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Fair Value (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Schedule of summary of consolidated Hedging Derivatives, excluding derivatives executed to hedge debt on communities classified as held for sale
The following table summarizes the consolidated derivative positions at June 30, 2017 (dollars in thousands):
 
Non-designated
Hedges
Interest Rate Caps
 
Cash Flow
Hedges
Interest Rate Caps
 
Cash Flow
Hedges
Interest Rate Swaps
 
 
 
 
 
 
Notional balance
$
695,642

 
$
35,471

 
$
250,000

Weighted average interest rate (1)
2.7
%
 
3.2
%
 
N/A

Weighted average swapped/capped interest rate
6.1
%
 
5.9
%
 
2.4
%
Earliest maturity date
Aug 2017

 
Apr 2019

 
May 2018

Latest maturity date
Nov 2021

 
Apr 2019

 
May 2018

____________________________________

(1)
For interest rate caps, represents the weighted average interest rate on the hedged debt.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
 
For the three months ended
 
For the six months ended
 
6/30/2017
 
6/30/2016
 
6/30/2017
 
6/30/2016
 
 
 
 
 
 
 
 
Cash flow hedge losses reclassified to earnings
$
1,781

 
$
1,561

 
$
3,534

 
$
2,935
Schedule of summary of classification between the three levels of the fair value hierarchy of the Company's financial instruments measured at fair value on a recurring basis
The following tables summarize the classification between the three levels of the fair value hierarchy of the Company's financial instruments measured/disclosed at fair value on a recurring basis (dollars in thousands):
Description
 
Total Fair Value
 
Quoted Prices
in Active
Markets for Identical Asset
(Level 1)
 
Significant
Other
Observable Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
 
 
 
 
 
 
6/30/2017
Non-Designated Hedges
 
 
 
 
 
 
 
 
Interest Rate Caps
 
$
15

 
$
—

 
$
15

 
$
—

Cash Flow Hedges
 
 
 
 
 
 
 
 
Interest Rate Swaps - Assets
 
674

 
—

 
674

 
—

Interest Rate Swaps - Liabilities
 
(1,612
)
 
—

 
(1,612
)
 
—

Puts
 
(5,928
)
 
—

 
—

 
(5,928
)
DownREIT units
 
(1,441
)
 
(1,441
)
 
—

 
—

Indebtedness
 
 
 
 
 
 
 
 
Unsecured notes
 
(4,972,604
)
 
(4,972,604
)
 
—

 
—

Secured notes payable and unsecured term loan
 
(1,984,423
)
 
—

 
(1,984,423
)
 
—

Total
 
$
(6,965,319
)
 
$
(4,974,045
)
 
$
(1,985,346
)
 
$
(5,928
)
Description
 
Total Fair Value
 
Quoted Prices
in Active
Markets for Identical Asset
(Level 1)
 
Significant
Other
Observable Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
 
 
 
 
 
 
12/31/2016
Non-Designated Hedges
 
 
 
 
 
 
 
 
Interest Rate Caps
 
$
79

 
$
—

 
$
79

 
$
—

Cash Flow Hedges
 
 
 
 
 
 
 
 
Interest Rate Caps
 
2

 
—

 
2

 
—

Interest Rate Swaps - Assets
 
14,775

 
—

 
14,775

 
—

Puts
 
(6,002
)
 
—

 
—

 
(6,002
)
DownREIT units
 
(1,329
)
 
(1,329
)
 
—

 
—

Indebtedness
 
 
 
 
 
 
 
 
Unsecured notes
 
(4,218,627
)
 
(4,218,627
)
 
—

 
—

Secured notes payable and unsecured term loan
 
(2,744,462
)
 
—

 
(2,744,462
)
 
—

Total
 
$
(6,955,564
)
 
$
(4,219,956
)
 
$
(2,729,606
)
 
$
(6,002
)