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Real Estate (Tables) | 3 Months Ended
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Mar. 31, 2017
Real Estate [Abstract] |
Summary of Carrying Amounts of Investment in Real Estate | The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of March 31, 2017 and December 31, 2016 (amounts in thousands):
|  | March 31, 2017 |  |  | December 31, 2016 |
Land |  | $ | 5,902,186 |  |  | $ | 5,899,862 |
Depreciable property: |  |  |  |  |  |  |  |
Buildings and improvements |  |  | 16,952,975 |  |  |  | 16,913,430 |
Furniture, fixtures and equipment |  |  | 1,374,730 |  |  |  | 1,346,300 |
In-Place lease intangibles |  |  | 470,849 |  |  |  | 470,849 |
Projects under development: |  |  |  |  |  |  |  |
Land |  |  | 111,540 |  |  |  | 115,876 |
Construction-in-progress |  |  | 554,688 |  |  |  | 521,292 |
Land held for development: |  |  |  |  |  |  |  |
Land |  |  | 73,840 |  |  |  | 84,440 |
Construction-in-progress |  |  | 35,296 |  |  |  | 34,376 |
Investment in real estate |  |  | 25,476,104 |  |  |  | 25,386,425 |
Accumulated depreciation |  |  | (5,526,586 | ) |  |  | (5,360,389 | )
Investment in real estate, net |  | $ | 19,949,518 |  |  | $ | 20,026,036 |
Summary of Carrying Amounts of Above and Below Market Ground And Retail Lease Intangibles | The following table summarizes the carrying amounts for the Company's above and below market ground and retail lease intangibles as of March 31, 2017 and December 31, 2016 (amounts in thousands):
Description |  | Balance Sheet Location |  | March 31, 2017 |  |  | December 31, 2016 |
Assets |  |  |  |  |  |  |  |  |  |
Ground lease intangibles – below market |  | Other Assets |  | $ | 178,251 |  |  | $ | 178,251 |
Retail lease intangibles – above market |  | Other Assets |  |  | 1,260 |  |  |  | 1,260 |
Lease intangible assets |  |  |  |  | 179,511 |  |  |  | 179,511 |
Accumulated amortization |  |  |  |  | (19,091 | ) |  |  | (17,972 | )
Lease intangible assets, net |  |  |  | $ | 160,420 |  |  | $ | 161,539 |
Liabilities |  |  |  |  |  |  |  |  |  |
Ground lease intangibles – above market |  | Other Liabilities |  | $ | 2,400 |  |  | $ | 2,400 |
Retail lease intangibles – below market |  | Other Liabilities |  |  | 5,270 |  |  |  | 5,270 |
Lease intangible liabilities |  |  |  |  | 7,670 |  |  |  | 7,670 |
Accumulated amortization |  |  |  |  | (4,772 | ) |  |  | (4,509 | )
Lease intangible liabilities, net |  |  |  | $ | 2,898 |  |  | $ | 3,161 |
Summary of Aggregate Amortization Expense for Above and Below Market Ground And Retail Lease Intangibles | The following table provides a summary of the aggregate amortization expense for above and below market ground lease intangibles and retail lease intangibles for each of the next five years (amounts in thousands):
|  | Remaining |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2017 |  |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |
Ground lease intangibles |  | $ | 3,241 |  |  | $ | 4,321 |  |  | $ | 4,321 |  |  | $ | 4,321 |  |  | $ | 4,321 |  |  | $ | 4,321 |
Retail lease intangibles |  |  | (316 | ) |  |  | (71 | ) |  |  | (71 | ) |  |  | (71 | ) |  |  | (71 | ) |  |  | (27 | )
Total |  | $ | 2,925 |  |  | $ | 4,250 |  |  | $ | 4,250 |  |  | $ | 4,250 |  |  | $ | 4,250 |  |  | $ | 4,294 |
Disposed Properties to Unaffiliated Parties | During the quarter ended March 31, 2017, the Company disposed of the following to unaffiliated parties (sales price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Sales Price |
Rental Properties – Consolidated |  |  | 1 |  |  |  | 304 |  |  | $ | 47,600 |
Land Parcels (one) |  |  | — |  |  |  | — |  |  |  | 33,450 |
Total |  |  | 1 |  |  |  | 304 |  |  | $ | 81,050 |

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- Definition Discloses properties and associated units that the Company disposed of to unaffiliated parties as well as sales price. Includes both rental properties and condominium conversion properties. + References No definition available. + Details
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- Definition Tabular disclosure of the cost of land, buildings and improvements, furniture and fixtures and accumulated depreciation in aggregate for all consolidated properties owned at the balance sheet date. + References No definition available. + Details
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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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