NexPoint Residential Trust Inc
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
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Schedule III—Real Estate and Accumulated Depreciation
REAL ESTATE AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2023
| Initial Cost to Company · Costs Capitalized · Gross Amount Carried at December 31, 2023 · Accumulated | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Property Name | Location | Encumbrances (1) | Land | Buildings and Improvements (2) | Total | Subsequent to Acquisition | Land | Buildings and Improvements (3) | Total | Depreciation and Amortization | Date Acquired |
| Arbors on Forest Ridge | Bedford, Texas | $19,184 | $2,330 | $10,475 | $12,805 | $4,090 | $2,330 | $14,253 | $16,583 | $(6,364) | 1/31/2014 |
| Cutter's Point | Richardson, Texas | 21,524 | 3,330 | 12,515 | 15,845 | 9,219 | 3,330 | 21,382 | 24,712 | (9,557) | 1/31/2014 |
| The Summit at Sabal Park | Tampa, Florida | 30,826 | 5,770 | 13,280 | 19,050 | 4,533 | 5,770 | 17,409 | 23,179 | (7,040) | 8/20/2014 |
| Courtney Cove | Tampa, Florida | 36,146 | 5,880 | 13,070 | 18,950 | 6,309 | 5,880 | 18,948 | 24,828 | (7,602) | 8/20/2014 |
| Radbourne Lake | Charlotte, North Carolina | 20,000 | 2,440 | 21,810 | 24,250 | 6,093 | 2,440 | 27,251 | 29,691 | (9,853) | 9/30/2014 |
| Sabal Palm at Lake Buena Vista | Orlando, Florida | 42,100 | 7,580 | 41,920 | 49,500 | 9,508 | 7,558 | 50,063 | 57,621 | (17,009) | 11/5/2014 |
| Cornerstone | Orlando, Florida | 46,804 | 1,500 | 30,050 | 31,550 | 7,248 | 1,500 | 36,404 | 37,904 | (13,961) | 1/15/2015 |
| The Preserve at Terrell Mill | Marietta, Georgia | 71,098 | 10,170 | 47,830 | 58,000 | 22,634 | 10,170 | 68,650 | 78,820 | (27,171) | 2/6/2015 |
| Versailles | Dallas, Texas | 40,247 | 6,720 | 19,445 | 26,165 | 9,357 | 6,720 | 28,221 | 34,941 | (11,267) | 2/26/2015 |
| Seasons 704 Apartments | West Palm Beach, Florida | 33,132 | 7,480 | 13,520 | 21,000 | 6,516 | 7,480 | 19,635 | 27,115 | (7,470) | 4/15/2015 |
| Madera Point | Mesa, Arizona | 34,457 | 4,920 | 17,605 | 22,525 | 5,125 | 4,920 | 22,101 | 27,021 | (8,327) | 8/5/2015 |
| Venue at 8651 | Fort Worth, Texas | 18,690 | 2,350 | 16,900 | 19,250 | 8,393 | 2,350 | 24,782 | 27,132 | (9,227) | 10/30/2015 |
| Parc500 | West Palm Beach, Florida | 29,416 | 3,860 | 19,424 | 23,284 | 8,259 | 3,860 | 27,192 | 31,052 | (10,211) | 7/27/2016 |
| The Venue on Camelback | Phoenix, Arizona | 42,788 | 8,340 | 36,520 | 44,860 | 8,925 | 8,340 | 44,722 | 53,062 | (13,950) | 10/11/2016 |
| Old Farm | Houston, Texas | 52,886 | 11,078 | 73,986 | 85,064 | 6,570 | 11,078 | 77,202 | 88,280 | (17,393) | 12/29/2016 |
| Stone Creek at Old Farm | Houston, Texas | 15,274 | 3,493 | 19,937 | 23,430 | 1,789 | 3,493 | 21,154 | 24,647 | (4,625) | 12/29/2016 |
| Rockledge Apartments | Marietta, Georgia | 93,129 | 17,451 | 96,577 | 114,028 | 18,247 | 17,451 | 111,803 | 129,254 | (29,845) | 6/30/2017 |
| Atera Apartments | Dallas, Texas | 46,198 | 22,371 | 37,090 | 59,461 | 6,936 | 22,371 | 42,686 | 65,057 | (11,231) | 10/25/2017 |
| Versailles II | Dallas, Texas | 12,061 | 4,124 | 20,667 | 24,791 | 3,831 | 4,124 | 23,811 | 27,935 | (5,794) | 9/26/2018 |
| Brandywine I & II | Nashville, Tennessee | 43,835 | 6,237 | 73,870 | 80,107 | 11,328 | 6,237 | 83,436 | 89,673 | (20,087) | 9/26/2018 |
| Bella Vista | Phoenix, Arizona | 29,040 | 10,942 | 37,661 | 48,603 | 4,754 | 10,942 | 41,496 | 52,438 | (9,694) | 1/28/2019 |
| The Enclave | Tempe, Arizona | 25,322 | 11,046 | 30,933 | 41,979 | 4,247 | 11,046 | 34,411 | 45,457 | (8,242) | 1/28/2019 |
| The Heritage | Phoenix, Arizona | 24,625 | 6,835 | 35,244 | 42,079 | 4,452 | 6,835 | 38,946 | 45,781 | (8,946) | 1/28/2019 |
| Summers Landing | Fort Worth, Texas | 10,109 | 1,798 | 17,628 | 19,426 | 3,451 | 1,798 | 20,546 | 22,344 | (4,033) | 6/7/2019 |
