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Activity for Real Estate Investments and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2013
Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Summary and rollforward of real estate investments and accumulated depreciation
Mid-America Apartment Communities, Inc.
Mid-America Apartments, L.P.
Schedule III
Real Estate Investments and Accumulated Depreciation
A summary of activity for real estate investments and accumulated depreciation is as follows (dollars in thousands):


 
Year Ended December 31,
 
2013
 
2012
 
2011
Real estate investments:
 

 
 

 
 

Balance at beginning of year
$
3,729,706

 
$
3,379,929

 
$
2,941,261

Acquisitions (1)
3,999,895

 
344,869

 
362,745

Less:  FMV of Leases included in Acquisitions
(51,728
)
 
(3,144
)
 
(3,829
)
Improvement and development
130,824

 
134,118

 
104,705

Assets held for sale
(4,897
)
 
—

 
—

Disposition of real estate assets (2)
(114,681
)
 
(126,066
)
 
(24,953
)
Balance at end of year
$
7,689,119

 
$
3,729,706

 
$
3,379,929

 
 
 
 
 
 
Accumulated depreciation:
 

 
 

 
 

Balance at beginning of year
$
1,040,473

 
$
973,126

 
$
873,903

Depreciation
165,885

 
124,691

 
112,726

Assets held for sale
(6,164
)
 
—

 
—

Disposition of real estate assets (2)
(61,879
)
 
(57,344
)
 
(13,503
)
Balance at end of year
$
1,138,315

 
$
1,040,473

 
$
973,126

 
MAA's consolidated balance sheet at December 31, 2013, 2012, and 2011, includes accumulated depreciation of $14,108,000, $12,855,000, and $11,402,000, respectively, in the caption "Corporate properties, net".

(1) Includes non-cash activity related to the Colonial merger.
(2) Includes assets sold, casualty losses, and removal of certain fully depreciated assets.