initial Properties for the period from January 1 to January 16, 2018 and the years ended December 31, 2017 and 2016 were $120 , $2,512 and $2,448 , respectively. These amounts are included in other operating expenses in our consolidated financial statements for these periods. We also paid or reimbursed SIR for our allocated portion of certain insurance policies. The total of these insurance related reimbursements paid to SIR for costs for the period from January 1 to January 16, 2018 was $4 . See Note 7 for further information. See Notes 7 and 9 for further information regarding our relationships, agreements and transactions with RMR LLC and SIR. |
Business and Property Managemen
Business and Property Management Agreements | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Business and Property Management Agreements with RMR LLC | Business and Property Management Agreements with RMR LLC We have no employees. The personnel and various services we require to operate our business are provided to us by RMR LLC. Upon completion of our IPO on January 17, 2018, we entered two agreements with RMR LLC to provide management services to us: (i) a business management agreement, which relates to our business generally, and (ii) a property management agreement, which relates to our property level operations. See Notes 7 and 8 for further information regarding our relationship, agreements and transactions with RMR LLC prior to our IPO. Management Agreements with RMR LLC. Our management agreements with RMR LLC provide for an annual base management fee, an annual incentive management fee and property management and construction supervision fees, payable in cash, among other terms: • Base Management Fee . The annual base management fee payable to RMR LLC by us for each applicable period is equal to the lesser of: ◦ the sum of (i) 0.5% of the average aggregate historical cost of the real estate assets acquired from a REIT to which RMR LLC provided business management or property management services, or the Transferred Assets, which includes our Initial Properties we acquired from SIR, plus (ii) 0.7% of the average aggregate historical cost of our real estate investments excluding the Transferred Assets up to $250,000 , plus (iii) 0.5% of the average aggregate historical cost of our real estate investments excluding the Transferred Assets exceeding $250,000 ; and ◦ the sum of (i) 0.7% of the average closing price per share of our common shares on the stock exchange on which such shares are principally traded during such period, multiplied by the average number of our common shares outstanding during such period, plus the daily weighted average of the aggregate liquidation preference of each class of our preferred shares outstanding during such period, plus the daily weighted average of the aggregate principal amount of our consolidated indebtedness during such period, or, together, our Average Market Capitalization, up to $250,000 , plus (ii) 0.5% of our Average Market Capitalization exceeding $250,000 . The average aggregate historical cost of our real estate investments includes our consolidated assets invested, directly or indirectly, in equity interests in or loans secured by real estate and personal property owned in connection with such real estate (including acquisition related costs and costs which may be allocated to intangibles or are unallocated), all before reserves for depreciation, amortization, impairment charges or bad debts or other similar non-cash reserves. • Incentive Management Fee . The incentive management fee which may be earned by RMR LLC for an annual period is calculated as follows: ◦ An amount, subject to a cap, based on the value of our common shares outstanding, equal to 12.0% of the product of: – if the relevant measurement period ends on or before December 31, 2020, $1,560,000 (our unadjusted equity market capitalization as calculated at our IPO) or, if the relevant measurement period ends thereafter, our equity market capitalization on the last trading day of the calendar year immediately prior to the relevant measurement period, and – the amount (expressed as a percentage) by which the total return per share, as defined in the business management agreement and further described below, of our common shareholders (i.e., share price appreciation plus dividends) exceeds the total shareholder return of the applicable market index, or the benchmark return per share, for the relevant measurement period. Effective as of January 1, 2019 we amended our business management agreement with RMR LLC so that the SNL U.S. Industrial REIT Index will be used for periods beginning on and after January 1, 2019, with the SNL U.S. REIT Equity Index used for periods ending on or prior to December 31, 2018. For purposes of the total return per share of our common shareholders, share price appreciation for a measurement period is determined by subtracting (i) if the measurement period ends on or before December 31, 2020, $24.00 per common share (our unadjusted initial share price, as defined under the business management agreement, based on our IPO price of our common shares) or, if the measurement period ends after December 31, 2020, the closing price of our common shares on Nasdaq on the last trading day of the year immediately before the first year of the applicable measurement period from (ii) the average closing price of our common shares on the 10 consecutive trading days having the highest average closing prices during the final 30 trading days in the last year of the measurement period. ◦ The calculation of the incentive management fee (including the determinations of our equity market capitalization, initial share price and the total return per share of our common shareholders) is subject to adjustments if additional common shares are issued during the measurement period. ◦ No incentive management fee is payable by us unless our total return per share during the measurement period is positive. ◦ The measurement periods are generally three year periods ending with the year for which the incentive management fee is being calculated, with shorter periods applicable in the case of the calculation of the incentive fee for 2020 (the period beginning on January 12, 2018, the first day our common shares began trading, and ending on December 31, 2020), 2019 (the period beginning on January 12, 2018 and ending on December 31, 2019) and 2018 (the period beginning on January 12, 2018 and ending on December 31, 2018). ◦ If our total return per share exceeds 12.0% per year in any measurement period, the benchmark return per share is adjusted to be the lesser of the total shareholder return of the applicable market index for such measurement period and 12.0% per year, or the adjusted benchmark return per share. In instances where the adjusted benchmark return per share applies, the incentive management fee will be reduced if our total return per share is between 200 basis points and 500 basis points below the applicable market index, by a low return factor, as defined in the business management agreement, and there will be no incentive management fee paid if, in these instances, our total return per share is more than 500 basis points below the applicable market index. ◦ The incentive management fee is subject to a cap. The cap is equal to the value of the number of our common shares which would, after issuance, represent 1.5% of the number of our common shares then outstanding multiplied by the average closing price of our common shares during the 10 consecutive trading days having the highest average closing prices during the final 30 trading days of the relevant measurement period. ◦ Incentive management fees we paid to RMR LLC for any period may be subject to “clawback” if our financial statements for that period are restated due to material non-compliance with any financial reporting requirements under the securities laws as a result of the bad faith, fraud, willful misconduct or gross negligence of RMR LLC and the amount of the incentive management fee we paid was greater than the amount we would have paid based on the restated financial statements. Pursuant to our business management agreement with RMR LLC, we recognized net business management fees of $7,269 for the period from January 17, 2018 through December 31, 2018. The net business management fees we recognized are included in general and administrative expenses in our consolidated statements of comprehensive income for the year ended December 31, 2018. We did no t incur an incentive management fee pursuant to our business management agreement for the period ended December 31, 2018. • Property Management and Construction Supervision Fees . The property management fees payable to RMR LLC by us for each applicable period are equal to 3.0% of gross collected rents and the construction supervision fees payable to RMR LLC by us for each applicable period are equal to 5.0% of construction costs. Pursuant to our property management agreement with RMR LLC, we recognized aggregate property management and construction supervision fees of $4,680 for the period from January 17, 2018 through December 31, 2018. These amounts are included in operating expenses or capitalized, as appropriate, in our consolidated statements of comprehensive income. • Expense Reimbursement . We are generally responsible for all of our operating expenses, including certain expenses incurred or arranged by RMR LLC on our behalf. We are generally not responsible for payment of RMR LLC’s employment, office or administrative expenses incurred to provide management services to us, except for the employment and related expenses of RMR LLC’s employees assigned to work exclusively or partly at our properties, our share of the wages, benefits and other related costs of RMR LLC’s centralized accounting personnel, our share of RMR LLC’s costs for providing our internal audit function and as otherwise agreed. Our property level operating expenses are generally incorporated into rents charged to our tenants, including certain payroll and related costs incurred by RMR LLC. These amounts are included in operating expenses in our consolidated statements of comprehensive income for these periods. The amount we recognized as expense for payroll and related costs we reimbursed to RMR LLC was $2,672 for the period from January 17, 2018 through December 31, 2018. Our Audit Committee appoints our Director of Internal Audit and our Compensation Committee approves the costs of our internal audit function. The amount recognized as expense for internal audit costs was $236 for the year ended December 31, 2018. This amount is included in general and administrative expenses in our consolidated statements of comprehensive income for this period. • Term . Our management agreements with RMR LLC have terms that end on December 31, 2038, and automatically extend on December 31st of each year for an additional year, so that the terms of our management agreements thereafter end on the 20th anniversary of the date of the extension. • Termination Rights . We have the right to terminate one or both of our management agreements with RMR LLC: (i) at any time on 60 days’ written notice for convenience, (ii) immediately on written notice for cause, as defined therein, (iii) on written notice given within 60 days after the end of an applicable calendar year for a performance reason, as defined therein, and (iv) by written notice during the 12 months following a change of control of RMR LLC, as defined therein. RMR LLC has the right to terminate the management agreements for good reason, as defined therein. • Termination Fee . If we terminate one or both of our management agreements with RMR LLC for convenience, or if RMR LLC terminates one or both of our management agreements for good reason, we have agreed to pay RMR LLC a termination fee in an amount equal to the sum of the present values of the monthly future fees, as defined therein, for the terminated management agreement(s) for the term that was remaining prior to such termination, which, depending on the time of termination would be between 19 and 20 years. If we terminate one or both of our management agreements with RMR LLC for a performance reason, we have agreed to pay RMR LLC the termination fee calculated as described above, but assuming a 10 year term was remaining prior to the termination. We are not required to pay any termination fee if we terminate our management agreements with RMR LLC for cause or as a result of a change of control of RMR LLC. • Transition Services . RMR LLC has agreed to provide certain transition services to us for 120 days following an applicable termination by us or notice of termination by RMR LLC, including cooperating with us and using commercially reasonable efforts to facilitate the orderly transfer of the management and real estate investment services provided under our business management agreement and to facilitate the orderly transfer of the management of the managed properties under our property management agreement, as applicable. • Vendors. Pursuant to our management agreements with RMR LLC, RMR LLC may from time to time negotiate on our behalf with certain third party vendors and suppliers for the procurement of goods and services to us. As part of this arrangement, we may enter agreements with RMR LLC and other companies to which RMR LLC or its subsidiaries provide management services for the purpose of obtaining more favorable terms from such vendors and suppliers. • Investment Opportunities . Under our business management agreement with RMR LLC, we acknowledge that RMR LLC may engage in other activities or businesses and act as the manager to any other person or entity (including other REITs) even though such person or entity has investment policies and objectives similar to ours and we are not entitled to preferential treatment in receiving information, recommendations and other services from RMR LLC. |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Selected Quarterly Financial Information [Abstract] | |
Selected Quarterly Financial Data (Unaudited) | Selected Quarterly Financial Data (Unaudited) The following is a summary of our unaudited quarterly results of operations for 2018 and 2017 : 2018 First Second Third Fourth Quarter Quarter Quarter Quarter Total revenues $ 40,605 $ 39,420 $ 40,431 $ 42,074 Net income $ 19,232 $ 18,726 $ 18,142 $ 18,288 Net income per common share—basic and diluted $ 0.31 $ 0.29 $ 0.28 $ 0.28 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Total revenues $ 39,440 $ 38,605 $ 39,066 $ 39,395 Net income $ 20,356 $ 21,575 $ 22,903 $ 15,269 Net income per common share—basic and diluted $ 0.45 $ 0.48 $ 0.51 $ 0.34 |
SCHEDULE II - Valuation and Qua
SCHEDULE II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2018 | |
Valuation and Qualifying Accounts [Abstract] | |
SCHEDULE II - Valuation and Qualifying Accounts | SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS December 31, 2018 (dollars in thousands) Balance at Charged to Balance Beginning Costs and at End Description of Period Expenses Deductions of Period Year ended December 31, 2016: Allowance for doubtful accounts $ 413 $ 257 $ (87 ) $ 583 Year ended December 31, 2017: Allowance for doubtful accounts $ 583 $ 704 $ (46 ) $ 1,241 Year ended December 31, 2018: Allowance for doubtful accounts $ 1,241 $ 1,198 $ (982 ) $ 1,457 |
SCHEDULE III - REAL ESTATE AND
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION | 12 Months Ended |
Dec. 31, 2018 | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION | SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2018 (dollars in thousands) Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings and Subsequent to Buildings and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 1 4501 Industrial Drive Fort Smith AR Mainland Industrial $ — $ 900 $ 3,485 $ — $ 900 $ 3,485 $ 4,385 $ (341 ) 1/29/2015 2013 2 955 Aeroplaza Drive Colorado Springs CO Mainland Industrial — 800 7,412 — 800 7,412 8,212 (726 ) 1/29/2015 2012 3/4 13400 East 39th Avenue and 3800 Wheeling Street Denver CO Mainland Industrial — 3,100 12,955 46 3,100 13,001 16,101 (1,298 ) 1/29/2015 1973 5 150 Greenhorn Drive Pueblo CO Mainland Industrial — 200 4,177 — 200 4,177 4,377 (409 ) 1/29/2015 2013 6 2 Tower Drive Wallingford CT Mainland Industrial — 1,471 2,165 7 1,471 2,172 3,643 (668 ) 10/24/2006 1978 7 235 Great Pond Drive Windsor CT Mainland Industrial — 2,400 9,469 — 2,400 9,469 11,869 (1,519 ) 7/20/2012 2004 8 10450 Doral Boulevard Doral FL Mainland Industrial — 15,225 28,101 — 15,225 28,101 43,326 (468 ) 6/27/2018 1996 9 2100 NW 82nd Avenue Miami FL Mainland Industrial — 144 1,297 454 144 1,751 1,895 (749 ) 3/19/1998 1987 10 1000 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 2,252 — — 2,252 — 2,252 — 12/5/2003 — 11 1001 Ahua Street Honolulu HI Hawaii Land and Easement — 15,155 3,312 92 15,155 3,404 18,559 (1,269 ) 12/5/2003 — 12 1024 Kikowaena Place Honolulu HI Hawaii Land and Easement — 1,818 — — 1,818 — 1,818 — 12/5/2003 — 13 1024 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,385 — — 1,385 — 1,385 — 12/5/2003 — 14 1027 Kikowaena Place Honolulu HI Hawaii Land and Easement — 5,444 — — 5,444 — 5,444 — 12/5/2003 — 15 1030 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 5,655 — — 5,655 — 5,655 — 12/5/2003 — 16 1038 Kikowaena Place Honolulu HI Hawaii Land and Easement — 2,576 — — 2,576 — 2,576 — 12/5/2003 — 17 1045 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 819 — — 819 — 819 — 12/5/2003 — 18 1050 Kikowaena Place Honolulu HI Hawaii Land and Easement — 1,404 873 — 1,404 873 2,277 (328 ) 12/5/2003 — 19 1052 Ahua Street Honolulu HI Hawaii Land and Easement — 1,703 — 240 1,703 240 1,943 (79 ) 12/5/2003 — 20 1055 Ahua Street Honolulu HI Hawaii Land and Easement — 1,216 — — 1,216 — 1,216 — 12/5/2003 — 21 106 Puuhale Road Honolulu HI Hawaii Building — 1,113 — 229 1,113 229 1,342 (54 ) 12/5/2003 1966 22 1062 Kikowaena Place Honolulu HI Hawaii Land and Easement — 1,049 598 — 1,049 598 1,647 (225 ) 12/5/2003 — 23 1122 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 5,781 — — 5,781 — 5,781 — 12/5/2003 — 24 113 Puuhale Road Honolulu HI Hawaii Land and Easement — 3,729 — — 3,729 — 3,729 — 12/5/2003 — 25 1150 Kikowaena Place Honolulu HI Hawaii Land and Easement — 2,445 — — 2,445 — 2,445 — 12/5/2003 — 26 120 Mokauea Street Honolulu HI Hawaii Building — 1,953 — 655 1,953 655 2,608 (105 ) 12/5/2003 1970 27 120 Sand Island Access Road Honolulu HI Hawaii Building — 1,130 11,307 1,298 1,130 12,605 13,735 (4,321 ) 11/23/2004 2004 28 120B Mokauea Street Honolulu HI Hawaii Building — 1,953 — — 1,953 — 1,953 — 12/5/2003 1970 29 125 Puuhale Road Honolulu HI Hawaii Land and Easement — 1,630 — — 1,630 — 1,630 — 12/5/2003 — 30 125B Puuhale Road Honolulu HI Hawaii Land and Easement — 2,815 — — 2,815 — 2,815 — 12/5/2003 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings and Subsequent to Buildings and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 31 1330 Pali Highway Honolulu HI Hawaii Land and Easement — 1,423 — — 1,423 — 1,423 — 12/5/2003 — 32 1360 Pali Highway Honolulu HI Hawaii Land and Easement — 9,170 — 161 9,170 161 9,331 (103 ) 12/5/2003 — 33 140 Puuhale Road Honolulu HI Hawaii Land and Easement — 1,100 — — 1,100 — 1,100 — 12/5/2003 — 34 142 Mokauea Street Honolulu HI Hawaii Building — 2,182 — 1,455 2,182 1,455 3,637 (359 ) 12/5/2003 1972 35 148 Mokauea Street Honolulu HI Hawaii Land and Easement — 3,476 — — 3,476 — 3,476 — 12/5/2003 — 36 150 Puuhale Road Honolulu HI Hawaii Land and Easement — 4,887 — — 4,887 — 4,887 — 12/5/2003 — 37 151 Puuhale Road Honolulu HI Hawaii Land and Easement — 1,956 — — 1,956 — 1,956 — 12/5/2003 — 38 158 Sand Island Access Road Honolulu HI Hawaii Land and Easement — 2,488 — — 2,488 — 2,488 — 12/5/2003 — 39 165 Sand Island Access Road Honolulu HI Hawaii Land and Easement — 758 — — 758 — 758 — 12/5/2003 — 40 179 Sand Island Access Road Honolulu HI Hawaii Land and Easement — 2,480 — — 2,480 — 2,480 — 12/5/2003 — 41 180 Sand Island Access Road Honolulu HI Hawaii Land and Easement — 1,655 — — 1,655 — 1,655 — 12/5/2003 — 42 1926 Auiki Street Honolulu HI Hawaii Building — 2,874 — 1,562 2,874 1,562 4,436 (466 ) 12/5/2003 1959 43 1931 Kahai Street Honolulu HI Hawaii Land and Easement — 3,779 — — 3,779 — 3,779 — 12/5/2003 — 44 197 Sand Island Access Road Honolulu HI Hawaii Land and Easement — 1,238 — — 1,238 — 1,238 — 12/5/2003 — 45 2001 Kahai Street Honolulu HI Hawaii Land and Easement — 1,091 — — 1,091 — 1,091 — 12/5/2003 — 46 2019 Kahai Street Honolulu HI Hawaii Land and Easement — 1,377 — — 1,377 — 1,377 — 12/5/2003 — 47 2020 Auiki Street Honolulu HI Hawaii Land and Easement — 2,385 — — 2,385 — 2,385 — 12/5/2003 — 48 204 Sand Island Access Road Honolulu HI Hawaii Land and Easement — 1,689 — — 1,689 — 1,689 — 12/5/2003 — 49 207 Puuhale Road Honolulu HI Hawaii Land and Easement — 2,024 — — 2,024 — 2,024 — 12/5/2003 — 50 2103 Kaliawa Street Honolulu HI Hawaii Land and Easement — 3,212 — — 3,212 — 3,212 — 12/5/2003 — 51 2106 Kaliawa Street Honolulu HI Hawaii Land and Easement — 1,568 — 169 1,568 169 1,737 (66 ) 12/5/2003 — 52 2110 Auiki Street Honolulu HI Hawaii Land and Easement — 837 — — 837 — 837 — 12/5/2003 — 53 212 Mohonua Place Honolulu HI Hawaii Land and Easement — 1,067 — — 1,067 — 1,067 — 12/5/2003 — 54 2122 Kaliawa Street Honolulu HI Hawaii Land and Easement — 1,365 — — 1,365 — 1,365 — 12/5/2003 — 55 2127 Auiki Street Honolulu HI Hawaii Land and Easement — 2,906 — 97 2,906 97 3,003 (25 ) 12/5/2003 — 