SEC Form 10-K Filing Report

Company: REALTY INCOME CORP
CIK: 726728
SIC Code: 6798
Filing Date: 2019-02-22 00:00:00
Market Capitalization: 20581389.20956421

---

ITEM 1. BUSINESS
Item 1: Business
THE COMPANY
Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing stockholders with dependable monthly dividends that increase over time. The company is structured as a real estate investment trust, or REIT, requiring it annually to distribute at least 90% of its taxable income (excluding net capital gains) in the form of dividends to its stockholders. The monthly dividends are supported by the cash flow generated from real estate owned under long-term, net lease agreements with regional and national commercial tenants.
Realty Income was founded in 1969, and listed on the New York Stock Exchange (NYSE: O) in 1994. Over the past 50 years, Realty Income has been acquiring and managing freestanding commercial properties that generate rental revenue under long-term net lease agreements. The company is a member of the S&P High Yield Dividend Aristocrats® index for having increased its dividend every year for more than 20 consecutive years.
At December 31, 2018, we owned a diversified portfolio:
•
Of 5,797 properties;
•
With an occupancy rate of 98.6%, or 5,717 properties leased and 80 properties available for lease;
•
Leased to 262 different commercial tenants doing business in 48 separate industries;
•
Located in 49 states and Puerto Rico;
•
With over 93.3 million square feet of leasable space; and
•
With an average leasable space per property of approximately 16,110 square feet; approximately 11,260 square feet per retail property and 229,000 square feet per industrial property.
Of the 5,797 properties in the portfolio, 5,769, or 99.5%, are single-tenant properties, and the remaining are multi-tenant properties. At December 31, 2018, of the 5,769 single-tenant properties, 5,692 were leased with a weighted average remaining lease term (excluding rights to extend a lease at the option of the tenant) of approximately 9.2 years.
Our seven senior officers owned 0.1% of our outstanding common stock with a market value of $12.2 million at January 31, 2019. Our directors and seven senior officers, as a group, owned 0.2% of our outstanding common stock with a market value of $34.9 million at January 31, 2019.
Our common stock is listed on the NYSE under the ticker symbol “O” with a CUSIP number of 756109-104. Our central index key number is 726728.
In January 2019, we had 165 employees, as compared to 152 employees in January 2018.
We maintain a corporate website at www.realtyincome.com. On our website we make available, free of charge, copies of our annual report on Form 10-K, quarterly reports on Form 10-Q, Form 3s, Form 4s, Form 5s, current reports on Form 8-K, and amendments to those reports, as soon as reasonably practicable after we electronically file these reports with the Securities and Exchange Commission, or SEC. None of the information on our website is deemed to be part of this report.
- 2-
RECENT DEVELOPMENTS
Increases in Monthly Dividends to Common Stockholders
We have continued our 50-year policy of paying monthly dividends. In addition, we increased the dividend five times during 2018 and twice during 2019. As of February 2019, we have paid 85 consecutive quarterly dividend increases and increased the dividend 100 times since our listing on the NYSE in 1994.
The dividends paid per share during 2018 totaled approximately $2.6305, as compared to approximately $2.5270 during 2017, an increase of $0.1035, or 4.1%.
The monthly dividend of $0.2255 per share represents a current annualized dividend of $2.706 per share, and an annualized dividend yield of approximately 4.3% based on the last reported sale price of our common stock on the NYSE of $63.04 on December 31, 2018. Although we expect to continue our policy of paying monthly dividends, we cannot guarantee that we will maintain our current level of dividends, that we will continue our pattern of increasing dividends per share, or what our actual dividend yield will be in any future period.
Acquisitions During 2018
During 2018, we invested $1.8 billion in 764 new properties and properties under development or expansion, with an initial weighted average contractual lease rate of 6.4%. The 764 new properties and properties under development or expansion are located in 39 states, will contain approximately 5.2 million leasable square feet, and are 100% leased with a weighted average lease term of 14.8 years. The tenants occupying the new properties operate in 21 industries and the property types are 96.3% retail and 3.7% industrial, based on rental revenue. During 2018, none of our real estate investments caused any one tenant to be 10% or more of our total assets at December 31, 2018.
The initial weighted average contractual lease rate for a property is generally computed as estimated contractual first year cash net operating income, which, in the case of a net leased property, is equal to the aggregate cash base rent for the first full year of each lease, divided by the total cost of the property. Since it is possible that a tenant could default on the payment of contractual rent, we cannot provide assurance that the actual return on the funds invested will remain at the percentages listed above.
In the case of a property under development or expansion, the contractual lease rate is generally fixed such that rent varies based on the actual total investment in order to provide a fixed rate of return. When the lease does not provide for a fixed rate of return on a property under development or expansion, the initial weighted average contractual lease rate is computed as follows: estimated cash net operating income (determined by the lease) for the first full year of each lease, divided by our projected total investment in the property, including land, construction and capitalized interest costs. Of the $1.8 billion we invested during 2018, $80.3 million was invested in 14 properties under development or expansion with an initial weighted average contractual lease rate of 6.9%. We may continue to pursue development or expansion opportunities under similar arrangements in the future.
- 3-
Portfolio Discussion
Leasing Results
At December 31, 2018, we had 80 properties available for lease out of 5,797 properties in our portfolio, which represents a 98.6% occupancy rate based on the number of properties in our portfolio. Since December 31, 2017, when we reported 83 properties available for lease out of 5,172 and a 98.4% occupancy rate, we:
•
Had 267 lease expirations;
•
Re-leased 228 properties; and
•
Sold 42 vacant properties.
Of the 228 properties re-leased during 2018, 215 properties were re-leased to existing tenants, three were re-leased to new tenants without vacancy, and ten were re-leased to new tenants after a period of vacancy. The annual rent on these 228 leases was $46.15 million, as compared to the previous rent on these same properties of $44.66 million, which represents a rent recapture rate of 103.3% on the properties re-leased during 2018.
As part of our re-leasing costs, we pay leasing commissions to unrelated, third party real estate brokers consistent with the commercial real estate industry standard, and sometimes provide tenant rent concessions. We do not consider the collective impact of the leasing commissions or tenant rent concessions to be material to our financial position or results of operations.
At December 31, 2018, our average annualized rental revenue was approximately $14.24 per square foot on the 5,717 leased properties in our portfolio. At December 31, 2018, we classified 17 properties, with a carrying amount of $16.6 million, as held for sale on our balance sheet. The expected sale of these properties does not represent a strategic shift that will have a major effect on our operations and financial results and is consistent with our existing disposition strategy to further enhance our real estate portfolio and maximize portfolio returns.
Investments in Existing Properties
In 2018, we capitalized costs of $17.9 million on existing properties in our portfolio, consisting of $3.9 million for re-leasing costs, $1.1 million for recurring capital expenditures, and $12.9 million for non-recurring building improvements. In 2017, we capitalized costs of $12.7 million on existing properties in our portfolio, consisting of $1.6 million for re-leasing costs, $912,000 for recurring capital expenditures, and $10.2 million for non-recurring building improvements.
The majority of our building improvements relate to roof repairs, HVAC improvements, and parking lot resurfacing and replacements. The amounts of our capital expenditures can vary significantly, depending on the rental market, tenant credit worthiness, the lease term and the willingness of tenants to pay higher rents over the terms of the leases.
We define recurring capital expenditures as mandatory and repetitive landlord capital expenditure obligations that have a limited useful life. We define non-recurring capital expenditures as property improvements where we invest additional capital that extend the useful life of the properties.
Sumit Roy Appointed Chief Executive Officer (CEO)
On October 16, 2018, we announced that our Board of Directors had appointed Sumit Roy to the position of our CEO and to our Board of Directors. Mr. Roy, who previously served as Chief Operating Officer, succeeds John P. Case, our previous CEO. Mr. Roy continues to serve as our President.
Tau Operating Partnership Buyout and Term Loan Payoff
In January 2019, we redeemed all of the outstanding 317,022 common units of Tau Operating Partnership, L.P., which reduced our total common units outstanding to 373,797 as of January 3, 2019. Additionally, in January 2019, we paid off the outstanding balance and interest on the $70.0 million senior unsecured term loan entered in January 2013 in conjunction with our acquisition of ARCT. Following the redemption, we hold 100% of the ownership interests of Tau Operating Partnership, L.P., and continue to consolidate the entity.
New, Expanded Credit Facility
In October 2018, we entered into a new $3.25 billion unsecured credit facility to replace our previous $2.25 billion unsecured credit facility, of which $2.0 billion was due to expire in June 2019. This new credit facility includes a $3.0 billion unsecured revolving credit facility and a new $250.0 million unsecured term loan due March 2024. The new revolving credit facility matures in March 2023 and includes two six-month extensions that can be exercised at our
- 4-
option. The new revolving credit facility, or our revolving credit facility, also has a $1.0 billion expansion feature. As of December 31, 2018, we had a balance of $252.0 million on our credit facility. Under our revolving credit facility, our current investment grade credit ratings provide for financing at LIBOR plus 0.775% with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.90% over LIBOR. Our previous $2.25 billion unsecured credit facility had all-in drawn pricing of 0.975% over LIBOR.
In conjunction with our new revolving credit facility, we entered into a new $250.0 million senior unsecured term loan, which matures in March 2024. Borrowing under this term loan bears interest at the current one-month LIBOR plus 0.85%. In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest on this term loan at 3.89%.
S&P Upgrade to A-
In August 2018, S&P Global Ratings raised our credit rating to A- with a "stable" outlook from BBB+ with a "positive" outlook.
Note Issuance
In April 2018, we issued $500.0 million of 3.875% senior unsecured notes due 2025, or the 2025 Notes. The public offering price for the 2025 Notes was 99.50% of the principal amount, for an effective yield to maturity of 3.957%. The net proceeds of approximately $493.1 million from this offering were used to repay borrowings outstanding under our credit facility, to fund investment opportunities, and for other general corporate purposes.
Capital Raising
During 2018, we raised $1.1 billion from the sale of common stock, primarily through the use of our at-the-market (ATM) programs, at a weighted average price of $58.77 per share.
Net Income Available to Common Stockholders
Net income available to common stockholders was $363.6 million in 2018, as compared to $301.5 million in 2017, an increase of $62.1 million. On a diluted per common share basis, net income was $1.26 in 2018, as compared to $1.10 in 2017, an increase of $0.16, or 14.5%.
Net income available to common stockholders in 2018 was impacted by a severance payment made to our former CEO in October 2018. The total value of cash, stock compensation and professional fees incurred as a result of this severance was $28.3 million; however, the net amount, after incorporating accruals for CEO compensation previous to this severance, was $18.7 million, equivalent to $0.06 per share.
Net income and funds from operations available to common stockholders per share in 2017 were impacted by a loss of $42.4 million, or $0.15 per share, on extinguishment of debt upon the early redemption on all $550.0 million of our outstanding 6.75% notes due August 2019 during December 2017. Net income and funds from operations available to common stockholders for 2017 were also impacted by a $13.4 million non-cash redemption charge on the shares of Class F preferred stock that were redeemed in April 2017, which represented $0.05 on a diluted per common share basis. This charge was based on the excess of redemption value over the carrying value of the Class F preferred stock that represents the original issuance cost that was paid in 2012.
The calculation to determine net income available to common stockholders includes impairments and gains from the sale of properties, which can vary from period to period based on the timing and significantly impact net income available to common stockholders.
Funds from Operations Available to Common Stockholders (FFO)
In 2018, our FFO increased by $130.6 million, or 16.9%, to $903.3 million, as compared to $772.7 million in 2017. On a diluted per common share basis, FFO was $3.12 in 2018, as compared to $2.82 in 2017, an increase of $0.30, or 10.6%.
Adjusted Funds from Operations Available to Common Stockholders (AFFO)
In 2018, our AFFO increased by $86.0 million, or 10.3%, to $924.6 million, as compared to $838.6 million in 2017. On a diluted per common share basis, AFFO was $3.19 in 2018, as compared to $3.06 in 2017, an increase of $0.13, or 4.2%.
See our discussion of FFO and AFFO (which are not financial measures under generally accepted accounting principles, or GAAP), later in the section entitled “Management’s Discussion and Analysis of Financial Condition
- 5-
and Results of Operations,” in this annual report, which includes a reconciliation of net income available to common stockholders to FFO and AFFO.
DIVIDEND POLICY
Distributions are paid monthly to holders of shares of our common stock.
Distributions are paid monthly to the limited partners holding common units of Realty Income, L.P., each on a per unit basis that is generally equal to the amount paid per share to our common stockholders. Prior to the redemption of our common units of Tau Operating Partnership, L.P. in January 2019, distributions were paid monthly to the limited partners holding common units of Tau Operating Partnership, L.P., each on a per unit basis that was generally equal to the amount paid per share to our common stockholders.
In order to maintain our status as a REIT for federal income tax purposes, we generally are required to distribute dividends to our stockholders aggregating annually at least 90% of our taxable income (excluding net capital gains), and we are subject to income tax to the extent we distribute less than 100% of our taxable income (including net capital gains). In 2018, our cash distributions to common stockholders totaled $761.6 million, or approximately 133.5% of our estimated taxable income of $570.4 million. Our estimated taxable income reflects non-cash deductions for depreciation and amortization. Our estimated taxable income is presented to show our compliance with REIT dividend requirements and is not a measure of our liquidity or operating performance. We intend to continue to make distributions to our stockholders that are sufficient to meet this dividend requirement and that will reduce or eliminate our exposure to income taxes. Furthermore, we believe our funds from operations are sufficient to support our current level of cash distributions to our stockholders. Our cash distributions to common stockholders in 2018 totaled $761.6 million, representing 82.4% of our adjusted funds from operations available to common stockholders of $924.6 million. In comparison, our 2017 cash distributions to common stockholders totaled $689.3 million, representing 82.2% of our adjusted funds from operations available to common stockholders of $838.6 million.
Future distributions will be at the discretion of our Board of Directors and will depend on, among other things, our results of operations, FFO, AFFO, cash flow from operations, financial condition, capital requirements, the annual distribution requirements under the REIT provisions of the Internal Revenue Code of 1986, as amended, or the Code, our debt service requirements, and any other factors the Board of Directors may deem relevant. In addition, our credit facility contains financial covenants that could limit the amount of distributions payable by us in the event of a default, and which prohibit the payment of distributions on the common or preferred stock in the event that we fail to pay when due (subject to any applicable grace period) any principal or interest on borrowings under our credit facility.
Distributions of our current and accumulated earnings and profits for federal income tax purposes generally will be taxable to stockholders as ordinary income, except to the extent that we recognize capital gains and declare a capital gains dividend, or that such amounts constitute “qualified dividend income” subject to a reduced rate of tax. The maximum tax rate of non-corporate taxpayers for “qualified dividend income” is generally 20%. In general, dividends payable by REITs are not eligible for the reduced tax rate on qualified dividend income, except to the extent that certain holding requirements have been met with respect to the REIT’s stock and the REIT’s dividends are attributable to dividends received from certain taxable corporations (such as our taxable REIT subsidiaries) or to income that was subject to tax at the corporate or REIT level (for example, if we distribute taxable income that we retained and paid tax on in the prior taxable year). However, non-corporate stockholders, including individuals, generally may deduct up to 20% of dividends from a REIT, other than capital gain dividends and dividends treated as qualified dividend income, for taxable years beginning after December 31, 2017 and before January 1, 2026.
Distributions in excess of earnings and profits generally will first be treated as a non-taxable reduction in the stockholders’ basis in their stock, but not below zero. Distributions in excess of that basis generally will be taxable as a capital gain to stockholders who hold their shares as a capital asset. Approximately 22.9% of the distributions to our common stockholders, made or deemed to have been made in 2018, were classified as a return of capital for federal income tax purposes. We estimate that in 2019, between 15% and 25% of the distributions may be classified as a return of capital.
- 6-
BUSINESS PHILOSOPHY AND STRATEGY
We believe that owning an actively managed, diversified portfolio of primarily single-tenant commercial properties under long-term, net lease agreements produces consistent and predictable income. A net lease typically requires the tenant to be responsible for monthly rent and certain property operating expenses including property taxes, insurance, and maintenance. In addition, tenants of our properties typically pay rent increases based on: (1) increases in the consumer price index (typically subject to ceilings), (2) fixed increases, or (3) additional rent calculated as a percentage of the tenants’ gross sales above a specified level. We believe that a portfolio of properties under long-term, net lease agreements generally produces a more predictable income stream than many other types of real estate portfolios, while continuing to offer the potential for growth in rental income.
Diversification is also a key component of our investment philosophy. We believe that diversification of the portfolio by tenant, industry, geography, and, to a certain extent, property type leads to more consistent and predictable income for our stockholders by reducing vulnerability that can come with any single concentration. Our investment activities have led to a diversified property portfolio that, as of December 31, 2018, consisted of 5,797 properties located in 49 states and Puerto Rico, leased to 262 different commercial tenants doing business in 48 industries. Each of the 48 industries represented in our property portfolio accounted for no more than 12.4% of our rental revenue during either the quarter or year ended December 31, 2018.
Investment Strategy
When identifying new properties for investment, we generally focus on acquiring high-quality real estate that tenants consider important to the successful operation of their business. We generally seek to acquire real estate that has the following characteristics:
•
Properties that are freestanding, commercially-zoned with a single tenant;
•
Properties that are in significant markets or strategic locations critical to generating revenue for our tenants (i.e. they need the property in which they operate in order to conduct their business);
•
Properties that we deem to be profitable for the tenants and/or can generally be characterized as important to the successful operations of the company’s business;
•
Properties that are located within attractive demographic areas relative to the business of our tenants, generally fungible, and have good visibility and easy access to major thoroughfares;
•
Properties with real estate valuations that approximate replacement costs;
•
Properties with rental or lease payments that approximate market rents; and
•
Properties that can be purchased with the simultaneous execution or assumption of long-term, net lease agreements, offering both current income and the potential for future rent increases.
We seek to invest in industries in which several well-organized tenants are capturing market share through the selection of prime real estate locations supported by superior service, quality control, economies of scale, consumer branding, and advertising. In addition, we frequently acquire large portfolios of single-tenant properties net leased to different tenants operating in a variety of industries. We have an internal team dedicated to sourcing such opportunities, often using our relationships with various tenants, owners/developers, brokers and advisers to uncover and secure transactions. We also undertake thorough research and analysis to identify what we consider to be appropriate property locations, tenants, and industries for investment. This research expertise is instrumental to uncovering net lease opportunities in markets where we believe we can add value.
In selecting potential investments, we look for tenants with the following attributes:
•
Tenants with reliable and sustainable cash flow;
•
Tenants with revenue and cash flow from multiple sources;
•
Tenants that are willing to sign a long-term lease (10 or more years); and
•
Tenants that are large owners and users of real estate.
From a retail perspective, our investment strategy is to target tenants that have a service, non-discretionary, and/or low-price-point component to their business. We believe these characteristics better position tenants to operate in a variety of economic conditions and to compete more effectively with internet retailers. As a result of the execution of this strategy, approximately 95% of our annualized retail rental revenue at December 31, 2018 is derived from tenants with a service, non-discretionary, and/or low price point component to their business. From a non-retail perspective, we target industrial properties leased to industry leaders that are primarily investment grade rated
- 7-
companies. We believe these characteristics enhance the stability of the rental revenue generated from these properties.
After applying this investment strategy, we pursue those transactions where we can achieve an attractive investment spread over our cost of capital and favorable risk-adjusted returns. We will continue to evaluate all investments consistent with our objective of owning net lease assets.
Underwriting Strategy
In order to be considered for acquisition, properties must meet stringent underwriting requirements. We have established a four-part analysis to examine each potential investment based on:
•
The aforementioned overall real estate characteristics, including demographics, replacement cost and comparative rental rates;
•
Industry, tenant (including credit profile), and market conditions;
•
Store profitability for retail locations if profitability data is available; and
•
The importance of the real estate location to the operations of the tenants’ business.
We believe the principal financial obligations for most of our tenants typically include their bank and other debt, payment obligations to suppliers, and real estate lease obligations. Because we typically own the land and building in which a tenant conducts its business or which are critical to the tenant’s ability to generate revenue, we believe the risk of default on a tenant’s lease obligation is less than the tenant’s unsecured general obligations. It has been our experience that tenants must retain their profitable and critical locations in order to survive. Therefore, in the event of reorganization, they are less likely to reject a lease of a profitable or critical location because this would terminate their right to use the property.
Thus, as the property owner, we believe that we will fare better than unsecured creditors of the same tenant in the event of reorganization. If a property is rejected by the tenant during reorganization, we own the property and can either lease it to a new tenant or sell the property. In addition, we believe that the risk of default on real estate leases can be further mitigated by monitoring the performance of the tenants’ individual locations and considering whether to proactively sell locations that meet our criteria for disposition.
Prior to entering into any transaction, our research department conducts a review of a tenant’s credit quality. The information reviewed may include reports and filings, including any public credit ratings, financial statements, debt and equity analyst reports, and reviews of corporate credit spreads, stock prices, market capitalization, and other financial metrics. We conduct additional due diligence, including additional financial reviews of the tenant and a more comprehensive review of the business segment and industry in which the tenant operates. We continue to monitor our tenants’ credit quality on an ongoing basis by reviewing the available information previously discussed, and providing summaries of these findings to management. Approximately 51% of our annualized rental revenue comes from properties leased to investment grade rated companies or their subsidiaries. At December 31, 2018, our top 20 tenants represented approximately 54% of our annualized revenue and 12 of these tenants have investment grade credit ratings or are subsidiaries of investment grade companies.
Portfolio and Asset Management Strategy
In addition to pursuing new properties for investment, we seek to increase earnings and distributions to stockholders through active portfolio and asset management.
Generally, our portfolio and asset management efforts seek to achieve:
•
Rent increases at the expiration of existing leases, when market conditions permit;
•
Optimum exposure to certain tenants, industries, and markets through re-leasing vacant properties and selectively selling properties;
•
Maximum asset-level returns on properties that are re-leased or sold;
•
Additional value creation from the existing portfolio by enhancing individual properties, pursuing alternative uses, and deriving ancillary revenue; and
•
Investment opportunities in new asset classes for the portfolio.
We continually monitor our portfolio for any changes that could affect the performance of our tenants, our tenants’ industries, and the real estate locations in which we have invested. We also regularly analyze our portfolio with a
- 8-
view towards optimizing its returns and enhancing its overall credit quality. Our active portfolio and asset management strategy pursues asset sales when we believe the reinvestment of the sale proceeds will:
•
Generate higher returns;
•
Enhance the credit quality of our real estate portfolio;
•
Extend our average remaining lease term; and/or
•
Strategically decrease tenant, industry, or geographic concentration.
At December 31, 2018, we classified 17 properties with a carrying amount of $16.6 million as held for sale on our balance sheet. For 2019, we intend to continue our active disposition efforts to further enhance our real estate portfolio and anticipate $75 to $100 million in property sales. We plan to invest these proceeds into new property acquisitions, if there are attractive opportunities available. However, we cannot guarantee that we will sell properties during 2019 at our estimated values or be able to invest the property sale proceeds in new properties.
The active management of the portfolio is an essential component of our long-term strategy of maintaining high occupancy. Since 1970, our occupancy rate at the end of each year has never been below 96%. However, we cannot assure you that our future occupancy levels will continue to equal or exceed 96%.
Capital Philosophy
Historically, we have met our long-term capital needs by issuing common stock, preferred stock and long-term unsecured notes and bonds. Over the long term, we believe that common stock should be the majority of our capital structure; however, we may issue additional preferred stock or debt securities. We may issue common stock when we believe that our share price is at a level that allows for the proceeds of any offering to be accretively invested into additional properties. In addition, we may issue common stock to permanently finance properties that were initially financed by our credit facility or debt securities. However, we cannot assure you that we will have access to the capital markets at all times and at terms that are acceptable to us.
Our primary cash obligations, for the current year and subsequent years, are included in the “Table of Obligations,” which is presented later in this section. We expect to fund our operating expenses and other short-term liquidity requirements, including property acquisitions and development costs, payment of principal and interest on our outstanding indebtedness, property improvements, re-leasing costs and cash distributions to common and preferred stockholders, primarily through cash provided by operating activities, property sales, borrowing on our credit facility and periodically through public securities offerings.
Conservative Capital Structure
We believe that our stockholders are best served by a conservative capital structure. Therefore, we seek to maintain a conservative debt level on our balance sheet and solid interest and fixed charge coverage ratios. At December 31, 2018, our total outstanding borrowings of senior unsecured notes and bonds, term loans, mortgages payable and credit facility borrowings were $6.5 billion, or approximately 25.4% of our total market capitalization of $25.7 billion.
We define our total market capitalization at December 31, 2018 as the sum of:
•
Shares of our common stock outstanding of 303,742,090, plus total common units outstanding of 690,819, multiplied by the last reported sales price of our common stock on the NYSE of $63.04 per share on December 31, 2018, or $19.2 billion;
•
Outstanding borrowings of $252.0 million on our credit facility;
•
Outstanding mortgages payable of $298.4 million, excluding net mortgage premiums of $4.4 million and deferred financing costs of $183,000;
•
Outstanding borrowings of $570.0 million on our term loans, excluding deferred financing costs of $1.4 million; and
•
Outstanding senior unsecured notes and bonds of $5.4 billion, excluding unamortized net original issuance premiums of $10.5 million and deferred financing costs of $33.7 million.
In January 2019, we redeemed all of our outstanding 317,022 common units of Tau Operating Partnership, L.P., which reduced our total common units outstanding to 373,797 as of January 3, 2019.
- 9-
Impact of Real Estate and Credit Markets
In the commercial real estate market, property prices generally continue to fluctuate. Likewise, during certain periods, the U.S. credit markets have experienced significant price volatility, dislocations, and liquidity disruptions, which may impact our access to and cost of capital. We continually monitor the commercial real estate and U.S. credit markets carefully and, if required, will make decisions to adjust our business strategy accordingly.
Universal Shelf Registration
In November 2018, we filed a shelf registration statement with the SEC, which is effective for a term of three years and will expire in November 2021. In accordance with SEC rules, the amount of securities to be issued pursuant to this shelf registration statement was not specified when it was filed and there is no specific dollar limit. The securities covered by this registration statement include (1) common stock, (2) preferred stock, (3) debt securities, (4) depositary shares representing fractional interests in shares of preferred stock, (5) warrants to purchase debt securities, common stock, preferred stock, or depositary shares, and (6) any combination of these securities. We may periodically offer one or more of these securities in amounts, prices and on terms to be announced when and if these securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of any offering.
Revolving Credit Facility
In October 2018, we entered into a new $3.25 billion unsecured credit facility to replace our previous $2.25 billion unsecured credit facility, of which $2.0 billion was due to expire in June 2019. This new credit facility includes a $3.0 billion unsecured revolving credit facility and a new $250.0 million unsecured term loan due March 2024. The new revolving credit facility, or our revolving credit facility, matures in March 2023 and includes two six-month extensions that can be exercised at our option. Our revolving credit facility also has a $1.0 billion expansion feature. Under our new revolving credit facility, our current investment grade credit ratings provide for financing at LIBOR plus 0.775% with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.90% over LIBOR.
The borrowing rate under our revolving credit facility is subject to an interest rate floor and may change if our investment grade credit ratings change. We also have other interest rate options available to us under our credit facility. Our revolving credit facility is unsecured and, accordingly, we have not pledged any assets as collateral for this obligation.
At December 31, 2018, we had a borrowing capacity of $2.75 billion available on our revolving credit facility and an outstanding balance of $252.0 million. The weighted average interest rate on borrowings outstanding under our revolving credit facility, at December 31, 2018, was 3.2% per annum. We must comply with various financial and other covenants in our credit facility. At December 31, 2018, we were in compliance with these covenants. We expect to use our credit facility to acquire additional properties and for other general corporate purposes. Any additional borrowings will increase our exposure to interest rate risk.
We generally use our credit facility for the short-term financing of new property acquisitions. Thereafter, we generally seek to refinance those borrowings with the net proceeds of long-term or permanent financing, which may include the issuance of common stock, preferred stock or debt securities. We cannot assure you, however, that we will be able to obtain any such refinancing, or that market conditions prevailing at the time of the refinancing will enable us to issue equity or debt securities at acceptable terms.
Cash Reserves
We are organized to operate as an equity REIT that acquires and leases properties and distributes to stockholders, in the form of monthly cash distributions, a substantial portion of our net cash flow generated from leases on our properties. We intend to retain an appropriate amount of cash as working capital. At December 31, 2018, we had cash and cash equivalents totaling $10.4 million.
We believe that our cash and cash equivalents on hand, cash provided from operating activities, and borrowing capacity is sufficient to meet our liquidity needs for the next twelve months. We intend, however, to use permanent or long-term capital to fund property acquisitions and to repay future borrowings under our credit facility.
Credit Agency Ratings
The borrowing interest rates under our credit facility are based upon our ratings assigned by credit rating agencies. As of December 31, 2018, we were assigned the following investment grade corporate credit ratings on our senior unsecured notes and bonds: Moody’s Investors Service has assigned a rating of A3 with a “stable” outlook,
- 10-
Standard & Poor’s Ratings Group has assigned a rating of A- with a “stable” outlook, and Fitch Ratings has assigned a rating of BBB+ with a “stable” outlook.
Based on our ratings as of December 31, 2018, the facility interest rate was LIBOR, plus 0.775% with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.90% over LIBOR. Our credit facility provides that the interest rate can range between: (i) LIBOR, plus 1.45% if our credit rating is lower than BBB-/Baa3 or unrated and (ii) LIBOR, plus 0.75% if our credit rating is A/A2 or higher. In addition, our credit facility provides for a facility commitment fee based on our credit ratings, which range from: (i) 0.30% for a rating lower than BBB-/Baa3 or unrated, and (ii) 0.10% for a credit rating of A/A2 or higher.
We also issue senior debt securities from time to time and our credit ratings can impact the interest rates charged in those transactions. If our credit ratings or ratings outlook change, our cost to obtain debt financing could increase or decrease. The credit ratings assigned to us could change based upon, among other things, our results of operations and financial condition. These ratings are subject to ongoing evaluation by credit rating agencies and we cannot assure you that our ratings will not be changed or withdrawn by a rating agency in the future if, in its judgment, circumstances warrant. Moreover, a rating is not a recommendation to buy, sell or hold our debt securities, preferred stock or common stock.
Term Loans
In October 2018, in conjunction with our revolving credit facility, we entered into a new $250.0 million senior unsecured term loan, which matures in March 2024. Borrowing under this term loan bears interest at the current one-month LIBOR plus 0.85%. In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest on this term loan at 3.89%.
In December 2017, in conjunction with the acquisition of a portfolio of properties, we entered into a $125.9 million promissory note, which was paid in full at maturity in January 2018. Borrowings under this note bore interest at 1.52%.
In June 2015, in conjunction with entering into our previous credit facility, we entered into a $250.0 million senior unsecured term loan maturing on June 30, 2020. Borrowing under this term loan bears interest at the current one-month LIBOR, plus 0.90%. In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.62%.
In January 2013, in conjunction with our acquisition of American Realty Capital Trust, Inc., or ARCT, we entered into a $70.0 million senior unsecured term loan with an initial maturity date of January 2018. Borrowing under this term loan bore interest at the current one-month LIBOR plus 1.10%. In conjunction with this term loan, we also entered into an interest rate swap, which, until its termination in January 2018, effectively fixed our per annum interest rate on this term loan at 2.05%. In 2018, we entered into two separate six-month extensions of this loan, during which periods the interest was born at the current one-month LIBOR, plus 0.90%. In January 2019, we paid off the outstanding principal and interest on this term loan.
Mortgage Debt
As of December 31, 2018, we had $298.4 million of mortgages payable, all of which were assumed in connection with our property acquisitions. Additionally, at December 31, 2018, we had net premiums totaling $4.4 million on these mortgages and deferred financing costs of $183,000. We expect to pay off the mortgages payable as soon as prepayment penalties have declined to a level that would make it economically feasible to do so. During 2018, we made $21.9 million of principal payments, including the repayment of two mortgages in full for $17.0 million.
Notes Outstanding
As of December 31, 2018, we had $5.4 billion of senior unsecured note and bond obligations, excluding unamortized net original issuance premiums of $10.5 million and deferred financing costs of $33.7 million. All of our outstanding notes and bonds have fixed interest rates. Interest on all of our senior note and bond obligations is paid semiannually.
No Unconsolidated Investments
We have no unconsolidated investments, nor do we engage in trading activities involving energy or commodity contracts.
- 11-
Corporate Responsibility
Realty Income is committed to conducting our business according to the highest ethical standards. We are dedicated to providing an engaging, diverse, and safe work environment for our employees, operating our business in an environmentally conscious manner, and upholding our corporate responsibilities as a public company for the benefit of our shareholders. As The Monthly Dividend Company®, our mission is to provide our stockholders with monthly dividends that increase over time. How we manage and use the physical, financial and talent resources that enable us to achieve this mission, demonstrates our commitment to corporate responsibility.
Environmental Practices
Our focus on the environment is demonstrated by how we manage our day-to-day activities at our corporate headquarters. At our headquarters, we promote energy efficiency and encourage practices such as:
•
Powering down office equipment at the end of the day;
•
Implementing file-sharing technology and automatic “duplex mode” to limit paper use;
•
Adopting electronic approval systems;
•
Encouraging employees to carpool to our headquarters; and
•
Recycling paper waste.
With respect to recycling and reuse practices, we encourage the use of recycled products and the recycling of materials used in our operations. Cell phones, wireless devices and office equipment are recycled or donated whenever possible. In 2018, we sent more than 28,500 pounds of paper to our offsite partner for recycling.
In addition, our headquarters was constructed according to the State of California energy efficiency standards (specifically following California Green Building Standards Code and Title 24 of the California Code of Regulations), with features such as an automatic lighting control system with light-harvesting technology, a building management system that monitors and controls energy use, an energy-efficient PVC roof and heating and cooling system, and drought-tolerant landscaping with recycled materials. We continue to evaluate our current operations, strive to improve our environmental performance, and implement sustainable business practices.
The properties in our portfolio are primarily net leased to our tenants who are responsible for maintaining the buildings and are in control of their energy usage and environmental sustainability practices. We work with our tenants to promote environmental responsibility at the properties we own, with some locations achieving LEED (Leadership in Energy and Environmental Design) certification.
Our Asset Management team has engaged with a renewable energy development company to identify assets that would maximize energy efficiency initiatives throughout our property portfolio. These initiatives include solar energy arrays, battery storage, and charging stations. In addition, we continue to explore regional opportunities with our tenants in order to qualify for city and county renewable energy or energy efficiency programs to conserve our world’s finite resources.
Realty Income also has an internal "Green Team" that encourages our employees to focus on environmentally-smart choices to further reduce our environmental impact as a company. The Green Team, which includes executive and officer-level employees, works to positively impact the environment through education and engagement within the company and local communities, focusing on waste, energy, and water management.
Company Culture and Employees
We put great effort into cultivating an inclusive company culture. We are one team, and together we are committed to a culture that provides an engaging work environment and encourages respect, collaboration, humility, transparency, and integrity. Regular open communication is central to how we work, and our employees take pride in our 50-year history of providing monthly dividends to our stockholders. We hire talented employees with diverse backgrounds and perspectives, and work to provide an environment where capable team members have fulfilling careers in the real estate industry.
Social Responsibility
We are committed to providing a positive and engaging work environment for our employees and taking an active role in the betterment of the communities in which our employees and shareholders live and work. Our employees are awarded compensation that is in line with those of our peers and competitors, including generous healthcare benefits (medical, dental, vision) for all employees and their families, participation in a 401(k) plan with a matching contribution from Realty Income, restricted stock awards based on company performance, competitive paid time-off
- 12-
benefits, a well-being program, continued education and development opportunities, up to 16 weeks of paid parental leave, and an infant-at-work program for new parents. We also have a long-standing commitment to being an equal opportunity employer and adhere to all Equal Employer Opportunity Policy guidelines.
We believe that giving back to our community is an extension of our mission to improve the lives of our shareholders, our employees, and their families. Realty Income and its employees have taken an active role in supporting communities through civic involvement with non-profit organizations and corporate donations. Our non-profit activities resulted in approximately 810 company-sponsored employee volunteer hours in 2018, principally through our partnership with San Diego Habitat for Humanity. We are proud of the efforts we have made to date and look forward to continuing to strengthen our impact as part of the successful operations of The Monthly Dividend Company®.
Additional information on Realty Income’s commitment to social responsibility may be found on our website.
Corporate Governance
We believe that nothing is more important than a company’s reputation for integrity and serving as a responsible fiduciary for its shareholders. We are committed to managing the company for the benefit of our stockholders and are focused on maintaining good corporate governance. Practices that illustrate this commitment include, but are not limited to:
•
Our Board of Directors is currently comprised of ten directors, nine of whom are independent, non-employee directors;
•
In accordance with our continued focus on board refreshment, in July 2018, we added two new independent, non-employee directors;
•
Our Board of Directors is elected on an annual basis with a majority vote standard;
•
Our directors conduct annual self-evaluations and participate in orientation and continuing education programs;
•
An Enterprise Risk Management evaluation is conducted annually to identify and assess company risk;
•
Each committee within our Board of Directors is comprised entirely of independent directors; and
•
We adhere to all other corporate governance principles outlined in our Corporate Governance Guidelines. These guidelines, as well as our bylaws, committee charters and other governance documents may be found on our website.
Business Ethics
We are committed to conducting our business according to the highest ethical standards and upholding our corporate responsibilities as a public company operating for the benefit of our shareholders. Our Board of Directors has adopted a Code of Business Ethics that applies to our directors, officers, and other employees. The Code of Business Ethics includes our commitment to dealing fairly with all of our customers, service providers, suppliers, and competitors. We conduct an annual training with our employees regarding ethical behavior and require all employees to acknowledge the terms of, and abide by, our Code of Business Ethics, which is also available on our website. Our employees have access to members of our Board of Directors to report anonymously, if desired, any suspicion of misconduct by any member of our senior management or executive team. Anonymous reporting is always available through the company’s whistleblower hotline and reported to our Audit Committee quarterly.
- 13-
PROPERTY PORTFOLIO INFORMATION
At December 31, 2018, we owned a diversified portfolio:
•
Of 5,797 properties;
•
With an occupancy rate of 98.6%, or 5,717 properties leased and 80 properties available for lease;
•
Leased to 262 different commercial tenants doing business in 48 separate industries;
•
Located in 49 states and Puerto Rico;
•
With over 93.3 million square feet of leasable space; and
•
With an average leasable space per property of approximately 16,110 square feet; approximately 11,260 square feet per retail property and 229,000 square feet per industrial property.
At December 31, 2018, of our 5,797 properties, 5,717 were leased under net lease agreements. A net lease typically requires the tenant to be responsible for monthly rent and certain property operating expenses including property taxes, insurance, and maintenance. In addition, our tenants are typically subject to future rent increases based on increases in the consumer price index (typically subject to ceilings), additional rent calculated as a percentage of the tenants’ gross sales above a specified level, or fixed increases.
At December 31, 2018, our 262 commercial tenants, which we define as retailers with over 50 locations and non-retailers with over $500 million in annual revenues, represented approximately 95% of our annualized revenue. We had 326 additional tenants, representing approximately 5% of our annualized revenue at December 31, 2018, which brings our total tenant count to 588 tenants.
- 14-
Industry Diversification
The following table sets forth certain information regarding our property portfolio classified according to the business of the respective tenants, expressed as a percentage of our total rental revenue:
* Less than 0.1%
- 15-
Property Type Composition
The following table sets forth certain property type information regarding our property portfolio as of December 31, 2018 (dollars in thousands):
(1) Includes rental revenue for all properties owned at December 31, 2018. Excludes revenue of $934 from sold properties.
Tenant Diversification
The following table sets forth the largest tenants in our property portfolio, expressed as a percentage of total rental revenue at December 31, 2018:
- 16-
Service Category Diversification for our Retail Properties
The following table sets forth certain information regarding the properties owned at December 31, 2018, classified according to the business types and the level of services they provide (dollars in thousands):
* Less than 0.1%
(1) Includes rental revenue for all retail properties owned at December 31, 2018. Excludes revenue of $60,213 from non-retail properties and$934 from sold properties.
- 17-
Lease Expirations
The following table sets forth certain information regarding the timing of the lease term expirations in our portfolio (excluding rights to extend a lease at the option of the tenant) and their contribution to rental revenue for the quarter ended December 31, 2018 (dollars in thousands):
*
Less than 0.1%
(1)
The lease expirations for leases under construction are based on the estimated date of completion of those projects. Excludes revenue of $68 from 99 expired leases, and $934 from sold properties at December 31, 2018. Leases on our multi-tenant properties are counted separately in the table above.
- 18-
Geographic Diversification
The following table sets forth certain state-by-state information regarding our property portfolio as of December 31, 2018 (dollars in thousands):
* Less than 0.1%
(1) Includes rental revenue for all properties owned at December 31, 2018. Excludes revenue of $934 from sold properties.
- 19-
FORWARD-LOOKING STATEMENTS
This Annual Report on Form 10-K, including the documents incorporated by reference, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. When used in this annual report, the words “estimated”, “anticipated”, “expect”, “believe”, “intend” and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of strategy, plans, or intentions of management. Forward-looking statements are subject to risks, uncertainties, and assumptions about Realty Income Corporation, including, among other things:
•
Our anticipated growth strategies;
•
Our intention to acquire additional properties and the timing of these acquisitions;
•
Our intention to sell properties and the timing of these property sales;
•
Our intention to re-lease vacant properties;
•
Anticipated trends in our business, including trends in the market for long-term, net leases of freestanding, single-tenant properties; and
•
Future expenditures for development projects.
Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. In particular, some of the factors that could cause actual results to differ materially are:
•
Our continued qualification as a real estate investment trust;
•
General business and economic conditions;
•
Competition;
•
Fluctuating interest rates;
•
Access to debt and equity capital markets;
•
Continued volatility and uncertainty in the credit markets and broader financial markets;
•
Other risks inherent in the real estate business including tenant defaults, potential liability relating to environmental matters, illiquidity of real estate investments, and potential damages from natural disasters;
•
Impairments in the value of our real estate assets;
•
Changes in the tax laws of the United States of America;
•
The outcome of any legal proceedings to which we are a party or which may occur in the future; and
•
Acts of terrorism and war.
Additional factors that may cause risks and uncertainties include those discussed in the sections entitled “Business”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that this annual report was filed with the Securities and Exchange Commission, or SEC. While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this annual report or to reflect the occurrence of unanticipated events. In light of these risks and uncertainties, the forward-looking events discussed in this annual report might not occur.

---

ITEM 1A. RISK FACTORS
Item 1A: Risk Factors
This “Risk Factors” section contains references to our “capital stock” and to our “stockholders.” Unless expressly stated otherwise, the references to our “capital stock” represent our common stock and any class or series of our preferred stock, while the references to our “stockholders” represent holders of our common stock and any class or series of our preferred stock.
In order to grow we need to continue to acquire investment properties. The acquisition of investment properties may be subject to competitive pressures.
We face competition in the acquisition and operation of our properties. We expect competition from:
•
Businesses;
•
Individuals;
•
Fiduciary accounts and plans; and
- 20-
•
Other entities engaged in real estate investment and financing.
Some of these competitors are larger than we are and have greater financial resources. This competition may result in a higher cost for properties we wish to purchase.
Negative market conditions or adverse events affecting our existing or potential tenants, or the industries in which they operate, could have an adverse impact on our ability to attract new tenants, re-lease space, collect rent or renew leases, which could adversely affect our cash flow from operations and inhibit growth.
Cash flow from operations depends in part on our ability to lease space to tenants on economically favorable terms. We could be adversely affected by various facts and events over which we have limited or no control, such as:
•
Lack of demand in areas where our properties are located;
•
Inability to retain existing tenants and attract new tenants;
•
Oversupply of space and changes in market rental rates;
•
Declines in our tenants’ creditworthiness and ability to pay rent, which may be affected by their operations, economic downturns and competition within their industries from other operators;
•
Defaults by and bankruptcies of tenants, failure of tenants to pay rent on a timely basis, or failure of tenants to comply with their contractual obligations;
•
Economic or physical decline of the areas where the properties are located; and
•
Deterioration of physical condition of our properties.
At any time, any tenant may experience a downturn in its business that may weaken its operating results or overall financial condition. As a result, a tenant may delay lease commencement, fail to make rental payments when due, decline to extend a lease upon its expiration, become insolvent, or declare bankruptcy. Any tenant bankruptcy or insolvency, leasing delay or failure to make rental payments when due could result in the termination of the tenant’s lease and material losses to us.
If tenants do not renew their leases as they expire, we may not be able to rent or sell the properties. Furthermore, leases that are renewed, and some new leases for properties that are re-leased, may have terms that are less economically favorable than expiring lease terms, or may require us to incur significant costs, such as renovations, tenant improvements, or lease transaction costs. Negative market conditions may cause us to sell vacant properties for less than their carrying value, which could result in impairments. Any of these events could adversely affect cash flow from operations and our ability to make distributions to stockholders and service indebtedness. A significant portion of the costs of owning property, such as real estate taxes, insurance, and maintenance, are not necessarily reduced when circumstances cause a decrease in rental revenue from the properties. In a weakened financial condition, tenants may not be able to pay these costs of ownership and we may be unable to recover these operating expenses from them.
Further, the occurrence of a tenant bankruptcy or insolvency could diminish the income we receive from the tenant’s lease or leases. In addition, a bankruptcy court might authorize the tenant to terminate its leases with us. If that happens, our claim against the bankrupt tenant for unpaid future rent would be subject to statutory limitations that most likely would result in rent payments that would be substantially less than the remaining rent we are owed under the leases or we may elect not to pursue claims against a tenant for terminated leases. In addition, any claim we have for unpaid past rent, if any, may not be paid in full, or at all. Moreover, in the case of a tenant’s leases that are not terminated as the result of its bankruptcy, we may be required or elect to reduce the rent payable under those leases or provide other concessions, reducing amounts we receive under those leases. As a result, tenant bankruptcies may have a material adverse effect on our results of operations. Any of these events could adversely affect our cash flow from operations and our ability to make distributions to stockholders and service our indebtedness.
As of December 31, 2018, 80 of our properties were available for lease or sale, of which 77 were single-tenant properties. At December 31, 2018, 69 of our properties under lease were unoccupied and available for sublease by the tenants, all of which were current with their rent and other obligations. During 2018, each of our tenants accounted for less than 10% of our rental revenue.
For 2018, our tenants in the “convenience store” industry accounted for approximately 11.2% of our rental revenue, while our tenants in the "drug store" industry accounted for approximately 10.2% of our rental revenue for the same period. A downturn in these industries could have a material adverse effect on our financial position, results of
- 21-
operations, our ability to pay the principal of and interest on our debt securities and other indebtedness and to make distributions on our common stock, including the common stock offered hereby, and preferred stock.
Individually, each of the other industries in our property portfolio accounted for less than 10% of our rental revenue for 2018. Nevertheless, downturns in these industries could also adversely affect our tenants, which in turn could also have a material adverse effect on our financial position, results of operations and our ability to pay the principal of and interest on our debt securities and other indebtedness and to make distributions on our common stock, and preferred stock.
In addition, some of our properties are leased to tenants that may have limited financial and other resources, and therefore, they are more likely to be adversely affected by a downturn in their respective businesses or in the regional, national, or international economy.
As a property owner, we may be subject to unknown environmental liabilities.
Investments in real property can create a potential for environmental liability. An owner of property can face liability for environmental contamination created by the presence or discharge of hazardous substances on the property. We can face such liability regardless of:
•
Our knowledge of the contamination;
•
The timing of the contamination;
•
The cause of the contamination; or
•
The party responsible for the contamination of the property.
There may be environmental conditions associated with our properties of which we are unaware. In that regard, a number of our properties are leased to operators of convenience stores that sell petroleum-based fuels, as well as to operators of oil change and tune-up facilities and operators that use chemicals and other waste products. These facilities, and some other of our properties, use, or may have used in the past, underground lifts or underground tanks for the storage of petroleum-based or waste products, which could create a potential for the release of hazardous substances.
The presence of hazardous substances on a property may adversely affect our ability to lease or sell that property and we may incur substantial remediation costs or third party liability claims. Although our leases generally require our tenants to operate in compliance with all applicable federal, state, and local environmental laws, ordinances and regulations, and to indemnify us against any environmental liabilities arising from the tenants’ activities on the property, we could nevertheless be subject to liability, including strict liability, by virtue of our ownership interest. There also can be no assurance that our tenants could or would satisfy their indemnification obligations under their leases. The discovery of environmental liabilities attached to our properties could have an adverse effect on our results of operations, our financial condition, or our ability to make distributions to stockholders and to pay the principal of and interest on our debt securities and other indebtedness.
In addition, several of our properties were built during the period when asbestos was commonly used in building construction and we may acquire other buildings with asbestos in the future. Environmental laws govern the presence, maintenance, and removal of asbestos-containing materials, or ACMs, and require that owners or operators of buildings containing asbestos properly manage and maintain the asbestos, that they adequately inform or train those who may come into contact with asbestos and that they undertake special precautions, including removal or other abatement in the event that asbestos is disturbed during renovation or demolition of a building. These laws may impose fines and penalties on building owners or operators for failure to comply with these requirements and may allow third parties to seek recovery from owners or operators for personal injury associated with exposure to asbestos fibers.
It is possible that our insurance could be insufficient to address any particular environmental situation and/or that, in the future, we could be unable to obtain insurance for environmental matters at a reasonable cost, or at all. Our tenants are generally responsible for, and indemnify us against, liabilities for environmental matters that arise during the lease terms as a result of tenants’ activities on the properties. For properties that have underground storage tanks, in addition to providing an indemnity in our favor, the tenants generally are required to meet applicable state financial assurance obligations, including maintaining certain minimum net worth requirements, obtaining environmental insurance, or relying upon the state trust funds where available in the states where these properties are located to reimburse responsible parties for costs of environmental remediation. However, it is possible that one or more of our tenants could fail to have sufficient funds to cover any such indemnification or to meet applicable
- 22-
state financial assurance obligations, and thus we may still be obligated to pay for any such environmental liabilities.
Compliance. We have not been notified by any governmental authority, and are not otherwise aware, of any material noncompliance, liability, or claim relating to hazardous substances, toxic substances, or petroleum products in connection with any of our properties. In addition, we believe we are in compliance in all material respects with all present federal, state, and local laws relating to ACMs. Nevertheless, if environmental contamination should exist, we could be subject to liability, including strict liability, by virtue of our ownership interest.
Insurance and Indemnity. In March 2018, we entered into a ten-year environmental insurance policy that expires in March 2028 and replaced our previous ten-year environmental insurance policy. The limits on our current policy are $10 million per occurrence and $60 million in the aggregate. The limits on the excess policy are $5 million per occurrence and $10 million in the aggregate. Therefore, the primary and excess ten-year policies together provide a total limit of $15 million per occurrence and $70 million in the aggregate.
It is possible that our insurance could be insufficient to address any particular environmental situation and that, in the future, we could be unable to obtain insurance for environmental matters at a reasonable cost, or at all. Our tenants are generally responsible for, and indemnify us against, liabilities for environmental matters that occur on our properties. For properties that have underground storage tanks, in addition to providing an indemnity in our favor, the tenants generally obtain environmental insurance or rely upon the state funds in the states where these properties are located to reimburse tenants for environmental remediation.
If we fail to qualify as a REIT, the amount of dividends we are able to pay would decrease, which could adversely affect the market price of our capital stock and could adversely affect the value of our debt securities.
Commencing with our taxable year ended December 31, 1994, we believe that we have been organized and have operated, and we intend to continue to operate, so as to qualify as a REIT under Sections 856 through 860 of the Code. However, we cannot assure you that we have been organized or have operated in a manner that has satisfied the requirements for qualification as a REIT, or that we will continue to be organized or operate in a manner that will allow us to continue to qualify as a REIT.
Qualification as a REIT involves the satisfaction of numerous requirements under highly technical and complex Code provisions, for which there are only limited judicial and administrative interpretations, as well as the determination of various factual matters and circumstances not entirely within our control.
For example, in order to qualify as a REIT, at least 95% of our gross income in each year must be derived from qualifying sources, and we must pay distributions to stockholders aggregating annually at least 90% of our taxable income (excluding net capital gains).
If we fail to satisfy all of the requirements for qualification as a REIT, we may be subject to certain penalty taxes or, in some circumstances, we may fail to qualify as a REIT. If we were to fail to qualify as a REIT in any taxable year:
•
We would be required to pay regular U.S. federal corporate income tax on our taxable income;
•
We would not be allowed a deduction for amounts distributed to our stockholders in computing our taxable income;
•
We could be disqualified from treatment as a REIT for the four taxable years following the year during which qualification is lost;
•
We would no longer be required to make distributions to stockholders; and
•
This treatment would substantially reduce amounts available for investment or distribution to stockholders because of the additional tax liability for the years involved, which could have a material adverse effect on the market price of our capital stock and the value of our debt securities.
Even if we qualify for and maintain our REIT status, we may be subject to certain federal, state, and local taxes on our income and property. For example, if we have net income from a prohibited transaction, that income will be subject to a 100% tax. In addition, our taxable REIT subsidiaries, including Crest, are subject to federal and state taxes at the applicable tax rates on their income and property. Any failure to comply with legal and regulatory tax obligations could adversely affect our ability to conduct business and could adversely affect the market price of our capital stock and the value of our debt securities.
- 23-
Legislative or other actions affecting REITs could have a negative effect on us or our investors.
The rules dealing with federal income taxation are constantly under review by persons involved in the legislative process and by the Internal Revenue Services, or the IRS, and the U.S. Department of the Treasury, or the Treasury. Changes to the tax laws, with or without retroactive application, could adversely affect us or our investors, including holders of our common stock or debt securities. We cannot predict how changes in the tax laws might affect us or our investors. New legislation, Treasury regulations, administrative interpretations or court decisions could significantly and negatively affect our ability to qualify as a REIT, the federal income tax consequences of such qualification, or the federal income tax consequences of an investment in us. Also, the law relating to the tax treatment of other entities, or an investment in other entities, could change, making an investment in such other entities more attractive relative to an investment in a REIT.
The 2017 Tax Cuts and Jobs Act, or TCJA, has significantly changed the U.S. federal income taxation of U.S. businesses and their owners, including REITs and their stockholders. We are continuing to assess the potential impact of TCJA on us as related regulations are proposed and finalized. The changes made by TCJA that could affect us and our investors include:
•
Temporarily reducing individual U.S. federal income tax rates on ordinary income, including the reduction of the highest individual U.S. federal income tax rate from 39.6% to 37% for taxable years beginning after December 31, 2017 and before January 1, 2026;
•
Permanently eliminating the progressive corporate tax rate structure, which previously imposed a maximum corporate tax rate of 35%, and replacing it with a flat corporate tax rate of 21%;
•
Permitting a deduction for certain domestic qualified business income from pass-through income entities, including dividends received by our stockholders from us that are not designated by us as capital gain dividends or qualified dividend income, which will allow individuals, trusts, and estates to deduct up to 20% of such amounts for taxable years beginning after December 31, 2017 and before January 1, 2026;
•
Reducing the highest rate of withholding with respect to our distributions to non-U.S. stockholders that are treated as attributable to gains from the sale or exchange of U.S. real property interests from 35% to 21%;
•
Limiting our deduction for net operating losses arising in taxable years beginning after December 31, 2017 to 80% of REIT taxable income (prior to the application of the dividends paid deduction);
•
Generally limiting the deduction for net business interest expense in excess of 30% of a business’s “adjusted taxable income,” except for taxpayers (including most equity REITs) that engage in certain real estate businesses and elect out of this rule (provided that such electing taxpayers must use an alternative depreciation system with longer depreciation periods); and
•
Eliminating the corporate alternative minimum tax.
Many of these changes were effective on January 1, 2018, without any transition periods or grandfathering for existing transactions. The legislation is still unclear in some respects and could be subject to potential amendments and technical corrections, as well as interpretations and implementing regulations by the Treasury and IRS, any of which could lessen or increase the impact of the legislation. In addition, state and local tax jurisdictions, which often use federal taxable income as a starting point for computing state and local tax liabilities, are continuing to evaluate the legislation to determine their respective levels of conformity to the new law. While some of the changes made by the tax legislation may adversely affect us in one or more reporting periods and prospectively, other changes may be beneficial on a going forward basis. We continue to work with our tax advisors and auditors to determine the full impact that the recent tax legislation as a whole will have on us.
Distribution requirements imposed by law limit our flexibility.
To maintain our status as a REIT for federal income tax purposes, we generally are required to distribute to our stockholders at least 90% of our taxable income, excluding net capital gains, each year. We also are subject to tax at regular corporate rates to the extent that we distribute less than 100% of our taxable income (including net capital gains) each year.
In addition, we are subject to a 4% nondeductible excise tax to the extent that we fail to distribute during any calendar year at least the sum of 85% of our ordinary income for that calendar year, 95% of our capital gain net income for the calendar year, and any amount of that income that was not distributed in prior years.
We intend to continue to make distributions to our stockholders to comply with the distribution requirements of the Code as well as to reduce our exposure to federal income taxes and the nondeductible excise tax. Differences in timing between the receipt of income and the payment of expenses to arrive at taxable income, along with the effect
- 24-
of required debt amortization payments, could require us to borrow funds to meet the distribution requirements that are necessary to achieve the tax benefits associated with qualifying as a REIT.
Future issuances of equity securities could dilute the interest of holders of our common stock.
Our future growth will depend, in large part, upon our ability to raise additional capital. If we were to raise additional capital through the issuance of equity securities, we could dilute the interests of holders of our common stock. The interests of our common stockholders could also be diluted by the issuance of shares of common stock pursuant to stock incentive plans. Likewise, our Board of Directors is authorized to cause us to issue preferred stock of any class or series (with dividend, voting and other rights as determined by our Board of Directors). Accordingly, our Board of Directors may authorize the issuance of preferred stock with voting, dividend and other similar rights that could dilute, or otherwise adversely affect, the interest of holders of our common stock.
We may acquire properties or portfolios of properties through tax deferred contribution transactions, which could result in stockholder dilution and limit our ability to sell or refinance such assets.
We have in the past and may in the future acquire properties or portfolios of properties through tax deferred contribution transactions in exchange for partnership units in an operating partnership, which could result in stockholder dilution through the issuance of operating partnership units that, under certain circumstances, may be exchanged for shares of our common stock. This acquisition structure may have the effect of, among other things, reducing the amount of tax depreciation we could deduct over the tax life of the acquired properties, and may require that we agree to restrictions on our ability to dispose of, or refinance the debt on, the acquired properties in order to protect the contributors’ ability to defer recognition of taxable gain. Similarly, we may be required to incur or maintain debt we would otherwise not incur so we can allocate the debt to the contributors to maintain their tax bases. These restrictions could limit our ability to sell or refinance an asset at a time, or on terms, that would be favorable absent such restrictions.
We are subject to risks associated with debt and capital stock financing.
We intend to incur additional indebtedness in the future, including the use of our unsecured revolving credit facility, which has a borrowing capacity of $3.0 billion. At December 31, 2018, we had $252.0 million of outstanding borrowings under our revolving credit facility, a total of $5.4 billion of outstanding unsecured senior debt securities (excluding unamortized net original issuance premiums of $10.5 million and deferred financing costs of $33.7 million), $570.0 million of borrowings outstanding under our senior unsecured term loans (excluding deferred financing costs of $1.4 million) and approximately $298.4 million of outstanding mortgage debt (excluding net unamortized premiums totaling $4.4 million and deferred financing costs of $183,000 on this mortgage debt). To the extent that new indebtedness is added to our current debt levels, the related risks that we now face would increase. As a result, we are and will be subject to risks associated with debt financing, including the risk that our cash flow could be insufficient to make required payments on our debt. We also face variable interest rate risk as the interest rates on our revolving credit facility, our term loans and some of our mortgage debt are variable and could therefore increase over time. We also face the risk that we may be unable to refinance or repay our debt as it comes due. Given past disruptions in the financial markets and the recent global financial crisis and related uncertainties, including the impact of the United Kingdom’s advisory referendum to withdraw from the European Union (referred to as Brexit), we also face the risk that one or more of the participants in our revolving credit facility may not be able to lend us money.
In addition, our revolving credit facility, our term loan facilities and mortgage loan documents contain provisions that could limit or, in certain cases, prohibit the payment of dividends and other distributions on our common stock and preferred stock. In particular, our revolving credit facility and our two $250.0 million term loan facilities, all of which are governed by the same credit agreement, provide that, if an event of default (as defined in the credit agreement) exists, neither we nor any of our subsidiaries (other than our wholly-owned subsidiaries) may pay any dividends or other distributions on (except distributions payable in shares of a given class of our stock to the stockholders of that class), or repurchase or redeem, among other things, any shares of our common stock or preferred stock, during any period of four consecutive fiscal quarters in an aggregate amount in excess of the greater of:
•
The sum of (a) 95% of our adjusted funds from operations (as defined in the credit agreement) for that period plus (b) the aggregate amount of cash distributions on our preferred stock for that period, and
•
The minimum amount of cash distributions required to be made to our stockholders in order to maintain our status as a REIT for federal income tax purposes and to avoid the payment of any income or excise taxes that would otherwise be imposed under specified sections of the Code on income we do not distribute to our stockholders,
- 25-
except that we may repurchase or redeem shares of our preferred stock with the net proceeds from the issuance of shares of our common stock or preferred stock. The credit agreement further provides that, in the event of a failure to pay principal, interest or any other amount payable thereunder when due or upon the occurrence of certain events of bankruptcy, insolvency or reorganization with respect to us or with respect to one or more of our subsidiaries that in the aggregate meet a significance test set forth in the credit agreement, we and our subsidiaries (other than our wholly-owned subsidiaries) may not pay any dividends or other distributions on (except for (a) distributions payable in shares of a given class of our stock to the stockholders of that class and (b) dividends and distributions described in the second bullet point above), or repurchase or redeem, among other things, any shares of our common stock or preferred stock. If any such event of default under the credit agreement were to occur, it would likely have a material adverse effect on the market price of our outstanding common and preferred stock and on the market value of our debt securities, could limit the amount of dividends or other distributions payable on our common stock and preferred stock or the amount of interest and principal we are able to pay on our indebtedness, or prevent us from paying those dividends, other distributions, interest or principal altogether, and may adversely affect our ability to qualify, or prevent us from qualifying, as a REIT.
Our indebtedness could also have other important consequences to holders of our common stock, preferred stock, and debt securities, including:
•
Increasing our vulnerability to general adverse economic and industry conditions;
•
Limiting our ability to obtain additional financing to fund future working capital, acquisitions, capital expenditures and other general corporate requirements;
•
Requiring the use of a substantial portion of our cash flow from operations for the payment of principal and interest on our indebtedness, thereby reducing our ability to use our cash flow to fund working capital, acquisitions, capital expenditures, and general corporate requirements;
•
Limiting our flexibility in planning for, or reacting to, changes in our business and our industry; and
•
Putting us at a disadvantage compared to our competitors with less indebtedness.
If we default under a credit facility, loan agreement or other debt instrument, the lenders will generally have the right to demand immediate repayment of the principal and interest on all of their loans and, in the case of secured indebtedness, to exercise their rights to seize and sell the collateral.
Our business operations may not generate the cash needed to make distributions on our capital stock or to service our indebtedness.
Our ability to make distributions on our common stock and preferred stock and payments on our indebtedness, and to fund planned acquisitions and capital expenditures will depend on our ability to generate cash in the future. We cannot assure you that our business will generate sufficient cash flow from operations or that future borrowings will be available to us in an amount sufficient to enable us to make distributions on our common stock and preferred stock, to pay our indebtedness, or to fund our other liquidity needs.
The market value of our capital stock and debt securities could be substantially affected by various factors.
The market value of our capital stock and debt securities will depend on many factors, which may change from time to time and may be outside of our control, including:
•
Prevailing interest rates, increases in which may have an adverse effect on the market value of our capital stock and debt securities;
•
The market for similar securities issued by other REITs;
•
General economic, political and financial market conditions;
•
The financial condition, performance and prospects of us, our tenants and our competitors;
•
Changes in legal and regulatory taxation obligations;
•
Litigation and regulatory proceedings;
•
Changes in financial estimates or recommendations by securities analysts with respect to us, our competitors or our industry;
•
Changes in our credit ratings; and
•
Actual or anticipated variations in quarterly operating results of us and our competitors.
In addition, over the last several years, prices of common stock and debt securities in the United States, or U.S., trading markets have been experiencing extreme price fluctuations, and the market values of our common stock and debt securities have also fluctuated significantly during this period. As a result of these and other factors,
- 26-
investors who purchase our capital stock and debt securities may experience a decrease, which could be substantial and rapid, in the market value of our capital stock and debt securities, including decreases unrelated to our operating performance or prospects.
Real estate ownership is subject to particular conditions that may have a negative impact on our revenue.
We are subject to all of the inherent risks associated with the ownership of real estate. In particular, we face the risk that rental revenue from our properties may be insufficient to cover all corporate operating expenses, debt service payments on indebtedness we incur, and distributions on our capital stock. Additional real estate ownership risks include:
•
Adverse changes in general or local economic conditions;
•
Changes in supply of, or demand for, similar or competing properties;
•
Changes in interest rates and operating expenses;
•
Competition for tenants;
•
Changes in market rental rates;
•
Inability to lease properties upon termination of existing leases;
•
Renewal of leases at lower rental rates;
•
Inability to collect rents from tenants due to financial hardship, including bankruptcy;
•
Changes in tax, real estate, zoning and environmental laws that may have an adverse impact upon the value of real estate;
•
Uninsured property liability;
•
Property damage or casualty losses;
•
Unexpected expenditures for capital improvements, including requirements to bring properties into compliance with applicable federal, state and local laws;
•
The need to periodically renovate and repair our properties;
•
Development oriented activities;
•
Physical or weather-related damage to properties;
•
The potential risk of functional obsolescence of properties over time;
•
Acts of terrorism and war; and
•
Acts of God and other factors beyond the control of our management.
Real estate property investments are illiquid; therefore, the company may not be able to dispose of properties when desired or on favorable terms.
Real estate investments are relatively illiquid. Our ability to quickly sell or exchange any of our properties in response to changes in economic and other conditions will be limited. No assurances can be given that we will recognize full value, at a price and at terms that are acceptable to us, for any property that we are required to sell for liquidity reasons. Our inability to respond rapidly to changes in the performance of our investments could adversely affect our financial condition and results of operations.
Our acquisition of additional properties may have a significant effect on our business, liquidity, financial position and/or results of operations.
We are engaged in the process of identifying, analyzing, underwriting, and negotiating possible acquisition transactions. We cannot provide any assurances that we will be successful in consummating future acquisitions on favorable terms or that we will realize the benefits that we anticipate from such acquisitions. Our inability to consummate one or more acquisitions on such terms, our failure to adequately underwrite and identify risks and obligations when acquiring properties, or our failure to realize the intended benefits from one or more acquisitions, could have a significant adverse effect on our business, liquidity, financial position and/or results of operations, including as a result of our incurrence of additional indebtedness and related interest expense and our assumption of unforeseen contingent liabilities in connection with completed acquisitions.
Furthermore, we have made and may continue to make selected acquisitions of properties that fall outside our historical focus on freestanding, single-tenant, net lease locations. We may be exposed to a variety of new risks by expanding into new property types and properties leased to tenants engaged in non-retail businesses, including risks resulting from our limited experience in managing, underwriting and assessing risks related to such properties or understanding the market dynamics applicable to such properties, tenants or lease structures, any of which could also have a significant adverse effect on our business, liquidity, financial position and/or results of operations.
- 27-
If we acquire properties outside of the United States, we would be subject to a variety of additional risks that may negatively impact our operations.
We may make selected acquisitions of properties outside of the United States, in which case we may be exposed to a variety of new risks such as:
•
The laws, rules and regulations applicable in such jurisdictions outside of the United States, including those related to property ownership by foreign entities;
•
Fluctuations in exchange rates between foreign currencies and the U.S. dollar, and exchange controls;
•
Limited experience with local business and cultural factors that differ from our usual standards and practices;
•
Challenges in establishing effective controls and procedures to regulate operations in different regions and to monitor compliance with applicable regulations, such as applicable laws related to corrupt practices, employment, licensing, construction or environmental compliance;
•
Unexpected changes in regulatory requirements, tax, tariffs, trade barriers and other laws within jurisdictions outside the United States or between the United States and such jurisdictions;
•
Potentially adverse tax consequences with respect to our properties;
•
The impact of regional or country-specific business cycles and economic instability, including deteriorations in political relations with the United States, instability in, or further withdrawals from, the European Union or other international trade alliances or agreements; and
•
Political instability, uncertainty over property rights, civil unrest, drug trafficking, political activism or the continuation or escalation of terrorist or gang activities.
If we are unable to adequately address these risks, they could have a significant adverse effect on our operations.
An uninsured loss or a loss that exceeds the policy limits on our properties could subject us to lost capital or revenue on those properties.
Under the terms and conditions of the leases currently in force on our properties, tenants generally are required to indemnify and hold us harmless from liabilities resulting from injury to persons, air, water, land or property, due to activities conducted on the properties, except for claims arising from the negligence or intentional misconduct of us or our agents. Additionally, tenants are generally required, at the tenant’s expense, to obtain and keep in full force during the term of the lease, liability and property damage insurance policies. The insurance policies our tenants are required to maintain for property damage are generally in amounts not less than the full replacement cost of the improvements less slab, foundations, supports and other customarily excluded improvements. Our tenants are generally required to maintain general liability coverage depending on the tenant and the industry in which the tenant operates.
In addition to the indemnities and required insurance policies identified above, many of our properties are also covered by flood and earthquake insurance policies (subject to substantial deductibles) obtained and paid for by the tenants as part of their risk management programs. Additionally, we have obtained blanket liability, flood and earthquake (subject to substantial deductibles) and property damage insurance policies to protect us and our properties against loss should the indemnities and insurance policies provided by the tenants fail to restore the properties to their condition prior to a loss. However, should a loss occur that is uninsured or in an amount exceeding the combined aggregate limits for the policies noted above, or in the event of a loss that is subject to a substantial deductible under an insurance policy, we could lose all or part of our capital invested in, and anticipated revenue from, one or more of the properties, which could have a material adverse effect on our
results of operations or financial condition and on our ability to pay the principal of and interest on our debt securities and other indebtedness and to make distributions to our stockholders. We also face the risk that our insurance carriers may not be able to provide payment under any potential claims that might arise under the terms of our insurance policies, and we may not have the ability to purchase insurance policies we desire.
In addition, although we obtain title insurance policies of our properties to protect us and our properties against unknown title defects (such as claims of ownership, liens or other encumbrances), there may be certain title defects that our title insurance will not cover. If a material title defect related to any of our properties is not adequately covered by a title insurance policy, we could lose some or all of our capital invested in and our anticipated profits from such property, cause a financial misstatement or lead to reputational damage to the company.
Compliance with the Americans with Disabilities Act of 1990 and fire, safety, and other regulations may require us to make unintended expenditures that could adversely impact our results of operations.
Our properties are generally required to comply with the Americans with Disabilities Act of 1990, or the ADA. The ADA has separate compliance requirements for “public accommodations” and “commercial facilities,” but generally
- 28-
requires that buildings be made accessible to people with disabilities. Compliance with the ADA requirements could require removal of access barriers and non-compliance could result in imposition of fines by the U.S. government or an award of damages to private litigants. The retailers to whom we lease properties are obligated by law to comply with the ADA provisions, and we believe that these retailers may be generally obligated to cover costs associated with compliance. If required changes involve greater expenditures than anticipated, or if the changes must be made on a more accelerated basis than anticipated, the ability of these retailers to cover costs could be adversely affected and we could be required to expend our own funds to comply with the provisions of the ADA, which could materially adversely affect our results of operations or financial condition and our ability to pay the principal of and interest on our debt securities and other indebtedness and to make distributions to our stockholders. In addition, we are required to operate our properties in compliance with fire and safety regulations, building codes and other land use regulations, as they may be adopted by governmental agencies and bodies and become applicable to our properties. We may be required to make substantial capital expenditures to comply with those requirements and these expenditures could have a material adverse effect on our results of operations or financial condition and our ability to pay the principal of and interest on our debt securities and other indebtedness and to make distributions to our stockholders.
Litigation risks could affect our business.
From time to time, we are involved in legal proceedings, lawsuits, and other claims. An unfavorable resolution of litigation may have a material adverse effect on our business, results of operations and financial condition. Regardless of its outcome, litigation may result in substantial costs and expenses and significantly divert the attention of management.
Property taxes may increase without notice.
The real property taxes on our properties and any other properties that we develop or acquire in the future may increase as property tax rates change and as those properties are assessed or reassessed by tax authorities.
We depend on key personnel.
We depend on the efforts of our executive officers and key employees. The loss of the services of our executive officers and key employees could have a material adverse effect on our results of operations or financial condition and on our ability to pay the principal and interest on our debt securities and other indebtedness and to make distributions to our stockholders. It is possible that we will not be able to recruit additional personnel with equivalent experience in the net lease industry.
Natural disasters, terrorist attacks, other acts of violence or war, or other unexpected events may affect the value of our debt and equity securities, the markets in which we operate and our results of operations.
Natural disasters, terrorist attacks, other acts of violence or war, or other unexpected events may negatively affect our operations, the market price of our capital stock and the value of our debt securities. There can be no assurance that events like these will not occur or have a direct impact on our tenants, our business or the United States generally.
If events like these were to occur, they could materially interrupt our business operations, cause consumer confidence and spending to decrease or result in increased volatility in the U.S. and worldwide financial markets and economy. They also could result in or prolong an economic recession in the U.S. or abroad. Any of these occurrences could have a significant adverse impact on our operating results and revenues and on the market price of our capital stock and on the value of our debt securities. It could also have an adverse effect on our ability to pay principal and interest on our debt securities or other indebtedness and to make distributions to our stockholders.
We rely on information technology in our operations, and any material failure, inadequacy, interruption or security failure of that technology could harm our business.
We rely on information technology networks and systems, including the Internet, to process, transmit and store electronic information and to manage or support a variety of our business processes, including financial transactions and maintenance of records, which may include personal identifying information. Although we have taken steps to protect the security of the data maintained in our information systems, our security measures may not be able to prevent the systems’ improper functioning, or the theft of intellectual property, personal information, or personal property, such as in the event of cyber-attacks. Any failure to maintain proper function, security and availability of our information systems could interrupt our operations, result in theft of company assets, damage our reputation, subject us to liability claims and could adversely affect our business, financial condition and results of operations.
- 29-
In addition, we implemented a new enterprise resource planning system in 2018. We may experience difficulties with this system, which could potentially result in disruption to our normal accounting procedures and internal control over financial reporting, inaccuracies in the conversion of electronic data, difficulties integrating the systems and processes, additional costs to continue to refine the system’s functionality, and disruption of our financial reporting process.
Disruptions in the financial markets could affect our ability to obtain financing on reasonable terms and have other adverse effects on us and the market price of our common stock.
Over the last several years, the United States stock and credit markets have experienced significant price volatility, dislocations and liquidity disruptions, which have caused market prices of many stocks and debt securities to fluctuate substantially and the spreads on prospective debt financings to widen considerably. In addition, recent global financial crises (such as concerns that certain European countries may be unable to pay their national debt) has had a similar effect. These circumstances have materially impacted liquidity in the financial markets, making terms for certain financings less attractive, and in certain cases have resulted in the unavailability of certain types of financing. Unrest in certain Middle Eastern countries and resultant fluctuation in petroleum prices have added to the uncertainty in the capital markets. Continued uncertainty in the stock and credit markets may negatively impact our ability to access additional financing at reasonable terms, which may negatively affect our ability to make acquisitions. A prolonged downturn in the stock or credit markets may cause us to seek alternative sources of potentially less attractive financing, and may require us to adjust our business plan accordingly. In addition, these factors may make it more difficult for us to sell properties or may adversely affect the price we receive for properties that we do sell, as prospective buyers may experience increased costs of financing or difficulties in obtaining financing. These events in the stock and credit markets may make it more difficult or costly for us to raise capital through the issuance of our common stock or preferred stock or debt securities. These disruptions in the financial markets also may have a material adverse effect on the market value of our common stock, preferred stock and debt securities, the income we receive from our properties and the lease rates we can charge for our properties, as well as other unknown adverse effects on us or the economy in general.
Inflation may adversely affect our financial condition and results of operations.
Although inflation has not materially impacted our results of operations in the recent past, increased inflation could have a more pronounced negative impact on any variable rate debt we incur in the future and on our results of operations. During times when inflation is greater than increases in rent, as provided for in our leases, rent increases may not keep up with the rate of inflation. Likewise, even though net leases reduce our exposure to rising property expenses due to inflation, substantial inflationary pressures and increased costs may have an adverse impact on our tenants if increases in their operating expenses exceed increases in revenue, which may adversely affect the tenants’ ability to pay rent.
Current volatility in market and economic conditions may impact the accuracy of the various estimates used in the preparation of our financial statements and footnotes to the financial statements.
Various estimates are used in the preparation of our financial statements, including estimates related to asset and liability valuations (or potential impairments), and various receivables. Often these estimates require the use of market data values that are currently difficult to assess, as well as estimates of future performance or receivables collectability that can also be difficult to accurately predict. Although management believes it has been prudent and used reasonable judgment in making these estimates, it is possible that actual results may differ from these estimates.
Inherent limitations of internal controls over financial statements, disclosure controls and safeguarding of assets may adversely impact our financial condition and results of operations.
Our internal controls over financial reporting, disclosure controls and procedures and our operating internal controls may not prevent or detect financial misstatements or loss of assets because of inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud. Effective internal controls can provide only reasonable assurance with respect to financial statement and disclosure accuracy and safeguarding of assets. Any failure of these internal controls could result in decreased investor confidence in the accuracy and completeness of our financial reports and disclosures, our REIT qualification being jeopardized, impairment in the company’s access to capital, civil litigation or investigations by the NYSE, the SEC or other regulatory authorities, which may adversely impact our financial condition and results of operations.
- 30-
Our business could be negatively affected as a result of actions of activist stockholders and shareholder advisory firms.
Campaigns by stockholders to effect changes at publicly traded companies are sometimes led by investors seeking to increase short-term stockholder value through actions such as financial restructuring, increased debt, special dividends, stock repurchases or sales of assets or the entire company. If we become engaged in a process or proxy contest with an activist stockholder in the future, our business could be adversely affected, as such activities could be costly and time-consuming, disrupt our operations and divert the attention of management and our employees from executing our business plan. Additionally, perceived uncertainties as to our future direction as a result of stockholder activism or actual or potential changes to the composition of our Board of Directors or management team may lead to the perception of a change in the direction of our business, instability or lack of continuity, which may be exploited by our competitors, cause concern to current or potential sellers of properties, tenants and financing sources, and make it more difficult to attract and retain qualified personnel. If potential or existing sellers of properties, tenants or financing sources choose to delay, defer or reduce transactions with us or transact with our competitors instead of us because of any such issues, then our results of operations could be adversely affected. Similarly, we may suffer damage to our reputation (for example, regarding our corporate governance or stockholder relations) or brand by way of actions taken or statements made by outside constituents, including activist investors and shareholder advisory firms, which could adversely affect the market price of our common stock and preferred stock and the value of our debt securities, including the notes, resulting in significant loss of value, which could impact our ability to access capital, increase our cost of capital, and decrease our ability to acquire properties on attractive terms.
Our charter contains restrictions upon ownership of our common stock.
Our charter contains restrictions on ownership and transfer of our common stock intended to, among other purposes, assist us in maintaining our status as a REIT for United States federal and/or state income tax purposes. For example, our charter restricts any person from acquiring actual or constructive ownership of more than 9.8% (in value or number of shares, whichever is more restrictive) of our outstanding common stock. These restrictions could have anti-takeover effects and could reduce the possibility that a third party will attempt to acquire control of us, which could adversely affect the market price of our common stock.
The value of certain of our investment in real property may be reduced as the result of the expiration or loss of local tax abatements, tax credit programs, or other governmental incentives.
Certain of our investments have the benefit of governmental tax incentives aimed at inducing retail users to relocate to incentivize development in areas and neighborhoods which have not historically seen robust commercial development. The Tax Cuts and Jobs Act provided for such communities to be designated as Qualified Opportunity Zones, which are eligible for such tax benefits. These incentives typically have specific sunset provisions and may be subject to governmental discretion in the eligibility or award of the applicable incentives. The expiration of these incentive programs or the inability of potential tenants or users to be eligible for or to obtain governmental approval of the incentives, or the inability to remain compliant with such programs, may have an adverse effect on the value of our investment, cash flow and net income, and may result in impairment charges.

---

ITEM 1B. UNRESOLVED STAFF COMMENTS
Item 1B: Unresolved Staff comments
There are no unresolved staff comments.

---

ITEM 2. PROPERTIES
Item 2: Properties
Information pertaining to our properties can be found under Item 1.

---

ITEM 3. LEGAL PROCEEDINGS
Item 3: Legal Proceedings
We are subject to certain claims and lawsuits in the ordinary course of business, the outcome of which cannot be determined at this time. In the opinion of management, any liability we might incur upon the resolution of these claims and lawsuits will not, in the aggregate, have a material adverse effect on our consolidated financial position or results of operations.

---

ITEM 4. RESERVED
Item 4: Mine Safety Disclosures
None.
- 31-
PART II

---

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY
Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
A. Our common stock is traded on the NYSE under the ticker symbol “O.” The following table shows the high and low sales prices per share for our common stock as reported by the NYSE, and distributions declared per share of common stock for the periods indicated.
(1)Common stock cash distributions are declared monthly by us based on financial results for the prior months. At December 31, 2018, a distribution of $0.221 per common share had been declared and was paid in January 2019.
B. There were 9,789 registered holders of record of our common stock as of December 31, 2018. We estimate that our total number of stockholders is over 525,000 when we include both registered and beneficial holders of our common stock.
C. During the fourth quarter of 2018, the following shares of stock were withheld for state and federal payroll taxes on the vesting of employee stock awards, as permitted under the 2012 Incentive Award Plan of Realty Income Corporation:
•
66,246 shares of stock, at a weighted average price of $57.56, in October 2018;
•
124,460 shares of stock, at a weighted average price of $63.90, in November 2018; and
•
278 shares of stock, at a weighted average price of $64.27, in December 2018.

---

ITEM 6. SELECTED FINANCIAL DATA
Item 6: Selected Financial Data
(not covered by Report of Independent Registered Public Accounting Firm)
(dollars in thousands, except for per share data)
The following table sets forth our selected historical consolidated financial information for each of the five years in the period ended December 31, 2018. The statements of income and comprehensive income data, the statements of equity data, the statements of cash flows data and the other data for the years ended December 31, 2018, 2017 and 2016 and the balance sheet data as of December 31, 2018 and 2017 were derived from our audited consolidated financial statements included elsewhere in this Form 10-K. The statements of income and comprehensive income data, the statements of equity data, the statements of cash flows data and the other data for the years ended December 31, 2015 and 2014, and the balance sheet data as of December 31, 2016, 2015 and 2014 were derived from our audited consolidated financial statements that are not included in this Form 10-K.
The selected financial data presented below is not necessarily indicative of results of future operations and should be read in conjunction with our consolidated financial statements and the information included under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Form 10-K.
- 32-
- 33-

---

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS
Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations
GENERAL
Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing stockholders with dependable monthly dividends that increase over time. The company is structured as a real estate investment trust, or REIT, requiring it annually to distribute at least 90% of its taxable income (excluding net capital gains) in the form of dividends to its stockholders. The monthly dividends are supported by the cash flow generated from real estate owned under long-term, net lease agreements with regional and national commercial tenants.
Realty Income was founded in 1969, and listed on the New York Stock Exchange (NYSE: O) in 1994. Over the past 50 years, Realty Income has been acquiring and managing freestanding commercial properties that generate rental revenue under long-term net lease agreements. The company is a member of the S&P High Yield Dividend Aristocrats® index for having increased its dividend every year for more than 20 consecutive years.
At December 31, 2018, we owned a diversified portfolio:
•
Of 5,797 properties;
•
With an occupancy rate of 98.6%, or 5,717 properties leased and 80 properties available for lease;
•
Leased to 262 different commercial tenants doing business in 48 separate industries;
•
Located in 49 states and Puerto Rico;
•
With over 93.3 million square feet of leasable space; and
•
With an average leasable space per property of approximately 16,110 square feet; approximately 11,260 square feet per retail property and 229,000 square feet per industrial property.
Of the 5,797 properties in the portfolio, 5,769, or 99.5%, are single-tenant properties, and the remaining are multi-tenant properties. At December 31, 2018, of the 5,769 single-tenant properties, 5,692 were leased with a weighted average remaining lease term (excluding rights to extend a lease at the option of the tenant) of approximately 9.2 years.
LIQUIDITY AND CAPITAL RESOURCES
Capital Philosophy
Historically, we have met our long-term capital needs by issuing common stock, preferred stock and long-term unsecured notes and bonds. Over the long term, we believe that common stock should be the majority of our capital structure; however, we may issue additional preferred stock or debt securities. We may issue common stock when we believe that our share price is at a level that allows for the proceeds of any offering to be accretively invested into additional properties. In addition, we may issue common stock to permanently finance properties that were initially financed by our credit facility or debt securities. However, we cannot assure you that we will have access to the capital markets at all times and at terms that are acceptable to us.
Our primary cash obligations, for the current year and subsequent years, are included in the “Table of Obligations,” which is presented later in this section. We expect to fund our operating expenses and other short-term liquidity requirements, including property acquisitions and development costs, payment of principal and interest on our outstanding indebtedness, property improvements, re-leasing costs and cash distributions to common and preferred stockholders, primarily through cash provided by operating activities, borrowing on our credit facility and periodically through public securities offerings.
Conservative Capital Structure
We believe that our stockholders are best served by a conservative capital structure. Therefore, we seek to maintain a conservative debt level on our balance sheet and solid interest and fixed charge coverage ratios. At December 31, 2018, our total outstanding borrowings of senior unsecured notes and bonds, term loans, mortgages payable and credit facility borrowings were $6.5 billion, or approximately 25.4% of our total market capitalization of $25.7 billion.
- 34-
We define our total market capitalization at December 31, 2018 as the sum of:
•
Shares of our common stock outstanding of 303,742,090, plus total common units outstanding of 690,819, multiplied by the last reported sales price of our common stock on the NYSE of $63.04 per share on December 31, 2018, or $19.2 billion;
•
Outstanding borrowings of $252.0 million on our credit facility;
•
Outstanding mortgages payable of $298.4 million, excluding net mortgage premiums of $4.4 million and deferred financing costs of $183,000;
•
Outstanding borrowings of $570.0 million on our term loans, excluding deferred financing costs of $1.4 million; and
•
Outstanding senior unsecured notes and bonds of $5.4 billion, excluding unamortized net original issuance premiums of $10.5 million and deferred financing costs of $33.7 million.
In January 2019, we redeemed all of our outstanding 317,022 common units of Tau Operating Partnership, L.P., which reduced our total common units outstanding to 373,797 as of January 3, 2019. Additionally, in January 2019, we paid off the outstanding balance and interest on the $70.0 million senior unsecured term loan entered in January 2013 in conjunction with our acquisition of ARCT. Following the redemption, we hold 100% of the ownership interests of Tau Operating Partnership, L.P., and continue to consolidate the entity.
Universal Shelf Registration
In November 2018, we filed a shelf registration statement with the SEC, which is effective for a term of three years and will expire in November 2021. In accordance with SEC rules, the amount of securities to be issued pursuant to this shelf registration statement was not specified when it was filed and there is no specific dollar limit. The securities covered by this registration statement include (1) common stock, (2) preferred stock, (3) debt securities, (4) depositary shares representing fractional interests in shares of preferred stock, (5) warrants to purchase debt securities, common stock, preferred stock, or depositary shares, and (6) any combination of these securities. We may periodically offer one or more of these securities in amounts, prices and on terms to be announced when and if these securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of any offering.
At-the-Market (ATM) Programs
In November 2018, following the issuance and sale of 25,038,145 shares under our prior ATM equity distribution plans, or our prior ATM programs, we established a new ATM equity distribution plan, or our new ATM program, pursuant to which up to 28,961,855 additional shares of common stock may be offered and sold (1) by us to, or through, a consortium of banks acting as our sales agents or (2) by a consortium of banks acting as forward sellers on behalf of any forward purchasers contemplated thereunder, in each case by means of ordinary brokers' transactions on the NYSE at prevailing market prices or at negotiated prices. During 2018, we issued 19,138,610 shares and raised gross proceeds of $1.1 billion under our new and prior ATM programs. From the inception of our new and prior ATM programs through December 31, 2018, we have issued 33,546,139 shares and raised $2.0 billion.
Dividend Reinvestment and Stock Purchase Plan
Our Dividend Reinvestment and Stock Purchase Plan, or our DRSPP, provides our common stockholders, as well as new investors, with a convenient and economical method of purchasing our common stock and reinvesting their distributions. Our DRSPP also allows our current stockholders to buy additional shares of common stock by reinvesting all or a portion of their distributions. Our DRSPP authorizes up to 26,000,000 common shares to be issued. Our DRSPP includes a waiver approval process, allowing larger investors or institutions, per a formal approval process, to purchase shares at a small discount, if approved by us. During 2018, we issued 166,268 shares and raised approximately $9.1 million under our DRSPP. We did not issue shares under the waiver approval process during 2018. From the inception of our DRSPP through December 31, 2018, we have issued 14,229,810 shares and raised approximately $670.9 million.
Revolving Credit Facility
In October 2018, we entered into a new $3.25 billion unsecured credit facility to replace our previous $2.25 billion unsecured credit facility, of which $2.0 billion was due to expire in June 2019. This new credit facility includes a $3.0 billion unsecured revolving credit facility and a new $250.0 million unsecured term loan due March 2024. The new revolving credit facility, or our revolving credit facility, matures in March 2023 and includes two six-month extensions that can be exercised at our option. Our revolving credit facility also has a $1.0 billion expansion feature. Under our
- 35-
revolving credit facility, our current investment grade credit ratings provide for financing at LIBOR plus 0.775% with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.90% over LIBOR.
The borrowing rate under our revolving credit facility is subject to an interest rate floor and may change if our investment grade credit ratings change. We also have other interest rate options available to us under our credit facility. Our revolving credit facility is unsecured and, accordingly, we have not pledged any assets as collateral for this obligation.
At December 31, 2018, we had a borrowing capacity of $2.75 billion available on our revolving credit facility and an outstanding balance of $252.0 million. The weighted average interest rate on borrowings outstanding under our revolving credit facility, at December 31, 2018, was 3.2% per annum. We must comply with various financial and other covenants in our credit facility. At December 31, 2018, we were in compliance with these covenants. We expect to use our credit facility to acquire additional properties and for other general corporate purposes. Any additional borrowings will increase our exposure to interest rate risk.
We generally use our credit facility for the short-term financing of new property acquisitions. Thereafter, we generally seek to refinance those borrowings with the net proceeds of long-term or permanent financing, which may include the issuance of common stock, preferred stock or debt securities. We cannot assure you, however, that we will be able to obtain any such refinancing, or that market conditions prevailing at the time of the refinancing will enable us to issue equity or debt securities at acceptable terms.
Term Loans
In October 2018, in conjunction with our revolving credit facility, we entered into a new $250.0 million senior unsecured term loan, which matures in March 2024. Borrowing under this term loan bears interest at the current one-month LIBOR plus 0.85%. In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest on this term loan at 3.89%.
In December 2017, in conjunction with the acquisition of a portfolio of properties, we entered into a $125.9 million promissory note, which was paid in full at maturity in January 2018. Borrowings under this note bore interest at 1.52%.
In June 2015, in conjunction with entering into our previous credit facility, we entered into a $250.0 million senior unsecured term loan maturing June 2020. Borrowing under this term loan bears interest at the current one-month LIBOR, plus 0.90%. In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.62%.
In January 2013, in conjunction with our acquisition of American Realty Capital Trust, Inc., or ARCT, we entered into a $70.0 million senior unsecured term loan with an initial maturity date of January 2018. Borrowing under this term loan bore interest at the current one-month LIBOR plus 1.10%. In conjunction with this term loan, we also entered into an interest rate swap, which, until its termination in January 2018, effectively fixed our per annum interest rate on this term loan at 2.05%. In 2018, we entered into two separate six-month extensions of this loan, during which periods the interest was born at the current one-month LIBOR, plus 0.90%. In January 2019, we paid off the outstanding principal and interest on this term loan.
Mortgage Debt
As of December 31, 2018, we had $298.4 million of mortgages payable, all of which were assumed in connection with our property acquisitions. Additionally, at December 31, 2018, we had net premiums totaling $4.4 million on these mortgages and deferred financing costs of $183,000. We expect to pay off the mortgages payable as soon as prepayment penalties have declined to a level that would make it economically feasible to do so. During 2018, we made $21.9 million of principal payments, including the repayment of two mortgages in full for $17.0 million.
- 36-
Notes Outstanding
Our senior unsecured note and bond obligations consist of the following as of December 31, 2018, sorted by maturity date (dollars in millions):
In January 2018, we repaid our $350.0 million of outstanding 2.000% notes, plus accrued and unpaid interest upon maturity. In April 2018, we issued $500.0 million of 3.875% senior unsecured notes due 2025, or the 2025 Notes. The public offering price for the 2025 Notes was 99.50% of the principal amount, for an effective yield to maturity of 3.957%. The net proceeds of approximately $493.1 million from this offering were used to repay borrowings outstanding under our credit facility, to fund investment opportunities, and for other general corporate purposes.
All of our outstanding notes and bonds have fixed interest rates and contain various covenants, with which we remained in compliance as of December 31, 2018. Additionally, interest on all of our senior note and bond obligations is paid semiannually.
The following is a summary of the key financial covenants for our senior unsecured notes, as defined and calculated per the terms of our senior notes and bonds. These calculations, which are not based on U.S. GAAP measurements, are presented to investors to show our ability to incur additional debt under the terms of our senior notes and bonds as well as to disclose our current compliance with such covenants, and are not measures of our liquidity or performance. The actual amounts as of December 31, 2018 are:
(1) Our debt service coverage ratio is calculated on a pro forma basis for the preceding four-quarter period on the assumptions that: (i) the incurrence of any Debt (as defined in the covenants) incurred by us since the first day of such four-quarter period and the application of the proceeds therefrom (including to refinance other Debt since the first day of such four-quarter period), (ii) the repayment or retirement of any of our Debt since the first day of such four-quarter period, and (iii) any acquisition or disposition by us of any asset or group since the first day of such four quarters had in each case occurred on January 1, 2018, and subject to certain additional adjustments. Such pro forma ratio has been prepared on the basis required by that debt service covenant, reflects various estimates and assumptions and is subject to other uncertainties, and therefore does not purport to reflect what our actual debt service coverage ratio would have been had transactions referred to in clauses (i), (ii) and (iii) of the preceding sentence occurred as of January 1, 2018, nor does it purport to reflect our debt service coverage ratio for any future period. Our fixed charge coverage ratio is calculated in the same manner as our debt service coverage ratio, except that preferred stock dividends are also added to the denominator; since we redeemed our Class F preferred dividends in April 2017, our fixed charge coverage ratio is equivalent to our debt service coverage ratio. The following is our calculation of debt service and fixed charge coverage at December 31, 2018 (in thousands, for trailing twelve months):
- 37-
Cash Reserves
We are organized to operate as an equity REIT that acquires and leases properties and distributes to stockholders, in the form of monthly cash distributions, a substantial portion of our net cash flow generated from leases on our properties. We intend to retain an appropriate amount of cash as working capital. At December 31, 2018, we had cash and cash equivalents totaling $10.4 million.
We believe that our cash and cash equivalents on hand, cash provided from operating activities, and borrowing capacity is sufficient to meet our liquidity needs for the next twelve months. We intend, however, to use permanent or long-term capital to fund property acquisitions and to repay future borrowings under our credit facility.
Credit Agency Ratings
The borrowing interest rates under our credit facility are based upon our ratings assigned by credit rating agencies. As of December 31, 2018, we were assigned the following investment grade corporate credit ratings on our senior unsecured notes and bonds: Moody’s Investors Service has assigned a rating of A3 with a “stable” outlook, Standard & Poor’s Ratings Group has assigned a rating of A- with a “stable” outlook, and Fitch Ratings has assigned a rating of BBB+ with a “stable” outlook.
Based on our ratings as of December 31, 2018, the facility interest rate was LIBOR, plus 0.775% with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.90% over LIBOR. Our credit facility provides that the interest rate can range between: (i) LIBOR, plus 1.45% if our credit rating is lower than BBB-/Baa3 or unrated and (ii) LIBOR, plus 0.75% if our credit rating is A/A2 or higher. In addition, our credit facility provides for a facility commitment fee based on our credit ratings, which range from: (i) 0.30% for a rating lower than BBB-/Baa3 or unrated, and (ii) 0.10% for a credit rating of A/A2 or higher.
We also issue senior debt securities from time to time and our credit ratings can impact the interest rates charged in those transactions. If our credit ratings or ratings outlook change, our cost to obtain debt financing could increase or decrease. The credit ratings assigned to us could change based upon, among other things, our results of operations and financial condition. These ratings are subject to ongoing evaluation by credit rating agencies and we cannot assure you that our ratings will not be changed or withdrawn by a rating agency in the future if, in its judgment, circumstances warrant. Moreover, a rating is not a recommendation to buy, sell or hold our debt securities, preferred stock or common stock.
Table of Obligations
The following table summarizes the maturity of each of our obligations as of December 31, 2018 (dollars in millions):
(1) The initial term of the credit facility expires in March 2023 and includes, at our option, two six-month extensions.
(2) Excludes both non-cash original issuance discounts and premiums recorded on notes payable of $10.5 million and deferred financing costs of $33.7 million at December 31, 2018.
(3) Excludes deferred financing costs of $1.4 million. In January 2019, we repaid the outstanding principal and interest on the $70.0 million senior unsecured term loan we entered into in conjunction with our acquisition of ARCT in January 2013.
(4) Excludes both non-cash net premiums recorded on the mortgages payable of $4.4 million and deferred financing costs of $183,000 at December 31, 2018.
(5) Interest on the term loans, notes, bonds, mortgages payable, and credit facility has been calculated based on outstanding balances as of December 31, 2018 through their respective maturity dates.
(6) Realty Income currently pays the ground lessors directly for the rent under the ground leases.
(7) Our tenants, who are generally sub-tenants under ground leases, are responsible for paying the rent under these ground leases. In the event a tenant fails to pay the ground lease rent, we are primarily responsible.
(8) “Other” consists of $23.6 million of commitments under construction contracts and $5.8 million of commitments for tenant improvements and leasing costs.
Our credit facility, term loans, and notes payable obligations are unsecured. Accordingly, we have not pledged any assets as collateral for these obligations.
- 38-
No Unconsolidated Investments
We have no unconsolidated investments, nor do we engage in trading activities involving energy or commodity contracts.
Impact of Real Estate and Credit Markets
In the commercial real estate market, property prices generally continue to fluctuate. Likewise, during certain periods, the U.S. credit markets have experienced significant price volatility, dislocations, and liquidity disruptions, which may impact our access to and cost of capital. We continually monitor the commercial real estate and U.S. credit markets carefully and, if required, will make decisions to adjust our business strategy accordingly.
Acquisitions During 2018
During 2018, we invested $1.8 billion in 764 new properties and properties under development or expansion, with an initial weighted average contractual lease rate of 6.4%. The 764 new properties and properties under development or expansion are located in 39 states, will contain approximately 5.2 million leasable square feet, and are 100% leased with a weighted average lease term of 14.8 years. The tenants occupying the new properties operate in 21 industries and the property types are 96.3% retail and 3.7% industrial, based on rental revenue. During 2018, none of our real estate investments caused any one tenant to be 10% or more of our total assets at December 31, 2018.
The initial weighted average contractual lease rate for a property is generally computed as estimated contractual first year cash net operating income, which, in the case of a net leased property, is equal to the aggregate cash base rent for the first full year of each lease, divided by the total cost of the property. Since it is possible that a tenant could default on the payment of contractual rent, we cannot provide assurance that the actual return on the funds invested will remain at the percentages listed above.
In the case of a property under development or expansion, the contractual lease rate is generally fixed such that rent varies based on the actual total investment in order to provide a fixed rate of return. When the lease does not provide for a fixed rate of return on a property under development or expansion, the initial weighted average contractual lease rate is computed as follows: estimated cash net operating income (determined by the lease) for the first full year of each lease, divided by our projected total investment in the property, including land, construction and capitalized interest costs. Of the $1.8 billion we invested during 2018, $80.3 million was invested in 14 properties under development or expansion with an initial weighted average contractual lease rate of 6.9%. We may continue to pursue development or expansion opportunities under similar arrangements in the future.
Portfolio Discussion
Leasing Results
At December 31, 2018, we had 80 properties available for lease out of 5,797 properties in our portfolio, which represents a 98.6% occupancy rate based on the number of properties in our portfolio. Since December 31, 2017, when we reported 83 properties available for lease out of 5,172 and a 98.4% occupancy rate, we:
•
Had 267 lease expirations;
•
Re-leased 228 properties; and
•
Sold 42 vacant properties.
Of the 228 properties re-leased during 2018, 215 properties were re-leased to existing tenants, three were re-leased to new tenants without vacancy, and ten were re-leased to new tenants after a period of vacancy. The annual rent on these 228 leases was $46.15 million, as compared to the previous rent on these same properties of $44.66 million, which represents a rent recapture rate of 103.3% on the properties re-leased during 2018.
As part of our re-leasing costs, we pay leasing commissions to unrelated, third party real estate brokers consistent with the commercial real estate industry standard, and sometimes provide tenant rent concessions. We do not consider the collective impact of the leasing commissions or tenant rent concessions to be material to our financial position or results of operations.
At December 31, 2018, our average annualized rental revenue was approximately $14.24 per square foot on the 5,717 leased properties in our portfolio. At December 31, 2018, we classified 17 properties with a carrying amount of $16.6 million as held for sale on our balance sheet. The expected sale of these properties does not represent a
- 39-
strategic shift that will have a major effect on our operations and financial results and is consistent with our existing disposition strategy to further enhance our real estate portfolio and maximize portfolio returns.
Investments in Existing Properties
In 2018, we capitalized costs of $17.9 million on existing properties in our portfolio, consisting of $3.9 million for re-leasing costs, $1.1 million for recurring capital expenditures, and $12.9 million for non-recurring building improvements. In 2017, we capitalized costs of $12.7 million on existing properties in our portfolio, consisting of $1.6 million for re-leasing costs, $912,000 for recurring capital expenditures, and $10.2 million for non-recurring building improvements.
The majority of our building improvements relate to roof repairs, HVAC improvements, and parking lot resurfacing and replacements. The amounts of our capital expenditures can vary significantly, depending on the rental market, tenant credit worthiness, the lease term and the willingness of tenants to pay higher rents over the terms of the leases.
We define recurring capital expenditures as mandatory and repetitive landlord capital expenditure obligations that have a limited useful life. We define non-recurring capital expenditures as property improvements where we invest additional capital that extend the useful life of the properties.
Increases in Monthly Dividends to Common Stockholders
We have continued our 50-year policy of paying monthly dividends. In addition, we increased the dividend five times during 2018 and twice in 2019. As of February 2019, we have paid 85 consecutive quarterly dividend increases and increased the dividend 100 times since our listing on the NYSE in 1994.
The dividends paid per share during 2018 totaled approximately $2.6305, as compared to approximately $2.5270 during 2017, an increase of $0.1035, or 4.1%.
The monthly dividend of $0.2255 per share represents a current annualized dividend of $2.706 per share, and an annualized dividend yield of approximately 4.3% based on the last reported sale price of our common stock on the NYSE of $63.04 on December 31, 2018. Although we expect to continue our policy of paying monthly dividends, we cannot guarantee that we will maintain our current level of dividends, that we will continue our pattern of increasing dividends per share, or what our actual dividend yield will be in any future period.
RESULTS OF OPERATIONS
Critical Accounting Policies
Our consolidated financial statements have been prepared in accordance with GAAP, and are the basis for our discussion and analysis of financial condition and results of operations. Preparing our consolidated financial statements requires us to make a number of estimates and assumptions that affect the reported amounts and disclosures in the consolidated financial statements. We believe that we have made these estimates and assumptions in an appropriate manner and in a way that accurately reflects our financial condition. We continually test and evaluate these estimates and assumptions using our historical knowledge of the business, as well as other factors, to ensure that they are reasonable for reporting purposes. However, actual results may differ from these estimates and assumptions. This summary should be read in conjunction with the more complete discussion of our accounting policies and procedures included in note 2 to our consolidated financial statements.
- 40-
In order to prepare our consolidated financial statements according to the rules and guidelines set forth by GAAP, many subjective judgments must be made with regard to critical accounting policies. Management must make significant assumptions in determining the fair value of assets acquired and liabilities assumed. When acquiring a property for investment purposes, we typically allocate the cost of real estate acquired, inclusive of transaction costs, to: (1) land, (2) building and improvements, and (3) identified intangible assets and liabilities, based in each case on their relative estimated fair values. Intangible assets and liabilities consist of above-market or below-market lease value and the value of in-place leases, as applicable. In an acquisition of multiple properties, we must also allocate the purchase price among the properties. The allocation of the purchase price is based on our assessment of estimated fair value and is often based upon the expected future cash flows of the property and various characteristics of the market where the property is located. In addition, any assumed mortgages receivable or payable are recorded at their estimated fair values. The estimated fair values of our mortgages payable have been calculated by discounting the future cash flows using applicable interest rates that have been adjusted for factors, such as industry type, tenant investment grade, maturity date, and comparable borrowings for similar assets. The use of different assumptions in the allocation of the purchase price of the acquired properties and liabilities assumed could affect the timing of recognition of the related revenue and expenses.
Another significant judgment must be made as to if, and when, impairment losses should be taken on our properties when events or a change in circumstances indicate that the carrying amount of the asset may not be recoverable. A provision is made for impairment if estimated future operating cash flows (undiscounted and without interest charges) plus estimated disposition proceeds (undiscounted) are less than the current book value of the property. Key inputs that we utilize in this analysis include projected rental rates, estimated holding periods, historical sales and re-leases, capital expenditures, and property sales capitalization rates. If a property is held for sale, it is carried at the lower of carrying cost or estimated fair value, less estimated cost to sell. The carrying value of our real estate is the largest component of our consolidated balance sheets. Our strategy of primarily holding properties, long-term, directly decreases the likelihood of their carrying values not being recoverable, thus requiring the recognition of an impairment. However, if our strategy, or one or more of the above assumptions were to change in the future, an impairment may need to be recognized. If events should occur that require us to reduce the carrying value of our real estate by recording provisions for impairment, they could have a material impact on our results of operations.
The following is a comparison of our results of operations for the years ended December 31, 2018, 2017 and 2016.
Total Revenue
The following summarizes our total revenue (dollars in thousands):
Rental Revenue
The increase in rental revenue in 2018 compared to 2017 is primarily attributable to:
•
The 753 properties (4.8 million square feet) we acquired in 2018, which generated $54.0 million of rent in 2018;
•
The 287 properties (7.2 million square feet) we acquired in 2017, which generated $95.7 million of rent in 2018, compared to $35.8 million in 2017, an increase of $59.9 million;
•
Same store rents generated on 4,629 properties (78.1 million square feet) during 2018 and 2017, increased by $9.5 million, or 0.9%, to $1.08 billion from $1.07 billion; and
•
A net increase in straight-line rent and other non-cash adjustments to rent of $5.7 million in 2018 as compared to 2017; partially offset by
•
A net decrease of $13.2 million relating to properties sold in 2018 and during 2017; and
- 41-
•
A net decrease of $7.5 million relating to the aggregate of (i) rental revenue from properties (123 properties comprising 2.7 million square feet) that were available for lease during part of 2018 or 2017, (ii) rental revenue for 5 properties under development, and (iii) lease termination settlements. In aggregate, the revenues for these items totaled $15.9 million in 2018, compared to $23.4 million in 2017.
The increase in rental revenue in 2017 compared to 2016 is primarily attributable to:
•
The 287 properties (7.2 million square feet) we acquired in 2017, which generated $35.8 million of rent in 2017;
•
The 475 properties (7.6 million square feet) we acquired in 2016, which generated $114.4 million of rent in 2017, compared to $39.7 million in 2016, an increase of $74.7 million;
•
Same store rents generated on 4,254 properties (71.1 million square feet) during 2017 and 2016, increased by $9.8 million, or 1.0%, to $973.1 million from $963.3 million; partially offset by
•
A net decrease in straight-line rent and other non-cash adjustments to rent of $3.0 million in 2017 as compared to 2016;
•
A net decrease of $7.2 million relating to properties sold in 2017 and during 2016; and
•
A net decrease of $1.3 million relating to the aggregate of (i) rental revenue from properties (147 properties comprising 2.9 million square feet) that were available for lease during part of 2017 or 2016, (ii) rental revenue for 9 properties under development, and (iii) lease termination settlements. In aggregate, the revenues for these items totaled $26.6 million in 2017, compared to $28.0 million in 2016.
For purposes of determining the same store rent property pool, we include all properties that were owned for the entire year-to-date period, for both the current and prior year, except for properties during the current or prior year that; (i) were vacant at any time, (ii) were under development or redevelopment, or (iii) were involved in eminent domain and rent was reduced. Each of the exclusions from the same store pool are separately addressed within the applicable sentences above, explaining the changes in rental revenue for the period.
Of the 5,797 properties in the portfolio at December 31, 2018, 5,769, or 99.5%, are single-tenant properties and the remaining are multi-tenant properties. Of the 5,769 single-tenant properties, 5,692, or 98.7%, were net leased with a weighted average remaining lease term (excluding rights to extend a lease at the option of the tenant) of approximately 9.2 years at December 31, 2018. Of our 5,692 leased single-tenant properties, 4,952 or 87.0% were under leases that provide for increases in rents through:
•
Base rent increases tied to a consumer price index (typically subject to ceilings);
•
Percentage rent based on a percentage of the tenants’ gross sales;
•
Fixed increases; or
•
A combination of two or more of the above rent provisions.
Percentage rent, which is included in rental revenue, was $5.9 million in 2018, $6.1 million in 2017, and $5.3 million in 2016. Percentage rent in 2018 was less than 1% of rental revenue and we anticipate percentage rent to be less than 1% of rental revenue in 2019.
Our portfolio of real estate, leased primarily to regional and national tenants under net leases, continues to perform well and provides dependable lease revenue supporting the payment of monthly dividends to our stockholders. At December 31, 2018, our portfolio of 5,797 properties was 98.6% leased with 80 properties available for lease, as compared to 98.4% leased, with 83 properties available for lease at December 31, 2017. It has been our experience that approximately 1% to 4% of our property portfolio will be unleased at any given time; however, it is possible that the number of properties available for lease could exceed these levels in the future.
Tenant Reimbursements
A number of our leases provide for contractually obligated reimbursements from tenants for recoverable real estate taxes and operating expenses. The increase in tenant reimbursements in the years presented is primarily due to our increase in acquisitions.
Other Revenue
The increase in other revenue in the years presented was primarily related to higher proceeds from property insurance claims, condemnations and interest income from our investments in United States government money market funds.
- 42-
Total Expenses
The following summarizes our total expenses (dollars in thousands):
(1)
Excludes tenant reimbursements revenue.
(2)
General and administrative expenses for 2018 included a one-time severance payment made to our former CEO in October 2018. The total value of cash, stock compensation and professional fees incurred as a result of this severance was $28.3 million; however, the net amount, after incorporating accruals for CEO compensation previous to this severance, was $18,651 and was recorded to general and administrative expense (see our discussion of Adjusted Funds from Operations Available to Common Stockholders, or AFFO, which is not a financial measure under generally accepted accounting principles, which includes a reconciliation of this amount). In order to present a normalized calculation of our general and administrative expenses as a percentage of total revenue for 2018, we have excluded this one-time executive severance charge to arrive at a normalized general and administrative amount of $65,497, which was used for our calculation.
Depreciation and Amortization
The increase in depreciation and amortization in 2018 and 2017 was primarily due to the acquisition of properties in 2017 and 2018, which was partially offset by property sales in those same periods. As discussed in the sections entitled “Funds from Operations Available to Common Stockholders (FFO)” and “Adjusted Funds from Operations Available to Common Stockholders (AFFO),” depreciation and amortization is a non-cash item that is added back to net income available to common stockholders for our calculation of FFO and AFFO.
Interest Expense
The following is a summary of the components of our interest expense (dollars in thousands):
- 43-
The increases in interest expense for the years presented are primarily due to the issuances of notes in each respective year. These increases were partially offset by note redemptions in each respective year and lower outstanding debt balances on mortgages payable as a result of mortgage payoffs in 2018 and 2017.
Additionally, before we implemented hedge accounting in the fourth quarter of 2018, we adjusted the carrying value of our interest rate swaps to fair value each quarter through interest expense. Following the adoption of hedge accounting, we record this change in fair value within other comprehensive income.
At December 31, 2018, the weighted average interest rate on our:
•
Credit facility outstanding borrowings of $252.0 million was 3.2%;
•
Term loans outstanding of $570.0 million (excluding deferred financing costs of $1.4 million) was 3.3%;
•
Mortgages payable of $298.4 million (excluding net premiums totaling $4.4 million and deferred financing costs of $183,000 on these mortgages) was 5.1%;
•
Notes and bonds payable of $5.4 billion (excluding unamortized net original issuance premiums of $10.5 million and deferred financing costs of $33.7 million) was 4.0%; and
•
Combined outstanding notes, bonds, mortgages, term loan and credit facility borrowings of $6.5 billion was 4.0%.
In January 2019, we paid off the outstanding balance and interest on the $70.0 million senior unsecured term loan entered in January 2013 in conjunction with our acquisition of ARCT.
General and Administrative Expenses
General and administrative expenses increased during 2018 primarily due to a severance charge of $18.7 million for our former CEO who departed the company in October 2018, and higher corporate-level professional fees. General and administrative expenses in both 2018 and 2017 increased due to higher compensation costs related to higher headcount. In January 2019, we had 165 employees, as compared to 152 employees in January 2018, and 146 employees in January 2017.
Property Expenses (excluding reimbursable)
Property expenses (excluding reimbursable) consist of costs associated with unleased properties, non-net-leased properties and general portfolio expenses. Expenses related to unleased properties and non-net-leased properties include, but are not limited to, property taxes, maintenance, insurance, utilities, property inspections, bad debt expense and legal fees. General portfolio costs include, but are not limited to, insurance, legal, property inspections, and title search fees. At December 31, 2018, 80 properties were available for lease, as compared to 83 at December 31, 2017 and 84 at December 31, 2016.
The 2018 decrease in property expenses (excluding reimbursable) was primarily attributable to lower bad debt expense, while the 2017 increase was the result of higher property taxes and bad debt expense.
Property Expenses (reimbursable)
The increase in property expenses (reimbursable) in both 2018 and 2017 was primarily attributable to the increased portfolio size, which contributed to higher contractually obligated reimbursements from tenants for recoverable real estate taxes and operating expenses primarily due to our acquisitions in each year.
Income Taxes
Income taxes are for city and state income and franchise taxes paid by us and our subsidiaries. These taxes from operations increased from 2017 to 2018 due to acquisitions; however, the overall tax expense decreased due to a one-time charge in 2017 that increased tax expenses at the end of 2017. The Tax Cuts & Jobs Act, passed at the end of 2017, reduced the corporate tax rate, which reduced the value of the deferred tax assets in 2017 and increased our tax expense in 2017. The increase from 2016 to 2017 was primarily due to increased activity in our taxable REIT subsidiary.
Provisions for Impairment
In 2018, we recorded total provisions for impairment of $26.3 million on six properties classified as held for sale, three properties classified as held for investment, and 35 sold properties. In 2017, we recorded total provisions for impairment of $14.8 million on one property classified as held for sale, three properties classified as held for investment, and 22 sold properties. In 2016, we recorded total provisions for impairment of $20.7 million on one property classified as held for sale and 38 sold properties.
- 44-
Other Items
Gain on Sales of Real Estate
During 2018, we sold 128 properties for $142.3 million, which resulted in a gain of $24.6 million.
During 2017, we sold 59 properties for $167.0 million, which resulted in a gain of $40.9 million.
During 2016, we sold 77 properties for $90.5 million, which resulted in a gain of $22.0 million. Additionally, during 2016 we sold our former corporate headquarters building for $8.6 million.
At December 31, 2018, we classified real estate with a carrying amount of $16.6 million as held for sale on our balance sheet. In 2019, we intend to continue our active disposition efforts to further enhance our real estate portfolio and anticipate $75 to $100 million in yet to be identified property sales for all of 2019. We intend to invest these proceeds into new property acquisitions, if there are attractive opportunities available. However, we cannot guarantee that we will sell properties during the next 12 months at our estimated values or be able to invest the property sale proceeds in new properties.
Loss on Extinguishment of Debt
In December 2017, we completed the early redemption on all $550.0 million of outstanding 6.75% notes due August 2019, plus accrued and unpaid interest. As a result of the early redemption, we recognized a $42.4 million loss on extinguishment of debt, which represents $0.15 on a diluted per common share basis.
Preferred Stock Dividends
We did not pay any preferred stock dividends in 2018. Preferred stock dividends totaled $3.9 million in 2017. Additionally, in April 2017, we paid a final dividend on our Class F preferred stock of $1.7 million, which was recorded to interest expense. Preferred stock dividends totaled $27.1 million in 2016.
Excess of Redemption Value over Carrying Value of Preferred Shares Redeemed
When we issued the irrevocable notice of redemption on our Class F preferred stock in March 2017, we incurred a non-cash charge of $13.4 million for the excess of redemption value over the carrying value. The non-cash charge represents the Class F preferred stock original issuance cost that was paid in 2012.
Net Income Available to Common Stockholders
Net income available to common stockholders was $363.6 million in 2018, compared to $301.5 million in 2017, an increase of $62.1 million. On a diluted per common share basis, net income was $1.26 in 2018, as compared to $1.10 in 2017, an increase of $0.16, or 14.5%. Net income available to common stockholders was $288.5 million in 2016, or $1.13 on a diluted per common share basis.
Net income available to common stockholders in 2018 was impacted by a severance payment made to our former CEO in October 2018. The total value of cash, stock compensation and professional fees incurred as a result of this severance was $28.3 million; however, the net amount, after incorporating accruals for CEO compensation previous to this severance, was $18.7 million, equivalent to $0.06 per share.
The calculation to determine net income available to common stockholders includes impairments and gains from the sale of properties, which can vary from period to period based on the timing and significantly impact net income available to common stockholders.
Adjusted Earnings before Interest, Taxes, Depreciation and Amortization for Real Estate (Adjusted EBITDAre)
The National Association of Real Estate Investment Trust (NAREIT) came to the conclusion that a NAREIT-defined EBITDA metric for real estate companies (i.e., EBITDA for real estate, or EBITDAre) would provide investors with a consistent measure to help make investment decisions among REITs. We have re-labeled our Adjusted EBITDA to “Adjusted EBITDAre” in order to be consistent with the NAREIT definition, other than the one-time executive severance charge described below. We define Adjusted EBITDAre, a non-GAAP financial measure, for the most recent quarter, as earnings (net income) before (i) interest expense, including non-cash gain on swaps, (ii) income and franchise taxes, (iii) real estate depreciation and amortization, (iv) impairment losses, (v) gain on sales of real estate, and (vi) executive severance charge (as described in the Adjusted Funds from Operations section). Our Adjusted EBITDAre may not be comparable to Adjusted EBITDAre reported by other companies or as defined by
- 45-
NAREIT, and other companies may interpret or define Adjusted EBITDAre differently than we do. Management believes Adjusted EBITDAre to be a meaningful measure of a REIT’s performance because it is widely followed by industry analysts, lenders and investors. Management also believes the use of an annualized quarterly Adjusted EBITDAre metric is meaningful because it represents the company’s current earnings run rate for the period presented. The ratio of our total debt to our annualized quarterly Adjusted EBITDAre is also used to determine vesting of performance share awards granted to our executive officers. Adjusted EBITDAre should be considered along with, but not as an alternative to net income as a measure of our operating performance. Our ratio of debt to Adjusted EBITDAre, which is used by management as a measure of leverage, is calculated by annualizing quarterly Adjusted EBITDAre and then dividing by our total debt per the consolidated balance sheet.
(1) Interest expense includes a loss on extinguishment of debt of $42.4 million for the year ended December 31, 2017.
(2) Reflects an $18.7 million severance charge for our former CEO upon his departure in October 2018.
(3) We calculate Annualized Adjusted EBITDAre by multiplying the Quarterly Adjusted EBITDAre by four.
FUNDS FROM OPERATIONS AVAILABLE TO COMMON STOCKHOLDERS (FFO)
In 2018, our FFO increased by $130.6 million, or 16.9%, to $903.3 million, as compared to $772.7 million in 2017. On a diluted per common share basis, FFO was $3.12 in 2018, as compared to $2.82 in 2017, an increase of $0.30, or 10.6%. In 2016, FFO was $735.4 million, or $2.88 on a diluted per common share basis. Our FFO in 2018 was impacted by a severance payment made to our former CEO in October 2018. The total value of cash, stock compensation and professional fees incurred as a result of this severance was $28.3 million; however, the net amount, after incorporating accruals for CEO compensation previous to this severance, was $18.7 million, equivalent to $0.06 per share. Our FFO in 2017 was impacted by a loss of $42.4 million, or $0.15 per share, on extinguishment of debt upon the early redemption on all $550.0 million of our outstanding 6.75% notes due August 2019 during December 2017. FFO was also impacted by a non-cash redemption charge of $13.4 million, or $0.05 per share, upon the redemption of the 6.625% Monthly Income Class F Preferred Stock that was redeemed in April 2017. This charge is based on the excess of redemption value over the carrying value of the 6.625% Monthly Income Class F Preferred Stock that represents the original issuance cost that we paid in 2012. FFO for 2017 also includes the early redemption on all $550.0 million of our outstanding 6.75% notes due August 15, 2019, plus accrued and unpaid interest.
The following is a reconciliation of net income available to common stockholders (which we believe is the most comparable GAAP measure) to FFO. Also presented is information regarding distributions paid to common stockholders and the weighted average number of common shares used for the basic and diluted computation per share (dollars in thousands, except per share amounts):
- 46-
We define FFO, a non-GAAP measure, consistent with the National Association of Real Estate Investment Trust’s definition, as net income available to common stockholders, plus depreciation and amortization of real estate assets, plus impairments of depreciable real estate assets, and reduced by gains on property sales.
We consider FFO to be an appropriate supplemental measure of a REIT’s operating performance as it is based on a net income analysis of property portfolio performance that adds back items such as depreciation and impairments for FFO. The historical accounting convention used for real estate assets requires straight-line depreciation of buildings and improvements, which implies that the value of real estate assets diminishes predictably over time. Since real estate values historically rise and fall with market conditions, presentations of operating results for a REIT, using historical accounting for depreciation, could be less informative. The use of FFO is recommended by the REIT industry as a supplemental performance measure. In addition, FFO is used as a measure of our compliance with the financial covenants of our credit facility.
ADJUSTED FUNDS FROM OPERATIONS AVAILABLE TO COMMON STOCKHOLDERS (AFFO)
In 2018, our AFFO increased by $86.0 million, or 10.3%, to $924.6 million, as compared to $838.6 million in 2017. On a diluted per common share basis, AFFO was $3.19 in 2018, as compared to $3.06 in 2017, an increase of $0.13, or 4.2%. In 2016, AFFO was $736.4 million, or $2.88 on a diluted per common share basis. We consider AFFO to be an appropriate supplemental measure of our performance. Most companies in our industry use a similar measurement, but they may use the term “CAD” (for Cash Available for Distribution), “FAD” (for Funds Available for Distribution) or other terms.
- 47-
The following is a reconciliation of net income available to common stockholders (which we believe is the most comparable GAAP measure) to FFO and AFFO. Also presented is information regarding distributions paid to common stockholders and the weighted average number of common shares used for the basic and diluted computation per share (dollars in thousands, except per share amounts):
(1) See reconciling items for FFO presented under “Funds from Operations Available to Common Stockholders (FFO).”
(2) The executive severance charge represents the incremental costs incurred upon our former CEO's departure in October 2018 per the reconciliation below:
(3) Includes the amortization of costs incurred and capitalized upon issuance of our notes payable, assumption of our mortgages payable and upon issuance of our term loans. The deferred financing costs are being amortized over the lives of the respective mortgages and term loans. No costs associated with our credit facility agreements or annual fees paid to credit rating agencies have been included.
(4) Includes adjustments allocable to both non-controlling interests and capital lease obligations.
We believe the non-GAAP financial measure AFFO provides useful information to investors because it is a widely accepted industry measure of the operating performance of real estate companies that is used by industry analysts and investors who look at and compare those companies. In particular, AFFO provides an additional measure to compare the operating performance of different REITs without having to account for differing depreciation assumptions and other unique revenue and expense items which are not pertinent to measuring a particular company’s on-going operating performance. Therefore, we believe that AFFO is an appropriate supplemental performance metric, and that the most appropriate GAAP performance metric to which AFFO should be reconciled is net income available to common stockholders.
- 48-
Presentation of the information regarding FFO and AFFO is intended to assist the reader in comparing the operating performance of different REITs, although it should be noted that not all REITs calculate FFO and AFFO in the same way, so comparisons with other REITs may not be meaningful. Furthermore, FFO and AFFO are not necessarily indicative of cash flow available to fund cash needs and should not be considered as alternatives to net income as an indication of our performance. FFO and AFFO should not be considered as alternatives to reviewing our cash flows from operating, investing, and financing activities. In addition, FFO and AFFO should not be considered as measures of liquidity, our ability to make cash distributions, or our ability to pay interest payments.
IMPACT OF INFLATION
Tenant leases generally provide for limited increases in rent as a result of increases in the tenants’ sales volumes, increases in the consumer price index (typically subject to ceilings), or fixed increases. We expect that inflation will cause these lease provisions to result in rent increases over time. During times when inflation is greater than increases in rent, as provided for in the leases, rent increases may not keep up with the rate of inflation.
Moreover, our use of net lease agreements tends to reduce our exposure to rising property expenses due to inflation because the tenant is responsible for property expenses. Inflation and increased costs may have an adverse impact on our tenants if increases in their operating expenses exceed increases in revenue.
IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS
For information on the impact of recent accounting pronouncements on our business, see note 2 of the Notes to the Consolidated Financial Statements.

