Investment in Real Estate (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed in the acquisitions for the years ended December 31, 2017, 2016, and 2015 which we determined using Level-2 inputs for mortgage notes payable and other liabilities and Level-3 inputs for assets (amounts in thousands):



	December 31,
	2017		2016		2015
Assets acquired
Land	$	57,278	$	60,489	$	8,985
Buildings and other depreciable property	85,096		55,445		13,948
Manufactured homes	—		67		345
In-place leases	—		4,447		622
Net investment in real estate	$	142,374	$	120,448	$	23,900
Other assets	—		20		53
Total assets acquired	$	142,374	$	120,468	$	23,953
Liabilities assumed
Mortgage notes payable	$	5,900	$	22,010	$	—
Other liabilities	32		2,214		266
Total liabilities assumed	$	5,932	$	24,224	$	266
Net assets acquired	$	136,442	$	96,244	$	23,687