Real Estate Activity (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

During the six months ended June 30, 2012, the Company acquired the following multifamily apartment communities:



			Effective
Acquisition	Location	Units	Acquisition Date	Purchase Price
				(in millions)
Colonial Grand at Brier Falls	Raleigh, NC	350	January 10, 2012	$	45.0
Colonial Grand at Fairview	Dallas, TX	256	May 30, 2012	$	29.8

Business Acquisition, Pro Forma Information [Table Text Block]



	Pro Forma (Unaudited)
	Three Months Ended					Six Months Ended
	June 30,					June 30,
($ in thousands, except per share data)	2012		2011			2012		2011
Total revenue	$	99,760	$	93,790		$	197,462	$	187,305
Net income (loss) available to common shareholders	$	16,316	$	(6,765	)	$	10,236	$	(19,024	)
Net income (loss) per common share — dilutive	$	0.19	$	(0.08	)	$	0.12	$	(0.23	)

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

Below is a summary of the operations of the properties classified as discontinued operations during the three and six months ended June 30, 2012 and 2011:



	Three Months Ended						Six Months Ended
	June 30,						June 30,
($ in thousands)	2012			2011			2012			2011
Property revenues:
Minimum rent	$	3,726		$	6,957		$	7,323		$	13,545
Tenant recoveries	749			570			1,436			1,261
Other revenue	404			610			410			1,957
Total revenues	4,879			8,137			9,169			16,763

Property expenses:
Property operating and administrative expense	1,342			3,072			2,649			6,119
Depreciation	875			2,932			2,706			6,248
Amortization	143			305			405			704
Impairment	271			—			271			—
Total operating expenses	2,631			6,309			6,031			13,071

Interest income (expense), net	2			(311		)	39			(587		)
Debt cost amortization	—			(7		)	—			(13		)
Income from discontinued operations before net loss on disposition of discontinued operations	2,250			1,510			3,177			3,092
Net loss on disposition of discontinued operations	(12		)	—			(14		)	—
Noncontrolling interest in CRLP from discontinued operations	(168		)	(119		)	(239		)	(251		)

Income from discontinued operations attributable to parent company	$	2,070		$	1,391		$	2,924		$	2,841

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References+ Details

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Appendix F

-Paragraph F4

-Subparagraph e

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1392-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 51

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1486-128463

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 52

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 68

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details