Investments in Partially Owned Entities (Tables)

3 Months Ended

Mar. 31, 2024

Investments In Partially Owned Entities [Abstract]

Summary of Company's Consolidated Joint Ventures

The following table summarizes the Company’s consolidated joint ventures as of March 31, 2024:

	Operating Properties (1)				Projects Under Development (2)
	Properties		Apartment Units		Projects		Apartment Units (3)
Consolidated Joint Ventures (VIE)		14		3,060		1		440

(1)The land parcel under one of the properties is subject to a long-term ground lease.

(2)Represents separate consolidated joint ventures for the purpose of developing multifamily rental properties.

(3)Represents the intended number of apartment units to be developed.

Summary of Consolidated Assets and Liabilities Related to the Company's VIEs

The following table provides consolidated assets and liabilities related to the Company's VIEs as of March 31, 2024 and December 31, 2023 (amounts in thousands):

	March 31, 2024		December 31, 2023
Consolidated Assets	$	602,865	$	599,788
Consolidated Liabilities	$	45,943	$	41,153

Summary of Company's Investment in Unconsolidated Entities

The following table and information summarizes the Company’s investments in unconsolidated entities as of March 31, 2024 and December 31, 2023 (amounts in thousands except for ownership percentage):

	March 31, 2024			December 31, 2023			Ownership Percentage
Investments in Unconsolidated Entities:
Various Real Estate Holdings (VIE)	$	35,267		$	35,421		Varies
Projects Under Development and Land Held for Development (VIE)		227,349			220,192		62% - 95% (1)
Real Estate Technology Funds/Companies (VIE)		26,903			26,691		Varies
Other		(247	)		(255	)	Varies
Investments in Unconsolidated Entities	$	289,272		$	282,049

(1)In certain instances, the joint venture agreements contain provisions for promoted interests in favor of our joint venture partner. If the terms of the promoted interest are attained, then our share of the proceeds from a sale or other capital event of the unconsolidated entity may be less than the indicated ownership percentage.

Summary of Company's Unconsolidated Joint Ventures Deemed to be VIEs

The following table summarizes the Company’s unconsolidated joint ventures that were deemed to be VIEs as of March 31, 2024:

	Real Estate Holdings (1)		Projects Under Development (2), (5)				Projects Held for Development (2), (3)
	Entities		Projects		Apartment Units (4)		Projects		Apartment Units (4)
Unconsolidated Joint Ventures (VIE)		3		6		1,982		4		1,164

(1)Represents entities that hold various real estate investments.

(2)Represents separate unconsolidated joint ventures for the purpose of developing multifamily rental properties.

(3)Represents separate unconsolidated joint ventures that have not yet started.

(4)Represents the intended number of apartment units to be developed.

(5)The land parcel under one of the projects is subject to a long-term ground lease.