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Investments - Narrative (Details)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
home
commitment
extensionOption
entity
Apr. 30, 2025
USD ($)
home
community
limitedPartnershipUnit
Sep. 30, 2025
USD ($)
home
commitment
extensionOption
entity
Jun. 30, 2025
community
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
commitment
yr
home
developmentRight
entity
extensionOption
Sep. 30, 2024
USD ($)
developmentRight
Dec. 31, 2024
USD ($)
Equity method investment                
Payments to acquire other real estate           $ 643,975 $ 278,363  
Number of new SIP commitments | home           2    
Other commitment, new           $ 48,000    
Other commitments, number of SIP commitments | commitment 9   9     9    
Other commitment $ 239,585   $ 239,585     $ 239,585    
Weighted average rate of return on other commitments 11.70%   11.70%     11.70%    
Other commitment, outstanding funding $ 206,876   $ 206,876     $ 206,876    
Total principal outstanding $ 8,784,124   $ 8,784,124     $ 8,784,124   $ 8,134,429
Long-term construction loan, maximum borrowing capacity, guarantee, percentage 25.00%   25.00%     25.00%    
Loan guarantee, payment reimbursement by partner, percentage 75.00%   75.00%     75.00%    
Nonoperating expense related to development pursuits     $ (1,392)   $ (1,573) $ (8,629) (7,235)  
Abandoned pursuit costs           $ 3,668 $ 1,600  
Number of development rights, no longer probable | developmentRight           1 1  
Casualty and impairment loss     $ 0   0 $ 858 $ 2,935  
DownREIT Partnership                
Equity method investment                
Number of communities acquired | community   6   6        
Apartment homes acquired | home   1,844            
Payments to acquire other real estate   $ 193,000            
Number of limited partnership units issued | limitedPartnershipUnit   1,060,000            
Avalon Alderwood Place                
Equity method investment                
Payments to acquire other real estate $ 71,250              
Number of apartment homes in communities owned | home 328   328     328    
Structured Investment Program                
Equity method investment                
Interest income, other     $ 7,068   $ 4,657 $ 19,888 11,773  
New England region | Emergency Response                
Equity method investment                
Casualty and impairment loss           $ 858    
California and Metro NY/NJ regions | Severe Weather and Fire                
Equity method investment                
Casualty and impairment loss             $ 2,935  
Unconsolidated real estate entities                
Equity method investment                
Number of unconsolidated real estate entities | entity 4   4     4    
AVA Arts District                
Equity method investment                
Ownership percentage 25.00%   25.00%     25.00%    
Total principal outstanding $ 173,000   $ 173,000     $ 173,000    
Interest rate cap 8.20%   8.20%     8.20%    
Number of extension options | extensionOption 2   2     2    
Loan potential term extension period | yr           1    
Proceeds from construction loans           $ 158,735    
Proceeds from notes payable           $ 161,567    
Avalon Alderwood Place | Joint Venture Partner                
Equity method investment                
Ownership percentage 50.00%   50.00%     50.00%    
Minimum | Unconsolidated real estate entities                
Equity method investment                
Ownership percentage 20.00%   20.00%     20.00%    
Maximum | Unconsolidated real estate entities                
Equity method investment                
Ownership percentage 28.60%   28.60%     28.60%