REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012
Initial Cost
Land	$ 1,768,492
Building/Construction in Progress & Improvements	6,805,370
Costs Subsequent to Acquisition/Construction	1,497,480
Total Cost
Land	1,768,492
Building/Construction in Progress & Improvements	8,302,850
Total Cost	10,071,342
Accumulated Depreciation	2,056,222
Total Cost, Net of Accumulated Depreciation	8,015,120
Encumbrances	3,854,068
Current Communities
Initial Cost
Land	1,394,717
Building/Construction in Progress & Improvements	6,686,252
Costs Subsequent to Acquisition/Construction	680,021
Total Cost
Land	1,394,717
Building/Construction in Progress & Improvements	7,366,273
Total Cost	8,760,990
Accumulated Depreciation	2,015,449
Total Cost, Net of Accumulated Depreciation	6,745,541
Encumbrances	1,898,603
Current Communities | Avalon Fremont
Initial Cost
Land	10,746
Building/Construction in Progress & Improvements	43,399
Costs Subsequent to Acquisition/Construction	4,765
Total Cost
Land	10,746
Building/Construction in Progress & Improvements	48,164
Total Cost	58,910
Accumulated Depreciation	24,409
Total Cost, Net of Accumulated Depreciation	34,501
Current Communities | Eaves Dublin
Initial Cost
Land	5,276
Building/Construction in Progress & Improvements	19,642
Costs Subsequent to Acquisition/Construction	4,411
Total Cost
Land	5,276
Building/Construction in Progress & Improvements	24,053
Total Cost	29,329
Accumulated Depreciation	12,263
Total Cost, Net of Accumulated Depreciation	17,066
Current Communities | Avalon Campbell
Initial Cost
Land	11,830
Building/Construction in Progress & Improvements	47,828
Costs Subsequent to Acquisition/Construction	1,897
Total Cost
Land	11,830
Building/Construction in Progress & Improvements	49,725
Total Cost	61,555
Accumulated Depreciation	24,454
Total Cost, Net of Accumulated Depreciation	37,101
Encumbrances	38,800
Current Communities | Eaves Daly City
Initial Cost
Land	4,230
Building/Construction in Progress & Improvements	9,659
Costs Subsequent to Acquisition/Construction	18,547
Total Cost
Land	4,230
Building/Construction in Progress & Improvements	28,206
Total Cost	32,436
Accumulated Depreciation	12,710
Total Cost, Net of Accumulated Depreciation	19,726
Current Communities | AVA Nob Hill
Initial Cost
Land	5,403
Building/Construction in Progress & Improvements	21,567
Costs Subsequent to Acquisition/Construction	6,858
Total Cost
Land	5,403
Building/Construction in Progress & Improvements	28,425
Total Cost	33,828
Accumulated Depreciation	12,017
Total Cost, Net of Accumulated Depreciation	21,811
Encumbrances	20,800
Current Communities | Eaves San Jose
Initial Cost
Land	12,920
Building/Construction in Progress & Improvements	53,047
Costs Subsequent to Acquisition/Construction	15,717
Total Cost
Land	12,920
Building/Construction in Progress & Improvements	68,764
Total Cost	81,684
Accumulated Depreciation	23,666
Total Cost, Net of Accumulated Depreciation	58,018
Current Communities | Eaves San Rafael
Initial Cost
Land	5,982
Building/Construction in Progress & Improvements	16,885
Costs Subsequent to Acquisition/Construction	23,641
Total Cost
Land	5,982
Building/Construction in Progress & Improvements	40,526
Total Cost	46,508
Accumulated Depreciation	15,298
Total Cost, Net of Accumulated Depreciation	31,210
Current Communities | Eaves Pleasanton
Initial Cost
Land	11,610
Building/Construction in Progress & Improvements	46,552
Costs Subsequent to Acquisition/Construction	21,261
Total Cost
Land	11,610
Building/Construction in Progress & Improvements	67,813
Total Cost	79,423
Accumulated Depreciation	28,556
Total Cost, Net of Accumulated Depreciation	50,867
Current Communities | AVA Newport
Initial Cost
Land	1,975
Building/Construction in Progress & Improvements	3,814
Costs Subsequent to Acquisition/Construction	9,327
Total Cost
Land	1,975
Building/Construction in Progress & Improvements	13,141
Total Cost	15,116
Accumulated Depreciation	4,474
Total Cost, Net of Accumulated Depreciation	10,642
Current Communities | Avalon at Media Center
Initial Cost
Land	22,483
Building/Construction in Progress & Improvements	28,104
Costs Subsequent to Acquisition/Construction	28,894
Total Cost
Land	22,483
Building/Construction in Progress & Improvements	56,998
Total Cost	79,481
Accumulated Depreciation	27,007
Total Cost, Net of Accumulated Depreciation	52,474
Current Communities | Avalon Mission Viejo
Initial Cost
Land	2,517
Building/Construction in Progress & Improvements	9,257
Costs Subsequent to Acquisition/Construction	2,438
Total Cost
Land	2,517
Building/Construction in Progress & Improvements	11,695
Total Cost	14,212
Accumulated Depreciation	6,368
Total Cost, Net of Accumulated Depreciation	7,844
Encumbrances	7,635
Current Communities | Eaves South Coast
Initial Cost
Land	4,709
Building/Construction in Progress & Improvements	16,063
Costs Subsequent to Acquisition/Construction	12,742
Total Cost
Land	4,709
Building/Construction in Progress & Improvements	28,805
Total Cost	33,514
Accumulated Depreciation	11,822
Total Cost, Net of Accumulated Depreciation	21,692
Current Communities | Avalon at Mission Bay
Initial Cost
Land	9,922
Building/Construction in Progress & Improvements	40,580
Costs Subsequent to Acquisition/Construction	17,595
Total Cost
Land	9,922
Building/Construction in Progress & Improvements	58,175
Total Cost	68,097
Accumulated Depreciation	28,026
Total Cost, Net of Accumulated Depreciation	40,071
Current Communities | Eaves Mission Ridge
Initial Cost
Land	2,710
Building/Construction in Progress & Improvements	10,924
Costs Subsequent to Acquisition/Construction	10,879
Total Cost
Land	2,710
Building/Construction in Progress & Improvements	21,803
Total Cost	24,513
Accumulated Depreciation	10,696
Total Cost, Net of Accumulated Depreciation	13,817
Current Communities | Eaves Union City
Initial Cost
Land	4,249
Building/Construction in Progress & Improvements	16,820
Costs Subsequent to Acquisition/Construction	2,717
Total Cost
Land	4,249
Building/Construction in Progress & Improvements	19,537
Total Cost	23,786
Accumulated Depreciation	9,870
Total Cost, Net of Accumulated Depreciation	13,916
Current Communities | Avalon on the Alameda
Initial Cost
Land	6,119
Building/Construction in Progress & Improvements	50,225
Costs Subsequent to Acquisition/Construction	1,550
Total Cost
Land	6,119
Building/Construction in Progress & Improvements	51,775
Total Cost	57,894
Accumulated Depreciation	24,355
Total Cost, Net of Accumulated Depreciation	33,539
Encumbrances	52,975
Current Communities | Eaves Foster City
Initial Cost
Land	7,852
Building/Construction in Progress & Improvements	31,445
Costs Subsequent to Acquisition/Construction	11,157
Total Cost
Land	7,852
Building/Construction in Progress & Improvements	42,602
Total Cost	50,454
Accumulated Depreciation	18,142
Total Cost, Net of Accumulated Depreciation	32,312
Current Communities | Avalon Rosewalk
Initial Cost
Land	15,814
Building/Construction in Progress & Improvements	62,007
Costs Subsequent to Acquisition/Construction	3,116
Total Cost
Land	15,814
Building/Construction in Progress & Improvements	65,123
Total Cost	80,937
Accumulated Depreciation	32,066
Total Cost, Net of Accumulated Depreciation	48,871
Current Communities | Avalon Pacifica
Initial Cost
Land	6,125
Building/Construction in Progress & Improvements	24,796
Costs Subsequent to Acquisition/Construction	2,116
Total Cost
Land	6,125
Building/Construction in Progress & Improvements	26,912
Total Cost	33,037
Accumulated Depreciation	13,625
Total Cost, Net of Accumulated Depreciation	19,412
Encumbrances	17,600
Current Communities | Avalon Sunset Towers
Initial Cost
Land	3,561
Building/Construction in Progress & Improvements	21,321
Costs Subsequent to Acquisition/Construction	14,548
Total Cost
Land	3,561
Building/Construction in Progress & Improvements	35,869