| Residences at Glenview Reserve | Nashville, Tennessee | 25,574 | 3,367 | 41,652 | 45,019 | 7,547 | 3,367 | 48,217 | 51,584 | (10,085) | 7/17/2019 |
| Residences at West Place | Orlando, Florida | 33,817 | 3,345 | 52,657 | 56,002 | 6,352 | 3,345 | 57,831 | 61,176 | (10,582) | 7/17/2019 |
| Avant at Pembroke Pines | Pembroke Pines, Florida | 177,101 | 48,436 | 275,671 | 324,107 | 37,666 | 48,436 | 306,348 | 354,784 | (56,548) | 8/30/2019 |
| Arbors of Brentwood | Nashville, Tennessee | 34,237 | 6,346 | 56,409 | 62,755 | 4,650 | 6,346 | 59,845 | 66,191 | (10,597) | 9/10/2019 |
| Torreyana Apartments | Las Vegas, Nevada | 50,580 | 23,824 | 44,560 | 68,384 | 3,363 | 23,824 | 46,722 | 70,546 | (7,984) | 11/22/2019 |
| Bloom | Las Vegas, Nevada | 59,830 | 23,803 | 83,290 | 107,093 | 7,647 | 23,803 | 89,086 | 112,889 | (15,449) | 11/22/2019 |
| Bella Solara | Las Vegas, Nevada | 40,328 | 12,605 | 54,262 | 66,867 | 4,459 | 12,605 | 57,562 | 70,167 | (9,696) | 11/22/2019 |
| Fairways at San Marcos | Chandler, Arizona | 60,228 | 10,993 | 73,785 | 84,778 | 5,401 | 10,993 | 77,511 | 88,504 | (10,426) | 11/2/2020 |
| The Verandas at Lake Norman | Charlotte, North Carolina | 34,925 | 9,510 | 54,270 | 63,780 | 3,056 | 9,510 | 56,355 | 65,865 | (5,783) | 6/30/2021 |
| Creekside at Matthews | Charlotte, North Carolina | 29,648 | 11,515 | 46,741 | 58,256 | 3,541 | 11,515 | 49,281 | 60,796 | (5,446) | 6/30/2021 |
| Six Forks Station | Raleigh, North Carolina | 41,180 | 11,357 | 63,748 | 75,105 | 5,942 | 11,357 | 68,490 | 79,847 | (6,458) | 9/10/2021 |
| High House at Cary | Cary, North Carolina | 46,625 | 23,809 | 69,793 | 93,602 | 3,409 | 23,809 | 71,826 | 95,635 | (5,948) | 12/7/2021 |
| The Adair | Sandy Springs, Georgia | 35,115 | 8,344 | 57,156 | 65,500 | 2,888 | 8,344 | 60,044 | 68,388 | (4,247) | 4/1/2022 |
| Estates on Maryland | Phoenix, Arizona | 43,157 | 11,553 | 66,347 | 77,900 | 2,259 | 11,553 | 68,606 | 80,159 | (4,810) | 4/1/2022 |
| $1,551,236 | $376,852 | $1,798,298 | $2,175,150 | $279,994 | $376,830 | $2,034,228 | $2,411,058 | $(442,958) | |||
(1)
Encumbrances includes mortgage debt.
(2)
Includes gross intangible lease assets of approximately $46.7 million and buildings, improvements and furniture, fixtures and equipment of approximately$1.8 billion, which includes total acquisition costs of approximately $8.2 million incurred on the acquisitions and a fair market value adjustment, a premium of approximately $0.9 million, related to the assumption of debt.
(3)
Includes construction in progress of approximately $8.3 million and furniture, fixtures and equipment of approximately $192.0 million.
SCHEDULE III
REAL ESTATE AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2023
A summary of activity for real estate and accumulated depreciation for the years ended December 31, 2023, 2022 and 2021 is as follows (in thousands):
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Real Estate: | |||
| Balance, beginning of year | $2,413,845 | $2,248,796 | $1,976,243 |
| Additions: | |||
| Real estate acquired | — | 143,400 | 290,743 |
| Improvements | 72,262 | 58,715 | 43,202 |
| Deductions: | |||
| Real estate sold | (72,958) | (28,239) | (55,045) |
| Write-off of fully amortized assets and other | (2,091) | (8,827) | (6,347) |
| Balance, end of year | $2,411,058 | $2,413,845 | $2,248,796 |
| Accumulated Depreciation and Amortization: | |||
| Balance, beginning of year | $371,293 | $287,096 | $215,494 |
| Depreciation expense | 95,186 | 93,499 | 82,760 |
| Amortization expense | — | 4,149 | 4,118 |
| Accumulated depreciation on sales | (23,327) | (6,459) | (11,028) |
| Write-off of fully amortized assets and other | (194) | (6,992) | (4,248) |
| Balance, end of year | $442,958 | $371,293 | $287,096 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.