---

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Item 7A: Quantitative and Qualitative Disclosures about Market Risk
We are exposed to interest rate changes primarily as a result of our credit facility, term loans, mortgages payable, and long-term notes and bonds used to maintain liquidity and expand our real estate investment portfolio and operations. Our interest rate risk management objective is to limit the impact of interest rate changes on earnings and cash flow and to lower our overall borrowing costs. To achieve these objectives we issue long-term notes and bonds, primarily at fixed rates.
In order to mitigate and manage the effects of interest rate risks on our operations, we may utilize a variety of financial instruments, including interest rate swaps and caps. The use of these types of instruments to hedge our exposure to changes in interest rates carries additional risks, including counterparty credit risk, the enforceability of hedging contracts and the risk that unanticipated and significant changes in interest rates will cause a significant loss of basis in the contract. To limit counterparty credit risk we will seek to enter into such agreements with major financial institutions with favorable credit ratings. There can be no assurance that we will be able to adequately protect against the foregoing risks or realize an economic benefit that exceeds the related amounts incurred in connection with engaging in such hedging activities. We do not enter into any derivative transactions for speculative or trading purposes.
The following table presents by year of expected maturity, the principal amounts, average interest rates and estimated fair values of our fixed and variable rate debt as of December 31, 2018. This information is presented to evaluate the expected cash flows and sensitivity to interest rate changes (dollars in millions):
- 49-
Expected Maturity Data
(1) Excludes net premiums recorded on mortgages payable, net original issuance premiums recorded on notes payable and deferred financing costs on mortgages payable, notes payable, and term loans. At December 31, 2018, the unamortized balance of net premiums on mortgages payable is $4.4 million, the unamortized balance of net original issuance premiums on notes payable is $10.5 million, and the balance of deferred financing costs on mortgages payable is $183,000, on notes payable is $33.7 million, and on term loans is $1.4 million.
(2) We base the estimated fair value of the fixed rate senior notes and bonds at December 31, 2018 on the indicative market prices and recent trading activity of our senior notes and bonds payable. We base the estimated fair value of our fixed rate and variable rate mortgages at December 31, 2018 on the relevant forward interest rate curve, plus an applicable credit-adjusted spread. We believe that the carrying value of the credit facility balance and term loans balance reasonably approximate their estimated fair values at December 31, 2018.
The table incorporates only those exposures that exist as of December 31, 2018. It does not consider those exposures or positions that could arise after that date. As a result, our ultimate realized gain or loss, with respect to interest rate fluctuations, would depend on the exposures that arise during the period, our hedging strategies at the time, and interest rates.
All of our outstanding notes and bonds have fixed interest rates. All of our mortgages payable, except two mortgages with principal balances totaling $23.3 million at December 31, 2018 have fixed interest rates. After factoring in arrangements that limit our exposure to interest rate risk and effectively fix our per annum interest rates, our mortgage debt subject to variable rates totals $16.0 million at December 31, 2018. Interest on our credit facility and term loan balances is variable. However, the variable interest rate feature on our term loans has been mitigated by interest rate swap agreements. Based on our credit facility balance of $252.0 million at December 31, 2018, a 1% change in interest rates would change our interest rate costs by $2.5 million per year.

---

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Item 8: Financial Statements and Supplementary Data
A.
Reports of Independent Registered Public Accounting Firm
B.
Consolidated Balance Sheets, December 31, 2018 and 2017
C.
Consolidated Statements of Income and Comprehensive Income, Years ended December 31, 2018, 2017 and 2016
D.
Consolidated Statements of Equity, Years ended December 31, 2018, 2017 and 2016
E.
Consolidated Statements of Cash Flows, Years ended December 31, 2018, 2017 and 2016
F.
Notes to Consolidated Financial Statements
G.
Consolidated Quarterly Financial Data (unaudited) for 2018 and 2017
H.
Schedule III Real Estate and Accumulated Depreciation
Schedules not filed: All schedules, other than that indicated in the Table of Contents, have been omitted as the required information is either not material, inapplicable or the information is presented in the financial statements or related notes.
- 50-
Report of Independent Registered Public Accounting Firm
To the Stockholders and Board of Directors
Realty Income Corporation:
Opinion on the Consolidated Financial Statements
We have audited the accompanying consolidated balance sheets of Realty Income Corporation and subsidiaries (the Company) as of December 31, 2018 and 2017, the related consolidated statements of income and comprehensive income, equity, and cash flows for each of the years in the three-year period ended December 31, 2018, and the related notes and financial statement schedule III (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2018 and 2017, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2018, in conformity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2018, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission, and our report dated February 21, 2019 expressed an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting.
Basis for Opinion
These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.
(signed) KPMG LLP
We have served as the Company’s auditor since 1993.
San Diego, California
February 21, 2019
- 51-
Report of Independent Registered Public Accounting Firm
To the Stockholders and Board of Directors
Realty Income Corporation:
Opinion on Internal Control Over Financial Reporting
We have audited Realty Income Corporation and subsidiaries’ (the Company) internal control over financial reporting as of December 31, 2018, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2018, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheets of the Company as of December 31, 2018 and 2017, the related consolidated statements of income and comprehensive income, equity, and cash flows for each of the years in the three-year period ended December 31, 2018, and the related notes and financial statement schedule III (collectively, the consolidated financial statements), and our report dated February 21, 2019 expressed an unqualified opinion on those consolidated financial statements.
Basis for Opinion
The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Report on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.
Definition and Limitations of Internal Control Over Financial Reporting
A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
(signed) KPMG LLP
San Diego, California
February 21, 2019
- 52-
REALTY INCOME CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
December 31, 2018 and 2017
(dollars in thousands, except per share data)
The accompanying notes to consolidated financial statements are an integral part of these statements.
- 53-
REALTY INCOME CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Years Ended December 31, 2018, 2017 and 2016
(dollars in thousands, except per share data)
The accompanying notes to consolidated financial statements are an integral part of these statements.
- 54-
REALTY INCOME CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EQUITY
Years Ended December 31, 2018, 2017 and 2016
(dollars in thousands)
The accompanying notes to consolidated financial statements are an integral part of these statements.
- 55-
REALTY INCOME CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years Ended December 31, 2018, 2017 and 2016
(dollars in thousands)
For supplemental disclosures, see note 16.
The accompanying notes to consolidated financial statements are an integral part of these statements.
- 56-
REALTY INCOME CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2018, 2017, and 2016
1. Organization and Operation
Realty Income Corporation (“Realty Income,” the “Company,” “we,” “our” or “us”) is organized as a Maryland corporation. We invest in commercial real estate and have elected to be taxed as a real estate investment trust, or REIT.
At December 31, 2018, we owned 5,797 properties, located in 49 states and Puerto Rico, containing over 93.3 million leasable square feet.
Information with respect to number of properties, square feet, average initial lease term and weighted average contractual lease rate is unaudited.
2. Summary of Significant Accounting Policies and Procedures and Recent Accounting Pronouncements
Federal Income Taxes. We have elected to be taxed as a REIT, as defined above, under the Internal Revenue Code of 1986, as amended, or the Code. We believe we have qualified and continue to qualify as a REIT. Under the REIT operating structure, we are permitted to deduct dividends paid to our stockholders in determining our taxable income. Assuming our dividends equal or exceed our taxable net income, we generally will not be required to pay federal corporate income taxes on such income. Accordingly, no provision has been made for federal income taxes in the accompanying consolidated financial statements, except for federal income taxes of our taxable REIT subsidiaries. The income taxes recorded on our consolidated statements of income and comprehensive income represent amounts paid by Realty Income and its subsidiaries for city and state income and franchise taxes.
Earnings and profits that determine the taxability of distributions to stockholders differ from net income reported for financial reporting purposes due to differences in the estimated useful lives and methods used to compute depreciation and the carrying value (basis) of the investments in properties for tax purposes, among other things.
We regularly analyze our various federal and state filing positions and only recognize the income tax effect in our financial statements when certain criteria regarding uncertain income tax positions have been met. We believe that our income tax positions would more likely than not be sustained upon examination by all relevant taxing authorities. Therefore, no provisions for uncertain income tax positions have been recorded in our financial statements.
Net Income per Common Share. Basic net income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted net income per common share is computed by dividing net income available to common stockholders, plus income attributable to dilutive shares and convertible common units, for the period by the weighted average number of common shares that would have been outstanding assuming the issuance of common shares for all potentially dilutive common shares outstanding during the reporting period.
The following is a reconciliation of the denominator of the basic net income per common share computation to the denominator of the diluted net income per common share computation.
- 57-
Revenue Recognition and Accounts Receivable. The majority of our leases are accounted for as operating leases. Under this method, leases that have fixed and determinable rent increases are recognized on a straight-line basis over the lease term. Any rental revenue contingent upon a tenant’s sales is recognized only after the tenant exceeds their sales breakpoint. Rental increases based upon changes in the consumer price indexes are recognized only after the changes in the indexes have occurred and are then applied according to the lease agreements. Contractually obligated reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursements in the period when such costs are incurred.
Other revenue, which comprises property-related revenue not included in rental revenue or tenant reimbursements, was $6.3 million in 2018, $3.5 million in 2017 and $2.7 million in 2016.
Principles of Consolidation. The accompanying consolidated financial statements include the accounts of Realty Income and other subsidiaries for which we make operating and financial decisions (i.e. control), after elimination of all material intercompany balances and transactions. We consolidate entities that we control and record a noncontrolling interest for the portion that we do not own. Noncontrolling interest that was created or assumed as part of a business combination was recognized at fair value as of the date of the transaction (see note 11). We have no unconsolidated investments.
Cash Equivalents and Restricted Cash. We consider all short-term, highly liquid investments that are readily convertible to cash and have an original maturity of three months or less at the time of purchase to be cash equivalents. Our cash equivalents are primarily investments in United States government money market funds. Restricted cash includes cash proceeds from the sale of assets held by qualified intermediaries in anticipation of the acquisition of replacement properties in tax-free exchanges under Section 1031 of the Code, impounds related to mortgages payable and cash that is not immediately available to Realty Income (i.e. escrow deposits for future acquisitions).
Cash accounts maintained on behalf of Realty Income in demand deposits at commercial banks and money market funds may exceed federally insured levels or may be held in accounts without any federal insurance or any other insurance or guarantee. However, Realty Income has not experienced any losses in such accounts.
Gain on Sales of Properties. When real estate is sold, the related net book value of the applicable assets is removed and a gain from the sale is recognized in our consolidated statements of income and comprehensive income. We record a gain from the sale of real estate provided that various criteria, relating to the terms of the sale and any subsequent involvement by us with the real estate, have been met.
Allocation of the Purchase Price of Real Estate Acquisitions. A majority of our acquisitions qualify as asset acquisitions and the transaction costs associated with those acquisitions are capitalized. When acquiring a property for investment purposes, we typically allocate the cost of real estate acquired, inclusive of transaction costs, to: (1) land, (2) building and improvements, and (3) identified intangible assets and liabilities, based in each case on their relative estimated fair values. Intangible assets and liabilities consist of above-market or below-market lease value of in-place leases and the value of in-place leases, as applicable. In an acquisition of multiple properties, we must also allocate the purchase price among the properties. The allocation of the purchase price is based on our assessment of estimated fair value and is often based upon the expected future cash flows of the property and various characteristics of the markets where the property is located. In addition, any assumed mortgages receivable or payable are recorded at their estimated fair values. The estimated fair values of our mortgages payable have been calculated by discounting the future cash flows using applicable interest rates that have been adjusted for factors, such as industry type, tenant investment grade, maturity date, and comparable borrowings for similar assets. The use of different assumptions in the allocation of the purchase price of the acquired properties and liabilities assumed could affect the timing of recognition of the related revenue and expenses.
Our estimated fair value determinations are based on management’s judgment, utilizing various factors, including: (1) market conditions, (2) industry that the tenant operates in, (3) characteristics of the real estate, i.e.: location, size, demographics, value and comparative rental rates, (4) tenant credit profile, (5) store profitability and the importance of the location of the real estate to the operations of the tenant’s business, and/or (6) real estate valuations, prepared internally by our real estate research department or, in certain circumstances, by an independent valuation firm. Our methodologies for measuring fair value related to the allocation of the purchase price of real estate acquisitions include both observable market data (and thus should be categorized as level 2 on the Financial Accounting Standards Board, or FASB’s, three-level valuation hierarchy) and unobservable inputs that
- 58-
reflect our own internal assumptions and calculations (and thus should be categorized as level 3 on FASB’s three-level valuation hierarchy).
The fair value of the tangible assets of an acquired property with an in-place operating lease (which includes land and buildings/improvements) is determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land and buildings/improvements based on our determination of the fair value of these assets. Our fair value determinations are based primarily on internally prepared real estate valuations for each property, and consider estimates of carrying costs during the expected lease-up periods, current market conditions, as well as costs to execute similar leases. In allocating the fair value to identified intangibles for above-market or below-market leases, an amount is recorded based on the present value of the difference between (i) the contractual amount to be paid pursuant to the in-place lease and (ii) our estimate of fair market lease rate for the corresponding in-place lease, measured over the remaining term of the lease.
The values of the above-market and below-market leases are amortized over the term of the respective leases, including any bargain renewal options, as an adjustment to rental revenue on our consolidated statements of income and comprehensive income. The value of in-place leases, exclusive of the value of above-market and below-market in-place leases, is amortized to depreciation and amortization expense over the remaining periods of the respective leases. If a lease is terminated prior to its stated expiration, all unamortized amounts relating to that lease are recorded to revenue or expense as appropriate.
In allocating the fair value to assumed mortgages, amounts are recorded to debt premiums or discounts based on the present value of the estimated cash flows, which is calculated to account for either above or below-market interest rates. Our assumed net debt premiums are amortized as a reduction to interest expense over the remaining term of the respective mortgages.
In allocating noncontrolling interests, amounts are recorded based on the proportional share of equity issued or contributions made at the date of acquisition, as determined by the terms of the applicable agreement.
Depreciation and Amortization. Land, buildings and improvements are recorded and stated at cost. Major replacements and betterments, which improve or extend the life of the asset, are capitalized and depreciated over their estimated useful lives, while ordinary repairs and maintenance are expensed as incurred. Buildings and improvements that are under redevelopment, or are being developed, are carried at cost and no depreciation is recorded on these assets. Additionally, amounts essential to the development of the property, such as pre-construction, development, construction, interest and other costs incurred during the period of development are capitalized. We cease capitalization when the property is available for occupancy upon substantial completion of tenant improvements, but in any event no later than one year from the completion of major construction activity.
Properties are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows:
Buildings
25 years or 35 years
Building improvements
4 to 20 years
Tenant improvements and lease commissions
The shorter of the term of the related lease or useful life
Acquired in-place leases
Remaining terms of the respective leases
Provision for Impairment. We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. A provision is made for impairment if estimated future operating cash flows (undiscounted and without interest charges) plus estimated disposition proceeds (undiscounted) are less than the current book value of the property. Key factors that we utilize in this analysis include projected rental rates, estimated holding periods, historical sales and re-leases, capital expenditures and property sales capitalization rates. If a property is classified as held for sale, it is carried at the lower of carrying cost or estimated fair value, less estimated cost to sell, and depreciation of the property ceases.
If a property was previously reclassified as held for sale but the applicable criteria for this classification are no longer met, the property is reclassified to real estate held for investment. A property that is reclassified to held for investment is measured and recorded at the lower of (i) its carrying amount before the property was classified as
- 59-
held for sale, adjusted for any depreciation expense that would have been recognized had the property been continuously classified as held for investment, or (ii) the fair value at the date of the subsequent decision not to sell.
Seventeen properties were classified as held for sale at December 31, 2018. We do not depreciate properties that are classified as held for sale.
In 2018, we recorded total provisions for impairment of $26.3 million on six properties classified as held for sale, three properties classified as held for investment, and 35 sold properties. In 2017, we recorded total provisions for impairment of $14.8 million on one property classified as held for sale, three properties classified as held for investment, and 22 sold properties. In 2016, we recorded total provisions for impairment of $20.7 million on one property classified as held for sale and 38 sold properties.
Goodwill. We assign a portion of our goodwill to our applicable property sales, which results in a reduction of the carrying amount of our goodwill. In order to allocate goodwill to the carrying amount of properties that we sell, we utilize a relative fair value approach based on the original methodology for assigning goodwill. Goodwill is tested for impairment during the second quarter of each year as well as when events or circumstances occur indicating that our goodwill might be impaired. Based on our analysis of goodwill during the second quarters of 2018, 2017 and 2016, we determined, that the fair values of our reporting units were not more likely than not to be less than their respective carrying amounts and no impairment was recorded on our existing goodwill during 2018, 2017 and 2016.
Equity Offering Costs. Underwriting commissions and offering costs have been reflected as a reduction of additional paid-in-capital on our consolidated balance sheets.
Noncontrolling Interests. Noncontrolling interests are reflected on our consolidated balance sheets as a component of equity. Noncontrolling interests acquired prior to our adoption of ASU 2017-1, were recorded initially at fair value based on the price of the applicable units issued or contributions made, and subsequently adjusted each period for distributions, additional contributions and the allocation of net income attributable to the noncontrolling interests. Noncontrolling interests issued or assumed subsequent to our adoption of ASU 2017-01 on October 1, 2017, were recorded based on the proportional share of equity in the entity.
Derivative and Hedging Activities. We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or we elect not to apply hedge accounting.
As of December 31, 2018 we had three interest rate swaps in place, including one on each of our $250.0 million unsecured term loans and the third on an assumed mortgage loan. Our objective in using derivatives is to add stability to interest expense and to manage our exposure to interest rate movements. In October 2018, we designated these three interest rate swaps as hedges and adopted hedge accounting treatment in accordance with Topic 815, "Derivatives and Hedging." From the adoption date through the end of 2018, the effective portion of gains or losses on our interest rate swaps were recorded in accumulated other comprehensive loss on our consolidated balance sheet as of December 31, 2018, instead of through interest expense on our consolidated statements of income and comprehensive income.
Use of Estimates. The consolidated financial statements were prepared in conformity with U.S. generally accepted accounting principles, or GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Pronouncements. In May 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-9, Revenue from Contracts with Customers. This ASU, as amended by ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, outlines a comprehensive model for companies to use in accounting for revenue arising from contracts with customers, and will apply to transactions such as the sale of real estate. This ASU, which is effective for interim and annual periods beginning after December 15, 2017, requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also
- 60-
to provide certain additional disclosures. We adopted this standard effective as of January 1, 2018 and utilized the cumulative effect transition method of adoption. The adoption of this guidance did not have a material impact on our financial position or results of operations.
In February 2016, the FASB issued ASU 2016-2 (Topic 842, Leases), which amended Topic 840, Leases. Under this amended topic, the accounting applied by a lessor is largely unchanged from that applied under Topic 840, Leases. The large majority of operating leases should remain classified as operating leases, and lessors should continue to recognize lease income for those leases on a generally straight-line basis over the lease term. Although primarily a lessor, we are also a lessee under several ground lease arrangements. Upon adoption, we will recognize lease obligations for ground leases with a corresponding right of use asset. We expect our right of use asset to be approximately 1% percent of our total assets upon adoption. The amendments included in this topic are effective, for interim and annual periods beginning after December 15, 2018. We adopted this standard when it becomes effective as of January 1, 2019, and we elected the practical expedients available for implementation under the standard.
In August 2017, the FASB issued ASU 2017-12, which amended Topic 815, Derivatives and Hedging. The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The transition guidance provides companies with the option of early adopting the new standard using a modified retrospective transition method in any interim period after issuance of the update, or alternatively requires adoption for fiscal years beginning after December 15, 2018. We early adopted this standard effective as of October 24, 2018, and it did not have a material impact on our consolidated financial statements.
3. Supplemental Detail for Certain Components of Consolidated Balance Sheets (dollars in thousands):
- 61-
4. Investments in Real Estate
We acquire land, buildings and improvements necessary for the successful operations of commercial tenants.
A. Acquisitions during 2018 and 2017
During 2018, we invested $1.8 billion in 764 new properties and properties under development or expansion with an initial weighted average contractual lease rate of 6.4%. The 764 new properties and properties under development or expansion are located in 39 states, will contain approximately 5.2 million leasable square feet, and are 100% leased with a weighted average lease term of 14.8 years. The tenants occupying the new properties operate in 21 industries and the property types consist of 96.3% retail and 3.7% industrial, based on rental revenue. None of our investments during 2018 caused any one tenant to be 10% or more of our total assets at December 31, 2018.
The $1.8 billion invested during 2018 was allocated as follows: $657.9 million to land, $1.0 billion to buildings and improvements, $135.2 million to intangible assets related to leases, and $35.8 million to intangible liabilities related to leases and other assumed liabilities. There was no contingent consideration associated with these acquisitions.
The properties acquired during 2018 generated total revenues of $57.3 million and net income of $30.9 million during the year ended December 31, 2018.
In comparison, during 2017, we invested $1.52 billion in 303 new properties and properties under development or expansion with an initial weighted average contractual lease rate of 6.4%. The 303 new properties and properties under development or expansion were located in 40 states, contained approximately 7.8 million leasable square feet, and were 100% leased with a weighted average lease term of 14.4 years. The tenants occupying the new properties operated in 23 industries and the property types consisted of 94.5% retail and 5.5% industrial, based on rental revenue.
The $1.52 billion invested during 2017 was allocated as follows: $365.0 million to land, $955.2 million to buildings and improvements, $246.3 million to intangible assets related to leases, and $47.0 million to intangible liabilities related to leases and other assumed liabilities. There was no contingent consideration associated with these acquisitions.
The properties acquired during 2017 generated total revenues of $37.1 million and net income of $17.9 million during the year ended December 31, 2017.
The initial weighted average contractual lease rate for a property is generally computed as estimated contractual first year cash net operating income, which, in the case of a net leased property, is equal to the aggregate cash base rent for the first full year of each lease, divided by the total cost of the property. Since it is possible that a
- 62-
tenant could default on the payment of contractual rent, we cannot provide assurance that the actual return on the funds invested will remain at the percentages listed above.
In the case of a property under development or expansion, the contractual lease rate is generally fixed such that rent varies based on the actual total investment in order to provide a fixed rate of return. When the lease does not provide for a fixed rate of return on a property under development or expansion, the initial weighted average contractual lease rate is computed as follows: estimated cash net operating income (determined by the lease) for the first full year of each lease, divided by our projected total investment in the property, including land, construction and capitalized interest costs. Of the $1.8 billion we invested during 2018, $80.3 million was invested in 14 properties under development or expansion with an initial weighted average contractual lease rate of 6.9%. Of the $1.52 billion we invested during 2017, $21.2 million was invested in 17 properties under development or expansion with an initial weighted average contractual lease rate of 6.9%.
B. Investments in Existing Properties
During 2018, we capitalized costs of $17.9 million on existing properties in our portfolio, consisting of $3.9 million for re-leasing costs, $1.1 million for recurring capital expenditures and $12.9 million for non-recurring building improvements. In comparison, during 2017, we capitalized costs of $12.7 million on existing properties in our portfolio, consisting of $1.6 million for re-leasing costs, $912,000 for recurring capital expenditures and $10.2 million for non-recurring building improvements.
C. Properties with Existing Leases
Of the $1.8 billion we invested during 2018, approximately $425.5 million was used to acquire 205 properties with existing leases. In comparison, of the $1.52 billion we invested during 2017, approximately $1.1 billion was used to acquire 178 properties with existing leases. The value of the in-place and above-market leases is recorded to lease intangible assets, net on our consolidated balance sheets, and the value of the below-market leases is recorded to lease intangible liabilities, net on our consolidated balance sheets.
The values of the in-place leases are amortized as depreciation and amortization expense. The amounts amortized to expense for all of our in-place leases, for 2018, 2017, and 2016 were $106.6 million, $104.8 million, and $94.0 million, respectively.
The values of the above-market and below-market leases are amortized over the term of the respective leases, including any bargain renewal options, as an adjustment to rental revenue on our consolidated statements of income and comprehensive income. The amounts amortized as a net decrease to rental revenue for capitalized above-market and below-market leases for 2018, 2017, and 2016 were $16.9 million, $14.0 million, and $9.3 million, respectively. If a lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be recorded to revenue or expense as appropriate.
The following table presents the estimated impact during the next five years and thereafter related to the amortization of the above-market and below-market lease intangibles and the amortization of the in-place lease intangibles at December 31, 2018 (in thousands):
5. Credit Facility
In October 2018, we entered into a new $3.25 billion unsecured credit facility to replace our previous $2.25 billion unsecured credit facility, of which $2.0 billion was due to expire in June 2019. This new credit facility includes a $3.0 billion unsecured revolving credit facility and a new $250.0 million unsecured term loan due March 2024. The new revolving credit facility, or our revolving credit facility, matures in March 2023 and includes two six-month
- 63-
extensions. Our revolving credit facility also has a $1.0 billion expansion feature. Under our revolving credit facility, our investment grade credit ratings as of December 31, 2018 provide for financing at LIBOR plus 0.775% with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.90% over LIBOR. The borrowing rate is subject to an interest rate floor and may change if our investment grade credit ratings were to change. We also have other interest rate options available to us under our revolving credit facility. Our revolving credit facility is unsecured and, accordingly, we have not pledged any assets as collateral for this obligation.
At December 31, 2018, credit facility origination costs of $14.2 million are included in other assets, net on our consolidated balance sheet. This balance includes $12.9 million of new credit facility origination costs incurred during 2018 as a result of entering into our new revolving credit facility. These costs are being amortized over the remaining term of our revolving credit facility.
At December 31, 2018, we had a borrowing capacity of $2.75 billion available on our revolving credit facility (subject to customary conditions to borrowing) and an outstanding balance of $252.0 million, as compared to an outstanding balance of $110.0 million at December 31, 2017.
The weighted average interest rate on outstanding borrowings under our revolving credit facility was 2.9% during 2018 and 2.0% during 2017. At December 31, 2018 and 2017, the weighted average interest rate on borrowings outstanding was 3.2% and 4.5%, respectively. Our credit facility is subject to various leverage and interest coverage ratio limitations, and at December 31, 2018, we were in compliance with the covenants on our credit facility.
6. Term Loans
In October 2018, in conjunction with our revolving credit facility, we entered into a new $250.0 million senior unsecured term loan, which matures in March 2024. Borrowing under this term loan bears interest at the current one-month LIBOR, plus 0.85%. In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest on this term loan at 3.89%.
In December 2017, in conjunction with the acquisition of a portfolio of properties, we entered into a $125.9 million promissory note, which was paid in full at maturity in January 2018. Borrowings under this note bore interest at 1.52%.
In June 2015, in conjunction with entering into our previous credit facility, we entered into a $250.0 million senior unsecured term loan maturing in June 2020. Borrowing under this term loan bears interest at the current one-month LIBOR, plus 0.90%. In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.62%.
In January 2013, in conjunction with our acquisition of American Realty Capital Trust, Inc., or ARCT, we entered into a $70.0 million senior unsecured term loan with an initial maturity date of January 2018. Borrowing under this term loan bore interest at the current one-month LIBOR, plus 1.10%. In conjunction with this term loan, we also entered into an interest rate swap, which, until its termination in January 2018, effectively fixed our per annum interest rate on this term loan at 2.05%. In 2018, we entered into two separate six-month extensions of this loan, during which periods the interest was born at the current one-month LIBOR, plus 0.90%. In January 2019, we paid off the outstanding principal and interest on this term loan (see note 21).
Deferred financing costs of $1.2 million incurred in conjunction with the $250.0 million term loan maturing June 2020, $1.1 million incurred in conjunction with the $250.0 million term loan maturing March 2024 and $410,000 incurred in conjunction with the $70.0 million term loan are being amortized over the remaining terms of each respective term loan. The net balance of these deferred financing costs, which was $1.4 million at December 31, 2018 and $580,000 at December 31, 2017, is included within term loans, net on our consolidated balance sheets.
7. Mortgages Payable
During 2018, we made $21.9 million in principal payments, including the repayment of two mortgages in full for $17.0 million. During 2017, we made $139.7 million in principal payments, including the repayment of eight mortgages in full for $133.5 million. No mortgages were assumed during 2018 or 2017. Assumed mortgages are secured by the properties on which the debt was placed and are considered non-recourse debt with limited customary exceptions for items such as solvency, bankruptcy, misrepresentation, fraud, misapplication of
- 64-
payments, environmental liabilities, failure to pay taxes, insurance premiums, liens on the property, violations of the single purpose entity requirements, and uninsured losses.
Our mortgages contain customary covenants, such as limiting our ability to further mortgage each applicable property or to discontinue insurance coverage without the prior consent of the lender. At December 31, 2018, we were in compliance with these covenants.
The balance of our deferred financing costs, which are classified as part of mortgages payable, net, on our consolidated balance sheets, was $183,000 at December 31, 2018 and $236,000 at December 31, 2017. These costs are being amortized over the remaining term of each mortgage.
The following is a summary of all our mortgages payable as of December 31, 2018 and 2017, respectively (dollars in thousands):
As Of
Number of
Properties(1)
Weighted Average
Stated
Interest Rate(2)
Weighted Average
Effective Interest
Rate(3)
Weighted
Average
Remaining
Years Until
Maturity
Remaining
Principal
Balance
Unamortized
Premium
and Deferred
Finance Costs
Balance, net
Mortgage
Payable
Balance
12/31/2018
5.1
%
4.6
%
3.2
$
298,377
$
4,192
$
302,569
12/31/2017
5.0
%
4.4
%
4.0
$
320,283
$
5,658
$
325,941
(1) At December 31, 2018, there were 26 mortgages on 60 properties, while at December 31, 2017, there were 28 mortgages on 62 properties. The mortgages require monthly payments with principal payments due at maturity. The mortgages are at fixed interest rates, except for two mortgages on two properties with a principal balance totaling $23.3 million at December 31, 2018, and three mortgages on three properties with a principal balance totaling $29.9 million at December 31, 2017. After factoring in arrangements which limit our exposure to interest rate risk and effectively fix our per annum interest rates, our mortgage debt subject to variable rates totals $16.0 million at December 31, 2018 and $22.4 million at December 31, 2017.
(2) Stated interest rates ranged from 3.8% to 6.9% at December 31, 2018, while stated interest rates ranged from 3.4% to 6.9% at December 31, 2017.
(3) Effective interest rates ranged from 1.1% to 7.7% at December 31, 2018, while effective interest rates ranged from 2.6% to 5.5% at December 31, 2017.
The following table summarizes the maturity of mortgages payable, excluding net premiums of $4.4 million and deferred financing costs of $183,000, as of December 31, 2018 (dollars in millions):
- 65-
8. Notes Payable
A. General
Our senior unsecured notes and bonds consist of the following, sorted by maturity date (dollars in millions):
The following table summarizes the maturity of our notes and bonds payable as of December 31, 2018, excluding unamortized net original issuance premiums and deferred financing costs (dollars in millions):
As of December 31, 2018, the weighted average interest rate on our notes and bonds payable was 4.0% and the weighted average remaining years until maturity was 8.7 years.
Interest incurred on all of the notes and bonds was $213.8 million for 2018, $197.1 million for 2017 and $171.5 million for 2016. The interest rate on each of these notes and bonds is fixed.
Our outstanding notes and bonds are unsecured; accordingly, we have not pledged any assets as collateral for these or any other obligations. Interest on all of the senior note and bond obligations is paid semiannually.
All of these notes and bonds contain various covenants, including: (i) a limitation on incurrence of any debt which would cause our debt to total adjusted assets ratio to exceed 60%; (ii) a limitation on incurrence of any secured debt which would cause our secured debt to total adjusted assets ratio to exceed 40%; (iii) a limitation on incurrence of any debt which would cause our debt service coverage ratio to be less than 1.5 times; and (iv) the maintenance at all times of total unencumbered assets not less than 150% of our outstanding unsecured debt. At December 31, 2018, we were in compliance with these covenants.
- 66-
B. Note Issuances
During the three year period ended December 31, 2018 we issued the following notes and bonds (dollars in millions):
(1) This issuance constituted a further issuance of, and formed a single series with the senior notes due 2026 issued in September 2014.
(2) This issuance constituted a further issuance of, and formed a single series with the senior notes due 2022 issued in October 2012.
(3) This issuance constituted a further issuance of, and formed a single series with the senior notes due 2047 issued in March 2017.
The net proceeds of approximately $493.1 million from the April 2018 note offering were used to repay borrowings outstanding under our credit facility, to fund investment opportunities, and for other general corporate purposes.
The net proceeds of $1.3 billion from the December 2017 note offerings were used to redeem all $550.0 million aggregate principal amount of our outstanding 2019 notes, including accrued and unpaid interest, and to repay borrowings outstanding under our revolving credit facility and, to the extent not used for those purposes, to fund the development and acquisitions of additional properties and for other general corporate purposes. The net proceeds of $705.2 million from the March 2017 note offerings were used to repay borrowings outstanding under our credit facility, to fund investment opportunities and for other general corporate purposes.
The net proceeds of approximately $586.7 million from the October 2016 offering were used to repay borrowings outstanding under our credit facility.
C. Note Repayment
In January 2018, we repaid our $350.0 million of outstanding 2.000% notes, plus accrued and unpaid interest upon maturity.
In December 2017, we completed the early redemption on all $550.0 million of outstanding 6.75% notes due August 2019, plus accrued and unpaid interest. As a result of the early redemption, we recognized a $42.4 million loss on extinguishment of debt, which represents $0.15 on a diluted per common share basis.
In September 2017, we repaid our $175.0 million of outstanding 5.375% notes, plus accrued and unpaid interest upon maturity.
In September 2016, we repaid all $275.0 million of outstanding 5.950% notes, plus accrued and unpaid interest upon maturity.
9. Issuances of Common Stock
A. Issuance of Common Stock in an Overnight Offering
We did not issue any shares in an overnight offering in 2018. In March 2017, we issued 11,850,000 shares of common stock in an overnight offering. After underwriting discounts and other offering costs of $29.8 million, the net proceeds of $704.9 million were used to repay borrowings under our credit facility.
In May 2016, we issued 6,500,000 shares of common stock in an overnight offering. After underwriting discounts and other offering costs of $12.1 million, the net proceeds of $383.6 million were used to repay borrowings under our credit facility.
- 67-
B. Dividend Reinvestment and Stock Purchase Plan
Our Dividend Reinvestment and Stock Purchase Plan, or our DRSPP, provides our common stockholders, as well as new investors, with a convenient and economical method of purchasing our common stock and reinvesting their distributions. Our DRSPP also allows our current stockholders to buy additional shares of common stock by reinvesting all or a portion of their distributions. Our DRSPP authorizes up to 26,000,000 common shares to be issued. During 2018, we issued 166,268 shares and raised approximately $9.1 million under our DRSPP. During 2017, we issued 1,193,653 shares and raised approximately $69.9 million under our DRSPP. From the inception of our DRSPP through December 31, 2018, we have issued 14,229,810 shares and raised $670.9 million.
Our DRSPP includes a waiver approval process, allowing larger investors or institutions, per a formal approval process, to purchase shares at a small discount, if approved by us. We did not issue shares under the waiver approval process during 2018. During 2017, we issued 927,695 shares and raised $54.7 million under the waiver approval process. These shares are included in the total activity for 2017 noted in the preceding paragraph.
C. At-the-Market (ATM) Programs
In November 2018, following the issuance and sale of 25,038,145 shares under our prior ATM equity distribution plans, or our prior ATM programs, we established a new ATM equity distribution plan, or our new ATM program, pursuant to which up to 28,961,855 additional shares of common stock may be offered and sold (1) by us to, or through, a consortium of banks acting as our sales agents or (2) by a consortium of banks acting as forward sellers on behalf of any forward purchasers contemplated thereunder, in each case by means of ordinary brokers' transactions on the NYSE at prevailing market prices or at negotiated prices. During 2018, we issued 19,138,610 shares and raised gross proceeds of $1.1 billion under our new and prior ATM programs. During 2017, we issued 10,914,088 shares and raised gross proceeds of $621.7 million under our prior ATM programs. From the inception of our new and prior ATM programs through December 31, 2018, we have issued 33,546,139 shares authorized by our ATM programs and raised $2.0 billion. At December 31, 2018, we had 20,453,861 shares remaining for future issuance under our new ATM program.
10. Redemption of Preferred Stock
We issued an irrevocable notice of redemption with respect to our 6.625% Monthly Income Class F Preferred Stock, or the Class F preferred stock, in March 2017, and, as a result, we incurred a non-cash charge of $13.4 million for 2017, representing the Class F preferred stock original issuance costs that we paid in 2012.
11. Noncontrolling Interests
In January 2013, we completed our acquisition of ARCT. Equity issued as consideration for this transaction included common and preferred partnership units issued by Tau Operating Partnership, L.P., or Tau Operating Partnership, the consolidated subsidiary which owns properties acquired through the ARCT acquisition. As of December 31, 2018, we and our subsidiaries hold a 99.4% interest in Tau Operating Partnership, and consolidate the entity. In January 2019, we redeemed all 317,022 remaining common units of Tau Operating Partnership, and paid off the outstanding balance and interest on the $70.0 million senior unsecured term loan entered in January 2013 in conjunction with our acquisition of ARCT (see note 21). Following the redemption, we hold 100% of the ownership interests of Tau Operating Partnership and continue to consolidate the entity.
In June 2013, we completed the acquisition of a portfolio of properties by issuing common partnership units in Realty Income, L.P. as consideration for the acquisition. Additionally, in 2018, we completed the acquisition of an additional portfolio of properties, by paying both cash and by issuing additional common partnership units in Realty Income, L.P. as consideration for the acquisitions. At December 31, 2018, the remaining units from this issuance represent a 1.5% ownership in Realty Income, L.P. We hold the remaining 98.5% interests in this entity and consolidate the entity.
Neither of the common partnership units have voting rights. Both common partnership units are entitled to monthly distributions equal to the amount paid to common stockholders of Realty Income, and are redeemable in cash or Realty Income common stock, at our option, and at a conversion ratio of one to one, subject to certain exceptions. Noncontrolling interests with redemption provisions that permit the issuer to settle in either cash or common stock, at the option of the issuer, were evaluated to determine whether temporary or permanent equity classification on the balance sheet was appropriate. We determined that the units meet the requirements to qualify for presentation as permanent equity.
- 68-
In 2016, we completed the acquisition of two properties by acquiring a controlling interest in two entities. We are the managing member of these entities, and possess the ability to control the business and manage the affairs of these entities. In December 2018, we acquired all of the outstanding minority ownership interests associated with one of these entities. At December 31, 2018, we and our subsidiaries held 95% and 100% interests, respectively, and fully consolidated these entities in our consolidated financial statements.
The following table represents the change in the carrying value of all noncontrolling interests through December 31, 2018 (dollars in thousands):
(1) 317,022 Tau Operating Partnership units were issued on January 22, 2013 and remained outstanding as of December 31, 2018 and December 31, 2017. In January 2019, we redeemed all 317,022 remaining Tau Operating Partnership units (see 21).
(2) 534,546 Realty Income L.P. units were issued on June 27, 2013, 242,007 units were issued on March 30, 2018 and 131,790 units were issued on April 30, 2018. 373,797 and 88,182 remained outstanding as of December 31, 2018 and 2017, respectively.
Both Tau Operating Partnership and Realty Income, L.P. and the entity acquired during 2016 are considered variable interest entities, or VIEs, in which we are deemed the primary beneficiary based on our controlling financial interests. Below is a summary of selected financial data of consolidated VIEs at December 31, 2018 and 2017 (in thousands):
- 69-
12. Distributions Paid and Payable
A. Common Stock
We pay monthly distributions to our common stockholders. The following is a summary of monthly distributions paid per common share for 2018, 2017 and 2016:
The following presents the federal income tax characterization of distributions paid or deemed to be paid per common share for the years:
At December 31, 2018, a distribution of $0.2210 per common share was payable and was paid in January 2019. At December 31, 2017, a distribution of $0.2125 per common share was payable and was paid in January 2018.
B. Class F Preferred Stock
In April 2017, we redeemed all 16,350,000 shares of our Class F preferred stock. During the first three months of 2017, we paid three monthly dividends to holders of our Class F preferred stock totaling $0.414063 per share, or $3.9 million. In April 2017, we paid a final monthly dividend of $0.101215 per share, or $1.7 million, which was recorded as interest expense. For 2017, dividends per share of $0.5073368 were characterized as ordinary income and dividends per share of $0.0079412 were characterized as total capital gain distribution for federal income tax purposes. During 2016, we paid twelve monthly dividends to holders of our Class F preferred stock totaling $1.656252 per share, or $27.1 million, which were characterized as ordinary income for federal income tax purposes.
13. Operating Leases
A. At December 31, 2018, we owned 5,797 properties in 49 states and Puerto Rico. Of the 5,797 properties, 5,769, or 99.5%, are single-tenant properties, and the remaining are multi-tenant properties. At December 31, 2018, 80 properties were available for lease or sale.
Substantially all leases are net leases where the tenant pays or reimburses us for property taxes and assessments, maintains the interior and exterior of the building and leased premises, and carries insurance coverage for public liability, property damage, fire and extended coverage.
Rent based on a percentage of a tenants’ gross sales (percentage rents) was $5.9 million for 2018, $6.1 million for 2017 and $5.3 million for 2016.
- 70-
At December 31, 2018, minimum future annual rents to be received on the operating leases for the next five years and thereafter are as follows (dollars in thousands):
B. Major Tenants - No individual tenant’s rental revenue, including percentage rents, represented more than 10% of our total revenue for each of the years ended December 31, 2018, 2017 or 2016.
14. Gain on Sales of Real Estate
During 2018, we sold 128 properties for $142.3 million, which resulted in a gain of $24.6 million.
During 2017, we sold 59 properties for $167.0 million, which resulted in a gain of $40.9 million.
During 2016, we sold 77 properties for $90.5 million, which resulted in a gain of $22.0 million. Additionally, during 2016 we sold our former corporate headquarters building for $8.6 million.
These property sales do not represent a strategic shift that will have a major effect on our operations and financial results, and therefore do not require presentation as discontinued operations.
15. Fair Value of Financial Instruments
Fair value is defined as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure for assets and liabilities measured at fair value requires allocation to a three-level valuation hierarchy. This valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Categorization within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
We believe that the carrying values reflected in our consolidated balance sheets reasonably approximate the fair values for cash and cash equivalents, accounts receivable, escrow deposits, loans receivable, line of credit payable, term loans and all other liabilities, due to their short-term nature or interest rates and terms that are consistent with market, except for our notes receivable issued in connection with property sales, mortgages payable and our senior notes and bonds payable, which are disclosed as follows (dollars in millions):
(1) Excludes non-cash net premiums recorded on the mortgages payable. The unamortized balance of these net premiums is $4.4 million at December 31, 2018, and $5.9 million at December 31, 2017. Also excludes deferred financing costs of $183,000 at December 31, 2018, and $236,000 at December 31, 2017.
(2) Excludes non-cash original issuance premiums and discounts recorded on notes payable. The unamortized balance of the net original issuance premiums was $10.5 million at December 31, 2018, and $14.3 million at December 31, 2017. Also excludes deferred financing costs of $33.7 million at December 31, 2018 and $34.1 million at December 31, 2017.
The estimated fair values of our notes receivable issued in connection with property sales and our mortgages payable have been calculated by discounting the future cash flows using an interest rate based upon the relevant forward interest rate curve, plus an applicable credit-adjusted spread. Because this methodology includes
- 71-
unobservable inputs that reflect our own internal assumptions and calculations, the measurement of estimated fair values related to our notes receivable and mortgages payable is categorized as level three on the three-level valuation hierarchy.
The estimated fair values of our senior notes and bonds payable are based upon indicative market prices and recent trading activity of our senior notes and bonds payable. Because this methodology includes inputs that are less observable by the public and are not necessarily reflected in active markets, the measurement of the estimated fair values, related to our notes and bonds payable, is categorized as level two on the three-level valuation hierarchy.
We record interest rate swaps on the consolidated balance sheet at fair value. Prior to our adoption of hedge accounting during October 2018 (see note 2), the change in fair value of interest rate swaps was recognized through interest expense. Following adoption, changes to fair value are recorded to accumulated other comprehensive income, or AOCI. At December 31, 2018 and 2017, interest rate swaps in a liability position valued at $7.0 million and $0.5 million, respectively, were included in accounts payable and accrued expenses and interest rate swaps in an asset position valued at $3.0 million and $1.7 million, respectively, were included in other assets, net on the consolidated balance sheet. The fair value of our interest rate swaps are based on valuation techniques including discounted cash flow analysis on the expected cash flows of each swap, using both observable and unobservable market-based inputs, including interest rate curves. Because this methodology uses observable and unobservable inputs, and the unobservable inputs are not significant to the fair value measurement, the measurement of interest rate swaps is categorized as level two on the three-level valuation hierarchy.
Unrealized gains and losses in AOCI are reclassified to interest expense when the related hedged items are recognized. During 2018, we reclassified $0.5 million from AOCI into interest expense. We expect to reclassify $2.8 million from AOCI into interest expense within the next twelve months.
16. Supplemental Disclosures of Cash Flow Information
Cash paid for interest was $251.5 million in 2018, $240.4 million in 2017, and $214.3 million in 2016.
Interest capitalized to properties under development was $369,000 in 2018, $461,000 in 2017, and $469,000 in 2016.
Cash paid for income taxes was $4.7 million in 2018, $3.8 million in 2017, and $3.6 million in 2016.
The following non-cash activities are included in the accompanying consolidated financial statements:
A. During 2018, we issued 373,797 common partnership units of Realty Income, L.P. as partial consideration for an acquisition of properties, totaling $18.8 million.
B. During 2018, we completed the acquisition of a property using $7.5 million in funds that were held in a non-refundable escrow account. These funds were included in other assets, net, at December 31, 2017.
C. During 2017, we completed the acquisition of a portfolio of properties by entering into a note payable in the amount of $125.9 million with the seller, maturing in January 2018. This note was paid in full at maturity.
D. During 2016, we assumed mortgages payable to third-party lenders of $44.1 million and recorded a premium of $692,000.
E. During 2016, consolidated joint venture members made real estate contributions of $15.9 million, net of contributed mortgages payable included in the figures disclosed above in note 16.D.
F. Accrued costs on properties under development resulted in an increase in buildings and improvements and accounts payable of $5.5 million at December 31, 2018.
Per the requirements of ASU 2016-18, which amends Topic 230, Statement of Cash Flows: Restricted Cash, the following table provides a reconciliation of cash and cash equivalents reported within the consolidated balance sheets to the total of the cash, cash equivalents and restricted cash reported within the consolidated statements of cash flows (dollars in thousands):
- 72-
(1) Included within other assets, net on the consolidated balance sheets (see note 3). These amounts consist of cash that we are legally entitled to, but that is not immediately available to us. As a result, these amounts were considered restricted as of the dates presented.
17. Employee Benefit Plan
We have a 401(k) plan covering substantially all of our employees. Under our 401(k) plan, employees may elect to make contributions to the plan up to a maximum of 60% of their compensation, subject to limits under the Code. We match 50% of each of our employee’s salary deferrals up to the first 6% of the employee’s eligible compensation. Our aggregate matching contributions each year have been immaterial to our results of operations.
18. Common Stock Incentive Plan
In 2012, our Board of Directors adopted and stockholders approved the Realty Income Corporation 2012 Incentive Award Plan, or the 2012 Plan, to enable us to motivate, attract and retain the services of directors and employees considered essential to our long-term success. The 2012 Plan offers our directors and employees an opportunity to own our stock or rights that will reflect our growth, development and financial success. Under the terms of the 2012 plan, the aggregate number of shares of our common stock subject to options, restricted stock, stock appreciation rights, restricted stock units and other awards, will be no more than 3,985,734 shares. The 2012 Plan has a term of ten years from the date it was adopted by our Board of Directors.
The amount of share-based compensation costs recognized in general and administrative expense on our consolidated statements of income and comprehensive income was $27.3 million during 2018 (including $11.8 million of accelerated equity awards for our former CEO upon his departure from the company), $13.9 million during 2017, and $12.0 million during 2016.
In October 2018, John P. Case departed as our Chief Executive Officer (CEO) and resigned as a member of our Board of Directors. In connection with his departure, we entered into a severance agreement with Mr. Case. Pursuant to the terms of this severance agreement, Mr. Case received a severance payment, which included both cash and stock compensation components. The total value of cash, stock compensation and professional fees incurred as a result of this severance was $28.3 million; however, the net amount, after incorporating accruals for CEO compensation previous to this severance, was $18.7 million, which was recognized in general and administrative expense on our 2018 consolidated statement of income and comprehensive income, and which represents the incremental costs incurred per the reconciliation below (dollars in thousands):
- 73-
A. Restricted Stock
The following table summarizes our common stock grant activity under our 2012 Plan.
The vesting schedule for shares granted to non-employee directors is as follows:
•
For directors with less than six years of service at the date of grant, shares vest in 33.33% increments on each of the first three anniversaries of the date the shares of stock are granted;
•
For directors with six years of service at the date of grant, shares vest in 50% increments on each of the first two anniversaries of the date the shares of stock are granted;
•
For directors with seven years of service at the date of grant, shares are 100% vested on the first anniversary of the date the shares of stock are granted; and
•
For directors with eight or more years of service at the date of grant, there is immediate vesting as of the date the shares of stock are granted.
During May 2018, we granted 28,000 shares of common stock to the independent members of our Board of Directors, of which 20,000 shares vested immediately, 4,000 shares vest in equal parts over a three-year service period, and 4,000 shares vest in equal parts over a two-year service period. In addition, in July 2018, we granted 8,000 shares of common stock to our two newly appointed independent directors of our Board of Directors, which vest in equal parts over a three-year service period.
Shares granted to employees typically vest annually in equal parts over a four-year service period. During 2018, 147,952 shares were granted to our employees, and vest over a four-year service period.
As of December 31, 2018, the remaining unamortized share-based compensation expense related to restricted stock totaled $12.1 million, which is being amortized on a straight-line basis over the service period of each applicable award. The amount of share-based compensation is based on the fair value of the stock at the grant date. We define the grant date as the date the recipient and Realty Income have a mutual understanding of the key terms and condition of the award, and the recipient of the grant begins to benefit from, or be adversely affected by, subsequent changes in the price of the shares.
- 74-
B. Performance Shares
During 2018, 2017 and 2016, we granted performance share awards, as well as dividend equivalent rights, to our executive officers. The number of performance shares that vest is based on the achievement of the following performance goals:
The performance shares are earned based on our performance, and vest 50% on the first and second January 1 after the end of the three-year performance period, subject to continued service. The performance period for the 2016 performance awards began on January 1, 2016 and ended on December 31, 2018. The performance period for the 2017 performance awards began on January 1, 2017 and will end on December 31, 2019. The performance period for the 2018 performance awards began on January 1, 2018 and will end on December 31, 2020.
The fair value of the performance shares was estimated on the date of grant using a Monte Carlo Simulation model. The following table summarizes our performance share grant activity:
As of December 31, 2018, the remaining share-based compensation expense related to the performance shares totaled $6.4 million and is being recognized on a tranche-by-tranche basis over the service period.
- 75-
C. Restricted Stock Units
During 2018 and 2017 we also granted restricted stock units that primarily vest over a four-year service period and have the same economic rights as shares of restricted stock:
As of December 31, 2018, the remaining share-based compensation expense related to the restricted stock units totaled $471,000 and is being recognized on a straight-line basis over the service period.
19. Segment Information
We evaluate performance and make resource allocation decisions on an industry by industry basis. For financial reporting purposes, we have grouped our tenants into 48 activity segments. All of the properties are incorporated into one of the applicable segments. Because almost all of our leases require the tenant to pay operating expenses, rental revenue is the only component of segment profit and loss we measure.
- 76-
The following tables set forth certain information regarding the properties owned by us, classified according to the business of the respective tenants (dollars in thousands):
- 77-
20. Commitments and Contingencies
In the ordinary course of business, we are party to various legal actions which we believe are routine in nature and incidental to the operation of our business. We believe that the outcome of the proceedings will not have a material adverse effect upon our consolidated financial position or results of operations.
At December 31, 2018, we had commitments of $5.8 million for re-leasing costs, recurring capital expenditures, and non-recurring building improvements. In addition, as of December 31, 2018, we had committed $23.6 million under construction contracts, which is expected to be paid in the next twelve months.
We have certain properties that are subject to ground leases which are accounted for as operating leases. At December 31, 2018, minimum future rental payment for the next five years and thereafter are as follows (dollars in millions):
(1)
Realty Income currently pays the ground lessors directly for the rent under the ground leases.
(2)
Our tenants, who are generally sub-tenants under the ground leases, are responsible for paying the rent under these ground leases. In the event a tenant fails to pay the ground lease rent, we are primarily responsible.
- 78-
Upon adoption of ASC 2016-2 (Topic 842) Leases on January 1, 2019, we will recognize lease obligations for ground leases with a corresponding right of use asset on our consolidated balance sheet.
21. Subsequent Events
•
In January and February 2019, we declared a dividend of $0.2255, which will be paid in February 2019 and March 2019, respectively.
•
In January 2019, we redeemed all 317,022 remaining common units of Tau Operating Partnership, L.P., which reduced our total common units outstanding to 373,797 as of January 3, 2019. Additionally, in January 2019, we paid off the outstanding balance and interest on the $70.0 million senior unsecured term loan entered in January 2013 in conjunction with our acquisition of ARCT. Following the redemption, we hold 100% of the ownership interests of Tau Operating Partnership, L.P., and continue to consolidate the entity.
- 79-
REALTY INCOME CORPORATION AND SUBSIDIARIES
CONSOLIDATED QUARTERLY FINANCIAL DATA
(dollars in thousands, except per share data)
(not covered by Report of Independent Registered Public Accounting Firm)
(1) Amounts for each period are calculated independently. The sum of the quarters may differ from the annual amount.

---

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
Item 9: Changes In and Disagreements With Accountants on Accounting and Financial Disclosure
We have had no disagreements with our independent registered public accounting firm on accounting matters or financial disclosure, nor have we changed accountants in the two most recent fiscal years.

---

ITEM 9A. CONTROLS AND PROCEDURES
Item 9A: Controls and Procedures
Evaluation of Disclosure Controls and Procedures
We maintain disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended) that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.
As of and for the year ended December 31, 2018, we carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, under the supervision and with the participation of management, including our Chief Executive Officer and Chief Financial Officer. Based on the foregoing, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective and were operating at a reasonable assurance level.
- 80-
Management’s Report on Internal Control Over Financial Reporting
Internal control over financial reporting refers to the process designed by, or under the supervision of, our Chief Executive Officer and Chief Financial Officer, and effected by our Board of Directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles, and includes those policies and procedures that:
(1) Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company;
(2) Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and
(3) Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on the financial statements.
Management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company.
Management has used the framework set forth in the report entitled “Internal Control--Integrated Framework (2013)” published by the Committee of Sponsoring Organizations of the Treadway Commission to evaluate the effectiveness of the Company’s internal control over financial reporting. Management has concluded that the Company’s internal control over financial reporting was effective as of the end of the most recent fiscal year. KPMG LLP has issued an attestation report on the effectiveness of the Company’s internal control over financial reporting.
Submitted on February 21, 2019 by,
Sumit Roy, President, Chief Executive Officer
Paul M. Meurer, Executive Vice President, Chief Financial Officer, and Treasurer
Changes in Internal Controls
In January 2018, we implemented an enterprise resource planning system and accordingly we have updated our internal controls over financial reporting, as necessary, to accommodate modifications to our business processes and to take advantage of enhanced automated controls provided by the new system. There have been no changes in our internal control over financial reporting that occurred during the quarter ended December 31, 2018 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Limitations on the Effectiveness of Controls
Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting objectives because of its inherent limitations. Internal control over financial reporting is a process that involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. Internal control over financial reporting also can be circumvented by collusion or improper management override. Because of such limitations, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

---

ITEM 9B. OTHER INFORMATION
Item 9B: Other Information
None.
- 81-
PART III

---

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS
Item 10: Directors, Executive Officers and Corporate Governance
The information required by this item is set forth under the captions “Board of Directors” and “Executive Officers of the Company” and “Section 16(a) Beneficial Ownership Reporting Compliance” in our definitive Proxy Statement for the 2019 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference. The Annual Meeting of Stockholders is presently scheduled to be held on May 14, 2019.

---

ITEM 11. EXECUTIVE COMPENSATION
Item 11: Executive Compensation
The information required by this item is set forth under the caption “Executive Compensation” in our definitive Proxy Statement for the 2019 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference.

---

ITEM 12. SECURITY OWNERSHIP
Item 12: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
The information required by this item is set forth under the caption “Security Ownership of Certain Beneficial Owners and Management” in our definitive Proxy Statement for the 2019 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference.

---

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Item 13: Certain Relationships, Related Transactions and Director Independence
The information required by this item is set forth under the caption “Related Party Transactions” in our definitive Proxy Statement for the 2019 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference.

---

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
Item 14: Principal Accounting Fees and Services
The information required by this item is set forth under the caption “Independent Registered Public Accounting Firm Fees and Services” in our definitive Proxy Statement for the 2019 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference.
PART IV

