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Activity for Real Estate Investments and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2015
SEC Schedule III, 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,
 
2015
 
2014
 
2013
Real estate investments:
 

 
 

 
 

Balance at beginning of year
$
8,069,395

 
$
7,722,181

 
$
3,729,706

Acquisitions (1)
316,151

 
407,889

 
4,032,957

Less:  FMV of Leases included in Acquisitions
(4,438
)
 
(4,968
)
 
(51,728
)
Improvement and development
165,000

 
186,043

 
130,824

Assets held for sale
—

 
—

 
(4,897
)
Disposition of real estate assets (2)
(330,340
)
 
(241,750
)
 
(114,681
)
Balance at end of year
$
8,215,768

 
$
8,069,395

 
$
7,722,181

 
 
 
 
 
 
Accumulated depreciation:
 

 
 

 
 

Balance at beginning of year
$
1,373,678

 
$
1,138,315

 
$
1,040,473

Depreciation
289,177

 
276,991

 
165,885

Assets held for sale
—

 
—

 
(6,164
)
Disposition of real estate assets (2)
(163,642
)
 
(41,628
)
 
(61,879
)
Balance at end of year
$
1,499,213

 
$
1,373,678

 
$
1,138,315

 
MAA's consolidated balance sheet at December 31, 2015, 2014, and 2013, includes accumulated depreciation of $16,845,000, $15,279,000, and $14,108,000, respectively, in the caption "Corporate properties, net".

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