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, 2014 and 2013. 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 June 30,						Six months ended June 30,
	2014			2013			2014			2013
Revenues
Fully stabilized communities	$	76,545		$	74,336		$	151,818		$	147,848
Newly stabilized communities		4,331			3,459			8,637			5,631
Lease-up communities		2,632			245			4,511			269
Acquired communities		1,233			383			2,443			383
Held for sale or sold communities		4,820			5,735			10,689			11,337
Other property segments		5,242			4,893			9,998			9,727
Other		223			229			442			443

Consolidated revenues	$	95,026		$	89,280		$	188,538		$	175,638


Contribution to Property Net Operating Income
Fully stabilized communities	$	46,086		$	45,945		$	92,404		$	91,525
Newly stabilized communities		2,693			1,912			5,365			2,586
Lease-up communities		1,041			(252	)		1,719			(280	)
Acquired communities		769			275			1,523			275
Held for sale or sold communities		2,574			3,414			5,346			6,541
Other property segments, including corporate management expenses		(155	)		(416	)		(652	)		(909	)

Consolidated property net operating income		53,008			50,878			105,705			99,738


Interest income		4			23			16			59
Other revenues		223			229			442			443
Depreciation		(20,829	)		(21,170	)		(42,596	)		(42,114	)
Interest expense		(10,433	)		(11,042	)		(21,677	)		(22,094	)
Amortization of deferred financing costs		(620	)		(645	)		(1,265	)		(1,269	)
General and administrative		(3,966	)		(4,170	)		(8,094	)		(8,415	)
Investment and development		(794	)		(592	)		(1,605	)		(1,081	)
Other investment costs		(210	)		(516	)		(483	)		(821	)
Other expenses		(502	)		—			(1,409	)		—
Gains on condominium sales activities, net		—			13,981			810			22,175
Equity in income of unconsolidated real estate entities, net		501			477			986			955
Other income (expense), net		(196	)		(282	)		(391	)		(448	)
Net loss on extinguishment of indebtedness		(4,287	)		—			(4,287	)		—


Income from continuing operations, before gains on sales of real estate assets		11,899			27,171			26,152			47,128
Gains on sales of real estate assets		36,092			—			36,092			—
Income from discontinued operations		—			443			—			876


Net income	$	47,991		$	27,614		$	62,244		$	48,004