Fair Value of Derivatives and Financial Instruments (UNITED DOMINION REALTY, L.P.) (Tables)

6 Months Ended

Jun. 30, 2013

Entity Information [Line Items]

Estimated fair values

The estimated fair values of the Company’s financial instruments either recorded or disclosed on a recurring basis as of June 30, 2013 and December 31, 2012 are summarized as follows (dollars in thousands):

					Fair Value at June 30, 2013, Using
	Total Carrying Amount in Statement of Financial Position at June 30, 2013		Fair Value Estimate at June 30, 2013		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description:
Notes receivable (a)	$	66,700	$	67,618	$	—	$	—	$	67,618
Derivatives- Interest rate contracts (b)	1		1		—		1		—
Total assets	$	66,701	$	67,619	$	—	$	1	$	67,618
Derivatives- Interest rate contracts (b)	$	7,560	$	7,560	$	—	$	7,560	$	—
Secured debt instruments- fixed rate: (c)
Mortgage notes payable	450,641		471,742		—		—		471,742
Fannie Mae credit facilities	628,284		658,532		—		—		658,532
Secured debt instruments- variable rate: (c)
Tax-exempt secured notes payable	94,700		94,700		—		—		94,700
Fannie Mae credit facilities	211,409		211,409		—		—		211,409
Unsecured debt instruments: (c)
Commercial bank	228,500		228,500		—		—		228,500
Senior unsecured notes	1,781,189		1,863,768		—		—		1,863,768
Total liabilities	$	3,402,283	$	3,536,211	$	—	$	7,560	$	3,528,651
Redeemable noncontrolling interests (d)	$	237,653	$	237,653	$	—	$	237,653	$	—

					Fair Value at December 31, 2012, Using
	Total Carrying Amount in Statement of Financial Position at December 31, 2012		Fair Value Estimate at December 31, 2012		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description:
Notes receivable (a)	$	64,006	$	64,930	$	—	$	—	$	64,930
Derivatives- Interest rate contracts (b)	2		2		—		2		—
Total assets	$	64,008	$	64,932	$	—	$	2	$	64,930
Derivatives- Interest rate contracts (b)	$	11,022	$	11,022	$	—	$	11,022	$	—
Secured debt instruments- fixed rate: (c)
Mortgage notes payable	455,533		494,728		—		—		494,728
Fannie Mae credit facilities	631,078		689,295		—		—		689,295
Secured debt instruments- variable rate: (c)
Mortgage notes payable	37,415		37,415		—		—		37,415
Tax-exempt secured notes payable	94,700		94,700		—		—		94,700
Fannie Mae credit facilities	211,409		211,409		—		—		211,409
Unsecured debt instruments: (c)
Commercial bank	76,000		76,000		—		—		76,000
Senior unsecured notes	1,903,198		2,039,736		—		—		2,039,736
Total liabilities	$	3,420,355	$	3,654,305	$	—	$	11,022	$	3,643,283
Redeemable noncontrolling interests (d)	$	223,418	$	223,418	$	—	$	223,418	$	—

(a) See Note 2, Significant Accounting Policies

(b) See Note 10, Derivatives and Hedging Activity

(c) See Note 6, Secured and Unsecured Debt

(d) See Note 8, Noncontrolling Interests

United Dominion Reality L.P. [Member]

Entity Information [Line Items]

Estimated fair values

The estimated fair values of the Operating Partnership’s financial instruments either recorded or disclosed on a recurring basis as of June 30, 2013 and December 31, 2012 are summarized as follows (dollars in thousands):

					Fair Value at June 30, 2013, Using
	Total Carrying Amount in Statement of Financial Position on June 30, 2013		Fair Value Estimate at June 30, 2013		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description:
Derivatives- Interest rate contracts (a)	$	1	$	1	$	—	$	1	$	—
Total assets	$	1	$	1	$	—	$	1	$	—
Derivatives- Interest rate contracts (a)	$	3,490	$	3,490	$	—	$	3,490	$	—
Secured debt instruments- fixed rate: (b)
Mortgage notes payable	390,923		409,771		—		—		409,771
Fannie Mae credit facilities	379,167		392,762		—		—		392,762
Secured debt instruments- variable rate: (b)
Tax-exempt secured notes payable	27,000		27,000		—		—		27,000
Fannie Mae credit facilities	142,058		142,058		—		—		142,058
Total liabilities	$	942,638	$	975,081	$	—	$	3,490	$	971,591

					Fair Value at December 31, 2012, Using
	Total Carrying Amount in Statement of Financial Position on December 31, 2012		Fair Value Estimate at December 31, 2012		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description:
Derivatives- Interest rate contracts (a)	$	2	$	2	$	—	$	2	$	—
Total assets	$	2	$	2	$	—	$	2	$	—
Derivatives- Interest rate contracts (a)	$	4,750	$	4,750	$	—	$	4,750	$	—
Secured debt instruments- fixed rate: (b)
Mortgage notes payable	394,999		429,973		—		—		429,973
Fannie Mae credit facilities	370,638		399,389		—		—		399,389
Secured debt instruments- variable rate: (b)
Mortgage notes payable	37,415		37,415		—		—		37,415
Tax-exempt secured notes payable	27,000		27,000		—		—		27,000
Fannie Mae credit facilities	137,187		137,187		—		—		137,187
Total liabilities	$	971,989	$	1,035,714	$	—	$	4,750	$	1,030,964

(a) See Note 8, Derivatives and Hedging Activity

(b) See Note 5, Debt