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Subsequent Events
12 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
In January 2022, Wesco VI acquired Vela on Ox, a 379-unit apartment home community located in Woodland Hills, CA for a total contract price of $183.0 million. The property was encumbered by a $100.7 million bridge loan from the Company, with an interest rate of 2.64% and was paid off in January 2022.

In January 2022, the Company received cash of $121.3 million to pay off the outstanding principal balance of related party bridge loans to Wesco VI.

Subsequent to year end, the Company received cash of $87.9 million for the full redemption of two preferred equity investments in joint ventures that hold property in Southern California and $17.6 million for the partial redemption of a preferred equity investment in a joint venture that holds property in Northern California.