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Subsequent Events
3 Months Ended
Mar. 31, 2013
Notes To Financial Statements [Abstract]  
Subsequent Events
Subsequent Events

Real Estate Acquisitions

On May 1, 2013, we closed on the purchase of the 316-unit Greenwood Forest apartment community located in Greenwood Forest (Houston), Texas. This property was previously a part of Fund I.

Financings

On April 23, 2013, we entered into three LIBOR-based forward swaps intended to hedge the interest rate on planned future financings with a total notional amount of $150 million.