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Investments in Real Estate (Tables)

6 Months Ended

Jun. 30, 2022

Real Estate [Abstract]

Summary of Investments in Real Estate

The following table summarizes our investments consolidated in real estate:

			As of June 30, 2022						As of December 31, 2021						Depreciable Lives (In years)
Land			$	561,107					$	567,507					—
Building			5,571,949						5,622,492						40
Furniture, fixtures and equipment			295,426						272,356						5-10
Total investments in real estate			$	6,428,482					$	6,462,355
Accumulated depreciation			(329,903)						(243,475)
Investments in real estate, net			$	6,098,579					$	6,218,880

Summary of Held for Sale Property

The table below summarizes our held for sale properties.

Property Name						Net carrying value						Units (unaudited)
Meadows Apartments - Louisville, KY						$	36,285					400
Sycamore Terrace - Terra Haute, IN						45,533						250
Totals						$	81,818					650

Asset Acquisition

The following table summarizes the relative fair value of the assets and liabilities associated with the acquisition of the Views of Music City (phase I), acquired during the six month period ended June 30, 2022, on the date of acquisition accounted for under FASB ASC Topic 805-50-15-3.

						Fair Value of Assets Acquired During the Six Months Ended June 30, 2022
Assets acquired:
Investments in real estate						$	24,481
Intangible assets						37
Total assets acquired						24,518
Liabilities assumed:
Accounts payable and accrued expenses						7
Other liabilities						53
Total liabilities assumed						60
Estimated fair value of net assets acquired						$	24,458

Summary of Disposition of Property

The following table summarizes our dispositions for the six months ended June 30, 2022:

Property Name						Date of Sale						Sale Price						Gain on sale
Riverchase						01/18/2022						$	31,000					$	12,901
Heritage Park						02/02/2022						48,500						31,366
Raindance						02/02/2022						47,500						33,748
Haverford						02/02/2022						31,050						16,697
Total												$	158,050					$	94,712

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