XML 18 R4.htm IDEA: XBRL DOCUMENT v3.23.2
EPLP - Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Rental properties:    
Land and land improvements $ 3,036,912 $ 3,043,321
Buildings and improvements 12,984,143 12,922,906
Total rental properties 16,021,055 15,966,227
Less: accumulated depreciation (5,390,935) (5,152,133)
Net real estate 10,630,120 10,814,094
Real estate under development 22,668 24,857
Co-investments 1,122,114 1,127,491
Total real estate 11,774,902 11,966,442
Cash and cash equivalents-unrestricted 60,949 33,295
Cash and cash equivalents-restricted 8,165 9,386
Marketable securities, net of allowance for credit losses of zero as of both June 30, 2023 and December 31, 2022 102,131 112,743
Notes and other receivables, net of allowance for credit losses of $0.6 million and $0.3 million as of June 30, 2023 and December 31, 2022, respectively (includes related party receivables of $6.1 million and $7.0 million as of June 30, 2023 and December 31, 2022, respectively) 150,464 103,045
Operating lease right-of-use assets 65,505 67,239
Prepaid expenses and other assets 83,157 80,755
Total assets 12,245,273 12,372,905
LIABILITIES AND CAPITAL    
Unsecured debt, net 5,315,336 5,312,168
Mortgage notes payable, net 592,143 593,943
Lines of credit 34,429 52,073
Accounts payable and accrued liabilities 172,946 165,461
Construction payable 22,089 23,159
Dividends payable 155,739 149,166
Distributions in excess of investments in co-investments 47,934 42,532
Operating lease liabilities 66,857 68,696
Other liabilities 44,440 43,441
Total liabilities 6,451,913 6,450,639
Commitments and contingencies
Redeemable noncontrolling interest 31,355 27,150
Limited Partners:    
Accumulated other comprehensive income 51,385 46,466
Noncontrolling interest 176,727 178,744
Total liabilities and equity 12,245,273 12,372,905
Essex Portfolio, L.P.    
Rental properties:    
Land and land improvements 3,036,912 3,043,321
Buildings and improvements 12,984,143 12,922,906
Total rental properties 16,021,055 15,966,227
Less: accumulated depreciation (5,390,935) (5,152,133)
Net real estate 10,630,120 10,814,094
Real estate under development 22,668 24,857
Co-investments 1,122,114 1,127,491
Total real estate 11,774,902 11,966,442
Cash and cash equivalents-unrestricted 60,949 33,295
Cash and cash equivalents-restricted 8,165 9,386
Marketable securities, net of allowance for credit losses of zero as of both June 30, 2023 and December 31, 2022 102,131 112,743
Notes and other receivables, net of allowance for credit losses of $0.6 million and $0.3 million as of June 30, 2023 and December 31, 2022, respectively (includes related party receivables of $6.1 million and $7.0 million as of June 30, 2023 and December 31, 2022, respectively) 150,464 103,045
Operating lease right-of-use assets 65,505 67,239
Prepaid expenses and other assets 83,157 80,755
Total assets 12,245,273 12,372,905
LIABILITIES AND CAPITAL    
Unsecured debt, net 5,315,336 5,312,168
Mortgage notes payable, net 592,143 593,943
Lines of credit 34,429 52,073
Accounts payable and accrued liabilities 172,946 165,461
Construction payable 22,089 23,159
Dividends payable 155,739 149,166
Distributions in excess of investments in co-investments 47,934 42,532
Operating lease liabilities 66,857 68,696
Other liabilities 44,440 43,441
Total liabilities 6,451,913 6,450,639
Commitments and contingencies
Redeemable noncontrolling interest 31,355 27,150
Limited Partners:    
Accumulated other comprehensive income 57,102 52,010
Total partners' capital 5,640,699 5,773,370
Noncontrolling interest 121,306 121,746
Total capital 5,762,005 5,895,116
Total liabilities and equity 12,245,273 12,372,905
Essex Portfolio, L.P. | General Partner    
General Partner:    
Common equity (64,183,304 and 64,604,603 units issued and outstanding, respectively) 5,533,893 5,669,906
Essex Portfolio, L.P. | Limited Partners    
Limited Partners:    
Common equity (2,260,112 and 2,272,496 units issued and outstanding, respectively) 49,704 51,454
Essex Portfolio, L.P. | Common Equity | General Partner    
General Partner:    
Common equity (64,183,304 and 64,604,603 units issued and outstanding, respectively) 5,533,893 5,669,906
Limited Partners:    
Total capital 5,533,893 5,669,906
Essex Portfolio, L.P. | Common Equity | Limited Partners    
Limited Partners:    
Total capital $ 49,704 $ 51,454