REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Initial Cost
Land and improvements	$ 4,125,552
Building / Construction in Progress & Improvements	12,268,898
Costs Subsequent to Acquisition / Construction	2,873,649
Total Cost
Land	4,125,552
Building / Construction in Progress & Improvements	15,142,547
Total	19,268,099	$ 17,849,316	$ 16,800,321	$ 10,071,342
Accumulated Depreciation	3,325,790	2,913,576	$ 2,516,112	$ 2,056,222
Total Cost, Net of Accumulated Depreciation	15,942,309	14,935,740
Encumbrances	6,481,291
SEC Schedule III, Real Estate, Federal Income Tax Basis	18,958
Avalon Thousand Oaks Plaza
Initial Cost
Land and improvements	12,810
Building / Construction in Progress & Improvements	22,581
Costs Subsequent to Acquisition / Construction	1,873
Total Cost
Land	12,810
Building / Construction in Progress & Improvements	24,454
Total	37,264
Accumulated Depreciation	4,172
Total Cost, Net of Accumulated Depreciation	33,092	33,972
Established [Member]
Initial Cost
Land and improvements	2,711,536
Building / Construction in Progress & Improvements	8,768,161
Costs Subsequent to Acquisition / Construction	911,889
Total Cost
Land	2,711,536
Building / Construction in Progress & Improvements	9,680,050
Total	12,391,586
Accumulated Depreciation	2,715,827
Total Cost, Net of Accumulated Depreciation	9,675,759	9,945,347
Encumbrances	2,404,461
Redevelopment Communities [Member]
Initial Cost
Land and improvements	151,116
Building / Construction in Progress & Improvements	474,641
Costs Subsequent to Acquisition / Construction	127,442
Total Cost
Land	151,116
Building / Construction in Progress & Improvements	602,083
Total	753,199
Accumulated Depreciation	186,389
Total Cost, Net of Accumulated Depreciation	566,810	526,903
Encumbrances	76,009
New England
Initial Cost
Land and improvements	232,227
Building / Construction in Progress & Improvements	1,063,492
Costs Subsequent to Acquisition / Construction	165,027
Total Cost
Land	232,227
Building / Construction in Progress & Improvements	1,228,519
Total	1,460,746
Accumulated Depreciation	415,211
Total Cost, Net of Accumulated Depreciation	1,045,535	1,060,952
Encumbrances	150,404
New Jersey [Member]
Initial Cost
Land and improvements	87,355
Building / Construction in Progress & Improvements	466,309
Costs Subsequent to Acquisition / Construction	56,566
Total Cost
Land	87,355
Building / Construction in Progress & Improvements	522,875
Total	610,230
Accumulated Depreciation	187,632
Total Cost, Net of Accumulated Depreciation	422,598	437,621
Encumbrances	71,345
Mid-Atlantic
Initial Cost
Land and improvements	510,531
Building / Construction in Progress & Improvements	1,533,740
Costs Subsequent to Acquisition / Construction	133,552
Total Cost
Land	510,531
Building / Construction in Progress & Improvements	1,667,292
Total	2,177,823
Accumulated Depreciation	376,943
Total Cost, Net of Accumulated Depreciation	1,800,880	1,850,140
Encumbrances	351,955
Pacific Northwest
Initial Cost
Land and improvements	117,549
Building / Construction in Progress & Improvements	569,655
Costs Subsequent to Acquisition / Construction	33,836
Total Cost
Land	117,549
Building / Construction in Progress & Improvements	603,491
Total	721,040
Accumulated Depreciation	169,522
Total Cost, Net of Accumulated Depreciation	551,518	571,233
Encumbrances	86,872
Northern California
Initial Cost
Land and improvements	545,406
Building / Construction in Progress & Improvements	1,651,484
Costs Subsequent to Acquisition / Construction	217,294
Total Cost
Land	545,406
Building / Construction in Progress & Improvements	1,868,778
Total	2,414,184
Accumulated Depreciation	599,188
Total Cost, Net of Accumulated Depreciation	1,814,996	1,870,640
Encumbrances	578,039
Southern California
Initial Cost
Land and improvements	434,990
Building / Construction in Progress & Improvements	1,645,046
Costs Subsequent to Acquisition / Construction	248,504
Total Cost
Land	434,990
Building / Construction in Progress & Improvements	1,893,550
Total	2,328,540
Accumulated Depreciation	320,010
Total Cost, Net of Accumulated Depreciation	2,008,530	2,058,471
Encumbrances	125,821
Current Communities
Initial Cost
Land and improvements	3,537,870
Building / Construction in Progress & Improvements	12,067,407
Costs Subsequent to Acquisition / Construction	1,349,015
Total Cost
Land	3,537,870
Building / Construction in Progress & Improvements	13,416,422
Total	16,954,292
Accumulated Depreciation	3,270,732
Total Cost, Net of Accumulated Depreciation	13,683,560	13,812,553
Encumbrances	2,606,291
Current Communities | Avalon at Lexington
Initial Cost
Land and improvements	2,124
Building / Construction in Progress & Improvements	12,546
Costs Subsequent to Acquisition / Construction	9,368
Total Cost
Land	2,124
Building / Construction in Progress & Improvements	21,914
Total	24,038
Accumulated Depreciation	12,335
Total Cost, Net of Accumulated Depreciation	11,703	12,438
Current Communities | Avalon Oaks
Initial Cost
Land and improvements	2,129
Building / Construction in Progress & Improvements	18,302
Costs Subsequent to Acquisition / Construction	4,265
Total Cost
Land	2,129
Building / Construction in Progress & Improvements	22,567
Total	24,696
Accumulated Depreciation	11,925
Total Cost, Net of Accumulated Depreciation	12,771	11,749
Current Communities | Eaves Quincy
Initial Cost
Land and improvements	1,743
Building / Construction in Progress & Improvements	14,662
Costs Subsequent to Acquisition / Construction	9,694
Total Cost
Land	1,743
Building / Construction in Progress & Improvements	24,356
Total	26,099
Accumulated Depreciation	12,650
Total Cost, Net of Accumulated Depreciation	13,449	13,883
Current Communities | Avalon Essex
Initial Cost
Land and improvements	5,184
Building / Construction in Progress & Improvements	16,258
Costs Subsequent to Acquisition / Construction	2,073
Total Cost
Land	5,184
Building / Construction in Progress & Improvements	18,331
Total	23,515
Accumulated Depreciation	10,039
Total Cost, Net of Accumulated Depreciation	13,476	14,036
Current Communities | Avalon Oaks West
Initial Cost
Land and improvements	3,318
Building / Construction in Progress & Improvements	13,333
Costs Subsequent to Acquisition / Construction	951
Total Cost
Land	3,318
Building / Construction in Progress & Improvements	14,284
Total	17,602
Accumulated Depreciation	6,915
Total Cost, Net of Accumulated Depreciation	10,687	11,155
Encumbrances	15,649
Current Communities | Avalon Orchards
Initial Cost
Land and improvements	2,983
Building / Construction in Progress & Improvements	17,932
Costs Subsequent to Acquisition / Construction	2,260
Total Cost
Land	2,983
Building / Construction in Progress & Improvements	20,192
Total	23,175
Accumulated Depreciation	9,744
Total Cost, Net of Accumulated Depreciation	13,431	14,061
Encumbrances	16,621
Current Communities | Avalon at Newton Highlands
Initial Cost
Land and improvements	11,039
Building / Construction in Progress & Improvements	45,531
Costs Subsequent to Acquisition / Construction	3,784
Total Cost
Land	11,039
Building / Construction in Progress & Improvements	49,315
Total	60,354
Accumulated Depreciation	21,314
Total Cost, Net of Accumulated Depreciation	39,040	40,699
Current Communities | Avalon at the Pinehills
Initial Cost
Land and improvements	6,876
Building / Construction in Progress & Improvements	30,401
Costs Subsequent to Acquisition / Construction	317
Total Cost
Land	6,876
Building / Construction in Progress & Improvements	30,718
Total	37,594
Accumulated Depreciation	8,915
Total Cost, Net of Accumulated Depreciation	28,679	29,624
Current Communities | Eaves Peabody
Initial Cost
Land and improvements	4,645
Building / Construction in Progress & Improvements	18,937
Costs Subsequent to Acquisition / Construction	12,388
Total Cost
Land	4,645
Building / Construction in Progress & Improvements	31,325
Total	35,970
Accumulated Depreciation	10,860
Total Cost, Net of Accumulated Depreciation	25,110	25,925
Current Communities | Avalon at Bedford Center
Initial Cost
Land and improvements	4,258
Building / Construction in Progress & Improvements	20,535
Costs Subsequent to Acquisition / Construction	483
Total Cost
Land	4,258
Building / Construction in Progress & Improvements	21,018
Total	25,276
Accumulated Depreciation	7,355
Total Cost, Net of Accumulated Depreciation	17,921	18,513
Current Communities | Avalon Chestnut Hill
Initial Cost
Land and improvements	14,572
Building / Construction in Progress & Improvements	45,820
Costs Subsequent to Acquisition / Construction	2,168
Total Cost
Land	14,572
Building / Construction in Progress & Improvements	47,988
Total	62,560
Accumulated Depreciation	15,529
Total Cost, Net of Accumulated Depreciation	47,031	48,794
Encumbrances	39,088
Current Communities | Avalon Shrewsbury
Initial Cost
Land and improvements	5,152
Building / Construction in Progress & Improvements	30,458
Costs Subsequent to Acquisition / Construction	1,358
Total Cost
Land	5,152
Building / Construction in Progress & Improvements	31,816
Total	36,968
Accumulated Depreciation	10,191
Total Cost, Net of Accumulated Depreciation	26,777	27,455
Encumbrances	19,867
Current Communities | Avalon at Lexington Hills
Initial Cost
Land and improvements	8,691
Building / Construction in Progress & Improvements	79,104
Costs Subsequent to Acquisition / Construction	1,686
Total Cost
Land	8,691
Building / Construction in Progress & Improvements	80,790
Total	89,481
Accumulated Depreciation	22,275
Total Cost, Net of Accumulated Depreciation	67,206	69,510
Current Communities | Avalon Acton
Initial Cost
Land and improvements	13,124
Building / Construction in Progress & Improvements	48,944
Costs Subsequent to Acquisition / Construction	2,309
Total Cost
Land	13,124
Building / Construction in Progress & Improvements	51,253
Total	64,377
Accumulated Depreciation	13,789
Total Cost, Net of Accumulated Depreciation	50,588	51,216
Encumbrances	45,000
Current Communities | Avalon Sharon
Initial Cost
Land and improvements	4,719
Building / Construction in Progress & Improvements	25,446
Costs Subsequent to Acquisition / Construction	461
Total Cost
Land	4,719
Building / Construction in Progress & Improvements	25,907
Total	30,626
Accumulated Depreciation	6,952
Total Cost, Net of Accumulated Depreciation	23,674	24,480
Current Communities | Avalon at Center Place
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	26,816
Costs Subsequent to Acquisition / Construction	10,563
Total Cost
Land	0
Building / Construction in Progress & Improvements	37,379
Total	37,379
Accumulated Depreciation	21,374
Total Cost, Net of Accumulated Depreciation	16,005	17,127
Current Communities | Avalon at Hingham Shipyard
Initial Cost
Land and improvements	12,218
Building / Construction in Progress & Improvements	41,655
Costs Subsequent to Acquisition / Construction	791
Total Cost
Land	12,218
Building / Construction in Progress & Improvements	42,446
Total	54,664
Accumulated Depreciation	10,635
Total Cost, Net of Accumulated Depreciation	44,029	45,193
Current Communities | Avalon Northborough
Initial Cost
Land and improvements	8,144
Building / Construction in Progress & Improvements	52,348
Costs Subsequent to Acquisition / Construction	198
Total Cost
Land	8,144
Building / Construction in Progress & Improvements	52,546
Total	60,690
Accumulated Depreciation	11,066
Total Cost, Net of Accumulated Depreciation	49,624	51,444
Current Communities | Avalon Blue Hills
Initial Cost
Land and improvements	11,110
Building / Construction in Progress & Improvements	34,690
Costs Subsequent to Acquisition / Construction	644
Total Cost
Land	11,110
Building / Construction in Progress & Improvements	35,334
Total	46,444
Accumulated Depreciation	8,135
Total Cost, Net of Accumulated Depreciation	38,309	39,070
Current Communities | Avalon Cohasset
Initial Cost
Land and improvements	8,802
Building / Construction in Progress & Improvements	46,184
Costs Subsequent to Acquisition / Construction	87
Total Cost
Land	8,802
Building / Construction in Progress & Improvements	46,271
Total	55,073
Accumulated Depreciation	6,561
Total Cost, Net of Accumulated Depreciation	48,512	50,141
Current Communities | Avalon Andover
Initial Cost
Land and improvements	4,276
Building / Construction in Progress & Improvements	21,862
Costs Subsequent to Acquisition / Construction	45
Total Cost
Land	4,276
Building / Construction in Progress & Improvements	21,907
Total	26,183
Accumulated Depreciation	2,892
Total Cost, Net of Accumulated Depreciation	23,291	24,065
Encumbrances	14,179
Current Communities | Eaves Burlington
Initial Cost
Land and improvements	7,714
Building / Construction in Progress & Improvements	32,502
Costs Subsequent to Acquisition / Construction	5,210
Total Cost
Land	7,714
Building / Construction in Progress & Improvements	37,712
Total	45,426
Accumulated Depreciation	3,726
Total Cost, Net of Accumulated Depreciation	41,700	42,947
Current Communities | AVA Back Bay
Initial Cost
Land and improvements	9,034
Building / Construction in Progress & Improvements	36,540
Costs Subsequent to Acquisition / Construction	39,506
Total Cost
Land	9,034
Building / Construction in Progress & Improvements	76,046
Total	85,080
Accumulated Depreciation	28,618
Total Cost, Net of Accumulated Depreciation	56,462	55,733
Current Communities | Avalon at Prudential Center II
Initial Cost
Land and improvements	8,776
Building / Construction in Progress & Improvements	35,496
Costs Subsequent to Acquisition / Construction	39,910
Total Cost
Land	8,776
Building / Construction in Progress & Improvements	75,406
Total	84,182
Accumulated Depreciation	27,376
Total Cost, Net of Accumulated Depreciation	56,806	50,955
Current Communities | Avalon at Prudential Center I
Initial Cost
Land and improvements	8,002
