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Debt (Tables)

12 Months Ended

Dec. 31, 2012

Debt Disclosure [Abstract]

Schedule Of Mortgage Loans Construction Loans and Line Of Credit [Table Text Block]

A detail of our construction and mortgage loans, line of credit, and other debt is presented below (in thousands):

		As of December 31,
		2012				2011

Fixed-rate mortgage loans		$	166,706			$	109,276
Variable-rate mortgage loans			12,635				28,726
Construction loans			38,996				48,912
Line of credit			72,000				79,500
Other debt			3,375				2,552
		$	293,712			$	268,966

Schedule Of Debt Instrument [Table Text Block]

Mortgage and construction loans for the periods presented consisted of the following (in thousands):

						Principal				Principal
						Outstanding				Outstanding						Interest
		Face				at				at				Stated Interest		Rate at				Maturity
		Amount				12/31/2012				12/31/2011				Rate		12/31/2012				Date				Amortization
Construction loans
The Grove at Orono		$	15,206			$	10,506			$	-			LIBOR + 275 bps			2.96	%			6/30/2014	⁽¹⁾		Interest only
The Grove at Auburn			16,294				13,157				-			LIBOR + 295 bps			3.16	%			7/22/2014	⁽²⁾		Interest only
The Grove at Flagstaff			19,842				15,331				-			Prime + 25 bps /			3.06	%			12/9/2014	⁽³⁾		Interest only
														LIBOR + 250 bps
The Grove at Muncie			14,567				1				-			LIBOR + 225 bps			2.46	%			7/3/2015	(4)		Interest only
The Grove at Fort Collins			19,073				1				-			LIBOR + 225 bps			2.46	%			7/13/2015	⁽⁵⁾		Interest only
The Grove at Pullman			16,016				-				-			LIBOR + 220 bps			2.41	%			9/5/2015	⁽⁶⁾		Interest only
Construction (three properties)			37,523				-				33,536			LIBOR + 475 bps			N/A	⁽⁷⁾			N/A	⁽⁷⁾		Interest only
Mortgage loans
The Grove at Carrollton and The Grove at Las Cruces			29,790				29,408				29,738			6.13%			6.13	%			10/11/2016			30 years	⁽⁸⁾
The Grove at Huntsville			12,635				12,635				12,635	⁽⁹⁾		LIBOR + 250 bps			2.71	%			1/9/2013	⁽¹⁰⁾		Interest only
The Grove at Stateboro			18,100				18,100				16,091	⁽⁹⁾		4.01%			4.01	%			1/1/2023			30 years
The Grove at Asheville			14,800				14,684				14,800			5.77%			5.77	%			4/11/2017			30 years	⁽⁸⁾
The Grove at Milledgeville			16,250				16,041				16,221			6.12%			6.12	%			10/1/2016			30 years	⁽⁸⁾
The Grove at Ellensburg			16,125				16,125				16,125			5.10%			5.10	%			9/1/2018			30 years	⁽¹¹⁾
The Grove at Nacogdoches			17,160				17,160				17,160			5.01%			5.01	%			9/1/2018			30 years	⁽¹¹⁾
The Grove at Greeley			15,233				15,233				15,233			4.29%			4.29	%			10/1/2018			30 years	⁽¹¹⁾
The Grove at Clarksville			16,350				16,350				-			4.03%			4.03	%			7/1/2022			30 years	⁽¹¹⁾ ⁽¹²⁾
The Grove at Columbia			23,775				23,605				15,375			3.83%			3.83	%			7/1/2022			30 years	⁽¹³⁾
						$	218,337			$	186,914

(1)

The construction loan matures on June 30, 2014, but can be extended until December 31, 2015, subject to certain conditions.

(2)

The construction loan matures on July 22, 2014, but can be extended until October 22, 2015, subject to certain conditions.

(3)

The construction loan matures on December 9, 2014, but can be extended until April 9, 2015, subject to certain conditions.

(4)

The construction loan matures on July 3, 2015, but can be extended until July 3, 2016 and/or July 3, 2017, subject to certain conditions.

(5)

The construction loan matures on July 13, 2015, but can be extended until July 13, 2016 and/or July 13, 2017, subject to certain conditions.

(6)

The construction loan matures on September 5, 2015, but can be extended until September 5, 2016 and/or September 5, 2017, subject to certain conditions.

(7)

Not applicable as the loan was paid off during the first quarter of 2012.

(8)

Loans require interest only payments, plus certain reserves and escrows, that are payable monthly for a period of five years. Monthly payments of principal and interest, plus certain reserve and escrow amounts, are due thereafter until maturity when all principal is due.

(9)

Amounts were originally combined in December 31, 2011.

(10)

Loan was paid off during the first quarter of 2013.

(11)

Interest only for the first two years, followed by 30 year amortization.

(12)

Loan requires interest only payments, plus certain reserves and escrows payable monthly through August 2014, thereafter, principal and interest, plus certain reserves and escrows that are payable monthly until maturity.

(13)

Loan requires monthly payments of principal and interest, plus certain reserve and escrows, are due thereafter until maturity when all principal is due.

Schedule of Maturities of Long-term Debt [Table Text Block]

Scheduled debt maturities for each of the five years subsequent to December 31, 2012 and thereafter, are as follows (in thousands):

2013		$	86,690	⁽¹⁾
2014			41,583
2015			2,868
2016			46,050
2017			16,128
Thereafter			100,393
		$	293,712

(1)

Includes our Credit Facility. In January 2013, we amended our Credit Facility, thereby extending the maturity date to January 2017, subject to a one-year extension option.