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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Net income $ 11,545 $ 8,872
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain from land disposition (1,713) (87)
Gain on valuation of derivative instruments 0 (4)
Stock compensation expense 1,170 688
Depreciation and amortization 49,425 40,010
Amortization of deferred financing costs 1,916 813
Distributions from affiliate (850) (2,650)
Change in notes receivable from financed sales of inventory homes, net of repayments (2,738) (4,435)
Change in inventory, other assets and other receivables, net 1,469 4,729
Change in accounts payable and other liabilities 216 (4,452)
NET CASH PROVIDED BY OPERATING ACTIVITIES 60,440 43,484
INVESTING ACTIVITIES:    
Investment in properties (89,922) (60,930)
Acquisitions (82,718) (24,482)
Payments to Acquire Notes Receivable 49,441 0
Proceeds related to affiliate dividend distribution 850 2,650
Proceeds related to disposition of land 0 172
Proceeds related to disposition of assets and depreciated homes, net 697 1,211
Increase in notes receivable, net (144) (5,736)
NET CASH USED IN INVESTING ACTIVITIES (220,678) (87,115)
FINANCING ACTIVITIES:    
Issuance and associated costs of common stock, OP units and preferred OP units, net 261,967 157,343
Net proceeds from stock option exercise 149 149
Distributions to stockholders, OP unit holders, and preferred OP unit holders (47,843) (34,184)
Borrowings on lines of credit 189,392 71,635
Payments on lines of credit (200,887) (176,038)
Proceeds from issuance of other debt 15,522 54,567
Payments on other debt (78,363) (30,521)
Payments for deferred financing costs (2,719) (678)
NET CASH PROVIDED BY FOR FINANCING ACTIVITIES 137,218 42,273
Net increase (decrease) in cash and cash equivalents (23,020) (1,358)
Cash and cash equivalents, beginning of period 29,508 5,857
Cash and cash equivalents, end of period 6,488 4,499
SUPPLEMENTAL INFORMATION:    
Cash paid for interest 29,780 28,519
Cash paid for interest on mandatorily redeemable debt 1,621 1,677
Cash paid for state income taxes 219 320
Noncash investing and financing activities:    
Unrealized gain on interest rate swaps 177 599
Reduction in secured borrowing balance 7,299 6,081
Change in dividends declared and outstanding 4,498 2,935
Noncash investing and financing activities at the date of acquisition:    
Acquisitions - A-1 preferred OP units issued 3,463 0
Acquisitions - release of note receivable and accrued interest $ 49,441 $ 0