Total Cost	39,430
Accumulated Depreciation	13,746
Total Cost, Net of Accumulated Depreciation	25,684
Current Communities | Avalon Silicon Valley
Initial Cost
Land	20,713
Building/Construction in Progress & Improvements	99,573
Costs Subsequent to Acquisition/Construction	4,737
Total Cost
Land	20,713
Building/Construction in Progress & Improvements	104,310
Total Cost	125,023
Accumulated Depreciation	51,965
Total Cost, Net of Accumulated Depreciation	73,058
Encumbrances	150,000
Current Communities | Avalon Woodland Hills
Initial Cost
Land	23,828
Building/Construction in Progress & Improvements	40,372
Costs Subsequent to Acquisition/Construction	46,688
Total Cost
Land	23,828
Building/Construction in Progress & Improvements	87,060
Total Cost	110,888
Accumulated Depreciation	30,308
Total Cost, Net of Accumulated Depreciation	80,580
Current Communities | Avalon Mountain View
Initial Cost
Land	9,755
Building/Construction in Progress & Improvements	39,393
Costs Subsequent to Acquisition/Construction	9,503
Total Cost
Land	9,755
Building/Construction in Progress & Improvements	48,896
Total Cost	58,651
Accumulated Depreciation	22,257
Total Cost, Net of Accumulated Depreciation	36,394
Encumbrances	18,300
Current Communities | Eaves Santa Margarita
Initial Cost
Land	4,607
Building/Construction in Progress & Improvements	16,911
Costs Subsequent to Acquisition/Construction	9,975
Total Cost
Land	4,607
Building/Construction in Progress & Improvements	26,886
Total Cost	31,493
Accumulated Depreciation	10,669
Total Cost, Net of Accumulated Depreciation	20,824
Current Communities | Eaves Diamond Heights
Initial Cost
Land	4,726
Building/Construction in Progress & Improvements	19,130
Costs Subsequent to Acquisition/Construction	5,745
Total Cost
Land	4,726
Building/Construction in Progress & Improvements	24,875
Total Cost	29,601
Accumulated Depreciation	11,330
Total Cost, Net of Accumulated Depreciation	18,271
Current Communities | Eaves Fremont
Initial Cost
Land	6,581
Building/Construction in Progress & Improvements	26,583
Costs Subsequent to Acquisition/Construction	9,729
Total Cost
Land	6,581
Building/Construction in Progress & Improvements	36,312
Total Cost	42,893
Accumulated Depreciation	16,702
Total Cost, Net of Accumulated Depreciation	26,191
Current Communities | Avalon at Creekside
Initial Cost
Land	6,546
Building/Construction in Progress & Improvements	26,263
Costs Subsequent to Acquisition/Construction	10,970
Total Cost
Land	6,546
Building/Construction in Progress & Improvements	37,233
Total Cost	43,779
Accumulated Depreciation	18,068
Total Cost, Net of Accumulated Depreciation	25,711
Current Communities | Eaves Warner Center
Initial Cost
Land	7,045
Building/Construction in Progress & Improvements	12,986
Costs Subsequent to Acquisition/Construction	9,050
Total Cost
Land	7,045
Building/Construction in Progress & Improvements	22,036
Total Cost	29,081
Accumulated Depreciation	11,338
Total Cost, Net of Accumulated Depreciation	17,743
Current Communities | Eaves Huntington Beach
Initial Cost
Land	4,871
Building/Construction in Progress & Improvements	19,745
Costs Subsequent to Acquisition/Construction	9,401
Total Cost
Land	4,871
Building/Construction in Progress & Improvements	29,146
Total Cost	34,017
Accumulated Depreciation	14,337
Total Cost, Net of Accumulated Depreciation	19,680
Current Communities | AVA Cortez Hill
Initial Cost
Land	2,768
Building/Construction in Progress & Improvements	20,134
Costs Subsequent to Acquisition/Construction	21,559
Total Cost
Land	2,768
Building/Construction in Progress & Improvements	41,693
Total Cost	44,461
Accumulated Depreciation	15,814
Total Cost, Net of Accumulated Depreciation	28,647
Current Communities | Avalon at Cahill Park
Initial Cost
Land	4,765
Building/Construction in Progress & Improvements	47,600
Costs Subsequent to Acquisition/Construction	629
Total Cost
Land	4,765
Building/Construction in Progress & Improvements	48,229
Total Cost	52,994
Accumulated Depreciation	17,458
Total Cost, Net of Accumulated Depreciation	35,536
Current Communities | Avalon Towers on the Peninsula
Initial Cost
Land	9,560
Building/Construction in Progress & Improvements	56,136
Costs Subsequent to Acquisition/Construction	808
Total Cost
Land	9,560
Building/Construction in Progress & Improvements	56,944
Total Cost	66,504
Accumulated Depreciation	21,185
Total Cost, Net of Accumulated Depreciation	45,319
Current Communities | Avalon at Mission Bay North
Initial Cost
Land	14,029
Building/Construction in Progress & Improvements	78,452
Costs Subsequent to Acquisition/Construction	1,884
Total Cost
Land	14,029
Building/Construction in Progress & Improvements	80,336
Total Cost	94,365
Accumulated Depreciation	27,409
Total Cost, Net of Accumulated Depreciation	66,956
Encumbrances	71,905
Current Communities | Avalon at Glendale
Initial Cost
Building/Construction in Progress & Improvements	41,434
Costs Subsequent to Acquisition/Construction	495
Total Cost
Building/Construction in Progress & Improvements	41,929
Total Cost	41,929
Accumulated Depreciation	13,580
Total Cost, Net of Accumulated Depreciation	28,349
Current Communities | Avalon Burbank
Initial Cost
Land	14,053
Building/Construction in Progress & Improvements	56,827
Costs Subsequent to Acquisition/Construction	23,762
Total Cost
Land	14,053
Building/Construction in Progress & Improvements	80,589
Total Cost	94,642
Accumulated Depreciation	23,588
Total Cost, Net of Accumulated Depreciation	71,054
Current Communities | Avalon Camarillo
Initial Cost
Land	8,446
Building/Construction in Progress & Improvements	40,290
Costs Subsequent to Acquisition/Construction	50
Total Cost
Land	8,446
Building/Construction in Progress & Improvements	40,340
Total Cost	48,786
Accumulated Depreciation	9,532
Total Cost, Net of Accumulated Depreciation	39,254
Current Communities | Avalon Wilshire
Initial Cost
Land	5,459
Building/Construction in Progress & Improvements	41,182
Costs Subsequent to Acquisition/Construction	623
Total Cost
Land	5,459
Building/Construction in Progress & Improvements	41,805
Total Cost	47,264
Accumulated Depreciation	8,268
Total Cost, Net of Accumulated Depreciation	38,996
Current Communities | Avalon at Dublin Station
Initial Cost
Land	10,058
Building/Construction in Progress & Improvements	74,297
Costs Subsequent to Acquisition/Construction	155
Total Cost
Land	10,058
Building/Construction in Progress & Improvements	74,452
Total Cost	84,510
Accumulated Depreciation	12,663
Total Cost, Net of Accumulated Depreciation	71,847
Current Communities | Avalon Encino
Initial Cost
Land	12,789
Building/Construction in Progress & Improvements	49,073
Costs Subsequent to Acquisition/Construction	356
Total Cost
Land	12,789
Building/Construction in Progress & Improvements	49,429
Total Cost	62,218
Accumulated Depreciation	7,266
Total Cost, Net of Accumulated Depreciation	54,952
Current Communities | Avalon Warner Place
Initial Cost
Land	7,920
Building/Construction in Progress & Improvements	44,855
Costs Subsequent to Acquisition/Construction	105
Total Cost
Land	7,920
Building/Construction in Progress & Improvements	44,960
Total Cost	52,880
Accumulated Depreciation	7,279
Total Cost, Net of Accumulated Depreciation	45,601
Current Communities | Avalon Fashion Valley
Initial Cost
Land	19,627
Building/Construction in Progress & Improvements	44,972
Costs Subsequent to Acquisition/Construction	168
Total Cost
Land	19,627
Building/Construction in Progress & Improvements	45,140
Total Cost	64,767
Accumulated Depreciation	6,607
Total Cost, Net of Accumulated Depreciation	58,160
Current Communities | Avalon Anaheim Stadium
Initial Cost
Land	27,874
Building/Construction in Progress & Improvements	69,156
Costs Subsequent to Acquisition/Construction	496
Total Cost
Land	27,874