Building / Construction in Progress & Improvements	32,370
Costs Subsequent to Acquisition / Construction	31,040
Total Cost
Land	8,002
Building / Construction in Progress & Improvements	63,410
Total	71,412
Accumulated Depreciation	24,589
Total Cost, Net of Accumulated Depreciation	46,823	37,373
Current Communities | Avalon Burlington
Initial Cost
Land and improvements	15,600
Building / Construction in Progress & Improvements	58,312
Costs Subsequent to Acquisition / Construction	14,929
Total Cost
Land	15,600
Building / Construction in Progress & Improvements	73,241
Total	88,841
Accumulated Depreciation	7,761
Total Cost, Net of Accumulated Depreciation	81,080	76,409
Current Communities | Avalon Bear Hill
Initial Cost
Land and improvements	27,350
Building / Construction in Progress & Improvements	96,387
Costs Subsequent to Acquisition / Construction	18,621
Total Cost
Land	27,350
Building / Construction in Progress & Improvements	115,008
Total	142,358
Accumulated Depreciation	14,991
Total Cost, Net of Accumulated Depreciation	127,367	118,155
Current Communities | Eaves North Quincy
Initial Cost
Land and improvements	11,940
Building / Construction in Progress & Improvements	39,400
Costs Subsequent to Acquisition / Construction	2,814
Total Cost
Land	11,940
Building / Construction in Progress & Improvements	42,214
Total	54,154
Accumulated Depreciation	6,253
Total Cost, Net of Accumulated Depreciation	47,901	49,047
Current Communities | Avalon Natick
Initial Cost
Land and improvements	15,645
Building / Construction in Progress & Improvements	64,845
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	15,645
Building / Construction in Progress & Improvements	64,845
Total	80,490
Accumulated Depreciation	5,752
Total Cost, Net of Accumulated Depreciation	74,738	76,754
Encumbrances	51,230
Current Communities | Avalon Canton at Blue Hills
Initial Cost
Land and improvements	6,562
Building / Construction in Progress & Improvements	33,890
Costs Subsequent to Acquisition / Construction	105
Total Cost
Land	6,562
Building / Construction in Progress & Improvements	33,995
Total	40,557
Accumulated Depreciation	2,014
Total Cost, Net of Accumulated Depreciation	38,543	38,984
Current Communities | Avalon Exeter
Initial Cost
Land and improvements	16,313
Building / Construction in Progress & Improvements	110,043
Costs Subsequent to Acquisition / Construction	148
Total Cost
Land	16,313
Building / Construction in Progress & Improvements	110,191
Total	126,504
Accumulated Depreciation	5,827
Total Cost, Net of Accumulated Depreciation	120,677	122,588
Current Communities | AVA Somerville [Member]
Initial Cost
Land and improvements	10,902
Building / Construction in Progress & Improvements	0
Costs Subsequent to Acquisition / Construction	60,810
Total Cost
Land	10,902
Building / Construction in Progress & Improvements	60,810
Total	71,712
Accumulated Depreciation	2,794
Total Cost, Net of Accumulated Depreciation	68,918	71,998
Current Communities | Eaves Trumbull
Initial Cost
Land and improvements	4,414
Building / Construction in Progress & Improvements	31,254
Costs Subsequent to Acquisition / Construction	3,860
Total Cost
Land	4,414
Building / Construction in Progress & Improvements	35,114
Total	39,528
Accumulated Depreciation	22,039
Total Cost, Net of Accumulated Depreciation	17,489	18,515
Encumbrances	38,852
Current Communities | Eaves Stamford
Initial Cost
Land and improvements	5,956
Building / Construction in Progress & Improvements	23,993
Costs Subsequent to Acquisition / Construction	12,798
Total Cost
Land	5,956
Building / Construction in Progress & Improvements	36,791
Total	42,747
Accumulated Depreciation	21,445
Total Cost, Net of Accumulated Depreciation	21,302	22,648
Current Communities | Avalon Wilton I
Initial Cost
Land and improvements	2,116
Building / Construction in Progress & Improvements	14,664
Costs Subsequent to Acquisition / Construction	5,841
Total Cost
Land	2,116
Building / Construction in Progress & Improvements	20,505
Total	22,621
Accumulated Depreciation	10,601
Total Cost, Net of Accumulated Depreciation	12,020	12,766
Current Communities | Avalon New Canaan
Initial Cost
Land and improvements	4,834
Building / Construction in Progress & Improvements	22,990
Costs Subsequent to Acquisition / Construction	1,700
Total Cost
Land	4,834
Building / Construction in Progress & Improvements	24,690
Total	29,524
Accumulated Depreciation	11,179
Total Cost, Net of Accumulated Depreciation	18,345	17,206
Current Communities | AVA Stamford
Initial Cost
Land and improvements	13,819
Building / Construction in Progress & Improvements	56,499
Costs Subsequent to Acquisition / Construction	4,834
Total Cost
Land	13,819
Building / Construction in Progress & Improvements	61,333
Total	75,152
Accumulated Depreciation	27,600
Total Cost, Net of Accumulated Depreciation	47,552	49,851
Current Communities | Avalon Danbury
Initial Cost
Land and improvements	4,933
Building / Construction in Progress & Improvements	30,638
Costs Subsequent to Acquisition / Construction	797
Total Cost
Land	4,933
Building / Construction in Progress & Improvements	31,435
Total	36,368
Accumulated Depreciation	11,478
Total Cost, Net of Accumulated Depreciation	24,890	25,889
Current Communities | Avalon Darien
Initial Cost
Land and improvements	6,926
Building / Construction in Progress & Improvements	34,579
Costs Subsequent to Acquisition / Construction	2,074
Total Cost
Land	6,926
Building / Construction in Progress & Improvements	36,653
Total	43,579
Accumulated Depreciation	15,216
Total Cost, Net of Accumulated Depreciation	28,363	29,457
Current Communities | Avalon Milford I
Initial Cost
Land and improvements	8,746
Building / Construction in Progress & Improvements	22,699
Costs Subsequent to Acquisition / Construction	1,014
Total Cost
Land	8,746
Building / Construction in Progress & Improvements	23,713
Total	32,459
Accumulated Depreciation	9,357
Total Cost, Net of Accumulated Depreciation	23,102	23,677
Current Communities | Avalon Huntington
Initial Cost
Land and improvements	5,277
Building / Construction in Progress & Improvements	20,029
Costs Subsequent to Acquisition / Construction	137
Total Cost
Land	5,277
Building / Construction in Progress & Improvements	20,166
Total	25,443
Accumulated Depreciation	5,132
Total Cost, Net of Accumulated Depreciation	20,311	21,000
Current Communities | Avalon Norwalk
Initial Cost
Land and improvements	11,320
Building / Construction in Progress & Improvements	62,910
Costs Subsequent to Acquisition / Construction	440
Total Cost
Land	11,320
Building / Construction in Progress & Improvements	63,350
Total	74,670
Accumulated Depreciation	11,606
Total Cost, Net of Accumulated Depreciation	63,064	64,883
Current Communities | Avalon Wilton II
Initial Cost
Land and improvements	6,604
Building / Construction in Progress & Improvements	23,763
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	6,604
Building / Construction in Progress & Improvements	23,763
Total	30,367
Accumulated Depreciation	3,853
Total Cost, Net of Accumulated Depreciation	26,514	27,371
Current Communities | Avalon Shelton III
Initial Cost
Land and improvements	7,749
Building / Construction in Progress & Improvements	40,269
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	7,749
Building / Construction in Progress & Improvements	40,269
Total	48,018
Accumulated Depreciation	3,732
Total Cost, Net of Accumulated Depreciation	44,286	46,440
Current Communities | Avalon East Norwalk
Initial Cost
Land and improvements	10,395
Building / Construction in Progress & Improvements	36,246
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	10,395
Building / Construction in Progress & Improvements	36,246
Total	46,641
Accumulated Depreciation	2,981
Total Cost, Net of Accumulated Depreciation	43,660	44,875
Current Communities | Avalon at Stratford
Initial Cost
Land and improvements	2,564
Building / Construction in Progress & Improvements	27,109
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	2,564
Building / Construction in Progress & Improvements	27,109
Total	29,673
Accumulated Depreciation	1,322
Total Cost, Net of Accumulated Depreciation	28,351	29,107
Current Communities | Avalon Commons
Initial Cost
Land and improvements	4,679
Building / Construction in Progress & Improvements	28,286
Costs Subsequent to Acquisition / Construction	5,810
Total Cost
Land	4,679
Building / Construction in Progress & Improvements	34,096
Total	38,775
Accumulated Depreciation	19,958
Total Cost, Net of Accumulated Depreciation	18,817	19,961
Current Communities | Eaves Nanuet
Initial Cost
Land and improvements	8,428
Building / Construction in Progress & Improvements	45,660
Costs Subsequent to Acquisition / Construction	4,371
Total Cost
Land	8,428
Building / Construction in Progress & Improvements	50,031
Total	58,459
Accumulated Depreciation	30,225
Total Cost, Net of Accumulated Depreciation	28,234	29,666
Encumbrances	62,279
Current Communities | Avalon Green
Initial Cost
Land and improvements	1,820
Building / Construction in Progress & Improvements	10,525
Costs Subsequent to Acquisition / Construction	6,951
Total Cost
Land	1,820
Building / Construction in Progress & Improvements	17,476
Total	19,296
Accumulated Depreciation	8,585
Total Cost, Net of Accumulated Depreciation	10,711	5,989
Current Communities | AVA High Line [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	155,989
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	0
Building / Construction in Progress & Improvements	155,989
Total	155,989
Accumulated Depreciation	3,878
Total Cost, Net of Accumulated Depreciation	152,111	150,721
Current Communities | Avalon Towers
Initial Cost
Land and improvements	3,118
Building / Construction in Progress & Improvements	11,973
Costs Subsequent to Acquisition / Construction	20,127
Total Cost
Land	3,118
Building / Construction in Progress & Improvements	32,100
Total	35,218
Accumulated Depreciation	12,753
Total Cost, Net of Accumulated Depreciation	22,465	13,914
Current Communities | Avalon Willow
Initial Cost
Land and improvements	6,207
Building / Construction in Progress & Improvements	40,791
Costs Subsequent to Acquisition / Construction	1,727
Total Cost
Land	6,207
Building / Construction in Progress & Improvements	42,518
Total	48,725
Accumulated Depreciation	23,346
Total Cost, Net of Accumulated Depreciation	25,379	26,575
Current Communities | Avalon Court
Initial Cost
Land and improvements	9,228
Building / Construction in Progress & Improvements	50,063
Costs Subsequent to Acquisition / Construction	3,104
Total Cost
Land	9,228
Building / Construction in Progress & Improvements	53,167
Total	62,395
Accumulated Depreciation	30,699
Total Cost, Net of Accumulated Depreciation	31,696	33,465
Current Communities | The Avalon
Initial Cost
Land and improvements	2,889
Building / Construction in Progress & Improvements	28,324
Costs Subsequent to Acquisition / Construction	8,003
Total Cost
Land	2,889
Building / Construction in Progress & Improvements	36,327
Total	39,216
Accumulated Depreciation	17,178
Total Cost, Net of Accumulated Depreciation	22,038	23,324
Current Communities | Avalon at Glen Cove
Initial Cost
Land and improvements	7,871
Building / Construction in Progress & Improvements	59,969
Costs Subsequent to Acquisition / Construction	1,463
Total Cost
Land	7,871
Building / Construction in Progress & Improvements	61,432
Total	69,303
Accumulated Depreciation	24,106
Total Cost, Net of Accumulated Depreciation	45,197	46,967
Current Communities | Avalon Pines
Initial Cost
Land and improvements	8,700
Building / Construction in Progress & Improvements	62,931
Costs Subsequent to Acquisition / Construction	946
Total Cost
Land	8,700
Building / Construction in Progress & Improvements	63,877
Total	72,577
Accumulated Depreciation	22,979
Total Cost, Net of Accumulated Depreciation	49,598	51,424
Current Communities | Avalon Glen Cove North
Initial Cost
Land and improvements	2,577
Building / Construction in Progress & Improvements	37,336
Costs Subsequent to Acquisition / Construction	364
Total Cost
Land	2,577
Building / Construction in Progress & Improvements	37,700
Total	40,277
Accumulated Depreciation	11,287
Total Cost, Net of Accumulated Depreciation	28,990	30,129
Current Communities | Avalon White Plains
Initial Cost
Land and improvements	15,391
Building / Construction in Progress & Improvements	137,353
Costs Subsequent to Acquisition / Construction	210
Total Cost
Land	15,391
Building / Construction in Progress & Improvements	137,563
Total	152,954
Accumulated Depreciation	32,264
Total Cost, Net of Accumulated Depreciation	120,690	125,356
Current Communities | Avalon Rockville Centre
Initial Cost
Land and improvements	32,212
Building / Construction in Progress & Improvements	78,807
Costs Subsequent to Acquisition / Construction	10
Total Cost
Land	32,212
Building / Construction in Progress & Improvements	78,817
Total	111,029
Accumulated Depreciation	11,305
Total Cost, Net of Accumulated Depreciation	99,724	102,539
Current Communities | Avalon Green II
Initial Cost
Land and improvements	27,765
Building / Construction in Progress & Improvements	77,561
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	27,765
Building / Construction in Progress & Improvements	77,561
Total	105,326
Accumulated Depreciation	10,116
Total Cost, Net of Accumulated Depreciation	95,210	97,995
Current Communities | Avalon Garden City
Initial Cost
Land and improvements	18,205
Building / Construction in Progress & Improvements	49,372
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	18,205
Building / Construction in Progress & Improvements	49,372
Total	67,577
Accumulated Depreciation	5,802
Total Cost, Net of Accumulated Depreciation	61,775	63,578
Current Communities | Avalon Westbury