---

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
Item 15: Exhibits and Financial Statement Schedules
A. The following documents are filed as part of this report.
1. Financial Statements (see Item 8)
a. Reports of Independent Registered Public Accounting Firm
b. Consolidated Balance Sheets,
December 31, 2018 and 2017
c. Consolidated Statements of Income and Comprehensive Income,
Years ended December 31, 2018, 2017 and 2016
d. Consolidated Statements of Equity,
Years ended December 31, 2018, 2017 and 2016
e. Consolidated Statements of Cash Flows,
Years ended December 31, 2018, 2017 and 2016
f. Notes to Consolidated Financial Statements
g. Consolidated Quarterly Financial Data, (unaudited) for 2018 and 2017
- 82-
2. Financial Statement Schedule. Reference is made to page of this report for Schedule III Real Estate and Accumulated Depreciation (electronically filed with the Securities and Exchange Commission).
Schedules not Filed: All schedules, other than those indicated in the Table of Contents, have been omitted as the required information is either not material, inapplicable or the information is presented in the financial statements or related notes.
3. Exhibits
Articles of Incorporation and By-Laws
Exhibit No.
Description
2.1
Agreement and Plan of Merger, dated as of September 6, 2012 (File No. 001-13374), by and among Realty Income Corporation, Tau Acquisition LLC and American Realty Capital Trust, Inc. (filed as exhibit 2.1 to the Company’s Form 8-K, filed on September 6, 2012 and incorporated herein by reference).
2.2
First Amendment to Agreement and Plan of Merger, dated as of January 6, 2013, by and among Realty Income Corporation, Tau Acquisition LLC and American Realty Capital Trust, Inc. (filed as exhibit 2.1 to the Company’s Form 8-K, filed on January 7, 2013 (File No. 001-13374) and incorporated herein by reference).
3.1
Articles of Incorporation of the Company, as amended by amendment No. 1 dated May 10, 2005 and amendment No. 2 dated May 10, 2005 (filed as exhibit 3.1 to the Company’s Form 10-Q for the quarter ended June 30, 2005 (File No. 033-69410) and incorporated herein by reference).
3.2
Articles of Amendment dated July 29, 2011 (filed as exhibit 3.1 to the Company's Form 8-K, filed on August 2, 2011 (File No. 001-13374) and incorporated herein by reference).
3.3
Articles of Amendment dated June 21, 2012 (filed as exhibit 3.1 to the Company's Form 8-K, filed on June 21, 2012 (File No. 001-13374) and incorporated herein by reference).
3.4
Amended and Restated Bylaws of the Company dated March 13, 2018 (filed as exhibit 3.1 to the Company’s Form 8-K, filed on March 14, 2018 (File No. 001-13374) and incorporated herein by reference)
3.5
Articles Supplementary dated June 30, 1998 establishing the terms of the Company's Class A Junior Participating Preferred Stock (filed as exhibit A to exhibit 1 of Form 8-A12B, filed on June 26, 1998 (File No. 001-13374) and incorporated herein by reference).
3.6
Articles Supplementary dated May 24, 1999 establishing the terms of the Company's 93/8% Class B Cumulative Redeemable Preferred Stock (filed as exhibit 4.1 on Form 8-K, filed on May 25, 1999 (File No. 001-13374) and incorporated herein by reference).
3.7
Articles Supplementary dated July 28, 1999 establishing the terms of the Company's 91/2% Class C Cumulative Redeemable Preferred Stock (filed as exhibit 4.1 on Form 8-K, filed on July 30, 1999 (File No. 001-13374) and incorporated herein by reference).
3.8
Articles Supplementary dated May 24, 2004 and the Articles Supplementary dated October 18, 2004 establishing the terms of the Company's 7.375% Monthly Income Class D Cumulative Redeemable Preferred Stock (filed as exhibit 3.8 on Form 8-A12B, filed on May 25, 2004 (File No. 001-13374) and incorporated herein by reference).
3.9
Articles Supplementary dated November 30, 2006 establishing the terms of the Company's 6.75% Monthly Income Class E Cumulative Redeemable Preferred Stock (filed as exhibit 3.5 on Form 8-A12B, filed on December 5, 2006 (File No. 001-13374) and incorporated herein by reference).
3.10
Articles Supplementary to the Articles of Incorporation of the Company classifying and designating the 6.625% Monthly Income Class F Cumulative Redeemable Preferred Stock, dated February 3, 2012 (the “First Class F Articles Supplementary”) (filed as exhibit 3.1 to the Company’s Form 8-K, filed on February 3, 2012 (File No. 001-13374) and incorporated herein by reference).
3.11
Certificate of Correction to the First Class F Articles Supplementary, dated April 11, 2012 (filed as exhibit 3.2 to the Company’s Form 8-K, filed on April 17, 2012 (File No. 001-13374) and incorporated herein by reference).
3.12
Articles Supplementary to the Articles of Incorporation of the Company classifying and designating additional shares of the 6.625% Monthly Income Class F Cumulative Redeemable Preferred Stock, dated April 17, 2012 (filed as exhibit 3.3 to the Company’s Form 8-K, filed on April 17, 2012 (File No. 001-13374) and incorporated herein by reference).
Instruments defining the rights of security holders, including indentures
4.1
Indenture dated as of October 28, 1998 between the Company and The Bank of New York (filed as exhibit 4.1 to the Company’s Form 8-K, filed on October 28, 1998 (File No. 001-13374) and incorporated herein by reference).
4.2
Form of 5.875% Senior Notes due 2035 (filed as exhibit 4.2 to the Company’s Form 8-K, filed on March 11, 2005 (File No. 033-69410) and incorporated herein by reference).
4.3
Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York, as Trustee, establishing a series of securities entitled 5.875% Senior Debentures due 2035 (filed as exhibit 4.3 to the Company’s Form 8-K, filed on March 11, 2005 (File No. 033-69410) and incorporated herein by reference).
4.4
Form of 5.750% Notes due 2021 (filed as exhibit 4.2 to Company’s Form 8-K, filed on June 29, 2010 (File No. 001-13374) and incorporated herein by reference).
- 83-
4.5
Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as Successor Trustee, establishing a series of securities entitled 5.750% Notes due 2021 (filed as exhibit 4.3 to the Company’s Form 8-K, filed on June 29, 2010 (File No. 001-13374) and incorporated herein by reference).
4.6
Form of Common Stock Certificate (filed as exhibit 4.16 to the Company’s Form 10-Q for the quarter ended September 30, 2011, filed on October 28, 2011 (File No. 001-13374) and incorporated herein by reference).
4.7
Form of 3.250% Note due 2022 (filed as exhibit 4.3 to Company’s Form 8-K, filed on October 10, 2012 (File No. 001-13374) and incorporated herein by reference).
4.8
Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “2.000% Notes due 2018” and establishing a series of securities entitled “3.250% Notes due 2022” (filed as exhibit 4.4 to the Company’s Form 8-K, filed on October 10, 2012 (File No. 001-13374) and incorporated herein by reference).
4.9
Form of 4.650% Note due 2023 (filed as exhibit 4.2 to Company’s Form 8-K, filed on July 16, 2013 (File No. 001-13374) and incorporated herein by reference).
4.10
Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “4.650% Notes due 2023” (filed as exhibit 4.3 to the Company’s Form 8-K, filed on July 16, 2013 (File No. 001-13374) and incorporated herein by reference).
4.11
Form of 3.875% Note due 2024 (filed as exhibit 4.2 to Company’s Form 8-K, filed on June 25, 2014 and incorporated herein by reference).
4.12
Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “3.875% Notes due 2024” (filed as exhibit 4.3 to the Company’s Form 8-K, filed on June 25, 2014 and incorporated herein by reference).
4.13
Form of 4.125% Note due 2026 (filed as exhibit 4.2 to Company’s Form 8-K, filed on September 23, 2014 and incorporated herein by reference).
4.14
Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “4.125% Notes due 2026” (filed as exhibit 4.3 to the Company’s Form 8-K, filed on September 23, 2014 and incorporated herein by reference).
4.15
Form of 3.000% Note due 2027 (filed as exhibit 4.2 to Company’s Form 8-K, filed on October 12, 2016 and incorporated herein by reference).
4.16
Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “3.000% Notes due 2027” (filed as exhibit 4.3 to the Company’s Form 8-K, filed on October 12, 2016 and incorporated herein by reference).
4.17
Form of 4.650% Note due 2047 (filed as exhibit 4.2 to Company’s Form 8-K, filed on March 15, 2017 and incorporated herein by reference).
4.18
Form of 4.125% Note due 2026 (filed as exhibit 4.3 to Company’s Form 8-K, filed on March 15, 2017 and incorporated herein by reference).
4.19
Officers’ Certificate pursuant to Sections 201, 301, and 303 of the Indenture dated October 28, 1998 between the Company and The bank of New York Mellon Trust Company, N.A. as successor trustee, establishing a series of securities entitled “4.650% Notes due 2047” and re-opening a series of securities entitled “4.125% Notes due 2026” (filed as exhibit 4.4 to Company’s Form 8-K, filed on March 15, 2017 and incorporated herein by reference).
4.20
Form of 3.650% Note due 2028 (filed as exhibit 4.2 to Company’s Form 8-K, filed on December 6, 2017 and incorporated herein by reference).
4.21
Form of 3.250% Note due 2022 (filed as exhibit 4.3 to Company’s Form 8-K, filed on December 6, 2017 and incorporated herein by reference).
4.22
Form of 4.650% Note due 2047 (filed as exhibit 4.4 to Company’s Form 8-K, filed on December 6, 2017 and incorporated herein by reference).
4.23
Officers’ Certificate pursuant to Sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “3.650% Notes due 2028” and re-opening a series of securities entitled “3.250% Notes due 2022” and “4.650% Notes due 2047.” (filed as exhibit 4.5 to the Company’s Form 8-K, filed on December 6, 2017 and incorporated herein by reference).
4.24
Form of 3.875% Note due 2025 (filed as exhibit 4.2 to Company’s Form 8-K, filed on April 4, 2018 and incorporated herein by reference).
4.25
Officers’ Certificate pursuant to Sections 201, 301, and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A. as successor trustee, establishing a series of securities entitled “3.875% Notes due 2025” and re-opening a series of securities entitled “4.125% Notes due 2026” (filed as exhibit 4.3 to Company’s Form 8-K, filed on April 4, 2018 and incorporated herein by reference).
Material Contracts
10.1
Management Incentive Plan (filed as Exhibit 10.10 to the Company’s Form 10-K for the year ended December 31, 1997, filed on March 20, 1998 (File No. 001-13374) and incorporated herein by reference).
10.2
Form of Nonqualified Stock Option Agreement for Independent Directors (filed as Exhibit 10.11 to the Company’s Form 10-K for the year ended December 31, 1997, filed on March 20, 1998 (File No. 001-13374) and incorporated herein by reference).
10.3
Form of Restricted Stock Agreement between the Company and Executive Officers under the 2003 Stock Incentive Award Plan of Realty Income Corporation (filed as exhibit 10.11 to the Company’s Form 8-K, filed on January 6, 2005 and dated January 1, 2005 (File No. 001-13374) and incorporated herein by reference).
- 84-
10.4
2003 Stock Incentive Award Plan of Realty Income Corporation, as amended and restated February 21, 2006 (filed as exhibit 10.10 to the Company’s Form 10-K for the year ended December 31, 2005, filed on February 23, 2006 (File No. 033-69410) and incorporated herein by reference).
10.5
Amendment dated May 15, 2007 to the Amended and Restated 2003 Stock Incentive Award Plan of Realty Income Corporation (filed as exhibit 10.1 to the Company’s Form 10-Q, for the quarter ended June 30, 2007 and incorporated herein by reference).
10.6
Form of Restricted Stock Agreement under the 2003 Stock Incentive Award Plan of Realty Income Corporation (filed as exhibit 10.2 to the Company’s Form 10-Q, for the quarter ended June 30, 2007, filed on August 2, 2007 (File No. 001-13374) and incorporated herein by reference).
10.7
Amended and Restated Form of Employment Agreement between the Company and its Executive Officers (filed as exhibit 10.1 to the Company’s Form 8-K, filed on January 7, 2010 and dated January 5, 2010 (File No. 001-13374) and incorporated herein by reference).
10.8
Form of Restricted Stock Agreement for John P. Case (filed as exhibit 10.1 to the Company’s Form 10-Q, for the quarter ended March 31, 2010, filed on April 29, 2010 (File No. 001-13374) and incorporated herein by reference).
10.9
Realty Income Corporation 2012 Incentive Award Plan (filed as Appendix B to the Company’s Proxy Statement on Schedule 14A filed on March 30, 2012 and incorporated herein by reference).
10.10
Form of Restricted Stock Agreement for Employees under the Realty Income Corporation 2012 Incentive Award Plan (filed as exhibit 10.1 to the Company’s Form 8-K, filed on January 8, 2013 (File No. 001-13374) and incorporated herein by reference).
10.11
Form of Restricted Stock Agreement for Non-Employee Directors under the Realty Income Corporation 2012 Incentive Award Plan (filed as exhibit 10.2 to the Company’s Form 8-K, filed on January 8, 2013 (File No. 001-13374) and incorporated herein by reference).
10.12
The First Amendment to Amended and Restated Credit Agreement among the Company, as Borrower, each of the Lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent (filed as exhibit 10.1 to the Company’s Form 8-K, filed on June 3, 2013 (File No. 001-13374) and incorporated herein by reference).
10.13
Form of Amendment to Employment Agreement (filed as exhibit 10.1 to the Company’s Form 8-K, filed on June 19, 2013 (File No. 001-13374) and incorporated herein by reference).
10.14
Form of Addendum to Restricted Stock Agreement (filed as exhibit 10.2 to the Company’s Form 8-K, filed on June 19, 2013 (File No. 001-13374) and incorporated herein by reference).
10.15
The Second Amendment to Amended and Restated Credit Agreement among the Company, as Borrower, each of the Lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent (filed as exhibit 10.1 to the Company’s Form 8-K, filed on August 28, 2013 (File No. 001-13374) and incorporated herein by reference).
10.16
Form of Time-Based Restricted Stock Agreement for John P. Case dated September 3, 2013 (filed as exhibit 10.7 to the Company’s Form 10-Q, for the quarter ended September 30, 2013 (File No. 001-13374) and incorporated herein by reference).
10.17
Form of Performance-Based Restricted Stock Agreement for John P. Case dated September 26, 2013 (filed as exhibit 10.8 to the Company’s Form 10-Q, for the quarter ended September 30, 2013 (File No. 001-13374) and incorporated herein by reference).
10.18
The Third Amendment to Amended and Restated Credit Agreement among the Company, as Borrower, each of the Lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent (filed as exhibit 10.1 to the Company’s Form 8-K, filed on October 29, 2013 (File No. 001-13374) and incorporated herein by reference).
10.19
Severance Agreement for Gary M. Malino (filed as exhibit 10.2 to the Company’s Form 10-Q, filed on October 30, 2014 and incorporated herein by reference).
10.20
Amended and Restated Form Indemnification Agreement, between the Company and each executive officer and each director of the Board of Directors of the Company (filed as exhibit 10.1 to the Company’s Form 8-K, filed on October 30, 2014 and incorporated herein by reference).
10.21
Form of Performance Share Award Agreement (filed as exhibit 10.1 to the Company’s Form 10-Q, filed on April 30, 2015 and incorporated herein by reference).
10.22
Dividend Reinvestment and Stock Purchase Plan (filed pursuant to Rule 424(b)(5) under the Securities Act of 1933, as amended, on February 23, 2015, as a prospectus supplement to the Company’s prospectus dated February 22, 2013 (File No. 333-186788) and incorporated herein by reference).
10.23
Dividend Reinvestment and Stock Purchase Plan (filed pursuant to Rule 424(b)(5) under the Securities Act of 1933, as amended, on July 30, 2015, as a prospectus supplement to the Company’s prospectus dated February 22, 2013 (File No. 333-186788) and incorporated herein by reference).
10.24
Form of Restricted Stock Agreement (filed as exhibit 10.30 to the Company’s Form 10-K for the year ended December 31, 2015 and incorporated herein by reference).
10.25
Form of Restricted Stock Unit Award Agreement (filed as exhibit 10.31 to the Company’s Form 10-K for the year ended December 31, 2015 and incorporated herein by reference).
10.26
Form of Second Amendment to Employment Agreement (filed as exhibit 10.32 to the Company’s Form 10-K for the year ended December 31, 2015 and incorporated herein by reference).
10.27
First Amendment to Realty Income Corporation 2012 Incentive Award Plan. (filed as exhibit 10.33 to the Company’s Form 10-K, filed on February 23, 2017 and incorporated herein by reference).
10.28
Second Amendment to Realty Income Corporation 2012 Incentive Award Plan (filed as exhibit 10.1 to the Company’s Form 8-K, filed on February 17, 2017 and incorporated herein by reference).
10.29
Amended and Restated Employment Agreement dated February 14, 2017 between the Company and John P. Case (filed as exhibit 10.2 to the Company’s Form 10-Q for the period ended March 31, 2017 and incorporated herein by reference).
10.30
Form of Performance Share Award Agreement (filed as exhibit 10.3 to the Company’s Form 10-Q for the quarter ended March 31, 2017 and incorporated herein by reference).
10.31
Severance Agreement and General Release for John P. Case dated October 16, 2018 (filed as exhibit 10.1 to the Company's Form 8-K, filed on October 17, 2018 and incorporated herein by reference).
- 85-
10.32
Credit Agreement dated October 24, 2018 (filed as exhibit 10.1 to the Company’s Form 8-K, filed on October 26, 2018 and incorporated herein by reference).
10.33
Realty Income Executive Severance Plan dated January 15, 2019 (filed as exhibit 10.1 to the Company's Form 8-K, filed on January 18, 2019 and incorporated herein by reference).
10.34
Form of Participation Agreement to Realty Income Executive Severance Plan dated January 15, 2019 (filed as exhibit 10.2 to the Company's Form 8-K, filed on January 18, 2019 and incorporated herein by reference).
Subsidiaries of the Registrant
*21.1
Subsidiaries of the Company as of February 21, 2019.
Consents of Experts and Counsel
*23.1
Consent of Independent Registered Public Accounting Firm.
Certifications
*31.1
Rule 13a-14(a) Certifications as filed by the Chief Executive Officer pursuant to SEC release No. 33-8212 and 34-47551.
*31.2
Rule 13a-14(a) Certifications as filed by the Chief Financial Officer pursuant to SEC release No. 33-8212 and 34-47551.
*32
Section 1350 Certifications as furnished by the Chief Executive Officer and the Chief Financial Officer pursuant to SEC release No. 33-8212 and 34-47551.
Interactive Data Files
*101
The following materials from Realty Income Corporation’s Annual Report on Form 10-K for the year ended December 31, 2018, formatted in Extensible Business Reporting Language: (i) Consolidated Balance Sheets, (ii) Consolidated Statements of Income and Comprehensive Income, (iii) Consolidated Statements of Stockholders’ Equity, (iv) Consolidated Statements of Cash Flows, (v) Notes to Consolidated Financial Statements, and (vi) Schedule III Real Estate and Accumulated Depreciation.
* Filed herewith.
- 86-
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
REALTY INCOME CORPORATION
By:
/s/SUMIT ROY
Date: February 21, 2019
Sumit Roy
President, Chief Executive Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By:
/s/MICHAEL D. MCKEE
Date: February 21, 2019
Michael D. McKee
Non-Executive Chairman of the Board of Directors
By:
/s/KATHLEEN R. ALLEN, Ph.D.
Date: February 21, 2019
Kathleen R. Allen, Ph.D.
Director
By:
/s/SUMIT ROY
Date: February 21, 2019
Sumit Roy
Director, President, Chief Executive Officer
(Principal Executive Officer)
By:
/s/A. LARRY CHAPMAN
Date: February 21, 2019
A. Larry Chapman
Director
By:
/s/REGINALD H. GILYARD
Date: February 21, 2019
Reginald H. Gilyard
Director
By:
/s/PRIYA CHERIAN HUSKINS
Date: February 21, 2019
Priya Cherian Huskins
Director
By:
/s/GERARDO I. LOPEZ
Date: February 21, 2019
Gerardo I. Lopez
Director
By:
/s/GREGORY T. MCLAUGHLIN
Date: February 21, 2019
Gregory T. McLaughlin
Director
By:
/s/RONALD L. MERRIMAN
Date: February 21, 2019
Ronald L. Merriman
Director
By:
STEPHEN E. STERRETT
Date: February 21, 2019
Stephen E. Sterrett
Director
- 87-
By:
/s/PAUL M. MEURER
Date: February 21, 2019
Paul M. Meurer
Executive Vice President, Chief Financial Officer and Treasurer
(Principal Financial Officer)
By:
/s/SEAN P. NUGENT
Date: February 21, 2019
Sean P. Nugent
Senior Vice President, Controller
(Principal Accounting Officer)
- 88-
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Aerospace
Batesville
MS
2,433,855
2,160,849
17,219,291
-
-
2,160,849
17,219,291
19,380,140
4,390,919
8/9/2012
Ellisville
MS
-
4,140,000
20,930,630
203,037
-
4,140,000
21,133,668
25,273,668
3,360,433
6/27/2013
Columbus
OH
13,703,817
-
19,637,318
-
-
-
19,637,318
19,637,318
3,109,242
6/19/2013
DFW Airport
TX
-
-
37,503,886
13,600
-
-
37,517,486
37,517,486
11,319,689
6/20/2011
Lufkin
TX
-
589,925
15,492,255
-
-
589,925
15,492,255
16,082,180
2,637,372
1/22/2013
Apparel
Mesa
AZ
-
619,035
867,013
6,484
-
619,035
873,497
1,492,532
695,754
2/11/1999
El Cajon
CA
-
6,930,000
12,518,083
89,660
-
6,930,000
12,607,743
19,537,743
2,291,116
6/19/2014
Elk Grove
CA
-
804,327
2,668,492
24,266
-
804,327
2,692,758
3,497,085
683,164
9/18/2012
Elk Grove
CA
-
3,250,000
16,776,852
-
-
3,250,000
16,776,852
20,026,852
3,047,795
6/2/2014
Folsom
CA
-
2,370,000
11,342,375
-
-
2,370,000
11,342,375
13,712,375
1,984,916
8/19/2014
Hanford
CA
-
562,812
3,468,215
-
-
562,812
3,468,215
4,031,027
872,834
9/18/2012
Lodi
CA
-
3,153,559
2,661,260
-
-
3,153,559
2,661,260
5,814,819
669,750
9/18/2012
Manteca
CA
-
1,565,672
4,440,141
-
-
1,565,672
4,440,141
6,005,813
1,103,435
9/18/2012
Moreno Valley
CA
-
1,654,486
3,305,084
197,969
-
1,654,486
3,503,053
5,157,539
938,188
9/18/2012
Redlands
CA
-
3,006,680
2,242,430
340,021
-
3,006,680
2,582,451
5,589,131
730,839
9/18/2012
Sacramento
CA
-
3,446,351
4,460,201
-
-
3,446,351
4,460,201
7,906,552
1,122,484
9/18/2012
South Lake Tahoe
CA
-
3,110,000
3,176,091
9,750
-
3,110,000
3,185,841
6,295,841
1,052,567
10/22/2010
Vacaville
CA
-
1,299,816
3,375,574
183,515
-
1,299,816
3,559,089
4,858,905
948,159
9/18/2012
Manchester
CT
-
771,660
3,653,539
367,119
771,660
4,020,818
4,792,478
3,080,116
3/26/1998
Danbury
CT
-
1,096,861
6,217,688
491,514
-
1,096,861
6,709,202
7,806,063
5,497,684
9/30/1997
Deerfield Beach
FL
-
3,160,000
4,832,848
93,798
-
3,160,000
4,926,645
8,086,645
1,622,969
10/22/2010
Melbourne
FL
-
994,000
4,076,554
1,063,770
183,005
994,000
5,323,328
6,317,328
2,931,075
10/17/2001
Cumming
GA
4,675,000
2,100,000
6,472,785
-
-
2,100,000
6,472,785
8,572,785
1,219,041
4/1/2014
Collinsville
IL
3,570,500
675,724
7,021,479
-
675,724
7,021,854
7,697,578
1,673,478
1/22/2013
Georgetown
KY
5,679,500
1,922,820
10,448,325
-
-
1,922,820
10,448,325
12,371,145
2,490,184
1/22/2013
Missoula
MT
-
163,100
362,249
28,843
16,199
163,100
407,292
570,392
394,824
10/30/1987
Staten Island
NY
-
4,202,093
3,385,021
275,046
-
4,202,093
3,660,066
7,862,159
2,922,906
3/26/1998
Bend
OR
-
4,060,000
13,198,790
9,498
-
4,060,000
13,208,288
17,268,288
2,618,464
1/31/2014
Clarksville
TN
-
3,992,886
-
47,658
-
3,992,886
47,658
4,040,544
4,330
7/5/2013
Jackson
TN
-
381,076
857,261
70,940
19,237
381,076
947,438
1,328,514
774,156
9/26/1997
The Colony
TX
-
2,580,000
2,214,133
285,298
2,580,000
2,499,589
5,079,589
799,964
10/22/2010
Automotive Collision Service
Colorado Springs
CO
-
1,085,560
2,137,425
-
-
1,085,560
2,137,425
3,222,985
591,275
1/5/2012
Denver
CO
-
480,348
2,127,792
-
-
480,348
2,127,792
2,608,140
562,452
9/30/2011
Highlands Ranch
CO
-
583,289
2,139,057
-
-
583,289
2,139,057
2,722,346
1,258,032
8/11/2003
Littleton
CO
-
601,388
2,169,898
-
-
601,388
2,169,898
2,771,286
1,129,374
11/12/2004
Parker
CO
-
868,768
2,653,745
-
-
868,768
2,653,745
3,522,513
1,384,966
7/3/2003
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Thornton
CO
-
693,323
1,896,616
-
-
693,323
1,896,616
2,589,939
1,063,328
10/15/2003
Fort Myers
FL
-
1,050,000
1,395,464
-
-
1,050,000
1,395,464
2,445,464
169,781
12/29/2015
Fort Myers
FL
-
530,000
955,371
-
-
530,000
955,371
1,485,371
116,237
12/29/2015
Naples
FL
-
1,590,000
918,896
-
-
1,590,000
918,896
2,508,896
111,799
12/29/2015
Cumming
GA
-
661,624
1,822,363
25,000
-
661,624
1,847,363
2,508,987
1,111,904
12/31/2002
Douglasville
GA
-
679,868
1,935,515
-
-
679,868
1,935,515
2,615,383
1,184,830
12/30/2002
Lilburn
GA
-
1,150,000
1,670,724
-
-
1,150,000
1,670,724
2,820,724
353,664
2/20/2013
Macon
GA
-
1,400,000
1,317,435
-
-
1,400,000
1,317,435
2,717,435
346,968
1/10/2012
Morrow
GA
-
725,948
1,846,315
-
-
725,948
1,846,315
2,572,263
1,135,639
8/30/2002
Peachtree City
GA
-
1,190,380
689,284
23,610
-
1,190,380
712,894
1,903,274
442,564
9/19/2002
Roswell
GA
-
1,825,000
1,934,495
-
-
1,825,000
1,934,495
3,759,495
540,563
8/10/2011
Warner Robins
GA
-
1,250,000
1,012,258
-
-
1,250,000
1,012,258
2,262,258
279,804
9/1/2011
Chicago
IL
-
1,300,000
1,600,000
-
-
1,300,000
1,600,000
2,900,000
157,333
7/20/2016
Crystal Lake
IL
-
250,000
1,143,500
-
-
250,000
1,143,500
1,393,500
127,691
3/31/2016
Grayslake
IL
-
360,000
1,374,505
5,500
-
360,000
1,380,005
1,740,005
71,073
9/19/2017
Maryville
IL
-
320,000
882,122
-
-
320,000
882,122
1,202,122
174,930
1/10/2014
Mundelein
IL
-
478,805
821,195
400,000
-
478,805
1,221,195
1,700,000
35,407
12/8/2017
Naperville
IL
-
1,090,000
1,596,107
-
-
1,090,000
1,596,107
2,686,107
321,882
12/23/2013
Oak Lawn
IL
-
180,000
547,102
-
-
180,000
547,102
727,102
112,144
11/13/2013
Oak Lawn
IL
-
370,000
1,116,743
-
-
370,000
1,116,743
1,486,743
225,199
12/23/2013
Orland Park
IL
-
120,000
1,015,358
-
-
120,000
1,015,358
1,135,358
204,764
12/23/2013
Schaumburg
IL
-
435,815
789,188
102,966
10,000
435,815
902,154
1,337,969
23,283
4/26/2018
South Holland
IL
-
80,000
1,548,690
-
-
80,000
1,548,690
1,628,690
312,319
12/23/2013
Waukegan
IL
-
710,000
782,268
-
-
710,000
782,268
1,492,268
40,417
9/19/2017
Zion
IL
-
230,000
540,650
-
-
230,000
540,650
770,650
27,934
9/19/2017
Cedar Lake
IN
-
300,000
1,037,278
-
-
300,000
1,037,278
1,337,278
164,236
1/7/2015
Gary
IN
-
100,000
1,875,652
-
-
100,000
1,875,652
1,975,652
296,978
1/7/2015
Hammond
IN
-
230,000
1,217,329
-
-
230,000
1,217,329
1,447,329
192,744
1/7/2015
Highland
IN
-
390,000
910,537
-
-
390,000
910,537
1,300,537
144,168
1/7/2015
Florence
KY
-
350,000
1,150,428
-
-
350,000
1,150,428
1,500,428
120,792
5/26/2016
Ann Arbor
MI
-
680,000
1,433,382
-
-
680,000
1,433,382
2,113,382
231,730
12/18/2014
Clawson
MI
-
220,000
517,432
-
-
220,000
517,432
737,432
83,651
12/18/2014
Clinton Township
MI
-
480,000
3,578,405
-
-
480,000
3,578,405
4,058,405
542,725
3/31/2015
Livonia
MI
-
317,728
1,035,971
71,852
-
317,728
1,107,822
1,425,550
167,482
12/18/2014
Novi
MI
-
530,000
2,092,323
-
-
530,000
2,092,323
2,622,323
317,336
3/31/2015
Rochester Hills
MI
-
280,000
1,179,451
-
-
280,000
1,179,451
1,459,451
178,883
3/31/2015
Sterling Heights
MI
-
480,000
1,920,459
-
-
480,000
1,920,459
2,400,459
233,656
12/29/2015
Warren
MI
-
300,000
746,229
-
-
300,000
746,229
1,046,229
113,178
3/31/2015
Washington
MI
-
240,000
474,241
-
-
240,000
474,241
714,241
76,669
12/18/2014
Wayne
MI
-
190,000
1,009,116
-
-
190,000
1,009,116
1,199,116
163,140
12/18/2014
Woodhaven
MI
-
170,000
1,148,368
-
-
170,000
1,148,368
1,318,368
185,653
12/18/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Ham Lake
MN
-
192,610
1,930,958
-
-
192,610
1,930,958
2,123,568
1,084,767
10/31/2003
Stillwater
MN
-
656,250
1,218,901
187,158
-
656,250
1,406,059
2,062,309
369,300
11/16/2012
Olive Branch
MS
-
350,000
1,965,718
-
-
350,000
1,965,718
2,315,718
589,986
11/2/2010
Cary
NC
-
610,389
1,492,235
-
-
610,389
1,492,235
2,102,624
753,578
5/25/2006
Durham
NC
-
680,969
1,323,140
-
-
680,969
1,323,140
2,004,109
668,186
5/25/2006
Wilmington
NC
-
378,813
1,150,679
-
-
378,813
1,150,679
1,529,492
618,496
12/21/2004
Las Vegas
NV
-
720,000
1,660,100
1,050,000
-
720,000
2,710,100
3,430,100
431,975
10/22/2013
Huber Heights
OH
-
160,000
799,843
-
-
160,000
799,843
959,843
81,317
6/30/2016
Moraine
OH
-
170,000
873,745
-
-
170,000
873,745
1,043,745
88,831
6/30/2016
Bartlett
TN
-
648,526
1,960,733
-
-
648,526
1,960,733
2,609,259
1,101,500
10/27/2003
Nashville
TN
-
1,830,000
2,263,339
-
-
1,830,000
2,263,339
4,093,339
357,110
9/3/2014
Riverton
UT
-
1,100,000
1,576,390
-
-
1,100,000
1,576,390
2,676,390
365,230
7/26/2012
Salt Lake City
UT
-
2,900,000
1,598,391
-
-
2,900,000
1,598,391
4,498,391
435,260
10/11/2011
Automotive Parts & Accessories
Birmingham
AL
-
355,823
660,814
-
-
355,823
660,814
1,016,637
159,697
12/7/2012
Brent
AL
-
361,067
1,113,660
-
-
361,067
1,113,660
1,474,727
46,403
12/28/2017
Flomaton
AL
-
90,000
808,163
-
-
90,000
808,163
898,163
181,837
5/1/2013
Harvest
AL
-
744,737
1,537,832
-
-
744,737
1,537,832
2,282,569
366,517
1/22/2013
Hoover
AL
-
863,921
1,269,964
-
-
863,921
1,269,964
2,133,885
52,915
12/28/2017
Millbrook
AL
-
108,000
518,741
174,419
-
108,000
693,160
801,160
512,017
1/21/1999
Montgomery
AL
-
254,465
502,350
59,819
254,465
562,252
816,717
427,090
6/30/1998
Red Bay
AL
-
192,267
1,156,806
-
-
192,267
1,156,806
1,349,073
48,200
12/28/2017
Cabot
AR
-
267,787
595,578
37,463
-
267,787
633,041
900,828
121,991
2/25/2014
San Luis
AZ
-
287,508
694,650
-
-
287,508
694,650
982,158
147,034
9/26/2013
Tucson
AZ
-
194,250
431,434
-
-
194,250
431,434
625,684
431,434
10/30/1987
N/A
Grass Valley
CA
-
325,000
384,955
-
-
325,000
384,955
709,955
384,955
5/20/1988
N/A
Sacramento
CA
-
210,000
466,419
-
-
210,000
466,419
676,419
466,419
11/25/1987
N/A
Colorado Springs
CO
-
520,000
922,073
-
-
520,000
922,073
1,442,073
87,597
8/30/2016
Denver
CO
-
141,400
314,056
-
141,400
314,138
455,538
314,138
11/18/1987
N/A
Denver
CO
-
315,000
699,623
-
315,000
699,785
1,014,785
699,785
5/16/1988
N/A
Littleton
CO
-
252,925
561,758
-
252,925
561,811
814,736
561,811
2/12/1988
N/A
Smyrna
DE
-
232,273
472,855
15,774
-
232,273
488,629
720,902
395,263
8/7/1998
Apopka
FL
-
820,000
1,115,761
-
-
820,000
1,115,761
1,935,761
247,327
6/21/2013
Deerfield Beach
FL
-
475,000
871,738
2,420
-
475,000
874,158
1,349,158
690,978
1/29/1999
Jacksonville
FL
-
330,000
1,196,260
-
-
330,000
1,196,260
1,526,260
121,620
6/9/2016
Kissimmee
FL
-
1,000,000
1,169,792
-
-
1,000,000
1,169,792
2,169,792
259,304
6/21/2013
Kissimmee
FL
-
580,290
1,290,608
-
-
580,290
1,290,608
1,870,898
225,856
8/14/2014
Merritt Island
FL
-
309,652
482,459
44,387
21,831
309,652
548,676
858,328
470,498
11/26/1996
Atlanta
GA
-
652,551
763,360
27,163
45,249
652,551
835,772
1,488,323
646,216
12/18/1998
Breman
GA
-
405,663
1,251,211
-
-
405,663
1,251,211
1,656,874
52,134
12/28/2017
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Bremen
GA
-
390,000
807,036
-
-
390,000
807,036
1,197,036
44,387
8/30/2017
Byron
GA
-
359,612
868,859
-
-
359,612
868,859
1,228,471
186,805
8/5/2013
Council Bluffs
IA
-
194,355
431,668
-
-
194,355
431,668
626,023
431,668
5/19/1988
N/A
Des Moines
IA
-
441,273
981,424
-
-
441,273
981,424
1,422,697
197,921
12/6/2013
West Branch
IA
-
969,797
19,896,576
1,850,529
612,649
969,797
22,359,754
23,329,551
5,163,315
9/20/2012
Boise
ID
-
158,400
351,812
-
5,428
158,400
357,240
515,640
357,240
5/6/1988
N/A
Moscow
ID
-
117,250
260,417
-
-
117,250
260,417
377,667
260,417
9/14/1987
N/A
Quincy
IL
-
358,438
763,572
-
-
358,438
763,572
1,122,010
21,635
4/30/2018
Chicago
IL
-
760,000
1,483,800
13,325
-
760,000
1,497,125
2,257,125
244,768
12/18/2014
Chicago
IL
-
270,000
1,639,501
56,000
-
270,000
1,695,501
1,965,501
275,436
12/18/2014
Chicago
IL
-
490,000
1,533,006
13,657
-
490,000
1,546,663
2,036,663
251,469
12/18/2014
Joliet
IL
1,244,943
723,567
2,571,856
-
-
723,567
2,571,856
3,295,423
612,959
1/22/2013
Avon
IN
-
580,000
1,232,866
-
-
580,000
1,232,866
1,812,866
76,027
6/30/2017
Brazil
IN
-
183,952
453,831
76,216
-
183,952
530,047
713,999
380,541
3/31/1999
Chesterton
IN
-
293,382
708,842
-
-
293,382
708,842
1,002,224
150,038
9/27/2013
Griffith
IN
-
343,778
830,602
-
-
343,778
830,602
1,174,380
175,811
9/27/2013
Indianapolis
IN
-
243,422
541,389
24,391
-
243,422
565,780
809,202
114,031
6/6/2014
Lafayette
IN
-
540,000
730,133
-
-
540,000
730,133
1,270,133
59,628
12/16/2016
Muncie
IN
-
148,901
645,660
238,611
28,327
148,901
912,599
1,061,500
765,604
11/26/1996
Plainfield
IN
-
453,645
908,485
42,619
47,025
453,645
998,128
1,451,773
808,075
1/30/1998
Princeton
IN
-
134,209
560,113
11,238
-
134,209
571,351
705,560
446,972
3/31/1999
Vincennes
IN
-
185,312
489,779
30,324
-
185,312
520,103
705,415
402,246
3/31/1999
Hutchinson
KS
-
220,297
545,701
-
-
220,297
545,701
765,998
15,462
4/30/2018
Kansas City
KS
-
246,623
525,376
-
-
246,623
525,376
771,999
14,886
4/30/2018
Wichita
KS
-
340,945
726,307
-
-
340,945
726,307
1,067,252
20,579
4/30/2018
Wichita
KS
-
228,480
486,726
-
-
228,480
486,726
715,206
13,791
4/30/2018
Kansas City
KS
-
222,000
455,881
18,738
-
222,000
474,620
696,620
474,620
5/16/1988
N/A
Grayson
KY
-
483,607
1,103,972
-
-
483,607
1,103,972
1,587,579
45,999
12/28/2017
Harrodsburg
KY
-
262,048
1,029,125
-
-
262,048
1,029,125
1,291,173
204,110
1/3/2014
Hazard
KY
-
438,297
1,351,866
-
-
438,297
1,351,866
1,790,163
56,328
12/28/2017
Lawrenceburg
KY
-
272,228
1,069,102
-
-
272,228
1,069,102
1,341,330
208,475
2/14/2014
Lexington
KY
-
475,041
1,056,527
-
-
475,041
1,056,527
1,531,568
149,675
6/30/2015
Paris
KY
-
250,000
1,158,644
-
-
250,000
1,158,644
1,408,644
106,209
9/30/2016
Scottsville
KY
-
503,473
1,039,640
-
-
503,473
1,039,640
1,543,113
247,781
1/22/2013
Stanford
KY
-
293,686
1,153,374
-
-
293,686
1,153,374
1,447,060
213,374
5/7/2014
Abbeville
LA
-
243,413
724,139
-
-
243,413
724,139
967,552
20,517
4/30/2018
Opelousas
LA
-
325,750
693,938
-
-
325,750
693,938
1,019,688
19,662
4/30/2018
Jena
LA
-
515,608
1,110,356
-
-
515,608
1,110,356
1,625,964
46,265
12/28/2017
Jonesboro
LA
-
377,428
1,164,124
-
-
377,428
1,164,124
1,541,552
48,505
12/28/2017
Kaplan
LA
-
232,224
911,999
-
-
232,224
911,999
1,144,223
177,840
2/14/2014
Lafayette
LA
-
740,444
1,528,968
-
-
740,444
1,528,968
2,269,412
364,404
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Lafayette
LA
-
872,043
1,027,618
-
-
872,043
1,027,618
1,899,661
196,960
3/31/2014
Many
LA
-
404,922
1,248,926
-
-
404,922
1,248,926
1,653,848
52,039
12/28/2017
Rayville
LA
-
545,926
1,074,026
-
-
545,926
1,074,026
1,619,952
44,751
12/28/2017
Slidell
LA
-
629,335
1,299,536
-
-
629,335
1,299,536
1,928,871
309,723
1/22/2013
Sulphur
LA
-
290,047
700,785
12,825
-
290,047
713,610
1,003,657
153,390
8/1/2013
West Monroe
LA
-
462,715
1,394,603
-
-
462,715
1,394,603
1,857,318
332,380
1/22/2013
Winnfield
LA
-
483,489
1,103,701
-
-
483,489
1,103,701
1,587,190
45,988
12/28/2017
Alma
MI
-
155,000
600,282
15,823
-
155,000
616,104
771,104
481,929
2/10/1999
Alma
MI
-
187,704
737,155
-
-
187,704
737,155
924,859
99,516
8/21/2015
Detroit
MI
-
496,691
1,104,676
-
-
496,691
1,104,676
1,601,367
215,412
2/6/2014
Flushing
MI
-
367,724
817,846
-
-
367,724
817,846
1,185,570
151,301
5/14/2014
Lansing
MI
-
265,000
574,931
132,237
265,000
707,262
972,262
568,089
12/3/1998
Rockford
MI
-
870,632
1,726,400
-
-
870,632
1,726,400
2,597,032
411,459
1/22/2013
Roseville
MI
-
558,997
1,810,289
-
558,997
1,810,664
2,369,661
431,476
1/22/2013
Saginaw
MI
-
948,826
1,959,264
-
-
948,826
1,959,264
2,908,090
466,958
1/22/2013
Saginaw
MI
-
859,956
1,775,753
-
859,956
1,776,128
2,636,084
423,247
1/22/2013
St. Johns
MI
-
201,681
792,050
41,226
-
201,681
833,276
1,034,957
111,135
8/21/2015
Sturgis
MI
-
109,558
550,274
10,272
109,558
560,639
670,197
448,697
12/30/1998
Waterford
MI
-
995,991
2,056,657
53,844
-
995,991
2,110,501
3,106,492
499,178
1/22/2013
St. Peters
MO
-
469,776
1,044,816
-
-
469,776
1,044,816
1,514,592
193,291
5/6/2014
Crystal Springs
MS
-
514,234
1,061,859
-
-
514,234
1,061,859
1,576,093
253,076
1/22/2013
Horn Lake
MS
-
142,702
514,779
66,008
-
142,702
580,787
723,489
432,727
6/30/1998
Richland
MS
-
243,565
558,645
10,302
-
243,565
568,947
812,512
433,629
12/21/1999
Vicksburg
MS
-
631,900
1,304,832
-
-
631,900
1,304,832
1,936,732
310,985
1/22/2013
Biscoe
NC
-
340,000
1,012,799
-
-
340,000
1,012,799
1,352,799
99,592
7/29/2016
Harrisburg
NC
-
680,000
813,119
-
-
680,000
813,119
1,493,119
180,241
6/21/2013
Statesville
NC
-
503,371
1,288,415
-
-
503,371
1,288,415
1,791,786
53,684
12/28/2017
Lincoln
NE
-
345,046
735,044
-
-
345,046
735,044
1,080,090
20,826
4/30/2018
Kearney
NE
-
236,000
784,246
-
-
236,000
784,246
1,020,246
32,677
12/28/2017
Omaha
NE
-
196,000
435,321
-
196,000
435,354
631,354
435,354
5/26/1988
N/A
Omaha
NE
-
199,100
412,042
-
199,100
412,074
611,174
412,074
5/27/1988
N/A
Artesia
NM
-
400,000
807,227
-
-
400,000
807,227
1,207,227
178,935
6/21/2013
Bloomfield
NM
-
457,743
1,143,268
-
-
457,743
1,143,268
1,601,011
47,636
12/28/2017
Las Cruces
NM
-
370,000
1,010,676
-
-
370,000
1,010,676
1,380,676
224,033
6/21/2013
Rio Rancho
NM
-
211,577
469,923
-
-
211,577
469,923
681,500
469,923
2/26/1988
N/A
Santa Fe
NM
-
550,775
1,224,964
-
-
550,775
1,224,964
1,775,739
255,201
10/11/2013
Fernley
NV
-
300,000
1,027,155
-
-
300,000
1,027,155
1,327,155
227,686
6/21/2013
Las Vegas
NV
-
161,000
357,585
260,000
-
161,000
617,585
778,585
611,714
10/29/1987
Dunkirk
NY
-
631,375
1,303,749
-
-
631,375
1,303,749
1,935,124
310,727
1/22/2013
Akron
OH
-
264,619
588,531
-
-
264,619
588,531
853,150
83,375
6/9/2015
Canton
OH
-
396,560
597,553
-
25,452
396,560
623,005
1,019,565
499,569
8/14/1998
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Centerville
OH
-
601,408
758,192
9,017
38,193
601,408
805,402
1,406,810
647,907
6/30/1998
Delaware
OH
-
240,000
705,447
43,393
-
240,000
748,840
988,840
97,115
8/14/2015
Hamilton
OH
-
183,000
515,727
6,508
-
183,000
522,235
705,235
411,265
12/3/1998
Middlefield
OH
-
258,980
1,017,075
-
-
258,980
1,017,075
1,276,055
184,769
6/30/2014
Mt. Orab
OH
-
360,434
1,111,707
-
-
360,434
1,111,707
1,472,141
46,321
12/28/2017
New Lexington
OH
-
290,000
955,997
9,544
-
290,000
965,541
1,255,541
91,317
8/23/2016
Oberlin
OH
-
212,325
1,026,562
-
-
212,325
1,026,562
1,238,887
210,445
11/7/2013
Toledo
OH
-
130,000
1,562,052
-
-
130,000
1,562,052
1,692,052
356,669
4/12/2013
Toledo
OH
-
140,000
1,059,979
-
-
140,000
1,059,979
1,199,979
242,029
4/12/2013
Waverly
OH
-
176,895
694,710
5,225
-
176,895
699,935
876,830
94,276
8/19/2015
Tulsa
OK
-
262,685
559,592
-
-
262,685
559,592
822,277
15,855
4/30/2018
Del City
OK
-
634,664
1,178,662
-
-
634,664
1,178,662
1,813,326
284,843
12/7/2012
Oklahoma City
OK
-
602,052
1,118,096
-
-
602,052
1,118,096
1,720,148
259,026
3/1/2013
Albany
OR
-
152,250
338,153
-
152,250
338,211
490,461
338,211
8/24/1987
N/A
Beaverton
OR
-
210,000
466,419
-
210,000
466,476
676,476
466,476
8/26/1987
N/A
Portland
OR
-
190,750
423,664
-
190,750
423,721
614,471
423,721
8/12/1987
N/A
Portland
OR
-
147,000
326,493
-
147,000
326,551
473,551
326,551
8/26/1987
N/A
Salem
OR
-
136,500
303,170
-
136,500
303,228
439,728
303,228
8/20/1987
N/A
Butler
PA
-
339,929
633,078
47,758
-
339,929
680,836
1,020,765
550,389
8/7/1998
Carnegie
PA
-
260,000
1,208,582
116,847
-
260,000
1,325,429
1,585,429
118,966
8/23/2016
Dover
PA
-
265,112
593,341
7,926
-
265,112
601,266
866,378
488,782
6/30/1998
Enola
PA
-
220,228
546,026
11,416
220,228
557,614
777,842
448,741
11/10/1998
Hanover
PA
-
132,500
719,511
9,982
-
132,500
729,492
861,992
563,561
5/13/1999
Harrisburg
PA
-
327,781
608,291
10,681
327,781
619,143
946,924
506,341
6/30/1998
Harrisburg
PA
-
283,417
352,473
10,519
283,417
363,164
646,581
289,877
9/30/1998
Lancaster
PA
-
199,899
774,838
143,397
-
199,899
918,234
1,118,133
665,074
8/14/1998
Lebanon
PA
-
360,751
802,338
23,614
-
360,751
825,952
1,186,703
141,413
11/21/2014
New Castle
PA
-
180,009
525,774
91,802
-
180,009
617,576
797,585
499,600
6/30/1998
Reading
PA
-
379,000
658,722
43,750
-
379,000
702,472
1,081,472
538,190
12/4/1998
Guayama
PR
939,579
874,937
1,806,689
-
-
874,937
1,806,689
2,681,626
430,594
1/22/2013
Humacao
PR
1,432,858
1,161,891
2,399,229
-
-
1,161,891
2,399,229
3,561,120
571,816
1/22/2013
Ponce
PR
1,714,732
1,321,292
2,728,382
-
-
1,321,292
2,728,382
4,049,674
650,265
1/22/2013
San Juan
PR
1,432,858
1,158,525
2,392,278
-
-
1,158,525
2,392,278
3,550,803
570,160
1/22/2013
Cheraw
SC
-
330,016
1,146,257
-
-
330,016
1,146,257
1,476,273
47,761
12/28/2017
Chester
SC
-
132,006
518,420
79,252
-
132,006
597,673
729,679
100,309
6/30/2014
Columbia
SC
-
474,027
1,427,348
-
-
474,027
1,427,348
1,901,375
340,184
1/22/2013
Gaston
SC
-
250,000
956,334
-
-
250,000
956,334
1,206,334
97,227
6/9/2016
Manning
SC
-
260,000
999,132
-
-
260,000
999,132
1,259,132
98,248
7/29/2016
Winnsboro
SC
-
90,000
921,541
-
-
90,000
921,541
1,011,541
93,690
6/9/2016
York
SC
-
198,409
779,197
-
-
198,409
779,197
977,606
141,554
6/30/2014
Arlington
TN
-
381,083
707,726
-
-
381,083
707,726
1,088,809
171,034
12/7/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Columbia
TN
-
273,120
431,716
53,058
-
273,120
484,774
757,894
339,557
6/30/1999
Decatur
TN
-
180,000
880,938
4,000
-
180,000
884,938
1,064,938
160,412
6/30/2014
Erwin
TN
-
656,324
989,778
-
-
656,324
989,778
1,646,102
41,241
12/28/2017
McKenzie
TN
-
234,502
1,086,828
-
-
234,502
1,086,828
1,321,330
45,285
12/28/2017
Cleburne
TX
-
315,281
671,638
-
-
315,281
671,638
986,919
19,030
4/30/2018
Denison
TX
-
261,794
557,694
-
-
261,794
557,694
819,488
15,801
4/30/2018
Gainesville
TX
-
270,352
804,280
-
-
270,352
804,280
1,074,632
22,788
4/30/2018
Grand Prairie
TX
-
373,379
795,401
-
-
373,379
795,401
1,168,780
22,536
4/30/2018
Houston
TX
-
385,834
821,933
-
-
385,834
821,933
1,207,767
23,288
4/30/2018
Hurst
TX
-
313,419
667,669
-
-
313,419
667,669
981,088
18,917
4/30/2018
Marshall
TX
-
289,008
615,668
-
-
289,008
615,668
904,676
17,444
4/30/2018
McAllen
TX
-
340,587
725,546
-
-
340,587
725,546
1,066,133
20,557
4/30/2018
McKinney
TX
-
356,079
758,547
-
-
356,079
758,547
1,114,626
21,492
4/30/2018
Mission
TX
-
337,741
719,482
-
-
337,741
719,482
1,057,223
20,385
4/30/2018
Mt. Pleasant
TX
-
221,998
660,431
-
-
221,998
660,431
882,429
18,712
4/30/2018
Palestine
TX
-
228,831
680,759
-
-
228,831
680,759
909,590
19,288
4/30/2018
Pasadena
TX
-
378,093
805,444
-
-
378,093
805,444
1,183,537
22,821
4/30/2018
San Antonio
TX
-
402,001
856,374
-
-
402,001
856,374
1,258,375
24,264
4/30/2018
San Antonio
TX
-
363,530
774,421
-
-
363,530
774,421
1,137,951
21,942
4/30/2018
Sulphur Springs
TX
-
270,623
805,086
-
-
270,623
805,086
1,075,709
22,811
4/30/2018
Terrell
TX
-
310,622
672,072
-
-
310,622
672,072
982,694
19,042
4/30/2018
Tyler
TX
-
277,970
592,154
-
-
277,970
592,154
870,124
16,778
4/30/2018
Tyler
TX
-
400,906
854,042
-
-
400,906
854,042
1,254,948
24,198
4/30/2018
Waxahachie
TX
-
334,601
712,793
-
-
334,601
712,793
1,047,394
20,196
4/30/2018
Weatherford
TX
-
329,496
701,919
-
-
329,496
701,919
1,031,415
19,888
4/30/2018
Wichita Falls
TX
-
295,353
629,185
-
-
295,353
629,185
924,538
17,827
4/30/2018
Wichita Falls
TX
-
313,364
667,554
-
-
313,364
667,554
980,918
18,914
4/30/2018
Wichita Falls
TX
-
662,512
685,201
-
-
662,512
685,201
1,347,713
19,414
4/30/2018
Alpine
TX
-
260,251
1,081,899
-
-
260,251
1,081,899
1,342,150
45,079
12/28/2017
Brownsville
TX
-
517,374
881,737
-
-
517,374
881,737
1,399,111
36,739
12/28/2017
Carrizo Springs
TX
-
418,555
1,290,972
-
-
418,555
1,290,972
1,709,527
53,791
12/28/2017
Castroville
TX
-
520,344
1,187,835
-
-
520,344
1,187,835
1,708,179
49,493
12/28/2017
Channelview
TX
-
483,804
1,168,921
-
-
483,804
1,168,921
1,652,725
251,318
8/14/2013
Cotulla
TX
-
379,438
978,336
-
-
379,438
978,336
1,357,774
40,764
12/28/2017
Dallas
TX
-
562,612
1,251,290
-
-
562,612
1,251,290
1,813,902
223,147
7/18/2014
Denton
TX
-
368,635
1,047,327
-
-
368,635
1,047,327
1,415,962
214,702
11/15/2013
Edinburg
TX
-
320,000
963,916
-
-
320,000
963,916
1,283,916
213,668
6/21/2013
Fabens
TX
-
496,612
1,133,658
-
-
496,612
1,133,658
1,630,270
47,236
12/28/2017
George West
TX
-
316,261
913,885
-
-
316,261
913,885
1,230,146
38,079
12/28/2017
Grand Prairie
TX
-
574,574
1,277,896
1,455
-
574,574
1,279,351
1,853,925
219,509
9/5/2014
Hallettsville
TX
-
237,572
932,999
18,920
-
237,572
951,919
1,189,491
196,847
10/11/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Houston
TX
-
702,326
1,017,275
-
-
702,326
1,017,275
1,719,601
42,387
12/28/2017
Katy
TX
-
558,684
1,242,555
-
-
558,684
1,242,555
1,801,239
225,731
6/30/2014
Laredo
TX
-
807,044
1,498,795
-
-
807,044
1,498,795
2,305,839
362,209
12/7/2012
Lytle
TX
-
422,184
1,302,167
-
-
422,184
1,302,167
1,724,351
54,257
12/28/2017
Richmond
TX
-
441,254
1,253,642
-
-
441,254
1,253,642
1,694,896
261,176
10/24/2013
Rio Grand City
TX
-
546,922
817,101
-
-
546,922
817,101
1,364,023
34,046
12/28/2017
Roma
TX
-
200,000
1,004,538
-
-
200,000
1,004,538
1,204,538
222,673
6/21/2013
San Benito
TX
-
449,015
998,643
-
-
449,015
998,643
1,447,658
208,051
10/11/2013
Schulenburg
TX
-
467,001
1,026,340
-
-
467,001
1,026,340
1,493,341
42,764
12/28/2017
Slaton
TX
-
458,868
1,047,498
-
-
458,868
1,047,498
1,506,366
43,646
12/28/2017
Richmond
VA
-
366,287
814,648
26,950
-
366,287
841,598
1,207,885
115,733
6/25/2015
Bellevue
WA
-
185,500
411,997
-
185,500
412,103
597,603
412,103
8/6/1987
N/A
Bellingham
WA
-
168,000
373,133
-
168,000
373,239
541,239
373,239
8/20/1987
N/A
East Wenatchee
WA
-
148,400
329,602
-
148,400
329,709
478,109
329,709
8/25/1987
N/A
Kenmore
WA
-
199,500
443,098
-
199,500
443,204
642,704
443,204
8/20/1987
N/A
Kent
WA
-
199,500
443,091
-
199,500
443,198
642,698
443,198
8/6/1987
N/A
Moses Lake
WA
-
138,600
307,831
-
138,600
307,938
446,538
307,938
8/12/1987
N/A
Renton
WA
-
185,500
412,003
-
185,500
412,110
597,610
412,110
9/15/1987
N/A
Seattle
WA
-
162,400
360,697
-
162,400
360,804
523,204
360,804
8/20/1987
N/A
Silverdale
WA
-
183,808
419,777
-
183,808
419,883
603,691
419,883
9/16/1987
N/A
Tacoma
WA
-
191,800
425,996
-
191,800
426,102
617,902
426,102
8/18/1987
N/A
Tacoma
WA
-
196,000
435,324
-
196,000
435,431
631,431
435,431
10/15/1987
N/A
Vancouver
WA
-
180,250
400,343
-
180,250
400,400
580,650
400,400
8/20/1987
N/A
Vancouver
WA
-
168,000
373,135
-
168,000
373,193
541,193
373,193
5/23/1988
N/A
Viroqua
WI
-
130,000
751,418
-
-
130,000
751,418
881,418
169,069
5/1/2013
Wausau
WI
-
499,159
1,138,765
6,800
-
499,159
1,145,565
1,644,724
140,644
12/23/2015
Kenova
WV
-
407,319
1,339,866
-
-
407,319
1,339,866
1,747,185
55,828
12/28/2017
Nutter Fort
WV
-
380,000
723,892
40,697
-
380,000
764,589
1,144,589
61,711
12/21/2016
Oak Hill
WV
-
388,540
1,198,398
-
-
388,540
1,198,398
1,586,938
49,933
12/28/2017
Automotive Service
Flagstaff
AZ
-
144,821
417,485
8,150
144,821
425,671
570,492
348,013
8/29/1997
Mesa
AZ
-
210,620
475,072
-
-
210,620
475,072
685,692
315,919
5/14/2002
Phoenix
AZ
-
189,341
546,984
-
-
189,341
546,984
736,325
363,745
5/14/2002
Phoenix
AZ
-
384,608
279,824
-
-
384,608
279,824
664,432
186,081
5/14/2002
Sierra Vista
AZ
-
175,114
345,508
-
-
175,114
345,508
520,622
229,761
5/14/2002
Tucson
AZ
-
226,596
437,972
-
-
226,596
437,972
664,568
291,249
5/14/2002
Bakersfield
CA
-
65,165
206,927
-
-
65,165
206,927
272,092
137,605
5/14/2002
Bakersfield
CA
-
940,000
1,463,025
-
-
940,000
1,463,025
2,403,025
104,850
3/28/2017
Bakersfield
CA
-
980,000
1,487,009
-
-
980,000
1,487,009
2,467,009
106,569
3/28/2017
Bakersfield
CA
-
860,000
1,926,663
-
-
860,000
1,926,663
2,786,663
138,078
3/28/2017
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Bakersfield
CA
-
890,000
1,134,618
-
-
890,000
1,134,618
2,024,618
81,314
3/28/2017
Bakersfield
CA
-
1,330,000
2,443,052
-
-
1,330,000
2,443,052
3,773,052
134,368
8/22/2017
Chula Vista
CA
-
313,293
409,654
26,019
313,293
435,850
749,143
374,260
1/19/1996
Dublin
CA
-
415,620
1,153,928
-
-
415,620
1,153,928
1,569,548
767,360
5/14/2002
Folsom
CA
-
471,813
325,610
-
-
471,813
325,610
797,423
216,529
5/14/2002
Indio
CA
-
264,956
265,509
-
-
264,956
265,509
530,465
176,561
5/14/2002
Lancaster
CA
-
730,000
1,462,400
-
-
730,000
1,462,400
2,192,400
104,805
3/28/2017
Los Angeles
CA
-
580,446
158,876
-
-
580,446
158,876
739,322
105,651
5/14/2002
Oxnard
CA
-
186,980
198,236
-
-
186,980
198,236
385,216
131,825
5/14/2002
Palmdale
CA
-
1,010,000
2,313,240
-
-
1,010,000
2,313,240
3,323,240
165,782
3/28/2017
Simi Valley
CA
-
213,920
161,012
-
-
213,920
161,012
374,932
107,071
5/14/2002
Stockton
CA
-
1,395,822
2,882,282
-
-
1,395,822
2,882,282
4,278,104
686,944
1/22/2013
Vacaville
CA
-
358,067
284,931
-
-
358,067
284,931
642,998
189,477
5/14/2002
Aurora
CO
-
231,314
430,495
-
231,314
430,610
661,924
194,555
9/4/2007
Broomfield
CO
-
154,930
503,626
-
2,667
154,930
506,294
661,224
453,354
3/15/1996
Colorado Springs
CO
-
1,700,706
2,042,960
-
-
1,700,706
2,042,960
3,743,666
10,215
11/16/2018
Denver
CO
-
79,717
369,587
-
79,717
369,666
449,383
369,666
10/8/1985
N/A
Denver
CO
-
239,024
444,785
-
239,024
444,900
683,924
201,009
9/4/2007
Lakewood
CO
-
70,422
132,296
-
-
70,422
132,296
202,718
59,754
9/4/2007
Thornton
CO
-
276,084
415,464
-
276,084
415,779
691,863
365,008
10/31/1996
Cheshire
CT
-
531,812
545,860
-
-
531,812
545,860
1,077,672
20,925
1/12/2018
Southington
CT
-
225,882
672,910
-
225,882
673,082
898,964
579,885
6/6/1997
Vernon
CT
-
81,529
300,518
-
-
81,529
300,518
382,047
198,843
6/27/2002
Jacksonville
FL
-
76,585
355,066
28,668
76,585
383,912
460,497
363,889
12/23/1985
Miami Gardens
FL
-
163,239
262,726
-
-
163,239
262,726
425,965
173,837
6/27/2002
Orange City
FL
-
99,613
139,008
-
-
99,613
139,008
238,621
92,438
5/14/2002
Atlanta
GA
-
309,474
574,737
-
-
309,474
574,737
884,211
202,116
3/25/2010
Bogart
GA
-
66,807
309,733
-
-
66,807
309,733
376,540
309,733
12/20/1985
N/A
Duluth
GA
-
222,275
316,925
2,288
222,275
319,301
541,576
267,331
6/20/1997
Duluth
GA
-
290,842
110,056
-
-
290,842
110,056
400,898
73,185
5/14/2002
Kennesaw
GA
-
266,865
139,425
-
-
266,865
139,425
406,290
92,716
5/14/2002
Marietta
GA
-
69,561
346,024
-
69,561
346,065
415,626
346,065
6/3/1986
N/A
Norcross
GA
-
244,124
151,831
-
-
244,124
151,831
395,955
100,966
5/14/2002
Norcross
GA
-
503,773
937,121
39,032
-
503,773
976,153
1,479,926
484,583
11/22/2006
Riverdale
GA
-
58,444
270,961
-
-
58,444
270,961
329,405
270,961
1/15/1986
N/A
Snellville
GA
-
253,316
132,124
-
-
253,316
132,124
385,440
87,861
5/14/2002
Tucker
GA
-
78,646
364,625
32,603
3,258
78,646
400,485
479,131
383,552
12/18/1985
Marietta
GA
-
60,900
293,461
67,871
-
60,900
361,332
422,232
339,926
12/26/1985
Arlington Hts
IL
-
441,437
215,983
-
-
441,437
215,983
657,420
143,627
5/14/2002
Chicago
IL
-
329,076
255,294
-
-
329,076
255,294
584,370
169,768
5/14/2002
Westchester
IL
-
421,239
184,812
-
-
421,239
184,812
606,051
122,898
5/14/2002
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Anderson
IN
-
232,170
385,661
-
232,170
385,840
618,010
324,780
12/19/1997
Indianapolis
IN
-
231,384
428,307
-
231,384
428,437
659,821
382,037
9/27/1996
Michigan City
IN
-
389,573
297,650
-
-
389,573
297,650
687,223
197,936
5/14/2002
Warsaw
IN
-
140,893
228,116
-
-
140,893
228,116
369,009
151,696
5/14/2002
Topeka
KS
-
32,022
60,368
-
-
32,022
60,368
92,390
27,266
9/4/2007
Wichita
KS
-
787,377
1,463,936
78,745
70,913
787,377
1,613,594
2,400,971
770,617
11/1/2006
Wichita
KS
-
550,000
1,103,825
-
-
550,000
1,103,825
1,653,825
57,031
9/21/2017
Louisville
KY
-
56,054
259,881
-
56,054
259,893
315,947
259,891
12/17/1985
East Wareham
MA
-
149,680
278,669
-
-
149,680
278,669
428,349
185,312
5/14/2002
Fairhaven
MA
-
138,957
289,294
-
-
138,957
289,294
428,251
192,378
5/14/2002
Gardner
MA
-
138,990
289,361
-
-
138,990
289,361
428,351
192,423
5/14/2002
Hyannis
MA
-
180,653
458,522
-
-
180,653
458,522
639,175
303,389
6/27/2002
Lenox
MA
-
287,769
535,273
-
-
287,769
535,273
823,042
423,746
3/31/1999
Newburyport
MA
-
274,698
466,449
-
-
274,698
466,449
741,147
308,634
6/27/2002
North Reading
MA
-
180,546
351,161
-
-
180,546
351,161
531,707
233,520
5/14/2002
Orleans
MA
-
138,212
394,065
-
-
138,212
394,065
532,277
262,051
5/14/2002
Teaticket
MA
-
191,302
340,539
-
-
191,302
340,539
531,841
226,457
5/14/2002
Aberdeen
MD
-
223,617
225,605
-
-
223,617
225,605
449,222
149,276
6/27/2002
Bethesda
MD
-
282,717
525,928
-
-
282,717
525,928
808,645
237,544
9/4/2007
Capitol Heights
MD
-
534,854
219,979
-
-
534,854
219,979
754,833
146,282
5/14/2002
Clinton
MD
-
70,880
328,620
11,440
-
70,880
340,060
410,940
337,295
11/15/1985
Lexington Park
MD
-
103,796
335,288
-
-
103,796
335,288
439,084
222,963
5/14/2002
Kalamazoo
MI
-
389,549
296,975
-
-
389,549
296,975
686,524
197,487
5/14/2002
Portage
MI
-
400,297
286,441
-
-
400,297
286,441
686,738
190,481
5/14/2002
Southfield
MI
-
275,952
350,765
-
-
275,952
350,765
626,717
233,257
5/14/2002
Troy
MI
-
214,893
199,299
-
-
214,893
199,299
414,192
132,532
5/14/2002
Saint Cloud
MN
-
203,338
258,626
-
-
203,338
258,626
461,964
171,125
6/27/2002
Independence
MO
-
297,641
233,152
4,467
3,958
297,641
241,577
539,218
213,988
12/20/1996
Arden
NC
-
1,010,000
1,290,755
-
-
1,010,000
1,290,755
2,300,755
66,689
9/21/2017
Asheville
NC
-
441,746
242,565
-
-
441,746
242,565
684,311
161,304
5/14/2002
Asheville
NC
-
838,421
1,558,792
27,477
838,421
1,586,749
2,425,170
763,075
11/1/2006
Asheville
NC
-
960,000
1,314,406
-
-
960,000
1,314,406
2,274,406
67,911
9/21/2017
Concord
NC
-
237,688
357,976
6,863
237,688
364,865
602,553
294,866
11/5/1997
Durham
NC
-
55,074
255,336
-
55,074
255,983
311,057
255,983
11/13/1985
N/A
Durham
NC
-
354,676
364,603
64,000
354,676
428,615
783,291
330,635
3/31/1997
Fayetteville
NC
-
224,326
257,733
-
224,326
257,865
482,191
217,040
12/3/1997
Greensboro
NC
-
286,068
244,606
-
-
286,068
244,606
530,674
162,654
5/14/2002
Matthews
NC
-
295,580
338,472
17,484
16,095
295,580
372,050
667,630
294,873
2/27/1998
Pineville
NC
-
254,460
355,630
50,770
254,460
406,424
660,884
305,500
4/16/1997
Raleigh
NC
-
89,145
413,301
-
-
89,145
413,301
502,446
413,301
10/28/1985
N/A
Raleigh
NC
-
398,694
263,621
-
-
398,694
263,621
662,315
223,603
10/1/1997
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Salisbury
NC
-
235,614
150,592
-
-
235,614
150,592
386,206
100,142
5/14/2002
Weaverville
NC
-
470,000
1,595,752
-
-
470,000
1,595,752
2,065,752
82,447
9/21/2017
Lincoln
NE
-
337,138
316,958
-
-
337,138
316,958
654,096
210,774
5/14/2002
Cherry Hill
NJ
-
463,808
862,240
-
-
463,808
862,240
1,326,048
389,445
9/4/2007
Edison
NJ
-
448,936
238,773
-
-
448,936
238,773
687,709
158,781
5/14/2002
Glassboro
NJ
-
182,013
312,480
-
-
182,013
312,480
494,493
206,757
6/27/2002
Hamilton Square
NJ
-
422,477
291,555
-
-
422,477
291,555
714,032
193,880
5/14/2002
Randolph
NJ
-
452,629
390,163
-
-
452,629
390,163
842,792
259,456
5/14/2002
Trenton
NJ
-
265,238
298,167
-
-
265,238
298,167
563,405
198,277
5/14/2002
West Deptford
NJ
-
212,788
320,283
-
-
212,788
320,283
533,071
212,985
5/14/2002
Westfield
NJ
-
705,337
288,720
-
-
705,337
288,720
994,057
191,994
5/14/2002
Albuquerque
NM
-
231,553
430,026
-
-
231,553
430,026
661,579
151,226
3/25/2010
Las Vegas
NV
-
326,879
359,101
-
-
326,879
359,101
685,980
238,800
5/14/2002
Las Vegas
NV
-
316,441
369,768
-
-
316,441
369,768
686,209
245,894
5/14/2002
Las Vegas
NV
-
252,169
562,715
-
-
252,169
562,715
814,884
374,203
5/14/2002
Las Vegas
NV
-
1,940,015
3,624,877
-
-
1,940,015
3,624,877
5,564,892
863,929
1/22/2013
Sparks
NV
-
326,813
306,311
-
-
326,813
306,311
633,124
203,695
5/14/2002
Bethpage
NY
-
334,120
621,391
-
-
334,120
621,391
955,511
280,661
9/4/2007
East Amherst
NY
-
260,708
484,788
-
-
260,708
484,788
745,496
383,782
3/31/1999
East Syracuse
NY
-
250,609
466,264
-
-
250,609
466,264
716,873
369,114
3/31/1999
Freeport
NY
-
134,828
251,894
-
-
134,828
251,894
386,722
113,772
9/4/2007
Johnson City
NY
-
242,863
451,877
-
-
242,863
451,877
694,740
357,725
3/31/1999
Queens Village
NY
-
242,775
451,749
-
-
242,775
451,749
694,524
204,040
9/4/2007
Riverhead
NY
-
143,929
268,795
-
-
143,929
268,795
412,724
121,405
9/4/2007
West Amherst
NY
-
268,692
499,619
-
-
268,692
499,619
768,311
395,523
3/31/1999
Beavercreek
OH
-
205,000
492,538
-
-
205,000
492,538
697,538
429,328
9/9/1996
Canal Winchester
OH
-
443,751
825,491
-
-
443,751
825,491
1,269,242
528,088
8/21/2002
Centerville
OH
-
305,000
420,448
-
-
305,000
420,448
725,448
377,703
6/28/1996
Cincinnati
OH
-
211,185
392,210
-
-
211,185
392,210
603,395
237,287
11/3/2003
Cincinnati
OH
-
305,556
244,662
-
-
305,556
244,662
550,218
139,865
9/17/2004
Cincinnati
OH
-
589,286
160,932
-
-
589,286
160,932
750,218
91,999
9/17/2004
Cincinnati
OH
-
159,375
265,842
-
-
159,375
265,842
425,217
151,973
9/17/2004
Cincinnati
OH
-
350,000
300,217
-
-
350,000
300,217
650,217
168,622
12/20/2004
Cleveland
OH
-
337,593
451,944
-
-
337,593
451,944
789,537
282,465
5/27/2003
Cleveland
OH
-
317,308
307,842
-
-
317,308
307,842
625,150
175,983
9/17/2004
Columbus
OH
-
71,098
329,627
-
-
71,098
329,627
400,725
329,627
10/2/1985
N/A
Columbus
OH
-
75,761
351,247
-
-
75,761
351,247
427,008
351,247
10/24/1985
N/A
Columbus
OH
-
432,110
386,553
-
-
432,110
386,553
818,663
241,595
5/27/2003
Columbus
OH
-
466,696
548,133
-
-
466,696
548,133
1,014,829
342,582
5/27/2003
Columbus
OH
-
337,679
272,484
-
-
337,679
272,484
610,163
155,770
9/17/2004
Columbus
OH
-
190,000
260,162
-
-
190,000
260,162
450,162
148,726
9/17/2004
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Columbus
OH
-
371,429
278,734
-
-
371,429
278,734
650,163
159,342
9/17/2004
Cuyahoga Falls
OH
-
253,750
271,400
-
-
253,750
271,400
525,150
155,150
9/17/2004
Dayton
OH
-
70,000
324,538
-
-
70,000
324,538
394,538
324,538
10/31/1985
N/A
Dayton
OH
-
349,091
251,127
-
-
349,091
251,127
600,218
143,560
9/17/2004
Dublin
OH
-
437,887
428,046
-
-
437,887
428,046
865,933
267,528
5/27/2003
Fairfield
OH
-
323,408
235,024
44,232
3,330
323,408
282,586
605,994
229,295
9/17/1997
Fairlawn
OH
-
280,000
270,150
-
-
280,000
270,150
550,150
154,435
9/17/2004
Findlay
OH
-
283,515
397,004
52,897
16,801
283,515
466,703
750,218
342,525
12/24/1997
Hamilton
OH
-
252,608
413,279
-
-
252,608
413,279
665,887
356,105
10/4/1996
Huber Heights
OH
-
282,000
449,381
-
-
282,000
449,381
731,381
394,706
7/18/1996
Lima
OH
-
241,132
114,085
-
-
241,132
114,085
355,217
65,219
9/17/2004
Marion
OH
-
100,000
275,162
-
-
100,000
275,162
375,162
154,549
12/20/2004
Mason
OH
-
310,990
405,373
-
-
310,990
405,373
716,363
253,357
5/27/2003
Mount Vernon
OH
-
216,115
375,357
-
216,115
375,471
591,586
316,039
12/30/1997
Norwalk
OH
-
200,205
366,000
-
200,205
366,113
566,318
308,162
12/19/1997
Parma
OH
-
268,966
381,184
-
-
268,966
381,184
650,150
217,910
9/17/2004
Reynoldsburg
OH
-
267,750
497,371
-
-
267,750
497,371
765,121
284,331
9/15/2004
Reynoldsburg
OH
-
374,000
176,162
-
-
374,000
176,162
550,162
100,706
9/17/2004
Sandusky
OH
-
264,708
404,011
-
264,708
404,125
668,833
340,160
12/19/1997
Solon
OH
-
794,305
222,797
-
-
794,305
222,797
1,017,102
139,248
5/27/2003
Springboro
OH
-
191,911
522,902
-
-
191,911
522,902
714,813
455,637
3/7/1997
Springfield
OH
-
320,000
280,217
-
-
320,000
280,217
600,217
160,191
9/17/2004
Springfield
OH
-
189,091
136,127
-
-
189,091
136,127
325,218
77,819
9/17/2004
Stow
OH
-
310,000
415,150
-
-
310,000
415,150
725,150
237,327
9/17/2004
Toledo
OH
-
120,000
230,217
-
-
120,000
230,217
350,217
131,607
9/17/2004
Toledo
OH
-
250,000
175,217
-
-
250,000
175,217
425,217
100,166
9/17/2004
Toledo
OH
-
320,000
280,217
-
-
320,000
280,217
600,217
160,191
9/17/2004
Toledo
OH
-
250,000
530,217
-
-
250,000
530,217
780,217
303,107
9/17/2004
West Chester
OH
-
446,449
768,644
-
-
446,449
768,644
1,215,093
474,382
3/11/2003
Willowick
OH
-
321,347
459,774
-
-
321,347
459,774
781,121
423,758
12/22/1995
Zanesville
OH
-
125,000
300,162
-
-
125,000
300,162
425,162
171,592
9/17/2004
Tulsa
OK
-
133,648
249,702
-
133,648
249,754
383,402
112,800
9/4/2007
Portland
OR
-
251,499
345,952
-
251,499
346,010
597,509
224,985
9/26/2002
Salem
OR
-
337,711
253,855
-
337,711
253,913
591,624
168,870
5/14/2002
Bethel Park
PA
-
299,595
331,264
-
299,595
331,378
630,973
278,935
12/19/1997
Bethlehem
PA
-
275,328
389,067
-
275,328
389,239
664,567
327,642
12/19/1997
Bethlehem
PA
-
229,162
310,526
-
229,162
310,698
539,860
261,527
12/24/1997
Bridgeville
PA
-
275,000
375,150
-
-
275,000
375,150
650,150
214,460
9/17/2004
Coraopolis
PA
-
225,000
375,150
-
-
225,000
375,150
600,150
214,460
9/17/2004
Harrisburg
PA
-
129,014
220,317
-
-
129,014
220,317
349,331
146,507
5/14/2002
Monroeville
PA
-
275,000
250,150
-
-
275,000
250,150
525,150
143,002
9/17/2004
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
North Wales
PA
-
2,813,873
4,379,809
-
-
2,813,873
4,379,809
7,193,682
1,043,855
1/22/2013
Pittsburgh
PA
-
378,715
685,374
-
-
378,715
685,374
1,064,089
443,562
1/17/2002
Pittsburgh
PA
-
219,938
408,466
-
-
219,938
408,466
628,404
247,122
11/3/2003
Pittsburgh
PA
-
175,000
300,150
-
-
175,000
300,150
475,150
171,585
9/17/2004
Pittsburgh
PA
-
243,750
406,400
-
-
243,750
406,400
650,150
232,325
9/17/2004
Pittsburgh
PA
-
208,333
416,817
-
-
208,333
416,817
625,150
238,280
9/17/2004
Pittsburgh
PA
-
121,429
303,721
-
-
121,429
303,721
425,150
173,627
9/17/2004
Warminster
PA
-
319,918
216,999
-
-
319,918
216,999
536,917
144,301
5/14/2002
Wexford
PA
-
284,375
240,775
-
-
284,375
240,775
525,150
137,643
9/17/2004
York
PA
-
249,436
347,424
-
249,436
347,595
597,031
292,588
12/30/1997
Charleston
SC
-
217,250
294,079
6,700
217,250
300,938
518,188
256,098
3/13/1997
Columbia
SC
-
267,622
298,594
4,116
-
267,622
302,710
570,332
249,287
11/5/1997
Greenville
SC
-
221,946
315,163
-
-
221,946
315,163
537,109
267,335
3/31/1997
Lexington
SC
-
241,534
342,182
-
-
241,534
342,182
583,716
269,898
9/24/1998
North Charleston
SC
-
174,980
341,466
14,074
174,980
355,692
530,672
286,012
3/12/1998
Sioux Falls
SD
-
48,833
91,572
-
-
48,833
91,572
140,405
41,360
9/4/2007
Antioch
TN
-
400,000
781,228
-
-
400,000
781,228
1,181,228
118,486
3/24/2015
Athens
TN
-
760,000
1,068,639
-
-
760,000
1,068,639
1,828,639
55,213
9/21/2017
Brentwood
TN
-
305,546
505,728
-
-
305,546
505,728
811,274
423,961
5/28/1997
Columbia
TN
-
540,000
749,813
-
-
540,000
749,813
1,289,813
113,722
3/24/2015
Gallatin
TN
-
720,000
862,737
-
-
720,000
862,737
1,582,737
130,848
3/24/2015
Hendersonville
TN
-
175,764
327,096
-
-
175,764
327,096
502,860
208,796
1/21/2003
Hendersonville
TN
-
680,000
972,437
-
-
680,000
972,437
1,652,437
147,486
3/24/2015
Hermitage
TN
-
204,296
172,695
-
-
204,296
172,695
376,991
114,840
5/14/2002
Hermitage
TN
-
480,000
789,017
-
-
480,000
789,017
1,269,017
119,668
3/24/2015
Knoxville
TN
-
1,570,000
1,822,418
-
-
1,570,000
1,822,418
3,392,418
94,158
9/21/2017
Madison
TN
-
175,769
327,068
-
-
175,769
327,068
502,837
208,778
1/21/2003
Maryville
TN
-
1,090,000
1,092,328
-
-
1,090,000
1,092,328
2,182,328
56,437
9/21/2017
Memphis
TN
-
108,094
217,079
-
-
108,094
217,079
325,173
144,355
5/14/2002
Memphis
TN
-
214,110
193,591
-
-
214,110
193,591
407,701
128,735
5/14/2002
Memphis
TN
-
215,017
216,794
-
-
215,017
216,794
431,811
143,446
6/27/2002
Mount Juliet
TN
-
540,000
929,909
-
-
540,000
929,909
1,469,909
141,036
3/24/2015
Murfreesboro
TN
-
150,411
215,528
-
-
150,411
215,528
365,939
143,324
5/14/2002
Murfreesboro
TN
-
563,164
814,275
-
-
563,164
814,275
1,377,439
123,498
3/24/2015
Murfreesboro
TN
-
550,000
851,709
-
-
550,000
851,709
1,401,709
129,176
3/24/2015
Nashville
TN
-
342,960
227,440
-
-
342,960
227,440
570,400
193,653
9/17/1997
Nashville
TN
-
600,000
752,612
-
-
600,000
752,612
1,352,612
114,146
3/24/2015
Nashville
TN
-
510,210
792,902
-
-
510,210
792,902
1,303,112
120,257
3/24/2015
Nashville
TN
-
568,793
822,413
-
-
568,793
822,413
1,391,206
124,733
3/24/2015
Oak Ridge
TN
-
750,000
1,030,152
-
-
750,000
1,030,152
1,780,152
53,225
9/21/2017
Ooltewah
TN
-
940,000
1,193,572
-
-
940,000
1,193,572
2,133,572
61,668
9/21/2017
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Smyrna
TN
-
560,000
874,142
-
-
560,000
874,142
1,434,142
132,578
3/24/2015
Carrollton
TX
-
174,284
98,623
-
-
174,284
98,623
272,907
65,582
5/14/2002
Carrollton
TX
-
177,041
199,088
-
-
177,041
199,088
376,129
132,392
5/14/2002
Copperas Cove
TX
-
820,000
1,069,475
-
-
820,000
1,069,475
1,889,475
101,600
8/9/2016
Dallas
TX
-
234,604
325,951
12,719
15,373
234,604
354,044
588,648
309,219
2/19/1996
Fort Worth
TX
-
83,530
111,960
-
-
83,530
111,960
195,490
74,452
5/14/2002
Helotes
TX
-
1,360,000
1,032,521
-
-
1,360,000
1,032,521
2,392,521
53,347
9/21/2017
Houston
TX
-
285,000
369,697
-
285,000
370,008
655,008
313,847
8/8/1997
Houston
TX
-
2,350,000
1,115,798
-
-
2,350,000
1,115,798
3,465,798
120,878
4/5/2016
Humble
TX
-
257,169
325,652
-
-
257,169
325,652
582,821
216,557
5/14/2002
Killeen
TX
-
710,000
991,863
-
-
710,000
991,863
1,701,863
94,227
8/9/2016
Killeen
TX
-
210,000
1,596,000
-
-
210,000
1,596,000
1,806,000
151,620
8/9/2016
Lake Jackson
TX
-
197,170
256,376
-
-
197,170
256,376
453,546
170,488
5/14/2002
Lewisville
TX
-
199,942
324,736
-
-
199,942
324,736
524,678
290,638
2/14/1996
Lewisville
TX
-
130,238
207,683
-
-
130,238
207,683
337,921
137,417
6/27/2002
Pflugerville
TX
-
410,000
1,356,656
-
-
410,000
1,356,656
1,766,656
128,882
8/9/2016
Temple
TX
-
530,000
1,453,900
-
-
530,000
1,453,900
1,983,900
138,120
8/9/2016
Waco
TX
-
232,105
431,053
-
-
232,105
431,053
663,158
151,587
3/25/2010
American Fork
UT
-
849,848
2,561,827
-
-
849,848
2,561,827
3,411,675
542,253
9/26/2013
Cottonwood Hghts
UT
-
720,000
1,734,194
-
-
720,000
1,734,194
2,454,194
170,529
7/20/2016
Draper
UT
-
1,220,000
1,574,521
-
-
1,220,000
1,574,521
2,794,521
154,828
7/20/2016
Layton
UT
-
390,000
1,575,711
-
-
390,000
1,575,711
1,965,711
254,740
12/16/2014
Park City
UT
-
780,000
1,082,808
-
-
780,000
1,082,808
1,862,808
175,054
12/16/2014
South Jordan
UT
-
1,620,150
1,879,850
-
-
1,620,150
1,879,850
3,500,000
391,635
10/15/2013
Chesapeake
VA
-
620,000
878,059
-
-
620,000
878,059
1,498,059
62,928
3/9/2017
Chesapeake
VA
-
1,030,000
423,911
-
-
1,030,000
423,911
1,453,911
30,380
3/9/2017
Chesapeake
VA
-
750,000
806,516
-
-
750,000
806,516
1,556,516
57,800
3/9/2017
Chesapeake
VA
-
1,300,000
1,889,265
-
-
1,300,000
1,889,265
3,189,265
135,397
3/9/2017
Hampton
VA
-
710,000
734,904
-
-
710,000
734,904
1,444,904
52,668
3/9/2017
Hampton
VA
-
460,000
329,113
-
-
460,000
329,113
789,113
23,586
3/9/2017
Hampton
VA
-
720,000
835,007
-
-
720,000
835,007
1,555,007
59,842
3/9/2017
Newport news
VA
-
450,000
830,388
-
-
450,000
830,388
1,280,388
59,511
3/9/2017
Newport News
VA
-
350,000
573,817
-
-
350,000
573,817
923,817
41,124
3/9/2017
Norfolk
VA
-
460,000
522,772
-
-
460,000
522,772
982,772
37,465
3/9/2017
Norfolk
VA
-
530,000
672,381
-
-
530,000
672,381
1,202,381
48,187
3/9/2017
Norfolk
VA
-
630,000
496,275
-
-
630,000
496,275
1,126,275
35,622
3/9/2017
Richmond
VA
-
403,549
876,981
-
-
403,549
876,981
1,280,530
523,667
10/17/2002
Roanoke
VA
-
349,628
322,545
-
349,628
322,698
672,326
271,633
12/19/1997
Suffolk
VA
-
790,000
504,279
-
-
790,000
504,279
1,294,279
36,140
3/9/2017
Virginia beach
VA
-
760,000
417,873
-
-
760,000
417,873
1,177,873
29,948
3/9/2017
Virginia Beach
VA
-
1,070,000
342,099
-
-
1,070,000
342,099
1,412,099
24,517
3/9/2017
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Virginia beach
VA
-
930,000
321,534
-
-
930,000
321,534
1,251,534
23,043
3/9/2017
Virginia Beach
VA
-
480,000
386,732
-
-
480,000
386,732
866,732
27,716
3/9/2017
Virginia Beach
VA
-
670,000
460,364
-
-
670,000
460,364
1,130,364
32,993
3/9/2017
Virginia beach
VA
-
890,000
1,358,843
-
-
890,000
1,358,843
2,248,843
97,384
3/9/2017
Warrenton
VA
-
186,723
241,173
-
-
186,723
241,173
427,896
160,377
5/14/2002
Bremerton
WA
-
261,172
373,080
-
2,621
261,172
375,701
636,873
332,404
7/24/1996
Tacoma
WA
-
109,127
202,691
-
-
109,127
202,691
311,818
91,549
9/4/2007
Cudahy
WI
-
470,000
1,208,890
-
-
470,000
1,208,890
1,678,890
118,874
7/14/2016
Franklin
WI
-
1,090,000
2,175,218
-
-
1,090,000
2,175,218
3,265,218
213,896
7/14/2016
Menomonee Falls
WI
-
1,280,000
1,892,112
-
-
1,280,000
1,892,112
3,172,112
186,058
7/14/2016
Milwaukee
WI
-
173,005
499,244
-
-
173,005
499,244
672,249
460,136
12/22/1995
Milwaukee
WI
-
152,509
475,480
-
-
152,509
475,480
627,989
423,969
9/27/1996
Mount Pleasant
WI
-
184,002
114,167
-
-
184,002
114,167
298,169
75,920
5/14/2002
New Berlin
WI
-
188,491
466,268
55,866
188,491
522,641
711,132
440,675
12/22/1995
Oshkosh
WI
-
150,000
820,494
-
-
150,000
820,494
970,494
80,682
7/14/2016
West Milwaukee
WI
-
780,000
1,747,681
-
-
780,000
1,747,681
2,527,681
171,855
7/14/2016
Automotive Tire Services
Athens
AL
-
760,031
1,413,494
-
-
760,031
1,413,494
2,173,525
685,540
11/22/2006
Auburn
AL
-
660,210
1,228,112
-
-
660,210
1,228,112
1,888,322
595,630
11/22/2006
Birmingham
AL
-
635,111
1,180,909
-
-
635,111
1,180,909
1,816,020
572,737
11/22/2006
Birmingham
AL
-
620,270
1,153,493
-
-
620,270
1,153,493
1,773,763
559,440
11/22/2006
Daphne
AL
-
876,139
1,629,123
-
-
876,139
1,629,123
2,505,262
790,121
11/22/2006
Decatur
AL
-
635,111
1,181,499
-
-
635,111
1,181,499
1,816,610
573,023
11/22/2006
Decatur
AL
-
1,100,000
1,336,744
-
-
1,100,000
1,336,744
2,436,744
95,800
3/29/2017
Dothan
AL
-
455,651
565,343
-
-
455,651
565,343
1,020,994
229,568
6/10/2008
Foley
AL
-
870,031
1,617,357
-
-
870,031
1,617,357
2,487,388
784,414
11/22/2006
Gardendale
AL
-
610,055
1,134,554
-
-
610,055
1,134,554
1,744,609
549,958
11/22/2006
Hoover
AL
-
504,396
938,299
-
-
504,396
938,299
1,442,695
455,071
11/22/2006
Huntsville
AL
-
499,843
929,863
-
-
499,843
929,863
1,429,706
450,979
11/22/2006
Huntsville
AL
-
635,111
1,181,499
-
-
635,111
1,181,499
1,816,610
573,023
11/22/2006
Madison
AL
-
635,111
1,181,532
-
-
635,111
1,181,532
1,816,643
573,039
11/22/2006
Mobile
AL
-
635,111
1,181,499
-
-
635,111
1,181,499
1,816,610
573,023
11/22/2006
Mobile
AL
-
525,750
977,810
-
-
525,750
977,810
1,503,560
474,234
11/22/2006
Montgomery
AL
-
544,181
654,046
-
-
544,181
654,046
1,198,227
276,481
1/24/2008
Orange Beach
AL
-
630,244
1,172,036
-
-
630,244
1,172,036
1,802,280
568,433
11/22/2006
Pelham
AL
-
635,111
1,180,909
-
-
635,111
1,180,909
1,816,020
572,737
11/22/2006
Phenix City
AL
-
630,244
1,172,024
-
-
630,244
1,172,024
1,802,268
568,427
11/22/2006
Benton
AR
-
976,474
2,016,354
-
-
976,474
2,016,354
2,992,828
480,564
1/22/2013
Tucson
AZ
-
178,297
396,004
-
-
178,297
396,004
574,301
396,004
1/19/1990
N/A
Arvada
CO
-
301,489
931,092
-
-
301,489
931,092
1,232,581
675,079
11/18/1999
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Aurora
CO
-
221,691
492,382
-
-
221,691
492,382
714,073
492,382
1/29/1990
N/A
Aurora
CO
-
353,283
1,135,051
-
31,948
353,283
1,166,999
1,520,282
813,421
3/10/2000
Colorado Springs
CO
-
280,193
622,317
-
-
280,193
622,317
902,510
622,317
1/23/1990
N/A
Colorado Springs
CO
-
192,988
433,542
-
-
192,988
433,542
626,530
433,542
5/20/1993
N/A
Denver
CO
-
688,292
1,331,224
-
-
688,292
1,331,224
2,019,516
851,947
5/30/2002
Grand Junction
CO
-
1,121,415
2,315,649
-
-
1,121,415
2,315,649
3,437,064
551,896
1/22/2013
Westminster
CO
-
526,620
1,099,523
-
-
526,620
1,099,523
1,626,143
782,529
1/18/2000
Destin
FL
-
1,034,411
1,922,591
-
-
1,034,411
1,922,591
2,957,002
932,452
11/22/2006
Fort Walton Beach
FL
-
635,111
1,181,032
-
-
635,111
1,181,032
1,816,143
572,797
11/22/2006
Fort Walton Beach
FL
-
635,111
1,181,032
-
-
635,111
1,181,032
1,816,143
572,797
11/22/2006
Lakeland
FL
-
500,000
645,402
-
-
500,000
645,402
1,145,402
524,040
12/31/1997
Largo
FL
-
540,000
1,168,386
-
-
540,000
1,168,386
1,708,386
83,734
3/29/2017
Middleburg
FL
-
1,167,247
2,410,289
5,843
-
1,167,247
2,416,132
3,583,379
579,542
1/22/2013
Milton
FL
-
635,111
1,181,145
-
-
635,111
1,181,145
1,816,256
572,851
11/22/2006
New Smyrna Beach
FL
-
570,000
638,386
-
-
570,000
638,386
1,208,386
45,751
3/29/2017
Niceville
FL
-
920,803
1,711,621
-
-
920,803
1,711,621
2,632,424
830,132
11/22/2006
Orlando
FL
-
635,111
1,181,076
-
-
635,111
1,181,076
1,816,187
572,818
11/22/2006
Orlando
FL
-
630,244
1,172,023
-
-
630,244
1,172,023
1,802,267
568,427
11/22/2006
Oviedo
FL
-
971,996
1,806,780
-
-
971,996
1,806,780
2,778,776
876,284
11/22/2006
Pace
FL
-
630,244
1,171,993
-
-
630,244
1,171,993
1,802,237
568,413
11/22/2006
Panama City
FL
-
635,111
1,181,076
-
-
635,111
1,181,076
1,816,187
572,818
11/22/2006
Pensacola
FL
-
635,111
1,181,063
-
-
635,111
1,181,063
1,816,174
572,811
11/22/2006
Pensacola
FL
-
588,305
1,094,130
-
-
588,305
1,094,130
1,682,435
530,649
11/22/2006
Port Saint Lucie
FL
-
700,000
2,018,138
-
-
700,000
2,018,138
2,718,138
144,633
3/29/2017
Saint Cloud
FL
-
525,207
976,968
-
-
525,207
976,968
1,502,175
473,825
11/22/2006
Sanford
FL
-
630,244
1,172,023
-
-
630,244
1,172,023
1,802,267
568,427
11/22/2006
Tallahassee
FL
-
419,902
781,405
-
-
419,902
781,405
1,201,307
378,977
11/22/2006
Tallahassee
FL
-
611,916
1,137,986
-
-
611,916
1,137,986
1,749,902
551,919
11/22/2006
Tampa
FL
-
427,395
472,030
-
-
427,395
472,030
899,425
383,291
12/5/1997
Union Park
FL
-
1,004,103
1,866,287
-
-
1,004,103
1,866,287
2,870,390
905,145
11/22/2006
Alpharetta
GA
-
630,244
1,171,870
-
-
630,244
1,171,870
1,802,114
568,353
11/22/2006
Atlanta
GA
-
55,840
258,889
16,005
14,141
55,840
289,035
344,875
283,992
11/27/1985
Canton
GA
-
1,010,000
1,352,903
-
-
1,010,000
1,352,903
2,362,903
245,777
6/30/2014
Columbus
GA
-
630,244
1,171,988
-
-
630,244
1,171,988
1,802,232
568,410
11/22/2006
Conyers
GA
-
531,935
1,180,296
-
-
531,935
1,180,296
1,712,231
788,564
11/13/2001
Conyers
GA
-
635,111
1,181,027
-
-
635,111
1,181,027
1,816,138
572,794
11/22/2006
Douglasville
GA
-
795,842
1,643,361
-
-
795,842
1,643,361
2,439,203
391,668
1/22/2013
Duluth
GA
-
638,509
1,186,594
-
-
638,509
1,186,594
1,825,103
717,885
11/29/2003
Hiram
GA
-
635,111
1,181,017
-
-
635,111
1,181,017
1,816,128
572,789
11/22/2006
Kennesaw
GA
-
519,903
967,180
-
-
519,903
967,180
1,487,083
469,078
11/22/2006
Kennesaw
GA
-
659,964
1,827,997
-
-
659,964
1,827,997
2,487,961
435,673
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Lawrenceville
GA
-
635,111
1,181,137
-
-
635,111
1,181,137
1,816,248
572,848
11/22/2006
Lilburn
GA
-
994,894
1,807,565
-
-
994,894
1,807,565
2,802,459
430,803
1/22/2013
Marietta
GA
-
500,293
930,657
-
-
500,293
930,657
1,430,950
451,365
11/22/2006
McDonough
GA
-
635,111
1,181,032
-
-
635,111
1,181,032
1,816,143
572,797
11/22/2006
McDonough
GA
-
910,000
1,400,696
-
-
910,000
1,400,696
2,310,696
254,460
6/30/2014
Peachtree City
GA
-
625,316
1,162,827
-
-
625,316
1,162,827
1,788,143
563,967
11/22/2006
Roswell
GA
-
515,617
959,138
-
-
515,617
959,138
1,474,755
465,178
11/22/2006
Sandy Springs
GA
-
586,211
1,090,241
-
-
586,211
1,090,241
1,676,452
528,762
11/22/2006
Stockbridge
GA
-
632,128
1,175,478
-
-
632,128
1,175,478
1,807,606
570,103
11/22/2006
Union City
GA
-
970,000
938,386
-
-
970,000
938,386
1,908,386
67,251
3/29/2017
Aurora
IL
-
513,204
953,885
-
-
513,204
953,885
1,467,089
577,096
11/29/2003
Joliet
IL
-
452,267
840,716
-
-
452,267
840,716
1,292,983
508,629
11/29/2003
Lombard
IL
-
428,170
795,965
-
2,000
428,170
797,965
1,226,135
483,063
11/29/2003
Niles
IL
-
366,969
682,306
-
-
366,969
682,306
1,049,275
412,791
11/29/2003
Orland Park
IL
-
663,087
1,232,240
-
-
663,087
1,232,240
1,895,327
745,501
11/29/2003
Round Lake Beach
IL
-
472,132
236,585
-
-
472,132
236,585
708,717
157,327
5/14/2002
Vernon Hills
IL
-
524,948
975,668
-
-
524,948
975,668
1,500,616
590,275
11/29/2003
West Dundee
IL
-
530,835
986,628
-
-
530,835
986,628
1,517,463
596,906
11/29/2003
Overland Park
KS
-
1,101,841
2,047,067
-
-
1,101,841
2,047,067
3,148,908
1,238,472
11/29/2003
Wichita
KS
-
935,607
1,989,962
6,300
-
935,607
1,996,262
2,931,869
475,206
1/22/2013
Winchester
KY
-
355,474
929,177
20,045
22,464
355,474
971,686
1,327,160
787,441
6/30/1998
Baton Rouge
LA
-
1,158,316
2,391,847
-
-
1,158,316
2,391,847
3,550,163
570,057
1/22/2013
Allston
MA
-
576,505
1,071,520
-
-
576,505
1,071,520
1,648,025
648,264
11/29/2003
Billerica
MA
-
399,043
462,240
-
399,043
462,411
861,454
401,452
4/2/1997
Shrewsbury
MA
-
721,065
1,339,913
-
-
721,065
1,339,913
2,060,978
810,643
11/29/2003
Waltham
MA
-
338,955
630,279
-
-
338,955
630,279
969,234
381,315
11/29/2003
Weymouth
MA
-
752,234
1,397,799
-
-
752,234
1,397,799
2,150,033
845,664
11/29/2003
Woburn
MA
-
676,968
1,258,018
-
-
676,968
1,258,018
1,934,986
761,097
11/29/2003
Annapolis
MD
-
780,806
1,450,860
-
-
780,806
1,450,860
2,231,666
877,766
11/29/2003
Bowie
MD
-
734,558
1,364,970
-
-
734,558
1,364,970
2,099,528
825,803
11/29/2003
Capitol Heights
MD
-
701,705
1,303,958
-
-
701,705
1,303,958
2,005,663
788,890
11/29/2003
Germantown
MD
-
808,296
1,501,913
-
-
808,296
1,501,913
2,310,209
908,653
11/29/2003
Waldorf
MD
-
427,033
793,854
-
-
427,033
793,854
1,220,887
480,277
11/29/2003
Eagan
MN
-
902,443
845,536
-
-
902,443
845,536
1,747,979
689,137
2/20/1998
Bridgeton
MO
-
1,120,470
-
-
-
1,120,470
-
1,120,470
-
12/15/2017
N/A
Grandview
MO
-
347,150
711,024
-
-
347,150
711,024
1,058,174
577,148
2/20/1998
Independence
MO
-
721,020
1,339,829
-
-
721,020
1,339,829
2,060,849
810,592
11/29/2003
Lake Saint Louis
MO
-
1,222,303
2,019,908
59,710
-
1,222,303
2,079,618
3,301,921
487,744
1/22/2013
St. Louis
MO
-
386,112
717,856
-
-
386,112
717,856
1,103,968
434,299
11/29/2003
Charlotte
NC
-
508,100
457,295
-
-
508,100
457,295
965,395
285,809
5/27/2003
Charlotte
NC
-
181,662
338,164
-
-
181,662
338,164
519,826
204,585
11/29/2003
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Clemmons
NC
-
630,000
1,100,160
-
-
630,000
1,100,160
1,730,160
489,571
11/9/2007
Jamestown
NC
-
650,000
857,823
-
-
650,000
857,823
1,507,823
381,731
11/9/2007
Matthews
NC
-
489,063
909,052
-
-
489,063
909,052
1,398,115
549,973
11/29/2003
Omaha
NE
-
253,128
810,922
-
253,128
810,954
1,064,082
625,842
3/4/1999
Manchester
NH
-
722,532
1,342,636
-
-
722,532
1,342,636
2,065,168
812,291
11/29/2003
Newington
NH
-
690,753
1,283,624
-
-
690,753
1,283,624
1,974,377
776,589
11/29/2003
Salem
NH
-
597,833
1,111,059
-
-
597,833
1,111,059
1,708,892
672,187
11/29/2003
Deptford
NJ
-
619,376
1,151,062
-
-
619,376
1,151,062
1,770,438
696,388
11/29/2003
Maple Shade
NJ
-
508,285
944,750
-
-
508,285
944,750
1,453,035
571,570
11/29/2003
Northfield
NJ
-
1,364,997
2,361,337
-
-
1,364,997
2,361,337
3,726,334
562,785
1/22/2013
Albuquerque
NM
-
1,210,015
2,498,602
-
-
1,210,015
2,498,602
3,708,617
595,500
1/22/2013
Akron
OH
-
242,133
450,467
-
-
242,133
450,467
692,600
272,528
11/29/2003
Cambridge
OH
-
103,368
192,760
-
-
103,368
192,760
296,128
116,616
11/29/2003
Canton
OH
-
337,161
626,948
-
-
337,161
626,948
964,109
379,300
11/29/2003
Cleveland
OH
-
582,107
1,081,848
-
-
582,107
1,081,848
1,663,955
654,514
11/29/2003
Columbus
OH
-
385,878
717,422
-
-
385,878
717,422
1,103,300
434,036
11/29/2003
Edmond
OK
-
1,240,403
2,561,350
-
-
1,240,403
2,561,350
3,801,753
610,455
1/22/2013
Oklahoma City
OK
-
509,370
752,691
-
-
509,370
752,691
1,262,061
588,524
9/24/1998
Oklahoma City
OK
-
1,127,056
2,327,297
15,950
-
1,127,056
2,343,247
3,470,303
556,417
1/22/2013
Owasso
OK
-
1,078,296
2,226,612
12,488
-
1,078,296
2,239,100
3,317,396
536,445
1/22/2013
Tulsa
OK
-
964,367
1,996,137
14,191
-
964,367
2,010,328
2,974,695
481,019
1/22/2013
Yukon
OK
-
1,173,070
2,422,313
27,799
-
1,173,070
2,450,111
3,623,181
586,399
1/22/2013
Greensburg
PA
-
594,891
1,105,589
-
-
594,891
1,105,589
1,700,480
668,877
11/29/2003
Lancaster
PA
-
431,050
801,313
-
-
431,050
801,313
1,232,363
484,790
11/29/2003
Mechanicsburg
PA
-
455,854
847,377
-
-
455,854
847,377
1,303,231
512,659
11/29/2003
Monroeville
PA
-
723,660
1,344,733
-
-
723,660
1,344,733
2,068,393
813,559
11/29/2003
Philadelphia
PA
-
334,939
622,821
-
-
334,939
622,821
957,760
376,803
11/29/2003
Pittsburgh
PA
-
384,756
715,339
-
-
384,756
715,339
1,100,095
432,776
11/29/2003
York
PA
-
389,291
723,760
-
-
389,291
723,760
1,113,051
437,871
11/29/2003
East Providence
RI
-
580,000
1,459,272
-
-
580,000
1,459,272
2,039,272
104,581
3/29/2017
Clover
SC
-
610,000
1,360,347
-
-
610,000
1,360,347
1,970,347
97,492
3/29/2017
Columbia
SC
-
343,785
295,001
183,130
-
343,785
478,131
821,916
437,229
2/7/1997
Little River
SC
-
340,000
868,386
-
-
340,000
868,386
1,208,386
62,234
3/29/2017
Sioux Falls
SD
-
332,979
498,108
-
-
332,979
498,108
831,087
405,972
2/27/1998
Goodlettsville
TN
-
601,306
1,117,504
-
-
601,306
1,117,504
1,718,810
676,086
11/29/2003
Hermitage
TN
-
560,443
1,011,799
-
-
560,443
1,011,799
1,572,242
664,356
5/9/2001
Allen
TX
-
1,162,614
2,400,722
46,748
-
1,162,614
2,447,470
3,610,084
593,793
1/22/2013
Arlington
TX
-
599,558
1,114,256
-
-
599,558
1,114,256
1,713,814
674,121
11/29/2003
Austin
TX
-
185,454
411,899
-
-
185,454
411,899
597,353
411,899
2/6/1990
N/A
Austin
TX
-
710,485
1,320,293
-
-
710,485
1,320,293
2,030,778
798,773
11/29/2003
Austin
TX
-
590,828
1,098,073
-
-
590,828
1,098,073
1,688,901
664,329
11/29/2003
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Austin
TX
-
569,909
1,059,195
-
-
569,909
1,059,195
1,629,104
640,809
11/29/2003
Austin
TX
-
532,497
989,715
-
-
532,497
989,715
1,522,212
598,773
11/29/2003
Austin
TX
-
1,066,021
2,201,264
-
-
1,066,021
2,201,264
3,267,285
524,635
1/22/2013
Carrollton
TX
-
568,401
1,056,394
-
-
568,401
1,056,394
1,624,795
639,114
11/29/2003
Conroe
TX
-
396,068
736,346
-
-
396,068
736,346
1,132,414
445,485
11/29/2003
Crowley
TX
-
1,103,218
2,278,074
-
-
1,103,218
2,278,074
3,381,292
542,941
1/22/2013
Dallas
TX
-
191,267
424,811
47,615
-
191,267
472,426
663,693
426,619
1/26/1990
Fort Worth
TX
-
543,950
1,010,984
-
-
543,950
1,010,984
1,554,934
611,641
11/29/2003
Garland
TX
-
242,887
539,461
33,982
26,371
242,887
599,814
842,701
564,558
1/19/1990
Houston
TX
-
151,018
335,417
-
151,018
335,474
486,492
335,467
1/25/1990
Houston
TX
-
392,113
729,002
-
-
392,113
729,002
1,121,115
441,042
11/29/2003
Houston
TX
-
1,030,379
1,914,353
-
-
1,030,379
1,914,353
2,944,732
1,158,179
11/29/2003
Houston
TX
-
619,101
1,150,551
-
-
619,101
1,150,551
1,769,652
696,079
11/29/2003
Houston
TX
-
642,495
1,193,997
-
-
642,495
1,193,997
1,836,492
722,364
11/29/2003
Houston
TX
-
872,866
1,621,829
-
-
872,866
1,621,829
2,494,695
981,203
11/29/2003
Houston
TX
-
1,100,000
613,509
-
-
1,100,000
613,509
1,713,509
43,968
3/29/2017
Humble
TX
-
612,414
1,138,132
-
-
612,414
1,138,132
1,750,546
688,566
11/29/2003
League City
TX
-
1,032,003
2,131,018
-
-
1,032,003
2,131,018
3,163,021
507,893
1/22/2013
Leon Valley
TX
-
178,221
395,834
-
-
178,221
395,834
574,055
395,834
1/17/1990
N/A
Leon Valley
TX
-
529,967
985,046
-
-
529,967
985,046
1,515,013
595,948
11/29/2003
Mesquite
TX
-
591,538
1,099,363
-
-
591,538
1,099,363
1,690,901
665,111
11/29/2003
Pasadena
TX
-
107,391
238,519
-
107,391
238,576
345,967
238,569
1/24/1990
Pearland
TX
-
935,739
1,932,240
-
-
935,739
1,932,240
2,867,979
460,517
1/22/2013
Plano
TX
-
187,564
417,157
187,564
417,948
605,512
417,158
1/18/1990
Plano
TX
-
494,407
918,976
-
-
494,407
918,976
1,413,383
555,976
11/29/2003
Richardson
TX
-
555,188
1,031,855
-
-
555,188
1,031,855
1,587,043
624,268
11/29/2003
Rockwall
TX
-
1,178,158
2,432,819
-
-
1,178,158
2,432,819
3,610,977
579,822
1/22/2013
San Antonio
TX
-
245,164
544,518
-
-
245,164
544,518
789,682
544,518
2/14/1990
N/A
San Antonio
TX
-
688,249
1,278,967
-
-
688,249
1,278,967
1,967,216
773,771
11/29/2003
Stafford
TX
-
706,786
1,313,395
-
-
706,786
1,313,395
2,020,181
794,600
11/29/2003
Waco
TX
-
401,999
747,362
-
-
401,999
747,362
1,149,361
452,150
11/29/2003
Weatherford
TX
-
971,317
2,005,706
-
-
971,317
2,005,706
2,977,023
478,026
1/22/2013
Webster
TX
-
600,261
1,115,563
-
-
600,261
1,115,563
1,715,824
674,911
11/29/2003
Pasadena
TX
-
147,535
274,521
13,661
11,252
147,535
299,434
446,969
233,763
12/31/1998
Bountiful
UT
-
183,750
408,115
-
-
183,750
408,115
591,865
408,115
1/30/1990
N/A
Alexandria
VA
-
542,791
1,008,832
-
-
542,791
1,008,832
1,551,623
610,340
11/29/2003
Alexandria
VA
-
592,698
1,101,517
-
-
592,698
1,101,517
1,694,215
666,413
11/29/2003
Chesapeake
VA
-
770,000
1,112,334
-
-
770,000
1,112,334
1,882,334
494,989
11/9/2007
Chester
VA
-
1,204,525
2,487,265
-
-
1,204,525
2,487,265
3,691,790
592,798
1/22/2013
Lynchburg
VA
-
342,751
637,329
-
-
342,751
637,329
980,080
385,580
11/29/2003
Virginia Beach
VA
-
780,000
1,026,384
-
780,000
1,026,759
1,806,759
456,767
11/9/2007
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Woodbridge
VA
-
774,854
1,439,806
-
-
774,854
1,439,806
2,214,660
871,079
11/29/2003
Lakewood
WA
-
187,111
415,579
-
-
187,111
415,579
602,690
415,579
1/25/1990
N/A
Brown Deer
WI
-
257,408
802,141
-
-
257,408
802,141
1,059,549
643,112
7/16/1998
Delafield
WI
-
324,574
772,702
-
-
324,574
772,702
1,097,276
595,614
2/26/1999
Madison
WI
-
452,630
811,977
-
-
452,630
811,977
1,264,607
656,404
4/7/1998
Milwaukee
WI
-
1,304,098
2,692,877
-
-
1,304,098
2,692,877
3,996,975
641,802
1/22/2013
Oak Creek
WI
-
420,465
852,408
-
-
420,465
852,408
1,272,873
689,089
3/20/1998
Beverage
Calistoga
CA
-
12,677,285
2,750,715
-
-
12,677,285
2,750,715
15,428,000
958,343
N/A
6/25/2010
Calistoga
CA
-
5,445,030
21,154,970
-
-
5,445,030
21,154,970
26,600,000
7,227,948
N/A
6/25/2010
Calistoga
CA
-
6,039,131
1,576,869
-
-
6,039,131
1,576,869
7,616,000
538,764
N/A
6/25/2010
Calistoga
CA
-
4,988,527
1,999,473
-
-
4,988,527
1,999,473
6,988,000
686,610
N/A
6/25/2010
Calistoga
CA
-
8,146,907
2,067,093
-
-
8,146,907
2,067,093
10,214,000
706,257
N/A
6/25/2010
Calistoga
CA
-
12,675,172
4,907,828
-
-
12,675,172
4,907,828
17,583,000
1,680,133
N/A
6/25/2010
Calistoga
CA
-
45,184,528
10,437,472
-
-
45,184,528
10,437,472
55,622,000
3,574,777
N/A
6/25/2010
Calistoga
CA
-
10,630,191
5,580,929
-
-
10,630,191
5,580,929
16,211,120
1,797,234
N/A
12/15/2010
Calistoga
CA
-
6,860,862
524,117
-
-
6,860,862
524,117
7,384,979
147,626
N/A
12/15/2011
Napa
CA
-
6,000,000
25,000,000
-
-
6,000,000
25,000,000
31,000,000
8,541,667
N/A
6/25/2010
Napa
CA
-
11,253,989
2,846,011
-
-
11,253,989
2,846,011
14,100,000
979,300
N/A
6/25/2010
Napa
CA
-
17,590,091
5,898,149
-
-
17,590,091
5,898,149
23,488,240
2,093,213
N/A
6/25/2010
Napa
CA
-
23,471,336
6,589,664
-
-
23,471,336
6,589,664
30,061,000
2,263,812
N/A
6/25/2010
Napa
CA
-
10,777,485
