Essex Property Trust (ESS) 10-K19 Feb 212020 FY Annual reportFinancial data

Company Profile

Cover Page

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2020	Feb. 17, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-13106
Entity Registrant Name	ESSEX PROPERTY TRUST, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	77-0369576
Entity Address, Address Line One	1100 Park Place, Suite 200
Entity Address, City or Town	San Mateo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94403
City Area Code	650
Local Phone Number	655-7800
Title of 12(b) Security	Common Stock, $.0001 par value (Essex Property Trust, Inc.)
Trading Symbol	ESS
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 14,874,979,309
Entity Common Stock, Shares Outstanding		64,994,503
Documents Incorporated by Reference	Portions of the definitive Proxy Statement to be filed with the Securities and Exchange Commission (the "SEC") pursuant to Regulation 14A in connection with the 2021 annual meeting of stockholders of Essex Property Trust, Inc. are incorporated by reference in Part III of this Annual Report on Form 10-K. Such Proxy Statement will be filed with the SEC within 120 days of December 31, 2020.
Entity Central Index Key	0000920522
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Essex Portfolio, L.P.
Entity Information [Line Items]
Current Fiscal Year End Date	--12-31
Entity File Number	333-44467-01
Entity Registrant Name	ESSEX PORTFOLIO, L.P.
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	77-0369575
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Rental properties:
Land and land improvements	$ 2,929,009	$ 2,773,805
Buildings and improvements	12,132,736	11,264,337
Total rental properties	15,061,745	14,038,142
Less: accumulated depreciation	(4,133,959)	(3,689,482)
Net real estate	10,927,786	10,348,660
Real estate under development	386,047	546,075
Co-investments	1,018,010	1,335,339
Real estate held for sale	57,938	0
Total real estate	12,389,781	12,230,074
Cash and cash equivalents-unrestricted	73,629	70,087
Cash and cash equivalents-restricted	10,412	11,007
Marketable securities, net of allowance for credit losses of zero as of both December 31, 2020 and December 31, 2019	147,768	144,193
Notes and other receivables, net of allowance for credit losses of $0.8 million and zero as of December 31, 2020 and December 31, 2019, respectively (includes related party receivables of $4.7 million and $90.2 million as of December 31, 2020 and December 31, 2019, respectively)	195,104	134,365
Operating lease right-of-use assets	72,143	74,744
Prepaid expenses and other assets	47,340	40,935
Total assets	12,936,177	12,705,405
LIABILITIES AND EQUITY
Unsecured debt, net	5,607,985	4,763,206
Mortgage notes payable, net	643,550	990,667
Lines of credit	0	55,000
Accounts payable and accrued liabilities	152,855	158,017
Construction payable	31,417	48,912
Dividends payable	141,917	135,384
Operating lease liabilities	74,037	76,740
Liabilities associated with real estate held for sale	29,845	0
Other liabilities	39,140	36,565
Total liabilities	6,720,746	6,264,491
Commitments and contingencies
Redeemable noncontrolling interest	32,239	37,410
Equity/ Capital:
Common stock; $0.0001 par value, 670,000,000 shares authorized; 64,999,015 and 66,091,954 shares issued and outstanding, respectively	6	7
Additional paid-in capital	6,876,326	7,121,927
Distributions in excess of accumulated earnings	(861,193)	(887,619)
Limited Partners:
Accumulated other comprehensive loss, net	(14,729)	(13,888)
Total stockholders' equity	6,000,410	6,220,427
Noncontrolling interest	182,782	183,077
Total equity	6,183,192	6,403,504
Total liabilities and equity/capital	12,936,177	12,705,405
Essex Portfolio, L.P.
Rental properties:
Land and land improvements	2,929,009	2,773,805
Buildings and improvements	12,132,736	11,264,337
Total rental properties	15,061,745	14,038,142
Less: accumulated depreciation	(4,133,959)	(3,689,482)
Net real estate	10,927,786	10,348,660
Real estate under development	386,047	546,075
Co-investments	1,018,010	1,335,339
Real estate held for sale	57,938	0
Total real estate	12,389,781	12,230,074
Cash and cash equivalents-unrestricted	73,629	70,087
Cash and cash equivalents-restricted	10,412	11,007
Marketable securities, net of allowance for credit losses of zero as of both December 31, 2020 and December 31, 2019	147,768	144,193
Notes and other receivables, net of allowance for credit losses of $0.8 million and zero as of December 31, 2020 and December 31, 2019, respectively (includes related party receivables of $4.7 million and $90.2 million as of December 31, 2020 and December 31, 2019, respectively)	195,104	134,365
Operating lease right-of-use assets	72,143	74,744
Prepaid expenses and other assets	47,340	40,935
Total assets	12,936,177	12,705,405
LIABILITIES AND EQUITY
Unsecured debt, net	5,607,985	4,763,206
Mortgage notes payable, net	643,550	990,667
Lines of credit	0	55,000
Accounts payable and accrued liabilities	152,855	158,017
Construction payable	31,417	48,912
Dividends payable	141,917	135,384
Operating lease liabilities	74,037	76,740
Liabilities associated with real estate held for sale	29,845	0
Other liabilities	39,140	36,565
Total liabilities	6,720,746	6,264,491
Commitments and contingencies
Redeemable noncontrolling interest	32,239	37,410
Limited Partners:
Accumulated other comprehensive loss, net	(11,303)	(10,432)
Total partners' capital	6,062,020	6,281,242
Noncontrolling interest	121,172	122,262
Total capital	6,183,192	6,403,504
Total liabilities and equity/capital	12,936,177	12,705,405
Essex Portfolio, L.P. \| General Partner
General Partner:
Common equity (64,999,015 and 66,091,954 units issued and outstanding, respectively)	6,015,139	6,234,315
Essex Portfolio, L.P. \| General Partner \| Common Equity
General Partner:
Common equity (64,999,015 and 66,091,954 units issued and outstanding, respectively)	6,015,139	6,234,315
Limited Partners:
Total capital	6,015,139	6,234,315
Essex Portfolio, L.P. \| Limited Partner
Limited Partners:
Common equity (2,294,760 and 2,301,653 units issued and outstanding, respectively)	58,184	57,359
Essex Portfolio, L.P. \| Limited Partner \| Common Equity
Limited Partners:
Total capital	$ 58,184	$ 57,359

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Marketable securities, allowance for credit loss	$ 0	$ 0
Notes and other receivable, allowance for credit loss	751	0
Due from related parties	$ 4,700	$ 90,200
Common stock, par value per share	$ 0.0001	$ 0.0001
Common stock, shares authorized	670,000,000	670,000,000
Common stock, shares issued	64,999,015	66,091,954
Common stock shares outstanding	64,999,015	66,091,954
Essex Portfolio, L.P.
Marketable securities, allowance for credit loss	$ 0	$ 0
Notes and other receivable, allowance for credit loss	800	0
Due from related parties	$ 4,700	$ 90,200
Essex Portfolio, L.P. \| General Partner
Common stock, shares issued	64,999,015	66,091,954
Common stock shares outstanding	64,999,015	66,091,954
Essex Portfolio, L.P. \| Limited Partner
Common stock, shares issued	2,294,760	2,301,653
Common stock shares outstanding	2,294,760	2,301,653

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Rental and other property	$ 1,486,150	$ 1,450,628	$ 1,390,870
Management and other fees from affiliates	9,598	9,527	9,183
Total revenues	1,495,748	1,460,155	1,400,053
Expenses:
Property operating, excluding real estate taxes	263,389	241,357	232,771
Real estate taxes	177,011	155,170	151,570
Corporate-level property management expenses	34,573	34,067	32,055
Depreciation and amortization	525,497	483,750	479,884
General and administrative	65,388	54,262	53,451
Expensed acquisition and investment related costs	1,591	168	194
Impairment loss	1,825	7,105	0
Total expenses	1,069,274	975,879	949,925
Gain (loss) on sale of real estate and land	64,967	(3,164)	61,861
Earnings from operations	491,441	481,112	511,989
Interest expense	(220,633)	(217,339)	(220,492)
Total return swap income	10,733	8,446	8,707
Interest and other income	40,999	46,298	23,010
Equity income from co-investments	66,512	112,136	89,132
Deferred tax expense on unrealized gain on unconsolidated co-investment	(1,531)	(1,457)	0
(Loss) gain on early retirement of debt, net	(22,883)	3,717	0
Gain on remeasurement of co-investment	234,694	31,535	1,253
Net income	599,332	464,448	413,599
Net income attributable to noncontrolling interest	(30,462)	(25,162)	(23,446)
Net income available to common stockholders/unitholders	$ 568,870	$ 439,286	$ 390,153
Basic:
Net income available to common stockholders/unitholders (in dollars per share)	$ 8.69	$ 6.67	$ 5.91
Weighted average number of shares/units outstanding during the year (in shares)	65,454,057	65,840,422	66,041,058
Diluted:
Net income available to common stockholders/unitholders (in dollars per share)	$ 8.69	$ 6.66	$ 5.90
Weighted average number of shares/units outstanding during the year (in shares)	65,564,982	65,939,455	66,085,089
Essex Portfolio, L.P.
Revenues:
Rental and other property	$ 1,486,150	$ 1,450,628	$ 1,390,870
Management and other fees from affiliates	9,598	9,527	9,183
Total revenues	1,495,748	1,460,155	1,400,053
Expenses:
Property operating, excluding real estate taxes	263,389	241,357	232,771
Real estate taxes	177,011	155,170	151,570
Corporate-level property management expenses	34,573	34,067	32,055
Depreciation and amortization	525,497	483,750	479,884
General and administrative	65,388	54,262	53,451
Expensed acquisition and investment related costs	1,591	168	194
Impairment loss	1,825	7,105	0
Total expenses	1,069,274	975,879	949,925
Gain (loss) on sale of real estate and land	64,967	(3,164)	61,861
Earnings from operations	491,441	481,112	511,989
Interest expense	(220,633)	(217,339)	(220,492)
Total return swap income	10,733	8,446	8,707
Interest and other income	40,999	46,298	23,010
Equity income from co-investments	66,512	112,136	89,132
Deferred tax expense on unrealized gain on unconsolidated co-investment	(1,531)	(1,457)	0
(Loss) gain on early retirement of debt, net	(22,883)	3,717	0
Gain on remeasurement of co-investment	234,694	31,535	1,253
Net income	599,332	464,448	413,599
Net income attributable to noncontrolling interest	(10,550)	(9,819)	(9,994)
Net income available to common stockholders/unitholders	$ 588,782	$ 454,629	$ 403,605
Basic:
Net income available to common stockholders/unitholders (in dollars per share)	$ 8.69	$ 6.67	$ 5.91
Weighted average number of shares/units outstanding during the year (in shares)	67,750,665	68,140,900	68,315,999
Diluted:
Net income available to common stockholders/unitholders (in dollars per share)	$ 8.69	$ 6.66	$ 5.90
Weighted average number of shares/units outstanding during the year (in shares)	67,861,590	68,239,933	68,360,030

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income	$ 599,332	$ 464,448	$ 413,599
Other comprehensive income (loss):
Change in fair value of derivatives and amortization of swap settlements	(4,148)	(2,948)	7,824
Cash flow hedge losses reclassified to earnings	3,338	1,824	0
Change in fair value of marketable debt securities, net	(61)	281	(118)
Reversal of unrealized (gains) losses upon the sale of marketable debt securities	0	(32)	13
Total other comprehensive (loss) income	(871)	(875)	7,719
Comprehensive income	598,461	463,573	421,318
Comprehensive income attributable to noncontrolling interest	(30,432)	(25,133)	(23,702)
Comprehensive income attributable to controlling interest	568,029	438,440	397,616
Essex Portfolio, L.P.
Net income	599,332	464,448	413,599
Other comprehensive income (loss):
Change in fair value of derivatives and amortization of swap settlements	(4,148)	(2,948)	7,824
Cash flow hedge losses reclassified to earnings	3,338	1,824	0
Change in fair value of marketable debt securities, net	(61)	281	(118)
Reversal of unrealized (gains) losses upon the sale of marketable debt securities	0	(32)	13
Total other comprehensive (loss) income	(871)	(875)	7,719
Comprehensive income	598,461	463,573	421,318
Comprehensive income attributable to noncontrolling interest	(10,550)	(9,819)	(9,994)
Comprehensive income attributable to controlling interest	$ 587,911	$ 453,754	$ 411,324

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common stock	Additional paid-in capital	Distributions in excess of accumulated earnings	Distributions in excess of accumulated earningsCumulative Effect, Period of Adoption, Adjustment	Accumulated other comprehensive loss, net	Accumulated other comprehensive loss, netCumulative Effect, Period of Adoption, Adjustment	Noncontrolling interest	Noncontrolling interestCumulative Effect, Period of Adoption, Adjustment
Issuance of common stock under:
Cumulative effect upon adoption	$ 6,396,825		$ 7	$ 7,129,571	$ (833,726)		$ (18,446)		$ 119,419
Cumulative effect upon adoption \| ASU 2016-01		$ 0				$ 2,234		$ (2,234)
Cumulative effect upon adoption \| ASU 2017-05		123,708				119,651				$ 4,057
Balances at Dec. 31, 2017	6,396,825		$ 7	7,129,571	(833,726)		(18,446)		119,419
Balances (ASU 2016-01) at Dec. 31, 2017		0				2,234		(2,234)
Balances (ASU 2017-05) at Dec. 31, 2017		123,708				119,651				4,057
Balances (in shares) at Dec. 31, 2017			66,054
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	413,599				390,153				23,446
Reversal of unrealized gains upon the sale of marketable securities	13						13
Cash flow hedge losses reclassified to earnings	0
Change in fair value of derivatives and amortization of swap settlements	7,824						7,564		260
Change in fair value of marketable securities, net	(118)						(114)		(4)
Issuance of common stock under:
Stock option and restricted stock plans, net	6,213			6,213
Stock option and restricted stock plans, net (in shares)			41
Sale of common stock, net	(919)			(919)
Equity based compensation costs	12,851			11,651					1,200
Retirement of common stock, net	(51,233)			(51,233)
Retirement of common stock, net (in shares)			(210)
Cumulative effect upon adoption	$ 6,393,844		$ 7	7,093,079	(812,796)		(13,217)		126,771
Cumulative effect upon adoption \| ASU 2016-01		0				2,234		(2,234)
Cumulative effect upon adoption \| ASU 2017-05		123,708				119,651				4,057
Cumulative effect upon adoption \| ASU 2017-12		181						175		6
Accounting Standards Update [Extensible List] \| ASU 2016-01	us-gaap:AccountingStandardsUpdate201601Member
Accounting Standards Update [Extensible List] \| ASU 2017-05	us-gaap:AccountingStandardsUpdate201705Member
Changes in the redemption value of redeemable noncontrolling interest	$ (1,164)			(1,143)					(21)
Changes in noncontrolling interest from acquisition	7,919								7,919
Distributions to noncontrolling interest	(29,233)								(29,233)
Redemptions of noncontrolling interest	(1,333)			(1,061)					(272)
Redemptions of noncontrolling interest (in shares)			5
Common stock dividends	(491,108)				(491,108)
Balances at Dec. 31, 2018	6,393,844		$ 7	7,093,079	(812,796)		(13,217)		126,771
Balances (ASU 2017-12) at Dec. 31, 2018		181						175		6
Balances (in shares) at Dec. 31, 2018			65,890
Issuance of common stock under:
Cumulative effect upon adoption	6,393,844		$ 7	7,093,079	(812,796)		(13,217)		126,771
Cumulative effect upon adoption \| ASU 2017-12		181						175		6
Net income	464,448				439,286				25,162
Reversal of unrealized gains upon the sale of marketable securities	(32)						(31)		(1)
Cash flow hedge losses reclassified to earnings	1,824						1,762		62
Change in fair value of derivatives and amortization of swap settlements	(2,948)						(2,849)		(99)
Change in fair value of marketable securities, net	281						272		9
Stock option and restricted stock plans, net	33,779			33,779
Stock option and restricted stock plans, net (in shares)			195
Sale of common stock, net	72,539			72,539
Sale of common stock, net (in shares)			228
Equity based compensation costs	12,283			11,029					1,254
Retirement of common stock, net	(56,989)			(56,989)
Retirement of common stock, net (in shares)			(234)
Cumulative effect upon adoption	$ 6,403,504		$ 7	7,121,927	(887,619)	(190)	(13,888)		183,077
Cumulative effect upon adoption \| ASU 2017-12		181						$ 175		$ 6
Cumulative effect upon adoption \| ASU 2016-13		(190)
Accounting Standards Update [Extensible List] \| ASU 2017-12	us-gaap:AccountingStandardsUpdate201712Member
Changes in the redemption value of redeemable noncontrolling interest	$ (2,008)			(3,427)					1,419
Changes in noncontrolling interest from acquisition	65,472								65,472
Distributions to noncontrolling interest	(28,493)								(28,493)
Redemptions of noncontrolling interest	(36,568)			(28,083)					(8,485)
Redemptions of noncontrolling interest (in shares)			13
Common stock dividends	(514,109)				(514,109)
Balances at Dec. 31, 2019	6,403,504		$ 7	7,121,927	(887,619)	(190)	(13,888)		183,077
Balances (ASU 2016-13) at Dec. 31, 2019		(190)
Balances (in shares) at Dec. 31, 2019			66,092
Issuance of common stock under:
Cumulative effect upon adoption	6,403,504		$ 7	7,121,927	(887,619)	(190)	(13,888)		183,077
Cumulative effect upon adoption \| ASU 2016-13		(190)
Net income	599,332				568,870				30,462
Reversal of unrealized gains upon the sale of marketable securities	0
Cash flow hedge losses reclassified to earnings	3,338						3,225		113
Change in fair value of derivatives and amortization of swap settlements	(4,148)						(4,007)		(141)
Change in fair value of marketable securities, net	(61)						(59)		(2)
Stock option and restricted stock plans, net	9,201			9,201
Stock option and restricted stock plans, net (in shares)			95
Sale of common stock, net	(296)			(296)
Equity based compensation costs	12,913			12,453					460
Retirement of common stock, net	(269,315)		$ (1)	(269,314)
Retirement of common stock, net (in shares)			(1,197)
Cumulative effect upon adoption	$ 6,403,504		$ 6	6,876,326	(861,193)	$ (190)	(14,729)		182,782
Cumulative effect upon adoption \| ASU 2016-13		$ (190)
Accounting Standards Update [Extensible List] \| ASU 2016-13	us-gaap:AccountingStandardsUpdate201613Member
Changes in the redemption value of redeemable noncontrolling interest	$ 4,299			4,375					(76)
Changes in noncontrolling interest from acquisition	1,349								1,349
Distributions to noncontrolling interest	(31,367)								(31,367)
Redemptions of noncontrolling interest	(3,113)			(2,020)					(1,093)
Redemptions of noncontrolling interest (in shares)			9
Common stock dividends	(542,254)				(542,254)
Balances at Dec. 31, 2020	6,183,192		$ 6	6,876,326	(861,193)		(14,729)		182,782
Balances (in shares) at Dec. 31, 2020			64,999
Issuance of common stock under:
Cumulative effect upon adoption	$ 6,183,192		$ 6	$ 6,876,326	$ (861,193)		$ (14,729)		$ 182,782

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 8.31	$ 7.80	$ 7.44

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	$ 599,332	$ 464,448	$ 413,599
Reversal of unrealized gains upon the sale of marketable securities	0	(32)	13
Cash flow hedge losses reclassified to earnings	3,338	1,824	0
Change in fair value of derivatives and amortization of swap settlements	(4,148)	(2,948)	7,824
Change in fair value of marketable securities, net	(61)	281	(118)
Issuance of common stock under:
Sale of common stock by general partner, net	(296)	72,539	(919)
Retirement of common stock, net	(269,315)	(56,989)	(51,233)
Changes in the redemption value of redeemable noncontrolling interest	4,299	(2,008)	(1,164)
Changes in noncontrolling interest from acquisition	1,349	65,472	7,919
Distributions to noncontrolling interest	(31,367)	(28,493)	(29,233)
Redemptions	(3,113)	$ (36,568)	$ (1,333)
ASU 2016-01
Issuance of common stock under:
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201601Member
ASU 2017-05
Issuance of common stock under:
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201705Member
ASU 2017-12
Issuance of common stock under:
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201712Member
Essex Portfolio, L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances	6,403,504	$ 6,393,844	$ 6,396,825
Net income	599,332	464,448	413,599
Reversal of unrealized gains upon the sale of marketable securities	0	(32)	13
Cash flow hedge losses reclassified to earnings	3,338	1,824	0
Change in fair value of derivatives and amortization of swap settlements	(4,148)	(2,948)	7,824
Change in fair value of marketable securities, net	(61)	281	(118)
Issuance of common stock under:
General partner's stock based compensation, net	9,201	33,779	6,213
Sale of common stock by general partner, net	(296)	72,539	(919)
Equity based compensation costs	12,913	12,283	12,851
Retirement of common stock, net	(269,315)	(56,989)	(51,233)
Cumulative effect upon adoption	6,403,504	6,403,504	6,393,844
Changes in the redemption value of redeemable noncontrolling interest	4,299	(2,008)	(1,164)
Changes in noncontrolling interest from acquisition	1,349	65,472	7,919
Distributions to noncontrolling interest	(12,292)	(10,521)	(12,174)
Redemptions	(3,113)	(36,568)	(1,333)
Distributions declared	(561,329)	(532,081)	(508,167)
Balances	6,183,192	6,403,504	6,393,844
Essex Portfolio, L.P. \| Cumulative Effect, Period of Adoption, Adjustment \| ASU 2017-05
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances			123,708
Issuance of common stock under:
Cumulative effect upon adoption			123,708
Essex Portfolio, L.P. \| Cumulative Effect, Period of Adoption, Adjustment \| ASU 2017-12
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances	(190)	181
Issuance of common stock under:
Cumulative effect upon adoption	(190)	(190)	181
Balances		(190)	181
Essex Portfolio, L.P. \| Accumulated other comprehensive loss, net
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances	(10,432)	(9,738)	(15,229)
Reversal of unrealized gains upon the sale of marketable securities		(32)	13
Cash flow hedge losses reclassified to earnings	3,338	1,824
Change in fair value of derivatives and amortization of swap settlements	(4,148)	(2,948)	7,824
Change in fair value of marketable securities, net	(61)	281	(118)
Issuance of common stock under:
Cumulative effect upon adoption	(11,303)	(10,432)	(9,738)
Balances	(11,303)	(10,432)	(9,738)
Essex Portfolio, L.P. \| Accumulated other comprehensive loss, net \| Cumulative Effect, Period of Adoption, Adjustment \| ASU 2016-01
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances			(2,228)
Issuance of common stock under:
Cumulative effect upon adoption			(2,228)
Essex Portfolio, L.P. \| Accumulated other comprehensive loss, net \| Cumulative Effect, Period of Adoption, Adjustment \| ASU 2017-12
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances		181
Issuance of common stock under:
Cumulative effect upon adoption		181	181
Balances			181
Essex Portfolio, L.P. \| Noncontrolling interest
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances	122,262	64,231	66,410
Net income	10,550	9,819	9,994
Issuance of common stock under:
Cumulative effect upon adoption	121,172	122,262	64,231
Changes in the redemption value of redeemable noncontrolling interest	121	1,310	68
Changes in noncontrolling interest from acquisition	1,349	65,472
Distributions to noncontrolling interest	(12,292)	(10,521)	(12,174)
Redemptions	(818)	(8,049)	(67)
Balances	121,172	122,262	64,231
Essex Portfolio, L.P. \| General Partner \| Common Equity
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances	$ 6,234,315	$ 6,280,290	$ 6,295,852
Balances (in shares)	66,092	65,890	66,054
Net income	$ 568,870	$ 439,286	$ 390,153
Issuance of common stock under:
General partner's stock based compensation, net	$ 9,201	$ 33,779	$ 6,213
General partner's stock based compensation, net (in shares)	95	195	41
Sale of common stock by general partner, net	$ (296)	$ 72,539	$ (919)
Sale of common stock by general partner, net (in shares)		228
Equity based compensation costs	12,453	$ 11,029	11,651
Retirement of common stock, net	$ (269,315)	$ (56,989)	$ (51,233)
Retirement of common stock, net (in shares)	(1,197)	(234)	(210)
Cumulative effect upon adoption	$ 6,015,139	$ 6,234,315	$ 6,280,290
Changes in the redemption value of redeemable noncontrolling interest	4,375	(3,427)	(1,143)
Redemptions	$ (2,020)	$ (28,083)	$ (1,061)
Redemptions (in shares)	9	13	5
Distributions declared	$ (542,254)	$ (514,109)	$ (491,108)
Balances	$ 6,015,139	$ 6,234,315	$ 6,280,290
Balances (in shares)	64,999	66,092	65,890
Essex Portfolio, L.P. \| General Partner \| Common Equity \| ASU 2016-01
Issuance of common stock under:
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201601Member
Essex Portfolio, L.P. \| General Partner \| Common Equity \| ASU 2017-05
Issuance of common stock under:
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201705Member
Essex Portfolio, L.P. \| General Partner \| Common Equity \| ASU 2017-12
Issuance of common stock under:
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201712Member
Essex Portfolio, L.P. \| General Partner \| Common Equity \| Cumulative Effect, Period of Adoption, Adjustment \| ASU 2016-01
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances			$ 2,234
Issuance of common stock under:
Cumulative effect upon adoption			2,234
Essex Portfolio, L.P. \| General Partner \| Common Equity \| Cumulative Effect, Period of Adoption, Adjustment \| ASU 2017-05
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances			119,651
Issuance of common stock under:
Cumulative effect upon adoption			119,651
Essex Portfolio, L.P. \| General Partner \| Common Equity \| Cumulative Effect, Period of Adoption, Adjustment \| ASU 2017-12
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances	$ (190)
Issuance of common stock under:
Cumulative effect upon adoption	(190)	$ (190)
Balances		(190)
Essex Portfolio, L.P. \| Limited Partner \| Common Equity
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances	$ 57,359	$ 59,061	$ 49,792
Balances (in shares)	2,302	2,305	2,268
Net income	$ 19,912	$ 15,343	$ 13,452
Issuance of common stock under:
Equity based compensation costs	$ 460	$ 1,254	$ 1,200
Equity based compensation costs (in shares)	2	10	11
Cumulative effect upon adoption	$ 58,184	$ 57,359	$ 59,061
Changes in the redemption value of redeemable noncontrolling interest	(197)	109	(89)
Changes in noncontrolling interest from acquisition			$ 7,919
Changes in noncontrolling interest from acquisition (in shares)			31
Redemptions	$ (275)	$ (436)	$ (205)
Redemptions (in shares)	(9)	(13)	(5)
Distributions declared	$ (19,075)	$ (17,972)	$ (17,059)
Balances	$ 58,184	$ 57,359	$ 59,061
Balances (in shares)	2,295	2,302	2,305
Essex Portfolio, L.P. \| Limited Partner \| Common Equity \| Cumulative Effect, Period of Adoption, Adjustment \| ASU 2016-01
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances			$ (6)
Issuance of common stock under:
Cumulative effect upon adoption			(6)
Essex Portfolio, L.P. \| Limited Partner \| Common Equity \| Cumulative Effect, Period of Adoption, Adjustment \| ASU 2017-05
Increase (Decrease) in Partners' Capital [Roll Forward]
Balances			4,057
Issuance of common stock under:
Cumulative effect upon adoption			$ 4,057

Consolidated Statements of Ca_2

Consolidated Statements of Capital (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Essex Portfolio, L.P. \| Preferred Equity
Distributions declared (in dollars per share)	$ 8.31	$ 7.80	$ 7.44

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 599,332	$ 464,448	$ 413,599
Adjustments to reconcile net income to net cash provided by operating activities:
Straight-lined rents	(19,426)	(1,218)	(347)
Depreciation and amortization	525,497	483,750	479,884
Amortization of discount on marketable securities	(19,075)	(28,491)	(17,637)
Amortization of (premium) discount and debt financing costs, net	6,674	5,689	(2,587)
Gain on sale of marketable securities	(2,131)	(1,271)	(737)
Provision for credit losses	687	0	0
Unrealized (gains) losses on equity securities recognized through income	(12,515)	(5,710)	5,159
Company's share of gain on the sales of co-investments	(2,225)	(51,097)	(10,569)
Earnings from co-investments	(64,287)	(61,039)	(78,563)
Operating distributions from co-investments	74,419	99,277	99,593
Accrued interest from notes and other receivables	(3,683)	(6,012)	(5,436)
Impairment loss	1,825	7,105	0
(Gain) loss on the sale of real estate and land	(64,967)	3,164	(61,861)
Equity-based compensation	8,157	7,010	7,135
Loss (gain) on early retirement of debt, net	22,883	(3,717)	0
Gain on remeasurement of co-investment	(234,694)	(31,535)	(1,253)
Changes in operating assets and liabilities:
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets	(3,730)	6,969	(856)
Accounts payable, accrued liabilities, and operating lease liabilities	(10,382)	29,551	(145)
Other liabilities	749	2,206	1,175
Net cash provided by operating activities	803,108	919,079	826,554
Additions to real estate:
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired	(460,421)	(133,825)	(15,311)
Redevelopment	(48,980)	(70,295)	(73,000)
Development acquisitions of and additions to real estate under development	(108,781)	(158,234)	(182,772)
Capital expenditures on rental properties	(90,085)	(101,689)	(81,684)
Investments in notes receivable	(135,343)	(231,400)	0
Collections of notes and other receivables	98,711	168,720	29,500
Proceeds from insurance for property losses	723	3,734	1,408
Proceeds from dispositions of real estate	339,165	23,214	347,587
Contributions to co-investments	(114,017)	(402,284)	(162,437)
Changes in refundable deposits	96	5	(414)
Purchases of marketable securities	(83,379)	(46,458)	(37,952)
Sales and maturities of marketable securities	113,465	147,531	31,521
Non-operating distributions from co-investments	71,946	273,290	83,661
Net cash used in investing activities	(416,900)	(527,691)	(59,893)
Cash flows from financing activities:
Proceeds from unsecured debt and mortgage notes	1,452,808	1,045,290	298,773
Payments on unsecured debt and mortgage notes	(916,209)	(1,026,616)	(230,398)
Proceeds from lines of credit	1,038,426	1,939,213	742,961
Repayments of lines of credit	(1,093,426)	(1,884,213)	(921,961)
Retirement of common stock	(269,315)	(56,989)	(51,233)
Additions to deferred charges	(13,772)	(10,898)	(4,250)
Payments related to debt prepayment penalties	(19,605)	(1,406)	0
Net proceeds from issuance of common stock	(296)	72,539	(919)
Net proceeds from stock options exercised	14,865	37,467	6,213
Payments related to tax withholding for share-based compensation	(5,664)	(3,688)	(869)
Distributions to noncontrolling interest	(30,990)	(27,993)	(29,050)
Redemption of noncontrolling interest	(3,113)	(36,568)	(1,333)
Redemption of redeemable noncontrolling interest	(872)	(73)	(144)
Common stock dividends paid	(536,098)	(507,754)	(484,182)
Net cash used in financing activities	(383,261)	(461,689)	(676,392)
Net increase (decrease) in unrestricted and restricted cash and cash equivalents	2,947	(70,301)	90,269
Unrestricted and restricted cash and cash equivalents at beginning of period	81,094	151,395	61,126
Unrestricted and restricted cash and cash equivalents at end of period	84,041	81,094	151,395
Supplemental disclosure of cash flow information:
Cash paid for interest, net of capitalized interest	211,732	194,418	203,803
Interest capitalized	14,615	24,169	18,708
Operating cash flows from operating leases	6,892	6,811	0
Supplemental disclosure of noncash investing and financing activities:
Issuance of Operating Partnership units for contributed properties	0	0	7,919
Issuance of DownREIT units in connection with acquisition of real estate	0	65,472	0
Transfers between real estate under development and rental properties, net	253,039	19,812	100,415
Transfer from real estate under development to co-investments	1,739	671	853
Reclassifications (from) to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest	(4,299)	2,008	1,165
Redemption of redeemable noncontrolling interest via reduction of note receivable	0	0	4,751
Initial recognition of operating lease right-of-use assets	0	77,645	0
Initial recognition of operating lease liabilities	0	79,693	0
Debt assumed in connection with acquisition	0	143,006	45,804
Repayment of mortgage note from new financing proceeds	0	0	52,000
Essex Portfolio, L.P.
Cash flows from operating activities:
Net income	599,332	464,448	413,599
Adjustments to reconcile net income to net cash provided by operating activities:
Straight-lined rents	(19,426)	(1,218)	(347)
Depreciation and amortization	525,497	483,750	479,884
Amortization of discount on marketable securities	(19,075)	(28,491)	(17,637)
Amortization of (premium) discount and debt financing costs, net	6,674	5,689	(2,587)
Gain on sale of marketable securities	(2,131)	(1,271)	(737)
Provision for credit losses	687	0	0
Unrealized (gains) losses on equity securities recognized through income	(12,515)	(5,710)	5,159
Company's share of gain on the sales of co-investments	(2,225)	(51,097)	(10,569)
Earnings from co-investments	(64,287)	(61,039)	(78,563)
Operating distributions from co-investments	74,419	99,277	99,593
Accrued interest from notes and other receivables	(3,683)	(6,012)	(5,436)
Impairment loss	1,825	7,105	0
(Gain) loss on the sale of real estate and land	(64,967)	3,164	(61,861)
Equity-based compensation	8,157	7,010	7,135
Loss (gain) on early retirement of debt, net	22,883	(3,717)	0
Gain on remeasurement of co-investment	(234,694)	(31,535)	(1,253)
Changes in operating assets and liabilities:
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets	(3,730)	6,969	(856)
Accounts payable, accrued liabilities, and operating lease liabilities	(10,382)	29,551	(145)
Other liabilities	749	2,206	1,175
Net cash provided by operating activities	803,108	919,079	826,554
Additions to real estate:
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired	(460,421)	(133,825)	(15,311)
Redevelopment	(48,980)	(70,295)	(73,000)
Development acquisitions of and additions to real estate under development	(108,781)	(158,234)	(182,772)
Capital expenditures on rental properties	(90,085)	(101,689)	(81,684)
Investments in notes receivable	(135,343)	(231,400)	0
Collections of notes and other receivables	98,711	168,720	29,500
Proceeds from insurance for property losses	723	3,734	1,408
Proceeds from dispositions of real estate	339,165	23,214	347,587
Contributions to co-investments	(114,017)	(402,284)	(162,437)
Changes in refundable deposits	96	5	(414)
Purchases of marketable securities	(83,379)	(46,458)	(37,952)
Sales and maturities of marketable securities	113,465	147,531	31,521
Non-operating distributions from co-investments	71,946	273,290	83,661
Net cash used in investing activities	(416,900)	(527,691)	(59,893)
Cash flows from financing activities:
Proceeds from unsecured debt and mortgage notes	1,452,808	1,045,290	298,773
Payments on unsecured debt and mortgage notes	(916,209)	(1,026,616)	(230,398)
Proceeds from lines of credit	1,038,426	1,939,213	742,961
Repayments of lines of credit	(1,093,426)	(1,884,213)	(921,961)
Retirement of common stock	(269,315)	(56,989)	(51,233)
Additions to deferred charges	(13,772)	(10,898)	(4,250)
Payments related to debt prepayment penalties	(19,605)	(1,406)	0
Net proceeds from issuance of common stock	(296)	72,539	(919)
Net proceeds from stock options exercised	14,865	37,467	6,213
Payments related to tax withholding for share-based compensation	(5,664)	(3,688)	(869)
Distributions to noncontrolling interest	(8,409)	(7,288)	(8,518)
Redemption of noncontrolling interest	(3,113)	(36,568)	(1,333)
Redemption of redeemable noncontrolling interest	(872)	(73)	(144)
Common stock dividends paid	(558,679)	(528,459)	(504,714)
Net cash used in financing activities	(383,261)	(461,689)	(676,392)
Net increase (decrease) in unrestricted and restricted cash and cash equivalents	2,947	(70,301)	90,269
Unrestricted and restricted cash and cash equivalents at beginning of period	81,094	151,395	61,126
Unrestricted and restricted cash and cash equivalents at end of period	84,041	81,094	151,395
Supplemental disclosure of cash flow information:
Cash paid for interest, net of capitalized interest	211,732	194,418	203,803
Interest capitalized	14,615	24,169	18,708
Operating cash flows from operating leases	6,892	6,811	0
Supplemental disclosure of noncash investing and financing activities:
Issuance of Operating Partnership units for contributed properties	0	0	7,919
Issuance of DownREIT units in connection with acquisition of real estate	0	65,472	0
Transfers between real estate under development and rental properties, net	253,039	19,812	100,415
Transfer from real estate under development to co-investments	1,739	671	853
Reclassifications (from) to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest	(4,299)	2,008	1,165
Redemption of redeemable noncontrolling interest via reduction of note receivable	0	0	4,751
Initial recognition of operating lease right-of-use assets	0	77,645	0
Initial recognition of operating lease liabilities	0	79,693	0
Debt assumed in connection with acquisition	0	143,006	45,804
Repayment of mortgage note from new financing proceeds	$ 0	$ 0	$ 52,000

Organization

Organization	12 Months Ended
Organization	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization The accompanying consolidated financial statements present the accounts of Essex Property Trust, Inc. ("Essex" or the "Company"), which include the accounts of the Company and Essex Portfolio, L.P. and its subsidiaries (the "Operating Partnership," which holds the operating assets of the Company). Unless otherwise indicated, the notes to consolidated financial statements apply to both the Company and the Operating Partnership. Essex is the sole general partner of the Operating Partnership with a 96.6% general partner interest and the limited partners owned a 3.4% interest as of December 31, 2020. The limited partners may convert their Operating Partnership units into an equivalent number of shares of Essex common stock. Total Operating Partnership limited partnership units outstanding were 2,294,760 and 2,301,653 as of December 31, 2020 and 2019, respectively, and the redemption value of the units, based on the closing price of the Company’s common stock, totaled approximately $544.8 million and $692.5 million, as of December 31, 2020 and 2019, respectively. The Company has reserved shares of common stock for such conversions. As of December 31, 2020, the Company owned or had ownership interests in 246 operating apartment communities, comprising 60,272 apartment homes, excluding the Company's ownership interests in preferred interest co-investments, loan investments, one operating commercial building, and a development pipeline comprised of three consolidated projects and three unconsolidated joint venture projects. The operating apartment communities are located in Southern California (primarily Los Angeles, Orange, San Diego, and Ventura counties), Northern California (the San Francisco Bay Area) and the Seattle metropolitan areas.

