Subsequent Events	6 Months Ended
Jun. 30, 2011
Subsequent Events	Note 14 – Subsequent Events On July 1, 2011, the Company closed on 35 of the Acquisition Properties and certain Home Related Assets associated with such 35 Acquisition Properties for a purchase price of approximately $452.0 million. The Company funded the purchase price of this closing with (i) the issuance of 282,759 shares of its common stock, to the seller with an aggregate stated value of $16.4 million, (ii) the issuance of 286,207 shares of Series B Preferred Stock to the seller with an aggregate stated value of $16.6 million and (iii) approximately $419.0 million in cash. The cash was obtained from the proceeds of the Term Loan (as discussed further below) and the net proceeds of the June 2011 common stock offering, $275 million of which were placed into an acquisition escrow deposit on July 1, 2011. On August 1, 2011, the Company closed on 16 of the Acquisition Properties and certain Home Related Assets associated with such 35 Acquisition Properties for a purchase price of approximately $436.0 million. The Company funded the purchase price of this closing with (i) the issuance of 1,379,310 shares of its common stock, to the seller with an aggregate stated value of $80.0 million, (ii) the assumption of approximately $226.0 million of mortgage debt secured by 11 Acquisition Properties and (iii) approximately $130.0 million in cash. The cash was obtained from the net proceeds of the June 2011 common stock offering and borrowing on the Company’s LOC. On July 1, 2011, the Company closed on a Term Loan that matures on June 30, 2017 and has a one-year extension option, an interest rate of LIBOR plus 1.85% to 2.80% per annum and, subject to certain conditions, may be prepaid at any time without premium or penalty after July 1, 2014. Prior to July 1, 2014, a prepayment penalty of 2% of the amount prepaid would be owed. The spread over LIBOR is variable based on leverage throughout the loan. The Term Loan contains an arrangement fee of approximately $0.5 million, an upfront fee of approximately $1.3 million and an annual administrative agency fee of $20,000 as well as customary representations, warranties and negative and affirmative covenants and provides for acceleration of principal and payment of all other amounts payable thereunder upon the occurrence of certain events of default. In connection with the Term Loan, the Company also entered into a three-year LIBOR Swap Agreement (the “Swap”) allowing the Company to trade its variable interest rate for a fixed interest rate on the Term Loan. The Swap fixes the underlying LIBOR rate on the Term Loan at 1.11% per annum for the first three years and based on anticipated leverage at the completion of the Acquisition, the Company’s spread over LIBOR is expected to be 2.15% resulting in an initial estimated all-in interest rate of 3.26% per annum. The proceeds were used for the July 1, 2011 Acquisition. (See Note 8 in the Notes to Consolidated Financial Statements contained in this Form 10-Q for further information on the accounting of the Swap.)

Note 14 – Subsequent Events

On July 1, 2011, the Company closed on 35 of the Acquisition Properties and certain Home Related Assets associated with such 35 Acquisition Properties for a purchase price of approximately $452.0 million. The Company funded the purchase price of this closing with (i) the issuance of 282,759 shares of its common stock, to the seller with an aggregate stated value of $16.4 million, (ii) the issuance of 286,207 shares of Series B Preferred Stock to the seller with an aggregate stated value of $16.6 million and (iii) approximately $419.0 million in cash. The cash was obtained from the proceeds of the Term Loan (as discussed further below) and the net proceeds of the June 2011 common stock offering, $275 million of which were placed into an acquisition escrow deposit on July 1, 2011. On August 1, 2011, the Company closed on 16 of the Acquisition Properties and certain Home Related Assets associated with such 35 Acquisition Properties for a purchase price of approximately $436.0 million. The Company funded the purchase price of this closing with (i) the issuance of 1,379,310 shares of its common stock, to the seller with an aggregate stated value of $80.0 million, (ii) the assumption of approximately $226.0 million of mortgage debt secured by 11 Acquisition Properties and (iii) approximately $130.0 million in cash. The cash was obtained from the net proceeds of the June 2011 common stock offering and borrowing on the Company’s LOC.

On July 1, 2011, the Company closed on a Term Loan that matures on June 30, 2017 and has a one-year extension option, an interest rate of LIBOR plus 1.85% to 2.80% per annum and, subject to certain conditions, may be prepaid at any time without premium or penalty after July 1, 2014. Prior to July 1, 2014, a prepayment penalty of 2% of the amount prepaid would be owed. The spread over LIBOR is variable based on leverage throughout the loan. The Term Loan contains an arrangement fee of approximately $0.5 million, an upfront fee of approximately $1.3 million and an annual administrative agency fee of $20,000 as well as customary representations, warranties and negative and affirmative covenants and provides for acceleration of principal and payment of all other amounts payable thereunder upon the occurrence of certain events of default. In connection with the Term Loan, the Company also entered into a three-year LIBOR Swap Agreement (the “Swap”) allowing the Company to trade its variable interest rate for a fixed interest rate on the Term Loan. The Swap fixes the underlying LIBOR rate on the Term Loan at 1.11% per annum for the first three years and based on anticipated leverage at the completion of the Acquisition, the Company’s spread over LIBOR is expected to be 2.15% resulting in an initial estimated all-in interest rate of 3.26% per annum. The proceeds were used for the July 1, 2011 Acquisition. (See Note 8 in the Notes to Consolidated Financial Statements contained in this Form 10-Q for further information on the accounting of the Swap.)