56 2135 Auiki Street Honolulu HI Hawaii Land and Easement — 825 — — 825 — 825 — 12/5/2003 — 57 2139 Kaliawa Street Honolulu HI Hawaii Land and Easement — 885 — — 885 — 885 — 12/5/2003 — 58 214 Sand Island Access Road Honolulu HI Hawaii Building — 1,864 — 485 1,864 485 2,349 (43 ) 12/5/2003 1981 59 2140 Kaliawa Street Honolulu HI Hawaii Land and Easement — 931 — — 931 — 931 — 12/5/2003 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings and Subsequent to Buildings and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 60 2144 Auiki Street Honolulu HI Hawaii Building — 2,640 — 7,088 2,640 7,088 9,728 (2,068 ) 12/5/2003 1953 61 215 Puuhale Road Honolulu HI Hawaii Land and Easement — 2,117 — — 2,117 — 2,117 — 12/5/2003 — 62 218 Mohonua Place Honolulu HI Hawaii Land and Easement — 1,741 — — 1,741 — 1,741 — 12/5/2003 — 63 220 Puuhale Road Honolulu HI Hawaii Land and Easement — 2,619 — — 2,619 — 2,619 — 12/5/2003 — 64 2250 Pahounui Drive Honolulu HI Hawaii Land and Easement — 3,862 — — 3,862 — 3,862 — 12/5/2003 — 65 2264 Pahounui Drive Honolulu HI Hawaii Land and Easement — 1,632 — — 1,632 — 1,632 — 12/5/2003 — 66 2276 Pahounui Drive Honolulu HI Hawaii Land and Easement — 1,619 — — 1,619 — 1,619 — 12/5/2003 — 67 228 Mohonua Place Honolulu HI Hawaii Land and Easement — 1,865 — — 1,865 — 1,865 — 12/5/2003 — 68 2308 Pahounui Drive Honolulu HI Hawaii Land and Easement — 3,314 — — 3,314 — 3,314 — 12/5/2003 — 69 231 Sand Island Access Road Honolulu HI Hawaii Land and Easement — 752 — — 752 — 752 — 12/5/2003 — 70 231B Sand Island Access Road Honolulu HI Hawaii Land and Easement — 1,539 — — 1,539 — 1,539 — 12/5/2003 — 71 2344 Pahounui Drive Honolulu HI Hawaii Land and Easement — 6,709 — — 6,709 — 6,709 — 12/5/2003 — 72 238 Sand Island Access Road Honolulu HI Hawaii Land and Easement — 2,273 — — 2,273 — 2,273 — 12/5/2003 — 73 2635 Waiwai Loop A Honolulu HI Hawaii Land and Easement — 934 350 683 934 1,033 1,967 (132 ) 12/5/2003 — 74 2635 Waiwai Loop B Honolulu HI Hawaii Land and Easement — 1,177 105 683 1,177 788 1,965 (40 ) 12/5/2003 — 75 2760 Kam Highway Honolulu HI Hawaii Land and Easement — 703 — 143 703 143 846 — 12/5/2003 — 76 2804 Kilihau Street Honolulu HI Hawaii Land and Easement — 1,775 2 — 1,775 2 1,777 (1 ) 12/5/2003 — 77 2806 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 78 2808 Kam Highway Honolulu HI Hawaii Land and Easement — 310 — — 310 — 310 — 12/5/2003 — 79 2809 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,837 — — 1,837 — 1,837 — 12/5/2003 — 80 2810 Paa Street Honolulu HI Hawaii Land and Easement — 3,340 — — 3,340 — 3,340 — 12/5/2003 — 81 2810 Pukoloa Street Honolulu HI Hawaii Land and Easement — 27,699 — 4 27,699 4 27,703 (4 ) 12/5/2003 — 82 2812 Awaawaloa Street Honolulu HI Hawaii Land and Easement — 1,801 2 1 1,801 3 1,804 (2 ) 12/5/2003 — 83 2814 Kilihau Street Honolulu HI Hawaii Land and Easement — 1,925 — — 1,925 — 1,925 — 12/5/2003 — 84 2815 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,818 — 5 1,818 5 1,823 (1 ) 12/5/2003 — 85 2815 Kilihau Street Honolulu HI Hawaii Land and Easement — 287 — — 287 — 287 — 12/5/2003 — 86 2816 Awaawaloa Street Honolulu HI Hawaii Land and Easement — 1,009 27 — 1,009 27 1,036 (10 ) 12/5/2003 — 87 2819 Mokumoa Street - A Honolulu HI Hawaii Land and Easement — 1,821 — — 1,821 — 1,821 — 12/5/2003 — 88 2819 Mokumoa Street - B Honolulu HI Hawaii Land and Easement — 1,816 — — 1,816 — 1,816 — 12/5/2003 — 89 2819 Pukoloa Street Honolulu HI Hawaii Land and Easement — 2,090 — 33 2,090 33 2,123 (8 ) 12/5/2003 — 90 2821 Kilihau Street Honolulu HI Hawaii Land and Easement — 287 — — 287 — 287 — 12/5/2003 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings and Subsequent to Buildings and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 91 2826 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 3,921 — — 3,921 — 3,921 — 12/5/2003 — 92 2827 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 93 2828 Paa Street Honolulu HI Hawaii Land and Easement — 12,448 — — 12,448 — 12,448 — 12/5/2003 — 94 2829 Awaawaloa Street Honolulu HI Hawaii Land and Easement — 1,720 2 — 1,720 2 1,722 (2 ) 12/5/2003 — 95 2829 Kilihau Street Honolulu HI Hawaii Land and Easement — 287 — — 287 — 287 — 12/5/2003 — 96 2829 Pukoloa Street Honolulu HI Hawaii Land and Easement — 2,088 — — 2,088 — 2,088 — 12/5/2003 — 97 2830 Mokumoa Street Honolulu HI Hawaii Land and Easement — 2,146 — — 2,146 — 2,146 — 12/5/2003 — 98 2831 Awaawaloa Street Honolulu HI Hawaii Land and Easement — 860 — — 860 — 860 — 12/5/2003 — 99 2831 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,272 529 56 1,272 585 1,857 (219 ) 12/5/2003 — 100 2833 Kilihau Street Honolulu HI Hawaii Land and Easement — 601 — — 601 — 601 — 12/5/2003 — 101 2833 Paa Street Honolulu HI Hawaii Land and Easement — 1,701 — — 1,701 — 1,701 — 12/5/2003 — 102 2833 Paa Street #2 Honolulu HI Hawaii Land and Easement — 1,675 — — 1,675 — 1,675 — 12/5/2003 — 103 2836 Awaawaloa Street Honolulu HI Hawaii Land and Easement — 1,353 — — 1,353 — 1,353 — 12/5/2003 — 104 2838 Kilihau Street Honolulu HI Hawaii Land and Easement — 4,262 — — 4,262 — 4,262 — 12/5/2003 — 105 2839 Kilihau Street Honolulu HI Hawaii Land and Easement — 627 — — 627 — 627 — 12/5/2003 — 106 2839 Mokumoa Street Honolulu HI Hawaii Land and Easement — 1,942 — — 1,942 — 1,942 — 12/5/2003 — 107 2840 Mokumoa Street Honolulu HI Hawaii Land and Easement — 2,149 — — 2,149 — 2,149 — 12/5/2003 — 108 2841 Pukoloa Street Honolulu HI Hawaii Land and Easement — 2,088 — — 2,088 — 2,088 — 12/5/2003 — 109 2844 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,960 14 — 1,960 14 1,974 (11 ) 12/5/2003 — 110 2846-A Awaawaloa Street Honolulu HI Hawaii Land and Easement — 2,181 954 — 2,181 954 3,135 (359 ) 12/5/2003 — 111 2847 Awaawaloa Street Honolulu HI Hawaii Land and Easement — 582 303 — 582 303 885 (114 ) 12/5/2003 — 112 2849 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 860 — — 860 — 860 — 12/5/2003 — 113 2850 Awaawaloa Street Honolulu HI Hawaii Land and Easement — 286 173 — 286 173 459 (65 ) 12/5/2003 — 114 2850 Mokumoa Street Honolulu HI Hawaii Land and Easement — 2,143 — — 2,143 — 2,143 — 12/5/2003 — 115 2850 Paa Street Honolulu HI Hawaii Land and Easement — 22,827 — — 22,827 — 22,827 — 12/5/2003 — 116 2855 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,807 — — 1,807 — 1,807 — 12/5/2003 — 117 2855 Pukoloa Street Honolulu HI Hawaii Land and Easement — 1,934 — — 1,934 — 1,934 — 12/5/2003 — 118 2857 Awaawaloa Street Honolulu HI Hawaii Land and Easement — 983 — — 983 — 983 — 12/5/2003 — 119 2858 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 120 2861 Mokumoa Street Honolulu HI Hawaii Land and Easement — 3,867 — — 3,867 — 3,867 — 12/5/2003 — 121 2864 Awaawaloa Street Honolulu HI Hawaii Land and Easement — 1,836 — 6 1,836 6 1,842 (4 ) 12/5/2003 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings and Subsequent to Buildings and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 122 2864 Mokumoa Street Honolulu HI Hawaii Land and Easement — 2,092 — — 2,092 — 2,092 — 12/5/2003 — 123 2865 Pukoloa Street Honolulu HI Hawaii Land and Easement — 1,934 — — 1,934 — 1,934 — 12/5/2003 — 124 2868 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 125 2869 Mokumoa Street Honolulu HI Hawaii Land and Easement — 1,794 — — 1,794 — 1,794 — 12/5/2003 — 126 2875 Paa Street Honolulu HI Hawaii Land and Easement — 1,330 — — 1,330 — 1,330 — 12/5/2003 — 127 2879 Mokumoa Street Honolulu HI Hawaii Land and Easement — 1,789 — — 1,789 — 1,789 — 12/5/2003 — 128 2879 Paa Street Honolulu HI Hawaii Land and Easement — 1,691 — 44 1,691 44 1,735 (11 ) 12/5/2003 — 129 2886 Paa Street Honolulu HI Hawaii Land and Easement — 2,205 — — 2,205 — 2,205 — 12/5/2003 — 130 2889 Mokumoa Street Honolulu HI Hawaii Land and Easement — 1,783 — — 1,783 — 1,783 — 12/5/2003 — 131 2906 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,814 2 — 1,814 2 1,816 (1 ) 12/5/2003 — 132 2908 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 1,798 12 — 1,798 12 1,810 (1 ) 12/5/2003 — 133 2915 Kaihikapu Street Honolulu HI Hawaii Land and Easement — 2,579 — — 2,579 — 2,579 — 12/5/2003 — 134 2927 Mokumoa Street Honolulu HI Hawaii Land and Easement — 1,778 — — 1,778 — 1,778 — 12/5/2003 — 135 2928 Kaihikapu Street - A Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 136 2928 Kaihikapu Street - B Honolulu HI Hawaii Land and Easement — 1,948 — — 1,948 — 1,948 — 12/5/2003 — 137 2960 Mokumoa Street Honolulu HI Hawaii Land and Easement — 1,977 — — 1,977 — 1,977 — 12/5/2003 — 138 2965 Mokumoa Street Honolulu HI Hawaii Land and Easement — 2,140 — — 2,140 — 2,140 — 12/5/2003 — 139 2969 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 4,038 15 — 4,038 15 4,053 (8 ) 12/5/2003 — 140 2970 Mokumoa Street Honolulu HI Hawaii Land and Easement — 1,722 — — 1,722 — 1,722 — 12/5/2003 — 141 33 S. Vineyard Boulevard Honolulu HI Hawaii Land and Easement — 844 — — 844 — 844 — 12/5/2003 — 142 525 N. King Street Honolulu HI Hawaii Land and Easement — 1,342 — — 1,342 — 1,342 — 12/5/2003 — 143 609 Ahua Street Honolulu HI Hawaii Land and Easement — 616 — 8 616 8 624 (6 ) 12/5/2003 — 144 619 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,401 2 12 1,401 14 1,415 (1 ) 12/5/2003 — 145 645 Ahua Street Honolulu HI Hawaii Land and Easement — 882 — — 882 — 882 — 12/5/2003 — 146 659 Ahua Street Honolulu HI Hawaii Land and Easement — 860 20 — 860 20 880 (16 ) 12/5/2003 — 147 659 Puuloa Road Honolulu HI Hawaii Land and Easement — 1,807 — — 1,807 — 1,807 — 12/5/2003 — 148 660 Ahua Street Honolulu HI Hawaii Land and Easement — 1,783 3 1 1,783 4 1,787 (3 ) 12/5/2003 — 149 667 Puuloa Road Honolulu HI Hawaii Land and Easement — 860 2 — 860 2 862 (2 ) 12/5/2003 — 150 669 Ahua Street Honolulu HI Hawaii Land and Easement — 1,801 14 62 1,801 76 1,877 (18 ) 12/5/2003 — 151 673 Ahua Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 152 675 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,081 — — 1,081 — 1,081 — 12/5/2003 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings and Subsequent to Buildings and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 153 679 Puuloa Road Honolulu HI Hawaii Land and Easement — 1,807 3 — 1,807 3 1,810 (2 ) 12/5/2003 — 154 685 Ahua Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 155 673 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,801 20 — 1,801 20 1,821 (16 ) 12/5/2003 — 156 692 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,798 — — 1,798 — 1,798 — 12/5/2003 — 157 697 Ahua Street Honolulu HI Hawaii Land and Easement — 994 811 — 994 811 1,805 (307 ) 12/5/2003 — 158 702 Ahua Street Honolulu HI Hawaii Land and Easement — 1,783 4 — 1,783 4 1,787 (3 ) 12/5/2003 — 159 704 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 2,390 685 — 2,390 685 3,075 (258 ) 12/5/2003 — 160 709 Ahua Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 161 719 Ahua Street Honolulu HI Hawaii Land and Easement — 1,960 — — 1,960 — 1,960 — 12/5/2003 — 162 729 Ahua Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 163 733 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 3,403 — — 3,403 — 3,403 — 12/5/2003 — 164 739 Ahua Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 165 759 Puuloa Road Honolulu HI Hawaii Land and Easement — 1,766 3 — 1,766 3 1,769 (3 ) 12/5/2003 — 166 761 Ahua Street Honolulu HI Hawaii Land and Easement — 3,757 1 1 3,757 2 3,759 (1 ) 12/5/2003 — 167 766 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 168 770 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 169 789 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 2,608 3 — 2,608 3 2,611 (2 ) 12/5/2003 — 170 80 Sand Island Access Road Honolulu HI Hawaii Land and Easement — 7,972 — — 7,972 — 7,972 — 12/5/2003 — 171 803 Ahua Street Honolulu HI Hawaii Land and Easement — 3,804 — — 3,804 — 3,804 — 12/5/2003 — 172 808 Ahua Street Honolulu HI Hawaii Land and Easement — 3,279 — — 3,279 — 3,279 — 12/5/2003 — 173 812 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,960 25 628 2,613 — 2,613 — 12/5/2003 — 174 819 Ahua Street Honolulu HI Hawaii Land and Easement — 4,821 583 30 4,821 613 5,434 (230 ) 12/5/2003 — 175 822 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,795 15 — 1,795 15 1,810 (12 ) 12/5/2003 — 176 830 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,801 25 — 1,801 25 1,826 (20 ) 12/5/2003 — 177 841 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 3,265 — — 3,265 — 3,265 — 12/5/2003 — 178 842 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,795 14 — 1,795 14 1,809 (11 ) 12/5/2003 — 179 846 Ala Lilikoi Boulevard B Honolulu HI Hawaii Land and Easement — 234 — — 234 — 234 — 12/5/2003 — 180 848 Ala Lilikoi Boulevard A Honolulu HI Hawaii Land and Easement — 9,426 — — 9,426 — 9,426 — 12/5/2003 — 181 850 Ahua Street Honolulu HI Hawaii Land and Easement — 2,682 2 — 2,682 2 2,684 (2 ) 12/5/2003 — 182 852 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,801 — — 1,801 — 1,801 — 12/5/2003 — 183 855 Ahua Street Honolulu HI Hawaii Land and Easement — 1,834 — — 1,834 — 1,834 — 12/5/2003 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings and Subsequent to Buildings and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 184 865 Ahua Street Honolulu HI Hawaii Land and Easement — 1,846 — — 1,846 — 1,846 — 12/5/2003 — 185 889 Ahua Street Honolulu HI Hawaii Land and Easement — 5,888 315 — 5,888 315 6,203 (48 ) 11/21/2012 — 186 905 Ahua Street Honolulu HI Hawaii Land and Easement — 1,148 — — 1,148 — 1,148 — 12/5/2003 — 187 918 Ahua Street Honolulu HI Hawaii Land and Easement — 3,820 — — 3,820 — 3,820 — 12/5/2003 — 188 930 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 3,654 — — 3,654 — 3,654 — 12/5/2003 — 189 944 Ahua Street Honolulu HI Hawaii Land and Easement — 1,219 — — 1,219 — 1,219 — 12/5/2003 — 190 949 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 11,568 — — 11,568 — 11,568 — 12/5/2003 — 191 950 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,724 — — 1,724 — 1,724 — 12/5/2003 — 192 960 Ahua Street Honolulu HI Hawaii Land and Easement — 614 — — 614 — 614 — 12/5/2003 — 193 960 Mapunapuna Street Honolulu HI Hawaii Land and Easement — 1,933 — — 1,933 — 1,933 — 12/5/2003 — 194 970 Ahua Street Honolulu HI Hawaii Land and Easement — 817 — — 817 — 817 — 12/5/2003 — 195 91-027 Kaomi Loop Kapolei HI Hawaii Land and Easement — 2,667 — — 2,667 — 2,667 — 6/15/2005 — 196 91-064 Kaomi Loop Kapolei HI Hawaii Land and Easement — 1,826 — — 1,826 — 1,826 — 6/15/2005 — 197 91-080 Hanua Kapolei HI Hawaii Land and Easement — 2,187 — — 2,187 — 2,187 — 6/15/2005 — 198 91-083 Hanua Kapolei HI Hawaii Land and Easement — 716 — — 716 — 716 — 6/15/2005 — 199 91-086 Kaomi Loop Kapolei HI Hawaii Land and Easement — 13,884 — — 13,884 — 13,884 — 6/15/2005 — 200 91-087 Hanua Kapolei HI Hawaii Land and Easement — 381 — — 381 — 381 — 6/15/2005 — 201 91-091 Hanua Kapolei HI Hawaii Land and Easement — 552 — — 552 — 552 — 6/15/2005 — 202 91-102 Kaomi Loop Kapolei HI Hawaii Land and Easement — 1,599 — — 1,599 — 1,599 — 6/15/2005 — 203 91-110 Kaomi Loop Kapolei HI Hawaii Land and Easement — 1,293 — — 1,293 — 1,293 — 6/15/2005 — 204 91-119 Olai Kapolei HI Hawaii Land and Easement — 1,981 — — 1,981 — 1,981 — 6/15/2005 — 205 91-141 Kalaeloa Kapolei HI Hawaii Land and Easement — 11,624 — — 11,624 — 11,624 — 6/15/2005 — 206 91-150 Kaomi Loop Kapolei HI Hawaii Land and Easement — 3,159 — — 3,159 — 3,159 — 6/15/2005 — 207 91-171 Olai Kapolei HI Hawaii Land and Easement — 218 — 47 218 47 265 (17 ) 6/15/2005 — 208 91-174 Olai Kapolei HI Hawaii Land and Easement — 962 — 47 962 47 1,009 (16 ) 6/15/2005 — 209 91-175 Olai Kapolei HI Hawaii Land and Easement — 1,243 — 43 1,243 43 1,286 (17 ) 6/15/2005 — 210 91-185 Kalaeloa Kapolei HI Hawaii Land and Easement — 1,761 — — 1,761 — 1,761 — 6/15/2005 — 211 91-202 Kalaeloa Kapolei HI Hawaii Building — 1,722 — 326 1,722 326 2,048 (45 ) 6/15/2005 1964 212 91-210 Kauhi Kapolei HI Hawaii Land and Easement — 567 — — 567 — 567 — 6/15/2005 — 213 91-210 Olai Kapolei HI Hawaii Land and Easement — 706 — — 706 — 706 — 6/15/2005 — 214 91-218 Olai Kapolei HI Hawaii Land and Easement — 1,622 — 61 1,622 61 1,683 (17 ) 6/15/2005 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings and Subsequent to Buildings and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 215 91-220 Kalaeloa Kapolei HI Hawaii Building — 242 1,457 172 242 1,629 1,871 (537 ) 6/15/2005 1991 216 91-222 Olai Kapolei HI Hawaii Land and Easement — 2,035 — — 2,035 — 2,035 — 6/15/2005 — 217 91-238 Kauhi Kapolei HI Hawaii Building — 1,390 — 9,209 1,390 9,209 10,599 (2,606 ) 6/15/2005 1981 218 91-241 Kalaeloa Kapolei HI Hawaii Building — 426 3,983 838 426 4,821 5,247 (1,576 ) 6/15/2005 1990 219 91-250 Komohana Kapolei HI Hawaii Land and Easement — 1,506 — — 1,506 — 1,506 — 6/15/2005 — 220 91-252 Kauhi Kapolei HI Hawaii Land and Easement — 536 — — 536 — 536 — 6/15/2005 — 221 91-255 Hanua Kapolei HI Hawaii Land and Easement — 1,230 — 16 1,230 16 1,246 (1 ) 6/15/2005 — 222 91-259 Olai Kapolei HI Hawaii Land and Easement — 2,944 — — 2,944 — 2,944 — 6/15/2005 — 223 91-265 Hanua Kapolei HI Hawaii Land and Easement — 1,569 — — 1,569 — 1,569 — 6/15/2005 — 224 91-300 Hanua Kapolei HI Hawaii Land and Easement — 1,381 — — 1,381 — 1,381 — 6/15/2005 — 225 91-329 Kauhi Kapolei HI Hawaii Building — 294 2,297 2,433 294 4,730 5,024 (1,342 ) 6/15/2005 1980 226 91-349 Kauhi Kapolei HI Hawaii Land and Easement — 649 — — 649 — 649 — 6/15/2005 — 227 91-399 Kauhi Kapolei HI Hawaii Land and Easement — 27,405 — — 27,405 — 27,405 — 6/15/2005 — 228 91-400 Komohana Kapolei HI Hawaii Land and Easement — 1,494 — — 1,494 — 1,494 — 6/15/2005 — 229 91-410 Komohana Kapolei HI Hawaii Land and Easement — 418 — 12 418 12 430 (1 ) 6/15/2005 — 230 91-416 Komohana Kapolei HI Hawaii Land and Easement — 713 — 11 713 11 724 (1 ) 6/15/2005 — 231 AES HI Easement Kapolei HI Hawaii Land and Easement — 1,250 — — 1,250 — 1,250 — 6/15/2005 — 232 Other Easements & Lots Kapolei HI Hawaii Land and Easement — 358 — 1,395 358 1,395 1,753 (353 ) 6/15/2005 — 233 Tesaro 967 Easement Kapolei HI Hawaii Land and Easement — 6,593 — — 6,593 — 6,593 — 6/15/2005 — 234 Texaco Easement Kapolei HI Hawaii Land and Easement — 2,653 — — 2,653 — 2,653 — 6/15/2005 — 235 94-240 Pupuole Street Waipahu HI Hawaii Land and Easement — 717 — — 717 — 717 — 12/5/2003 — 236 5500 SE Delaware Avenue Ankeny IA Mainland Industrial — 2,200 16,994 1,007 2,707 17,494 20,201 (1,664 ) 1/29/2015 2012 237 951 Trails Road Eldridge IA Mainland Industrial — 470 7,480 874 470 8,354 8,824 (2,340 ) 4/2/2007 1994 238 2300 North 33rd Avenue East Newton IA Mainland Industrial — 500 13,236 395 500 13,631 14,131 (3,517 ) 9/29/2008 2008 239 7121 South Fifth Avenue Pocatello ID Mainland Industrial — 400 4,201 145 400 4,346 4,746 (419 ) 1/29/2015 2007 240 1230 West 171st Street Harvey IL Mainland Industrial — 800 1,673 — 800 1,673 2,473 (164 ) 1/29/2015 2004 241 5156 American Road Rockford IL Mainland Industrial — 400 1,529 82 400 1,611 2,011 (151 ) 1/29/2015 1996 242 17200 Manchac Park Lane Baton Rouge LA Mainland Industrial — 1,700 8,860 — 1,700 8,860 10,560 (868 ) 1/29/2015 2014 243 209 South Bud Street Lafayette LA Mainland Industrial — 700 4,549 9 700 4,558 5,258 (446 ) 1/29/2015 2010 244 4000 Principio Parkway North East MD Mainland Industrial — 4,200 71,518 650 4,200 72,168 76,368 (7,018 ) 1/29/2015 2012 245 16101 Queens Court Upper Marlboro MD Mainland Industrial — 5,296 21,833 — 5,296 21,833 27,129 (137 ) 9/28/2018 2016 246 3800 Midlink Drive Kalamazoo MI Mainland Industrial — 2,630 40,599 — 2,630 40,599 43,229 (3,975 ) 1/29/2015 2014 Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings and Subsequent to Buildings and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 247 2401 Cram Avenue SE Bemidji MN Mainland Industrial — 100 2,137 — 100 2,137 2,237 (209 ) 1/29/2015 2013 248 10100 89th Avenue N Maple Grove MN Mainland Industrial — 3,469 21,287 — 3,469 21,287 24,756 (89 ) 10/16/2018 2015 249 110 Stanbury Industrial Drive Brookfield MO Mainland Industrial — 200 1,859 — 200 1,859 2,059 (182 ) 1/29/2015 2012 250 628 Patton Avenue Asheville NC Mainland Industrial — 500 1,514 — 500 1,514 2,014 (148 ) 1/29/2015 1994 251 3900 NE 6th Street Minot ND Mainland Industrial — 700 3,223 — 700 3,223 3,923 (316 ) 1/29/2015 2013 252 1415 West Commerce Way Lincoln NE Mainland Industrial — 2,200 8,518 — 2,200 8,518 10,718 (834 ) 1/29/2015 1971 253 309 Dulty's Lane Burlington NJ Mainland Industrial — 1,600 51,400 — 1,600 51,400 53,000 (5,033 ) 1/29/2015 2001 254 725 Darlington Avenue Mahwah NJ Mainland Industrial — 8,492 9,451 1,047 8,492 10,498 18,990 (1,179 ) 4/9/2014 1999 255 2375 East Newlands Road Fernley NV Mainland Industrial — 1,100 17,314 286 1,100 17,600 18,700 (1,732 ) 1/29/2015 2007 256 55 Commerce Avenue Albany NY Mainland Industrial — 1,000 10,105 179 1,000 10,284 11,284 (1,012 ) 1/29/2015 2013 257 32150 Just Imagine Drive Avon OH Mainland Industrial — 2,200 23,280 — 2,200 23,280 25,480 (5,577 ) 5/29/2009 1996 258 1415 Industrial Drive Chillicothe OH Mainland Industrial — 1,200 3,265 — 1,200 3,265 4,465 (320 ) 1/29/2015 2012 259 5300 Centerpoint Parkway Groveport OH Mainland Industrial — 2,700 29,863 — 2,700 29,863 32,563 (2,924 ) 1/29/2015 2014 260 200 Orange Point Drive Lewis Center OH Mainland Industrial — 1,300 8,613 162 1,300 8,775 10,075 (849 ) 1/29/2015 2013 261 301 Commerce Drive South Point OH Mainland Industrial — 600 4,530 — 600 4,530 5,130 (444 ) 1/29/2015 2013 262 2820 State Highway 31 McAlester OK Mainland Industrial — 581 2,237 4,633 581 6,870 7,451 (365 ) 1/29/2015 2012 263 5 Logistics Drive Carlisle PA Mainland Industrial — 3,299 15,515 — 3,299 15,515 18,814 (97 ) 9/20/2018 2016 264 996 Paragon Way Rock Hill SC Mainland Industrial — 2,600 35,920 — 2,600 35,920 38,520 (3,517 ) 1/29/2015 2014 265 510 John Dodd Road Spartanburg SC Mainland Industrial — 3,300 57,998 42 3,300 58,040 61,340 (5,680 ) 1/29/2015 2012 266 4836 Hickory Hill Road Memphis TN Mainland Industrial — 1,402 10,769 750 1,402 11,519 12,921 (1,129 ) 12/23/2014 1984 267 2020 Joe B. Jackson Parkway Murfreesboro TN Mainland Industrial — 7,500 55,259 — 7,500 55,259 62,759 (5,411 ) 1/29/2015 2012 268 1095 South 4800 West Salt Lake City UT Mainland Industrial — 1,500 6,913 — 1,500 6,913 8,413 (677 ) 1/29/2015 2012 269 1901 Meadowville Technology Parkway Chester VA Mainland Industrial 49,195 4,000 67,511 — 4,000 67,511 71,511 (6,610 ) 1/29/2015 2012 270 181 Battaile Drive Winchester VA Mainland Industrial — 1,487 12,854 11 1,487 12,865 14,352 (4,086 ) 4/20/2006 1987 $ 49,195 $ 669,341 $ 751,735 $ 41,320 $ 670,501 $ 791,895 $ 1,462,396 $ (93,291 ) (1) Represents mortgage debt and includes the unamortized balance of the fair value adjustment totaling $ 445 . (2) Excludes value of real estate intangibles. (3) Depreciation on buildings and improvements is provided for periods ranging up to 40 years and on equipment up to seven years. (4) The total aggregate cost for U.S. federal income tax purposes is approximately $ 1,523,930 . INDUSTRIAL LOGISTICS PROPERTIES TRUST SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (CONTINUED) December 31, 2018 (dollars in thousands) Analysis of the carrying amount of real estate properties and accumulated depreciation: Real Estate Accumulated Properties Depreciation Balance at December 31, 2015 $ 1,335,363 $ (39,707 ) Additions 1,659 (17,563 ) Disposals (294 ) 294 Balance at December 31, 2016 1,336,728 (56,976 ) Additions 6,974 (17,738 ) Disposals (100 ) 100 Balance at December 31, 2017 1,343,602 (74,614 ) Additions 118,898 (18,781 ) Disposals (104 ) 104 Balance at December 31, 2018 $ 1,462,396 $ (93,291 ) |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation. These consolidated financial statements include the accounts of us and our subsidiaries, all of which are 100% owned directly or indirectly by us. All intercompany transactions and balances with or among our consolidated subsidiaries have been eliminated. The accounts of our Initial Properties are presented at SIR’s historical basis and are consolidated for prior periods presented as the transaction described in Note 1 has been accounted for as a reorganization of entities under common control in accordance with Financial Accounting Standards Board, or FASB, Accounting Standards Codification 805-50-30, Business Combinations . Substantially all of the rental income received from our tenants and SIR’s other tenants was deposited in and commingled with SIR’s general funds during the periods prior to January 17, 2018. Prior to January 17, 2018, general and administrative costs of SIR were primarily allocated to us based on the historical cost of our real estate investments as a percentage of SIR’s historical cost of all of its real estate investments. In accordance with applicable accounting guidance, we believe this method for allocating general and administrative expenses is reasonable. However, actual expenses may have been different from allocated expenses if we operated as a standalone company and those differences may be material. |
Real Estate Properties | Real Estate Properties. We record properties at our cost and have presented our Initial Properties at their historical cost basis. Our real estate investments in lands are not depreciated. We calculate depreciation on other real estate investments on a straight line basis over estimated useful lives generally ranging from seven to 40 years. We allocate the purchase prices of our properties to land, building and improvements based on determinations of the fair values of these assets assuming the properties are vacant. We determine the fair value of each property using methods similar to those used by independent appraisers. In some circumstances, we engage independent real estate appraisal firms to provide market information and evaluations which are relevant to our purchase price allocations and determinations of depreciable useful lives; however, we are ultimately responsible for the purchase price allocations and determinations of useful lives. We allocate a portion of the purchase price to above market and below market leases based on the present value (using an interest rate which reflects the risks associated with acquired in place leases at the time each property was acquired by us) of the difference, if any, between (i) the contractual amounts to be paid pursuant to the acquired in place leases and (ii) our estimates of fair market lease rates for the corresponding leases, measured over a period equal to the terms of the respective leases. The terms of below market leases that include bargain renewal options, if any, are further adjusted if we determine that renewal to be probable. We allocate a portion of the purchase price to acquired in place leases and tenant relationships based upon market estimates to lease up the property based on the leases in place at the time of purchase. In making these allocations, we consider factors such as estimated carrying costs during the expected lease up periods, including real estate taxes, insurance and other operating income and expenses and costs, such as leasing commissions, legal and other related expenses, to execute similar leases in current market conditions at the time a property was acquired by us. We allocate this aggregate value between acquired in place lease values and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease. However, we have not separated the value of tenant relationships from the value of acquired in place leases because such value and related amortization expense is immaterial to the accompanying consolidated financial statements. If the value of tenant relationships becomes material in the future, we may separately allocate those amounts and amortize the allocated amount over the estimated life of the relationships. We amortize capitalized above market lease values (included in acquired real estate leases in our consolidated balance sheets) and below market lease values (presented as assumed real estate lease obligations in our consolidated balance sheets) as a reduction or increase, respectively, to rental income over the terms of the associated leases. Such amortization resulted in increases in rental income of $ 401 , $ 390 and $403 during the years ended December 31, 2018 , 2017 and 2016 , respectively. We amortize the value of acquired in place leases (included in acquired real estate leases in our consolidated balance sheets), exclusive of the value of above market and below market acquired in place leases, or lease origination value, over the terms of the associated leases. Such amortization, which is included in depreciation and amortization expense, totaled $ 8,993 , $ 8,824 and $ 8,823 during the years ended December 31, 2018 , 2017 and 2016 , respectively. If a lease is terminated prior to its stated expiration, we write off the unamortized amounts relating to that lease. As of December 31, 2018 and 2017 , our acquired real estate leases and assumed real estate lease obligations were as follows: December 31, 2018 2017 Acquired real estate leases: Capitalized above market lease values $ 28,723 $ 30,104 Less: accumulated amortization (16,726 ) (16,440 ) Capitalized above market lease values, net 11,997 13,664 Lease origination value 99,727 93,646 Less: accumulated amortization (35,921 ) (28,207 ) Lease origination value, net 63,806 65,439 Acquired real estate leases, net $ 75,803 $ 79,103 Assumed real estate lease obligations: Capitalized below market lease values $ 34,313 $ 34,786 Less: accumulated amortization (15,997 ) (14,402 ) Assumed real estate lease obligations, net $ 18,316 $ 20,384 As of December 31, 2018 , the weighted average amortization periods for capitalized above market lease values, lease origination value and capitalized below market lease values were 11.7 years, 8.8 years, and 14.1 years, respectively. Future amortization of net intangible acquired real estate lease assets and liabilities to be recognized over the current terms of the associated leases as of December 31, 2018 are estimated to be $ 7,805 in 2019, $ 7,797 in 2020, $ 7,725 in 2021, $ 7,538 in 2022, $ 7,279 in 2023 and $ 19,343 thereafter. We recognize impairment losses on real estate investments when indicators of impairment are present and the estimated undiscounted cash flow from our real estate investments is less than the carrying amount of such real estate investments. Impairment indicators may include declining tenant occupancy, lack of progress releasing vacant space, tenant bankruptcies, low long term prospects for improvement in property performance, weak or declining tenant profitability, cash flow or liquidity, our decision to dispose of an asset before the end of its estimated useful life and legislative, market or industry changes that could permanently reduce the value of a property. We review our properties for impairment quarterly, or whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. If indicators of impairment are present, we evaluate the carrying value of the related property by comparing it to the expected future undiscounted cash flows expected to be generated from that property. If the sum of these expected future undiscounted cash flows is less than the carrying value, we reduce the net carrying value of the property to its estimated fair value. The determination of undiscounted cash flow includes consideration of many factors including income to be earned from the investment, holding costs (exclusive of interest), estimated selling prices, and prevailing economic and market conditions. No impairments exist on any of our properties as of December 31, 2018 and 2017 . We believe some of our properties may contain asbestos. We believe any asbestos on our properties is contained in accordance with applicable laws and regulations and we have no current plans to remove it. If we removed the asbestos or renovated or demolished the affected properties, certain environmental regulations govern the manner in which the asbestos must be handled and removed, and we could incur substantial costs complying with such regulations. Due to the uncertainty of the timing and amount of costs we may incur, we cannot reasonably estimate such costs and we have not recognized a liability in our consolidated financial statements for these costs. Certain of our industrial lands in Hawaii may require environmental remediation, especially if the use of those lands is changed; however, we do not have any present plans to change the use of those lands or to undertake this environmental cleanup. As of December 31, 2018 and 2017 , accrued environmental remediation costs of $ 6,940 and $ 7,002 , respectively, were included in accounts payable and other liabilities in our consolidated balance sheets. These accrued environmental remediation costs relate to maintenance of our properties for current uses, and, because of the indeterminable timing of the remediation, these amounts have not been discounted to present value. In general, we do not have any insurance designated to limit any losses that we may incur as a result of known or unknown environmental conditions which are not caused by an insured event, such as, for example, fire or flood, although some of our tenants may maintain such insurance that may benefit us. Although we do not believe that there are environmental conditions at any of our properties that will have a material adverse effect on us, we cannot be sure that such conditions are not present at our properties or that costs we incur to remediate contamination will not have a material adverse effect on our business or financial condition. Charges for environmental remediation costs, if any, are included in other operating expenses in our consolidated statements of comprehensive income. Capitalization Policy. Costs directly related to the development of properties are capitalized. We capitalize development costs, including interest, real estate taxes, insurance, and other project costs, incurred during the period of development. Determinations of when a development project commences and capitalization begins, and when a development project is substantially complete and held available for occupancy and capitalization must cease, involve judgments. We begin the capitalization of costs during the pre-construction period, which we consider to begin when activities that are necessary to the development of the property commence. We consider a development project as substantially completed and held available for occupancy upon the completion of tenant improvements, but no later than one year from cessation of major construction activity. |
Deferred Leasing Costs | Deferred Leasing Costs. Deferred leasing costs include capitalized brokerage, legal and other fees associated with the successful negotiation of leases, which are amortized to depreciation and amortization expense on a straight line basis over the terms of the respective leases. |
Debt Issuance Costs | Debt Issuance Costs. Debt issuance costs include capitalized issuance costs related to borrowings, which are amortized to interest expense over the terms of the respective loans. |
Other Assets | Other Assets. Other assets consist of our investment in Affiliates Insurance Company, or AIC, prepaid insurance and prepaid real estate taxes. As of December 31, 2017, other assets also included costs related to our formation and preparation for our IPO. We acquired shares of common stock of AIC from SIR on December 31, 2018 for $8,632 . We own a 14.3% ownership interest in AIC. We account for our investment in AIC using the equity method of accounting. Significant influence is present through common representation on the boards of trustees or directors of us and AIC. One of our Managing Trustees, Adam D. Portnoy, as the sole trustee of ABP Trust, is the controlling shareholder of The RMR Group Inc., or RMR Inc. RMR Inc. is the managing member of our manager, The RMR Group LLC, or RMR LLC. Mr. Portnoy is also a managing director and president and chief executive officer of RMR Inc. and an officer and employee of RMR LLC. John G. Murray, our other Managing Trustee and our President and Chief Executive Officer, is also an officer and employee of RMR LLC. RMR LLC also provides management and administrative services to AIC, and most of our Trustees are directors of AIC. See Note 7 for further information regarding our investments in RMR Inc. and AIC. |
Revenue Recognition | Revenue Recognition. Rental income from operating leases is recognized on a straight line basis over the lives of lease agreements. We defer the recognition of contingent rental income, such as percentage rents, until the specific targets that trigger the contingent rental income are achieved. Contingent rental income recognized for the years ended December 31, 2018 , 2017 and 2016 totaled $ 941 , $ 650 and $ 846 , respectively. Tenant reimbursements and other income include property level operating expenses and capital expenditures reimbursed by our tenants as well as other incidental revenues. Certain tenants are obligated to pay directly their obligations under their leases for insurance, real estate taxes and certain other expenses. These costs, which have been assumed by the tenants under the terms of their respective leases, are not reflected in our consolidated financial statements. To the extent any tenant responsible for these costs under their respective lease defaults on its lease or if it is deemed probable that the tenant will fail to pay for such costs, we would record a liability for such obligation. |
Allowance for Doubtful Accounts | Allowance for Doubtful Accounts. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability or unwillingness of certain tenants to make payments required under their leases. The computation of the allowance is based on the tenants’ payment histories and current credit profiles, as well as other considerations. |
Income Taxes | Income Taxes. Until January 17, 2018, we were a wholly owned subsidiary of SIR, which was taxed as a REIT under the Internal Revenue Code of 1986, as amended, or the IRC. Accordingly, until January 17, 2018, we were a qualified REIT subsidiary and a disregarded entity for tax purposes. We intend to qualify for taxation as a REIT under the IRC for U.S. federal income tax purposes commencing with our taxable year ended December 31, 2018 and to maintain such qualification thereafter. Accordingly, we generally are not, and will not be, subject to U.S. federal income taxes provided we distribute our taxable income and meet certain other requirements to qualify for taxation as a REIT. We may, however, be subject to certain state and local taxes. |
Use of Estimates | Use of Estimates. Preparation of these financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires us to make estimates and assumptions that may affect the amounts reported in these consolidated financial statements and related notes. The actual results could differ from these estimates. Significant estimates in the consolidated financial statements include the allowance for doubtful accounts, purchase price allocations, useful lives of fixed assets and the assessments of the carrying values and impairments of long lived assets. |
Ownership Interest | Interest. For the periods prior to January 17, 2018, our investment activities were financed by SIR. Amounts invested in or advanced to us did not carry interest and had no specific repayment terms. |
Net Income Per Common Share | Net Income Per Common Share. We calculate basic earnings per common share by dividing net income by the weighted average number of common shares outstanding during the period. We calculate diluted net income per share using the more dilutive of the two class method or the treasury stock method. |
Segment Reporting | Segment Reporting. We operate in one business segment: ownership and leasing of properties that include industrial and logistics buildings and leased industrial lands. |
Reclassifications | Reclassifications. Reclassifications have been made to the prior years' consolidated financial statements to conform to the current year's presentation. For the year ended December 31, 2017, we reclassified $1,724 from other assets to deferred issuance costs, net, in our consolidated balance sheets. |
New Accounting Pronouncements | New Accounting Pronouncements. On January 1, 2018, we adopted FASB Accounting Standards Update, or ASU, No. 2014-09 (and related clarifying guidance issued by the FASB), Revenue From Contracts With Customers , which outlines a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. ASU No. 2014-09 states that “an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” A substantial portion of our revenue consists of rental income from leasing arrangements, which is specifically excluded from ASU No. 2014-09. We have adopted ASU No. 2014-09 using the modified retrospective approach. The adoption of ASU No. 2014-09 did not have a material impact on the amount or timing of our revenue recognition in our consolidated financial statements. On October 1, 2018, we adopted FASB ASU No. 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting , which aligns the measurement and classification guidance for share based payments to nonemployees with the guidance for share based payments to employees, with certain exceptions. The adoption of this standard did not have a material impact in our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases . In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases and ASU No. 2018-11, Leases (Topic 842): Targeted Improvements . In December 2018, the FASB issued ASU No. 2018-20 Leases (Topic 842), Narrow-Scope Improvements for Lessors . Collectively, these standards set out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). ASU No. 2016-02 requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales type leases, direct financing leases and operating leases. These standards are effective as of January 1, 2019. Upon adoption, we applied the package of practical expedients that allows an entity to not reassess (i) whether any expired or existing contracts are or contain leases, (ii) lease classification for any expired or existing leases and (iii) initial direct costs for any expired or existing leases. Furthermore, we applied the optional transition method in ASU No. 2018-11, which allows entities to initially apply the new leases standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption, if any. Additionally, our leases met the criteria in ASU No. 2018-11 to not separate non-lease components from the related lease component; therefore, the accounting for these leases remained largely unchanged from the previous standard. The adoption of ASU No. 2016-02 and the related improvements did not have a material impact in our consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires that entities use a new forward looking “expected loss” model that generally will result in the earlier recognition of allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU No. 2016-13 will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently assessing the potential impact the adoption of ASU No. 2016-13 will have in our consolidated financial statements. We currently expect to adopt the standard using the modified retrospective approach. |
