| REAL ESTATE AND ACCUMULATED DEPRECIATION |
REAL ESTATE AND ACCUMULATED DEPRECIATION - CorEnergy Infrastructure Trust, Inc.
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Initial Cost to Company |
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Cost Capitalized Subsequent to Acquisition |
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Gross Amount Carried at Close of Period 12/31/14 |
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Description |
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Location |
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Date Acquired |
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Land |
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Building & Fixtures |
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Improvements |
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Land |
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Building & Fixtures |
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Total |
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Accumulated Depreciation |
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Investment in Real Estate, net, at 12/31/14 |
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Encumbrances |
Pinedale LGS1
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Pinedale, WY |
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2012 |
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$ |
105,485,063 |
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$ |
125,119,062 |
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— |
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$ |
105,485,063 |
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$ |
125,119,062 |
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$ |
230,604,125 |
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$ |
18,023,778 |
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$ |
212,580,347 |
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$ |
67,060,000 |
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Eastern Interconnect Project (Held for Sale) |
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Albuquerque, NM |
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2011 |
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— |
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14,126,849 |
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— |
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— |
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14,126,849 |
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14,126,849 |
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5,878,933 |
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8,247,916 |
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— |
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Portland Terminal Facility2
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Portland, OR |
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2014 |
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— |
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42,634,411 |
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5,060,518 |
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— |
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47,694,929 |
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47,694,929 |
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1,390,236 |
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46,304,693 |
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— |
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UPS |
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St. Louis, MO |
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2014 |
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210,000 |
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1,188,000 |
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— |
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210,000 |
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1,188,000 |
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1,398,000 |
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3,011 |
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1,394,989 |
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— |
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$ |
105,695,063 |
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$ |
183,068,322 |
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$ |
5,060,518 |
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$ |
105,695,063 |
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$ |
188,128,840 |
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$ |
293,823,903 |
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$ |
25,295,958 |
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$ |
268,527,945 |
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$ |
67,060,000 |
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(1) In connection with the asset acquisition, CorEnergy and Pinedale LP incurred acquisition costs of $2,557,910, which are included in the total asset balance..
(2) In connection with the asset acquisition, LCP Oregon Holdings incurred acquisition costs of $1,798,353, which are included in the total asset balance. .
NOTES TO SCHEDULE III - CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION
Reconciliation of Real Estate and Accumulated Depreciation
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For the Years Ended |
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For the One-Month Transition Period Ended December 31, 2012 |
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December 31, 2014 |
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December 31, 2013 |
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November 30, 2012 |
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Investment in real estate: |
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Balance, beginning of year |
$ |
244,975,206 |
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$ |
244,686,333 |
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$ |
14,126,849 |
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$ |
14,126,849 |
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Addition: Acquisitions and developments |
48,848,697 |
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288,873 |
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— |
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230,559,484 |
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Deduction: Dispositions and other |
— |
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— |
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— |
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— |
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Balance, end of year |
$ |
293,823,903 |
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$ |
244,975,206 |
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$ |
14,126,849 |
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$ |
244,686,333 |
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Accumulated depreciation: |
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Balance, beginning of year |
$ |
12,754,588 |
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$ |
1,607,624 |
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$ |
294,309 |
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$ |
1,131,680 |
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Addition: Depreciation |
12,541,370 |
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11,146,964 |
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837,371 |
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475,944 |
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Deduction: Dispositions and other |
— |
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— |
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— |
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— |
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Balance, end of year |
$ |
25,295,958 |
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$ |
12,754,588 |
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$ |
1,131,680 |
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$ |
1,607,624 |
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The aggregate cost of the properties is approximately $3,180,706 lower for federal income tax purposes at December 31, 2014. The tax basis of the properties is unaudited.
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