XML 64 R49.htm IDEA: XBRL DOCUMENT
v3.24.2

Related Party Transactions (Details) | 1 Months Ended | 3 Months Ended | 6 Months Ended |  |
--- | --- | --- | --- | --- | ---
May 31, 2024 | Apr. 30, 2024 USD ($) | Apr. 30, 2023 USD ($) | Aug. 31, 2022 USD ($) community | Nov. 30, 2021 USD ($) | Feb. 28, 2019 USD ($) | Oct. 31, 2018 USD ($) apartment | May 31, 2018 USD ($) apartment | Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($)
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other receivables outstanding |  |  |  |  |  |  |  |  | $ 53,900,000 |  | $ 53,900,000 |  |  |
Payments to acquire preferred equity investments |  |  |  |  |  |  |  |  |  |  | 3,804,000 | $ 15,571,000 |  |
Preferred return rate | 12.00% |  |  |  |  |  |  |  |  |  |  |  |  |
Notes and other receivables |  |  |  |  |  |  |  |  | 233,776,000 |  | 233,776,000 |  |  | $ 174,621,000
Apartment home community development development in Burlingame, CA |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitment funded amount |  |  | $ 11,200,000 |  |  |  |  |  |  |  |  |  |  |
Apartment home community in Ventura, CA |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitment funded amount |  |  |  |  | $ 18,300,000 |  |  |  |  |  | $ 11,000,000 |  |  |
Commitment to fund, amount |  |  |  |  | $ 13,000,000 |  |  |  |  |  |  |  |  |
Related Party |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes receivable |  |  |  | $ 11,200,000 |  |  |  |  |  |  |  |  |  |
Notes receivable, interest rate |  |  |  | 9.50% |  |  |  |  |  |  |  |  |  |
Number of communities owned | community |  |  |  | 3 |  |  |  |  |  |  |  |  |  |
Related Party | Multifamily development community in Mountain View, CA |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payments to acquire preferred equity investments |  |  |  |  |  | $ 24,500,000 |  |  |  |  |  |  |  |
Preferred return rate |  |  |  |  |  | 11.00% |  |  |  |  | 9.00% |  |  |
Related Party | Apartment home community development development in Burlingame, CA |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payments to acquire preferred equity investments |  |  |  |  |  |  | $ 18,600,000 |  |  |  |  |  |  |
Preferred return rate |  |  | 11.00% |  |  |  | 12.00% |  |  |  | 9.00% |  |  |
Number of units acquired | apartment |  |  |  |  |  |  | 268 |  |  |  |  |  |  |
Related Party | Related Party Bridge Loan On Property Acquired By BEX II |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes receivable |  | $ 53,600,000 |  |  |  |  |  |  |  |  |  |  | $ 53,600,000 |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] |  | Secured Overnight Financing Rate (SOFR) [Member] |  |  |  |  |  |  |  |  |  |  |  |
Notes receivable, interest rate |  | 1.50% |  |  |  |  |  |  |  |  |  |  |  |
Related Party | Marcus & Millichap Company (MMC) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Brokerage commissions |  |  |  |  |  |  |  |  | 0 | $ 0 | $ 0 | 0 |  |
Related Party | Marcus & Millichap Company (MMC) | Apartment home community in Ventura, CA |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred return rate |  |  |  |  |  |  |  | 10.25% |  |  | 9.00% |  |  |
Number of units acquired | apartment |  |  |  |  |  |  |  | 400 |  |  |  |  |  |
Commitment to fund preferred equity investment |  |  |  |  |  |  |  | $ 26,500,000 |  |  |  |  |  |
Affiliated Entity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes and other receivables |  |  |  |  |  |  |  |  | 59,200,000 |  | $ 59,200,000 |  |  | $ 6,100,000
Management and Other Fees From Affiliates | Related Party |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related party transaction, amounts of transaction |  |  |  |  |  |  |  |  | 2,800,000 | 3,200,000 | 5,600,000 | 6,400,000 |  |
Revenues from Development and Redevelopment Fees | Related Party |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related party transaction, amounts of transaction |  |  |  |  |  |  |  |  | $ 200,000 | $ 500,000 | $ 300,000 | $ 1,000,000 |  |

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 Investments, Preferred Returns Rate + References No definition available. + Details
Name: | ess_EquityMethodInvestmentsPreferredReturnsRate
Namespace Prefix: | ess_
Data Type: | dtr-types1:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Equity Method Investments, Purchase Commitment, Funded Amount + References No definition available. + Details
Name: | ess_EquityMethodInvestmentsPurchaseCommitmentFundedAmount
Namespace Prefix: | ess_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Notes Receivable + References No definition available. + Details
Name: | ess_NotesReceivable
Namespace Prefix: | ess_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Notes Receivable, Interest Rate + References No definition available. + Details
Name: | ess_NotesReceivableInterestRate
Namespace Prefix: | ess_
Data Type: | dtr-types1:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number Of Communities Owned + References No definition available. + Details
Name: | ess_NumberOfCommunitiesOwned
Namespace Prefix: | ess_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

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 Other Receivables Outstanding + References No definition available. + Details
Name: | ess_OtherReceivablesOutstanding
Namespace Prefix: | ess_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

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

X
- Definition Indicates type of variable interest rate on debt instrument. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 470 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 + Details
Name: | us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration
Namespace Prefix: | us-gaap_
Data Type: | enum2:enumerationSetItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amortized cost, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(5)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
Name: | us-gaap_NotesReceivableNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The cash outflow associated with the purchase of or advances to an 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 -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482740/230-10-45-13 + Details
Name: | us-gaap_PaymentsToAcquireEquityMethodInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of transactions with related party during the financial reporting period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-3 + Details
Name: | us-gaap_RelatedPartyTransactionAmountsOfTransaction
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 Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481990/310-10-45-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(c)(2)(i)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(c)(2)(ii)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(g)(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 + Details
Name: | us-gaap_RelatedPartyTransactionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Primarily represents commissions incurred in the period based upon the sale by commissioned employees or third parties of the entity's goods or services, and fees for sales assistance or product enhancements performed by third parties (such as a distributor or value added reseller). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 + Details
Name: | us-gaap_SalesCommissionsAndFees
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

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

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

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

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

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

X
- Details
Name: | srt_CounterpartyNameAxis=ess_MarcusandMillichapCompanyMember
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: | us-gaap_RelatedPartyTransactionAxis=ess_ManagementAndOtherFeesFromAffiliatesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RelatedPartyTransactionAxis=ess_RevenuesFromDevelopmentAndRedevelopmentFeesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |