Cover Page
Cover Page - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Mar. 17, 2023 | Jun. 30, 2022 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2022 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Transition Report | false | ||
Entity File Number | 000-55931 | ||
Entity Registrant Name | Blackstone Real Estate Income Trust, Inc. | ||
Entity Incorporation, State or Country Code | MD | ||
Entity Tax Identification Number | 81-0696966 | ||
Entity Address, Address Line One | 345 Park Avenue | ||
Entity Address, City or Town | New York | ||
Entity Address, State or Province | NY | ||
Entity Address, Postal Zip Code | 10154 | ||
City Area Code | 212 | ||
Local Phone Number | 583-5000 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 0 | ||
Documents Incorporated by Reference | Part III of this annual report on Form 10-K incorporates information by reference from the registrant’s definitive proxy statement with respect to its 2022 annual meeting of stockholders to be filed with the Securities and Exchange Commission within 120 days after the close of the registrant’s fiscal year. | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2022 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0001662972 | ||
Class S | |||
Document Information [Line Items] | |||
Title of 12(g) Security | Class S Common Stock, $0.01 par value per share | ||
Entity Common Stock, Shares Outstanding | 1,587,734,005 | ||
Class I | |||
Document Information [Line Items] | |||
Title of 12(g) Security | Class I Common Stock, $0.01 par value per share | ||
Entity Common Stock, Shares Outstanding | 2,614,945,892 | ||
Class T | |||
Document Information [Line Items] | |||
Title of 12(g) Security | Class T Common Stock, $0.01 par value per share | ||
Entity Common Stock, Shares Outstanding | 71,491,191 | ||
Class D | |||
Document Information [Line Items] | |||
Title of 12(g) Security | Class D Common Stock, $0.01 par value per share | ||
Entity Common Stock, Shares Outstanding | 415,832,448 | ||
Class C Shares | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 1,100,707 |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2022 | |
Auditor Information [Abstract] | |
Auditor Firm ID | 34 |
Auditor Name | Deloitte & Touche LLP |
Auditor Location | New York, New York |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Investments in real estate, net | $ 98,149,492 | $ 66,941,653 |
Investments in unconsolidated entities (includes $4,947,251 and $1,613,646 at fair value as of December 31, 2022 and December 31, 2021, respectively) | 9,369,402 | 5,501,305 |
Investments in real estate debt | 8,001,703 | 6,970,606 |
Real estate loans held by consolidated securitization vehicles, at fair value | 17,030,387 | 17,055,986 |
Cash and cash equivalents | 1,281,292 | 989,674 |
Restricted cash | 973,200 | 2,428,907 |
Other assets | 7,881,948 | 6,450,733 |
Total assets | 142,687,424 | 106,338,864 |
Liabilities and Equity | ||
Mortgage notes, secured term loans, and secured revolving credit facilities, net | 64,962,703 | 41,327,388 |
Secured financings of investments in real estate debt | 4,966,685 | 4,706,632 |
Senior obligations of consolidated securitization vehicles, at fair value | 15,288,598 | 15,030,653 |
Unsecured revolving credit facilities and term loans | 1,126,923 | 0 |
Due to affiliates | 1,676,308 | 1,309,447 |
Other liabilities | 3,912,033 | 4,184,148 |
Total liabilities | 91,933,250 | 66,558,268 |
Commitments and contingencies | 0 | 0 |
Redeemable non-controlling interests | 553,423 | 750,670 |
Equity | ||
Additional paid-in capital | 53,212,494 | 42,249,094 |
Accumulated other comprehensive income (loss) | 393,928 | (9,569) |
Accumulated deficit and cumulative distributions | (9,196,019) | (5,631,014) |
Total stockholders’ equity | 44,455,264 | 36,645,403 |
Non-controlling interests attributable to third party joint ventures | 4,278,895 | 1,744,256 |
Non-controlling interests attributable to BREIT OP unitholders | 1,466,592 | 640,267 |
Total equity | 50,200,751 | 39,029,926 |
Total liabilities and equity | 142,687,424 | 106,338,864 |
Class S | ||
Equity | ||
Common stock value | 15,974 | 12,543 |
Class I | ||
Equity | ||
Common stock value | 23,947 | 20,865 |
Class T | ||
Equity | ||
Common stock value | 726 | 573 |
Class D | ||
Equity | ||
Common stock value | 4,214 | 2,911 |
Class C Shares | ||
Equity | ||
Common stock value | $ 0 | $ 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Investments in unconsolidated entities | $ 4,947,251 | $ 1,613,646 |
Common stock, shares outstanding (in shares) | 4,486,178,000 | 3,689,353,000 |
Class S | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 3,000,000,000 | 3,000,000,000 |
Common stock, shares issued (in shares) | 1,597,414,000 | 1,254,348,000 |
Common stock, shares outstanding (in shares) | 1,597,414,000 | 1,254,348,000 |
Class I | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 6,000,000,000 | 6,000,000,000 |
Common stock, shares issued (in shares) | 2,394,737,000 | 2,086,631,000 |
Common stock, shares outstanding (in shares) | 2,394,737,000 | 2,086,631,000 |
Class T | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (in shares) | 72,599,000 | 57,287,000 |
Common stock, shares outstanding (in shares) | 72,599,000 | 57,287,000 |
Class D | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (in shares) | 421,428,000 | 291,087,000 |
Common stock, shares outstanding (in shares) | 421,428,000 | 291,087,000 |
Class C Shares | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (in shares) | 0 | 0 |
Common stock, shares outstanding (in shares) | 0 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statements: | |||
Total revenues | $ 7,646,378 | $ 3,696,671 | $ 2,551,648 |
Expenses | |||
Operating expenses | 3,425,804 | 1,508,715 | 1,013,251 |
General and administrative | 52,652 | 32,046 | 25,653 |
Management fee | 837,687 | 445,291 | 224,776 |
Performance participation allocation | 742,670 | 1,378,959 | 192,648 |
Impairment of investments in real estate | 33,554 | 0 | 12,343 |
Depreciation and amortization | 4,098,366 | 1,919,932 | 1,362,151 |
Total expenses | 9,190,733 | 5,284,943 | 2,830,822 |
Other income (expense) | |||
Income from unconsolidated entities | 182,249 | 205,980 | 88,571 |
(Loss) income from investments in real estate debt | (27,073) | 391,867 | (74,353) |
Change in net assets of consolidated securitization vehicles | (42,119) | 106,240 | (46,564) |
Income from equity securities and interest rate derivatives | 1,967,549 | 894,544 | 65,908 |
Net gain on dispositions of real estate | 808,846 | 7,881 | 113,173 |
Interest expense | (2,325,204) | (834,852) | (712,383) |
Loss on extinguishment of debt | (11,476) | (16,331) | (10,356) |
Other expense | (88,725) | (3,221) | (12,224) |
Total other income (expense) | 464,047 | 752,108 | (588,228) |
Net loss | (1,080,308) | (836,164) | (867,402) |
Net loss attributable to non-controlling interests in third party joint ventures | 173,109 | 22,090 | 2,417 |
Net loss attributable to non-controlling interests in BREIT OP unit holders | 23,680 | 9,291 | 11,586 |
Net loss attributable to BREIT stockholders | $ (883,519) | $ (804,783) | $ (853,399) |
Net (loss) income per share of common stock — basic (in dollars per share) | $ (0.20) | $ (0.30) | $ (0.53) |
Net (loss) income per share of common stock — diluted (in dollars per share) | $ (0.20) | $ (0.30) | $ (0.53) |
Weighted-average shares of common stock outstanding, basic (in shares) | 4,334,100 | 2,645,228 | 1,598,175 |
Weighted-average shares of common stock outstanding, diluted (in shares) | 4,334,100 | 2,645,228 | 1,598,175 |
Rental revenue | |||
Income Statements: | |||
Total revenues | $ 6,564,119 | $ 3,140,528 | $ 2,235,872 |
Expenses | |||
Operating expenses | 2,916,936 | 1,192,571 | 751,779 |
Hospitality | |||
Income Statements: | |||
Total revenues | 721,654 | 412,338 | 248,909 |
Expenses | |||
Operating expenses | 508,868 | 316,144 | 261,472 |
Other revenue | |||
Income Statements: | |||
Total revenues | $ 360,605 | $ 143,805 | $ 66,867 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Other Comprehensive Income [Abstract] | |||
Net loss | $ (1,080,308) | $ (836,164) | $ (867,402) |
Other comprehensive income (loss): | |||
Foreign currency translation losses, net | (50,303) | (9,569) | 0 |
Unrealized gain on derivatives | 408,069 | 0 | 0 |
Unrealized gain on derivatives from unconsolidated entities | 149,286 | 0 | 0 |
Other comprehensive income (loss) | 507,052 | (9,569) | 0 |
Comprehensive loss | (573,256) | (845,733) | (867,402) |
Comprehensive loss attributable to non-controlling interests in third party joint ventures | 80,139 | 22,090 | 2,417 |
Comprehensive loss attributable to non-controlling interests in BREIT OP unit holders | 13,095 | 9,291 | 11,586 |
Comprehensive loss attributable to BREIT stockholders | $ (480,022) | $ (814,352) | $ (853,399) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Total | Total Stockholders’ Equity | Common Stock Class S | Common Stock Class I | Common Stock Class T | Common Stock Class D | Additional Paid-in Capital | Accumulated Other Comprehensive (Loss) Income | Accumulated Deficit and Cumulative Distributions | Non-controlling Interests Non- controlling Interests Attributable to BREIT OP Unitholders | Non-controlling Interests Non- controlling Interests Attributable to Third Party Joint Ventures |
Beginning Balance at Dec. 31, 2019 | $ 10,614,648 | $ 10,305,132 | $ 5,308 | $ 4,743 | $ 398 | $ 847 | $ 11,716,721 | $ 0 | $ (1,422,885) | $ 151,721 | $ 157,795 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common stock issued | 8,536,246 | 8,536,246 | 1,963 | 5,096 | 85 | 433 | 8,528,669 | ||||
Offering costs | (217,398) | (217,398) | (217,398) | ||||||||
Distribution reinvestment | 492,664 | 492,664 | 209 | 194 | 13 | 32 | 492,216 | 0 | |||
Common stock/units repurchased | (1,455,096) | (1,452,169) | (451) | (767) | (37) | (71) | (1,450,843) | (2,927) | |||
Amortization of compensation awards | 1,794 | 400 | 4 | 396 | 1,394 | ||||||
Net income (loss) | (865,796) | (853,399) | (853,399) | (11,572) | (825) | ||||||
Other comprehensive income | 0 | ||||||||||
Distributions declared on common stock | (948,034) | (948,034) | (948,034) | ||||||||
Contributions from non-controlling interests | 78,345 | 63,226 | 15,119 | ||||||||
Distributions to and redemptions of non-controlling interests | (44,652) | (1,946) | (1,946) | (13,870) | (28,836) | ||||||
Allocation to redeemable non-controlling interests | (8,770) | (8,770) | (8,770) | ||||||||
Ending Balance at Dec. 31, 2020 | 16,183,951 | 15,852,726 | 7,029 | 9,270 | 459 | 1,241 | 19,059,045 | 0 | (3,224,318) | 187,972 | 143,253 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common stock issued | 24,745,564 | 24,745,564 | 5,434 | 12,210 | 114 | 1,643 | 24,726,163 | ||||
Offering costs | (805,116) | (805,116) | (805,116) | ||||||||
Distribution reinvestment | 792,953 | 792,953 | 252 | 306 | 14 | 51 | 792,330 | ||||
Common stock/units repurchased | (1,424,641) | (1,421,597) | (172) | (927) | (14) | (24) | (1,420,460) | (2,915) | 129 | ||
Amortization of compensation awards | 14,948 | 580 | 6 | 574 | 14,368 | ||||||
Net income (loss) | (834,370) | (804,783) | (804,783) | (9,285) | (20,302) | ||||||
Other comprehensive income | (9,569) | (9,569) | (9,569) | ||||||||
Distributions declared on common stock | (1,601,913) | (1,601,913) | (1,601,913) | ||||||||
Contributions from non-controlling interests | 2,773,150 | 473,017 | 2,300,133 | ||||||||
Distributions to and redemptions of non-controlling interests | (701,589) | (22,890) | (678,699) | ||||||||
Allocation to redeemable non-controlling interests | (103,442) | (103,442) | (103,442) | ||||||||
Ending Balance at Dec. 31, 2021 | 39,029,926 | 36,645,403 | 12,543 | 20,865 | 573 | 2,911 | 42,249,094 | (9,569) | (5,631,014) | 640,267 | 1,744,256 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common stock issued | 20,650,326 | 20,650,326 | 3,894 | 8,301 | 169 | 1,456 | 20,636,506 | ||||
Offering costs | (621,874) | (621,874) | (621,874) | ||||||||
Distribution reinvestment | 1,386,808 | 1,386,808 | 320 | 511 | 16 | 87 | 1,385,874 | ||||
Common stock/units repurchased | (10,531,952) | (10,479,420) | (783) | (5,971) | (32) | (240) | (10,472,394) | (52,532) | |||
Amortization of compensation awards | 36,200 | 24,088 | 241 | 23,847 | 12,112 | ||||||
Net income (loss) | (1,073,706) | (883,519) | (883,519) | (19,170) | (171,017) | ||||||
Other Comprehensive Income (Loss), Net of Tax, Difference for Redeemable Noncontrolling Interest | 507,930 | ||||||||||
Other comprehensive income | 507,052 | 403,497 | 403,497 | 11,099 | 93,334 | ||||||
Distributions declared on common stock | (2,681,486) | (2,681,486) | (2,681,486) | ||||||||
Contributions from non-controlling interests | 3,871,903 | 949,722 | 2,922,181 | ||||||||
Distributions to and redemptions of non-controlling interests | (334,042) | 50,723 | 50,723 | (74,906) | (309,859) | ||||||
Allocation to redeemable non-controlling interests | (39,282) | (39,282) | (39,282) | ||||||||
Ending Balance at Dec. 31, 2022 | $ 50,200,751 | $ 44,455,264 | $ 15,974 | $ 23,947 | $ 726 | $ 4,214 | $ 53,212,494 | $ 393,928 | $ (9,196,019) | $ 1,466,592 | $ 4,278,895 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Stockholders' Equity [Abstract] | |||
Net loss allocated to redeemable non-controlling interest | $ (6,602) | $ (1,794) | $ (1,606) |
Distributions declared on common stock (in dollars per share) | $ 0.6685 | $ 0.6508 | $ 0.6354 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net loss | $ (1,080,308) | $ (836,164) | $ (867,402) |
Adjustments to reconcile net loss to net cash provided by operating activities: | |||
Management fee | 837,687 | 445,291 | 224,776 |
Performance participation allocation | 742,670 | 1,378,959 | 192,648 |
Impairment of investments in real estate | 33,554 | 0 | 12,343 |
Depreciation and amortization | 4,098,366 | 1,919,932 | 1,362,151 |
Net gain on dispositions of real estate | (808,846) | (7,881) | (113,173) |
Loss on extinguishment of debt | 11,476 | 16,331 | 10,356 |
Unrealized gain on changes in fair value of financial instruments | (923,641) | (1,035,763) | 241,554 |
Realized (gain) loss on sale of real estate-related equity securities | (350,003) | (16,271) | (14,988) |
Income from unconsolidated entities | (182,249) | (205,980) | (88,571) |
Distributions of earnings from unconsolidated entities | 249,902 | 112,517 | 80,663 |
Other items | 55,291 | (72,111) | (13,900) |
Change in assets and liabilities: | |||
(Increase) decrease in other assets | (431,250) | (347,998) | (72,005) |
Increase (decrease) in due to affiliates | 1,273 | 2,799 | 4,347 |
Increase (decrease) in other liabilities | 474,755 | 429,424 | 13,105 |
Net cash provided by operating activities | 2,728,677 | 1,783,085 | 971,904 |
Cash flows from investing activities: | |||
Acquisitions of real estate | (30,896,249) | (28,886,135) | (6,547,909) |
Capital improvements to real estate | (1,310,687) | (576,304) | (327,205) |
Proceeds from disposition of real estate | 2,918,715 | 267,045 | 434,880 |
Refunds of (pre-acquisition costs/deposits) | 100,163 | (152,220) | (11,692) |
Investment in unconsolidated entities | (3,848,722) | (5,236,968) | (808,312) |
Return of capital from unconsolidated entities | 24,103 | 45,761 | 0 |
Purchase of investments in real estate debt | (4,488,157) | (5,824,137) | (1,232,955) |
Proceeds from sale/repayment of investments in real estate debt | 2,487,955 | 1,509,472 | 983,229 |
Purchase of real estate-related equity securities | (1,045,329) | (1,795,353) | (718,771) |
Proceeds from sale of real estate-related equity securities | 3,269,889 | 0 | 179,904 |
Proceeds from paydowns of real estate loans held by consolidated securitization vehicles | 1,870,183 | 9,681 | 4,283 |
Proceeds from settlement of derivative contracts | 110,532 | 0 | 0 |
Collateral posted under derivative contracts | (42,462) | 0 | 0 |
Net cash used in investing activities | (30,850,066) | (40,639,158) | (8,044,548) |
Cash flows from financing activities: | |||
Proceeds from issuance of common stock | 17,466,749 | 23,024,165 | 7,513,895 |
Offering costs paid | (274,079) | (180,186) | (95,069) |
Subscriptions received in advance | 208,632 | 1,746,910 | 508,817 |
Repurchase of common stock | (10,429,274) | (1,082,105) | (1,200,517) |
Repurchase of management fee shares | 0 | (372,230) | (171,300) |
Borrowings under mortgage notes, secured term loans, and secured revolving credit facilities | 33,632,896 | 24,656,316 | 8,860,936 |
Repayments of mortgage notes, secured term loans, and secured revolving credit facilities | (14,136,372) | (8,676,134) | (6,834,346) |
Borrowings under secured financings of investments in real estate debt | 2,039,047 | 12,887,626 | 2,228,336 |
Repayments of secured financings of investments in real estate debt | (1,742,354) | (10,296,189) | (3,209,683) |
Borrowings under affiliate unsecured revolving credit facility | 0 | 160,000 | 175,000 |
Repayments of affiliate unsecured revolving credit facility | 0 | (160,000) | (175,000) |
Borrowings under unsecured revolving credit facilities and term loans | 1,742,308 | 1,200,000 | 130,000 |
Repayments of unsecured revolving credit facilities and term loans | (615,385) | (1,200,000) | (130,000) |
Payment of deferred financing costs | (447,461) | (257,998) | (72,881) |
Contributions from redeemable non-controlling interest | 40,977 | 32,894 | 3,005 |
Distributions to and redemption of redeemable non-controlling interest | (51,263) | (115,438) | (84,885) |
Redemption of affiliate service provider incentive compensation awards | (143) | (1,157) | (2,239) |
Contributions from non-controlling interests | 2,660,481 | 638,708 | 24,119 |
Distributions to and redemptions of non-controlling interests | (320,975) | (131,621) | (45,495) |
Distributions | (1,249,255) | (711,639) | (420,945) |
Sales of senior obligations of consolidated securitization vehicles | 101,954 | 132,916 | 10,000 |
Repayments of senior obligations of consolidated securitization vehicles | (1,653,304) | (65,852) | (4,283) |
Net cash provided by financing activities | 26,973,179 | 41,228,986 | 7,007,465 |
Net change in cash and cash equivalents and restricted cash | (1,148,210) | 2,372,913 | (65,179) |
Cash, cash equivalents and restricted cash, beginning of year | 3,418,581 | 1,044,523 | 1,109,702 |
Effects of currency translation on cash, cash equivalents and restricted cash | (15,879) | 1,145 | 0 |
Cash, cash equivalents and restricted cash, end of year | 2,254,492 | 3,418,581 | 1,044,523 |
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets: | |||
Cash and cash equivalents | 1,281,292 | 989,674 | 333,388 |
Restricted cash | 973,200 | 2,428,907 | 711,135 |
Total cash, cash equivalents and restricted cash | 2,254,492 | 3,418,581 | 1,044,523 |
Supplemental disclosures: | |||
Interest paid | 2,049,664 | 726,714 | 674,594 |
Non-cash investing and financing activities: | |||
Assumption of mortgage notes in conjunction with acquisitions of real estate | 4,150,467 | 5,494,319 | 944,112 |
Assumption of other assets and liabilities in conjunction with acquisitions of real estate | 200,760 | 575,405 | 5,688 |
Issuance of BREIT OP units as consideration for acquisitions of real estate and purchases of non-controlling interests | 229,313 | 395,752 | 770 |
Assumption of other liabilities in conjunction with acquisitions of investments in unconsolidated entities | 0 | 9,435 | 0 |
Recognition of financing lease liability | 0 | 16,855 | 0 |
Accrued pre-acquisition costs | 0 | 1,199 | 0 |
Accrued capital expenditures and acquisition related costs | 74,848 | 23,139 | 13,402 |
Acquired non-controlling interests | 521,868 | 1,660,443 | 0 |
Accrued distributions | 48,154 | 99,251 | 34,682 |
Accrued stockholder servicing fee due to affiliate | 352,586 | 630,181 | 126,872 |
Redeemable non-controlling interest issued as settlement of performance participation allocation | 817,527 | 1,571,607 | 141,396 |
Promote receivable for redeemable non-controlling interest issued in excess of performance participation allocation | 74,857 | 0 | 0 |
Allocation to redeemable non-controlling interest | 39,282 | 103,442 | 8,770 |
Distribution reinvestment | 1,386,808 | 792,953 | 492,664 |
Accrued common stock repurchases | 151,959 | 100,802 | 83,350 |
Mortgage payable proceeds in escrow | 108,940 | 0 | 0 |
Investment in single family rental homes risk retention securities | 117,073 | 0 | 0 |
Payable for unsettled investments in real estate debt | 0 | 21,426 | 0 |
Receivable for unsettled investments in real estate debt | 49,061 | 75 | 16,691 |
Net increase in additional paid-in capital resulting from purchases of non-controlling interest | 50,723 | 0 | 0 |
Consolidation of securitization vehicles | 2,348,079 | 10,744,399 | 0 |
Deconsolidation of securitization vehicles | 0 | 758,500 | 0 |
Assets and liabilities resulting from consolidation of previously unconsolidated entity: | |||
Investments in real estate, net | 17,543 | 0 | 0 |
Other assets | 38 | 0 | 0 |
Mortgage notes, net | 9,129 | 0 | 0 |
Other liabilities | 263 | 0 | 0 |
Non-controlling interests attributable to third party joint ventures | 92 | 0 | 0 |
Class I Shares | |||
Non-cash investing and financing activities: | |||
Exchange of redeemable non-controlling interest | 604,617 | 801,645 | 9,228 |
Class B Units | |||
Non-cash investing and financing activities: | |||
Exchange of redeemable non-controlling interest | $ 435,238 | $ 68,453 | $ 48,543 |
Organization and Business Purpo
Organization and Business Purpose | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Business Purpose | Organization and Business Purpose Blackstone Real Estate Income Trust, Inc. (“BREIT” or the “Company”) invests primarily in stabilized income-generating commercial real estate in the United States and, to a lesser extent, outside the United States. The Company to a lesser extent invests in real estate debt investments. The Company is the sole general partner and majority limited partner of BREIT Operating Partnership, L.P., a Delaware limited partnership (“BREIT OP”). BREIT Special Limited Partner L.P. (the “Special Limited Partner”), a wholly-owned subsidiary of Blackstone Inc. (together with its affiliates, “Blackstone”), owns a special limited partner interest in BREIT OP. Substantially all of the Company’s business is conducted through BREIT OP. The Company and BREIT OP are externally managed by BX REIT Advisors L.L.C. (the “Adviser”). The Adviser is part of the real estate group of Blackstone, a leading global investment manager. The Company was formed on November 16, 2015 as a Maryland corporation and qualifies as a real estate investment trust (“REIT”) for U.S. federal income tax purposes. The Company registered an offering with the Securities and Exchange Commission (the “SEC”) of up to $60.0 billion in shares of common stock, consisting of up to $48.0 billion in shares in its primary offering and up to $12.0 billion in shares pursuant to its distribution reinvestment plan, which the Company began using to offer shares of its common stock in March 2022 (the “Current Offering”). As of December 31, 2022, the Company had received aggregate net proceeds of $66.4 billion from selling shares of the Company’s common stock through the Current Offering, prior offerings registered with the SEC, and in unregistered private offerings. The Company intends to sell any combination of four classes of shares of its common stock, with a dollar value up to the maximum aggregate amount of the Current Offering. The share classes have different upfront selling commissions, dealer manager fees and ongoing stockholder servicing fees. The Company intends to continue selling shares on a monthly basis. As of December 31, 2022, the Company owned 5,172 properties and 28,776 single family rental homes. The Company currently operates in nine reportable segments: Rental Housing, Industrial, Net Lease, Data Centers, Hospitality, Self Storage, Retail, and Office properties, and Investments in Real Estate Debt. Rental Housing includes multifamily and other types of rental housing such as manufactured, student, affordable and single family rental housing, as well as senior living. Net Lease includes the real estate assets of The Bellagio Las Vegas (the “Bellagio”), The Cosmopolitan of Las Vegas (the “Cosmopolitan”) and the unconsolidated interest in the MGM Grand and Mandalay Bay joint venture. Any additional unconsolidated interests are included in the respective property segment as further described in Note 4 — Investments in Unconsolidated Entities. Financial results by segment are reported in Note 16 — Segment Reporting. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company, the Company’s subsidiaries and joint ventures in which the Company has a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. Certain amounts in the Company’s prior period Consolidated Statements of Operations included in interest expense of $0.4 million and $0.5 million for the year ended December 31, 2021 and year ended December 31, 2020, respectively, have been reclassified to income from equity securities and interest rate derivatives to conform to the current period presentation. Additionally, certain amounts in the Company’s prior period Consolidated Statements of Operations included in other income (expense) of $895.0 million and $66.5 million for the year ended December 31, 2021 and year ended December 31, 2020, respectively, have been reclassified to income from equity securities and interest rate derivatives to conform to the current period presentation. Certain amounts in the Company's prior period Consolidated Statements of Cash Flows have been reclassified to conform to the current period presentation. Principles of Consolidation The Company consolidates all entities in which it has a controlling financial interest through majority ownership or voting rights and variable interest entities whereby the Company is the primary beneficiary. In determining whether the Company has a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, the Company considers whether the entity is a variable interest entity (“VIE”) and whether it is the primary beneficiary. The Company is the primary beneficiary of a VIE when it has (i) the power to direct the most significant activities impacting the economic performance of the VIE and (ii) the obligation to absorb losses or receive benefits significant to the VIE. Entities that do not qualify as VIEs are generally considered voting interest entities (“VOEs”) and are evaluated for consolidation under the voting interest model. VOEs are consolidated when the Company controls the entity through a majority voting interest or other means. When the requirements for consolidation are not met and the Company has significant influence over the operations of the entity, the investment is accounted for under the equity method of accounting. Investments in unconsolidated entities for which the Company has not elected a fair value option are initially recorded at cost and subsequently adjusted for the Company’s pro-rata share of net income, contributions and distributions. When the Company elects the fair value option (“FVO”), the Company records its share of net asset value of the entity and any related unrealized gains and losses. BREIT OP and each of the Company’s joint ventures are considered to be a VIE or VOE. The Company consolidates these entities, excluding certain investments in unconsolidated entities, because it has the ability to direct the most significant activities of the entities such as purchases, dispositions, financings, budgets, and overall operating plans. For consolidated joint ventures, the non-controlling partner’s share of the assets, liabilities, and operations of each joint venture is included in non-controlling interests as equity of the Company. The non-controlling partner’s interest is generally computed as the joint venture partner’s ownership percentage. Certain of the joint ventures formed by the Company provide the other partner a profits interest based on certain internal rate of return hurdles being achieved. Any profits interest due to the other partner is reported within non-controlling interests. The Company owns Controlling Class Securities (defined below) in certain CMBS securitizations that give the Company certain rights with respect to the underlying loans that serve as collateral for the CMBS securitization. In particular, these Controlling Class Securities typically give the holder the right to direct certain activities of the securitization on behalf of all securityholders, which could impact the securitization's overall economic performance. Such rights, along with the obligation to absorb losses and receive benefits from the ownership of the Controlling Class Securities, require consolidation of these securitizations, which are considered VIEs under GAAP. As of December 31, 2022, the total assets and liabilities of the Company’s consolidated VIEs, excluding BREIT OP, were $52.1 billion and $37.8 billion, respectively, compared to $45.8 billion and $32.7 billion as of December 31, 2021. Such amounts are included on the Company’s Consolidated Balance Sheets. Adjustment to Prior Period Financial Statements In connection with the preparation of the Company’s consolidated financial statements for the period ended June 30, 2022, the Company determined that it should have consolidated certain securitization vehicles in previously issued financial statements. These consolidations result from certain subordinate securities that the Company owns in CMBS securitizations (such securities, “Controlling Class Securities”), as part of its portfolio of investments in real estate debt. These Controlling Class Securities typically give the Company the right to direct certain activities of the securitization on behalf of all securityholders, which could impact the securitization's overall economic performance. Under GAAP, the presence of such rights, along with the obligation to absorb losses and receive benefits from the ownership of the Controlling Class Securities, require the Company to consolidate these securitizations, which are considered VIEs. See Principles of Consolidation section above for further discussion of VIEs. As discussed further below, consolidation of these securitizations results in (i) a gross presentation of the Company’s Consolidated Balance Sheets, (ii) the reclassification of the change in net assets of the securitization vehicles on the Company’s Consolidated Statements of Operations, and (iii) the gross presentation of securitization vehicles on the Company's Consolidated Statements of Cash Flows, but has no impact on the economic exposure or performance of the Company. The consolidation of these securitizations results in the inclusion of the underlying collateral loans as assets on the Company’s Consolidated Balance Sheets and the inclusion of the senior CMBS positions owned by third-parties as liabilities on the Company’s Consolidated Balance Sheets. Additionally, the change in net assets of the consolidated securitization vehicles during a given period is presented separately on the Company’s Consolidated Statements of Operations, whereas it was previously included in income from investments in real estate debt. The Company’s Consolidated Statements of Cash Flows includes the consolidation of the securitization vehicles as a non-cash item, the subsequent repayments of consolidated loans and related CMBS positions are presented on a gross basis, and the Company's purchases and sales of non-controlling securities in consolidated securitization vehicles are reclassed from investing activities to financing activities. There is no impact from consolidation on the Company’s total equity, net income, cash flows from operating activities, or net cash flows. Further, the assets of any particular consolidated securitization can only be used to satisfy the liabilities of that securitization and such assets are not available to the Company for any other purpose. Similarly, the senior CMBS obligations of these securitizations can only be satisfied through repayment of the underlying collateral loans, as they do not have any recourse to the Company or its assets, nor has the Company provided any guarantees with respect to the performance or repayment of the senior CMBS obligations. Accordingly, while consolidation of the securitizations increases the gross presentation of the Company’s Consolidated Balance Sheets, it does not change the economic exposure or performance of the Company, which remains limited to that of the actual CMBS securities that it holds directly and not the consolidated securitized loans. The following tables detail the immaterial adjustments to the Company’s previously issued consolidated financial statements to reflect the consolidation of these securitizations at such time, which presentation is comparable to the Company’s consolidated financial statements as of December 31, 2022. The following table details the adjustments to the Company's Consolidated Balance Sheets ($ in thousands): December 31, 2021 As Reported Adjustment As Adjusted Assets Investments in real estate debt $ 8,995,939 $ (2,025,333) $ 6,970,606 Real estate loans held by consolidated securitization vehicles, at fair value — 17,055,986 17,055,986 Total assets 91,308,211 15,030,653 106,338,864 Liabilities and Equity Senior obligations of consolidated securitization vehicles, at fair value — 15,030,653 15,030,653 Total liabilities 51,527,615 15,030,653 66,558,268 Equity Total equity $ 39,029,926 $ — $ 39,029,926 The following table details the adjustments to the Company's Consolidated Statements of Operations ($ in thousands): Year Ended December 31, 2021 As Reported Adjustment As Adjusted Other income (expense) Income from investments in real estate debt $ 498,107 $ (106,240) $ 391,867 Change in net assets of consolidated securitization vehicles — 106,240 106,240 Total other income (expense) 752,108 — 752,108 Net Loss $ (836,164) $ — $ (836,164) Year Ended December 31, 2020 As Reported Adjustment As Adjusted Other income (expense) Loss from investments in real estate debt $ (120,917) $ 46,564 $ (74,353) Change in net assets of consolidated securitization vehicles — (46,564) (46,564) Total other income (expense) (588,228) — (588,228) Net Loss $ (867,402) $ — $ (867,402) The following table details the adjustments to the Company's Consolidated Statements of Cash Flows ($ in thousands): Year Ended December 31, 2021 As Reported Adjustment As Adjusted Cash flows from investing activities: Purchase of investments in real estate debt $ (5,880,308) $ 56,171 $ (5,824,137) Proceeds from sale/repayment of investments in real estate debt 1,642,388 (132,916) 1,509,472 Proceeds from paydowns of real estate loans held by consolidated securitization vehicles — 9,681 9,681 Net cash used in investing activities (40,572,094) (67,064) (40,639,158) Cash flows from financing activities: Borrowings of senior obligations of consolidated securitization vehicles — 132,916 132,916 Repayment of senior obligations of consolidated securitization vehicles — (65,852) (65,852) Net cash provided by financing activities 41,161,922 67,064 41,228,986 Non-cash investing and financing activities: Consolidation of securitization vehicles $ — $ 10,744,399 $ 10,744,399 Deconsolidation of securitization vehicles $ — $ (758,500) $ (758,500) Year Ended December 31, 2020 As Reported Adjustment As Adjusted Cash flows from investing activities: Proceeds from sale/repayment of investments in real estate debt $ 993,229 $ (10,000) $ 983,229 Proceeds from paydowns of real estate loans held by consolidated securitization vehicles — 4,283 4,283 Net cash used in investing activities (8,038,831) (5,717) (8,044,548) Cash flows from financing activities: Borrowings of senior obligations of consolidated securitization vehicles — 10,000 10,000 Repayment of senior obligations of consolidated securitization vehicles — (4,283) (4,283) Net cash provided by financing activities $ 7,001,748 $ 5,717 $ 7,007,465 Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may ultimately differ materially from those estimates. Investments in Real Estate In accordance with the guidance for business combinations, the Company determines whether the acquisition of a property qualifies as a business combination, which requires that the assets acquired and liabilities assumed constitute a business. If the property acquired does not constitute a business, the Company accounts for the transaction as an asset acquisition. The guidance for business combinations states that when substantially all of the fair value of the gross assets to be acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the asset or set of assets is not a business. All property acquisitions to date have been accounted for as asset acquisitions. Whether the acquisition of a property acquired is considered a business combination or asset acquisition, the Company recognizes the identifiable assets acquired, the liabilities assumed, and any non-controlling interest in the acquired entity. In addition, for transactions that are business combinations, the Company evaluates the existence of goodwill or a gain from a bargain purchase. The Company expenses acquisition-related costs associated with business combinations as they are incurred. The Company capitalizes acquisition-related costs associated with asset acquisitions. Upon acquisition of a property, the Company assesses the fair value of acquired tangible and intangible assets (including land, buildings, tenant improvements, “above-market” and “below-market” leases, acquired in-place leases, other identified intangible assets and assumed liabilities) and allocates the purchase price to the acquired assets and assumed liabilities. The Company assesses and considers fair value based on estimated cash flow projections that utilize discount and/or capitalization rates that it deems appropriate, as well as other available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known and anticipated trends, and market and economic conditions. The fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records acquired above-market and below-market leases at their fair values (using a discount rate which reflects the risks associated with the leases acquired) equal to the difference between (1) the contractual amounts to be paid pursuant to each in-place lease and (2) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed rate renewal options for below-market leases. The Company records acquired in-place lease values based on the Company’s evaluation of the specific characteristics of each tenant’s lease. Factors to be considered include estimates of carrying costs during hypothetical expected lease-up periods considering current market conditions, and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, the Company considers leasing commissions, legal and other related expenses. The Company also considers an allocation of purchase price of other acquired intangibles, including acquired in-place leases that may have a customer relationship intangible value, including (but not limited to) the nature and extent of the existing relationship with the tenants, the tenants’ credit quality and expectations of lease renewals. Based on its acquisitions to date, the Company’s allocation to customer relationship intangible assets has not been material. Intangible assets and intangible liabilities are recorded as a component of Other Assets and Other Liabilities, respectively, on the Company’s Consolidated Balance Sheets. The amortization of acquired above-market and below-market leases is recorded as an adjustment to Rental Revenue on the Company’s Consolidated Statements of Operations. The amortization of below-market and pre-paid ground leases are recorded as an adjustment to Rental Property Operating or Hospitality Operating Expenses, as applicable, on the Company’s Consolidated Statements of Operations. The amortization of in-place leases is recorded as an adjustment to Depreciation and Amortization Expense on the Company’s Consolidated Statements of Operations. The cost of buildings and improvements includes the purchase price of the Company’s properties and any acquisition-related costs, along with any subsequent improvements to such properties. The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows: Description Depreciable Life Building 30 - 42 years Building- and land improvements 10 years Furniture, fixtures and equipment 1 - 10 years Lease intangibles Over lease term Significant improvements to properties are capitalized. When assets are sold or retired, their costs and related accumulated depreciation are removed from the accounts with the resulting gains or losses reflected in net income or loss for the period. Repairs and maintenance are expensed to operations as incurred and are included in Rental Property Operating and Hospitality Operating Expenses on the Company’s Consolidated Statements of Operations. The Company’s management reviews its real estate properties for impairment each quarter or when there is an event or change in circumstances that indicates an impaired value. If the GAAP depreciated cost basis of a real estate investment exceeds the undiscounted cash flows of such real estate investment, the investment is considered impaired and the GAAP depreciated cost basis is reduced to the fair value of the investment. The impairment loss is recognized based on the excess of the carrying amount of the asset over its fair value. The evaluation of anticipated future cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results. Since cash flows on real estate properties considered to be “long-lived assets to be held and used” are considered on an undiscounted basis to determine whether an asset has been impaired, the Company’s strategy of holding properties over the long term directly decreases the likelihood of recording an impairment loss. If the Company’s strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may be recognized and such loss could be material to the Company’s results. No impairments occurred during the years ended December 31, 2022 and 2021 on properties held and used. During the year ended December 31, 2020, two of the Company’s hospitality assets were deemed to be impaired resulting in $12.3 million of impairment charges. Refer to Note 3 for additional details of the impairments. Properties Held-for-Sale The Company classifies the assets and liabilities related to its real estate investments as held-for-sale when a sale is probable to occur within one year. The Company considers a sale to be probable when a binding contract has been executed, the buyer has posted a non-refundable deposit, and there are limited contingencies to closing. The Company records held-for-sale real estate investments at the lower of depreciated cost or fair value, less estimated closing costs. During the year ended December 31, 2022, the Company recognized $33.6 million of impairment charges related to held-for-sale real estate investments. No impairments related to held-for-sale real estate investments occurred during the years ended December 31, 2021 and 2020. Held-for-sale assets and liabilities are presented within Other Assets and Other Liabilities on the Company’s Consolidated Balance Sheets. Refer to Notes 3 and 11 for additional details. Investments in Unconsolidated Entities Investments in unconsolidated entities are initially recorded at cost and subsequently adjusted for the Company’s pro-rata share of net income (loss), contributions, and distributions. The Company’s investments in unconsolidated entities are periodically assessed for impairment and an impairment loss is recorded when the fair value of the investment falls below the carrying value and such decline is determined to be other-than-temporary. The Company has elected the fair value option ("FVO") for certain of its investments in unconsolidated entities and therefore reports these investments at fair value. As such, the resulting unrealized gains and losses are recorded as a component of Income From Unconsolidated Entities on the Company’s Consolidated Statements of Operations. Investments in Real Estate Debt The Company’s investments in real estate debt consists of securities and loans. The Company has elected to classify its real estate debt securities as trading securities and carry such investments at fair value. As such, the resulting unrealized gains and losses of such securities are recorded as a component of Income/(Loss) from Investments in Real Estate Debt on the Company’s Consolidated Statements of Operations. The Company elected the FVO for its investments in loans. As such, the resulting unrealized gains and losses of such loans are recorded as a component of Income/(Loss) from Investments in Real Estate Debt on the Company’s Consolidated Statements of Operations. Interest income from the Company’s investments in real estate debt is recognized over the life of each investment using the effective interest method and is recorded on the accrual basis. Recognition of premiums and discounts associated with these investments is deferred and recorded over the term of the investment as an adjustment to yield. Interest income is recorded as a component of Income/(Loss) from Investments in Real Estate Debt on the Company’s Consolidated Statements of Operations. Consolidated Securitization Vehicles The Company consolidates certain CMBS securitizations within its financial statements. The consolidation of these securitizations results in a gross presentation of the underlying collateral loans as discrete assets, as well as inclusion of the senior CMBS positions owned by third-parties, which are presented as liabilities on the Company’s Consolidated Balance Sheets. Additionally, the changes in fair value of these positions include the interest income and interest expense associated with such CMBS VIEs. Management does not consider the separate presentation of the components of fair value changes to be relevant, and has elected to present these items in the aggregate as “Change in net assets of consolidated securitization vehicles” on the Company’s Consolidated Statements of Operations. The residual difference between the fair value of the consolidated securitization’s assets and liabilities represents the Company’s beneficial interest in such vehicles. The Company’s Consolidated Statements of Cash Flows includes (i) the consolidation and deconsolidation the securitization vehicles as a non-cash item, (ii) the subsequent repayments of consolidated loans and related CMBS positions presented on a gross basis, and (iii) the Company's purchases and sales of non-controlling securities in consolidated securitization vehicles classified as financing activities. There is no impact from consolidation on the Company’s total equity, net income, cash flows from operating activities, or net cash flows. Cash and Cash Equivalents Cash and cash equivalents represent cash held in banks, cash on hand, and liquid investments with original maturities of three months or less. The Company may have bank balances in excess of federally insured amounts; however, the Company deposits its cash and cash equivalents with high credit-quality institutions to minimize credit risk. Restricted Cash As of December 31, 2022 and 2021, restricted cash primarily consists of $0.2 billion and $1.7 billion, respectively, of cash received for subscriptions prior to the date in which the subscriptions are effective, which is held in a bank account controlled by the Company’s transfer agent but in the name of the Company. Other restricted cash primarily consists of amounts in escrow related to real estate taxes and insurance in connection with mortgages at certain of our properties and security deposits. Foreign Currency In the normal course of business, the Company makes investments in real estate outside the United States (“U.S.”) through subsidiaries that have a non-U.S. dollar functional currency. Non-U.S. dollar denominated assets and liabilities of these foreign subsidiaries are translated to U.S. dollars at the prevailing exchange rate at the reporting date and income, expenses, gains, and losses are translated at the average exchange rate over the applicable period. Cumulative translation adjustments arising from the translation of non-U.S. dollar denominated assets and liabilities are recorded in Other Comprehensive Income (Loss). Derivative Financial Instruments The Company classifies all derivative financial instruments as either other assets or other liabilities on its Consolidated Balance Sheets at fair value. On the date the Company enters into a derivative contract, the Company designates each contract as (i) a hedge of a net investment in a foreign operation, or net investment hedge, (ii) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability, or cash flow hedge, (iii) a hedge of a recognized asset or liability, or fair value hedge, or (iv) a derivative instrument not to be designated as a hedging derivative, or non-designated hedge. For all derivatives other than those designated as non-designated hedges, the Company formally documents its hedge relationships and designation at the contract’s inception. This documentation includes the identification of the hedging instruments and the hedged items, its risk management objectives, strategy for undertaking the hedge transaction and its evaluation of the effectiveness of its hedged transaction. On a quarterly basis, the Company also formally assesses whether the derivative designated in each hedging relationship is expected to be, and has been, highly effective in offsetting changes in the value or cash flows of the hedged items. If it is determined that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued and the changes in fair value of the instrument are included in net income prospectively. All changes in the fair value of derivative instruments that qualify as hedges are reported as a component of accumulated other comprehensive income (loss) on our consolidated financial statements. Deferred gains and losses are reclassified out of accumulated other comprehensive income (loss) and into net income in the same period or periods during which the hedged transaction affects earnings, and are presented in the same line item as the earnings effect of the hedged item. For cash flow hedges, this is typically when the periodic swap settlements are made. To the extent a derivative does not qualify for hedge accounting and is deemed a non-designated hedge, the changes in its fair value are included in net income concurrently. Realized gains and losses from an early termination of derivative instruments are reported as a component of net cash used in investing activities in the Company's consolidated statements of cash flows. Proceeds or payments from periodic settlements of derivative instruments are classified in the same section of the Company's Consolidated Statements of Cash Flows as the underlying hedged item. Deferred Charges The Company’s deferred charges include financing and leasing costs. Deferred financing costs include legal, structuring, and other loan costs incurred by the Company for its financing agreements. Deferred financing costs related to the Company’s mortgage notes and term loans are recorded as an offset to the related liability and amortized over the term of the applicable financing instruments. Deferred financing costs related to the Company’s unsecured revolving credit facilities are recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets and amortized over the term of the applicable financing agreements. Deferred leasing costs incurred in connection with new leases, which consist primarily of brokerage and legal fees, are recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets and amortized over the life of the related lease. Equity Securities The Company’s investments in equity securities of public and private real estate-related companies and its investments in a preferred equity security are reported at fair value. As such, the resulting unrealized gains and losses are recorded as a component of Income From Equity Securities and Interest Rate Derivatives on the Company’s Consolidated Statements of Operations. Dividend income from the Company’s equity securities of public real estate-related companies is recognized on the ex-dividend, while dividend income on its investment in a preferred equity security accrues daily based on the stated terms of the agreement and is payable quarterly in cash. Dividend income is recorded as a component of Income From Equity Securities and Interest Rate Derivative on the Company’s Consolidated Statements of Operations. Equity securities are recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets. Revenue Recognition The Company’s sources of revenue and the related revenue recognition policies are as follows: Rental revenue — primarily consists of base rent and tenant reimbursement income arising from tenant leases at the Company’s rental housing, industrial, net lease, data center, self storage, retail and office properties. Base rent is recognized on a straight-line basis over the life of the lease, including any rent steps or abatement provisions. The Company begins to recognize revenue upon the acquisition of the related property or when a tenant takes possession of the leased space. Tenant reimbursement income primarily consists of amounts due from tenants for costs related to common area maintenance, real estate taxes, and other recoverable costs included in lease agreements. Hospitality revenue — consists of income from the Company’s hospitality properties. Hospitality revenue consists primarily of room revenue and food and beverage revenue. Room revenue is recognized when the related room is occupied and other hospitality revenue is recognized when the service is rendered. The Company evaluates the collectability of receivables related to rental revenue on an individual lease basis. Management exercises judgment in assessing collectability and considers the length of time a receivable has been outstanding, tenant credit-worthiness, payment history, available information about the financial condition of the tenant, and current economic trends, among other factors. Tenant receivables that are deemed uncollectible are recognized as a reduction to rental revenue. Organization and Offering Costs Organization costs are expensed as incurred and recorded as a component of Other Expense on the Company’s Consolidated Statements of Operations and offering costs are charged to equity as such amounts are incurred. The Adviser agreed to advance $10.2 million of certain organization and offering costs on behalf of the Company (including legal, marketing and fulfillment, regulatory, due diligence, administrative, accounting, tax, transfer agent and other expenses attributable to the Company’s organization, but excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) through December 31, 2017. Such costs are recorded as a component of Due to Affiliates on the Company’s Consolidated Balance Sheets and are being reimbursed to the Adviser pro rata over 60 months beginning January 1, 2018. For both of the years ended December 31, 2022 and 2021, the Company reimbursed $2.0 million to the Adviser for such costs. |
Investments in Real Estate
Investments in Real Estate | 12 Months Ended |
Dec. 31, 2022 | |
Real Estate [Abstract] | |
Investments in Real Estate | Investments in Real Estate Investments in real estate, net consisted of the following ($ in thousands): December 31, 2022 December 31, 2021 Building and building improvements $ 81,914,789 $ 53,954,920 Land and land improvements 18,635,672 14,652,913 Furniture, fixtures and equipment 2,301,683 963,686 Right of use asset - operating leases (1) 1,090,782 461,186 Right of use asset - financing leases (1) 72,872 72,862 Total 104,015,798 70,105,567 Accumulated depreciation and amortization (5,866,306) (3,163,914) Investments in real estate, net $ 98,149,492 $ 66,941,653 (1) Refer to Note 15 for additional details on the Company’s leases. Acquisitions The following table details the properties acquired during the year ended December 31, 2022 ($ in thousands): Segments Purchase Price (1) Number of Transactions Number of Properties Sq. Ft. (in thousands)/Units/Keys Rental Housing properties (2)(3) $ 27,358,440 17 270 72,193 units Net Lease properties 4,026,768 1 1 6,901 sq. ft. Office properties (3) 1,794,585 4 8 2,693 sq. ft. Retail properties (3) 1,097,412 — 51 5,598 sq. ft. Self storage properties 542,335 6 34 2,913 sq. ft. Hospitality properties 504,866 1 7 1,403 keys Data center properties 331,184 1 3 792 sq. ft. Industrial properties 218,360 3 13 1,666 sq. ft. $ 35,873,950 33 387 (1) Purchase price is inclusive of acquisition-related costs. (2) Purchase price includes 5,761 wholly-owned single family rental homes, that are not included in the number of properties. (3) Purchase price for the acquisition of Preferred Apartment Communities (“PAC”) includes 45 rental housing properties, 51 retail properties and 3 office properties. The acquisition of PAC is included as a single transaction in the number of transactions column for rental housing properties. The following table details the properties acquired during the year ended December 31, 2021 ($ in thousands): Segments Purchase Price (1) Number of Transactions Number of Properties Sq. Ft. (in thousands)/Units/Keys Rental Housing properties (2) $ 27,439,966 34 672 114,014 units Industrial properties 6,942,733 17 272 54,326 sq. ft. Retail properties 868,867 2 13 2,454 sq. ft. Hospitality 642,994 3 8 1,475 keys Office properties 450,093 2 4 727 sq. ft. Self storage properties 410,299 6 31 2,273 sq. ft. Data center properties 180,057 1 2 430 sq. ft. $ 36,935,009 65 1,002 (1) Purchase price is inclusive of acquisition-related costs. (2) Purchase price includes 13,030 wholly-owned single family rental homes, that are not included in the number of properties. The following table details the purchase price allocation for the properties acquired during the year ended December 31, 2022 and 2021 ($ in thousands): For the Year Ended For the Year Ended Building and building improvements $ 29,327,825 $ 27,826,619 Land and land improvements 4,429,122 7,162,583 Furniture, fixtures and equipment 738,748 437,801 In-place lease intangibles 921,109 1,104,530 Above-market lease intangibles 16,281 17,820 Below-market lease intangibles (122,217) (197,404) Customer relationships 197,000 — Right of use asset - operating leases 634,354 — Right of use lease liability- operating leases (460,901) — Prepaid ground lease rent — 174,584 Other 192,629 408,476 Total purchase price $ 35,873,950 $ 36,935,009 Assumed debt (1) $ 4,150,467 $ 5,494,319 Net purchase price $ 31,723,483 $ 31,440,690 (1) Refer to Note 7 for additional details on the Company’s debt, which includes mortgage notes, secured term loans, and secured revolving credit facilities. The weighted-average amortization periods for the acquired in-place lease intangibles, above-market lease intangibles, below-market lease intangibles and customer relationship intangibles of the properties acquired during the year ended December 31, 2022 were three six three seven Dispositions The following table details the dispositions during the periods set forth below ($ in thousands): For the Year Ended For the Year Ended For the Year Ended Segments Number of Properties Net Proceeds Net Gain (1) Number of Properties Net Proceeds Net Gain (1) Number of Properties Net Proceeds Net Gain (1) Rental Housing properties (2) 55 $ 1,885,001 $ 468,259 11 $ 267,045 $ 7,881 7 $ 295,855 $ 77,617 Industrial properties 64 887,358 286,295 — — — 1 4,488 371 Self Storage properties 7 121,009 45,501 — — — — — — Hospitality properties 2 25,347 8,791 — — — 1 134,537 35,185 128 $ 2,918,715 $ 808,846 11 $ 267,045 $ 7,881 9 $ 434,880 $ 113,173 (1) Net gain includes losses of $86.7 million and $2.7 million on 11 rental housing properties and nine industrial properties sold, respectively, during the year ended December 31, 2022. For the year ended December 31, 2021, net gain includes losses of $24.5 million. There were no losses for the year ended December 31, 2020. (2) Net proceeds and net gain include 573 and 229 single family rental homes sold during the years ended December 31, 2022 and 2021 , respectively, that are not included in the number of properties. Properties Held-for-Sale As of December 31, 2022, 23 properties in the Rental Housing segment were classified as held-for-sale. As of December 31, 2021, four properties in the Rental Housing segment and one property in the Industrial segment were classified as held-for-sale. The held-for- sale assets and liabilities are included as components of Other Assets and Other Liabilities, respectively, on the Company’s Consolidated Balance Sheets. The following table details the assets and liabilities of the Company’s properties classified as held-for-sale ($ in thousands): Assets: December 31, 2022 December 31, 2021 Investments in real estate, net $ 378,183 $ 193,653 Other assets 2,084 2,591 Total assets $ 380,267 $ 196,244 Liabilities: Mortgage notes, net $ 198,036 $ 109,655 Other liabilities 77,016 4,722 Total liabilities $ 275,052 $ 114,377 Impairment During the year ended December 31, 2022, the Company recognized an aggregate of $33.6 million of impairment charges related to certain held-for-sale real estate investments where their carrying amount exceeded their fair value, less estimated closing costs. The Company did not recognize any impairment charges related to held-for-sale real estate investments during the years ended December 31, 2021 and 2020. The Company did not recognize any impairment charges on properties held and used during the years ended December 31, 2022 and 2021. |
Investments in Unconsolidated E
Investments in Unconsolidated Entities | 12 Months Ended |
Dec. 31, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in Unconsolidated Entities | Investments in Unconsolidated Entities The Company holds investments in joint ventures that it accounts for under the equity method of accounting, as the Company’s ownership interest in each joint venture does not meet the requirements for consolidation. Refer to Note 2 for additional details. The following tables detail the Company’s investments in unconsolidated entities ($ in thousands): December 31, 2022 Investment in Joint Venture Segment Number of Joint Ventures Number of Properties Ownership Book Value Unconsolidated entities carried at historical cost: QTS Data Centers (1) Data Centers 1 62 35.7% $ 1,657,778 MGM Grand & Mandalay Bay Net Lease 1 2 49.9% 834,148 Rental Housing investments (2) Rental Housing 92 87 12.2% - 52.0% 1,275,365 Industrial investments (3) Industrial 3 56 10.0% - 55.0% 242,883 Retail investments Retail 2 7 50.0% 97,971 Hospitality investment Hospitality 1 196 30.0% 314,006 Total unconsolidated entities carried at historical cost 100 410 4,422,151 Unconsolidated entities carried at fair value: Industrial investments (4) Industrial 12 2,135 7.9% - 85.0% 3,751,864 Office investments Office 1 1 49.0% 520,976 Data Center investments (5) Data Centers 1 N/A 12.4% 674,411 Total unconsolidated entities carried at fair value 14 2,136 4,947,251 Total 114 2,546 $ 9,369,402 (1) The Company along with certain Blackstone-managed investment vehicles formed a joint venture (“QTS Data Centers”) and acquired all outstanding shares of common stock of QTS Realty Trust (“QTS”). (2) Includes 10,767 wholly-owned single family rental homes, that are not included in the number of properties. (3) Includes $242.9 million from investments in three joint ventures formed by the Company and certain Blackstone-managed investment vehicles. (4) Includes $2.8 billion from investments in four joint ventures formed by the Company and certain Blackstone-managed investment vehicles. (5) Includes $674.4 million from investments in a digital towers joint venture formed by the Company and certain Blackstone-managed investment vehicles. December 31, 2021 Investment in Joint Venture Segment Number of Joint Ventures Number of Properties Ownership Book Value Unconsolidated entities carried at historical cost: QTS Data Centers (1) Data Centers 1 48 35.7% $ 1,394,359 MGM Grand & Mandalay Bay Net Lease 1 2 49.9% 822,736 Rental Housing investments (2) Rental Housing 130 125 12.2% - 52.0% 1,074,832 Industrial investments (3) Industrial 7 51 10.0% - 55.0% 497,491 Retail investments Retail 1 6 50.0% 98,241 Total unconsolidated entities carried at historical cost 140 232 3,887,659 Unconsolidated entities at carried at fair value: Industrial investments (4) Industrial 7 485 7.9% - 85.0% 1,613,646 Total unconsolidated entities carried at fair value 7 485 1,613,646 Total 147 717 $ 5,501,305 (1) The Company along with certain Blackstone-managed investment vehicles formed a joint venture (“QTS Data Centers”) and acquired all outstanding shares of common stock of QTS Realty Trust (“QTS”). (2) Includes 9,774 wholly-owned single family rental homes, that are not included in the number of properties. (3) Includes $291.5 million from investments in three joint ventures formed by the Company and certain Blackstone-managed investment vehicles. (4) Includes $1.0 billion from investments in three joint ventures formed by the Company and certain Blackstone-managed investment vehicles. The following table details the Company’s income from unconsolidated entities ($ in thousands): For the Year Ended December 31, BREIT Income (Loss) from Unconsolidated Entities Segment Ownership 2022 2021 2020 Unconsolidated entities carried at historical cost: QTS Data Centers Data Centers 35.7% $ (167,805) $ (71,745) $ — MGM Grand & Mandalay Bay Net Lease 49.9% 99,878 100,276 88,571 Rental Housing investments Rental Housing 12.2% - 52.0% (79,148) (17,461) — Industrial investments Industrial 10.0% - 55.0% (310) 1,185 — Retail investments Retail 50.0% (1,007) 167 — Hospitality investment Hospitality 30.0% 6,303 — — Total unconsolidated entities carried at historical cost (142,089) 12,422 88,571 Unconsolidated entities carried at fair value: Industrial investments Industrial 7.9% - 85.0% 320,118 193,558 — Office investments Office 49.0% 4,493 — — Data Center investments Data Centers 12.4% (273) — — Total unconsolidated entities carried at fair value 324,338 193,558 — Total $ 182,249 $ 205,980 $ 88,571 The following tables provide the combined summarized financial information of our unconsolidated joint ventures as of the dates and for the periods set forth below ($ in thousands): Balance Sheets: December 31, 2022 December 31, 2021 Total assets $ 74,497,816 $ 38,438,322 Total liabilities $ 45,934,895 $ 25,402,902 BREIT's share of net equity $ 7,253,656 $ 3,898,861 BREIT fair value adjustment 1,169,369 166,067 BREIT outside basis 946,377 1,436,377 BREIT investments in unconsolidated entities $ 9,369,402 $ 5,501,305 For the Year Ended December 31, Income Statements: 2022 2021 2020 Total revenues $ 6,869,106 $ 1,397,424 $ 346,482 Net income $ 208,880 $ 136,869 $ 177,757 BREIT's share of net income $ 143,941 $ 56,246 $ 88,701 BREIT fair value adjustment 86,106 166,067 — Amortization of outside basis (47,798) (16,333) (130) BREIT income from unconsolidated entities $ 182,249 $ 205,980 $ 88,571 |
Investments in Real Estate Debt
Investments in Real Estate Debt | 12 Months Ended |
Dec. 31, 2022 | |
Investments [Abstract] | |
Investments in Real Estate Debt | Investments in Real Estate Debt The following tables detail the Company’s investments in real estate debt ($ in thousands): December 31, 2022 Type of Security/Loan (1) Weighted Average Coupon (2) Weighted Average Maturity Date (3) Face Cost Fair CMBS (4) L+3.9% 12/10/2032 $ 6,474,823 $ 6,473,296 $ 5,943,403 RMBS 4.5% 1/21/2053 404,953 393,511 292,516 Corporate bonds 4.9% 3/17/2031 115,980 126,052 105,558 Total real estate securities 6.4% 11/4/2033 6,995,756 6,992,859 6,341,477 Commercial real estate loans L+5.5% 7/17/2026 1,489,296 1,499,691 1,483,358 Other investments (5) 3.7% 9/21/2029 209,746 183,017 176,868 Total investments in real estate debt 6.8% 5/25/2032 $ 8,694,798 $ 8,675,567 $ 8,001,703 December 31, 2021 Type of Security/Loan (1) Weighted Average Coupon (2) Weighted Average Maturity Date (3) Face Cost Fair CMBS (4) L+3.5% 8/8/2033 $ 5,097,318 $ 5,068,099 $ 5,029,942 RMBS 3.9% 5/24/2061 147,170 146,023 144,691 Corporate bonds 4.8% 12/10/2028 135,950 135,952 136,469 Total real estate securities 3.6% 3/29/2034 5,380,438 5,350,074 5,311,102 Commercial real estate loans L+4.4% 1/19/2025 1,474,617 1,473,807 1,460,717 Other investments (5) 3.7% 7/25/2029 227,958 198,909 198,787 Total investments in real estate debt 3.7% 3/7/2032 $ 7,083,013 $ 7,022,790 $ 6,970,606 (1) This table does not include the Company’s Controlling Class Securities in certain CMBS securitizations that have been consolidated on the Company’s financial statements. The underlying collateral loans and the senior CMBS positions owned by third-parties of such securitizations are presented separately on the Company’s Consolidated Balance Sheets. See Note 6 to the consolidated financial statements. (2) The term “L” refers to the relevant floating benchmark rates, which include USD LIBOR, EURIBOR, SOFR and SONIA, as applicable to each security and loan. Fixed rate CMBS and commercial real estate loans are reflected as a spread over the relevant floating benchmark rates for purposes of the weighted-averages. Weighted Average Coupon for CMBS does not include zero-coupon securities. As of December 31, 2022 and 2021, the Company had interest rate swaps outstanding with a notional value of $1.4 billion and $1.1 billion, respectively, that effectively converts a portion of its fixed rate investments in real estate debt to floating rates. Total weighted average coupon does not include the impact of derivatives. (3) Weighted average maturity date is based on the fully extended maturity date of the instrument. (4) Face amount excludes interest-only securities with a notional amount of $1.1 billion as of both December 31, 2022 and 2021. (5) Includes an interest in an unconsolidated joint venture that holds investments in real estate debt. The following table details the collateral type of the properties securing the Company’s investments in real estate debt ($ in thousands): December 31, 2022 December 31, 2021 Collateral (1) Cost Fair Percentage Based on Fair Value Cost Fair Percentage Based on Fair Value Industrial $ 2,681,299 $ 2,483,592 32% $ 2,597,948 $ 2,573,935 37% Rental Housing (2) 2,119,282 1,940,795 24% 1,250,446 1,261,455 18% Hospitality 1,884,353 1,768,090 22% 1,866,683 1,848,015 27% Net Lease 983,374 947,368 12% 8,885 8,779 –% Office 552,016 439,938 5% 546,548 527,148 8% Other 360,903 339,609 4% 331,169 328,745 5% Diversified 94,340 82,311 1% 403,737 405,569 5% Retail — — —% 17,374 16,960 –% Total $ 8,675,567 $ 8,001,703 100% $ 7,022,790 $ 6,970,606 100% (1) This table does not include the Company’s Controlling Class Securities in certain CMBS securitizations that have been consolidated on the Company’s financial statements. The underlying collateral loans and the senior CMBS positions owned by third-parties of such securitizations are presented separately on the Company’s Consolidated Balance Sheets. See Note 6 to the consolidated financial statements. (2) Rental Housing investments in real estate debt are collateralized by various forms of rental housing including apartments and single family rental homes. The following table details the credit rating of the Company’s investments in real estate debt ($ in thousands): December 31, 2022 December 31, 2021 Credit Rating (1) Cost Fair Percentage Based on Fair Value Cost Fair Percentage Based on Fair Value A $ 91,809 $ 86,055 1% $ 127,118 $ 125,420 2% BBB 1,077,419 1,024,908 13% 340,326 337,509 5% BB 1,858,101 1,659,281 21% 1,446,160 1,441,879 21% B 1,609,017 1,424,940 18% 1,459,218 1,436,271 21% CCC 40,486 33,225 —% 24,338 24,242 —% Private commercial real estate loans 1,682,708 1,660,226 21% 1,598,701 1,585,738 23% Not rated (2) 2,316,027 2,113,068 26% 2,026,929 2,019,547 28% Total $ 8,675,567 $ 8,001,703 100% $ 7,022,790 $ 6,970,606 100% (1) This table does not include the Company’s Controlling Class Securities in certain CMBS securitizations that have been consolidated on the Company’s financial statements. The underlying collateral loans and the senior CMBS positions owned by third-parties of such securitizations are presented separately on the Company’s Consolidated Balance Sheets. See Note 6 to the consolidated financial statements. (2) As of December 31, 2022, not rated positions have a weighted-average LTV at origination of 64.0% and are primarily composed of 62.8% industrial and 27.4% rental housing assets, and includes interest-only securities with a fair value of $17.0 million. The following table details the amounts recognized for the Company’s investments in real estate debt ($ in thousands): Year Ended December 31, 2022 2021 2020 Interest income $ 472,855 $ 181,332 $ 187,018 Unrealized (loss) gain (629,079) 56,148 (131,419) Realized (loss) gain (116,262) 47,963 (21,240) Total (272,486) 285,443 34,359 Income from interest rate swaps and other derivatives 220,159 81,886 (73,593) Income from secured financings of investments in real estate debt (1) 36,644 25,798 (33,540) Other loss (11,390) (1,260) (1,579) Total (loss) income from investments in real estate debt $ (27,073) $ 391,867 $ (74,353) (1) Represents unrealized and realized gains and (losses). The Company’s investments in real estate debt included certain CMBS and loans collateralized by properties owned by Blackstone-advised investment vehicles. The following table details the Company’s investments in affiliated real estate debt ($ in thousands): Fair Value Income (Loss) Year Ended December 31, December 31, 2022 December 31, 2021 2022 2021 2020 CMBS $ 1,683,765 $ 3,099,694 $ (107,702) $ 105,421 $ (14,950) Commercial real estate loans 835,846 556,571 41,012 (11,611) 79,689 Total $ 2,519,611 $ 3,656,265 $ (66,690) $ 93,810 $ 64,739 The Company acquired such affiliated CMBS from third-parties on market terms negotiated by the majority third-party investors. The Company will forgo all non-economic rights, including voting rights, in such CMBS as long as the Blackstone-advised investment vehicles either own the properties collateralizing the underlying loans, or have an interest in a different part of the capital structure of such CMBS. The Company acquired commercial real estate loans to borrowers that are owned by Blackstone-advised investment vehicles. The Company has forgone all non-economic rights under these loans, including voting rights, so long as the Blackstone-advised investment vehicle controls the borrowers. These loans were negotiated by third parties without the Company's involvement. As of December 31, 2022 and December 31, 2021, the Company’s investments in real estate debt also included $1.9 billion and $1.4 billion, respectively, of CMBS collateralized, in part, by certain of the Company’s mortgage notes. During the years ended December 31, 2022, 2021, and 2020, the Company recognized $62.1 million, $47.6 million, and $11.7 million of income, respectively, related to such CMBS. |
Consolidated Securitization Veh
Consolidated Securitization Vehicles | 12 Months Ended |
Dec. 31, 2022 | |
Transfers and Servicing [Abstract] | |
Consolidated Securitization Vehicles | Consolidated Securitization Vehicles The Company has acquired the Controlling Class Securities of certain CMBS securitizations resulting in the consolidation of such securitizations on its Consolidated Balance Sheets. The consolidation of these securitizations results in a gross presentation of the underlying collateral loans as discrete assets, as well as inclusion of the senior CMBS positions owned by third-parties, which are presented as liabilities on the Company’s Consolidated Balance Sheets. The assets of any particular consolidated securitization can only be used to satisfy the liabilities of that securitization and such assets are not available to the Company for any other purpose. Similarly, the senior CMBS obligations of these securitizations can only be satisfied through repayment of the underlying collateral loans, as they do not have any recourse to the Company or its assets, nor has the Company provided any guarantees with respect to the performance or repayment of the senior CMBS obligations. The following tables detail the real estate loans held by the consolidated securitization vehicles and the related senior obligations of consolidated securitization vehicles ($ in thousands): December 31, 2022 Count Principal Fair Wtd. Avg. Yield/Cost (1) Wtd. Avg. Term (2) Real estate loans held by consolidated securitization vehicles 292 $ 17,527,441 $ 17,030,387 5.1% 3/24/2025 Senior obligations of consolidated securitization vehicles 22 15,565,671 15,288,598 4.9% 10/18/2025 Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles 22 $ 1,961,770 $ 1,741,789 6.6% 5/6/2025 December 31, 2021 Count Principal Fair Wtd. Avg. Yield/Cost (1) Wtd. Avg. Term (2) Real estate loans held by consolidated securitization vehicles 173 $ 16,873,465 $ 17,055,986 2.4% 10/2/2024 Senior obligations of consolidated securitization vehicles 22 14,780,036 15,030,653 2.1% 3/14/2025 Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles 22 $ 2,093,429 $ 2,025,333 3.6% 11/01/2024 (1) The weighted-average yield and cost represent the all-in rate, which includes both fixed and floating rates, as applicable to each securitized debt obligation. (2) Loan term represents weighted-average final maturity, assuming all extension options are exercised by the borrower. Repayments of senior obligations of consolidated securitization vehicles are tied to timing of the related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of the securitizations. |
Mortgage Notes, Secured Term Lo
Mortgage Notes, Secured Term Loans, and Secured Revolving Credit Facilities | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Mortgage Notes, Secured Term Loans, and Secured Revolving Credit Facilities | Mortgage Notes, Secured Term Loans, and Secured Revolving Credit Facilities The following table details the mortgage notes, secured term loans, and secured revolving credit facilities secured by the Company’s real estate ($ in thousands): December 31, 2022 Principal Balance Outstanding Indebtedness Weighted Average Interest Rate (1) Weighted Average Maturity Date (2)(3) Maximum December 31, 2022 December 31, 2021 Fixed rate loans: Fixed rate mortgages (4) 3.7% 12/15/2028 N/A $ 25,152,361 $ 19,086,525 Variable rate loans: Variable rate mortgages and secured term loans L+2.4% 1/30/2027 N/A 34,141,570 20,075,465 Variable rate secured revolving credit facilities (5) L+1.6% 6/5/2026 $ 4,211,100 2,608,778 1,614,550 Variable rate warehouse facilities (6) L+1.9% 10/4/2025 $ 4,284,381 3,728,340 794,141 Total variable rate loans L+2.3% 12/2/2026 40,478,688 22,484,156 Total loans secured by real estate 5.5% 9/13/2027 65,631,049 41,570,681 (Discount) premium on assumed debt, net (121,435) 68,706 Deferred financing costs, net (546,911) (311,999) Mortgage notes, secured term loans, and secured revolving credit facilities, net $ 64,962,703 $ 41,327,388 (1) The term “L” refers to the relevant floating benchmark rates, which include one-month LIBOR, three-month LIBOR, 30-day SOFR, and one-month CDOR as applicable to each loan. As of December 31, 2022, we have outstanding interest rate swaps with an aggregate notional balance of $32.4 billion and interest rate caps with an aggregate notional balance of $14.1 billion that mitigate our exposure to potential future interest rate increases under our floating-rate debt. Total weighted average interest rate does not include the impact of derivatives. The net weighted average interest rate including the impact of derivatives is 4.3%. (2) Weighted average maturity assumes maximum maturity date (including any extensions), where the Company, at its sole discretion, has one or more extension options. (3) The majority of the Company’s mortgages contain yield or spread maintenance provisions. (4) Includes $364.5 million and $396.3 million of loans related to our investment in affordable housing properties as of December 31, 2022 and 2021, respectively. Such loans are generally with municipalities, housing authorities, and other third parties administered through government sponsored affordable housing programs. Certain of these loans may be forgiven if specific affordable housing conditions are maintained. (5) Additional borrowings under the Company's variable rate secured revolving credit facilities are immediately available. (6) Additional borrowings under the Company's variable rate warehouse facilities require additional collateral, which are subject to lender approval. The following table details the future principal payments due under the Company’s mortgage notes, secured term loans, and secured revolving credit facilities as of December 31, 2022 ($ in thousands): Year Amount 2023 $ 632,020 2024 4,755,792 2025 9,182,374 2026 17,493,421 2027 19,148,859 Thereafter 14,418,583 Total $ 65,631,049 The Company repaid certain of its loans in conjunction with the sale or a refinancing of the underlying property and incurred a net realized loss on extinguishment of debt of $11.5 million, $16.3 million, and $10.4 million for the years ended December 31, 2022, 2021, and 2020 respectively. The losses on extinguishment of debt resulted primarily from the acceleration of related deferred financing costs, prepayment penalties, and transaction costs. |
Secured Financings on Investmen
Secured Financings on Investments in Real Estate Debt | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Repurchase Agreements [Abstract] | |
Secured Financings on Investments in Real Estate Debt | Secured Financings of Investments in Real Estate Debt The Company has entered into master repurchase agreements and other financing agreements secured by certain of its investments in real estate debt. The terms of the master repurchase agreements and other financing agreements provide the lenders the ability to determine the size and terms of the financing provided based upon the particular collateral pledged by the Company from time-to-time, and may require the Company to provide additional collateral in the form of cash, securities, or other assets if the market value of the financed investments decline. The following tables detail the Company’s secured financings of investments in real estate debt ($ in thousands): December 31, 2022 Collateral Type Borrowings Outstanding Collateral Assets (1) Weighted Average Interest Rate (2) Weighted Average Maturity Date CMBS $ 4,482,728 $ 7,447,672 L+1.3% 12/27/2023 RMBS 220,694 294,337 L+1.1% 11/18/2023 Commercial real estate loans 163,547 259,224 L+1.9% 3/23/2024 Corporate bonds 99,716 137,084 L+1.1% 10/5/2023 $ 4,966,685 $ 8,138,317 L+1.3% December 31, 2021 Collateral Type Borrowings Outstanding Collateral Assets (1) Weighted Average Interest Rate (2) Weighted Average Maturity Date CMBS $ 4,308,015 $ 6,604,524 L+0.9% 1/20/2023 Commercial real estate loans 224,510 345,400 L+1.8% 4/2/2022 Corporate bonds 90,578 135,355 L+0.8% 11/17/2022 RMBS 83,529 125,967 L+0.9% 12/31/2022 $ 4,706,632 $ 7,211,246 L+1.0% (1) Represents the fair value of the Company’s investments in real estate debt that serve as collateral. |
Unsecured Revolving Credit Faci
