Cover Page
Cover Page - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 11, 2022 | Jun. 30, 2021 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 001-38342 | ||
Entity Registrant Name | INDUSTRIAL LOGISTICS PROPERTIES TRUST | ||
Entity Incorporation, State or Country Code | MD | ||
Entity Tax Identification Number | 82-2809631 | ||
Entity Address, Address Line One | Two Newton Place, | ||
Entity Address, Address Line Two | 255 Washington Street, | ||
Entity Address, Address Line Three | Suite 300 | ||
Entity Address, City or Town | Newton | ||
Entity Address, State or Province | MA | ||
Entity Address, Postal Zip Code | 02458-1634 | ||
City Area Code | 617 | ||
Local Phone Number | 219-1460 | ||
Title of 12(b) Security | Common Shares of Beneficial Interest | ||
Trading Symbol | ILPT | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 1.7 | ||
Entity Common Stock, Shares Outstanding | 65,404,592 | ||
Documents Incorporated by Reference | Certain information required by Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form 10-K is incorporated by reference to our definitive Proxy Statement for the 2022 Annual Meeting of Shareholders, to be filed with the Securities and Exchange Commission within 120 days after the fiscal year ended December 31, 2021. | ||
Entity Central Index Key | 0001717307 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus (i.e. Q1,Q2,Q3,FY) | FY | ||
Amendment Flag | false |
Audit Information
Audit Information | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2019 | |
Auditor [Abstract] | ||
Auditor Name | Deloitte & Touche LLP | Ernst & Young LLP |
Auditor Firm ID | 34 | 42 |
Auditor Location | Boston, Massachusetts | Boston, Massachusetts |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Real estate properties: | ||
Land | $ 699,037 | $ 709,099 |
Buildings and improvements | 1,049,796 | 1,099,971 |
Total real estate properties, gross | 1,748,833 | 1,809,070 |
Accumulated depreciation | (167,490) | (141,406) |
Total real estate properties, net | 1,581,343 | 1,667,664 |
Investment in unconsolidated joint venture | 143,021 | 60,590 |
Acquired real estate leases, net | 63,441 | 83,644 |
Cash and cash equivalents | 29,397 | 22,834 |
Rents receivable, including straight line rents of $69,172 and $62,753, respectively | 75,877 | 69,511 |
Deferred leasing costs, net | 8,883 | 4,595 |
Debt issuance costs, net | 804 | 1,477 |
Due from related persons | 0 | 2,665 |
Other assets, net | 5,792 | 2,765 |
Total assets | 1,908,558 | 1,915,745 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Revolving credit facility | 182,000 | 221,000 |
Mortgage notes payable, net | 646,124 | 645,579 |
Assumed real estate lease obligations, net | 12,435 | 14,630 |
Accounts payable and other liabilities | 16,281 | 14,716 |
Rents collected in advance | 8,394 | 7,811 |
Security deposits | 3,097 | 6,540 |
Due to related persons | 2,185 | 2,279 |
Total liabilities | 870,516 | 912,555 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Common shares of beneficial interest, $.01 par value: 100,000,000 shares authorized; 65,404,592 and 65,301,088 shares issued and outstanding, respectively | 654 | 653 |
Additional paid in capital | 1,012,224 | 1,010,819 |
Cumulative net income | 343,908 | 224,226 |
Cumulative common distributions | (318,744) | (232,508) |
Total shareholders' equity | 1,038,042 | 1,003,190 |
Total liabilities and shareholders' equity | $ 1,908,558 | $ 1,915,745 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Straight line rents | $ 69,172 | $ 62,753 |
Common stock, par value per share (in usd per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common shares, shares issued (in shares) | 65,404,592 | 65,301,088 |
Common stock, shares outstanding | 65,404,592 | 65,301,088 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | |||
Rental income | $ 219,874 | $ 254,575 | $ 229,234 |
Expenses: | |||
Real estate taxes | 30,134 | 35,185 | 30,367 |
Other operating expenses | 18,678 | 20,749 | 17,643 |
Depreciation and amortization | 50,598 | 70,518 | 61,927 |
Acquisition and certain other transaction related costs | 1,132 | 200 | 0 |
General and administrative | 16,724 | 19,580 | 17,189 |
Total expenses | 117,266 | 146,232 | 127,126 |
Gain on sale of real estate | 12,054 | 23,996 | 0 |
Interest income | 0 | 113 | 743 |
Interest expense (including net amortization of debt issuance costs, premiums and discounts of $2,022, $2,481 and $2,017, respectively) | (35,625) | (51,619) | (50,848) |
Gain on early extinguishment of debt | 0 | 120 | 0 |
Income before income tax expense and equity in earnings of investees | 79,037 | 80,953 | 52,003 |
Income tax expense | (273) | (277) | (171) |
Equity in earnings of investees | 40,918 | 529 | 666 |
Net income | 119,682 | 81,205 | 52,498 |
Net loss attributable to noncontrolling interest | 0 | 866 | 0 |
Net income attributable to common shareholders | $ 119,682 | $ 82,071 | $ 52,498 |
Weighted average common shares outstanding - basic (in shares) | 65,169 | 65,104 | 65,049 |
Weighted average common shares outstanding - diluted (in shares) | 65,211 | 65,114 | 65,055 |
Earnings Per Share, Basic and Diluted [Abstract] | |||
Net income per common share - basic and diluted (in dollars per share) | $ 1.83 | $ 1.26 | $ 0.81 |
Revenue, Product and Service [Extensible List] | Real Estate [Member] |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | |||
Net amortization of debt issuance costs, premiums and discounts | $ 2,022 | $ 2,481 | $ 2,017 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Total Equity Attributable to Common Shareholders | Common shares | Additional Paid In Capital | Cumulative Net Income | Cumulative Common Distributions | Total Equity Attributable to Noncontrolling nterest |
Balance (in shares) at Dec. 31, 2018 | 65,074,791 | ||||||
Balance at beginning of period at Dec. 31, 2018 | $ 1,028,273 | $ 1,028,273 | $ 651 | $ 998,447 | $ 89,657 | $ (60,482) | $ 0 |
Increase (Decrease) in Stockholders' Equity | |||||||
Net income (loss) | 52,498 | 52,498 | 52,498 | ||||
Share grants (in shares) | 119,200 | ||||||
Share grants | 1,111 | 1,111 | $ 1 | 1,110 | |||
Share repurchases (in shares) | (11,963) | ||||||
Share repurchases | (253) | (253) | (253) | ||||
Share forfeitures (in shares) | (1,400) | ||||||
Share forfeitures | (2) | (2) | (2) | ||||
Distributions to common shareholders | (85,937) | (85,937) | (85,937) | ||||
Balance (in shares) at Dec. 31, 2019 | 65,180,628 | ||||||
Balance at end of period at Dec. 31, 2019 | 995,690 | 995,690 | $ 652 | 999,302 | 142,155 | (146,419) | 0 |
Increase (Decrease) in Stockholders' Equity | |||||||
Net income (loss) | 81,205 | 82,071 | 82,071 | (866) | |||
Share grants (in shares) | 139,100 | ||||||
Share grants | 2,336 | 2,336 | $ 1 | 2,335 | |||
Share repurchases (in shares) | (18,060) | ||||||
Share repurchases | (382) | (382) | (382) | ||||
Share forfeitures (in shares) | (580) | ||||||
Share forfeitures | (3) | (3) | (3) | ||||
Distributions to common shareholders | (86,089) | (86,089) | (86,089) | ||||
Contributions from noncontrolling interest | 107,942 | 9,567 | 9,567 | 98,375 | |||
Distributions to noncontrolling interest | (5,479) | (5,479) | |||||
Sale of interest in joint venture | (92,030) | (92,030) | |||||
Balance (in shares) at Dec. 31, 2020 | 65,301,088 | ||||||
Balance at end of period at Dec. 31, 2020 | 1,003,190 | 1,003,190 | $ 653 | 1,010,819 | 224,226 | (232,508) | 0 |
Increase (Decrease) in Stockholders' Equity | |||||||
Net income (loss) | 119,682 | 119,682 | 119,682 | 0 | |||
Share grants (in shares) | 139,800 | ||||||
Share grants | 2,332 | 2,332 | $ 1 | 2,331 | |||
Share repurchases (in shares) | (35,596) | ||||||
Share repurchases | (922) | (922) | (922) | ||||
Share forfeitures (in shares) | (700) | ||||||
Share forfeitures | (4) | (4) | (4) | ||||
Distributions to common shareholders | (86,236) | (86,236) | (86,236) | ||||
Balance (in shares) at Dec. 31, 2021 | 65,404,592 | ||||||
Balance at end of period at Dec. 31, 2021 | $ 1,038,042 | $ 1,038,042 | $ 654 | $ 1,012,224 | $ 343,908 | $ (318,744) | $ 0 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $ 119,682 | $ 81,205 | $ 52,498 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 32,457 | 43,821 | 38,177 |
Net amortization of debt issuance costs, premiums and discounts | 2,022 | 2,481 | 2,017 |
Amortization of acquired real estate leases and assumed real estate lease obligations | 16,656 | 24,573 | 21,465 |
Amortization of deferred leasing costs | 938 | 1,357 | 1,113 |
Straight line rental income | (7,263) | (9,041) | (4,345) |
Gain on early extinguishment of debt | 0 | (120) | 0 |
Gain on sale of property | (12,054) | (23,996) | 0 |
Other non-cash expenses | 2,328 | 2,331 | 1,109 |
Joint venture distributions | 2,640 | 0 | 0 |
Equity in earnings of investees | (40,918) | (529) | (666) |
Change in assets and liabilities: | |||
Rents receivable | 54 | (2,907) | (1,497) |
Deferred leasing costs | (4,694) | (2,443) | (1,457) |
Other assets | (3,434) | (1,068) | (594) |
Due from related persons | 2,665 | (3,871) | (114) |
Accounts payable and other liabilities | 2,525 | 2,613 | 3,095 |
Rents collected in advance | 583 | 279 | 3,438 |
Security deposits | (3,443) | 12 | 550 |
Due to related persons | (94) | (133) | 845 |
Net cash provided by operating activities | 110,650 | 114,564 | 116,300 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Real estate acquisitions and deposits | (134,730) | (115,813) | (884,570) |
Real estate improvements | (4,911) | (5,857) | (17,157) |
Proceeds from sale of properties to joint venture, net | 160,506 | 0 | 0 |
Proceeds from sale of properties | 1,206 | 10,578 | 0 |
Proceeds from sale of joint venture interests | 804 | 106,283 | 0 |
Distributions in excess of earnings from Affiliates Insurance Company | 0 | 287 | 8,334 |
Net cash provided by (used in) investing activities | 22,875 | (4,522) | (893,393) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from issuance of mortgage notes payable | 0 | 0 | 1,000,000 |
Borrowings under revolving credit facility | 301,000 | 234,000 | 744,000 |
Repayments of revolving credit facility | (340,000) | (323,000) | (847,000) |
Repayment of mortgage note payable | 0 | (48,750) | 0 |
Payment of debt issuance costs | (804) | 0 | (8,775) |
Proceeds from noncontrolling interest, net | 0 | 107,942 | 0 |
Distributions to noncontrolling interest | 0 | (5,479) | 0 |
Distributions to common shareholders | (86,236) | (86,089) | (85,937) |
Repurchase of common shares | (922) | (382) | (253) |
Net cash (used in) provided by financing activities | (126,962) | (121,758) | 802,035 |
Increase (Decrease) cash, cash equivalents and restricted cash | 6,563 | (11,716) | 24,942 |
Cash, cash equivalents and restricted cash at beginning of period | 22,834 | 34,550 | 9,608 |
Cash, cash equivalents and restricted cash at end of period | 29,397 | 22,834 | 34,550 |
SUPPLEMENTAL DISCLOSURES: | |||
Interest paid | 33,278 | 50,433 | 46,072 |
Income taxes paid | 485 | 209 | 164 |
Interest capitalized | 0 | 0 | 187 |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
Real estate, net | 0 | (631,879) | 0 |
Mortgage notes, net | 0 | 403,160 | 0 |
Real estate acquired by assumption of mortgage note payable | 0 | 0 | (56,980) |
Assumption of mortgage note payable | 0 | 0 | 56,980 |
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH | |||
Cash and cash equivalents | 22,834 | 28,415 | |
Restricted cash | 0 | 0 | 6,135 |
Total cash, cash equivalents and restricted cash shown in the statements of cash flows | 29,397 | 22,834 | 34,550 |
AIC | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Joint venture distributions | $ 0 | $ 0 | 666 |
Equity in earnings of investees | $ (666) |
Organization
Organization | 12 Months Ended |
Dec. 31, 2021 | |
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 of December 31, 2021, our portfolio was comprised of 288 wholly owned properties. The 288 properties consisted of 226 buildings, leasable land parcels and easements containing approximately 16.7 million rentable square feet (all square footage amounts included within this Annual Report on Form 10-K are unaudited) that were primarily industrial lands located on the island of Oahu, HI and 62 buildings containing approximately 17.3 million rentable square feet that were industrial and logistics properties located in 30 other states. As of December 31, 2021, we also owned a 22% equity interest in an unconsolidated joint venture that owns 18 properties located in 12 states in the mainland United States containing approximately 11.7 million rentable square feet. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
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 intercompany transactions and balances with or among our consolidated subsidiaries have been eliminated. Real Estate Properties. We record properties at cost. 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 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 $781, $791 and $1,195 during the years ended December 31, 2021, 2020 and 2019, 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 $17,437, $25,364 and $22,661 during the years ended December 31, 2021, 2020 and 2019, 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, 2021 and 2020, our acquired real estate leases and assumed real estate lease obligations were as follows: December 31, 2021 2020 Acquired real estate leases: Capitalized above market lease values $ 20,725 $ 27,323 Less: accumulated amortization (13,225) (18,400) Capitalized above market lease values, net 7,500 8,923 Lease origination value 122,945 135,453 Less: accumulated amortization (67,004) (60,732) Lease origination value, net 55,941 74,721 Acquired real estate leases, net $ 63,441 $ 83,644 Assumed real estate lease obligations: Capitalized below market lease values $ 33,674 $ 33,927 Less: accumulated amortization (21,239) (19,297) Assumed real estate lease obligations, net $ 12,435 $ 14,630 As of December 31, 2021, the weighted average amortization periods for capitalized above market lease values, lease origination value and capitalized below market lease values were 10.5 years, 6.2 years, and 11.8 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, 2021 are estimated to be $12,236 in 2022, $10,891 in 2023, $7,036 in 2024, $4,570 in 2025, $4,052 in 2026 and $12,221 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. The future net undiscounted cash flows are subjective and are based in part on assumptions regarding hold periods, market rents and terminal capitalization rates. 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, 2021 and 2020. 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 both December 31, 2021 and 2020, accrued environmental remediation costs of $6,940 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. Restricted Cash. Restricted cash consists of amounts escrowed for future capital expenditures as required by certain of our mortgage notes. Deferred Leasing Costs. Deferred leasing costs include capitalized brokerage costs and inducements associated with our entering leases. We amortize deferred leasing costs, which are included in depreciation and amortization expense, and inducements, which are included as a reduction to rental income, each on a straight line basis over the terms of the respective leases. Legal costs associated with the execution of our leases are expensed as incurred and included in general and administrative expenses in our consolidated statements of comprehensive income. Deferred leasing costs totaled $12,918 and $8,116 at December 31, 2021 and 2020, respectively, and accumulated amortization of deferred leasing costs totaled $4,035 and $3,521 at December 31, 2021 and 2020, respectively. Future amortization of deferred leasing costs to be recognized during the current terms of our existing leases as of December 31, 2021, are estimated to be $1,222 in 2022, $1,017 in 2023, $953 in 2024, $885 in 2025, $786 in 2026 and $4,020 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, 2021 and 2020, we had debt issuance costs for our revolving credit facility totaling $6,711 and $5,907, respectively, and accumulated amortization of debt issuance costs for our revolving credit facility were $5,907 and $4,430, respectively. Debt issuance costs, net of accumulated amortization, for our mortgage notes payable are presented as a direct deduction from the associated debt liability in our consolidated balance sheets. As of December 31, 2021 and 2020, we had debt issuance costs, net of accumulated amortization, of $3,876 and $4,421, respectively, for certain of our mortgage notes payable. Future amortization of debt issuance costs to be recognized with respect to our revolving credit facility and mortgage notes payable as of December 31, 2021 are estimated to be $1,351 in 2022, $547 in 2023, $547 in 2024, $547 in 2025, $547 in 2026 and $1,141 thereafter. Equity Method Investments. We own a 22% equity interest in an unconsolidated joint venture which owns 18 properties, or our joint venture. The properties owned by our joint venture are encumbered by an aggr egate $406,980 of mo rtgage debts. We do not control the activities that are most significant to our joint venture and, as a result, we account for our investment in our joint venture under the equity method of accounting under the fair value option. See Notes 3 and 6 for more information regarding our joint venture. We previously accounted for our investment in Affiliates Insurance Company, or AIC, until AIC was dissolved on February 13, 2020. Significant influence was present through common representation on the boards of trustees or directors of us and AIC. See Note 10 for more information regarding our investment in AIC. Revenue Recognition. We are a lessor of industrial and logistics properties. Our leases provide our tenants with the contractual right to use and economically benefit from all the physical space specified in the leases; therefore, we have determined to evaluate our leases as lease arrangements. Our leases provide for base rent payments and in addition may include variable payments. Rental income from operating leases, including any payments derived by index or market based indices, is recognized on a straight line basis over the lease term when we have determined that the collectability of substantially all the lease payments is probable. Some of our leases have options to extend or terminate the lease exercisable at the option of our tenants, which are considered when determining the lease term. Certain of our leases contain non-lease components, such as property level operating expenses and capital expenditures reimbursed by our tenants as well as other required lease payments. We have determined that all our leases qualify for the practical expedient to not separate the lease and non-lease components because (i) the lease components are operating leases and (ii) the timing and pattern of recognition of the non-lease components are the same as those of the lease components. We apply Accounting Standards Codification, or ASC, 842, Leases , to the combined component. Income derived by our leases is recorded in rental income in our consolidated statements of comprehensive income. Certain tenants are obligated to pay directly their obligations under their leases for insurance, real estate taxes and certain other expenses. These obligations, 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 any such obligations under the applicable lease defaults on such lease or if it is deemed probable that the tenant will fail to pay for such obligations, we would record a liability for such obligations. Income Taxes. We have elected to be taxed as a REIT under the United States Internal Revenue Code of 1986, as amended, and, accordingly, we generally are not, and will not be, subject to federal income taxes provided we distribute our taxable income and meet certain organization and operating requirements to qualify for taxation as a REIT. We are, however, 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. 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. Unvested share awards and other potentially dilutive common shares and the related impact on earnings are considered when calculating diluted earnings per share. |
Real Estate Investments
Real Estate Investments | 12 Months Ended |
Dec. 31, 2021 | |
Real Estate [Abstract] | |
