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Co-investments (Tables)
 3 Months Ended
Mar. 31, 2024
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]  
Schedule of Co-Investments
The carrying values of the Company's co-investments as of March 31, 2024 and December 31, 2023 are as follows ($ in thousands, except parenthetical amounts):
 
Weighted Average Company Ownership Percentage (1)
March 31, 2024December 31, 2023
Ownership interest in:
Wesco I, Wesco III, Wesco IV, Wesco V, and Wesco VI (2)
54 %$145,918 $144,766 
BEXAEW (3), BEX II, BEX IV, and 500 Folsom
50 %213,998 224,119 
Other (4)
52 %86,542 68,493 
Total operating and other co-investments, net446,458 437,378 
Total development co-investments— %— 14,605 
Total preferred interest co-investments (includes related party investments of $44.8 million and $42.7 million as of March 31, 2024 and December 31, 2023, respectively. See Note 6 - Related Party Transactions for further discussion)
552,311 544,262 
Total co-investments, net$998,769 $996,245 

(1) Weighted average Company ownership percentages are as of March 31, 2024.
(2) As of March 31, 2024 and December 31, 2023, the Company's investments in Wesco I, Wesco III, and Wesco IV were classified as a liability of $59.6 million and $61.8 million, respectively, due to distributions in excess of the Company's investment.
(3) In March 2024, the Company acquired BEXAEW's 49.9% interest in four apartment communities consisting of 1,480 apartment homes.
(4) As of March 31, 2024 and December 31, 2023, the Company's investments in Expo and Century Towers were classified as a liability of $4.2 million and $3.7 million, respectively, due to distributions received in excess of the Company's investment. The weighted average Company ownership percentage excludes the Company's investments in non-core technology co-investments which are carried at fair value.
Schedule of Financial Information for Co-Investments Accounted For Under the Equity Method
The combined summarized financial information of co-investments is as follows ($ in thousands):
 March 31, 2024December 31, 2023
Combined balance sheets: (1)
  Rental properties and real estate under development$4,739,567 $5,123,164 
  Other assets295,557 279,237 
   Total assets$5,035,124 $5,402,401 
  Debt$3,312,158 $3,622,609 
  Other liabilities312,091 317,208 
  Equity 1,410,875 1,462,584 
  Total liabilities and equity$5,035,124 $5,402,401 
Company's share of equity$998,769 $996,245 
 Three Months Ended March 31,
 20242023
Combined statements of income: (1)
Property revenues$106,293 $100,593 
Property operating expenses(42,314)(42,078)
Net operating income63,979 58,515 
Interest expense(40,943)(32,684)
General and administrative(7,563)(2,980)
Depreciation and amortization(45,793)(41,388)
Net loss$(30,320)$(18,537)
Company's share of net income (2)
$12,366 $10,871 

(1) Includes preferred equity investments held by the Company and excludes investments in technology co-investments.
(2) Includes the Company's share of equity income from joint ventures and preferred equity investments, gain on sales of co-investments, co-investment promote income and income from early redemption of preferred equity investments. Includes related party income of $1.1 million and $2.0 million for the three months ended March 31, 2024 and 2023, respectively.