Revenues (Tables)

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Rental income	$	355,591	$	362,073	$	1,046,218	$	1,108,658
Other property	5,029		6,391		16,035		17,705
Management and other fees from affiliates	2,237		2,347		6,707		7,312
Total revenues	$	362,857	$	370,811	$	1,068,960	$	1,133,675

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Southern California	$	150,807	$	136,651	$	434,926	$	426,987
Northern California	145,807		147,081		435,883		457,655
Seattle Metro	60,280		60,617		178,180		184,310
Other real estate assets (1)	3,726		24,115		13,264		57,411
Total rental and other property revenues	$	360,620	$	368,464	$	1,062,253	$	1,126,363

(1) Other real estate assets consist of revenues generated from retail space, commercial properties, held for sale properties, disposition properties and straight-line rent adjustments for concessions. Executive management does not evaluate such operating performance geographically.

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Same-property (1)	$	325,153	$	316,639	$	957,908	$	986,945
Acquisitions (2)	14,789		14,237		42,410		40,491
Development (3)	8,055		5,461		22,485		13,956
Redevelopment	4,340		4,277		13,079		14,774
Non-residential/other, net (4)	11,319		13,119		35,721		52,491
Straight line rent concession (5)	(3,036)		14,731		(9,350)		17,706
Total rental and other property revenues	$	360,620	$	368,464	$	1,062,253	$	1,126,363

(1) Properties that have comparable stabilized results as of January 1, 2020 and are consolidated by the Company for the three and nine months ended September 30, 2021 and 2020. A community is generally considered to have reached stabilized operations once it achieves an initial occupancy of 90%.

(2) Acquisitions include properties acquired which did not have comparable stabilized results as of January 1, 2020.

(3) Development includes properties developed which did not have stabilized results as of January 1, 2020.

(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 two communities located in the California counties of Santa Barbara and Santa Cruz, which the Company does not consider its core markets.

(5) Same-property revenues reflect concessions on a cash basis. Total rental and other property revenues reflect concessions on a straight-line basis in accordance with U.S. GAAP.