Real Estate Investments | Real Estate Investments As of December 31, 2021, our portfolio was comprised of 288 wholly owned properties containing approximately 33,991,000 rentable square feet, including 226 buildings, leasable land parcels and easements containing approximately 16,729,000 rentable square feet of primarily industrial lands located on the island of Oahu, HI, or our Hawaii Properties, and 62 properties containing approximately 17,262,000 rentable square feet of industrial properties located in 30 other states, or our Mainland Properties. As of December 31, 2021, we also owned a 22% equity interest in an unconsolidated joint venture which owns 18 properties located in 12 states in the mainland United States totaling approximately 11,726,000 rentable square feet that were 100% leased. 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, 2021, 2020 and 2019, approximately 50.6%, 42.2% and 43.9%, respectively, of our rental income were from our Hawaii Properties. In addition, subsidiaries of Amazon.com, Inc. that are tenants at certain of our Mainland Properties accounted for $21,440, $38,241 and $31,623 of our rental income for the years ended December 31, 2021, 2020 and 2019, respectively. During the year ended December 31, 2021, we committed $10,544 for expenditures related to tenant improvements and leasing costs for leases executed during the period for approximately 3,103,000 square feet. Committed, but unspent tenant related obligations based on existing leases as of December 31, 2021, were $2,224, of which $1,671 is expected to be spent during the next 12 months. Joint Venture Investments As of December 31, 2021, we have an equity investment in a joint venture that consists of the following: ILPT Carrying Value of ILPT Investment at December 31, Number of Square Joint Venture Ownership 2021 Properties Location Feet 18 properties in 12 states 22% $ 143,021 18 Various 11,726,000 The following table provides a summary of the mortgage debts of our joint venture: Principal Balance at December 31, Joint Venture Coupon Rate (1) Maturity Date 2021 (2) Mortgage note payable (secured by one property in Florida) 3.60% 10/1/2023 $ 56,980 Mortgage note payable (secured by 11 other properties in eight states) 3.33% 11/7/2029 350,000 Weighted Average/Total 3.37% $ 406,980 (1) Includes the effect of mark to market purchase accounting. (2) Amounts are not adjusted for our minority interest. In the first quarter of 2020, we entered into agreements related to our joint venture for 12 of our properties in the mainland United States with an unrelated third party institutional investor and contributed those 12 properties to our joint venture. We received an aggregate amount of $108,676, which includes $734 of costs associated with the formation of our joint venture from that investor for a 39% equity interest in our joint venture and we retained the remaining 61% equity interest in our joint venture. In November 2020, we sold an additional 39% equity interest from our remaining 61% equity interest in our joint venture to a second unrelated third party institutional investor for $108,812, which included certain costs associated with the formation of our joint venture. We deconsolidated the net assets of our joint venture and recognized a net gain on sale of $23,415 on this transaction for the year ended December 31, 2020, which is included in gain on sale of real estate in our consolidated statements of comprehensive income. After giving effect to the sale in November 2020, we continue to own a 22% equity interest in our joint venture, but have determined that we are no longer the primary beneficiary. Effective as of the date of such sale, we deconsolidated our joint venture and, since that time, we account for our joint venture using the equity method of accounting under the fair value option. Our initial investment amount was based on an aggregate property valuation of $680,000, less $406,980 of existing mortgage debts on the properties that our joint venture assumed. We used the net proceeds from the sale of our equity interests in the joint venture to reduce outstanding borrowings under our revolving credit facility. See Note 6 for more information regarding the use of the equity method for our joint venture. We recognized a noncontrolling interest in our consolidated balance sheet of $98,375 as of the completion of this transaction in the first quarter of 2020, which was equal to 39% of our aggregate carrying value of the total equity of the properties immediately prior to our respective contributions of the properties to our joint venture. The difference between the net proceeds received from this transaction and the noncontrolling interest recognized, which was $9,567, has been reflected as an increase in additional paid in capital in our consolidated balance sheet. The portion of our joint venture's net loss not attributable to us, or $866 for the year ended December 31, 2020 is reported as noncontrolling interest in our consolidated statements of comprehensive income. During the year ended December 31, 2020, our joint venture made aggregate cash distributions of $14,049, $5,479 to the first joint venture investor, which was reflected as a decrease in total equity attributable to noncontrolling interest and $8,570 to us. We determined that, while we owned a 61% equity interest in our joint venture, our joint venture was a variable interest entity, or VIE, as defined under the Consolidation Topic of the Financial Accounting Standards Boards, or FASB, ASC. We concluded that we must consolidate this VIE, and we did so, until we sold an additional 39% equity interest in our joint venture in November 2020. We reached this determination because we were the entity with the power to direct the activities that most significantly impacted the VIE's economic performance and we had the obligation to absorb losses of, and the right to receive benefits from, the VIE that could be significant to the VIE, and therefore were the primary beneficiary of the VIE. The joint venture investor's interest in this consolidated entity was reflected as noncontrolling interest in our consolidated financial statements. In December 2021, we sold six recently acquired properties to our existing joint venture for an aggregate price of approximately $205,789. We received proceeds from the investors, who own an aggregate of 78% equity interest in the joint venture, for an aggregate amount of $160,516 and recognized a net gain on sale of $11,114 on this transaction, which is included in gain on sale of real estate in our consolidated statements of comprehensive income. We used the $160,516 of proceeds from this transaction to reduce amounts outstanding under our $750,000 unsecured revolving credit facility. During the year ended December 31, 2021, we recorded an increase in the fair value of our investment in our joint venture of $45,273 as equity in earnings of investees in our consolidated statements of comprehensive income. In addition, during the year ended December 31, 2021 our joint venture made aggregate cash distributions of $2,640 to us. See Note 6 for more information regarding our joint venture. 2021 Acquisitions: During the year ended December 31, 2021, we acquired four industrial properties and one parcel of developable land containing 1,644,508 rentable square feet for an aggregate purchase price of $134,730, including acquisition related costs of $1,030. These acquisitions were accounted for as acquisitions of assets. We allocated the purchase prices for these acquisitions based on the estimated fair value of the acquired assets and assumed liabilities as follows: Number Rentable Buildings Acquired Acquired of Square Purchase and Real Estate Real Estate Date Market Area Properties Feet Price Land Improvements Leases Lease Obligations May 2021 Dallas, TX 1 — $ 2,319 $ 2,319 $ — $ — $ — June 2021 Columbus, OH 1 357,504 31,762 1,491 27,407 2,864 — August 2021 Memphis, TN 3 1,287,004 100,649 5,922 87,600 7,192 (65) 5 1,644,508 $ 134,730 $ 9,732 $ 115,007 $ 10,056 $ (65) Monmouth Transaction: In November 2021, we, our wholly owned subsidiary and Monmouth Real Estate Investment Corporation, or Monmouth, entered into an Agreement and Plan of Merger, pursuant to which we have agreed to acquire all of the outstanding shares of Monmouth for $21.00 per Monmouth share in cash, in a transaction valued at approximately $4,000,000, including the assumption of existing Monmouth mortgage debt, as well as transaction costs, referred to as the Monmouth Transaction. The Monmouth Transaction will add 126 new, Class A, single tenant, net leased, e-commerce focused industrial properties containing over 26 million square feet with a weighted average remaining lease term of approximately eight years to our portfolio. The Monmouth Transaction is expected to close in the first quarter of 2022. The Monmouth Transaction is subject to the satisfaction of conditions, including the receipt of requisite approval by Monmouth’s stockholders. We cannot be sure that these conditions will be satisfied. Accordingly, the Monmouth Transaction may not close when expected or at all, or the terms of the Monmouth Transaction may change. 2020 Acquisitions: During the year ended December 31, 2020, we acquired two industrial properties containing a combined 1,465,846 rentable square feet for an aggregate purchase price of $115,813, including acquisition related costs of $332. These acquisitions were accounted for as acquisitions of assets. We allocated the purchase prices for these acquisitions based on the estimated fair value of the acquired assets and assumed liabilities as follows: Number Rentable Buildings Acquired of Square Purchase and Real Estate Date Market Area Properties Feet Price Land Improvements Leases February 2020 Phoenix, AZ 1 820,384 $ 71,628 $ 11,214 $ 54,676 $ 5,738 December 2020 Kansas City, KS 1 645,462 44,185 5,740 32,701 5,744 2 1,465,846 $ 115,813 $ 16,954 $ 87,377 $ 11,482 2019 Acquisitions: During the year ended December 31, 2019, we acquired 30 industrial properties containing a combined 13,288,180 rentable square feet for an aggregate purchase price of $941,550, including acquisition related costs of $4,800. These acquisitions were accounted for as acquisitions of assets. We allocated the purchase prices for these acquisitions based on the estimated fair value of the acquired assets and assumed liabilities as follows: Acquired Acquired Discount Number Rentable Buildings Real Real Estate on of Square Purchase and Estate Lease Assumed Date Market Area Properties Feet Price Land Improvements Leases Obligations Debt February 2019 2 mainland states 7 3,708,343 $ 250,276 $ 19,558 $ 205,811 $ 24,907 $ — $ — April 2019 Indianapolis, IN 1 493,500 $ 30,517 $ 2,817 $ 24,836 $ 2,864 $ — $ — April 2019 12 mainland states 20 8,694,321 $ 628,457 $ 52,546 $ 519,829 $ 56,715 $ (1,965) $ 1,332 August 2019 Columbus, OH 2 392,016 $ 32,300 $ 2,393 $ 27,363 $ 2,544 $ — $ — 30 13,288,180 $ 941,550 $ 77,314 $ 777,839 $ 87,030 $ (1,965) $ 1,332 2021 Disposition: As a result of an eminent domain taking in September 2021, we sold a portion of a land parcel located in Rock Hill, South Carolina for $1,400, excluding closing costs, resulting in a net gain on sale or real estate of $940. 2020 Disposition: During the year ended December 31, 2020, we sold one property located in Virginia containing approximately 308,000 rentable square feet for a sales price of $10,775, excluding closing costs. The sale of this property, as presented in the table below, does not represent a significant disposition or a strategic shift. As a result, the results of operations of this property are included in continuing operations through the date of sale in our consolidated statements of comprehensive income. Number of Square Gross Gain on Sale of Date of Sale Properties Location Feet Sale Price (1) Real Estate December 2020 1 Winchester, VA 308,217 $ 10,775 $ 581 (1) Gross sale price is the gross contract price, adjusted for purchase price adjustments, if any, and excluding closing costs. We did not dispose of any properties during the year ended December 31, 2019. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Leases | Leases Rental income from operating leases, including payments derived by index or market-based indices, is recognized on a straight line basis over the lease term when we have determined that the collectability of substantially all of the lease payments is probable. We increased rental income by $7,263, $9,041 and $4,345 to record revenue on a straight line basis during the years ended December 31, 2021, 2020 and 2019, respectively. We do not include in our measurement of our lease receivables certain variable payments, including payments determined by changes in the index or market-based indices after the inception of the lease, certain tenant reimbursements and other income until the specific events that trigger the variable payments have occurred. Such payments totaled $38,732, $45,858 and $40,898 for the years ended December 31, 2021, 2020 and 2019, respectively, of which tenant reimbursements totaled $37,379, $44,878 and $38,755, respectively. The following operating lease maturity analysis presents the future contractual lease payments to be received by us through 2064 as of December 31, 2021: Year Amount 2022 $ 168,063 2023 158,620 2024 144,767 2025 132,238 2026 126,105 Thereafter 1,031,288 $ 1,761,081 |
Indebtedness
Indebtedness | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Indebtedness | Indebtedness As of December 31, 2021 and 2020, our outstanding indebtedness consisted of the following: Net Book Value Principal Balance as of of Collateral December 31, Interest At December 31, 2021 (1) 2020 (1) Rate Maturity 2021 Unsecured revolving credit facility (2) $ 182,000 $ 221,000 1.41 % Jun 2022 $ — Mortgage notes payable (secured by 186 properties in Hawaii) 650,000 650,000 4.31 % Feb 2029 491,235 832,000 871,000 $ 491,235 Unamortized debt issuance costs (3,876) (4,421) $ 828,124 $ 866,579 (1) The principal balances are the amounts stated in contracts. In accordance with GAAP, our carrying values and recorded interest expense may be different because of market conditions at the time we assumed certain of these debts. (2) The maturity date of our revolving credit facility is June 29, 2022 and we have the option to extend the maturity date for one six month period through December 29, 2022. We have a $750,000 unsecured revolving credit facility that is available for our general business purposes, including acquisitions. The maturity date of our revolving credit facility was December 29, 2021. In November 2021, we exercised our first option to extend the maturity date of the facility by six months to June 29, 2022. We have an additional option to extend the maturity date of our revolving credit facility for one six month period, subject to payment of extension fees and satisfaction of other conditions. 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 are also required to pay a commitment fee on the unused portion 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, 2021 and 2020, interest payable on the amount outstanding under our revolving credit facility was LIBOR plus 130 basis points and 155 basis points, respectively. As of December 31, 2021 and 2020, the interest rate payable on borrowings under our revolving credit facility was 1.41% and 1.70%, respectively. The weighted average interest rate for borrowings under our revolving credit facility was 1.44%, 2.36% and 3.68% for the years ended December 31, 2021, 2020 and 2019, respectively. As of December 31, 2021 and February 11, 2022, we had $182,000 outstanding under our revolving credit facility, and $568,000 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 The RMR Group LLC, or 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, 2021. In January 2019, we obtained a $650,000 mortgage loan secured by 186 of our properties located on the island of Oahu, HI containing approximately 9.6 million square feet. This non-amortizing loan matures on February 7, 2029 and requires monthly payments of interest only at a fixed rate of 4.31% per annum. We used the proceeds from this loan to reduce outstanding borrowings under our revolving credit facility and to fund acquisitions. In connection with the acquisition of a portfolio of 20 industrial properties in April 2019, as discussed in Note 3, we assumed a $56,980 mortgage note secured by one property containing approximately 1.0 million square feet located in Ruskin, FL. This non-amortizing loan matures on October 1, 2023 and requires monthly payments of interest only at a fixed rate of 3.60% per annum. We recorded a $1,332 discount in connection with this assumed mortgage note, which increased its effective interest rate to 4.22% per annum. We recorded this discount as we believed the interest rate payable on this mortgage note was below the rate we would have had to pay for debt with the same maturity and similar other terms at the time we assumed this obligation. In October 2019, we obtained a $350,000 mortgage loan secured by 11 of our properties located in eight states containing an aggregate of approximately 8.2 million rentable square feet. This non-amortizing loan matures in November 2029 and requires monthly payments of interest at a fixed rate of 3.33% per annum. We used the proceeds from this loan to reduce outstanding borrowings under our revolving credit facility. We no longer include the $56,980 secured mortgage note or the $350,000 mortgage loan in our consolidated balance sheet following the deconsolidation of the net assets of our formerly majority-owned joint venture discussed in Note 3. In May 2020, we prepaid at par plus accrued interest a mortgage note secured by one of our properties with an outstanding principal balance of approximately $48,750, an annual interest rate of 3.48% and a maturity date in November 2020. As a result of the prepayment of this mortgage note, we recorded a gain on early extinguishment of debt of $120 for the year ended December 31, 2020 to write off unamortized premiums. The required principal payments due during the next five years and thereafter under all our outstanding debt as of December 31, 2021 are as follows: Principal Year Payment 2022 $ 182,000 2023 — 2024 — 2025 — 2026 — Thereafter 650,000 $ 832,000 (1) (1) Total debt outstanding as of December 31, 2021, including unamortized debt issuance costs of $3,876, was $828,124. |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities | Fair Value of Assets and Liabilities Our financial instruments include cash and cash equivalents, restricted cash, rents receivable, our revolving credit facility, mortgage notes payable, accounts payable, security deposits, rents collected in advance and amounts due from or to related persons. At December 31, 2021 and 2020, the fair value of our financial instruments approximated their carrying values in our consolidated financial statements, due to the short term nature or floating interest rates, except as follows: At December 31, 2021 At December 31, 2020 Carrying Estimated Carrying Estimated Value (1) Fair Value Value (1) Fair Value Mortgage notes payable $ 646,124 $ 709,198 $ 645,579 $ 730,119 (1) Includes unamortized debt issuance costs, premiums and discounts of $3,876 and $4,421 as of December 31, 2021 and 2020, respectively. We estimate the fair value of our mortgage notes payable using discounted cash flow analyses 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. The table below presents certain of our assets measured on a recurring basis at fair value categorized by the level of inputs as defined in the fair value hierarchy under GAAP, used in the valuation of each asset: Quoted Significant Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Recurring fair value measurements At December 31, 2021 Investment in unconsolidated joint venture (1) $ 143,021 $ — $ — $ 143,021 At December 31, 2020 Investment in unconsolidated joint venture $ 60,590 $ — $ — $ 60,590 (1) We own a 22% equity interest in a joint venture that owns 18 properties and is included in investment in unconsolidated joint venture in our consolidated balance sheet, and is reported at fair value, which is based on significant unobservable inputs (Level 3 inputs). The significant unobservable inputs used in the fair value are discount rates of between 5.25% and 6.50%, exit capitalization rates of between 4.50% and 5.50%, direct capitalization rates of between 4.00% and 4.50%, holding periods of approximately 10 years and market rents. The assumptions are based on the location, type and nature of each property, and current and anticipated market conditions, which are derived from appraisers, industry publications and our experience. See Note 3 for further information regarding our joint venture. |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [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 years ended December 31, 2021, 2020 and 2019, we awarded to our officers and other employees of RMR LLC annual share awards of 118,800, 108,600 and 104,200 of our common shares, respectively, valued at $3,086, $2,460 and $2,260, in aggregate, respectively. In accordance with our Trustee compensation arrangements, we awarded each of our six Trustees 3,500 of our common shares in 2021 with an aggregate value of $538 ($90 per Trustee) as part of their annual compensation. During the year ended December 31, 2020, we awarded each of our then seven Trustees 3,500 of our common shares with an aggregate value of $460 ($66 per Trustee) as part of their annual compensation. Also in 2020, in connection with the election of two of our Trustees, we awarded 3,000 of our common shares to each such Trustee with an aggregate value of $141 ($71 per Trustee) as part of their annual compensation. During 2019, we awarded each of our then five Trustees 3,000 of our common shares with an aggregate value of $281 ($56 per Trustee) as part of their annual compensation. The values of the share awards were based upon the closing price of our common shares trading on The Nasdaq Stock Market LLC, or Nasdaq, on the dates of awards. The common shares awarded to our Trustees vested immediately. The common shares awarded to our officers and certain other employees of RMR LLC vest in five equal annual installments beginning on the date of award. We recognize share forfeitures as they occur. We include the value of awarded shares in general and administrative expenses ratably over the vesting period. A summary of shares awarded, vested and forfeited under the terms of the 2018 Plan for the years ended December 31, 2021, 2020 and 2019 is as follows: Year Ended December 31, 2021 December 31, 2020 December 31, 2019 Weighted Weighted Weighted Average Average Average Number Grant Date Number Grant Date Number Grant Date of Shares Fair Value of Shares Fair Value of Shares Fair Value Unvested at beginning of year 162,200 $ 22.37 108,200 $ 22.08 43,280 $ 23.33 Granted 139,800 25.93 139,100 22.01 119,200 21.32 Vested (108,920) 23.78 (84,520) 21.41 (52,880) 20.78 Forfeited (700) 22.24 (580) 22.20 (1,400) 22.39 Unvested at end of year 192,380 $ 24.15 162,200 $ 22.37 108,200 $ 22.08 The 192,380 unvested shares as of December 31, 2021 are scheduled to vest as follows: 66,520 shares in 2022, 59,320 shares in 2023, 42,780 shares in 2024 and 23,760 in 2025. As of December 31, 2021, the estimated future compensation expense for the unvested shares was approximately $4,188. The weighted average period over which the compensation expense will be recorded is approximately 22 months. During the years ended December 31, 2021, 2020 and 2019, we recorded $2,329, $2,331 and $1,109 respectively, of compensation expense related to the 2018 Plan. At December 31, 2021, 3,595,408 common shares remain available for issuance under the 2018 Plan. Common Share Purchases: During the years ended December 31, 2021, 2020 and 2019, we repurchased an aggregate of 35,596, 18,060 and 11,963 of our common shares, respectively, at weighted average prices of $25.91, $21.16 and $21.19 per common share, respectively, from certain of our Trustees and certain current and former officers and employees of RMR LLC in satisfaction of tax withholding and payment obligations in connection with the vesting of awards of our common shares. Distributions: During the years ended December 31, 2021, 2020 and 2019, we paid distributions on our common shares as follows: Annual Per Characterization of Distribution Share Total Return of Ordinary Capital Year Distribution Distribution Capital Income Gain 2021 $ 1.32 $ 86,236 — % 93.2 % 6.8 % 2020 $ 1.32 $ 86,089 — % 71.0 % 29.0 % 2019 $ 1.32 $ 85,937 21.8 % 78.2 % — % On January 13, 2022, we declared a regular quarterly distribution of $0.33 per common share, or approximately $21,600, to shareholders of record on January 24, 2022. We expect to pay this distribution to our shareholders on or about February 17, 2022. |
Per Common Shares Amounts
Per Common Shares Amounts | 12 Months Ended |
Dec. 31, 2021 | |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | |
Per Common Shares Amounts | Per Common Share Amounts We calculate basic earnings per common share by dividing net income attributable to common shareholders by the weighted average number of our common shares outstanding during the period. We calculate diluted earnings per share using the more dilutive of the two class method or the treasury stock method. Unvested common share awards and other potentially dilutive common shares, and the related impact on earnings, are considered when calculating diluted earnings per share. The calculation of basic and diluted earnings per share is as follows: Year Ended December 31, 2021 2020 2019 Numerators: Net income attributable to common shareholders $ 119,682 $ 82,071 $ 52,498 Income attributable to unvested participating securities (307) (154) (48) Net income attributable to common shareholders used in calculating earnings per share $ 119,375 $ 81,917 $ 52,450 Denominators: Weighted average common shares for basic earnings per share 65,169 65,104 65,049 Effect of dilutive securities: unvested share awards 42 10 6 Weighted average common shares for diluted earnings per share 65,211 65,114 65,055 Net income attributable to common shareholders per common share - basic $ 1.83 $ 1.26 $ 0.81 Net income attributable to common shareholders per common share - diluted $ 1.83 $ 1.26 $ 0.81 |
Business and Property Managemen
Business and Property Management Agreements with RMR LLC | 12 Months Ended |
Dec. 31, 2021 | |
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. We have two agreements with RMR LLC to provide management services to us: (1) a business management agreement, which relates to our business generally; and (2) a property management agreement, which relates to our property level operations. 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, 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 August 1, 2021, we and RMR LLC amended our business management agreement to replace the benchmark index used in the calculation of incentive management fees. Pursuant to the amendment, for periods beginning on and after August 1, 2021, the MSCI U.S. REIT/Industrial REIT Index replaced the discontinued SNL U.S. REIT Industrial Index and will be used to calculate benchmark returns per share for purposes of determining any incentive management fee payable by us to RMR LLC. For periods prior to August 1, 2021, the SNL U.S. REIT Industrial Index will continue to be used. Accordingly, the calculation of incentive management fees for the next two measurement periods will continue to use the SNL U.S. REIT Industrial Index in calculating the benchmark returns for periods through July 31, 2021. This change of index was due to S&P Global ceasing to publish the SNL U.S. REIT Industrial Index. 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 we issue or repurchase our common shares, or our common shares are forfeited, 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) and 2019 (the period beginning on January 12, 2018 and ending on December 31, 2019). ◦ 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 in any year, 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 in any year, determined on a cumulative basis (i.e., between 200 basis points and 500 basis points per year multiplied by the number of years in the measurement period and 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 $10,562, $12,983 and $11,897 for the years ended December 31, 2021, 2020 and 2019. The net business management fees we recognized for the year ended December 31, 2020 include $1,005 of management fees paid to RMR LLC by our joint venture that was a consolidated subsidiary of ours until November 2020. See Note 3 for further information regarding this joint venture and the fee payments to RMR LLC with respect to this joint venture. The net business management fees we recognized are included in general and administrative expenses in our consolidated statements of comprehensive income for the years ended December 31, 2021, 2020 and 2019. We did not incur any incentive management fee pursuant to our business management agreement for the years ended December 31, 2021, 2020 and 2019. • 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 $6,606, $7,472 and $7,548 for the years ended December 31, 2021, 2020 and 2019, respectively. For the years ended December 31, 2021, 2020 and 2019, $6,395, $7,267 and $6,697, respectively, of the total net property management and construction supervision fees were expensed to other operating expenses in our consolidated statements of comprehensive income and $211, $205 and $851, respectively, were capitalized as building improvements in our consolidated balance sheets. The amounts capitalized are being depreciated over the estimated useful lives of the related capital assets. • 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 Audit Committee appoints our Director of Internal Audit and our Compensation Committee approves the costs of our internal audit function. Our property level operating expenses are generally incorporated into rents charged to our tenants, including certain payroll and related costs incurred by RMR LLC. We reimbursed RMR LLC $4,786, $4,948 and $4,269 for these expenses and costs for the years ended December 31, 2021, 2020 and 2019, respectively. These amounts are included in other operating expenses and general and administrative expenses, as applicable, for these periods. • Term . Our management agreements with RMR LLC have terms that end on December 31, 2041, 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. Management Agreements between Our Joint Venture and RMR LLC. As described further in Note 3, we own a 22% equity interest in our joint venture. RMR LLC provides management services to our joint venture. Prior to November 2020, our joint venture was our consolidated subsidiary and, as such, we were obligated to pay fees under our management agreements with RMR LLC regarding our joint venture; however, any fees paid by that joint venture were credited against the fees payable by us to RMR LLC. Starting in November 2020, our joint venture is no longer our consolidated subsidiary and, as a result, we are no |
Related Person Transactions
Related Person Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Person Transactions | Related Person Transactions We have relationships and historical and continuing transactions with RMR LLC, The RMR Group Inc., or RMR Inc., 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. The Chair of our Board of Trustees and one of our Managing Trustees, Adam Portnoy, is the sole trustee, an officer and the controlling shareholder of ABP Trust, which is the controlling shareholder of RMR Inc., a managing director and the president and chief executive officer of RMR Inc. and an officer and employee of RMR LLC. John Murray, our other Managing Trustee and our President and Chief Executive Officer, also serves as an officer and employee of RMR LLC, and each of our other officers is also an officer and employee of RMR LLC. Some of 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 as chair of the boards and as a managing director or managing trustee of these public companies. Other officers of RMR LLC, including Mr. Murray and certain of our other officers, serve as managing trustees, managing directors or officers of certain of these companies. Our Manager, RMR LLC . We have two agreements with RMR LLC to provide management services to us. See Note 9 for further information regarding our management agreements with RMR LLC. Share Awards to RMR LLC Employees . As described in Note 7, 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 to our Managing Trustees, as Trustee compensation, and the fees we paid to RMR LLC. See Note 7 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 obligations on the vesting of share awards. AIC . Until its dissolution on February 13, 2020, we, ABP Trust and five other companies to which RMR LLC provides management services owned AIC in equal amounts. We and the other AIC shareholders historically participated in a combined property insurance program arranged and insured or reinsured in part by AIC until June 30, 2019. We paid aggregate annual premiums, including taxes and fees, of $266 in connection with this insurance program for the policy year ended June 30, 2019. In connection with AIC’s dissolution, we and each other AIC shareholder received an initial liquidating distribution of $9,000 from AIC in December 2019, an additional liquidating distribution of approximately $287 in June 2020 and a final liquidating distribution of $12 in December 2021. We recognized income related to our investment in AIC of $666 for the year ended December 31, 2019, which is presented as equity in earnings of investees in our consolidated statement of comprehensive income. We did not recognize any income related to our investment in AIC for the years ended December 31, 2021 or 2020. As of December 31, 2020, our investment in AIC had a carrying value of $12. This amount is included in other assets in our consolidated balance sheets. Our Joint Venture. As of December 31, 2020, our joint venture owed to us $2,665 for post-closing adjustments relating to our sale of some of our equity interests to a second third party institutional investor in November 2020. Our joint venture paid these amounts due to us during the year ended December 31, 2021. This amount is presented as due from related persons in our consolidated balance sheet. In December 2021, we sold six additional recently acquired properties to our joint venture. We received proceeds of approximately $160,516 from the other equity investors in connection with this sale. We and the other equity investors maintained our respective percentage equity interests in our joint venture following this transaction. As of December 31, 2021, we owed $225 to our joint venture for rents that we collected on the behalf of our joint venture. This amount is presented as due to related persons in our consolidated balance sheet. We paid these amounts to our joint venture in January 2022. See Note 3 for further information regarding our joint venture. TravelCenters of America Inc. In May 2021, we acquired a property located in the Dallas, Texas market from TravelCenters of America Inc., or TA, for a purchase price of $2,319, including acquisition related costs of $119. RMR LLC |
SCHEDULE III - REAL ESTATE AND
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION | 12 Months Ended |
Dec. 31, 2021 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION | SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2021 (dollars in thousands) Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings Buildings and Subsequent to 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 Properties $ 900 $ 3,485 $ — $ 901 $ 3,484 $ 4,385 $ (603) 1/29/2015 2013 2 955 Aeroplaza Drive Colorado Springs CO Mainland Properties 800 7,412 39 800 7,451 8,251 (1,292) 1/29/2015 2012 3/4 13400 East 39th Avenue and 3800 Wheeling Street Denver CO Mainland Properties 3,100 12,955 5 3,100 12,960 16,060 (2,243) 1/29/2015 1973 5 3870 Ronald Reagan Boulevard Johnstown CO Mainland Properties 2,780 9,722 (1) 2,780 9,721 12,501 (883) 4/9/2019 2007 6 150 Greenhorn Drive Pueblo CO Mainland Properties 200 4,177 — 200 4,177 4,377 (722) 1/29/2015 2013 7 2 Tower Drive Wallingford CT Mainland Properties 1,471 2,165 858 1,471 3,023 4,494 (992) 10/24/2006 1978 8 235 Great Pond Road Windsor CT Mainland Properties 2,400 9,469 — 2,400 9,469 11,869 (2,230) 7/20/2012 2004 9 10450 Doral Boulevard Doral FL Mainland Properties 15,225 28,102 — 15,225 28,102 43,327 (3,280) 6/27/2018 1996 10 2100 NW 82nd Avenue Miami FL Mainland Properties 144 1,297 454 144 1,751 1,895 (892) 3/19/1998 1987 11 1000 Mapunapuna Street Honolulu HI Hawaii Properties (A) 2,252 — — 2,252 — 2,252 — 12/5/2003 — 12 1001 Ahua Street Honolulu HI Hawaii Properties (A) 15,155 3,312 91 15,155 3,403 18,558 (1,524) 12/5/2003 — 13 1024 Kikowaena Place Honolulu HI Hawaii Properties (A) 1,818 — — 1,818 — 1,818 — 12/5/2003 — 14 1024 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,385 — — 1,385 — 1,385 — 12/5/2003 — 15 1027 Kikowaena Place Honolulu HI Hawaii Properties (A) 5,444 — — 5,444 — 5,444 — 12/5/2003 — 16 1030 Mapunapuna Street Honolulu HI Hawaii Properties (A) 5,655 — — 5,655 — 5,655 — 12/5/2003 — 17 1038 Kikowaena Place Honolulu HI Hawaii Properties (A) 2,576 — — 2,576 — 2,576 — 12/5/2003 — 18 1045 Mapunapuna Street Honolulu HI Hawaii Properties (A) 819 — — 819 — 819 — 12/5/2003 — 19 1050 Kikowaena Place Honolulu HI Hawaii Properties (A) 1,404 873 — 1,404 873 2,277 (394) 12/5/2003 — 20 1052 Ahua Street Honolulu HI Hawaii Properties (A) 1,703 — 240 1,703 240 1,943 (98) 12/5/2003 — 21 1055 Ahua Street Honolulu HI Hawaii Properties (A) 1,216 — — 1,216 — 1,216 — 12/5/2003 — 22 106 Puuhale Road Honolulu HI Hawaii Properties (A) 1,113 — 274 1,113 274 1,387 (97) 12/5/2003 1966 23 1062 Kikowaena Place Honolulu HI Hawaii Properties (A) 1,049 598 82 1,049 680 1,729 (276) 12/5/2003 — 24 1122 Mapunapuna Street Honolulu HI Hawaii Properties (A) 5,781 — — 5,781 — 5,781 — 12/5/2003 — 25 113 Puuhale Road Honolulu HI Hawaii Properties (A) 3,729 — — 3,729 — 3,729 — 12/5/2003 — 26 1150 Kikowaena Place Honolulu HI Hawaii Properties (A) 2,445 — — 2,445 — 2,445 — 12/5/2003 — 27 120 Mokauea Street Honolulu HI Hawaii Properties (A) 1,953 — 1,096 1,953 1,096 3,049 (188) 12/5/2003 1970 28 120 Sand Island Access Road Honolulu HI Hawaii Properties (A) 1,132 11,307 1,423 1,132 12,730 13,862 (5,295) 11/23/2004 2004 29 120B Mokauea Street Honolulu HI Hawaii Properties (A) 1,953 — — 1,953 — 1,953 — 12/5/2003 1970 30 125 Puuhale Road Honolulu HI Hawaii Properties (A) 1,630 — — 1,630 — 1,630 — 12/5/2003 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings Buildings and Subsequent to and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 31 125B Puuhale Road Honolulu HI Hawaii Properties (A) 2,815 — — 2,815 — 2,815 — 12/5/2003 — 32 1330 Pali Highway Honolulu HI Hawaii Properties (A) 1,423 — — 1,423 — 1,423 — 12/5/2003 — 33 1360 Pali Highway Honolulu HI Hawaii Properties (A) 9,170 — 161 9,170 161 9,331 (135) 12/5/2003 — 34 140 Puuhale Road Honolulu HI Hawaii Properties (A) 1,100 — 41 1,100 41 1,141 (3) 12/5/2003 — 35 142 Mokauea Street Honolulu HI Hawaii Properties (A) 2,182 — 1,576 2,182 1,576 3,758 (488) 12/5/2003 1972 36 148 Mokauea Street Honolulu HI Hawaii Properties (A) 3,476 — — 3,476 — 3,476 — 12/5/2003 — 37 150 Puuhale Road Honolulu HI Hawaii Properties (A) 4,887 — — 4,887 — 4,887 — 12/5/2003 — 38 151 Puuhale Road Honolulu HI Hawaii Properties (A) 1,956 — — 1,956 — 1,956 — 12/5/2003 — 39 158 Sand Island Access Road Honolulu HI Hawaii Properties (A) 2,488 — — 2,488 — 2,488 — 12/5/2003 — 40 165 Sand Island Access Road Honolulu HI Hawaii Properties (A) 758 — — 758 — 758 — 12/5/2003 — 41 179 Sand Island Access Road Honolulu HI Hawaii Properties (A) 2,480 — — 2,480 — 2,480 — 12/5/2003 — 42 180 Sand Island Access Road Honolulu HI Hawaii Properties (A) 1,655 — — 1,655 — 1,655 — 12/5/2003 — 43 1926 Auiki Street Honolulu HI Hawaii Properties (A) 2,872 — 1,722 2,872 1,722 4,594 (645) 12/5/2003 1959 44 1931 Kahai Street Honolulu HI Hawaii Properties (A) 3,779 — — 3,779 — 3,779 — 12/5/2003 — 45 197 Sand Island Access Road Honolulu HI Hawaii Properties (A) 1,238 — — 1,238 — 1,238 — 12/5/2003 — 46 2001 Kahai Street Honolulu HI Hawaii Properties (A) 1,091 — — 1,091 — 1,091 — 12/5/2003 — 47 2019 Kahai Street Honolulu HI Hawaii Properties (A) 1,377 — — 1,377 — 1,377 — 12/5/2003 — 48 2020 Auiki Street Honolulu HI Hawaii Properties (A) 2,385 — — 2,385 — 2,385 — 12/5/2003 — 49 204 Sand Island Access Road Honolulu HI Hawaii Properties (A) 1,689 — — 1,689 — 1,689 — 12/5/2003 — 50 207 Puuhale Road Honolulu HI Hawaii Properties (A) 2,024 — — 2,024 — 2,024 — 12/5/2003 — 51 2103 Kaliawa Street Honolulu HI Hawaii Properties (A) 3,212 — — 3,212 — 3,212 — 12/5/2003 — 52 2106 Kaliawa Street Honolulu HI Hawaii Properties (A) 1,568 — 228 1,568 228 1,796 (105) 12/5/2003 — 53 2110 Auiki Street Honolulu HI Hawaii Properties (A) 837 — — 837 — 837 — 12/5/2003 — 54 212 Mohonua Place Honolulu HI Hawaii Properties (A) 1,067 — — 1,067 — 1,067 — 12/5/2003 — 55 2122 Kaliawa Street Honolulu HI Hawaii Properties (A) 1,365 — — 1,365 — 1,365 — 12/5/2003 — 56 2127 Auiki Street Honolulu HI Hawaii Properties (A) 2,906 — 67 2,906 67 2,973 (33) 12/5/2003 — 57 2135 Auiki Street Honolulu HI Hawaii Properties (A) 825 — — 825 — 825 — 12/5/2003 — 58 2139 Kaliawa Street Honolulu HI Hawaii Properties (A) 885 — — 885 — 885 — 12/5/2003 — 59 214 Sand Island Access Road Honolulu HI Hawaii Properties (A) 1,864 — 593 1,864 593 2,457 (127) 12/5/2003 1981 Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings Buildings and Subsequent to and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 60 2140 Kaliawa Street Honolulu HI Hawaii Properties (A) 931 — — 931 — 931 — 12/5/2003 — 61 2144 Auiki Street Honolulu HI Hawaii Properties (A) 2,640 — 7,299 2,640 7,299 9,939 (2,703) 12/5/2003 1953 62 215 Puuhale Road Honolulu HI Hawaii Properties (A) 2,117 — — 2,117 — 2,117 — 12/5/2003 — 63 218 Mohonua Place Honolulu HI Hawaii Properties (A) 1,741 — — 1,741 — 1,741 — 12/5/2003 — 64 220 Puuhale Road Honolulu HI Hawaii Properties (A) 2,619 — — 2,619 — 2,619 — 12/5/2003 — 65 2250 Pahounui Drive Honolulu HI Hawaii Properties (A) 3,862 — — 3,862 — 3,862 — 12/5/2003 — 66 2264 Pahounui Drive Honolulu HI Hawaii Properties (A) 1,632 — — 1,632 — 1,632 — 12/5/2003 — 67 2276 Pahounui Drive Honolulu HI Hawaii Properties (A) 1,619 — — 1,619 — 1,619 — 12/5/2003 — 68 228 Mohonua Place Honolulu HI Hawaii Properties (A) 1,865 — — 1,865 — 1,865 — 12/5/2003 — 69 2308 Pahounui Drive Honolulu HI Hawaii Properties (A) 3,314 — — 3,314 — 3,314 — 12/5/2003 — 70 231 Sand Island Access Road Honolulu HI Hawaii Properties (A) 752 — — 752 — 752 — 12/5/2003 — 71 231B Sand Island Access Road Honolulu HI Hawaii Properties (A) 1,539 — — 1,539 — 1,539 — 12/5/2003 — 72 2344 Pahounui Drive Honolulu HI Hawaii Properties (A) 6,709 — — 6,709 — 6,709 — 12/5/2003 — 73 238 Sand Island Access Road Honolulu HI Hawaii Properties (A) 2,273 — — 2,273 — 2,273 — 12/5/2003 — 74 2635 Waiwai Loop A Honolulu HI Hawaii Properties (A) 934 350 683 934 1,033 1,967 (299) 12/5/2003 — 75 2635 Waiwai Loop B Honolulu HI Hawaii Properties (A) 1,177 105 682 1,177 787 1,964 (188) 12/5/2003 — 76 2760 Kam Highway Honolulu HI Hawaii Properties (A) 703 — 191 703 191 894 (10) 12/5/2003 — 77 2804 Kilihau Street Honolulu HI Hawaii Properties (A) 1,775 2 — 1,775 2 1,777 — 12/5/2003 — 78 2806 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 79 2808 Kam Highway Honolulu HI Hawaii Properties (A) 310 — — 310 — 310 — 12/5/2003 — 80 2809 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,837 — — 1,837 — 1,837 — 12/5/2003 — 81 2810 Paa Street Honolulu HI Hawaii Properties (A) 3,340 — — 3,340 — 3,340 — 12/5/2003 — 82 2810 Pukoloa Street Honolulu HI Hawaii Properties (A) 27,699 — — 27,699 — 27,699 — 12/5/2003 — 83 2812 Awaawaloa Street Honolulu HI Hawaii Properties (A) 1,801 3 — 1,801 3 1,804 (2) 12/5/2003 — 84 2814 Kilihau Street Honolulu HI Hawaii Properties (A) 1,925 — — 1,925 — 1,925 — 12/5/2003 — 85 2815 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,818 — 6 1,818 6 1,824 (2) 12/5/2003 — 86 2815 Kilihau Street Honolulu HI Hawaii Properties (A) 287 — — 287 — 287 — 12/5/2003 — 87 2816 Awaawaloa Street Honolulu HI Hawaii Properties (A) 1,009 27 — 1,009 27 1,036 (12) 12/5/2003 — 88 2819 Mokumoa Street - A Honolulu HI Hawaii Properties (A) 1,821 — — 1,821 — 1,821 — 12/5/2003 — 89 2819 Mokumoa Street - B Honolulu HI Hawaii Properties (A) 1,816 — — 1,816 — 1,816 — 12/5/2003 — 90 2819 Pukoloa Street Honolulu HI Hawaii Properties (A) 2,090 — 34 2,090 34 2,124 (11) 12/5/2003 — Initial Cost to Gross Amount Carried at Company Costs Close of Period (4) Buildings Capitalized Buildings Original and Subsequent to and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 91 2821 Kilihau Street Honolulu HI Hawaii Properties (A) 287 — — 287 — 287 — 12/5/2003 — 92 2826 Kaihikapu Street Honolulu HI Hawaii Properties (A) 3,921 — — 3,921 — 3,921 — 12/5/2003 — 93 2827 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 94 2828 Paa Street Honolulu HI Hawaii Properties (A) 12,448 — — 12,448 — 12,448 — 12/5/2003 — 95 2829 Awaawaloa Street Honolulu HI Hawaii Properties (A) 1,720 2 (2) 1,720 — 1,720 — 12/5/2003 — 96 2829 Kilihau Street Honolulu HI Hawaii Properties (A) 287 — — 287 — 287 — 12/5/2003 — 97 2829 Pukoloa Street Honolulu HI Hawaii Properties (A) 2,088 — — 2,088 — 2,088 — 12/5/2003 — 98 2830 Mokumoa Street Honolulu HI Hawaii Properties (A) 2,146 — — 2,146 — 2,146 — 12/5/2003 — 99 2831 Awaawaloa Street Honolulu HI Hawaii Properties (A) 860 — — 860 — 860 — 12/5/2003 — 100 2831 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,272 529 55 1,272 584 1,856 (262) 12/5/2003 — 101 2833 Kilihau Street Honolulu HI Hawaii Properties (A) 601 — — 601 — 601 — 12/5/2003 — 102 2833 Paa Street Honolulu HI Hawaii Properties (A) 1,701 — — 1,701 — 1,701 — 12/5/2003 — 103 2833 Paa Street #2 Honolulu HI Hawaii Properties (A) 1,675 — — 1,675 — 1,675 — 12/5/2003 — 104 2836 Awaawaloa Street Honolulu HI Hawaii Properties (A) 1,353 — — 1,353 — 1,353 — 12/5/2003 — 105 2838 Kilihau Street Honolulu HI Hawaii Properties (A) 4,262 — — 4,262 — 4,262 — 12/5/2003 — 106 2839 Kilihau Street Honolulu HI Hawaii Properties (A) 627 — — 627 — 627 — 12/5/2003 — 107 2839 Mokumoa Street Honolulu HI Hawaii Properties (A) 1,942 — — 1,942 — 1,942 — 12/5/2003 — 108 2840 Mokumoa Street Honolulu HI Hawaii Properties (A) 2,149 — — 2,149 — 2,149 — 12/5/2003 — 109 2841 Pukoloa Street Honolulu HI Hawaii Properties (A) 2,088 — — 2,088 — 2,088 — 12/5/2003 — 110 2844 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,960 14 (14) 1,960 — 1,960 — 12/5/2003 — 111 2846-A Awaawaloa Street Honolulu HI Hawaii Properties (A) 2,181 954 — 2,181 954 3,135 (430) 12/5/2003 — 112 2847 Awaawaloa Street Honolulu HI Hawaii Properties (A) 582 303 184 582 487 1,069 (144) 12/5/2003 — 113 2849 Kaihikapu Street Honolulu HI Hawaii Properties (A) 860 — — 860 — 860 — 12/5/2003 — 114 2850 Awaawaloa Street Honolulu HI Hawaii Properties (A) 287 172 — 287 172 459 (78) 12/5/2003 — 115 2850 Mokumoa Street Honolulu HI Hawaii Properties (A) 2,143 — — 2,143 — 2,143 — 12/5/2003 — 116 2850 Paa Street Honolulu HI Hawaii Properties (A) 22,827 — — 22,827 — 22,827 — 12/5/2003 — 117 2855 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,807 — — 1,807 — 1,807 — 12/5/2003 — 118 2855 Pukoloa Street Honolulu HI Hawaii Properties (A) 1,934 — — 1,934 — 1,934 — 12/5/2003 — 119 2857 Awaawaloa Street Honolulu HI Hawaii Properties (A) 983 — — 983 — 983 — 12/5/2003 — 120 2858 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 121 2861 Mokumoa Street Honolulu HI Hawaii Properties (A) 3,867 — — 3,867 — 3,867 — 12/5/2003 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings Buildings and Subsequent to and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 122 2864 Awaawaloa Street Honolulu HI Hawaii Properties (A) 1,836 — 7 1,836 7 1,843 (6) 12/5/2003 — 123 2864 Mokumoa Street Honolulu HI Hawaii Properties (A) 2,092 — — 2,092 — 2,092 — 12/5/2003 — 124 2865 Pukoloa Street Honolulu HI Hawaii