XML 60 R40.htm IDEA: XBRL DOCUMENT v3.19.3
Significant Transactions During the Nine Months Ended September 30, 2019 and Subsequent Events (Details)
1 Months Ended 3 Months Ended 9 Months Ended
Oct. 25, 2019
USD ($)
Sep. 30, 2019
USD ($)
apartment
$ / shares
Aug. 31, 2019
USD ($)
apartment
Jun. 30, 2019
USD ($)
apartment
May 31, 2019
USD ($)
Apr. 30, 2019
USD ($)
Mar. 31, 2019
USD ($)
Feb. 28, 2019
USD ($)
Jan. 31, 2019
USD ($)
shares
Sep. 30, 2019
USD ($)
$ / shares
shares
Sep. 30, 2018
USD ($)
Sep. 30, 2019
USD ($)
$ / shares
shares
Sep. 30, 2018
USD ($)
Aug. 01, 2019
USD ($)
Dec. 31, 2018
USD ($)
Other Commitments [Line Items]                              
Repayments of secured debt   $ 289,100,000             $ 290,000,000.0            
Gain on remeasurement of co-investment                   $ 0 $ 0 $ 31,535,000 $ 0    
Debt assumed in connection with acquisition                       143,006,000 0    
Gain on sale of real estate and land                   0 0 0 22,244,000    
Ownership interest of initial equity commitment   1,413,861,000               1,413,861,000   1,413,861,000     $ 1,300,140,000
Shares repurchased during period (in shares) | shares                 234,061            
Shares repurchased during period, value                 $ 57,000,000.0            
Purchase authority remaining under stock repurchase plan   $ 250,000,000.0           $ 250,000,000.0   250,000,000.0   250,000,000.0      
Sale of common stock, net                   $ 72,631,000 (130,000) $ 72,549,000 (483,000)    
Senior unsecured debt of coupon rate   5.69%             5.57% 5.69%   5.69%      
Proceeds from issuance of debt                       $ 892,762,000 298,773,000    
Gain on early retirement of debt, net   $ 5,500,000             $ 1,400,000 $ 5,475,000 $ 0 $ 7,143,000 $ 0    
Subsequent Event [Member]                              
Other Commitments [Line Items]                              
Proceeds from full redemption of a preferred equity investment in a joint venture $ 15,800,000                            
Early redemption fee 200,000                            
Senior Notes [Member] | Unsecured Notes, 4.0% Interest Rate, Due March 2029 [Member]                              
Other Commitments [Line Items]                              
Operating partner issued senior unsecured debt notes             $ 150,000,000.0 $ 350,000,000.0              
Senior unsecured debt of coupon rate               4.00%              
Debt offering price, percentage of par value             100.717% 99.188%              
Senior Notes [Member] | Unsecured Notes, 3.0% Interest Rate, Due January 2030 [Member]                              
Other Commitments [Line Items]                              
Operating partner issued senior unsecured debt notes     $ 400,000,000.0                        
Senior unsecured debt of coupon rate     3.00%                        
Debt offering price, percentage of par value     98.632%                        
Senior Notes [Member] | Unsecured Notes, 3.000% Interest Rate, Due January 2020 [Member] | Subsequent Event [Member]                              
Other Commitments [Line Items]                              
Proceeds from issuance of debt $ 150,000,000.0                            
Debt offering price, percentage of par value 101.685%                            
Common Stock [Member]                              
Other Commitments [Line Items]                              
Sale of common stock, net (in shares) | shares                   228,000   228,271      
Common stock dividends (in dollars per share) | $ / shares   $ 321.56               $ 321.56   $ 321.56      
Sale of common stock, net                       $ 73,400,000      
Brio, Walnut Creek, California [Member]                              
Other Commitments [Line Items]                              
Number of units acquired | apartment       300                      
Payments to acquire real estate       $ 164,900,000                      
Debt assumed in connection with acquisition       $ 98,700,000                      
Wesco V, LLC (Wesco V), Emeryville [Member]                              
Other Commitments [Line Items]                              
Number of units acquired | apartment     331                        
Payments to acquire real estate     $ 178,000,000.0                        
Debt assumed in connection with acquisition     $ 89,000,000.0                        
Wesco V, LLC (Wesco V), Emeryville [Member] | Loan of (LIBOR) [Member]                              
Other Commitments [Line Items]                              
Loan of the Company with an interest rate of LIBOR                           1.30%  
BEX IV, LLC (BEX IV), Menlo Park [Member]                              
