Investments in Real Estate Entities (Tables)

9 Months Ended

Sep. 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):

	9/30/2015		12/31/2014
	(unaudited)		(unaudited)
Assets:
Real estate, net	$	1,390,002	$	1,617,627
Other assets	180,919		72,290
Total assets	$	1,570,921	$	1,689,917
Liabilities and partners’ capital:
Mortgage notes payable and credit facility	$	902,242	$	980,128
Other liabilities	23,891		24,884
Partners’ capital	644,788		684,905
Total liabilities and partners’ capital	$	1,570,921	$	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 nine months ended
	9/30/2015			9/30/2014			9/30/2015			9/30/2014
	(unaudited)						(unaudited)
Rental and other income	$	43,868		$	49,388		$	132,518		$	154,034
Operating and other expenses	(17,910		)	(19,989		)	(52,622		)	(61,680		)
Gain on sale of communities	66,410			327,539			98,899			333,221
Interest expense, net	(14,883		)	(22,922		)	(35,694		)	(50,335		)
Depreciation expense	(11,213		)	(11,934		)	(35,058		)	(40,214		)
Net income	$	66,272		$	322,082		$	108,043		$	335,026