Initial Cost
Land and improvements	69,620
Building / Construction in Progress & Improvements	43,781
Costs Subsequent to Acquisition / Construction	9,882
Total Cost
Land	69,620
Building / Construction in Progress & Improvements	53,663
Total	123,283
Accumulated Depreciation	10,584
Total Cost, Net of Accumulated Depreciation	112,699	112,091
Encumbrances	81,175
Current Communities | Avalon Ossining
Initial Cost
Land and improvements	6,390
Building / Construction in Progress & Improvements	30,297
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	6,390
Building / Construction in Progress & Improvements	30,297
Total	36,687
Accumulated Depreciation	1,876
Total Cost, Net of Accumulated Depreciation	34,811	35,722
Current Communities | Avalon Huntington Station
Initial Cost
Land and improvements	21,896
Building / Construction in Progress & Improvements	58,602
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	21,896
Building / Construction in Progress & Improvements	58,602
Total	80,498
Accumulated Depreciation	2,964
Total Cost, Net of Accumulated Depreciation	77,534	78,571
Current Communities | Avalon Cove
Initial Cost
Land and improvements	8,760
Building / Construction in Progress & Improvements	82,422
Costs Subsequent to Acquisition / Construction	21,119
Total Cost
Land	8,760
Building / Construction in Progress & Improvements	103,541
Total	112,301
Accumulated Depreciation	57,650
Total Cost, Net of Accumulated Depreciation	54,651	58,185
Current Communities | Avalon Run
Initial Cost
Land and improvements	14,650
Building / Construction in Progress & Improvements	60,486
Costs Subsequent to Acquisition / Construction	7,744
Total Cost
Land	14,650
Building / Construction in Progress & Improvements	68,230
Total	82,880
Accumulated Depreciation	26,489
Total Cost, Net of Accumulated Depreciation	56,391	56,757
Current Communities | Avalon Princeton Junction
Initial Cost
Land and improvements	5,585
Building / Construction in Progress & Improvements	22,382
Costs Subsequent to Acquisition / Construction	20,927
Total Cost
Land	5,585
Building / Construction in Progress & Improvements	43,309
Total	48,894
Accumulated Depreciation	22,942
Total Cost, Net of Accumulated Depreciation	25,952	27,366
Current Communities | Avalon at Florham Park [Member]
Initial Cost
Land and improvements	6,647
Building / Construction in Progress & Improvements	34,906
Costs Subsequent to Acquisition / Construction	2,552
Total Cost
Land	6,647
Building / Construction in Progress & Improvements	37,458
Total	44,105
Accumulated Depreciation	19,437
Total Cost, Net of Accumulated Depreciation	24,668	25,723
Current Communities | Avalon at Edgewater
Initial Cost
Land and improvements	14,528
Building / Construction in Progress & Improvements	24,389
Costs Subsequent to Acquisition / Construction	1,517
Total Cost
Land	14,528
Building / Construction in Progress & Improvements	25,906
Total	40,434
Accumulated Depreciation	12,981
Total Cost, Net of Accumulated Depreciation	27,453	50,185
Current Communities | Avalon at Freehold
Initial Cost
Land and improvements	4,119
Building / Construction in Progress & Improvements	30,514
Costs Subsequent to Acquisition / Construction	1,050
Total Cost
Land	4,119
Building / Construction in Progress & Improvements	31,564
Total	35,683
Accumulated Depreciation	15,051
Total Cost, Net of Accumulated Depreciation	20,632	21,574
Encumbrances	34,441
Current Communities | Avalon at Tinton Falls
Initial Cost
Land and improvements	7,939
Building / Construction in Progress & Improvements	33,173
Costs Subsequent to Acquisition / Construction	392
Total Cost
Land	7,939
Building / Construction in Progress & Improvements	33,565
Total	41,504
Accumulated Depreciation	8,928
Total Cost, Net of Accumulated Depreciation	32,576	33,453
Current Communities | Avalon at West Long Branch
Initial Cost
Land and improvements	2,721
Building / Construction in Progress & Improvements	22,940
Costs Subsequent to Acquisition / Construction	56
Total Cost
Land	2,721
Building / Construction in Progress & Improvements	22,996
Total	25,717
Accumulated Depreciation	4,335
Total Cost, Net of Accumulated Depreciation	21,382	22,182
Current Communities | Avalon North Bergen
Initial Cost
Land and improvements	8,984
Building / Construction in Progress & Improvements	30,997
Costs Subsequent to Acquisition / Construction	919
Total Cost
Land	8,984
Building / Construction in Progress & Improvements	31,916
Total	40,900
Accumulated Depreciation	4,000
Total Cost, Net of Accumulated Depreciation	36,900	37,694
Current Communities | Avalon at Wesmont Station
Initial Cost
Land and improvements	14,682
Building / Construction in Progress & Improvements	41,635
Costs Subsequent to Acquisition / Construction	700
Total Cost
Land	14,682
Building / Construction in Progress & Improvements	42,335
Total	57,017
Accumulated Depreciation	5,385
Total Cost, Net of Accumulated Depreciation	51,632	53,332
Current Communities | Avalon Hackensack at Riverside
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	44,625
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	0
Building / Construction in Progress & Improvements	44,625
Total	44,625
Accumulated Depreciation	3,903
Total Cost, Net of Accumulated Depreciation	40,722	42,218
Current Communities | Avalon Somerset
Initial Cost
Land and improvements	18,241
Building / Construction in Progress & Improvements	58,343
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	18,241
Building / Construction in Progress & Improvements	58,343
Total	76,584
Accumulated Depreciation	5,510
Total Cost, Net of Accumulated Depreciation	71,074	73,201
Current Communities | Avalon at Wesmont Station II
Initial Cost
Land and improvements	6,502
Building / Construction in Progress & Improvements	16,863
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	6,502
Building / Construction in Progress & Improvements	16,863
Total	23,365
Accumulated Depreciation	1,603
Total Cost, Net of Accumulated Depreciation	21,762	22,372
Current Communities | Avalon Bloomingdale
Initial Cost
Land and improvements	3,006
Building / Construction in Progress & Improvements	27,800
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	3,006
Building / Construction in Progress & Improvements	27,800
Total	30,806
Accumulated Depreciation	2,136
Total Cost, Net of Accumulated Depreciation	28,670	29,628
Current Communities | Avalon Riverview I
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	94,061
Costs Subsequent to Acquisition / Construction	6,647
Total Cost
Land	0
Building / Construction in Progress & Improvements	100,708
Total	100,708
Accumulated Depreciation	45,214
Total Cost, Net of Accumulated Depreciation	55,494	57,407
Current Communities | Avalon Bowery Place
Initial Cost
Land and improvements	18,575
Building / Construction in Progress & Improvements	75,009
Costs Subsequent to Acquisition / Construction	2,383
Total Cost
Land	18,575
Building / Construction in Progress & Improvements	77,392
Total	95,967
Accumulated Depreciation	24,711
Total Cost, Net of Accumulated Depreciation	71,256	73,529
Encumbrances	93,800
Current Communities | Avalon Riverview North
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	166,099
Costs Subsequent to Acquisition / Construction	2,906
Total Cost
Land	0
Building / Construction in Progress & Improvements	169,005
Total	169,005
Accumulated Depreciation	47,953
Total Cost, Net of Accumulated Depreciation	121,052	125,242
Current Communities | Avalon Bowery Place II
Initial Cost
Land and improvements	9,106
Building / Construction in Progress & Improvements	47,199
Costs Subsequent to Acquisition / Construction	3,298
Total Cost
Land	9,106
Building / Construction in Progress & Improvements	50,497
Total	59,603
Accumulated Depreciation	13,624
Total Cost, Net of Accumulated Depreciation	45,979	46,034
Current Communities | Avalon Morningside Park
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	114,233
Costs Subsequent to Acquisition / Construction	1,037
Total Cost
Land	0
Building / Construction in Progress & Improvements	115,270
Total	115,270
Accumulated Depreciation	28,731
Total Cost, Net of Accumulated Depreciation	86,539	90,555
Encumbrances	100,000
Current Communities | Avalon Fort Greene
Initial Cost
Land and improvements	83,038
Building / Construction in Progress & Improvements	216,802
Costs Subsequent to Acquisition / Construction	860
Total Cost
Land	83,038
Building / Construction in Progress & Improvements	217,662
Total	300,700
Accumulated Depreciation	42,653
Total Cost, Net of Accumulated Depreciation	258,047	266,954
Current Communities | Avalon Midtown West
Initial Cost
Land and improvements	154,730
Building / Construction in Progress & Improvements	180,253
Costs Subsequent to Acquisition / Construction	12,299
Total Cost
Land	154,730
Building / Construction in Progress & Improvements	192,552
Total	347,282
Accumulated Depreciation	29,236
Total Cost, Net of Accumulated Depreciation	318,046	323,993
Encumbrances	100,500
Current Communities | Avalon Clinton North
Initial Cost
Land and improvements	84,069
Building / Construction in Progress & Improvements	105,821
Costs Subsequent to Acquisition / Construction	7,300
Total Cost
Land	84,069
Building / Construction in Progress & Improvements	113,121
Total	197,190
Accumulated Depreciation	16,054
Total Cost, Net of Accumulated Depreciation	181,136	183,684
Encumbrances	147,000
Current Communities | Avalon Clinton South
Initial Cost
Land and improvements	71,421
Building / Construction in Progress & Improvements	89,851
Costs Subsequent to Acquisition / Construction	5,238
Total Cost
Land	71,421
Building / Construction in Progress & Improvements	95,089
Total	166,510
Accumulated Depreciation	13,810
Total Cost, Net of Accumulated Depreciation	152,700	155,715
Encumbrances	121,500
Current Communities | Avalon at Foxhall
Initial Cost
Land and improvements	6,848
Building / Construction in Progress & Improvements	27,614
Costs Subsequent to Acquisition / Construction	12,556
Total Cost
Land	6,848
Building / Construction in Progress & Improvements	40,170
Total	47,018
Accumulated Depreciation	26,355
Total Cost, Net of Accumulated Depreciation	20,663	21,183
Encumbrances	55,484
Current Communities | Avalon at Gallery Place
Initial Cost
Land and improvements	8,800
Building / Construction in Progress & Improvements	39,658
Costs Subsequent to Acquisition / Construction	1,994
Total Cost
Land	8,800
Building / Construction in Progress & Improvements	41,652
Total	50,452
Accumulated Depreciation	17,969
Total Cost, Net of Accumulated Depreciation	32,483	33,603
Encumbrances	43,110
Current Communities | Avalon at Fairway Hills
Initial Cost
Land and improvements	8,603
Building / Construction in Progress & Improvements	34,432
Costs Subsequent to Acquisition / Construction	16,092
Total Cost
Land	8,603
Building / Construction in Progress & Improvements	50,524
Total	59,127
Accumulated Depreciation	30,110
Total Cost, Net of Accumulated Depreciation	29,017	30,674
Current Communities | Eaves Washingtonian Center I
Initial Cost
Land and improvements	2,608
Building / Construction in Progress & Improvements	11,707
Costs Subsequent to Acquisition / Construction	876
Total Cost
Land	2,608
Building / Construction in Progress & Improvements	12,583
Total	15,191
Accumulated Depreciation	8,378
Total Cost, Net of Accumulated Depreciation	6,813	7,031
Current Communities | Eaves Washingtonian Center II
Initial Cost
Land and improvements	1,439
Building / Construction in Progress & Improvements	6,846
Costs Subsequent to Acquisition / Construction	220
Total Cost
Land	1,439
Building / Construction in Progress & Improvements	7,066
Total	8,505
Accumulated Depreciation	4,215
Total Cost, Net of Accumulated Depreciation	4,290	4,495
Current Communities | Eaves Columbia Town Center
Initial Cost
Land and improvements	8,802
Building / Construction in Progress & Improvements	35,536
Costs Subsequent to Acquisition / Construction	11,612
Total Cost
Land	8,802
Building / Construction in Progress & Improvements	47,148
Total	55,950
Accumulated Depreciation	17,857
Total Cost, Net of Accumulated Depreciation	38,093	39,494
Current Communities | Avalon at Grosvenor Station
Initial Cost
Land and improvements	29,159
Building / Construction in Progress & Improvements	53,001
Costs Subsequent to Acquisition / Construction	2,141
Total Cost
Land	29,159
Building / Construction in Progress & Improvements	55,142
Total	84,301
Accumulated Depreciation	23,018
Total Cost, Net of Accumulated Depreciation	61,283	63,142
Current Communities | Avalon at Traville
Initial Cost
Land and improvements	14,365
Building / Construction in Progress & Improvements	55,398
Costs Subsequent to Acquisition / Construction	2,756
Total Cost
Land	14,365
Building / Construction in Progress & Improvements	58,154
Total	72,519
Accumulated Depreciation	23,257
Total Cost, Net of Accumulated Depreciation	49,262	49,241
Encumbrances	73,057
Current Communities | Avalon Russett
Initial Cost
Land and improvements	10,200
Building / Construction in Progress & Improvements	47,524
Costs Subsequent to Acquisition / Construction	2,813
Total Cost
Land	10,200
Building / Construction in Progress & Improvements	50,337
Total	60,537
Accumulated Depreciation	7,350
Total Cost, Net of Accumulated Depreciation	53,187	54,836
Encumbrances	39,972
Current Communities | Eaves Fair Lakes
Initial Cost
Land and improvements	6,096
Building / Construction in Progress & Improvements	24,400
Costs Subsequent to Acquisition / Construction	8,352
Total Cost
Land	6,096
Building / Construction in Progress & Improvements	32,752
Total	38,848
Accumulated Depreciation	18,921
Total Cost, Net of Accumulated Depreciation	19,927	20,965
Current Communities | AVA Ballston
Initial Cost
Land and improvements	7,291
