AMERICAN REALTY INVESTORS INC 10-K

ITEM 2. PROPERTIES Multifamily Properties Count Property Location Year Constructed Units Occupancy Consolidated Properties 1 Chelsea Beaumont, TX 1999 144 91.7 % 2 Forest Grove Bryan, TX 2020 84 100.0 % 3 Landing Bayou Houma, LA 2005 240 92.2 % 4 Legacy at Pleasant Grove Texarkana, TX 2006 208 93.3 % 5 Overlook at Allenville Phase II Sevierville, TN 2012 144 94.1 % 6 Parc at Denham Springs Phase II Denham Springs, LA 2010 144 83.3 % 7 Sugar Mill Phase III Baton Rouge, LA 2015 72 41.7 % 8 Toulon Gautier, MS 2011 240 97.2 % 9 Villas at Bon Secour Gulf Shores, AL 2007 200 96.4 % 10 Vista Ridge Tupelo, MS 2009 160 98.2 % 1,636 Joint Venture Properties 1 Abode Red Rock Las Vegas, NV 2018 308 90.2 % 2 Apalachee Point Villas Tallahassee, FL 2018 200 91.4 % 3 Blue Lake Villas Waxahachie, TX 2002 186 94.9 % 4 Blue Lake Villas Phase II Waxahachie, TX 2004 70 94.0 % 5 Breakwater Bay Beaumont, TX 2003 176 92.3 % 6 Bridgewood Ranch Kaufman, TX 2007 106 96.0 % 7 Capitol Hill Little Rock, TX 2003 156 91.8 % 8 Centennial Village Oak Ridge, TN 2011 252 97.8 % 9 Crossing as Opelika Opelika, AL 2011 168 96.2 % 10 Dakota Arms Lubbock, TX 2005 208 94.7 % 11 Desoto ranch DeSoto, TX 2003 248 95.1 % 12 Eagle Crossing Dallas, TX 2017 150 96.5 % 13 Falcon Lake Arlington, TX 2002 248 96.0 % 14 Heather Creek Mesquite, TX 2003 200 96.7 % 15 Lake Forest Humble, TX 2004 240 92.5 % 16 Lakeside Lofts Farmers Branch, TX 2020 245 89.7 % 17 Lodge at Pecan Creek Denton, TX 2011 192 93.3 % 18 Lofts at Reynolds Asheville, NC 2012 201 96.9 % 19 Mansions of Mansfield Mansfield, TX 2008 208 95.0 % 20 McKinney Point McKinney, TX 2017 198 93.6 % 21 Metropolitan Little rock, AR 2008 260 91.4 % 22 Mission Oaks San Antonio, TX 2006 228 94.6 % 23 Northside on Travis Sherman, TX 2008 200 93.2 % 24 Oak Hollow Sequin, TX 2011 160 92.5 % 25 Oak Hollow Phase II Sequin, TX 2018 96 90.7 % 26 Oceanaire Biloxi, MS 2009 196 95.8 % 27 Overlook at Allensville Square Sevierville, TX 2012 144 95.5 % 28 Parc at Bentonville Bentonville, AR 2017 216 94.5 % 29 Parc at Clarksville Clarksville, TN 2018 168 96.3 % 30 Parc at Denham Springs Denham Spring, LA 2007 224 90.0 % 31 Parc at Garland Garland, TX 2010 198 94.7 % 32 Parc at Mansfield Mansfield, TX 2017 99 93.5 % 33 Parc at Maumelle Little Rock, AR 2015 240 96.5 % 34 Parc at Metro Center Nashville, TN 2005 144 85.9 % 35 Parc at Rogers Rogers, AR 2006 250 93.3 % 14 Count Property Location Year Constructed Units Occupancy 36 Parc at Wylie Wylie, TX 2007 198 93.5 % 37 Preserve at Pecan Creek Denton, TX 2008 192 90.2 % 38 Preserve at Prairie Pointe Lubbock, TX 2005 184 96.5 % 39 Residences at Holland Lake Weatherford, TX 2004 208 92.2 % 40 Sawgrass Creek New Port Richey, FL 2018 188 95.9 % 41 Sonoma Court Rockwall, TX 2011 124 94.9 % 42 Sugar Mill Phase I Baton