Investment in Real Estate (Tables)

12 Months Ended

Dec. 31, 2020

Real Estate [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of the assets acquired and liabilities assumed for the years ended December 31, 2020, 2019 and 2018, which we determined using Level-3 inputs for land and buildings and other depreciable property and Level-2 inputs for the others:

	Years Ended December 31,
(amounts in thousands)	2020		2019		2018
Assets acquired
Land	$	150,909	$	116,575	$	171,111
Buildings and other depreciable property	87,749		125,721		84,019
Manufactured homes (a)	2,621		1,382		140
In-place leases (a)	6,821		5,519		9,859
Net investment in real estate	$	248,100	$	249,197	$	265,129
Other assets	153		1,646		59
Total assets acquired	$	248,253	$	250,843	$	265,188
Liabilities assumed
Mortgage notes payable	$	6,873	$	19,212	$	9,200
Below-market lease liability (b)	—		—		10,645
Other liabilities	2,313		10,431		2,449
Total liabilities assumed	$	9,186	$	29,643	$	22,294
Net assets acquired	$	239,067	$	221,200	$	242,894

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(a)Manufactured homes and in-place leases are included in buildings and other depreciable property on the Consolidated Balance Sheets.

(b)Below-market lease liability is included in accounts payable and other liabilities on the Consolidated Balance Sheets.