Revenues

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Disaggregated Revenue

The following table presents the Company’s revenues disaggregated by revenue source ($ in thousands):



	Three Months Ended March 31,
	2020		2019
Rental income	$	383,498	$	347,805
Other property	6,252		6,083
Management and other fees from affiliates	2,617		2,335
Total revenues	$	392,367	$	356,223

The following table presents the Company’s rental and other property revenues disaggregated by geographic operating segment ($ in thousands):



	Three Months Ended March 31,
	2020		2019
Southern California	$	155,642	$	151,463
Northern California	164,079		136,745
Seattle Metro	63,844		60,413
Other real estate assets ⁽¹⁾	6,185		5,267
Total rental and other property revenues	$	389,750	$	353,888

⁽¹⁾ Other real estate assets consists of revenues generated from retail space, commercial properties, held for sale properties, and disposition properties.

The following table presents the Company’s rental and other property revenues disaggregated by current property category status ($ in thousands):



	Three Months Ended March 31,
	2020		2019
Same-property ⁽¹⁾	$	346,456	$	335,658
Acquisitions ⁽²⁾	21,924		987
Development ⁽³⁾	4,075		1,158
Redevelopment	5,401		5,229
Non-residential/other, net ⁽⁴⁾	11,894		10,856
Total rental and other property revenues	$	389,750	$	353,888

⁽¹⁾ Properties that have comparable stabilized results as of January 1, 2019 and are consolidated by the Company for the three months ended March 31, 2020 and 2019. A community is generally considered to have reached stabilized operations once it achieves an initial occupancy of 90%.

⁽²⁾ Acquisitions includes properties acquired which did not have comparable stabilized results as of January 1, 2019.

⁽³⁾ Development includes properties developed which did not have stabilized results as of January 1, 2019.

⁽⁴⁾ Non-residential/other, net consists of revenues generated from retail space, commercial properties, held for sale properties, disposition properties, student housing, properties undergoing significant construction activities that do not meet our redevelopment criteria, and three communities located in the California counties of Riverside, Santa Barbara, and Santa Cruz, which the Company does not consider its core markets.

Deferred Revenues and Remaining Performance Obligations

When cash payments are received or due in advance of the Company’s performance of contracts with customers, deferred revenue is recorded. The total deferred revenue balance related to such contracts was $3.7 million and $3.9 million as of March 31, 2020 and December 31, 2019, respectively, and was included in accounts payable and accrued liabilities within the accompanying condensed consolidated balance sheets. The amount of revenue recognized for the three months ended March 31, 2020 that was included in the December 31, 2019 deferred revenue balance was $0.2 million, which was included in interest and other income (loss) within the condensed consolidated statements of income and comprehensive income.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in the revenue recognition accounting standard. As of March 31, 2020, the Company had $3.7 million of remaining performance obligations. The Company expects to recognize approximately 15% of these remaining performance obligations in 2020, an additional 40% through 2022, and the remaining balance thereafter.