AMERICAN REALTY INVESTORS INC 10-K

ITEM 2. PROPERTIES Residential Properties Count Property Location Year Constructed Units Occupancy Consolidated Properties 1 Chelsea Beaumont, TX 1999 144 96.5 % 2 Forest Grove Bryan, TX 2020 84 98.8 % 3 Landing Bayou Houma, LA 2005 240 42.1 % 4 Legacy at Pleasant Grove Texarkana, TX 2006 208 96.6 % 5 Parc at Denham Springs Phase II Denham Springs, LA 2010 144 93.8 % 6 Sugar Mill Phase III Baton Rouge, LA 2015 72 86.1 % 7 Toulon Gautier, MS 2011 240 98.8 % 8 Villas at Bon Secour Gulf Shores, AL 2007 200 96.5 % 9 Vista Ridge Tupelo, MS 2009 160 96.9 % 1,492 Joint Venture Properties 1 Abode Red Rock Las Vegas, NV 2018 308 97.1 % 2 Apalachee Point Villas Tallahassee, FL 2018 200 98.5 % 3 Blue Lake Villas Waxahachie, TX 2002 186 98.4 % 4 Blue Lake Villas Phase II Waxahachie, TX 2004 70 97.1 % 5 Breakwater Bay Beaumont, TX 2003 176 96.6 % 6 Bridgewood Ranch Kaufman, TX 2007 106 99.1 % 7 Capitol Hill Little Rock, AR 2003 156 97.4 % 8 Centennial Village Oak Ridge, TN 2011 252 97.2 % 9 Crossing at Opelika Opelika, AL 2011 168 97.0 % 10 Dakota Arms Lubbock, TX 2005 208 97.6 % 11 Desoto Ranch DeSoto, TX 2003 248 97.6 % 12 Eagle Crossing Dallas, TX 2017 150 98.0 % 13 Falcon Lake Arlington, TX 2002 248 98.8 % 14 Heather Creek Mesquite, TX 2003 200 99.0 % 15 Lake Forest Humble, TX 2004 240 97.9 % 16 Lakeside Lofts Farmers Branch, TX 2020 494 96.4 % 17 Lodge at Pecan Creek Denton, TX 2011 192 97.9 % 18 Lofts at Reynolds Asheville, NC 2012 201 99.0 % 19 Mansions of Mansfield Mansfield, TX 2008 208 98.6 % 20 McKinney Point McKinney, TX 2017 198 98.5 % 21 Metropolitan Little Rock, AR 2008 260 93.8 % 22 Mission Oaks San Antonio, TX 2006 228 97.4 % 23 Northside on Travis Sherman, TX 2008 200 99.0 % 24 Oak Hollow Sequin, TX 2011 160 97.5 % 25 Oak Hollow Phase II Sequin, TX 2018 96 95.8 % 26 Oceanaire Biloxi, MS 2009 196 99.5 % 27 Overlook at Allensville Square Sevierville, TN 2012 144 97.9 % 28 Overlook at Allensville Phase II Sevierville, TN 2012 144 98.6 % 29 Parc at Bentonville Bentonville, AR 2017 216 96.3 % 30 Parc at Clarksville Clarksville, TN 2018 168 99.4 % 31 Parc at Denham Springs Denham Spring, LA 2007 224 96.0 % 32 Parc at Garland Garland, TX 2010 198 99.0 % 33 Parc at Mansfield Mansfield, TX 2017 99 100.0 % 34 Parc at Maumelle Little Rock, AR 2015 240 97.5 % 35 Parc at Metro Center Nashville, TN 2005 144 98.6 % 36 Parc at Rogers Rogers, AR 2006 250 97.6 % 14 Count Property Location Year Constructed Units Occupancy 37 Parc at Wylie Wylie, TX 2007 198 98.5 % 38 Preserve at Pecan Creek Denton, TX 2008 192 97.4 % 39 Preserve at Prairie Pointe Lubbock, TX 2005 184 96.7 % 40 Residences at Holland Lake Weatherford, TX 2004 208 97.6 % 41 Sawgrass Creek New Port Richey, FL 2018 188 99.5 % 42 Sonoma Court Rockwall, TX 2011 124 99.2 % 43 Sugar Mill Phase I Baton Rouge, LA 2009 160 83.1 % 44 Sugar Mill Phase II Baton Rouge, LA 2016 80 77.5 % 45 Tattersall Village Hinesville, GA 2010 222 96.8 % 46 Terra Lago Rowlett, TX 2018 451 97.6 % 47 Tradewinds Midland, TX 2015 214 84.6 % 48 Villas of Park West I Pueblo, CO 2005 148 97.3 % 49 Villas of Park West II Pueblo, CO 2010 112 99.1 % 50 Vistas of Vance Jackson San Antonio, TX 2005 240 97.5 % 51 Waterford At Summer Park Rosenberg, TX 2013 196 99.0 % 52 Windsong Fort Worth, TX 2003 188 97.3 % 10,281 61 Total Multifamily Properties 11,773 Residential Portfolio Composition The following table sets forth the location of and number of units as of December 31, 2021: Company owned VAA owned Total Location No. Units No. Units No. Units Alabama 1 200 1 168 2 368 Arkansas — — 5 1,122 5 1,122 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 — — 5 852 5 852 Texas 3 436 30 6,100 33 6,536 9 1,492 52 10,281 61 11,773 15 Commercial Properties Count Property Location Year Constructed Square Feet Occupancy Office Buildings 1 770 South Post Oak Houston, TX 1980 95,450 53.3 % 2 Browning Place Farmers Branch, TX 1982 625,297 73.0 % 3 Senlac Farmers Branch, TX 1971 2,812 100.0 % 4 Stanford Center Dallas, TX 1982 333,234 67.9 % 1,056,793 Retail Centers 5 Fruitland Park Fruitland Park, FL 1986 6,722 — % 5 1,063,515 Commercial Lease Expirations The following table summarizes our commercial lease expirations as of December 31, 2021: Year of Lease Expiration Rentable Square Feet Subject to Expiring Leases Current Annualized Contractual Rent Under Expiring Leases (1,000s)(1) Current Annualized Contractual Rent Under Expiring Leases (P.S.F.) Percentage of Total Square Feet Percentage of Gross Rentals 2022 225,945 $ 13,368 $ 59.15 21.3 % 23.0 % 2023 209,346 9,128 43.67 19.7 % 15.7 % 2024 51,645 5,613 107.94 4.9 % 9.6 % 2025 25,614 5,200 200.00 2.5 % 8.9 % 2026 7,157 4,912 701.71 0.7 % 8.4 % Thereafter 205,353 20,008 97.60 19.3 % 34.4 % 725,060 $ 58,229 100.0 % (1) 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 Athens Athens, AL 33 EQK Portage Kent, OH 49 McKinney 36 Collin County, TX 18 McKinney Heritage McKinney, TX 10 Ocean Estates Gulfport, MS 12 Willowick Pensacola, FL 40 Mercer Crossing Commercial Farmers Branch, TX 19 Windmills Farm Kaufman County, TX 1,223 Other Various 41 1,445 Held subject to sales contract Mercer Crossing Farmers Branch, TX 1 Windmill Farms Kaufman County, TX 440 441 1,886