390,515
-
-
10,777,485
390,515
11,168,000
138,075
N/A
9/17/2010
Napa
CA
-
4,675,262
298,928
-
-
4,675,262
298,928
4,974,190
96,155
N/A
12/15/2010
Paicines
CA
-
12,058,127
1,607,783
-
-
12,058,127
1,607,783
13,665,910
671,559
N/A
12/15/2010
Saint Helena
CA
-
15,254,700
4,150,300
-
-
15,254,700
4,150,300
19,405,000
1,441,522
N/A
6/25/2010
Shreveport
LA
-
1,320,003
8,130,438
-
1,320,003
8,130,586
9,450,589
2,507,032
4/22/2011
Books
Tampa
FL
-
998,250
3,696,707
129,751
998,250
3,826,537
4,824,787
3,277,009
3/11/1997
Child Care
Hoover
AL
-
63,800
295,791
58,263
16,414
63,800
370,468
434,268
337,643
10/31/1984
Conway
AR
-
300,000
1,200,000
-
-
300,000
1,200,000
1,500,000
66,000
8/29/2017
Conway
AR
-
580,000
785,000
-
-
580,000
785,000
1,365,000
43,175
8/29/2017
Avondale
AZ
-
242,723
1,129,139
-
-
242,723
1,129,139
1,371,862
882,697
7/28/1998
Chandler
AZ
-
291,720
647,923
-
-
291,720
647,923
939,643
647,923
12/11/1987
N/A
Chandler
AZ
-
271,695
603,446
9,758
19,469
271,695
632,673
904,368
629,949
12/14/1987
Mesa
AZ
-
308,951
1,025,612
-
-
308,951
1,025,612
1,334,563
791,468
1/13/1999
Mesa
AZ
-
565,882
925,957
-
-
565,882
925,957
1,491,839
1,543
12/27/2018
Mesa
AZ
-
707,051
1,156,953
-
-
707,051
1,156,953
1,864,004
1,928
12/27/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Phoenix
AZ
-
260,719
516,181
52,737
32,125
260,719
601,042
861,761
555,101
12/26/1990
Scottsdale
AZ
-
291,993
648,529
-
-
291,993
648,529
940,522
648,529
12/14/1987
N/A
Scottsdale
AZ
-
264,504
587,471
-
27,467
264,504
614,939
879,443
614,939
6/29/1990
N/A
Tempe
AZ
-
292,200
648,989
-
292,200
649,153
941,353
649,153
3/10/1988
N/A
Calabasas
CA
-
156,430
725,248
100,838
58,367
156,430
884,453
1,040,883
868,620
9/26/1985
Canyon Country
CA
-
992,534
1,624,092
-
-
992,534
1,624,092
2,616,626
2,707
12/27/2018
Carmichael
CA
-
131,035
607,507
80,368
21,673
131,035
709,548
840,583
686,098
8/22/1986
Chino
CA
-
155,000
634,071
-
32,148
155,000
666,219
821,219
659,369
10/6/1983
Chula Vista
CA
-
350,563
778,614
-
43,353
350,563
821,967
1,172,530
821,967
10/30/1987
N/A
El Cajon
CA
-
157,804
731,621
2,540
44,802
157,804
778,963
936,767
778,254
12/19/1985
Escondido
CA
-
276,286
613,638
41,417
44,375
276,286
699,430
975,716
663,307
12/31/1987
Folsom
CA
-
281,563
625,363
-
-
281,563
625,363
906,926
625,363
10/23/1987
N/A
Gold River
CA
-
276,328
613,733
24,967
-
276,328
638,700
915,028
637,778
3/22/1989
Lancaster
CA
-
649,256
1,062,383
-
-
649,256
1,062,383
1,711,639
1,771
12/27/2018
Mission Viejo
CA
-
353,891
744,367
23,400
-
353,891
767,767
1,121,658
758,116
6/24/1993
Oceanside
CA
-
145,568
674,889
76,014
51,857
145,568
802,760
948,328
709,175
12/23/1985
Oceanside
CA
-
1,024,386
1,676,212
-
-
1,024,386
1,676,212
2,700,598
2,794
12/27/2018
Palmdale
CA
-
249,490
554,125
9,864
-
249,490
563,989
813,479
563,989
9/14/1988
N/A
Rancho Cordova
CA
-
721,643
1,180,832
-
-
721,643
1,180,832
1,902,475
1,968
12/27/2018
Rancho Cucamonga
CA
-
471,733
1,047,739
292,673
471,733
1,340,583
1,812,316
1,164,625
12/30/1987
Sacramento
CA
-
692,955
1,133,889
-
-
692,955
1,133,889
1,826,844
1,890
12/27/2018
Santee
CA
-
936,296
1,532,069
-
-
936,296
1,532,069
2,468,365
2,553
12/27/2018
Simi Valley
CA
-
208,585
967,055
79,082
208,585
1,046,245
1,254,830
1,030,353
12/20/1985
Valencia
CA
-
301,295
669,185
70,470
301,295
739,701
1,040,996
730,639
6/23/1988
Vallejo
CA
-
787,308
1,288,279
-
-
787,308
1,288,279
2,075,587
2,147
12/27/2018
Walnut
CA
-
217,365
1,007,753
57,287
51,049
217,365
1,116,089
1,333,454
1,072,363
8/22/1986
Arvada
CO
-
365,833
598,616
-
-
365,833
598,616
964,449
12/27/2018
Aurora
CO
-
287,000
637,440
20,313
18,188
287,000
675,940
962,940
667,218
12/31/1987
Broomfield
CO
-
155,306
344,941
25,000
155,306
370,024
525,330
369,120
3/15/1988
Colorado Springs
CO
-
58,400
271,217
25,000
58,400
296,299
354,699
294,872
12/22/1982
Colorado Springs
CO
-
698,702
1,143,292
-
-
698,702
1,143,292
1,841,994
1,905
12/27/2018
Colorado Springs
CO
-
580,287
949,529
-
-
580,287
949,529
1,529,816
1,583
12/27/2018
Colorado Springs
CO
-
1,221,597
1,998,910
-
-
1,221,597
1,998,910
3,220,507
3,332
12/27/2018
Fort Collins
CO
-
55,200
256,356
15,030
55,200
271,465
326,665
264,138
12/22/1982
Fort Collins
CO
-
970,119
1,587,414
-
-
970,119
1,587,414
2,557,533
2,646
12/27/2018
Littleton
CO
-
161,617
358,956
-
161,617
359,038
520,655
359,038
12/10/1987
N/A
Longmont
CO
-
115,592
535,931
-
115,592
536,002
651,594
536,002
3/25/1986
N/A
Parker
CO
-
153,551
341,042
-
153,551
341,124
494,675
341,124
10/19/1987
N/A
Westminster
CO
-
306,387
695,737
178,877
11,233
306,387
885,847
1,192,234
741,924
9/27/1989
Bradenton
FL
-
160,060
355,501
25,000
160,060
380,580
540,640
379,692
5/5/1988
Clearwater
FL
-
42,223
269,380
-
42,223
269,459
311,682
269,459
12/22/1981
N/A
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Indian Harbour Beach
FL
-
345,128
564,736
-
-
345,128
564,736
909,864
12/27/2018
Jacksonville
FL
-
48,000
243,060
-
-
48,000
243,060
291,060
243,060
12/22/1981
N/A
Jacksonville
FL
-
184,800
410,447
22,872
-
184,800
433,319
618,119
431,305
3/30/1989
Margate
FL
-
66,686
309,183
-
-
66,686
309,183
375,869
309,183
12/16/1986
N/A
Melbourne
FL
-
256,439
549,345
-
256,439
549,424
805,863
549,424
4/16/1993
N/A
Niceville
FL
-
73,696
341,688
-
-
73,696
341,688
415,384
341,688
12/3/1986
N/A
Orange Park
FL
-
807,554
1,321,407
-
-
807,554
1,321,407
2,128,961
2,202
12/27/2018
Orlando
FL
-
68,001
313,922
-
68,001
314,062
382,063
314,022
9/4/1985
Orlando
FL
-
159,177
353,538
-
159,177
353,691
512,868
353,691
7/2/1987
N/A
Oviedo
FL
-
166,409
369,598
48,532
19,157
166,409
437,287
603,696
389,828
11/20/1987
Pensacola
FL
-
147,000
326,492
20,000
-
147,000
346,492
493,492
341,700
3/28/1989
Royal Palm Beach
FL
-
194,193
431,309
25,000
-
194,193
456,309
650,502
453,644
11/15/1988
Saint Augustine
FL
-
44,800
213,040
23,090
-
44,800
236,130
280,930
231,338
12/22/1981
Sunrise
FL
-
245,000
533,280
92,266
245,000
625,699
870,699
608,477
5/25/1989
Tampa
FL
-
53,385
199,846
-
53,385
200,000
253,385
200,000
12/22/1981
N/A
Winter Park
FL
-
579,986
949,037
-
-
579,986
949,037
1,529,023
1,582
12/27/2018
Panama City
FL
-
69,500
244,314
82,701
-
69,500
327,015
396,515
302,475
6/15/1982
Dallas
GA
-
150,000
1,467,000
-
-
150,000
1,467,000
1,617,000
75,795
9/29/2017
Dallas
GA
-
480,000
2,068,000
-
-
480,000
2,068,000
2,548,000
106,847
9/29/2017
Duluth
GA
-
310,000
1,040,008
-
-
310,000
1,040,008
1,350,008
799,122
6/7/1999
Ellenwood
GA
-
119,678
275,414
58,545
119,678
334,231
453,909
314,534
11/16/1988
Hiram
GA
-
100,000
2,252,000
-
-
100,000
2,252,000
2,352,000
116,353
9/29/2017
Lawrenceville
GA
-
141,449
316,961
153,626
14,612
141,449
485,199
626,648
449,895
7/7/1988
Lithia Springs
GA
-
187,444
363,358
-
187,444
363,442
550,886
363,442
12/28/1989
N/A
Lithonia
GA
-
239,715
524,459
24,410
239,715
549,249
788,964
542,536
8/20/1991
Marietta
GA
-
148,620
330,090
25,000
-
148,620
355,090
503,710
354,354
9/16/1988
Marietta
GA
-
295,750
596,299
76,426
-
295,750
672,725
968,475
610,327
12/30/1988
Marietta
GA
-
301,000
668,529
71,474
19,961
301,000
759,964
1,060,964
731,134
12/30/1988
Smyrna
GA
-
274,750
610,229
-
-
274,750
610,229
884,979
610,229
11/15/1988
N/A
Stockbridge
GA
-
168,700
374,688
85,264
5,382
168,700
465,334
634,034
428,945
3/28/1989
Villa Rica
GA
-
110,000
968,000
-
-
110,000
968,000
1,078,000
50,013
9/29/2017
Woodstock
GA
-
752,029
1,230,553
-
-
752,029
1,230,553
1,982,582
2,051
12/27/2018
Cedar Rapids
IA
-
194,950
427,085
-
-
194,950
427,085
622,035
427,085
9/24/1992
N/A
Iowa City
IA
-
186,900
408,910
-
-
186,900
408,910
595,810
408,910
9/24/1992
N/A
Addison
IL
-
125,780
583,146
-
125,780
583,278
709,058
583,278
3/25/1986
N/A
Algonquin
IL
-
241,500
509,629
61,048
241,500
571,260
812,760
528,057
7/10/1990
Aurora
IL
-
165,679
398,738
105,300
21,963
165,679
526,001
691,680
459,808
12/21/1988
Aurora
IL
-
468,000
1,259,926
-
-
468,000
1,259,926
1,727,926
959,734
6/14/1999
Bartlett
IL
-
120,824
560,166
81,122
12,101
120,824
653,389
774,213
609,212
3/25/1986
Batavia
IL
-
655,119
1,071,977
-
-
655,119
1,071,977
1,727,096
1,787
12/27/2018
Carol Stream
IL
-
122,831
586,416
-
122,831
586,548
709,379
586,548
3/25/1986
N/A
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Crystal Lake
IL
-
400,000
1,259,424
-
-
400,000
1,259,424
1,659,424
963,540
5/14/1999
Glendale Heights
IL
-
318,500
707,399
-
-
318,500
707,399
1,025,899
707,399
11/16/1988
N/A
Hoffman Estates
IL
-
318,500
707,399
-
318,500
707,484
1,025,984
707,484
3/31/1989
N/A
Hoffman Estates
IL
-
876,842
1,434,785
-
-
876,842
1,434,785
2,311,627
2,391
12/27/2018
Homer Glen
IL
-
189,477
442,018
-
189,477
442,673
632,150
442,354
10/29/1987
Lake In The Hills
IL
-
375,000
1,127,678
-
-
375,000
1,127,678
1,502,678
862,751
5/14/1999
Lemont
IL
-
890,707
1,457,471
-
-
890,707
1,457,471
2,348,178
2,429
12/27/2018
Naperville
IL
-
425,000
1,230,654
-
-
425,000
1,230,654
1,655,654
937,431
5/19/1999
O' Fallon
IL
-
141,250
313,722
-
141,250
313,953
455,203
313,953
10/30/1987
N/A
Oswego
IL
-
380,000
1,165,818
-
-
380,000
1,165,818
1,545,818
895,791
6/30/1999
Palatine
IL
-
121,911
565,232
-
121,911
565,365
687,276
565,365
3/25/1986
N/A
Roselle
IL
-
297,541
561,037
-
-
297,541
561,037
858,578
561,037
12/30/1988
N/A
Schaumburg
IL
-
218,798
485,955
20,461
-
218,798
506,416
725,214
500,880
12/17/1987
Vernon Hills
IL
-
132,523
614,430
-
132,523
615,013
747,536
614,840
3/25/1986
Westmont
IL
-
124,742
578,330
77,621
24,741
124,742
680,693
805,435
634,160
3/25/1986
Fishers
IN
-
212,118
419,958
26,509
11,338
212,118
457,805
669,923
442,183
12/27/1990
Highland
IN
-
220,460
436,476
-
-
220,460
436,476
656,936
436,476
12/26/1990
N/A
Indianapolis
IN
-
245,000
544,153
-
-
245,000
544,153
789,153
544,153
6/29/1990
N/A
Indianapolis
IN
-
519,208
917,268
-
-
519,208
917,268
1,436,476
7,644
10/5/2018
Indianapolis
IN
-
475,226
709,671
-
-
475,226
709,671
1,184,897
5,914
10/5/2018
Indianapolis
IN
-
459,131
883,095
-
-
459,131
883,095
1,342,226
7,359
10/5/2018
Lenexa
KS
-
318,500
707,399
98,965
318,500
806,491
1,124,991
745,715
3/31/1989
Olathe
KS
-
304,500
676,308
87,242
304,500
763,594
1,068,094
728,786
9/28/1988
Overland Park
KS
-
357,500
1,115,171
-
-
357,500
1,115,171
1,472,671
860,577
5/14/1999
Overland Park
KS
-
836,286
1,368,423
-
-
836,286
1,368,423
2,204,709
2,281
12/27/2018
Shawnee
KS
-
315,000
699,629
-
315,000
699,879
1,014,879
699,879
10/27/1988
N/A
Shawnee
KS
-
288,246
935,875
-
288,246
936,002
1,224,248
744,188
8/24/1998
Wichita
KS
-
209,890
415,549
33,984
16,592
209,890
466,125
676,015
460,296
12/26/1990
Lexington
KY
-
741,010
1,212,521
-
-
741,010
1,212,521
1,953,531
2,021
12/27/2018
Louisville
KY
-
540,400
884,262
-
-
540,400
884,262
1,424,662
1,474
12/27/2018
Baton Rouge
LA
-
428,167
700,613
-
-
428,167
700,613
1,128,780
1,168
12/27/2018
Acton
MA
-
315,533
700,813
-
-
315,533
700,813
1,016,346
700,813
9/30/1988
N/A
Westborough
MA
-
359,412
773,877
63,037
22,260
359,412
859,174
1,218,586
830,451
11/1/1988
Ellicott City
MD
-
219,368
630,839
26,550
-
219,368
657,389
876,757
655,698
12/19/1988
Frederick
MD
-
203,352
1,017,109
-
2,874
203,352
1,019,983
1,223,335
835,208
7/6/1998
Olney
MD
-
342,500
760,701
4,400
41,272
342,500
806,373
1,148,873
806,052
12/18/1987
Waldorf
MD
-
237,207
526,844
-
237,207
527,015
764,222
527,015
12/31/1987
N/A
Waldorf
MD
-
130,430
604,702
-
130,430
604,908
735,338
604,788
9/26/1984
Canton
MI
-
55,000
378,848
2,913
55,000
382,065
437,065
381,743
10/6/1982
Rochester Hills
MI
-
476,136
779,107
-
-
476,136
779,107
1,255,243
1,299
12/27/2018
Sterling Heights
MI
-
377,600
617,870
-
-
377,600
617,870
995,470
1,030
12/27/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Apple Valley
MN
-
113,523
526,319
87,374
13,814
113,523
627,507
741,030
564,464
3/26/1986
Brooklyn Park
MN
-
118,111
547,587
-
118,111
547,784
665,895
547,784
3/26/1986
N/A
Eden Prairie
MN
-
124,286
576,243
-
124,286
576,440
700,726
576,440
3/27/1986
N/A
Plymouth
MN
-
134,221
622,350
-
134,221
622,547
756,768
622,547
12/12/1986
N/A
Saint Paul
MN
-
242,165
537,856
-
242,165
538,143
780,308
538,088
8/30/1990
Maple Grove
MN
-
313,250
660,149
-
313,250
660,437
973,687
660,382
7/11/1990
Florissant
MO
-
318,500
707,399
102,410
318,500
810,166
1,128,666
765,641
3/30/1989
Gladstone
MO
-
294,000
652,987
66,439
2,763
294,000
722,189
1,016,189
667,223
9/29/1988
Kansas City
MO
-
307,784
910,401
-
-
307,784
910,401
1,218,185
729,317
8/21/1998
Lee's Summit
MO
-
239,627
532,220
97,856
15,958
239,627
646,034
885,661
552,946
9/27/1989
Lee's Summit
MO
-
313,740
939,367
-
-
313,740
939,367
1,253,107
721,794
6/30/1999
Jackson
MS
-
248,483
572,522
54,227
17,780
248,483
644,529
893,012
484,080
11/16/1999
Tupelo
MS
-
121,697
637,691
87,858
121,697
725,605
847,302
604,104
11/26/1996
Cary
NC
-
75,200
262,973
15,000
-
75,200
277,973
353,173
273,182
1/25/1984
Cary
NC
-
1,043,774
1,707,936
-
-
1,043,774
1,707,936
2,751,710
2,847
12/27/2018
Charlotte
NC
-
134,582
268,222
24,478
-
134,582
292,700
427,282
291,951
11/16/1988
Concord
NC
-
32,441
190,859
-
-
32,441
190,859
223,300
190,859
12/23/1981
N/A
Durham
NC
-
175,700
390,234
26,312
-
175,700
416,546
592,246
415,466
3/29/1989
Durham
NC
-
220,728
429,380
-
-
220,728
429,380
650,108
429,380
12/29/1989
N/A
Durham
NC
-
526,163
860,965
-
-
526,163
860,965
1,387,128
1,435
12/27/2018
Durham
NC
-
557,643
912,477
-
-
557,643
912,477
1,470,120
1,521
12/27/2018
Fayetteville
NC
-
427,771
699,966
-
-
427,771
699,966
1,127,737
1,167
12/27/2018
Kernersville
NC
-
162,216
316,300
28,800
-
162,216
345,100
507,316
320,200
12/14/1989
Bellevue
NE
-
60,568
280,819
-
-
60,568
280,819
341,387
280,819
12/16/1986
N/A
Omaha
NE
-
60,500
280,491
-
60,500
280,524
341,024
280,524
8/1/1984
N/A
Omaha
NE
-
53,000
245,720
72,027
53,000
317,779
370,779
270,661
10/11/1984
Omaha
NE
-
142,867
317,315
-
142,867
317,347
460,214
317,347
12/9/1987
N/A
Omaha
NE
-
359,787
588,722
-
-
359,787
588,722
948,509
12/27/2018
Londonderry
NH
-
335,467
745,082
127,154
11,802
335,467
884,037
1,219,504
813,007
8/18/1989
Lumberton
NJ
-
546,051
893,509
-
-
546,051
893,509
1,439,560
1,489
12/27/2018
Pennsauken
NJ
-
576,592
943,482
-
-
576,592
943,482
1,520,074
1,572
12/27/2018
Beavercreek
OH
-
179,552
398,786
-
-
179,552
398,786
578,338
398,786
6/30/1987
N/A
Centerville
OH
-
174,519
387,613
91,764
6,430
174,519
485,807
660,326
402,292
7/23/1987
Centerville
OH
-
320,361
524,209
-
-
320,361
524,209
844,570
12/27/2018
Cincinnati
OH
-
170,778
379,305
-
170,778
379,389
550,167
379,389
9/28/1987
N/A
Cincinnati
OH
-
341,343
558,543
-
-
341,343
558,543
899,886
12/27/2018
Cincinnati
OH
-
707,479
1,157,655
-
-
707,479
1,157,655
1,865,134
1,929
12/27/2018
Dublin
OH
-
84,000
389,446
-
-
84,000
389,446
473,446
389,446
10/8/1985
N/A
Englewood
OH
-
74,000
343,083
-
74,000
343,168
417,168
343,168
10/23/1985
N/A
Huber Heights
OH
-
245,000
544,153
-
-
245,000
544,153
789,153
544,153
9/27/1990
N/A
Pickerington
OH
-
87,580
406,055
-
-
87,580
406,055
493,635
406,055
12/11/1986
N/A
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Westerville
OH
-
82,000
380,173
-
-
82,000
380,173
462,173
380,173
10/8/1985
N/A
Broken Arrow
OK
-
78,705
220,434
-
-
78,705
220,434
299,139
220,434
1/27/1983
N/A
Midwest City
OK
-
67,800
314,338
-
-
67,800
314,338
382,138
314,338
8/14/1985
N/A
Oklahoma City
OK
-
50,800
214,474
-
-
50,800
214,474
265,274
214,474
6/15/1982
N/A
Oklahoma City
OK
-
79,000
366,261
17,659
-
79,000
383,921
462,921
383,921
11/14/1984
N/A
Yukon
OK
-
61,000
282,812
27,000
-
61,000
309,812
370,812
308,752
5/2/1985
Yukon (Oklahoma City)
OK
-
522,335
854,701
-
-
522,335
854,701
1,377,036
1,425
12/27/2018
Lansdale
PA
-
664,441
1,087,231
-
-
664,441
1,087,231
1,751,672
1,812
12/27/2018
West Chester
PA
-
1,109,622
1,815,685
-
-
1,109,622
1,815,685
2,925,307
3,026
12/27/2018
York
PA
-
488,392
799,161
-
-
488,392
799,161
1,287,553
1,332
12/27/2018
Charleston
SC
-
140,700
312,498
25,000
140,700
337,652
478,352
336,262
3/28/1989
Columbia
SC
-
58,160
269,643
-
-
58,160
269,643
327,803
269,643
11/14/1984
N/A
Columbia
SC
-
160,831
313,600
-
-
160,831
313,600
474,431
313,600
12/14/1989
N/A
Goose Creek
SC
-
61,635
192,905
-
61,635
193,058
254,693
193,058
12/22/1981
N/A
North Charleston
SC
-
125,593
278,947
12,126
14,855
125,593
305,928
431,521
303,449
5/26/1988
Summerville
SC
-
44,400
174,500
-
44,400
174,653
219,053
174,653
12/22/1981
N/A
Memphis
TN
-
238,000
531,342
161,804
9,063
238,000
702,209
940,209
571,618
9/30/1988
Arlington
TX
-
241,500
550,559
88,432
5,242
241,500
644,233
885,733
590,900
9/22/1989
Austin
TX
-
88,872
222,684
124,002
88,872
346,967
435,839
271,601
1/12/1983
Austin
TX
-
134,383
623,103
2,379
21,981
134,383
647,463
781,846
644,144
12/23/1986
Austin
TX
-
191,636
425,629
15,530
-
191,636
441,159
632,795
441,159
12/22/1988
N/A
Austin
TX
-
217,878
483,913
149,228
9,167
217,878
642,308
860,186
561,873
6/22/1989
Bedford
TX
-
241,500
550,559
34,949
-
241,500
585,507
827,007
585,507
9/22/1989
N/A
Carrollton
TX
-
277,850
617,113
52,614
277,850
669,988
947,838
649,182
12/11/1987
Cedar Park
TX
-
168,857
375,036
5,200
168,857
380,375
549,232
380,375
11/21/1988
N/A
Colleyville
TX
-
250,000
1,070,360
-
250,000
1,070,462
1,320,462
822,540
5/14/1999
Corinth
TX
-
285,000
1,041,626
-
-
285,000
1,041,626
1,326,626
807,255
5/19/1999
Cypress
TX
-
294,582
919,276
-
-
294,582
919,276
1,213,858
727,809
8/14/1998
Cypress
TX
-
1,130,058
1,849,125
-
-
1,130,058
1,849,125
2,979,183
3,082
12/27/2018
Euless
TX
-
234,111
519,962
-
-
234,111
519,962
754,073
519,962
5/8/1987
N/A
Flower Mound
TX
-
202,773
442,845
32,069
16,315
202,773
491,229
694,002
484,252
4/20/1987
Flower Mound
TX
-
281,735
1,099,726
49,070
31,678
281,735
1,180,475
1,462,210
908,767
1/13/1999
Fort Worth
TX
-
85,518
399,293
51,953
12,923
85,518
464,168
549,686
436,965
12/3/1986
Fort Worth
TX
-
238,000
528,608
73,662
238,000
602,362
840,362
568,550
9/26/1988
Fort Worth
TX
-
216,160
427,962
-
216,160
428,015
644,175
428,015
2/7/1991
N/A
Grand Prairie
TX
-
167,164
376,847
52,635
28,539
167,164
458,020
625,184
440,124
12/13/1988
Houston
TX
-
139,125
308,997
19,128
139,125
328,412
467,537
328,527
5/22/1987
Houston
TX
-
149,109
323,314
27,979
149,109
351,538
500,647
341,545
6/26/1989
Houston
TX
-
688,723
1,126,964
-
-
688,723
1,126,964
1,815,687
1,878
12/27/2018
Humble
TX
-
278,915
1,034,868
-
-
278,915
1,034,868
1,313,783
798,603
5/14/1999
Katy
TX
-
309,898
983,041
-
-
309,898
983,041
1,292,939
784,820
8/21/1998
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Lewisville
TX
-
192,777
428,121
47,371
192,777
475,587
668,364
461,442
1/7/1987
Mansfield
TX
-
181,375
402,839
46,878
181,375
449,800
631,175
444,860
12/20/1989
Plano
TX
-
261,912
581,658
52,751
261,912
634,707
896,619
618,765
1/6/1987
Plano
TX
-
250,514
556,399
33,978
250,514
590,802
841,316
579,500
12/10/1987
Prosper
TX
-
760,608
2,989,392
-
-
760,608
2,989,392
3,750,000
134,523
11/3/2017
San Antonio
TX
-
130,833
606,596
43,050
22,373
130,833
672,019
802,852
646,147
3/24/1986
San Antonio
TX
-
102,512
475,288
54,593
16,961
102,512
546,842
649,354
514,506
12/3/1986
San Antonio
TX
-
81,530
378,007
-
-
81,530
378,007
459,537
378,007
12/11/1986
N/A
San Antonio
TX
-
181,412
402,923
-
181,412
403,063
584,475
403,063
7/7/1987
N/A
San Antonio
TX
-
234,500
520,831
-
234,500
520,970
755,470
520,970
12/29/1987
N/A
San Antonio
TX
-
217,000
481,967
32,529
-
217,000
514,496
731,496
514,496
10/14/1988
N/A
San Antonio
TX
-
182,868
406,155
18,940
-
182,868
425,095
607,963
425,095
12/6/1988
N/A
San Antonio
TX
-
220,500
447,108
-
-
220,500
447,108
667,608
447,108
3/30/1989
N/A
Sugar Land
TX
-
339,310
1,000,876
-
-
339,310
1,000,876
1,340,186
779,013
1/13/1999
Mesquite
TX
-
139,466
326,525
37,647
139,466
364,559
504,025
344,439
10/8/1992
N/A
Layton
UT
-
136,574
269,008
-
-
136,574
269,008
405,582
269,008
2/1/1990
N/A
Sandy
UT
-
168,089
373,330
-
-
168,089
373,330
541,419
373,330
2/1/1990
N/A
Centreville
VA
-
371,000
824,003
-
371,000
824,466
1,195,466
824,466
9/29/1989
N/A
Chesapeake
VA
-
190,050
422,107
24,568
-
190,050
446,675
636,725
445,518
3/28/1989
Glen Allen
VA
-
74,643
346,060
-
74,643
346,214
420,857
346,214
6/20/1984
N/A
Portsmouth
VA
-
171,575
381,073
24,932
-
171,575
406,005
577,580
404,863
12/21/1988
Richmond
VA
-
721,039
1,179,843
-
-
721,039
1,179,843
1,900,882
1,966
12/27/2018
Roanoke
VA
-
412,095
1,357,905
-
-
412,095
1,357,905
1,770,000
20,369
8/31/2018
Virginia Beach
VA
-
534,285
874,255
-
-
534,285
874,255
1,408,540
1,457
12/27/2018
Bremerton
WA
-
405,837
664,076
-
-
405,837
664,076
1,069,913
1,107
12/27/2018
Federal Way
WA
-
150,785
699,101
-
150,785
699,207
849,992
699,207
12/17/1986
N/A
Federal Way
WA
-
261,943
581,782
27,500
261,943
609,388
871,331
607,832
11/21/1988
Gig Harbor
WA
-
823,172
1,346,964
-
-
823,172
1,346,964
2,170,136
2,245
12/27/2018
Kent
WA
-
140,763
678,809
36,500
-
140,763
715,309
856,072
715,309
12/17/1986
N/A
Kirkland
WA
-
301,000
668,534
-
301,000
668,641
969,641
668,641
3/31/1988
N/A
Puyallup
WA
-
195,552
434,327
27,000
195,552
461,434
656,986
460,155
12/6/1988
Redmond
WA
-
279,830
621,513
-
279,830
621,620
901,450
621,620
7/27/1987
N/A
Renton
WA
-
111,183
515,490
-
-
111,183
515,490
626,673
515,490
3/24/1986
N/A
Silverdale
WA
-
586,461
959,631
-
-
586,461
959,631
1,546,092
1,599
12/27/2018
Tacoma
WA
-
642,892
1,051,970
-
-
642,892
1,051,970
1,694,862
1,753
12/27/2018
Appleton
WI
-
196,000
424,038
-
196,000
424,447
620,447
424,447
7/10/1990
N/A
Waukesha
WI
-
233,100
461,500
-
233,100
461,711
694,811
461,711
12/13/1990
N/A
Waukesha
WI
-
215,950
427,546
-
215,950
427,954
643,904
427,954
12/13/1990
N/A
Consumer Appliance
North Liberty
IA
-
6,395,970
19,385,806
76,574
-
6,395,970
19,462,380
25,858,350
3,300,203
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Greenville
OH
-
1,704,130
28,221,803
33,377
1,704,130
28,255,235
29,959,365
4,042,920
7/31/2012
Marion
OH
-
801,003
25,410,810
-
-
801,003
25,410,810
26,211,813
4,325,888
1/22/2013
Consumer Electronics
Tampa
FL
-
401,874
933,768
103,336
32,053
401,874
1,069,157
1,471,031
921,268
12/23/1997
Smyrna
GA
-
1,094,058
3,090,236
-
-
1,094,058
3,090,236
4,184,294
2,662,639
6/9/1997
Coumbia
MD
-
3,283,579
3,105,146
-
-
3,283,579
3,105,146
6,388,725
139,732
11/3/2017
Jackson
MI
-
550,162
571,590
-
550,162
571,800
1,121,962
454,705
9/25/1998
Pineville
NC
-
567,864
840,284
37,249
567,864
877,686
1,445,550
706,559
12/31/1998
Albion
NY
-
170,589
317,424
145,229
7,680
170,589
470,333
640,922
273,173
3/31/1999
Wellsville
NY
-
161,331
300,231
108,853
11,520
161,331
420,604
581,935
251,670
3/31/1999
Westbury
NY
-
6,333,590
3,952,773
489,501
-
6,333,590
4,442,274
10,775,864
3,524,246
9/29/1997
Austin
TX
-
3,630,000
5,083,734
-
-
3,630,000
5,083,734
8,713,734
889,653
8/19/2014
Fredericksburg
VA
-
2,060,000
3,638,672
-
-
2,060,000
3,638,672
5,698,672
321,416
10/31/2016
Consumer Goods
DeKalb
IL
-
3,507,503
50,808,610
-
-
3,507,503
50,808,610
54,316,113
8,649,561
1/22/2013
Loves Park
IL
-
1,191,147
15,857,995
-
-
1,191,147
15,857,995
17,049,142
1,734,659
1/22/2013
Rural Hall
NC
-
710,000
17,739,591
75,975
-
710,000
17,815,566
18,525,566
1,679,062
9/22/2015
Grantsville
UT
-
1,719,381
40,160,295
-
-
1,719,381
40,160,295
41,879,676
6,836,812
1/22/2013
Convenience Stores
Daphne
AL
-
140,000
391,637
-
-
140,000
391,637
531,637
231,716
3/18/2004
Mobile
AL
-
190,000
301,637
-
-
190,000
301,637
491,637
178,466
3/18/2004
Mobile
AL
-
180,000
421,637
-
-
180,000
421,637
601,637
249,466
3/18/2004
North Little Rock
AR
-
1,138,381
2,114,137
-
-
1,138,381
2,114,137
3,252,518
490,291
3/29/2013
Florence
AZ
-
150,000
371,637
-
-
150,000
371,637
521,637
219,883
3/18/2004
Gilbert
AZ
-
680,000
1,111,637
-
-
680,000
1,111,637
1,791,637
657,716
3/18/2004
Glendale
AZ
-
610,000
531,637
-
-
610,000
531,637
1,141,637
314,549
3/18/2004
Glendale
AZ
-
400,000
931,637
-
-
400,000
931,637
1,331,637
551,216
3/18/2004
Maricopa
AZ
-
170,000
361,637
-
-
170,000
361,637
531,637
213,966
3/18/2004
Mesa
AZ
-
560,000
821,637
-
-
560,000
821,637
1,381,637
486,133
3/18/2004
Mesa
AZ
-
750,000
1,071,637
-
-
750,000
1,071,637
1,821,637
634,049
3/18/2004
Mesa
AZ
-
810,000
1,061,637
-
-
810,000
1,061,637
1,871,637
628,133
3/18/2004
Mesa
AZ
-
890,000
1,081,637
-
-
890,000
1,081,637
1,971,637
639,966
3/18/2004
Mesa
AZ
-
780,000
1,071,637
-
-
780,000
1,071,637
1,851,637
634,049
3/18/2004
Mesa
AZ
-
900,000
1,191,637
-
-
900,000
1,191,637
2,091,637
705,049
3/18/2004
Payson
AZ
-
210,000
351,637
-
-
210,000
351,637
561,637
208,049
3/18/2004
Payson
AZ
-
260,000
311,637
-
-
260,000
311,637
571,637
184,383
3/18/2004
Peoria
AZ
-
520,000
751,637
-
-
520,000
751,637
1,271,637
444,716
3/18/2004
Phoenix
AZ
-
440,000
511,637
-
-
440,000
511,637
951,637
302,716
3/18/2004
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Phoenix
AZ
-
360,000
421,637
-
-
360,000
421,637
781,637
249,466
3/18/2004
Phoenix
AZ
-
710,000
591,637
-
-
710,000
591,637
1,301,637
350,049
3/18/2004
Phoenix
AZ
-
320,000
661,637
-
-
320,000
661,637
981,637
391,466
3/18/2004
Phoenix
AZ
-
450,000
651,637
-
-
450,000
651,637
1,101,637
385,549
3/18/2004
Phoenix
AZ
-
430,000
711,637
-
-
430,000
711,637
1,141,637
421,049
3/18/2004
Phoenix
AZ
-
730,000
931,637
-
-
730,000
931,637
1,661,637
551,216
3/18/2004
Phoenix
AZ
-
790,000
1,051,637
-
-
790,000
1,051,637
1,841,637
622,216
3/18/2004
Pinetop
AZ
-
170,000
311,637
-
-
170,000
311,637
481,637
184,383
3/18/2004
Queen Creek
AZ
-
520,000
891,637
-
-
520,000
891,637
1,411,637
527,549
3/18/2004
Scottsdale
AZ
-
210,000
201,637
-
-
210,000
201,637
411,637
119,299
3/18/2004
Scottsdale
AZ
-
660,000
1,031,637
-
-
660,000
1,031,637
1,691,637
610,383
3/18/2004
Sierra Vista
AZ
-
110,000
301,637
-
-
110,000
301,637
411,637
178,466
3/18/2004
Tempe
AZ
-
620,000
1,071,637
-
-
620,000
1,071,637
1,691,637
634,049
3/18/2004
Tempe
AZ
-
270,000
461,637
-
-
270,000
461,637
731,637
273,133
3/18/2004
Tolleson
AZ
-
460,000
1,231,637
-
-
460,000
1,231,637
1,691,637
728,716
3/18/2004
Tombstone
AZ
-
110,000
381,637
-
-
110,000
381,637
491,637
225,799
3/18/2004
Tucson
AZ
-
220,000
311,637
-
-
220,000
311,637
531,637
184,383
3/18/2004
Tucson
AZ
-
550,000
511,637
-
-
550,000
511,637
1,061,637
302,716
3/18/2004
Tucson
AZ
-
126,000
234,565
-
-
126,000
234,565
360,565
138,003
4/14/2004
Wellton
AZ
-
120,000
291,637
-
-
120,000
291,637
411,637
172,549
3/18/2004
Wickenburg
AZ
-
150,000
291,637
-
-
150,000
291,637
441,637
172,549
3/18/2004
Clovis
CA
-
990,000
823,746
-
-
990,000
823,746
1,813,746
67,111
12/21/2016
King City
CA
-
2,520,000
1,888,720
-
-
2,520,000
1,888,720
4,408,720
153,766
12/21/2016
Lake Elsinore
CA
-
1,260,000
1,570,000
-
-
1,260,000
1,570,000
2,830,000
128,119
12/21/2016
Merced
CA
-
840,000
857,459
-
-
840,000
857,459
1,697,459
69,782
12/21/2016
Oakhurst
CA
-
740,000
930,904
-
-
740,000
930,904
1,670,904
75,759
12/21/2016
Richmond
CA
-
2,088,655
2,611,345
-
-
2,088,655
2,611,345
4,700,000
212,615
12/21/2016
Sacramento
CA
-
1,737,297
2,172,059
-
-
1,737,297
2,172,059
3,909,356
176,848
12/21/2016
San Jose
CA
-
4,630,000
1,020,000
-
-
4,630,000
1,020,000
5,650,000
83,024
12/21/2016
Sand City
CA
-
2,290,000
1,600,000
-
-
2,290,000
1,600,000
3,890,000
130,454
12/21/2016
Santa Cruz
CA
-
1,210,000
636,085
-
-
1,210,000
636,085
1,846,085
51,659
12/21/2016
Santa Cruz
CA
-
1,200,000
563,273
-
-
1,200,000
563,273
1,763,273
45,850
12/21/2016
Stockton
CA
-
1,051,621
1,314,791
-
-
1,051,621
1,314,791
2,366,412
107,050
12/21/2016
Aurora
CO
-
1,040,000
1,928,302
-
-
1,040,000
1,928,302
2,968,302
156,948
12/21/2016
Brighton
CO
-
510,000
1,794,977
-
-
510,000
1,794,977
2,304,977
146,077
12/21/2016
Colorado Springs
CO
-
1,103,650
2,049,635
-
-
1,103,650
2,049,635
3,153,285
475,348
3/29/2013
Colorado Springs
CO
-
800,000
1,780,000
-
-
800,000
1,780,000
2,580,000
144,825
12/21/2016
Colorado Springs
CO
-
1,157,717
1,447,438
-
-
1,157,717
1,447,438
2,605,155
117,850
12/21/2016
Colorado Springs
CO
-
1,424,018
1,774,083
-
-
1,424,018
1,774,083
3,198,101
144,421
12/21/2016
Henderson
CO
-
1,180,000
1,845,489
-
-
1,180,000
1,845,489
3,025,489
150,202
12/21/2016
Peyton
CO
-
1,403,283
1,998,754
-
-
1,403,283
1,998,754
3,402,037
162,730
12/21/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Vernon
CT
-
179,646
319,372
-
179,646
319,385
499,031
303,948
3/9/1995
Westbrook
CT
-
98,247
373,340
-
-
98,247
373,340
471,587
355,295
3/9/1995
Camden
DE
-
113,811
174,435
-
-
113,811
174,435
288,246
110,178
3/19/2003
Camden
DE
-
250,528
379,165
-
-
250,528
379,165
629,693
239,499
3/19/2003
Dewey
DE
-
147,465
224,665
-
-
147,465
224,665
372,130
141,906
3/19/2003
Dover
DE
-
278,804
421,707
-
-
278,804
421,707
700,511
266,371
3/19/2003
Dover
DE
-
367,137
554,207
-
-
367,137
554,207
921,344
350,067
3/19/2003
Dover
DE
-
367,425
554,884
-
-
367,425
554,884
922,309
350,495
3/19/2003
Felton
DE
-
307,260
464,391
-
-
307,260
464,391
771,651
293,333
3/19/2003
Greenwood
DE
-
632,303
1,176,711
-
-
632,303
1,176,711
1,809,014
523,635
11/28/2007
Harrington
DE
-
563,812
849,220
-
-
563,812
849,220
1,413,032
536,417
3/19/2003
Milford
DE
-
310,049
468,575
-
-
310,049
468,575
778,624
295,976
3/19/2003
New Castle
DE
-
589,325
887,488
-
-
589,325
887,488
1,476,813
560,589
3/19/2003
Smyrna
DE
-
121,774
186,436
-
-
121,774
186,436
308,210
117,758
3/19/2003
Smyrna
DE
-
401,135
605,332
-
-
401,135
605,332
1,006,467
382,361
3/19/2003
Townsend
DE
-
241,416
365,749
-
-
241,416
365,749
607,165
231,024
3/19/2003
Wilmington
DE
-
280,682
424,525
-
-
280,682
424,525
705,207
268,151
3/19/2003
Apopka
FL
-
1,607,879
2,003,141
-
-
1,607,879
2,003,141
3,611,020
163,067
12/21/2016
Archer
FL
-
296,238
578,145
-
-
296,238
578,145
874,383
453,843
5/7/1999
Bradenton
FL
-
946,638
1,672,027
-
-
946,638
1,672,027
2,618,665
398,677
1/22/2013
Bradenton
FL
-
414,000
109,000
-
-
414,000
109,000
523,000
25,778
3/8/2013
Bushnell
FL
-
130,000
291,637
-
-
130,000
291,637
421,637
172,549
3/18/2004
Bushnell
FL
-
1,660,211
1,302,926
-
-
1,660,211
1,302,926
2,963,137
41,259
3/28/2018
Cape Coral
FL
-
1,460,725
1,826,275
-
-
1,460,725
1,826,275
3,287,000
148,695
12/21/2016
Cape Coral
FL
-
260,000
1,667,327
-
-
260,000
1,667,327
1,927,327
135,695
12/21/2016
Casselberry
FL
-
1,370,000
2,006,750
-
-
1,370,000
2,006,750
3,376,750
163,340
12/21/2016
Clearwater
FL
-
359,792
311,845
-
-
359,792
311,845
671,637
184,506
3/18/2004
Clearwater
FL
-
1,140,824
1,006,445
-
-
1,140,824
1,006,445
2,147,269
31,871
3/28/2018
Cocoa
FL
-
323,827
287,810
-
-
323,827
287,810
611,637
170,285
3/18/2004
Coral Springs
FL
-
842,439
1,049,534
-
-
842,439
1,049,534
1,891,973
85,438
12/21/2016
Deerfield Beach
FL
-
1,600,000
982,745
-
-
1,600,000
982,745
2,582,745
80,013
12/21/2016
Deltona
FL
-
140,000
321,637
-
-
140,000
321,637
461,637
190,299
3/18/2004
Englewood
FL
-
270,000
331,637
-
-
270,000
331,637
601,637
196,216
3/18/2004
Englewood
FL
-
1,051,545
927,683
-
-
1,051,545
927,683
1,979,228
29,377
3/28/2018
Estero
FL
-
750,000
1,926,751
-
-
750,000
1,926,751
2,676,751
156,786
12/21/2016
Fort Lauderdale
FL
-
1,589,155
1,986,845
-
-
1,589,155
1,986,845
3,576,000
161,768
12/21/2016
Fort Lauderdale
FL
-
2,630,000
1,487,205
-
-
2,630,000
1,487,205
4,117,205
121,179
12/21/2016
Fort Myers
FL
-
1,569,552
1,955,393
-
-
1,569,552
1,955,393
3,524,945
159,180
12/21/2016
Fort Myers
FL
-
1,050,000
1,892,065
-
-
1,050,000
1,892,065
2,942,065
153,952
12/21/2016
Fort Myers
FL
-
1,195,358
1,702,597
-
-
1,195,358
1,702,597
2,897,955
138,618
12/21/2016
Gainesville
FL
-
515,834
873,187
-
-
515,834
873,187
1,389,021
685,451
5/7/1999
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Gainesville
FL
-
480,318
600,633
-
-
480,318
600,633
1,080,951
471,496
5/7/1999
Gainesville
FL
-
347,310
694,859
-
-
347,310
694,859
1,042,169
545,463
5/7/1999
Gainesville
FL
-
339,263
658,807
-
-
339,263
658,807
998,070
517,162
5/7/1999
Gainesville
FL
-
351,921
552,557
-
-
351,921
552,557
904,478
433,756
5/7/1999
Gainesville
FL
-
500,032
850,291
-
-
500,032
850,291
1,350,323
667,477
5/7/1999
Homosassa Springs
FL
-
740,000
621,637
-
-
740,000
621,637
1,361,637
367,799
3/18/2004
Hudson
FL
-
300,000
351,637
-
-
300,000
351,637
651,637
208,049
3/18/2004
Intercession City
FL
-
161,776
319,861
-
-
161,776
319,861
481,637
189,249
3/18/2004
Jacksonville
FL
-
266,111
494,206
-
-
266,111
494,206
760,317
290,758
4/1/2004
Jupiter
FL
-
1,591,966
2,267,502
-
-
1,591,966
2,267,502
3,859,468
184,610
12/21/2016
Jupiter
FL
-
2,540,000
1,449,889
-
-
2,540,000
1,449,889
3,989,889
118,154
12/21/2016
Key West
FL
-
873,700
627,937
-
-
873,700
627,937
1,501,637
371,527
3/18/2004
Key West
FL
-
492,785
208,852
-
-
492,785
208,852
701,637
123,568
3/18/2004
Kissimmee
FL
-
920,000
2,075,994
-
-
920,000
2,075,994
2,995,994
169,043
12/21/2016
Kissimmee
FL
-
920,000
2,121,172
-
-
920,000
2,121,172
3,041,172
172,699
12/21/2016
Lake Mary
FL
-
1,720,000
1,592,384
-
-
1,720,000
1,592,384
3,312,384
129,596
12/21/2016
Lake Worth
FL
-
2,440,000
1,113,008
-
-
2,440,000
1,113,008
3,553,008
90,651
12/21/2016
Lakeland
FL
-
527,076
464,561
-
-
527,076
464,561
991,637
274,863
3/18/2004
Lakeland
FL
-
300,000
321,637
-
-
300,000
321,637
621,637
190,299
3/18/2004
Land O Lakes
FL
-
120,000
361,637
-
-
120,000
361,637
481,637
213,966
3/18/2004
Largo
FL
-
900,000
1,475,882
-
-
900,000
1,475,882
2,375,882
276,164
8/13/2013
Lehigh Acres
FL
-
1,363,701
1,942,375
-
-
1,363,701
1,942,375
3,306,076
158,140
12/21/2016
Lutz
FL
-
480,000
421,637
-
-
480,000
421,637
901,637
249,466
3/18/2004
Melbourne
FL
-
1,285,050
1,563,478
-
-
1,285,050
1,563,478
2,848,528
49,510
3/28/2018
Miramar
FL
-
1,691,444
2,114,731
-
-
1,691,444
2,114,731
3,806,175
172,180
12/21/2016
Miramar
FL
-
1,755,308
2,500,157
-
-
1,755,308
2,500,157
4,255,465
203,552
12/21/2016
Moore Haven
FL
-
180,342
331,295
-
-
180,342
331,295
511,637
196,014
3/18/2004
Mount Dora
FL
-
1,423,518
2,514,329
-
-
1,423,518
2,514,329
3,937,847
599,514
1/22/2013
Naples
FL
-
150,000
301,637
-
-
150,000
301,637
451,637
178,466
3/18/2004
Naples
FL
-
620,000
381,637
-
-
620,000
381,637
1,001,637
225,799
3/18/2004
Naples
FL
-
1,372,465
1,715,927
-
-
1,372,465
1,715,927
3,088,392
139,710
12/21/2016
Naples
FL
-
3,600,000
1,536,146
-
-
3,600,000
1,536,146
5,136,146
125,155
12/21/2016
New Port Richey
FL
-
190,000
601,637
-
-
190,000
601,637
791,637
355,966
3/18/2004
North Fort Myers
FL
-
140,000
281,637
-
-
140,000
281,637
421,637
166,633
3/18/2004
Ocoee
FL
-
1,421,322
1,770,724
-
-
1,421,322
1,770,724
3,192,046
144,147
12/21/2016
Okeechobee
FL
-
195,075
346,562
-
-
195,075
346,562
541,637
205,047
3/18/2004
Orlando
FL
-
240,000
301,637
-
-
240,000
301,637
541,637
178,466
3/18/2004
Orlando
FL
-
1,326,905
1,653,095
-
-
1,326,905
1,653,095
2,980,000
134,572
12/21/2016
Orlando
FL
-
1,240,000
2,690,000
-
-
1,240,000
2,690,000
3,930,000
219,140
12/21/2016
Orlando
FL
-
1,946,307
2,772,204
-
-
1,946,307
2,772,204
4,718,511
225,701
12/21/2016
Orlando
FL
-
1,217,982
1,522,784
-
-
1,217,982
1,522,784
2,740,766
123,984
12/21/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Orlando
FL
-
1,010,000
1,421,356
-
-
1,010,000
1,421,356
2,431,356
115,835
12/21/2016
Orlando
FL
-
1,290,000
955,589
-
-
1,290,000
955,589
2,245,589
77,880
12/21/2016
Oviedo
FL
-
950,897
1,184,655
-
-
950,897
1,184,655
2,135,552
96,438
12/21/2016
Palm Bay
FL
-
230,880
300,757
-
-
230,880
300,757
531,637
177,945
3/18/2004
Palm Bay
FL
-
2,265,855
1,711,979
-
-
2,265,855
1,711,979
3,977,834
54,213
3/28/2018
Palm Beach Gardns
FL
-
2,040,000
1,121,312
-
-
2,040,000
1,121,312
3,161,312
90,930
12/21/2016
Palm Harbor
FL
-
510,000
381,637
-
-
510,000
381,637
891,637
225,799
3/18/2004
Panama City
FL
-
210,000
431,637
-
-
210,000
431,637
641,637
255,383
3/18/2004
Pensacola
FL
-
168,000
312,727
-
-
168,000
312,727
480,727
183,985
4/14/2004
Plantation
FL
-
2,260,000
1,617,690
-
-
2,260,000
1,617,690
3,877,690
131,551
12/21/2016
Port Charlotte
FL
-
170,000
311,637
-
-
170,000
311,637
481,637
184,383
3/18/2004
Port Charlotte
FL
-
200,000
356,637
-
-
200,000
356,637
556,637
211,008
3/18/2004
Port Orange
FL
-
609,438
512,199
-
-
609,438
512,199
1,121,637
303,048
3/18/2004
Port Saint Lucie
FL
-
1,050,000
1,968,282
-
-
1,050,000
1,968,282
3,018,282
160,200
12/21/2016
Punta Gorda
FL
-
400,000
511,637
-
-
400,000
511,637
911,637
302,716
3/18/2004
Riverview
FL
-
1,930,000
1,423,752
-
-
1,930,000
1,423,752
3,353,752
292,094
8/13/2012
Sanford
FL
-
1,685,711
2,401,027
-
-
1,685,711
2,401,027
4,086,738
195,481
12/21/2016
Sarasota
FL
-
2,700,000
1,406,134
-
-
2,700,000
1,406,134
4,106,134
114,520
12/21/2016
Stuart
FL
-
2,103,649
2,620,786
-
-
2,103,649
2,620,786
4,724,435
213,347
12/21/2016
Tallahassee
FL
-
600,000
341,637
-
-
600,000
341,637
941,637
202,133
3/18/2004
Tamarac
FL
-
1,551,449
2,209,791
-
-
1,551,449
2,209,791
3,761,240
179,912
12/21/2016
Tampa
FL
-
300,000
301,637
-
-
300,000
301,637
601,637
178,466
3/18/2004
Tampa
FL
-
380,000
361,637
-
-
380,000
361,637
741,637
213,966
3/18/2004
Tampa
FL
-
320,000
591,637
-
-
320,000
591,637
911,637
350,049
3/18/2004
Webster
FL
-
640,000
1,071,637
-
-
640,000
1,071,637
1,711,637
634,049
3/18/2004
West Palm Beach
FL
-
1,080,645
1,351,079
-
-
1,080,645
1,351,079
2,431,724
110,004
12/21/2016
Winter Springs
FL
-
150,000
291,637
-
-
150,000
291,637
441,637
172,549
3/18/2004
Zephyrhills
FL
-
944,539
1,495,185
-
-
944,539
1,495,185
2,439,724
27,412
7/17/2018
Augusta
GA
-
620,000
383,232
-
-
620,000
383,232
1,003,232
298,278
7/22/1999
Augusta
GA
-
540,000
337,853
-
-
540,000
337,853
877,853
262,959
7/22/1999
Augusta
GA
-
510,000
392,929
-
-
510,000
392,929
902,929
305,826
7/22/1999
Augusta
GA
-
180,000
422,020
-
-
180,000
422,020
602,020
328,469
7/22/1999
Augusta
GA
-
260,000
392,171
-
-
260,000
392,171
652,171
305,237
7/22/1999
Augusta
GA
-
240,000
451,637
-
-
240,000
451,637
691,637
267,216
3/18/2004
Calhoun
GA
-
122,500
228,742
-
-
122,500
228,742
351,242
139,145
10/16/2003
Calhoun
GA
-
262,500
488,742
-
-
262,500
488,742
751,242
297,312
10/16/2003
Cartersville
GA
-
262,500
488,742
-
-
262,500
488,742
751,242
297,312
10/16/2003
Chatsworth
GA
-
140,000
261,242
-
-
140,000
261,242
401,242
158,916
10/16/2003
Chatsworth
GA
-
140,000
261,242
-
-
140,000
261,242
401,242
158,916
10/16/2003
Chatsworth
GA
-
140,000
261,242
-
-
140,000
261,242
401,242
158,916
10/16/2003
Chickamauga
GA
-
181,731
338,742
-
-
181,731
338,742
520,473
206,062
10/16/2003
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Dalton
GA
-
171,500
319,742
-
-
171,500
319,742
491,242
194,503
10/16/2003
Dalton
GA
-
87,500
163,742
-
-
87,500
163,742
251,242
99,603
10/16/2003
Dalton
GA
-
485,650
903,162
-
-
485,650
903,162
1,388,812
549,418
10/16/2003
Dalton
GA
-
146,000
272,385
-
-
146,000
272,385
418,385
165,695
10/16/2003
Dalton
GA
-
420,000
781,242
-
-
420,000
781,242
1,201,242
475,249
10/16/2003
Dalton
GA
-
210,000
391,242
-
-
210,000
391,242
601,242
237,999
10/16/2003
Dalton
GA
-
332,500
618,742
-
-
332,500
618,742
951,242
376,395
10/16/2003
Dalton
GA
-
437,500
813,742
-
-
437,500
813,742
1,251,242
495,020
10/16/2003
Decatur
GA
-
529,383
532,429
-
529,383
532,725
1,062,108
459,012
6/27/1997
Decatur
GA
-
1,622,631
2,866,018
-
-
1,622,631
2,866,018
4,488,649
683,371
1/22/2013
Dunwoody
GA
-
545,462
724,254
-
545,462
724,550
1,270,012
624,293
6/27/1997
Flintstone
GA
-
157,500
293,742
-
-
157,500
293,742
451,242
178,687
10/16/2003
La Fayette
GA
-
122,500
228,742
-
-
122,500
228,742
351,242
139,145
10/16/2003
Lithonia
GA
-
386,784
776,436
-
-
386,784
776,436
1,163,220
668,972
6/27/1997
Mableton
GA
-
491,069
355,957
-
-
491,069
355,957
847,026
306,668
6/27/1997
Martinez
GA
-
450,000
402,777
-
-
450,000
402,777
852,777
313,491
7/22/1999
Martinez
GA
-
830,000
871,637
-
-
830,000
871,637
1,701,637
515,716
3/18/2004
Norcross
GA
-
384,162
651,273
-
-
384,162
651,273
1,035,435
561,120
6/27/1997
Ringgold
GA
-
226,671
1,168,914
-
-
226,671
1,168,914
1,395,585
659,860
10/16/2003
Ringgold
GA
-
363,825
716,242
-
-
363,825
716,242
1,080,067
435,708
10/16/2003
Ringgold
GA
-
482,251
896,851
-
-
482,251
896,851
1,379,102
545,579
10/16/2003
Rocky Face
GA
-
164,231
306,241
-
-
164,231
306,241
470,472
186,291
10/16/2003
Rome
GA
-
210,000
391,242
-
-
210,000
391,242
601,242
237,999
10/16/2003
Rome
GA
-
199,199
371,183
-
-
199,199
371,183
570,382
225,797
10/16/2003
Rome
GA
-
179,762
375,997
-
-
179,762
375,997
555,759
228,726
10/16/2003
Rome
GA
-
315,000
586,242
-
-
315,000
586,242
901,242
356,624
10/16/2003
Rossville
GA
-
157,500
293,742
-
-
157,500
293,742
451,242
178,687
10/16/2003
Summerville
GA
-
66,231
124,242
-
-
66,231
124,242
190,473
75,574
10/16/2003
Trenton
GA
-
129,231
241,242
-
-
129,231
241,242
370,473
146,749
10/16/2003
Adair
IA
-
779,853
1,377,438
-
-
779,853
1,377,438
2,157,291
328,435
1/22/2013
Ankeny
IA
-
1,050,000
1,848,552
-
-
1,050,000
1,848,552
2,898,552
113,994
6/30/2017
Neola
IA
-
784,675
1,385,954
-
-
784,675
1,385,954
2,170,629
330,466
1/22/2013
Norwalk
IA
-
500,000
1,268,448
-
-
500,000
1,268,448
1,768,448
78,221
6/30/2017
Belvidere
IL
-
768,748
1,427,676
-
-
768,748
1,427,676
2,196,424
517,153
12/28/2009
Dekalb
IL
-
661,500
1,228,500
-
-
661,500
1,228,500
1,890,000
445,388
12/28/2009
Godfrey
IL
-
374,586
733,190
-
-
374,586
733,190
1,107,776
631,701
6/27/1997
Granite City
IL
-
362,287
737,255
-
-
362,287
737,255
1,099,542
635,205
6/27/1997
Hartford
IL
-
599,172
1,112,747
-
-
599,172
1,112,747
1,711,919
403,524
12/28/2009
Loves Park
IL
-
547,582
1,018,023
-
-
547,582
1,018,023
1,565,605
450,463
12/20/2007
Loves Park
IL
-
760,725
1,412,775
-
-
760,725
1,412,775
2,173,500
512,034
12/28/2009
Machesney Park
IL
-
562,275
1,044,225
-
-
562,275
1,044,225
1,606,500
378,202
12/28/2009
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Marengo
IL
-
501,948
932,188
-
-
501,948
932,188
1,434,136
337,952
12/28/2009
Monee
IL
-
918,332
1,148,146
-
-
918,332
1,148,146
2,066,478
93,482
12/21/2016
Rochelle
IL
-
607,418
1,129,145
-
-
607,418
1,129,145
1,736,563
499,263
12/20/2007
Rockford
IL
-
463,050
859,950
-
-
463,050
859,950
1,323,000
311,826
12/28/2009
Rockford
IL
-
388,631
721,744
-
-
388,631
721,744
1,110,375
261,841
12/28/2009
Tuscola
IL
-
752,456
1,397,419
-
-
752,456
1,397,419
2,149,875
507,021
12/28/2009
Albany
IN
-
427,437
796,632
-
-
427,437
796,632
1,224,069
371,501
5/25/2007
Alexandria
IN
-
139,219
259,369
-
-
139,219
259,369
398,588
120,603
5/25/2007
Anderson
IN
-
147,263
274,307
-
-
147,263
274,307
421,570
127,550
5/25/2007
Anderson
IN
-
283,430
529,190
-
-
283,430
529,190
812,620
247,140
5/25/2007
Frankfort
IN
-
208,666
390,345
-
-
208,666
390,345
599,011
182,577
5/25/2007
Greenwood
IN
-
173,250
323,022
-
-
173,250
323,022
496,272
150,202
5/25/2007
Hartford City
IN
-
250,310
467,702
-
-
250,310
467,702
718,012
218,548
5/25/2007
Indianapolis
IN
-
129,938
242,134
-
-
129,938
242,134
372,072
112,589
5/25/2007
Indianapolis
IN
-
269,294
502,439
-
-
269,294
502,439
771,733
234,434
5/25/2007
Indianapolis
IN
-
318,432
593,693
-
-
318,432
593,693
912,125
276,866
5/25/2007
Knox
IN
-
341,250
634,999
-
-
341,250
634,999
976,249
285,519
10/9/2007
Lafayette
IN
-
147,263
274,309
-
-
147,263
274,309
421,572
127,550
5/25/2007
Lafayette
IN
-
112,613
209,959
-
-
112,613
209,959
322,572
97,628
5/25/2007
Marion
IN
-
209,196
391,495
-
-
209,196
391,495
600,691
182,844
5/25/2007
Michigan City
IN
-
227,500
423,749
-
-
227,500
423,749
651,249
190,808
10/9/2007
Mishawaka
IN
-
123,983
233,743
-
-
123,983
233,743
357,726
109,757
5/25/2007
Morristown
IN
-
366,590
684,082
-
-
366,590
684,082
1,050,672
319,165
5/25/2007
Muncie
IN
-
103,950
193,870
-
-
103,950
193,870
297,820
90,146
5/25/2007
Muncie
IN
-
184,237
344,974
-
-
184,237
344,974
529,211
161,479
5/25/2007
New Albany
IN
-
181,459
289,353
-
-
181,459
289,353
470,812
275,368
3/3/1995
New Albany
IN
-
262,465
331,796
-
-
262,465
331,796
594,261
315,759
3/6/1995
New Castle
IN
-
203,941
381,519
-
-
203,941
381,519
585,460
178,205
5/25/2007
Richmond
IN
-
281,248
525,089
-
-
281,248
525,089
806,337
244,966
5/25/2007
Richmond
IN
-
255,908
478,528
-
-
255,908
478,528
734,436
223,582
5/25/2007
Rushville
IN
-
138,600
258,672
-
-
138,600
258,672
397,272
120,279
5/25/2007
Rushville
IN
-
121,275
226,497
-
-
121,275
226,497
347,772
105,318
5/25/2007
South Bend
IN
-
372,387
695,064
-
-
372,387
695,064
1,067,451
324,272
5/25/2007
Wabash
IN
-
430,437
802,871
-
-
430,437
802,871
1,233,308
374,402
5/25/2007
Wabash
IN
-
334,923
624,988
-
334,923
625,001
959,924
291,432
5/25/2007
Warsaw
IN
-
415,275
774,213
-
415,275
774,226
1,189,501
360,822
5/25/2007
West Lafayette
IN
-
1,052,628
1,342,855
-
-
1,052,628
1,342,855
2,395,483
625,271
5/25/2007
Zionsville
IN
-
910,595
1,693,926
-
-
910,595
1,693,926
2,604,521
788,743
5/25/2007
Berea
KY
-
252,077
360,815
-
-
252,077
360,815
612,892
343,376
3/8/1995
Elizabethtown
KY
-
286,106
286,106
-
93,004
286,106
379,110
665,216
280,629
3/3/1995
Lebanon
KY
-
158,052
316,105
-
158,052
316,258
474,310
300,979
3/3/1995
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Louisville
KY
-
198,926
368,014
-
-
198,926
368,014
566,940
350,226
3/3/1995
Louisville
KY
-
216,849
605,697
-
-
216,849
605,697
822,546
546,003
11/17/1995
Mount Washington
KY
-
327,245
479,593
-
-
327,245
479,593
806,838
424,472
5/31/1996
Baton Rouge
LA
-
500,000
521,637
-
-
500,000
521,637
1,021,637
308,633
3/18/2004
Baton Rouge
LA
-
210,000
361,637
-
-
210,000
361,637
571,637
213,966
3/18/2004
Bossier City
LA
-
230,000
431,637
-
-
230,000
431,637
661,637
255,383
3/18/2004
Destrehan
LA
-
200,000
411,637
-
-
200,000
411,637
611,637
243,549
3/18/2004
Lafayette
LA
-
240,000
391,637
-
-
240,000
391,637
631,637
231,716
3/18/2004
Pineville
LA
-
170,000
371,637
-
-
170,000
371,637
541,637
219,883
3/18/2004
Shreveport
LA
-
192,500
358,227
-
-
192,500
358,227
550,727
210,754
4/14/2004
Amherst
MA
-
110,969
639,806
-
-
110,969
639,806
750,775
393,481
8/18/2003
North Reading
MA
-
574,601
756,174
-
-
574,601
756,174
1,330,775
465,047
8/18/2003
Revere
MA
-
1,425,557
1,513,027
-
-
1,425,557
1,513,027
2,938,584
27,739
7/17/2018
Revere
MA
-
1,479,502
799,952
-
-
1,479,502
799,952
2,279,454
4,000
11/2/2018
Seekonk
MA
-
298,354
268,518
-
-
298,354
268,518
566,872
255,540
3/3/1995
Berlin
MD
-
255,951
387,395
-
-
255,951
387,395
643,346
244,697
3/19/2003
Columbia
MD
-
2,418,975
2,161,684
-
-
2,418,975
2,161,684
4,580,659
68,453
3/28/2018
Crisfield
MD
-
219,704
333,024
-
-
219,704
333,024
552,728
210,353
3/19/2003
Hebron
MD
-
376,251
567,844
-
-
376,251
567,844
944,095
358,681
3/19/2003
La Plata
MD
-
1,017,544
2,706,729
-
-
1,017,544
2,706,729
3,724,273
1,772,675
8/6/2002
Laurel
MD
-
390,000
1,653,440
-
-
390,000
1,653,440
2,043,440
135,031
12/21/2016
Mechanicsville
MD
-
1,540,335
2,860,928
-
-
1,540,335
2,860,928
4,401,263
1,892,927
6/27/2002
Millersville
MD
-
830,737
2,696,245
-
-
830,737
2,696,245
3,526,982
1,784,057
6/27/2002
Breckenridge
MI
-
437,500
813,468
-
-
437,500
813,468
1,250,968
365,532
10/9/2007
Carson City
MI
-
262,500
488,468
-
-
262,500
488,468
750,968
220,100
10/9/2007
Charlevoix
MI
-
385,000
715,513
-
-
385,000
715,513
1,100,513
322,168
10/9/2007
Cheboygan
MI
-
280,000
520,513
-
-
280,000
520,513
800,513
234,743
10/9/2007
Clare
MI
-
306,250
569,718
-
-
306,250
569,718
875,968
256,527
10/9/2007
Clare
MI
-
229,250
426,718
-
-
229,250
426,718
655,968
191,588
10/9/2007
Comstock Park
MI
-
315,000
586,261
-
-
315,000
586,261
901,261
264,219
10/9/2007
Farwell
MI
-
437,500
813,468
-
-
437,500
813,468
1,250,968
365,808
10/9/2007
Flint
MI
-
194,492
476,504
-
194,492
476,644
671,136
439,318
12/21/1995
Gladwin
MI
-
140,000
260,513
-
-
140,000
260,513
400,513
117,624
10/9/2007
Grand Rapids
MI
-
437,500
813,761
-
-
437,500
813,761
1,251,261
365,663
10/9/2007
Kalamazoo
MI
-
238,000
443,249
-
-
238,000
443,249
681,249
199,275
10/9/2007
Kalkaska
MI
-
437,500
813,013
-
-
437,500
813,013
1,250,513
366,432
10/9/2007
Lake City
MI
-
115,500
215,013
-
-
115,500
215,013
330,513
97,225
10/9/2007
Lakeview
MI
-
96,250
179,718
-
-
96,250
179,718
275,968
81,677
10/9/2007
Mackinaw City
MI
-
455,000
845,513
-
-
455,000
845,513
1,300,513
379,623
10/9/2007
Mecosta
MI
-
122,500
228,468
-
-
122,500
228,468
350,968
102,982
10/9/2007
Midland
MI
-
437,500
813,013
-
-
437,500
813,013
1,250,513
365,604
10/9/2007
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Mount Pleasant
MI
-
162,750
303,294
-
162,750
303,307
466,057
137,368
10/9/2007
Mount Pleasant
MI
-
463,750
862,218
-
-
463,750
862,218
1,325,968
387,389
10/9/2007
Mount Pleasant
MI
-
210,000
390,968
-
-
210,000
390,968
600,968
176,387
10/9/2007
Mount Pleasant
MI
-
437,500
813,468
-
-
437,500
813,468
1,250,968
366,084
10/9/2007
Mount Pleasant
MI
-
350,000
650,968
-
-
350,000
650,968
1,000,968
292,678
10/9/2007
Mount Pleasant
MI
-
175,000
325,968
-
-
175,000
325,968
500,968
146,970
10/9/2007
Petoskey
MI
-
490,000
910,513
-
-
490,000
910,513
1,400,513
408,765
10/9/2007
Prudenville
MI
-
133,000
247,513
-
-
133,000
247,513
380,513
112,348
10/9/2007
Saginaw
MI
-
262,500
488,013
-
-
262,500
488,013
750,513
219,620
10/9/2007
Standish
MI
-
92,750
172,763
-
-
92,750
172,763
265,513
78,283
10/9/2007
Traverse City
MI
-
210,000
391,002
-
-
210,000
391,002
601,002
176,403
10/9/2007
Walker
MI
-
586,250
1,089,999
-
-
586,250
1,089,999
1,676,249
489,511
10/9/2007
Alexandria
MN
-
132,924
246,858
-
-
132,924
246,858
379,782
80,376
12/1/2010
Andover
MN
-
888,706
1,650,454
-
-
888,706
1,650,454
2,539,160
531,867
12/1/2010
Apple Valley
MN
-
350,000
650,000
-
-
350,000
650,000
1,000,000
210,054
12/1/2010
Baxter
MN
-
350,000
650,000
-
-
350,000
650,000
1,000,000
210,054
12/1/2010
Blaine
MN
-
767,270
1,424,929
-
-
767,270
1,424,929
2,192,199
459,323
12/1/2010
Bloomington
MN
-
262,500
487,500
-
-
262,500
487,500
750,000
157,783
12/1/2010
Bloomington
MN
-
676,771
1,256,859
-
-
676,771
1,256,859
1,933,630
405,018
12/1/2010
Brainerd
MN
-
490,000
910,000
-
-
490,000
910,000
1,400,000
294,172
12/1/2010
Brooklyn Center
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,020
12/1/2010
Brooklyn Center
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Brooklyn Center
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Brooklyn Park
MN
-
830,336
1,542,052
-
-
830,336
1,542,052
2,372,388
496,997
12/1/2010
Brooklyn Park
MN
-
578,964
1,075,220
-
-
578,964
1,075,220
1,654,184
346,833
12/1/2010
Brooklyn Park
MN
-
750,697
1,394,151
-
-
750,697
1,394,151
2,144,848
314,536
5/1/2013
Burnsville
MN
-
615,240
1,142,589
-
-
615,240
1,142,589
1,757,829
368,261
12/1/2010
Burnsville
MN
-
515,298
956,981
-
-
515,298
956,981
1,472,279
308,799
12/1/2010
Burnsville
MN
-
350,000
650,000
-
-
350,000
650,000
1,000,000
210,054
12/1/2010
Burnsville
MN
-
932,558
1,731,892
-
-
932,558
1,731,892
2,664,450
558,062
12/1/2010
Chaska
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Chaska
MN
-
490,000
910,000
-
-
490,000
910,000
1,400,000
293,687
12/1/2010
Chaska
MN
-
410,797
762,908
-
-
410,797
762,908
1,173,705
172,507
5/1/2013
Columbia Heights
MN
-
673,068
1,249,983
-
-
673,068
1,249,983
1,923,051
402,806
12/1/2010
Coon Rapids
MN
-
490,000
910,000
-
-
490,000
910,000
1,400,000
293,687
12/1/2010
Cottage Grove
MN
-
805,888
1,496,650
-
-
805,888
1,496,650
2,302,538
482,393
12/1/2010
Crystal
MN
-
552,641
1,026,332
-
-
552,641
1,026,332
1,578,973
331,107
12/1/2010
Crystal
MN
-
740,518
1,375,248
-
-
740,518
1,375,248
2,115,766
443,342
12/1/2010
Eagan
MN
-
906,287
1,683,104
-
-
906,287
1,683,104
2,589,391
542,612
12/1/2010
Eagan
MN
-
699,277
1,298,658
-
-
699,277
1,298,658
1,997,935
418,705
12/1/2010
Eden Prairie
MN
-
947,702
1,760,019
-
-
947,702
1,760,019
2,707,721
566,867
12/1/2010
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Eden Prairie
MN
-
485,526
901,690
-
-
485,526
901,690
1,387,216
291,014
12/1/2010
Edina
MN
-
568,893
1,056,516
-
-
568,893
1,056,516
1,625,409
340,816
12/1/2010
Elk River
MN
-
613,113
1,138,637
-
-
613,113
1,138,637
1,751,750
366,989
12/1/2010
Elk River
MN
-
456,850
848,435
-
-
456,850
848,435
1,305,285
273,884
12/1/2010
Excelsior
MN
-
262,500
487,500
-
-
262,500
487,500
750,000
157,783
12/1/2010
Falcon Heights
MN
-
494,415
918,199
-
-
494,415
918,199
1,412,614
296,325
12/1/2010
Farmington
MN
-
437,500
812,500
-
-
437,500
812,500
1,250,000
262,325
12/1/2010
Forest Lake
MN
-
398,985
740,973
-
-
398,985
740,973
1,139,958
239,074
12/1/2010
Fridley
MN
-
519,325
964,461
-
-
519,325
964,461
1,483,786
311,205
12/1/2010
Fridley
MN
-
706,295
1,311,691
-
-
706,295
1,311,691
2,017,986
422,898
12/1/2010
Fridley
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,512
12/1/2010
Golden Valley
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Ham Lake
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Hastings
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Inver Grove Heigh
MN
-
134,705
250,166
-
-
134,705
250,166
384,871
81,198
12/1/2010
Inver Grove Heigh
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Lakeville
MN
-
631,855
1,173,446
-
-
631,855
1,173,446
1,805,301
378,429
12/1/2010
Lakeville
MN
-
654,912
1,216,266
-
-
654,912
1,216,266
1,871,178
392,203
12/1/2010
Litchfield
MN
-
388,788
722,036
-
-
388,788
722,036
1,110,824
232,983
12/1/2010
Little Falls
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,269
12/1/2010
Long Lake
MN
-
808,543
1,501,579
-
-
808,543
1,501,579
2,310,122
483,978
12/1/2010
Maplewood
MN
-
931,427
1,729,793
-
-
931,427
1,729,793
2,661,220
557,145
12/1/2010
Maplewood
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,512
12/1/2010
Mendota Heights
MN
-
827,026
1,535,906
-
-
827,026
1,535,906
2,362,932
495,020
12/1/2010
Mendota Heights
MN
-
717,808
1,333,072
-
-
717,808
1,333,072
2,050,880
429,775
12/1/2010
Minneapolis
MN
-
967,640
1,797,045
-
-
967,640
1,797,045
2,764,685
579,020
12/1/2010
Minneapolis
MN
-
856,122
1,589,941
-
-
856,122
1,589,941
2,446,063
512,402
12/1/2010
Minneapolis
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Minneapolis
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Minneapolis
MN
-
938,237
1,742,440
-
-
938,237
1,742,440
2,680,677
561,455
12/1/2010
Minneapolis
MN
-
365,977
679,671
-
-
365,977
679,671
1,045,648
219,355
12/1/2010
Minneapolis
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Minneapolis
MN
-
738,535
1,371,564
-
-
738,535
1,371,564
2,110,099
441,914
12/1/2010
Minneapolis
MN
-
811,510
1,507,090
-
-
811,510
1,507,090
2,318,600
485,508
12/1/2010
Minneapolis
MN
-
539,242
1,001,450
-
-
539,242
1,001,450
1,540,692
323,104
12/1/2010
Minneapolis
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,269
12/1/2010
Minneapolis
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,512
12/1/2010
Minneapolis
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Minneapolis
MN
-
350,000
650,000
-
-
350,000
650,000
1,000,000
209,811
12/1/2010
Minneapolis
MN
-
759,822
1,411,097
-
-
759,822
1,411,097
2,170,919
454,631
12/1/2010
Minnetonka
MN
-
582,162
1,081,158
-
-
582,162
1,081,158
1,663,320
243,942
5/1/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Monticello
MN
-
589,643
1,095,051
-
-
589,643
1,095,051
1,684,694
353,212
12/1/2010
Mounds View
MN
-
743,926
1,381,578
-
-
743,926
1,381,578
2,125,504
445,378
12/1/2010
New Brighton
MN
-
585,039
1,086,502
-
-
585,039
1,086,502
1,671,541
350,219
12/1/2010
New Hope
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,269
12/1/2010
Newport
MN
-
967,228
1,796,280
-
-
967,228
1,796,280
2,763,508
578,774
12/1/2010
Oak Park Heights
MN
-
635,158
1,179,579
-
-
635,158
1,179,579
1,814,737
380,402
12/1/2010
Pine City
MN
-
644,412
1,196,765
-
-
644,412
1,196,765
1,841,177
386,173
12/1/2010
Princeton
MN
-
546,257
1,014,476
-
-
546,257
1,014,476
1,560,733
327,294
12/1/2010
Ramsey
MN
-
650,205
1,207,523
-
-
650,205
1,207,523
1,857,728
389,390
12/1/2010
Richfield
MN
-
630,540
1,171,003
-
-
630,540
1,171,003
1,801,543
377,643
12/1/2010
Richfield
MN
-
678,216
1,259,543
-
-
678,216
1,259,543
1,937,759
406,124
12/1/2010
Richfield
MN
-
436,919
811,421
-
-
436,919
811,421
1,248,340
261,735
12/1/2010
Richfield
MN
-
839,497
1,559,065
-
-
839,497
1,559,065
2,398,562
502,470
12/1/2010
Rogers
MN
-
781,303
1,450,991
-
-
781,303
1,450,991
2,232,294
467,706
12/1/2010
Roseville
MN
-
403,786
749,887
-
-
403,786
749,887
1,153,673
241,941
12/1/2010
Roseville
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Roseville
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Roseville
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Saint Cloud
MN
-
786,129
1,459,954
-
-
786,129
1,459,954
2,246,083
470,346
12/1/2010
Saint Cloud
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,997
12/1/2010
Saint Cloud
MN
-
677,052
1,257,383
-
-
677,052
1,257,383
1,934,435
405,429
12/1/2010
Saint Michael
MN
-
561,604
1,042,980
-
-
561,604
1,042,980
1,604,584
336,705
12/1/2010
Saint Paul
MN
-
808,755
1,501,973
-
-
808,755
1,501,973
2,310,728
483,863
12/1/2010
Saint Paul
MN
-
418,774
777,723
-
-
418,774
777,723
1,196,497
250,895
12/1/2010
Saint Paul
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,269
12/1/2010
Saint Paul
MN
-
832,144
1,545,409
-
-
832,144
1,545,409
2,377,553
498,077
12/1/2010
Saint Paul
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Saint Paul
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,269
12/1/2010
Saint Paul
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,020
12/1/2010
Saint Paul
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,020
12/1/2010
Saint Paul
MN
-
576,820
1,071,236
-
-
576,820
1,071,236
1,648,056
345,309
12/1/2010
Saint Paul
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,020
12/1/2010
Saint Paul
MN
-
531,091
986,311
-
-
531,091
986,311
1,517,402
318,234
12/1/2010
Saint Paul
MN
-
592,617
1,100,575
-
-
592,617
1,100,575
1,693,192
354,746
12/1/2010
Saint Paul
MN
-
739,277
1,372,944
-
-
739,277
1,372,944
2,112,221
442,358
12/1/2010
Saint Paul
MN
-
788,752
1,464,824
-
-
788,752
1,464,824
2,253,576
471,913
12/1/2010
Saint Paul
MN
-
950,678
1,765,546
-
-
950,678
1,765,546
2,716,224
568,645
12/1/2010
Saint Paul
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,269
12/1/2010
Saint Paul
MN
-
262,500
487,500
-
-
262,500
487,500
750,000
157,540
12/1/2010
Saint Paul
MN
-
541,547
1,005,731
-
-
541,547
1,005,731
1,547,278
324,238
12/1/2010
Saint Paul
MN
-
827,608
1,536,987
-
-
827,608
1,536,987
2,364,595
494,883
12/1/2010
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Saint Paul
MN
-
789,790
1,466,752
-
-
789,790
1,466,752
2,256,542
472,776
12/1/2010
Saint Paul
MN
-
648,354
1,204,086
-
-
648,354
1,204,086
1,852,440
271,431
5/1/2013
Saint Paul Park
MN
-
1,925,000
3,575,000
-
-
1,925,000
3,575,000
5,500,000
1,149,958
12/1/2010
Sauk Rapids
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,512
12/1/2010
Savage
MN
-
605,220
1,123,981
-
-
605,220
1,123,981
1,729,201
362,275
12/1/2010
Savage
MN
-
569,195
1,057,075
-
-
569,195
1,057,075
1,626,270
340,754
12/1/2010
Savage
MN
-
175,000
325,000
-
-
175,000
325,000
500,000
105,512
12/1/2010
Shakopee
MN
-
522,391
970,156
-
-
522,391
970,156
1,492,547
314,008
12/1/2010
Shakopee
MN
-
688,324
1,278,317
-
-
688,324
1,278,317
1,966,641
412,162
12/1/2010
Shakopee
MN
-
783,764
1,455,562
-
-
783,764
1,455,562
2,239,326
468,934
12/1/2010
Sherburn
MN
-
110,000
2,499,670
-
-
110,000
2,499,670
2,609,670
154,146
6/30/2017
Vadnais Heights
MN
-
931,400
1,729,742
-
-
931,400
1,729,742
2,661,142
557,371
12/1/2010
White Bear Lake
MN
-
943,945
1,753,040
-
-
943,945
1,753,040
2,696,985
564,865
12/1/2010
White Bear Lake
MN
-
860,523
1,598,113
-
-
860,523
1,598,113
2,458,636
515,030
12/1/2010
Woodbury
MN
-
962,500
1,787,500
-
-
962,500
1,787,500
2,750,000
575,707
12/1/2010
Zimmerman
MN
-
979,764
1,819,561
-
-
979,764
1,819,561
2,799,325
586,263
12/1/2010
Bolivar
MO
-
712,586
1,258,625
-
-
712,586
1,258,625
1,971,211
300,105
1/22/2013
Bolivar
MO
-
734,876
1,297,996
-
-
734,876
1,297,996
2,032,872
309,493
1/22/2013
Fair Grove
MO
-
331,197
584,987
130,304
-
331,197
715,291
1,046,488
186,309
1/22/2013
Hollister
MO
-
660,909
1,167,349
-
-
660,909
1,167,349
1,828,258
278,342
1/22/2013
Monett
MO
-
493,610
871,853
-
-
493,610
871,853
1,365,463
207,884
1/22/2013
Springfield
MO
-
471,920
833,541
-
-
471,920
833,541
1,305,461
198,749
1/22/2013
Springfield
MO
-
794,438
1,403,200
-
-
794,438
1,403,200
2,197,638
334,578
1/22/2013
Springfield
MO
-
805,817
1,423,297
-
-
805,817
1,423,297
2,229,114
339,370
1/22/2013
Springfield
MO
-
600,117
1,059,974
-
-
600,117
1,059,974
1,660,091
252,739
1/22/2013
Springfield
MO
-
735,236
1,298,631
-
-
735,236
1,298,631
2,033,867
309,644
1/22/2013
Springfield
MO
-
782,041
1,381,302
-
-
782,041
1,381,302
2,163,343
329,356
1/22/2013
Springfield
MO
-
1,955,824
3,454,530
-
-
1,955,824
3,454,530
5,410,354
823,695
1/22/2013
Springfield
MO
-
839,527
1,482,839
-
-
839,527
1,482,839
2,322,366
353,567
1/22/2013
Waynesville
MO
-
511,912
904,179
-
-
511,912
904,179
1,416,091
215,592
1/22/2013
Brandon
MS
-
671,486
1,247,588
-
-
671,486
1,247,588
1,919,074
675,777
6/30/2005
Flowood
MS
-
437,926
813,832
-
-
437,926
813,832
1,251,758
440,826
6/30/2005
Flowood
MS
-
399,972
743,347
-
-
399,972
743,347
1,143,319
402,647
6/30/2005
Jackson
MS
-
329,904
613,221
-
-
329,904
613,221
943,125
332,162
6/30/2005
Jackson
MS
-
540,108
1,003,600
-
-
540,108
1,003,600
1,543,708
543,617
6/30/2005
Marion
MS
-
350,341
651,013
-
-
350,341
651,013
1,001,354
352,633
6/30/2005
Meridian
MS
-
437,926
813,671
-
-
437,926
813,671
1,251,597
440,739
6/30/2005
Meridian
MS
-
405,811
754,030
-
-
405,811
754,030
1,159,841
408,434
6/30/2005
Meridian
MS
-
145,975
271,478
-
-
145,975
271,478
417,453
147,051
6/30/2005
Meridian
MS
-
280,273
520,887
-
-
280,273
520,887
801,160
282,148
6/30/2005
Meridian
MS
-
321,146
596,794
-
-
321,146
596,794
917,940
321,274
7/19/2005
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Newton
MS
-
467,121
867,891
-
-
467,121
867,891
1,335,012
470,108
6/30/2005
Pearl
MS
-
544,488
1,011,733
-
-
544,488
1,011,733
1,556,221
548,023
6/30/2005
Philadelphia
MS
-
472,960
878,735
-
-
472,960
878,735
1,351,695
475,982
6/30/2005
Southaven
MS
-
310,000
641,637
-
-
310,000
641,637
951,637
379,633
3/18/2004
Terry
MS
-
583,901
1,084,930
-
-
583,901
1,084,930
1,668,831
587,671
6/30/2005
Waveland
MS
-
180,000
331,637
-
-
180,000
331,637
511,637
196,216
3/18/2004
Archdale
NC
-
410,000
731,637
-
-
410,000
731,637
1,141,637
432,883
3/18/2004
Banner Elk
NC
-
386,993
720,861
-
-
386,993
720,861
1,107,854
312,307
3/27/2008
Banner Elk
NC
-
355,330
662,058
-
-
355,330
662,058
1,017,388
286,640
3/27/2008
Burgaw
NC
-
198,774
370,653
-
-
198,774
370,653
569,427
160,566
3/27/2008
Burgaw
NC
-
457,356
850,877
-
-
457,356
850,877
1,308,233
368,147
3/27/2008
Carolina Beach
NC
-
457,356
850,929
-
-
457,356
850,929
1,308,285
368,453
3/27/2008
Cary
NC
-
255,064
475,849
-
-
255,064
475,849
730,913
206,828
3/27/2008
Charlotte
NC
-
300,000
291,637
-
-
300,000
291,637
591,637
172,549
3/18/2004
Charlotte
NC
-
640,000
581,637
-
-
640,000
581,637
1,221,637
344,133
3/18/2004
Charlotte
NC
-
970,000
1,650,000
-
-
970,000
1,650,000
2,620,000
134,207
12/21/2016
Durham
NC
-
720,000
851,637
-
-
720,000
851,637
1,571,637
503,883
3/18/2004
Goldsboro
NC
-
460,000
740,625
-
-
460,000
740,625
1,200,625
531,992
1/25/2001
Hampstead
NC
-
562,900
1,046,971
-
-
562,900
1,046,971
1,609,871
452,510
3/27/2008
Holly Ridge
NC
-
721,215
1,340,986
-
-
721,215
1,340,986
2,062,201
579,710
3/27/2008
Hubert
NC
-
404,584
752,872
-
-
404,584
752,872
1,157,456
326,409
3/27/2008
Jacksonville
NC
-
180,000
371,637
-
-
180,000
371,637
551,637
219,883
3/18/2004
Jacksonville
NC
-
140,000
260,727
-
-
140,000
260,727
400,727
153,392
4/14/2004
Jacksonville
NC
-
351,812
654,867
-
-
351,812
654,867
1,006,679
283,536
3/27/2008
Kinston
NC
-
550,000
1,057,833
-
550,000
1,057,987
1,607,987
897,475
10/24/1997
Raleigh
NC
-
740,000
791,637
-
-
740,000
791,637
1,531,637
468,383
3/18/2004
Richlands
NC
-
492,537
916,235
-
-
492,537
916,235
1,408,772
396,359
3/27/2008
Richlands
NC
-
376,439
700,603
-
-
376,439
700,603
1,077,042
303,847
3/27/2008
Riegelwood
NC
-
-
453,916
-
-
-
453,916
453,916
208,517
3/27/2008
Roanoke Rapids
NC
-
834,223
1,551,226
50,351
834,223
1,602,057
2,436,280
767,695
11/1/2006
Roxboro
NC
-
243,112
368,107
-
-
243,112
368,107
611,219
232,514
3/19/2003
Shallotte
NC
-
492,537
916,266
-
-
492,537
916,266
1,408,803
396,373
3/27/2008
Southern Pines
NC
-
600,000
300,625
-
-
600,000
300,625
900,625
215,926
1/25/2001
Wallace
NC
-
-
177,408
-
-
-
177,408
177,408
105,684
3/27/2008
Wilmington
NC
-
527,718
981,645
-
-
527,718
981,645
1,509,363
425,163
3/27/2008
Wilmington
NC
-
351,812
654,930
-
-
351,812
654,930
1,006,742
283,278
3/27/2008
Wilmington
NC
-
474,946
883,640
-
-
474,946
883,640
1,358,586
382,574
3/27/2008
Wilmington
NC
-
-
353,366
-
-
-
353,366
353,366
269,578
3/27/2008
Wilmington
NC
-
364,126
677,787
-
-
364,126
677,787
1,041,913
293,430
3/27/2008
Wilmington
NC
-
439,765
818,271
-
-
439,765
818,271
1,258,036
353,788
3/27/2008
Wilmington
NC
-
-
805,696
-
-
-
805,696
805,696
348,644
3/27/2008
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Wilmington
NC
-
386,993
720,288
-
-
386,993
720,288
1,107,281
311,776
3/27/2008
Wilmington
NC
-
527,718
981,602
-
-
527,718
981,602
1,509,320
425,145
3/27/2008
Wilmington
NC
-
334,222
622,284
-
-
334,222
622,284
956,506
269,755
3/27/2008
Wilmington
NC
-
334,222
622,251
-
-
334,222
622,251
956,473
269,457
3/27/2008
Winston Salem
NC
-
320,000
311,637
-
-
320,000
311,637
631,637
184,383
3/18/2004
Zebulon
NC
-
306,077
570,587
-
-
306,077
570,587
876,664
247,723
3/27/2008
Bellevue
NE
-
929,608
1,597,236
-
-
929,608
1,597,236
2,526,844
34,607
6/14/2018
La Vista
NE
-
908,793
1,612,833
-
-
908,793
1,612,833
2,521,626
34,945
6/14/2018
Absecon
NJ
-
1,367,872
2,540,604
-
-
1,367,872
2,540,604
3,908,476
1,680,995
6/27/2002
Mays Landing
NJ
-
1,539,117
2,858,630
-
-
1,539,117
2,858,630
4,397,747
1,892,259
6/27/2002
Millville
NJ
-
953,891
1,771,782
-
-
953,891
1,771,782
2,725,673
1,172,321
6/27/2002
Toms River
NJ
-
1,265,861
2,351,154
-
-
1,265,861
2,351,154
3,617,015
1,555,997
6/27/2002
Toms River
NJ
-
982,526
1,824,961
-
-
982,526
1,824,961
2,807,487
1,207,201
6/27/2002
Wall Township
NJ
-
1,459,957
2,712,264
-
-
1,459,957
2,712,264
4,172,221
1,776,496
8/6/2002
Albuquerque
NM
-
200,000
271,637
-
-
200,000
271,637
471,637
160,716
3/18/2004
Adams Center
NY
-
2,362,078
2,191,965
-
-
2,362,078
2,191,965
4,554,043
69,412
3/28/2018
Amherst
NY
-
660,000
1,820,000
-
-
660,000
1,820,000
2,480,000
148,121
12/21/2016
Amherst
NY
-
268,540
1,523,162
-
-
268,540
1,523,162
1,791,702
48,233
3/28/2018
Canandaigua
NY
-
509,072
918,495
-
-
509,072
918,495
1,427,567
29,086
3/28/2018
Canton
NY
-
43,985
952,266
-
-
43,985
952,266
996,251
17,458
7/17/2018
Canton
NY
-
680,957
2,235,047
-
-
680,957
2,235,047
2,916,004
40,976
7/17/2018
Carmel
NY
-
3,636,376
2,074,749
-
-
3,636,376
2,074,749
5,711,125
10,374
11/2/2018
Chaumont
NY
-
1,009,703
1,684,271
-
-
1,009,703
1,684,271
2,693,974
30,878
7/17/2018
Cheektowaga
NY
-
136,598
1,776,681
-
-
136,598
1,776,681
1,913,279
38,495
6/28/2018
Elma
NY
-
512,047
1,471,068
-
-
512,047
1,471,068
1,983,115
26,970
7/17/2018
Evans Mills
NY
-
1,091,928
1,650,817
-
-
1,091,928
1,650,817
2,742,745
30,265
7/17/2018
Fairport
NY
-
1,305,548
1,325,880
-
-
1,305,548
1,325,880
2,631,428
41,986
3/28/2018
Gouverneur
NY
-
785,916
2,579,545
-
-
785,916
2,579,545
3,365,461
47,292
7/17/2018
Ithaca
NY
-
1,029,876
754,877
-
-
1,029,876
754,877
1,784,753
23,904
3/28/2018
Kingston
NY
-
257,763
456,042
-
-
257,763
456,042
713,805
432,480
4/6/1995
Niagara Falls
NY
-
1,156,407
1,020,193
-
-
1,156,407
1,020,193
2,176,600
32,306
3/28/2018
Ogdensburg
NY
-
406,027
1,829,259
-
-
406,027
1,829,259
2,235,286
33,536
7/17/2018
Potsdam
NY
-
699,718
1,317,994
-
-
699,718
1,317,994
2,017,712
41,736
3/28/2018
Rochester
NY
-
632,586
1,117,323
-
-
632,586
1,117,323
1,749,909
266,413
1/22/2013
Rochester
NY
-
467,265
758,113
-
-
467,265
758,113
1,225,378
24,007
3/28/2018
Rochester
NY
-
881,230
1,332,275
-
-
881,230
1,332,275
2,213,505
24,425
7/17/2018
Saratoga Springs
NY
-
1,320,191
1,401,196
-
-
1,320,191
1,401,196
2,721,387
25,689
7/17/2018
Tonawanda
NY
-
561,048
848,213
-
-
561,048
848,213
1,409,261
15,551
7/17/2018
Watertown
NY
-
1,819,502
2,750,790
-
-
1,819,502
2,750,790
4,570,292
50,431
7/17/2018
Watertown
NY
-
1,414,277
1,423,118
-
-
1,414,277
1,423,118
2,837,395
26,090
7/17/2018
Webster
NY
-
816,696
1,520,311
-
-
816,696
1,520,311
2,337,007
48,143
3/28/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Webster
NY
-
439,396
1,763,194
-
-
439,396
1,763,194
2,202,590
55,834
3/28/2018
West Seneca
NY
-
527,017
1,272,369
-
-
527,017
1,272,369
1,799,386
40,292
3/28/2018
West Seneca
NY
-
945,803
834,396
-
-
945,803
834,396
1,780,199
26,423
3/28/2018
Alliance
OH
-
454,440
843,960
-
-
454,440
843,960
1,298,400
289,628
6/22/2010
Atwater
OH
-
118,555
266,748
-
-
118,555
266,748
385,303
253,855
3/3/1995
Bellefontaine
OH
-
560,000
1,042,110
-
-
560,000
1,042,110
1,602,110
454,720
2/29/2008
Bellefontaine
OH
-
455,000
847,110
-
-
455,000
847,110
1,302,110
369,330
2/29/2008
Columbus
OH
-
147,296
304,411
-
-
147,296
304,411
451,707
289,698
3/3/1995
Columbus
OH
-
273,085
471,693
13,088
-
273,085
484,780
757,865
443,632
12/21/1995
Cuyahoga Falls
OH
-
321,792
1,144,619
-
-
321,792
1,144,619
1,466,411
715,598
3/3/1995
De Graff
OH
-
302,750
564,360
-
-
302,750
564,360
867,110
246,899
2/29/2008
Eaton
OH
-
164,588
306,934
-
-
164,588
306,934
471,522
142,721
5/25/2007
Galion
OH
-
138,981
327,597
-
-
138,981
327,597
466,578
311,763
3/6/1995
Jackson Center
OH
-
367,500
684,610
-
-
367,500
684,610
1,052,110
299,207
2/29/2008
Kenton
OH
-
140,000
262,462
-
-
140,000
262,462
402,462
109,496
8/29/2008
Marysville
OH
-
507,500
944,610
-
-
507,500
944,610
1,452,110
411,742
2/29/2008
Marysville
OH
-
700,000
1,302,110
-
-
700,000
1,302,110
2,002,110
567,255
2/29/2008
Marysville
OH
-
350,000
652,110
-
-
350,000
652,110
1,002,110
284,505
2/29/2008
Perrysburg
OH
-
211,678
390,680
-
211,678
390,814
602,492
344,978
9/1/1995
Russells Point
OH
-
546,000
1,016,110
-
-
546,000
1,016,110
1,562,110
443,410
2/29/2008
Streetsboro
OH
-
402,988
533,349
-
402,988
533,462
936,450
442,793
9/3/1996
Tiffin
OH
-
117,017
273,040
-
-
117,017
273,040
390,057
259,843
3/7/1995
Troy
OH
-
355,009
588,111
-
355,009
588,195
943,204
493,110
6/27/1996
Wadsworth
OH
-
266,507
496,917
-
266,507
497,033
763,540
423,489
7/1/1996
Edmond
OK
-
365,152
716,425
-
-
365,152
716,425
1,081,577
159,137
6/27/2013
Edmond
OK
-
352,862
694,398
-
-
352,862
694,398
1,047,260
154,583
6/27/2013
Edmond
OK
-
519,976
1,019,075
-
-
519,976
1,019,075
1,539,051
226,389
6/27/2013
Edmond
OK
-
962,803
1,887,389
-
-
962,803
1,887,389
2,850,192
418,700
6/27/2013
Midwest City
OK
-
405,372
795,228
-
-
405,372
795,228
1,200,600
176,605
6/27/2013
Midwest City
OK
-
445,188
873,239
-
-
445,188
873,239
1,318,427
193,897
6/27/2013
Moore
OK
-
306,341
602,193
-
-
306,341
602,193
908,534
134,144
6/27/2013
Moore
OK
-
294,864
579,209
-
-
294,864
579,209
874,073
128,885
6/27/2013
Norman
OK
-
248,874
489,810
-
-
248,874
489,810
738,684
109,233
6/27/2013
Norman
OK
-
390,000
523,739
-
-
390,000
523,739
913,739
116,754
6/27/2013
Norman
OK
-
470,199
922,644
-
-
470,199
922,644
1,392,843
205,178
6/27/2013
Norman
OK
-
697,964
1,368,992
-
-
697,964
1,368,992
2,066,956
303,954
6/27/2013
Norman
OK
-
163,252
321,345
-
-
163,252
321,345
484,597
71,725
6/27/2013
Oklahoma City
OK
-
453,873
890,815
-
-
453,873
890,815
1,344,688
198,122
6/27/2013
Oklahoma City
OK
-
520,386
1,021,067
-
-
520,386
1,021,067
1,541,453
226,830
6/27/2013
Oklahoma City
OK
-
410,750
806,262
-
-
410,750
806,262
1,217,012
179,215
6/27/2013
Oklahoma City
OK
-
421,459
827,243
-
-
421,459
827,243
1,248,702
183,866
6/27/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Oklahoma City
OK
-
166,843
329,194
-
-
166,843
329,194
496,037
73,629
6/27/2013
Oklahoma City
OK
-
426,956
838,510
-
-
426,956
838,510
1,265,466
186,528
6/27/2013
Oklahoma City
OK
-
456,873
897,930
-
-
456,873
897,930
1,354,803
199,699
6/27/2013
Oklahoma City
OK
-
220,000
513,453
-
-
220,000
513,453
733,453
114,638
6/27/2013
Oklahoma City
OK
-
344,347
676,656
-
-
344,347
676,656
1,021,003
150,650
6/27/2013
Oklahoma City
OK
-
178,588
352,229
-
-
178,588
352,229
530,817
78,736
6/27/2013
Oklahoma City
OK
-
200,554
394,926
-
-
200,554
394,926
595,480
88,200
6/27/2013
Oklahoma City
OK
-
479,805
941,620
-
-
479,805
941,620
1,421,425
209,055
6/27/2013
Oklahoma City
OK
-
388,491
762,152
-
-
388,491
762,152
1,150,643
169,273
6/27/2013
Oklahoma City
OK
-
514,604
1,010,798
-
-
514,604
1,010,798
1,525,402
224,389
6/27/2013
Oklahoma City
OK
-
612,698
1,202,429
-
-
612,698
1,202,429
1,815,127
267,197
6/27/2013
Oklahoma City
OK
-
221,963
436,376
-
-
221,963
436,376
658,339
97,224
6/27/2013
Oklahoma City
OK
-
306,360
600,729
-
-
306,360
600,729
907,089
133,491
6/27/2013
Oklahoma City
OK
-
180,000
618,260
-
-
180,000
618,260
798,260
137,706
6/27/2013
Oklahoma City
OK
-
440,000
829,361
-
-
440,000
829,361
1,269,361
184,500
6/27/2013
Oklahoma City
OK
-
411,910
808,611
-
-
411,910
808,611
1,220,521
179,571
6/27/2013
Oklahoma City
OK
-
471,600
924,640
-
-
471,600
924,640
1,396,240
205,456
6/27/2013
Oklahoma City
OK
-
481,598
946,011
-
-
481,598
946,011
1,427,609
210,028
6/27/2013
Oklahoma City
OK
-
275,094
540,304
-
-
275,094
540,304
815,398
120,261
6/27/2013
Oklahoma City
OK
-
404,894
794,787
-
-
404,894
794,787
1,199,681
176,672
6/27/2013
Tulsa
OK
-
126,545
508,266
-
-
126,545
508,266
634,811
437,914
6/27/1997
Yukon
OK
-
618,155
1,213,121
-
-
618,155
1,213,121
1,831,276
269,567
6/27/2013
Yukon
OK
-
390,000
698,226
-
-
390,000
698,226
1,088,226
155,267
6/27/2013
Yukon
OK
-
713,299
1,399,650
-
-
713,299
1,399,650
2,112,949
310,585
6/27/2013
Yukon
OK
-
813,732
1,595,318
-
-
813,732
1,595,318
2,409,050
353,958
6/27/2013
Gresham
OR
-
1,026,964
1,283,964
-
-
1,026,964
1,283,964
2,310,928
104,540
12/21/2016
Aliquippa
PA
-
226,195
452,631
-
-
226,195
452,631
678,826
270,822
1/29/2004
Aliquippa
PA
-
757,155
1,092,170
-
-
757,155
1,092,170
1,849,325
34,585
3/28/2018
Aliquippa
PA
-
781,433
809,944
-
-
781,433
809,944
1,591,377
14,849
7/17/2018
Allentown
PA
-
3,922,420
5,971,779
-
-
3,922,420
5,971,779
9,894,199
1,423,828
1/22/2013
Allentown
PA
-
1,063,467
1,128,720
-
-
1,063,467
1,128,720
2,192,187
20,693
7/17/2018
Ambridge
PA
-
807,350
1,220,581
-
-
807,350
1,220,581
2,027,931
22,377
7/17/2018
Arnold
PA
-
905,970
1,369,678
-
-
905,970
1,369,678
2,275,648
25,111
7/17/2018
Bath
PA
-
1,266,254
936,591
-
-
1,266,254
936,591
2,202,845
17,171
7/17/2018
Beaver
PA
-
95,626
223,368
-
-
95,626
223,368
318,994
133,647
1/29/2004
Beaver
PA
-
471,906
713,445
-
-
471,906
713,445
1,185,351
13,080
7/17/2018
Beaver Falls
PA
-
92,207
230,758
-
-
92,207
230,758
322,965
138,068
1/29/2004
Bechtelsville
PA
-
948,729
1,434,323
-
-
948,729
1,434,323
2,383,052
26,296
7/17/2018
Bensalem
PA
-
569,763
387,611
-
-
569,763
387,611
957,374
238,375
5/29/2003
N/A
Breinigsville
PA
-
1,052,880
1,591,782
-
-
1,052,880
1,591,782
2,644,662
29,183
7/17/2018
Bridgeville
PA
-
992,173
1,500,003
-
-
992,173
1,500,003
2,492,176
27,500
7/17/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Bryn Mawr
PA
-
1,093,979
1,653,916
-
-
1,093,979
1,653,916
2,747,895
30,322
7/17/2018
Butler
PA
-
539,278
815,300
-
-
539,278
815,300
1,354,578
14,947
7/17/2018
Butler
PA
-
1,033,307
1,562,191
-
-
1,033,307
1,562,191
2,595,498
28,640
7/17/2018
Camp Hill
PA
-
849,226
1,283,891
-
-
849,226
1,283,891
2,133,117
23,538
7/17/2018
Castle Shannon
PA
-
765,759
836,367
-
-
765,759
836,367
1,602,126
15,333
7/17/2018
Chester Springs
PA
-
1,059,079
1,628,368
-
-
1,059,079
1,628,368
2,687,447
51,565
3/28/2018
Danville
PA
-
462,741
1,518,815
-
-
462,741
1,518,815
1,981,556
27,845
7/17/2018
Downingtown
PA
-
1,722,222
-
-
1,722,222
1,722,798
2/25/2003
Downingtown
PA
-
2,806,613
1,865,384
-
-
2,806,613
1,865,384
4,671,997
34,199
7/17/2018
East Pittsburgh
PA
-
785,475
802,232
-
-
785,475
802,232
1,587,707
25,404
3/28/2018
Greensburg
PA
-
891,873
1,310,204
-
-
891,873
1,310,204
2,202,077
41,490
3/28/2018
Greensburg
PA
-
1,164,032
923,128
-
-
1,164,032
923,128
2,087,160
16,924
7/17/2018
Harrisburg
PA
-
1,712,406
1,510,700
-
-
1,712,406
1,510,700
3,223,106
47,839
3/28/2018
Herndon
PA
-
2,112,857
1,124,873
-
-
2,112,857
1,124,873
3,237,730
20,623
7/17/2018
Irwin
PA
-
676,401
1,022,607
-
-
676,401
1,022,607
1,699,008
18,748
7/17/2018
Johnstown
PA
-
613,830
928,011
-
-
613,830
928,011
1,541,841
17,014
7/17/2018
Latrobe
PA
-
401,440
606,911
-
-
401,440
606,911
1,008,351
11,127
7/17/2018
Lewisburg
PA
-
1,122,905
1,129,924
-
-
1,122,905
1,129,924
2,252,829
20,715
7/17/2018
Lock Haven
PA
-
498,668
992,999
-
-
498,668
992,999
1,491,667
18,205
7/17/2018
Middleburg
PA
-
396,279
1,300,673
-
-
396,279
1,300,673
1,696,952
23,846
7/17/2018
Millvale
PA
-
1,153,220
732,509
-
-
1,153,220
732,509
1,885,729
13,429
7/17/2018
Milton
PA
-
724,807
1,095,789
-
-
724,807
1,095,789
1,820,596
20,089
7/17/2018
Milton
PA
-
781,359
1,181,286
-
-
781,359
1,181,286
1,962,645
21,657
7/17/2018
Montandon
PA
-
900,186
1,360,934
-
-
900,186
1,360,934
2,261,120
24,950
7/17/2018
Mount Pleasant Mills
PA
-
500,618
1,643,137
-
-
500,618
1,643,137
2,143,755
30,124
7/17/2018
Mount Washington
PA
-
118,118
231,108
-
-
118,118
231,108
349,226
138,278
1/29/2004
Muncy
PA
-
1,336,670
2,110,696
-
-
1,336,670
2,110,696
3,447,366
66,839
3/28/2018
New London
PA
-
1,585,722
1,398,938
-
-
1,585,722
1,398,938
2,984,660
44,300
3/28/2018
Northumberland
PA
-
788,076
981,812
-
-
788,076
981,812
1,769,888
18,000
7/17/2018
Penndel
PA
-
739,487
1,003,809
-
-
739,487
1,003,809
1,743,296
617,337
5/29/2003
N/A
Perryopolis
PA
-
148,953
134,299
-
-
148,953
134,299
283,252
80,353
1/29/2004
Philadelphia
PA
-
808,681
256,843
-
-
808,681
256,843
1,065,524
160,521
5/29/2003
Philadelphia
PA
-
425,928
167,147
-
-
425,928
167,147
593,075
104,461
5/29/2003
Philadelphia
PA
-
541,792
236,049
-
-
541,792
236,049
777,841
147,525
5/29/2003
Philadelphia
PA
-
614,101
277,277
-
-
614,101
277,277
891,378
173,292
5/29/2003
Philadelphia
PA
-
1,011,389
491,302
-
-
1,011,389
491,302
1,502,691
302,145
5/29/2003
N/A
Philadelphia
PA
-
689,172
426,596
-
-
689,172
426,596
1,115,768
262,351
5/29/2003
N/A
Philadelphia
PA
-
349,294
134,485
-
-
349,294
134,485
483,779
84,047
5/29/2003
Philadelphia
PA
-
2,016,244
1,896,105
-
-
2,016,244
1,896,105
3,912,349
60,043
3/28/2018
Phoenixville
PA
-
1,373,934
1,212,097
-
-
1,373,934
1,212,097
2,586,031
38,383
3/28/2018
Pittsburgh
PA
-
497,668
320,170
-
-
497,668
320,170
817,838
191,567
1/29/2004
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Pittsburgh
PA
-
296,277
287,540
-
-
296,277
287,540
583,817
172,043
1/29/2004
Pittsburgh
PA
-
395,417
474,741
-
-
395,417
474,741
870,158
284,051
1/29/2004
Pittsburgh
PA
-
779,859
765,778
-
-
779,859
765,778
1,545,637
14,039
7/17/2018
Pittsburgh
PA
-
1,916,418
1,263,572
-
-
1,916,418
1,263,572
3,179,990
23,165
7/17/2018
Pottsville
PA
-
1,154,247
1,745,033
-
-
1,154,247
1,745,033
2,899,280
31,992
7/17/2018
Reading
PA
-
1,018,262
1,539,445
-
-
1,018,262
1,539,445
2,557,707
28,223
7/17/2018
Reading
PA
-
1,165,538
952,038
-
-
1,165,538
952,038
2,117,576
17,454
7/17/2018
Richboro
PA
-
1,359,060
1,645,736
-
-
1,359,060
1,645,736
3,004,796
52,115
3/28/2018
Selinsgrove
PA
-
852,806
627,125
-
-
852,806
627,125
1,479,931
11,497
7/17/2018
South Park
PA
-
252,247
436,182
-
-
252,247
436,182
688,429
260,941
1/29/2004
Stroudsburg
PA
-
629,294
796,057
-
-
629,294
796,057
1,425,351
17,248
6/28/2018
Sunbury
PA
-
1,160,900
1,168,156
-
-
1,160,900
1,168,156
2,329,056
21,416
7/17/2018
Valencia
PA
-
440,565
278,492
-
-
440,565
278,492
719,057
166,629
1/29/2004
Verona
PA
-
1,254,411
-
-
1,254,411
1,254,754
1/29/2004
Wayne
PA
-
2,115,442
1,064,164
-
-
2,115,442
1,064,164
3,179,606
33,699
3/30/2018
West Grove
PA
-
698,658
1,074,209
-
-
698,658
1,074,209
1,772,867
34,017
3/28/2018
Williamsport
PA
-
1,005,488
1,520,134
-
-
1,005,488
1,520,134
2,525,622
27,869
7/17/2018
Willow Grove
PA
-
329,934
73,123
-
-
329,934
73,123
403,057
45,696
5/29/2003
Wyomissing
PA
-
946,078
1,430,315
-
-
946,078
1,430,315
2,376,393
26,222
7/17/2018
Wyomissing
PA
-
1,127,799
828,826
-
-
1,127,799
828,826
1,956,625
15,195
7/17/2018
Aiken
SC
-
400,000
402,665
-
-
400,000
402,665
802,665
313,404
7/22/1999
Aiken
SC
-
320,000
432,527
-
-
320,000
432,527
752,527
336,647
7/22/1999
Aiken
SC
-
330,000
472,679
-
-
330,000
472,679
802,679
367,898
7/22/1999
Aiken
SC
-
560,000
543,588
-
-
560,000
543,588
1,103,588
423,088
7/22/1999
Aiken
SC
-
360,000
542,982
-
-
360,000
542,982
902,982
422,617
7/22/1999
Aiken
SC
-
540,000
388,058
-
-
540,000
388,058
928,058
302,034
7/22/1999
Aiken
SC
-
250,000
251,770
-
-
250,000
251,770
501,770
195,959
7/22/1999
Beech Island
SC
-
330,000
481,637
-
-
330,000
481,637
811,637
284,966
3/18/2004
Belvedere
SC
-
490,000
463,080
-
-
490,000
463,080
953,080
360,427
7/22/1999
Bishopville
SC
-
191,738
357,630
-
-
191,738
357,630
549,368
155,228
3/27/2008
Bonneau
SC
-
128,411
240,691
-
-
128,411
240,691
369,102
104,750
3/27/2008
Camden
SC
-
269,136
501,397
-
-
269,136
501,397
770,533
217,288
3/27/2008
Charleston
SC
-
862,869
868,263
-
-
862,869
868,263
1,731,132
15,918
7/17/2018
Charleston
SC
-
1,042,881
1,576,665
-
-
1,042,881
1,576,665
2,619,546
28,906
7/17/2018
Columbia
SC
-
520,000
471,637
-
-
520,000
471,637
991,637
279,049
3/18/2004
Conway
SC
-
-
252,890
-
-
-
252,890
252,890
169,956
3/27/2008
Cordova
SC
-
137,207
257,025
-
-
137,207
257,025
394,232
112,085
3/27/2008
Dillon
SC
-
1,314,212
1,715,895
-
-
1,314,212
1,715,895
3,030,107
8,579
11/2/2018
Florence
SC
-
193,497
360,913
-
-
193,497
360,913
554,410
156,646
3/27/2008
Florence
SC
-
337,740
628,793
-
-
337,740
628,793
966,533
272,280
3/27/2008
Georgetown
SC
-
1,319,133
1,456,542
-
-
1,319,133
1,456,542
2,775,675
46,124
3/28/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Goose Creek
SC
-
150,000
241,637
-
-
150,000
241,637
391,637
142,966
3/18/2004
Goose Creek
SC
-
1,371,595
1,212,528
-
-
1,371,595
1,212,528
2,584,123
38,397
3/28/2018
Goose Creek
SC
-
1,069,078
943,150
-
-
1,069,078
943,150
2,012,228
29,866
3/28/2018
Goose Creek
SC
-
1,344,022
1,352,423
-
-
1,344,022
1,352,423
2,696,445
24,794
7/17/2018
Goose Creek
SC
-
794,691
1,417,200
-
-
794,691
1,417,200
2,211,891
25,982
7/17/2018
Greenville
SC
-
390,000
462,847
-
-
390,000
462,847
852,847
360,245
7/22/1999
Greenville
SC
-
300,000
402,392
-
-
300,000
402,392
702,392
313,192
7/22/1999
Greenville
SC
-
370,000
432,695
-
-
370,000
432,695
802,695
336,778
7/22/1999
Greenville
SC
-
620,000
483,604
-
-
620,000
483,604
1,103,604
376,400
7/22/1999
Greenville
SC
-
680,000
423,604
-
-
680,000
423,604
1,103,604
329,700
7/22/1999
Greer
SC
-
400,000
502,879
-
-
400,000
502,879
902,879
391,403
7/22/1999
Hemingway
SC
-
246,269
459,569
-
-
246,269
459,569
705,838
199,232
3/27/2008
Hilton Head
SC
-
500,000
691,637
-
-
500,000
691,637
1,191,637
409,216
3/18/2004
Hilton Head
SC
-
185,500
344,510
-
-
185,500
344,510
530,010
202,687
4/14/2004
Irmo
SC
-
690,000
461,637
-
-
690,000
461,637
1,151,637
273,133
3/18/2004
Jackson
SC
-
170,000
632,626
-
-
170,000
632,626
802,626
492,390
7/22/1999
Kingstree
SC
-
-
303,766
-
-
-
303,766
303,766
190,739
3/27/2008
Kingstree
SC
-
209,328
390,965
-
-
209,328
390,965
600,293
169,334
3/27/2008
Ladson
SC
-
1,505,726
2,315,102
-
-
1,505,726
2,315,102
3,820,828
73,312
3/28/2018
Ladson
SC
-
2,343,039
1,587,528
-
-
2,343,039
1,587,528
3,930,567
29,105
7/17/2018
Lake City
SC
-
202,292
377,898
-
-
202,292
377,898
580,190
163,977
3/27/2008
Lexington
SC
-
640,000
563,891
-
-
640,000
563,891
1,203,891
438,890
7/22/1999
Lexington
SC
-
540,000
563,588
-
-
540,000
563,588
1,103,588
438,654
7/22/1999
Lexington
SC
-
360,000
843,891
-
-
360,000
843,891
1,203,891
656,823
7/22/1999
Lugoff
SC
-
200,533
373,990
-
-
200,533
373,990
574,523
162,291
3/27/2008
Moncks Corner
SC
-
351,812
655,578
-
-
351,812
655,578
1,007,390
283,559
3/27/2008
Moncks Corner
SC
-
882,597
2,041,486
-
-
882,597
2,041,486
2,924,083
64,647
3/28/2018
Moncks Corner
SC
-
839,386
928,571
-
-
839,386
928,571
1,767,957
17,024
7/17/2018
Mount Pleasant
SC
-
668,443
1,242,940
-
-
668,443
1,242,940
1,911,383
537,103
3/27/2008
Mount Pleasant
SC
-
1,433,246
1,442,205
-
-
1,433,246
1,442,205
2,875,451
26,440
7/17/2018
Mount Pleasant
SC
-
1,445,576
1,534,274
-
-
1,445,576
1,534,274
2,979,850
28,128
7/17/2018
Myrtle Beach
SC
-
492,537
916,307
-
-
492,537
916,307
1,408,844
396,959
3/27/2008
Myrtle Beach
SC
-
703,624
1,308,326
-
-
703,624
1,308,326
2,011,950
565,328
3/27/2008
Myrtle Beach
SC
-
-
177,502
-
-
-
177,502
177,502
77,473
3/27/2008
Myrtle Beach
SC
-
-
755,479
-
-
-
755,479
755,479
326,966
3/27/2008
Myrtle Beach
SC
-
-
328,278
-
-
-
328,278
328,278
257,778
3/27/2008
Myrtle Beach
SC
-
-
278,019
-
-
-
278,019
278,019
190,748
3/27/2008
North Augusta
SC
-
400,000
452,777
-
-
400,000
452,777
852,777
352,408
7/22/1999
North Augusta
SC
-
490,000
1,221,637
-
-
490,000
1,221,637
1,711,637
722,799
3/18/2004
North Charleston
SC
-
935,330
992,721
-
-
935,330
992,721
1,928,051
18,200
7/17/2018
North Charleston
SC
-
787,641
835,969
-
-
787,641
835,969
1,623,610
15,326
7/17/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
North Charleston
SC
-
1,144,392
869,090
-
-
1,144,392
869,090
2,013,482
15,933
7/17/2018
Orangeburg
SC
-
320,000
691,637
-
-
320,000
691,637
1,011,637
409,216
3/18/2004
Pinewood
SC
-
325,426
606,576
-
-
325,426
606,576
932,002
262,690
3/27/2008
Simpsonville
SC
-
530,000
573,485
-
-
530,000
573,485
1,103,485
446,357
7/22/1999
Spartanburg
SC
-
470,000
432,879
-
-
470,000
432,879
902,879
336,920
7/22/1999
Summerville
SC
-
297,500
553,227
-
-
297,500
553,227
850,727
325,479
4/14/2004
Summerville
SC
-
1,310,923
1,108,943
-
-
1,310,923
1,108,943
2,419,866
35,117
3/28/2018
Sumter
SC
-
263,859
491,628
-
-
263,859
491,628
755,487
213,071
3/27/2008
Sumter
SC
-
362,367
674,512
-
-
362,367
674,512
1,036,879
292,016
3/27/2008
Sumter
SC
-
181,183
338,087
-
-
181,183
338,087
519,270
146,792
3/27/2008
Sumter
SC
-
154,797
289,084
-
-
154,797
289,084
443,881
125,639
3/27/2008
Sumter
SC
-
351,812
654,969
-
-
351,812
654,969
1,006,781
283,580
3/27/2008
Sumter
SC
-
334,222
622,301
-
-
334,222
622,301
956,523
269,478
3/27/2008
Sumter
SC
-
281,450
524,296
-
-
281,450
524,296
805,746
227,173
3/27/2008
Sumter
SC
-
146,002
272,750
-
-
146,002
272,750
418,752
118,589
3/27/2008
Sumter
SC
-
372,921
694,113
-
-
372,921
694,113
1,067,034
300,193
3/27/2008
Sumter
SC
-
149,520
279,226
-
-
149,520