Rouge, LA 2009 160 68.8 % 43 Sugar Mill Phase II Baton Rouge, LA 2016 80 71.0 % 44 Tattersall Village Hinesville, GA 2010 222 90.0 % 45 Terra Lago Rowlett, TX 2018 451 87.4 % 46 Tradewinds Midland, TX 2015 214 85.4 % 47 Villas of Park West I Pueblo, CO 2005 148 95.4 % 48 Villas of Park West II Pueblo, CO 2010 112 94.6 % 49 Vistas of Vance Jackson San Antonio, TX 2005 240 93.5 % 50 Waterford At Summer Park Rosenberg, TX 2013 196 95.2 % 51 Windsong Fort Worth, TX 2003 188 94.1 % 9,888 61 Total Multifamily Properties 11,524 Multifamily Portfolio Composition The following table sets forth the location of and number of units as of December 31, 2020: Company owned VAA owned Total Location No. Units No. Units No. Units Alabama 1 200 1 168 2 368 Arkansas — — 4 966 4 966 Colorado — — 2 260 2 260 Florida — — 2 388 2 388 Georgia — — 1 222 1 222 Louisiana 3 456 3 464 6 920 Mississippi 2 400 1 196 3 596 North Carolina — — 1 201 1 201 Nevada — — 1 308 1 308 Tennessee 1 144 3 564 4 708 Texas 3 436 32 6,151 35 6,587 10 1,636 51 9,888 61 11,524 15 Commercial Properties Count Property Location Year Constructed Square Feet Occupancy Office Buildings 1 600 Las Colinas Irving, TX 1984 512,173 79.4 % 2 770 South Post Oak Houston, TX 1980 95,438 83.9 % 3 Browning Place Farmers Branch, TX 1982 625,297 87.0 % 4 Senlac Farmers Branch, TX 2025 2,821 100.0 % 5 Stanford Center Dallas, TX 1982 333,234 90.9 % 1,568,963 Retail Centers 1 Fruitland Park Fruitland Park, FL 2025 6,722 100.0 % 6 1,575,685 Commercial Lease Expirations The following table summarizes our commercial lease expirations as of December 31, 2020: Year of Lease Expiration Rentable Square Feet Subject to Expiring Leases Current Annualized Contractual Rent Under Expiring Leases (1,000s) Current Annualized Contractual Rent Under Expiring Leases (P.S.F.) Percentage of Total Square Feet Percentage of Gross Rentals 2021 134,027 $ 2,923 $ 21.81 8.5 % 10.9 % 2022 295,412 6,737 22.81 18.7 % 25.0 % 2023 296,233 4,815 16.26 18.8 % 17.9 % 2024 129,926 3,039 23.39 8.2 % 11.3 % 2025 149,448 3,569 23.88 9.5 % 13.3 % Thereafter 287,491 5,821 20.25 18.2 % 21.6 % 1,292,537 $ 26,904 81.9 % 100.0 % (1) Represents the monthly contractual base rent and recoveries from tenants under existing leases as of December 31, 2020, multiplied by twelve. This amount reflects total rent before any rent abatement and includes expense reimbursements, which may be estimates as of such date. 16 Land Investments Project Location Acres Held for Development EQK Portage Kent, OH 49 McKinney 36 Collin County, TX 18 Ocean Estates Gulfport, MS 12 Willowick Pensacola, FL 40 Mercer Crossing Commercial Farmers Branch, TX 19 Windmills Farm Kaufman County, TX 1,555 Other Various 40 1,733 Held subject to sales contract Mercer Crossing Farmers Branch, TX 15 Windmill Farms Kaufman County, TX 213 228 1,961