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Activity for Real Estate Investments and Accumulated Depreciation | 12 Months Ended
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Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] |
Summary and rollforward of real estate investments and accumulated depreciation |
Mid-America Apartment Communities, Inc.
Mid-America Apartments, L.P.
Schedule III
Real Estate Investments and Accumulated Depreciation
A summary of activity for real estate investments and accumulated depreciation is as follows (dollars in thousands):
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
Real estate investments: |  |  |  |  |  |  |  |
Balance at beginning of year | $ | 8,215,768 |  |  | $ | 8,069,395 |  |  | $ | 7,722,181 |
Acquisitions (1) | 4,961,140 |  |  | 316,151 |  |  | 407,889 |
Less: FMV of Leases included in Acquisitions | (51,588 | ) |  | (4,438 | ) |  | (4,968 | )
Improvement and development | 202,614 |  |  | 165,000 |  |  | 186,043 |
Assets held for sale | — |  |  | — |  |  | — |
Disposition of real estate assets (2) | (355,764 | ) |  | (330,340 | ) |  | (241,750 | )
Balance at end of year | $ | 12,972,170 |  |  | $ | 8,215,768 |  |  | $ | 8,069,395 |
Accumulated depreciation: |  |  |  |  |  |  |  |
Balance at beginning of year | $ | 1,499,213 |  |  | $ | 1,373,678 |  |  | $ | 1,138,315 |
Depreciation | 314,076 |  |  | 289,177 |  |  | 276,991 |
Assets held for sale | — |  |  | — |  |  | — |
Disposition of real estate assets (2) | (138,488 | ) |  | (163,642 | ) |  | (41,628 | )
Balance at end of year | $ | 1,674,801 |  |  | $ | 1,499,213 |  |  | $ | 1,373,678 |
MAA's consolidated balance sheet at December 31, 2016, 2015, and 2014, includes accumulated depreciation of $18,730,000, $16,845,000, and $15,279,000, respectively, in the caption "Corporate properties, net". (1) Includes non-cash activity related to acquisitions. (2) Includes assets sold, casualty losses, and removal of certain fully depreciated assets.

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