Schedule III: Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III: Real Estate and Accumulated Depreciation

APARTMENT INCOME REIT CORP.

APARTMENT INCOME REIT, L.P.

SCHEDULE III: REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2022

(In Thousands Except Apartment Home Data)

											(2)		As of December 31, 2022
		(1)					Initial Cost				Cost Capitalized								(4)
	Apartment	Date		Year	Apartment				Buildings and		Subsequent to				Buildings and		(3)		Accumulated			Total Cost		(5)
Apartment Community Name	Type	Consolidated	Location	Built	Homes		Land		Improvements		Consolidation		Land		Improvements		Total		Depreciation (AD)			Net of AD		Encumbrances
Same Store Sales:
21 Fitzsimons	Mid Rise	Aug 2014	Aurora, CO	2008		601	$	12,864	$	104,720	$	37,521	$	12,864	$	142,241	$	155,105	$	(47,685	)	$	107,420	$	83,827
3400 Avenue of the Arts	Mid Rise	Mar 2002	Costa Mesa, CA	1987		770		57,241		65,506		100,235		57,241		165,741		222,982		(110,355	)		112,627		—
777 South Broad Street	Mid Rise	May 2018	Philadelphia, PA	2010		146		6,986		67,512		4,746		6,986		72,258		79,244		(13,004	)		66,240		37,500
Avery Row	Mid Rise	Dec 2018	Arlington, VA	2013		67		8,165		21,348		2,582		8,165		23,930		32,095		(4,264	)		27,831		—
Axiom	Mid Rise	Apr 2015	Cambridge, MA	2015		115		—		63,612		4,184		—		67,796		67,796		(18,932	)		48,864		—
Bay Parc	High Rise	Sep 2004	Miami, FL	2000		474		22,680		41,847		56,222		22,680		98,069		120,749		(39,207	)		81,542		71,726
Boston Lofts	High Rise	Apr 2001	Denver, CO	1890		158		3,446		20,589		7,014		3,446		27,603		31,049		(16,719	)		14,330		—
Boulder Creek	Garden	Jul 1994	Boulder, CO	1973		221		754		7,730		19,727		754		27,457		28,211		(21,128	)		7,083		—
Broadcast Center	Garden	Mar 2002	Los Angeles, CA	1990		279		29,407		41,244		41,554		29,407		82,798		112,205		(42,283	)		69,922		—
Calhoun Beach Club	High Rise	Dec 1998	Minneapolis, MN	1928		332		11,708		73,334		62,742		11,708		136,076		147,784		(98,116	)		49,668		—
Charlesbank Apartment Homes	Mid Rise	Sep 2013	Watertown, MA	2012		44		3,399		11,726		1,347		3,399		13,073		16,472		(4,495	)		11,977		—
Chestnut Hall	High Rise	Oct 2006	Philadelphia, PA	1923		315		12,338		14,299		15,262		12,338		29,561		41,899		(15,760	)		26,139		33,195
Creekside	Garden	Jan 2000	Denver, CO	1974		328		3,189		12,698		8,773		3,189		21,471		24,660		(15,579	)		9,081		—
Flamingo Point, Center Tower	High Rise	Sep 1997	Miami Beach, FL	2003		513		15,279		29,358		226,522		15,279		255,880		271,159		(131,717	)		139,442		—
Flamingo Point, South Tower (6)	High Rise	Sep 1997	Miami Beach, FL	1960		256		—		13,061		74,208		—		87,269		87,269		(18,235	)		69,034		—
Four Quarters Habitat	Garden	Jan 2006	Miami, FL	1976		336		2,379		17,199		40,466		2,379		57,665		60,044		(44,859	)		15,185		—
Foxchase	Garden	Dec 1997	Alexandria, VA	1940		2,113		15,496		96,062		89,239		15,496		185,301		200,797		(116,237	)		84,560		—
