Investments in Partially Owned Entities (Tables)

3 Months Ended

Mar. 31, 2013

Investments in Partially Owned Entities (Tables) [Abstract]

Partially Owned Property Balance Sheet Schedule [Table Text Block]

	Consolidated								Unconsolidated
	Development Projects								Development Projects
	Held for and/or Under Development		Operating			Total			Held for and/or Under Development		Operating			Total
Total projects (1)	—		20			20			—		1			1
Total apartment units (1)	—		3,917			3,917			—		336			336
Balance sheet information at 3/31/13 (at 100%):
ASSETS
Investment in real estate	$	219,252	$	644,208		$	863,460		$	280,326	$	55,017		$	335,343
Accumulated depreciation	—		(160,227		)	(160,227		)	—		(540		)	(540		)
Investment in real estate, net	219,252		483,981			703,233			280,326		54,477			334,803
Cash and cash equivalents	4,022		12,437			16,459			2,607		1,589			4,196
Investments in unconsolidated entities	—		56,253			56,253			—		—			—
Deposits – restricted	43,616		24,582			68,198			—		—			—
Deferred financing costs, net	—		2,632			2,632			57		—			57
Other assets	5,781		26,700			32,481			346		1,336			1,682
Total assets	$	272,671	$	606,585		$	879,256		$	283,336	$	57,402		$	340,738
LIABILITIES AND EQUITY/CAPITAL
Mortgage notes payable	$	—	$	343,218		$	343,218		$	117,688	$	30,550		$	148,238
Accounts payable & accrued expenses	1,788		2,201			3,989			10,127		—			10,127
Accrued interest payable	—		1,195			1,195			460		—			460
Other liabilities	1,224		1,168			2,392			242		1,681			1,923
Security deposits	—		1,765			1,765			47		—			47
Total liabilities	3,012		349,547			352,559			128,564		32,231			160,795
Noncontrolling Interests - Partially Owned Properties/Partners' equity	89,888		16,042			105,930			114,909		20,137			135,046
Company equity/General and Limited Partners' Capital	179,771		240,996			420,767			39,863		5,034			44,897
Total equity/capital	269,659		257,038			526,697			154,772		25,171			179,943
Total liabilities and equity/capital	$	272,671	$	606,585		$	879,256		$	283,336	$	57,402		$	340,738
Debt – Secured (2):
Company/Operating Partnership Ownership (3)	$	—	$	266,228		$	266,228		$	39,120	$	6,110		$	45,230
Noncontrolling Ownership	—		76,990			76,990			78,568		24,440			103,008
Total (at 100%)	$	—	$	343,218		$	343,218		$	117,688	$	30,550		$	148,238

Partially Owned Property Income Statement Schedule [Table Text Block]

	Consolidated									Unconsolidated
	Development Projects									Development Projects
	Held for and/or Under Development									Held for and/or Under Development			Operating
				Operating			Total									Total
Operating information for the quarter ended 3/31/13 (at 100%):
Operating revenue	$	—		$	17,485		$	17,485		$	219		$	453		$	672
Operating expenses	52			5,602			5,654			256			185			441
Net operating (loss) income	(52		)	11,883			11,831			(37		)	268			231
Depreciation	—			6,094			6,094			—			540			540
General and administrative/other	122			13			135			—			—			—
Operating (loss) income	(174		)	5,776			5,602			(37		)	(272		)	(309		)
Interest and other income	1			3			4			—			—			—
Other expenses	(86		)	—			(86		)	—			(49		)	(49		)
Interest:
Expense incurred, net	—			(2,854		)	(2,854		)	(16		)	(87		)	(103		)
Amortization of deferred financing costs	—			(50		)	(50		)	—			—			—
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities and net gain on sales of discontinued operations	(259		)	2,875			2,616			(53		)	(408		)	(461		)
Income and other tax (expense) benefit	(11		)	(39		)	(50		)	—			—			—
(Loss) from investments in unconsolidated entities	—			(97		)	(97		)	—			—			—
Net gain on sales of discontinued operations	—			2,807			2,807			—			—			—
Net (loss) income	$	(270	)	$	5,546		$	5,276		$	(53	)	$	(408	)	$	(461	)

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

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

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