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Real Estate (Tables) | 6 Months Ended
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Jun. 30, 2024
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, 2024 and December 31, 2023 (amounts in thousands):
|  | June 30, 2024 |  |  | December 31, 2023 |
Land |  | $ | 5,540,352 |  |  | $ | 5,581,876 |
Depreciable property: |  |  |  |  |  |
Buildings and improvements |  |  | 19,789,495 |  |  |  | 19,809,432 |
Furniture, fixtures and equipment |  |  | 2,698,109 |  |  |  | 2,609,600 |
In-Place lease intangibles |  |  | 516,773 |  |  |  | 519,394 |
Projects under development: |  |  |  |  |  |
Land |  |  | 40,049 |  |  |  | 3,201 |
Construction-in-progress |  |  | 148,234 |  |  |  | 74,835 |
Land held for development: |  |  |  |  |  |
Land |  |  | 46,160 |  |  |  | 82,026 |
Construction-in-progress |  |  | 18,621 |  |  |  | 32,274 |
Investment in real estate |  |  | 28,797,793 |  |  |  | 28,712,638 |
Accumulated depreciation |  |  | (10,163,756 | ) |  |  | (9,810,337 | )
Investment in real estate, net |  | $ | 18,634,037 |  |  | $ | 18,902,301 |
During the six months ended June 30, 2024, 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 |  |  |  | 160 |  |  | $ | 62,595 |  |  | $ | 6,593 |  |  | $ | 56,077 |
(1) Purchase price allocation includes capitalized closing costs.
Acquired Properties From Unaffiliated Parties | During the six months ended June 30, 2024, 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 |  |  |  | 160 |  |  | $ | 62,595 |  |  | $ | 6,593 |  |  | $ | 56,077 |
(1) Purchase price allocation includes capitalized closing costs.
Disposed Properties to Unaffiliated Parties | During the six months ended June 30, 2024, 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 |  |  | 5 |  |  |  | 831 |  |  | $ | 334,000 |  |  | $ | 227,994 |

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- Definition Discloses properties and associated units that the Company purchased from unaffiliated parties as well as purchase price. + References No definition available. + Details
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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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- References No definition available. + Details
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