Fair Value Measurement | We estimate the fair value of our mortgage note payable using a discounted cash flow analysis and currently prevailing market rates as of the measurement date (Level 3 inputs). Because Level 3 inputs are unobservable, our estimated fair value may differ materially from the actual fair value. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Schedule of acquired real estate leases and assumed real estate lease obligations | As of December 31, 2018 and 2017 , our acquired real estate leases and assumed real estate lease obligations were as follows: December 31, 2018 2017 Acquired real estate leases: Capitalized above market lease values $ 28,723 $ 30,104 Less: accumulated amortization (16,726 ) (16,440 ) Capitalized above market lease values, net 11,997 13,664 Lease origination value 99,727 93,646 Less: accumulated amortization (35,921 ) (28,207 ) Lease origination value, net 63,806 65,439 Acquired real estate leases, net $ 75,803 $ 79,103 Assumed real estate lease obligations: Capitalized below market lease values $ 34,313 $ 34,786 Less: accumulated amortization (15,997 ) (14,402 ) Assumed real estate lease obligations, net $ 18,316 $ 20,384 |
Real Estate Properties (Tables)
Real Estate Properties (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Real Estate [Abstract] | |
Schedule of real estate properties | We allocated the purchase prices of these acquisitions based on the estimated fair values of the acquired assets as follows: Number Rentable Acquired of Square Purchase Buildings and Real Estate Date Location Properties Feet Price Land Improvements Leases June 2018 Doral, FL (1) 1 240,283 $ 43,326 $ 15,225 $ 28,101 $ — September 2018 Carlisle, PA 1 205,090 20,451 3,299 15,515 1,637 September 2018 Upper Marlboro, MD 1 220,800 29,801 5,296 21,833 2,672 October 2018 Maple Grove, MN 1 319,062 27,807 3,469 21,287 3,051 4 985,235 $ 121,385 $ 27,289 $ 86,736 $ 7,360 (1) This property was acquired and simultaneously leased back to the seller. |
Schedule of future minimum lease payments scheduled to be received during the current terms of the existing leases | The future minimum lease payments scheduled to be received by us during the current terms of our leases as of December 31, 2018 are as follows: Minimum Lease Year Payment 2019 $ 140,363 2020 139,440 2021 137,814 2022 132,124 2023 113,443 Thereafter 994,544 $ 1,657,728 |
Indebtedness (Tables)
Indebtedness (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of outstanding indebtedness | As of December 31, 2018 and 2017 , our outstanding indebtedness consisted of the following: December 31, 2018 2017 Revolving credit facility, due in 2021 (1) $ 413,000 $ 750,000 Mortgage note payable, 3.99%, due in 2020 (2) 48,750 48,750 Unamortized debt premiums 445 677 Carrying value $ 462,195 $ 799,427 (1) We repaid certain amounts outstanding under our revolving credit facility on January 17, 2018 with part of the $444,309 of net proceeds from our IPO. Upon completion of our IPO, the maturity date of our revolving credit facility was extended to December 29, 2021 and we have the option to extend the maturity date for two, six month periods through December 29, 2022. (2) We assumed this mortgage note in connection with our acquisition of a property. The stated interest rate for this mortgage debt is the contractually stated rate; we recorded the assumed mortgage note at estimated fair value on the date of acquisition. We amortize the fair value premium to interest expense over the respective term of the mortgage note to reduce interest expense to the estimated market interest rate as of the date of acquisition. |
Schedule of the principal payments due under the outstanding debt | The required principal payments due during the next five years and thereafter under all our outstanding debt as of December 31, 2018 are as follows: Principal Year Payment 2019 $ — 2020 48,750 2021 413,000 2022 — 2023 — Thereafter — $ 461,750 (1) (1) Total debt outstanding as of December 31, 2018 , including unamortized debt premiums, was $ 462,195 . |
Fair Value of Assets and Liab_2
Fair Value of Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of carrying value and the estimated fair market value of mortgage notes payable | At December 31, 2018 and 2017 , the fair value of our financial instruments approximated their carrying values in our consolidated financial statements, due to the short term nature of floating interest rates, except as follows: At December 31, 2018 At December 31, 2017 Carrying Estimated Carrying Estimated Value (1) Fair Value Value (1) Fair Value Mortgage note payable $ 49,195 $ 48,642 $ 49,427 $ 48,919 (1) Includes unamortized premiums of $445 and $677 as of December 31, 2018 and 2017 , respectively. |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of shares granted and vested under the terms of the 2018 Plan | A summary of shares granted, vested and forfeited under the terms of the 2018 Plan for the year ended December 31, 2018 is as follows: Weighted Average Number Grant Date of Shares Fair Value 2018 Activity: Granted 77,400 $ 22.60 Vested (33,880 ) $ 21.64 Forfeited (240 ) $ 23.33 Unvested shares at December 31, 2018 43,280 $ 23.33 |
Summary of distributions paid on common shares | During the year ended December 31, 2018 , we paid distributions on our common shares as follows: Declaration Record Paid Distributions Total Date Date Date Per Share Distributions 4/19/2018 4/30/2018 5/14/2018 $ 0.27 $ 17,551 7/19/2018 7/30/2018 8/13/2018 0.33 21,457 10/18/2018 10/29/2018 11/12/2018 0.33 21,474 $ 0.93 $ 60,482 |
Selected Quarterly Financial _2
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Selected Quarterly Financial Information [Abstract] | |
Summary of unaudited quarterly results of operations | The following is a summary of our unaudited quarterly results of operations for 2018 and 2017 : 2018 First Second Third Fourth Quarter Quarter Quarter Quarter Total revenues $ 40,605 $ 39,420 $ 40,431 $ 42,074 Net income $ 19,232 $ 18,726 $ 18,142 $ 18,288 Net income per common share—basic and diluted $ 0.31 $ 0.29 $ 0.28 $ 0.28 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Total revenues $ 39,440 $ 38,605 $ 39,066 $ 39,395 Net income $ 20,356 $ 21,575 $ 22,903 $ 15,269 Net income per common share—basic and diluted $ 0.45 $ 0.48 $ 0.51 $ 0.34 |
Organization - Narative (Detail
Organization - Narative (Details) | Jan. 17, 2018USD ($)ft²propertyshares | Sep. 30, 2017USD ($)propertynote | Sep. 29, 2017USD ($)ft²statepropertynote$ / sharesshares | Dec. 31, 2017USD ($)property$ / sharesshares | Dec. 31, 2018USD ($)ft²stateproperty$ / sharesshares | Dec. 27, 2018shares | Dec. 29, 2017USD ($) |
Subsidiary, Sale of Stock [Line Items] | |||||||
Number of properties owned | property | 266 | 266 | 270 | ||||
Net rentable area | ft² | 28,540,000 | 28,540,000 | 29,535,000 | ||||
Common shares, shares issued (in shares) | shares | 45,000,000 | 65,074,791 | |||||
Common shares, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | ||||
Debt assumed on acquisition | $ 461,750,000 | ||||||
HAWAII | |||||||
Subsidiary, Sale of Stock [Line Items] | |||||||
Number of properties owned | property | 226 | 226 | |||||
Net rentable area | ft² | 16,834,000 | 16,834,000 | |||||
Other States | |||||||
Subsidiary, Sale of Stock [Line Items] | |||||||
Number of properties owned | property | 40 | 44 | |||||
Net rentable area | ft² | 11,706,000 | 12,701,000 | |||||
Number of states where real estate is located | state | 24 | 25 | |||||
Affiliated Entity | |||||||
Subsidiary, Sale of Stock [Line Items] | |||||||
Common shares, shares issued (in shares) | shares | 45,000,000 | ||||||
Revolving Credit Facility | |||||||
Subsidiary, Sale of Stock [Line Items] | |||||||
Maximum borrowing capacity of revolving credit facility | $ 750,000,000 | $ 750,000,000 | $ 750,000,000 | ||||
Debt assumed on acquisition | $ 750,000,000 | $ 413,000,000 | |||||
Revolving Credit Facility | Affiliated Entity | |||||||
Subsidiary, Sale of Stock [Line Items] | |||||||
Maximum borrowing capacity of revolving credit facility | $ 750,000,000 | ||||||
Mortgages | |||||||
Subsidiary, Sale of Stock [Line Items] | |||||||
Number of instruments assumed | note | 3 | 3 | |||||
Debt assumed on acquisition | $ 63,069,000 | $ 63,069,000 | |||||
Number of properties used as collateral | property | 3 | 3 | 2 | ||||
IPO | |||||||
Subsidiary, Sale of Stock [Line Items] | |||||||
Common shares issued (in shares) | shares | 20,000,000 | ||||||
Industrial Logistics Properties Trust | Select Income REIT | |||||||
Subsidiary, Sale of Stock [Line Items] | |||||||
Common shares, shares issued (in shares) | shares | 45,000,000 | 45,000,000 | 45,000,000 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Real Estate Properties (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||
2,019 | $ 7,805,000 | ||
2,020 | $ 7,797,000 | ||
2,021 | 7,725,000 | ||
2,022 | 7,538,000 | ||
2,023 | 7,279,000 | ||
Thereafter | 19,343,000 | ||
Real estate impairment | 0 | 0 | |
Accrued environmental remediation cost | $ 6,940,000 | 7,002,000 | |
Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful lives | 7 years | ||
Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful lives | 40 years | ||
Increases in rental income | $ 401,000 | 390,000 | $ 403,000 |
Amortization of the value of acquired in place leases | $ 8,993,000 | $ 8,824,000 | $ 8,823,000 |
Weighted Average | |||
Property, Plant and Equipment [Line Items] | |||
Amortization period of capitalized below market lease values | 14 years 1 month 6 days | ||
Above market lease | Weighted Average | |||
Property, Plant and Equipment [Line Items] | |||
Amortization periods for capitalized above market lease and lease origination values | 11 years 8 months 12 days | ||
Acquired Real Estate Leases | Weighted Average | |||
Property, Plant and Equipment [Line Items] | |||
Amortization periods for capitalized above market lease and lease origination values | 8 years 9 months 18 days |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Acquired Real Estate Leases and Assumed Real Estate Lease Obligations (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Acquired real estate leases: | ||
Acquired real estate leases, net | $ 75,803 | $ 79,103 |
Assumed real estate lease obligations: | ||
Capitalized below market lease values | 34,313 | 34,786 |
Less: accumulated amortization | (15,997) | (14,402) |
Assumed real estate lease obligations, net | 18,316 | 20,384 |
Above market lease | ||
Acquired real estate leases: | ||
Acquired real estate leases, gross | 28,723 | 30,104 |
Less: accumulated amortization | (16,726) | (16,440) |
Acquired real estate leases, net | 11,997 | 13,664 |
Acquired Real Estate Leases | ||
Acquired real estate leases: | ||
Acquired real estate leases, gross | 99,727 | 93,646 |
Less: accumulated amortization | (35,921) | (28,207) |
Acquired real estate leases, net | $ 63,806 | $ 65,439 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Deferred Leasing Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Accounting Policies [Abstract] | ||
Deferred leasing costs | $ 9,845 | $ 8,379 |
Accumulated amortization of deferred leasing costs | 3,688 | $ 3,125 |
Estimated cost of lease under negotiation | 24 | |
Future amortization of deferred leasing costs to be recognized during the current terms of the existing leases | ||
2,019 | 836 | |
2,020 | 757 | |
2,021 | 673 | |
2,022 | 552 | |
2,023 | 386 | |
Thereafter | $ 2,953 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Debt Issuance Costs (Details) - USD ($) | Jan. 31, 2019 | Jan. 29, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||||
Debt issuance costs, line of credit | $ 5,907,000 | $ 1,724,000 | ||
Debt issuance costs, accumulated amortization | 1,477,000 | $ 0 | ||
Future amortization expense of debt issuance costs, 2019 | 1,618,000 | |||
Future amortization expense of debt issuance costs, 2020 | 1,618,000 | |||
Future amortization expense of debt issuance costs, 2021 | 1,618,000 | |||
Future amortization expense of debt issuance costs, 2022 | 142,000 | |||
Future amortization expense of debt issuance costs, 2023 | 142,000 | |||
Future amortization expense of debt issuance costs, Thereafter | 705,000 | |||
Loans Payable | Mortgage Loan 2019 | ||||
Debt Instrument [Line Items] | ||||
Debt issuance cost, mortgage loan | $ 1,413,000 | |||
Subsequent Event | Loans Payable | Mortgage Loan 2019 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, face amount | $ 650,000,000 | $ 650,000,000 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Other Assets (Details) - AIC $ in Thousands | Dec. 31, 2018USD ($) |
Schedule of Equity Method Investments [Line Items] | |
Cost to acquire shares | $ 8,632 |
Ownership interest | 14.30% |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accounting Policies [Abstract] | |||
Contingent rental income recognized | $ 941 | $ 650 | $ 846 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Segment (Details) | 12 Months Ended |
Dec. 31, 2018segment | |
Accounting Policies [Abstract] | |
Number of business segments | 1 |
Summary of Significant Accou_11
Summary of Significant Accounting Policies - Reclassifications (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||
Adjustment to Debt issuance costs, net | $ 4,430 | $ 1,724 |
Adjustments to other assets, net | $ (11,178) | (4,942) |
Scenario, Adjustment | ||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||
Adjustment to Debt issuance costs, net | 1,724 | |
Adjustments to other assets, net | $ 1,724 |
Real Estate Properties - Narrat
Real Estate Properties - Narrative (Details) $ in Thousands | Feb. 14, 2019property | Jan. 13, 2017USD ($)ft²property | Feb. 20, 2019USD ($)ft²statepropertytenant | Oct. 31, 2018USD ($) | Dec. 31, 2018USD ($)ft²stateproperty | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2018USD ($)ft²statepropertysegment | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Oct. 26, 2018ft² | Jan. 17, 2018ft²property | Sep. 29, 2017ft²stateproperty |
Real Estate Properties | ||||||||||||||||||
Number of properties owned | property | 270 | 270 | 266 | 266 | ||||||||||||||
Net rentable area | ft² | 29,535,000 | 29,535,000 | 28,540,000 | 28,540,000 | ||||||||||||||
Number of business segments | segment | 1 | |||||||||||||||||
Total revenues | $ 42,074 | $ 40,431 | $ 39,420 | $ 40,605 | $ 39,395 | $ 39,066 | $ 38,605 | $ 39,440 | $ 162,530 | $ 156,506 | $ 153,310 | |||||||
Commitments related to tenant improvements and leasing costs | $ 2,613 | |||||||||||||||||
Square feet of committed expenditures related to tenant improvements and leasing costs | ft² | 2,630,000 | |||||||||||||||||
Committed but unspent tenant related obligations | $ 472 | $ 472 | ||||||||||||||||
HAWAII | ||||||||||||||||||
Real Estate Properties | ||||||||||||||||||
Number of properties owned | property | 226 | 226 | 226 | |||||||||||||||
Net rentable area | ft² | 16,834,000 | 16,834,000 | 16,834,000 | |||||||||||||||
Other States | ||||||||||||||||||
Real Estate Properties | ||||||||||||||||||
Number of properties owned | property | 44 | 44 | 40 | |||||||||||||||
Net rentable area | ft² | 12,701,000 | 12,701,000 | 11,706,000 | |||||||||||||||
Number of states where real estate is located | state | 25 | 25 | 24 | |||||||||||||||
Ankeny, IA | ||||||||||||||||||
Real Estate Properties | ||||||||||||||||||
Net rentable area | ft² | 194,000 | |||||||||||||||||
Purchase price | $ 450 | |||||||||||||||||
McAlester, OK | ||||||||||||||||||
Real Estate Properties | ||||||||||||||||||
Purchase price | $ 281 | |||||||||||||||||
Real estate, acquisition costs | $ 55 | |||||||||||||||||
Number of properties | property | 1 | |||||||||||||||||
Real estate property expansion, square feet | ft² | 35,000 | |||||||||||||||||
Geographic Concentration Risk | Sales Revenue, Net | HAWAII | ||||||||||||||||||
Real Estate Properties | ||||||||||||||||||
Percentage of revenues | 59.70% | 60.20% | 59.50% | |||||||||||||||
Two Subsidiaries Of Amazon, Inc. | ||||||||||||||||||
Real Estate Properties | ||||||||||||||||||
Total revenues | $ 16,047 | $ 15,938 | $ 16,063 | |||||||||||||||
Subsequent Event | Indianapolis and Cincinnati | ||||||||||||||||||
Real Estate Properties | ||||||||||||||||||
Net rentable area | ft² | 4,202,000 | |||||||||||||||||
Purchase price | $ 280,000 | |||||||||||||||||
Number of properties | property | 7 | 8 | ||||||||||||||||
Number of tenants | tenant | 10 | |||||||||||||||||
Subsequent Event | Twelve States [Member] | ||||||||||||||||||
Real Estate Properties | ||||||||||||||||||
Net rentable area | ft² | 8,694,000 | |||||||||||||||||
Number of states where real estate is located | state | 12 | |||||||||||||||||
Purchase price | $ 625,300 | |||||||||||||||||
Mortgage debt | $ 57,000 | |||||||||||||||||
Number of properties | property | 18 | |||||||||||||||||
Number of tenants | tenant | 13 | |||||||||||||||||
Office and Industrial Properties | ||||||||||||||||||
Real Estate Properties | ||||||||||||||||||
Net rentable area | ft² | 985,235 | 985,235 | ||||||||||||||||
Purchase price | $ 121,385 | |||||||||||||||||
Real estate, acquisition costs | $ 1,360 | |||||||||||||||||
Number of properties | property | 4 |
Real Estate Properties - Proper
Real Estate Properties - Property Acquisitions (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | |||||
Oct. 31, 2018USD ($)ft²property | Sep. 30, 2018USD ($)ft²property | Jun. 30, 2018USD ($)ft²property | Dec. 31, 2018USD ($)ft²property | Jan. 17, 2018ft² | Dec. 31, 2017USD ($) | Sep. 29, 2017ft² | |
Real Estate [Line Items] | |||||||
Net rentable area | ft² | 29,535,000 | 28,540,000 | 28,540,000 | ||||
Land | $ 670,501 | $ 642,706 | |||||
Buildings and improvements | 791,895 | 700,896 | |||||
Acquired real estate leases | $ 75,803 | 79,103 | |||||
Office and Industrial Properties | |||||||
Real Estate [Line Items] | |||||||
Number of properties | property | 4 | ||||||
Net rentable area | ft² | 985,235 | ||||||
Purchase price | $ 121,385 | ||||||
Land | 27,289 | ||||||
Buildings and improvements | 86,736 | ||||||
Acquired real estate leases | 7,360 | ||||||
Doral, FL | Office and Industrial Properties | |||||||
Real Estate [Line Items] | |||||||
Number of properties | property | 1 | ||||||
Net rentable area | ft² | 240,283 | ||||||
Purchase price | $ 43,326 | ||||||
Land | 15,225 | ||||||
Buildings and improvements | 28,101 | ||||||
Carlisle PA | Office and Industrial Properties | |||||||
Real Estate [Line Items] | |||||||
Number of properties | property | 1 | ||||||
Net rentable area | ft² | 205,090 | ||||||
Purchase price | $ 20,451 | ||||||
Land | 3,299 | ||||||
Buildings and improvements | $ 15,515 | ||||||
Upper Marlboro, MD | Office and Industrial Properties | |||||||
Real Estate [Line Items] | |||||||
Number of properties | property | 1 | ||||||
Net rentable area | ft² | 220,800 | ||||||
Purchase price | $ 29,801 | ||||||
Land | 5,296 | ||||||
Buildings and improvements | 21,833 | ||||||
Maple Grove, MN | Office and Industrial Properties | |||||||
Real Estate [Line Items] | |||||||
Number of properties | property | 1 | ||||||
Net rentable area | ft² | 319,062 | ||||||
Purchase price | $ 27,807 | ||||||
Land | 3,469 | ||||||
Buildings and improvements | 21,287 | ||||||
Acquired Real Estate Leases | |||||||
Real Estate [Line Items] | |||||||
Acquired real estate leases | $ 63,806 | $ 65,439 | |||||
Acquired Real Estate Leases | Doral, FL | Office and Industrial Properties | |||||||
Real Estate [Line Items] | |||||||
Acquired real estate leases | $ 0 | ||||||
Acquired Real Estate Leases | Carlisle PA | Office and Industrial Properties | |||||||
Real Estate [Line Items] | |||||||
Acquired real estate leases | 1,637 | ||||||
Acquired Real Estate Leases | Upper Marlboro, MD | Office and Industrial Properties | |||||||
Real Estate [Line Items] | |||||||
Acquired real estate leases | $ 2,672 | ||||||
Acquired Real Estate Leases | Maple Grove, MN | Office and Industrial Properties | |||||||
Real Estate [Line Items] | |||||||
Acquired real estate leases | $ 3,051 |
Real Estate Properties - Future
Real Estate Properties - Future Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Real Estate [Abstract] | |
2,019 | $ 140,363 |
2,020 | 139,440 |
2,021 | 137,814 |
2,022 | 132,124 |
2,023 | 113,443 |
Thereafter | 994,544 |
Total | $ 1,657,728 |
Indebtedness - Summary of Outst
Indebtedness - Summary of Outstanding Indebtedness (Details) - USD ($) $ in Thousands | Jan. 17, 2018 | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | |||
Long-term debt, gross | $ 461,750 | ||
Unamortized debt premiums | 445 | $ 677 | |
Carrying value | 462,195 | 799,427 | |
Mortgage note payable, 3.99%, due in 2020 | |||
Debt Instrument [Line Items] | |||
Long-term debt, gross | $ 48,750 | 48,750 | |
Interest rate (as a percent) | 3.99% | ||
Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Long-term debt, gross | $ 413,000 | $ 750,000 | |
Repayments of outstanding revolving credit facility | $ 444,309 |
Indebtedness - Narrative (Detai
Indebtedness - Narrative (Details) ft² in Millions | Jan. 29, 2019USD ($)ft²propertybuilding | Dec. 31, 2017USD ($) | Feb. 19, 2019USD ($) | Jan. 31, 2019USD ($) | Dec. 31, 2018USD ($)property | Jan. 17, 2018USD ($) | Dec. 29, 2017USD ($) |
Debt Instrument [Line Items] | |||||||
Amount outstanding on revolving credit facility | $ 750,000,000 | $ 413,000,000 | |||||
Mortgage note payable | 49,427,000 | $ 49,195,000 | |||||
Number of properties that are securing mortgage note | property | 1 | ||||||
