Subsequent Events/Other

6 Months Ended

Jun. 30, 2013


14.	Subsequent Events/Other

Subsequent Events

Subsequent to June 30, 2013, the Company:


•	Sold six properties consisting of 2,033 apartment units and one land parcel for $247.3 million;


•	Entered into $150.0 million of forward starting swaps to hedge changes in interest rates related to future secured or unsecured debt issuances; and

•

Filed a new universal shelf registration statement to replace its existing universal shelf registration statement, which expires later this year. The Board of Trustees also approved an increase to the amount of shares which may be offered under the ATM share offering program to 13.0 million Common Shares and an increase and modification to the Company's share repurchase program to allow for the potential repurchase of up to 13.0 million Common Shares.

Other

During the six months ended June 30, 2013 and 2012, the Company incurred charges of $0.1 million and $5.5 million, respectively, related to property acquisition costs, such as survey, title and legal fees, on the acquisition of operating properties (excluding the Archstone transaction) and $3.4 million and $3.6 million, respectively, related to the write-off of various pursuit and out-of-pocket costs for terminated acquisition, disposition and development transactions. These costs, totaling $3.5 million and $9.1 million, respectively, are included in other expenses in the accompanying consolidated statements of operations. See Note 4 for details on the property acquisition costs related to the Archstone transaction.

During the six months ended June 30, 2012, the Company settled a dispute with the owners of a land parcel for $4.2 million, which is included in other expenses in the accompanying consolidated statements of operations.