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Segment Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment InformationThe Company's segment disclosures present the measure used by the chief operating decision makers for purposes of assessing each segment's performance. The Company's chief operating decision makers are comprised of several members of its executive management team who use net operating income ("NOI") to assess the performance of the business for the Company's reportable operating segments. NOI represents total property revenues less direct property operating expenses.
The executive management team generally evaluates the Company's operating performance geographically. The Company defines its reportable operating segments as the three geographical regions in which its communities are located: Southern California, Northern California, and Seattle Metro.

Excluded from segment revenues and NOI are management and other fees from affiliates and interest and other income. Non-segment revenues and NOI included in the following schedule also consist of revenues generated from commercial properties and properties that have been sold. Other non-segment assets include items such as real estate under development, co-investments, real estate held for sale, cash and cash equivalents, marketable securities, notes and other receivables, and prepaid expenses and other assets.

The revenues and NOI for each of the reportable operating segments are summarized as follows for the three and nine months ended September 30, 2022 and 2021 ($ in thousands):
 Three Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
Revenues:
Southern California$168,883 $150,807 $490,363 $434,926 
Northern California163,157 145,807 476,245 435,883 
Seattle Metro69,054 60,280 200,964 178,180 
Other real estate assets5,768 3,726 15,746 13,264 
Total property revenues$406,862 $360,620 $1,183,318 $1,062,253 
Net operating income:
Southern California$119,655 $103,656 $347,535 $300,766 
Northern California113,401 98,944 331,466 299,494 
Seattle Metro48,816 39,875 141,380 119,044 
Other real estate assets4,947 2,806 13,274 9,661 
Total net operating income286,819 245,281 833,655 728,965 
Management and other fees from affiliates2,886 2,237 8,313 6,707 
Corporate-level property management expenses(10,184)(9,060)(30,532)(27,135)
Depreciation and amortization(135,511)(130,564)(403,561)(387,887)
General and administrative(15,172)(12,712)(40,541)(34,746)
Expensed acquisition and investment related costs(230)(108)(248)(164)
Gain on sale of real estate and land— 42,897 — 142,993 
Interest expense(51,645)(50,019)(152,499)(152,639)
Total return swap income1,882 2,660 6,709 8,137 
Interest and other (loss) income(6,796)11,998 (31,571)48,756 
Equity income from co-investments10,985 25,433 23,756 60,692 
Deferred tax (expense) benefit on unconsolidated co-investments(1,755)(3,041)7,863 (5,391)
Loss on early retirement of debt, net(2)— (2)(18,982)
Gain on remeasurement of co-investment17,423 — 17,423 2,260 
Net income$98,700 $125,002 $238,765 $371,566 
Total assets for each of the reportable operating segments are summarized as follows as of September 30, 2022 and December 31, 2021 ($ in thousands):
 September 30, 2022December 31, 2021
Assets:
Southern California$3,993,289 $4,018,839 
Northern California5,444,582 5,460,701 
Seattle Metro1,381,428 1,407,033 
Other real estate assets104,426 96,500 
Net reportable operating segment - real estate assets10,923,725 10,983,073 
Real estate under development23,752 111,562 
Co-investments1,145,345 1,177,802 
Cash and cash equivalents, including restricted cash53,569 58,638 
Marketable securities141,699 191,829 
Notes and other receivables197,543 341,033 
Operating lease right-of-use assets66,531 68,972 
Prepaid expenses and other assets72,166 64,964 
Total assets$12,624,330 $12,997,873