Net book value of property, securing mortgage note | $ 64,901,000 | ||||||
Subsequent Event | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity of revolving credit facility | $ 750,000,000 | ||||||
Number of properties that are securing mortgage note | property | 186 | ||||||
Amount of square feet of property, securing mortgage note | ft² | 9.6 | ||||||
Net book value of property, securing mortgage note | $ 492,620,000 | ||||||
Mortgage Note Payable 3.99 Percent Due 2020 | |||||||
Debt Instrument [Line Items] | |||||||
Mortgage note payable | $ 48,750,000 | ||||||
Interest rate (as a percent) | 3.99% | ||||||
Revolving Credit Facility | |||||||
Debt Instrument [Line Items] | |||||||
Maximum borrowing capacity of revolving credit facility | $ 750,000,000 | $ 750,000,000 | $ 750,000,000 | ||||
Line of credit maximum increase capacity | $ 1,500,000,000 | ||||||
Interest rate at period end | 2.89% | 3.81% | |||||
Interest rate during period | 3.33% | ||||||
Amount outstanding on revolving credit facility | $ 413,000,000 | ||||||
Remaining borrowing capacity on revolving credit facility | $ 337,000,000 | ||||||
Revolving Credit Facility | Subsequent Event | |||||||
Debt Instrument [Line Items] | |||||||
Amount outstanding on revolving credit facility | $ 60,000,000 | ||||||
Remaining borrowing capacity on revolving credit facility | $ 690,000,000 | ||||||
Loans Payable | Mortgage Loan 2019 | Subsequent Event | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, face amount | $ 650,000,000 | $ 650,000,000 | |||||
Interest rate (as a percent) | 4.31% | ||||||
London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 1.30% | ||||||
Land | Subsequent Event | |||||||
Debt Instrument [Line Items] | |||||||
Number of properties that are securing mortgage note | property | 178 | ||||||
Building | Subsequent Event | |||||||
Debt Instrument [Line Items] | |||||||
Number of properties that are securing mortgage note | building | 8 |
Indebtedness - Summary of Futur
Indebtedness - Summary of Future Indebtedness Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Disclosure [Abstract] | ||
2,019 | $ 0 | |
2,020 | 48,750 | |
2,021 | 413,000 | |
2,022 | 0 | |
2,023 | 0 | |
Thereafter | 0 | |
Long-term debt, gross | 461,750 | |
Unamortized debt premiums | $ 462,195 | $ 799,427 |
Fair Value of Assets and Liab_3
Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value of Financial Instruments | ||
Mortgage note payable | $ 49,195 | $ 49,427 |
Carrying Amount | ||
Fair Value of Financial Instruments | ||
Mortgage note payable | 49,195 | 49,427 |
Estimated Fair Value | ||
Fair Value of Financial Instruments | ||
Mortgage note payable | 48,642 | 48,919 |
Mortgages | ||
Fair Value of Financial Instruments | ||
Unamortized premiums | $ 445 | $ 677 |
Shareholders' Equity - Share Aw
Shareholders' Equity - Share Awards (Details) $ / shares in Units, $ in Thousands | Jan. 18, 2019USD ($)$ / shares | Sep. 24, 2018$ / sharesshares | May 23, 2018USD ($)shares | Dec. 31, 2018USD ($)shares | May 31, 2018USD ($)shares | Dec. 31, 2018USD ($)item$ / sharesshares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unvested shares (in shares) | 43,280 | 43,280 | ||||
2019 (in shares) | 15,320 | 15,320 | ||||
2020 (in shares) | 9,320 | 9,320 | ||||
2021 (in shares) | 9,320 | 9,320 | ||||
2022 (in shares) | 9,320 | 9,320 | ||||
Estimated future compensation expense for the unvested shares | $ | $ 1,010 | $ 1,010 | ||||
Weighted Average Period of Which Compensation Expense Will be Recognized | 28 months | |||||
Compensation expense | $ | $ 927 | |||||
Shares available for issuance under the award plan | 3,925,209 | 3,925,209 | ||||
Stock Repurchased During Period, Shares | 2,369 | |||||
Distribution characterization percentage, ordinary income | 100.00% | |||||
Distributions per share paid (in dollars per share) | $ / shares | $ 0.93 | |||||
Trustees | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common shares granted (in shares) | 3,000 | |||||
Aggregate value of common shares granted | $ | $ 314 | $ 61 | ||||
Share Based Compensation Arrangement By Share Based Payment Award, Market Value Of Shares Issued In Period To Each Individual1 | $ | $ 63 | |||||
Trustees | Common shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common shares granted (in shares) | 3,000 | 1,000 | ||||
Aggregate value of common shares granted | $ | $ 104 | |||||
Share Based Compensation Arrangement By Share Based Payment Award, Market Value Of Shares Issued In Period To Each Individual1 | $ | $ 21 | |||||
Officers And Employees | Common shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock Repurchased During Period, Shares | 2,369 | |||||
Share price (in dollars per share) | $ / shares | $ 22.08 | |||||
RMR LLC | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common shares granted (in shares) | 54,400,000 | |||||
Common shares granted | $ | $ 1,269 | |||||
RMR LLC | Officers And Employees | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Related Party Transaction Number of Equal Annual Installments for Vesting of Common Shares | item | 5 | |||||
Subsequent Event | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Distributions per share paid (in dollars per share) | $ / shares | $ 0.33 | |||||
Dividends declared | $ | $ 21,500 |
Shareholders' Equity - Summary
Shareholders' Equity - Summary of Unvested Shares Activity (Details) | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Granted (in shares) | shares | 77,400 |
Vested (in shares) | shares | (33,880) |
Forfeited (in shares) | shares | (240) |
Unvested shares at the end of the period (in shares) | shares | 43,280 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Granted (in dollars per share) | $ / shares | $ 22.60 |
Vested (in dollars per share) | $ / shares | 21.64 |
Forfeited (in dollars per share) | $ / shares | 23.33 |
Unvested shares at the end of the period (in dollars per share) | $ / shares | $ 23.33 |
Shareholders' Equity - 2018 Sha
Shareholders' Equity - 2018 Share Purchases (Details) - $ / shares | Sep. 24, 2018 | Dec. 31, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share repurchases to pay for tax withholding (in shares) | 2,369 | |
Common shares | Officers And Employees | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share repurchases to pay for tax withholding (in shares) | 2,369 | |
Share price (in dollars per share) | $ 22.08 |
Shareholders' Equity - Distribu
Shareholders' Equity - Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 18, 2019 | Nov. 17, 2016 | Aug. 18, 2016 | May 19, 2016 | Dec. 31, 2018 | Dec. 31, 2017 |
Dividends Payable [Line Items] | ||||||
Distribution per share (in dollars per share) | $ 0.33 | $ 0.33 | $ 0.27 | $ 0.93 | ||
Total Distributions | $ 21,474 | $ 21,457 | $ 17,551 | $ 60,482 | $ 60,482 | |
Distributions per share paid (in dollars per share) | $ 0.93 | |||||
Distribution characterization percentage, ordinary income | 100.00% | |||||
Subsequent Event | ||||||
Dividends Payable [Line Items] | ||||||
Distributions per share paid (in dollars per share) | $ 0.33 |
Related Person Transactions Nar
Related Person Transactions Narrative (Details) $ in Thousands | Dec. 31, 2018USD ($)agreementshares | Dec. 31, 2018USD ($)agreementshares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($) | Dec. 27, 2018shares | Sep. 29, 2017shares |
Related Party Transaction [Line Items] | ||||||
Common shares, shares issued (in shares) | shares | 65,074,791 | 65,074,791 | 45,000,000 | |||
Stock repurchased during the period | $ 8,632 | $ 0 | $ 0 | |||
Insurance premium allocation cost | 90 | 116 | 93 | |||
Insurance premium allocation | $ 266 | $ 320 | $ 351 | |||
RMR LLC | ||||||
Related Party Transaction [Line Items] | ||||||
Number of management service agreements | agreement | 2 | 2 | ||||
Common shares granted (in shares) | shares | 54,400,000 | |||||
Common shares granted | $ 1,269 | |||||
Affiliated Entity | ||||||
Related Party Transaction [Line Items] | ||||||
Common shares, shares issued (in shares) | shares | 45,000,000 | |||||
Payments for insurance premiums incurred | $ 266 | |||||
Industrial Logistics Properties Trust | Select Income REIT | ||||||
Related Party Transaction [Line Items] | ||||||
Common shares, shares issued (in shares) | shares | 45,000,000 | 45,000,000 | 45,000,000 | 45,000,000 | ||
AIC | ||||||
Related Party Transaction [Line Items] | ||||||
Cost to acquire shares | $ 8,632 | $ 8,632 | ||||
AIC Stock Purchase Agreement | ||||||
Related Party Transaction [Line Items] | ||||||
Stock repurchased during the period | $ 8,632 | |||||
Service fee, percent | 3.00% |
Certain Arrangements, Allocat_2
Certain Arrangements, Allocations and Operations Prior to our IPO (Details) | Jan. 17, 2018USD ($)ft²property | Sep. 30, 2017USD ($)propertynote | Sep. 29, 2017USD ($)ft²statepropertynoteshares | Jan. 16, 2018USD ($) | Dec. 31, 2017USD ($)propertynoteshares | Dec. 31, 2018USD ($)ft²statepropertyshares | Dec. 31, 2018USD ($)ft²statepropertyshares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($) | Dec. 27, 2018shares | Dec. 29, 2017USD ($) |
Line of Credit Facility [Line Items] | |||||||||||
Number of properties owned | property | 266 | 266 | 270 | 270 | |||||||
Net rentable area | ft² | 28,540,000 | 28,540,000 | 29,535,000 | 29,535,000 | |||||||
Common shares, shares issued (in shares) | shares | 45,000,000 | 65,074,791 | 65,074,791 | 45,000,000 | |||||||
Debt assumed on acquisition | $ 461,750,000 | $ 461,750,000 | |||||||||
Due from related parties | $ 0 | 1,390,000 | 1,390,000 | $ 0 | |||||||
Repayment of mortgage notes payable | 0 | 14,344,000 | $ 16,000 | ||||||||
Business management fees | 7,269,000 | ||||||||||
Incentive fee expense | 0 | ||||||||||
Mortgage note payable | |||||||||||
Line of Credit Facility [Line Items] | |||||||||||
Number of instruments assumed | note | 3 | 3 | |||||||||
Debt assumed on acquisition | $ 63,069,000 | $ 63,069,000 | |||||||||
Number of properties used as collateral | property | 3 | 3 | 2 | ||||||||
Number of debt instruments prepaid | note | 2 | ||||||||||
Repayment of mortgage notes payable | $ 14,319,000 | ||||||||||
Revolving Credit Facility | |||||||||||
Line of Credit Facility [Line Items] | |||||||||||
Debt assumed on acquisition | 750,000,000 | $ 413,000,000 | 413,000,000 | 750,000,000 | |||||||
Maximum borrowing capacity of revolving credit facility and term loan | $ 750,000,000 | $ 750,000,000 | 750,000,000 | $ 750,000,000 | |||||||
RMR LLC | |||||||||||
Line of Credit Facility [Line Items] | |||||||||||
Business management fees | $ 308,000 | 6,823,000 | 6,789,000 | ||||||||
Incentive fee expense | 7,660,000 | ||||||||||
Internal audit expense | 4,000 | 84,000 | 74,000 | ||||||||
Construction supervision fees | 230,000 | 4,244,000 | 4,182,000 | ||||||||
Related party reimbursement expense | $ 120,000 | $ 2,512,000 | $ 2,448,000 | ||||||||
AIC | |||||||||||
Line of Credit Facility [Line Items] | |||||||||||
Payments for insurance premiums incurred | $ 4,000 | ||||||||||
HAWAII | |||||||||||
Line of Credit Facility [Line Items] | |||||||||||
Number of properties owned | property | 226 | 226 | 226 | ||||||||
Net rentable area | ft² | 16,834,000 | 16,834,000 | 16,834,000 | ||||||||
Other States | |||||||||||
Line of Credit Facility [Line Items] | |||||||||||
Number of properties owned | property | 40 | 44 | 44 | ||||||||
Net rentable area | ft² | 11,706,000 | 12,701,000 | 12,701,000 | ||||||||
Number of states where real estate is located | state | 24 | 25 | 25 | ||||||||
RMR LLC | |||||||||||
Line of Credit Facility [Line Items] | |||||||||||
Property management fees as percentage of gross collected rents | 3.00% | ||||||||||
Construction supervision fees as percentage of construction costs | 5.00% | ||||||||||
Construction supervision fees | $ 4,680,000 | ||||||||||
Select Income REIT | |||||||||||
Line of Credit Facility [Line Items] | |||||||||||
Payments of stock issuance costs | $ 7,271,000 | ||||||||||
Due from related parties | $ 865,000 | $ 865,000 | |||||||||
Select Income REIT | Industrial Logistics Properties Trust | |||||||||||
Line of Credit Facility [Line Items] | |||||||||||
Common shares, shares issued (in shares) | shares | 45,000,000 | 45,000,000 | 45,000,000 | 45,000,000 |
Business and Property Managem_2
Business and Property Management Agreements (Details) | 11 Months Ended | 12 Months Ended | ||
Dec. 31, 2018USD ($)employee | Dec. 31, 2018USD ($)employee | Jan. 18, 2018$ / shares | Jan. 17, 2018agreement | |
Related Party Transaction [Line Items] | ||||
Number of employees | employee | 0 | 0 | ||
Equity market capitalization | $ 1,560,000,000 | |||
Unadjusted initial share price (usd per share) | $ / shares | $ 24 | |||
Adjusted benchmark return qualification for management fee reduction minimum | 2.00% | |||
Adjusted benchmark return qualification for management fee reduction maximum | 5.00% | |||
Business management fees | $ 7,269,000 | |||
Incentive management fee | $ 0 | |||
Term remaining prior to termination used in calculation of termination fee | 10 days | |||
RMR LLC | ||||
Related Party Transaction [Line Items] | ||||
Number of management service agreements | agreement | 2 | |||
Percentage applied on average historical cost of real estate investment properties acquired to calculate base management fee | 0.50% | 0.50% | ||
Base management fee payable as percentage of average historical cost of real estate investments excluding transferred assets for investments up to specified amount | 0.70% | 0.70% | ||
Base management fee payable threshold amount of other real estate investments | $ 250,000,000 | $ 250,000,000 | ||
Annual business management fee as percentage of aggregate cost of properties acquired in excess of specified amount | 0.50% | |||
Base management fee payable as percentage of average closing stock price on stock exchange | 0.70% | 0.70% | ||
Base management fee payable as percentage of average market capitalization exceeding specified amount | 0.50% | 0.50% | ||
Percentage for limitation and adjustments of incentive management fee payable | 12.00% | 12.00% | ||
Period of Consecutive Trading Days Used in Calculation | 10 days | |||
Period of trading days of measurement period used in calculation | 30 days | |||
Required return per share to adjust the return per share benchmark | 12.00% | |||
Incentive management fee, percentage of common shares outstanding used in calculation | 1.50% | |||
Property management fees as percentage of gross collected rents | 3.00% | |||
Construction supervision fees as percentage of construction costs | 5.00% | |||
Construction supervision fees | $ 4,680,000 | |||
Payroll and related costs | 2,672,000 | |||
Internal audit costs | $ 236,000 | |||
Number of business days prior written notice for termination of property management agreement | 60 days | |||
Window following a change of control | 12 months | |||
Period of transition services after termination agreement | 120 days | |||
Minimum | RMR LLC | ||||
Related Party Transaction [Line Items] | ||||
Termination fee term | 19 years | |||
Maximum | RMR LLC | ||||
Related Party Transaction [Line Items] | ||||
Termination fee term | 20 years |
Selected Quarterly Financial _3
Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Selected Quarterly Financial Information [Abstract] | |||||||||||
Total revenues | $ 42,074 | $ 40,431 | $ 39,420 | $ 40,605 | $ 39,395 | $ 39,066 | $ 38,605 | $ 39,440 | $ 162,530 | $ 156,506 | $ 153,310 |
Net income | $ 18,288 | $ 18,142 | $ 18,726 | $ 19,232 | $ 15,269 | $ 22,903 | $ 21,575 | $ 20,356 | $ 74,388 | $ 80,103 | $ 86,898 |
Net income per common share - basic and diluted (in dollars per share) | $ 0.28 | $ 0.28 | $ 0.29 | $ 0.31 | $ 0.34 | $ 0.51 | $ 0.48 | $ 0.45 | $ 1.16 | $ 1.78 | $ 1.93 |
SCHEDULE II - Valuation And Q_2
SCHEDULE II - Valuation And Qualifying Accounts (Details) - Allowance for doubtful accounts - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Movement in valuation and qualifying accounts | |||
Balance at Beginning of Period | $ 1,241 | $ 583 | $ 413 |
Charged to Costs and Expenses | 1,198 | 704 | 257 |
Deductions | (982) | (46) | (87) |
Balance at End of Period | $ 1,457 | $ 1,241 | $ 583 |
SCHEDULE III - REAL ESTATE AN_2
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Real Estate Properties (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | $ 49,195 | |||
Initial Cost to Company | ||||
Land | 669,341 | |||
Buildings and Equipment | 751,735 | |||
Costs Capitalized Subsequent to Acquisition | 41,320 | |||
Gross Amount Carried at Close of Period | ||||
Land | 670,501 | |||
Buildings and Equipment | 791,895 | |||
Total | 1,462,396 | $ 1,343,602 | $ 1,336,728 | $ 1,335,363 |
Accumulated Depreciation | (93,291) | $ (74,614) | $ (56,976) | $ (39,707) |
Liabilities, fair value adjustment | 445 | |||
U.S. federal income tax basis | $ 1,523,930 | |||
Building and Building Improvements | ||||
Gross Amount Carried at Close of Period | ||||
Life used for depreciation | 40 years | |||
Equipment | ||||
Gross Amount Carried at Close of Period | ||||
Life used for depreciation | 7 years | |||
Fort Smith, AR | 4501 Industrial Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 900 | |||
Buildings and Equipment | 3,485 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 900 | |||
Buildings and Equipment | 3,485 | |||
Total | 4,385 | |||
Accumulated Depreciation | (341) | |||
Colorado Springs, CO | 955 Aeroplaza Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 800 | |||
Buildings and Equipment | 7,412 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 800 | |||
Buildings and Equipment | 7,412 | |||
Total | 8,212 | |||
Accumulated Depreciation | (726) | |||
Denver, CO | 13400 East 39th Avenue and 3800 Wheeling Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,100 | |||
Buildings and Equipment | 12,955 | |||
Costs Capitalized Subsequent to Acquisition | 46 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,100 | |||
Buildings and Equipment | 13,001 | |||
Total | 16,101 | |||
Accumulated Depreciation | (1,298) | |||
Pueblo, CO | 150 Greenhorn Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 200 | |||
Buildings and Equipment | 4,177 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 200 | |||
Buildings and Equipment | 4,177 | |||
Total | 4,377 | |||
Accumulated Depreciation | (409) | |||
Wallingford, CT | 2 Tower Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,471 | |||
Buildings and Equipment | 2,165 | |||
Costs Capitalized Subsequent to Acquisition | 7 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,471 | |||
Buildings and Equipment | 2,172 | |||
Total | 3,643 | |||
Accumulated Depreciation | (668) | |||
Windsor, CT | 235 Great Pond Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,400 | |||
Buildings and Equipment | 9,469 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,400 | |||
Buildings and Equipment | 9,469 | |||
Total | 11,869 | |||
Accumulated Depreciation | (1,519) | |||
Doral, FL | 10450 Doral Boulevard | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 15,225 | |||
Buildings and Equipment | 28,101 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 15,225 | |||
Buildings and Equipment | 28,101 | |||
Total | 43,326 | |||
Accumulated Depreciation | (468) | |||
Miami, FL | 2100 NW 82nd Avenue | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 144 | |||
Buildings and Equipment | 1,297 | |||
Costs Capitalized Subsequent to Acquisition | 454 | |||
Gross Amount Carried at Close of Period | ||||
Land | 144 | |||
Buildings and Equipment | 1,751 | |||
Total | 1,895 | |||
Accumulated Depreciation | (749) | |||
Honolulu, HI | 1000 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,252 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,252 | |||
Buildings and Equipment | 0 | |||
Total | 2,252 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1001 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 15,155 | |||
Buildings and Equipment | 3,312 | |||
Costs Capitalized Subsequent to Acquisition | 92 | |||
Gross Amount Carried at Close of Period | ||||
Land | 15,155 | |||
Buildings and Equipment | 3,404 | |||
Total | 18,559 | |||
Accumulated Depreciation | (1,269) | |||
Honolulu, HI | 1024 Kikowaena Place | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,818 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,818 | |||
Buildings and Equipment | 0 | |||
Total | 1,818 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1024 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,385 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,385 | |||
Buildings and Equipment | 0 | |||
Total | 1,385 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1027 Kikowaena Place | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 5,444 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 5,444 | |||
Buildings and Equipment | 0 | |||
Total | 5,444 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1030 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 5,655 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 5,655 | |||
Buildings and Equipment | 0 | |||
Total | 5,655 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1038 Kikowaena Place | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,576 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,576 | |||
Buildings and Equipment | 0 | |||
Total | 2,576 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1045 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 819 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 819 | |||
Buildings and Equipment | 0 | |||