Building / Construction in Progress & Improvements	29,177
Costs Subsequent to Acquisition / Construction	16,117
Total Cost
Land	7,291
Building / Construction in Progress & Improvements	45,294
Total	52,585
Accumulated Depreciation	25,962
Total Cost, Net of Accumulated Depreciation	26,623	28,291
Current Communities | Eaves Fairfax City
Initial Cost
Land and improvements	2,152
Building / Construction in Progress & Improvements	8,907
Costs Subsequent to Acquisition / Construction	5,390
Total Cost
Land	2,152
Building / Construction in Progress & Improvements	14,297
Total	16,449
Accumulated Depreciation	7,157
Total Cost, Net of Accumulated Depreciation	9,292	9,825
Current Communities | Avalon Tysons Corner
Initial Cost
Land and improvements	13,851
Building / Construction in Progress & Improvements	43,397
Costs Subsequent to Acquisition / Construction	12,485
Total Cost
Land	13,851
Building / Construction in Progress & Improvements	55,882
Total	69,733
Accumulated Depreciation	28,807
Total Cost, Net of Accumulated Depreciation	40,926	42,570
Current Communities | Avalon at Arlington Square
Initial Cost
Land and improvements	22,041
Building / Construction in Progress & Improvements	90,296
Costs Subsequent to Acquisition / Construction	18,070
Total Cost
Land	22,041
Building / Construction in Progress & Improvements	108,366
Total	130,407
Accumulated Depreciation	46,173
Total Cost, Net of Accumulated Depreciation	84,234	72,275
Current Communities | Avalon Park Crest
Initial Cost
Land and improvements	13,554
Building / Construction in Progress & Improvements	63,527
Costs Subsequent to Acquisition / Construction	31
Total Cost
Land	13,554
Building / Construction in Progress & Improvements	63,558
Total	77,112
Accumulated Depreciation	7,227
Total Cost, Net of Accumulated Depreciation	69,885	72,195
Current Communities | Eaves Fairfax Towers
Initial Cost
Land and improvements	17,889
Building / Construction in Progress & Improvements	74,727
Costs Subsequent to Acquisition / Construction	1,879
Total Cost
Land	17,889
Building / Construction in Progress & Improvements	76,606
Total	94,495
Accumulated Depreciation	12,627
Total Cost, Net of Accumulated Depreciation	81,868	84,552
Current Communities | AVA H Street
Initial Cost
Land and improvements	7,425
Building / Construction in Progress & Improvements	25,282
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	7,425
Building / Construction in Progress & Improvements	25,282
Total	32,707
Accumulated Depreciation	2,755
Total Cost, Net of Accumulated Depreciation	29,952	30,925
Current Communities | Avalon First & M
Initial Cost
Land and improvements	43,700
Building / Construction in Progress & Improvements	153,950
Costs Subsequent to Acquisition / Construction	2,665
Total Cost
Land	43,700
Building / Construction in Progress & Improvements	156,615
Total	200,315
Accumulated Depreciation	17,656
Total Cost, Net of Accumulated Depreciation	182,659	187,806
Current Communities | The Albemarle
Initial Cost
Land and improvements	25,140
Building / Construction in Progress & Improvements	52,459
Costs Subsequent to Acquisition / Construction	4,608
Total Cost
Land	25,140
Building / Construction in Progress & Improvements	57,067
Total	82,207
Accumulated Depreciation	8,821
Total Cost, Net of Accumulated Depreciation	73,386	74,336
Current Communities | Eaves Tunlaw Gardens
Initial Cost
Land and improvements	16,430
Building / Construction in Progress & Improvements	22,902
Costs Subsequent to Acquisition / Construction	2,100
Total Cost
Land	16,430
Building / Construction in Progress & Improvements	25,002
Total	41,432
Accumulated Depreciation	4,006
Total Cost, Net of Accumulated Depreciation	37,426	38,195
Current Communities | The Statesman
Initial Cost
Land and improvements	38,140
Building / Construction in Progress & Improvements	35,352
Costs Subsequent to Acquisition / Construction	3,715
Total Cost
Land	38,140
Building / Construction in Progress & Improvements	39,067
Total	77,207
Accumulated Depreciation	7,149
Total Cost, Net of Accumulated Depreciation	70,058	71,130
Current Communities | Eaves Glover Park
Initial Cost
Land and improvements	9,580
Building / Construction in Progress & Improvements	26,532
Costs Subsequent to Acquisition / Construction	2,146
Total Cost
Land	9,580
Building / Construction in Progress & Improvements	28,678
Total	38,258
Accumulated Depreciation	4,422
Total Cost, Net of Accumulated Depreciation	33,836	34,681
Current Communities | AVA Van Ness
Initial Cost
Land and improvements	22,890
Building / Construction in Progress & Improvements	58,691
Costs Subsequent to Acquisition / Construction	3,656
Total Cost
Land	22,890
Building / Construction in Progress & Improvements	62,347
Total	85,237
Accumulated Depreciation	8,982
Total Cost, Net of Accumulated Depreciation	76,255	78,192
Current Communities | Avalon Ballston Place
Initial Cost
Land and improvements	38,490
Building / Construction in Progress & Improvements	123,645
Costs Subsequent to Acquisition / Construction	3,907
Total Cost
Land	38,490
Building / Construction in Progress & Improvements	127,552
Total	166,042
Accumulated Depreciation	15,895
Total Cost, Net of Accumulated Depreciation	150,147	154,371
Current Communities | Eaves Tysons Corner
Initial Cost
Land and improvements	16,030
Building / Construction in Progress & Improvements	45,420
Costs Subsequent to Acquisition / Construction	2,581
Total Cost
Land	16,030
Building / Construction in Progress & Improvements	48,001
Total	64,031
Accumulated Depreciation	7,362
Total Cost, Net of Accumulated Depreciation	56,669	58,495
Current Communities | Avalon Ballston Square
Initial Cost
Land and improvements	71,640
Building / Construction in Progress & Improvements	215,937
Costs Subsequent to Acquisition / Construction	12,072
Total Cost
Land	71,640
Building / Construction in Progress & Improvements	228,009
Total	299,649
Accumulated Depreciation	31,147
Total Cost, Net of Accumulated Depreciation	268,502	274,405
Current Communities | Archstone Courthouse Place
Initial Cost
Land and improvements	56,550
Building / Construction in Progress & Improvements	178,032
Costs Subsequent to Acquisition / Construction	8,868
Total Cost
Land	56,550
Building / Construction in Progress & Improvements	186,900
Total	243,450
Accumulated Depreciation	25,150
Total Cost, Net of Accumulated Depreciation	218,300	223,792
Encumbrances	140,332
Current Communities | Avalon Reston Landing
Initial Cost
Land and improvements	26,710
Building / Construction in Progress & Improvements	83,084
Costs Subsequent to Acquisition / Construction	4,405
Total Cost
Land	26,710
Building / Construction in Progress & Improvements	87,489
Total	114,199
Accumulated Depreciation	13,195
Total Cost, Net of Accumulated Depreciation	101,004	104,285
Current Communities | Oakwood Arlington
Initial Cost
Land and improvements	18,850
Building / Construction in Progress & Improvements	38,545
Costs Subsequent to Acquisition / Construction	2,156
Total Cost
Land	18,850
Building / Construction in Progress & Improvements	40,701
Total	59,551
Accumulated Depreciation	5,707
Total Cost, Net of Accumulated Depreciation	53,844	54,927
Current Communities | Avalon Mosaic
Initial Cost
Land and improvements	33,488
Building / Construction in Progress & Improvements	75,723
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	33,488
Building / Construction in Progress & Improvements	75,723
Total	109,211
Accumulated Depreciation	4,911
Total Cost, Net of Accumulated Depreciation	104,300	106,456
Current Communities | Avalon Arlington North
Initial Cost
Land and improvements	21,600
Building / Construction in Progress & Improvements	59,077
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	21,600
Building / Construction in Progress & Improvements	59,077
Total	80,677
Accumulated Depreciation	3,601
Total Cost, Net of Accumulated Depreciation	77,076	78,895
Current Communities | Avalon Redmond Place
Initial Cost
Land and improvements	4,558
Building / Construction in Progress & Improvements	18,368
Costs Subsequent to Acquisition / Construction	10,247
Total Cost
Land	4,558
Building / Construction in Progress & Improvements	28,615
Total	33,173
Accumulated Depreciation	15,527
Total Cost, Net of Accumulated Depreciation	17,646	18,264
Current Communities | Avalon at Bear Creek
Initial Cost
Land and improvements	6,786
Building / Construction in Progress & Improvements	27,641
Costs Subsequent to Acquisition / Construction	3,595
Total Cost
Land	6,786
Building / Construction in Progress & Improvements	31,236
Total	38,022
Accumulated Depreciation	18,732
Total Cost, Net of Accumulated Depreciation	19,290	20,397
Current Communities | Avalon Bellevue
Initial Cost
Land and improvements	6,664
Building / Construction in Progress & Improvements	24,119
Costs Subsequent to Acquisition / Construction	1,726
Total Cost
Land	6,664
Building / Construction in Progress & Improvements	25,845
Total	32,509
Accumulated Depreciation	13,251
Total Cost, Net of Accumulated Depreciation	19,258	20,223
Encumbrances	25,103
Current Communities | Avalon RockMeadow
Initial Cost
Land and improvements	4,777
Building / Construction in Progress & Improvements	19,765
Costs Subsequent to Acquisition / Construction	2,214
Total Cost
Land	4,777
Building / Construction in Progress & Improvements	21,979
Total	26,756
Accumulated Depreciation	11,565
Total Cost, Net of Accumulated Depreciation	15,191	15,748
Current Communities | Avalon ParcSquare
Initial Cost
Land and improvements	3,789
Building / Construction in Progress & Improvements	15,139
Costs Subsequent to Acquisition / Construction	2,670
Total Cost
Land	3,789
Building / Construction in Progress & Improvements	17,809
Total	21,598
Accumulated Depreciation	9,306
Total Cost, Net of Accumulated Depreciation	12,292	12,971
Current Communities | Avalon Brandemoor
Initial Cost
Land and improvements	8,608
Building / Construction in Progress & Improvements	36,679
Costs Subsequent to Acquisition / Construction	1,811
Total Cost
Land	8,608
Building / Construction in Progress & Improvements	38,490
Total	47,098
Accumulated Depreciation	19,547
Total Cost, Net of Accumulated Depreciation	27,551	28,800
Current Communities | AVA Belltown
Initial Cost
Land and improvements	5,644
Building / Construction in Progress & Improvements	12,733
Costs Subsequent to Acquisition / Construction	888
Total Cost
Land	5,644
Building / Construction in Progress & Improvements	13,621
Total	19,265
Accumulated Depreciation	6,856
Total Cost, Net of Accumulated Depreciation	12,409	12,877
Encumbrances	61,769
Current Communities | Avalon Meydenbauer
Initial Cost
Land and improvements	12,697
Building / Construction in Progress & Improvements	77,451
Costs Subsequent to Acquisition / Construction	951
Total Cost
Land	12,697
Building / Construction in Progress & Improvements	78,402
Total	91,099
Accumulated Depreciation	20,691
Total Cost, Net of Accumulated Depreciation	70,408	73,031
Current Communities | Avalon Towers Bellevue
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	123,030
Costs Subsequent to Acquisition / Construction	815
Total Cost
Land	0
Building / Construction in Progress & Improvements	123,845
Total	123,845
Accumulated Depreciation	23,476
Total Cost, Net of Accumulated Depreciation	100,369	104,838
Current Communities | AVA Queen Anne
Initial Cost
Land and improvements	12,081
Building / Construction in Progress & Improvements	41,618
Costs Subsequent to Acquisition / Construction	347
Total Cost
Land	12,081
Building / Construction in Progress & Improvements	41,965
Total	54,046
Accumulated Depreciation	5,917
Total Cost, Net of Accumulated Depreciation	48,129	49,689
Current Communities | Avalon Brandemoor II
Initial Cost
Land and improvements	2,655
Building / Construction in Progress & Improvements	11,343
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	2,655
Building / Construction in Progress & Improvements	11,343
Total	13,998
Accumulated Depreciation	1,849
Total Cost, Net of Accumulated Depreciation	12,149	12,563
Current Communities | Avalon Ballard
Initial Cost
Land and improvements	16,460
Building / Construction in Progress & Improvements	46,926
Costs Subsequent to Acquisition / Construction	918
Total Cost
Land	16,460
Building / Construction in Progress & Improvements	47,844
Total	64,304
Accumulated Depreciation	4,620
Total Cost, Net of Accumulated Depreciation	59,684	60,540
Current Communities | Eaves Redmond Campus
Initial Cost
Land and improvements	22,580
Building / Construction in Progress & Improvements	88,001
Costs Subsequent to Acquisition / Construction	5,689
Total Cost
Land	22,580
Building / Construction in Progress & Improvements	93,690
Total	116,270
Accumulated Depreciation	13,745
Total Cost, Net of Accumulated Depreciation	102,525	105,671
Current Communities | Archstone Redmond Lakeview
Initial Cost
Land and improvements	10,250
Building / Construction in Progress & Improvements	26,842
Costs Subsequent to Acquisition / Construction	1,965
Total Cost
Land	10,250
Building / Construction in Progress & Improvements	28,807
Total	39,057
Accumulated Depreciation	4,440
Total Cost, Net of Accumulated Depreciation	34,617	35,621
Current Communities | AVA University District
Initial Cost
Land and improvements	12,594
Building / Construction in Progress & Improvements	60,773
Costs Subsequent to Acquisition / Construction	293
Total Cost
Land	12,594
Building / Construction in Progress & Improvements	61,066
Total	73,660
Accumulated Depreciation	4,386
Total Cost, Net of Accumulated Depreciation	69,274	71,367
Current Communities | Avalon Fremont
Initial Cost
Land and improvements	10,746
Building / Construction in Progress & Improvements	43,399
Costs Subsequent to Acquisition / Construction	5,270
Total Cost
Land	10,746
