Notes Payable, Unsecured Notes and Credit Facility (Tables)

6 Months Ended

Jun. 30, 2015

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, 2015 and December 31, 2014, as shown in the Condensed Consolidated Balance Sheets (dollars in thousands) (see Note 6, “Real Estate Disposition Activities”).

	6/30/2015		12/31/2014
Fixed rate unsecured notes (1)	$	3,275,000	$	2,750,000
Term Loan	300,000		250,000
Fixed rate mortgage notes payable - conventional and tax-exempt (2)	1,812,557		2,400,677
Variable rate mortgage notes payable - conventional and tax-exempt (2)	1,046,332		1,047,461
Total mortgage notes payable and unsecured notes	6,433,889		6,448,138
Credit Facility	—		—
Total mortgage notes payable, unsecured notes and Credit Facility	$	6,433,889	$	6,448,138

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(1) Balances at June 30, 2015 and December 31, 2014 exclude $7,169 and $6,735 of debt discount, respectively, as reflected in unsecured notes, net on the Company’s Condensed Consolidated Balance Sheets.

(2) Balances at June 30, 2015 and December 31, 2014 exclude $60,410 and $84,449 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, 2015 are as follows (dollars in thousands):

Year	Secured notes payments		Secured notes maturities		Unsecured notes maturities		Stated interest rate of unsecured notes
2015	$	8,443	$	104,198	$	—	—	%
2016	17,298		16,256		250,000		5.750	%
2017	18,365		710,091		250,000		5.700	%
2018	17,632		76,940		—		—	%
2019	6,440		588,428		—		—	%
2020	5,475		50,825		250,000		6.100	%
					400,000		3.625	%
2021	5,516		27,844		250,000		3.950	%
					300,000		LIBOR + 1.450%
2022	5,881		—		450,000		2.950	%
2023	6,255		—		350,000		4.200	%
					250,000		2.850	%
2024	5,567		—		300,000		3.500	%
Thereafter	—		1,187,435		525,000		3.450	%
	$	96,872	$	2,762,017	$	3,575,000