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Real Estate Disposition Activities
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Real Estate Disposition Activities Real Estate Disposition Activities
Details regarding the real estate sales, which resulted in a gain in accordance with GAAP of $363,300,000, excluding for-sale residential condominiums at The Park Loggia, are summarized in the following table (dollars in thousands):
Community nameLocationPeriod of saleApartment
homes		Gross
sales price		Net cash
proceeds		Commercial square feet
AVA BelltownSeattle, WAQ2 2024100 $34,000 $32,343 1,000 
AVA North Hollywood Los Angeles, CAQ2 2024156 62,100 57,215 11,000 
Avalon Hackensack at RiversideHackensack, NJQ2 2024226 85,600 83,878 — 
AVA Theater DistrictBoston, MAQ3 2024398 212,000 209,893 — 
Avalon DarienDarien, CTQ3 2024189 120,000 118,029 — 
Avalon New CanaanNew Canaan, CTQ4 2024104 75,000 74,113 — 
Avalon BerkeleyBerkeley, CAQ4 202494 32,000 31,033 — 
AVA BallardSeattle, WAQ4 2024265 105,500 100,115 12,000 
Other real estatemultiple2024N/A— 784 — 
Total of 2024 asset sales  1,532 $726,200 $707,403 24,000 
Total of 2023 asset sales  987 $446,000 $440,209 27,000 
Total of 2022 asset sales  2,062 $953,135 $934,117 — 

As of December 31, 2024, the Company had one real estate asset that qualified as held for sale.

The Park Loggia

The Park Loggia, located in New York, NY, contains 172 for-sale residential condominiums and 66,000 square feet of commercial space. The Company sold one, six and 40 residential condominiums at The Park Loggia, for gross proceeds of $4,166,000, $25,387,000 and $126,848,000 resulting in a loss in accordance with GAAP of $76,000 and $73,000 and gain in accordance with GAAP of $2,217,000 during the years ended December 31, 2024, 2023 and 2022, respectively. The Company incurred $30,000, $389,000 and $2,129,000 during the years ended December 31, 2024, 2023 and 2022, respectively, in marketing, operating and administrative costs. All amounts are included in other real estate activity on the accompanying Consolidated Statements of Comprehensive Income. As of December 31, 2024, there was one residential condominium remaining to be sold. As of December 31, 2024 and 2023, the unsold for-sale residential condominium at The Park Loggia had an aggregate carrying value of $2,743,000 and $6,603,000, respectively, presented in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets.