CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Operating activities:
Net income (loss)	$ 2,167	$ (980)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	6,439	5,856
Amortization of deferred financing costs	358	1,441
Provision for bad debts	343	397
Equity in (earnings) loss of unconsolidated entities	(410)	60
Distributions of earnings from unconsolidated entities	85	0
Share-based compensation expense	576	108
Changes in operating assets and liabilities:
Restricted cash	452	(258)
Student receivables	(48)	(190)
Construction billings	(2,929)	(9,486)
Accounts payable and accrued expenses	514	5,858
Other	(4,080)	3,477
Net cash provided by operating activities	3,467	6,283
Investing activities:
Investments in development in process	(23,718)	(22,228)
Investments in student housing properties	(1,977)	(1,890)
Acquisitions of student housing properties, net of cash acquired	(13,801)	0
Investments in unconsolidated entities	(139,051)	(1,368)
Capital distributions from unconsolidated entities	389	0
Issuance of notes receivable	(36,245)	0
Purchase of corporate fixed assets	(1,265)	(118)
Change in restricted cash	(109,109)	0
Net cash used in investing activities	(324,777)	(25,604)
Financing activities:
Proceeds from mortgage and construction loans	7,736	0
Repayments of mortgage and construction loans	(12,935)	(49,040)
Proceeds from line of credit and other debt	58,000	14,500
Repayments of line of credit and other debt	(17,800)	0
Debt issuance costs	(256)	(19)
Dividends paid to common stockholders	(6,167)	(4,913)
Dividends paid to preferred stockholders	(1,150)	0
Dividends to noncontrolling interests	(72)	(70)
Proceeds from sale of preferred stock	0	57,500
Proceeds from sale of common stock	312,743	0
Payment of offering costs	(13,036)	(2,221)
Net cash provided by financing activities	327,063	15,737
Net change in cash and cash equivalents	5,753	(3,584)
Cash and cash equivalents at beginning of period	5,970	10,735
Cash and cash equivalents at end of period	11,723	7,151
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized	1,909	2,655
Cash paid for income taxes	93	286
Non-cash investing and financing activity:
Common and preferred stock dividends declared but not paid	11,850	5,899
Change in payables related to dividends to common and preferred stockholders and noncontrolling interest	4,461	724
Change in payables related to capital expenditures	(2,040)	4,659
Change in payables related to investment in unconsolidated entities	$ 4,146	$ 0