Annual report pursuant to Section 13 and 15(d)

Schedule III - Real Estate and Accumulated Depreciation

v3.20.4
Schedule III - Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2020
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, 2020
(In Thousands)
      Initial Cost Subsequent Capitalized Additions Total Cost  
Location and Description of Property Date Acquired Encumbrances Land and Land Improvements Buildings & Improvements Permanent Plantings Land Improvements Buildings & Improvements Permanent Plantings Land and Land Improvements Buildings & Improvements Permanent Plantings
Total(1)
Accumulated Depreciation(2)
Santa Cruz County, California:
Land & Improvements		 6/16/1997 $ 7,929  $ 4,350  $ —  $ —  $ —  $ 579  $ —  $ 4,350  $ 579  $ —  $ 4,929  $ (341)
Ventura County, California:
Land, Buildings & Improvements		 9/15/1998 30,899  9,895  5,256  —  —  293  —  9,895  5,549  —  15,444  (4,306)
Santa Cruz County, California:
Land & Improvements		 1/3/2011 6,914  8,328  —  —  443  527  —  8,771  527  —  9,298  (171)
Hillsborough County, Florida:
Land, Buildings & Improvements		 9/12/2012 2,575  2,199  1,657  —  14  1,328  —  2,213  2,985  —  5,198  (1,219)
Monterey County, California:
Land, Buildings & Improvements		 10/21/2013 4,956  7,187  164  —  180  3,118  —  7,367  3,282  —  10,649  (727)
Cochise County, Arizona:
Land, Buildings & Improvements		 12/27/2013 2,940  6,168  572  —  8  4,548  —  6,176  5,120  —  11,296  (1,118)
Santa Cruz County, California:
Land, Building & Improvements		 6/13/2014 3,012  5,576  207  —  —  12  —  5,576  219  —  5,795  (208)
Ventura County, California:
Land, Buildings & Improvements		 7/23/2014 2,241  6,219  505  —  —  85  —  6,219  590  —  6,809  (229)
Kern County, California:
Land & Improvements		 7/25/2014 2,925  5,841  67  —  —  993  —  5,841  1,060  —  6,901  (382)
Manatee County, Florida:
Land, Buildings & Improvements		 9/29/2014 9,001  8,466  5,426  —  —  667  —  8,466  6,093  —  14,559  (3,296)
Ventura County, California:
Land, Buildings & Improvements		 10/29/2014 15,741  23,673  350  —  —  2,166  —  23,673  2,516  —  26,189  (569)
Ventura County, California:
Land & Improvements		 11/4/2014 3,180  5,860  92  —  —  2  —  5,860  94  —  5,954  (58)
Monterey County, California:
Land, Buildings & Improvements		 1/5/2015 10,673  15,852  582  —  (156) 1,426  —  15,696  2,008  —  17,704  (765)
Manatee County, Florida:
Land, Buildings & Improvements		 3/10/2015 3,750  2,403  1,871  —  —  84  —  2,403  1,955  —  4,358  (1,024)
Hendry County, Florida:
Land, Buildings & Improvements		 6/25/2015 10,356  14,411  789  —  —  —  —  14,411  789  —  15,200  (626)
Rock County, Nebraska:
Land, Buildings & Improvements		 8/20/2015 3,516  4,862  613  —  —  —  —  4,862  613  —  5,475  (421)
Holt County, Nebraska:
Land, Buildings & Improvements		 8/20/2015 3,534  4,690  786  —  —  —  —  4,690  786  —  5,476  (346)
Kern County, California:
Land & Improvements		 9/3/2015 16,324  18,893  497  —  688  5,959  1,418  19,581  6,456  1,418  27,455  (1,986)
Cochise County, Arizona:
Land, Buildings & Improvements		 12/23/2015 3,210  4,234  1,502  —  5  3,298  —  4,239  4,799  —  9,038  (791)
Saguache County, Colorado:
Land, Buildings & Improvements		 3/3/2016 15,313  16,756  8,348  —  —  1,486  —  16,756  9,834  —  26,590  (4,540)
Fresno County, California:
