XML 27 R31.htm IDEA: XBRL DOCUMENT v3.3.0.814
Notes Payable, Unsecured Notes and Credit Facility (Details 2)
1 Months Ended 3 Months Ended 9 Months Ended
Jul. 31, 2015
USD ($)
Jun. 30, 2015
USD ($)
May. 31, 2015
USD ($)
Apr. 30, 2015
USD ($)
community
loan
Sep. 30, 2015
USD ($)
community
Sep. 30, 2014
USD ($)
Sep. 30, 2015
USD ($)
community
extension
Sep. 30, 2014
USD ($)
Mar. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Notes Payable, Unsecured Notes and Credit Facility                    
Number of operating apartment communities | community         255   255      
Gains (Losses) on Extinguishment of Debt         $ 18,987,000 $ 0 $ 26,736,000 $ (412,000)    
Debt Instrument, Interest Rate, Stated Percentage     3.45%              
Variable rate unsecured credit facility         0   0     $ 0
Mortgage notes payable                    
Notes Payable, Unsecured Notes and Credit Facility                    
Mortgage notes payable held by wholly owned subsidiaries guaranteed by the Company         234,500,000   234,500,000      
Unsecured Notes 3.45 Percent [Member]                    
Notes Payable, Unsecured Notes and Credit Facility                    
Principal amount of notes issued     $ 525,000,000              
Proceeds from Issuance of Debt     $ 520,653,000              
Variable Rate Unsecured Term Loan [Member]                    
Notes Payable, Unsecured Notes and Credit Facility                    
Additional amount with option to draw                 $ 50,000,000  
Principal amount of notes issued                 $ 300,000,000  
Notes payable maturing in 2015 | Mortgage notes payable                    
Notes Payable, Unsecured Notes and Credit Facility                    
Repayments of secured mortgages       $ 481,582,000            
Mortgage Loans on Real Estate, Number of Loans | loan       8            
Number of operating apartment communities | community       8            
Current interest rate (as a percent)       3.12%            
Gains (Losses) on Extinguishment of Debt       $ 8,724,000            
Notes Payable Maturities 2041 [Member] | Mortgage notes payable                    
Notes Payable, Unsecured Notes and Credit Facility                    
Current interest rate (as a percent)   7.50%                
Gains (Losses) on Extinguishment of Debt   $ (455,000)                
Repayments of Debt   $ 15,778,000                
Notes Payable Maturities 2027 [Member] | Mortgage notes payable                    
Notes Payable, Unsecured Notes and Credit Facility                    
Current interest rate (as a percent)   7.84%                
Gains (Losses) on Extinguishment of Debt   $ (263,000)                
Repayments of Debt   $ 7,805,000                
Notes payable maturing in 2019 | Mortgage notes payable                    
Notes Payable, Unsecured Notes and Credit Facility                    
Current interest rate (as a percent)   5.95%                
Gains (Losses) on Extinguishment of Debt   $ (259,000)                
Repayments of Debt   $ 74,531,000                
Notes Payable Maturities 2053 [Member] | Mortgage notes payable                    
Notes Payable, Unsecured Notes and Credit Facility                    
Repayments of secured mortgages $ 140,346,000                  
Current interest rate (as a percent) 5.56%                  
Gains (Losses) on Extinguishment of Debt $ 18,987,000                  
Prepayment Penalty 11,228,000                  
Debt Instrument, Unamortized Premium, Write-off $ 30,215,000                  
Variable rate unsecured credit facility                    
Notes Payable, Unsecured Notes and Credit Facility                    
Available borrowing capacity         1,300,000,000   $ 1,300,000,000      
Line of credit facility, extension period             1 year      
Number of extension options | extension             2      
Extension period under each option             6 months      
Extension fee             $ 1,950,000      
Period of borrowing rate assumed             1 month      
Annual facility fee             $ 1,950,000      
Outstanding balance of letters of credit         43,580,000   43,580,000     49,407,000
Variable rate unsecured credit facility         0   0     $ 0
Net carrying value of apartment communities and improved land parcels securing debt         $ 3,363,527,000   $ 3,363,527,000      
Fixed rate mortgage notes payable                    
Notes Payable, Unsecured Notes and Credit Facility                    
Weighted average interest rate, debt (as a percent)         4.70%   4.70%     4.50%
Variable rate mortgage notes payable, unsecured term loan and Credit Facility                    
Notes Payable, Unsecured Notes and Credit Facility                    
Weighted average interest rate, debt (as a percent)         1.70%   1.70%     1.80%
LIBOR | Variable Rate Unsecured Term Loan [Member] | Unsecured notes                    
Notes Payable, Unsecured Notes and Credit Facility                    
Debt instrument variable rate             LIBOR      
Debt instrument, basis spread on variable rate (as a percent)             1.45%      
LIBOR | Secured Mortgage                    
Notes Payable, Unsecured Notes and Credit Facility                    
Debt instrument variable rate             LIBOR      
LIBOR | Variable rate unsecured credit facility                    
Notes Payable, Unsecured Notes and Credit Facility                    
Current interest rate (as a percent)         1.14%   1.14%      
Debt instrument, basis spread on variable rate (as a percent)             0.95%