Annual report pursuant to Section 13 and 15(d)

Schedule III - Real Estate and Accumulated Depreciation

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Schedule III - Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III - Real Estate and Accumulated Depreciation
SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2021
(In Thousands)
      Initial Cost Subsequent Capitalized Additions Total Cost  
Location and Description of Property Date Acquired Encumbrances Land and Land Improvements Buildings & Improvements Permanent Plantings Land Improvements Buildings & Improvements Permanent Plantings Land and Land Improvements Buildings & Improvements Permanent Plantings
Total(1)
Accumulated Depreciation(2)
Santa Cruz County, California:
  Land & Improvements
 6/16/1997 $ 7,692  $ 4,350  $ —  $ —  $ —  $ 579  $ —  $ 4,350  $ 579  $ —  $ 4,929  $ (380)
Ventura County, California:
  Land, Buildings & Improvements
 9/15/1998 29,977  9,895  5,256  —  —  293  —  9,895  5,549  —  15,444  (4,531)
Santa Cruz County, California:
  Land & Improvements
 1/3/2011 6,708  8,328  —  —  443  527  —  8,771  527  —  9,298  (200)
Hillsborough County, Florida:
 Land, Buildings & Improvements
 9/12/2012 2,468  2,199  1,657  —  14  1,779  —  2,213  3,436  —  5,649  (1,446)
Monterey County, California:
  Land, Buildings & Improvements
 10/21/2013 4,808  7,187  164  —  180  3,112  —  7,367  3,276  —  10,643  (892)
Cochise County, Arizona:
  Land, Buildings & Improvements
 12/27/2013 2,940  6,168  572  —  8  4,877  —  6,176  5,449  —  11,625  (1,421)
Santa Cruz County, California:
  Land, Building & Improvements
 6/13/2014 3,012  5,576  207  —  —  12  —  5,576  219  —  5,795  (209)
Ventura County, California:
  Land, Buildings & Improvements
 7/23/2014 2,241  6,219  505  —  —  85  —  6,219  590  —  6,809  (267)
Kern County, California:
  Land & Improvements
 7/25/2014 2,925  5,841  67  —  —  993  —  5,841  1,060  —  6,901  (446)
Manatee County, Florida:
  Land, Buildings & Improvements
 9/29/2014 8,627  8,466  5,426  —  —  667  —  8,466  6,093  —  14,559  (3,832)
Ventura County, California:
  Land, Buildings & Improvements
 10/29/2014 15,271  23,673  350  —  —  2,166  —  23,673  2,516  —  26,189  (745)
Ventura County, California:
  Land & Improvements
 11/4/2014 3,180  5,860  92  —  —  2  —  5,860  94  —  5,954  (67)
Monterey County, California:
  Land, Buildings & Improvements
 1/5/2015 10,673  15,852  582  —  (156) 1,483  —  15,696  2,065  —  17,761  (861)
Manatee County, Florida:
  Land, Buildings & Improvements
 3/10/2015 3,595  2,403  1,871  —  —  84  —  2,403  1,955  —  4,358  (1,213)
Hendry County, Florida:
  Land, Buildings & Improvements
 6/25/2015 10,356  14,411  789  —  —  —  —  14,411  789  —  15,200  (643)
Rock County, Nebraska:
  Land, Buildings & Improvements
 8/20/2015 —  4,862  613  —  —  —  —  4,862  613  —  5,475  (469)
Holt County, Nebraska:
  Land, Buildings & Improvements
 8/20/2015 —  4,690  786  —  —  —  —  4,690  786  —  5,476  (399)
Kern County, California:
  Land & Improvements
 9/3/2015 15,837  18,893  497  —  688  5,959  1,418  19,581  6,456  1,418  27,455  (2,447)
Cochise County, Arizona:
  Land, Buildings & Improvements
 12/23/2015 3,210  4,234  1,502  —  5  3,599  —  4,239  5,101  —  9,340  (1,092)
Saguache County, Colorado:
  Land, Buildings & Improvements
 3/3/2016 14,557  16,756  8,348  —  —  1,486  —  16,756  9,834  —  26,590  (5,348)
Fresno County, California:
 Land, Improvements & Permanent plantings
 4/5/2016 7,833  3,623  1,228  11,455  28  362  —  3,651  1,590  11,455  16,696  (2,937)
Saint Lucie County, Florida:
  Land, Buildings & Improvements
 7/1/2016 2,652  4,165  971  —  —  —  —  4,165  971  —  5,136  (534)
Baca County, Colorado:
  Land & Buildings
 9/1/2016 3,394  6,167  214  —  —  —  —  6,167  214  —  6,381  (76)
Merced County, Colorado:
  Land & Improvements