Unsecured Revolving Credit Facilities and Term Loans | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Unsecured Revolving Credit Facilities and Term Loans | Unsecured Revolving Credit Facilities and Term Loans The Company is party to unsecured credit facilities with multiple banks. The credit facilities have a weighted average maturity date of November 29, 2024, which may be extended for one year, and an interest rate of SOFR +2.5%. As of December 31, 2022 and 2021, the maximum capacity of the credit facilities was $5.6 billion and $2.0 billion, respectively. There were no outstanding borrowings on unsecured credit facilities as of December 31, 2022 and 2021. The Company is party to an unsecured, uncommitted line of credit (the “Line of Credit”) up to a maximum amount of $75.0 million with an affiliate of Blackstone (“Lender”). The Line of Credit expires on January 24, 2024, and may be extended for up to 12 months, subject to Lender approval. The interest rate is equivalent to the then-current rate offered to the Company by a third-party lender, or, if no such rate is available, SOFR +2.5%. Each advance under the Line of Credit is repayable on the earliest of (i) the expiration of the Line of Credit, (ii) Lender’s demand and (iii) the date on which the Adviser no longer acts as the Company’s external manager, provided that the Company will have 180 days to make such repayment in the cases of clauses (i) and (ii) and 45 days to make such repayment in the case of clause (iii). As of December 31, 2022 and 2021, the Company had no outstanding balance under the Line of Credit. The Company is party to unsecured term loans with multiple banks. The term loans have a weighted average maturity date of January 30, 2026 and an interest rate of SOFR +2.5%. As of December 31, 2022, the aggregate outstanding balance of the unsecured term loans was $1.1 billion. There were no outstanding borrowings on unsecured terms loans as of December 31, 2021. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Due to Affiliates The following table details the components of due to affiliates ($ in thousands): December 31, 2022 December 31, 2021 Accrued stockholder servicing fee $ 1,588,178 $ 1,235,592 Performance participation allocation — — Accrued management fee 71,644 56,607 Accrued affiliate service provider expenses 14,975 12,880 Advanced organization and offering costs — 2,045 Other 1,511 2,323 Total $ 1,676,308 $ 1,309,447 Accrued Stockholder Servicing Fee The Company accrues the full amount of the future stockholder servicing fees payable to Blackstone Securities Partners L.P. (the “Dealer Manager”), a registered broker dealer affiliated with the Adviser, for Class S, Class T, and Class D shares, up to the 8.75% of gross proceeds limit, at the time such shares are sold. The Dealer Manager has entered into agreements with the selected dealers distributing the Company’s shares as part of its continuous public offering, that provide, among other things, for the re-allowance of the full amount of the selling commissions and dealer manager fee, and all or a portion of the stockholder servicing fees received by the Dealer Manager to such selected dealers. Performance Participation Allocation The Special Limited Partner holds a performance participation interest in BREIT OP that entitles it to receive an allocation of BREIT OP’s total return. Total return is defined as distributions paid or accrued plus the change in the Company’s Net Asset Value (“NAV”), adjusted for subscriptions and repurchases. Under the BREIT OP agreement, the annual total return will be allocated solely to the Special Limited Partner only after the other unit holders have received a total return of 5% (after recouping any loss carryforward amount) and such allocation will continue until the allocation between the Special Limited Partner and all other BREIT OP unit holders is equal to 12.5% and 87.5%, respectively. Thereafter, the Special Limited Partner will receive an allocation of 12.5% of the annual total return. The allocation of the performance participation interest is ultimately measured on a calendar year basis and will be paid quarterly in Class I or Class B units of BREIT OP or cash, at the election of the Special Limited Partner. To date, the Special Limited Partner has always elected to be paid in a combination of Class I and Class B units, resulting in a non-cash expense. Effective March 4, 2022, following the end of each calendar quarter that is not also the end of a calendar year, the Special Limited Partner has been entitled to a performance participation allocation as described above calculated in respect of the portion of the year to date, less any performance participation allocation received with respect to prior quarters in that year (the “Quarterly Allocation”). The performance participation allocation that the Special Limited Partner is entitled to receive at the end of each calendar year will be reduced by the cumulative amount of Quarterly Allocations that year. If a Quarterly Allocation is made and at the end of a subsequent calendar quarter in the same calendar year the Special Limited Partner is entitled to less than the previously received Quarterly Allocation(s) (a “Quarterly Shortfall”), then subsequent distributions of any Quarterly Allocations or year-end performance allocations in that calendar year will be reduced by an amount equal to such Quarterly Shortfall, until such time as no Quarterly Shortfall remains. If all or any portion of a Quarterly Shortfall remains at the end of a calendar year following the application described in the previous sentence, distributions of any Quarterly Allocations and year-end performance allocations in the subsequent four calendar years will be reduced by (i) the remaining Quarterly Shortfall plus (ii) an annual rate of 5% on the remaining Quarterly Shortfall measured from the first day of the calendar year following the year in which the Quarterly Shortfall arose and compounded quarterly (collectively, the “Quarterly Shortfall Obligation”) until such time as no Quarterly Shortfall Obligation remains; provided, that the Special Limited Partner (or its affiliate) may make a full or partial cash payment to reduce the Quarterly Shortfall Obligation at any time; provided, further, that if any Quarterly Shortfall Obligation remains following such subsequent four calendar years, then the Special Limited Partner (or its affiliate) will promptly pay BREIT OP the remaining Quarterly Shortfall Obligation in cash. During the years ended December 31, 2022, 2021 and 2020 the Company recognized $742.7 million, $1.4 billion and $192.6 million, respectively, of performance participation allocation expense in the Company’s Consolidated Statements of Operations. The Company issued 54.9 million Class I units in BREIT OP to the Special Limited Partner as payment for $817.5 million of Quarterly Allocations through September 30, 2022. Subsequent to the issuance of such Class I units, 31.7 million units were exchanged for Class I shares of the Company. For the year ended December 31, 2022, the full year performance participation allocation was less than the previously distributed Quarterly Allocations resulting in a Quarterly Shortfall amount of $74.9 million. Such Quarterly Shortfall amount is recorded as a receivable from the Special Limited Partner and included as a component of Other Assets on the Company's Consolidated Balance Sheets. Beginning January 1, 2023, to the extent such Quarterly Shortfall remains, interest on the Quarterly Shortfall will accrue at a 5% annual rate, compounded quarterly. At the election of the Special Limited Partner, each Class I unit is redeemable for cash or Class I shares (on a one-for-one basis). On December 31, 2021, the Company issued 96.4 million Class I units in BREIT OP to the Special Limited Partner as payment of the 2021 performance participation allocation. Such units were issued at the NAV per unit as of December 31, 2021. Also on December 31, 2021, and immediately following (i) the issuance of the Class I units and (ii) the record time for the December 2021 distributions on the Company’s Class I shares, 55.2 million Class I units in BREIT OP were exchanged for 55.2 million unregistered Class I shares in the Company. In January 2022, subsequent to the issuance of the Class I shares and Class I units, 4.7 million of such Class I units were exchanged for 4.7 million Class B units, 37.8 million of such Class I shares and 1.9 million of such Class I units were redeemed for $566.6 million, and 9.0 million of such units were exchanged for 9.0 million unregistered Class I shares in the Company. In January 2021, the Company issued 15.5 million Class I units and 1.1 million Class B units in BREIT OP to the Special Limited Partner as payment of the 2020 performance participation allocation. Such units were issued at the NAV per unit as of December 31, 2020. Subsequent to the issuance of the Class I units and Class B units, 9.7 million of such units were redeemed for $111.9 million, and 1.1 million of such units were exchanged for unregistered Class I shares in the Company. As of March 17, 2023, Blackstone and its employees, including the Company’s executive officers, owned $1.8 billion and $1.5 billion, respectively, shares of common stock of the Company and Class I and Class B units of BREIT OP. Accrued Management Fee The Adviser is entitled to an annual management fee equal to 1.25% of the Company’s NAV, payable monthly, as compensation for the services it provides to the Company. The management fee can be paid, at the Adviser’s election, in cash, shares of the Company’s common stock, or BREIT OP units. To date, the Adviser has elected to receive the management fee in shares of the Company’s common stock, resulting in a non-cash expense. During the years ended December 31, 2022, 2021 and 2020 the Company incurred management fees of $837.7 million, $445.3 million and $224.8 million, respectively. During the years ended December 31, 2022, 2021 and 2020, the Company issued 51.3 million, 30.1 million and 18.5 million unregistered Class I shares, respectively, to the Adviser as payment for management fees. The Company also had a payable of $71.6 million and $56.6 million related to the management fees as of December 31, 2022 and December 31, 2021, respectively. During January 2023, the Adviser was issued 4.8 million unregistered Class I shares as payment for the management fees accrued as of December 31, 2022. The shares issued to the Adviser for payment of the management fee were issued at the applicable NAV per share at the end of each month for which the fee was earned. The Adviser did not submit any repurchase requests for shares previously issued as payment for management fees during the year ended December 31, 2022. During the year ended December 31, 2021, the Adviser submitted 25.2 million Class I shares for repurchase by the Company, for a total repurchase amount of $321.4 million. Accrued affiliate service provider expenses and incentive compensation awards The Company has engaged Link Industrial Properties LLC (“Link”), a portfolio company owned by Blackstone-advised investment vehicles, to provide, as applicable, operational services (including, without limitation, property management, leasing, and construction and project management), management services, loan management services, corporate support services (including, without limitation, accounting, information technology, legal, tax and human resources) and transaction support services for the Company’s industrial properties. The Company has engaged LivCor, LLC (“LivCor”), a portfolio company owned by Blackstone-advised investment vehicles, to provide, as applicable, operational services (including, without limitation, construction and project management), management services, loan management services, corporate support services (including, without limitation, accounting, information technology, legal, tax and human resources) and transaction support services for the Company’s multifamily properties. The Company has engaged Revantage Corporate Services, LLC and Revantage Global Services Europe S.à r.l. (collectively “Revantage”), portfolio companies owned by Blackstone-advised investment vehicles, to provide, as applicable, corporate support services (including, without limitation, accounting, legal, tax, treasury, valuation services, information technology and data management). The Company has engaged BRE Hotels and Resorts (“BRE”), a portfolio company controlled (but not owned) by Blackstone-advised investment vehicles, to provide, as applicable, operational services (including, without limitation, construction and project management), management services, loan management services, corporate support services (including, without limitation, accounting, legal and tax) and transaction support services for the Company’s hospitality properties. The Company has engaged ShopCore Properties TRS Management LLC (“ShopCore”), a portfolio company owned by Blackstone-advised investment vehicles, to provide, as applicable, operational services (including, without limitation, property management, construction and project management and leasing), management services, loan management services, corporate support services (including, without limitation, accounting, information technology, legal, tax and human resources) and transaction support services for the Company’s retail properties. The Company has engaged BPP MFNY Employer LLC (“Beam”), a portfolio company owned by Blackstone-advised investment vehicles, to provide, as applicable, operational services (including, without limitation, construction and project management), management services, loan management services, corporate support services (including, without limitation, accounting, information technology, legal, tax and human resources) and transaction support services for certain of the Company’s multifamily properties in New York City. The Company has engaged Equity Office Management, L.L.C. (“EOM”), a portfolio company owned by Blackstone-advised investment vehicles, to provide, as applicable, operational services (including, without limitation, property management, leasing, and construction and project management), management services, loan management services, corporate support services (including, without limitation, accounting, information technology, legal, tax and human resources) and transaction support services for the Company’s office properties. The Company has engaged Longview Senior Housing Advisors, LLC (“Longview”), a portfolio company owned by Blackstone-advised investment vehicles, to provide, as applicable, operational services (including, without limitation, property management and construction and project management), corporate support services (including, without limitation, accounting, information technology, legal, tax and human resources) and transaction support services for the Company’s senior living rental housing properties. The following table details the amounts incurred for affiliate service providers ($ in thousands): Affiliate Service Amortization of Capitalized Transaction Year Ended December 31, Year Ended December 31, Year Ended December 31, 2022 2021 2020 2022 2021 2020 2022 2021 2020 Link $ 99,798 $ 68,277 $ 53,836 $ 8,929 $ 6,174 $ 727 $ 5,541 $ 3,696 $ 3,366 LivCor 78,490 39,481 27,144 9,073 6,235 214 10,762 6,529 3,924 Revantage (1) 28,984 3,029 1,951 1,668 — — — 8,696 — BRE 17,374 11,565 15,109 1,183 728 435 261 127 — ShopCore 15,269 6,427 5,248 631 271 18 1,213 292 479 Beam 2,572 — — 607 — — 59 — — EOM 2,339 1,912 838 237 160 — 230 — — Longview 1,745 557 — — — — — — — $ 246,571 $ 131,248 $ 104,126 $ 22,328 $ 13,568 $ 1,394 $ 18,066 $ 19,340 $ 7,769 (1) For the years ended December 31, 2022 and 2021, the Revantage affiliate service provider expenses include $0.6 million and $0.1 million, respectively, of costs incurred for services provided to certain of the Company’s investments in unconsolidated entities. The Company's investments in unconsolidated entities did not incur such expenses during the year ended December 31, 2020. Affiliate service provider expenses and incentive compensation awards are included as a component of Rental Property Operating and Hospitality Operating expense, as applicable, in the Company’s Consolidated Statements of Operations. Transaction support service fees were capitalized to Investments in Real Estate on the Company’s Consolidated Balance Sheets. Neither Blackstone nor the Adviser receives any fees from the aforementioned arrangements. The Company issues incentive compensation awards to certain employees of portfolio company service providers that entitles them to receive an allocation of the Company’s total return over a certain hurdle amount, as determined by the Company. The vesting condition that is based on the achievement of the Company's total return over the hurdle amount is considered a market condition. Any excess of the Company's total return over the hurdle amount, which affects the quantity of awards that vest, is considered a performance condition. If it is considered probable that the performance condition will be met, these awards are amortized over the four-year service period, as adjusted for forfeitures. The Company has determined it is probable that the performance condition would be met for certain awards as of December 31, 2020, 2021, and 2022 and has amortized the value of such awards over the applicable service period. None of Blackstone, the Adviser, or the affiliate portfolio company service providers receive any incentive compensation from the aforementioned arrangements. The following table details the incentive compensation awards ($ in thousands): December 31, 2021 For the Year Ended December 31, 2022 December 31, 2022 Plan Year Unrecognized Compensation Cost Forfeiture of unvested awards Value of Awards Issued Amortization of Compensation Cost Unrecognized Compensation Cost Remaining Amortization Period 2019 $ 1,520 $ (168) $ — $ (1,352) $ — — 2020 — — — — — — 2021 37,201 (3,279) — (10,761) 23,161 2.0 years 2022 — — 35,104 (10,215) 24,889 2.7 years $ 38,721 $ (3,447) $ 35,104 $ (22,328) $ 48,050 Other As of December 31, 2022 and December 31, 2021, the Adviser had advanced $1.5 million and $2.3 million, respectively, of expenses on the Company’s behalf for general corporate expenses provided by unaffiliated third parties. Such expenses are reimbursed by the Company to the Advisor in the ordinary course. Affiliate Title Service Provider Blackstone owns Lexington National Land Services (“LNLS”), a title agent company. LNLS acts as an agent for one or more underwriters in issuing title policies and/or providing support services in connection with investments made by the Company, Blackstone and its affiliates and related parties, and third-parties. LNLS focuses on transactions in rate-regulated states where the cost of title insurance is non-negotiable. LNLS will not perform services in non-regulated states for the Company, other than (i) in the context of a portfolio transaction that includes properties in rate-regulated states, (ii) as part of a syndicate of title insurance companies where the rate is negotiated by other insurers or their agents, (iii) when a third-party is paying all or a material portion of the premium or (iv) when providing only support services to the underwriter. LNLS earns fees, which would have otherwise been paid to third-parties, by providing title agency services and facilitating placement of title insurance with underwriters. Blackstone receives distributions from LNLS in connection with investments by the Company based on its equity interest in LNLS. In each case, there will be no related offset to the Company. During the years ended December 31, 2022 and 2021, the Company paid Lexington National Land Services $27.8 million and $25.7 million, respectively, for title services related to 53 and 54 investments, respectively, and such costs were either (i) capitalized to Investments in Real Estate or (ii) recorded as deferred financing costs, which is a reduction to Mortgage Notes, Secured Term Loans, and Secured Revolving Credit Facilities on the Company’s Consolidated Balance Sheets. Captive Insurance Company On July 28, 2020, the Company became a member of a captive insurance company (the “Captive”) owned by the Company and other investment vehicles managed by Blackstone. A Blackstone affiliate provides oversight and management services to the Captive and receives fees based on a percentage of premiums paid for such policies. The fees and expenses of the Captive, including insurance premiums and fees paid to the Blackstone affiliate to manage it, are borne by the Company and the other Blackstone-managed investment vehicles pro rata based on insurance premiums paid for each party’s respective properties. Other As of December 31, 2022 and 2021, the Company had a receivable of $6.0 million and $3.9 million, respectively, from LivCor and such amount is included in Other Assets on the Company’s Consolidated Balance Sheets. |
Other Assets and Other Liabilit
Other Assets and Other Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Other Assets and Other Liabilities [Abstract] | |
Other Assets and Other Liabilities | Other Assets and Other Liabilities The following table details the components of other assets ($ in thousands): December 31, 2022 December 31, 2021 Interest rate and foreign currency hedging derivatives $ 3,033,595 $ 41,453 Real estate intangibles, net 1,624,212 1,487,436 Receivables, net 821,309 381,201 Equity securities 530,119 3,225,660 Straight-line rent receivable 454,989 275,200 Held-for-sale assets 380,267 196,244 Single family rental homes risk retention securities 300,718 233,525 Prepaid expenses 146,568 151,188 Deferred leasing costs, net 121,230 84,990 Deferred financing costs, net 103,049 51,535 Due from affiliate (1) 74,857 — Pre-acquisition costs 15,915 153,659 Other 275,120 168,642 Total $ 7,881,948 $ 6,450,733 (1) Refer to the Performance Participation Allocation section of Note 10 for additional information. The following table details the components of other liabilities ($ in thousands): December 31, 2022 December 31, 2021 Right of use lease liability - operating leases $ 638,830 $ 180,453 Accounts payable and accrued expenses 470,335 265,754 Accrued interest expense 395,459 215,757 Real estate taxes payable 350,757 211,063 Intangible liabilities, net 330,432 288,643 Held-for-sale liabilities 275,052 114,377 Distribution payable 238,297 190,143 Tenant security deposits 237,891 172,308 Subscriptions received in advance 208,632 1,746,910 Prepaid rental income 188,450 125,250 Stock repurchases payable 151,959 100,540 Securitized debt obligations, net 123,628 200,953 Right of use lease liability - financing leases 77,008 75,730 Interest rate and foreign currency hedging derivatives 50,557 45,597 Other 174,746 250,670 Total $ 3,912,033 $ 4,184,148 |
Intangibles
Intangibles | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangibles | Intangibles The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities consisted of the following ($ in thousands): December 31, 2022 December 31, 2021 Intangible assets In-place lease intangibles $ 2,022,087 $ 1,920,331 Indefinite life intangibles 193,182 104,182 Above-market lease intangibles 71,952 60,383 Other intangibles 371,631 69,634 Total intangible assets 2,658,852 2,154,530 Accumulated amortization In-place lease amortization (971,988) (628,163) Above-market lease amortization (31,419) (22,993) Other intangibles amortization (31,233) (15,938) Total accumulated amortization (1,034,640) (667,094) Intangible assets, net $ 1,624,212 $ 1,487,436 Intangible liabilities Below-market lease intangibles $ 476,186 $ 377,132 Total intangible liabilities 476,186 377,132 Accumulated amortization Below-market lease amortization (145,754) (88,489) Total accumulated amortization (145,754) (88,489) Intangible liabilities, net $ 330,432 $ 288,643 The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of December 31, 2022 is as follows ($ in thousands): In-place Lease Above-market Other Intangibles Below-market 2023 $ 383,807 $ 9,546 $ 46,611 $ (70,309) 2024 171,875 7,987 35,990 (58,768) 2025 128,976 6,410 33,392 (48,406) 2026 99,310 5,106 32,166 (38,275) 2027 70,748 3,551 29,970 (26,776) Thereafter 195,383 7,933 162,269 (87,898) $ 1,050,099 $ 40,533 $ 340,398 $ (330,432) |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Derivatives The Company uses derivative financial instruments to minimize the risks and/or costs associated with the Company’s investments and financing transactions. These derivatives may or may not qualify as net investment, cash flow, or fair value hedges under the hedge accounting requirements of ASC 815 - “Derivatives and Hedging”. Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to interest rate movements, fluctuations in foreign exchange rates, and other identified risks. The use of derivative financial instruments involves certain risks, including the risk that the counterparties to these contractual arrangements do not perform as agreed. To mitigate this risk, the Company enters into derivative financial instruments with counterparties it believes to have appropriate credit ratings and that are major financial institutions with which the Company and its affiliates may also have other financial relationships. Interest Rate Contracts Certain of the Company’s transactions expose the Company to interest rate risks, which include exposure to variable interest rates on certain loans secured by the Company’s real estate in addition to its secured financings of investments in real estate debt. The Company uses derivative financial instruments, which includes interest rate swaps and caps, and may also include options, floors, and other interest rate derivative contracts, to limit the Company’s exposure to the future variability of interest rates. The Company has the right of offset for certain derivatives, and presents them net on the financial statements. The following tables detail the Company’s outstanding interest rate derivatives (notional amount in thousands): December 31, 2022 Interest Rate Derivatives Number of Instruments Notional Amount Weighted Average Strike Index Weighted Average Maturity (Years) Derivatives designated as hedging instruments Interest rate swaps - property debt 20 $ 7,417,852 2.6% LIBOR, SOFR 6.1 Derivatives not designated as hedging instruments Interest rate caps - property debt 135 $ 14,147,947 4.1% LIBOR, SOFR 0.8 Interest rate swaps - property debt 50 25,015,600 2.0% LIBOR, SOFR, EURIBOR 7.3 Interest rate swaps - investments in real estate debt 61 1,392,960 1.4% LIBOR, SOFR 4.1 Total $ 40,556,507 December 31, 2021 Interest Rate Derivatives Number of Instruments Notional Amount Weighted Average Strike Index Weighted Average Maturity (Years) Derivatives not designated as hedging instruments Interest rate swaps - property debt 22 $ 9,500,000 1.3% LIBOR 7.0 Interest rate swaps - investments in real estate debt 54 1,076,210 1.0% LIBOR 4.8 Total $ 10,576,210 Foreign Currency Forward Contracts Certain of the Company’s international investments expose it to fluctuations in foreign currency exchange rates and interest rates. These fluctuations may impact the value of the Company’s cash receipts and payments in terms of its functional currency, the U.S. dollar. The Company uses foreign currency forward contracts to protect the value or fix the amount of certain investments or cash flows in terms of the U.S. dollar. The following table details the Company’s outstanding foreign currency forward contracts that were non-designated hedges of foreign currency risk (notional amount in thousands): December 31, 2022 December 31, 2021 Foreign Currency Forward Contracts Number of Instruments Notional Amount Number of Instruments Notional Amount Buy USD / Sell EUR Forward 14 € 160,206 10 € 552,513 Buy USD / Sell GBP Forward 12 £ 132,563 7 £ 267,368 Buy EUR / Sell USD Forward — € — 1 € 5,978 Buy GBP / Sell USD Forward — £ — 3 £ 15,396 Valuation and Financial Statement Impact The following table details the fair value of the Company’s derivative financial instruments ($ in thousands): Fair Value of Derivatives in an Asset (1) Position Fair Value of Derivatives in a Liability (2) Position December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Derivatives designated as hedging instruments Interest rate swaps - property debt $ 409,260 $ — $ — $ — Total derivatives designated as hedging instruments 409,260 — — — Derivatives not designated as hedging instruments Interest rate caps - property debt (3) 183,392 — 36,173 — Interest rate swaps - property debt 2,310,511 22,089 — 29,796 Interest rate swaps - investments in real estate debt 130,181 19,034 — 8,266 Foreign currency forward contracts 251 330 14,384 7,535 Total derivatives not designated as hedging instruments 2,624,335 41,453 50,557 45,597 Total interest rate and foreign currency hedging derivatives $ 3,033,595 $ 41,453 $ 50,557 $ 45,597 (1) Included in Other Assets in the Company’s Consolidated Balance Sheets. (2) Included in Other Liabilities in the Company’s Consolidated Balance Sheets. (3) Includes interest rate caps with fair value of $237.7 million and $0.0 million presented on a net basis as of December 31, 2022 and December 31, 2021, respectively. The following table details the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income (Loss) ($ in thousands): Type of Derivative Realized/Unrealized Gain (Loss) Location of Gain (Loss) Recognized Year Ended December 31, 2022 2021 2020 Included in Net Income (Loss) Interest rate swap – property debt Unrealized gain (loss) (1) $ 2,262,337 $ (7,711) $ — Interest rate caps – property debt Unrealized gain (1) 180,988 — — Interest rate swap – investments in real estate debt Realized gain (loss) (2) 21,728 (11,335) (6,722) Interest rate swap – investments in real estate debt Unrealized gain (loss) (2) 119,407 57,470 (43,029) Foreign currency forward contract Realized gain (loss) (2) 85,889 27,606 (14,703) Foreign currency forward contract Unrealized (loss) gain (2) (6,865) 8,145 (9,139) Total $ 2,663,484 $ 74,175 $ (73,593) Included in Other Comprehensive Income Interest rate swap – property debt (3) Unrealized gain 408,069 — — Total $ 3,071,553 $ 74,175 $ (73,593) (1) Included in Income from Equity Securities and Interest Rate Derivatives in the Company's Consolidated Statements of Operations. (2) Included in Income (Loss) from Investments in Real Estate Debt in the Company’s Consolidated Statements of Operations. (3) During the year ended December 31, 2022, $79.4 million of net gain was reclassified from accumulated other comprehensive income into net income. Credit-Risk Related Contingent Features The Company has entered into agreements with certain of its derivative counterparties that contain provisions whereby if the Company were to default on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, the Company may also be declared in default under its derivative obligations. In addition, certain of the Company’s agreements with its derivative counterparties require the Company to post collateral based on a percentage of derivative notional amounts and/or to secure net liability positions. As of December 31, 2022, the Company posted collateral of $47.6 million with two of its counterparties as required under the derivative contracts. As of December 31, 2021, the Company was in a net liability position with one of its derivative counterparties and posted collateral of $5.1 million under the derivative contract. |
Equity and Redeemable Non-contr
Equity and Redeemable Non-controlling Interest | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
Equity and Redeemable Non-controlling Interest | Equity and Redeemable Non-controlling Interest Authorized Capital As of December 31, 2022, the Company had the authority to issue 10,600,000,000 shares, consisting of the following: Number of Shares Par Value Per Share Preferred Stock 100,000 $ 0.01 Class S Shares 3,000,000 $ 0.01 Class I Shares 6,000,000 $ 0.01 Class T Shares 500,000 $ 0.01 Class D Shares 500,000 $ 0.01 Class C Shares 500,000 $ 0.01 Total 10,600,000 Common Stock The following table details the movement in the Company’s outstanding shares of common stock (in thousands): Class S Class I Class T Class D Total January 1, 2020 530,813 474,279 39,767 84,657 1,129,516 Common stock issued 196,343 510,136 8,497 43,325 758,301 Distribution reinvestment 20,860 19,363 1,330 3,299 44,852 Common stock repurchased (45,163) (76,735) (3,651) (7,140) (132,689) Independent directors' restricted stock grant (1) — 37 — — 37 December 31, 2020 702,853 927,080 45,943 124,141 1,800,017 Common stock issued 543,534 1,221,551 11,392 164,263 1,940,740 Distribution reinvestment 25,157 30,601 1,360 5,111 62,229 Common stock repurchased (17,196) (92,662) (1,408) (2,428) (113,694) Independent directors' restricted stock grant (1) — 61 — — 61 December 31, 2021 1,254,348 2,086,631 57,287 291,087 3,689,353 Common stock issued 389,405 854,023 16,849 145,677 1,405,954 Distribution reinvestment 31,957 51,138 1,646 8,656 93,397 Common stock repurchased (78,296) (597,103) (3,183) (23,992) (702,574) Independent directors' restricted stock grant (1) — 48 — — 48 December 31, 2022 1,597,414 2,394,737 72,599 421,428 4,486,178 (1) The independent directors’ restricted stock represents $0.7 million, $0.7 million and $0.4 million of the annual compensation paid to each of the independent directors for the years ended December 31, 2022, 2021 and 2020, respectively. The cost of each grant is amortized over the one-year service period for each grant. Share and Unit Repurchases The Company has adopted a Share Repurchase Plan (the “Repurchase Plan”), which is approved and administered by the Company's board of directors, whereby, subject to certain limitations, stockholders may request on a monthly basis that the Company repurchases all or any portion of their shares. The Repurchase Plan will be limited to no more than 2% of the Company’s aggregate NAV per month (measured using the aggregate NAV as of the end of the immediately preceding month) and no more than 5% of the Company’s aggregate NAV per calendar quarter (measured using the average aggregate NAV as of the end of the immediately preceding three months). For the avoidance of doubt, both of these limits are assessed during each month in a calendar quarter. In the event that the Company receives repurchase requests in excess of the 2% or 5% limits, then repurchase requests will be satisfied on a pro rata basis after the Company has repurchased all shares for which repurchase has been requested due to death, disability or divorce and other limited exceptions. Should repurchase requests, in the board of director’s judgment, place an undue burden on its liquidity, adversely affect its operations or risk having an adverse impact on the Company as a whole, or should the board of directors otherwise determine that investing its liquid assets in real properties or other investments rather than repurchasing its shares is in the best interests of the Company as a whole, then the Company may choose to repurchase fewer shares than have been requested to be repurchased (including relative to the 2% monthly limit and 5% quarterly limit under the share repurchase plan), or none at all. Further, the Company’s board of directors may make exceptions to, modify, or suspend the Company’s share repurchase plan (including to make exceptions to the repurchase limitations, or repurchase less shares than such repurchase limitations) if it deems such action to be in the Company’s best interest and the best interest of its stockholders. For the year ended December 31, 2022, the Company repurchased 702.6 million shares of common stock and 3.5 million BREIT OP units for a total of $10.5 billion. For the year ended December 31, 2021, the Company repurchased 113.7 million shares of common stock and 0.2 million BREIT OP units for a total of $1.4 billion. For the year ended December 31, 2020, the Company repurchased 132.7 million shares of common stock and 7.7 million BREIT OP units for a total of $1.5 billion. During 2022, the Company fulfilled all repurchase requests through October 31, 2022. During the months ended November 30, 2022 and December 31, 2022, the Company received repurchase requests that exceeded the applicable repurchase limits under the Company's share repurchase plan. For the months ended November 30, 2022 and December 31, 2022, in accordance with the share repurchase plan, the Company fulfilled repurchases equal to 2.0% and 0.2% of NAV, or 43% and 4% of repurchase requests, respectively. The Company fulfilled all repurchase requests during the year ended December 31, 2021. Distributions The Company generally intends to distribute substantially all of its taxable income, which does not necessarily equal net income as calculated in accordance with GAAP, to its stockholders each year to comply with the REIT provisions of the Internal Revenue Code. Each class of common stock receives the same gross distribution per share. The net distribution varies for each class based on the applicable stockholder servicing fee, which is deducted from the monthly distribution per share and paid directly to the applicable distributor. The following table details the aggregate distributions declared for each applicable class of common stock: Year Ended December 31, 2022 Class S Class I Class T Class D Aggregate gross distributions declared per share of common stock $ 0.6685 $ 0.6685 $ 0.6685 $ 0.6685 Stockholder servicing fee per share of common stock (0.1273) — (0.1254) (0.0366) Net distributions declared per share of common stock $ 0.5412 $ 0.6685 $ 0.5431 $ 0.6319 Year Ended December 31, 2021 Class S Class I Class T Class D Aggregate gross distributions declared per share of common stock $ 0.6508 $ 0.6508 $ 0.6508 $ 0.6508 Stockholder servicing fee per share of common stock (0.1096) — (0.1081) (0.0317) Net distributions declared per share of common stock $ 0.5412 $ 0.6508 $ 0.5427 $ 0.6191 Year Ended December 31, 2020 Class S Class I Class T Class D Aggregate gross distributions declared per share of common stock $ 0.6354 $ 0.6354 $ 0.6354 $ 0.6354 Stockholder servicing fee per share of common stock (0.0942) — (0.0929) (0.0274) Net distributions declared per share of common stock $ 0.5412 $ 0.6354 $ 0.5425 $ 0.6080 Distributions for the year ended December 31, 2022 were characterized, for federal income tax purposes, as 5.65% capital gains and 94.35% return of capital. Distributions for the year ended December 31, 2021 were characterized, for federal income tax purposes, as 4.73% ordinary income, 3.36% capital gains and 91.91% return of capital. Of the 4.73% characterized as ordinary income, all 4.73% were non-qualified. Distributions for the year ended December 31, 2020 were characterized, for federal income tax purposes, as 100.00% return of capital. Redeemable Non-controlling Interest In connection with its performance participation interest, the Special Limited Partner holds Class I units in BREIT OP. See Note 10 for further details of the Special Limited Partner’s performance participation interest. Because the Special Limited Partner has the ability to redeem its Class I units for Class I shares in the Company or cash, at the election of the Special Limited Partner, the Company has classified these Class I units as Redeemable Non-controlling Interest in mezzanine equity on the Company’s Consolidated Balance Sheets. The following table details the redeemable non-controlling interest activity related to the Special Limited Partner for the year ended December 31, 2022 and 2021 ($ in thousands): Year Ended December 31, 2022 2021 Balance at the beginning of the year $ 589,900 $ 274 Settlement of current year performance participation allocation 817,527 1,378,959 Settlement of prior year performance participation allocation — 192,648 Repurchases (26,639) (111,949) Conversion to Class I and Class B units (435,238) (68,453) Conversion to Class I shares (599,219) (801,645) GAAP income allocation (5,024) (6) Distributions (10,256) (15) Fair value allocation 13,094 87 Balance at the end of the year $ 344,145 $ 589,900 In addition to the Special Limited Partner’s interest noted above, certain of the Company’s third party joint ventures also have a redeemable non-controlling interest in such joint ventures. As of December 31, 2022 and December 31, 2021, $209.3 million and $160.8 million, respectively, related to such third party joint ventures was included in Redeemable Non-controlling Interests on the Company’s Consolidated Balance Sheets. The Redeemable Non-controlling Interests are recorded at the greater of (i) their carrying amount, adjusted for their share of the allocation of GAAP net income (loss) and distributions, or (ii) their redemption value, which is equivalent to the fair value of such interests at the end of each measurement period. Accordingly, the Company recorded an allocation adjustment of $39.3 million, $103.4 million and $8.8 million, during the years ended December 31, 2022, 2021, and 2020 respectively, between Additional Paid-in Capital and Redeemable Non-controlling Interest. Non-controlling Interests - BREIT OP unitholders Class B Units in BREIT OP are available to certain suitable investors in private placements. Class B Units are sold at their NAV per unit, which will equal the NAV per Class I unit of BREIT OP and will generally correspond to the NAV per share of the Company’s Class I shares. Class B Units are subject to the same fees and expenses of Class I Units and do not have any preferential rights relative to the Company’s interest in BREIT OP, nor are they exchangeable for any shares of the Company’s common stock. Holders of the Class B Units have a right to redeem their units for cash in a manner similar to the ability of the Company’s stockholders to have their shares repurchased under the Company’s share repurchase plan. Class B Unit redemptions are subject to similar limitations as share repurchases under the Company’s share repurchase plan, namely the early repurchase deduction and caps on monthly and quarterly repurchases. Class B Units have the same limited voting rights as the other BREIT OP units and such rights do not affect the Company’s exclusive power, as general partner of BREIT OP, to manage and conduct the business of BREIT OP. During the year ended December 31, 2022, BREIT OP received $110.0 million in Class B Unit subscriptions from affiliates of the Company. No such subscriptions were received during the year ended December 31, 2021. As of December 31, 2022 and 2021, there were 21.7 million and 10.1 million Class B Units outstanding, respectively. Class B Units are recorded as a component of Non-controlling Interests on the Company’s Consolidated Balance Sheets. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Leases | Leases Lessor The Company’s rental revenue primarily consists of rent earned from operating leases at the Company’s rental housing, industrial, net lease, data centers, self storage, retail, and office properties. Leases at the Company’s industrial, data centers, retail, and office properties generally include a fixed base rent, and certain leases also contain a variable rent component. The variable component of the Company’s operating leases at its industrial, data centers, retail, and office properties primarily consist of the reimbursement of operating expenses such as real estate taxes, insurance, and common area maintenance costs. Rental revenue earned from leases at the Company’s rental housing properties primarily consist of a fixed base rent, and certain leases contain a variable component that allows for the pass-through of certain operating expenses such as utilities. Rental revenue earned from leases at the Company’s self storage properties primarily consist of a fixed base rent only. Rental revenue from leases at the Company’s net lease properties consists of a fixed annual rent that escalates annually throughout the term of the applicable leases, and the tenant is generally responsible for all property-related expenses, including taxes, insurance, and maintenance. Both of the Company's net lease properties are leased to a single tenant. The Company assessed the lease classification of the net lease properties and determined the leases were both operating leases. The Company’s assessment included the consideration of the present value of the applicable lease payments over the lease terms and the residual value of the leased assets. Leases at the Company’s industrial, net lease, data centers, retail, and office properties are generally longer term (greater than 12 months in length), and may contain extension and termination options at the lessee’s election. Often, these leases have annual escalations that are tied to the CPI index. Leases at the Company’s rental housing and self storage properties are short term in nature, generally not greater than 12 months in length. The following table details the components of operating lease income from leases in which the Company is the lessor ($ in thousands): Year Ended December 31, 2022 2021 2020 Fixed lease payments $ 6,152,782 $ 2,860,344 $ 2,031,411 Variable lease payments 411,337 280,184 204,461 Rental revenue $ 6,564,119 $ 3,140,528 $ 2,235,872 The following table presents the undiscounted future minimum rents the Company expects to receive for its industrial, net lease, data centers, retail, and office properties as of December 31, 2022 ($ in thousands). Leases at the Company’s rental housing and self storage properties are short term, generally 12 months or less, and are therefore not included. Year Future Minimum Rents 2023 $ 1,686,971 2024 1,597,245 2025 1,469,306 2026 1,338,977 2027 1,154,429 Thereafter 16,624,401 Total $ 23,871,329 Lessee Certain of the Company’s investments in real estate are subject to ground leases. The Company’s ground leases are classified as either operating leases or financing leases based on the characteristics of each lease. As of December 31, 2022, the Company had 95 ground leases classified as operating and three ground leases classified as financing. Each of the Company’s ground leases were acquired as part of the acquisition of real estate, and no incremental costs were incurred for such ground leases. The Company’s ground leases are non-cancelable and certain operating leases contain renewal options. The following table details the future lease payments due under the Company’s ground leases as of December 31, 2022 ($ in thousands): Operating Financing 2023 $ 36,311 $ 4,150 2024 37,070 4,266 2025 37,687 4,385 2026 37,851 4,507 2027 38,250 4,633 Thereafter 2,613,738 564,142 Total undiscounted future lease payments 2,800,907 586,083 Difference between undiscounted cash flows and discounted cash flows (2,162,077) (509,075) Total lease liability $ 638,830 $ 77,008 The Company utilized its incremental borrowing rate at the time of entering such leases, which was between 5% and 7%, to determine its lease liabilities. As of December 31, 2022, the weighted average remaining lease term of the Company’s operating leases and financing leases was 61 years and 78 years, respectively. Payments under the Company’s ground leases primarily contain fixed payment components that may include periodic increases based on an index or periodic fixed percentage escalations. Three of the Company’s ground leases contains a variable component based on a percentage of revenue. The following table details the fixed and variable components of the Company’s operating leases ($ in thousands): Year Ended December 31, 2022 2021 2020 Fixed ground rent expense $ 22,789 $ 4,904 $ 4,038 Variable ground rent expense 1,042 36 18 Total cash portion of ground rent expense 23,831 4,940 4,056 Straight-line ground rent expense 13,552 7,488 6,737 Total operating lease costs $ 37,383 $ 12,428 $ 10,793 The following table details the fixed and variable components of the Company’s financing leases ($ in thousands): Year Ended December 31, 2022 2021 2020 Interest on lease liabilities $ 4,038 $ 3,403 $ 2,991 Amortization of right-of-use assets 1,278 1,139 991 Total financing lease costs $ 5,316 $ 4,542 $ 3,982 |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
Segment Reporting | Segment Reporting The Company operates in nine reportable segments: Rental Housing, Industrial, Net Lease, Hospitality, Office, Data Centers, Retail, and Self Storage properties, and Investments in Real Estate Debt. The Company allocates resources and evaluates results based on the performance of each segment individually. The Company believes that Segment Net Operating Income is the key performance metric that captures the unique operating characteristics of each segment. The following table details the total assets by segment ($ in thousands): December 31, 2022 December 31, 2021 Rental Housing $ 68,464,413 $ 44,167,486 Industrial 21,624,736 20,898,801 Net Lease 9,011,326 5,219,519 Hospitality 3,768,473 3,084,271 Office 3,293,163 1,232,392 Data Centers 3,203,585 1,905,660 Retail 2,722,839 1,689,575 Self Storage 2,247,351 1,886,376 Investments in Real Estate Debt and Real Estate Loans Held by Consolidated Securitization Vehicles, at Fair Value 25,363,546 24,221,005 Other (Corporate) 2,987,992 2,033,779 Total assets $ 142,687,424 $ 106,338,864 The following table details the financial results by segment for the year ended December 31, 2022 ($ in thousands): Rental Housing Industrial Net Hospitality Office Data Centers Retail Self Investments in Total Revenues: Rental revenue $ 4,116,088 $ 1,364,640 $ 499,789 $ — $ 138,241 $ 44,673 $ 187,055 $ 213,633 $ — $ 6,564,119 Hospitality revenue — — — 721,654 — — — — — 721,654 Other revenue 286,819 34,985 — 12,930 8,112 — 3,272 14,487 — 360,605 Total revenues 4,402,907 1,399,625 499,789 734,584 146,353 44,673 190,327 228,120 — 7,646,378 Expenses: Rental property operating 2,253,142 438,479 1,883 — 40,234 6,943 69,614 106,641 — 2,916,936 Hospitality operating — — — 508,868 — — — — — 508,868 Total expenses 2,253,142 438,479 1,883 508,868 40,234 6,943 69,614 106,641 — 3,425,804 (Loss) income from unconsolidated entities (79,148) 319,807 99,879 6,303 4,493 (168,078) (1,007) — — 182,249 Loss from investments in real estate debt — — — — — — — — (27,073) (27,073) Change in net assets of consolidated securitization vehicles — — — — — — — — (42,119) (42,119) (Loss) Income from investments in equity securities (1) (346,773) (47,969) 27,334 $ — (109,129) — — — — (476,537) Segment net operating income (loss) $ 1,723,844 $ 1,232,984 $ 625,119 $ 232,019 $ 1,483 $ (130,348) $ 119,706 $ 121,479 $ (69,192) $ 3,857,094 Depreciation and amortization $ (2,617,389) $ (804,108) $ (172,647) $ (120,531) $ (70,721) $ (19,639) $ (168,024) $ (125,307) $ — $ (4,098,366) General and administrative (52,652) Management fee (837,687) Performance participation allocation (742,670) Impairment of investments in real estate (33,554) Income from interest rate derivatives (1) 2,444,086 Net gain on dispositions of real estate 808,846 Interest expense (2,325,204) Loss on extinguishment of debt (11,476) Other expense (88,725) Net loss $ (1,080,308) Net loss attributable to non-controlling interests in third party joint ventures $ 173,109 Net loss attributable to non-controlling interests in BREIT OP 23,680 Net loss attributable to BREIT stockholders $ (883,519) (1) Included within income from equity securities and interest rate derivatives on the Consolidated Statements of Operations is $520.8 million net unrealized/realized loss related to such equity securities. The following table details the financial results by segment for the year ended December 31, 2021 ($ in thousands): Rental Housing Industrial Net Hospitality Office Data Centers Retail Self Investments in Total Revenues: Rental revenue $ 1,544,909 $ 982,137 $ 331,178 $ — $ 46,570 $ 28,586 $ 64,079 $ 143,069 $ — $ 3,140,528 Hospitality revenue — — — 412,338 — — — — — 412,338 Other revenue 109,211 12,413 — 10,287 344 — 2,157 9,393 — 143,805 Total revenues 1,654,120 994,550 331,178 422,625 46,914 28,586 66,236 152,462 — 3,696,671 Expenses: Rental property operating 780,321 306,016 1,331 — 12,557 4,080 20,712 67,554 — 1,192,571 Hospitality operating — — — 316,144 — — — — — 316,144 Total expenses 780,321 306,016 1,331 316,144 12,557 4,080 20,712 67,554 — 1,508,715 (Loss) Income from unconsolidated entities (17,461) 194,743 100,276 — — (71,745) 167 — — 205,980 Income from investments in real estate debt — — — — — — — — 391,867 391,867 Change in net assets of consolidated securitization vehicles — — — — — — — — 106,240 106,240 Income from investments in equity securities (1) 640,731 174,866 56,765 — 11,897 — — — — 884,259 Segment net operating income $ 1,497,069 $ 1,058,143 $ 486,888 $ 106,481 $ 46,254 $ (47,239) $ 45,691 $ 84,908 $ 498,107 $ 3,776,302 Depreciation and amortization $ (933,418) $ (576,793) $ (114,409) $ (93,911) $ (22,127) $ (12,485) $ (28,917) $ (137,872) $ — $ (1,919,932) General and administrative (32,046) Management fee (445,291) Performance participation allocation (1,378,959) Income from interest rate derivatives (1) 10,285 Net gain on dispositions of real estate 7,881 Interest expense (834,852) Loss on extinguishment of debt (16,331) Other expense (3,221) Net loss $ (836,164) Net loss attributable to non-controlling interests in third party joint ventures $ 22,090 Net loss attributable to non-controlling interests in BREIT OP 9,291 Net loss attributable to BREIT stockholders $ (804,783) (1) Included within income from equity securities and interest rate derivatives on the Consolidated Statements of Operations is $848.2 million unrealized gain related to such equity securities. The following table details the financial results by segment for the year ended December 31, 2020 ($ in thousands): Rental Housing Industrial Net Hospitality Office Data Centers Retail Self Investments in Total Revenues: Rental revenue $ 976,873 $ 811,490 $ 331,178 $ — $ 16,368 $ 23,042 $ 54,047 $ 22,874 $ — $ 2,235,872 Hospitality revenue — — — 248,909 — — — — — 248,909 Other revenue 50,256 5,438 — 6,397 502 — 1,198 3,076 — 66,867 Total revenues 1,027,129 816,928 331,178 255,306 16,870 23,042 55,245 25,950 — 2,551,648 Expenses: Rental property operating 471,413 240,792 701 — 5,540 3,039 17,541 12,753 — 751,779 Hospitality operating — — — 261,472 — — — — — 261,472 Total expenses 471,413 240,792 701 261,472 5,540 3,039 17,541 12,753 — 1,013,251 Income from unconsolidated entities — — 88,571 — — — — — — 88,571 Loss from investments in real estate debt — — — — — — — — (74,353) (74,353) Change in net assets of consolidated securitization vehicles — — — — — — — — (46,564) (46,564) Income from investments in equity securities (1) 37,679 14,005 12,578 — 2,194 — — — — 66,456 Segment net operating income $ 593,395 $ 590,141 $ 431,626 $ (6,166) $ 13,524 $ 20,003 $ 37,704 $ 13,197 $ (120,917) $ 1,572,507 Depreciation and amortization $ (544,927) $ (540,023) $ (114,530) $ (90,820) $ (9,741) $ (10,098) $ (32,528) $ (19,484) $ — $ (1,362,151) General and administrative (25,653) Management fee (224,776) Performance participation allocation (192,648) Loss from interest rate derivatives (1) (548) Impairment of investments in real estate (12,343) Net gain on dispositions of real estate 113,173 Interest expense (712,383) Loss on extinguishment of debt (10,356) Other expense (12,224) Net loss $ (867,402) Net loss attributable to non-controlling interests in third party joint ventures $ 2,417 Net loss attributable to non-controlling interests in BREIT OP 11,586 Net loss attributable to BREIT stockholders $ (853,399) (1) Included within income from equity securities and interest rate derivatives on the Consolidated Statements of Operations is $43.7 million net unrealized/realized gain related to such equity securities. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Litigation From time to time, the Company may be involved in various claims and legal actions arising in the ordinary course of business. As of December 31, 2022 and December 31, 2021, the Company was not involved in any material legal proceedings. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events UC Investment As of January 1, 2023, the Regents of the University of California (“UC Investments”), subscribed for an aggregate 268.9 million of the Company’s Class I shares for a total purchase price of $4.0 billion. The investment was made at the Company’s January 1, 2023 public offering price with fees and terms consistent with existing shareholders. In connection with this investment, a subsidiary of Blackstone entered into a long-term strategic venture with UC Investments. Blackstone contributed $1.0 billion of its current holdings in the Company as part of the strategic venture, which provides a waterfall structure with UC Investments receiving a 11.25% minimum annualized net return on its investment in the Company’s shares (supported by a pledge of Blackstone’s contribution) and upside from its investment. In exchange, Blackstone will be entitled to receive an incremental 5% cash promote payment from UC Investments on any returns received in excess of the specified minimum, in addition to the existing management and incentive fees borne by all holders of Class I shares of the Company. The pledge will also extend to any appreciation and dividends received by Blackstone in respect of the contributed $1.0 billion. After January 2028, the parties have the option to request repurchase of their investments ratably over two years (a minimum average 6-year hold). MGM Grand and Mandalay Bay Disposition |
Real Estate and Accumulated Dep
Real Estate and Accumulated Depreciation Schedule III | 12 Months Ended |
Dec. 31, 2022 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Real Estate and Accumulated Depreciation Schedule III | Schedule III—Real Estate and Accumulated Depreciation as of December 31, 2022 ($ in thousands) Initial Cost Costs Capitalized Gross Amounts at which Carried at the Close of Period (1) Description Location Number of Properties Encumbrances (2) Land and Land Building and Building Improvements Land and Land Building and Building Improvements Land and Land Building and Building Improvements Total Accumulated Depreciation (3) Year Acquired Rental Housing Properties: Multifamily Properties Atlanta, GA 37 $ 2,058,718 $ 467,575 $ 2,758,164 $ 4,261 $ 32,067 $ 471,836 $ 2,790,231 $ 3,262,067 $ (188,108) 2017-2022 Austin, TX 42 2,044,681 458,844 2,677,279 8,290 24,585 467,134 2,701,864 3,168,998 (182,598) 2017-2022 Beaumont, TX 1 18,717 4,476 42,119 — 14 4,476 42,134 46,610 (777) 2022 Birmingham, AL 2 74,424 13,959 162,873 — 24 13,959 162,897 176,856 (3,104) 2022 Boston, MA 4 348,937 130,391 593,010 393 6,180 130,784 599,190 729,974 (31,743) 2018-2022 Boulder, CO 1 49,528 11,045 98,486 19 118 11,064 98,603 109,667 (2,261) 2022 Charleston, SC 2 50,114 12,861 83,365 332 598 13,193 83,963 97,156 (6,969) 2019-2022 Charlotte, NC 21 887,302 189,737 1,193,440 3,382 12,007 193,119 1,205,447 1,398,566 (85,436) 2019-2022 Chicago, IL 2 64,708 18,924 100,248 714 2,775 19,639 103,023 122,662 (10,855) 2017-2022 Columbus, OH 4 211,359 37,489 193,939 405 2,260 37,894 196,199 234,093 (18,334) 2020-2021 Dayton, OH 1 10,955 1,743 21,803 — 82 1,743 21,884 23,627 (499) 2022 Denver, CO 14 843,967 158,744 1,169,549 3,419 17,231 162,164 1,186,780 1,348,944 (90,685) 2017-2022 Durham, NC 3 109,375 33,708 171,592 219 453 33,927 172,045 205,972 (12,340) 2020-2022 Fort Collins, CO 2 91,341 11,543 108,985 410 1,524 11,953 110,509 122,462 (14,523) 2019 Greenville, SC 2 62,654 13,203 67,595 281 823 13,484 68,418 81,902 (3,331) 2021 Houston, TX 6 195,946 58,668 309,857 409 1,092 59,077 310,949 370,026 (10,230) 2021-2022 Jacksonville, FL 14 530,816 132,402 931,741 2,085 9,490 134,487 941,231 1,075,718 (61,102) 2017-2022 Kansas City, MO 3 118,304 20,906 155,705 164 524 21,070 156,229 177,299 (9,687) 2020-2022 Lakeland, FL 2 112,716 19,475 123,539 288 2,308 19,763 125,847 145,610 (8,794) 2019-2022 Las Vegas, NV 25 1,407,180 322,064 1,605,185 5,218 16,931 327,282 1,622,116 1,949,398 (200,578) 2017-2022 Los Angeles, CA 1 51,108 10,795 44,758 90 170 10,885 44,928 55,813 (6,147) 2019 Louisville, KY 6 76,300 12,381 106,946 817 2,118 13,198 109,064 122,262 (11,185) 2017-2022 Miami, FL 8 672,666 167,319 728,244 2,593 13,400 169,912 741,645 911,557 (76,768) 2017-2021 Minneapolis, MN 3 97,317 28,928 161,038 102 505 29,030 161,542 190,572 (4,270) 2021-2022 Modesto, CA 2 48,222 5,006 68,782 467 1,839 5,473 70,621 76,094 (12,604) 2017-2018 Naples, FL 1 49,974 14,247 106,176 — 203 14,247 106,379 120,626 (1,971) 2022 Nashville, TN 7 293,377 49,673 434,061 218 1,796 49,891 435,857 485,748 (20,498) 2017-2022 New York, NY 1 569,603 203,518 609,621 — 810 203,518 610,431 813,949 (11,073) 2022 North Port, FL 3 119,812 28,937 280,044 64 504 29,001 280,548 309,549 (7,286) 2021-2022 Olympia, WA 2 77,328 20,455 84,588 696 4,434 21,152 89,022 110,174 (18,357) 2017-2018 Orlando, FL 21 1,123,018 244,748 1,568,305 10,519 15,787 255,267 1,584,092 1,839,359 (124,555) 2017-2022 Palm Bay, FL 1 33,836 9,819 78,096 — 52 9,819 78,148 87,967 (1,445) 2022 Panama City, FL 1 44,502 8,090 78,217 — 52 8,090 78,269 86,359 (1,512) 2022 Philadelphia, PA 1 10,369 4,685 22,635 — 171 4,685 22,806 27,491 (525) 2022 Phoenix, AZ 23 1,289,725 327,650 1,595,637 4,308 24,790 331,959 1,620,427 1,952,386 (162,209) 2017-2022 Pittsburgh, PA 1 31,373 6,655 58,150 — 39 6,655 58,189 64,844 (1,124) 2022 Portland, OR 7 307,363 83,713 383,331 550 4,569 84,263 387,900 472,163 (40,707) 2017-2022 Raleigh, NC 9 489,045 74,447 587,437 1,028 4,570 75,474 592,007 667,481 (43,378) 2019-2022 Initial Cost Costs Capitalized Gross Amounts at which Carried at the Close of Period (1) Description Location Number of Properties Encumbrances (2) Land and Land Building and Building Improvements Land and Land Building and Building Improvements Land and Land Building and Building Improvements Total Accumulated Depreciation (3) Year Acquired Richmond, VA 1 $ 30,018 $ 9,632 $ 66,074 $ — $ 62 $ 9,632 $ 66,136 $ 75,768 $ (1,265) 2022 Riverside, CA 5 280,471 52,051 396,110 1,086 9,261 53,137 405,371 458,508 (47,729) 2019-2021 Sacramento, CA 2 121,672 22,383 153,733 694 4,276 23,076 158,009 181,085 (27,704) 2018-2019 San Antonio, TX 4 122,966 19,005 134,959 716 2,244 19,721 137,202 156,923 (15,259) 2017-2021 San Diego, CA 1 36,301 33,055 71,972 52 313 33,106 72,284 105,390 (1,710) 2022 Savannah, GA 1 29,734 5,613 35,434 160 17 5,773 35,451 41,224 (5,430) 2019 Seattle, WA 4 210,208 49,100 271,348 933 4,833 50,033 276,181 326,214 (23,746) 2018-2021 Stockton, CA 2 79,001 22,811 116,339 — 32 22,811 116,370 139,181 (1,628) 2022 Tampa, FL 17 732,208 169,210 1,209,156 1,935 6,747 171,145 1,215,903 1,387,048 (58,849) 2019-2022 Urban Honolulu, HI 1 17,904 95,193 550,923 1,059 5,963 96,253 556,886 653,139 (28,436) 2021 Virginia Beach, VA 1 28,417 10,115 64,927 — 67 10,115 64,994 75,109 (1,276) 2022 Washington, DC 2 80,900 19,600 97,949 30 172 19,629 98,120 117,749 (1,937) 2022 Wilmington, NC 1 — 1,717 8,239 — 13,091 1,717 21,330 23,047 — 2022 Manufactured Housing Arcadia, FL 1 23,217 28,688 8,264 519 2,252 29,207 10,516 39,723 (2,305) 2020 Atlanta, GA 2 15,334 35,491 1,760 1,331 74 36,822 1,834 38,656 (3,439) 2020 Cape Coral, FL 1 — 9,036 1,044 2,901 117 11,938 1,160 13,098 (470) 2020 Cincinnati, OH 1 23,381 33,479 2,999 80 13 33,559 3,012 36,571 (4,199) 2020 Clewiston, FL 2 24,315 38,593 1,693 389 294 38,982 1,987 40,969 (2,726) 2020 Gainesville, FL 3 — 8,755 1,524 46 571 8,800 2,095 10,895 (410) 2020 Lakeland, FL 2 20,662 30,698 754 1,093 538 31,791 1,292 33,083 (2,297) 2019-2020 Los Angeles, CA 1 5,350 14,621 767 28 448 14,649 1,215 15,864 (614) 2021 Miami, FL 3 82,188 132,039 2,032 997 1,543 133,037 3,575 136,612 (4,149) 2020-2021 Naples, FL 1 — 3,664 383 409 1,615 4,073 1,999 6,072 (436) 2019 Orlando, FL 7 66,481 173,086 9,799 5,677 3,838 178,764 13,637 192,401 (9,346) 2018-2020 Palm Bay, FL 2 19,289 32,460 1,216 257 3 32,717 1,219 33,936 (1,596) 2020 Phoenix, AZ 26 196,925 287,904 12,313 6,913 2,816 294,817 15,129 309,946 (35,103) 2018-2020 Prescott Valley, AZ 2 8,815 10,329 785 394 74 10,723 859 11,582 (1,666) 2018-2020 Riverside, CA 2 18,971 22,443 900 928 130 23,371 1,030 24,401 (3,777) 2018 San Diego, CA 1 5,190 6,236 309 246 20 6,482 330 6,812 (927) 2018 Santa Rosa, CA 2 25,387 21,030 2,244 180 269 21,210 2,512 23,722 (1,620) 2020-2021 Seattle, WA 1 14,593 23,000 907 249 79 23,249 985 24,234 (1,249) 2020 Sebastian, FL 1 11,756 19,117 983 402 688 19,519 1,671 21,190 (1,348) 2020 Tampa, FL 6 47,820 84,650 4,077 1,117 489 85,767 4,566 90,333 (5,581) 2019-2020 The Villages, FL 2 8,799 9,036 4,931 1,259 348 10,294 5,279 15,573 (1,531) 2020 Tucson, AZ 1 9,820 12,620 1,838 69 1,314 12,689 3,151 15,840 (812) 2020 Student Housing Akron, OH 2 68,212 9,089 83,173 45 711 9,134 83,885 93,019 (6,762) 2018-2022 Albuquerque, NM 2 72,477 3,982 104,201 — 86 3,982 104,287 108,269 (1,578) 2022 Ames, IA 1 48,370 7,612 69,576 — 326 7,612 69,902 77,514 (760) 2022 Ann Arbor, MI 4 141,471 25,055 184,864 — 414 25,055 185,278 210,333 (2,894) 2022 Athens, GA 4 123,500 21,117 162,627 40 563 21,157 163,190 184,347 (13,435) 2018-2022 Atlanta, GA 4 316,900 42,495 397,123 57 1,750 42,552 398,873 441,425 (11,516) 2021-2022 Auburn, AL 4 180,324 26,966 245,737 105 616 27,072 246,353 273,425 (9,833) 2018-2022 Initial Cost Costs Capitalized Gross Amounts at which Carried at the Close of Period (1) Description Location Number of Properties Encumbrances (2) Land and Land Building and Building Improvements Land and Land Building and Building Improvements Land and Land Building and Building Improvements Total Accumulated Depreciation (3) Year Acquired Austin, TX 18 $ 605,264 $ 246,939 $ 1,080,811 $ — $ 5,546 $ 246,939 $ 1,086,357 $ 1,333,296 $ (12,749) 2022 Baton Rouge, LA 1 53,250 10,134 60,790 43 53 10,176 60,843 71,019 (1,591) 2022 Binghamton, NY 1 116,700 23,571 145,350 — 845 23,571 146,195 169,766 (1,660) 2022 Blacksburg, CA 1 — 1,700 — — — 1,700 — 1,700 — 2022 Blacksburg, VA 1 64,532 12,698 71,693 275 504 12,973 72,197 85,170 (11,101) 2018 Boone, NC 1 49,900 4,599 73,835 — 196 4,599 74,032 78,631 (3,481) 2021 Boston, MA 3 135,477 14,260 259,361 — 1,356 14,260 260,717 274,977 (2,933) 2022 Boulder, CO 6 201,363 56,834 282,737 59 3,430 56,892 286,167 343,059 (13,740) 2018-2022 Buffalo, NY 5 164,635 69,684 225,816 — 629 69,684 226,444 296,128 (5,473) 2021-2022 Carbondale, IL 1 — 3,100 — — — 3,100 — 3,100 — 2022 Champaign, IL 5 84,790 8,851 119,403 — 4,255 8,851 123,658 132,509 (1,297) 2022 Charlotte, NC 3 103,080 21,003 121,273 — 754 21,003 122,027 143,030 (1,406) 2022 Charlottesville, VA 3 68,438 5,118 94,048 671 4,110 5,789 98,158 103,947 (14,253) 2018 College Station, TX 5 225,737 76,636 277,661 — 2,849 76,636 280,510 357,146 (2,457) 2022 Columbia, MO 1 52,430 5,320 99,308 — 607 5,320 99,915 105,235 (1,051) 2022 Columbia, SC 1 36,155 11,100 68,885 — 97 11,100 68,982 80,082 (2,128) 2022 Columbus, OH 1 — — 244 — — — 244 244 — 2022 Corvallis, OR 2 39,552 10,155 45,229 — 180 10,155 45,409 55,564 (838) 2022 Eugene, OR 5 217,850 22,111 293,082 — 570 22,111 293,652 315,763 (3,805) 2022 Fayetteville, AR 1 36,224 11,153 36,193 86 518 11,239 36,711 47,950 (1,059) 2022 Flagstaff, AZ 5 303,040 8,414 416,453 — 1,103 8,414 417,556 425,970 (5,118) 2022 Fort Collins, CO 3 137,400 11,297 181,443 22 123 11,319 181,566 192,885 (4,770) 2021-2022 Fresno, CA 1 17,970 4,757 20,238 — 344 4,757 20,583 25,340 (281) 2022 Gainesville, FL 3 103,020 21,090 145,160 — 64 21,090 145,224 166,314 (1,574) 2022 Greensboro, NC 1 35,700 8,291 61,433 — 36 8,291 61,469 69,760 (685) 2022 Greenville, NC 1 45,961 8,458 45,948 76 2,389 8,535 48,338 56,873 (6,940) 2018 Greenville, SC 2 35,756 855 62,239 — 66 855 62,306 63,161 (672) 2022 Houston, TX 5 63,972 1,824 58,724 — 719 1,824 59,443 61,267 (3,953) 2022 Huntington, WV 1 12,450 2,206 15,530 — 590 2,206 16,120 18,326 (200) 2022 Huntsville, TX 1 24,840 6,831 31,778 — 109 6,831 31,887 38,718 (445) 2022 Indianapolis, IN 2 110,803 577 150,355 — 414 577 150,769 151,346 (1,615) 2022 Knoxville, TN 3 158,400 28,669 194,922 61 2,071 28,731 196,993 225,724 (7,172) 2021-2022 Lafayette, IN 2 93,400 9,674 141,640 — 698 9,674 142,338 152,012 (1,476) 2022 Lansing, MI 1 65,220 12,317 79,443 — 30 12,317 79,473 91,790 (943) 2022 Laredo, TX 1 447 — 861 — 33 — 894 894 (331) 2022 Lexington, KY 4 161,490 47,160 184,088 — 233 47,160 184,321 231,481 (2,179) 2022 Los Angeles, CA 1 58,341 783 118,187 — 14 783 118,201 118,984 (1,283) 2022 Louisville, KY 5 145,516 36,787 178,455 236 1,487 37,022 179,941 216,963 (6,512) 2018-2022 Lubbock, TX 7 271,526 57,660 337,160 — 463 57,660 337,623 395,283 (3,999) 2022 Madison, WI 1 98,700 7,410 163,875 — 191 7,410 164,066 171,476 (1,716) 2022 Mankato, MN 1 38,160 7,286 52,185 — 63 7,286 52,248 59,534 (620) 2022 Minneapolis, MN 2 51,689 14,945 75,754 — 934 14,945 76,687 91,632 (900) 2022 Morgantown, WV 2 73,837 10,301 73,206 — 132 10,301 73,338 83,639 (904) 2022 Nashville, TN 1 — 11,700 614 — — 11,700 614 12,314 — 2022 Initial Cost Costs Capitalized Gross Amounts at which Carried at the Close of Period (1) Description Location Number of Properties Encumbrances (2) Land and Land Building and Building Improvements Land and Land Building and Building Improvements Land and Land Building and Building Improvements Total Accumulated Depreciation (3) Year Acquired New York, NY 1 $ 43,809 $ 203 $ 53,571 $ — $ 88 $ 203 $ 53,659 $ 53,862 $ (565) 2022 Oklahoma City, OK 1 66,629 11,400 93,765 — 8 11,400 93,773 105,173 (998) 2022 Orlando, FL 7 770,433 112,999 1,205,032 150 28,204 113,149 1,233,236 1,346,385 (24,336) 2018-2022 Oxford, MS 1 15,970 6,779 16,658 — 16 6,779 16,673 23,452 (282) 2022 Philadelphia, PA 4 518,723 620 756,335 — 625 620 756,959 757,579 (9,184) 2022 Phoenix, AZ 10 779,757 47,775 1,121,290 189 8,703 47,964 1,129,993 1,177,957 (27,215) 2018-2022 Portland, OR 2 67,544 1,493 94,652 — 138 1,493 94,790 96,283 (993) 2022 Pullman, WA 1 51,400 20,172 55,481 347 136 20,519 55,616 76,135 (4,058) 2021 Raleigh, NC 1 36,750 11,340 46,044 — 455 11,340 46,498 57,838 (1,456) 2022 Reno, NV 1 58,000 6,265 75,388 — 14 6,265 75,402 81,667 (2,932) 2021 Richmond, VA 5 189,460 12,724 242,230 — 797 12,724 243,026 255,750 (2,538) 2022 Riverside, CA 1 29,818 3,966 40,159 42 1,442 4,009 41,601 45,610 (6,080) 2018 Rochester, NY 2 119,544 43,585 162,946 — 402 43,585 163,348 206,933 (2,267) 2022 San Antonio, TX 2 74,610 21,357 82,319 — 126 21,357 82,445 103,802 (1,015) 2022 San Diego, CA 2 105,114 39,861 131,211 2 1,305 39,863 132,517 172,380 (2,475) 2022 San Francisco, CA 4 190,241 4,652 337,369 52 19,968 4,704 357,337 362,041 (5,866) 2018-2022 Seattle, WA 4 153,898 22,192 240,819 — 403 22,192 241,221 263,413 (2,432) 2022 Starkville, MS 1 7,073 2,678 6,050 — 122 2,678 6,172 8,850 (103) 2022 State College, PA 3 165,312 22,755 201,931 394 4,372 23,150 206,303 229,453 (24,157) 2018-2021 Syracuse, NY 2 32,733 1,693 59,712 — 72 1,693 59,784 61,477 (686) 2022 Tallahassee, FL 6 378,031 74,759 506,945 4 1,917 74,763 508,862 583,625 (10,316) 2021-2022 Tampa, FL 2 90,411 11,640 149,614 — 1,027 11,640 150,642 162,282 (1,788) 2022 Toledo, OH 1 22,665 4,045 25,847 — 28 4,045 25,875 29,920 (297) 2022 Trenton, NJ 1 39,893 3,712 74,929 — 16 3,712 74,946 78,658 (1,081) 2022 Tucson, AZ 5 264,295 21,691 435,395 157 1,651 21,848 437,046 458,894 (24,680) 2018-2022 Tuscaloosa, AL 2 141,931 38,573 151,583 45 3,606 38,618 155,190 193,808 (13,798) 2018-2022 Waco, TX 2 30,335 6,366 73,653 — 2,341 6,366 75,994 82,360 (789) 2022 Single Family Rental Albuquerque, NM 11 2,523 777 2,757 3 51 780 2,808 3,588 (15) 2022 Athens, GA 10 2,055 574 2,576 3 74 577 2,650 3,227 (73) 2021-2022 Atlanta, GA 2,952 831,080 231,289 1,013,607 2,347 18,244 233,636 1,031,851 1,265,487 (39,898) 2014-2022 Augusta, GA 6 1,117 281 1,299 4 53 285 1,352 1,637 (15) 2021-2022 Austin, TX 118 31,191 9,604 41,807 104 571 9,708 42,378 52,086 (1,878) 2015-2022 Baltimore, MD 267 66,590 28,973 63,844 83 2,203 29,056 66,047 95,103 (3,218) 2015-2022 Bellingham, WA 1 227 109 231 — — 109 231 340 (13) 2015 Boulder, CO 10 5,346 1,657 6,145 — — 1,657 6,145 7,802 (285) 2015-2020 Bremerton, WA 142 52,591 22,697 52,273 88 1,039 22,785 53,312 76,097 (1,676) 2018-2022 Cape Coral, FL 123 31,117 8,463 31,139 387 1,145 8,850 32,284 41,134 (1,606) 2014-2022 Charleston, SC 1 208 50 242 — 3 50 245 295 (1) 2022 Charlotte, NC 516 152,117 47,696 188,119 223 1,677 47,919 189,796 237,715 (7,175) 2015-2022 Chicago, IL 853 222,604 68,198 231,526 820 4,742 69,018 236,268 305,286 (11,537) 2012-2022 Colorado Springs, CO 1,052 355,561 101,366 395,434 597 6,462 101,963 401,896 503,859 (13,725) 2014-2022 Columbia, SC 200 40,327 9,308 45,231 110 1,463 9,418 46,694 56,112 (1,904) 2017-2022 Dallas, TX 1,729 486,555 152,699 580,544 2,910 7,057 155,609 587,601 743,210 (25,591) 2013-2022 Initial Cost Costs Capitalized Gross Amounts at which Carried at the Close of Period (1) Description Location Number of Properties Encumbrances (2) Land and Land Building and Building Improvements Land and Land Building and Building Improvements Land and Land Building and Building Improvements Total Accumulated Depreciation (3) Year Acquired Deltona, FL 1 $ 262 $ 93 $ 302 $ 3 $ 14 $ 96 $ 316 $ 412 $ (2) 2022 Denver, CO 948 407,266 134,559 454,641 307 2,723 134,866 457,364 592,230 (17,101) 2013-2022 Durham, NC 13 3,292 1,058 4,418 1 62 1,059 4,480 5,539 (126) 2016-2022 Fort Collins, CO 111 44,775 10,794 50,678 74 231 10,868 50,909 61,777 (2,052) 2013-2022 Gainesville, GA 2 886 192 981 — 1 192 982 1,174 (51) 2015-2018 Greeley, CO 151 57,243 15,821 63,780 — 291 15,821 64,071 79,892 (2,349) 2013-2022 Greensboro, NC 52 16,106 4,607 20,019 — 169 4,607 20,188 24,795 (1,031) 2015-2022 Greenville, SC 17 3,951 903 4,330 28 176 931 4,506 5,437 (144) 2021-2022 Houston, TX 309 70,496 17,026 77,937 729 1,450 17,755 79,387 97,142 (3,887) 2013-2022 Indianapolis, IN 118 31,053 8,567 35,827 59 771 8,626 36,598 45,224 (1,823) 2015-2022 Jacksonville, FL 198 61,853 18,752 66,394 130 798 18,882 67,192 86,074 (3,195) 2014-2022 Kansas City, MO 318 92,784 26,294 110,898 95 2,095 26,389 112,993 139,382 (5,364) 2015-2022 Lakeland, FL 1 136 45 175 — 3 45 178 223 (10) 2021 Las Vegas, NV 283 88,065 35,149 92,036 277 1,728 35,426 93,764 129,190 (1,709) 2021-2022 Los Angeles, CA 82 36,315 14,122 40,629 95 543 14,217 41,172 55,389 (1,493) 2015-2022 Louisville, KY 1 — 51 183 6 4 57 187 244 — 2022 Miami, FL 111 39,185 12,091 39,837 300 832 12,391 40,669 53,060 (2,079) 2014-2022 Minneapolis, MN 1,117 339,487 119,208 356,753 479 7,866 119,687 364,619 484,306 (14,636) 2015-2022 Modesto, CA 7 2,396 1,253 3,006 18 4 1,271 3,010 4,281 (162) 2015-2019 Mount Vernon, WA 4 1,674 806 1,235 1 3 807 1,238 2,045 (66) 2015-2016 Myrtle Beach, SC 2 391 94 455 1 7 95 462 557 (3) 2022 Naples, FL 11 4,249 1,424 4,334 81 — 1,505 4,334 5,839 (247) 2014-2017 Nashville, TN 169 52,903 15,356 56,203 31 583 15,387 56,786 72,173 (1,972) 2017-2022 North Port, FL 242 76,576 21,425 77,691 534 2,115 21,959 79,806 101,765 (3,882) 2014-2022 Ogden, UT 84 25,272 10,349 30,950 25 740 10,374 31,690 42,064 (858) 2017-2022 Oklahoma City, OK 37 8,233 1,884 9,565 36 130 1,920 9,695 11,615 (399) 2014-2022 Olympia, WA 102 38,741 16,039 40,005 5 451 16,044 40,456 56,500 (1,557) 2015-2022 Orlando, FL 683 205,913 63,086 226,869 1,346 6,494 64,432 233,363 297,795 (10,123) 2014-2022 Oxnard, CA 1 430 221 668 — — 221 668 889 (34) 2015 Palm Bay, FL 35 7,823 2,721 8,857 36 304 2,757 9,161 11,918 (269) 2016-2022 Philadelphia, PA 186 49,962 19,701 56,576 72 1,803 19,773 58,379 78,152 (2,940) 2016-2022 Phoenix, AZ 758 220,755 101,446 207,436 876 6,103 102,322 213,539 315,861 (6,183) 2020-2022 Pittsburgh, PA 88 24,463 7,975 31,100 — 452 7,975 31,552 39,527 (1,649) 2016-2022 Port St. Lucie, FL 3 891 503 817 14 13 517 830 1,347 (41) 2015-2022 Portland, OR 328 138,266 67,481 128,997 — 550 67,481 129,547 197,028 (6,090) 2015-2022 Provo, UT 11 4,216 1,587 4,106 27 61 1,614 4,167 5,781 (124) 2018-2022 Punta Gorda, FL 9 2,318 765 2,414 22 197 787 2,611 3,398 (149) 2015-2018 Raleigh, NC 112 31,925 8,997 35,985 26 366 9,023 36,351 45,374 (1,344) 2015-2022 Richmond, VA 143 34,394 10,305 36,673 48 988 10,353 37,661 48,014 (1,349) 2015-2022 Riverside, CA 294 120,956 45,006 138,697 217 1,233 45,223 139,930 185,153 (6,501) 2014-2022 Sacramento, CA 93 45,734 16,821 48,978 73 216 16,894 49,194 66,088 (2,482) 2015-2022 Salt Lake City, UT 76 27,702 10,357 29,770 47 588 10,404 30,358 40,762 (826) 2016-2022 San Antonio, TX 208 49,091 12,815 58,076 202 860 13,017 58,936 71,953 (2,772) 2014-2022 San Diego, CA 13 7,251 4,370 9,595 — — 4,370 9,595 13,965 (493) 2015-2018 Initial Cost Costs Capitalized Gross Amounts at which Carried at the Close of Period (1) Description Location Number of Properties Encumbrances (2) Land and Land Building and Building Improvements Land and Land Building and Building Improvements Land and Land Building and Building Improvements Total Accumulated Depreciation (3) Year Acquired Sanford, NC 3 $ 270 $ 170 $ 696 $ 2 $ 9 $ 172 $ 705 $ 877 $ (17) 2021-2022 Seattle, WA 885 365,405 174,306 347,519 326 4,517 174,632 352,036 526,668 (12,939) 2014-2022 St. Louis, MO 172 42,408 11,151 46,532 90 1,299 11,241 47,831 59,072 (2,077) 2016-2022 Stockton, CA 18 7,166 3,804 8,365 16 67 3,820 8,432 12,252 (424) 2015-2021 Tampa, FL 998 300,771 102,225 318,599 1,976 9,820 104,201 328,419 432,620 (13,387) 2014-2022 Tulsa, OK 86 18,595 4,029 21,745 124 506 4,153 22,251 26,404 (1,097) 2014-2022 Washington, DC 296 87,713 37,394 88,083 90 2,089 37,484 90,172 127,656 (3,681) 2015-2022 Winston, NC 28 7,057 1,809 8,033 8 81 1,817 8,114 9,931 (328) 2015-2022 Senior Housing Quebec, Canada 12 309,685 29,642 456,023 — 6,134 29,642 462,158 491,800 (11,239) 2021-2022 Affordable Housing (4) Adrian, MI 1 2,645 740 2,720 3 24 743 2,744 3,487 (109) 2021 Albuquerque, NM 8 71,556 69,810 82,209 413 2,514 70,222 84,723 154,945 (3,530) 2021 Ann Arbor, MI 2 — 4,150 22,100 22 141 4,172 22,241 26,413 (931) 2021 Atlanta, GA 11 88,571 46,380 111,729 118 1,167 46,498 112,896 159,394 (4,549) 2021 Austin, TX 38 225,883 174,040 589,684 1,021 3,121 175,061 592,805 767,866 (22,852) 2021 Bakersfield, CA 2 4,611 6,460 4,260 — 19 6,460 4,279 10,739 (192) 2021 Baltimore, MD 5 24,891 40,030 45,040 15 278 40,045 45,318 85,363 (1,911) 2021 Barnstable Town, MA 1 1,950 170 1,640 — 66 170 1,706 1,876 (76) 2021 Battle Creek, MI 1 — 1,240 4,940 — 25 1,240 4,965 6,205 (197) 2021 Beaumont, TX 3 5,373 4,190 18,910 32 130 4,222 19,040 23,262 (722) 2021 Birmingham AL 1 4,711 5,370 9,020 45 134 5,415 9,154 14,569 (376) 2021 Bloomington, IN 1 5,975 2,140 14,060 — 26 2,140 14,086 16,226 (555) 2021 Boise City, ID 1 1,448 1,320 4,710 — 17 1,320 4,727 6,047 (189) 2021 Boston, MA 1 7,646 8,440 37,586 — — 8,440 37,586 46,026 (1,491) 2021 Boulder, CO 3 41,000 16,410 80,709 131 401 16,541 81,110 97,651 (3,212) 2021 Bridgeport, CT 1 375 600 310 — — 600 310 910 (15) 2021 Brownsville, TN 2 1,198 3,780 680 — 12 3,780 692 4,472 (31) 2021 Canton, OH 2 1,437 1,940 13,260 — 63 1,940 13,323 15,263 (523) 2021 Cape Coral, FL 2 62,073 14,232 96,599 5 744 14,237 97,343 111,580 (3,581) 2021 Charlotte, NC 5 37,194 23,730 36,200 129 241 23,858 36,441 60,299 (1,525) 2021 Charlottesville, VA 1 982 5,940 21,640 — 320 5,940 21,960 27,900 (868) 2021 Cheyenne, WY 3 4,670 8,220 25,460 30 155 8,250 25,615 33,865 (1,025) 2021 Chicago, IL 8 25,919 9,320 37,490 14 410 9,334 37,900 47,234 (1,503) 2021 Chico, CA 1 9,602 3,590 10,890 — 31 3,590 10,921 14,511 (436) 2021 Cincinnati, OH 7 68,370 17,960 107,339 133 569 18,093 107,908 126,001 (4,245) 2021 Clarksdale, MS 1 381 710 1,120 — 3 710 1,123 1,833 (46) 2021 Clearlake, CA 3 4,048 3,650 3,030 — 109 3,650 3,139 6,789 (135) 2021 Cleveland, MS 2 — 2,450 4,340 16 105 2,466 4,445 6,911 (182) 2021 Cleveland, OH 1 13,650 3,460 20,280 1 85 3,461 20,365 23,826 (803) 2021 College Station, TX 1 4,389 3,160 12,540 8 21 3,168 12,561 15,729 (498) 2021 Columbus, OH 2 26,138 6,440 40,980 13 222 6,453 41,201 47,654 (1,618) 2021 Initial Cost Costs Capitalized Gross Amounts at which Carried at the Close of Period (1) Description Location Number of Properties Encumbrances (2) Land and Land Building and Building Improvements Land and Land Building and Building Improvements Land and Land Building and Building Improvements Total Accumulated Depreciation (3) Year Acquired Crestview, FL 1 $ 10,677 $ 3,740 $ 9,750 $ — $ 372 $ 3,740 $ 10,122 $ 13,862 $ (401) 2021 Decatur, IL 1 443 980 3,580 — 25 980 3,605 4,585 (143) 2021 Deltona, FL 2 44,454 13,392 60,244 — 294 13,392 60,538 73,930 (2,201) 2021 Denver, CO 9 196,705 62,220 355,190 151 3,031 62,371 358,222 420,593 (14,059) 2021 Des Moines, IA 2 10,719 3,790 20,550 — 127 3,790 20,677 24,467 (815) 2021 Detroit, MI 7 36,033 8,050 63,390 3 354 8,053 63,743 71,796 (2,514) 2021 Douglas, GA 1 — 810 1,290 — 3 810 1,293 2,103 (54) 2021 Duluth, MN 2 5,231 500 11,820 — 21 500 11,841 12,341 (463) 2021 Durant, OK 1 1,050 1,260 130 — 2 1,260 132 1,392 (11) 2021 Durham, NC 1 4,323 2,320 9,380 — 68 2,320 9,448 11,768 (375) 2021 El Centro, CA 2 7,246 6,260 4,200 — 95 6,260 4,294 10,554 (191) 2021 El Paso, TX 2 — 5,980 11,960 — 44 5,980 12,004 17,984 (489) 2021 Enterprise, AL 1 894 2,520 4,490 5 22 2,525 4,512 7,037 (186) 2021 Evanston, WY 1 — 2,070 1,790 — — 2,070 1,790 3,860 (78) 2021 Evansville, IN 1 2,774 1,280 2,310 — 22 1,280 2,332 3,612 (97) 2021 Fort Collins, CO 5 81,780 27,370 124,669 356 684 27,725 125,353 153,078 (4,954) 2021 Fort Smith, AR 1 — 350 380 — 25 350 405 755 (17) 2021 Fresno, CA 6 23,086 20,320 17,800 41 165 20,361 17,964 38,325 (779) 2021 Gainesville, FL 1 1,195 1,620 2,880 6 8 1,626 2,887 4,513 (119) 2021 Gillette, WY 2 — 2,650 2,580 — 1 2,650 2,581 5,231 (105) 2021 Grand Rapids, MI 1 — 1,250 2,220 — 102 1,250 2,322 3,572 (95) 2021 Greeley, CO 1 7,029 7,560 39,533 — — 7,560 39,533 47,093 (1,569) 2021 Greenville, MS 1 — 2,260 2,320 17 39 2,277 2,359 4,636 (101) 2021 Greenville, SC 6 34,786 11,690 48,890 80 246 11,770 49,135 60,905 (1,996) 2021 Greenwood, MS 1 — 1,480 2,990 15 68 1,495 3,058 4,553 (124) 2021 Hammond, LA 4 2,145 2,900 5,435 — 32 2,900 5,467 8,367 (224) 2021 Hanford, CA 2 1,635 5,780 1,820 75 59 5,855 1,879 7,734 (98) 2021 Harrisburg, PA 2 18,744 9,690 19,080 32 178 9,722 19,258 28,980 (783) 2021 Hartford, CT 1 3,596 3,200 3,350 — 4 3,200 3,354 6,554 (143) 2021 Heber, UT 1 16,975 8,450 19,660 13 46 8,463 19,705 28,168 (797) 2021 Houston, TX 19 203,294 101,479 307,658 279 2,302 101,758 309,960 411,718 (12,384) 2021 Indianapolis, IN 3 18,484 6,970 25,330 — 196 6,970 25,526 32,496 (1,014) 2021 Indianola, MS 1 297 1,510 4,010 5 40 1,515 4,050 5,565 (162) 2021 Jackson, MI 2 2,171 2,280 4,200 — 22 2,280 4,222 6,502 (175) 2021 Jackson, MS 3 335 4,350 4,690 10 136 4,360 4,826 9,186 (204) 2021 Jacksonville, FL 4 118,642 29,558 173,773 4 532 29,562 174,306 203,868 (6,637) 2021 Johnson City, TN 1 1,222 1,450 2,890 — — 1,450 2,890 4,340 (118) 2021 Kansas City, MO 7 68,861 13,873 112,550 2 507 13,875 113,057 126,932 (4,409) 2021 Killeen, TX 2 4,880 5,060 6,140 9 47 5,069 6,187 11,256 (262) 2021 La Crosse, WI 1 379 290 870 — — 290 870 1,160 (35) 2021 Lake Havasu City, AZ 2 2,444 4,180 4,360 — 10 4,180 4,370 8,550 (187) 2021 Lakeland, FL 1 781 2,470 5,570 4 2 2,474 5,572 8,046 (226) 2021 Lancaster, PA 1 11,066 7,910 15,330 14 285 7,924 15,615 23,539 (632) 2021 Lansing, MI 1 — 2,070 14,140 49 61 2,119 14,201 16,320 (558) 2021 Initial Cost Costs Capitalized Gross Amounts at which Carried at the Close of Period (1) Description Location Number of Properties Encumbrances (2) Land and Land Building and Building Improvements Land and Land Building and Building Improvements Land and Land Building and Building Improvements Total Accumulated Depreciation (3) Year Acquired Las Cruces, NM 1 $ 1,493 $ 3,350 $ 310 $ — $ 10 $ 3,350 $ 320 $ 3,670 $ (27) 2021 Las Vegas, NV 5 40,442 17,630 93,449 21 235 17,650 93,685 111,335 (3,730) 2021 Lawrence, KS 1 4,090 1,780 11,040 2 39 1,782 11,079 12,861 (436) 2021 Lawton, OK 2 2,375 3,270 2,370 — 19 3,270 2,389 5,659 (107) 2021 Lincoln, IL 1 1,180 340 1,080 24 38 364 1,118 1,482 (45) 2021 Lincoln, NE 2 16,964 5,830 33,790 2 221 5,832 34,011 39,843 (1,338) 2021 Little Rock, AR 1 — 5,110 13,690 — 47 5,110 13,737 18,847 (542) 2021 Longview, TX 2 5,356 3,690 1,780 18 155 3,708 1,935 5,643 (90) 2021 Los Angeles, CA 31 169,733 156,419 396,387 62 2,098 156,481 398,485 554,966 (16,031) 2021 Louisville, KY 1 — 730 910 5 8 735 918 1,653 (39) 2021 Macomb, IL 1 198 695 1,931 — 39 695 1,969 2,664 (37) 2021 Macon, GA 2 5,312 210 2,070 2 112 212 2,182 2,394 (96) 2021 Madera, CA 1 3,779 1,750 1,530 — 37 1,750 1,567 3,317 (67) 2021 Marion, IN 2 — 1,820 5,690 49 23 1,869 5,713 7,582 (232) 2021 McAllen, TX 1 1,622 — 2,798 14 11 14 2,809 2,823 (98) 2021 Memphis, TN 5 5,526 2,600 7,649 17 161 2,617 7,811 10,428 (296) 2021 Miami, FL 32 1,168,186 372,153 1,662,211 55 5,140 372,208 1,667,352 2,039,560 (62,667) 2021-2022 Midland, TX 1 — 3,610 6,940 4 28 3,614 6,968 10,582 (284) 2021 Milwaukee, WI 1 4,150 1,130 7,290 — 10 1,130 7,300 8,430 (288) 2021 Modesto, CA 2 5,476 7,400 18,610 2 75 7,402 18,685 26,087 (751) 2021 Monroe, MI 1 — 2,160 14,750 91 33 2,251 14,783 17,034 (583) 2021 Morristown, TN 1 — 290 — — — 290 — 290 — 2021 Mount Vernon, IL 1 — 1,750 4,350 3 49 1,753 4,399 6,152 (178) 2021 Muskegon, MI 1 6,168 1,960 9,920 27 12 1,987 9,932 11,919 (394) 2021 Muskogee, OK 1 322 190 20 — 4 190 24 214 (2) 2021 Nashville, TN 2 14,856 8,390 18,410 3 568 8,393 18,978 27,371 (754) 2021 New Castle, IN 1 132 580 880 — 9 580 889 1,469 (37) 2021 New Orleans, LA 2 26,579 6,650 36,050 — 21 6,650 36,071 42,721 (1,426) 2021 New York, NY 5 15,469 7,188 8,872 6 172 7,194 9,044 16,238 (344) 2021 Ogden, UT 2 14,289 8,930 14,240 3 44 8,933 14,284 23,217 (583) 2021 Oklahoma City, OK 8 11,843 15,980 31,380 — 204 15,980 31,584 47,564 (1,312) 2021 Omaha, NE 1 — 3,970 21,410 13 73 3,983 21,483 25,466 (935) 2021 Orlando, FL 1 10,220 5,970 30,250 — 9 5,970 30,259 36,229 (1,195) 2021 Other U.S. 13 6,562 24,570 13,706 61 1,014 24,631 14,720 39,351 (662) 2021 Ottawa, IL 3 6,839 1,890 5,360 — 91 1,890 5,451 7,341 (218) 2021 Oxnard, CA 3 41,367 30,810 29,870 4 93 30,814 29,962 60,776 (1,297) 2021 Palm Bay, FL 3 67,145 20,385 79,869 — 624 20,385 80,493 100,878 (3,103) 2021 Pensacola, FL 1 8,793 3,330 6,590 1 64 3,331 6,654 9,985 (271) 2021 Phoenix, AZ 8 86,090 27,180 121,519 177 2,024 27,357 123,543 150,900 (4,776) 2021 Plymouth, IN 1 3,271 1,030 4,850 — 21 1,030 4,871 5,901 (193) 2021 Raleigh, NC 1 9,705 2,330 10,850 — 114 2,330 10,964 13,294 (434) 2021 Rapid City, SD 3 2,586 2,590 14,550 — 35 2,590 14,585 17,175 (575) 2021 Red Bluff, CA 2 3,273 4,990 2,770 — 44 4,990 2,814 7,804 (129) 2021 Initial Cost Costs Capitalized Gross Amounts at which Carried at the Close of Period (1) Description Location Number of Properties Encumbrances (2) Land and Land Building and Building Improvements Land and Land Building and Building Improvements Land and Land Building and Building Improvements Total Accumulated Depreciation (3) Year Acquired Redding, CA 1 $ 1,966 $ 3,460 $ 3,240 $ — $ 44 $ 3,460 $ 3,284 $ 6,744 $ (140) 2021 Reno, NV 1 6,838 8,950 15,340 12 9 8,962 15,349 24,311 (632) 2021 Richmond, VA 5 13,781 6,810 33,860 — 95 6,810 33,955 40,765 (1,365) 2021 Riverside, CA 8 34,611 67,570 54,010 68 460 67,638 54,469 122,107 (2,379) 2021 Roanoke, VA 1 — 320 — — — 320 — 320 — 2021 Sacramento, CA 16 93,201 45,900 312,328 290 1,745 46,189 314,073 360,262 (12,334) 2021 Salinas, CA 4 37,729 22,830 93,729 3 287 22,833 94,016 116,849 (3,725) 2021 Salisbury, MD 1 2,972 4,240 3,860 83 32 4,323 3,892 8,215 (171) 2021 Salt Lake City, UT 3 69,574 25,727 121,438 21 845 25,748 122,284 148,032 (3,518) 2021-2022 San Antonio, TX 4 23,859 12,430 44,380 67 216 12,497 44,596 57,093 (1,779) 2021 San Diego, CA 6 83,558 36,550 109,655 17 136 36,567 109,791 146,358 (3,766) 2021-2022 San Francisco, CA 4 44,253 20,800 80,549 75 131 20,874 80,681 101,555 (3,208) 2021 San Jose, CA 4 33,205 9,130 125,089 22 990 9,152 126,080 135,232 (4,937) 2021 San Luis Obispo, CA 4 19,634 11,650 25,910 — 236 11,650 26,146 37,796 (1,053) 2021 Santa Fe, NM 1 8,607 4,800 9,480 20 269 4,820 9,749 14,569 (392) 2021 Santa Maria, CA 1 7,340 10,460 49,460 — 1,004 10,460 50,464 60,924 (1,971) 2021 Santa Rosa, CA 1 15,132 12,190 55,290 55 734 12,245 56,023 68,268 (2,204) 2021 Savannah, GA 1 129 1,560 810 3 110 1,563 920 2,483 (43) 2021 Seattle, WA 4 96,032 26,130 237,786 58 8,007 26,188 245,793 271,981 (8,981) 2021 Sebastian, FL 1 14,850 9,680 39,390 — 844 9,680 40,234 49,914 (1,577) 2021 Shawnee, OK 1 659 550 460 5 25 555 485 1,040 (22) 2021 Sheridan, WY 2 2,640 3,440 4,635 — 18 3,440 4,654 8,094 (195) 2021 Sherman, TX 1 4,327 2,660 1,570 14 47 2,674 1,617 4,291 (74) 2021 Show Low, AZ 1 1,817 1,360 660 34 4 1,394 664 2,058 (33) 2021 Sierra Vista, AZ 2 928 2,190 410 1 14 2,191 424 2,615 (26) 2021 South Bend, IN 3 2,654 2,190 5,340 — 22 2,190 5,362 7,552 (218) 2021 Spartanburg, SC 1 8,375 4,700 8,200 45 58 4,745 8,258 13,003 (340) 2021 St. Louis, MO 3 29,982 10,060 61,696 39 97 10,099 61,793 71,892 (2,446) 2021 Sterling, CO 1 3,496 1,940 1,620 — 47 1,940 1,667 3,607 (71) 2021 Stockton, CA 1 24,058 10,740 44,000 — 648 10,740 44,648 55,388 (1,756) 2021 Tampa, FL 6 162,312 55,733 210,078 — 558 55,733 210,636 266,369 (7,904) 2021-2022 Trenton, NJ 1 6,351 4,670 10,000 — 11 4,670 10,011 14,681 (407) 2021 Truckee, CA 1 11,662 4,310 12,150 — 21 4,310 12,171 16,481 (488) 2021 Tulsa, OK 5 8,779 9,020 10,532 67 213 9,087 10,745 19,832 (457) 2021 Tyler, TX 2 4,866 6,310 18,010 77 14 6,387 18,024 24,411 (727) 2021 Vidalia, GA 1 236 1,270 2,390 — 23 1,270 2,413 3,683 (99) 2021 Vineland, NJ 2 7,752 7,080 3,800 — — 7,080 3,800 10,880 (177) 2021 Virginia Beach, VA 3 19,544 20,370 56,310 21 731 20,391 57,040 77,431 (2,277) 2021 Visalia, CA 3 3,069 6,950 4,650 — 20 6,950 4,670 11,620 (211) 2021 Waco, TX 1 4,859 3,520 13,140 11 18 3,531 13,157 16,688 (524) 2021 Washington, DC 31 527,138 384,897 716,058 293 8,605 385,191 724,664 1,109,855 (29,279) 2021 Wilson, NC 1 2,097 1,130 1,000 — 45 1,130 1,045 2,175 (45) 2021 Worcester, MA 1 — 3,350 4,970 — 125 3,350 5,095 8,445 (210) 2021 Initial Cost Costs Capitalized Gross Amounts at which Carried at the Close of Period (1) Description Location Number of Properties Encumbrances (2) Land and Land Building and Building Improvements Land and Land Building and Building Improvements Land and Land Building and Building Im |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company, the Company’s subsidiaries and joint ventures in which the Company has a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. |
