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Investments in Real Estate

3 Months Ended

Mar. 31, 2023

Real Estate [Abstract]

Investments in Real Estate

NOTE 3: Investments in Real Estate

As of March 31, 2023, our investments in real estate consisted of 119 apartment properties (unaudited) that contain 35,249 units (unaudited). The following table summarizes our investments in real estate:

			As of March 31, 2023						As of December 31, 2022						Depreciable Lives (In years)
Land			$	579,094					$	579,094					—
Building			5,697,855						5,695,711						40
Furniture, fixtures and equipment			371,958						340,438						5-10
Total investments in real estate			$	6,648,907					$	6,615,243
Accumulated depreciation			(475,001)						(425,034)
Investments in real estate, net			$	6,173,906					$	6,190,209

Dispositions

On February 28, 2023, we sold Eagle Lake Landing apartments located in Indianapolis, Indiana for $37,300 and recognized a gain on sale of $985.

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- References

No definition available.

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- Definition

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 45
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124259787&loc=d3e4437-111522

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