XML 56 R41.htm IDEA: XBRL DOCUMENT v3.24.2
Significant Transactions During the Six Months Ended June 30, 2024 and Subsequent Events (Details)
1 Months Ended 3 Months Ended 6 Months Ended
Jul. 31, 2024
USD ($)
apartment
May 31, 2024
USD ($)
apartment
Apr. 30, 2024
USD ($)
apartment
Mar. 31, 2024
USD ($)
apartment
community
Aug. 31, 2022
USD ($)
community
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Other Commitments [Line Items]                  
Gain on remeasurement of co-investment           $ 0 $ 0 $ 138,326,000 $ 0
Income (Loss) from Equity Method Investments           9,652,000 12,237,000 22,018,000 23,108,000
Proceeds from dispositions of co-investments   $ 10,300,000              
Preferred return rate   12.00%              
Subsequent Event                  
Other Commitments [Line Items]                  
Proceeds from debt repayment $ 40,100,000                
Essex Portfolio, L.P.                  
Other Commitments [Line Items]                  
Gain on remeasurement of co-investment           0 0 138,326,000 0
Income (Loss) from Equity Method Investments           $ 9,652,000 $ 12,237,000 $ 22,018,000 $ 23,108,000
Senior Notes                  
Other Commitments [Line Items]                  
Debt instrument, repaid, principal   $ 400,000,000              
Unsecured Bonds 5.500%, Due April 2034 | Bonds public offering - fixed rate, net | Essex Portfolio, L.P.                  
Other Commitments [Line Items]                  
Debt instrument face amount       $ 350,000,000          
Interest rate       5.50%          
Debt instrument, debt offering price, percentage of principal       99.752%          
Related Party                  
Other Commitments [Line Items]                  
Number of communities owned | community         3        
Notes receivable         $ 11,200,000        
Notes receivable, interest rate         9.50%        
Related Party Bridge Loan On Property Acquired By BEX II | Related Party                  
Other Commitments [Line Items]                  
Notes receivable     $ 53,600,000 $ 53,600,000          
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]     Secured Overnight Financing Rate (SOFR) [Member]            
Notes receivable, interest rate     1.50%            
Apartment Building | Regency Palm Court and Windsor Court                  
Other Commitments [Line Items]                  
Gain on remeasurement of co-investment       $ 138,300,000          
BEXAEW LLC                  
Other Commitments [Line Items]                  
Number of units acquired | apartment       1,480          
Payments to acquire real estate       $ 505,000,000          
Debt instrument, repaid, principal       $ 219,900,000          
Number of communities owned | community       4          
Income (Loss) from Equity Method Investments       $ 1,500,000          
BEXAEW LLC | Related Party Bridge Loan On Property Acquired By BEX II | Related Party                  
Other Commitments [Line Items]                  
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]       Secured Overnight Financing Rate (SOFR) [Member]          
Notes receivable, interest rate       1.50%          
Patina at Midtown | Subsequent Event                  
Other Commitments [Line Items]                  
Debt instrument, repaid, principal $ 95,000,000                
Joint venture ownership percent 49.90%                
Number of units | apartment 269                
Total purchase price $ 117,000,000                
ARLO Apartments Located in Mountain View                  
Other Commitments [Line Items]                  
Number of units acquired | apartment   164              
Payments to acquire real estate   $ 101,100,000              
Apartment Homes Located in Sunnyvale, CA                  
Other Commitments [Line Items]                  
Number of units acquired | apartment     75            
Commitment to fund preferred equity investment     $ 14,700,000            
Debt instrument, repaid, principal     32,100,000            
Repayments of secured debt     $ 46,600,000            
Membership Interest in BEXAEW                  
Other Commitments [Line Items]                  
Number of units acquired | apartment       1,480          
Membership Interest in BEXAEW | BEXAEW LLC                  
Other Commitments [Line Items]                  
Joint venture ownership percent       49.90%