Principles of Consolidation | Principles of Consolidation The Company consolidates all entities in which it has a controlling financial interest through majority ownership or voting rights and variable interest entities whereby the Company is the primary beneficiary. In determining whether the Company has a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, the Company considers whether the entity is a variable interest entity (“VIE”) and whether it is the primary beneficiary. The Company is the primary beneficiary of a VIE when it has (i) the power to direct the most significant activities impacting the economic performance of the VIE and (ii) the obligation to absorb losses or receive benefits significant to the VIE. Entities that do not qualify as VIEs are generally considered voting interest entities (“VOEs”) and are evaluated for consolidation under the voting interest model. VOEs are consolidated when the Company controls the entity through a majority voting interest or other means. When the requirements for consolidation are not met and the Company has significant influence over the operations of the entity, the investment is accounted for under the equity method of accounting. Investments in unconsolidated entities for which the Company has not elected a fair value option are initially recorded at cost and subsequently adjusted for the Company’s pro-rata share of net income, contributions and distributions. When the Company elects the fair value option (“FVO”), the Company records its share of net asset value of the entity and any related unrealized gains and losses. BREIT OP and each of the Company’s joint ventures are considered to be a VIE or VOE. The Company consolidates these entities, excluding certain investments in unconsolidated entities, because it has the ability to direct the most significant activities of the entities such as purchases, dispositions, financings, budgets, and overall operating plans. For consolidated joint ventures, the non-controlling partner’s share of the assets, liabilities, and operations of each joint venture is included in non-controlling interests as equity of the Company. The non-controlling partner’s interest is generally computed as the joint venture partner’s ownership percentage. Certain of the joint ventures formed by the Company provide the other partner a profits interest based on certain internal rate of return hurdles being achieved. Any profits interest due to the other partner is reported within non-controlling interests. The Company owns Controlling Class Securities (defined below) in certain CMBS securitizations that give the Company certain rights with respect to the underlying loans that serve as collateral for the CMBS securitization. In particular, these Controlling Class Securities typically give the holder the right to direct certain activities of the securitization on behalf of all securityholders, which could impact the securitization's overall economic performance. Such rights, along with the obligation to absorb losses and receive benefits from the ownership of the Controlling Class Securities, require consolidation of these securitizations, which are considered VIEs under GAAP. |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may ultimately differ materially from those estimates. |
Investments in Real Estate | Investments in Real Estate In accordance with the guidance for business combinations, the Company determines whether the acquisition of a property qualifies as a business combination, which requires that the assets acquired and liabilities assumed constitute a business. If the property acquired does not constitute a business, the Company accounts for the transaction as an asset acquisition. The guidance for business combinations states that when substantially all of the fair value of the gross assets to be acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the asset or set of assets is not a business. All property acquisitions to date have been accounted for as asset acquisitions. Whether the acquisition of a property acquired is considered a business combination or asset acquisition, the Company recognizes the identifiable assets acquired, the liabilities assumed, and any non-controlling interest in the acquired entity. In addition, for transactions that are business combinations, the Company evaluates the existence of goodwill or a gain from a bargain purchase. The Company expenses acquisition-related costs associated with business combinations as they are incurred. The Company capitalizes acquisition-related costs associated with asset acquisitions. Upon acquisition of a property, the Company assesses the fair value of acquired tangible and intangible assets (including land, buildings, tenant improvements, “above-market” and “below-market” leases, acquired in-place leases, other identified intangible assets and assumed liabilities) and allocates the purchase price to the acquired assets and assumed liabilities. The Company assesses and considers fair value based on estimated cash flow projections that utilize discount and/or capitalization rates that it deems appropriate, as well as other available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known and anticipated trends, and market and economic conditions. The fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records acquired above-market and below-market leases at their fair values (using a discount rate which reflects the risks associated with the leases acquired) equal to the difference between (1) the contractual amounts to be paid pursuant to each in-place lease and (2) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed rate renewal options for below-market leases. The Company records acquired in-place lease values based on the Company’s evaluation of the specific characteristics of each tenant’s lease. Factors to be considered include estimates of carrying costs during hypothetical expected lease-up periods considering current market conditions, and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, the Company considers leasing commissions, legal and other related expenses. The Company also considers an allocation of purchase price of other acquired intangibles, including acquired in-place leases that may have a customer relationship intangible value, including (but not limited to) the nature and extent of the existing relationship with the tenants, the tenants’ credit quality and expectations of lease renewals. Based on its acquisitions to date, the Company’s allocation to customer relationship intangible assets has not been material. Intangible assets and intangible liabilities are recorded as a component of Other Assets and Other Liabilities, respectively, on the Company’s Consolidated Balance Sheets. The amortization of acquired above-market and below-market leases is recorded as an adjustment to Rental Revenue on the Company’s Consolidated Statements of Operations. The amortization of below-market and pre-paid ground leases are recorded as an adjustment to Rental Property Operating or Hospitality Operating Expenses, as applicable, on the Company’s Consolidated Statements of Operations. The amortization of in-place leases is recorded as an adjustment to Depreciation and Amortization Expense on the Company’s Consolidated Statements of Operations. The cost of buildings and improvements includes the purchase price of the Company’s properties and any acquisition-related costs, along with any subsequent improvements to such properties. The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows: Description Depreciable Life Building 30 - 42 years Building- and land improvements 10 years Furniture, fixtures and equipment 1 - 10 years Lease intangibles Over lease term Significant improvements to properties are capitalized. When assets are sold or retired, their costs and related accumulated depreciation are removed from the accounts with the resulting gains or losses reflected in net income or loss for the period. Repairs and maintenance are expensed to operations as incurred and are included in Rental Property Operating and Hospitality Operating Expenses on the Company’s Consolidated Statements of Operations. |
Properties Held for Sale | Properties Held-for-SaleThe Company classifies the assets and liabilities related to its real estate investments as held-for-sale when a sale is probable to occur within one year. The Company considers a sale to be probable when a binding contract has been executed, the buyer has posted a non-refundable deposit, and there are limited contingencies to closing. The Company records held-for-sale real estate investments at the lower of depreciated cost or fair value, less estimated closing costs. During the year ended December 31, 2022, the Company recognized $33.6 million of impairment charges related to held-for-sale real estate investments. No impairments related to held-for-sale real estate investments occurred during the years ended December 31, 2021 and 2020. Held-for-sale assets and liabilities are presented within Other Assets and Other Liabilities on the Company’s Consolidated Balance Sheets. |
Investments in Unconsolidated Entities | Investments in Unconsolidated Entities Investments in unconsolidated entities are initially recorded at cost and subsequently adjusted for the Company’s pro-rata share of net income (loss), contributions, and distributions. The Company’s investments in unconsolidated entities are periodically assessed for impairment and an impairment loss is recorded when the fair value of the investment falls below the carrying value and such decline is determined to be other-than-temporary. The Company has elected the fair value option ("FVO") for certain of its investments in unconsolidated entities and therefore reports these investments at fair value. As such, the resulting unrealized gains and losses are recorded as a component of Income From Unconsolidated Entities on the Company’s Consolidated Statements of Operations. |
Investments in Real Estate Debt | Investments in Real Estate Debt The Company’s investments in real estate debt consists of securities and loans. The Company has elected to classify its real estate debt securities as trading securities and carry such investments at fair value. As such, the resulting unrealized gains and losses of such securities are recorded as a component of Income/(Loss) from Investments in Real Estate Debt on the Company’s Consolidated Statements of Operations. The Company elected the FVO for its investments in loans. As such, the resulting unrealized gains and losses of such loans are recorded as a component of Income/(Loss) from Investments in Real Estate Debt on the Company’s Consolidated Statements of Operations. Interest income from the Company’s investments in real estate debt is recognized over the life of each investment using the effective interest method and is recorded on the accrual basis. Recognition of premiums and discounts associated with these investments is deferred and recorded over the term of the investment as an adjustment to yield. Interest income is recorded as a component of Income/(Loss) from Investments in Real Estate Debt on the Company’s Consolidated Statements of Operations. |
Consolidated Securitization Vehicles | Consolidated Securitization Vehicles The Company consolidates certain CMBS securitizations within its financial statements. The consolidation of these securitizations results in a gross presentation of the underlying collateral loans as discrete assets, as well as inclusion of the senior CMBS positions owned by third-parties, which are presented as liabilities on the Company’s Consolidated Balance Sheets. Additionally, the changes in fair value of these positions include the interest income and interest expense associated with such CMBS VIEs. Management does not consider the separate presentation of the components of fair value changes to be relevant, and has elected to present these items in the aggregate as “Change in net assets of consolidated securitization vehicles” on the Company’s Consolidated Statements of Operations. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents represent cash held in banks, cash on hand, and liquid investments with original maturities of three months or less. The Company may have bank balances in excess of federally insured amounts; however, the Company deposits its cash and cash equivalents with high credit-quality institutions to minimize credit risk. |
Restricted Cash | Restricted Cash As of December 31, 2022 and 2021, restricted cash primarily consists of $0.2 billion and $1.7 billion, respectively, of cash received for subscriptions prior to the date in which the subscriptions are effective, which is held in a bank account controlled by the Company’s transfer agent but in the name of the Company. Other restricted cash primarily consists of amounts in escrow related to real estate taxes and insurance in connection with mortgages at certain of our properties and security deposits. |
Foreign Currency | Foreign Currency In the normal course of business, the Company makes investments in real estate outside the United States (“U.S.”) through subsidiaries that have a non-U.S. dollar functional currency. Non-U.S. dollar denominated assets and liabilities of these foreign subsidiaries are translated to U.S. dollars at the prevailing exchange rate at the reporting date and income, expenses, gains, and losses are translated at the average exchange rate over the applicable period. Cumulative translation adjustments arising from the translation of non-U.S. dollar denominated assets and liabilities are recorded in Other Comprehensive Income (Loss). |
Derivative Financial Instruments | Derivative Financial Instruments The Company classifies all derivative financial instruments as either other assets or other liabilities on its Consolidated Balance Sheets at fair value. On the date the Company enters into a derivative contract, the Company designates each contract as (i) a hedge of a net investment in a foreign operation, or net investment hedge, (ii) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability, or cash flow hedge, (iii) a hedge of a recognized asset or liability, or fair value hedge, or (iv) a derivative instrument not to be designated as a hedging derivative, or non-designated hedge. For all derivatives other than those designated as non-designated hedges, the Company formally documents its hedge relationships and designation at the contract’s inception. This documentation includes the identification of the hedging instruments and the hedged items, its risk management objectives, strategy for undertaking the hedge transaction and its evaluation of the effectiveness of its hedged transaction. On a quarterly basis, the Company also formally assesses whether the derivative designated in each hedging relationship is expected to be, and has been, highly effective in offsetting changes in the value or cash flows of the hedged items. If it is determined that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued and the changes in fair value of the instrument are included in net income prospectively. All changes in the fair value of derivative instruments that qualify as hedges are reported as a component of accumulated other comprehensive income (loss) on our consolidated financial statements. Deferred gains and losses are reclassified out of accumulated other comprehensive income (loss) and into net income in the same period or periods during which the hedged transaction affects earnings, and are presented in the same line item as the earnings effect of the hedged item. For cash flow hedges, this is typically when the periodic swap settlements are made. To the extent a derivative does not qualify for hedge accounting and is deemed a non-designated hedge, the changes in its fair value are included in net income concurrently. Realized gains and losses from an early termination of derivative instruments are reported as a component of net cash used in investing activities in the Company's consolidated statements of cash flows. Proceeds or payments from periodic settlements of derivative instruments are classified in the same section of the Company's Consolidated Statements of Cash Flows as the underlying hedged item. |
Deferred Charges | Deferred Charges The Company’s deferred charges include financing and leasing costs. Deferred financing costs include legal, structuring, and other loan costs incurred by the Company for its financing agreements. Deferred financing costs related to the Company’s mortgage notes and term loans are recorded as an offset to the related liability and amortized over the term of the applicable financing instruments. Deferred financing costs related to the Company’s unsecured revolving credit facilities are recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets and amortized over the term of the applicable financing agreements. Deferred leasing costs incurred in connection with new leases, which consist primarily of brokerage and legal fees, are recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets and amortized over the life of the related lease. |
Equity Securities | Equity Securities The Company’s investments in equity securities of public and private real estate-related companies and its investments in a preferred equity security are reported at fair value. As such, the resulting unrealized gains and losses are recorded as a component of Income From Equity Securities and Interest Rate Derivatives on the Company’s Consolidated Statements of Operations. Dividend income from the Company’s equity securities of public real estate-related companies is recognized on the ex-dividend, while dividend income on its investment in a preferred equity security accrues daily based on the stated terms of the agreement and is payable quarterly in cash. Dividend income is recorded as a component of Income From Equity Securities and Interest Rate Derivative on the Company’s Consolidated Statements of Operations. Equity securities are recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets. |
Revenue Recognition | Revenue Recognition The Company’s sources of revenue and the related revenue recognition policies are as follows: Rental revenue — primarily consists of base rent and tenant reimbursement income arising from tenant leases at the Company’s rental housing, industrial, net lease, data center, self storage, retail and office properties. Base rent is recognized on a straight-line basis over the life of the lease, including any rent steps or abatement provisions. The Company begins to recognize revenue upon the acquisition of the related property or when a tenant takes possession of the leased space. Tenant reimbursement income primarily consists of amounts due from tenants for costs related to common area maintenance, real estate taxes, and other recoverable costs included in lease agreements. Hospitality revenue — consists of income from the Company’s hospitality properties. Hospitality revenue consists primarily of room revenue and food and beverage revenue. Room revenue is recognized when the related room is occupied and other hospitality revenue is recognized when the service is rendered. The Company evaluates the collectability of receivables related to rental revenue on an individual lease basis. Management exercises judgment in assessing collectability and considers the length of time a receivable has been outstanding, tenant credit-worthiness, payment history, available information about the financial condition of the tenant, and current economic trends, among other factors. Tenant receivables that are deemed uncollectible are recognized as a reduction to rental revenue. |
Organization And Offering Costs | Organization and Offering Costs Organization costs are expensed as incurred and recorded as a component of Other Expense on the Company’s Consolidated Statements of Operations and offering costs are charged to equity as such amounts are incurred. The Adviser agreed to advance $10.2 million of certain organization and offering costs on behalf of the Company (including legal, marketing and fulfillment, regulatory, due diligence, administrative, accounting, tax, transfer agent and other expenses attributable to the Company’s organization, but excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) through December 31, 2017. Such costs are recorded as a component of Due to Affiliates on the Company’s Consolidated Balance Sheets and are being reimbursed to the Adviser pro rata over 60 months beginning January 1, 2018. For both of the years ended December 31, 2022 and 2021, the Company reimbursed $2.0 million to the Adviser for such costs. Blackstone Advisory Partners L.P. (the “Dealer Manager”), a registered broker-dealer affiliated with the Adviser, serves as the dealer manager for the Offering. The Dealer Manager is entitled to receive selling commissions and dealer manager fees based on the transaction price of each applicable class of shares sold in the Offering. The Dealer Manager is also entitled to receive a stockholder servicing fee of 0.85%, 0.85% and 0.25% per annum of the aggregate net asset value (“NAV”) of the Company’s outstanding Class S shares, Class T shares, and Class D shares, respectively. There is no stockholder servicing fee with respect to Class I shares and Class C shares. The following table details the selling commissions, dealer manager fees, and stockholder servicing fees for each applicable share class as of December 31, 2022: Class S Class I Class T Class D Class C Selling commissions and dealer manager fees (% of transaction price) up to 3.5% — up to 3.5% up to 1.5% — Stockholder servicing fee (% of NAV) 0.85% — 0.85% 0.25% — For Class S shares sold in the Offering (other than as part of the Company’s distribution reinvestment plan), investors will pay upfront selling commissions of up to 3.5% of the transaction price. For Class T shares sold in the Offering (other than as part of the Company’s distribution reinvestment plan), investors will pay upfront selling commissions of up to 3.0% of the transaction price and upfront dealer manager fees of 0.5% of the transaction price, however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5% of the transaction price. For Class D shares sold in the Offering (other than as part of the Company’s distribution reinvestment plan), investors will pay upfront selling commissions of up to 1.5% of the transaction price. The Dealer Manager is entitled to receive stockholder servicing fees of 0.85% per annum of the aggregate NAV for Class S shares and Class T shares. For Class T shares such stockholder servicing fee includes, an advisor stockholder servicing fee of 0.65% per annum, and a dealer stockholder servicing fee of 0.20% per annum, of the aggregate NAV for the Class T shares, however, with respect to Class T shares sold through certain participating broker-dealers, the advisor stockholder servicing fee and the dealer stockholder servicing fee may be other amounts, provided that the sum of such fees will always equal 0.85% per annum of the NAV of such shares. For Class D shares, a stockholder servicing fee equal to 0.25% per annum of the aggregate NAV for the Class D shares. |
Income Taxes | Income Taxes The Company qualifies to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”), for U.S. federal income tax purposes. The Company generally will not be subject to federal corporate income tax to the extent it distributes 100% of its taxable income to its stockholders. REITs are subject to a number of other organization and operational requirements. Even if the Company qualifies for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. |
Fair Value Measurements | Fair Value Measurements Under normal market conditions, the fair value of an investment is the amount that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). The Company uses a hierarchical framework that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment, and the state of the marketplace, including the existence and transparency of transactions between market participants. Investments with readily available actively quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments measured and reported at fair value are classified and disclosed in one of the following levels within the fair value hierarchy: Level 1 — quoted prices are available in active markets for identical investments as of the measurement date. The Company does not adjust the quoted price for these investments. Level 2 — quoted prices are available in markets that are not active or model inputs are based on inputs that are either directly or indirectly observable as of the measurement date. Level 3 — pricing inputs are unobservable and include instances where there is minimal, if any, market activity for the investment. These inputs require significant judgment or estimation by management or third parties when determining fair value and generally represent anything that does not meet the criteria of Levels 1 and 2. Due to the inherent uncertainty of these estimates, these values may differ materially from the values that would have been used had a ready market for these investments existed. Valuation of assets and liabilities measured at fair value The Company’s investments in real estate debt are reported at fair value. As of December 31, 2022 and December 31, 2021, the Company’s investments in real estate debt, directly or indirectly, consisted of commercial mortgage-backed securities (“CMBS”) and residential mortgage-backed securities (“RMBS”), which are securities backed by one or more mortgage loans secured by real estate assets, as well as corporate bonds, term loans, mezzanine loans, and other investments in debt issued by real estate-related companies or secured by real estate assets. The Company generally determines the fair value of its investments in real estate debt by utilizing third-party pricing service providers whenever available. In determining the fair value of a particular investment, pricing service providers may use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models to determine the reported price. The pricing service providers’ internal models for securities such as real estate debt generally consider the attributes applicable to a particular class of the security (e.g., credit rating, seniority), current market data, and estimated cash flows for each security, and incorporate specific collateral performance, as applicable. Certain of the Company’s investments in real estate debt, such as mezzanine loans and other investments, are unlikely to have readily available market quotations. In such cases, the Company will generally determine the initial value based on the acquisition price of such investment if acquired by the Company or the par value of such investment if originated by the Company. Following the initial measurement, the Company will determine fair value by utilizing or reviewing certain of the following (i) market yield data, (ii) discounted cash flow modeling, (iii) collateral asset performance, (iv) local or macro real estate performance, (v) capital market conditions, (vi) debt yield or loan-to-value ratios, and (vii) borrower financial condition and performance. Refer to Note 5 for additional details on the Company’s investments in real estate debt. The Company has elected to apply the measurement alternative under GAAP and measures both the financial assets and financial liabilities of the CMBS securitizations it consolidates using the fair value of the financial liabilities, which it considers more observable than the fair value of the financial assets. The Company’s investments in equity securities of public and private real estate-related companies are reported at fair value. In determining the fair value of public equity securities, the Company utilizes the closing price of such securities in the principal market in which the security trades (Level 1 inputs). The Company’s investment in a preferred equity security is reflected at its fair value as of December 31, 2022 (Level 2 inputs). In determining the fair value, the Company utilizes inputs such as stock volatility, discount rate, and risk-free interest rate. The Company's investment in a private real estate company is reflected at its fair value as of December 31, 2022 (Level 3 inputs). To determine the fair value, the Company utilizes inputs such as the multiples of comparable companies and select financial statement metrics. As of December 31, 2022 and December 31, 2021, the Company’s $0.5 billion and $3.2 billion of equity securities, respectively, were recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets. The resulting unrealized and realized gains and losses from investments in equity securities of public and private real estate-related companies are recorded as a component of Income from Equity Securities and Interest Rate Derivatives on the Company’s Consolidated Statements of Operations. During the years ended December 31, 2022, 2021 and 2020, the Company recognized $520.8 million of net unrealized/realized loss, $848.2 million unrealized gain, and $43.7 million of net unrealized/realized gain, respectively, on its investments in equity securities. The Company has elected the FVO for certain of its investments in unconsolidated entities and therefore, reports these investments at fair value. The Company separately values the assets and liabilities of the investments in unconsolidated entities. To determine the fair value of the real estate assets of the investments in unconsolidated entities, the Company utilizes a discounted cash flow methodology or market comparable methodology, taking into consideration various factors including discount rate, exit capitalization rate and multiples of comparable companies. The Company determines the fair value of the indebtedness of the investments in unconsolidated entities by modeling the cash flows required by the debt agreements and discounting them back to the present value using weighted average cost of capital. Additionally, the Company considers current market rates and conditions by evaluating similar borrowing agreements with comparable loan-to-value ratios and credit profiles. After the fair value of the assets and liabilities are determined, the Company applies its ownership interest to the net asset value and reflects this amount as its investments in unconsolidated entities at fair value. The inputs used in determining the Company’s investments in unconsolidated entities carried at fair value are considered Level 3. The Company’s derivative financial instruments are reported at fair value. As of December 31, 2022 and December 31, 2021, the Company’s derivative financial instruments consisted of foreign currency and interest rate contracts. The fair values of the Company’s foreign currency and interest rate contracts were estimated using advice from a third-party derivative specialist, based on contractual cash flows and observable inputs comprising yield curves, foreign currency rates and credit spreads (Level 2 inputs). The following table details the Company's assets and liabilities measured at fair value on a recurring basis ($ in thousands): December 31, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Investments in real estate debt $ — $ 6,460,520 $ 1,541,183 $ 8,001,703 $ — $ 5,730,269 $ 1,240,337 $ 6,970,606 Real estate debt held by consolidated securitization vehicles, at fair value — 17,030,387 — 17,030,387 — 16,590,050 465,936 17,055,986 Equity securities 52,512 253,199 224,408 530,119 2,558,952 442,300 224,408 3,225,660 Investments in unconsolidated entities — — 4,947,251 4,947,251 — — 1,613,646 1,613,646 Interest rate and foreign currency hedging derivatives (1) — 3,033,595 — 3,033,595 — 41,453 — 41,453 Total $ 52,512 $ 26,777,701 $ 6,712,842 $ 33,543,055 $ 2,558,952 $ 22,804,072 $ 3,544,327 $ 28,907,351 Liabilities: Senior obligation of consolidated securitization vehicles, at fair value $ — $ 15,288,598 $ — $ 15,288,598 $ — $ 14,545,992 $ 484,661 $ 15,030,653 Interest rate and foreign currency hedging derivatives (2) — 50,557 — 50,557 — 45,597 — 45,597 Total $ — $ 15,339,155 $ — $ 15,339,155 $ — $ 14,591,589 $ 484,661 $ 15,076,250 (1) Included in Other Assets in the Company’s Consolidated Balance Sheets. (2) Included in Other Liabilities in the Company’s Consolidated Balance Sheets. The following table details the Company’s assets and liabilities measured at fair value on a recurring basis using Level 3 inputs ($ in thousands): Investments in Equity Securities Investments in Real estate loans held by consolidated securitization vehicles, Total Assets Senior obligation of consolidated securitization vehicles, at fair value Balance as of December 31, 2021 $ 1,240,337 $ 224,408 $ 1,613,646 $ 465,936 $ 3,544,327 $ 484,661 Purchases 1,238,006 — 3,070,151 — 4,308,157 — Sales and repayments (914,138) — — — (914,138) — Distributions received — — (60,978) — (60,978) — Included in net income Income from unconsolidated entities measured at fair value — — 324,432 — 324,432 — Realized loss included in income (loss) from investments in real estate debt (64,526) — — — (64,526) — Unrealized gain included in income (loss) from investments in real estate debt 41,504 — — — 41,504 — Transfers out of Level 3 — — — (465,936) (465,936) (484,661) Balance as of December 31, 2022 $ 1,541,183 $ 224,408 $ 4,947,251 $ — $ 6,712,842 $ — The following tables contain the quantitative inputs and assumptions used for items categorized in Level 3 of the fair value hierarchy ($ in thousands): December 31, 2022 Fair Value Valuation Technique Unobservable Inputs Weighted Average Rate Impact to Valuation from an Increase in Input Assets: Investments in real estate loans $ 1,541,183 Discounted cash flow Market Yield 9.6% Decrease Equity securities $ 224,408 Market comparable Enterprise Value/ 18.5x Increase Investments in unconsolidated entities $ 4,399,935 Discounted cash flow Discount Rate 6.8% Decrease Exit Capitalization Rate 4.9% Decrease Weighted Average Cost of Capital 6.5% Decrease $ 547,316 Market comparable LTM EBITDA Multiple 10.8x Increase December 31, 2021 Fair Value Valuation Technique Unobservable Input Rate Impact to Valuation from an Increase in Input Assets: Investments in real estate loans $ 1,240,337 Discounted cash flow Market Yield 5.2% Decrease Equity securities $ 224,408 Market comparable Enterprise Value/ 21.1x Increase Investments in unconsolidated entities $ 1,613,646 Discounted cash flow Discount Rate 5.9% Decrease Exit Capitalization Rate 4.6% Decrease Weighted Average Cost of Capital 9.1% Decrease Real estate loans held by consolidated securitization vehicles, at fair value $ 465,936 Third Party Price Measurement Alternative (1) N/A Increase Liabilities: Senior obligation of consolidated securitization vehicles, at fair value $ 484,661 Third Party Price Single Broker Quote N/A Increase (1) The Company has elected to apply the measurement alternative under GAAP and measures both the financial assets and financial liabilities of the CMBS securitizations it consolidates using the fair value of the financial liabilities, which it considers more observable than the fair value of the financial assets. Valuation of assets measured at fair value on a nonrecurring basis Certain of the Company’s assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments, such as when there is evidence of impairment, and therefore measured at fair value on a nonrecurring basis. The Company reviews its real estate properties for impairment each quarter or when there is an event of change in circumstances that could indicate the carrying amount of the real estate value may not be recoverable. During the year ended December 31, 2022, the Company recognized an impairment of $33.6 million related to its held-for-sale real estate investments. The fair value of such held-for-sale real estate investments as of December 31, 2022 was $178.4 million and is primarily based on the sale price per the binding executed contracts which is considered a Level 2 input. Refer to Note 3 for additional details of the impairments. Valuation of liabilities not measured at fair value As of December 31, 2022, the fair value of the Company’s mortgage notes, secured term loans, secured revolving credit facilities, secured financings on investments in real estate debt, and unsecured revolving credit facilities was $1.4 billion below carrying value. As of December 31, 2021, the fair value of the Company’s mortgage notes, term loans, and secured revolving credit facilities, secured financings on investments in real estate debt, and unsecured revolving credit facilities was $108.6 million above carrying value. Fair value of the Company’s indebtedness is estimated by modeling the cash flows required by the Company’s debt agreements and discounting them back to the present value using an estimated market yield. Additionally, the Company considers current market rates and conditions by evaluating similar borrowing agreements with comparable loan-to-value ratios and credit profiles. The inputs used in determining the fair value of the Company’s indebtedness are considered Level 3. |
Earnings Per Share | Earnings Per Share Basic net loss per share of common stock is determined by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. All classes of common stock are allocated net income/(loss) at the same rate per share and receive the same gross distribution per share. |
Stock-Based Compensation | Stock-Based CompensationThe Company’s stock-based compensation consists of incentive compensation awards issued to certain employees of affiliate portfolio company service providers and certain employees of Simply Self Storage, Home Partners of America (“HPA”), and April Housing, all of which are indirect, wholly-owned subsidiaries of BREIT. Such awards vest over the life of the awards and stock-based compensation expense is recognized for these awards on a graded vesting attribution method over the applicable vesting period of each award, based on the value of the awards on their grant date, as adjusted for forfeitures. The awards are subject to service periods ranging from three |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update ("ASU") 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” or ASU 2020-04. ASU 2020-04 provides optional expedients and exceptions to GAAP requirements for modifications on debt instruments, leases, derivatives, and other contracts, related to the market transition from LIBOR, and certain other floating rate benchmark indices, or collectively, "IBORs", to alternative reference rates. ASU 2020-04 generally considers contract modifications related to reference rate reform to be an event that does not require contract remeasurement at the modification date nor a reassessment of a previous accounting determination. In January 2021, the FASB issued ASU 2021-01 “Reference Rate Reform (Topic 848): Scope,” or ASU 2021-01. ASU 2021-01 clarifies that the practical expedients in ASU 2020-04 apply to derivatives impacted by changes in the interest rate used for margining, discounting, or contract price alignment. In December 2022, the FASB issued ASU 2022-06 "Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848", or ASU 2022-06. ASU 2022-06 deferred the sunset date of ASU 2020-04 to December 31, 2024. The guidance in ASU 2020-04 is optional and may be elected over time, through December 31, 2024, as reference rate reform activities occur. Once ASU 2020-04 is elected, the guidance must be applied prospectively for all eligible contract modifications. The Company has not adopted any of the optional expedients or exceptions as of December 31, 2022, but will continue to evaluate the possible adoption of any such expedients or exceptions during the effective period as circumstances evolve. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Schedule of Error Corrections and Prior Period Adjustments | The following table details the adjustments to the Company's Consolidated Balance Sheets ($ in thousands): December 31, 2021 As Reported Adjustment As Adjusted Assets Investments in real estate debt $ 8,995,939 $ (2,025,333) $ 6,970,606 Real estate loans held by consolidated securitization vehicles, at fair value — 17,055,986 17,055,986 Total assets 91,308,211 15,030,653 106,338,864 Liabilities and Equity Senior obligations of consolidated securitization vehicles, at fair value — 15,030,653 15,030,653 Total liabilities 51,527,615 15,030,653 66,558,268 Equity Total equity $ 39,029,926 $ — $ 39,029,926 The following table details the adjustments to the Company's Consolidated Statements of Operations ($ in thousands): Year Ended December 31, 2021 As Reported Adjustment As Adjusted Other income (expense) Income from investments in real estate debt $ 498,107 $ (106,240) $ 391,867 Change in net assets of consolidated securitization vehicles — 106,240 106,240 Total other income (expense) 752,108 — 752,108 Net Loss $ (836,164) $ — $ (836,164) Year Ended December 31, 2020 As Reported Adjustment As Adjusted Other income (expense) Loss from investments in real estate debt $ (120,917) $ 46,564 $ (74,353) Change in net assets of consolidated securitization vehicles — (46,564) (46,564) Total other income (expense) (588,228) — (588,228) Net Loss $ (867,402) $ — $ (867,402) The following table details the adjustments to the Company's Consolidated Statements of Cash Flows ($ in thousands): Year Ended December 31, 2021 As Reported Adjustment As Adjusted Cash flows from investing activities: Purchase of investments in real estate debt $ (5,880,308) $ 56,171 $ (5,824,137) Proceeds from sale/repayment of investments in real estate debt 1,642,388 (132,916) 1,509,472 Proceeds from paydowns of real estate loans held by consolidated securitization vehicles — 9,681 9,681 Net cash used in investing activities (40,572,094) (67,064) (40,639,158) Cash flows from financing activities: Borrowings of senior obligations of consolidated securitization vehicles — 132,916 132,916 Repayment of senior obligations of consolidated securitization vehicles — (65,852) (65,852) Net cash provided by financing activities 41,161,922 67,064 41,228,986 Non-cash investing and financing activities: Consolidation of securitization vehicles $ — $ 10,744,399 $ 10,744,399 Deconsolidation of securitization vehicles $ — $ (758,500) $ (758,500) Year Ended December 31, 2020 As Reported Adjustment As Adjusted Cash flows from investing activities: Proceeds from sale/repayment of investments in real estate debt $ 993,229 $ (10,000) $ 983,229 Proceeds from paydowns of real estate loans held by consolidated securitization vehicles — 4,283 4,283 Net cash used in investing activities (8,038,831) (5,717) (8,044,548) Cash flows from financing activities: Borrowings of senior obligations of consolidated securitization vehicles — 10,000 10,000 Repayment of senior obligations of consolidated securitization vehicles — (4,283) (4,283) Net cash provided by financing activities $ 7,001,748 $ 5,717 $ 7,007,465 |
Property, Plant and Equipment | The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows: Description Depreciable Life Building 30 - 42 years Building- and land improvements 10 years Furniture, fixtures and equipment 1 - 10 years Lease intangibles Over lease term |
Summary of Selling Commissions Dealer Manager Fees and Stockholder Servicing Fees | The following table details the selling commissions, dealer manager fees, and stockholder servicing fees for each applicable share class as of December 31, 2022: Class S Class I Class T Class D Class C Selling commissions and dealer manager fees (% of transaction price) up to 3.5% — up to 3.5% up to 1.5% — Stockholder servicing fee (% of NAV) 0.85% — 0.85% 0.25% — |
Assets Measured at Fair Value on a Recurring Basis | The following table details the Company's assets and liabilities measured at fair value on a recurring basis ($ in thousands): December 31, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Investments in real estate debt $ — $ 6,460,520 $ 1,541,183 $ 8,001,703 $ — $ 5,730,269 $ 1,240,337 $ 6,970,606 Real estate debt held by consolidated securitization vehicles, at fair value — 17,030,387 — 17,030,387 — 16,590,050 465,936 17,055,986 Equity securities 52,512 253,199 224,408 530,119 2,558,952 442,300 224,408 3,225,660 Investments in unconsolidated entities — — 4,947,251 4,947,251 — — 1,613,646 1,613,646 Interest rate and foreign currency hedging derivatives (1) — 3,033,595 — 3,033,595 — 41,453 — 41,453 Total $ 52,512 $ 26,777,701 $ 6,712,842 $ 33,543,055 $ 2,558,952 $ 22,804,072 $ 3,544,327 $ 28,907,351 Liabilities: Senior obligation of consolidated securitization vehicles, at fair value $ — $ 15,288,598 $ — $ 15,288,598 $ — $ 14,545,992 $ 484,661 $ 15,030,653 Interest rate and foreign currency hedging derivatives (2) — 50,557 — 50,557 — 45,597 — 45,597 Total $ — $ 15,339,155 $ — $ 15,339,155 $ — $ 14,591,589 $ 484,661 $ 15,076,250 (1) Included in Other Assets in the Company’s Consolidated Balance Sheets. (2) Included in Other Liabilities in the Company’s Consolidated Balance Sheets. |
Assets Measured on Recurring Basis | The following table details the Company’s assets and liabilities measured at fair value on a recurring basis using Level 3 inputs ($ in thousands): Investments in Equity Securities Investments in Real estate loans held by consolidated securitization vehicles, Total Assets Senior obligation of consolidated securitization vehicles, at fair value Balance as of December 31, 2021 $ 1,240,337 $ 224,408 $ 1,613,646 $ 465,936 $ 3,544,327 $ 484,661 Purchases 1,238,006 — 3,070,151 — 4,308,157 — Sales and repayments (914,138) — — — (914,138) — Distributions received — — (60,978) — (60,978) — Included in net income Income from unconsolidated entities measured at fair value — — 324,432 — 324,432 — Realized loss included in income (loss) from investments in real estate debt (64,526) — — — (64,526) — Unrealized gain included in income (loss) from investments in real estate debt 41,504 — — — 41,504 — Transfers out of Level 3 — — — (465,936) (465,936) (484,661) Balance as of December 31, 2022 $ 1,541,183 $ 224,408 $ 4,947,251 $ — $ 6,712,842 $ — |
Summary of Quantitative Inputs and Assumptions Used for Items Categorized in Level 3 of Fair Value Hierarchy | The following tables contain the quantitative inputs and assumptions used for items categorized in Level 3 of the fair value hierarchy ($ in thousands): December 31, 2022 Fair Value Valuation Technique Unobservable Inputs Weighted Average Rate Impact to Valuation from an Increase in Input Assets: Investments in real estate loans $ 1,541,183 Discounted cash flow Market Yield 9.6% Decrease Equity securities $ 224,408 Market comparable Enterprise Value/ 18.5x Increase Investments in unconsolidated entities $ 4,399,935 Discounted cash flow Discount Rate 6.8% Decrease Exit Capitalization Rate 4.9% Decrease Weighted Average Cost of Capital 6.5% Decrease $ 547,316 Market comparable LTM EBITDA Multiple 10.8x Increase December 31, 2021 Fair Value Valuation Technique Unobservable Input Rate Impact to Valuation from an Increase in Input Assets: Investments in real estate loans $ 1,240,337 Discounted cash flow Market Yield 5.2% Decrease Equity securities $ 224,408 Market comparable Enterprise Value/ 21.1x Increase Investments in unconsolidated entities $ 1,613,646 Discounted cash flow Discount Rate 5.9% Decrease Exit Capitalization Rate 4.6% Decrease Weighted Average Cost of Capital 9.1% Decrease Real estate loans held by consolidated securitization vehicles, at fair value $ 465,936 Third Party Price Measurement Alternative (1) N/A Increase Liabilities: Senior obligation of consolidated securitization vehicles, at fair value $ 484,661 Third Party Price Single Broker Quote N/A Increase (1) The Company has elected to apply the measurement alternative under GAAP and measures both the financial assets and financial liabilities of the CMBS securitizations it consolidates using the fair value of the financial liabilities, which it considers more observable than the fair value of the financial assets. |
Summary of Incentive Compensation Awards | The following table details the incentive compensation awards issued to certain employees of Simply Self Storage, HPA and April Housing ($ in thousands): December 31, 2021 For the Year Ended December 31, 2022 December 31, 2022 Plan Year Unrecognized Compensation Cost Forfeiture of unvested awards Value of Awards Issued Amortization of Compensation Cost Unrecognized Compensation Cost Remaining Amortization Period 2021 $ 3,425 $ (75) $ — $ (1,308) $ 2,042 2.0 years 2022 — — 32,683 (11,872) 20,811 2.7 years Total $ 3,425 $ (75) $ 32,683 $ (13,180) $ 22,853 The following table details the incentive compensation awards ($ in thousands): December 31, 2021 For the Year Ended December 31, 2022 December 31, 2022 Plan Year Unrecognized Compensation Cost Forfeiture of unvested awards Value of Awards Issued Amortization of Compensation Cost Unrecognized Compensation Cost Remaining Amortization Period 2019 $ 1,520 $ (168) $ — $ (1,352) $ — — 2020 — — — — — — 2021 37,201 (3,279) — (10,761) 23,161 2.0 years 2022 — — 35,104 (10,215) 24,889 2.7 years $ 38,721 $ (3,447) $ 35,104 $ (22,328) $ 48,050 |
Investments in Real Estate (Tab
Investments in Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Real Estate [Abstract] | |
Schedule of Investments in Real Estate, Net | Investments in real estate, net consisted of the following ($ in thousands): December 31, 2022 December 31, 2021 Building and building improvements $ 81,914,789 $ 53,954,920 Land and land improvements 18,635,672 14,652,913 Furniture, fixtures and equipment 2,301,683 963,686 Right of use asset - operating leases (1) 1,090,782 461,186 Right of use asset - financing leases (1) 72,872 72,862 Total 104,015,798 70,105,567 Accumulated depreciation and amortization (5,866,306) (3,163,914) Investments in real estate, net $ 98,149,492 $ 66,941,653 (1) Refer to Note 15 for additional details on the Company’s leases. |
Schedule of Details of Properties Acquired | The following table details the properties acquired during the year ended December 31, 2022 ($ in thousands): Segments Purchase Price (1) Number of Transactions Number of Properties Sq. Ft. (in thousands)/Units/Keys Rental Housing properties (2)(3) $ 27,358,440 17 270 72,193 units Net Lease properties 4,026,768 1 1 6,901 sq. ft. Office properties (3) 1,794,585 4 8 2,693 sq. ft. Retail properties (3) 1,097,412 — 51 5,598 sq. ft. Self storage properties 542,335 6 34 2,913 sq. ft. Hospitality properties 504,866 1 7 1,403 keys Data center properties 331,184 1 3 792 sq. ft. Industrial properties 218,360 3 13 1,666 sq. ft. $ 35,873,950 33 387 (1) Purchase price is inclusive of acquisition-related costs. (2) Purchase price includes 5,761 wholly-owned single family rental homes, that are not included in the number of properties. (3) Purchase price for the acquisition of Preferred Apartment Communities (“PAC”) includes 45 rental housing properties, 51 retail properties and 3 office properties. The acquisition of PAC is included as a single transaction in the number of transactions column for rental housing properties. The following table details the properties acquired during the year ended December 31, 2021 ($ in thousands): Segments Purchase Price (1) Number of Transactions Number of Properties Sq. Ft. (in thousands)/Units/Keys Rental Housing properties (2) $ 27,439,966 34 672 114,014 units Industrial properties 6,942,733 17 272 54,326 sq. ft. Retail properties 868,867 2 13 2,454 sq. ft. Hospitality 642,994 3 8 1,475 keys Office properties 450,093 2 4 727 sq. ft. Self storage properties 410,299 6 31 2,273 sq. ft. Data center properties 180,057 1 2 430 sq. ft. $ 36,935,009 65 1,002 (1) Purchase price is inclusive of acquisition-related costs. (2) Purchase price includes 13,030 wholly-owned single family rental homes, that are not included in the number of properties. |
Schedule of Purchase Price Allocation of Properties | The following table details the purchase price allocation for the properties acquired during the year ended December 31, 2022 and 2021 ($ in thousands): For the Year Ended For the Year Ended Building and building improvements $ 29,327,825 $ 27,826,619 Land and land improvements 4,429,122 7,162,583 Furniture, fixtures and equipment 738,748 437,801 In-place lease intangibles 921,109 1,104,530 Above-market lease intangibles 16,281 17,820 Below-market lease intangibles (122,217) (197,404) Customer relationships 197,000 — Right of use asset - operating leases 634,354 — Right of use lease liability- operating leases (460,901) — Prepaid ground lease rent — 174,584 Other 192,629 408,476 Total purchase price $ 35,873,950 $ 36,935,009 Assumed debt (1) $ 4,150,467 $ 5,494,319 Net purchase price $ 31,723,483 $ 31,440,690 (1) Refer to Note 7 for additional details on the Company’s debt, which includes mortgage notes, secured term loans, and secured revolving credit facilities. |
Schedule of Details of Dispositions | The following table details the dispositions during the periods set forth below ($ in thousands): For the Year Ended For the Year Ended For the Year Ended Segments Number of Properties Net Proceeds Net Gain (1) Number of Properties Net Proceeds Net Gain (1) Number of Properties Net Proceeds Net Gain (1) Rental Housing properties (2) 55 $ 1,885,001 $ 468,259 11 $ 267,045 $ 7,881 7 $ 295,855 $ 77,617 Industrial properties 64 887,358 286,295 — — — 1 4,488 371 Self Storage properties 7 121,009 45,501 — — — — — — Hospitality properties 2 25,347 8,791 — — — 1 134,537 35,185 128 $ 2,918,715 $ 808,846 11 $ 267,045 $ 7,881 9 $ 434,880 $ 113,173 (1) Net gain includes losses of $86.7 million and $2.7 million on 11 rental housing properties and nine industrial properties sold, respectively, during the year ended December 31, 2022. For the year ended December 31, 2021, net gain includes losses of $24.5 million. There were no losses for the year ended December 31, 2020. (2) Net proceeds and net gain include 573 and 229 single family rental homes sold during the years ended December 31, 2022 and 2021 , respectively, that are not included in the number of properties. |
Summary of Assets and Liabilities of Properties Classified as Held for Sale | The following table details the assets and liabilities of the Company’s properties classified as held-for-sale ($ in thousands): Assets: December 31, 2022 December 31, 2021 Investments in real estate, net $ 378,183 $ 193,653 Other assets 2,084 2,591 Total assets $ 380,267 $ 196,244 Liabilities: Mortgage notes, net $ 198,036 $ 109,655 Other liabilities 77,016 4,722 Total liabilities $ 275,052 $ 114,377 |
Investments in Unconsolidated_2
Investments in Unconsolidated Entities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Summary of Equity Method Investment and Income in Unconsolidated Entities | The following tables detail the Company’s investments in unconsolidated entities ($ in thousands): December 31, 2022 Investment in Joint Venture Segment Number of Joint Ventures Number of Properties Ownership Book Value Unconsolidated entities carried at historical cost: QTS Data Centers (1) Data Centers 1 62 35.7% $ 1,657,778 MGM Grand & Mandalay Bay Net Lease 1 2 49.9% 834,148 Rental Housing investments (2) Rental Housing 92 87 12.2% - 52.0% 1,275,365 Industrial investments (3) Industrial 3 56 10.0% - 55.0% 242,883 Retail investments Retail 2 7 50.0% 97,971 Hospitality investment Hospitality 1 196 30.0% 314,006 Total unconsolidated entities carried at historical cost 100 410 4,422,151 Unconsolidated entities carried at fair value: Industrial investments (4) Industrial 12 2,135 7.9% - 85.0% 3,751,864 Office investments Office 1 1 49.0% 520,976 Data Center investments (5) Data Centers 1 N/A 12.4% 674,411 Total unconsolidated entities carried at fair value 14 2,136 4,947,251 Total 114 2,546 $ 9,369,402 (1) The Company along with certain Blackstone-managed investment vehicles formed a joint venture (“QTS Data Centers”) and acquired all outstanding shares of common stock of QTS Realty Trust (“QTS”). (2) Includes 10,767 wholly-owned single family rental homes, that are not included in the number of properties. (3) Includes $242.9 million from investments in three joint ventures formed by the Company and certain Blackstone-managed investment vehicles. (4) Includes $2.8 billion from investments in four joint ventures formed by the Company and certain Blackstone-managed investment vehicles. (5) Includes $674.4 million from investments in a digital towers joint venture formed by the Company and certain Blackstone-managed investment vehicles. December 31, 2021 Investment in Joint Venture Segment Number of Joint Ventures Number of Properties Ownership Book Value Unconsolidated entities carried at historical cost: QTS Data Centers (1) Data Centers 1 48 35.7% $ 1,394,359 MGM Grand & Mandalay Bay Net Lease 1 2 49.9% 822,736 Rental Housing investments (2) Rental Housing 130 125 12.2% - 52.0% 1,074,832 Industrial investments (3) Industrial 7 51 10.0% - 55.0% 497,491 Retail investments Retail 1 6 50.0% 98,241 Total unconsolidated entities carried at historical cost 140 232 3,887,659 Unconsolidated entities at carried at fair value: Industrial investments (4) Industrial 7 485 7.9% - 85.0% 1,613,646 Total unconsolidated entities carried at fair value 7 485 1,613,646 Total 147 717 $ 5,501,305 (1) The Company along with certain Blackstone-managed investment vehicles formed a joint venture (“QTS Data Centers”) and acquired all outstanding shares of common stock of QTS Realty Trust (“QTS”). (2) Includes 9,774 wholly-owned single family rental homes, that are not included in the number of properties. (3) Includes $291.5 million from investments in three joint ventures formed by the Company and certain Blackstone-managed investment vehicles. The following table details the Company’s income from unconsolidated entities ($ in thousands): For the Year Ended December 31, BREIT Income (Loss) from Unconsolidated Entities Segment Ownership 2022 2021 2020 Unconsolidated entities carried at historical cost: QTS Data Centers Data Centers 35.7% $ (167,805) $ (71,745) $ — MGM Grand & Mandalay Bay Net Lease 49.9% 99,878 100,276 88,571 Rental Housing investments Rental Housing 12.2% - 52.0% (79,148) (17,461) — Industrial investments Industrial 10.0% - 55.0% (310) 1,185 — Retail investments Retail 50.0% (1,007) 167 — Hospitality investment Hospitality 30.0% 6,303 — — Total unconsolidated entities carried at historical cost (142,089) 12,422 88,571 Unconsolidated entities carried at fair value: Industrial investments Industrial 7.9% - 85.0% 320,118 193,558 — Office investments Office 49.0% 4,493 — — Data Center investments Data Centers 12.4% (273) — — Total unconsolidated entities carried at fair value 324,338 193,558 — Total $ 182,249 $ 205,980 $ 88,571 The following tables provide the combined summarized financial information of our unconsolidated joint ventures as of the dates and for the periods set forth below ($ in thousands): Balance Sheets: December 31, 2022 December 31, 2021 Total assets $ 74,497,816 $ 38,438,322 Total liabilities $ 45,934,895 $ 25,402,902 BREIT's share of net equity $ 7,253,656 $ 3,898,861 BREIT fair value adjustment 1,169,369 166,067 BREIT outside basis 946,377 1,436,377 BREIT investments in unconsolidated entities $ 9,369,402 $ 5,501,305 For the Year Ended December 31, Income Statements: 2022 2021 2020 Total revenues $ 6,869,106 $ 1,397,424 $ 346,482 Net income $ 208,880 $ 136,869 $ 177,757 BREIT's share of net income $ 143,941 $ 56,246 $ 88,701 BREIT fair value adjustment 86,106 166,067 — Amortization of outside basis (47,798) (16,333) (130) BREIT income from unconsolidated entities $ 182,249 $ 205,980 $ 88,571 |
Investments in Real Estate De_2
Investments in Real Estate Debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Investments [Abstract] | |
Summary of Investments in Real Estate Debt | The following tables detail the Company’s investments in real estate debt ($ in thousands): December 31, 2022 Type of Security/Loan (1) Weighted Average Coupon (2) Weighted Average Maturity Date (3) Face Cost Fair CMBS (4) L+3.9% 12/10/2032 $ 6,474,823 $ 6,473,296 $ 5,943,403 RMBS 4.5% 1/21/2053 404,953 393,511 292,516 Corporate bonds 4.9% 3/17/2031 115,980 126,052 105,558 Total real estate securities 6.4% 11/4/2033 6,995,756 6,992,859 6,341,477 Commercial real estate loans L+5.5% 7/17/2026 1,489,296 1,499,691 1,483,358 Other investments (5) 3.7% 9/21/2029 209,746 183,017 176,868 Total investments in real estate debt 6.8% 5/25/2032 $ 8,694,798 $ 8,675,567 $ 8,001,703 December 31, 2021 Type of Security/Loan (1) Weighted Average Coupon (2) Weighted Average Maturity Date (3) Face Cost Fair CMBS (4) L+3.5% 8/8/2033 $ 5,097,318 $ 5,068,099 $ 5,029,942 RMBS 3.9% 5/24/2061 147,170 146,023 144,691 Corporate bonds 4.8% 12/10/2028 135,950 135,952 136,469 Total real estate securities 3.6% 3/29/2034 5,380,438 5,350,074 5,311,102 Commercial real estate loans L+4.4% 1/19/2025 1,474,617 1,473,807 1,460,717 Other investments (5) 3.7% 7/25/2029 227,958 198,909 198,787 Total investments in real estate debt 3.7% 3/7/2032 $ 7,083,013 $ 7,022,790 $ 6,970,606 (1) This table does not include the Company’s Controlling Class Securities in certain CMBS securitizations that have been consolidated on the Company’s financial statements. The underlying collateral loans and the senior CMBS positions owned by third-parties of such securitizations are presented separately on the Company’s Consolidated Balance Sheets. See Note 6 to the consolidated financial statements. (2) The term “L” refers to the relevant floating benchmark rates, which include USD LIBOR, EURIBOR, SOFR and SONIA, as applicable to each security and loan. Fixed rate CMBS and commercial real estate loans are reflected as a spread over the relevant floating benchmark rates for purposes of the weighted-averages. Weighted Average Coupon for CMBS does not include zero-coupon securities. As of December 31, 2022 and 2021, the Company had interest rate swaps outstanding with a notional value of $1.4 billion and $1.1 billion, respectively, that effectively converts a portion of its fixed rate investments in real estate debt to floating rates. Total weighted average coupon does not include the impact of derivatives. (3) Weighted average maturity date is based on the fully extended maturity date of the instrument. (4) Face amount excludes interest-only securities with a notional amount of $1.1 billion as of both December 31, 2022 and 2021. (5) Includes an interest in an unconsolidated joint venture that holds investments in real estate debt. |
Summary of Collateral Type of Properties Securing Investments in Real Estate Debt | The following table details the collateral type of the properties securing the Company’s investments in real estate debt ($ in thousands): December 31, 2022 December 31, 2021 Collateral (1) Cost Fair Percentage Based on Fair Value Cost Fair Percentage Based on Fair Value Industrial $ 2,681,299 $ 2,483,592 32% $ 2,597,948 $ 2,573,935 37% Rental Housing (2) 2,119,282 1,940,795 24% 1,250,446 1,261,455 18% Hospitality 1,884,353 1,768,090 22% 1,866,683 1,848,015 27% Net Lease 983,374 947,368 12% 8,885 8,779 –% Office 552,016 439,938 5% 546,548 527,148 8% Other 360,903 339,609 4% 331,169 328,745 5% Diversified 94,340 82,311 1% 403,737 405,569 5% Retail — — —% 17,374 16,960 –% Total $ 8,675,567 $ 8,001,703 100% $ 7,022,790 $ 6,970,606 100% (1) This table does not include the Company’s Controlling Class Securities in certain CMBS securitizations that have been consolidated on the Company’s financial statements. The underlying collateral loans and the senior CMBS positions owned by third-parties of such securitizations are presented separately on the Company’s Consolidated Balance Sheets. See Note 6 to the consolidated financial statements. (2) Rental Housing investments in real estate debt are collateralized by various forms of rental housing including apartments and single family rental homes. |
Summary of Credit Rating of Investments in Real Estate Debt | The following table details the credit rating of the Company’s investments in real estate debt ($ in thousands): December 31, 2022 December 31, 2021 Credit Rating (1) Cost Fair Percentage Based on Fair Value Cost Fair Percentage Based on Fair Value A $ 91,809 $ 86,055 1% $ 127,118 $ 125,420 2% BBB 1,077,419 1,024,908 13% 340,326 337,509 5% BB 1,858,101 1,659,281 21% 1,446,160 1,441,879 21% B 1,609,017 1,424,940 18% 1,459,218 1,436,271 21% CCC 40,486 33,225 —% 24,338 24,242 —% Private commercial real estate loans 1,682,708 1,660,226 21% 1,598,701 1,585,738 23% Not rated (2) 2,316,027 2,113,068 26% 2,026,929 2,019,547 28% Total $ 8,675,567 $ 8,001,703 100% $ 7,022,790 $ 6,970,606 100% (1) This table does not include the Company’s Controlling Class Securities in certain CMBS securitizations that have been consolidated on the Company’s financial statements. The underlying collateral loans and the senior CMBS positions owned by third-parties of such securitizations are presented separately on the Company’s Consolidated Balance Sheets. See Note 6 to the consolidated financial statements. (2) As of December 31, 2022, not rated positions have a weighted-average LTV at origination of 64.0% and are primarily composed of 62.8% industrial and 27.4% rental housing assets, and includes interest-only securities with a fair value of $17.0 million. |
Schedule of Real Estate Investment | The following table details the amounts recognized for the Company’s investments in real estate debt ($ in thousands): Year Ended December 31, 2022 2021 2020 Interest income $ 472,855 $ 181,332 $ 187,018 Unrealized (loss) gain (629,079) 56,148 (131,419) Realized (loss) gain (116,262) 47,963 (21,240) Total (272,486) 285,443 34,359 Income from interest rate swaps and other derivatives 220,159 81,886 (73,593) Income from secured financings of investments in real estate debt (1) 36,644 25,798 (33,540) Other loss (11,390) (1,260) (1,579) Total (loss) income from investments in real estate debt $ (27,073) $ 391,867 $ (74,353) (1) Represents unrealized and realized gains and (losses). |
Schedule of Company's Affiliate Investments In Real Estate Debt | The following table details the Company’s investments in affiliated real estate debt ($ in thousands): Fair Value Income (Loss) Year Ended December 31, December 31, 2022 December 31, 2021 2022 2021 2020 CMBS $ 1,683,765 $ 3,099,694 $ (107,702) $ 105,421 $ (14,950) Commercial real estate loans 835,846 556,571 41,012 (11,611) 79,689 Total $ 2,519,611 $ 3,656,265 $ (66,690) $ 93,810 $ 64,739 |
Consolidated Securitization V_2
Consolidated Securitization Vehicles (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Transfers and Servicing [Abstract] | |
Schedule of Loans Held by the Consolidated Securitization Vehicles and the Related Senior Obligations of Consolidated Securitization Vehicles | The following tables detail the real estate loans held by the consolidated securitization vehicles and the related senior obligations of consolidated securitization vehicles ($ in thousands): December 31, 2022 Count Principal Fair Wtd. Avg. Yield/Cost (1) Wtd. Avg. Term (2) Real estate loans held by consolidated securitization vehicles 292 $ 17,527,441 $ 17,030,387 5.1% 3/24/2025 Senior obligations of consolidated securitization vehicles 22 15,565,671 15,288,598 4.9% 10/18/2025 Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles 22 $ 1,961,770 $ 1,741,789 6.6% 5/6/2025 December 31, 2021 Count Principal Fair Wtd. Avg. Yield/Cost (1) Wtd. Avg. Term (2) Real estate loans held by consolidated securitization vehicles 173 $ 16,873,465 $ 17,055,986 2.4% 10/2/2024 Senior obligations of consolidated securitization vehicles 22 14,780,036 15,030,653 2.1% 3/14/2025 Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles 22 $ 2,093,429 $ 2,025,333 3.6% 11/01/2024 (1) The weighted-average yield and cost represent the all-in rate, which includes both fixed and floating rates, as applicable to each securitized debt obligation. (2) Loan term represents weighted-average final maturity, assuming all extension options are exercised by the borrower. Repayments of senior obligations of consolidated securitization vehicles are tied to timing of the related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of the securitizations. |
Mortgage Notes, Secured Term _2
Mortgage Notes, Secured Term Loans, and Secured Revolving Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Summary of Company's Mortgage Notes, Term Loans and Secured Revolving Credit Facilities | The following table details the mortgage notes, secured term loans, and secured revolving credit facilities secured by the Company’s real estate ($ in thousands): December 31, 2022 Principal Balance Outstanding Indebtedness Weighted Average Interest Rate (1) Weighted Average Maturity Date (2)(3) Maximum December 31, 2022 December 31, 2021 Fixed rate loans: Fixed rate mortgages (4) 3.7% 12/15/2028 N/A $ 25,152,361 $ 19,086,525 Variable rate loans: Variable rate mortgages and secured term loans L+2.4% 1/30/2027 N/A 34,141,570 20,075,465 Variable rate secured revolving credit facilities (5) L+1.6% 6/5/2026 $ 4,211,100 2,608,778 1,614,550 Variable rate warehouse facilities (6) L+1.9% 10/4/2025 $ 4,284,381 3,728,340 794,141 Total variable rate loans L+2.3% 12/2/2026 40,478,688 22,484,156 Total loans secured by real estate 5.5% 9/13/2027 65,631,049 41,570,681 (Discount) premium on assumed debt, net (121,435) 68,706 Deferred financing costs, net (546,911) (311,999) Mortgage notes, secured term loans, and secured revolving credit facilities, net $ 64,962,703 $ 41,327,388 (1) The term “L” refers to the relevant floating benchmark rates, which include one-month LIBOR, three-month LIBOR, 30-day SOFR, and one-month CDOR as applicable to each loan. As of December 31, 2022, we have outstanding interest rate swaps with an aggregate notional balance of $32.4 billion and interest rate caps with an aggregate notional balance of $14.1 billion that mitigate our exposure to potential future interest rate increases under our floating-rate debt. Total weighted average interest rate does not include the impact of derivatives. The net weighted average interest rate including the impact of derivatives is 4.3%. (2) Weighted average maturity assumes maximum maturity date (including any extensions), where the Company, at its sole discretion, has one or more extension options. (3) The majority of the Company’s mortgages contain yield or spread maintenance provisions. (4) Includes $364.5 million and $396.3 million of loans related to our investment in affordable housing properties as of December 31, 2022 and 2021, respectively. Such loans are generally with municipalities, housing authorities, and other third parties administered through government sponsored affordable housing programs. Certain of these loans may be forgiven if specific affordable housing conditions are maintained. (5) Additional borrowings under the Company's variable rate secured revolving credit facilities are immediately available. (6) Additional borrowings under the Company's variable rate warehouse facilities require additional collateral, which are subject to lender approval. |
Summary of Future Principal Payment Due Under Company's Mortgage Notes, Term Loans, and Secured Revolving Credit Facilities | The following table details the future principal payments due under the Company’s mortgage notes, secured term loans, and secured revolving credit facilities as of December 31, 2022 ($ in thousands): Year Amount 2023 $ 632,020 2024 4,755,792 2025 9,182,374 2026 17,493,421 2027 19,148,859 Thereafter 14,418,583 Total $ 65,631,049 |
Secured Financings on Investm_2
Secured Financings on Investments in Real Estate Debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Repurchase Agreements [Abstract] | |
Summary of Secured Financings on Investments in Real Estate Debt | The following tables detail the Company’s secured financings of investments in real estate debt ($ in thousands): December 31, 2022 Collateral Type Borrowings Outstanding Collateral Assets (1) Weighted Average Interest Rate (2) Weighted Average Maturity Date CMBS $ 4,482,728 $ 7,447,672 L+1.3% 12/27/2023 RMBS 220,694 294,337 L+1.1% 11/18/2023 Commercial real estate loans 163,547 259,224 L+1.9% 3/23/2024 Corporate bonds 99,716 137,084 L+1.1% 10/5/2023 $ 4,966,685 $ 8,138,317 L+1.3% December 31, 2021 Collateral Type Borrowings Outstanding Collateral Assets (1) Weighted Average Interest Rate (2) Weighted Average Maturity Date CMBS $ 4,308,015 $ 6,604,524 L+0.9% 1/20/2023 Commercial real estate loans 224,510 345,400 L+1.8% 4/2/2022 Corporate bonds 90,578 135,355 L+0.8% 11/17/2022 RMBS 83,529 125,967 L+0.9% 12/31/2022 $ 4,706,632 $ 7,211,246 L+1.0% (1) Represents the fair value of the Company’s investments in real estate debt that serve as collateral. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Summary of Components of Due to Affiliates | The following table details the components of due to affiliates ($ in thousands): December 31, 2022 December 31, 2021 Accrued stockholder servicing fee $ 1,588,178 $ 1,235,592 Performance participation allocation — — Accrued management fee 71,644 56,607 Accrued affiliate service provider expenses 14,975 12,880 Advanced organization and offering costs — 2,045 Other 1,511 2,323 Total $ 1,676,308 $ 1,309,447 |
Schedule of Related Party Expenses Incurred and Amortization of Incentive Compensation Awards Capitalized Support Services | The following table details the amounts incurred for affiliate service providers ($ in thousands): Affiliate Service Amortization of Capitalized Transaction Year Ended December 31, Year Ended December 31, Year Ended December 31, 2022 2021 2020 2022 2021 2020 2022 2021 2020 Link $ 99,798 $ 68,277 $ 53,836 $ 8,929 $ 6,174 $ 727 $ 5,541 $ 3,696 $ 3,366 LivCor 78,490 39,481 27,144 9,073 6,235 214 10,762 6,529 3,924 Revantage (1) 28,984 3,029 1,951 1,668 — — — 8,696 — BRE 17,374 11,565 15,109 1,183 728 435 261 127 — ShopCore 15,269 6,427 5,248 631 271 18 1,213 292 479 Beam 2,572 — — 607 — — 59 — — EOM 2,339 1,912 838 237 160 — 230 — — Longview 1,745 557 — — — — — — — $ 246,571 $ 131,248 $ 104,126 $ 22,328 $ 13,568 $ 1,394 $ 18,066 $ 19,340 $ 7,769 (1) For the years ended December 31, 2022 and 2021, the Revantage affiliate service provider expenses include $0.6 million and $0.1 million, respectively, of costs incurred for services provided to certain of the Company’s investments in unconsolidated entities. The Company's investments in unconsolidated entities did not incur such expenses during the year ended December 31, 2020. |
Summary of Incentive Compensation Awards | The following table details the incentive compensation awards issued to certain employees of Simply Self Storage, HPA and April Housing ($ in thousands): December 31, 2021 For the Year Ended December 31, 2022 December 31, 2022 Plan Year Unrecognized Compensation Cost Forfeiture of unvested awards Value of Awards Issued Amortization of Compensation Cost Unrecognized Compensation Cost Remaining Amortization Period 2021 $ 3,425 $ (75) $ — $ (1,308) $ 2,042 2.0 years 2022 — — 32,683 (11,872) 20,811 2.7 years Total $ 3,425 $ (75) $ 32,683 $ (13,180) $ 22,853 The following table details the incentive compensation awards ($ in thousands): December 31, 2021 For the Year Ended December 31, 2022 December 31, 2022 Plan Year Unrecognized Compensation Cost Forfeiture of unvested awards Value of Awards Issued Amortization of Compensation Cost Unrecognized Compensation Cost Remaining Amortization Period 2019 $ 1,520 $ (168) $ — $ (1,352) $ — — 2020 — — — — — — 2021 37,201 (3,279) — (10,761) 23,161 2.0 years 2022 — — 35,104 (10,215) 24,889 2.7 years $ 38,721 $ (3,447) $ 35,104 $ (22,328) $ 48,050 |
Other Assets and Other Liabil_2
Other Assets and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Assets and Other Liabilities [Abstract] | |
Summary of Components of Other Assets | The following table details the components of other assets ($ in thousands): December 31, 2022 December 31, 2021 Interest rate and foreign currency hedging derivatives $ 3,033,595 $ 41,453 Real estate intangibles, net 1,624,212 1,487,436 Receivables, net 821,309 381,201 Equity securities 530,119 3,225,660 Straight-line rent receivable 454,989 275,200 Held-for-sale assets 380,267 196,244 Single family rental homes risk retention securities 300,718 233,525 Prepaid expenses 146,568 151,188 Deferred leasing costs, net 121,230 84,990 Deferred financing costs, net 103,049 51,535 Due from affiliate (1) 74,857 — Pre-acquisition costs 15,915 153,659 Other 275,120 168,642 Total $ 7,881,948 $ 6,450,733 (1) Refer to the Performance Participation Allocation section of Note 10 for additional information. |
Summary of Components of Other Liabilities | The following table details the components of other liabilities ($ in thousands): December 31, 2022 December 31, 2021 Right of use lease liability - operating leases $ 638,830 $ 180,453 Accounts payable and accrued expenses 470,335 265,754 Accrued interest expense 395,459 215,757 Real estate taxes payable 350,757 211,063 Intangible liabilities, net 330,432 288,643 Held-for-sale liabilities 275,052 114,377 Distribution payable 238,297 190,143 Tenant security deposits 237,891 172,308 Subscriptions received in advance 208,632 1,746,910 Prepaid rental income 188,450 125,250 Stock repurchases payable 151,959 100,540 Securitized debt obligations, net 123,628 200,953 Right of use lease liability - financing leases 77,008 75,730 Interest rate and foreign currency hedging derivatives 50,557 45,597 Other 174,746 250,670 Total $ 3,912,033 $ 4,184,148 |
Intangibles (Tables)
Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Gross Carrying Amount and Accumulated Amortization of Intangible Assets and Liabilities | The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities consisted of the following ($ in thousands): December 31, 2022 December 31, 2021 Intangible assets In-place lease intangibles $ 2,022,087 $ 1,920,331 Indefinite life intangibles 193,182 104,182 Above-market lease intangibles 71,952 60,383 Other intangibles 371,631 69,634 Total intangible assets 2,658,852 2,154,530 Accumulated amortization In-place lease amortization (971,988) (628,163) Above-market lease amortization (31,419) (22,993) Other intangibles amortization (31,233) (15,938) Total accumulated amortization (1,034,640) (667,094) Intangible assets, net $ 1,624,212 $ 1,487,436 Intangible liabilities Below-market lease intangibles $ 476,186 $ 377,132 Total intangible liabilities 476,186 377,132 Accumulated amortization Below-market lease amortization (145,754) (88,489) Total accumulated amortization (145,754) (88,489) Intangible liabilities, net $ 330,432 $ 288,643 |
Estimated Future Amortization | The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of December 31, 2022 is as follows ($ in thousands): In-place Lease Above-market Other Intangibles Below-market 2023 $ 383,807 $ 9,546 $ 46,611 $ (70,309) 2024 171,875 7,987 35,990 (58,768) 2025 128,976 6,410 33,392 (48,406) 2026 99,310 5,106 32,166 (38,275) 2027 70,748 3,551 29,970 (26,776) Thereafter 195,383 7,933 162,269 (87,898) $ 1,050,099 $ 40,533 $ 340,398 $ (330,432) |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Outstanding Derivatives | The following tables detail the Company’s outstanding interest rate derivatives (notional amount in thousands): December 31, 2022 Interest Rate Derivatives Number of Instruments Notional Amount Weighted Average Strike Index Weighted Average Maturity (Years) Derivatives designated as hedging instruments Interest rate swaps - property debt 20 $ 7,417,852 2.6% LIBOR, SOFR 6.1 Derivatives not designated as hedging instruments Interest rate caps - property debt 135 $ 14,147,947 4.1% LIBOR, SOFR 0.8 Interest rate swaps - property debt 50 25,015,600 2.0% LIBOR, SOFR, EURIBOR 7.3 Interest rate swaps - investments in real estate debt 61 1,392,960 1.4% LIBOR, SOFR 4.1 Total $ 40,556,507 December 31, 2021 Interest Rate Derivatives Number of Instruments Notional Amount Weighted Average Strike Index Weighted Average Maturity (Years) Derivatives not designated as hedging instruments Interest rate swaps - property debt 22 $ 9,500,000 1.3% LIBOR 7.0 Interest rate swaps - investments in real estate debt 54 1,076,210 1.0% LIBOR 4.8 Total $ 10,576,210 The following table details the Company’s outstanding foreign currency forward contracts that were non-designated hedges of foreign currency risk (notional amount in thousands): December 31, 2022 December 31, 2021 Foreign Currency Forward Contracts Number of Instruments Notional Amount Number of Instruments Notional Amount Buy USD / Sell EUR Forward 14 € 160,206 10 € 552,513 Buy USD / Sell GBP Forward 12 £ 132,563 7 £ 267,368 Buy EUR / Sell USD Forward — € — 1 € 5,978 Buy GBP / Sell USD Forward — £ — 3 £ 15,396 |
Schedule of Fair Value of Derivative Financial Instruments | The following table details the fair value of the Company’s derivative financial instruments ($ in thousands): Fair Value of Derivatives in an Asset (1) Position Fair Value of Derivatives in a Liability (2) Position December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Derivatives designated as hedging instruments Interest rate swaps - property debt $ 409,260 $ — $ — $ — Total derivatives designated as hedging instruments 409,260 — — — Derivatives not designated as hedging instruments Interest rate caps - property debt (3) 183,392 — 36,173 — Interest rate swaps - property debt 2,310,511 22,089 — 29,796 Interest rate swaps - investments in real estate debt 130,181 19,034 — 8,266 Foreign currency forward contracts 251 330 14,384 7,535 Total derivatives not designated as hedging instruments 2,624,335 41,453 50,557 45,597 Total interest rate and foreign currency hedging derivatives $ 3,033,595 $ 41,453 $ 50,557 $ 45,597 (1) Included in Other Assets in the Company’s Consolidated Balance Sheets. (2) Included in Other Liabilities in the Company’s Consolidated Balance Sheets. (3) Includes interest rate caps with fair value of $237.7 million and $0.0 million presented on a net basis as of December 31, 2022 and December 31, 2021, respectively. |
Schedule of Effect of Derivative Financial Instruments on Condensed Consolidated Statements of Operations | The following table details the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income (Loss) ($ in thousands): Type of Derivative Realized/Unrealized Gain (Loss) Location of Gain (Loss) Recognized Year Ended December 31, 2022 2021 2020 Included in Net Income (Loss) Interest rate swap – property debt Unrealized gain (loss) (1) $ 2,262,337 $ (7,711) $ — Interest rate caps – property debt Unrealized gain (1) 180,988 — — Interest rate swap – investments in real estate debt Realized gain (loss) (2) 21,728 (11,335) (6,722) Interest rate swap – investments in real estate debt Unrealized gain (loss) (2) 119,407 57,470 (43,029) Foreign currency forward contract Realized gain (loss) (2) 85,889 27,606 (14,703) Foreign currency forward contract Unrealized (loss) gain (2) (6,865) 8,145 (9,139) Total $ 2,663,484 $ 74,175 $ (73,593) Included in Other Comprehensive Income Interest rate swap – property debt (3) Unrealized gain 408,069 — — Total $ 3,071,553 $ 74,175 $ (73,593) (1) Included in Income from Equity Securities and Interest Rate Derivatives in the Company's Consolidated Statements of Operations. (2) Included in Income (Loss) from Investments in Real Estate Debt in the Company’s Consolidated Statements of Operations. (3) During the year ended December 31, 2022, $79.4 million of net gain was reclassified from accumulated other comprehensive income into net income. |
Equity and Redeemable Non-con_2
Equity and Redeemable Non-controlling Interest (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
Schedule of Company's Authorized Capital | As of December 31, 2022, the Company had the authority to issue 10,600,000,000 shares, consisting of the following: Number of Shares Par Value Per Share Preferred Stock 100,000 $ 0.01 Class S Shares 3,000,000 $ 0.01 Class I Shares 6,000,000 $ 0.01 Class T Shares 500,000 $ 0.01 Class D Shares 500,000 $ 0.01 Class C Shares 500,000 $ 0.01 Total 10,600,000 |
Schedule of Company's Outstanding Shares of Common Stock | The following table details the movement in the Company’s outstanding shares of common stock (in thousands): Class S Class I Class T Class D Total January 1, 2020 530,813 474,279 39,767 84,657 1,129,516 Common stock issued 196,343 510,136 8,497 43,325 758,301 Distribution reinvestment 20,860 19,363 1,330 3,299 44,852 Common stock repurchased (45,163) (76,735) (3,651) (7,140) (132,689) Independent directors' restricted stock grant (1) — 37 — — 37 December 31, 2020 702,853 927,080 45,943 124,141 1,800,017 Common stock issued 543,534 1,221,551 11,392 164,263 1,940,740 Distribution reinvestment 25,157 30,601 1,360 5,111 62,229 Common stock repurchased (17,196) (92,662) (1,408) (2,428) (113,694) Independent directors' restricted stock grant (1) — 61 — — 61 December 31, 2021 1,254,348 2,086,631 57,287 291,087 3,689,353 Common stock issued 389,405 854,023 16,849 145,677 1,405,954 Distribution reinvestment 31,957 51,138 1,646 8,656 93,397 Common stock repurchased (78,296) (597,103) (3,183) (23,992) (702,574) Independent directors' restricted stock grant (1) — 48 — — 48 December 31, 2022 1,597,414 2,394,737 72,599 421,428 4,486,178 (1) The independent directors’ restricted stock represents $0.7 million, $0.7 million and $0.4 million of the annual compensation paid to each of the independent directors for the years ended December 31, 2022, 2021 and 2020, respectively. The cost of each grant is amortized over the one-year service period for each grant. |
Schedule of Aggregate Distributions Declared for Applicable Class of Common Stock | The following table details the aggregate distributions declared for each applicable class of common stock: Year Ended December 31, 2022 Class S Class I Class T Class D Aggregate gross distributions declared per share of common stock $ 0.6685 $ 0.6685 $ 0.6685 $ 0.6685 Stockholder servicing fee per share of common stock (0.1273) — (0.1254) (0.0366) Net distributions declared per share of common stock $ 0.5412 $ 0.6685 $ 0.5431 $ 0.6319 Year Ended December 31, 2021 Class S Class I Class T Class D Aggregate gross distributions declared per share of common stock $ 0.6508 $ 0.6508 $ 0.6508 $ 0.6508 Stockholder servicing fee per share of common stock (0.1096) — (0.1081) (0.0317) Net distributions declared per share of common stock $ 0.5412 $ 0.6508 $ 0.5427 $ 0.6191 Year Ended December 31, 2020 Class S Class I Class T Class D Aggregate gross distributions declared per share of common stock $ 0.6354 $ 0.6354 $ 0.6354 $ 0.6354 Stockholder servicing fee per share of common stock (0.0942) — (0.0929) (0.0274) Net distributions declared per share of common stock $ 0.5412 $ 0.6354 $ 0.5425 $ 0.6080 |
Summary of Redeemable Non-controlling Interest Activity Related to Special Limited Partner | The following table details the redeemable non-controlling interest activity related to the Special Limited Partner for the year ended December 31, 2022 and 2021 ($ in thousands): Year Ended December 31, 2022 2021 Balance at the beginning of the year $ 589,900 $ 274 Settlement of current year performance participation allocation 817,527 1,378,959 Settlement of prior year performance participation allocation — 192,648 Repurchases (26,639) (111,949) Conversion to Class I and Class B units (435,238) (68,453) Conversion to Class I shares (599,219) (801,645) GAAP income allocation (5,024) (6) Distributions (10,256) (15) Fair value allocation 13,094 87 Balance at the end of the year $ 344,145 $ 589,900 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Schedule of Components of Operating Lease Income from Leases | The following table details the components of operating lease income from leases in which the Company is the lessor ($ in thousands): Year Ended December 31, 2022 2021 2020 Fixed lease payments $ 6,152,782 $ 2,860,344 $ 2,031,411 Variable lease payments 411,337 280,184 204,461 Rental revenue $ 6,564,119 $ 3,140,528 $ 2,235,872 Year Ended December 31, 2022 2021 2020 Interest on lease liabilities $ 4,038 $ 3,403 $ 2,991 Amortization of right-of-use assets 1,278 1,139 991 Total financing lease costs $ 5,316 $ 4,542 $ 3,982 |
Schedule of Undiscounted Future Minimum Rental Income | The following table presents the undiscounted future minimum rents the Company expects to receive for its industrial, net lease, data centers, retail, and office properties as of December 31, 2022 ($ in thousands). Leases at the Company’s rental housing and self storage properties are short term, generally 12 months or less, and are therefore not included. Year Future Minimum Rents 2023 $ 1,686,971 2024 1,597,245 2025 1,469,306 2026 1,338,977 2027 1,154,429 Thereafter 16,624,401 Total $ 23,871,329 |
Schedule of Future Lease Payments Due Under Ground Leases | The following table details the future lease payments due under the Company’s ground leases as of December 31, 2022 ($ in thousands): Operating Financing 2023 $ 36,311 $ 4,150 2024 37,070 4,266 2025 37,687 4,385 2026 37,851 4,507 2027 38,250 4,633 Thereafter 2,613,738 564,142 Total undiscounted future lease payments 2,800,907 586,083 Difference between undiscounted cash flows and discounted cash flows (2,162,077) (509,075) Total lease liability $ 638,830 $ 77,008 |
Summary of Fixed and Variable Components of Operating and Financing Leases | The following table details the fixed and variable components of the Company’s operating leases ($ in thousands): Year Ended December 31, 2022 2021 2020 Fixed ground rent expense $ 22,789 $ 4,904 $ 4,038 Variable ground rent expense 1,042 36 18 Total cash portion of ground rent expense 23,831 4,940 4,056 Straight-line ground rent expense 13,552 7,488 6,737 Total operating lease costs $ 37,383 $ 12,428 $ 10,793 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
Summary of Total Assets and Financial Results by Segment | The following table details the total assets by segment ($ in thousands): December 31, 2022 December 31, 2021 Rental Housing $ 68,464,413 $ 44,167,486 Industrial 21,624,736 20,898,801 Net Lease 9,011,326 5,219,519 Hospitality 3,768,473 3,084,271 Office 3,293,163 1,232,392 Data Centers 3,203,585 1,905,660 Retail 2,722,839 1,689,575 Self Storage 2,247,351 1,886,376 Investments in Real Estate Debt and Real Estate Loans Held by Consolidated Securitization Vehicles, at Fair Value 25,363,546 24,221,005 Other (Corporate) 2,987,992 2,033,779 Total assets $ 142,687,424 $ 106,338,864 The following table details the financial results by segment for the year ended December 31, 2022 ($ in thousands): Rental Housing Industrial Net Hospitality Office Data Centers Retail Self Investments in Total Revenues: Rental revenue $ 4,116,088 $ 1,364,640 $ 499,789 $ — $ 138,241 $ 44,673 $ 187,055 $ 213,633 $ — $ 6,564,119 Hospitality revenue — — — 721,654 — — — — — 721,654 Other revenue 286,819 34,985 — 12,930 8,112 — 3,272 14,487 — 360,605 Total revenues 4,402,907 1,399,625 499,789 734,584 146,353 44,673 190,327 228,120 — 7,646,378 Expenses: Rental property operating 2,253,142 438,479 1,883 — 40,234 6,943 69,614 106,641 — 2,916,936 Hospitality operating — — — 508,868 — — — — — 508,868 Total expenses 2,253,142 438,479 1,883 508,868 40,234 6,943 69,614 106,641 — 3,425,804 (Loss) income from unconsolidated entities (79,148) 319,807 99,879 6,303 4,493 (168,078) (1,007) — — 182,249 Loss from investments in real estate debt — — — — — — — — (27,073) (27,073) Change in net assets of consolidated securitization vehicles — — — — — — — — (42,119) (42,119) (Loss) Income from investments in equity securities (1) (346,773) (47,969) 27,334 $ — (109,129) — — — — (476,537) Segment net operating income (loss) $ 1,723,844 $ 1,232,984 $ 625,119 $ 232,019 $ 1,483 $ (130,348) $ 119,706 $ 121,479 $ (69,192) $ 3,857,094 Depreciation and amortization $ (2,617,389) $ (804,108) $ (172,647) $ (120,531) $ (70,721) $ (19,639) $ (168,024) $ (125,307) $ — $ (4,098,366) General and administrative (52,652) Management fee (837,687) Performance participation allocation (742,670) Impairment of investments in real estate (33,554) Income from interest rate derivatives (1) 2,444,086 Net gain on dispositions of real estate 808,846 Interest expense (2,325,204) Loss on extinguishment of debt (11,476) Other expense (88,725) Net loss $ (1,080,308) Net loss attributable to non-controlling interests in third party joint ventures $ 173,109 Net loss attributable to non-controlling interests in BREIT OP 23,680 Net loss attributable to BREIT stockholders $ (883,519) (1) Included within income from equity securities and interest rate derivatives on the Consolidated Statements of Operations is $520.8 million net unrealized/realized loss related to such equity securities. The following table details the financial results by segment for the year ended December 31, 2021 ($ in thousands): Rental Housing Industrial Net Hospitality Office Data Centers Retail Self Investments in Total Revenues: Rental revenue $ 1,544,909 $ 982,137 $ 331,178 $ — $ 46,570 $ 28,586 $ 64,079 $ 143,069 $ — $ 3,140,528 Hospitality revenue — — — 412,338 — — — — — 412,338 Other revenue 109,211 12,413 — 10,287 344 — 2,157 9,393 — 143,805 Total revenues 1,654,120 994,550 331,178 422,625 46,914 28,586 66,236 152,462 — 3,696,671 Expenses: Rental property operating 780,321 306,016 1,331 — 12,557 4,080 20,712 67,554 — 1,192,571 Hospitality operating — — — 316,144 — — — — — 316,144 Total expenses 780,321 306,016 1,331 316,144 12,557 4,080 20,712 67,554 — 1,508,715 (Loss) Income from unconsolidated entities (17,461) 194,743 100,276 — — (71,745) 167 — — 205,980 Income from investments in real estate debt — — — — — — — — 391,867 391,867 Change in net assets of consolidated securitization vehicles — — — — — — — — 106,240 106,240 Income from investments in equity securities (1) 640,731 174,866 56,765 — 11,897 — — — — 884,259 Segment net operating income $ 1,497,069 $ 1,058,143 $ 486,888 $ 106,481 $ 46,254 $ (47,239) $ 45,691 $ 84,908 $ 498,107 $ 3,776,302 Depreciation and amortization $ (933,418) $ (576,793) $ (114,409) $ (93,911) $ (22,127) $ (12,485) $ (28,917) $ (137,872) $ — $ (1,919,932) General and administrative (32,046) Management fee (445,291) Performance participation allocation (1,378,959) Income from interest rate derivatives (1) 10,285 Net gain on dispositions of real estate 7,881 Interest expense (834,852) Loss on extinguishment of debt (16,331) Other expense (3,221) Net loss $ (836,164) Net loss attributable to non-controlling interests in third party joint ventures $ 22,090 Net loss attributable to non-controlling interests in BREIT OP 9,291 Net loss attributable to BREIT stockholders $ (804,783) (1) Included within income from equity securities and interest rate derivatives on the Consolidated Statements of Operations is $848.2 million unrealized gain related to such equity securities. The following table details the financial results by segment for the year ended December 31, 2020 ($ in thousands): Rental Housing Industrial Net Hospitality Office Data Centers Retail Self Investments in Total Revenues: Rental revenue $ 976,873 $ 811,490 $ 331,178 $ — $ 16,368 $ 23,042 $ 54,047 $ 22,874 $ — $ 2,235,872 Hospitality revenue — — — 248,909 — — — — — 248,909 Other revenue 50,256 5,438 — 6,397 502 — 1,198 3,076 — 66,867 Total revenues 1,027,129 816,928 331,178 255,306 16,870 23,042 55,245 25,950 — 2,551,648 Expenses: Rental property operating 471,413 240,792 701 — 5,540 3,039 17,541 12,753 — 751,779 Hospitality operating — — — 261,472 — — — — — 261,472 Total expenses 471,413 240,792 701 261,472 5,540 3,039 17,541 12,753 — 1,013,251 Income from unconsolidated entities — — 88,571 — — — — — — 88,571 Loss from investments in real estate debt — — — — — — — — (74,353) (74,353) Change in net assets of consolidated securitization vehicles — — — — — — — — (46,564) (46,564) Income from investments in equity securities (1) 37,679 14,005 12,578 — 2,194 — — — — 66,456 Segment net operating income $ 593,395 $ 590,141 $ 431,626 $ (6,166) $ 13,524 $ 20,003 $ 37,704 $ 13,197 $ (120,917) $ 1,572,507 Depreciation and amortization $ (544,927) $ (540,023) $ (114,530) $ (90,820) $ (9,741) $ (10,098) $ (32,528) $ (19,484) $ — $ (1,362,151) General and administrative (25,653) Management fee (224,776) Performance participation allocation (192,648) Loss from interest rate derivatives (1) (548) Impairment of investments in real estate (12,343) Net gain on dispositions of real estate 113,173 Interest expense (712,383) Loss on extinguishment of debt (10,356) Other expense (12,224) Net loss $ (867,402) Net loss attributable to non-controlling interests in third party joint ventures $ 2,417 Net loss attributable to non-controlling interests in BREIT OP 11,586 Net loss attributable to BREIT stockholders $ (853,399) (1) Included within income from equity securities and interest rate derivatives on the Consolidated Statements of Operations is $43.7 million net unrealized/realized gain related to such equity securities. |
Organization and Business Pur_2
Organization and Business Purpose - Additional Information (Details) $ in Billions | 12 Months Ended |
Dec. 31, 2022 USD ($) segment property class rentalHome | |
Organization and business activities. | |
Aggregate net proceeds from issuance of common stock | $ 66.4 |
Number of classes of shares | class | 4 |
Number of owned properties | property | 5,172 |
Number of reportable segments | segment | 9 |
Single Family | |
Organization and business activities. | |
Number of rentable homes owned | rentalHome | 28,776 |
Follow On Offering | Maximum | |
Organization and business activities. | |
Common stock, shares authorized, amount | $ 60 |
IPO | Maximum | |
Organization and business activities. | |
Common stock, shares authorized, amount | 48 |
Distribution Reinvestment Plan | Maximum | |
Organization and business activities. | |
Common stock, shares authorized, amount | $ 12 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) property | Dec. 31, 2017 USD ($) | |
Significant Of Accounting Policies [Line Items] | ||||
Interest expense | $ (2,325,204) | $ (834,852) | $ (712,383) | |
Income from equity securities and interest rate derivatives | 1,967,549 | 894,544 | 65,908 | |
Other expense | 88,725 | 3,221 | 12,224 | |
Total assets | 142,687,424 | 106,338,864 | ||
Total liabilities | 91,933,250 | 66,558,268 | ||
Impairment of investments in real estate | 0 | 0 | 12,300 | |
Restricted cash | 200,000 | 1,700,000 | ||
Income tax expense (benefit) | 13,100 | 300 | (2,500) | |
Deferred tax benefit | 6,000 | 1,800 | 5,800 | |
Current income tax expense | 19,100 | 2,100 | 3,300 | |
Deferred tax assets | 17,600 | 12,300 | ||
Equity securities | 530,119 | 3,225,660 | ||
Real estate, held-for-sale | $ 178,400 | |||
Revision of Prior Period, Reclassification, Adjustment | Reclassification from Interest Expense | ||||
Significant Of Accounting Policies [Line Items] | ||||
Interest expense | 400 | 500 | ||
Income from equity securities and interest rate derivatives | 400 | 500 | ||
Revision of Prior Period, Reclassification, Adjustment | Reclassification from Other Income (Expense) | ||||
Significant Of Accounting Policies [Line Items] | ||||
Income from equity securities and interest rate derivatives | 895,000 | 66,500 | ||
Other expense | 895,000 | $ 66,500 | ||
Hotel | ||||
Significant Of Accounting Policies [Line Items] | ||||
Number of impaired properties | property | 2 | |||
Class S | ||||
Significant Of Accounting Policies [Line Items] | ||||
Stockholder servicing fee (% of NAV) | 0.85% | |||
Selling commissions and dealer manager fees (% of transaction price) | 3.50% | |||
Class T | ||||
Significant Of Accounting Policies [Line Items] | ||||
Stockholder servicing fee (% of NAV) | 0.85% | |||
Selling commissions and dealer manager fees (% of transaction price) | 3.50% | |||
Upfront selling commissions and dealer manager fees on transaction price | 3% | |||
Selling commissions and upfront dealer manager fees on transaction price | 0.50% | |||
Percentage of advisor stockholder servicing fee on NAV per annum | 0.65% | |||
Percentage of dealer stockholder servicing fee on NAV per annum | 0.20% | |||
Class D | ||||
Significant Of Accounting Policies [Line Items] | ||||
Stockholder servicing fee (% of NAV) | 0.25% | |||
Selling commissions and dealer manager fees (% of transaction price) | 1.50% | |||
Common Class S, Common Class D, And Common Class T | ||||
Significant Of Accounting Policies [Line Items] | ||||
Accrued stockholder servicing fees | $ 1,600,000 | 1,200,000 | ||
Adviser | ||||
Significant Of Accounting Policies [Line Items] | ||||
Organization and offering costs incurred | $ 10,200 | |||
Period for reimbursement of advance expenses | 60 months | |||
Reimbursement of organization and offering costs | $ 2,000 | 2,000 | ||
Blackstone Advisory Partners L.P. | ||||
Significant Of Accounting Policies [Line Items] | ||||
Commission and fees, threshold percentage on gross proceeds from sale of share | 8.75% | |||
Blackstone Advisory Partners L.P. | Class S | ||||
Significant Of Accounting Policies [Line Items] | ||||
Stockholder servicing fee (% of NAV) | 0.85% | |||
Blackstone Advisory Partners L.P. | Class T | ||||
Significant Of Accounting Policies [Line Items] | ||||
Stockholder servicing fee (% of NAV) | 0.85% | |||
Blackstone Advisory Partners L.P. | Class D | ||||
Significant Of Accounting Policies [Line Items] | ||||
Stockholder servicing fee (% of NAV) | 0.25% | |||
Minimum | ||||
Significant Of Accounting Policies [Line Items] | ||||
Award requisite service period (in years) | 3 years | |||
Maximum | ||||
Significant Of Accounting Policies [Line Items] | ||||
Award requisite service period (in years) | 4 years | |||
Level 3 | ||||
Significant Of Accounting Policies [Line Items] | ||||
Mortgage notes, term loans, and secured revolving credit facilities, secured financings on investments in real estate debt, and unsecured revolving credit facilities | $ 1,400,000 | 108,600 | ||
VIEs | ||||
Significant Of Accounting Policies [Line Items] | ||||
Total assets | 52,100,000 | 45,800,000 | ||
Total liabilities | $ 37,800,000 | $ 32,700,000 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Adjustments to the Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||||
Investments in real estate debt | $ 8,001,703 | $ 6,970,606 | ||
Real estate loans held by consolidated securitization vehicles, at fair value | 17,030,387 | 17,055,986 | ||
Total assets | 142,687,424 | 106,338,864 | ||
Liabilities and Equity | ||||
Senior obligations of consolidated securitization vehicles, at fair value | 15,288,598 | 15,030,653 | ||
Total liabilities | 91,933,250 | 66,558,268 | ||
Equity | ||||
Total equity | $ 50,200,751 | 39,029,926 | $ 16,183,951 | $ 10,614,648 |
As Reported | ||||
Assets | ||||
Investments in real estate debt | 8,995,939 | |||
Real estate loans held by consolidated securitization vehicles, at fair value | 0 | |||
Total assets | 91,308,211 | |||
Liabilities and Equity | ||||
Senior obligations of consolidated securitization vehicles, at fair value | 0 | |||
Total liabilities | 51,527,615 | |||
Equity | ||||
Total equity | 39,029,926 | |||
Adjustment | ||||
Assets | ||||
Investments in real estate debt | (2,025,333) | |||
Real estate loans held by consolidated securitization vehicles, at fair value | 17,055,986 | |||
Total assets | 15,030,653 | |||
Liabilities and Equity | ||||
Senior obligations of consolidated securitization vehicles, at fair value | 15,030,653 | |||
Total liabilities | 15,030,653 | |||
Equity | ||||
Total equity | $ 0 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Adjustments to the Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other income (expense) | |||
Income from investments in real estate debt | $ (27,073) | $ 391,867 | $ (74,353) |
Change in net assets of consolidated securitization vehicles | (42,119) | 106,240 | (46,564) |
Total other income (expense) | 464,047 | 752,108 | (588,228) |
Net loss | $ (1,080,308) | (836,164) | (867,402) |
As Reported | |||
Other income (expense) | |||
Income from investments in real estate debt | 498,107 | (120,917) | |
Change in net assets of consolidated securitization vehicles | 0 | 0 | |
Total other income (expense) | 752,108 | (588,228) | |
Net loss | (836,164) | (867,402) | |
Adjustment | |||
Other income (expense) | |||
Income from investments in real estate debt | (106,240) | 46,564 | |
Change in net assets of consolidated securitization vehicles | 106,240 | (46,564) | |
Total other income (expense) | 0 | 0 | |
Net loss | $ 0 | $ 0 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Adjustments to the Condensed Consolidated Statement of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from investing activities: | |||
Purchase of investments in real estate debt | $ (4,488,157) | $ (5,824,137) | $ (1,232,955) |
Proceeds from sale/repayment of investments in real estate debt | 2,487,955 | 1,509,472 | 983,229 |
Proceeds from paydowns of real estate loans held by consolidated securitization vehicles | 1,870,183 | 9,681 | 4,283 |
Net cash used in investing activities | (30,850,066) | (40,639,158) | (8,044,548) |
Cash flows from financing activities: | |||
Borrowings of senior obligations of consolidated securitization vehicles | 101,954 | 132,916 | 10,000 |
Repayments of senior obligations of consolidated securitization vehicles | (1,653,304) | (65,852) | (4,283) |
Net cash provided by financing activities | 26,973,179 | 41,228,986 | 7,007,465 |
Non-cash investing and financing activities: | |||
Consolidation of securitization vehicles | 2,348,079 | 10,744,399 | 0 |
Deconsolidation of securitization vehicles | $ 0 | (758,500) | 0 |
As Reported | |||
Cash flows from investing activities: | |||
Purchase of investments in real estate debt | (5,880,308) | ||
Proceeds from sale/repayment of investments in real estate debt | 1,642,388 | 993,229 | |
Proceeds from paydowns of real estate loans held by consolidated securitization vehicles | 0 | 0 | |
Net cash used in investing activities | (40,572,094) | (8,038,831) | |
Cash flows from financing activities: | |||
Borrowings of senior obligations of consolidated securitization vehicles | 0 | 0 | |
Repayments of senior obligations of consolidated securitization vehicles | 0 | 0 | |
Net cash provided by financing activities | 41,161,922 | 7,001,748 | |
Non-cash investing and financing activities: | |||
Consolidation of securitization vehicles | 0 | ||
Deconsolidation of securitization vehicles | 0 | ||
Adjustment | |||
Cash flows from investing activities: | |||
Purchase of investments in real estate debt | 56,171 | ||
Proceeds from sale/repayment of investments in real estate debt | (132,916) | (10,000) | |
Proceeds from paydowns of real estate loans held by consolidated securitization vehicles | 9,681 | 4,283 | |
Net cash used in investing activities | (67,064) | (5,717) | |
Cash flows from financing activities: | |||
Borrowings of senior obligations of consolidated securitization vehicles | 132,916 | 10,000 | |
Repayments of senior obligations of consolidated securitization vehicles | (65,852) | (4,283) | |
Net cash provided by financing activities | 67,064 | $ 5,717 | |
Non-cash investing and financing activities: | |||
Consolidation of securitization vehicles | 10,744,399 | ||
Deconsolidation of securitization vehicles | $ (758,500) |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Investment in Real Estate (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Building | Minimum | |
Property, Plant and Equipment [Line Items] | |
Useful life | 30 years |
Building | Maximum | |
Property, Plant and Equipment [Line Items] | |
Useful life | 42 years |
Building- and land improvements | |
Property, Plant and Equipment [Line Items] | |
Useful life | 10 years |
Furniture, fixtures and equipment | Minimum | |
Property, Plant and Equipment [Line Items] | |
Useful life | 1 year |
Furniture, fixtures and equipment | Maximum | |
Property, Plant and Equipment [Line Items] | |
Useful life | 10 years |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Summary of Selling Commissions, Dealer Manager Fees, and Stockholder Servicing Fees (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Class S | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 3.50% |
Stockholder servicing fee (% of NAV) | 0.85% |
Class I | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 0% |
Stockholder servicing fee (% of NAV) | 0% |
Class T | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 3.50% |
Stockholder servicing fee (% of NAV) | 0.85% |
Class D | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 1.50% |
Stockholder servicing fee (% of NAV) | 0.25% |
Class C Shares | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 0% |
Stockholder servicing fee (% of NAV) | 0% |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Assets: | ||
Real estate loans held by consolidated securitization vehicles, at fair value | $ 17,030,387 | $ 17,055,986 |
Equity securities | 530,119 | 3,225,660 |
Investments in unconsolidated entities | 4,947,251 | 1,613,646 |
Interest rate and foreign currency hedging derivatives | 3,033,595 | 41,453 |
Liabilities: | ||
Senior obligations of consolidated securitization vehicles, at fair value | 15,288,598 | 15,030,653 |
Interest rate and foreign currency hedging derivatives | 50,557 | 45,597 |
Recurring | ||
Assets: | ||
Investments in real estate debt | 8,001,703 | 6,970,606 |
Real estate loans held by consolidated securitization vehicles, at fair value | 17,030,387 | 17,055,986 |
Equity securities | 530,119 | 3,225,660 |
Investments in unconsolidated entities | 4,947,251 | 1,613,646 |
Interest rate and foreign currency hedging derivatives | 3,033,595 | 41,453 |
Total | 33,543,055 | 28,907,351 |
Liabilities: | ||
Senior obligations of consolidated securitization vehicles, at fair value | 15,288,598 | 15,030,653 |
Interest rate and foreign currency hedging derivatives | 50,557 | 45,597 |
Total | 15,339,155 | 15,076,250 |
Recurring | Level 1 | ||
Assets: | ||
Investments in real estate debt | 0 | 0 |
Real estate loans held by consolidated securitization vehicles, at fair value | 0 | 0 |
Equity securities | 52,512 | 2,558,952 |
Investments in unconsolidated entities | 0 | 0 |
Interest rate and foreign currency hedging derivatives | 0 | 0 |
Total | 52,512 | 2,558,952 |
Liabilities: | ||
Senior obligations of consolidated securitization vehicles, at fair value | 0 | 0 |
Interest rate and foreign currency hedging derivatives | 0 | 0 |
Total | 0 | 0 |
Recurring | Level 2 | ||
Assets: | ||
Investments in real estate debt | 6,460,520 | 5,730,269 |
Real estate loans held by consolidated securitization vehicles, at fair value | 17,030,387 | 16,590,050 |
Equity securities | 253,199 | 442,300 |
Investments in unconsolidated entities | 0 | 0 |
Interest rate and foreign currency hedging derivatives | 3,033,595 | 41,453 |
Total | 26,777,701 | 22,804,072 |
Liabilities: | ||
Senior obligations of consolidated securitization vehicles, at fair value | 15,288,598 | 14,545,992 |
Interest rate and foreign currency hedging derivatives | 50,557 | 45,597 |
Total | 15,339,155 | 14,591,589 |
Recurring | Level 3 | ||
Assets: | ||
Investments in real estate debt | 1,541,183 | 1,240,337 |
Real estate loans held by consolidated securitization vehicles, at fair value | 0 | 465,936 |
Equity securities | 224,408 | 224,408 |
Investments in unconsolidated entities | 4,947,251 | 1,613,646 |
Interest rate and foreign currency hedging derivatives | 0 | 0 |
Total | 6,712,842 | 3,544,327 |
Liabilities: | ||
Senior obligations of consolidated securitization vehicles, at fair value | 0 | 484,661 |
Interest rate and foreign currency hedging derivatives | 0 | 0 |
Total | $ 0 | $ 484,661 |
Summary of Significant Accou_11
Summary of Significant Accounting Policies - Summary of Assets Measured at Fair Value on Recurring Basis Using Level 3 (Details) - Recurring - Level 3 $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Alternate Investment [Roll Forward] | |
Beginning balance | $ 3,544,327 |
Purchases | 4,308,157 |
Sales and repayments | (914,138) |
Distributions received | (60,978) |
Income from unconsolidated entities measured at fair value | 324,432 |
Realized loss included in income (loss) from investments in real estate debt | (64,526) |
Unrealized gain included in income (loss) from investments in real estate debt | 41,504 |
Transfers out of Level 3 | (465,936) |
Ending balance | 6,712,842 |
Investments in Real Estate Debt | |
Alternate Investment [Roll Forward] | |
Beginning balance | 1,240,337 |
Purchases | 1,238,006 |
Sales and repayments | (914,138) |
Distributions received | 0 |
Income from unconsolidated entities measured at fair value | 0 |
Realized loss included in income (loss) from investments in real estate debt | (64,526) |
Unrealized gain included in income (loss) from investments in real estate debt | 41,504 |
Transfers out of Level 3 | 0 |
Ending balance | 1,541,183 |
Equity Securities | |
Alternate Investment [Roll Forward] | |
Beginning balance | 224,408 |
Purchases | 0 |
Sales and repayments | 0 |
Distributions received | 0 |
Income from unconsolidated entities measured at fair value | 0 |
Realized loss included in income (loss) from investments in real estate debt | 0 |
Unrealized gain included in income (loss) from investments in real estate debt | 0 |
Transfers out of Level 3 | 0 |
Ending balance | 224,408 |
Investments in Unconsolidated Entities | |
Alternate Investment [Roll Forward] | |
Beginning balance | 1,613,646 |
Purchases | 3,070,151 |
Sales and repayments | 0 |
Distributions received | (60,978) |
Income from unconsolidated entities measured at fair value | 324,432 |
Realized loss included in income (loss) from investments in real estate debt | 0 |
Unrealized gain included in income (loss) from investments in real estate debt | 0 |
Transfers out of Level 3 | 0 |
Ending balance | 4,947,251 |
Real estate loans held by consolidated securitization vehicles, at fair value | |
Alternate Investment [Roll Forward] | |
Beginning balance | 465,936 |
Purchases | 0 |
Sales and repayments | 0 |
Distributions received | 0 |
Income from unconsolidated entities measured at fair value | 0 |
Realized loss included in income (loss) from investments in real estate debt | 0 |
Unrealized gain included in income (loss) from investments in real estate debt | 0 |
Transfers out of Level 3 | (465,936) |
Ending balance | 0 |
Senior obligation of consolidated securitization vehicles, at fair value | |
Alternate Investment [Roll Forward] | |
Beginning balance | 484,661 |
Purchases | 0 |
Sales and repayments | 0 |
Distributions received | 0 |
Income from unconsolidated entities measured at fair value | 0 |
Realized loss included in income (loss) from investments in real estate debt | 0 |
Unrealized gain included in income (loss) from investments in real estate debt | 0 |
Transfers out of Level 3 | (484,661) |
Ending balance | $ 0 |
Summary of Significant Accou_12
Summary of Significant Accounting Policies - Summary of Quantitative Inputs and Assumptions Used for Items Categorized in Level 3 of Fair Value Hierarchy (Details) $ in Thousands | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real estate loans held by consolidated securitization vehicles, at fair value | $ 17,030,387 | $ 17,055,986 |
Senior obligations of consolidated securitization vehicles, at fair value | 15,288,598 | 15,030,653 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real estate loans held by consolidated securitization vehicles, at fair value | 17,030,387 | 17,055,986 |
Senior obligations of consolidated securitization vehicles, at fair value | 15,288,598 | 15,030,653 |
Level 3 | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 6,712,842 | 3,544,327 |
Real estate loans held by consolidated securitization vehicles, at fair value | 0 | 465,936 |
Senior obligations of consolidated securitization vehicles, at fair value | 0 | 484,661 |
Level 3 | Third Party Price | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real estate loans held by consolidated securitization vehicles, at fair value | 465,936 | |
Senior obligations of consolidated securitization vehicles, at fair value | 484,661 | |
Level 3 | Investments in Real Estate Debt | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 1,541,183 | $ 1,240,337 |
Level 3 | Investments in Real Estate Debt | Discounted cash flow | Market Yield | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average Rate | 0.096 | 0.052 |
Level 3 | Investments in Real Estate Debt | Discounted cash flow | Market Yield | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 1,240,337 | |
Level 3 | Equity Securities | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 224,408 | $ 224,408 |
Level 3 | Equity Securities | Market comparable | Stabilized EBITDA Multiple | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average Rate | 18.5 | 21.1 |
Level 3 | Equity Securities | Market comparable | Stabilized EBITDA Multiple | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 224,408 | |
Level 3 | Investments in Unconsolidated Entities | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 4,947,251 | $ 1,613,646 |
Level 3 | Investments in Unconsolidated Entities | Discounted cash flow | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 4,399,935 | |
Level 3 | Investments in Unconsolidated Entities | Discounted cash flow | Discount Rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average Rate | 0.068 | 0.059 |
Level 3 | Investments in Unconsolidated Entities | Discounted cash flow | Discount Rate | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 1,613,646 | |
Level 3 | Investments in Unconsolidated Entities | Discounted cash flow | Exit Capitalization Rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average Rate | 0.049 | 0.046 |
Level 3 | Investments in Unconsolidated Entities | Discounted cash flow | Weighted Average Cost of Capital | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average Rate | 0.065 | 0.091 |
Level 3 | Investments in Unconsolidated Entities | Market comparable | LTM EBITDA Multiple | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted Average Rate | 10.8 | |
Level 3 | Investments in Unconsolidated Entities | Market comparable | LTM EBITDA Multiple | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 547,316 |
Summary of Significant Accou_13
Summary of Significant Accounting Policies - Summary of Incentive Compensation Awards Issued to Simply Self Storage and HPA Employees (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | $ 38,721 |
Forfeiture of unvested awards | (3,447) |
Value of Awards Issued | 35,104 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | (22,328) |
Unrecognized Compensation Cost | 48,050 |
Simply Self Storage And Home Partners Of America | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | 3,425 |
Forfeiture of unvested awards | (75) |
Value of Awards Issued | 32,683 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | (13,180) |
Unrecognized Compensation Cost | 22,853 |
2021 | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | 37,201 |
Forfeiture of unvested awards | (3,279) |
Value of Awards Issued | 0 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | (10,761) |
Unrecognized Compensation Cost | $ 23,161 |
Remaining Amortization Period | 2 years |
2021 | Simply Self Storage And Home Partners Of America | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | $ 3,425 |
Forfeiture of unvested awards | (75) |
Value of Awards Issued | 0 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | (1,308) |
Unrecognized Compensation Cost | $ 2,042 |
Remaining Amortization Period | 2 years |
2022 | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | $ 0 |
Forfeiture of unvested awards | 0 |
Value of Awards Issued | 35,104 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | (10,215) |
Unrecognized Compensation Cost | $ 24,889 |
Remaining Amortization Period | 2 years 8 months 12 days |
2022 | Simply Self Storage And Home Partners Of America | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | $ 0 |
Forfeiture of unvested awards | 0 |
Value of Awards Issued | 32,683 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | (11,872) |
Unrecognized Compensation Cost | $ 20,811 |
Remaining Amortization Period | 2 years 8 months 12 days |
Investments in Real Estate - Sc
Investments in Real Estate - Schedule of Investments in Real Estate, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Real Estate [Abstract] | ||
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Investments in real estate, net | Investments in real estate, net |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Investments in real estate, net | Investments in real estate, net |
Building and building improvements | $ 81,914,789 | $ 53,954,920 |
Land and land improvements | 18,635,672 | 14,652,913 |
Furniture, fixtures and equipment | 2,301,683 | 963,686 |
Right of use asset - operating leases | 1,090,782 | 461,186 |
Right of use asset - financing leases | 72,872 | 72,862 |
Total | 104,015,798 | 70,105,567 |
Accumulated depreciation and amortization | (5,866,306) | (3,163,914) |
Investments in real estate, net | $ 98,149,492 | $ 66,941,653 |
Investments in Real Estate - Ad
Investments in Real Estate - Additional Information (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) property | Dec. 31, 2021 USD ($) property | Dec. 31, 2020 USD ($) property | |
Real Estate Properties [Line Items] | |||
Impairment of investments in real estate | $ | $ 0 | $ 0 | $ 12,300 |
Impairment of properties held for sale | $ | $ 33,600 | $ 0 | $ 0 |
In-place lease intangibles | |||
Real Estate Properties [Line Items] | |||
Weighted-average acquired lease intangibles | 3 years | 3 years | |
Above market leases | |||
Real Estate Properties [Line Items] | |||
Weighted-average acquired lease intangibles | 6 years | 7 years | |
Below market leases | |||
Real Estate Properties [Line Items] | |||
Weighted-average acquired lease intangibles | 11 years | 7 years | |
Trade name intangibles | |||
Real Estate Properties [Line Items] | |||
Weighted-average acquired lease intangibles | 22 years | ||
Rental Housing Properties: | |||
Real Estate Properties [Line Items] | |||
Number of real estate properties classified as held for sale | 23 | 4 | |
Industrial properties | |||
Real Estate Properties [Line Items] | |||
Number of real estate properties classified as held for sale | 1 | ||
Hotel | |||
Real Estate Properties [Line Items] | |||
Number of impaired properties | 2 |
Investments in Real Estate - _2
Investments in Real Estate - Schedule of Details of Properties Acquired (Details) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2022 USD ($) ft² segment transaction property unit key | Dec. 31, 2021 USD ($) transaction property | Dec. 31, 2021 unit | Dec. 31, 2021 ft² | Dec. 31, 2021 key | Dec. 31, 2021 segment | |
Real Estate Properties [Line Items] | ||||||
Purchase Price | $ | $ 35,873,950 | $ 36,935,009 | ||||
Number of Transactions | transaction | 33 | 65 | ||||
Number of Properties | 2,546 | 1,002 | 717 | |||
Rental Housing Properties: | ||||||
Real Estate Properties [Line Items] | ||||||
Purchase Price | $ | $ 27,358,440 | $ 27,439,966 | ||||
Number of Transactions | transaction | 17 | 34 | ||||
Number of Properties | 270 | 672 | ||||
Number of units | unit | 72,193 | 114,014 | ||||
Rental Housing Properties: | Preferred Apartment Communities | ||||||
Real Estate Properties [Line Items] | ||||||
Number of Properties | 45 | |||||
Net Lease Property | ||||||
Real Estate Properties [Line Items] | ||||||
Purchase Price | $ | $ 4,026,768 | |||||
Number of Transactions | transaction | 1 | |||||
Number of Properties | 1 | |||||
Sq. Feet | ft² | 6,901,000 | |||||
Office properties | ||||||
Real Estate Properties [Line Items] | ||||||
Purchase Price | $ | $ 1,794,585 | $ 450,093 | ||||
Number of Transactions | transaction | 4 | 2 | ||||
Number of Properties | 8 | 4 | ||||
Sq. Feet | ft² | 2,693,000 | 727,000 | ||||
Office properties | Preferred Apartment Communities | ||||||
Real Estate Properties [Line Items] | ||||||
Number of Properties | 3 | |||||
Retail properties | ||||||
Real Estate Properties [Line Items] | ||||||
Purchase Price | $ | $ 1,097,412 | $ 868,867 | ||||
Number of Transactions | transaction | 0 | 2 | ||||
Number of Properties | 51 | 13 | ||||
Sq. Feet | ft² | 5,598,000 | 2,454,000 | ||||
Retail properties | Preferred Apartment Communities | ||||||
Real Estate Properties [Line Items] | ||||||
Number of Properties | 51 | |||||
Self storage properties | ||||||
Real Estate Properties [Line Items] | ||||||
Purchase Price | $ | $ 542,335 | $ 410,299 | ||||
Number of Transactions | transaction | 6 | 6 | ||||
Number of Properties | 34 | 31 | ||||
Sq. Feet | ft² | 2,913,000 | 2,273,000 | ||||
Hospitality Properties: | ||||||
Real Estate Properties [Line Items] | ||||||
Purchase Price | $ | $ 504,866 | $ 642,994 | ||||
Number of Transactions | transaction | 1 | 3 | ||||
Number of Properties | 7 | 8 | ||||
Number of keys | key | 1,403 | 1,475,000 | ||||
Data center properties | ||||||
Real Estate Properties [Line Items] | ||||||
Purchase Price | $ | $ 331,184 | $ 180,057 | ||||
Number of Transactions | transaction | 1 | 1 | ||||
Number of Properties | 3 | 2 | ||||
Sq. Feet | ft² | 792,000 | 430,000 | ||||
Industrial properties | ||||||
Real Estate Properties [Line Items] | ||||||
Purchase Price | $ | $ 218,360 | $ 6,942,733 | ||||
Number of Transactions | transaction | 3 | 17 | ||||
Number of Properties | 13 | 272 | ||||
Sq. Feet | ft² | 1,666,000 | 54,326,000 | ||||
Single Family | Home Partners of America JVs | ||||||
Real Estate Properties [Line Items] | ||||||
Number of Properties | 5,761 | 13,030 | ||||
Acquired Properties | ||||||
Real Estate Properties [Line Items] | ||||||
Number of Properties | 387 |
Investments in Real Estate - _3
Investments in Real Estate - Schedule of Purchase Price Allocation of Properties (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Real Estate Properties [Line Items] | ||
Building and building improvements | $ 29,327,825 | $ 27,826,619 |
Land and land improvements | 4,429,122 | 7,162,583 |
Furniture, fixtures and equipment | 738,748 | 437,801 |
In-place lease intangibles | 921,109 | 1,104,530 |
Above-market lease intangibles | 16,281 | 17,820 |
Below-market lease intangibles | (122,217) | (197,404) |
Customer relationships | 197,000 | 0 |
Right of use asset - operating leases | 634,354 | 0 |
Right of use lease liability- operating leases | (460,901) | 0 |
Prepaid ground lease rent | 0 | 174,584 |
Other | 192,629 | 408,476 |
Total purchase price | 35,873,950 | 36,935,009 |
Assumed debt | 4,150,467 | 5,494,319 |
Net purchase price | $ 31,723,483 | $ 31,440,690 |
Investments in Real Estate - _4
Investments in Real Estate - Schedule of Details of Dispositions (Details) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 property | Dec. 31, 2022 USD ($) | Dec. 31, 2022 home | Dec. 31, 2021 USD ($) property home | Dec. 31, 2020 USD ($) property | |
Real Estate Properties [Line Items] | |||||
Number of Properties | property | 128 | 11 | 9 | ||
Net Proceeds | $ 2,918,715 | $ 267,045 | $ 434,880 | ||
Net Gain | 808,846 | $ 7,881 | $ 113,173 | ||
Rental Housing Properties: | |||||
Real Estate Properties [Line Items] | |||||
Number of Properties | 55 | 11 | 11 | 7 | |
Net Proceeds | 1,885,001 | $ 267,045 | $ 295,855 | ||
Net Gain | 468,259 | 7,881 | 77,617 | ||
Losses included in net gain on disposition of assets | 86,700 | $ 24,500 | $ 0 | ||
Industrial properties | |||||
Real Estate Properties [Line Items] | |||||
Number of Properties | 64 | 9 | 0 | 1 | |
Net Proceeds | 887,358 | $ 0 | $ 4,488 | ||
Net Gain | 286,295 | $ 0 | $ 371 | ||
Losses included in net gain on disposition of assets | 2,700 | ||||
Self Storage properties | |||||
Real Estate Properties [Line Items] | |||||
Number of Properties | property | 7 | 0 | 0 | ||
Net Proceeds | 121,009 | $ 0 | $ 0 | ||
Net Gain | 45,501 | $ 0 | $ 0 | ||
Hospitality | |||||
Real Estate Properties [Line Items] | |||||
Number of Properties | property | 2 | 0 | 1 | ||
Net Proceeds | 25,347 | $ 0 | $ 134,537 | ||
Net Gain | $ 8,791 | $ 0 | $ 35,185 | ||
Single Family | |||||
Real Estate Properties [Line Items] | |||||
Number of Properties | home | 573 | 229 |
Investments in Real Estate - Su
Investments in Real Estate - Summary of Assets and Liabilities of Properties Classified as Held for Sale (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Assets: | ||
Investments in real estate, net | $ 378,183 | $ 193,653 |
Other assets | 2,084 | 2,591 |
Total assets | 380,267 | 196,244 |
Liabilities: | ||
Mortgage notes, net | 198,036 | 109,655 |
Other liabilities | 77,016 | 4,722 |
Total liabilities | $ 275,052 | $ 114,377 |
Investments in Unconsolidated_3
Investments in Unconsolidated Entities - Summary of Equity Investment In Unconsolidated Entities (Details) $ in Thousands | Dec. 31, 2022 USD ($) segment jointVenture property | Dec. 31, 2021 USD ($) | Dec. 31, 2021 property | Dec. 31, 2021 segment | Dec. 31, 2021 | Dec. 31, 2021 jointVenture |
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 114 | 147 | ||||
Number of Properties | 2,546 | 1,002 | 717 | |||
BREIT investments in unconsolidated entities | $ | $ 9,369,402 | $ 5,501,305 | ||||
Total unconsolidated entities at historical cost | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 100 | 140 | ||||
Number of Properties | 410 | 232 | ||||
BREIT investments in unconsolidated entities | $ | $ 4,422,151 | 3,887,659 | ||||
QTS Data Centers | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 1 | 1 | ||||
Number of Properties | 62 | 48 | ||||
Ownership Interest | 35.70% | 35.70% | ||||
BREIT investments in unconsolidated entities | $ | $ 1,657,778 | 1,394,359 | ||||
MGM Grand & Mandalay Bay | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 1 | 1 | ||||
Number of Properties | 2 | 2 | ||||
Ownership Interest | 49.90% | 49.90% | ||||
BREIT investments in unconsolidated entities | $ | $ 834,148 | 822,736 | ||||
Rental Housing Investments | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 92 | 130 | ||||
Number of Properties | 87 | 125 | ||||
BREIT investments in unconsolidated entities | $ | $ 1,275,365 | 1,074,832 | ||||
Rental Housing Investments | Minimum | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Interest | 12.20% | 12.20% | ||||
Rental Housing Investments | Maximum | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Interest | 52% | 52% | ||||
Single Family Rental Home | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Properties | property | 10,767 | 9,774 | ||||
Industrial investments | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 3 | 7 | ||||
Number of Properties | 56 | 51 | ||||
BREIT investments in unconsolidated entities | $ | $ 242,883 | 497,491 | ||||
Industrial investments | Investment Joint Venture | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | jointVenture | 3 | 3 | ||||
BREIT investments in unconsolidated entities | $ | $ 242,900 | 291,500 | ||||
Industrial investments | Minimum | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Interest | 10% | 10% | ||||
Industrial investments | Maximum | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Interest | 55% | 55% | ||||
Retail investments | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 2 | 1 | ||||
Number of Properties | 7 | 6 | ||||
Ownership Interest | 50% | 50% | ||||
BREIT investments in unconsolidated entities | $ | $ 97,971 | 98,241 | ||||
Hospitality investment | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 1 | |||||
Number of Properties | 196 | |||||
Ownership Interest | 30% | |||||
BREIT investments in unconsolidated entities | $ | $ 314,006 | |||||
Total unconsolidated entities at fair value | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 14 | 7 | ||||
Number of Properties | 2,136 | 485 | ||||
BREIT investments in unconsolidated entities | $ | $ 4,947,251 | 1,613,646 | ||||
Industrial investments at fair value | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 12 | 7 | ||||
Number of Properties | 2,135 | 485 | ||||
BREIT investments in unconsolidated entities | $ | $ 3,751,864 | 1,613,646 | ||||
Industrial investments at fair value | Investment Joint Venture | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | jointVenture | 4 | 3 | ||||
BREIT investments in unconsolidated entities | $ | $ 2,800,000 | $ 1,000,000 | ||||
Industrial investments at fair value | Minimum | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Interest | 7.90% | 7.90% | ||||
Industrial investments at fair value | Maximum | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership Interest | 85% | 85% | ||||
Office investments | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 1 | |||||
Number of Properties | 1 | |||||
Ownership Interest | 49% | |||||
BREIT investments in unconsolidated entities | $ | $ 520,976 | |||||
Data center properties | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Joint Ventures | 1 | |||||
Ownership Interest | 12.40% | |||||
BREIT investments in unconsolidated entities | $ | $ 674,411 | |||||
Data center properties | Investment Joint Venture | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
BREIT investments in unconsolidated entities | $ | $ 674,400 |
Investments in Unconsolidated_4
Investments in Unconsolidated Entities - Summary of Income From Unconsolidated Entities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Equity Method Investments [Line Items] | |||
Net Income (Loss) of Unconsolidated Joint Ventures | $ 182,249 | $ 205,980 | $ 88,571 |
Total unconsolidated entities at historical cost | |||
Schedule of Equity Method Investments [Line Items] | |||
Net Income (Loss) of Unconsolidated Joint Ventures | $ (142,089) | $ 12,422 | 88,571 |
QTS Data Centers | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 35.70% | 35.70% | |
Net Income (Loss) of Unconsolidated Joint Ventures | $ (167,805) | $ (71,745) | 0 |
MGM Grand & Mandalay Bay | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 49.90% | 49.90% | |
Net Income (Loss) of Unconsolidated Joint Ventures | $ 99,878 | $ 100,276 | 88,571 |
Rental Housing Investments | |||
Schedule of Equity Method Investments [Line Items] | |||
Net Income (Loss) of Unconsolidated Joint Ventures | $ (79,148) | $ (17,461) | 0 |
Rental Housing Investments | Minimum | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 12.20% | 12.20% | |
Rental Housing Investments | Maximum | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 52% | 52% | |
Industrial investments | |||
Schedule of Equity Method Investments [Line Items] | |||
Net Income (Loss) of Unconsolidated Joint Ventures | $ (310) | $ 1,185 | 0 |
Industrial investments | Minimum | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 10% | 10% | |
Industrial investments | Maximum | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 55% | 55% | |
Industrial investments at fair value | |||
Schedule of Equity Method Investments [Line Items] | |||
Net Income (Loss) of Unconsolidated Joint Ventures | $ 320,118 | $ 193,558 | 0 |
Industrial investments at fair value | Minimum | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 7.90% | 7.90% | |
Industrial investments at fair value | Maximum | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 85% | 85% | |
Retail investments | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 50% | 50% | |
Net Income (Loss) of Unconsolidated Joint Ventures | $ (1,007) | $ 167 | 0 |
Hospitality investment | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 30% | ||
Net Income (Loss) of Unconsolidated Joint Ventures | $ 6,303 | 0 | 0 |
Total unconsolidated entities at fair value | |||
Schedule of Equity Method Investments [Line Items] | |||
Net Income (Loss) of Unconsolidated Joint Ventures | $ 324,338 | 193,558 | 0 |
Office investments | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 49% | ||
Net Income (Loss) of Unconsolidated Joint Ventures | $ 4,493 | 0 | 0 |
Data center properties | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership Interest | 12.40% | ||
Net Income (Loss) of Unconsolidated Joint Ventures | $ (273) | $ 0 | $ 0 |
Investments in Unconsolidated_5
Investments in Unconsolidated Entities - Balance Sheet Information of Unconsolidated Joint Venture (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of Equity Method Investments [Line Items] | ||
Total assets | $ 142,687,424 | $ 106,338,864 |
Total liabilities | 91,933,250 | 66,558,268 |
Equity | 44,455,264 | 36,645,403 |
BREIT investments in unconsolidated entities | 9,369,402 | 5,501,305 |
Total unconsolidated entities at fair value | ||
Schedule of Equity Method Investments [Line Items] | ||
BREIT's share of net equity | 7,253,656 | 3,898,861 |
BREIT fair value adjustment | 1,169,369 | 166,067 |
BREIT outside basis | 946,377 | 1,436,377 |
BREIT investments in unconsolidated entities | 4,947,251 | 1,613,646 |
Total unconsolidated entities at fair value | ||
Schedule of Equity Method Investments [Line Items] | ||
Total assets | 74,497,816 | 38,438,322 |
Total liabilities | $ 45,934,895 | $ 25,402,902 |
Investments in Unconsolidated_6
Investments in Unconsolidated Entities - Statement of Operations Information of Unconsolidated Join Venture (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statements: | |||
Total revenues | $ 7,646,378 | $ 3,696,671 | $ 2,551,648 |
Net income | (1,080,308) | (836,164) | (867,402) |
BREIT's share of net income | (23,680) | (9,291) | (11,586) |
Amortization of outside basis | (173,109) | (22,090) | (2,417) |
Net Income (Loss) of Unconsolidated Joint Ventures | 182,249 | 205,980 | 88,571 |
Total unconsolidated entities at fair value | |||
Income Statements: | |||
BREIT's share of net income | 143,941 | 56,246 | 88,701 |
BREIT fair value adjustment | 86,106 | 166,067 | 0 |
Amortization of outside basis | (47,798) | (16,333) | (130) |
Net Income (Loss) of Unconsolidated Joint Ventures | 324,338 | 193,558 | 0 |
Total unconsolidated entities at fair value | |||
Income Statements: | |||
Total revenues | 6,869,106 | 1,397,424 | 346,482 |
Net income | 208,880 | 136,869 | 177,757 |
Rental revenue | |||
Income Statements: | |||
Total revenues | 6,564,119 | 3,140,528 | 2,235,872 |
Other revenue | |||
Income Statements: | |||
Total revenues | $ 360,605 | $ 143,805 | $ 66,867 |
Investments in Real Estate De_3
Investments in Real Estate Debt - Summary of Investments in Real Estate Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Weighted Average Coupon | 6.80% | 3.70% |
Face Amount | $ 8,694,798 | $ 7,083,013 |
Cost Basis | 8,675,567 | 7,022,790 |
Fair Value | 8,001,703 | 6,970,606 |
Notional Amount | 40,556,507 | 10,576,210 |
Interest Rate Swaps Investments In Real Estate Debt | Non-designated Hedges | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Notional Amount | $ 1,392,960 | $ 1,076,210 |
Total real estate securities | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Weighted Average Coupon | 6.40% | 3.60% |
Face Amount | $ 6,995,756 | $ 5,380,438 |
Cost Basis | 6,992,859 | 5,350,074 |
Fair Value | $ 6,341,477 | $ 5,311,102 |
CMBS | Total real estate securities | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Weighted Average Coupon | 3.90% | 3.50% |
Face Amount | $ 6,474,823 | $ 5,097,318 |
Cost Basis | 6,473,296 | 5,068,099 |
Fair Value | $ 5,943,403 | $ 5,029,942 |
RMBS | Total real estate securities | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Weighted Average Coupon | 4.50% | 3.90% |
Face Amount | $ 404,953 | $ 147,170 |
Cost Basis | 393,511 | 146,023 |
Fair Value | $ 292,516 | $ 144,691 |
Corporate bonds | Total real estate securities | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Weighted Average Coupon | 4.90% | 4.80% |
Face Amount | $ 115,980 | $ 135,950 |
Cost Basis | 126,052 | 135,952 |
Fair Value | $ 105,558 | $ 136,469 |
Private commercial real estate loans | Commercial real estate loans | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Weighted Average Coupon | 5.50% | 4.40% |
Face Amount | $ 1,489,296 | $ 1,474,617 |
Cost Basis | 1,499,691 | 1,473,807 |
Fair Value | $ 1,483,358 | $ 1,460,717 |
Other Investments | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Weighted Average Coupon | 3.70% | 3.70% |
Face Amount | $ 209,746 | $ 227,958 |
Cost Basis | 183,017 | 198,909 |
Fair Value | 176,868 | 198,787 |
CMBS, interest only securities | Total real estate securities | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Face Amount | $ 1,100,000 | $ 1,100,000 |
Investments in Real Estate De_4
Investments in Real Estate Debt - Summary of Collateral Type of Properties Securing Investments in Real Estate Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 8,675,567 | $ 7,022,790 |
Fair Value | $ 8,001,703 | $ 6,970,606 |
Percentage Based on Fair Value | 100% | 100% |
Interest-Only-Strip | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Fair Value | $ 17,000 | |
Industrial | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | 2,681,299 | $ 2,597,948 |
Fair Value | $ 2,483,592 | $ 2,573,935 |
Percentage Based on Fair Value | 32% | 37% |
Rental Housing | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 2,119,282 | $ 1,250,446 |
Fair Value | $ 1,940,795 | $ 1,261,455 |
Percentage Based on Fair Value | 24% | 18% |
Hospitality | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 1,884,353 | $ 1,866,683 |
Fair Value | $ 1,768,090 | $ 1,848,015 |
Percentage Based on Fair Value | 22% | 27% |
Net Lease | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 983,374 | $ 8,885 |
Fair Value | $ 947,368 | $ 8,779 |
Percentage Based on Fair Value | 12% | 0% |
Office | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 552,016 | $ 546,548 |
Fair Value | $ 439,938 | $ 527,148 |
Percentage Based on Fair Value | 5% | 8% |
Other | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 360,903 | $ 331,169 |
Fair Value | $ 339,609 | $ 328,745 |
Percentage Based on Fair Value | 4% | 5% |
Diversified | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 94,340 | $ 403,737 |
Fair Value | $ 82,311 | $ 405,569 |
Percentage Based on Fair Value | 1% | 5% |
Retail | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 0 | $ 17,374 |
Fair Value | $ 0 | $ 16,960 |
Percentage Based on Fair Value | 0% | 0% |
Investments in Real Estate De_5
Investments in Real Estate Debt - Summary of Credit Rating of Investments in Real Estate Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 8,675,567 | $ 7,022,790 |
Fair Value | $ 8,001,703 | $ 6,970,606 |
Percentage Based on Fair Value | 100% | 100% |
A | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 91,809 | $ 127,118 |
Fair Value | $ 86,055 | $ 125,420 |
Percentage Based on Fair Value | 1% | 2% |
BBB | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 1,077,419 | $ 340,326 |
Fair Value | $ 1,024,908 | $ 337,509 |
Percentage Based on Fair Value | 13% | 5% |
BB | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 1,858,101 | $ 1,446,160 |
Fair Value | $ 1,659,281 | $ 1,441,879 |
Percentage Based on Fair Value | 21% | 21% |
B | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 1,609,017 | $ 1,459,218 |
Fair Value | $ 1,424,940 | $ 1,436,271 |
Percentage Based on Fair Value | 18% | 21% |
CCC | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 40,486 | $ 24,338 |
Fair Value | $ 33,225 | $ 24,242 |
Percentage Based on Fair Value | 0% | 0% |
Private commercial real estate loans | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 1,682,708 | $ 1,598,701 |
Fair Value | $ 1,660,226 | $ 1,585,738 |
Percentage Based on Fair Value | 21% | 23% |
Not Rated | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Cost Basis | $ 2,316,027 | $ 2,026,929 |
Fair Value | $ 2,113,068 | $ 2,019,547 |
Percentage Based on Fair Value | 26% | 28% |
Weighted average LTV at origination | 64% | |
Not Rated | Industrial properties | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Weighted average LTV at origination | 62.80% | |
Not Rated | Rental Housing Properties: | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Weighted average LTV at origination | 27.40% |
Investments in Real Estate De_6
Investments in Real Estate Debt - Schedule of Real Estate Investment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Investments [Abstract] | |||
Interest income | $ 472,855 | $ 181,332 | $ 187,018 |
Unrealized (loss) gain | (629,079) | 56,148 | (131,419) |
Realized (loss) gain | (116,262) | 47,963 | (21,240) |
Total | (272,486) | 285,443 | 34,359 |
Income from interest rate swaps and other derivatives | 220,159 | 81,886 | (73,593) |
Income from secured financings of investments in real estate debt | 36,644 | 25,798 | (33,540) |
Other loss | (11,390) | (1,260) | (1,579) |
Total (loss) income from investments in real estate debt | $ (27,073) | $ 391,867 | $ (74,353) |
Investments in Real Estate De_7
Investments in Real Estate Debt - Schedule of Company's Affiliate Investments In Real Estate Debt (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Debt and Equity Securities, FV-NI [Line Items] | |||
Fair Value | $ 8,001,703 | $ 6,970,606 | |
CMBS | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Fair Value | 1,683,765 | 3,099,694 | |
Income (Loss) | (107,702) | 105,421 | $ (14,950) |
Commercial real estate loans | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Fair Value | 835,846 | 556,571 | |
Income (Loss) | 41,012 | (11,611) | 79,689 |
Total | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Fair Value | 2,519,611 | 3,656,265 | |
Income (Loss) | $ (66,690) | $ 93,810 | $ 64,739 |
Investments in Real Estate De_8
Investments in Real Estate Debt - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Marketable Securities [Line Items] | |||
Investments in real estate debt | $ 8,675,567 | $ 7,022,790 | |
Commercial Mortgage Backed Securities Collateralized by Pools of Commercial Real Estate Debt | |||
Marketable Securities [Line Items] | |||
Investments in real estate debt | 1,900,000 | 1,400,000 | |
Investments, income (loss) | $ 62,100 | $ 47,600 | $ 11,700 |
Consolidated Securitization V_3
Consolidated Securitization Vehicles (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 USD ($) loan | Dec. 31, 2021 USD ($) loan | |
Transfers and Servicing [Abstract] | ||
Real estate loans held by consolidated securitization vehicles, count | loan | 292 | 173 |
Senior obligations of consolidated securitization vehicles, count | loan | 22 | 22 |
Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles, count | loan | 22,000 | 22 |
Real estate loans held by consolidated securitization vehicles, at principal value | $ 17,527,441 | $ 16,873,465 |
Senior obligations of consolidated securitization vehicles, at principal value | 15,565,671 | 14,780,036 |
Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles, at principal value | 1,961,770 | 2,093,429 |
Real estate loans held by consolidated securitization vehicles, at fair value | 17,030,387 | 17,055,986 |
Senior obligations of consolidated securitization vehicles, at fair value | 15,288,598 | 15,030,653 |
Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles, at fair value | $ 1,741,789 | $ 2,025,333 |
Real estate loans held by consolidated securitization vehicles, weighted average yield | 5.10% | 2.40% |
Senior obligations of consolidated securitization vehicles, weighted average cost | 4.90% | 2.10% |
Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles, weighted average yield and cost | 6.60% | 3.60% |
Mortgage Notes, Secured Term _3
Mortgage Notes, Secured Term Loans, and Secured Revolving Credit Facilities - Summary of Company's Mortgage Notes, Term Loans and Secured Revolving Credit Facilities (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | ||
Total loans secured by real estate | $ 65,631,049,000 | $ 41,570,681,000 |
(Discount) premium on assumed debt, net | (121,435,000) | 68,706,000 |
Deferred financing costs, net | (546,911,000) | (311,999,000) |
Mortgage notes, secured term loans, and secured revolving credit facilities, net | 64,962,703,000 | 41,327,388,000 |
Outstanding interest rate swaps | $ 40,556,507,000 | 10,576,210,000 |
Weighted average interest rate, including derivative impact | 4.30% | |
Interest Rate Swap | ||
Debt Instrument [Line Items] | ||
Outstanding interest rate swaps | $ 32,400,000,000 | |
Interest Rate Caps Property Debt | ||
Debt Instrument [Line Items] | ||
Outstanding interest rate swaps | $ 14,100,000,000 | |
Weighted Average | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate, fixed | 5.50% | |
Total variable rate loans | ||
Debt Instrument [Line Items] | ||
Total loans secured by real estate | $ 40,478,688,000 | 22,484,156,000 |
Total variable rate loans | One-Month LIBOR | Weighted Average | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate, variable | 2.30% | |
Affordable Housing Properties Loan | ||
Debt Instrument [Line Items] | ||
Total loans secured by real estate | $ 364,500,000 | 396,300,000 |
Mortgage and Term Loans | Total variable rate loans | ||
Debt Instrument [Line Items] | ||
Total loans secured by real estate | $ 34,141,570,000 | 20,075,465,000 |
Mortgage and Term Loans | Total variable rate loans | One-Month LIBOR | Weighted Average | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate, variable | 2.40% | |
Mortgage loans | Total fixed rate loans | ||
Debt Instrument [Line Items] | ||
Total loans secured by real estate | $ 25,152,361,000 | 19,086,525,000 |
Mortgage loans | Total fixed rate loans | Weighted Average | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate, fixed | 3.70% | |
Secured Revolving Credit Facility | Total variable rate loans | ||
Debt Instrument [Line Items] | ||
Maximum Facility Size | $ 4,211,100,000 | |
Total loans secured by real estate | $ 2,608,778,000 | 1,614,550,000 |
Secured Revolving Credit Facility | Total variable rate loans | One-Month LIBOR | Weighted Average | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate, variable | 1.60% | |
Warehouse facilities | Total variable rate loans | ||
Debt Instrument [Line Items] | ||
Maximum Facility Size | $ 4,284,381,000 | |
Total loans secured by real estate | $ 3,728,340,000 | $ 794,141,000 |
Warehouse facilities | Total variable rate loans | One-Month LIBOR | Weighted Average | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate, variable | 1.90% |
Mortgage Notes, Secured Term _4
Mortgage Notes, Secured Term Loans, and Secured Revolving Credit Facilities - Summary of Future Principal Payment Due Under Company's Mortgage Notes, Term Loans, and Secured Revolving Credit Facilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2023 | $ 632,020 | |
2024 | 4,755,792 | |
2025 | 9,182,374 | |
2026 | 17,493,421 | |
2027 | 19,148,859 | |
Thereafter | 14,418,583 | |
Long-term debt | $ 65,631,049 | $ 41,570,681 |
Mortgage Notes, Secured Term _5
Mortgage Notes, Secured Term Loans, and Secured Revolving Credit Facilities - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |||
Loss on extinguishment of debt | $ (11,476) | $ (16,331) | $ (10,356) |
Secured Financings on Investm_3
Secured Financings on Investments in Real Estate Debt - Secured Financings on Investments in Real Estate Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Borrowings Outstanding | $ 4,966,685 | $ 4,706,632 |
Total assets | 142,687,424 | 106,338,864 |
Asset Pledged as Collateral | ||
Debt Instrument [Line Items] | ||
Total assets | $ 8,138,317 | $ 7,211,246 |
LIBOR | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 1.30% | 1% |
CMBS | ||
Debt Instrument [Line Items] | ||
Borrowings Outstanding | $ 4,482,728 | $ 4,308,015 |
CMBS | Asset Pledged as Collateral | ||
Debt Instrument [Line Items] | ||
Total assets | $ 7,447,672 | $ 6,604,524 |
CMBS | LIBOR | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 1.30% | 0.90% |
RMBS | ||
Debt Instrument [Line Items] | ||
Borrowings Outstanding | $ 220,694 | $ 83,529 |
RMBS | Asset Pledged as Collateral | ||
Debt Instrument [Line Items] | ||
Total assets | $ 294,337 | $ 125,967 |
RMBS | LIBOR | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 1.10% | 0.90% |
Commercial real estate loans | ||
Debt Instrument [Line Items] | ||
Borrowings Outstanding | $ 163,547 | $ 224,510 |
Commercial real estate loans | Asset Pledged as Collateral | ||
Debt Instrument [Line Items] | ||
Total assets | $ 259,224 | $ 345,400 |
Commercial real estate loans | LIBOR | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 1.90% | 1.80% |
Corporate bonds | ||
Debt Instrument [Line Items] | ||
Borrowings Outstanding | $ 99,716 | $ 90,578 |
Corporate bonds | Asset Pledged as Collateral | ||
Debt Instrument [Line Items] | ||
Total assets | $ 137,084 | $ 135,355 |
Corporate bonds | LIBOR | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate | 1.10% | 0.80% |
Unsecured Revolving Credit Fa_2
Unsecured Revolving Credit Facilities and Term Loans - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
SOFR | ||
Debt Instrument [Line Items] | ||
Interest rate | 2.50% | |
Unsecured Revolving Credit Facility | ||
Debt Instrument [Line Items] | ||
Extension period (in years) | 1 year | |
Line of credit, capacity | $ 5,600 | $ 2,000 |
Line of credit amount outstanding | 0 | 0 |
Unsecured Revolving Credit Facility | Unsercured Term Loan | ||
Debt Instrument [Line Items] | ||
Unsecured term loan | $ 1,100 | 0 |
Unsecured Revolving Credit Facility | Affiliated | ||
Debt Instrument [Line Items] | ||
Extension period (in years) | 12 months | |
Line of credit, capacity | $ 75 | |
Line of credit amount outstanding | $ 0 | $ 0 |
Unsecured Revolving Credit Facility | SOFR | ||
Debt Instrument [Line Items] | ||
Interest rate | 2.50% | |
Unsecured Revolving Credit Facility | SOFR | Unsercured Term Loan | ||
Debt Instrument [Line Items] | ||
Interest rate | 2.50% |
Related Party Transactions - Su
Related Party Transactions - Summary of Components of Due to Affiliates (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Related Party Transaction [Line Items] | ||
Total components due to affiliates | $ 1,676,308 | $ 1,309,447 |
Accrued stockholder servicing fee | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 1,588,178 | 1,235,592 |
Performance participation allocation | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 0 | 0 |
Accrued management fee | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 71,644 | 56,607 |
Accrued affiliate service provider expenses | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 14,975 | 12,880 |
Advanced organization and offering costs | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 0 | 2,045 |
Other | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | $ 1,511 | $ 2,323 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Details) shares in Thousands, $ in Thousands | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2021 USD ($) shares | Jan. 31, 2023 shares | Jan. 31, 2022 USD ($) shares | Jan. 31, 2021 USD ($) shares | Mar. 10, 2023 | Dec. 31, 2022 USD ($) shares | Sep. 30, 2022 USD ($) shares | Dec. 31, 2022 USD ($) investment shares | Dec. 31, 2021 USD ($) investment shares | Dec. 31, 2020 USD ($) shares | Mar. 17, 2023 USD ($) | Jan. 01, 2023 | |
Related Party Transaction [Line Items] | ||||||||||||
Performance participation allocation | $ 742,670 | $ 1,378,959 | $ 192,648 | |||||||||
Performance participation allocation shortfall | 74,900 | |||||||||||
Stock redeemed, value | $ 566,600 | |||||||||||
Management fee | $ 837,687 | 445,291 | $ 224,776 | |||||||||
Amortization period of grant (in years) | 4 years | |||||||||||
Total components due to affiliates | $ 1,309,447 | $ 1,676,308 | $ 1,676,308 | $ 1,309,447 | ||||||||
Stock repurchased (in shares) | shares | 702,574 | 113,694 | 132,689 | |||||||||
Common stock/units repurchased | $ (10,531,952) | $ (1,424,641) | $ (1,455,096) | |||||||||
Amount contributed to captive towards insurance premium | 91,900 | 57,100 | ||||||||||
Payment for management fee | 1,800 | 1,000 | ||||||||||
Receivable from affiliates | 0 | 74,857 | 74,857 | 0 | ||||||||
Subsequent Event | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Common stock held in parent | $ 1,800,000 | |||||||||||
Subsequent Event | Employees | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Common stock held in parent | $ 1,500,000 | |||||||||||
Accrued Management Fee | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Total components due to affiliates | 56,607 | 71,644 | 71,644 | 56,607 | ||||||||
Advanced Expenses | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Total components due to affiliates | $ 2,300 | $ 1,500 | $ 1,500 | $ 2,300 | ||||||||
Class I | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Stock exchanged (in shares) | shares | 55,200 | 9,000 | 31,700 | |||||||||
Stock issued as payment for services (in shares) | shares | 4,700 | |||||||||||
Stock redeemed (in shares) | shares | 1,900 | |||||||||||
Stock repurchased (in shares) | shares | 597,103 | 92,662 | 76,735 | |||||||||
Class I Units | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Stock exchanged (in shares) | shares | 9,000 | |||||||||||
Common Class I Shares | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Stock redeemed (in shares) | shares | 37,800 | |||||||||||
Class B Shares | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Stock exchanged (in shares) | shares | 55,200 | |||||||||||
Stock issued as payment for services (in shares) | shares | 4,700 | |||||||||||
Blackstone Advisory Partners L.P. | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Commission and fees, threshold percentage on gross proceeds from sale of share | 8.75% | |||||||||||
Special Limited Partner | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Percentage of annual hurdle amount | 5% | |||||||||||
Related party allocation percentage of annual total return | 12.50% | |||||||||||
Percentage of management fee on NAV per annum | 12.50% | |||||||||||
Performance participation allocation | $ 817,500 | |||||||||||
Stock issued as payment for services (in shares) | shares | 1,100 | |||||||||||
Stock redeemed (in shares) | shares | 9,700 | |||||||||||
Stock redeemed, value | $ 111,900 | |||||||||||
Special Limited Partner | Subsequent Event | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Interest accrued on quarterly shortfall | 5% | |||||||||||
Special Limited Partner | Class I | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Stock exchanged (in shares) | shares | 54,900 | |||||||||||
Stock issued as payment for services (in shares) | shares | 96,400 | 15,500 | ||||||||||
Special Limited Partner | Class I | Subsequent Event | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Conversion ratio | 1 | |||||||||||
Special Limited Partner | Class B Shares | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Stock exchanged (in shares) | shares | 1,100 | |||||||||||
All Other Unit Holders | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Related party allocation percentage of annual total return | 87.50% | |||||||||||
Adviser | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Percentage of management fee on NAV per annum | 1.25% | |||||||||||
Management fee | $ 837,700 | $ 445,300 | $ 224,800 | |||||||||
Adviser | Accrued Management Fee | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Total components due to affiliates | $ 56,600 | $ 71,600 | $ 71,600 | $ 56,600 | ||||||||
Adviser | Class I | Management Fee | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Stock issued as payment for services (in shares) | shares | 51,300 | 30,100 | 18,500 | |||||||||
Stock repurchased (in shares) | shares | 25,200 | |||||||||||
Common stock/units repurchased | $ (321,400) | |||||||||||
Adviser | Class I | Accrued Management Fee | Subsequent Event | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Stock issued as payment for services (in shares) | shares | 4,800 | |||||||||||
LNLS | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Costs paid to LNLS for title services related to investments | $ 27,800 | $ 25,700 | ||||||||||
Number of investments with capitalized costs | investment | 53 | 54 | ||||||||||
LivCor, LLC | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Receivable from affiliates | $ 3,900 | $ 6,000 | $ 6,000 | $ 3,900 | ||||||||
Affiliated | Amortization of Affiliate Service Provider Incentive Compensation Awards | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Related party transaction | $ 22,328 | $ 13,568 | $ 1,394 |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Related Party Expenses Incurred and Amortization of Incentive Compensation Awards Capitalized Support Services (Details) - Affiliated - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Affiliate Service Provider Expenses | |||
Related Party Transaction [Line Items] | |||
Related party transaction | $ 246,571 | $ 131,248 | $ 104,126 |
Amortization of Affiliate Service Provider Incentive Compensation Awards | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 22,328 | 13,568 | 1,394 |
Capitalized Transaction Support Services | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 18,066 | 19,340 | 7,769 |
Link Industrial Properties LLC | Affiliate Service Provider Expenses | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 99,798 | 68,277 | 53,836 |
Link Industrial Properties LLC | Amortization of Affiliate Service Provider Incentive Compensation Awards | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 8,929 | 6,174 | 727 |
Link Industrial Properties LLC | Capitalized Transaction Support Services | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 5,541 | 3,696 | 3,366 |
LivCor, LLC | Affiliate Service Provider Expenses | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 78,490 | 39,481 | 27,144 |
LivCor, LLC | Amortization of Affiliate Service Provider Incentive Compensation Awards | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 9,073 | 6,235 | 214 |
LivCor, LLC | Capitalized Transaction Support Services | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 10,762 | 6,529 | 3,924 |
