Debt (Tables)

3 Months Ended

Mar. 31, 2014

Debt Instruments [Abstract]

Schedule of Debt

Debt consists of the following (in thousands):

	March 31, 2014		December 31, 2013
Convertible senior notes - unsecured (net of discount of $7,747)	$	192,253	$	—
Revolving credit facility - unsecured	107,000		167,000
Bank term loans - unsecured	250,000		370,000
Fannie Mae term loans - secured (including a premium of $1,732)	79,780		80,080
	$	629,033	$	617,080

Schedule of Interest Expense

The following table summarizes interest expense (in thousands):

	Three Months Ended
	March 31,
	2014		2013
Interest expense	$	4,374	$	1,041
Debt issuance costs expensed due to credit facility modifications	2,145		—
Amortization of debt issuance costs	368		82
Total interest expense	$	6,887	$	1,123

Schedule of Interest Rate Derivatives

March 31, 2014 (dollars in thousands):

Date Entered	Maturity Date	Fixed Rate	Rate Index	Notional Amount		Fair Value
May 2012	April 2019	3.29%	1-month LIBOR	$	40,000	$	377
June 2013	June 2020	3.86%	1-month LIBOR	$	80,000	$	(247	)
March 2014	June 2020	3.91%	1-month LIBOR	$	130,000	$	(739	)