Fair Value (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value

Schedule of summary of consolidated Hedging Derivatives, excluding derivatives executed to hedge debt on communities classified as held for sale

	Non-
	designated			Cash Flow			Cash Flow
	Hedges			Hedges			Hedges
	Interest			Interest			Interest
	Rate Caps			Rate Caps			Rate Swaps
Notional balance	$	42,747		$	180,195		$	430,000
Weighted average interest rate (1)	1.2		%	2.4		%	4.5		%
Weighted average capped interest rate	7.3		%	5.3		%	N/A
Earliest maturity date	Aug-12			Jul-13			Sep-12
Latest maturity date	Mar-14			Jun-15			May-13

(1) For interest rate caps, this represents the weighted average interest rate on the debt.

Schedule of summary of classification between the three levels of the fair value hierarchy of the Company's financial instruments measured at fair value on a recurring basis

				Quoted Prices			Significant
				in Active			Other			Significant
				Markets for			Observable			Unobservable
				Identical Assets			Inputs			Inputs
Description	6/30/2012			(Level 1)			(Level 2)			(Level 3)
Interest Rate Caps	$	16		$	—		$	16		$	—
Interest Rate Swaps	(102,244		)	—			(102,244		)	—
Put	(5,820		)	—			—			(5,820		)
DownREIT units	(1,061		)	(1,061		)	—			—
Indebtedness	(3,631,638		)	(1,610,447		)	(2,021,191		)	—
Total	$	(3,740,747	)	$	(1,611,508	)	$	(2,123,419	)	$	(5,820	)