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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenues:      
Rental and other property $ 959,958us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue $ 602,003us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue $ 526,696us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue
Management and other fees from affiliates 9,347us-gaap_ManagementFeesRevenue 7,263us-gaap_ManagementFeesRevenue 8,457us-gaap_ManagementFeesRevenue
Total revenues 969,305us-gaap_SalesRevenueNet 609,266us-gaap_SalesRevenueNet 535,153us-gaap_SalesRevenueNet
Expenses:      
Property operating, excluding real estate taxes 203,040us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment 138,736us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment 123,813us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment
Real estate taxes 107,873us-gaap_RealEstateTaxExpense 57,276us-gaap_RealEstateTaxExpense 48,354us-gaap_RealEstateTaxExpense
Depreciation and amortization 360,592us-gaap_Depreciation 192,420us-gaap_Depreciation 169,173us-gaap_Depreciation
General and administrative 40,878us-gaap_GeneralAndAdministrativeExpense 26,684us-gaap_GeneralAndAdministrativeExpense 24,573us-gaap_GeneralAndAdministrativeExpense
Merger and integration expenses 53,530us-gaap_BusinessCombinationAcquisitionRelatedCosts 4,284us-gaap_BusinessCombinationAcquisitionRelatedCosts 0us-gaap_BusinessCombinationAcquisitionRelatedCosts
Acquisition and disposition costs 1,878ess_BusinessAcquisitionAndDispositionCosts 1,161ess_BusinessAcquisitionAndDispositionCosts 2,215ess_BusinessAcquisitionAndDispositionCosts
Total expenses 767,791us-gaap_CostsAndExpenses 420,561us-gaap_CostsAndExpenses 368,128us-gaap_CostsAndExpenses
Earnings from operations 201,514us-gaap_OperatingIncomeLoss 188,705us-gaap_OperatingIncomeLoss 167,025us-gaap_OperatingIncomeLoss
Interest expense (164,551)us-gaap_InterestExpense (116,524)us-gaap_InterestExpense (111,888)us-gaap_InterestExpense
Interest and other income 11,811us-gaap_InterestAndOtherIncome 11,633us-gaap_InterestAndOtherIncome 13,833us-gaap_InterestAndOtherIncome
Equity income from co-investments 39,893us-gaap_IncomeLossFromEquityMethodInvestments 55,865us-gaap_IncomeLossFromEquityMethodInvestments 41,745us-gaap_IncomeLossFromEquityMethodInvestments
Loss on early retirement of debt, net (268)us-gaap_GainsLossesOnExtinguishmentOfDebt (300)us-gaap_GainsLossesOnExtinguishmentOfDebt (5,009)us-gaap_GainsLossesOnExtinguishmentOfDebt
Gain on sale of real estate and land 46,039us-gaap_GainsLossesOnSalesOfAssets 1,503us-gaap_GainsLossesOnSalesOfAssets 0us-gaap_GainsLossesOnSalesOfAssets
Gain on remeasurement of co-investment 0ess_GainOnRemeasurementOfCoInvestment 0ess_GainOnRemeasurementOfCoInvestment 21,947ess_GainOnRemeasurementOfCoInvestment
Income before discontinued operations 134,438ess_IncomeLossBeforeDiscontinuedOperations 140,882ess_IncomeLossBeforeDiscontinuedOperations 127,653ess_IncomeLossBeforeDiscontinuedOperations
Income from discontinued operations 0us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax 31,173us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax 11,937us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
Net income 134,438us-gaap_ProfitLoss 172,055us-gaap_ProfitLoss 139,590us-gaap_ProfitLoss
Net income attributable to noncontrolling interest (12,288)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (15,772)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (14,306)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income attributable to controlling interest 122,150us-gaap_NetIncomeLoss 156,283us-gaap_NetIncomeLoss 125,284us-gaap_NetIncomeLoss
Dividends to preferred stockholders (5,291)us-gaap_PreferredStockDividendsIncomeStatementImpact (5,472)us-gaap_PreferredStockDividendsIncomeStatementImpact (5,472)us-gaap_PreferredStockDividendsIncomeStatementImpact
Net income available to common stockholders 116,859us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 150,811us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 119,812us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Basic:      
Income before discontinued operations available to common stockholders (in dollars per share) $ 2.07ess_IncomeAvailableToCommonStockholdersBasic $ 3.26ess_IncomeAvailableToCommonStockholdersBasic $ 3.10ess_IncomeAvailableToCommonStockholdersBasic
Income from discontinued operations available to common stockholders (in dollars per share) $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.79us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.32us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
Net income available to common stockholders (in dollars per share) $ 2.07us-gaap_EarningsPerShareBasic $ 4.05us-gaap_EarningsPerShareBasic $ 3.42us-gaap_EarningsPerShareBasic
Weighted average number of shares outstanding during the year 56,546,959us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 37,248,960us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 35,032,491us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted:      
Income before discontinued operations available to common stockholders (in dollars per share) $ 2.06ess_IncomeBeforeDiscontinuedOperationsAvailableToCommonStockholdersDiluted $ 3.25ess_IncomeBeforeDiscontinuedOperationsAvailableToCommonStockholdersDiluted $ 3.09ess_IncomeBeforeDiscontinuedOperationsAvailableToCommonStockholdersDiluted
Income from discontinued operations available to common stockholders (in dollars per share) $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.79us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.32us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Net income available to common stockholders (in dollars per share) $ 2.06us-gaap_EarningsPerShareDiluted $ 4.04us-gaap_EarningsPerShareDiluted $ 3.41us-gaap_EarningsPerShareDiluted
Weighted average number of shares outstanding during the year 56,696,525us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 37,335,295us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 35,124,921us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Essex Portfolio, L.P. [Member]      
Revenues:      
Rental and other property 959,958us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
602,003us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
526,696us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Management and other fees from affiliates 9,347us-gaap_ManagementFeesRevenue
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
7,263us-gaap_ManagementFeesRevenue
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
8,457us-gaap_ManagementFeesRevenue
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Total revenues 969,305us-gaap_SalesRevenueNet
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
609,266us-gaap_SalesRevenueNet
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
535,153us-gaap_SalesRevenueNet
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Expenses:      
Property operating, excluding real estate taxes 203,040us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
138,736us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
123,813us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Real estate taxes 107,873us-gaap_RealEstateTaxExpense
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
57,276us-gaap_RealEstateTaxExpense
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
48,354us-gaap_RealEstateTaxExpense
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Depreciation and amortization 360,592us-gaap_Depreciation
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
192,420us-gaap_Depreciation
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
169,173us-gaap_Depreciation
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
General and administrative 40,878us-gaap_GeneralAndAdministrativeExpense
