Commitments to Acquire/Dispose of Real Estate

6 Months Ended

Jun. 30, 2013

Commitments to Acquire Dispose of Real Estate [Abstract]

Commitments To Acquire Dispose Of Real Estate Text Block

5. Commitments to Acquire/Dispose of Real Estate

The Company has entered into separate agreements to acquire the following (purchase price in thousands):

	Properties	Apartment Units	Purchase Price
Land Parcels (two)	—	—	$	39,300
Total	—	—	$	39,300

In addition to the properties and land parcel that were subsequently disposed of as discussed in Note 14, the Company has entered into separate agreements to dispose of the following (sales price in thousands):

	Properties	Apartment Units	Sales Price
Rental Properties	2	688	$	68,182
Land Parcel (one)	—	—	26,350
Total	2	688	$	94,532

The closings of these pending transactions are subject to certain conditions and restrictions, therefore, there can be no assurance that these transactions will be consummated or that the final terms will not differ in material respects from those summarized in the preceding paragraphs.