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Real Estate | 3 Months Ended
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Mar. 31, 2025
Real Estate [Abstract] |
Real Estate | 4. Real Estate The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of March 31, 2025 and December 31, 2024 (amounts in thousands):
|  | March 31, 2025 |  |  | December 31, 2024 |
Land |  | $ | 5,572,591 |  |  | $ | 5,606,531 |
Depreciable property: |  |  |  |  |  |
Buildings and improvements |  |  | 20,719,045 |  |  |  | 20,635,583 |
Furniture, fixtures and equipment |  |  | 2,878,231 |  |  |  | 2,840,691 |
In-Place lease intangibles |  |  | 561,325 |  |  |  | 563,138 |
Projects under development: |  |  |  |  |  |
Land |  |  | 36,786 |  |  |  | 40,034 |
Construction-in-progress |  |  | 107,920 |  |  |  | 221,672 |
Land held for development: |  |  |  |  |  |
Land |  |  | 42,538 |  |  |  | 46,160 |
Construction-in-progress |  |  | 17,234 |  |  |  | 16,982 |
Investment in real estate |  |  | 29,935,670 |  |  |  | 29,970,791 |
Accumulated depreciation |  |  | (10,611,129 | ) |  |  | (10,412,463 | )
Investment in real estate, net |  | $ | 19,324,541 |  |  | $ | 19,558,328 |
During the quarter ended March 31, 2025, the Company disposed of the following to unaffiliated parties (sales price and net gain (loss) in thousands):
|  | Properties |  |  | Apartment Units |  |  | Sales Price |  |  | Net Gain (Loss) |
Rental Properties – Consolidated |  |  | 2 |  |  |  | 546 |  |  | $ | 225,600 |  |  | $ | 154,152 |
Land Parcel (one) – Consolidated |  |  | — |  |  |  | — |  |  |  | 4,300 |  |  |  | (67 | )
Total |  |  | 2 |  |  |  | 546 |  |  | $ | 229,900 |  |  | $ | 154,085 |

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent + Details
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