| SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Text Block] |
SCHEDULE III - 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 12/31/15 |
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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 12/31/15 |
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Encumbrances |
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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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$ |
26,893,218 |
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$ |
203,710,907 |
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$ |
62,532,000 |
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Portland Terminal Facility2
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Portland, OR |
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2014 |
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13,700,000 |
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27,961,956 |
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10,000,000 |
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13,700,000 |
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37,961,956 |
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51,661,956 |
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2,625,606 |
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49,036,350 |
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7,141,946 |
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5 |
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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32,670 |
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1,365,330 |
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193,265 |
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5 |
Grand Isle Gathering System 3 4
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Gulf of Mexico |
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2015 |
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960,000 |
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258,471,397 |
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— |
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960,000 |
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258,471,397 |
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259,431,397 |
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4,317,769 |
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255,113,628 |
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35,864,789 |
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5 |
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$ |
120,355,063 |
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$ |
412,740,415 |
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$ |
10,000,000 |
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$ |
120,355,063 |
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$ |
422,740,415 |
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$ |
543,095,478 |
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$ |
33,869,263 |
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$ |
509,226,215 |
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$ |
105,732,000 |
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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. |
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(2) In connection with the asset acquisition, LCP Oregon Holdings incurred acquisition costs of $1,777,956, which are included in the total asset balance. |
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(3) In connection with the asset acquisition, Grand Isle Gathering System incurred acquisition costs of $1,931,396, which are included in the total asset balance. |
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(4) Included in the Building and Fixtures amount is $12,500,000 and included in Accumulated Depreciation is $202,536 relating to the Asset Retirement Obligation, which was included as non-cash consideration in the purchase of the asset. |
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(5) These 3 properties are covered by the Regions Credit Facility. The amount outstanding at that facility at December 31, 2015, is $43,200,000, which has been allocated out pro rata among these properties based on total gross amount carried at the close of December 31, 2015. |
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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 December 31, |
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2015 |
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2014 |
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2013 |
Investment in real estate: |
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Balance, beginning of year |
$ |
293,823,903 |
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$ |
244,975,206 |
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$ |
244,686,333 |
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Addition: Acquisitions and developments |
263,398,424 |
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48,848,697 |
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288,873 |
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Deduction: Dispositions and other |
(14,126,849 |
) |
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— |
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— |
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Balance, end of year |
$ |
543,095,478 |
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$ |
293,823,903 |
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$ |
244,975,206 |
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Accumulated depreciation: |
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Balance, beginning of year |
$ |
25,295,958 |
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$ |
12,754,588 |
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$ |
1,607,624 |
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Addition: Depreciation |
15,021,908 |
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12,541,370 |
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11,146,964 |
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Deduction: Dispositions and other |
(6,448,603 |
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— |
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— |
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Balance, end of year |
$ |
33,869,263 |
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$ |
25,295,958 |
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$ |
12,754,588 |
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The aggregate cost of the properties is approximately $9,646,148 lower for federal income tax purposes at December 31, 2015. The tax basis of the properties is unaudited.
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