XML 78 R59.htm IDEA: XBRL DOCUMENT
v3.22.4

Real Estate Investments - Preferred Equity Investments and Real Estate Under Development (Details) | 1 Months Ended | 12 Months Ended
--- | --- | ---
Aug. 31, 2022 USD ($) | Nov. 30, 2021 USD ($) apartment | Dec. 31, 2022 USD ($) apartment investment | Dec. 31, 2021 USD ($) investment | Dec. 31, 2020 USD ($) investment | Dec. 31, 2019 USD ($) investment | Dec. 31, 2018 USD ($) investment
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Co-investment |  |  | $ 1,127,491,000 | $ 1,177,802,000 |  |  |
Commitment to fund preferred equity investment in the project |  |  | $ 84,900,000 |  |  |  |
Number of investments with a commitment to fund | investment |  |  | 7 |  |  |  |
Impairment loss from unconsolidated co-investment |  |  | $ 2,100,000 | $ 0 | $ 0 |  |
Ownership Interests, number of unconsolidated projects | investment |  |  | 1 |  |  |  |
Number of units to be developed | apartment |  |  | 264 |  |  |  |
Real Estate Predevelopment Projects |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Actual cost of active development projects |  |  | $ 102,000,000 |  |  |  |
Affiliated Entity |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Notes receivable, related parties | $ 11,200,000 |  |  |  |  |  |
Interest rate | 9.50% |  |  |  |  |  |
Minimum |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Annualized preferred return rate |  |  | 8.80% | 10.00% | 9.00% | 10.15% | 10.25%
Maximum |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Annualized preferred return rate |  |  | 10.80% | 12.50% | 11.50% | 11.30% | 12.00%
Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  |  |  | $ 67,200,000 | $ 191,300,000 | $ 141,700,000 | $ 45,100,000
Number of investments with a commitment to fund | investment |  |  | 3 | 4 | 7 | 5 | 2
Proceeds from dispositions of co-investments |  |  | $ 132,600,000 |  |  |  |
Silver Apartments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  | $ 13,500,000 |  |  |  |  |
Annualized preferred return rate |  | 8.00% |  |  |  |  |
Transfer from co-investments to rental properties |  | $ 11,000,000 |  |  |  |  |
Number of units acquired | apartment |  | 268 |  |  |  |  |
Limited partnership interest |  | 58.00% |  |  |  |  |
Silver Apartments | Related Party Bridge Loans on Property Acquired by Wesco VI | Affiliated Entity |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Notes receivable, related parties |  | $ 100,000,000 |  |  |  |  |
Interest rate |  | 3.15% |  |  |  |  |
Total preferred interest co-investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Co-investment |  |  | 580,100,000 | $ 565,900,000 |  |  |
2022 Investments | Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  |  | 84,900,000 |  |  |  |
2021 Investments | Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  |  | 67,200,000 |  |  |  |
2020 Investments | Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  |  | 191,300,000 |  |  |  |
Equity method investment, funded amount |  |  | 182,300,000 |  |  |  |
2019 Investments | Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Equity method investment, funded amount |  |  | 141,700,000 |  |  |  |
2018 Investments | Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  |  | 45,100,000 |  |  |  |
Equity method investment, funded amount |  |  | $ 42,100,000 |  |  |  |
Preferred Equity Investment Property in Southern California |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Number of investments with a commitment to fund | investment |  |  | 2 |  |  |  |
Early redemption fee |  |  | $ 900,000 |  |  |  |

X
- Definition Actual Cost Of Active Development Projects + References No definition available. + Details
Name: | ess_ActualCostOfActiveDevelopmentProjects
Namespace Prefix: | ess_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Equity Method Investment, Commit To Fund, Number Of Investments + References No definition available. + Details
Name: | ess_EquityMethodInvestmentCommitToFundNumberOfInvestments
Namespace Prefix: | ess_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Equity Method Investment, Commitment To Fund, Amount + References No definition available. + Details
Name: | ess_EquityMethodInvestmentCommitmentToFundAmount
Namespace Prefix: | ess_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Equity Method Investment, Commitment To Fund, Funded Amount + References No definition available. + Details
Name: | ess_EquityMethodInvestmentCommitmentToFundFundedAmount
Namespace Prefix: | ess_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Equity Method Investment, Early Redemption Fee Received + References No definition available. + Details
Name: | ess_EquityMethodInvestmentEarlyRedemptionFeeReceived
Namespace Prefix: | ess_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Equity Method Investments, Preferred Returns Rate + References No definition available. + Details
Name: | ess_EquityMethodInvestmentsPreferredReturnsRate
Namespace Prefix: | ess_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition This element represents a description of the nature of common ownership or management control relationships with other entities, regardless of there being transactions between the entities, when the existence of that control could result in operating results or financial position of the reporting entity significantly different from that which would have been obtained if the entities' were autonomous. + References No definition available. + Details
Name: | ess_LimitedPartnershipInterestInPartnershipInvestments
Namespace Prefix: | ess_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Notes Receivable, Related Party, Interest Rate + References No definition available. + Details
Name: | ess_NotesReceivableRelatedPartyInterestRate
Namespace Prefix: | ess_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number of units acquired. + References No definition available. + Details
Name: | ess_NumberOfUnitsAcquired
Namespace Prefix: | ess_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number of units to be developed by the joint venture in the future. + References No definition available. + Details
Name: | ess_NumberOfUnitsToBeDeveloped
Namespace Prefix: | ess_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Ownership Interests, Number Of Unconsolidated Projects + References No definition available. + Details
Name: | ess_OwnershipInterestsNumberOfUnconsolidatedProjects
Namespace Prefix: | ess_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Transfer From Equity Method Investments To Rental Properties + References No definition available. + Details
Name: | ess_TransferFromEquityMethodInvestmentsToRentalProperties
Namespace Prefix: | ess_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition This item represents an other than temporary decline in value that has been recognized against an investment accounted for under the equity method of accounting. The excess of the carrying amount over the fair value of the investment represents the amount of the write down which is or was reflected in earnings. The written down value is a new cost basis with the adjusted value of the investment becoming its new carrying value subject to the equity accounting method. Evidence of a loss in value might include, but would not necessarily be limited to, absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an earnings capacity which would justify the carrying amount of the investment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI https://asc.fasb.org/extlink&oid=126903467&loc=d3e32787-111569 + Details
Name: | us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of investment in equity method investee and investment in and advance to affiliate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(18)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition For an unclassified balance sheet, amounts due from parties associated with the reporting entity as evidenced by a written promise to pay. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.3) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(k)(1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 + Details
Name: | us-gaap_NotesReceivableRelatedParties
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The cash inflow associated with the sale of equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3179-108585 + Details
Name: | us-gaap_ProceedsFromSaleOfEquityMethodInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_ScheduleOfEquityMethodInvestmentsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAxis=ess_RealEstatePredevelopmentProjectsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=us-gaap_EquityMethodInvestmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=ess_SilverApartmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=ess_RelatedPartyBridgeLoansOnPropertyAcquiredByWescoVIMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=ess_TotalPreferredInterestCoInvestmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=ess_CurrentPeriodInvestmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=ess_PriorYearInvestmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=ess_TwoYearsBeforeCurrentYearInvestmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=ess_ThreeYearsBeforeCurrentYearInvestmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=ess_FourYearsBeforeCurrentYearInvestmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=ess_PreferredEquityInvestmentPropertyInSouthernCaliforniaMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |