Real Estate (Tables)

3 Months Ended

Mar. 31, 2024

Real Estate [Abstract]

Summary of Carrying Amounts of Investment in Real Estate

The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of March 31, 2024 and December 31, 2023 (amounts in thousands):

	March 31, 2024			December 31, 2023
Land	$	5,550,882		$	5,581,876
Depreciable property:
Buildings and improvements		19,763,823			19,809,432
Furniture, fixtures and equipment		2,648,670			2,609,600
In-Place lease intangibles		517,543			519,394
Projects under development:
Land		39,833			3,201
Construction-in-progress		115,896			74,835
Land held for development:
Land		46,160			82,026
Construction-in-progress		18,306			32,274
Investment in real estate		28,701,113			28,712,638
Accumulated depreciation		(9,978,012	)		(9,810,337	)
Investment in real estate, net	$	18,723,101		$	18,902,301

Disposed Properties to Unaffiliated Parties

During the quarter ended March 31, 2024, the Company disposed of the following to unaffiliated parties (sales price and net gain in thousands):

	Properties		Apartment Units		Sales Price		Net Gain
Rental Properties – Consolidated		3		504	$	248,500	$	188,185
Total		3		504	$	248,500	$	188,185