Building/Construction in Progress & Improvements	69,652
Total Cost	97,526
Accumulated Depreciation	9,302
Total Cost, Net of Accumulated Depreciation	88,224
Current Communities | Avalon Union City
Initial Cost
Land	14,732
Building/Construction in Progress & Improvements	104,025
Costs Subsequent to Acquisition/Construction	117
Total Cost
Land	14,732
Building/Construction in Progress & Improvements	104,142
Total Cost	118,874
Accumulated Depreciation	12,384
Total Cost, Net of Accumulated Depreciation	106,490
Current Communities | Avalon Irvine
Initial Cost
Land	9,911
Building/Construction in Progress & Improvements	67,524
Costs Subsequent to Acquisition/Construction	5
Total Cost
Land	9,911
Building/Construction in Progress & Improvements	67,529
Total Cost	77,440
Accumulated Depreciation	7,693
Total Cost, Net of Accumulated Depreciation	69,747
Current Communities | Avalon at Mission Bay III
Initial Cost
Land	28,687
Building/Construction in Progress & Improvements	119,156
Costs Subsequent to Acquisition/Construction	27
Total Cost
Land	28,687
Building/Construction in Progress & Improvements	119,183
Total Cost	147,870
Accumulated Depreciation	14,241
Total Cost, Net of Accumulated Depreciation	133,629
Current Communities | Avalon Walnut Creek
Initial Cost
Building/Construction in Progress & Improvements	145,681
Costs Subsequent to Acquisition/Construction	570
Total Cost
Building/Construction in Progress & Improvements	146,251
Total Cost	146,251
Accumulated Depreciation	11,853
Total Cost, Net of Accumulated Depreciation	134,398
Encumbrances	137,500
Current Communities | Avalon Ocean Avenue
Initial Cost
Land	5,537
Building/Construction in Progress & Improvements	50,589
Costs Subsequent to Acquisition/Construction	1,713
Total Cost
Land	5,537
Building/Construction in Progress & Improvements	52,302
Total Cost	57,839
Accumulated Depreciation	1,012
Total Cost, Net of Accumulated Depreciation	56,827
Current Communities | Eaves Phillips Ranch
Initial Cost
Land	9,796
Building/Construction in Progress & Improvements	41,740
Total Cost
Land	9,796
Building/Construction in Progress & Improvements	41,740
Total Cost	51,536
Accumulated Depreciation	2,543
Total Cost, Net of Accumulated Depreciation	48,993
Encumbrances	53,348
Current Communities | Eaves San Dimas
Initial Cost
Land	1,916
Building/Construction in Progress & Improvements	7,820
Total Cost
Land	1,916
Building/Construction in Progress & Improvements	7,820
Total Cost	9,736
Accumulated Depreciation	481
Total Cost, Net of Accumulated Depreciation	9,255
Current Communities | Eaves San Dimas Canyon
Initial Cost
Land	2,953
Building/Construction in Progress & Improvements	12,429
Total Cost
Land	2,953
Building/Construction in Progress & Improvements	12,429
Total Cost	15,382
Accumulated Depreciation	759
Total Cost, Net of Accumulated Depreciation	14,623
Current Communities | Eaves San Marcos
Initial Cost
Land	3,277
Building/Construction in Progress & Improvements	13,385
Total Cost
Land	3,277
Building/Construction in Progress & Improvements	13,385
Total Cost	16,662
Accumulated Depreciation	826
Total Cost, Net of Accumulated Depreciation	15,836
Current Communities | Eaves Rancho Penasquitos
Initial Cost
Land	6,692
Building/Construction in Progress & Improvements	27,143
Total Cost
Land	6,692
Building/Construction in Progress & Improvements	27,143
Total Cost	33,835
Accumulated Depreciation	1,639
Total Cost, Net of Accumulated Depreciation	32,196
Current Communities | Eaves Lake Forest
Initial Cost
Land	5,199
Building/Construction in Progress & Improvements	21,135
Total Cost
Land	5,199
Building/Construction in Progress & Improvements	21,135
Total Cost	26,334
Accumulated Depreciation	1,285
Total Cost, Net of Accumulated Depreciation	25,049
Current Communities | The Mark Pasadena
Initial Cost
Land	8,400
Building/Construction in Progress & Improvements	11,547
Total Cost
Land	8,400
Building/Construction in Progress & Improvements	11,547
Total Cost	19,947
Accumulated Depreciation	347
Total Cost, Net of Accumulated Depreciation	19,600
Encumbrances	11,958
Current Communities | Eaves Cerritos
Initial Cost
Land	8,305
Building/Construction in Progress & Improvements	21,195
Total Cost
Land	8,305
Building/Construction in Progress & Improvements	21,195
Total Cost	29,500
Accumulated Depreciation	400
Total Cost, Net of Accumulated Depreciation	29,100
Current Communities | Avalon Del Rey
Initial Cost
Land	30,900
Building/Construction in Progress & Improvements	72,008
Costs Subsequent to Acquisition/Construction	99
Total Cost
Land	30,900
Building/Construction in Progress & Improvements	72,107
Total Cost	103,007
Accumulated Depreciation	1,038
Total Cost, Net of Accumulated Depreciation	101,969
Current Communities | The Springs
Initial Cost
Land	5,724
Building/Construction in Progress & Improvements	23,433
Costs Subsequent to Acquisition/Construction	868
Total Cost
Land	5,724
Building/Construction in Progress & Improvements	24,301
Total Cost	30,025
Accumulated Depreciation	2,121
Total Cost, Net of Accumulated Depreciation	27,904
Current Communities | Eaves Trumbull
Initial Cost
Land	4,414
Building/Construction in Progress & Improvements	31,268
Costs Subsequent to Acquisition/Construction	2,580
Total Cost
Land	4,414
Building/Construction in Progress & Improvements	33,848
Total Cost	38,262
Accumulated Depreciation	18,191
Total Cost, Net of Accumulated Depreciation	20,071
Encumbrances	40,552
Current Communities | Avalon Glen
Initial Cost
Land	5,956
Building/Construction in Progress & Improvements	23,993
Costs Subsequent to Acquisition/Construction	3,843
Total Cost
Land	5,956
Building/Construction in Progress & Improvements	27,836
Total Cost	33,792
Accumulated Depreciation	17,491
Total Cost, Net of Accumulated Depreciation	16,301
Current Communities | Avalon Wilton 1
Initial Cost
Land	2,116
Building/Construction in Progress & Improvements	14,664
Costs Subsequent to Acquisition/Construction	5,572
Total Cost
Land	2,116
Building/Construction in Progress & Improvements	20,236
Total Cost	22,352
Accumulated Depreciation	8,372
Total Cost, Net of Accumulated Depreciation	13,980
Current Communities | Avalon Valley
Initial Cost
Land	2,277
Building/Construction in Progress & Improvements	23,561
Costs Subsequent to Acquisition/Construction	779
Total Cost
Land	2,277
Building/Construction in Progress & Improvements	24,340
Total Cost	26,617
Accumulated Depreciation	11,417
Total Cost, Net of Accumulated Depreciation	15,200
Current Communities | Avalon on Stamford Harbor
Initial Cost
Land	10,836
Building/Construction in Progress & Improvements	51,989
Costs Subsequent to Acquisition/Construction	706
Total Cost
Land	10,836
Building/Construction in Progress & Improvements	52,695
Total Cost	63,531
Accumulated Depreciation	19,150
Total Cost, Net of Accumulated Depreciation	44,381
Encumbrances	64,472
Current Communities | Avalon New Canaan
Initial Cost
Land	4,834
Building/Construction in Progress & Improvements	19,485
Costs Subsequent to Acquisition/Construction	277
Total Cost
Land	4,834
Building/Construction in Progress & Improvements	19,762
Total Cost	24,596
Accumulated Depreciation	7,282
Total Cost, Net of Accumulated Depreciation	17,314
Current Communities | Avalon at Greyrock Place
Initial Cost
Land	13,819
Building/Construction in Progress & Improvements	56,499
Costs Subsequent to Acquisition/Construction	1,022
Total Cost
Land	13,819
Building/Construction in Progress & Improvements	57,521
Total Cost	71,340
Accumulated Depreciation	20,659
Total Cost, Net of Accumulated Depreciation	50,681
Encumbrances	59,292
Current Communities | Avalon Danbury
Initial Cost
Land	4,933
Building/Construction in Progress & Improvements	30,638
Costs Subsequent to Acquisition/Construction	407
Total Cost
Land	4,933
Building/Construction in Progress & Improvements	31,045
Total Cost	35,978
