NONCONTROLLING INTERESTS (Tables)

12 Months Ended

Dec. 31, 2025

NONCONTROLLING INTERESTS

Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership

The following table sets forth redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership for the years ended December 31, 2025 and 2024 (dollars in thousands):

	Year Ended December 31,
	2025		2024
Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership at beginning of year	$	1,017,355	$	961,087
Mark-to-market adjustment to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership		(134,688)		148,362
Conversion of OP Units/DownREIT Units to Common Stock or Cash		(25,257)		(73,196)
Net income/(loss) attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership		25,965		6,246
Distributions to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership		(41,161)		(52,250)
Redeemable Long-Term and Short-Term Incentive Plan Units		17,905		27,175
Allocation of other comprehensive income/(loss)		(153)		(69)
Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership at end of year	$	859,966	$	1,017,355