Investments in Partially Owned Entities (Tables)

12 Months Ended

Dec. 31, 2012

Investments in Partially Owned Entities (Tables) [Abstract]

Partially Owned Property Balance Sheet Schedule [Table Text Block]

	Consolidated								Unconsolidated
	Development Projects
	Held for and/or Under Development (4)		Other			Total			Institutional Joint Ventures (5)
Total projects (1)	—		19			19			—
Total apartment units (1)	—		3,475			3,475			—
Balance sheet information at 12/31/12 (at 100%):
ASSETS
Investment in real estate	$	161,820	$	453,235		$	615,055		$	171,041
Accumulated depreciation	—		(159,651		)	(159,651		)	—
Investment in real estate, net	161,820		293,584			455,404			171,041
Cash and cash equivalents	3,884		17,221			21,105			214
Deposits – restricted	43,609		5			43,614			—
Deferred financing costs, net	—		1,019			1,019			6
Other assets	5,839		171			6,010			22
Total assets	$	215,152	$	312,000		$	527,152		$	171,283
LIABILITIES AND EQUITY/CAPITAL
Mortgage notes payable	$	—	$	200,337		$	200,337		$	76,634
Accounts payable & accrued expenses	686		693			1,379			6,550
Accrued interest payable	—		782			782			342
Other liabilities	1,238		1,096			2,334			108
Security deposits	—		1,483			1,483			3
Total liabilities	1,924		204,391			206,315			83,637
Noncontrolling Interests – Partially Owned Properties	85,006		(7,318		)	77,688			70,428
Company equity/General and Limited Partners' Capital	128,222		114,927			243,149			17,218
Total equity/capital	213,228		107,609			320,837			87,646
Total liabilities and equity/capital	$	215,152	$	312,000		$	527,152		$	171,283
Debt – Secured (2):
Company/Operating Partnership Ownership (3)	$	—	$	159,068		$	159,068		$	15,327
Noncontrolling Ownership	—		41,269			41,269			61,307
Total (at 100%)	$	—	$	200,337		$	200,337		$	76,634

Partially Owned Property Income Statement Schedule [Table Text Block]

	Consolidated									Unconsolidated
	Development Projects
	Held for and/or Under Development (4)			Other			Total			Institutional Joint Ventures (5)
Operating information for the year ended 12/31/12 (at 100%):
Operating revenue	$	—		$	62,405		$	62,405		$	7
Operating expenses	170			19,480			19,650			244
Net operating (loss) income	(170		)	42,925			42,755			(237		)
Depreciation	—			15,346			15,346			—
General and administrative/other	213			157			370			—
Operating (loss) income	(383		)	27,422			27,039			(237		)
Interest and other income	2			100			102			—
Other expenses	(264		)	—			(264		)	—
Interest:
Expense incurred, net	—			(9,386		)	(9,386		)	—
Amortization of deferred financing costs	—			(160		)	(160		)	—
(Loss) income before income and other taxes and net     gain on sales of discontinued operations	(645		)	17,976			17,331			(237		)
Income and other tax (expense) benefit	(25		)	(75		)	(100		)	—
Net gain on sales of discontinued operations	15			—			15			—
Net (loss) income	$	(655	)	$	17,901		$	17,246		$	(237	)

(1) Project and apartment unit counts exclude all uncompleted development projects until those projects are substantially completed.

(2) All debt is non-recourse to the Company.

(3) Represents the Company’s/Operating Partnership's current equity ownership interest.

(4) Includes 400 Park Avenue South in New York City which the Company is jointly developing with Toll Brothers.

(5) These development projects (Nexus Sawgrass and Domain) are owned 20% by the Company and 80% by an institutional partner in two separate unconsolidated joint ventures. Total project costs are approximately $232.8 million and construction will be predominantly funded with two separate long-term, non-recourse secured loans from the partner. The Company is responsible for constructing the projects and has given certain construction cost overrun guarantees but currently has no further funding obligations. Nexus Sawgrass has a maximum debt commitment of $48.7 million and a current unconsolidated outstanding balance of $29.8 million; the loan bears interest at 5.60% and matures January 1, 2021. Domain has a maximum debt commitment of $98.6 million and a current unconsolidated outstanding balance of $46.9 million; the loan bears interest at 5.75% and matures January 1, 2022.