Properties (A) 1,934 — — 1,934 — 1,934 — 12/5/2003 — 125 2868 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 126 2869 Mokumoa Street Honolulu HI Hawaii Properties (A) 1,794 — — 1,794 — 1,794 — 12/5/2003 — 127 2875 Paa Street Honolulu HI Hawaii Properties (A) 1,330 — — 1,330 — 1,330 — 12/5/2003 — 128 2879 Mokumoa Street Honolulu HI Hawaii Properties (A) 1,789 — — 1,789 — 1,789 — 12/5/2003 — 129 2879 Paa Street Honolulu HI Hawaii Properties (A) 1,691 — 44 1,691 44 1,735 (15) 12/5/2003 — 130 2886 Paa Street Honolulu HI Hawaii Properties (A) 2,205 — — 2,205 — 2,205 — 12/5/2003 — 131 2889 Mokumoa Street Honolulu HI Hawaii Properties (A) 1,783 5 — 1,783 5 1,788 — 12/5/2003 — 132 2906 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,814 2 — 1,814 2 1,816 (1) 12/5/2003 — 133 2908 Kaihikapu Street Honolulu HI Hawaii Properties (A) 1,798 23 — 1,798 23 1,821 (3) 12/5/2003 — 134 2915 Kaihikapu Street Honolulu HI Hawaii Properties (A) 2,579 — — 2,579 — 2,579 — 12/5/2003 — 135 2927 Mokumoa Street Honolulu HI Hawaii Properties (A) 1,778 — — 1,778 — 1,778 — 12/5/2003 — 136 2928 Kaihikapu Street - A Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 137 2928 Kaihikapu Street - B Honolulu HI Hawaii Properties (A) 1,948 — — 1,948 — 1,948 — 12/5/2003 — 138 2960 Mokumoa Street Honolulu HI Hawaii Properties (A) 1,977 — — 1,977 — 1,977 — 12/5/2003 — 139 2965 Mokumoa Street Honolulu HI Hawaii Properties (A) 2,140 — — 2,140 — 2,140 — 12/5/2003 — 140 2969 Mapunapuna Street Honolulu HI Hawaii Properties (A) 4,038 15 — 4,038 15 4,053 (10) 12/5/2003 — 141 2970 Mokumoa Street Honolulu HI Hawaii Properties (A) 1,722 — — 1,722 — 1,722 — 12/5/2003 — 142 33 S. Vineyard Boulevard Honolulu HI Hawaii Properties (A) 844 — — 844 — 844 — 12/5/2003 — 143 525 N. King Street Honolulu HI Hawaii Properties (A) 1,342 — — 1,342 — 1,342 — 12/5/2003 — 144 609 Ahua Street Honolulu HI Hawaii Properties (A) 616 — — 616 — 616 — 12/5/2003 — 145 619 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,401 2 12 1,401 14 1,415 (3) 12/5/2003 — 146 645 Ahua Street Honolulu HI Hawaii Properties (A) 882 — — 882 — 882 — 12/5/2003 — 147 659 Ahua Street Honolulu HI Hawaii Properties (A) 860 20 — 860 20 880 (19) 12/5/2003 — 148 659 Puuloa Road Honolulu HI Hawaii Properties (A) 1,807 — — 1,807 — 1,807 — 12/5/2003 — 149 660 Ahua Street Honolulu HI Hawaii Properties (A) 1,783 4 (1) 1,783 3 1,786 (3) 12/5/2003 — 150 667 Puuloa Road Honolulu HI Hawaii Properties (A) 860 2 — 860 2 862 (2) 12/5/2003 — 151 669 Ahua Street Honolulu HI Hawaii Properties (A) 1,801 14 62 1,801 76 1,877 (29) 12/5/2003 — 152 673 Ahua Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings Buildings and Subsequent to and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 153 675 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,081 — — 1,081 — 1,081 — 12/5/2003 — 154 679 Puuloa Road Honolulu HI Hawaii Properties (A) 1,807 3 — 1,807 3 1,810 (3) 12/5/2003 — 155 685 Ahua Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 156 689 Puuloa Road Honolulu HI Hawaii Properties (A) 1,801 20 — 1,801 20 1,821 (19) 12/5/2003 — 157 692 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,796 2 — 1,796 2 1,798 — 12/5/2003 — 158 697 Ahua Street Honolulu HI Hawaii Properties (A) 994 811 — 994 811 1,805 (367) 12/5/2003 — 159 702 Ahua Street Honolulu HI Hawaii Properties (A) 1,784 3 1 1,784 4 1,788 (4) 12/5/2003 — 160 704 Mapunapuna Street Honolulu HI Hawaii Properties (A) 2,390 685 — 2,390 685 3,075 (309) 12/5/2003 — 161 709 Ahua Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 162 719 Ahua Street Honolulu HI Hawaii Properties (A) 1,960 — — 1,960 — 1,960 — 12/5/2003 — 163 729 Ahua Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 164 733 Mapunapuna Street Honolulu HI Hawaii Properties (A) 3,403 — — 3,403 — 3,403 — 12/5/2003 — 165 739 Ahua Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 166 759 Puuloa Road Honolulu HI Hawaii Properties (A) 1,766 3 — 1,766 3 1,769 (3) 12/5/2003 — 167 761 Ahua Street Honolulu HI Hawaii Properties (A) 3,757 2 341 3,757 343 4,100 (4) 12/5/2003 — 168 766 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 169 770 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — 170 789 Mapunapuna Street Honolulu HI Hawaii Properties (A) 2,608 3 — 2,608 3 2,611 (3) 12/5/2003 — 171 80 Sand Island Access Road Honolulu HI Hawaii Properties (A) 7,972 — — 7,972 — 7,972 — 12/5/2003 — 172 803 Ahua Street Honolulu HI Hawaii Properties (A) 3,804 — — 3,804 — 3,804 — 12/5/2003 — 173 808 Ahua Street Honolulu HI Hawaii Properties (A) 3,279 — — 3,279 — 3,279 — 12/5/2003 — 174 812 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,960 25 625 2,610 — 2,610 — 12/5/2003 — 175 819 Ahua Street Honolulu HI Hawaii Properties (A) 4,821 583 9 4,821 592 5,413 (272) 12/5/2003 — 176 822 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,795 15 — 1,795 15 1,810 (15) 12/5/2003 — 177 830 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,801 25 — 1,801 25 1,826 (23) 12/5/2003 — 178 855 Mapunapuna Street Honolulu HI Hawaii Properties (A) 3,265 — — 3,265 — 3,265 — 12/5/2003 — 179 842 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,795 14 — 1,795 14 1,809 (13) 12/5/2003 — 180 846 Ala Lilikoi Boulevard B Honolulu HI Hawaii Properties (A) 234 — — 234 — 234 — 12/5/2003 — 181 848 Ala Lilikoi Boulevard A Honolulu HI Hawaii Properties (A) 9,426 — — 9,426 — 9,426 — 12/5/2003 — 182 850 Ahua Street Honolulu HI Hawaii Properties (A) 2,682 2 — 2,682 2 2,684 (2) 12/5/2003 — 183 852 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,801 — — 1,801 — 1,801 — 12/5/2003 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings Buildings and Subsequent to and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 184 855 Ahua Street Honolulu HI Hawaii Properties (A) 1,834 — — 1,834 — 1,834 — 12/5/2003 — 185 865 Ahua Street Honolulu HI Hawaii Properties (A) 1,846 — — 1,846 — 1,846 — 12/5/2003 — 186 889 Ahua Street Honolulu HI Hawaii Properties (A) 5,888 315 — 5,888 315 6,203 (72) 11/21/2012 — 187 905 Ahua Street Honolulu HI Hawaii Properties (A) 1,148 — — 1,148 — 1,148 — 12/5/2003 — 188 918 Ahua Street Honolulu HI Hawaii Properties (A) 3,820 — — 3,820 — 3,820 — 12/5/2003 — 189 930 Mapunapuna Street Honolulu HI Hawaii Properties (A) 3,654 — — 3,654 — 3,654 — 12/5/2003 — 190 944 Ahua Street Honolulu HI Hawaii Properties (A) 1,219 — — 1,219 — 1,219 — 12/5/2003 — 191 949 Mapunapuna Street Honolulu HI Hawaii Properties (A) 11,568 — — 11,568 — 11,568 — 12/5/2003 — 192 950 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,724 — — 1,724 — 1,724 — 12/5/2003 — 193 960 Ahua Street Honolulu HI Hawaii Properties (A) 614 — — 614 — 614 — 12/5/2003 — 194 960 Mapunapuna Street Honolulu HI Hawaii Properties (A) 1,933 — — 1,933 — 1,933 — 12/5/2003 — 195 970 Ahua Street Honolulu HI Hawaii Properties (A) 817 — — 817 — 817 — 12/5/2003 — 196 91-027 Kaomi Loop Kapolei HI Hawaii Properties 2,667 — — 2,667 — 2,667 — 6/15/2005 — 197 91-064 Kaomi Loop Kapolei HI Hawaii Properties 1,826 — — 1,826 — 1,826 — 6/15/2005 — 198 91-080 Hanua Kapolei HI Hawaii Properties 2,187 — — 2,187 — 2,187 — 6/15/2005 — 199 91-083 Hanua Kapolei HI Hawaii Properties 716 — — 716 — 716 — 6/15/2005 — 200 91-086 Kaomi Loop Kapolei HI Hawaii Properties 13,884 — — 13,884 — 13,884 — 6/15/2005 — 201 91-087 Hanua Kapolei HI Hawaii Properties 381 — — 381 — 381 — 6/15/2005 — 202 91-091 Hanua Kapolei HI Hawaii Properties 552 — — 552 — 552 — 6/15/2005 — 203 91-102 Kaomi Loop Kapolei HI Hawaii Properties 1,599 — — 1,599 — 1,599 — 6/15/2005 — 204 91-110 Kaomi Loop Kapolei HI Hawaii Properties 1,293 — — 1,293 — 1,293 — 6/15/2005 — 205 91-119 Olai Kapolei HI Hawaii Properties 1,981 — — 1,981 — 1,981 — 6/15/2005 — 206 91-141 Kalaeloa Kapolei HI Hawaii Properties 11,624 — — 11,624 — 11,624 — 6/15/2005 — 207 91-150 Kaomi Loop Kapolei HI Hawaii Properties 3,159 — — 3,159 — 3,159 — 6/15/2005 — 208 91-171 Olai Kapolei HI Hawaii Properties 218 — 13 218 13 231 (5) 6/15/2005 — 209 91-174 Olai Kapolei HI Hawaii Properties 962 — 47 962 47 1,009 (25) 6/15/2005 — 210 91-175 Olai Kapolei HI Hawaii Properties 1,243 — 43 1,243 43 1,286 (26) 6/15/2005 — 211 91-185 Kalaeloa Kapolei HI Hawaii Properties 1,761 — 23 1,761 23 1,784 — 6/15/2005 — 212 91-202 Kalaeloa Kapolei HI Hawaii Properties 1,722 — 326 1,722 326 2,048 (69) 6/15/2005 1,964 213 91-120 Kauhi Kapolei HI Hawaii Properties 567 — 411 567 411 978 — 6/15/2005 1990 214 91-210 Olai Kapolei HI Hawaii Properties 706 — — 706 — 706 — 6/15/2005 — Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings Buildings and Subsequent to and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 215 91-218 Olai Kapolei HI Hawaii Properties 1,622 — 62 1,622 62 1,684 (30) 6/15/2005 — 216 91-220 Kalaeloa Kapolei HI Hawaii Properties 242 1,457 141 242 1,598 1,840 (635) 6/15/2005 1991 217 91-222 Olai Kapolei HI Hawaii Properties 2,035 — 14 2,035 14 2,049 — 6/15/2005 — 218 91-238 Kauhi Kapolei HI Hawaii Properties 1,390 — 9,495 1,390 9,495 10,885 (3,333) 6/15/2005 1981 219 91-241 Kalaeloa Kapolei HI Hawaii Properties 426 3,983 874 426 4,857 5,283 (1,871) 6/15/2005 1990 220 91-250 Komohana Kapolei HI Hawaii Properties 1,506 — — 1,506 — 1,506 — 6/15/2005 — 221 91-252 Kauhi Kapolei HI Hawaii Properties 536 — — 536 — 536 — 6/15/2005 — 222 91-255 Hanua Kapolei HI Hawaii Properties 1,230 — 35 1,230 35 1,265 (6) 6/15/2005 — 223 91-259 Olai Kapolei HI Hawaii Properties 2,944 — — 2,944 — 2,944 — 6/15/2005 — 224 91-265 Hanua Kapolei HI Hawaii Properties 1,569 — — 1,569 — 1,569 — 6/15/2005 — 225 91-300 Hanua Kapolei HI Hawaii Properties 1,381 — 18 1,381 18 1,399 (1) 6/15/2005 1994 226 91-329 Kauhi Kapolei HI Hawaii Properties 294 2,297 2,783 294 5,080 5,374 (1,938) 6/15/2005 1980 227 91-349 Kauhi Kapolei HI Hawaii Properties 649 — — 649 — 649 — 6/15/2005 — 228 91-399 Kauhi Kapolei HI Hawaii Properties 27,405 — — 27,405 — 27,405 — 6/15/2005 — 229 91-400 Komohana Kapolei HI Hawaii Properties 1,494 — — 1,494 — 1,494 — 6/15/2005 — 230 91-410 Komohana Kapolei HI Hawaii Properties 418 — 12 418 12 430 (5) 6/15/2005 — 231 91-416 Komohana Kapolei HI Hawaii Properties 713 — 11 713 11 724 (4) 6/15/2005 — 232 AES HI Easement Kapolei HI Hawaii Properties 1,250 — — 1,250 — 1,250 — 6/15/2005 — 233 Other Easements & Lots Kapolei HI Hawaii Properties 358 — 1,437 358 1,437 1,795 (600) 6/15/2005 — 234 Tesaro 967 Easement Kapolei HI Hawaii Properties 6,593 — — 6,593 — 6,593 — 6/15/2005 — 235 Texaco Easement Kapolei HI Hawaii Properties 2,657 — — 2,657 — 2,657 — 6/15/2005 — 236 94-240 Pupuole Street Waipahu HI Hawaii Properties (A) 717 — — 717 — 717 — 12/5/2003 — 237 951 Trails Road Eldridge IA Mainland Properties 470 7,480 1,469 470 8,949 9,419 (3,138) 4/2/2007 1994 238 3425 Maple Drive Fort Dodge IA Mainland Properties 100 2,000 — 100 2,000 2,100 (156) 4/9/2019 2014 239 2300 North 33rd Avenue East Newton IA Mainland Properties 500 13,236 117 500 13,353 13,853 (4,430) 9/29/2008 2008 240 7121 South Fifth Avenue Pocatello ID Mainland Properties 400 4,201 436 400 4,637 5,037 (773) 1/29/2015 2007 241 1230 West 171st Street Harvey IL Mainland Properties 800 1,673 — 800 1,673 2,473 (290) 1/29/2015 2004 242 5156 American Road Rockford IL Mainland Properties 400 1,529 321 400 1,850 2,250 (325) 1/29/2015 1996 243 3201 Bearing Drive Franklin IN Mainland Properties 1,100 15,403 (2) 1,100 15,401 16,501 (1,401) 4/9/2019 1973 244 2482 Century Drive Goshen IN Mainland Properties 840 9,061 — 840 9,061 9,901 (706) 4/9/2019 2005 245 6825 West County Road 400 North Greenfield IN Mainland Properties 918 14,300 924 918 15,224 16,142 (1,262) 2/14/2019 2008 246 900 Commerce Parkway West Drive Greenwood IN Mainland Properties 1,483 16,253 — 1,483 16,253 17,736 (1,338) 2/14/2019 2007 Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings Buildings and Subsequent to and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 247 9347 E Pendleton Pike Lawrence IN Mainland Properties 3,763 34,877 1 3,763 34,878 38,641 (2,870) 2/14/2019 2009 248 17001 West Mercury Street Gardner KS Mainland Properties 5,741 32,701 37 5,741 32,738 38,479 (820) 12/30/2020 2018 249 1985 International Way Hebron KY Mainland Properties 1,453 8,546 1,293 1,453 9,839 11,292 (928) 2/14/2019 1997 250 17200 Manchac Park Lane Baton Rouge LA Mainland Properties 1,700 8,860 — 1,700 8,860 10,560 (1,532) 1/29/2015 2014 251 209 South Bud Street Lafayette LA Mainland Properties 700 4,549 41 700 4,590 5,290 (791) 1/29/2015 2010 252 4000 Principio Parkway North East MD Mainland Properties 4,200 71,518 803 4,200 72,321 76,521 (12,468) 1/29/2015 2012 253 3800 Midlink Drive Kalamazoo MI Mainland Properties 2,630 40,599 — 2,630 40,599 43,229 (7,021) 1/29/2015 2014 254 2401 Cram Avenue SE Bemidji MN Mainland Properties 100 2,137 — 100 2,137 2,237 (370) 1/29/2015 2013 255 10100 89th Avenue N Maple Grove MN Mainland Properties 3,469 21,284 450 3,469 21,734 25,203 (1,915) 10/16/2018 2015 256 110 Stanbury Industrial Drive Brookfield MO Mainland Properties 200 1,859 — 200 1,859 2,059 (321) 1/29/2015 2012 257 3502 Enterprise Avenue Joplin MO Mainland Properties 1,380 12,121 — 1,380 12,121 13,501 (945) 4/9/2019 2014 258 5501 Providence Hill Drive St. Joseph MO Mainland Properties 400 3,500 24 400 3,524 3,924 (280) 4/9/2019 2014 259 628 Patton Avenue Asheville NC Mainland Properties 500 1,514 — 500 1,514 2,014 (262) 1/29/2015 1987 260 3900 NE 6th Street Minot ND Mainland Properties 700 3,223 — 700 3,223 3,923 (557) 1/29/2015 2013 261 1415 West Commerce Way Lincoln NE Mainland Properties 2,200 8,518 388 2,200 8,906 11,106 (1,532) 1/29/2015 1971 262 52 Pettengill Road Londonderry NH Mainland Properties 5,871 43,335 7 5,871 43,342 49,213 (3,378) 4/9/2019 2015 263 309 Dulty's Lane Burlington NJ Mainland Properties 1,600 51,400 — 1,600 51,400 53,000 (8,888) 1/29/2015 2001 264 725 Darlington Avenue Mahwah NJ Mainland Properties 8,492 9,451 1,804 8,492 11,255 19,747 (2,135) 4/9/2014 1999 265 2375 East Newlands Road Fernley NV Mainland Properties 1,100 17,314 286 1,100 17,600 18,700 (3,075) 1/29/2015 2007 266 7000 West Post Road Las Vegas NV Mainland Properties 4,230 13,472 246 4,230 13,718 17,948 (1,265) 4/9/2019 2010 267 55 Commerce Avenue Albany NY Mainland Properties 1,000 10,105 180 1,000 10,285 11,285 (1,797) 1/29/2015 2013 268 158 West Yard Road Feura Bush NY Mainland Properties 1,870 7,931 41 1,870 7,972 9,842 (1,082) 4/9/2019 1989 269 32150 Just Imagine Drive Avon OH Mainland Properties 2,200 23,280 — 2,200 23,280 25,480 (7,324) 5/29/2009 1996 270 1415 Industrial Drive Chillicothe OH Mainland Properties 1,200 3,265 — 1,200 3,265 4,465 (565) 1/29/2015 2012 271/272/273 1580, 1590 & 1600 Williams Road Columbus OH Mainland Properties 2,060 29,143 — 2,060 29,143 31,203 (2,650) 4/9/2019 1992 274 7303 Rickenbacker Parkway Trust Columbus OH Mainland Properties 1,491 27,407 — 1,491 27,407 28,898 (413) 6/21/2021 2020 275 5300 Centerpoint Parkway Groveport OH Mainland Properties 2,700 29,863 68 2,700 29,931 32,631 (5,173) 1/29/2015 2014 276 200 Orange Point Drive Lewis Center OH Mainland Properties 1,300 8,613 162 1,300 8,775 10,075 (1,543) 1/29/2015 2013 277 301 Commerce Drive South Point OH Mainland Properties 600 4,530 — 600 4,530 5,130 (783) 1/29/2015 2013 278 2820 State Highway 31 McAlester OK Mainland Properties 581 2,237 4,582 581 6,819 7,400 (879) 1/29/2015 2012 279 1990 Hood Road Greer SC Mainland Properties 400 10,702 — 400 10,702 11,102 (834) 4/9/2019 2015 280 996 Paragon Way Rock Hill SC Mainland Properties 2,334 35,920 (1) 2,334 35,919 38,253 (6,212) 1/29/2015 2014 Initial Cost to Costs Gross Amount Carried at Company Capitalized Close of Period (4) Original Buildings Buildings and Subsequent to and Accumulated Date Construction Property Location State Property Type Encumbrances (1) Land Equipment Acquisition Land Equipment Total (2) Depreciation (3) Acquired Date 281 700 Marine Drive Rock Hill SC Mainland Properties 820 8,381 669 820 9,050 9,870 (829) 4/9/2019 1986 282 510 John Dodd Road Spartanburg SC Mainland Properties 3,300 57,998 347 3,300 58,345 61,645 (10,076) 1/29/2015 2012 283 5001 West Delbridge Street Sioux Falls SD Mainland Properties 2,570 14,832 — 2,570 14,832 17,402 (1,156) 4/9/2019 2016 284 4836 Hickory Hill Road Memphis TN Mainland Properties 1,402 10,769 1,429 1,402 12,198 13,600 (2,114) 12/23/2014 1984 285 2020 Joe B. Jackson Parkway Murfreesboro TN Mainland Properties 7,500 55,259 299 7,500 55,558 63,058 (9,575) 1/29/2015 2012 286 2500, 2526, & 2614 Big Town Boulevard Mesquite TX Mainland Properties 2,319 — 681 2,319 681 3,000 — 5/7/2021 — 287 1095 South 4800 West Salt Lake City UT Mainland Properties 1,500 6,913 20 1,500 6,933 8,433 (1,200) 1/29/2015 2012 288 1901 Meadowville Technology Parkway Chester VA Mainland Properties 4,000 67,511 170 4,000 67,681 71,681 (11,679) 1/29/2015 2012 $ 698,386 $ 998,243 $ 52,204 $ 699,037 $ 1,049,796 $ 1,748,833 $ (167,490) (1) Represents mortgage notes and includes the unamortized balance of debt issuance costs totaling $3,876. Certain of our properties are encumbered as follows: Encumbrance Undepreciated Cost (A) - 186 properties encumbered by one mortgage loan $ 646,124 $ 505,986 (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 $1,843,824. INDUSTRIAL LOGISTICS PROPERTIES TRUST SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (CONTINUED) December 31, 2021 (dollars in thousands) Analysis of the carrying amount of real estate properties and accumulated depreciation: Real Estate Accumulated Properties Depreciation Balance at December 31, 2018 1,462,396 (93,291) Additions 873,568 (38,177) Balance at December 31, 2019 2,335,964 (131,468) Additions 109,020 (43,821) Disposals (635,914) 33,883 Balance at December 31, 2020 1,809,070 (141,406) Additions 129,724 (32,389) Disposals (189,961) 6,305 Balance at December 31, 2021 1,748,833 (167,490) |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation. These consolidated financial statements include the accounts of us and our subsidiaries. All intercompany transactions and balances with or among our consolidated subsidiaries have been eliminated. |
Real Estate Properties | Real Estate Properties. We record properties at cost. 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 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. The future net undiscounted cash flows are subjective and are based in part on assumptions regarding hold periods, market rents and terminal capitalization rates. 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, 2021 and 2020. 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 both December 31, 2021 and 2020, accrued environmental remediation costs of $6,940 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 | 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 and Restricted Cash | 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. Restricted Cash. Restricted cash consists of amounts escrowed for future capital expenditures as required by certain of our mortgage notes. |
Deferred Leasing Costs | Deferred Leasing Costs. Deferred leasing costs include capitalized brokerage costs and inducements associated with our entering leases. We amortize deferred leasing costs, which are included in depreciation and amortization expense, and inducements, which are included as a reduction to rental income, each on a straight line basis over the terms of the respective leases. Legal costs associated with the execution of our leases are expensed as incurred and included in general and administrative expenses in our consolidated statements of comprehensive income. |
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. |
Equity Method Investments | Equity Method Investments. We own a 22% equity interest in an unconsolidated joint venture which owns 18 properties, or our joint venture. The properties owned by our joint venture are encumbered by an aggr egate $406,980 of mo rtgage debts. We do not control the activities that are most significant to our joint venture and, as a result, we account for our investment in our joint venture under the equity method of accounting under the fair value option. See Notes 3 and 6 for more information regarding our joint venture. |
Revenue Recognition | Revenue Recognition. We are a lessor of industrial and logistics properties. Our leases provide our tenants with the contractual right to use and economically benefit from all the physical space specified in the leases; therefore, we have determined to evaluate our leases as lease arrangements. Our leases provide for base rent payments and in addition may include variable payments. Rental income from operating leases, including any payments derived by index or market based indices, is recognized on a straight line basis over the lease term when we have determined that the collectability of substantially all the lease payments is probable. Some of our leases have options to extend or terminate the lease exercisable at the option of our tenants, which are considered when determining the lease term. Certain of our leases contain non-lease components, such as property level operating expenses and capital expenditures reimbursed by our tenants as well as other required lease payments. We have determined that all our leases qualify for the practical expedient to not separate the lease and non-lease components because (i) the lease components are operating leases and (ii) the timing and pattern of recognition of the non-lease components are the same as those of the lease components. We apply Accounting Standards Codification, or ASC, 842, Leases , to the combined component. Income derived by our leases is recorded in rental income in our consolidated statements of comprehensive income. Certain tenants are obligated to pay directly their obligations under their leases for insurance, real estate taxes and certain other expenses. These obligations, 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 any such obligations under the applicable lease defaults on such lease or if it is deemed probable that the tenant will fail to pay for such obligations, we would record a liability for such obligations. |
Income Taxes | Income Taxes. We have elected to be taxed as a REIT under the United States Internal Revenue Code of 1986, as amended, and, accordingly, we generally are not, and will not be, subject to federal income taxes provided we distribute our taxable income and meet certain organization and operating requirements to qualify for taxation as a REIT. We are, however, 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. |
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. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule of acquired real estate leases and assumed real estate lease obligations | As of December 31, 2021 and 2020, our acquired real estate leases and assumed real estate lease obligations were as follows: December 31, 2021 2020 Acquired real estate leases: Capitalized above market lease values $ 20,725 $ 27,323 Less: accumulated amortization (13,225) (18,400) Capitalized above market lease values, net 7,500 8,923 Lease origination value 122,945 135,453 Less: accumulated amortization (67,004) (60,732) Lease origination value, net 55,941 74,721 Acquired real estate leases, net $ 63,441 $ 83,644 Assumed real estate lease obligations: Capitalized below market lease values $ 33,674 $ 33,927 Less: accumulated amortization (21,239) (19,297) Assumed real estate lease obligations, net $ 12,435 $ 14,630 |
