Real Estate (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Carrying Amounts of Investment in Real Estate

The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of March 31, 2020 and December 31, 2019 (amounts in thousands):

	March 31, 2020			December 31, 2019
Land	$	5,883,065		$	5,936,188
Depreciable property:
Buildings and improvements		18,759,542			18,904,686
Furniture, fixtures and equipment		1,941,353			1,916,458
In-Place lease intangibles		496,652			497,957
Projects under development:
Land		23,531			23,531
Construction-in-progress		202,222			158,099
Land held for development:
Land		64,460			64,460
Construction-in-progress		38,142			32,228
Investment in real estate		27,408,967			27,533,607
Accumulated depreciation		(7,420,293	)		(7,276,786	)
Investment in real estate, net	$	19,988,674		$	20,256,821

Disposed Properties to Unaffiliated Parties

During the quarter ended March 31, 2020, the Company disposed of the following to unaffiliated parties (sales price in thousands):

	Properties		Apartment Units		Sales Price
Rental Properties – Consolidated		3		897	$	370,200
Total		3		897	$	370,200