Investments in Real Estate Entities (Tables)

3 Months Ended

Mar. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Combined summary of the financial position of the entities accounted for using the equity method

The following is a combined summary of the financial position of the entities accounted for using the equity method as of the dates presented, excluding amounts associated with the Residual JV (dollars in thousands):

	3/31/2015		12/31/2014
	(unaudited)		(unaudited)
Assets:
Real estate, net	$	1,524,554	$	1,617,627
Other assets	76,491		72,290
Total assets	$	1,601,045	$	1,689,917
Liabilities and partners’ capital:
Mortgage notes payable and credit facility	$	968,524	$	980,128
Other liabilities	25,510		24,884
Partners’ capital	607,011		684,905
Total liabilities and partners’ capital	$	1,601,045	$	1,689,917

Combined summary of the operating results of the entities accounted for using the equity method

The following is a combined summary of the operating results of the entities accounted for using the equity method for the periods presented, excluding amounts associated with the Residual JV (dollars in thousands):

	For the three months ended
	3/31/2015			3/31/2014
	(unaudited)
Rental and other income	$	45,255		$	52,376
Operating and other expenses	(17,337		)	(21,208		)
Gain on sale of communities	32,490			—
Interest expense, net	(10,477		)	(13,890		)
Depreciation expense	(11,902		)	(14,417		)
Net income	$	38,029		$	2,861