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Notes Payable (Tables)
 3 Months Ended
Mar. 31, 2012
Notes To Financial Statements [Abstract]  
Debt Structure [Table Text Block]
 
Borrowed
Balance
 
Effective
Rate
 
Contract
Maturity
Fixed Rate Secured Debt
 
 
 
 
 
Individual property mortgages
$
352,111

 
5.0
%
 
7/6/2020
FNMA conventional credit facilities
50,000

 
4.7
%
 
3/31/2017
Credit facility balances with:
 

 
 

 
 
LIBOR-based interest rate swaps
484,000

 
5.3
%
 
10/30/2013
SIFMA-based interest rate swaps
17,800

 
4.4
%
 
10/15/2012
Total fixed rate secured debt
$
903,911

 
5.1
%
 
8/7/2016
Variable Rate Secured Debt (1)
 

 
 

 
 
FNMA conventional credit facilities
$
296,983

 
0.7
%
 
10/1/2015
FNMA tax-free credit facilities
72,715

 
1.0
%
 
7/23/2031
Freddie Mac credit facilities
64,247

 
0.7
%
 
7/1/2014
Freddie Mac mortgage
15,200

 
3.6
%
 
12/10/2015
Total variable rate secured debt
$
449,145

 
0.8
%
 
2/18/2018
Total Secured Debt
$
1,353,056

 
3.7
%
 
2/9/2017
 
 
 
 
 
 
Unsecured Debt
 

 
 

 
 
Variable rate credit facility
$
2,000

 
2.7
%
 
11/1/2015
Term loan fixed with swaps (2)
50,000

 
1.9
%
 
3/1/2017
Fixed rate senior private placement bonds
135,000

 
5.1
%
 
8/23/2020
Total Unsecured Debt
$
187,000

 
4.3
%
 
8/30/2019
 
 
 
 
 
 
Total Outstanding Debt
$
1,540,056

 
3.8
%
 
6/2/2017

(1) Includes capped balances.
(2) Balance is fixed at 2.7% by interest rate swaps that do not become effective until June 1, 2012. The unswapped rate has been used in this table.