Other Commitments [Line Items]                              
Number of units acquired | apartment     195                        
Payments to acquire real estate     $ 148,000,000.0                        
Debt assumed in connection with acquisition     $ 44,400,000                        
BEX IV, LLC (BEX IV), Menlo Park [Member] | Loan of (LIBOR) [Member]                              
Other Commitments [Line Items]                              
Loan of the Company with an interest rate of LIBOR                           3.25%  
Redwood City [Member]                              
Other Commitments [Line Items]                              
Number of units acquired | apartment   132                          
Payments to acquire real estate   $ 88,700,000                          
Acquisition of company assumed mortgage debt   44,300,000               $ 44,300,000   44,300,000      
BEX IV,Ownership Interest In The Joint Venture [Member]                              
Other Commitments [Line Items]                              
Limited partnership interest in partnership investments     50.10%                        
Ownership interest of initial equity commitment                           $ 52,200,000  
Multifamily Development in Mountain View, California [Member]                              
Other Commitments [Line Items]                              
Commitment to fund preferred equity investment               $ 24,500,000              
Preferred returns rate               11.00%              
San Jose, CA [Member]                              
Other Commitments [Line Items]                              
Proceeds from full redemption of a preferred equity investment in a joint venture               $ 10,900,000              
Early redemption fee               $ 100,000              
Multifamily Development Community in Irvine, California [Member]                              
Other Commitments [Line Items]                              
Commitment to fund preferred equity investment             $ 36,000,000.0                
Preferred returns rate             10.15%                
Funded commitment amount   21,600,000               21,600,000   21,600,000      
Joint Venture that Holds Property in Santa Ana, California [Member]                              
Other Commitments [Line Items]                              
Proceeds from full redemption of a preferred equity investment in a joint venture           $ 16,300,000                  
Early redemption fee           700,000                  
Multifamily Development In Oakland, California, 10.25% Rate [Member]                              
Other Commitments [Line Items]                              
Commitment to fund preferred equity investment           $ 36,800,000                  
Preferred returns rate           10.25%                  
Funded commitment amount   15,000,000.0               15,000,000.0   15,000,000.0      
Multifamily Development In Oakland, California, 11.0% Rate [Member]                              
Other Commitments [Line Items]                              
Commitment to fund preferred equity investment           $ 11,800,000                  
Preferred returns rate           11.00%                  
Funded commitment amount   5,500,000               5,500,000   5,500,000      
Redmond, WA [Member]                              
Other Commitments [Line Items]                              
Proceeds from full redemption of a preferred equity investment in a joint venture   14,800,000                          
Early redemption fee   300,000               300,000   300,000      
Seattle, WA [Member]                              
Other Commitments [Line Items]                              
Proceeds from full redemption of a preferred equity investment in a joint venture   16,300,000                          
Early redemption fee   $ 1,400,000               $ 1,400,000   $ 1,400,000      
One South Market, San Jose, CA [Member]                              
Other Commitments [Line Items]                              
Limited partnership interest in partnership investments             45.00%                
Payments to joint venture interest             $ 80,600,000                
Repayments of secured debt             86,000,000.0                
Gain on remeasurement of co-investment             31,500,000                
Promote income             $ 800,000                
Land Located in Oakland, California [Member]                              
Other Commitments [Line Items]                              
Limited partnership interest in partnership investments         50.00%                    
Proceeds from sale of real estate         $ 6,100,000                    
Gain on sale of real estate and land         $ 900,000