Summary of Critical and Signifi

Summary of Critical and Significant Accounting Policies	12 Months Ended
Summary of Critical and Significant Accounting Policies	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Critical and Significant Accounting Policies	Summary of Critical and Significant Accounting Policies (a) Principles of Consolidation and Basis of Presentation The accounts of the Company, its controlled subsidiaries and the variable interest entities ("VIEs") in which it is the primary beneficiary are consolidated in the accompanying financial statements and prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"). In the opinion of management, all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been included and are normal and recurring in nature. All significant inter-company accounts and transactions have been eliminated. Noncontrolling interest includes the 3.4% limited partner interests in the Operating Partnership not held by the Company at both December 31, 2020 and 2019. These percentages include the Operating Partnership’s vested long-term incentive plan units (see Note 14). (b) Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02 "Leases (Topic 842)" which requires an entity that is a lessee to classify leases as either finance or operating and to recognize a lease liability and a right-of-use asset for all leases that have a duration of greater than 12 months. Leases of 12 months or less are to be accounted for similar to prior leasing guidance (Topic 840) for operating leases. For lessors, accounting for leases under the new standard is substantially the same as prior leasing guidance for sales-type leases, direct financing leases, and operating leases, but eliminates current real estate specific provisions and changes the treatment of initial direct costs. In July 2018, the FASB issued ASU No. 2018-11 "Leases (Topic 842): Targeted Improvements," which includes a practical expedient that allows lessors to not separate nonlease components from the associated lease component. This provides the Company with the option of not bifurcating certain common area maintenance recoveries as a non-lease component, if certain requirements are met. The Company adopted ASU No. 2016-02 and ASU No. 2018-11 as of January 1, 2019 using the modified retrospective approach and elected a package of practical expedients. There was no adjustment to the opening balance of retained earnings as a result of the adoption. See Note 10, Lease Agreements - Company as Lessor, and Note 11, Lease Agreements - Company as Lessee, for further details. In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13 "Measurement of Credit Losses on Financial Instruments," which amends the current approach to estimate credit losses on certain financial assets, including trade and other receivables, available-for-sale securities, and other financial instruments. Generally, this amendment requires entities to establish a valuation allowance for the expected lifetime losses of these certain financial assets. Subsequent changes in the valuation allowance are recorded in current earnings and reversal of previous losses are permitted. Previously, U.S. GAAP required entities to write down credit losses only when losses were probable and loss reversals were not permitted. The FASB additionally issued various updates to clarify and amend the guidance provided in ASU No. 2016-13. In May 2019, the FASB issued ASU No. 2019-04, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments," which, with respect to credit losses, among other things, clarifies and addresses issues related to accrued interest, transfers between classifications of loans or debt securities, recoveries, and variable interest rates. Additionally, in May 2019, the FASB issued ASU No. 2019-05, "Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief," which allows entities to irrevocably elect the fair value option on certain financial instruments. The Company adopted ASU No. 2016-13, ASU No. 2019-04, and ASU No. 2019-05 as of January 1, 2020, using the modified retrospective approach by applying a cumulative effect adjustment of $0.2 million representing estimated accumulated credit losses to the opening balance of retained earnings. In August 2018, the FASB issued ASU No. 2018-13 "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement," which eliminates certain disclosure requirements affecting all levels of measurements, and modifies and adds new disclosure requirements for Level 3 measurements. The Company adopted ASU No. 2018-13 as of January 1, 2020. This adoption did not have a material impact on the Company's consolidated results of operations or financial position. In March 2020, the FASB issued ASU No. 2020-04 "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting," which contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU No. 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In April 2020, the FASB issued a Staff Question-and-Answer ("Q&A") to clarify whether lease concessions related to the effects of COVID-19 require the application of the lease modification guidance under Accounting Standards Codification ("ASC") Topic 842, Leases. The Q&A allows companies to not apply the lease modification guidance to rent concessions that result in deferred rent where the total cash flows required by the modified lease agreement are materially the same as the cash flows required under the original lease and the changes to the lease do not result in a substantial increase to the rights of the lessor or the obligations of the lessee. The Company adopted the guidance during the three months ended June 30, 2020 for eligible residential lease concessions. The lease concessions that met the criteria of the Q&A are treated as if they were part of the enforceable rights and obligations of the parties under the existing lease contract. The amount of rent concessions subject to the Q&A were not material and this adoption did not have a material impact on the Company's consolidated results of operations or financial position. (c) Recent Accounting Pronouncements In January 2021, the FASB issued ASU No. 2021-01 "Reference Rate Reform (Topic 848): Scope." The amendments in ASU No. 2021-01 provide optional expedients to the current guidance on contract modifications and hedge accounting from the expected market transition from LIBOR and other interbank offered rates to alternative reference rates. The guidance generally can be applied to applicable contract modifications through December 31, 2022. The Company adopted this new guidance in January 2021 and will apply the guidance on a prospective basis. The Company is currently evaluating the impact of the transition from LIBOR to alternative reference rates and the application of optional expedients available in this guidance, but does not expect a material impact to its consolidated results of operations or financial position. (d) Real Estate Rental Properties Significant expenditures, which improve or extend the life of an asset and have a useful life of greater than one year, are capitalized. Operating real estate assets are stated at cost and consist of land and land improvements, buildings and improvements, furniture, fixtures and equipment, and other costs incurred during their development, redevelopment and acquisition. Expenditures for maintenance and repairs are charged to expense as incurred. The depreciable life of various categories of fixed assets is as follows: Computer software and equipment 3 - 5 years Interior apartment home improvements 5 years Furniture, fixtures and equipment 5 - 10 years Land improvements and certain exterior components of real property 10 years Real estate structures 30 years The Company capitalizes all costs incurred with the predevelopment, development or redevelopment of real estate assets or are associated with the construction or expansion of real property. Such capitalized costs include land, land improvements, allocated costs of the Company’s project management staff, construction costs, as well as interest and related loan fees, property taxes and insurance. Capitalization begins for predevelopment, development, and redevelopment projects when activity commences. Capitalization ends when the apartment home is completed and the property is available for a new tenant or if the development activities cease. The Company allocates the purchase price of real estate on a fair value basis to land and building including personal property, and identifiable intangible assets, such as the value of above, below and in-place leases. In making estimates of relative fair values for purposes of allocating purchase price, the Company utilizes a number of sources, including independent land appraisals which consider comparable market transactions, its own analysis of recently acquired or developed comparable properties in our portfolio for land comparables and building replacement costs, and other publicly available market data. In calculating the fair value of identified intangible assets of an acquired property, the in-place leases are valued based on in-place rent rates and amortized over the average remaining term of all acquired leases. The values of the above and below market leases are amortized and recorded as either a decrease (in the case of above market leases) or an increase (in the case of below market leases) to rental revenue over the remaining term of the associated leases acquired. The value of acquired in-place leases are amortized to expense over the average remaining term of the leases acquired. The net carrying value of acquired in-place leases is $4.7 million and $1.2 million as of December 31, 2020 and 2019, respectively, and are included in prepaid expenses and other assets on the Company's consolidated balance sheets. The Company periodically assesses the carrying value of its real estate investments for indicators of impairment. The judgments regarding the existence of impairment indicators are based on monitoring investment market conditions and performance compared to budget for operating properties including the net operating income for the most recent 12 month period, monitoring estimated costs for properties under development, the Company's ability to hold and its intent with regard to each asset, and each property's remaining useful life. Whenever events or changes in circumstances indicate that the carrying amount of a property held for investment may not be fully recoverable, the carrying amount is evaluated. If the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount (including intangible assets) of a property held for investment, then the Company will recognize an impairment loss equal to the excess of the carrying amount over the fair value of the property. Fair value of a property is determined using conventional real estate valuation methods, such as discounted cash flow, the property’s unleveraged yield in comparison to the unleveraged yields and/or sales prices of similar communities that have been recently sold, and other third party information, if available. Communities held for sale are carried at the lower of cost or fair value less estimated costs to sell. As of December 31, 2020, two properties were classified as held for sale. As of December 31, 2019, no properties were classified as held for sale. The Company recorded an impairment charge of $1.8 million for the year ended December 31, 2020 related to one of the Company's consolidated properties as a result of a change in the Company's intent to hold the property for its remaining useful life. The Company recorded an impairment charge of $7.1 million for the year ended December 31, 2019 on a parcel of land that was part of a consolidated co-investment with Canada Pension Plan Investment Board ("CPPIB" or "CPP"). The impairment charge resulted from the Company's acquisition of CPPIB's 45% interest in the co-investment. The impairment analysis over the parcel’s fair value was determined using internally developed models based on market assumptions. No impairment charges were recorded for the year ended December 31, 2018. In the normal course of business, the Company will receive purchase offers for its communities, either solicited or unsolicited. For those offers that are accepted, the prospective buyer will usually require a due diligence period before consummation of the transaction. It is not unusual for matters to arise that result in the withdrawal or rejection of the offer during this process. The Company classifies real estate as "held for sale" when all criteria under the accounting standard for the disposals of long-lived assets have been met. (e) Co-investments The Company owns investments in joint ventures in which it has significant influence, but its ownership interest does not meet the criteria for consolidation in accordance with U.S. GAAP. Therefore, the Company accounts for co-investments using the equity method of accounting. Under the equity method of accounting, the investment is carried at the cost of assets contributed, plus the Company’s equity in earnings less distributions received and the Company’s share of losses. The significant accounting policies of the Company’s co-investment entities are consistent with those of the Company in all material respects. Upon the acquisition of a controlling interest of a co-investment, the co-investment entity is consolidated and a gain or loss is recognized upon the remeasurement of co-investments in the consolidated statement of income equal to the amount by which the fair value of the Company's previously owned co-investment interest exceeds its carrying value. A majority of the co-investments, excluding most preferred equity investments, compensate the Company for its asset management services and some of these investments may provide promote income if certain financial return benchmarks are achieved. Asset management fees are recognized when earned, and promote fees are recognized when the earnings events have occurred and the amount is determinable and collectible. Any promote fees are reflected in equity income from co-investments. The Company recorded an other-than-temporary impairment charge of $11.5 million for the year ended December 31, 2019 on an unconsolidated co-investment with CPPIB which held Agora, a 49 unit apartment home community located in Walnut Creek, CA. The other-than-temporary impairment charge resulted from the Company's acquisition of CPPIB's 45% interest in the co-investment. The impairment analysis over the co-investments fair value was determined using internally developed models based on market assumptions. The impairment is reflected in equity income from co-investments on the consolidated statements of income. No other-than-temporary impairment charges were recorded for the years ended December 31, 2020 or 2018. (f) Revenues and Gains on Sale of Real Estate Revenues from tenants renting or leasing apartment homes are recorded when due from tenants and are recognized monthly as they are earned, which generally approximates a straight-line basis, else, adjustments are made to conform to a straight-line basis. Apartment homes are rented under short-term leases (generally, lease terms of 9 to 12 months). Revenues from tenants leasing commercial space are recorded on a straight-line basis over the life of the respective lease. See Note 4, Revenues, and Note 10, Lease Agreements - Company as Lessor, for additional information regarding such revenues. The Company also generates other property-related revenue associated with the leasing of apartment homes, including storage income, pet rent, and other miscellaneous revenue. Similar to rental income, such revenues are recorded when due from tenants and recognized monthly as they are earned. Apart from rental and other property-related revenue, revenues from contracts with customers are recognized as control of the promised services is passed to the customer. For customer contracts related to management and other fees from affiliates (which includes asset management and property management), the transaction price and amount of revenue to be recognized is determined each quarter based on the management fee calculated and earned for that month or quarter. The contract will contain a description of the service and the fee percentage for management services. Payments from such services are one month or one quarter in arrears of the service performed. The Company recognizes any gains on sales of real estate when it transfers control of a property and when it is probable that the Company will collect substantially all of the related consideration. (g) Cash, Cash Equivalents and Restricted Cash Highly liquid investments with original maturities of three months or less when purchased are classified as cash equivalents. Restricted cash balances relate primarily to reserve requirements for capital replacement at certain communities in connection with the Company’s mortgage debt. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows ($ in thousands): 2020 2019 2018 Cash and cash equivalents - unrestricted $ 73,629 $ 70,087 $ 134,465 Cash and cash equivalents - restricted 10,412 11,007 16,930 Total unrestricted and restricted cash and cash equivalents shown in the consolidated statements of cash flows $ 84,041 $ 81,094 $ 151,395 (h) Marketable Securities The Company reports its equity securities and available for sale debt securities at fair value, based on quoted market prices (Level 1 for the common stock and investment funds, Level 2 for the unsecured debt and Level 3 for investments in mortgage backed securities, as defined by the FASB standard for fair value measurements as discussed later in Note 2). As of December 31, 2020 and 2019, $2.5 million and $3.6 million, respectively, of equity securities presented within common stock and stock funds in the tables below represent investments measured at fair value, using net asset value as a practical expedient, and are not categorized in the fair value hierarchy. Any unrealized gain or loss in debt securities classified as available for sale is recorded as other comprehensive income. There were no other than temporary impairment charges for the years ended December 31, 2020, 2019, and 2018. Unrealized gains and losses in equity securities, realized gains and losses in debt securities, interest income, and amortization of purchase discounts are included in interest and other income on the consolidated statements of income. As of December 31, 2020 and 2019, equity securities and available for sale debt securities consisted primarily of investment-grade unsecured debt, U.S. treasury securities, and common stock and stock funds. As of December 31, 2019, the Company classified its mortgage backed securities as held to maturity, and accordingly, the securities were stated at their amortized cost. One of the investments in mortgage backed securities matured in November 2019 and the other matured in December 2020. As of December 31, 2020 and 2019, marketable securities consist of the following ($ in thousands): December 31, 2020 Amortized Gross Carrying Allowance for Credit Losses Equity securities: Investment funds - debt securities $ 49,646 $ 985 $ 50,631 $ — Common stock and stock funds 81,074 15,001 96,075 — Debt securities: Available for sale Investment-grade unsecured debt 1,050 12 1,062 — Total - Marketable securities $ 131,770 $ 15,998 $ 147,768 $ — December 31, 2019 Amortized Gross Carrying Equity securities: Investment funds - debt securities $ 29,588 $ 544 $ 30,132 Common stock and stock funds 34,941 2,927 37,868 Debt securities: Available for sale U.S. Treasury securities 2,421 13 2,434 Investment-grade unsecured debt 1,048 60 1,108 Held to maturity: Mortgage backed securities 72,651 — 72,651 Total - Marketable securities $ 140,649 $ 3,544 $ 144,193 The Company uses the specific identification method to determine the cost basis of a debt security sold and to reclassify amounts from accumulated other comprehensive loss for such securities. During the years ended December 31, 2020 and 2019, the Company received cash proceeds of $91.7 million and $83.1 million, respectively, from the maturity of two investments in mortgage backed securities. For the years ended December 31, 2020 and 2019, the Company recognized approximately $11.8 million and $7.0 million, respectively, of accelerated interest income or the reversal of an allowance for credit loss related to these maturities. For the years ended December 31, 2020, 2019 and 2018, the proceeds from sales and maturities of marketable securities totaled $113.5 million, $147.5 million and $31.5 million, respectively. For the years ended December 31, 2020, 2019 and 2018, these sales resulted in gains of $2.1 million, $1.3 million, and $0.7 million, respectively. For the years ended December 31, 2020 and 2019, the portion of equity security unrealized losses or gains that were recognized in income totaled $12.5 million in gains, and $5.7 million in gains, respectively, and were included in interest and other income on the Company's consolidated statements of income and comprehensive income. Unrealized losses on investment-grade unsecured debt as of December 31, 2020 have not been recognized into income because the debts of the issuers are of high credit quality, management does not intend to sell the securities, it is likely that the Company will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to other market conditions. The Company monitors the credit quality of its held to maturity mortgage backed security through the review of remittance reports and individual loan watchlists, which are prepared quarterly and provide most recent debt service coverage ratios for each loan within the security, when available. The Company monitors such reports to determine the likelihood that a particular loan within the mortgage backed security may be foreclosed upon. The Company measures the expected credit loss on its held to maturity mortgage backed security based on the present value of expected future cash flows, which takes into account current market conditions and available credit information obtained from the individual loans held within the mortgage backed security. The following table presents the allowance for credit losses rollforward for the mortgage backed security ($ in thousands): Balance at December 31, 2019 $ — Impact of adoption ASC 326 (1) 13,644 Reversal of provision for credit losses (13,644) Balance at December 31, 2020 $ — (1) As part of the adoption of ASC 326, effective January 1, 2020, the Company recorded a gross up of the mortgage backed security and related allowance for credit losses of $13.6 million. The allowance was reversed upon maturity of the mortgage backed security in December 2020. The Company recorded $11.8 million of accelerated interest income related to this maturity. (i) Notes Receivable Notes receivable relate to real estate financing arrangements including mezzanine and bridge loans. Interest is recognized over the life of the note as interest income. Each note is analyzed to determine if it is impaired. A note is impaired if it is probable that the Company will not collect all contractually due principal and interest. The Company does not accrue interest when a note is considered impaired and an allowance is recorded for any principal and previously accrued interest that are not believed to be collectible. All cash receipts on impaired notes are applied to reduce the principal amount of such notes until the principal has been recovered and, thereafter, are recognized as interest income. As of December 31, 2020 and 2019, no notes were impaired. In the normal course of business, the Company originates and holds two types of loans: mezzanine loans issued to entities that are pursuing apartment development and short-term bridge loans issued to joint ventures with the Company. The Company categorizes development project mezzanine loans into risk categories based on relevant information about the ability of the borrowers to service their debt, such as: current financial information, credit documentation, public information, and previous experience with the borrower. The Company initially analyzes each mezzanine loan individually to classify the credit risk of the loan. On a periodic basis the Company evaluates and performs site visits of the development projects associated with the mezzanine loans to confirm whether they are on budget and whether there are any delays in development that could impact the Company's assessment of credit loss. All bridge loans that the Company issues are, by their nature, short-term and meant only to provide time for the Company’s joint ventures to obtain long-term funding for newly acquired communities. As the Company is a partner in the joint ventures that are borrowing such funds and has performed a detailed review of each community as part of the acquisition process, there is little to no credit risk associated with such loans. As such, the Company does not review credit quality indicators for bridge loans on an ongoing basis. The Company estimates the allowance for credit losses for each loan type using relevant available information from internal and external sources, relating to past events, current conditions, and reasonable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made, if necessary, for differences in current loan-specific risk characteristics. For example, in the case of mezzanine loans, adjustments may be made due to differences in track record and experience of the mezzanine loan sponsor as well as the percent of equity that the sponsor has contributed to the project. (j) Capitalization Policy The Company capitalizes all direct and certain indirect costs, including interest, real estate taxes and insurance, incurred during development and redevelopment activities. Interest is capitalized on real estate assets that require a period of time to get them ready for their intended use. The amount of interest capitalized is based upon the average amount of accumulated development expenditures during the reporting period. Included in capitalized costs are management’s estimates of the direct and incremental personnel costs and indirect project costs associated with the Company's development and redevelopment activities. Indirect project costs consist primarily of personnel costs associated with construction administration and development, including accounting, legal fees, and various corporate and community onsite costs that clearly relate to projects under development. Those costs, inclusive of capitalized interest, as well as capitalized development and redevelopment fees totaled $31.4 million, $42.1 million and $37.3 million for the years ended December 31, 2020, 2019 and 2018, respectively, most of which relates to development projects. The Company capitalizes leasing costs associated with the lease-up of development communities and amortizes the costs over the life of the leases. The amounts capitalized are immaterial for all periods presented. (k) Fair Value of Financial Instruments The Company values its financial instruments based on the fair value hierarchy of valuation techniques described in the FASB’s accounting standard for fair value measurements. Level 1 inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 inputs include quoted prices for similar assets and liabilities in active markets and inputs other than quoted prices observable for the asset or liability. Level 3 inputs are unobservable inputs for the asset or liability. The Company uses Level 1 inputs for the fair values of its cash equivalents and its marketable securities except for unsecured bonds and mortgage backed securities. The Company uses Level 2 inputs for its investments in unsecured debt, notes receivable, notes payable, and derivative assets/liabilities. These inputs include interest rates for similar financial instruments. The Company’s valuation methodology for derivatives is described in Note 9. The Company uses Level 3 inputs to estimate the fair value of its mortgage backed securities. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Management believes that the carrying amounts of the outstanding balances under its lines of credit, and notes and other receivables approximate fair value as of December 31, 2020 and 2019, because interest rates, yields and other terms for these instruments are consistent with interest rates, yields and other terms currently available for similar instruments. Management has estimated that the fair value of fixed rate debt with a carrying value of $5.5 billion and $5.2 billion at December 31, 2020 and 2019, respectively, to be $6.0 billion and $5.4 billion at December 31, 2020 and 2019, respectively. Management has estimated the fair value of the Company’s $775.1 million and $660.4 million of variable rate debt at December 31, 2020 and 2019, respectively, to be $770.1 million and $655.8 million at December 31, 2020 and 2019, respectively, based on the terms of existing mortgage notes payable, unsecured debt, and variable rate demand notes compared to those available in the marketplace. Management believes that the carrying amounts of cash and cash equivalents, restricted cash, accounts payable and accrued liabilities, construction payables, other liabilities and dividends payable approximate fair value as of December 31, 2020 and 2019 due to the short-term maturity of these instruments. Marketable securities, except mortgage backed securities, are carried at fair value as of December 31, 2020 and 2019. At December 31, 2020 and 2019, the Company’s investments in mortgage backed securities had a carrying value of zero and $72.7 million, respectively. In November 2019, the Company received cash proceeds of $83.1 million from the maturity of an investment in a mortgage backed security. Additionally, during 2020, the Company received cash proceeds of $91.7 million from the maturity of the remaining investment in a mortgage backed security. The Company estimated the fair value of its investment in mortgage backed securities at December 31, 2020 and 2019 to be approximately zero and $72.7 million, respectively. The Company determines the fair value of the mortgage backed securities based on unobservable inputs (Level 3 of the fair value hierarchy) considering the assumptions that market participants would make in valuing these securities. Assumptions such as estimated default rates and discount rates are used to determine expected, discounted cash flows to estimate the fair value. (l) Interest Rate Protection, Swap, and Forward Contracts The Company uses interest rate swaps, interest rate caps, and total return swap contracts to manage interest rate risks. The Company’s objective in using derivatives is to add stability to interest expense and to manage its exposure to interest rate movements or other identified risks. To accomplish this objective, the Company uses interest rate swaps as part of its cash flow hedging strategy.

Real Estate Investments

Real Estate Investments	12 Months Ended
Real Estate Investments	Dec. 31, 2020
Real Estate Investments, Net [Abstract]
Real Estate Investments	Real Estate Investments (a) Acquisitions of Real Estate The table below summarizes acquisition activity for the year ended December 31, 2020 ($ in millions): Property Name Location Apartment Homes Essex Ownership Percentage Quarter in 2020 Purchase Price CPPIB Portfolio Various 2,020 100 % Q1 $ 463.4 Total 2020 2,020 $ 463.4 In January 2020, the Company purchased CPPIB's 45.0% interest in each of a land parcel and six communities totaling 2,020 apartment homes, valued at $1.0 billion on a gross basis. As a result of this acquisition, the Company realized a gain on remeasurement of co-investment of $234.7 million. Furthermore, the Company recognized $6.5 million in promote income as a result of the transaction, which is included in equity income from co-investments on the consolidated statements of income. The consolidated fair value of the acquisition listed above was included on the Company's consolidated balance sheet as follows: $189.0 million was included in land and land improvements, $846.0 million was included in buildings and improvements, $10.0 million was included in prepaid expenses and other assets, within the Company's consolidated balance sheets. For the year ended December 31, 2019, the Company purchased four communities consisting of 849 apartment homes for approximately $373.3 million. Additionally, in December 2019, the Company purchased the joint venture partner's 25% ownership interest in Hidden Valley, a consolidated community consisting of 324 apartment homes, for a contract price of $24.2 million based on an estimated property valuation of $97.0 million and an encumbrance of $29.7 million of mortgage debt. The purchase was recorded as a redemption of noncontrolling interest in the consolidated statements of equity. (b) Sales of Real Estate Investments In June 2020, the Company completed a portfolio sale which consisted of two apartment communities with 429 apartment homes, One South Market and Museum Park, both located in San Jose, CA, for a total contract price of $232.0 million. The Company recognized a $16.6 million gain on sale. In July 2020, the Company sold Delano, a 126 apartment home community located in Redmond, WA, for a total contract price of $51.5 million. The Company recognized a $22.7 million gain on sale. In October 2020, the Company sold 416 on Broadway, a 115 apartment home community located in Glendale, CA, for a total contract price of $60.0 million. The Company recognized a $25.7 million gain on sale. For the year ended December 31, 2019, the Company sold a land parcel adjacent to the Mylo development project located in Santa Clara, CA, for $10.8 million and recorded an immaterial gain and sold land located in San Mateo, CA, that had been held for future development for $12.5 million and recorded a loss of $3.2 million. For the year ended December 31, 2018, the Company sold two communities consisting of 669 apartment homes for $352.0 million resulting in gains totaling $61.9 million. (c) Real Estate Assets Held for Sale As of December 31, 2020, the Company had two communities totaling 439 apartment homes that are qualified as held for sale. As of December 31, 2019 the Company had no assets classified as held for sale. (d) Co-investments The Company has joint ventures which are accounted for under the equity method. The co-investments’ accounting policies are similar to the Company’s accounting policies. The co-investments own, operate, and develop apartment communities. The carrying values of the Company’s co-investments as of December 31, 2020 and 2019 are as follows ($ in thousands, except in parenthetical): Weighted Average Essex Ownership December 31, Percentage (1) 2020 2019 Ownership interest in: CPPIB (2) — % $ — $ 345,466 Wesco I, Wesco III, Wesco IV, and Wesco V 51 % 178,322 216,756 BEXAEW, BEX II, BEX III, and BEX IV 50 % 152,309 160,888 Other 47 % 27,635 20,351 Total operating and other co-investments, net 358,266 743,461 Total predevelopment and development co-investments 50 % 157,433 146,944 Total preferred interest co-investments (includes related party investments of $81.4 million and $73.2 million as of December 31, 2020 and December 31, 2019, respectively - Note 6 - Related Party Transactions for further discussion) 502,311 444,934 Total co-investments, net $ 1,018,010 $ 1,335,339 (1) Weighted average Company ownership percentages are as of December 31, 2020. (2) In January 2020, the Company purchased CPPIB's 45.0% interest in each of a land parcel and six communities totaling 2,020 apartment homes. The combined summarized financial information of co-investments is as follows ($ in thousands): December 31, 2020 2019 Combined balance sheets: (1) Rental properties and real estate under development $ 4,242,611 $ 4,733,762 Other assets 200,777 139,562 Total assets $ 4,443,388 $ 4,873,324 Debt $ 2,611,365 $ 2,442,213 Other liabilities 189,515 117,160 Equity 1,642,508 2,313,951 Total liabilities and equity $ 4,443,388 $ 4,873,324 Company's share of equity $ 1,018,010 $ 1,335,339 Years ended 2020 2019 2018 Combined statements of income: (1) Property revenues $ 300,624 $ 336,922 $ 332,164 Property operating expenses (108,682) (115,658) (107,584) Net operating income 191,942 221,264 224,580 Gain on sale of real estate — 112,918 24,218 Interest expense (78,962) (65,665) (63,913) General and administrative (17,079) (9,575) (6,379) Depreciation and amortization (117,836) (121,006) (126,485) Net income $ (21,935) $ 137,936 $ 52,021 Company's share of net income (2) $ 66,512 $ 112,136 $ 89,132 (1) Includes preferred equity investments held by the Company. (2) Includes the Company's share of equity income from joint ventures and preferred equity investments, gain on sales of co-investments, co-investment promote income and income from early redemption of preferred equity investments. Includes related party income of $8.6 million, $7.5 million, and $2.0 million for the years ended December 31, 2020, 2019, and 2018, respectively. Operating Co-investments As of December 31, 2020 and 2019, the Company, through several joint ventures, owned 8,652 and 10,672 apartment homes, respectively, in operating communities. The Company’s book value of these co-investments was $358.3 million and $743.5 million at December 31, 2020 and 2019, respectively. Predevelopment and Development Co-investments As of December 31, 2020 and 2019, the Company, through several joint ventures, owned 1,070 and 806 apartment homes in predevelopment and development communities, respectively. The Company’s book value of these co-investments was $157.4 million and $146.9 million at December 31, 2020 and 2019, respectively. In 2020, the Company entered into a joint venture to develop Scripps Mesa Apartments, a multifamily community comprised of 264 apartment homes located in San Diego, CA. The Company has a 51% ownership interest in the development which has a projected total cost of $102.0 million. Construction began in the third quarter of 2020 and the community is expected to open in the fourth quarter of 2022. The Company has a $5.9 million preferred equity investment in the project, which accrues an annualized preferred return of 10.0% until it is redeemed. In 2017, the Company entered into a joint venture to develop Patina at Midtown (formerly known as Ohlone), a multifamily community comprised of 269 apartment homes located in San Jose, CA. The Company has a 50% ownership interest in the development which has a projected total cost of $148.0 million. The property began initial occupancy in the third quarter of 2020 and is expected to be fully stabilized by the second quarter of 2021. The Company has a $28.9 million preferred equity investment in the project, which accrues an initial annualized preferred return of 10.0% and matures in 2021. In 2015, the Company entered into a joint venture to develop 500 Folsom, a multifamily community comprised of 537 apartment homes located in San Francisco, CA. The Company has a 50% ownership interest in the development which has a projected total cost of $415.0 million. The property began initial occupancy in the third quarter of 2019 and is expected to be fully stabilized by the first quarter of 2021. Preferred Equity Investments As of December 31, 2020 and 2019, the Company held preferred equity investment interests in several joint ventures which own real estate. The Company’s book value of these preferred equity investments was $502.3 million and $444.9 million at December 31, 2020 and 2019, respectively, and is included in the co-investments line in the accompanying consolidated balance sheets. During 2020, the Company made commitments to fund $191.3 million of preferred equity investment in seven preferred equity investments. The investments have initial preferred returns ranging from 9.0%-11.5%, with maturities ranging from March 2022 to February 2030. As of December 31, 2020, the Company had funded $55.1 million of the $191.3 million of commitments. The remaining committed amount is expected to be funded in 2021. During 2019, the Company made commitments to fund $141.7 million of preferred equity investment in five preferred equity investments, some of which include related party sponsors. See Note 6, Related Party Transactions, for additional details. The investments have initial preferred returns ranging from 10.15%-11.3%, with maturities ranging from July 2022 to October 2024. As of December 31, 2020, the Company had fully funded $141.7 million of the commitments. During 2018, the Company made commitments to fund $45.1 million of preferred equity investment in two preferred equity investments, some of which include related party sponsors. See Note 6, Related Party Transactions, for additional details. The investments have initial preferred returns ranging from 10.25%-12.0%, with maturities ranging from May 2023 to April 2024. As of December 31, 2020, the Company had funded $42.1 million of the $45.1 million of commitments. The remaining committed amount is expected to be funded when requested by the sponsors. In March 2020, the Company received cash of $11.3 million, including an early redemption fee of $0.2 million, for the partial redemption of a preferred equity investment in a joint venture that holds property located in Southern California. In the fourth quarter of 2020, the Company subsequently received cash of $10.7 million for redemption of the remainder of this preferred equity investment. In February and September 2020, the Company received cash of $13.4 million for the full redemption of a preferred equity investment in a property located in Southern California. In December 2020, the Company received cash of $31.3 million for the full redemption of a preferred equity investment in two properties located in Southern California. (e) Real Estate under Development The Company defines development projects as new communities that are being constructed, or are newly constructed and are in a phase of lease-up and have not yet reached stabilized operations. As of December 31, 2020, the Company's development pipeline was comprised of three consolidated projects under development, three unconsolidated joint venture projects under development and various predevelopment projects, aggregating 1,853 apartment homes, with total incurred costs of $948.0 million.

Revenues

Revenues	12 Months Ended
Revenues	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Disaggregated Revenue The following table presents the Company’s revenues disaggregated by revenue source ($ in thousands): 2020 2019 2018 Rental income (1) $ 1,462,161 $ 1,425,585 $ 1,366,590 Other property (1) 23,989 25,043 24,280 Management and other fees from affiliates 9,598 9,527 9,183 Total revenues $ 1,495,748 $ 1,460,155 $ 1,400,053 (1) On January 1, 2019, the Company adopted ASU No. 2016-02 and ASU No. 2018-11. As a result of this adoption, certain amounts previously classified as other property revenue have been reclassified to rental income. Prior period amounts have been adjusted to conform to the current period's presentation. The following table presents the Company’s rental and other property revenues disaggregated by geographic operating segment ($ in thousands): 2020 2019 2018 Southern California $ 570,673 $ 597,330 $ 579,533 Northern California 610,867 557,139 520,117 Seattle Metro 243,900 243,060 234,138 Other real estate assets (1) 60,710 53,099 57,082 Total rental and other property revenues $ 1,486,150 $ 1,450,628 $ 1,390,870 (1) Other real estate assets consist of revenue 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 ($ in thousands): 2020 2019 2018 Same-property (1) $ 1,286,686 $ 1,338,690 $ 1,288,771 Acquisitions (2) 78,666 7,704 — Development (3) 20,050 7,675 2,741 Redevelopment 19,054 21,058 20,413 Non-residential/other, net (4) 59,838 75,501 78,945 Straight line rent concession (5) 21,856 — — Total rental and other property revenues $ 1,486,150 $ 1,450,628 $ 1,390,870 (1) Properties that have comparable stabilized results as of January 1, 2019 and are consolidated by the Company for the years ended December 31, 2020, 2019, and 2018. A community is generally considered to have reach 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, 2019. (3) Development includes properties developed which did not have stabilized results as of January 1, 2019. (4) Non-residential/other, net consists of revenue 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 three communities located in the California counties of Riverside, Santa Barbara, and Santa Cruz, which the Company does not consider its core markets. (5) 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. Deferred Revenues and Remaining Performance Obligations When cash payments are received or due in advance of the Company’s performance of contracts with customers, deferred revenue is recorded. The total deferred revenue balance related to such contracts was $3.1 million and $3.9 million as of December 31, 2020 and December 31, 2019, respectively, and was included in accounts payable and accrued liabilities within the accompanying consolidated balance sheets. The amount of revenue recognized for the year ended December 31, 2020 that was included in the December 31, 2019 deferred revenue balance was $0.8 million, which was included in interest and other income within the consolidated statements of income and comprehensive income. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in the new revenue recognition accounting standard. As of December 31, 2020, the Company had $3.1 million of remaining performance obligations. The Company expects to recognize approximately 23% of these remaining performance obligations in 2021, an additional 45% through 2023, and the remaining balance thereafter. Practical Expedients The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less or when variable consideration is allocated entirely to a wholly unsatisfied performance obligation.

Notes and Other Receivables

Notes and Other Receivables	12 Months Ended
Notes and Other Receivables	Dec. 31, 2020
Notes and Other Receivables [Abstract]
Notes and Other Receivables	Notes and Other Receivables Notes and other receivables consist of the following as of December 31, 2020 and 2019 ($ in thousands): 2020 2019 Note receivable, secured, bearing interest at 9.00% due May 2021 (Originated May 2017) (1) $ — $ 16,828 Note receivable, secured, bearing interest at 9.90%, due November 2021 (Originated November 2018) 14,216 12,838 Related party note receivable, secured, bearing variable rate interest, due February 2020 (Originated November 2019) (2)(3) — 85,713 Notes receivable, secured, bearing interest at 10.50%, due February 2023 (Originated March 2020) 15,299 — Note receivable, secured, bearing interest at 11.00%, due October 2023 (Originated April 2020) 25,461 — Note receivable, secured, bearing interest at 9.00%, due December 2023 (Originated November 2020) 79,827 — Note receivable, secured, bearing interest at 11.50%, due November 2024 (Originated November 2020) 15,423 — Notes and other receivables from affiliates (4) 4,744 4,442 Straight line rent receivables (5) 25,214 6,083 Other receivables 15,671 8,461 Allowance for credit losses (751) — Total notes and other receivables $ 195,104 $ 134,365 (1) In January 2020, the Company received cash of $16.9 million from the payoff of this note receivable. (2) See Note 6, Related Party Transactions, for additional details. (3) In January 2020, the Company received cash of $85.8 million from the payoff of this note receivable. (4) These amounts consist of short-term loans outstanding and due from various joint ventures as of December 31, 2020 and 2019, respectively. See Note 6, Related Party Transactions, for additional details. (5) These amounts are receivables from lease concessions recorded on a straight-line basis for the Company's operating properties. The following table presents the activity in the allowance for credit losses for notes and other receivables by loan type ($ in thousands): Mezzanine Loans Bridge Loans Total Balance at December 31, 2019 $ — $ — $ — Impact of adoption ASC 326 147 43 190 Provision for credit losses 604 (43) 561 Balance at December 31, 2020 $ 751 $ — $ 751 No loans were placed on nonaccrual status or charged off during the year ended December 31, 2020 or 2019.

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has adopted written related party transaction guidelines that are intended to cover transactions in which the Company (including entities it controls) is a party and in which any "related person" has a direct or indirect interest. A "related person" means any person who is or was (since the beginning of the last fiscal year) a Company director, director nominee, or executive officer, any beneficial owner of more than 5% of the Company’s outstanding common stock, and any immediate family member of any of the foregoing persons. A related person may be considered to have an indirect interest in a transaction if he or she (i) is an owner, director, officer or employee of or otherwise associated with another company that is engaging in a transaction with the Company, or (ii) otherwise, through one or more entities or arrangements, has an indirect financial interest in or personal benefit from the transaction. The related person transaction review and approval process is intended to determine, among any other relevant issues, the dollar amount involved in the transaction; the nature and value of any related person’s direct or indirect interest (if any) in the transaction; and whether or not (i) a related person’s interest is material, (ii) the transaction is fair, reasonable, and serves the best interest of the Company and its shareholders, and (iii) whether the transaction or relationship should be entered into, continued or ended. The Company’s Chairman and founder, Mr. George Marcus, is the Chairman of the Marcus & Millichap Company ("MMC"), which is a parent company of a diversified group of real estate service, investment, and development firms. Mr. Marcus is also the Co-Chairman of Marcus & Millichap, Inc. ("MMI"), and Mr. Marcus owns a controlling interest in MMI, a national brokerage firm listed on the NYSE that underwent its initial public offering in 2013. For the year ended December 31, 2020, the Company paid brokerage commissions of $0.2 million to MMC and its affiliates related to real estate transactions. For the years ended December 31, 2019 and 2018, there were no brokerage commissions paid by the Company to MMI or its affiliates. The Company charges certain fees relating to its co-investments for asset management, property management, development and redevelopment services. These fees from affiliates totaled $11.3 million, $13.8 million, and $13.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. All of these fees are net of intercompany amounts eliminated by the Company. The Company netted development and redevelopment fees of $1.7 million, $4.3 million, and $4.8 million against general and administrative expenses for the years ended December 31, 2020, 2019 and 2018, respectively. As described in Note 5, Notes and Other Receivables, the Company has provided short-term loans to affiliates. As of December 31, 2020 and 2019, $4.7 million and $4.4 million, respectively, of short-term loans remained outstanding due from joint venture affiliates and are classified within notes and other receivables in the accompanying consolidated balance sheets. In November 2016, the Company provided a $6.6 million mezzanine loan to a limited liability company in which MMC holds a significant ownership interest through subsidiaries. The mezzanine loan was classified within notes and other receivables in the accompanying consolidated balance sheets and was paid off in October 2019. In November 2019, the Company provided an $85.5 million related party bridge loan to Wesco V as part of the acquisition of Velo and Ray. The note receivable accrued interest at LIBOR plus 1.30% and was scheduled to mature in February 2020, but was paid off in January 2020. The bridge loan was classified within notes and other receivables in the accompanying consolidated balance sheets. In August 2019, the Company provided an $89.0 million related party bridge loan to Wesco V in connection with the acquisition of The Courtyards at 65th Street. The note receivable accrued interest at LIBOR plus 1.30% and was paid off in November 2019. In August 2019, the Company provided a $44.4 million related party bridge loan to BEX IV in connection with the acquisition of 777 Hamilton. The note receivable accrued interest at 3.25%. In November 2019, the term of the bridge loan was extended to February 2020, but was paid off in December 2019. In June 2019, the Company acquired Brio, a 300 unit apartment home community located in Walnut Creek, CA. The Company issued DownREIT units to an affiliate of MMC, based on a contract price of $164.9 million. The property was encumbered by $98.7 million of mortgage debt which was assumed by the Company at the time of acquisition. As a result of this transaction, the Company consolidated the property, based on a VIE analysis performed by the Company. In February 2019, the Company funded a $24.5 million preferred equity investment in an entity whose sponsor is an affiliate of MMC, which owns a multifamily development community located in Mountain View, CA. The investment has an initial preferred return of 11.0% and is scheduled to mature in February 2024. In October 2018, the Company funded a $18.6 million preferred equity investment in an entity whose sponsor is an affiliate of MMC. The entity wholly owns a 268 apartment home community development located in Burlingame, CA. This investment accrues interest based on an initial 12.0% preferred return. The investment is scheduled to mature in April 2024. In May 2018, the Company made a commitment to fund a $26.5 million preferred equity investment in an entity whose sponsors include an affiliate of MMC. The entity wholly owns a 400 apartment home community located in Ventura, CA. This investment accrues interest based on a 10.25% preferred return. The investment is scheduled to mature in May 2023. As of December 31, 2020, the Company had funded $23.4 million of the commitment. The remaining committed amount is expected to be funded if and when requested by the sponsors. In March 2017, the Company converted its existing $15.3 million preferred equity investment in Sage at Cupertino, a 230 apartment home community located in San Jose, CA, into a 40.5% common equity ownership interest in the property. The Company issued DownREIT units to the other members, including an MMC affiliate, based on an estimated property valuation of $90.0 million. At the time of the conversion, the property was encumbered by $52.0 million of mortgage debt. As a result of this transaction, the Company consolidates the property, based on a consolidation analysis performed by the Company. In 2015, the Company made preferred equity investments totaling $20.0 million in three entities affiliated with MMC that own apartment communities in California. The Company earned a 9.5% preferred return on each such investment. One $5.0 million investment, which was scheduled to mature in 2022, was fully redeemed in 2017. Another $5.0 million investment, which was scheduled to mature in 2022, was fully redeemed in 2018. The remaining investment was fully redeemed in February 2019.

Unsecured Debt

Unsecured Debt	12 Months Ended
Unsecured Debt	Dec. 31, 2020
Debt Disclosure [Abstract]
Unsecured Debt	Unsecured Debt Essex does not have any indebtedness as all debt is incurred by the Operating Partnership. Essex guarantees the Operating Partnership’s unsecured debt including the revolving credit facilities up to the maximum amounts and for the full term of the facilities. Unsecured debt consists of the following as of December 31, 2020 and 2019 ($ in thousands): 2020 2019 Weighted Average Unsecured bonds private placement - fixed rate $ 199,950 $ 199,820 0.5 Term loan - variable rate 549,380 349,189 1.5 Bonds public offering - fixed rate 4,858,655 4,214,197 9.4 Unsecured debt, net (1) 5,607,985 4,763,206 Lines of credit (2) — 55,000 Total unsecured debt $ 5,607,985 $ 4,818,206 Weighted average interest rate on fixed rate unsecured bonds private placement and bonds public offering 3.4 % 3.8 % Weighted average interest rate on variable rate term loan 1.7 % 2.7 % Weighted average interest rate on lines of credit 1.0 % 2.5 % (1) Includes unamortized discount, net of premiums, of $10.1 million and $12.2 million and unamortized debt issuance costs of $31.9 million and $24.5 million as of December 31, 2020 and 2019, respectively. (2) Lines of credit, related to the Company's two lines of unsecured credit aggregating $1.24 billion, excludes unamortized debt issuance costs of $3.7 million and $3.8 million as of December 31, 2020 and 2019, respectively. These debt issuance costs are included in prepaid expenses and other assets on the consolidated balance sheets. As of both December 31, 2020 and 2019, the Company had $200.0 million of private placement unsecured bonds outstanding at an average effective interest rate of 4.4%. The following is a summary of the Company’s unsecured private placement bonds as of December 31, 2020 and 2019 ($ in thousands): Maturity 2020 2019 Coupon Senior unsecured private placement notes April 2021 100,000 100,000 4.27 % Senior unsecured private placement notes June 2021 50,000 50,000 4.30 % Senior unsecured private placement notes August 2021 50,000 50,000 4.37 % $ 200,000 $ 200,000 As of December 31, 2020 and 2019, the Company had unsecured term loans outstanding of $550.0 million and $350.0 million, respectively, at an average interest rate of 1.7% and 2.7%, respectively. These loans are included in the line "Term loan - variable rate" in the table above, and as of December 31, 2020 and 2019, the carrying value, net of debt issuance costs, was $549.4 million and $349.2 million, respectively. $350.0 million of the term loan matures in February 2022 and $200.0 million of the term loan matures in April 2021 with two 12-month extension options, exercisable at the Company’s option. The Company had entered into five interest rate swap contracts, for a term of five years with a notional amount totaling $175.0 million, which will effectively convert the interest rate on $175.0 million of the term loan to a fixed rate of 2.3%. These interest rate swaps are accounted for as cash flow hedges. In February 2020, the Operating Partnership issued $500.0 million of senior unsecured notes due on March 15, 2032, with a coupon rate of 2.650% (the "2032 Notes"), which are payable on March 15 and September 15 of each year, beginning on September 15, 2020. The 2032 Notes were offered to investors at a price of 99.628% of par value. The 2032 Notes are general unsecured senior obligations of the Operating Partnership, rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership and are unconditionally guaranteed by Essex. The Company used the net proceeds of this offering to repay indebtedness under its unsecured lines of credit, which had been used to fund the buyout of CPPIB's 45.0% joint venture interests, as well as repay $100.3 million of secured debt during the quarter that ended March 31, 2020. In June 2020, the Operating Partnership issued an additional $150.0 million of the 2032 Notes at a price of 105.660% of par value, plus accrued interest from February 2020 up to, but not including, the date of delivery of the additional notes, with an effective yield of 2.093%. These additional notes have substantially identical terms as the 2032 Notes issued in February 2020. The proceeds were used to repay indebtedness under the Company's unsecured credit facilities and for other general corporate and working capital purposes. These bonds are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020, the carrying value of the 2032 Notes, net of premiums and debt issuance costs, was $650.7 million. In April 2020, the Company obtained a $200.0 million unsecured term loan with a one-year maturity and two 12-month extension options, exercisable at the Company’s option. The unsecured term loan bears a variable interest rate of LIBOR plus 1.20% and the proceeds were used to repay all remaining consolidated debt maturing in 2020. In August 2020, the Operating Partnership issued $600.0 million of senior unsecured notes, consisting of $300.0 million aggregate principal amount due on January 15, 2031 with a coupon rate of 1.650% (the “2031 Notes”) and $300.0 million aggregate principal amount due on September 1, 2050 with a coupon rate of 2.650% (the “2050 Notes” and together with the 2031 Notes, the “Notes”). The 2031 Notes were offered to investors at a price of 99.035% of par value and the 2050 Notes at 99.691% of par value. Interest is payable on the 2031 Notes semiannually on January 15 and July 15 of each year, beginning on January 15, 2021. Interest is payable on the 2050 Notes semiannually on March 1 and September 1 of each year, beginning on March 1, 2021. The Notes are general unsecured senior obligations of the Operating Partnership, rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership and are unconditionally guaranteed by Essex. The Company used the net proceeds of this offering to repay debt maturities, including certain unsecured private placement notes, secured mortgage notes, and to fund the redemption of $300.0 million aggregate principal amount of its outstanding 3.625% senior unsecured notes due August 2022, and for other general corporate and working capital purposes. These bonds are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020, the carrying value of the 2031 Notes and 2050 Notes, net of discount and debt issuance costs was $294.5 million and $295.7 million, respectively. In August 2019, the Operating Partnership issued $400.0 million of senior unsecured notes due on January 15, 2030, with a coupon rate of 3.000% per annum (the "2030 Notes"), which are payable on January 15 and July 15 of each year, beginning on January 15, 2020. The 2030 Notes were offered to investors at a price of 98.632% of the principal amount thereof. The 2030 Notes are general unsecured senior obligations of the Operating Partnership, rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership and are unconditionally guaranteed by Essex Property Trust, Inc. In October 2019, the Operating Partnership issued an additional $150.0 million of the 2030 notes at a price of 101.685% of the principal amount thereof. These additional notes have substantially identical terms as the 2030 Notes issued in August 2019. The Company used the net proceeds of these offerings to prepay, with no prepayment penalties, certain secured indebtedness under outstanding mortgage notes, to repay indebtedness under its unsecured lines of credit and for other general corporate and working capital purposes. These bonds are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020, and 2019, the carrying value of the 2030 Notes, net of discount and debt issuance costs, was $543.1 million and $542.3 million, respectively. In February 2019, the Operating Partnership issued $350.0 million of senior unsecured notes due on March 1, 2029, with a coupon rate of 4.000% per annum (the "2029 Notes"), which are payable on March 1 and September 1 of each year, beginning on September 1, 2019. The 2029 Notes were offered to investors at a price of 99.188% of the principal amount thereof. The 2029 Notes are general unsecured senior obligations of the Operating Partnership, rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership and are unconditionally guaranteed by Essex Property Trust, Inc. In March 2019, the Operating Partnership issued an additional $150.0 million of the 2029 Notes at a price of 100.717% of the principal amount thereof. These additional notes have substantially identical terms as the 2029 Notes issued in February 2019. The Company used the net proceeds of these offerings to repay indebtedness under its unsecured lines of credit and for other general corporate and working capital purposes. These bonds are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020, and 2019, the carrying value of the 2029 Notes, net of discount and debt issuance costs was $494.8 million and $494.1 million, respectively. In March 2018, the Operating Partnership issued $300.0 million of senior unsecured notes due on March 15, 2048 with a coupon rate of 4.500% per annum and are payable on March 15 and September 15 of each year, beginning on September 15, 2018 (the "2048 Notes"). The 2048 Notes were offered to investors at a price of 99.591% of par value. The 2048 Notes are general unsecured senior obligations of the Operating Partnership, rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership and are fully and unconditionally guaranteed by Essex Property Trust, Inc. These bonds are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020 and 2019, the carrying value of the 2048 Notes, net of discount and debt issuance costs was $295.8 million and $295.6 million, respectively. In April 2017, the Operating Partnership issued $350.0 million of senior unsecured notes due on May 1, 2027 with a coupon rate of 3.625% per annum and are payable on May 1 and November 1 of each year, beginning on November 1, 2017 (the "2027 Notes"). The 2027 Notes were offered to investors at a price of 99.423% of par value. The 2027 Notes are general unsecured senior obligations of the Operating Partnership, rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership and are fully and unconditionally guaranteed by Essex Property Trust, Inc. These bonds are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020 and 2019, the carrying value of the 2027 Notes, net of discount and debt issuance costs was $346.8 million and $346.3 million, respectively. In April 2016, the Operating Partnership issued $450.0 million of senior unsecured notes due on April 15, 2026 with a coupon rate of 3.375% per annum and are payable on April 15 th and October 15 th of each year, beginning October 15, 2016 (the "2026 Notes"). The 2026 Notes were offered to investors at a price of 99.386% of par value. The 2026 Notes are general unsecured senior obligations of the Operating Partnership, rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership and are fully and unconditionally guaranteed by Essex Property Trust, Inc. These bonds are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020 and 2019, the carrying value of the 2026 Notes, net of discount and debt issuance costs was $446.4 million and $445.7 million, respectively. In March 2015, the Operating Partnership issued $500.0 million of senior unsecured notes due on April 1, 2025 with a coupon rate of 3.5% per annum and are payable on April 1 st and October 1 st of each year, beginning October 1, 2015 (the "2025 Notes"). The 2025 Notes were offered to investors at a price of 99.747% of par value. The 2025 Notes are general unsecured senior obligations of the Operating Partnership, rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership and are fully and unconditionally guaranteed by Essex Property Trust, Inc. These bonds are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020 and 2019, the carrying value of the 2025 Notes, net of discount and debt issuance costs was $497.6 million and $497.1 million, respectively. In April 2014, the Company assumed $900.0 million aggregate principal amount of BRE Property Inc.’s 5.500% senior notes due 2017; 5.200% senior notes due 2021; and 3.375% senior notes due 2023 (together the "BRE Notes"). These notes are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020 and 2019, the carrying value of the BRE Notes, plus unamortized premium was $296.8 million and $599.4 million, respectively. In December 2020, the Company paid off $300.0 million of 5.200% senior notes. In March 2017, the Company paid off $300.0 million of 5.500% senior notes, at maturity. In April 2014, the Operating Partnership issued $400.0 million of senior unsecured notes due on May 1, 2024 with a coupon rate of 3.875% per annum and are payable on May 1 st and November 1 st of each year, beginning November 1, 2014 (the "2024 Notes"). The 2024 Notes were offered to investors at a price of 99.234% of par value. The 2024 Notes are general unsecured senior obligations of the Operating Partnership, rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership and are fully and unconditionally guaranteed by Essex Property Trust, Inc. These bonds are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020 and 2019, the carrying value of the 2024 Notes, net of discount and debt issuance costs was $397.8 million and $397.1 million, respectively. In April 2013, the Operating Partnership issued $300.0 million of senior unsecured notes due on May 1, 2023 with a coupon rate of 3.25% per annum and are payable on May 1 st and November 1 st of each year, beginning November 1, 2013 (the "2023 Notes"). The 2023 Notes were offered to investors at a price of 99.152% of par value. The 2023 Notes are general unsecured senior obligations of the Operating Partnership, rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership and are fully and unconditionally guaranteed by Essex Property Trust, Inc. These bonds are included in the line "Bonds public offering-fixed rate" in the table above, and as of December 31, 2020 and 2019, the carrying value of the 2023 Notes, net of discount and debt issuance costs was $298.7 million and $298.2 million, respectively. The following is a summary of the Company’s senior unsecured notes as of December 31, 2020 and 2019 ($ in thousands): Maturity 2020 2019 Coupon Senior notes March 2021 $ — $ 300,000 5.200 % Senior notes August 2022 — 300,000 3.625 % Senior notes January 2023 300,000 300,000 3.375 % Senior notes May 2023 300,000 300,000 3.250 % Senior notes May 2024 400,000 400,000 3.875 % Senior notes April 2025 500,000 500,000 3.500 % Senior notes April 2026 450,000 450,000 3.375 % Senior notes May 2027 350,000 350,000 3.625 % Senior notes March 2029 500,000 500,000 4.000 % Senior notes January 2030 550,000 550,000 3.000 % Senior notes January 2031 300,000 — 1.650 % Senior notes March 2032 650,000 — 2.650 % Senior notes March 2048 300,000 300,000 4.500 % Senior notes September 2050 300,000 — 2.650 % $ 4,900,000 $ 4,250,000 The aggregate scheduled principal payments of unsecured debt payable, excluding lines of credit, at December 31, 2020 are as follows ($ in thousands): 2021 $ — 2022 — 2023 600,000 2024 400,000 2025 500,000 Thereafter 3,400,000 $ 4,900,000 As of December 31, 2020, the Company had two unsecured lines of credit aggregating $1.24 billion, including a $1.2 billion unsecured line of credit and a $35.0 million working capital unsecured line of credit. As of December 31, 2020, there was no amount outstanding on the $1.2 billion unsecured line of credit. As of December 31, 2019, there was $55.0 million outstanding on this line. The interest rate is based on a tiered rate structure tied to the Company's credit ratings and was LIBOR plus 0.825% as of December 31, 2020. The $1.2 billion unsecured line of credit has a scheduled maturity date in December 2023 with one 18-month extension, exercisable at the Company's option. As of both December 31, 2020 and 2019, there was no amount outstanding on the Company's $35.0 million working capital unsecured line of credit. The interest rate on the amended line is based on a tiered rate structure tied to the Company's credit ratings and is currently at LIBOR plus 0.825%. The Company’s unsecured lines of credit and unsecured debt agreements contain debt covenants related to limitations on indebtedness and liabilities, and maintenance of minimum levels of consolidated earnings before depreciation, interest and amortization. The Company was in compliance with the debt covenants as of December 31, 2020 and 2019.

