What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2024-02-23 compared with 2023-02-23 · 23 added, 24 removed, 365 unchanged (11% of the section changed)

23 unchanged sentences

Commercial Buildings

The Company owns three commercial buildings with approximately 283,000 square feet located in California and Washington, of which the Company occupied approximately 13,000 square feet as of December 31, 2022.

The Company owns three commercial buildings (totaling approximately 283,000 square feet) located in California and Washington, of which the Company occupied an aggregate of approximately 35,000 square feet as of December 31, 2023.

Furthermore, as of December 31, 2023, the commercial buildings' physical occupancy rate was 90% consisting of 7 tenants, including the Company.

1 unchanged sentence

The table below describes the Company’s operating portfolio as of December 31, 2023.

(See Note 8, "Mortgage Notes Payable" to the Company’s consolidated financial statements included in Part IV, Item 15 of this Annual Report on Form 10-K for more

information about the Company’s secured mortgage debt and Schedule III thereto for a list of secured mortgage loans related to the Company’s portfolio.)

(See Note 8, "Mortgage Notes Payable" to the Company’s consolidated financial statements included in Part IV, Item 15 of this Annual Report on Form 10-K for more information about the Company’s secured mortgage debt and Schedule III thereto for a list of secured mortgage loans related to the Company’s portfolio.)

Apartment Year Year

11 unchanged sentences

Camino Ruiz Square Camarillo, CA Garden 160 1990 2006 97%

Hacienda at Camarillo Oaks Camarillo, CA Garden 73 1984 2023 86%

Pinnacle at Otay Ranch I & II Chula Vista, CA Mid-rise 364 2001 2014 97%

15 unchanged sentences

The Henley II Glendale, CA Mid-rise 132 1970 1999 97%

CBC and The Sweeps Goleta, CA Garden 239 1962 2006 99%

Huntington Breakers Huntington Beach, CA Mid-rise 342 1984 1997 97%

18 unchanged sentences

Emerson Valley Village Los Angeles, CA Mid-rise 144 2012 2016 97%

Gas Company Lofts (6)

Los Angeles, CA High-rise 251 2004 2013 96%

The Blake LA Los Angeles, CA Mid-rise 196 1979 1997 97%

Marbella Los Angeles, CA Mid-rise 60 1991 2005 96%

Apartment Year Year

2 unchanged sentences

Occupancy (2)

Gas Company Lofts (6)

Los Angeles, CA High-rise 251 2004 2013 95%

The Blake LA Los Angeles, CA Mid-rise 196 1979 1997 98%

Marbella Los Angeles, CA Mid-rise 60 1991 2005 97%

Pacific Electric Lofts (8)

47 unchanged sentences

Summit Park San Diego, CA Garden 300 1972 2002 97%

Apartment Year Year

Communities (1)

Location Type Homes Built Acquired (20)

Occupancy (2)

Essex Skyline (11)

4 unchanged sentences

Santa Ana, CA Mid-rise 210 1986 2014 96%

Apartment Year Year

Communities (1)

Location Type Homes Built Acquired (20)

Occupancy (2)

Pinnacle at MacArthur Place Santa Ana, CA Mid-rise 253 2002 2014 97%

55 unchanged sentences

Newark, CA Garden 184 1987 1987 98%

The Landing at Jack London Square Oakland, CA Mid-rise 282 2001 2014 96%

The Grand Oakland, CA High-rise 243 2009 2009 95%

The Galloway Pleasanton, CA Mid-rise 506 2016 2016 96%

Apartment Year Year

2 unchanged sentences

Occupancy (2)

The Landing at Jack London Square Oakland, CA Mid-rise 282 2001 2014 95%

The Grand Oakland, CA High-rise 243 2009 2009 95%

The Galloway Pleasanton, CA Mid-rise 506 2016 2016 97%

Radius Redwood City, CA Mid-rise 264 2015 2015 97%

52 unchanged sentences

Bristol Commons Sunnyvale, CA Garden 188 1989 1995 97%

Apartment Year Year

Communities (1)

Location Type Homes Built Acquired (20)

Occupancy (2)

Brookside Oaks (4)

3 unchanged sentences

Sunnyvale, CA Garden 32 2001 2007 97%

Apartment Year Year

Communities (1)

Location Type Homes Built Acquired (20)

Occupancy (2)

Magnolia Square (4)

46 unchanged sentences

Mill Creek, WA Garden 139 2003 2021 96%

Parkwood at Mill Creek Mill Creek, WA Garden 240 1989 2014 97%

The Elliot at Mukilteo (4)

Mukilteo, WA Garden 301 1981 1997 96%

Castle Creek Newcastle, WA Garden 216 1998 1998 98%

Apartment Year Year

2 unchanged sentences

Occupancy (2)

Parkwood at Mill Creek Mill Creek, WA Garden 240 1989 2014 97%

The Elliot at Mukilteo (4)

Mukilteo, WA Garden 301 1981 1997 97%

Castle Creek Newcastle, WA Garden 216 1998 1998 97%

Elevation Redmond, WA Garden 158 1986 2010 97%

29 unchanged sentences

(1) Unless otherwise specified, the Company consolidates each community in accordance with U.S.

(2) For communities, occupancy rates are based on financial occupancy for the year ended December 31, 2022, except for communities that were stabilized during the year, in which case occupancy as of December 31, 2022 was used.

(2) For communities, occupancy rates are based on financial occupancy for the year ended December 31, 2023, except for communities that were stabilized during the year, in which case physical occupancy as of December 31, 2023 was used.

For an explanation of how financial occupancy is calculated, see "Occupancy Rates" in this Item 2.

25 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties