Significant Transactions (Tables)

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Summarized information regarding acquisitions

Summarized information regarding these acquisitions is set forth in the table below (dollars in thousands):

	2018
Number of apartment communities	6
Number of apartment homes	1,480
Purchase price (1)	$	483,066
Capitalized transaction costs	7,591
Total fair value allocated to land	69,177
Total fair value allocated to building and improvements	424,718
Total fair value allocated to intangible assets	9,700
Total fair value allocated to intangible liabilities	12,938

(1) The gross purchase price of the Philadelphia portfolio consisted of $34.4 million in cash, $208.9 million of assumed property-level debt and the issuance of 1.2 million OP Units. In accordance with GAAP, the OP Units were valued at $41.08 per unit, the closing price of Aimco’s common share on May 1, 2018, the purchase date.

Summarized information regarding apartment communities sold

In addition to the Hunters Point apartment communities, we sold the following apartment communities from our Real Estate portfolio during the years ended December 31, 2018, 2017 and 2016 (dollars in thousands):

	2018		2017		2016
Real Estate portfolio:
Apartment communities sold	4		5		7
Apartment homes sold	1,334		2,291		3,045
Gain on dispositions of real estate	$	175,213	$	297,730	$	383,647