Mortgage Notes Payable

Mortgage Notes Payable	12 Months Ended
Mortgage Notes Payable	Dec. 31, 2020
Notes Payable [Abstract]
Mortgage Notes Payable	Mortgage Notes Payable Essex does not have any indebtedness as all debt is incurred by the Operating Partnership. Mortgage notes payable consist of the following as of December 31, 2020 and 2019 ($ in thousands): 2020 2019 Fixed rate mortgage notes payable $ 419,323 $ 736,490 Variable rate mortgage notes payable (1) 224,227 254,177 Total mortgage notes payable (2) $ 643,550 $ 990,667 Number of properties securing mortgage notes 12 24 Remaining terms 1-26 years 1-27 years Weighted average interest rate 2.7 % 4.1 % The aggregate scheduled principal payments of mortgage notes payable at December 31, 2020 are as follows ($ in thousands): 2021 $ 3,501 2022 43,188 2023 2,945 2024 3,109 2025 133,054 Thereafter 455,629 $ 641,426 (1) Variable rate mortgage notes payable, including $225.1 million in bonds that have been converted to variable rate through total return swap contracts, consists of multifamily housing mortgage revenue bonds secured by deeds of trust on rental properties and guaranteed by collateral pledge agreements, payable monthly at a variable rate as defined in the Loan Agreement (approximately 1.2% at December 2020 and 2.3% at December 2019) including credit enhancement and underwriting fees. Among the terms imposed on the properties, which are security for the bonds, is a requirement that 20% of the apartment homes are subject to tenant income criteria. Once the bonds have been repaid, the properties may no longer be obligated to comply with such tenant income criteria. Principal balances are due in full at various maturity dates from December 2027 through December 2046. The Company had no interest rate cap agreements as of December 31, 2020 and 2019, respectively. (2) Includes total unamortized premium, net of discounts, of $3.9 million and $5.9 million and reduced by unamortized debt issuance costs of $1.8 million and $2.6 million as of December 31, 2020 and 2019, respectively.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
Derivative Instruments and Hedging Activities	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company uses interest rate swaps, interest rate caps, and total return swap contracts to manage certain interest rate risks. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves. The fair values of interest rate swaps and total return swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In November 2016, the Company replaced its $225.0 million term loan with a $350.0 million five As of December 31, 2020 and 2019, the Company had no interest rate caps. As of December 31, 2020 and 2019, the aggregate carrying value of the interest rate swap contracts were a liability of $2.4 million and an asset of $0.8 million, respectively. As of December 31, 2020 and 2019, the swap contracts were presented in the consolidated balance sheets as an asset of zero and $1.0 million, respectively, and were in prepaid expenses and other assets on the consolidated balance sheets, and a liability of $2.4 million and $0.2 million, respectively, and were included in other liabilities on the consolidated balance sheets. The Company had no interest rate caps on the balance sheets as of December 31, 2020 and 2019. Hedge ineffectiveness related to cash flow hedges, which is included in interest expense on the consolidated statements of income, was zero, a loss of $0.2 million, and a loss of $0.1 million for the years ended December 31, 2020, 2019, and 2018 respectively. The Company has four total return swap contracts, with an aggregate notional amount of $254.8 million, that effectively convert $225.1 million of mortgage notes payable and $29.7 million of mortgage notes payable related to real estate held for sale that is included in liabilities associated with real estate held for sale on the consolidated balance sheet to a floating interest rate based on the Securities Industry and Financial Markets Association Municipal Swap Index ("SIFMA") plus a spread. The total return swaps provide fair market value protection on the mortgage notes payable to our counterparties during the initial period of the total return swap until the Company's option to call the mortgage notes at par can be exercised. The Company can currently call all four of the total return swaps with $254.8 million of the outstanding debt at par. These derivatives do not qualify for hedge accounting and had a carrying and fair value of zero at both December 31, 2020 and 2019, respectively. These total return swaps are scheduled to mature between November 2022 and December 2024. The realized gains of $10.7 million,

Lease Agreements - Company as L

Lease Agreements - Company as Lessor	12 Months Ended
Lease Agreements - Company as Lessor	Dec. 31, 2020
Leases [Abstract]
Lease Agreements - Company as Lessor	Lease Agreements - Company as Lessor As of December 31, 2020, the Company is a lessor of apartment homes at all of its consolidated operating and lease-up communities, one commercial building, and commercial portions of mixed use communities. The apartment homes are rented under short-term leases (generally, lease terms of 9 to 12 months) while commercial lease terms typically range from 5 to 20 years. All such leases are classified as operating leases. Although the majority of the Company’s apartment home and commercial leasing income is derived from fixed lease payments, some lease agreements also allow for variable payments. The primary driver of variable leasing income comes from utility reimbursements from apartment home leases and common area maintenance reimbursements from commercial leases. A small number of commercial leases contain provisions for lease payments based on a percentage of gross retail sales over set hurdles. At the end of the term of apartment home leases, unless the lessee decides to renew the lease with the Company at the market rate or gives notice not to renew, the lease will be automatically renewed on a month-to-month term. Apartment home leases include an option to terminate the lease, however the lessee must pay the Company for expected or actual downtime to find a new tenant to lease the space or a lease-break fee specified in the lease agreement. Most commercial leases include options to renew, with the renewal periods extending the term of the lease for no greater than the same period of time as the original lease term. The initial option to renew for commercial leases will typically be based on a fixed price while any subsequent renewal options will generally be based on the current market rate at the time of the renewal. Certain commercial leases contain lease termination options that would require the lessee to pay termination fees based on the expected amount of time it would take the Company to re-lease the space. The Company’s apartment home and commercial lease agreements do not contain residual value guarantees. As the Company is the lessor of real estate assets which tend to either hold their value or appreciate, residual value risk is not deemed to be substantial. Furthermore, the Company carries comprehensive liability, fire, extended coverage, and rental loss insurance for each of its communities as well as limited insurance coverage for certain types of extraordinary losses, such as, for example, losses from terrorism or earthquakes. A maturity analysis of undiscounted future minimum non-cancelable base rent to be received under the above operating leases as of December 31, 2020 is summarized as follows ($ in thousands): Future Minimum Rent 2021 $ 720,570 2022 34,240 2023 14,971 2024 13,619 2025 11,265 Thereafter 24,855 $ 819,520 Practical Expedients The Company has elected to account for operating lease (e.g., fixed payments including rent) and non-lease components (e.g., utility reimbursements and common-area maintenance costs) as a single combined lease component under ASC 842 "Leases" as the lease components are the predominant elements of the combined components. As part of the transition to ASC Topic 842, the Company has elected to use the modified retrospective transition method with the new standard being applied as of the January 1, 2019 adoption date. Additionally, the Company has elected, as of the

Lease Agreements - Company as_2

Lease Agreements - Company as Lessee	12 Months Ended
Lease Agreements - Company as Lessee	Dec. 31, 2020
Leases [Abstract]
Lease Agreements - Company as Lessee	Lease Agreements - Company as Lessee As of December 31, 2020, the Company is a lessee of corporate office space, ground leases and a parking lease associated with various consolidated properties, and equipment. Lease terms for the Company's office leases, in general, range between 5 to 10 years while ground leases and the parking lease have terms typically ranging from 20 to 85 years. The corporate office leases occasionally contain renewal options of approximately five years while certain ground leases contain renewal options that can extend the lease term from approximately 10 to 39 years. A majority of the Company’s ground leases and the parking lease are subject to changes in the Consumer Price Index ("CPI"). Furthermore, certain of the Company’s ground leases include rental payments based on a percentage of gross or net income. While lease liabilities are not remeasured as a result of changes in the CPI or percentage of gross or net income, such changes are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. The Company’s lease agreements do not contain any residual value guarantees or restrictive covenants. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. As of December 31, 2020 and 2019, the Company had no material finance leases. Supplemental consolidated balance sheet information related to leases as of December 31, 2020 and 2019 is as follows ($ in thousands): Classification December 31, 2020 December 31, 2019 Assets Operating lease right-of-use assets Operating lease right-of-use assets $ 72,143 $ 74,744 Total leased assets $ 72,143 $ 74,744 Liabilities Operating lease liabilities Operating lease liabilities 74,037 76,740 Total lease liabilities $ 74,037 $ 76,740 The components of lease expense for the years ended December 31, 2020 and 2019 were as follows ($ in thousands): December 31, 2020 December 31, 2019 Operating lease cost $ 6,749 $ 6,745 Variable lease cost 1,436 783 Short-term lease cost 432 610 Sublease income (438) (436) Total lease cost $ 8,179 $ 7,702 A maturity analysis of lease liabilities as of December 31, 2020 is as follows ($ in thousands): Operating Leases 2021 $ 6,963 2022 6,987 2023 6,962 2024 6,690 2025 6,310 Thereafter 140,417 Total lease payments $ 174,329 Less: Imputed interest (100,292) Present value of lease liabilities $ 74,037 Lease term and discount rate information for leases at December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 Weighted-average of remaining lease terms (years) Operating Leases 39 39 Weighted-average of discount rates Operating Leases 5.00 % 4.99 % Practical Expedients As part of the transition to ASC Topic 842, the Company elected to use the modified retrospective transition method with the new standard being applied as of the January 1, 2019 adoption date. Additionally, the Company has elected, as of the adoption date, not to reassess whether expired or existing contracts contain leases under the new definition of a lease, not to reassess the lease classification for expired or existing leases, not to reassess whether previously capitalized initial direct costs would qualify for capitalization under ASC Topic 842, and not to reassess whether existing or expired land easements meet the definition of a lease. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes the lease expense for such leases on a straight-line basis over the lease term. The Company has elected to account for lease components (e.g., fixed payments including rent) and non-lease components (e.g., common-area maintenance costs) as a single combined lease component as the lease components are the predominant elements of the combined components.

Equity Transactions

Equity Transactions	12 Months Ended
Equity Transactions	Dec. 31, 2020
Equity [Abstract]
Equity Transactions	Equity Transactions Common Stock Offerings In September 2018, the Company entered into an equity distribution agreement pursuant to which the Company may offer and sell shares of its common stock having an aggregate gross sales price of up to $900.0 million (the "2018 ATM Program"). Upon entering into the 2018 ATM Program, the Company simultaneously terminated its existing equity distribution agreements, which were entered into in March 2016 in connection with its prior at-the-market equity offering program (the "2016 ATM Program"). In connection with the 2018 ATM Program, the Company may also enter into related forward sale agreements whereby, at the Company’s discretion, it may sell shares of its common stock under the 2018 ATM Program under forward sale agreements. The use of a forward sale agreement would allow the Company to lock in a share price on the sale of shares of its common stock at the time the agreement is executed, but defer receiving the proceeds from the sale of shares until a later date. The Company anticipates using the net proceeds, which are contributed to the Operating Partnership, to acquire, develop, or redevelop properties, which primarily will be apartment communities, to make other investments and for working capital or general corporate purposes, which may include the repayment of indebtedness. For the year ended December 31, 2020, the Company did not issue any shares of common stock through the 2018 ATM Program. For the year ended December 31, 2019, the Company issued 228,271 shares of common stock through the 2018 ATM Program at an average price of $321.56 per share for proceeds of $73.4 million. For the year ended December 31, 2018, the Company did not sell any shares of its common stock through the 2018 ATM Program or through the 2016 ATM Program. As of December 31, 2020, there were no outstanding forward sale agreements, and $826.6 million of shares remained available to be sold under this program. Operating Partnership Units and Long-Term Incentive Plan ("LTIP") Units As of December 31, 2020 and 2019, the Operating Partnership had outstanding 2,188,623 and 2,158,396 operating partnership units and 106,137 and 143,257 vested LTIP units, respectively. The Operating Partnership’s general partner, Essex, owned 96.6% of the partnership interests in the Operating Partnership as of both December 31, 2020 and 2019, and Essex is responsible for the management of the Operating Partnership’s business. As the general partner of the Operating Partnership, Essex effectively controls the ability to issue common stock of Essex upon a limited partner’s notice of redemption. Essex has generally acquired Operating Partnership limited partnership units ("OP Units") upon a limited partner’s notice of redemption in exchange for shares of its common stock. The redemption provisions of OP Units owned by limited partners that permit Essex to settle in either cash or common stock at the option of Essex were further evaluated in accordance with applicable accounting guidance to determine whether temporary or permanent equity classification on the balance sheet is appropriate. The Operating Partnership evaluated this guidance, including the requirement to settle in unregistered shares, and determined that, with few exceptions, these OP Units meet the requirements to qualify for presentation as permanent equity. LTIP units represent an interest in the Operating Partnership for services rendered or to be rendered by the LTIP unitholder in its capacity as a partner, or in anticipation of becoming a partner, in the Operating Partnership. Upon the occurrence of specified events, LTIP units may over time achieve full parity with common units of the Operating Partnership for all purposes. Upon achieving full parity, LTIP units will be exchanged for an equal number of the OP Units. The collective redemption value of OP Units and LTIP units owned by the limited partners, not including Essex, was approximately $544.8 million and $692.5 million based on the closing price of Essex's common stock as of December 31, 2020 and 2019, respectively.

Net Income Per Common Share and

Net Income Per Common Share and Net Income Per Common Unit	12 Months Ended
Net Income Per Common Share and Net Income Per Common Unit	Dec. 31, 2020
Net Income Per Common Share and Net Income Per Unit [Abstract]
Net Income Per Common Share and Net Income Per Common Unit	Net Income Per Common Share and Net Income Per Common Unit Essex Property Trust, Inc. Basic and diluted income per share is calculated as follows for the years ended December 31 ($ in thousands, except share and per share amounts): 2020 2019 2018 Income Weighted- Per Income Weighted- Per Income Weighted- Per Basic: Net income available to common stockholders $ 568,870 65,454,057 $ 8.69 $ 439,286 65,840,422 $ 6.67 $ 390,153 66,041,058 $ 5.91 Effect of Dilutive Securities Stock options — 16,678 — 99,033 — 44,031 DownREIT units 783 94,247 — — — — Diluted: Net income available to common stockholders $ 569,653 65,564,982 $ 8.69 $ 439,286 65,939,455 $ 6.66 $ 390,153 66,085,089 $ 5.90 The table above excludes from the calculations of diluted earnings per share weighted average convertible OP Units of 2,296,608, 2,300,478, and 2,274,941, which include vested Series Z-1 Incentive Units, 2014 Long-Term Incentive Plan Units, and 2015 Long-Term Incentive Plan Units, for the years ended December 31, 2020, 2019 and 2018, respectively, because they were anti-dilutive. The related income allocated to these convertible OP Units aggregated $20.0 million, $15.3 million, and $13.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. Additionally, the table excludes all DownREIT units for which the Operating Partnership has the ability and intention to redeem the units for cash and does not consider them to be common stock equivalents. Stock options of 403,458, 115,066, and 160,039, for the years ended December 31, 2020, 2019, and 2018, respectively, were excluded from the calculation of diluted earnings per share because the assumed proceeds per share of such options plus the average unearned compensation were greater than the average market price of the common stock for the years ended and, therefore, were anti-dilutive. Essex Portfolio, L.P. Basic and diluted income per unit is calculated as follows for the years ended December 31 ($ in thousands, except unit and per unit amounts): 2020 2019 2018 Income Weighted- Per Income Weighted- Per Income Weighted- Per Basic: Net income available to common unitholders $ 588,782 67,750,665 $ 8.69 $ 454,629 68,140,900 $ 6.67 $ 403,605 68,315,999 $ 5.91 Effect of Dilutive Securities Stock options — 16,678 — 99,033 — 44,031 DownREIT units 783 94,247 — — — — Diluted: Net income available to common unitholders $ 589,565 67,861,590 $ 8.69 $ 454,629 68,239,933 $ 6.66 $ 403,605 68,360,030 $ 5.90 Stock options of 403,458, 115,066, and 160,039, for the years ended December 31, 2020, 2019, and 2018, respectively, were excluded from the calculation of diluted earnings per unit because the assumed proceeds per unit of these options plus the average unearned compensation were greater than the average market price of the common unit for the years ended and, therefore, were anti-dilutive. Additionally, the table excludes all DownREIT units for which the Operating Partnership has the ability and intention to redeem the units for cash and does not consider them to be common stock equivalents.

Equity Based Compensation Plans

Equity Based Compensation Plans	12 Months Ended
Equity Based Compensation Plans	Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Equity Based Compensation Plans	Equity Based Compensation Plans Stock Options and Restricted Stock In May 2018, stockholders approved the Company’s 2018 Stock Award and Incentive Compensation Plan ("2018 Plan"). The 2018 Plan serves as the successor to the Company’s 2013 Stock Incentive Plan (the "2013 Plan"). The Company’s 2018 Plan provides incentives to attract and retain officers, directors and key employees. The 2018 Plan provides for the grant of stock-based awards to employees, directors and consultants of the Company and its affiliates. The aggregate number of shares of the Company’s common stock available for issuance pursuant to awards granted under the 2018 Plan is 2,000,000 shares, plus the number of shares authorized for grants and available for issuance under the 2013 Plan as of the effective date of the 2018 Plan and the number of shares subject to outstanding awards under the 2013 Plan that are forfeited or otherwise not issued under such awards. No further awards will be granted under the 2013 Plan and the shares that remained available for future issuance under the 2013 Plan as of the effective date of the 2018 Plan will be available for issuance under the 2018 Plan. In connection with the adoption of the 2018 Plan, the Board delegated to the Compensation Committee of the Board the authority to administer the 2018 Plan. Equity-based compensation costs for options and restricted stock under the fair value method totaled $12.9 million, $11.4 million, and $12.1 million for years ended December 31, 2020, 2019 and 2018, respectively. For each of the years ended December 31, 2020, 2019 and 2018 equity-based compensation costs included $3.5 million related to restricted stock for bonuses awarded based on asset dispositions, which is recorded as a cost of real estate and land sold, respectively. Stock-based compensation for options and restricted stock related to recipients who are direct and incremental to projects under development were capitalized and totaled $1.3 million, $1.6 million, and $2.0 million for the years ended December 31, 2020, 2019 and 2018, respectively. The intrinsic value of the options exercised totaled $7.4 million, $18.7 million, and $3.1 million, for the years ended December 31, 2020, 2019, and 2018 respectively. The intrinsic value of the options exercisable totaled $3.4 million and $23.5 million as of December 31, 2020 and 2019, respectively. Total unrecognized compensation cost related to unvested stock options totaled $4.4 million as of December 31, 2020 and the unrecognized compensation cost is expected to be recognized over a period of 2.2 years. The average fair value of stock options granted for the years ended December 31, 2020, 2019 and 2018 was $20.69, $24.02 and $26.13, respectively. Certain stock options granted in 2020, 2019, and 2018 included a $100 cap, $125 cap, or no cap on the appreciation of the market price over the exercise price. The fair value of stock options was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions used for grants: 2020 2019 2018 Stock price $ 244.74 $ 304.85 $ 262.09 Risk-free interest rates 0.83 % 2.01 % 2.76 % Expected lives 6 years 6 years 6 years Volatility 25.72 % 19.56 % 24.89 % Dividend yield 2.93 % 2.72 % 2.81 % A summary of the status of the Company’s stock option plans as of December 31, 2020, 2019, and 2018 and changes during the years ended on those dates is presented below: 2020 2019 2018 Shares Weighted- Shares Weighted- Shares Weighted- Outstanding at beginning of year 572,971 $ 251.10 612,954 $ 224.57 536,208 $ 211.41 Granted 149,020 244.74 148,147 304.85 119,361 262.09 Exercised (70,802) 208.57 (182,817) 205.25 (39,175) 159.05 Forfeited and canceled (38,080) 228.64 (5,313) 257.87 (3,440) 221.80 Outstanding at end of year 613,109 255.86 572,971 251.10 612,954 224.57 Options exercisable at year end 361,985 245.83 305,379 223.90 322,837 206.63 The following table summarizes information about restricted stock outstanding as of December 31, 2020, 2019 and 2018 and changes during the years ended: 2020 2019 2018 Shares Weighted- Shares Weighted- Shares Weighted- Unvested at beginning of year 114,877 $ 197.62 91,058 $ 180.99 90,823 $ 163.49 Granted 45,196 248.16 41,643 235.93 51,945 194.70 Vested (15,116) 170.61 (13,222) 143.56 (48,212) 150.76 Forfeited and canceled (12,354) 184.11 (4,602) 158.06 (3,498) 158.71 Unvested at end of year 132,603 214.34 114,877 197.62 91,058 180.99 The unrecognized compensation cost related to unvested restricted stock totaled $13.8 million as of December 31, 2020 and is expected to be recognized over a period of 2.3 years. Long-Term Incentive Plans – LTIP Units On December 9, 2014, the Operating Partnership issued 44,750 LTIP units under the 2015 Long-Term Incentive Plan Award agreements to executives of the Company. The 2015 Long-Term Incentive Plan Units (the "2015 LTIP Units") are subject to forfeiture based on performance-based and service based conditions. An additional 24,000 LTIP units were granted subject only to performance-based criteria and were fully vested on the date granted. The 2015 LTIP Units, that are subject to vesting, vested at 20% per year on each of the first five In December 2013, the Operating Partnership issued 50,500 LTIP units under the 2014 Long-Term Incentive Plan Award agreements to executives of the Company. The 2014 Long-Term Incentive Plan Units (the "2014 LTIP Units") were subject to forfeiture based on performance-based conditions and are currently subject to service based vesting. The 2014 LTIP Units vested 25% per year on each of the first four ten The estimated fair value of the 2015 LTIP Units and 2014 LTIP Units were determined on the grant date using Monte Carlo simulations under a risk-neutral premise and considered Essex’s stock price on the date of grant, the unpaid dividends on unvested units and the discount factor for 10 years of illiquidity. Prior to 2013, the Company issued Series Z Incentive Units and Series Z-1 Incentive Units (collectively referred to as "Z Units") of limited partnership interest in the Operating Partnership. Vesting in the Z Units is based on performance criteria established in the plan. The criteria can be revised by the Compensation Committee of the Board of Directors if the Committee deems that the plan's criterion is unachievable for any given year. The sale of Z Units is contractually prohibited. Z Units are convertible into Operating Partnership units which are exchangeable for shares of the Company’s common stock that have marketability restrictions. The estimated fair value of Z Units were determined on the grant date and considered the Company's stock price on the date of grant, the dividends that are not paid on unvested units and a marketability discount for the 8 to 15 years of illiquidity. Compensation expense is calculated by multiplying estimated vesting increases for the period by the estimated fair value as of the grant date. During 2011 and 2010, the Operating Partnership issued 154,500 Series Z-1 Incentive Units (the "Z-1 Units") of limited partner interest to executives of the Company. The Z-1 Units are convertible one-for-one into common units of the Operating Partnership (which, in turn, are convertible into common stock of the Company) upon the earlier to occur of 100 percent vesting of the units or the year 2026. The conversion ratchet (accounted for as vesting) of the Z-1 Units into common units, is to increase consistent with the Company’s annual FFO growth, but is not to be less than zero or greater than 14 percent. Z-1 Unitholders are entitled to receive distributions, on vested units, that are now equal to dividends distributed to common stockholders. Equity-based compensation costs for LTIP and Z Units under the fair value method totaled approximately zero, $0.9 million and $0.8 million for the years ended December 31, 2020, 2019 and 2018, respectively. Equity-based compensation costs related to LTIP Units attributable to recipients who are direct and incremental to these projects was capitalized to real estate under development and totaled approximately zero, $0.2 million, and $0.2 million, for the years ended December 31, 2020, 2019, and 2018, respectively. The intrinsic value of the vested and unvested LTIP Units totaled $25.2 million as of December 31, 2020. Total unrecognized compensation cost related to the unvested LTIP Units under the LTIP Units plans was zero as of December 31, 2020. The following table summarizes information about the LTIP Units outstanding as of December 31, 2020: Long-Term Incentive Plan - LTIP Units Total Total Total Weighted- Weighted- Balance, December 31, 2017 213,300 23,212 236,512 $ 75.03 7.5 Granted — — — Vested 12,051 (12,051) — Converted (91,270) — (91,270) Cancelled — — — Balance, December 31, 2018 134,081 11,161 145,242 $ 75.03 6.5 Granted — — — Vested 9,176 (9,176) — Converted — — — Cancelled — (95) (95) Balance, December 31, 2019 143,257 1,890 145,147 $ 75.03 5.2 Granted — — — Vested 1,890 (1,890) — Converted (39,010) — (39,010) Cancelled — — — Balance, December 31, 2020 106,137 — 106,137 $ 84.47 3.6

Segment Information

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information The Company's segment disclosures present the measure used by the chief operating decision makers for purposes of assessing each segment's performance. The Company's chief operating decision makers are comprised of several members of its executive management team who use net operating income ("NOI") to assess the performance of the business for the Company's reportable operating segments. NOI represents total property revenues less direct property operating expenses. The executive management team generally evaluates the Company's operating performance geographically. The Company defines its reportable operating segments as the three geographical regions in which its communities are located: Southern California, Northern California and Seattle Metro. Excluded from segment revenues and NOI are management and other fees from affiliates and interest and other income. Non-segment revenues and NOI included in the following schedule also consist of revenues generated from commercial properties and properties that have been sold. Other non-segment assets include items such as real estate under development, co-investments, real estate held for sale, cash and cash equivalents, marketable securities, notes and other receivables, and prepaid expenses and other assets. The revenues and NOI for each of the reportable operating segments are summarized as follows for the years ended December 31, 2020, 2019, and 2018 ($ in thousands): Years Ended December 31, 2020 2019 2018 Revenues: Southern California $ 570,673 $ 597,330 $ 579,533 Northern California 610,867 557,139 520,117 Seattle Metro 243,900 243,060 234,138 Other real estate assets 60,710 53,099 57,082 Total property revenues $ 1,486,150 $ 1,450,628 $ 1,390,870 Net operating income: Southern California $ 393,776 $ 425,882 $ 412,517 Northern California 435,403 412,706 384,548 Seattle Metro 166,847 172,601 163,927 Other real estate assets 49,724 42,912 45,537 Total net operating income 1,045,750 1,054,101 1,006,529 Management and other fees from affiliates 9,598 9,527 9,183 Corporate-level property management expenses (34,573) (34,067) (32,055) Depreciation and amortization (525,497) (483,750) (479,884) General and administrative (65,388) (54,262) (53,451) Expensed acquisition and investment related costs (1,591) (168) (194) Impairment loss (1,825) (7,105) — Gain (loss) on sale of real estate and land 64,967 (3,164) 61,861 Interest expense (220,633) (217,339) (220,492) Total return swap income 10,733 8,446 8,707 Interest and other income 40,999 46,298 23,010 Equity income from co-investments 66,512 112,136 89,132 Deferred tax expense on unrealized gain on unconsolidated co-investment (1,531) (1,457) — (Loss) Gain on early retirement of debt, net (22,883) 3,717 — Gain on remeasurement of co-investment 234,694 31,535 1,253 Net income $ 599,332 $ 464,448 $ 413,599 Total assets for each of the reportable operating segments are summarized as follows as of December 31, 2020 and 2019 ($ in thousands): As of December 31, 2020 2019 Assets: Southern California $ 3,993,275 $ 4,139,104 Northern California 5,520,019 4,408,404 Seattle Metro 1,403,678 1,456,187 Other real estate assets 10,814 344,965 Net reportable operating segments - real estate assets 10,927,786 10,348,660 Real estate under development 386,047 546,075 Co-investments 1,018,010 1,335,339 Real estate held for sale 57,938 — Cash and cash equivalents, including restricted cash 84,041 81,094 Marketable securities 147,768 144,193 Notes and other receivables 195,104 134,365 Operating lease right-of-use assets 72,143 74,744 Prepaid expenses and other assets 47,340 40,935 Total assets $ 12,936,177 $ 12,705,405

401(k) Plan

401(k) Plan	12 Months Ended
401(k) Plan	Dec. 31, 2020
Retirement Benefits [Abstract]
401(k) Plan	401(k) Plan The Company has a 401(k) benefit plan (the "Plan") for all eligible employees. Employee contributions are limited by the maximum allowed under Section 401(k) of the Internal Revenue Code. The Company matches 50% of the employee contributions up to a specified maximum. Company contributions to the Plan were approximately $2.7 million, $2.4 million, and $2.1 million for the years ended December 31, 2020, 2019, and 2018, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company's total minimum lease payment commitments, under ground leases, parking leases, and operating leases are disclosed in Note 11, Lease Agreements - Company as Lessee. To the extent that an environmental matter arises or is identified in the future that has other than a remote risk of having a material impact on the financial statements, the Company will disclose the estimated range of possible outcomes associated with it and, if an outcome is probable, accrue an appropriate liability for that matter. The Company will consider whether any such matter results in an impairment of value on the affected property and, if so, the impairment will be recognized. The Company has no way of determining the magnitude of any potential liability to which it may be subject arising out of unknown environmental conditions with respect to the communities currently or formerly owned by the Company. No assurance can be given that: existing environmental assessments conducted with respect to any of these communities have revealed all environmental conditions or potential liabilities associated with such conditions; any prior owner or operator of a property did not create any material environmental condition not known to the Company; or a material unknown environmental condition does not otherwise exist as to any one or more of the communities. The Company has limited insurance coverage for some of the types of environmental conditions and associated liabilities described above. The Company has entered into transactions that may require the Company to pay the tax liabilities of the partners or members in the Operating Partnership or in the DownREIT entities. These transactions are within the Company’s control. Although the Company plans to hold the contributed assets or defer recognition of gain on their sale pursuant to like-kind exchange rules under Section 1031 of the Internal Revenue Code, the Company can provide no assurance that it will be able to do so and if such tax liabilities were incurred they may have a material impact on the Company’s financial position. There continue to be lawsuits against owners and managers of certain of the Company's apartment communities alleging personal injury and property damage caused by the presence of mold in the residential units and common areas of those communities. Some of these lawsuits have resulted in substantial monetary judgments or settlements in the past. The Company has been sued for mold related matters and has settled some, but not all, of such suits. Insurance carriers have reacted to the increase in mold related liability awards by excluding mold related claims from standard general liability policies and pricing mold endorsements at prohibitively high rates. The Company has, however, purchased pollution liability insurance which includes coverage for some mold claims. The Company has also adopted policies intended to promptly address and resolve reports of mold and to minimize any impact mold might have on tenants of its properties. The Company believes its mold policies and proactive response to address reported mold exposures reduces its risk of loss from mold claims. While no assurances can be given that the Company has identified and responded to all mold occurrences, the Company promptly addresses and responds to all known mold reports. Liabilities resulting from such mold related matters are not expected to have a material adverse effect on the Company’s financial condition, results of operations or cash flows. As of December 31, 2020, potential liabilities for mold and other environmental liabilities are not quantifiable and an estimate of possible loss cannot be made. The Company carries comprehensive liability, fire, extended coverage and rental loss insurance for each of the communities. There are, however, certain types of extraordinary losses, such as, for example, losses from terrorism or earthquakes, for which the Company has limited insurance coverage. Substantially all of the communities are located in areas that are subject to earthquake activity. The Company has established a wholly-owned insurance subsidiary, Pacific Western Insurance LLC ("PWI"). Through PWI, the Company is self-insured for earthquake related losses. Additionally, since January 2008, PWI has provided property and casualty insurance coverage for the first $5.0 million of the Company’s property level insurance claims per incident. As of December 31, 2020, PWI has cash and marketable securities of approximately $152.8 million. These assets are consolidated in the Company’s financial statements. Beginning in 2013, the Company has obtained limited third party seismic insurance on selected assets in the Company's co-investments.

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn February 2021, the Company repaid $100.0 million of unsecured debt due to mature in 2021 at an effective rate of 4.3%.

