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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Net income $ 8,271 $ 6,393
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain from land disposition (635) (65)
Gain on valuation of derivative instruments 1 (3)
Stock compensation expense 564 345
Depreciation and amortization 24,851 19,573
Amortization of deferred financing costs 726 437
Distributions from affiliate (400) (750)
Change in notes receivable from financed sales of inventory homes, net of repayments (5,111) (2,078)
Change in inventory, other assets and other receivables, net 1,855 4,316
Change in accounts payable and other liabilities (2,489) (7,116)
NET CASH PROVIDED BY OPERATING ACTIVITIES 27,633 21,052
INVESTING ACTIVITIES:    
Investment in properties (38,109) (28,966)
Acquisitions (55,618) (24,482)
Payments to Acquire Notes Receivable 49,441 0
Proceeds related to affiliate dividend distribution 400 750
Proceeds related to disposition of land 0 88
Proceeds related to disposition of assets and depreciated homes, net 593 543
Increase in notes receivable, net (164) 327
NET CASH USED IN INVESTING ACTIVITIES (142,339) (51,740)
FINANCING ACTIVITIES:    
Issuance and associated costs of common stock, OP units, and preferred OP units, net 262,134 157,461
Net proceeds from stock option exercise 100 149
Distributions to stockholders, OP unit holders, and preferred OP unit holders (21,712) (15,626)
Borrowings on lines of credit 149,631 25,375
Payments on lines of credit (179,020) (148,425)
Proceeds from issuance of other debt 6,973 33,959
Payments on other debt (70,111) (11,549)
Payments for deferred financing costs (1,752) (538)
NET CASH PROVIDED BY FOR FINANCING ACTIVITIES 146,243 40,806
Net increase (decrease) in cash and cash equivalents 31,537 10,118
Cash and cash equivalents, beginning of period 29,508 5,857
Cash and cash equivalents, end of period 61,045 15,975
SUPPLEMENTAL INFORMATION:    
Cash paid for interest 14,674 15,010
Cash paid for interest on mandatorily redeemable debt 809 841
Cash paid for state income taxes 0 90
Noncash investing and financing activities:    
Unrealized gain on interest rate swaps 92 256
Reduction in secured borrowing balance 3,926 3,030
Change in dividends declared and outstanding 4,335 2,934
Noncash investing and financing activities at the date of acquisition:    
Acquisitions - A-1 preferred OP units issued 3,463 0
Other noncash consideration acquisitions $ 49,441 $ 0