Investment in Real Estate (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022, 2021 and 2020, 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)	2022		2021		2020
Assets acquired
Land	$	64,514	$	343,614	$	150,909
Buildings and other depreciable property	71,498		265,182		87,749
Intangible	—		33,250		—
In-place leases (a)	5,576		22,135		6,821
Goodwill	—		9,586		—
Manufactured homes (a)	—		610		2,621
Net investment in real estate	$	141,588	$	674,377	$	248,100
Other assets	772		5,376		153
Total assets acquired	$	142,360	$	679,753	$	248,253
Liabilities assumed
Mortgage notes payable	$	—	$	39,986	$	6,873
Below-market lease liability (b)	—		8,169		—
Other liabilities	2,347		17,929		2,313
Total liabilities assumed	$	2,347	$	66,084	$	9,186
Net assets acquired	$	140,013	$	613,669	$	239,067

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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.