Mortgage Notes Payable, Unsecured Notes and Credit Facility (Tables)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Summary of company's mortgage notes payable, unsecured notes and Credit Facility excluding mortgage notes secured by communities classified as held for sale

The following amounts and discussion do not include the mortgage notes related to the communities classified as held for sale, if any, as of March 31, 2017 and December 31, 2016, as shown in the accompanying Condensed Consolidated Balance Sheets (dollars in thousands) (see Note 6, "Real Estate Disposition Activities").

	3/31/2017		12/31/2016
Fixed rate unsecured notes (1)	$	4,200,000	$	4,200,000
Term Loans (1)	300,000		300,000
Fixed rate mortgage notes payable - conventional and tax-exempt (2)	1,664,650		1,668,496
Variable rate mortgage notes payable - conventional and tax-exempt (2)	890,202		908,262
Total mortgage notes payable and unsecured notes	7,054,852		7,076,758
Credit Facility	—		—
Total mortgage notes payable, unsecured notes and Credit Facility	$	7,054,852	$	7,076,758

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(1) Balances at March 31, 2017 and December 31, 2016 exclude $8,640 and $8,930, respectively, of debt discount, and $26,814 and $27,768, respectively, of deferred financing costs, as reflected in unsecured notes, net on the accompanying Condensed Consolidated Balance Sheets.

(2) Balances at March 31, 2017 and December 31, 2016 exclude $3,044 of debt discount and $1,866 of debt premium, respectively, and $10,625 and $11,046, respectively, of deferred financing costs, as reflected in mortgage notes payable on the accompanying Condensed Consolidated Balance Sheets.

Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding

Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding at March 31, 2017 are as follows (dollars in thousands):

Year	Secured notes payments		Secured notes maturities		Unsecured notes maturities		Stated interest rate of unsecured notes
2017	13,954		692,191		—		N/A
2018	17,789		76,667		—		N/A
2019	4,696		655,514		—		N/A
2020	3,624		118,729		250,000		6.100	%
					400,000		3.625	%
2021	3,551		27,844		250,000		3.950	%
					300,000		LIBOR + 1.450%
2022	3,795		—		450,000		2.950	%
2023	4,040		—		350,000		4.200	%
					250,000		2.850	%
2024	4,310		—		300,000		3.500	%
2025	4,585		84,835		525,000		3.450	%
					300,000		3.500	%
2026	4,894		—		475,000		2.950	%
					300,000		2.900	%
Thereafter	213,754		620,080		350,000		3.900	%
	$	278,992	$	2,275,860	$	4,500,000