Accumulated Depreciation	8,175
Total Cost, Net of Accumulated Depreciation	27,803
Current Communities | Avalon Darien
Initial Cost
Land	6,926
Building/Construction in Progress & Improvements	34,659
Costs Subsequent to Acquisition/Construction	923
Total Cost
Land	6,926
Building/Construction in Progress & Improvements	35,582
Total Cost	42,508
Accumulated Depreciation	11,126
Total Cost, Net of Accumulated Depreciation	31,382
Encumbrances	49,221
Current Communities | Avalon Milford I
Initial Cost
Land	8,746
Building/Construction in Progress & Improvements	22,699
Costs Subsequent to Acquisition/Construction	429
Total Cost
Land	8,746
Building/Construction in Progress & Improvements	23,128
Total Cost	31,874
Accumulated Depreciation	6,850
Total Cost, Net of Accumulated Depreciation	25,024
Current Communities | Avalon Norwalk
Initial Cost
Land	11,320
Building/Construction in Progress & Improvements	62,910
Total Cost
Land	11,320
Building/Construction in Progress & Improvements	62,910
Total Cost	74,230
Accumulated Depreciation	4,912
Total Cost, Net of Accumulated Depreciation	69,318
Current Communities | Avalon Huntington
Initial Cost
Land	5,277
Building/Construction in Progress & Improvements	20,029
Costs Subsequent to Acquisition/Construction	78
Total Cost
Land	5,277
Building/Construction in Progress & Improvements	20,107
Total Cost	25,384
Accumulated Depreciation	2,945
Total Cost, Net of Accumulated Depreciation	22,439
Current Communities | Avalon Wilton II
Initial Cost
Land	6,604
Building/Construction in Progress & Improvements	23,727
Total Cost
Land	6,604
Building/Construction in Progress & Improvements	23,727
Total Cost	30,331
Accumulated Depreciation	1,290
Total Cost, Net of Accumulated Depreciation	29,041
Current Communities | Avalon at Foxhall
Initial Cost
Land	6,848
Building/Construction in Progress & Improvements	27,614
Costs Subsequent to Acquisition/Construction	11,065
Total Cost
Land	6,848
Building/Construction in Progress & Improvements	38,679
Total Cost	45,527
Accumulated Depreciation	22,151
Total Cost, Net of Accumulated Depreciation	23,376
Encumbrances	57,912
Current Communities | Avalon at Gallery Place
Initial Cost
Land	8,800
Building/Construction in Progress & Improvements	39,658
Costs Subsequent to Acquisition/Construction	621
Total Cost
Land	8,800
Building/Construction in Progress & Improvements	40,279
Total Cost	49,079
Accumulated Depreciation	13,753
Total Cost, Net of Accumulated Depreciation	35,326
Encumbrances	44,997
Current Communities | Avalon at Lexington
Initial Cost
Land	2,124
Building/Construction in Progress & Improvements	12,599
Costs Subsequent to Acquisition/Construction	8,901
Total Cost
Land	2,124
Building/Construction in Progress & Improvements	21,500
Total Cost	23,624
Accumulated Depreciation	9,740
Total Cost, Net of Accumulated Depreciation	13,884
Current Communities | Avalon Oaks
Initial Cost
Land	2,129
Building/Construction in Progress & Improvements	18,676
Costs Subsequent to Acquisition/Construction	1,582
Total Cost
Land	2,129
Building/Construction in Progress & Improvements	20,258
Total Cost	22,387
Accumulated Depreciation	9,470
Total Cost, Net of Accumulated Depreciation	12,917
Encumbrances	16,288
Current Communities | Eaves Quincy
Initial Cost
Land	1,743
Building/Construction in Progress & Improvements	14,662
Costs Subsequent to Acquisition/Construction	9,080
Total Cost
Land	1,743
Building/Construction in Progress & Improvements	23,742
Total Cost	25,485
Accumulated Depreciation	10,082
Total Cost, Net of Accumulated Depreciation	15,403
Current Communities | Avalon Essex
Initial Cost
Land	5,184
Building/Construction in Progress & Improvements	16,320
Costs Subsequent to Acquisition/Construction	1,609
Total Cost
Land	5,184
Building/Construction in Progress & Improvements	17,929
Total Cost	23,113
Accumulated Depreciation	7,823
Total Cost, Net of Accumulated Depreciation	15,290
Current Communities | Avalon at Prudential Center
Initial Cost
Land	25,812
Building/Construction in Progress & Improvements	104,399
Costs Subsequent to Acquisition/Construction	52,403
Total Cost
Land	25,812
Building/Construction in Progress & Improvements	156,802
Total Cost	182,614
Accumulated Depreciation	62,991
Total Cost, Net of Accumulated Depreciation	119,623
Current Communities | Avalon Oaks West
Initial Cost
Land	3,318
Building/Construction in Progress & Improvements	13,467
Costs Subsequent to Acquisition/Construction	546
Total Cost
Land	3,318
Building/Construction in Progress & Improvements	14,013
Total Cost	17,331
Accumulated Depreciation	5,351
Total Cost, Net of Accumulated Depreciation	11,980
Encumbrances	16,205
Current Communities | Avalon Orchards
Initial Cost
Land	2,983
Building/Construction in Progress & Improvements	18,037
Costs Subsequent to Acquisition/Construction	1,554
Total Cost
Land	2,983
Building/Construction in Progress & Improvements	19,591
Total Cost	22,574
Accumulated Depreciation	7,242
Total Cost, Net of Accumulated Depreciation	15,332
Encumbrances	17,939
Current Communities | Avalon at Newton Highlands
Initial Cost
Land	11,039
Building/Construction in Progress & Improvements	45,590
Costs Subsequent to Acquisition/Construction	2,538
Total Cost
Land	11,039
Building/Construction in Progress & Improvements	48,128
Total Cost	59,167
Accumulated Depreciation	15,517
Total Cost, Net of Accumulated Depreciation	43,650
Current Communities | Avalon at The Pinehills
Initial Cost
Land	3,623
Building/Construction in Progress & Improvements	16,291
Costs Subsequent to Acquisition/Construction	111
Total Cost
Land	3,623
Building/Construction in Progress & Improvements	16,402
Total Cost	20,025
Accumulated Depreciation	4,890
Total Cost, Net of Accumulated Depreciation	15,135
Current Communities | Eaves Peabody
Initial Cost
Land	4,645
Building/Construction in Progress & Improvements	19,007
Costs Subsequent to Acquisition/Construction	11,643
Total Cost
Land	4,645
Building/Construction in Progress & Improvements	30,650
Total Cost	35,295
Accumulated Depreciation	7,529
Total Cost, Net of Accumulated Depreciation	27,766
Current Communities | Avalon at Bedford Center
Initial Cost
Land	4,258
Building/Construction in Progress & Improvements	20,569
Costs Subsequent to Acquisition/Construction	139
Total Cost
Land	4,258
Building/Construction in Progress & Improvements	20,708
Total Cost	24,966
Accumulated Depreciation	5,221
Total Cost, Net of Accumulated Depreciation	19,745
Current Communities | Avalon Chestnut Hill
Initial Cost
Land	14,572
Building/Construction in Progress & Improvements	45,911
Costs Subsequent to Acquisition/Construction	640
Total Cost
Land	14,572
Building/Construction in Progress & Improvements	46,551
Total Cost	61,123
Accumulated Depreciation	10,236
Total Cost, Net of Accumulated Depreciation	50,887
Encumbrances	40,390
Current Communities | Avalon Shrewsbury
Initial Cost
Land	5,152
Building/Construction in Progress & Improvements	30,608
Costs Subsequent to Acquisition/Construction	203
Total Cost
Land	5,152
Building/Construction in Progress & Improvements	30,811
Total Cost	35,963
Accumulated Depreciation	6,858
Total Cost, Net of Accumulated Depreciation	29,105
Encumbrances	20,737
Current Communities | Avalon Danvers
Initial Cost
Land	7,010
Building/Construction in Progress & Improvements	76,904
Costs Subsequent to Acquisition/Construction	443
Total Cost
Land	7,010
Building/Construction in Progress & Improvements	77,347
Total Cost	84,357
Accumulated Depreciation	14,342
Total Cost, Net of Accumulated Depreciation	70,015
Current Communities | Avalon at Lexington Hills
Initial Cost
Land	8,691
Building/Construction in Progress & Improvements	79,153
Costs Subsequent to Acquisition/Construction	194
Total Cost
Land	8,691
Building/Construction in Progress & Improvements	79,347
Total Cost	88,038
Accumulated Depreciation	13,740
