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Real Estate Investments (Tables) | 12 Months Ended
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Dec. 31, 2016
Real Estate Investments, Net [Abstract] |
Schedule of Real Estate Properties | The table below summarizes acquisition activity for the year ended December 31, 2016 ($ in millions):
Property Name | Location | Apartment Homes | Essex Ownership Percentage | Quarter in 2016 | Purchase Price
Mio | San Jose, CA | 103 |  | 100 | % | Q1 | $ | 51.3 |
Form 15 | San Diego, CA | 242 |  | 100 | % | Q1 | 97.4 |
Emerson Valley Village | Los Angeles, CA | 144 |  | 100 | % | Q4 | 67.0 |
Ashton Sherman Village | Los Angeles, CA | 264 |  | 100 | % | Q4 | 118.0 |
Total 2016 | 753 |  |  |  |  | $ | 333.7 |
Disposal Groups, Including Discontinued Operations | The table below summarizes disposition activity for the year ended December 31, 2016 ($ in millions):
Property Name | Location | Apartment Homes | Essex Ownership Percentage | Ownership | Quarter in 2016 | Sales Price | Gains |
Harvest Park | Santa Rosa, CA | 104 |  | 100 | % | EPLP | Q1 | $ | 30.5 |  | $ | 6.4 |  | (1)
Tuscana | Tracy, CA | 30 |  | 100 | % | EPLP | Q4 | 6.7 |  | 0.3 |  | (2)
Candlewood North | Northridge, CA | 189 |  | 100 | % | EPLP | Q4 | 43.6 |  | 7.3 |  |
Total 2016 | 323 |  |  |  |  |  | $ | 80.8 |  | $ | 14.0 |  |
(1) | Net of $4.3 million deferred tax on gain on sale of real estate.
(2) | Net of $0.1 million deferred tax on gain on sale of real estate.
Summary of Co Investment | The carrying values of the Company’s co-investments as of December 31, 2016 and 2015 are as follows ($ in thousands):
| Ownership | December 31,
| Percentage | 2016 |  | 2015
Membership interest/Partnership interest in: |  |  |  |
CPPIB | 50%-55% |  | $ | 422,068 |  |  | $ | 422,317 |
Wesco I, III and IV | 50 | % | 180,687 |  |  | 218,902 |
Palm Valley | 50 | % | 68,396 |  |  | 68,525 |
BEXAEW | 50 | % | 47,963 |  |  | 88,850 |
BEX II | 50 | % | 19,078 |  |  | — |
Other | 50%-55% |  | 43,713 |  |  | 32,927 |
Total operating co-investments |  | 781,905 |  |  | 831,521 |
Total development co-investments | 50%-55% |  | 157,317 |  |  | 98,214 |
Total preferred interest co-investments (includes related party investments of $35.9 million and $35.8 million as of December 31, 2016 and December 31, 2015, respectively - FN 5 - Related Party Transactions for further discussion) |  | 222,053 |  |  | 106,312 |
Total co-investments |  | $ | 1,161,275 |  |  | $ | 1,036,047 |
Summarized Financial Statement for Co Investment Accounted for Under the Equity Method | The combined summarized financial information of co-investments is as follows ($ in thousands):
| December 31,
| 2016 |  | 2015
Combined balance sheets: (1) |  |  |
Rental properties and real estate under development | $ | 3,807,245 |  |  | $ | 3,360,360 |
Other assets | 121,505 |  |  | 96,785 |
Total assets | $ | 3,928,750 |  |  | $ | 3,457,145 |
Debt | $ | 1,617,639 |  |  | $ | 1,499,601 |
Other liabilities | 74,607 |  |  | 92,241 |
Equity | 2,236,504 |  |  | 1,865,303 |
Total liabilities and equity | $ | 3,928,750 |  |  | $ | 3,457,145 |
Company's share of equity | $ | 1,161,275 |  |  | $ | 1,036,047 |
| Years ended December 31,
| 2016 |  | 2015 |  | 2014
Combined statements of income: (1) |  |  |  |  |
Property revenues | $ | 289,011 |  |  | $ | 260,175 |  |  | $ | 188,548 |
Property operating expenses | (99,637 | ) |  | (93,067 | ) |  | (71,419 | )
Net operating income | 189,374 |  |  | 167,108 |  |  | 117,129 |
Gain on sale of real estate | 28,291 |  |  | 14 |  |  | 23,333 |
Interest expense | (46,894 | ) |  | (44,834 | ) |  | (39,990 | )
General and administrative | (7,448 | ) |  | (5,879 | ) |  | (6,321 | )
Equity income from co-investments (2) | — |  |  | — |  |  | 26,798 |
Depreciation and amortization | (103,986 | ) |  | (103,613 | ) |  | (74,657 | )
Net income | $ | 59,337 |  |  | $ | 12,796 |  |  | $ | 46,292 |
Company's share of net income (3) | $ | 48,698 |  |  | $ | 21,861 |  |  | $ | 39,893 |
(1) | Includes preferred equity investments held by the Company.
(2) | Represents income from Wesco II's preferred equity investment in Park Merced.
(3) | Includes the Company's share of equity income from co-investments, income from preferred equity investments, gain on sale of co-investments, co-investment promote income, and income from early redemption of preferred equity investments. Includes income earned from investments with a related party of $3.4 million and $3.7 million for the years ended December 31, 2016 and 2015, respectively.

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
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