XML 43 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Mortgage Notes Payable, Unsecured Notes and Credit Facility (Details 2) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2018
Apr. 30, 2018
Mar. 31, 2018
Feb. 28, 2018
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Notes Payable, Unsecured Notes and Credit Facility                  
Loss on extinguishment of debt, net         $ 642,000 $ 24,162,000 $ 1,039,000 $ 24,162,000  
Credit Facility $ 0       0   0   $ 0
Net carrying value of apartment communities and improved land parcels securing debt 2,210,958,000       2,210,958,000   2,210,958,000    
Mortgage notes payable                  
Notes Payable, Unsecured Notes and Credit Facility                  
Mortgage notes payable held by wholly owned subsidiaries guaranteed by the Company 100,000,000       100,000,000   100,000,000    
Unsecured Notes 4.35 Percent [Member]                  
Notes Payable, Unsecured Notes and Credit Facility                  
Debt instrument, face amount     $ 300,000,000            
Proceeds from issuance of debt     $ 296,210,000            
Unsecured Notes 3.97 Percent First 10 Years [Member] | Unsecured notes                  
Notes Payable, Unsecured Notes and Credit Facility                  
Debt Instrument, Term     10 years            
Current interest rate (as a percent)     3.97%            
Unsecured Notes 4.39 Percent Remaining 20 Years [Member] | Unsecured notes                  
Notes Payable, Unsecured Notes and Credit Facility                  
Current interest rate (as a percent)     4.39%            
Line of Credit [Member]                  
Notes Payable, Unsecured Notes and Credit Facility                  
Available borrowing capacity 1,500,000,000       1,500,000,000   $ 1,500,000,000    
Line of credit facility, extension period             9 months    
Extension fee             $ 1,500,000    
Period of borrowing rate assumed             1 month    
Annual facility fee, percentage             0.125%    
Annual facility fee             $ 1,875,000    
Credit Facility 0       0   0   0
Outstanding balance of letters of credit $ 42,652,000       $ 42,652,000   $ 42,652,000   $ 47,315,000
Line of Credit [Member] | LIBOR                  
Notes Payable, Unsecured Notes and Credit Facility                  
Debt instrument, basis spread on variable rate (as a percent)             0.825%    
Current interest rate (as a percent) 2.92%       2.92%   2.92%    
Notes Payable Maturities 2043 [Member] | Mortgage notes payable                  
Notes Payable, Unsecured Notes and Credit Facility                  
Repayments of secured mortgages       $ 15,174,000          
Stated interest rate of unsecured notes (as a percent)       6.60%          
Loss on extinguishment of debt, net       $ (426,000)          
Prepayment penalty       152,000          
Write off of deferred debt issuance cost       274,000          
Notes Payable Maturities 2018 | Mortgage notes payable                  
Notes Payable, Unsecured Notes and Credit Facility                  
Repayments of secured mortgages   $ 13,380,000   $ 11,038,000          
Stated interest rate of unsecured notes (as a percent)   3.06%   4.61%          
Notes Payable Maturities 2033 [Member] | Mortgage notes payable                  
Notes Payable, Unsecured Notes and Credit Facility                  
Repayments of secured mortgages $ 15,295,000                
Stated interest rate of unsecured notes (as a percent) 6.90%       6.90%   6.90%    
Loss on extinguishment of debt, net $ (635,000)                
Prepayment penalty 282,000                
Write off of deferred debt issuance cost $ 353,000                
Unsecured Notes 4.35 Percent [Member] | Unsecured notes                  
Notes Payable, Unsecured Notes and Credit Facility                  
Stated interest rate of unsecured notes (as a percent)     4.35%            
Fixed Rate Mortgage Notes Payable [Member]                  
Notes Payable, Unsecured Notes and Credit Facility                  
Weighted average interest rate, debt (as a percent) 3.80%       3.80%   3.80%   4.00%
Variable Rate Mortgage Notes Payable Unsecured Term Loan and Credit Facility [Member]                  
Notes Payable, Unsecured Notes and Credit Facility                  
Weighted average interest rate, debt (as a percent) 3.20%       3.20%   3.20%   3.20%