INDEPENDENCE REALTY TRUST INC
For the period ended Dec 31, 2024. Filed Feb 18, 2025.
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FY2024 · Filed Feb 18, 2025
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Schedule III: Real Estate and Accumulated Depreciation
Independence Realty Trust
Schedule III - Real Estate and Accumulated Depreciation
| Number of Properties · Initial Cost · Cost of Improvements · Gross Carrying Amount · Accumulated Depreciation | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Market · Land · Building · Land · Building · Land · Building · Encumbrances (a) · Year(s) of Acquisition | ||||||||||
| Atlanta, GA | 13 | $102,866 | $903,813 | $— | $101,001 | $102,866 | $1,004,814 | $(124,992) | (b) | 2015 - 2021 |
| Austin, TX | 1 | 3,857 | 48,719 | — | 7,726 | 3,857 | 56,445 | (6,152) | 2021 | |
| Birmingham, AL (c) | 1 | 6,729 | 129,856 | — | (13,891) | 6,729 | 115,965 | (12,582) | (b) | 2021 |
| Charleston, SC | 2 | 9,260 | 69,104 | — | 3,846 | 9,260 | 72,950 | (17,489) | 2015 | |
| Charlotte, NC | 4 | 26,294 | 234,257 | — | 2,050 | 26,294 | 236,307 | (19,508) | 2015 - 2024 | |
| Cincinnati, OH | 2 | 6,939 | 111,937 | — | 6,001 | 6,939 | 117,938 | (10,806) | 2021 | |
| Columbus, OH | 10 | 28,870 | 308,917 | — | 43,141 | 28,870 | 352,058 | (53,930) | 2014 - 2021 | |
| Dallas, TX | 14 | 68,829 | 749,578 | — | 61,781 | 68,829 | 811,359 | (93,128) | (b) | 2015 - 2021 |
| Denver, CO (d) | 7 | 35,836 | 437,901 | — | 21,651 | 35,836 | 459,552 | (38,339) | (b) | 2021 - 2023 |
| Greenville, SC | 1 | 7,330 | 111,833 | — | 7,111 | 7,330 | 118,944 | (11,283) | 2021 | |
| Houston, TX | 5 | 18,767 | 186,226 | — | 9,984 | 18,767 | 196,210 | (18,267) | 2021 | |
| Huntsville, AL | 4 | 24,000 | 212,753 | — | 4,842 | 24,000 | 217,595 | (20,027) | 2015 - 2023 | |
| Indianapolis, IN | 7 | 22,284 | 251,814 | — | 20,424 | 22,284 | 272,238 | (36,802) | (b) | 2012 - 2021 |
| Lexington, KY | 3 | 9,467 | 145,715 | — | 8,515 | 9,467 | 154,230 | (14,278) | 2021 | |
| Louisville, KY | 4 | 21,228 | 102,521 | — | 19,534 | 21,228 | 122,055 | (35,057) | 2014 | |
| Memphis, TN | 4 | 10,730 | 124,023 | — | 25,655 | 10,730 | 149,678 | (42,175) | 2014 - 2015 | |
| Myrtle Beach, SC - Wilmington, NC | 3 | 4,580 | 55,797 | — | 7,964 | 4,580 | 63,761 | (13,111) | (b) | 2017 |
| Nashville, TN | 5 | 33,939 | 318,936 | — | 22,150 | 33,939 | 341,086 | (32,435) | (b) | 2021 - 2022 |
| Oklahoma City, OK | 8 | 17,099 | 280,770 | — | 39,577 | 17,099 | 320,347 | (42,305) | (b) | 2014 - 2021 |
| Orlando, FL | 2 | 14,151 | 113,622 | — | 5,106 | 14,151 | 118,728 | (11,243) | 2015 - 2024 | |
| Raleigh - Durham, NC | 6 | 34,409 | 199,323 | — | 20,893 | 34,409 | 220,216 | (50,440) | 2014 - 2019 | |
| San Antonio, TX | 1 | 4,604 | 50,501 | — | 2,422 | 4,604 | 52,923 | (5,107) | 2021 | |
| Tampa-St. Petersburg, FL | 6 | 55,706 | 287,436 | 3,920 | 52,101 | 59,626 | 339,537 | (44,083) | 2017 - 2024 | |
| 113 | $567,774 | $5,435,352 | $3,920 | $479,584 | $571,694 | $5,914,936 | $(753,539) | |||
(a)Encumbrances exclude the principal balance of $585,635 and associated deferred financing costs related to the secured credit facilities.
(b)Represents properties with gross assets of $2,783,529 and mortgage note indebtedness of $780,794.
(c)Includes properties classified as held for sale as of December 31, 2024.
(d)Includes development placed in service of $111,398 at one development property.
Independence Realty Trust
Schedule III - Real Estate and Accumulated Depreciation
| Investments in Real Estate | December 31, 2024 (1) | December 31, 2023 (2) | December 31, 2022 (3) |
|---|---|---|---|
| Balance, beginning of period | $6,579,190 | $6,652,083 | $6,534,563 |
| Additions during period: | |||
| Acquisitions and consolidations | 235,333 | 49,939 | 201,611 |
| Improvements to land and building | 146,046 | 217,235 | 85,227 |
| Deductions during period: | |||
| Dispositions of real estate | (411,833) | (283,991) | (161,836) |
| Impairment of real estate assets held for sale | (20,995) | (32,956) | — |
| Asset write-offs | (41,111) | (23,120) | (7,482) |
| Balance, end of period: | $6,486,630 | $6,579,190 | $6,652,083 |
| Accumulated Depreciation | December 31, 2024 (1) | December 31, 2023 (1) | December 31, 2022 (3) |
|---|---|---|---|
| Balance, beginning of period | $606,404 | $426,097 | $254,123 |
| Depreciation expense | 218,445 | 216,838 | 197,539 |
| Dispositions of real estate | (30,199) | (13,411) | (18,083) |
| Asset write-off | (41,111) | (23,120) | (7,482) |
| Balance, end of period: | $753,539 | $606,404 | $426,097 |
(1)Includesone property classified as held for sale as of December 31, 2024.
(2)Includessix properties classified as held for sale as of December 31, 2023.
(3)Includesone property classified as held for sale as of December 31, 2022.
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