Land, Improvements & Permanent plantings		 4/5/2016 8,117  3,623  1,228  11,455  —  196  —  3,623  1,424  11,455  16,501  (2,401)
Saint Lucie County, Florida:
Land, Buildings & Improvements		 7/1/2016 2,743  4,165  971  —  —  —  —  4,165  971  —  5,136  (437)
Baca County, Colorado:
Land & Buildings		 9/1/2016 3,498  6,167  214  —  —  —  —  6,167  214  —  6,381  (62)
Merced County, Colorado:
Land & Improvements		 9/14/2016 7,696  12,845  504  —  —  190  —  12,845  694  —  13,539  (106)
Stanislaus County, Colorado:
Land & Improvements		 9/14/2016 8,337  14,114  45  —  —  463  —  14,114  508  —  14,622  (82)
Fresno County, California:
Land, Improvements & Permanent plantings		 10/13/2016 3,501  2,937  139  3,452  —  —  —  2,937  139  3,452  6,528  (769)
Baca County, Colorado:
Land & Improvements		 12/28/2016 6,763  11,430  278  —  —  —  —  11,430  278  —  11,708  (222)
Martin County, Florida:
Land & Improvements		 1/12/2017 32,400  52,443  1,627  —  —  —  —  52,443  1,627  —  54,070  (260)
Yuma County, Arizona
Land & Improvements		 6/1/2017 13,694  12,390  12,191  —  151  18,207  —  12,541  30,398  —  42,939  (4,145)
Fresno County, California:
Land, Improvements & Permanent plantings		 7/17/2017 7,110  5,048  777  7,818  2  1,364  —  5,050  2,141  7,818  15,009  (1,548)
Santa Barbara County, California:
Land, Improvements & Permanent plantings		 8/9/2017 3,225  4,559  577  397  (50) 148  1,494  4,509  724  1,891  7,124  (403)
Okeechobee County, Florida:
Land & Improvements		 8/9/2017 5,230  9,111  953  —  985  1,094  —  10,096  2,047  —  12,143  (377)
Walla Walla County, Washington:
Land, Improvements & Permanent plantings		 9/8/2017 4,860  5,286  401  3,739  —  —  —  5,286  401  3,739  9,426  (1,724)
Fresno County, California:
Land, Improvements & Permanent plantings		 12/15/2017 3,207  2,016  324  3,626  (1) —  (3) 2,015  324  3,623  5,962  (1,092)
Kern County, California:
Land & Improvements		 1/31/2018 1,358  2,733  249  —  (4) 1,526  —  2,729  1,775  —  4,504  (128)
Collier & Hendry, Florida Land & Improvements 7/12/2018 21,504  36,223  344  —  1  —  —  36,224  344  —  36,568  (121)
Kings County, California:
Land, Improvements & Permanent plantings		 9/13/2018 4,025  3,264  284  3,349  5  —  5  3,269  284  3,354  6,907  (237)
Madera, California:
Land, Improvements & Permanent plantings		 11/1/2018 13,385  12,305  1,718  9,015  13  2  9  12,318  1,720  9,024  23,062  (725)
Hartley County, Texas:
Land & Improvements		 11/20/2018 5,117  7,320  1,054  —  3  96  —  7,323  1,150  —  8,473  (145)
Madera County, California:
Land & Improvements		 4/9/2019 17,130  8,074  2,696  17,916  —  525  —  8,074  3,221  17,916  29,212  (1,613)
Allegran and Van Buren County, Michigan:
Land & Improvements		 6/4/2019 2,996  1,634  800  2,694  —  —  —  1,634  800  2,694  5,128  (291)
Yolo County, California:
Land & Improvements		 6/13/2019 5,073  5,939  665  2,648  —  —  —  5,939  665  2,648  9,252  (215)
Monterey County, California:
Land & Improvements		 7/11/2019 5,860  8,629  254  —  1,192  1,698  —  9,821  1,952  —  11,773  (69)
Martin County, Florida:
Land & Improvements		 7/22/2019 36,733  51,691  6,595  —  4  1  —  51,695  6,596  —  58,291  (734)
Fresno County, California:
Land & Improvements		 8/16/2019 40,811  24,772  13,410  31,420  4  8  10  24,776  13,418  31,430  69,624  (2,295)
Ventura County, California:
Land & Improvements		 8/28/2019 13,059  20,602  397  —  172  1,163  —  20,774  1,560  —  22,334  (152)