279,226
428,746
121,384
3/27/2008
Sumter
SC
-
262,100
488,361
-
-
262,100
488,361
750,461
211,660
3/27/2008
Sumter
SC
-
184,701
344,620
-
-
184,701
344,620
529,321
148,760
3/27/2008
West Columbia
SC
-
410,000
693,574
-
-
410,000
693,574
1,103,574
539,827
7/22/1999
West Columbia
SC
-
336,000
624,727
-
-
336,000
624,727
960,727
367,545
4/14/2004
Elk Point
SD
-
390,000
2,410,066
-
-
390,000
2,410,066
2,800,066
148,621
6/30/2017
Arrington
TN
-
385,000
716,242
-
-
385,000
716,242
1,101,242
435,708
10/16/2003
Athens
TN
-
175,000
326,242
-
-
175,000
326,242
501,242
198,458
10/16/2003
Athens
TN
-
124,179
231,860
-
-
124,179
231,860
356,039
141,042
10/16/2003
Benton
TN
-
192,500
358,742
-
-
192,500
358,742
551,242
218,228
10/16/2003
Chattanooga
TN
-
181,731
338,741
-
-
181,731
338,741
520,472
206,062
10/16/2003
Chattanooga
TN
-
162,879
258,792
-
-
162,879
258,792
421,671
157,426
10/16/2003
Chattanooga
TN
-
159,979
298,346
-
-
159,979
298,346
458,325
181,488
10/16/2003
Chattanooga
TN
-
105,000
196,242
-
-
105,000
196,242
301,242
119,374
10/16/2003
Chattanooga
TN
-
245,000
456,242
-
-
245,000
456,242
701,242
277,541
10/16/2003
Chattanooga
TN
-
297,500
553,742
-
-
297,500
553,742
851,242
336,853
10/16/2003
Chattanooga
TN
-
323,750
822,529
-
-
323,750
822,529
1,146,279
480,452
10/16/2003
Chattanooga
TN
-
280,000
521,242
-
-
280,000
521,242
801,242
317,083
10/16/2003
Chattanooga
TN
-
257,250
478,992
-
-
257,250
478,992
736,242
291,381
10/16/2003
Chattanooga
TN
-
283,209
527,201
-
-
283,209
527,201
810,410
320,708
10/16/2003
Chattanooga
TN
-
542,500
1,008,742
-
-
542,500
1,008,742
1,551,242
613,645
10/16/2003
Chattanooga
TN
-
332,500
618,742
-
-
332,500
618,742
951,242
376,395
10/16/2003
Chattanooga
TN
-
260,693
559,077
-
-
260,693
559,077
819,770
340,099
10/16/2003
Chattanooga
TN
-
150,336
326,242
-
-
150,336
326,242
476,578
198,458
10/16/2003
Cleveland
TN
-
110,009
205,545
-
-
110,009
205,545
315,554
125,033
10/16/2003
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Cleveland
TN
-
227,500
423,742
-
-
227,500
423,742
651,242
257,770
10/16/2003
Cleveland
TN
-
280,000
521,242
-
-
280,000
521,242
801,242
317,083
10/16/2003
Cleveland
TN
-
245,000
456,242
-
-
245,000
456,242
701,242
277,541
10/16/2003
Cleveland
TN
-
157,500
293,742
-
-
157,500
293,742
451,242
178,687
10/16/2003
Cleveland
TN
-
122,500
228,742
-
-
122,500
228,742
351,242
139,145
10/16/2003
Cleveland
TN
-
300,373
559,077
-
-
300,373
559,077
859,450
340,099
10/16/2003
Dayton
TN
-
262,500
488,742
-
-
262,500
488,742
751,242
297,312
10/16/2003
Decatur
TN
-
181,731
338,742
-
-
181,731
338,742
520,473
206,062
10/16/2003
Dunlap
TN
-
315,000
586,242
-
-
315,000
586,242
901,242
356,624
10/16/2003
Etowah
TN
-
192,500
358,742
-
-
192,500
358,742
551,242
218,228
10/16/2003
Gallatin
TN
-
525,000
976,242
-
-
525,000
976,242
1,501,242
593,874
10/16/2003
Gray
TN
-
191,151
355,563
-
-
191,151
355,563
546,714
158,224
11/29/2007
Harrison
TN
-
484,313
900,680
-
-
484,313
900,680
1,384,993
547,908
10/16/2003
Hixson
TN
-
350,000
651,242
-
-
350,000
651,242
1,001,242
396,166
10/16/2003
Hixson
TN
-
271,250
504,992
-
-
271,250
504,992
776,242
307,197
10/16/2003
Hixson
TN
-
513,215
954,355
-
-
513,215
954,355
1,467,570
580,560
10/16/2003
Hixson
TN
-
94,500
176,742
-
-
94,500
176,742
271,242
107,512
10/16/2003
Hixson
TN
-
300,373
559,077
-
-
300,373
559,077
859,450
340,099
10/16/2003
Kimball
TN
-
332,500
618,742
-
-
332,500
618,742
951,242
376,395
10/16/2003
Kingsport
TN
-
155,603
289,545
-
-
155,603
289,545
445,148
128,846
11/29/2007
Kingsport
TN
-
310,303
576,845
-
-
310,303
576,845
887,148
256,694
11/29/2007
La Vergne
TN
-
561,755
1,073,742
-
-
561,755
1,073,742
1,635,497
653,187
10/16/2003
Manchester
TN
-
266,119
495,463
-
-
266,119
495,463
761,582
301,400
10/16/2003
Manchester
TN
-
281,675
524,352
-
-
281,675
524,352
806,027
318,975
10/16/2003
Manchester
TN
-
319,846
595,242
-
-
319,846
595,242
915,088
362,100
10/16/2003
Monteagle
TN
-
271,173
504,849
-
-
271,173
504,849
776,022
307,110
10/16/2003
Mount Juliet
TN
-
397,128
738,764
-
-
397,128
738,764
1,135,892
449,409
10/16/2003
Murfreesboro
TN
-
549,500
1,021,742
-
-
549,500
1,021,742
1,571,242
621,553
10/16/2003
Murfreesboro
TN
-
467,810
870,032
-
-
467,810
870,032
1,337,842
529,263
10/16/2003
Murfreesboro
TN
-
300,373
559,077
-
-
300,373
559,077
859,450
340,099
10/16/2003
Nashville
TN
-
498,628
927,264
-
-
498,628
927,264
1,425,892
564,080
10/16/2003
Ocoee
TN
-
108,553
223,713
-
-
108,553
223,713
332,266
136,086
10/16/2003
Ooltewah
TN
-
234,231
436,241
-
-
234,231
436,241
670,472
265,374
10/16/2003
Ooltewah
TN
-
635,909
1,174,710
-
-
635,909
1,174,710
1,810,619
717,552
10/16/2003
Ooltewah
TN
-
105,000
196,242
-
-
105,000
196,242
301,242
119,374
10/16/2003
Roan Mountain
TN
-
286,303
532,274
-
-
286,303
532,274
818,577
236,860
11/29/2007
Shelbyville
TN
-
320,229
595,953
-
-
320,229
595,953
916,182
362,532
10/16/2003
Smyrna
TN
-
426,466
793,251
-
-
426,466
793,251
1,219,717
482,555
10/16/2003
Smyrna
TN
-
630,000
1,170,036
-
-
630,000
1,170,036
1,800,036
575,267
9/27/2006
Soddy Daisy
TN
-
297,500
553,732
-
-
297,500
553,732
851,232
336,848
10/16/2003
Soddy Daisy
TN
-
350,000
651,242
-
-
350,000
651,242
1,001,242
396,166
10/16/2003
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Soddy Daisy
TN
-
245,000
456,242
-
-
245,000
456,242
701,242
277,541
10/16/2003
Sweetwater
TN
-
122,500
228,742
-
-
122,500
228,742
351,242
139,145
10/16/2003
Sweetwater
TN
-
339,231
1,131,287
-
-
339,231
1,131,287
1,470,518
610,744
10/16/2003
Sweetwater
TN
-
133,000
248,242
-
-
133,000
248,242
381,242
151,008
10/16/2003
Alamo
TX
-
2,181,318
1,910,571
-
-
2,181,318
1,910,571
4,091,889
60,501
3/28/2018
Alton
TX
-
733,241
1,108,540
-
-
733,241
1,108,540
1,841,781
20,323
7/17/2018
Aransas Pass
TX
-
493,919
857,733
-
-
493,919
857,733
1,351,652
18,584
6/28/2018
Austin
TX
-
1,430,000
1,184,952
-
-
1,430,000
1,184,952
2,614,952
96,479
12/21/2016
Austin
TX
-
1,190,000
1,254,093
-
-
1,190,000
1,254,093
2,444,093
102,125
12/21/2016
Baytown
TX
-
1,809,431
1,596,297
-
-
1,809,431
1,596,297
3,405,728
50,549
3/28/2018
Baytown
TX
-
1,560,795
2,022,439
-
-
1,560,795
2,022,439
3,583,234
64,044
3/28/2018
Baytown
TX
-
889,449
1,977,129
-
-
889,449
1,977,129
2,866,578
42,838
6/28/2018
Baytown
TX
-
1,170,266
1,769,250
-
-
1,170,266
1,769,250
2,939,516
32,436
7/17/2018
Beeville
TX
-
250,918
1,015,672
-
-
250,918
1,015,672
1,266,590
32,163
3/28/2018
Beeville
TX
-
249,196
914,755
-
-
249,196
914,755
1,163,951
19,820
6/28/2018
Bishop
TX
-
1,138,213
1,855,054
-
-
1,138,213
1,855,054
2,993,267
58,743
3/28/2018
Boerne
TX
-
1,675,505
918,790
-
-
1,675,505
918,790
2,594,295
19,907
6/28/2018
Brackettville
TX
-
545,251
1,701,182
-
-
545,251
1,701,182
2,246,433
53,871
3/28/2018
Brownsville
TX
-
2,180,791
1,665,300
-
-
2,180,791
1,665,300
3,846,091
52,735
3/28/2018
Brownsville
TX
-
1,215,955
2,562,372
-
-
1,215,955
2,562,372
3,778,327
81,142
3/28/2018
Brownsville
TX
-
277,413
616,652
-
-
277,413
616,652
894,065
13,361
6/28/2018
Brownsville
TX
-
200,678
574,943
-
-
200,678
574,943
775,621
12,457
6/28/2018
Brownsville
TX
-
1,859,492
2,811,247
-
-
1,859,492
2,811,247
4,670,739
51,540
7/17/2018
Brownsville
TX
-
558,940
845,026
-
-
558,940
845,026
1,403,966
15,492
7/17/2018
Buda
TX
-
1,093,391
1,681,125
-
-
1,093,391
1,681,125
2,774,516
53,236
3/28/2018
Buda
TX
-
2,184,293
3,302,293
-
-
2,184,293
3,302,293
5,486,586
60,542
7/17/2018
Carrollton
TX
-
910,000
1,464,019
-
-
910,000
1,464,019
2,374,019
119,121
12/21/2016
College Station
TX
1,405,752
2,478,735
-
-
1,405,752
2,478,735
3,884,487
78,493
3/28/2018
Corpus Christi
TX
-
1,718,205
1,904,444
-
-
1,718,205
1,904,444
3,622,649
60,307
3/28/2018
Corpus Christi
TX
-
1,521,607
1,342,375
-
-
1,521,607
1,342,375
2,863,982
42,509
3/28/2018
Corpus Christi
TX
-
1,187,611
957,255
-
-
1,187,611
957,255
2,144,866
30,313
3/28/2018
Corpus Christi
TX
-
383,527
1,162,301
-
-
383,527
1,162,301
1,545,828
36,806
3/28/2018
Corpus Christi
TX
-
2,993,606
2,640,987
-
-
2,993,606
2,640,987
5,634,593
83,631
3/28/2018
Corpus Christi
TX
-
3,187,490
2,812,033
-
-
3,187,490
2,812,033
5,999,523
89,048
3/28/2018
Corpus Christi
TX
-
1,182,128
902,700
-
-
1,182,128
902,700
2,084,828
28,586
3/28/2018
Corpus Christi
TX
-
707,059
1,133,469
-
-
707,059
1,133,469
1,840,528
35,893
3/28/2018
Corpus Christi
TX
-
439,937
977,923
-
-
439,937
977,923
1,417,860
21,188
6/28/2018
Corpus Christi
TX
-
1,367,182
2,066,956
-
-
1,367,182
2,066,956
3,434,138
37,894
7/17/2018
Corpus Christi
TX
-
514,893
778,434
-
-
514,893
778,434
1,293,327
14,271
7/17/2018
Corpus Christi
TX
-
529,116
597,705
-
-
529,116
597,705
1,126,821
10,958
7/17/2018
Corpus Christi
TX
-
724,137
1,094,776
-
-
724,137
1,094,776
1,818,913
20,071
7/17/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Corpus Christi
TX
-
582,622
880,828
-
-
582,622
880,828
1,463,450
4,404
11/2/2018
Corpus Christi
TX
-
1,278,063
1,932,222
-
-
1,278,063
1,932,222
3,210,285
9,661
11/2/2018
Corpus Christi
TX
-
1,038,130
1,569,482
-
-
1,038,130
1,569,482
2,607,612
7,847
11/2/2018
Corpus Christi
TX
-
1,319,053
959,017
-
-
1,319,053
959,017
2,278,070
4,795
11/2/2018
Corpus Christi
TX
-
736,135
749,806
-
-
736,135
749,806
1,485,941
3,749
11/2/2018
Cotulla
TX
-
649,646
5,353,082
-
-
649,646
5,353,082
6,002,728
169,514
3/28/2018
Dallas
TX
-
1,240,000
1,210,248
-
-
1,240,000
1,210,248
2,450,248
98,575
12/21/2016
Dallas
TX
-
1,407,567
1,759,813
-
-
1,407,567
1,759,813
3,167,380
143,283
12/21/2016
Dallas
TX
-
1,840,000
1,217,286
-
-
1,840,000
1,217,286
3,057,286
99,239
12/21/2016
Dayton
TX
-
1,490,269
3,060,020
-
-
1,490,269
3,060,020
4,550,289
96,901
3/28/2018
Deer Park
TX
-
1,494,282
2,259,109
-
-
1,494,282
2,259,109
3,753,391
41,417
7/17/2018
Del Rio
TX
-
365,849
824,074
-
-
365,849
824,074
1,189,923
26,096
3/28/2018
Del Rio
TX
-
993,157
876,172
-
-
993,157
876,172
1,869,329
27,745
3/28/2018
Donna
TX
-
2,424,332
1,911,531
-
-
2,424,332
1,911,531
4,335,863
60,532
3/28/2018
Donna
TX
-
682,214
1,031,396
-
-
682,214
1,031,396
1,713,610
18,909
7/17/2018
Driscoll
TX
-
1,023,036
1,546,663
-
-
1,023,036
1,546,663
2,569,699
7,733
11/2/2018
Duncanville
TX
-
1,460,000
1,664,084
-
-
1,460,000
1,664,084
3,124,084
135,482
12/21/2016
Eagle Pass
TX
-
779,682
1,733,131
-
-
779,682
1,733,131
2,512,813
37,551
6/28/2018
Eagle Pass
TX
-
1,377,103
2,913,604
-
-
1,377,103
2,913,604
4,290,707
63,128
6/28/2018
Edinburg
TX
-
2,350,348
2,073,499
-
-
2,350,348
2,073,499
4,423,847
65,661
3/28/2018
Edinburg
TX
-
1,291,272
1,139,172
-
-
1,291,272
1,139,172
2,430,444
36,074
3/28/2018
Edinburg
TX
-
1,104,151
1,669,296
-
-
1,104,151
1,669,296
2,773,447
30,604
7/17/2018
Edinburg
TX
-
843,910
1,275,854
-
-
843,910
1,275,854
2,119,764
23,391
7/17/2018
Edinburg
TX
-
773,530
820,992
-
-
773,530
820,992
1,594,522
15,052
7/17/2018
Edinburg
TX
-
1,397,923
2,113,430
-
-
1,397,923
2,113,430
3,511,353
38,746
7/17/2018
El Campo
TX
-
819,232
2,828,348
-
-
819,232
2,828,348
3,647,580
61,281
6/28/2018
Elmendorf
TX
-
1,910,000
771,525
-
-
1,910,000
771,525
2,681,525
62,893
12/21/2016
Falfurrias
TX
-
1,186,201
1,664,570
-
-
1,186,201
1,664,570
2,850,771
30,517
7/17/2018
Flower Mound
TX
-
1,060,000
1,138,688
-
-
1,060,000
1,138,688
2,198,688
92,736
12/21/2016
Forney
TX
-
860,000
1,996,480
-
-
860,000
1,996,480
2,856,480
162,525
12/21/2016
Fort Worth
TX
-
1,113,705
1,586,295
-
-
1,113,705
1,586,295
2,700,000
129,149
12/21/2016
Fort Worth
TX
-
1,750,000
1,673,026
-
-
1,750,000
1,673,026
3,423,026
136,099
12/21/2016
Fort Worth
TX
-
1,160,000
1,030,180
-
-
1,160,000
1,030,180
2,190,180
83,893
12/21/2016
Fort Worth
TX
-
1,290,000
1,509,613
-
-
1,290,000
1,509,613
2,799,613
122,782
12/21/2016
Fredericksburg
TX
-
1,062,091
1,730,991
-
-
1,062,091
1,730,991
2,793,082
54,815
3/28/2018
Garland
TX
-
1,390,000
2,050,000
-
-
1,390,000
2,050,000
3,440,000
166,885
12/21/2016
Geronimo
TX
-
747,542
1,143,740
-
-
747,542
1,143,740
1,891,282
36,218
3/28/2018
Grand Prairie
TX
-
1,409,192
2,007,169
-
-
1,409,192
2,007,169
3,416,361
163,415
12/21/2016
Grapevine
TX
-
1,689,293
2,112,042
-
-
1,689,293
2,112,042
3,801,335
171,962
12/21/2016
Harlingen
TX
-
311,807
693,107
-
-
311,807
693,107
1,004,914
15,017
6/28/2018
Harlingen
TX
-
1,958,145
1,042,687
-
-
1,958,145
1,042,687
3,000,832
5,213
11/2/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Houston
TX
-
1,705,053
2,621,575
-
-
1,705,053
2,621,575
4,326,628
83,017
3/28/2018
Houston
TX
-
2,482,470
2,190,058
-
-
2,482,470
2,190,058
4,672,528
69,352
3/28/2018
Houston
TX
-
2,032,892
1,793,436
-
-
2,032,892
1,793,436
3,826,328
56,792
3/28/2018
Houston
TX
-
2,040,702
1,800,326
-
-
2,040,702
1,800,326
3,841,028
57,010
3/28/2018
Houston
TX
-
3,127,112
2,815,465
-
-
3,127,112
2,815,465
5,942,577
89,156
3/28/2018
Houston
TX
-
1,325,217
1,169,119
-
-
1,325,217
1,169,119
2,494,336
37,022
3/28/2018
Houston
TX
-
2,481,093
1,449,481
-
-
2,481,093
1,449,481
3,930,574
45,900
3/28/2018
Houston
TX
-
1,792,729
1,140,132
-
-
1,792,729
1,140,132
2,932,861
36,104
3/28/2018
Houston
TX
-
1,355,337
1,195,691
-
-
1,355,337
1,195,691
2,551,028
37,864
3/28/2018
Houston
TX
-
935,769
2,080,093
-
-
935,769
2,080,093
3,015,862
45,069
6/28/2018
Houston
TX
-
2,094,775
2,322,872
-
-
2,094,775
2,322,872
4,417,647
11,614
11/2/2018
Irving
TX
-
1,234,395
1,537,844
-
-
1,234,395
1,537,844
2,772,239
125,189
12/21/2016
Irving
TX
-
850,000
1,590,527
-
-
850,000
1,590,527
2,440,527
129,417
12/21/2016
Johnson City
TX
-
1,738,116
1,832,626
-
-
1,738,116
1,832,626
3,570,742
58,033
3/28/2018
Jourdanton
TX
-
547,018
1,139,985
-
-
547,018
1,139,985
1,687,003
24,700
6/28/2018
Karnes City
TX
-
2,135,289
4,737,056
-
-
2,135,289
4,737,056
6,872,345
150,007
3/28/2018
Kerrville
TX
-
1,468,220
1,371,904
-
-
1,468,220
1,371,904
2,840,124
43,444
3/28/2018
Kerrville
TX
-
1,427,597
1,022,810
-
-
1,427,597
1,022,810
2,450,407
32,389
3/28/2018
Kingwood
TX
-
1,407,479
1,241,691
-
-
1,407,479
1,241,691
2,649,170
39,320
3/28/2018
Kyle
TX
-
2,053,465
2,179,463
-
-
2,053,465
2,179,463
4,232,928
39,957
7/17/2018
Kyle
TX
-
1,389,677
2,100,965
-
-
1,389,677
2,100,965
3,490,642
38,518
7/17/2018
Kyle
TX
-
2,272,730
3,435,995
-
-
2,272,730
3,435,995
5,708,725
62,993
7/17/2018
Kyle
TX
-
1,044,503
1,265,497
-
-
1,044,503
1,265,497
2,310,000
6,327
11/2/2018
La Joya
TX
-
1,245,956
4,089,495
-
-
1,245,956
4,089,495
5,335,451
74,974
7/17/2018
La Porte
TX
-
861,270
1,914,491
-
-
861,270
1,914,491
2,775,761
41,481
6/28/2018
La Porte
TX
-
1,442,423
2,180,707
-
-
1,442,423
2,180,707
3,623,130
39,980
7/17/2018
Laguna Vista
TX
-
926,225
2,437,772
-
-
926,225
2,437,772
3,363,997
77,196
3/28/2018
Lampasas
TX
-
1,057,009
4,001,533
-
-
1,057,009
4,001,533
5,058,542
73,361
7/17/2018
Laredo
TX
-
1,659,329
1,267,101
-
-
1,659,329
1,267,101
2,926,430
40,125
3/28/2018
Laredo
TX
-
2,524,495
2,227,133
-
-
2,524,495
2,227,133
4,751,628
70,526
3/28/2018
Laredo
TX
-
1,489,440
1,313,998
-
-
1,489,440
1,313,998
2,803,438
41,610
3/28/2018
Laredo
TX
-
1,636,152
1,863,032
-
-
1,636,152
1,863,032
3,499,184
58,996
3/28/2018
Laredo
TX
-
2,399,094
1,832,002
-
-
2,399,094
1,832,002
4,231,096
58,013
3/30/2018
Laredo
TX
-
554,030
1,231,537
-
-
554,030
1,231,537
1,785,567
26,683
6/28/2018
Laredo
TX
-
584,286
1,298,792
-
-
584,286
1,298,792
1,883,078
28,140
6/28/2018
Laredo
TX
-
2,425,249
3,666,579
-
-
2,425,249
3,666,579
6,091,828
67,221
7/17/2018
Laredo
TX
-
1,064,584
1,609,476
-
-
1,064,584
1,609,476
2,674,060
8,047
11/2/2018
Laredo
TX
-
914,070
1,381,924
-
-
914,070
1,381,924
2,295,994
6,910
11/2/2018
League City
TX
-
656,896
2,424,055
-
-
656,896
2,424,055
3,080,951
52,521
6/28/2018
Leakey
TX
-
1,487,310
1,590,030
-
-
1,487,310
1,590,030
3,077,340
50,351
3/28/2018
Leander
TX
-
1,780,000
833,337
-
-
1,780,000
833,337
2,613,337
67,901
12/21/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Livingston
TX
-
684,345
2,246,169
-
-
684,345
2,246,169
2,930,514
41,180
7/17/2018
Lockhart
TX
-
1,027,279
1,021,872
-
-
1,027,279
1,021,872
2,049,151
22,141
6/28/2018
Los Fresnos
TX
-
1,242,396
2,064,809
-
-
1,242,396
2,064,809
3,307,205
65,386
3/30/2018
Manchaca
TX
-
1,227,485
806,048
-
-
1,227,485
806,048
2,033,533
14,778
7/17/2018
Maxwell
TX
-
1,307,800
2,848,328
-
-
1,307,800
2,848,328
4,156,128
90,197
3/28/2018
Mcallen
TX
-
2,177,311
2,182,570
-
-
2,177,311
2,182,570
4,359,881
69,115
3/28/2018
McAllen
TX
-
326,325
493,350
-
-
326,325
493,350
819,675
9,045
7/17/2018
McAllen
TX
-
681,449
1,030,239
-
-
681,449
1,030,239
1,711,688
18,888
7/17/2018
Mission
TX
-
1,835,859
1,619,611
-
-
1,835,859
1,619,611
3,455,470
51,288
3/28/2018
Mission
TX
-
1,997,996
1,570,952
-
-
1,997,996
1,570,952
3,568,948
49,747
3/28/2018
Mission
TX
-
494,998
1,100,316
-
-
494,998
1,100,316
1,595,314
23,840
6/28/2018
Mission
TX
-
722,246
734,698
-
-
722,246
734,698
1,456,944
13,470
7/17/2018
Mount Enterprise
TX
-
3,145,151
2,916,413
-
-
3,145,151
2,916,413
6,061,564
14,582
11/2/2018
Navasota
TX
-
1,145,538
3,759,904
-
-
1,145,538
3,759,904
4,905,442
68,932
7/17/2018
New Braunfels
TX
-
1,535,086
1,143,310
-
-
1,535,086
1,143,310
2,678,396
36,205
3/28/2018
New Braunfels
TX
-
310,884
1,444,640
-
-
310,884
1,444,640
1,755,524
31,301
6/28/2018
New Braunfels
TX
-
1,019,822
846,235
-
-
1,019,822
846,235
1,866,057
15,514
7/17/2018
New Braunfels
TX
-
1,090,490
1,240,672
-
-
1,090,490
1,240,672
2,331,162
6,203
11/2/2018
Nixon
TX
-
1,383,173
1,616,995
-
-
1,383,173
1,616,995
3,000,168
29,645
7/17/2018
Odem
TX
-
1,393,729
4,574,519
-
-
1,393,729
4,574,519
5,968,248
83,866
7/17/2018
Pasadena
TX
-
1,720,901
1,953,222
-
-
1,720,901
1,953,222
3,674,123
61,852
3/28/2018
Pharr
TX
-
3,515,158
1,959,701
-
-
3,515,158
1,959,701
5,474,859
35,928
7/17/2018
Pharr
TX
-
744,756
1,125,950
-
-
744,756
1,125,950
1,870,706
20,642
7/17/2018
Pharr
TX
-
771,458
1,166,319
-
-
771,458
1,166,319
1,937,777
21,383
7/17/2018
Pharr
TX
-
929,258
1,404,886
-
-
929,258
1,404,886
2,334,144
25,756
7/17/2018
Pharr
TX
-
986,113
992,277
-
-
986,113
992,277
1,978,390
18,192
7/17/2018
Pharr
TX
-
1,737,993
741,347
-
-
1,737,993
741,347
2,479,340
3,707
11/2/2018
Pharr
TX
-
797,461
1,205,631
-
-
797,461
1,205,631
2,003,092
6,028
11/2/2018
Port Aransas
TX
-
940,783
693,208
-
-
940,783
693,208
1,633,991
12,709
7/17/2018
Port Isabel
TX
-
385,010
678,718
-
-
385,010
678,718
1,063,728
14,706
6/28/2018
Richmond
TX
-
1,009,861
2,244,790
-
-
1,009,861
2,244,790
3,254,651
48,637
6/28/2018
Roanoke
TX
-
890,000
1,739,413
-
-
890,000
1,739,413
2,629,413
141,531
12/21/2016
Robstown
TX
-
1,394,591
1,066,862
-
-
1,394,591
1,066,862
2,461,453
23,115
6/28/2018
Roma
TX
-
719,149
2,360,403
-
-
719,149
2,360,403
3,079,552
43,274
7/17/2018
Rosenberg
TX
-
880,968
1,958,276
-
-
880,968
1,958,276
2,839,244
42,429
6/28/2018
Runge
TX
-
702,035
1,013,563
-
-
702,035
1,013,563
1,715,598
5,068
11/2/2018
San Antonio
TX
-
1,230,000
988,398
-
-
1,230,000
988,398
2,218,398
80,532
12/21/2016
San Antonio
TX
-
1,001,343
1,251,931
-
-
1,001,343
1,251,931
2,253,274
101,932
12/21/2016
San Antonio
TX
-
1,280,424
1,600,853
-
-
1,280,424
1,600,853
2,881,277
130,341
12/21/2016
San Antonio
TX
-
1,120,000
690,291
-
-
1,120,000
690,291
1,810,291
56,105
12/21/2016
San Antonio
TX
-
860,000
1,307,803
-
-
860,000
1,307,803
2,167,803
106,290
12/21/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
San Antonio
TX
-
1,190,000
1,096,235
-
-
1,190,000
1,096,235
2,286,235
89,234
12/21/2016
San Antonio
TX
-
1,190,000
1,647,542
-
-
1,190,000
1,647,542
2,837,542
134,110
12/21/2016
San Antonio
TX
-
2,130,000
1,187,030
-
-
2,130,000
1,187,030
3,317,030
96,747
12/21/2016
San Antonio
TX
-
750,008
934,382
-
-
750,008
934,382
1,684,390
76,064
12/21/2016
San Antonio
TX
-
1,742,453
2,178,506
-
-
1,742,453
2,178,506
3,920,959
177,373
12/21/2016
San Antonio
TX
-
1,125,534
1,407,201
-
-
1,125,534
1,407,201
2,532,735
114,574
12/21/2016
San Antonio
TX
-
938,680
996,276
-
-
938,680
996,276
1,934,956
18,265
7/17/2018
San Marcos
TX
-
1,155,660
1,019,533
-
-
1,155,660
1,019,533
2,175,193
32,285
3/28/2018
San Marcos
TX
-
1,442,105
1,101,223
-
-
1,442,105
1,101,223
2,543,328
34,872
3/28/2018
San Marcos
TX
-
1,396,301
1,231,829
-
-
1,396,301
1,231,829
2,628,130
39,008
3/28/2018
San Marcos
TX
-
1,641,072
1,168,443
-
-
1,641,072
1,168,443
2,809,515
37,001
3/28/2018
San Marcos
TX
-
1,617,695
891,088
-
-
1,617,695
891,088
2,508,783
28,218
3/28/2018
San Marcos
TX
-
2,561,713
3,872,890
-
-
2,561,713
3,872,890
6,434,603
71,003
7/17/2018
Schertz
TX
-
994,658
1,243,573
-
-
994,658
1,243,573
2,238,231
101,251
12/21/2016
South Padre Island
TX
-
1,610,976
2,625,562
-
-
1,610,976
2,625,562
4,236,538
83,143
3/28/2018
Spring
TX
-
2,148,211
2,097,604
-
-
2,148,211
2,097,604
4,245,815
66,424
3/28/2018
Spring Branch
TX
-
1,832,780
1,117,228
-
-
1,832,780
1,117,228
2,950,008
35,379
3/28/2018
Sullivan City
TX
-
1,023,070
1,071,640
-
-
1,023,070
1,071,640
2,094,710
19,647
7/17/2018
Taft
TX
-
651,107
633,744
-
-
651,107
633,744
1,284,851
13,731
6/28/2018
Temple
TX
-
786,180
982,923
-
-
786,180
982,923
1,769,103
80,029
12/21/2016
Texas City
TX
-
2,063,930
1,820,817
-
-
2,063,930
1,820,817
3,884,747
57,659
3/28/2018
Texas City
TX
-
1,183,365
1,789,054
-
-
1,183,365
1,789,054
2,972,419
32,799
7/17/2018
The Colony
TX
-
1,450,000
1,773,719
-
-
1,450,000
1,773,719
3,223,719
144,333
12/21/2016
Universal City
TX
-
1,000,000
799,924
-
-
1,000,000
799,924
1,799,924
65,236
12/21/2016
Uvalde
TX
-
1,253,340
2,042,688
-
-
1,253,340
2,042,688
3,296,028
64,685
3/28/2018
Waco
TX
-
1,019,902
3,301,151
-
-
1,019,902
3,301,151
4,321,053
104,536
3/28/2018
Waco
TX
-
1,172,496
2,622,916
-
-
1,172,496
2,622,916
3,795,412
83,059
3/28/2018
Waco
TX
-
1,462,896
2,211,659
-
-
1,462,896
2,211,659
3,674,555
40,547
7/17/2018
Weslaco
TX
-
1,343,056
1,184,856
-
-
1,343,056
1,184,856
2,527,912
37,520
3/28/2018
Willis
TX
-
790,528
1,757,242
-
-
790,528
1,757,242
2,547,770
38,074
6/28/2018
Wimberley
TX
-
2,000,784
1,516,492
-
-
2,000,784
1,516,492
3,517,276
7,582
11/2/2018
Roy
UT
-
1,030,000
1,452,886
-
-
1,030,000
1,452,886
2,482,886
118,475
12/21/2016
Springville
UT
-
1,249,850
1,780,212
-
-
1,249,850
1,780,212
3,030,062
144,937
12/21/2016
West Jordan
UT
-
340,000
913,622
-
-
340,000
913,622
1,253,622
74,613
12/21/2016
Abingdon
VA
-
57,847
107,997
-
-
57,847
107,997
165,844
48,057
11/29/2007
Amelia
VA
-
1,032,242
1,618,934
-
-
1,032,242
1,618,934
2,651,176
51,266
3/28/2018
Ashburn
VA
-
4,212,439
1,789,189
-
-
4,212,439
1,789,189
6,001,628
56,658
3/28/2018
Ashburn
VA
-
3,450,118
1,548,719
-
-
3,450,118
1,548,719
4,998,837
7,744
11/2/2018
Big Stone Gap
VA
-
527,303
979,860
-
-
527,303
979,860
1,507,163
436,036
11/29/2007
Bristol
VA
-
213,369
396,824
-
-
213,369
396,824
610,193
176,585
11/29/2007
Bristol
VA
-
268,303
498,845
-
-
268,303
498,845
767,148
221,984
11/29/2007
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Bristol
VA
-
171,156
318,428
-
-
171,156
318,428
489,584
141,699
11/29/2007
Carrollton
VA
-
1,140,000
1,820,000
-
-
1,140,000
1,820,000
2,960,000
148,090
12/21/2016
Castlewood
VA
-
387,303
720,307
-
-
387,303
720,307
1,107,610
320,535
11/29/2007
Centreville
VA
-
2,147,482
1,052,569
-
-
2,147,482
1,052,569
3,200,051
19,297
7/17/2018
Charlottesville
VA
-
817,604
1,621,856
-
-
817,604
1,621,856
2,439,460
322,256
1/31/2014
Charlottesville
VA
-
536,443
1,065,313
-
-
536,443
1,065,313
1,601,756
212,022
1/31/2014
Charlottesville
VA
-
692,490
1,373,977
-
-
692,490
1,373,977
2,066,467
273,094
1/31/2014
Chatham
VA
-
347,728
525,031
-
-
347,728
525,031
872,759
331,638
3/19/2003
Chesapeake
VA
-
225,000
400,366
-
-
225,000
400,366
625,366
214,196
8/18/2005
Chester
VA
-
663,724
585,543
-
-
663,724
585,543
1,249,267
18,542
3/28/2018
Chester
VA
-
1,431,712
1,093,287
-
-
1,431,712
1,093,287
2,524,999
34,621
3/28/2018
Clintwood
VA
-
378,553
703,610
-
-
378,553
703,610
1,082,163
313,105
11/29/2007
Coeburn
VA
-
168,934
314,764
-
-
168,934
314,764
483,698
140,069
11/29/2007
Coeburn
VA
-
312,303
581,021
-
-
312,303
581,021
893,324
258,553
11/29/2007
Coeburn
VA
-
282,303
525,307
-
-
282,303
525,307
807,610
233,760
11/29/2007
Collinsville
VA
-
84,465
130,137
-
-
84,465
130,137
214,602
82,196
3/19/2003
Danville
VA
-
149,276
227,333
-
-
149,276
227,333
376,609
143,591
3/19/2003
Danville
VA
-
83,644
128,884
-
-
83,644
128,884
212,528
81,405
3/19/2003
Danville
VA
-
266,722
403,501
-
-
266,722
403,501
670,223
254,871
3/19/2003
Franklin
VA
-
536,667
863,699
-
-
536,667
863,699
1,400,366
462,079
8/18/2005
Fredericksburg
VA
-
846,905
1,186,700
-
-
846,905
1,186,700
2,033,605
37,579
3/28/2018
Gate City
VA
-
422,303
784,845
-
-
422,303
784,845
1,207,148
349,254
11/29/2007
Glen Allen
VA
-
329,698
498,015
-
-
329,698
498,015
827,713
314,572
3/19/2003
Gordonsville
VA
-
770,000
1,156,978
-
-
770,000
1,156,978
1,926,978
229,908
1/31/2014
Gordonsville
VA
-
2,190,000
2,289,653
-
-
2,190,000
2,289,653
4,479,653
454,997
1/31/2014
Herndon
VA
-
2,804,743
1,056,028
-
-
2,804,743
1,056,028
3,860,771
19,361
7/17/2018
Highland Springs
VA
-
396,720
598,547
-
-
396,720
598,547
995,267
378,075
3/19/2003
Honaker
VA
-
492,303
915,307
-
-
492,303
915,307
1,407,610
407,310
11/29/2007
La Crosse
VA
-
404,872
2,075,709
-
-
404,872
2,075,709
2,480,581
44,974
6/28/2018
Leesburg
VA
-
2,743,240
1,164,375
-
-
2,743,240
1,164,375
3,907,615
21,347
7/17/2018
Manassas
VA
-
1,243,785
1,880,399
-
-
1,243,785
1,880,399
3,124,184
34,474
7/17/2018
Manassas
VA
-
955,784
888,128
-
-
955,784
888,128
1,843,912
16,282
7/17/2018
Manassas
VA
-
367,441
1,236,728
-
-
367,441
1,236,728
1,604,169
22,673
7/17/2018
Martinsville
VA
-
246,820
373,653
-
-
246,820
373,653
620,473
236,017
3/19/2003
Martinsville
VA
-
83,521
128,706
-
-
83,521
128,706
212,227
81,292
3/19/2003
Midlothian
VA
-
325,000
302,872
-
325,000
303,025
628,025
259,062
8/21/1997
Midlothian
VA
-
970,690
856,351
-
-
970,690
856,351
1,827,041
27,118
3/28/2018
Midlothian
VA
-
1,875,908
1,654,943
-
-
1,875,908
1,654,943
3,530,851
52,406
3/28/2018
Newport News
VA
-
1,519,830
1,900,170
-
-
1,519,830
1,900,170
3,420,000
154,711
12/21/2016
Newport News
VA
-
1,053,215
1,316,785
-
-
1,053,215
1,316,785
2,370,000
107,212
12/21/2016
Norfolk
VA
-
1,260,000
1,790,000
-
-
1,260,000
1,790,000
3,050,000
145,653
12/21/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Norfolk
VA
-
1,333,184
1,666,816
-
-
1,333,184
1,666,816
3,000,000
135,711
12/21/2016
North Chesterfield
VA
-
665,231
1,300,575
-
-
665,231
1,300,575
1,965,806
23,844
7/17/2018
North Chesterfield
VA
-
993,101
1,501,406
-
-
993,101
1,501,406
2,494,507
27,526
7/17/2018
North Chesterfield
VA
-
1,425,839
994,871
-
-
1,425,839
994,871
2,420,710
4,974
11/2/2018
Norton
VA
-
157,826
293,688
-
-
157,826
293,688
451,514
130,690
11/29/2007
Norton
VA
-
457,303
849,860
-
-
457,303
849,860
1,307,163
378,186
11/29/2007
Norton
VA
-
222,256
413,344
-
-
222,256
413,344
635,600
183,936
11/29/2007
Pound
VA
-
256,170
476,327
-
-
256,170
476,327
732,497
211,964
11/29/2007
Pound
VA
-
276,303
513,717
-
-
276,303
513,717
790,020
228,603
11/29/2007
Reston
VA
-
2,684,789
4,058,962
-
-
2,684,789
4,058,962
6,743,751
74,414
7/17/2018
Richlands
VA
-
492,303
915,307
-
-
492,303
915,307
1,407,610
407,310
11/29/2007
Richlands
VA
-
140,051
261,125
-
-
140,051
261,125
401,176
116,199
11/29/2007
Richmond
VA
-
700,000
400,740
-
-
700,000
400,740
1,100,740
331,939
4/17/1998
Richmond
VA
-
1,000,000
-
-
1,000,000
1,000,740
4/17/1998
Richmond
VA
-
700,000
100,695
-
-
700,000
100,695
800,695
83,402
4/17/1998
Richmond
VA
-
1,144,841
3,371,146
-
-
1,144,841
3,371,146
4,515,987
2,206,428
8/22/2002
Richmond
VA
-
298,227
451,014
-
-
298,227
451,014
749,241
284,883
3/19/2003
Richmond
VA
-
213,982
324,659
-
-
213,982
324,659
538,641
205,069
3/19/2003
Richmond
VA
-
482,735
727,776
-
-
482,735
727,776
1,210,511
459,705
3/19/2003
Richmond
VA
-
350,453
529,365
-
-
350,453
529,365
879,818
334,375
3/19/2003
Richmond
VA
-
323,496
488,918
-
-
323,496
488,918
812,414
308,826
3/19/2003
Richmond
VA
-
278,443
421,584
-
-
278,443
421,584
700,027
266,293
3/19/2003
Richmond
VA
-
1,604,885
1,415,844
-
-
1,604,885
1,415,844
3,020,729
44,835
3/28/2018
Richmond
VA
-
629,008
667,602
-
-
629,008
667,602
1,296,610
12,239
7/17/2018
Richmond
VA
-
618,745
656,710
-
-
618,745
656,710
1,275,455
12,040
7/17/2018
Roanoke
VA
-
325,000
575,366
-
-
325,000
575,366
900,366
307,821
8/18/2005
Rosedale
VA
-
211,147
393,160
-
-
211,147
393,160
604,307
174,955
11/29/2007
Saint Paul
VA
-
334,803
622,807
-
-
334,803
622,807
957,610
277,148
11/29/2007
Saint Paul
VA
-
422,303
785,307
-
-
422,303
785,307
1,207,610
349,460
11/29/2007
Sandston
VA
-
152,535
232,528
-
-
152,535
232,528
385,063
146,873
3/19/2003
South Boston
VA
-
160,893
244,778
-
-
160,893
244,778
405,671
154,611
3/19/2003
South Prince George
VA
-
384,192
469,609
-
-
384,192
469,609
853,801
8,609
7/17/2018
South Riding
VA
-
2,517,028
2,220,544
-
-
2,517,028
2,220,544
4,737,572
70,317
3/28/2018
Springfield
VA
-
3,034,395
2,070,756
-
-
3,034,395
2,070,756
5,105,151
44,866
6/28/2018
Stafford
VA
-
1,729,505
1,353,526
-
-
1,729,505
1,353,526
3,083,031
24,815
7/17/2018
Staunton
VA
-
675,000
1,000,366
-
-
675,000
1,000,366
1,675,366
535,196
8/18/2005
Suffolk
VA
-
700,000
1,000,366
-
-
700,000
1,000,366
1,700,366
535,196
8/18/2005
Tazewell
VA
-
153,382
285,882
-
-
153,382
285,882
439,264
127,216
11/29/2007
Troutville
VA
-
481,691
975,366
-
-
481,691
975,366
1,457,057
521,821
8/18/2005
Virginia Beach
VA
-
1,194,560
2,218,773
-
-
1,194,560
2,218,773
3,413,333
1,468,075
6/27/2002
Virginia Beach
VA
-
738,743
1,052,222
-
-
738,743
1,052,222
1,790,965
85,667
12/21/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Warrenton
VA
-
515,971
649,125
-
515,971
649,286
1,165,257
572,473
12/20/1996
Weber City
VA
-
369,803
687,345
-
-
369,803
687,345
1,057,148
305,867
11/29/2007
Williamsburg
VA
-
838,172
1,556,910
-
-
838,172
1,556,910
2,395,082
1,030,088
6/27/2002
Wise
VA
-
334,803
622,360
-
-
334,803
622,360
957,163
276,949
11/29/2007
Wise
VA
-
66,733
124,517
-
-
66,733
124,517
191,250
55,408
11/29/2007
Wise
VA
-
527,303
979,860
-
-
527,303
979,860
1,507,163
436,036
11/29/2007
Wytheville
VA
-
1,222,535
1,577,830
-
-
1,222,535
1,577,830
2,800,365
844,139
8/18/2005
Yorktown
VA
-
2,121,289
4,703,093
-
-
2,121,289
4,703,093
6,824,382
1,121,479
1/22/2013
Newport News
VA
-
490,616
605,304
-
-
490,616
605,304
1,095,920
472,051
4/17/1998
Tumwater
WA
-
270,000
1,142,229
-
-
270,000
1,142,229
1,412,229
93,282
12/21/2016
East Troy
WI
-
578,813
1,074,938
-
-
578,813
1,074,938
1,653,751
389,850
12/28/2009
Ellsworth
WI
-
175,000
325,000
-
-
175,000
325,000
500,000
105,269
12/1/2010
Menomonie
WI
-
770,442
1,430,821
-
-
770,442
1,430,821
2,201,263
461,218
12/1/2010
Menomonie
WI
-
175,000
325,000
-
-
175,000
325,000
500,000
105,512
12/1/2010
Menomonie
WI
-
441,256
819,475
-
-
441,256
819,475
1,260,731
264,326
12/1/2010
Mondovi
WI
-
175,000
325,000
-
-
175,000
325,000
500,000
105,269
12/1/2010
Osseo
WI
-
613,373
1,139,122
-
-
613,373
1,139,122
1,752,495
367,631
12/1/2010
Crafts / Novelties
Enterprise
AL
-
780,000
3,201,454
-
-
780,000
3,201,454
3,981,454
261,452
12/29/2016
Morgan Hill
CA
-
319,063
2,518,205
-
-
319,063
2,518,205
2,837,268
633,748
9/18/2012
Rancho Cucamonga
CA
-
2,790,740
4,713,106
45,796
-
2,790,740
4,758,902
7,549,642
1,210,399
9/18/2012
Roseville
CA
-
1,415,674
4,367,269
-
-
1,415,674
4,367,269
5,782,943
1,099,096
9/18/2012
Temecula
CA
-
2,027,441
4,644,558
9,194
-
2,027,441
4,653,752
6,681,193
1,170,847
9/18/2012
Clermont
FL
-
980,500
4,587,292
-
-
980,500
4,587,292
5,567,792
1,050,548
6/26/2012
Cutler Bay
FL
-
743,498
657,485
514,466
743,498
1,172,156
1,915,654
804,688
12/31/1998
Albany
GA
-
653,464
13,287,064
-
281,372
653,464
13,568,436
14,221,900
325,444
1/22/2013
Rockford
IL
-
159,587
618,398
178,656
159,587
797,266
956,853
618,608
11/26/1996
Hickory
NC
-
1,400,000
4,894,632
(569
)
-
1,400,000
4,894,063
6,294,063
332,558
6/8/2016
Minot
ND
-
500,000
2,514,029
-
-
500,000
2,514,029
3,014,029
230,453
9/15/2016
Clovis
NM
-
150,000
2,939,618
53,910
-
150,000
2,993,528
3,143,528
566,826
6/30/2014
Stony Brook
NY
-
980,000
1,801,586
78,970
-
980,000
1,880,555
2,860,555
1,455,760
1/11/1999
Columbia
SC
-
1,102,910
4,391,377
-
-
1,102,910
4,391,377
5,494,287
863,274
6/21/2013
Mt Juliet
TN
-
2,449,395
6,074,357
-
158,694
2,449,395
6,233,051
8,682,446
1,050,969
12/10/2013
Morgantown
WV
-
1,790,000
3,812,134
-
-
1,790,000
3,812,134
5,602,134
235,082
6/30/2017
Diversified Industrial
Jacksonville
FL
-
2,210,000
41,394,890
-
-
2,210,000
41,394,890
43,604,890
4,381,429
2/25/2015
West Point
GA
-
430,000
12,263,738
114,454
-
430,000
12,378,192
12,808,192
1,020,803
2/3/2016
Cedar Rapids
IA
-
1,000,000
12,981,440
-
-
1,000,000
12,981,440
13,981,440
1,931,762
10/10/2013
Buffalo Grove
IL
9,775,010
3,130,000
17,353,386
-
-
3,130,000
17,353,386
20,483,386
2,334,444
4/1/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Portland
TN
-
1,481,370
10,969,189
-
-
1,481,370
10,969,189
12,450,559
2,760,579
9/19/2012
Deer Park
TX
9,790,000
2,410,000
13,364,183
-
-
2,410,000
13,364,183
15,774,183
1,797,801
4/1/2014
Dollar Stores
Andalusia
AL
-
334,025
1,085,582
-
-
334,025
1,085,582
1,419,607
258,730
1/22/2013
Ariton
AL
-
113,182
824,898
-
-
113,182
824,898
938,080
163,605
1/31/2014
Bessemer
AL
-
391,797
1,273,339
-
-
391,797
1,273,339
1,665,136
303,479
1/22/2013
Bessemer
AL
-
279,833
1,100,867
-
-
279,833
1,100,867
1,380,700
236,686
8/22/2013
Birmingham
AL
-
707,673
1,314,251
-
-
707,673
1,314,251
2,021,924
343,896
6/1/2012
Birmingham
AL
-
322,861
599,600
-
-
322,861
599,600
922,461
144,903
12/14/2012
Birmingham
AL
-
248,925
979,275
-
-
248,925
979,275
1,228,200
210,544
8/22/2013
Birmingham
AL
-
235,245
925,455
-
-
235,245
925,455
1,160,700
198,973
8/22/2013
Birmingham
AL
-
265,160
1,043,140
-
-
265,160
1,043,140
1,308,300
224,275
8/22/2013
Birmingham
AL
-
312,444
1,229,156
-
-
312,444
1,229,156
1,541,600
264,269
8/22/2013
Birmingham
AL
-
266,882
1,049,918
-
-
266,882
1,049,918
1,316,800
225,732
8/22/2013
Camp Hill
AL
-
127,780
851,515
-
-
127,780
851,515
979,295
168,884
1/24/2014
Castleberry
AL
-
121,658
810,716
-
-
121,658
810,716
932,374
160,792
1/24/2014
Cedar Bluff
AL
-
160,037
836,150
-
-
160,037
836,150
996,187
165,836
1/24/2014
Center Point
AL
-
232,043
912,857
-
-
232,043
912,857
1,144,900
196,264
8/22/2013
Clanton
AL
-
300,000
962,598
-
-
300,000
962,598
1,262,598
190,915
1/31/2014
Crossville
AL
-
268,814
873,647
-
-
268,814
873,647
1,142,461
208,219
1/22/2013
Cullman
AL
-
277,067
685,954
-
-
277,067
685,954
963,021
136,048
1/24/2014
Decatur
AL
-
301,085
559,159
-
-
301,085
559,159
860,244
146,313
6/1/2012
Decatur
AL
-
269,275
765,035
-
-
269,275
765,035
1,034,310
151,732
1/31/2014
Duncanville
AL
-
162,574
786,023
-
-
162,574
786,023
948,597
155,895
1/31/2014
Enterprise
AL
-
294,944
837,962
-
-
294,944
837,962
1,132,906
166,196
1/31/2014
Eufaula
AL
-
201,712
1,053,886
-
-
201,712
1,053,886
1,255,598
209,021
1/24/2014
Evergreen
AL
-
193,413
1,010,529
-
-
193,413
1,010,529
1,203,942
200,422
1/24/2014
Florence
AL
-
419,440
778,959
-
-
419,440
778,959
1,198,399
188,248
12/14/2012
Forestdale
AL
-
287,839
1,132,361
-
-
287,839
1,132,361
1,420,200
243,458
8/22/2013
Frisco City
AL
-
163,025
788,202
-
-
163,025
788,202
951,227
156,327
1/31/2014
Gilbertown
AL
-
171,006
1,246,332
-
-
171,006
1,246,332
1,417,338
247,189
1/31/2014
Huntsville
AL
-
501,318
931,020
-
-
501,318
931,020
1,432,338
243,617
6/1/2012
Jasper
AL
-
276,246
897,800
-
-
276,246
897,800
1,174,046
213,976
1/22/2013
Jasper
AL
-
282,574
918,366
-
-
282,574
918,366
1,200,940
218,877
1/22/2013
Jasper
AL
-
280,753
912,446
-
-
280,753
912,446
1,193,199
217,466
1/22/2013
Lillian
AL
-
203,832
985,500
-
-
203,832
985,500
1,189,332
195,458
1/31/2014
Livingston
AL
-
239,319
941,481
-
-
239,319
941,481
1,180,800
202,418
8/22/2013
Marbury
AL
-
160,000
1,006,765
-
-
160,000
1,006,765
1,166,765
199,675
1/31/2014
Mobile
AL
-
212,971
837,829
-
-
212,971
837,829
1,050,800
180,133
8/22/2013
Montgomery
AL
-
532,170
988,317
-
-
532,170
988,317
1,520,487
238,843
12/14/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Montgomery
AL
-
366,980
681,533
-
-
366,980
681,533
1,048,513
164,704
12/14/2012
Moundville
AL
-
230,583
907,117
-
-
230,583
907,117
1,137,700
195,030
8/22/2013
Odenville
AL
-
176,981
855,676
-
-
176,981
855,676
1,032,657
169,709
1/31/2014
Opelika
AL
-
331,598
1,077,694
-
-
331,598
1,077,694
1,409,292
256,851
1/22/2013
Prichard
AL
-
429,411
797,478
-
-
429,411
797,478
1,226,889
192,724
12/14/2012
Remlap
AL
-
177,711
859,208
-
-
177,711
859,208
1,036,919
170,410
1/31/2014
Samson
AL
-
181,064
1,319,631
-
-
181,064
1,319,631
1,500,695
261,727
1/31/2014
Shelby
AL
-
277,350
901,388
-
-
277,350
901,388
1,178,738
214,831
1/22/2013
Slocomb
AL
-
268,240
1,055,260
-
-
268,240
1,055,260
1,323,500
226,881
8/22/2013
Slocomb
AL
-
280,000
2,597,341
-
-
280,000
2,597,341
2,877,341
515,139
1/31/2014
Smiths Station
AL
-
359,391
1,168,019
-
-
359,391
1,168,019
1,527,410
278,378
1/22/2013
Sycamore
AL
-
50,000
885,687
-
-
50,000
885,687
935,687
175,661
1/31/2014
Sylacauga
AL
-
147,110
980,328
-
-
147,110
980,328
1,127,438
194,432
1/24/2014
Thorsby
AL
-
298,516
970,178
-
-
298,516
970,178
1,268,694
231,226
1/22/2013
Troy
AL
-
257,985
1,014,915
-
-
257,985
1,014,915
1,272,900
218,207
8/22/2013
Uriah
AL
-
140,000
776,826
-
-
140,000
776,826
916,826
154,070
1/31/2014
Weaver
AL
-
220,771
627,231
32,367
-
220,771
659,598
880,369
135,498
12/20/2013
Webb
AL
-
173,294
905,411
-
-
173,294
905,411
1,078,705
179,573
1/24/2014
Wedowee
AL
-
251,256
988,444
-
-
251,256
988,444
1,239,700
212,515
8/22/2013
York
AL
-
218,727
860,473
-
-
218,727
860,473
1,079,200
185,002
8/22/2013
Atkins
AR
-
264,657
491,507
-
-
264,657
491,507
756,164
118,781
12/14/2012
Black Rock
AR
-
137,428
915,809
-
-
137,428
915,809
1,053,237
181,635
1/24/2014
Cabot
AR
-
479,323
1,186,692
-
-
479,323
1,186,692
1,666,015
235,361
1/24/2014
Clarendon
AR
-
156,618
1,043,684
-
-
156,618
1,043,684
1,200,302
206,997
1/24/2014
Dermott
AR
-
137,299
540,136
-
-
137,299
540,136
677,435
114,329
9/18/2013
Drasco
AR
-
135,176
900,796
-
-
135,176
900,796
1,035,972
178,658
1/24/2014
England
AR
-
147,813
985,008
-
-
147,813
985,008
1,132,821
195,360
1/24/2014
Greenbrier
AR
-
277,423
1,449,455
-
-
277,423
1,449,455
1,726,878
287,475
1/24/2014
Gurdon
AR
-
99,815
727,471
-
-
-
99,815
727,471
827,286
149,132
11/20/2013
Hampton
AR
-
128,214
854,405
-
-
128,214
854,405
982,619
169,457
1/24/2014
Haskell
AR
-
191,254
999,249
-
-
191,254
999,249
1,190,503
198,184
1/24/2014
Hope
AR
-
421,413
782,623
-
-
421,413
782,623
1,204,036
204,786
6/1/2012
Huntsville
AR
-
168,806
1,124,906
-
-
168,806
1,124,906
1,293,712
223,106
1/24/2014
Jasper
AR
-
110,000
835,511
-
-
110,000
835,511
945,511
165,710
1/24/2014
Jonesboro
AR
-
240,000
867,698
-
-
240,000
867,698
1,107,698
172,093
1/24/2014
Jonesboro
AR
-
380,000
806,115
-
-
380,000
806,115
1,186,115
159,879
1/24/2014
Little Rock
AR
-
248,520
977,680
-
-
248,520
977,680
1,226,200
210,201
8/22/2013
Little Rock
AR
-
157,195
618,405
-
-
157,195
618,405
775,600
132,957
8/22/2013
Malvern
AR
-
139,776
570,280
-
-
139,776
570,280
710,056
135,917
1/24/2013
Marianna
AR
-
230,373
427,836
-
-
230,373
427,836
658,209
103,394
12/14/2012
Ola
AR
-
126,412
842,394
-
-
126,412
842,394
968,806
167,075
1/24/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Pine Bluff
AR
-
562,282
1,044,237
-
-
562,282
1,044,237
1,606,519
273,242
6/1/2012
Pine Bluff
AR
-
579,851
1,076,865
-
-
579,851
1,076,865
1,656,716
260,242
12/14/2012
Pine Bluff
AR
-
243,412
602,631
-
-
243,412
602,631
846,043
119,522
1/24/2014
Pine Bluff
AR
-
279,924
693,026
-
-
279,924
693,026
972,950
137,450
1/24/2014
Prescott
AR
-
119,075
793,501
-
-
119,075
793,501
912,576
157,378
1/24/2014
Sherwood
AR
-
225,665
887,766
-
-
225,665
887,766
1,113,431
193,829
7/9/2013
West Fork
AR
-
281,211
1,469,249
-
-
281,211
1,469,249
1,750,460
291,401
1/24/2014
West Helena
AR
-
331,612
615,851
-
-
331,612
615,851
947,463
148,831
12/14/2012
Bisbee
AZ
-
181,118
946,292
-
-
181,118
946,292
1,127,410
187,681
1/24/2014
Camp Verde
AZ
-
244,826
454,678
-
-
244,826
454,678
699,504
118,974
6/1/2012
Douglas
AZ
-
188,809
986,472
-
-
188,809
986,472
1,175,281
195,650
1/24/2014
Elfrida
AZ
-
95,644
1,115,205
-
-
95,644
1,115,205
1,210,849
46,467
12/28/2017
Gila Bend
AZ
-
161,460
1,075,950
-
-
161,460
1,075,950
1,237,410
213,397
1/24/2014
Meadview
AZ
-
52,020
1,046,644
-
-
52,020
1,046,644
1,098,664
43,610
12/28/2017
Phoenix
AZ
-
712,708
1,323,600
-
-
712,708
1,323,600
2,036,308
346,342
6/1/2012
Phoenix
AZ
-
642,917
1,193,990
-
-
642,917
1,193,990
1,836,907
312,427
6/1/2012
Phoenix
AZ
-
721,637
1,340,182
-
-
721,637
1,340,182
2,061,819
350,681
6/1/2012
Phoenix
AZ
-
580,167
1,077,452
-
-
580,167
1,077,452
1,657,619
281,933
6/1/2012
Phoenix
AZ
-
490,756
1,223,676
-
-
490,756
1,223,676
1,714,432
50,987
12/28/2017
Salome
AZ
-
251,540
989,560
-
-
251,540
989,560
1,241,100
212,755
8/22/2013
Seligman
AZ
-
175,058
1,021,900
-
-
175,058
1,021,900
1,196,958
42,579
12/28/2017
Tolleson
AZ
-
581,123
1,079,228
-
-
581,123
1,079,228
1,660,351
282,398
6/1/2012
Tucson
AZ
-
461,061
856,257
-
-
461,061
856,257
1,317,318
224,054
6/1/2012
Tucson
AZ
-
259,447
1,020,665
-
-
259,447
1,020,665
1,280,112
226,247
6/21/2013
Williams
AZ
-
160,391
1,168,960
-
-
160,391
1,168,960
1,329,351
243,533
10/15/2013
Wittmann
AZ
-
220,599
1,248,874
-
-
220,599
1,248,874
1,469,473
52,036
12/28/2017
Yuma
AZ
-
225,609
418,988
-
-
225,609
418,988
644,597
109,635
6/1/2012
Yuma
AZ
-
276,672
1,088,428
-
-
276,672
1,088,428
1,365,100
234,012
8/22/2013
Yuma
AZ
-
418,158
1,188,024
-
-
418,158
1,188,024
1,606,182
227,705
3/14/2014
Akron
CO
-
318,751
1,035,939
-
-
318,751
1,035,939
1,354,690
246,899
1/22/2013
Aurora
CO
-
495,814
1,236,286
-
-
495,814
1,236,286
1,732,100
51,512
12/28/2017
Federal Heights
CO
-
561,752
1,043,254
-
-
561,752
1,043,254
1,605,006
272,985
6/1/2012
Holyoke
CO
-
361,977
1,176,425
-
-
361,977
1,176,425
1,538,402
280,381
1/22/2013
Keenesburg
CO
-
339,959
1,104,866
-
-
339,959
1,104,866
1,444,825
263,327
1/22/2013
Silver Cliff
CO
-
245,520
797,939
1,950
-
245,520
799,889
1,045,409
192,125
1/22/2013
Anthony
FL
-
259,074
1,353,588
-
-
259,074
1,353,588
1,612,662
268,462
1/24/2014
Baldwin
FL
-
252,938
995,062
-
-
252,938
995,062
1,248,000
213,938
8/22/2013
Bartow
FL
-
476,372
884,692
-
-
476,372
884,692
1,361,064
213,800
12/14/2012
Bradenton
FL
-
255,520
739,091
-
255,520
739,664
995,184
107,146
10/9/2015
Brandon
FL
-
605,652
1,124,782
-
-
605,652
1,124,782
1,730,434
271,822
12/14/2012
Cape Coral
FL
-
310,235
1,220,465
-
-
310,235
1,220,465
1,530,700
262,400
8/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Cape Coral
FL
-
299,371
1,177,729
-
-
299,371
1,177,729
1,477,100
253,212
8/22/2013
Casselberry
FL
-
314,673
1,237,927
-
-
314,673
1,237,927
1,552,600
266,154
8/22/2013
Century
FL
-
215,484
847,716
-
-
215,484
847,716
1,063,200
182,259
8/22/2013
Citrus Springs
FL
-
210,810
1,101,421
-
-
210,810
1,101,421
1,312,231
218,448
1/24/2014
Cottondale
FL
-
458,337
851,196
-
-
458,337
851,196
1,309,533
205,706
12/14/2012
Cross City
FL
-
308,087
1,609,668
-
-
308,087
1,609,668
1,917,755
319,251
1/24/2014
Crystal River
FL
-
432,782
803,739
-
-
432,782
803,739
1,236,521
194,237
12/14/2012
Daytona Beach
FL
-
315,423
1,240,877
-
-
315,423
1,240,877
1,556,300
266,789
8/22/2013
Debary
FL
-
257,762
1,014,038
-
-
257,762
1,014,038
1,271,800
218,018
8/22/2013
DeFuniak Springs
FL
-
282,063
1,109,637
-
-
282,063
1,109,637
1,391,700
238,572
8/22/2013
Deland
FL
-
471,921
1,168,367
-
-
471,921
1,168,367
1,640,288
231,726
1/24/2014
Destin
FL
-
420,175
2,195,293
-
-
420,175
2,195,293
2,615,468
435,400
1/24/2014
Dover
FL
-
432,677
1,071,208
-
-
432,677
1,071,208
1,503,885
212,456
1/24/2014
Dundee
FL
-
250,810
986,690
-
-
250,810
986,690
1,237,500
212,138
8/22/2013
Dunedin
FL
-
353,830
1,391,970
-
-
353,830
1,391,970
1,745,800
299,274
8/22/2013
Edgewater
FL
-
579,101
1,433,719
-
-
579,101
1,433,719
2,012,820
284,354
1/24/2014
Eustis
FL
-
572,540
1,417,475
-
-
572,540
1,417,475
1,990,015
281,133
1/24/2014
Fanning Springs
FL
-
440,000
1,647,482
-
-
440,000
1,647,482
2,087,482
326,751
1/24/2014
Fern Park
FL
-
663,492
1,232,199
-
-
663,492
1,232,199
1,895,691
297,781
12/14/2012
Florahome
FL
-
197,567
1,316,563
-
-
197,567
1,316,563
1,514,130
261,118
1/24/2014
Floral City
FL
-
259,079
1,019,221
-
-
259,079
1,019,221
1,278,300
219,132
8/22/2013
Fort Meade
FL
-
261,728
1,367,452
-
-
261,728
1,367,452
1,629,180
271,211
1/24/2014
Fort Myers
FL
-
352,006
1,384,794
-
-
352,006
1,384,794
1,736,800
297,731
8/22/2013
Fort Myers
FL
-
313,964
1,235,136
-
-
313,964
1,235,136
1,549,100
265,554
8/22/2013
Fort Myers
FL
-
282,549
1,111,551
-
-
282,549
1,111,551
1,394,100
238,983
8/22/2013
Ft White
FL
-
200,000
947,109
70,791
-
200,000
1,017,900
1,217,900
195,250
1/15/2014
Ft. Walton Beach
FL
-
294,345
1,157,955
-
-
294,345
1,157,955
1,452,300
248,960
8/22/2013
Ft. White
FL
-
204,195
803,305
-
-
204,195
803,305
1,007,500
172,711
8/22/2013
Gainesville
FL
-
491,957
913,635
-
-
491,957
913,635
1,405,592
220,795
12/14/2012
Gainesville
FL
-
578,261
1,431,639
-
-
578,261
1,431,639
2,009,900
283,942
1/24/2014
Gainesville
FL
-
868,725
1,621,793
-
-
868,725
1,621,793
2,490,518
321,656
1/24/2014
Greensboro
FL
-
185,185
1,234,053
-
-
185,185
1,234,053
1,419,238
244,754
1/24/2014
Groveland
FL
-
101,782
189,258
-
-
101,782
189,258
291,040
149,826
3/31/1999
Groveland
FL
-
730,550
1,363,839
-
-
730,550
1,363,839
2,094,389
270,495
1/24/2014
Hilliard
FL
-
461,328
1,499,315
-
-
461,328
1,499,315
1,960,643
357,337
1/22/2013
Holiday
FL
-
287,353
1,130,447
-
-
287,353
1,130,447
1,417,800
243,046
8/22/2013
Holiday
FL
-
296,473
1,166,327
-
-
296,473
1,166,327
1,462,800
250,760
8/22/2013
Homosassa
FL
-
331,697
1,733,022
-
-
331,697
1,733,022
2,064,719
343,716
1/24/2014
Hudson
FL
-
485,785
902,173
-
-
485,785
902,173
1,387,958
218,025
12/14/2012
Hudson
FL
-
917,578
1,712,997
-
-
917,578
1,712,997
2,630,575
339,744
1/24/2014
Immokalee
FL
-
659,438
1,224,671
-
-
659,438
1,224,671
1,884,109
320,456
6/1/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Inglis
FL
-
221,544
871,556
-
-
221,544
871,556
1,093,100
187,385
8/22/2013
Inglis
FL
-
231,860
1,545,090
-
-
231,860
1,545,090
1,776,950
306,443
1/24/2014
Jacksonville
FL
-
479,745
890,954
-
-
479,745
890,954
1,370,699
233,133
6/1/2012
Jacksonville
FL
-
635,245
1,179,740
-
-
635,245
1,179,740
1,814,985
285,104
12/14/2012
Jacksonville
FL
-
577,368
1,072,255
-
-
577,368
1,072,255
1,649,623
259,128
12/14/2012
Jacksonville
FL
-
774,832
1,438,974
-
-
774,832
1,438,974
2,213,806
347,752
12/14/2012
Jacksonville
FL
-
580,539
1,078,144
-
-
580,539
1,078,144
1,658,683
260,551
12/14/2012
Jacksonville
FL
-
484,992
1,576,223
-
-
484,992
1,576,223
2,061,215
375,666
1/22/2013
Jacksonville
FL
-
284,535
1,119,365
-
-
284,535
1,119,365
1,403,900
240,663
8/22/2013
Jacksonville
FL
-
316,457
1,244,943
-
-
316,457
1,244,943
1,561,400
267,663
8/22/2013
Jacksonville
FL
-
717,739
1,181,877
-
-
717,739
1,181,877
1,899,616
171,061
10/9/2015
Jacksonville
FL
-
501,314
806,878
-
-
501,314
806,878
1,308,192
119,941
10/9/2015
Jasper
FL
-
397,823
738,814
-
-
397,823
738,814
1,136,637
178,547
12/14/2012
Kissimmee
FL
-
283,238
1,114,262
-
-
283,238
1,114,262
1,397,500
239,566
8/22/2013
Kissimmee
FL
-
444,433
1,268,502
-
-
444,433
1,268,502
1,712,935
221,988
8/15/2014
Lake City
FL
-
262,680
1,372,428
-
-
262,680
1,372,428
1,635,108
272,198
1/24/2014
Lake City
FL
-
275,994
1,441,991
-
-
275,994
1,441,991
1,717,985
285,995
1/24/2014
Lakeland
FL
-
342,755
636,546
-
-
342,755
636,546
979,301
166,563
6/1/2012
Lakeland
FL
-
455,575
846,067
-
-
455,575
846,067
1,301,642
204,466
12/14/2012
Lakeland
FL
-
249,452
981,348
-
-
249,452
981,348
1,230,800
210,990
8/22/2013
Largo
FL
-
567,646
1,054,201
-
-
567,646
1,054,201
1,621,847
254,765
12/14/2012
Laurel Hill
FL
-
330,715
1,074,825
-
-
330,715
1,074,825
1,405,540
256,167
1/22/2013
Lawtey
FL
-
186,088
1,240,070
-
-
186,088
1,240,070
1,426,158
245,947
1/24/2014
Lehigh Acres
FL
-
560,116
1,040,215
-
-
560,116
1,040,215
1,600,331
251,385
12/14/2012
Lehigh Acres
FL
-
391,588
1,540,512
-
-
391,588
1,540,512
1,932,100
331,210
8/22/2013
Masaryktown
FL
-
290,081
1,141,181
-
-
290,081
1,141,181
1,431,262
252,962
6/10/2013
Mascotte
FL
-
279,063
1,097,837
-
279,063
1,098,212
1,377,275
236,061
8/22/2013
Miami
FL
-
648,087
1,203,591
-
-
648,087
1,203,591
1,851,678
290,868
12/14/2012
Micco
FL
-
276,043
1,085,957
-
-
276,043
1,085,957
1,362,000
233,481
8/22/2013
Milton
FL
-
150,059
784,013
-
-
150,059
784,013
934,072
155,496
1/24/2014
Milton
FL
-
660,000
1,295,281
-
-
660,000
1,295,281
1,955,281
256,897
1/24/2014
Monticello
FL
-
335,167
1,751,150
-
-
335,167
1,751,150
2,086,317
347,311
1/24/2014
Ocala
FL
-
482,475
896,026
-
-
482,475
896,026
1,378,501
216,540
12/14/2012
Ocala
FL
-
258,877
1,018,423
-
-
258,877
1,018,423
1,277,300
218,961
8/22/2013
Ocala
FL
-
500,472
1,239,053
-
-
500,472
1,239,053
1,739,525
245,746
1/24/2014
Ocala
FL
-
470,580
1,165,046
-
-
470,580
1,165,046
1,635,626
231,068
1/24/2014
Ocklawaha
FL
-
261,265
1,365,037
-
-
261,265
1,365,037
1,626,302
270,732
1/24/2014
Opa Locka
FL
-
665,870
1,236,615
-
-
665,870
1,236,615
1,902,485
323,581
6/1/2012
Orlando
FL
-
351,337
1,382,163
-
-
351,337
1,382,163
1,733,500
297,165
8/22/2013
Orlando
FL
-
401,945
1,560,171
-
-
401,945
1,560,171
1,962,116
221,024
8/22/2013
Pace
FL
-
322,488
798,404
-
-
322,488
798,404
1,120,892
158,350
1/24/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Palatka
FL
-
311,775
1,226,525
-
-
311,775
1,226,525
1,538,300
263,703
8/22/2013
Palm Bay
FL
-
290,940
1,144,560
-
-
290,940
1,144,560
1,435,500
246,080
8/22/2013
Panama City
FL
-
468,060
869,253
-
-
468,060
869,253
1,337,313
210,070
12/14/2012
Panama City
FL
-
462,383
1,144,753
-
-
462,383
1,144,753
1,607,136
227,043
1/24/2014
Panama City
FL
-
486,671
1,204,883
-
-
486,671
1,204,883
1,691,554
238,969
1/24/2014
Pensacola
FL
-
324,665
1,166,541
-
-
324,665
1,166,541
1,491,206
163,912
10/9/2015
Perry
FL
-
244,021
959,979
-
-
244,021
959,979
1,204,000
206,396
8/22/2013
Perry
FL
-
213,916
1,117,652
-
-
213,916
1,117,652
1,331,568
221,668
1/24/2014
Pinellas Park
FL
-
324,807
1,277,793
-
-
324,807
1,277,793
1,602,600
274,726
8/22/2013
Port St Joe
FL
-
950,000
2,678,477
-
-
950,000
2,678,477
3,628,477
531,231
1/31/2014
Punta Gorda
FL
-
544,349
1,347,680
-
-
544,349
1,347,680
1,892,029
267,290
1/24/2014
Riverview
FL
-
318,240
1,251,960
-
-
318,240
1,251,960
1,570,200
269,171
8/22/2013
Riviera Beach
FL
-
395,095
1,554,305
-
-
395,095
1,554,305
1,949,400
334,176
8/22/2013
Rockledge
FL
-
246,149
968,351
-
-
246,149
968,351
1,214,500
208,196
8/22/2013
Saint Cloud
FL
-
403,749
1,588,351
-
-
403,749
1,588,351
1,992,100
341,495
8/22/2013
San Antonio
FL
-
258,167
1,015,633
-
-
258,167
1,015,633
1,273,800
218,361
8/22/2013
San Mateo
FL
-
455,279
1,479,656
-
-
455,279
1,479,656
1,934,935
352,651
1/22/2013
Santa Rosa Beach
FL
-
316,256
1,652,348
-
-
316,256
1,652,348
1,968,604
327,716
1/24/2014
Seminole
FL
-
541,317
1,005,304
-
-
541,317
1,005,304
1,546,621
242,948
12/14/2012
Sneads
FL
-
222,497
875,303
-
-
222,497
875,303
1,097,800
188,190
8/22/2013
Sorrento
FL
-
253,303
996,497
-
-
253,303
996,497
1,249,800
214,247
8/22/2013
South Daytona
FL
-
652,903
1,212,534
-
-
652,903
1,212,534
1,865,437
293,029
12/14/2012
Spring Hill
FL
-
315,224
1,286,099
-
-
315,224
1,286,099
1,601,323
289,372
5/23/2013
Spring Hill
FL
-
314,531
1,237,369
-
-
314,531
1,237,369
1,551,900
266,034
8/22/2013
Tampa
FL
-
559,416
1,038,915
-
-
559,416
1,038,915
1,598,331
271,849
6/1/2012
Tampa
FL
-
552,447
1,025,973
-
-
552,447
1,025,973
1,578,420
268,463
6/1/2012
Tampa
FL
-
549,314
1,020,154
-
-
549,314
1,020,154
1,569,468
246,537
12/14/2012
Tampa
FL
-
611,153
1,134,998
-
-
611,153
1,134,998
1,746,151
274,291
12/14/2012
Tampa
FL
-
634,199
1,177,799
-
-
634,199
1,177,799
1,811,998
284,635
12/14/2012
Tampa
FL
-
378,121
1,228,892
12,109
-
378,121
1,241,001
1,619,122
295,879
1/22/2013
Tavares
FL
-
534,612
1,323,575
-
-
534,612
1,323,575
1,858,187
262,509
1/24/2014
Temple Terrace
FL
-
666,400
1,237,599
-
-
666,400
1,237,599
1,903,999
323,838
6/1/2012
Waldo
FL
-
150,203
1,000,934
-
-
150,203
1,000,934
1,151,137
198,519
1/24/2014
Webster
FL
-
244,703
962,663
22,582
-
244,703
985,245
1,229,948
211,614
8/2/2013
Weirsdale
FL
-
440,625
1,090,885
-
-
440,625
1,090,885
1,531,510
216,359
1/24/2014
Wildwood
FL
-
553,758
1,370,976
-
-
553,758
1,370,976
1,924,734
271,910
1/24/2014
Winter Haven
FL
-
441,079
819,148
-
-
441,079
819,148
1,260,227
214,344
6/1/2012
Winter Haven
FL
-
437,109
811,775
-
-
437,109
811,775
1,248,884
196,179
12/14/2012
Winter Springs
FL
-
336,947
1,325,553
-
-
336,947
1,325,553
1,662,500
284,994
8/22/2013
Yulee
FL
-
331,698
1,304,902
-
-
331,698
1,304,902
1,636,600
280,554
8/22/2013
Zephyrhills
FL
-
304,398
1,197,502
-
-
304,398
1,197,502
1,501,900
257,463
8/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Zolfo Springs
FL
-
420,000
1,144,259
-
-
420,000
1,144,259
1,564,259
226,945
1/24/2014
Athens
GA
-
396,815
982,422
-
-
396,815
982,422
1,379,237
194,847
1/24/2014
Athens
GA
-
352,579
879,136
-
-
352,579
879,136
1,231,715
42,492
10/18/2017
Atlanta
GA
-
368,101
1,045,807
-
-
368,101
1,045,807
1,413,908
210,904
12/4/2013
Atlanta
GA
-
386,653
1,098,516
-
-
386,653
1,098,516
1,485,169
210,549
3/28/2014
Atlanta
GA
-
477,551
1,363,030
-
-
477,551
1,363,030
1,840,581
238,530
8/1/2014
Auburn
GA
-
234,333
921,867
-
-
234,333
921,867
1,156,200
198,201
8/22/2013
Augusta
GA
-
572,784
1,063,741
-
-
572,784
1,063,741
1,636,525
278,346
6/1/2012
Augusta
GA
-
396,046
735,513
-
-
396,046
735,513
1,131,559
177,749
12/14/2012
Augusta
GA
-
244,244
960,856
-
-
244,244
960,856
1,205,100
206,584
8/22/2013
Augusta
GA
-
240,656
946,744
-
-
240,656
946,744
1,187,400
203,550
8/22/2013
Bogart
GA
-
341,583
970,468
-
-
341,583
970,468
1,312,051
195,711
12/4/2013
Brooklet
GA
-
189,211
988,573
-
-
189,211
988,573
1,177,784
196,067
1/24/2014
Brunswick
GA
-
525,784
976,455
-
-
525,784
976,455
1,502,239
235,977
12/14/2012
Brunswick
GA
-
374,722
695,913
-
-
374,722
695,913
1,070,635
168,179
12/14/2012
Carrollton
GA
-
184,110
724,290
-
-
184,110
724,290
908,400
155,722
8/22/2013
Carrollton
GA
-
266,882
1,049,918
-
-
266,882
1,049,918
1,316,800
225,732
8/22/2013
Collins
GA
-
120,219
876,179
-
-
120,219
876,179
996,398
173,776
1/31/2014
Conyers
GA
-
737,753
1,370,114
-
-
737,753
1,370,114
2,107,867
358,513
6/1/2012
Dalton
GA
-
401,120
748,837
-
-
401,120
748,837
1,149,957
148,519
1/24/2014
Dawson
GA
-
413,732
768,359
-
-
413,732
768,359
1,182,091
185,687
12/14/2012
Dewy Rose
GA
-
190,003
747,472
-
-
190,003
747,472
937,475
160,706
8/20/2013
Dexter
GA
-
58,236
424,437
22,815
-
58,236
447,252
505,488
99,471
12/20/2013
Dublin
GA
-
208,680
1,008,938
-
-
208,680
1,008,938
1,217,618
200,106
1/31/2014
Elberton
GA
-
194,222
764,071
-
-
194,222
764,071
958,293
164,275
8/20/2013
Forest Park
GA
-
288,001
1,132,999
-
-
288,001
1,132,999
1,421,000
243,595
8/22/2013
Glennville
GA
-
245,706
966,610
-
-
245,706
966,610
1,212,316
211,043
7/3/2013
Gordon
GA
-
179,124
704,676
-
-
179,124
704,676
883,800
151,505
8/22/2013
Greenville
GA
-
170,000
880,648
-
-
170,000
880,648
1,050,648
174,662
1/24/2014
Hartwell
GA
-
222,699
876,101
-
-
222,699
876,101
1,098,800
188,362
8/22/2013
Hoschton
GA
-
312,038
1,227,562
-
-
312,038
1,227,562
1,539,600
263,926
8/22/2013
Irwinton
GA
-
331,310
1,076,757
-
-
331,310
1,076,757
1,408,067
256,627
1/22/2013
Jonesboro
GA
-
316,862
1,246,538
-
-
316,862
1,246,538
1,563,400
268,006
8/22/2013
LaGrange
GA
-
270,000
831,559
-
-
270,000
831,559
1,101,559
164,926
1/31/2014
Lilburn
GA
-
323,652
1,273,248
-
-
323,652
1,273,248
1,596,900
273,748
8/22/2013
Ludowici
GA
-
344,543
1,119,765
12,235
-
344,543
1,132,000
1,476,543
276,537
1/22/2013
Macon
GA
-
245,825
967,075
-
-
245,825
967,075
1,212,900
207,921
8/22/2013
Marietta
GA
-
289,116
1,137,384
-
-
289,116
1,137,384
1,426,500
244,538
8/22/2013
Midway
GA
-
243,028
956,072
-
-
243,028
956,072
1,199,100
205,556
8/22/2013
Milledgeville
GA
-
245,290
696,890
-
-
245,290
696,890
942,180
138,217
1/31/2014
Monticello
GA
-
146,301
1,066,274
-
-
146,301
1,066,274
1,212,575
204,369
3/28/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Nicholls
GA
-
198,723
781,777
-
-
198,723
781,777
980,500
168,082
8/22/2013
Pooler
GA
-
279,935
1,101,265
-
-
279,935
1,101,265
1,381,200
236,772
8/22/2013
Powder Springs
GA
-
290,373
1,142,327
-
-
290,373
1,142,327
1,432,700
245,600
8/22/2013
Resaca
GA
-
600,000
2,830,403
-
-
600,000
2,830,403
3,430,403
561,363
1/31/2014
Richmond Hill
GA
-
297,203
1,169,197
-
-
297,203
1,169,197
1,466,400
251,377
8/22/2013
Savannah
GA
-
450,992
1,774,208
-
-
450,992
1,774,208
2,225,200
381,455
8/22/2013
Screven
GA
-
198,288
780,067
-
-
198,288
780,067
978,355
167,714
8/8/2013
Stockbridge
GA
-
348,721
863,351
-
-
348,721
863,351
1,212,072
171,231
1/24/2014
Talbotton
GA
-
128,449
855,969
-
-
128,449
855,969
984,418
169,767
1/24/2014
Thomasville
GA
-
407,954
757,629
-
-
407,954
757,629
1,165,583
183,094
12/14/2012
Tifton
GA
-
202,011
824,197
-
-
202,011
824,197
1,026,208
185,444
5/23/2013
Uvalda
GA
-
187,576
737,924
-
-
187,576
737,924
925,500
158,654
8/22/2013
Vienna
GA
-
340,000
2,529,310
-
-
340,000
2,529,310
2,869,310
501,646
1/31/2014
Warrenton
GA
-
298,668
554,669
-
-
298,668
554,669
853,337
134,045
12/14/2012
Waycross
GA
-
417,843
775,994
-
-
417,843
775,994
1,193,837
187,532
12/14/2012
Waynesville
GA
-
132,112
880,378
-
-
132,112
880,378
1,012,490
174,608
1/24/2014
Whigham
GA
-
123,430
822,527
-
-
123,430
822,527
945,957
163,134
1/24/2014
Wrightsville
GA
-
274,254
509,328
-
-
274,254
509,328
783,582
123,088
12/14/2012
Wrightsville
GA
-
166,239
868,552
-
-
166,239
868,552
1,034,791
172,263
1/24/2014
Des Moines
IA
-
455,336
845,625
-
-
455,336
845,625
1,300,961
221,272
6/1/2012
Des Moines
IA
-
214,167
842,533
-
-
214,167
842,533
1,056,700
181,145
8/22/2013
Mason City
IA
-
242,135
449,678
-
-
242,135
449,678
691,813
117,666
6/1/2012
Montrose
IA
-
307,533
999,483
-
-
307,533
999,483
1,307,016
238,210
1/22/2013
Waterloo
IA
-
366,422
1,190,872
-
-
366,422
1,190,872
1,557,294
283,824
1/22/2013
Calumet City
IL
-
561,828
1,043,394
-
-
561,828
1,043,394
1,605,222
273,021
6/1/2012
Catlin
IL
-
373,096
1,212,561
-
-
373,096
1,212,561
1,585,657
288,994
1/22/2013
Cerro Gordo
IL
-
312,718
1,016,334
-
-
312,718
1,016,334
1,329,052
242,226
1/22/2013
Columbia
IL
-
383,895
1,247,660
-
-
383,895
1,247,660
1,631,555
297,359
1/22/2013
Dwight
IL
-
355,224
659,701
-
-
355,224
659,701
1,014,925
159,428
12/14/2012
East Saint Louis
IL
-
564,367
1,048,111
-
-
564,367
1,048,111
1,612,478
253,293
12/14/2012
Farina
IL
-
161,831
1,078,428
-
-
161,831
1,078,428
1,240,259
213,888
1/24/2014
Galesburg
IL
-
325,959
605,353
-
-
325,959
605,353
931,312
158,401
6/1/2012
Gillespie
IL
-
346,508
1,126,153
-
-
346,508
1,126,153
1,472,661
268,400
1/22/2013
Goreville
IL
-
175,538
690,566
-
-
175,538
690,566
866,104
146,170
9/13/2013
Harvey
IL
-
356,530
662,127
-
-
356,530
662,127
1,018,657
160,014
12/14/2012
Joliet
IL
-
396,961
737,212
-
-
396,961
737,212
1,134,173
178,160
12/14/2012
La Salle
IL
-
457,726
1,487,609
-
-
457,726
1,487,609
1,945,335
354,547
1/22/2013
Marseilles
IL
-
364,551
1,184,791
-
-
364,551
1,184,791
1,549,342
282,375
1/22/2013
Metropolis
IL
-
522,911
971,120
-
-
522,911
971,120
1,494,031
234,687
12/14/2012
Mount Zion
IL
-
344,938
1,121,050
1,723
-
344,938
1,122,773
1,467,711
268,242
1/22/2013
Peoria
IL
-
378,198
702,367
-
-
378,198
702,367
1,080,565
183,786
6/1/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Quincy
IL
-
351,325
869,798
-
-
351,325
869,798
1,221,123
172,510
1/24/2014
Virden
IL
-
546,679
1,015,261
-
-
546,679
1,015,261
1,561,940
245,355
12/14/2012
Anderson
IN
-
634,963
1,179,216
-
-
634,963
1,179,216
1,814,179
284,977
12/14/2012
Anderson
IN
-
335,312
830,155
-
-
335,312
830,155
1,165,467
164,647
1/24/2014
Indianapolis
IN
-
454,789
844,607
-
-
454,789
844,607
1,299,396
221,006
6/1/2012
Muncie
IN
-
347,731
860,902
-
-
347,731
860,902
1,208,633
170,745
1/24/2014
Muncie
IN
-
327,861
811,707
-
-
327,861
811,707
1,139,568
160,989
1/24/2014
New Albany
IN
-
437,343
812,209
-
-
437,343
812,209
1,249,552
196,284
12/14/2012
New Carlisle
IN
-
210,347
1,099,005
-
-
210,347
1,099,005
1,309,352
217,969
1/24/2014
Oxford
IN
-
60,000
940,000
-
-
60,000
940,000
1,000,000
186,433
1/24/2014
Parker City
IN
-
266,530
494,983
-
-
266,530
494,983
761,513
129,521
6/1/2012
Rockport
IN
-
203,782
378,451
-
-
203,782
378,451
582,233
91,459
12/14/2012
South Bend
IN
-
507,845
943,140
-
-
507,845
943,140
1,450,985
227,926
12/14/2012
Arma
KS
-
170,875
793,860
-
-
170,875
793,860
964,735
202,434
8/30/2012
Basehor
KS
-
171,627
872,548
-
-
171,627
872,548
1,044,175
222,500
8/30/2012
Burlington
KS
-
173,930
806,439
-
-
173,930
806,439
980,369
205,642
8/30/2012
Cheney
KS
-
161,300
770,354
-
-
161,300
770,354
931,654
196,440
8/30/2012
Cherryvale
KS
-
90,248
811,836
-
-
90,248
811,836
902,084
207,018
8/30/2012
Coffeyville
KS
-
519,254
964,328
-
-
519,254
964,328
1,483,582
233,046
12/14/2012
Edwardsville
KS
-
161,785
906,004
-
-
161,785
906,004
1,067,789
231,031
8/30/2012
Elkhart
KS
-
119,882
848,233
-
-
119,882
848,233
968,115
216,299
8/30/2012
Elwood
KS
-
273,826
677,929
-
-
273,826
677,929
951,755
134,456
1/24/2014
Fort Scott
KS
-
486,062
752,183
-
-
486,062
752,183
1,238,245
186,792
10/31/2012
Fredonia
KS
-
412,134
637,779
-
-
412,134
637,779
1,049,913
158,382
10/31/2012
Galena
KS
-
419,578
649,300
-
-
419,578
649,300
1,068,878
161,243
10/31/2012
Girard
KS
-
129,389
862,237
-
-
129,389
862,237
991,626
171,010
1/24/2014
Great Bend
KS
-
190,000
886,627
-
-
190,000
886,627
1,076,627
107,873
12/15/2015
Herington
KS
-
200,000
1,101,329
-
-
200,000
1,101,329
1,301,329
133,995
12/15/2015
Horton
KS
-
101,571
844,142
-
-
101,571
844,142
945,713
215,256
8/30/2012
Hoxie
KS
-
393,962
609,658
-
-
393,962
609,658
1,003,620
151,398
10/31/2012
Independence
KS
-
370,000
671,122
-
-
370,000
671,122
1,041,122
166,662
10/31/2012
Kansas City
KS
-
577,037
1,071,640
-
-
577,037
1,071,640
1,648,677
280,412
6/1/2012
Kansas City
KS
-
140,147
922,934
-
-
140,147
922,934
1,063,081
235,348
8/30/2012
Kansas City
KS
-
147,689
581,011
-
-
147,689
581,011
728,700
124,917
8/22/2013
Kinsley
KS
-
130,454
741,227
-
-
130,454
741,227
871,681
16,060
6/28/2018
Lawrence
KS
-
236,948
965,247
-
-
236,948
965,247
1,202,195
246,138
8/30/2012
Leavenworth
KS
-
430,140
665,644
-
-
430,140
665,644
1,095,784
165,302
10/31/2012
Liberal
KS
-
394,833
611,006
-
-
394,833
611,006
1,005,839
151,733
10/31/2012
Lyndon
KS
-
100,642
822,510
-
-
100,642
822,510
923,152
209,740
8/30/2012
Neodesha
KS
-
124,388
867,203
-
-
124,388
867,203
991,591
221,137
8/30/2012
Newton
KS
-
110,986
873,540
-
-
110,986
873,540
984,526
222,753
8/30/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Norton
KS
-
142,749,000
951,265,000
-
-
142,749,000
951,265,000
1,094,014,000
188,668,000
1/24/2014
Oskaloosa
KS
-
152,298,000
1,014,896,000
-
-
152,298,000
1,014,896,000
1,167,194,000
201,288,000
1/24/2014
Phillipsburg
KS
-
146,172,000
974,073,000
-
-
146,172,000
974,073,000
1,120,245,000
193,191,000
1/24/2014
Salina
KS
-
194,508,000
889,894,000
-
-
194,508,000
889,894,000
1,084,402,000
226,923,000
8/30/2012
Topeka
KS
-
395,822,000
612,536,000
-
-
395,822,000
612,536,000
1,008,358,000
152,113,000
10/31/2012
Wakeeney
KS
-
124,960,000
832,723,000
-
-
124,960,000
832,723,000
957,683,000
165,157,000
1/24/2014
Washington
KS
-
81,586,000
828,885,000
-
-
81,586,000
828,885,000
910,471,000
211,366,000
8/30/2012
Wichita
KS
-
533,216,000
825,154,000
-
-
533,216,000
825,154,000
1,358,370,000
204,913,000
10/31/2012
Wichita
KS
-
530,000,000
901,373,000
-
-
530,000,000
901,373,000
1,431,373,000
223,841,000
10/31/2012
Wichita
KS
-
625,585,000
968,095,000
-
-
625,585,000
968,095,000
1,593,680,000
240,410,000
10/31/2012
Wichita
KS
-
541,521,000
838,007,000
-
-
541,521,000
838,007,000
1,379,528,000
208,105,000
10/31/2012
Wichita
KS
-
498,745,000
771,810,000
-
-
498,745,000
771,810,000
1,270,555,000
191,666,000
10/31/2012
Benton
KY
-
132,553,000
883,318,000
-
-
132,553,000
883,318,000
1,015,871,000
175,191,000
1/24/2014
Bronston
KY
-
297,256,000
966,082,000
-
-
297,256,000
966,082,000
1,263,338,000
230,249,000
1/22/2013
Corydon
KY
-
161,985,000
766,073,000
-
-
161,985,000
766,073,000
928,058,000
151,938,000
1/24/2014
Dayton
KY
-
141,508,000
508,446,000
-
-
141,508,000
508,446,000
649,954,000
71,442,000
10/9/2015
Dorton
KY
-
283,556,000
921,558,000
-
-
283,556,000
921,558,000
1,205,114,000
219,638,000
1/22/2013
Fordsville
KY
-
130,000,000
785,971,000
-
-
130,000,000
785,971,000
915,971,000
155,884,000
1/24/2014
Ledbetter
KY
-
100,000,000
771,540,000
-
-
100,000,000
771,540,000
871,540,000
153,022,000
1/24/2014
Louisville
KY
-
499,759,000
928,124,000
-
-
499,759,000
928,124,000
1,427,883,000
224,297,000
12/14/2012
Louisville
KY
-
265,221,000
1,043,379,000
-
-
265,221,000
1,043,379,000
1,308,600,000
224,327,000
8/22/2013
Louisville
KY
-
251,195,000
988,205,000
-
-
251,195,000
988,205,000
1,239,400,000
212,464,000
8/22/2013
Louisville
KY
-
456,605,000
1,297,257,000
-
-
456,605,000
1,297,257,000
1,753,862,000
270,262,000
10/11/2013
Louisville
KY
-
409,904,000
1,164,574,000
-
-
409,904,000
1,164,574,000
1,574,478,000
215,446,000
5/28/2014
Louisville
KY
-
443,889,000
1,106,813,000
-
-
443,889,000
1,106,813,000
1,550,702,000
46,117,000
12/28/2017
Mount Vernon
KY
-
470,619,000
874,008,000
-
-
470,619,000
874,008,000
1,344,627,000
211,219,000
12/14/2012
Paducah
KY
-
200,750,000
789,750,000
-
-
200,750,000
789,750,000
990,500,000
169,796,000
8/22/2013
Prestonsburg
KY
-
223,906,000
1,082,554,000
-
-
223,906,000
1,082,554,000
1,306,460,000
225,532,000
10/11/2013
Providence
KY
-
199,919,000
786,481,000
-
-
199,919,000
786,481,000
986,400,000
169,093,000
8/22/2013
Radcliff
KY
-
280,806,000
1,104,694,000
-
-
280,806,000
1,104,694,000
1,385,500,000
237,509,000
8/22/2013
Sacramento
KY
-
113,547,000
756,668,000
-
-
113,547,000
756,668,000
870,215,000
150,073,000
1/24/2014
Somerset
KY
-
456,467,000
847,725,000
-
-
456,467,000
847,725,000
1,304,192,000
221,821,000
6/1/2012
Somerset
KY
-
330,419,000
818,041,000
-
-
330,419,000
818,041,000
1,148,460,000
162,245,000
1/24/2014
Verona
KY
-
165,991,000
939,720,000
-
-
165,991,000
939,720,000
1,105,711,000
39,155,000
12/28/2017
Wingo
KY
-
106,789,000
711,629,000
-
-
106,789,000
711,629,000
818,418,000
141,140,000
1/24/2014
Abbeville
LA
-
386,990,000
1,257,716,000
-
-
386,990,000
1,257,716,000
1,644,706,000
299,756,000
1/22/2013
Bastrop
LA
-
179,126,000
935,881,000
-
-
179,126,000
935,881,000
1,115,007,000
185,616,000
1/24/2014
Baton Rouge
LA
-
563,114,000
1,045,783,000
-
-
563,114,000
1,045,783,000
1,608,897,000
273,647,000
6/1/2012
Baton Rouge
LA
-
433,213,000
804,539,000
-
-
433,213,000
804,539,000
1,237,752,000
194,430,000
12/14/2012
Baton Rouge
LA
-
279,327,000
1,098,873,000
-
-
279,327,000
1,098,873,000
1,378,200,000
236,258,000
8/22/2013
Baton Rouge
LA
-
188,485,000
535,504,000
36,332,000
-
188,485,000
571,836,000
760,321,000
118,143,000
12/20/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Baton Rouge
LA
-
342,664,000
848,357,000
-
-
342,664,000
848,357,000
1,191,021,000
168,258,000
1/24/2014
Baton Rouge
LA
-
422,535,000
1,046,098,000
-
-
422,535,000
1,046,098,000
1,468,633,000
207,476,000
1/24/2014
Blanchard
LA
-
177,898,000
860,109,000
125,262,000
-
177,898,000
985,371,000
1,163,269,000
195,804,000
12/20/2013
Colfax
LA
-
148,313,000
583,465,000
-
-
148,313,000
583,465,000
731,778,000
125,445,000
8/21/2013
Deridder
LA
-
250,446,000
985,254,000
-
-
250,446,000
985,254,000
1,235,700,000
211,830,000
8/22/2013
Dixie Inn
LA
-
318,870,000
592,187,000
-
-
318,870,000
592,187,000
911,057,000
143,112,000
12/14/2012
Duson
LA
-
355,640,000
1,155,831,000
-
-
355,640,000
1,155,831,000
1,511,471,000
275,473,000
1/22/2013
Florien
LA
-
323,203,000
1,050,409,000
-
-
323,203,000
1,050,409,000
1,373,612,000
250,347,000
1/22/2013
Franklinton
LA
-
150,109,000
1,000,309,000
-
-
150,109,000
1,000,309,000
1,150,418,000
198,395,000
1/24/2014
Geismar
LA
-
489,660,000
909,368,000
-
-
489,660,000
909,368,000
1,399,028,000
219,764,000
12/14/2012
Gretna
LA
-
880,000,000
839,022,000
-
-
880,000,000
839,022,000
1,719,022,000
166,406,000
1/24/2014
Hammond
LA
-
417,284,000
774,955,000
-
-
417,284,000
774,955,000
1,192,239,000
202,780,000
6/1/2012
Lafayette
LA
-
402,767,000
1,308,994,000
-
-
402,767,000
1,308,994,000
1,711,761,000
311,977,000
1/22/2013
Lafayette
LA
-
262,452,000
745,651,000
31,902,000
-
262,452,000
777,553,000
1,040,005,000
166,985,000
12/20/2013
Lafitte
LA
-
259,861,000
1,228,959,000
-
-
259,861,000
1,228,959,000
1,488,820,000
243,744,000
1/24/2014
Logansport
LA
-
494,202,000
917,805,000
-
-
494,202,000
917,805,000
1,412,007,000
221,803,000
12/14/2012
Many
LA
-
199,395,000
1,041,784,000
-
-
199,395,000
1,041,784,000
1,241,179,000
206,621,000
1/24/2014
Melville
LA
-
367,000,000
1,192,748,000
-
-
367,000,000
1,192,748,000
1,559,748,000
284,272,000
1/22/2013
Minden
LA
-
339,679,000
630,832,000
-
-
339,679,000
630,832,000
970,511,000
165,068,000
6/1/2012
Monroe
LA
-
667,232,000
1,073,926,000
-
-
667,232,000
1,073,926,000
1,741,158,000
159,638,000
10/9/2015
Moreauville
LA
-
186,423,000
974,008,000
-
-
186,423,000
974,008,000
1,160,431,000
193,178,000
1/24/2014
Morse
LA
-
352,771,000
1,146,506,000
-
-
352,771,000
1,146,506,000
1,499,277,000
273,251,000
1/22/2013
Natchitoches
LA
-
250,162,000
984,138,000
-
-
250,162,000
984,138,000
1,234,300,000
211,590,000
8/22/2013
Opelousas
LA
-
350,277,000
1,138,401,000
-
-
350,277,000
1,138,401,000
1,488,678,000
271,319,000
1/22/2013
Opelousas
LA
-
365,368,000
1,187,446,000
-
-
365,368,000
1,187,446,000
1,552,814,000
283,008,000
1/22/2013
Port Vincent
LA
-
398,039,000
1,293,627,000
-
-
398,039,000
1,293,627,000
1,691,666,000
308,314,000
1/22/2013
Robeline
LA
-
329,964,000
1,072,382,000
-
-
329,964,000
1,072,382,000
1,402,346,000
255,584,000
1/22/2013
Saint Bernard
LA
-
447,884,000
831,784,000
-
-
447,884,000
831,784,000
1,279,668,000
217,650,000
6/1/2012
Shreveport
LA
-
605,336,000
1,124,196,000
-
-
605,336,000
1,124,196,000
1,729,532,000
294,165,000
6/1/2012
Shreveport
LA
-
719,595,000
1,336,390,000
-
-
719,595,000
1,336,390,000
2,055,985,000
322,961,000
12/14/2012
Sibley
LA
-
180,316,000
942,101,000
-
-
180,316,000
942,101,000
1,122,417,000
186,850,000
1/24/2014
Tallulah
LA
-
287,313,000
473,108,000
-
-
287,313,000
473,108,000
760,421,000
68,476,000
10/9/2015
Violet
LA
-
342,764,000
848,603,000
-
-
342,764,000
848,603,000
1,191,367,000
168,306,000
1/24/2014
West Monroe
LA
-
362,591,000
1,178,420,000
-
-
362,591,000
1,178,420,000
1,541,011,000
280,857,000
1/22/2013
West Monroe
LA
-
262,241,000
1,031,659,000
-
-
262,241,000
1,031,659,000
1,293,900,000
221,807,000
8/22/2013
West Monroe
LA
-
160,000,000
755,108,000
-
-
160,000,000
755,108,000
915,108,000
149,763,000
1/24/2014
Pittsfield
MA
-
350,000,000
1,195,114,000
-
-
350,000,000
1,195,114,000
1,545,114,000
145,406,000
12/15/2015
Clinton
ME
-
182,737,000
1,038,299,000
-
-
182,737,000
1,038,299,000
1,221,036,000
22,497,000
6/28/2018
Glenburn
ME
-
183,500,000
1,038,843,000
-
-
183,500,000
1,038,843,000
1,222,343,000
22,508,000
6/28/2018
West Enfield
ME
-
183,843,000
1,044,581,000
-
-
183,843,000
1,044,581,000
1,228,424,000
22,633,000
6/28/2018
Alanson
MI
-
314,390,000
1,021,767,000
5,337,000
-
314,390,000
1,027,104,000
1,341,494,000
244,355,000
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Bangor
MI
-
513,772,000
954,149,000
-
-
513,772,000
954,149,000
1,467,921,000
249,669,000
6/1/2012
Battle Creek
MI
-
438,869,000
815,042,000
-
-
438,869,000
815,042,000
1,253,911,000
213,269,000
6/1/2012
Beaverton
MI
-
242,135,000
449,678,000
-
-
242,135,000
449,678,000
691,813,000
117,666,000
6/1/2012
Brockway
MI
-
248,856,000
462,160,000
-
-
248,856,000
462,160,000
711,016,000
120,932,000
6/1/2012
Buckley
MI
-
296,289,000
962,940,000
-
-
296,289,000
962,940,000
1,259,229,000
229,501,000
1/22/2013
Central Lake
MI
-
158,168,000
898,700,000
-
-
158,168,000
898,700,000
1,056,868,000
10,485,000
9/28/2018
Clinton
MI
-
326,088,000
1,059,786,000
-
-
326,088,000
1,059,786,000
1,385,874,000
252,582,000
1/22/2013
Copemish
MI
-
292,975,000
952,167,000
-
-
292,975,000
952,167,000
1,245,142,000
226,933,000
1/22/2013
Croswell
MI
-
387,461,000
719,571,000
-
-
387,461,000
719,571,000
1,107,032,000
188,288,000
6/1/2012
Dearborn
MI
-
522,650,000
970,637,000
-
-
522,650,000
970,637,000
1,493,287,000
253,983,000
6/1/2012
Detroit
MI
-
264,876,000
860,847,000
50,158,000
-
264,876,000
911,005,000
1,175,881,000
213,347,000
1/22/2013
Dowagiac
MI
-
90,226,000
937,911,000
-
-
90,226,000
937,911,000
1,028,137,000
4,690,000
11/9/2018
Farmington
MI
-
325,172,000
1,279,228,000
-
-
325,172,000
1,279,228,000
1,604,400,000
275,034,000
8/22/2013
Flat Rock
MI
-
264,268,000
1,039,632,000
-
-
264,268,000
1,039,632,000
1,303,900,000
223,521,000
8/22/2013
Flint
MI
-
510,751,000
948,537,000
-
-
510,751,000
948,537,000
1,459,288,000
248,201,000
6/1/2012
Flushing
MI
-
65,840,000
1,063,790,000
-
-
65,840,000
1,063,790,000
1,129,630,000
12,411,000
9/28/2018
Gladwin
MI
-
265,925,000
864,258,000
-
-
265,925,000
864,258,000
1,130,183,000
205,981,000
1/22/2013
Grand Rapids
MI
-
526,567,000
977,911,000
-
-
526,567,000
977,911,000
1,504,478,000
236,328,000
12/14/2012
Grand Rapids
MI
-
225,609,000
363,123,000
-
-
225,609,000
363,123,000
588,732,000
53,978,000
10/9/2015
Jackson
MI
-
473,329,000
879,039,000
-
-
473,329,000
879,039,000
1,352,368,000
230,015,000
6/1/2012
Jackson
MI
-
592,388,000
1,100,149,000
-
-
592,388,000
1,100,149,000
1,692,537,000
265,869,000
12/14/2012
Kingston
MI
-
36,203,000
975,668,000
-
-
36,203,000
975,668,000
1,011,871,000
11,383,000
9/28/2018
Lake
MI
-
81,238,000
941,459,000
-
-
81,238,000
941,459,000
1,022,697,000
17,260,000
7/24/2018
Lake George
MI
-
99,691,000
928,032,000
-
-
99,691,000
928,032,000
1,027,723,000
17,014,000
7/24/2018
Lansing
MI
-
111,020,000
1,047,287,000
-
-
111,020,000
1,047,287,000
1,158,307,000
12,218,000
9/28/2018
Leroy
MI
-
159,463,000
906,056,000
-
-
159,463,000
906,056,000
1,065,519,000
16,611,000
7/24/2018
Litchfield
MI
-
314,519,000
1,022,185,000
-
-
314,519,000
1,022,185,000
1,336,704,000
243,621,000
1/22/2013
Mancelona
MI
-
294,344,000
956,617,000
-
-
294,344,000
956,617,000
1,250,961,000
227,994,000
1/22/2013
Marion
MI
-
354,869,000
659,042,000
-
-
354,869,000
659,042,000
1,013,911,000
159,268,000
12/14/2012
Martin
MI
-
163,335,000
924,685,000
-
-
163,335,000
924,685,000
1,088,020,000
10,788,000
9/28/2018
Millington
MI
-
102,563,000
1,066,157,000
-
-
102,563,000
1,066,157,000
1,168,720,000
5,331,000
11/9/2018
Muskegon
MI
-
318,001,000
1,033,502,000
-
-
318,001,000
1,033,502,000
1,351,503,000
246,318,000
1/22/2013
New Baltimore
MI
-
237,040,000
932,516,000
375,000
-
237,040,000
932,891,000
1,169,931,000
206,732,000
6/25/2013
Onaway
MI
-
510,098,000
947,326,000
-
-
510,098,000
947,326,000
1,457,424,000
228,937,000
12/14/2012
Pinckney
MI
-
305,815,000
993,898,000
-
-
305,815,000
993,898,000
1,299,713,000
236,879,000
1/22/2013
Pullman
MI
-
86,057,000
981,911,000
-
-
86,057,000
981,911,000
1,067,968,000
18,002,000
7/24/2018
Reading
MI
-
27,011,000
974,211,000
-
-
27,011,000
974,211,000
1,001,222,000
17,861,000
7/24/2018
Romulus
MI
-
578,474,000
1,074,310,000
-
-
578,474,000
1,074,310,000
1,652,784,000
281,111,000
6/1/2012
Rothbury
MI
-
149,840,000
848,287,000
-
-
149,840,000
848,287,000
998,127,000
15,552,000
7/24/2018
Sheridan
MI
-
307,737,000
1,000,144,000
-
-
307,737,000
1,000,144,000
1,307,881,000
238,368,000
1/22/2013
Spring Arbor
MI
-
325,553,000
1,058,048,000
-
-
325,553,000
1,058,048,000
1,383,601,000
252,168,000
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
St John's
MI
-
324,325,000
1,054,055,000
-
-
324,325,000
1,054,055,000
1,378,380,000
251,217,000
1/22/2013
Tekonsha
MI
-
269,258,000
875,089,000
-
-
269,258,000
875,089,000
1,144,347,000
208,563,000
1/22/2013
Union
MI
-
146,104,000
827,136,000
-
-
146,104,000
827,136,000
973,240,000
9,650,000
9/28/2018
Weidman
MI
-
161,027,000
911,621,000
-
-
161,027,000
911,621,000
1,072,648,000
16,713,000
7/24/2018
Wellston
MI
-
270,942,000
880,562,000
-
-
270,942,000
880,562,000
1,151,504,000
209,867,000
1/22/2013
Advance
MO
-
327,985,000
1,065,951,000
-
-
327,985,000
1,065,951,000
1,393,936,000
254,052,000
1/22/2013
Bonne Terre
MO
-
254,437,000
826,921,000
-
-
254,437,000
826,921,000
1,081,358,000
197,083,000
1/22/2013
Buckner
MO
-
188,702,000
985,916,000
-
-
188,702,000
985,916,000
1,174,618,000
195,540,000
1/24/2014
Cole Camp
MO
-
296,537,000
963,746,000
-
-
296,537,000
963,746,000
1,260,283,000
229,693,000
1/22/2013
Crocker
MO
-
139,188,000
927,532,000
-
-
139,188,000
927,532,000
1,066,720,000
183,960,000
1/24/2014
Garden City
MO
-
139,163,000
927,369,000
-
-
139,163,000
927,369,000
1,066,532,000
183,928,000
1/24/2014
Jackson
MO
-
396,040,000
1,287,131,000
-
-
396,040,000
1,287,131,000
1,683,171,000
306,766,000
1/22/2013
Jackson
MO
-
201,264,000
791,776,000
8,228,000
-
201,264,000
800,004,000
1,001,268,000
169,735,000
9/13/2013
Kansas City
MO
-
443,895,000
824,377,000
-
-
443,895,000
824,377,000
1,268,272,000
215,712,000
6/1/2012
Kansas City
MO
-
557,439,000
1,035,244,000
-
-
557,439,000
1,035,244,000
1,592,683,000
270,889,000
6/1/2012
Kansas City
MO
-
414,347,000
641,204,000
-
-
414,347,000
641,204,000
1,055,551,000
159,232,000
10/31/2012
Kansas City
MO
-
277,016,000
995,336,000
-
-
277,016,000
995,336,000
1,272,352,000
139,856,000
10/9/2015
Louisiana
MO
-
186,741,000
734,640,000
-
-
186,741,000
734,640,000
921,381,000
162,845,000
6/28/2013
Mansfield
MO
-
152,932,000
1,019,125,000
-
-
152,932,000
1,019,125,000
1,172,057,000
202,126,000
1/24/2014
Oronogo
MO
-
327,756,000
1,065,207,000
-
-
327,756,000
1,065,207,000
1,392,963,000
253,874,000
1/22/2013
Queen City
MO
-
309,915,000
1,007,222,000
-
-
309,915,000
1,007,222,000
1,317,137,000
240,055,000
1/22/2013
Richland
MO
-
137,522,000
916,435,000
-
-
137,522,000
916,435,000
1,053,957,000
181,759,000
1/24/2014
Rolla
MO
-
340,000,000
899,367,000
-
-
340,000,000
899,367,000
1,239,367,000
178,374,000
1/24/2014
Russellville
MO
-
122,033,000
813,218,000
-
-
122,033,000
813,218,000
935,251,000
161,288,000
1/24/2014
Sikeston
MO
-
409,114,000
2,005,416,000
10,129,000
2,579,000
409,114,000
2,018,124,000
2,427,238,000
1,363,003,000
1/24/2002
St. Louis
MO
-
647,256,000
1,202,046,000
-
-
647,256,000
1,202,046,000
1,849,302,000
314,535,000
6/1/2012
Unionville
MO
-
324,616,000
1,055,004,000
-
-
324,616,000
1,055,004,000
1,379,620,000
251,443,000
1/22/2013
Amory
MS
-
191,439,000
1,000,215,000
-
-
191,439,000
1,000,215,000
1,191,654,000
198,376,000
1/24/2014
Belzoni
MS
-
222,063,000
873,597,000
-
-
222,063,000
873,597,000
1,095,660,000
190,735,000
7/24/2013
Brookhaven
MS
-
198,152,000
779,533,000
-
-
198,152,000
779,533,000
977,685,000
165,001,000
9/30/2013
Brooksville
MS
-
114,899,000
765,676,000
-
-
114,899,000
765,676,000
880,575,000
151,859,000
1/24/2014
Canton
MS
-
960,000,000
2,510,516,000
-
-
960,000,000
2,510,516,000
3,470,516,000
497,919,000
1/31/2014
Carriere
MS
-
170,633,000
966,000,000
-
-
170,633,000
966,000,000
1,136,633,000
11,270,000
9/28/2018
Carriere
MS
-
168,809,000
959,157,000
-
-
168,809,000
959,157,000
1,127,966,000
11,190,000
9/28/2018
Coldwater
MS
-
169,202,000
884,035,000
-
-
169,202,000
884,035,000
1,053,237,000
175,334,000
1/24/2014
Crenshaw
MS
-
129,543,000
863,263,000
-
-
129,543,000
863,263,000
992,806,000
171,214,000
1/24/2014
Durant
MS
-
259,403,000
1,020,492,000
-
-
259,403,000
1,020,492,000
1,279,895,000
226,209,000
6/26/2013
Fayette
MS
-
120,531,000
803,210,000
-
-
120,531,000
803,210,000
923,741,000
159,303,000
1/24/2014
Fulton
MS
-
192,188,000
1,004,128,000
-
-
192,188,000
1,004,128,000
1,196,316,000
199,152,000
1/24/2014
Hickory Flat
MS
-
132,720,000
884,431,000
-
-
132,720,000
884,431,000
1,017,151,000
175,412,000
1/24/2014
Horn Lake
MS
-
369,539,000
914,893,000
-
-
369,539,000
914,893,000
1,284,432,000
181,454,000
1/24/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Iuka
MS
-
161,047,000
841,427,000
-
-
161,047,000
841,427,000
1,002,474,000
166,883,000
1/24/2014
Jackson
MS
-
465,674,000
864,824,000
-
-
465,674,000
864,824,000
1,330,498,000
226,296,000
6/1/2012
Jackson
MS
-
668,518,000
1,241,534,000
-
-
668,518,000
1,241,534,000
1,910,052,000
324,868,000
6/1/2012
Jackson
MS
-
219,884,000
865,026,000
-
-
219,884,000
865,026,000
1,084,910,000
191,747,000
6/6/2013
Jackson
MS
-
234,313,000
921,789,000
-
-
234,313,000
921,789,000
1,156,102,000
204,330,000
6/26/2013
Jackson
MS
-
218,911,000
861,196,000
-
-
218,911,000
861,196,000
1,080,107,000
185,157,000
8/22/2013
Jackson
MS
-
220,000,000
807,338,000
-
-
220,000,000
807,338,000
1,027,338,000
160,122,000
1/24/2014
Jackson
MS
-
288,120,000
713,319,000
-
-
288,120,000
713,319,000
1,001,439,000
141,475,000
1/24/2014
Jackson
MS
-
273,913,000
678,145,000
-
-
273,913,000
678,145,000
952,058,000
134,499,000
1/24/2014
Kossuth
MS
-
280,000,000
725,755,000
-
-
280,000,000
725,755,000
1,005,755,000
143,941,000
1/24/2014
Lauderdale
MS
-
141,934,000
945,836,000
-
-
141,934,000
945,836,000
1,087,770,000
187,591,000
1/24/2014
Liberty
MS
-
432,170,000
802,601,000
-
-
432,170,000
802,601,000
1,234,771,000
210,014,000
6/1/2012
Louin
MS
-
156,070,000
886,776,000
-
-
156,070,000
886,776,000
1,042,846,000
10,346,000
9/28/2018
Lucedale
MS
-
185,603,000
730,164,000
-
-
185,603,000
730,164,000
915,767,000
161,853,000
6/26/2013
Lumberton
MS
-
170,774,000
970,324,000
-
-
170,774,000
970,324,000
1,141,098,000
11,320,000
9/28/2018
Mc Henry
MS
-
107,242,000
1,075,348,000
-
-
107,242,000
1,075,348,000
1,182,590,000
12,546,000
9/28/2018
Monticello
MS
-
146,854,000
834,411,000
-
-
146,854,000
834,411,000
981,265,000
9,735,000
9/28/2018
Moselle
MS
-
119,405,000
795,703,000
-
-
119,405,000
795,703,000
915,108,000
157,814,000
1/24/2014
Moss Point
MS
-
205,776,000
809,525,000
-
-
205,776,000
809,525,000
1,015,301,000
179,445,000
6/26/2013
Moss Point
MS
-
181,070,000
1,025,089,000
-
-
181,070,000
1,025,089,000
1,206,159,000
11,959,000
9/28/2018
Myrtle
MS
-
112,646,000
750,663,000
-
-
112,646,000
750,663,000
863,309,000
148,882,000
1/24/2014
Oakland
MS
-
143,737,000
957,846,000
-
-
143,737,000
957,846,000
1,101,583,000
189,973,000
1/24/2014
Okolona
MS
-
170,244,000
1,134,490,000
-
-
170,244,000
1,134,490,000
1,304,734,000
225,007,000
1/24/2014
Picayune
MS
-
203,708,000
801,388,000
-
-
203,708,000
801,388,000
1,005,096,000
177,641,000
6/26/2013
Picayune
MS
-
168,967,000
956,569,000
-
-
168,967,000
956,569,000
1,125,536,000
11,160,000
9/28/2018
Pope
MS
-
170,478,000
890,701,000
-
-
170,478,000
890,701,000
1,061,179,000
176,656,000
1/24/2014
Shaw
MS
-
121,095,000
806,963,000
-
-
121,095,000
806,963,000
928,058,000
160,048,000
1/24/2014
Southaven
MS
-
284,495,000
1,119,205,000
-
-
284,495,000
1,119,205,000
1,403,700,000
240,629,000
8/22/2013
Starkville
MS
-
170,000,000
745,108,000
-
-
170,000,000
745,108,000
915,108,000
147,780,000
1/24/2014
Thaxton
MS
-
122,784,000
818,223,000
-
-
122,784,000
818,223,000
941,007,000
162,281,000
1/24/2014
Tunica
MS
-
166,859,000
656,426,000
24,912,000
-
166,859,000
681,339,000
848,198,000
147,074,000
9/13/2013
Tupelo
MS
-
350,960,000
868,896,000
-
-
350,960,000
868,896,000
1,219,856,000
172,331,000
1/24/2014
Vancleave
MS
-
169,385,000
958,933,000
-
-
169,385,000
958,933,000
1,128,318,000
11,188,000
9/28/2018
Vicksburg
MS
-
577,491,000
1,072,483,000
-
-
577,491,000
1,072,483,000
1,649,974,000
280,633,000
6/1/2012
Waynesboro
MS
-
126,164,000
840,743,000
-
-
126,164,000
840,743,000
966,907,000
166,747,000
1/24/2014
Benson
NC
-
880,000,000
1,245,899,000
-
-
880,000,000
1,245,899,000
2,125,899,000
247,103,000
1/24/2014
Bridgeton
NC
-
266,399,000
756,863,000
23,662,000
-
266,399,000
780,525,000
1,046,924,000
163,384,000
12/20/2013
Burgaw
NC
-
239,304,000
1,250,293,000
-
-
239,304,000
1,250,293,000
1,489,597,000
247,975,000
1/24/2014
Candler
NC
-
650,000,000
2,637,579,000
-
-
650,000,000
2,637,579,000
3,287,579,000
523,120,000
1/31/2014
Candor
NC
-
203,498,000
800,561,000
-
-
203,498,000
800,561,000
1,004,059,000
169,452,000
9/6/2013
Charlotte
NC
-
404,476,000
1,149,152,000
-
-
404,476,000
1,149,152,000
1,553,628,000
212,593,000
5/8/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Chocowinity
NC
-
225,493,000
920,001,000
-
-
225,493,000
920,001,000
1,145,494,000
210,067,000
4/4/2013
Dublin
NC
-
130,369,000
681,142,000
-
-
130,369,000
681,142,000
811,511,000
135,093,000
1/24/2014
Durham
NC
-
442,367,000
821,540,000
-
-
442,367,000
821,540,000
1,263,907,000
198,539,000
12/14/2012
Engelhard
NC
-
107,915,000
719,135,000
-
-
107,915,000
719,135,000
827,050,000
142,629,000
1/24/2014
Erwin
NC
-
132,370,000
639,988,000
14,285,000
-
132,370,000
654,273,000
786,643,000
131,305,000
12/20/2013
Fairmont
NC
-
163,886,000
856,258,000
-
-
163,886,000
856,258,000
1,020,144,000
169,824,000
1/24/2014
Gibonsville
NC
-
196,942,000
774,770,000
-
-
196,942,000
774,770,000
971,712,000
163,993,000
9/10/2013
Greensboro
NC
-
325,349,000
1,279,926,000
-
-
325,349,000
1,279,926,000
1,605,275,000
275,184,000
8/8/2013
Greensboro
NC
-
282,204,000
801,768,000
-
-
282,204,000
801,768,000
1,083,972,000
153,672,000
3/27/2014
Greenville
NC
-
516,944,000
1,279,833,000
-
-
516,944,000
1,279,833,000
1,796,777,000
253,834,000
1/24/2014
Henderson
NC
-
428,455,000
1,060,754,000
-
-
428,455,000
1,060,754,000
1,489,209,000
210,383,000
1/24/2014
Hertford
NC
-
213,160,000
1,030,599,000
-
-
213,160,000
1,030,599,000
1,243,759,000
204,402,000
1/31/2014
Hudson
NC
-
222,436,000
875,064,000
-
-
222,436,000
875,064,000
1,097,500,000
188,139,000
8/22/2013
Kannapolis
NC
-
351,788,000
870,946,000
-
-
351,788,000
870,946,000
1,222,734,000
172,738,000
1/24/2014
Kings Mountain
NC
-
492,867,000
915,324,000
-
-
492,867,000
915,324,000
1,408,191,000
221,203,000
12/14/2012
Kinston
NC
-
261,745,000
1,029,709,000
-
-
261,745,000
1,029,709,000
1,291,454,000
228,252,000
6/11/2013
Lexington
NC
-
242,683,000
954,717,000
-
-
242,683,000
954,717,000
1,197,400,000
205,264,000
8/22/2013
Lincolnton
NC
-
343,797,000
638,479,000
-
-
343,797,000
638,479,000
982,276,000
154,299,000
12/14/2012
Lumberton
NC
-
459,702,000
853,731,000
-
-
459,702,000
853,731,000
