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Real Estate (Tables) | 9 Months Ended
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Sep. 30, 2021
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, 2021 and December 31, 2020 (amounts in thousands):
|  | September 30, 2021 |  |  | December 31, 2020 |
Land |  | $ | 5,779,686 |  |  | $ | 5,785,367 |
Depreciable property: |  |  |  |  |  |  |  |
Buildings and improvements |  |  | 19,211,662 |  |  |  | 18,464,484 |
Furniture, fixtures and equipment |  |  | 2,125,441 |  |  |  | 1,970,033 |
In-Place lease intangibles |  |  | 503,241 |  |  |  | 486,137 |
Projects under development: |  |  |  |  |  |  |  |
Land |  |  | 4,121 |  |  |  | 23,531 |
Construction-in-progress |  |  | 159,538 |  |  |  | 387,603 |
Land held for development: |  |  |  |  |  |  |  |
Land |  |  | 46,160 |  |  |  | 46,160 |
Construction-in-progress |  |  | 35,866 |  |  |  | 40,010 |
Investment in real estate |  |  | 27,865,715 |  |  |  | 27,203,325 |
Accumulated depreciation |  |  | (8,260,846 | ) |  |  | (7,859,657 | )
Investment in real estate, net |  | $ | 19,604,869 |  |  | $ | 19,343,668 |
Acquired Properties From Unaffiliated Parties | During the nine months ended September 30, 2021, the Company acquired the following from unaffiliated parties (purchase price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Purchase Price |
Rental Properties – Consolidated (1) |  |  | 11 |  |  |  | 2,921 |  |  | $ | 1,020,425 |
Total |  |  | 11 |  |  |  | 2,921 |  |  | $ | 1,020,425 |
(1) | Purchase price includes an allocation of approximately $134.2 million to land and $888.1 million to depreciable property (inclusive of capitalized closing costs).
Disposed Properties to Unaffiliated Parties | During the nine months ended September 30, 2021, the Company disposed of the following to unaffiliated parties (sales price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Sales Price |
Rental Properties – Consolidated |  |  | 10 |  |  |  | 1,842 |  |  | $ | 1,021,800 |
Total |  |  | 10 |  |  |  | 1,842 |  |  | $ | 1,021,800 |

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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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