SCHEDULE III REAL ESTATE AND AC

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	Costs Initial cost capitalized Gross amount carried at close of period Apartment Buildings and subsequent to Land and Buildings and Accumulated Date of Date Lives Property Homes Location Encumbrance Land improvements acquisition improvements improvements Total (1) depreciation construction acquired (years) Encumbered communities Belmont Station 275 Los Angeles, CA 29,728 8,100 66,666 7,386 8,267 73,885 82,152 (33,891) 2009 Mar-09 3-30 Brio 300 Walnut Creek, CA 98,956 16,885 151,741 1,263 16,885 153,004 169,889 (8,559) 2015 Jun-19 3-30 Form 15 242 San Diego, CA 42,271 24,510 72,221 11,835 25,540 83,026 108,566 (13,807) 2014 Mar-16 3-30 Fountain Park 705 Playa Vista, CA 82,707 25,073 94,980 36,019 25,203 130,869 156,072 (80,772) 2002 Feb-04 3-30 Highridge 255 Rancho Palos Verdes, CA 69,345 5,419 18,347 33,311 6,073 51,004 57,077 (41,762) 1972 May-97 3-30 Magnolia Square/Magnolia Lane (2) 188 Sunnyvale, CA 52,303 8,190 24,736 18,553 8,191 43,288 51,479 (26,038) 1963 Sep-07 3-30 Marquis 166 San Jose, CA 44,077 20,495 47,823 178 20,495 48,001 68,496 (3,290) 2015 Dec-18 3-30 Sage at Cupertino 230 San Jose, CA 51,758 35,719 53,449 9,242 35,719 62,691 98,410 (9,454) 1971 Mar-17 3-30 The Barkley (3) 161 Anaheim, CA 14,873 — 8,520 7,659 2,353 13,826 16,179 (10,114) 1984 Apr-00 3-30 The Dylan 184 West Hollywood, CA 58,515 19,984 82,286 1,502 19,990 83,782 103,772 (18,368) 2015 Mar-15 3-30 The Huxley 187 West Hollywood, CA 53,277 19,362 75,641 1,710 19,371 77,342 96,713 (17,213) 2014 Mar-15 3-30 Township 132 Redwood City, CA 45,740 19,812 70,619 630 19,812 71,249 91,061 (3,199) 2014 Sep-19 3-30 3,025 $ 643,550 $ 203,549 $ 767,029 $ 129,288 $ 207,899 $ 891,967 $ 1,099,866 $ (266,467) Unencumbered Communities Agora 49 Walnut Creek, CA — 4,932 60,423 187 4,934 60,608 65,542 (1,987) 2016 Jan-20 3-30 Alessio 624 Los Angeles, CA — 32,136 128,543 14,335 32,136 142,878 175,014 (37,803) 2001 Apr-14 5-30 Allegro 97 Valley Village, CA — 5,869 23,977 2,758 5,869 26,735 32,604 (11,343) 2010 Oct-10 3-30 Allure at Scripps Ranch 194 San Diego, CA — 11,923 47,690 1,979 11,923 49,669 61,592 (12,386) 2002 Apr-14 5-30 Alpine Village 301 Alpine, CA — 4,967 19,728 9,687 4,982 29,400 34,382 (18,364) 1971 Dec-02 3-30 Anavia 250 Anaheim, CA — 15,925 63,712 9,732 15,925 73,444 89,369 (25,398) 2009 Dec-10 3-30 Annaliese 56 Seattle, WA — 4,727 14,229 808 4,726 15,038 19,764 (4,182) 2009 Jan-13 3-30 Apex 366 Milpitas, CA — 44,240 103,251 6,095 44,240 109,346 153,586 (23,316) 2014 Aug-14 3-30 Aqua Marina Del Rey 500 Marina Del Rey, CA — 58,442 175,326 15,117 58,442 190,443 248,885 (52,469) 2001 Apr-14 5-30 Ascent 90 Kirkland, WA — 3,924 11,862 2,286 3,924 14,148 18,072 (4,792) 1988 Oct-12 3-30 Ashton Sherman Village 264 Los Angeles, CA — 23,550 93,811 1,536 23,550 95,347 118,897 (13,614) 2014 Dec-16 3-30 Avant 440 Los Angeles, CA — 32,379 137,940 3,722 32,379 141,662 174,041 (26,788) 2014 Jun-15 3-30 Avenue 64 224 Emeryville, CA — 27,235 64,403 16,322 27,235 80,725 107,960 (18,800) 2007 Apr-14 5-30 Aviara (4) 166 Mercer Island, WA — — 49,813 1,874 — 51,687 51,687 (13,707) 2013 Apr-14 5-30 Avondale at Warner Center 446 Woodland Hills, CA — 10,536 24,522 25,418 10,601 49,875 60,476 (36,728) 1970 Jan-99 3-30 Costs Initial cost capitalized Gross amount carried at close of period Apartment Buildings and subsequent to Land and Buildings and Accumulated Date of Date Lives Property Homes Location Encumbrance Land improvements acquisition improvements improvements Total (1) depreciation construction acquired (years) Bel Air 462 San Ramon, CA — 12,105 18,252 43,348 12,682 61,023 73,705 (43,768) 1988 Jan-95 3-30 Belcarra 296 Bellevue, WA — 21,725 92,091 2,613 21,725 94,704 116,429 (23,150) 2009 Apr-14 5-30 Bella Villagio 231 San Jose, CA — 17,247 40,343 4,651 17,247 44,994 62,241 (16,688) 2004 Sep-10 3-30 BellCentre 248 Bellevue, WA — 16,197 67,207 5,644 16,197 72,851 89,048 (18,845) 2001 Apr-14 5-30 Bellerive 63 Los Angeles, CA — 5,401 21,803 1,390 5,401 23,193 28,594 (8,573) 2011 Aug-11 3-30 Belmont Terrace 71 Belmont, CA — 4,446 10,290 7,387 4,473 17,650 22,123 (10,455) 1974 Oct-06 3-30 Bennett Lofts 165 San Francisco, CA — 21,771 50,800 30,939 28,371 75,139 103,510 (22,577) 2004 Dec-12 3-30 Bernardo Crest 216 San Diego, CA — 10,802 43,209 5,214 10,802 48,423 59,225 (12,642) 1988 Apr-14 5-30 Bonita Cedars 120 Bonita, CA — 2,496 9,913 5,834 2,503 15,740 18,243 (9,541) 1983 Dec-02 3-30 Boulevard 172 Fremont, CA — 3,520 8,182 14,651 3,580 22,773 26,353 (18,916) 1978 Jan-96 3-30 Brookside Oaks 170 Sunnyvale, CA — 7,301 16,310 27,349 10,328 40,632 50,960 (26,656) 1973 Jun-00 3-30 Bridle Trails 108 Kirkland, WA — 1,500 5,930 6,690 1,531 12,589 14,120 (9,424) 1986 Oct-97 3-30 Brighton Ridge 264 Renton, WA — 2,623 10,800 7,010 2,656 17,777 20,433 (13,419) 1986 Dec-96 3-30 Bristol Commons 188 Sunnyvale, CA — 5,278 11,853 10,433 5,293 22,271 27,564 (16,949) 1989 Jan-95 3-30 Bunker Hill 456 Los Angeles, CA — 11,498 27,871 96,132 11,639 123,862 135,501 (79,005) 1968 Mar-98 3-30 Camarillo Oaks 564 Camarillo, CA — 10,953 25,254 8,869 11,075 34,001 45,076 (26,629) 1985 Jul-96 3-30 Cambridge Park 320 San Diego, CA — 18,185 72,739 4,120 18,185 76,859 95,044 (19,617) 1998 Apr-14 5-30 Camino Ruiz Square 159 Camarillo, CA — 6,871 26,119 2,543 6,931 28,602 35,533 (13,801) 1990 Dec-06 3-30 Canyon Oaks 250 San Ramon, CA — 19,088 44,473 7,051 19,088 51,524 70,612 (23,554) 2005 May-07 3-30 Canyon Pointe 250 Bothell, WA — 4,692 18,288 9,479 4,693 27,766 32,459 (17,295) 1990 Oct-03 3-30 Capri at Sunny Hills 102 Fullerton, CA — 3,337 13,320 9,690 4,048 22,299 26,347 (15,327) 1961 Sep-01 3-30 Carmel Creek 348 San Diego, CA — 26,842 107,368 8,308 26,842 115,676 142,518 (30,274) 2000 Apr-14 5-30 Carmel Landing 356 San Diego, CA — 16,725 66,901 10,506 16,725 77,407 94,132 (20,335) 1989 Apr-14 5-30 Carmel Summit 246 San Diego, CA — 14,968 59,871 4,545 14,968 64,416 79,384 (16,376) 1989 Apr-14 5-30 Castle Creek 216 Newcastle, WA — 4,149 16,028 5,677 4,833 21,021 25,854 (15,908) 1998 Dec-98 3-30 Catalina Gardens 128 Los Angeles, CA — 6,714 26,856 2,490 6,714 29,346 36,060 (7,343) 1987 Apr-14 5-30 CBC Apartments & The Sweeps 239 Goleta, CA — 11,841 45,320 6,922 11,906 52,177 64,083 (28,445) 1962 Jan-06 3-30 Cedar Terrace 180 Bellevue, WA — 5,543 16,442 8,601 5,652 24,934 30,586 (13,973) 1984 Jan-05 3-30 CentrePointe 224 San Diego, CA — 3,405 7,743 22,335 3,442 30,041 33,483 (22,318) 1974 Jun-97 3-30 Chestnut Street Apartments 96 Santa Cruz, CA — 6,582 15,689 2,277 6,582 17,966 24,548 (7,884) 2002 Jul-08 3-30 City View 572 Hayward, CA — 9,883 37,670 32,941 10,350 70,144 80,494 (53,374) 1975 Mar-98 3-30 Collins on Pine 76 Seattle, WA — 7,276 22,226 688 7,276 22,914 30,190 (5,180) 2013 May-14 3-30 Connolly Station 309 Dublin, CA — 19,949 123,428 1,545 19,949 124,973 144,922 (4,139) 2014 Jan-20 3-30 Costs Initial cost capitalized Gross amount carried at close of period Apartment Buildings and subsequent to Land and Buildings and Accumulated Date of Date Lives Property Homes Location Encumbrance Land improvements acquisition improvements improvements Total (1) depreciation construction acquired (years) Corbella at Juanita Bay 169 Kirkland, WA — 5,801 17,415 3,961 5,801 21,376 27,177 (8,273) 1978 Nov-10 3-30 Cortesia 308 Rancho Santa Margarita, CA — 13,912 55,649 3,302 13,912 58,951 72,863 (14,944) 1999 Apr-14 5-30 Country Villas 180 Oceanside, CA — 4,174 16,583 5,547 4,187 22,117 26,304 (13,934) 1976 Dec-02 3-30 Courtyard off Main 110 Bellevue, WA — 7,465 21,405 5,047 7,465 26,452 33,917 (10,190) 2000 Oct-10 3-30 Crow Canyon 400 San Ramon, CA — 37,579 87,685 12,923 37,579 100,608 138,187 (26,738) 1992 Apr-14 5-30 Deer Valley 171 San Rafael, CA — 21,478 50,116 3,644 21,478 53,760 75,238 (13,744) 1996 Apr-14 5-30 Devonshire 276 Hemet, CA — 3,470 13,786 6,533 3,482 20,307 23,789 (12,163) 1988 Dec-02 3-30 Domaine 92 Seattle, WA — 9,059 27,177 1,545 9,059 28,722 37,781 (8,376) 2009 Sep-12 3-30 Elevation 158 Redmond, WA — 4,758 14,285 7,372 4,757 21,658 26,415 (10,931) 1986 Jun-10 3-30 Ellington 220 Bellevue, WA — 15,066 45,249 4,089 15,066 49,338 64,404 (11,978) 1994 Jul-14 3-30 Emerald Pointe 160 Diamond Bar, CA — 8,458 33,832 2,404 8,458 36,236 44,694 (9,304) 1989 Apr-14 5-30 Emerald Ridge 180 Bellevue, WA — 3,449 7,801 6,915 3,449 14,716 18,165 (11,762) 1987 Nov-94 3-30 Emerson Valley Village 144 Los Angeles, CA — 13,378 53,240 1,349 13,378 54,589 67,967 (7,825) 2012 Dec-16 3-30 Emme 190 Emeryville, CA — 15,039 80,532 357 15,039 80,889 95,928 (2,709) 2015 Jan-20 3-30 Enso 183 San Jose, CA — 21,397 71,135 1,907 21,397 73,042 94,439 (13,258) 2014 Dec-15 3-30 Epic 769 San Jose, CA — 89,111 307,769 509 89,111 308,278 397,389 (10,261) 2013 Jan-20 3-30 Esplanade 278 San Jose, CA — 18,170 40,086 16,209 18,429 56,036 74,465 (32,656) 2002 Apr-04 3-30 Essex Skyline 350 Santa Ana, CA — 21,537 146,099 12,601 21,537 158,700 180,237 (48,170) 2008 Apr-10 3-30 Evergreen Heights 200 Kirkland, WA — 3,566 13,395 7,339 3,649 20,651 24,300 (15,822) 1990 Jun-97 3-30 Fairhaven Apartments 164 Santa Ana, CA — 2,626 10,485 10,243 2,957 20,397 23,354 (13,581) 1970 Nov-01 3-30 Fairway Apartments at Big Canyon (5) 74 Newport Beach, CA — — 7,850 8,513 — 16,363 16,363 (12,710) 1972 Jun-99 3-28 Fairwood Pond 194 Renton, WA — 5,296 15,564 4,599 5,297 20,162 25,459 (11,530) 1997 Oct-04 3-30 Foothill Commons 394 Bellevue, WA — 2,435 9,821 41,978 2,440 51,794 54,234 (47,403) 1978 Mar-90 3-30 Foothill Gardens/Twin Creeks 176 San Ramon, CA — 5,875 13,992 12,289 5,964 26,192 32,156 (19,884) 1985 Feb-97 3-30 Forest View 192 Renton, WA — 3,731 14,530 3,713 3,731 18,243 21,974 (10,629) 1998 Oct-03 3-30 Foster's Landing 490 Foster City, CA — 61,714 144,000 11,178 61,714 155,178 216,892 (41,241) 1987 Apr-14 5-30 Fountain Court 320 Seattle, WA — 6,702 27,306 13,573 6,985 40,596 47,581 (29,905) 2000 Mar-00 3-30 Fountains at River Oaks 226 San Jose, CA — 26,046 60,773 5,897 26,046 66,670 92,716 (17,559) 1990 Apr-14 3-30 Fourth & U 171 Berkeley, CA — 8,879 52,351 4,337 8,879 56,688 65,567 (21,596) 2010 Apr-10 3-30 Fox Plaza 445 San Francisco, CA — 39,731 92,706 39,712 39,731 132,418 172,149 (41,715) 1968 Feb-13 3-30 The Henley I/The Henley II 215 Glendale, CA — 6,695 16,753 28,607 6,733 45,322 52,055 (30,235) 1970 Jun-99 3-30 Highlands at Wynhaven 333 Issaquah, WA — 16,271 48,932 15,477 16,271 64,409 80,680 (30,874) 2000 Aug-08 3-30 Costs Initial cost capitalized Gross amount carried at close of period Apartment Buildings and subsequent to Land and Buildings and Accumulated Date of Date Lives Property Homes Location Encumbrance Land improvements acquisition improvements improvements Total (1) depreciation construction acquired (years) Hillcrest Park 608 Newbury Park, CA — 15,318 40,601 22,105 15,755 62,269 78,024 (45,189) 1973 Mar-98 3-30 Hillsdale Garden 697 San Mateo, CA — 22,000 94,681 29,391 22,000 124,072 146,072 (64,193) 1948 Sep-06 3-30 Hope Ranch 108 Santa Barbara, CA — 4,078 16,877 3,144 4,208 19,891 24,099 (9,564) 1965 Mar-07 3-30 Huntington Breakers 342 Huntington Beach, CA — 9,306 22,720 22,039 9,315 44,750 54,065 (35,095) 1984 Oct-97 3-30 Inglenook Court 224 Bothell, WA — 3,467 7,881 8,603 3,474 16,477 19,951 (13,915) 1985 Oct-94 3-30 Lafayette Highlands 150 Lafayette, CA — 17,774 41,473 4,292 17,774 45,765 63,539 (11,649) 1973 Apr-14 5-30 Lakeshore Landing 308 San Mateo, CA — 38,155 89,028 9,182 38,155 98,210 136,365 (26,612) 1988 Apr-14 5-30 Laurels at Mill Creek 164 Mill Creek, WA — 1,559 6,430 8,586 1,595 14,980 16,575 (11,277) 1981 Dec-96 3-30 Lawrence Station 336 Sunnyvale, CA — 45,532 106,735 2,494 45,532 109,229 154,761 (30,819) 2012 Apr-14 5-30 Le Parc 140 Santa Clara, CA — 3,090 7,421 14,181 3,092 21,600 24,692 (17,358) 1975 Feb-94 3-30 Marbrisa 202 Long Beach, CA — 4,700 18,605 10,150 4,760 28,695 33,455 (18,760) 1987 Sep-02 3-30 Marina City Club (6) 101 Marina Del Rey, CA — — 28,167 34,572 — 62,739 62,739 (31,601) 1971 Jan-04 3-30 Marina Cove (7) 292 Santa Clara, CA — 5,320 16,431 16,263 5,324 32,690 38,014 (27,925) 1974 Jun-94 3-30 Mariner's Place 105 Oxnard, CA — 1,555 6,103 2,679 1,562 8,775 10,337 (6,362) 1987 May-00 3-30 MB 360 360 San Francisco, CA — 42,001 212,648 12,308 42,001 224,956 266,957 (50,304) 2014 Apr-14 3-30 Mesa Village 133 Clairemont, CA — 1,888 7,498 2,734 1,894 10,226 12,120 (6,127) 1963 Dec-02 3-30 Mill Creek at Windermere 400 San Ramon, CA — 29,551 69,032 7,370 29,551 76,402 105,953 (34,899) 2005 Sep-07 3-30 Mio 103 San Jose, CA — 11,012 39,982 675 11,012 40,657 51,669 (7,166) 2015 Jan-16 3-30 Mirabella 188 Marina Del Rey, CA — 6,180 26,673 17,242 6,270 43,825 50,095 (28,017) 2000 May-00 3-30 Mira Monte 354 Mira Mesa, CA — 7,165 28,459 12,402 7,186 40,840 48,026 (26,833) 1982 Dec-02 3-30 Miracle Mile/Marbella 236 Los Angeles, CA — 7,791 23,075 15,609 7,886 38,589 46,475 (29,348) 1988 Aug-97 3-30 Mission Hills 282 Oceanside, CA — 10,099 38,778 11,525 10,167 50,235 60,402 (26,979) 1984 Jul-05 3-30 Mission Peaks 453 Fremont, CA — 46,499 108,498 8,474 46,499 116,972 163,471 (29,818) 1995 Apr-14 5-30 Mission Peaks II 336 Fremont, CA — 31,429 73,334 8,388 31,429 81,722 113,151 (21,416) 1989 Apr-14 5-30 Montanosa 472 San Diego, CA — 26,697 106,787 7,521 26,697 114,308 141,005 (28,912) 1990 Apr-14 5-30 Montclaire 390 Sunnyvale, CA — 4,842 19,776 28,355 4,997 47,976 52,973 (43,336) 1973 Dec-88 3-30 Montebello 248 Kirkland, WA — 13,857 41,575 7,496 13,858 49,070 62,928 (15,854) 1996 Jul-12 3-30 Montejo Apartments 124 Garden Grove, CA — 1,925 7,685 4,490 2,194 11,906 14,100 (7,588) 1974 Nov-01 3-30 Monterey Villas 122 Oxnard, CA — 2,349 5,579 7,169 2,424 12,673 15,097 (9,150) 1974 Jul-97 3-30 Muse 152 North Hollywood, CA — 7,822 33,436 3,659 7,823 37,094 44,917 (15,284) 2011 Feb-11 3-30 1000 Kiely 121 Santa Clara, CA — 9,359 21,845 8,669 9,359 30,514 39,873 (13,890) 1971 Mar-11 3-30 Palm Valley 1,099 San Jose, CA — 133,802 312,205 18,156 133,802 330,361 464,163 (48,807) 2008 Jan-17 3-30 Paragon Apartments 301 Fremont, CA — 32,230 77,320 2,583 32,230 79,903 112,133 (17,735) 2013 Jul-14 3-30 Costs Initial cost capitalized Gross amount carried at close of period Apartment Buildings and subsequent to Land and Buildings and Accumulated Date of Date Lives Property Homes Location Encumbrance Land improvements acquisition improvements improvements Total (1) depreciation construction acquired (years) Park 20 197 San Mateo, CA — 27,041 89,281 (1,340) 26,607 88,375 114,982 (2,983) 2015 Jan-20 3-30 Park Catalina 90 Los Angeles, CA — 4,710 18,839 3,628 4,710 22,467 27,177 (8,035) 2002 Jun-12 3-30 Park Highland 250 Bellevue, WA — 9,391 38,224 13,735 9,391 51,959 61,350 (16,898) 1993 Apr-14 5-30 Park Hill at Issaquah 245 Issaquah, WA — 7,284 21,937 11,471 7,284 33,408 40,692 (18,428) 1999 Feb-99 3-30 Park Viridian 320 Anaheim, CA — 15,894 63,574 4,541 15,894 68,115 84,009 (17,410) 2008 Apr-14 5-30 Park West 126 San Francisco, CA — 9,424 21,988 12,712 9,424 34,700 44,124 (14,022) 1958 Sep-12 3-30 Parkwood at Mill Creek 240 Mill Creek, WA — 10,680 42,722 3,545 10,680 46,267 56,947 (12,081) 1989 Apr-14 5-30 Patent 523 295 Seattle, WA — 14,558 69,417 6,137 14,558 75,554 90,112 (29,643) 2010 Mar-10 3-30 Pathways at Bixby Village 296 Long Beach, CA — 4,083 16,757 22,199 6,239 36,800 43,039 (33,133) 1975 Feb-91 3-30 Piedmont 396 Bellevue, WA — 19,848 59,606 13,932 19,848 73,538 93,386 (20,426) 1969 May-14 3-30 Pinehurst (8) 28 Ventura, CA — — 1,711 756 — 2,467 2,467 (1,643) 1973 Dec-04 3-24 Pinnacle at Fullerton 192 Fullerton, CA — 11,019 45,932 4,475 11,019 50,407 61,426 (13,250) 2004 Apr-14 5-30 Pinnacle on Lake Washington 180 Renton, WA — 7,760 31,041 3,915 7,760 34,956 42,716 (9,138) 2001 Apr-14 5-30 Pinnacle at MacArthur Place 253 Santa Ana, CA — 15,810 66,401 6,056 15,810 72,457 88,267 (18,585) 2002 Apr-14 5-30 Pinnacle at Otay Ranch I & II 364 Chula Vista, CA — 17,023 68,093 4,828 17,023 72,921 89,944 (18,684) 2001 Apr-14 5-30 Pinnacle at Talega 362 San Clemente, CA — 19,292 77,168 3,631 19,292 80,799 100,091 (20,288) 2002 Apr-14 5-30 Pinnacle Sonata 268 Bothell, WA — 14,647 58,586 5,554 14,647 64,140 78,787 (16,211) 2000 Apr-14 5-30 Pointe at Cupertino 116 Cupertino, CA — 4,505 17,605 12,918 4,505 30,523 35,028 (20,740) 1963 Aug-98 3-30 Pure Redmond 105 Redmond, WA — 7,461 31,363 411 7,461 31,774 39,235 (1,195) 2016 Dec-19 3-30 Radius 264 Redwood City, CA — 11,702 152,336 1,190 11,702 153,526 165,228 (39,220) 2015 Apr-14 3-30 Reed Square 100 Sunnyvale, CA — 6,873 16,037 8,746 6,873 24,783 31,656 (11,387) 1970 Jan-12 3-30 Regency at Encino 75 Encino, CA — 3,184 12,737 4,212 3,184 16,949 20,133 (7,710) 1989 Dec-09 3-30 Renaissance at Uptown Orange 460 Orange, CA — 27,870 111,482 7,258 27,870 118,740 146,610 (29,992) 2007 Apr-14 5-30 Reveal 438 Woodland Hills, CA — 25,073 121,314 3,656 25,073 124,970 150,043 (27,492) 2010 Apr-15 3-30 Salmon Run at Perry Creek 132 Bothell, WA — 3,717 11,483 3,054 3,801 14,453 18,254 (9,519) 2000 Oct-00 3-30 Sammamish View 153 Bellevue, WA — 3,324 7,501 7,530 3,331 15,024 18,355 (13,067) 1986 Nov-94 3-30 101 San Fernando 323 San Jose, CA — 4,173 58,961 13,856 4,173 72,817 76,990 (30,215) 2001 Jul-10 3-30 San Marcos 432 Richmond, CA — 15,563 36,204 33,980 22,866 62,881 85,747 (36,750) 2003 Nov-03 3-30 Santee Court/Santee Village 238 Los Angeles, CA — 9,581 40,317 13,433 9,582 53,749 63,331 (19,802) 2004 Oct-10 3-30 Shadow Point 172 Spring Valley, CA — 2,812 11,170 4,576 2,820 15,738 18,558 (9,638) 1983 Dec-02 3-30 Shadowbrook 418 Redmond, WA — 19,292 77,168 6,131 19,292 83,299 102,591 (21,393) 1986 Apr-14 5-30 Slater 116 108 Kirkland, WA — 7,379 22,138 1,323 7,379 23,461 30,840 (6,063) 2013 Sep-13 3-30 Solstice 280 Sunnyvale, CA — 34,444 147,262 6,856 34,444 154,118 188,562 (42,130) 2014 Apr-14 5-30 Costs Initial cost capitalized Gross amount carried at close of period Apartment Buildings and subsequent to Land and Buildings and Accumulated Date of Date Lives Property Homes Location Encumbrance Land improvements acquisition improvements improvements Total (1) depreciation construction acquired (years) Station Park Green - Phases I, II, and III 492 San Mateo, CA — 54,782 314,694 282 54,782 314,976 369,758 (21,497) 2018 Mar-18 3-30 Stevenson Place 200 Fremont, CA — 996 5,582 14,268 1,001 19,845 20,846 (15,706) 1975 Apr-00 3-30 Stonehedge Village 196 Bothell, WA — 3,167 12,603 9,180 3,201 21,749 24,950 (15,989) 1986 Oct-97 3-30 Summerhill Park 100 Sunnyvale, CA — 2,654 4,918 11,257 2,656 16,173 18,829 (12,935) 1988 Sep-88 3-30 Summit Park 300 San Diego, CA — 5,959 23,670 8,912 5,977 32,564 38,541 (19,893) 1972 Dec-02 3-30 Taylor 28 197 Seattle, WA — 13,915 57,700 3,693 13,915 61,393 75,308 (15,413) 2008 Apr-14 5-30 The Audrey at Belltown 137 Seattle, WA — 9,228 36,911 2,050 9,228 38,961 48,189 (9,456) 1992 Apr-14 5-30 The Avery 121 Los Angeles, CA — 6,964 29,922 889 6,964 30,811 37,775 (7,071) 2014 Mar-14 3-30 The Bernard 63 Seattle, WA — 3,699 11,345 884 3,689 12,239 15,928 (4,075) 2008 Sep-11 3-30 The Blake LA 196 Los Angeles, CA — 4,023 9,527 24,135 4,031 33,654 37,685 (20,615) 1979 Jun-97 3-30 The Cairns 99 Seattle, WA — 6,937 20,679 2,586 6,939 23,263 30,202 (10,874) 2006 Jun-07 3-30 The Commons 264 Campbell, CA — 12,555 29,307 9,940 12,556 39,246 51,802 (16,958) 1973 Jul-10 3-30 The Elliot at Mukilteo 301 Mukilteo, WA — 2,498 10,595 18,928 2,824 29,197 32,021 (22,866) 1981 Jan-97 3-30 The Galloway 506 Pleasanton, CA — 32,966 184,499 488 32,966 184,987 217,953 (6,214) 2016 Jan-20 3-30 The Grand 243 Oakland, CA — 4,531 89,208 7,518 4,531 96,726 101,257 (40,981) 2009 Jan-09 3-30 The Hallie 292 Pasadena, CA — 2,202 4,794 55,653 8,385 54,264 62,649 (39,551) 1972 Apr-97 3-30 The Huntington 276 Huntington Beach, CA — 10,374 41,495 7,036 10,374 48,531 58,905 (15,784) 1975 Jun-12 3-30 The Landing at Jack London Square 282 Oakland, CA — 33,554 78,292 7,860 33,554 86,152 119,706 (23,251) 2001 Apr-14 5-30 The Lofts at Pinehurst 118 Ventura, CA — 1,570 3,912 5,699 1,618 9,563 11,181 (6,616) 1971 Jun-97 3-30 The Palisades 192 Bellevue, WA — 1,560 6,242 13,990 1,565 20,227 21,792 (18,275) 1977 May-90 3-30 The Palms at Laguna Niguel 460 Laguna Niguel, CA — 23,584 94,334 12,080 23,584 106,414 129,998 (27,812) 1988 Apr-14 5-30 The Stuart 188 Pasadena, CA — 13,574 54,298 3,098 13,574 57,396 70,970 (14,822) 2007 Apr-14 5-30 The Trails of Redmond 423 Redmond, WA — 21,930 87,720 6,031 21,930 93,751 115,681 (23,961) 1985 Apr-14 5-30 The Waterford 238 San Jose, CA — 11,808 24,500 17,968 15,165 39,111 54,276 (25,616) 2000 Jun-00 3-30 Tierra Vista 404 Oxnard, CA — 13,652 53,336 7,831 13,661 61,158 74,819 (34,469) 2001 Jan-01 3-30 Tiffany Court 101 Los Angeles, CA — 6,949 27,796 2,042 6,949 29,838 36,787 (7,574) 1987 Apr-14 5-30 Trabuco Villas 132 Lake Forest, CA — 3,638 8,640 4,292 3,890 12,680 16,570 (9,358) 1985 Oct-97 3-30 Valley Park 160 Fountain Valley, CA — 3,361 13,420 6,653 3,761 19,673 23,434 (12,488) 1969 Nov-01 3-30 Via 284 Sunnyvale, CA — 22,000 82,270 3,630 22,016 85,884 107,900 (30,810) 2011 Jul-11 3-30 Villa Angelina 256 Placentia, CA — 4,498 17,962 8,173 4,962 25,671 30,633 (16,856) 1970 Nov-01 3-30 Villa Granada 270 Santa Clara, CA — 38,299 89,365 1,974 38,299 91,339 129,638 (22,819) 2010 Apr-14 5-30 Villa Siena 272 Costa Mesa, CA — 13,842 55,367 9,356 13,842 64,723 78,565 (17,830) 1974 Apr-14 5-30 Costs Initial cost capitalized Gross amount carried at close of period Apartment Buildings and subsequent to Land and Buildings and Accumulated Date of Date Lives Property Homes Location Encumbrance Land improvements acquisition improvements improvements Total (1) depreciation construction acquired (years) Village Green 272 La Habra, CA — 6,488 36,768 4,309 6,488 41,077 47,565 (11,151) 1971 Apr-14 5-30 Vista Belvedere 76 Tiburon, CA — 5,573 11,901 9,031 5,573 20,932 26,505 (13,068) 1963 Aug-04 3-30 Vox Apartments 58 Seattle, WA — 5,545 16,635 435 5,545 17,070 22,615 (4,158) 2013 Oct-13 3-30 Walnut Heights 163 Walnut, CA — 4,858 19,168 5,868 4,887 25,007 29,894 (14,831) 1964 Oct-03 3-30 Wandering Creek 156 Kent, WA — 1,285 4,980 5,345 1,296 10,314 11,610 (8,403) 1986 Nov-95 3-30 Wharfside Pointe 155 Seattle, WA — 2,245 7,020 13,442 2,258 20,449 22,707 (15,891) 1990 Jun-94 3-30 Willow Lake 508 San Jose, CA — 43,194 101,030 17,140 43,194 118,170 161,364 (37,680) 1989 Oct-12 3-30 5600 Wilshire 284 Los Angeles, CA — 30,535 91,604 5,049 30,535 96,653 127,188 (23,763) 2008 Apr-14 5-30 Wilshire La Brea 478 Los Angeles, CA — 56,932 211,998 11,972 56,932 223,970 280,902 (60,187) 2014 Apr-14 5-30 Wilshire Promenade 149 Fullerton, CA — 3,118 7,385 12,572 3,797 19,278 23,075 (12,881) 1992 Jan-97 3-30 Windsor Ridge 216 Sunnyvale, CA — 4,017 10,315 17,003 4,021 27,314 31,335 (23,963) 1989 Mar-89 3-30 Woodland Commons 302 Bellevue, WA — 2,040 8,727 24,952 2,044 33,675 35,719 (24,474) 1978 Mar-90 3-30 Woodside Village 145 Ventura, CA — 5,331 21,036 5,855 5,341 26,881 32,222 (14,838) 1987 Dec-04 3-30 48,156 $ — $ 2,680,765 $ 9,375,284 $ 1,876,157 $ 2,717,201 $ 11,215,005 $ 13,932,206 $ (3,848,633) Costs Initial cost capitalized Gross amount carried at close of period Buildings and subsequent Land and Buildings and Accumulated Property Encumbrance Land improvements to acquisition improvements improvements Total (1) depreciation Other real estate assets — 3,079 12,315 14,279 3,909 25,764 29,673 (18,859) $ — $ 3,079 $ 12,315 $ 14,279 $ 3,909 $ 25,764 $ 29,673 $ (18,859) Total $ 643,550 $ 2,887,393 $ 10,154,628 $ 2,019,724 $ 2,929,009 $ 12,132,736 $ 15,061,745 $ (4,133,959) (1) The aggregate cost for federal income tax purposes is approximately $11.6 billion (unaudited). (2) A portion of land is leased pursuant to a ground lease expiring 2070. (3) The land is leased pursuant to a ground lease expiring 2082. (4) The land is leased pursuant to a ground lease expiring 2070. (5) The land is leased pursuant to a ground lease expiring 2027. (6) The land is leased pursuant to a ground lease expiring 2067. (7) A portion of land is leased pursuant to a ground lease expiring in 2028. (8) The land is leased pursuant to a ground lease expiring in 2028. A summary of activity for rental properties and accumulated depreciation is as follows: 2020 2019 2018 2020 2019 2018 Rental properties: Accumulated depreciation: Balance at beginning of year $ 14,038,142 $ 13,366,101 $ 13,362,073 Balance at beginning of year $ 3,689,482 $ 3,209,548 $ 2,769,297 Acquisition, development, and improvement of real estate 1,426,505 672,041 325,986 Depreciation expense 518,629 479,934 478,721 Disposition of real estate and other (402,902) — (321,958) Depreciation expense - Disposals and other (74,152) — (38,470) Balance at the end of year $ 15,061,745 $ 14,038,142 $ 13,366,101 Balance at the end of year $ 4,133,959 $ 3,689,482 $ 3,209,548

Summary of Critical and Signi_2

Summary of Critical and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accounts of the Company, its controlled subsidiaries and the variable interest entities ("VIEs") in which it is the primary beneficiary are consolidated in the accompanying financial statements and prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"). In the opinion of management, all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been included and are normal and recurring in nature. All significant inter-company accounts and transactions have been eliminated. Noncontrolling interest includes the 3.4% limited partner interests in the Operating Partnership not held by the Company at both December 31, 2020 and 2019. These percentages include the Operating Partnership’s vested long-term incentive plan units (see Note 14).
Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02 "Leases (Topic 842)" which requires an entity that is a lessee to classify leases as either finance or operating and to recognize a lease liability and a right-of-use asset for all leases that have a duration of greater than 12 months. Leases of 12 months or less are to be accounted for similar to prior leasing guidance (Topic 840) for operating leases. For lessors, accounting for leases under the new standard is substantially the same as prior leasing guidance for sales-type leases, direct financing leases, and operating leases, but eliminates current real estate specific provisions and changes the treatment of initial direct costs. In July 2018, the FASB issued ASU No. 2018-11 "Leases (Topic 842): Targeted Improvements," which includes a practical expedient that allows lessors to not separate nonlease components from the associated lease component. This provides the Company with the option of not bifurcating certain common area maintenance recoveries as a non-lease component, if certain requirements are met. The Company adopted ASU No. 2016-02 and ASU No. 2018-11 as of January 1, 2019 using the modified retrospective approach and elected a package of practical expedients. There was no adjustment to the opening balance of retained earnings as a result of the adoption. See Note 10, Lease Agreements - Company as Lessor, and Note 11, Lease Agreements - Company as Lessee, for further details. In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13 "Measurement of Credit Losses on Financial Instruments," which amends the current approach to estimate credit losses on certain financial assets, including trade and other receivables, available-for-sale securities, and other financial instruments. Generally, this amendment requires entities to establish a valuation allowance for the expected lifetime losses of these certain financial assets. Subsequent changes in the valuation allowance are recorded in current earnings and reversal of previous losses are permitted. Previously, U.S. GAAP required entities to write down credit losses only when losses were probable and loss reversals were not permitted. The FASB additionally issued various updates to clarify and amend the guidance provided in ASU No. 2016-13. In May 2019, the FASB issued ASU No. 2019-04, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments," which, with respect to credit losses, among other things, clarifies and addresses issues related to accrued interest, transfers between classifications of loans or debt securities, recoveries, and variable interest rates. Additionally, in May 2019, the FASB issued ASU No. 2019-05, "Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief," which allows entities to irrevocably elect the fair value option on certain financial instruments. The Company adopted ASU No. 2016-13, ASU No. 2019-04, and ASU No. 2019-05 as of January 1, 2020, using the modified retrospective approach by applying a cumulative effect adjustment of $0.2 million representing estimated accumulated credit losses to the opening balance of retained earnings. In August 2018, the FASB issued ASU No. 2018-13 "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement," which eliminates certain disclosure requirements affecting all levels of measurements, and modifies and adds new disclosure requirements for Level 3 measurements. The Company adopted ASU No. 2018-13 as of January 1, 2020. This adoption did not have a material impact on the Company's consolidated results of operations or financial position. In March 2020, the FASB issued ASU No. 2020-04 "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting," which contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU No. 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In April 2020, the FASB issued a Staff Question-and-Answer ("Q&A") to clarify whether lease concessions related to the effects of COVID-19 require the application of the lease modification guidance under Accounting Standards Codification ("ASC") Topic 842, Leases. The Q&A allows companies to not apply the lease modification guidance to rent concessions that result in deferred rent where the total cash flows required by the modified lease agreement are materially the same as the cash flows required under the original lease and the changes to the lease do not result in a substantial increase to the rights of the lessor or the obligations of the lessee. The Company adopted the guidance during the three months ended June 30, 2020 for eligible residential lease concessions. The lease concessions that met the criteria of the Q&A are treated as if they were part of the enforceable rights and obligations of the parties under the existing lease contract. The amount of rent concessions subject to the Q&A were not material and this adoption did not have a material impact on the Company's consolidated results of operations or financial position.
Real Estate Rental Properties	Real Estate Rental Properties Significant expenditures, which improve or extend the life of an asset and have a useful life of greater than one year, are capitalized. Operating real estate assets are stated at cost and consist of land and land improvements, buildings and improvements, furniture, fixtures and equipment, and other costs incurred during their development, redevelopment and acquisition. Expenditures for maintenance and repairs are charged to expense as incurred. The depreciable life of various categories of fixed assets is as follows: Computer software and equipment 3 - 5 years Interior apartment home improvements 5 years Furniture, fixtures and equipment 5 - 10 years Land improvements and certain exterior components of real property 10 years Real estate structures 30 years The Company capitalizes all costs incurred with the predevelopment, development or redevelopment of real estate assets or are associated with the construction or expansion of real property. Such capitalized costs include land, land improvements, allocated costs of the Company’s project management staff, construction costs, as well as interest and related loan fees, property taxes and insurance. Capitalization begins for predevelopment, development, and redevelopment projects when activity commences. Capitalization ends when the apartment home is completed and the property is available for a new tenant or if the development activities cease. The Company allocates the purchase price of real estate on a fair value basis to land and building including personal property, and identifiable intangible assets, such as the value of above, below and in-place leases. In making estimates of relative fair values for purposes of allocating purchase price, the Company utilizes a number of sources, including independent land appraisals which consider comparable market transactions, its own analysis of recently acquired or developed comparable properties in our portfolio for land comparables and building replacement costs, and other publicly available market data. In calculating the fair value of identified intangible assets of an acquired property, the in-place leases are valued based on in-place rent rates and amortized over the average remaining term of all acquired leases. The values of the above and below market leases are amortized and recorded as either a decrease (in the case of above market leases) or an increase (in the case of below market leases) to rental revenue over the remaining term of the associated leases acquired. The value of acquired in-place leases are amortized to expense over the average remaining term of the leases acquired. The net carrying value of acquired in-place leases is $4.7 million and $1.2 million as of December 31, 2020 and 2019, respectively, and are included in prepaid expenses and other assets on the Company's consolidated balance sheets. The Company periodically assesses the carrying value of its real estate investments for indicators of impairment. The judgments regarding the existence of impairment indicators are based on monitoring investment market conditions and performance compared to budget for operating properties including the net operating income for the most recent 12 month period, monitoring estimated costs for properties under development, the Company's ability to hold and its intent with regard to each asset, and each property's remaining useful life. Whenever events or changes in circumstances indicate that the carrying amount of a property held for investment may not be fully recoverable, the carrying amount is evaluated. If the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount (including intangible assets) of a property held for investment, then the Company will recognize an impairment loss equal to the excess of the carrying amount over the fair value of the property. Fair value of a property is determined using conventional real estate valuation methods, such as discounted cash flow, the property’s unleveraged yield in comparison to the unleveraged yields and/or sales prices of similar communities that have been recently sold, and other third party information, if available. Communities held for sale are carried at the lower of cost or fair value less estimated costs to sell. As of December 31, 2020, two properties were classified as held for sale. As of December 31, 2019, no properties were classified as held for sale. The Company recorded an impairment charge of $1.8 million for the year ended December 31, 2020 related to one of the Company's consolidated properties as a result of a change in the Company's intent to hold the property for its remaining useful life. The Company recorded an impairment charge of $7.1 million for the year ended December 31, 2019 on a parcel of land that was part of a consolidated co-investment with Canada Pension Plan Investment Board ("CPPIB" or "CPP"). The impairment charge resulted from the Company's acquisition of CPPIB's 45% interest in the co-investment. The impairment analysis over the parcel’s fair value was determined using internally developed models based on market assumptions. No impairment charges were recorded for the year ended December 31, 2018. In the normal course of business, the Company will receive purchase offers for its communities, either solicited or unsolicited. For those offers that are accepted, the prospective buyer will usually require a due diligence period before consummation of the transaction. It is not unusual for matters to arise that result in the withdrawal or rejection of the offer during this process. The Company classifies real estate as "held for sale" when all criteria under the accounting standard for the disposals of long-lived assets have been met.
Co-investments	Co-investments The Company owns investments in joint ventures in which it has significant influence, but its ownership interest does not meet the criteria for consolidation in accordance with U.S. GAAP. Therefore, the Company accounts for co-investments using the equity method of accounting. Under the equity method of accounting, the investment is carried at the cost of assets contributed, plus the Company’s equity in earnings less distributions received and the Company’s share of losses. The significant accounting policies of the Company’s co-investment entities are consistent with those of the Company in all material respects. Upon the acquisition of a controlling interest of a co-investment, the co-investment entity is consolidated and a gain or loss is recognized upon the remeasurement of co-investments in the consolidated statement of income equal to the amount by which the fair value of the Company's previously owned co-investment interest exceeds its carrying value. A majority of the co-investments, excluding most preferred equity investments, compensate the Company for its asset management services and some of these investments may provide promote income if certain financial return benchmarks are achieved. Asset management fees are recognized when earned, and promote fees are recognized when the earnings events have occurred and the amount is determinable and collectible. Any promote fees are reflected in equity income from co-investments.
Revenues and Gains on Sale of Real Estate	Revenues and Gains on Sale of Real Estate Revenues from tenants renting or leasing apartment homes are recorded when due from tenants and are recognized monthly as they are earned, which generally approximates a straight-line basis, else, adjustments are made to conform to a straight-line basis. Apartment homes are rented under short-term leases (generally, lease terms of 9 to 12 months). Revenues from tenants leasing commercial space are recorded on a straight-line basis over the life of the respective lease. See Note 4, Revenues, and Note 10, Lease Agreements - Company as Lessor, for additional information regarding such revenues. The Company also generates other property-related revenue associated with the leasing of apartment homes, including storage income, pet rent, and other miscellaneous revenue. Similar to rental income, such revenues are recorded when due from tenants and recognized monthly as they are earned. Apart from rental and other property-related revenue, revenues from contracts with customers are recognized as control of the promised services is passed to the customer. For customer contracts related to management and other fees from affiliates (which includes asset management and property management), the transaction price and amount of revenue to be recognized is determined each quarter based on the management fee calculated and earned for that month or quarter. The contract will contain a description of the service and the fee percentage for management services. Payments from such services are one month or one quarter in arrears of the service performed. The Company recognizes any gains on sales of real estate when it transfers control of a property and when it is probable that the Company will collect substantially all of the related consideration.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted CashHighly liquid investments with original maturities of three months or less when purchased are classified as cash equivalents. Restricted cash balances relate primarily to reserve requirements for capital replacement at certain communities in connection with the Company’s mortgage debt.
Marketable Securities	Marketable Securities The Company reports its equity securities and available for sale debt securities at fair value, based on quoted market prices (Level 1 for the common stock and investment funds, Level 2 for the unsecured debt and Level 3 for investments in mortgage backed securities, as defined by the FASB standard for fair value measurements as discussed later in Note 2). As of December 31, 2020 and 2019, $2.5 million and $3.6 million, respectively, of equity securities presented within common stock and stock funds in the tables below represent investments measured at fair value, using net asset value as a practical expedient, and are not categorized in the fair value hierarchy. Any unrealized gain or loss in debt securities classified as available for sale is recorded as other comprehensive income. There were no other than temporary impairment charges for the years ended December 31, 2020, 2019, and 2018. Unrealized gains and losses in equity securities, realized gains and losses in debt securities, interest income, and amortization of purchase discounts are included in interest and other income on the consolidated statements of income. As of December 31, 2020 and 2019, equity securities and available for sale debt securities consisted primarily of investment-grade unsecured debt, U.S. treasury securities, and common stock and stock funds. As of December 31, 2019, the Company classified its mortgage backed securities as held to maturity, and accordingly, the securities were stated at their amortized cost. One of the investments in mortgage backed securities matured in November 2019 and the other matured in December 2020.
Notes Receivable	Notes Receivable Notes receivable relate to real estate financing arrangements including mezzanine and bridge loans. Interest is recognized over the life of the note as interest income. Each note is analyzed to determine if it is impaired. A note is impaired if it is probable that the Company will not collect all contractually due principal and interest. The Company does not accrue interest when a note is considered impaired and an allowance is recorded for any principal and previously accrued interest that are not believed to be collectible. All cash receipts on impaired notes are applied to reduce the principal amount of such notes until the principal has been recovered and, thereafter, are recognized as interest income. As of December 31, 2020 and 2019, no notes were impaired. In the normal course of business, the Company originates and holds two types of loans: mezzanine loans issued to entities that are pursuing apartment development and short-term bridge loans issued to joint ventures with the Company. The Company categorizes development project mezzanine loans into risk categories based on relevant information about the ability of the borrowers to service their debt, such as: current financial information, credit documentation, public information, and previous experience with the borrower. The Company initially analyzes each mezzanine loan individually to classify the credit risk of the loan. On a periodic basis the Company evaluates and performs site visits of the development projects associated with the mezzanine loans to confirm whether they are on budget and whether there are any delays in development that could impact the Company's assessment of credit loss.
Capitalization Policy	Capitalization PolicyThe Company capitalizes all direct and certain indirect costs, including interest, real estate taxes and insurance, incurred during development and redevelopment activities. Interest is capitalized on real estate assets that require a period of time to get them ready for their intended use. The amount of interest capitalized is based upon the average amount of accumulated development expenditures during the reporting period. Included in capitalized costs are management’s estimates of the direct and incremental personnel costs and indirect project costs associated with the Company's development and redevelopment activities. Indirect project costs consist primarily of personnel costs associated with construction administration and development, including accounting, legal fees, and various corporate and community onsite costs that clearly relate to projects under development. Those costs, inclusive of capitalized interest, as well as capitalized development and redevelopment fees totaled $31.4 million, $42.1 million and $37.3 million for the years ended December 31, 2020, 2019 and 2018, respectively, most of which relates to development projects. The Company capitalizes leasing costs associated with the lease-up of development communities and amortizes the costs over the life of the leases. The amounts capitalized are immaterial for all periods presented.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company values its financial instruments based on the fair value hierarchy of valuation techniques described in the FASB’s accounting standard for fair value measurements. Level 1 inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 inputs include quoted prices for similar assets and liabilities in active markets and inputs other than quoted prices observable for the asset or liability. Level 3 inputs are unobservable inputs for the asset or liability. The Company uses Level 1 inputs for the fair values of its cash equivalents and its marketable securities except for unsecured bonds and mortgage backed securities. The Company uses Level 2 inputs for its investments in unsecured debt, notes receivable, notes payable, and derivative assets/liabilities. These inputs include interest rates for similar financial instruments. The Company’s valuation methodology for derivatives is described in Note 9. The Company uses Level 3 inputs to estimate the fair value of its mortgage backed securities. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Management believes that the carrying amounts of the outstanding balances under its lines of credit, and notes and other receivables approximate fair value as of December 31, 2020 and 2019, because interest rates, yields and other terms for these instruments are consistent with interest rates, yields and other terms currently available for similar instruments. Management has estimated that the fair value of fixed rate debt with a carrying value of $5.5 billion and $5.2 billion at December 31, 2020 and 2019, respectively, to be $6.0 billion and $5.4 billion at December 31, 2020 and 2019, respectively. Management has estimated the fair value of the Company’s $775.1 million and $660.4 million of variable rate debt at December 31, 2020 and 2019, respectively, to be $770.1 million and $655.8 million at December 31, 2020 and 2019, respectively, based on the terms of existing mortgage notes payable, unsecured debt, and variable rate demand notes compared to those available in the marketplace. Management believes that the carrying amounts of cash and cash equivalents, restricted cash, accounts payable and accrued liabilities, construction payables, other liabilities and dividends payable approximate fair value as of December 31, 2020 and 2019 due to the short-term maturity of these instruments. Marketable securities, except mortgage backed securities, are carried at fair value as of December 31, 2020 and 2019. At December 31, 2020 and 2019, the Company’s investments in mortgage backed securities had a carrying value of zero and $72.7 million, respectively. In November 2019, the Company received cash proceeds of $83.1 million from the maturity of an
Interest Rate Protection, Swap, and Forward Contracts	Interest Rate Protection, Swap, and Forward Contracts The Company uses interest rate swaps, interest rate caps, and total return swap contracts to manage interest rate risks. The Company’s objective in using derivatives is to add stability to interest expense and to manage its exposure to interest rate movements or other identified risks. To accomplish this objective, the Company uses interest rate swaps as part of its cash flow hedging strategy. The Company records all derivatives on its consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative and the resulting designation. Derivatives used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives used to hedge the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. For derivatives designated for accounting purposes as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. For derivatives designated for accounting purposes as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (outside of earnings) and subsequently reclassified to earnings when the hedged transaction affects earnings, and the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. The Company assesses the initial and ongoing effectiveness of each hedging relationship by comparing the changes in fair value or cash flows of the derivative hedging instrument with the changes in fair value or cash flows of the designated hedged item or transaction. For derivatives not designated for accounting purposes as cash flow hedges, changes in fair value are recognized in earnings. All of the Company’s interest rate swaps are considered cash flow hedges.
Income Taxes	Income Taxes Generally in any year in which Essex qualifies as a real estate investment trust ("REIT") under the Internal Revenue Code (the "IRC"), it is not subject to federal income tax on that portion of its income that it distributes to stockholders. No provision for federal income taxes, other than the taxable REIT subsidiaries discussed below, has been made in the accompanying consolidated financial statements for each of the years in the three-year period ended December 31, 2020 as Essex has elected to be and believes it qualifies under the IRC as a REIT and has made distributions during the periods in amounts to preclude Essex from paying federal income tax. In order to maintain compliance with REIT tax rules, the Company utilizes taxable REIT subsidiaries for various revenue generating or investment activities. The taxable REIT subsidiaries are consolidated by the Company. In general, the activities and tax related provisions, assets and liabilities are not material. As a partnership, the Operating Partnership is not subject to federal or state income taxes, except that in order to maintain Essex's compliance with REIT tax rules that are applicable to Essex, the Operating Partnership utilizes taxable REIT subsidiaries for various revenue generating or investment activities. The taxable REIT subsidiaries are consolidated by the Operating Partnership.
Equity-based Compensation	Equity-based CompensationThe cost of share- and unit-based compensation awards is measured at the grant date based on the estimated fair value of the awards. The estimated fair value of stock options and restricted stock granted by the Company are being amortized over the vesting period. The estimated grant date fair values of the long-term incentive plan units (discussed in Note 14) are being amortized over the expected service periods.
Changes in Accumulated Other Comprehensive Loss, by Component	Amounts reclassified from accumulated other comprehensive loss in connection with derivatives are recorded in interest expense on the consolidated statements of income. Realized gains and losses on available for sale debt securities are included in interest and other income on the consolidated statements of income.
Accounting Estimates	Accounting EstimatesThe preparation of consolidated financial statements, in accordance with U.S. GAAP, requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates, including those related to acquiring, developing and assessing the carrying values of its real estate portfolio, its investments in and advances to joint ventures and affiliates, and its notes receivable. The Company bases its estimates on historical experience, current market conditions, and on various other assumptions that are believed to be reasonable under the circumstances. Actual results may vary from those estimates and those estimates could be different under different assumptions or conditions.
Variable Interest Entities	Variable Interest Entities In accordance with accounting standards for consolidation of VIEs, the Company consolidates the Operating Partnership, 17 DownREIT entities (comprising nine communities), and five co-investments as of December 31, 2020. As of December 31, 2019, the Company consolidated the Operating Partnership, 17 DownREIT entities (comprising nine communities), and six co-investments. The Company consolidates these entities because it is deemed the primary beneficiary. The Company has no assets or liabilities other than its investment in the Operating Partnership. The consolidated total assets and liabilities related to the above consolidated co-investments and DownREIT entities, net of intercompany eliminations, were approximately $898.5 million and $326.8 million, respectively, as of December 31, 2020, and $1.0 billion and $364.3 million, respectively, as of December 31, 2019. Noncontrolling interests in these entities were $120.8 million and $122.5 million as of December 31, 2020 and 2019, respectively. The Company's financial risk in each VIE is limited to its equity investment in the VIE. The DownREIT VIEs collectively own nine apartment communities in which the Company is the general partner or manager of the DownREIT entity, the Operating Partnership is a special limited partner or member, and the other limited partners or members were granted rights of redemption for their interests. Such limited partners or members can request to be redeemed and the Company, subject to certain restrictions, can elect to redeem their rights for cash or by issuing shares of its common stock on a one share per unit basis. Conversion values will be based on the market value of the Company's common stock at the time of redemption multiplied by the number of units stipulated under various arrangements, as noted above. The other limited partners or members receive distributions based on the Company's current dividend rate times the number of units held. Total DownREIT units outstanding were 1,017,460 and 1,033,907 as of December 31, 2020 and 2019, respectively, and the redemption value of the units, based on the closing price of the Company’s common stock totaled approximately $241.6 million and $311.1 million, as of December 31, 2020 and 2019, respectively. The carrying value of redeemable noncontrolling interest in the accompanying balance sheets was $32.2 million and $37.4 million as of December 31, 2020 and 2019, respectively. Of these amounts, $11.9 million and $13.0 million as of December 31, 2020 and 2019, respectively, represent units of limited partners' or members' interests in DownREIT VIEs as to which it is outside of the Company’s control to redeem the DownREIT units with Company common stock and may potentially be redeemed for cash, and are presented at either their redemption value or historical cost, depending on the limited partner's or members' right to redeem their units as of the balance sheet date. The carrying value of DownREIT units as to which it is within the control of the Company to redeem the units with its common stock was $97.4 million and $97.7 million as of December 31, 2020 and 2019, respectively, and is classified within noncontrolling interests in the accompanying consolidated balance sheets. Interest holders in VIEs consolidated by the Company are allocated a priority of net income equal to the cash payments made to those interest holders or distributions from cash flow. The remaining results of operations are generally allocated to the Company.

Summary of Critical and Signi_3

Summary of Critical and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Summary of Critical and Significant Accounting Policies [Abstract]
Summary of Depreciable Life of Various Categories of Fixed Assets	The depreciable life of various categories of fixed assets is as follows: Computer software and equipment 3 - 5 years Interior apartment home improvements 5 years Furniture, fixtures and equipment 5 - 10 years Land improvements and certain exterior components of real property 10 years Real estate structures 30 years
Schedule of Cash and Cash Equivalents Reconciliation	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows ($ in thousands): 2020 2019 2018 Cash and cash equivalents - unrestricted $ 73,629 $ 70,087 $ 134,465 Cash and cash equivalents - restricted 10,412 11,007 16,930 Total unrestricted and restricted cash and cash equivalents shown in the consolidated statements of cash flows $ 84,041 $ 81,094 $ 151,395
Schedule of Restricted Cash Reconciliation	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows ($ in thousands): 2020 2019 2018 Cash and cash equivalents - unrestricted $ 73,629 $ 70,087 $ 134,465 Cash and cash equivalents - restricted 10,412 11,007 16,930 Total unrestricted and restricted cash and cash equivalents shown in the consolidated statements of cash flows $ 84,041 $ 81,094 $ 151,395
Components of Marketable Securities	As of December 31, 2020 and 2019, marketable securities consist of the following ($ in thousands): December 31, 2020 Amortized Gross Carrying Allowance for Credit Losses Equity securities: Investment funds - debt securities $ 49,646 $ 985 $ 50,631 $ — Common stock and stock funds 81,074 15,001 96,075 — Debt securities: Available for sale Investment-grade unsecured debt 1,050 12 1,062 — Total - Marketable securities $ 131,770 $ 15,998 $ 147,768 $ — December 31, 2019 Amortized Gross Carrying Equity securities: Investment funds - debt securities $ 29,588 $ 544 $ 30,132 Common stock and stock funds 34,941 2,927 37,868 Debt securities: Available for sale U.S. Treasury securities 2,421 13 2,434 Investment-grade unsecured debt 1,048 60 1,108 Held to maturity: Mortgage backed securities 72,651 — 72,651 Total - Marketable securities $ 140,649 $ 3,544 $ 144,193
Schedule of Allowance For Credit Losses	The following table presents the allowance for credit losses rollforward for the mortgage backed security ($ in thousands): Balance at December 31, 2019 $ — Impact of adoption ASC 326 (1) 13,644 Reversal of provision for credit losses (13,644) Balance at December 31, 2020 $ — (1) As part of the adoption of ASC 326, effective January 1, 2020, the Company recorded a gross up of the mortgage backed security and related allowance for credit losses of $13.6 million. The allowance was reversed upon maturity of the mortgage backed security in December 2020. The Company recorded $11.8 million of accelerated interest income related to this maturity. The following table presents the activity in the allowance for credit losses for notes and other receivables by loan type ($ in thousands): Mezzanine Loans Bridge Loans Total Balance at December 31, 2019 $ — $ — $ — Impact of adoption ASC 326 147 43 190 Provision for credit losses 604 (43) 561 Balance at December 31, 2020 $ 751 $ — $ 751
Summary of Status of Cash Dividends Distributed	The status of cash dividends distributed for the years ended December 31, 2020, 2019, and 2018 related to common stock are classified for tax purposes as follows: 2020 2019 2018 Common Stock Ordinary income 85.23 % 83.81 % 79.72 % Capital gain 10.68 % 13.78 % 15.35 % Unrecaptured section 1250 capital gain 4.09 % 2.41 % 4.93 % 100.00 % 100.00 % 100.00 %
Changes in Accumulated Other Comprehensive Income (Loss), Net by Component	Changes in Accumulated Other Comprehensive Loss, Net, by Component Essex Property Trust, Inc. ($ in thousands) Change in fair Unrealized Total Balance at December 31, 2019 $ (13,989) $ 101 $ (13,888) Other comprehensive income before reclassification 4,274 (59) 4,215 Amounts reclassified from accumulated other comprehensive loss (5,056) — (5,056) Other comprehensive loss (782) (59) (841) Balance at December 31, 2020 $ (14,771) $ 42 $ (14,729)
Changes in the Redemption Value of Redeemable Noncontrolling Interests	The changes in the redemption value of redeemable noncontrolling interests for the years ended December 31, 2020, 2019, and 2018 are as follows: 2020 2019 2018 Balance at January 1, $ 37,410 $ 35,475 $ 39,206 Reclassifications due to change in redemption value and other (4,299) 2,008 1,164 Redemptions (872) (73) (4,895) Balance at December 31, $ 32,239 $ 37,410 $ 35,475
Essex Portfolio, L.P.
Summary of Critical and Significant Accounting Policies [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss), Net by Component	Changes in Accumulated Other Comprehensive Loss, by Component Essex Portfolio, L.P. ($ in thousands) Change in fair Unrealized Total Balance at December 31, 2019 $ (10,536) $ 104 $ (10,432) Other comprehensive income before reclassification 4,424 (61) 4,363 Amounts reclassified from accumulated other comprehensive loss (5,234) — (5,234) Other comprehensive loss (810) (61) (871) Balance at December 31, 2020 $ (11,346) $ 43 $ (11,303)

Real Estate Investments (Tables

Real Estate Investments (Tables)	12 Months Ended
Real Estate Investments (Tables)	Dec. 31, 2020
Real Estate Investments, Net [Abstract]
Schedule of Real Estate Properties	The table below summarizes acquisition activity for the year ended December 31, 2020 ($ in millions): Property Name Location Apartment Homes Essex Ownership Percentage Quarter in 2020 Purchase Price CPPIB Portfolio Various 2,020 100 % Q1 $ 463.4 Total 2020 2,020 $ 463.4
Summary of Co-Investment	The carrying values of the Company’s co-investments as of December 31, 2020 and 2019 are as follows ($ in thousands, except in parenthetical): Weighted Average Essex Ownership December 31, Percentage (1) 2020 2019 Ownership interest in: CPPIB (2) — % $ — $ 345,466 Wesco I, Wesco III, Wesco IV, and Wesco V 51 % 178,322 216,756 BEXAEW, BEX II, BEX III, and BEX IV 50 % 152,309 160,888 Other 47 % 27,635 20,351 Total operating and other co-investments, net 358,266 743,461 Total predevelopment and development co-investments 50 % 157,433 146,944 Total preferred interest co-investments (includes related party investments of $81.4 million and $73.2 million as of December 31, 2020 and December 31, 2019, respectively - Note 6 - Related Party Transactions for further discussion) 502,311 444,934 Total co-investments, net $ 1,018,010 $ 1,335,339 (1) Weighted average Company ownership percentages are as of December 31, 2020. (2) In January 2020, the Company purchased CPPIB's 45.0% interest in each of a land parcel and six communities totaling 2,020 apartment homes.
Summarized Financial Statement for Co-Investment Accounted for Under the Equity Method	The combined summarized financial information of co-investments is as follows ($ in thousands): December 31, 2020 2019 Combined balance sheets: (1) Rental properties and real estate under development $ 4,242,611 $ 4,733,762 Other assets 200,777 139,562 Total assets $ 4,443,388 $ 4,873,324 Debt $ 2,611,365 $ 2,442,213 Other liabilities 189,515 117,160 Equity 1,642,508 2,313,951 Total liabilities and equity $ 4,443,388 $ 4,873,324 Company's share of equity $ 1,018,010 $ 1,335,339 Years ended 2020 2019 2018 Combined statements of income: (1) Property revenues $ 300,624 $ 336,922 $ 332,164 Property operating expenses (108,682) (115,658) (107,584) Net operating income 191,942 221,264 224,580 Gain on sale of real estate — 112,918 24,218 Interest expense (78,962) (65,665) (63,913) General and administrative (17,079) (9,575) (6,379) Depreciation and amortization (117,836) (121,006) (126,485) Net income $ (21,935) $ 137,936 $ 52,021 Company's share of net income (2) $ 66,512 $ 112,136 $ 89,132 (1) Includes preferred equity investments held by the Company. (2) Includes the Company's share of equity income from joint ventures and preferred equity investments, gain on sales of co-investments, co-investment promote income and income from early redemption of preferred equity investments. Includes related party income of $8.6 million, $7.5 million, and $2.0 million for the years ended December 31, 2020, 2019, and 2018, respectively.

