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Pay vs Performance Disclosure
3 Months Ended 9 Months Ended 12 Months Ended
Mar. 30, 2023
Dec. 31, 2023
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Pay vs Performance Disclosure            
Pay vs Performance Disclosure, Table    
Year
Summary Compensation Table Total for Anne Olson(1)
($)
Compensation Actually Paid to Anne Olson(2)
($)
Summary Compensation Table Total for Mark Decker(3)
($)
Compensation Actually Paid to Mark Decker(2)
($)
Average Summary Compensation Table Total for Non-PEO NEOs(4)
($)
Average Compensation Actually Paid to Non-PEO NEOs(2)(4)
($)
Value of Initial Fixed $100 Investment Based on:Net Income (Loss)
$ in thousands
Core FFO per Diluted Share
($)
Total Shareholder Return(5)
Peer Group Shareholder Return(5)
20232,209,6872,070,3263,561,7542,515,6621,607,3361,560,425929734,8974.78
20222,012,036(1,803,086)921,797108,71894102(20,537)4.43
20212,307,7705,287,9041,244,2092,521,725159149(6,457)3.99
20201,675,2702,013,950918,1381,071,04810092(1,790)3.78
     
Company Selected Measure Name     Core FFO per diluted share      
Named Executive Officers, Footnote     Anne Olson was our CEO for a portion of 2023 from March 31, 2023 to December 31, 2023.Mr. Decker was our CEO during 2020, 2021, 2022, and a portion of 2023 from January 1, 2023 to March 31, 2023.Our non-PEO NEOs included: (a) Ms. Olson, who was the Chief Operating Officer and General Counsel during 2020, 2021 and 2022; (b) Mr. Kirchmann, who was the Chief Financial Officer during 2020, 2021 and a portion of 2022 from January 1, 2022 to January 10, 2022; and (c) Mr. Patel, who was the Chief Financial Officer during a portion of 2022 from January 10, 2022 to December 31, 2022 and 2023. For 2022, amounts include all compensation paid to both Mr. Kirchmann and Mr. Patel.      
Peer Group Issuers, Footnote     TSR is determined based on the value of an initial fixed investment of $100. Our TSR peer group consists of the FTSE Nareit Equity Apartments Index.      
PEO Total Compensation Amount       $ 2,012,036 $ 2,307,770 $ 1,675,270
PEO Actually Paid Compensation Amount       (1,803,086) 5,287,904 2,013,950
Adjustment To PEO Compensation, Footnote     SEC rules require certain adjustments to be made to the Summary Compensation Table totals to determine compensation actually paid as reported in the Pay Versus Performance table. Compensation actually paid does not necessarily represent cash or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. In general compensation actually paid is calculated as Summary Compensation Table total compensation, adjusted to include the fair market value of equity awards as of December 31 of the applicable year or, if earlier, the vesting date (rather than the grant date), and dividends paid on restricted stock units as such calculations are shown in detail in the table below. NEOs do not participate in a defined benefit plan so no adjustment for pension benefits is included in the table below. The following table details these adjustments.
The fair value of equity awards includes the value of restricted stock units (“RSU”), stock options, and performance-based restricted stock units (“PSU”). The measurement date fair value of RSUs was determined based on the market price of our common shares on the measurement date. The measurement date fair value of stock options was determined using a Black-Scholes valuation model. The measurement date fair value of PSUs was determined using a Monte Carlo fair value simulation model.
YearExecutivesSummary Compensation Table Total
($)
Subtract LTIP Stock Awards and Stock Option Awards
($)
Add Year-End Equity Fair Value
($)
Change in Fair Value of Prior Equity Awards
($)
Change in Fair Value of Vested Equity Awards
($)
Dividend Equivalents Paid on Vested Equity Awards
($)
Compensation Actually Paid
($)
2023Anne Olson (PEO)2,209,687(1,008,431)962,493(26,982)(76,287)9,8462,070,326
Mark Decker (PEO)3,561,754(1,274,356)49,803(27,379)171,23934,6012,515,662
Non-PEO NEOs1,607,336(568,799)539,122(19,972)7711,9671,560,425
2022PEO2,012,036(1,234,306)349,746(2,642,404)(394,893)106,735(1,803,086)
Non-PEO NEOs921,797(416,117)130,466(454,443)(111,155)38,170108,718
2021PEO2,307,770(1,135,660)2,192,1881,659,253183,10581,2485,287,904
Non-PEO NEOs1,244,209(483,787)933,871688,85886,34152,2332,521,725
2020PEO1,675,270(784,668)1,072,26883,811(97,318)64,5872,013,950
Non-PEO NEOs918,138(323,471)442,02955,363(55,568)34,5571,071,048
______________________________________
     