 9/14/2016 7,466  12,845  504  —  —  190  —  12,845  694  —  13,539  (133)
Stanislaus County, Colorado:
  Land & Improvements
 9/14/2016 8,088  14,114  45  —  —  463  —  14,114  508  —  14,622  (107)
Fresno County, California:
 Land, Improvements & Permanent plantings
 10/13/2016 3,392  2,937  139  3,452  —  —  —  2,937  139  3,452  6,528  (951)
Baca County, Colorado:
  Land & Improvements
 12/28/2016 6,561  11,430  278  —  —  —  —  11,430  278  —  11,708  (278)
Martin County, Florida:
  Land & Improvements
 1/12/2017 32,400  52,443  1,627  —  —  —  —  52,443  1,627  —  54,070  (325)
Yuma County, Arizona
  Land & Improvements
 6/1/2017 13,158  12,390  12,191  —  151  16,775  —  12,541  28,966  —  41,507  (5,344)
Fresno County, California:
 Land, Improvements & Permanent plantings
 7/17/2017 6,807  5,048  777  7,818  2  1,521  (1,124) 5,050  2,298  6,694  14,042  (1,461)
Santa Barbara County, California:
 Land, Improvements & Permanent plantings
 8/9/2017 3,225  4,559  577  397  (50) 172  1,484  4,509  749  1,881  7,139  (529)
Okeechobee County, Florida:
  Land & Improvements
 8/9/2017 5,014  9,111  953  —  985  1,094  —  10,096  2,047  —  12,143  (549)
Walla Walla County, Washington:
 Land, Improvements & Permanent plantings
 9/8/2017 4,659  5,286  401  3,739  —  —  —  5,286  401  3,739  9,426  (2,238)
Fresno County, California:
 Land, Improvements & Permanent plantings
 12/15/2017 3,080  2,016  324  3,626  (1) —  (3) 2,015  324  3,623  5,962  (1,451)
Kern County, California:
  Land & Improvements
 1/31/2018 2,045  2,733  249  —  (4) 1,529  —  2,729  1,778  —  4,507  (229)
Collier & Hendry, Florida Land & Improvements 7/12/2018 21,013  36,223  344  —  1  —  —  36,224  344  —  36,568  (170)
Kings County, California:
 Land, Improvements & Permanent plantings
 9/13/2018 3,983  3,264  284  3,349  5  —  5  3,269  284  3,354  6,907  (412)
Madera, California:
 Land, Improvements & Permanent plantings
 11/1/2018 13,089  12,305  1,718  9,015  13  2  9  12,318  1,720  9,024  23,062  (1,060)
Hartley County, Texas:
  Land & Improvements
 11/20/2018 5,000  7,320  1,054  —  3  96  —  7,323  1,150  —  8,473  (223)
Merced County, California:
  Land
 12/6/2018 4,627  8,210  —  —  5  —  —  8,215  —  —  8,215  — 
Madera County, California:
  Land & Improvements
 4/9/2019 16,445  8,074  2,696  17,916  —  1,284  —  8,074  3,980  17,916  29,970  (2,567)
Allegran and Van Buren County, Michigan:
 Land & Improvements
 6/4/2019 2,920  1,634  800  2,694  —  —  —  1,634  800  2,694  5,128  (474)
Yolo County, California:
  Land & Improvements
 6/13/2019 4,852  5,939  665  2,648  —  —  —  5,939  665  2,648  9,252  (354)
Monterey County, California:
  Land & Improvements
 7/11/2019 5,708  8,629  254  —  1,342  1,561  —  9,971  1,815  —  11,786  (153)
Martin County, Florida:
  Land & Improvements
 7/22/2019 36,040  51,691  6,595  —  4  1  —  51,695  6,596  —  58,291  (1,237)
Fresno County, California:
  Land & Improvements
 8/16/2019 39,592  24,772  13,410  31,420  (3) 326  10  24,769  13,736  31,430  69,935  (4,141)
Ventura County, California:
  Land & Improvements
 8/28/2019 12,706  20,602  397  —  172  1,169  —  20,774  1,566  —  22,340  (290)
Napa County, California:
 Land & Improvements
 8/29/2019 17,569  27,509  1,646  2,923  3,435  451  648  30,944  2,097  3,571  36,612  (893)
Hayes County, Nebraska:
  Land & Improvements
 10/7/2019 3,045  4,750  264  —  16  1  —  4,766  265  —  5,031  (99)
Hayes & Hitchcock County, Nebraska:
  Land & Improvements
 10/7/2019 5,739  9,275  431  —  20  1  —  9,295  432  —  9,727  (179)
Phillips County, Colorado:
  Land & Improvements
 1/15/2020 4,500  6,875  660  —  —  7  —  6,875  667  —  7,542  (130)
Kern County, California:
  Land, Improvements & Permanent plantings
 6/24/2020 8,290  12,521  1,325  370  —  —  —  12,521  1,325  370  14,216  — 
Wicomico & Caroline County, Maryland, and Sussex County, Delaware:
