v3.25.1
Segment Reporting - Summary of Financial Results by Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Total revenues $ 1,687,785 $ 1,754,318 $ 1,579,348
Expenses      
Property operating 714,991 748,522 650,594
(Loss) income from unconsolidated real estate ventures (13,435) (11,624) 12,189
Income from investments in real estate debt, net 95,755 123,138 99,787
Segment net operating income 1,055,114 1,117,310 1,040,730
General and administrative (47,048) (45,144) (44,708)
Management fees (105,356) (153,411) (167,100)
Performance participation allocation     (102,348)
Impairment of investments in real estate (150,392) (188,804)  
Depreciation and amortization (742,220) (811,788) (848,943)
Net gain on dispositions of real estate 87,108 289,818  
Interest expense (641,420) (583,476) (428,853)
Loss on extinguishment of debt   (93) (313)
Other (expense) income, net (179,994) (299,930) 485,608
Net loss (724,208) (675,518) (65,927)
Net loss (income) attributable to non-controlling interests in consolidated joint ventures 3,228 (3,350) (1,927)
Net loss attributable to non-controlling interests in Operating Partnership 36,097 29,165 2,146
Net loss attributable to stockholders (684,883) (649,703) (65,708)
Operating Segments | Multifamily Properties      
Revenues:      
Total revenues 1,233,802 1,226,375 1,079,391
Expenses      
Property operating 559,566 552,760 467,413
Segment net operating income 674,236 673,615 611,978
Operating Segments | Industrial properties      
Revenues:      
Total revenues 183,907 203,423 178,040
Expenses      
Property operating 46,071 51,163 44,983
Segment net operating income 137,836 152,260 133,057
Operating Segments | Office properties      
Revenues:      
Total revenues 166,798 157,748 136,601
Expenses      
Property operating 60,784 59,668 52,972
Segment net operating income 106,014 98,080 83,629
Operating Segments | Other Properties      
Revenues:      
Total revenues 103,278 166,772 185,316
Expenses      
Property operating 48,570 84,931 85,226
(Loss) income from unconsolidated real estate ventures (13,435) (11,624) 12,189
Segment net operating income 41,273 70,217 112,279
Operating Segments | Investments in real estate debt      
Expenses      
Income from investments in real estate debt, net 95,755 123,138 99,787
Segment net operating income 95,755 123,138 99,787
Rental Revenue      
Revenues:      
Total revenues 1,649,291 1,695,917 1,520,655
Rental Revenue | Operating Segments | Multifamily Properties      
Revenues:      
Total revenues 1,218,669 1,215,981 1,068,277
Rental Revenue | Operating Segments | Industrial properties      
Revenues:      
Total revenues 183,244 203,419 177,998
Rental Revenue | Operating Segments | Office properties      
Revenues:      
Total revenues 166,586 157,463 136,185
Rental Revenue | Operating Segments | Other Properties      
Revenues:      
Total revenues 80,792 119,054 138,195
Other revenue      
Revenues:      
Total revenues 38,494 58,401 58,693
Other revenue | Operating Segments | Multifamily Properties      
Revenues:      
Total revenues 15,133 10,394 11,114
Other revenue | Operating Segments | Industrial properties      
Revenues:      
Total revenues 663 4 42
Other revenue | Operating Segments | Office properties      
Revenues:      
Total revenues 212 285 416
Other revenue | Operating Segments | Other Properties      
Revenues:      
Total revenues $ 22,486 $ 47,718 $ 47,121