Total Cost, Net of Accumulated Depreciation	74,298
Current Communities | Avalon Acton
Initial Cost
Land	13,124
Building/Construction in Progress & Improvements	49,935
Costs Subsequent to Acquisition/Construction	70
Total Cost
Land	13,124
Building/Construction in Progress & Improvements	50,005
Total Cost	63,129
Accumulated Depreciation	8,461
Total Cost, Net of Accumulated Depreciation	54,668
Encumbrances	45,000
Current Communities | Avalon at Hingham Shipyard
Initial Cost
Land	12,218
Building/Construction in Progress & Improvements	41,591
Costs Subsequent to Acquisition/Construction	27
Total Cost
Land	12,218
Building/Construction in Progress & Improvements	41,618
Total Cost	53,836
Accumulated Depreciation	6,040
Total Cost, Net of Accumulated Depreciation	47,796
Current Communities | Avalon Sharon
Initial Cost
Land	4,719
Building/Construction in Progress & Improvements	25,522
Costs Subsequent to Acquisition/Construction	31
Total Cost
Land	4,719
Building/Construction in Progress & Improvements	25,553
Total Cost	30,272
Accumulated Depreciation	4,138
Total Cost, Net of Accumulated Depreciation	26,134
Current Communities | Avalon Northborough
Initial Cost
Land	3,362
Building/Construction in Progress & Improvements	22,322
Total Cost
Land	3,362
Building/Construction in Progress & Improvements	22,322
Total Cost	25,684
Accumulated Depreciation	2,760
Total Cost, Net of Accumulated Depreciation	22,924
Current Communities | Avalon Blue Hills
Initial Cost
Land	11,110
Building/Construction in Progress & Improvements	34,736
Total Cost
Land	11,110
Building/Construction in Progress & Improvements	34,736
Total Cost	45,846
Accumulated Depreciation	4,324
Total Cost, Net of Accumulated Depreciation	41,522
Current Communities | Avalon Northborough II
Initial Cost
Land	4,782
Building/Construction in Progress & Improvements	30,132
Total Cost
Land	4,782
Building/Construction in Progress & Improvements	30,132
Total Cost	34,914
Accumulated Depreciation	2,625
Total Cost, Net of Accumulated Depreciation	32,289
Current Communities | Avalon at the Pinehills II
Initial Cost
Land	3,253
Building/Construction in Progress & Improvements	14,109
Total Cost
Land	3,253
Building/Construction in Progress & Improvements	14,109
Total Cost	17,362
Accumulated Depreciation	820
Total Cost, Net of Accumulated Depreciation	16,542
Current Communities | Avalon Cohasset
Initial Cost
Land	8,780
Building/Construction in Progress & Improvements	46,075
Total Cost
Land	8,780
Building/Construction in Progress & Improvements	46,075
Total Cost	54,855
Accumulated Depreciation	1,599
Total Cost, Net of Accumulated Depreciation	53,256
Current Communities | Avalon Andover
Initial Cost
Land	4,271
Building/Construction in Progress & Improvements	21,665
Total Cost
Land	4,271
Building/Construction in Progress & Improvements	21,665
Total Cost	25,936
Accumulated Depreciation	492
Total Cost, Net of Accumulated Depreciation	25,444
Current Communities | Eaves Burlington
Initial Cost
Land	7,989
Building/Construction in Progress & Improvements	32,261
Total Cost
Land	7,989
Building/Construction in Progress & Improvements	32,261
Total Cost	40,250
Accumulated Depreciation	60
Total Cost, Net of Accumulated Depreciation	40,190
Current Communities | Avalon at Fairway Hills
Initial Cost
Land	8,603
Building/Construction in Progress & Improvements	34,432
Costs Subsequent to Acquisition/Construction	10,493
Total Cost
Land	8,603
Building/Construction in Progress & Improvements	44,925
Total Cost	53,528
Accumulated Depreciation	25,036
Total Cost, Net of Accumulated Depreciation	28,492
Current Communities | Avalon at Decoverly
Initial Cost
Land	11,865
Building/Construction in Progress & Improvements	49,686
Costs Subsequent to Acquisition/Construction	8,692
Total Cost
Land	11,865
Building/Construction in Progress & Improvements	58,378
Total Cost	70,243
Accumulated Depreciation	21,856
Total Cost, Net of Accumulated Depreciation	48,387
Current Communities | Eaves Washingtonian Center I
Initial Cost
Land	2,608
Building/Construction in Progress & Improvements	11,707
Costs Subsequent to Acquisition/Construction	470
Total Cost
Land	2,608
Building/Construction in Progress & Improvements	12,177
Total Cost	14,785
Accumulated Depreciation	7,031
Total Cost, Net of Accumulated Depreciation	7,754
Encumbrances	8,764
Current Communities | Eaves Washingtonian Center II
Initial Cost
Land	1,439
Building/Construction in Progress & Improvements	6,846
Costs Subsequent to Acquisition/Construction	103
Total Cost
Land	1,439
Building/Construction in Progress & Improvements	6,949
Total Cost	8,388
Accumulated Depreciation	3,496
Total Cost, Net of Accumulated Depreciation	4,892
Current Communities | Eaves Columbia Town Center
Initial Cost
Land	8,802
Building/Construction in Progress & Improvements	35,536
Costs Subsequent to Acquisition/Construction	11,375
Total Cost
Land	8,802
Building/Construction in Progress & Improvements	46,911
Total Cost	55,713
Accumulated Depreciation	13,030
Total Cost, Net of Accumulated Depreciation	42,683
Current Communities | Avalon at Grosvenor Station
Initial Cost
Land	29,159
Building/Construction in Progress & Improvements	53,001
Costs Subsequent to Acquisition/Construction	930
Total Cost
Land	29,159
Building/Construction in Progress & Improvements	53,931
Total Cost	83,090
Accumulated Depreciation	17,172
Total Cost, Net of Accumulated Depreciation	65,918
Current Communities | Avalon at Traville
Initial Cost
Land	14,365
Building/Construction in Progress & Improvements	55,398
Costs Subsequent to Acquisition/Construction	574
Total Cost
Land	14,365
Building/Construction in Progress & Improvements	55,972
Total Cost	70,337
Accumulated Depreciation	17,640
Total Cost, Net of Accumulated Depreciation	52,697
Encumbrances	76,254
Current Communities | Avalon Cove
Initial Cost
Land	8,760
Building/Construction in Progress & Improvements	82,574
Costs Subsequent to Acquisition/Construction	20,242
Total Cost
Land	8,760
Building/Construction in Progress & Improvements	102,816
Total Cost	111,576
Accumulated Depreciation	46,825
Total Cost, Net of Accumulated Depreciation	64,751
Current Communities | Avalon Run
Initial Cost
Land	14,650
Building/Construction in Progress & Improvements	60,486
Costs Subsequent to Acquisition/Construction	2,235
Total Cost
Land	14,650
Building/Construction in Progress & Improvements	62,721
Total Cost	77,371
Accumulated Depreciation	19,253
Total Cost, Net of Accumulated Depreciation	58,118
Current Communities | Avalon Princeton Junction
Initial Cost
Land	5,585
Building/Construction in Progress & Improvements	22,394
Costs Subsequent to Acquisition/Construction	20,573
Total Cost
Land	5,585
Building/Construction in Progress & Improvements	42,967
Total Cost	48,552
Accumulated Depreciation	18,341
Total Cost, Net of Accumulated Depreciation	30,211
Current Communities | Avalon at Edgewater
Initial Cost
Land	14,528
Building/Construction in Progress & Improvements	60,240
Costs Subsequent to Acquisition/Construction	2,968
Total Cost
Land	14,528
Building/Construction in Progress & Improvements	63,208
Total Cost	77,736
Accumulated Depreciation	24,107
Total Cost, Net of Accumulated Depreciation	53,629
Encumbrances	77,103
Current Communities | Avalon at Florham Park
Initial Cost
Land	6,647
Building/Construction in Progress & Improvements	34,906
Costs Subsequent to Acquisition/Construction	1,168
Total Cost
Land	6,647
Building/Construction in Progress & Improvements	36,074
Total Cost	42,721
Accumulated Depreciation	15,259
Total Cost, Net of Accumulated Depreciation	27,462
Current Communities | Avalon at Freehold
Initial Cost
Land	4,119
Building/Construction in Progress & Improvements	30,514
Costs Subsequent to Acquisition/Construction	330
Total Cost
Land	4,119
Building/Construction in Progress & Improvements	30,844
Total Cost	34,963
