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Investments in Real Estate (Tables) | 9 Months Ended
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Sep. 30, 2021
Real Estate [Abstract] |
Summary of Investments in Real Estate | The following table summarizes our investments in real estate:
|  | As of September 30, 2021 |  |  | As of December 31, 2020 |  |  | Depreciable Lives (In years) |
Land |  | $ | 238,221 |  |  | $ | 251,365 |  |  |  | — |
Building |  |  | 1,525,395 |  |  |  | 1,527,535 |  |  |  | 40 |
Furniture, fixtures and equipment |  |  | 141,144 |  |  |  | 137,870 |  |  | 5-10 |
Total investment in real estate |  | $ | 1,904,760 |  |  | $ | 1,916,770 |  |  |  |  |
Accumulated depreciation |  |  | (223,244 | ) |  |  | (208,618 | ) |  |  |  |
Investments in real estate, net |  | $ | 1,681,516 |  |  | $ | 1,708,152 |  |  |  |  |
Summary of Held for Sale Property | The table below summarizes our held for sale properties.
Property Name |  | Location |  | Units |  |  | Net Carrying Value |
Crestmont |  | Atlanta, GA |  | 228 |  |  | $ | 14,791 |
Creekside Corners |  | Atlanta, GA |  | 444 |  |  |  | 44,478 |
Riverchase |  | Indianapolis, IN |  | 216 |  |  |  | 17,672 |
Heritage Park |  | Oklahoma City, OK |  | 453 |  |  |  | 16,405 |
Raindance |  | Oklahoma City, OK |  | 504 |  |  |  | 13,163 |
Haverford Place |  | Louisville, KY |  | 160 |  |  |  | 13,900 |
Total |  |  |  |  | 2,005 |  |  | $ | 120,409 |
Summary of Fair Value of Assets and Liabilities | The following table summarizes the aggregate relative fair value of the assets and liabilities associated with the properties acquired during the nine-month period ended September 30, 2021, on the date of acquisition, accounted for under FASB ASC Topic 805-50-15-3.
Description |  | Fair Value of Assets Acquired During the Nine Months Ended September 30, 2021 |
Assets acquired: |  |  |  |
Investments in real estate (a) |  | $ | 139,336 |
Other assets |  |  | 33 |
Intangible assets |  |  | 757 |
Total assets acquired |  | $ | 140,126 |
Liabilities assumed: |  |  |  |
Accounts payable and accrued expenses |  | $ | 795 |
Other liabilities |  |  | 100 |
Total liabilities assumed |  |  | 895 |
Estimated fair value of net assets acquired |  | $ | 139,231 |
| (a) | Included $177 of property related acquisition costs capitalized during the nine months ended September 30, 2021.
Summary of Disposition of Property | Dispositions The following table summarizes the dispositions for the nine months ended September 30, 2021:
Property Name |  | Date of Sale |  | Sale Price |  |  | Gain on sale (1) |
Kings Landing |  | 07/28/2021 |  | $ | 40,100 |  |  | $ | 11,492 |
Total |  |  |  | $ | 40,100 |  |  | $ | 11,492 |
| (1) | The gain for this property is net of $295 of debt prepayment costs.

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
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