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
26,684us-gaap_GeneralAndAdministrativeExpense
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
24,573us-gaap_GeneralAndAdministrativeExpense
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Merger and integration expenses 53,530us-gaap_BusinessCombinationAcquisitionRelatedCosts
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
4,284us-gaap_BusinessCombinationAcquisitionRelatedCosts
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
0us-gaap_BusinessCombinationAcquisitionRelatedCosts
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Acquisition and disposition costs 1,878ess_BusinessAcquisitionAndDispositionCosts
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
1,161ess_BusinessAcquisitionAndDispositionCosts
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
2,215ess_BusinessAcquisitionAndDispositionCosts
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Total expenses 767,791us-gaap_CostsAndExpenses
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
420,561us-gaap_CostsAndExpenses
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
368,128us-gaap_CostsAndExpenses
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Earnings from operations 201,514us-gaap_OperatingIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
188,705us-gaap_OperatingIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
167,025us-gaap_OperatingIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Interest expense (164,551)us-gaap_InterestExpense
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(116,524)us-gaap_InterestExpense
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(111,888)us-gaap_InterestExpense
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Interest and other income 11,811us-gaap_InterestAndOtherIncome
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
11,633us-gaap_InterestAndOtherIncome
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
13,833us-gaap_InterestAndOtherIncome
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Equity income from co-investments 39,893us-gaap_IncomeLossFromEquityMethodInvestments
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
55,865us-gaap_IncomeLossFromEquityMethodInvestments
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
41,745us-gaap_IncomeLossFromEquityMethodInvestments
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Loss on early retirement of debt, net (268)us-gaap_GainsLossesOnExtinguishmentOfDebt
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(300)us-gaap_GainsLossesOnExtinguishmentOfDebt
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(5,009)us-gaap_GainsLossesOnExtinguishmentOfDebt
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Gain on sale of real estate and land 46,039us-gaap_GainsLossesOnSalesOfAssets
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
1,503us-gaap_GainsLossesOnSalesOfAssets
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
0us-gaap_GainsLossesOnSalesOfAssets
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Gain on remeasurement of co-investment 0ess_GainOnRemeasurementOfCoInvestment
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
0ess_GainOnRemeasurementOfCoInvestment
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
21,947ess_GainOnRemeasurementOfCoInvestment
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Income before discontinued operations 134,438ess_IncomeLossBeforeDiscontinuedOperations
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
140,882ess_IncomeLossBeforeDiscontinuedOperations
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
127,653ess_IncomeLossBeforeDiscontinuedOperations
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Income from discontinued operations 0us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
31,173us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
11,937us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Net income 134,438us-gaap_ProfitLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
172,055us-gaap_ProfitLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
139,590us-gaap_ProfitLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Net income attributable to noncontrolling interest (7,421)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(6,834)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(6,347)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Net income attributable to controlling interest 127,017us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
165,221us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
133,243us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Preferred interest distributions - Series F, G, & H (5,291)ess_PreferredInterestDistributions
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(5,472)ess_PreferredInterestDistributions
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(5,472)ess_PreferredInterestDistributions
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Net income available to common stockholders $ 121,726us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 159,749us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 127,771us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Basic:      
Income before discontinued operations available to common stockholders (in dollars per share) $ 2.07ess_IncomeAvailableToCommonStockholdersBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 3.27ess_IncomeAvailableToCommonStockholdersBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 3.11ess_IncomeAvailableToCommonStockholdersBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Income from discontinued operations available to common stockholders (in dollars per share) $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 0.79us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 0.32us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Net income available to common stockholders (in dollars per share) $ 2.07us-gaap_EarningsPerShareBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 4.06us-gaap_EarningsPerShareBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 3.43us-gaap_EarningsPerShareBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Weighted average number of shares outstanding during the year 58,771,666us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
39,380,385us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
37,251,537us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Diluted:      
Income before discontinued operations available to common stockholders (in dollars per share) $ 2.07ess_IncomeBeforeDiscontinuedOperationsAvailableToCommonStockholdersDiluted
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 3.26ess_IncomeBeforeDiscontinuedOperationsAvailableToCommonStockholdersDiluted
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 3.10ess_IncomeBeforeDiscontinuedOperationsAvailableToCommonStockholdersDiluted
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Income from discontinued operations available to common stockholders (in dollars per share) $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 0.79us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 0.32us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Net income available to common stockholders (in dollars per share) $ 2.07us-gaap_EarningsPerShareDiluted
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 4.05us-gaap_EarningsPerShareDiluted
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ 3.42us-gaap_EarningsPerShareDiluted
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Weighted average number of shares outstanding during the year 58,921,232us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
39,466,720us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
37,343,967us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember