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Acquisitions and Dispositions
3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
Acquisitions [Text Block]
5. Acquisitions and Dispositions
Acquisition of Land. During the three months ended March 31, 2022, we acquired approximately 15.9 acres of land in Richmond, Texas for approximately $7.8 million for future development purposes. We did not acquire any land during the three months ended March 31, 2021.
In April 2022, we acquired two parcels of land of approximately 42.6 acres in Charlotte, North Carolina for an aggregate of $32.7 million for future development purposes.
Asset Acquisition of Operating Properties. On April 1, 2022, we acquired the remaining limited partnership interests in two discretionary investment Funds which own 22 multifamily communities with 7,247 apartment homes for cash consideration of approximately $1.1 billion. See Note 6, "Investments in Joint Ventures" for a further discussion on this transaction.
Sale of Operating Property. During the three months ended March 31, 2022, we sold one operating property comprised of 245 apartment homes located in Largo, Maryland for approximately $71.9 million and recognized a gain of approximately $36.4 million.