Accumulated Depreciation	11,833
Total Cost, Net of Accumulated Depreciation	23,130
Encumbrances	35,948
Current Communities | Avalon Run East
Initial Cost
Land	6,766
Building/Construction in Progress & Improvements	45,366
Costs Subsequent to Acquisition/Construction	572
Total Cost
Land	6,766
Building/Construction in Progress & Improvements	45,938
Total Cost	52,704
Accumulated Depreciation	13,146
Total Cost, Net of Accumulated Depreciation	39,558
Encumbrances	38,519
Current Communities | Avalon Lyndhurst
Initial Cost
Land	18,620
Building/Construction in Progress & Improvements	59,879
Costs Subsequent to Acquisition/Construction	442
Total Cost
Land	18,620
Building/Construction in Progress & Improvements	60,321
Total Cost	78,941
Accumulated Depreciation	12,488
Total Cost, Net of Accumulated Depreciation	66,453
Current Communities | Avalon at Tinton Falls
Initial Cost
Land	7,939
Building/Construction in Progress & Improvements	33,176
Total Cost
Land	7,939
Building/Construction in Progress & Improvements	33,176
Total Cost	41,115
Accumulated Depreciation	5,342
Total Cost, Net of Accumulated Depreciation	35,773
Current Communities | Avalon at West Long Branch
Initial Cost
Land	2,721
Building/Construction in Progress & Improvements	22,939
Total Cost
Land	2,721
Building/Construction in Progress & Improvements	22,939
Total Cost	25,660
Accumulated Depreciation	1,771
Total Cost, Net of Accumulated Depreciation	23,889
Current Communities | Avalon North Bergen
Initial Cost
Land	8,984
Building/Construction in Progress & Improvements	30,885
Costs Subsequent to Acquisition/Construction	33
Total Cost
Land	8,984
Building/Construction in Progress & Improvements	30,918
Total Cost	39,902
Accumulated Depreciation	550
Total Cost, Net of Accumulated Depreciation	39,352
Current Communities | Avalon at Wesmont Station I
Initial Cost
Land	15,265
Building/Construction in Progress & Improvements	41,268
Total Cost
Land	15,265
Building/Construction in Progress & Improvements	41,268
Total Cost	56,533
Accumulated Depreciation	814
Total Cost, Net of Accumulated Depreciation	55,719
Current Communities | Avalon Commons
Initial Cost
Land	4,679
Building/Construction in Progress & Improvements	28,286
Costs Subsequent to Acquisition/Construction	5,661
Total Cost
Land	4,679
Building/Construction in Progress & Improvements	33,947
Total Cost	38,626
Accumulated Depreciation	16,032
Total Cost, Net of Accumulated Depreciation	22,594
Current Communities | Eaves Nanuet
Initial Cost
Land	8,428
Building/Construction in Progress & Improvements	45,660
Costs Subsequent to Acquisition/Construction	2,578
Total Cost
Land	8,428
Building/Construction in Progress & Improvements	48,238
Total Cost	56,666
Accumulated Depreciation	24,689
Total Cost, Net of Accumulated Depreciation	31,977
Encumbrances	65,004
Current Communities | Avalon Green
Initial Cost
Land	1,820
Building/Construction in Progress & Improvements	10,525
Costs Subsequent to Acquisition/Construction	1,370
Total Cost
Land	1,820
Building/Construction in Progress & Improvements	11,895
Total Cost	13,715
Accumulated Depreciation	7,120
Total Cost, Net of Accumulated Depreciation	6,595
Current Communities | Avalon Towers
Initial Cost
Land	3,118
Building/Construction in Progress & Improvements	12,709
Costs Subsequent to Acquisition/Construction	6,126
Total Cost
Land	3,118
Building/Construction in Progress & Improvements	18,835
Total Cost	21,953
Accumulated Depreciation	10,151
Total Cost, Net of Accumulated Depreciation	11,802
Current Communities | Avalon Willow
Initial Cost
Land	6,207
Building/Construction in Progress & Improvements	40,791
Costs Subsequent to Acquisition/Construction	1,188
Total Cost
Land	6,207
Building/Construction in Progress & Improvements	41,979
Total Cost	48,186
Accumulated Depreciation	18,925
Total Cost, Net of Accumulated Depreciation	29,261
Current Communities | Avalon Court
Initial Cost
Land	9,228
Building/Construction in Progress & Improvements	50,063
Costs Subsequent to Acquisition/Construction	2,499
Total Cost
Land	9,228
Building/Construction in Progress & Improvements	52,562
Total Cost	61,790
Accumulated Depreciation	24,874
Total Cost, Net of Accumulated Depreciation	36,916
Current Communities | The Avalon
Initial Cost
Land	2,889
Building/Construction in Progress & Improvements	28,324
Costs Subsequent to Acquisition/Construction	3,180
Total Cost
Land	2,889
Building/Construction in Progress & Improvements	31,504
Total Cost	34,393
Accumulated Depreciation	13,335
Total Cost, Net of Accumulated Depreciation	21,058
Current Communities | Avalon Riverview I
Initial Cost
Building/Construction in Progress & Improvements	94,113
Costs Subsequent to Acquisition/Construction	2,274
Total Cost
Building/Construction in Progress & Improvements	96,387
Total Cost	96,387
Accumulated Depreciation	34,611
Total Cost, Net of Accumulated Depreciation	61,776
Current Communities | Avalon at Glen Cove
Initial Cost
Land	7,871
Building/Construction in Progress & Improvements	59,969
Costs Subsequent to Acquisition/Construction	528
Total Cost
Land	7,871
Building/Construction in Progress & Improvements	60,497
Total Cost	68,368
Accumulated Depreciation	17,814
Total Cost, Net of Accumulated Depreciation	50,554
Current Communities | Avalon Pines
Initial Cost
Land	8,700
Building/Construction in Progress & Improvements	62,931
Costs Subsequent to Acquisition/Construction	156
Total Cost
Land	8,700
Building/Construction in Progress & Improvements	63,087
Total Cost	71,787
Accumulated Depreciation	16,609
Total Cost, Net of Accumulated Depreciation	55,178
Current Communities | Avalon Bowery Place I
Initial Cost
Land	18,575
Building/Construction in Progress & Improvements	75,009
Costs Subsequent to Acquisition/Construction	2,600
Total Cost
Land	18,575
Building/Construction in Progress & Improvements	77,609
Total Cost	96,184
Accumulated Depreciation	16,837
Total Cost, Net of Accumulated Depreciation	79,347
Encumbrances	93,800
Current Communities | Avalon Glen Cove North
Initial Cost
Land	2,577
Building/Construction in Progress & Improvements	37,336
Costs Subsequent to Acquisition/Construction	83
Total Cost
Land	2,577
Building/Construction in Progress & Improvements	37,419
Total Cost	39,996
Accumulated Depreciation	7,404
Total Cost, Net of Accumulated Depreciation	32,592
Current Communities | Avalon Riverview North
Initial Cost
Building/Construction in Progress & Improvements	166,651
Costs Subsequent to Acquisition/Construction	1,039
Total Cost
Building/Construction in Progress & Improvements	167,690
Total Cost	167,690
Accumulated Depreciation	30,395
Total Cost, Net of Accumulated Depreciation	137,295
Current Communities | Avalon on the Sound East
Initial Cost
Land	5,735
Building/Construction in Progress & Improvements	180,911
Costs Subsequent to Acquisition/Construction	593
Total Cost
Land	5,735
Building/Construction in Progress & Improvements	181,504
Total Cost	187,239
Accumulated Depreciation	32,938
Total Cost, Net of Accumulated Depreciation	154,301
Current Communities | Avalon Bowery Place II
Initial Cost
Land	9,106
Building/Construction in Progress & Improvements	47,180
Costs Subsequent to Acquisition/Construction	678
Total Cost
Land	9,106
Building/Construction in Progress & Improvements	47,858
Total Cost	56,964
Accumulated Depreciation	8,404
Total Cost, Net of Accumulated Depreciation	48,560
Current Communities | Avalon White Plains
Initial Cost
Land	15,391
Building/Construction in Progress & Improvements	137,353
Costs Subsequent to Acquisition/Construction	11
Total Cost
Land	15,391
Building/Construction in Progress & Improvements	137,364
Total Cost	152,755
Accumulated Depreciation	17,752
Total Cost, Net of Accumulated Depreciation	135,003
Current Communities | Avalon Morningside Park
Initial Cost
Building/Construction in Progress & Improvements	114,327
