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Investments in Real Estate (Tables)

9 Months Ended

Sep. 30, 2022

Real Estate [Abstract]

Summary of Investments in Real Estate

The following table summarizes our investments in real estate:

			As of September 30, 2022						As of December 31, 2021						Depreciable Lives (In years)
Land			$	581,698					$	567,507					—
Building			5,728,487						5,622,492						40
Furniture, fixtures and equipment			323,902						272,356						5-10
Total investments in real estate			$	6,634,087					$	6,462,355
Accumulated depreciation			(379,171)						(243,475)
Investments in real estate, net			$	6,254,916					$	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						$	36,545					400
Sycamore Terrace - Terre Haute, IN						45,633						250
Totals						$	82,178					650

Asset Acquisition

The following table summarizes the relative fair value of the assets and liabilities associated with acquisitions during the nine months ended September 30, 2022, on the date of acquisition accounted for under FASB ASC Topic 805-50-15-3.

						Fair Value of Assets Acquired During the Nine Months Ended September 30, 2022
Assets acquired:
Investments in real estate						$	201,611
Other assets						229
Intangible assets						1,136
Total assets acquired						202,976
Liabilities assumed:
Accounts payable and accrued expenses						872
Other liabilities						327
Total liabilities assumed						1,199
Estimated fair value of net assets acquired						$	201,777

Summary of Disposition of Property

The following table summarizes our dispositions for the nine months ended September 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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