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Real Estate (Tables) | 3 Months Ended
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Mar. 31, 2025
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 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 |
Disposed Properties to Unaffiliated Parties | 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 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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