Investments in Real Estate Entities (Tables)

6 Months Ended

Jun. 30, 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):

	6/30/2015		12/31/2014
	(unaudited)		(unaudited)
Assets:
Real estate, net	$	1,513,850	$	1,617,627
Other assets	60,793		72,290
Total assets	$	1,574,643	$	1,689,917
Liabilities and partners’ capital:
Mortgage notes payable and credit facility	$	964,246	$	980,128
Other liabilities	21,232		24,884
Partners’ capital	589,165		684,905
Total liabilities and partners’ capital	$	1,574,643	$	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						For the six months ended
	6/30/2015			6/30/2014			6/30/2015			6/30/2014
	(unaudited)						(unaudited)
Rental and other income	$	43,395		$	52,270		$	88,650		$	104,646
Operating and other expenses	(17,375		)	(20,483		)	(34,712		)	(41,691		)
Gain on sale of communities	—			5,682			32,490			5,682
Interest expense, net	(10,334		)	(13,523		)	(20,811		)	(27,413		)
Depreciation expense	(11,942		)	(13,863		)	(23,845		)	(28,280		)
Net income	$	3,744		$	10,083		$	41,772		$	12,944