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Real Estate (Tables) | 6 Months Ended
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Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 (amounts in thousands):
|  | June 30, 2019 |  |  | December 31, 2018 |
Land |  | $ | 5,889,308 |  |  | $ | 5,875,803 |
Depreciable property: |  |  |  |  |  |  |  |
Buildings and improvements |  |  | 18,529,097 |  |  |  | 18,232,625 |
Furniture, fixtures and equipment |  |  | 1,813,243 |  |  |  | 1,722,231 |
In-Place lease intangibles |  |  | 481,713 |  |  |  | 481,045 |
Projects under development: |  |  |  |  |  |  |  |
Land |  |  | 25,429 |  |  |  | 25,429 |
Construction-in-progress |  |  | 146,440 |  |  |  | 83,980 |
Land held for development: |  |  |  |  |  |  |  |
Land |  |  | 74,187 |  |  |  | 61,038 |
Construction-in-progress |  |  | 36,358 |  |  |  | 28,871 |
Investment in real estate |  |  | 26,995,775 |  |  |  | 26,511,022 |
Accumulated depreciation |  |  | (7,026,622 | ) |  |  | (6,696,281 | )
Investment in real estate, net |  | $ | 19,969,153 |  |  | $ | 19,814,741 |
Acquired Properties From Unaffiliated Parties | During the six months ended June 30, 2019, the Company acquired the following from unaffiliated parties (purchase price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Purchase Price |
Rental Properties – Consolidated (1) |  |  | 6 |  |  |  | 1,644 |  |  | $ | 634,650 |
Land Parcels (one) (2) |  |  | — |  |  |  | — |  |  |  | 16,232 |
Total |  |  | 6 |  |  |  | 1,644 |  |  | $ | 650,882 |
(1) | Purchase price includes an allocation of approximately $88.1 million to land and $548.5 million to depreciable property (inclusive of capitalized closing costs).
(2) | Purchase price includes an allocation of approximately $13.1 million to vacant land and $3.4 million to construction-in-progress (inclusive of capitalized closing costs). See Note 6 for additional discussion.
Disposed Properties to Unaffiliated Parties | During the six months ended June 30, 2019, the Company disposed of the following to unaffiliated parties (sales price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Sales Price |
Rental Properties – Consolidated |  |  | 2 |  |  |  | 561 |  |  | $ | 402,750 |
Rental Properties – Unconsolidated (1) |  |  | 2 |  |  |  | 945 |  |  |  | 394,500 |
Total |  |  | 4 |  |  |  | 1,506 |  |  | $ | 797,250 |
(1) | The Company owned a 20% interest in both unconsolidated rental properties. Sales price listed is the gross sales price. The Company received net sales proceeds of approximately $78.3 million.

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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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