Investment in Real Estate (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed in the acquisitions for the years ended December 31, 2016, 2015, and 2014 which we determined using Level-2 inputs for mortgage notes payable and other liabilities and Level-3 inputs for assets (amounts in thousands):



	December 31,
	2016		2015		2014
Assets acquired
Land	$	60,489	$	8,985	$	66,390
Buildings and other depreciable property	55,445		13,948		52,329
Manufactured homes	67		345		1,086
In-place leases	4,447		622		2,561
Net investment in real estate	$	120,448	$	23,900	$	122,366
Other assets	20		53		1,197
Total assets acquired	$	120,468	$	23,953	$	123,563
Liabilities assumed
Mortgage notes payable	$	22,010	$	—	$	34,559
Other liabilities	2,214		266		6,712
Total liabilities assumed	$	24,224	$	266	$	41,271
Net assets acquired	$	96,244	$	23,687	$	82,292