Segment Information - Schedule of Total Assets from Reportable Operating Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Net reportable operating segments - real estate assets	$ 11,904,582	$ 11,438,900
Real estate under development	157,122	52,682
Co-investments	630,550	935,014
Cash and cash equivalents, including restricted cash	85,586	75,846	$ 400,334	$ 42,681
Marketable securities	98,070	69,794
Notes and other receivables	141,591	206,706
Operating lease right-of-use assets	50,833	51,556
Prepaid expenses and other assets	90,675	96,861
Total assets	13,159,009	12,927,359
Operating segments | Southern California
Revenues from External Customers and Long-Lived Assets [Line Items]
Net reportable operating segments - real estate assets	4,194,554	4,162,462
Operating segments | Northern California
Revenues from External Customers and Long-Lived Assets [Line Items]
Net reportable operating segments - real estate assets	6,136,977	5,414,689
Operating segments | Seattle Metro
Revenues from External Customers and Long-Lived Assets [Line Items]
Net reportable operating segments - real estate assets	1,412,405	1,460,865
Other real estate assets
Revenues from External Customers and Long-Lived Assets [Line Items]
Net reportable operating segments - real estate assets	$ 160,646	$ 400,884