Revantage Corporate Services, LLC | Affiliate Service Provider Expenses | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 28,984 | 3,029 | 1,951 |
Revantage Corporate Services, LLC | Services Provided To Unconsolidated Entities | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 600 | 100 | 0 |
Revantage Corporate Services, LLC | Amortization of Affiliate Service Provider Incentive Compensation Awards | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 1,668 | 0 | 0 |
Revantage Corporate Services, LLC | Capitalized Transaction Support Services | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 0 | 8,696 | 0 |
BRE Hotels and Resorts LLC | Affiliate Service Provider Expenses | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 17,374 | 11,565 | 15,109 |
BRE Hotels and Resorts LLC | Amortization of Affiliate Service Provider Incentive Compensation Awards | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 1,183 | 728 | 435 |
BRE Hotels and Resorts LLC | Capitalized Transaction Support Services | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 261 | 127 | 0 |
ShopCore Properties TRS Management LLC | Affiliate Service Provider Expenses | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 15,269 | 6,427 | 5,248 |
ShopCore Properties TRS Management LLC | Amortization of Affiliate Service Provider Incentive Compensation Awards | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 631 | 271 | 18 |
ShopCore Properties TRS Management LLC | Capitalized Transaction Support Services | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 1,213 | 292 | 479 |
Beam Living | Affiliate Service Provider Expenses | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 2,572 | 0 | 0 |
Beam Living | Amortization of Affiliate Service Provider Incentive Compensation Awards | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 607 | 0 | 0 |
Beam Living | Capitalized Transaction Support Services | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 59 | 0 | 0 |
Equity Office Management, LLC | Affiliate Service Provider Expenses | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 2,339 | 1,912 | 838 |
Equity Office Management, LLC | Amortization of Affiliate Service Provider Incentive Compensation Awards | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 237 | 160 | 0 |
Equity Office Management, LLC | Capitalized Transaction Support Services | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 230 | 0 | 0 |
Longview Senior Housing Advisors, LLC | Affiliate Service Provider Expenses | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 1,745 | 557 | 0 |
Longview Senior Housing Advisors, LLC | Amortization of Affiliate Service Provider Incentive Compensation Awards | |||
Related Party Transaction [Line Items] | |||
Related party transaction | 0 | 0 | 0 |
Longview Senior Housing Advisors, LLC | Capitalized Transaction Support Services | |||
Related Party Transaction [Line Items] | |||
Related party transaction | $ 0 | $ 0 | $ 0 |
Related Party Transactions - _2
Related Party Transactions - Summary of Incentive Compensation Awards (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | $ 38,721 |
Forfeiture of unvested awards | (3,447) |
Value of Awards Issued | 35,104 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | (22,328) |
Unrecognized Compensation Cost | 48,050 |
2019 | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | 1,520 |
Forfeiture of unvested awards | (168) |
Value of Awards Issued | 0 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | (1,352) |
Unrecognized Compensation Cost | 0 |
2020 | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | 0 |
Forfeiture of unvested awards | 0 |
Value of Awards Issued | 0 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | 0 |
Unrecognized Compensation Cost | 0 |
2021 | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | 37,201 |
Forfeiture of unvested awards | (3,279) |
Value of Awards Issued | 0 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | (10,761) |
Unrecognized Compensation Cost | $ 23,161 |
Remaining Amortization Period | 2 years |
2022 | |
Incentive Compensation Awards [Roll Forward] | |
Unrecognized Compensation Cost, beginning balance | $ 0 |
Forfeiture of unvested awards | 0 |
Value of Awards Issued | 35,104 |
Amortization of Compensation Cost for the Year Ended December 31, 2022 | (10,215) |
Unrecognized Compensation Cost | $ 24,889 |
Remaining Amortization Period | 2 years 8 months 12 days |
Other Assets and Other Liabil_3
Other Assets and Other Liabilities - Summary of Components of Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other Assets [Abstract] | ||
Interest rate and foreign currency hedging derivatives | $ 3,033,595 | $ 41,453 |
Real estate intangibles, net | 1,624,212 | 1,487,436 |
Receivables, net | 821,309 | 381,201 |
Equity securities | 530,119 | 3,225,660 |
Straight-line rent receivable | 454,989 | 275,200 |
Held-for-sale assets | 380,267 | 196,244 |
Single family rental homes risk retention securities | 300,718 | 233,525 |
Prepaid expenses | 146,568 | 151,188 |
Deferred leasing costs, net | 121,230 | 84,990 |
Deferred financing costs, net | 103,049 | 51,535 |
Receivable from affiliates | 74,857 | 0 |
Pre-acquisition costs | 15,915 | 153,659 |
Other | 275,120 | 168,642 |
Total | $ 7,881,948 | $ 6,450,733 |
Other Assets and Other Liabil_4
Other Assets and Other Liabilities - Summary of Components of Other Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other Liabilities [Abstract] | ||
Right of use lease liability - operating leases | $ 638,830 | $ 180,453 |
Accounts payable and accrued expenses | 470,335 | 265,754 |
Accrued interest expense | 395,459 | 215,757 |
Real estate taxes payable | 350,757 | 211,063 |
Intangible liabilities, net | 330,432 | 288,643 |
Held-for-sale liabilities | 275,052 | 114,377 |
Distribution payable | 238,297 | 190,143 |
Tenant security deposits | 237,891 | 172,308 |
Subscriptions received in advance | 208,632 | 1,746,910 |
Prepaid rental income | 188,450 | 125,250 |
Stock repurchases payable | 151,959 | 100,540 |
Securitized debt obligations, net | 123,628 | 200,953 |
Right of use lease liability - financing leases | 77,008 | 75,730 |
Interest rate and foreign currency hedging derivatives | 50,557 | 45,597 |
Other | 174,746 | 250,670 |
Other liabilities | $ 3,912,033 | $ 4,184,148 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Other liabilities | Other liabilities |
Finance Lease, Liability, Statement of Financial Position [Extensible List] | Other liabilities | Other liabilities |
Intangibles - Gross Carrying Am
Intangibles - Gross Carrying Amount and Accumulated Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Intangible assets | ||
Indefinite life intangibles | $ 193,182 | $ 104,182 |
Total intangible assets | 2,658,852 | 2,154,530 |
Accumulated amortization | ||
Total accumulated amortization | (1,034,640) | (667,094) |
Intangible assets, net | 1,624,212 | 1,487,436 |
Intangible liabilities | ||
Below-market lease intangibles | 476,186 | 377,132 |
Total intangible liabilities | 476,186 | 377,132 |
Accumulated amortization | ||
Below-market lease amortization | (145,754) | (88,489) |
Total accumulated amortization | (145,754) | (88,489) |
Intangible liabilities, net | 330,432 | 288,643 |
In-place lease intangibles | ||
Intangible assets | ||
Finite-lived intangible assets | 2,022,087 | 1,920,331 |
Accumulated amortization | ||
Total accumulated amortization | (971,988) | (628,163) |
Intangible assets, net | 1,050,099 | |
Above-market lease intangibles | ||
Intangible assets | ||
Finite-lived intangible assets | 71,952 | 60,383 |
Accumulated amortization | ||
Total accumulated amortization | (31,419) | (22,993) |
Intangible assets, net | 40,533 | |
Other intangibles | ||
Intangible assets | ||
Finite-lived intangible assets | 371,631 | 69,634 |
Accumulated amortization | ||
Total accumulated amortization | (31,233) | $ (15,938) |
Intangible assets, net | $ 340,398 |
Intangibles - Estimated Future
Intangibles - Estimated Future Amortization (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Lease Intangibles | ||
Intangible assets, net | $ 1,624,212 | $ 1,487,436 |
Below-market Lease Intangibles | ||
2023 | (70,309) | |
2024 | (58,768) | |
2025 | (48,406) | |
2026 | (38,275) | |
2027 | (26,776) | |
Thereafter | (87,898) | |
Total | (330,432) | |
In-place Lease Intangibles | ||
Lease Intangibles | ||
2023 | 383,807 | |
2024 | 171,875 | |
2025 | 128,976 | |
2026 | 99,310 | |
2027 | 70,748 | |
Thereafter | 195,383 | |
Intangible assets, net | 1,050,099 | |
Above-market Lease Intangibles | ||
Lease Intangibles | ||
2023 | 9,546 | |
2024 | 7,987 | |
2025 | 6,410 | |
2026 | 5,106 | |
2027 | 3,551 | |
Thereafter | 7,933 | |
Intangible assets, net | 40,533 | |
Other intangibles | ||
Lease Intangibles | ||
2023 | 46,611 | |
2024 | 35,990 | |
2025 | 33,392 | |
2026 | 32,166 | |
2027 | 29,970 | |
Thereafter | 162,269 | |
Intangible assets, net | $ 340,398 |
Derivatives - Schedule of Outst
Derivatives - Schedule of Outstanding Derivatives (Details) € in Thousands, £ in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2022 USD ($) derivative | Dec. 31, 2021 USD ($) derivative | Dec. 31, 2022 EUR (€) derivative | Dec. 31, 2022 GBP (£) derivative | Dec. 31, 2021 EUR (€) derivative | Dec. 31, 2021 GBP (£) derivative | |
Derivatives, Fair Value [Line Items] | ||||||
Notional Amount | $ | $ 40,556,507 | $ 10,576,210 | ||||
Interest Rate Caps Property Debt | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Notional Amount | $ | $ 14,100,000 | |||||
Designated as Hedging Instrument | Interest Rate Swaps Property Debt | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Number of Instruments | 20 | 20 | 20 | |||
Notional Amount | $ | $ 7,417,852 | |||||
Weighted Average Strike | 2.60% | 2.60% | 2.60% | |||
Weighted Average Maturity (Years) | 6 years 1 month 6 days | |||||
Non-designated Hedges | Interest Rate Swaps Property Debt | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Number of Instruments | 50 | 22 | 50 | 50 | 22 | 22 |
Notional Amount | $ | $ 25,015,600 | $ 9,500,000 | ||||
Weighted Average Strike | 2% | 1.30% | 2% | 2% | 1.30% | 1.30% |
Weighted Average Maturity (Years) | 7 years 3 months 18 days | 7 years | ||||
Non-designated Hedges | Interest Rate Caps Property Debt | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Number of Instruments | 135 | 135 | 135 | |||
Notional Amount | $ | $ 14,147,947 | |||||
Weighted Average Strike | 4.10% | 4.10% | 4.10% | |||
Weighted Average Maturity (Years) | 9 months 18 days | |||||
Non-designated Hedges | Interest Rate Swaps Investments In Real Estate Debt | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Number of Instruments | 61 | 54 | 61 | 61 | 54 | 54 |
Notional Amount | $ | $ 1,392,960 | $ 1,076,210 | ||||
Weighted Average Strike | 1.40% | 1% | 1.40% | 1.40% | 1% | 1% |
Weighted Average Maturity (Years) | 4 years 1 month 6 days | 4 years 9 months 18 days | ||||
Non-designated Hedges | Buy USD / Sell EUR Forward | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Notional Amount | € | € 160,206 | € 552,513 | ||||
Number of Instruments | 14 | 10 | 14 | 14 | 10 | 10 |
Non-designated Hedges | Buy USD / Sell GBP Forward | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Notional Amount | £ | £ 132,563 | £ 267,368 | ||||
Number of Instruments | 12 | 7 | 12 | 12 | 7 | 7 |
Non-designated Hedges | Buy EUR / Sell USD Forward | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Notional Amount | € | € 0 | € 5,978 | ||||
Number of Instruments | 0 | 1 | 0 | 0 | 1 | 1 |
Non-designated Hedges | Buy GBP / Sell USD Forward | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Notional Amount | £ | £ 0 | £ 15,396 | ||||
Number of Instruments | 0 | 3 | 0 | 0 | 3 | 3 |
Derivatives - Schedule of Fair
Derivatives - Schedule of Fair Value of Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Fair Value of Derivatives in an Asset Position | $ 3,033,595 | $ 41,453 |
Fair Value of Derivatives in a Liability Position | 50,557 | 45,597 |
Interest rate cap | 237,700 | 0 |
Non-designated Hedges | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Derivatives in an Asset Position | 2,624,335 | 41,453 |
Fair Value of Derivatives in a Liability Position | 50,557 | 45,597 |
Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Derivatives in an Asset Position | 409,260 | 0 |
Fair Value of Derivatives in a Liability Position | 0 | 0 |
Interest Rate Caps Property Debt | Non-designated Hedges | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Derivatives in an Asset Position | 183,392 | 0 |
Fair Value of Derivatives in a Liability Position | 36,173 | 0 |
Interest Rate Swaps Property Debt | Non-designated Hedges | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Derivatives in an Asset Position | 2,310,511 | 22,089 |
Fair Value of Derivatives in a Liability Position | 0 | 29,796 |
Interest Rate Swaps Property Debt | Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Derivatives in an Asset Position | 409,260 | 0 |
Fair Value of Derivatives in a Liability Position | 0 | 0 |
Interest Rate Swaps Investments In Real Estate Debt | Non-designated Hedges | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Derivatives in an Asset Position | 130,181 | 19,034 |
Fair Value of Derivatives in a Liability Position | 0 | 8,266 |
Foreign currency forward contracts | Non-designated Hedges | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Derivatives in an Asset Position | 251 | 330 |
Fair Value of Derivatives in a Liability Position | $ 14,384 | $ 7,535 |
Derivatives - Schedule of Effec
Derivatives - Schedule of Effect of Derivative Financial Instruments on Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Realized/unrealized gain (loss) | $ 2,663,484 | $ 74,175 | $ (73,593) |
Unrealized gain on derivatives | 408,069 | 0 | 0 |
Total | 3,071,553 | 74,175 | (73,593) |
Gain reclassified to earnings | 79,400 | ||
Interest Rate Swaps Property Debt | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Interest rate swap - investments in real estate debt, unrealized gain | 2,262,337 | (7,711) | 0 |
Unrealized gain on derivatives | 408,069 | 0 | 0 |
Interest Rate Caps Property Debt | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Interest rate caps - property debt, unrealized gain | 180,988 | 0 | 0 |
Income From Investments In Real Estate Debt | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Interest rate swap - investments in real estate debt, unrealized gain | 119,407 | 57,470 | (43,029) |
Interest rate swap - investments in real estate debt, realized loss | 21,728 | (11,335) | (6,722) |
Foreign Currency Forward Contract | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Foreign currency forward contract, realized gain (loss) | 85,889 | 27,606 | (14,703) |
Foreign currency forward contract, unrealized gain | $ (6,865) | $ 8,145 | $ (9,139) |
Derivatives - Additional Inform
Derivatives - Additional Information (Details) $ in Millions | Dec. 31, 2022 USD ($) counterparty | Dec. 31, 2021 USD ($) counterparty |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Number of derivative counterparties | counterparty | 2 | 1 |
Fair value of assets that posted collateral | $ | $ 47.6 | $ 5.1 |
Equity and Redeemable Non-con_3
Equity and Redeemable Non-controlling Interest - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2022 | Nov. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Equity [Line Items] | ||||||
Number of shares authorized (in shares) | 10,600,000,000 | 10,600,000,000 | ||||
Common stock repurchased, value | $ 10,531,952 | $ 1,424,641 | $ 1,455,096 | |||
Non-controlling interests attributable to third party joint ventures | $ 4,278,895 | 4,278,895 | 1,744,256 | |||
Allocation adjustment amount between additional paid-in capital and redeemable non controlling interest | $ (39,282) | $ (103,442) | $ (8,770) | |||
Common stock, shares outstanding (in shares) | 4,486,178,000 | 4,486,178,000 | 3,689,353,000 | 1,800,017,000 | 1,129,516,000 | |
Issuance of BREIT OP units as consideration for acquisitions of real estate and purchases of non-controlling interests | $ 229,313 | $ 395,752 | $ 770 | |||
BREIT Operating Partnership | ||||||
Equity [Line Items] | ||||||
Strategic venture, shares purchased, value | $ 110,000 | $ 0 | ||||
Class B Units | BREIT Operating Partnership | ||||||
Equity [Line Items] | ||||||
Common stock, shares outstanding (in shares) | 21,700,000 | 21,700,000 | 10,100,000 | |||
Third Party Joint Ventures | ||||||
Equity [Line Items] | ||||||
Non-controlling interests attributable to third party joint ventures | $ 209,300 | $ 209,300 | $ 160,800 | |||
Share Repurchase Plan | ||||||
Equity [Line Items] | ||||||
Monthly maximum percent | 2% | |||||
Quarterly maximum percent | 5% | |||||
Common stock repurchased during period (in shares) | 702,600,000 | 113,700,000 | 132,700,000 | |||
Common stock repurchased, value | $ 10,500,000 | $ 1,400,000 | $ 1,500,000 | |||
BREIT OP units repurchased (in units) | 3,500,000 | 200,000 | 7,700,000 | |||
Requests fulfilled, percent of NAV | 0.20% | 2% | ||||
Requests fulfilled percent | 4% | 43% |
Equity and Redeemable Non-con_4
Equity and Redeemable Non-controlling Interest - Schedule of Company's Authorized Capital (Details) - $ / shares | Dec. 31, 2022 | Dec. 31, 2021 |
Class of Stock [Line Items] | ||
Preferred stock, authorized shares (in shares) | 100,000,000 | |
Total, shares authorized (in shares) | 10,600,000,000 | |
Preferred stock par value (in dollars per share) | $ 0.01 | |
Class S | ||
Class of Stock [Line Items] | ||
Common stock, shares authorized (in shares) | 3,000,000,000 | 3,000,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Class I | ||
Class of Stock [Line Items] | ||
Common stock, shares authorized (in shares) | 6,000,000,000 | 6,000,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Class T | ||
Class of Stock [Line Items] | ||
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Class D | ||
Class of Stock [Line Items] | ||
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Class C Shares | ||
Class of Stock [Line Items] | ||
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Equity and Redeemable Non-con_5
Equity and Redeemable Non-controlling Interest - Schedule of Company's Outstanding Shares of Common Stock (Details) - USD ($) shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Common Stock, Shares Outstanding [Roll Forward] | |||
Beginning balance (in shares) | 3,689,353 | 1,800,017 | 1,129,516 |
Common stock issued (in shares) | 1,405,954 | 1,940,740 | 758,301 |
Distribution reinvestment (in shares) | 93,397 | 62,229 | 44,852 |
Common stock repurchased (in shares) | (702,574) | (113,694) | (132,689) |
Independent directors' restricted stock grant (in shares) | 48 | 61 | 37 |
Ending balance (in shares) | 4,486,178 | 3,689,353 | 1,800,017 |
Restricted Stock | |||
Common Stock, Shares Outstanding [Roll Forward] | |||
Award requisite service period (in years) | 1 year | ||
Restricted Stock | Independent Director | |||
Common Stock, Shares Outstanding [Roll Forward] | |||
Independent directors' restricted stock grant, value | $ 0.7 | $ 0.7 | $ 0.4 |
Class S | |||
Common Stock, Shares Outstanding [Roll Forward] | |||
Beginning balance (in shares) | 1,254,348 | 702,853 | 530,813 |
Common stock issued (in shares) | 389,405 | 543,534 | 196,343 |
Distribution reinvestment (in shares) | 31,957 | 25,157 | 20,860 |
Common stock repurchased (in shares) | (78,296) | (17,196) | (45,163) |
Independent directors' restricted stock grant (in shares) | 0 | 0 | 0 |
Ending balance (in shares) | 1,597,414 | 1,254,348 | 702,853 |
Class I | |||
Common Stock, Shares Outstanding [Roll Forward] | |||
Beginning balance (in shares) | 2,086,631 | 927,080 | 474,279 |
Common stock issued (in shares) | 854,023 | 1,221,551 | 510,136 |
Distribution reinvestment (in shares) | 51,138 | 30,601 | 19,363 |
Common stock repurchased (in shares) | (597,103) | (92,662) | (76,735) |
Independent directors' restricted stock grant (in shares) | 48 | 61 | 37 |
Ending balance (in shares) | 2,394,737 | 2,086,631 | 927,080 |
Class T | |||
Common Stock, Shares Outstanding [Roll Forward] | |||
Beginning balance (in shares) | 57,287 | 45,943 | 39,767 |
Common stock issued (in shares) | 16,849 | 11,392 | 8,497 |
Distribution reinvestment (in shares) | 1,646 | 1,360 | 1,330 |
Common stock repurchased (in shares) | (3,183) | (1,408) | (3,651) |
Independent directors' restricted stock grant (in shares) | 0 | 0 | 0 |
Ending balance (in shares) | 72,599 | 57,287 | 45,943 |
Class D | |||
Common Stock, Shares Outstanding [Roll Forward] | |||
Beginning balance (in shares) | 291,087 | 124,141 | 84,657 |
Common stock issued (in shares) | 145,677 | 164,263 | 43,325 |
Distribution reinvestment (in shares) | 8,656 | 5,111 | 3,299 |
Common stock repurchased (in shares) | (23,992) | (2,428) | (7,140) |
Independent directors' restricted stock grant (in shares) | 0 | 0 | 0 |
Ending balance (in shares) | 421,428 | 291,087 | 124,141 |
Equity and Redeemable Non-con_6
Equity and Redeemable Non-controlling Interest - Schedule of Aggregate Distributions Declared for Applicable Class of Common Stock (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Dividends Payable [Line Items] | |||
Aggregate gross distributions declared per share of common stock (in dollars per share) | $ 0.6685 | $ 0.6508 | $ 0.6354 |
Capital gains | 5.65% | 3.36% | |
Return of capital | 94.35% | 91.91% | 100% |
Ordinary income | 4.73% | ||
Non-qualified for distribution payment | 4.73% | ||
Class S | |||
Dividends Payable [Line Items] | |||
Aggregate gross distributions declared per share of common stock (in dollars per share) | $ 0.6685 | $ 0.6508 | $ 0.6354 |
Stockholder servicing fee per share of common stock (in dollars per share) | (0.1273) | (0.1096) | (0.0942) |
Net distributions declared per share of common stock (in dollars per share) | 0.5412 | 0.5412 | 0.5412 |
Class I | |||
Dividends Payable [Line Items] | |||
Aggregate gross distributions declared per share of common stock (in dollars per share) | 0.6685 | 0.6508 | 0.6354 |
Stockholder servicing fee per share of common stock (in dollars per share) | 0 | 0 | 0 |
Net distributions declared per share of common stock (in dollars per share) | 0.6685 | 0.6508 | 0.6354 |
Class T | |||
Dividends Payable [Line Items] | |||
Aggregate gross distributions declared per share of common stock (in dollars per share) | 0.6685 | 0.6508 | 0.6354 |
Stockholder servicing fee per share of common stock (in dollars per share) | (0.1254) | (0.1081) | (0.0929) |
Net distributions declared per share of common stock (in dollars per share) | 0.5431 | 0.5427 | 0.5425 |
Class D | |||
Dividends Payable [Line Items] | |||
Aggregate gross distributions declared per share of common stock (in dollars per share) | 0.6685 | 0.6508 | 0.6354 |
Stockholder servicing fee per share of common stock (in dollars per share) | (0.0366) | (0.0317) | (0.0274) |
Net distributions declared per share of common stock (in dollars per share) | $ 0.6319 | $ 0.6191 | $ 0.6080 |
Equity and Redeemable Non-con_7
Equity and Redeemable Non-controlling Interest - Summary of Non-controlling Interest Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Redeemable Non-controlling Interest [Roll Forward] | |||
Balance at the beginning of the year | $ 750,670 | ||
Settlement of current year performance participation allocation | 817,527 | $ 1,571,607 | $ 141,396 |
GAAP income allocation | 6,602 | 1,794 | 1,606 |
Balance at the end of the year | 553,423 | 750,670 | |
Special Limited Partner | |||
Redeemable Non-controlling Interest [Roll Forward] | |||
Balance at the beginning of the year | 589,900 | 274 | |
Settlement of current year performance participation allocation | 817,527 | 1,378,959 | |
Settlement of prior year performance participation allocation | 0 | 192,648 | |
Repurchases | (26,639) | (111,949) | |
Conversion to shares and units | (599,219) | (801,645) | |
GAAP income allocation | (5,024) | (6) | |
Distributions | (10,256) | (15) | |
Fair value allocation | 13,094 | 87 | |
Balance at the end of the year | 344,145 | 589,900 | $ 274 |
Special Limited Partner | Common Class B | |||
Redeemable Non-controlling Interest [Roll Forward] | |||
Conversion to shares and units | $ (435,238) | $ (68,453) |
Leases - Schedule of Components
Leases - Schedule of Components of Operating Lease Income from Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | |||
Fixed lease payments | $ 6,152,782 | $ 2,860,344 | $ 2,031,411 |
Variable lease payments | $ 411,337 | $ 280,184 | 204,461 |
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration] | Total revenues | Total revenues | |
Rental revenue | $ 6,564,119 | $ 3,140,528 | $ 2,235,872 |
Leases - Schedule of Undiscount
Leases - Schedule of Undiscounted Future Minimum Rental Income (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Lessor, Operating Lease, Payments to be Received | |
2023 | $ 1,686,971 |
2024 | 1,597,245 |
2025 | 1,469,306 |
2026 | 1,338,977 |
2027 | 1,154,429 |
Thereafter | 16,624,401 |
Total | $ 23,871,329 |
Leases - Additional Information
Leases - Additional Information (Details) | Dec. 31, 2022 lease |
Lessee, Lease, Description [Line Items] | |
Number of ground leases under operating lease | 95 |
Number of ground leases under finance lease | 3 |
Operating lease, weighted average remaining lease term (in years) | 61 years |
Finance lease, weighted average remaining lease term (in years) | 78 years |
Operating ground lease containing variable components | 3 |
Minimum | |
Lessee, Lease, Description [Line Items] | |
Incremental borrowing rate used to determine lease liabilities | 5% |
Maximum | |
Lessee, Lease, Description [Line Items] | |
Incremental borrowing rate used to determine lease liabilities | 7% |
Leases - Schedule of Future Lea
Leases - Schedule of Future Lease Payments Due Under Ground Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Operating Leases | ||
2023 | $ 36,311 | |
2024 | 37,070 | |
2025 | 37,687 | |
2026 | 37,851 | |
2027 | 38,250 | |
Thereafter | 2,613,738 | |
Total undiscounted future lease payments | 2,800,907 | |
Difference between undiscounted cash flows and discounted cash flows | (2,162,077) | |
Total lease liability | 638,830 | $ 180,453 |
Financing Leases | ||
2023 | 4,150 | |
2024 | 4,266 | |
2025 | 4,385 | |
2026 | 4,507 | |
2027 | 4,633 | |
Thereafter | 564,142 | |
Total undiscounted future lease payments | 586,083 | |
Difference between undiscounted cash flows and discounted cash flows | (509,075) | |
Total lease liability | $ 77,008 | $ 75,730 |
Leases - Summary of Fixed and V
Leases - Summary of Fixed and Variable Components of Operating Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | |||
Fixed ground rent expense | $ 22,789 | $ 4,904 | $ 4,038 |
Variable ground rent expense | 1,042 | 36 | 18 |
Total cash portion of ground rent expense | 23,831 | 4,940 | 4,056 |
Straight-line ground rent expense | 13,552 | 7,488 | 6,737 |
Total operating lease costs | $ 37,383 | $ 12,428 | $ 10,793 |
Leases - Summary of Fixed and_2
Leases - Summary of Fixed and Variable Components of Financing Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | |||
Interest on lease liabilities | $ 4,038 | $ 3,403 | $ 2,991 |
Amortization of right-of-use assets | 1,278 | 1,139 | 991 |
Total financing lease costs | $ 5,316 | $ 4,542 | $ 3,982 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2022 segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 9 |
Segment Reporting - Summary of
Segment Reporting - Summary of Total Assets by Segment (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Segment Reporting Information [Line Items] | ||
Total assets | $ 142,687,424 | $ 106,338,864 |
Rental Housing | ||
Segment Reporting Information [Line Items] | ||
Total assets | 68,464,413 | 44,167,486 |
Industrial | ||
Segment Reporting Information [Line Items] | ||
Total assets | 21,624,736 | 20,898,801 |
Net Lease | ||
Segment Reporting Information [Line Items] | ||
Total assets | 9,011,326 | 5,219,519 |
Hospitality | ||
Segment Reporting Information [Line Items] | ||
Total assets | 3,768,473 | 3,084,271 |
Office | ||
Segment Reporting Information [Line Items] | ||
Total assets | 3,293,163 | 1,232,392 |
Data Centers | ||
Segment Reporting Information [Line Items] | ||
Total assets | 3,203,585 | 1,905,660 |
Retail | ||
Segment Reporting Information [Line Items] | ||
Total assets | 2,722,839 | 1,689,575 |
Self Storage | ||
Segment Reporting Information [Line Items] | ||
Total assets | 2,247,351 | 1,886,376 |
Investments in Real Estate Debt | ||
Segment Reporting Information [Line Items] | ||
Total assets | 25,363,546 | 24,221,005 |
Other (Corporate) | ||
Segment Reporting Information [Line Items] | ||
Total assets | $ 2,987,992 | $ 2,033,779 |
Segment Reporting - Summary o_2
Segment Reporting - Summary of Financial Results by Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues: | |||
Total revenues | $ 7,646,378 | $ 3,696,671 | $ 2,551,648 |
Expenses: | |||
Total expenses | 3,425,804 | 1,508,715 | 1,013,251 |
Income from unconsolidated entities | 182,249 | 205,980 | 88,571 |
(Loss) income from investments in real estate debt | (27,073) | 391,867 | (74,353) |
Change in net assets of consolidated securitization vehicles | (42,119) | 106,240 | (46,564) |
Loss from investments in equity securities | (476,537) | 884,259 | 66,456 |
Segment net operating income (loss) | 3,857,094 | 3,776,302 | 1,572,507 |
Depreciation and amortization | (4,098,366) | (1,919,932) | (1,362,151) |
General and administrative | (52,652) | (32,046) | (25,653) |
Management fee | (837,687) | (445,291) | (224,776) |
Performance participation allocation | (742,670) | (1,378,959) | (192,648) |
Income from equity securities and interest rate derivatives | 2,444,086 | 10,285 | (548) |
Impairment of investments in real estate | 33,554 | 0 | 12,343 |
Net gain on dispositions of real estate | 808,846 | 7,881 | 113,173 |
Interest expense | (2,325,204) | (834,852) | (712,383) |
Loss on extinguishment of debt | (11,476) | (16,331) | (10,356) |
Other expense | (88,725) | (3,221) | (12,224) |
Net loss | (1,080,308) | (836,164) | (867,402) |
Net loss attributable to non-controlling interests in third party joint ventures | 173,109 | 22,090 | 2,417 |
Net loss attributable to non-controlling interests in BREIT OP unit holders | 23,680 | 9,291 | 11,586 |
Net loss attributable to BREIT stockholders | (883,519) | (804,783) | (853,399) |
Net realized and unrealized gain (loss) on equity securities | (520,800) | 848,200 | 43,700 |
Rental Housing | |||
Revenues: | |||
Total revenues | 4,402,907 | 1,654,120 | 1,027,129 |
Expenses: | |||
Total expenses | 2,253,142 | 780,321 | 471,413 |
Income from unconsolidated entities | (79,148) | (17,461) | 0 |
(Loss) income from investments in real estate debt | 0 | 0 | 0 |
Change in net assets of consolidated securitization vehicles | 0 | 0 | 0 |
Loss from investments in equity securities | (346,773) | 640,731 | 37,679 |
Segment net operating income (loss) | 1,723,844 | 1,497,069 | 593,395 |
Depreciation and amortization | (2,617,389) | (933,418) | (544,927) |
Industrial | |||
Revenues: | |||
Total revenues | 1,399,625 | 994,550 | 816,928 |
Expenses: | |||
Total expenses | 438,479 | 306,016 | 240,792 |
Income from unconsolidated entities | 319,807 | 194,743 | 0 |
(Loss) income from investments in real estate debt | 0 | 0 | 0 |
Change in net assets of consolidated securitization vehicles | 0 | 0 | 0 |
Loss from investments in equity securities | (47,969) | 174,866 | 14,005 |
Segment net operating income (loss) | 1,232,984 | 1,058,143 | 590,141 |
Depreciation and amortization | (804,108) | (576,793) | (540,023) |
Net Lease | |||
Revenues: | |||
Total revenues | 499,789 | 331,178 | 331,178 |
Expenses: | |||
Total expenses | 1,883 | 1,331 | 701 |
Income from unconsolidated entities | 99,879 | 100,276 | 88,571 |
(Loss) income from investments in real estate debt | 0 | 0 | 0 |
Change in net assets of consolidated securitization vehicles | 0 | 0 | 0 |
Loss from investments in equity securities | 27,334 | 56,765 | 12,578 |
Segment net operating income (loss) | 625,119 | 486,888 | 431,626 |
Depreciation and amortization | (172,647) | (114,409) | (114,530) |
Data Centers | |||
Revenues: | |||
Total revenues | 44,673 | 28,586 | 23,042 |
Expenses: | |||
Total expenses | 6,943 | 4,080 | 3,039 |
Income from unconsolidated entities | (168,078) | (71,745) | 0 |
(Loss) income from investments in real estate debt | 0 | 0 | 0 |
Change in net assets of consolidated securitization vehicles | 0 | 0 | 0 |
Loss from investments in equity securities | 0 | 0 | 0 |
Segment net operating income (loss) | (130,348) | (47,239) | 20,003 |
Depreciation and amortization | (19,639) | (12,485) | (10,098) |
Hospitality | |||
Revenues: | |||
Total revenues | 734,584 | 422,625 | 255,306 |
Expenses: | |||
Total expenses | 508,868 | 316,144 | 261,472 |
Income from unconsolidated entities | 6,303 | 0 | 0 |
(Loss) income from investments in real estate debt | 0 | 0 | 0 |
Change in net assets of consolidated securitization vehicles | 0 | 0 | 0 |
Loss from investments in equity securities | 0 | 0 | 0 |
Segment net operating income (loss) | 232,019 | 106,481 | (6,166) |
Depreciation and amortization | (120,531) | (93,911) | (90,820) |
Self Storage | |||
Revenues: | |||
Total revenues | 228,120 | 152,462 | 25,950 |
Expenses: | |||
Total expenses | 106,641 | 67,554 | 12,753 |
Income from unconsolidated entities | 0 | 0 | 0 |
(Loss) income from investments in real estate debt | 0 | 0 | 0 |
Change in net assets of consolidated securitization vehicles | 0 | 0 | 0 |
Loss from investments in equity securities | 0 | 0 | 0 |
Segment net operating income (loss) | 121,479 | 84,908 | 13,197 |
Depreciation and amortization | (125,307) | (137,872) | (19,484) |
Retail | |||
Revenues: | |||
Total revenues | 190,327 | 66,236 | 55,245 |
Expenses: | |||
Total expenses | 69,614 | 20,712 | 17,541 |
Income from unconsolidated entities | (1,007) | 167 | 0 |
(Loss) income from investments in real estate debt | 0 | 0 | 0 |
Change in net assets of consolidated securitization vehicles | 0 | 0 | 0 |
Loss from investments in equity securities | 0 | 0 | 0 |
Segment net operating income (loss) | 119,706 | 45,691 | 37,704 |
Depreciation and amortization | (168,024) | (28,917) | (32,528) |
Office | |||
Revenues: | |||
Total revenues | 146,353 | 46,914 | 16,870 |
Expenses: | |||
Total expenses | 40,234 | 12,557 | 5,540 |
Income from unconsolidated entities | 4,493 | 0 | 0 |
(Loss) income from investments in real estate debt | 0 | 0 | 0 |
Change in net assets of consolidated securitization vehicles | 0 | 0 | 0 |
Loss from investments in equity securities | (109,129) | 11,897 | 2,194 |
Segment net operating income (loss) | 1,483 | 46,254 | 13,524 |
Depreciation and amortization | (70,721) | (22,127) | (9,741) |
Investments in Real Estate Debt | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Income from unconsolidated entities | 0 | 0 | 0 |
(Loss) income from investments in real estate debt | (27,073) | 391,867 | (74,353) |
Loss from investments in equity securities | 0 | 0 | 0 |
Segment net operating income (loss) | (69,192) | 498,107 | (120,917) |
Depreciation and amortization | 0 | 0 | 0 |
Rental revenue | |||
Revenues: | |||
Total revenues | 6,564,119 | 3,140,528 | 2,235,872 |
Expenses: | |||
Total expenses | 2,916,936 | 1,192,571 | 751,779 |
Rental revenue | Rental Housing | |||
Revenues: | |||
Total revenues | 4,116,088 | 1,544,909 | 976,873 |
Expenses: | |||
Total expenses | 2,253,142 | 780,321 | 471,413 |
Rental revenue | Industrial | |||
Revenues: | |||
Total revenues | 1,364,640 | 982,137 | 811,490 |
Expenses: | |||
Total expenses | 438,479 | 306,016 | 240,792 |
Rental revenue | Net Lease | |||
Revenues: | |||
Total revenues | 499,789 | 331,178 | 331,178 |
Expenses: | |||
Total expenses | 1,883 | 1,331 | 701 |
Rental revenue | Data Centers | |||
Revenues: | |||
Total revenues | 44,673 | 28,586 | 23,042 |
Expenses: | |||
Total expenses | 6,943 | 4,080 | 3,039 |
Rental revenue | Hospitality | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Rental revenue | Self Storage | |||
Revenues: | |||
Total revenues | 213,633 | 143,069 | 22,874 |
Expenses: | |||
Total expenses | 106,641 | 67,554 | 12,753 |
Rental revenue | Retail | |||
Revenues: | |||
Total revenues | 187,055 | 64,079 | 54,047 |
Expenses: | |||
Total expenses | 69,614 | 20,712 | 17,541 |
Rental revenue | Office | |||
Revenues: | |||
Total revenues | 138,241 | 46,570 | 16,368 |
Expenses: | |||
Total expenses | 40,234 | 12,557 | 5,540 |
Rental revenue | Investments in Real Estate Debt | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Hospitality | |||
Revenues: | |||
Total revenues | 721,654 | 412,338 | 248,909 |
Expenses: | |||
Total expenses | 508,868 | 316,144 | 261,472 |
Hospitality | Rental Housing | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Hospitality | Industrial | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Hospitality | Net Lease | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Hospitality | Data Centers | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Hospitality | Hospitality | |||
Revenues: | |||
Total revenues | 721,654 | 412,338 | 248,909 |
Expenses: | |||
Total expenses | 508,868 | 316,144 | 261,472 |
Hospitality | Self Storage | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Hospitality | Retail | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Hospitality | Office | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Hospitality | Investments in Real Estate Debt | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Total expenses | 0 | 0 | 0 |
Other revenue | |||
Revenues: | |||
Total revenues | 360,605 | 143,805 | 66,867 |
Other revenue | Rental Housing | |||
Revenues: | |||
Total revenues | 286,819 | 109,211 | 50,256 |
Other revenue | Industrial | |||
Revenues: | |||
Total revenues | 34,985 | 12,413 | 5,438 |
Other revenue | Net Lease | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Other revenue | Data Centers | |||
Revenues: | |||
Total revenues | 0 | 0 | 0 |
Other revenue | Hospitality | |||
Revenues: | |||
Total revenues | 12,930 | 10,287 | 6,397 |
Other revenue | Self Storage | |||
Revenues: | |||
Total revenues | 14,487 | 9,393 | 3,076 |
Other revenue | Retail | |||
Revenues: | |||
Total revenues | 3,272 | 2,157 | 1,198 |
Other revenue | Office | |||
Revenues: | |||
Total revenues | 8,112 | 344 | 502 |
Other revenue | Investments in Real Estate Debt | |||
Revenues: | |||
Total revenues | $ 0 | $ 0 | $ 0 |
Subsequent Events - (Details)
Subsequent Events - (Details) - USD ($) $ in Thousands, shares in Millions | Jan. 09, 2023 | Jan. 01, 2023 | Jan. 31, 2028 | Dec. 31, 2022 | Dec. 31, 2021 |
MGM Grand & Mandalay Bay | |||||
Subsequent Event [Line Items] | |||||
Ownership Interest | 49.90% | 49.90% | |||
UC Investments | Forecast | |||||
Subsequent Event [Line Items] | |||||
Option to repurchase, period | 2 years | ||||
Minimum average hold | 6 years | ||||
Subsequent Event | Class I | UC Investments | Private Placement | |||||
Subsequent Event [Line Items] | |||||
Strategic venture, shares purchased (in shares) | 268.9 | ||||
Strategic venture, shares purchased, value | $ 4,000,000 | ||||
Subsequent Event | MGM Grand & Mandalay Bay | |||||
Subsequent Event [Line Items] | |||||
Ownership Interest | 49.90% | ||||
Proceeds from sale of investment | $ 1,300,000 | ||||
Gain on sale | $ 430,400 | ||||
Subsequent Event | UC Investments | |||||
Subsequent Event [Line Items] | |||||
Payments to acquire strategic venture | $ 1,000,000 | ||||
Total annualized return | 11.25% | ||||
Cash payment received on investment returns | 5% |
Real Estate and Accumulated D_2
Real Estate and Accumulated Depreciation Schedule III - Schedule of Real Estate and Accumulated Depreciation (Details) $ in Thousands | Dec. 31, 2022 USD ($) segment | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 20,632 | ||
Encumbrances | $ 61,665,422 | ||
Initial Cost, Land and Land Improvements | 18,462,052 | ||
Initial Cost, Building and Building Improvements | 80,619,698 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 173,621 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,295,102 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 18,635,672 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 81,914,789 | ||
Total | 100,550,461 | ||
Accumulated Depreciation | $ (5,365,285) | $ (2,916,615) | $ (1,693,196) |
Rental Housing Properties: | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 19,180 | ||
Encumbrances | $ 37,640,345 | ||
Initial Cost, Land and Land Improvements | 11,064,723 | ||
Initial Cost, Building and Building Improvements | 51,615,850 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 109,066 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 568,935 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,173,788 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 52,184,776 | ||
Total | 63,358,564 | ||
Accumulated Depreciation | $ (2,733,746) | ||
Rental Housing Properties: | Multifamily Properties | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 37 | ||
Encumbrances | $ 2,058,718 | ||
Initial Cost, Land and Land Improvements | 467,575 | ||
Initial Cost, Building and Building Improvements | 2,758,164 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4,261 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 32,067 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 471,836 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,790,231 | ||
Total | 3,262,067 | ||
Accumulated Depreciation | $ (188,108) | ||
Rental Housing Properties: | Multifamily Properties | Austin, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 42 | ||
Encumbrances | $ 2,044,681 | ||
Initial Cost, Land and Land Improvements | 458,844 | ||
Initial Cost, Building and Building Improvements | 2,677,279 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 8,290 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 24,585 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 467,134 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,701,864 | ||
Total | 3,168,998 | ||
Accumulated Depreciation | $ (182,598) | ||
Rental Housing Properties: | Multifamily Properties | Beaumont, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 18,717 | ||
Initial Cost, Land and Land Improvements | 4,476 | ||
Initial Cost, Building and Building Improvements | 42,119 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 14 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,476 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 42,134 | ||
Total | 46,610 | ||
Accumulated Depreciation | $ (777) | ||
Rental Housing Properties: | Multifamily Properties | Birmingham AL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 74,424 | ||
Initial Cost, Land and Land Improvements | 13,959 | ||
Initial Cost, Building and Building Improvements | 162,873 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 24 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 13,959 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 162,897 | ||
Total | 176,856 | ||
Accumulated Depreciation | $ (3,104) | ||
Rental Housing Properties: | Multifamily Properties | Boston, MA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 348,937 | ||
Initial Cost, Land and Land Improvements | 130,391 | ||
Initial Cost, Building and Building Improvements | 593,010 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 393 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,180 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 130,784 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 599,190 | ||
Total | 729,974 | ||
Accumulated Depreciation | $ (31,743) | ||
Rental Housing Properties: | Multifamily Properties | Boulder, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 49,528 | ||
Initial Cost, Land and Land Improvements | 11,045 | ||
Initial Cost, Building and Building Improvements | 98,486 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 19 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 118 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,064 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 98,603 | ||
Total | 109,667 | ||
Accumulated Depreciation | $ (2,261) | ||
Rental Housing Properties: | Multifamily Properties | Charleston, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 50,114 | ||
Initial Cost, Land and Land Improvements | 12,861 | ||
Initial Cost, Building and Building Improvements | 83,365 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 332 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 598 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 13,193 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 83,963 | ||
Total | 97,156 | ||
Accumulated Depreciation | $ (6,969) | ||
Rental Housing Properties: | Multifamily Properties | Charlotte, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 21 | ||
Encumbrances | $ 887,302 | ||
Initial Cost, Land and Land Improvements | 189,737 | ||
Initial Cost, Building and Building Improvements | 1,193,440 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3,382 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 12,007 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 193,119 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,205,447 | ||
Total | 1,398,566 | ||
Accumulated Depreciation | $ (85,436) | ||
Rental Housing Properties: | Multifamily Properties | Chicago, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 64,708 | ||
Initial Cost, Land and Land Improvements | 18,924 | ||
Initial Cost, Building and Building Improvements | 100,248 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 714 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,775 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,639 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 103,023 | ||
Total | 122,662 | ||
Accumulated Depreciation | $ (10,855) | ||
Rental Housing Properties: | Multifamily Properties | Columbus, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 211,359 | ||
Initial Cost, Land and Land Improvements | 37,489 | ||
Initial Cost, Building and Building Improvements | 193,939 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 405 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,260 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 37,894 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 196,199 | ||
Total | 234,093 | ||
Accumulated Depreciation | $ (18,334) | ||
Rental Housing Properties: | Multifamily Properties | Dayton, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 10,955 | ||
Initial Cost, Land and Land Improvements | 1,743 | ||
Initial Cost, Building and Building Improvements | 21,803 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 82 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,743 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,884 | ||
Total | 23,627 | ||
Accumulated Depreciation | $ (499) | ||
Rental Housing Properties: | Multifamily Properties | Denver, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 14 | ||
Encumbrances | $ 843,967 | ||
Initial Cost, Land and Land Improvements | 158,744 | ||
Initial Cost, Building and Building Improvements | 1,169,549 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3,419 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 17,231 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 162,164 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,186,780 | ||
Total | 1,348,944 | ||
Accumulated Depreciation | $ (90,685) | ||
Rental Housing Properties: | Multifamily Properties | Durham, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 109,375 | ||
Initial Cost, Land and Land Improvements | 33,708 | ||
Initial Cost, Building and Building Improvements | 171,592 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 219 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 453 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 33,927 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 172,045 | ||
Total | 205,972 | ||
Accumulated Depreciation | $ (12,340) | ||
Rental Housing Properties: | Multifamily Properties | Fort Collins, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 91,341 | ||
Initial Cost, Land and Land Improvements | 11,543 | ||
Initial Cost, Building and Building Improvements | 108,985 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 410 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,524 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,953 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 110,509 | ||
Total | 122,462 | ||
Accumulated Depreciation | $ (14,523) | ||
Rental Housing Properties: | Multifamily Properties | Greenville, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 62,654 | ||
Initial Cost, Land and Land Improvements | 13,203 | ||
Initial Cost, Building and Building Improvements | 67,595 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 281 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 823 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 13,484 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 68,418 | ||
Total | 81,902 | ||
Accumulated Depreciation | $ (3,331) | ||
Rental Housing Properties: | Multifamily Properties | Houston, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 195,946 | ||
Initial Cost, Land and Land Improvements | 58,668 | ||
Initial Cost, Building and Building Improvements | 309,857 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 409 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,092 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 59,077 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 310,949 | ||
Total | 370,026 | ||
Accumulated Depreciation | $ (10,230) | ||
Rental Housing Properties: | Multifamily Properties | Jacksonville, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 14 | ||
Encumbrances | $ 530,816 | ||
Initial Cost, Land and Land Improvements | 132,402 | ||
Initial Cost, Building and Building Improvements | 931,741 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2,085 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9,490 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 134,487 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 941,231 | ||
Total | 1,075,718 | ||
Accumulated Depreciation | $ (61,102) | ||
Rental Housing Properties: | Multifamily Properties | Kansas City, MO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 118,304 | ||
Initial Cost, Land and Land Improvements | 20,906 | ||
Initial Cost, Building and Building Improvements | 155,705 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 164 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 524 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,070 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 156,229 | ||
Total | 177,299 | ||
Accumulated Depreciation | $ (9,687) | ||
Rental Housing Properties: | Multifamily Properties | Lakeland, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 112,716 | ||
Initial Cost, Land and Land Improvements | 19,475 | ||
Initial Cost, Building and Building Improvements | 123,539 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 288 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,308 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,763 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 125,847 | ||
Total | 145,610 | ||
Accumulated Depreciation | $ (8,794) | ||
Rental Housing Properties: | Multifamily Properties | Las Vegas, NV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 25 | ||
Encumbrances | $ 1,407,180 | ||
Initial Cost, Land and Land Improvements | 322,064 | ||
Initial Cost, Building and Building Improvements | 1,605,185 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5,218 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 16,931 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 327,282 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,622,116 | ||
Total | 1,949,398 | ||
Accumulated Depreciation | $ (200,578) | ||
Rental Housing Properties: | Multifamily Properties | Los Angeles, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 51,108 | ||
Initial Cost, Land and Land Improvements | 10,795 | ||
Initial Cost, Building and Building Improvements | 44,758 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 90 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 170 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,885 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 44,928 | ||
Total | 55,813 | ||
Accumulated Depreciation | $ (6,147) | ||
Rental Housing Properties: | Multifamily Properties | Louisville, KY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 76,300 | ||
Initial Cost, Land and Land Improvements | 12,381 | ||
Initial Cost, Building and Building Improvements | 106,946 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 817 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,118 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 13,198 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 109,064 | ||
Total | 122,262 | ||
Accumulated Depreciation | $ (11,185) | ||
Rental Housing Properties: | Multifamily Properties | Miami, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 8 | ||
Encumbrances | $ 672,666 | ||
Initial Cost, Land and Land Improvements | 167,319 | ||
Initial Cost, Building and Building Improvements | 728,244 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2,593 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 13,400 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 169,912 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 741,645 | ||
Total | 911,557 | ||
Accumulated Depreciation | $ (76,768) | ||
Rental Housing Properties: | Multifamily Properties | Minneapolis, MN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 97,317 | ||
Initial Cost, Land and Land Improvements | 28,928 | ||
Initial Cost, Building and Building Improvements | 161,038 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 102 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 505 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 29,030 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 161,542 | ||
Total | 190,572 | ||
Accumulated Depreciation | $ (4,270) | ||
Rental Housing Properties: | Multifamily Properties | Modesto, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 48,222 | ||
Initial Cost, Land and Land Improvements | 5,006 | ||
Initial Cost, Building and Building Improvements | 68,782 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 467 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,839 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,473 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 70,621 | ||
Total | 76,094 | ||
Accumulated Depreciation | $ (12,604) | ||
Rental Housing Properties: | Multifamily Properties | Naples, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 49,974 | ||
Initial Cost, Land and Land Improvements | 14,247 | ||
Initial Cost, Building and Building Improvements | 106,176 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 203 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,247 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 106,379 | ||
Total | 120,626 | ||
Accumulated Depreciation | $ (1,971) | ||
Rental Housing Properties: | Multifamily Properties | Nashville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 7 | ||
Encumbrances | $ 293,377 | ||
Initial Cost, Land and Land Improvements | 49,673 | ||
Initial Cost, Building and Building Improvements | 434,061 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 218 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,796 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 49,891 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 435,857 | ||
Total | 485,748 | ||
Accumulated Depreciation | $ (20,498) | ||
Rental Housing Properties: | Multifamily Properties | New York, NY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 569,603 | ||
Initial Cost, Land and Land Improvements | 203,518 | ||
Initial Cost, Building and Building Improvements | 609,621 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 810 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 203,518 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 610,431 | ||
Total | 813,949 | ||
Accumulated Depreciation | $ (11,073) | ||
Rental Housing Properties: | Multifamily Properties | North Port, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 119,812 | ||
Initial Cost, Land and Land Improvements | 28,937 | ||
Initial Cost, Building and Building Improvements | 280,044 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 64 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 504 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 29,001 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 280,548 | ||
Total | 309,549 | ||
Accumulated Depreciation | $ (7,286) | ||
Rental Housing Properties: | Multifamily Properties | Olympia, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 77,328 | ||
Initial Cost, Land and Land Improvements | 20,455 | ||
Initial Cost, Building and Building Improvements | 84,588 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 696 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,434 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,152 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 89,022 | ||
Total | 110,174 | ||
Accumulated Depreciation | $ (18,357) | ||
Rental Housing Properties: | Multifamily Properties | Orlando, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 21 | ||
Encumbrances | $ 1,123,018 | ||
Initial Cost, Land and Land Improvements | 244,748 | ||
Initial Cost, Building and Building Improvements | 1,568,305 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 10,519 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 15,787 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 255,267 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,584,092 | ||
Total | 1,839,359 | ||
Accumulated Depreciation | $ (124,555) | ||
Rental Housing Properties: | Multifamily Properties | Palm Bay, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 33,836 | ||
Initial Cost, Land and Land Improvements | 9,819 | ||
Initial Cost, Building and Building Improvements | 78,096 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 52 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,819 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 78,148 | ||
Total | 87,967 | ||
Accumulated Depreciation | $ (1,445) | ||
Rental Housing Properties: | Multifamily Properties | Panama City, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 44,502 | ||
Initial Cost, Land and Land Improvements | 8,090 | ||
Initial Cost, Building and Building Improvements | 78,217 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 52 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,090 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 78,269 | ||
Total | 86,359 | ||
Accumulated Depreciation | $ (1,512) | ||
Rental Housing Properties: | Multifamily Properties | Philadelphia, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 10,369 | ||
Initial Cost, Land and Land Improvements | 4,685 | ||
Initial Cost, Building and Building Improvements | 22,635 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 171 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,685 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 22,806 | ||
Total | 27,491 | ||
Accumulated Depreciation | $ (525) | ||
Rental Housing Properties: | Multifamily Properties | Phoenix, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 23 | ||
Encumbrances | $ 1,289,725 | ||
Initial Cost, Land and Land Improvements | 327,650 | ||
Initial Cost, Building and Building Improvements | 1,595,637 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4,308 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 24,790 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 331,959 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,620,427 | ||
Total | 1,952,386 | ||
Accumulated Depreciation | $ (162,209) | ||
Rental Housing Properties: | Multifamily Properties | Pittsburgh, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 31,373 | ||
Initial Cost, Land and Land Improvements | 6,655 | ||
Initial Cost, Building and Building Improvements | 58,150 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 39 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,655 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 58,189 | ||
Total | 64,844 | ||
Accumulated Depreciation | $ (1,124) | ||
Rental Housing Properties: | Multifamily Properties | Portland, OR | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 7 | ||
Encumbrances | $ 307,363 | ||
Initial Cost, Land and Land Improvements | 83,713 | ||
Initial Cost, Building and Building Improvements | 383,331 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 550 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,569 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 84,263 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 387,900 | ||
Total | 472,163 | ||
Accumulated Depreciation | $ (40,707) | ||
Rental Housing Properties: | Multifamily Properties | Raleigh, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 9 | ||
Encumbrances | $ 489,045 | ||
Initial Cost, Land and Land Improvements | 74,447 | ||
Initial Cost, Building and Building Improvements | 587,437 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,028 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,570 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 75,474 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 592,007 | ||
Total | 667,481 | ||
Accumulated Depreciation | $ (43,378) | ||
Rental Housing Properties: | Multifamily Properties | Richmond, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 30,018 | ||
Initial Cost, Land and Land Improvements | 9,632 | ||
Initial Cost, Building and Building Improvements | 66,074 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 62 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,632 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 66,136 | ||
Total | 75,768 | ||
Accumulated Depreciation | $ (1,265) | ||
Rental Housing Properties: | Multifamily Properties | Riverside, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 280,471 | ||
Initial Cost, Land and Land Improvements | 52,051 | ||
Initial Cost, Building and Building Improvements | 396,110 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,086 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9,261 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 53,137 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 405,371 | ||
Total | 458,508 | ||
Accumulated Depreciation | $ (47,729) | ||
Rental Housing Properties: | Multifamily Properties | Sacramento, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 121,672 | ||
Initial Cost, Land and Land Improvements | 22,383 | ||
Initial Cost, Building and Building Improvements | 153,733 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 694 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,276 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 23,076 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 158,009 | ||
Total | 181,085 | ||
Accumulated Depreciation | $ (27,704) | ||
Rental Housing Properties: | Multifamily Properties | San Antonio, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 122,966 | ||
Initial Cost, Land and Land Improvements | 19,005 | ||
Initial Cost, Building and Building Improvements | 134,959 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 716 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,244 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,721 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 137,202 | ||
Total | 156,923 | ||
Accumulated Depreciation | $ (15,259) | ||
Rental Housing Properties: | Multifamily Properties | San Diego, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 36,301 | ||
Initial Cost, Land and Land Improvements | 33,055 | ||
Initial Cost, Building and Building Improvements | 71,972 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 52 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 313 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 33,106 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 72,284 | ||
Total | 105,390 | ||
Accumulated Depreciation | $ (1,710) | ||
Rental Housing Properties: | Multifamily Properties | Savannah, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 29,734 | ||
Initial Cost, Land and Land Improvements | 5,613 | ||
Initial Cost, Building and Building Improvements | 35,434 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 160 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 17 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,773 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 35,451 | ||
Total | 41,224 | ||
Accumulated Depreciation | $ (5,430) | ||
Rental Housing Properties: | Multifamily Properties | Seattle, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 210,208 | ||
Initial Cost, Land and Land Improvements | 49,100 | ||
Initial Cost, Building and Building Improvements | 271,348 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 933 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,833 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 50,033 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 276,181 | ||
Total | 326,214 | ||
Accumulated Depreciation | $ (23,746) | ||
Rental Housing Properties: | Multifamily Properties | Stockton, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 79,001 | ||
Initial Cost, Land and Land Improvements | 22,811 | ||
Initial Cost, Building and Building Improvements | 116,339 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 32 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 22,811 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 116,370 | ||
Total | 139,181 | ||
Accumulated Depreciation | $ (1,628) | ||
Rental Housing Properties: | Multifamily Properties | Tampa, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 17 | ||
Encumbrances | $ 732,208 | ||
Initial Cost, Land and Land Improvements | 169,210 | ||
Initial Cost, Building and Building Improvements | 1,209,156 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,935 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,747 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 171,145 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,215,903 | ||
Total | 1,387,048 | ||
Accumulated Depreciation | $ (58,849) | ||
Rental Housing Properties: | Multifamily Properties | Urban Honolulu, HI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 17,904 | ||
Initial Cost, Land and Land Improvements | 95,193 | ||
Initial Cost, Building and Building Improvements | 550,923 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,059 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 5,963 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 96,253 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 556,886 | ||
Total | 653,139 | ||
Accumulated Depreciation | $ (28,436) | ||
Rental Housing Properties: | Multifamily Properties | Virginia Beach, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 28,417 | ||
Initial Cost, Land and Land Improvements | 10,115 | ||
Initial Cost, Building and Building Improvements | 64,927 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 67 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,115 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 64,994 | ||
Total | 75,109 | ||
Accumulated Depreciation | $ (1,276) | ||
Rental Housing Properties: | Multifamily Properties | Washington DC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 80,900 | ||
Initial Cost, Land and Land Improvements | 19,600 | ||
Initial Cost, Building and Building Improvements | 97,949 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 30 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 172 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,629 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 98,120 | ||
Total | 117,749 | ||
Accumulated Depreciation | $ (1,937) | ||
Rental Housing Properties: | Multifamily Properties | Wilmington, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 1,717 | ||
Initial Cost, Building and Building Improvements | 8,239 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 13,091 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,717 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,330 | ||
Total | 23,047 | ||
Accumulated Depreciation | $ 0 | ||
Rental Housing Properties: | Manufactured Housing | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 15,334 | ||
Initial Cost, Land and Land Improvements | 35,491 | ||
Initial Cost, Building and Building Improvements | 1,760 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,331 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 74 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 36,822 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,834 | ||
Total | 38,656 | ||
Accumulated Depreciation | $ (3,439) | ||
Rental Housing Properties: | Manufactured Housing | Lakeland, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 20,662 | ||
Initial Cost, Land and Land Improvements | 30,698 | ||
Initial Cost, Building and Building Improvements | 754 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,093 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 538 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 31,791 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,292 | ||
Total | 33,083 | ||
Accumulated Depreciation | $ (2,297) | ||
Rental Housing Properties: | Manufactured Housing | Los Angeles, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,350 | ||
Initial Cost, Land and Land Improvements | 14,621 | ||
Initial Cost, Building and Building Improvements | 767 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 28 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 448 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,649 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,215 | ||
Total | 15,864 | ||
Accumulated Depreciation | $ (614) | ||
Rental Housing Properties: | Manufactured Housing | Miami, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 82,188 | ||
Initial Cost, Land and Land Improvements | 132,039 | ||
Initial Cost, Building and Building Improvements | 2,032 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 997 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,543 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 133,037 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,575 | ||
Total | 136,612 | ||
Accumulated Depreciation | $ (4,149) | ||
Rental Housing Properties: | Manufactured Housing | Naples, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 3,664 | ||
Initial Cost, Building and Building Improvements | 383 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 409 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,615 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,073 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,999 | ||
Total | 6,072 | ||
Accumulated Depreciation | $ (436) | ||
Rental Housing Properties: | Manufactured Housing | Orlando, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 7 | ||
Encumbrances | $ 66,481 | ||
Initial Cost, Land and Land Improvements | 173,086 | ||
Initial Cost, Building and Building Improvements | 9,799 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5,677 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,838 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 178,764 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,637 | ||
Total | 192,401 | ||
Accumulated Depreciation | $ (9,346) | ||
Rental Housing Properties: | Manufactured Housing | Palm Bay, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 19,289 | ||
Initial Cost, Land and Land Improvements | 32,460 | ||
Initial Cost, Building and Building Improvements | 1,216 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 257 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 32,717 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,219 | ||
Total | 33,936 | ||
Accumulated Depreciation | $ (1,596) | ||
Rental Housing Properties: | Manufactured Housing | Phoenix, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 26 | ||
Encumbrances | $ 196,925 | ||
Initial Cost, Land and Land Improvements | 287,904 | ||
Initial Cost, Building and Building Improvements | 12,313 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 6,913 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,816 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 294,817 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,129 | ||
Total | 309,946 | ||
Accumulated Depreciation | $ (35,103) | ||
Rental Housing Properties: | Manufactured Housing | Riverside, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 18,971 | ||
Initial Cost, Land and Land Improvements | 22,443 | ||
Initial Cost, Building and Building Improvements | 900 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 928 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 130 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 23,371 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,030 | ||
Total | 24,401 | ||
Accumulated Depreciation | $ (3,777) | ||
Rental Housing Properties: | Manufactured Housing | San Diego, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,190 | ||
Initial Cost, Land and Land Improvements | 6,236 | ||
Initial Cost, Building and Building Improvements | 309 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 246 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 20 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,482 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 330 | ||
Total | 6,812 | ||
Accumulated Depreciation | $ (927) | ||
Rental Housing Properties: | Manufactured Housing | Seattle, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 14,593 | ||
Initial Cost, Land and Land Improvements | 23,000 | ||
Initial Cost, Building and Building Improvements | 907 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 249 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 79 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 23,249 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 985 | ||
Total | 24,234 | ||
Accumulated Depreciation | $ (1,249) | ||
Rental Housing Properties: | Manufactured Housing | Tampa, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 47,820 | ||
Initial Cost, Land and Land Improvements | 84,650 | ||
Initial Cost, Building and Building Improvements | 4,077 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,117 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 489 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 85,767 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,566 | ||
Total | 90,333 | ||
Accumulated Depreciation | $ (5,581) | ||
Rental Housing Properties: | Manufactured Housing | Arcadia, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 23,217 | ||
Initial Cost, Land and Land Improvements | 28,688 | ||
Initial Cost, Building and Building Improvements | 8,264 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 519 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,252 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 29,207 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,516 | ||
Total | 39,723 | ||
Accumulated Depreciation | $ (2,305) | ||
Rental Housing Properties: | Manufactured Housing | Cape Coral, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 9,036 | ||
Initial Cost, Building and Building Improvements | 1,044 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2,901 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 117 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,938 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,160 | ||
Total | 13,098 | ||
Accumulated Depreciation | $ (470) | ||
Rental Housing Properties: | Manufactured Housing | Cincinnati, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 23,381 | ||
Initial Cost, Land and Land Improvements | 33,479 | ||
Initial Cost, Building and Building Improvements | 2,999 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 80 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 13 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 33,559 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,012 | ||
Total | 36,571 | ||
Accumulated Depreciation | $ (4,199) | ||
Rental Housing Properties: | Manufactured Housing | Clewiston, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 24,315 | ||
Initial Cost, Land and Land Improvements | 38,593 | ||
Initial Cost, Building and Building Improvements | 1,693 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 389 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 294 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 38,982 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,987 | ||
Total | 40,969 | ||
Accumulated Depreciation | $ (2,726) | ||
Rental Housing Properties: | Manufactured Housing | Gainesville, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 8,755 | ||
Initial Cost, Building and Building Improvements | 1,524 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 46 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 571 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,800 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,095 | ||
Total | 10,895 | ||
Accumulated Depreciation | $ (410) | ||
Rental Housing Properties: | Manufactured Housing | Prescott Valley, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 8,815 | ||
Initial Cost, Land and Land Improvements | 10,329 | ||
Initial Cost, Building and Building Improvements | 785 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 394 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 74 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,723 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 859 | ||
Total | 11,582 | ||
Accumulated Depreciation | $ (1,666) | ||
Rental Housing Properties: | Manufactured Housing | Santa Rosa, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 25,387 | ||
Initial Cost, Land and Land Improvements | 21,030 | ||
Initial Cost, Building and Building Improvements | 2,244 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 180 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 269 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,210 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,512 | ||
Total | 23,722 | ||
Accumulated Depreciation | $ (1,620) | ||
Rental Housing Properties: | Manufactured Housing | Sebastian, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 11,756 | ||
Initial Cost, Land and Land Improvements | 19,117 | ||
Initial Cost, Building and Building Improvements | 983 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 402 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 688 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,519 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,671 | ||
Total | 21,190 | ||
Accumulated Depreciation | $ (1,348) | ||
Rental Housing Properties: | Manufactured Housing | The Villages, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 8,799 | ||
Initial Cost, Land and Land Improvements | 9,036 | ||
Initial Cost, Building and Building Improvements | 4,931 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,259 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 348 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,294 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,279 | ||
Total | 15,573 | ||
Accumulated Depreciation | $ (1,531) | ||
Rental Housing Properties: | Manufactured Housing | Tucson, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 9,820 | ||
Initial Cost, Land and Land Improvements | 12,620 | ||
Initial Cost, Building and Building Improvements | 1,838 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 69 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,314 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,689 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,151 | ||
Total | 15,840 | ||
Accumulated Depreciation | $ (812) | ||
Rental Housing Properties: | Student Housing | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 316,900 | ||
Initial Cost, Land and Land Improvements | 42,495 | ||
Initial Cost, Building and Building Improvements | 397,123 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 57 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,750 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 42,552 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 398,873 | ||
Total | 441,425 | ||
Accumulated Depreciation | $ (11,516) | ||
Rental Housing Properties: | Student Housing | Austin, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 18 | ||
Encumbrances | $ 605,264 | ||
Initial Cost, Land and Land Improvements | 246,939 | ||
Initial Cost, Building and Building Improvements | 1,080,811 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 5,546 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 246,939 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,086,357 | ||
Total | 1,333,296 | ||
Accumulated Depreciation | $ (12,749) | ||
Rental Housing Properties: | Student Housing | Boston, MA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 135,477 | ||
Initial Cost, Land and Land Improvements | 14,260 | ||
Initial Cost, Building and Building Improvements | 259,361 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,356 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,260 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 260,717 | ||
Total | 274,977 | ||
Accumulated Depreciation | $ (2,933) | ||
Rental Housing Properties: | Student Housing | Boulder, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 201,363 | ||
Initial Cost, Land and Land Improvements | 56,834 | ||
Initial Cost, Building and Building Improvements | 282,737 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 59 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,430 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 56,892 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 286,167 | ||
Total | 343,059 | ||
Accumulated Depreciation | $ (13,740) | ||
Rental Housing Properties: | Student Housing | Charlotte, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 103,080 | ||
Initial Cost, Land and Land Improvements | 21,003 | ||
Initial Cost, Building and Building Improvements | 121,273 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 754 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,003 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 122,027 | ||
Total | 143,030 | ||
Accumulated Depreciation | $ (1,406) | ||
Rental Housing Properties: | Student Housing | Columbus, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 0 | ||
Initial Cost, Building and Building Improvements | 244 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 244 | ||
Total | 244 | ||
Accumulated Depreciation | $ 0 | ||
Rental Housing Properties: | Student Housing | Fort Collins, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 137,400 | ||
Initial Cost, Land and Land Improvements | 11,297 | ||
Initial Cost, Building and Building Improvements | 181,443 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 22 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 123 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,319 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 181,566 | ||
Total | 192,885 | ||
Accumulated Depreciation | $ (4,770) | ||
Rental Housing Properties: | Student Housing | Greenville, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 35,756 | ||
Initial Cost, Land and Land Improvements | 855 | ||
Initial Cost, Building and Building Improvements | 62,239 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 66 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 855 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 62,306 | ||
Total | 63,161 | ||
Accumulated Depreciation | $ (672) | ||
Rental Housing Properties: | Student Housing | Houston, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 63,972 | ||
