v3.25.1
Rental Properties
3 Months Ended
Mar. 31, 2025
Real Estate [Abstract]  
Rental Properties Real Estate Investments
The following table summarizes the carrying amounts of real estate investments as of March 31, 2025 and December 31, 2024 (in thousands):
March 31, 2025December 31, 2024
Buildings and improvements$4,599,164 $4,632,557 
Furniture, fixtures & equipment121,512 118,575 
Land1,200,584 1,218,418 
Leasehold interests28,453 28,453 
5,949,713 5,998,003 
Accumulated depreciation(1,595,820)(1,562,645)
Total$4,353,893 $4,435,358 
Depreciation expense on real estate investments was $40.1 million and $39.5 million for the three months ended March 31, 2025 and 2024, respectively.