  Land & Improvements
 8/31/2020 4,374  6,703  626  —  —  114  —  6,703  740  —  7,443  (90)
Fresno County, California:
  Land & Improvements
 9/3/2020 18,199  15,071  4,680  11,921  —  203  —  15,071  4,883  11,921  31,875  (1,104)
Fresno County, California:
  Land, Improvements & Permanent plantings
 10/1/2020 18,248  7,128  9,206  15,242  8  98  16  7,136  9,304  15,258  31,698  (1,245)
Ventura County, California:
  Land & Improvements
 12/15/2020 12,450  19,215  1,264  —  48  3  —  19,263  1,267  —  20,530  (122)
Tulare County, California:
  Land, Improvements & Permanent plantings
 12/17/2020 22,319  26,952  6,420  28,152  36  9  37  26,988  6,429  28,189  61,606  (2,741)
Whatcom County, Washington:
 Land, Improvements, & Permanent plantings
 12/24/2020 20,262  8,219  7,228  16,281  18  226  35  8,237  7,454  16,316  32,007  (1,483)
San Joaquin County, California:
Land, Improvements, & Permanent plantings
 12/24/2020 26,694  12,265  2,142  19,924  6  40  10  12,271  2,182  19,934  34,387  (2,229)
San Joaquin County, California:
Land, Improvements, & Permanent plantings
 3/11/2021 —  —  4,306  —  —  —  —  —  4,306  —  4,306  (248)
Tehama County, California Land & Improvements & Horticulture 4/5/2021 22,570  27,747  2,512  6,600  103  34  —  27,850  2,546  6,600  36,996  (584)
Kern County, California Land & Improvements & Horticulture 6/4/2021 —  21,810  2,514  25,984  65  81  —  21,875  2,595  25,984  50,454  (1,014)
Van Buren County, Michigan: Land & Improvements & Horticulture 6/9/2021 7,889  3,677  4,391  5,233  13  35  —  3,690  4,426  5,233  13,349  (220)
Kern County, California Land & Improvements & Horticulture 8/11/2021 15,288  5,690  8,156  16,154  11  46  —  5,701  8,202  16,154  30,057  (623)
Yamhill County, Oregon Land & Improvements & Horticulture 8/11/2021 6,880  2,854  2,493  6,972  36  —  —  2,890  2,493  6,972  12,355  (230)
St. Lucie County, Florida Land & Improvements & Horticulture 8/18/2021 3,174  2,494  601  2,146  173  —  111  2,667  601  2,257  5,525  (91)
Kern County, California Land & Improvements & Horticulture 12/3/2021 —  22,363  2,894  62,744  90  —  —  22,453  2,894  62,744  88,091  (206)
Charlotte County, FL Land & Improvements & Horticulture 12/16/2021 —  7,275  75  —  85  —  —  7,360  75  —  7,435  (1)
Miscellaneous Investments Various 30,357  40,696  11,689  10,031  350  3,902  1,107  41,046  15,591  11,138  67,775  (5,339)
$ 671,673  $ 804,482  $ 153,502  $ 328,206  $ 8,348  $ 59,499  $ 3,763  $ 812,830  $ 213,001  $ 331,969  $ 1,357,800  $ (74,002)
(1)The aggregate cost for land, buildings, improvements and long-lived horticulture plantings for federal income tax purposes is approximately $1.3 billion.
(2)The Company computes depreciation using the straight-line method over the shorter of the estimated useful life or 39 years for buildings and improvements, the shorter of the estimated useful life or 40 years for permanent plantings, 5 to 20 years for equipment and fixtures and the shorter of the useful life or the remaining lease term for tenant improvements.
The following table reconciles the change in the balance of real estate during the years ended December 31, 2021 and 2020, respectively (dollars in thousands): 
2021 2020
Balance, beginning of period $ 1,095,439  $ 827,255 
Additions:
Acquisitions during the period 257,862  257,055 
Improvements 8,181  11,129 
Deductions:
Dispositions during period (3,682) — 
Balance, end of period $ 1,357,800  $ 1,095,439 
The following table reconciles the change in the balance of accumulated depreciation during the years ended December 31, 2021 and 2020, respectively (dollars in thousands):
2021 2020
Balance, beginning of period $ 49,236  $ 35,174 
Additions during period 25,905  16,655 
Dispositions during period (1,139) (2,593)
Balance, end of period $ 74,002  $ 49,236