1
PARTNERSHIP EXHIBIT 99.1
CENTEX DEVELOPMENT COMPANY, L.P.
REAL ESTATE AND ACCUMULATED DEPRECIATION
SCHEDULE III
MARCH 31, 2001
(DOLLARS IN THOUSANDS)
Column A Column B Column C Column D
- ------------------------------------- -------------- --------------------------------- ----------------
Cost Capitalized
Subsequent to
Initial Cost to Company Acquisition
--------------------------------- ----------------
Buildings & Land &
Description Encumbrances Land Improvements Improvements
- ------------------------------------- -------------- -------------- -------------- --------------
Charlotte, North Carolina
Westlake I - Industrial Building $ 1,707 $ 341 $ -- $ 1,790
Westlake II - Industrial Building 4,800 486 -- 5,198
Westlake III - Industrial Building 3,691 439 -- 3,732
Westlake IV - Industrial Building 12,169 1,413 -- 12,362
Westlake V - Industrial Building 4,993 625 -- 4,103
Camarillo, California
Camarillo I - Industrial Building 5,410 1,300 -- 4,993
Land held for development and sale 1,960 4,651 -- 1,997
Oxnard, California
Land held for development and sale -- 837 -- (11)
Pinellas Park, Florida
Gateway I - Industrial Building 6,970 760 -- 4,745
Land held for development and sale -- 555 -- 14
Plantation, Florida
Southpointe I - Office Building 16,818 1,787 -- 15,550
St. Petersburg, Florida
Land held for development and sale 2,000 2,025 -- --
Gardner, Massachusetts
Summit I - Industrial Building 2,001 205 -- 2,221
Ann Arbor, Michigan
Land held for development and sale 636 897 -- --
Henderson, Nevada
Land held for development and sale 5,500 6,002 -- --
Allen, Texas
Land held for development and sale -- 763 -- --
Dallas, Texas
Citymark I - Office Building 19,157 5,677 18,988 63
Land held for sale -- 428 -- 13
Lewisville, Texas
Land held for development and sale -- 4,413 -- 214
Land held for development and sale -- 3,083 -- 1
The Colony, Texas
Land held for development and sale -- 5,048 -- 24
-------------- -------------- -------------- --------------
$ 87,812 $ 41,735 $ 18,988 $ 57,009
=============== ============== ============== ==============
Column A Column E Column F Column G
- ------------------------------------- --------------------------------- -------------- --------------
Gross Amount at
Which Carried at
Close of Period
---------------------------------
Buildings & Accumulated Year
Description Land Improvements Depreciation Constructed
- ------------------------------------- -------------- -------------- -------------- --------------
Charlotte, North Carolina
Westlake I - Industrial Building $ 341 $ 1,790 $ 163 1999
Westlake II - Industrial Building 486 5,198 252 2000
Westlake III - Industrial Building 439 3,732 62 2001
Westlake IV - Industrial Building 1,413 12,362 -- 2001
Westlake V - Industrial Building 625 4,103 27 2001
Camarillo, California
Camarillo I - Industrial Building 1,300 4,993 411 2000
Land held for development and sale 6,648 -- --
Oxnard, California
Land held for development and sale 826 -- --
Pinellas Park, Florida
Gateway I - Industrial Building 760 4,745 267 2000
Land held for development and sale 569 -- --
Plantation, Florida
Southpointe I - Office Building 1,787 15,550 1,166 2000
St. Petersburg, Florida
Land held for development and sale 2,025 -- --
Gardner, Massachusetts
Summit I - Industrial Building 205 2,221 73 2000
Ann Arbor, Michigan
Land held for development and sale 897 -- --
Henderson, Nevada
Land held for development and sale 6,002 -- --
Allen, Texas
Land held for development and sale 763 -- --
Dallas, Texas
Citymark I - Office Building 5,677 19,051 708
Land held for sale 441 -- --
Lewisville, Texas
Land held for development and sale 4,627 -- --
Land held for development and sale 3,084 -- --
The Colony, Texas
Land held for development and sale 5,072 -- --
-------------- -------------- --------------
$ 43,987 $ 73,745 $ 3,129
============== ============== ==============
Column A Column H Column I
- ------------------------------------- -------------- ---------------
Life on Which
Depreciation in
Latest Income
Year Statements is
Description Acquired is Computed
- ------------------------------------- -------------- ---------------
Charlotte, North Carolina
Westlake I - Industrial Building (1)
Westlake II - Industrial Building (1)
Westlake III - Industrial Building (1)
Westlake IV - Industrial Building (1)
Westlake V - Industrial Building (1)
Camarillo, California
Camarillo I - Industrial Building (1)
Land held for development and sale 1998
Oxnard, California
Land held for development and sale 1998
Pinellas Park, Florida
Gateway I - Industrial Building (1)
Land held for development and sale 1998
Plantation, Florida
Southpointe I - Office Building (1)
St. Petersburg, Florida
Land held for development and sale 1999
Gardner, Massachusetts
Summit I - Industrial Building (1)
Ann Arbor, Michigan
Land held for development and sale 2000
Henderson, Nevada
Land held for development and sale 2001
Allen, Texas
Land held for development and sale 1991
Dallas, Texas
Citymark I - Office Building 2000 (1)
Land held for sale 2000
Lewisville, Texas
Land held for development and sale 1998
Land held for development and sale 1998
The Colony, Texas
Land held for development and sale 1988
(1) Depreciation of the real estate assets is calculated over the following
estimated useful lives using the straight-line method:
Building and improvements 39 years
Tenant improvements Terms of leases
2
CENTEX DEVELOPMENT COMPANY, L.P.
REAL ESTATE AND ACCUMULATED DEPRECIATION
NOTE TO SCHEDULE III
March 31, 2001
(dollars in thousands)
Balance at beginning of period $ 100,680
Additions during period:
Acquisitions through foreclosure --
Other acquisitions 10,705
Improvements etc 27,657
Other --
---------
$ 38,362
---------
Deductions during period:
Cost of real estate sold (16,127)(a)
Other (5,183)(b)
---------
(21,310)
---------
Balance at close of period $ 117,732
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(a) Amount includes sales to affiliates of approximately $10.1 million.
(b) Represents the transfer of land into Projects Under Development.