Initial Cost, Land and Land Improvements | 1,824 | ||
Initial Cost, Building and Building Improvements | 58,724 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 719 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,824 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 59,443 | ||
Total | 61,267 | ||
Accumulated Depreciation | $ (3,953) | ||
Rental Housing Properties: | Student Housing | Los Angeles, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 58,341 | ||
Initial Cost, Land and Land Improvements | 783 | ||
Initial Cost, Building and Building Improvements | 118,187 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 14 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 783 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 118,201 | ||
Total | 118,984 | ||
Accumulated Depreciation | $ (1,283) | ||
Rental Housing Properties: | Student Housing | Louisville, KY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 145,516 | ||
Initial Cost, Land and Land Improvements | 36,787 | ||
Initial Cost, Building and Building Improvements | 178,455 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 236 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,487 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 37,022 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 179,941 | ||
Total | 216,963 | ||
Accumulated Depreciation | $ (6,512) | ||
Rental Housing Properties: | Student Housing | Minneapolis, MN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 51,689 | ||
Initial Cost, Land and Land Improvements | 14,945 | ||
Initial Cost, Building and Building Improvements | 75,754 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 934 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,945 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 76,687 | ||
Total | 91,632 | ||
Accumulated Depreciation | $ (900) | ||
Rental Housing Properties: | Student Housing | Nashville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 11,700 | ||
Initial Cost, Building and Building Improvements | 614 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,700 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 614 | ||
Total | 12,314 | ||
Accumulated Depreciation | $ 0 | ||
Rental Housing Properties: | Student Housing | New York, NY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 43,809 | ||
Initial Cost, Land and Land Improvements | 203 | ||
Initial Cost, Building and Building Improvements | 53,571 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 88 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 203 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 53,659 | ||
Total | 53,862 | ||
Accumulated Depreciation | $ (565) | ||
Rental Housing Properties: | Student Housing | Orlando, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 7 | ||
Encumbrances | $ 770,433 | ||
Initial Cost, Land and Land Improvements | 112,999 | ||
Initial Cost, Building and Building Improvements | 1,205,032 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 150 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 28,204 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 113,149 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,233,236 | ||
Total | 1,346,385 | ||
Accumulated Depreciation | $ (24,336) | ||
Rental Housing Properties: | Student Housing | Philadelphia, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 518,723 | ||
Initial Cost, Land and Land Improvements | 620 | ||
Initial Cost, Building and Building Improvements | 756,335 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 625 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 620 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 756,959 | ||
Total | 757,579 | ||
Accumulated Depreciation | $ (9,184) | ||
Rental Housing Properties: | Student Housing | Phoenix, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 10 | ||
Encumbrances | $ 779,757 | ||
Initial Cost, Land and Land Improvements | 47,775 | ||
Initial Cost, Building and Building Improvements | 1,121,290 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 189 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 8,703 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 47,964 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,129,993 | ||
Total | 1,177,957 | ||
Accumulated Depreciation | $ (27,215) | ||
Rental Housing Properties: | Student Housing | Portland, OR | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 67,544 | ||
Initial Cost, Land and Land Improvements | 1,493 | ||
Initial Cost, Building and Building Improvements | 94,652 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 138 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,493 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 94,790 | ||
Total | 96,283 | ||
Accumulated Depreciation | $ (993) | ||
Rental Housing Properties: | Student Housing | Raleigh, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 36,750 | ||
Initial Cost, Land and Land Improvements | 11,340 | ||
Initial Cost, Building and Building Improvements | 46,044 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 455 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,340 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 46,498 | ||
Total | 57,838 | ||
Accumulated Depreciation | $ (1,456) | ||
Rental Housing Properties: | Student Housing | Richmond, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 189,460 | ||
Initial Cost, Land and Land Improvements | 12,724 | ||
Initial Cost, Building and Building Improvements | 242,230 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 797 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,724 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 243,026 | ||
Total | 255,750 | ||
Accumulated Depreciation | $ (2,538) | ||
Rental Housing Properties: | Student Housing | Riverside, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 29,818 | ||
Initial Cost, Land and Land Improvements | 3,966 | ||
Initial Cost, Building and Building Improvements | 40,159 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 42 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,442 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,009 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 41,601 | ||
Total | 45,610 | ||
Accumulated Depreciation | $ (6,080) | ||
Rental Housing Properties: | Student Housing | San Antonio, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 74,610 | ||
Initial Cost, Land and Land Improvements | 21,357 | ||
Initial Cost, Building and Building Improvements | 82,319 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 126 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,357 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 82,445 | ||
Total | 103,802 | ||
Accumulated Depreciation | $ (1,015) | ||
Rental Housing Properties: | Student Housing | San Diego, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 105,114 | ||
Initial Cost, Land and Land Improvements | 39,861 | ||
Initial Cost, Building and Building Improvements | 131,211 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,305 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 39,863 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 132,517 | ||
Total | 172,380 | ||
Accumulated Depreciation | $ (2,475) | ||
Rental Housing Properties: | Student Housing | Seattle, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 153,898 | ||
Initial Cost, Land and Land Improvements | 22,192 | ||
Initial Cost, Building and Building Improvements | 240,819 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 403 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 22,192 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 241,221 | ||
Total | 263,413 | ||
Accumulated Depreciation | $ (2,432) | ||
Rental Housing Properties: | Student Housing | Tampa, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 90,411 | ||
Initial Cost, Land and Land Improvements | 11,640 | ||
Initial Cost, Building and Building Improvements | 149,614 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,027 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,640 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 150,642 | ||
Total | 162,282 | ||
Accumulated Depreciation | $ (1,788) | ||
Rental Housing Properties: | Student Housing | Gainesville, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 103,020 | ||
Initial Cost, Land and Land Improvements | 21,090 | ||
Initial Cost, Building and Building Improvements | 145,160 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 64 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,090 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 145,224 | ||
Total | 166,314 | ||
Accumulated Depreciation | $ (1,574) | ||
Rental Housing Properties: | Student Housing | Tucson, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 264,295 | ||
Initial Cost, Land and Land Improvements | 21,691 | ||
Initial Cost, Building and Building Improvements | 435,395 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 157 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,651 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,848 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 437,046 | ||
Total | 458,894 | ||
Accumulated Depreciation | $ (24,680) | ||
Rental Housing Properties: | Student Housing | Akron, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 68,212 | ||
Initial Cost, Land and Land Improvements | 9,089 | ||
Initial Cost, Building and Building Improvements | 83,173 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 45 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 711 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,134 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 83,885 | ||
Total | 93,019 | ||
Accumulated Depreciation | $ (6,762) | ||
Rental Housing Properties: | Student Housing | Albuquerque, NM | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 72,477 | ||
Initial Cost, Land and Land Improvements | 3,982 | ||
Initial Cost, Building and Building Improvements | 104,201 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 86 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,982 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 104,287 | ||
Total | 108,269 | ||
Accumulated Depreciation | $ (1,578) | ||
Rental Housing Properties: | Student Housing | Ames, IA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 48,370 | ||
Initial Cost, Land and Land Improvements | 7,612 | ||
Initial Cost, Building and Building Improvements | 69,576 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 326 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,612 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 69,902 | ||
Total | 77,514 | ||
Accumulated Depreciation | $ (760) | ||
Rental Housing Properties: | Student Housing | Ann Arbor, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 141,471 | ||
Initial Cost, Land and Land Improvements | 25,055 | ||
Initial Cost, Building and Building Improvements | 184,864 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 414 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 25,055 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 185,278 | ||
Total | 210,333 | ||
Accumulated Depreciation | $ (2,894) | ||
Rental Housing Properties: | Student Housing | Athens, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 123,500 | ||
Initial Cost, Land and Land Improvements | 21,117 | ||
Initial Cost, Building and Building Improvements | 162,627 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 40 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 563 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,157 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 163,190 | ||
Total | 184,347 | ||
Accumulated Depreciation | $ (13,435) | ||
Rental Housing Properties: | Student Housing | Auburn, AL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 180,324 | ||
Initial Cost, Land and Land Improvements | 26,966 | ||
Initial Cost, Building and Building Improvements | 245,737 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 105 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 616 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 27,072 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 246,353 | ||
Total | 273,425 | ||
Accumulated Depreciation | $ (9,833) | ||
Rental Housing Properties: | Student Housing | Baton Rouge, LA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 53,250 | ||
Initial Cost, Land and Land Improvements | 10,134 | ||
Initial Cost, Building and Building Improvements | 60,790 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 43 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 53 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,176 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 60,843 | ||
Total | 71,019 | ||
Accumulated Depreciation | $ (1,591) | ||
Rental Housing Properties: | Student Housing | Binghamton, NY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 116,700 | ||
Initial Cost, Land and Land Improvements | 23,571 | ||
Initial Cost, Building and Building Improvements | 145,350 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 845 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 23,571 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 146,195 | ||
Total | 169,766 | ||
Accumulated Depreciation | $ (1,660) | ||
Rental Housing Properties: | Student Housing | Blacksburg, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 1,700 | ||
Initial Cost, Building and Building Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,700 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 0 | ||
Total | 1,700 | ||
Accumulated Depreciation | $ 0 | ||
Rental Housing Properties: | Student Housing | Blacksburg, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 64,532 | ||
Initial Cost, Land and Land Improvements | 12,698 | ||
Initial Cost, Building and Building Improvements | 71,693 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 275 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 504 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,973 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 72,197 | ||
Total | 85,170 | ||
Accumulated Depreciation | $ (11,101) | ||
Rental Housing Properties: | Student Housing | Boone, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 49,900 | ||
Initial Cost, Land and Land Improvements | 4,599 | ||
Initial Cost, Building and Building Improvements | 73,835 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 196 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,599 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 74,032 | ||
Total | 78,631 | ||
Accumulated Depreciation | $ (3,481) | ||
Rental Housing Properties: | Student Housing | Buffalo, NY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 164,635 | ||
Initial Cost, Land and Land Improvements | 69,684 | ||
Initial Cost, Building and Building Improvements | 225,816 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 629 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 69,684 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 226,444 | ||
Total | 296,128 | ||
Accumulated Depreciation | $ (5,473) | ||
Rental Housing Properties: | Student Housing | Carbondale, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 3,100 | ||
Initial Cost, Building and Building Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,100 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 0 | ||
Total | 3,100 | ||
Accumulated Depreciation | $ 0 | ||
Rental Housing Properties: | Student Housing | Champaign, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 84,790 | ||
Initial Cost, Land and Land Improvements | 8,851 | ||
Initial Cost, Building and Building Improvements | 119,403 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,255 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,851 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 123,658 | ||
Total | 132,509 | ||
Accumulated Depreciation | $ (1,297) | ||
Rental Housing Properties: | Student Housing | Charlottesville, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 68,438 | ||
Initial Cost, Land and Land Improvements | 5,118 | ||
Initial Cost, Building and Building Improvements | 94,048 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 671 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,110 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,789 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 98,158 | ||
Total | 103,947 | ||
Accumulated Depreciation | $ (14,253) | ||
Rental Housing Properties: | Student Housing | College Station, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 225,737 | ||
Initial Cost, Land and Land Improvements | 76,636 | ||
Initial Cost, Building and Building Improvements | 277,661 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,849 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 76,636 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 280,510 | ||
Total | 357,146 | ||
Accumulated Depreciation | $ (2,457) | ||
Rental Housing Properties: | Student Housing | Columbia, MO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 52,430 | ||
Initial Cost, Land and Land Improvements | 5,320 | ||
Initial Cost, Building and Building Improvements | 99,308 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 607 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,320 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 99,915 | ||
Total | 105,235 | ||
Accumulated Depreciation | $ (1,051) | ||
Rental Housing Properties: | Student Housing | Columbia, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 36,155 | ||
Initial Cost, Land and Land Improvements | 11,100 | ||
Initial Cost, Building and Building Improvements | 68,885 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 97 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,100 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 68,982 | ||
Total | 80,082 | ||
Accumulated Depreciation | $ (2,128) | ||
Rental Housing Properties: | Student Housing | Corvallis, OR | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 39,552 | ||
Initial Cost, Land and Land Improvements | 10,155 | ||
Initial Cost, Building and Building Improvements | 45,229 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 180 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,155 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 45,409 | ||
Total | 55,564 | ||
Accumulated Depreciation | $ (838) | ||
Rental Housing Properties: | Student Housing | Eugene, OR | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 217,850 | ||
Initial Cost, Land and Land Improvements | 22,111 | ||
Initial Cost, Building and Building Improvements | 293,082 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 570 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 22,111 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 293,652 | ||
Total | 315,763 | ||
Accumulated Depreciation | $ (3,805) | ||
Rental Housing Properties: | Student Housing | Fayetteville, AR | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 36,224 | ||
Initial Cost, Land and Land Improvements | 11,153 | ||
Initial Cost, Building and Building Improvements | 36,193 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 86 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 518 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,239 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 36,711 | ||
Total | 47,950 | ||
Accumulated Depreciation | $ (1,059) | ||
Rental Housing Properties: | Student Housing | Flagstaff, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 303,040 | ||
Initial Cost, Land and Land Improvements | 8,414 | ||
Initial Cost, Building and Building Improvements | 416,453 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,103 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,414 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 417,556 | ||
Total | 425,970 | ||
Accumulated Depreciation | $ (5,118) | ||
Rental Housing Properties: | Student Housing | Fresno, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 17,970 | ||
Initial Cost, Land and Land Improvements | 4,757 | ||
Initial Cost, Building and Building Improvements | 20,238 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 344 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,757 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 20,583 | ||
Total | 25,340 | ||
Accumulated Depreciation | $ (281) | ||
Rental Housing Properties: | Student Housing | Greensboro, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 35,700 | ||
Initial Cost, Land and Land Improvements | 8,291 | ||
Initial Cost, Building and Building Improvements | 61,433 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 36 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,291 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 61,469 | ||
Total | 69,760 | ||
Accumulated Depreciation | $ (685) | ||
Rental Housing Properties: | Student Housing | Greenville, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 45,961 | ||
Initial Cost, Land and Land Improvements | 8,458 | ||
Initial Cost, Building and Building Improvements | 45,948 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 76 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,389 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,535 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 48,338 | ||
Total | 56,873 | ||
Accumulated Depreciation | $ (6,940) | ||
Rental Housing Properties: | Student Housing | Huntington, WV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 12,450 | ||
Initial Cost, Land and Land Improvements | 2,206 | ||
Initial Cost, Building and Building Improvements | 15,530 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 590 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,206 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,120 | ||
Total | 18,326 | ||
Accumulated Depreciation | $ (200) | ||
Rental Housing Properties: | Student Housing | Huntsville, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 24,840 | ||
Initial Cost, Land and Land Improvements | 6,831 | ||
Initial Cost, Building and Building Improvements | 31,778 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 109 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,831 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 31,887 | ||
Total | 38,718 | ||
Accumulated Depreciation | $ (445) | ||
Rental Housing Properties: | Student Housing | Indianapolis, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 110,803 | ||
Initial Cost, Land and Land Improvements | 577 | ||
Initial Cost, Building and Building Improvements | 150,355 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 414 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 577 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 150,769 | ||
Total | 151,346 | ||
Accumulated Depreciation | $ (1,615) | ||
Rental Housing Properties: | Student Housing | Knoxville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 158,400 | ||
Initial Cost, Land and Land Improvements | 28,669 | ||
Initial Cost, Building and Building Improvements | 194,922 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 61 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,071 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 28,731 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 196,993 | ||
Total | 225,724 | ||
Accumulated Depreciation | $ (7,172) | ||
Rental Housing Properties: | Student Housing | Lafayette, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 93,400 | ||
Initial Cost, Land and Land Improvements | 9,674 | ||
Initial Cost, Building and Building Improvements | 141,640 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 698 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,674 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 142,338 | ||
Total | 152,012 | ||
Accumulated Depreciation | $ (1,476) | ||
Rental Housing Properties: | Student Housing | Lansing, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 65,220 | ||
Initial Cost, Land and Land Improvements | 12,317 | ||
Initial Cost, Building and Building Improvements | 79,443 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 30 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,317 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 79,473 | ||
Total | 91,790 | ||
Accumulated Depreciation | $ (943) | ||
Rental Housing Properties: | Student Housing | Laredo, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 447 | ||
Initial Cost, Land and Land Improvements | 0 | ||
Initial Cost, Building and Building Improvements | 861 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 33 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 894 | ||
Total | 894 | ||
Accumulated Depreciation | $ (331) | ||
Rental Housing Properties: | Student Housing | Lexington, KY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 161,490 | ||
Initial Cost, Land and Land Improvements | 47,160 | ||
Initial Cost, Building and Building Improvements | 184,088 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 233 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 47,160 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 184,321 | ||
Total | 231,481 | ||
Accumulated Depreciation | $ (2,179) | ||
Rental Housing Properties: | Student Housing | Lubbock, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 7 | ||
Encumbrances | $ 271,526 | ||
Initial Cost, Land and Land Improvements | 57,660 | ||
Initial Cost, Building and Building Improvements | 337,160 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 463 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 57,660 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 337,623 | ||
Total | 395,283 | ||
Accumulated Depreciation | $ (3,999) | ||
Rental Housing Properties: | Student Housing | Madison, WI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 98,700 | ||
Initial Cost, Land and Land Improvements | 7,410 | ||
Initial Cost, Building and Building Improvements | 163,875 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 191 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,410 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 164,066 | ||
Total | 171,476 | ||
Accumulated Depreciation | $ (1,716) | ||
Rental Housing Properties: | Student Housing | Mankato, MN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 38,160 | ||
Initial Cost, Land and Land Improvements | 7,286 | ||
Initial Cost, Building and Building Improvements | 52,185 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 63 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,286 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 52,248 | ||
Total | 59,534 | ||
Accumulated Depreciation | $ (620) | ||
Rental Housing Properties: | Student Housing | Morgantown, WV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 73,837 | ||
Initial Cost, Land and Land Improvements | 10,301 | ||
Initial Cost, Building and Building Improvements | 73,206 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 132 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,301 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 73,338 | ||
Total | 83,639 | ||
Accumulated Depreciation | $ (904) | ||
Rental Housing Properties: | Student Housing | Oklahoma City, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 66,629 | ||
Initial Cost, Land and Land Improvements | 11,400 | ||
Initial Cost, Building and Building Improvements | 93,765 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 8 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,400 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 93,773 | ||
Total | 105,173 | ||
Accumulated Depreciation | $ (998) | ||
Rental Housing Properties: | Student Housing | Oxford, MS | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 15,970 | ||
Initial Cost, Land and Land Improvements | 6,779 | ||
Initial Cost, Building and Building Improvements | 16,658 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 16 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,779 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,673 | ||
Total | 23,452 | ||
Accumulated Depreciation | $ (282) | ||
Rental Housing Properties: | Student Housing | Pullman, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 51,400 | ||
Initial Cost, Land and Land Improvements | 20,172 | ||
Initial Cost, Building and Building Improvements | 55,481 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 347 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 136 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 20,519 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 55,616 | ||
Total | 76,135 | ||
Accumulated Depreciation | $ (4,058) | ||
Rental Housing Properties: | Student Housing | Reno, NV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 58,000 | ||
Initial Cost, Land and Land Improvements | 6,265 | ||
Initial Cost, Building and Building Improvements | 75,388 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 14 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,265 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 75,402 | ||
Total | 81,667 | ||
Accumulated Depreciation | $ (2,932) | ||
Rental Housing Properties: | Student Housing | Rochester, NY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 119,544 | ||
Initial Cost, Land and Land Improvements | 43,585 | ||
Initial Cost, Building and Building Improvements | 162,946 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 402 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 43,585 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 163,348 | ||
Total | 206,933 | ||
Accumulated Depreciation | $ (2,267) | ||
Rental Housing Properties: | Student Housing | San Francisco, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 190,241 | ||
Initial Cost, Land and Land Improvements | 4,652 | ||
Initial Cost, Building and Building Improvements | 337,369 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 52 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 19,968 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,704 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 357,337 | ||
Total | 362,041 | ||
Accumulated Depreciation | $ (5,866) | ||
Rental Housing Properties: | Student Housing | Starkville, MS | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,073 | ||
Initial Cost, Land and Land Improvements | 2,678 | ||
Initial Cost, Building and Building Improvements | 6,050 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 122 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,678 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,172 | ||
Total | 8,850 | ||
Accumulated Depreciation | $ (103) | ||
Rental Housing Properties: | Student Housing | State College, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 165,312 | ||
Initial Cost, Land and Land Improvements | 22,755 | ||
Initial Cost, Building and Building Improvements | 201,931 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 394 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,372 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 23,150 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 206,303 | ||
Total | 229,453 | ||
Accumulated Depreciation | $ (24,157) | ||
Rental Housing Properties: | Student Housing | Syracuse, NY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 32,733 | ||
Initial Cost, Land and Land Improvements | 1,693 | ||
Initial Cost, Building and Building Improvements | 59,712 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 72 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,693 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 59,784 | ||
Total | 61,477 | ||
Accumulated Depreciation | $ (686) | ||
Rental Housing Properties: | Student Housing | Tallahassee, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 378,031 | ||
Initial Cost, Land and Land Improvements | 74,759 | ||
Initial Cost, Building and Building Improvements | 506,945 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,917 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 74,763 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 508,862 | ||
Total | 583,625 | ||
Accumulated Depreciation | $ (10,316) | ||
Rental Housing Properties: | Student Housing | Toledo, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 22,665 | ||
Initial Cost, Land and Land Improvements | 4,045 | ||
Initial Cost, Building and Building Improvements | 25,847 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 28 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,045 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 25,875 | ||
Total | 29,920 | ||
Accumulated Depreciation | $ (297) | ||
Rental Housing Properties: | Student Housing | Trenton, NJ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 39,893 | ||
Initial Cost, Land and Land Improvements | 3,712 | ||
Initial Cost, Building and Building Improvements | 74,929 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 16 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,712 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 74,946 | ||
Total | 78,658 | ||
Accumulated Depreciation | $ (1,081) | ||
Rental Housing Properties: | Student Housing | Tuscaloosa, AL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 141,931 | ||
Initial Cost, Land and Land Improvements | 38,573 | ||
Initial Cost, Building and Building Improvements | 151,583 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 45 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,606 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 38,618 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 155,190 | ||
Total | 193,808 | ||
Accumulated Depreciation | $ (13,798) | ||
Rental Housing Properties: | Student Housing | Waco, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 30,335 | ||
Initial Cost, Land and Land Improvements | 6,366 | ||
Initial Cost, Building and Building Improvements | 73,653 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,341 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,366 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 75,994 | ||
Total | 82,360 | ||
Accumulated Depreciation | $ (789) | ||
Rental Housing Properties: | Single Family Rental | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2,952 | ||
Encumbrances | $ 831,080 | ||
Initial Cost, Land and Land Improvements | 231,289 | ||
Initial Cost, Building and Building Improvements | 1,013,607 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2,347 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 18,244 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 233,636 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,031,851 | ||
Total | 1,265,487 | ||
Accumulated Depreciation | $ (39,898) | ||
Rental Housing Properties: | Single Family Rental | Austin, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 118 | ||
Encumbrances | $ 31,191 | ||
Initial Cost, Land and Land Improvements | 9,604 | ||
Initial Cost, Building and Building Improvements | 41,807 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 104 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 571 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,708 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 42,378 | ||
Total | 52,086 | ||
Accumulated Depreciation | $ (1,878) | ||
Rental Housing Properties: | Single Family Rental | Boulder, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 10 | ||
Encumbrances | $ 5,346 | ||
Initial Cost, Land and Land Improvements | 1,657 | ||
Initial Cost, Building and Building Improvements | 6,145 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,657 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,145 | ||
Total | 7,802 | ||
Accumulated Depreciation | $ (285) | ||
Rental Housing Properties: | Single Family Rental | Charleston, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 208 | ||
Initial Cost, Land and Land Improvements | 50 | ||
Initial Cost, Building and Building Improvements | 242 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 50 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 245 | ||
Total | 295 | ||
Accumulated Depreciation | $ (1) | ||
Rental Housing Properties: | Single Family Rental | Charlotte, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 516 | ||
Encumbrances | $ 152,117 | ||
Initial Cost, Land and Land Improvements | 47,696 | ||
Initial Cost, Building and Building Improvements | 188,119 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 223 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,677 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 47,919 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 189,796 | ||
Total | 237,715 | ||
Accumulated Depreciation | $ (7,175) | ||
Rental Housing Properties: | Single Family Rental | Chicago, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 853 | ||
Encumbrances | $ 222,604 | ||
Initial Cost, Land and Land Improvements | 68,198 | ||
Initial Cost, Building and Building Improvements | 231,526 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 820 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,742 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 69,018 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 236,268 | ||
Total | 305,286 | ||
Accumulated Depreciation | $ (11,537) | ||
Rental Housing Properties: | Single Family Rental | Denver, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 948 | ||
Encumbrances | $ 407,266 | ||
Initial Cost, Land and Land Improvements | 134,559 | ||
Initial Cost, Building and Building Improvements | 454,641 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 307 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,723 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 134,866 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 457,364 | ||
Total | 592,230 | ||
Accumulated Depreciation | $ (17,101) | ||
Rental Housing Properties: | Single Family Rental | Durham, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 13 | ||
Encumbrances | $ 3,292 | ||
Initial Cost, Land and Land Improvements | 1,058 | ||
Initial Cost, Building and Building Improvements | 4,418 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 62 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,059 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,480 | ||
Total | 5,539 | ||
Accumulated Depreciation | $ (126) | ||
Rental Housing Properties: | Single Family Rental | Fort Collins, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 111 | ||
Encumbrances | $ 44,775 | ||
Initial Cost, Land and Land Improvements | 10,794 | ||
Initial Cost, Building and Building Improvements | 50,678 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 74 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 231 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,868 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 50,909 | ||
Total | 61,777 | ||
Accumulated Depreciation | $ (2,052) | ||
Rental Housing Properties: | Single Family Rental | Greenville, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 17 | ||
Encumbrances | $ 3,951 | ||
Initial Cost, Land and Land Improvements | 903 | ||
Initial Cost, Building and Building Improvements | 4,330 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 28 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 176 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 931 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,506 | ||
Total | 5,437 | ||
Accumulated Depreciation | $ (144) | ||
Rental Housing Properties: | Single Family Rental | Houston, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 309 | ||
Encumbrances | $ 70,496 | ||
Initial Cost, Land and Land Improvements | 17,026 | ||
Initial Cost, Building and Building Improvements | 77,937 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 729 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,450 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 17,755 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 79,387 | ||
Total | 97,142 | ||
Accumulated Depreciation | $ (3,887) | ||
Rental Housing Properties: | Single Family Rental | Jacksonville, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 198 | ||
Encumbrances | $ 61,853 | ||
Initial Cost, Land and Land Improvements | 18,752 | ||
Initial Cost, Building and Building Improvements | 66,394 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 130 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 798 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 18,882 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 67,192 | ||
Total | 86,074 | ||
Accumulated Depreciation | $ (3,195) | ||
Rental Housing Properties: | Single Family Rental | Kansas City, MO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 318 | ||
Encumbrances | $ 92,784 | ||
Initial Cost, Land and Land Improvements | 26,294 | ||
Initial Cost, Building and Building Improvements | 110,898 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 95 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,095 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 26,389 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 112,993 | ||
Total | 139,382 | ||
Accumulated Depreciation | $ (5,364) | ||
Rental Housing Properties: | Single Family Rental | Lakeland, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 136 | ||
Initial Cost, Land and Land Improvements | 45 | ||
Initial Cost, Building and Building Improvements | 175 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 45 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 178 | ||
Total | 223 | ||
Accumulated Depreciation | $ (10) | ||
Rental Housing Properties: | Single Family Rental | Las Vegas, NV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 283 | ||
Encumbrances | $ 88,065 | ||
Initial Cost, Land and Land Improvements | 35,149 | ||
Initial Cost, Building and Building Improvements | 92,036 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 277 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,728 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 35,426 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 93,764 | ||
Total | 129,190 | ||
Accumulated Depreciation | $ (1,709) | ||
Rental Housing Properties: | Single Family Rental | Los Angeles, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 82 | ||
Encumbrances | $ 36,315 | ||
Initial Cost, Land and Land Improvements | 14,122 | ||
Initial Cost, Building and Building Improvements | 40,629 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 95 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 543 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,217 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 41,172 | ||
Total | 55,389 | ||
Accumulated Depreciation | $ (1,493) | ||
Rental Housing Properties: | Single Family Rental | Louisville, KY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 51 | ||
Initial Cost, Building and Building Improvements | 183 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 6 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 57 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 187 | ||
Total | 244 | ||
Accumulated Depreciation | $ 0 | ||
Rental Housing Properties: | Single Family Rental | Miami, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 111 | ||
Encumbrances | $ 39,185 | ||
Initial Cost, Land and Land Improvements | 12,091 | ||
Initial Cost, Building and Building Improvements | 39,837 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 300 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 832 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,391 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 40,669 | ||
Total | 53,060 | ||
Accumulated Depreciation | $ (2,079) | ||
Rental Housing Properties: | Single Family Rental | Minneapolis, MN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1,117 | ||
Encumbrances | $ 339,487 | ||
Initial Cost, Land and Land Improvements | 119,208 | ||
Initial Cost, Building and Building Improvements | 356,753 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 479 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7,866 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 119,687 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 364,619 | ||
Total | 484,306 | ||
Accumulated Depreciation | $ (14,636) | ||
Rental Housing Properties: | Single Family Rental | Modesto, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 7 | ||
Encumbrances | $ 2,396 | ||
Initial Cost, Land and Land Improvements | 1,253 | ||
Initial Cost, Building and Building Improvements | 3,006 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 18 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,271 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,010 | ||
Total | 4,281 | ||
Accumulated Depreciation | $ (162) | ||
Rental Housing Properties: | Single Family Rental | Naples, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 11 | ||
Encumbrances | $ 4,249 | ||
Initial Cost, Land and Land Improvements | 1,424 | ||
Initial Cost, Building and Building Improvements | 4,334 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 81 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,505 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,334 | ||
Total | 5,839 | ||
Accumulated Depreciation | $ (247) | ||
Rental Housing Properties: | Single Family Rental | Nashville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 169 | ||
Encumbrances | $ 52,903 | ||
Initial Cost, Land and Land Improvements | 15,356 | ||
Initial Cost, Building and Building Improvements | 56,203 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 31 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 583 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 15,387 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 56,786 | ||
Total | 72,173 | ||
Accumulated Depreciation | $ (1,972) | ||
Rental Housing Properties: | Single Family Rental | North Port, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 242 | ||
Encumbrances | $ 76,576 | ||
Initial Cost, Land and Land Improvements | 21,425 | ||
Initial Cost, Building and Building Improvements | 77,691 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 534 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,115 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,959 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 79,806 | ||
Total | 101,765 | ||
Accumulated Depreciation | $ (3,882) | ||
Rental Housing Properties: | Single Family Rental | Olympia, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 102 | ||
Encumbrances | $ 38,741 | ||
Initial Cost, Land and Land Improvements | 16,039 | ||
Initial Cost, Building and Building Improvements | 40,005 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 451 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,044 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 40,456 | ||
Total | 56,500 | ||
Accumulated Depreciation | $ (1,557) | ||
Rental Housing Properties: | Single Family Rental | Orlando, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 683 | ||
Encumbrances | $ 205,913 | ||
Initial Cost, Land and Land Improvements | 63,086 | ||
Initial Cost, Building and Building Improvements | 226,869 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,346 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,494 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 64,432 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 233,363 | ||
Total | 297,795 | ||
Accumulated Depreciation | $ (10,123) | ||
Rental Housing Properties: | Single Family Rental | Palm Bay, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 35 | ||
Encumbrances | $ 7,823 | ||
Initial Cost, Land and Land Improvements | 2,721 | ||
Initial Cost, Building and Building Improvements | 8,857 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 36 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 304 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,757 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,161 | ||
Total | 11,918 | ||
Accumulated Depreciation | $ (269) | ||
Rental Housing Properties: | Single Family Rental | Philadelphia, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 186 | ||
Encumbrances | $ 49,962 | ||
Initial Cost, Land and Land Improvements | 19,701 | ||
Initial Cost, Building and Building Improvements | 56,576 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 72 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,803 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,773 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 58,379 | ||
Total | 78,152 | ||
Accumulated Depreciation | $ (2,940) | ||
Rental Housing Properties: | Single Family Rental | Phoenix, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 758 | ||
Encumbrances | $ 220,755 | ||
Initial Cost, Land and Land Improvements | 101,446 | ||
Initial Cost, Building and Building Improvements | 207,436 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 876 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,103 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 102,322 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 213,539 | ||
Total | 315,861 | ||
Accumulated Depreciation | $ (6,183) | ||
Rental Housing Properties: | Single Family Rental | Pittsburgh, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 88 | ||
Encumbrances | $ 24,463 | ||
Initial Cost, Land and Land Improvements | 7,975 | ||
Initial Cost, Building and Building Improvements | 31,100 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 452 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,975 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 31,552 | ||
Total | 39,527 | ||
Accumulated Depreciation | $ (1,649) | ||
Rental Housing Properties: | Single Family Rental | Portland, OR | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 328 | ||
Encumbrances | $ 138,266 | ||
Initial Cost, Land and Land Improvements | 67,481 | ||
Initial Cost, Building and Building Improvements | 128,997 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 550 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 67,481 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 129,547 | ||
Total | 197,028 | ||
Accumulated Depreciation | $ (6,090) | ||
Rental Housing Properties: | Single Family Rental | Raleigh, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 112 | ||
Encumbrances | $ 31,925 | ||
Initial Cost, Land and Land Improvements | 8,997 | ||
Initial Cost, Building and Building Improvements | 35,985 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 26 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 366 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,023 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 36,351 | ||
Total | 45,374 | ||
Accumulated Depreciation | $ (1,344) | ||
Rental Housing Properties: | Single Family Rental | Richmond, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 143 | ||
Encumbrances | $ 34,394 | ||
Initial Cost, Land and Land Improvements | 10,305 | ||
Initial Cost, Building and Building Improvements | 36,673 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 48 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 988 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,353 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 37,661 | ||
Total | 48,014 | ||
Accumulated Depreciation | $ (1,349) | ||
Rental Housing Properties: | Single Family Rental | Riverside, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 294 | ||
Encumbrances | $ 120,956 | ||
Initial Cost, Land and Land Improvements | 45,006 | ||
Initial Cost, Building and Building Improvements | 138,697 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 217 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,233 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 45,223 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 139,930 | ||
Total | 185,153 | ||
Accumulated Depreciation | $ (6,501) | ||
Rental Housing Properties: | Single Family Rental | Sacramento, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 93 | ||
Encumbrances | $ 45,734 | ||
Initial Cost, Land and Land Improvements | 16,821 | ||
Initial Cost, Building and Building Improvements | 48,978 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 73 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 216 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,894 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 49,194 | ||
Total | 66,088 | ||
Accumulated Depreciation | $ (2,482) | ||
Rental Housing Properties: | Single Family Rental | San Antonio, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 208 | ||
Encumbrances | $ 49,091 | ||
Initial Cost, Land and Land Improvements | 12,815 | ||
Initial Cost, Building and Building Improvements | 58,076 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 202 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 860 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 13,017 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 58,936 | ||
Total | 71,953 | ||
Accumulated Depreciation | $ (2,772) | ||
Rental Housing Properties: | Single Family Rental | San Diego, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 13 | ||
Encumbrances | $ 7,251 | ||
Initial Cost, Land and Land Improvements | 4,370 | ||
Initial Cost, Building and Building Improvements | 9,595 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,370 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,595 | ||
Total | 13,965 | ||
Accumulated Depreciation | $ (493) | ||
Rental Housing Properties: | Single Family Rental | Seattle, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 885 | ||
Encumbrances | $ 365,405 | ||
Initial Cost, Land and Land Improvements | 174,306 | ||
Initial Cost, Building and Building Improvements | 347,519 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 326 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,517 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 174,632 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 352,036 | ||
Total | 526,668 | ||
Accumulated Depreciation | $ (12,939) | ||
Rental Housing Properties: | Single Family Rental | Stockton, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 18 | ||
Encumbrances | $ 7,166 | ||
Initial Cost, Land and Land Improvements | 3,804 | ||
Initial Cost, Building and Building Improvements | 8,365 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 16 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 67 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,820 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,432 | ||
Total | 12,252 | ||
Accumulated Depreciation | $ (424) | ||
Rental Housing Properties: | Single Family Rental | Tampa, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 998 | ||
Encumbrances | $ 300,771 | ||
Initial Cost, Land and Land Improvements | 102,225 | ||
Initial Cost, Building and Building Improvements | 318,599 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,976 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9,820 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 104,201 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 328,419 | ||
Total | 432,620 | ||
Accumulated Depreciation | $ (13,387) | ||
Rental Housing Properties: | Single Family Rental | Washington DC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 296 | ||
Encumbrances | $ 87,713 | ||
Initial Cost, Land and Land Improvements | 37,394 | ||
Initial Cost, Building and Building Improvements | 88,083 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 90 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,089 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 37,484 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 90,172 | ||
Total | 127,656 | ||
Accumulated Depreciation | $ (3,681) | ||
Rental Housing Properties: | Single Family Rental | Cape Coral, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 123 | ||
Encumbrances | $ 31,117 | ||
Initial Cost, Land and Land Improvements | 8,463 | ||
Initial Cost, Building and Building Improvements | 31,139 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 387 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,145 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,850 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 32,284 | ||
Total | 41,134 | ||
Accumulated Depreciation | $ (1,606) | ||
Rental Housing Properties: | Single Family Rental | Albuquerque, NM | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 11 | ||
Encumbrances | $ 2,523 | ||
Initial Cost, Land and Land Improvements | 777 | ||
Initial Cost, Building and Building Improvements | 2,757 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 51 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 780 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,808 | ||
Total | 3,588 | ||
Accumulated Depreciation | $ (15) | ||
Rental Housing Properties: | Single Family Rental | Athens, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 10 | ||
Encumbrances | $ 2,055 | ||
Initial Cost, Land and Land Improvements | 574 | ||
Initial Cost, Building and Building Improvements | 2,576 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 74 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 577 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,650 | ||
Total | 3,227 | ||
Accumulated Depreciation | $ (73) | ||
Rental Housing Properties: | Single Family Rental | Columbia, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 200 | ||
Encumbrances | $ 40,327 | ||
Initial Cost, Land and Land Improvements | 9,308 | ||
Initial Cost, Building and Building Improvements | 45,231 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 110 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,463 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,418 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 46,694 | ||
Total | 56,112 | ||
Accumulated Depreciation | $ (1,904) | ||
Rental Housing Properties: | Single Family Rental | Greensboro, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 52 | ||
Encumbrances | $ 16,106 | ||
Initial Cost, Land and Land Improvements | 4,607 | ||
Initial Cost, Building and Building Improvements | 20,019 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 169 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,607 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 20,188 | ||
Total | 24,795 | ||
Accumulated Depreciation | $ (1,031) | ||
Rental Housing Properties: | Single Family Rental | Indianapolis, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 118 | ||
Encumbrances | $ 31,053 | ||
Initial Cost, Land and Land Improvements | 8,567 | ||
Initial Cost, Building and Building Improvements | 35,827 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 59 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 771 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,626 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 36,598 | ||
Total | 45,224 | ||
Accumulated Depreciation | $ (1,823) | ||
Rental Housing Properties: | Single Family Rental | Oklahoma City, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 37 | ||
Encumbrances | $ 8,233 | ||
Initial Cost, Land and Land Improvements | 1,884 | ||
Initial Cost, Building and Building Improvements | 9,565 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 36 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 130 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,920 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,695 | ||
Total | 11,615 | ||
Accumulated Depreciation | $ (399) | ||
Rental Housing Properties: | Single Family Rental | Augusta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 1,117 | ||
Initial Cost, Land and Land Improvements | 281 | ||
Initial Cost, Building and Building Improvements | 1,299 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 53 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 285 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,352 | ||
Total | 1,637 | ||
Accumulated Depreciation | $ (15) | ||
Rental Housing Properties: | Single Family Rental | Baltimore, MD | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 267 | ||
Encumbrances | $ 66,590 | ||
Initial Cost, Land and Land Improvements | 28,973 | ||
Initial Cost, Building and Building Improvements | 63,844 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 83 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,203 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 29,056 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 66,047 | ||
Total | 95,103 | ||
Accumulated Depreciation | $ (3,218) | ||
Rental Housing Properties: | Single Family Rental | Bellingham, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 227 | ||
Initial Cost, Land and Land Improvements | 109 | ||
Initial Cost, Building and Building Improvements | 231 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 109 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 231 | ||
Total | 340 | ||
Accumulated Depreciation | $ (13) | ||
Rental Housing Properties: | Single Family Rental | Bremerton, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 142 | ||
Encumbrances | $ 52,591 | ||
Initial Cost, Land and Land Improvements | 22,697 | ||
Initial Cost, Building and Building Improvements | 52,273 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 88 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,039 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 22,785 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 53,312 | ||
Total | 76,097 | ||
Accumulated Depreciation | $ (1,676) | ||
Rental Housing Properties: | Single Family Rental | Colorado Springs, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1,052 | ||
Encumbrances | $ 355,561 | ||
Initial Cost, Land and Land Improvements | 101,366 | ||
Initial Cost, Building and Building Improvements | 395,434 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 597 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,462 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 101,963 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 401,896 | ||
Total | 503,859 | ||
Accumulated Depreciation | $ (13,725) | ||
Rental Housing Properties: | Single Family Rental | Dallas, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1,729 | ||
Encumbrances | $ 486,555 | ||
Initial Cost, Land and Land Improvements | 152,699 | ||
Initial Cost, Building and Building Improvements | 580,544 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2,910 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7,057 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 155,609 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 587,601 | ||
Total | 743,210 | ||
Accumulated Depreciation | $ (25,591) | ||
Rental Housing Properties: | Single Family Rental | Deltona, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 262 | ||
Initial Cost, Land and Land Improvements | 93 | ||
Initial Cost, Building and Building Improvements | 302 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 14 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 96 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 316 | ||
Total | 412 | ||
Accumulated Depreciation | $ (2) | ||
Rental Housing Properties: | Single Family Rental | Gainesville, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 886 | ||
Initial Cost, Land and Land Improvements | 192 | ||
Initial Cost, Building and Building Improvements | 981 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 192 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 982 | ||
Total | 1,174 | ||
Accumulated Depreciation | $ (51) | ||
Rental Housing Properties: | Single Family Rental | Greeley, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 151 | ||
Encumbrances | $ 57,243 | ||
Initial Cost, Land and Land Improvements | 15,821 | ||
Initial Cost, Building and Building Improvements | 63,780 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 291 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 15,821 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 64,071 | ||
Total | 79,892 | ||
Accumulated Depreciation | $ (2,349) | ||
Rental Housing Properties: | Single Family Rental | Mount Vernon, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 1,674 | ||
Initial Cost, Land and Land Improvements | 806 | ||
Initial Cost, Building and Building Improvements | 1,235 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 807 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,238 | ||
Total | 2,045 | ||
Accumulated Depreciation | $ (66) | ||
Rental Housing Properties: | Single Family Rental | Myrtle Beach, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 391 | ||
Initial Cost, Land and Land Improvements | 94 | ||
Initial Cost, Building and Building Improvements | 455 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 95 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 462 | ||
Total | 557 | ||
Accumulated Depreciation | $ (3) | ||
Rental Housing Properties: | Single Family Rental | Ogden, UT | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 84 | ||
Encumbrances | $ 25,272 | ||
Initial Cost, Land and Land Improvements | 10,349 | ||
Initial Cost, Building and Building Improvements | 30,950 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 25 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 740 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,374 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 31,690 | ||
Total | 42,064 | ||
Accumulated Depreciation | $ (858) | ||
Rental Housing Properties: | Single Family Rental | Oxnard, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 430 | ||
Initial Cost, Land and Land Improvements | 221 | ||
Initial Cost, Building and Building Improvements | 668 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 221 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 668 | ||
Total | 889 | ||
Accumulated Depreciation | $ (34) | ||
Rental Housing Properties: | Single Family Rental | Port St. Lucie, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 891 | ||
Initial Cost, Land and Land Improvements | 503 | ||
Initial Cost, Building and Building Improvements | 817 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 14 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 13 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 517 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 830 | ||
Total | 1,347 | ||
Accumulated Depreciation | $ (41) | ||
Rental Housing Properties: | Single Family Rental | Provo, UT | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 11 | ||
Encumbrances | $ 4,216 | ||
Initial Cost, Land and Land Improvements | 1,587 | ||
Initial Cost, Building and Building Improvements | 4,106 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 27 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 61 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,614 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,167 | ||
Total | 5,781 | ||
Accumulated Depreciation | $ (124) | ||
Rental Housing Properties: | Single Family Rental | Punta Gorda, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 9 | ||
Encumbrances | $ 2,318 | ||
Initial Cost, Land and Land Improvements | 765 | ||
Initial Cost, Building and Building Improvements | 2,414 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 22 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 197 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 787 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,611 | ||
Total | 3,398 | ||
Accumulated Depreciation | $ (149) | ||
Rental Housing Properties: | Single Family Rental | Salt Lake City, UT | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 76 | ||
Encumbrances | $ 27,702 | ||
Initial Cost, Land and Land Improvements | 10,357 | ||
Initial Cost, Building and Building Improvements | 29,770 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 47 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 588 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,404 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,358 | ||
Total | 40,762 | ||
Accumulated Depreciation | $ (826) | ||
Rental Housing Properties: | Single Family Rental | Sanford, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 270 | ||
Initial Cost, Land and Land Improvements | 170 | ||
Initial Cost, Building and Building Improvements | 696 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 172 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 705 | ||
Total | 877 | ||
Accumulated Depreciation | $ (17) | ||
Rental Housing Properties: | Single Family Rental | St. Louis, MO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 172 | ||
Encumbrances | $ 42,408 | ||
Initial Cost, Land and Land Improvements | 11,151 | ||
Initial Cost, Building and Building Improvements | 46,532 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 90 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,299 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,241 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 47,831 | ||
Total | 59,072 | ||
Accumulated Depreciation | $ (2,077) | ||
Rental Housing Properties: | Single Family Rental | Tulsa, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 86 | ||
Encumbrances | $ 18,595 | ||
Initial Cost, Land and Land Improvements | 4,029 | ||
Initial Cost, Building and Building Improvements | 21,745 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 124 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 506 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,153 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 22,251 | ||
Total | 26,404 | ||
Accumulated Depreciation | $ (1,097) | ||
Rental Housing Properties: | Single Family Rental | Winston, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 28 | ||
Encumbrances | $ 7,057 | ||
Initial Cost, Land and Land Improvements | 1,809 | ||
Initial Cost, Building and Building Improvements | 8,033 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 8 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 81 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,817 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,114 | ||
Total | 9,931 | ||
Accumulated Depreciation | $ (328) | ||
Rental Housing Properties: | Senior Housing | Quebec, Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 12 | ||
Encumbrances | $ 309,685 | ||
Initial Cost, Land and Land Improvements | 29,642 | ||
Initial Cost, Building and Building Improvements | 456,023 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,134 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 29,642 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 462,158 | ||
Total | 491,800 | ||
Accumulated Depreciation | $ (11,239) | ||
Rental Housing Properties: | Affordable Housing | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 11 | ||
Encumbrances | $ 88,571 | ||
Initial Cost, Land and Land Improvements | 46,380 | ||
Initial Cost, Building and Building Improvements | 111,729 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 118 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,167 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 46,498 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 112,896 | ||
Total | 159,394 | ||
Accumulated Depreciation | $ (4,549) | ||
Rental Housing Properties: | Affordable Housing | Austin, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 38 | ||
Encumbrances | $ 225,883 | ||
Initial Cost, Land and Land Improvements | 174,040 | ||
Initial Cost, Building and Building Improvements | 589,684 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,021 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,121 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 175,061 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 592,805 | ||
Total | 767,866 | ||
Accumulated Depreciation | $ (22,852) | ||
Rental Housing Properties: | Affordable Housing | Beaumont, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 5,373 | ||
Initial Cost, Land and Land Improvements | 4,190 | ||
Initial Cost, Building and Building Improvements | 18,910 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 32 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 130 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,222 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,040 | ||
Total | 23,262 | ||
Accumulated Depreciation | $ (722) | ||
Rental Housing Properties: | Affordable Housing | Birmingham AL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,711 | ||
Initial Cost, Land and Land Improvements | 5,370 | ||
Initial Cost, Building and Building Improvements | 9,020 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 45 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 134 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,415 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,154 | ||
Total | 14,569 | ||
Accumulated Depreciation | $ (376) | ||
Rental Housing Properties: | Affordable Housing | Boston, MA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,646 | ||
Initial Cost, Land and Land Improvements | 8,440 | ||
Initial Cost, Building and Building Improvements | 37,586 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,440 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 37,586 | ||
Total | 46,026 | ||
Accumulated Depreciation | $ (1,491) | ||
Rental Housing Properties: | Affordable Housing | Boulder, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 41,000 | ||
Initial Cost, Land and Land Improvements | 16,410 | ||
Initial Cost, Building and Building Improvements | 80,709 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 131 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 401 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,541 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 81,110 | ||
Total | 97,651 | ||
Accumulated Depreciation | $ (3,212) | ||
Rental Housing Properties: | Affordable Housing | Charlotte, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 37,194 | ||
Initial Cost, Land and Land Improvements | 23,730 | ||
Initial Cost, Building and Building Improvements | 36,200 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 129 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 241 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 23,858 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 36,441 | ||
Total | 60,299 | ||
Accumulated Depreciation | $ (1,525) | ||
Rental Housing Properties: | Affordable Housing | Chicago, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 8 | ||
Encumbrances | $ 25,919 | ||
Initial Cost, Land and Land Improvements | 9,320 | ||
Initial Cost, Building and Building Improvements | 37,490 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 14 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 410 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,334 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 37,900 | ||
Total | 47,234 | ||
Accumulated Depreciation | $ (1,503) | ||
Rental Housing Properties: | Affordable Housing | Columbus, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 26,138 | ||
Initial Cost, Land and Land Improvements | 6,440 | ||
Initial Cost, Building and Building Improvements | 40,980 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 13 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 222 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,453 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 41,201 | ||
Total | 47,654 | ||
Accumulated Depreciation | $ (1,618) | ||
Rental Housing Properties: | Affordable Housing | Denver, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 9 | ||
Encumbrances | $ 196,705 | ||
Initial Cost, Land and Land Improvements | 62,220 | ||
Initial Cost, Building and Building Improvements | 355,190 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 151 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,031 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 62,371 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 358,222 | ||
Total | 420,593 | ||
Accumulated Depreciation | $ (14,059) | ||
Rental Housing Properties: | Affordable Housing | Durham, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,323 | ||
Initial Cost, Land and Land Improvements | 2,320 | ||
Initial Cost, Building and Building Improvements | 9,380 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 68 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,320 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,448 | ||
Total | 11,768 | ||
Accumulated Depreciation | $ (375) | ||
Rental Housing Properties: | Affordable Housing | Fort Collins, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 81,780 | ||
Initial Cost, Land and Land Improvements | 27,370 | ||
Initial Cost, Building and Building Improvements | 124,669 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 356 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 684 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 27,725 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 125,353 | ||
Total | 153,078 | ||
Accumulated Depreciation | $ (4,954) | ||
Rental Housing Properties: | Affordable Housing | Greenville, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 34,786 | ||
Initial Cost, Land and Land Improvements | 11,690 | ||
Initial Cost, Building and Building Improvements | 48,890 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 80 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 246 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,770 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 49,135 | ||
Total | 60,905 | ||
Accumulated Depreciation | $ (1,996) | ||
Rental Housing Properties: | Affordable Housing | Houston, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 19 | ||
Encumbrances | $ 203,294 | ||
Initial Cost, Land and Land Improvements | 101,479 | ||
Initial Cost, Building and Building Improvements | 307,658 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 279 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,302 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 101,758 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 309,960 | ||
Total | 411,718 | ||
Accumulated Depreciation | $ (12,384) | ||
Rental Housing Properties: | Affordable Housing | Jacksonville, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 118,642 | ||
Initial Cost, Land and Land Improvements | 29,558 | ||
Initial Cost, Building and Building Improvements | 173,773 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 532 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 29,562 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 174,306 | ||
Total | 203,868 | ||
Accumulated Depreciation | $ (6,637) | ||
Rental Housing Properties: | Affordable Housing | Kansas City, MO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 7 | ||
Encumbrances | $ 68,861 | ||
Initial Cost, Land and Land Improvements | 13,873 | ||
Initial Cost, Building and Building Improvements | 112,550 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 507 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 13,875 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 113,057 | ||
Total | 126,932 | ||
Accumulated Depreciation | $ (4,409) | ||
Rental Housing Properties: | Affordable Housing | Lakeland, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 781 | ||
Initial Cost, Land and Land Improvements | 2,470 | ||
Initial Cost, Building and Building Improvements | 5,570 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,474 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,572 | ||
Total | 8,046 | ||
Accumulated Depreciation | $ (226) | ||
Rental Housing Properties: | Affordable Housing | Las Vegas, NV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 40,442 | ||
Initial Cost, Land and Land Improvements | 17,630 | ||
Initial Cost, Building and Building Improvements | 93,449 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 21 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 235 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 17,650 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 93,685 | ||
Total | 111,335 | ||
Accumulated Depreciation | $ (3,730) | ||
Rental Housing Properties: | Affordable Housing | Los Angeles, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 31 | ||
Encumbrances | $ 169,733 | ||
Initial Cost, Land and Land Improvements | 156,419 | ||
Initial Cost, Building and Building Improvements | 396,387 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 62 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,098 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 156,481 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 398,485 | ||
Total | 554,966 | ||
Accumulated Depreciation | $ (16,031) | ||
Rental Housing Properties: | Affordable Housing | Louisville, KY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 730 | ||
Initial Cost, Building and Building Improvements | 910 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 8 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 735 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 918 | ||
Total | 1,653 | ||
Accumulated Depreciation | $ (39) | ||
Rental Housing Properties: | Affordable Housing | Miami, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 32 | ||
Encumbrances | $ 1,168,186 | ||
Initial Cost, Land and Land Improvements | 372,153 | ||
Initial Cost, Building and Building Improvements | 1,662,211 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 55 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 5,140 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 372,208 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,667,352 | ||
Total | 2,039,560 | ||
Accumulated Depreciation | $ (62,667) | ||
Rental Housing Properties: | Affordable Housing | Modesto, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 5,476 | ||
Initial Cost, Land and Land Improvements | 7,400 | ||
Initial Cost, Building and Building Improvements | 18,610 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 75 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,402 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,685 | ||
Total | 26,087 | ||
Accumulated Depreciation | $ (751) | ||
Rental Housing Properties: | Affordable Housing | Nashville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 14,856 | ||
Initial Cost, Land and Land Improvements | 8,390 | ||
Initial Cost, Building and Building Improvements | 18,410 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 568 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,393 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,978 | ||
Total | 27,371 | ||
Accumulated Depreciation | $ (754) | ||
Rental Housing Properties: | Affordable Housing | New York, NY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 15,469 | ||
Initial Cost, Land and Land Improvements | 7,188 | ||
Initial Cost, Building and Building Improvements | 8,872 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 6 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 172 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,194 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,044 | ||
Total | 16,238 | ||
Accumulated Depreciation | $ (344) | ||
Rental Housing Properties: | Affordable Housing | Orlando, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 10,220 | ||
Initial Cost, Land and Land Improvements | 5,970 | ||
Initial Cost, Building and Building Improvements | 30,250 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,970 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,259 | ||
Total | 36,229 | ||
Accumulated Depreciation | $ (1,195) | ||
Rental Housing Properties: | Affordable Housing | Palm Bay, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 67,145 | ||
Initial Cost, Land and Land Improvements | 20,385 | ||
Initial Cost, Building and Building Improvements | 79,869 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 624 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 20,385 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 80,493 | ||
Total | 100,878 | ||
Accumulated Depreciation | $ (3,103) | ||
Rental Housing Properties: | Affordable Housing | Phoenix, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 8 | ||