Real Estate Investments (Tables
Real Estate Investments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Real Estate [Abstract] | |
Summary of investment in unconsolidated joint ventures | As of December 31, 2021, we have an equity investment in a joint venture that consists of the following: ILPT Carrying Value of ILPT Investment at December 31, Number of Square Joint Venture Ownership 2021 Properties Location Feet 18 properties in 12 states 22% $ 143,021 18 Various 11,726,000 |
Summary of the mortgage debt of our joint venture | The following table provides a summary of the mortgage debts of our joint venture: Principal Balance at December 31, Joint Venture Coupon Rate (1) Maturity Date 2021 (2) Mortgage note payable (secured by one property in Florida) 3.60% 10/1/2023 $ 56,980 Mortgage note payable (secured by 11 other properties in eight states) 3.33% 11/7/2029 350,000 Weighted Average/Total 3.37% $ 406,980 (1) Includes the effect of mark to market purchase accounting. (2) Amounts are not adjusted for our minority interest. |
Summary of disposed properties | As a result, the results of operations of this property are included in continuing operations through the date of sale in our consolidated statements of comprehensive income. Number of Square Gross Gain on Sale of Date of Sale Properties Location Feet Sale Price (1) Real Estate December 2020 1 Winchester, VA 308,217 $ 10,775 $ 581 (1) Gross sale price is the gross contract price, adjusted for purchase price adjustments, if any, and excluding closing costs. |
Schedule of estimated fair value of the acquired assets and assumed liabilities | We allocated the purchase prices for these acquisitions based on the estimated fair value of the acquired assets and assumed liabilities as follows: Number Rentable Buildings Acquired Acquired of Square Purchase and Real Estate Real Estate Date Market Area Properties Feet Price Land Improvements Leases Lease Obligations May 2021 Dallas, TX 1 — $ 2,319 $ 2,319 $ — $ — $ — June 2021 Columbus, OH 1 357,504 31,762 1,491 27,407 2,864 — August 2021 Memphis, TN 3 1,287,004 100,649 5,922 87,600 7,192 (65) 5 1,644,508 $ 134,730 $ 9,732 $ 115,007 $ 10,056 $ (65) Number Rentable Buildings Acquired of Square Purchase and Real Estate Date Market Area Properties Feet Price Land Improvements Leases February 2020 Phoenix, AZ 1 820,384 $ 71,628 $ 11,214 $ 54,676 $ 5,738 December 2020 Kansas City, KS 1 645,462 44,185 5,740 32,701 5,744 2 1,465,846 $ 115,813 $ 16,954 $ 87,377 $ 11,482 2019 Acquisitions: During the year ended December 31, 2019, we acquired 30 industrial properties containing a combined 13,288,180 rentable square feet for an aggregate purchase price of $941,550, including acquisition related costs of $4,800. These acquisitions were accounted for as acquisitions of assets. We allocated the purchase prices for these acquisitions based on the estimated fair value of the acquired assets and assumed liabilities as follows: Acquired Acquired Discount Number Rentable Buildings Real Real Estate on of Square Purchase and Estate Lease Assumed Date Market Area Properties Feet Price Land Improvements Leases Obligations Debt February 2019 2 mainland states 7 3,708,343 $ 250,276 $ 19,558 $ 205,811 $ 24,907 $ — $ — April 2019 Indianapolis, IN 1 493,500 $ 30,517 $ 2,817 $ 24,836 $ 2,864 $ — $ — April 2019 12 mainland states 20 8,694,321 $ 628,457 $ 52,546 $ 519,829 $ 56,715 $ (1,965) $ 1,332 August 2019 Columbus, OH 2 392,016 $ 32,300 $ 2,393 $ 27,363 $ 2,544 $ — $ — 30 13,288,180 $ 941,550 $ 77,314 $ 777,839 $ 87,030 $ (1,965) $ 1,332 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Schedule of Operating Lease Maturities | The following operating lease maturity analysis presents the future contractual lease payments to be received by us through 2064 as of December 31, 2021: Year Amount 2022 $ 168,063 2023 158,620 2024 144,767 2025 132,238 2026 126,105 Thereafter 1,031,288 $ 1,761,081 |
Indebtedness (Tables)
Indebtedness (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of outstanding indebtedness | As of December 31, 2021 and 2020, our outstanding indebtedness consisted of the following: Net Book Value Principal Balance as of of Collateral December 31, Interest At December 31, 2021 (1) 2020 (1) Rate Maturity 2021 Unsecured revolving credit facility (2) $ 182,000 $ 221,000 1.41 % Jun 2022 $ — Mortgage notes payable (secured by 186 properties in Hawaii) 650,000 650,000 4.31 % Feb 2029 491,235 832,000 871,000 $ 491,235 Unamortized debt issuance costs (3,876) (4,421) $ 828,124 $ 866,579 (1) The principal balances are the amounts stated in contracts. In accordance with GAAP, our carrying values and recorded interest expense may be different because of market conditions at the time we assumed certain of these debts. (2) The maturity date of our revolving credit facility is June 29, 2022 and we have the option to extend the maturity date for one six month period through December 29, 2022. |
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, 2021 are as follows: Principal Year Payment 2022 $ 182,000 2023 — 2024 — 2025 — 2026 — Thereafter 650,000 $ 832,000 (1) (1) Total debt outstanding as of December 31, 2021, including unamortized debt issuance costs of $3,876, was $828,124. |
Fair Value of Assets and Liab_2
Fair Value of Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of carrying value and the estimated fair market value of mortgage notes payable | At December 31, 2021 and 2020, the fair value of our financial instruments approximated their carrying values in our consolidated financial statements, due to the short term nature or floating interest rates, except as follows: At December 31, 2021 At December 31, 2020 Carrying Estimated Carrying Estimated Value (1) Fair Value Value (1) Fair Value Mortgage notes payable $ 646,124 $ 709,198 $ 645,579 $ 730,119 (1) Includes unamortized debt issuance costs, premiums and discounts of $3,876 and $4,421 as of December 31, 2021 and 2020, respectively. |
Fair Value Measurements on a Recurring Basis | The table below presents certain of our assets measured on a recurring basis at fair value categorized by the level of inputs as defined in the fair value hierarchy under GAAP, used in the valuation of each asset: Quoted Significant Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Recurring fair value measurements At December 31, 2021 Investment in unconsolidated joint venture (1) $ 143,021 $ — $ — $ 143,021 At December 31, 2020 Investment in unconsolidated joint venture $ 60,590 $ — $ — $ 60,590 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Summary of shares granted and vested | A summary of shares awarded, vested and forfeited under the terms of the 2018 Plan for the years ended December 31, 2021, 2020 and 2019 is as follows: Year Ended December 31, 2021 December 31, 2020 December 31, 2019 Weighted Weighted Weighted Average Average Average Number Grant Date Number Grant Date Number Grant Date of Shares Fair Value of Shares Fair Value of Shares Fair Value Unvested at beginning of year 162,200 $ 22.37 108,200 $ 22.08 43,280 $ 23.33 Granted 139,800 25.93 139,100 22.01 119,200 21.32 Vested (108,920) 23.78 (84,520) 21.41 (52,880) 20.78 Forfeited (700) 22.24 (580) 22.20 (1,400) 22.39 Unvested at end of year 192,380 $ 24.15 162,200 $ 22.37 108,200 $ 22.08 |
Summary of distributions paid on common shares | During the years ended December 31, 2021, 2020 and 2019, we paid distributions on our common shares as follows: Annual Per Characterization of Distribution Share Total Return of Ordinary Capital Year Distribution Distribution Capital Income Gain 2021 $ 1.32 $ 86,236 — % 93.2 % 6.8 % 2020 $ 1.32 $ 86,089 — % 71.0 % 29.0 % 2019 $ 1.32 $ 85,937 21.8 % 78.2 % — % |
Per Common Shares Amounts (Tabl
Per Common Shares Amounts (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | |
Schedule of weighted average common shares, basic and diluted | The calculation of basic and diluted earnings per share is as follows: Year Ended December 31, 2021 2020 2019 Numerators: Net income attributable to common shareholders $ 119,682 $ 82,071 $ 52,498 Income attributable to unvested participating securities (307) (154) (48) Net income attributable to common shareholders used in calculating earnings per share $ 119,375 $ 81,917 $ 52,450 Denominators: Weighted average common shares for basic earnings per share 65,169 65,104 65,049 Effect of dilutive securities: unvested share awards 42 10 6 Weighted average common shares for diluted earnings per share 65,211 65,114 65,055 Net income attributable to common shareholders per common share - basic $ 1.83 $ 1.26 $ 0.81 Net income attributable to common shareholders per common share - diluted $ 1.83 $ 1.26 $ 0.81 |
Organization - Narrative (Detai
Organization - Narrative (Details) | Dec. 31, 2021ft²propertystatebuilding | Dec. 31, 2020property |
Subsidiary, Sale of Stock [Line Items] | ||
Number of properties owned | property | 288 | |
Net rentable area | 33,991,000 | |
Hawaii | ||
Subsidiary, Sale of Stock [Line Items] | ||
Number of buildings, leasable lands and easements owned | building | 226 | |
Net rentable area | 16,729,000 | |
Mainland Properties | ||
Subsidiary, Sale of Stock [Line Items] | ||
Number of properties owned | property | 62 | |
Net rentable area | 17,262,000 | |
Number of states where real estate is located | state | 30 | |
12 Mainland Properties | ||
Subsidiary, Sale of Stock [Line Items] | ||
Net rentable area | 11,726,000 | |
Ownership interest | 22.00% | 22.00% |
Number of properties contributed | property | 18 | 12 |
Number of states where real estate is located | state | 12 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Real Estate Properties (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
2022 | $ 12,236,000 | ||
2023 | 10,891,000 | ||
2024 | 7,036,000 | ||
2025 | 4,570,000 | ||
2026 | 4,052,000 | ||
Thereafter | 12,221,000 | ||
Real estate impairment | 0 | $ 0 | |
Accrued environmental remediation cost | $ 6,940,000 | 6,940,000 | |
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 | $ 781,000 | 791,000 | $ 1,195,000 |
Amortization of the value of acquired in place leases | $ 17,437,000 | $ 25,364,000 | $ 22,661,000 |
Weighted Average | |||
Property, Plant and Equipment [Line Items] | |||
Amortization period of capitalized below market lease values | 11 years 9 months 18 days | ||
Above market lease | Weighted Average | |||
Property, Plant and Equipment [Line Items] | |||
Amortization periods for capitalized above market lease and lease origination values | 10 years 6 months | ||
Acquired Real Estate Leases | Weighted Average | |||
Property, Plant and Equipment [Line Items] | |||
Amortization periods for capitalized above market lease and lease origination values | 6 years 2 months 12 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, 2021 | Dec. 31, 2020 |
Acquired real estate leases: | ||
Acquired real estate leases, net | $ 63,441 | $ 83,644 |
Assumed real estate lease obligations: | ||
Capitalized below market lease values | 33,674 | 33,927 |
Less: accumulated amortization | (21,239) | (19,297) |
Assumed real estate lease obligations, net | 12,435 | 14,630 |
Above market lease | ||
Acquired real estate leases: | ||
Acquired real estate leases, gross | 20,725 | 27,323 |
Less: accumulated amortization | (13,225) | (18,400) |
Acquired real estate leases, net | 7,500 | 8,923 |
Acquired Real Estate Leases | ||
Acquired real estate leases: | ||
Acquired real estate leases, gross | 122,945 | 135,453 |
Less: accumulated amortization | (67,004) | (60,732) |
Acquired real estate leases, net | $ 55,941 | $ 74,721 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Deferred Leasing Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Accounting Policies [Abstract] | ||
Deferred leasing costs | $ 12,918 | $ 8,116 |
Accumulated amortization of deferred leasing costs | 4,035 | $ 3,521 |
Future amortization of deferred leasing costs to be recognized during the current terms of the existing leases | ||
2022 | 1,222 | |
2023 | 1,017 | |
2024 | 953 | |
2025 | 885 | |
2026 | 786 | |
Thereafter | $ 4,020 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Debt Issuance Costs and Other Narrative Items (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021USD ($)segmentproperty | Dec. 31, 2020USD ($) | |
Debt Instrument [Line Items] | ||
Debt issuance costs, line of credit | $ 6,711 | $ 5,907 |
Debt issuance costs, accumulated amortization | 5,907 | 4,430 |
Future amortization expense of debt issuance costs, 2022 | 1,351 | |
Future amortization expense of debt issuance costs, 2023 | 547 | |
Future amortization expense of debt issuance costs, 2024 | 547 | |
Future amortization expense of debt issuance costs, 2025 | 547 | |
Future amortization expense of debt issuance costs, 2026 | 547 | |
Future amortization expense of debt issuance costs, Thereafter | 1,141 | |
Mortgage indebtedness | $ 406,980 | |
Number of business segments | segment | 1 | |
12 Mainland Properties | ||
Debt Instrument [Line Items] | ||
Ownership interest | 22.00% | |
Number of properties contributed | property | 18 | |
Loans Payable | Mortgage Loan 2019 | ||
Debt Instrument [Line Items] | ||
Debt issuance cost, mortgage loan | $ 3,876 | $ 4,421 |
Real Estate Investments - Narra
Real Estate Investments - Narrative (Details) | 1 Months Ended | 3 Months Ended | 11 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2021USD ($)ft²propertystatebuilding | Sep. 30, 2021USD ($) | Nov. 30, 2020USD ($) | Mar. 31, 2022USD ($)ft²property$ / shares | Mar. 31, 2020USD ($) | Nov. 30, 2020 | Dec. 31, 2021USD ($)ft²propertystatebuildingsegment | Dec. 31, 2020USD ($)property | Dec. 31, 2019USD ($) | Feb. 01, 2020USD ($) | |
Real Estate Properties | ||||||||||
Number of properties owned | property | 288 | 288 | ||||||||
Net rentable area | ft² | 33,991,000 | 33,991,000 | ||||||||
Number of business segments | segment | 1 | |||||||||
Rental income | $ 219,874,000 | $ 254,575,000 | $ 229,234,000 | |||||||
Proceeds from sale of joint venture interests | $ 804,000 | 106,283,000 | 0 | |||||||
Ownership interest | 78.00% | 78.00% | ||||||||
Net loss attributable to noncontrolling interest | $ 0 | 866,000 | 0 | |||||||
Proceeds from noncontrolling interest, net | 0 | 107,942,000 | 0 | |||||||
Real estate properties, net | $ 1,581,343,000 | 1,581,343,000 | 1,667,664,000 | |||||||
Mortgage notes payable, net | $ 646,124,000 | 646,124,000 | 645,579,000 | |||||||
Equity in earnings of investees | 40,918,000 | 529,000 | 666,000 | |||||||
Commitments related to tenant improvements and leasing costs | $ 10,544,000 | |||||||||
Tenant improvements (in sqft) | ft² | 3,103,000 | 3,103,000 | ||||||||
Committed but unspent tenant related obligations | $ 2,224,000 | $ 2,224,000 | ||||||||
Committed but unspent tenant related obligations expected to be spent in the next 12 months | 1,671,000 | 1,671,000 | ||||||||
Contributions from noncontrolling interest | 107,942,000 | |||||||||
Gain on sale of real estate | 12,054,000 | 23,996,000 | $ 0 | |||||||
Revolving Credit Facility | ||||||||||
Real Estate Properties | ||||||||||
Maximum borrowing capacity of revolving credit facility | $ 750,000,000 | $ 750,000,000 | ||||||||
Additional Paid In Capital | ||||||||||
Real Estate Properties | ||||||||||
Contributions from noncontrolling interest | $ 9,567,000 | |||||||||
Monmouth Real Estate Investment Corporation | Forecast | ||||||||||
Real Estate Properties | ||||||||||
Net rentable area | ft² | 26,000,000 | |||||||||
Purchase price of acquisition | $ 4,000,000 | |||||||||
Share price offered (in usd per share) | $ / shares | $ 21 | |||||||||
Number of properties | property | 126 | |||||||||
Weighted average remaining lease term of acquired leases | 8 years | |||||||||
Hawaii | ||||||||||
Real Estate Properties | ||||||||||
Net rentable area | ft² | 16,729,000 | 16,729,000 | ||||||||
Number of buildings, leasable lands and easements owned | building | 226 | 226 | ||||||||
Mainland Properties | ||||||||||
Real Estate Properties | ||||||||||
Number of properties owned | property | 62 | 62 | ||||||||
Net rentable area | ft² | 17,262,000 | 17,262,000 | ||||||||
Number of states where real estate is located | state | 30 | 30 | ||||||||
Rock Hill, SC | Land | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||||||
Real Estate Properties | ||||||||||
Gross sales price | $ 1,400,000 | |||||||||
Gain on sale of real estate | $ 940,000 | |||||||||
Geographic Concentration Risk | Sales Revenue, Net | Hawaii | ||||||||||
Real Estate Properties | ||||||||||
Percentage of revenues | 50.60% | 42.20% | 43.90% | |||||||
Two Subsidiaries Of Amazon, Inc. | ||||||||||
Real Estate Properties | ||||||||||
Rental income | $ 21,440,000 | $ 38,241,000 | $ 31,623,000 | |||||||
12 Mainland Properties | ||||||||||
Real Estate Properties | ||||||||||
Net rentable area | ft² | 11,726,000 | 11,726,000 | ||||||||
Number of states where real estate is located | state | 12 | 12 | ||||||||
Ownership interest | 22.00% | 22.00% | 22.00% | |||||||
Number of properties contributed | property | 18 | 18 | 12 | |||||||
Percentage leased | 100.00% | 100.00% | ||||||||
Proceeds from sale of joint venture interests | $ 160,516,000 | $ 108,812,000 | $ 108,676,000 | |||||||
Ownership percentage sold | 39.00% | |||||||||
Ownership interest | 61.00% | 61.00% | 61.00% | |||||||
Cash distributions | $ 2,640,000 | $ 14,049,000 | ||||||||
Gross sales price | 205,789,000 | $ 205,789,000 | ||||||||
Transactions costs | $ 734,000 | |||||||||
Noncontrolling interest in joint ventures | 98,375,000 | |||||||||
Amount of deconsolidation gain | 23,415,000 | |||||||||
Gain on sale of real estate | $ 11,114,000 | |||||||||
12 Mainland Properties | Additional Paid In Capital | ||||||||||
Real Estate Properties | ||||||||||
Contributions from noncontrolling interest | 9,567,000 | |||||||||
12 Mainland Properties | Variable Interest Entity, Primary Beneficiary | ||||||||||
Real Estate Properties | ||||||||||
Number of properties contributed | property | 6 | 6 | ||||||||
Net loss attributable to noncontrolling interest | 866,000 | |||||||||
Proceeds from noncontrolling interest, net | 8,570,000 | |||||||||
Real estate properties, net | $ 680,000,000 | |||||||||
Mortgage notes payable, net | $ 406,980,000 | |||||||||
Equity in earnings of investees | $ 45,273,000 | |||||||||
12 Mainland Properties | Variable Interest Entity, Primary Beneficiary | First Joint Investor | ||||||||||
Real Estate Properties | ||||||||||
Proceeds from noncontrolling interest, net | $ 5,479,000 |
Real Estate Investments - Joint
Real Estate Investments - Joint Venture Activities (Details) $ in Thousands | Dec. 31, 2021USD ($)ft²propertystate | Dec. 31, 2020USD ($)property |
Schedule of Equity Method Investments [Line Items] | ||
Investment in unconsolidated joint venture | $ | $ 143,021 | $ 60,590 |
Net rentable area (in sqft) | ft² | 33,991,000 | |
12 Mainland Properties | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest | 22.00% | 22.00% |
Investment in unconsolidated joint venture | $ | $ 143,021 | |
Number of properties contributed | property | 18 | 12 |
Net rentable area (in sqft) | ft² | 11,726,000 | |
Number of Real Estate Properties | property | 18 | |
Number of states where real estate is located | state | 12 |
Real Estate Investments - Joi_2
Real Estate Investments - Joint Venture Indebtedness (Details) $ in Thousands | Dec. 31, 2021USD ($)propertystate | Dec. 31, 2020USD ($) |
Schedule of Equity Method Investments [Line Items] | ||
Principal Balance | $ | $ 832,000 | $ 871,000 |
12 Mainland Properties | ||
Schedule of Equity Method Investments [Line Items] | ||
Coupon Rate | 3.37% | |
Principal Balance | $ | $ 406,980 | |
Number of Real Estate Properties | property | 18 | |
Number of states where real estate is located | state | 12 | |
12 Mainland Properties | Mortgage note payable | Mortgage note payable (secured by one property in Florida) | ||
Schedule of Equity Method Investments [Line Items] | ||
Coupon Rate | 360.00% | |
Principal Balance | $ | $ 56,980 | |
Number of Real Estate Properties | property | 1 | |
12 Mainland Properties | Mortgage note payable | Mortgage note payable (secured by 11 other properties in eight states) | ||
Schedule of Equity Method Investments [Line Items] | ||
Coupon Rate | 333.00% | |
Principal Balance | $ | $ 350,000 | |
Number of Real Estate Properties | property | 11 | |
Number of states where real estate is located | property | 8 |
Real Estate Investments - Prope
Real Estate Investments - Property Dispositions (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020USD ($)ft²property | Dec. 31, 2021USD ($)ft² | Sep. 30, 2021USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net rentable area (in sqft) | ft² | 33,991,000 | ||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Rock Hill, SC | Land | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Gross Sales Price | $ 1,400 | ||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2020 Dispositions | Winchester, VA | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of Properties | property | 1 | ||
Net rentable area (in sqft) | ft² | 308,217 | ||
Gross Sales Price | $ 10,775 | ||
Gain on Sale of Real Estate | $ 581 | ||
12 Mainland Properties | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net rentable area (in sqft) | ft² | 11,726,000 | ||
Gross Sales Price | $ 205,789 |
Real Estate Investments - Pro_2
Real Estate Investments - Property Acquisitions (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021USD ($)ft²property | Dec. 31, 2020USD ($)ft²property | Dec. 31, 2019USD ($)ft²property | |
Real Estate [Line Items] | |||
Net rentable area | ft² | 33,991,000 | ||
Land | $ 699,037 | $ 709,099 | |
Buildings and improvements | 1,049,796 | 1,099,971 | |
Acquired real estate leases | 63,441 | 83,644 | |
Acquired Real Estate Lease Obligations | $ (12,435) | $ (14,630) | |
2021 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 5 | ||
Net rentable area | ft² | 1,644,508 | ||
Purchase price | $ 134,730 | ||
Real estate, acquisition costs | 1,030 | ||
Land | 9,732 | ||
Buildings and improvements | 115,007 | ||
Acquired real estate leases | 10,056 | ||
Acquired Real Estate Lease Obligations | $ (65) | ||
2020 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 2 | ||
2019 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 30 | ||
Net rentable area | ft² | 13,288,180 | ||
Purchase price | $ 941,550 | ||
Real estate, acquisition costs | 4,800 | ||
Land | 77,314 | ||
Buildings and improvements | 777,839 | ||
Acquired real estate leases | 87,030 | ||
