Annual report pursuant to Section 13 and 15(d)

REAL ESTATE AND ACCUMULATED DEPRECIATION

v2.4.1.9
REAL ESTATE AND ACCUMULATED DEPRECIATION
12 Months Ended
Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]  
REAL ESTATE AND ACCUMULATED DEPRECIATION
REAL ESTATE AND ACCUMULATED DEPRECIATION - CorEnergy Infrastructure Trust, Inc.

 
 
 
 
 
 
Initial Cost to Company
 
Cost Capitalized Subsequent to Acquisition
 
Gross Amount Carried at Close of Period 12/31/14
 
 
 
 
 
 
Description
 
Location
 
Date Acquired
 
Land
 
Building & Fixtures
 
Improvements
 
Land
 
Building & Fixtures
 
Total
 
Accumulated Depreciation
 
Investment in Real Estate, net, at 12/31/14
 
Encumbrances
Pinedale LGS1
 
Pinedale, WY
 
2012
 
$
105,485,063

 
$
125,119,062

 

 
$
105,485,063

 
$
125,119,062

 
$
230,604,125

 
$
18,023,778

 
$
212,580,347

 
$
67,060,000

Eastern Interconnect Project (Held for Sale)
 
Albuquerque, NM
 
2011
 

 
14,126,849

 

 

 
14,126,849

 
14,126,849

 
5,878,933

 
8,247,916

 

Portland Terminal Facility2
 
Portland, OR
 
2014
 

 
42,634,411

 
5,060,518

 

 
47,694,929

 
47,694,929

 
1,390,236

 
46,304,693

 

UPS
 
St. Louis, MO
 
2014
 
210,000

 
1,188,000

 

 
210,000

 
1,188,000

 
1,398,000

 
3,011

 
1,394,989

 

 
 
 
 
 
 
$
105,695,063

 
$
183,068,322

 
$
5,060,518

 
$
105,695,063

 
$
188,128,840

 
$
293,823,903

 
$
25,295,958

 
$
268,527,945

 
$
67,060,000

(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
 
For the Years Ended
 
For the One-Month Transition Period Ended December 31, 2012
 
December 31, 2014
 
December 31, 2013
 
November 30, 2012
 
Investment in real estate:
 
 
 
 
 
 
 
Balance, beginning of year
$
244,975,206

 
$
244,686,333

 
$
14,126,849

 
$
14,126,849

Addition: Acquisitions and developments
48,848,697

 
288,873

 

 
230,559,484

Deduction: Dispositions and other

 

 

 

Balance, end of year
$
293,823,903

 
$
244,975,206

 
$
14,126,849

 
$
244,686,333

Accumulated depreciation:
 
 
 
 
 
 
 
Balance, beginning of year
$
12,754,588

 
$
1,607,624

 
$
294,309

 
$
1,131,680

Addition: Depreciation
12,541,370

 
11,146,964

 
837,371

 
475,944

Deduction: Dispositions and other

 

 

 

Balance, end of year
$
25,295,958

 
$
12,754,588

 
$
1,131,680

 
$
1,607,624


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.