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Organization and Basis of Presentation (Tables) | 3 Months Ended
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Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Components of Marketable Securities | As of March 31, 2025 and December 31, 2024, marketable securities consisted of the following ($ in thousands):
| March 31, 2025
| Amortized Cost |  | Gross Unrealized Gain (Loss) |  | Carrying Value |  |  |  |
Equity securities: |  |  |  |  |  |  |  |  |
Investment funds - debt securities | $ | 2,676 |  |  | $ | (22) |  |  | $ | 2,654 |  |  |  |  |
Common stock, preferred stock and stock funds | 49,247 |  |  | 17,881 |  |  | 67,128 |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |
Available for sale |  |  |  |  |  |  |  |  |
U.S. treasury securities | 3,125 |  |  | 12 |  |  | 3,137 |  |  |  |  |
Corporate debt securities | 3,089 |  |  | 5 |  |  | 3,094 |  |  |  |  |
Total - Marketable securities | $ | 58,137 |  |  | $ | 17,876 |  |  | $ | 76,013 |  |  |  |  |
| December 31, 2024
| Amortized Cost |  | Gross Unrealized Gain (Loss) |  | Carrying Value |  |  |  |
Equity securities: |  |  |  |  |  |  |  |  |
Investment funds - debt securities | $ | 2,645 |  |  | $ | (67) |  |  | $ | 2,578 |  |  |  |  |
Common stock, preferred stock and stock funds | 49,195 |  |  | 18,021 |  |  | 67,216 |  |  |  |  |
Total - Marketable securities | $ | 51,840 |  |  | $ | 17,954 |  |  | $ | 69,794 |  |  |  |  |
Schedule of Changes in Accumulated Other Comprehensive Income, Net by Component | Changes in Accumulated Other Comprehensive Income, Net by Component Essex Property Trust, Inc. ($ in thousands):
| Change in fair value and amortization of swap settlements |  | Unrealized gain on available for sale debt securities |  | Total
Balance at December 31, 2024 | $ | 24,655 |  |  | $ | — |  |  | $ | 24,655 |
Other comprehensive loss before reclassification | (9,053) |  |  | 16 |  |  | (9,037) |
Amounts reclassified from accumulated other comprehensive income | 2 |  |  | — |  |  | 2 |
Other comprehensive loss | (9,051) |  |  | 16 |  |  | (9,035) |
Balance at March 31, 2025 | $ | 15,604 |  |  | $ | 16 |  |  | $ | 15,620 |
Essex Portfolio, L.P. ($ in thousands):
| Change in fair value and amortization of swap settlements |  | Unrealized gain on available for sale debt securities |  | Total
Balance at December 31, 2024 | $ | 29,429 |  |  | $ | — |  |  | $ | 29,429 |
Other comprehensive loss before reclassification | (9,374) |  |  | 17 |  |  | (9,357) |
Amounts reclassified from accumulated other comprehensive income | 2 |  |  | — |  |  | 2 |
Other comprehensive loss | (9,372) |  |  | 17 |  |  | (9,355) |
Balance at March 31, 2025 | $ | 20,057 |  |  | $ | 17 |  |  | $ | 20,074 |
Schedule of Changes to the Redemption Value of Noncontrolling Interests | The changes in the redemption value of redeemable noncontrolling interests for the three months ended March 31, 2025 is as follows ($ in thousands):
Balance at December 31, 2024 | $ | 30,849 |
Reclassification due to change in redemption value and other | 3,527 |
Balance at March 31, 2025 | $ | 34,376 |
Schedule of Cash and Cash Equivalents | The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows ($ in thousands):
| March 31, 2025 |  | December 31, 2024 |  | March 31, 2024 |  | December 31, 2023
Cash and cash equivalents - unrestricted | $ | 98,735 |  |  | $ | 66,795 |  |  | $ | 499,036 |  |  | $ | 391,749 |
Cash and cash equivalents - restricted | 9,127 |  |  | 9,051 |  |  | 8,834 |  |  | 8,585 |
Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statements of cash flows | $ | 107,862 |  |  | $ | 75,846 |  |  | $ | 507,870 |  |  | $ | 400,334 |
Schedule of Restricted Cash and Cash Equivalents | The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows ($ in thousands):
| March 31, 2025 |  | December 31, 2024 |  | March 31, 2024 |  | December 31, 2023
Cash and cash equivalents - unrestricted | $ | 98,735 |  |  | $ | 66,795 |  |  | $ | 499,036 |  |  | $ | 391,749 |
Cash and cash equivalents - restricted | 9,127 |  |  | 9,051 |  |  | 8,834 |  |  | 8,585 |
Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statements of cash flows | $ | 107,862 |  |  | $ | 75,846 |  |  | $ | 507,870 |  |  | $ | 400,334 |

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