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Note 3 - Investments in Real Estate | 6 Months Ended
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Jun. 30, 2026
Notes to Financial Statements |
Real Estate Disclosure [Text Block] | NOTE 3: Investments in Real Estate As of June 30, 2026, our investments in real estate consisted of 116 operating apartment properties, including one owned through a consolidated joint venture, that contain an aggregate of 33,898 units. The following table summarizes our investments in real estate except for two properties that we classified as held for sale as of June 30, 2026:
|  | As of June 30, 2026 |  |  | As of December 31, 2025 |  |  | Depreciable Lives (In years) |
Land |  | $ | 588,581 |  |  | $ | 573,777 |  |  |  | — |
Building |  |  | 5,577,785 |  |  |  | 5,450,891 |  |  |  | 40 |
Furniture, fixtures and equipment |  |  | 631,854 |  |  |  | 571,339 |  |  |  | 5 - 10 |
Total investments in real estate |  | $ | 6,798,220 |  |  | $ | 6,596,007 |  |  |  |  |
Accumulated depreciation |  |  | (1,029,116 | ) |  |  | (915,247 | ) |  |  |  |
Investments in real estate, net |  | $ | 5,769,104 |  |  | $ | 5,680,760 |  |  |  |  |
The following table summarizes our properties held for sale as of June 30, 2026:
Property |  | Market |  | Units |  |  | Carrying Value |
Bella Terra at City Center |  | Denver, CO |  |  | 304 |  |  | $ | 49,828 |
Stonebridge Crossing |  | Memphis, TN |  |  | 500 |  |  |  | 27,928 |
|  |  |  |  | 804 |  |  | $ | 77,756 |
Acquisitions The following table summarizes our asset acquisition for the six months ended June 30, 2026:
Property |  | Date Acquired |  | Market |  | Units |  |  | Purchase Price |
The Retreat at Canal |  | 1/15/2026 |  | Columbus, OH |  |  | 140 |  |  | $ | 29,500 |
The following table summarizes the relative fair value of the assets and liabilities associated with acquisitions during the six months ended June 30, 2026, on the date of acquisition accounted for under FASB ASC Topic 805-50-15-3.
|  | Fair Value of Assets and Liabilities Acquired During the |
|  | Six Months Ended |
|  | June 30, 2026 |
Assets acquired: |  |  |  |
Investments in real estate |  | $ | 28,923 |
Other assets |  |  | 16 |
Intangible assets |  |  | 753 |
Total assets acquired |  |  | 29,692 |
Liabilities assumed: |  |  |  |
Accounts payable and accrued expenses |  |  | 281 |
Other liabilities |  |  | 19 |
Total liabilities assumed |  |  | 300 |
Estimated fair value of net assets acquired |  | $ | 29,392 |
Dispositions There were no asset dispositions for the six months ended June 30, 2026.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 + Details
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