Investments in Partially Owned Entities (Tables)

12 Months Ended

Dec. 31, 2013

Investments in Partially Owned Entities [Abstract]

Partially Owned Property Balance Sheet Schedule [Table Text Block]

The following tables and information summarize the Company’s investments in partially owned entities as of December 31, 2013 (amounts in thousands except for project and apartment unit amounts):

	Consolidated								Unconsolidated
	Development Projects								Development Projects
	Held for and/or Under Development		Operating			Total			Held for and/or Under Development		Completed, Not Stabilized (3)			Operating			Total
Total projects (1)	—		19			19			—		3			1			4
Total apartment units (1)	—		3,752			3,752			—		1,333			336			1,669
Balance sheet information at 12/31/13 (at 100%):
ASSETS
Investment in real estate	$	342,222	$	673,957		$	1,016,179		$	45,123	$	284,264		$	55,545		$	384,932
Accumulated depreciation	—		(172,802		)	(172,802		)	—		(1,887		)	(4,605		)	(6,492		)
Investment in real estate, net	342,222		501,155			843,377			45,123		282,377			50,940			378,440
Cash and cash equivalents	4,704		22,792			27,496			262		1,505			1,377			3,144
Investments in unconsolidated entities	—		54,439			54,439			—		—			—			—
Deposits – restricted	43,654		220			43,874			—		95			47			142
Deferred financing costs, net	—		2,496			2,496			77		129			4			210
Other assets	5,841		26,899			32,740			—		355			871			1,226
Total assets	$	396,421	$	608,001		$	1,004,422		$	45,462	$	284,461		$	53,239		$	383,162
LIABILITIES AND EQUITY/CAPITAL
Mortgage notes payable (2)	$	—	$	360,130		$	360,130		$	11,379	$	172,279		$	30,550		$	214,208
Accounts payable & accrued expenses	21,569		1,113			22,682			4,433		3,844			164			8,441
Accrued interest payable	—		1,283			1,283			23		693			—			716
Other liabilities	1,157		1,487			2,644			339		572			768			1,679
Security deposits	10		1,828			1,838			—		222			105			327
Total liabilities	22,736		365,841			388,577			16,174		177,610			31,587			225,371
Noncontrolling Interests – Partially Owned Properties/Partners' equity	114,245		12,338			126,583			27,858		73,902			20,450			122,210
Company equity/General and Limited Partners' Capital	259,440		229,822			489,262			1,430		32,949			1,202			35,581
Total equity/capital	373,685		242,160			615,845			29,288		106,851			21,652			157,791
Total liabilities and equity/capital	$	396,421	$	608,001		$	1,004,422		$	45,462	$	284,461		$	53,239		$	383,162

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
													Completed, Not Stabilized (3)
				Operating			Total												Total
Operating information for the year ended 12/31/13 (at 100%):
Operating revenue	$	231		$	80,968		$	81,199		$	—		$	6,629		$	4,597		$	11,226
Operating expenses	741			24,888			25,629			135			3,554			1,949			5,638
Net operating (loss) income	(510		)	56,080			55,570			(135		)	3,075			2,648			5,588
Depreciation	—			31,824			31,824			—			1,887			4,605			6,492
General and administrative/other	882			93			975			—			53			201			254
Operating (loss) income	(1,392		)	24,163			22,771			(135		)	1,135			(2,158		)	(1,158		)
Interest and other income	2			3			5			—			—			10			10
Other expenses	(503		)	(5		)	(508		)	—			—			—			—
Interest:
Expense incurred, net	(2		)	(14,561		)	(14,563		)	—			(1,886		)	(941		)	(2,827		)
Amortization of deferred financing costs	—			(301		)	(301		)	—			—			(1		)	(1		)
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net (loss) gain on sales of land parcels and discontinued operations	(1,895		)	9,299			7,404			(135		)	(751		)	(3,090		)	(3,976		)
Income and other tax (expense) benefit	(11		)	(56		)	(67		)	—			—			—			—
(Loss) from investments in unconsolidated entities	—			(1,387		)	(1,387		)	—			—			—			—
Net (loss) on sales of land parcels	(17		)	—			(17		)	—			—			—			—
Net gain on sales of discontinued operations	—			26,673			26,673			—			—			—			—
Net (loss) income	$	(1,923	)	$	34,529		$	32,606		$	(135	)	$	(751	)	$	(3,090	)	$	(3,976	)

(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 $11.4 million outstanding debt balance on one unconsolidated development project.

(3) Projects included here are substantially complete. However, they may still require additional exterior and interior work for all units to be available for leasing.

Note: The above tables exclude the Company's interests in unconsolidated joint ventures entered into with AVB in connection with the Archstone Transaction. These ventures own certain non-core Archstone assets that are held for sale and succeeded to certain residual Archstone liabilities, such as liability for various employment-related matters as well as responsibility for tax protection arrangements and third-party preferred interests in former Archstone subsidiaries. The preferred interests have an aggregate liquidation value of $89.0 million at December 31, 2013. The ventures are owned 60% by the Company and 40% by AVB.