Notes Payable, Unsecured Notes and Credit Facility (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Summary of company's mortgage notes payable, unsecured notes and Credit Facility excluding mortgage notes secured by communities classified as held for sale

The following amounts and discussion do not include the mortgage notes related to the communities classified as held for sale, if any, as of June 30, 2014 and December 31, 2013, as shown in the Condensed Consolidated Balance Sheets (dollars in thousands) (see Note 7, “Real Estate Disposition Activities”).

	6/30/2014		12/31/2013
Fixed rate unsecured notes (1)	$	2,450,000	$	2,600,000
Term Loan	250,000		—
Fixed rate mortgage notes payable - conventional and tax-exempt (2)	2,408,940		2,418,389
Variable rate mortgage notes payable - conventional and tax-exempt	1,048,569		1,011,609
Total notes payable and unsecured notes	6,157,509		6,029,998
Credit Facility	—		—
Total mortgage notes payable, unsecured notes and Credit Facility	$	6,157,509	$	6,029,998

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(1) Balances at June 30, 2014 and December 31, 2013 exclude $4,889 and $5,291 of debt discount, respectively, as reflected in unsecured notes, net on the Company’s Condensed Consolidated Balance Sheets.

(2) Balances at June 30, 2014 and December 31, 2013 exclude $102,254 and $120,684 of debt premium, respectively, as reflected in mortgage notes payable on the Company’s Condensed Consolidated Balance Sheets.

Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding

Scheduled payments and maturities of mortgage notes payable and unsecured notes outstanding at June 30, 2014 are as follows (dollars in thousands):

Year	Secured notes payments		Secured notes maturities		Unsecured notes maturities		Stated interest rate of unsecured notes
2014	$	9,130	$	—	$	—	5.375	%
2015	17,871		586,703		—		—
2016	19,036		16,255		250,000		5.750	%
2017	20,257		710,491		250,000		5.700	%
2018	19,646		76,930		—		—
2019	7,145		658,475		—		—
2020	6,205		50,824		250,000		6.100	%
					400,000		3.625	%
2021	5,985		27,844		250,000		3.950	%
					250,000		LIBOR + 1.45%
2022	6,352		—		450,000		2.950	%
2023	6,596		—		350,000		4.200	%
					250,000		2.850	%
Thereafter	85,830		1,125,934		—		—
	$	204,053	$	3,253,456	$	2,700,000