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Real Estate Investments - Preferred Equity Investments and Real Estate Under Development (Details) $ in Thousands | 1 Months Ended | 12 Months Ended
--- | --- | ---
Nov. 30, 2021 USD ($) apartment | Dec. 31, 2023 USD ($) investment apartment | Dec. 31, 2022 USD ($) investment | Dec. 31, 2021 USD ($) 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 |  | $ 1,061,733 | $ 1,127,491 |  |  |  |
Impairment loss from unconsolidated co-investment |  | 33,700 | 2,100 |  |  |  |
Commitment to fund preferred equity investment in the project |  | $ 18,800 | $ 84,900 |  |  |  |
Number of investments with a commitment to fund | investment |  | 2 | 7 |  |  |  |
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 |  | $ 114,000 |  |  |  |  |
Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  |  |  | $ 67,200 | $ 191,300 | $ 141,700 | $ 45,100
Number of investments with a commitment to fund | investment |  | 2 |  | 4 | 7 | 5 | 2
Proceeds from dispositions of co-investments |  | $ 72,300 |  |  |  |  |
Silver Apartments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project | $ 13,500 |  |  |  |  |  |
Annualized preferred return rate | 8.00% |  |  |  |  |  |
Transfer from co-investments to rental properties | $ 11,000 |  |  |  |  |  |
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 | $ 100,000 |  |  |  |  |  |
Interest rate | 3.15% |  |  |  |  |  |
Minimum |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Annualized preferred return rate |  | 11.00% | 8.80% | 10.00% | 9.00% | 10.15% | 10.25%
Maximum |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Annualized preferred return rate |  | 13.50% | 10.80% | 12.50% | 11.50% | 11.30% | 12.00%
Total preferred interest co-investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Co-investment |  | $ 544,300 | $ 580,100 |  |  |  |
2022 Investments | Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  | $ 18,800 | $ 84,900 |  |  |  |
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 |  | $ 300 |  |  |  |  |
2021 Investments | Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  | 67,200 |  |  |  |  |
2020 Investments | Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  | 191,300 |  |  |  |  |
Equity method investment, funded amount |  | 182,300 |  |  |  |  |
2019 Investments | Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Equity method investment, funded amount |  | 141,700 |  |  |  |  |
2018 Investments | Equity Method Investments |  |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |  |
Commitment to fund preferred equity investment in the project |  | 45,100 |  |  |  |  |
Equity method investment, funded amount |  | $ 42,100 |  |  |  |  |

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