Hidden Cove	Garden	Jul 1998	Escondido, CA	1983		334		3,043		17,616		18,343		3,043		35,959		39,002		(20,935	)		18,067		64,757
Hidden Cove II	Garden	Jul 2007	Escondido, CA	1986		118		12,849		6,530		6,337		12,849		12,867		25,716		(7,383	)		18,333		25,183
Hillcreste	Garden	Mar 2002	Los Angeles, CA	1989		315		35,862		47,216		24,118		35,862		71,334		107,196		(37,357	)		69,839		—
Indian Oaks	Garden	Mar 2002	Simi Valley, CA	1986		254		24,523		15,801		12,877		24,523		28,678		53,201		(20,041	)		33,160		58,955
Indigo	High Rise	Aug 2016	Redwood City, CA	2016		463		26,932		296,116		11,426		26,932		307,542		334,474		(69,079	)		265,395		175,459
Island Club	Garden	Oct 2000	Oceanside, CA	1986		592		18,027		28,654		39,520		18,027		68,174		86,201		(41,884	)		44,317		—
Latrobe	High Rise	Jan 2003	Washington, D.C.	1980		175		3,459		9,103		13,374		3,459		22,477		25,936		(16,965	)		8,971		—
Laurel Crossing	Garden	Jan 2006	San Mateo, CA	1971		418		49,474		17,756		17,574		49,474		35,330		84,804		(20,793	)		64,011		—
Lincoln Place (7)	Garden	Oct 2004	Venice, CA	1951		795		128,332		10,439		257,698		44,197		352,272		396,469		(182,175	)		214,294		173,676
Locust on the Park	High Rise	May 2018	Philadelphia, PA	1911		151		5,292		53,823		9,831		5,292		63,654		68,946		(11,937	)		57,009		33,442
Malibu Canyon	Garden	Mar 2002	Calabasas, CA	1986		698		69,834		53,438		43,872		69,834		97,310		167,144		(66,921	)		100,223		158,950
Mariners Cove	Garden	Mar 2002	San Diego, CA	1984		500		—		66,861		18,288		—		85,149		85,149		(50,561	)		34,588		—
Meadow Creek	Garden	Jul 1994	Boulder, CO	1968		332		1,435		24,533		10,561		1,435		35,094		36,529		(25,615	)		10,914		—
Mezzo	High Rise	Mar 2015	Atlanta, GA	2008		95		4,292		34,178		2,699		4,292		36,877		41,169		(10,730	)		30,439		—
Monterey Grove	Garden	Jun 2008	San Jose, CA	1999		224		34,325		21,939		19,146		34,325		41,085		75,410		(18,659	)		56,751		46,630
Ocean House on Prospect	Mid Rise	Apr 2013	La Jolla, CA	1970		53		12,528		18,805		16,979		12,528		35,784		48,312		(13,885	)		34,427		—
One Ardmore	Mid Rise	Apr 2019	Ardmore, PA	2019		110		4,929		61,631		3,698		4,929		65,329		70,258		(8,902	)		61,356		29,175
One Canal	High Rise	Sep 2013	Boston, MA	2016		310		—		15,873		183,644		—		199,517		199,517		(52,273	)		147,244		—
Pacific Bay Vistas (7)	Garden	Mar 2001	San Bruno, CA	1987		308		28,694		62,460		34,481		23,354		102,281		125,635		(48,697	)		76,938		98,127
Pacifica Park	Garden	Jul 2006	Pacifica, CA	1977		104		12,970		6,579		9,171		12,970		15,750		28,720		(9,703	)		19,017		37,264
Palazzo at Park La Brea, The	Mid Rise	Feb 2004	Los Angeles, CA	2002		521		48,362		125,464		59,730		48,362		185,194		233,556		(105,338	)		128,218		209,689
Palazzo East at Park La Brea, The	Mid Rise	Mar 2005	Los Angeles, CA	2005		611		72,578		136,503		40,036		72,578		176,539		249,117		(101,739	)		147,378		179,147
Parc Mosaic	Garden	Dec 2014	Boulder, CO	1970		226		15,300		—		111,135		15,300		111,135		126,435		(18,741	)		107,694		—

											(2)			As of December 31, 2022
		(1)					Initial Cost				Cost Capitalized									(4)
	Apartment	Date		Year	Apartment				Buildings and		Subsequent to					Buildings and		(3)		Accumulated			Total Cost		(5)
Apartment Community Name	Type	Consolidated	Location	Built	Homes		Land		Improvements		Consolidation			Land		Improvements		Total		Depreciation (AD)			Net of AD		Encumbrances
Park Towne Place	High Rise	Apr 2000	Philadelphia, PA	1959		941	$	10,472	$	47,301	$	353,314		$	10,472	$	400,615	$	411,087	$	(230,094	)	$	180,993	$	—
Peachtree Park	Garden	Jan 1996	Atlanta, GA	1969	303			4,684		11,713		16,466			4,684		28,179		32,863		(19,235	)		13,628		—
Preserve at Marin	Mid Rise	Aug 2011	Corte Madera, CA	1964	126			13,516		30,132		84,137			13,516		114,269		127,785		(46,845	)		80,940		—
Riverloft	High Rise	Oct 1999	Philadelphia, PA	1910	184			2,120		11,286		38,851			2,120		50,137		52,257		(32,457	)		19,800		—
Royal Crest Estates	Garden	Aug 2002	North Andover, MA	1970	588			51,292		36,808		29,078			51,292		65,886		117,178		(43,339	)		73,839		—
Saybrook Pointe	Garden	Dec 2014	San Jose, CA	1995	324			32,842		84,457		27,092			32,842		111,549		144,391		(33,326	)		111,065		107,347
SouthStar Lofts	High Rise	May 2018	Philadelphia, PA	2014	85			1,780		37,428		1,245			1,780		38,673		40,453		(6,730	)		33,723		17,000
Sterling Apartment Homes, The	Garden	Oct 1999	Philadelphia, PA	1961	534			8,871		55,365		119,946			8,871		175,311		184,182		(115,551	)		68,631		—
The Left Bank	Mid Rise	May 2018	Philadelphia, PA	1929	282			—		130,893		25,492			—		156,385		156,385		(27,357	)		129,028		75,466
Township Residences	Town Home	Nov 1996	Centennial, CO	1985	161			1,536		9,773		17,202			1,536		26,975		28,511		(17,161	)		11,350		—
Tremont	Mid Rise	Dec 2014	Atlanta, GA	2009	78			5,274		18,011		4,168			5,274		22,179		27,453		(6,846	)		20,607		—
Villas at Park La Brea, The	Garden	Mar 2002	Los Angeles, CA	2002	250			8,630		48,871		22,003			8,630		70,874		79,504		(43,013	)		36,491		—
Villas of Pasadena	Mid Rise	Jan 2006	Pasadena, CA	1973	92			9,693		6,818		5,685			9,693		12,503		22,196		(7,415	)		14,781		20,500
Vivo	High Rise	Jun 2016	Cambridge, MA	2015	91			6,450		35,974		6,372			6,450		42,346		48,796		(17,972	)		30,824		—
Waterways Village	Garden	Jun 1997	Aventura, FL	1994	180			4,504		11,064		19,210			4,504		30,274		34,778		(18,807	)		15,971		—
Total Same Store Sales						18,994	$	980,035	$	2,409,057	$	2,527,143		$	890,560	$	5,025,675	$	5,916,235	$	(2,385,036	)	$	3,531,199	$	1,737,015
Other Real Estate:
234 East 88th Street	Mid Rise	Jan 2014	New York, NY	1900		20		2,448		4,449		897			2,448		5,346		7,794		(2,043	)		5,751		—
236-238 East 88th Street	High Rise	Jan 2004	New York, NY	1900	42			8,820		2,914		23,438			8,820		26,352		35,172		(2,435	)		32,737		—
240 West 73rd Street (7)	High Rise	Sep 2004	New York, NY	1900	195			68,109		12,140		(29,093	)		20,828		30,328		51,156		(12,002	)		39,154		—
707 Leahy	Garden	Sep 2022	Redwood City, CA	1973	110			20,956		62,605		—			20,956		62,605		83,561		(697	)		82,864		—
City Center on 7th	Garden	Jun 2021	Pembroke Pines, FL	2014	700			35,196		186,823		19,172			35,196		205,995		241,191		(12,320	)		228,871		—
Flamingo Point, North Tower	High Rise	Sep 2022	Miami Beach, FL	1960	366			91,529		290,682		324			91,529		291,006		382,535		(3,115	)		379,420		—
Huntington Gateway	High Rise	Oct 2021	Alexandria, VA	1990	443			38,785		83,832		9,515			38,785		93,347		132,132		(4,823	)		127,309		93,510
North Park	High Rise	Oct 2021	Chevy Chase, MD	1973	310			42,900		68,090		7,359			42,900		75,449		118,349		(3,451	)		114,898		75,626
Prism	Mid Rise	Sep 2022	Cambridge, MA	2019	136			13,768		74,541		—			13,768		74,541		88,309		(826	)		87,483		—
Residences at Capital Crescent Trail	High Rise	Oct 2021	Bethesda, MD	2002	258			15,975		84,167		4,368			15,975		88,535		104,510		(4,045	)		100,465		—
The District at Flagler Village	High Rise	Jul 2022	Fort Lauderdale, FL	2021	350			14,472		156,718		434			14,472		157,152		171,624		(2,734	)		168,890		—
The Fremont	Mid Rise	Sep 2022	Aurora, CO	2020	253			7,218		92,621		—			7,218		92,621		99,839		(1,064	)		98,775		—
The Reserve at Coconut Point	Garden	May 2022	Estero, FL	2022	180			5,162		66,593		(794	)		5,162		65,799		70,961		(1,767	)		69,194		—
Vaughan Place (6)	High Rise	Oct 2021	Washington, D.C.	1988	375			47,276		122,092		7,912			47,276		130,004		177,280		(6,272	)		171,008		88,500
Watermarc at Biscayne Bay	High Rise	Jun 2022	Miami, FL	2021	296			34,710		174,237		839			34,710		175,076		209,786		(3,604	)		206,182		—
Willard Towers	High Rise	Jun 2022	Chevy Chase, MD	1969	525			334		179,141		1,492			334		180,633		180,967		(3,646	)		177,321		—
Other (8)								4,863		—		130			492		4,501		4,993		(3	)		4,990		—
Total Other Real Estate						4,559	$	452,521	$	1,661,645	$	45,993		$	400,869	$	1,759,290	$	2,160,159	$	(64,847	)	$	2,095,312	$	257,636
Total Portfolio						23,553	$	1,432,556	$	4,070,702	$	2,573,136		$	1,291,429	$	6,784,965	$	8,076,394	$	(2,449,883	)	$	5,626,511	$	1,994,651

