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Discontinued Operations
 12 Months Ended
Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations

The Company determined that the disposals through the year ended December 31, 2014 were not a discontinued operation in accordance with ASU 2014-018. The gains related to these disposals are recorded in gains on sale of real estate and land in the consolidated statements of income.

During 2013, the Company sold Linden Square, a 183 unit community located in Seattle, Washington for $25.3 million, resulting in a gain of $12.7 million. Also during 2013, the Company sold Cambridge, a 40 unit property located in Chula Vista, California for $4.7 million, resulting in a gain of $2.5 million, and Brentwood, a 140 unit property located in Santa Ana, California for $27.5 million, resulting in a gain of $14.0 million.

During 2012, the Company sold two communities for a total of $28.3 million resulting in gains totaling $10.9 million.

The Company has recorded the gains on sales and operations for these various assets sold described above as part of discontinued operations in the accompanying consolidated statements of income.  The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets, as described above ($ in thousands):

 
2013
 
2012
Revenues
$
4,454

 
$
5,848

Property operating expenses
(1,406
)
 
(2,181
)
Depreciation and amortization
(1,098
)
 
(1,513
)
Expenses
(2,504
)
 
(3,694
)
Operating income from real estate sold
1,950

 
2,154

Gain on sale of real estate
29,223

 
10,870

Internal disposition costs
—

 
(1,087
)
Income from discontinued operations
$
31,173

 
$
11,937