Significant Transactions (Tables)

6 Months Ended

Jun. 30, 2021

Apartment Community [Member] | Pembroke Pines, Florida [Member]

Business Acquisition [Line Items]

Schedule of Acquisition

Summarized information regarding this acquisition is set forth in the table below (dollars in thousands):

Number of apartment homes		700
Purchase price	$	222,650
Capitalized transaction costs (1)		2,876
Total consideration	$	225,526
Consideration allocated to land	$	35,184
Consideration allocated to building and improvements		186,823
Consideration allocated to intangible assets (2)		3,644
Consideration allocated to below-market lease liabilities (3)		(125	)
Total consideration	$	225,526

(1)Capitalized transaction costs include a broker fee of $2.3 million paid to Aimco.

(2)Intangible assets include in-place leases and leasing costs with a weighted-average term of less than one year.

(3)Below-market leases have a weighted-average term of less than one year.