XML 37 R51.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Real Estate Investments - Co-Investments (Details)
1 Months Ended 12 Months Ended
Dec. 31, 2019
USD ($)
Nov. 30, 2019
USD ($)
apartment
Oct. 31, 2019
USD ($)
apartment
Aug. 31, 2019
USD ($)
apartment
Dec. 31, 2019
USD ($)
unit
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 01, 2019
Aug. 01, 2019
Business Acquisition [Line Items]                  
Promote interest earned       $ 52,200,000          
Number of units acquired | unit         849        
Purchase price         $ 373,300,000 $ 35,400,000      
Debt assumed in connection with acquisition         143,006,000 45,804,000 $ 51,882,000    
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures $ 1,335,339,000       1,335,339,000 1,300,140,000      
Membership Combined Balance Sheets [Abstract]                  
Rental properties and real estate under development 546,075,000       546,075,000 454,629,000      
Other liabilities 36,565,000       36,565,000 33,375,000      
Membership Combined Statements Of Income [Abstract]                  
Interest expense         (217,339,000) (220,492,000) (222,894,000)    
General and administrative         (54,262,000) (53,451,000) (41,385,000)    
Equity income from co-investments         112,136,000 89,132,000 86,445,000    
Investments with Related Parties                  
Membership Combined Statements Of Income [Abstract]                  
Equity income from co-investments         $ 7,500,000 2,000,000.0 1,900,000    
BEX IV                  
Business Acquisition [Line Items]                  
Ownership percentage       50.10%          
Debt assumed in connection with acquisition 44,400,000                
BEX IV, LLC (BEX IV), Menlo Park                  
Business Acquisition [Line Items]                  
Number of units acquired | apartment       195          
Purchase price       $ 148,000,000.0          
Debt assumed in connection with acquisition       $ 44,400,000          
Wesco V, LLC (Wesco V), Emeryville                  
Business Acquisition [Line Items]                  
Number of units acquired | apartment       331          
Purchase price       $ 178,000,000.0          
Debt assumed in connection with acquisition 89,000,000.0     $ 89,000,000.0          
Canadian Pension Plan Investment Board (CPPIB or CPP), San Francisco, CA                  
Business Acquisition [Line Items]                  
Ownership percentage     55.00%            
Number of units acquired | apartment     463            
Gain on sale of properties     $ 50,200,000            
Canadian Pension Plan Investment Board (CPPIB or CPP), San Francisco, CA | Rental and Other Property                  
Business Acquisition [Line Items]                  
Total property revenues     $ 311,000,000.0            
Velo & Ray Apartments, Seattle, WA                  
Business Acquisition [Line Items]                  
Number of units acquired | apartment   308              
Purchase price   $ 133,000,000.0              
Debt assumed in connection with acquisition   $ 85,500,000              
CPPIB                  
Business Acquisition [Line Items]                  
Ownership percentage         55.00%        
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures 345,466,000       $ 345,466,000 482,507,000      
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 216,756,000       $ 216,756,000 194,890,000      
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 160,888,000       $ 160,888,000 121,780,000      
Other                  
Business Acquisition [Line Items]                  
Ownership percentage         48.00%        
Investments in (distributions in excess of investments in) and advance to affiliates, subsidiaries, associates and joint ventures 20,351,000       $ 20,351,000 34,093,000      
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 743,461,000       $ 743,461,000 833,270,000      
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 146,944,000       $ 146,944,000 94,060,000      
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 444,934,000       444,934,000 372,810,000      
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 73,200,000       73,200,000 51,800,000      
Total Co Investment                  
Membership Combined Balance Sheets [Abstract]                  
Rental properties and real estate under development 4,733,762,000       4,733,762,000 4,367,987,000      
Other assets 139,562,000       139,562,000 104,119,000      
Total assets 4,873,324,000       4,873,324,000 4,472,106,000      
Debt 2,442,213,000       2,442,213,000 2,190,764,000      
Other liabilities 117,160,000       117,160,000 106,316,000      
Equity 2,313,951,000       2,313,951,000 2,175,026,000      
Total liabilities and equity 4,873,324,000       4,873,324,000 4,472,106,000      
Company's share of equity $ 1,335,339,000       1,335,339,000 1,300,140,000      
Membership Combined Statements Of Income [Abstract]                  
Property revenues         336,922,000 332,164,000 312,841,000    
Property operating expenses         (115,658,000) (107,584,000) (110,583,000)    
Net operating income         221,264,000 224,580,000 202,258,000    
Gain on sale of real estate         112,918,000 24,218,000 90,663,000    
Interest expense         (65,665,000) (63,913,000) (62,844,000)    
General and administrative         (9,575,000) (6,379,000) (9,091,000)    
Depreciation and amortization         (121,006,000) (126,485,000) (118,048,000)    
Net income         137,936,000 52,021,000 102,938,000    
Company's share of net income         $ 112,136,000 $ 89,132,000 $ 86,445,000    
LIBOR Swap Rate | BEX IV                  
Business Acquisition [Line Items]                  
Interest rate percentage               3.23%  
LIBOR Swap Rate | BEX IV, LLC (BEX IV), Menlo Park                  
Business Acquisition [Line Items]                  
Interest rate percentage                 3.25%
LIBOR Swap Rate | Wesco V, LLC (Wesco V), Emeryville                  
Business Acquisition [Line Items]                  
Interest rate percentage               1.30% 1.30%
LIBOR Swap Rate | Velo & Ray Apartments, Seattle, WA                  
Business Acquisition [Line Items]                  
Interest rate percentage   1.30%