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Subsequent Events
3 Months Ended
Mar. 31, 2012
Notes To Financial Statements [Abstract]  
Subsequent Events
Subsequent Events

Real Estate Acquisitions

On April 2, 2012, we closed on the purchase of Adalay Bay, a 240 unit community located in Chesapeake, Virginia.

On April 5, 2012, we closed on the purchase of Legacy at Western Oaks, a 479 unit community located in Austin, Texas. This property was purchased directly from one of our joint ventures, Mid-America Multifamily Fund II, LLC, and resulted in a gain.