XML 101 R82.htm IDEA: XBRL DOCUMENT v3.22.4
Segment Information (Details)
12 Months Ended
Dec. 31, 2022
USD ($)
segment
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Segment Reporting [Abstract]      
Number of reportable operating segments defined by geographical regions | segment 3    
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total property revenues $ 1,595,675,000 $ 1,431,418,000 $ 1,486,150,000
Total net operating income 1,128,406,000 986,182,000 1,045,538,000
Management and other fees from affiliates 11,139,000 9,138,000 9,598,000
Corporate-level property management expenses (40,704,000) (36,211,000) (34,361,000)
Depreciation and amortization (539,319,000) (520,066,000) (525,497,000)
General and administrative (56,577,000) (51,838,000) (65,388,000)
Expensed acquisition and investment related costs (2,132,000) (203,000) (1,591,000)
Impairment loss 0 0 (1,825,000)
Gain on sale of real estate and land 94,416,000 142,993,000 64,967,000
Interest expense (204,798,000) (203,125,000) (220,633,000)
Total return swap income 7,907,000 10,774,000 10,733,000
Interest and other (loss) income (19,040,000) 98,744,000 40,999,000
Equity income from co-investments 26,030,000 111,721,000 66,512,000
Deferred tax benefit (expense) on unconsolidated co-investments 10,236,000 (15,668,000) (1,531,000)
Loss on early retirement of debt, net (2,000) (19,010,000) (22,883,000)
Gain on remeasurement of co-investment 17,423,000 2,260,000 234,694,000
Net income 432,985,000 515,691,000 599,332,000
Assets:      
Net reportable operating segments - real estate assets 10,814,094,000 10,983,073,000  
Real estate under development 24,857,000 111,562,000  
Co-investments 1,127,491,000 1,177,802,000  
Cash and cash equivalents, including restricted cash 42,681,000 58,638,000  
Marketable securities 112,743,000 191,829,000  
Notes and other receivables 103,045,000 341,033,000  
Operating lease right-of-use assets 67,239,000 68,972,000  
Prepaid expenses and other assets 80,755,000 64,964,000  
Total assets 12,372,905,000 12,997,873,000  
Rental and other property      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total property revenues 1,595,675,000 1,431,418,000 1,486,150,000
Management and other fees from affiliates      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Management and other fees from affiliates 11,139,000 9,138,000 9,598,000
Operating segments | Southern California      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net operating income 464,023,000 402,608,000 385,766,000
Assets:      
Net reportable operating segments - real estate assets 3,925,251,000 3,956,814,000  
Operating segments | Southern California | Rental and other property      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total property revenues 652,742,000 580,305,000 558,839,000
Operating segments | Northern California      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net operating income 445,763,000 401,870,000 431,047,000
Assets:      
Net reportable operating segments - real estate assets 5,414,467,000 5,460,701,000  
Operating segments | Northern California | Rental and other property      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total property revenues 639,138,000 584,034,000 604,348,000
Operating segments | Seattle Metro      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net operating income 191,476,000 160,959,000 166,806,000
Assets:      
Net reportable operating segments - real estate assets 1,374,379,000 1,407,033,000  
Operating segments | Seattle Metro | Rental and other property      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total property revenues 271,248,000 239,839,000 243,900,000
Other real estate assets      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total net operating income 27,144,000 20,745,000 61,919,000
Assets:      
Net reportable operating segments - real estate assets 99,997,000 158,525,000  
Other real estate assets | Rental and other property      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total property revenues $ 32,547,000 $ 27,240,000 $ 79,063,000