Investment in Unconsolidated Entities (Details 1) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
Liabilities and Equity
Carrying value of investment in unconsolidated entities	$ 323,268		$ 22,555
HSRE and DCV Holdings [Member]
Assets
Student housing properties, net	326,956		143,108
Other assets	17,883		40,154
Total assets	344,839		183,262
Liabilities and Equity
Mortgage and construction loans	128,537		92,456
Other liabilities	42,337		30,402
Owners’ equity	173,965		60,404
Total liabilities and owners' equity	344,839		183,262
Company's share of historical owners' equity	33,163		14,078
Preferred investment	49,521	[1]	11,828	[1]
Net difference in carrying value of investment versus net book value of underlying net assets	(1,237)	[2]	(3,351)	[2]
Carrying value of investment in unconsolidated entities	81,447		22,555
Copper Beech [Member]
Assets
Student housing properties, net	953,835
Intangible assets	7,230
Other assets	9,557
Total assets	970,622
Liabilities and Equity
Mortgage and construction loans	515,859
Other liabilities	20,073
Owners’ equity	434,690
Total liabilities and owners' equity	970,622
Company's share of historical owners' equity	225,181
Net difference in carrying value of investment versus net book value of underlying net assets	16,640	[3]
Carrying value of investment in unconsolidated entities	$ 241,821

[1] As of September 30, 2013, we held aggregate Class B interests in The Grove at Greensboro, The Grove at Louisville, Kentucky, The Grove at San Angelo, Texas, The Grove at Indiana, Pennsylvania, and The Grove at Conway, Arkansas of approximately $16.5 million, entitling us to a 9.0% return on our investment, as well as a Class A interest in DCV Holdings of $33.0 million, entitling us to a 5.22% return on our investment. As of December 31, 2012, we held aggregate Class B interests in The Grove at San Angelo, Texas, The Grove at Indiana, Pennsylvania, and The Grove at Conway, Arkansas of approximately $11.8 million. These preferred interests entitle us to a return on our investment but otherwise do not change our effective ownership interest in these properties.

[2] This amount represents the aggregate difference between our historical cost basis and the basis reflected at the entity level, which is typically amortized over the life of the related asset. The basis differential occurs primarily due to the difference between the allocated value to acquired entity interests and the venture’s basis in those interests, the capitalization of additional investment in the unconsolidated entity and the elimination of service related revenue to the extent of our percentage ownership.

[3] This amount represents the aggregate difference between our historical cost basis and the basis reflected at the entity level, which is typically amortized over the life of the related asset. The basis differential occurs primarily due to the capitalization of additional investment in the unconsolidated entity.