Building / Construction in Progress & Improvements	48,669
Total	59,415
Accumulated Depreciation	29,899
Total Cost, Net of Accumulated Depreciation	29,516	31,121
Current Communities | Eaves Dublin
Initial Cost
Land and improvements	5,276
Building / Construction in Progress & Improvements	19,642
Costs Subsequent to Acquisition / Construction	12,310
Total Cost
Land	5,276
Building / Construction in Progress & Improvements	31,952
Total	37,228
Accumulated Depreciation	15,397
Total Cost, Net of Accumulated Depreciation	21,831	19,902
Current Communities | Eaves Pleasanton
Initial Cost
Land and improvements	11,610
Building / Construction in Progress & Improvements	46,552
Costs Subsequent to Acquisition / Construction	21,421
Total Cost
Land	11,610
Building / Construction in Progress & Improvements	67,973
Total	79,583
Accumulated Depreciation	35,631
Total Cost, Net of Accumulated Depreciation	43,952	46,042
Current Communities | Eaves Union City
Initial Cost
Land and improvements	4,249
Building / Construction in Progress & Improvements	16,820
Costs Subsequent to Acquisition / Construction	2,918
Total Cost
Land	4,249
Building / Construction in Progress & Improvements	19,738
Total	23,987
Accumulated Depreciation	12,153
Total Cost, Net of Accumulated Depreciation	11,834	12,499
Current Communities | Eaves Fremont
Initial Cost
Land and improvements	6,581
Building / Construction in Progress & Improvements	26,583
Costs Subsequent to Acquisition / Construction	9,731
Total Cost
Land	6,581
Building / Construction in Progress & Improvements	36,314
Total	42,895
Accumulated Depreciation	20,388
Total Cost, Net of Accumulated Depreciation	22,507	23,696
Current Communities | Avalon Union City
Initial Cost
Land and improvements	14,732
Building / Construction in Progress & Improvements	104,025
Costs Subsequent to Acquisition / Construction	710
Total Cost
Land	14,732
Building / Construction in Progress & Improvements	104,735
Total	119,467
Accumulated Depreciation	23,419
Total Cost, Net of Accumulated Depreciation	96,048	99,329
Current Communities | Avalon Walnut Creek
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	146,035
Costs Subsequent to Acquisition / Construction	2,208
Total Cost
Land	0
Building / Construction in Progress & Improvements	148,243
Total	148,243
Accumulated Depreciation	27,731
Total Cost, Net of Accumulated Depreciation	120,512	125,195
Encumbrances	137,789
Current Communities | Eaves Walnut Creek
Initial Cost
Land and improvements	30,320
Building / Construction in Progress & Improvements	82,375
Costs Subsequent to Acquisition / Construction	11,632
Total Cost
Land	30,320
Building / Construction in Progress & Improvements	94,007
Total	124,327
Accumulated Depreciation	12,658
Total Cost, Net of Accumulated Depreciation	111,669	108,646
Current Communities | Avalon Walnut Ridge I
Initial Cost
Land and improvements	9,860
Building / Construction in Progress & Improvements	19,850
Costs Subsequent to Acquisition / Construction	2,549
Total Cost
Land	9,860
Building / Construction in Progress & Improvements	22,399
Total	32,259
Accumulated Depreciation	2,908
Total Cost, Net of Accumulated Depreciation	29,351	28,429
Encumbrances	20,754
Current Communities | Avalon Walnut Ridge II
Initial Cost
Land and improvements	27,190
Building / Construction in Progress & Improvements	57,041
Costs Subsequent to Acquisition / Construction	3,386
Total Cost
Land	27,190
Building / Construction in Progress & Improvements	60,427
Total	87,617
Accumulated Depreciation	9,093
Total Cost, Net of Accumulated Depreciation	78,524	80,540
Current Communities | Avalon Berkeley
Initial Cost
Land and improvements	4,500
Building / Construction in Progress & Improvements	28,430
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	4,500
Building / Construction in Progress & Improvements	28,430
Total	32,930
Accumulated Depreciation	1,484
Total Cost, Net of Accumulated Depreciation	31,446	32,679
Current Communities | Avalon Dublin Station
Initial Cost
Land and improvements	7,772
Building / Construction in Progress & Improvements	70,902
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	7,772
Building / Construction in Progress & Improvements	70,902
Total	78,674
Accumulated Depreciation	4,372
Total Cost, Net of Accumulated Depreciation	74,302	77,015
Current Communities | Eaves Daly City
Initial Cost
Land and improvements	4,230
Building / Construction in Progress & Improvements	9,659
Costs Subsequent to Acquisition / Construction	18,742
Total Cost
Land	4,230
Building / Construction in Progress & Improvements	28,401
Total	32,631
Accumulated Depreciation	15,793
Total Cost, Net of Accumulated Depreciation	16,838	17,747
Current Communities | AVA Nob Hill
Initial Cost
Land and improvements	5,403
Building / Construction in Progress & Improvements	21,567
Costs Subsequent to Acquisition / Construction	6,934
Total Cost
Land	5,403
Building / Construction in Progress & Improvements	28,501
Total	33,904
Accumulated Depreciation	15,043
Total Cost, Net of Accumulated Depreciation	18,861	19,825
Encumbrances	20,800
Current Communities | Eaves San Rafael
Initial Cost
Land and improvements	5,982
Building / Construction in Progress & Improvements	16,885
Costs Subsequent to Acquisition / Construction	24,396
Total Cost
Land	5,982
Building / Construction in Progress & Improvements	41,281
Total	47,263
Accumulated Depreciation	19,364
Total Cost, Net of Accumulated Depreciation	27,899	29,067
Current Communities | Eaves Foster City
Initial Cost
Land and improvements	7,852
Building / Construction in Progress & Improvements	31,445
Costs Subsequent to Acquisition / Construction	11,207
Total Cost
Land	7,852
Building / Construction in Progress & Improvements	42,652
Total	50,504
Accumulated Depreciation	22,693
Total Cost, Net of Accumulated Depreciation	27,811	29,298
Current Communities | Eaves Pacifica
Initial Cost
Land and improvements	6,125
Building / Construction in Progress & Improvements	24,796
Costs Subsequent to Acquisition / Construction	2,727
Total Cost
Land	6,125
Building / Construction in Progress & Improvements	27,523
Total	33,648
Accumulated Depreciation	16,591
Total Cost, Net of Accumulated Depreciation	17,057	17,867
Encumbrances	17,600
Current Communities | Avalon Sunset Towers
Initial Cost
Land and improvements	3,561
Building / Construction in Progress & Improvements	21,321
Costs Subsequent to Acquisition / Construction	15,034
Total Cost
Land	3,561
Building / Construction in Progress & Improvements	36,355
Total	39,916
Accumulated Depreciation	17,333
Total Cost, Net of Accumulated Depreciation	22,583	23,640
Current Communities | Eaves Diamond Heights
Initial Cost
Land and improvements	4,726
Building / Construction in Progress & Improvements	19,130
Costs Subsequent to Acquisition / Construction	5,844
Total Cost
Land	4,726
Building / Construction in Progress & Improvements	24,974
Total	29,700
Accumulated Depreciation	13,772
Total Cost, Net of Accumulated Depreciation	15,928	16,670
Current Communities | Avalon at Mission Bay North
Initial Cost
Land and improvements	14,029
Building / Construction in Progress & Improvements	78,452
Costs Subsequent to Acquisition / Construction	2,855
Total Cost
Land	14,029
Building / Construction in Progress & Improvements	81,307
Total	95,336
Accumulated Depreciation	36,002
Total Cost, Net of Accumulated Depreciation	59,334	61,896
Encumbrances	68,890
Current Communities | Avalon at Mission Bay III
Initial Cost
Land and improvements	28,687
Building / Construction in Progress & Improvements	119,156
Costs Subsequent to Acquisition / Construction	75
Total Cost
Land	28,687
Building / Construction in Progress & Improvements	119,231
Total	147,918
Accumulated Depreciation	26,937
Total Cost, Net of Accumulated Depreciation	120,981	125,215
Current Communities | Avalon Ocean Avenue
Initial Cost
Land and improvements	5,544
Building / Construction in Progress & Improvements	50,883
Costs Subsequent to Acquisition / Construction	1,759
Total Cost
Land	5,544
Building / Construction in Progress & Improvements	52,642
Total	58,186
Accumulated Depreciation	6,740
Total Cost, Net of Accumulated Depreciation	51,446	53,340
Current Communities | Archstone San Bruno
Initial Cost
Land and improvements	40,780
Building / Construction in Progress & Improvements	68,684
Costs Subsequent to Acquisition / Construction	3,028
Total Cost
Land	40,780
Building / Construction in Progress & Improvements	71,712
Total	112,492
Accumulated Depreciation	10,028
Total Cost, Net of Accumulated Depreciation	102,464	104,932
Encumbrances	64,450
Current Communities | Archstone San Bruno II
Initial Cost
Land and improvements	23,787
Building / Construction in Progress & Improvements	44,934
Costs Subsequent to Acquisition / Construction	1,669
Total Cost
Land	23,787
Building / Construction in Progress & Improvements	46,603
Total	70,390
Accumulated Depreciation	6,080
Total Cost, Net of Accumulated Depreciation	64,310	65,862
Encumbrances	30,514
Current Communities | Archstone San Bruno III
Initial Cost
Land and improvements	33,303
Building / Construction in Progress & Improvements	62,910
Costs Subsequent to Acquisition / Construction	2,412
Total Cost
Land	33,303
Building / Construction in Progress & Improvements	65,322
Total	98,625
Accumulated Depreciation	8,517
Total Cost, Net of Accumulated Depreciation	90,108	92,222
Encumbrances	55,650
Current Communities | AVA 55 Ninth
Initial Cost
Land and improvements	20,267
Building / Construction in Progress & Improvements	97,211
Costs Subsequent to Acquisition / Construction	1,135
Total Cost
Land	20,267
Building / Construction in Progress & Improvements	98,346
Total	118,613
Accumulated Depreciation	5,709
Total Cost, Net of Accumulated Depreciation	112,904	114,536
Current Communities | Avalon Campbell
Initial Cost
Land and improvements	11,830
Building / Construction in Progress & Improvements	47,828
Costs Subsequent to Acquisition / Construction	13,436
Total Cost
Land	11,830
Building / Construction in Progress & Improvements	61,264
Total	73,094
Accumulated Depreciation	30,932
Total Cost, Net of Accumulated Depreciation	42,162	44,418
Encumbrances	38,800
Current Communities | Eaves San Jose
Initial Cost
Land and improvements	12,920
Building / Construction in Progress & Improvements	53,047
Costs Subsequent to Acquisition / Construction	18,868
Total Cost
Land	12,920
Building / Construction in Progress & Improvements	71,915
Total	84,835
Accumulated Depreciation	31,204
Total Cost, Net of Accumulated Depreciation	53,631	56,089
Current Communities | Avalon on the Alameda
Initial Cost
Land and improvements	6,119
Building / Construction in Progress & Improvements	50,225
Costs Subsequent to Acquisition / Construction	1,860
Total Cost
Land	6,119
Building / Construction in Progress & Improvements	52,085
Total	58,204
Accumulated Depreciation	29,869
Total Cost, Net of Accumulated Depreciation	28,335	29,953
Encumbrances	50,754
Current Communities | Avalon Silicon Valley
Initial Cost
Land and improvements	20,713
Building / Construction in Progress & Improvements	99,573
Costs Subsequent to Acquisition / Construction	11,163
Total Cost
Land	20,713
Building / Construction in Progress & Improvements	110,736
Total	131,449
Accumulated Depreciation	62,735
Total Cost, Net of Accumulated Depreciation	68,714	65,997
Current Communities | Avalon Mountain View
Initial Cost
Land and improvements	9,755
Building / Construction in Progress & Improvements	39,393
Costs Subsequent to Acquisition / Construction	9,960
Total Cost
Land	9,755
Building / Construction in Progress & Improvements	49,353
Total	59,108
Accumulated Depreciation	27,178
Total Cost, Net of Accumulated Depreciation	31,930	33,117
Encumbrances	17,700
Current Communities | Eaves Creekside
Initial Cost
Land and improvements	6,546
Building / Construction in Progress & Improvements	26,263
Costs Subsequent to Acquisition / Construction	21,310
Total Cost
Land	6,546
Building / Construction in Progress & Improvements	47,573
Total	54,119
Accumulated Depreciation	22,428
Total Cost, Net of Accumulated Depreciation	31,691	33,054
Current Communities | Avalon at Cahill Park
Initial Cost
Land and improvements	4,765
Building / Construction in Progress & Improvements	47,600
Costs Subsequent to Acquisition / Construction	1,484
Total Cost
Land	4,765
Building / Construction in Progress & Improvements	49,084
Total	53,849
Accumulated Depreciation	22,565
Total Cost, Net of Accumulated Depreciation	31,284	33,049
Current Communities | Avalon Towers on the Peninsula
Initial Cost
Land and improvements	9,560
Building / Construction in Progress & Improvements	56,136
Costs Subsequent to Acquisition / Construction	1,118
Total Cost
Land	9,560
Building / Construction in Progress & Improvements	57,254
Total	66,814
Accumulated Depreciation	27,109
Total Cost, Net of Accumulated Depreciation	39,705	41,684
Current Communities | Avalon Willow Glen
Initial Cost
Land and improvements	46,060
Building / Construction in Progress & Improvements	81,957
Costs Subsequent to Acquisition / Construction	4,096
Total Cost
Land	46,060
Building / Construction in Progress & Improvements	86,053
Total	132,113
Accumulated Depreciation	13,139
Total Cost, Net of Accumulated Depreciation	118,974	122,271
Current Communities | Eaves West Valley
Initial Cost
Land and improvements	90,890
Building / Construction in Progress & Improvements	113,628
Costs Subsequent to Acquisition / Construction	7,402
Total Cost
Land	90,890
Building / Construction in Progress & Improvements	121,030
Total	211,920
Accumulated Depreciation	19,133
Total Cost, Net of Accumulated Depreciation	192,787	196,891
Encumbrances	75,092
Current Communities | Eaves Mountain View at Middlefield
Initial Cost
Land and improvements	64,070
Building / Construction in Progress & Improvements	69,018
