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Revenues
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Disaggregated Revenue

The following table presents the Company’s revenues disaggregated by revenue source ($ in thousands):
 Three Months Ended September 30,Nine Months Ended September 30,
 2023202220232022
Rental income$410,438 $401,467 $1,222,859 $1,166,670 
Other property5,960 5,395 16,460 16,648 
Management and other fees from affiliates2,785 2,886 8,328 8,313 
Total revenues$419,183 $409,748 $1,247,647 $1,191,631 

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,
 2023202220232022
Southern California$172,139 $164,954 $508,873 $479,102 
Northern California168,224 163,157 498,263 476,415 
Seattle Metro70,631 69,054 210,885 200,964 
Other real estate assets (1)
5,404 9,697 21,298 26,837 
Total rental and other property revenues$416,398 $406,862 $1,239,319 $1,183,318 

(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,
 2023202220232022
Same-property (1)
$398,460 $386,200 $1,181,559 $1,126,489 
Acquisitions (2)
1,528 675 3,881 675 
Development (3)
5,808 5,410 17,018 15,008 
Redevelopment1,564 1,422 4,696 4,348 
Non-residential/other, net (4)
10,432 14,783 33,658 44,403 
Straight line rent concession (5)
(1,394)(1,628)(1,493)(7,605)
Total rental and other property revenues$416,398 $406,862 $1,239,319 $1,183,318 

(1) Same-property includes properties that have comparable stabilized results as of January 1, 2022 and are consolidated by the Company for the three and nine months ended September 30, 2023 and 2022. A community is 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, 2022.
(3) Development includes properties developed which did not have stabilized results as of January 1, 2022.
(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) Represents straight-line concessions for residential operating communities. 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.

Deferred Revenues and Remaining Performance Obligations

When cash payments are received or due in advance of the Company’s performance of contracts with customers, deferred revenue is recorded. The total deferred revenue balance related to such contracts was $1.2 million and $1.7 million as of September 30, 2023 and December 31, 2022, respectively, and was included in accounts payable and accrued liabilities within the accompanying condensed consolidated balance sheets. The amount of revenue recognized for the nine months ended September 30, 2023 that was included in the December 31, 2022 deferred revenue balance was $0.5 million, which was included in rental and other property revenue within the condensed consolidated statements of income and comprehensive income.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in the revenue recognition accounting standard. As of September 30, 2023, the Company had $1.2 million of remaining performance obligations. The Company expects to recognize approximately 15% of these remaining performance obligations in 2023, an additional 68% through 2025, and the remaining balance thereafter.