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Revenues (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table presents the Company’s revenues disaggregated by revenue source for the periods presented ($ in thousands):
Year Ended December 31,
202520242023
Rental income$1,850,551 $1,735,411 $1,636,070 
Other property27,413 28,774 22,194 
Management and other fees from affiliates9,381 10,265 11,131 
Total revenues$1,887,345 $1,774,450 $1,669,395 

The following table presents the Company’s rental and other property revenues disaggregated by geographic operating segment for the periods presented ($ in thousands):
Year Ended December 31,
202520242023
Southern California$763,124 $714,975 $654,422 
Northern California760,821 663,825 628,880 
Seattle Metro313,410 295,002 282,092 
Other real estate assets (1)
40,609 90,383 92,870 
Total rental and other property revenues$1,877,964 $1,764,185 $1,658,264 

(1)Other real estate assets consist of revenues generated from retail space, commercial properties, held for sale properties, disposition properties and straight-line rent adjustments for concessions. Executive management does not evaluate such operating performance geographically.

The following table presents the Company’s rental and other property revenues disaggregated by current property category status for the periods presented ($ in thousands):
Year Ended December 31,
202520242023
Same-property (1)
$1,642,989 $1,590,404 $1,540,045 
Acquisitions (2)
169,002 58,158 1,037 
Non-residential/other, net (3)
64,952 115,644 119,725 
Straight line rent concessions (4)
1,021 (21)(2,543)
Total rental and other property revenues$1,877,964 $1,764,185 $1,658,264 

(1)Same-property includes properties that have comparable stabilized results as of January 1, 2024 and are consolidated by the Company for the years ended December 31, 2025, 2024 and 2023. A community is considered to have reached stabilized operations once it achieves an initial occupancy of 90%.
(2)Acquisitions include properties acquired which did not have comparable stabilized results as of January 1, 2024.
(3)Non-residential/other, net consists of revenues generated from retail space, commercial properties, held for sale properties, disposition properties, student housing, properties undergoing significant construction activities that do not meet our redevelopment criteria, and two communities located in the California counties of Santa Barbara and Santa Cruz, which the Company does not consider its core markets.
(4)Represents straight-line concessions for residential operating communities. Same-property revenues reflect concessions on a cash basis. Total rental and other property revenues reflect concessions on a straight-line basis in accordance with U.S. GAAP.