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Real Estate Acquisition and Disposition | 9 Months Ended
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Sep. 30, 2022
Real Estate [Abstract] |
Real Estate Acquisitions and Dispositions | 12. Real Estate Acquisitions and Dispositions During the nine months ended September 30, 2022, the Company acquired a 196-unit multifamily apartment community located in the Tampa, Florida market for approximately $73 million and a 344-unit multifamily apartment community located in the Charlotte, North Carolina market for approximately $140 million. The following table reflects the Company’s acquisition activity for the nine months ended September 30, 2022:
Multifamily Acquisitions |  | Market |  | Units |  | Date Acquired
MAA Hampton Preserve II |  | Tampa, FL |  | 196 |  | July 2022
MAA LoSo |  | Charlotte, NC |  | 344 |  | September 2022
Land Acquisitions |  | Market |  | Acres |  | Date Acquired
MAA Florida Street Station |  | Denver, CO |  | 4 |  | March 2022
MAA Packing District |  | Orlando, FL |  | 4 |  | May 2022
MAA Panorama |  | Denver, CO |  | 6 |  | July 2022
During the nine months ended September 30, 2022, the Company closed on two dispositions in the Fort Worth, Texas market and received combined gross proceeds of approximately $167 million and recognized a combined gain on the sale of depreciable real estate assets of approximately $132 million. The following table reflects the Company’s disposition activity for the nine months ended September 30, 2022:
Multifamily Dispositions |  | Market |  | Units |  | Date Sold
MAA Deer Run |  | Fort Worth, TX |  | 304 |  | June 2022
MAA Oakbend |  | Fort Worth, TX |  | 426 |  | June 2022
Land Dispositions |  | Market |  | Acres |  | Date Sold
Colonial Promenade |  | Huntsville, AL |  | 2 |  | April 2022
Colonial Promenade |  | Huntsville, AL |  | 3 |  | August 2022
As of September 30, 2022, a 396-unit multifamily apartment community located in Maryland was classified as held for sale. The criteria for classifying the community as held for sale were met during September 2022, and the property remained in our portfolio as of September 30, 2022. As a result, the assets and liabilities associated with the community were presented as “Assets held for sale” in the accompanying Condensed Consolidated Balance Sheets as of September 30, 2022. Subsequent to the September 30, 2022 balance sheet date, but prior to the filing date of this Quarterly Report on Form 10-Q, the Company closed on the disposition of the community and received gross proceeds of approximately $104 million, resulting in an expected gain on the sale of depreciable real estate assets of approximately $37 million that will be recorded in the fourth quarter of 2022.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI https://asc.fasb.org/topic&trid=2303972 + Details
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