Revenues (Tables)

Revenues (Tables)	12 Months Ended
Revenues (Tables)	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by revenue source ($ in thousands): 2020 2019 2018 Rental income (1) $ 1,462,161 $ 1,425,585 $ 1,366,590 Other property (1) 23,989 25,043 24,280 Management and other fees from affiliates 9,598 9,527 9,183 Total revenues $ 1,495,748 $ 1,460,155 $ 1,400,053 (1) On January 1, 2019, the Company adopted ASU No. 2016-02 and ASU No. 2018-11. As a result of this adoption, certain amounts previously classified as other property revenue have been reclassified to rental income. Prior period amounts have been adjusted to conform to the current period's presentation. The following table presents the Company’s rental and other property revenues disaggregated by geographic operating segment ($ in thousands): 2020 2019 2018 Southern California $ 570,673 $ 597,330 $ 579,533 Northern California 610,867 557,139 520,117 Seattle Metro 243,900 243,060 234,138 Other real estate assets (1) 60,710 53,099 57,082 Total rental and other property revenues $ 1,486,150 $ 1,450,628 $ 1,390,870 (1) Other real estate assets consist of revenue 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 ($ in thousands): 2020 2019 2018 Same-property (1) $ 1,286,686 $ 1,338,690 $ 1,288,771 Acquisitions (2) 78,666 7,704 — Development (3) 20,050 7,675 2,741 Redevelopment 19,054 21,058 20,413 Non-residential/other, net (4) 59,838 75,501 78,945 Straight line rent concession (5) 21,856 — — Total rental and other property revenues $ 1,486,150 $ 1,450,628 $ 1,390,870 (1) Properties that have comparable stabilized results as of January 1, 2019 and are consolidated by the Company for the years ended December 31, 2020, 2019, and 2018. A community is generally considered to have reach 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, 2019. (3) Development includes properties developed which did not have stabilized results as of January 1, 2019. (4) Non-residential/other, net consists of revenue 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 three communities located in the California counties of Riverside, Santa Barbara, and Santa Cruz, which the Company does not consider its core markets. (5) 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.

Notes and Other Receivables (Ta

Notes and Other Receivables (Tables)	12 Months Ended
Notes and Other Receivables (Tables)	Dec. 31, 2020
Notes and Other Receivables [Abstract]
Notes and other receivables	Notes and other receivables consist of the following as of December 31, 2020 and 2019 ($ in thousands): 2020 2019 Note receivable, secured, bearing interest at 9.00% due May 2021 (Originated May 2017) (1) $ — $ 16,828 Note receivable, secured, bearing interest at 9.90%, due November 2021 (Originated November 2018) 14,216 12,838 Related party note receivable, secured, bearing variable rate interest, due February 2020 (Originated November 2019) (2)(3) — 85,713 Notes receivable, secured, bearing interest at 10.50%, due February 2023 (Originated March 2020) 15,299 — Note receivable, secured, bearing interest at 11.00%, due October 2023 (Originated April 2020) 25,461 — Note receivable, secured, bearing interest at 9.00%, due December 2023 (Originated November 2020) 79,827 — Note receivable, secured, bearing interest at 11.50%, due November 2024 (Originated November 2020) 15,423 — Notes and other receivables from affiliates (4) 4,744 4,442 Straight line rent receivables (5) 25,214 6,083 Other receivables 15,671 8,461 Allowance for credit losses (751) — Total notes and other receivables $ 195,104 $ 134,365 (1) In January 2020, the Company received cash of $16.9 million from the payoff of this note receivable. (2) See Note 6, Related Party Transactions, for additional details. (3) In January 2020, the Company received cash of $85.8 million from the payoff of this note receivable. (4) These amounts consist of short-term loans outstanding and due from various joint ventures as of December 31, 2020 and 2019, respectively. See Note 6, Related Party Transactions, for additional details. (5) These amounts are receivables from lease concessions recorded on a straight-line basis for the Company's operating properties.
Schedule of Allowance For Credit Losses	The following table presents the allowance for credit losses rollforward for the mortgage backed security ($ in thousands): Balance at December 31, 2019 $ — Impact of adoption ASC 326 (1) 13,644 Reversal of provision for credit losses (13,644) Balance at December 31, 2020 $ — (1) As part of the adoption of ASC 326, effective January 1, 2020, the Company recorded a gross up of the mortgage backed security and related allowance for credit losses of $13.6 million. The allowance was reversed upon maturity of the mortgage backed security in December 2020. The Company recorded $11.8 million of accelerated interest income related to this maturity. The following table presents the activity in the allowance for credit losses for notes and other receivables by loan type ($ in thousands): Mezzanine Loans Bridge Loans Total Balance at December 31, 2019 $ — $ — $ — Impact of adoption ASC 326 147 43 190 Provision for credit losses 604 (43) 561 Balance at December 31, 2020 $ 751 $ — $ 751

Unsecured Debt (Tables)

Unsecured Debt (Tables)	12 Months Ended
Unsecured Debt (Tables)	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Unsecured Debt	Unsecured debt consists of the following as of December 31, 2020 and 2019 ($ in thousands): 2020 2019 Weighted Average Unsecured bonds private placement - fixed rate $ 199,950 $ 199,820 0.5 Term loan - variable rate 549,380 349,189 1.5 Bonds public offering - fixed rate 4,858,655 4,214,197 9.4 Unsecured debt, net (1) 5,607,985 4,763,206 Lines of credit (2) — 55,000 Total unsecured debt $ 5,607,985 $ 4,818,206 Weighted average interest rate on fixed rate unsecured bonds private placement and bonds public offering 3.4 % 3.8 % Weighted average interest rate on variable rate term loan 1.7 % 2.7 % Weighted average interest rate on lines of credit 1.0 % 2.5 % (1) Includes unamortized discount, net of premiums, of $10.1 million and $12.2 million and unamortized debt issuance costs of $31.9 million and $24.5 million as of December 31, 2020 and 2019, respectively. (2) Lines of credit, related to the Company's two lines of unsecured credit aggregating $1.24 billion, excludes unamortized debt issuance costs of $3.7 million and $3.8 million as of December 31, 2020 and 2019, respectively. These debt issuance costs are included in prepaid expenses and other assets on the consolidated balance sheets.
Summary of Unsecured Private Placement Bonds	The following is a summary of the Company’s unsecured private placement bonds as of December 31, 2020 and 2019 ($ in thousands): Maturity 2020 2019 Coupon Senior unsecured private placement notes April 2021 100,000 100,000 4.27 % Senior unsecured private placement notes June 2021 50,000 50,000 4.30 % Senior unsecured private placement notes August 2021 50,000 50,000 4.37 % $ 200,000 $ 200,000
Summary of Senior Unsecured Notes	The following is a summary of the Company’s senior unsecured notes as of December 31, 2020 and 2019 ($ in thousands): Maturity 2020 2019 Coupon Senior notes March 2021 $ — $ 300,000 5.200 % Senior notes August 2022 — 300,000 3.625 % Senior notes January 2023 300,000 300,000 3.375 % Senior notes May 2023 300,000 300,000 3.250 % Senior notes May 2024 400,000 400,000 3.875 % Senior notes April 2025 500,000 500,000 3.500 % Senior notes April 2026 450,000 450,000 3.375 % Senior notes May 2027 350,000 350,000 3.625 % Senior notes March 2029 500,000 500,000 4.000 % Senior notes January 2030 550,000 550,000 3.000 % Senior notes January 2031 300,000 — 1.650 % Senior notes March 2032 650,000 — 2.650 % Senior notes March 2048 300,000 300,000 4.500 % Senior notes September 2050 300,000 — 2.650 % $ 4,900,000 $ 4,250,000 2020 2019 Fixed rate mortgage notes payable $ 419,323 $ 736,490 Variable rate mortgage notes payable (1) 224,227 254,177 Total mortgage notes payable (2) $ 643,550 $ 990,667 Number of properties securing mortgage notes 12 24 Remaining terms 1-26 years 1-27 years Weighted average interest rate 2.7 % 4.1 %
Schedule of Unsecured Debt Principal Payments Excluding Lines of Credit	The aggregate scheduled principal payments of unsecured debt payable, excluding lines of credit, at December 31, 2020 are as follows ($ in thousands): 2021 $ — 2022 — 2023 600,000 2024 400,000 2025 500,000 Thereafter 3,400,000 $ 4,900,000 The aggregate scheduled principal payments of mortgage notes payable at December 31, 2020 are as follows ($ in thousands): 2021 $ 3,501 2022 43,188 2023 2,945 2024 3,109 2025 133,054 Thereafter 455,629 $ 641,426 (1) Variable rate mortgage notes payable, including $225.1 million in bonds that have been converted to variable rate through total return swap contracts, consists of multifamily housing mortgage revenue bonds secured by deeds of trust on rental properties and guaranteed by collateral pledge agreements, payable monthly at a variable rate as defined in the Loan Agreement (approximately 1.2% at December 2020 and 2.3% at December 2019) including credit enhancement and underwriting fees. Among the terms imposed on the properties, which are security for the bonds, is a requirement that 20% of the apartment homes are subject to tenant income criteria. Once the bonds have been repaid, the properties may no longer be obligated to comply with such tenant income criteria. Principal balances are due in full at various maturity dates from December 2027 through December 2046. The Company had no interest rate cap agreements as of December 31, 2020 and 2019, respectively. (2) Includes total unamortized premium, net of discounts, of $3.9 million and $5.9 million and reduced by unamortized debt issuance costs of $1.8 million and $2.6 million as of December 31, 2020 and 2019, respectively.

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	12 Months Ended
Mortgage Notes Payable (Tables)	Dec. 31, 2020
Notes Payable [Abstract]
Summary of Mortgages Notes Payable	The following is a summary of the Company’s senior unsecured notes as of December 31, 2020 and 2019 ($ in thousands): Maturity 2020 2019 Coupon Senior notes March 2021 $ — $ 300,000 5.200 % Senior notes August 2022 — 300,000 3.625 % Senior notes January 2023 300,000 300,000 3.375 % Senior notes May 2023 300,000 300,000 3.250 % Senior notes May 2024 400,000 400,000 3.875 % Senior notes April 2025 500,000 500,000 3.500 % Senior notes April 2026 450,000 450,000 3.375 % Senior notes May 2027 350,000 350,000 3.625 % Senior notes March 2029 500,000 500,000 4.000 % Senior notes January 2030 550,000 550,000 3.000 % Senior notes January 2031 300,000 — 1.650 % Senior notes March 2032 650,000 — 2.650 % Senior notes March 2048 300,000 300,000 4.500 % Senior notes September 2050 300,000 — 2.650 % $ 4,900,000 $ 4,250,000 2020 2019 Fixed rate mortgage notes payable $ 419,323 $ 736,490 Variable rate mortgage notes payable (1) 224,227 254,177 Total mortgage notes payable (2) $ 643,550 $ 990,667 Number of properties securing mortgage notes 12 24 Remaining terms 1-26 years 1-27 years Weighted average interest rate 2.7 % 4.1 %
Aggregate Scheduled Principal Payments of Mortgage Notes Payable	The aggregate scheduled principal payments of unsecured debt payable, excluding lines of credit, at December 31, 2020 are as follows ($ in thousands): 2021 $ — 2022 — 2023 600,000 2024 400,000 2025 500,000 Thereafter 3,400,000 $ 4,900,000 The aggregate scheduled principal payments of mortgage notes payable at December 31, 2020 are as follows ($ in thousands): 2021 $ 3,501 2022 43,188 2023 2,945 2024 3,109 2025 133,054 Thereafter 455,629 $ 641,426 (1) Variable rate mortgage notes payable, including $225.1 million in bonds that have been converted to variable rate through total return swap contracts, consists of multifamily housing mortgage revenue bonds secured by deeds of trust on rental properties and guaranteed by collateral pledge agreements, payable monthly at a variable rate as defined in the Loan Agreement (approximately 1.2% at December 2020 and 2.3% at December 2019) including credit enhancement and underwriting fees. Among the terms imposed on the properties, which are security for the bonds, is a requirement that 20% of the apartment homes are subject to tenant income criteria. Once the bonds have been repaid, the properties may no longer be obligated to comply with such tenant income criteria. Principal balances are due in full at various maturity dates from December 2027 through December 2046. The Company had no interest rate cap agreements as of December 31, 2020 and 2019, respectively. (2) Includes total unamortized premium, net of discounts, of $3.9 million and $5.9 million and reduced by unamortized debt issuance costs of $1.8 million and $2.6 million as of December 31, 2020 and 2019, respectively.

Lease Agreements - Company as_3

Lease Agreements - Company as Lessor (Tables)	12 Months Ended
Lease Agreements - Company as Lessor (Tables)	Dec. 31, 2020
Leases [Abstract]
Summary of Lessor Future Minimum Base Rent	A maturity analysis of undiscounted future minimum non-cancelable base rent to be received under the above operating leases as of December 31, 2020 is summarized as follows ($ in thousands): Future Minimum Rent 2021 $ 720,570 2022 34,240 2023 14,971 2024 13,619 2025 11,265 Thereafter 24,855 $ 819,520

Lease Agreements - Company as_4

Lease Agreements - Company as Lessee (Tables)	12 Months Ended
Lease Agreements - Company as Lessee (Tables)	Dec. 31, 2020
Leases [Abstract]
Schedule of Balance Sheet Information Related to Leases	Supplemental consolidated balance sheet information related to leases as of December 31, 2020 and 2019 is as follows ($ in thousands): Classification December 31, 2020 December 31, 2019 Assets Operating lease right-of-use assets Operating lease right-of-use assets $ 72,143 $ 74,744 Total leased assets $ 72,143 $ 74,744 Liabilities Operating lease liabilities Operating lease liabilities 74,037 76,740 Total lease liabilities $ 74,037 $ 76,740
Schedule of Components of Lease Expense/Discount Rate Information	The components of lease expense for the years ended December 31, 2020 and 2019 were as follows ($ in thousands): December 31, 2020 December 31, 2019 Operating lease cost $ 6,749 $ 6,745 Variable lease cost 1,436 783 Short-term lease cost 432 610 Sublease income (438) (436) Total lease cost $ 8,179 $ 7,702 Lease term and discount rate information for leases at December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 Weighted-average of remaining lease terms (years) Operating Leases 39 39 Weighted-average of discount rates Operating Leases 5.00 % 4.99 %
Schedule of Maturity Analysis of Operating Lease Liabilities	A maturity analysis of lease liabilities as of December 31, 2020 is as follows ($ in thousands): Operating Leases 2021 $ 6,963 2022 6,987 2023 6,962 2024 6,690 2025 6,310 Thereafter 140,417 Total lease payments $ 174,329 Less: Imputed interest (100,292) Present value of lease liabilities $ 74,037

Net Income Per Common Share a_2

Net Income Per Common Share and Net Income Per Common Unit (Tables)	12 Months Ended
	Dec. 31, 2020
Net Income Per Share and Net Income Per Unit [Line Items]
Schedule of Net Income Per Common Share and Net Income Per Unit	Basic and diluted income per share is calculated as follows for the years ended December 31 ($ in thousands, except share and per share amounts): 2020 2019 2018 Income Weighted- Per Income Weighted- Per Income Weighted- Per Basic: Net income available to common stockholders $ 568,870 65,454,057 $ 8.69 $ 439,286 65,840,422 $ 6.67 $ 390,153 66,041,058 $ 5.91 Effect of Dilutive Securities Stock options — 16,678 — 99,033 — 44,031 DownREIT units 783 94,247 — — — — Diluted: Net income available to common stockholders $ 569,653 65,564,982 $ 8.69 $ 439,286 65,939,455 $ 6.66 $ 390,153 66,085,089 $ 5.90
Essex Portfolio, L.P.
Net Income Per Share and Net Income Per Unit [Line Items]
Schedule of Net Income Per Common Share and Net Income Per Unit	Basic and diluted income per unit is calculated as follows for the years ended December 31 ($ in thousands, except unit and per unit amounts): 2020 2019 2018 Income Weighted- Per Income Weighted- Per Income Weighted- Per Basic: Net income available to common unitholders $ 588,782 67,750,665 $ 8.69 $ 454,629 68,140,900 $ 6.67 $ 403,605 68,315,999 $ 5.91 Effect of Dilutive Securities Stock options — 16,678 — 99,033 — 44,031 DownREIT units 783 94,247 — — — — Diluted: Net income available to common unitholders $ 589,565 67,861,590 $ 8.69 $ 454,629 68,239,933 $ 6.66 $ 403,605 68,360,030 $ 5.90

Equity Based Compensation Pla_2

Equity Based Compensation Plans (Tables)	12 Months Ended
Equity Based Compensation Plans (Tables)	Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Weighted Average Assumptions Used to Estimate Fair Value of Stock Options	The fair value of stock options was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions used for grants: 2020 2019 2018 Stock price $ 244.74 $ 304.85 $ 262.09 Risk-free interest rates 0.83 % 2.01 % 2.76 % Expected lives 6 years 6 years 6 years Volatility 25.72 % 19.56 % 24.89 % Dividend yield 2.93 % 2.72 % 2.81 %
Summary of Stock Options Activity	A summary of the status of the Company’s stock option plans as of December 31, 2020, 2019, and 2018 and changes during the years ended on those dates is presented below: 2020 2019 2018 Shares Weighted- Shares Weighted- Shares Weighted- Outstanding at beginning of year 572,971 $ 251.10 612,954 $ 224.57 536,208 $ 211.41 Granted 149,020 244.74 148,147 304.85 119,361 262.09 Exercised (70,802) 208.57 (182,817) 205.25 (39,175) 159.05 Forfeited and canceled (38,080) 228.64 (5,313) 257.87 (3,440) 221.80 Outstanding at end of year 613,109 255.86 572,971 251.10 612,954 224.57 Options exercisable at year end 361,985 245.83 305,379 223.90 322,837 206.63
Summary of Restricted Stock Activity	The following table summarizes information about restricted stock outstanding as of December 31, 2020, 2019 and 2018 and changes during the years ended: 2020 2019 2018 Shares Weighted- Shares Weighted- Shares Weighted- Unvested at beginning of year 114,877 $ 197.62 91,058 $ 180.99 90,823 $ 163.49 Granted 45,196 248.16 41,643 235.93 51,945 194.70 Vested (15,116) 170.61 (13,222) 143.56 (48,212) 150.76 Forfeited and canceled (12,354) 184.11 (4,602) 158.06 (3,498) 158.71 Unvested at end of year 132,603 214.34 114,877 197.62 91,058 180.99
Summary of Long Term Incentive Plan - Z Units	The following table summarizes information about the LTIP Units outstanding as of December 31, 2020: Long-Term Incentive Plan - LTIP Units Total Total Total Weighted- Weighted- Balance, December 31, 2017 213,300 23,212 236,512 $ 75.03 7.5 Granted — — — Vested 12,051 (12,051) — Converted (91,270) — (91,270) Cancelled — — — Balance, December 31, 2018 134,081 11,161 145,242 $ 75.03 6.5 Granted — — — Vested 9,176 (9,176) — Converted — — — Cancelled — (95) (95) Balance, December 31, 2019 143,257 1,890 145,147 $ 75.03 5.2 Granted — — — Vested 1,890 (1,890) — Converted (39,010) — (39,010) Cancelled — — — Balance, December 31, 2020 106,137 — 106,137 $ 84.47 3.6

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
Segment Information (Tables)	Dec. 31, 2020
Segment Reporting [Abstract]
Summary of Reportable Operating Segments of Revenue and NOI	The revenues and NOI for each of the reportable operating segments are summarized as follows for the years ended December 31, 2020, 2019, and 2018 ($ in thousands): Years Ended December 31, 2020 2019 2018 Revenues: Southern California $ 570,673 $ 597,330 $ 579,533 Northern California 610,867 557,139 520,117 Seattle Metro 243,900 243,060 234,138 Other real estate assets 60,710 53,099 57,082 Total property revenues $ 1,486,150 $ 1,450,628 $ 1,390,870 Net operating income: Southern California $ 393,776 $ 425,882 $ 412,517 Northern California 435,403 412,706 384,548 Seattle Metro 166,847 172,601 163,927 Other real estate assets 49,724 42,912 45,537 Total net operating income 1,045,750 1,054,101 1,006,529 Management and other fees from affiliates 9,598 9,527 9,183 Corporate-level property management expenses (34,573) (34,067) (32,055) Depreciation and amortization (525,497) (483,750) (479,884) General and administrative (65,388) (54,262) (53,451) Expensed acquisition and investment related costs (1,591) (168) (194) Impairment loss (1,825) (7,105) — Gain (loss) on sale of real estate and land 64,967 (3,164) 61,861 Interest expense (220,633) (217,339) (220,492) Total return swap income 10,733 8,446 8,707 Interest and other income 40,999 46,298 23,010 Equity income from co-investments 66,512 112,136 89,132 Deferred tax expense on unrealized gain on unconsolidated co-investment (1,531) (1,457) — (Loss) Gain on early retirement of debt, net (22,883) 3,717 — Gain on remeasurement of co-investment 234,694 31,535 1,253 Net income $ 599,332 $ 464,448 $ 413,599
Summary of Total Assets from Reportable Operating Segments	Total assets for each of the reportable operating segments are summarized as follows as of December 31, 2020 and 2019 ($ in thousands): As of December 31, 2020 2019 Assets: Southern California $ 3,993,275 $ 4,139,104 Northern California 5,520,019 4,408,404 Seattle Metro 1,403,678 1,456,187 Other real estate assets 10,814 344,965 Net reportable operating segments - real estate assets 10,927,786 10,348,660 Real estate under development 386,047 546,075 Co-investments 1,018,010 1,335,339 Real estate held for sale 57,938 — Cash and cash equivalents, including restricted cash 84,041 81,094 Marketable securities 147,768 144,193 Notes and other receivables 195,104 134,365 Operating lease right-of-use assets 72,143 74,744 Prepaid expenses and other assets 47,340 40,935 Total assets $ 12,936,177 $ 12,705,405

Organization (Details)

Organization (Details) $ in Millions	12 Months Ended
Organization (Details) $ in Millions	Dec. 31, 2020	Dec. 31, 2020shares	Dec. 31, 2020USD ($)	Dec. 31, 2020community	Dec. 31, 2020apartment	Dec. 31, 2020building	Dec. 31, 2020investment	Dec. 31, 2020project	Dec. 31, 2019USD ($)shares
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Limited partner - ownership percentage	3.40%								3.40%
Operating Partnership units outstanding (in shares) \| shares		2,294,760							2,301,653
Redemption value of operating partnership units outstanding \| $			$ 544.8						$ 692.5
Number of apartment communities owned				246	2
Number of apartment units owned \| apartment					60,272
Ownership interests, number of commercial buildings \| building						1
Ownership interests, number of consolidated projects \| project								3
Ownership Interests, number of unconsolidated projects \| investment							3
Operating Partnership
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
General partner ownership interest	96.60%

Summary of Critical and Signi_4

Summary of Critical and Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)communitypartnershipinvestmentshares	Dec. 31, 2019USD ($)investmentcommunitypartnershipshares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Property, Plant and Equipment [Line Items]
Noncontrolling interest in operating partnership	3.40%	3.40%
Cumulative effect upon adoption	$ 6,183,192	$ 6,403,504	$ 6,393,844	$ 6,396,825
Real Estate Rental Properties [Abstract]
Minimum threshold useful life of assets for capitalization	1 year
Depreciable life of various categories of fixed assets [Abstract]
Acquired in-place lease value, net	$ 4,700	$ 1,200
Number of communities held-for-sale \| community	2	0
Asset impairment charges	$ 1,825	$ 7,105	0
Other-than-temporary impairment		11,500
Revenues and Gains on Sale of Real Estate [Abstract]
Lease terms, minimum	9 months
Lease terms, maximum	12 months
Cash Equivalents and Restricted Cash [Abstract]
Original maturities of highly liquid investments to be classified as cash equivalents, maximum	3 months
Cash and cash equivalents - unrestricted	$ 73,629	70,087	134,465
Cash and cash equivalents - restricted	10,412	11,007	16,930
Total unrestricted and restricted cash and cash equivalents shown in the consolidated statements of cash flows	84,041	81,094	151,395	61,126
Capitalization
Capitalized internal costs related to development and redevelopment projects	31,400	42,100	37,300
Fair Value of Financial Instruments
Fixed rate debt carrying amount	5,500,000	5,200,000
Fixed rate debt fair value	6,000,000	5,400,000
Variable rate debt carrying amount	775,100	660,400
Variable rate debt fair value	770,100	655,800
Mortgage-backed-securities available-for-sale fair value	$ 0	$ 72,700
Status of cash dividends distributed
Number of DownREIT limited partnerships \| partnership	17	17
Number of communities in DownREIT Partnerships \| community	9	9
Number of consolidated co-investments that now meet the definition of a VIE \| investment	5	6
Assets related to VIE, net intercompany eliminations	$ 898,500	$ 1,000,000
Liabilities related to VIE, net intercompany eliminations	326,800	364,300
Noncontrolling interests in VIE	$ 120,800	$ 122,500
Total DownREIT units outstanding (in shares) \| shares	1,017,460	1,033,907
Redemption value of the variable interest entities	$ 241,600	$ 311,100
Redeemable noncontrolling interest	32,239	37,410	35,475	39,206
Redeemable noncontrolling interest, units of limited partners' interests in DownREIT VIEs	11,900	13,000
Noncontrolling interest in limited partnerships	97,400	97,700
Distributions in excess of accumulated earnings
Property, Plant and Equipment [Line Items]
Cumulative effect upon adoption	$ (861,193)	(887,619)	$ (812,796)	$ (833,726)
Cumulative Effect, Period of Adoption, Adjusted Balance \| Distributions in excess of accumulated earnings
Property, Plant and Equipment [Line Items]
Cumulative effect upon adoption		200
CPPIB
Depreciable life of various categories of fixed assets [Abstract]
Asset impairment charges		$ 7,100
Equity method investment, ownership percentage		45.00%
Computer Software and Equipment \| Minimum
Depreciable life of various categories of fixed assets [Abstract]
Depreciable life, average	3 years
Computer Software and Equipment \| Maximum
Depreciable life of various categories of fixed assets [Abstract]
Depreciable life, average	5 years
Interior Apartment Home Improvements
Depreciable life of various categories of fixed assets [Abstract]
Depreciable life, average	5 years
Furniture, Fixtures and Equipment \| Minimum
Depreciable life of various categories of fixed assets [Abstract]
Depreciable life, average	5 years
Furniture, Fixtures and Equipment \| Maximum
Depreciable life of various categories of fixed assets [Abstract]
Depreciable life, average	10 years
Land Improvements and Certain Exterior Components of Real Property
Depreciable life of various categories of fixed assets [Abstract]
Depreciable life, average	10 years
Real Estate Structures
Depreciable life of various categories of fixed assets [Abstract]
Depreciable life, average	30 years
Common stock
Status of cash dividends distributed
Ordinary income	85.23%	83.81%	79.72%
Capital gain	10.68%	13.78%	15.35%
Unrecaptured section 1250 capital gain	4.09%	2.41%	4.93%
Total cash dividends distributed, percentage	100.00%	100.00%	100.00%
Mortgage Backed Securities
Fair Value of Financial Instruments
Mortgage-backed-securities held-to-maturity carrying value	$ 0	$ 72,651

Summary of Critical and Signi_5

Summary of Critical and Significant Accounting Policies - Marketable Securities (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Carrying Value		$ 2,500	$ 3,600
Equity securities:
Gross Unrealized Gain		12,515	5,710	$ (5,159)
Carrying Value		2,500	3,600
Held to maturity:
Total - Marketable securities, amortized cost		131,770	140,649
Total - Marketable securities, gross unrealized gain (loss)		15,998	3,544
Total - Marketable securities, carrying value		147,768	144,193
Marketable securities, allowance for credit loss		0	0
Proceeds from maturity of mortgage backed security	$ 83,100	91,700	83,100
Accelerated interest income		11,800	7,000
Proceeds from sale and maturities of marketable securities		113,500	147,500	31,500
Marketable securities, realized gain (loss)		2,100	1,300	700
Unrealized gain (loss) on equity securities recognized through income		12,515	5,710	$ (5,159)
Interest and Other Income
Equity securities:
Gross Unrealized Gain		12,500	5,700
Held to maturity:
Unrealized gain (loss) on equity securities recognized through income		12,500	5,700
Investment Funds - Debt Securities
Marketable Securities [Line Items]
Carrying Value		50,631	30,132
Equity securities:
Amortized Cost		49,646	29,588
Gross Unrealized Gain		985	544
Carrying Value		50,631	30,132
Held to maturity:
Unrealized gain (loss) on equity securities recognized through income		985	544
Common Stock and Stock Funds
Marketable Securities [Line Items]
Carrying Value		96,075	37,868
Equity securities:
Amortized Cost		81,074	34,941
Gross Unrealized Gain		15,001	2,927
Carrying Value		96,075	37,868
Held to maturity:
Unrealized gain (loss) on equity securities recognized through income		15,001	2,927
U.S. Treasury Securities
Available for sale
Available-for-sale, amortized cost			2,421
Available-for-sale, gross unrealized gain (Loss)			13
Available-for-sale, carrying value			2,434
Investment-Grade Unsecured Debt
Available for sale
Available-for-sale, amortized cost		1,050	1,048
Available-for-sale, gross unrealized gain (Loss)		12	60
Available-for-sale, carrying value		1,062	1,108
Allowance for Credit Losses		0
Mortgage Backed Securities
Held to maturity:
Held to maturity, amortized cost			72,651
Held to maturity, gross unrealized gain (loss)			0
Held to maturity carrying value		$ 0	$ 72,651

Summary of Critical and Signi_6

Summary of Critical and Significant Accounting Policies - Allowance For Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 0
Impact of adoption ASC 326	0	$ 0
Reversal of provision for credit losses	687	0	$ 0
Ending balance	0	0
Accelerated interest income	11,800	7,000
Mortgage Backed Securities
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	0
Impact of adoption ASC 326	0	0
Reversal of provision for credit losses	(13,644)
Ending balance	$ 0	$ 0
Cumulative Effect, Period of Adoption, Adjustment \| Mortgage Backed Securities
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Impact of adoption ASC 326				$ 13,644

Summary of Critical and Signi_7

Summary of Critical and Significant Accounting Policies - AOCI (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at December 31, 2019	$ 6,220,427
Other comprehensive income before reclassification	4,215
Amounts reclassified from accumulated other comprehensive loss	(5,056)
Other comprehensive loss	(841)
Balance at December 31, 2020	6,000,410
Change in Fair Value and Amortization of Swap Agreements
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at December 31, 2019	(13,989)
Other comprehensive income before reclassification	4,274
Amounts reclassified from accumulated other comprehensive loss	(5,056)
Other comprehensive loss	(782)
Balance at December 31, 2020	(14,771)
Unrealized Gains on Available for Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at December 31, 2019	101
Other comprehensive income before reclassification	(59)
Amounts reclassified from accumulated other comprehensive loss	0
Other comprehensive loss	(59)
Balance at December 31, 2020	42
Accumulated other comprehensive loss, net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at December 31, 2019	(13,888)
Balance at December 31, 2020	(14,729)
Essex Portfolio, L.P.
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income before reclassification	4,363
Amounts reclassified from accumulated other comprehensive loss	(5,234)
Other comprehensive loss	(871)
Essex Portfolio, L.P. \| Change in Fair Value and Amortization of Swap Agreements
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at December 31, 2019	(10,536)
Other comprehensive income before reclassification	4,424
Amounts reclassified from accumulated other comprehensive loss	(5,234)
Other comprehensive loss	(810)
Balance at December 31, 2020	(11,346)
Essex Portfolio, L.P. \| Unrealized Gains on Available for Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at December 31, 2019	104
Other comprehensive income before reclassification	(61)
Amounts reclassified from accumulated other comprehensive loss	0
Other comprehensive loss	(61)
Balance at December 31, 2020	43
Essex Portfolio, L.P. \| Accumulated other comprehensive loss, net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at December 31, 2019	(10,432)
Balance at December 31, 2020	$ (11,303)

Summary of Critical and Signi_8

Summary of Critical and Significant Accounting Policies - Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Redeemable noncontrolling interest	$ 37,410	$ 35,475	$ 35,475
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at January 1,	37,410	35,475	39,206
Reclassifications due to change in redemption value and other	(4,299)	2,008	1,164
Redemptions	(872)	(73)	(4,895)
Balance at December 31,	$ 32,239	$ 37,410	$ 35,475

Real Estate Investments - Acqui

Real Estate Investments - Acquisitions (Details)	1 Months Ended		12 Months Ended
Real Estate Investments - Acquisitions (Details)	Jan. 31, 2020USD ($)communityapartment	Dec. 31, 2019USD ($)unit	Dec. 31, 2020USD ($)unit	Dec. 31, 2019USD ($)communityapartment	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Number of units acquired \| unit			2,020
Purchase Price			$ 463,400,000	$ 373,300,000
Gain on remeasurement of co-investment			234,694,000	31,535,000	$ 1,253,000
Investment in real estate			15,061,745,000
Encumbrance			643,550,000
CPPIB Interest
Schedule of Equity Method Investments [Line Items]
Investment interest acquired	45.00%
Value of property held by acquired investment	$ 1,000,000,000
Gain on remeasurement of co-investment	234,700,000
Promote income	$ 6,500,000
Land and Land Improvements
Schedule of Equity Method Investments [Line Items]
Purchase Price			189,000,000
Building and Improvements
Schedule of Equity Method Investments [Line Items]
Purchase Price			846,000,000
Prepaid Expenses and Other Assets
Schedule of Equity Method Investments [Line Items]
Purchase Price			$ 10,000,000
Hidden Valley
Schedule of Equity Method Investments [Line Items]
Purchase Price		$ 24,200,000
Limited partnership interest		25.00%
Investment in real estate		$ 97,000,000		97,000,000
Encumbrance		$ 29,700,000		$ 29,700,000
Apartment Building
Schedule of Equity Method Investments [Line Items]
Number of communities held by acquired investment \| community				4
Number of units held by acquired investment \| apartment				849
Apartment Building \| CPPIB Interest
Schedule of Equity Method Investments [Line Items]
Number of units acquired \| unit			2,020
Essex Ownership Percentage			100.00%
Purchase Price			$ 463,400,000
Number of communities held by acquired investment \| community	6
Number of units held by acquired investment \| apartment	2,020
Apartment Building \| Hidden Valley
Schedule of Equity Method Investments [Line Items]
Number of units acquired \| unit		324

Real Estate Investments - Sales

Real Estate Investments - Sales of Real Estate Investments (Details) $ in Thousands	1 Months Ended			12 Months Ended
	Oct. 31, 2020USD ($)apartment	Jul. 31, 2020USD ($)apartment	Jun. 30, 2020USD ($)apartmentcommunity	Dec. 31, 2020USD ($)apartmentcommunity	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)communityunit	Dec. 31, 2020apartment
Real Estate Properties [Line Items]
Number of apartment units \| apartment				439
Total property revenues				$ 9,598	$ 9,527	$ 9,183
Apartment communities owned (in communities)				246			2
One South Market And Museum Park
Real Estate Properties [Line Items]
Total property revenues			$ 232,000
Gain (loss) on sale of properties			$ 16,600
Delano, Redmond, WA
Real Estate Properties [Line Items]
Total property revenues		$ 51,500
Gain (loss) on sale of properties		$ 22,700
Glendale, CA
Real Estate Properties [Line Items]
Total property revenues	$ 60,000
Gain (loss) on sale of properties	$ 25,700
Apartment Building \| One South Market And Museum Park
Real Estate Properties [Line Items]
Number of units sold \| community			2
Number of apartment units \| apartment			429
Apartment Building \| Delano, Redmond, WA
Real Estate Properties [Line Items]
Number of apartment units \| apartment		126
Apartment Building \| Glendale, CA
Real Estate Properties [Line Items]
Number of apartment units \| apartment	115
Communities Sold in 2019 \| Santa Mateo, CA
Real Estate Properties [Line Items]
Gain (loss) on sale of properties					(3,200)
Communities Sold in 2019 \| Rental and Other Property \| Santa Clara, CA
Real Estate Properties [Line Items]
Total property revenues					10,800
Communities Sold in 2019 \| Rental and Other Property \| Santa Mateo, CA
Real Estate Properties [Line Items]
Total property revenues					$ 12,500
Communities Sold in 2018
Real Estate Properties [Line Items]
Number of units sold \| unit						669
Gain (loss) on sale of properties						$ 61,900
Number of communities sold \| community						2
Communities Sold in 2018 \| Rental and Other Property
Real Estate Properties [Line Items]
Total property revenues						$ 352,000

Real Estate Investments - Co-In

Real Estate Investments - Co-Investments (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2020communityapartment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)communityapartment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures		$ 1,018,010	$ 1,335,339
Membership Combined Balance Sheets [Abstract]
Rental properties and real estate under development		386,047	546,075
Total assets		12,936,177	12,705,405
Debt		6,720,746	6,264,491
Other liabilities		39,140	36,565
Equity		6,183,192	6,403,504	$ 6,393,844	$ 6,396,825
Total liabilities and equity/capital		12,936,177	12,705,405
Membership Combined Statements Of Income [Abstract]
Revenues		1,495,748	1,460,155	1,400,053
Interest expense		(220,633)	(217,339)	(220,492)
General and administrative		(65,388)	(54,262)	(53,451)
Net income		599,332	464,448	413,599
Equity income from co-investments		66,512	$ 112,136	89,132
Apartment Building
Business Acquisition [Line Items]
Number of communities held by acquired investment \| community			4
Number of units held by acquired investment \| apartment			849
Total Co Investment
Membership Combined Balance Sheets [Abstract]
Rental properties and real estate under development		4,242,611	$ 4,733,762
Other assets		200,777	139,562
Total assets		4,443,388	4,873,324
Debt		2,611,365	2,442,213
Other liabilities		189,515	117,160
Equity		1,642,508	2,313,951
Total liabilities and equity/capital		4,443,388	4,873,324
Company's share of equity		1,018,010	1,335,339
Membership Combined Statements Of Income [Abstract]
Revenues		300,624	336,922	332,164
Property operating expenses		(108,682)	(115,658)	(107,584)
Net operating income		191,942	221,264	224,580
Gain on sale of real estate		0	112,918	24,218
Interest expense		(78,962)	(65,665)	(63,913)
General and administrative		(17,079)	(9,575)	(6,379)
Depreciation and amortization		(117,836)	(121,006)	(126,485)
Net income		(21,935)	137,936	52,021
Company's share of net income		66,512	112,136	89,132
Investments with Related Parties
Membership Combined Statements Of Income [Abstract]
Equity income from co-investments		$ 8,600	7,500	$ 2,000
CPPIB
Business Acquisition [Line Items]
Ownership percentage		0.00%
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures		$ 0	345,466
Wesco I, III, IV and V
Business Acquisition [Line Items]
Ownership percentage		51.00%
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures		$ 178,322	216,756
BEXAEW, BEX II, BEX III, and BEX IV
Business Acquisition [Line Items]
Ownership percentage		50.00%
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures		$ 152,309	160,888
Other
Business Acquisition [Line Items]
Ownership percentage		47.00%
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures		$ 27,635	20,351
Total Operating Co-investments
Business Acquisition [Line Items]
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures		$ 358,266	743,461
Total Development Co-Investments
Business Acquisition [Line Items]
Ownership percentage		50.00%
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures		$ 157,433	146,944
Total Preferred Interest Investments
Business Acquisition [Line Items]
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures		502,311	444,934
Total Preferred Interest Investments \| Investments in Majority-Owned Subsidiaries
Business Acquisition [Line Items]
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures		$ 81,400	$ 73,200
CPPIB Interest
Business Acquisition [Line Items]
Investment interest acquired	45.00%
CPPIB Interest \| Apartment Building
Business Acquisition [Line Items]
Number of communities held by acquired investment \| community	6
Number of units held by acquired investment \| apartment	2,020

Real Estate Investments - Opera

Real Estate Investments - Operating, Pre-Development, and Development Co-Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)unit	Dec. 31, 2017USD ($)unit	Dec. 31, 2019USD ($)unit	Dec. 31, 2015USD ($)unit
Real Estate Properties [Line Items]
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures	$ 1,018,010		$ 1,335,339
Number of units to be developed \| unit	1,853
Total Operating Co-investments
Real Estate Properties [Line Items]
Number of apartments owned through joint ventures \| unit	8,652		10,672
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures	$ 358,266		$ 743,461
Total Development Co-Investments
Real Estate Properties [Line Items]
Number of apartments owned through joint ventures \| unit	1,070		806
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures	$ 157,433		$ 146,944
Mesa Village
Real Estate Properties [Line Items]
Number of units to be developed \| unit	264
Equity method investment, ownership percentage	51.00%
Estimated cost active development projects	$ 102,000
Purchase commitment, funded amount	$ 5,900
Annualized preferred return rate	10.00%
Ohlone Multi-Family Community
Real Estate Properties [Line Items]
Number of units to be developed \| unit		269
Equity method investment, ownership percentage		50.00%
Estimated cost active development projects		$ 148,000
Purchase commitment, funded amount		$ 28,900
Annualized preferred return rate		10.00%
Folsom 500
Real Estate Properties [Line Items]
Number of units to be developed \| unit				537
Equity method investment, ownership percentage				50.00%
Estimated cost active development projects				$ 415,000

Real Estate Investments - Prefe

Real Estate Investments - Preferred Equity Investments and Real Estate Under Development (Details) $ in Thousands	1 Months Ended				3 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)propertyinvestmentprojectunit	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Feb. 29, 2020USD ($)	Dec. 31, 2020USD ($)propertyinvestmentprojectunit	Dec. 31, 2020USD ($)propertyinvestmentprojectunit	Dec. 31, 2019USD ($)investment	Dec. 31, 2018USD ($)investment
Schedule of Equity Method Investments [Line Items]
Co-investment	$ 1,018,010				$ 1,018,010	$ 1,018,010	$ 1,335,339
Ownership interests, number of consolidated projects \| project	3				3	3
Ownership Interests, number of unconsolidated projects \| investment	3				3	3
Number of units to be developed \| unit	1,853				1,853	1,853
Real Estate Predevelopment Projects
Schedule of Equity Method Investments [Line Items]
Actual cost of active development projects						$ 948,000
Minimum
Schedule of Equity Method Investments [Line Items]
Annualized preferred return rate						9.00%	10.15%	10.25%
Maximum
Schedule of Equity Method Investments [Line Items]
Annualized preferred return rate						11.50%	11.30%	12.00%
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Commitment to fund preferred equity investment in the project						$ 191,300	$ 141,700	$ 45,100
Number of investments with a commitment to fund \| investment						7	5	2
Equity method investment, funded amount	$ 55,100				$ 55,100	$ 55,100		$ 42,100
Total Preferred Interest Investments
Schedule of Equity Method Investments [Line Items]
Co-investment	502,300				502,300	$ 502,300	$ 444,900
Joint Venture That Holds Property In Los Angeles, CA
Schedule of Equity Method Investments [Line Items]
Proceeds from partial redemption of co-investment			$ 11,300		$ 10,700
Early redemption fee			$ 200
Preferred Equity Investment Property In Southern California
Schedule of Equity Method Investments [Line Items]
Proceeds from partial redemption of co-investment	$ 31,300	$ 13,400		$ 13,400
Number of properties \| property	2				2	2

Revenues - (Details)

Revenues - (Details) $ in Thousands	12 Months Ended
Revenues - (Details) $ in Thousands	Dec. 31, 2020USD ($)community	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020apartment	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Rental and other property	$ 1,486,150	$ 1,450,628	$ 1,390,870
Management and other fees from affiliates	9,598	9,527	9,183
Revenues	$ 1,495,748	1,460,155	1,400,053
Occupancy threshold for classification as stabilized					90.00%
Apartment communities owned (in communities)	246			2
Rental
Disaggregation of Revenue [Line Items]
Rental and other property	$ 1,462,161	1,425,585	1,366,590
Other Property Leasing Revenue
Disaggregation of Revenue [Line Items]
Rental and other property	23,989	25,043	24,280
Rental and Other Property
Disaggregation of Revenue [Line Items]
Rental and other property	1,486,150	1,450,628	1,390,870
Rental and Other Property \| Same Property
Disaggregation of Revenue [Line Items]
Rental and other property	1,286,686	1,338,690	1,288,771
Rental and Other Property \| Acquisitions
Disaggregation of Revenue [Line Items]
Rental and other property	78,666	7,704	0
Rental and Other Property \| Development
Disaggregation of Revenue [Line Items]
Rental and other property	20,050	7,675	2,741
Rental and Other Property \| Redevelopment
Disaggregation of Revenue [Line Items]
Rental and other property	19,054	21,058	20,413
Rental and Other Property \| Non-residential/other, net
Disaggregation of Revenue [Line Items]
Rental and other property	$ 59,838	75,501	78,945
Apartment communities owned (in communities) \| community	3
Rental and Other Property \| Straight line rent concession
Disaggregation of Revenue [Line Items]
Rental and other property	$ 21,856	0	0
Rental and Other Property \| Operating Segments \| Southern California
Disaggregation of Revenue [Line Items]
Rental and other property	570,673	597,330	579,533
Rental and Other Property \| Operating Segments \| Northern California
Disaggregation of Revenue [Line Items]
Rental and other property	610,867	557,139	520,117
Rental and Other Property \| Operating Segments \| Seattle Metro
Disaggregation of Revenue [Line Items]
Rental and other property	243,900	243,060	234,138
Rental and Other Property \| Other Real Estate Assets
Disaggregation of Revenue [Line Items]
Rental and other property	$ 60,710	$ 53,099	$ 57,082

Revenues - Deferred Revenues an

Revenues - Deferred Revenues and Remaining Performance Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 3.1	$ 3.9
Deferred revenue, revenue recognized	0.8
Deferred revenue balance from contracts with remaining performance obligations	$ 3.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligations due per period	23.00%
Expected timing of performance obligation satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligations due per period	45.00%
Expected timing of performance obligation satisfaction, period	2 years