Total | 819 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1050 Kikowaena Place | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,404 | |||
Buildings and Equipment | 873 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,404 | |||
Buildings and Equipment | 873 | |||
Total | 2,277 | |||
Accumulated Depreciation | (328) | |||
Honolulu, HI | 1052 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,703 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 240 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,703 | |||
Buildings and Equipment | 240 | |||
Total | 1,943 | |||
Accumulated Depreciation | (79) | |||
Honolulu, HI | 1055 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,216 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,216 | |||
Buildings and Equipment | 0 | |||
Total | 1,216 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 106 Puuhale Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,113 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 229 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,113 | |||
Buildings and Equipment | 229 | |||
Total | 1,342 | |||
Accumulated Depreciation | (54) | |||
Honolulu, HI | 1062 Kikowaena Place | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,049 | |||
Buildings and Equipment | 598 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,049 | |||
Buildings and Equipment | 598 | |||
Total | 1,647 | |||
Accumulated Depreciation | (225) | |||
Honolulu, HI | 1122 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 5,781 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 5,781 | |||
Buildings and Equipment | 0 | |||
Total | 5,781 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 113 Puuhale Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,729 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,729 | |||
Buildings and Equipment | 0 | |||
Total | 3,729 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1150 Kikowaena Place | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,445 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,445 | |||
Buildings and Equipment | 0 | |||
Total | 2,445 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 120 Mokauea Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,953 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 655 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,953 | |||
Buildings and Equipment | 655 | |||
Total | 2,608 | |||
Accumulated Depreciation | (105) | |||
Honolulu, HI | 120 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,130 | |||
Buildings and Equipment | 11,307 | |||
Costs Capitalized Subsequent to Acquisition | 1,298 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,130 | |||
Buildings and Equipment | 12,605 | |||
Total | 13,735 | |||
Accumulated Depreciation | (4,321) | |||
Honolulu, HI | 120B Mokauea Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,953 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,953 | |||
Buildings and Equipment | 0 | |||
Total | 1,953 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 125 Puuhale Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,630 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,630 | |||
Buildings and Equipment | 0 | |||
Total | 1,630 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 125B Puuhale Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,815 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,815 | |||
Buildings and Equipment | 0 | |||
Total | 2,815 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1330 Pali Highway | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,423 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,423 | |||
Buildings and Equipment | 0 | |||
Total | 1,423 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1360 Pali Highway | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 9,170 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 161 | |||
Gross Amount Carried at Close of Period | ||||
Land | 9,170 | |||
Buildings and Equipment | 161 | |||
Total | 9,331 | |||
Accumulated Depreciation | (103) | |||
Honolulu, HI | 140 Puuhale Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,100 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,100 | |||
Buildings and Equipment | 0 | |||
Total | 1,100 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 142 Mokauea Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,182 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 1,455 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,182 | |||
Buildings and Equipment | 1,455 | |||
Total | 3,637 | |||
Accumulated Depreciation | (359) | |||
Honolulu, HI | 148 Mokauea Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,476 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,476 | |||
Buildings and Equipment | 0 | |||
Total | 3,476 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 150 Puuhale Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 4,887 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 4,887 | |||
Buildings and Equipment | 0 | |||
Total | 4,887 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 151 Puuhale Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,956 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,956 | |||
Buildings and Equipment | 0 | |||
Total | 1,956 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 158 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,488 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,488 | |||
Buildings and Equipment | 0 | |||
Total | 2,488 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 165 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 758 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 758 | |||
Buildings and Equipment | 0 | |||
Total | 758 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 179 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,480 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,480 | |||
Buildings and Equipment | 0 | |||
Total | 2,480 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 180 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,655 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,655 | |||
Buildings and Equipment | 0 | |||
Total | 1,655 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 1926 Auiki Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,874 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 1,562 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,874 | |||
Buildings and Equipment | 1,562 | |||
Total | 4,436 | |||
Accumulated Depreciation | (466) | |||
Honolulu, HI | 1931 Kahai Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,779 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,779 | |||
Buildings and Equipment | 0 | |||
Total | 3,779 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 197 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,238 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,238 | |||
Buildings and Equipment | 0 | |||
Total | 1,238 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2001 Kahai Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,091 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,091 | |||
Buildings and Equipment | 0 | |||
Total | 1,091 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2019 Kahai Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,377 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,377 | |||
Buildings and Equipment | 0 | |||
Total | 1,377 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2020 Auiki Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,385 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,385 | |||
Buildings and Equipment | 0 | |||
Total | 2,385 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 204 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,689 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,689 | |||
Buildings and Equipment | 0 | |||
Total | 1,689 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 207 Puuhale Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,024 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,024 | |||
Buildings and Equipment | 0 | |||
Total | 2,024 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2103 Kaliawa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,212 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,212 | |||
Buildings and Equipment | 0 | |||
Total | 3,212 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2106 Kaliawa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,568 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 169 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,568 | |||
Buildings and Equipment | 169 | |||
Total | 1,737 | |||
Accumulated Depreciation | (66) | |||
Honolulu, HI | 2110 Auiki Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 837 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 837 | |||
Buildings and Equipment | 0 | |||
Total | 837 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 212 Mohonua Place | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,067 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,067 | |||
Buildings and Equipment | 0 | |||
Total | 1,067 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2122 Kaliawa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,365 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,365 | |||
Buildings and Equipment | 0 | |||
Total | 1,365 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2127 Auiki Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,906 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 97 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,906 | |||
Buildings and Equipment | 97 | |||
Total | 3,003 | |||
Accumulated Depreciation | (25) | |||
Honolulu, HI | 2135 Auiki Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 825 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 825 | |||
Buildings and Equipment | 0 | |||
Total | 825 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2139 Kaliawa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 885 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 885 | |||
Buildings and Equipment | 0 | |||
Total | 885 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 214 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,864 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 485 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,864 | |||
Buildings and Equipment | 485 | |||
Total | 2,349 | |||
Accumulated Depreciation | (43) | |||
Honolulu, HI | 2140 Kaliawa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 931 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 931 | |||
Buildings and Equipment | 0 | |||
Total | 931 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2144 Auiki Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,640 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 7,088 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,640 | |||
Buildings and Equipment | 7,088 | |||
Total | 9,728 | |||
Accumulated Depreciation | (2,068) | |||
Honolulu, HI | 215 Puuhale Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,117 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,117 | |||
Buildings and Equipment | 0 | |||
Total | 2,117 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 218 Mohonua Place | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,741 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,741 | |||
Buildings and Equipment | 0 | |||
Total | 1,741 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 220 Puuhale Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,619 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,619 | |||
Buildings and Equipment | 0 | |||
Total | 2,619 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2250 Pahounui Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,862 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,862 | |||
Buildings and Equipment | 0 | |||
Total | 3,862 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2264 Pahounui Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,632 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,632 | |||
Buildings and Equipment | 0 | |||
Total | 1,632 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2276 Pahounui Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,619 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,619 | |||
Buildings and Equipment | 0 | |||
Total | 1,619 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 228 Mohonua Place | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,865 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,865 | |||
Buildings and Equipment | 0 | |||
Total | 1,865 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2308 Pahounui Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,314 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,314 | |||
Buildings and Equipment | 0 | |||
Total | 3,314 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 231 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 752 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 752 | |||
Buildings and Equipment | 0 | |||
Total | 752 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 231B Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,539 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,539 | |||
Buildings and Equipment | 0 | |||
Total | 1,539 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2344 Pahounui Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 6,709 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 6,709 | |||
Buildings and Equipment | 0 | |||
Total | 6,709 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 238 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,273 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,273 | |||
Buildings and Equipment | 0 | |||
Total | 2,273 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2635 Waiwai Loop A | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 934 | |||
Buildings and Equipment | 350 | |||
Costs Capitalized Subsequent to Acquisition | 683 | |||
Gross Amount Carried at Close of Period | ||||
Land | 934 | |||
Buildings and Equipment | 1,033 | |||
Total | 1,967 | |||
Accumulated Depreciation | (132) | |||
Honolulu, HI | 2635 Waiwai Loop B | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,177 | |||
Buildings and Equipment | 105 | |||
Costs Capitalized Subsequent to Acquisition | 683 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,177 | |||
Buildings and Equipment | 788 | |||
Total | 1,965 | |||
Accumulated Depreciation | (40) | |||
Honolulu, HI | 2760 Kam Highway | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 703 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 143 | |||
Gross Amount Carried at Close of Period | ||||
Land | 703 | |||
Buildings and Equipment | 143 | |||
Total | 846 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2804 Kilihau Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,775 | |||
Buildings and Equipment | 2 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,775 | |||
Buildings and Equipment | 2 | |||
Total | 1,777 | |||
Accumulated Depreciation | (1) | |||
Honolulu, HI | 2806 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2808 Kam Highway | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 310 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 310 | |||
Buildings and Equipment | 0 | |||
Total | 310 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2809 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,837 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,837 | |||
Buildings and Equipment | 0 | |||
Total | 1,837 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2810 Paa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,340 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,340 | |||
Buildings and Equipment | 0 | |||
Total | 3,340 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2810 Pukoloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 27,699 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 4 | |||
Gross Amount Carried at Close of Period | ||||
Land | 27,699 | |||
Buildings and Equipment | 4 | |||
Total | 27,703 | |||
Accumulated Depreciation | (4) | |||
Honolulu, HI | 2812 Awaawaloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 2 | |||
Costs Capitalized Subsequent to Acquisition | 1 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 3 | |||
Total | 1,804 | |||
Accumulated Depreciation | (2) | |||
Honolulu, HI | 2814 Kilihau Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,925 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,925 | |||
Buildings and Equipment | 0 | |||
Total | 1,925 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2815 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,818 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 5 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,818 | |||
Buildings and Equipment | 5 | |||
Total | 1,823 | |||
Accumulated Depreciation | (1) | |||
Honolulu, HI | 2815 Kilihau Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 287 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 287 | |||
Buildings and Equipment | 0 | |||
Total | 287 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2816 Awaawaloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,009 | |||
Buildings and Equipment | 27 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,009 | |||
Buildings and Equipment | 27 | |||
Total | 1,036 | |||
Accumulated Depreciation | (10) | |||
Honolulu, HI | 2819 Mokumoa Street - A | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,821 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,821 | |||
Buildings and Equipment | 0 | |||
Total | 1,821 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2819 Mokumoa Street - B | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,816 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,816 | |||
Buildings and Equipment | 0 | |||
Total | 1,816 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2819 Pukoloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,090 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 33 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,090 | |||
Buildings and Equipment | 33 | |||
Total | 2,123 | |||
Accumulated Depreciation | (8) | |||
Honolulu, HI | 2821 Kilihau Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 287 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 287 | |||
Buildings and Equipment | 0 | |||
Total | 287 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2826 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,921 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,921 | |||
Buildings and Equipment | 0 | |||
Total | 3,921 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2827 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2828 Paa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 12,448 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 12,448 | |||
Buildings and Equipment | 0 | |||
Total | 12,448 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2829 Awaawaloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,720 | |||
Buildings and Equipment | 2 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,720 | |||
Buildings and Equipment | 2 | |||
Total | 1,722 | |||
Accumulated Depreciation | (2) | |||
Honolulu, HI | 2829 Kilihau Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 287 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 287 | |||
Buildings and Equipment | 0 | |||
Total | 287 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2829 Pukoloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,088 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,088 | |||
Buildings and Equipment | 0 | |||
Total | 2,088 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2830 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,146 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,146 | |||
Buildings and Equipment | 0 | |||
Total | 2,146 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2831 Awaawaloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 860 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 860 | |||
Buildings and Equipment | 0 | |||
Total | 860 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2831 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,272 | |||
Buildings and Equipment | 529 | |||
Costs Capitalized Subsequent to Acquisition | 56 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,272 | |||
Buildings and Equipment | 585 | |||
Total | 1,857 | |||
Accumulated Depreciation | (219) | |||
Honolulu, HI | 2833 Kilihau Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 601 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 601 | |||
Buildings and Equipment | 0 | |||
Total | 601 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2833 Paa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,701 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,701 | |||
Buildings and Equipment | 0 | |||
Total | 1,701 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2833 Paa Street 2 | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,675 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,675 | |||
Buildings and Equipment | 0 | |||
Total | 1,675 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2836 Awaawaloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,353 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,353 | |||
Buildings and Equipment | 0 | |||
Total | 1,353 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2838 Kilihau Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 4,262 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 4,262 | |||
Buildings and Equipment | 0 | |||
