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Significant Transactions - Summary of Lease Cancellation cost (Details)
$ in Thousands
Sep. 01, 2022
USD ($)
Unit
Sep. 30, 2022
Property
Dec. 31, 2021
Multi_family_apartment
Restructuring Cost and Reserve [Line Items]      
Number of apartment communities | Property   80  
Number of apartment homes | Multi_family_apartment     1,748
Apartment Community [Member] | Aimco [Member]      
Restructuring Cost and Reserve [Line Items]      
Number of apartment communities | Unit 4    
Number of apartment homes | Unit 865    
Payments to Acquire Land $ 133,471    
Consideration allocated to building and improvements 520,448    
Consideration allocated to intangible assets [1] 13,470    
Consideration allocated to below-market lease liabilities [1] (866)    
Total consideration [2] $ 666,523    
[1] Intangible assets and below-market lease liabilities have a weighted-average term of less than a year.
[2] Includes the leased real estate asset as of the cancellation date and the added improvement value payment.

Capital Allocation – Share Repurchases

During the three months ended September 30, 2022, AIR repurchased 1.2 million shares for $47 million, at an average price of $39.07 per share. Subsequent to quarter end and through November 2, 2022 we have purchased an additional 3.1 million shares for $115 million. In aggregate, we have repurchased 7.2 million shares during 2022 at an average price of $39.96. We are authorized by the AIR Board of Directors to repurchase an additional $213 million of shares. We consider share buybacks as part of a balanced investment program.