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Co-investments | 3 Months Ended
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Mar. 31, 2018
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract] |
Co-investments | Co-investments The Company has joint ventures and preferred equity investments in co-investments which are accounted for under the equity method. The co-investments own, operate, and develop apartment communities. The carrying values of the Company's co-investments as of March 31, 2018 and December 31, 2017 are as follows ($ in thousands, except in parenthetical):
| Weighted Average Essex Ownership Percentage (1) |  | March 31, 2018 |  | December 31, 2017
Membership interest/Partnership interest in: |  |  |  |  |
CPPIB | 54 | % |  | $ | 496,512 |  |  | $ | 500,287 |
Wesco I, III, IV, and V | 53 | % |  | 214,650 |  |  | 214,408 |
BEXAEW, BEX II and BEX III (2) | 50 | % |  | 135,174 |  |  | 13,827 |
Other | 52 | % |  | 50,209 |  |  | 51,810 |
Total operating and other co-investments, net |  |  | 896,545 |  |  | 780,332 |
Total development co-investments, net | 50 | % |  | 75,092 |  |  | 73,770 |
Total preferred interest co-investments (includes related party investments of $15.6 million and $15.7 million as of March 31, 2018 and December 31, 2017, respectively) |  |  | 319,320 |  |  | 265,156 |
Total co-investments, net |  |  | $ | 1,290,957 |  |  | $ | 1,119,258 |
(1) Weighted average Essex ownership percentages are as of March 31, 2018. (2) As of December 31, 2017, the Company's investment in BEX II was classified as a liability of $36.7 million. The combined summarized entity financial information of co-investments is as follows ($ in thousands).
| March 31, 2018 |  | December 31, 2017
Combined balance sheets: (1) |  |  |
Rental properties and real estate under development | $ | 3,794,212 |  |  | $ | 3,722,778 |
Other assets | 161,538 |  |  | 110,333 |
Total assets | $ | 3,955,750 |  |  | $ | 3,833,111 |
Debt | $ | 1,744,663 |  |  | $ | 1,705,051 |
Other liabilities | 69,782 |  |  | 45,515 |
Equity | 2,141,305 |  |  | 2,082,545 |
Total liabilities and equity | $ | 3,955,750 |  |  | $ | 3,833,111 |
Company's share of equity | $ | 1,290,957 |  |  | $ | 1,155,984 |
| Three Months Ended March 31,
| 2018 |  | 2017
Combined statements of income: (1) |  |  |
Property revenues | $ | 80,842 |  |  | $ | 75,905 |
Property operating expenses | (27,069 | ) |  | (25,408 | )
Net operating income | 53,773 |  |  | 50,497 |
Interest expense | (16,735 | ) |  | (11,921 | )
General and administrative | (1,492 | ) |  | (1,778 | )
Depreciation and amortization | (31,162 | ) |  | (27,904 | )
Net income | $ | 4,384 |  |  | $ | 8,894 |
Company's share of net income (2) | $ | 32,774 |  |  | $ | 10,899 |
(1) Includes preferred equity investments held by the Company. (2) Includes the Company's share of equity income from co-investments 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 $0.4 million and $0.5 million for the three months ended March 31, 2018 and 2017, respectively.

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- Definition The entire disclosure for cost method and equity method investments included basis, impairment losses, recognized or unrecognized gains (losses). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2197087 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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- References No definition available. + Details
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