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Investments in real estate (Tables)
 9 Months Ended
Sep. 30, 2024
Real Estate [Abstract]  
Schedule of Real Estate Properties Our consolidated investments in real estate, including real estate assets classified as held for sale as described in Note 15 –
“Assets classified as held for sale” to our unaudited consolidated financial statements, consisted of the following as of September 30,
2024 and December 31, 2023 (in thousands):
September 30, 2024
December 31, 2023
Rental properties:
Land (related to rental properties)
$4,267,297
$4,385,515
Buildings and building improvements
20,651,577
20,320,866
Other improvements
4,317,120
3,681,628
Rental properties
29,235,994
28,388,009
Development and redevelopment projects
9,340,425
8,226,309
Gross investments in real estate
38,576,419
36,614,318
Less: accumulated depreciation
(5,624,642)
(4,980,807)
Investments in real estate(1)
$32,951,777
$31,633,511
(1)Balances as of September 30, 2024 and December 31, 2023 include investments in real estate aggregating $228.4 million and $185.4 million, respectively, related to our
assets held for sale as of each respective date. Refer to Note 15 – “Assets held for sale” to our unaudited consolidated financial statements for additional details.
Real estate assets acquisitions Our real estate asset acquisitions during the nine months ended September 30, 2024 consisted of the following (dollars in
thousands):
Property
Submarket/Market
Date of
Purchase
Number of
Properties
Future
Development
Square Footage
Purchase
Price(1)
285, 299, 307, and 345 Dorchester Avenue(2)
Seaport Innovation District/
Greater Boston
1/30/24
—
1,040,000
$155,321
Other
46,490
$201,811
(1)Represents the aggregate contractual purchase price of our acquisitions, which differs from purchases of real estate in our unaudited consolidated statements of cash
flows due to the timing of payment, closing costs, and other acquisition adjustments such as prorations of rents and expenses.
(2)Refer to Note 4 – “Consolidated and unconsolidated real estate joint ventures” to our unaudited consolidated financial statements for additional details.
Real estate assets dispositions Our completed dispositions of real estate assets during the nine months ended September 30, 2024 consisted of the following
(dollars in thousands):
Property
Submarket/Market
Date of
Sale
Interest
Sold
RSF
Sales Price
Gain on Sales
of Real Estate
99 A Street
Seaport Innovation District/
Greater Boston
3/8/24
100%
235,000
$13,350
$—
1165 Eastlake Avenue East
Lake Union/Seattle
9/12/24
100%
100,086
149,985
21,535
219 East 42nd Street
New York City/New York City
7/9/24
100%
349,947
60,000
—
Other
15,374
5,971
$238,709
(1)
$27,506
(1)Represents the aggregate contractual sales price of our dispositions, which differs from proceeds from sales of real estate and contributions from and sales of
noncontrolling interests in our consolidated statements of cash flows under “Investing activities” and “Financing activities,” respectively, primarily due to the timing of
payment, closing costs, and other sales adjustments such as prorations of rents and expenses.