Acquired Real Estate Lease Obligations | (1,965) | ||
Discount on Assumed Debt | $ 1,332 | ||
Office and Industrial Properties | 2021 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 4 | ||
Office and Industrial Properties | 2020 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 2 | ||
Net rentable area | ft² | 1,465,846 | ||
Purchase price | $ 115,813 | ||
Real estate, acquisition costs | 332 | ||
Land | 16,954 | ||
Buildings and improvements | 87,377 | ||
Acquired real estate leases | $ 11,482 | ||
Land | 2021 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 1 | ||
Dallas, Texas | 2021 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 1 | ||
Net rentable area | ft² | 0 | ||
Purchase price | $ 2,319 | ||
Land | 2,319 | ||
Buildings and improvements | 0 | ||
Acquired real estate leases | 0 | ||
Acquired Real Estate Lease Obligations | $ 0 | ||
Columbus, Ohio | 2019 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 2 | ||
Net rentable area | ft² | 392,016 | ||
Purchase price | $ 32,300 | ||
Land | 2,393 | ||
Buildings and improvements | 27,363 | ||
Acquired real estate leases | 2,544 | ||
Acquired Real Estate Lease Obligations | 0 | ||
Discount on Assumed Debt | $ 0 | ||
Columbus, Ohio | Office and Industrial Properties | 2021 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 1 | ||
Net rentable area | ft² | 357,504 | ||
Purchase price | $ 31,762 | ||
Land | 1,491 | ||
Buildings and improvements | 27,407 | ||
Acquired real estate leases | 2,864 | ||
Acquired Real Estate Lease Obligations | $ 0 | ||
Memphis, Tennessee | Office and Industrial Properties | 2021 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 3 | ||
Net rentable area | ft² | 1,287,004 | ||
Purchase price | $ 100,649 | ||
Land | 5,922 | ||
Buildings and improvements | 87,600 | ||
Acquired real estate leases | 7,192 | ||
Acquired Real Estate Lease Obligations | $ (65) | ||
Phoenix, AZ | Office and Industrial Properties | 2020 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 1 | ||
Net rentable area | ft² | 820,384 | ||
Purchase price | $ 71,628 | ||
Land | 11,214 | ||
Buildings and improvements | 54,676 | ||
Acquired real estate leases | $ 5,738 | ||
Kansas City, KS | Office and Industrial Properties | 2020 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 1 | ||
Net rentable area | ft² | 645,462 | ||
Purchase price | $ 44,185 | ||
Land | 5,740 | ||
Buildings and improvements | 32,701 | ||
Acquired real estate leases | $ 5,744 | ||
Two Mainland States | 2019 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 7 | ||
Net rentable area | ft² | 3,708,343 | ||
Purchase price | $ 250,276 | ||
Land | 19,558 | ||
Buildings and improvements | 205,811 | ||
Acquired real estate leases | 24,907 | ||
Acquired Real Estate Lease Obligations | 0 | ||
Discount on Assumed Debt | $ 0 | ||
Indianapolis, IN | 2019 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 1 | ||
Net rentable area | ft² | 493,500 | ||
Purchase price | $ 30,517 | ||
Land | 2,817 | ||
Buildings and improvements | 24,836 | ||
Acquired real estate leases | 2,864 | ||
Acquired Real Estate Lease Obligations | 0 | ||
Discount on Assumed Debt | $ 0 | ||
Twelve Mainland States | 2019 Acquisitions | |||
Real Estate [Line Items] | |||
Number of properties | property | 20 | ||
Net rentable area | ft² | 8,694,321 | ||
Purchase price | $ 628,457 | ||
Land | 52,546 | ||
Buildings and improvements | 519,829 | ||
Acquired real estate leases | 56,715 | ||
Acquired Real Estate Lease Obligations | (1,965) | ||
Discount on Assumed Debt | $ 1,332 |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Leases [Abstract] | |||
Straight line rental income | $ 7,263 | $ 9,041 | $ 4,345 |
Variable lease income | 38,732 | 45,858 | 40,898 |
Tenant reimbursements | $ 37,379 | $ 44,878 | $ 38,755 |
Leases - Schedule of Operating
Leases - Schedule of Operating Lease Maturities (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Leases [Abstract] | |
2022 | $ 168,063 |
2023 | 158,620 |
2024 | 144,767 |
2025 | 132,238 |
2026 | 126,105 |
Thereafter | 1,031,288 |
Total | $ 1,761,081 |
Indebtedness - Summary of Outst
Indebtedness - Summary of Outstanding Indebtedness (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021USD ($)optionproperty | Dec. 31, 2020USD ($) | |
Debt Instrument [Line Items] | ||
Principal Balance | $ 832,000 | $ 871,000 |
Unamortized debt issuance costs | (3,876) | (4,421) |
Carrying value | 828,124 | 866,579 |
Net Book Value of Collateral | $ 491,235 | |
Hawaii | ||
Debt Instrument [Line Items] | ||
Number of properties used as collateral | property | 186 | |
Revolving Credit Facility | ||
Debt Instrument [Line Items] | ||
Principal Balance | $ 182,000 | 221,000 |
Interest rate | 1.41% | |
Net Book Value of Collateral | $ 0 | |
Number of options to extend maturity date | option | 1 | |
Extension period | 6 months | |
Mortgages | ||
Debt Instrument [Line Items] | ||
Carrying value | $ 828,124 | |
Mortgages | Mortgage note payable (secured by 186 properties in Hawaii) | ||
Debt Instrument [Line Items] | ||
Number of properties used as collateral | property | 186 | |
Principal Balance | $ 650,000 | $ 650,000 |
Interest rate | 4.31% | |
Net Book Value of Collateral | $ 491,235 |
Indebtedness - Narrative (Detai
Indebtedness - Narrative (Details) ft² in Thousands | 1 Months Ended | 12 Months Ended | ||||||
May 31, 2020USD ($)property | Oct. 31, 2019USD ($)ft²stateproperty | Apr. 30, 2019USD ($)ft²property | Jan. 31, 2019USD ($)ft²property | Dec. 31, 2021USD ($)ft²option | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Feb. 11, 2022USD ($) | |
Debt Instrument [Line Items] | ||||||||
Amount outstanding on revolving credit facility | $ 182,000,000 | $ 221,000,000 | ||||||
Net rentable area (in sqft) | ft² | 33,991 | |||||||
Decrease in mortgage notes payable due to deconsolidation | $ 0 | 403,160,000 | $ 0 | |||||
Principal Balance | 832,000,000 | 871,000,000 | ||||||
Gain on early extinguishment of debt | 0 | $ 120,000 | $ 0 | |||||
Industrial Property | ||||||||
Debt Instrument [Line Items] | ||||||||
Number of properties | property | 20 | |||||||
Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity of revolving credit facility | $ 750,000,000 | |||||||
Number of options to extend maturity date | option | 1 | |||||||
Extension period | 6 months | |||||||
Line of credit maximum increase capacity | $ 1,500,000,000 | |||||||
Interest rate at period end | 1.41% | 1.70% | ||||||
Interest rate during period | 1.44% | 2.36% | 3.68% | |||||
Amount outstanding on revolving credit facility | $ 182,000,000 | |||||||
Remaining borrowing capacity on revolving credit facility | $ 568,000,000 | |||||||
Interest rate | 1.41% | |||||||
Principal Balance | $ 182,000,000 | $ 221,000,000 | ||||||
Revolving Credit Facility | Subsequent Event | ||||||||
Debt Instrument [Line Items] | ||||||||
Amount outstanding on revolving credit facility | $ 182,000,000 | |||||||
Remaining borrowing capacity on revolving credit facility | $ 568,000,000 | |||||||
Mortgages | Mortgage note payable (secured by one property in Virginia) | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (as a percent) | 3.48% | |||||||
Number of properties used as collateral | property | 1 | |||||||
Principal Balance | $ 48,750,000 | |||||||
London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Basis spread on variable rate | 1.30% | 1.55% | ||||||
Oahu | Mortgages | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt instrument, face amount | $ 650,000,000 | |||||||
Number of properties that are securing mortgage note | property | 186 | |||||||
Amount of square feet of property, securing mortgage note | ft² | 9,600 | |||||||
Interest rate (as a percent) | 4.31% | |||||||
Mainland Properties | Mortgages | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt instrument, face amount | $ 350,000,000 | |||||||
Number of properties that are securing mortgage note | property | 11 | |||||||
Amount of square feet of property, securing mortgage note | ft² | 8,200 | |||||||
Interest rate (as a percent) | 3.33% | |||||||
Number of states where real estate is located | state | 8 | |||||||
Decrease in mortgage notes payable due to deconsolidation | $ 350,000,000 | |||||||
Ruskin, FL | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate (as a percent) | 3.60% | |||||||
Unamortized discount | $ 1,332,000 | |||||||
Number of properties | property | 1 | |||||||
Interest rate | 4.22% | |||||||
Mortgage note assumed | $ 56,980,000 | |||||||
Net rentable area (in sqft) | ft² | 1,000 | |||||||
Decrease in mortgage notes payable due to deconsolidation | $ 56,980,000 |
Indebtedness - Summary of Futur
Indebtedness - Summary of Future Indebtedness Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Disclosure [Abstract] | ||
2022 | $ 182,000 | |
2023 | 0 | |
2024 | 0 | |
2025 | 0 | |
2026 | 0 | |
Thereafter | 650,000 | |
Long-term debt, gross | 832,000 | $ 871,000 |
Debt Instrument [Line Items] | ||
Debt outstanding | 828,124 | $ 866,579 |
Mortgage note payable | ||
Debt Instrument [Line Items] | ||
Unamortized debt issuance costs | 3,876 | |
Debt outstanding | $ 828,124 |
Fair Value of Assets and Liab_3
Fair Value of Assets and Liabilities - Carrying Value (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value of Financial Instruments | ||
Mortgage notes payable | $ 646,124 | $ 645,579 |
Carrying Amount | ||
Fair Value of Financial Instruments | ||
Mortgage notes payable | 646,124 | 645,579 |
Estimated Fair Value | ||
Fair Value of Financial Instruments | ||
Mortgage notes payable | 709,198 | 730,119 |
Mortgages | ||
Fair Value of Financial Instruments | ||
Unamortized premiums | $ 3,876 | $ 4,421 |
Fair Value of Assets and Liab_4
Fair Value of Assets and Liabilities - Assets Measured on Recurring Basis (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021USD ($)property | Dec. 31, 2020USD ($) | |
12 Mainland Properties | ||
Fair Value of Financial Instruments | ||
Ownership interest | 22.00% | |
Number of properties contributed | property | 18 | |
Fair Value, Inputs, Level 3 | ||
Fair Value of Financial Instruments | ||
Holding period | 10 years | |
Fair Value, Inputs, Level 3 | Minimum | Measurement Input, Direct Capitalization Rate | ||
Fair Value of Financial Instruments | ||
Equity Securities, FV-NI, Measurement Input | 0.0400 | |
Fair Value, Inputs, Level 3 | Minimum | Measurement Input, Discount Rate | ||
Fair Value of Financial Instruments | ||
Equity Securities, FV-NI, Measurement Input | 0.0525 | |
Fair Value, Inputs, Level 3 | Minimum | Measurement Input, Exit Capitalization Rate | ||
Fair Value of Financial Instruments | ||
Equity Securities, FV-NI, Measurement Input | 0.0450 | |
Fair Value, Inputs, Level 3 | Maximum | Measurement Input, Direct Capitalization Rate | ||
Fair Value of Financial Instruments | ||
Equity Securities, FV-NI, Measurement Input | 0.0450 | |
Fair Value, Inputs, Level 3 | Maximum | Measurement Input, Discount Rate | ||
Fair Value of Financial Instruments | ||
Equity Securities, FV-NI, Measurement Input | 0.0650 | |
Fair Value, Inputs, Level 3 | Maximum | Measurement Input, Exit Capitalization Rate | ||
Fair Value of Financial Instruments | ||
Equity Securities, FV-NI, Measurement Input | 0.0550 | |
Fair Value, Recurring | ||
Fair Value of Financial Instruments | ||
Investments in unconsolidated joint venture | $ 143,021 | $ 60,590 |
Fair Value, Recurring | Fair Value, Inputs, Level 1 | ||
Fair Value of Financial Instruments | ||
Investments in unconsolidated joint venture | 0 | 0 |
Fair Value, Recurring | Fair Value, Inputs, Level 2 | ||
Fair Value of Financial Instruments | ||
Investments in unconsolidated joint venture | 0 | 0 |
Fair Value, Recurring | Fair Value, Inputs, Level 3 | ||
Fair Value of Financial Instruments | ||
Investments in unconsolidated joint venture | $ 143,021 | $ 60,590 |
Shareholders' Equity - Share Aw
Shareholders' Equity - Share Awards (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021USD ($)installmentemployeeshares | Dec. 31, 2020USD ($)propertyemployeeshares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested shares (in shares) | 192,380 | 162,200 | 108,200 | 43,280 |
2022 (in shares) | 66,520 | |||
2023 (in shares) | 59,320 | |||
2024 (in shares) | 42,780 | |||
2025 (in shares) | 23,760 | |||
Estimated future compensation expense for the unvested shares | $ | $ 4,188 | |||
Weighted average period of which compensation expense will be recognized | 22 months | |||
Compensation expense | $ | $ 2,329 | $ 2,331 | $ 1,109 | |
Shares available for issuance under the award plan | 3,595,408 | |||
Trustees | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of officers | employee | 6 | 7 | ||
Number of officers elected | property | 2 | |||
Trustees | Common shares | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common shares granted (in shares) | 3,500 | 3,500 | 3,000 | |
Common shares granted | $ | $ 538 | $ 460 | $ 281 | |
Common shares granted per Trustee | $ | $ 90 | $ 66 | $ 56 | |
Trustees | Common shares | Common Stock As Part of Annual Compensation | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common shares granted (in shares) | 3,000 | |||
Common shares granted | $ | $ 141 | |||
Common shares granted per Trustee | $ | $ 71 | |||
RMR LLC | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common shares granted (in shares) | 118,800 | 108,600 | 104,200 | |
Common shares granted | $ | $ 3,086 | $ 2,460 | $ 2,260 | |
RMR LLC | Officers And Employees | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of equal annual installments | installment | 5 |
Shareholders' Equity - Summary
Shareholders' Equity - Summary of Unvested Shares Activity (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Unvested shares at the beginning of the period (in shares) | 162,200 | 108,200 | 43,280 |
Granted (in shares) | 139,800 | 139,100 | 119,200 |
Vested (in shares) | (108,920) | (84,520) | (52,880) |
Forfeited (in shares) | (700) | (580) | (1,400) |
Unvested shares at the end of the period (in shares) | 192,380 | 162,200 | 108,200 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Unvested shares at the beginning of the period (in dollars per share) | $ 22.37 | $ 22.08 | $ 23.33 |
Granted (in dollars per share) | 25.93 | 22.01 | 21.32 |
Vested (in dollars per share) | 23.78 | 21.41 | 20.78 |
Forfeited (in dollars per share) | 22.24 | 22.20 | 22.39 |
Unvested shares at the end of the period (in dollars per share) | $ 24.15 | $ 22.37 | $ 22.08 |
Shareholders' Equity - Common S
Shareholders' Equity - Common Share Purchases (Details) - Common shares - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share repurchases to pay for tax withholding (in shares) | 35,596 | 18,060 | 11,963 |
Share price (in dollars per share) | $ 25.91 | $ 21.16 | $ 21.19 |
Shareholders' Equity - Distribu
Shareholders' Equity - Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 13, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Dividends Payable [Line Items] | ||||
Distribution per share (in dollars per share) | $ 1.32 | $ 1.32 | $ 1.32 | |
Total Distributions | $ 86,236 | $ 86,089 | $ 85,937 | |
Distributions per share paid (in dollars per share) | 0.00% | 0.00% | 21.80% | |
Distribution characterization percentage, ordinary income | 93.20% | 71.00% | 78.20% | |
Distribution characterization percentage, capital gain | 6.80% | 29.00% | 0.00% | |
Subsequent Event | ||||
Dividends Payable [Line Items] | ||||
Common distributions declared (in dollars per share) | $ 0.33 | |||
Dividends payable | $ 21,600 |
Per Common Shares Amounts (Deta
Per Common Shares Amounts (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Numerators: | |||
Net income attributable to common shareholders | $ 119,682 | $ 82,071 | $ 52,498 |
Income attributable to unvested participating securities | (307) | (154) | (48) |
Net income attributable to common shareholders used in calculating earnings per share | $ 119,375 | $ 81,917 | $ 52,450 |
Denominators: | |||
Weighted average common shares for basic earnings per share (in shares) | 65,169 | 65,104 | 65,049 |
Effect of dilutive securities: unvested share awards (in shares) | 42 | 10 | 6 |
Weighted average common shares for diluted earnings per share (in shares) | 65,211 | 65,114 | 65,055 |
Net income attributable to common shareholders - basic (in dollars per share) | $ 1.83 | $ 1.26 | $ 0.81 |
Net income attributable to common shareholders - diluted (in dollars per share) | $ 1.83 | $ 1.26 | $ 0.81 |
Business and Property Managem_2
Business and Property Management Agreements with RMR LLC (Details) | 11 Months Ended | 12 Months Ended | |||
Nov. 30, 2020USD ($) | Dec. 31, 2021USD ($)employeeagreement$ / shares | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Jan. 17, 2018agreement | |
Related Party Transaction [Line Items] | |||||
Number of employees | employee | 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 | $ 10,562,000 | 12,983,000 | $ 11,897,000 | ||
Incentive management fee | 0 | 0 | 0 | ||
Due to related persons | $ 2,185,000 | 2,279,000 | |||
Term remaining prior to termination used in calculation of termination fee | 10 years | ||||
Reit Management And Research L L C | |||||
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% | ||||
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% | ||||
Base management fee payable threshold amount of other real estate investments | $ 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% | ||||
Base management fee payable as percentage of average market capitalization exceeding specified amount | 0.50% | ||||
Percentage for limitation and adjustments of incentive management fee payable | 12.00% | ||||
Period of consecutive trading days | 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 | $ 6,606,000 | 7,472,000 | 7,548,000 | ||
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 | ||||
Amended and Restated Asset Management Agreement | The Industrial Fund REIT Inc. | |||||
Related Party Transaction [Line Items] | |||||
Ownership interest | 22.00% | ||||
Minimum | Reit Management And Research L L C | |||||
Related Party Transaction [Line Items] | |||||
Termination fee term | 19 years | ||||
Maximum | Reit Management And Research L L C | |||||
Related Party Transaction [Line Items] | |||||
Termination fee term | 20 years | ||||
Reit Management And Research L L C | |||||
Related Party Transaction [Line Items] | |||||
Number of management service agreements | agreement | 2 | ||||
Business management fees | $ 1,005,000 | ||||
Reimbursement expense | $ 4,786,000 | 4,948,000 | 4,269,000 | ||
Reit Management And Research L L C | Property Management and Construction Supervision Fees | Other Operating Expenses | |||||
Related Party Transaction [Line Items] | |||||
Expenses from transactions | 6,395,000 | 7,267,000 | 6,697,000 | ||
Reit Management And Research L L C | Capitalized Costs [Member] | Investment Building and Building Improvements | |||||
Related Party Transaction [Line Items] | |||||
Due to related persons | $ 211,000 | $ 205,000 | $ 851,000 |
Related Person Transactions Nar
Related Person Transactions Narrative (Details) $ in Thousands | Jun. 30, 2019USD ($) | Dec. 31, 2021USD ($)agreementproperty | May 31, 2021USD ($) | Nov. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2021USD ($)agreementproperty | Dec. 31, 2020USD ($)property | Dec. 31, 2019USD ($) |
Related Party Transaction [Line Items] | ||||||||||
Due from related parties | $ 0 | $ 0 | $ 2,665 | |||||||
Distributions in excess of earnings from Affiliates Insurance Company | 0 | 287 | $ 8,334 | |||||||
Equity in earnings of investees | 40,918 | 529 | 666 | |||||||
Proceeds from sale of joint venture interests | 804 | 106,283 | 0 | |||||||
Due to related persons | $ 2,185 | $ 2,185 | 2,279 | |||||||
Dallas, TX | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Payments to acquire real estate | $ 2,319 | |||||||||
Acquisition related cost | $ 119 | |||||||||
RMR LLC | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Number of management service agreements | agreement | 2 | 2 | ||||||||
RMR LLC | Vesting on Grant Date | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Award vesting rights | 20.00% | |||||||||
RMR LLC | Vesting on each of the next four anniversaries | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Award vesting rights | 20.00% | |||||||||
AIC | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Distributions in excess of earnings from Affiliates Insurance Company | $ 12 | $ 287 | $ 9,000 | |||||||
Equity in earnings of investees | $ 666 | |||||||||
Carrying value of investments | $ 12 | |||||||||
12 Mainland Properties | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Number of properties contributed | property | 18 | 18 | 12 | |||||||
Proceeds from sale of joint venture interests | $ 160,516 | $ 108,812 | $ 108,676 | |||||||
12 Mainland Properties | Variable Interest Entity, Primary Beneficiary | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Equity in earnings of investees | $ 45,273 | |||||||||
Number of properties contributed | property | 6 | 6 | ||||||||
Post-Closing Adjustment | Industrial Fund | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Due from related parties | $ 2,665 | |||||||||
Rents Collected For Joint Venture | Industrial Fund | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Due to related persons | $ 225 | $ 225 | ||||||||
Annual Insurance Premiums | AIC | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Expenses from transactions | $ 266 |
SCHEDULE III - REAL ESTATE AN_2
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Real Estate Properties (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
May 31, 2020property | Dec. 31, 2021USD ($)loanproperty | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Initial Cost to Company | |||||
Land | $ 698,386 | ||||
Buildings and Equipment | 998,243 | ||||
Costs Capitalized Subsequent to Acquisition | 52,204 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 699,037 | ||||
Buildings and Equipment | 1,049,796 | ||||
Total | 1,748,833 | $ 1,809,070 | $ 2,335,964 | $ 1,462,396 | |
Accumulated Depreciation | (167,490) | $ (141,406) | $ (131,468) | $ (93,291) | |
Liabilities, fair value adjustment | 3,876 | ||||
U.S. federal income tax basis | $ 1,843,824 | ||||
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 | ||||
4501 Industrial Drive | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | 901 | ||||
Buildings and Equipment | 3,484 | ||||
Total | 4,385 | ||||
Accumulated Depreciation | (603) | ||||
955 Aeroplaza Drive | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
Initial Cost to Company | |||||
Land | 800 | ||||
Buildings and Equipment | 7,412 | ||||
Costs Capitalized Subsequent to Acquisition | 39 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 800 | ||||
Buildings and Equipment | 7,451 | ||||
Total | 8,251 | ||||
Accumulated Depreciation | (1,292) | ||||
13400 East 39th Avenue and 3800 Wheeling Street | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
