Fair Value (Tables)

9 Months Ended

Sep. 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	$	39,347	$	180,024	$	215,000
Weighted average interest rate (1)	1.2%		2.4%		4.6%
Weighted average capped interest rate	7.4%		5.3%		N/A
Earliest maturity date	Mar-14		Jul-13		May-13
Latest maturity date	Sep-17		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 and /or disclosed at fair value on a recurring basis

				Quoted Prices			Significant
				in Active			Other			Significant
				Markets for			Observable			Unobservable
				Identical Assets			Inputs			Inputs
Description	9/30/2012			(Level 1)			(Level 2)			(Level 3)
Interest Rate Caps	$	28		$	—		$	28		$	—
Interest Rate Swaps	(54,812		)	—			(54,812		)	—
Put	(5,748		)	—			—			(5,748		)
DownREIT units	(1,020		)	(1,020		)	—			—
Indebtedness	(4,064,394		)	(2,070,262		)	(1,994,132		)	—
Total	$	(4,125,946	)	$	(2,071,282	)	$	(2,048,916	)	$	(5,748	)