Investments in Partially Owned Entities (Tables)

6 Months Ended

Jun. 30, 2013

Investments in Partially Owned Entities [Abstract]

Partially Owned Property Balance Sheet Schedule [Table Text Block]

	Consolidated								Unconsolidated
	Development Projects								Development Projects
	Held for and/or Under Development		Operating			Total			Held for and/or Under Development		Operating			Total
Total projects (1)	—		19			19			—		1			1
Total apartment units (1)	—		3,752			3,752			—		336			336
Balance sheet information at 6/30/13 (at 100%):
ASSETS
Investment in real estate	$	250,816	$	671,667		$	922,483		$	304,921	$	55,025		$	359,946
Accumulated depreciation	—		(158,035		)	(158,035		)	—		(2,158		)	(2,158		)
Investment in real estate, net	250,816		513,632			764,448			304,921		52,867			357,788
Cash and cash equivalents	2,656		14,936			17,592			1,581		1,604			3,185
Investments in unconsolidated entities	—		55,858			55,858			—		—			—
Deposits – restricted	43,623		197			43,820			—		—			—
Deferred financing costs, net	—		2,606			2,606			62		5			67
Other assets	5,837		26,661			32,498			415		1,548			1,963
Total assets	$	302,932	$	613,890		$	916,822		$	306,979	$	56,024		$	363,003
LIABILITIES AND EQUITY/CAPITAL
Mortgage notes payable (2)	$	—	$	358,632		$	358,632		$	145,767	$	30,550		$	176,317
Accounts payable & accrued expenses	4,329		1,592			5,921			8,423		(45		)	8,378
Accrued interest payable	—		1,218			1,218			552		—			552
Other liabilities	1,003		1,363			2,366			230		1,817			2,047
Security deposits	—		1,809			1,809			79		—			79
Total liabilities	5,332		364,614			369,946			155,051		32,322			187,373
Noncontrolling Interests - Partially Owned Properties/Partners' equity	93,348		14,145			107,493			115,425		20,450			135,875
Company equity/General and Limited Partners' Capital	204,252		235,131			439,383			36,503		3,252			39,755
Total equity/capital	297,600		249,276			546,876			151,928		23,702			175,630
Total liabilities and equity/capital	$	302,932	$	613,890		$	916,822		$	306,979	$	56,024		$	363,003

Partially Owned Property Income Statement Schedule [Table Text Block]

	Consolidated									Unconsolidated
	Development Projects									Development Projects
	Held for and/or Under Development									Held for and/or Under Development			Operating
				Operating			Total									Total
Operating information for the six months ended 6/30/13 (at 100%):
Operating revenue	$	—		$	38,352		$	38,352		$	1,203		$	1,610		$	2,813
Operating expenses	179			12,293			12,472			1,091			671			1,762
Net operating (loss) income	(179		)	26,059			25,880			112			939			1,051
Depreciation	—			17,056			17,056			—			2,158			2,158
General and administrative/other	503			31			534			11			—			11
Operating (loss) income	(682		)	8,972			8,290			101			(1,219		)	(1,118		)
Interest and other income	1			3			4			—			2			2
Other expenses	(181		)	(3		)	(184		)	—			—			—
Interest:
Expense incurred, net	—			(6,712		)	(6,712		)	(208		)	(373		)	(581		)
Amortization of deferred financing costs	—			(131		)	(131		)	—			—			—
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net (loss) gain on sales of land parcels and discontinued operations	(862		)	2,129			1,267			(107		)	(1,590		)	(1,697		)
Income and other tax (expense) benefit	(11		)	(56		)	(67		)	—			—			—
(Loss) from investments in unconsolidated entities	—			(342		)	(342		)	—			—			—
Net (loss) on sales of land parcels	(17		)	—			(17		)	—			—			—
Net gain on sales of discontinued operations	—			26,686			26,686			—			—			—
Net (loss) income	$	(890	)	$	28,417		$	27,527		$	(107	)	$	(1,590	)	$	(1,697	)

(1) Project and apartment unit counts exclude all uncompleted development projects until those projects are substantially completed.

(2) All debt is non-recourse to the Company with the exception of 50% of the current $2.7 million outstanding debt balance on one unconsolidated development project.