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Real Estate Acquisition and Disposition | 9 Months Ended
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Sep. 30, 2023
Real Estate [Abstract] |
Real Estate Acquisitions and Dispositions | 12. Real Estate Acquisition and Disposition During the nine months ended September 30, 2023, the Company acquired a six-acre land parcel in the Orlando, Florida market for approximately $12 million. During the nine months ended September 30, 2023, the Company closed on the disposition of 21 acres of land in the Gulf Shores, Alabama market for gross proceeds of approximately $3 million, resulting in the recognition of a negligible gain on the sale of non-depreciable real estate assets. In October 2023, MAALP closed on the acquisition of a 323-unit multifamily apartment community located in the Phoenix, Arizona market for approximately $102 million.

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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 -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//805/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent + Details
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- References No definition available. + Details
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