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v3.25.3

Segment Information - Schedule of Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands | Sep. 30, 2025 | Dec. 31, 2024 | Sep. 30, 2024 | Dec. 31, 2023
--- | --- | --- | --- | ---
Revenues from External Customers and Long-Lived Assets [Line Items] |  |  |  |
Net reportable operating segments - real estate assets | $ 11,689,320 | $ 11,438,900 |  |
Real estate under development | 139,161 | 52,682 |  |
Co-investments | 808,238 | 935,014 |  |
Cash and cash equivalents, including restricted cash | 75,243 | 75,846 | $ 80,263 | $ 400,334
Marketable securities | 84,116 | 69,794 |  |
Notes and other receivables | 221,628 | 206,706 |  |
Operating lease right-of-use assets | 51,682 | 51,556 |  |
Prepaid expenses and other assets | 80,853 | 96,861 |  |
Total assets | 13,150,241 | 12,927,359 |  |
Operating Segments | Southern California |  |  |  |
Revenues from External Customers and Long-Lived Assets [Line Items] |  |  |  |
Net reportable operating segments - real estate assets | 4,061,622 | 4,162,462 |  |
Operating Segments | Northern California |  |  |  |
Revenues from External Customers and Long-Lived Assets [Line Items] |  |  |  |
Net reportable operating segments - real estate assets | 6,038,112 | 5,414,689 |  |
Operating Segments | Seattle Metro |  |  |  |
Revenues from External Customers and Long-Lived Assets [Line Items] |  |  |  |
Net reportable operating segments - real estate assets | 1,426,094 | 1,460,865 |  |
Other real estate assets |  |  |  |
Revenues from External Customers and Long-Lived Assets [Line Items] |  |  |  |
Net reportable operating segments - real estate assets | $ 163,492 | $ 400,884 |  |

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