v3.25.2
Investments - Narrative (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
entity
extensionOption
commitment
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
yr
limitedPartnershipUnit
home
entity
developmentRight
extensionOption
commitment
Jun. 30, 2024
USD ($)
developmentRight
Dec. 31, 2024
USD ($)
Equity method investment          
Payments to acquire other real estate     $ 384,495 $ 62,192  
Other commitments, number of SIP commitments | commitment 8   8    
Other commitment $ 211,585   $ 211,585    
Weighted average rate of return on other commitments 11.60%   11.60%    
Other commitment, outstanding funding $ 202,179   $ 202,179    
Total principal outstanding $ 8,714,999   $ 8,714,999   $ 8,134,429
Long-term construction loan, maximum borrowing capacity, guarantee, percentage 25.00%   25.00%    
Loan guarantee, payment reimbursement by partner, percentage 75.00%   75.00%    
Nonoperating expense related to development pursuits $ (2,493) $ (1,417) $ (7,237) (5,662)  
Abandoned pursuit costs     $ 3,668 $ 1,600  
Number of development rights, no longer probable | developmentRight     1 1  
Casualty and impairment loss 858 0 $ 858 $ 2,935  
DownREIT Partnership          
Equity method investment          
Apartment homes acquired | home     1,844    
Payments to acquire other real estate     $ 193,000    
Number of limited partnership units issued | limitedPartnershipUnit     1,060,000    
Structured Investment Program          
Equity method investment          
Interest income, other 6,689 3,940 $ 12,820 7,116  
New England region | Emergency Response          
Equity method investment          
Casualty and impairment loss $ 858   $ 858    
California and Metro NY/NJ regions | Severe Weather and Fire          
Equity method investment          
Casualty and impairment loss   $ 2,935   $ 2,935  
Unconsolidated real estate entities          
Equity method investment          
Number of unconsolidated real estate entities | entity 5   5    
AVA Arts District          
Equity method investment          
Ownership percentage 25.00%   25.00%    
Number of extension options | extensionOption 2   2    
Total principal outstanding $ 173,000   $ 173,000    
Loan potential term extension period | yr     1    
Long-Term Debt, Cap Interest Rate 8.20%   8.20%    
Proceeds from construction loans     $ 158,735    
Proceeds from notes payable     $ 161,000    
Minimum | Unconsolidated real estate entities          
Equity method investment          
Ownership percentage 20.00%   20.00%    
Maximum | Unconsolidated real estate entities          
Equity method investment          
Ownership percentage 50.00%   50.00%