1,313,433,000
206,318,000
12/14/2012
Marion
NC
-
475,680,000
883,406,000
-
-
475,680,000
883,406,000
1,359,086,000
213,490,000
12/14/2012
Morganton
NC
-
197,304,000
776,196,000
-
-
197,304,000
776,196,000
973,500,000
166,882,000
8/22/2013
Mount Airy
NC
-
336,314,000
832,635,000
-
-
336,314,000
832,635,000
1,168,949,000
165,139,000
1/24/2014
North Wilkesboro
NC
-
147,567,000
770,994,000
-
-
147,567,000
770,994,000
918,561,000
152,914,000
1/24/2014
Rocky Mount
NC
-
218,842,000
860,925,000
-
-
218,842,000
860,925,000
1,079,767,000
182,229,000
9/19/2013
Snow Hill
NC
-
224,094,000
914,294,000
-
-
224,094,000
914,294,000
1,138,388,000
208,764,000
4/4/2013
Spring Hope
NC
-
226,533,000
1,183,568,000
-
-
226,533,000
1,183,568,000
1,410,101,000
234,741,000
1/24/2014
Stantonsburg
NC
-
173,832,000
1,158,398,000
-
-
173,832,000
1,158,398,000
1,332,230,000
229,749,000
1/24/2014
Statesville
NC
-
166,429,000
869,543,000
-
-
166,429,000
869,543,000
1,035,972,000
172,459,000
1/24/2014
Taylorsville
NC
-
336,401,000
624,744,000
-
-
336,401,000
624,744,000
961,145,000
150,980,000
12/14/2012
Taylorsville
NC
-
222,473,000
875,210,000
-
-
222,473,000
875,210,000
1,097,683,000
191,088,000
7/3/2013
Winterville
NC
-
250,429,000
465,082,000
-
-
250,429,000
465,082,000
715,511,000
121,696,000
6/1/2012
Gibbon
NE
-
162,140,000
921,264,000
-
-
162,140,000
921,264,000
1,083,404,000
19,961,000
6/28/2018
Holdrege
NE
-
216,987,000
1,049,100,000
-
-
216,987,000
1,049,100,000
1,266,087,000
215,066,000
11/15/2013
Lexington
NE
-
370,620,000
688,294,000
-
-
370,620,000
688,294,000
1,058,914,000
166,338,000
12/14/2012
Loup City
NE
-
190,000,000
922,534,000
-
-
190,000,000
922,534,000
1,112,534,000
112,242,000
12/15/2015
Minden
NE
-
330,000,000
898,300,000
-
-
330,000,000
898,300,000
1,228,300,000
109,293,000
12/15/2015
Nebraska City
NE
-
190,852,000
354,439,000
-
-
190,852,000
354,439,000
545,291,000
85,656,000
12/14/2012
Norfolk
NE
-
222,044,000
873,523,000
10,147,000
-
222,044,000
883,670,000
1,105,714,000
190,921,000
9/25/2013
Pierce
NE
-
170,000,000
989,610,000
-
-
170,000,000
989,610,000
1,159,610,000
120,403,000
12/15/2015
Red Cloud
NE
-
160,000,000
957,280,000
-
-
160,000,000
957,280,000
1,117,280,000
116,469,000
12/15/2015
South Sioux City
NE
-
290,379,000
539,274,000
-
-
290,379,000
539,274,000
829,653,000
141,110,000
6/1/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Valentine
NE
-
146,625,000
1,068,632,000
-
-
146,625,000
1,068,632,000
1,215,257,000
219,070,000
11/15/2013
Manchester
NH
-
457,288,000
849,249,000
-
-
457,288,000
849,249,000
1,306,537,000
205,235,000
12/14/2012
Walpole
NH
-
477,671,000
887,103,000
-
-
477,671,000
887,103,000
1,364,774,000
214,383,000
12/14/2012
Malaga
NJ
-
513,159,000
953,010,000
-
-
513,159,000
953,010,000
1,466,169,000
230,311,000
12/14/2012
Penns Grove
NJ
-
416,842,000
1,639,858,000
-
-
416,842,000
1,639,858,000
2,056,700,000
352,569,000
8/22/2013
Albuquerque
NM
-
281,887,000
523,504,000
-
-
281,887,000
523,504,000
805,391,000
136,984,000
6/1/2012
Albuquerque
NM
-
395,457,000
1,123,530,000
-
-
395,457,000
1,123,530,000
1,518,987,000
215,343,000
3/14/2014
Albuquerque
NM
-
470,559,000
1,343,072,000
-
-
470,559,000
1,343,072,000
1,813,631,000
226,084,000
10/6/2014
Belen
NM
-
195,662,000
1,022,280,000
-
-
195,662,000
1,022,280,000
1,217,942,000
202,752,000
1/24/2014
Bloomfield
NM
-
458,086,000
850,732,000
-
-
458,086,000
850,732,000
1,308,818,000
222,608,000
6/1/2012
Chama
NM
-
392,836,000
729,552,000
-
-
392,836,000
729,552,000
1,122,388,000
176,308,000
12/14/2012
Clovis
NM
-
194,637,000
765,705,000
-
-
194,637,000
765,705,000
960,342,000
169,731,000
6/21/2013
Cuba
NM
-
543,339,000
1,009,059,000
-
-
543,339,000
1,009,059,000
1,552,398,000
264,037,000
6/1/2012
Kirtland
NM
-
688,532,000
1,278,703,000
-
-
688,532,000
1,278,703,000
1,967,235,000
334,594,000
6/1/2012
Las Cruces
NM
-
331,422,000
615,497,000
-
-
331,422,000
615,497,000
946,919,000
161,055,000
6/1/2012
Los Lunas
NM
-
505,257,000
938,335,000
-
-
505,257,000
938,335,000
1,443,592,000
245,531,000
6/1/2012
Roswell
NM
-
334,874,000
829,069,000
-
-
334,874,000
829,069,000
1,163,943,000
164,432,000
1/24/2014
Tularosa
NM
-
233,037,000
432,782,000
-
-
233,037,000
432,782,000
665,819,000
104,589,000
12/14/2012
Tularosa
NM
-
192,325,000
1,004,841,000
-
-
192,325,000
1,004,841,000
1,197,166,000
199,293,000
1/24/2014
Vanderwagon
NM
-
667,383,000
1,239,426,000
-
-
667,383,000
1,239,426,000
1,906,809,000
324,316,000
6/1/2012
Mesquite
NV
-
225,609,000
418,988,000
-
-
225,609,000
418,988,000
644,597,000
109,635,000
6/1/2012
Mesquite
NV
-
231,028,000
1,116,987,000
-
-
231,028,000
1,116,987,000
1,348,015,000
225,259,000
12/10/2013
Sun Valley
NV
-
364,207,000
1,432,793,000
-
-
364,207,000
1,432,793,000
1,797,000,000
308,051,000
8/22/2013
Bath
NY
-
145,625,000
760,850,000
-
-
145,625,000
760,850,000
906,475,000
150,902,000
1/24/2014
Binghamton
NY
-
256,309,000
728,197,000
-
-
256,309,000
728,197,000
984,506,000
132,289,000
6/30/2014
Bloomfield
NY
-
169,173,000
957,732,000
-
-
169,173,000
957,732,000
1,126,905,000
11,174,000
9/28/2018
Buffalo
NY
-
356,992,000
1,014,248,000
-
-
356,992,000
1,014,248,000
1,371,240,000
201,159,000
1/31/2014
Candor
NY
-
162,524,000
1,056,406,000
-
-
162,524,000
1,056,406,000
1,218,930,000
12,325,000
9/28/2018
Chaumont
NY
-
137,438,000
915,872,000
-
-
137,438,000
915,872,000
1,053,310,000
181,648,000
1/24/2014
Falconer
NY
-
541,451,000
1,340,506,000
-
-
541,451,000
1,340,506,000
1,881,957,000
265,867,000
1/24/2014
Gouverneur
NY
-
485,614,000
901,855,000
-
-
485,614,000
901,855,000
1,387,469,000
217,948,000
12/14/2012
Gowanda
NY
-
503,722,000
935,484,000
-
-
503,722,000
935,484,000
1,439,206,000
244,785,000
6/1/2012
Malone
NY
-
119,467,000
577,603,000
70,380,000
-
119,467,000
647,983,000
767,450,000
125,582,000
12/20/2013
Rochester
NY
-
307,714,000
890,061,000
126,278,000
-
307,714,000
1,016,339,000
1,324,053,000
137,103,000
10/9/2015
Schenectady
NY
-
468,077,000
869,287,000
-
-
468,077,000
869,287,000
1,337,364,000
210,078,000
12/14/2012
Schroon Lake
NY
-
106,612,000
777,013,000
22,967,000
-
106,612,000
799,980,000
906,592,000
159,138,000
12/20/2013
Springwater
NY
-
170,112,000
963,049,000
-
-
170,112,000
963,049,000
1,133,161,000
11,236,000
9/28/2018
Syracuse
NY
-
376,119,000
619,343,000
-
-
376,119,000
619,343,000
995,462,000
89,642,000
10/9/2015
Andover
OH
-
469,209,000
871,388,000
-
-
469,209,000
871,388,000
1,340,597,000
210,585,000
12/14/2012
Arcanum
OH
-
290,000,000
1,023,516,000
-
-
290,000,000
1,023,516,000
1,313,516,000
124,528,000
12/15/2015
Attica
OH
-
78,066,000
894,837,000
41,323,000
-
78,066,000
936,159,000
1,014,225,000
37,457,000
12/28/2017
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Belpre
OH
-
174,063,000
985,417,000
-
-
174,063,000
985,417,000
1,159,480,000
21,351,000
6/28/2018
Bettsville
OH
-
60,000,000
1,088,485,000
-
-
60,000,000
1,088,485,000
1,148,485,000
132,432,000
12/15/2015
Blanchester
OH
-
359,899,000
668,383,000
-
-
359,899,000
668,383,000
1,028,282,000
161,526,000
12/14/2012
Bradford
OH
-
172,945,000
836,166,000
-
-
172,945,000
836,166,000
1,009,111,000
174,201,000
10/22/2013
Bremen
OH
-
354,866,000
1,153,316,000
-
-
354,866,000
1,153,316,000
1,508,182,000
274,874,000
1/22/2013
Cardington
OH
-
364,843,000
1,185,739,000
-
-
364,843,000
1,185,739,000
1,550,582,000
282,601,000
1/22/2013
Chillicothe
OH
-
322,923,000
1,049,499,000
74,779,000
-
322,923,000
1,124,278,000
1,447,201,000
266,434,000
1/22/2013
Cincinnati
OH
-
263,944,000
1,038,356,000
-
-
263,944,000
1,038,356,000
1,302,300,000
223,247,000
8/22/2013
Columbus
OH
-
574,968,000
1,067,799,000
-
-
574,968,000
1,067,799,000
1,642,767,000
279,407,000
6/1/2012
Columbus
OH
-
359,083,000
666,868,000
-
-
359,083,000
666,868,000
1,025,951,000
174,497,000
6/1/2012
Columbus
OH
-
361,678,000
895,430,000
-
-
361,678,000
895,430,000
1,257,108,000
177,594,000
1/24/2014
Conneaut
OH
-
166,644,000
805,700,000
-
-
166,644,000
805,700,000
972,344,000
167,854,000
10/22/2013
Dayton
OH
-
315,477,000
1,025,302,000
-
-
315,477,000
1,025,302,000
1,340,779,000
244,364,000
1/22/2013
Elyria
OH
-
251,256,000
988,444,000
-
-
251,256,000
988,444,000
1,239,700,000
212,515,000
8/22/2013
Fairfield
OH
-
219,943,000
865,257,000
-
-
219,943,000
865,257,000
1,085,200,000
186,030,000
8/22/2013
Fayette
OH
-
316,318,000
1,028,034,000
-
-
316,318,000
1,028,034,000
1,344,352,000
245,015,000
1/22/2013
Findlay
OH
-
238,609,000
938,689,000
-
-
238,609,000
938,689,000
1,177,298,000
208,076,000
6/21/2013
Fort Recovery
OH
-
169,820,000
964,903,000
-
-
169,820,000
964,903,000
1,134,723,000
20,906,000
6/28/2018
Fostoria
OH
-
262,910,000
1,034,290,000
-
-
262,910,000
1,034,290,000
1,297,200,000
222,372,000
8/22/2013
Georgetown
OH
-
381,051,000
707,665,000
-
-
381,051,000
707,665,000
1,088,716,000
171,019,000
12/14/2012
Grand Rapids
OH
-
80,000,000
1,072,480,000
-
-
80,000,000
1,072,480,000
1,152,480,000
130,485,000
12/15/2015
Greenwich
OH
-
146,371,000
975,399,000
-
-
146,371,000
975,399,000
1,121,770,000
193,454,000
1/24/2014
Howard
OH
-
169,394,000
885,037,000
-
-
169,394,000
885,037,000
1,054,431,000
175,532,000
1/24/2014
Huber Heights
OH
-
230,867,000
908,233,000
-
-
230,867,000
908,233,000
1,139,100,000
195,270,000
8/22/2013
Kenton
OH
-
400,787,000
744,320,000
-
-
400,787,000
744,320,000
1,145,107,000
194,764,000
6/1/2012
Kingston
OH
-
373,121,000
1,212,643,000
-
-
373,121,000
1,212,643,000
1,585,764,000
289,013,000
1/22/2013
LaGrange
OH
-
135,768,000
768,620,000
-
-
135,768,000
768,620,000
904,388,000
32,026,000
12/28/2017
Litchfield
OH
-
110,000,000
1,077,669,000
-
-
110,000,000
1,077,669,000
1,187,669,000
131,116,000
12/15/2015
Little Hocking
OH
-
177,189,000
1,003,114,000
-
-
177,189,000
1,003,114,000
1,180,303,000
11,703,000
9/28/2018
Lorain
OH
-
248,933,000
979,305,000
-
-
248,933,000
979,305,000
1,228,238,000
217,079,000
6/21/2013
Manchester
OH
-
371,453,000
689,842,000
-
-
371,453,000
689,842,000
1,061,295,000
166,712,000
12/14/2012
Marengo
OH
-
213,500,000
839,910,000
-
-
213,500,000
839,910,000
1,053,410,000
177,781,000
9/26/2013
Mechanicsburg
OH
-
350,151,000
650,280,000
-
-
350,151,000
650,280,000
1,000,431,000
170,156,000
6/1/2012
Millersport
OH
-
186,137,000
1,053,774,000
-
-
186,137,000
1,053,774,000
1,239,911,000
12,294,000
9/28/2018
Nashport
OH
-
319,015,000
1,036,799,000
-
-
319,015,000
1,036,799,000
1,355,814,000
247,104,000
1/22/2013
Neffs
OH
-
180,781,000
1,023,453,000
-
-
180,781,000
1,023,453,000
1,204,234,000
11,940,000
9/28/2018
New Miami
OH
-
212,241,000
834,959,000
-
-
212,241,000
834,959,000
1,047,200,000
179,516,000
8/22/2013
New Straitsville
OH
-
165,027,000
937,671,000
-
-
165,027,000
937,671,000
1,102,698,000
10,939,000
9/28/2018
Niles
OH
-
260,000,000
1,164,294,000
-
-
260,000,000
1,164,294,000
1,424,294,000
141,656,000
12/15/2015
Oak Harbor
OH
-
373,483,000
1,213,820,000
-
-
373,483,000
1,213,820,000
1,587,303,000
289,294,000
1/22/2013
Orwell
OH
-
293,628,000
545,309,000
-
-
293,628,000
545,309,000
838,937,000
142,689,000
6/1/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Peebles
OH
-
436,054
809,815
-
-
436,054
809,815
1,245,869
195,705
12/14/2012
Perry
OH
-
70,000
1,114,353
-
-
70,000
1,114,353
1,184,353
135,580
12/15/2015
Plymouth
OH
-
143,823
814,220
14,253
-
143,823
828,473
972,296
33,956
12/28/2017
Racine
OH
-
183,196
957,149
-
-
183,196
957,149
1,140,345
189,835
1/24/2014
Richwood
OH
-
157,044
1,046,524
-
-
157,044
1,046,524
1,203,568
207,561
1/24/2014
Ripley
OH
-
359,515
667,671
-
-
359,515
667,671
1,027,186
174,707
6/1/2012
Rising Sun
OH
-
143,130
810,299
29,962
-
143,130
840,261
983,391
34,162
12/28/2017
Rockford
OH
-
117,012
852,812
-
-
117,012
852,812
969,824
174,826
11/15/2013
Seville
OH
-
335,945
1,091,822
-
-
335,945
1,091,822
1,427,767
260,217
1/22/2013
Springfield
OH
-
246,216
968,616
-
-
246,216
968,616
1,214,832
214,710
6/21/2013
Tarlton
OH
-
190,000
1,123,464
-
-
190,000
1,123,464
1,313,464
136,688
12/15/2015
Thornville
OH
-
285,644
928,344
64,412
-
285,644
992,757
1,278,401
235,579
1/22/2013
Toronto
OH
-
356,055
1,011,585
-
-
356,055
1,011,585
1,367,640
204,003
12/17/2013
Trenton
OH
-
439,388
707,205
-
-
439,388
707,205
1,146,593
105,125
10/9/2015
Wakeman
OH
-
139,645
790,567
39,803
-
139,645
830,370
970,015
33,100
12/28/2017
Warren
OH
-
505,805
939,353
-
-
505,805
939,353
1,445,158
245,797
6/1/2012
Waterford
OH
-
92,167
970,824
-
-
92,167
970,824
1,062,991
11,326
9/28/2018
West Carrollton
OH
-
440,000
1,072,193
-
-
440,000
1,072,193
1,512,193
130,450
12/15/2015
West Unity
OH
-
68,318
872,523
-
-
68,318
872,523
940,841
36,355
12/28/2017
Withamsville
OH
-
276,510
1,087,790
-
-
276,510
1,087,790
1,364,300
233,875
8/22/2013
Afton
OK
-
113,611
757,094
-
-
113,611
757,094
870,705
150,157
1/24/2014
Antlers
OK
-
149,985
1,093,124
-
-
149,985
1,093,124
1,243,109
213,159
2/27/2014
Ardmore
OK
-
347,932
646,160
-
-
347,932
646,160
994,092
169,079
6/1/2012
Beaver
OK
-
144,761
822,519
-
-
144,761
822,519
967,280
17,821
6/28/2018
Broken Arrow
OK
-
356,064
881,533
-
-
356,064
881,533
1,237,597
174,837
1/24/2014
Claremore
OK
-
231,355
774,203
-
-
231,355
774,203
1,005,558
197,422
8/30/2012
Clayton
OK
-
533,789
826,041
-
-
533,789
826,041
1,359,830
205,133
10/31/2012
Cleveland
OK
-
196,277
1,307,968
-
-
196,277
1,307,968
1,504,245
259,414
1/24/2014
Collinsville
OK
-
289,014
715,532
-
-
289,014
715,532
1,004,546
141,914
1/24/2014
Davis
OK
-
569,738
881,672
-
-
569,738
881,672
1,451,410
218,949
10/31/2012
Drumright
OK
-
169,840
315,418
-
-
169,840
315,418
485,258
76,226
12/14/2012
Duncan
OK
-
430,448
799,403
-
-
430,448
799,403
1,229,851
193,189
12/14/2012
Elgin
OK
-
194,959
942,597
-
-
194,959
942,597
1,137,556
193,232
11/15/2013
Eufaula
OK
-
195,573
769,386
-
-
195,573
769,386
964,959
167,982
7/9/2013
Grove
OK
-
424,722
657,258
-
-
424,722
657,258
1,081,980
163,219
10/31/2012
Haskell
OK
-
228,333
424,047
-
-
228,333
424,047
652,380
110,959
6/1/2012
Haskell
OK
-
270,000
829,885
-
-
270,000
829,885
1,099,885
164,594
1/24/2014
Hollis
OK
-
61,713
880,041
-
-
61,713
880,041
941,754
224,410
8/30/2012
Hulbert
OK
-
395,384
611,858
-
-
395,384
611,858
1,007,242
151,945
10/31/2012
Kansas
OK
-
398,387
616,506
-
-
398,387
616,506
1,014,893
153,099
10/31/2012
Kellyville
OK
-
422,292
653,499
-
-
422,292
653,499
1,075,791
162,286
10/31/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Konawa
OK
-
390,917
604,945
-
-
390,917
604,945
995,862
150,228
10/31/2012
Lawton
OK
-
445,994
690,178
-
-
445,994
690,178
1,136,172
171,394
10/31/2012
Lexington
OK
-
128,927
673,606
-
-
128,927
673,606
802,533
133,598
1/24/2014
Mooreland
OK
-
140,000
934,322
-
-
140,000
934,322
1,074,322
113,676
12/15/2015
Newkirk
OK
-
100,999
673,045
-
-
100,999
673,045
774,044
133,487
1/24/2014
Norman
OK
-
173,541
906,703
-
-
173,541
906,703
1,080,244
179,829
1/24/2014
Oklahoma City
OK
-
400,000
678,788
-
-
400,000
678,788
1,078,788
168,566
10/31/2012
Oklahoma City
OK
-
318,134
590,821
-
-
318,134
590,821
908,955
142,782
12/14/2012
Shawnee
OK
-
288,016
534,887
-
-
288,016
534,887
822,903
139,962
6/1/2012
Shawnee
OK
-
419,371
648,979
-
-
419,371
648,979
1,068,350
161,163
10/31/2012
Shawnee
OK
-
246,641
610,625
-
-
246,641
610,625
857,266
121,107
1/24/2014
Sperry
OK
-
157,888
824,918
-
-
157,888
824,918
982,806
163,609
1/24/2014
Stratford
OK
-
392,814
607,881
-
-
392,814
607,881
1,000,695
150,957
10/31/2012
Tulsa
OK
-
433,486
670,822
-
-
433,486
670,822
1,104,308
166,587
10/31/2012
Tulsa
OK
-
312,846
774,535
-
-
312,846
774,535
1,087,381
153,616
1/24/2014
Wilson
OK
-
89,538
814,202
-
-
89,538
814,202
903,740
207,622
8/30/2012
Woodward
OK
-
221,150
802,563
-
-
221,150
802,563
1,023,713
204,653
8/30/2012
Aspers
PA
-
191,596
1,084,676
-
-
191,596
1,084,676
1,276,272
23,501
6/28/2018
Kersey
PA
-
188,986
1,073,803
-
-
188,986
1,073,803
1,262,789
23,266
6/28/2018
Leeper
PA
-
180,495
1,025,556
-
-
180,495
1,025,556
1,206,051
22,220
6/28/2018
Lemont Furnace
PA
-
298,795
848,903
-
-
298,795
848,903
1,147,698
165,536
2/27/2014
New Bloomfield
PA
-
193,938
1,097,939
-
-
193,938
1,097,939
1,291,877
23,789
6/28/2018
Smithfield
PA
-
255,705
1,005,946
-
-
255,705
1,005,946
1,261,651
212,925
9/26/2013
Somerset
PA
-
301,986
1,188,014
-
-
301,986
1,188,014
1,490,000
255,423
8/22/2013
Cayce
SC
-
207,965
818,135
-
-
207,965
818,135
1,026,100
175,899
8/22/2013
Denmark
SC
-
220,498
867,442
18,832
-
220,498
886,274
1,106,772
184,589
9/30/2013
Florence
SC
-
190,573
777,528
9,344
-
190,573
786,872
977,445
178,489
4/23/2013
Heath Springs
SC
-
158,107
826,065
-
-
158,107
826,065
984,172
163,836
1/24/2014
Kingstree
SC
-
198,491
780,866
-
-
198,491
780,866
979,357
165,283
9/18/2013
Longs
SC
-
239,632
1,252,008
-
-
239,632
1,252,008
1,491,640
248,315
1/24/2014
Myrtle Beach
SC
-
268,056
497,817
-
-
268,056
497,817
765,873
120,306
12/14/2012
N Myrtle Beach
SC
-
155,168
610,432
-
-
155,168
610,432
765,600
131,243
8/22/2013
Newberry
SC
-
383,286
711,817
-
-
383,286
711,817
1,095,103
172,022
12/14/2012
North Charleston
SC
-
254,479
1,001,121
-
-
254,479
1,001,121
1,255,600
215,241
8/22/2013
Orangeburg
SC
-
60,000
691,079
-
-
60,000
691,079
751,079
137,064
1/24/2014
Ridgeland
SC
-
375,699
1,349,908
-
-
375,699
1,349,908
1,725,607
189,677
10/9/2015
Ridgeway
SC
-
126,727
844,496
-
-
126,727
844,496
971,223
167,492
1/24/2014
Timmonsville
SC
-
209,841
856,141
-
-
209,841
856,141
1,065,982
195,485
4/23/2013
Union
SC
-
225,174
885,835
-
-
225,174
885,835
1,111,009
187,502
9/30/2013
Westminster
SC
-
350,000
987,266
-
-
350,000
987,266
1,337,266
195,808
1/24/2014
Chamberlain
SD
-
588,809
969,571
-
-
588,809
969,571
1,558,380
140,333
10/9/2015
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Rapid City
SD
-
330,000
912,615
-
-
330,000
912,615
1,242,615
111,035
12/15/2015
Adams
TN
-
121,868
812,117
-
-
121,868
812,117
933,985
161,070
1/24/2014
Bethel Springs
TN
-
134,530
702,880
-
-
134,530
702,880
837,410
139,405
1/24/2014
Bloomington Sprgs
TN
-
173,585
906,933
-
-
173,585
906,933
1,080,518
179,875
1/24/2014
Caryville
TN
-
218,883
861,087
-
-
218,883
861,087
1,079,970
182,263
9/24/2013
Celina
TN
-
157,341
1,048,501
-
-
157,341
1,048,501
1,205,842
207,953
1/24/2014
Church Hill
TN
-
220,676
868,141
-
-
220,676
868,141
1,088,817
186,650
8/1/2013
Cordova
TN
-
362,262
896,875
-
-
362,262
896,875
1,259,137
177,880
1/24/2014
Covington
TN
-
192,392
1,005,191
-
-
192,392
1,005,191
1,197,583
199,363
1/24/2014
Crossville
TN
-
224,273
882,294
-
-
224,273
882,294
1,106,567
186,752
9/24/2013
Dresden
TN
-
169,202
884,035
-
-
169,202
884,035
1,053,237
175,334
1/24/2014
Dyersburg
TN
-
138,691
724,619
-
-
138,691
724,619
863,310
143,716
1/24/2014
Dyersburg
TN
-
134,528
702,868
-
-
134,528
702,868
837,396
139,402
1/24/2014
Friendship
TN
-
129,543
863,263
-
-
129,543
863,263
992,806
171,214
1/24/2014
Grand Junction
TN
-
119,405
795,703
-
-
119,405
795,703
915,108
157,814
1/24/2014
Grimsley
TN
-
190,000
832,058
-
-
190,000
832,058
1,022,058
176,119
9/24/2013
Halls
TN
-
224,485
1,172,868
-
-
224,485
1,172,868
1,397,353
232,619
1/24/2014
Harriman
TN
-
260,000
975,515
-
-
260,000
975,515
1,235,515
190,225
2/5/2014
Humboldt
TN
-
163,042
665,204
-
-
163,042
665,204
828,246
154,105
3/19/2013
Madisonville
TN
-
185,976
731,631
41,687
-
185,976
773,318
959,294
162,453
8/30/2013
Martin
TN
-
160,410
838,094
-
-
160,410
838,094
998,504
166,222
1/24/2014
Mascot
TN
-
428,927
663,766
-
-
428,927
663,766
1,092,693
164,835
10/31/2012
Memphis
TN
-
225,548
418,876
-
-
225,548
418,876
644,424
109,606
6/1/2012
Memphis
TN
-
493,000
915,572
-
-
493,000
915,572
1,408,572
239,575
6/1/2012
Memphis
TN
-
369,950
687,049
-
-
369,950
687,049
1,056,999
179,778
6/1/2012
Memphis
TN
-
563,795
1,047,048
-
-
563,795
1,047,048
1,610,843
273,978
6/1/2012
Memphis
TN
-
552,777
1,026,586
-
-
552,777
1,026,586
1,579,363
268,623
6/1/2012
Memphis
TN
-
253,148
626,736
-
-
253,148
626,736
879,884
124,303
1/24/2014
Memphis
TN
-
332,829
824,006
-
-
332,829
824,006
1,156,835
163,428
1/24/2014
Memphis
TN
-
299,794
742,220
-
-
299,794
742,220
1,042,014
147,207
1/24/2014
Memphis
TN
-
315,786
781,812
-
-
315,786
781,812
1,097,598
155,059
1/24/2014
Memphis
TN
-
312,958
774,812
-
-
312,958
774,812
1,087,770
153,671
1/24/2014
Memphis
TN
-
330,000
1,049,568
-
-
330,000
1,049,568
1,379,568
208,164
1/24/2014
Memphis
TN
-
327,861
811,707
-
-
327,861
811,707
1,139,568
160,989
1/24/2014
Memphis
TN
-
312,275
773,121
-
-
312,275
773,121
1,085,396
153,336
1/24/2014
Memphis
TN
-
390,000
772,302
-
-
390,000
772,302
1,162,302
153,173
1/24/2014
Memphis
TN
-
352,417
872,503
-
-
352,417
872,503
1,224,920
173,046
1/24/2014
Memphis
TN
-
409,578
1,014,019
-
-
409,578
1,014,019
1,423,597
201,114
1/24/2014
Memphis
TN
-
405,442
1,003,781
-
-
405,442
1,003,781
1,409,223
199,083
1/24/2014
Michie
TN
-
123,911
825,729
-
-
123,911
825,729
949,640
163,770
1/24/2014
Milledgeville
TN
-
270,000
731,439
-
-
270,000
731,439
1,001,439
145,069
1/24/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Nashville
TN
-
589,570
948,928
-
-
589,570
948,928
1,538,498
141,057
10/9/2015
Niota
TN
-
152,948
799,110
-
-
152,948
799,110
952,058
158,490
1/24/2014
Rogersville
TN
-
206,436
812,120
-
-
206,436
812,120
1,018,556
174,606
8/14/2013
Sharon
TN
-
130,332
868,517
-
-
130,332
868,517
998,849
172,256
1/24/2014
Sunbright
TN
-
355,282
1,154,668
-
-
355,282
1,154,668
1,509,950
275,196
1/22/2013
Tennessee Ridge
TN
-
120,926
805,837
-
-
120,926
805,837
926,763
159,824
1/24/2014
Trezevant
TN
-
170,247
805,149
-
-
170,247
805,149
975,396
159,688
1/24/2014
Alpine
TX
-
248,256
1,297,068
-
-
248,256
1,297,068
1,545,324
257,252
1/24/2014
Alton
TX
-
345,945
642,468
-
-
345,945
642,468
988,413
168,113
6/1/2012
Amarillo
TX
-
191,492
811,497
-
-
191,492
811,497
1,002,989
206,932
8/30/2012
Amarillo
TX
-
260,864
712,639
-
-
260,864
712,639
973,503
181,723
8/30/2012
Anahuac
TX
-
531,601
987,259
-
-
531,601
987,259
1,518,860
238,588
12/14/2012
Anson
TX
608,000
139,586
1,017,331
-
-
139,586
1,017,331
1,156,917
191,597
4/30/2014
Arcola
TX
-
309,969
961,069
-
-
309,969
961,069
1,271,038
245,072
8/30/2012
Asherton
TX
-
310,356
791,944
-
-
310,356
791,944
1,102,300
32,998
12/28/2017
Atlanta
TX
-
427,591
661,699
-
-
427,591
661,699
1,089,290
164,322
10/31/2012
Austin
TX
-
590,000
812,479
-
-
590,000
812,479
1,402,479
201,766
10/31/2012
Austin
TX
-
333,480
947,447
-
-
333,480
947,447
1,280,927
197,385
10/24/2013
Bacliff
TX
-
557,574
1,035,495
-
-
557,574
1,035,495
1,593,069
270,954
6/1/2012
Baytown
TX
-
486,394
903,304
-
-
486,394
903,304
1,389,698
236,364
6/1/2012
Baytown
TX
-
447,005
830,152
-
-
447,005
830,152
1,277,157
217,223
6/1/2012
Beaumont
TX
-
526,746
978,243
-
-
526,746
978,243
1,504,989
255,974
6/1/2012
Beaumont
TX
-
186,877
1,007,961
-
-
186,877
1,007,961
1,194,838
257,030
8/30/2012
Beeville
TX
-
382,613
710,566
-
-
382,613
710,566
1,093,179
185,931
6/1/2012
Bloomington
TX
-
330,656
1,074,634
-
-
330,656
1,074,634
1,405,290
256,121
1/22/2013
Blossom
TX
-
82,320
825,297
-
-
82,320
825,297
907,617
210,451
8/30/2012
Borger
TX
589,000
166,456
804,791
-
-
166,456
804,791
971,247
151,569
4/30/2014
Brookshire
TX
863,000
281,120
1,359,173
-
-
281,120
1,359,173
1,640,293
255,978
4/30/2014
Brownsville
TX
-
287,319
533,592
-
-
287,319
533,592
820,911
139,623
6/1/2012
Bullard
TX
600,000
183,822
888,752
-
-
183,822
888,752
1,072,574
167,382
4/30/2014
Canton
TX
-
165,267
1,358,083
-
-
165,267
1,358,083
1,523,350
346,311
8/30/2012
Canyon Lake
TX
-
424,566
788,481
-
-
424,566
788,481
1,213,047
206,319
6/1/2012
Canyon Lake
TX
-
183,707
1,170,581
-
-
183,707
1,170,581
1,354,288
298,498
8/30/2012
Cedar Creek
TX
-
183,296
933,294
-
-
183,296
933,294
1,116,590
237,990
8/30/2012
Cisco
TX
531,000
139,059
1,013,495
-
-
139,059
1,013,495
1,152,554
190,875
4/30/2014
Corpus Christi
TX
-
460,501
855,215
-
-
460,501
855,215
1,315,716
223,781
6/1/2012
Corpus Christi
TX
-
577,037
1,071,640
-
-
577,037
1,071,640
1,648,677
280,412
6/1/2012
Corpus Christi
TX
-
291,106
540,626
-
-
291,106
540,626
831,732
141,464
6/1/2012
Corpus Christi
TX
-
408,524
1,327,703
-
-
408,524
1,327,703
1,736,227
316,436
1/22/2013
Corpus Christi
TX
-
287,912
1,132,648
-
-
287,912
1,132,648
1,420,560
251,070
6/21/2013
Corpus Christi
TX
-
363,669
900,360
-
-
363,669
900,360
1,264,029
178,571
1/24/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Corrigan
TX
-
256,676
834,196
1,514
-
256,676
835,710
1,092,386
200,331
1/22/2013
Cotulla
TX
-
919,863
1,708,316
-
-
919,863
1,708,316
2,628,179
412,843
12/14/2012
Creedmoor
TX
-
490,979
759,793
-
-
490,979
759,793
1,250,772
188,682
10/31/2012
Crystal City
TX
-
549,519
1,020,535
-
-
549,519
1,020,535
1,570,054
246,629
12/14/2012
Dallas
TX
-
660,890
1,227,367
-
-
660,890
1,227,367
1,888,257
321,161
6/1/2012
Dallas
TX
-
474,480
881,177
-
-
474,480
881,177
1,355,657
230,575
6/1/2012
Dallas
TX
-
433,859
1,238,325
-
-
433,859
1,238,325
1,672,184
216,707
8/25/2014
Del Rio
TX
-
507,216
784,918
-
-
507,216
784,918
1,292,134
194,921
10/31/2012
Desoto
TX
-
510,567
790,105
-
-
510,567
790,105
1,300,672
196,209
10/31/2012
Dilley
TX
-
141,101
940,281
-
-
141,101
940,281
1,081,382
186,489
1/24/2014
Eagle Pass
TX
-
516,608
959,416
-
-
516,608
959,416
1,476,024
251,047
6/1/2012
Eagle Pass
TX
-
433,864
671,406
-
-
433,864
671,406
1,105,270
166,732
10/31/2012
East Bernard
TX
577,000
132,881
968,462
-
-
132,881
968,462
1,101,343
182,394
4/30/2014
Edinburg
TX
-
380,000
716,403
-
-
380,000
716,403
1,096,403
142,087
1/24/2014
El Paso
TX
-
270,000
940,688
-
-
270,000
940,688
1,210,688
114,450
12/15/2015
Elsa
TX
-
379,998
1,234,994
-
-
379,998
1,234,994
1,614,992
294,340
1/22/2013
Fort Stockton
TX
-
465,636
864,752
-
-
465,636
864,752
1,330,388
208,982
12/14/2012
Fort Worth
TX
-
547,855
1,019,204
-
-
547,855
1,019,204
1,567,059
259,897
8/30/2012
Fort Worth
TX
-
213,683
848,314
-
-
213,683
848,314
1,061,997
216,320
8/30/2012
Fort Worth
TX
-
600,746
1,115,672
-
6,300
600,746
1,121,972
1,722,718
270,240
12/14/2012
Fort Worth
TX
-
160,563
631,657
110,157
-
160,563
741,814
902,377
142,934
8/15/2013
Freer
TX
-
269,137
499,827
-
-
269,137
499,827
768,964
120,791
12/14/2012
Garland
TX
-
228,333
424,047
-
-
228,333
424,047
652,380
110,959
6/1/2012
Garland
TX
-
298,055
737,916
-
-
298,055
737,916
1,035,971
146,353
1/24/2014
Glen Rose
TX
903,000
269,359
1,302,309
-
-
269,359
1,302,309
1,571,668
245,268
4/30/2014
Glenn Heights
TX
-
297,559
736,686
-
-
297,559
736,686
1,034,245
146,109
1/24/2014
Granite Shoals
TX
-
371,795
1,208,334
-
-
371,795
1,208,334
1,580,129
287,986
1/22/2013
Grape Creek
TX
-
232,999
710,940
-
-
232,999
710,940
943,939
181,290
8/30/2012
Hamilton
TX
626,000
140,174
1,021,615
-
-
140,174
1,021,615
1,161,789
192,404
4/30/2014
Hardin
TX
-
143,336
805,614
-
-
143,336
805,614
948,950
205,432
8/30/2012
Harker Heights
TX
-
488,753
907,685
-
-
488,753
907,685
1,396,438
237,511
6/1/2012
Harker Heights
TX
-
469,370
726,352
-
-
469,370
726,352
1,195,722
180,378
10/31/2012
Hebbronville
TX
-
481,250
893,750
-
-
481,250
893,750
1,375,000
215,990
12/14/2012
Hebbronville
TX
-
240,000
1,014,676
-
-
240,000
1,014,676
1,254,676
201,244
1/24/2014
Hewitt
TX
-
493,299
763,382
-
-
493,299
763,382
1,256,681
189,573
10/31/2012
Hidalgo
TX
-
450,411
1,115,114
-
-
450,411
1,115,114
1,565,525
221,164
1/24/2014
Houston
TX
-
279,181
518,479
-
-
279,181
518,479
797,660
135,669
6/1/2012
Houston
TX
-
434,980
807,819
-
-
434,980
807,819
1,242,799
211,379
6/1/2012
Houston
TX
-
429,081
796,866
-
-
429,081
796,866
1,225,947
208,513
6/1/2012
Houston
TX
-
490,377
910,700
-
-
490,377
910,700
1,401,077
238,300
6/1/2012
Houston
TX
-
565,402
874,961
-
-
565,402
874,961
1,440,363
217,282
10/31/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Houston
TX
-
650,000
866,899
-
-
650,000
866,899
1,516,899
215,280
10/31/2012
Houston
TX
-
562,086
869,831
-
-
562,086
869,831
1,431,917
216,008
10/31/2012
Houston
TX
-
467,805
868,780
-
-
467,805
868,780
1,336,585
209,955
12/14/2012
Houston
TX
-
610,149
1,133,135
-
-
610,149
1,133,135
1,743,284
273,841
12/14/2012
Houston
TX
-
474,480
881,178
-
-
474,480
881,178
1,355,658
212,951
12/14/2012
Houston
TX
-
310,255
1,220,545
-
-
310,255
1,220,545
1,530,800
262,417
8/22/2013
Houston
TX
-
283,623
1,115,777
-
-
283,623
1,115,777
1,399,400
239,892
8/22/2013
Houston
TX
-
440,874
1,091,500
-
-
440,874
1,091,500
1,532,374
216,481
1/24/2014
Houston
TX
-
347,071
986,059
-
-
347,071
986,059
1,333,130
188,995
3/28/2014
Houston
TX
-
411,188
1,025,275
-
-
411,188
1,025,275
1,436,463
42,720
12/28/2017
Houston
TX
-
449,066
1,119,724
-
-
449,066
1,119,724
1,568,790
46,655
12/28/2017
Hubbard
TX
-
128,604
857,007
-
-
128,604
857,007
985,611
169,973
1/24/2014
Iraan
TX
-
207,052
823,848
-
-
207,052
823,848
1,030,900
34,327
12/28/2017
Itasca
TX
543,000
118,010
860,081
-
-
118,010
860,081
978,091
161,982
4/1/2014
Jefferson
TX
-
339,075
1,333,925
-
-
339,075
1,333,925
1,673,000
286,794
8/22/2013
Joaquin
TX
656,000
135,219
985,502
-
-
135,219
985,502
1,120,721
185,603
4/1/2014
Katy
TX
-
554,109
857,486
-
-
554,109
857,486
1,411,595
212,942
10/31/2012
Katy
TX
-
346,827
985,367
-
-
346,827
985,367
1,332,194
205,285
10/11/2013
Kaufman
TX
-
488,687
907,561
-
-
488,687
907,561
1,396,248
237,478
6/1/2012
Kermit
TX
-
234,478
922,439
-
-
234,478
922,439
1,156,917
204,474
6/21/2013
Killeen
TX
-
480,758
892,837
-
-
480,758
892,837
1,373,595
233,626
6/1/2012
Killeen
TX
-
471,572
729,760
-
-
471,572
729,760
1,201,332
181,224
10/31/2012
Killeen
TX
-
380,000
881,852
-
-
380,000
881,852
1,261,852
107,292
12/15/2015
Killeen
TX
-
440,000
830,465
-
-
440,000
830,465
1,270,465
101,040
12/15/2015
Lacy Lakeview
TX
-
429,768
798,141
-
-
429,768
798,141
1,227,909
208,847
6/1/2012
Lakehills
TX
-
183,968
795,341
-
-
183,968
795,341
979,309
202,812
8/30/2012
Lamesa
TX
-
450,012
835,736
-
-
450,012
835,736
1,285,748
218,684
6/1/2012
Leonard
TX
-
277,575
515,496
-
-
277,575
515,496
793,071
134,888
6/1/2012
Llano
TX
804,000
179,332
1,307,011
-
-
179,332
1,307,011
1,486,343
246,154
4/1/2014
Longview
TX
-
435,985
809,687
-
-
435,985
809,687
1,245,672
195,674
12/14/2012
Longview
TX
-
473,119
878,650
-
-
473,119
878,650
1,351,769
212,340
12/14/2012
Longview
TX
-
150,012
278,594
-
-
150,012
278,594
428,606
67,327
12/14/2012
Los Fresnos
TX
-
533,059
989,968
-
-
533,059
989,968
1,523,027
259,041
6/1/2012
Lufkin
TX
-
267,700
497,158
-
-
267,700
497,158
764,858
120,146
12/14/2012
Marfa
TX
-
310,000
1,325,712
-
-
310,000
1,325,712
1,635,712
262,933
1/24/2014
Marshall
TX
-
665,113
1,235,211
-
-
665,113
1,235,211
1,900,324
323,213
6/1/2012
Memphis
TX
461,000
102,312
745,672
-
-
102,312
745,672
847,984
140,435
4/1/2014
Midland
TX
-
544,075
1,322,431
-
-
544,075
1,322,431
1,866,506
1,104,117
2/3/1998
Midland
TX
-
194,594
790,843
-
-
194,594
790,843
985,437
201,665
8/30/2012
Monahans
TX
-
473,723
879,770
-
-
473,723
879,770
1,353,493
212,611
12/14/2012
Monte Alto
TX
-
370,770
1,205,004
-
-
370,770
1,205,004
1,575,774
287,193
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Morton
TX
-
190,918
751,074
-
-
190,918
751,074
941,992
166,488
6/21/2013
Mount Enterprise
TX
-
510,030
947,198
-
-
510,030
947,198
1,457,228
228,906
12/14/2012
Mt Vernon
TX
641,000
132,850
968,238
-
-
132,850
968,238
1,101,088
182,352
4/1/2014
Nacogdoches
TX
-
585,075
1,086,567
-
-
585,075
1,086,567
1,671,642
262,587
12/14/2012
New Boston
TX
-
226,547
420,730
-
-
226,547
420,730
647,277
110,091
6/1/2012
Odessa
TX
-
200,900
874,978
-
-
200,900
874,978
1,075,878
223,119
8/30/2012
Odessa
TX
-
393,275
795,622
-
-
393,275
795,622
1,188,897
202,884
8/30/2012
Odessa
TX
-
299,235
687,360
-
-
299,235
687,360
986,595
175,277
8/30/2012
Onalaska
TX
-
455,522
845,970
-
-
455,522
845,970
1,301,492
204,443
12/14/2012
Orange
TX
-
359,323
1,413,577
-
-
359,323
1,413,577
1,772,900
303,919
8/22/2013
Orange
TX
-
267,166
1,051,034
-
-
267,166
1,051,034
1,318,200
225,972
8/22/2013
Paris
TX
-
194,054
844,235
-
-
194,054
844,235
1,038,289
215,280
8/30/2012
Pasadena
TX
-
274,400
1,079,491
-
-
274,400
1,079,491
1,353,891
239,287
6/21/2013
Pearsall
TX
-
314,465
584,006
-
-
314,465
584,006
898,471
152,815
6/1/2012
Pearsall
TX
-
179,547
938,079
-
-
179,547
938,079
1,117,626
186,052
1/24/2014
Perryton
TX
-
534,489
992,623
-
-
534,489
992,623
1,527,112
239,884
12/14/2012
Pharr
TX
-
506,911
941,407
-
-
506,911
941,407
1,448,318
246,335
6/1/2012
Pinehurst
TX
-
556,823
861,686
-
-
556,823
861,686
1,418,509
213,985
10/31/2012
Pineland
TX
703,000
149,928
1,092,708
-
-
149,928
1,092,708
1,242,636
205,793
4/1/2014
Pittsburg
TX
-
469,724
872,344
-
-
469,724
872,344
1,342,068
228,263
6/1/2012
Port Acres
TX
-
268,899
499,384
-
-
268,899
499,384
768,283
130,672
6/1/2012
Port Arthur
TX
-
253,535
828,487
-
-
253,535
828,487
1,082,022
211,264
8/30/2012
Port Neches
TX
-
498,469
925,729
-
-
498,469
925,729
1,424,198
223,718
12/14/2012
Porter
TX
-
559,462
1,039,001
-
-
559,462
1,039,001
1,598,463
251,092
12/14/2012
Progresso
TX
-
200,597
372,537
-
-
200,597
372,537
573,134
90,030
12/14/2012
Rio Grande City
TX
-
171,514
896,112
-
-
171,514
896,112
1,067,626
177,729
1/24/2014
Rio Vista
TX
-
61,254
829,871
-
-
61,254
829,871
891,125
211,617
8/30/2012
Rockdale
TX
592,000
174,972
845,963
-
-
174,972
845,963
1,020,935
159,323
4/1/2014
Rosenberg
TX
-
408,933
759,448
-
-
408,933
759,448
1,168,381
198,722
6/1/2012
Rusk
TX
-
446,174
828,610
-
-
446,174
828,610
1,274,784
200,247
12/14/2012
Saginaw
TX
-
485,162
901,016
-
-
485,162
901,016
1,386,178
235,766
6/1/2012
San Angelo
TX
-
308,573
1,000,504
-
-
308,573
1,000,504
1,309,077
255,128
8/30/2012
San Antonio
TX
-
663,903
1,232,962
-
-
663,903
1,232,962
1,896,865
322,625
6/1/2012
San Antonio
TX
-
474,828
881,824
-
-
474,828
881,824
1,356,652
230,744
6/1/2012
San Antonio
TX
-
357,827
664,536
-
-
357,827
664,536
1,022,363
173,887
6/1/2012
San Antonio
TX
-
637,451
1,183,837
-
-
637,451
1,183,837
1,821,288
309,771
6/1/2012
San Antonio
TX
-
265,044
818,313
-
-
265,044
818,313
1,083,357
208,670
8/30/2012
San Antonio
TX
-
273,109
896,601
-
-
273,109
896,601
1,169,710
228,633
8/30/2012
San Antonio
TX
-
408,997
1,329,239
-
-
408,997
1,329,239
1,738,236
316,802
1/22/2013
San Antonio
TX
-
325,537
1,280,663
-
-
325,537
1,280,663
1,606,200
275,343
8/22/2013
San Augustine
TX
-
468,018
869,176
-
-
468,018
869,176
1,337,194
210,051
12/14/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
San Benito
TX
-
149,582
781,526
-
-
149,582
781,526
931,108
155,003
1/24/2014
Santa Fe
TX
-
450,685
1,115,790
-
-
450,685
1,115,790
1,566,475
221,298
1/24/2014
Schertz
TX
-
300,878
558,773
-
-
300,878
558,773
859,651
146,212
6/1/2012
Sealy
TX
723,000
213,880
1,034,081
-
-
213,880
1,034,081
1,247,961
194,752
4/1/2014
Seminole
TX
-
103,470
899,122
-
-
103,470
899,122
1,002,592
229,276
8/30/2012
Seminole
TX
-
364,491
1,433,909
-
-
364,491
1,433,909
1,798,400
308,291
8/22/2013
Sherman
TX
-
242,135
449,678
-
-
242,135
449,678
691,813
117,666
6/1/2012
Sullivan City
TX
-
496,544
922,154
-
-
496,544
922,154
1,418,698
222,854
12/14/2012
Taft
TX
-
177,408
926,908
-
-
177,408
926,908
1,104,316
183,837
1/24/2014
Temple
TX
-
248,015
805,588
-
-
248,015
805,588
1,053,603
205,425
8/30/2012
Temple
TX
-
580,869
1,078,758
-
-
580,869
1,078,758
1,659,627
260,700
12/14/2012
Texas City
TX
-
238,472
973,286
-
-
238,472
973,286
1,211,758
248,188
8/30/2012
Three Rivers
TX
-
225,995
1,068,797
-
-
225,995
1,068,797
1,294,792
211,978
1/24/2014
Valley View
TX
-
185,843
878,905
-
-
185,843
878,905
1,064,748
174,316
1/24/2014
Van Horn
TX
707,000
147,318
1,073,686
-
-
147,318
1,073,686
1,221,004
202,211
4/1/2014
Waco
TX
-
527,779
980,161
-
-
527,779
980,161
1,507,940
256,475
6/1/2012
Wells
TX
-
141,780
840,639
-
-
141,780
840,639
982,419
214,363
8/30/2012
Wichita Falls
TX
-
297,454
552,415
-
-
297,454
552,415
849,869
144,549
6/1/2012
Willis
TX
-
664,432
1,233,946
-
-
664,432
1,233,946
1,898,378
322,882
6/1/2012
Wills Point
TX
-
417,304
774,994
-
-
417,304
774,994
1,192,298
187,290
12/14/2012
Wilmer
TX
-
489,576
909,212
-
-
489,576
909,212
1,398,788
219,726
12/14/2012
Winnsboro
TX
-
446,940
830,031
-
-
446,940
830,031
1,276,971
200,591
12/14/2012
Winters
TX
-
50,842
811,377
-
-
50,842
811,377
862,219
206,901
8/30/2012
Zapata
TX
-
249,421
1,303,154
-
-
249,421
1,303,154
1,552,575
258,459
1/24/2014
Kanab
UT
-
563,114
1,045,783
-
-
563,114
1,045,783
1,608,897
273,647
6/1/2012
Mt Pleasant
UT
-
573,530
1,065,126
-
-
573,530
1,065,126
1,638,656
278,708
6/1/2012
Charlotte Ct Hous
VA
-
154,295
1,028,208
-
-
154,295
1,028,208
1,182,503
203,928
1/24/2014
Colonial Heights
VA
-
337,535
1,327,865
-
-
337,535
1,327,865
1,665,400
285,491
8/22/2013
Colonial Heights
VA
-
283,623
1,115,777
-
-
283,623
1,115,777
1,399,400
239,892
8/22/2013
Concord
VA
-
259,997
906,036
-
-
259,997
906,036
1,166,033
231,039
8/30/2012
Craigsville
VA
-
141,713
944,359
-
-
141,713
944,359
1,086,072
187,298
1/24/2014
Danville
VA
-
223,469
879,131
-
-
223,469
879,131
1,102,600
189,013
8/22/2013
Fancy Gap
VA
-
153,509
1,022,966
-
-
153,509
1,022,966
1,176,475
202,888
1/24/2014
Fork Union
VA
-
159,295
1,061,525
-
-
159,295
1,061,525
1,220,820
210,536
1/24/2014
Goshen
VA
-
80,157
831,602
-
-
80,157
831,602
911,759
212,059
8/30/2012
Madison Heights
VA
-
276,413
936,546
-
-
276,413
936,546
1,212,959
238,819
8/30/2012
Mineral
VA
-
202,879
1,059,984
-
-
202,879
1,059,984
1,262,863
210,230
1/24/2014
Onley
VA
-
313,433
582,089
-
-
313,433
582,089
895,522
140,672
12/14/2012
Portsmouth
VA
-
524,294
973,688
-
-
524,294
973,688
1,497,982
254,782
6/1/2012
Rich Creek
VA
-
194,447
940,122
7,500
-
194,447
947,622
1,142,069
180,893
3/25/2014
Richmond
VA
-
709,379
1,317,417
-
-
709,379
1,317,417
2,026,796
344,724
6/1/2012
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Richmond
VA
-
344,912
1,356,888
-
-
344,912
1,356,888
1,701,800
291,731
8/22/2013
Roanoke
VA
-
591,344
1,098,210
-
-
591,344
1,098,210
1,689,554
287,365
6/1/2012
Roanoke
VA
-
655,795
1,217,906
-
-
655,795
1,217,906
1,873,701
294,327
12/14/2012
Roanoke
VA
-
478,904
889,394
-
-
478,904
889,394
1,368,298
214,937
12/14/2012
Shawsville
VA
-
334,624
1,066,596
-
-
334,624
1,066,596
1,401,220
271,982
8/30/2012
Shenandoah
VA
-
192,613
1,006,351
-
-
192,613
1,006,351
1,198,964
199,593
1/24/2014
Spotsylvania
VA
-
300,324
1,181,476
-
-
300,324
1,181,476
1,481,800
254,017
8/22/2013
Stanleytown
VA
-
359,846
668,286
-
-
359,846
668,286
1,028,132
161,502
12/14/2012
Stony Creek
VA
-
237,764
935,366
-
-
237,764
935,366
1,173,130
207,340
6/21/2013
Victoria
VA
-
194,099
914,642
-
-
194,099
914,642
1,108,741
233,234
8/30/2012
Eagle River
WI
-
208,955
388,060
-
-
208,955
388,060
597,015
93,781
12/14/2012
Milwaukee
WI
-
538,419
999,922
-
-
538,419
999,922
1,538,341
261,646
6/1/2012
Milwaukee
WI
-
120,000
664,289
32,249
-
120,000
696,538
816,538
141,700
3/14/2014
Milwaukee
WI
-
359,110
591,334
-
-
359,110
591,334
950,444
85,588
10/9/2015
Spooner
WI
-
564,022
1,047,470
-
-
564,022
1,047,470
1,611,492
274,088
6/1/2012
French Creek
WV
-
270,000
1,162,377
-
-
270,000
1,162,377
1,432,377
141,423
12/15/2015
Lewisburg
WV
-
290,000
1,063,577
-
-
290,000
1,063,577
1,353,577
129,402
12/15/2015
Mount Hope
WV
-
186,300
732,905
-
-
186,300
732,905
919,205
160,018
7/23/2013
Princeton
WV
-
280,344
911,119
8,500
-
280,344
919,619
1,199,963
223,412
1/22/2013
Rock
WV
-
332,222
1,079,721
-
-
332,222
1,079,721
1,411,943
257,333
1/22/2013
Shady Spring
WV
-
204,338
833,689
-
-
204,338
833,689
1,038,027
193,138
3/27/2013
Cheyenne
WY
-
521,603
968,690
-
-
521,603
968,690
1,490,293
253,474
6/1/2012
Cheyenne
WY
-
564,022
1,047,470
-
-
564,022
1,047,470
1,611,492
274,088
6/1/2012
Drug Stores
Atmore
AL
-
1,689,229
4,025,584
-
-
1,689,229
4,025,584
5,714,813
597,128
4/29/2015
Auburn
AL
-
1,696,833
3,901,754
-
-
1,696,833
3,901,754
5,598,587
929,918
1/22/2013
Bessemer
AL
-
913,349
2,269,571
-
-
913,349
2,269,571
3,182,920
389,610
9/30/2014
Huntsville
AL
-
1,971,282
3,528,526
-
-
1,971,282
3,528,526
5,499,808
323,448
9/29/2016
Montgomery
AL
-
1,150,000
1,479,627
100,870
-
1,150,000
1,580,497
2,730,497
824,362
2/9/2005
Northport
AL
-
1,650,000
4,829,538
-
-
1,650,000
4,829,538
6,479,538
716,381
4/29/2015
Tuscaloosa
AL
-
2,000,550
4,371,497
-
-
2,000,550
4,371,497
6,372,047
648,439
4/29/2015
Monticello
AR
-
1,990,000
3,710,723
-
-
1,990,000
3,710,723
5,700,723
550,424
4/29/2015
Van Buren
AR
-
1,328,049
3,008,245
-
-
1,328,049
3,008,245
4,336,294
636,745
9/25/2013
Apache Junction
AZ
-
2,147,586
3,844,103
-
-
2,147,586
3,844,103
5,991,689
352,376
9/29/2016
Chandler
AZ
-
-
3,540,215
-
-
-
3,540,215
3,540,215
843,751
1/22/2013
Chandler
AZ
-
1,086,262
2,460,559
-
-
1,086,262
2,460,559
3,546,821
520,818
9/25/2013
El Mirage
AZ
-
1,179,770
2,672,369
-
-
1,179,770
2,672,369
3,852,139
565,652
9/25/2013
Mesa
AZ
-
1,347,649
3,790,620
-
-
1,347,649
3,790,620
5,138,269
840,254
6/14/2013
Mesa
AZ
-
1,545,555
4,347,285
-
-
1,545,555
4,347,285
5,892,840
963,648
6/14/2013
Phoenix
AZ
-
-
3,381,632
-
-
-
3,381,632
3,381,632
805,956
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Phoenix
AZ
-
1,562,759
4,395,676
-
-
1,562,759
4,395,676
5,958,435
974,375
6/14/2013
Surprise
AZ
-
1,358,528
3,821,220
-
-
1,358,528
3,821,220
5,179,748
847,037
6/14/2013
Tucson
AZ
-
959,875
2,350,208
138,093
-
959,875
2,488,301
3,448,176
607,727
8/10/2012
Bakersfield
CA
-
-
3,501,678
-
-
-
3,501,678
3,501,678
1,523,229
2/26/2008
Blythe
CA
-
-
3,762,216
-
-
-
3,762,216
3,762,216
457,736
12/4/2015
Clearlake
CA
-
780,000
4,571,338
-
-
780,000
4,571,338
5,351,338
556,179
12/4/2015
Encinitas
CA
-
-
3,751,713
-
-
-
3,751,713
3,751,713
1,631,994
2/26/2008
Indio
CA
-
2,205,539
4,096,524
-
-
2,205,539
4,096,524
6,302,063
1,781,987
2/21/2008
Pico Rivera
CA
-
-
4,633,063
-
-
-
4,633,063
4,633,063
1,104,213
1/22/2013
Sacramento
CA
-
1,490,000
3,473,583
-
-
1,490,000
3,473,583
4,963,583
1,140,493
10/22/2010
Salinas
CA
-
1,989,715
3,592,519
-
-
1,989,715
3,592,519
5,582,234
149,688
12/21/2017
Seal Beach
CA
-
-
4,448,814
-
-
-
4,448,814
4,448,814
541,272
12/4/2015
Tracy
CA
-
2,467,993
4,584,246
-
-
2,467,993
4,584,246
7,052,239
2,024,708
12/20/2007
Visalia
CA
-
-
4,333,023
-
-
-
4,333,023
4,333,023
1,032,704
1/22/2013
Colorado Springs
CO
-
1,025,000
1,645,371
36,980
1,025,000
1,682,431
2,707,431
950,232
2/9/2005
Colorado Springs
CO
-
1,547,023
3,504,257
151,037
-
1,547,023
3,655,294
5,202,317
770,092
8/29/2013
Fort Collins
CO
-
1,100,000
1,385,014
-
1,100,000
1,385,093
2,485,093
768,753
2/9/2005
Littleton
CO
-
1,498,300
3,393,892
306,173
-
1,498,300
3,700,065
5,198,365
771,693
8/29/2013
Montrose
CO
-
1,958,248
3,505,195
-
-
1,958,248
3,505,195
5,463,443
321,310
9/29/2016
Boulder
CO
-
426,675
1,199,508
-
-
426,675
1,199,508
1,626,183
1,127,283
1/5/1984
Berlin
CT
-
1,532,460
3,786,614
-
-
1,532,460
3,786,614
5,319,074
725,768
3/31/2014
Branford
CT
-
1,760,000
3,849,409
-
-
1,760,000
3,849,409
5,609,409
737,803
3/31/2014
Millsboro
DE
-
900,000
4,039,490
-
-
900,000
4,039,490
4,939,490
491,471
12/4/2015
Delray Beach
FL
-
4,893,115
3,541,070
-
-
4,893,115
3,541,070
8,434,185
843,955
1/22/2013
Deltona
FL
-
849,162
2,388,495
134,664
849,162
2,523,299
3,372,461
547,775
6/4/2013
Gainesville
FL
-
1,935,853
3,620,924
-
-
1,935,853
3,620,924
5,556,777
862,987
1/22/2013
Jacksonville
FL
-
1,605,187
3,691,020
-
-
1,605,187
3,691,020
5,296,207
879,693
1/22/2013
Milton
FL
-
500,000
1,774,311
-
-
500,000
1,774,311
2,274,311
582,565
10/22/2010
Orlando
FL
-
960,194
2,372,580
14,576
-
960,194
2,387,156
3,347,350
488,309
12/10/2013
Rockledge
FL
-
1,626,972
4,576,292
8,858
-
1,626,972
4,585,150
6,212,122
1,017,645
6/7/2013
Saint Augustine
FL
-
1,442,096
4,056,278
-
-
1,442,096
4,056,278
5,498,374
899,142
6/11/2013
Winter Park
FL
-
1,075,020
1,664,284
-
-
1,075,020
1,664,284
2,739,304
1,350,871
9/30/1998
Acworth
GA
-
1,534,095
3,527,548
-
-
1,534,095
3,527,548
5,061,643
840,732
1/22/2013
Adel
GA
-
500,000
1,056,116
48,524
-
500,000
1,104,640
1,604,640
595,407
4/29/2005
Austell
GA
-
1,234,384
3,610,300
-
-
1,234,384
3,610,300
4,844,684
860,455
1/22/2013
Blackshear
GA
-
430,000
1,005,393
46,950
-
430,000
1,052,343
1,482,343
558,992
4/29/2005
Bowdon
GA
-
410,000
1,010,615
68,692
-
410,000
1,079,306
1,489,306
558,554
4/29/2005
Columbus
GA
-
1,740,000
5,024,581
1,175
-
1,740,000
5,025,756
6,765,756
1,114,606
6/14/2013
Decatur
GA
-
1,546,047
3,555,032
64,645
-
1,546,047
3,619,677
5,165,724
871,273
1/22/2013
East Ellijay
GA
-
1,317,709
3,029,984
-
-
1,317,709
3,029,984
4,347,693
722,146
1/22/2013
Lawrenceville
GA
-
1,109,742
3,121,445
71,737
-
1,109,742
3,193,182
4,302,924
708,676
6/28/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Lithia Springs
GA
-
1,543,512
3,549,202
-
-
1,543,512
3,549,202
5,092,714
845,893
1/22/2013
Quitman
GA
-
730,000
856,586
-
-
730,000
856,586
1,586,586
475,397
2/9/2005
Rome
GA
-
-
3,389,465
-
-
-
3,389,465
3,389,465
807,823
1/22/2013
Rome
GA
-
1,293,890
3,639,408
-
-
1,293,890
3,639,408
4,933,298
806,735
6/12/2013
Cairo
GA
-
330,000
1,152,243
54,608
-
330,000
1,206,851
1,536,851
639,896
4/29/2005
Altoona
IA
-
1,440,000
3,440,755
-
-
1,440,000
3,440,755
4,880,755
315,403
9/29/2016
Iowa City
IA
-
1,892,972
3,388,354
-
-
1,892,972
3,388,354
5,281,326
310,599
9/29/2016
Ottumwa
IA
-
1,687,561
3,880,433
-
-
1,687,561
3,880,433
5,567,994
924,837
1/22/2013
Waterloo
IA
-
1,760,000
4,023,600
-
-
1,760,000
4,023,600
5,783,600
596,834
4/29/2015
Blackfoot
ID
-
560,000
1,932,186
60,641
-
560,000
1,992,827
2,552,827
1,079,303
2/9/2005
Burley
ID
-
700,000
2,011,543
62,154
-
700,000
2,073,697
2,773,697
1,123,520
2/9/2005
Chubbuck
ID
-
890,000
1,267,183
52,044
-
890,000
1,319,227
2,209,227
709,025
2/9/2005
Calumet City
IL
-
1,434,290
2,589,674
-
-
1,434,290
2,589,674
4,023,964
107,903
12/27/2017
Chicago
IL
-
1,589,068
2,841,507
171,423
-
1,589,068
3,012,930
4,601,998
797,651
6/29/2012
Chicago
IL
-
1,462,870
3,735,267
-
-
1,462,870
3,735,267
5,198,137
890,239
1/22/2013
Chicago
IL
-
1,744,950
3,952,594
54,218
-
1,744,950
4,006,813
5,751,763
842,379
9/3/2013
Chicago
IL
-
1,584,794
4,502,544
-
-
1,584,794
4,502,544
6,087,338
923,022
11/12/2013
Chicago Heights
IL
-
1,272,921
3,580,429
40,798
-
1,272,921
3,621,227
4,894,148
797,982
6/4/2013
Darien
IL
-
1,198,099
3,369,971
34,303
-
1,198,099
3,404,274
4,602,373
761,859
5/31/2013
Deerfield
IL
-
4,092,687
11,511,770
-
-
4,092,687
11,511,770
15,604,457
1,767,879
8/27/2013
Deerfield
IL
-
4,261,874
11,987,653
-
-
4,261,874
11,987,653
16,249,527
1,840,961
8/27/2013
Deerfield
IL
-
4,082,432
11,482,923
-
-
4,082,432
11,482,923
15,565,355
1,763,449
8/27/2013
Deerfield
IL
-
4,089,453
11,502,673
-
-
4,089,453
11,502,673
15,592,126
1,766,482
8/27/2013
Deerfield
IL
-
2,586,157
7,274,253
-
-
2,586,157
7,274,253
9,860,410
1,117,117
8/27/2013
Deerfield
IL
-
3,180,926
8,947,200
-
-
3,180,926
8,947,200
12,128,126
1,374,034
8/27/2013
Dolton
IL
-
1,860,000
4,204,975
-
-
1,860,000
4,204,975
6,064,975
427,506
6/30/2016
East Peoria
IL
-
1,217,434
2,532,652
-
-
1,217,434
2,532,652
3,750,086
257,486
6/30/2016
Maryville
IL
-
780,685
2,344,436
-
-
780,685
2,344,436
3,125,121
730,683
3/16/2011
Moline
IL
-
1,104,813
3,748,707
-
-
1,104,813
3,748,707
4,853,520
893,442
1/22/2013
Oak Forest
IL
-
1,562,490
4,394,918
-
-
1,562,490
4,394,918
5,957,408
974,207
6/6/2013
Pekin
IL
-
897,200
1,866,462
-
-
897,200
1,866,462
2,763,662
189,757
6/30/2016
Peoria
IL
-
867,025
1,803,689
-
-
867,025
1,803,689
2,670,714
183,375
6/30/2016
Plainfield
IL
-
1,463,785
3,365,876
-
-
1,463,785
3,365,876
4,829,661
802,200
1/22/2013
Rolling Meadows
IL
-
1,841,588
3,325,069
-
-
1,841,588
3,325,069
5,166,657
138,545
12/27/2017
Springfield
IL
-
1,343,188
3,778,072
82,178
-
1,343,188
3,860,250
5,203,438
850,313
6/7/2013
Springfield
IL
-
1,227,859
3,453,680
-
-
1,227,859
3,453,680
4,681,539
765,566
6/11/2013
Troy
IL
-
768,515
1,991,358
-
-
768,515
1,991,358
2,759,873
620,640
3/16/2011
Anderson
IN
-
937,591
2,123,795
-
937,591
2,124,170
3,061,761
449,562
9/11/2013
Aurora
IN
-
980,000
2,521,122
-
980,000
2,521,497
3,501,497
298,356
1/5/2016
Chesterton
IN
-
616,498
4,930,886
-
-
616,498
4,930,886
5,547,384
1,175,194
1/22/2013
Elkhart
IN
-
1,772,161
4,074,966
-
-
1,772,161
4,074,966
5,847,127
971,200
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Fort Wayne
IN
-
1,814,885
3,965,792
-
-
1,814,885
3,965,792
5,780,677
588,259
4/29/2015
Fort Wayne
IN
-
1,163,111
2,419,644
-
1,163,111
2,420,019
3,583,130
246,022
6/30/2016
Fort Wayne
IN
-
1,319,890
2,745,793
-
-
1,319,890
2,745,793
4,065,683
279,156
6/30/2016
Fort Wayne
IN
-
1,710,000
3,014,685
-
-
1,710,000
3,014,685
4,724,685
276,346
9/29/2016
Hammond
IN
-
667,821
2,656,839
667,821
2,657,264
3,325,085
712,976
4/12/2012
Indianapolis
IN
-
1,630,000
5,235,915
-
-
1,630,000
5,235,915
6,865,915
1,160,628
6/4/2013
Indianapolis
IN
-
1,123,685
3,160,662
-
-
1,123,685
3,160,662
4,284,347
700,613
6/28/2013
Indianapolis
IN
-
2,008,387
2,996,556
-
-
2,008,387
2,996,556
5,004,943
94,891
3/29/2018
Kokomo
IN
-
978,592
2,216,668
145,551
-
978,592
2,362,219
3,340,811
491,037
9/11/2013
La Porte
IN
-
1,765,195
3,959,682
-
-
1,765,195
3,959,682
5,724,877
587,353
4/29/2015
Logansport
IN
-
903,696
2,245,585
76,549
-
903,696
2,322,134
3,225,830
377,413
12/30/2014
Marion
IN
-
1,247,236
3,508,184
-
-
1,247,236
3,508,184
4,755,420
777,647
6/27/2013
Monticello
IN
-
694,032
1,952,148
175,768
-
694,032
2,127,916
2,821,948
488,603
6/7/2013
Monticello
IN
-
1,430,000
4,425,257
-
-
1,430,000
4,425,257
5,855,257
656,413
4/29/2015
New Haven
IN
-
1,140,000
2,764,616
-
-
1,140,000
2,764,616
3,904,616
281,069
6/30/2016
Princeton
IN
-
2,033,742
4,676,454
-
-
2,033,742
4,676,454
6,710,196
1,114,555
1/22/2013
Salem
IN
-
-
2,351,296
-
-
-
2,351,296
2,351,296
1,163,891
8/16/2006
South Bend
IN
-
1,665,544
4,684,786
-
1,665,544
4,684,800
6,350,344
1,038,470
6/4/2013
Emporia
KS
-
2,035,321
4,447,479
-
-
2,035,321
4,447,479
6,482,800
659,709
4/29/2015
Hutchinson
KS
-
1,456,992
3,620,465
-
-
1,456,992
3,620,465
5,077,457
585,308
12/23/2014
Kansas City
KS
-
1,290,000
5,192,800
-
-
1,290,000
5,192,800
6,482,800
770,265
4/29/2015
Liberal
KS
-
2,000,000
3,595,400
-
-
2,000,000
3,595,400
5,595,400
329,578
9/29/2016
Merriam
KS
-
1,441,117
4,053,526
379,032
-
1,441,117
4,432,557
5,873,674
900,111
6/4/2013
Newton
KS
-
1,340,000
3,335,460
-
-
1,340,000
3,335,460
4,675,460
539,233
12/23/2014
Parsons
KS
-
2,090,000
4,248,446
-
-
2,090,000
4,248,446
6,338,446
630,186
4/29/2015
Lebanon
KY
-
1,718,716
4,095,853
-
-
1,718,716
4,095,853
5,814,569
607,552
4/29/2015
Louisville
KY
-
2,386,891
4,017,753
-
-
2,386,891
4,017,753
6,404,644
957,564
1/22/2013
Louisville
KY
-
1,785,691
4,106,077
-
-
1,785,691
4,106,077
5,891,768
978,615
1/22/2013
Louisville
KY
-
1,565,241
3,947,885
-
-
1,565,241
3,947,885
5,513,126
940,913
1/22/2013
Louisville
KY
-
2,540,000
3,918,593
-
-
2,540,000
3,918,593
6,458,593
581,258
4/29/2015
Mayfield
KY
-
1,782,381
4,098,467
-
-
1,782,381
4,098,467
5,880,848
976,801
1/22/2013
Paducah
KY
-
1,792,850
4,021,718
-
-
1,792,850
4,021,718
5,814,568
596,555
4/29/2015
Radcliff
KY
-
1,305,607
3,960,699
-
-
1,305,607
3,960,699
5,266,306
943,967
1/22/2013
Amite
LA
-
1,633,328
3,755,728
-
-
1,633,328
3,755,728
5,389,056
895,115
1/22/2013
Gretna
LA
-
3,570,000
5,037,780
-
-
3,570,000
5,037,780
8,607,780
864,819
9/30/2014
Morgan City
LA
-
1,378,894
3,170,675
-
-
1,378,894
3,170,675
4,549,569
755,677
1/22/2013
Pineville
LA
-
1,527,708
3,593,739
-
-
1,527,708
3,593,739
5,121,447
569,009
1/7/2015
Brockton
MA
-
1,420,000
5,586,439
-
-
1,420,000
5,586,439
7,006,439
1,070,734
3/31/2014
Melrose
MA
-
2,450,000
5,344,307
-
-
2,450,000
5,344,307
7,794,307
1,024,326
3/31/2014
Baltimore
MD
-
-
3,545,162
-
-
-
3,545,162
3,545,162
431,328
12/4/2015
Elkton
MD
-
1,751,013
3,252,546
-
-
1,751,013
3,252,546
5,003,559
1,414,856
2/21/2008
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Laurel
MD
-
-
2,400,696
-
-
-
2,400,696
2,400,696
1,188,344
8/16/2006
Biddeford
ME
-
-
3,587,125
-
-
-
3,587,125
3,587,125
854,931
1/22/2013
Brewer
ME
-
2,030,000
4,935,503
-
-
2,030,000
4,935,503
6,965,503
1,094,037
6/6/2013
Farmington
ME
-
1,310,995
3,687,522
-
-
1,310,995
3,687,522
4,998,517
817,401
6/12/2013
Lisbon
ME
-
1,403,949
3,948,979
-
-
1,403,949
3,948,979
5,352,928
875,357
6/13/2013
Machias
ME
-
1,250,032
3,516,047
-
-
1,250,032
3,516,047
4,766,079
779,390
6/5/2013
Portland
ME
-
2,100,849
3,902,402
-
-
2,100,849
3,902,402
6,003,251
1,723,560
12/20/2007
Belleville
MI
-
1,091,638
1,971,002
-
-
1,091,638
1,971,002
3,062,640
82,125
12/27/2017
Belleville
MI
-
601,228
1,217,670
-
-
601,228
1,217,670
1,818,898
18,265
8/17/2018
Charlotte
MI
-
466,474
3,640,666
-
-
466,474
3,640,666
4,107,140
867,692
1/22/2013
Dearborn
MI
-
2,170,000
4,413,371
-
-
2,170,000
4,413,371
6,583,371
654,650
4/29/2015
Gladwin
MI
-
1,365,747
2,536,910
-
-
1,365,747
2,536,910
3,902,657
1,103,555
2/21/2008
Jackson
MI
-
2,140,000
4,436,052
-
-
2,140,000
4,436,052
6,576,052
470,010
4/29/2015
Macomb
MI
-
1,084,185
3,049,559
-
-
1,084,185
3,049,559
4,133,744
675,986
6/25/2013
Metamora
MI
-
859,139
2,291,557
-
-
859,139
2,291,557
3,150,696
1,134,321
8/16/2006
Mount Pleasant
MI
2,560,353
879,419
3,713,692
-
-
879,419
3,713,692
4,593,111
885,097
1/22/2013
Northville
MI
-
982,099
3,849,614
-
-
982,099
3,849,614
4,831,713
917,491
1/22/2013
Norton Shores
MI
-
2,046,387
4,471,658
-
-
2,046,387
4,471,658
6,518,045
663,296
4/29/2015
Port Huron
MI
-
1,908,747
4,281,697
-
-
1,908,747
4,281,697
6,190,444
635,118
4/29/2015
Portage
MI
-
1,640,000
4,489,124
-
-
1,640,000
4,489,124
6,129,124
665,887
4/29/2015
Rockwood
MI
-
972,962
2,736,715
57,643
-
972,962
2,794,358
3,767,320
615,610
6/25/2013
Romulus
MI
-
755,647
1,530,415
-
-
755,647
1,530,415
2,286,062
22,956
8/17/2018
Royal Oak
MI
-
2,550,000
4,382,053
-
-
2,550,000
4,382,053
6,932,053
650,004
4/29/2015
Taylor
MI
-
2,092,605
4,572,653
-
-
2,092,605
4,572,653
6,665,258
678,277
4/29/2015
Troy
MI
-
3,184,828
-
9,976
-
3,184,828
9,976
3,194,804
6,658
6/27/2013
Washington Townsh
MI
-
1,028,277
2,892,301
-
-
1,028,277
2,892,301
3,920,578
641,127
6/25/2013
Brooklyn Park
MN
-
-
4,106,753
-
-
-
4,106,753
4,106,753
978,776
1/22/2013
Cloquet
MN
-
1,220,000
5,151,588
-
-
1,220,000
5,151,588
6,371,588
1,141,935
6/7/2013
Grand Rapids
MN
3,312,017
499,111
4,072,537
-
-
499,111
4,072,537
4,571,648
970,621
1/22/2013
Blue Springs
MO
-
1,716,297
2,856,069
-
-
1,716,297
2,856,069
4,572,366
90,442
3/29/2018
Dellwood
MO
-
766,461
2,438,272
-
-
766,461
2,438,272
3,204,733
759,928
3/16/2011
Des Peres
MO
-
2,280,000
3,811,179
-
-
2,280,000
3,811,179
6,091,179
349,358
9/29/2016
Farmington
MO
-
1,580,000
5,184,052
-
-
1,580,000
5,184,052
6,764,052
1,149,131
6/27/2013
Harrisonville
MO
-
1,473,335
3,387,834
-
-
1,473,335
3,387,834
4,861,169
807,434
1/22/2013
Kansas City
MO
-
1,875,478
4,207,068
-
-
1,875,478
4,207,068
6,082,546
624,048
4/29/2015
Lees Summit
MO
-
2,005,545
3,589,855
-
-
2,005,545
3,589,855
5,595,400
329,070
9/29/2016
Rolla
MO
-
1,893,125
3,388,626
-
-
1,893,125
3,388,626
5,281,751
310,624
9/29/2016
St Louis
MO
-
2,270,000
4,066,675
-
-
2,270,000
4,066,675
6,336,675
372,779
9/29/2016
St. John
MO
-
2,300,000
3,824,235
-
-
2,300,000
3,824,235
6,124,235
567,262
4/29/2015
St. Joseph
MO
-
1,293,855
3,639,311
-
-
1,293,855
3,639,311
4,933,166
806,714
6/7/2013
St. Louis
MO
-
744,817
2,300,087
-
-
744,817
2,300,087
3,044,904
716,860
3/16/2011
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
St. Louis
MO
-
1,117,749
3,143,966
-
-
1,117,749
3,143,966
4,261,715
696,912
6/14/2013
St. Louis
MO
-
2,190,000
5,109,166
-
-
2,190,000
5,109,166
7,299,166
1,132,532
6/27/2013
Wildwood
MO
-
681,200
2,649,759
12,946
-
681,200
2,662,706
3,343,906
827,325
3/16/2011
Byram
MS
-
1,243,088
3,425,993
-
-
1,243,088
3,425,993
4,669,081
816,528
1/22/2013
Flowood
MS
-
1,828,528
3,995,605
-
-
1,828,528
3,995,605
5,824,133
592,681
4/29/2015
Forest
MS
-
-
2,991,069
-
-
-
2,991,069
2,991,069
712,871
1/22/2013
Greenwood
MS
-
520,000
3,480,407
-
-
520,000
3,480,407
4,000,407
388,645
3/29/2016
Jackson
MS
-
1,749,695
4,347,797
-
-
1,749,695
4,347,797
6,097,492
746,372
9/30/2014
Philadelphia
MS
-
1,390,000
3,636,895
-
-
1,390,000
3,636,895
5,026,895
333,382
9/29/2016
Picayune
MS
-
1,721,543
4,102,591
-
-
1,721,543
4,102,591
5,824,134
608,551
4/29/2015
Kalispell
MT
-
1,890,000
3,629,051
-
-
1,890,000
3,629,051
5,519,051
538,309
4/29/2015
Asheville
NC
-
-
3,118,366
-
-
-
3,118,366
3,118,366
743,211
1/22/2013
Charlotte
NC
-
923,616
2,092,139
36,891
-
923,616
2,129,030
3,052,646
468,324
9/27/2013
Creedmoor
NC
-
1,280,821
2,945,163
-
-
1,280,821
2,945,163
4,225,984
701,931
1/22/2013
High Point
NC
-
1,573,851
4,426,874
-
-
1,573,851
4,426,874
6,000,725
981,290
6/11/2013
Holly Springs
NC
-
1,451,019
3,336,520
-
-
1,451,019
3,336,520
4,787,539
795,204
1/22/2013
Roanoke Rapids
NC
-
1,103,934
2,538,422
-
-
1,103,934
2,538,422
3,642,356
604,991
1/22/2013
Walkertown
NC
-
1,351,535
3,107,765
-
-
1,351,535
3,107,765
4,459,300
740,684
1/22/2013
Whiteville
NC
-
630,049
2,183,384
-
-
630,049
2,183,384
2,813,433
178,310
12/13/2016
Grand Island
NE
-
1,730,000
3,792,128
-
-
1,730,000
3,792,128
5,522,128
562,499
4/29/2015
Omaha
NE
-
1,782,721
3,895,510
-
-
1,782,721
3,895,510
5,678,231
577,834
4/29/2015
Omaha
NE
-
1,651,643
3,229,112
-
-
1,651,643
3,229,112
4,880,755
296,002
9/29/2016
South Sioux City
NE
-
1,789,238
3,202,672
-
-
1,789,238
3,202,672
4,991,910
293,578
9/29/2016
Derry
NH
-
1,210,000
4,443,660
-
-
1,210,000
4,443,660
5,653,660
851,702
3/31/2014
Dover
NH
-
1,844,188
4,556,875
-
-
1,844,188
4,556,875
6,401,063
873,401
3/31/2014
Plaistow
NH
-
940,000
4,421,512
-
-
940,000
4,421,512
5,361,512
980,102
6/14/2013
Carlstadt
NJ
-
2,630,000
4,733,522
-
-
2,630,000
4,733,522
7,363,522
812,588
9/30/2014
Hamilton Township
NJ
-
1,712,024
2,766,975
-
-
1,712,024
2,766,975
4,478,999
115,291
12/27/2017
Jackson
NJ
-
1,060,000
3,040,000
-
-
1,060,000
3,040,000
4,100,000
369,867
12/4/2015
Ledgewood
NJ
-
2,060,000
5,490,100
-
-
2,060,000
5,490,100
7,550,100
1,052,269
3/31/2014
Mount Ephraim
NJ
-
2,410,000
5,039,976
-
-
2,410,000
5,039,976
7,449,976
965,995
3/31/2014
Sewell
NJ
-
1,510,000
4,969,996
-
-
1,510,000
4,969,996
6,479,996
952,583
3/31/2014
Farmington
NM
-
1,652,630
4,106,603
-
-
1,652,630
4,106,603
5,759,233
704,967
9/30/2014
Carson City
NV
-
800,000
2,770,950
94,862
-
800,000
2,865,812
3,665,812
1,547,553
2/9/2005
Reno
NV
-
1,100,000
2,602,911
74,159
1,100,000
2,677,245
3,777,245
1,449,567
2/9/2005
Reno
NV
-
850,000
2,306,647
74,159
-
850,000
2,380,806
3,230,806
1,284,966
2/9/2005
Reno
NV
-
-
3,951,105
-
-
-
3,951,105
3,951,105
941,680
1/22/2013
Sun Valley
NV
-
550,000
2,678,380
82,500
-
550,000
2,760,880
3,310,880
1,491,816
2/9/2005
Sparks
NV
-
1,000,000
2,271,513
-
-
1,000,000
2,271,513
3,271,513
1,260,681
2/9/2005
Angola
NY
-
1,644,457
3,781,320
-
-
1,644,457
3,781,320
5,425,777
901,215
1/22/2013
Auburn
NY
-
1,319,171
4,557,735
-
-
1,319,171
4,557,735
5,876,906
1,086,260
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Brooklyn
NY
-
-
3,169,829
-
-
-
3,169,829
3,169,829
755,476
1/22/2013
Brooklyn
NY
-
6,286,888
3,091,053
-
-
6,286,888
3,091,053
9,377,941
736,701
1/22/2013
Cohoes
NY
-
993,687
2,284,916
65,415
-
993,687
2,350,331
3,344,018
548,950
1/22/2013
Flushing
NY
-
-
2,844,843
-
-
-
2,844,843
2,844,843
678,021
1/22/2013
Greece
NY
-
1,530,625
4,305,290
-
-
1,530,625
4,305,290
5,835,915
954,339
6/12/2013
Jamaica
NY
-
-
3,265,890
-
-
-
3,265,890
3,265,890
778,370
1/22/2013
Le Roy
NY
-
664,571
4,160,651
-
-
664,571
4,160,651
4,825,222
991,622
1/22/2013
Macedon
NY
-
1,010,000
2,650,110
-
-
1,010,000
2,650,110
3,660,110
322,430
12/29/2015
Olean
NY
-
940,000
2,626,150
-
-
940,000
2,626,150
3,566,150
293,253
3/30/2016
Ontario
NY
-
650,000
4,099,160
-
-
650,000
4,099,160
4,749,160
498,731
12/4/2015
Patchogue
NY
-
1,717,702
5,188,982
-
-
1,717,702
5,188,982
6,906,684
1,236,707
1/22/2013
Penn Yan
NY
-
843,439
3,784,664
-
-
843,439
3,784,664
4,628,103
902,012
1/22/2013
Plattsburgh
NY
-
2,122,505
4,610,552
-
-
2,122,505
4,610,552
6,733,057
1,098,848
1/22/2013
Ridgewood
NY
-
6,872,644
3,221,483
-
-
6,872,644
3,221,483
10,094,127
767,787
1/22/2013
Rochester
NY
-
495,551
3,585,587
-
-
495,551
3,585,587
4,081,138
854,565
1/22/2013
Rochester
NY
-
-
4,562,079
-
-
-
4,562,079
4,562,079
1,087,295
1/22/2013
Saint Albans
NY
-
6,550,000
4,455,729
-
-
6,550,000
4,455,729
11,005,729
987,687
6/26/2013
Stony Point
NY
-
2,340,671
4,770,714
-
-
2,340,671
4,770,714
7,111,385
1,137,020
1/22/2013
Syracuse
NY
-
1,474,646
4,898,244
-
-
1,474,646
4,898,244
6,372,890
1,167,415
1/22/2013
Wilton
NY
-
1,763,372
4,054,756
-
-
1,763,372
4,054,756
5,818,128
966,384
1/22/2013
Cadiz
OH
-
904,795
2,080,515
47,152
-
904,795
2,127,667
3,032,462
503,698
1/22/2013
Carrollton
OH
-
1,001,306
2,302,436
50,139
-
1,001,306
2,352,575
3,353,881
549,291
1/22/2013
Centerville
OH
-
1,971,631
4,308,306
-
-
1,971,631
4,308,306
6,279,937
639,065
4/29/2015
Columbus
OH
-
1,153,997
3,245,924
-
-
1,153,997
3,245,924
4,399,921
719,513
6/13/2013
Columbus
OH
-
2,580,000
4,383,667
-
-
2,580,000
4,383,667
6,963,667
650,244
4/29/2015
Cortland
OH
-
1,440,000
1,364,725
1,250
-
1,440,000
1,365,975
2,805,975
758,664
2/9/2005
East Liverpool
OH
-
958,357
2,203,679
55,758
-
958,357
2,259,437
3,217,794
534,670
1/22/2013
Franklin
OH
-
1,320,000
4,322,403
-
-
1,320,000
4,322,403
5,642,403
641,156
4/29/2015
Lakewood
OH
-
1,873,535
4,202,711
-
-
1,873,535
4,202,711
6,076,246
623,402
4/29/2015
Liberty Township
OH
-
1,892,611
4,135,636
-
-
1,892,611
4,135,636
6,028,247
613,453
4/29/2015
Lisbon
OH
-
706,599
1,624,777
45,482
-
706,599
1,670,259
2,376,858
394,975
1/22/2013
Madison
OH
-
580,000
1,272,742
-
580,000
1,273,117
1,853,117
697,906
4/29/2005
Mansfield
OH
-
1,653,932
3,803,106
-
-
1,653,932
3,803,106
5,457,038
906,407
1/22/2013
Marysville
OH
-
1,654,400
3,804,182
-
-
1,654,400
3,804,182
5,458,582
906,663
1/22/2013
Mayfield Heights
OH
-
-
2,703,730
-
-
-
2,703,730
2,703,730
1,176,122
2/21/2008
Reynoldsburg
OH
-
1,286,721
3,619,244
284,151
-
1,286,721
3,903,395
5,190,116
832,955
6/7/2013
Reynoldsburg
OH
-
1,844,354
3,605,879
-
-
1,844,354
3,605,879
5,450,233
330,539
9/29/2016
Sidney
OH
-
1,359,676
3,198,465
26,300
-
1,359,676
3,224,765
4,584,441
507,793
1/7/2015
Upper Arlington
OH
-
3,010,646
5,513,043
-
-
3,010,646
5,513,043
8,523,689
1,313,942
1/22/2013
Warren
OH
-
960,000
1,326,083
-
-
960,000
1,326,083
2,286,083
735,967
2/9/2005
Warren
OH
-
800,000
1,241,503
-
-
800,000
1,241,503
2,041,503
689,025
2/9/2005
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Willowick
OH
-
530,000
1,241,308
-
530,000
1,241,683
1,771,683
680,670
4/29/2005
Catoosa
OK
-
1,893,125
3,388,626
-
-
1,893,125
3,388,626
5,281,751
310,624
9/29/2016
Edmond
OK
-
946,988
-
-
100,000
946,988
100,000
1,046,988
13,535
6/27/2013
El Reno
OK
-
670,000
3,457,967
-
-
670,000
3,457,967
4,127,967
559,038
12/23/2014
Enid
OK
-
1,873,096
3,352,776
-
-
1,873,096
3,352,776
5,225,872
307,338
9/29/2016
Midwest City
OK
-
1,560,000
4,215,560
-
-
1,560,000
4,215,560
5,775,560
625,308
4/29/2015
Moore
OK
-
1,309,620
2,919,423
-
-
1,309,620
2,919,423
4,229,043
326,002
3/30/2016
Oklahoma City
OK
-
1,700,000
3,525,872
-
-
1,700,000
3,525,872
5,225,872
323,205
9/29/2016
Ponca City
OK
-
1,247,744
3,100,506
-
-
1,247,744
3,100,506
4,348,250
532,254
9/30/2014
Tulsa
OK
-
813,500
7,207
-
-
813,500
7,207
820,707
2,105
5/3/2013
Warr Acres
OK
-
1,813,278
3,962,282
-
-
1,813,278
3,962,282
5,775,560
587,739
4/29/2015
Redmond
OR
-
2,120,000
4,351,271
-
-
2,120,000
4,351,271
6,471,271
529,405
12/4/2015
Beaver
PA
-
1,933,000
3,003,160
-
-
1,933,000
3,003,160
4,936,160
1,326,395
12/20/2007
Carlisle
PA
-
1,687,948
3,881,323
-
-
1,687,948
3,881,323
5,569,271
925,048
1/22/2013
Delmont
PA
-
720,000
1,246,023
10,850
-
720,000
1,256,873
1,976,873
702,034
2/9/2005
Emmaus
PA
-
1,568,237
4,411,084
-
-
1,568,237
4,411,084
5,979,321
977,790
6/20/2013
Export
PA
-
710,000
1,666,912
60,831
-
710,000
1,727,743
2,437,743
931,937
2/9/2005
Girard
PA
-
-
1,544,191
-
-
1,544,566
1,544,566
1,452,554
2/9/2005
Harrisburg
PA
-
2,100,000
3,400,000
-
-
2,100,000
3,400,000
5,500,000
413,667
12/4/2015
Imperial
PA
-
1,255,750
2,995,001
-
-
1,255,750
2,995,001
4,250,751
1,482,525
8/16/2006
Johnstown
PA
-
600,000
2,010,255
-
600,000
2,010,630
2,610,630
1,115,708
2/9/2005
Norristown
PA
-
-
3,603,611
-
-
-
3,603,611
3,603,611
1,567,569
2/21/2008
Philadelphia
PA
-
-
3,803,732
-
-
-
3,803,732
3,803,732
1,654,622
2/26/2008
Phoenixville
PA
-
3,510,000
5,123,285
-
-
3,510,000
5,123,285
8,633,285
1,135,662
6/5/2013
Pittsburgh
PA
-
2,784,426
5,002,215
-
-
2,784,426
5,002,215
7,786,641
1,192,195
1/22/2013
Prospect Park
PA
-
1,471,814
2,657,427
-
-
1,471,814
2,657,427
4,129,241
110,726
12/27/2017
Reading
PA
-
1,400,000
3,304,996
-
-
1,400,000
3,304,996
4,704,996
1,437,672
2/21/2008
Saint Marys
PA
-
1,663,632
3,090,403
-
-
1,663,632
3,090,403
4,754,035
1,364,928
12/20/2007
Slippery Rock
PA
-
-
1,505,254
-
-
1,505,629
1,505,629
1,427,540
2/9/2005
Uniontown
PA
-
1,617,507
4,549,669
-
-
1,617,507
4,549,669
6,167,176
1,008,510
6/11/2013
Wexford
PA
-
2,300,000
2,606,080
-
-
2,300,000
2,606,080
4,906,080
1,133,644
2/21/2008
Yeadon
PA
-
-
3,253,285
-
-
-
3,253,285
3,253,285
1,436,867
12/20/2007
Johnstown
PA
-
250,000
2,593,436
-
-
250,000
2,593,436
2,843,436
1,439,348
2/9/2005
Woonsocket
RI
-
1,297,497
2,939,041
-
-
1,297,497
2,939,041
4,236,538
631,894
8/1/2013
Anderson
SC
-
852,425
1,673,739
-
-
852,425
1,673,739
2,526,164
8,369
11/7/2018
Columbia
SC
-
1,430,093
3,288,404
-
-
1,430,093
3,288,404
4,718,497
783,736
1/22/2013
Conway
SC
-
-
3,451,662
-
-
-
3,451,662
3,451,662
822,646
1/22/2013
Rapid City
SD
-
1,699,906
3,323,470
-
-
1,699,906
3,323,470
5,023,376
304,651
9/29/2016
Athens
TN
-
1,650,000
3,842,297
-
-
1,650,000
3,842,297
5,492,297
569,941
4/29/2015
Bartlett
TN
-
1,563,355
3,677,593
-
-
1,563,355
3,677,593
5,240,948
582,286
1/7/2015
Brownsville
TN
-
1,490,000
3,683,903
-
-
1,490,000
3,683,903
5,173,903
546,446
4/29/2015
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Chattanooga
TN
-
1,090,783
2,695,258
96,674
-
1,090,783
2,791,932
3,882,715
539,787
1/9/2014
Chattanooga
TN
-
844,737
1,757,323
13,450
-
844,737
1,770,773
2,615,510
173,428
7/19/2016
Colonial Heights
TN
-
1,837,294
4,014,760
-
-
1,837,294
4,014,760
5,852,054
595,523
4/29/2015
Fayetteville
TN
-
1,490,000
4,127,381
-
-
1,490,000
4,127,381
5,617,381
612,228
4/29/2015
Franklin
TN
-
754,510
2,122,261
72,087
-
754,510
2,194,348
2,948,858
479,743
6/6/2013
Hixson
TN
-
973,733
2,406,034
123,779
-
973,733
2,529,812
3,503,545
482,029
1/9/2014
Lawrenceburg
TN
-
1,633,403
3,892,546
-
-
1,633,403
3,892,546
5,525,949
577,394
4/29/2015
Madisonville
TN
-
1,160,000
3,656,303
-
-
1,160,000
3,656,303
4,816,303
335,161
9/29/2016
Memphis
TN
-
350,000
2,783,909
51,560
-
350,000
2,835,469
3,185,469
574,956
1/9/2014
Soddy Daisy
TN
-
1,726,295
3,090,008
-
-
1,726,295
3,090,008
4,816,303
283,251
9/29/2016
White House
TN
-
1,649,422
3,930,720
-
-
1,649,422
3,930,720
5,580,142
583,057
4/29/2015
Austin
TX
-
1,623,904
3,734,059
-
-
1,623,904
3,734,059
5,357,963
889,950
1/22/2013
Coppell
TX
-
1,076,551
3,097,830
-
-
1,076,551
3,097,830
4,174,381
738,316
1/22/2013
Houston
TX
-
1,268,978
3,569,338
91,874
-
1,268,978
3,661,212
4,930,190
800,399
6/11/2013
Houston
TX
-
2,860,000
3,490,686
-
-
2,860,000
3,490,686
6,350,686
552,692
1/7/2015
Houston
TX
-
1,481,177
2,450,082
-
-
1,481,177
2,450,082
3,931,259
151,088
6/27/2017
Houston
TX
-
1,399,755
3,289,424
-
-
1,399,755
3,289,424
4,689,179
104,165
3/29/2018
Lubbock
TX
-
973,713
2,738,827
102,393
-
973,713
2,841,219
3,814,932
611,036
6/5/2013
Odessa
TX
-
2,670,000
4,437,377
-
-
2,670,000
4,437,377
7,107,377
406,760
9/29/2016
Richardson
TX
-
1,085,220
3,092,350
-
-
1,085,220
3,092,350
4,177,570
97,924
3/29/2018
Saginaw
TX
-
1,727,698
3,851,409
-
-
1,727,698
3,851,409
5,579,107
430,074
3/30/2016
Sealy
TX
-
1,514,567
3,482,644
-
-
1,514,567
3,482,644
4,997,211
830,030
1/22/2013
Victoria
TX
-
1,969,399
3,850,355
-
-
1,969,399
3,850,355
5,819,754
352,949
9/29/2016
Wichita Falls
TX
-
1,331,410
3,131,974
-
-
1,331,410
3,131,974
4,463,384
495,896
1/16/2015
Fredericksburg
VA
-
-
2,901,815
-
-
-
2,901,815
2,901,815
1,262,288
2/21/2008
King George
VA
-
1,772,216
4,075,092
-
-
1,772,216
4,075,092
5,847,308
971,230
1/22/2013
Richmond
VA
-
1,255,931
3,103,326
92,118
-
1,255,931
3,195,444
4,451,375
629,857
1/16/2014
Richmond
VA
-
1,388,198
3,255,705
91,059
-
1,388,198
3,346,764
4,734,962
470,256
6/30/2015
Burlington
VT
-
2,049,745
4,643,003
-
-
2,049,745
4,643,003
6,692,748
1,013,722
7/19/2013
N/A
Graham
WA
-
1,396,502
3,928,032
-
-
1,396,502
3,928,032
5,324,534
870,714
6/4/2013
Lynnwood
WA
-
1,410,480
3,967,350
-
-
1,410,480
3,967,350
5,377,830
879,429
6/28/2013
Mount Vernon
WA
-
-
3,785,303
-
-
-
3,785,303
3,785,303
460,545
12/4/2015
Puyallup
WA
-
1,835,489
4,535,379
-
-
1,835,489
4,535,379
6,370,868
914,635
12/11/2013
Antigo
WI
-
1,540,000
4,754,008
-
-
1,540,000
4,754,008
6,294,008
705,178
4/29/2015
Burlington
WI
-
1,330,000
3,994,665
-
-
1,330,000
3,994,665
5,324,665
366,178
9/29/2016
Glendale
WI
-
1,690,491
3,305,064
-
-
1,690,491
3,305,064
4,995,555
302,964
9/29/2016
Kaukauna
WI
-
1,893,714
4,138,045
-
-
1,893,714
4,138,045
6,031,759
613,810
4/29/2015
Marshfield
WI
-
1,010,000
4,175,525
-
-
1,010,000
4,175,525
5,185,525
382,757
9/29/2016
Mauston
WI
-
1,505,223
3,819,442
-
-
1,505,223
3,819,442
5,324,665
350,116
9/29/2016
Menomonee Falls
WI
-
2,180,000
4,235,106
-
-
2,180,000
4,235,106
6,415,106
628,207
4/29/2015
Menomonie
WI
-
2,200,000
3,831,758
-
-
2,200,000
3,831,758
6,031,758
568,378
4/29/2015
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Milwaukee
WI
-
1,830,000
4,128,507
-
-
1,830,000
4,128,507
5,958,507
612,395
4/29/2015
Milwaukee
WI
-
1,801,861
3,522,803
-
-
1,801,861
3,522,803
5,324,664
322,924
9/29/2016
Monona
WI
-
1,135,636
2,806,085
-
-
1,135,636
2,806,085
3,941,721
565,894
12/17/2013
Racine
WI
-
1,976,049
4,317,960
-
-
1,976,049
4,317,960
6,294,009
640,497
4/29/2015
Two Rivers
WI
-
1,280,000
4,776,734
-
-
1,280,000
4,776,734
6,056,734
708,549
4/29/2015
Wisconsin Rapids
WI
-
1,893,714
4,138,045
-
-
1,893,714
4,138,045
6,031,759
613,810
4/29/2015
Buckhannon
WV
-
1,716,898
3,189,190
-
-
1,716,898
3,189,190
4,906,088
1,387,296
2/21/2008
Huntington
WV
-
1,085,818
3,802,536
-
-
1,085,818
3,802,536
4,888,354
906,271
1/22/2013
Rock Springs
WY
-
1,970,000
4,644,222
-
-
1,970,000
4,644,222
6,614,222
688,893
4/29/2015
Education
Peoria
AZ
-
281,750
625,779
69,854
18,665
281,750
714,299
996,049
708,230
3/30/1988
Corona
CA
-
144,856
671,584
-
26,846
144,856
698,430
843,286
698,430
12/19/1984
N/A
Santee
CA
-
248,418
551,748
37,230
29,831
248,418
618,808
867,226
586,911
7/23/1987
Coconut Creek
FL
-
310,111
1,243,682
-
-
310,111
1,243,682
1,553,793
964,140
12/1/1998
Las Vegas
NV
-
1,080,444
3,346,772
-
1,080,444
3,346,845
4,427,289
2,783,375
3/4/1998
Beaverton
OR
-
135,148
626,647
-
26,949
135,148
653,596
788,744
653,596
12/17/1986
N/A
Memphis
TN
-
238,263
504,897
183,216
5,352
238,263
693,465
931,728
526,037
9/29/1988
Arlington
TX
-
195,650
387,355
9,289
195,650
396,748
592,398
392,292
2/7/1991
Austin
TX
-
238,000
528,604
90,133
22,315
238,000
641,052
879,052
619,348
4/6/1989
Mesquite
TX
-
1,049,287
1,949,085
233,921
63,743
1,049,287
2,246,749
3,296,036
1,545,098
3/28/2002
Southlake
TX
-
228,279
511,750
-
25,283
228,279
537,032
765,311
537,032
3/10/1993
N/A
Sugar Land
TX
-
1,600,000
6,300,995
-
-
1,600,000
6,300,995
7,900,995
3,160,996
6/28/2006
Chantilly
VA
-
688,917
3,208,607
-
-
688,917
3,208,607
3,897,524
2,450,390
9/30/1998
Kingstowne
VA
-
300,000
1,191,396
-
-
300,000
1,191,396
1,491,396
883,920
11/8/1999
Electric Utilities
Fairfield
CA
-
1,450,000
9,209,989
-
-
1,450,000
9,209,989
10,659,989
1,415,152
8/30/2013
Entertainment
Riverside
CA
-
7,383,015
-
-
7,383,015
7,383,145
7/5/2002
Vista
CA
-
2,300,000
-
-
2,300,000
2,300,022
3/31/1999
Manchester
CT
-
1,250,464
5,917,037
7,082
-
1,250,464
5,924,119
7,174,583
4,924,522
3/26/1998
Marietta
GA
-
1,500,000
-
-
1,500,000
1,500,768
6/29/2001
Norcross
GA
-
1,600,000
-
-
1,600,000
1,600,768
6/29/2001
Greensboro
NC
-
4,000,000
-
-
4,000,000
4,000,463
7/5/2002
Omaha
NE
-
1,956,296
3,949,402
208,052
140,128
1,956,296
4,297,582
6,253,878
3,703,423
4/4/1997
Calverton
NY
-
6,200,000
-
-
6,200,000
6,200,744
7/23/1999
Medford
NY
-
1,500,000
-
-
1,500,000
1,500,745
7/23/1999
Arlington
TX
-
1,330,000
2,776,647
-
-
1,330,000
2,776,647
4,106,647
476,658
9/11/2014
San Antonio
TX
-
1,310,000
1,920,140
-
-
1,310,000
1,920,140
3,230,140
336,025
8/6/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Equipment Services
Lake Worth
FL
-
679,079
1,262,568
9,754
679,079
1,272,462
1,951,541
781,784
7/3/2003
Novi
MI
-
430,000
6,661,063
-
-
430,000
6,661,063
7,091,063
880,212
5/9/2014
Cameron
MO
-
940,000
18,280,524
623,644
-
940,000
18,904,167
19,844,167
3,180,068
6/25/2013
Sanford
NC
7,292,428
226,784
15,056,005
39,175
-
226,784
15,095,180
15,321,964
3,795,841
9/25/2012
Elko
NV
-
1,401,115
10,342,501
17,091
-
1,401,115
10,359,592
11,760,707
3,235,064
3/15/2011
Lewisville
TX
-
1,010,134
1,877,384
-
-
1,010,134
1,877,384
2,887,518
1,160,849
7/3/2003
Financial Services
Phoenix
AZ
-
245,137
456,324
-
-
245,137
456,324
701,461
198,501
2/1/2008
El Cajon
CA
-
1,620,871
-
-
-
1,620,871
-
1,620,871
-
6/19/2014
N/A
Turlock
CA
-
222,250
493,627
9,911
19,400
222,250
522,938
745,188
513,641
12/30/1987
Colorado Springs
CO
-
313,250
695,730
40,500
313,250
736,309
1,049,559
736,309
3/10/1987
N/A
Fort Myers
FL
-
1,025,624
2,407,011
-
-
1,025,624
2,407,011
3,432,635
573,671
1/22/2013
Orlando
FL
-
532,556
940,177
-
-
532,556
940,177
1,472,733
468,586
12/15/2005
Palm Coast
FL
-
713,370
2,421,133
-
-
713,370
2,421,133
3,134,503
577,037
1/22/2013
Plantation
FL
-
1,160,000
1,049,443
-
-
1,160,000
1,049,443
2,209,443
208,140
1/31/2014
Pompano Beach
FL
-
1,563,202
2,354,641
-
-
1,563,202
2,354,641
3,917,843
561,189
1/22/2013
Acworth
GA
-
650,000
992,950
-
-
650,000
992,950
1,642,950
196,935
1/31/2014
Alpharetta
GA
-
940,000
1,305,410
-
-
940,000
1,305,410
2,245,410
258,906
1/31/2014
Hinesville
GA
-
172,611
383,376
48,800
3,796
172,611
435,973
608,584
408,603
12/22/1987
Coeur D Alene
ID
-
165,900
368,468
-
-
165,900
368,468
534,368
368,468
9/21/1987
N/A
Addison
IL
-
205,794
1,138,488
-
-
205,794
1,138,488
1,344,282
96,771
11/9/2016
Addison
IL
-
206,518
1,142,496
-
-
206,518
1,142,496
1,349,014
97,112
11/9/2016
Aurora
IL
-
255,961
1,416,021
-
-
255,961
1,416,021
1,671,982
120,362
11/9/2016
Aurora
IL
-
345,808
1,913,072
-
-
345,808
1,913,072
2,258,880
162,611
11/9/2016
Aurora
IL
-
276,403
1,529,109
-
-
276,403
1,529,109
1,805,512
129,974
11/9/2016
Bartlett
IL
-
192,765
1,632,081
-
-
192,765
1,632,081
1,824,846
35,362
6/29/2018
Bensenville
IL
-
295,732
1,636,044
-
-
295,732
1,636,044
1,931,776
139,064
11/9/2016
Bolingbrook
IL
-
201,048
1,112,232
-
-
201,048
1,112,232
1,313,280
94,540
11/9/2016
Buffalo Grove
IL
-
204,350
1,130,501
-
-
204,350
1,130,501
1,334,851
96,093
11/9/2016
Calumet City
IL
-
158,237
875,395
-
-
158,237
875,395
1,033,632
74,409
11/9/2016
Carpentersville
IL
-
1,752,080
-
-
-
1,752,080
-
1,752,080
-
1/22/2013
N/A
Carpentersville
IL
-
289,337
1,600,663
-
-
289,337
1,600,663
1,890,000
136,056
11/9/2016
Cary
IL
-
478,057
1,623,383
-
-
478,057
1,623,383
2,101,440
137,988
11/9/2016
Chicago
IL
-
1,110,000
816,582
-
-
1,110,000
816,582
1,926,582
69,409
11/9/2016
Chicago
IL
-
486,595
780,424
-
-
486,595
780,424
1,267,019
16,909
6/29/2018
Chicago
IL
-
470,909
1,374,693
-
-
470,909
1,374,693
1,845,602
29,785
6/29/2018
Chicago Heights
IL
-
155,048
857,752
-
-
155,048
857,752
1,012,800
72,909
11/9/2016
Crete
IL
-
430,000
1,224,782
-
-
430,000
1,224,782
1,654,782
104,107
11/9/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Des Plaines
IL
-
278,273
1,539,455
-
-
278,273
1,539,455
1,817,728
130,854
11/9/2016
Flossmoor
IL
-
375,378
660,863
-
-
375,378
660,863
1,036,241
14,319
6/29/2018
Fox Lake
IL
-
178,690
988,542
-
-
178,690
988,542
1,167,232
84,026
11/9/2016
Frankfort
IL
-
335,057
1,853,591
-
-
335,057
1,853,591
2,188,648
157,555
11/9/2016
Frankfort
IL
-
200,460
1,108,980
-
-
200,460
1,108,980
1,309,440
94,263
11/9/2016
Hoffman Estates
IL
-
171,507
948,808
-
-
171,507
948,808
1,120,315
80,649
11/9/2016
Hoffman Estates
IL
-
173,804
961,511
-
-
173,804
961,511
1,135,315
81,729
11/9/2016
Homer Glen
IL
-
335,399
1,855,483
-
-
335,399
1,855,483
2,190,882
157,716
11/9/2016
Homewood
IL
-
262,700
1,453,300
-
-
262,700
1,453,300
1,716,000
123,530
11/9/2016
Huntley
IL
-
229,618
1,270,286
-
-
229,618
1,270,286
1,499,904
107,974
11/9/2016
Huntley
IL
-
254,359
1,407,161
-
-
254,359
1,407,161
1,661,520
119,609
11/9/2016
La Grange
IL
-
210,000
1,117,079
-
-
210,000
1,117,079
1,327,079
94,952
11/9/2016
Machesney Park
IL
-
279,211
1,544,642
-
-
279,211
1,544,642
1,823,853
131,295
11/9/2016
Montgomery
IL
-
1,636,238
-
-
-
1,636,238
-
1,636,238
-
1/22/2013
N/A
Mount Prospect
IL
-
236,444
1,308,052
-
-
236,444
1,308,052
1,544,496
111,184
11/9/2016
Mundelein
IL
-
212,178
1,173,804
-
-
212,178
1,173,804
1,385,982
99,773
11/9/2016
Naperville
IL
-
321,687
1,779,628
-
-
321,687
1,779,628
2,101,315
151,268
11/9/2016
Naperville
IL
-
87,533
484,246
-
-
87,533
484,246
571,779
41,161
11/9/2016
New Lenox
IL
-
226,751
1,254,429
-
-
226,751
1,254,429
1,481,180
106,626
11/9/2016
Niles
IL
-
285,484
1,579,348
-
-
285,484
1,579,348
1,864,832
134,245
11/9/2016
North Riverside
IL
-
346,333
1,176,076
-
-
346,333
1,176,076
1,522,409
99,966
11/9/2016
Northlake
IL
-
1,461,799
-
-
-
1,461,799
-
1,461,799
-
1/22/2013
N/A
Oak Lawn
IL
-
2,052,944
2,383,995
21,000
41,052
2,052,944
2,446,047
4,498,991
599,839
1/22/2013
Oak Lawn
IL
-
503,500
1,709,780
-
-
503,500
1,709,780
2,213,280
145,331
11/9/2016
Orland Park
IL
-
208,095
1,151,220
-
-
208,095
1,151,220
1,359,315
97,854
11/9/2016
Orland Park
IL
-
173,038
957,277
-
-
173,038
957,277
1,130,315
81,369
11/9/2016
Orland Park
IL
-
639,010
1,510,088
-
-
639,010
1,510,088
2,149,098
32,719
6/29/2018
Oswego
IL
-
224,272
1,240,710
-
-
224,272
1,240,710
1,464,982
105,460
11/9/2016
Palos Heights
IL
-
276,603
1,530,213
-
-
276,603
1,530,213
1,806,816
130,068
11/9/2016
Plainfield
IL
-
254,604
1,408,511
-
-
254,604
1,408,511
1,663,115
119,724
11/9/2016
Plainfield
IL
-
98,242
543,491
-
-
98,242
543,491
641,733
46,197
11/9/2016
Plainfield
IL
-
659,472
1,558,445
-
-
659,472
1,558,445
2,217,917
33,766
6/29/2018
Rockford
IL
-
275,523
651,108
-
-
275,523
651,108
926,631
14,107
6/29/2018
Romeoville
IL
-
82,070
454,026
-
-
82,070
454,026
536,096
38,592
11/9/2016
Round Lake Hghts
IL
-
301,660
1,668,836
-
-
301,660
1,668,836
1,970,496
141,851
11/9/2016
Schaumburg
IL
-
3,252,143
-
-
-
3,252,143
-
3,252,143
-
1/22/2013
N/A
Schaumburg
IL
-
410,019
2,268,296
-
-
410,019
2,268,296
2,678,315
192,805
11/9/2016
Schaumburg
IL
-
298,389
1,650,743
-
-
298,389
1,650,743
1,949,132
140,313
11/9/2016
Shorewood
IL
-
60,000
466,592
-
-
60,000
466,592
526,592
39,660
11/9/2016
South Elgin
IL
-
250,348
1,384,967
-
-
250,348
1,384,967
1,635,315
117,722
11/9/2016
Stickney
IL
-
743,660
1,363,377
-
-
743,660
1,363,377
2,107,037
324,938
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Summit
IL
-
238,157
1,317,523
-
-
238,157
1,317,523
1,555,680
111,989
11/9/2016
Villa Park
IL
-
231,531
1,280,869
-
-
231,531
1,280,869
1,512,400
108,874
11/9/2016
West Dundee
IL
-
279,836
1,548,100
-
-
279,836
1,548,100
1,827,936
131,588
11/9/2016
Woodstock
IL
-
160,000
1,480,600
-
-
160,000
1,480,600
1,640,600
120,916
12/2/2016
Brownsburg
IN
-
421,854
996,913
-
-
421,854
996,913
1,418,767
21,600
6/29/2018
East Chicago
IN
-
348,810
756,724
-
-
348,810
756,724
1,105,534
16,396
6/29/2018
Greenwood
IN
-
180,120
645,731
-
-
180,120
645,731
825,851
13,991
6/29/2018
Greenwood
IN
-
218,993
517,518
-
-
218,993
517,518
736,511
11,213
6/29/2018
Indianapolis
IN
-
289,640
684,469
-
-
289,640
684,469
974,109
14,830
6/29/2018
Indianapolis
IN
-
202,675
772,635
-
-
202,675
772,635
975,310
16,740
6/29/2018
Indianapolis
IN
-
247,138
584,028
-
-
247,138
584,028
831,166
12,654
6/29/2018
Merrillville
IN
-
446,988
1,056,310
-
-
446,988
1,056,310
1,503,298
22,887
6/29/2018
Munster
IN
-
238,890
564,539
-
-
238,890
564,539
803,429
12,232
6/29/2018
Noblesville
IN
-
145,062
1,065,296
-
-
145,062
1,065,296
1,210,358
23,081
6/29/2018
Noblesville
IN
-
202,425
771,684
-
-
202,425
771,684
974,109
16,720
6/29/2018
Schererville
IN
-
130,877
309,283
-
-
130,877
309,283
440,160
6,701
6/29/2018
Tipton
IN
-
95,730
1,296,604
-
-
95,730
1,296,604
1,392,334
28,093
6/29/2018
Valparaiso
IN
-
219,270
518,172
-
-
219,270
518,172
737,442
11,227
6/29/2018
Shawnee
KS
-
360,231
656,521
-
-
360,231
656,521
1,016,752
14,225
6/29/2018
Centerville
MA
-
378,555
1,220,743
-
-
378,555
1,220,743
1,599,298
290,944
1/22/2013
Chatham
MA
-
513,702
1,656,556
-
-
513,702
1,656,556
2,170,258
394,813
1/22/2013
Duxbury
MA
-
411,113
1,325,735
-
-
411,113
1,325,735
1,736,848
315,967
1/22/2013
Hanover
MA
-
434,396
1,400,817
-
-
434,396
1,400,817
1,835,213
333,861
1/22/2013
Hull
MA
-
242,499
781,996
-
-
242,499
781,996
1,024,495
186,376
1/22/2013
Middleborough
MA
-
625,848
724,941
-
-
625,848
724,941
1,350,789
172,778
1/22/2013
Orleans
MA
-
496,997
1,602,690
-
-
496,997
1,602,690
2,099,687
381,974
1/22/2013
Pembroke
MA
-
520,463
1,678,359
-
-
520,463
1,678,359
2,198,822
400,009
1/22/2013
Plymouth
MA
-
555,446
7,109,710
-
-
555,446
7,109,710
7,665,156
1,694,481
1/22/2013
Quincy
MA
-
289,121
539,719
50,595
15,595
289,121
605,909
895,030
287,938
8/30/2007
Randolph
MA
-
530,316
1,710,132
-
-
530,316
1,710,132
2,240,448
407,582
1/22/2013
Rockland
MA
-
1,341,048
6,112,682
-
-
1,341,048
6,112,682
7,453,730
1,456,856
1/22/2013
Sagamore Beach
MA
-
620,188
1,155,007
-
-
620,188
1,155,007
1,775,195
525,511
8/30/2007
Scituate
MA
-
403,299
1,300,535
-
-
403,299
1,300,535
1,703,834
309,961
1/22/2013
South Yarmouth
MA
-
477,020
1,538,269
-
-
477,020
1,538,269
2,015,289
366,621
1/22/2013
West Dennis
MA
-
1,065,353
898,827
-
-
1,065,353
898,827
1,964,180
214,220
1/22/2013
Wollaston
MA
-
411,366
766,745
9,827
34,313
411,366
810,885
1,222,251
351,542
8/30/2007
Brockton
MA
-
229,846
741,196
-
-
229,846
741,196
971,042
176,652
1/22/2013
Hyannis
MA
-
830,700
2,678,796
-
-
830,700
2,678,796
3,509,496
638,446
1/22/2013
Middleborough
MA
-
1,225,841
3,953,025
-
-
1,225,841
3,953,025
5,178,866
942,138
1/22/2013
Bloomington
MN
-
1,023,717
1,806,861
-
-
1,023,717
1,806,861
2,830,578
39,149
6/29/2018
Burnsville
MN
-
394,941
933,312
-
-
394,941
933,312
1,328,253
20,222
6/29/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Lakeville
MN
-
440,899
1,041,919
-
-
440,899
1,041,919
1,482,818
22,575
6/29/2018
Woodbury
MN
-
609,547
1,440,464
-
-
609,547
1,440,464
2,050,011
31,210
6/29/2018
Chesterfield
MO
-
421,255
995,497
-
-
421,255
995,497
1,416,752
21,569
6/29/2018
St. Louis
MO
-
345,958
1,471,234
-
-
345,958
1,471,234
1,817,192
31,877
6/29/2018
St. Louis
MO
-
545,875
1,289,995
-
-
545,875
1,289,995
1,835,870
27,950
6/29/2018
Blue Springs
MO
-
222,569
494,333
-
-
222,569
494,333
716,902
494,333
7/31/1989
N/A
Wilmington
NC
-
470,000
995,035
-
-
470,000
995,035
1,465,035
197,349
1/31/2014
Bloomfield
NJ
-
392,983
1,267,269
-
-
392,983
1,267,269
1,660,252
302,032
1/22/2013
Branchburg
NJ
-
376,597
1,214,429
-
-
376,597
1,214,429
1,591,026
289,439
1/22/2013
Cedar Grove
NJ
-
409,890
1,321,792
-
-
409,890
1,321,792
1,731,682
315,027
1/22/2013
Clementon
NJ
-
424,795
1,369,857
-
-
424,795
1,369,857
1,794,652
326,483
1/22/2013
Dayton
NJ
-
376,731
1,214,861
-
-
376,731
1,214,861
1,591,592
289,542
1/22/2013
Deptford
NJ
-
308,425
994,592
-
-
308,425
994,592
1,303,017
237,044
1/22/2013
East Brunswick
NJ
-
445,430
1,436,398
-
-
445,430
1,436,398
1,881,828
342,342
1/22/2013
Fairfield
NJ
-
612,188
1,974,149
-
-
612,188
1,974,149
2,586,337
470,505
1/22/2013
Fanwood
NJ
-
376,731
1,214,861
-
-
376,731
1,214,861
1,591,592
289,542
1/22/2013
Garfield
NJ
-
372,910
1,202,541
-
-
372,910
1,202,541
1,575,451
286,606
1/22/2013
Green Brook
NJ
-
319,003
1,028,702
-
-
319,003
1,028,702
1,347,705
245,174
1/22/2013
Haddonfield
NJ
-
312,763
1,008,581
-
-
312,763
1,008,581
1,321,344
240,379
1/22/2013
Kearny
NJ
-
278,653
898,584
-
-
278,653
898,584
1,177,237
214,163
1/22/2013
Lawrenceville
NJ
-
459,146
1,480,629
-
-
459,146
1,480,629
1,939,775
352,883
1/22/2013
Mahwah
NJ
-
253,447
817,302
-
-
253,447
817,302
1,070,749
194,790
1/22/2013
Martinsville
NJ
-
447,368
1,442,647
-
-
447,368
1,442,647
1,890,015
343,831
1/22/2013
Millstone Townshi
NJ
-
270,310
871,681
-
-
270,310
871,681
1,141,991
207,751
1/22/2013
Mountain Lakes
NJ
-
531,890
887,417
-
-
531,890
887,417
1,419,307
211,501
1/22/2013
Northvale
NJ
-
259,002
835,217
-
-
259,002
835,217
1,094,219
199,060
1/22/2013
Orange
NJ
-
450,522
1,452,819
-
-
450,522
1,452,819
1,903,341
346,255
1/22/2013
Parlin
NJ
-
345,431
1,113,926
-
-
345,431
1,113,926
1,459,357
265,486
1/22/2013
Paterson
NJ
-
122,722
395,747
-
-
122,722
395,747
518,469
94,320
1/22/2013
Paterson
NJ
-
469,318
639,560
-
-
469,318
639,560
1,108,878
152,428
1/22/2013
Pompton Plains
NJ
-
226,298
729,755
-
-
226,298
729,755
956,053
173,925
1/22/2013
Raritan
NJ
-
370,127
1,193,564
-
-
370,127
1,193,564
1,563,691
284,466
1/22/2013
Tenafly
NJ
-
463,499
1,494,667
-
-
463,499
1,494,667
1,958,166
356,229
1/22/2013
Vineland
NJ
-
236,628
763,064
-
-
236,628
763,064
999,692
181,864
1/22/2013
West Orange
NJ
-
259,916
838,164
-
-
259,916
838,164
1,098,080
199,762
1/22/2013
Woodland Park
NJ
-
206,695
666,539
-
-
206,695
666,539
873,234
158,858
1/22/2013
West Orange
NJ
-
174,486
562,673
-
-
174,486
562,673
737,159
134,104
1/22/2013
Westwood
NJ
-
205,094
661,375
-
-
205,094
661,375
866,469
157,628
1/22/2013
Albuquerque
NM
-
80,500
178,794
8,003
-
80,500
186,797
267,297
186,797
10/29/1987
N/A
Santa Fe
NM
-
70,000
155,473
-
-
70,000
155,473
225,473
155,473
10/29/1987
N/A
Stony Point
NY
-
950,455
2,963,243
-
-
950,455
2,963,243
3,913,698
706,239
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Beachwood
OH
-
980,000
1,062,628
-
-
980,000
1,062,628
2,042,628
210,754
1/31/2014
Columbus
OH
-
214,737
85,425
25,900
5,330
214,737
116,656
331,393
73,213
9/17/2004
Dublin
OH
-
2,399,969
17,044,099
-
-
2,399,969
17,044,099
19,444,068
5,312,077
3/31/2011
Euclid
OH
-
130,000
1,027,248
-
-
130,000
1,027,248
1,157,248
203,738
1/31/2014
Groveport
OH
-
277,198
445,497
53,191
11,520
277,198
510,208
787,406
439,559
12/21/1995
Mentor
OH
-
350,000
1,276,241
-
-
350,000
