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Activity for Real Estate Investments and Accumulated Depreciation | 12 Months Ended
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Dec. 31, 2017
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,
| 2017 |  | 2016 |  | 2015
Real estate investments: |  |  |  |  |  |  |  |
Balance at beginning of year | $ | 12,972,170 |  |  | $ | 8,215,768 |  |  | $ | 8,069,395 |
Acquisitions (1) | 127,710 |  |  | 4,961,140 |  |  | 316,151 |
Less: FMV of leases included in acquisitions | (1,488 | ) |  | (51,588 | ) |  | (4,438 | )
Improvement and development | 322,829 |  |  | 202,614 |  |  | 165,000 |
Assets held for sale | (5,321 | ) |  | — |  |  | — |
Disposition of real estate assets (2) | (123,861 | ) |  | (355,764 | ) |  | (330,340 | )
Balance at end of year | $ | 13,292,039 |  |  | $ | 12,972,170 |  |  | $ | 8,215,768 |
Accumulated depreciation: |  |  |  |  |  |  |  |
Balance at beginning of year | $ | 1,674,801 |  |  | $ | 1,499,213 |  |  | $ | 1,373,678 |
Depreciation | 463,590 |  |  | 314,076 |  |  | 289,177 |
Assets held for sale | — |  |  | — |  |  | — |
Disposition of real estate assets (2) | (63,320 | ) |  | (138,488 | ) |  | (163,642 | )
Balance at end of year | $ | 2,075,071 |  |  | $ | 1,674,801 |  |  | $ | 1,499,213 |
(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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