Encumbrances | $ 86,090 | ||
Initial Cost, Land and Land Improvements | 27,180 | ||
Initial Cost, Building and Building Improvements | 121,519 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 177 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,024 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 27,357 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 123,543 | ||
Total | 150,900 | ||
Accumulated Depreciation | $ (4,776) | ||
Rental Housing Properties: | Affordable Housing | Raleigh, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 9,705 | ||
Initial Cost, Land and Land Improvements | 2,330 | ||
Initial Cost, Building and Building Improvements | 10,850 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 114 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,330 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,964 | ||
Total | 13,294 | ||
Accumulated Depreciation | $ (434) | ||
Rental Housing Properties: | Affordable Housing | Richmond, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 13,781 | ||
Initial Cost, Land and Land Improvements | 6,810 | ||
Initial Cost, Building and Building Improvements | 33,860 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 95 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,810 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 33,955 | ||
Total | 40,765 | ||
Accumulated Depreciation | $ (1,365) | ||
Rental Housing Properties: | Affordable Housing | Riverside, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 8 | ||
Encumbrances | $ 34,611 | ||
Initial Cost, Land and Land Improvements | 67,570 | ||
Initial Cost, Building and Building Improvements | 54,010 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 68 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 460 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 67,638 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 54,469 | ||
Total | 122,107 | ||
Accumulated Depreciation | $ (2,379) | ||
Rental Housing Properties: | Affordable Housing | Sacramento, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 16 | ||
Encumbrances | $ 93,201 | ||
Initial Cost, Land and Land Improvements | 45,900 | ||
Initial Cost, Building and Building Improvements | 312,328 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 290 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,745 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 46,189 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 314,073 | ||
Total | 360,262 | ||
Accumulated Depreciation | $ (12,334) | ||
Rental Housing Properties: | Affordable Housing | San Antonio, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 23,859 | ||
Initial Cost, Land and Land Improvements | 12,430 | ||
Initial Cost, Building and Building Improvements | 44,380 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 67 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 216 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,497 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 44,596 | ||
Total | 57,093 | ||
Accumulated Depreciation | $ (1,779) | ||
Rental Housing Properties: | Affordable Housing | San Diego, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 83,558 | ||
Initial Cost, Land and Land Improvements | 36,550 | ||
Initial Cost, Building and Building Improvements | 109,655 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 17 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 136 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 36,567 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 109,791 | ||
Total | 146,358 | ||
Accumulated Depreciation | $ (3,766) | ||
Rental Housing Properties: | Affordable Housing | Savannah, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 129 | ||
Initial Cost, Land and Land Improvements | 1,560 | ||
Initial Cost, Building and Building Improvements | 810 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 110 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,563 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 920 | ||
Total | 2,483 | ||
Accumulated Depreciation | $ (43) | ||
Rental Housing Properties: | Affordable Housing | Seattle, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 96,032 | ||
Initial Cost, Land and Land Improvements | 26,130 | ||
Initial Cost, Building and Building Improvements | 237,786 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 58 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 8,007 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 26,188 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 245,793 | ||
Total | 271,981 | ||
Accumulated Depreciation | $ (8,981) | ||
Rental Housing Properties: | Affordable Housing | Stockton, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 24,058 | ||
Initial Cost, Land and Land Improvements | 10,740 | ||
Initial Cost, Building and Building Improvements | 44,000 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 648 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,740 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 44,648 | ||
Total | 55,388 | ||
Accumulated Depreciation | $ (1,756) | ||
Rental Housing Properties: | Affordable Housing | Tampa, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 162,312 | ||
Initial Cost, Land and Land Improvements | 55,733 | ||
Initial Cost, Building and Building Improvements | 210,078 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 558 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 55,733 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 210,636 | ||
Total | 266,369 | ||
Accumulated Depreciation | $ (7,904) | ||
Rental Housing Properties: | Affordable Housing | Virginia Beach, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 19,544 | ||
Initial Cost, Land and Land Improvements | 20,370 | ||
Initial Cost, Building and Building Improvements | 56,310 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 21 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 731 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 20,391 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 57,040 | ||
Total | 77,431 | ||
Accumulated Depreciation | $ (2,277) | ||
Rental Housing Properties: | Affordable Housing | Washington DC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 31 | ||
Encumbrances | $ 527,138 | ||
Initial Cost, Land and Land Improvements | 384,897 | ||
Initial Cost, Building and Building Improvements | 716,058 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 293 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 8,605 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 385,191 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 724,664 | ||
Total | 1,109,855 | ||
Accumulated Depreciation | $ (29,279) | ||
Rental Housing Properties: | Affordable Housing | Cape Coral, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 62,073 | ||
Initial Cost, Land and Land Improvements | 14,232 | ||
Initial Cost, Building and Building Improvements | 96,599 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 744 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,237 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 97,343 | ||
Total | 111,580 | ||
Accumulated Depreciation | $ (3,581) | ||
Rental Housing Properties: | Affordable Housing | Cincinnati, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 7 | ||
Encumbrances | $ 68,370 | ||
Initial Cost, Land and Land Improvements | 17,960 | ||
Initial Cost, Building and Building Improvements | 107,339 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 133 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 569 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 18,093 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 107,908 | ||
Total | 126,001 | ||
Accumulated Depreciation | $ (4,245) | ||
Rental Housing Properties: | Affordable Housing | Gainesville, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,195 | ||
Initial Cost, Land and Land Improvements | 1,620 | ||
Initial Cost, Building and Building Improvements | 2,880 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 6 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 8 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,626 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,887 | ||
Total | 4,513 | ||
Accumulated Depreciation | $ (119) | ||
Rental Housing Properties: | Affordable Housing | Santa Rosa, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 15,132 | ||
Initial Cost, Land and Land Improvements | 12,190 | ||
Initial Cost, Building and Building Improvements | 55,290 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 55 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 734 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,245 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 56,023 | ||
Total | 68,268 | ||
Accumulated Depreciation | $ (2,204) | ||
Rental Housing Properties: | Affordable Housing | Sebastian, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 14,850 | ||
Initial Cost, Land and Land Improvements | 9,680 | ||
Initial Cost, Building and Building Improvements | 39,390 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 844 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,680 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 40,234 | ||
Total | 49,914 | ||
Accumulated Depreciation | $ (1,577) | ||
Rental Housing Properties: | Affordable Housing | Albuquerque, NM | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 8 | ||
Encumbrances | $ 71,556 | ||
Initial Cost, Land and Land Improvements | 69,810 | ||
Initial Cost, Building and Building Improvements | 82,209 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 413 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,514 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 70,222 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 84,723 | ||
Total | 154,945 | ||
Accumulated Depreciation | $ (3,530) | ||
Rental Housing Properties: | Affordable Housing | Ann Arbor, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 4,150 | ||
Initial Cost, Building and Building Improvements | 22,100 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 22 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 141 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,172 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 22,241 | ||
Total | 26,413 | ||
Accumulated Depreciation | $ (931) | ||
Rental Housing Properties: | Affordable Housing | Charlottesville, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 982 | ||
Initial Cost, Land and Land Improvements | 5,940 | ||
Initial Cost, Building and Building Improvements | 21,640 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 320 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,940 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,960 | ||
Total | 27,900 | ||
Accumulated Depreciation | $ (868) | ||
Rental Housing Properties: | Affordable Housing | College Station, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,389 | ||
Initial Cost, Land and Land Improvements | 3,160 | ||
Initial Cost, Building and Building Improvements | 12,540 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 8 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,168 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,561 | ||
Total | 15,729 | ||
Accumulated Depreciation | $ (498) | ||
Rental Housing Properties: | Affordable Housing | Fresno, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 23,086 | ||
Initial Cost, Land and Land Improvements | 20,320 | ||
Initial Cost, Building and Building Improvements | 17,800 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 41 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 165 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 20,361 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 17,964 | ||
Total | 38,325 | ||
Accumulated Depreciation | $ (779) | ||
Rental Housing Properties: | Affordable Housing | Indianapolis, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 18,484 | ||
Initial Cost, Land and Land Improvements | 6,970 | ||
Initial Cost, Building and Building Improvements | 25,330 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 196 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,970 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 25,526 | ||
Total | 32,496 | ||
Accumulated Depreciation | $ (1,014) | ||
Rental Housing Properties: | Affordable Housing | Lansing, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 2,070 | ||
Initial Cost, Building and Building Improvements | 14,140 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 49 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 61 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,119 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,201 | ||
Total | 16,320 | ||
Accumulated Depreciation | $ (558) | ||
Rental Housing Properties: | Affordable Housing | Oklahoma City, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 8 | ||
Encumbrances | $ 11,843 | ||
Initial Cost, Land and Land Improvements | 15,980 | ||
Initial Cost, Building and Building Improvements | 31,380 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 204 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 15,980 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 31,584 | ||
Total | 47,564 | ||
Accumulated Depreciation | $ (1,312) | ||
Rental Housing Properties: | Affordable Housing | Reno, NV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 6,838 | ||
Initial Cost, Land and Land Improvements | 8,950 | ||
Initial Cost, Building and Building Improvements | 15,340 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 12 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,962 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,349 | ||
Total | 24,311 | ||
Accumulated Depreciation | $ (632) | ||
Rental Housing Properties: | Affordable Housing | San Francisco, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 44,253 | ||
Initial Cost, Land and Land Improvements | 20,800 | ||
Initial Cost, Building and Building Improvements | 80,549 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 75 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 131 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 20,874 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 80,681 | ||
Total | 101,555 | ||
Accumulated Depreciation | $ (3,208) | ||
Rental Housing Properties: | Affordable Housing | Trenton, NJ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 6,351 | ||
Initial Cost, Land and Land Improvements | 4,670 | ||
Initial Cost, Building and Building Improvements | 10,000 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 11 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,670 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,011 | ||
Total | 14,681 | ||
Accumulated Depreciation | $ (407) | ||
Rental Housing Properties: | Affordable Housing | Waco, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,859 | ||
Initial Cost, Land and Land Improvements | 3,520 | ||
Initial Cost, Building and Building Improvements | 13,140 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 11 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 18 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,531 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,157 | ||
Total | 16,688 | ||
Accumulated Depreciation | $ (524) | ||
Rental Housing Properties: | Affordable Housing | Baltimore, MD | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 24,891 | ||
Initial Cost, Land and Land Improvements | 40,030 | ||
Initial Cost, Building and Building Improvements | 45,040 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 15 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 278 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 40,045 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 45,318 | ||
Total | 85,363 | ||
Accumulated Depreciation | $ (1,911) | ||
Rental Housing Properties: | Affordable Housing | Deltona, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 44,454 | ||
Initial Cost, Land and Land Improvements | 13,392 | ||
Initial Cost, Building and Building Improvements | 60,244 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 294 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 13,392 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 60,538 | ||
Total | 73,930 | ||
Accumulated Depreciation | $ (2,201) | ||
Rental Housing Properties: | Affordable Housing | Greeley, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,029 | ||
Initial Cost, Land and Land Improvements | 7,560 | ||
Initial Cost, Building and Building Improvements | 39,533 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,560 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 39,533 | ||
Total | 47,093 | ||
Accumulated Depreciation | $ (1,569) | ||
Rental Housing Properties: | Affordable Housing | Ogden, UT | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 14,289 | ||
Initial Cost, Land and Land Improvements | 8,930 | ||
Initial Cost, Building and Building Improvements | 14,240 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 44 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,933 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,284 | ||
Total | 23,217 | ||
Accumulated Depreciation | $ (583) | ||
Rental Housing Properties: | Affordable Housing | Oxnard, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 41,367 | ||
Initial Cost, Land and Land Improvements | 30,810 | ||
Initial Cost, Building and Building Improvements | 29,870 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 93 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 30,814 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 29,962 | ||
Total | 60,776 | ||
Accumulated Depreciation | $ (1,297) | ||
Rental Housing Properties: | Affordable Housing | Salt Lake City, UT | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 69,574 | ||
Initial Cost, Land and Land Improvements | 25,727 | ||
Initial Cost, Building and Building Improvements | 121,438 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 21 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 845 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 25,748 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 122,284 | ||
Total | 148,032 | ||
Accumulated Depreciation | $ (3,518) | ||
Rental Housing Properties: | Affordable Housing | St. Louis, MO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 29,982 | ||
Initial Cost, Land and Land Improvements | 10,060 | ||
Initial Cost, Building and Building Improvements | 61,696 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 39 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 97 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,099 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 61,793 | ||
Total | 71,892 | ||
Accumulated Depreciation | $ (2,446) | ||
Rental Housing Properties: | Affordable Housing | Tulsa, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 8,779 | ||
Initial Cost, Land and Land Improvements | 9,020 | ||
Initial Cost, Building and Building Improvements | 10,532 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 67 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 213 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,087 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,745 | ||
Total | 19,832 | ||
Accumulated Depreciation | $ (457) | ||
Rental Housing Properties: | Affordable Housing | Adrian, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 2,645 | ||
Initial Cost, Land and Land Improvements | 740 | ||
Initial Cost, Building and Building Improvements | 2,720 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 24 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 743 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,744 | ||
Total | 3,487 | ||
Accumulated Depreciation | $ (109) | ||
Rental Housing Properties: | Affordable Housing | Bakersfield, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 4,611 | ||
Initial Cost, Land and Land Improvements | 6,460 | ||
Initial Cost, Building and Building Improvements | 4,260 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 19 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,460 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,279 | ||
Total | 10,739 | ||
Accumulated Depreciation | $ (192) | ||
Rental Housing Properties: | Affordable Housing | Barnstable Town, MA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,950 | ||
Initial Cost, Land and Land Improvements | 170 | ||
Initial Cost, Building and Building Improvements | 1,640 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 66 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 170 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,706 | ||
Total | 1,876 | ||
Accumulated Depreciation | $ (76) | ||
Rental Housing Properties: | Affordable Housing | Battle Creek, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 1,240 | ||
Initial Cost, Building and Building Improvements | 4,940 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 25 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,240 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,965 | ||
Total | 6,205 | ||
Accumulated Depreciation | $ (197) | ||
Rental Housing Properties: | Affordable Housing | Bloomington, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,975 | ||
Initial Cost, Land and Land Improvements | 2,140 | ||
Initial Cost, Building and Building Improvements | 14,060 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 26 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,140 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,086 | ||
Total | 16,226 | ||
Accumulated Depreciation | $ (555) | ||
Rental Housing Properties: | Affordable Housing | Boise City, ID | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,448 | ||
Initial Cost, Land and Land Improvements | 1,320 | ||
Initial Cost, Building and Building Improvements | 4,710 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 17 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,320 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,727 | ||
Total | 6,047 | ||
Accumulated Depreciation | $ (189) | ||
Rental Housing Properties: | Affordable Housing | Bridgeport, CT | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 375 | ||
Initial Cost, Land and Land Improvements | 600 | ||
Initial Cost, Building and Building Improvements | 310 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 600 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 310 | ||
Total | 910 | ||
Accumulated Depreciation | $ (15) | ||
Rental Housing Properties: | Affordable Housing | Brownsville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 1,198 | ||
Initial Cost, Land and Land Improvements | 3,780 | ||
Initial Cost, Building and Building Improvements | 680 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 12 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,780 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 692 | ||
Total | 4,472 | ||
Accumulated Depreciation | $ (31) | ||
Rental Housing Properties: | Affordable Housing | Canton, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 1,437 | ||
Initial Cost, Land and Land Improvements | 1,940 | ||
Initial Cost, Building and Building Improvements | 13,260 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 63 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,940 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,323 | ||
Total | 15,263 | ||
Accumulated Depreciation | $ (523) | ||
Rental Housing Properties: | Affordable Housing | Cheyenne, WY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 4,670 | ||
Initial Cost, Land and Land Improvements | 8,220 | ||
Initial Cost, Building and Building Improvements | 25,460 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 30 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 155 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,250 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 25,615 | ||
Total | 33,865 | ||
Accumulated Depreciation | $ (1,025) | ||
Rental Housing Properties: | Affordable Housing | Chico, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 9,602 | ||
Initial Cost, Land and Land Improvements | 3,590 | ||
Initial Cost, Building and Building Improvements | 10,890 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 31 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,590 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,921 | ||
Total | 14,511 | ||
Accumulated Depreciation | $ (436) | ||
Rental Housing Properties: | Affordable Housing | Clarksdale, MS | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 381 | ||
Initial Cost, Land and Land Improvements | 710 | ||
Initial Cost, Building and Building Improvements | 1,120 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 710 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,123 | ||
Total | 1,833 | ||
Accumulated Depreciation | $ (46) | ||
Rental Housing Properties: | Affordable Housing | Clearlake, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 4,048 | ||
Initial Cost, Land and Land Improvements | 3,650 | ||
Initial Cost, Building and Building Improvements | 3,030 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 109 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,650 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,139 | ||
Total | 6,789 | ||
Accumulated Depreciation | $ (135) | ||
Rental Housing Properties: | Affordable Housing | Cleveland, MS | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 2,450 | ||
Initial Cost, Building and Building Improvements | 4,340 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 16 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 105 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,466 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,445 | ||
Total | 6,911 | ||
Accumulated Depreciation | $ (182) | ||
Rental Housing Properties: | Affordable Housing | Cleveland, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 13,650 | ||
Initial Cost, Land and Land Improvements | 3,460 | ||
Initial Cost, Building and Building Improvements | 20,280 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 85 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,461 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 20,365 | ||
Total | 23,826 | ||
Accumulated Depreciation | $ (803) | ||
Rental Housing Properties: | Affordable Housing | Crestview, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 10,677 | ||
Initial Cost, Land and Land Improvements | 3,740 | ||
Initial Cost, Building and Building Improvements | 9,750 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 372 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,740 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,122 | ||
Total | 13,862 | ||
Accumulated Depreciation | $ (401) | ||
Rental Housing Properties: | Affordable Housing | Decatur, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 443 | ||
Initial Cost, Land and Land Improvements | 980 | ||
Initial Cost, Building and Building Improvements | 3,580 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 25 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 980 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,605 | ||
Total | 4,585 | ||
Accumulated Depreciation | $ (143) | ||
Rental Housing Properties: | Affordable Housing | Des Moines, IA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 10,719 | ||
Initial Cost, Land and Land Improvements | 3,790 | ||
Initial Cost, Building and Building Improvements | 20,550 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 127 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,790 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 20,677 | ||
Total | 24,467 | ||
Accumulated Depreciation | $ (815) | ||
Rental Housing Properties: | Affordable Housing | Detroit, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 7 | ||
Encumbrances | $ 36,033 | ||
Initial Cost, Land and Land Improvements | 8,050 | ||
Initial Cost, Building and Building Improvements | 63,390 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 354 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,053 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 63,743 | ||
Total | 71,796 | ||
Accumulated Depreciation | $ (2,514) | ||
Rental Housing Properties: | Affordable Housing | Douglas, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 810 | ||
Initial Cost, Building and Building Improvements | 1,290 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 810 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,293 | ||
Total | 2,103 | ||
Accumulated Depreciation | $ (54) | ||
Rental Housing Properties: | Affordable Housing | Duluth, MN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 5,231 | ||
Initial Cost, Land and Land Improvements | 500 | ||
Initial Cost, Building and Building Improvements | 11,820 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 500 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,841 | ||
Total | 12,341 | ||
Accumulated Depreciation | $ (463) | ||
Rental Housing Properties: | Affordable Housing | Durant, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,050 | ||
Initial Cost, Land and Land Improvements | 1,260 | ||
Initial Cost, Building and Building Improvements | 130 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,260 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 132 | ||
Total | 1,392 | ||
Accumulated Depreciation | $ (11) | ||
Rental Housing Properties: | Affordable Housing | El Centro, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 7,246 | ||
Initial Cost, Land and Land Improvements | 6,260 | ||
Initial Cost, Building and Building Improvements | 4,200 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 95 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,260 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,294 | ||
Total | 10,554 | ||
Accumulated Depreciation | $ (191) | ||
Rental Housing Properties: | Affordable Housing | El Paso, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 5,980 | ||
Initial Cost, Building and Building Improvements | 11,960 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 44 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,980 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,004 | ||
Total | 17,984 | ||
Accumulated Depreciation | $ (489) | ||
Rental Housing Properties: | Affordable Housing | Enterprise, AL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 894 | ||
Initial Cost, Land and Land Improvements | 2,520 | ||
Initial Cost, Building and Building Improvements | 4,490 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 22 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,525 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,512 | ||
Total | 7,037 | ||
Accumulated Depreciation | $ (186) | ||
Rental Housing Properties: | Affordable Housing | Evanston, WY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 2,070 | ||
Initial Cost, Building and Building Improvements | 1,790 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,070 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,790 | ||
Total | 3,860 | ||
Accumulated Depreciation | $ (78) | ||
Rental Housing Properties: | Affordable Housing | Evansville, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 2,774 | ||
Initial Cost, Land and Land Improvements | 1,280 | ||
Initial Cost, Building and Building Improvements | 2,310 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 22 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,280 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,332 | ||
Total | 3,612 | ||
Accumulated Depreciation | $ (97) | ||
Rental Housing Properties: | Affordable Housing | Fort Smith, AR | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 350 | ||
Initial Cost, Building and Building Improvements | 380 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 25 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 350 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 405 | ||
Total | 755 | ||
Accumulated Depreciation | $ (17) | ||
Rental Housing Properties: | Affordable Housing | Gillette, WY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 2,650 | ||
Initial Cost, Building and Building Improvements | 2,580 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,650 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,581 | ||
Total | 5,231 | ||
Accumulated Depreciation | $ (105) | ||
Rental Housing Properties: | Affordable Housing | Grand Rapids, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 1,250 | ||
Initial Cost, Building and Building Improvements | 2,220 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 102 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,250 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,322 | ||
Total | 3,572 | ||
Accumulated Depreciation | $ (95) | ||
Rental Housing Properties: | Affordable Housing | Greenville, MS | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 2,260 | ||
Initial Cost, Building and Building Improvements | 2,320 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 17 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 39 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,277 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,359 | ||
Total | 4,636 | ||
Accumulated Depreciation | $ (101) | ||
Rental Housing Properties: | Affordable Housing | Greenwood, MS | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 1,480 | ||
Initial Cost, Building and Building Improvements | 2,990 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 15 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 68 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,495 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,058 | ||
Total | 4,553 | ||
Accumulated Depreciation | $ (124) | ||
Rental Housing Properties: | Affordable Housing | Hammond, LA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 2,145 | ||
Initial Cost, Land and Land Improvements | 2,900 | ||
Initial Cost, Building and Building Improvements | 5,435 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 32 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,900 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,467 | ||
Total | 8,367 | ||
Accumulated Depreciation | $ (224) | ||
Rental Housing Properties: | Affordable Housing | Hanford, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 1,635 | ||
Initial Cost, Land and Land Improvements | 5,780 | ||
Initial Cost, Building and Building Improvements | 1,820 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 75 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 59 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,855 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,879 | ||
Total | 7,734 | ||
Accumulated Depreciation | $ (98) | ||
Rental Housing Properties: | Affordable Housing | Harrisburg, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 18,744 | ||
Initial Cost, Land and Land Improvements | 9,690 | ||
Initial Cost, Building and Building Improvements | 19,080 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 32 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 178 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,722 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,258 | ||
Total | 28,980 | ||
Accumulated Depreciation | $ (783) | ||
Rental Housing Properties: | Affordable Housing | Hartford, CT | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 3,596 | ||
Initial Cost, Land and Land Improvements | 3,200 | ||
Initial Cost, Building and Building Improvements | 3,350 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,200 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,354 | ||
Total | 6,554 | ||
Accumulated Depreciation | $ (143) | ||
Rental Housing Properties: | Affordable Housing | Heber, UT | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 16,975 | ||
Initial Cost, Land and Land Improvements | 8,450 | ||
Initial Cost, Building and Building Improvements | 19,660 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 13 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 46 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,463 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,705 | ||
Total | 28,168 | ||
Accumulated Depreciation | $ (797) | ||
Rental Housing Properties: | Affordable Housing | Indianola, MS | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 297 | ||
Initial Cost, Land and Land Improvements | 1,510 | ||
Initial Cost, Building and Building Improvements | 4,010 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 40 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,515 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,050 | ||
Total | 5,565 | ||
Accumulated Depreciation | $ (162) | ||
Rental Housing Properties: | Affordable Housing | Jackson, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 2,171 | ||
Initial Cost, Land and Land Improvements | 2,280 | ||
Initial Cost, Building and Building Improvements | 4,200 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 22 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,280 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,222 | ||
Total | 6,502 | ||
Accumulated Depreciation | $ (175) | ||
Rental Housing Properties: | Affordable Housing | Jackson, MS | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 335 | ||
Initial Cost, Land and Land Improvements | 4,350 | ||
Initial Cost, Building and Building Improvements | 4,690 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 10 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 136 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,360 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,826 | ||
Total | 9,186 | ||
Accumulated Depreciation | $ (204) | ||
Rental Housing Properties: | Affordable Housing | Johnson City, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,222 | ||
Initial Cost, Land and Land Improvements | 1,450 | ||
Initial Cost, Building and Building Improvements | 2,890 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,450 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,890 | ||
Total | 4,340 | ||
Accumulated Depreciation | $ (118) | ||
Rental Housing Properties: | Affordable Housing | Killeen, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 4,880 | ||
Initial Cost, Land and Land Improvements | 5,060 | ||
Initial Cost, Building and Building Improvements | 6,140 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 9 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 47 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,069 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,187 | ||
Total | 11,256 | ||
Accumulated Depreciation | $ (262) | ||
Rental Housing Properties: | Affordable Housing | La Crosse, WI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 379 | ||
Initial Cost, Land and Land Improvements | 290 | ||
Initial Cost, Building and Building Improvements | 870 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 290 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 870 | ||
Total | 1,160 | ||
Accumulated Depreciation | $ (35) | ||
Rental Housing Properties: | Affordable Housing | Lake Havasu City, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 2,444 | ||
Initial Cost, Land and Land Improvements | 4,180 | ||
Initial Cost, Building and Building Improvements | 4,360 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 10 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,180 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,370 | ||
Total | 8,550 | ||
Accumulated Depreciation | $ (187) | ||
Rental Housing Properties: | Affordable Housing | Lancaster, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 11,066 | ||
Initial Cost, Land and Land Improvements | 7,910 | ||
Initial Cost, Building and Building Improvements | 15,330 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 14 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 285 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,924 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,615 | ||
Total | 23,539 | ||
Accumulated Depreciation | $ (632) | ||
Rental Housing Properties: | Affordable Housing | Las Cruces, NM | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,493 | ||
Initial Cost, Land and Land Improvements | 3,350 | ||
Initial Cost, Building and Building Improvements | 310 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 10 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,350 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 320 | ||
Total | 3,670 | ||
Accumulated Depreciation | $ (27) | ||
Rental Housing Properties: | Affordable Housing | Lawrence, KS | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,090 | ||
Initial Cost, Land and Land Improvements | 1,780 | ||
Initial Cost, Building and Building Improvements | 11,040 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 39 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,782 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,079 | ||
Total | 12,861 | ||
Accumulated Depreciation | $ (436) | ||
Rental Housing Properties: | Affordable Housing | Lawton, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 2,375 | ||
Initial Cost, Land and Land Improvements | 3,270 | ||
Initial Cost, Building and Building Improvements | 2,370 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 19 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,270 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,389 | ||
Total | 5,659 | ||
Accumulated Depreciation | $ (107) | ||
Rental Housing Properties: | Affordable Housing | Lincoln, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,180 | ||
Initial Cost, Land and Land Improvements | 340 | ||
Initial Cost, Building and Building Improvements | 1,080 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 24 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 38 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 364 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,118 | ||
Total | 1,482 | ||
Accumulated Depreciation | $ (45) | ||
Rental Housing Properties: | Affordable Housing | Lincoln, NE | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 16,964 | ||
Initial Cost, Land and Land Improvements | 5,830 | ||
Initial Cost, Building and Building Improvements | 33,790 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 221 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,832 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 34,011 | ||
Total | 39,843 | ||
Accumulated Depreciation | $ (1,338) | ||
Rental Housing Properties: | Affordable Housing | Little Rock, AR | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 5,110 | ||
Initial Cost, Building and Building Improvements | 13,690 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 47 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,110 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,737 | ||
Total | 18,847 | ||
Accumulated Depreciation | $ (542) | ||
Rental Housing Properties: | Affordable Housing | Longview, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 5,356 | ||
Initial Cost, Land and Land Improvements | 3,690 | ||
Initial Cost, Building and Building Improvements | 1,780 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 18 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 155 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,708 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,935 | ||
Total | 5,643 | ||
Accumulated Depreciation | $ (90) | ||
Rental Housing Properties: | Affordable Housing | Macomb, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 198 | ||
Initial Cost, Land and Land Improvements | 695 | ||
Initial Cost, Building and Building Improvements | 1,931 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 39 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 695 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,969 | ||
Total | 2,664 | ||
Accumulated Depreciation | $ (37) | ||
Rental Housing Properties: | Affordable Housing | Macon, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 5,312 | ||
Initial Cost, Land and Land Improvements | 210 | ||
Initial Cost, Building and Building Improvements | 2,070 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 112 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 212 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,182 | ||
Total | 2,394 | ||
Accumulated Depreciation | $ (96) | ||
Rental Housing Properties: | Affordable Housing | Madera, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 3,779 | ||
Initial Cost, Land and Land Improvements | 1,750 | ||
Initial Cost, Building and Building Improvements | 1,530 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 37 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,750 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,567 | ||
Total | 3,317 | ||
Accumulated Depreciation | $ (67) | ||
Rental Housing Properties: | Affordable Housing | Marion, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 1,820 | ||
Initial Cost, Building and Building Improvements | 5,690 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 49 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 23 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,869 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,713 | ||
Total | 7,582 | ||
Accumulated Depreciation | $ (232) | ||
Rental Housing Properties: | Affordable Housing | McAllen, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,622 | ||
Initial Cost, Land and Land Improvements | 0 | ||
Initial Cost, Building and Building Improvements | 2,798 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 14 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 11 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,809 | ||
Total | 2,823 | ||
Accumulated Depreciation | $ (98) | ||
Rental Housing Properties: | Affordable Housing | Memphis, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 5,526 | ||
Initial Cost, Land and Land Improvements | 2,600 | ||
Initial Cost, Building and Building Improvements | 7,649 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 17 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 161 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,617 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,811 | ||
Total | 10,428 | ||
Accumulated Depreciation | $ (296) | ||
Rental Housing Properties: | Affordable Housing | Midland, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 3,610 | ||
Initial Cost, Building and Building Improvements | 6,940 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 28 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,614 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,968 | ||
Total | 10,582 | ||
Accumulated Depreciation | $ (284) | ||
Rental Housing Properties: | Affordable Housing | Milwaukee, WI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,150 | ||
Initial Cost, Land and Land Improvements | 1,130 | ||
Initial Cost, Building and Building Improvements | 7,290 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 10 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,130 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,300 | ||
Total | 8,430 | ||
Accumulated Depreciation | $ (288) | ||
Rental Housing Properties: | Affordable Housing | Monroe, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 2,160 | ||
Initial Cost, Building and Building Improvements | 14,750 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 91 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 33 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,251 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,783 | ||
Total | 17,034 | ||
Accumulated Depreciation | $ (583) | ||
Rental Housing Properties: | Affordable Housing | Morristown, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 290 | ||
Initial Cost, Building and Building Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 290 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 0 | ||
Total | 290 | ||
Accumulated Depreciation | $ 0 | ||
Rental Housing Properties: | Affordable Housing | Mount Vernon, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 1,750 | ||
Initial Cost, Building and Building Improvements | 4,350 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 49 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,753 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,399 | ||
Total | 6,152 | ||
Accumulated Depreciation | $ (178) | ||
Rental Housing Properties: | Affordable Housing | Muskegon, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 6,168 | ||
Initial Cost, Land and Land Improvements | 1,960 | ||
Initial Cost, Building and Building Improvements | 9,920 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 27 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 12 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,987 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,932 | ||
Total | 11,919 | ||
Accumulated Depreciation | $ (394) | ||
Rental Housing Properties: | Affordable Housing | Muskogee, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 322 | ||
Initial Cost, Land and Land Improvements | 190 | ||
Initial Cost, Building and Building Improvements | 20 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 190 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 24 | ||
Total | 214 | ||
Accumulated Depreciation | $ (2) | ||
Rental Housing Properties: | Affordable Housing | New Castle, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 132 | ||
Initial Cost, Land and Land Improvements | 580 | ||
Initial Cost, Building and Building Improvements | 880 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 580 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 889 | ||
Total | 1,469 | ||
Accumulated Depreciation | $ (37) | ||
Rental Housing Properties: | Affordable Housing | New Orleans, LA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 26,579 | ||
Initial Cost, Land and Land Improvements | 6,650 | ||
Initial Cost, Building and Building Improvements | 36,050 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,650 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 36,071 | ||
Total | 42,721 | ||
Accumulated Depreciation | $ (1,426) | ||
Rental Housing Properties: | Affordable Housing | Omaha, NE | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 3,970 | ||
Initial Cost, Building and Building Improvements | 21,410 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 13 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 73 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,983 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,483 | ||
Total | 25,466 | ||
Accumulated Depreciation | $ (935) | ||
Rental Housing Properties: | Affordable Housing | Other U.S. | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 13 | ||
Encumbrances | $ 6,562 | ||
Initial Cost, Land and Land Improvements | 24,570 | ||
Initial Cost, Building and Building Improvements | 13,706 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 61 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,014 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 24,631 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,720 | ||
Total | 39,351 | ||
Accumulated Depreciation | $ (662) | ||
Rental Housing Properties: | Affordable Housing | Ottawa, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 6,839 | ||
Initial Cost, Land and Land Improvements | 1,890 | ||
Initial Cost, Building and Building Improvements | 5,360 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 91 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,890 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,451 | ||
Total | 7,341 | ||
Accumulated Depreciation | $ (218) | ||
Rental Housing Properties: | Affordable Housing | Pensacola, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 8,793 | ||
Initial Cost, Land and Land Improvements | 3,330 | ||
Initial Cost, Building and Building Improvements | 6,590 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 64 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,331 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,654 | ||
Total | 9,985 | ||
Accumulated Depreciation | $ (271) | ||
Rental Housing Properties: | Affordable Housing | Plymouth, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 3,271 | ||
Initial Cost, Land and Land Improvements | 1,030 | ||
Initial Cost, Building and Building Improvements | 4,850 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,030 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,871 | ||
Total | 5,901 | ||
Accumulated Depreciation | $ (193) | ||
Rental Housing Properties: | Affordable Housing | Rapid City, SD | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 2,586 | ||
Initial Cost, Land and Land Improvements | 2,590 | ||
Initial Cost, Building and Building Improvements | 14,550 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 35 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,590 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,585 | ||
Total | 17,175 | ||
Accumulated Depreciation | $ (575) | ||
Rental Housing Properties: | Affordable Housing | Red Bluff, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 3,273 | ||
Initial Cost, Land and Land Improvements | 4,990 | ||
Initial Cost, Building and Building Improvements | 2,770 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 44 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,990 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,814 | ||
Total | 7,804 | ||
Accumulated Depreciation | $ (129) | ||
Rental Housing Properties: | Affordable Housing | Redding, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,966 | ||
Initial Cost, Land and Land Improvements | 3,460 | ||
Initial Cost, Building and Building Improvements | 3,240 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 44 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,460 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,284 | ||
Total | 6,744 | ||
Accumulated Depreciation | $ (140) | ||
Rental Housing Properties: | Affordable Housing | Roanoke, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 320 | ||
Initial Cost, Building and Building Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 320 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 0 | ||
Total | 320 | ||
Accumulated Depreciation | $ 0 | ||
Rental Housing Properties: | Affordable Housing | Salinas, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 37,729 | ||
Initial Cost, Land and Land Improvements | 22,830 | ||
Initial Cost, Building and Building Improvements | 93,729 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 287 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 22,833 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 94,016 | ||
Total | 116,849 | ||
Accumulated Depreciation | $ (3,725) | ||
Rental Housing Properties: | Affordable Housing | Salisbury, MD | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 2,972 | ||
Initial Cost, Land and Land Improvements | 4,240 | ||
Initial Cost, Building and Building Improvements | 3,860 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 83 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 32 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,323 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,892 | ||
Total | 8,215 | ||
Accumulated Depreciation | $ (171) | ||
Rental Housing Properties: | Affordable Housing | San Jose, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 33,205 | ||
Initial Cost, Land and Land Improvements | 9,130 | ||
Initial Cost, Building and Building Improvements | 125,089 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 22 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 990 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,152 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 126,080 | ||
Total | 135,232 | ||
Accumulated Depreciation | $ (4,937) | ||
Rental Housing Properties: | Affordable Housing | San Luis Obispo, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 19,634 | ||
Initial Cost, Land and Land Improvements | 11,650 | ||
Initial Cost, Building and Building Improvements | 25,910 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 236 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,650 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 26,146 | ||
Total | 37,796 | ||
Accumulated Depreciation | $ (1,053) | ||
Rental Housing Properties: | Affordable Housing | Santa Fe, NM | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 8,607 | ||
Initial Cost, Land and Land Improvements | 4,800 | ||
Initial Cost, Building and Building Improvements | 9,480 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 20 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 269 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,820 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,749 | ||
Total | 14,569 | ||
Accumulated Depreciation | $ (392) | ||
Rental Housing Properties: | Affordable Housing | Santa Maria, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,340 | ||
Initial Cost, Land and Land Improvements | 10,460 | ||
Initial Cost, Building and Building Improvements | 49,460 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,004 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,460 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 50,464 | ||
Total | 60,924 | ||
Accumulated Depreciation | $ (1,971) | ||
Rental Housing Properties: | Affordable Housing | Shawnee, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 659 | ||
Initial Cost, Land and Land Improvements | 550 | ||
Initial Cost, Building and Building Improvements | 460 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 25 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 555 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 485 | ||
Total | 1,040 | ||
Accumulated Depreciation | $ (22) | ||
Rental Housing Properties: | Affordable Housing | Sheridan, WY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 2,640 | ||
Initial Cost, Land and Land Improvements | 3,440 | ||
Initial Cost, Building and Building Improvements | 4,635 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 18 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,440 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,654 | ||
Total | 8,094 | ||
Accumulated Depreciation | $ (195) | ||
Rental Housing Properties: | Affordable Housing | Sherman, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,327 | ||
Initial Cost, Land and Land Improvements | 2,660 | ||
Initial Cost, Building and Building Improvements | 1,570 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 14 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 47 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,674 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,617 | ||
Total | 4,291 | ||
Accumulated Depreciation | $ (74) | ||
Rental Housing Properties: | Affordable Housing | Show Low, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,817 | ||
Initial Cost, Land and Land Improvements | 1,360 | ||
Initial Cost, Building and Building Improvements | 660 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 34 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,394 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 664 | ||
Total | 2,058 | ||
Accumulated Depreciation | $ (33) | ||
Rental Housing Properties: | Affordable Housing | Sierra Vista, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 928 | ||
Initial Cost, Land and Land Improvements | 2,190 | ||
Initial Cost, Building and Building Improvements | 410 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 14 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,191 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 424 | ||
Total | 2,615 | ||
Accumulated Depreciation | $ (26) | ||
Rental Housing Properties: | Affordable Housing | South Bend, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 2,654 | ||
Initial Cost, Land and Land Improvements | 2,190 | ||
Initial Cost, Building and Building Improvements | 5,340 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 22 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,190 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,362 | ||
Total | 7,552 | ||
Accumulated Depreciation | $ (218) | ||
Rental Housing Properties: | Affordable Housing | Spartanburg, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 8,375 | ||
Initial Cost, Land and Land Improvements | 4,700 | ||
Initial Cost, Building and Building Improvements | 8,200 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 45 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 58 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,745 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,258 | ||
Total | 13,003 | ||
Accumulated Depreciation | $ (340) | ||
Rental Housing Properties: | Affordable Housing | Sterling, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 3,496 | ||
Initial Cost, Land and Land Improvements | 1,940 | ||
Initial Cost, Building and Building Improvements | 1,620 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 47 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,940 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,667 | ||
Total | 3,607 | ||
Accumulated Depreciation | $ (71) | ||
Rental Housing Properties: | Affordable Housing | Truckee, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 11,662 | ||
Initial Cost, Land and Land Improvements | 4,310 | ||
Initial Cost, Building and Building Improvements | 12,150 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,310 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,171 | ||
Total | 16,481 | ||
Accumulated Depreciation | $ (488) | ||
Rental Housing Properties: | Affordable Housing | Tyler, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 4,866 | ||
Initial Cost, Land and Land Improvements | 6,310 | ||
Initial Cost, Building and Building Improvements | 18,010 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 77 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 14 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,387 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,024 | ||
Total | 24,411 | ||
Accumulated Depreciation | $ (727) | ||
Rental Housing Properties: | Affordable Housing | Vidalia, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 236 | ||
Initial Cost, Land and Land Improvements | 1,270 | ||
Initial Cost, Building and Building Improvements | 2,390 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 23 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,270 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,413 | ||
Total | 3,683 | ||
Accumulated Depreciation | $ (99) | ||
Rental Housing Properties: | Affordable Housing | Vineland, NJ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 7,752 | ||
Initial Cost, Land and Land Improvements | 7,080 | ||
Initial Cost, Building and Building Improvements | 3,800 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,080 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,800 | ||
Total | 10,880 | ||
Accumulated Depreciation | $ (177) | ||
Rental Housing Properties: | Affordable Housing | Visalia, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 3,069 | ||
Initial Cost, Land and Land Improvements | 6,950 | ||
Initial Cost, Building and Building Improvements | 4,650 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 20 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,950 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,670 | ||
Total | 11,620 | ||
Accumulated Depreciation | $ (211) | ||
Rental Housing Properties: | Affordable Housing | Wilson, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 2,097 | ||
Initial Cost, Land and Land Improvements | 1,130 | ||
Initial Cost, Building and Building Improvements | 1,000 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 45 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,130 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,045 | ||
Total | 2,175 | ||
Accumulated Depreciation | $ (45) | ||
Rental Housing Properties: | Affordable Housing | Worcester, MA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 3,350 | ||
Initial Cost, Building and Building Improvements | 4,970 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 125 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,350 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,095 | ||
Total | 8,445 | ||
Accumulated Depreciation | $ (210) | ||
Rental Housing Properties: | Affordable Housing | Yuba City, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 3,640 | ||
Initial Cost, Land and Land Improvements | 5,660 | ||
Initial Cost, Building and Building Improvements | 1,800 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 36 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,660 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,836 | ||
Total | 7,496 | ||
Accumulated Depreciation | $ (94) | ||
Industrial Properties: | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1,062 | ||
Encumbrances | $ 12,342,814 | ||
Initial Cost, Land and Land Improvements | 3,217,676 | ||
Initial Cost, Building and Building Improvements | 13,939,665 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 49,638 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 487,703 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,267,313 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,427,364 | ||
Total | 17,694,677 | ||
Accumulated Depreciation | $ (1,492,751) | ||
Industrial Properties: | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 131 | ||
Encumbrances | $ 891,501 | ||
Initial Cost, Land and Land Improvements | 245,537 | ||
Initial Cost, Building and Building Improvements | 1,109,723 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 111 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 40,486 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 245,648 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,150,209 | ||
Total | 1,395,857 | ||
Accumulated Depreciation | $ (107,259) | ||
Industrial Properties: | Austin, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 70 | ||
Encumbrances | $ 986,346 | ||
Initial Cost, Land and Land Improvements | 194,008 | ||
Initial Cost, Building and Building Improvements | 1,180,893 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 21,626 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 85,607 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 215,634 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,266,500 | ||
Total | 1,482,134 | ||
Accumulated Depreciation | $ (124,763) | ||
Industrial Properties: | Boston, MA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 48,400 | ||
Initial Cost, Land and Land Improvements | 0 | ||
Initial Cost, Building and Building Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 0 | ||
Total | 0 | ||
Accumulated Depreciation | $ 0 | ||
Industrial Properties: | Charlotte, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 12 | ||
Encumbrances | $ 105,615 | ||
Initial Cost, Land and Land Improvements | 34,151 | ||
Initial Cost, Building and Building Improvements | 123,013 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2,318 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,020 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 36,469 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 125,034 | ||
Total | 161,503 | ||
Accumulated Depreciation | $ (8,098) | ||
Industrial Properties: | Chicago, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 122 | ||
Encumbrances | $ 1,402,395 | ||
Initial Cost, Land and Land Improvements | 414,668 | ||
Initial Cost, Building and Building Improvements | 1,503,509 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 48,632 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 414,668 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,552,141 | ||
Total | 1,966,809 | ||
Accumulated Depreciation | $ (180,683) | ||
Industrial Properties: | Columbus, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 24 | ||
Encumbrances | $ 431,045 | ||
Initial Cost, Land and Land Improvements | 59,377 | ||
Initial Cost, Building and Building Improvements | 501,415 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 14,168 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 59,377 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 515,583 | ||
Total | 574,960 | ||
Accumulated Depreciation | $ (44,991) | ||
Industrial Properties: | Denver, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 19 | ||
Encumbrances | $ 252,059 | ||
Initial Cost, Land and Land Improvements | 58,711 | ||
Initial Cost, Building and Building Improvements | 280,534 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7,580 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 58,711 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 288,114 | ||
Total | 346,825 | ||
Accumulated Depreciation | $ (38,546) | ||
Industrial Properties: | Durham, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 91,916 | ||
Initial Cost, Land and Land Improvements | 14,086 | ||
Initial Cost, Building and Building Improvements | 82,432 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,190 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,086 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 85,622 | ||
Total | 99,708 | ||
Accumulated Depreciation | $ (5,790) | ||
Industrial Properties: | Greenville, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 3,365 | ||
Initial Cost, Land and Land Improvements | 1,165 | ||
Initial Cost, Building and Building Improvements | 4,788 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 733 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,165 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,521 | ||
Total | 6,686 | ||
Accumulated Depreciation | $ (958) | ||
Industrial Properties: | Houston, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 26 | ||
Encumbrances | $ 277,921 | ||
Initial Cost, Land and Land Improvements | 54,571 | ||
Initial Cost, Building and Building Improvements | 318,300 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 11,681 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 54,571 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 329,982 | ||
Total | 384,553 | ||
Accumulated Depreciation | $ (36,154) | ||
Industrial Properties: | Jacksonville, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 14 | ||
Encumbrances | $ 116,167 | ||
Initial Cost, Land and Land Improvements | 29,510 | ||
Initial Cost, Building and Building Improvements | 168,062 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9,062 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 29,510 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 177,124 | ||
Total | 206,634 | ||
Accumulated Depreciation | $ (22,144) | ||
Industrial Properties: | Kansas City, MO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 20,334 | ||
Initial Cost, Land and Land Improvements | 3,954 | ||
Initial Cost, Building and Building Improvements | 25,368 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,490 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,954 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 26,858 | ||
Total | 30,812 | ||
Accumulated Depreciation | $ (4,666) | ||
Industrial Properties: | Lakeland, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 9 | ||
Encumbrances | $ 158,726 | ||
Initial Cost, Land and Land Improvements | 27,509 | ||
Initial Cost, Building and Building Improvements | 158,492 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,855 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 27,509 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 165,346 | ||
Total | 192,855 | ||
Accumulated Depreciation | $ (22,894) | ||
Industrial Properties: | Las Vegas, NV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 13 | ||
Encumbrances | $ 335,227 | ||
Initial Cost, Land and Land Improvements | 101,598 | ||
Initial Cost, Building and Building Improvements | 485,923 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,808 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 101,598 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 487,731 | ||
Total | 589,329 | ||
Accumulated Depreciation | $ (31,000) | ||
Industrial Properties: | Los Angeles, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 8 | ||
Encumbrances | $ 194,762 | ||
Initial Cost, Land and Land Improvements | 120,900 | ||
Initial Cost, Building and Building Improvements | 165,462 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,278 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 120,900 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 167,740 | ||
Total | 288,640 | ||
Accumulated Depreciation | $ (15,771) | ||
Industrial Properties: | Louisville, KY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 10 | ||
Encumbrances | $ 176,990 | ||
Initial Cost, Land and Land Improvements | 37,105 | ||
Initial Cost, Building and Building Improvements | 210,492 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,835 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 37,105 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 215,327 | ||
Total | 252,432 | ||
Accumulated Depreciation | $ (22,739) | ||
Industrial Properties: | Miami, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 22 | ||
Encumbrances | $ 200,835 | ||
Initial Cost, Land and Land Improvements | 84,049 | ||
Initial Cost, Building and Building Improvements | 215,712 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 12,446 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 84,049 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 228,158 | ||
Total | 312,207 | ||
Accumulated Depreciation | $ (15,717) | ||
Industrial Properties: | Minneapolis, MN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 57 | ||
Encumbrances | $ 536,787 | ||
Initial Cost, Land and Land Improvements | 126,456 | ||
Initial Cost, Building and Building Improvements | 472,655 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 12,772 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 126,456 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 485,427 | ||
Total | 611,883 | ||
Accumulated Depreciation | $ (51,926) | ||
Industrial Properties: | Nashville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 80,851 | ||
Initial Cost, Land and Land Improvements | 53,493 | ||
Initial Cost, Building and Building Improvements | 82,475 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,731 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,971 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 55,224 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 85,445 | ||
Total | 140,669 | ||
Accumulated Depreciation | $ (10,358) | ||
Industrial Properties: | New York, NY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 35 | ||
Encumbrances | $ 396,352 | ||
Initial Cost, Land and Land Improvements | 132,481 | ||
Initial Cost, Building and Building Improvements | 400,350 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2,225 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 28,617 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 134,705 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 428,967 | ||
Total | 563,672 | ||
Accumulated Depreciation | $ (33,498) | ||
Industrial Properties: | Orlando, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 32 | ||
Encumbrances | $ 337,258 | ||
Initial Cost, Land and Land Improvements | 75,273 | ||
Initial Cost, Building and Building Improvements | 366,388 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 13,675 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 75,273 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 380,064 | ||
Total | 455,337 | ||
Accumulated Depreciation | $ (48,582) | ||
Industrial Properties: | Philadelphia, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 18 | ||
Encumbrances | $ 324,228 | ||
Initial Cost, Land and Land Improvements | 86,917 | ||
Initial Cost, Building and Building Improvements | 300,013 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3,018 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 10,119 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 89,936 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 310,131 | ||
Total | 400,067 | ||
Accumulated Depreciation | $ (19,044) | ||
Industrial Properties: | Phoenix, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 24,435 | ||
Initial Cost, Land and Land Improvements | 6,364 | ||
Initial Cost, Building and Building Improvements | 38,704 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 686 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,364 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 39,390 | ||
Total | 45,754 | ||
Accumulated Depreciation | $ (2,620) | ||
Industrial Properties: | Portland, OR | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 71,540 | ||
Initial Cost, Land and Land Improvements | 20,135 | ||
Initial Cost, Building and Building Improvements | 72,856 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 23 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 20,135 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 72,878 | ||
Total | 93,013 | ||
Accumulated Depreciation | $ (3,397) | ||
Industrial Properties: | Raleigh, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 9,458 | ||
Initial Cost, Land and Land Improvements | 1,664 | ||
Initial Cost, Building and Building Improvements | 12,051 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 775 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,664 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,825 | ||
Total | 14,489 | ||
Accumulated Depreciation | $ (1,661) | ||
Industrial Properties: | Richmond, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 15 | ||
Encumbrances | $ 114,743 | ||
Initial Cost, Land and Land Improvements | 26,117 | ||
Initial Cost, Building and Building Improvements | 136,655 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 5,235 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 26,117 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 141,890 | ||
Total | 168,007 | ||
Accumulated Depreciation | $ (24,094) | ||
Industrial Properties: | Riverside, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 28 | ||
Encumbrances | $ 468,452 | ||
Initial Cost, Land and Land Improvements | 198,528 | ||
Initial Cost, Building and Building Improvements | 487,378 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 10,186 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21,243 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 208,713 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 508,621 | ||
Total | 717,334 | ||
Accumulated Depreciation | $ (36,428) | ||
Industrial Properties: | Sacramento, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 8,760 | ||
Initial Cost, Land and Land Improvements | 3,625 | ||
Initial Cost, Building and Building Improvements | 23,944 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 37 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,625 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 23,980 | ||
Total | 27,605 | ||
Accumulated Depreciation | $ (2,183) | ||
Industrial Properties: | San Antonio, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 21 | ||
Encumbrances | $ 100,548 | ||
Initial Cost, Land and Land Improvements | 16,182 | ||
Initial Cost, Building and Building Improvements | 104,632 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,906 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,182 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 106,538 | ||
Total | 122,720 | ||
Accumulated Depreciation | $ (10,712) | ||
Industrial Properties: | San Diego, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 64,545 | ||
Initial Cost, Land and Land Improvements | 62,817 | ||
Initial Cost, Building and Building Improvements | 91,305 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 886 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 62,817 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 92,191 | ||
Total | 155,008 | ||
Accumulated Depreciation | $ (5,256) | ||
Industrial Properties: | Savannah, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 60,202 | ||
Initial Cost, Land and Land Improvements | 11,029 | ||
Initial Cost, Building and Building Improvements | 60,627 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9,721 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,029 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 70,348 | ||
Total | 81,377 | ||
Accumulated Depreciation | $ (10,360) | ||
Industrial Properties: | Seattle, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 47,342 | ||
Initial Cost, Land and Land Improvements | 16,739 | ||
Initial Cost, Building and Building Improvements | 59,426 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 818 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,739 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 60,244 | ||
Total | 76,983 | ||
Accumulated Depreciation | $ (7,759) | ||
Industrial Properties: | Stockton, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 108,829 | ||
Initial Cost, Land and Land Improvements | 22,155 | ||
Initial Cost, Building and Building Improvements | 143,986 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 111 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 22,155 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 144,097 | ||
Total | 166,252 | ||
Accumulated Depreciation | $ (16,402) | ||
Industrial Properties: | Tampa, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 36 | ||
Encumbrances | $ 259,298 | ||
Initial Cost, Land and Land Improvements | 55,513 | ||
Initial Cost, Building and Building Improvements | 291,907 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 5,850 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 55,513 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 297,757 | ||
Total | 353,270 | ||
Accumulated Depreciation | $ (30,856) | ||
Industrial Properties: | Virginia Beach, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 10 | ||
Encumbrances | $ 88,074 | ||
Initial Cost, Land and Land Improvements | 19,180 | ||
Initial Cost, Building and Building Improvements | 107,149 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,740 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,180 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 109,889 | ||
Total | 129,069 | ||
Accumulated Depreciation | $ (16,221) | ||
Industrial Properties: | Washington DC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 17 | ||
Encumbrances | $ 164,256 | ||
Initial Cost, Land and Land Improvements | 61,777 | ||
Initial Cost, Building and Building Improvements | 156,041 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 10,337 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 61,777 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 166,379 | ||
Total | 228,156 | ||
Accumulated Depreciation | $ (26,003) | ||
Industrial Properties: | Cincinnati, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 40 | ||
Encumbrances | $ 332,112 | ||
Initial Cost, Land and Land Improvements | 66,844 | ||
Initial Cost, Building and Building Improvements | 462,596 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 15,776 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 66,844 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 478,371 | ||
Total | 545,215 | ||
Accumulated Depreciation | $ (60,582) | ||
Industrial Properties: | Baton Rouge, LA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 19,190 | ||
Initial Cost, Land and Land Improvements | 5,893 | ||
Initial Cost, Building and Building Improvements | 15,035 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,893 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,035 | ||
Total | 20,928 | ||
Accumulated Depreciation | $ (619) | ||
Industrial Properties: | Greensboro, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 46 | ||
Encumbrances | $ 358,372 | ||
Initial Cost, Land and Land Improvements | 74,840 | ||