Napa County, California:
Land & Improvements		 8/29/2019 18,262  27,509  1,646  2,923  3,235  —  —  30,744  1,646  2,923  35,313  (510)
Hayes County, Nebraska:
Land & Improvements		 10/7/2019 3,045  4,750  264  —  16  1  —  4,766  265  —  5,031  (55)
Hayes & Hitchcock County, Nebraska:
Land & Improvements		 10/7/2019 5,739  9,275  431  —  20  1  —  9,295  432  —  9,727  (100)
Phillips County, Colorado:
Land & Improvements		 1/15/2020 4,500  6,875  660  —  —  —  —  6,875  660  —  7,535  (63)
Kern County, California:
Land, Improvements & Permanent plantings		 6/24/2020 8,500  12,521  1,325  370  —  —  —  12,521  1,325  370  14,216  — 
Wicomico & Caroline County, Maryland, and Sussex County, Delaware:
Land & Improvements		 8/31/2020 4,481  6,703  626  —  —  36  —  6,703  662  —  7,365  (21)
Fresno County, California:
Land & Improvements		 9/3/2020 18,764  15,071  4,680  11,921  —  28  —  15,071  4,708  11,921  31,700  (278)
Fresno County, California:
Land, Improvements & Permanent plantings		 10/1/2020 18,817  7,128  9,206  15,242  33  —  —  7,161  9,206  15,242  31,609  (283)
Ventura County, California:
Land & Improvements		 12/15/2020 12,450  19,215  1,264  —  50  —  —  19,265  1,264  —  20,529  (5)
Tulare County, California:
Land, Improvements & Permanent plantings		 12/17/2020 22,319  26,952  6,420  28,152  77  —  —  27,029  6,420  28,152  61,601  (110)
San Joaquin County, California:
Land, Improvements, & Permanent plantings		 12/24/2020 20,615  8,219  7,228  16,281  41  —  —  8,260  7,228  16,281  31,769  (59)
Whatcom County, Washington:
Land, Improvements, & Permanent plantings		 12/24/2020 22,750  12,265  2,142  19,924  38  —  —  12,303  2,142  19,924  34,369  (89)
Tulare County, California:
Land, Improvements & Permanent plantings		 12/31/2020 —  1,082  1,154  1,977  31  —  —  1,113  1,154  1,977  4,244  — 
Miscellaneous Investments Various 26,257  35,112  8,687  4,194  58  2,657  974  35,169  11,345  5,168  51,683  (4,187)
$ 627,690  $ 706,070  $ 123,712  $ 198,513  $ 7,263  $ 55,975  $ 3,907  $ 713,332  $ 179,686  $ 202,420  $ 1,095,439  $ (49,236)
(1)The aggregate cost for land, buildings, improvements and long-lived horticulture plantings for federal income tax purposes is approximately $1.1 billion.
(2)The Company computes depreciation using the straight-line method over the shorter of the estimated useful life or 39 years for buildings and improvements, the shorter of the estimated useful life or 40 years for permanent plantings, 5 to 10 years for equipment and fixtures and the shorter of the useful life or the remaining lease term for tenant improvements.
The following table reconciles the change in the balance of real estate during the years ended December 31, 2020 and 2019, respectively (dollars in thousands): 
2020 2019
Balance, beginning of period $ 827,255  $ 563,004 
Additions:
Acquisitions during the period 257,055  252,817 
Improvements 11,129  11,434 
Deductions:
Dispositions during period —  — 
Balance, end of period $ 1,095,439  $ 827,255 
The following table reconciles the change in the balance of accumulated depreciation during the years ended December 31, 2020 and 2019, respectively (dollars in thousands):
2020 2019
Balance, beginning of period $ 35,174  $ 24,051 
Additions during period 16,655  11,230 
Dispositions during period (2,593) (107)
Balance, end of period $ 49,236  $ 35,174