Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021, 2020 and 2019, 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)	2021		2020		2019
Assets acquired
Land	$	343,614	$	150,909	$	116,575
Buildings and other depreciable property	265,182		87,749		125,721
Intangible	33,250		—		—
In-place leases (a)	22,135		6,821		5,519
Goodwill	9,586		—		—
Manufactured homes (a)	610		2,621		1,382
Net investment in real estate	$	674,377	$	248,100	$	249,197
Other assets	5,376		153		1,646
Total assets acquired	$	679,753	$	248,253	$	250,843
Liabilities assumed
Mortgage notes payable	$	39,986	$	6,873	$	19,212
Below-market lease liability (b)	8,169		—		—
Other liabilities	17,929		2,313		10,431
Total liabilities assumed	$	66,084	$	9,186	$	29,643
Net assets acquired	$	613,669	$	239,067	$	221,200

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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.