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Revenues (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Summary 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,
202420232022
Rental income$1,735,411 $1,636,070 $1,573,368 
Other property28,774 22,194 22,307 
Management and other fees from affiliates10,265 11,131 11,139 
Total revenues$1,774,450 $1,669,395 $1,606,814 
The following table presents the Company’s rental and other property revenues disaggregated by geographic operating segment for the periods presented ($ in thousands):
Year Ended December 31,
202420232022
Southern California$744,004 $682,116 $646,252 
Northern California677,393 642,658 615,677 
Seattle Metro295,002 282,092 271,248 
Other real estate assets (1)
47,786 51,398 62,498 
Total rental and other property revenues$1,764,185 $1,658,264 $1,595,675 

(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,
202420232022
Same-property (1)
$1,636,531 $1,585,007 $1,513,864 
Acquisitions (2)
58,158 1,037 — 
Redevelopment6,519 6,232 5,765 
Non-residential/other, net (3)
62,998 68,531 81,604 
Straight line rent concession (4)
(21)(2,543)(5,558)
Total rental and other property revenues$1,764,185 $1,658,264 $1,595,675 

(1)Properties that have comparable stabilized results as of January 1, 2023 and are consolidated by the Company for the years ended December 31, 2024, 2023 and 2022. 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, 2023.
(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.