XML 22 R79.htm IDEA: XBRL DOCUMENT v3.2.0.727
Net Gain on Change in Control of Interests (Details Textuals)
1 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2015
USD ($)
properties
Jun. 30, 2015
USD ($)
properties
Jun. 30, 2014
USD ($)
Jun. 30, 2015
USD ($)
properties
Jun. 30, 2014
USD ($)
Apr. 30, 2015
properties
Net Gain on Change in Control of Interest [Line Items]            
Net gain on change in control of interests   $ 487,684,000 $ 0 $ 487,684,000 $ 2,759,000  
University Park at MIT [Member]            
Net Gain on Change in Control of Interest [Line Items]            
Partner's equity ownership acquired 49.00% 49.00%   49.00%    
Number of properties acquired | properties 7 7   7    
Company's ownership interest after acquisition 100.00% 100.00%   100.00%    
Number of parking facilities 2 2   2    
Ownership percentage prior to sale 51.00% 51.00%   51.00%    
In-place leases $ 78,000,000 $ 78,000,000   $ 78,000,000    
Below market tenant leases 49,000,000 49,000,000   $ 49,000,000    
Weighted-average discount rate applied to cash flows       7.00%    
Weighted-average terminal capitalization rate       6.00%    
Net gain on change in control of interests       $ 463,643,000    
Gain on change in control of interests, tax       $ 179,815,000    
University Park at MIT [Member] | Above Market Leases [Member]            
Net Gain on Change in Control of Interest [Line Items]            
Weighted average life       3 years 7 months    
University Park at MIT [Member] | Below-market tenant leases [Member]            
Net Gain on Change in Control of Interest [Line Items]            
Weighted average life       3 years 7 months    
University Park at MIT [Member] | Below-market ground leases [Member]            
Net Gain on Change in Control of Interest [Line Items]            
Ground leases 20,000,000 20,000,000   $ 20,000,000    
Acquired ground leases, weighted average life       60 years    
University Park at MIT [Member] | Above-market ground leases [Member]            
Net Gain on Change in Control of Interest [Line Items]            
Ground leases 24,000,000 $ 24,000,000   $ 24,000,000    
Acquired ground leases, weighted average life       58 years    
University Park at MIT [Member] | May 2015 Common Stock Issuance [Member]            
Net Gain on Change in Control of Interest [Line Items]            
Net proceeds to finance acquisition $ 386,156,000     $ 386,156,000    
Apartment Communities transaction [Member]            
Net Gain on Change in Control of Interest [Line Items]            
Partner's equity ownership acquired           50.00%
Number of properties acquired | properties           3
Company's equity ownership exchanged           50.00%
Number of properties exchanged | properties           5
Company's ownership interest after acquisition           100.00%