Costs Subsequent to Acquisition/Construction	775
Total Cost
Building/Construction in Progress & Improvements	115,102
Total Cost	115,102
Accumulated Depreciation	16,440
Total Cost, Net of Accumulated Depreciation	98,662
Encumbrances	100,000
Current Communities | Avalon Charles Pond
Initial Cost
Land	14,715
Building/Construction in Progress & Improvements	33,640
Costs Subsequent to Acquisition/Construction	6
Total Cost
Land	14,715
Building/Construction in Progress & Improvements	33,646
Total Cost	48,361
Accumulated Depreciation	4,392
Total Cost, Net of Accumulated Depreciation	43,969
Current Communities | Avalon Fort Greene
Initial Cost
Land	83,038
Building/Construction in Progress & Improvements	218,444
Costs Subsequent to Acquisition/Construction	561
Total Cost
Land	83,038
Building/Construction in Progress & Improvements	219,005
Total Cost	302,043
Accumulated Depreciation	19,716
Total Cost, Net of Accumulated Depreciation	282,327
Current Communities | Avalon Rockville Centre
Initial Cost
Land	32,285
Building/Construction in Progress & Improvements	77,994
Total Cost
Land	32,285
Building/Construction in Progress & Improvements	77,994
Total Cost	110,279
Accumulated Depreciation	2,797
Total Cost, Net of Accumulated Depreciation	107,482
Current Communities | Avalon Green Phase II
Initial Cost
Land	27,672
Building/Construction in Progress & Improvements	75,202
Total Cost
Land	27,672
Building/Construction in Progress & Improvements	75,202
Total Cost	102,874
Accumulated Depreciation	1,802
Total Cost, Net of Accumulated Depreciation	101,072
Current Communities | Avalon at Center Place
Initial Cost
Building/Construction in Progress & Improvements	26,816
Costs Subsequent to Acquisition/Construction	10,178
Total Cost
Building/Construction in Progress & Improvements	36,994
Total Cost	36,994
Accumulated Depreciation	16,987
Total Cost, Net of Accumulated Depreciation	20,007
Current Communities | Eaves Fair Lakes
Initial Cost
Land	6,096
Building/Construction in Progress & Improvements	24,400
Costs Subsequent to Acquisition/Construction	7,661
Total Cost
Land	6,096
Building/Construction in Progress & Improvements	32,061
Total Cost	38,157
Accumulated Depreciation	15,482
Total Cost, Net of Accumulated Depreciation	22,675
Current Communities | AVA Ballston
Initial Cost
Land	7,291
Building/Construction in Progress & Improvements	29,177
Costs Subsequent to Acquisition/Construction	15,226
Total Cost
Land	7,291
Building/Construction in Progress & Improvements	44,403
Total Cost	51,694
Accumulated Depreciation	20,830
Total Cost, Net of Accumulated Depreciation	30,864
Current Communities | Eaves Fairfax City
Initial Cost
Land	2,152
Building/Construction in Progress & Improvements	8,907
Costs Subsequent to Acquisition/Construction	4,627
Total Cost
Land	2,152
Building/Construction in Progress & Improvements	13,534
Total Cost	15,686
Accumulated Depreciation	5,498
Total Cost, Net of Accumulated Depreciation	10,188
Current Communities | Avalon Crescent
Initial Cost
Land	13,851
Building/Construction in Progress & Improvements	43,397
Costs Subsequent to Acquisition/Construction	1,157
Total Cost
Land	13,851
Building/Construction in Progress & Improvements	44,554
Total Cost	58,405
Accumulated Depreciation	23,606
Total Cost, Net of Accumulated Depreciation	34,799
Encumbrances	110,600
Current Communities | Avalon at Arlington Square
Initial Cost
Land	22,041
Building/Construction in Progress & Improvements	90,296
Costs Subsequent to Acquisition/Construction	2,402
Total Cost
Land	22,041
Building/Construction in Progress & Improvements	92,698
Total Cost	114,739
Accumulated Depreciation	36,374
Total Cost, Net of Accumulated Depreciation	78,365
Encumbrances	170,125
Current Communities | Fairfax Towers
Initial Cost
Land	17,889
Building/Construction in Progress & Improvements	74,734
Costs Subsequent to Acquisition/Construction	86
Total Cost
Land	17,889
Building/Construction in Progress & Improvements	74,820
Total Cost	92,709
Accumulated Depreciation	4,386
Total Cost, Net of Accumulated Depreciation	88,323
Encumbrances	42,459
Current Communities | Avalon Redmond Place
Initial Cost
Land	4,558
Building/Construction in Progress & Improvements	18,368
Costs Subsequent to Acquisition/Construction	9,451
Total Cost
Land	4,558
Building/Construction in Progress & Improvements	27,819
Total Cost	32,377
Accumulated Depreciation	12,535
Total Cost, Net of Accumulated Depreciation	19,842
Current Communities | Avalon at Bear Creek
Initial Cost
Land	6,786
Building/Construction in Progress & Improvements	27,641
Costs Subsequent to Acquisition/Construction	3,129
Total Cost
Land	6,786
Building/Construction in Progress & Improvements	30,770
Total Cost	37,556
Accumulated Depreciation	14,935
Total Cost, Net of Accumulated Depreciation	22,621
Current Communities | Avalon Bellevue
Initial Cost
Land	6,664
Building/Construction in Progress & Improvements	24,119
Costs Subsequent to Acquisition/Construction	1,132
Total Cost
Land	6,664
Building/Construction in Progress & Improvements	25,251
Total Cost	31,915
Accumulated Depreciation	10,323
Total Cost, Net of Accumulated Depreciation	21,592
Encumbrances	26,201
Current Communities | Avalon RockMeadow
Initial Cost
Land	4,777
Building/Construction in Progress & Improvements	19,765
Costs Subsequent to Acquisition/Construction	1,458
Total Cost
Land	4,777
Building/Construction in Progress & Improvements	21,223
Total Cost	26,000
Accumulated Depreciation	8,916
Total Cost, Net of Accumulated Depreciation	17,084
Current Communities | Avalon ParcSquare
Initial Cost
Land	3,789
Building/Construction in Progress & Improvements	15,139
Costs Subsequent to Acquisition/Construction	2,181
Total Cost
Land	3,789
Building/Construction in Progress & Improvements	17,320
Total Cost	21,109
Accumulated Depreciation	7,256
Total Cost, Net of Accumulated Depreciation	13,853
Current Communities | Avalon Brandemoor
Initial Cost
Land	8,608
Building/Construction in Progress & Improvements	36,679
Costs Subsequent to Acquisition/Construction	1,559
Total Cost
Land	8,608
Building/Construction in Progress & Improvements	38,238
Total Cost	46,846
Accumulated Depreciation	15,202
Total Cost, Net of Accumulated Depreciation	31,644
Current Communities | AVA Belltown
Initial Cost
Land	5,644
Building/Construction in Progress & Improvements	12,733
Costs Subsequent to Acquisition/Construction	867
Total Cost
Land	5,644
Building/Construction in Progress & Improvements	13,600
Total Cost	19,244
Accumulated Depreciation	5,241
Total Cost, Net of Accumulated Depreciation	14,003
Current Communities | Avalon Meydenbauer
Initial Cost
Land	12,697
Building/Construction in Progress & Improvements	77,451
Costs Subsequent to Acquisition/Construction	1,094
Total Cost
Land	12,697
Building/Construction in Progress & Improvements	78,545
Total Cost	91,242
Accumulated Depreciation	12,564
Total Cost, Net of Accumulated Depreciation	78,678
Current Communities | Avalon Towers Bellevue
Initial Cost
Building/Construction in Progress & Improvements	123,010
Costs Subsequent to Acquisition/Construction	228
Total Cost
Building/Construction in Progress & Improvements	123,238
Total Cost	123,238
Accumulated Depreciation	10,146
Total Cost, Net of Accumulated Depreciation	113,092
Current Communities | AVA Queen Anne
Initial Cost
Land	12,081
Building/Construction in Progress & Improvements	41,583
Total Cost
Land	12,081
Building/Construction in Progress & Improvements	41,583
Total Cost	53,664
Accumulated Depreciation	1,295
Total Cost, Net of Accumulated Depreciation	52,369
Current Communities | Avalon Brandemoor Phase II
Initial Cost
Land	2,655
Building/Construction in Progress & Improvements	11,343
Total Cost
Land	2,655
Building/Construction in Progress & Improvements	11,343
Total Cost	13,998
Accumulated Depreciation	614
