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v3.21.1

Significant Transactions During the Three Months Ended March 31, 2021 and Subsequent Events (Details) | 1 Months Ended | 3 Months Ended
--- | --- | ---
Mar. 31, 2021 USD ($) apartment | Feb. 28, 2021 USD ($) apartment | Jan. 31, 2021 USD ($) | Mar. 31, 2021 USD ($) shares | Mar. 31, 2020 USD ($)
Other Commitments [Line Items] |  |  |  |  |
Revenue from disposition |  |  |  | $ 2,249,000 | $ 2,617,000
Commitments to acquire equity method investment |  |  | $ 20,000,000.0 |  |
Preferred return rate |  |  | 10.00% |  |
Affiliated Entity | Related party bridge loan - Wesco I |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Notes receivable | $ 52,500,000 |  |  | $ 52,500,000 |
Interest rate | 2.55% |  |  |  |
Common Stock |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Shares repurchased during period (in shares) | shares |  |  |  | 40,000 |
Shares repurchased during period, value |  |  |  | $ 9,200,000 |
Purchase authority remaining under stock repurchase plan | $ 214,500,000 |  |  | 214,500,000 |
Stock repurchase plan amount | 250,000,000.0 |  |  | 250,000,000.0 |
Preferred Equity Investment Property In Southern California |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Proceeds from partial redemption of co-investment | 10,000,000.0 |  |  |  |
Joint Venture That Holds Property In Southern California |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Proceeds from partial redemption of co-investment | 110,200,000 |  |  |  |
Early redemption fee | 3,500,000 |  |  |  |
Essex Portfolio, L.P. |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Revenue from disposition |  |  |  | 2,249,000 | $ 2,617,000
Essex Portfolio, L.P. | Senior Notes | 2032 Notes |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Debt issued | $ 450,000,000.0 |  |  | $ 450,000,000.0 |
Debt coupon rate | 1.70% |  |  | 1.70% |
Debt offering price, percentage of par value | 99.423% |  |  | 99.423% |
Park 20, San Mateo, CA |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Revenue from disposition |  | $ 113,000,000.0 |  |  |
Park 20, San Mateo, CA | Apartment Building |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Number of apartment units | apartment |  | 197 |  |  |
Hidden Valley, Simi Valley, CA |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Revenue from disposition |  | $ 105,000,000.0 |  |  |
Gain on sale of properties |  | 69,200,000 |  |  |
Repayments of debt |  | $ 29,700,000 |  |  |
Hidden Valley, Simi Valley, CA | Apartment Building |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Number of apartment units | apartment |  | 324 |  |  |
Axis 2300, Irvine, CA |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Revenue from disposition | $ 57,500,000 |  |  |  |
Gain on sale of properties | $ 30,800,000 |  |  |  |
Axis 2300, Irvine, CA | Apartment Building |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |
Number of apartment units | apartment | 115 |  |  |  |

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