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Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2023 and 2022 (amounts in thousands):
|  |  | 2023 |  |  | 2022 |
Land |  |  | $ | 5,581,876 |  |  | $ | 5,580,878 |
Depreciable property: |  |  |  |  |  |  |
Buildings and improvements |  |  |  | 19,809,432 |  |  |  | 19,471,503 |
Furniture, fixtures and equipment |  |  |  | 2,609,600 |  |  |  | 2,352,050 |
In-Place lease intangibles |  |  |  | 519,394 |  |  |  | 510,816 |
Projects under development: |  |  |  |  |  |  |
Land |  |  |  | 3,201 |  |  |  | 3,201 |
Construction-in-progress |  |  |  | 74,835 |  |  |  | 109,739 |
Land held for development: |  |  |  |  |  |  |
Land |  |  |  | 82,026 |  |  |  | 46,160 |
Construction-in-progress |  |  |  | 32,274 |  |  |  | 14,407 |
Investment in real estate |  |  |  | 28,712,638 |  |  |  | 28,088,754 |
Accumulated depreciation |  |  |  | (9,810,337 | ) |  |  | (9,027,850 | )
Investment in real estate, net |  |  | $ | 18,902,301 |  |  | $ | 19,060,904 |
Acquired Properties From Unaffiliated Parties | During the year ended December 31, 2023, the Company acquired the following from unaffiliated parties (purchase price and purchase price allocation in thousands):
|  |  |  |  |  |  |  |  |  |  | Purchase Price Allocation (1), (2) |
|  | Properties |  |  | Apartment Units |  |  | Purchase Price (1) |  |  | Land |  |  | Depreciable Property |
Rental Properties – Consolidated |  |  | 4 |  |  |  | 1,183 |  |  | $ | 366,334 |  |  | $ | 41,142 |  |  | $ | 325,611 |
Total |  |  | 4 |  |  |  | 1,183 |  |  | $ | 366,334 |  |  | $ | 41,142 |  |  | $ | 325,611 |
(1) Purchase price and purchase price allocation are both net of a mark-to-market discount of approximately $11.2 million on a mortgage assumed in connection with the purchase of a property. (2) Purchase price allocation includes capitalized closing costs. During the year ended December 31, 2022, the Company acquired the following from unaffiliated parties (purchase price and purchase price allocation in thousands):
|  |  |  |  |  |  |  |  |  |  | Purchase Price Allocation (1) |
|  | Properties |  |  | Apartment Units |  |  | Purchase Price |  |  | Land |  |  | Depreciable Property |
Rental Properties – Consolidated |  |  | 1 |  |  |  | 172 |  |  | $ | 113,000 |  |  | $ | 25,361 |  |  | $ | 87,685 |
Total |  |  | 1 |  |  |  | 172 |  |  | $ | 113,000 |  |  | $ | 25,361 |  |  | $ | 87,685 |
(1) Purchase price allocation includes capitalized closing costs.
Disposed Properties to Unaffiliated Parties | During the year ended December 31, 2023, the Company disposed of the following to unaffiliated parties (sales price and net gain in thousands):
|  | Properties |  |  | Apartment Units |  |  | Sales Price |  |  | Net Gain |
Rental Properties – Consolidated |  |  | 11 |  |  |  | 912 |  |  | $ | 379,893 |  |  | $ | 282,539 |
Total |  |  | 11 |  |  |  | 912 |  |  | $ | 379,893 |  |  | $ | 282,539 |
During the year ended December 31, 2022, the Company disposed of the following to unaffiliated parties (sales price and net gain in thousands):
|  | Properties |  |  | Apartment Units |  |  | Sales Price |  |  | Net Gain |
Rental Properties – Consolidated |  |  | 3 |  |  |  | 945 |  |  | $ | 746,150 |  |  | $ | 304,325 |
Total |  |  | 3 |  |  |  | 945 |  |  | $ | 746,150 |  |  | $ | 304,325 |

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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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