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Real Estate (Tables) | 12 Months Ended
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Dec. 31, 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 December 31, 2021 and 2020 (amounts in thousands):
|  | 2021 |  |  | 2020 |
Land |  | $ | 5,814,790 |  |  | $ | 5,785,367 |
Depreciable property: |  |  |  |  |  |  |  |
Buildings and improvements |  |  | 19,632,284 |  |  |  | 18,464,484 |
Furniture, fixtures and equipment |  |  | 2,220,203 |  |  |  | 1,970,033 |
In-Place lease intangibles |  |  | 518,324 |  |  |  | 486,137 |
Projects under development: |  |  |  |  |  |  |  |
Land |  |  | — |  |  |  | 23,531 |
Construction-in-progress |  |  | 24,307 |  |  |  | 387,603 |
Land held for development: |  |  |  |  |  |  |  |
Land |  |  | 46,160 |  |  |  | 46,160 |
Construction-in-progress |  |  | 16,838 |  |  |  | 40,010 |
Investment in real estate |  |  | 28,272,906 |  |  |  | 27,203,325 |
Accumulated depreciation |  |  | (8,354,282 | ) |  |  | (7,859,657 | )
Investment in real estate, net |  | $ | 19,918,624 |  |  | $ | 19,343,668 |
Acquired Properties From Unaffiliated Parties | During the year ended December 31, 2021, the Company acquired the following from unaffiliated parties (purchase price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Purchase Price |
Rental Properties – Consolidated (1) |  |  | 17 |  |  |  | 4,747 |  |  | $ | 1,709,379 |
Total |  |  | 17 |  |  |  | 4,747 |  |  | $ | 1,709,379 |
(1) | Purchase price includes an allocation of approximately $226.3 million to land and $1.5 billion to depreciable property (inclusive of capitalized closing costs).
During the year ended December 31, 2020, the Company acquired the following from unaffiliated parties (purchase price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Purchase Price |
Rental Properties – Consolidated (1) |  |  | 1 |  |  |  | 158 |  |  | $ | 48,860 |
Total |  |  | 1 |  |  |  | 158 |  |  | $ | 48,860 |
(1) | Purchase price includes an allocation of approximately $5.5 million to land and $43.4 million to depreciable property (inclusive of capitalized closing costs).
Disposed Properties to Unaffiliated Parties | During the year ended December 31, 2021, the Company disposed of the following to unaffiliated parties (sales price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Sales Price |
Rental Properties – Consolidated |  |  | 14 |  |  |  | 3,053 |  |  | $ | 1,716,775 |
Total |  |  | 14 |  |  |  | 3,053 |  |  | $ | 1,716,775 |
During the year ended December 31, 2020, the Company disposed of the following to unaffiliated parties (sales price in thousands):
|  | Properties |  |  | Apartment Units |  |  | Sales Price |
Rental Properties – Consolidated |  |  | 6 |  |  |  | 2,231 |  |  | $ | 1,066,861 |
Land Parcels (two) |  |  | — |  |  |  | — |  |  |  | 55,510 |
Total |  |  | 6 |  |  |  | 2,231 |  |  | $ | 1,122,371 |

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