XML 65 R44.htm IDEA: XBRL DOCUMENT v3.6.0.2
Real Estate Investments - Co-Investments (Details)
$ in Thousands
1 Months Ended 12 Months Ended
Dec. 31, 2016
USD ($)
unit
Nov. 30, 2016
USD ($)
property
Aug. 31, 2015
USD ($)
Mar. 31, 2015
USD ($)
community
Dec. 31, 2016
USD ($)
community
unit
Dec. 31, 2015
USD ($)
community
unit
Dec. 31, 2014
USD ($)
community
unit
Dec. 31, 2010
Business Acquisition [Line Items]                
Gain on disposal of equity method investment     $ 1,500   $ 13,046 $ 0 $ 6,558  
Ownership Percentage               3.00%
Co-investment $ 1,161,275   $ 20,400 $ 13,700 1,161,275 1,036,047    
Real estate under development 190,505       190,505 242,326    
Other liabilities 32,922       32,922 34,518    
Gain on sale of real estate       $ 2,400 14,000 44,900 43,600  
Interest expense         (219,654) (204,827) (164,551)  
General and administrative         (40,751) (40,090) (40,878)  
Equity income in co-investments         $ 48,698 $ 21,861 $ 39,893  
Number of communities sold | community       2 3 2 4  
Number of units sold | unit         323 848 594  
Sales Price       $ 13,000 $ 80,800 $ 308,800 $ 120,400  
Investments With Related Parties [Member]                
Business Acquisition [Line Items]                
Equity income in co-investments         3,400 3,700    
BEXAWE, LLC [Member]                
Business Acquisition [Line Items]                
Gain on sale of real estate         $ 13,000      
Number of communities sold | community         2      
Number of units sold | unit         532      
Sales Price         $ 147,300      
Preferred Interest In A Limited Liability Company That Owns An Apartment Development In San Jose With A Preferred Return Of Nine Percent [Member]                
Business Acquisition [Line Items]                
Equity method investment, ownership percentage   50.10%            
Co-investment   $ 12,900            
Total operating co investments [Member]                
Business Acquisition [Line Items]                
Co-investment $ 781,905       $ 781,905 $ 831,521    
Number of apartments owned through joint ventures | unit 11,274       11,274 10,520    
Total operating co investments [Member] | Minimum [Member]                
Business Acquisition [Line Items]                
Equity method investment, ownership percentage 50.00%       50.00%      
Total operating co investments [Member] | Maximum [Member]                
Business Acquisition [Line Items]                
Equity method investment, ownership percentage 55.00%       55.00%      
BEX II [Member]                
Business Acquisition [Line Items]                
Equity method investment, ownership percentage 49.90%       49.90%      
Number of properties contributed into new entity | property   4            
Gain on disposal of equity method investment $ 126,600              
Ownership Percentage         50.00%      
Co-investment 19,078       $ 19,078 $ 0    
CPPIB [Member]                
Business Acquisition [Line Items]                
Co-investment 422,068       $ 422,068 422,317    
CPPIB [Member] | Minimum [Member]                
Business Acquisition [Line Items]                
Ownership Percentage         50.00%      
CPPIB [Member] | Maximum [Member]                
Business Acquisition [Line Items]                
Ownership Percentage         55.00%      
Wesco I, III, and IV [Member]                
Business Acquisition [Line Items]                
Ownership Percentage         50.00%      
Co-investment 180,687       $ 180,687 218,902    
Palm Valley [Member]                
Business Acquisition [Line Items]                
Ownership Percentage         50.00%      
Co-investment 68,396       $ 68,396 68,525    
BEXAEW [Member]                
Business Acquisition [Line Items]                
Ownership Percentage         50.00%      
Co-investment 47,963       $ 47,963 88,850    
Other [Member]                
Business Acquisition [Line Items]                
Co-investment 43,713       $ 43,713 32,927    
Other [Member] | Minimum [Member]                
Business Acquisition [Line Items]                
Ownership Percentage         50.00%      
Other [Member] | Maximum [Member]                
Business Acquisition [Line Items]                
Ownership Percentage         55.00%      
Total development co investments [Member]                
Business Acquisition [Line Items]                
Co-investment $ 157,317       $ 157,317 $ 98,214    
Number of apartments owned through joint ventures | unit 1,427       1,427 1,676    
Total development co investments [Member] | Minimum [Member]                
Business Acquisition [Line Items]                
Equity method investment, ownership percentage 50.00%       50.00%      
Ownership Percentage         50.00%      
Total development co investments [Member] | Maximum [Member]                
Business Acquisition [Line Items]                
Equity method investment, ownership percentage 55.00%       55.00%      
Ownership Percentage         55.00%      
Total preferred interest investments [Member]                
Business Acquisition [Line Items]                
Co-investment $ 222,053       $ 222,053 $ 106,312    
Total preferred interest investments [Member] | Investments in Majority-owned Subsidiaries [Member]                
Business Acquisition [Line Items]                
Co-investment 35,900       35,900 35,800    
Total co investment [Member]                
Business Acquisition [Line Items]                
Real estate under development 3,807,245       3,807,245 3,360,360    
Other assets 121,505       121,505 96,785    
Total assets 3,928,750       3,928,750 3,457,145    
Debt 1,617,639       1,617,639 1,499,601    
Other liabilities 74,607       74,607 92,241    
Equity 2,236,504       2,236,504 1,865,303    
Total liabilities and equity 3,928,750       3,928,750 3,457,145    
Company's share of equity $ 1,161,275       1,161,275 1,036,047    
Property revenues         289,011 260,175 188,548  
Property operating expenses         (99,637) (93,067) (71,419)  
Net operating income         189,374 167,108 117,129  
Gain on sale of real estate         28,291 14 23,333  
Interest expense         (46,894) (44,834) (39,990)  
General and administrative         (7,448) (5,879) (6,321)  
Equity income in co-investments         0 0 26,798  
Depreciation and amortization         (103,986) (103,613) (74,657)  
Net income         59,337 12,796 46,292  
Company's share of net income         $ 48,698 $ 21,861 $ 39,893