Total | 4,262 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2839 Kilihau Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 627 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 627 | |||
Buildings and Equipment | 0 | |||
Total | 627 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2839 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,942 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,942 | |||
Buildings and Equipment | 0 | |||
Total | 1,942 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2840 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,149 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,149 | |||
Buildings and Equipment | 0 | |||
Total | 2,149 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2841 Pukoloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,088 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,088 | |||
Buildings and Equipment | 0 | |||
Total | 2,088 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2844 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,960 | |||
Buildings and Equipment | 14 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,960 | |||
Buildings and Equipment | 14 | |||
Total | 1,974 | |||
Accumulated Depreciation | (11) | |||
Honolulu, HI | 2846-A Awaawaloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,181 | |||
Buildings and Equipment | 954 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,181 | |||
Buildings and Equipment | 954 | |||
Total | 3,135 | |||
Accumulated Depreciation | (359) | |||
Honolulu, HI | 2847 Awaawaloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 582 | |||
Buildings and Equipment | 303 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 582 | |||
Buildings and Equipment | 303 | |||
Total | 885 | |||
Accumulated Depreciation | (114) | |||
Honolulu, HI | 2849 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 860 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 860 | |||
Buildings and Equipment | 0 | |||
Total | 860 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2850 Awaawaloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 286 | |||
Buildings and Equipment | 173 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 286 | |||
Buildings and Equipment | 173 | |||
Total | 459 | |||
Accumulated Depreciation | (65) | |||
Honolulu, HI | 2850 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,143 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,143 | |||
Buildings and Equipment | 0 | |||
Total | 2,143 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2850 Paa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 22,827 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 22,827 | |||
Buildings and Equipment | 0 | |||
Total | 22,827 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2855 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,807 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,807 | |||
Buildings and Equipment | 0 | |||
Total | 1,807 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2855 Pukoloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,934 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,934 | |||
Buildings and Equipment | 0 | |||
Total | 1,934 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2857 Awaawaloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 983 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 983 | |||
Buildings and Equipment | 0 | |||
Total | 983 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2858 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2861 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,867 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,867 | |||
Buildings and Equipment | 0 | |||
Total | 3,867 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2864 Awaawaloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,836 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 6 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,836 | |||
Buildings and Equipment | 6 | |||
Total | 1,842 | |||
Accumulated Depreciation | (4) | |||
Honolulu, HI | 2864 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,092 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,092 | |||
Buildings and Equipment | 0 | |||
Total | 2,092 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2865 Pukoloa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,934 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,934 | |||
Buildings and Equipment | 0 | |||
Total | 1,934 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2868 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2869 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,794 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,794 | |||
Buildings and Equipment | 0 | |||
Total | 1,794 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2875 Paa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,330 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,330 | |||
Buildings and Equipment | 0 | |||
Total | 1,330 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2879 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,789 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,789 | |||
Buildings and Equipment | 0 | |||
Total | 1,789 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2879 Paa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,691 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 44 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,691 | |||
Buildings and Equipment | 44 | |||
Total | 1,735 | |||
Accumulated Depreciation | (11) | |||
Honolulu, HI | 2886 Paa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,205 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,205 | |||
Buildings and Equipment | 0 | |||
Total | 2,205 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2889 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,783 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,783 | |||
Buildings and Equipment | 0 | |||
Total | 1,783 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2906 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,814 | |||
Buildings and Equipment | 2 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,814 | |||
Buildings and Equipment | 2 | |||
Total | 1,816 | |||
Accumulated Depreciation | (1) | |||
Honolulu, HI | 2908 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,798 | |||
Buildings and Equipment | 12 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,798 | |||
Buildings and Equipment | 12 | |||
Total | 1,810 | |||
Accumulated Depreciation | (1) | |||
Honolulu, HI | 2915 Kaihikapu Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,579 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,579 | |||
Buildings and Equipment | 0 | |||
Total | 2,579 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2927 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,778 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,778 | |||
Buildings and Equipment | 0 | |||
Total | 1,778 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2928 Kaihikapu Street - A | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2928 Kaihikapu Street - B | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,948 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,948 | |||
Buildings and Equipment | 0 | |||
Total | 1,948 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2960 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,977 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,977 | |||
Buildings and Equipment | 0 | |||
Total | 1,977 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2965 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,140 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,140 | |||
Buildings and Equipment | 0 | |||
Total | 2,140 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 2969 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 4,038 | |||
Buildings and Equipment | 15 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 4,038 | |||
Buildings and Equipment | 15 | |||
Total | 4,053 | |||
Accumulated Depreciation | (8) | |||
Honolulu, HI | 2970 Mokumoa Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,722 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,722 | |||
Buildings and Equipment | 0 | |||
Total | 1,722 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 33 S. Vineyard Boulevard | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 844 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 844 | |||
Buildings and Equipment | 0 | |||
Total | 844 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 525 N. King Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,342 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,342 | |||
Buildings and Equipment | 0 | |||
Total | 1,342 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 609 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 616 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 8 | |||
Gross Amount Carried at Close of Period | ||||
Land | 616 | |||
Buildings and Equipment | 8 | |||
Total | 624 | |||
Accumulated Depreciation | (6) | |||
Honolulu, HI | 619 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,401 | |||
Buildings and Equipment | 2 | |||
Costs Capitalized Subsequent to Acquisition | 12 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,401 | |||
Buildings and Equipment | 14 | |||
Total | 1,415 | |||
Accumulated Depreciation | (1) | |||
Honolulu, HI | 645 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 882 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 882 | |||
Buildings and Equipment | 0 | |||
Total | 882 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 659 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 860 | |||
Buildings and Equipment | 20 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 860 | |||
Buildings and Equipment | 20 | |||
Total | 880 | |||
Accumulated Depreciation | (16) | |||
Honolulu, HI | 659 Puuloa Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,807 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,807 | |||
Buildings and Equipment | 0 | |||
Total | 1,807 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 660 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,783 | |||
Buildings and Equipment | 3 | |||
Costs Capitalized Subsequent to Acquisition | 1 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,783 | |||
Buildings and Equipment | 4 | |||
Total | 1,787 | |||
Accumulated Depreciation | (3) | |||
Honolulu, HI | 667 Puuloa Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 860 | |||
Buildings and Equipment | 2 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 860 | |||
Buildings and Equipment | 2 | |||
Total | 862 | |||
Accumulated Depreciation | (2) | |||
Honolulu, HI | 669 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 14 | |||
Costs Capitalized Subsequent to Acquisition | 62 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 76 | |||
Total | 1,877 | |||
Accumulated Depreciation | (18) | |||
Honolulu, HI | 673 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 675 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,081 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,081 | |||
Buildings and Equipment | 0 | |||
Total | 1,081 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 679 Puuloa Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,807 | |||
Buildings and Equipment | 3 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,807 | |||
Buildings and Equipment | 3 | |||
Total | 1,810 | |||
Accumulated Depreciation | (2) | |||
Honolulu, HI | 685 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 673 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 20 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 20 | |||
Total | 1,821 | |||
Accumulated Depreciation | (16) | |||
Honolulu, HI | 692 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,798 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,798 | |||
Buildings and Equipment | 0 | |||
Total | 1,798 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 697 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 994 | |||
Buildings and Equipment | 811 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 994 | |||
Buildings and Equipment | 811 | |||
Total | 1,805 | |||
Accumulated Depreciation | (307) | |||
Honolulu, HI | 702 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,783 | |||
Buildings and Equipment | 4 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,783 | |||
Buildings and Equipment | 4 | |||
Total | 1,787 | |||
Accumulated Depreciation | (3) | |||
Honolulu, HI | 704 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,390 | |||
Buildings and Equipment | 685 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,390 | |||
Buildings and Equipment | 685 | |||
Total | 3,075 | |||
Accumulated Depreciation | (258) | |||
Honolulu, HI | 709 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 719 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,960 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,960 | |||
Buildings and Equipment | 0 | |||
Total | 1,960 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 729 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 733 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,403 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,403 | |||
Buildings and Equipment | 0 | |||
Total | 3,403 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 739 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 759 Puuloa Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,766 | |||
Buildings and Equipment | 3 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,766 | |||
Buildings and Equipment | 3 | |||
Total | 1,769 | |||
Accumulated Depreciation | (3) | |||
Honolulu, HI | 761 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,757 | |||
Buildings and Equipment | 1 | |||
Costs Capitalized Subsequent to Acquisition | 1 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,757 | |||
Buildings and Equipment | 2 | |||
Total | 3,759 | |||
Accumulated Depreciation | (1) | |||
Honolulu, HI | 766 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 770 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 789 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,608 | |||
Buildings and Equipment | 3 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,608 | |||
Buildings and Equipment | 3 | |||
Total | 2,611 | |||
Accumulated Depreciation | (2) | |||
Honolulu, HI | 80 Sand Island Access Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 7,972 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 7,972 | |||
Buildings and Equipment | 0 | |||
Total | 7,972 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 803 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,804 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,804 | |||
Buildings and Equipment | 0 | |||
Total | 3,804 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 808 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,279 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,279 | |||
Buildings and Equipment | 0 | |||
Total | 3,279 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 812 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,960 | |||
Buildings and Equipment | 25 | |||
Costs Capitalized Subsequent to Acquisition | 628 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,613 | |||
Buildings and Equipment | 0 | |||
Total | 2,613 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 819 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 4,821 | |||
Buildings and Equipment | 583 | |||
Costs Capitalized Subsequent to Acquisition | 30 | |||
Gross Amount Carried at Close of Period | ||||
Land | 4,821 | |||
Buildings and Equipment | 613 | |||
Total | 5,434 | |||
Accumulated Depreciation | (230) | |||
Honolulu, HI | 822 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,795 | |||
Buildings and Equipment | 15 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,795 | |||
Buildings and Equipment | 15 | |||
Total | 1,810 | |||
Accumulated Depreciation | (12) | |||
Honolulu, HI | 830 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 25 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 25 | |||
Total | 1,826 | |||
Accumulated Depreciation | (20) | |||
Honolulu, HI | 841 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,265 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,265 | |||
Buildings and Equipment | 0 | |||
Total | 3,265 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 842 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,795 | |||
Buildings and Equipment | 14 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,795 | |||
Buildings and Equipment | 14 | |||
Total | 1,809 | |||
Accumulated Depreciation | (11) | |||
Honolulu, HI | 846 Ala Lilikoi Boulevard B | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 234 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 234 | |||
Buildings and Equipment | 0 | |||
Total | 234 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 848 Ala Lilikoi Boulevard A | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 9,426 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 9,426 | |||
Buildings and Equipment | 0 | |||
Total | 9,426 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 850 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,682 | |||
Buildings and Equipment | 2 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,682 | |||
Buildings and Equipment | 2 | |||
Total | 2,684 | |||
Accumulated Depreciation | (2) | |||
Honolulu, HI | 852 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,801 | |||
Buildings and Equipment | 0 | |||
Total | 1,801 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 855 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,834 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,834 | |||
Buildings and Equipment | 0 | |||
Total | 1,834 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 865 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,846 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,846 | |||
Buildings and Equipment | 0 | |||
Total | 1,846 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 889 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 5,888 | |||
Buildings and Equipment | 315 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 5,888 | |||
Buildings and Equipment | 315 | |||
Total | 6,203 | |||
Accumulated Depreciation | (48) | |||
Honolulu, HI | 905 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,148 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,148 | |||
Buildings and Equipment | 0 | |||
Total | 1,148 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 918 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,820 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,820 | |||
Buildings and Equipment | 0 | |||
Total | 3,820 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 930 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,654 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,654 | |||
Buildings and Equipment | 0 | |||
Total | 3,654 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 944 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,219 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,219 | |||
Buildings and Equipment | 0 | |||
Total | 1,219 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 949 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 11,568 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 11,568 | |||
Buildings and Equipment | 0 | |||
Total | 11,568 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 950 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,724 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,724 | |||
Buildings and Equipment | 0 | |||
Total | 1,724 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 960 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 614 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 614 | |||
Buildings and Equipment | 0 | |||
Total | 614 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 960 Mapunapuna Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,933 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,933 | |||
Buildings and Equipment | 0 | |||
Total | 1,933 | |||
Accumulated Depreciation | 0 | |||
Honolulu, HI | 970 Ahua Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 817 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 817 | |||
Buildings and Equipment | 0 | |||
Total | 817 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-027 Kaomi Loop | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,667 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,667 | |||
Buildings and Equipment | 0 | |||
Total | 2,667 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-064 Kaomi Loop | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,826 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,826 | |||
Buildings and Equipment | 0 | |||
Total | 1,826 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-080 Hanua | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,187 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,187 | |||
Buildings and Equipment | 0 | |||
Total | 2,187 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-083 Hanua | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 716 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 716 | |||
Buildings and Equipment | 0 | |||
Total | 716 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-086 Kaomi Loop | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 13,884 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 13,884 | |||
Buildings and Equipment | 0 | |||