Costs Subsequent to Acquisition / Construction	5,112
Total Cost
Land	64,070
Building / Construction in Progress & Improvements	74,130
Total	138,200
Accumulated Depreciation	12,194
Total Cost, Net of Accumulated Depreciation	126,006	128,519
Current Communities | Eaves West Valley II
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	18,412
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	0
Building / Construction in Progress & Improvements	18,412
Total	18,412
Accumulated Depreciation	1,411
Total Cost, Net of Accumulated Depreciation	17,001	17,676
Encumbrances	7,995
Current Communities | Avalon Morrison Park
Initial Cost
Land and improvements	13,837
Building / Construction in Progress & Improvements	64,527
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	13,837
Building / Construction in Progress & Improvements	64,527
Total	78,364
Accumulated Depreciation	4,128
Total Cost, Net of Accumulated Depreciation	74,236	76,418
Current Communities | Avalon Mission Viejo
Initial Cost
Land and improvements	2,517
Building / Construction in Progress & Improvements	9,257
Costs Subsequent to Acquisition / Construction	3,466
Total Cost
Land	2,517
Building / Construction in Progress & Improvements	12,723
Total	15,240
Accumulated Depreciation	7,564
Total Cost, Net of Accumulated Depreciation	7,676	7,400
Encumbrances	7,635
Current Communities | Eaves South Coast
Initial Cost
Land and improvements	4,709
Building / Construction in Progress & Improvements	16,063
Costs Subsequent to Acquisition / Construction	12,895
Total Cost
Land	4,709
Building / Construction in Progress & Improvements	28,958
Total	33,667
Accumulated Depreciation	14,897
Total Cost, Net of Accumulated Depreciation	18,770	19,657
Current Communities | Eaves Santa Margarita
Initial Cost
Land and improvements	4,607
Building / Construction in Progress & Improvements	16,911
Costs Subsequent to Acquisition / Construction	10,427
Total Cost
Land	4,607
Building / Construction in Progress & Improvements	27,338
Total	31,945
Accumulated Depreciation	13,779
Total Cost, Net of Accumulated Depreciation	18,166	19,012
Current Communities | Eaves Huntington Beach
Initial Cost
Land and improvements	4,871
Building / Construction in Progress & Improvements	19,745
Costs Subsequent to Acquisition / Construction	9,656
Total Cost
Land	4,871
Building / Construction in Progress & Improvements	29,401
Total	34,272
Accumulated Depreciation	17,769
Total Cost, Net of Accumulated Depreciation	16,503	17,489
Current Communities | Avalon Anaheim Stadium
Initial Cost
Land and improvements	27,874
Building / Construction in Progress & Improvements	69,156
Costs Subsequent to Acquisition / Construction	706
Total Cost
Land	27,874
Building / Construction in Progress & Improvements	69,862
Total	97,736
Accumulated Depreciation	16,932
Total Cost, Net of Accumulated Depreciation	80,804	83,316
Current Communities | Avalon Irvine
Initial Cost
Land and improvements	9,911
Building / Construction in Progress & Improvements	67,524
Costs Subsequent to Acquisition / Construction	68
Total Cost
Land	9,911
Building / Construction in Progress & Improvements	67,592
Total	77,503
Accumulated Depreciation	14,941
Total Cost, Net of Accumulated Depreciation	62,562	64,983
Current Communities | Eaves Lake Forest
Initial Cost
Land and improvements	5,199
Building / Construction in Progress & Improvements	21,134
Costs Subsequent to Acquisition / Construction	2,131
Total Cost
Land	5,199
Building / Construction in Progress & Improvements	23,265
Total	28,464
Accumulated Depreciation	3,866
Total Cost, Net of Accumulated Depreciation	24,598	25,441
Current Communities | Avalon Irvine II
Initial Cost
Land and improvements	4,358
Building / Construction in Progress & Improvements	40,906
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	4,358
Building / Construction in Progress & Improvements	40,906
Total	45,264
Accumulated Depreciation	4,241
Total Cost, Net of Accumulated Depreciation	41,023	42,511
Current Communities | Eaves Seal Beach
Initial Cost
Land and improvements	46,790
Building / Construction in Progress & Improvements	99,999
Costs Subsequent to Acquisition / Construction	4,748
Total Cost
Land	46,790
Building / Construction in Progress & Improvements	104,747
Total	151,537
Accumulated Depreciation	15,067
Total Cost, Net of Accumulated Depreciation	136,470	140,246
Current Communities | AVA Pacific Beach
Initial Cost
Land and improvements	9,922
Building / Construction in Progress & Improvements	40,580
Costs Subsequent to Acquisition / Construction	40,107
Total Cost
Land	9,922
Building / Construction in Progress & Improvements	80,687
Total	90,609
Accumulated Depreciation	35,087
Total Cost, Net of Accumulated Depreciation	55,522	49,113
Current Communities | Eaves Mission Ridge
Initial Cost
Land and improvements	2,710
Building / Construction in Progress & Improvements	10,924
Costs Subsequent to Acquisition / Construction	11,357
Total Cost
Land	2,710
Building / Construction in Progress & Improvements	22,281
Total	24,991
Accumulated Depreciation	12,987
Total Cost, Net of Accumulated Depreciation	12,004	12,684
Current Communities | AVA Cortez Hill
Initial Cost
Land and improvements	2,768
Building / Construction in Progress & Improvements	20,134
Costs Subsequent to Acquisition / Construction	23,497
Total Cost
Land	2,768
Building / Construction in Progress & Improvements	43,631
Total	46,399
Accumulated Depreciation	20,396
Total Cost, Net of Accumulated Depreciation	26,003	27,513
Current Communities | Avalon Fashion Valley
Initial Cost
Land and improvements	19,627
Building / Construction in Progress & Improvements	44,972
Costs Subsequent to Acquisition / Construction	399
Total Cost
Land	19,627
Building / Construction in Progress & Improvements	45,371
Total	64,998
Accumulated Depreciation	11,485
Total Cost, Net of Accumulated Depreciation	53,513	55,029
Current Communities | Eaves San Marcos
Initial Cost
Land and improvements	3,277
Building / Construction in Progress & Improvements	13,385
Costs Subsequent to Acquisition / Construction	982
Total Cost
Land	3,277
Building / Construction in Progress & Improvements	14,367
Total	17,644
Accumulated Depreciation	2,377
Total Cost, Net of Accumulated Depreciation	15,267	15,653
Current Communities | Eaves Rancho Penasquitos
Initial Cost
Land and improvements	6,692
Building / Construction in Progress & Improvements	27,143
Costs Subsequent to Acquisition / Construction	2,027
Total Cost
Land	6,692
Building / Construction in Progress & Improvements	29,170
Total	35,862
Accumulated Depreciation	4,715
Total Cost, Net of Accumulated Depreciation	31,147	31,972
Current Communities | Avalon La Jolla Colony
Initial Cost
Land and improvements	16,760
Building / Construction in Progress & Improvements	27,694
Costs Subsequent to Acquisition / Construction	3,687
Total Cost
Land	16,760
Building / Construction in Progress & Improvements	31,381
Total	48,141
Accumulated Depreciation	4,852
Total Cost, Net of Accumulated Depreciation	43,289	42,888
Encumbrances	27,176
Current Communities | Eaves La Mesa
Initial Cost
Land and improvements	9,490
Building / Construction in Progress & Improvements	28,482
Costs Subsequent to Acquisition / Construction	1,354
Total Cost
Land	9,490
Building / Construction in Progress & Improvements	29,836
Total	39,326
Accumulated Depreciation	4,513
Total Cost, Net of Accumulated Depreciation	34,813	36,077
Current Communities | AVA Burbank
Initial Cost
Land and improvements	22,483
Building / Construction in Progress & Improvements	28,104
Costs Subsequent to Acquisition / Construction	48,165
Total Cost
Land	22,483
Building / Construction in Progress & Improvements	76,269
Total	98,752
Accumulated Depreciation	35,042
Total Cost, Net of Accumulated Depreciation	63,710	66,594
Current Communities | Avalon Woodland Hills
Initial Cost
Land and improvements	23,828
Building / Construction in Progress & Improvements	40,372
Costs Subsequent to Acquisition / Construction	47,354
Total Cost
Land	23,828
Building / Construction in Progress & Improvements	87,726
Total	111,554
Accumulated Depreciation	39,443
Total Cost, Net of Accumulated Depreciation	72,111	74,700
Current Communities | Eaves Warner Center
Initial Cost
Land and improvements	7,045
Building / Construction in Progress & Improvements	12,986
Costs Subsequent to Acquisition / Construction	9,445
Total Cost
Land	7,045
Building / Construction in Progress & Improvements	22,431
Total	29,476
Accumulated Depreciation	13,887
Total Cost, Net of Accumulated Depreciation	15,589	16,318
Current Communities | Avalon at Glendale
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	42,564
Costs Subsequent to Acquisition / Construction	1,319
Total Cost
Land	0
Building / Construction in Progress & Improvements	43,883
Total	43,883
Accumulated Depreciation	18,482
Total Cost, Net of Accumulated Depreciation	25,401	26,796
Current Communities | Avalon Burbank
Initial Cost
Land and improvements	14,053
Building / Construction in Progress & Improvements	56,827
Costs Subsequent to Acquisition / Construction	23,979
Total Cost
Land	14,053
Building / Construction in Progress & Improvements	80,806
Total	94,859
Accumulated Depreciation	32,102
Total Cost, Net of Accumulated Depreciation	62,757	65,454
Current Communities | Avalon Camarillo
Initial Cost
Land and improvements	8,446
Building / Construction in Progress & Improvements	40,290
Costs Subsequent to Acquisition / Construction	409
Total Cost
Land	8,446
Building / Construction in Progress & Improvements	40,699
Total	49,145
Accumulated Depreciation	13,574
Total Cost, Net of Accumulated Depreciation	35,571	36,646
Current Communities | Avalon Wilshire
Initial Cost
Land and improvements	5,459
Building / Construction in Progress & Improvements	41,182
Costs Subsequent to Acquisition / Construction	1,058
Total Cost
Land	5,459
Building / Construction in Progress & Improvements	42,240
Total	47,699
Accumulated Depreciation	12,740
Total Cost, Net of Accumulated Depreciation	34,959	36,418
Current Communities | Avalon Encino
Initial Cost
Land and improvements	12,789
Building / Construction in Progress & Improvements	49,073
Costs Subsequent to Acquisition / Construction	576
Total Cost
Land	12,789
Building / Construction in Progress & Improvements	49,649
Total	62,438
Accumulated Depreciation	12,575
Total Cost, Net of Accumulated Depreciation	49,863	51,445
Current Communities | Avalon Warner Place
Initial Cost
Land and improvements	7,920
Building / Construction in Progress & Improvements	44,848
Costs Subsequent to Acquisition / Construction	224
Total Cost
Land	7,920
Building / Construction in Progress & Improvements	45,072
Total	52,992
Accumulated Depreciation	12,078
Total Cost, Net of Accumulated Depreciation	40,914	42,429
Current Communities | Eaves Phillips Ranch
Initial Cost
Land and improvements	9,796
Building / Construction in Progress & Improvements	41,740
Costs Subsequent to Acquisition / Construction	429
Total Cost
Land	9,796
Building / Construction in Progress & Improvements	42,169
Total	51,965
Accumulated Depreciation	7,038
Total Cost, Net of Accumulated Depreciation	44,927	46,266
Current Communities | Eaves San Dimas
Initial Cost
Land and improvements	1,916
Building / Construction in Progress & Improvements	7,819
Costs Subsequent to Acquisition / Construction	1,037
Total Cost
Land	1,916
Building / Construction in Progress & Improvements	8,856
Total	10,772
Accumulated Depreciation	1,391
Total Cost, Net of Accumulated Depreciation	9,381	9,165
Current Communities | Eaves San Dimas Canyon
Initial Cost
Land and improvements	2,953
Building / Construction in Progress & Improvements	12,428
Costs Subsequent to Acquisition / Construction	322
Total Cost
Land	2,953
Building / Construction in Progress & Improvements	12,750
Total	15,703
Accumulated Depreciation	2,135
Total Cost, Net of Accumulated Depreciation	13,568	13,909
Current Communities | AVA Pasadena
Initial Cost
Land and improvements	8,400
Building / Construction in Progress & Improvements	11,547
Costs Subsequent to Acquisition / Construction	5,514
Total Cost
Land	8,400
Building / Construction in Progress & Improvements	17,061
Total	25,461
Accumulated Depreciation	1,950
Total Cost, Net of Accumulated Depreciation	23,511	24,016
Encumbrances	11,489
Current Communities | Eaves Cerritos
Initial Cost
Land and improvements	8,305
Building / Construction in Progress & Improvements	21,195
Costs Subsequent to Acquisition / Construction	1,430
Total Cost
Land	8,305
Building / Construction in Progress & Improvements	22,625
Total	30,930
Accumulated Depreciation	2,787
Total Cost, Net of Accumulated Depreciation	28,143	28,901
Current Communities | Avalon Del Rey
Initial Cost
Land and improvements	30,900
Building / Construction in Progress & Improvements	72,008
Costs Subsequent to Acquisition / Construction	2,160
Total Cost
Land	30,900
Building / Construction in Progress & Improvements	74,168
Total	105,068
Accumulated Depreciation	8,456
Total Cost, Net of Accumulated Depreciation	96,612	97,584
Current Communities | Avalon Simi Valley
Initial Cost
Land and improvements	42,020
Building / Construction in Progress & Improvements	73,361
Costs Subsequent to Acquisition / Construction	4,564
Total Cost
Land	42,020
Building / Construction in Progress & Improvements	77,925
Total	119,945
Accumulated Depreciation	11,883
Total Cost, Net of Accumulated Depreciation	108,062	110,634
Current Communities | Avalon Studio City II
Initial Cost
Land and improvements	4,626
Building / Construction in Progress & Improvements	22,954
Costs Subsequent to Acquisition / Construction	1,222
Total Cost
Land	4,626
Building / Construction in Progress & Improvements	24,176
Total	28,802
Accumulated Depreciation	3,353
Total Cost, Net of Accumulated Depreciation	25,449	26,306
