Notes Payable, Unsecured Notes and Credit Facility (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Summary of company's mortgage notes payable, unsecured notes, term loan and credit facility

The following amounts and discussion do not include the mortgage notes related to the communities classified as held for sale, if any, as of December 31, 2014 and December 31, 2013, as shown in the Consolidated Balance Sheets (dollars in thousands) (see Note 7, "Real Estate Disposition Activities").

	12/31/14		12/31/13
Fixed rate unsecured notes (1)	$	2,750,000	$	2,600,000
Term Loan	250,000		—
Fixed rate mortgage notes payable—conventional and tax-exempt (2)	2,400,677		2,407,962
Variable rate mortgage notes payable—conventional and tax-exempt	1,047,461		1,011,609
Total notes payable and unsecured notes	6,448,138		6,019,571
Credit Facility	—		—
Total mortgage notes payable, unsecured notes and Credit Facility	$	6,448,138	$	6,019,571

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(1) Balances at December 31, 2014 and December 31, 2013 exclude $6,735 and $5,291, respectively, of debt discount as reflected in unsecured notes, net on the Company's Consolidated Balance Sheets.

(2) Balances at December 31, 2014 and December 31, 2013 exclude $84,449 and $120,071, respectively, of debt premium as reflected in mortgage notes payable on the Company's Consolidated Balance Sheets.

Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding

Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding at December 31, 2014 are as follows (dollars in thousands):

Year	Secured notes payments		Secured notes maturities		Unsecured notes maturities		Stated interest rate of unsecured notes
2015	$	17,873	$	586,705	$	—	—	%
2016	19,037		16,255		250,000		5.750	%
2017	20,255		710,291		250,000		5.700	%
2018	19,649		76,937		—		—	%
2019	7,141		658,447		—		—	%
2020	6,209		50,824		250,000		6.100	%
					400,000		3.625	%
2021	5,984		27,844		250,000		3.950	%
					250,000		LIBOR + 1.450%
2022	6,351		—		450,000		2.950	%
2023	6,742		—		350,000		4.200	%
					250,000		2.850	%
2024	4,858		—		300,000		3.500	%
Thereafter	—		1,206,736		—		—	%
	$	114,099	$	3,334,039	$	3,000,000