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Investments in Partially Owned Entities (Tables)
 9 Months Ended
Sep. 30, 2014
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 September 30, 2014 (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

 
—

 
1

 
3

 
4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total apartment units (1)
—

 
3,771

 
3,771

 
—

 
444

 
1,225

 
1,669

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance sheet information at 9/30/14 (at 100%):
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in real estate
$
324,997

 
$
679,956

 
$
1,004,953

 
$
61,037

 
$
155,413

 
$
186,779

 
$
403,229

Accumulated depreciation
—

 
(189,005
)
 
(189,005
)
 
—

 
(5,313
)
 
(12,185
)
 
(17,498
)
Investment in real estate, net
324,997

 
490,951

 
815,948

 
61,037

 
150,100

 
174,594

 
385,731

Cash and cash equivalents
2,953

 
15,820

 
18,773

 
66

 
1,975

 
4,486

 
6,527

Investments in unconsolidated entities
—

 
52,641

 
52,641

 
—

 
—

 
—

 
—

Deposits – restricted
31,236

 
300

 
31,536

 
—

 
—

 
189

 
189

Deferred financing costs, net
—

 
2,229

 
2,229

 
41

 
—

 
158

 
199

Other assets
6,679

 
26,927

 
33,606

 
—

 
50

 
1,039

 
1,089

       Total assets
$
365,865

 
$
588,868

 
$
954,733

 
$
61,144

 
$
152,125

 
$
180,466

 
$
393,735

 
 
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY/CAPITAL
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage notes payable (2)
$
—

 
$
360,392

 
$
360,392

 
$
25,631

 
$
96,793

 
$
111,800

 
$
234,224

Accounts payable & accrued expenses
16,707

 
3,217

 
19,924

 
5,730

 
456

 
1,467

 
7,653

Accrued interest payable
—

 
1,266

 
1,266

 
51

 
464

 
269

 
784

Other liabilities
—

 
1,230

 
1,230

 
3

 
88

 
986

 
1,077

Security deposits
—

 
1,975

 
1,975

 
—

 
161

 
296

 
457

       Total liabilities
16,707

 
368,080

 
384,787

 
31,415

 
97,962

 
114,818

 
244,195

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noncontrolling Interests – Partially Owned
Properties/Partners' equity
117,351

 
7,846

 
125,197

 
27,858

 
47,223

 
46,639

 
121,720

Company equity/General and Limited Partners'
Capital
231,807

 
212,942

 
444,749

 
1,871

 
6,940

 
19,009

 
27,820

       Total equity/capital
349,158

 
220,788

 
569,946

 
29,729

 
54,163

 
65,648

 
149,540

       Total liabilities and equity/capital
$
365,865

 
$
588,868

 
$
954,733

 
$
61,144

 
$
152,125

 
$
180,466

 
$
393,735
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 nine months
ended 9/30/14 (at 100%):
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating revenue
$
—

 
$
65,565

 
$
65,565

 
$
—

 
$
6,874

 
$
14,499

 
$
21,373

Operating expenses
—

 
19,390

 
19,390

 
159

 
2,486

 
5,442

 
8,087

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net operating income (loss)
—

 
46,175

 
46,175

 
(159
)
 
4,388

 
9,057

 
13,286

Depreciation
—

 
16,202

 
16,202

 
—

 
4,903

 
6,102

 
11,005

General and administrative/other
1

 
34

 
35

 
—

 
1

 
205

 
206

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating (loss) income
(1
)
 
29,939

 
29,938

 
(159
)
 
(516
)
 
2,750

 
2,075

Interest and other income
—

 
10

 
10

 
—

 
—

 
—

 
—

Other expenses
—

 
(54
)
 
(54
)
 
—

 
—

 
—

 
—

Interest:
 
 
 
 
 
 
 
 
 
 
 
 
 
Expense incurred, net
—

 
(11,708
)
 
(11,708
)
 
—

 
(3,905
)
 
(3,422
)
 
(7,327
)
Amortization of deferred financing costs
—

 
(266
)
 
(266
)
 
—

 
—

 
(81
)
 
(81
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income before income and other taxes
and (loss) from investments in
unconsolidated entities
(1
)
 
17,921

 
17,920

 
(159
)
 
(4,421
)
 
(753
)
 
(5,333
)
Income and other tax (expense) benefit
—

 
(45
)
 
(45
)
 
—

 
(7
)
 
—

 
(7
)
(Loss) from investments in unconsolidated
entities
—

 
(1,273
)
 
(1,273
)
 
—

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income
$
(1
)
 
$
16,603

 
$
16,602

 
$
(159
)
 
$
(4,428
)
 
$
(753
)
 
$
(5,340
)


(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 $25.6 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 $73.5 million at September 30, 2014. The ventures are owned 60% by the Company and 40% by AVB.