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Real Estate (Tables) | 9 Months Ended
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Sep. 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 September 30, 2019 and December 31, 2018 (amounts in thousands):
|  | September 30, 2019 |  |  | December 31, 2018 |
Land |  | $ | 5,955,121 |  |  | $ | 5,875,803 |
Depreciable property: |  |  |  |  |  |  |  |
Buildings and improvements |  |  | 18,796,370 |  |  |  | 18,232,625 |
Furniture, fixtures and equipment |  |  | 1,875,121 |  |  |  | 1,722,231 |
In-Place lease intangibles |  |  | 496,764 |  |  |  | 481,045 |
Projects under development: |  |  |  |  |  |  |  |
Land |  |  | 23,531 |  |  |  | 25,429 |
Construction-in-progress |  |  | 119,903 |  |  |  | 83,980 |
Land held for development: |  |  |  |  |  |  |  |
Land |  |  | 64,660 |  |  |  | 61,038 |
Construction-in-progress |  |  | 26,357 |  |  |  | 28,871 |
Investment in real estate |  |  | 27,357,827 |  |  |  | 26,511,022 |
Accumulated depreciation |  |  | (7,171,876 | ) |  |  | (6,696,281 | )
Investment in real estate, net |  | $ | 20,185,951 |  |  | $ | 19,814,741 |
Acquired Properties From Unaffiliated Parties | During the nine months ended September 30, 2019, the Company acquired the following from unaffiliated parties (purchase price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Purchase Price |
Rental Properties – Consolidated (1) |  |  | 10 |  |  |  | 2,728 |  |  | $ | 1,124,580 |
Land Parcels (three) (2) |  |  | — |  |  |  | — |  |  |  | 19,832 |
Total |  |  | 10 |  |  |  | 2,728 |  |  | $ | 1,144,412 |
(1) | Purchase price includes an allocation of approximately $193.4 million to land and $933.3 million to depreciable property (inclusive of capitalized closing costs).
(2) | Purchase price includes an allocation of approximately $16.7 million to vacant land and $3.8 million to construction-in-progress (inclusive of capitalized closing costs). Land parcels include entry into one long-term ground lease for a land project under development in the Washington D.C. market. See Notes 6 and 8 for additional discussion.
Disposed Properties to Unaffiliated Parties | During the nine months ended September 30, 2019, the Company disposed of the following to unaffiliated parties (sales price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Sales Price |
Rental Properties – Consolidated |  |  | 9 |  |  |  | 1,202 |  |  | $ | 706,675 |
Rental Properties – Unconsolidated (1) |  |  | 2 |  |  |  | 945 |  |  |  | 394,500 |
Land Parcels (one) |  |  | — |  |  |  | — |  |  |  | 1,900 |
Total |  |  | 11 |  |  |  | 2,147 |  |  | $ | 1,103,075 |
(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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