Segment Information (Tables)

9 Months Ended

Sep. 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						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
Revenues
Fully stabilized communities	$	85,725		$	83,371		$	252,823		$	246,271
Newly stabilized communities		4,361			3,188			12,780			7,466
Lease-up communities		1,404			656			3,523			889
Held for sale and sold communities		—			3,478			—			14,168
Other property segments		5,940			5,534			16,579			15,529
Other		337			234			924			676
Consolidated revenues	$	97,767		$	96,461		$	286,629		$	284,999
Contribution to Property Net Operating Income
Fully stabilized communities	$	52,038		$	50,913		$	153,350		$	150,206
Newly stabilized communities		2,380			1,935			7,669			3,922
Lease-up communities		432			44			1,336			(224	)
Held for sale and sold communities		—			1,811			—			7,157
Other property segments, including corporate management expenses		(127	)		(151	)		(992	)		(804	)
Consolidated property net operating income		54,723			54,552			161,363			160,257
Interest income		34			78			158			94
Other revenues		337			234			924			676
Depreciation		(22,073	)		(21,018	)		(64,748	)		(63,614	)
Interest expense		(7,927	)		(9,858	)		(23,773	)		(31,535	)
Amortization of deferred financing costs		(432	)		(588	)		(1,314	)		(1,853	)
General and administrative		(4,622	)		(4,784	)		(13,989	)		(12,878	)
Investment and development		(73	)		(555	)		(583	)		(2,160	)
Other investment costs		(165	)		(224	)		(453	)		(707	)
Other expenses		—			(344	)		—			(1,753	)
Equity in income of unconsolidated real estate entities, net		603			422			1,568			1,408
Gains on sales of real estate assets, net		—			152,785			1,475			189,687
Other income (expense), net		(215	)		(195	)		(605	)		(586	)
Net loss on extinguishment of indebtedness		—			(14,070	)		(197	)		(18,357	)
Net income	$	20,190		$	156,435		$	59,826		$	218,679