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Related Party Transactions (Details)
1 Months Ended 3 Months Ended 29 Months Ended
Mar. 31, 2021
USD ($)
Jan. 31, 2021
USD ($)
Nov. 30, 2019
USD ($)
Jun. 30, 2019
USD ($)
apartment
Feb. 28, 2019
USD ($)
Oct. 31, 2018
USD ($)
apartment
May 31, 2018
USD ($)
apartment
Mar. 31, 2017
USD ($)
unit
Mar. 31, 2021
USD ($)
Mar. 31, 2020
USD ($)
Sep. 30, 2020
USD ($)
Dec. 31, 2020
USD ($)
Related Party Transaction [Line Items]                        
Payments to acquire preferred equity investments                 $ 49,974,000 $ 21,905,000    
Preferred return rate   10.00%                    
Commitment to fund preferred equity investment   $ 20,000,000.0                    
Co-investments $ 962,625,000               962,625,000     $ 1,018,010,000
Membership Interest In Sage At Cupertino                        
Related Party Transaction [Line Items]                        
Number of units acquired | unit               230        
Co-investments               $ 15,300,000        
Investment interest acquired               40.50%        
Contract price               $ 90,000,000.0        
Encumbrance               $ 52,000,000.0        
Affiliated Entity                        
Related Party Transaction [Line Items]                        
Management and other fees from affiliates                 2,200,000 3,100,000    
Development and redevelopment fees                 0 400,000    
Short-term loans outstanding and due from affiliates 57,600,000               57,600,000     $ 4,700,000
Affiliated Entity | Related party bridge loan - Wesco I                        
Related Party Transaction [Line Items]                        
Notes receivable $ 52,500,000               52,500,000      
Interest rate 2.55%                      
Affiliated Entity | Related party bridge loan - Wesco V                        
Related Party Transaction [Line Items]                        
Notes receivable     $ 85,500,000                  
Interest rate     1.30%                  
Chairman and founder | Multifamily development community in La Mesa, CA                        
Related Party Transaction [Line Items]                        
Payments to acquire preferred equity investments         $ 24,500,000              
Preferred return rate         11.00%              
Chairman and founder | Apartment home community development development in Burlingame, CA                        
Related Party Transaction [Line Items]                        
Number of units acquired | apartment           268            
Payments to acquire preferred equity investments           $ 18,600,000            
Preferred return rate           12.00%            
Chairman and founder | Marcus & Millichap Company (MMC)                        
Related Party Transaction [Line Items]                        
Brokerage commissions                 $ 0 $ 200,000    
Chairman and founder | Marcus & Millichap Company (MMC) | Brio, Walnut Creek, CA                        
Related Party Transaction [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                
Chairman and founder | Marcus & Millichap Company (MMC) | Apartment home community in Ventura, CA                        
Related Party Transaction [Line Items]                        
Number of units acquired | apartment             400          
Preferred return rate             10.25%          
Commitment to fund preferred equity investment             $ 26,500,000          
Commitment funded amount                     $ 23,400,000