v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Buildings and improvements $ 6,199,528 $ 6,501,386
Land 1,235,873 1,297,106
Total real estate 7,435,401 7,798,492
Accumulated depreciation (2,417,569) (2,503,088)
Net real estate 5,017,832 5,295,404
Cash and cash equivalents 427,913 616,452
Restricted cash 24,235 28,007
Investment in unconsolidated real estate partnerships 333,307 341,357
Goodwill 32,286 32,286
Other assets, net 247,408 262,036
Total assets 6,082,981 6,575,542
LIABILITIES AND PARTNERS’ DEFICIT    
Non-recourse property debt, net 5,905,287 6,241,869
Accrued liabilities and other 310,944 309,137
Total liabilities 6,216,231 6,551,006
Commitments and contingencies (Note 7)
Redeemable preferred units 56,710 56,827
Partners’ deficit:    
General Partner and Special Limited Partner (236,174) (61,484)
Limited Partners 121,346 126,848
Partners’ capital attributable to the AIR Operating Partnership (114,828) 65,364
Noncontrolling interests in consolidated real estate partnerships (75,132) (97,655)
Total partners’ deficit (189,960) (32,291)
Total liabilities, redeemable preferred units, and partners’ deficit $ 6,082,981 $ 6,575,542