Current Communities | Avalon Studio City III
Initial Cost
Land and improvements	15,756
Building / Construction in Progress & Improvements	78,178
Costs Subsequent to Acquisition / Construction	3,607
Total Cost
Land	15,756
Building / Construction in Progress & Improvements	81,785
Total	97,541
Accumulated Depreciation	11,304
Total Cost, Net of Accumulated Depreciation	86,237	88,924
Current Communities | Avalon Calabasas
Initial Cost
Land and improvements	42,720
Building / Construction in Progress & Improvements	107,642
Costs Subsequent to Acquisition / Construction	8,461
Total Cost
Land	42,720
Building / Construction in Progress & Improvements	116,103
Total	158,823
Accumulated Depreciation	18,337
Total Cost, Net of Accumulated Depreciation	140,486	143,201
Encumbrances	99,166
Current Communities | Avalon Oak Creek
Initial Cost
Land and improvements	43,540
Building / Construction in Progress & Improvements	79,974
Costs Subsequent to Acquisition / Construction	4,999
Total Cost
Land	43,540
Building / Construction in Progress & Improvements	84,973
Total	128,513
Accumulated Depreciation	13,868
Total Cost, Net of Accumulated Depreciation	114,645	117,487
Encumbrances	85,288
Current Communities | Avalon Santa Monica on Main
Initial Cost
Land and improvements	32,000
Building / Construction in Progress & Improvements	60,770
Costs Subsequent to Acquisition / Construction	11,000
Total Cost
Land	32,000
Building / Construction in Progress & Improvements	71,770
Total	103,770
Accumulated Depreciation	8,732
Total Cost, Net of Accumulated Depreciation	95,038	89,409
Current Communities | Avalon Del Mar Station
Initial Cost
Land and improvements	20,560
Building / Construction in Progress & Improvements	106,556
Costs Subsequent to Acquisition / Construction	3,363
Total Cost
Land	20,560
Building / Construction in Progress & Improvements	109,919
Total	130,479
Accumulated Depreciation	13,319
Total Cost, Net of Accumulated Depreciation	117,160	120,743
Encumbrances	76,471
Current Communities | Eaves Old Town Pasadena
Initial Cost
Land and improvements	9,110
Building / Construction in Progress & Improvements	15,371
Costs Subsequent to Acquisition / Construction	1,376
Total Cost
Land	9,110
Building / Construction in Progress & Improvements	16,747
Total	25,857
Accumulated Depreciation	2,686
Total Cost, Net of Accumulated Depreciation	23,171	23,616
Encumbrances	15,669
Current Communities | Eaves Thousand Oaks
Initial Cost
Land and improvements	13,950
Building / Construction in Progress & Improvements	20,211
Costs Subsequent to Acquisition / Construction	2,153
Total Cost
Land	13,950
Building / Construction in Progress & Improvements	22,364
Total	36,314
Accumulated Depreciation	4,166
Total Cost, Net of Accumulated Depreciation	32,148	33,006
Encumbrances	27,411
Current Communities | Eaves Los Feliz
Initial Cost
Land and improvements	18,940
Building / Construction in Progress & Improvements	43,661
Costs Subsequent to Acquisition / Construction	3,433
Total Cost
Land	18,940
Building / Construction in Progress & Improvements	47,094
Total	66,034
Accumulated Depreciation	7,096
Total Cost, Net of Accumulated Depreciation	58,938	60,298
Encumbrances	43,258
Current Communities | Eaves Woodland Hills
Initial Cost
Land and improvements	68,940
Building / Construction in Progress & Improvements	90,549
Costs Subsequent to Acquisition / Construction	9,449
Total Cost
Land	68,940
Building / Construction in Progress & Improvements	99,998
Total	168,938
Accumulated Depreciation	17,097
Total Cost, Net of Accumulated Depreciation	151,841	155,277
Encumbrances	104,694
Current Communities | AVA Newport [Member]
Initial Cost
Land and improvements	1,975
Building / Construction in Progress & Improvements	3,814
Costs Subsequent to Acquisition / Construction	9,801
Total Cost
Land	1,975
Building / Construction in Progress & Improvements	13,615
Total	15,590
Accumulated Depreciation	5,998
Total Cost, Net of Accumulated Depreciation	9,592	10,100
Current Communities | Avalon Pasadena
Initial Cost
Land and improvements	10,240
Building / Construction in Progress & Improvements	31,558
Costs Subsequent to Acquisition / Construction	2,719
Total Cost
Land	10,240
Building / Construction in Progress & Improvements	34,277
Total	44,517
Accumulated Depreciation	4,627
Total Cost, Net of Accumulated Depreciation	39,890	40,103
Encumbrances	28,079
Current Communities | Avalon Studio City
Initial Cost
Land and improvements	17,658
Building / Construction in Progress & Improvements	90,715
Costs Subsequent to Acquisition / Construction	4,837
Total Cost
Land	17,658
Building / Construction in Progress & Improvements	95,552
Total	113,210
Accumulated Depreciation	13,012
Total Cost, Net of Accumulated Depreciation	100,198	102,765
Current Communities | Avalon San Dimas
Initial Cost
Land and improvements	9,141
Building / Construction in Progress & Improvements	30,708
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	9,141
Building / Construction in Progress & Improvements	30,708
Total	39,849
Accumulated Depreciation	1,458
Total Cost, Net of Accumulated Depreciation	38,391	39,272
Current Communities | Avalon Mission Oaks
Initial Cost
Land and improvements	9,600
Building / Construction in Progress & Improvements	34,540
Costs Subsequent to Acquisition / Construction	2,889
Total Cost
Land	9,600
Building / Construction in Progress & Improvements	37,429
Total	47,029
Accumulated Depreciation	2,606
Total Cost, Net of Accumulated Depreciation	44,423	46,907
Current Communities | Oakwood Toluca Hills [Member]
Initial Cost
Land and improvements	85,450
Building / Construction in Progress & Improvements	161,256
Costs Subsequent to Acquisition / Construction	11,171
Total Cost
Land	85,450
Building / Construction in Progress & Improvements	172,427
Total	257,877
Accumulated Depreciation	26,708
Total Cost, Net of Accumulated Depreciation	231,169	236,149
Current Communities | Archstone Lexington
Initial Cost
Land and improvements	4,540
Building / Construction in Progress & Improvements	25,946
Costs Subsequent to Acquisition / Construction	1,863
Total Cost
Land	4,540
Building / Construction in Progress & Improvements	27,809
Total	32,349
Accumulated Depreciation	4,643
Total Cost, Net of Accumulated Depreciation	27,706	28,758
Encumbrances	16,255
Current Communities | Archstone Toscano
Initial Cost
Land and improvements	15,607
Building / Construction in Progress & Improvements	72,365
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	15,607
Building / Construction in Progress & Improvements	72,365
Total	87,972
Accumulated Depreciation	5,817
Total Cost, Net of Accumulated Depreciation	82,155	84,442
Current Communities | Memorial Heights Villages
Initial Cost
Land and improvements	9,607
Building / Construction in Progress & Improvements	42,936
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	9,607
Building / Construction in Progress & Improvements	42,936
Total	52,543
Accumulated Depreciation	2,232
Total Cost, Net of Accumulated Depreciation	50,311	51,047
Current Communities | Avalon AVA Assembly Row/AVA Somerville
Initial Cost
Land and improvements	8,504
Building / Construction in Progress & Improvements	0
Costs Subsequent to Acquisition / Construction	47,432
Total Cost
Land	8,504
Building / Construction in Progress & Improvements	47,432
Total	55,936
Accumulated Depreciation	2,179
Total Cost, Net of Accumulated Depreciation	53,757	56,158
Current Communities | Avalon Framingham
Initial Cost
Land and improvements	9,303
Building / Construction in Progress & Improvements	34,004
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	9,303
Building / Construction in Progress & Improvements	34,004
Total	43,307
Accumulated Depreciation	206
Total Cost, Net of Accumulated Depreciation	43,101	18,335
Current Communities | Avalon Wharton
Initial Cost
Land and improvements	2,273
Building / Construction in Progress & Improvements	48,504
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	2,273
Building / Construction in Progress & Improvements	48,504
Total	50,777
Accumulated Depreciation	1,698
Total Cost, Net of Accumulated Depreciation	49,079	48,531
Current Communities | AVA Little Tokyo
Initial Cost
Land and improvements	14,734
Building / Construction in Progress & Improvements	93,470
Costs Subsequent to Acquisition / Construction	222
Total Cost
Land	14,734
Building / Construction in Progress & Improvements	93,692
Total	108,426
Accumulated Depreciation	3,630
Total Cost, Net of Accumulated Depreciation	104,796	105,404
Current Communities | AVA Theater District
Initial Cost
Land and improvements	17,014
Building / Construction in Progress & Improvements	160,167
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	17,014
Building / Construction in Progress & Improvements	160,167
Total	177,181
Accumulated Depreciation	1,924
Total Cost, Net of Accumulated Depreciation	175,257	133,082
Current Communities | Avalon Marlborough
Initial Cost
Land and improvements	15,312
Building / Construction in Progress & Improvements	59,079
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	15,312
Building / Construction in Progress & Improvements	59,079
Total	74,391
Accumulated Depreciation	931
Total Cost, Net of Accumulated Depreciation	73,460	46,903
Current Communities | Avalon Vista
Initial Cost
Land and improvements	12,686
Building / Construction in Progress & Improvements	42,661
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	12,686
Building / Construction in Progress & Improvements	42,661
Total	55,347
Accumulated Depreciation	888
Total Cost, Net of Accumulated Depreciation	54,459	36,630
Current Communities | Avalon Bloomfield Station
Initial Cost
Land and improvements	10,695
Building / Construction in Progress & Improvements	39,897
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	10,695
Building / Construction in Progress & Improvements	39,897
Total	50,592
Accumulated Depreciation	624
Total Cost, Net of Accumulated Depreciation	49,968	29,680
Current Communities | Avalon Alderwood I
Initial Cost
Land and improvements	12,294
Building / Construction in Progress & Improvements	55,423
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	12,294
Building / Construction in Progress & Improvements	55,423
Total	67,717
Accumulated Depreciation	2,470
Total Cost, Net of Accumulated Depreciation	65,247	65,614
Current Communities | Avalon Hayes Valley
Initial Cost
Land and improvements	12,594
Building / Construction in Progress & Improvements	79,800
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	12,594
Building / Construction in Progress & Improvements	79,800
Total	92,394
Accumulated Depreciation	1,992
Total Cost, Net of Accumulated Depreciation	90,402	79,572
Current Communities | Avalon Baker Ranch
Initial Cost
Land and improvements	31,687
Building / Construction in Progress & Improvements	97,419
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	31,687
Building / Construction in Progress & Improvements	97,419
Total	129,106
Accumulated Depreciation	2,181
Total Cost, Net of Accumulated Depreciation	126,925	110,748
Current Communities | Avalon Roseland
Initial Cost
Land and improvements	11,265
Building / Construction in Progress & Improvements	34,504
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	11,265
Building / Construction in Progress & Improvements	34,504
Total	45,769
Accumulated Depreciation	753
Total Cost, Net of Accumulated Depreciation	45,016	33,143
Current Communities | Avalon West Chelsea [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	119,361
Costs Subsequent to Acquisition / Construction	0
Total Cost
Land	0
Building / Construction in Progress & Improvements	119,361
Total	119,361
Accumulated Depreciation	10,341
Total Cost, Net of Accumulated Depreciation	109,020	117,562
Current Communities | Avalon Run East [Member]
Initial Cost
Land and improvements	6,766
Building / Construction in Progress & Improvements	45,366
Costs Subsequent to Acquisition / Construction	1,107
Total Cost
Land	6,766
Building / Construction in Progress & Improvements	46,473
Total	53,239
Accumulated Depreciation	17,909
Total Cost, Net of Accumulated Depreciation	35,330	36,765
Encumbrances	36,904
Oakland - East Bay, CA [Member]
Initial Cost
Land and improvements	105,428
Building / Construction in Progress & Improvements	522,830
Costs Subsequent to Acquisition / Construction	57,276
Total Cost
Land	105,428
Building / Construction in Progress & Improvements	580,106
Total	685,534
Accumulated Depreciation	170,972
Total Cost, Net of Accumulated Depreciation	514,562	527,068
Encumbrances	137,789
Boston, MA [Member]
Initial Cost
Land and improvements	161,696
Building / Construction in Progress & Improvements	750,728
Costs Subsequent to Acquisition / Construction	135,392
Total Cost
Land	161,696
Building / Construction in Progress & Improvements	886,120
Total	1,047,816
Accumulated Depreciation	287,744
Total Cost, Net of Accumulated Depreciation	760,072	766,204
Encumbrances	150,404
Development Communities [Member]
Initial Cost
Land and improvements	63,934
Building / Construction in Progress & Improvements	171,956
Costs Subsequent to Acquisition / Construction	1,458,348
Total Cost
Land	63,934
Building / Construction in Progress & Improvements	1,630,304
Total	1,694,238
Accumulated Depreciation	1,690
Total Cost, Net of Accumulated Depreciation	1,692,548	740,315
Encumbrances	0
Development Communities [Member] | Avalon Glendora [Member]
Initial Cost
Land and improvements	10,530
Building / Construction in Progress & Improvements	37,448
Costs Subsequent to Acquisition / Construction	34,090
Total Cost
Land	10,530
Building / Construction in Progress & Improvements	71,538
Total	82,068
Accumulated Depreciation	338
Total Cost, Net of Accumulated Depreciation	81,730	52,146
