| Consolidated Real Estate Investments |
5. Consolidated Real Estate Investments As of December 31, 2025, the major components of the Company’s investments in real estate held by SPEs the Company consolidates, which are included in "Consolidated Real Estate Investments" on the Consolidated Balance Sheet, were as follows (in thousands):
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Real Estate Investments |
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Land |
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Buildings and Improvements |
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Intangible Lease Assets |
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Intangible Lease Liabilities |
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Right of use assets |
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Construction in Progress |
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Furniture, Fixtures, and Equipment |
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Totals |
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White Rock Center |
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$ |
1,315 |
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$ |
10,672 |
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$ |
1,921 |
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$ |
(101 |
) |
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$ |
— |
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$ |
— |
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$ |
13 |
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$ |
13,820 |
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5916 W Loop 289 |
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851 |
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2,594 |
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— |
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— |
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— |
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— |
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— |
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3,445 |
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Cityplace |
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18,812 |
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195,416 |
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9,058 |
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(6,669 |
) |
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— |
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19,239 |
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379 |
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236,235 |
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NexPoint Dominion Land, LLC |
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26,500 |
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— |
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— |
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— |
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— |
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— |
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— |
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26,500 |
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Dallas Hilton Garden Inn |
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4,116 |
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24,838 |
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— |
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— |
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— |
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74 |
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1,587 |
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30,615 |
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St. Petersburg Marriott |
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5,829 |
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37,879 |
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— |
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— |
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— |
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731 |
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2,307 |
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46,746 |
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Hyatt Place Park City |
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3,737 |
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20,327 |
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— |
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— |
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— |
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876 |
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3,166 |
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28,106 |
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Bradenton Hampton Inn & Suites |
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837 |
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25,669 |
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— |
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— |
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1,464 |
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317 |
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2,904 |
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31,191 |
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HUB Research Triangle Park |
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— |
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— |
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— |
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— |
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534 |
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— |
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— |
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534 |
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61,997 |
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317,395 |
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10,979 |
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(6,770 |
) |
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1,998 |
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21,237 |
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10,356 |
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417,192 |
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Accumulated depreciation and amortization |
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— |
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(37,837 |
) |
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(9,215 |
) |
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4,705 |
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(68 |
) |
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— |
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(2,908 |
) |
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(45,323 |
) |
Total Operating Properties |
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$ |
61,997 |
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$ |
279,558 |
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$ |
1,764 |
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$ |
(2,065 |
) |
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$ |
1,930 |
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$ |
21,237 |
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$ |
7,448 |
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$ |
371,869 |
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As of December 31, 2024, the major components of the Company’s investments in real estate held by SPEs the Company consolidates, which are included in "Consolidated Real Estate Investments" on the Consolidated Balance Sheet, were as follows (in thousands):
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Real Estate Investments |
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Land |
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Buildings and Improvements |
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Intangible Lease Assets |
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Intangible Lease Liabilities |
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Right of use assets |
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Construction in Progress |
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Furniture, Fixtures, and Equipment |
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Totals |
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White Rock Center |
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$ |
1,315 |
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$ |
10,568 |
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$ |
1,921 |
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$ |
(101 |
) |
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$ |
— |
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$ |
— |
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$ |
13 |
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$ |
13,716 |
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5916 W Loop 289 |
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1,081 |
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2,938 |
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— |
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— |
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— |
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— |
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— |
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4,019 |
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Cityplace |
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18,812 |
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195,408 |
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9,058 |
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(6,669 |
) |
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— |
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19,053 |
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|
356 |
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236,018 |
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NexPoint Dominion Land, LLC |
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26,500 |
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— |
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— |
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— |
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— |
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— |
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— |
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26,500 |
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Dallas Hilton Garden Inn |
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4,116 |
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24,631 |
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— |
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— |
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— |
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96 |
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1,475 |
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30,318 |
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St. Petersburg Marriott |
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5,829 |
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33,715 |
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— |
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— |
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— |
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3,951 |
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2,301 |
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45,796 |
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Hyatt Place Park City |
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3,737 |
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19,876 |
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— |
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— |
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— |
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|
877 |
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3,146 |
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27,636 |
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Bradenton Hampton Inn & Suites |
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837 |
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25,064 |
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— |
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— |
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1,465 |
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712 |
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2,833 |
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30,911 |
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HUB Research Triangle Park |
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— |
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— |
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— |
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— |
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711 |
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— |
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— |
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711 |
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62,227 |
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312,200 |
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10,979 |
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(6,770 |
) |
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2,176 |
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24,689 |
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10,124 |
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415,625 |
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Accumulated depreciation and amortization |
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— |
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(25,230 |
) |
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(8,353 |
) |
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3,631 |
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(29 |
) |
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— |
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(1,390 |
) |
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(31,371 |
) |
Total Operating Properties |
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$ |
62,227 |
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$ |
286,970 |
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$ |
2,626 |
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$ |
(3,139 |
) |
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$ |
2,147 |
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$ |
24,689 |
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$ |
8,734 |
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$ |
384,254 |
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Held for Sale Properties |
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Plano Homewood Suites |
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$ |
2,106 |
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$ |
5,394 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
28 |
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$ |
738 |
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8,266 |
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Las Colinas Homewood Suites |
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2,292 |
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10,153 |
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— |
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— |
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— |
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313 |
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1,004 |
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13,762 |
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Addison Property |
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2,351 |
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4,577 |
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— |
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— |
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— |
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|
518 |
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|
804 |
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8,250 |
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Accumulated depreciation and amortization |
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— |
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(218 |
) |
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— |
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— |
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— |
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— |
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(170 |
) |
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(388 |
) |
Total Held for Sale Properties |
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$ |
6,749 |
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$ |
19,906 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
859 |
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$ |
2,376 |
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$ |
29,890 |
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Depreciation expense was $14.1 million for the year ended December 31, 2025 and $13.6 million for the year ended December 31, 2024. Amortization expense related to the Company’s intangible lease assets was $0.9 million for the year ended December 31, 2025 and $1.6 million for the year ended December 31, 2024. Amortization expense related to the Company's intangible lease liabilities was $1.1 million for the year ended December 31, 2025 and $1.4 million for the year ended December 31, 2024. The net amount amortized as an increase to rental revenue for capitalized above and below-market lease intangibles was $1.0 million for the year ended December 31, 2025 and $1.0 million for the year ended December 31, 2024. Acquisitions There were no acquisitions by the Company for the year ended December 31, 2025. During the year ended December 31, 2024, as a result of the NHT Acquisition, the Company consolidated the following properties: Dallas Hilton Garden Inn, Addison Property, Plano HomeWood Suites, Las Colinas HomeWood Suites, St. Petersburg Marriott, Hyatt Place Park City, Bradenton Hampton Inn & Suites. Dispositions The Company sold three properties for the year ended December 31, 2025 as detailed in the table below (in thousands). The Company did not sell any properties during the year ended December 31, 2024.
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Property Name |
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Location |
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Date of Sale |
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Sales Price |
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Net Cash Proceeds |
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Gain (Loss) on Sale of Real Estate |
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Plano HomeWood Suites |
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Plano, Texas |
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1/24/2025 |
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$ |
8,300 |
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$ |
8,154 |
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$ |
11 |
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Addison Property |
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Addison, Texas |
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4/18/2025 |
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$ |
6,400 |
|
|
$ |
6,308 |
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$ |
(88 |
) |
Las Colinas HomeWood Suites |
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Las Colinas, Texas |
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4/8/2025 |
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$ |
14,000 |
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$ |
13,844 |
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$ |
114 |
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