Segment Information (Tables)

6 Months Ended

Jun. 30, 2015

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,
	2015			2014			2015			2014
Revenues
Fully stabilized communities	$	84,401		$	82,109		$	167,098		$	162,899
Newly stabilized communities		4,260			2,419			8,419			4,277
Lease-up communities		1,096			213			2,118			233
Held for sale and sold communities		—			4,820			—			10,689
Other property segments		5,400			5,242			10,640			9,998
Other		274			223			587			442

Consolidated revenues	$	95,431		$	95,026		$	188,862		$	188,538

Contribution to Property Net Operating Income
Fully stabilized communities	$	50,981		$	49,547		$	101,312		$	99,293
Newly stabilized communities		2,683			1,211			5,290			1,985
Lease-up communities		376			(168	)		902			(268	)
Held for sale and sold communities		—			2,574			—			5,346
Other property segments, including corporate management expenses		(395	)		(156	)		(864	)		(651	)

Consolidated property net operating income		53,645			53,008			106,640			105,705

Interest income		43			4			124			16
Other revenues		274			223			587			442
Depreciation		(21,418	)		(20,829	)		(42,675	)		(42,596	)
Interest expense		(7,753	)		(10,433	)		(15,846	)		(21,677	)
Amortization of deferred financing costs		(433	)		(620	)		(882	)		(1,265	)
General and administrative		(4,353	)		(3,966	)		(9,367	)		(8,094	)
Investment and development		(275	)		(794	)		(510	)		(1,605	)
Other investment costs		(154	)		(210	)		(288	)		(483	)
Other expenses		—			(502	)		—			(1,409	)
Equity in income of unconsolidated real estate entities, net		568			501			965			986
Gains on sales of real estate assets, net		(298	)		36,092			1,475			36,902
Other income (expense), net		(195	)		(196	)		(390	)		(391	)
Net loss on extinguishment of indebtedness		—			(4,287	)		(197	)		(4,287	)

Net income	$	19,651		$	47,991		$	39,636		$	62,244