Condensed Consolidated Balance Sheets OP - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Buildings and improvements	$ 6,428,478	$ 6,324,857
Land	1,297,414	1,285,710
Total real estate	7,725,892	7,610,567
Accumulated depreciation	(2,319,064)	(2,245,589)
Net real estate	5,406,828	5,364,978
Cash and cash equivalents	87,795	91,401
Restricted cash	26,942	26,090
Investment in unconsolidated real estate partnerships	324,876	336,077
Goodwill	32,286	32,286
Other assets, net	319,579	283,920
Total assets	6,198,306	6,134,752
LIABILITIES AND EQUITY
Non-recourse property debt, net	2,217,191	2,223,791
Term loans, net	473,915	473,701
Revolving credit facility borrowings	260,000	115,000
Unsecured notes payable, net	397,943	397,852
Total indebtedness	3,349,049	3,210,344
Accrued liabilities and other	303,442	296,894
Total liabilities	3,652,491	3,507,238
Commitments and Contingencies
Preferred noncontrolling interests in AIR Operating Partnership	77,140	77,140
Equity:
Noncontrolling interests in consolidated real estate partnerships	(89,261)	(85,973)
Total equity	2,468,675	2,550,374
Total liabilities, preferred noncontrolling interests in AIR Operating Partnership, and equity	6,198,306	6,134,752
Apartment Income REIT, L.P.
ASSETS
Buildings and improvements	6,428,478	6,324,857
Land	1,297,414	1,285,710
Total real estate	7,725,892	7,610,567
Accumulated depreciation	(2,319,064)	(2,245,589)
Net real estate	5,406,828	5,364,978
Cash and cash equivalents	87,795	91,401
Restricted cash	26,942	26,090
Investment in unconsolidated real estate partnerships	324,876	336,077
Goodwill	32,286	32,286
Other assets, net	319,579	283,920
Total assets	6,198,306	6,134,752
LIABILITIES AND EQUITY
Non-recourse property debt, net	2,217,191	2,223,791
Term loans, net	473,915	473,701
Revolving credit facility borrowings	260,000	115,000
Unsecured notes payable, net	397,943	397,852
Total indebtedness	3,349,049	3,210,344
Accrued liabilities and other	303,442	296,894
Total liabilities	3,652,491	3,507,238
Commitments and Contingencies
Preferred noncontrolling interests in AIR Operating Partnership	77,140	77,140
Equity:
Preferred units	2,000	2,000
General Partner and Special Limited Partner	2,277,237	2,349,896
Limited Partners	278,699	284,451
Partners’ capital attributable to the AIR Operating Partnership	2,557,936	2,636,347
Noncontrolling interests in consolidated real estate partnerships	(89,261)	(85,973)
Total equity	2,468,675	2,550,374
Total liabilities, preferred noncontrolling interests in AIR Operating Partnership, and equity	$ 6,198,306	$ 6,134,752