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EPLP -Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Rental properties:    
Land and land improvements $ 3,271,624 $ 3,246,789
Buildings and improvements 14,505,983 14,342,729
Total rental properties 17,777,607 17,589,518
Less: accumulated depreciation (6,171,689) (6,150,618)
Net real estate 11,605,918 11,438,900
Real estate under development 96,268 52,682
Co-investments 906,686 935,014
Real estate held for sale 112,173 0
Total real estate 12,721,045 12,426,596
Cash and cash equivalents-unrestricted 98,735 66,795
Cash and cash equivalents-restricted 9,127 9,051
Marketable securities 76,013 69,794
Notes and other receivables, net of allowance for credit losses of $0.5 million as of both March 31, 2025 and December 31, 2024 133,724 206,706
Operating lease right-of-use assets 53,351 51,556
Prepaid expenses and other assets 94,263 96,861
Total assets 13,186,258 12,927,359
LIABILITIES AND CAPITAL    
Unsecured debt, net 5,870,662 5,473,788
Mortgage notes payable, net 919,590 989,884
Lines of credit 0 137,945
Accounts payable and accrued liabilities 232,594 212,747
Construction payable 20,679 14,347
Distributions payable 173,678 165,443
Distributions in excess of investments in co-investments 84,295 79,273
Liabilities associated with real estate held for sale 641 0
Operating lease liabilities 54,149 52,473
Other liabilities 50,019 50,220
Total liabilities 7,406,307 7,176,120
Commitments and contingencies (Note 11)
Redeemable noncontrolling interest 34,376 30,849
Limited Partners:    
Accumulated other comprehensive income, net 15,620 24,655
Noncontrolling interest 175,574 183,344
Total liabilities and equity 13,186,258 12,927,359
Essex Portfolio, L.P.    
Rental properties:    
Land and land improvements 3,271,624 3,246,789
Buildings and improvements 14,505,983 14,342,729
Total rental properties 17,777,607 17,589,518
Less: accumulated depreciation (6,171,689) (6,150,618)
Net real estate 11,605,918 11,438,900
Real estate under development 96,268 52,682
Co-investments 906,686 935,014
Real estate held for sale 112,173 0
Total real estate 12,721,045 12,426,596
Cash and cash equivalents-unrestricted 98,735 66,795
Cash and cash equivalents-restricted 9,127 9,051
Marketable securities 76,013 69,794
Notes and other receivables, net of allowance for credit losses of $0.5 million as of both March 31, 2025 and December 31, 2024 133,724 206,706
Operating lease right-of-use assets 53,351 51,556
Prepaid expenses and other assets 94,263 96,861
Total assets 13,186,258 12,927,359
LIABILITIES AND CAPITAL    
Unsecured debt, net 5,870,662 5,473,788
Mortgage notes payable, net 919,590 989,884
Lines of credit 0 137,945
Accounts payable and accrued liabilities 232,594 212,747
Construction payable 20,679 14,347
Distributions payable 173,678 165,443
Distributions in excess of investments in co-investments 84,295 79,273
Liabilities associated with real estate held for sale 641 0
Operating lease liabilities 54,149 52,473
Other liabilities 50,019 50,220
Total liabilities 7,406,307 7,176,120
Commitments and contingencies (Note 11)
Redeemable noncontrolling interest 34,376 30,849
Limited Partners:    
Accumulated other comprehensive income, net 20,074 29,429
Total partners’ capital 5,644,108 5,615,238
Noncontrolling interest 101,467 105,152
Total capital 5,745,575 5,720,390
Total liabilities and equity 13,186,258 12,927,359
Essex Portfolio, L.P. | General Partner    
General Partner:    
Common equity (64,358,097 and 64,280,466 units issued and outstanding, respectively) 5,554,381 5,512,391
Essex Portfolio, L.P. | Limited Partners    
Limited Partners:    
Common equity (2,283,494 and 2,331,251 units issued and outstanding, respectively) 69,653 73,418
Essex Portfolio, L.P. | Common Equity | General Partner    
General Partner:    
Common equity (64,358,097 and 64,280,466 units issued and outstanding, respectively) 5,554,381 5,512,391
Limited Partners:    
Total capital 5,554,381 5,512,391
Essex Portfolio, L.P. | Common Equity | Limited Partners    
Limited Partners:    
Total capital $ 69,653 $ 73,418