Rental Properties

6 Months Ended

Jun. 30, 2023

Real Estate [Abstract]

Rental Properties

Real Estate Investments

The following table summarizes the carrying amounts of real estate investments as of June 30, 2023 and December 31, 2022 (in thousands):

	June 30, 2023		December 31, 2022
Buildings and improvements	$	4,645,441	$	4,637,801
Furniture, fixtures & equipment	115,452		115,677
Land	1,240,122		1,236,358
Leasehold interests	28,453		26,940
	6,029,468		6,016,776
Accumulated depreciation	(1,369,790)		(1,302,640)
Total	$	4,659,678	$	4,714,136

Depreciation expense on real estate investments was $80.5 million and $78.4 million for the six months ended June 30, 2023 and 2022, respectively.