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v3.25.1

Investment in Unconsolidated Joint Ventures (Narrative) (Details) $ in Thousands |  |  | 3 Months Ended
--- | --- | --- | ---
Mar. 05, 2025 USD ($) ft² apartments | Feb. 27, 2025 USD ($) ft² | Mar. 31, 2025 USD ($) Real_Estate_Properties | Mar. 31, 2024 USD ($)
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Repayments of Secured Debt |  |  |  | $ 1,122 |  | $ 804
Loss from early extinguishment of debt |  |  |  | 338 |  | 0
Payments to Acquire Equity Method Investments |  |  |  | $ 52,611 |  | 26,457
Residential Building |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Number of real estate properties | Real_Estate_Properties |  |  |  | 8 |  |
7750 Wisconsin Avenue LLC [Member] |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Ownership Percentage |  |  | 50.00% | 50.00% |  |
CAB 290 Coles Venture LLC |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Ownership Percentage |  | 19.46% |  | 19.46% | [1] |
Payments to Acquire Equity Method Investments |  | $ 20,000 |  |  |  |
CAB 290 Coles Holdco LLC |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Ownership Percentage | [1],[2] |  |  | 0.00% |  |
CAB 290 Coles Holdco LLC | Maximum [Member] | Forecast |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Payments to Acquire Equity Method Investments |  | $ 65,000 |  |  |  |
Internal Rate of return on preferred equity |  | 13.00% |  |  |  |
Unconsolidated Joint Ventures [Member] |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Loss from early extinguishment of debt |  |  |  | $ 62 |  | $ 0
7750 Wisconsin Avenue [Member] | Unconsolidated Properties |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Net Rentable Area (in sf) | ft² |  |  | 736,000 |  |  |
7750 Wisconsin Avenue [Member] | Unconsolidated Properties | Construction Loans |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Repayments of Secured Debt |  |  | $ 252,000 |  |  |
Loss from early extinguishment of debt |  |  |  | $ 100 |  |
7750 Wisconsin Avenue [Member] | Unconsolidated Properties | Mortgages [Member] |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Debt |  |  | $ 252,000 |  |  |
Debt Instrument, Interest Rate, Stated Percentage |  |  | 5.49% |  |  |
290 Coles Street | Unconsolidated Properties | Residential Building |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Net Rentable Area (in sf) | ft² |  | 560,000 |  |  |  |
Number of Units in Real Estate Property | apartments |  | 670 |  |  |  |
290 Coles Street | Unconsolidated Properties | Construction Loans |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  | 2.50% |  |  |  |
Debt |  | $ 225,000 |  |  |  |
Extension Option (in years) |  | 1 |  |  |  |
[1] | This entity is a VIE (See Note 2).
[2] | T he Company agreed to fund up to $65.0 million of the required capital through its preferred equity investment. The Company’s preferred equity investment is expected to earn a 13.0% internal rate of return (“IRR”) and is to be redeemed, in full, upon the earlier of two years after stabilization of the property or March 5, 2030.

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