Commitments and Contingencies

9 Months Ended

Sep. 30, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Although the mortgage loans obtained by the Company are generally non-recourse, occasionally, when it is deemed necessary, the Company may guarantee all or a portion of the debt on a full-recourse basis. As of September 30, 2012, the Company has guaranteed $17,030 of its outstanding mortgage and construction loans and $535,000 of its unsecured credit facility, with maturity dates ranging from February 11, 2013 through September 30, 2016.

Effective January 1, 2012, the Company and the Group initiated a self-funded group medical benefits plan for their respective employees. The Company and the Group independently entered into separate service agreements with a third party administrator (TPA), which can be terminated without cause, at any time, by giving notice to the TPA at least 25 days prior to the termination date. The TPA is responsible for claims administration, review of claims for payment, payment of claims on behalf of the Company and the Group, adjudication of the claims, and to provide stop loss coverage. The Company and the Group collectively entered into a stop loss agreement provided by the TPA, where the Company and the Group are reimbursed for individual claims in excess of $140 and total aggregate claims in excess of approximately $9,303 for the calendar year ended December 31, 2012. As of September 30, 2012, the total aggregate claims paid were $6,563, of which $1,484 related to the Company. As of September 30, 2012, the Company had a liability of $227, which represented claims incurred but not paid and estimated claims incurred but not reported.