Initial Cost to Company | |||||
Land | 3,100 | ||||
Buildings and Equipment | 12,955 | ||||
Costs Capitalized Subsequent to Acquisition | 5 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 3,100 | ||||
Buildings and Equipment | 12,960 | ||||
Total | 16,060 | ||||
Accumulated Depreciation | (2,243) | ||||
3870 Ronald Reagan Boulevard | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
Initial Cost to Company | |||||
Land | 2,780 | ||||
Buildings and Equipment | 9,722 | ||||
Costs Capitalized Subsequent to Acquisition | (1) | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,780 | ||||
Buildings and Equipment | 9,721 | ||||
Total | 12,501 | ||||
Accumulated Depreciation | (883) | ||||
150 Greenhorn Drive | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | (722) | ||||
2 Tower Drive | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
Initial Cost to Company | |||||
Land | 1,471 | ||||
Buildings and Equipment | 2,165 | ||||
Costs Capitalized Subsequent to Acquisition | 858 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,471 | ||||
Buildings and Equipment | 3,023 | ||||
Total | 4,494 | ||||
Accumulated Depreciation | (992) | ||||
235 Great Pond Road | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | (2,230) | ||||
10450 Doral Boulevard | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
Initial Cost to Company | |||||
Land | 15,225 | ||||
Buildings and Equipment | 28,102 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 15,225 | ||||
Buildings and Equipment | 28,102 | ||||
Total | 43,327 | ||||
Accumulated Depreciation | (3,280) | ||||
2100 NW 82nd Avenue | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | (892) | ||||
1000 Mapunapuna Street | |||||
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 | ||||
1001 Ahua Street | |||||
Initial Cost to Company | |||||
Land | 15,155 | ||||
Buildings and Equipment | 3,312 | ||||
Costs Capitalized Subsequent to Acquisition | 91 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 15,155 | ||||
Buildings and Equipment | 3,403 | ||||
Total | 18,558 | ||||
Accumulated Depreciation | (1,524) | ||||
1024 Kikowaena Place | |||||
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 | ||||
1024 Mapunapuna Street | |||||
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 | ||||
1027 Kikowaena Place | |||||
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 | ||||
1030 Mapunapuna Street | |||||
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 | ||||
1038 Kikowaena Place | |||||
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 | ||||
1045 Mapunapuna Street | |||||
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 | ||||
1050 Kikowaena Place | |||||
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 | (394) | ||||
1052 Ahua Street | |||||
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 | (98) | ||||
1055 Ahua Street | |||||
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 | ||||
1062 Kikowaena Place | |||||
Initial Cost to Company | |||||
Land | 1,113 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 274 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,113 | ||||
Buildings and Equipment | 274 | ||||
Total | 1,387 | ||||
Accumulated Depreciation | (97) | ||||
1062 Kikowaena Place | |||||
Initial Cost to Company | |||||
Land | 1,049 | ||||
Buildings and Equipment | 598 | ||||
Costs Capitalized Subsequent to Acquisition | 82 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,049 | ||||
Buildings and Equipment | 680 | ||||
Total | 1,729 | ||||
Accumulated Depreciation | (276) | ||||
1122 Mapunapuna Street | |||||
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 | ||||
113 Puuhale Road | |||||
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 | ||||
1150 Kikowaena Place | |||||
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 | ||||
120 Mokauea Street | |||||
Initial Cost to Company | |||||
Land | 1,953 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 1,096 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,953 | ||||
Buildings and Equipment | 1,096 | ||||
Total | 3,049 | ||||
Accumulated Depreciation | (188) | ||||
120 Sand Island Access Road | |||||
Initial Cost to Company | |||||
Land | 1,132 | ||||
Buildings and Equipment | 11,307 | ||||
Costs Capitalized Subsequent to Acquisition | 1,423 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,132 | ||||
Buildings and Equipment | 12,730 | ||||
Total | 13,862 | ||||
Accumulated Depreciation | (5,295) | ||||
120B Mokauea Street | |||||
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 | ||||
125 Puuhale Road | |||||
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 | ||||
125B Puuhale Road | |||||
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 | ||||
1330 Pali Highway | |||||
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 | ||||
1360 Pali Highway | |||||
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 | (135) | ||||
140 Puuhale Road | |||||
Initial Cost to Company | |||||
Land | 1,100 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 41 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,100 | ||||
Buildings and Equipment | 41 | ||||
Total | 1,141 | ||||
Accumulated Depreciation | (3) | ||||
142 Mokauea Street | |||||
Initial Cost to Company | |||||
Land | 2,182 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 1,576 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,182 | ||||
Buildings and Equipment | 1,576 | ||||
Total | 3,758 | ||||
Accumulated Depreciation | (488) | ||||
148 Mokauea Street | |||||
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 | ||||
150 Puuhale Road | |||||
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 | ||||
151 Puuhale Road | |||||
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 | ||||
158 Sand Island Access Road | |||||
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 | ||||
165 Sand Island Access Road | |||||
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 | ||||
179 Sand Island Access Road | |||||
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 | ||||
180 Sand Island Access Road | |||||
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 | ||||
1926 Auiki Street | |||||
Initial Cost to Company | |||||
Land | 2,872 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 1,722 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,872 | ||||
Buildings and Equipment | 1,722 | ||||
Total | 4,594 | ||||
Accumulated Depreciation | (645) | ||||
1931 Kahai Street | |||||
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 | ||||
197 Sand Island Access Road | |||||
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 | ||||
2001 Kahai Street | |||||
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 | ||||
2019 Kahai Street | |||||
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 | ||||
2020 Auiki Street | |||||
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 | ||||
204 Sand Island Access Road | |||||
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 | ||||
207 Puuhale Road | |||||
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 | ||||
2103 Kaliawa Street | |||||
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 | ||||
2106 Kaliawa Street | |||||
Initial Cost to Company | |||||
Land | 1,568 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 228 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,568 | ||||
Buildings and Equipment | 228 | ||||
Total | 1,796 | ||||
Accumulated Depreciation | (105) | ||||
2110 Auiki Street | |||||
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 | ||||
212 Mohonua Place | |||||
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 | ||||
2122 Kaliawa Street | |||||
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 | ||||
2127 Auiki Street | |||||
Initial Cost to Company | |||||
Land | 2,906 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 67 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,906 | ||||
Buildings and Equipment | 67 | ||||
Total | 2,973 | ||||
Accumulated Depreciation | (33) | ||||
2135 Auiki Street | |||||
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 | ||||
2139 Kaliawa Street | |||||
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 | ||||
214 Sand Island Access Road | |||||
Initial Cost to Company | |||||
Land | 1,864 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 593 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,864 | ||||
Buildings and Equipment | 593 | ||||
Total | 2,457 | ||||
Accumulated Depreciation | (127) | ||||
2140 Kaliawa Street | |||||
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 | ||||
2144 Auiki Street | |||||
Initial Cost to Company | |||||
Land | 2,640 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 7,299 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,640 | ||||
Buildings and Equipment | 7,299 | ||||
Total | 9,939 | ||||
Accumulated Depreciation | (2,703) | ||||
215 Puuhale Road | |||||
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 | ||||
218 Mohonua Place | |||||
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 | ||||
220 Puuhale Road | |||||
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 | ||||
2250 Pahounui Drive | |||||
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 | ||||
2264 Pahounui Drive | |||||
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 | ||||
2276 Pahounui Drive | |||||
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 | ||||
228 Mohonua Place | |||||
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 | ||||
2308 Pahounui Drive | |||||
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 | ||||
231 Sand Island Access Road | |||||
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 | ||||
231B Sand Island Access Road | |||||
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 | ||||
2344 Pahounui Drive | |||||
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 | ||||
238 Sand Island Access Road | |||||
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 | ||||
2635 Waiwai Loop A | |||||
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 | (299) | ||||
2635 Waiwai Loop B | |||||
Initial Cost to Company | |||||
Land | 1,177 | ||||
Buildings and Equipment | 105 | ||||
Costs Capitalized Subsequent to Acquisition | 682 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,177 | ||||
Buildings and Equipment | 787 | ||||
Total | 1,964 | ||||
Accumulated Depreciation | (188) | ||||
2760 Kam Highway | |||||
Initial Cost to Company | |||||
Land | 703 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 191 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 703 | ||||
Buildings and Equipment | 191 | ||||
Total | 894 | ||||
Accumulated Depreciation | (10) | ||||
2804 Kilihau Street | |||||
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 | 0 | ||||
2806 Kaihikapu Street | |||||
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 | ||||
2808 Kam Highway | |||||
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 | ||||
2809 Kaihikapu Street | |||||
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 | ||||
2810 Paa Street | |||||
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 | ||||
2810 Pukoloa Street | |||||
Initial Cost to Company | |||||
Land | 27,699 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 27,699 | ||||
Buildings and Equipment | 0 | ||||
Total | 27,699 | ||||
Accumulated Depreciation | 0 | ||||
2812 Awaawaloa Street | |||||
Initial Cost to Company | |||||
Land | 1,801 | ||||
Buildings and Equipment | 3 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,801 | ||||
Buildings and Equipment | 3 | ||||
Total | 1,804 | ||||
Accumulated Depreciation | (2) | ||||
2814 Kilihau Street | |||||
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 | ||||
2815 Kaihikapu Street | |||||
Initial Cost to Company | |||||
Land | 1,818 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 6 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,818 | ||||
Buildings and Equipment | 6 | ||||
Total | 1,824 | ||||
Accumulated Depreciation | (2) | ||||
2815 Kilihau Street | |||||
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 | ||||
2816 Awaawaloa Street | |||||
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 | (12) | ||||
2819 Mokumoa Street - A | |||||
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 | ||||
2819 Mokumoa Street - B | |||||
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 | ||||
2819 Pukoloa Street | |||||
Initial Cost to Company | |||||
Land | 2,090 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 34 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,090 | ||||
Buildings and Equipment | 34 | ||||
Total | 2,124 | ||||
Accumulated Depreciation | (11) | ||||
2821 Kilihau Street | |||||
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 | ||||
2826 Kaihikapu Street | |||||
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 | ||||
2827 Kaihikapu Street | |||||
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 | ||||
2828 Paa Street | |||||
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 | ||||
2829 Awaawaloa Street | |||||
Initial Cost to Company | |||||
Land | 1,720 | ||||
Buildings and Equipment | 2 | ||||
Costs Capitalized Subsequent to Acquisition | (2) | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,720 | ||||
Buildings and Equipment | 0 | ||||
Total | 1,720 | ||||
Accumulated Depreciation | 0 | ||||
2829 Kilihau Street | |||||
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 | ||||
2829 Pukoloa Street | |||||
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 | ||||
2830 Mokumoa Street | |||||
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 | ||||
2831 Awaawaloa Street | |||||
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 | ||||
2831 Kaihikapu Street | |||||
Initial Cost to Company | |||||
Land | 1,272 | ||||
Buildings and Equipment | 529 | ||||
Costs Capitalized Subsequent to Acquisition | 55 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,272 | ||||
Buildings and Equipment | 584 | ||||
Total | 1,856 | ||||
Accumulated Depreciation | (262) | ||||
2833 Kilihau Street | |||||
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 | ||||
2833 Paa Street | |||||
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 | ||||
2833 Paa Street #2 | |||||
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 | ||||
2836 Awaawaloa Street | |||||
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 | ||||
2838 Kilihau Street | |||||
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 | ||||
2839 Kilihau Street | |||||
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 | ||||
2839 Mokumoa Street | |||||
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 | ||||
2840 Mokumoa Street | |||||
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 | ||||
2841 Pukoloa Street | |||||
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 | ||||
2844 Kaihikapu Street | |||||
Initial Cost to Company | |||||
Land | 1,960 | ||||
Buildings and Equipment | 14 | ||||
Costs Capitalized Subsequent to Acquisition | (14) | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,960 | ||||
Buildings and Equipment | 0 | ||||
Total | 1,960 | ||||
Accumulated Depreciation | 0 | ||||
2846-A Awaawaloa Street | |||||
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 | (430) | ||||
2847 Awaawaloa Street | |||||
Initial Cost to Company | |||||
Land | 582 | ||||
Buildings and Equipment | 303 | ||||
Costs Capitalized Subsequent to Acquisition | 184 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 582 | ||||
Buildings and Equipment | 487 | ||||
Total | 1,069 | ||||
Accumulated Depreciation | (144) | ||||
2849 Kaihikapu Street | |||||
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 | ||||
2850 Awaawaloa Street | |||||
Initial Cost to Company | |||||
Land | 287 | ||||
Buildings and Equipment | 172 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 287 | ||||
Buildings and Equipment | 172 | ||||
Total | 459 | ||||
Accumulated Depreciation | (78) | ||||
2850 Mokumoa Street | |||||
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 | ||||
2850 Paa Street | |||||
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 | ||||
2855 Kaihikapu Street | |||||
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 | ||||
2855 Pukoloa Street | |||||
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 | ||||
2857 Awaawaloa Street | |||||
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 | ||||
2858 Kaihikapu Street | |||||
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 | ||||
2861 Mokumoa Street | |||||
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 | ||||
2864 Awaawaloa Street | |||||
Initial Cost to Company | |||||
Land | 1,836 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 7 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,836 | ||||
Buildings and Equipment | 7 | ||||
Total | 1,843 | ||||
Accumulated Depreciation | (6) | ||||
2864 Mokumoa Street | |||||
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 | ||||
2865 Pukoloa Street | |||||
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 | ||||
2868 Kaihikapu Street | |||||
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 | ||||
2869 Mokumoa Street | |||||
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 | ||||
2875 Paa Street | |||||
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 | ||||
2879 Mokumoa Street | |||||
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 | ||||
2879 Paa Street | |||||
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 | (15) | ||||
2886 Paa Street | |||||
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 | ||||
2889 Mokumoa Street | |||||
Initial Cost to Company | |||||
Land | 1,783 | ||||
Buildings and Equipment | 5 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,783 | ||||
Buildings and Equipment | 5 | ||||
Total | 1,788 | ||||
Accumulated Depreciation | 0 | ||||
2906 Kaihikapu Street | |||||
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) | ||||
2908 Kaihikapu Street | |||||
Initial Cost to Company | |||||
Land | 1,798 | ||||
Buildings and Equipment | 23 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,798 | ||||
Buildings and Equipment | 23 | ||||
Total | 1,821 | ||||
Accumulated Depreciation | (3) | ||||
2915 Kaihikapu Street | |||||
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 | ||||
2927 Mokumoa Street | |||||
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 | ||||
2928 Kaihikapu Street - A | |||||
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 | ||||
2928 Kaihikapu Street - B | |||||
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 | ||||
2960 Mokumoa Street | |||||
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 | ||||
2965 Mokumoa Street | |||||
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 | ||||
2969 Mapunapuna Street | |||||
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 | (10) | ||||
2970 Mokumoa Street | |||||
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 | ||||
33 S. Vineyard Boulevard | |||||
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 | ||||
525 N. King Street | |||||
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 | ||||
609 Ahua Street | |||||
Initial Cost to Company | |||||
Land | 616 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 616 | ||||
Buildings and Equipment | 0 | ||||
Total | 616 | ||||
Accumulated Depreciation | 0 | ||||
619 Mapunapuna Street | |||||
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 | (3) | ||||
645 Ahua Street | |||||
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 | ||||
659 Ahua Street | |||||
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 | (19) | ||||
659 Puuloa Road | |||||
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 | ||||
660 Ahua Street | |||||
Initial Cost to Company | |||||
Land | 1,783 | ||||
Buildings and Equipment | 4 | ||||
Costs Capitalized Subsequent to Acquisition | (1) | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,783 | ||||
Buildings and Equipment | 3 | ||||
Total | 1,786 | ||||
Accumulated Depreciation | (3) | ||||
667 Puuloa Road | |||||
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) | ||||
669 Ahua Street | |||||
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 | (29) | ||||
673 Ahua Street | |||||
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 | ||||
675 Mapunapuna Street | |||||
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 | ||||
679 Puuloa Road | |||||
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 | (3) | ||||
685 Ahua Street | |||||
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 | ||||
689 Puuloa Road | |||||
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 | (19) | ||||
692 Mapunapuna Street | |||||
Initial Cost to Company | |||||
Land | 1,796 | ||||
Buildings and Equipment | 2 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,796 | ||||
Buildings and Equipment | 2 | ||||
Total | 1,798 | ||||
Accumulated Depreciation | 0 | ||||
697 Ahua Street | |||||
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 | (367) | ||||
702 Ahua Street | |||||
Initial Cost to Company | |||||
Land | 1,784 | ||||
Buildings and Equipment | 3 | ||||
Costs Capitalized Subsequent to Acquisition | 1 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,784 | ||||
Buildings and Equipment | 4 | ||||
Total | 1,788 | ||||
Accumulated Depreciation | (4) | ||||
704 Mapunapuna Street | |||||
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 | (309) | ||||
709 Ahua Street | |||||
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 | ||||
719 Ahua Street | |||||
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 | ||||
729 Ahua Street | |||||
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 | ||||
733 Mapunapuna Street | |||||
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 | ||||
739 Ahua Street | |||||
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 | ||||
759 Puuloa Road | |||||
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) | ||||
761 Ahua Street | |||||
Initial Cost to Company | |||||
Land | 3,757 | ||||
Buildings and Equipment | 2 | ||||
Costs Capitalized Subsequent to Acquisition | 341 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 3,757 | ||||
Buildings and Equipment | 343 | ||||
Total | 4,100 | ||||
Accumulated Depreciation | (4) | ||||
766 Mapunapuna Street | |||||
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 | ||||
770 Mapunapuna Street | |||||
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 | ||||
789 Mapunapuna Street | |||||
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 | (3) | ||||
80 Sand Island Access Road | |||||
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 | ||||
803 Ahua Street | |||||
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 | ||||
808 Ahua Street | |||||
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 | ||||
812 Mapunapuna Street | |||||
Initial Cost to Company | |||||
Land | 1,960 | ||||
Buildings and Equipment | 25 | ||||
Costs Capitalized Subsequent to Acquisition | 625 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,610 | ||||
Buildings and Equipment | 0 | ||||
Total | 2,610 | ||||
Accumulated Depreciation | 0 | ||||
819 Ahua Street | |||||
Initial Cost to Company | |||||
Land | 4,821 | ||||
Buildings and Equipment | 583 | ||||
Costs Capitalized Subsequent to Acquisition | 9 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 4,821 | ||||
Buildings and Equipment | 592 | ||||
Total | 5,413 | ||||
Accumulated Depreciation | (272) | ||||
822 Mapunapuna Street | |||||
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 | (15) | ||||
830 Mapunapuna Street | |||||
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 | (23) | ||||
855 Mapunapuna Street | |||||
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 | ||||
842 Mapunapuna Street | |||||
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 | (13) | ||||
846 Ala Lilikoi Boulevard B | |||||
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 | ||||
848 Ala Lilikoi Boulevard A | |||||
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 | ||||
850 Ahua Street | |||||
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) | ||||
852 Mapunapuna Street | |||||
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 | ||||
855 Ahua Street | |||||
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 | ||||
865 Ahua Street | |||||
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 | ||||
889 Ahua Street | |||||
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 | (72) | ||||
905 Ahua Street | |||||
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 | ||||
918 Ahua Street | |||||
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 | ||||
930 Mapunapuna Street | |||||
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 | ||||
944 Ahua Street | |||||
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 | ||||
949 Mapunapuna Street | |||||
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 | ||||
950 Mapunapuna Street | |||||
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 | ||||
960 Ahua Street | |||||
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 | ||||
960 Mapunapuna Street | |||||
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 | ||||
970 Ahua Street | |||||
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 | ||||
91-027 Kaomi Loop | |||||
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 | ||||
91-064 Kaomi Loop | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-080 Hanua | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-083 Hanua | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-086 Kaomi Loop | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-087 Hanua | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-091 Hanua | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-102 Kaomi Loop | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-110 Kaomi Loop | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-119 Olai | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-141 Kalaeloa | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-150 Kaomi Loop | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-171 Olai | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
Initial Cost to Company | |||||
Land | 218 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 13 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 218 | ||||
Buildings and Equipment | 13 | ||||
Total | 231 | ||||
Accumulated Depreciation | (5) | ||||
91-174 Olai | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | (25) | ||||
91-175 Olai | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | (26) | ||||
91-185 Kalaeloa | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
Initial Cost to Company | |||||
Land | 1,761 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 23 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,761 | ||||
Buildings and Equipment | 23 | ||||
Total | 1,784 | ||||
Accumulated Depreciation | 0 | ||||
91-202 Kalaeloa | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | (69) | ||||
91-120 Kauhi | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
Initial Cost to Company | |||||
Land | 567 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 411 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 567 | ||||
Buildings and Equipment | 411 | ||||
Total | 978 | ||||
Accumulated Depreciation | 0 | ||||
91-210 Olai | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | |||||
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 | ||||
91-218 Olai | |||||
Initial Cost to Company | |||||
Land | 1,622 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 62 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,622 | ||||
Buildings and Equipment | 62 | ||||
Total | 1,684 | ||||
Accumulated Depreciation | (30) | ||||
91-220 Kalaeloa | |||||
Initial Cost to Company | |||||
Land | 242 | ||||
Buildings and Equipment | 1,457 | ||||
Costs Capitalized Subsequent to Acquisition | 141 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 242 | ||||
Buildings and Equipment | 1,598 | ||||
Total | 1,840 | ||||
Accumulated Depreciation | (635) | ||||
91-222 Olai | |||||
Initial Cost to Company | |||||
Land | 2,035 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 14 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,035 | ||||
Buildings and Equipment | 14 | ||||
Total | 2,049 | ||||
Accumulated Depreciation | 0 | ||||
91-238 Kauhi | |||||
Initial Cost to Company | |||||
Land | 1,390 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 9,495 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,390 | ||||
Buildings and Equipment | 9,495 | ||||
Total | 10,885 | ||||
Accumulated Depreciation | (3,333) | ||||
91-241 Kalaeloa | |||||
Initial Cost to Company | |||||
Land | 426 | ||||
Buildings and Equipment | 3,983 | ||||
Costs Capitalized Subsequent to Acquisition | 874 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 426 | ||||
Buildings and Equipment | 4,857 | ||||
Total | 5,283 | ||||
Accumulated Depreciation | (1,871) | ||||
91-250 Komohana | |||||
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 | ||||
91-252 Kauhi | |||||
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 | ||||
91-255 Hanua | |||||
Initial Cost to Company | |||||
Land | 1,230 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 35 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,230 | ||||
Buildings and Equipment | 35 | ||||
Total | 1,265 | ||||
Accumulated Depreciation | (6) | ||||
91-259 Olai | |||||
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 | ||||
91-265 Hanua | |||||
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 | ||||
91-300 Hanua | |||||
Initial Cost to Company | |||||
Land | 1,381 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 18 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,381 | ||||
Buildings and Equipment | 18 | ||||
Total | 1,399 | ||||
Accumulated Depreciation | (1) | ||||
91-329 Kauhi | |||||
Initial Cost to Company | |||||
Land | 294 | ||||
Buildings and Equipment | 2,297 | ||||
Costs Capitalized Subsequent to Acquisition | 2,783 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 294 | ||||
Buildings and Equipment | 5,080 | ||||
Total | 5,374 | ||||
Accumulated Depreciation | (1,938) | ||||
91-349 Kauhi | |||||
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 | ||||
91-399 Kauhi | |||||
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 | ||||
91-400 Komohana | |||||
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 | ||||
91-410 Komohana | |||||
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 | (5) | ||||
91-416 Komohana | |||||
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 | (4) | ||||
AES HI Easement | |||||
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 | ||||
Other Easements & Lots | |||||
Initial Cost to Company | |||||
Land | 358 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 1,437 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 358 | ||||
Buildings and Equipment | 1,437 | ||||
Total | 1,795 | ||||
Accumulated Depreciation | (600) | ||||
Tesaro 967 Easement | |||||
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 | ||||
Texaco Easement | |||||
Initial Cost to Company | |||||
Land | 2,657 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,657 | ||||
Buildings and Equipment | 0 | ||||
Total | 2,657 | ||||
Accumulated Depreciation | 0 | ||||
94-240 Pupuole Street | |||||
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 | ||||
951 Trails Road | |||||
Initial Cost to Company | |||||
Land | 470 | ||||
Buildings and Equipment | 7,480 | ||||
Costs Capitalized Subsequent to Acquisition | 1,469 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 470 | ||||
Buildings and Equipment | 8,949 | ||||
Total | 9,419 | ||||
Accumulated Depreciation | (3,138) | ||||
3425 Maple Drive | |||||
Initial Cost to Company | |||||
Land | 100 | ||||
Buildings and Equipment | 2,000 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 100 | ||||
Buildings and Equipment | 2,000 | ||||
Total | 2,100 | ||||
Accumulated Depreciation | (156) | ||||
2300 North 33rd Avenue East | |||||
Initial Cost to Company | |||||
Land | 500 | ||||
Buildings and Equipment | 13,236 | ||||
Costs Capitalized Subsequent to Acquisition | 117 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 500 | ||||
Buildings and Equipment | 13,353 | ||||
Total | 13,853 | ||||
Accumulated Depreciation | (4,430) | ||||
7121 South Fifth Avenue | |||||
Initial Cost to Company | |||||
Land | 400 | ||||
Buildings and Equipment | 4,201 | ||||
Costs Capitalized Subsequent to Acquisition | 436 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 400 | ||||
Buildings and Equipment | 4,637 | ||||
Total | 5,037 | ||||
Accumulated Depreciation | (773) | ||||
1230 West 171st Street | |||||
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 | (290) | ||||
5156 American Road | |||||
Initial Cost to Company | |||||
Land | 400 | ||||
Buildings and Equipment | 1,529 | ||||
Costs Capitalized Subsequent to Acquisition | 321 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 400 | ||||
Buildings and Equipment | 1,850 | ||||
Total | 2,250 | ||||
Accumulated Depreciation | (325) | ||||
3201 Bearing Drive | |||||
Initial Cost to Company | |||||
Land | 1,100 | ||||
Buildings and Equipment | 15,403 | ||||
Costs Capitalized Subsequent to Acquisition | (2) | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,100 | ||||
Buildings and Equipment | 15,401 | ||||
Total | 16,501 | ||||
Accumulated Depreciation | (1,401) | ||||
2482 Century Drive | |||||
Initial Cost to Company | |||||
Land | 840 | ||||
Buildings and Equipment | 9,061 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 840 | ||||
Buildings and Equipment | 9,061 | ||||
Total | 9,901 | ||||
Accumulated Depreciation | (706) | ||||
6825 West County Road 400 North | |||||
Initial Cost to Company | |||||
Land | 918 | ||||
Buildings and Equipment | 14,300 | ||||
Costs Capitalized Subsequent to Acquisition | 924 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 918 | ||||
Buildings and Equipment | 15,224 | ||||
Total | 16,142 | ||||
Accumulated Depreciation | (1,262) | ||||
900 Commerce Parkway West Drive | |||||
Initial Cost to Company | |||||
Land | 1,483 | ||||
Buildings and Equipment | 16,253 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,483 | ||||
Buildings and Equipment | 16,253 | ||||
Total | 17,736 | ||||
Accumulated Depreciation | (1,338) | ||||
9347 E Pendleton Pike | |||||
Initial Cost to Company | |||||
Land | 3,763 | ||||
Buildings and Equipment | 34,877 | ||||
Costs Capitalized Subsequent to Acquisition | 1 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 3,763 | ||||
Buildings and Equipment | 34,878 | ||||
Total | 38,641 | ||||
Accumulated Depreciation | (2,870) | ||||
17001 West Mercury Street | |||||
Initial Cost to Company | |||||
Land | 5,741 | ||||
Buildings and Equipment | 32,701 | ||||
Costs Capitalized Subsequent to Acquisition | 37 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 5,741 | ||||
Buildings and Equipment | 32,738 | ||||
Total | 38,479 | ||||
Accumulated Depreciation | (820) | ||||
1985 International Way | |||||
Initial Cost to Company | |||||
Land | 1,453 | ||||
Buildings and Equipment | 8,546 | ||||
Costs Capitalized Subsequent to Acquisition | 1,293 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,453 | ||||
Buildings and Equipment | 9,839 | ||||
Total | 11,292 | ||||
Accumulated Depreciation | (928) | ||||
17200 Manchac Park Lane | |||||
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 | (1,532) | ||||
209 South Bud Street | |||||
Initial Cost to Company | |||||
Land | 700 | ||||
Buildings and Equipment | 4,549 | ||||
Costs Capitalized Subsequent to Acquisition | 41 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 700 | ||||
Buildings and Equipment | 4,590 | ||||
Total | 5,290 | ||||
Accumulated Depreciation | (791) | ||||
4000 Principio Parkway | |||||
Initial Cost to Company | |||||
Land | 4,200 | ||||
Buildings and Equipment | 71,518 | ||||
Costs Capitalized Subsequent to Acquisition | 803 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 4,200 | ||||
Buildings and Equipment | 72,321 | ||||
Total | 76,521 | ||||
Accumulated Depreciation | (12,468) | ||||
3800 Midlink Drive | |||||
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 | (7,021) | ||||
2401 Cram Avenue SE | |||||
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 | (370) | ||||
10100 89th Avenue N | |||||
Initial Cost to Company | |||||
Land | 3,469 | ||||
Buildings and Equipment | 21,284 | ||||
Costs Capitalized Subsequent to Acquisition | 450 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 3,469 | ||||
Buildings and Equipment | 21,734 | ||||
Total | 25,203 | ||||
Accumulated Depreciation | (1,915) | ||||
110 Stanbury Industrial Drive | |||||
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 | (321) | ||||
3502 Enterprise Avenue | |||||
Initial Cost to Company | |||||
Land | 1,380 | ||||
Buildings and Equipment | 12,121 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,380 | ||||
Buildings and Equipment | 12,121 | ||||
Total | 13,501 | ||||
Accumulated Depreciation | (945) | ||||
5501 Providence Hill Drive | |||||
Initial Cost to Company | |||||
Land | 400 | ||||
Buildings and Equipment | 3,500 | ||||
Costs Capitalized Subsequent to Acquisition | 24 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 400 | ||||
Buildings and Equipment | 3,524 | ||||
Total | 3,924 | ||||
Accumulated Depreciation | (280) | ||||
628 Patton Avenue | |||||
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 | (262) | ||||
3900 NE 6th Street | |||||
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 | (557) | ||||
1415 West Commerce Way | |||||
Initial Cost to Company | |||||
Land | 2,200 | ||||
Buildings and Equipment | 8,518 | ||||
Costs Capitalized Subsequent to Acquisition | 388 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,200 | ||||
Buildings and Equipment | 8,906 | ||||
Total | 11,106 | ||||
Accumulated Depreciation | (1,532) | ||||
52 Pettengill Road | |||||
Initial Cost to Company | |||||
Land | 5,871 | ||||
Buildings and Equipment | 43,335 | ||||
Costs Capitalized Subsequent to Acquisition | 7 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 5,871 | ||||
Buildings and Equipment | 43,342 | ||||
Total | 49,213 | ||||
Accumulated Depreciation | (3,378) | ||||
309 Dulty's Lane | |||||
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 | (8,888) | ||||
725 Darlington Avenue | |||||
Initial Cost to Company | |||||
Land | 8,492 | ||||
Buildings and Equipment | 9,451 | ||||
Costs Capitalized Subsequent to Acquisition | 1,804 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 8,492 | ||||
Buildings and Equipment | 11,255 | ||||
Total | 19,747 | ||||
Accumulated Depreciation | (2,135) | ||||
2375 East Newlands Road | |||||
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 | (3,075) | ||||
7000 West Post Road | |||||
Initial Cost to Company | |||||
Land | 4,230 | ||||
Buildings and Equipment | 13,472 | ||||
Costs Capitalized Subsequent to Acquisition | 246 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 4,230 | ||||
Buildings and Equipment | 13,718 | ||||
Total | 17,948 | ||||
Accumulated Depreciation | (1,265) | ||||
55 Commerce Avenue | |||||
Initial Cost to Company | |||||
Land | 1,000 | ||||
Buildings and Equipment | 10,105 | ||||
Costs Capitalized Subsequent to Acquisition | 180 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,000 | ||||
Buildings and Equipment | 10,285 | ||||
Total | 11,285 | ||||
Accumulated Depreciation | (1,797) | ||||
158 West Yard Road | |||||
Initial Cost to Company | |||||
Land | 1,870 | ||||
Buildings and Equipment | 7,931 | ||||
Costs Capitalized Subsequent to Acquisition | 41 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,870 | ||||
Buildings and Equipment | 7,972 | ||||
Total | 9,842 | ||||
Accumulated Depreciation | (1,082) | ||||
32150 Just Imagine Drive | |||||
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 | (7,324) | ||||
1415 Industrial Drive | |||||
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 | (565) | ||||
1580, 1590 & 1600 Williams Road | |||||
Initial Cost to Company | |||||
Land | 2,060 | ||||
Buildings and Equipment | 29,143 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,060 | ||||
Buildings and Equipment | 29,143 | ||||
Total | 31,203 | ||||
Accumulated Depreciation | (2,650) | ||||
7303 Rickenbacker Parkway Trust | |||||
Initial Cost to Company | |||||
Land | 1,491 | ||||
Buildings and Equipment | 27,407 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,491 | ||||
Buildings and Equipment | 27,407 | ||||
Total | 28,898 | ||||
Accumulated Depreciation | (413) | ||||
5300 Centerpoint Parkway | |||||
Initial Cost to Company | |||||
Land | 2,700 | ||||
Buildings and Equipment | 29,863 | ||||
Costs Capitalized Subsequent to Acquisition | 68 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,700 | ||||
Buildings and Equipment | 29,931 | ||||
Total | 32,631 | ||||
Accumulated Depreciation | (5,173) | ||||
200 Orange Point Drive | |||||
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 | (1,543) | ||||
301 Commerce Drive | |||||
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 | (783) | ||||
2820 State Highway 31 | |||||
Initial Cost to Company | |||||
Land | 581 | ||||
Buildings and Equipment | 2,237 | ||||
Costs Capitalized Subsequent to Acquisition | 4,582 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 581 | ||||
Buildings and Equipment | 6,819 | ||||
Total | 7,400 | ||||
Accumulated Depreciation | (879) | ||||
1990 Hood Road | |||||
Initial Cost to Company | |||||
Land | 400 | ||||
Buildings and Equipment | 10,702 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 400 | ||||
Buildings and Equipment | 10,702 | ||||
Total | 11,102 | ||||
Accumulated Depreciation | (834) | ||||
996 Paragon Way | |||||
Initial Cost to Company | |||||
Land | 2,334 | ||||
Buildings and Equipment | 35,920 | ||||
Costs Capitalized Subsequent to Acquisition | (1) | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,334 | ||||
Buildings and Equipment | 35,919 | ||||
Total | 38,253 | ||||
Accumulated Depreciation | (6,212) | ||||
700 Marine Drive | |||||
Initial Cost to Company | |||||
Land | 820 | ||||
Buildings and Equipment | 8,381 | ||||
Costs Capitalized Subsequent to Acquisition | 669 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 820 | ||||
Buildings and Equipment | 9,050 | ||||
Total | 9,870 | ||||
Accumulated Depreciation | (829) | ||||
510 John Dodd Road | |||||
Initial Cost to Company | |||||
Land | 3,300 | ||||
Buildings and Equipment | 57,998 | ||||
Costs Capitalized Subsequent to Acquisition | 347 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 3,300 | ||||
Buildings and Equipment | 58,345 | ||||
Total | 61,645 | ||||
Accumulated Depreciation | (10,076) | ||||
5001 West Delbridge Street | |||||
Initial Cost to Company | |||||
Land | 2,570 | ||||
Buildings and Equipment | 14,832 | ||||
Costs Capitalized Subsequent to Acquisition | 0 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,570 | ||||
Buildings and Equipment | 14,832 | ||||
Total | 17,402 | ||||
Accumulated Depreciation | (1,156) | ||||
4836 Hickory Hill Road | |||||
Initial Cost to Company | |||||
Land | 1,402 | ||||
Buildings and Equipment | 10,769 | ||||
Costs Capitalized Subsequent to Acquisition | 1,429 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,402 | ||||
Buildings and Equipment | 12,198 | ||||
Total | 13,600 | ||||
Accumulated Depreciation | (2,114) | ||||
2020 Joe B. Jackson Parkway | |||||
Initial Cost to Company | |||||
Land | 7,500 | ||||
Buildings and Equipment | 55,259 | ||||
Costs Capitalized Subsequent to Acquisition | 299 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 7,500 | ||||
Buildings and Equipment | 55,558 | ||||
Total | 63,058 | ||||
Accumulated Depreciation | (9,575) | ||||
2500, 2526, & 2614 Big Town Boulevard | |||||
Initial Cost to Company | |||||
Land | 2,319 | ||||
Buildings and Equipment | 0 | ||||
Costs Capitalized Subsequent to Acquisition | 681 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 2,319 | ||||
Buildings and Equipment | 681 | ||||
Total | 3,000 | ||||
Accumulated Depreciation | 0 | ||||
1095 South 4800 West | |||||
Initial Cost to Company | |||||
Land | 1,500 | ||||
Buildings and Equipment | 6,913 | ||||
Costs Capitalized Subsequent to Acquisition | 20 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 1,500 | ||||
Buildings and Equipment | 6,933 | ||||
Total | 8,433 | ||||
Accumulated Depreciation | (1,200) | ||||
1901 Meadowville Technology Parkway | |||||
Initial Cost to Company | |||||
Land | 4,000 | ||||
Buildings and Equipment | 67,511 | ||||
Costs Capitalized Subsequent to Acquisition | 170 | ||||
Gross Amount Carried at Close of Period | |||||
Land | 4,000 | ||||
Buildings and Equipment | 67,681 | ||||
Total | 71,681 | ||||
Accumulated Depreciation | (11,679) | ||||
Mortgages | 186 properties encumbered by one mortgage loan | |||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||
Encumbrances | 646,124 | ||||
Initial Cost to Company | |||||
Buildings and Equipment | $ 505,986 | ||||
Gross Amount Carried at Close of Period | |||||
Number of debt instruments | loan | 1 | ||||
Number of properties used as collateral | property | 186 | ||||
Mortgages | 1 property encumbered by one mortgage loan | |||||
Gross Amount Carried at Close of Period | |||||
Number of properties used as collateral | property | 1 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Real Estate Properties | |||
Balance at the beginning of the period | $ 1,809,070 | $ 2,335,964 | $ 1,462,396 |
Additions | 129,724 | 109,020 | 873,568 |
Disposals | (189,961) | (635,914) | |
Balance at the end of the period | 1,748,833 | 1,809,070 | 2,335,964 |
Accumulated Depreciation | |||
Balance at the beginning of the period | (141,406) | (131,468) | (93,291) |
Additions | (32,389) | (43,821) | (38,177) |
Disposals | 6,305 | 33,883 | |
Balance at the end of the period | $ (167,490) | $ (141,406) | $ (131,468) |