Initial Cost, Building and Building Improvements | 408,856 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 8,327 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 15,875 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 83,167 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 424,731 | ||
Total | 507,898 | ||
Accumulated Depreciation | $ (40,236) | ||
Industrial Properties: | Indianapolis, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 33 | ||
Encumbrances | $ 472,825 | ||
Initial Cost, Land and Land Improvements | 94,512 | ||
Initial Cost, Building and Building Improvements | 568,868 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7,820 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 94,512 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 576,687 | ||
Total | 671,199 | ||
Accumulated Depreciation | $ (61,168) | ||
Industrial Properties: | Reno, NV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 24 | ||
Encumbrances | $ 179,574 | ||
Initial Cost, Land and Land Improvements | 53,655 | ||
Initial Cost, Building and Building Improvements | 132,836 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,324 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 53,655 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 136,160 | ||
Total | 189,815 | ||
Accumulated Depreciation | $ (24,648) | ||
Industrial Properties: | San Francisco, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 44,890 | ||
Initial Cost, Land and Land Improvements | 29,317 | ||
Initial Cost, Building and Building Improvements | 59,628 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 29,317 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 59,649 | ||
Total | 88,966 | ||
Accumulated Depreciation | $ (3,536) | ||
Industrial Properties: | Baltimore, MD | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 10 | ||
Encumbrances | $ 157,284 | ||
Initial Cost, Land and Land Improvements | 40,372 | ||
Initial Cost, Building and Building Improvements | 179,485 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7,114 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 40,372 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 186,599 | ||
Total | 226,971 | ||
Accumulated Depreciation | $ (13,692) | ||
Industrial Properties: | Deltona, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 8,250 | ||
Initial Cost, Land and Land Improvements | 1,384 | ||
Initial Cost, Building and Building Improvements | 8,312 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 14 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,384 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,325 | ||
Total | 9,709 | ||
Accumulated Depreciation | $ (317) | ||
Industrial Properties: | Oxnard, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 31,495 | ||
Initial Cost, Land and Land Improvements | 12,991 | ||
Initial Cost, Building and Building Improvements | 28,297 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 906 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,991 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 29,203 | ||
Total | 42,194 | ||
Accumulated Depreciation | $ (3,072) | ||
Industrial Properties: | Salt Lake City, UT | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 127,449 | ||
Initial Cost, Land and Land Improvements | 49,003 | ||
Initial Cost, Building and Building Improvements | 161,737 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 96 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9,110 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 49,099 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 170,847 | ||
Total | 219,946 | ||
Accumulated Depreciation | $ (4,142) | ||
Industrial Properties: | El Paso, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 16 | ||
Encumbrances | $ 179,073 | ||
Initial Cost, Land and Land Improvements | 25,142 | ||
Initial Cost, Building and Building Improvements | 172,951 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,843 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 25,142 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 177,795 | ||
Total | 202,937 | ||
Accumulated Depreciation | $ (31,374) | ||
Industrial Properties: | Harrisburg, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 14 | ||
Encumbrances | $ 318,742 | ||
Initial Cost, Land and Land Improvements | 45,788 | ||
Initial Cost, Building and Building Improvements | 377,612 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9,519 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 45,788 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 387,131 | ||
Total | 432,919 | ||
Accumulated Depreciation | $ (69,559) | ||
Industrial Properties: | Lancaster, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 21,110 | ||
Initial Cost, Land and Land Improvements | 3,879 | ||
Initial Cost, Building and Building Improvements | 22,307 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 431 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,879 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 22,738 | ||
Total | 26,617 | ||
Accumulated Depreciation | $ (908) | ||
Industrial Properties: | Memphis, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 16 | ||
Encumbrances | $ 211,394 | ||
Initial Cost, Land and Land Improvements | 38,683 | ||
Initial Cost, Building and Building Improvements | 210,655 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,836 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 38,683 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 215,490 | ||
Total | 254,173 | ||
Accumulated Depreciation | $ (16,952) | ||
Industrial Properties: | Milwaukee, WI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 13 | ||
Encumbrances | $ 138,775 | ||
Initial Cost, Land and Land Improvements | 21,136 | ||
Initial Cost, Building and Building Improvements | 136,025 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,703 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,136 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 139,728 | ||
Total | 160,864 | ||
Accumulated Depreciation | $ (11,713) | ||
Industrial Properties: | Worcester, MA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 56,869 | ||
Initial Cost, Land and Land Improvements | 26,894 | ||
Initial Cost, Building and Building Improvements | 125,022 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,651 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 26,894 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 131,673 | ||
Total | 158,567 | ||
Accumulated Depreciation | $ (6,259) | ||
Industrial Properties: | Allentown, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 44,340 | ||
Initial Cost, Land and Land Improvements | 7,307 | ||
Initial Cost, Building and Building Improvements | 56,511 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 623 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,307 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 57,134 | ||
Total | 64,441 | ||
Accumulated Depreciation | $ (2,966) | ||
Industrial Properties: | Davenport, IA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 13,560 | ||
Initial Cost, Land and Land Improvements | 1,507 | ||
Initial Cost, Building and Building Improvements | 10,471 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,507 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,473 | ||
Total | 11,980 | ||
Accumulated Depreciation | $ (452) | ||
Industrial Properties: | Fond du Lac, WI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 9,430 | ||
Initial Cost, Land and Land Improvements | 954 | ||
Initial Cost, Building and Building Improvements | 9,494 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 954 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,494 | ||
Total | 10,448 | ||
Accumulated Depreciation | $ (641) | ||
Industrial Properties: | Hickory, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 12,570 | ||
Initial Cost, Land and Land Improvements | 2,900 | ||
Initial Cost, Building and Building Improvements | 36,463 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 39 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,900 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 36,502 | ||
Total | 39,402 | ||
Accumulated Depreciation | $ (1,505) | ||
Industrial Properties: | Jefferson, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 78,350 | ||
Initial Cost, Land and Land Improvements | 11,595 | ||
Initial Cost, Building and Building Improvements | 114,330 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,595 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 114,351 | ||
Total | 125,946 | ||
Accumulated Depreciation | $ (8,934) | ||
Industrial Properties: | Racine, WI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 91,830 | ||
Initial Cost, Land and Land Improvements | 14,284 | ||
Initial Cost, Building and Building Improvements | 92,420 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,308 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,284 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 93,728 | ||
Total | 108,012 | ||
Accumulated Depreciation | $ (10,545) | ||
Industrial Properties: | Reading, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 44,486 | ||
Initial Cost, Land and Land Improvements | 10,787 | ||
Initial Cost, Building and Building Improvements | 66,661 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,236 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,787 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 68,897 | ||
Total | 79,684 | ||
Accumulated Depreciation | $ (9,681) | ||
Industrial Properties: | Scranton, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 62,802 | ||
Initial Cost, Land and Land Improvements | 11,403 | ||
Initial Cost, Building and Building Improvements | 74,918 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 383 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,403 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 75,302 | ||
Total | 86,705 | ||
Accumulated Depreciation | $ (7,218) | ||
Industrial Properties: | Vallejo, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 15,187 | ||
Initial Cost, Land and Land Improvements | 14,444 | ||
Initial Cost, Building and Building Improvements | 35,048 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 196 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,444 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 35,244 | ||
Total | 49,688 | ||
Accumulated Depreciation | $ (3,397) | ||
Industrial Properties: | Wausau, WI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,540 | ||
Initial Cost, Land and Land Improvements | 2,375 | ||
Initial Cost, Building and Building Improvements | 4,655 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,375 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,655 | ||
Total | 7,030 | ||
Accumulated Depreciation | $ (225) | ||
Industrial Properties: | Winchester, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 24,321 | ||
Initial Cost, Land and Land Improvements | 5,176 | ||
Initial Cost, Building and Building Improvements | 32,841 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,231 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,176 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 34,072 | ||
Total | 39,248 | ||
Accumulated Depreciation | $ (4,945) | ||
Industrial Properties: | Winston-Salem, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 9 | ||
Encumbrances | $ 48,149 | ||
Initial Cost, Land and Land Improvements | 10,530 | ||
Initial Cost, Building and Building Improvements | 59,609 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,871 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,530 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 63,480 | ||
Total | 74,010 | ||
Accumulated Depreciation | $ (8,043) | ||
Industrial Properties: | York, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 109,959 | ||
Initial Cost, Land and Land Improvements | 21,122 | ||
Initial Cost, Building and Building Improvements | 132,493 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 426 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 21,122 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 132,919 | ||
Total | 154,041 | ||
Accumulated Depreciation | $ (14,759) | ||
Industrial Properties: | Cold Storage Warehouse | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 20,899 | ||
Initial Cost, Land and Land Improvements | 3,134 | ||
Initial Cost, Building and Building Improvements | 30,130 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,740 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,134 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 31,870 | ||
Total | 35,004 | ||
Accumulated Depreciation | $ (5,420) | ||
Industrial Properties: | Cold Storage Warehouse | Austin, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 13,933 | ||
Initial Cost, Land and Land Improvements | 3,132 | ||
Initial Cost, Building and Building Improvements | 19,010 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,246 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,132 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 22,256 | ||
Total | 25,388 | ||
Accumulated Depreciation | $ (3,589) | ||
Industrial Properties: | Cold Storage Warehouse | Stockton, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 65,194 | ||
Initial Cost, Land and Land Improvements | 16,775 | ||
Initial Cost, Building and Building Improvements | 66,079 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 54 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,775 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 66,133 | ||
Total | 82,908 | ||
Accumulated Depreciation | $ (10,486) | ||
Industrial Properties: | Cold Storage Warehouse | San Francisco, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 34,209 | ||
Initial Cost, Land and Land Improvements | 6,785 | ||
Initial Cost, Building and Building Improvements | 46,830 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 991 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,785 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 47,821 | ||
Total | 54,606 | ||
Accumulated Depreciation | $ (6,168) | ||
Industrial Properties: | Cold Storage Warehouse | Baltimore, MD | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 31,089 | ||
Initial Cost, Land and Land Improvements | 5,789 | ||
Initial Cost, Building and Building Improvements | 38,820 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,789 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 38,820 | ||
Total | 44,609 | ||
Accumulated Depreciation | $ (5,467) | ||
Net Lease Properties: | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 6,035,000 | ||
Initial Cost, Land and Land Improvements | 1,789,158 | ||
Initial Cost, Building and Building Improvements | 6,446,966 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 12 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,789,158 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,446,978 | ||
Total | 8,236,136 | ||
Accumulated Depreciation | $ (416,443) | ||
Net Lease Properties: | Las Vegas, NV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 6,035,000 | ||
Initial Cost, Land and Land Improvements | 1,789,158 | ||
Initial Cost, Building and Building Improvements | 6,446,966 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 12 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,789,158 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,446,978 | ||
Total | 8,236,136 | ||
Accumulated Depreciation | $ (416,443) | ||
Data Center Properties: | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 14 | ||
Encumbrances | $ 319,900 | ||
Initial Cost, Land and Land Improvements | 165,368 | ||
Initial Cost, Building and Building Improvements | 681,462 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 266 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 165,368 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 681,728 | ||
Total | 847,096 | ||
Accumulated Depreciation | $ (32,267) | ||
Data Center Properties: | Washington DC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 14 | ||
Encumbrances | $ 319,900 | ||
Initial Cost, Land and Land Improvements | 165,368 | ||
Initial Cost, Building and Building Improvements | 681,462 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 266 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 165,368 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 681,728 | ||
Total | 847,096 | ||
Accumulated Depreciation | $ (32,267) | ||
Hospitality Properties: | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 73 | ||
Encumbrances | $ 1,142,777 | ||
Initial Cost, Land and Land Improvements | 555,256 | ||
Initial Cost, Building and Building Improvements | 2,481,037 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2,876 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 142,620 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 558,132 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,623,657 | ||
Total | 3,181,792 | ||
Accumulated Depreciation | $ (402,299) | ||
Hospitality Properties: | Full Service Hotels | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 243,700 | ||
Initial Cost, Land and Land Improvements | 30,482 | ||
Initial Cost, Building and Building Improvements | 289,353 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 11,793 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 30,482 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 301,146 | ||
Total | 331,628 | ||
Accumulated Depreciation | $ (38,667) | ||
Hospitality Properties: | Full Service Hotels | San Antonio, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 202,500 | ||
Initial Cost, Land and Land Improvements | 84,218 | ||
Initial Cost, Building and Building Improvements | 474,529 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 350 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 22,776 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 84,568 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 497,305 | ||
Total | 581,873 | ||
Accumulated Depreciation | $ (124,451) | ||
Hospitality Properties: | Select Service Hotels | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 21,200 | ||
Initial Cost, Land and Land Improvements | 19,825 | ||
Initial Cost, Building and Building Improvements | 68,875 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 34 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 5,625 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,860 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 74,499 | ||
Total | 94,359 | ||
Accumulated Depreciation | $ (9,641) | ||
Hospitality Properties: | Select Service Hotels | Austin, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 11,031 | ||
Initial Cost, Land and Land Improvements | 59,950 | ||
Initial Cost, Building and Building Improvements | 156,215 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 88 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,518 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 60,038 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 157,733 | ||
Total | 217,771 | ||
Accumulated Depreciation | $ (7,282) | ||
Hospitality Properties: | Select Service Hotels | Boston, MA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 24,700 | ||
Initial Cost, Land and Land Improvements | 1,945 | ||
Initial Cost, Building and Building Improvements | 87,882 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 9 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 559 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,954 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 88,441 | ||
Total | 90,395 | ||
Accumulated Depreciation | $ (9,545) | ||
Hospitality Properties: | Select Service Hotels | Boulder, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 13,256 | ||
Initial Cost, Land and Land Improvements | 5,178 | ||
Initial Cost, Building and Building Improvements | 23,562 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 59 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,666 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,238 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 25,228 | ||
Total | 30,466 | ||
Accumulated Depreciation | $ (2,617) | ||
Hospitality Properties: | Select Service Hotels | Chicago, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 38,810 | ||
Initial Cost, Land and Land Improvements | 14,792 | ||
Initial Cost, Building and Building Improvements | 48,244 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 74 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 13,862 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,866 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 62,106 | ||
Total | 76,972 | ||
Accumulated Depreciation | $ (6,346) | ||
Hospitality Properties: | Select Service Hotels | Denver, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 9,448 | ||
Initial Cost, Land and Land Improvements | 3,950 | ||
Initial Cost, Building and Building Improvements | 10,475 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 20 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,666 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,970 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,141 | ||
Total | 16,111 | ||
Accumulated Depreciation | $ (1,643) | ||
Hospitality Properties: | Select Service Hotels | Durham, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 11,905 | ||
Initial Cost, Land and Land Improvements | 2,809 | ||
Initial Cost, Building and Building Improvements | 12,407 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 22 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,453 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,831 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,861 | ||
Total | 16,692 | ||
Accumulated Depreciation | $ (2,144) | ||
Hospitality Properties: | Select Service Hotels | Las Vegas, NV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 21,400 | ||
Initial Cost, Land and Land Improvements | 3,341 | ||
Initial Cost, Building and Building Improvements | 29,972 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 38 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 350 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,378 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,322 | ||
Total | 33,700 | ||
Accumulated Depreciation | $ (8,586) | ||
Hospitality Properties: | Select Service Hotels | Los Angeles, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 26,240 | ||
Initial Cost, Building and Building Improvements | 53,682 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 12 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 26,252 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 53,682 | ||
Total | 79,934 | ||
Accumulated Depreciation | $ (1,083) | ||
Hospitality Properties: | Select Service Hotels | Miami, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 56,467 | ||
Initial Cost, Land and Land Improvements | 9,333 | ||
Initial Cost, Building and Building Improvements | 54,528 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 65 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 10,696 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,399 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 65,223 | ||
Total | 74,622 | ||
Accumulated Depreciation | $ (7,563) | ||
Hospitality Properties: | Select Service Hotels | Nashville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 25,144 | ||
Initial Cost, Building and Building Improvements | 77,202 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 29 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 25,144 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 77,230 | ||
Total | 102,374 | ||
Accumulated Depreciation | $ (2,451) | ||
Hospitality Properties: | Select Service Hotels | Orlando, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 42,306 | ||
Initial Cost, Land and Land Improvements | 7,564 | ||
Initial Cost, Building and Building Improvements | 48,782 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 70 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,447 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,634 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 51,230 | ||
Total | 58,864 | ||
Accumulated Depreciation | $ (16,163) | ||
Hospitality Properties: | Select Service Hotels | Philadelphia, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 6,007 | ||
Initial Cost, Building and Building Improvements | 43,219 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,007 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 43,219 | ||
Total | 49,226 | ||
Accumulated Depreciation | $ (900) | ||
Hospitality Properties: | Select Service Hotels | Phoenix, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 28,849 | ||
Initial Cost, Land and Land Improvements | 17,099 | ||
Initial Cost, Building and Building Improvements | 49,155 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 199 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,226 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 17,299 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 55,382 | ||
Total | 72,681 | ||
Accumulated Depreciation | $ (10,310) | ||
Hospitality Properties: | Select Service Hotels | Sacramento, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 20,500 | ||
Initial Cost, Land and Land Improvements | 0 | ||
Initial Cost, Building and Building Improvements | 24,778 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 551 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 777 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 551 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 25,555 | ||
Total | 26,106 | ||
Accumulated Depreciation | $ (9,369) | ||
Hospitality Properties: | Select Service Hotels | Seattle, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 17,408 | ||
Initial Cost, Land and Land Improvements | 2,894 | ||
Initial Cost, Building and Building Improvements | 30,395 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,523 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,894 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 31,917 | ||
Total | 34,811 | ||
Accumulated Depreciation | $ (5,228) | ||
Hospitality Properties: | Select Service Hotels | Tampa, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 119,176 | ||
Initial Cost, Land and Land Improvements | 10,256 | ||
Initial Cost, Building and Building Improvements | 54,291 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 125 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,879 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,380 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 61,171 | ||
Total | 71,551 | ||
Accumulated Depreciation | $ (18,693) | ||
Hospitality Properties: | Select Service Hotels | Washington DC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 12,287 | ||
Initial Cost, Land and Land Improvements | 58,282 | ||
Initial Cost, Building and Building Improvements | 116,383 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 9 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,243 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 58,291 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 118,626 | ||
Total | 176,917 | ||
Accumulated Depreciation | $ (3,530) | ||
Hospitality Properties: | Select Service Hotels | Santa Rosa, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 8,300 | ||
Initial Cost, Land and Land Improvements | 2,538 | ||
Initial Cost, Building and Building Improvements | 26,306 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,095 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,538 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 28,401 | ||
Total | 30,939 | ||
Accumulated Depreciation | $ (6,423) | ||
Hospitality Properties: | Select Service Hotels | Reno, NV | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 25,655 | ||
Initial Cost, Land and Land Improvements | 4,167 | ||
Initial Cost, Building and Building Improvements | 45,881 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 84 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,477 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,252 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 49,358 | ||
Total | 53,610 | ||
Accumulated Depreciation | $ (12,250) | ||
Hospitality Properties: | Select Service Hotels | Colorado Springs, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 15,000 | ||
Initial Cost, Land and Land Improvements | 26,247 | ||
Initial Cost, Building and Building Improvements | 58,645 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 92 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7,905 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 26,340 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 66,550 | ||
Total | 92,890 | ||
Accumulated Depreciation | $ (8,226) | ||
Hospitality Properties: | Select Service Hotels | Salt Lake City, UT | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 26,712 | ||
Initial Cost, Land and Land Improvements | 19,676 | ||
Initial Cost, Building and Building Improvements | 127,690 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 256 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9,875 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,932 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 137,565 | ||
Total | 157,497 | ||
Accumulated Depreciation | $ (26,934) | ||
Hospitality Properties: | Select Service Hotels | Bloomington, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 12,069 | ||
Initial Cost, Land and Land Improvements | 0 | ||
Initial Cost, Building and Building Improvements | 24,783 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 7 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,656 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 27,439 | ||
Total | 27,446 | ||
Accumulated Depreciation | $ (3,011) | ||
Hospitality Properties: | Select Service Hotels | Crestview, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 9,884 | ||
Initial Cost, Land and Land Improvements | 1,966 | ||
Initial Cost, Building and Building Improvements | 8,214 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 14 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,200 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,980 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,414 | ||
Total | 12,394 | ||
Accumulated Depreciation | $ (1,201) | ||
Hospitality Properties: | Select Service Hotels | Detroit, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 8,792 | ||
Initial Cost, Land and Land Improvements | 3,014 | ||
Initial Cost, Building and Building Improvements | 14,185 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 45 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,572 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,059 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,757 | ||
Total | 19,816 | ||
Accumulated Depreciation | $ (2,005) | ||
Hospitality Properties: | Select Service Hotels | San Jose, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 65,855 | ||
Initial Cost, Land and Land Improvements | 33,812 | ||
Initial Cost, Building and Building Improvements | 93,092 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 65 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,757 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 33,877 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 95,848 | ||
Total | 129,725 | ||
Accumulated Depreciation | $ (13,114) | ||
Hospitality Properties: | Select Service Hotels | Worcester, MA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 25,100 | ||
Initial Cost, Land and Land Improvements | 2,384 | ||
Initial Cost, Building and Building Improvements | 34,811 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 44 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,705 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,428 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 39,517 | ||
Total | 41,945 | ||
Accumulated Depreciation | $ (9,785) | ||
Hospitality Properties: | Select Service Hotels | Hilo, HI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 50,467 | ||
Initial Cost, Land and Land Improvements | 4,715 | ||
Initial Cost, Building and Building Improvements | 94,476 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 513 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9,275 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,228 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 103,751 | ||
Total | 108,979 | ||
Accumulated Depreciation | $ (25,076) | ||
Hospitality Properties: | Select Service Hotels | Key West, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 67,428 | ||
Initial Cost, Building and Building Improvements | 199,025 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 31 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,015 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 67,459 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 202,039 | ||
Total | 269,498 | ||
Accumulated Depreciation | $ (8,062) | ||
Self Storage properties | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 208 | ||
Encumbrances | $ 1,442,270 | ||
Initial Cost, Land and Land Improvements | 379,607 | ||
Initial Cost, Building and Building Improvements | 1,885,103 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2,589 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 23,928 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 382,197 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,909,028 | ||
Total | 2,291,225 | ||
Accumulated Depreciation | $ (100,083) | ||
Self Storage properties | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 11,369 | ||
Initial Cost, Land and Land Improvements | 3,761 | ||
Initial Cost, Building and Building Improvements | 15,545 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 120 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 183 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,881 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,729 | ||
Total | 19,610 | ||
Accumulated Depreciation | $ (913) | ||
Self Storage properties | Austin, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 20 | ||
Encumbrances | $ 173,159 | ||
Initial Cost, Land and Land Improvements | 33,475 | ||
Initial Cost, Building and Building Improvements | 211,611 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 264 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,627 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 33,739 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 213,238 | ||
Total | 246,977 | ||
Accumulated Depreciation | $ (7,871) | ||
Self Storage properties | Charleston, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 6,235 | ||
Initial Cost, Land and Land Improvements | 4,160 | ||
Initial Cost, Building and Building Improvements | 3,724 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 78 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,160 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,802 | ||
Total | 7,962 | ||
Accumulated Depreciation | $ (492) | ||
Self Storage properties | Charlotte, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 8,700 | ||
Initial Cost, Land and Land Improvements | 731 | ||
Initial Cost, Building and Building Improvements | 11,398 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 14 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 731 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,413 | ||
Total | 12,144 | ||
Accumulated Depreciation | $ (212) | ||
Self Storage properties | Chicago, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 31,808 | ||
Initial Cost, Land and Land Improvements | 9,640 | ||
Initial Cost, Building and Building Improvements | 45,628 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 137 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,290 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,777 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 48,917 | ||
Total | 58,694 | ||
Accumulated Depreciation | $ (2,659) | ||
Self Storage properties | Columbus, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 44,474 | ||
Initial Cost, Land and Land Improvements | 9,134 | ||
Initial Cost, Building and Building Improvements | 54,504 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 157 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,136 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,292 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 55,641 | ||
Total | 64,933 | ||
Accumulated Depreciation | $ (1,421) | ||
Self Storage properties | Denver, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 12,500 | ||
Initial Cost, Land and Land Improvements | 2,338 | ||
Initial Cost, Building and Building Improvements | 17,349 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,338 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 17,349 | ||
Total | 19,687 | ||
Accumulated Depreciation | $ (423) | ||
Self Storage properties | Houston, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 24 | ||
Encumbrances | $ 186,051 | ||
Initial Cost, Land and Land Improvements | 35,108 | ||
Initial Cost, Building and Building Improvements | 223,969 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 329 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,362 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 35,437 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 226,331 | ||
Total | 261,768 | ||
Accumulated Depreciation | $ (9,002) | ||
Self Storage properties | Lakeland, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 39,803 | ||
Initial Cost, Land and Land Improvements | 9,666 | ||
Initial Cost, Building and Building Improvements | 52,771 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,690 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,666 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 55,461 | ||
Total | 65,127 | ||
Accumulated Depreciation | $ (3,192) | ||
Self Storage properties | Los Angeles, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 71,336 | ||
Initial Cost, Land and Land Improvements | 25,562 | ||
Initial Cost, Building and Building Improvements | 68,618 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 98 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 25,563 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 68,716 | ||
Total | 94,279 | ||
Accumulated Depreciation | $ (2,916) | ||
Self Storage properties | Miami, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 32,643 | ||
Initial Cost, Land and Land Improvements | 7,380 | ||
Initial Cost, Building and Building Improvements | 42,026 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 583 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,380 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 42,609 | ||
Total | 49,989 | ||
Accumulated Depreciation | $ (2,001) | ||
Self Storage properties | Minneapolis, MN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 19,823 | ||
Initial Cost, Land and Land Improvements | 6,529 | ||
Initial Cost, Building and Building Improvements | 20,216 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 39 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 230 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,568 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 20,445 | ||
Total | 27,013 | ||
Accumulated Depreciation | $ (1,237) | ||
Self Storage properties | Naples, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 8,492 | ||
Initial Cost, Land and Land Improvements | 1,368 | ||
Initial Cost, Building and Building Improvements | 10,754 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 51 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,369 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,804 | ||
Total | 12,173 | ||
Accumulated Depreciation | $ (621) | ||
Self Storage properties | Nashville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 27,176 | ||
Initial Cost, Land and Land Improvements | 5,344 | ||
Initial Cost, Building and Building Improvements | 35,465 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 78 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,348 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 35,543 | ||
Total | 40,891 | ||
Accumulated Depreciation | $ (1,498) | ||
Self Storage properties | New York, NY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 9 | ||
Encumbrances | $ 73,679 | ||
Initial Cost, Land and Land Improvements | 22,362 | ||
Initial Cost, Building and Building Improvements | 95,514 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 58 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 531 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 22,420 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 96,045 | ||
Total | 118,465 | ||
Accumulated Depreciation | $ (6,243) | ||
Self Storage properties | North Port, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 20,994 | ||
Initial Cost, Land and Land Improvements | 6,329 | ||
Initial Cost, Building and Building Improvements | 37,459 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 26 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 959 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,355 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 38,418 | ||
Total | 44,773 | ||
Accumulated Depreciation | $ (2,265) | ||
Self Storage properties | Orlando, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 7 | ||
Encumbrances | $ 51,110 | ||
Initial Cost, Land and Land Improvements | 12,879 | ||
Initial Cost, Building and Building Improvements | 76,292 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 75 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 215 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,954 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 76,507 | ||
Total | 89,461 | ||
Accumulated Depreciation | $ (4,282) | ||
Self Storage properties | Palm Bay, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 38,758 | ||
Initial Cost, Land and Land Improvements | 10,217 | ||
Initial Cost, Building and Building Improvements | 59,073 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 184 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 438 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,401 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 59,511 | ||
Total | 69,912 | ||
Accumulated Depreciation | $ (3,452) | ||
Self Storage properties | Phoenix, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 8,797 | ||
Initial Cost, Land and Land Improvements | 2,600 | ||
Initial Cost, Building and Building Improvements | 10,084 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 50 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,600 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,134 | ||
Total | 12,734 | ||
Accumulated Depreciation | $ (1,055) | ||
Self Storage properties | Raleigh, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 9,945 | ||
Initial Cost, Land and Land Improvements | 3,172 | ||
Initial Cost, Building and Building Improvements | 9,503 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 138 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,172 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,642 | ||
Total | 12,814 | ||
Accumulated Depreciation | $ (1,230) | ||
Self Storage properties | San Antonio, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,600 | ||
Initial Cost, Land and Land Improvements | 956 | ||
Initial Cost, Building and Building Improvements | 5,609 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 956 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,609 | ||
Total | 6,565 | ||
Accumulated Depreciation | $ (437) | ||
Self Storage properties | San Diego, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,400 | ||
Initial Cost, Land and Land Improvements | 3,503 | ||
Initial Cost, Building and Building Improvements | 5,915 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 82 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,503 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,997 | ||
Total | 9,500 | ||
Accumulated Depreciation | $ (492) | ||
Self Storage properties | Savannah, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,500 | ||
Initial Cost, Land and Land Improvements | 1,190 | ||
Initial Cost, Building and Building Improvements | 9,929 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,190 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,933 | ||
Total | 11,123 | ||
Accumulated Depreciation | $ (252) | ||
Self Storage properties | Seattle, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 49,572 | ||
Initial Cost, Land and Land Improvements | 24,320 | ||
Initial Cost, Building and Building Improvements | 45,633 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 29 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 393 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 24,348 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 46,026 | ||
Total | 70,374 | ||
Accumulated Depreciation | $ (2,332) | ||
Self Storage properties | Stockton, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 24,400 | ||
Initial Cost, Land and Land Improvements | 4,584 | ||
Initial Cost, Building and Building Improvements | 28,905 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 101 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,587 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 29,006 | ||
Total | 33,593 | ||
Accumulated Depreciation | $ (1,231) | ||
Self Storage properties | Tampa, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 48,644 | ||
Initial Cost, Land and Land Improvements | 13,118 | ||
Initial Cost, Building and Building Improvements | 65,018 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 73 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 151 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 13,191 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 65,169 | ||
Total | 78,360 | ||
Accumulated Depreciation | $ (3,165) | ||
Self Storage properties | Cape Coral, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 3,914 | ||
Initial Cost, Land and Land Improvements | 1,456 | ||
Initial Cost, Building and Building Improvements | 4,214 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 12 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 94 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,468 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,307 | ||
Total | 5,775 | ||
Accumulated Depreciation | $ (574) | ||
Self Storage properties | Tucson, AZ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 12,800 | ||
Initial Cost, Land and Land Improvements | 2,041 | ||
Initial Cost, Building and Building Improvements | 15,340 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 119 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,041 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,459 | ||
Total | 17,500 | ||
Accumulated Depreciation | $ (1,278) | ||
Self Storage properties | Akron, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 15,000 | ||
Initial Cost, Land and Land Improvements | 2,929 | ||
Initial Cost, Building and Building Improvements | 19,068 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 84 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,929 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,152 | ||
Total | 22,081 | ||
Accumulated Depreciation | $ (1,175) | ||
Self Storage properties | Ann Arbor, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,307 | ||
Initial Cost, Land and Land Improvements | 3,059 | ||
Initial Cost, Building and Building Improvements | 9,673 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 31 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 50 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,090 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,723 | ||
Total | 12,813 | ||
Accumulated Depreciation | $ (575) | ||
Self Storage properties | Baton Rouge, LA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,732 | ||
Initial Cost, Land and Land Improvements | 1,885 | ||
Initial Cost, Building and Building Improvements | 10,898 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,889 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,918 | ||
Total | 12,807 | ||
Accumulated Depreciation | $ (633) | ||
Self Storage properties | College Station, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 8,140 | ||
Initial Cost, Land and Land Improvements | 2,738 | ||
Initial Cost, Building and Building Improvements | 8,790 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,738 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,790 | ||
Total | 11,528 | ||
Accumulated Depreciation | $ (397) | ||
Self Storage properties | Fresno, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,750 | ||
Initial Cost, Land and Land Improvements | 1,083 | ||
Initial Cost, Building and Building Improvements | 5,270 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 58 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,083 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,328 | ||
Total | 6,411 | ||
Accumulated Depreciation | $ (434) | ||
Self Storage properties | Indianapolis, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,523 | ||
Initial Cost, Land and Land Improvements | 677 | ||
Initial Cost, Building and Building Improvements | 2,203 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 24 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 701 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,212 | ||
Total | 2,913 | ||
Accumulated Depreciation | $ (132) | ||
Self Storage properties | Knoxville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 3,350 | ||
Initial Cost, Land and Land Improvements | 1,750 | ||
Initial Cost, Building and Building Improvements | 3,704 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 11 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 38 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,761 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,742 | ||
Total | 5,503 | ||
Accumulated Depreciation | $ (319) | ||
Self Storage properties | Lafayette, IN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 23,624 | ||
Initial Cost, Land and Land Improvements | 5,836 | ||
Initial Cost, Building and Building Improvements | 30,781 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 163 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 303 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,999 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 31,084 | ||
Total | 37,083 | ||
Accumulated Depreciation | $ (1,781) | ||
Self Storage properties | Oklahoma City, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 11 | ||
Encumbrances | $ 31,833 | ||
Initial Cost, Land and Land Improvements | 11,536 | ||
Initial Cost, Building and Building Improvements | 49,101 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 138 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 470 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,673 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 49,572 | ||
Total | 61,245 | ||
Accumulated Depreciation | $ (2,942) | ||
Self Storage properties | Tallahassee, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 9,657 | ||
Initial Cost, Land and Land Improvements | 3,797 | ||
Initial Cost, Building and Building Improvements | 10,909 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 144 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,797 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,053 | ||
Total | 14,850 | ||
Accumulated Depreciation | $ (1,496) | ||
Self Storage properties | Trenton, NJ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,994 | ||
Initial Cost, Land and Land Improvements | 1,853 | ||
Initial Cost, Building and Building Improvements | 12,736 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 6 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 55 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,860 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,791 | ||
Total | 14,651 | ||
Accumulated Depreciation | $ (738) | ||
Self Storage properties | Augusta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,147 | ||
Initial Cost, Land and Land Improvements | 771 | ||
Initial Cost, Building and Building Improvements | 5,144 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 19 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 790 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,144 | ||
Total | 5,934 | ||
Accumulated Depreciation | $ (297) | ||
Self Storage properties | Baltimore, MD | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,001 | ||
Initial Cost, Land and Land Improvements | 791 | ||
Initial Cost, Building and Building Improvements | 6,503 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 38 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 791 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,541 | ||
Total | 7,332 | ||
Accumulated Depreciation | $ (782) | ||
Self Storage properties | Colorado Springs, CO | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,500 | ||
Initial Cost, Land and Land Improvements | 1,675 | ||
Initial Cost, Building and Building Improvements | 10,451 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 23 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,675 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,474 | ||
Total | 12,149 | ||
Accumulated Depreciation | $ (261) | ||
Self Storage properties | Deltona, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 6,142 | ||
Initial Cost, Land and Land Improvements | 2,605 | ||
Initial Cost, Building and Building Improvements | 11,617 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 21 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 38 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,626 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,655 | ||
Total | 14,281 | ||
Accumulated Depreciation | $ (679) | ||
Self Storage properties | Gainesville, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 6,590 | ||
Initial Cost, Land and Land Improvements | 1,027 | ||
Initial Cost, Building and Building Improvements | 8,304 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 12 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 19 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,039 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,322 | ||
Total | 9,361 | ||
Accumulated Depreciation | $ (478) | ||
Self Storage properties | Port St. Lucie, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,903 | ||
Initial Cost, Land and Land Improvements | 1,619 | ||
Initial Cost, Building and Building Improvements | 7,108 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 402 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,619 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,510 | ||
Total | 9,129 | ||
Accumulated Depreciation | $ (935) | ||
Self Storage properties | Cleveland, OH | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 16,100 | ||
Initial Cost, Land and Land Improvements | 4,209 | ||
Initial Cost, Building and Building Improvements | 23,492 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 480 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,209 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 23,972 | ||
Total | 28,181 | ||
Accumulated Depreciation | $ (1,734) | ||
Self Storage properties | Detroit, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 6 | ||
Encumbrances | $ 33,777 | ||
Initial Cost, Land and Land Improvements | 8,571 | ||
Initial Cost, Building and Building Improvements | 47,185 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 34 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 323 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,605 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 47,508 | ||
Total | 56,113 | ||
Accumulated Depreciation | $ (2,809) | ||
Self Storage properties | Grand Rapids, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 11,478 | ||
Initial Cost, Land and Land Improvements | 2,803 | ||
Initial Cost, Building and Building Improvements | 17,409 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 86 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,808 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 17,494 | ||
Total | 20,302 | ||
Accumulated Depreciation | $ (1,009) | ||
Self Storage properties | Memphis, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 11 | ||
Encumbrances | $ 44,822 | ||
Initial Cost, Land and Land Improvements | 17,170 | ||
Initial Cost, Building and Building Improvements | 84,134 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 409 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 497 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 17,578 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 84,632 | ||
Total | 102,210 | ||
Accumulated Depreciation | $ (4,786) | ||
Self Storage properties | Pensacola, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 8 | ||
Encumbrances | $ 46,411 | ||
Initial Cost, Land and Land Improvements | 11,860 | ||
Initial Cost, Building and Building Improvements | 75,417 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 22 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 746 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,881 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 76,163 | ||
Total | 88,044 | ||
Accumulated Depreciation | $ (4,126) | ||
Self Storage properties | Roanoke, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 9,291 | ||
Initial Cost, Land and Land Improvements | 2,541 | ||
Initial Cost, Building and Building Improvements | 11,463 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 44 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,541 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,507 | ||
Total | 14,048 | ||
Accumulated Depreciation | $ (845) | ||
Self Storage properties | Allentown, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,516 | ||
Initial Cost, Land and Land Improvements | 2,781 | ||
Initial Cost, Building and Building Improvements | 12,114 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 72 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 91 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,854 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,205 | ||
Total | 15,059 | ||
Accumulated Depreciation | $ (715) | ||
Self Storage properties | Chattanooga, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,225 | ||
Initial Cost, Land and Land Improvements | 1,377 | ||
Initial Cost, Building and Building Improvements | 6,244 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 268 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,377 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,512 | ||
Total | 7,889 | ||
Accumulated Depreciation | $ (831) | ||
Self Storage properties | Corpus Christi, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 14,070 | ||
Initial Cost, Land and Land Improvements | 4,044 | ||
Initial Cost, Building and Building Improvements | 16,128 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 8 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,044 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,135 | ||
Total | 20,179 | ||
Accumulated Depreciation | $ (1,127) | ||
Self Storage properties | Fayetteville, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 25,476 | ||
Initial Cost, Land and Land Improvements | 5,891 | ||
Initial Cost, Building and Building Improvements | 35,439 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 15 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,891 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 35,454 | ||
Total | 41,345 | ||
Accumulated Depreciation | $ (2,653) | ||
Self Storage properties | Flint, MI | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 8,930 | ||
Initial Cost, Land and Land Improvements | 2,706 | ||
Initial Cost, Building and Building Improvements | 14,669 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 100 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 100 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,806 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,769 | ||
Total | 17,575 | ||
Accumulated Depreciation | $ (933) | ||
Self Storage properties | Gulfport, MS | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 17,500 | ||
Initial Cost, Land and Land Improvements | 3,097 | ||
Initial Cost, Building and Building Improvements | 23,810 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,097 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 23,810 | ||
Total | 26,907 | ||
Accumulated Depreciation | $ (607) | ||
Self Storage properties | Kingsville, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,000 | ||
Initial Cost, Land and Land Improvements | 1,010 | ||
Initial Cost, Building and Building Improvements | 8,479 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,010 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,479 | ||
Total | 9,489 | ||
Accumulated Depreciation | $ (228) | ||
Self Storage properties | Ocean City, NJ | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,276 | ||
Initial Cost, Land and Land Improvements | 2,381 | ||
Initial Cost, Building and Building Improvements | 11,891 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,629 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,381 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,520 | ||
Total | 17,901 | ||
Accumulated Depreciation | $ (702) | ||
Self Storage properties | Stillwater, OK | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 1,523 | ||
Initial Cost, Land and Land Improvements | 612 | ||
Initial Cost, Building and Building Improvements | 2,903 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 8 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 194 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 620 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,096 | ||
Total | 3,716 | ||
Accumulated Depreciation | $ (178) | ||
Retail Properties: | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 77 | ||
Encumbrances | $ 1,482,451 | ||
Initial Cost, Land and Land Improvements | 943,944 | ||
Initial Cost, Building and Building Improvements | 1,496,475 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 9,452 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21,584 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 953,396 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,518,063 | ||
Total | 2,471,459 | ||
Accumulated Depreciation | $ (120,838) | ||
Retail Properties: | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 15 | ||
Encumbrances | $ 198,745 | ||
Initial Cost, Land and Land Improvements | 114,455 | ||
Initial Cost, Building and Building Improvements | 256,670 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 23 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,562 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 114,478 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 258,232 | ||
Total | 372,710 | ||
Accumulated Depreciation | $ (18,086) | ||
Retail Properties: | Austin, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 30,311 | ||
Initial Cost, Land and Land Improvements | 22,787 | ||
Initial Cost, Building and Building Improvements | 55,302 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,059 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 355 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 23,846 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 55,657 | ||
Total | 79,503 | ||
Accumulated Depreciation | $ (3,186) | ||
Retail Properties: | Birmingham AL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 6,592 | ||
Initial Cost, Land and Land Improvements | 2,348 | ||
Initial Cost, Building and Building Improvements | 9,485 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 53 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,348 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,538 | ||
Total | 11,886 | ||
Accumulated Depreciation | $ (325) | ||
Retail Properties: | Charlotte, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 46,418 | ||
Initial Cost, Land and Land Improvements | 24,094 | ||
Initial Cost, Building and Building Improvements | 57,785 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 789 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 144 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 24,883 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 57,928 | ||
Total | 82,811 | ||
Accumulated Depreciation | $ (2,794) | ||
Retail Properties: | Chicago, IL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 103,300 | ||
Initial Cost, Land and Land Improvements | 36,648 | ||
Initial Cost, Building and Building Improvements | 101,293 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 36,648 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 101,293 | ||
Total | 137,941 | ||
Accumulated Depreciation | $ (12,117) | ||
Retail Properties: | Greenville, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 17,720 | ||
Initial Cost, Land and Land Improvements | 7,987 | ||
Initial Cost, Building and Building Improvements | 24,509 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 28 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,987 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 24,537 | ||
Total | 32,524 | ||
Accumulated Depreciation | $ (1,073) | ||
Retail Properties: | Houston, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 22,950 | ||
Initial Cost, Land and Land Improvements | 17,587 | ||
Initial Cost, Building and Building Improvements | 45,064 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 327 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,242 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 17,914 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 46,307 | ||
Total | 64,221 | ||
Accumulated Depreciation | $ (2,488) | ||
Retail Properties: | Lakeland, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 11,307 | ||
Initial Cost, Land and Land Improvements | 4,051 | ||
Initial Cost, Building and Building Improvements | 16,397 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 75 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,051 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,472 | ||
Total | 20,523 | ||
Accumulated Depreciation | $ (536) | ||
Retail Properties: | Los Angeles, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 9 | ||
Encumbrances | $ 343,550 | ||
Initial Cost, Land and Land Improvements | 293,936 | ||
Initial Cost, Building and Building Improvements | 222,130 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3,049 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7,579 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 296,984 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 229,709 | ||
Total | 526,693 | ||
Accumulated Depreciation | $ (26,604) | ||
Retail Properties: | Miami, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 4 | ||
Encumbrances | $ 51,523 | ||
Initial Cost, Land and Land Improvements | 47,797 | ||
Initial Cost, Building and Building Improvements | 72,147 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 492 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 245 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 48,289 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 72,392 | ||
Total | 120,681 | ||
Accumulated Depreciation | $ (5,549) | ||
Retail Properties: | Naples, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 16,580 | ||
Initial Cost, Land and Land Improvements | 10,369 | ||
Initial Cost, Building and Building Improvements | 15,610 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,369 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,610 | ||
Total | 25,979 | ||
Accumulated Depreciation | $ (554) | ||
Retail Properties: | Nashville, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 5 | ||
Encumbrances | $ 39,462 | ||
Initial Cost, Land and Land Improvements | 15,591 | ||
Initial Cost, Building and Building Improvements | 46,001 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 46 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 15,591 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 46,047 | ||
Total | 61,638 | ||
Accumulated Depreciation | $ (1,751) | ||
Retail Properties: | New York, NY | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 111,050 | ||
Initial Cost, Land and Land Improvements | 92,478 | ||
Initial Cost, Building and Building Improvements | 67,768 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 638 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 557 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 93,116 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 68,325 | ||
Total | 161,441 | ||
Accumulated Depreciation | $ (11,031) | ||
Retail Properties: | Orlando, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 20,212 | ||
Initial Cost, Land and Land Improvements | 9,104 | ||
Initial Cost, Building and Building Improvements | 37,121 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 180 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,104 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 37,301 | ||
Total | 46,405 | ||
Accumulated Depreciation | $ (1,209) | ||
Retail Properties: | Philadelphia, PA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 83,000 | ||
Initial Cost, Land and Land Improvements | 56,152 | ||
Initial Cost, Building and Building Improvements | 72,331 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,809 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,963 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 57,961 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 76,294 | ||
Total | 134,255 | ||
Accumulated Depreciation | $ (11,967) | ||
Retail Properties: | Raleigh, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 30,966 | ||
Initial Cost, Land and Land Improvements | 12,292 | ||
Initial Cost, Building and Building Improvements | 41,914 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 366 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,292 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 42,281 | ||
Total | 54,573 | ||
Accumulated Depreciation | $ (1,405) | ||
Retail Properties: | Richmond, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 9,986 | ||
Initial Cost, Land and Land Improvements | 5,907 | ||
Initial Cost, Building and Building Improvements | 19,929 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 88 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,907 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 20,017 | ||
Total | 25,924 | ||
Accumulated Depreciation | $ (705) | ||
Retail Properties: | Riverside, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 27,390 | ||
Initial Cost, Land and Land Improvements | 23,540 | ||
Initial Cost, Building and Building Improvements | 17,954 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1,082 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,053 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 24,622 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,007 | ||
Total | 43,629 | ||
Accumulated Depreciation | $ (4,740) | ||
Retail Properties: | San Antonio, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 7,994 | ||
Initial Cost, Land and Land Improvements | 3,138 | ||
Initial Cost, Building and Building Improvements | 14,496 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,138 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,496 | ||
Total | 17,634 | ||
Accumulated Depreciation | $ (466) | ||
Retail Properties: | Seattle, WA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 67,900 | ||
Initial Cost, Land and Land Improvements | 37,563 | ||
Initial Cost, Building and Building Improvements | 49,349 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 6 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,424 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 37,569 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 50,773 | ||
Total | 88,342 | ||
Accumulated Depreciation | $ (3,320) | ||
Retail Properties: | Tampa, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 22,658 | ||
Initial Cost, Land and Land Improvements | 9,682 | ||
Initial Cost, Building and Building Improvements | 29,555 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 59 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,682 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 29,614 | ||
Total | 39,296 | ||
Accumulated Depreciation | $ (902) | ||
Retail Properties: | Virginia Beach, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 20,396 | ||
Initial Cost, Land and Land Improvements | 6,592 | ||
Initial Cost, Building and Building Improvements | 21,168 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 477 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,592 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,645 | ||
Total | 28,237 | ||
Accumulated Depreciation | $ (927) | ||
Retail Properties: | Washington DC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 43,761 | ||
Initial Cost, Land and Land Improvements | 17,960 | ||
Initial Cost, Building and Building Improvements | 33,664 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 112 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 17,960 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 33,777 | ||
Total | 51,737 | ||
Accumulated Depreciation | $ (1,076) | ||
Retail Properties: | Wilmington, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 29,557 | ||
Initial Cost, Land and Land Improvements | 14,686 | ||
Initial Cost, Building and Building Improvements | 25,813 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 993 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,686 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 26,807 | ||
Total | 41,493 | ||
Accumulated Depreciation | $ (1,134) | ||
Retail Properties: | Charlottesville, VA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 24,813 | ||
Initial Cost, Land and Land Improvements | 7,898 | ||
Initial Cost, Building and Building Improvements | 29,965 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 366 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,898 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,332 | ||
Total | 38,230 | ||
Accumulated Depreciation | $ (883) | ||
Retail Properties: | Columbia, SC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 12,872 | ||
Initial Cost, Land and Land Improvements | 5,957 | ||
Initial Cost, Building and Building Improvements | 18,902 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 11 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,957 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,913 | ||
Total | 24,870 | ||
Accumulated Depreciation | $ (631) | ||
Retail Properties: | Augusta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 10,300 | ||
Initial Cost, Land and Land Improvements | 4,601 | ||
Initial Cost, Building and Building Improvements | 19,432 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 28 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,601 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,460 | ||
Total | 24,061 | ||
Accumulated Depreciation | $ (670) | ||
Retail Properties: | Deltona, FL | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 5,825 | ||
Initial Cost, Land and Land Improvements | 2,208 | ||
Initial Cost, Building and Building Improvements | 8,207 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,208 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,207 | ||
Total | 10,415 | ||
Accumulated Depreciation | $ (286) | ||
Retail Properties: | Gainesville, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 2 | ||
Encumbrances | $ 19,327 | ||
Initial Cost, Land and Land Improvements | 7,666 | ||
Initial Cost, Building and Building Improvements | 29,650 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 518 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,666 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,168 | ||
Total | 37,834 | ||
Accumulated Depreciation | $ (1,012) | ||
Retail Properties: | Oxnard, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 23,600 | ||
Initial Cost, Land and Land Improvements | 22,282 | ||
Initial Cost, Building and Building Improvements | 13,246 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 178 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 60 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 22,461 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,306 | ||
Total | 35,767 | ||
Accumulated Depreciation | $ (2,377) | ||
Retail Properties: | Chattanooga, TN | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 18,190 | ||
Initial Cost, Land and Land Improvements | 4,757 | ||
Initial Cost, Building and Building Improvements | 15,473 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,757 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,473 | ||
Total | 20,230 | ||
Accumulated Depreciation | $ (756) | ||
Retail Properties: | Columbus, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 4,196 | ||
Initial Cost, Land and Land Improvements | 1,831 | ||
Initial Cost, Building and Building Improvements | 8,145 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,831 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,145 | ||
Total | 9,976 | ||
Accumulated Depreciation | $ (278) | ||
Office Properties: | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 14 | ||
Encumbrances | $ 1,259,865 | ||
Initial Cost, Land and Land Improvements | 346,320 | ||
Initial Cost, Building and Building Improvements | 2,073,140 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 50,054 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 346,320 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,123,195 | ||
Total | 2,469,515 | ||
Accumulated Depreciation | $ (66,858) | ||
Office Properties: | Atlanta, GA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 113,783 | ||
Initial Cost, Land and Land Improvements | 36,864 | ||
Initial Cost, Building and Building Improvements | 628,007 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 23,240 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 36,864 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 651,247 | ||
Total | 688,111 | ||
Accumulated Depreciation | $ (18,967) | ||
Office Properties: | Charlotte, NC | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 0 | ||
Initial Cost, Land and Land Improvements | 16,347 | ||
Initial Cost, Building and Building Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,347 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 0 | ||
Total | 16,347 | ||
Accumulated Depreciation | $ 0 | ||
Office Properties: | Los Angeles, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 310,000 | ||
Initial Cost, Land and Land Improvements | 123,253 | ||
Initial Cost, Building and Building Improvements | 351,121 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7,871 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 123,253 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 358,992 | ||
Total | 482,245 | ||
Accumulated Depreciation | $ (8,290) | ||
Office Properties: | San Antonio, TX | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 42,119 | ||
Initial Cost, Land and Land Improvements | 15,120 | ||
Initial Cost, Building and Building Improvements | 46,901 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 15,120 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 46,901 | ||
Total | 62,021 | ||
Accumulated Depreciation | $ (1,291) | ||
Office Properties: | San Francisco, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 75,900 | ||
Initial Cost, Land and Land Improvements | 29,719 | ||
Initial Cost, Building and Building Improvements | 86,396 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,369 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 29,719 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 89,765 | ||
Total | 119,484 | ||
Accumulated Depreciation | $ (10,104) | ||
Office Properties: | Quebec, Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 65,774 | ||
Initial Cost, Land and Land Improvements | 18,104 | ||
Initial Cost, Building and Building Improvements | 83,438 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 13 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 18,104 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 83,451 | ||
Total | 101,555 | ||
Accumulated Depreciation | $ (2,038) | ||
Office Properties: | San Jose, CA | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 167,700 | ||
Initial Cost, Land and Land Improvements | 50,457 | ||
Initial Cost, Building and Building Improvements | 184,849 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 15,407 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 50,457 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 200,257 | ||
Total | 250,714 | ||
Accumulated Depreciation | $ (15,133) | ||
Office Properties: | Ontario, Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 3 | ||
Encumbrances | $ 103,291 | ||
Initial Cost, Land and Land Improvements | 42,992 | ||
Initial Cost, Building and Building Improvements | 135,474 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 154 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 42,992 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 135,628 | ||
Total | 178,620 | ||
Accumulated Depreciation | $ (4,366) | ||
Office Properties: | Westmont, Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 29,489 | ||
Initial Cost, Land and Land Improvements | 13,305 | ||
Initial Cost, Building and Building Improvements | 46,614 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 13,305 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 46,614 | ||
Total | 59,919 | ||
Accumulated Depreciation | $ (1,138) | ||
Office Properties: | Dublin, Ireland | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Properties | segment | 1 | ||
Encumbrances | $ 351,809 | ||
Initial Cost, Land and Land Improvements | 159 | ||
Initial Cost, Building and Building Improvements | 510,340 | ||
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 0 | ||
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 0 | ||
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 159 | ||
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 510,340 | ||
Total | 510,499 | ||
Accumulated Depreciation | $ (5,531) |
Real Estate and Accumulated D_3
Real Estate and Accumulated Depreciation Schedule III - Additional Information (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |
Aggregate cost basis for tax purposes | $ 99,000,000 |
Encumbrances | 61,665,422 |
Amount of property excluded from real estate investments | 2,300,000 |
Amount of accumulated deprecation excluded from real estate accumulated depreciation | 494,800 |
Total variable rate loans | Warehouse facilities | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |
Encumbrances | 3,700,000 |
Residential Properties | Term Loan And Secured Note | Affordable Housing | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |
Outstanding balance | 1,500,000 |
Collateral amount | $ 1,500,000 |
Real Estate and Accumulated D_4
Real Estate and Accumulated Depreciation Schedule III - Summary of Activity for Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward] | ||
Real estate beginning balance | $ 68,607,833 | $ 33,617,991 |
Additions during the year: | ||
Land and land improvements | 4,472,952 | 7,203,559 |
Building and building improvements | 30,086,281 | 28,258,673 |
Dispositions during the year: | ||
Land and land improvements | (411,404) | (146,603) |
Building and building improvements | (1,814,819) | (101,697) |
Impairment of investments in real estate | 33,554 | 0 |
Assets held-for-sale | (423,936) | (224,090) |
Real estate ending balance | 100,550,461 | 68,607,833 |
Accumulated Depreciation: | ||
Balance at the beginning of year | (2,916,615) | (1,693,196) |
Accumulated depreciation | (2,733,499) | (1,261,608) |
Dispositions | 254,703 | 8,411 |
Assets held-for-sale | 30,126 | 29,778 |
Balance at the end of the year | $ (5,365,285) | $ (2,916,615) |