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Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash Flows From Operating Activities:    
Consolidated net income $ 45,444,000 $ 38,641,000
Adjustments to reconcile consolidated net income to net cash provided by operating activities:    
Depreciation expense 79,984,000 60,879,000
Amortization of in-place leases 44,314,000 10,759,000
Amortization of loan costs 4,342,000 3,614,000
Debt premium amortization (5,274,000) (441,000)
Equity in income of unconsolidated joint ventures (2,394,000) (2,502,000)
Distributions from unconsolidated joint ventures 1,399,000 1,633,000
Amortization of stock-related compensation 4,465,000 4,708,000
Revenue recognized from right-to-use contract upfront payments (5,000,000) (4,328,000)
Commission expense recognized related to right-to-use contracts 1,701,000 1,413,000
Accrued long term incentive plan compensation 642,000 816,000
Provision for uncollectible rents receivable 471,000 993,000
Changes in assets and liabilities:    
Notes receivable activity, net 346,000 (712,000)
Rent and other customer receivables, net (415,000) (1,245,000)
Inventory - Retail 702,000 (112,000)
Deferred commission expense (3,875,000) (4,908,000)
Escrow deposits and other assets 1,863,000 (18,172,000)
Accrued payroll and other operating expenses, net 12,940,000 20,827,000
Deferred revenue - upfront payments from right-to-use contracts 9,680,000 13,096,000
Deferred revenue - right-to-use annual payments 223,000 (327,000)
Rents received in advance and security deposits (2,675,000) (4,341,000)
Net cash provided by operating activities 188,883,000 120,291,000
Cash Flows From Investing Activities:    
Real estate acquisition 0 (513,475,000)
Notes receivable acquisition 0 (30,207,000)
Proceeds from short-term investments 0 52,266,000
Net repayments (borrowings) of notes receivable 4,330,000 (1,785,000)
Capital improvements (53,164,000) (41,396,000)
Net cash used in investing activities (48,834,000) (534,597,000)
Cash Flows From Financing Activities:    
Net proceeds from stock options and employee stock purchase plan 3,682,000 2,950,000
Net proceeds from issuance of Common Stock 0 344,049,000
Distributions to Common Stockholders, Common OP Unitholders, Perpetual Preferred OP Unitholders and Preferred Stockholders (68,014,000) (51,660,000)
Stock repurchase and Unit redemption (43,000) (216,000)
Principal payments and mortgage debt payoff (154,706,000) (68,762,000)
New mortgage notes payable financing proceeds 159,500,000 200,000,000
Term loan financing proceeds 0 200,000,000
Equity issuance costs (100,000) 0
Debt issuance costs (2,960,000) (11,918,000)
Net cash (used in) provided by financing activities (62,641,000) 614,443,000
Net increase in cash and cash equivalents 77,408,000 200,137,000
Cash and cash equivalents, beginning of period 70,460,000 12,659,000
Cash and cash equivalents, end of period 147,868,000 212,796,000
Supplemental Information:    
Cash paid during the period for interest 88,922,000 68,806,000
Non-cash activities (increase/(decrease)):    
Manufactured homes acquired with dealer financing 0 830,000
Dealer financing 0 830,000
Capital improvements - used homes acquired by repossessions 3,506,000 361,000
Net repayments of notes receivable - used homes acquired by repossessions (3,506,000) (361,000)
Building and other depreciable property - reclassification of rental homes (3,608,000) (2,435,000)
Escrow deposits and other assets - reclassification of rental homes 3,608,000 2,435,000
Series A Cumulative Redeemable Perpetual Preferred Stock 0 200,000,000
Perpetual Preferred OP Units conversion 0 (200,000,000)
Series A Cumulative Redeemable Perpetual Preferred Stock Exchange (136,144,000) 0
Series C Cumulative Redeemable Perpetual Preferred Stock Exchange 136,144,000 0
Acquisitions:    
Investment in real estate (6,262,000) 548,785,000
Common Stock issued 0 110,589,000
Series B Subordinated Non-Voting Cumulative Redeemable Preferred Stock Issued 0 84,234,000
Mortgage notes payable 0 348,754,000
Accrued interest payable 0 39,000
Rents and other customer payments received in advance and security deposits 0 3,972,000
Accrued payroll and other operating expenses 0 1,197,000
Noncash or Part Noncash Acquisition, Other Assets Acquired $ 6,774,000 $ 0