(1)Date we acquired the apartment community or first consolidated the partnership that owns the community.

(2)Includes costs capitalized since acquisition or date of initial consolidation of the community.

(3)The aggregate cost of land and depreciable property for federal income tax purposes was approximately $7.4 billion as of December 31, 2022.

(4)Depreciable life for buildings and improvements ranges from 5 to 30 years and is calculated on a straight-line basis.

(5)Encumbrances are presented before reduction for debt issuance costs.

(6)Initial cost of buildings and improvements includes the cost of additional apartment homes acquired subsequent to consolidation.

(7)The current carrying value of the apartment community reflects an impairment loss recognized.

(8)Other includes apartment communities under development, land parcels, and certain non-residential properties held for future development.

APARTMENT INCOME REIT CORP.

APARTMENT INCOME REIT, L.P.

SCHEDULE III: REAL ESTATE AND ACCUMULATED DEPRECIATION

For the Years Ended December 31, 2022, 2021, and 2020

(In Thousands)

	2022		2021		2020
Total real estate balance at beginning of year	$	6,885,081	$	7,468,864	$	7,351,979
Additions during the year:
Acquisitions and lease cancellation		1,300,122		723,599		6,062
Capital additions		193,360		168,920		329,156
Amounts related to assets held for sale		—		(253,547)		—
Dispositions and other		(302,169)		(1,222,755)		(218,333)
Total real estate balance at end of year	$	8,076,394	$	6,885,081	$	7,468,864
Accumulated depreciation balance at beginning of year	$	2,284,793	$	2,455,505	$	2,268,839
Depreciation		308,382		298,789		310,400
Amounts related to assets held for sale		—		(107,055)		—
Dispositions and other		(143,292)		(362,446)		(123,734)
Accumulated depreciation balance at end of year	$	2,449,883	$	2,284,793	$	2,455,505