CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Operating activities:
Net income (loss)	$ (520)	$ (1,115)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	11,730	10,366
Amortization of deferred financing costs	1,869	558
Provision for bad debts	934	555
Change in non-cash portion of fair value of unhedged derivatives	0	(337)
Equity in (earnings) loss of unconsolidated entities	114	635
Distribution of accumulated earnings from unconsolidated entities	237	0
Compensation Expense Related To Share Based Payments	430	125
Changes in operating assets and liabilities:
Restricted cash	(1,149)	1,479
Student receivables	(673)	(264)
Construction billings	(5,612)	(4,737)
Accounts payable and accrued expenses	4,722	4,220
Other	(493)	(86)
Net cash provided by (used in) operating activities	11,589	11,399
Investing activities:
Investments in development in process	(53,771)	(40,259)
Investments in student housing properties	(3,110)	(756)
Investments in unconsolidated entities	(1,971)	(3,115)
Distributions from unconsolidated entities	2,604	5,082
Purchase of corporate furniture, fixtures and equipment	(450)	(28)
Net cash provided by (used in) investing activities	(56,698)	(39,076)
Financing activities:
Proceeds from mortgage notes payable	61,153	11,724
Repayments of mortgage notes payable	(49,191)	0
Proceeds from line of credit and other debt	31,000	32,000
Repayments of line of credit and other debt	(30,077)	0
Debt issuance costs	(529)	(553)
Proceeds from sale of preferred stock	57,500	0
Payment of offering costs	(2,399)	(134)
Dividends on common stock	(9,885)	(8,808)
Dividends on preferred stock	(856)	0
Dividends to noncontrolling interests	(141)	(125)
Net cash provided by (used in) financing activities	56,575	34,104
Net change in cash and cash equivalents	11,466	6,427
Cash and cash equivalents at beginning of period	10,735	2,327
Cash and cash equivalents at end of period	22,201	8,754
Supplemental disclosure of cash flow information:
Cash paid for interest	5,293	2,928
Cash paid for income taxes	558	4
Non-cash investing and financing activity:
Change in payables related to dividends to stockholders	1,018	1,012
Change in payables related to dividends to noncontrolling interests	0	15
Change in payables related to capital expenditures	2,190	16,387
Contribution of development in process to unconsolidated entity	$ 2,893	$ 7,666