Real Estate Investments - Preferred Equity Investments and Real Estate Under Development (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2021 USD ($) apartment	Dec. 31, 2023 USD ($) investment apartment	Dec. 31, 2022 USD ($) investment	Dec. 31, 2021 USD ($) investment	Dec. 31, 2020 USD ($) investment	Dec. 31, 2019 USD ($) investment	Dec. 31, 2018 USD ($) investment
Schedule of Equity Method Investments [Line Items]
Co-investment		$ 1,061,733	$ 1,127,491
Impairment loss from unconsolidated co-investment		33,700	2,100
Commitment to fund preferred equity investment in the project		$ 18,800	$ 84,900
Number of investments with a commitment to fund | investment		2	7
Ownership interests, number of unconsolidated projects | investment		1
Number of units to be developed | apartment		264
Real Estate Predevelopment Projects
Schedule of Equity Method Investments [Line Items]
Actual cost of active development projects		$ 114,000
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Commitment to fund preferred equity investment in the project				$ 67,200	$ 191,300	$ 141,700	$ 45,100
Number of investments with a commitment to fund | investment		2		4	7	5	2
Proceeds from dispositions of co-investments		$ 72,300
Silver Apartments
Schedule of Equity Method Investments [Line Items]
Commitment to fund preferred equity investment in the project	$ 13,500
Annualized preferred return rate	8.00%
Transfer from co-investments to rental properties	$ 11,000
Number of units acquired | apartment	268
Limited partnership interest	58.00%
Silver Apartments | Related Party Bridge Loans on Property Acquired by Wesco VI | Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Notes receivable	$ 100,000
Interest rate	3.15%
Minimum
Schedule of Equity Method Investments [Line Items]
Annualized preferred return rate		11.00%	8.80%	10.00%	9.00%	10.15%	10.25%
Maximum
Schedule of Equity Method Investments [Line Items]
Annualized preferred return rate		13.50%	10.80%	12.50%	11.50%	11.30%	12.00%
Total preferred interest co-investments
Schedule of Equity Method Investments [Line Items]
Co-investment		$ 544,300	$ 580,100
2022 Investments | Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Commitment to fund preferred equity investment in the project		$ 18,800	$ 84,900
Preferred Equity Investment Property in Southern California
Schedule of Equity Method Investments [Line Items]
Number of investments with a commitment to fund | investment		2
Early redemption fee		$ 300
2021 Investments | Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Commitment to fund preferred equity investment in the project		67,200
2020 Investments | Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Commitment to fund preferred equity investment in the project		191,300
Equity method investment, funded amount		182,300
2019 Investments | Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Equity method investment, funded amount		141,700
2018 Investments | Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Commitment to fund preferred equity investment in the project		45,100
Equity method investment, funded amount		$ 42,100