| Real Estate |
The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of June 30, 2026 and December 31, 2025 (amounts in thousands):
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
December 31, 2025 |
|
Land |
|
$ |
5,516,087 |
|
|
$ |
5,563,407 |
|
Depreciable property: |
|
|
|
|
|
|
Buildings and improvements |
|
|
21,070,953 |
|
|
|
21,057,954 |
|
Furniture, fixtures and equipment |
|
|
3,171,152 |
|
|
|
3,074,470 |
|
In-Place lease intangibles |
|
|
565,999 |
|
|
|
573,116 |
|
Projects under development: |
|
|
|
|
|
|
Land |
|
|
22,419 |
|
|
|
19,278 |
|
Construction-in-progress |
|
|
35,893 |
|
|
|
81,283 |
|
Land held for development: |
|
|
|
|
|
|
Land |
|
|
42,538 |
|
|
|
64,856 |
|
Construction-in-progress |
|
|
15,780 |
|
|
|
21,485 |
|
Investment in real estate |
|
|
30,440,821 |
|
|
|
30,455,849 |
|
Accumulated depreciation |
|
|
(11,453,919 |
) |
|
|
(11,016,900 |
) |
Investment in real estate, net |
|
$ |
18,986,902 |
|
|
$ |
19,438,949 |
|
During the six months ended June 30, 2026, the Company disposed of the following to unaffiliated parties (sales price and net gain (loss) in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Properties |
|
|
Apartment Units |
|
|
Sales Price |
|
|
Net Gain (Loss) |
|
Rental Properties – Consolidated |
|
|
2 |
|
|
|
515 |
|
|
$ |
164,000 |
|
|
$ |
(16,776 |
) |
|