The following table reflects each segment’s contribution to consolidated revenues and NOI together with a reconciliation of segment contribution to property NOI to consolidated net income for the three and six months ended June 30, 2013 and 2012. Additionally, substantially all of the Company’s assets relate to the Company’s property rental operations. Asset cost, depreciation and amortization by segment are not presented because such information at the segment level is not reported internally.


	Three months ended						Six months ended
	June 30,						June 30,
	2013			2012			2013			2012
Revenues
Fully stabilized communities	$	79,249		$	76,220		$	157,448		$	150,597
Development and lease-up communities		3,704			77			5,900			77
Acquired communities		1,845			—			3,374			—
Other property segments		5,457			5,657			10,848			11,334
Other		229			206			443			428

Consolidated revenues	$	90,484		$	82,160		$	178,013		$	162,436

Contribution to Property Net Operating Income
Fully stabilized communities	$	48,871		$	46,785		$	96,879		$	92,435
Development and lease-up communities		1,661			(161	)		2,307			(161	)
Acquired communities		1,147			—			2,224			—
Other property segments, including corporate management expenses		(95	)		99			(266	)		(134	)

Consolidated property net operating income		51,584			46,723			101,144			92,140

Interest income		23			288			59			339
Other revenues		229			206			443			428
Depreciation		(21,345	)		(19,497	)		(42,466	)		(38,838	)
Interest expense		(11,130	)		(11,103	)		(22,272	)		(22,748	)
Amortization of deferred financing costs		(645	)		(698	)		(1,269	)		(1,359	)
General and administrative		(4,170	)		(3,883	)		(8,415	)		(8,168	)
Investment and development		(592	)		(322	)		(1,081	)		(802	)
Other investment costs		(516	)		(306	)		(821	)		(612	)
Gains on condominium sales activities, net		13,981			8,530			22,175			15,434
Equity in income of unconsolidated real estate entities, net		477			495			955			6,941
Other income (expense), net		(282	)		737			(448	)		581
Net loss on extinguishment of indebtedness		—			—			—			(301	)

Net income	$	27,614		$	21,170		$	48,004		$	43,035