PREFERRED EQUITY INVESTMENT AND DERIVATIVE INVESTMENT RECEIVABLE (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended
	Dec. 31, 2013 properties	Dec. 31, 2013 apartment_community state properties
Equity [Abstract]
Number Of Apartment Properties To Be Acquired		14
Apartment Properties to be Acquired, Number of States		6
Payments to Acquire Interest in Joint Venture		$ 15
Preferred Equity Investment Redemption, Extended Option Period		1 year
Redemption Extend Fee		0.3
Annualized Return On Joint Venture Investment Percentage		15.00%
Exit Fee Receivable Based On Original Investment		4.00%
Exit Fee Rate Of Preferred Membership Interest		1.50%
Percentage Of Retain Interest On Return On Joint Venture Investment		15.00%
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital		19.0
Senior Notes	95.3	95.3
Collateral Already Posted, Aggregate Fair Value	110.0	110.0
Number of Operating Multifamily Properties in Collateral	12	12
Average Occupancy Rate of Operating Multifamily Properties in Collateral		82.90%
Exit Fee Rate Of Derivative Investment Receivable		1.50%
Underlying Assets Fair Value	190	190
Fair Value Inputs, Discount Rate		12.00%
Derivative Investment Receivable Exit Fee	2.25	2.25
Investment income relating to the recognition of the preferred return and amortization of the exit fee		2.1
Gain on disposition of preferred equity investment		3.0
Proceeds from serving as a limited guarantor member	$ 0.3