1,276,241
1,626,241
253,121
1/31/2014
Milford
OH
-
314,484
269,997
23,209
8,576
314,484
301,782
616,266
246,539
9/18/1997
Pepper Pike
OH
-
530,000
865,808
-
-
530,000
865,808
1,395,808
171,719
1/31/2014
Shaker Heights
OH
-
650,000
792,759
-
-
650,000
792,759
1,442,759
157,231
1/31/2014
West Chester
OH
-
618,270
1,055,888
-
-
618,270
1,055,888
1,674,158
251,653
1/22/2013
Ambler
PA
-
1,374,943
4,862,810
-
-
1,374,943
4,862,810
6,237,753
1,158,970
1/22/2013
Clarks Summit
PA
-
165,407
533,394
-
-
165,407
533,394
698,801
127,126
1/22/2013
Dillsburg
PA
-
157,114
506,653
-
-
157,114
506,653
663,767
120,752
1/22/2013
Harleysville
PA
-
1,486,141
16,590,526
-
-
1,486,141
16,590,526
18,076,667
3,954,075
1/22/2013
Lansdale
PA
-
582,679
1,878,990
-
-
582,679
1,878,990
2,461,669
447,826
1/22/2013
Lansford
PA
-
724,643
2,336,788
-
-
724,643
2,336,788
3,061,431
556,934
1/22/2013
Lehighton
PA
-
353,743
1,140,729
-
-
353,743
1,140,729
1,494,472
271,874
1/22/2013
Limerick
PA
-
1,198,208
1,141,397
-
-
1,198,208
1,141,397
2,339,605
272,033
1/22/2013
Media
PA
-
93,870
302,705
-
-
93,870
302,705
396,575
72,145
1/22/2013
Media
PA
-
312,084
1,006,391
-
-
312,084
1,006,391
1,318,475
239,856
1/22/2013
North Wales
PA
-
658,040
2,122,012
-
-
658,040
2,122,012
2,780,052
505,746
1/22/2013
Palmerton
PA
-
1,152,944
3,717,949
-
-
1,152,944
3,717,949
4,870,893
886,111
1/22/2013
Philadelphia
PA
-
680,814
938,913
-
-
680,814
938,913
1,619,727
223,774
1/22/2013
Philadelphia
PA
-
287,110
925,857
-
-
287,110
925,857
1,212,967
220,663
1/22/2013
Philadelphia
PA
-
300,032
967,528
-
-
300,032
967,528
1,267,560
230,594
1/22/2013
Philadelphia
PA
-
200,022
645,020
-
-
200,022
645,020
845,042
153,730
1/22/2013
Philadelphia
PA
-
130,580
421,086
-
-
130,580
421,086
551,666
100,359
1/22/2013
Philadelphia
PA
-
270,560
872,488
-
-
270,560
872,488
1,143,048
207,943
1/22/2013
Pittsburgh
PA
-
203,808
657,230
-
-
203,808
657,230
861,038
156,640
1/22/2013
Sellersville
PA
-
436,843
1,408,706
-
-
436,843
1,408,706
1,845,549
335,742
1/22/2013
Skippack
PA
-
484,437
1,562,185
-
-
484,437
1,562,185
2,046,622
372,321
1/22/2013
Slatington
PA
-
467,608
1,507,917
-
-
467,608
1,507,917
1,975,525
359,387
1/22/2013
Slatington
PA
-
1,331,882
4,294,979
-
-
1,331,882
4,294,979
5,626,861
1,023,637
1/22/2013
Somerset
PA
-
369,856
1,192,691
-
-
369,856
1,192,691
1,562,547
284,258
1/22/2013
Summit Hill
PA
-
94,816
2,266,101
-
-
94,816
2,266,101
2,360,917
540,087
1/22/2013
Swarthmore
PA
-
165,423
533,447
-
-
165,423
533,447
698,870
127,138
1/22/2013
Tannersville
PA
-
277,284
894,170
-
-
277,284
894,170
1,171,454
213,110
1/22/2013
Walnutport
PA
-
1,068,012
1,437,132
-
-
1,068,012
1,437,132
2,505,144
342,516
1/22/2013
Warren
PA
-
253,725
818,198
-
-
253,725
818,198
1,071,923
195,004
1/22/2013
Wyomissing
PA
-
553,724
1,785,618
-
-
553,724
1,785,618
2,339,342
425,572
1/22/2013
Blairsville
PA
-
297,140
958,202
(719,292
)
-
297,140
238,910
536,050
232,303
1/22/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Mount Pleasant
SC
13,800,000
10,803,051
25,511,279
-
-
10,803,051
25,511,279
36,314,330
4,342,992
1/22/2013
Lubbock
TX
-
49,000
108,831
57,941
6,264
49,000
173,036
222,036
157,565
10/29/1987
Pasadena
TX
-
385,199
716,468
-
-
385,199
716,468
1,101,667
311,663
2/1/2008
Antigo
WI
-
424,327
547,274
-
-
424,327
547,274
971,601
11,858
6/29/2018
Appleton
WI
-
265,269
1,467,513
-
-
265,269
1,467,513
1,732,782
124,739
11/9/2016
Ashland
WI
-
400,000
1,490,432
-
-
400,000
1,490,432
1,890,432
126,687
11/9/2016
Beloit
WI
-
174,840
754,900
-
-
174,840
754,900
929,740
16,356
6/29/2018
Brookfield
WI
-
275,556
1,524,426
-
-
275,556
1,524,426
1,799,982
129,576
11/9/2016
Burlington
WI
-
290,000
1,805,776
-
-
290,000
1,805,776
2,095,776
153,491
11/9/2016
Cedarburg
WI
-
275,657
1,524,983
-
-
275,657
1,524,983
1,800,640
129,624
11/9/2016
Delafield
WI
-
581,097
1,973,285
-
-
581,097
1,973,285
2,554,382
167,729
11/9/2016
Delavan
WI
-
350,000
731,920
-
-
350,000
731,920
1,081,920
62,213
11/9/2016
DePere
WI
-
152,366
842,914
-
-
152,366
842,914
995,280
71,648
11/9/2016
Eagle River
WI
-
450,000
1,471,232
-
-
450,000
1,471,232
1,921,232
125,055
11/9/2016
Evansville
WI
-
496,107
418,828
-
-
496,107
418,828
914,935
9,075
6/29/2018
Fitchburg
WI
-
211,507
1,170,093
-
-
211,507
1,170,093
1,381,600
99,458
11/9/2016
Fond du Lac
WI
-
193,288
1,069,304
-
-
193,288
1,069,304
1,262,592
90,891
11/9/2016
Fox Point
WI
-
465,039
1,517,128
-
-
465,039
1,517,128
1,982,167
128,956
11/9/2016
Green Bay
WI
-
293,789
1,625,293
-
-
293,789
1,625,293
1,919,082
138,150
11/9/2016
Green Bay
WI
-
339,237
1,876,720
-
-
339,237
1,876,720
2,215,957
159,521
11/9/2016
Greendale
WI
-
1,270,000
2,936,482
-
-
1,270,000
2,936,482
4,206,482
249,601
11/9/2016
Janesville
WI
-
130,000
564,880
-
-
130,000
564,880
694,880
48,015
11/9/2016
La Crosse
WI
-
194,725
1,077,254
-
-
194,725
1,077,254
1,271,979
91,567
11/9/2016
Madison
WI
-
549,714
1,299,069
-
-
549,714
1,299,069
1,848,783
28,146
6/29/2018
Marshfield
WI
-
420,000
792,148
-
-
420,000
792,148
1,212,148
67,333
11/9/2016
Mequon
WI
-
533,480
2,951,302
-
-
533,480
2,951,302
3,484,782
250,861
11/9/2016
Milwaukee
WI
-
265,985
495,071
-
-
265,985
495,071
761,056
215,356
2/1/2008
Milwaukee
WI
-
255,823
1,322,971
-
-
255,823
1,322,971
1,578,794
28,664
6/29/2018
Muskego
WI
-
224,464
1,241,776
-
-
224,464
1,241,776
1,466,240
105,551
11/9/2016
Oak Creek
WI
-
273,122
1,510,960
-
-
273,122
1,510,960
1,784,082
128,432
11/9/2016
Onalaska
WI
-
286,854
677,886
-
-
286,854
677,886
964,740
14,688
6/29/2018
Oregon
WI
-
393,490
1,066,830
-
-
393,490
1,066,830
1,460,320
90,681
11/9/2016
Pleasant Prairie
WI
-
172,510
954,353
-
-
172,510
954,353
1,126,863
81,120
11/9/2016
Port Washington
WI
-
45,767
1,345,539
-
-
45,767
1,345,539
1,391,306
29,153
6/29/2018
Racine
WI
-
217,944
1,205,704
-
-
217,944
1,205,704
1,423,648
102,485
11/9/2016
Racine
WI
-
319,247
754,434
-
-
319,247
754,434
1,073,681
16,346
6/29/2018
Salem
WI
-
312,895
848,321
-
-
312,895
848,321
1,161,216
72,107
11/9/2016
Saukville
WI
-
163,312
903,470
-
-
163,312
903,470
1,066,782
85,830
11/9/2016
Spring Green
WI
-
126,015
1,343,109
-
-
126,015
1,343,109
1,469,124
29,101
6/29/2018
Sun Prairie
WI
-
532,146
1,257,550
-
-
532,146
1,257,550
1,789,696
27,247
6/29/2018
Sussex
WI
-
201,136
1,112,720
-
-
201,136
1,112,720
1,313,856
94,581
11/9/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Thiensville
WI
-
321,236
1,777,132
-
-
321,236
1,777,132
2,098,368
151,056
11/9/2016
Verona
WI
-
180,000
1,394,112
-
-
180,000
1,394,112
1,574,112
118,500
11/9/2016
Waukesha
WI
-
307,638
1,701,910
-
-
307,638
1,701,910
2,009,548
144,662
11/9/2016
Waukesha
WI
-
246,467
1,363,501
-
-
246,467
1,363,501
1,609,968
115,898
11/9/2016
Wautoma
WI
-
390,836
391,922
-
-
390,836
391,922
782,758
8,492
6/29/2018
West Allis
WI
-
303,615
1,679,650
-
-
303,615
1,679,650
1,983,265
142,770
11/9/2016
Wisconsin Rapids
WI
-
317,820
751,064
-
-
317,820
751,064
1,068,884
16,273
6/29/2018
Food Processing
Cedar Rapids
IA
29,185,525
1,784,980
36,815,951
-
-
1,784,980
36,815,951
38,600,931
9,265,348
9/26/2012
St. Charles
MO
-
3,675,034
13,827,581
-
-
3,675,034
13,827,581
17,502,615
4,263,504
4/1/2011
York
NE
-
450,000
7,442,416
104,131
-
450,000
7,546,548
7,996,548
1,072,222
12/13/2013
Oklahoma City
OK
-
201,507
1,828,803
-
-
201,507
1,828,803
2,030,310
311,332
1/22/2013
Memphis
TN
-
1,568,476
13,510,652
56,337
-
1,568,476
13,566,989
15,135,465
2,318,568
12/20/2012
Weslaco
TX
-
207,384
1,882,135
-
-
207,384
1,882,135
2,089,519
320,411
1/22/2013
General Merchandise
Anchorage
AK
-
1,486,000
5,045,244
56,306
379,089
1,486,000
5,480,639
6,966,639
3,503,032
10/17/2001
Demopolis
AL
-
658,601
2,140,452
43,840
-
658,601
2,184,292
2,842,893
526,412
1/22/2013
Batesville
AR
-
360,000
1,839,677
-
-
360,000
1,839,677
2,199,677
413,927
5/23/2013
Blytheville
AR
-
772,319
15,370,177
-
-
772,319
15,370,177
16,142,496
3,663,226
1/22/2013
Hot Springs
AR
-
413,337
1,865,839
143,935
-
413,337
2,009,774
2,423,111
235,233
1/15/2016
Coolidge
AZ
-
380,000
1,865,375
150,225
-
380,000
2,015,600
2,395,600
318,670
12/11/2014
Douglas
AZ
-
320,000
2,812,308
-
-
320,000
2,812,308
3,132,308
482,780
9/24/2014
Sonora
CA
-
1,199,554
3,898,549
18,956
-
1,199,554
3,917,505
5,117,059
936,800
1/22/2013
Tustin
CA
-
10,530,000
9,883,431
-
-
10,530,000
9,883,431
20,413,431
1,729,600
8/19/2014
Monte Vista
CO
-
47,652
582,159
58,774
1,584
47,652
642,517
690,169
487,808
12/23/1998
Pawcatuck
CT
-
1,090,816
3,545,153
35,642
-
1,090,816
3,580,795
4,671,611
859,119
1/22/2013
Ft. Myers
FL
-
957,428
4,071,266
-
-
957,428
4,071,266
5,028,694
88,964
12/21/2017
North Ft Myers
FL
-
729,366
3,292,417
-
-
729,366
3,292,417
4,021,783
466,426
6/4/2015
Orlando
FL
-
1,420,000
3,062,831
-
-
1,420,000
3,062,831
4,482,831
188,875
6/30/2017
Orange Park
FL
-
478,314
618,348
139,498
-
478,314
757,847
1,236,161
593,847
12/31/1998
Austell
GA
-
6,020,000
11,970,530
-
-
6,020,000
11,970,530
17,990,530
977,593
12/1/2016
Madison
GA
-
597,637
1,942,320
20,582
-
597,637
1,962,902
2,560,539
479,826
1/22/2013
Clarinda
IA
-
439,267
816,010
16,832
25,838
439,267
858,681
1,297,948
422,691
5/25/2006
Columbia City
IN
-
470,000
1,319,981
210,570
-
470,000
1,530,551
2,000,551
134,637
6/30/2016
Greensburg
IN
-
1,970,000
9,022,549
-
-
1,970,000
9,022,549
10,992,549
736,841
12/2/2016
Garnett
KS
-
59,690
628,516
90,686
59,690
719,241
778,931
447,137
12/23/1998
Phillipsburg
KS
-
423,725
787,146
69,427
8,938
423,725
865,512
1,289,237
403,836
5/25/2006
Hillsboro
KS
-
335,292
622,914
(126,000
)
-
335,292
496,914
832,206
309,051
5/25/2006
Lawrenceburg
KY
-
410,000
503,126
135,108
-
410,000
638,234
1,048,234
102,456
12/12/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Maysville
KY
-
1,030,000
1,440,622
-
-
1,030,000
1,440,622
2,470,622
324,140
5/28/2013
Mansura
LA
-
557,316
1,811,276
32,485
-
557,316
1,843,761
2,401,077
442,877
1/22/2013
Oakland
MD
-
990,000
2,555,782
-
-
990,000
2,555,782
3,545,782
413,185
12/4/2014
Pocomoke City
MD
-
1,193,994
9,664,824
-
-
1,193,994
9,664,824
10,858,818
434,917
11/27/2017
Calais
ME
-
440,000
2,236,794
-
-
440,000
2,236,794
2,676,794
383,983
9/26/2014
Coldwater
MI
-
380,000
2,589,000
-
-
380,000
2,589,000
2,969,000
314,995
12/16/2015
Kalamazoo
MI
-
-
2,547,854
71,591
-
-
2,619,446
2,619,446
627,469
1/22/2013
St John's
MI
-
350,000
2,292,729
-
-
350,000
2,292,729
2,642,729
370,658
12/12/2014
Stevensville
MI
-
404,904
2,547,727
20,925
-
404,904
2,568,651
2,973,555
440,022
9/26/2014
Faribault
MN
-
1,270,000
16,730,000
-
-
1,270,000
16,730,000
18,000,000
1,214,917
6/29/2016
Paynesville
MN
-
49,483
525,406
35,306
49,483
560,750
610,233
429,580
12/23/1998
Rogers
MN
-
1,230,000
2,049,498
-
-
1,230,000
2,049,498
3,279,498
133,217
5/10/2017
Waite Park
MN
-
568,437
3,444,729
-
-
568,437
3,444,729
4,013,166
63,153
7/30/2018
Warroad
MN
-
70,000
580,000
-
70,000
580,046
650,046
465,004
12/23/1998
Independence
MO
-
210,643
467,844
-
210,643
467,972
678,615
467,972
7/31/1989
N/A
Kansas City
MO
-
210,070
466,571
-
-
210,070
466,571
676,641
466,571
5/13/1988
N/A
Kansas City
MO
-
168,350
373,910
-
-
168,350
373,910
542,260
373,910
5/26/1988
N/A
Corinth
MS
-
387,489
1,749,157
183,839
-
387,489
1,932,996
2,320,485
370,199
12/4/2013
Billings
MT
-
617,235
2,786,247
-
-
617,235
2,786,247
3,403,482
394,718
6/24/2015
Glendive
MT
-
567,581
2,529,794
-
-
567,581
2,529,794
3,097,375
358,388
6/4/2015
Greensboro
NC
-
676,201
3,052,428
-
-
676,201
3,052,428
3,728,629
503,651
11/17/2014
Raleigh
NC
-
484,913
2,188,937
-
-
484,913
2,188,937
2,673,850
419,546
3/11/2014
Winston-Salem
NC
-
8,610,606
9,516,411
-
-
8,610,606
9,516,411
18,127,017
396,517
12/21/2017
Mayville
ND
-
59,333
565,562
160,301
5,087
59,333
730,950
790,283
471,630
12/23/1998
Ainsworth
NE
-
362,675
673,768
-
362,675
673,862
1,036,537
340,329
5/25/2006
Imperial
NE
-
388,599
721,914
146,288
388,599
868,240
1,256,839
390,532
6/28/2006
Bloomfield
NM
-
59,559
616,252
14,805
59,559
631,141
690,700
506,908
12/23/1998
Clovis
NM
-
50,000
918,965
33,694
-
50,000
952,659
1,002,659
187,442
6/30/2014
Alliance
OH
-
4,140,000
10,084,855
-
-
4,140,000
10,084,855
14,224,855
621,899
6/29/2017
Pickerington
OH
-
317,010
1,431,011
-
-
317,010
1,431,011
1,748,021
259,967
6/12/2014
Edmond
OK
-
1,390,000
3,009,650
284,935
-
1,390,000
3,294,585
4,684,585
1,069,127
10/22/2010
Milwaukie
OR
-
180,250
400,336
49,088
180,250
449,482
629,732
444,353
8/6/1987
Dubois
PA
1,338,900
682,202
2,217,155
32,120
-
682,202
2,249,275
2,931,477
535,022
1/22/2013
Ebensburg
PA
-
581,699
16,421,564
-
-
581,699
16,421,564
17,003,263
3,913,806
1/22/2013
Elizabethville
PA
1,244,943
691,197
2,246,390
11,850
-
691,197
2,258,240
2,949,437
540,715
1/22/2013
Mansfield
PA
1,244,943
759,190
2,467,367
3,651
-
759,190
2,471,018
3,230,208
590,908
1/22/2013
Milford
PA
-
438,715
1,955,421
104,700
-
438,715
2,060,121
2,498,836
288,142
6/9/2015
Providence
RI
-
2,550,000
21,717,123
31,843
-
2,550,000
21,748,966
24,298,966
3,083,319
1/31/2014
Florence
SC
-
712,114
2,314,371
13,000
-
712,114
2,327,371
3,039,485
563,822
1/22/2013
Greenville
SC
-
5,164,821
11,714,982
-
-
5,164,821
11,714,982
16,879,803
527,174
11/29/2017
Athens
TN
-
290,000
1,948,179
-
-
290,000
1,948,179
2,238,179
340,931
8/18/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Carthage
TN
-
555,547
2,476,158
128,226
-
555,547
2,604,384
3,159,931
315,719
12/17/2015
Johnson City
TN
-
1,460,000
1,608,119
-
-
1,460,000
1,608,119
3,068,119
125,969
1/11/2017
Memphis
TN
-
197,708
507,647
17,670
23,118
197,708
548,435
746,143
452,758
9/30/1998
Murfreesboro
TN
-
1,010,000
2,797,770
-
-
1,010,000
2,797,770
3,807,770
284,440
6/20/2016
Coleman
TX
-
243,060
451,661
14,375
41,385
243,060
507,421
750,481
238,327
5/25/2006
Denton
TX
-
897,418
3,496,528
-
-
897,418
3,496,528
4,393,946
85,866
4/20/2018
Devine
TX
-
212,408
394,735
39,377
212,408
434,213
646,621
213,773
5/25/2006
New Boston
TX
-
564,285
1,833,926
51,100
-
564,285
1,885,026
2,449,311
467,802
1/22/2013
Orange
TX
-
492,842
2,224,730
2,607
-
492,842
2,227,336
2,720,178
448,953
12/20/2013
Presidio
TX
-
407,657
757,362
-
15,300
407,657
772,662
1,180,319
387,055
5/25/2006
Winnsboro
TX
-
94,380
1,299,056
8,500
41,151
94,380
1,348,707
1,443,087
642,603
9/7/2006
Salem
UT
-
439,889
1,985,696
153,529
-
439,889
2,139,225
2,579,114
300,467
5/21/2015
Salem
VA
-
670,000
1,870,698
-
-
670,000
1,870,698
2,540,698
190,188
6/29/2016
Puyallup
WA
-
173,250
384,795
-
22,814
173,250
407,609
580,859
407,609
9/15/1987
N/A
Redmond
WA
-
196,000
435,317
42,356
29,168
196,000
506,842
702,842
485,056
9/17/1987
Tacoma
WA
-
189,000
419,777
-
19,146
189,000
438,922
627,922
438,922
8/25/1987
N/A
Green Bay
WI
-
1,510,000
5,852,883
127,741
-
1,510,000
5,980,624
7,490,624
1,297,784
6/25/2013
Sussex
WI
-
650,000
7,106,415
33,439
-
650,000
7,139,854
7,789,854
1,577,276
6/25/2013
Ronceverte
WV
1,338,900
772,945
2,512,071
5,445
-
772,945
2,517,516
3,290,461
600,345
1/22/2013
Douglas
WY
-
571,162
2,545,759
7,850
-
571,162
2,553,609
3,124,771
361,659
6/4/2015
Government Services
Sierra Vista
AZ
-
368,655
9,028,151
295,844
-
368,655
9,323,995
9,692,650
1,639,666
1/22/2013
El Centro
CA
-
520,000
2,185,899
-
-
520,000
2,185,899
2,705,899
812,426
9/17/2009
Redding
CA
-
675,805
20,005,327
549,332
-
675,805
20,554,659
21,230,464
3,589,224
1/22/2013
Colorado Springs
CO
-
672,578
9,520,731
392,174
-
672,578
9,912,905
10,585,483
1,806,266
1/22/2013
New Port Richey
FL
-
779,626
9,708,313
326,793
-
779,626
10,035,106
10,814,732
1,706,764
1/22/2013
Sioux City
IA
-
77,340
4,538,558
221,325
-
77,340
4,759,883
4,837,223
802,839
1/22/2013
Caldwell
ID
-
666,412
2,891,593
37,455
-
666,412
2,929,048
3,595,460
508,276
1/22/2013
Minneapolis
MN
-
1,045,866
8,587,804
-
-
1,045,866
8,587,804
9,633,670
1,461,971
1/22/2013
Malone
NY
-
823,630
9,270,887
115,299
-
823,630
9,386,186
10,209,816
1,619,335
1/22/2013
Knoxville
TN
-
760,745
8,994,542
47,114
-
760,745
9,041,656
9,802,401
1,540,831
1/22/2013
Brownsville
TX
-
320,661
6,564,200
31,025
-
320,661
6,595,225
6,915,886
1,120,913
1/22/2013
Dallas
TX
-
399,222
9,540,572
42,246
-
399,222
9,582,818
9,982,040
1,630,671
1/22/2013
Eagle Pass
TX
-
146,259
1,880,444
199,323
-
146,259
2,079,767
2,226,026
409,565
1/22/2013
Eagle Pass
TX
-
68,097
708,427
103,279
-
68,097
811,706
879,803
165,388
1/22/2013
Paris
TX
-
274,223
5,385,490
3,700
-
274,223
5,389,190
5,663,413
918,413
1/22/2013
Parkersburg
WV
-
494,436
12,703,842
57,994
-
494,436
12,761,837
13,256,273
2,176,655
1/22/2013
Grocery
Montgomery
AL
-
1,620,000
7,789,810
-
-
1,620,000
7,789,810
9,409,810
558,373
3/22/2017
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Phenix City
AL
-
2,815,705
7,813,337
-
-
2,815,705
7,813,337
10,629,042
325,556
12/28/2017
Mesa
AZ
-
807,252
1,499,183
-
-
807,252
1,499,183
2,306,435
422,270
12/21/2011
Phoenix
AZ
-
664,796
1,234,621
-
-
664,796
1,234,621
1,899,417
347,752
12/21/2011
Phoenix
AZ
-
546,083
1,014,153
-
-
546,083
1,014,153
1,560,236
285,653
12/21/2011
Yuma
AZ
-
783,510
1,455,089
-
-
783,510
1,455,089
2,238,599
409,850
12/21/2011
Buena Park
CA
-
2,136,844
3,968,425
-
-
2,136,844
3,968,425
6,105,269
1,117,773
12/21/2011
Burbank
CA
-
2,193,827
4,074,250
-
-
2,193,827
4,074,250
6,268,077
1,147,580
12/21/2011
Carson
CA
-
949,709
1,763,744
-
-
949,709
1,763,744
2,713,453
496,788
12/21/2011
Chula Vista
CA
-
1,044,679
1,940,119
-
-
1,044,679
1,940,119
2,984,798
546,467
12/21/2011
Cloverdale
CA
-
1,505,000
2,795,321
-
-
1,505,000
2,795,321
4,300,321
1,709,805
9/30/2003
El Centro
CA
-
394,903
733,392
-
-
394,903
733,392
1,128,295
206,572
12/21/2011
Fortuna
CA
-
1,190,000
2,210,308
-
-
1,190,000
2,210,308
3,400,308
1,351,972
9/30/2003
Glendale
CA
-
3,270,797
6,074,336
-
-
3,270,797
6,074,336
9,345,133
1,710,938
12/21/2011
Hanford
CA
-
1,234,621
2,292,868
-
-
1,234,621
2,292,868
3,527,489
645,824
12/21/2011
Inglewood
CA
-
1,661,990
3,086,553
-
-
1,661,990
3,086,553
4,748,543
869,379
12/21/2011
Los Angeles
CA
-
712,282
1,322,809
-
-
712,282
1,322,809
2,035,091
372,591
12/21/2011
Los Angeles
CA
-
1,424,563
2,645,617
-
-
1,424,563
2,645,617
4,070,180
745,182
12/21/2011
Los Angeles
CA
-
1,576,516
2,927,816
-
-
1,576,516
2,927,816
4,504,332
824,668
12/21/2011
Los Angeles
CA
-
1,638,247
3,042,460
-
-
1,638,247
3,042,460
4,680,707
856,959
12/21/2011
Los Angeles
CA
-
1,994,388
3,703,864
-
-
1,994,388
3,703,864
5,698,252
1,043,255
12/21/2011
Los Angeles
CA
-
3,111,111
5,777,778
-
-
3,111,111
5,777,778
8,888,889
1,627,407
12/21/2011
Monrovia
CA
-
1,139,650
2,116,494
-
-
1,139,650
2,116,494
3,256,144
596,146
12/21/2011
North Hollywood
CA
-
4,036,263
7,495,917
-
-
4,036,263
7,495,917
11,532,180
2,111,350
12/21/2011
Oakland
CA
-
2,374,272
4,409,361
-
-
2,374,272
4,409,361
6,783,633
1,241,970
12/21/2011
Pacoima
CA
-
949,709
1,763,744
-
-
949,709
1,763,744
2,713,453
496,788
12/21/2011
Pasadena
CA
-
2,113,102
3,924,331
-
-
2,113,102
3,924,331
6,037,433
1,105,353
12/21/2011
Redlands
CA
-
1,187,136
2,204,680
-
-
1,187,136
2,204,680
3,391,816
620,985
12/21/2011
Redondo Beach
CA
-
1,306,667
2,426,666
-
-
1,306,667
2,426,666
3,733,333
683,511
12/21/2011
Redwood City
CA
-
1,638,247
3,042,460
-
-
1,638,247
3,042,460
4,680,707
856,959
12/21/2011
Riverside
CA
-
1,068,422
1,984,213
-
-
1,068,422
1,984,213
3,052,635
558,887
12/21/2011
Sacramento
CA
-
759,767
1,410,995
-
-
759,767
1,410,995
2,170,762
397,430
12/21/2011
Sacramento
CA
-
1,139,650
2,116,494
-
-
1,139,650
2,116,494
3,256,144
596,146
12/21/2011
Salinas
CA
-
1,044,679
1,940,119
-
-
1,044,679
1,940,119
2,984,798
546,467
12/21/2011
San Diego
CA
-
1,633,333
3,033,334
-
-
1,633,333
3,033,334
4,666,667
854,389
12/21/2011
Stockton
CA
-
1,424,563
2,645,617
-
-
1,424,563
2,645,617
4,070,180
745,182
12/21/2011
Thousand Oaks
CA
-
2,018,131
3,747,957
-
-
2,018,131
3,747,957
5,766,088
1,055,675
12/21/2011
Pueblo
CO
-
1,700,000
8,441,070
-
-
1,700,000
8,441,070
10,141,070
830,182
7/29/2016
Wilmington
DE
4,825,479
1,020,000
5,192,590
-
-
1,020,000
5,192,590
6,212,590
960,629
5/9/2014
Brandon
FL
-
2,570,000
676,996
647,309
2,570,000
1,324,598
3,894,598
277,440
10/22/2010
Orlando
FL
-
1,530,000
9,749,600
245,067
-
1,530,000
9,994,667
11,524,667
616,171
6/30/2017
Tampa
FL
-
2,610,000
5,769,576
180,568
-
2,610,000
5,950,143
8,560,143
1,991,037
10/22/2010
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Albany
GA
-
2,190,000
8,690,607
-
-
2,190,000
8,690,607
10,880,607
796,773
9/19/2016
Athens
GA
-
2,190,000
9,424,928
-
-
2,190,000
9,424,928
11,614,928
864,085
9/19/2016
Augusta
GA
-
3,270,000
7,511,063
-
-
3,270,000
7,511,063
10,781,063
763,848
6/30/2016
Columbus
GA
-
4,353,814
6,857,257
-
-
4,353,814
6,857,257
11,211,071
285,719
12/28/2017
Dalton
GA
-
2,190,763
7,590,837
-
-
2,190,763
7,590,837
9,781,600
316,285
12/28/2017
Gainesville
GA
-
2,550,000
7,340,616
-
-
2,550,000
7,340,616
9,890,616
746,519
6/30/2016
LaGrange
GA
-
1,740,000
8,163,125
-
-
1,740,000
8,163,125
9,903,125
748,420
9/19/2016
Davenport
IA
-
1,287,445
4,478,575
-
-
1,287,445
4,478,575
5,766,020
52,250
9/27/2018
Bannockburn
IL
-
6,345,098
22,072,424
-
-
6,345,098
22,072,424
28,417,522
919,684
12/28/2017
Des Plaines
IL
-
6,360,000
20,525,360
-
-
6,360,000
20,525,360
26,885,360
1,470,984
3/31/2017
Frankfort
IL
-
5,780,000
20,409,156
-
-
5,780,000
20,409,156
26,189,156
1,462,656
3/31/2017
Harwood Heights
IL
-
7,510,000
19,150,146
-
-
7,510,000
19,150,146
26,660,146
1,372,427
3/31/2017
Lake Zurich
IL
-
4,720,000
21,200,960
-
-
4,720,000
21,200,960
25,920,960
1,519,402
3/31/2017
Carmel
IN
-
1,484,742
-
-
31,108
1,484,742
31,108
1,515,850
In Progress
6/20/2018
Elkhart
IN
-
835,890
-
-
125,216
835,890
125,216
961,106
9,196
11/1/2006
Terre Haute
IN
-
767,189
1,426,532
64,431
120,090
767,189
1,611,053
2,378,242
1,495,221
11/1/2006
Lawrence
KS
-
706,512
5,339,114
-
-
706,512
5,339,114
6,045,626
1,272,539
1/22/2013
Wichita
KS
-
1,672,828
7,618,552
-
-
1,672,828
7,618,552
9,291,380
1,816,300
1/22/2013
Bossier City
LA
-
1,902,939
8,898,290
-
-
1,902,939
8,898,290
10,801,229
370,762
12/28/2017
Monroe
LA
-
2,270,000
7,628,418
-
-
2,270,000
7,628,418
9,898,418
775,705
6/30/2016
Monroe
LA
-
2,260,000
7,850,069
-
-
2,260,000
7,850,069
10,110,069
798,239
6/30/2016
Monroe
LA
-
1,725,230
8,815,201
-
-
1,725,230
8,815,201
10,540,431
367,300
12/28/2017
Pineville
LA
-
2,218,626
7,984,042
-
-
2,218,626
7,984,042
10,202,668
332,668
12/28/2017
Ruston
LA
-
1,863,091
9,049,754
-
-
1,863,091
9,049,754
10,912,845
377,073
12/28/2017
Portland
ME
-
-
6,357,617
12,082
-
-
6,369,699
6,369,699
1,517,921
1/22/2013
Lapeer
MI
-
763,454
4,473,651
-
-
763,454
4,473,651
5,237,105
395,172
10/19/2016
Waite Park
MN
-
497,467
2,982,959
-
-
497,467
2,982,959
3,480,426
54,688
7/30/2018
Aurora
MO
-
440,000
3,398,717
-
-
440,000
3,398,717
3,838,717
560,788
11/17/2014
Festus
MO
-
1,120,000
5,164,355
-
-
1,120,000
5,164,355
6,284,355
1,024,558
1/31/2014
Republic
MO
-
930,000
3,036,180
-
-
930,000
3,036,180
3,966,180
500,970
11/17/2014
Springfield
MO
-
1,167,312
3,207,718
-
-
1,167,312
3,207,718
4,375,030
529,273
11/17/2014
Springfield
MO
-
1,635,901
4,495,381
-
-
1,635,901
4,495,381
6,131,282
741,738
11/17/2014
St. Louis
MO
-
1,150,000
4,580,300
-
-
1,150,000
4,580,300
5,730,300
908,426
1/31/2014
St. Louis
MO
-
890,000
5,765,303
-
-
890,000
5,765,303
6,655,303
1,143,452
1/31/2014
Rio Rancho
NM
-
1,290,000
6,521,932
-
-
1,290,000
6,521,932
7,811,932
467,405
3/29/2017
Reno
NV
-
456,000
562,344
19,733
456,000
582,251
1,038,251
582,251
5/26/1988
N/A
Reno
NV
-
721,365
1,339,679
-
-
721,365
1,339,679
2,061,044
377,343
12/21/2011
Canandaigua
NY
-
757,160
13,354,409
-
-
757,160
13,354,409
14,111,569
3,182,801
1/22/2013
Nanuet
NY
-
3,149,527
20,960,357
-
-
3,149,527
20,960,357
24,109,884
4,995,552
1/22/2013
Seaford
NY
13,806,243
6,180,000
6,058,740
-
-
6,180,000
6,058,740
12,238,740
1,120,867
5/9/2014
Cincinnati
OH
-
1,860,000
5,009,049
-
-
1,860,000
5,009,049
6,869,049
459,163
9/28/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Wooster
OH
-
763,642
-
-
48,300
763,642
48,300
811,942
1,467
11/1/2006
Bartlesville
OK
-
1,650,000
1,574,823
-
-
1,650,000
1,574,823
3,224,823
517,513
10/22/2010
Norman
OK
-
1,580,000
1,901,618
-
-
1,580,000
1,901,618
3,481,618
624,811
10/22/2010
Norman
OK
-
3,000,000
2,475,669
-
-
3,000,000
2,475,669
5,475,669
812,721
10/22/2010
Stillwater
OK
-
2,590,000
2,473,123
-
-
2,590,000
2,473,123
5,063,123
812,455
10/22/2010
Tulsa
OK
-
1,550,000
203,990
-
-
1,550,000
203,990
1,753,990
66,977
10/22/2010
Tulsa
OK
-
2,000,000
753,609
-
-
2,000,000
753,609
2,753,609
247,435
10/22/2010
Tulsa
OK
-
3,000,000
3,486,618
-
-
3,000,000
3,486,618
6,486,618
1,145,219
10/22/2010
Central Point
OR
-
840,000
1,560,308
-
-
840,000
1,560,308
2,400,308
954,388
9/30/2003
Pendleton
OR
-
546,083
1,014,153
-
-
546,083
1,014,153
1,560,236
285,653
12/21/2011
Phoenix
OR
-
840,000
1,560,308
148,406
-
840,000
1,708,715
2,548,715
964,277
9/30/2003
Duncansville
PA
-
1,508,293
7,507,014
-
-
1,508,293
7,507,014
9,015,307
129,379
7/6/2018
Upper Darby
PA
8,836,277
3,300,000
7,383,261
-
-
3,300,000
7,383,261
10,683,261
1,365,903
5/9/2014
Columbia
SC
-
1,610,000
7,777,781
-
-
1,610,000
7,777,781
9,387,781
557,511
3/22/2017
Goose Creek
SC
-
2,160,000
8,654,787
-
-
2,160,000
8,654,787
10,814,787
620,364
3/22/2017
Greenville
SC
-
3,020,000
7,907,103
-
-
3,020,000
7,907,103
10,927,103
566,780
3/22/2017
Ladson
SC
-
2,630,000
8,279,600
-
-
2,630,000
8,279,600
10,909,600
593,475
3/22/2017
Myrtle Beach
SC
-
4,866,449
1,545,000
-
-
4,866,449
1,545,000
6,411,449
141,766
9/8/2016
Orangeburg
SC
-
1,430,000
7,956,493
-
-
1,430,000
7,956,493
9,386,493
570,319
3/22/2017
Simpsonville
SC
-
2,380,000
8,117,512
-
-
2,380,000
8,117,512
10,497,512
581,859
3/22/2017
Simpsonville
SC
-
2,030,000
7,349,991
-
-
2,030,000
7,349,991
9,379,991
526,853
3/22/2017
Rapid City
SD
-
2,140,000
1,465,451
-
-
2,140,000
1,465,451
3,605,451
481,156
10/22/2010
Clarksville
TN
-
1,450,000
8,574,328
-
-
1,450,000
8,574,328
10,024,328
786,114
9/19/2016
Hixson
TN
-
2,354,241
7,902,641
-
-
2,354,241
7,902,641
10,256,882
329,277
12/28/2017
Morristown
TN
-
2,184,337
7,699,787
-
-
2,184,337
7,699,787
9,884,124
320,825
12/28/2017
Dallas
TX
-
1,210,000
2,675,265
300,025
-
1,210,000
2,975,290
4,185,290
948,865
10/22/2010
Colchester
VT
-
983,640
13,718,577
-
-
983,640
13,718,577
14,702,217
3,269,594
1/22/2013
Richland
WA
-
1,756,961
3,262,927
-
-
1,756,961
3,262,927
5,019,888
919,058
12/21/2011
Burlington
WI
4,490,000
840,000
6,515,145
-
-
840,000
6,515,145
7,355,145
1,227,019
4/30/2014
Fond du Lac
WI
-
1,260,000
5,823,350
-
-
1,260,000
5,823,350
7,083,350
359,107
6/29/2017
Neenah
WI
3,480,000
1,070,000
4,648,820
-
-
1,070,000
4,648,820
5,718,820
875,528
4/30/2014
Shorewood
WI
-
7,110,000
28,692,187
-
-
7,110,000
28,692,187
35,802,187
2,343,195
12/21/2016
Health & Beauty
Fresno
CA
-
1,439,680
40,287,526
-
-
1,439,680
40,287,526
41,727,206
815,343
4/13/2018
Health & Fitness
Gilbert
AZ
-
2,324,742
7,305,473
-
-
2,324,742
7,305,473
9,630,215
-
In Progress
8/17/2017
N/A
Goodyear
AZ
-
2,010,000
20,928,681
-
-
2,010,000
20,928,681
22,938,681
2,964,896
6/10/2015
Phoenix
AZ
-
2,608,389
3,418,783
750,000
-
2,608,389
4,168,783
6,777,172
2,319,576
6/26/2001
Phoenix
AZ
-
2,100,000
6,556,549
-
-
2,100,000
6,556,549
8,656,549
1,663,144
6/29/2011
San Tan Valley
AZ
-
1,113,000
3,228,784
-
-
1,113,000
3,228,784
4,341,784
-
In Progress
6/11/2018
N/A
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Antioch
CA
-
5,375,000
9,982,143
-
-
5,375,000
9,982,143
15,357,143
2,911,458
9/21/2011
Bakersfield
CA
-
2,259,649
4,698,845
-
-
2,259,649
4,698,845
6,958,494
1,370,496
9/21/2011
Bakersfield
CA
-
3,260,933
6,056,019
-
-
3,260,933
6,056,019
9,316,952
1,766,339
9/21/2011
Carmichael
CA
-
812,570
3,467,558
232,904
-
812,570
3,700,461
4,513,031
764,820
8/30/2013
Carmichael
CA
-
755,676
3,224,770
34,606
-
755,676
3,259,376
4,015,052
694,435
8/30/2013
Ceres
CA
-
2,145,750
3,984,963
-
-
2,145,750
3,984,963
6,130,713
1,162,281
9/21/2011
Chula Vista
CA
-
4,226,250
7,848,750
750,000
-
4,226,250
8,598,750
12,825,000
2,773,269
3/30/2010
Diamond Bar
CA
-
3,038,879
5,494,141
-
3,038,879
5,494,918
8,533,797
3,663,645
9/29/1998
Elk Grove
CA
-
2,570,000
10,206,994
116,025
3,274
2,570,000
10,326,293
12,896,293
2,185,454
9/27/2013
Fairfield
CA
-
836,500
2,053,894
-
-
836,500
2,053,894
2,890,394
461,680
10/3/2012
Folsom
CA
-
1,290,000
13,537,029
68,362
-
1,290,000
13,605,391
14,895,391
2,916,628
8/30/2013
Los Banos
CA
-
1,378,343
2,559,779
-
-
1,378,343
2,559,779
3,938,122
746,602
9/21/2011
McClellan
CA
-
396,459
1,691,850
-
-
396,459
1,691,850
2,088,309
363,748
8/30/2013
Merced
CA
-
910,000
2,440,523
-
-
910,000
2,440,523
3,350,523
533,516
10/3/2012
Montebello
CA
-
3,320,000
7,793,644
-
-
3,320,000
7,793,644
11,113,644
480,608
6/15/2017
Norco
CA
-
1,247,243
4,907,430
-
1,247,243
4,907,456
6,154,699
3,173,873
6/29/1999
Rancho Cordova
CA
-
1,040,000
6,791,316
38,541
-
1,040,000
6,829,857
7,869,857
1,464,067
8/30/2013
Rocklin
CA
-
1,165,243
4,972,558
-
-
1,165,243
4,972,558
6,137,801
1,069,100
8/30/2013
Roseville
CA
-
1,970,000
7,743,081
184,281
-
1,970,000
7,927,362
9,897,362
1,711,326
9/27/2013
Sacramento
CA
-
449,230
1,917,043
69,909
-
449,230
1,986,952
2,436,182
413,687
8/30/2013
Sacramento
CA
-
2,400,000
14,079,539
-
-
2,400,000
14,079,539
16,479,539
2,980,169
9/30/2013
Shingle Springs
CA
-
1,575,000
3,675,307
-
-
1,575,000
3,675,307
5,250,307
840,174
10/3/2012
Stockton
CA
-
2,320,442
4,309,392
-
-
2,320,442
4,309,392
6,629,834
1,256,906
9/21/2011
Stockton
CA
-
1,602,459
2,975,994
-
-
1,602,459
2,975,994
4,578,453
867,998
9/21/2011
Tracy
CA
-
556,906
1,034,254
-
-
556,906
1,034,254
1,591,160
301,657
9/21/2011
Tracy
CA
-
3,228,902
5,996,532
-
-
3,228,902
5,996,532
9,225,434
1,748,989
9/21/2011
Vacaville
CA
-
1,575,000
3,675,429
-
-
1,575,000
3,675,429
5,250,429
840,192
10/3/2012
Vallejo
CA
-
756,000
3,404,487
-
-
756,000
3,404,487
4,160,487
652,070
10/3/2012
Colorado Springs
CO
-
3,209,045
28,240,548
-
-
3,209,045
28,240,548
31,449,593
1,176,690
12/19/2017
South Windsor
CT
4,631,148
1,410,000
8,239,228
-
-
1,410,000
8,239,228
9,649,228
1,496,793
6/27/2014
Hialeah
FL
-
2,104,393
3,910,500
-
-
2,104,393
3,910,500
6,014,893
1,844,436
3/26/2007
Miami
FL
-
3,115,101
5,670,715
-
3,115,101
5,670,821
8,785,922
3,631,150
6/7/1999
Oakland Park
FL
-
2,800,000
2,196,480
600,000
-
2,800,000
2,796,480
5,596,480
1,444,353
3/27/2001
Orlando
FL
-
2,144,778
3,755,905
550,000
-
2,144,778
4,305,905
6,450,683
2,283,578
11/26/2002
Pembroke Pines
FL
-
1,714,388
4,387,824
750,000
-
1,714,388
5,137,824
6,852,212
3,177,114
10/1/1999
Stuart
FL
-
1,150,000
8,258,878
-
-
1,150,000
8,258,878
9,408,878
1,830,718
6/28/2013
Sunrise
FL
-
2,850,000
3,601,884
-
-
2,850,000
3,601,884
6,451,884
1,182,618
10/22/2010
Winter Park
FL
-
1,979,598
8,256,394
924,093
167,804
1,979,598
9,348,291
11,327,889
6,116,108
5/31/1995
Conyers
GA
-
1,200,000
7,835,546
86,569
-
1,200,000
7,922,115
9,122,115
1,534,417
2/27/2014
Morrow
GA
-
1,680,000
5,108,661
222,358
-
1,680,000
5,331,019
7,011,019
887,597
9/30/2014
Urbandale
IA
-
4,720,000
27,389,120
-
-
4,720,000
27,389,120
32,109,120
3,880,125
6/10/2015
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Alsip
IL
-
2,944,221
5,467,839
-
2,944,221
5,468,214
8,412,435
1,977,561
12/30/2009
Bolingbrook
IL
-
3,010,512
8,161,186
-
-
3,010,512
8,161,186
11,171,698
3,613,877
1/24/2007
Elmhurst
IL
-
3,410,000
8,185,617
-
-
3,410,000
8,185,617
11,595,617
559,351
4/14/2017
Glendale Heights
IL
-
1,963,770
10,038,516
-
-
1,963,770
10,038,516
12,002,286
2,503,269
3/26/2007
Lansing
IL
-
460,000
6,648,839
-
460,000
6,649,214
7,109,214
1,340,875
12/12/2013
Waukegan
IL
-
2,961,951
5,500,766
-
2,961,951
5,501,141
8,463,092
1,989,469
12/30/2009
Carmel
IN
-
3,675,000
6,825,000
-
-
3,675,000
6,825,000
10,500,000
2,400,125
3/29/2010
Indianapolis
IN
-
3,008,186
6,999,881
-
-
3,008,186
6,999,881
10,008,067
3,258,660
8/3/2006
Southport
IN
-
2,121,873
7,522,735
-
-
2,121,873
7,522,735
9,644,608
3,282,943
6/8/2007
Lenexa
KS
-
1,410,000
25,283,643
-
-
1,410,000
25,283,643
26,693,643
3,581,849
6/10/2015
Florence
KY
-
2,560,000
8,523,096
-
-
2,560,000
8,523,096
11,083,096
2,088,159
11/30/2012
Louisville
KY
-
1,480,000
13,081,657
323,418
-
1,480,000
13,405,075
14,885,075
3,138,530
2/1/2013
Nottingham
MD
-
3,055,453
5,675,230
-
-
3,055,453
5,675,230
8,730,683
2,676,816
3/26/2007
Rochester Hills
MI
-
1,980,000
31,441,153
-
-
1,980,000
31,441,153
33,421,153
4,454,163
6/10/2015
Roseville
MN
-
3,611,925
8,804,654
-
-
3,611,925
8,804,654
12,416,579
3,846,440
4/18/2007
St. Louis Park
MN
-
1,160,000
36,979,042
-
-
1,160,000
36,979,042
38,139,042
5,238,698
6/10/2015
Charlotte
NC
-
2,420,000
7,649,004
59,780
-
2,420,000
7,708,784
10,128,784
1,520,187
1/29/2014
Raleigh
NC
-
4,890,000
21,252,496
-
-
4,890,000
21,252,496
26,142,496
3,010,770
6/10/2015
Omaha
NE
-
1,130,000
10,814,154
-
-
1,130,000
10,814,154
11,944,154
2,144,807
1/29/2014
East Brunswick
NJ
-
1,654,529
3,073,912
-
1,654,529
3,073,970
4,728,499
1,460,140
2/16/2007
Montvale
NJ
-
7,980,000
35,070,170
-
-
7,980,000
35,070,170
43,050,170
4,968,274
6/10/2015
Harrison
NY
-
16,710,000
50,611,800
-
-
16,710,000
50,611,800
67,321,800
7,170,005
6/10/2015
Patchogue
NY
-
2,540,000
9,285,822
-
-
2,540,000
9,285,822
11,825,822
572,626
6/16/2017
Yonkers
NY
-
1,488,894
2,765,894
-
-
1,488,894
2,765,894
4,254,788
1,304,579
3/26/2007
Brooklyn
OH
-
900,000
10,393,798
26,569
-
900,000
10,420,367
11,320,367
1,162,293
3/30/2016
Columbus
OH
-
-
6,891,202
266,675
-
-
7,157,877
7,157,877
1,641,692
11/30/2012
Columbus
OH
-
-
11,662,219
34,160
-
11,696,478
11,696,478
2,760,384
2/1/2013
Columbus
OH
-
-
7,517,501
-
-
-
7,517,501
7,517,501
1,666,379
6/28/2013
Hilliard
OH
-
1,010,000
10,307,569
-
1,010,000
10,307,944
11,317,944
2,422,304
2/1/2013
Maumee
OH
-
1,390,000
10,042,422
-
-
1,390,000
10,042,422
11,432,422
1,991,747
1/29/2014
Toledo
OH
-
620,000
10,933,936
-
-
620,000
10,933,936
11,553,936
2,168,564
1/29/2014
West Chester
OH
-
1,670,000
7,738,611
27,798
-
1,670,000
7,766,409
9,436,409
1,818,884
2/22/2013
Allentown
PA
-
2,340,000
8,863,815
-
-
2,340,000
8,863,815
11,203,815
576,148
5/1/2017
Philadelphia
PA
-
2,254,830
4,188,725
-
-
2,254,830
4,188,725
6,443,555
1,989,644
2/16/2007
Pittsburgh
PA
-
4,420,799
5,543,009
-
-
4,420,799
5,543,009
9,963,808
1,560,621
1/12/2011
Bartlett
TN
-
2,475,000
8,654,882
-
-
2,475,000
8,654,882
11,129,882
316,614
10/18/2016
Franklin
TN
-
5,552,015
21,696,618
-
-
5,552,015
21,696,618
27,248,633
904,026
12/29/2017
Cypress
TX
-
1,417,377
5,696,789
600,000
-
1,417,377
6,296,789
7,714,166
2,868,125
9/14/2005
Fort Worth
TX
-
1,445,901
5,277,886
-
-
1,445,901
5,277,886
6,723,787
3,920,325
6/30/1999
Keller
TX
-
1,478,222
5,679,604
750,000
-
1,478,222
6,429,604
7,907,826
3,009,718
12/16/2004
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Plano
TX
-
3,178,115
5,832,224
-
-
3,178,115
5,832,224
9,010,339
3,024,853
4/22/2005
Sachse
TX
-
540,000
8,144,846
3,902
-
540,000
8,148,747
8,688,747
774,939
8/16/2016
San Antonio
TX
-
1,120,000
2,075,196
-
-
1,120,000
2,075,196
3,195,196
785,116
7/29/2009
San Antonio
TX
-
1,200,000
2,489,568
12,965
-
1,200,000
2,502,533
3,702,533
942,562
7/29/2009
San Antonio
TX
-
1,200,000
6,552,188
-
-
1,200,000
6,552,188
7,752,188
404,052
6/22/2017
South Jordan
UT
-
6,260,000
19,565,376
-
-
6,260,000
19,565,376
25,825,376
2,771,762
6/10/2015
Federal Way
WA
-
2,650,000
8,480,517
-
-
2,650,000
8,480,517
11,130,517
1,088,333
10/14/2015
Kent
WA
-
4,086,250
7,588,750
-
-
4,086,250
7,588,750
11,675,000
2,744,598
12/21/2009
Health Care
Boaz
AL
-
184,595
603,627
-
-
184,595
603,627
788,222
19,115
3/22/2018
Enterprise
AL
-
697,210
2,265,932
-
-
697,210
2,265,932
2,963,142
540,047
1/22/2013
Gadsden
AL
-
409,904
904,941
-
-
409,904
904,941
1,314,845
28,656
3/22/2018
Montgomery
AL
-
255,189
2,067,034
75,481
-
255,189
2,142,515
2,397,704
69,545
3/22/2018
Rainbow City
AL
-
392,196
1,307,665
-
-
392,196
1,307,665
1,699,861
41,409
3/22/2018
Hot Springs
AR
845,621
210,979
2,003,689
-
-
210,979
2,003,689
2,214,668
341,104
1/22/2013
Hot Springs
AR
939,579
235,299
2,234,659
-
-
235,299
2,234,659
2,469,958
380,424
1/22/2013
Hot Springs
AR
2,372,438
904,597
5,821,180
-
-
904,597
5,821,180
6,725,777
990,987
1/22/2013
Apple Valley
CA
-
486,371
15,383,518
-
-
486,371
15,383,518
15,869,889
2,472,743
1/22/2013
Shasta Lake
CA
-
390,906
9,754,092
-
-
390,906
9,754,092
10,144,998
1,660,518
1/22/2013
Augusta
GA
-
526,247
1,710,304
-
-
526,247
1,710,304
2,236,551
407,622
1/22/2013
Brunswick
GA
-
290,369
788,880
83,729
31,059
290,369
903,669
1,194,038
729,077
12/31/1997
Valdosta
GA
-
432,035
1,404,115
-
-
432,035
1,404,115
1,836,150
334,647
1/22/2013
Valdosta
GA
-
413,489
1,343,840
-
-
413,489
1,343,840
1,757,329
320,282
1/22/2013
Blackfoot
ID
-
494,854
1,608,277
-
-
494,854
1,608,277
2,103,131
383,306
1/22/2013
Belleville
IL
-
1,602,110
2,050,158
-
-
1,602,110
2,050,158
3,652,268
64,922
3/22/2018
Champaign
IL
-
805,888
1,498,402
431,790
49,236
805,888
1,979,428
2,785,316
729,902
11/1/2006
Chicago
IL
-
250,000
1,307,607
30,997
-
250,000
1,338,604
1,588,604
149,310
3/25/2016
Chicago
IL
-
310,283
1,266,988
-
-
310,283
1,266,988
1,577,271
40,121
3/22/2018
Bedford
IN
-
179,909
1,882,694
-
-
179,909
1,882,694
2,062,603
59,619
3/22/2018
Elkhart
IN
-
198,923
1,988,287
-
-
198,923
1,988,287
2,187,210
62,962
3/22/2018
New Castle
IN
-
564,055
1,833,180
-
-
564,055
1,833,180
2,397,235
436,908
1/22/2013
Kansas City
KS
-
521,988
1,696,460
-
-
521,988
1,696,460
2,218,448
404,323
1/22/2013
New Orleans
LA
-
558,643
1,997,969
1,600
-
558,643
1,999,569
2,558,212
63,319
3/22/2018
Shreveport
LA
-
423,234
1,375,511
-
-
423,234
1,375,511
1,798,745
327,830
1/22/2013
Billerica
MA
-
398,292
740,107
21,044
15,024
398,292
776,175
1,174,467
360,967
11/14/2007
Augusta
ME
-
316,234
1,007,734
-
-
316,234
1,007,734
1,323,968
31,912
3/22/2018
Kansas City
MO
-
340,000
1,523,155
-
-
340,000
1,523,155
1,863,155
307,170
12/20/2013
St. Louis
MO
-
2,852,903
38,694,147
132,793
1,008,831
2,852,903
39,835,771
42,688,674
6,601,989
1/22/2013
St. Louis
MO
-
4,278,685
19,900,592
-
-
4,278,685
19,900,592
24,179,277
3,387,839
1/22/2013
Gulfport
MS
-
299,464
502,326
224,556
46,809
299,464
773,691
1,073,155
556,888
11/26/1996
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Sharpsburg
NC
-
250,859
2,021,050
-
-
250,859
2,021,050
2,271,909
64,000
3/22/2018
Wilmington
NC
-
811,533
5,498,659
-
-
811,533
5,498,659
6,310,192
1,310,514
1/22/2013
Lincoln
NE
-
707,636
2,299,818
-
-
707,636
2,299,818
3,007,454
548,124
1/22/2013
Clementon
NJ
-
279,851
556,894
75,934
11,821
279,851
644,650
924,501
587,727
9/9/1991
Albuquerque
NM
-
577,291
2,127,729
-
-
577,291
2,127,729
2,705,020
67,378
3/22/2018
Victor
NY
-
214,832
2,020,443
-
-
214,832
2,020,443
2,235,275
63,981
3/22/2018
Mount Vernon
OH
-
726,626
1,351,151
-
22,995
726,626
1,374,147
2,100,773
668,607
11/1/2006
Trotwood
OH
-
96,760
1,730,064
-
-
96,760
1,730,064
1,826,824
54,785
3/22/2018
Twinsburg
OH
-
370,722
1,457,810
-
-
370,722
1,457,810
1,828,532
31,586
6/27/2018
Okmulgee
OK
-
397,605
1,292,216
-
-
397,605
1,292,216
1,689,821
307,978
1/22/2013
Sellersville
PA
-
763,355
2,480,903
-
-
763,355
2,480,903
3,244,258
591,282
1/22/2013
Abbeville
SC
-
446,204
1,450,164
-
-
446,204
1,450,164
1,896,368
345,623
1/22/2013
Greenwood
SC
-
617,421
1,882,070
-
-
617,421
1,882,070
2,499,491
59,599
3/22/2018
North Augusta
SC
-
498,284
1,619,423
-
-
498,284
1,619,423
2,117,707
385,962
1/22/2013
Cookeville
TN
-
422,148
1,660,037
-
-
422,148
1,660,037
2,082,185
35,967
6/27/2018
Dickson
TN
-
531,717
1,728,079
-
-
531,717
1,728,079
2,259,796
411,859
1/22/2013
Memphis
TN
-
602,208
1,957,176
-
-
602,208
1,957,176
2,559,384
466,460
1/22/2013
Memphis
TN
-
822,791
2,674,071
-
-
822,791
2,674,071
3,496,862
637,320
1/22/2013
Bedford
TX
-
1,607,524
56,219,108
-
-
1,607,524
56,219,108
57,826,632
9,570,634
1/22/2013
Hampton
VA
-
373,499
836,071
50,583
33,022
373,499
919,675
1,293,174
746,642
12/19/1997
Muskego
WI
-
1,528,232
26,297,695
92,891
-
1,528,232
26,390,586
27,918,818
4,488,390
1/22/2013
Home Furnishings
Little Rock
AR
-
1,079,232
2,594,956
132,816
1,079,232
2,727,888
3,807,120
2,221,866
7/21/1998
Wynne
AR
-
70,000
547,576
58,039
2,024
70,000
607,639
677,639
484,475
2/24/1999
Osceola
AR
-
88,759
520,047
4,083
-
88,759
524,130
612,889
431,386
6/30/1998
Pueblo
CO
-
371,645
1,207,845
-
-
371,645
1,207,845
1,579,490
287,870
1/22/2013
Danbury
CT
-
643,736
3,621,163
324,674
243,250
643,736
4,189,087
4,832,823
3,386,842
9/30/1997
Brandon
FL
-
430,000
1,020,608
-
-
430,000
1,020,608
1,450,608
838,598
6/26/1998
Hudson
FL
-
397,101
1,290,578
-
-
397,101
1,290,578
1,687,679
307,588
1/22/2013
Palm Harbor
FL
-
364,939
1,186,052
-
-
364,939
1,186,052
1,550,991
282,676
1/22/2013
Pensacola
FL
-
370,809
1,205,128
-
-
370,809
1,205,128
1,575,937
287,222
1/22/2013
Spring Hill
FL
-
370,810
1,205,131
-
-
370,810
1,205,131
1,575,941
287,223
1/22/2013
Tampa
FL
-
685,000
885,624
-
-
685,000
885,624
1,570,624
727,686
6/26/1998
Tampa
FL
-
494,763
767,737
71,880
494,763
839,990
1,334,753
687,675
12/31/1998
West Palm Beach
FL
-
347,651
706,081
69,111
-
347,651
775,192
1,122,843
614,989
12/31/1998
Rome
GA
-
254,902
486,812
117,959
254,902
604,855
859,757
461,912
11/26/1996
Joliet
IL
-
440,000
910,689
-
440,000
910,783
1,350,783
748,375
6/26/1998
Anderson
IN
-
180,628
653,162
108,685
180,628
762,026
942,654
667,320
11/26/1996
Mishawaka
IN
-
1,070,000
4,321,944
13,483
-
1,070,000
4,335,427
5,405,427
728,099
10/28/2014
Kansas City
KS
-
185,955
413,014
31,870
8,583
185,955
453,468
639,423
450,662
5/13/1988
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Overland Park
KS
6,310,177
2,600,000
4,566,981
59,948
-
2,600,000
4,626,929
7,226,929
518,333
3/31/2016
Overland Park
KS
3,389,823
1,480,000
2,672,995
32,001
-
1,480,000
2,704,996
4,184,996
303,125
3/31/2016
Alexandria
LA
-
400,000
810,608
-
400,000
810,776
1,210,776
666,215
6/26/1998
Monroe
LA
-
450,000
835,608
-
-
450,000
835,608
1,285,608
686,589
6/26/1998
Battle Creek
MI
-
485,000
895,689
-
485,000
895,955
1,380,955
736,179
6/26/1998
Bay City
MI
-
397,531
1,291,976
-
-
397,531
1,291,976
1,689,507
307,921
1/22/2013
Eden Prairie
MN
-
500,502
1,055,244
-
-
500,502
1,055,244
1,555,746
838,883
3/1/1999
Hattiesburg
MS
-
300,000
660,608
-
300,000
660,776
960,776
542,965
6/26/1998
Ridgeland
MS
-
306,460
995,995
-
-
306,460
995,995
1,302,455
237,379
1/22/2013
Asheboro
NC
-
373,128
1,212,666
-
-
373,128
1,212,666
1,585,794
289,019
1/22/2013
Matthews
NC
-
768,222
843,401
46,414
37,821
768,222
927,636
1,695,858
755,506
12/31/1998
Grand Island
NE
-
455,921
1,481,742
-
-
455,921
1,481,742
1,937,663
353,149
1/22/2013
Cortland
NY
-
448,156
1,456,507
-
-
448,156
1,456,507
1,904,663
347,134
1/22/2013
Green Island
NY
-
1,181,947
20,808,780
90,227
-
1,181,947
20,899,007
22,080,954
3,558,099
1/22/2013
Middletown
NY
-
2,700,000
14,093,893
-
-
2,700,000
14,093,893
16,793,893
1,151,001
12/8/2016
Oneonta
NY
-
354,283
1,151,419
-
-
354,283
1,151,419
1,505,702
274,421
1/22/2013
Rotterdam
NY
-
390,926
1,270,510
-
-
390,926
1,270,510
1,661,436
302,805
1/22/2013
Ashtabula
OH
-
359,857
1,169,537
-
-
359,857
1,169,537
1,529,394
278,740
1/22/2013
Kettering
OH
-
316,341
1,028,109
-
-
316,341
1,028,109
1,344,450
245,033
1/22/2013
Lancaster
OH
-
250,000
830,689
-
-
250,000
830,689
1,080,689
682,547
6/26/1998
Piqua
OH
-
375,833
1,221,457
-
-
375,833
1,221,457
1,597,290
291,114
1/22/2013
Reynoldsburg
OH
-
850,000
2,770,492
440,161
78,613
850,000
3,289,265
4,139,265
521,109
6/19/2014
Dayton
OH
-
401,723
698,872
48,970
-
401,723
747,842
1,149,565
594,879
6/29/1998
Altoona
PA
-
455,000
745,694
-
-
455,000
745,694
1,200,694
612,710
6/26/1998
Cranberry
PA
-
369,761
1,201,723
-
-
369,761
1,201,723
1,571,484
286,411
1/22/2013
Erie
PA
-
510,000
900,689
-
-
510,000
900,689
1,410,689
740,064
6/26/1998
Pennsdale
PA
-
315,000
835,648
-
-
315,000
835,648
1,150,648
686,622
6/26/1998
Whitehall
PA
-
515,525
1,146,868
-
515,525
1,147,243
1,662,768
942,367
6/30/1998
Columbia
SC
-
600,000
900,725
-
600,000
901,022
1,501,022
740,390
6/26/1998
Murrells Inlet
SC
-
296,236
962,766
-
-
296,236
962,766
1,259,002
229,459
1/22/2013
Abilene
TX
-
400,000
680,616
-
-
400,000
680,616
1,080,616
559,237
6/26/1998
Amarillo
TX
-
140,000
419,734
-
-
140,000
419,734
559,734
419,734
9/12/1988
N/A
Plainview
TX
-
125,000
734,558
40,000
125,000
774,607
899,607
603,230
1/24/1984
San Antonio
TX
-
323,451
637,991
47,914
-
323,451
685,906
1,009,357
559,355
12/31/1998
Victoria
TX
-
291,380
946,984
-
-
291,380
946,984
1,238,364
225,698
1/22/2013
Webster
TX
-
283,604
538,002
118,078
283,604
656,266
939,870
472,104
6/13/1997
Pasco
WA
-
161,700
359,142
56,707
-
161,700
415,849
577,549
407,775
8/18/1987
Eau Claire
WI
-
260,000
820,689
-
260,000
820,900
1,080,900
674,542
6/26/1998
La Crosse
WI
-
372,883
877,812
-
372,883
878,062
1,250,945
721,516
6/26/1998
Home Improvement
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Kenai
AK
-
2,350,000
5,400,025
-
-
2,350,000
5,400,025
7,750,025
945,004
8/19/2014
Birmingham
AL
-
717,675
1,774,814
3,700
-
717,675
1,778,514
2,496,189
269,663
3/31/2015
Enterprise
AL
-
850,000
5,757,559
-
-
850,000
5,757,559
6,607,559
297,474
9/28/2017
Phoenix
AZ
-
10,901,934
-
-
-
10,901,934
-
10,901,934
-
9/29/2017
N/A
Tucson
AZ
-
4,170,000
14,213,818
-
-
4,170,000
14,213,818
18,383,818
2,582,177
6/19/2014
Tucson
AZ
6,418,261
4,280,000
15,094,661
-
-
4,280,000
15,094,661
19,374,661
2,641,566
8/7/2014
Lawndale
CA
-
667,007
1,238,841
-
667,007
1,238,890
1,905,897
993,185
12/31/1998
Los Angeles
CA
-
163,668
304,097
-
163,668
304,146
467,814
243,831
12/31/1998
Morgan Hill
CA
-
5,100,000
7,219,244
-
-
5,100,000
7,219,244
12,319,244
1,311,496
6/19/2014
Van Nuys
CA
-
750,293
1,393,545
-
750,293
1,393,594
2,143,887
1,117,205
12/31/1998
Greenwood Village
CO
-
9,700,000
13,352,870
-
-
9,700,000
13,352,870
23,052,870
2,425,771
6/19/2014
Augusta
GA
-
2,701,584
18,072,555
267,054
-
2,701,584
18,339,609
21,041,193
4,441,919
1/22/2013
Austell
GA
-
9,161,124
-
-
-
9,161,124
-
9,161,124
-
1/22/2013
N/A
Conley
GA
-
727,106
904,138
29,754
-
727,106
933,892
1,660,998
170,498
8/7/2014
Valdosta
GA
-
2,550,000
11,989,018
-
2,550,000
11,989,818
14,539,818
2,138,450
7/15/2014
Cedar Rapids
IA
-
294,195
732,929
7,475
-
294,195
740,404
1,034,599
96,684
9/24/2015
Kansas City
KS
-
854,158
1,810,915
-
854,158
1,811,290
2,665,448
292,790
12/22/2014
Lenexa
KS
-
1,051,077
1,952,233
-
-
1,051,077
1,952,233
3,003,310
1,011,908
1/6/2006
Overland Park
KS
-
3,400,000
12,372,646
-
-
3,400,000
12,372,646
15,772,646
1,257,886
6/29/2016
Topeka
KS
11,638,030
2,189,122
35,657,677
-
-
2,189,122
35,657,677
37,846,799
6,129,064
1/22/2013
Winchester
KY
-
590,000
5,879,333
-
-
590,000
5,879,333
6,469,333
303,766
9/26/2017
Gretna
LA
-
4,260,000
8,738,059
-
-
4,260,000
8,738,059
12,998,059
742,735
11/30/2016
Jefferson
LA
-
610,004
1,293,280
-
-
610,004
1,293,280
1,903,284
209,080
12/31/2014
Midland
MI
-
3,339,696
3,621,765
-
-
3,339,696
3,621,765
6,961,461
162,979
11/20/2017
Forest Lake
MN
-
3,820,941
2,909,938
-
-
3,820,941
2,909,938
6,730,879
130,947
11/27/2017
Chillicothe
MO
-
804,948
1,495,138
-
-
804,948
1,495,138
2,300,086
774,980
1/6/2006
Columbia
MO
-
2,039,436
3,787,757
-
-
2,039,436
3,787,757
5,827,193
1,963,321
1/6/2006
Columbia
MO
-
1,080,521
2,006,915
-
-
1,080,521
2,006,915
3,087,436
1,040,251
1/6/2006
Fulton
MO
-
791,603
1,470,353
-
-
791,603
1,470,353
2,261,956
762,133
1/6/2006
Jefferson City
MO
-
1,481,299
2,751,217
250,000
34,933
1,481,299
3,036,150
4,517,449
1,478,245
1/6/2006
Kirksville
MO
-
1,421,788
2,640,696
-
-
1,421,788
2,640,696
4,062,484
1,368,761
1/6/2006
Macon
MO
-
493,394
916,537
-
-
493,394
916,537
1,409,931
475,072
1/6/2006
Moberly
MO
-
1,293,387
2,402,283
-
-
1,293,387
2,402,283
3,695,670
1,245,182
1/6/2006
Charlotte
NC
-
2,880,000
5,771,974
-
-
2,880,000
5,771,974
8,651,974
355,938
6/23/2017
Matthews
NC
-
610,177
1,394,743
86,087
68,013
610,177
1,548,842
2,159,019
1,219,952
7/17/1998
Omaha
NE
-
1,515,773
2,816,678
-
1,515,773
2,816,710
4,332,483
1,460,011
1/6/2006
Haddon Heights
NJ
-
80,000
534,400
132,131
-
80,000
666,531
746,531
92,579
5/21/2015
Voorhees Township
NJ
-
11,002,336
4,280,000
-
-
11,002,336
4,280,000
15,282,336
363,800
11/30/2016
Reno
NV
-
2,763,533
27,350,571
-
-
2,763,533
27,350,571
30,114,104
879,126
11/30/2017
Reno
NV
-
6,988,755
6,764,770
-
-
6,988,755
6,764,770
13,753,525
214,218
3/15/2018
Commack
NY
-
400,427
744,533
246,102
27,442
400,427
1,018,077
1,418,504
358,183
9/4/2007
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Rochester
NY
-
158,168
294,456
-
-
158,168
294,456
452,624
236,066
12/31/1998
Akron
OH
-
359,775
762,765
-
-
359,775
762,765
1,122,540
123,314
12/31/2014
Canton
OH
-
70,000
908,666
-
-
70,000
908,666
978,666
146,901
12/31/2014
Columbus
OH
-
230,000
538,088
-
-
230,000
538,088
768,088
86,991
12/18/2014
Massillon
OH
-
6,523,018
939,016
-
-
6,523,018
939,016
7,462,034
95,467
6/30/2016
Wheelersburg
OH
-
4,193,001
6,210,288
-
-
4,193,001
6,210,288
10,403,289
258,762
12/22/2017
Youngstown
OH
-
2,260,000
10,662,835
-
-
2,260,000
10,662,835
12,922,835
657,541
6/27/2017
Edmond
OK
-
1,030,000
1,317,842
-
-
1,030,000
1,317,842
2,347,842
199,873
3/11/2015
Beaver Falls
PA
-
2,963,218
6,044,549
-
-
2,963,218
6,044,549
9,007,767
130,965
6/27/2018
Columbia
TN
-
610,000
985,954
-
610,000
986,329
1,596,329
169,281
9/9/2014
Johnson City
TN
-
467,167
580,911
-
-
467,167
580,911
1,048,078
101,659
8/7/2014
Knoxville
TN
-
6,486,801
-
-
-
6,486,801
-
6,486,801
-
1/22/2013
N/A
Nashville
TN
-
9,928,019
-
-
-
9,928,019
-
9,928,019
-
5/24/2017
N/A
Amarillo
TX
-
1,140,000
1,082,966
-
-
1,140,000
1,082,966
2,222,966
148,263
3/28/2014
Carrollton
TX
-
201,569
374,342
-
201,569
374,443
576,012
225,331
12/5/2003
Cedar Park
TX
-
253,591
827,237
83,518
-
253,591
910,755
1,164,346
763,634
3/26/1997
Longview
TX
-
300,000
980,898
-
-
300,000
980,898
1,280,898
142,230
5/15/2015
Midland
TX
-
1,590,052
2,953,473
-
-
1,590,052
2,953,473
4,543,525
1,530,884
1/6/2006
Odessa
TX
-
1,346,834
2,501,783
-
-
1,346,834
2,501,783
3,848,617
1,296,758
1/6/2006
San Antonio
TX
-
367,890
683,750
-
-
367,890
683,750
1,051,640
548,142
12/31/1998
Stafford
TX
-
1,025,959
1,275,756
-
-
1,025,959
1,275,756
2,301,715
223,257
8/7/2014
Webster
TX
-
770,000
976,851
8,565
-
770,000
985,416
1,755,416
134,997
3/28/2014
Wichita Falls
TX
-
120,000
464,338
-
-
120,000
464,338
584,338
63,570
3/28/2014
Chesapeake
VA
-
144,014
649,869
-
11,754
144,014
661,624
805,638
661,624
12/22/1986
N/A
Richmond
VA
-
713,319
886,996
-
-
713,319
886,996
1,600,315
155,224
8/7/2014
Bellingham
WA
-
4,140,000
16,417,981
-
-
4,140,000
16,417,981
20,557,981
2,325,881
6/9/2015
Spokane
WA
-
4,930,000
15,428,206
-
-
4,930,000
15,428,206
20,358,206
2,185,662
6/30/2015
Baraboo
WI
-
110,000
719,613
-
-
110,000
719,613
829,613
98,518
3/28/2014
Mukwonago
WI
-
180,000
938,997
29,462
-
180,000
968,459
1,148,459
121,762
11/5/2015
Neenah
WI
-
200,000
1,343,343
-
-
200,000
1,343,343
1,543,343
217,174
12/31/2014
Insurance
Cedar Falls
IA
-
634,343
6,331,030
-
-
634,343
6,331,030
6,965,373
1,614,413
8/28/2012
Jewelry
Plymouth
MA
-
-
1,809,315
-
-
-
1,809,315
1,809,315
431,220
1/22/2013
Watchung
NJ
-
-
2,446,115
-
-
-
2,446,115
2,446,115
582,991
1/22/2013
Amherst
NY
-
-
1,841,863
-
-
-
1,841,863
1,841,863
438,977
1/22/2013
Lake Grove
NY
-
-
2,171,696
-
-
-
2,171,696
2,171,696
517,587
1/22/2013
Machinery
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Tomah
WI
-
1,630,917
12,938,430
-
-
1,630,917
12,938,430
14,569,347
3,342,428
7/31/2012
Motor Vehicle Dealerships
Robertsdale
AL
-
3,026,015
6,117,490
-
-
3,026,015
6,117,490
9,143,505
2,939,897
4/7/2006
Longmont
CO
-
2,502,092
6,906,609
-
2,502,092
6,906,724
9,408,816
3,971,414
8/25/2004
Clearwater
FL
-
9,110,000
8,216,168
-
-
9,110,000
8,216,168
17,326,168
917,485
3/23/2016
Gulf Breeze
FL
-
3,518,413
905,480
-
-
3,518,413
905,480
4,423,893
460,285
4/7/2006
Sanford
FL
-
5,380,000
4,387,546
-
-
5,380,000
4,387,546
9,767,546
489,943
3/23/2016
Stockbridge
GA
-
2,470,000
8,693,515
-
-
2,470,000
8,693,515
11,163,515
1,898,084
7/18/2013
Woodstock
GA
-
2,509,102
2,509,993
-
-
2,509,102
2,509,993
5,019,095
1,326,113
10/25/2005
Island Lake
IL
-
2,107,134
6,383,412
-
-
2,107,134
6,383,412
8,490,546
3,466,552
12/31/2004
Louisville
KY
-
4,070,000
11,863,502
-
-
4,070,000
11,863,502
15,933,502
1,562,125
9/29/2015
Danvers
MA
-
15,602,817
-
-
-
15,602,817
-
15,602,817
-
2/1/2017
N/A
South Portland
ME
-
5,415,622
-
-
-
5,415,622
-
5,415,622
-
12/22/2016
N/A
Charlotte
NC
-
3,560,000
5,847,436
-
-
3,560,000
5,847,436
9,407,436
1,198,724
11/26/2013
Colfax
NC
-
1,125,979
2,196,033
-
-
1,125,979
2,196,033
3,322,012
1,231,024
12/31/2004
Statesville
NC
-
2,353,825
4,159,653
-
-
2,353,825
4,159,653
6,513,478
2,308,412
5/13/2004
Chichester
NH
-
578,314
4,546,307
-
-
578,314
4,546,307
5,124,621
2,536,651
10/1/2004
Churchville
NY
-
1,000,000
5,755,166
-
-
1,000,000
5,755,166
6,755,166
2,893,649
3/23/2006
Akron
OH
-
715,953
554,589
-
-
715,953
554,589
1,270,542
295,361
1/19/2005
Hillsboro
OR
-
1,611,084
1,936,755
-
1,611,084
1,936,812
3,547,896
952,295
9/1/2006
Wood Village
OR
-
3,822,277
5,687,110
-
3,822,277
5,687,168
9,509,445
2,731,687
9/1/2006
Myrtle Beach
SC
-
2,299,020
2,081,997
-
-
2,299,020
2,081,997
4,381,017
1,148,453
3/3/2005
Fort Worth
TX
-
5,210,000
10,505,151
-
-
5,210,000
10,505,151
15,715,151
1,068,098
6/30/2016
Garland
TX
-
3,233,329
12,064,917
-
-
3,233,329
12,064,917
15,298,246
2,956,087
11/19/2012
Houston
TX
-
3,630,000
9,734,149
-
-
3,630,000
9,734,149
13,364,149
1,281,678
9/21/2015
Houston
TX
-
3,850,000
2,884,228
-
-
3,850,000
2,884,228
6,734,228
293,230
6/24/2016
Katy
TX
-
1,347,454
8,564,135
-
-
1,347,454
8,564,135
9,911,589
4,504,323
1/25/2005
Plano
TX
-
5,040,000
3,520,851
-
-
5,040,000
3,520,851
8,560,851
357,953
6/24/2016
San Antonio
TX
-
4,337,454
7,313,125
-
-
4,337,454
7,313,125
11,650,579
1,767,521
12/13/2012
Office Supplies
Lakewood
CA
-
1,398,387
3,098,607
183,500
10,284
1,398,387
3,292,391
4,690,778
2,744,385
1/29/1997
Riverside
CA
-
1,410,177
1,659,850
-
1,410,177
1,659,929
3,070,106
1,413,626
9/17/1997
Casselberry
FL
-
-
1,277,112
189,379
-
-
1,466,492
1,466,492
726,343
1/25/2005
Salina
KS
-
240,423
1,829,837
111,873
-
240,423
1,941,710
2,182,133
1,664,564
6/25/1997
Hutchinson
KS
-
269,964
1,704,013
103,877
-
269,964
1,807,890
2,077,854
1,537,872
6/25/1997
Asheboro
NC
-
465,557
2,176,416
138,265
465,557
2,314,834
2,780,391
1,835,440
3/27/1998
Westbury
NY
-
3,808,076
2,377,932
295,940
338,968
3,808,076
3,012,840
6,820,916
2,346,668
9/29/1997
New Philadelphia
OH
-
726,636
1,650,672
29,715
726,636
1,680,501
2,407,137
1,456,878
5/30/1997
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Other Manufacturing
Prescott
AR
-
593,604
11,944,641
-
-
593,604
11,944,641
12,538,245
2,033,433
1/22/2013
Tucson
AZ
14,496,067
3,799,899
32,101,539
299,865
3,799,899
32,401,872
36,201,771
5,592,929
1/22/2013
East Windsor
NJ
9,625,000
240,000
13,307,041
22,563
-
240,000
13,329,603
13,569,603
1,803,510
4/30/2014
Marysville
OH
-
540,000
14,900,974
-
-
540,000
14,900,974
15,440,974
1,343,128
12/3/2015
Duncan
SC
-
490,000
2,292,068
129,418
-
490,000
2,421,486
2,911,486
365,321
8/29/2013
El Paso
TX
-
1,769,633
17,892,956
633,600
239,723
1,769,633
18,766,279
20,535,912
3,457,141
1/22/2013
McAllen
TX
-
1,460,000
11,847,054
-
-
1,460,000
11,847,054
13,307,054
691,078
12/21/2016
Packaging
Denver
CO
-
2,680,000
5,645,000
-
-
2,680,000
5,645,000
8,325,000
248,649
6/20/2017
Mundelein
IL
-
1,900,000
12,900,000
-
-
1,900,000
12,900,000
14,800,000
752,642
12/22/2016
Nicholasville
KY
-
1,000,000
15,932,000
-
-
1,000,000
15,932,000
16,932,000
1,081,100
8/22/2016
Nicholasville
KY
-
3,494,139
6,301,461
-
-
3,494,139
6,301,461
9,795,600
187,544
12/1/2017
Asheville
NC
-
2,482,832
9,955,668
-
-
2,482,832
9,955,668
12,438,500
296,300
12/20/2017
Lewisburg
OH
2,495,454
641,174
11,787,510
-
-
641,174
11,787,510
12,428,684
2,927,232
10/19/2012
Chester
VA
-
1,770,000
14,922,913
-
-
1,770,000
14,922,913
16,692,913
1,723,241
12/17/2014
Raphine
VA
-
2,679,884
21,236,904
-
-
2,679,884
21,236,904
23,916,788
6,406,466
6/3/2011
Wytheville
VA
-
2,175,524
33,138,859
2,255,121
-
2,175,524
35,393,981
37,569,505
8,473,043
11/29/2012
Madison
WI
-
1,500,000
17,205,560
-
-
1,500,000
17,205,560
18,705,560
648,359
6/23/2017
Paper
Marianna
FL
-
1,473,182
6,930,359
-
-
1,473,182
6,930,359
8,403,541
2,113,760
5/2/2011
Columbia
SC
-
989,232
5,004,326
-
-
989,232
5,004,326
5,993,558
863,842
12/21/2012
Pet Supplies and Services
Los Angeles
CA
-
902,494
1,676,204
437,070
182,667
902,494
2,295,941
3,198,435
1,487,298
12/31/1998
Marietta
GA
-
495,412
1,526,370
-
-
495,412
1,526,370
2,021,782
1,145,085
9/29/1998
Duluth
GA
-
361,058
1,591,629
-
-
361,058
1,591,629
1,952,687
1,211,408
9/29/1998
Ottawa
IL
-
2,351,842
52,407,677
237,848
-
2,351,842
52,645,526
54,997,368
9,084,430
1/22/2013
Indianapolis
IN
-
427,000
1,296,901
-
-
427,000
1,296,901
1,723,901
966,998
1/19/1999
Sudbury
MA
-
543,038
2,477,213
-
-
543,038
2,477,213
3,020,251
1,828,077
9/30/1998
Tyngsboro
MA
-
312,204
1,222,522
-
-
312,204
1,222,522
1,534,726
1,004,499
6/12/1998
Tyngsboro
MA
-
460,506
2,709,809
-
-
460,506
2,709,809
3,170,315
-
In Progress
12/21/2018
N/A
Warren
MI
-
356,348
903,351
155,408
31,687
356,348
1,090,445
1,446,793
912,888
1/9/1998
Waite Park
MN
-
479,264
2,481,978
-
-
479,264
2,481,978
2,961,242
45,503
7/30/2018
Lee's Summit
MO
-
330,000
993,787
40,769
20,450
330,000
1,055,007
1,385,007
781,834
6/17/1999
Green Brook
NJ
-
906,156
315,789
-
-
906,156
315,789
1,221,945
-
In Progress
12/21/2018
N/A
North Plainfield
NJ
-
985,430
1,590,447
-
-
985,430
1,590,447
2,575,877
1,222,904
9/24/1998
Albuquerque
NM
-
684,036
874,914
309,469
-
684,036
1,184,383
1,868,419
950,460
12/31/1998
Middletown
OH
-
337,572
777,943
41,328
22,683
337,572
841,954
1,179,526
708,981
12/30/1997
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Mount Pleasant
SC
-
40,700
180,400
111,572
6,545
40,700
298,518
339,218
246,369
12/22/1981
Seattle
WA
-
776,889
603,111
-
-
776,889
603,111
1,380,000
15,078
5/23/2018
Restaurants - Casual Dining
Boaz
AL
-
829,001
1,541,245
14,413
829,001
1,556,138
2,385,139
762,222
11/1/2006
Gadsden
AL
-
242,194
449,977
6,042
12,255
242,194
468,274
710,468
226,729
9/14/2006
Gadsden
AL
-
851,124
1,582,332
83,171
25,239
851,124
1,690,741
2,541,865
814,124
11/1/2006
Sylacauga
AL
-
801,413
1,495,412
66,034
-
801,413
1,561,445
2,362,858
745,873
11/1/2006
El Dorado
AR
-
907,534
1,687,608
187,309
20,759
907,534
1,895,676
2,803,210
871,711
11/1/2006
Jacksonville
AR
-
267,376
497,124
29,762
11,529
267,376
538,415
805,791
251,626
9/14/2006
Russellville
AR
-
864,497
-
-
24,800
864,497
24,800
889,297
8,584
11/1/2006
Flagstaff
AZ
-
846,045
1,980,383
-
-
846,045
1,980,383
2,826,428
221,143
3/30/2016
Glendale
AZ
-
624,761
895,976
345,825
50,906
624,761
1,292,706
1,917,467
898,837
3/6/1996
Glendale
AZ
-
1,940,000
1,889,732
-
-
1,940,000
1,889,732
3,829,732
211,020
3/30/2016
Goodyear
AZ
-
794,360
1,274,445
-
-
794,360
1,274,445
2,068,805
625,747
4/8/2005
Surprise
AZ
-
681,288
1,008,310
-
-
681,288
1,008,310
1,689,598
558,379
4/16/2004
Tucson
AZ
-
332,869
2,009,236
-
-
332,869
2,009,236
2,342,105
30,139
8/9/2018
Barstow
CA
-
689,842
690,204
3,820
33,670
689,842
727,694
1,417,536
570,105
9/24/1998
Concord
CA
-
968,861
2,437,134
-
-
968,861
2,437,134
3,405,995
36,557
8/9/2018
La Verne
CA
-
-
1,477,413
-
-
-
1,477,413
1,477,413
352,117
1/22/2013
Rancho Cucamonga
CA
-
95,192
441,334
-
31,616
95,192
472,949
568,141
444,340
12/20/1985
San Dimas
CA
-
240,562
445,521
91,821
2,690
240,562
540,032
780,594
536,087
3/12/1981
Castle Rock
CO
-
588,628
1,486,059
-
-
588,628
1,486,059
2,074,687
22,291
8/9/2018
Denver
CO
-
540,250
1,132,450
-
-
540,250
1,132,450
1,672,700
633,607
3/29/2004
Fort Collins
CO
-
898,688
2,103,607
-
-
898,688
2,103,607
3,002,295
234,903
3/30/2016
Lakewood
CO
-
1,606,511
5,865
-
-
1,606,511
5,865
1,612,376
3,374
12/31/2002
Louisville
CO
-
997,040
1,721,700
-
-
997,040
1,721,700
2,718,740
192,257
3/30/2016
Montrose
CO
-
460,841
1,464,886
-
-
460,841
1,464,886
1,925,727
21,973
8/9/2018
Parker
CO
-
-
1,789,040
-
-
-
1,789,040
1,789,040
426,388
1/22/2013
Parker
CO
-
778,054
1,148,443
-
-
778,054
1,148,443
1,926,497
619,710
2/23/2005
New Milford
CT
-
-
705,127
24,437
26,125
-
755,690
755,690
359,144
8/30/2007
Plainville
CT
-
-
1,452,933
(328,000
)
-
-
1,124,933
1,124,933
632,004
8/30/2007
N/A
Torrington
CT
-
504,167
939,051
99,223
10,000
504,167
1,048,274
1,552,441
484,627
8/30/2007
Apopka
FL
-
801,435
2,090,658
-
-
801,435
2,090,658
2,892,093
31,360
8/9/2018
Boca Raton
FL
-
1,059,225
2,346,769
-
-
1,059,225
2,346,769
3,405,994
35,202
8/9/2018
Clearwater
FL
-
479,102
1,849,333
-
-
479,102
1,849,333
2,328,435
27,740
8/9/2018
Davenport
FL
-
2,294,150
2,764,884
-
-
2,294,150
2,764,884
5,059,034
41,473
8/9/2018
Fort Walton Beach
FL
-
697,269
1,544,836
-
-
697,269
1,544,836
2,242,105
23,173
8/9/2018
Jacksonville
FL
-
1,451,180
658,461
59,396
1,451,180
717,870
2,169,050
360,440
5/9/2006
Jacksonville
FL
-
1,496,914
1,277,648
-
-
1,496,914
1,277,648
2,774,562
19,165
8/9/2018
Jacksonville
FL
-
848,830
1,880,629
-
-
848,830
1,880,629
2,729,459
28,209
8/9/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Lakeland
FL
-
1,018,551
1,273,189
-
-
1,018,551
1,273,189
2,291,740
303,443
1/22/2013
Land O' Lakes
FL
-
770,136
1,190,937
-
-
770,136
1,190,937
1,961,073
614,173
3/24/2005
Leesburg
FL
-
1,060,000
1,914,025
-
-
1,060,000
1,914,025
2,974,025
118,032
6/28/2017
Melbourne
FL
-
629,596
2,284,910
-
-
629,596
2,284,910
2,914,506
34,274
8/9/2018
Merritt Island
FL
-
815,764
1,807,368
-
-
815,764
1,807,368
2,623,132
27,111
8/9/2018
New Port Richey
FL
-
929,402
1,472,142
44,219
32,400
929,402
1,548,761
2,478,163
784,882
8/1/2006
Orange City
FL
-
1,290,082
1,612,603
-
-
1,290,082
1,612,603
2,902,685
384,337
1/22/2013
Orange City
FL
-
2,793,373
2,401,646
-
-
2,793,373
2,401,646
5,195,019
36,025
8/9/2018
Orlando
FL
-
230,000
1,066,339
-
-
230,000
1,066,339
1,296,339
1,066,339
11/18/1985
N/A
Orlando
FL
-
1,135,310
1,306,940
78,395
18,309
1,135,310
1,403,644
2,538,954
645,725
6/30/2006
Orlando
FL
-
-
790,583
24,415
38,527
-
853,525
853,525
410,119
8/30/2007
Orlando
FL
-
2,847,074
2,084,637
-
-
2,847,074
2,084,637
4,931,711
31,270
8/9/2018
Palatka
FL
-
1,527,426
1,881,261
-
-
1,527,426
1,881,261
3,408,687
28,219
8/9/2018
Pensacola
FL
-
809,247
1,792,929
-
-
809,247
1,792,929
2,602,176
26,894
8/9/2018
Sebring
FL
-
737,465
921,832
-
-
737,465
921,832
1,659,297
219,703
1/22/2013
Spring Hill
FL
-
1,100,000
2,128,182
-
-
1,100,000
2,128,182
3,228,182
131,238
6/28/2017
Sunrise
FL
-
1,393,153
3,086,605
-
-
1,393,153
3,086,605
4,479,758
46,299
8/9/2018
Vero Beach
FL
-
1,381,247
1,726,559
-
-
1,381,247
1,726,559
3,107,806
411,497
1/22/2013
Winter Haven
FL
-
2,040,000
1,830,126
-
-
2,040,000
1,830,126
3,870,126
112,858
6/28/2017
Melbourne
FL
-
-
790,583
17,574
-
-
808,157
808,157
775,832
8/30/2007
Americus
GA
-
709,624
1,319,578
146,843
6,036
709,624
1,472,457
2,182,081
704,729
11/1/2006
Buford
GA
-
1,229,933
1,537,417
2,000
-
1,229,933
1,539,417
2,769,350
366,663
1/22/2013
Conyers
GA
-
1,047,499
2,451,936
-
-
1,047,499
2,451,936
3,499,435
273,800
3/30/2016
Douglasville
GA
-
1,345,928
2,324,166
-
-
1,345,928
2,324,166
3,670,094
259,532
3/30/2016
Gainesville
GA
-
922,954
2,160,409
-
-
922,954
2,160,409
3,083,363
241,246
3/30/2016
Gainesville
GA
-
1,052,842
1,705,798
-
-
1,052,842
1,705,798
2,758,640
25,587
8/9/2018
Garden City
GA
-
197,225
438,043
142,590
3,257
197,225
583,890
781,115
513,495
4/20/1989
Hiram
GA
-
658,770
1,459,540
-
-
658,770
1,459,540
2,118,310
21,893
8/9/2018
Lilburn
GA
-
413,990
1,571,280
-
-
413,990
1,571,280
1,985,270
23,569
8/9/2018
Norcross
GA
-
827,707
1,538,875
115,596
16,522
827,707
1,670,992
2,498,699
833,281
11/1/2006
Savannah
GA
-
719,188
1,337,352
93,855
23,190
719,188
1,454,396
2,173,584
707,950
11/1/2006
Savannah
GA
-
1,204,088
2,079,235
-
-
1,204,088
2,079,235
3,283,323
232,181
3/30/2016
Statesboro
GA
-
926,462
1,722,290
-
19,800
926,462
1,742,090
2,668,552
844,836
11/1/2006
Suwanee
GA
-
1,490,000
2,065,314
-
-
1,490,000
2,065,314
3,555,314
230,627
3/30/2016
Thomasville
GA
-
894,504
1,662,939
87,387
26,155
894,504
1,776,480
2,670,984
883,798
11/1/2006
Valdosta
GA
-
901,658
1,676,225
4,820
30,696
901,658
1,711,741
2,613,399
846,737
11/1/2006
Warner Robins
GA
-
1,286,698
2,221,885
-
-
1,286,698
2,221,885
3,508,583
248,110
3/30/2016
Waycross
GA
-
956,765
1,778,566
-
-
956,765
1,778,566
2,735,331
862,603
11/1/2006
Lithonia
GA
-
89,220
-
-
-
89,220
-
89,220
-
1/4/1985
N/A
Sioux City
IA
-
979,171
1,690,845
-
-
979,171
1,690,845
2,670,016
188,811
3/30/2016
Cedar Rapids
IA
-
822,331
1,528,939
-
822,331
1,529,141
2,351,472
741,594
11/1/2006
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Nampa
ID
-
74,156
343,820
28,206
-
74,156
372,026
446,182
361,447
12/31/1986
Rexburg
ID
-
90,760
420,787
59,798
-
90,760
480,585
571,345
455,807
11/25/1985
Alton
IL
-
225,785
419,315
98,057
23,817
225,785
541,189
766,974
448,194
10/18/1988
Champaign
IL
-
590,000
2,081,355
-
-
590,000
2,081,355
2,671,355
232,418
3/30/2016
Mount Vernon
IL
-
883,110
1,641,741
-
-
883,110
1,641,741
2,524,851
796,243
11/1/2006
Oswego
IL
-
953,394
1,208,677
1,988
32,467
953,394
1,243,132
2,196,526
661,947
6/24/2005
Peoria
IL
-
662,460
1,060,577
14,651
12,085
662,460
1,087,312
1,749,772
615,303
6/15/2004
Swansea
IL
-
890,625
1,670,522
292,329
21,851
890,625
1,984,702
2,875,327
1,005,161
11/1/2006
Effingham
IL
-
783,528
1,456,874
-
-
783,528
1,456,874
2,240,402
706,583
11/1/2006
Anderson
IN
-
831,077
1,545,131
16,655
30,694
831,077
1,592,480
2,423,557
784,671
11/1/2006
Evansville
IN
-
999,824
1,726,507
-
-
999,824
1,726,507
2,726,331
192,793
3/30/2016
Lafayette
IN
-
1,273,149
2,198,489
-
-
1,273,149
2,198,489
3,471,638
245,498
3/30/2016
Marion
IN
-
685,194
1,274,206
45,372
19,275
685,194
1,338,852
2,024,046
661,324
11/1/2006
Salina
KS
-
683,265
1,647,429
-
-
683,265
1,647,429
2,330,694
226,027
12/17/2014
Shawnee
KS
-
-
1,573,049
-
-
-
1,573,049
1,573,049
374,910
1/22/2013
Topeka
KS
-
1,005,484
1,256,855
-
-
1,005,484
1,256,855
2,262,339
299,550
1/22/2013
Wichita
KS
-
900,768
2,108,474
-
-
900,768
2,108,474
3,009,242
235,446
3/30/2016
Shawnee
KS
-
953,916
1,773,245
-
-
953,916
1,773,245
2,727,161
860,023
11/1/2006
Richmond
KY
-
913,770
-
-
29,920
913,770
29,920
943,690
1,752
11/1/2006
Alexandria
LA
-
-
1,118,270
-
-
-
1,118,270
1,118,270
266,521
1/22/2013
Alexandria
LA
-
740,000
1,800,869
-
-
740,000
1,800,869
2,540,869
201,097
3/30/2016
Alexandria
LA
-
666,967
2,029,328
-
-
666,967
2,029,328
2,696,295
30,440
8/9/2018
Baton Rouge
LA
-
-
1,748,499
-
-
-
1,748,499
1,748,499
416,726
1/22/2013
Covington
LA
-
1,250,677
2,159,685
-
-
1,250,677
2,159,685
3,410,362
241,165
3/30/2016
Covington
LA
-
1,066,926
2,363,832
-
-
1,066,926
2,363,832
3,430,758
35,457
8/9/2018
Hammond
LA
-
982,891
2,177,647
-
-
982,891
2,177,647
3,160,538
32,665
8/9/2018
Houma
LA
-
1,061,671
1,973,864
12,063
48,189
1,061,671
2,034,116
3,095,787
992,501
11/1/2006
Lafayette
LA
-
980,000
2,171,859
-
-
980,000
2,171,859
3,151,859
133,931
6/28/2017
Lake Charles
LA
-
790,398
1,850,125
-
-
790,398
1,850,125
2,640,523
206,597
3/30/2016
Shreveport
LA
-
269,130
500,382
-
10,357
269,130
510,739
779,869
249,602
9/14/2006
Slidell
LA
-
1,340,000
2,019,213
-
-
1,340,000
2,019,213
3,359,213
205,287
6/29/2016
West Monroe
LA
-
839,404
1,964,836
-
-
839,404
1,964,836
2,804,240
219,407
3/30/2016
Zachary
LA
-
898,306
1,670,527
84,999
28,442
898,306
1,783,968
2,682,274
842,862
11/1/2006
New Iberia
LA
-
917,582
1,706,269
80,944
-
917,582
1,787,213
2,704,795
878,530
11/1/2006
Ruston
LA
-
982,427
1,826,696
-
-
982,427
1,826,696
2,809,123
885,946
11/1/2006
Great Barrington
MA
-
422,625
788,089
91,875
10,347
422,625
890,311
1,312,936
409,698
8/30/2007
Sudbury
MA
-
-
633,843
100,354
28,761
-
762,957
762,957
405,128
8/30/2007
Tewksbury
MA
-
392,079
730,927
19,598
14,701
392,079
765,226
1,157,305
346,370
8/30/2007
West Springfield
MA
-
243,556
455,532
128,262
9,894
243,556
593,689
837,245
267,024
8/30/2007
Wilbraham
MA
-
9,626,112
19,966,516
-
-
9,626,112
19,966,516
29,592,628
8,387,804
8/30/2007
North Adams
MA
-
377,300
703,914
(646,163
)
-
377,300
57,751
435,051
325,492
8/30/2007
N/A
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Auburn Hills
MI
-
1,171,676
2,595,910
-
-
1,171,676
2,595,910
3,767,586
38,939
8/9/2018
Flint
MI
-
885,144
1,645,531
70,987
32,018
885,144
1,748,536
2,633,680
870,010
11/1/2006
Lansing
MI
-
873,536
1,623,973
-
55,078
873,536
1,679,051
2,552,587
798,476
11/1/2006
Saginaw
MI
-
766,531
1,425,263
14,030
23,051
766,531
1,462,345
2,228,876
720,849
11/1/2006
Saginaw
MI
-
1,153,595
1,992,043
-
-
1,153,595
1,992,043
3,145,638
222,445
3/30/2016
Flint
MI
-
827,853
-
5,631
-
827,853
5,631
833,484
1,512
4/13/1995
Champlin
MN
-
583,515
729,394
-
-
583,515
729,394
1,312,909
173,839
1/22/2013
Inver Grove Hghts
MN
-
1,010,000
2,344,614
-
-
1,010,000
2,344,614
3,354,614
261,815
3/30/2016
Roseville
MN
-
281,600
1,305,560
-
281,600
1,305,847
1,587,447
1,305,792
12/18/1984
Bridgeton
MO
-
743,559
1,594,257
286,251
21,240
743,559
1,901,748
2,645,307
877,901
11/1/2006
Jefferson City
MO
-
713,088
1,325,993
98,612
22,035
713,088
1,446,640
2,159,728
682,338
11/1/2006
Kansas City
MO
-
715,640
894,550
-
-
715,640
894,550
1,610,190
213,201
1/22/2013
Kansas City
MO
-
872,364
1,090,455
-
-
872,364
1,090,455
1,962,819
259,892
1/22/2013
Ozark
MO
-
140,000
292,482
-
-
140,000
292,482
432,482
247,137
11/20/1997
Raymore
MO
-
726,583
1,351,055
12,549
23,779
726,583
1,387,383
2,113,966
664,589
11/1/2006
Sedalia
MO
-
269,798
599,231
11,556
-
269,798
610,787
880,585
610,787
7/31/1989
N/A
Sedalia
MO
-
696,604
1,295,380
39,992
696,604
1,336,206
2,032,810
645,400
11/1/2006
Springfield
MO
-
-
1,390,167
-
-
-
1,390,167
1,390,167
331,323
1/22/2013
St. Charles
MO
-
175,413
809,791
-
175,413
809,871
985,284
809,855
8/28/1985
St. Charles
MO
-
695,121
1,001,878
-
1,149
695,121
1,003,027
1,698,148
923,842
3/16/1995
St. Robert
MO
-
744,158
1,383,694
-
31,455
744,158
1,415,149
2,159,307
699,883
11/1/2006
Sullivan
MO
-
85,500
396,400
(40,743
)
13,500
85,500
369,157
454,657
374,744
12/27/1984
Farmington
MO
-
780,812
1,451,767
214,865
25,259
780,812
1,691,890
2,472,702
813,469
11/1/2006
Hazelwood
MO
-
157,117
725,327
(104,329
)
-
157,117
620,998
778,115
634,680
8/28/1985
Poplar Bluff
MO
-
774,256
1,439,603
(383,900
)
-
774,256
1,055,703
1,829,959
698,206
11/1/2006
N/A
Hattiesburg
MS
-
856,070
1,592,088
-
-
856,070
1,592,088
2,448,158
772,161
11/1/2006
Hattiesburg
MS
-
813,354
1,802,030
-
-
813,354
1,802,030
2,615,384
27,030
8/9/2018
Jackson
MS
-
1,122,344
2,486,612
-
-
1,122,344
2,486,612
3,608,956
37,299
8/9/2018
Vicksburg
MS
-
698,189
1,301,131
(671,343
)
11,049
698,189
640,837
1,339,026
699,098
11/1/2006
N/A
Columbus
MS
-
720,310
1,339,963
-
-
720,310
1,339,963
2,060,273
649,881
11/1/2006
Corinth
MS
-
867,086
1,612,029
-
-
867,086
1,612,029
2,479,115
781,833
11/1/2006
Meridian
MS
-
-
2,481,172
234,694
-
-
2,715,866
2,715,866
1,222,988
11/1/2006
Durham
NC
-
1,034,787
2,422,182
-
-
1,034,787
2,422,182
3,456,969
270,477
3/30/2016
Gastonia
NC
-
1,340,000
2,655,512
-
-
1,340,000
2,655,512
3,995,512
163,757
6/28/2017
Goldsboro
NC
-
811,502
1,509,029
72,109
35,050
811,502
1,616,188
2,427,690
806,515
11/1/2006
Greenville
NC
-
760,000
1,837,890
-
-
760,000
1,837,890
2,597,890
205,231
3/30/2016
Highpoint
NC
-
1,170,000
2,301,150
-
-
1,170,000
2,301,150
3,471,150
233,950
6/29/2016
Lumberton
NC
-
1,560,000
2,521,795
-
-
1,560,000
2,521,795
4,081,795
281,600
3/30/2016
Rocky Mount
NC
-
996,506
2,332,575
-
-
996,506
2,332,575
3,329,081
260,471
3/30/2016
Salisbury
NC
-
650,000
2,103,127
-
-
650,000
2,103,127
2,753,127
213,818
6/29/2016
Southern Pines
NC
-
1,444,847
2,494,980
-
-
1,444,847
2,494,980
3,939,827
278,606
3/30/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Winston-Salem
NC
-
1,093,829
2,560,382
-
-
1,093,829
2,560,382
3,654,211
285,909
3/30/2016
Salisbury
NC
-
777,412
1,445,863
(833,700
)
-
777,412
612,163
1,389,575
641,044
11/1/2006
N/A
Sylva
NC
-
919,724
1,709,783
-
-
919,724
1,709,783
2,629,507
829,243
11/1/2006
Bellevue
NE
-
656,061
1,004,384
-
-
656,061
1,004,384
1,660,445
528,656
2/24/2005
Omaha
NE
-
592,716
1,009,253
-
592,716
1,009,285
1,602,001
542,802
12/21/2004
Papillion
NE
-
654,788
908,685
-
-
654,788
908,685
1,563,473
493,027
1/12/2005
Portsmouth
NH
-
391,650
730,167
37,475
18,167
391,650
785,808
1,177,458
373,707
8/30/2007
Pompton Plains
NJ
-
455,700
849,125
88,127
17,448
455,700
954,700
1,410,400
409,086
8/30/2007
Toms River
NJ
-
826,449
1,537,659
-
-
826,449
1,537,659
2,364,108
699,617
8/30/2007
Albuquerque
NM
-
-
1,307,933
-
-
-
1,307,933
1,307,933
311,724
1/22/2013
Las Vegas
NV
-
462,405
2,251,278
-
-
462,405
2,251,278
2,713,683
33,769
8/9/2018
Albany
NY
-
457,538
852,510
42,302
13,692
457,538
908,505
1,366,043
425,135
8/30/2007
Delmar
NY
-
316,382
590,387
24,178
14,789
316,382
629,354
945,736
302,076
8/30/2007
Rochester
NY
-
-
1,911,958
-
-
-
1,911,958
1,911,958
455,684
1/22/2013
Akron
OH
-
318,182
593,654
39,113
-
318,182
632,767
950,949
276,898
8/30/2007
Copley
OH
-
723,347
249,106
23,690
723,347
272,813
996,160
73,171
12/22/1994
Dayton
OH
-
1,284,902
2,218,783
-
-
1,284,902
2,218,783
3,503,685
247,764
3/30/2016
Marion
OH
-
739,651
1,375,358
186,367
21,626
739,651
1,583,351
2,323,002
686,499
11/1/2006
Mason
OH
-
770,000
2,246,001
-
-
770,000
2,246,001
3,016,001
228,343
6/29/2016
Sandusky
OH
-
824,270
1,532,494
-
-
824,270
1,532,494
2,356,764
743,258
11/1/2006
Springdale
OH
-
1,895,200
2,369,000
-
-
1,895,200
2,369,000
4,264,200
564,612
1/22/2013
Stow
OH
-
317,546
712,455
-
317,546
712,569
1,030,115
712,569
12/31/1987
N/A
Westlake
OH
-
922,871
2,160,212
-
-
922,871
2,160,212
3,083,083
241,224
3/30/2016
Claremore
OK
-
823,731
1,825,019
-
-
823,731
1,825,019
2,648,750
27,375
8/9/2018
Norman
OK
-
734,335
335,097
-
78,164
734,335
413,261
1,147,596
226,387
6/5/1995
Norman
OK
-
1,260,559
2,176,748
-
-
1,260,559
2,176,748
3,437,307
243,070
3/30/2016
Oklahoma City
OK
-
759,826
-
235,726
34,874
759,826
270,600
1,030,426
49,937
7/6/1995
Oklahoma City
OK
-
1,165,405
2,165,989
-
45,131
1,165,405
2,211,119
3,376,524
1,075,630
11/1/2006
Ponca City
OK
-
625,000
1,454,300
-
-
625,000
1,454,300
2,079,300
185,829
1/20/2015
Tulsa
OK
-
490,000
910,004
-
-
490,000
910,004
1,400,004
471,685
1/24/2006
Tulsa
OK
-
360,500
669,605
14,520
-
360,500
684,125
1,044,625
342,466
5/10/2006
Tulsa
OK
-
1,021,904
1,899,486
29,140
21,989
1,021,904
1,950,615
2,972,519
947,540
11/1/2006
Beaverton
OR
-
-
1,689,352
-
-
-
1,689,352
1,689,352
402,629
1/22/2013
Lake Oswego
OR
-
175,899
815,508
181,383
41,962
175,899
1,038,853
1,214,752
917,493
5/16/1984
Salem
OR
-
-
865,668
-
-
-
865,668
865,668
206,318
1/22/2013
Hermiston
OR
-
85,560
396,675
73,725
-
85,560
470,400
555,960
430,345
12/18/1984
Harrisburg
PA
-
577,667
1,075,635
-
22,033
577,667
1,097,668
1,675,335
504,408
8/30/2007
Horsham
PA
-
554,361
1,032,352
-
-
554,361
1,032,352
1,586,713
469,703
8/30/2007
Indiana
PA
-
828,653
1,540,630
78,376
17,739
828,653
1,636,745
2,465,398
791,341
11/1/2006
Tarentum
PA
-
813,510
1,802,374
-
-
813,510
1,802,374
2,615,884
27,036
8/9/2018
Philadelphia
PA
-
503,556
937,999
-
-
503,556
937,999
1,441,555
426,773
8/30/2007
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Columbia
SC
-
1,100,000
1,829,980
-
-
1,100,000
1,829,980
2,929,980
204,348
3/30/2016
Florence
SC
-
956,430
2,238,768
-
-
956,430
2,238,768
3,195,198
249,996
3/30/2016
Greenwood
SC
-
822,783
1,420,792
-
-
822,783
1,420,792
2,243,575
158,655
3/30/2016
Hilton Head
SC
-
1,218,232
1,522,790
-
-
1,218,232
1,522,790
2,741,022
362,932
1/22/2013
N Myrtle Beach
SC
-
945,478
2,213,132
-
-
945,478
2,213,132
3,158,610
247,133
3/30/2016
Rock Hill
SC
-
826,216
1,536,499
46,661
826,216
1,583,640
2,409,856
769,315
11/1/2006
Rock Hill
SC
-
1,150,000
2,178,624
-
-
1,150,000
2,178,624
3,328,624
243,280
3/30/2016
Sumter
SC
-
1,232,145
2,127,682
-
-
1,232,145
2,127,682
3,359,827
237,591
3/30/2016
Gaffney
SC
-
727,738
1,360,038
75,315
727,738
1,435,588
2,163,326
699,699
11/1/2006
Sioux Falls
SD
-
1,046,609
1,807,297
-
-
1,046,609
1,807,297
2,853,906
201,815
3/30/2016
Bartlett
TN
-
420,000
674,437
76,972
20,326
420,000
771,735
1,191,735
581,954
2/23/1999
Clarksville
TN
-
1,239,731
2,746,690
-
-
1,239,731
2,746,690
3,986,421
41,200
8/9/2018
Dyersburg
TN
-
695,135
1,300,494
214,518
-
695,135
1,515,012
2,210,147
719,804
11/1/2006
Johnson City
TN
-
881,225
1,638,285
241,215
16,066
881,225
1,895,566
2,776,791
862,142
11/1/2006
Johnson City
TN
-
1,066,349
1,763,323
-
-
1,066,349
1,763,323
2,829,672
26,450
8/9/2018
Memphis
TN
-
871,951
1,621,017
349,106
871,951
1,970,134
2,842,085
871,330
11/1/2006
Memphis
TN
-
1,217,412
1,521,765
-
-
1,217,412
1,521,765
2,739,177
362,687
1/22/2013
Memphis
TN
-
-
1,336,687
-
-
-
1,336,687
1,336,687
318,577
1/22/2013
Morristown
TN
-
182,935
340,274
-
10,826
182,935
351,100
534,035
182,225
12/22/2005
Murfreesboro
TN
-
1,428,122
2,466,098
-
-
1,428,122
2,466,098
3,894,220
275,381
3/30/2016
Chattanooga
TN
-
827,594
1,538,633
(1,138,182
)
-
827,594
400,451
1,228,045
758,010
11/1/2006
Kingsport
TN
-
786,332
1,469,005
(1,006,470
)
-
786,332
462,535
1,248,867
804,410
11/1/2006
Newport
TN
-
640,841
1,191,858
71,563
-
640,841
1,263,421
1,904,262
617,490
11/1/2006
Abilene
TX
-
1,345,584
2,981,213
-
-
1,345,584
2,981,213
4,326,797
44,718
8/9/2018
Amarillo
TX
-
763,283
1,995,460
-
-
763,283
1,995,460
2,758,743
806,437
3/3/2008
Amarillo
TX
-
609,000
1,486,302
-
-
609,000
1,486,302
2,095,302
204,751
10/3/2014
Angleton
TX
-
774,342
1,715,597
-
-
774,342
1,715,597
2,489,939
25,734
8/9/2018
Austin
TX
-
699,395
1,167,223
-
699,395
1,167,368
1,866,763
592,616
9/15/2005
Austin
TX
-
976,803
1,361,281
36,880
30,504
976,803
1,428,664
2,405,467
720,727
6/19/2006
Bedford
TX
-
919,303
98,231
23,966
919,303
122,455
1,041,758
115,401
12/27/1994
Cedar Park
TX
-
634,489
1,472,504
-
634,489
1,472,770
2,107,259
732,212
1/13/2006
College Station
TX
-
530,000
1,583,306
-
-
530,000
1,583,306
2,113,306
97,637
6/28/2017
El Campo
TX
-
98,060
454,631
-
-
98,060
454,631
552,691
454,631
11/25/1985
N/A
El Paso
TX
-
-
1,399,487
-
-
-
1,399,487
1,399,487
333,544
1/22/2013
El Paso
TX
-
-
1,591,758
-
-
-
1,591,758
1,591,758
379,369
1/22/2013
El Paso
TX
-
1,047,645
2,321,113
-
-
1,047,645
2,321,113
3,368,758
34,817
8/9/2018
Georgetown
TX
-
870,981
1,190,574
193,067
56,236
870,981
1,439,878
2,310,859
753,289
1/13/2006
Granbury
TX
-
1,495,726
3,313,860
-
-
1,495,726
3,313,860
4,809,586
49,708
8/9/2018
Greenville
TX
-
909,311
1,696,248
29,206
27,914
909,311
1,753,368
2,662,679
878,784
11/1/2006
Harker Heights
TX
-
943,812
1,897,644
-
-
943,812
1,897,644
2,841,456
773,307
3/20/2008
Hillsboro
TX
-
75,992
352,316
158,254
9,364
75,992
519,934
595,926
452,626
8/1/1984
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Houston
TX
-
1,096,376
2,300,690
235,500
102,443
1,096,376
2,638,633
3,735,009
2,277,231
9/5/1997
Houston
TX
-
989,152
1,838,713
-
25,823
989,152
1,864,536
2,853,688
917,590
11/1/2006
Houston
TX
-
898,415
1,990,486
-
-
898,415
1,990,486
2,888,901
29,857
8/9/2018
Irving
TX
-
1,500,411
2,156
-
-
1,500,411
2,156
1,502,567
1,369
2/5/2003
Killeen
TX
-
1,327,348
2,467,204
17,494
28,845
1,327,348
2,513,543
3,840,891
1,223,177
11/1/2006
Killeen
TX
-
1,270,258
2,814,324
-
-
1,270,258
2,814,324
4,084,582
42,215
8/9/2018
Live Oak
TX
-
727,956
1,214,835
181,920
42,902
727,956
1,439,658
2,167,614
814,164
6/1/2005
Lufkin
TX
-
105,904
490,998
-
-
105,904
490,998
596,902
490,998
10/8/1985
N/A
Mesquite
TX
-
729,596
120,820
-
729,596
120,911
850,507
120,911
12/23/1994
N/A
Mexia
TX
-
93,620
434,046
50,273
11,861
93,620
496,181
589,801
478,914
12/18/1985
New Braunfels
TX
-
860,262
1,169,016
250,000
56,399
860,262
1,475,415
2,335,677
897,776
10/12/2005
New Braunfels
TX
-
795,995
1,763,570
-
-
795,995
1,763,570
2,559,565
26,454
8/9/2018
North Richland Hills
TX
-
1,227,125
2,718,760
-
-
1,227,125
2,718,760
3,945,885
40,781
8/9/2018
Palestine
TX
-
825,066
1,534,394
59,064
26,449
825,066
1,619,907
2,444,973
780,966
11/1/2006
Plano
TX
-
2,420,222
-
-
2,420,222
2,420,991
6/27/2002
San Antonio
TX
-
835,431
1,185,257
-
49,500
835,431
1,234,757
2,070,188
663,688
6/24/2005
San Antonio
TX
-
690,443
1,109,136
-
40,500
690,443
1,149,636
1,840,079
617,845
6/27/2005
San Antonio
TX
-
835,586
1,227,220
-
45,000
835,586
1,272,220
2,107,806
644,484
5/9/2006
San Marcos
TX
-
1,270,493
2,814,844
-
-
1,270,493
2,814,844
4,085,337
42,223
8/9/2018
Sugar Land
TX
-
1,376,186
1,720,233
-
-
1,376,186
1,720,233
3,096,419
409,989
1/22/2013
Temple
TX
-
797,574
1,193,813
1,350
797,574
1,195,308
1,992,882
590,455
4/7/2006
Waxahachie
TX
-
326,935
726,137
65,992
20,790
326,935
812,918
1,139,853
776,030
12/29/1987
Waxahachie
TX
-
1,916,772
1,618,719
-
-
1,916,772
1,618,719
3,535,491
24,281
8/9/2018
Weslaco
TX
-
1,496,534
3,315,650
-
-
1,496,534
3,315,650
4,812,184
49,735
8/9/2018
Wylie
TX
-
1,353,706
2,999,207
-
-
1,353,706
2,999,207
4,352,913
44,988
8/9/2018
Houston
TX
-
194,994
386,056
-
-
194,994
386,056
581,050
386,056
6/25/1991
N/A
Longview
TX
-
1,231,857
2,289,864
-
1,231,857
2,289,977
3,521,834
1,110,630
11/1/2006
Waxahachie
TX
-
1,035,794
1,925,746
-
-
1,035,794
1,925,746
2,961,540
933,986
11/1/2006
Centerville
UT
-
1,056,314
1,320,393
-
-
1,056,314
1,320,393
2,376,707
314,694
1/22/2013
Riverdale
UT
-
2,253,531
2,212,370
-
-
2,253,531
2,212,370
4,465,901
33,186
8/9/2018
Charlottesville
VA
-
-
1,283,010
-
-
-
1,283,010
1,283,010
305,784
1/22/2013
Chesterfield
VA
-
740,000
2,258,709
-
-
740,000
2,258,709
2,998,709
139,287
6/28/2017
Christiansburg
VA
-
1,335,724
2,306,544
-
-
1,335,724
2,306,544
3,642,268
257,564
3/30/2016
Danville
VA
-
751,055
1,396,772
66,062
18,130
751,055
1,480,964
2,232,019
738,329
11/1/2006
Martinsville
VA
-
833,114
1,549,167
71,660
13,084
833,114
1,633,912
2,467,026
784,270
11/1/2006
Midlothian
VA
-
421,479
785,639
248,110
27,205
421,479
1,060,954
1,482,433
526,901
8/30/2007
Roanoke
VA
-
-
1,660,095
-
-
-
1,660,095
1,660,095
395,656
1/22/2013
Williamsburg
VA
-
1,550,000
1,836,709
-
-
1,550,000
1,836,709
3,386,709
186,732
6/29/2016
Staunton
VA
-
867,684
1,620,218
(778,682
)
-
867,684
841,535
1,709,219
799,706
11/1/2006
Williamsburg
VA
-
651,167
1,212,201
(533,715
)
-
651,167
678,486
1,329,653
557,691
8/30/2007
N/A
Madison
WI
-
770,000
2,243,040
-
-
770,000
2,243,040
3,013,040
250,473
3/30/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Martinsburg
WV
-
1,169,275
2,019,119
-
-
1,169,275
2,019,119
3,188,394
225,468
3/30/2016
Parkersburg
WV
-
722,732
1,343,920
63,217
33,305
722,732
1,440,443
2,163,175
733,605
11/1/2006
Restaurants - Quick Service
Mobile
AL
-
483,217
560,614
-
-
483,217
560,614
1,043,831
17,753
3/30/2018
Montgomery
AL
-
540,207
626,732
-
-
540,207
626,732
1,166,939
19,847
3/30/2018
Alabaster
AL
-
550,000
1,588,482
-
-
550,000
1,588,482
2,138,482
193,265
12/16/2015
Aliceville
AL
-
950,000
1,215,379
-
-
950,000
1,215,379
2,165,379
147,871
12/16/2015
Andalusia
AL
-
252,403
468,949
-
-
252,403
468,949
721,352
230,567
9/14/2006
Athens
AL
-
560,000
1,324,359
-
-
560,000
1,324,359
1,884,359
156,716
1/5/2016
Atmore
AL
-
272,044
505,636
-
-
272,044
505,636
777,680
351,412
8/31/2001
Attalla
AL
-
148,993
276,890
-
-
148,993
276,890
425,883
136,137
9/14/2006
Bessemer
AL
-
172,438
320,429
-
-
172,438
320,429
492,867
157,544
9/14/2006
Birmingham
AL
-
251,434
467,185
-
-
251,434
467,185
718,619
324,690
8/31/2001
Birmingham
AL
-
650,000
1,426,647
-
-
650,000
1,426,647
2,076,647
168,820
1/5/2016
Brent
AL
-
134,432
249,846
-
-
134,432
249,846
384,278
122,841
9/14/2006
Chelsea
AL
-
490,000
1,347,268
-
-
490,000
1,347,268
1,837,268
190,863
6/26/2015
Clanton
AL
-
230,036
427,391
-
-
230,036
427,391
657,427
297,035
8/31/2001
Clanton
AL
-
570,000
1,308,215
-
-
570,000
1,308,215
1,878,215
159,166
12/16/2015
Clanton
AL
-
770,000
1,594,248
-
-
770,000
1,594,248
2,364,248
188,653
1/5/2016
Demopolis
AL
-
251,349
466,972
-
-
251,349
466,972
718,321
324,544
8/31/2001
Fayette
AL
-
1,160,000
1,208,911
-
-
1,160,000
1,208,911
2,368,911
134,995
3/18/2016
Fort Payne
AL
-
303,056
563,001
-
-
303,056
563,001
866,057
391,283
8/31/2001
Fort Payne
AL
-
814,113
-
-
36,593
814,113
36,593
850,706
4,025
11/1/2006
Gardendale
AL
-
398,669
740,568
-
-
398,669
740,568
1,139,237
514,692
8/31/2001
Greenville
AL
-
226,108
420,117
-
-
226,108
420,117
646,225
206,557
9/14/2006
Haleyville
AL
-
262,500
488,357
(192,900
)
-
262,500
295,457
557,957
215,690
12/21/2007
N/A
Hamilton
AL
-
214,198
397,991
-
-
214,198
397,991
612,189
195,679
9/14/2006
Hanceville
AL
-
290,000
1,426,914
-
-
290,000
1,426,914
1,716,914
173,608
12/16/2015
Hartselle
AL
-
820,000
1,232,323
-
-
820,000
1,232,323
2,052,323
149,933
12/16/2015
Henagar
AL
-
530,000
1,688,777
-
-
530,000
1,688,777
2,218,777
188,580
3/18/2016
Hokes Bluff
AL
-
720,000
1,748,671
-
-
720,000
1,748,671
2,468,671
212,755
12/16/2015
Huntsville
AL
-
618,239
694,933
-
-
618,239
694,933
1,313,172
1,158
12/6/2018
Jacksonville
AL
-
680,000
1,270,736
-
-
680,000
1,270,736
1,950,736
180,021
6/26/2015
Jasper
AL
-
850,000
1,219,115
-
-
850,000
1,219,115
2,069,115
148,326
12/16/2015
Leeds
AL
-
171,145
318,028
-
-
171,145
318,028
489,173
156,364
9/14/2006
Lincoln
AL
-
1,200,000
1,392,694
-
-
1,200,000
1,392,694
2,592,694
164,802
1/5/2016
Lineville
AL
-
900,000
1,251,388
-
-
900,000
1,251,388
2,151,388
152,252
12/16/2015
McCalla
AL
-
610,000
1,303,425
-
-
610,000
1,303,425
1,913,425
184,652
6/26/2015
Meridianville
AL
-
250,000
1,430,680
-
-
250,000
1,430,680
1,680,680
169,297
1/5/2016
Millbrook
AL
-
650,000
1,691,984
-
-
650,000
1,691,984
2,341,984
205,858
12/16/2015
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Mobile
AL
-
286,333
531,950
-
-
286,333
531,950
818,283
261,542
9/14/2006
Mobile
AL
-
532,000
606,033
-
-
532,000
606,033
1,138,033
9,090
8/31/2018
Montgomery
AL
-
143,693
267,060
-
-
143,693
267,060
410,753
131,304
9/14/2006
Moody
AL
-
530,000
1,819,472
-
-
530,000
1,819,472
2,349,472
203,174
3/18/2016
Northport
AL
-
832,541
1,040,676
-
-
832,541
1,040,676
1,873,217
248,028
1/22/2013
Oneonta
AL
-
1,190,000
1,151,263
-
-
1,190,000
1,151,263
2,341,263
140,070
12/16/2015
Opp
AL
-
160,778