Total Cost, Net of Accumulated Depreciation	13,384
Development Communities
Initial Cost
Land	24,657
Building/Construction in Progress & Improvements	93,988
Costs Subsequent to Acquisition/Construction	763,145
Total Cost
Land	24,657
Building/Construction in Progress & Improvements	857,133
Total Cost	881,790
Accumulated Depreciation	878
Total Cost, Net of Accumulated Depreciation	880,912
Development Communities | Avalon Garden City
Initial Cost
Land	13,084
Building/Construction in Progress & Improvements	36,346
Costs Subsequent to Acquisition/Construction	15,494
Total Cost
Land	13,084
Building/Construction in Progress & Improvements	51,840
Total Cost	64,924
Accumulated Depreciation	459
Total Cost, Net of Accumulated Depreciation	64,465
Development Communities | Avalon Park Crest
Initial Cost
Land	7,615
Building/Construction in Progress & Improvements	36,405
Costs Subsequent to Acquisition/Construction	31,860
Total Cost
Land	7,615
Building/Construction in Progress & Improvements	68,265
Total Cost	75,880
Accumulated Depreciation	327
Total Cost, Net of Accumulated Depreciation	75,553
Development Communities | Avalon Somerset
Initial Cost
Land	3,371
Building/Construction in Progress & Improvements	11,710
Costs Subsequent to Acquisition/Construction	38,080
Total Cost
Land	3,371
Building/Construction in Progress & Improvements	49,790
Total Cost	53,161
Accumulated Depreciation	75
Total Cost, Net of Accumulated Depreciation	53,086
Development Communities | Avalon Irvine II
Initial Cost
Land	587
Building/Construction in Progress & Improvements	6,060
Costs Subsequent to Acquisition/Construction	36,204
Total Cost
Land	587
Building/Construction in Progress & Improvements	42,264
Total Cost	42,851
Accumulated Depreciation	17
Total Cost, Net of Accumulated Depreciation	42,834
Development Communities | AVA H Street
Initial Cost
Building/Construction in Progress & Improvements	859
Costs Subsequent to Acquisition/Construction	29,314
Total Cost
Building/Construction in Progress & Improvements	30,173
Total Cost	30,173
Total Cost, Net of Accumulated Depreciation	30,173
Development Communities | Avalon Natick
Initial Cost
Building/Construction in Progress & Improvements	134
Costs Subsequent to Acquisition/Construction	54,674
Total Cost
Building/Construction in Progress & Improvements	54,808
Total Cost	54,808
Total Cost, Net of Accumulated Depreciation	54,808
Development Communities | Avalon Ballard
Initial Cost
Building/Construction in Progress & Improvements	971
Costs Subsequent to Acquisition/Construction	54,055
Total Cost
Building/Construction in Progress & Improvements	55,026
Total Cost	55,026
Total Cost, Net of Accumulated Depreciation	55,026
Development Communities | Avalon Exeter
Initial Cost
Building/Construction in Progress & Improvements	212
Costs Subsequent to Acquisition/Construction	46,567
Total Cost
Building/Construction in Progress & Improvements	46,779
Total Cost	46,779
Total Cost, Net of Accumulated Depreciation	46,779
Development Communities | Avalon Shelton III
Initial Cost
Building/Construction in Progress & Improvements	130
Costs Subsequent to Acquisition/Construction	31,896
Total Cost
Building/Construction in Progress & Improvements	32,026
Total Cost	32,026
Total Cost, Net of Accumulated Depreciation	32,026
Development Communities | Avalon Hackensack at Riverside
Initial Cost
Building/Construction in Progress & Improvements	299
Costs Subsequent to Acquisition/Construction	26,802
Total Cost
Building/Construction in Progress & Improvements	27,101
Total Cost	27,101
Total Cost, Net of Accumulated Depreciation	27,101
Development Communities | West Chelsea/AVA High Line
Initial Cost
Building/Construction in Progress & Improvements	106
Costs Subsequent to Acquisition/Construction	88,629
Total Cost
Building/Construction in Progress & Improvements	88,735
Total Cost	88,735
Total Cost, Net of Accumulated Depreciation	88,735
Development Communities | Avalon Mosaic
Initial Cost
Building/Construction in Progress & Improvements	1
Costs Subsequent to Acquisition/Construction	59,927
Total Cost
Building/Construction in Progress & Improvements	59,928
Total Cost	59,928
Total Cost, Net of Accumulated Depreciation	59,928
Development Communities | Avalon East Norwalk
Initial Cost
Building/Construction in Progress & Improvements	59
Costs Subsequent to Acquisition/Construction	15,831
Total Cost
Building/Construction in Progress & Improvements	15,890
Total Cost	15,890
Total Cost, Net of Accumulated Depreciation	15,890
Development Communities | Avalon Dublin Station II
Initial Cost
Building/Construction in Progress & Improvements	86
Costs Subsequent to Acquisition/Construction	37,644
Total Cost
Building/Construction in Progress & Improvements	37,730
Total Cost	37,730
Total Cost, Net of Accumulated Depreciation	37,730
Development Communities | Avalon at Assembly Row/AVA Somerville
Initial Cost
Costs Subsequent to Acquisition/Construction	38,506
Total Cost
Building/Construction in Progress & Improvements	38,506
Total Cost	38,506
Total Cost, Net of Accumulated Depreciation	38,506
Development Communities | AVA University District
Initial Cost
Costs Subsequent to Acquisition/Construction	29,461
Total Cost
Building/Construction in Progress & Improvements	29,461
Total Cost	29,461
Total Cost, Net of Accumulated Depreciation	29,461
Development Communities | Avalon Bloomingdale
Initial Cost
Building/Construction in Progress & Improvements	6
Costs Subsequent to Acquisition/Construction	6,957
Total Cost
Building/Construction in Progress & Improvements	6,963
Total Cost	6,963
Total Cost, Net of Accumulated Depreciation	6,963
Development Communities | Avalon at Wesmont Station II
Initial Cost
Building/Construction in Progress & Improvements	209
Costs Subsequent to Acquisition/Construction	13,067
Total Cost
Building/Construction in Progress & Improvements	13,276
Total Cost	13,276
Total Cost, Net of Accumulated Depreciation	13,276
Development Communities | Avalon Morrison Park
Initial Cost
Building/Construction in Progress & Improvements	21
Costs Subsequent to Acquisition/Construction	31,429
Total Cost
Building/Construction in Progress & Improvements	31,450
Total Cost	31,450
Total Cost, Net of Accumulated Depreciation	31,450
Development Communities | AVA 55 Ninth
Initial Cost
Building/Construction in Progress & Improvements	225
Costs Subsequent to Acquisition/Construction	39,525
Total Cost
Building/Construction in Progress & Improvements	39,750
Total Cost	39,750
Total Cost, Net of Accumulated Depreciation	39,750
Development Communities | Avalon Ossining
Initial Cost
Costs Subsequent to Acquisition/Construction	7,901
Total Cost
Building/Construction in Progress & Improvements	7,901
Total Cost	7,901
Total Cost, Net of Accumulated Depreciation	7,901
Development Communities | AVA Little Tokyo
Initial Cost
Building/Construction in Progress & Improvements	149
Costs Subsequent to Acquisition/Construction	27,397
Total Cost
Building/Construction in Progress & Improvements	27,546
Total Cost	27,546
Total Cost, Net of Accumulated Depreciation	27,546
Development Communities | Avalon Wharton
Initial Cost
Costs Subsequent to Acquisition/Construction	1,925
Total Cost
Building/Construction in Progress & Improvements	1,925
Total Cost	1,925
Total Cost, Net of Accumulated Depreciation	1,925
Land Held for Development
Initial Cost
Land	316,037
Total Cost
Land	316,037
Total Cost	316,037
Total Cost, Net of Accumulated Depreciation	316,037
Encumbrances	5,465
Corporate Overhead
Initial Cost
Land	33,081
Building/Construction in Progress & Improvements	25,130
Costs Subsequent to Acquisition/Construction	54,314
Total Cost
Land	33,081
Building/Construction in Progress & Improvements	79,444
Total Cost	112,525
Accumulated Depreciation	39,895
Total Cost, Net of Accumulated Depreciation	72,630
Encumbrances	$ 1,950,000