Notes and Other Receivables (De

Notes and Other Receivables (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 195,104	$ 134,365
Allowance for credit losses		(751)	0
Notes receivable, secured, bearing interest at 9.00%, due May 2021 (Originated May 2017)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 0	16,828
Stated interest rate		9.00%
Notes receivable, secured, bearing interest at 9.00%, due May 2021 (Originated May 2017) \| Affiliated Entity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash received from collection of note receivable	$ 16,900
Note receivable, secured, bearing interest at 9.90%, due November 2021 (Originated November 2018)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 14,216	12,838
Stated interest rate		9.90%
Related party note receivable, secured, bearing variable rate interest, due February 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 0	85,713
Related party note receivable, secured, bearing variable rate interest, due February 2020 \| Affiliated Entity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash received from collection of note receivable	$ 85,800
Notes receivable, secured, bearing interest at 10.50%, due February 2023 (Originated March 2020)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 15,299	0
Stated interest rate		10.50%
Note receivable, secured, bearing interest at 11.00%, due October 2023 (Originated April 2020)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 25,461	0
Stated interest rate		11.00%
Note receivable, secured, bearing interest at 9.00%, due December 2023 (Originated November 2020)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 79,827	0
Stated interest rate		9.00%
Note receivable, secured, bearing interest at 11.50%, due November 2024 (Originated November 2020)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 15,423	0
Stated interest rate		11.50%
Notes and other receivables from affiliates
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 4,744	4,442
Straight line rent receivables (5)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		25,214	6,083
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 15,671	$ 8,461

Notes and Other Receivables - A

Notes and Other Receivables - Allowance for credit loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 0
Impact of adoption ASC 326	0	$ 0
Provision for credit losses	(687)	0	$ 0
Ending balance	751	0
Mezzanine Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	0
Impact of adoption ASC 326	751	0
Provision for credit losses	604
Ending balance	751	0
Bridge Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	0
Impact of adoption ASC 326	0	0
Provision for credit losses	(43)
Ending balance	0	0
Mezzanine and Bridge Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	0
Impact of adoption ASC 326	751	0
Provision for credit losses	561
Ending balance	751	0
Cumulative Effect, Period of Adoption, Adjustment \| Mezzanine Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	147
Impact of adoption ASC 326	147	147
Ending balance		147
Cumulative Effect, Period of Adoption, Adjustment \| Bridge Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	43
Impact of adoption ASC 326	43	43
Ending balance		43
Cumulative Effect, Period of Adoption, Adjustment \| Mezzanine and Bridge Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	190
Impact of adoption ASC 326	$ 190	190
Ending balance		$ 190

Related Party Transactions (Det

Related Party Transactions (Details)	1 Months Ended							12 Months Ended					32 Months Ended
Related Party Transactions (Details)	Nov. 30, 2019USD ($)	Aug. 31, 2019USD ($)	Jun. 30, 2019USD ($)apartment	Feb. 28, 2019USD ($)	Oct. 31, 2018USD ($)apartment	May 31, 2018USD ($)apartment	Mar. 31, 2017USD ($)unit	Dec. 31, 2020USD ($)unit	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2015USD ($)investment	Dec. 31, 2020USD ($)	Nov. 30, 2016USD ($)
Related Party Transaction [Line Items]
Management and other fees from affiliates								$ 11,300,000	$ 13,800,000	$ 13,900,000
Revenues from development and redevelopment fees								1,700,000	4,300,000	4,800,000
Notes receivable								$ 195,104,000	134,365,000				$ 195,104,000
Number of units acquired \| unit								2,020
Purchase price								$ 463,400,000	373,300,000
Debt assumed in connection with acquisition								0	143,006,000	45,804,000
Payments to acquire equity method investments								114,017,000	402,284,000	162,437,000
Co-investments								1,018,010,000	1,335,339,000				1,018,010,000
Encumbrance								643,550,000					643,550,000
Redeemed equity method investment										5,000,000	$ 5,000,000
Brio
Related Party Transaction [Line Items]
Number of units acquired \| apartment			300
Purchase price			$ 164,900,000
Debt assumed in connection with acquisition			$ 98,700,000
Apartment Home Community in Ventura, California
Related Party Transaction [Line Items]
Number of units acquired \| apartment						400
Annualized preferred return rate						10.25%
Preferred equity investment, commitment to fund						$ 26,500,000
Purchase commitment, funded amount													23,400,000
Membership Interest in Sage at Cupertino
Related Party Transaction [Line Items]
Number of units acquired \| unit							230
Co-investments							$ 15,300,000
Investment interest acquired							40.50%
Contract price							$ 90,000,000
Encumbrance							$ 52,000,000
Related Party Bridge Loans on Property Acquired by Wesco V
Related Party Transaction [Line Items]
Notes receivable								0	85,713,000				0
Marcus and Millichamp Company TMMC Affiliate \| Related Party Note Receivable, Secured, Bearing Interest at 9.5%, Due October 2019
Related Party Transaction [Line Items]
Notes receivable														$ 6,600,000
Affiliated Entity
Related Party Transaction [Line Items]
Due from Affiliates								4,700,000	4,400,000				$ 4,700,000
Affiliated Entity \| Multifamily Development in Mountain View, California
Related Party Transaction [Line Items]
Payments to acquire equity method investments				$ 24,500,000
Annualized preferred return rate				11.00%
Affiliated Entity \| Home Community Development in Burlingame, California
Related Party Transaction [Line Items]
Number of units acquired \| apartment					268
Payments to acquire equity method investments					$ 18,600,000
Annualized preferred return rate					12.00%
Affiliated Entity \| Related Party Bridge Loans on Property Acquired by Wesco V
Related Party Transaction [Line Items]
Notes receivable, related parties	$ 85,500,000	$ 89,000,000
Interest rate	1.30%	1.30%
Affiliated Entity \| Related Party Bridge Loan on Property Acquired by Bex Iv
Related Party Transaction [Line Items]
Notes receivable, related parties		$ 44,400,000
Interest rate		3.25%
Limited Liability Company
Related Party Transaction [Line Items]
Payments to acquire equity method investments												$ 20,000,000
Number of equity method investments acquired during the period \| investment												3
Cumulative dividend rate												9.50%
Disposition of Multi-family Properties \| Marcus and Millichamp Company TMMC Affiliate
Related Party Transaction [Line Items]
Payments for brokerage fees								$ 200,000	$ 0	$ 0

Unsecured Debt - Summary (Detai

Unsecured Debt - Summary (Details)	12 Months Ended
Unsecured Debt - Summary (Details)	Dec. 31, 2020USD ($)line_of_credit	Dec. 31, 2019USD ($)	Nov. 30, 2016USD ($)	Oct. 31, 2016USD ($)
Debt Instrument [Line Items]
Unsecured debt, net	$ 5,607,985,000	$ 4,763,206,000
Lines of credit	0	55,000,000
Total unsecured debt	5,607,985,000	4,818,206,000
Unamortized debt issuance expense	$ 1,800,000	2,600,000
Number of outstanding lines of credit \| line_of_credit	2
Unsecured bonds private placement - fixed rate
Debt Instrument [Line Items]
Unsecured debt, net	$ 199,950,000	199,820,000
Weighted Average Maturity In Years	6 months
Term loan - variable rate
Debt Instrument [Line Items]
Unsecured debt, net	$ 550,000,000	$ 350,000,000	$ 350,000,000	$ 225,000,000
Weighted average interest rate	1.70%	2.70%
Weighted Average Maturity In Years	1 year 6 months
Term loan - variable rate \| Carrying Value
Debt Instrument [Line Items]
Unsecured debt, net	$ 549,380,000	$ 349,189,000
Bonds public offering - fixed rate
Debt Instrument [Line Items]
Unsecured debt, net	$ 4,858,655,000	$ 4,214,197,000
Weighted average interest rate	3.40%	3.80%
Weighted Average Maturity In Years	9 years 4 months 24 days
Unsecured Line of Credit
Debt Instrument [Line Items]
Lines of credit	$ 0	$ 55,000,000
Weighted average interest rate	1.00%	2.50%
Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, unamortized premium	$ 10,100,000	$ 12,200,000
Unamortized debt issuance expense	31,900,000	24,500,000
Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	1,240,000,000
Unsecured Line of Credit \| Line of Credit
Debt Instrument [Line Items]
Lines of credit	0	55,000,000
Unamortized debt issuance expense	3,700,000	$ 3,800,000
Maximum borrowing capacity	$ 1,200,000,000

Unsecured Debt - Narrative (Det

Unsecured Debt - Narrative (Details)

1 Months Ended

3 Months Ended

12 Months Ended

Jun. 30, 2020USD ($)

Apr. 30, 2020USD ($)extension

Jan. 31, 2020

Nov. 30, 2016USD ($)

Apr. 30, 2013USD ($)

Mar. 31, 2020USD ($)

Dec. 31, 2020USD ($)extensioninstrumentline_of_credit

Dec. 31, 2019USD ($)

Aug. 31, 2020USD ($)

Feb. 29, 2020USD ($)

Oct. 31, 2019USD ($)

Aug. 31, 2019USD ($)

Mar. 31, 2019USD ($)

Feb. 28, 2019USD ($)

Mar. 31, 2018USD ($)

Apr. 30, 2017USD ($)

Mar. 31, 2017USD ($)

Oct. 31, 2016USD ($)

Apr. 30, 2016

Mar. 31, 2015USD ($)

Apr. 30, 2014USD ($)

Debt Instrument [Line Items]

Senior notes

$ 200,000,000

Effective interest rate

4.40%

Unsecured debt, net

$ 5,607,985,000

$ 4,763,206,000

Debt instrument face amount

$ 4,900,000,000

4,250,000,000

Number of lines of credit | line_of_credit

Lines of credit

$ 0

55,000,000

CPPIB Interest

Debt Instrument [Line Items]

Investment interest acquired

45.00%

Essex Portfolio, L.P.

Debt Instrument [Line Items]

Unsecured debt, net

5,607,985,000

4,763,206,000

Lines of credit

55,000,000

Unsecured Bonds 2.650%

Debt Instrument [Line Items]

Debt instrument face amount

650,000,000

Unsecured Bonds 1.650%

Debt Instrument [Line Items]

Debt instrument face amount

300,000,000

Unsecured Bonds 2.650%

Debt Instrument [Line Items]

Debt instrument face amount

300,000,000

Unsecured Bonds 3.000%

Debt Instrument [Line Items]

Debt instrument face amount

550,000,000

Unsecured Bonds 4.000%

Debt Instrument [Line Items]

Debt instrument face amount

500,000,000

Unsecured Bonds 4.500%

Debt Instrument [Line Items]

Debt instrument face amount

300,000,000

Unsecured Bonds 3.625%

Debt Instrument [Line Items]

Debt instrument face amount

350,000,000

Unsecured Bonds 3.375%, Due April 2026

Debt Instrument [Line Items]

Debt instrument face amount

450,000,000

Unsecured Bonds 5.200%

Debt Instrument [Line Items]

Debt instrument face amount

300,000,000

Unsecured Bonds 3.375%

Debt Instrument [Line Items]

Debt instrument face amount

300,000,000

Unsecured Bonds 3.875%

Debt Instrument [Line Items]

Debt instrument face amount

400,000,000

Unsecured Bonds 3.250%

Debt Instrument [Line Items]

Debt instrument face amount

300,000,000

Unsecured Bonds 3.625%

Debt Instrument [Line Items]

Debt instrument face amount

300,000,000

Variable Rate Term Loan

Debt Instrument [Line Items]

Unsecured debt, net

$ 350,000,000

$ 550,000,000

$ 350,000,000

$ 225,000,000

Weighted average interest rate

1.70%

2.70%

Basis spread on rate

0.95%

Variable Rate Term Loan | February 2022

Debt Instrument [Line Items]

Unsecured debt, net

$ 350,000,000

Variable Rate Term Loan | April 2021

Debt Instrument [Line Items]

Unsecured debt, net

$ 200,000,000

Number of extension options | extension

Term extension period

12 years

Variable Rate Term Loan | Carrying Value

Debt Instrument [Line Items]

Unsecured debt, net

$ 549,380,000

$ 349,189,000

Senior Notes | Essex Portfolio, L.P.

Debt Instrument [Line Items]

Debt instrument face amount

$ 600,000,000

Senior Notes | BRE Properties, Inc.

Debt Instrument [Line Items]

Unsecured debt, net

296,800,000

599,400,000

Long-term debt acquired

$ 900,000,000

Senior Notes | Unsecured Bonds 2.650%

Debt Instrument [Line Items]

Unsecured debt, net

$ 650,700,000

Debt instrument face amount

$ 150,000,000

Coupon rate

2.65%

Debt offering price

105.66%

Reoffer yield percentage

2.093%

Senior Notes | Unsecured Bonds 2.650% | Essex Portfolio, L.P.

Debt Instrument [Line Items]

Debt instrument face amount

$ 500,000,000

Coupon rate

2.65%

Debt offering price

99.628%

Repayments of secured debt

$ 100,300,000

Senior Notes | Unsecured Bonds 1.650%

Debt Instrument [Line Items]

Coupon rate

1.65%

Debt offering price

99.035%

Senior Notes | Unsecured Bonds 1.650% | Essex Portfolio, L.P.

Debt Instrument [Line Items]

Unsecured debt, net

$ 294,500,000

Debt instrument face amount

$ 300,000,000

Coupon rate

1.65%

Senior Notes | Unsecured Bonds 2.650%

Debt Instrument [Line Items]

Coupon rate

2.65%

Debt offering price

99.691%

Senior Notes | Unsecured Bonds 2.650% | Essex Portfolio, L.P.

Debt Instrument [Line Items]

Unsecured debt, net

$ 295,700,000

Debt instrument face amount

$ 300,000,000

Coupon rate

2.65%

Senior Notes | Unsecured Bonds 3.000%

Debt Instrument [Line Items]

Unsecured debt, net

$ 543,100,000

542,300,000

Debt instrument face amount

$ 150,000,000

$ 400,000,000

Coupon rate

3.00%

Debt offering price

101.685%

98.632%

Senior Notes | Unsecured Bonds 4.000%

Debt Instrument [Line Items]

Unsecured debt, net

$ 494,800,000

494,100,000

Debt instrument face amount

$ 150,000,000

$ 350,000,000

Coupon rate

4.00%

Debt offering price

100.717%

99.188%

Senior Notes | Unsecured Bonds 4.500%

Debt Instrument [Line Items]

Unsecured debt, net

$ 295,800,000

295,600,000

Debt instrument face amount

$ 300,000,000

Coupon rate

4.50%

Debt offering price

99.591%

Senior Notes | Unsecured Bonds 3.625%

Debt Instrument [Line Items]

Unsecured debt, net

$ 346,800,000

346,300,000

Debt instrument face amount

$ 350,000,000

Coupon rate

3.625%

Debt offering price

99.423%

Senior Notes | Unsecured Bonds 3.375%, Due April 2026

Debt Instrument [Line Items]

Unsecured debt, net

$ 446,400,000

445,700,000

Coupon rate

3.375%

Debt offering price

99.386%

Senior Notes | Unsecured Bonds 5.500%

Debt Instrument [Line Items]

Coupon rate

5.50%

Face amount of debt paid off

$ 300,000,000

Senior Notes | Unsecured Bonds 5.200%

Debt Instrument [Line Items]

Coupon rate

5.20%

Face amount of debt paid off

$ 300,000,000

Senior Notes | Unsecured Bonds 3.375%

Debt Instrument [Line Items]

Coupon rate

3.375%

Senior Notes | Unsecured Bonds 3.875%

Debt Instrument [Line Items]

Unsecured debt, net

$ 397,800,000

397,100,000

Debt instrument face amount

$ 400,000,000

Coupon rate

3.875%

Debt offering price

99.234%

Senior Notes | Unsecured Bonds 3.250%

Debt Instrument [Line Items]

Coupon rate

3.25%

Debt offering price

99.152%

Proceeds from issuance of unsecured debt

$ 300,000,000

Long-term debt, gross

$ 298,700,000

298,200,000

Senior Notes | Unsecured Bonds 3.625%

Debt Instrument [Line Items]

Debt instrument face amount

$ 300,000,000

Coupon rate

3.625%

Term Loan

Debt Instrument [Line Items]

Number of extension options | extension

Term extension period

12 months

Debt instrument face amount

$ 200,000,000

Term Loan | LIBOR

Debt Instrument [Line Items]

Basis spread on rate

1.20%

Unsecured Debt | Senior Unsecured Notes Maturing April 1, 2025

Debt Instrument [Line Items]

Senior notes

$ 497,600,000

$ 497,100,000

Debt instrument face amount

$ 500,000,000

Coupon rate

3.50%

Debt offering price

99.747%

Unsecured Line of Credit

Debt Instrument [Line Items]

Weighted average interest rate

1.00%

2.50%

Lines of credit

$ 0

$ 55,000,000

Unsecured Line of Credit | Line of Credit Working Capital

Debt Instrument [Line Items]

Lines of credit

Line of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

1,240,000,000

Line of Credit | Line of Credit Working Capital

Debt Instrument [Line Items]

Maximum borrowing capacity

35,000,000

Line of Credit | Unsecured Line of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

1,200,000,000

Lines of credit

$ 0

$ 55,000,000

Line of Credit | Unsecured Line of Credit | LIBOR

Debt Instrument [Line Items]

Basis spread on rate

0.825%

Line of Credit | Working Capital Unsecured Line of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 35,000,000

Interest Rate Swap | Variable Rate Term Loan

Debt Instrument [Line Items]

Number of derivative instruments held | instrument

Term of loan

5 years

Interest Rate Swap | Variable Rate Term Loan | Variable Term Loan, Tranche One

Debt Instrument [Line Items]

Derivative notional amount

$ 175,000,000

Derivative, fixed interest rate

2.30%

Unsecured Debt - Unsecured Priv

Unsecured Debt - Unsecured Private Placement Bonds (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Senior notes	$ 200,000	$ 200,000
Unsecured Bonds 4.27%
Debt Instrument [Line Items]
Senior notes	$ 100,000	100,000
Coupon Rate	4.27%
Unsecured Bonds 4.30%
Debt Instrument [Line Items]
Senior notes	$ 50,000	50,000
Coupon Rate	4.30%
Unsecured Bonds 4.37%
Debt Instrument [Line Items]
Senior notes	$ 50,000	$ 50,000
Coupon Rate	4.37%

Unsecured Debt - Senior Unsecur

Unsecured Debt - Senior Unsecured Notes (Details) - USD ($)

Dec. 31, 2020

Aug. 31, 2020

Jun. 30, 2020

Dec. 31, 2019

Oct. 31, 2019

Aug. 31, 2019

Mar. 31, 2019

Feb. 28, 2019

Mar. 31, 2018

Apr. 30, 2017

Apr. 30, 2014

Apr. 30, 2013

Debt Instrument [Line Items]

Debt instrument face amount

$ 4,900,000,000

$ 4,250,000,000

Unsecured Bonds 5.200%

Debt Instrument [Line Items]

Debt instrument face amount

$ 0

300,000,000

Unsecured Bonds 5.200% | Senior Notes

Debt Instrument [Line Items]

Coupon Rate

5.20%

Unsecured Bonds 3.625%

Debt Instrument [Line Items]

Debt instrument face amount

$ 0

300,000,000

Unsecured Bonds 3.625% | Senior Notes

Debt Instrument [Line Items]

Debt instrument face amount

$ 300,000,000

Coupon Rate

3.625%

Unsecured Bonds 3.375%

Debt Instrument [Line Items]

Debt instrument face amount

$ 300,000,000

300,000,000

Unsecured Bonds 3.375% | Senior Notes

Debt Instrument [Line Items]

Coupon Rate

3.375%

Unsecured Bonds 3.250%

Debt Instrument [Line Items]

Debt instrument face amount

$ 300,000,000

300,000,000

Unsecured Bonds 3.250% | Senior Notes

Debt Instrument [Line Items]

Coupon Rate

3.25%

Unsecured Bonds 3.875%

Debt Instrument [Line Items]

Debt instrument face amount

$ 400,000,000

400,000,000

Unsecured Bonds 3.875% | Senior Notes

Debt Instrument [Line Items]

Debt instrument face amount

$ 400,000,000

Coupon Rate

3.875%

Unsecured Bonds 3.500%

Debt Instrument [Line Items]

Debt instrument face amount

$ 500,000,000

500,000,000

Unsecured Bonds 3.500% | Senior Notes

Debt Instrument [Line Items]

Coupon Rate

3.50%

Unsecured Bonds 3.375%

Debt Instrument [Line Items]

Debt instrument face amount

$ 450,000,000

450,000,000

Unsecured Bonds 3.375% | Senior Notes

Debt Instrument [Line Items]

Coupon Rate

3.375%

Unsecured Bonds 3.625%

Debt Instrument [Line Items]

Debt instrument face amount

$ 350,000,000

350,000,000

Unsecured Bonds 3.625% | Senior Notes

Debt Instrument [Line Items]

Debt instrument face amount

$ 350,000,000

Coupon Rate

3.625%

Unsecured Bonds 4.000%

Debt Instrument [Line Items]

Debt instrument face amount

$ 500,000,000

500,000,000

Unsecured Bonds 4.000% | Senior Notes

Debt Instrument [Line Items]

Debt instrument face amount

$ 150,000,000

$ 350,000,000

Coupon Rate

4.00%

Unsecured Bonds 3.000%

Debt Instrument [Line Items]

Debt instrument face amount

$ 550,000,000

550,000,000

Unsecured Bonds 3.000% | Senior Notes

Debt Instrument [Line Items]

Debt instrument face amount

$ 150,000,000

$ 400,000,000

Coupon Rate

3.00%

Unsecured Bonds 1.650%

Debt Instrument [Line Items]

Debt instrument face amount

$ 300,000,000

Unsecured Bonds 1.650% | Senior Notes

Debt Instrument [Line Items]

Coupon Rate

1.65%

Unsecured Bonds 2.650%

Debt Instrument [Line Items]

Debt instrument face amount

$ 650,000,000

Unsecured Bonds 2.650% | Senior Notes

Debt Instrument [Line Items]

Debt instrument face amount

$ 150,000,000

Coupon Rate

2.65%

Unsecured Bonds 4.500%

Debt Instrument [Line Items]

Debt instrument face amount

$ 300,000,000

300,000,000

Unsecured Bonds 4.500% | Senior Notes

Debt Instrument [Line Items]

Debt instrument face amount

$ 300,000,000

Coupon Rate

4.50%

Unsecured Bonds 2.650%

Debt Instrument [Line Items]

Debt instrument face amount

$ 300,000,000

$ 0

Unsecured Bonds 2.650% | Senior Notes

Debt Instrument [Line Items]

Coupon Rate

2.65%

Unsecured Debt - Future Obligat

Unsecured Debt - Future Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total Debt	$ 643,550	$ 990,667
Unsecured Debt
Debt Instrument [Line Items]
2021	0
2022	0
2023	600,000
2024	400,000
2025	500,000
Thereafter	3,400,000
Total Debt	$ 4,900,000

Mortgage Notes Payable (Details

Mortgage Notes Payable (Details)	12 Months Ended
Mortgage Notes Payable (Details)	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property
Debt Instrument [Line Items]
Mortgage notes payable	$ 643,550,000	$ 990,667,000
Number of properties securing mortgage notes \| property	12	24
Weighted average interest rate	2.70%	4.10%
Unamortized debt issuance expense	$ 1,800,000	$ 2,600,000
Monthly interest expense	3,000,000
Monthly principal amortization	500,000
Mortgage notes payable, net	$ 643,550,000	$ 990,667,000
Repayment of debt before the scheduled maturity date, prepayment penalties	The prepayment penalty on the majority of the Company’s mortgage notes payable are computed by the greater of (a) 1% of the amount of the principal being prepaid or (b) the present value of the principal being prepaid multiplied by the difference between the interest rate of the mortgage note and the stated yield rate on a U.S. treasury security which generally has an equivalent remaining term as the mortgage note.
Minimum
Debt Instrument [Line Items]
Remaining terms	1 year	1 year
Maximum
Debt Instrument [Line Items]
Remaining terms	26 years	27 years
Fixed Rate Mortgage Notes Payable
Debt Instrument [Line Items]
Mortgage notes payable	$ 419,323,000	$ 736,490,000
Prepayment penalty, percent of principal prepaid	1.00%
Fixed Rate Mortgage Notes Payable \| Total Return Swap Callable \| Not Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative notional amount	$ 225,100,000
Variable Rate Mortgage Notes Payable
Debt Instrument [Line Items]
Mortgage notes payable	224,227,000	$ 254,177,000
Derivative notional amount	$ 254,800,000
Multifamily housing mortgage revenue bonds, variable interest rate (in hundredths)	1.20%	2.30%
Percentage of units subject to tenant income criteria (in hundredths)	20.00%
Secured Debt
Debt Instrument [Line Items]
Mortgage notes payable	$ 641,426,000
Debt instrument, unamortized premium	3,900,000	$ 5,900,000
Secured Deeds of Trust
Debt Instrument [Line Items]
Mortgage notes payable, net	$ 0	$ 0

Mortgage Notes Payable - Future

Mortgage Notes Payable - Future Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total Debt	$ 643,550	$ 990,667
Secured Debt
Debt Instrument [Line Items]
2021	3,501
2022	43,188
2023	2,945
2024	3,109
2025	133,054
Thereafter	455,629
Total Debt	$ 641,426

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Details)	1 Months Ended	12 Months Ended
Derivative Instruments and Hedging Activities (Details)	Nov. 30, 2016USD ($)	Dec. 31, 2020USD ($)instrument	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017instrument	Dec. 31, 2016instrument	Oct. 31, 2016USD ($)
Derivative [Line Items]
Unsecured debt, net		$ 5,607,985,000	$ 4,763,206,000
Hedge ineffectiveness related to cash flow hedges		(4,148,000)	(2,948,000)	$ 7,824,000
Total return swap income		10,733,000	8,446,000	8,707,000
Designated as Hedging Instrument
Derivative [Line Items]
Hedge ineffectiveness related to cash flow hedges		0	(200,000)	(100,000)
Not Designated as Hedging Instrument
Derivative [Line Items]
Total return swap income		$ 10,700,000	8,400,000	$ 8,700,000
Interest Rate Swap \| Designated as Hedging Instrument
Derivative [Line Items]
Number of derivative instruments held \| instrument		5			1	4
Average fixed interest rate		2.30%
Derivative fair value		$ (2,400,000)	800,000
Aggregate carrying value of the interest rate swap contracts		2,400,000	200,000
Interest Rate Swap \| Designated as Hedging Instrument \| Prepaid Expenses and Other Assets
Derivative [Line Items]
Derivative fair value		0	1,000,000
Interest Rate Cap \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative notional amount		0	0
Derivative fair value		$ 0	0
Total Return Swap Callable \| Not Designated as Hedging Instrument
Derivative [Line Items]
Number of derivative instruments held \| instrument		4
Total Return Swap \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative fair value		$ 0
Variable Rate Term Loan
Derivative [Line Items]
Unsecured debt, net	$ 350,000,000	$ 550,000,000	$ 350,000,000				$ 225,000,000
Debt instrument, term	5 years
Basis spread on rate	0.95%
Variable Rate Term Loan \| Interest Rate Swap
Derivative [Line Items]
Number of derivative instruments held \| instrument		5
Variable Rate Term Loan \| Interest Rate Swap \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative notional amount		$ 175,000,000
Variable Rate Mortgage Notes Payable
Derivative [Line Items]
Derivative notional amount		254,800,000
Bond subject to interest rate caps		254,800,000
Mortgage Notes Payable \| Total Return Swap Callable \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative notional amount		225,100,000
Mortgage Notes Payable, Real Estate Held-For-Sale \| Total Return Swap Callable \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative notional amount		$ 29,700,000

Lease Agreements - Company as_5

Lease Agreements - Company as Lessor (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)building
Lessor, Lease, Description [Line Items]
Number of commercial buildings under lease agreements \| building	1
Future Minimum Rent
2021	$ 720,570
2022	34,240
2023	14,971
2024	13,619
2025	11,265
Thereafter	24,855
Operating leases	$ 819,520
Minimum
Lessor, Lease, Description [Line Items]
Short-term lease terms	9 months
Commercial lease terms	5 years
Maximum
Lessor, Lease, Description [Line Items]
Short-term lease terms	12 months
Commercial lease terms	20 years

Lease Agreements - Company as_6

Lease Agreements - Company as Lessee - Narrative and Components of Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Office lease, renewal term	5 years
Operating lease right-of-use assets	$ 72,143	$ 74,744
Total leased assets	72,143	74,744
Operating lease liabilities	74,037	76,740
Total lease liabilities	74,037	76,740
Lease, Cost [Abstract]
Operating lease cost	6,749	6,745
Variable lease cost	1,436	783
Short-term lease cost	432	610
Sublease income	(438)	(436)
Total lease cost	8,179	7,702
Operating lease right-of-use assets
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	72,143	74,744
Operating lease liabilities
Lessee, Lease, Description [Line Items]
Operating lease liabilities	$ 74,037	$ 76,740
Minimum
Lessee, Lease, Description [Line Items]
Office lease term of contract	5 years
Ground lease term	20 years
Ground lease, renewal term	10 years
Maximum
Lessee, Lease, Description [Line Items]
Office lease term of contract	10 years
Ground lease term	85 years
Ground lease, renewal term	39 years

Lease Agreements - Company as_7

Lease Agreements - Company as Lessee - Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 6,963
2022	6,987
2023	6,962
2024	6,690
2025	6,310
Thereafter	140,417
Total lease payments	174,329
Less: Imputed interest	(100,292)
Present value of lease liabilities	$ 74,037	$ 76,740

Lease Agreements - Company as_8

Lease Agreements - Company as Lessee - Additional Information (Details)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted-average of remaining lease terms (years)	39 years	39 years
Weighted-average of discount rates	5.00%	4.99%

Equity Transactions (Details)

Equity Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2018
Class of Stock [Line Items]
Common stock, shares authorized	670,000,000	670,000,000
Proceeds from issuance from common stock	$ (296)	$ 72,539	$ (919)
Redemption value of operating partnership units outstanding	$ 544,800	$ 692,500
Operating Partnership
Class of Stock [Line Items]
General partner ownership interest	96.60%
ATM Program, 2018
Class of Stock [Line Items]
Common stock, shares authorized	826,600,000			900,000,000
Sale of common stock, net (in shares)		228,271
Share issued, price per share (in dollars per share)		$ 321.56
Proceeds from issuance from common stock		$ 73,400
Operating Partnership Units
Class of Stock [Line Items]
Number of shares outstanding	2,188,623	2,158,396
Long Term Incentive Plan 2014 Units
Class of Stock [Line Items]
Number of shares outstanding	106,137	143,257

Net Income Per Common Share a_3

Net Income Per Common Share and Net Income Per Common Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Basic:
Net income available to common stockholders	$ 568,870	$ 439,286	$ 390,153
Income from continuing operations available to common stockholders (in shares)	65,454,057	65,840,422	66,041,058
Net income available to common stockholders/unitholders (in dollars per share)	$ 8.69	$ 6.67	$ 5.91
Diluted:
Net income available to common stockholders	$ 569,653	$ 439,286	$ 390,153
Income from continuing operations available to common stockholders (in shares)	65,564,982	65,939,455	66,085,089
Net income available to common stockholders/unitholders (in dollars per share)	$ 8.69	$ 6.66	$ 5.90
Stock Options
Basic:
Income effect of dilutive securities	$ 0	$ 0	$ 0
Effect of dilutive securities (in shares)	16,678	99,033	44,031
Convertible Limited Partnership Units
Diluted:
Anti-dilutive securities (in shares)	2,296,608	2,300,478	2,274,941
Antidilutive securities excluded from computation of earnings per share	$ 20,000	$ 15,300	$ 13,500
DownREIT units
Basic:
Income effect of dilutive securities	$ 783	$ 0	$ 0
Effect of dilutive securities (in shares)	94,247	0	0
Essex Portfolio, L.P.
Basic:
Net income available to common stockholders	$ 588,782	$ 454,629	$ 403,605
Income from continuing operations available to common stockholders (in shares)	67,750,665	68,140,900	68,315,999
Net income available to common stockholders/unitholders (in dollars per share)	$ 8.69	$ 6.67	$ 5.91
Diluted:
Net income available to common stockholders	$ 589,565	$ 454,629	$ 403,605
Income from continuing operations available to common stockholders (in shares)	67,861,590	68,239,933	68,360,030
Net income available to common stockholders/unitholders (in dollars per share)	$ 8.69	$ 6.66	$ 5.90
Essex Portfolio, L.P. \| Stock Options
Basic:
Income effect of dilutive securities	$ 0	$ 0	$ 0
Effect of dilutive securities (in shares)	16,678	99,033	44,031
Diluted:
Anti-dilutive securities (in shares)	403,458	115,066	160,039
Essex Portfolio, L.P. \| DownREIT units
Basic:
Income effect of dilutive securities	$ 783	$ 0	$ 0
Effect of dilutive securities (in shares)	94,247	0	0

Equity Based Compensation Pla_3

Equity Based Compensation Plans - Narrative (Details)	Dec. 09, 2014shares	Dec. 31, 2013shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 09, 2015	Dec. 31, 2011shares	May 31, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized \| shares								2,000,000
Accelerated share-based compensation cost			$ 3,500,000	$ 3,500,000	$ 3,500,000
Intrinsic value of the options outstanding and fully vested			$ 3,400,000	$ 23,500,000
Average fair value of stock options granted (in dollars per share) \| $ / shares			$ 20.69	$ 24.02	$ 26.13
Cap on the appreciation of the market price over the exercise price, option 1			$ 100	$ 100	$ 100
Cap on the appreciation of the market price over the exercise price, option 2			125	125	125
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			12,900,000	11,400,000	12,100,000
Stock-based compensation capitalized			1,300,000	1,600,000	2,000,000
Intrinsic value of options exercised			7,400,000	$ 18,700,000	$ 3,100,000
Unrecognized compensation cost			$ 4,400,000
Unrecognized compensation cost, period for recognition			2 years 2 months 12 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 13,800,000
Unrecognized compensation cost, period for recognition			2 years 3 months 18 days
Granted (in shares) \| shares			45,196	41,643	51,945
2015 LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) \| shares	44,750
Units issued subject only to performance measurement \| shares	24,000
Vesting percentage of units per year	20.00%
Option grants to officers and employees vesting period	5 years
Percent of awards earned						95.75%
Conversion ratio, incentive units			1
Liquidity measurement period			10 years
Measurement period			10 years
Series Z Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) \| shares		50,500					154,500
Option grants to officers and employees vesting period		4 years
Conversion ratio, incentive units							1
Incentive units conversion ratio							one-for-one
Series Z Incentive Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of units per year							0.00%
Option grants to officers and employees vesting period			8 years
Series Z Incentive Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of units per year							14.00%
Option grants to officers and employees vesting period			15 years
Long Term Incentive Plan 2014 Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of units per year		25.00%
Conversion ratio, incentive units			1
Liquidity measurement period			10 years
Measurement period			10 years
Vesting percentage for 2011 Z 1 Units to be convertible							100.00%
Long Term Incentive Plans - Z Units and 2014 LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			$ 0	$ 900,000	$ 800,000
Stock-based compensation capitalized			0	$ 200,000	$ 200,000
Unrecognized compensation cost			$ 0
Granted (in shares) \| shares			0	0	0
Intrinsic value of vested and unvested LTIP units			$ 25,200,000

Equity Based Compensation Pla_4

Equity Based Compensation Plans - Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted average assumptions used to estimate fair value of stock options [Abstract]
Stock price (in dollars per share)	$ 244.74	$ 304.85	$ 262.09
Risk-free interest rates	0.83%	2.01%	2.76%
Expected lives	6 years	6 years	6 years
Volatility	25.72%	19.56%	24.89%
Dividend yield	2.93%	2.72%	2.81%

Equity Based Compensation Pla_5

Equity Based Compensation Plans - Summary of Stock Options Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares
Outstanding at beginning of year (in shares)	572,971	612,954	536,208
Granted (in shares)	149,020	148,147	119,361
Exercised (in shares)	(70,802)	(182,817)	(39,175)
Forfeited and canceled (in shares)	(38,080)	(5,313)	(3,440)
Outstanding at end of year (in shares)	613,109	572,971	612,954
Options exercisable at year end (in shares)	361,985	305,379	322,837
Weighted- average exercise price
Outstanding at beginning of year (in dollars per share)	$ 251.10	$ 224.57	$ 211.41
Granted (in dollars per share)	244.74	304.85	262.09
Exercised (in dollars per share)	208.57	205.25	159.05
Forfeited and canceled (in dollars per share)	228.64	257.87	221.80
Outstanding at end of year (in dollars per share)	255.86	251.10	224.57
Options exercisable at year end (in dollars per share)	$ 245.83	$ 223.90	$ 206.63

Equity Based Compensation Pla_6

Equity Based Compensation Plans - Restricted Stock Activity and LITP Units (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Stock
Total Unvested Units
Unvested at beginning of year (in shares)	132,603	114,877	91,058	90,823
Granted (in shares)	45,196	41,643	51,945
Vested (in shares)	(15,116)	(13,222)	(48,212)
Forfeited and canceled (in shares)	(12,354)	(4,602)	(3,498)
Unvested at end of year (in shares)	132,603	114,877	91,058	90,823
Weighted- average grant price
Unvested at beginning of year (in dollars per share)	$ 197.62	$ 180.99	$ 163.49
Granted (in dollars per share)	248.16	235.93	194.70
Vested (in dollars per share)	170.61	143.56	150.76
Forfeited and canceled (in dollars per share)	184.11	158.06	158.71
Unvested at end of year (in dollars per share)	$ 214.34	$ 197.62	$ 180.99	$ 163.49
Long Term Incentive Plans - Z Units and 2014 LTIP Units
Total Unvested Units
Unvested at beginning of year (in shares)	0	1,890	11,161	23,212
Granted (in shares)	0	0	0
Vested (in shares)	(1,890)	(9,176)	(12,051)
Converted (in shares)	0	0	0
Forfeited and canceled (in shares)	0	(95)	0
Unvested at end of year (in shares)	0	1,890	11,161	23,212
Weighted- average grant price
Unvested at beginning of year (in dollars per share)	$ 75.03	$ 75.03	$ 75.03
Unvested at end of year (in dollars per share)	$ 84.47	$ 75.03	$ 75.03	$ 75.03
Total Vested Units
Vested, beginning balance (in shares)	143,257	134,081	213,300
Vested, units granted (in shares)	0	0	0
Vested, units vested (in shares)	1,890	9,176	12,051
Converted (in shares)	(39,010)	0	(91,270)
Cancelled (in shares)	0	0	0
Vested, ending balance (in shares)	106,137	143,257	134,081	213,300
Total Outstanding Units
Total outstanding units, beginning balance (in shares)	145,147	145,242	236,512
Total outstanding units, granted (in shares)	0	0	0
Total outstanding units, vested (in shares)	0	0	0
Total outstanding units, converted (in shares)	(39,010)	0	(91,270)
Total outstanding units, cancelled (in shares)	0	(95)	0
Total outstanding units, ending balance (in shares)	106,137	145,147	145,242	236,512
Weighted- average Remaining Contractual Life (years)	3 years 7 months 6 days	5 years 2 months 12 days	6 years 6 months	7 years 6 months

Segment Information (Details)

Segment Information (Details) $ in Thousands	12 Months Ended
Segment Information (Details) $ in Thousands	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Segment Reporting [Abstract]
Number of reportable operating segments defined by geographical regions \| segment	3
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property revenues	$ 1,486,150	$ 1,450,628	$ 1,390,870
Total net operating income	1,045,750	1,054,101	1,006,529
Management and other fees from affiliates	9,598	9,527	9,183
Corporate-level property management expenses	(34,573)	(34,067)	(32,055)
Depreciation and amortization	(525,497)	(483,750)	(479,884)
General and administrative	(65,388)	(54,262)	(53,451)
Expensed acquisition and investment related costs	(1,591)	(168)	(194)
Impairment loss	(1,825)	(7,105)	0
Gain (loss) on sale of real estate and land	64,967	(3,164)	61,861
Interest expense	(220,633)	(217,339)	(220,492)
Total return swap income	10,733	8,446	8,707
Interest and other income	40,999	46,298	23,010
Equity income from co-investments	66,512	112,136	89,132
Deferred tax expense on unrealized gain on unconsolidated co-investment	(1,531)	(1,457)	0
(Loss) gain on early retirement of debt, net	(22,883)	3,717	0
Gain on remeasurement of co-investment	234,694	31,535	1,253
Net income	599,332	464,448	413,599
Assets:
Net reportable operating segments - real estate assets	10,927,786	10,348,660
Real estate under development	386,047	546,075
Co-investments	1,018,010	1,335,339
Real estate held for sale	57,938	0
Cash and cash equivalents, including restricted cash	84,041	81,094
Marketable securities	147,768	144,193
Notes receivable	195,104	134,365
Operating lease right-of-use assets	72,143	74,744
Prepaid expenses and other assets	47,340	40,935
Total assets	12,936,177	12,705,405
Rental and Other Property
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property revenues	1,486,150	1,450,628	1,390,870
Management and Other Fees from Affiliates
Revenues from External Customers and Long-Lived Assets [Line Items]
Management and other fees from affiliates	9,598	9,527	9,183
Operating Segments \| Southern California
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net operating income	393,776	425,882	412,517
Assets:
Net reportable operating segments - real estate assets	3,993,275	4,139,104
Operating Segments \| Southern California \| Rental and Other Property
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property revenues	570,673	597,330	579,533
Operating Segments \| Northern California
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net operating income	435,403	412,706	384,548
Assets:
Net reportable operating segments - real estate assets	5,520,019	4,408,404
Operating Segments \| Northern California \| Rental and Other Property
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property revenues	610,867	557,139	520,117
Operating Segments \| Seattle Metro
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net operating income	166,847	172,601	163,927
Assets:
Net reportable operating segments - real estate assets	1,403,678	1,456,187
Operating Segments \| Seattle Metro \| Rental and Other Property
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property revenues	243,900	243,060	234,138
Other Real Estate Assets
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net operating income	49,724	42,912	45,537
Assets:
Net reportable operating segments - real estate assets	10,814	344,965
Other Real Estate Assets \| Rental and Other Property
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property revenues	$ 60,710	$ 53,099	$ 57,082

401(k) Plan (Details)

401(k) Plan (Details) - USD ($) $ in Millions	12 Months Ended
401(k) Plan (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Employer matching contribution, percent	50.00%
Company contributions to benefit plan	$ 2.7	$ 2.4	$ 2.1

Commitments and Contingencies (

Commitments and Contingencies (Details)	Dec. 31, 2020USD ($)
Guarantor Obligations [Line Items]
Property casualty insurance deductible per incident	$ 5,000,000
Pacific Western Insurance LLC
Guarantor Obligations [Line Items]
Cash and marketable securities	$ 152,800,000

Subsequent Events (Details)

Subsequent Events (Details) - Unsecured Bonds 4.30% - USD ($) $ in Millions	1 Months Ended
	Feb. 28, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Effective rate (as a percentage)		4.30%
Subsequent Event
Subsequent Event [Line Items]
Repayments of unsecured debt	$ 100
Effective rate (as a percentage)	4.30%

SCHEDULE III REAL ESTATE AND _2

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)apartment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				$ 643,550
Initial cost
Land				2,887,393
Buildings and improvements				10,154,628
Costs capitalized subsequent to acquisition				2,019,724
Gross amount carried at close of period
Land and improvements				2,929,009
Buildings and improvements				12,132,736
Total	$ 15,061,745			15,061,745
Accumulated depreciation	(4,133,959)	$ (3,209,548)	$ (3,209,548)	(4,133,959)
Aggregate cost for federal income tax purpose	11,600,000
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Acquisition, development, and improvement of real estate	1,426,505	672,041	325,986
Disposition of real estate and other	(402,902)	0	(321,958)
Balance at the end of year	15,061,745
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,689,482	3,209,548	2,769,297
Depreciation expense	518,629	479,934	478,721
Depreciation expense - Disposals and other	(74,152)	0	(38,470)
Balance at the end of year	$ 4,133,959	3,689,482	3,209,548
Encumbered Apartment Communities
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	3,025
Encumbrance				643,550
Initial cost
Land				203,549
Buildings and improvements				767,029
Costs capitalized subsequent to acquisition				129,288
Gross amount carried at close of period
Land and improvements				207,899
Buildings and improvements				891,967
Total	$ 1,099,866			1,099,866
Accumulated depreciation	(266,467)			(266,467)
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	1,099,866
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 266,467
Encumbered Apartment Communities \| Belmont Station
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	275
Encumbrance				29,728
Initial cost
Land				8,100
Buildings and improvements				66,666
Costs capitalized subsequent to acquisition				7,386
Gross amount carried at close of period
Land and improvements				8,267
Buildings and improvements				73,885
Total	$ 82,152			82,152
Accumulated depreciation	$ (33,891)			(33,891)
Date of construction	2009
Date acquired	Mar-09
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 82,152
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 33,891
Encumbered Apartment Communities \| Belmont Station \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Belmont Station \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Brio
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	300
Encumbrance				98,956
Initial cost
Land				16,885
Buildings and improvements				151,741
Costs capitalized subsequent to acquisition				1,263
Gross amount carried at close of period
Land and improvements				16,885
Buildings and improvements				153,004
Total	$ 169,889			169,889
Accumulated depreciation	$ (8,559)			(8,559)
Date of construction	2015
Date acquired	Jun-19
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 169,889
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 8,559
Encumbered Apartment Communities \| Brio \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Brio \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Form 15
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	242
Encumbrance				42,271
Initial cost
Land				24,510
Buildings and improvements				72,221
Costs capitalized subsequent to acquisition				11,835
Gross amount carried at close of period
Land and improvements				25,540
Buildings and improvements				83,026
Total	$ 108,566			108,566
Accumulated depreciation	$ (13,807)			(13,807)
Date of construction	2014
Date acquired	Mar-16
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 108,566
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,807
Encumbered Apartment Communities \| Form 15 \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Form 15 \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Fountain Park
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	705
Encumbrance				82,707
Initial cost
Land				25,073
Buildings and improvements				94,980
Costs capitalized subsequent to acquisition				36,019
Gross amount carried at close of period
Land and improvements				25,203
Buildings and improvements				130,869
Total	$ 156,072			156,072
Accumulated depreciation	$ (80,772)			(80,772)
Date of construction	2002
Date acquired	Feb-04
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 156,072
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 80,772
Encumbered Apartment Communities \| Fountain Park \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Fountain Park \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Highridge
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	255
Encumbrance				69,345
Initial cost
Land				5,419
Buildings and improvements				18,347
Costs capitalized subsequent to acquisition				33,311
Gross amount carried at close of period
Land and improvements				6,073
Buildings and improvements				51,004
Total	$ 57,077			57,077
Accumulated depreciation	$ (41,762)			(41,762)
Date of construction	1972
Date acquired	May-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 57,077
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 41,762
Encumbered Apartment Communities \| Highridge \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Highridge \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Magnolia Square/Magnolia Lane
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	188
Encumbrance				52,303
Initial cost
Land				8,190
Buildings and improvements				24,736
Costs capitalized subsequent to acquisition				18,553
Gross amount carried at close of period
Land and improvements				8,191
Buildings and improvements				43,288
Total	$ 51,479			51,479
Accumulated depreciation	$ (26,038)			(26,038)
Date of construction	1963
Date acquired	Sep-07
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 51,479
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 26,038
Encumbered Apartment Communities \| Magnolia Square/Magnolia Lane \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Magnolia Square/Magnolia Lane \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Marquis
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	166
Encumbrance				44,077
Initial cost
Land				20,495
Buildings and improvements				47,823
Costs capitalized subsequent to acquisition				178
Gross amount carried at close of period
Land and improvements				20,495
Buildings and improvements				48,001
Total	$ 68,496			68,496
Accumulated depreciation	$ (3,290)			(3,290)
Date of construction	2015
Date acquired	Dec-18
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 68,496
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 3,290
Encumbered Apartment Communities \| Marquis \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Marquis \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Sage At Cupertino
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	230
Encumbrance				51,758
Initial cost
Land				35,719
Buildings and improvements				53,449
Costs capitalized subsequent to acquisition				9,242
Gross amount carried at close of period
Land and improvements				35,719
Buildings and improvements				62,691
Total	$ 98,410			98,410
Accumulated depreciation	$ (9,454)			(9,454)
Date of construction	1971
Date acquired	Mar-17
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 98,410
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,454
Encumbered Apartment Communities \| Sage At Cupertino \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Sage At Cupertino \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| The Barkley
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	161
Encumbrance				14,873
Initial cost
Land				0
Buildings and improvements				8,520
Costs capitalized subsequent to acquisition				7,659
Gross amount carried at close of period
Land and improvements				2,353
Buildings and improvements				13,826
Total	$ 16,179			16,179
Accumulated depreciation	$ (10,114)			(10,114)
Date of construction	1984
Date acquired	Apr-00
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 16,179
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 10,114
Encumbered Apartment Communities \| The Barkley \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| The Barkley \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| The Dylan
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	184
Encumbrance				58,515
Initial cost
Land				19,984
Buildings and improvements				82,286
Costs capitalized subsequent to acquisition				1,502
Gross amount carried at close of period
Land and improvements				19,990
Buildings and improvements				83,782
Total	$ 103,772			103,772
Accumulated depreciation	$ (18,368)			(18,368)
Date of construction	2015
Date acquired	Mar-15
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 103,772
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 18,368
Encumbered Apartment Communities \| The Dylan \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| The Dylan \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| The Huxley
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	187
Encumbrance				53,277
Initial cost
Land				19,362
Buildings and improvements				75,641
Costs capitalized subsequent to acquisition				1,710
Gross amount carried at close of period
Land and improvements				19,371
Buildings and improvements				77,342
Total	$ 96,713			96,713
Accumulated depreciation	$ (17,213)			(17,213)
Date of construction	2014
Date acquired	Mar-15
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 96,713
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 17,213
Encumbered Apartment Communities \| The Huxley \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| The Huxley \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Township
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	132
Encumbrance				45,740
Initial cost
Land				19,812
Buildings and improvements				70,619
Costs capitalized subsequent to acquisition				630
Gross amount carried at close of period
Land and improvements				19,812
Buildings and improvements				71,249
Total	$ 91,061			91,061
Accumulated depreciation	$ (3,199)			(3,199)
Date of construction	2014
Date acquired	Sep-19
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 91,061
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 3,199
Encumbered Apartment Communities \| Township \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Township \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Brookside Oaks \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Brookside Oaks \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| City View \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| City View \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Domaine \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Domaine \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Fairhaven Apartments \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Fairhaven Apartments \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Foster's Landing \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Encumbered Apartment Communities \| Foster's Landing \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Montarosa \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Encumbered Apartment Communities \| Montarosa \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Montebello \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Montebello \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Montejo \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Montejo \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| 1000 Kiely \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| 1000 Kiely \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Valley Park \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Valley Park \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Encumbered Apartment Communities \| Villa Angelina \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Encumbered Apartment Communities \| Villa Angelina \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	48,156
Initial cost
Land				2,680,765
Buildings and improvements				9,375,284
Costs capitalized subsequent to acquisition				1,876,157
Gross amount carried at close of period
Land and improvements				2,717,201
Buildings and improvements				11,215,005
Total	$ 13,932,206			13,932,206
Accumulated depreciation	(3,848,633)			(3,848,633)
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	13,932,206
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 3,848,633
Unencumbered Apartment Communities \| Agora
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	49
Initial cost
Land				4,932
Buildings and improvements				60,423
Costs capitalized subsequent to acquisition				187
Gross amount carried at close of period
Land and improvements				4,934
Buildings and improvements				60,608
Total	$ 65,542			65,542
Accumulated depreciation	$ (1,987)			(1,987)
Date of construction	2016
Date acquired	Jan-20
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 65,542
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 1,987
Unencumbered Apartment Communities \| Agora \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Agora \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Alessio
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	624
Initial cost
Land				32,136
Buildings and improvements				128,543
Costs capitalized subsequent to acquisition				14,335
Gross amount carried at close of period
Land and improvements				32,136
Buildings and improvements				142,878
Total	$ 175,014			175,014
Accumulated depreciation	$ (37,803)			(37,803)
Date of construction	2001
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 175,014
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 37,803
Unencumbered Apartment Communities \| Alessio \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Alessio \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Allegro
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	97
Initial cost
Land				5,869
Buildings and improvements				23,977
Costs capitalized subsequent to acquisition				2,758
Gross amount carried at close of period
Land and improvements				5,869
Buildings and improvements				26,735
Total	$ 32,604			32,604
Accumulated depreciation	$ (11,343)			(11,343)
Date of construction	2010
Date acquired	Oct-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 32,604
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 11,343
Unencumbered Apartment Communities \| Allegro \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Allegro \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Allure at Scripps Ranch
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	194
Initial cost
Land				11,923
Buildings and improvements				47,690
Costs capitalized subsequent to acquisition				1,979
Gross amount carried at close of period
Land and improvements				11,923
Buildings and improvements				49,669
Total	$ 61,592			61,592
Accumulated depreciation	$ (12,386)			(12,386)
Date of construction	2002
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 61,592
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 12,386
Unencumbered Apartment Communities \| Allure at Scripps Ranch \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Allure at Scripps Ranch \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Alpine Village
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	301
Initial cost
Land				4,967
Buildings and improvements				19,728
Costs capitalized subsequent to acquisition				9,687
Gross amount carried at close of period
Land and improvements				4,982
Buildings and improvements				29,400
Total	$ 34,382			34,382
Accumulated depreciation	$ (18,364)			(18,364)
Date of construction	1971
Date acquired	Dec-02
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 34,382
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 18,364
Unencumbered Apartment Communities \| Alpine Village \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Alpine Village \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Anavia
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	250
Initial cost
Land				15,925
Buildings and improvements				63,712
Costs capitalized subsequent to acquisition				9,732
Gross amount carried at close of period
Land and improvements				15,925
Buildings and improvements				73,444
Total	$ 89,369			89,369
Accumulated depreciation	$ (25,398)			(25,398)
Date of construction	2009
Date acquired	Dec-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 89,369
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 25,398
Unencumbered Apartment Communities \| Anavia \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Anavia \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Annaliese
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	56
Initial cost
Land				4,727
Buildings and improvements				14,229
Costs capitalized subsequent to acquisition				808
Gross amount carried at close of period
Land and improvements				4,726
Buildings and improvements				15,038
Total	$ 19,764			19,764
Accumulated depreciation	$ (4,182)			(4,182)
Date of construction	2009
Date acquired	Jan-13
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 19,764
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 4,182
Unencumbered Apartment Communities \| Annaliese \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Annaliese \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Apex
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	366
Initial cost
Land				44,240
Buildings and improvements				103,251
Costs capitalized subsequent to acquisition				6,095
Gross amount carried at close of period
Land and improvements				44,240
Buildings and improvements				109,346
Total	$ 153,586			153,586
Accumulated depreciation	$ (23,316)			(23,316)
Date of construction	2014
Date acquired	Aug-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 153,586
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 23,316
Unencumbered Apartment Communities \| Apex \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Apex \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Aqua at Marina Del Rey
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	500
Initial cost
Land				58,442
Buildings and improvements				175,326
Costs capitalized subsequent to acquisition				15,117
Gross amount carried at close of period
Land and improvements				58,442
Buildings and improvements				190,443
Total	$ 248,885			248,885
Accumulated depreciation	$ (52,469)			(52,469)
Date of construction	2001
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 248,885
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 52,469
Unencumbered Apartment Communities \| Aqua at Marina Del Rey \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Aqua at Marina Del Rey \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Ascent
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	90
Initial cost
Land				3,924
Buildings and improvements				11,862
Costs capitalized subsequent to acquisition				2,286
Gross amount carried at close of period
Land and improvements				3,924
Buildings and improvements				14,148
Total	$ 18,072			18,072
Accumulated depreciation	$ (4,792)			(4,792)
Date of construction	1988
Date acquired	Oct-12
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 18,072
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 4,792
Unencumbered Apartment Communities \| Ascent \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Ascent \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Ashton Sherman Village
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	264
Initial cost
Land				23,550
Buildings and improvements				93,811
Costs capitalized subsequent to acquisition				1,536
Gross amount carried at close of period
Land and improvements				23,550
Buildings and improvements				95,347
Total	$ 118,897			118,897
Accumulated depreciation	$ (13,614)			(13,614)
Date of construction	2014
Date acquired	Dec-16
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 118,897
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,614
Unencumbered Apartment Communities \| Ashton Sherman Village \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Ashton Sherman Village \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Avant
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	440
Initial cost
Land				32,379
Buildings and improvements				137,940
Costs capitalized subsequent to acquisition				3,722
Gross amount carried at close of period
Land and improvements				32,379
Buildings and improvements				141,662
Total	$ 174,041			174,041
Accumulated depreciation	$ (26,788)			(26,788)
Date of construction	2014
Date acquired	Jun-15
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 174,041
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 26,788
Unencumbered Apartment Communities \| Avant \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Avant \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Avenue 64
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	224
Initial cost
Land				27,235
Buildings and improvements				64,403
Costs capitalized subsequent to acquisition				16,322
Gross amount carried at close of period
Land and improvements				27,235
Buildings and improvements				80,725
Total	$ 107,960			107,960
Accumulated depreciation	$ (18,800)			(18,800)
Date of construction	2007
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 107,960
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 18,800
Unencumbered Apartment Communities \| Avenue 64 \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Avenue 64 \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Aviara
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	166
Initial cost
Land				0
Buildings and improvements				49,813
Costs capitalized subsequent to acquisition				1,874
Gross amount carried at close of period
Land and improvements				0
Buildings and improvements				51,687
Total	$ 51,687			51,687
Accumulated depreciation	$ (13,707)			(13,707)
Date of construction	2013
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 51,687
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,707
Unencumbered Apartment Communities \| Aviara \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Aviara \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Avondale at Warner Center
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	446
Initial cost
Land				10,536
Buildings and improvements				24,522
Costs capitalized subsequent to acquisition				25,418
Gross amount carried at close of period
Land and improvements				10,601
Buildings and improvements				49,875
Total	$ 60,476			60,476
Accumulated depreciation	$ (36,728)			(36,728)
Date of construction	1970
Date acquired	Jan-99
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 60,476
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 36,728
Unencumbered Apartment Communities \| Avondale at Warner Center \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Avondale at Warner Center \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Bel Air
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	462
Initial cost
Land				12,105
Buildings and improvements				18,252
Costs capitalized subsequent to acquisition				43,348
Gross amount carried at close of period
Land and improvements				12,682
Buildings and improvements				61,023
Total	$ 73,705			73,705
Accumulated depreciation	$ (43,768)			(43,768)
Date of construction	1988
Date acquired	Jan-95
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 73,705
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 43,768
Unencumbered Apartment Communities \| Bel Air \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Bel Air \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Belcarra
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	296
Initial cost
Land				21,725
Buildings and improvements				92,091
Costs capitalized subsequent to acquisition				2,613
Gross amount carried at close of period
Land and improvements				21,725
Buildings and improvements				94,704
Total	$ 116,429			116,429
Accumulated depreciation	$ (23,150)			(23,150)
Date of construction	2009
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 116,429
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 23,150
Unencumbered Apartment Communities \| Belcarra \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Belcarra \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Bella Villagio
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	231
Initial cost
Land				17,247
Buildings and improvements				40,343
Costs capitalized subsequent to acquisition				4,651
Gross amount carried at close of period
Land and improvements				17,247
Buildings and improvements				44,994
Total	$ 62,241			62,241
Accumulated depreciation	$ (16,688)			(16,688)
Date of construction	2004
Date acquired	Sep-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 62,241
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 16,688
Unencumbered Apartment Communities \| Bella Villagio \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Bella Villagio \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| BellCentre
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	248
Initial cost
Land				16,197
Buildings and improvements				67,207
Costs capitalized subsequent to acquisition				5,644
Gross amount carried at close of period
Land and improvements				16,197
Buildings and improvements				72,851
Total	$ 89,048			89,048
Accumulated depreciation	$ (18,845)			(18,845)
Date of construction	2001
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 89,048
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 18,845
Unencumbered Apartment Communities \| BellCentre \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| BellCentre \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Bellerive
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	63
Initial cost
Land				5,401
Buildings and improvements				21,803
Costs capitalized subsequent to acquisition				1,390
Gross amount carried at close of period
Land and improvements				5,401
Buildings and improvements				23,193
Total	$ 28,594			28,594
Accumulated depreciation	$ (8,573)			(8,573)
Date of construction	2011
Date acquired	Aug-11
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 28,594
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 8,573
Unencumbered Apartment Communities \| Bellerive \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Bellerive \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Belmont Terrace
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	71
Initial cost
Land				4,446
Buildings and improvements				10,290
Costs capitalized subsequent to acquisition				7,387
Gross amount carried at close of period
Land and improvements				4,473
Buildings and improvements				17,650
Total	$ 22,123			22,123
Accumulated depreciation	$ (10,455)			(10,455)
Date of construction	1974
Date acquired	Oct-06
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 22,123
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 10,455
Unencumbered Apartment Communities \| Belmont Terrace \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Belmont Terrace \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Bennett Lofts
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	165
Initial cost
Land				21,771
Buildings and improvements				50,800
Costs capitalized subsequent to acquisition				30,939
Gross amount carried at close of period
Land and improvements				28,371
Buildings and improvements				75,139
Total	$ 103,510			103,510
Accumulated depreciation	$ (22,577)			(22,577)
Date of construction	2004
Date acquired	Dec-12
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 103,510
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 22,577
Unencumbered Apartment Communities \| Bennett Lofts \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Bennett Lofts \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Bernardo Crest
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	216
Initial cost
Land				10,802
Buildings and improvements				43,209
Costs capitalized subsequent to acquisition				5,214
Gross amount carried at close of period
Land and improvements				10,802
Buildings and improvements				48,423
Total	$ 59,225			59,225
Accumulated depreciation	$ (12,642)			(12,642)
Date of construction	1988
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 59,225
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 12,642
Unencumbered Apartment Communities \| Bernardo Crest \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Bernardo Crest \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Bonita Cedars
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	120
Initial cost
Land				2,496
Buildings and improvements				9,913
Costs capitalized subsequent to acquisition				5,834
Gross amount carried at close of period
Land and improvements				2,503
Buildings and improvements				15,740
Total	$ 18,243			18,243
Accumulated depreciation	$ (9,541)			(9,541)
Date of construction	1983
Date acquired	Dec-02
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 18,243
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,541
Unencumbered Apartment Communities \| Bonita Cedars \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Bonita Cedars \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Boulevard
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	172
Initial cost
Land				3,520
Buildings and improvements				8,182
Costs capitalized subsequent to acquisition				14,651
Gross amount carried at close of period
Land and improvements				3,580
Buildings and improvements				22,773
Total	$ 26,353			26,353
Accumulated depreciation	$ (18,916)			(18,916)
Date of construction	1978
Date acquired	Jan-96
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 26,353
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 18,916
Unencumbered Apartment Communities \| Boulevard \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Boulevard \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Brookside Oaks
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	170
Initial cost
Land				7,301
Buildings and improvements				16,310
Costs capitalized subsequent to acquisition				27,349
Gross amount carried at close of period
Land and improvements				10,328
Buildings and improvements				40,632
Total	$ 50,960			50,960
Accumulated depreciation	$ (26,656)			(26,656)
Date of construction	1973
Date acquired	Jun-00
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 50,960
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 26,656
Unencumbered Apartment Communities \| Bridle Trails
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	108
Initial cost
Land				1,500
Buildings and improvements				5,930
Costs capitalized subsequent to acquisition				6,690
Gross amount carried at close of period
Land and improvements				1,531
Buildings and improvements				12,589
Total	$ 14,120			14,120
Accumulated depreciation	$ (9,424)			(9,424)
Date of construction	1986
Date acquired	Oct-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 14,120
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,424
Unencumbered Apartment Communities \| Bridle Trails \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Bridle Trails \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Brighton Ridge
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	264
Initial cost
Land				2,623
Buildings and improvements				10,800
Costs capitalized subsequent to acquisition				7,010
Gross amount carried at close of period
Land and improvements				2,656
Buildings and improvements				17,777
Total	$ 20,433			20,433
Accumulated depreciation	$ (13,419)			(13,419)
Date of construction	1986
Date acquired	Dec-96
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 20,433
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,419
Unencumbered Apartment Communities \| Brighton Ridge \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Brighton Ridge \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Bristol Commons
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	188
Initial cost
Land				5,278
Buildings and improvements				11,853
Costs capitalized subsequent to acquisition				10,433
Gross amount carried at close of period
Land and improvements				5,293
Buildings and improvements				22,271
Total	$ 27,564			27,564
Accumulated depreciation	$ (16,949)			(16,949)
Date of construction	1989
Date acquired	Jan-95
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 27,564
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 16,949
Unencumbered Apartment Communities \| Bristol Commons \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Bristol Commons \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Bunker Hill
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	456
Initial cost
Land				11,498
Buildings and improvements				27,871
Costs capitalized subsequent to acquisition				96,132
Gross amount carried at close of period
Land and improvements				11,639
Buildings and improvements				123,862
Total	$ 135,501			135,501
Accumulated depreciation	$ (79,005)			(79,005)
Date of construction	1968
Date acquired	Mar-98
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 135,501
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 79,005
Unencumbered Apartment Communities \| Bunker Hill \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Bunker Hill \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Camarillo Oaks
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	564
Initial cost
Land				10,953
Buildings and improvements				25,254
Costs capitalized subsequent to acquisition				8,869
Gross amount carried at close of period
Land and improvements				11,075
Buildings and improvements				34,001
Total	$ 45,076			45,076
Accumulated depreciation	$ (26,629)			(26,629)
Date of construction	1985
Date acquired	Jul-96
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 45,076
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 26,629
Unencumbered Apartment Communities \| Camarillo Oaks \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Camarillo Oaks \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Cambridge Park
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	320
Initial cost
Land				18,185
Buildings and improvements				72,739
Costs capitalized subsequent to acquisition				4,120
Gross amount carried at close of period
Land and improvements				18,185
Buildings and improvements				76,859
Total	$ 95,044			95,044
Accumulated depreciation	$ (19,617)			(19,617)
Date of construction	1998
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 95,044
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 19,617
Unencumbered Apartment Communities \| Cambridge Park \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Cambridge Park \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Camino Ruiz Square
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	159
Initial cost
Land				6,871
Buildings and improvements				26,119
Costs capitalized subsequent to acquisition				2,543
Gross amount carried at close of period
Land and improvements				6,931
Buildings and improvements				28,602
Total	$ 35,533			35,533
Accumulated depreciation	$ (13,801)			(13,801)
Date of construction	1990
Date acquired	Dec-06
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 35,533
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,801
Unencumbered Apartment Communities \| Camino Ruiz Square \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Camino Ruiz Square \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Canyon Oaks
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	250
Initial cost
Land				19,088
Buildings and improvements				44,473
Costs capitalized subsequent to acquisition				7,051
Gross amount carried at close of period
Land and improvements				19,088
Buildings and improvements				51,524
Total	$ 70,612			70,612
Accumulated depreciation	$ (23,554)			(23,554)
Date of construction	2005
Date acquired	May-07
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 70,612
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 23,554
Unencumbered Apartment Communities \| Canyon Oaks \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Canyon Oaks \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Canyon Pointe
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	250
Initial cost
Land				4,692
Buildings and improvements				18,288
Costs capitalized subsequent to acquisition				9,479
Gross amount carried at close of period
Land and improvements				4,693
Buildings and improvements				27,766
Total	$ 32,459			32,459
Accumulated depreciation	$ (17,295)			(17,295)
Date of construction	1990
Date acquired	Oct-03
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 32,459
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 17,295
Unencumbered Apartment Communities \| Canyon Pointe \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Canyon Pointe \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Capri at Sunny Hills
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	102
Initial cost
Land				3,337
Buildings and improvements				13,320
Costs capitalized subsequent to acquisition				9,690
Gross amount carried at close of period
Land and improvements				4,048
Buildings and improvements				22,299
Total	$ 26,347			26,347
Accumulated depreciation	$ (15,327)			(15,327)
Date of construction	1961
Date acquired	Sep-01
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 26,347
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 15,327
Unencumbered Apartment Communities \| Capri at Sunny Hills \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Capri at Sunny Hills \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Carmel Creek
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	348
Initial cost
Land				26,842
Buildings and improvements				107,368
Costs capitalized subsequent to acquisition				8,308
Gross amount carried at close of period
Land and improvements				26,842
Buildings and improvements				115,676
Total	$ 142,518			142,518
Accumulated depreciation	$ (30,274)			(30,274)
Date of construction	2000
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 142,518
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 30,274
Unencumbered Apartment Communities \| Carmel Creek \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Carmel Creek \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Carnel Landing
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	356
Initial cost
Land				16,725
Buildings and improvements				66,901
Costs capitalized subsequent to acquisition				10,506
Gross amount carried at close of period
Land and improvements				16,725
Buildings and improvements				77,407
Total	$ 94,132			94,132
Accumulated depreciation	$ (20,335)			(20,335)
Date of construction	1989
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 94,132
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 20,335
Unencumbered Apartment Communities \| Carnel Landing \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Carnel Landing \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Carnel Summit
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	246
Initial cost
Land				14,968
Buildings and improvements				59,871
Costs capitalized subsequent to acquisition				4,545
Gross amount carried at close of period
Land and improvements				14,968
Buildings and improvements				64,416
Total	$ 79,384			79,384
Accumulated depreciation	$ (16,376)			(16,376)
Date of construction	1989
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 79,384
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 16,376
Unencumbered Apartment Communities \| Carnel Summit \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Carnel Summit \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Castle Creek
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	216
Initial cost
Land				4,149
Buildings and improvements				16,028
Costs capitalized subsequent to acquisition				5,677
Gross amount carried at close of period
Land and improvements				4,833
Buildings and improvements				21,021
Total	$ 25,854			25,854
Accumulated depreciation	$ (15,908)			(15,908)
Date of construction	1998
Date acquired	Dec-98
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 25,854
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 15,908
Unencumbered Apartment Communities \| Castle Creek \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Castle Creek \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Catalina Gardens
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	128
Initial cost
Land				6,714
Buildings and improvements				26,856
Costs capitalized subsequent to acquisition				2,490
Gross amount carried at close of period
Land and improvements				6,714
Buildings and improvements				29,346
Total	$ 36,060			36,060
Accumulated depreciation	$ (7,343)			(7,343)
Date of construction	1987
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 36,060
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 7,343
Unencumbered Apartment Communities \| Catalina Gardens \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Catalina Gardens \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| CBC Apartments and The Sweeps
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	239
Initial cost
Land				11,841
Buildings and improvements				45,320
Costs capitalized subsequent to acquisition				6,922
Gross amount carried at close of period
Land and improvements				11,906
Buildings and improvements				52,177
Total	$ 64,083			64,083
Accumulated depreciation	$ (28,445)			(28,445)
Date of construction	1962
Date acquired	Jan-06
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 64,083
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 28,445
Unencumbered Apartment Communities \| CBC Apartments and The Sweeps \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| CBC Apartments and The Sweeps \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Cedar Terrace
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	180
Initial cost
Land				5,543
Buildings and improvements				16,442
Costs capitalized subsequent to acquisition				8,601
Gross amount carried at close of period
Land and improvements				5,652
Buildings and improvements				24,934
Total	$ 30,586			30,586
Accumulated depreciation	$ (13,973)			(13,973)
Date of construction	1984
Date acquired	Jan-05
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 30,586
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,973
Unencumbered Apartment Communities \| Cedar Terrace \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Cedar Terrace \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| CentrePointe
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	224
Initial cost
Land				3,405
Buildings and improvements				7,743
Costs capitalized subsequent to acquisition				22,335
Gross amount carried at close of period
Land and improvements				3,442
Buildings and improvements				30,041
Total	$ 33,483			33,483
Accumulated depreciation	$ (22,318)			(22,318)
Date of construction	1974
Date acquired	Jun-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 33,483
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 22,318
Unencumbered Apartment Communities \| CentrePointe \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| CentrePointe \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Chestnut Street Apartments
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	96
Initial cost
Land				6,582
Buildings and improvements				15,689
Costs capitalized subsequent to acquisition				2,277
Gross amount carried at close of period
Land and improvements				6,582
Buildings and improvements				17,966
Total	$ 24,548			24,548
Accumulated depreciation	$ (7,884)			(7,884)
Date of construction	2002
Date acquired	Jul-08
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 24,548
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 7,884
Unencumbered Apartment Communities \| Chestnut Street Apartments \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Chestnut Street Apartments \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| City View
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	572
Initial cost
Land				9,883
Buildings and improvements				37,670
Costs capitalized subsequent to acquisition				32,941
Gross amount carried at close of period
Land and improvements				10,350
Buildings and improvements				70,144
Total	$ 80,494			80,494
Accumulated depreciation	$ (53,374)			(53,374)
Date of construction	1975
Date acquired	Mar-98
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 80,494
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 53,374
Unencumbered Apartment Communities \| Collins on Pine
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	76
Initial cost
Land				7,276
Buildings and improvements				22,226
Costs capitalized subsequent to acquisition				688
Gross amount carried at close of period
Land and improvements				7,276
Buildings and improvements				22,914
Total	$ 30,190			30,190
Accumulated depreciation	$ (5,180)			(5,180)
Date of construction	2013
Date acquired	May-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 30,190
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 5,180
Unencumbered Apartment Communities \| Collins on Pine \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Collins on Pine \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Connolly Station
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	309
Initial cost
Land				19,949
Buildings and improvements				123,428
Costs capitalized subsequent to acquisition				1,545
Gross amount carried at close of period
Land and improvements				19,949
Buildings and improvements				124,973
Total	$ 144,922			144,922
Accumulated depreciation	$ (4,139)			(4,139)
Date of construction	2014
Date acquired	Jan-20
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 144,922
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 4,139
Unencumbered Apartment Communities \| Connolly Station \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Connolly Station \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Corbella at Juanita Bay
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	169
Initial cost
Land				5,801
Buildings and improvements				17,415
Costs capitalized subsequent to acquisition				3,961
Gross amount carried at close of period
Land and improvements				5,801
Buildings and improvements				21,376
Total	$ 27,177			27,177
Accumulated depreciation	$ (8,273)			(8,273)
Date of construction	1978
Date acquired	Nov-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 27,177
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 8,273
Unencumbered Apartment Communities \| Corbella at Juanita Bay \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Corbella at Juanita Bay \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Cortesia
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	308
Initial cost
Land				13,912
Buildings and improvements				55,649
Costs capitalized subsequent to acquisition				3,302
Gross amount carried at close of period
Land and improvements				13,912
Buildings and improvements				58,951
Total	$ 72,863			72,863
Accumulated depreciation	$ (14,944)			(14,944)
Date of construction	1999
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 72,863
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 14,944
Unencumbered Apartment Communities \| Cortesia \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Cortesia \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Country Villas
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	180
Initial cost
Land				4,174
Buildings and improvements				16,583
Costs capitalized subsequent to acquisition				5,547
Gross amount carried at close of period
Land and improvements				4,187
Buildings and improvements				22,117
Total	$ 26,304			26,304
Accumulated depreciation	$ (13,934)			(13,934)
Date of construction	1976
Date acquired	Dec-02
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 26,304
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,934
Unencumbered Apartment Communities \| Country Villas \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Country Villas \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Courtyard off Main
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	110
Initial cost
Land				7,465
Buildings and improvements				21,405
Costs capitalized subsequent to acquisition				5,047
Gross amount carried at close of period
Land and improvements				7,465
Buildings and improvements				26,452
Total	$ 33,917			33,917
Accumulated depreciation	$ (10,190)			(10,190)
Date of construction	2000
Date acquired	Oct-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 33,917
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 10,190
Unencumbered Apartment Communities \| Courtyard off Main \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Courtyard off Main \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Crow Canyon
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	400
Initial cost
Land				37,579
Buildings and improvements				87,685
Costs capitalized subsequent to acquisition				12,923
Gross amount carried at close of period
Land and improvements				37,579
Buildings and improvements				100,608
Total	$ 138,187			138,187
Accumulated depreciation	$ (26,738)			(26,738)
Date of construction	1992
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 138,187
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 26,738
Unencumbered Apartment Communities \| Crow Canyon \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Crow Canyon \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Deer Valley
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	171
Initial cost
Land				21,478
Buildings and improvements				50,116
Costs capitalized subsequent to acquisition				3,644
Gross amount carried at close of period
Land and improvements				21,478
Buildings and improvements				53,760
Total	$ 75,238			75,238
Accumulated depreciation	$ (13,744)			(13,744)
Date of construction	1996
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 75,238
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,744
Unencumbered Apartment Communities \| Deer Valley \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Deer Valley \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Devonshire
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	276
Initial cost
Land				3,470
Buildings and improvements				13,786
Costs capitalized subsequent to acquisition				6,533
Gross amount carried at close of period
Land and improvements				3,482
Buildings and improvements				20,307
Total	$ 23,789			23,789
Accumulated depreciation	$ (12,163)			(12,163)
Date of construction	1988
Date acquired	Dec-02
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 23,789
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 12,163
Unencumbered Apartment Communities \| Devonshire \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Devonshire \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Domaine
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	92
Initial cost
Land				9,059
Buildings and improvements				27,177
Costs capitalized subsequent to acquisition				1,545
Gross amount carried at close of period
Land and improvements				9,059
Buildings and improvements				28,722
Total	$ 37,781			37,781
Accumulated depreciation	$ (8,376)			(8,376)
Date of construction	2009
Date acquired	Sep-12
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 37,781
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 8,376
Unencumbered Apartment Communities \| Elevation
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	158
Initial cost
Land				4,758
Buildings and improvements				14,285
Costs capitalized subsequent to acquisition				7,372
Gross amount carried at close of period
Land and improvements				4,757
Buildings and improvements				21,658
Total	$ 26,415			26,415
Accumulated depreciation	$ (10,931)			(10,931)
Date of construction	1986
Date acquired	Jun-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 26,415
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 10,931
Unencumbered Apartment Communities \| Elevation \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Elevation \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Ellington
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	220
Initial cost
Land				15,066
Buildings and improvements				45,249
Costs capitalized subsequent to acquisition				4,089
Gross amount carried at close of period
Land and improvements				15,066
Buildings and improvements				49,338
Total	$ 64,404			64,404
Accumulated depreciation	$ (11,978)			(11,978)
Date of construction	1994
Date acquired	Jul-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 64,404
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 11,978
Unencumbered Apartment Communities \| Ellington \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Ellington \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Emerald Pointe
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	160
Initial cost
Land				8,458
Buildings and improvements				33,832
Costs capitalized subsequent to acquisition				2,404
Gross amount carried at close of period
Land and improvements				8,458
Buildings and improvements				36,236
Total	$ 44,694			44,694
Accumulated depreciation	$ (9,304)			(9,304)
Date of construction	1989
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 44,694
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,304
Unencumbered Apartment Communities \| Emerald Pointe \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Emerald Pointe \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Emerald Ridge
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	180
Initial cost
Land				3,449
Buildings and improvements				7,801
Costs capitalized subsequent to acquisition				6,915
Gross amount carried at close of period
Land and improvements				3,449
Buildings and improvements				14,716
Total	$ 18,165			18,165
Accumulated depreciation	$ (11,762)			(11,762)
Date of construction	1987
Date acquired	Nov-94
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 18,165
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 11,762
Unencumbered Apartment Communities \| Emerald Ridge \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Emerald Ridge \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Emerson Valley Village
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	144
Initial cost
Land				13,378
Buildings and improvements				53,240
Costs capitalized subsequent to acquisition				1,349
Gross amount carried at close of period
Land and improvements				13,378
Buildings and improvements				54,589
Total	$ 67,967			67,967
Accumulated depreciation	$ (7,825)			(7,825)
Date of construction	2012
Date acquired	Dec-16
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 67,967
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 7,825
Unencumbered Apartment Communities \| Emerson Valley Village \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Emerson Valley Village \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Emme
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	190
Initial cost
Land				15,039
Buildings and improvements				80,532
Costs capitalized subsequent to acquisition				357
Gross amount carried at close of period
Land and improvements				15,039
Buildings and improvements				80,889
Total	$ 95,928			95,928
Accumulated depreciation	$ (2,709)			(2,709)
Date of construction	2015
Date acquired	Jan-20
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 95,928
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 2,709
Unencumbered Apartment Communities \| Emme \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Emme \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Enso
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	183
Initial cost
Land				21,397
Buildings and improvements				71,135
Costs capitalized subsequent to acquisition				1,907
Gross amount carried at close of period
Land and improvements				21,397
Buildings and improvements				73,042
Total	$ 94,439			94,439
Accumulated depreciation	$ (13,258)			(13,258)
Date of construction	2014
Date acquired	Dec-15
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 94,439
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,258
Unencumbered Apartment Communities \| Enso \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Enso \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Epic
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	769
Initial cost
Land				89,111
Buildings and improvements				307,769
Costs capitalized subsequent to acquisition				509
Gross amount carried at close of period
Land and improvements				89,111
Buildings and improvements				308,278
Total	$ 397,389			397,389
Accumulated depreciation	$ (10,261)			(10,261)
Date of construction	2013
Date acquired	Jan-20
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 397,389
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 10,261
Unencumbered Apartment Communities \| Epic \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Epic \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Esplanade
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	278
Initial cost
Land				18,170
Buildings and improvements				40,086
Costs capitalized subsequent to acquisition				16,209
Gross amount carried at close of period
Land and improvements				18,429
Buildings and improvements				56,036
Total	$ 74,465			74,465
Accumulated depreciation	$ (32,656)			(32,656)
Date of construction	2002
Date acquired	Apr-04
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 74,465
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 32,656
Unencumbered Apartment Communities \| Esplanade \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Esplanade \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Essex Skyline
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	350
Initial cost
Land				21,537
Buildings and improvements				146,099
Costs capitalized subsequent to acquisition				12,601
Gross amount carried at close of period
Land and improvements				21,537
Buildings and improvements				158,700
Total	$ 180,237			180,237
Accumulated depreciation	$ (48,170)			(48,170)
Date of construction	2008
Date acquired	Apr-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 180,237
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 48,170
Unencumbered Apartment Communities \| Essex Skyline \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Essex Skyline \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Evergreen Heights
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	200
Initial cost
Land				3,566
Buildings and improvements				13,395
Costs capitalized subsequent to acquisition				7,339
Gross amount carried at close of period
Land and improvements				3,649
Buildings and improvements				20,651
Total	$ 24,300			24,300
Accumulated depreciation	$ (15,822)			(15,822)
Date of construction	1990
Date acquired	Jun-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 24,300
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 15,822
Unencumbered Apartment Communities \| Evergreen Heights \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Evergreen Heights \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Fairhaven Apartments
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	164
Initial cost
Land				2,626
Buildings and improvements				10,485
Costs capitalized subsequent to acquisition				10,243
Gross amount carried at close of period
Land and improvements				2,957
Buildings and improvements				20,397
Total	$ 23,354			23,354
Accumulated depreciation	$ (13,581)			(13,581)
Date of construction	1970
Date acquired	Nov-01
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 23,354
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,581
Unencumbered Apartment Communities \| Fairway Apartments at Big Canyon
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	74
Initial cost
Land				0
Buildings and improvements				7,850
Costs capitalized subsequent to acquisition				8,513
Gross amount carried at close of period
Land and improvements				0
Buildings and improvements				16,363
Total	$ 16,363			16,363
Accumulated depreciation	$ (12,710)			(12,710)
Date of construction	1972
Date acquired	Jun-99
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 16,363
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 12,710
Unencumbered Apartment Communities \| Fairway Apartments at Big Canyon \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Fairway Apartments at Big Canyon \| Maximum
Gross amount carried at close of period
Life used for depreciation	28 years
Unencumbered Apartment Communities \| Fairwood Pond
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	194
Initial cost
Land				5,296
Buildings and improvements				15,564
Costs capitalized subsequent to acquisition				4,599
Gross amount carried at close of period
Land and improvements				5,297
Buildings and improvements				20,162
Total	$ 25,459			25,459
Accumulated depreciation	$ (11,530)			(11,530)
Date of construction	1997
Date acquired	Oct-04
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 25,459
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 11,530
Unencumbered Apartment Communities \| Fairwood Pond \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Fairwood Pond \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Foothill Commons
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	394
Initial cost
Land				2,435
Buildings and improvements				9,821
Costs capitalized subsequent to acquisition				41,978
Gross amount carried at close of period
Land and improvements				2,440
Buildings and improvements				51,794
Total	$ 54,234			54,234
Accumulated depreciation	$ (47,403)			(47,403)
Date of construction	1978
Date acquired	Mar-90
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 54,234
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 47,403
Unencumbered Apartment Communities \| Foothill Commons \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Foothill Commons \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Foothill Gardens/Twin Creeks
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	176
Initial cost
Land				5,875
Buildings and improvements				13,992
Costs capitalized subsequent to acquisition				12,289
Gross amount carried at close of period
Land and improvements				5,964
Buildings and improvements				26,192
Total	$ 32,156			32,156
Accumulated depreciation	$ (19,884)			(19,884)
Date of construction	1985
Date acquired	Feb-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 32,156
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 19,884
Unencumbered Apartment Communities \| Foothill Gardens/Twin Creeks \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Foothill Gardens/Twin Creeks \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Forest View
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	192
Initial cost
Land				3,731
Buildings and improvements				14,530
Costs capitalized subsequent to acquisition				3,713
Gross amount carried at close of period
Land and improvements				3,731
Buildings and improvements				18,243
Total	$ 21,974			21,974
Accumulated depreciation	$ (10,629)			(10,629)
Date of construction	1998
Date acquired	Oct-03
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 21,974
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 10,629
Unencumbered Apartment Communities \| Forest View \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Forest View \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Foster's Landing
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	490
Initial cost
Land				61,714
Buildings and improvements				144,000
Costs capitalized subsequent to acquisition				11,178
Gross amount carried at close of period
Land and improvements				61,714
Buildings and improvements				155,178
Total	$ 216,892			216,892
Accumulated depreciation	$ (41,241)			(41,241)
Date of construction	1987
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 216,892
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 41,241
Unencumbered Apartment Communities \| Fountain Court
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	320
Initial cost
Land				6,702
Buildings and improvements				27,306
Costs capitalized subsequent to acquisition				13,573
Gross amount carried at close of period
Land and improvements				6,985
Buildings and improvements				40,596
Total	$ 47,581			47,581
Accumulated depreciation	$ (29,905)			(29,905)
Date of construction	2000
Date acquired	Mar-00
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 47,581
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 29,905
Unencumbered Apartment Communities \| Fountain Court \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Fountain Court \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Fountain At Riveroaks
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	226
Initial cost
Land				26,046
Buildings and improvements				60,773
Costs capitalized subsequent to acquisition				5,897
Gross amount carried at close of period
Land and improvements				26,046
Buildings and improvements				66,670
Total	$ 92,716			92,716
Accumulated depreciation	$ (17,559)			(17,559)
Date of construction	1990
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 92,716
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 17,559
Unencumbered Apartment Communities \| Fountain At Riveroaks \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Fountain At Riveroaks \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Fourth & U
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	171
Initial cost
Land				8,879
Buildings and improvements				52,351
Costs capitalized subsequent to acquisition				4,337
Gross amount carried at close of period
Land and improvements				8,879
Buildings and improvements				56,688
Total	$ 65,567			65,567
Accumulated depreciation	$ (21,596)			(21,596)
Date of construction	2010
Date acquired	Apr-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 65,567
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 21,596
Unencumbered Apartment Communities \| Fourth & U \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Fourth & U \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Fox Plaza
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	445
Initial cost
Land				39,731
Buildings and improvements				92,706
Costs capitalized subsequent to acquisition				39,712
Gross amount carried at close of period
Land and improvements				39,731
Buildings and improvements				132,418
Total	$ 172,149			172,149
Accumulated depreciation	$ (41,715)			(41,715)
Date of construction	1968
Date acquired	Feb-13
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 172,149
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 41,715
Unencumbered Apartment Communities \| Fox Plaza \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Fox Plaza \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Henley I/The Henley II
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	215
Initial cost
Land				6,695
Buildings and improvements				16,753
Costs capitalized subsequent to acquisition				28,607
Gross amount carried at close of period
Land and improvements				6,733
Buildings and improvements				45,322
Total	$ 52,055			52,055
Accumulated depreciation	$ (30,235)			(30,235)
Date of construction	1970
Date acquired	Jun-99
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 52,055
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 30,235
Unencumbered Apartment Communities \| The Henley I/The Henley II \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Henley I/The Henley II \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Highlands at Wynhaven
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	333
Initial cost
Land				16,271
Buildings and improvements				48,932
Costs capitalized subsequent to acquisition				15,477
Gross amount carried at close of period
Land and improvements				16,271
Buildings and improvements				64,409
Total	$ 80,680			80,680
Accumulated depreciation	$ (30,874)			(30,874)
Date of construction	2000
Date acquired	Aug-08
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 80,680
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 30,874
Unencumbered Apartment Communities \| Highlands at Wynhaven \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Highlands at Wynhaven \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Hillcrest Park
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	608
Initial cost
Land				15,318
Buildings and improvements				40,601
Costs capitalized subsequent to acquisition				22,105
Gross amount carried at close of period
Land and improvements				15,755
Buildings and improvements				62,269
Total	$ 78,024			78,024
Accumulated depreciation	$ (45,189)			(45,189)
Date of construction	1973
Date acquired	Mar-98
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 78,024
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 45,189
Unencumbered Apartment Communities \| Hillcrest Park \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Hillcrest Park \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Hillsdale Garden
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	697
Initial cost
Land				22,000
Buildings and improvements				94,681
Costs capitalized subsequent to acquisition				29,391
Gross amount carried at close of period
Land and improvements				22,000
Buildings and improvements				124,072
Total	$ 146,072			146,072
Accumulated depreciation	$ (64,193)			(64,193)
Date of construction	1948
Date acquired	Sep-06
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 146,072
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 64,193
Unencumbered Apartment Communities \| Hillsdale Garden \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Hillsdale Garden \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Hope Ranch
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	108
Initial cost
Land				4,078
Buildings and improvements				16,877
Costs capitalized subsequent to acquisition				3,144
Gross amount carried at close of period
Land and improvements				4,208
Buildings and improvements				19,891
Total	$ 24,099			24,099
Accumulated depreciation	$ (9,564)			(9,564)
Date of construction	1965
Date acquired	Mar-07
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 24,099
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,564
Unencumbered Apartment Communities \| Hope Ranch \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Hope Ranch \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Huntington Breakers
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	342
Initial cost
Land				9,306
Buildings and improvements				22,720
Costs capitalized subsequent to acquisition				22,039
Gross amount carried at close of period
Land and improvements				9,315
Buildings and improvements				44,750
Total	$ 54,065			54,065
Accumulated depreciation	$ (35,095)			(35,095)
Date of construction	1984
Date acquired	Oct-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 54,065
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 35,095
Unencumbered Apartment Communities \| Huntington Breakers \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Huntington Breakers \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Inglenook Court
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	224
Initial cost
Land				3,467
Buildings and improvements				7,881
Costs capitalized subsequent to acquisition				8,603
Gross amount carried at close of period
Land and improvements				3,474
Buildings and improvements				16,477
Total	$ 19,951			19,951
Accumulated depreciation	$ (13,915)			(13,915)
Date of construction	1985
Date acquired	Oct-94
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 19,951
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,915
Unencumbered Apartment Communities \| Inglenook Court \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Inglenook Court \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Lafayette Highlands
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	150
Initial cost
Land				17,774
Buildings and improvements				41,473
Costs capitalized subsequent to acquisition				4,292
Gross amount carried at close of period
Land and improvements				17,774
Buildings and improvements				45,765
Total	$ 63,539			63,539
Accumulated depreciation	$ (11,649)			(11,649)
Date of construction	1973
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 63,539
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 11,649
Unencumbered Apartment Communities \| Lafayette Highlands \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Lafayette Highlands \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Lakeshore Landing
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	308
Initial cost
Land				38,155
Buildings and improvements				89,028
Costs capitalized subsequent to acquisition				9,182
Gross amount carried at close of period
Land and improvements				38,155
Buildings and improvements				98,210
Total	$ 136,365			136,365
Accumulated depreciation	$ (26,612)			(26,612)
Date of construction	1988
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 136,365
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 26,612
Unencumbered Apartment Communities \| Lakeshore Landing \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Lakeshore Landing \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Laurels at Mill Creek
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	164
Initial cost
Land				1,559
Buildings and improvements				6,430
Costs capitalized subsequent to acquisition				8,586
Gross amount carried at close of period
Land and improvements				1,595
Buildings and improvements				14,980
Total	$ 16,575			16,575
Accumulated depreciation	$ (11,277)			(11,277)
Date of construction	1981
Date acquired	Dec-96
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 16,575