298,782
-
-
160,778
298,782
459,560
145,905
10/12/2006
Pell City
AL
-
490,000
1,288,925
-
-
490,000
1,288,925
1,778,925
182,598
6/26/2015
Russellville
AL
-
630,000
1,184,964
-
-
630,000
1,184,964
1,814,964
140,221
1/5/2016
Selma
AL
-
910,000
969,042
-
-
910,000
969,042
1,879,042
114,670
1/5/2016
Southside
AL
-
681,987
1,335,165
-
-
681,987
1,335,165
2,017,152
42,280
12/16/2015
Thomasville
AL
-
190,000
490,466
-
-
190,000
490,466
680,466
59,673
12/22/2015
Vernon
AL
-
680,000
1,125,994
-
-
680,000
1,125,994
1,805,994
136,996
12/16/2015
Warrior
AL
-
159,109
295,676
-
-
159,109
295,676
454,785
145,374
9/14/2006
Warrior
AL
-
1,070,000
932,540
-
-
1,070,000
932,540
2,002,540
110,351
1/5/2016
Winfield
AL
-
770,000
1,237,048
-
-
770,000
1,237,048
2,007,048
138,137
3/18/2016
Alabaster
AL
-
335,197
622,697
17,519
-
335,197
640,216
975,413
311,452
9/14/2006
Evergreen
AL
-
148,982
276,881
-
-
148,982
276,881
425,863
136,133
9/14/2006
Arkadelphia
AR
-
248,868
462,744
-
-
248,868
462,744
711,612
225,974
10/12/2006
Arkadelphia
AR
-
185,644
927,190
-
-
185,644
927,190
1,112,834
41,724
11/15/2017
Benton
AR
-
1,091,629
1,227,049
-
-
1,091,629
1,227,049
2,318,678
2,045
12/5/2018
Bentonville
AR
-
377,086
700,582
-
-
377,086
700,582
1,077,668
486,901
8/31/2001
Bryant
AR
-
758,862
853,001
-
-
758,862
853,001
1,611,863
1,422
12/5/2018
Camden
AR
-
289,788
868,292
-
-
289,788
868,292
1,158,080
39,073
11/15/2017
Clarksville
AR
-
273,540
613,361
-
-
273,540
613,361
886,901
27,601
11/15/2017
Clarksville
AR
-
217,379
836,393
-
-
217,379
836,393
1,053,772
1,394
12/5/2018
Conway
AR
-
693,205
812,649
-
-
693,205
812,649
1,505,854
36,569
11/15/2017
Ft Smith
AR
-
318,611
1,108,380
-
-
318,611
1,108,380
1,426,991
1,847
12/5/2018
Greenwood
AR
-
650,414
846,588
-
-
650,414
846,588
1,497,002
38,096
11/15/2017
Heber Springs
AR
-
563,051
464,252
-
-
563,051
464,252
1,027,303
20,891
11/15/2017
Hope
AR
-
288,643
536,715
-
-
288,643
536,715
825,358
373,008
8/31/2001
Hope
AR
-
415,700
751,542
-
-
415,700
751,542
1,167,242
33,819
11/15/2017
Hot Springs
AR
-
672,593
810,264
-
-
672,593
810,264
1,482,857
36,462
11/15/2017
Jacksonville
AR
-
653,580
774,492
-
-
653,580
774,492
1,428,072
34,852
11/15/2017
Jonesboro
AR
-
173,984
323,371
99,392
11,807
173,984
434,570
608,554
174,128
11/16/2007
Little Rock
AR
-
532,846
486,469
-
-
532,846
486,469
1,019,315
12/5/2018
Little Rock
AR
-
564,392
634,406
-
-
564,392
634,406
1,198,798
1,057
12/5/2018
Malvern
AR
-
219,703
408,588
-
-
219,703
408,588
628,291
200,889
9/14/2006
Malvern
AR
-
511,733
768,688
-
-
511,733
768,688
1,280,421
34,591
11/15/2017
Maumelle
AR
-
484,307
544,387
-
-
484,307
544,387
1,028,694
12/5/2018
N Little Rock
AR
-
516,538
580,616
-
-
516,538
580,616
1,097,154
12/5/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
North Little Rock
AR
-
317,000
589,377
-
-
317,000
589,377
906,377
409,608
8/31/2001
Ozark
AR
-
271,100
907,642
-
-
271,100
907,642
1,178,742
40,844
11/15/2017
Pine Bluff
AR
-
373,190
659,262
-
-
373,190
659,262
1,032,452
29,667
11/15/2017
Pine Bluff
AR
-
392,024
692,535
-
-
392,024
692,535
1,084,559
28,856
12/20/2017
Pine Bluff
AR
-
968,840
1,089,027
-
-
968,840
1,089,027
2,057,867
1,815
12/5/2018
Pocahontas
AR
-
241,128
447,988
-
-
241,128
447,988
689,116
218,767
10/12/2006
Rogers
AR
-
455,110
511,568
-
-
455,110
511,568
966,678
12/5/2018
Russellville
AR
-
565,617
635,783
-
-
565,617
635,783
1,201,400
1,060
12/5/2018
Sherwood
AR
-
417,932
748,390
-
-
417,932
748,390
1,166,322
33,678
11/15/2017
Sherwood
AR
-
456,350
512,961
-
-
456,350
512,961
969,311
12/5/2018
Siloam Springs
AR
-
190,000
352,808
-
-
190,000
352,808
542,808
298,112
11/20/1997
Springdale
AR
-
537,965
950,346
-
-
537,965
950,346
1,488,311
42,766
11/15/2017
Stuttgart
AR
-
373,791
711,303
-
-
373,791
711,303
1,085,094
32,009
11/15/2017
Van Buren
AR
-
577,422
1,020,049
-
-
577,422
1,020,049
1,597,471
45,902
11/15/2017
Phoenix
AZ
-
558,472
1,307,998
-
-
558,472
1,307,998
1,866,470
595,137
8/28/2007
Tucson
AZ
-
107,393
500,154
-
-
107,393
500,154
607,547
498,972
1/17/1986
Tucson
AZ
-
463,231
860,982
-
-
463,231
860,982
1,324,213
391,744
8/28/2007
Yuma
AZ
-
236,121
541,651
-
-
236,121
541,651
777,772
446,858
5/28/1998
Fresno
CA
-
561,502
1,043,688
-
-
561,502
1,043,688
1,605,190
474,874
8/28/2007
Livermore
CA
-
662,161
823,242
-
-
662,161
823,242
1,485,403
668,201
9/23/1998
Riverside
CA
-
90,000
170,394
135,301
-
90,000
305,695
395,695
261,118
12/9/1976
Sacramento
CA
-
386,793
417,290
-
-
386,793
417,290
804,083
341,482
7/31/1998
San Ramon
CA
-
406,000
1,126,930
-
-
406,000
1,126,930
1,532,930
1,126,930
12/8/1983
N/A
Aurora
CO
-
288,558
537,322
-
-
288,558
537,322
825,880
244,477
8/28/2007
Aurora
CO
-
210,000
540,346
-
-
210,000
540,346
750,346
159,402
8/29/2011
Broomfield
CO
-
444,277
-
-
-
444,277
-
444,277
-
8/29/2011
N/A
Brush
CO
-
90,000
220,976
-
-
90,000
220,976
310,976
65,188
8/29/2011
Castle Rock
CO
-
670,000
744,760
-
670,000
744,837
1,414,837
103,070
7/21/2015
Colorado Springs
CO
-
152,000
704,736
-
-
152,000
704,736
856,736
704,736
9/30/1986
N/A
Colorado Springs
CO
-
783,909
881,155
-
-
783,909
881,155
1,665,064
1,469
12/5/2018
Denver
CO
-
114,175
1,401,497
-
-
114,175
1,401,497
1,515,672
2,336
12/5/2018
Denver
CO
-
635,065
713,847
-
-
635,065
713,847
1,348,912
1,190
12/5/2018
Fort Morgan
CO
-
80,000
350,452
-
-
80,000
350,452
430,452
103,383
8/29/2011
Grand Junction
CO
-
827,255
929,878
-
-
827,255
929,878
1,757,133
1,550
12/5/2018
Greenwood Village
CO
-
1,681,038
-
-
-
1,681,038
-
1,681,038
-
6/19/2014
N/A
Lafayette
CO
-
450,000
59,281
-
-
450,000
59,281
509,281
17,488
8/29/2011
Lakewood
CO
-
510,000
124,971
-
-
510,000
124,971
634,971
36,866
8/29/2011
Littleton
CO
-
260,000
508,347
-
-
260,000
508,347
768,347
149,962
8/29/2011
Littleton
CO
-
470,000
207,744
-
-
470,000
207,744
677,744
61,284
8/29/2011
Westminster
CO
-
261,466
487,102
-
-
261,466
487,102
748,568
221,629
8/28/2007
Meriden
CT
-
369,482
687,116
-
-
369,482
687,116
1,056,598
312,636
8/28/2007
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Daytona Beach
FL
-
622,077
721,714
-
-
622,077
721,714
1,343,791
22,854
3/30/2018
Orange Park
FL
-
472,322
547,973
-
-
472,322
547,973
1,020,295
17,353
3/30/2018
Pensacola
FL
-
442,547
513,430
-
-
442,547
513,430
955,977
16,259
3/30/2018
Titusville
FL
-
548,819
636,722
-
-
548,819
636,722
1,185,541
20,163
3/30/2018
Bartow
FL
-
480,000
500,603
-
-
480,000
500,603
980,603
69,250
7/21/2015
Chipley
FL
-
270,439
502,655
-
-
270,439
502,655
773,094
349,340
8/31/2001
Clearwater
FL
-
484,090
899,658
-
-
484,090
899,658
1,383,748
409,343
8/28/2007
Defuniak Springs
FL
-
269,554
501,010
-
-
269,554
501,010
770,564
348,197
8/31/2001
Dunedin
FL
-
440,000
100,727
-
-
440,000
100,727
540,727
29,714
8/29/2011
Jacksonville
FL
-
150,210
693,445
-
-
150,210
693,445
843,655
693,445
9/13/1985
N/A
Lakeland
FL
-
530,000
556,704
-
-
530,000
556,704
1,086,704
164,228
8/29/2011
New Port Richey
FL
-
260,000
579,385
-
-
260,000
579,385
839,385
170,919
8/29/2011
Orlando
FL
-
600,000
949,489
-
-
600,000
949,489
1,549,489
745,570
12/18/1998
Oviedo
FL
-
204,200
911,338
-
-
204,200
911,338
1,115,538
685,177
8/24/1999
Oviedo
FL
-
456,108
847,515
-
-
456,108
847,515
1,303,623
444,945
11/21/2005
Oviedo
FL
-
465,993
866,048
-
-
465,993
866,048
1,332,041
394,050
8/28/2007
Palm Bay
FL
-
330,000
556,668
-
-
330,000
556,668
886,668
440,817
12/29/1998
Panama City
FL
-
202,047
375,424
-
-
202,047
375,424
577,471
183,332
10/12/2006
Pensacola
FL
-
767,303
1,424,991
-
-
767,303
1,424,991
2,192,294
353,873
10/15/2012
Port Richey
FL
-
848,210
1,575,247
-
-
848,210
1,575,247
2,423,457
391,186
10/15/2012
Saint Petersburg
FL
-
379,455
705,487
-
-
379,455
705,487
1,084,942
320,994
8/28/2007
Seffner
FL
-
200,000
209,679
-
-
200,000
209,679
409,679
61,855
8/29/2011
Tallahassee
FL
-
385,000
715,857
-
-
385,000
715,857
1,100,857
316,169
12/25/2007
Tallahassee
FL
-
175,000
325,857
-
-
175,000
325,857
500,857
143,919
12/25/2007
Tampa
FL
-
545,211
1,013,321
-
-
545,211
1,013,321
1,558,532
461,059
8/28/2007
Tampa
FL
-
470,000
208,666
-
-
470,000
208,666
678,666
61,556
8/29/2011
Tampa
FL
-
430,000
589,949
-
-
430,000
589,949
1,019,949
174,035
8/29/2011
Temple Terrace
FL
-
962,500
1,788,133
-
-
962,500
1,788,133
2,750,633
813,599
8/28/2007
Venice
FL
-
340,000
28,239
-
-
340,000
28,239
368,239
8,331
8/29/2011
Wauchula
FL
-
260,000
324,525
-
-
260,000
324,525
584,525
95,735
8/29/2011
Zephyrhills
FL
-
220,000
662,046
-
-
220,000
662,046
882,046
195,304
8/29/2011
Clearwater
FL
-
370,000
512,393
-
-
370,000
512,393
882,393
151,156
8/29/2011
Dade City
FL
-
140,000
387,991
-
-
140,000
387,991
527,991
114,457
8/29/2011
Lake Placid
FL
-
220,000
206,076
-
-
220,000
206,076
426,076
60,792
8/29/2011
Lakeland
FL
-
310,000
519,387
-
-
310,000
519,387
829,387
153,219
8/29/2011
Lakeland
FL
-
170,000
288,777
-
-
170,000
288,777
458,777
85,189
8/29/2011
Saint Petersburg
FL
-
370,000
675,403
-
-
370,000
675,403
1,045,403
199,244
8/29/2011
Albany
GA
-
783,363
320,467
-
-
783,363
320,467
1,103,830
10,148
3/30/2018
Garden City
GA
-
530,479
615,445
-
-
530,479
615,445
1,145,924
19,489
3/30/2018
Marietta
GA
-
522,538
606,232
-
-
522,538
606,232
1,128,770
19,197
3/30/2018
Norcross
GA
-
736,972
855,012
-
-
736,972
855,012
1,591,984
27,075
3/30/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Roswell
GA
-
1,000,058
1,160,236
-
-
1,000,058
1,160,236
2,160,294
36,741
3/30/2018
Savannah
GA
-
679,813
788,698
-
-
679,813
788,698
1,468,511
24,975
3/30/2018
Savannah
GA
-
916,981
575,285
-
-
916,981
575,285
1,492,266
18,217
3/30/2018
Smyrna
GA
-
589,955
684,447
-
-
589,955
684,447
1,274,402
21,674
3/30/2018
Stone Mountain
GA
-
527,827
612,368
-
-
527,827
612,368
1,140,195
19,392
3/30/2018
Augusta
GA
-
410,000
722,093
-
-
410,000
722,093
1,132,093
99,890
7/27/2015
Bowdon
GA
-
760,000
1,388,891
-
-
760,000
1,388,891
2,148,891
168,982
12/16/2015
Bremen
GA
-
600,000
1,682,353
-
-
600,000
1,682,353
2,282,353
182,255
4/26/2016
Buford
GA
-
400,000
361,957
-
-
400,000
361,957
761,957
106,777
8/29/2011
Buford
GA
-
1,085,401
1,356,752
-
-
1,085,401
1,356,752
2,442,153
323,359
1/22/2013
Cairo
GA
-
210,000
390,566
-
-
210,000
390,566
600,566
172,500
12/25/2007
Cumming
GA
-
520,000
248,510
-
-
520,000
248,510
768,510
73,310
8/29/2011
Duluth
GA
-
536,205
996,521
-
-
536,205
996,521
1,532,726
453,416
8/28/2007
Evans
GA
-
416,474
849,080
-
-
416,474
849,080
1,265,554
117,456
7/27/2015
Grovetown
GA
-
540,000
1,223,410
-
-
540,000
1,223,410
1,763,410
169,238
7/27/2015
Hartwell
GA
-
869,716
1,087,145
-
-
869,716
1,087,145
1,956,861
259,103
1/22/2013
Lawrenceville
GA
-
220,000
384,908
-
-
220,000
384,908
604,908
113,548
8/29/2011
Lilburn
GA
-
237,822
442,409
-
-
237,822
442,409
680,231
201,294
8/28/2007
Lilburn
GA
-
380,000
338,634
-
-
380,000
338,634
718,634
99,897
8/29/2011
Loganville
GA
-
340,000
422,840
-
-
340,000
422,840
762,840
124,738
8/29/2011
Martinez
GA
-
517,290
1,054,618
-
-
517,290
1,054,618
1,571,908
145,889
7/27/2015
Norcross
GA
-
310,000
286,762
-
-
310,000
286,762
596,762
84,595
8/29/2011
Oakwood
GA
-
440,000
100,481
-
-
440,000
100,481
540,481
29,642
8/29/2011
Roswell
GA
-
310,767
578,088
-
-
310,767
578,088
888,855
263,026
8/28/2007
Tallapoosa
GA
-
1,110,000
1,300,294
-
-
1,110,000
1,300,294
2,410,294
158,202
12/16/2015
Thomasville
GA
-
300,211
558,074
-
-
300,211
558,074
858,285
291,128
12/22/2005
Washington
GA
-
292,628
543,862
-
-
292,628
543,862
836,490
377,979
8/31/2001
Waycross
GA
-
223,475
415,563
-
-
223,475
415,563
639,038
216,785
12/22/2005
Winder
GA
-
230,000
429,116
-
-
230,000
429,116
659,116
126,589
8/29/2011
Altoona
IA
-
426,834
792,693
-
-
426,834
792,693
1,219,527
212,706
4/17/2012
Cedar Falls
IA
-
208,411
387,971
-
-
208,411
387,971
596,382
202,390
12/22/2005
Fort Dodge
IA
-
388,815
722,573
-
-
388,815
722,573
1,111,388
355,265
9/14/2006
Oelwein
IA
-
84,244
157,375
-
1,778
84,244
159,153
243,397
82,732
12/22/2005
Ottumwa
IA
-
393,010
729,875
-
-
393,010
729,875
1,122,885
193,417
5/25/2012
Urbandale
IA
-
395,896
735,724
-
-
395,896
735,724
1,131,620
361,731
9/14/2006
Waterloo
IA
-
397,055
1,613,053
-
-
397,055
1,613,053
2,010,108
104,223
2/28/2006
Cedar Falls
IA
-
187,250
349,057
-
-
187,250
349,057
536,307
154,163
12/21/2007
Boise
ID
-
190,894
824,305
-
-
190,894
824,305
1,015,199
543,974
5/17/1988
Boise
ID
-
161,352
735,104
-
-
161,352
735,104
896,456
454,223
10/7/1988
Antioch
IL
-
340,000
1,073,929
-
-
340,000
1,073,929
1,413,929
55,486
9/29/2017
Aurora
IL
-
240,000
1,223,861
-
-
240,000
1,223,861
1,463,861
63,233
9/29/2017
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Belleville
IL
-
930,995
1,046,488
-
-
930,995
1,046,488
1,977,483
1,744
12/5/2018
Bethalto
IL
-
180,000
166,596
-
-
180,000
166,596
346,596
49,146
8/29/2011
Buffalo Grove
IL
-
306,250
569,693
-
-
306,250
569,693
875,943
259,208
8/28/2007
Cahokia
IL
-
70,000
613,995
-
-
70,000
613,995
683,995
181,129
8/29/2011
Carlyle
IL
-
80,000
428,860
-
-
80,000
428,860
508,860
126,514
8/29/2011
Centralia
IL
-
225,966
420,573
-
-
225,966
420,573
646,539
219,398
12/22/2005
Chicago
IL
-
880,000
944,848
-
-
880,000
944,848
1,824,848
48,817
9/29/2017
Chicago
IL
-
499,767
756,012
-
-
499,767
756,012
1,255,779
31,501
12/12/2017
Chicago
IL
-
372,200
816,116
-
-
372,200
816,116
1,188,316
34,005
12/12/2017
Countryside
IL
-
301,000
559,824
-
-
301,000
559,824
860,824
254,716
8/28/2007
Countryside
IL
-
700,000
1,033,775
-
-
700,000
1,033,775
1,733,775
53,412
9/29/2017
Downers Grove
IL
-
460,000
805,310
-
-
460,000
805,310
1,265,310
41,608
9/29/2017
Edwardsville
IL
-
360,000
328,978
-
-
360,000
328,978
688,978
97,049
8/29/2011
Effingham
IL
-
812,134
972,366
-
-
812,134
972,366
1,784,500
40,515
12/15/2017
Elgin
IL
-
700,000
1,300,943
-
-
700,000
1,300,943
2,000,943
591,926
8/28/2007
Fairview Heights
IL
-
660,652
1,227,321
-
-
660,652
1,227,321
1,887,973
644,343
11/21/2005
Fairview Heights
IL
-
553,666
622,350
-
-
553,666
622,350
1,176,016
1,037
12/5/2018
Godfrey
IL
-
200,000
282,701
-
-
200,000
282,701
482,701
83,397
8/29/2011
Gurnee
IL
-
735,000
1,365,747
-
-
735,000
1,365,747
2,100,747
621,413
8/28/2007
Harrisburg
IL
-
401,819
1,303,225
-
-
401,819
1,303,225
1,705,044
288,881
6/14/2013
Highland
IL
-
130,000
454,866
-
-
130,000
454,866
584,866
134,185
8/29/2011
Jerseyville
IL
-
150,000
420,481
-
-
150,000
420,481
570,481
124,042
8/29/2011
Joliet
IL
-
280,903
522,424
-
-
280,903
522,424
803,327
237,701
8/28/2007
Lake in the Hills
IL
-
360,000
1,057,839
-
-
360,000
1,057,839
1,417,839
54,655
9/29/2017
Lincoln
IL
-
206,532
383,970
-
-
206,532
383,970
590,502
266,854
8/31/2001
Litchfield
IL
-
130,000
363,760
-
-
130,000
363,760
493,760
107,309
8/29/2011
Marion
IL
-
423,340
1,373,026
-
-
423,340
1,373,026
1,796,366
304,354
6/14/2013
Mascoutah
IL
-
80,000
435,792
-
-
80,000
435,792
515,792
128,559
8/29/2011
Mount Vernon
IL
-
385,304
1,249,662
-
-
385,304
1,249,662
1,634,966
277,008
6/14/2013
Naperville
IL
-
540,000
981,648
-
-
540,000
981,648
1,521,648
50,718
9/29/2017
Peru
IL
-
480,000
959,452
-
-
480,000
959,452
1,439,452
49,572
9/29/2017
Red Bud
IL
-
180,000
251,200
-
-
180,000
251,200
431,200
74,104
8/29/2011
Rock Island
IL
-
138,463
258,066
-
-
138,463
258,066
396,529
134,624
12/22/2005
Romeoville
IL
-
460,000
1,209,137
-
-
460,000
1,209,137
1,669,137
62,472
9/29/2017
Salem
IL
-
221,387
1,123,034
-
-
221,387
1,123,034
1,344,421
1,872
12/5/2018
Sparta
IL
-
240,000
236,571
-
-
240,000
236,571
476,571
69,788
8/29/2011
Sparta
IL
-
228,687
741,703
-
-
228,687
741,703
970,390
164,411
6/14/2013
Streamwood
IL
-
370,000
1,141,816
-
-
370,000
1,141,816
1,511,816
58,994
9/29/2017
Tinley Park
IL
-
580,000
1,131,450
-
-
580,000
1,131,450
1,711,450
58,458
9/29/2017
Troy
IL
-
230,000
281,230
-
-
230,000
281,230
511,230
82,963
8/29/2011
Waukegan
IL
-
496,908
923,576
-
-
496,908
923,576
1,420,484
420,225
8/28/2007
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Waukegan
IL
-
1,330,000
2,470,909
(2,156,083
)
-
1,330,000
314,826
1,644,826
1,030,236
12/21/2007
Westmont
IL
-
475,300
883,468
-
-
475,300
883,468
1,358,768
401,976
8/28/2007
Wood River
IL
-
180,000
369,377
-
-
180,000
369,377
549,377
108,966
8/29/2011
Woodridge
IL
-
660,000
859,196
-
-
660,000
859,196
1,519,196
44,392
9/29/2017
Angola
IN
-
510,000
1,120,000
-
-
510,000
1,120,000
1,630,000
181,067
12/31/2014
Angola
IN
-
390,000
1,170,039
-
-
390,000
1,170,039
1,560,039
185,256
1/22/2015
Auburn
IN
-
394,008
1,383,992
-
-
394,008
1,383,992
1,778,000
223,745
12/31/2014
Bluffton
IN
-
377,609
1,326,391
-
-
377,609
1,326,391
1,704,000
214,433
12/31/2014
Bluffton
IN
-
240,910
689,892
-
-
240,910
689,892
930,802
109,233
1/22/2015
Chesterton
IN
-
480,000
1,140,302
-
-
480,000
1,140,302
1,620,302
112,130
7/6/2016
Columbia City
IN
-
520,000
1,480,000
-
-
520,000
1,480,000
2,000,000
239,267
12/31/2014
Connersville
IN
-
360,000
1,286,631
-
-
360,000
1,286,631
1,646,631
117,941
9/30/2016
Crawfordsville
IN
-
300,000
1,552,000
-
-
300,000
1,552,000
1,852,000
250,907
12/31/2014
Crown Point
IN
-
230,000
1,275,660
-
-
230,000
1,275,660
1,505,660
125,440
7/6/2016
Decatur
IN
-
361,211
1,331,429
-
-
361,211
1,331,429
1,692,640
73,229
12/31/2014
Decatur
IN
-
270,000
876,597
-
-
270,000
876,597
1,146,597
138,795
1/22/2015
Elkhart
IN
-
496,306
922,168
-
-
496,306
922,168
1,418,474
484,138
11/21/2005
Elkhart
IN
-
420,000
1,261,274
-
-
420,000
1,261,274
1,681,274
77,779
6/20/2017
Evansville
IN
-
136,738
806,529
-
136,738
806,983
943,721
176,248
12/22/2005
Evansville
IN
-
490,000
1,267,188
-
-
490,000
1,267,188
1,757,188
103,487
12/8/2016
Fort Wayne
IN
-
270,000
1,211,000
-
-
270,000
1,211,000
1,481,000
195,778
12/31/2014
Fort Wayne
IN
-
390,000
973,000
-
-
390,000
973,000
1,363,000
157,302
12/31/2014
Fort Wayne
IN
-
377,668
1,326,332
-
-
377,668
1,326,332
1,704,000
214,424
12/31/2014
Fort Wayne
IN
-
476,075
1,671,925
-
-
476,075
1,671,925
2,148,000
270,295
12/31/2014
Fort Wayne
IN
-
328,243
1,152,757
-
-
328,243
1,152,757
1,481,000
186,362
12/31/2014
Fort Wayne
IN
-
860,000
1,436,000
-
-
860,000
1,436,000
2,296,000
232,153
12/31/2014
Fort Wayne
IN
-
328,243
1,152,757
-
-
328,243
1,152,757
1,481,000
186,362
12/31/2014
Fort Wayne
IN
-
330,000
1,579,222
-
-
330,000
1,579,222
1,909,222
250,043
1/22/2015
Fort Wayne
IN
-
600,000
764,942
-
-
600,000
764,942
1,364,942
90,518
1/14/2016
Fort Wayne
IN
-
730,000
778,621
-
-
730,000
778,621
1,508,621
92,137
1/14/2016
Fort Wayne
IN
-
460,000
1,127,460
-
-
460,000
1,127,460
1,587,460
92,076
12/8/2016
Fort Wayne
IN
-
290,000
786,867
-
-
290,000
786,867
1,076,867
64,261
12/8/2016
Fort Wayne
IN
-
560,000
1,073,587
-
-
560,000
1,073,587
1,633,587
87,676
12/8/2016
Frankfort
IN
-
140,000
897,000
-
-
140,000
897,000
1,037,000
145,015
12/31/2014
Hobart
IN
-
510,000
1,179,227
-
-
510,000
1,179,227
1,689,227
115,957
7/6/2016
Huntington
IN
-
377,609
1,326,391
-
-
377,609
1,326,391
1,704,000
214,433
12/31/2014
Indianapolis
IN
-
437,500
813,225
-
-
437,500
813,225
1,250,725
370,016
8/28/2007
Jasper
IN
-
129,919
242,199
-
-
129,919
242,199
372,118
126,346
12/22/2005
Kendallville
IN
-
630,000
1,889,000
-
-
630,000
1,889,000
2,519,000
305,388
12/31/2014
Kokomo
IN
-
417,330
775,555
-
-
417,330
775,555
1,192,885
396,826
3/28/2006
Lafayette
IN
-
344,866
1,211,134
-
-
344,866
1,211,134
1,556,000
195,800
12/31/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Lebanon
IN
-
350,000
1,131,000
-
-
350,000
1,131,000
1,481,000
182,845
12/31/2014
Logansport
IN
-
170,000
1,311,000
-
-
170,000
1,311,000
1,481,000
211,945
12/31/2014
Marion
IN
-
426,384
792,314
-
-
426,384
792,314
1,218,698
413,323
12/13/2005
Michigan City
IN
-
620,000
1,414,291
-
-
620,000
1,414,291
2,034,291
139,072
7/6/2016
Muncie
IN
-
644,177
1,196,786
-
-
644,177
1,196,786
1,840,963
628,313
11/21/2005
Munster
IN
-
560,000
1,040,943
-
-
560,000
1,040,943
1,600,943
473,626
8/28/2007
New Haven
IN
-
328,243
1,152,757
-
-
328,243
1,152,757
1,481,000
186,362
12/31/2014
Noblesville
IN
-
430,000
977,000
-
-
430,000
977,000
1,407,000
157,948
12/31/2014
North Manchester
IN
-
210,000
679,000
-
-
210,000
679,000
889,000
109,772
12/31/2014
Plymouth
IN
-
370,000
1,006,612
-
-
370,000
1,006,612
1,376,612
98,983
7/6/2016
Portland
IN
-
262,598
922,402
-
-
262,598
922,402
1,185,000
149,122
12/31/2014
Rensselaer
IN
-
270,000
1,123,344
-
-
270,000
1,123,344
1,393,344
110,462
7/6/2016
Saint John
IN
-
360,000
1,236,085
-
-
360,000
1,236,085
1,596,085
121,548
7/6/2016
South Bend
IN
-
133,200
617,545
-
133,200
617,679
750,879
617,679
4/28/1986
N/A
Valparaiso
IN
-
365,612
679,507
-
-
365,612
679,507
1,045,119
352,211
1/11/2006
Valparaiso
IN
-
660,000
1,218,171
-
-
660,000
1,218,171
1,878,171
119,787
7/6/2016
Valparaiso
IN
-
920,000
1,348,113
-
-
920,000
1,348,113
2,268,113
132,564
7/6/2016
Wabash
IN
-
210,000
679,505
-
-
210,000
679,505
889,505
107,588
1/22/2015
Warsaw
IN
-
328,243
1,152,757
-
-
328,243
1,152,757
1,481,000
186,362
12/31/2014
Washington
IN
-
155,856
290,368
-
-
155,856
290,368
446,224
151,474
12/22/2005
West Lafayette
IN
-
344,866
1,211,134
-
-
344,866
1,211,134
1,556,000
195,800
12/31/2014
Muncie
IN
-
136,400
632,380
8,000
-
136,400
640,380
776,780
632,380
3/18/1986
N/A
Andover
KS
-
136,607
1,023,641
-
-
136,607
1,023,641
1,160,248
1,706
12/5/2018
Chanute
KS
-
330,852
615,008
-
-
330,852
615,008
945,860
302,379
9/14/2006
Dodge City
KS
-
609,506
685,117
-
-
609,506
685,117
1,294,623
1,142
12/5/2018
Emporia
KS
-
558,733
628,045
-
-
558,733
628,045
1,186,778
1,047
12/5/2018
Fort Scott
KS
-
269,301
500,698
-
-
269,301
500,698
769,999
246,177
9/14/2006
Garden City
KS
-
631,770
710,143
-
-
631,770
710,143
1,341,913
1,184
12/5/2018
Great Bend
KS
-
367,178
1,270,436
-
-
367,178
1,270,436
1,637,614
2,117
12/5/2018
Independence
KS
-
436,949
785,304
-
-
436,949
785,304
1,222,253
1,309
12/5/2018
Kansas City
KS
-
190,000
700,039
-
-
190,000
700,039
890,039
206,512
8/29/2011
Kansas City
KS
-
170,000
214,040
-
-
170,000
214,040
384,040
63,142
8/29/2011
Kansas City
KS
-
210,000
624,304
-
-
210,000
624,304
834,304
184,170
8/29/2011
Kansas City
KS
-
140,000
767,812
-
-
140,000
767,812
907,812
226,504
8/29/2011
Lawrence
KS
-
410,000
338,788
-
-
410,000
338,788
748,788
99,942
8/29/2011
Mission
KS
-
460,000
2,441,296
-
-
460,000
2,441,296
2,901,296
142,409
7/12/2017
Newton
KS
-
484,636
1,298,824
-
-
484,636
1,298,824
1,783,460
2,165
12/5/2018
Olathe
KS
-
599,698
674,092
-
-
599,698
674,092
1,273,790
1,123
12/5/2018
Overland Park
KS
-
754,020
1,401,069
-
-
754,020
1,401,069
2,155,089
637,484
8/28/2007
Overland Park
KS
-
570,000
2,432,143
-
-
570,000
2,432,143
3,002,143
141,875
7/12/2017
Wichita
KS
-
431,167
484,654
-
-
431,167
484,654
915,821
12/5/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Wichita
KS
-
574,591
645,871
-
-
574,591
645,871
1,220,462
1,076
12/5/2018
Wichita
KS
-
630,164
708,338
-
-
630,164
708,338
1,338,502
1,181
12/5/2018
Ashland
KY
-
52,673
958,650
-
-
52,673
958,650
1,011,323
14,380
8/20/2018
Ashland
KY
-
89,954
690,847
-
-
89,954
690,847
780,801
10,363
8/20/2018
Ashland
KY
-
122,891
1,052,137
-
-
122,891
1,052,137
1,175,028
15,782
8/20/2018
Bowling Green
KY
-
685,246
1,273,002
-
-
685,246
1,273,002
1,958,248
668,326
11/21/2005
Catlettsburg
KY
-
386,081
889,826
-
-
386,081
889,826
1,275,907
13,347
8/20/2018
Cold Springs
KY
-
492,098
1,114,328
-
-
492,098
1,114,328
1,606,426
24,144
6/28/2018
Ft Wright
KY
-
372,333
934,751
-
-
372,333
934,751
1,307,084
20,253
6/28/2018
Grayson
KY
-
399,454
921,740
-
-
399,454
921,740
1,321,194
13,826
8/20/2018
Hazard
KY
-
243,836
453,025
-
243,836
453,034
696,870
222,746
9/14/2006
Independence
KY
-
360,649
879,984
-
-
360,649
879,984
1,240,633
19,066
6/28/2018
Lexington
KY
-
122,200
1,400
-
31,495
122,200
32,895
155,095
19,044
12/3/1986
Louisa
KY
-
178,014
1,056,843
-
-
178,014
1,056,843
1,234,857
15,853
8/20/2018
Madisonville
KY
-
422,501
784,831
-
-
422,501
784,831
1,207,332
385,875
9/14/2006
Madisonville
KY
-
360,000
1,172,182
-
-
360,000
1,172,182
1,532,182
119,172
6/29/2016
Maysville
KY
-
1,068,375
706,854
-
-
1,068,375
706,854
1,775,229
15,315
6/28/2018
Paducah
KY
-
673,551
1,251,276
-
-
673,551
1,251,276
1,924,827
656,920
11/21/2005
Prestonsburg
KY
-
198,346
1,001,648
-
-
198,346
1,001,648
1,199,994
15,025
8/20/2018
Amite
LA
-
1,180,740
1,048,583
-
-
1,180,740
1,048,583
2,229,323
1,748
12/21/2018
Bogalusa
LA
-
543,821
654,717
-
-
543,821
654,717
1,198,538
1,091
12/21/2018
Deridder
LA
-
371,127
690,819
-
-
371,127
690,819
1,061,946
318,915
6/22/2007
Franklinton
LA
-
975,051
723,487
-
-
975,051
723,487
1,698,538
1,206
12/21/2018
Jonesboro
LA
-
163,651
304,492
-
-
163,651
304,492
468,143
149,709
9/14/2006
Natchitoches
LA
-
291,675
541,890
-
-
291,675
541,890
833,565
376,611
8/31/2001
Ponchatoula
LA
-
496,798
766,356
-
-
496,798
766,356
1,263,154
1,277
12/21/2018
Ruston
LA
-
170,274
316,792
-
-
170,274
316,792
487,066
155,756
9/14/2006
Shreveport
LA
-
359,268
667,417
-
-
359,268
667,417
1,026,685
463,852
8/31/2001
Shreveport
LA
-
259,987
790,739
-
-
259,987
790,739
1,050,726
69,849
9/14/2006
Vivian
LA
-
135,568
252,338
-
-
135,568
252,338
387,906
124,066
9/14/2006
Winnfield
LA
-
145,973
271,661
-
-
145,973
271,661
417,634
133,567
9/14/2006
Shreveport
LA
-
200,033
372,059
-
-
200,033
372,059
572,092
182,929
9/14/2006
Fall River
MA
-
962,500
1,787,831
-
-
962,500
1,787,831
2,750,331
813,463
8/28/2007
Hagerstown
MD
-
499,396
928,250
-
-
499,396
928,250
1,427,646
422,352
8/28/2007
Auburn
ME
-
330,000
1,011,206
-
-
330,000
1,011,206
1,341,206
82,582
12/8/2016
Bath
ME
-
370,000
909,934
-
-
370,000
909,934
1,279,934
74,311
12/8/2016
Lewiston
ME
-
560,000
993,437
-
-
560,000
993,437
1,553,437
81,131
12/8/2016
Lewiston
ME
-
370,000
1,015,482
-
-
370,000
1,015,482
1,385,482
82,931
12/8/2016
South Paris
ME
-
320,000
948,019
-
-
320,000
948,019
1,268,019
77,422
12/8/2016
Alma
MI
-
430,000
958,127
-
-
430,000
958,127
1,388,127
151,703
1/22/2015
Alma
MI
-
240,000
1,140,714
-
-
240,000
1,140,714
1,380,714
180,613
1/22/2015
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Alpena
MI
-
630,000
773,434
-
-
630,000
773,434
1,403,434
122,460
1/22/2015
Bridgeport
MI
-
200,000
687,178
-
-
200,000
687,178
887,178
108,803
1/22/2015
Brownstown Twnshp
MI
-
380,000
1,072,130
-
-
380,000
1,072,130
1,452,130
109,000
6/29/2016
Cadillac
MI
-
180,000
1,372,789
-
-
180,000
1,372,789
1,552,789
217,358
1/22/2015
Canton
MI
-
279,923
521,223
-
-
279,923
521,223
801,146
237,154
8/28/2007
Cedar Springs
MI
-
725,743
1,304,336
-
-
725,743
1,304,336
2,030,079
10,869
10/12/2018
Clare
MI
-
360,000
1,544,858
-
-
360,000
1,544,858
1,904,858
244,603
1/22/2015
Commerce Township
MI
-
720,000
781,679
-
-
720,000
781,679
1,501,679
71,654
9/30/2016
Fraser
MI
-
470,000
1,061,927
-
-
470,000
1,061,927
1,531,927
111,502
5/18/2016
Gaylord
MI
-
680,000
1,344,159
-
-
680,000
1,344,159
2,024,159
212,825
1/22/2015
Grand Rapids
MI
-
600,000
969,204
-
-
600,000
969,204
1,569,204
153,457
1/22/2015
Grand Rapids
MI
-
490,000
1,090,246
-
-
490,000
1,090,246
1,580,246
172,622
1/22/2015
Grayling
MI
-
130,000
665,292
-
-
130,000
665,292
795,292
105,338
1/22/2015
Houghton Lake
MI
-
170,000
664,188
-
-
170,000
664,188
834,188
105,163
1/22/2015
Imlay City
MI
-
240,000
1,605,299
-
-
240,000
1,605,299
1,845,299
131,099
12/8/2016
Ithaca
MI
-
350,000
812,266
-
-
350,000
812,266
1,162,266
128,609
1/22/2015
Jackson
MI
-
1,420,000
1,162,384
-
-
1,420,000
1,162,384
2,582,384
129,800
3/23/2016
Kentwood
MI
-
480,000
1,025,674
-
-
480,000
1,025,674
1,505,674
141,885
7/21/2015
Lansing
MI
-
1,090,000
1,333,712
-
-
1,090,000
1,333,712
2,423,712
148,931
3/23/2016
Livonia
MI
-
350,000
651,446
-
-
350,000
651,446
1,001,446
296,406
8/28/2007
Ludington
MI
-
460,000
1,043,729
-
-
460,000
1,043,729
1,503,729
165,257
1/22/2015
Plymouth
MI
-
670,000
900,391
-
-
670,000
900,391
1,570,391
82,536
9/30/2016
Royal Oak
MI
-
380,000
911,591
-
-
380,000
911,591
1,291,591
74,447
12/8/2016
Saginaw
MI
-
200,000
897,681
-
-
200,000
897,681
1,097,681
142,133
1/22/2015
Sault St. Marie
MI
-
380,000
1,326,583
-
-
380,000
1,326,583
1,706,583
210,042
1/22/2015
Southfield
MI
-
520,000
1,482,762
-
-
520,000
1,482,762
2,002,762
150,747
6/29/2016
St John's
MI
-
670,000
1,154,736
-
-
670,000
1,154,736
1,824,736
128,946
3/23/2016
St. Clair Shores
MI
-
670,000
948,391
-
-
670,000
948,391
1,618,391
86,936
9/30/2016
Sterling Heights
MI
-
910,000
832,868
-
-
910,000
832,868
1,742,868
76,346
9/30/2016
Taylor
MI
-
250,000
925,883
-
-
250,000
925,883
1,175,883
94,131
6/29/2016
Traverse City
MI
-
280,000
1,092,232
-
-
280,000
1,092,232
1,372,232
172,937
1/22/2015
Walker
MI
-
590,000
1,132,002
-
-
590,000
1,132,002
1,722,002
179,234
1/22/2015
West Branch
MI
-
680,038
1,947,424
-
-
680,038
1,947,424
2,627,462
308,342
1/22/2015
Affton
MO
-
120,000
171,955
-
-
120,000
171,955
291,955
50,727
8/29/2011
Belton
MO
-
597,290
671,385
-
-
597,290
671,385
1,268,675
1,119
12/5/2018
Blue Springs
MO
-
939,412
1,055,949
-
-
939,412
1,055,949
1,995,361
1,760
12/5/2018
Bolivar
MO
-
237,094
440,596
-
-
237,094
440,596
677,690
306,211
8/31/2001
Bolivar
MO
-
317,499
846,665
-
-
317,499
846,665
1,164,164
38,100
11/15/2017
Bridgeton
MO
-
570,000
228,347
-
-
570,000
228,347
798,347
67,362
8/29/2011
Buffalo
MO
-
159,346
296,519
-
-
159,346
296,519
455,865
145,789
9/14/2006
Cape Girardeau
MO
-
450,078
836,372
-
-
450,078
836,372
1,286,450
433,520
1/11/2006
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Carthage
MO
-
75,537
968,757
-
-
75,537
968,757
1,044,294
1,615
12/5/2018
Cassville
MO
-
369,006
1,049,822
-
-
369,006
1,049,822
1,418,828
47,242
11/15/2017
Columbia
MO
-
457,110
513,816
-
-
457,110
513,816
970,926
12/5/2018
Desloge
MO
-
1,020,010
1,275,012
-
-
1,020,010
1,275,012
2,295,022
303,878
1/22/2013
Dexter
MO
-
315,830
1,024,338
-
-
315,830
1,024,338
1,340,168
227,062
6/14/2013
Excelsior Springs
MO
-
373,099
670,550
-
-
373,099
670,550
1,043,649
1,118
12/5/2018
Farmington
MO
-
340,042
1,102,863
-
-
340,042
1,102,863
1,442,905
244,468
6/14/2013
Florissant
MO
-
290,000
86,396
-
-
290,000
86,396
376,396
25,487
8/29/2011
Florissant
MO
-
250,000
239,221
-
-
250,000
239,221
489,221
70,570
8/29/2011
Grandview
MO
-
280,000
235,370
-
-
280,000
235,370
515,370
69,434
8/29/2011
Hannibal
MO
-
775,163
1,057,237
-
-
775,163
1,057,237
1,832,400
44,052
12/14/2017
Harrisonville
MO
-
615,582
878,426
-
-
615,582
878,426
1,494,008
39,529
11/15/2017
Independence
MO
-
1,090,000
2,257,513
-
-
1,090,000
2,257,513
3,347,513
131,688
7/12/2017
Independence
MO
-
815,541
916,711
-
-
815,541
916,711
1,732,252
1,528
12/5/2018
Jefferson City
MO
-
833,112
936,462
-
-
833,112
936,462
1,769,574
1,561
12/5/2018
Jennings
MO
-
1,068,827
-
-
-
1,068,827
-
1,068,827
-
9/26/2017
N/A
Jennings
MO
-
546,307
823,044
-
-
546,307
823,044
1,369,351
42,524
9/26/2017
Joplin
MO
-
301,207
749,000
-
-
301,207
749,000
1,050,207
201,471
9/14/2006
Joplin
MO
-
281,001
522,428
-
-
281,001
522,428
803,429
256,860
9/14/2006
Kansas City
MO
-
230,000
484,010
(129,300
)
-
230,000
354,710
584,710
142,783
8/29/2011
N/A
Kansas City
MO
-
200,000
339,994
-
-
200,000
339,994
539,994
100,298
8/29/2011
Kansas City
MO
-
390,000
2,177,667
-
-
390,000
2,177,667
2,567,667
127,031
7/12/2017
Lee's Summit
MO
-
500,000
450,156
-
-
500,000
450,156
950,156
132,796
8/29/2011
Marshall
MO
-
110,791
1,181,433
-
-
110,791
1,181,433
1,292,224
1,969
12/5/2018
Monett
MO
-
301,864
1,102,291
-
-
301,864
1,102,291
1,404,155
49,603
11/15/2017
Mount Vernon
MO
-
160,000
282,586
-
-
160,000
282,586
442,586
238,775
11/20/1997
Mountain Grove
MO
-
219,704
408,591
-
-
219,704
408,591
628,295
200,891
9/14/2006
N Kansas City
MO
-
679,532
763,830
-
-
679,532
763,830
1,443,362
1,273
12/5/2018
Neosho
MO
-
474,064
785,050
-
-
474,064
785,050
1,259,114
35,327
11/15/2017
Nevada
MO
-
290,795
540,616
-
-
290,795
540,616
831,411
265,803
9/14/2006
Nixa
MO
-
251,387
467,430
-
-
251,387
467,430
718,817
229,820
9/14/2006
O'Fallon
MO
-
465,224
522,936
-
-
465,224
522,936
988,160
12/5/2018
Olivette
MO
-
319,958
1,037,725
-
-
319,958
1,037,725
1,357,683
230,029
6/14/2013
Ozark
MO
-
676,792
760,750
-
-
676,792
760,750
1,437,542
1,268
12/5/2018
Poplar Bluff
MO
-
362,265
1,174,938
-
-
362,265
1,174,938
1,537,203
260,445
6/14/2013
Poplar Bluff
MO
-
383,603
1,244,145
-
-
383,603
1,244,145
1,627,748
275,785
6/14/2013
Potosi
MO
-
242,154
785,383
-
-
242,154
785,383
1,027,537
174,093
6/14/2013
Raytown
MO
-
537,136
603,769
-
-
537,136
603,769
1,140,905
1,006
12/5/2018
Republic
MO
-
546,684
982,523
-
-
546,684
982,523
1,529,207
1,638
12/5/2018
Sedalia
MO
-
739,952
903,865
-
-
739,952
903,865
1,643,817
1,506
12/5/2018
Sikeston
MO
-
327,805
1,063,176
-
-
327,805
1,063,176
1,390,981
235,671
6/14/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Springfield
MO
-
251,381
467,418
-
-
251,381
467,418
718,799
229,814
9/14/2006
Springfield
MO
-
225,939
420,162
-
-
225,939
420,162
646,101
205,179
10/12/2006
St. Louis
MO
-
340,000
88,519
-
-
340,000
88,519
428,519
26,113
8/29/2011
St. Louis
MO
-
500,000
184,049
-
-
500,000
184,049
684,049
54,295
8/29/2011
St. Louis
MO
-
263,107
853,340
-
-
263,107
853,340
1,116,447
189,157
6/14/2013
St. Louis
MO
-
730,000
692,046
-
-
730,000
692,046
1,422,046
42,676
6/15/2017
St. Louis
MO
-
390,000
702,638
-
-
390,000
702,638
1,092,638
43,329
6/15/2017
St. Louis
MO
-
551,407
619,811
-
-
551,407
619,811
1,171,218
1,033
12/5/2018
St. Peters
MO
-
597,539
671,666
-
-
597,539
671,666
1,269,205
1,119
12/5/2018
St. Robert
MO
-
329,242
611,728
-
-
329,242
611,728
940,970
425,147
8/31/2001
Sullivan
MO
-
416,493
748,538
-
-
416,493
748,538
1,165,031
1,248
12/5/2018
Warrensburg
MO
-
467,738
867,441
-
-
467,738
867,441
1,335,179
1,446
12/5/2018
Washington
MO
-
424,545
763,010
-
-
424,545
763,010
1,187,555
1,272
12/5/2018
Webb City
MO
-
610,503
821,999
-
-
610,503
821,999
1,432,502
1,370
12/5/2018
Wentzville
MO
-
616,036
692,457
-
-
616,036
692,457
1,308,493
1,154
12/5/2018
Raymore
MO
-
460,000
663,580
-
-
460,000
663,580
1,123,580
195,756
8/29/2011
Webb City
MO
-
337,647
627,628
-
-
337,647
627,628
965,275
308,584
9/14/2006
Flowood
MS
-
551,395
639,711
-
-
551,395
639,711
1,191,106
20,258
3/30/2018
Ridgeland
MS
-
684,357
793,969
-
-
684,357
793,969
1,478,326
25,142
3/30/2018
Biloxi
MS
-
414,902
770,725
-
-
414,902
770,725
1,185,627
378,940
9/14/2006
Brandon
MS
-
-
1,155,325
-
-
-
1,155,325
1,155,325
75,096
5/9/2017
Brookhaven
MS
-
2,141,007
1,365,240
-
-
2,141,007
1,365,240
3,506,247
2,275
12/21/2018
Canton
MS
-
163,193
303,268
-
-
163,193
303,268
466,461
149,107
9/14/2006
Carthage
MS
-
157,803
293,257
-
-
157,803
293,257
451,060
144,185
9/14/2006
Columbus
MS
-
470,000
1,438,148
-
-
470,000
1,438,148
1,908,148
170,181
1/5/2016
Corinth
MS
-
285,607
530,598
-
-
285,607
530,598
816,205
260,877
9/14/2006
Flowood
MS
-
470,000
1,456,444
-
-
470,000
1,456,444
1,926,444
177,201
12/22/2015
Flowood
MS
-
330,000
845,175
-
-
330,000
845,175
1,175,175
54,936
5/9/2017
Forest
MS
-
106,457
198,007
-
-
106,457
198,007
304,464
103,293
12/22/2005
Fulton
MS
-
239,686
445,337
-
-
239,686
445,337
685,023
309,507
8/31/2001
Greenville
MS
-
311,324
578,378
-
-
311,324
578,378
889,702
401,970
8/31/2001
Greenwood
MS
-
177,329
329,520
-
-
177,329
329,520
506,849
162,014
9/14/2006
Grenada
MS
-
450,000
922,929
-
-
450,000
922,929
1,372,929
112,290
12/22/2015
Hattiesburg
MS
-
210,000
408,549
-
-
210,000
408,549
618,549
26,556
5/9/2017
Hattiesburg
MS
-
330,000
695,614
-
-
330,000
695,614
1,025,614
45,215
5/9/2017
Hazlehurst
MS
-
474,669
723,869
-
-
474,669
723,869
1,198,538
1,206
12/21/2018
Houston
MS
-
226,962
421,695
-
-
226,962
421,695
648,657
207,333
9/14/2006
Indianola
MS
-
270,639
502,822
-
-
270,639
502,822
773,461
349,458
8/31/2001
Jackson
MS
-
237,982
442,154
-
-
237,982
442,154
680,136
217,393
9/14/2006
Jackson
MS
-
352,003
653,900
-
-
352,003
653,900
1,005,903
319,321
10/12/2006
Jackson
MS
-
500,000
548,535
-
-
500,000
548,535
1,048,535
66,738
12/22/2015
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Jackson
MS
-
440,000
1,139,753
-
-
440,000
1,139,753
1,579,753
138,670
12/22/2015
Jackson
MS
-
480,000
618,357
-
-
480,000
618,357
1,098,357
75,233
12/22/2015
Jackson
MS
-
500,000
754,718
-
-
500,000
754,718
1,254,718
49,057
5/9/2017
Kosciusko
MS
-
311,422
578,550
-
-
311,422
578,550
889,972
284,454
9/14/2006
Magee
MS
-
264,395
491,206
-
-
264,395
491,206
755,601
241,510
9/14/2006
McComb
MS
-
1,926,733
1,194,898
-
-
1,926,733
1,194,898
3,121,631
1,992
12/21/2018
Moss Point
MS
-
287,821
534,713
-
-
287,821
534,713
822,534
262,901
9/14/2006
Natchez
MS
-
402,589
747,934
-
-
402,589
747,934
1,150,523
360,255
12/21/2006
Newton
MS
-
284,350
528,311
-
-
284,350
528,311
812,661
367,173
8/31/2001
Olive Branch
MS
-
332,234
617,192
-
-
332,234
617,192
949,426
303,453
9/14/2006
Olive Branch
MS
-
362,276
673,055
-
-
362,276
673,055
1,035,331
299,510
11/16/2007
Oxford
MS
-
297,182
552,097
-
297,182
552,123
849,305
269,623
10/12/2006
Pearl
MS
-
265,646
722,221
-
-
265,646
722,221
987,867
87,870
12/22/2015
Pearl
MS
-
180,000
833,668
-
-
180,000
833,668
1,013,668
54,188
5/9/2017
Philadelphia
MS
-
292,868
543,912
-
-
292,868
543,912
836,780
267,424
9/14/2006
Richland
MS
-
364,900
897,118
-
-
364,900
897,118
1,262,018
109,149
12/22/2015
Richland
MS
-
280,000
732,641
-
-
280,000
732,641
1,012,641
47,622
5/9/2017
Richland
MS
-
1,011,962
1,156,684
-
-
1,011,962
1,156,684
2,168,646
1,928
12/21/2018
Ridgeland
MS
-
460,000
1,021,885
-
-
460,000
1,021,885
1,481,885
114,110
3/11/2016
Ridgeland
MS
-
140,000
799,493
-
-
140,000
799,493
939,493
51,967
5/9/2017
Southaven
MS
-
498,426
925,905
-
-
498,426
925,905
1,424,331
412,028
11/16/2007
Southaven
MS
-
300,000
889,884
-
-
300,000
889,884
1,189,884
108,269
12/22/2015
Southaven
MS
-
468,858
1,152,703
-
-
468,858
1,152,703
1,621,561
140,245
12/22/2015
Starkville
MS
-
175,436
326,005
-
-
175,436
326,005
501,441
160,286
9/14/2006
Starkville
MS
-
490,000
771,939
-
-
490,000
771,939
1,261,939
50,176
5/9/2017
Tupelo
MS
-
166,869
310,095
-
-
166,869
310,095
476,964
152,463
9/14/2006
Tupelo
MS
-
225,934
419,857
-
-
225,934
419,857
645,791
206,430
9/28/2006
Tupelo
MS
-
340,000
921,939
-
-
340,000
921,939
1,261,939
59,926
5/9/2017
Vicksburg
MS
-
275,895
512,632
-
-
275,895
512,632
788,527
252,044
9/28/2006
Vicksburg
MS
-
410,000
608,682
-
-
410,000
608,682
1,018,682
74,056
12/22/2015
Vicksburg
MS
-
230,000
1,046,278
-
-
230,000
1,046,278
1,276,278
68,008
5/9/2017
Wiggins
MS
-
268,104
498,095
-
-
268,104
498,095
766,199
244,897
9/14/2006
Columbus
MS
-
117,411
218,350
-
-
117,411
218,350
335,761
113,905
12/22/2005
Gautier
MS
-
241,995
449,607
-
-
241,995
449,607
691,602
221,057
9/14/2006
Iuka
MS
-
139,243
258,779
24,572
-
139,243
283,351
422,594
128,029
9/14/2006
Butte
MT
-
1,070,000
786,953
-
-
1,070,000
786,953
1,856,953
74,761
8/4/2016
Great Falls
MT
-
940,000
810,900
-
-
940,000
810,900
1,750,900
77,035
8/4/2016
Helena
MT
-
760,000
816,231
-
-
760,000
816,231
1,576,231
77,542
8/4/2016
Kalispell
MT
-
650,000
1,009,793
-
-
650,000
1,009,793
1,659,793
102,662
6/30/2016
Kalispell
MT
-
810,000
835,779
-
-
810,000
835,779
1,645,779
84,971
6/30/2016
Missoula
MT
-
-
837,402
31,350
-
-
868,752
868,752
85,332
6/30/2016
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Missoula
MT
-
860,000
822,122
-
-
860,000
822,122
1,682,122
83,582
6/30/2016
Asheville
NC
-
264,226
491,419
-
-
264,226
491,419
755,645
223,594
8/28/2007
Charlotte
NC
-
468,859
955,879
-
-
468,859
955,879
1,424,738
132,230
7/27/2015
Charlotte
NC
-
210,000
662,231
-
-
210,000
662,231
872,231
91,609
7/27/2015
Charlotte
NC
-
460,000
988,464
-
-
460,000
988,464
1,448,464
136,738
7/27/2015
Charlotte
NC
-
458,612
934,988
-
-
458,612
934,988
1,393,600
129,340
7/27/2015
Clinton
NC
-
380,000
962,394
-
-
380,000
962,394
1,342,394
145,963
3/25/2015
Concord
NC
-
830,000
985,176
-
-
830,000
985,176
1,815,176
83,740
11/22/2016
Connelly Springs
NC
-
390,000
1,002,204
-
-
390,000
1,002,204
1,392,204
85,187
11/22/2016
Dallas
NC
-
500,000
1,003,642
-
-
500,000
1,003,642
1,503,642
85,310
11/22/2016
Erwin
NC
-
500,270
1,056,821
-
-
500,270
1,056,821
1,557,091
44,034
12/12/2017
Gastonia
NC
-
810,000
766,062
-
-
810,000
766,062
1,576,062
65,115
11/22/2016
Granite Falls
NC
-
1,412,026
1,765,032
-
-
1,412,026
1,765,032
3,177,058
420,666
1/22/2013
High Point
NC
-
872,587
1,090,734
-
-
872,587
1,090,734
1,963,321
259,958
1/22/2013
Hildebran
NC
-
966,417
1,208,021
-
-
966,417
1,208,021
2,174,438
287,912
1/22/2013
Kernersville
NC
-
836,896
-
-
14,175
836,896
14,175
851,071
11/1/2006
Kinston
NC
-
320,000
836,583
-
-
320,000
836,583
1,156,583
126,882
3/25/2015
Lincolnton
NC
-
1,811,063
2,263,829
-
-
1,811,063
2,263,829
4,074,892
539,546
1/22/2013
N Wilkesboro
NC
-
400,000
955,379
-
-
400,000
955,379
1,355,379
78,023
12/8/2016
Newton
NC
-
960,000
1,010,399
-
-
960,000
1,010,399
1,970,399
85,884
11/22/2016
Raeford
NC
-
773,505
966,881
-
-
773,505
966,881
1,740,386
230,440
1/22/2013
Salisbury
NC
-
570,000
1,205,415
-
-
570,000
1,205,415
1,775,415
102,460
11/22/2016
Southport
NC
-
460,000
1,214,095
-
-
460,000
1,214,095
1,674,095
184,138
3/11/2015
Stanley
NC
-
360,000
858,000
-
-
360,000
858,000
1,218,000
70,070
12/8/2016
Thomasville
NC
-
983,522
1,229,402
-
-
983,522
1,229,402
2,212,924
293,008
1/22/2013
Walkertown
NC
-
1,033,636
1,292,046
-
-
1,033,636
1,292,046
2,325,682
307,938
1/22/2013
Wallace
NC
-
230,000
905,484
-
-
230,000
905,484
1,135,484
137,332
3/25/2015
Winston Salem
NC
-
353,239
656,427
-
-
353,239
656,427
1,009,666
456,211
8/31/2001
Winston Salem
NC
-
126,423
235,323
-
-
126,423
235,323
361,746
122,760
12/22/2005
Devils Lake
ND
-
150,390
279,798
-
-
150,390
279,798
430,188
145,961
12/22/2005
Fargo
ND
-
217,057
403,609
-
-
217,057
403,609
620,666
210,549
12/22/2005
Minot
ND
-
153,870
286,260
-
-
153,870
286,260
440,130
149,332
12/22/2005
Omaha
NE
-
444,460
825,938
-
444,460
825,971
1,270,431
428,144
1/11/2006
Omaha
NE
-
480,765
562,713
-
-
480,765
562,713
1,043,478
19,695
2/15/2018
Gallup
NM
-
465,956
540,587
-
-
465,956
540,587
1,006,543
11,713
6/27/2018
Amherst
NY
-
412,349
767,082
-
-
412,349
767,082
1,179,431
349,020
8/28/2007
Buffalo
NY
-
317,454
591,060
-
-
317,454
591,060
908,514
268,928
8/28/2007
Buffalo
NY
-
345,224
1,001,151
-
-
345,224
1,001,151
1,346,375
38,377
1/26/2018
Falconer
NY
-
350,000
751,481
-
-
350,000
751,481
1,101,481
61,371
12/8/2016
Syracuse
NY
-
190,000
1,407,444
-
-
190,000
1,407,444
1,597,444
114,941
12/16/2016
Riverside
OH
-
658,981
671,139
-
-
658,981
671,139
1,330,120
14,541
6/28/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Amelia
OH
-
926,846
1,357,475
-
-
926,846
1,357,475
2,284,321
29,412
6/28/2018
Athens
OH
-
869,196
1,167,513
-
-
869,196
1,167,513
2,036,709
17,513
8/20/2018
Bowling Green
OH
-
490,000
1,233,026
-
-
490,000
1,233,026
1,723,026
113,027
9/30/2016
Cincinnati
OH
-
299,187
556,978
-
-
299,187
556,978
856,165
253,402
8/28/2007
Cincinnati
OH
-
804,235
589,773
-
-
804,235
589,773
1,394,008
12,778
6/28/2018
Cincinnati
OH
-
998,636
1,017,059
-
-
998,636
1,017,059
2,015,695
22,036
6/28/2018
Cincinnati
OH
-
901,993
918,634
-
-
901,993
918,634
1,820,627
19,904
6/28/2018
Cincinnati
OH
-
827,706
842,977
-
-
827,706
842,977
1,670,683
18,264
6/28/2018
Cincinnati
OH
-
658,981
671,139
-
-
658,981
671,139
1,330,120
14,541
6/28/2018
Cincinnati
OH
-
936,900
677,526
-
-
936,900
677,526
1,614,426
14,680
6/28/2018
Cincinnati
OH
-
677,867
992,816
-
-
677,867
992,816
1,670,683
21,511
6/28/2018
Cincinnati
OH
-
721,026
1,119,488
-
-
721,026
1,119,488
1,840,514
24,256
6/28/2018
Cincinnati
OH
-
887,564
903,938
-
-
887,564
903,938
1,791,502
19,585
6/28/2018
Cincinnati
OH
-
1,084,741
1,104,753
-
-
1,084,741
1,104,753
2,189,494
23,936
6/28/2018
Cincinnati (Green Township)
OH
-
1,276,278
779,947
-
-
1,276,278
779,947
2,056,225
16,899
6/28/2018
Cincinnati (University)
OH
-
781,929
724,262
-
-
781,929
724,262
1,506,191
15,692
6/28/2018
Dayton
OH
-
788,804
803,357
-
-
788,804
803,357
1,592,161
17,406
6/28/2018
Dayton
OH
-
749,036
1,097,052
-
-
749,036
1,097,052
1,846,088
23,769
6/28/2018
Defiance
OH
-
71,273
-
-
-
71,273
-
71,273
-
8/30/2007
N/A
Delaware
OH
-
580,000
845,272
-
-
580,000
845,272
1,425,272
71,848
11/30/2016
Fairborn
OH
-
620,780
632,232
-
-
620,780
632,232
1,253,012
13,698
6/28/2018
Fairfield
OH
-
647,426
959,000
-
-
647,426
959,000
1,606,426
20,778
6/28/2018
Fairfield
OH
-
1,191,801
1,213,789
-
-
1,191,801
1,213,789
2,405,590
26,299
6/28/2018
Galion
OH
-
260,000
867,572
-
-
260,000
867,572
1,127,572
73,744
11/30/2016
Hamilton
OH
-
582,578
593,326
-
-
582,578
593,326
1,175,904
12,855
6/28/2018
Huber Heights
OH
-
574,840
831,891
-
-
574,840
831,891
1,406,731
18,024
6/28/2018
Jackson
OH
-
652,181
1,067,403
-
-
652,181
1,067,403
1,719,584
16,011
8/20/2018
Kenton
OH
-
390,000
775,990
-
-
390,000
775,990
1,165,990
65,959
11/30/2016
Kettering
OH
-
764,037
778,132
-
-
764,037
778,132
1,542,169
16,860
6/28/2018
Lebanon
OH
-
1,018,715
1,037,510
-
-
1,018,715
1,037,510
2,056,225
22,479
6/28/2018
Linden
OH
-
779,444
793,825
-
-
779,444
793,825
1,573,269
17,200
6/28/2018
Marietta
OH
-
620,327
1,134,164
-
-
620,327
1,134,164
1,754,491
17,012
8/20/2018
Marion
OH
-
550,000
833,387
-
-
550,000
833,387
1,383,387
70,838
11/30/2016
Marion
OH
-
580,000
984,776
-
-
580,000
984,776
1,564,776
80,423
12/28/2016
Mentor
OH
-
394,450
734,205
-
-
394,450
734,205
1,128,655
334,049
8/28/2007
Middletown
OH
-
875,054
924,143
-
-
875,054
924,143
1,799,197
13,862
8/1/2018
Milford
OH
-
702,342
1,028,663
-
-
702,342
1,028,663
1,731,005
22,288
6/28/2018
Milford
OH
-
402,458
1,605,480
-
-
402,458
1,605,480
2,007,938
34,785
6/28/2018
Mount Orab
OH
-
513,577
1,173,578
-
-
513,577
1,173,578
1,687,155
25,428
6/28/2018
New Boston
OH
-
204,057
1,185,678
-
-
204,057
1,185,678
1,389,735
17,785
8/20/2018
Parma
OH
-
473,710
881,038
-
-
473,710
881,038
1,354,748
400,871
8/28/2007
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Portsmouth
OH
-
790,290
1,014,205
-
-
790,290
1,014,205
1,804,495
15,213
8/20/2018
Sharonville
OH
-
770,730
784,949
-
-
770,730
784,949
1,555,679
17,007
6/28/2018
South Bloomfield
OH
-
166,127
1,164,734
-
-
166,127
1,164,734
1,330,861
17,471
8/20/2018
South Point
OH
-
612,332
787,284
-
-
612,332
787,284
1,399,616
11,809
8/20/2018
Toledo
OH
-
633,461
1,177,718
-
-
633,461
1,177,718
1,811,179
535,860
8/28/2007
Upper Sandusky
OH
-
260,000
731,454
-
-
260,000
731,454
991,454
62,174
11/30/2016
Van Wert
OH
-
330,000
907,061
-
-
330,000
907,061
1,237,061
143,618
1/22/2015
Van Wert
OH
-
710,000
798,621
-
-
710,000
798,621
1,508,621
94,503
1/14/2016
Waverly
OH
-
943,735
1,002,592
-
-
943,735
1,002,592
1,946,327
15,039
8/20/2018
West Union
OH
-
691,304
1,493,435
-
-
691,304
1,493,435
2,184,739
32,358
6/28/2018
Wheelersburg
OH
-
350,413
882,602
-
-
350,413
882,602
1,233,015
13,239
8/20/2018
Xenia
OH
-
492,182
792,959
-
-
492,182
792,959
1,285,141
17,181
6/28/2018
Youngstown
OH
-
639,975
742,479
-
-
639,975
742,479
1,382,454
21,037
4/25/2018
Bartlesville
OK
-
811,005
911,613
-
-
811,005
911,613
1,722,618
1,519
12/5/2018
Bixby
OK
-
145,791
271,272
-
-
145,791
271,272
417,063
141,513
12/22/2005
Broken Arrow
OK
-
329,732
637,483
-
-
329,732
637,483
967,215
1,062
12/5/2018
Broken Bow
OK
-
611,692
1,099,359
-
-
611,692
1,099,359
1,711,051
1,832
12/5/2018
Checotah
OK
-
153,232
285,092
-
-
153,232
285,092
438,324
148,723
12/22/2005
Chickasha
OK
-
763,452
1,322,953
-
-
763,452
1,322,953
2,086,405
2,205
12/5/2018
Claremore
OK
-
475,402
839,825
-
-
475,402
839,825
1,315,227
37,792
11/15/2017
Del City
OK
-
578,278
650,015
-
-
578,278
650,015
1,228,293
1,083
12/5/2018
Duncan
OK
-
871,257
979,339
-
-
871,257
979,339
1,850,596
1,632
12/5/2018
Durant
OK
-
548,250
985,337
-
-
548,250
985,337
1,533,587
1,642
12/5/2018
Edmond
OK
-
448,002
769,567
-
-
448,002
769,567
1,217,569
1,283
12/5/2018
El Reno
OK
-
531,244
954,773
-
-
531,244
954,773
1,486,017
1,591
12/5/2018
Idabel
OK
-
214,244
398,545
-
-
214,244
398,545
612,789
276,980
8/31/2001
Jenks
OK
-
506,842
569,717
-
-
506,842
569,717
1,076,559
12/5/2018
Lawton
OK
-
800,012
899,255
-
-
800,012
899,255
1,699,267
1,499
12/5/2018
McAlester
OK
-
762,499
1,370,395
-
-
762,499
1,370,395
2,132,894
2,284
12/5/2018
Muskogee
OK
-
799,488
851,034
-
-
799,488
851,034
1,650,522
1,418
12/5/2018
Norman
OK
-
773,375
869,314
-
-
773,375
869,314
1,642,689
1,449
12/5/2018
Oklahoma City
OK
-
635,358
522,527
-
-
635,358
522,527
1,157,885
12/5/2018
Oklahoma City
OK
-
670,780
753,993
-
-
670,780
753,993
1,424,773
1,257
12/5/2018
Oklahoma City
OK
-
561,527
631,186
-
-
561,527
631,186
1,192,713
1,052
12/5/2018
Okmulgee
OK
-
473,941
851,787
-
-
473,941
851,787
1,325,728
1,420
12/5/2018
Owasso
OK
-
327,043
607,645
-
-
327,043
607,645
934,688
422,310
8/31/2001
Owasso
OK
-
711,045
799,252
-
-
711,045
799,252
1,510,297
1,332
12/5/2018
Owasso
OK
-
882,507
991,985
-
-
882,507
991,985
1,874,492
1,653
12/5/2018
Pauls Valley
OK
-
231,824
1,051,901
-
-
231,824
1,051,901
1,283,725
1,753
12/5/2018
Ponca City
OK
-
735,106
826,298
-
-
735,106
826,298
1,561,404
1,377
12/5/2018
Pryor
OK
-
548,770
986,272
-
-
548,770
986,272
1,535,042
1,644
12/5/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Sand Springs
OK
-
453,626
801,356
-
-
453,626
801,356
1,254,982
36,061
11/15/2017
Shawnee
OK
-
676,101
759,974
-
-
676,101
759,974
1,436,075
1,267
12/5/2018
Stillwater
OK
-
523,236
1,611,130
-
-
523,236
1,611,130
2,134,366
2,685
12/5/2018
Tahlequah
OK
-
224,982
418,341
-
-
224,982
418,341
643,323
218,234
12/22/2005
Tahlequah
OK
-
432,259
841,324
-
-
432,259
841,324
1,273,583
37,860
11/15/2017
Tulsa
OK
-
295,993
549,981
-
-
295,993
549,981
845,974
382,233
8/31/2001
Tulsa
OK
-
570,806
641,616
-
-
570,806
641,616
1,212,422
1,069
12/5/2018
Tulsa
OK
-
648,871
729,365
-
-
648,871
729,365
1,378,236
1,216
12/5/2018
Tulsa
OK
-
377,730
722,614
-
-
377,730
722,614
1,100,344
1,204
12/5/2018
Tulsa
OK
-
610,218
685,917
-
-
610,218
685,917
1,296,135
1,143
12/5/2018
Yukon
OK
-
528,061
593,569
-
-
528,061
593,569
1,121,630
12/5/2018
Salem
OR
-
198,540
689,507
-
-
198,540
689,507
888,047
527,108
5/23/1989
The Dalles
OR
-
1,034,805
1,293,506
-
-
1,034,805
1,293,506
2,328,311
308,286
1/22/2013
Allentown
PA
-
480,745
996,452
-
-
480,745
996,452
1,477,197
41,519
12/27/2017
Bethlehem
PA
-
740,000
1,362,228
-
-
740,000
1,362,228
2,102,228
93,086
4/19/2017
Camp Hill
PA
-
1,090,000
923,201
-
-
1,090,000
923,201
2,013,201
63,085
4/19/2017
Carlisle
PA
-
980,000
1,307,912
-
-
980,000
1,307,912
2,287,912
89,374
4/19/2017
Columbia
PA
-
750,000
1,273,626
-
-
750,000
1,273,626
2,023,626
87,031
4/19/2017
Dillsburg
PA
-
960,000
1,103,393
-
-
960,000
1,103,393
2,063,393
75,399
4/19/2017
Elizabethtown
PA
-
930,000
867,819
-
-
930,000
867,819
1,797,819
59,301
4/19/2017
Ephrata
PA
-
770,000
844,372
-
-
770,000
844,372
1,614,372
57,699
4/19/2017
Greensburg
PA
-
315,000
586,368
-
-
315,000
586,368
901,368
266,794
8/28/2007
Hamburg
PA
-
810,000
1,323,432
-
-
810,000
1,323,432
2,133,432
90,435
4/19/2017
Harrisburg
PA
-
430,000
1,386,921
-
-
430,000
1,386,921
1,816,921
94,773
4/19/2017
Harrisburg
PA
-
1,020,000
982,970
-
-
1,020,000
982,970
2,002,970
67,170
4/19/2017
Jonestown
PA
-
1,050,000
1,030,109
-
-
1,050,000
1,030,109
2,080,109
70,391
4/19/2017
Lebanon
PA
-
450,000
1,150,660
-
-
450,000
1,150,660
1,600,660
78,628
4/19/2017
Lebanon
PA
-
590,000
1,481,159
-
-
590,000
1,481,159
2,071,159
101,213
4/19/2017
Middletown
PA
-
630,000
1,441,144
-
-
630,000
1,441,144
2,071,144
98,478
4/19/2017
Philadelphia
PA
-
423,333
787,125
-
-
423,333
787,125
1,210,458
358,140
8/28/2007
Red Lion
PA
-
1,050,000
1,005,451
-
-
1,050,000
1,005,451
2,055,451
68,706
4/19/2017
Sinking Spring
PA
-
380,000
973,135
-
-
380,000
973,135
1,353,135
66,498
4/19/2017
York
PA
-
780,000
1,216,767
-
-
780,000
1,216,767
1,996,767
83,146
4/19/2017
Aiken
SC
-
240,937
447,656
-
-
240,937
447,656
688,593
220,097
9/14/2006
Aiken
SC
-
618,572
1,261,105
-
-
618,572
1,261,105
1,879,677
174,453
7/27/2015
Camden
SC
-
450,000
986,046
-
-
450,000
986,046
1,436,046
136,403
7/27/2015
Columbia
SC
-
952,423
1,190,529
-
-
952,423
1,190,529
2,142,952
283,743
1/22/2013
Columbia
SC
-
812,611
1,015,764
-
-
812,611
1,015,764
1,828,375
242,090
1/22/2013
Columbia
SC
-
710,000
1,137,369
-
-
710,000
1,137,369
1,847,369
157,336
7/27/2015
Columbia
SC
-
344,602
702,552
-
-
344,602
702,552
1,047,154
97,186
7/27/2015
Columbia
SC
-
350,000
982,465
-
-
350,000
982,465
1,332,465
135,908
7/27/2015
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Greer
SC
-
580,000
721,854
-
-
580,000
721,854
1,301,854
109,481
3/25/2015
Inman
SC
-
809,987
1,012,483
-
-
809,987
1,012,483
1,822,470
241,309
1/22/2013
Irmo
SC
-
330,000
1,008,769
-
-
330,000
1,008,769
1,338,769
139,546
7/27/2015
Leesville
SC
-
899,686
1,124,607
-
-
899,686
1,124,607
2,024,293
268,031
1/22/2013
Lexington
SC
-
530,000
1,278,314
-
-
530,000
1,278,314
1,808,314
176,833
7/27/2015
Lexington
SC
-
720,000
978,176
-
-
720,000
978,176
1,698,176
79,884
12/6/2016
Newberry
SC
-
708,489
885,611
-
-
708,489
885,611
1,594,100
211,071
1/22/2013
Piedmont
SC
-
841,862
1,052,327
-
-
841,862
1,052,327
1,894,189
250,805
1/22/2013
Rock Hill
SC
-
400,000
950,185
-
-
400,000
950,185
1,350,185
131,442
7/27/2015
Spartanburg
SC
-
957,339
1,196,673
-
-
957,339
1,196,673
2,154,012
285,207
1/22/2013
Walterboro
SC
-
240,000
779,500
-
-
240,000
779,500
1,019,500
126,019
12/8/2014
Chamberlain
SD
-
139,587
259,627
-
-
139,587
259,627
399,214
135,438
12/22/2005
Madison
SD
-
112,143
208,660
-
-
112,143
208,660
320,803
108,850
12/22/2005
Rapid City
SD
-
197,967
368,047
-
-
197,967
368,047
566,014
191,997
12/22/2005
Sioux Falls
SD
-
340,718
633,332
-
-
340,718
633,332
974,050
302,944
1/19/2007
Spearfish
SD
-
142,114
264,320
-
-
142,114
264,320
406,434
137,887
12/22/2005
Winner
SD
-
115,591
215,063
-
-
115,591
215,063
330,654
112,191
12/22/2005
Athens
TN
-
597,875
681,300
-
-
597,875
681,300
1,279,175
21,575
3/30/2018
Clarksville
TN
-
1,079,861
433,013
-
-
1,079,861
433,013
1,512,874
13,712
3/30/2018
Jackson
TN
-
661,370
767,300
-
-
661,370
767,300
1,428,670
24,298
3/30/2018
Knoxville
TN
-
593,918
689,045
-
-
593,918
689,045
1,282,963
21,820
3/30/2018
Knoxville
TN
-
837,007
287,587
-
-
837,007
287,587
1,124,594
9,107
3/30/2018
Knoxville
TN
-
988,916
249,831
-
-
988,916
249,831
1,238,747
7,911
3/30/2018
Knoxville
TN
-
586,331
680,243
-
-
586,331
680,243
1,266,574
21,541
3/30/2018
Maryville
TN
-
1,027,547
484,133
-
-
1,027,547
484,133
1,511,680
15,331
3/30/2018
Memphis
TN
-
581,930
675,137
-
-
581,930
675,137
1,257,067
21,379
3/30/2018
Memphis
TN
-
956,458
201,051
-
-
956,458
201,051
1,157,509
6,367
3/30/2018
Nashville
TN
-
535,278
621,013
-
-
535,278
621,013
1,156,291
19,665
3/30/2018
Oak Ridge
TN
-
920,912
253,786
-
-
920,912
253,786
1,174,698
8,037
3/30/2018
South Pittsburg
TN
-
830,492
602,960
-
-
830,492
602,960
1,433,452
19,094
3/30/2018
Antioch
TN
-
244,470
454,016
-
-
244,470
454,016
698,486
221,711
10/2/2006
Brownsville
TN
-
289,379
538,081
-
-
289,379
538,081
827,460
373,958
8/31/2001
Chattanooga
TN
-
490,000
740,474
15,154
-
490,000
755,628
1,245,628
136,322
6/30/2014
Collierville
TN
-
433,503
805,339
-
-
433,503
805,339
1,238,842
358,376
11/16/2007
Germantown
TN
-
356,774
662,837
-
-
356,774
662,837
1,019,611
294,962
11/16/2007
Goodlettsville
TN
-
651,028
755,302
-
-
651,028
755,302
1,406,330
23,918
3/30/2018
Henderson
TN
-
155,954
289,815
-
-
155,954
289,815
445,769
142,492
9/14/2006
Jackson
TN
-
312,734
581,049
224,858
11,559
312,734
817,466
1,130,200
298,965
11/16/2007
Kingsport
TN
-
833,777
967,322
-
-
833,777
967,322
1,801,099
30,632
3/29/2018
Manchester
TN
-
411,504
764,222
-
22,500
411,504
786,722
1,198,226
377,238
10/2/2006
Martin
TN
-
173,616
322,616
-
-
173,616
322,616
496,232
158,619
9/14/2006
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
McMinnville
TN
-
442,735
635,260
-
-
442,735
635,260
1,077,995
305,965
12/21/2006
Memphis
TN
-
148,386
275,760
-
-
148,386
275,760
424,146
135,582
9/14/2006
Memphis
TN
-
254,423
472,680
-
-
254,423
472,680
727,103
230,826
10/12/2006
Memphis
TN
-
309,358
574,779
-
-
309,358
574,779
884,137
255,777
11/16/2007
Memphis
TN
-
361,660
983,255
-
-
361,660
983,255
1,344,915
119,629
12/22/2015
Memphis
TN
-
550,000
821,983
-
-
550,000
821,983
1,371,983
100,008
12/22/2015
Memphis
TN
-
445,782
1,095,968
-
-
445,782
1,095,968
1,541,750
133,343
12/22/2015
Memphis
TN
-
660,000
1,253,473
-
-
660,000
1,253,473
1,913,473
152,506
12/22/2015
Milan
TN
-
138,159
256,766
-
-
138,159
256,766
394,925
126,243
9/14/2006
Millington
TN
-
285,613
530,630
-
-
285,613
530,630
816,243
368,785
8/31/2001
Murfreesboro
TN
-
376,568
699,340
-
-
376,568
699,340
1,075,908
341,511
10/2/2006
Murfreesboro
TN
-
383,266
712,027
-
-
383,266
712,027
1,095,293
342,959
12/21/2006
Nashville
TN
-
147,915
274,700
-
-
147,915
274,700
422,615
134,145
10/2/2006
Nashville
TN
-
432,494
803,203
-
-
432,494
803,203
1,235,697
392,231
10/2/2006
Nashville
TN
-
350,983
651,825
-
44,175
350,983
696,000
1,046,983
326,683
10/2/2006
Nashville
TN
-
500,000
653,785
18,835
-
500,000
672,620
1,172,620
122,894
6/30/2014
Ripley
TN
-
231,552
430,232
-
-
231,552
430,232
661,784
299,008
8/31/2001
Sevierville
TN
-
423,790
787,301
-
-
423,790
787,301
1,211,091
387,090
9/28/2006
Trenton
TN
-
174,379
324,032
-
-
174,379
324,032
498,411
159,316
9/14/2006
Columbia
TN
-
410,242
761,878
-
-
410,242
761,878
1,172,120
372,051
10/2/2006
Hermitage
TN
-
341,251
633,753
-
341,251
633,778
975,029
309,491
10/2/2006
Shelbyville
TN
-
245,370
455,687
-
-
245,370
455,687
701,057
222,527
10/2/2006
Allen
TX
-
165,000
306,771
-
-
165,000
306,771
471,771
238,770
5/28/1999
Arlington
TX
-
560,000
1,040,667
-
-
560,000
1,040,667
1,600,667
473,502
8/28/2007
Arlington
TX
-
269,284
500,766
-
-
269,284
500,766
770,050
227,847
8/28/2007
Aubrey
TX
-
140,000
726,739
122,905
-
140,000
849,644
989,644
108,991
12/7/2015
Beaumont
TX
-
1,175,014
1,468,768
-
-
1,175,014
1,468,768
2,643,782
350,056
1/22/2013
Centerville
TX
-
340,000
873,035
-
-
340,000
873,035
1,213,035
120,770
7/21/2015
Coppell
TX
-
212,875
396,007
-
-
212,875
396,007
608,882
180,181
8/28/2007
Corpus Christi
TX
-
826,321
1,032,902
-
-
826,321
1,032,902
1,859,223
246,175
1/22/2013
Crossroads
TX
-
310,000
706,609
114,605
-
310,000
821,214
1,131,214
105,152
12/21/2015
Dallas
TX
-
386,451
718,361
-
-
386,451
718,361
1,104,812
326,852
8/28/2007
Denton
TX
-
380,000
700,572
110,497
-
380,000
811,069
1,191,069
103,730
12/7/2015
Desoto
TX
-
133,393
714,604
-
-
133,393
714,604
847,997
29,775
12/14/2017
Ennis
TX
-
173,250
384,793
45,798
12,600
173,250
443,191
616,441
424,520
12/28/1987
Farmersville
TX
-
190,000
677,920
117,515
-
190,000
795,435
985,435
102,150
12/21/2015
Ferris
TX
-
922,690
1,153,363
-
-
922,690
1,153,363
2,076,053
274,885
1/22/2013
Forney
TX
-
1,141,991
1,427,489
-
-
1,141,991
1,427,489
2,569,480
340,218
1/22/2013
Fort Worth
TX
-
223,195
492,067
-
223,195
492,121
715,316
492,121
6/26/1991
N/A
Fort Worth
TX
-
423,281
382,059
-
-
423,281
382,059
805,340
364,866
2/10/1995
Grand Prairie
TX
-
280,000
520,197
-
-
280,000
520,197
800,197
236,689
8/28/2007
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Houston
TX
-
113,693
-
-
113,693
113,751
3/7/1997
Houston
TX
-
335,664
624,233
-
-
335,664
624,233
959,897
284,024
8/28/2007
Houston
TX
-
1,003,721
1,254,651
-
-
1,003,721
1,254,651
2,258,372
299,025
1/22/2013
Hurst
TX
-
215,623
401,245
-
-
215,623
401,245
616,868
182,564
8/28/2007
Irving
TX
-
291,971
543,094
-
-
291,971
543,094
835,065
247,105
8/28/2007
Irving
TX
-
692,977
891,832
-
-
692,977
891,832
1,584,809
37,160
12/14/2017
Irving
TX
-
447,570
509,682
-
-
447,570
509,682
957,252
21,237
12/14/2017
Irving
TX
-
380,807
940,381
-
-
380,807
940,381
1,321,188
39,183
12/14/2017
Irving
TX
-
264,722
604,789
-
-
264,722
604,789
869,511
25,200
12/14/2017
Justin
TX
-
200,000
792,249
120,814
-
200,000
913,063
1,113,063
116,611
12/7/2015
Krum
TX
-
120,000
753,238
156,281
-
120,000
909,519
1,029,519
117,803
12/7/2015
Lewisville
TX
-
448,000
832,667
-
-
448,000
832,667
1,280,667
378,862
8/28/2007
Lufkin
TX
-
128,842
239,585
-
-
128,842
239,585
368,427
124,983
12/22/2005
Lumberton
TX
-
111,146
206,720
325,000
36,122
111,146
567,842
678,988
130,947
12/22/2005
Porter
TX
-
227,067
333,031
-
-
227,067
333,031
560,098
318,045
2/9/1995
Sanger
TX
-
150,000
702,524
-
-
150,000
702,524
852,524
85,467
12/7/2015
Santa Fe
TX
-
304,414
623,331
-
-
304,414
623,331
927,745
518,346
3/23/1998
South Houston
TX
-
1,139,426
1,424,283
-
-
1,139,426
1,424,283
2,563,709
339,454
1/22/2013
Stafford
TX
-
214,024
423,733
-
214,024
423,861
637,885
423,861
6/26/1991
N/A
Temple
TX
-
302,505
291,414
-
-
302,505
291,414
593,919
278,300
2/9/1995
Texarkana
TX
-
311,263
578,266
-
-
311,263
578,266
889,529
401,892
8/31/2001
Victoria
TX
-
1,062,212
1,327,765
-
-
1,062,212
1,327,765
2,389,977
316,451
1/22/2013
Victoria
TX
-
884,385
1,105,481
-
-
884,385
1,105,481
1,989,866
263,473
1/22/2013
Vidor
TX
-
146,291
271,990
345,000
2,400
146,291
619,390
765,681
154,751
12/22/2005
Appomattox
VA
-
247,986
1,128,335
-
-
247,986
1,128,335
1,376,321
31,970
4/17/2018
Bedford
VA
-
317,161
1,275,205
-
-
317,161
1,275,205
1,592,366
36,131
4/17/2018
Blacksburg
VA
-
907,138
914,272
-
-
907,138
914,272
1,821,410
25,904
4/17/2018
Christiansburg
VA
-
1,467,142
920,200
-
-
1,467,142
920,200
2,387,342
26,072
4/17/2018
Collinsville
VA
-
474,184
1,019,495
-
-
474,184
1,019,495
1,493,679
28,886
4/17/2018
Danville
VA
-
688,428
939,759
-
-
688,428
939,759
1,628,187
26,627
4/17/2018
Danville
VA
-
405,443
776,648
-
-
405,443
776,648
1,182,091
22,005
4/17/2018
Farmville
VA
-
675,247
1,560,571
-
-
675,247
1,560,571
2,235,818
44,216
4/17/2018
Forest
VA
-
244,056
1,052,151
-
-
244,056
1,052,151
1,296,207
29,811
4/17/2018
Hampton
VA
-
805,000
1,495,800
-
-
805,000
1,495,800
2,300,800
680,587
8/28/2007
Lynchburg
VA
-
308,824
573,529
-
-
308,824
573,529
882,353
190,221
9/14/2010
Lynchburg
VA
-
1,065,487
756,604
-
-
1,065,487
756,604
1,822,091
21,437
4/17/2018
Madison Heights
VA
-
564,440
1,194,007
-
-
564,440
1,194,007
1,758,447
33,830
4/17/2018
Martinsville
VA
-
816,152
1,188,791
-
-
816,152
1,188,791
2,004,943
33,682
4/17/2018
Radford
VA
-
829,382
848,770
-
-
829,382
848,770
1,678,152
24,048
4/17/2018
Roanoke
VA
-
1,579,716
1,332,761
-
-
1,579,716
1,332,761
2,912,477
37,762
4/17/2018
Roanoke
VA
-
1,048,853
1,170,126
-
-
1,048,853
1,170,126
2,218,979
33,154
4/17/2018
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Roanoke
VA
-
1,138,256
736,574
-
-
1,138,256
736,574
1,874,830
20,870
4/17/2018
Rocky Mount
VA
-
404,047
1,125,272
-
-
404,047
1,125,272
1,529,319
31,883
4/17/2018
Salem
VA
-
1,160,596
888,344
-
-
1,160,596
888,344
2,048,940
25,170
4/17/2018
South Boston
VA
-
286,455
875,733
-
-
286,455
875,733
1,162,188
24,812
4/17/2018
Troutville
VA
-
746,680
708,279
-
-
746,680
708,279
1,454,959
20,068
4/17/2018
Hampton
VA
-
433,985
459,108
-
-
433,985
459,108
893,093
380,284
4/17/1998
Spokane
WA
-
479,531
646,719
-
-
479,531
646,719
1,126,250
537,802
3/27/1998
Vancouver
WA
-
1,302,457
1,628,071
-
-
1,302,457
1,628,071
2,930,528
388,024
1/22/2013
Appleton
WI
-
340,126
631,662
-
-
340,126
631,662
971,788
169,496
4/17/2012
Beaver Dam
WI
-
230,000
980,309
-
-
230,000
980,309
1,210,309
138,877
6/25/2015
Green Bay
WI
-
308,131
572,756
-
-
308,131
572,756
880,887
296,878
1/11/2006
Kenosha
WI
-
140,000
1,261,738
-
-
140,000
1,261,738
1,401,738
115,659
9/30/2016
Oshkosh
WI
-
385,870
716,616
-
-
385,870
716,616
1,102,486
192,292
4/17/2012
Pewaukee
WI
-
590,000
1,125,653
-
-
590,000
1,125,653
1,715,653
103,185
9/30/2016
Waukesha
WI
-
380,000
1,430,547
-
-
380,000
1,430,547
1,810,547
131,133
9/30/2016
Grafton
WI
-
149,778
332,664
-
-
149,778
332,664
482,442
332,664
10/29/1987
N/A
Charleston
WV
-
459,405
1,112,679
-
-
459,405
1,112,679
1,572,084
16,690
8/20/2018
Huntington
WV
-
136,112
995,431
-
-
136,112
995,431
1,131,543
14,931
8/20/2018
Huntington
WV
-
502,301
1,050,557
-
-
502,301
1,050,557
1,552,858
15,758
8/20/2018
Huntington
WV
-
198,944
1,004,193
-
-
198,944
1,004,193
1,203,137
15,063
8/20/2018
Hurricane
WV
-
182,086
1,140,766
-
-
182,086
1,140,766
1,322,852
17,111
8/20/2018
Parkersburg
WV
-
63,011
1,110,788
-
-
63,011
1,110,788
1,173,799
16,662
8/20/2018
Ripley
WV
-
234,689
1,062,222
-
-
234,689
1,062,222
1,296,911
15,933
8/20/2018
Cody
WY
-
740,000
729,300
74,965
-
740,000
804,265
1,544,265
75,239
6/30/2016
Sheridan
WY
-
680,000
835,246
-
-
680,000
835,246
1,515,246
84,917
6/30/2016
Shoe Stores
Lebec
CA
8,673,010
2,357,234
30,943,343
-
-
2,357,234
30,943,343
33,300,577
5,267,736
1/22/2013
Staten Island
NY
-
3,190,883
3,413,933
129,768
207,431
3,190,883
3,751,132
6,942,015
2,655,518
3/26/1998
Brookville
OH
18,203,790
2,577,129
48,823,456
-
-
2,577,129
48,823,456
51,400,585
8,311,612
1/22/2013
McMinnville
TN
-
703,355
1,436,203
26,484
7,275
703,355
1,469,962
2,173,317
677,967
11/1/2006
Sporting Goods
Tuscaloosa
AL
-
2,270,000
6,727,302
-
-
2,270,000
6,727,302
8,997,302
571,821
11/9/2016
Mesa
AZ
-
984,890
1,536,269
-
-
984,890
1,536,269
2,521,159
714,347
2/12/2007
N/A
Fresno
CA
-
1,650,000
3,321,244
1,961,816
92,395
1,650,000
5,375,455
7,025,455
2,651,444
10/17/2001
Gainesville
GA
-
1,830,000
6,944,636
-
-
1,830,000
6,944,636
8,774,636
567,145
12/7/2016
Pooler
GA
-
1,339,957
1,831,350
-
-
1,339,957
1,831,350
3,171,307
930,630
3/1/2006
Algonquin
IL
-
1,360,000
7,255,745
-
-
1,360,000
7,255,745
8,615,745
1,183,647
4/22/2014
Avon
IN
-
2,200,000
5,299,303
5,039
-
2,200,000
5,304,342
7,504,342
972,106
10/11/2013
Greenwood
IN
-
1,490,000
5,241,516
-
-
1,490,000
5,241,516
6,731,516
1,004,624
3/25/2014
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Houma
LA
-
1,598,298
4,493,174
-
-
1,598,298
4,493,174
6,091,472
501,738
3/30/2016
Thibodaux
LA
-
930,000
9,470,000
-
-
930,000
9,470,000
10,400,000
773,383
12/6/2016
Winston Salem
NC
-
2,390,000
3,416,323
-
-
2,390,000
3,416,323
5,806,323
780,060
4/12/2013
Kearney
NE
-
173,950
344,393
-
-
173,950
344,393
518,343
344,393
5/1/1990
N/A
Glendale
NY
-
5,559,686
4,447,566
3,100,000
85,811
5,559,686
7,633,377
13,193,063
2,991,997
12/29/2004
Owasso
OK
-
2,140,000
6,780,084
-
-
2,140,000
6,780,084
8,920,084
644,108
8/1/2016
Eugene
OR
-
720,000
7,434,760
49,978
-
720,000
7,484,738
8,204,738
1,759,143
3/22/2013
Mechanicsburg
PA
-
2,101,415
3,902,912
-
2,101,415
3,903,037
6,004,452
2,673,541
11/8/2001
Columbia
SC
-
1,145,120
2,770,957
-
-
1,145,120
2,770,957
3,916,077
1,241,128
3/3/2005
Spartanburg
SC
-
806,410
3,111,921
-
-
806,410
3,111,921
3,918,331
1,715,512
3/3/2005
Baytown
TX
-
1,750,000
7,070,132
-
-
1,750,000
7,070,132
8,820,132
530,260
2/28/2017
El Paso
TX
-
700,000
2,501,244
1,478,677
103,253
700,000
4,083,174
4,783,174
2,033,318
10/17/2001
Houston
TX
-
1,140,982
4,253,818
-
-
1,140,982
4,253,818
5,394,800
616,804
5/28/2015
Huntsville
TX
-
580,000
5,720,000
-
-
580,000
5,720,000
6,300,000
981,933
9/29/2014
Port Arthur
TX
-
1,609,120
4,523,600
-
-
1,609,120
4,523,600
6,132,720
505,135
3/30/2016
San Antonio
TX
-
3,730,000
4,666,465
-
-
3,730,000
4,666,465
8,396,465
521,089
3/30/2016
Wichita Falls
TX
-
1,100,000
5,556,669
-
-
1,100,000
5,556,669
6,656,669
1,027,984
5/13/2014
Telecommunications
Augusta
GA
-
2,720,359
11,128,077
10,400
2,720,359
11,138,625
13,858,984
3,431,305
4/1/2011
Davenport
IA
-
270,000
930,689
357,209
21,532
270,000
1,309,431
1,579,431
813,123
6/26/1998
Harmans
MD
-
3,411,391
11,757,946
428,235
-
3,411,391
12,186,181
15,597,572
2,147,827
1/22/2013
East Syracuse
NY
8,721,890
880,000
15,816,613
-
-
880,000
15,816,613
16,696,613
2,127,711
4/30/2014
Portland
OR
-
1,246,233
7,769,297
-
-
1,246,233
7,769,297
9,015,530
501,608
12/10/2015
Salem
OR
-
1,721,686
9,387,216
687,054
1,721,686
10,074,328
11,796,014
2,838,104
6/22/2011
Brownsville
TX
-
1,740,479
11,570,294
-
1,740,479
11,570,441
13,310,920
3,567,655
4/1/2011
Theaters
Fairbanks
AK
-
2,586,879
9,575
-
2,586,879
9,729
2,596,608
6,961
9/27/2000
Huntsville
AL
-
2,810,868
14,308
-
-
2,810,868
14,308
2,825,176
10,325
9/27/2000
Chula Vista
CA
-
2,060,287
8,914,162
-
-
2,060,287
8,914,162
10,974,449
2,629,678
8/8/2011
Norwalk
CA
-
2,466,208
18,293,125
-
-
2,466,208
18,293,125
20,759,333
4,402,527
8/8/2011
Denver
CO
-
5,150,000
9,056,647
602,403
-
5,150,000
9,659,050
14,809,050
1,742,568
6/27/2014
Englewood
CO
-
1,955,910
6,026,667
-
-
1,955,910
6,026,667
7,982,577
-
11/30/2017
Naples
FL
-
2,618,441
8,979,199
-
-
2,618,441
8,979,199
11,597,640
6,569,761
9/27/2000
Austell
GA
-
2,497,504
10,148,237
-
-
2,497,504
10,148,237
12,645,741
2,993,730
8/8/2011
Chamblee
GA
-
4,329,404
14,942
-
-
4,329,404
14,942
4,344,346
10,595
9/27/2000
Morrow
GA
-
2,962,468
17,068,280
195,550
-
2,962,468
17,263,830
20,226,298
4,350,984
8/8/2011
Council Bluffs
IA
-
4,924,553
14,207,916
-
-
4,924,553
14,207,916
19,132,469
5,512,892
1/31/2008
Dubuque
IA
-
3,185,053
5,915,983
-
-
3,185,053
5,915,983
9,101,036
2,593,172
1/31/2008
Edwardsville
IL
-
4,270,500
9,070,885
-
-
4,270,500
9,070,885
13,341,385
4,822,677
9/28/2005
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Lake In The Hills
IL
-
3,297,566
11,716,314
-
-
3,297,566
11,716,314
15,013,880
5,382,434
9/28/2005
Lombard
IL
-
3,650,000
19,098,041
-
-
3,650,000
19,098,041
22,748,041
1,177,713
6/27/2017
Marion
IL
-
832,500
3,499,885
-
-
832,500
3,499,885
4,332,385
1,860,762
9/28/2005
Mattoon
IL
-
543,183
5,110,193
-
-
543,183
5,110,193
5,653,376
2,716,910
9/28/2005
North Pekin
IL
-
1,575,231
9,183,100
-
-
1,575,231
9,183,100
10,758,331
4,882,339
9/28/2005
Rockford
IL
-
4,268,721
16,675,954
-
-
4,268,721
16,675,954
20,944,675
8,866,039
9/28/2005
Springfield
IL
-
3,151,838
10,404,452
-
-
3,151,838
10,404,452
13,556,290
5,531,690
9/28/2005
Woodridge
IL
-
2,940,000
12,166,530
-
-
2,940,000
12,166,530
15,106,530
750,269
6/29/2017
Bloomington
IN
-
2,498,642
7,934,745
-
-
2,498,642
7,934,745
10,433,387
4,218,630
9/28/2005
Columbus
IN
-
1,999,812
7,234,361
-
-
1,999,812
7,234,361
9,234,173
3,846,259
9/28/2005
Indianapolis
IN
-
2,700,395
17,672,980
2,592,447
-
2,700,395
20,265,427
22,965,822
9,526,383
9/28/2005
Schererville
IN
-
1,500,000
12,982,759
-
-
1,500,000
12,982,759
14,482,759
670,776
9/13/2017
Terre Haute
IN
-
1,249,321
9,835,885
-
-
1,249,321
9,835,885
11,085,206
5,229,403
9/28/2005
Coon Rapids
MN
-
2,460,040
17,641,170
-
-
2,460,040
17,641,170
20,101,210
8,415,616
9/28/2005
Inver Grove
MN
-
2,863,272
18,471,062
-
-
2,863,272
18,471,062
21,334,334
8,626,957
9/28/2005
Poplar Bluff
MO
-
1,106,618
4,872,502
-
-
1,106,618
4,872,502
5,979,120
2,590,537
9/28/2005
Richmond Heights
MO
-
970,000
4,565,760
-
-
970,000
4,565,760
5,535,760
281,555
6/29/2017
Deptford
NJ
-
9,660,000
12,546,897
-
-
9,660,000
12,546,897
22,206,897
648,256
9/13/2017
Marlton
NJ
-
4,330,000
12,842,414
-
-
4,330,000
12,842,414
17,172,414
663,525
9/13/2017
Rockaway
NJ
-
8,634,576
14,679,823
-
-
8,634,576
14,679,823
23,314,399
7,076,389
4/13/2005
Wayne
NJ
-
1,165,534
6,934,466
4,400,000
-
1,165,534
11,334,466
12,500,000
378,995
12/18/2017
Amherst
NY
-
3,740,000
11,734,981
-
-
3,740,000
11,734,981
15,474,981
606,307
9/13/2017
Binghamton
NY
-
2,700,000
5,570,505
47,777
-
2,700,000
5,618,282
8,318,282
3,007,814
9/29/2005
Henrietta
NY
-
2,152,546
8,953,645
-
-
2,152,546
8,953,645
11,106,191
2,641,325
8/8/2011
Levittown
NY
-
5,270,000
22,316,207
-
-
5,270,000
22,316,207
27,586,207
1,153,004
9/13/2017
Rockville Centre
NY
-
1,920,000
8,562,759
-
-
1,920,000
8,562,759
10,482,759
442,409
9/13/2017
Webster
NY
-
1,490,000
18,510,000
-
-
1,490,000
18,510,000
20,000,000
956,350
9/13/2017
Akron
OH
-
1,511,018
1,386
-
-
1,511,018
1,386
1,512,404
1,000
9/27/2000
Beavercreek
OH
-
2,062,545
8,467,551
620,044
-
2,062,545
9,087,595
11,150,140
2,772,409
8/8/2011
Columbus
OH
-
2,103,351
5,161,550
-
-
2,103,351
5,161,550
7,264,901
3,329,187
11/1/2002
West Carrollton
OH
-
7,941,468
258,438
-
-
7,941,468
258,438
8,199,906
3,015
9/14/2018
Hillsboro
OR
-
4,915,032
16,377
-
4,915,032
16,434
4,931,466
11,876
9/27/2000
Portland
OR
-
2,793,001
9,942
-
2,793,001
10,000
2,803,001
7,233
9/27/2000
Spartanburg
SC
-
2,072,738
8,340,814
87,111
-
2,072,738
8,427,925
10,500,663
2,198,025
7/31/2012
Burleson
TX
-
2,280,000
6,195,734
421,144
-
2,280,000
6,616,878
8,896,878
1,736,350
7/26/2006
Dallas
TX
-
1,113,041
9,517,003
-
-
1,113,041
9,517,003
10,630,044
396,542
12/27/2017
Fort Worth
TX
-
2,024,495
7,574,597
-
-
2,024,495
7,574,597
9,599,092
315,608
12/27/2017
Laredo
TX
-
2,161,477
5,561,558
-
-
2,161,477
5,561,558
7,723,035
2,699,394
8/9/2005
Live Oak
TX
-
2,910,035
12,674,850
-
-
2,910,035
12,674,850
15,584,885
3,739,081
8/8/2011
Longview
TX
-
2,887,500
5,363,826
-
-
2,887,500
5,363,826
8,251,326
2,798,129
12/21/2005
Lubbock
TX
-
1,642,533
6,984,372
-
-
1,642,533
6,984,372
8,626,905
2,060,390
8/8/2011
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Waco
TX
-
1,013,706
5,880,539
-
-
1,013,706
5,880,539
6,894,245
2,871,663
10/6/2006
Wichita Falls
TX
-
660,000
8,940,000
-
-
660,000
8,940,000
9,600,000
461,900
9/29/2017
Glen Allen
VA
-
1,314,065
9,748,457
-
-
1,314,065
9,748,457
11,062,522
7,132,585
9/27/2000
Roanoke
VA
-
2,212,494
9,324,958
-
-
2,212,494
9,324,958
11,537,452
2,750,863
8/8/2011
Marysville
WA
-
1,988,142
-
-
-
1,988,142
-
1,988,142
-
7/27/2000
N/A
Fitchburg
WI
-
5,540,553
13,924,709
-
-
5,540,553
13,924,709
19,465,262
4,916,483
1/31/2008
Transportation Services
Phoenix
AZ
-
4,106,903
23,819,301
-
-
4,106,903
23,819,301
27,926,204
4,054,953
1/22/2013
West Sacramento
CA
-
12,277,918
29,165,650
17,616
-
12,277,918
29,183,266
41,461,184
4,970,497
1/22/2013
Palmetto
FL
-
1,853,907
14,815,927
38,534
-
1,853,907
14,854,461
16,708,368
3,491,542
3/17/2011
Conley
GA
-
420,000
780,000
-
-
420,000
780,000
1,200,000
248,300
1/10/2011
Chicago
IL
-
612,500
1,137,500
-
-
612,500
1,137,500
1,750,000
362,104
1/10/2011
Grayslake
IL
-
5,044,195
26,218,548
-
-
5,044,195
26,218,548
31,262,743
6,705,893
4/21/2011
Evansville
IN
-
959,651
4,053,122
-
-
959,651
4,053,122
5,012,773
1,182,161
9/13/2011
Zionsville
IN
-
2,450,000
29,832,030
-
-
2,450,000
29,832,030
32,282,030
1,953,371
9/6/2016
Dodge City
KS
-
244,811
3,713,789
8,765
-
244,811
3,722,554
3,967,365
594,428
1/22/2013
Hays
KS
-
171,304
2,701,222
10,568
-
171,304
2,711,790
2,883,094
410,257
1/22/2013
Wichita
KS
-
2,840,499
7,376,302
-
-
2,840,499
7,376,302
10,216,801
2,299,412
3/16/2011
Louisville
KY
-
472,500
877,500
-
-
472,500
877,500
1,350,000
279,338
1/10/2011
Louisville
KY
-
5,732,055
30,841,995
209,350
-
5,732,055
31,051,344
36,783,399
5,250,482
1/22/2013
Saint Rose
LA
-
3,147,428
8,283,048
207,446
-
3,147,428
8,490,494
11,637,922
2,340,451
12/20/2011
Baltimore
MD
-
1,740,080
4,580,068
-
-
1,740,080
4,580,068
6,320,148
2,825,076
4/1/2003
Baltimore
MD
-
4,499,317
50,857,761
36,500
-
4,499,317
50,894,261
55,393,578
8,471,372
1/22/2013
Detroit
MI
-
280,000
520,000
-
-
280,000
520,000
800,000
165,533
1/10/2011
Gibraltar
MI
-
245,000
455,000
-
-
245,000
455,000
700,000
144,842
1/10/2011
Novi
MI
-
210,000
677,324
-
-
210,000
677,324
887,324
102,728
3/31/2015
Saline
MI
-
1,275,995
17,421,877
5,127
-
1,275,995
17,427,004
18,702,999
2,769,032
1/22/2013
Saginaw
MI
-
219,564
10,638,391
10,464
-
219,564
10,648,855
10,868,419
1,812,428
1/22/2013
Rogers
MN
-
5,330,000
32,180,260
4,600
-
5,330,000
32,184,860
37,514,860
2,337,008
6/30/2016
Saint Cloud
MN
-
474,860
4,309,642
7,133
-
474,860
4,316,775
4,791,635
734,661
1/22/2013
Shakopee
MN
-
2,451,948
12,666,361
4,500
98,424
2,451,948
12,769,284
15,221,232
3,225,137
3/17/2011
Springfield
MO
-
2,669,300
19,440,332
171,712
-
2,669,300
19,612,044
22,281,344
3,359,933
1/22/2013
Petal
MS
-
315,000
3,657,281
-
-
315,000
3,657,281
3,972,281
575,745
7/12/2012
Charlotte
NC
-
735,000
1,365,000
-
-
735,000
1,365,000
2,100,000
434,525
1/10/2011
Grand Forks
ND
-
366,876
4,592,558
19,030
-
366,876
4,611,588
4,978,464
633,641
1/22/2013
Lincoln
NE
-
792,802
9,619,413
12,500
-
792,802
9,631,913
10,424,715
1,515,319
1/22/2013
West Lebanon
NH
-
996,755
10,423,379
16,000
54,889
996,755
10,494,268
11,491,023
1,442,685
1/22/2013
Bronx
NY
-
-
19,765,973
303,538
-
-
20,069,511
20,069,511
3,445,086
1/22/2013
Rensselaer
NY
-
5,393,842
67,289,268
-
142,250
5,393,842
67,431,518
72,825,360
10,897,099
1/22/2013
Columbus
OH
-
245,000
455,000
-
-
245,000
455,000
700,000
144,842
1/10/2011
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
North Canton
OH
-
-
10,641,063
-
-
-
10,641,063
10,641,063
1,811,514
1/22/2013
Uniontown
OH
-
2,237,958
53,040,112
-
-
2,237,958
53,040,112
55,278,070
9,029,448
1/22/2013
Vandalia
OH
-
719,985
10,102,113
8,352
-
719,985
10,110,465
10,830,450
2,711,691
4/10/2012
Walbridge
OH
-
210,000
390,000
-
-
210,000
390,000
600,000
124,150
1/10/2011
Whitehall
OH
-
1,400,000
24,053,357
15,694
-
1,400,000
24,069,051
25,469,051
2,320,575
8/26/2015
Coraopolis
PA
-
350,000
650,000
-
-
350,000
650,000
1,000,000
206,917
1/10/2011
Franklin
PA
-
405,243
4,797,771
22,294
-
405,243
4,820,065
5,225,308
866,197
3/15/2011
Parker
PA
-
210,000
390,000
-
-
210,000
390,000
600,000
124,150
1/10/2011
Snow Shoe
PA
-
591,101
12,994,366
-
-
591,101
12,994,366
13,585,467
2,212,136
1/22/2013
Sioux Falls
SD
1,526,816
416,023
3,775,664
-
-
416,023
3,775,664
4,191,687
638,917
1/22/2013
Chattanooga
TN
-
2,024,239
8,975,091
10,669
106,018
2,024,239
9,091,778
11,116,017
2,812,530
3/17/2011
Memphis
TN
-
3,570,000
16,398,303
202,533
-
3,570,000
16,600,836
20,170,836
2,838,930
2/27/2013
Mt Juliet
TN
15,994,715
3,290,000
24,709,876
-
-
3,290,000
24,709,876
27,999,876
1,970,907
3/31/2016
Freeport
TX
-
245,000
455,000
-
-
245,000
455,000
700,000
144,842
1/10/2011
Houston
TX
-
5,802,459
45,111,656
-
-
5,802,459
45,111,656
50,914,115
7,679,722
1/22/2013
Houston
TX
-
3,822,107
15,160,246
-
-
3,822,107
15,160,246
18,982,353
1,616,761
1/31/2014
Houston
TX
-
3,910,000
16,504,232
-
-
3,910,000
16,504,232
20,414,232
2,338,984
1/31/2014
La Porte
TX
-
875,000
1,625,000
-
-
875,000
1,625,000
2,500,000
517,292
1/10/2011
Missouri City
TX
-
5,360,000
27,203,138
-
-
5,360,000
27,203,138
32,563,138
1,975,466
6/30/2016
Sherman
TX
-
439,127
9,850,580
-
-
439,127
9,850,580
10,289,707
1,676,941
1/22/2013
Vineyard
UT
-
1,732,107
7,525,979
-
-
1,732,107
7,525,979
9,258,086
1,910,787
3/17/2011
Spokane Valley
WA
-
805,923
13,722,626
-
805,923
13,722,637
14,528,560
1,916,292
1/22/2013
Beaver
WV
-
497,198
6,060,449
13,245
-
497,198
6,073,694
6,570,892
958,200
1/22/2013
Charleston
WV
-
2,251,894
6,527,770
-
-
2,251,894
6,527,770
8,779,664
976,783
12/28/2012
Wholesale Club
Colorado Springs
CO
-
3,540,000
6,208,464
(1,343,900
)
-
3,540,000
4,864,564
8,404,564
1,375,041
6/28/2013
Derby
CT
-
5,699,931
10,585,586
-
-
5,699,931
10,585,586
16,285,517
2,664,413
9/20/2012
Waterford
CT
-
11,841,797
21,991,910
-
-
11,841,797
21,991,910
33,833,707
5,535,005
9/20/2012
Sanford
FL
-
5,788,032
10,749,203
-
-
5,788,032
10,749,203
16,537,235
2,705,590
9/20/2012
Augusta
GA
-
4,673,148
9,905,830
-
-
4,673,148
9,905,830
14,578,978
2,361,623
1/22/2013
Louisville
KY
-
2,760,000
4,165,646
-
-
2,760,000
4,165,646
6,925,646
923,879
6/28/2013
Kenner
LA
-
2,570,000
6,296,219
-
-
2,570,000
6,296,219
8,866,219
1,396,156
6/28/2013
Abingdon
MD
-
8,965,840
16,650,846
-
-
8,965,840
16,650,846
25,616,686
4,190,837
9/20/2012
Capitol Heights
MD
17,820,000
2,900,000
19,571,396
-
-
2,900,000
19,571,396
22,471,396
3,686,232
4/1/2014
Columbia
MD
-
10,208,201
18,958,088
-
-
10,208,201
18,958,088
29,166,289
5,529,442
9/30/2011
Nashua
NH
-
7,204,581
13,379,935
-
-
7,204,581
13,379,935
20,584,516
3,902,481
9/30/2011
Clay
NY
-
6,902,476
12,818,884
-
-
6,902,476
12,818,884
19,721,360
3,226,647
9/20/2012
Freeport
NY
-
13,122,718
24,370,763
-
-
13,122,718
24,370,763
37,493,481
7,108,574
9/30/2011
Yorktown Heights
NY
-
11,225,391
20,847,154
-
-
11,225,391
20,847,154
32,072,545
6,080,420
9/30/2011
Oklahoma City
OK
-
3,130,000
6,609,026
-
-
3,130,000
6,609,026
9,739,026
1,465,494
6/28/2013
REALITY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2018
Initial Cost to Company
Cost Capitalized Subsequent to Acquisition
Gross Amount at Which Carried at Close of Period
(Notes 3, 4, 6 and 7)
Description
(Note 1)
State
Encumbrances (Note 2)
Land
Buildings, Improvements and Acquisition Fees
Improvements
Carrying Costs
Land
Buildings, Improvements and Acquisition Fees
Total
Accumulated Depreciation
(Note 5)
Date of Construction
Date Acquired
Life on which depreciation in latest Income Statement is Computed (in Months)
Tulsa
OK
-
3,100,000
6,282,393
-
-
3,100,000
6,282,393
9,382,393
1,393,091
6/28/2013
Conshohocken
PA
-
7,231,557
13,430,034
-
-
7,231,557
13,430,034
20,661,591
3,917,093
9/30/2011
Stroudsburg
PA
-
5,192,837
9,643,840
-
-
5,192,837
9,643,840
14,836,677
2,427,594
9/20/2012
York
PA
-
5,433,864
10,091,462
-
-
5,433,864
10,091,462
15,525,326
2,540,059
9/20/2012
Memphis
TN
-
4,810,000
4,880,207
-
-
4,810,000
4,880,207
9,690,207
1,081,779
6/28/2013
Nashville
TN
-
3,750,000
6,192,254
-
-
3,750,000
6,192,254
9,942,254
1,373,110
6/28/2013
Amarillo
TX
-
1,190,000
5,821,158
-
-
1,190,000
5,821,158
7,011,158
1,290,686
6/28/2013
El Paso
TX
-
2,720,000
6,294,142
-
-
2,720,000
6,294,142
9,014,142
1,395,531
6/28/2013
Houston
TX
-
3,410,000
5,761,123
-
-
3,410,000
5,761,123
9,171,123
1,277,543
6/28/2013
Jersey Village
TX
-
3,370,000
5,867,135
-
-
3,370,000
5,867,135
9,237,135
1,301,042
6/28/2013
Plano
TX
-
6,750,000
7,581,624
-
-
6,750,000
7,581,624
14,331,624
1,680,922
6/28/2013
San Antonio
TX
-
3,660,000
5,214,663
-
-
3,660,000
5,214,663
8,874,663
1,156,411
6/28/2013
San Antonio
TX
-
3,830,000
5,021,369
-
-
3,830,000
5,021,369
8,851,369
1,113,564
6/28/2013
Tyler
TX
-
1,940,000
4,640,372
-
-
1,940,000
4,640,372
6,580,372
1,029,110
6/28/2013
Waco
TX
-
2,000,000
4,264,280
-
-
2,000,000
4,264,280
6,264,280
945,742
6/28/2013
Mechanicsville
VA
-
5,650,222
10,493,270
-
-
5,650,222
10,493,270
16,143,492
2,640,806
9/20/2012
Woodbridge
VA
-
5,659,285
10,510,101
-
-
5,659,285
10,510,101
16,169,386
3,065,881
9/30/2011
Other
San Diego
CA
-
5,810,243
15,603,737
1,528,704
95,270
5,810,243
17,227,712
23,037,955
2,683,797
9/13/2013
San Diego
CA
-
5,699,757
22,539,067
586,694
5,699,757
23,125,785
28,825,542
3,223,930
9/13/2013
Venice
FL
-
259,686
362,562
64,685
259,686
427,400
687,086
348,290
11/26/1996
Jackson
MS
-
405,360
656,296
(124,313
)
-
405,360
531,984
937,344
594,510
11/26/1996
Watertown
NY
-
139,199
-
-
-
139,199
-
139,199
-
8/18/1986
N/A
Virginia Beach
VA
-
551,588
797,260
164,467
18,603
551,588
980,352
1,531,940
701,213
2/23/1998
Tacoma
WA
-
198,857
-
-
-
198,857
-
198,857
-
5/29/1984
N/A
Crest Net Lease
Various
-
1,721,505
5,963,972
-
-
1,721,505
5,963,973
7,685,478
506,915
Various
Various
298,377,479
4,692,967,574
11,792,451,865
70,453,710
10,728,838
4,692,967,574
11,873,634,412
16,566,601,986
2,723,085,290
REALTY INCOME CORPORATION AND SUBSIDIARIES
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION
Note 1.
Realty Income Corporation owns 5,763 single-tenant properties and one corporate headquarters property. Crest Net Lease, Inc. owns 6 properties.
Realty Income Corporation also owns 28 multi-tenant properties located in each of the following cities: Anchorage, AK; El Cajon, CA; Elk Grove, CA; Hanford, CA; San Diego, CA; Greenwood Village, CO; Danbury, CT; Brandon, FL; Cutler Ridge, FL; Deerfield Beach, FL; Columbus, GA; Valdosta, GA; Davenport, IA; Waterloo, IA; Champaign, IL; Clinton, MI; Fair Grove, MO; Jefferson City, MO; Kernersville, NC; Staten Island, NY; Columbus, OH; Edmond, OK; Jackson, TN; Memphis, TN; Cedar Park, TX; Dallas, TX; The Colony, TX; and Virginia Beach, VA.
Note 2.
Includes mortgages payable secured by 60 properties, but excludes unamortized net debt premiums of $4.4 million.
Note 3.
The aggregate cost for federal income tax purposes for Realty Income Corporation is $16,597,514,084 and for Crest Net Lease, Inc. is $7,839,284.
Note 4.
The following is a reconciliation of total real estate carrying value for the years ended December 31:
Balance at Beginning of Period
15,027,043,415
13,904,519,436
12,310,846,785
Additions During Period:
Acquisitions
1,802,745,841
1,531,960,811
1,857,783,837
Less amounts allocated to acquired lease intangible assets and liabilities on our Consolidated Balance Sheets
(89,474,897
)
(238,556,294
)
(139,341,205
)
Improvements, Etc.
23,043,158
11,067,322
16,405,486
Other (Leasing Costs and Building Adjustments as a result of net debt premiums)
2,839,574
1,584,152
1,495,439
Total Additions
1,739,153,676
1,306,055,991
1,736,343,557
Deductions During Period:
Cost of Real Estate sold
165,023,825
150,394,756
118,792,948
Cost of Equipment sold
15,650
-
-
Releasing costs
232,089
109,986
418,772
Other (including Provisions for Impairment)
34,323,541
33,027,270
23,459,186
Total Deductions
199,595,105
183,532,012
142,670,906
Balance at Close of Period
16,566,601,986
15,027,043,415
13,904,519,436
Note 5.
The following is a reconciliation of accumulated depreciation for the years ended:
Balance at Beginning of Period
2,350,544,126
2,000,728,517
1,691,963,148
Additions During Period - Provision for Depreciation
432,482,396
393,415,491
355,030,226
Deductions During Period:
Accumulated depreciation of real estate and equipment sold or disposed of
59,941,232
43,599,882
46,264,857
Balance at Close of Period
2,723,085,290
2,350,544,126
2,000,728,517
Note 6.
In 2018, provisions for impairment were recorded on forty-five Realty Income properties.
In 2017, provisions for impairment were recorded on twenty-six Realty Income properties.
In 2016, provisions for impairment were recorded on thirty-nine Realty Income properties.
Note 7.
In accordance with Accounting Standards Codification 410, Asset Retirement and Environmental Obligations, we recorded in aggregate $8,297 in 2018, $9,774 in 2017, and $6,525 in 2016 to two buildings for the fair value of legal obligations to perform asset-retirement activities that are conditional on future events. These two properties are reported in the drug store industry and are located in Girard, PA and Slippery Rock, PA.
See report of independent registered public accounting firm.

---

Stock Performance Metrics:
Return: 0.002587698632851243
1-Day Return: $1_day_return
3-Day Return: $3_day_return
5-Day Return: $5_day_return
10-Day Return: $10_day_return
20-Day Return: $20_day_return
40-Day Return: $40_day_return
60-Day Return: $60_day_return
80-Day Return: $80_day_return
100-Day Return: $100_day_return
150-Day Return: $150_day_return
252-Day Return: $252_day_return