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Significant Transactions During the Three Months Ended March 31, 2025 and Subsequent Events (Tables) | 3 Months Ended
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Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Acquired Real Estate Investments |
Property Name |  | Location |  | Apartment Homes |  | Essex Ownership Percentage |  | Contract Price at Pro Rata Share |
The Plaza |  | CA |  | 307 |  | 100% |  | $ | 161.4 |  |
One Hundred Grand |  | CA |  | 166 |  | N/A |  | 105.3 |  | (1)
ROEN Menlo Park |  | CA |  | 146 |  | 100% |  | 78.8 |  |
Total acquisitions |  | 619 |  |  |  | $ | 345.5 |  |
(1) One Hundred Grand replaced Highridge, an apartment community owned by DownREIT entities that are consolidated by the Company, within the DownREIT structures of those entities pursuant to the like-kind exchange rules under Section 1031 of the Internal Revenue Code of 1986, as amended (“Section 1031 Exchange”).
Schedule of Sales Of Real Estate Investments |
Property Name |  | Location |  | Apartment Homes |  | Sale Price at Pro Rata Share |
Highridge |  | CA |  | 255 |  | $ | 127.0 |  | (1)
Total dispositions |  | 255 |  | $ | 127.0 |  |
(1) Highridge, an apartment community owned by DownREIT entities that are consolidated by the Company, was replaced by One Hundred Grand within the DownREIT structures of those entities pursuant to a Section 1031 Exchange. The Company recognized a $111.0 million gain on sale of real estate and land in the condensed consolidated statements of income and comprehensive income. In conjunction with the sale, $69.6 million in debt associated with the property was paid off and the Company recorded a $0.8 million loss on early extinguishment of debt.

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