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 11,277
Unencumbered Apartment Communities \| Laurels at Mill Creek \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Laurels at Mill Creek \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Lawrence Station
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	336
Initial cost
Land				45,532
Buildings and improvements				106,735
Costs capitalized subsequent to acquisition				2,494
Gross amount carried at close of period
Land and improvements				45,532
Buildings and improvements				109,229
Total	$ 154,761			154,761
Accumulated depreciation	$ (30,819)			(30,819)
Date of construction	2012
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 154,761
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 30,819
Unencumbered Apartment Communities \| Lawrence Station \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Lawrence Station \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Le Parc
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	140
Initial cost
Land				3,090
Buildings and improvements				7,421
Costs capitalized subsequent to acquisition				14,181
Gross amount carried at close of period
Land and improvements				3,092
Buildings and improvements				21,600
Total	$ 24,692			24,692
Accumulated depreciation	$ (17,358)			(17,358)
Date of construction	1975
Date acquired	Feb-94
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 24,692
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 17,358
Unencumbered Apartment Communities \| Le Parc \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Le Parc \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Marbrisa
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	202
Initial cost
Land				4,700
Buildings and improvements				18,605
Costs capitalized subsequent to acquisition				10,150
Gross amount carried at close of period
Land and improvements				4,760
Buildings and improvements				28,695
Total	$ 33,455			33,455
Accumulated depreciation	$ (18,760)			(18,760)
Date of construction	1987
Date acquired	Sep-02
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 33,455
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 18,760
Unencumbered Apartment Communities \| Marbrisa \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Marbrisa \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Marina City Club
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	101
Initial cost
Land				0
Buildings and improvements				28,167
Costs capitalized subsequent to acquisition				34,572
Gross amount carried at close of period
Land and improvements				0
Buildings and improvements				62,739
Total	$ 62,739			62,739
Accumulated depreciation	$ (31,601)			(31,601)
Date of construction	1971
Date acquired	Jan-04
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 62,739
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 31,601
Unencumbered Apartment Communities \| Marina City Club \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Marina City Club \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Marina Cove
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	292
Initial cost
Land				5,320
Buildings and improvements				16,431
Costs capitalized subsequent to acquisition				16,263
Gross amount carried at close of period
Land and improvements				5,324
Buildings and improvements				32,690
Total	$ 38,014			38,014
Accumulated depreciation	$ (27,925)			(27,925)
Date of construction	1974
Date acquired	Jun-94
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 38,014
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 27,925
Unencumbered Apartment Communities \| Marina Cove \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Marina Cove \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Mariner's Place
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	105
Initial cost
Land				1,555
Buildings and improvements				6,103
Costs capitalized subsequent to acquisition				2,679
Gross amount carried at close of period
Land and improvements				1,562
Buildings and improvements				8,775
Total	$ 10,337			10,337
Accumulated depreciation	$ (6,362)			(6,362)
Date of construction	1987
Date acquired	May-00
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 10,337
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 6,362
Unencumbered Apartment Communities \| Mariner's Place \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Mariner's Place \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| MB 360
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	360
Initial cost
Land				42,001
Buildings and improvements				212,648
Costs capitalized subsequent to acquisition				12,308
Gross amount carried at close of period
Land and improvements				42,001
Buildings and improvements				224,956
Total	$ 266,957			266,957
Accumulated depreciation	$ (50,304)			(50,304)
Date of construction	2014
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 266,957
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 50,304
Unencumbered Apartment Communities \| MB 360 \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| MB 360 \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Mesa Village
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	133
Initial cost
Land				1,888
Buildings and improvements				7,498
Costs capitalized subsequent to acquisition				2,734
Gross amount carried at close of period
Land and improvements				1,894
Buildings and improvements				10,226
Total	$ 12,120			12,120
Accumulated depreciation	$ (6,127)			(6,127)
Date of construction	1963
Date acquired	Dec-02
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 12,120
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 6,127
Unencumbered Apartment Communities \| Mesa Village \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Mesa Village \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Mill Creek at Windermere
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	400
Initial cost
Land				29,551
Buildings and improvements				69,032
Costs capitalized subsequent to acquisition				7,370
Gross amount carried at close of period
Land and improvements				29,551
Buildings and improvements				76,402
Total	$ 105,953			105,953
Accumulated depreciation	$ (34,899)			(34,899)
Date of construction	2005
Date acquired	Sep-07
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 105,953
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 34,899
Unencumbered Apartment Communities \| Mill Creek at Windermere \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Mill Creek at Windermere \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Mio
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	103
Initial cost
Land				11,012
Buildings and improvements				39,982
Costs capitalized subsequent to acquisition				675
Gross amount carried at close of period
Land and improvements				11,012
Buildings and improvements				40,657
Total	$ 51,669			51,669
Accumulated depreciation	$ (7,166)			(7,166)
Date of construction	2015
Date acquired	Jan-16
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 51,669
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 7,166
Unencumbered Apartment Communities \| Mio \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Mio \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Mirabella
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	188
Initial cost
Land				6,180
Buildings and improvements				26,673
Costs capitalized subsequent to acquisition				17,242
Gross amount carried at close of period
Land and improvements				6,270
Buildings and improvements				43,825
Total	$ 50,095			50,095
Accumulated depreciation	$ (28,017)			(28,017)
Date of construction	2000
Date acquired	May-00
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 50,095
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 28,017
Unencumbered Apartment Communities \| Mirabella \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Mirabella \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Mira Monte
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	354
Initial cost
Land				7,165
Buildings and improvements				28,459
Costs capitalized subsequent to acquisition				12,402
Gross amount carried at close of period
Land and improvements				7,186
Buildings and improvements				40,840
Total	$ 48,026			48,026
Accumulated depreciation	$ (26,833)			(26,833)
Date of construction	1982
Date acquired	Dec-02
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 48,026
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 26,833
Unencumbered Apartment Communities \| Mira Monte \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Mira Monte \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Miracle Mile Marbella
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	236
Initial cost
Land				7,791
Buildings and improvements				23,075
Costs capitalized subsequent to acquisition				15,609
Gross amount carried at close of period
Land and improvements				7,886
Buildings and improvements				38,589
Total	$ 46,475			46,475
Accumulated depreciation	$ (29,348)			(29,348)
Date of construction	1988
Date acquired	Aug-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 46,475
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 29,348
Unencumbered Apartment Communities \| Miracle Mile Marbella \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Miracle Mile Marbella \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Mission Hills
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	282
Initial cost
Land				10,099
Buildings and improvements				38,778
Costs capitalized subsequent to acquisition				11,525
Gross amount carried at close of period
Land and improvements				10,167
Buildings and improvements				50,235
Total	$ 60,402			60,402
Accumulated depreciation	$ (26,979)			(26,979)
Date of construction	1984
Date acquired	Jul-05
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 60,402
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 26,979
Unencumbered Apartment Communities \| Mission Hills \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Mission Hills \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Mission Peaks
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	453
Initial cost
Land				46,499
Buildings and improvements				108,498
Costs capitalized subsequent to acquisition				8,474
Gross amount carried at close of period
Land and improvements				46,499
Buildings and improvements				116,972
Total	$ 163,471			163,471
Accumulated depreciation	$ (29,818)			(29,818)
Date of construction	1995
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 163,471
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 29,818
Unencumbered Apartment Communities \| Mission Peaks \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Mission Peaks \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Mission Peaks II
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	336
Initial cost
Land				31,429
Buildings and improvements				73,334
Costs capitalized subsequent to acquisition				8,388
Gross amount carried at close of period
Land and improvements				31,429
Buildings and improvements				81,722
Total	$ 113,151			113,151
Accumulated depreciation	$ (21,416)			(21,416)
Date of construction	1989
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 113,151
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 21,416
Unencumbered Apartment Communities \| Mission Peaks II \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Mission Peaks II \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Montarosa
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	472
Initial cost
Land				26,697
Buildings and improvements				106,787
Costs capitalized subsequent to acquisition				7,521
Gross amount carried at close of period
Land and improvements				26,697
Buildings and improvements				114,308
Total	$ 141,005			141,005
Accumulated depreciation	$ (28,912)			(28,912)
Date of construction	1990
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 141,005
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 28,912
Unencumbered Apartment Communities \| Montclaire
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	390
Initial cost
Land				4,842
Buildings and improvements				19,776
Costs capitalized subsequent to acquisition				28,355
Gross amount carried at close of period
Land and improvements				4,997
Buildings and improvements				47,976
Total	$ 52,973			52,973
Accumulated depreciation	$ (43,336)			(43,336)
Date of construction	1973
Date acquired	Dec-88
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 52,973
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 43,336
Unencumbered Apartment Communities \| Montclaire \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Montclaire \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Montebello
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	248
Initial cost
Land				13,857
Buildings and improvements				41,575
Costs capitalized subsequent to acquisition				7,496
Gross amount carried at close of period
Land and improvements				13,858
Buildings and improvements				49,070
Total	$ 62,928			62,928
Accumulated depreciation	$ (15,854)			(15,854)
Date of construction	1996
Date acquired	Jul-12
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 62,928
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 15,854
Unencumbered Apartment Communities \| Montejo
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	124
Initial cost
Land				1,925
Buildings and improvements				7,685
Costs capitalized subsequent to acquisition				4,490
Gross amount carried at close of period
Land and improvements				2,194
Buildings and improvements				11,906
Total	$ 14,100			14,100
Accumulated depreciation	$ (7,588)			(7,588)
Date of construction	1974
Date acquired	Nov-01
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 14,100
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 7,588
Unencumbered Apartment Communities \| Monterey Villas
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	122
Initial cost
Land				2,349
Buildings and improvements				5,579
Costs capitalized subsequent to acquisition				7,169
Gross amount carried at close of period
Land and improvements				2,424
Buildings and improvements				12,673
Total	$ 15,097			15,097
Accumulated depreciation	$ (9,150)			(9,150)
Date of construction	1974
Date acquired	Jul-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 15,097
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,150
Unencumbered Apartment Communities \| Monterey Villas \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Monterey Villas \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Muse
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	152
Initial cost
Land				7,822
Buildings and improvements				33,436
Costs capitalized subsequent to acquisition				3,659
Gross amount carried at close of period
Land and improvements				7,823
Buildings and improvements				37,094
Total	$ 44,917			44,917
Accumulated depreciation	$ (15,284)			(15,284)
Date of construction	2011
Date acquired	Feb-11
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 44,917
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 15,284
Unencumbered Apartment Communities \| Muse \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Muse \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| 1000 Kiely
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	121
Initial cost
Land				9,359
Buildings and improvements				21,845
Costs capitalized subsequent to acquisition				8,669
Gross amount carried at close of period
Land and improvements				9,359
Buildings and improvements				30,514
Total	$ 39,873			39,873
Accumulated depreciation	$ (13,890)			(13,890)
Date of construction	1971
Date acquired	Mar-11
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 39,873
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,890
Unencumbered Apartment Communities \| Palm Valley
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	1,099
Initial cost
Land				133,802
Buildings and improvements				312,205
Costs capitalized subsequent to acquisition				18,156
Gross amount carried at close of period
Land and improvements				133,802
Buildings and improvements				330,361
Total	$ 464,163			464,163
Accumulated depreciation	$ (48,807)			(48,807)
Date of construction	2008
Date acquired	Jan-17
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 464,163
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 48,807
Unencumbered Apartment Communities \| Palm Valley \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Palm Valley \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Paragon Apartments
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	301
Initial cost
Land				32,230
Buildings and improvements				77,320
Costs capitalized subsequent to acquisition				2,583
Gross amount carried at close of period
Land and improvements				32,230
Buildings and improvements				79,903
Total	$ 112,133			112,133
Accumulated depreciation	$ (17,735)			(17,735)
Date of construction	2013
Date acquired	Jul-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 112,133
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 17,735
Unencumbered Apartment Communities \| Paragon Apartments \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Paragon Apartments \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Park 20
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	197
Initial cost
Land				27,041
Buildings and improvements				89,281
Costs capitalized subsequent to acquisition				(1,340)
Gross amount carried at close of period
Land and improvements				26,607
Buildings and improvements				88,375
Total	$ 114,982			114,982
Accumulated depreciation	$ (2,983)			(2,983)
Date of construction	2015
Date acquired	Jan-20
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 114,982
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 2,983
Unencumbered Apartment Communities \| Park 20 \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Park 20 \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Park Catalina
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	90
Initial cost
Land				4,710
Buildings and improvements				18,839
Costs capitalized subsequent to acquisition				3,628
Gross amount carried at close of period
Land and improvements				4,710
Buildings and improvements				22,467
Total	$ 27,177			27,177
Accumulated depreciation	$ (8,035)			(8,035)
Date of construction	2002
Date acquired	Jun-12
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 27,177
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 8,035
Unencumbered Apartment Communities \| Park Catalina \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Park Catalina \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Park Highland
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	250
Initial cost
Land				9,391
Buildings and improvements				38,224
Costs capitalized subsequent to acquisition				13,735
Gross amount carried at close of period
Land and improvements				9,391
Buildings and improvements				51,959
Total	$ 61,350			61,350
Accumulated depreciation	$ (16,898)			(16,898)
Date of construction	1993
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 61,350
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 16,898
Unencumbered Apartment Communities \| Park Highland \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Park Highland \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Park Hill at Issaquah
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	245
Initial cost
Land				7,284
Buildings and improvements				21,937
Costs capitalized subsequent to acquisition				11,471
Gross amount carried at close of period
Land and improvements				7,284
Buildings and improvements				33,408
Total	$ 40,692			40,692
Accumulated depreciation	$ (18,428)			(18,428)
Date of construction	1999
Date acquired	Feb-99
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 40,692
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 18,428
Unencumbered Apartment Communities \| Park Hill at Issaquah \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Park Hill at Issaquah \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Park Viridian
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	320
Initial cost
Land				15,894
Buildings and improvements				63,574
Costs capitalized subsequent to acquisition				4,541
Gross amount carried at close of period
Land and improvements				15,894
Buildings and improvements				68,115
Total	$ 84,009			84,009
Accumulated depreciation	$ (17,410)			(17,410)
Date of construction	2008
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 84,009
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 17,410
Unencumbered Apartment Communities \| Park Viridian \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Park Viridian \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Park West
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	126
Initial cost
Land				9,424
Buildings and improvements				21,988
Costs capitalized subsequent to acquisition				12,712
Gross amount carried at close of period
Land and improvements				9,424
Buildings and improvements				34,700
Total	$ 44,124			44,124
Accumulated depreciation	$ (14,022)			(14,022)
Date of construction	1958
Date acquired	Sep-12
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 44,124
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 14,022
Unencumbered Apartment Communities \| Park West \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Park West \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Parkwood at Mill Creek
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	240
Initial cost
Land				10,680
Buildings and improvements				42,722
Costs capitalized subsequent to acquisition				3,545
Gross amount carried at close of period
Land and improvements				10,680
Buildings and improvements				46,267
Total	$ 56,947			56,947
Accumulated depreciation	$ (12,081)			(12,081)
Date of construction	1989
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 56,947
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 12,081
Unencumbered Apartment Communities \| Parkwood at Mill Creek \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Parkwood at Mill Creek \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Patent 523
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	295
Initial cost
Land				14,558
Buildings and improvements				69,417
Costs capitalized subsequent to acquisition				6,137
Gross amount carried at close of period
Land and improvements				14,558
Buildings and improvements				75,554
Total	$ 90,112			90,112
Accumulated depreciation	$ (29,643)			(29,643)
Date of construction	2010
Date acquired	Mar-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 90,112
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 29,643
Unencumbered Apartment Communities \| Patent 523 \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Patent 523 \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Pathways at Bixby Village
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	296
Initial cost
Land				4,083
Buildings and improvements				16,757
Costs capitalized subsequent to acquisition				22,199
Gross amount carried at close of period
Land and improvements				6,239
Buildings and improvements				36,800
Total	$ 43,039			43,039
Accumulated depreciation	$ (33,133)			(33,133)
Date of construction	1975
Date acquired	Feb-91
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 43,039
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 33,133
Unencumbered Apartment Communities \| Pathways at Bixby Village \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Pathways at Bixby Village \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Piedmont
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	396
Initial cost
Land				19,848
Buildings and improvements				59,606
Costs capitalized subsequent to acquisition				13,932
Gross amount carried at close of period
Land and improvements				19,848
Buildings and improvements				73,538
Total	$ 93,386			93,386
Accumulated depreciation	$ (20,426)			(20,426)
Date of construction	1969
Date acquired	May-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 93,386
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 20,426
Unencumbered Apartment Communities \| Piedmont \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Piedmont \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Pinehurst
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	28
Initial cost
Land				0
Buildings and improvements				1,711
Costs capitalized subsequent to acquisition				756
Gross amount carried at close of period
Land and improvements				0
Buildings and improvements				2,467
Total	$ 2,467			2,467
Accumulated depreciation	$ (1,643)			(1,643)
Date of construction	1973
Date acquired	Dec-04
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 2,467
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 1,643
Unencumbered Apartment Communities \| Pinehurst \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Pinehurst \| Maximum
Gross amount carried at close of period
Life used for depreciation	24 years
Unencumbered Apartment Communities \| Pinnacle at Fullerton
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	192
Initial cost
Land				11,019
Buildings and improvements				45,932
Costs capitalized subsequent to acquisition				4,475
Gross amount carried at close of period
Land and improvements				11,019
Buildings and improvements				50,407
Total	$ 61,426			61,426
Accumulated depreciation	$ (13,250)			(13,250)
Date of construction	2004
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 61,426
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,250
Unencumbered Apartment Communities \| Pinnacle at Fullerton \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Pinnacle at Fullerton \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Pinnacle on Lake Washington
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	180
Initial cost
Land				7,760
Buildings and improvements				31,041
Costs capitalized subsequent to acquisition				3,915
Gross amount carried at close of period
Land and improvements				7,760
Buildings and improvements				34,956
Total	$ 42,716			42,716
Accumulated depreciation	$ (9,138)			(9,138)
Date of construction	2001
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 42,716
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,138
Unencumbered Apartment Communities \| Pinnacle on Lake Washington \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Pinnacle on Lake Washington \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Pinnacle at MacArthur Place
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	253
Initial cost
Land				15,810
Buildings and improvements				66,401
Costs capitalized subsequent to acquisition				6,056
Gross amount carried at close of period
Land and improvements				15,810
Buildings and improvements				72,457
Total	$ 88,267			88,267
Accumulated depreciation	$ (18,585)			(18,585)
Date of construction	2002
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 88,267
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 18,585
Unencumbered Apartment Communities \| Pinnacle at MacArthur Place \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Pinnacle at MacArthur Place \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Pinnacle at Otay Ranch I & II
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	364
Initial cost
Land				17,023
Buildings and improvements				68,093
Costs capitalized subsequent to acquisition				4,828
Gross amount carried at close of period
Land and improvements				17,023
Buildings and improvements				72,921
Total	$ 89,944			89,944
Accumulated depreciation	$ (18,684)			(18,684)
Date of construction	2001
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 89,944
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 18,684
Unencumbered Apartment Communities \| Pinnacle at Otay Ranch I & II \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Pinnacle at Otay Ranch I & II \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Pinnacle at Talega
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	362
Initial cost
Land				19,292
Buildings and improvements				77,168
Costs capitalized subsequent to acquisition				3,631
Gross amount carried at close of period
Land and improvements				19,292
Buildings and improvements				80,799
Total	$ 100,091			100,091
Accumulated depreciation	$ (20,288)			(20,288)
Date of construction	2002
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 100,091
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 20,288
Unencumbered Apartment Communities \| Pinnacle at Talega \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Pinnacle at Talega \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Pinnacle Sonata
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	268
Initial cost
Land				14,647
Buildings and improvements				58,586
Costs capitalized subsequent to acquisition				5,554
Gross amount carried at close of period
Land and improvements				14,647
Buildings and improvements				64,140
Total	$ 78,787			78,787
Accumulated depreciation	$ (16,211)			(16,211)
Date of construction	2000
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 78,787
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 16,211
Unencumbered Apartment Communities \| Pinnacle Sonata \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Pinnacle Sonata \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Pointe at Cupertino
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	116
Initial cost
Land				4,505
Buildings and improvements				17,605
Costs capitalized subsequent to acquisition				12,918
Gross amount carried at close of period
Land and improvements				4,505
Buildings and improvements				30,523
Total	$ 35,028			35,028
Accumulated depreciation	$ (20,740)			(20,740)
Date of construction	1963
Date acquired	Aug-98
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 35,028
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 20,740
Unencumbered Apartment Communities \| Pointe at Cupertino \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Pointe at Cupertino \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Pure Redmond
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	105
Initial cost
Land				7,461
Buildings and improvements				31,363
Costs capitalized subsequent to acquisition				411
Gross amount carried at close of period
Land and improvements				7,461
Buildings and improvements				31,774
Total	$ 39,235			39,235
Accumulated depreciation	$ (1,195)			(1,195)
Date of construction	2016
Date acquired	Dec-19
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 39,235
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 1,195
Unencumbered Apartment Communities \| Pure Redmond \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Pure Redmond \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Radius
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	264
Initial cost
Land				11,702
Buildings and improvements				152,336
Costs capitalized subsequent to acquisition				1,190
Gross amount carried at close of period
Land and improvements				11,702
Buildings and improvements				153,526
Total	$ 165,228			165,228
Accumulated depreciation	$ (39,220)			(39,220)
Date of construction	2015
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 165,228
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 39,220
Unencumbered Apartment Communities \| Radius \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Radius \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Reed Square
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	100
Initial cost
Land				6,873
Buildings and improvements				16,037
Costs capitalized subsequent to acquisition				8,746
Gross amount carried at close of period
Land and improvements				6,873
Buildings and improvements				24,783
Total	$ 31,656			31,656
Accumulated depreciation	$ (11,387)			(11,387)
Date of construction	1970
Date acquired	Jan-12
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 31,656
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 11,387
Unencumbered Apartment Communities \| Reed Square \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Reed Square \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Regency at Encino
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	75
Initial cost
Land				3,184
Buildings and improvements				12,737
Costs capitalized subsequent to acquisition				4,212
Gross amount carried at close of period
Land and improvements				3,184
Buildings and improvements				16,949
Total	$ 20,133			20,133
Accumulated depreciation	$ (7,710)			(7,710)
Date of construction	1989
Date acquired	Dec-09
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 20,133
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 7,710
Unencumbered Apartment Communities \| Regency at Encino \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Regency at Encino \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Renaissance at Uptown Orange
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	460
Initial cost
Land				27,870
Buildings and improvements				111,482
Costs capitalized subsequent to acquisition				7,258
Gross amount carried at close of period
Land and improvements				27,870
Buildings and improvements				118,740
Total	$ 146,610			146,610
Accumulated depreciation	$ (29,992)			(29,992)
Date of construction	2007
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 146,610
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 29,992
Unencumbered Apartment Communities \| Renaissance at Uptown Orange \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Renaissance at Uptown Orange \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Reveal
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	438
Initial cost
Land				25,073
Buildings and improvements				121,314
Costs capitalized subsequent to acquisition				3,656
Gross amount carried at close of period
Land and improvements				25,073
Buildings and improvements				124,970
Total	$ 150,043			150,043
Accumulated depreciation	$ (27,492)			(27,492)
Date of construction	2010
Date acquired	Apr-15
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 150,043
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 27,492
Unencumbered Apartment Communities \| The Reveal \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Reveal \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Salmon Run at Perry Creek
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	132
Initial cost
Land				3,717
Buildings and improvements				11,483
Costs capitalized subsequent to acquisition				3,054
Gross amount carried at close of period
Land and improvements				3,801
Buildings and improvements				14,453
Total	$ 18,254			18,254
Accumulated depreciation	$ (9,519)			(9,519)
Date of construction	2000
Date acquired	Oct-00
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 18,254
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,519
Unencumbered Apartment Communities \| Salmon Run at Perry Creek \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Salmon Run at Perry Creek \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Sammamish View
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	153
Initial cost
Land				3,324
Buildings and improvements				7,501
Costs capitalized subsequent to acquisition				7,530
Gross amount carried at close of period
Land and improvements				3,331
Buildings and improvements				15,024
Total	$ 18,355			18,355
Accumulated depreciation	$ (13,067)			(13,067)
Date of construction	1986
Date acquired	Nov-94
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 18,355
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,067
Unencumbered Apartment Communities \| Sammamish View \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Sammamish View \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| 101 San Fernando
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	323
Initial cost
Land				4,173
Buildings and improvements				58,961
Costs capitalized subsequent to acquisition				13,856
Gross amount carried at close of period
Land and improvements				4,173
Buildings and improvements				72,817
Total	$ 76,990			76,990
Accumulated depreciation	$ (30,215)			(30,215)
Date of construction	2001
Date acquired	Jul-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 76,990
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 30,215
Unencumbered Apartment Communities \| 101 San Fernando \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| 101 San Fernando \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| San Marcos
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	432
Initial cost
Land				15,563
Buildings and improvements				36,204
Costs capitalized subsequent to acquisition				33,980
Gross amount carried at close of period
Land and improvements				22,866
Buildings and improvements				62,881
Total	$ 85,747			85,747
Accumulated depreciation	$ (36,750)			(36,750)
Date of construction	2003
Date acquired	Nov-03
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 85,747
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 36,750
Unencumbered Apartment Communities \| San Marcos \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| San Marcos \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Santee Court/Santee Village
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	238
Initial cost
Land				9,581
Buildings and improvements				40,317
Costs capitalized subsequent to acquisition				13,433
Gross amount carried at close of period
Land and improvements				9,582
Buildings and improvements				53,749
Total	$ 63,331			63,331
Accumulated depreciation	$ (19,802)			(19,802)
Date of construction	2004
Date acquired	Oct-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 63,331
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 19,802
Unencumbered Apartment Communities \| Santee Court/Santee Village \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Santee Court/Santee Village \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Shadow Point
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	172
Initial cost
Land				2,812
Buildings and improvements				11,170
Costs capitalized subsequent to acquisition				4,576
Gross amount carried at close of period
Land and improvements				2,820
Buildings and improvements				15,738
Total	$ 18,558			18,558
Accumulated depreciation	$ (9,638)			(9,638)
Date of construction	1983
Date acquired	Dec-02
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 18,558
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,638
Unencumbered Apartment Communities \| Shadow Point \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Shadow Point \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Shadowbrook
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	418
Initial cost
Land				19,292
Buildings and improvements				77,168
Costs capitalized subsequent to acquisition				6,131
Gross amount carried at close of period
Land and improvements				19,292
Buildings and improvements				83,299
Total	$ 102,591			102,591
Accumulated depreciation	$ (21,393)			(21,393)
Date of construction	1986
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 102,591
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 21,393
Unencumbered Apartment Communities \| Shadowbrook \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Shadowbrook \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Slater 116
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	108
Initial cost
Land				7,379
Buildings and improvements				22,138
Costs capitalized subsequent to acquisition				1,323
Gross amount carried at close of period
Land and improvements				7,379
Buildings and improvements				23,461
Total	$ 30,840			30,840
Accumulated depreciation	$ (6,063)			(6,063)
Date of construction	2013
Date acquired	Sep-13
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 30,840
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 6,063
Unencumbered Apartment Communities \| Slater 116 \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Slater 116 \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Solstice
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	280
Initial cost
Land				34,444
Buildings and improvements				147,262
Costs capitalized subsequent to acquisition				6,856
Gross amount carried at close of period
Land and improvements				34,444
Buildings and improvements				154,118
Total	$ 188,562			188,562
Accumulated depreciation	$ (42,130)			(42,130)
Date of construction	2014
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 188,562
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 42,130
Unencumbered Apartment Communities \| Solstice \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Solstice \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Station Park Green - Phases I, II, and III
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	492
Initial cost
Land				54,782
Buildings and improvements				314,694
Costs capitalized subsequent to acquisition				282
Gross amount carried at close of period
Land and improvements				54,782
Buildings and improvements				314,976
Total	$ 369,758			369,758
Accumulated depreciation	$ (21,497)			(21,497)
Date of construction	2018
Date acquired	Mar-18
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 369,758
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 21,497
Unencumbered Apartment Communities \| Station Park Green - Phases I, II, and III \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Station Park Green - Phases I, II, and III \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Stevenson Place
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	200
Initial cost
Land				996
Buildings and improvements				5,582
Costs capitalized subsequent to acquisition				14,268
Gross amount carried at close of period
Land and improvements				1,001
Buildings and improvements				19,845
Total	$ 20,846			20,846
Accumulated depreciation	$ (15,706)			(15,706)
Date of construction	1975
Date acquired	Apr-00
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 20,846
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 15,706
Unencumbered Apartment Communities \| Stevenson Place \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Stevenson Place \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Stonehedge Village
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	196
Initial cost
Land				3,167
Buildings and improvements				12,603
Costs capitalized subsequent to acquisition				9,180
Gross amount carried at close of period
Land and improvements				3,201
Buildings and improvements				21,749
Total	$ 24,950			24,950
Accumulated depreciation	$ (15,989)			(15,989)
Date of construction	1986
Date acquired	Oct-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 24,950
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 15,989
Unencumbered Apartment Communities \| Stonehedge Village \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Stonehedge Village \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Summerhill Park
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	100
Initial cost
Land				2,654
Buildings and improvements				4,918
Costs capitalized subsequent to acquisition				11,257
Gross amount carried at close of period
Land and improvements				2,656
Buildings and improvements				16,173
Total	$ 18,829			18,829
Accumulated depreciation	$ (12,935)			(12,935)
Date of construction	1988
Date acquired	Sep-88
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 18,829
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 12,935
Unencumbered Apartment Communities \| Summerhill Park \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Summerhill Park \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Summit Park
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	300
Initial cost
Land				5,959
Buildings and improvements				23,670
Costs capitalized subsequent to acquisition				8,912
Gross amount carried at close of period
Land and improvements				5,977
Buildings and improvements				32,564
Total	$ 38,541			38,541
Accumulated depreciation	$ (19,893)			(19,893)
Date of construction	1972
Date acquired	Dec-02
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 38,541
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 19,893
Unencumbered Apartment Communities \| Summit Park \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Summit Park \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Taylor 28
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	197
Initial cost
Land				13,915
Buildings and improvements				57,700
Costs capitalized subsequent to acquisition				3,693
Gross amount carried at close of period
Land and improvements				13,915
Buildings and improvements				61,393
Total	$ 75,308			75,308
Accumulated depreciation	$ (15,413)			(15,413)
Date of construction	2008
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 75,308
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 15,413
Unencumbered Apartment Communities \| Taylor 28 \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Taylor 28 \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Audrey at Belltown
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	137
Initial cost
Land				9,228
Buildings and improvements				36,911
Costs capitalized subsequent to acquisition				2,050
Gross amount carried at close of period
Land and improvements				9,228
Buildings and improvements				38,961
Total	$ 48,189			48,189
Accumulated depreciation	$ (9,456)			(9,456)
Date of construction	1992
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 48,189
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,456
Unencumbered Apartment Communities \| The Audrey at Belltown \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| The Audrey at Belltown \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Avery
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	121
Initial cost
Land				6,964
Buildings and improvements				29,922
Costs capitalized subsequent to acquisition				889
Gross amount carried at close of period
Land and improvements				6,964
Buildings and improvements				30,811
Total	$ 37,775			37,775
Accumulated depreciation	$ (7,071)			(7,071)
Date of construction	2014
Date acquired	Mar-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 37,775
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 7,071
Unencumbered Apartment Communities \| The Avery \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Avery \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Bernard
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	63
Initial cost
Land				3,699
Buildings and improvements				11,345
Costs capitalized subsequent to acquisition				884
Gross amount carried at close of period
Land and improvements				3,689
Buildings and improvements				12,239
Total	$ 15,928			15,928
Accumulated depreciation	$ (4,075)			(4,075)
Date of construction	2008
Date acquired	Sep-11
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 15,928
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 4,075
Unencumbered Apartment Communities \| The Bernard \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Bernard \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Blake LA
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	196
Initial cost
Land				4,023
Buildings and improvements				9,527
Costs capitalized subsequent to acquisition				24,135
Gross amount carried at close of period
Land and improvements				4,031
Buildings and improvements				33,654
Total	$ 37,685			37,685
Accumulated depreciation	$ (20,615)			(20,615)
Date of construction	1979
Date acquired	Jun-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 37,685
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 20,615
Unencumbered Apartment Communities \| The Blake LA \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Blake LA \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Cairns
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	99
Initial cost
Land				6,937
Buildings and improvements				20,679
Costs capitalized subsequent to acquisition				2,586
Gross amount carried at close of period
Land and improvements				6,939
Buildings and improvements				23,263
Total	$ 30,202			30,202
Accumulated depreciation	$ (10,874)			(10,874)
Date of construction	2006
Date acquired	Jun-07
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 30,202
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 10,874
Unencumbered Apartment Communities \| The Cairns \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Cairns \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Commons
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	264
Initial cost
Land				12,555
Buildings and improvements				29,307
Costs capitalized subsequent to acquisition				9,940
Gross amount carried at close of period
Land and improvements				12,556
Buildings and improvements				39,246
Total	$ 51,802			51,802
Accumulated depreciation	$ (16,958)			(16,958)
Date of construction	1973
Date acquired	Jul-10
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 51,802
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 16,958
Unencumbered Apartment Communities \| The Commons \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Commons \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Elliot at Mukilteo
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	301
Initial cost
Land				2,498
Buildings and improvements				10,595
Costs capitalized subsequent to acquisition				18,928
Gross amount carried at close of period
Land and improvements				2,824
Buildings and improvements				29,197
Total	$ 32,021			32,021
Accumulated depreciation	$ (22,866)			(22,866)
Date of construction	1981
Date acquired	Jan-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 32,021
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 22,866
Unencumbered Apartment Communities \| The Elliot at Mukilteo \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Elliot at Mukilteo \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Galloway
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	506
Initial cost
Land				32,966
Buildings and improvements				184,499
Costs capitalized subsequent to acquisition				488
Gross amount carried at close of period
Land and improvements				32,966
Buildings and improvements				184,987
Total	$ 217,953			217,953
Accumulated depreciation	$ (6,214)			(6,214)
Date of construction	2016
Date acquired	Jan-20
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 217,953
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 6,214
Unencumbered Apartment Communities \| The Galloway \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Galloway \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Grand
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	243
Initial cost
Land				4,531
Buildings and improvements				89,208
Costs capitalized subsequent to acquisition				7,518
Gross amount carried at close of period
Land and improvements				4,531
Buildings and improvements				96,726
Total	$ 101,257			101,257
Accumulated depreciation	$ (40,981)			(40,981)
Date of construction	2009
Date acquired	Jan-09
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 101,257
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 40,981
Unencumbered Apartment Communities \| The Grand \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Grand \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Hallie
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	292
Initial cost
Land				2,202
Buildings and improvements				4,794
Costs capitalized subsequent to acquisition				55,653
Gross amount carried at close of period
Land and improvements				8,385
Buildings and improvements				54,264
Total	$ 62,649			62,649
Accumulated depreciation	$ (39,551)			(39,551)
Date of construction	1972
Date acquired	Apr-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 62,649
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 39,551
Unencumbered Apartment Communities \| The Hallie \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Hallie \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Huntington
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	276
Initial cost
Land				10,374
Buildings and improvements				41,495
Costs capitalized subsequent to acquisition				7,036
Gross amount carried at close of period
Land and improvements				10,374
Buildings and improvements				48,531
Total	$ 58,905			58,905
Accumulated depreciation	$ (15,784)			(15,784)
Date of construction	1975
Date acquired	Jun-12
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 58,905
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 15,784
Unencumbered Apartment Communities \| The Huntington \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Huntington \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Landing at Jack London Square
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	282
Initial cost
Land				33,554
Buildings and improvements				78,292
Costs capitalized subsequent to acquisition				7,860
Gross amount carried at close of period
Land and improvements				33,554
Buildings and improvements				86,152
Total	$ 119,706			119,706
Accumulated depreciation	$ (23,251)			(23,251)
Date of construction	2001
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 119,706
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 23,251
Unencumbered Apartment Communities \| The Landing at Jack London Square \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| The Landing at Jack London Square \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Lofts at Pinehurst
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	118
Initial cost
Land				1,570
Buildings and improvements				3,912
Costs capitalized subsequent to acquisition				5,699
Gross amount carried at close of period
Land and improvements				1,618
Buildings and improvements				9,563
Total	$ 11,181			11,181
Accumulated depreciation	$ (6,616)			(6,616)
Date of construction	1971
Date acquired	Jun-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 11,181
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 6,616
Unencumbered Apartment Communities \| The Lofts at Pinehurst \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Lofts at Pinehurst \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Palisades
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	192
Initial cost
Land				1,560
Buildings and improvements				6,242
Costs capitalized subsequent to acquisition				13,990
Gross amount carried at close of period
Land and improvements				1,565
Buildings and improvements				20,227
Total	$ 21,792			21,792
Accumulated depreciation	$ (18,275)			(18,275)
Date of construction	1977
Date acquired	May-90
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 21,792
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 18,275
Unencumbered Apartment Communities \| The Palisades \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Palisades \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Palms at Laguna Niguel
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	460
Initial cost
Land				23,584
Buildings and improvements				94,334
Costs capitalized subsequent to acquisition				12,080
Gross amount carried at close of period
Land and improvements				23,584
Buildings and improvements				106,414
Total	$ 129,998			129,998
Accumulated depreciation	$ (27,812)			(27,812)
Date of construction	1988
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 129,998
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 27,812
Unencumbered Apartment Communities \| The Palms at Laguna Niguel \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| The Palms at Laguna Niguel \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Stuart
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	188
Initial cost
Land				13,574
Buildings and improvements				54,298
Costs capitalized subsequent to acquisition				3,098
Gross amount carried at close of period
Land and improvements				13,574
Buildings and improvements				57,396
Total	$ 70,970			70,970
Accumulated depreciation	$ (14,822)			(14,822)
Date of construction	2007
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 70,970
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 14,822
Unencumbered Apartment Communities \| The Stuart \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| The Stuart \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Trails of Redmond
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	423
Initial cost
Land				21,930
Buildings and improvements				87,720
Costs capitalized subsequent to acquisition				6,031
Gross amount carried at close of period
Land and improvements				21,930
Buildings and improvements				93,751
Total	$ 115,681			115,681
Accumulated depreciation	$ (23,961)			(23,961)
Date of construction	1985
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 115,681
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 23,961
Unencumbered Apartment Communities \| The Trails of Redmond \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| The Trails of Redmond \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| The Waterford
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	238
Initial cost
Land				11,808
Buildings and improvements				24,500
Costs capitalized subsequent to acquisition				17,968
Gross amount carried at close of period
Land and improvements				15,165
Buildings and improvements				39,111
Total	$ 54,276			54,276
Accumulated depreciation	$ (25,616)			(25,616)
Date of construction	2000
Date acquired	Jun-00
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 54,276
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 25,616
Unencumbered Apartment Communities \| The Waterford \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| The Waterford \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Tierra Vista
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	404
Initial cost
Land				13,652
Buildings and improvements				53,336
Costs capitalized subsequent to acquisition				7,831
Gross amount carried at close of period
Land and improvements				13,661
Buildings and improvements				61,158
Total	$ 74,819			74,819
Accumulated depreciation	$ (34,469)			(34,469)
Date of construction	2001
Date acquired	Jan-01
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 74,819
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 34,469
Unencumbered Apartment Communities \| Tierra Vista \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Tierra Vista \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Tiffany Court
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	101
Initial cost
Land				6,949
Buildings and improvements				27,796
Costs capitalized subsequent to acquisition				2,042
Gross amount carried at close of period
Land and improvements				6,949
Buildings and improvements				29,838
Total	$ 36,787			36,787
Accumulated depreciation	$ (7,574)			(7,574)
Date of construction	1987
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 36,787
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 7,574
Unencumbered Apartment Communities \| Tiffany Court \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Tiffany Court \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Trabucco Villas
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	132
Initial cost
Land				3,638
Buildings and improvements				8,640
Costs capitalized subsequent to acquisition				4,292
Gross amount carried at close of period
Land and improvements				3,890
Buildings and improvements				12,680
Total	$ 16,570			16,570
Accumulated depreciation	$ (9,358)			(9,358)
Date of construction	1985
Date acquired	Oct-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 16,570
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 9,358
Unencumbered Apartment Communities \| Trabucco Villas \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Trabucco Villas \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Valley Park
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	160
Initial cost
Land				3,361
Buildings and improvements				13,420
Costs capitalized subsequent to acquisition				6,653
Gross amount carried at close of period
Land and improvements				3,761
Buildings and improvements				19,673
Total	$ 23,434			23,434
Accumulated depreciation	$ (12,488)			(12,488)
Date of construction	1969
Date acquired	Nov-01
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 23,434
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 12,488
Unencumbered Apartment Communities \| Via
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	284
Initial cost
Land				22,000
Buildings and improvements				82,270
Costs capitalized subsequent to acquisition				3,630
Gross amount carried at close of period
Land and improvements				22,016
Buildings and improvements				85,884
Total	$ 107,900			107,900
Accumulated depreciation	$ (30,810)			(30,810)
Date of construction	2011
Date acquired	Jul-11
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 107,900
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 30,810
Unencumbered Apartment Communities \| Via \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Via \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Villa Angelina
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	256
Initial cost
Land				4,498
Buildings and improvements				17,962
Costs capitalized subsequent to acquisition				8,173
Gross amount carried at close of period
Land and improvements				4,962
Buildings and improvements				25,671
Total	$ 30,633			30,633
Accumulated depreciation	$ (16,856)			(16,856)
Date of construction	1970
Date acquired	Nov-01
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 30,633
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 16,856
Unencumbered Apartment Communities \| Villa Granada
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	270
Initial cost
Land				38,299
Buildings and improvements				89,365
Costs capitalized subsequent to acquisition				1,974
Gross amount carried at close of period
Land and improvements				38,299
Buildings and improvements				91,339
Total	$ 129,638			129,638
Accumulated depreciation	$ (22,819)			(22,819)
Date of construction	2010
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 129,638
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 22,819
Unencumbered Apartment Communities \| Villa Granada \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Villa Granada \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Villa Siena
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	272
Initial cost
Land				13,842
Buildings and improvements				55,367
Costs capitalized subsequent to acquisition				9,356
Gross amount carried at close of period
Land and improvements				13,842
Buildings and improvements				64,723
Total	$ 78,565			78,565
Accumulated depreciation	$ (17,830)			(17,830)
Date of construction	1974
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 78,565
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 17,830
Unencumbered Apartment Communities \| Villa Siena \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Villa Siena \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Village Green
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	272
Initial cost
Land				6,488
Buildings and improvements				36,768
Costs capitalized subsequent to acquisition				4,309
Gross amount carried at close of period
Land and improvements				6,488
Buildings and improvements				41,077
Total	$ 47,565			47,565
Accumulated depreciation	$ (11,151)			(11,151)
Date of construction	1971
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 47,565
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 11,151
Unencumbered Apartment Communities \| Village Green \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Village Green \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Vista Belvedere
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	76
Initial cost
Land				5,573
Buildings and improvements				11,901
Costs capitalized subsequent to acquisition				9,031
Gross amount carried at close of period
Land and improvements				5,573
Buildings and improvements				20,932
Total	$ 26,505			26,505
Accumulated depreciation	$ (13,068)			(13,068)
Date of construction	1963
Date acquired	Aug-04
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 26,505
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 13,068
Unencumbered Apartment Communities \| Vista Belvedere \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Vista Belvedere \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Vox Apartments
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	58
Initial cost
Land				5,545
Buildings and improvements				16,635
Costs capitalized subsequent to acquisition				435
Gross amount carried at close of period
Land and improvements				5,545
Buildings and improvements				17,070
Total	$ 22,615			22,615
Accumulated depreciation	$ (4,158)			(4,158)
Date of construction	2013
Date acquired	Oct-13
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 22,615
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 4,158
Unencumbered Apartment Communities \| Vox Apartments \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Vox Apartments \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Walnut Heights
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	163
Initial cost
Land				4,858
Buildings and improvements				19,168
Costs capitalized subsequent to acquisition				5,868
Gross amount carried at close of period
Land and improvements				4,887
Buildings and improvements				25,007
Total	$ 29,894			29,894
Accumulated depreciation	$ (14,831)			(14,831)
Date of construction	1964
Date acquired	Oct-03
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 29,894
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 14,831
Unencumbered Apartment Communities \| Walnut Heights \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Walnut Heights \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Wandering Creek
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	156
Initial cost
Land				1,285
Buildings and improvements				4,980
Costs capitalized subsequent to acquisition				5,345
Gross amount carried at close of period
Land and improvements				1,296
Buildings and improvements				10,314
Total	$ 11,610			11,610
Accumulated depreciation	$ (8,403)			(8,403)
Date of construction	1986
Date acquired	Nov-95
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 11,610
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 8,403
Unencumbered Apartment Communities \| Wandering Creek \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Wandering Creek \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Wharfside Pointe
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	155
Initial cost
Land				2,245
Buildings and improvements				7,020
Costs capitalized subsequent to acquisition				13,442
Gross amount carried at close of period
Land and improvements				2,258
Buildings and improvements				20,449
Total	$ 22,707			22,707
Accumulated depreciation	$ (15,891)			(15,891)
Date of construction	1990
Date acquired	Jun-94
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 22,707
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 15,891
Unencumbered Apartment Communities \| Wharfside Pointe \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Wharfside Pointe \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Willow Lake
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	508
Initial cost
Land				43,194
Buildings and improvements				101,030
Costs capitalized subsequent to acquisition				17,140
Gross amount carried at close of period
Land and improvements				43,194
Buildings and improvements				118,170
Total	$ 161,364			161,364
Accumulated depreciation	$ (37,680)			(37,680)
Date of construction	1989
Date acquired	Oct-12
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 161,364
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 37,680
Unencumbered Apartment Communities \| Willow Lake \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Willow Lake \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| 5600 Wilshire
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	284
Initial cost
Land				30,535
Buildings and improvements				91,604
Costs capitalized subsequent to acquisition				5,049
Gross amount carried at close of period
Land and improvements				30,535
Buildings and improvements				96,653
Total	$ 127,188			127,188
Accumulated depreciation	$ (23,763)			(23,763)
Date of construction	2008
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 127,188
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 23,763
Unencumbered Apartment Communities \| 5600 Wilshire \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| 5600 Wilshire \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Wilshire La Brea
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	478
Initial cost
Land				56,932
Buildings and improvements				211,998
Costs capitalized subsequent to acquisition				11,972
Gross amount carried at close of period
Land and improvements				56,932
Buildings and improvements				223,970
Total	$ 280,902			280,902
Accumulated depreciation	$ (60,187)			(60,187)
Date of construction	2014
Date acquired	Apr-14
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 280,902
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 60,187
Unencumbered Apartment Communities \| Wilshire La Brea \| Minimum
Gross amount carried at close of period
Life used for depreciation	5 years
Unencumbered Apartment Communities \| Wilshire La Brea \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Wilshire Promenade
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	149
Initial cost
Land				3,118
Buildings and improvements				7,385
Costs capitalized subsequent to acquisition				12,572
Gross amount carried at close of period
Land and improvements				3,797
Buildings and improvements				19,278
Total	$ 23,075			23,075
Accumulated depreciation	$ (12,881)			(12,881)
Date of construction	1992
Date acquired	Jan-97
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 23,075
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 12,881
Unencumbered Apartment Communities \| Wilshire Promenade \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Wilshire Promenade \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Windsor Ridge
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	216
Initial cost
Land				4,017
Buildings and improvements				10,315
Costs capitalized subsequent to acquisition				17,003
Gross amount carried at close of period
Land and improvements				4,021
Buildings and improvements				27,314
Total	$ 31,335			31,335
Accumulated depreciation	$ (23,963)			(23,963)
Date of construction	1989
Date acquired	Mar-89
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 31,335
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 23,963
Unencumbered Apartment Communities \| Windsor Ridge \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Windsor Ridge \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Woodland Commons
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	302
Initial cost
Land				2,040
Buildings and improvements				8,727
Costs capitalized subsequent to acquisition				24,952
Gross amount carried at close of period
Land and improvements				2,044
Buildings and improvements				33,675
Total	$ 35,719			35,719
Accumulated depreciation	$ (24,474)			(24,474)
Date of construction	1978
Date acquired	Mar-90
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 35,719
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 24,474
Unencumbered Apartment Communities \| Woodland Commons \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Woodland Commons \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Unencumbered Apartment Communities \| Woodside Village
Real Estate and Accumulated Depreciation [Line Items]
Units \| apartment	145
Initial cost
Land				5,331
Buildings and improvements				21,036
Costs capitalized subsequent to acquisition				5,855
Gross amount carried at close of period
Land and improvements				5,341
Buildings and improvements				26,881
Total	$ 32,222			32,222
Accumulated depreciation	$ (14,838)			(14,838)
Date of construction	1987
Date acquired	Dec-04
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	$ 32,222
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	$ 14,838
Unencumbered Apartment Communities \| Woodside Village \| Minimum
Gross amount carried at close of period
Life used for depreciation	3 years
Unencumbered Apartment Communities \| Woodside Village \| Maximum
Gross amount carried at close of period
Life used for depreciation	30 years
Other Property
Initial cost
Land				3,079
Buildings and improvements				12,315
Costs capitalized subsequent to acquisition				14,279
Gross amount carried at close of period
Land and improvements				3,909
Buildings and improvements				25,764
Total	$ 29,673			29,673
Accumulated depreciation	(18,859)			(18,859)
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	29,673
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	18,859
Other Property \| Other real estate assets
Initial cost
Land				3,079
Buildings and improvements				12,315
Costs capitalized subsequent to acquisition				14,279
Gross amount carried at close of period
Land and improvements				3,909
Buildings and improvements				25,764
Total	29,673			29,673
Accumulated depreciation	(18,859)			(18,859)
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the end of year	29,673
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the end of year	18,859
Real Estate Rental Property
Gross amount carried at close of period
Total	14,038,142	13,366,101	13,366,101	$ 15,061,745
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at beginning of year	14,038,142	13,366,101	13,362,073
Balance at the end of year	$ 15,061,745	$ 14,038,142	$ 13,366,101