Real Estate Disposition Activities (Tables)

12 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Details regarding the real estate sales

Details regarding the real estate sales are summarized in the following table (dollars in thousands):

Community Name	Location	Period of sale	Apartment homes	Debt		Gross sales price		Net cash proceeds (1)
Eaves Trumbull	Trumbull, CT	Q116	340	$	—	$	70,250	$	68,665
Avalon Essex	Peabody, MA	Q216	154	—		45,100		44,085
Eaves Nanuet	Nanuet, NY	Q316	504	—		147,000		145,722
Avalon Shrewsbury	Shrewsbury, MA	Q316	251	—		60,500		59,263
Avalon at Freehold	Freehold, NJ	Q316	296	—		68,000		66,320
Avalon Brandemoor I & II	Lynnwood, WA	Q416	506	—		132,000		128,021
Other real estate dispositions (2)	multiple	Q1-Q416	N/A	—		41,178		20,641
Total of 2016 asset sales			2,051	$	—	$	564,028	$	532,717
Total of 2015 asset sales			851	$	—	$	289,320	$	282,163
Total of 2014 asset sales			1,337	$	16,341	$	304,250	$	281,125

_________________________________

(1) Net cash proceeds does not include the sale of an affordable restricted apartment building adjacent to one of the Company's Development Communities, for which consideration was received in the form of a mortgage note, discussed below.

(2) Primarily composed of the sales of land to AVA North Point discussed in Note 5, “Investments in Real Estate Entities” and ancillary real estate discussed in note (1).

Summary of income from discontinued operations

The following is a summary of income from discontinued operations for the periods presented (dollars in thousands):

	For the year ended
	12/31/16		12/31/15		12/31/14
Rental income	$	—	$	—	$	579
Operating and other expenses	—		—		(269		)
Income from discontinued operations	$	—	$	—	$	310