Mortgage Notes Payable, Unsecured Notes and Credit Facility (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Summary of company's mortgage notes payable, unsecured notes, term loan and credit facility

The following amounts and discussion do not include the mortgage notes related to the communities classified as held for sale, if any, as of December 31, 2015 and December 31, 2014, as shown in the Consolidated Balance Sheets (dollars in thousands) (see Note 6, "Real Estate Disposition Activities").

	12/31/15		12/31/14
Fixed rate unsecured notes (1)	$	3,575,000	$	2,750,000
Term Loan	300,000		250,000
Fixed rate mortgage notes payable—conventional and tax-exempt (2)	1,561,109		2,400,677
Variable rate mortgage notes payable—conventional and tax-exempt (2)	1,045,182		1,047,461
Total notes payable and unsecured notes	6,481,291		6,448,138
Credit Facility	—		—
Total mortgage notes payable, unsecured notes and Credit Facility	$	6,481,291	$	6,448,138

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(1) Balances at December 31, 2015 and December 31, 2014 exclude $7,601 and $6,735, respectively, of debt discount, and $21,725 and $17,732, respectively, of deferred financing costs, as reflected in unsecured notes, net on the Company's Consolidated Balance Sheets.

(2) Balances at December 31, 2015 and December 31, 2014 exclude $19,686 and $84,449, respectively, of debt premium, and $14,703 and $18,413, respectively, of deferred financing costs, as reflected in mortgage notes payable, net on the Company's 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 December 31, 2015 are as follows (dollars in thousands):

Year	Secured notes payments		Secured notes maturities		Unsecured notes maturities		Stated interest rate of unsecured notes
2016	$	16,164	$	16,255	$	250,000	5.750	%
2017	17,166		709,891		250,000		5.700	%
2018	16,236		76,950		—		—	%
2019	4,696		588,429		—		—	%
2020	3,624		50,825		250,000		6.100	%
					400,000		3.625	%
2021	3,551		27,844		250,000		3.950	%
					300,000		LIBOR + 1.450%
2022	3,795		—		450,000		2.950	%
2023	4,040		—		350,000		4.200	%
					250,000		2.850	%
2024	4,310		—		300,000		3.500	%
2025	4,553		84,835		525,000		3.450	%
					300,000		3.500	%
Thereafter	218,678		754,449		—		—	%
	$	296,813	$	2,309,478	$	3,875,000