Non-PEO NEO Average Total Compensation Amount     $ 1,607,336 921,797 1,244,209 918,138
Non-PEO NEO Average Compensation Actually Paid Amount     $ 1,560,425 108,718 2,521,725 1,071,048
Adjustment to Non-PEO NEO Compensation Footnote     SEC rules require certain adjustments to be made to the Summary Compensation Table totals to determine compensation actually paid as reported in the Pay Versus Performance table. Compensation actually paid does not necessarily represent cash or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. In general compensation actually paid is calculated as Summary Compensation Table total compensation, adjusted to include the fair market value of equity awards as of December 31 of the applicable year or, if earlier, the vesting date (rather than the grant date), and dividends paid on restricted stock units as such calculations are shown in detail in the table below. NEOs do not participate in a defined benefit plan so no adjustment for pension benefits is included in the table below. The following table details these adjustments.
The fair value of equity awards includes the value of restricted stock units (“RSU”), stock options, and performance-based restricted stock units (“PSU”). The measurement date fair value of RSUs was determined based on the market price of our common shares on the measurement date. The measurement date fair value of stock options was determined using a Black-Scholes valuation model. The measurement date fair value of PSUs was determined using a Monte Carlo fair value simulation model.
YearExecutivesSummary Compensation Table Total
($)
Subtract LTIP Stock Awards and Stock Option Awards
($)
Add Year-End Equity Fair Value
($)
Change in Fair Value of Prior Equity Awards
($)
Change in Fair Value of Vested Equity Awards
($)
Dividend Equivalents Paid on Vested Equity Awards
($)
Compensation Actually Paid
($)
2023Anne Olson (PEO)2,209,687(1,008,431)962,493(26,982)(76,287)9,8462,070,326
Mark Decker (PEO)3,561,754(1,274,356)49,803(27,379)171,23934,6012,515,662
Non-PEO NEOs1,607,336(568,799)539,122(19,972)7711,9671,560,425
2022PEO2,012,036(1,234,306)349,746(2,642,404)(394,893)106,735(1,803,086)
Non-PEO NEOs921,797(416,117)130,466(454,443)(111,155)38,170108,718
2021PEO2,307,770(1,135,660)2,192,1881,659,253183,10581,2485,287,904
Non-PEO NEOs1,244,209(483,787)933,871688,85886,34152,2332,521,725
2020PEO1,675,270(784,668)1,072,26883,811(97,318)64,5872,013,950
Non-PEO NEOs918,138(323,471)442,02955,363(55,568)34,5571,071,048
______________________________________
     
Compensation Actually Paid vs. Total Shareholder Return    
4804
     
Compensation Actually Paid vs. Net Income    
4809
     
Compensation Actually Paid vs. Company Selected Measure     4806      
Total Shareholder Return Vs Peer Group    
4804
     
Tabular List, Table    
Important Financial Performance Measures
Total shareholder return
Core FFO per diluted share
Same-store NOI growth
Adjusted EBITDA margin
     
Total Shareholder Return Amount     $ 92 94 159 100
Peer Group Total Shareholder Return Amount     97 102 149 92
Net Income (Loss)     $ 34,897,000 $ (20,537,000) $ (6,457,000) $ (1,790,000)
Company Selected Measure Amount | $ / shares     4.78 4.43 3.99 3.78
PEO Name Mr. Decker Anne Olson   Mr. Decker Mr. Decker Mr. Decker
Measure:: 1            
Pay vs Performance Disclosure            
Name     Total shareholder return      
Measure:: 2            
Pay vs Performance Disclosure            
Name     Core FFO per diluted share      
Measure:: 3            
Pay vs Performance Disclosure            
Name     Same-store NOI growth      
Measure:: 4            
Pay vs Performance Disclosure            
Name     Adjusted EBITDA margin      
Anne Olson [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     $ 2,209,687      
PEO Actually Paid Compensation Amount     2,070,326      
Mark Decker [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     3,561,754 $ 2,012,036 $ 2,307,770 $ 1,675,270
PEO Actually Paid Compensation Amount     2,515,662 (1,803,086) 5,287,904 2,013,950
PEO | Adjustment, Subtract LTIP Stock Awards And Stock Option Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount       (1,234,306) (1,135,660) (784,668)
PEO | Adjustment, Add Year-End Equity Fair Value [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount       349,746 2,192,188 1,072,268
PEO | Adjustment, Change In Fair Value Of Prior Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount       (2,642,404) 1,659,253 83,811
PEO | Adjustment, Change In Fair Value Of Vested Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount       (394,893) 183,105 (97,318)
PEO | Adjustment, Dividend Equivalents Paid On Vested Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount       106,735 81,248 64,587
PEO | Anne Olson [Member] | Adjustment, Subtract LTIP Stock Awards And Stock Option Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (1,008,431)      
PEO | Anne Olson [Member] | Adjustment, Add Year-End Equity Fair Value [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     962,493      
PEO | Anne Olson [Member] | Adjustment, Change In Fair Value Of Prior Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (26,982)      
PEO | Anne Olson [Member] | Adjustment, Change In Fair Value Of Vested Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (76,287)      
PEO | Anne Olson [Member] | Adjustment, Dividend Equivalents Paid On Vested Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     9,846      
PEO | Mark Decker [Member] | Adjustment, Subtract LTIP Stock Awards And Stock Option Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (1,274,356)      
PEO | Mark Decker [Member] | Adjustment, Add Year-End Equity Fair Value [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     49,803      
PEO | Mark Decker [Member] | Adjustment, Change In Fair Value Of Prior Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (27,379)      
PEO | Mark Decker [Member] | Adjustment, Change In Fair Value Of Vested Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     171,239      
PEO | Mark Decker [Member] | Adjustment, Dividend Equivalents Paid On Vested Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     34,601      
Non-PEO NEO | Adjustment, Subtract LTIP Stock Awards And Stock Option Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (568,799) (416,117) (483,787) (323,471)
Non-PEO NEO | Adjustment, Add Year-End Equity Fair Value [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     539,122 130,466 933,871 442,029
Non-PEO NEO | Adjustment, Change In Fair Value Of Prior Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (19,972) (454,443) 688,858 55,363
Non-PEO NEO | Adjustment, Change In Fair Value Of Vested Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     771 (111,155) 86,341 (55,568)
Non-PEO NEO | Adjustment, Dividend Equivalents Paid On Vested Equity Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     $ 1,967 $ 38,170 $ 52,233 $ 34,557