Total | 13,884 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-087 Hanua | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 381 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 381 | |||
Buildings and Equipment | 0 | |||
Total | 381 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-091 Hanua | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 552 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 552 | |||
Buildings and Equipment | 0 | |||
Total | 552 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-102 Kaomi Loop | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,599 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,599 | |||
Buildings and Equipment | 0 | |||
Total | 1,599 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-110 Kaomi Loop | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,293 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,293 | |||
Buildings and Equipment | 0 | |||
Total | 1,293 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-119 Olai | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,981 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,981 | |||
Buildings and Equipment | 0 | |||
Total | 1,981 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-141 Kalaeloa | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 11,624 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 11,624 | |||
Buildings and Equipment | 0 | |||
Total | 11,624 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-150 Kaomi Loop | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,159 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,159 | |||
Buildings and Equipment | 0 | |||
Total | 3,159 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-171 Olai | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 218 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 47 | |||
Gross Amount Carried at Close of Period | ||||
Land | 218 | |||
Buildings and Equipment | 47 | |||
Total | 265 | |||
Accumulated Depreciation | (17) | |||
Kapolei, HI | 91-174 Olai | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 962 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 47 | |||
Gross Amount Carried at Close of Period | ||||
Land | 962 | |||
Buildings and Equipment | 47 | |||
Total | 1,009 | |||
Accumulated Depreciation | (16) | |||
Kapolei, HI | 91-175 Olai | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,243 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 43 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,243 | |||
Buildings and Equipment | 43 | |||
Total | 1,286 | |||
Accumulated Depreciation | (17) | |||
Kapolei, HI | 91-185 Kalaeloa | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,761 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,761 | |||
Buildings and Equipment | 0 | |||
Total | 1,761 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-202 Kalaeloa | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,722 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 326 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,722 | |||
Buildings and Equipment | 326 | |||
Total | 2,048 | |||
Accumulated Depreciation | (45) | |||
Kapolei, HI | 91-210 Kauhi | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 567 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 567 | |||
Buildings and Equipment | 0 | |||
Total | 567 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-210 Olai | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 706 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 706 | |||
Buildings and Equipment | 0 | |||
Total | 706 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-218 Olai | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,622 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 61 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,622 | |||
Buildings and Equipment | 61 | |||
Total | 1,683 | |||
Accumulated Depreciation | (17) | |||
Kapolei, HI | 91-220 Kalaeloa | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 242 | |||
Buildings and Equipment | 1,457 | |||
Costs Capitalized Subsequent to Acquisition | 172 | |||
Gross Amount Carried at Close of Period | ||||
Land | 242 | |||
Buildings and Equipment | 1,629 | |||
Total | 1,871 | |||
Accumulated Depreciation | (537) | |||
Kapolei, HI | 91-222 Olai | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,035 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,035 | |||
Buildings and Equipment | 0 | |||
Total | 2,035 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-238 Kauhi | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,390 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 9,209 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,390 | |||
Buildings and Equipment | 9,209 | |||
Total | 10,599 | |||
Accumulated Depreciation | (2,606) | |||
Kapolei, HI | 91-241 Kalaeloa | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 426 | |||
Buildings and Equipment | 3,983 | |||
Costs Capitalized Subsequent to Acquisition | 838 | |||
Gross Amount Carried at Close of Period | ||||
Land | 426 | |||
Buildings and Equipment | 4,821 | |||
Total | 5,247 | |||
Accumulated Depreciation | (1,576) | |||
Kapolei, HI | 91-250 Komohana | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,506 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,506 | |||
Buildings and Equipment | 0 | |||
Total | 1,506 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-252 Kauhi | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 536 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 536 | |||
Buildings and Equipment | 0 | |||
Total | 536 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-255 Hanua | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,230 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 16 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,230 | |||
Buildings and Equipment | 16 | |||
Total | 1,246 | |||
Accumulated Depreciation | (1) | |||
Kapolei, HI | 91-259 Olai | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,944 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,944 | |||
Buildings and Equipment | 0 | |||
Total | 2,944 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-265 Hanua | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,569 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,569 | |||
Buildings and Equipment | 0 | |||
Total | 1,569 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-300 Hanua | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,381 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,381 | |||
Buildings and Equipment | 0 | |||
Total | 1,381 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-329 Kauhi | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 294 | |||
Buildings and Equipment | 2,297 | |||
Costs Capitalized Subsequent to Acquisition | 2,433 | |||
Gross Amount Carried at Close of Period | ||||
Land | 294 | |||
Buildings and Equipment | 4,730 | |||
Total | 5,024 | |||
Accumulated Depreciation | (1,342) | |||
Kapolei, HI | 91-349 Kauhi | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 649 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 649 | |||
Buildings and Equipment | 0 | |||
Total | 649 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-399 Kauhi | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 27,405 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 27,405 | |||
Buildings and Equipment | 0 | |||
Total | 27,405 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-400 Komohana | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,494 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,494 | |||
Buildings and Equipment | 0 | |||
Total | 1,494 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | 91-410 Komohana | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 418 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 12 | |||
Gross Amount Carried at Close of Period | ||||
Land | 418 | |||
Buildings and Equipment | 12 | |||
Total | 430 | |||
Accumulated Depreciation | (1) | |||
Kapolei, HI | 91-416 Komohana | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 713 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 11 | |||
Gross Amount Carried at Close of Period | ||||
Land | 713 | |||
Buildings and Equipment | 11 | |||
Total | 724 | |||
Accumulated Depreciation | (1) | |||
Kapolei, HI | AES HI Easement | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,250 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,250 | |||
Buildings and Equipment | 0 | |||
Total | 1,250 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | Other Easements & Lots | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 358 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 1,395 | |||
Gross Amount Carried at Close of Period | ||||
Land | 358 | |||
Buildings and Equipment | 1,395 | |||
Total | 1,753 | |||
Accumulated Depreciation | (353) | |||
Kapolei, HI | Tesaro 967 Easement | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 6,593 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 6,593 | |||
Buildings and Equipment | 0 | |||
Total | 6,593 | |||
Accumulated Depreciation | 0 | |||
Kapolei, HI | Texaco Easement | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,653 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,653 | |||
Buildings and Equipment | 0 | |||
Total | 2,653 | |||
Accumulated Depreciation | 0 | |||
Waipahu, HI | 94-240 Pupuole Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 717 | |||
Buildings and Equipment | 0 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 717 | |||
Buildings and Equipment | 0 | |||
Total | 717 | |||
Accumulated Depreciation | 0 | |||
Ankeny, IA | 5500 SE Delaware Avenue | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,200 | |||
Buildings and Equipment | 16,994 | |||
Costs Capitalized Subsequent to Acquisition | 1,007 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,707 | |||
Buildings and Equipment | 17,494 | |||
Total | 20,201 | |||
Accumulated Depreciation | (1,664) | |||
Eldridge, IA | 951 Trails Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 470 | |||
Buildings and Equipment | 7,480 | |||
Costs Capitalized Subsequent to Acquisition | 874 | |||
Gross Amount Carried at Close of Period | ||||
Land | 470 | |||
Buildings and Equipment | 8,354 | |||
Total | 8,824 | |||
Accumulated Depreciation | (2,340) | |||
Newton, IA | 2300 North 33rd Avenue East | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 500 | |||
Buildings and Equipment | 13,236 | |||
Costs Capitalized Subsequent to Acquisition | 395 | |||
Gross Amount Carried at Close of Period | ||||
Land | 500 | |||
Buildings and Equipment | 13,631 | |||
Total | 14,131 | |||
Accumulated Depreciation | (3,517) | |||
Pocatello, ID | 7121 South Fifth Avenue | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 400 | |||
Buildings and Equipment | 4,201 | |||
Costs Capitalized Subsequent to Acquisition | 145 | |||
Gross Amount Carried at Close of Period | ||||
Land | 400 | |||
Buildings and Equipment | 4,346 | |||
Total | 4,746 | |||
Accumulated Depreciation | (419) | |||
Harvey, IL | 1230 West 171st Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 800 | |||
Buildings and Equipment | 1,673 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 800 | |||
Buildings and Equipment | 1,673 | |||
Total | 2,473 | |||
Accumulated Depreciation | (164) | |||
Rockford, IL | 5156 American Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 400 | |||
Buildings and Equipment | 1,529 | |||
Costs Capitalized Subsequent to Acquisition | 82 | |||
Gross Amount Carried at Close of Period | ||||
Land | 400 | |||
Buildings and Equipment | 1,611 | |||
Total | 2,011 | |||
Accumulated Depreciation | (151) | |||
Baton Rouge, LA | 17200 Manchac Park Lane | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,700 | |||
Buildings and Equipment | 8,860 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,700 | |||
Buildings and Equipment | 8,860 | |||
Total | 10,560 | |||
Accumulated Depreciation | (868) | |||
Lafayette, LA | 209 South Bud Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 700 | |||
Buildings and Equipment | 4,549 | |||
Costs Capitalized Subsequent to Acquisition | 9 | |||
Gross Amount Carried at Close of Period | ||||
Land | 700 | |||
Buildings and Equipment | 4,558 | |||
Total | 5,258 | |||
Accumulated Depreciation | (446) | |||
North East, MD | 4000 Principio Parkway | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 4,200 | |||
Buildings and Equipment | 71,518 | |||
Costs Capitalized Subsequent to Acquisition | 650 | |||
Gross Amount Carried at Close of Period | ||||
Land | 4,200 | |||
Buildings and Equipment | 72,168 | |||
Total | 76,368 | |||
Accumulated Depreciation | (7,018) | |||
Upper Marlboro, MD | 16101 Queens Court | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 5,296 | |||
Buildings and Equipment | 21,833 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 5,296 | |||
Buildings and Equipment | 21,833 | |||
Total | 27,129 | |||
Accumulated Depreciation | (137) | |||
Kalamazoo, MI | 3800 Midlink Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,630 | |||
Buildings and Equipment | 40,599 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,630 | |||
Buildings and Equipment | 40,599 | |||
Total | 43,229 | |||
Accumulated Depreciation | (3,975) | |||
Bemidji, MN | 2401 Cram Avenue SE | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 100 | |||
Buildings and Equipment | 2,137 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 100 | |||
Buildings and Equipment | 2,137 | |||
Total | 2,237 | |||
Accumulated Depreciation | (209) | |||
Maple Grove, MN | 10100 89th Avenue N | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,469 | |||
Buildings and Equipment | 21,287 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,469 | |||
Buildings and Equipment | 21,287 | |||
Total | 24,756 | |||
Accumulated Depreciation | (89) | |||
Brookfield, MO | 110 Stanbury Industrial Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 200 | |||
Buildings and Equipment | 1,859 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 200 | |||
Buildings and Equipment | 1,859 | |||
Total | 2,059 | |||
Accumulated Depreciation | (182) | |||
Asheville, NC | 628 Patton Avenue | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 500 | |||
Buildings and Equipment | 1,514 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 500 | |||
Buildings and Equipment | 1,514 | |||
Total | 2,014 | |||
Accumulated Depreciation | (148) | |||
Minot, ND | 3900 NE 6th Street | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 700 | |||
Buildings and Equipment | 3,223 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 700 | |||
Buildings and Equipment | 3,223 | |||
Total | 3,923 | |||
Accumulated Depreciation | (316) | |||
Lincoln, NE | 1415 West Commerce Way | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,200 | |||
Buildings and Equipment | 8,518 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,200 | |||
Buildings and Equipment | 8,518 | |||
Total | 10,718 | |||
Accumulated Depreciation | (834) | |||
Burlington, NJ | 309 Dulty's Lane | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,600 | |||
Buildings and Equipment | 51,400 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,600 | |||
Buildings and Equipment | 51,400 | |||
Total | 53,000 | |||
Accumulated Depreciation | (5,033) | |||
Mahwah, NJ | 725 Darlington Avenue | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 8,492 | |||
Buildings and Equipment | 9,451 | |||
Costs Capitalized Subsequent to Acquisition | 1,047 | |||
Gross Amount Carried at Close of Period | ||||
Land | 8,492 | |||
Buildings and Equipment | 10,498 | |||
Total | 18,990 | |||
Accumulated Depreciation | (1,179) | |||
Fernley, NV | 2375 East Newlands Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,100 | |||
Buildings and Equipment | 17,314 | |||
Costs Capitalized Subsequent to Acquisition | 286 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,100 | |||
Buildings and Equipment | 17,600 | |||
Total | 18,700 | |||
Accumulated Depreciation | (1,732) | |||
Albany, NY | 55 Commerce Avenue | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,000 | |||
Buildings and Equipment | 10,105 | |||
Costs Capitalized Subsequent to Acquisition | 179 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,000 | |||
Buildings and Equipment | 10,284 | |||
Total | 11,284 | |||
Accumulated Depreciation | (1,012) | |||
Avon, OH | 32150 Just Imagine Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,200 | |||
Buildings and Equipment | 23,280 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,200 | |||
Buildings and Equipment | 23,280 | |||
Total | 25,480 | |||
Accumulated Depreciation | (5,577) | |||
Chillicothe, OH | 1415 Industrial Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,200 | |||
Buildings and Equipment | 3,265 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,200 | |||
Buildings and Equipment | 3,265 | |||
Total | 4,465 | |||
Accumulated Depreciation | (320) | |||
Groveport, OH | 5300 Centerpoint Parkway | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,700 | |||
Buildings and Equipment | 29,863 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,700 | |||
Buildings and Equipment | 29,863 | |||
Total | 32,563 | |||
Accumulated Depreciation | (2,924) | |||
Lewis Center, OH | 200 Orange Point Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,300 | |||
Buildings and Equipment | 8,613 | |||
Costs Capitalized Subsequent to Acquisition | 162 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,300 | |||
Buildings and Equipment | 8,775 | |||
Total | 10,075 | |||
Accumulated Depreciation | (849) | |||
South Point, OH | 301 Commerce Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 600 | |||
Buildings and Equipment | 4,530 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 600 | |||
Buildings and Equipment | 4,530 | |||
Total | 5,130 | |||
Accumulated Depreciation | (444) | |||
McAlester, OK | 2820 State Highway 31 | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 581 | |||
Buildings and Equipment | 2,237 | |||
Costs Capitalized Subsequent to Acquisition | 4,633 | |||
Gross Amount Carried at Close of Period | ||||
Land | 581 | |||
Buildings and Equipment | 6,870 | |||
Total | 7,451 | |||
Accumulated Depreciation | (365) | |||
Carlisle PA | 5 Logistics Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,299 | |||
Buildings and Equipment | 15,515 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,299 | |||
Buildings and Equipment | 15,515 | |||
Total | 18,814 | |||
Accumulated Depreciation | (97) | |||
Rock Hill, SC | 996 Paragon Way | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 2,600 | |||
Buildings and Equipment | 35,920 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 2,600 | |||
Buildings and Equipment | 35,920 | |||
Total | 38,520 | |||
Accumulated Depreciation | (3,517) | |||
Spartanburg, SC | 510 John Dodd Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 3,300 | |||
Buildings and Equipment | 57,998 | |||
Costs Capitalized Subsequent to Acquisition | 42 | |||
Gross Amount Carried at Close of Period | ||||
Land | 3,300 | |||
Buildings and Equipment | 58,040 | |||
Total | 61,340 | |||
Accumulated Depreciation | (5,680) | |||
Memphis, TN | 4836 Hickory Hill Road | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,402 | |||
Buildings and Equipment | 10,769 | |||
Costs Capitalized Subsequent to Acquisition | 750 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,402 | |||
Buildings and Equipment | 11,519 | |||
Total | 12,921 | |||
Accumulated Depreciation | (1,129) | |||
Murfreesboro, TN | 2020 Joe B. Jackson Parkway | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 7,500 | |||
Buildings and Equipment | 55,259 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 7,500 | |||
Buildings and Equipment | 55,259 | |||
Total | 62,759 | |||
Accumulated Depreciation | (5,411) | |||
Salt Lake City, UT | 1095 South 4800 West | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,500 | |||
Buildings and Equipment | 6,913 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,500 | |||
Buildings and Equipment | 6,913 | |||
Total | 8,413 | |||
Accumulated Depreciation | (677) | |||
Chester, VA | 1901 Meadowville Technology Parkway | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 49,195 | |||
Initial Cost to Company | ||||
Land | 4,000 | |||
Buildings and Equipment | 67,511 | |||
Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount Carried at Close of Period | ||||
Land | 4,000 | |||
Buildings and Equipment | 67,511 | |||
Total | 71,511 | |||
Accumulated Depreciation | (6,610) | |||
Winchester, VA | 181 Battaile Drive | ||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 1,487 | |||
Buildings and Equipment | 12,854 | |||
Costs Capitalized Subsequent to Acquisition | 11 | |||
Gross Amount Carried at Close of Period | ||||
Land | 1,487 | |||
Buildings and Equipment | 12,865 | |||
Total | 14,352 | |||
Accumulated Depreciation | $ (4,086) |
SCHEDULE III - REAL ESTATE AN_3
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Analysis of Carrying Amount And Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Real Estate Properties | |||
Balance at the beginning of the period | $ 1,343,602 | $ 1,336,728 | $ 1,335,363 |
Additions | 118,898 | 6,974 | 1,659 |
Disposals | (104) | (100) | (294) |
Balance at the end of the period | 1,462,396 | 1,343,602 | 1,336,728 |
Accumulated Depreciation | |||
Balance at the beginning of the period | (74,614) | (56,976) | (39,707) |
Additions | (18,781) | (17,738) | (17,563) |
Disposals | 104 | 100 | 294 |
Balance at the end of the period | $ (93,291) | $ (74,614) | $ (56,976) |