Development Communities [Member] | Avalon North Station
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	117
Costs Subsequent to Acquisition / Construction	142,794
Total Cost
Land	0
Building / Construction in Progress & Improvements	142,911
Total	142,911
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	142,911	46,268
Development Communities [Member] | Avalon Quincy [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	40
Costs Subsequent to Acquisition / Construction	34,458
Total Cost
Land	0
Building / Construction in Progress & Improvements	34,498
Total	34,498
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	34,498
Development Communities [Member] | AVA Wheaton [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	144
Costs Subsequent to Acquisition / Construction	18,151
Total Cost
Land	0
Building / Construction in Progress & Improvements	18,295
Total	18,295
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	18,295	14,347
Development Communities [Member] | Avalon Hunt Valley [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	310
Costs Subsequent to Acquisition / Construction	28,920
Total Cost
Land	0
Building / Construction in Progress & Improvements	29,230
Total	29,230
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	29,230
Development Communities [Member] | Avalon Laurel [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	220
Costs Subsequent to Acquisition / Construction	30,788
Total Cost
Land	0
Building / Construction in Progress & Improvements	31,008
Total	31,008
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	31,008
Development Communities [Member] | Avalon West Hollywood
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	0
Costs Subsequent to Acquisition / Construction	93,676
Total Cost
Land	0
Building / Construction in Progress & Improvements	93,676
Total	93,676
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	93,676	58,128
Development Communities [Member] | Avalon Chino Hills [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	72
Costs Subsequent to Acquisition / Construction	24,567
Total Cost
Land	0
Building / Construction in Progress & Improvements	24,639
Total	24,639
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	24,639
Development Communities [Member] | Avalon Dogpatch [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	182
Costs Subsequent to Acquisition / Construction	62,124
Total Cost
Land	0
Building / Construction in Progress & Improvements	62,306
Total	62,306
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	62,306
Development Communities [Member] | Avalon Dublin Station II
Initial Cost
Land and improvements	1,848
Building / Construction in Progress & Improvements	18,949
Costs Subsequent to Acquisition / Construction	59,948
Total Cost
Land	1,848
Building / Construction in Progress & Improvements	78,897
Total	80,745
Accumulated Depreciation	54
Total Cost, Net of Accumulated Depreciation	80,691	43,422
Development Communities [Member] | Avalon Green III
Initial Cost
Land and improvements	2,786
Building / Construction in Progress & Improvements	9,674
Costs Subsequent to Acquisition / Construction	8,689
Total Cost
Land	2,786
Building / Construction in Progress & Improvements	18,363
Total	21,149
Accumulated Depreciation	46
Total Cost, Net of Accumulated Depreciation	21,103	1,447
Development Communities [Member] | Avalon Great Neck [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	69
Costs Subsequent to Acquisition / Construction	26,168
Total Cost
Land	0
Building / Construction in Progress & Improvements	26,237
Total	26,237
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	26,237
Development Communities [Member] | Sheepshead Bay [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	104
Costs Subsequent to Acquisition / Construction	20,290
Total Cost
Land	0
Building / Construction in Progress & Improvements	20,394
Total	20,394
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	20,394
Development Communities [Member] | Avalon Rockville Centre II [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	0
Costs Subsequent to Acquisition / Construction	11,302
Total Cost
Land	0
Building / Construction in Progress & Improvements	11,302
Total	11,302
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	11,302
Development Communities [Member] | Avalon Willoughby Square/AVA DoBro
Initial Cost
Land and improvements	9,145
Building / Construction in Progress & Improvements	25,827
Costs Subsequent to Acquisition / Construction	373,975
Total Cost
Land	9,145
Building / Construction in Progress & Improvements	399,802
Total	408,947
Accumulated Depreciation	135
Total Cost, Net of Accumulated Depreciation	408,812	266,318
Development Communities [Member] | AVA Capitol Hill
Initial Cost
Land and improvements	4,139
Building / Construction in Progress & Improvements	13,031
Costs Subsequent to Acquisition / Construction	61,910
Total Cost
Land	4,139
Building / Construction in Progress & Improvements	74,941
Total	79,080
Accumulated Depreciation	72
Total Cost, Net of Accumulated Depreciation	79,008	39,870
Development Communities [Member] | Avalon Esterra Park
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	179
Costs Subsequent to Acquisition / Construction	84,249
Total Cost
Land	0
Building / Construction in Progress & Improvements	84,428
Total	84,428
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	84,428	33,523
Development Communities [Member] | Avalon Alderwood II [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	0
Costs Subsequent to Acquisition / Construction	14,264
Total Cost
Land	0
Building / Construction in Progress & Improvements	14,264
Total	14,264
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	14,264
Development Communities [Member] | Avalon Irvine III
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	774
Costs Subsequent to Acquisition / Construction	51,534
Total Cost
Land	0
Building / Construction in Progress & Improvements	52,308
Total	52,308
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	52,308	26,303
Development Communities [Member] | Avalon Huntington Beach
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	981
Costs Subsequent to Acquisition / Construction	87,648
Total Cost
Land	0
Building / Construction in Progress & Improvements	88,629
Total	88,629
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	88,629	40,739
Development Communities [Member] | AVA NoMa [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	211
Costs Subsequent to Acquisition / Construction	47,583
Total Cost
Land	0
Building / Construction in Progress & Improvements	47,794
Total	47,794
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	47,794
Development Communities [Member] | Avalon Falls Church
Initial Cost
Land and improvements	35,018
Building / Construction in Progress & Improvements	61,217
Costs Subsequent to Acquisition / Construction	8,243
Total Cost
Land	35,018
Building / Construction in Progress & Improvements	69,460
Total	104,478
Accumulated Depreciation	1,040
Total Cost, Net of Accumulated Depreciation	103,438	69,631
Development Communities [Member] | Avalon Princeton
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	202
Costs Subsequent to Acquisition / Construction	49,869
Total Cost
Land	0
Building / Construction in Progress & Improvements	50,071
Total	50,071
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	50,071	35,456
Development Communities [Member] | Avalon Union
Initial Cost
Land and improvements	468
Building / Construction in Progress & Improvements	2,126
Costs Subsequent to Acquisition / Construction	36,867
Total Cost
Land	468
Building / Construction in Progress & Improvements	38,993
Total	39,461
Accumulated Depreciation	5
Total Cost, Net of Accumulated Depreciation	39,456	12,717
Development Communities [Member] | Avalon Maplewood [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	79
Costs Subsequent to Acquisition / Construction	19,101
Total Cost
Land	0
Building / Construction in Progress & Improvements	19,180
Total	19,180
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	19,180
Development Communities [Member] | Avalon Newcastle I [Member]
Initial Cost
Land and improvements	0
Building / Construction in Progress & Improvements	0
Costs Subsequent to Acquisition / Construction	27,140
Total Cost
Land	0
Building / Construction in Progress & Improvements	27,140
Total	27,140
Accumulated Depreciation	0
Total Cost, Net of Accumulated Depreciation	27,140
San Diego, CA [Member]
Initial Cost
Land and improvements	44,564
Building / Construction in Progress & Improvements	145,040
Costs Subsequent to Acquisition / Construction	39,616
Total Cost
Land	44,564
Building / Construction in Progress & Improvements	184,656
Total	229,220
Accumulated Depreciation	56,473
Total Cost, Net of Accumulated Depreciation	172,747	178,928
Encumbrances	0
Southern California
Initial Cost
Land and improvements	583,757
Building / Construction in Progress & Improvements	1,653,919
Costs Subsequent to Acquisition / Construction	227,756
Total Cost
Land	583,757
Building / Construction in Progress & Improvements	1,881,675
Total	2,465,432
Accumulated Depreciation	455,496
Total Cost, Net of Accumulated Depreciation	2,009,936	2,068,578
Encumbrances	459,592
Orange County, CA [Member]
Initial Cost
Land and improvements	112,811
Building / Construction in Progress & Improvements	364,509
Costs Subsequent to Acquisition / Construction	53,898
Total Cost
Land	112,811
Building / Construction in Progress & Improvements	418,407
Total	531,218
Accumulated Depreciation	115,054
Total Cost, Net of Accumulated Depreciation	416,164	430,155
Encumbrances	7,635
San Francisco, CA [Member]
Initial Cost
Land and improvements	184,009
Building / Construction in Progress & Improvements	569,822
Costs Subsequent to Acquisition / Construction	96,682
Total Cost
Land	184,009
Building / Construction in Progress & Improvements	666,504
Total	850,513
Accumulated Depreciation	214,893
Total Cost, Net of Accumulated Depreciation	635,620	657,581
Encumbrances	257,904
Oakland - East Bay, CA [Member]
Initial Cost
Land and improvements	426,382
Building / Construction in Progress & Improvements	1,144,370
Costs Subsequent to Acquisition / Construction	134,242
Total Cost
Land	426,382
Building / Construction in Progress & Improvements	1,278,612
Total	1,704,994
Accumulated Depreciation	283,969
Total Cost, Net of Accumulated Depreciation	1,421,025	1,459,495
Encumbrances	451,957
New Jersey [Member]
Initial Cost
Land and improvements	255,969
Building / Construction in Progress & Improvements	558,832
Costs Subsequent to Acquisition / Construction	63,336
Total Cost
Land	255,969
Building / Construction in Progress & Improvements	622,168
Total	878,137
Accumulated Depreciation	213,323
Total Cost, Net of Accumulated Depreciation	664,814	685,991
Encumbrances	182,346
New York - Suburban [Member]
Initial Cost
Land and improvements	213,772
Building / Construction in Progress & Improvements	740,234
Costs Subsequent to Acquisition / Construction	35,890
Total Cost
Land	213,772
Building / Construction in Progress & Improvements	776,124
Total	989,896
Accumulated Depreciation	249,849
Total Cost, Net of Accumulated Depreciation	740,047	763,070
Encumbrances	143,454
Fairfield-New Haven, CT [Member]
Initial Cost
Land and improvements	70,531
Building / Construction in Progress & Improvements	312,764
Costs Subsequent to Acquisition / Construction	29,635
Total Cost
Land	70,531
Building / Construction in Progress & Improvements	342,399
Total	412,930
Accumulated Depreciation	127,467
Total Cost, Net of Accumulated Depreciation	285,463	294,748
Encumbrances	0
Boston, MA [Member]
Initial Cost
Land and improvements	420,939
Building / Construction in Progress & Improvements	1,089,328
Costs Subsequent to Acquisition / Construction	41,968
Total Cost
Land	420,939
Building / Construction in Progress & Improvements	1,131,296
Total	1,552,235
Accumulated Depreciation	261,986
Total Cost, Net of Accumulated Depreciation	1,290,249	1,323,113
Encumbrances	562,800
Land Held for Development
Initial Cost
Land and improvements	484,377
Total Cost
Land	484,377
Total	484,377
Total Cost, Net of Accumulated Depreciation	484,377	180,516
Corporate overhead
Initial Cost
Land and improvements	39,371
Building / Construction in Progress & Improvements	29,535
Costs Subsequent to Acquisition / Construction	66,286
Total Cost
Land	39,371
Building / Construction in Progress & Improvements	95,821
Total	135,192
Accumulated Depreciation	53,368
Total Cost, Net of Accumulated Depreciation	81,824	41,940
Encumbrances	3,875,000
Lease-Up Communities [Member]
Initial Cost
Land and improvements	240,228
Building / Construction in Progress & Improvements	1,179,559
Costs Subsequent to Acquisition / Construction	61,180
Total Cost
Land	240,228
Building / Construction in Progress & Improvements	1,240,739
Total	1,480,967
Accumulated Depreciation	48,506
Total Cost, Net of Accumulated Depreciation	1,432,461	1,281,832
Encumbrances	0
Metro NY/NJ
Initial Cost
Land and improvements	722,066
Building / Construction in Progress & Improvements	2,295,871
Costs Subsequent to Acquisition / Construction	134,424
Total Cost
Land	722,066
Building / Construction in Progress & Improvements	2,430,295
Total	3,152,361
Accumulated Depreciation	699,467
Total Cost, Net of Accumulated Depreciation	2,452,894	2,523,804
Encumbrances	$ 777,599
Building [Member]
Real Estate and Accumulated Depreciation
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	30 years
Improvements Upgrades Furniture, Fixtures and Equipment [Member]
Real Estate and Accumulated Depreciation
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	7 years
Avalon Valley [Member]
Total Cost
Total Cost, Net of Accumulated Depreciation		$ 160,416