Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Real estate assets
Land	$ 248,321	$ 298,441
Buildings and improvements	1,324,579	1,370,560
Furniture and fixtures	38,390	39,725
Construction in progress	70,248	42,793
Gross real estate	1,681,538	1,751,519
Less: Accumulated depreciation	(382,054)	(386,841)
Net real estate owned	1,299,484	1,364,678
Investment in unconsolidated entities	39,836	9,321
Total net real estate	1,339,320	1,373,999
Cash and cash equivalents	8,884	4,586
Restricted cash	23,364	3,465
Accounts receivable, net
Rents	1,066	1,230
Other	3,411	1,258
Other assets, net	31,337	37,959
Total assets	1,407,382	1,422,497
LIABILITIES AND EQUITY
Mortgage notes payable	278,792	279,474
Unsecured notes	250,000	250,000
Unsecured revolving credit facility	36,000	133,500
Unsecured term loan	150,000	150,000
Total debt	714,792	812,974
Accounts payable and other liabilities	42,512	42,882
Dividends payable	11,495	12,178
Resident security deposits	3,860	4,112
Accrued interest	5,268	5,551
Total liabilities	777,927	877,697
Equity
Common shares, without par value; $.10 stated value; 91,000,000 authorized; 57,704,675 issued and 57,640,475 outstanding at June 30, 2014 and 57,595,479 issued and 57,476,192 outstanding at December 31, 2013, respectively	5,770	5,760
Paid-in capital	756,583	754,582
Accumulated distributions in excess of accumulated net income	(130,758)	(213,275)
Accumulated other comprehensive loss	(1,448)	(702)
Less: Treasury shares, at cost, 64,200 and 119,287 shares at June 30, 2014 and December 31, 2013, respectively	(1,042)	(1,915)
Total shareholders' equity attributable to AERC	629,105	544,450
Noncontrolling interest	350	350
Total equity	629,455	544,800
Total liabilities and equity	$ 1,407,382	$ 1,422,497