Business Segments (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||||
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Jun. 30, 2013
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Jun. 30, 2012
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Jun. 30, 2013
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Jun. 30, 2012
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Summary information for the reportable segments | ||||||||||||
Rental and other property revenues | $ 251,853 | [1] | $ 244,374 | [1] | $ 499,700 | [1] | $ 488,279 | [1] | ||||
Tax credit and asset management revenues | 7,809 | 8,914 | 15,061 | 16,985 | ||||||||
Total revenues | 259,662 | 253,288 | 514,761 | 505,264 | ||||||||
Property operating expenses | 101,717 | [1] | 99,807 | [1] | 203,420 | [1] | 198,418 | [1] | ||||
Investment management expenses | 1,697 | 3,240 | 3,130 | [1] | 6,628 | |||||||
Depreciation and amortization | 78,345 | [1] | 87,229 | [1] | 158,618 | 173,795 | [1] | |||||
Provision for real estate impairment losses | 0 | 2,275 | 0 | 8,349 | [1] | |||||||
General and administrative expenses | 11,153 | 13,556 | 22,932 | 25,181 | ||||||||
Other expenses, net | 2,226 | (957) | 4,436 | 4,772 | ||||||||
Total operating expenses | 195,138 | 205,150 | 392,536 | 417,143 | ||||||||
Net operating income (loss) | 64,524 | 48,138 | 122,225 | 88,121 | ||||||||
Other items included in continuing operations | (60,336) | (55,619) | (117,394) | (118,219) | ||||||||
Income (loss) from continuing operations | 4,188 | (7,481) | 4,831 | (30,098) | ||||||||
Conventional Real Estate Operations [Member]
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Summary information for the reportable segments | ||||||||||||
Rental and other property revenues | 213,331 | [1] | 200,795 | [1] | 422,830 | [1] | 398,360 | [1] | ||||
Tax credit and asset management revenues | ||||||||||||
Total revenues | 213,331 | 200,795 | 422,830 | 398,360 | ||||||||
Property operating expenses | 77,606 | [1] | 72,947 | [1] | 154,933 | [1] | 145,564 | [1] | ||||
Investment management expenses | [1] | |||||||||||
Depreciation and amortization | [1] | [1] | [1] | |||||||||
Provision for real estate impairment losses | [1] | [1] | ||||||||||
General and administrative expenses | ||||||||||||
Other expenses, net | 0 | |||||||||||
Total operating expenses | 77,606 | 72,947 | 154,933 | 145,564 | ||||||||
Net operating income (loss) | 135,725 | 127,848 | 267,897 | 252,796 | ||||||||
Other items included in continuing operations | 0 | |||||||||||
Income (loss) from continuing operations | 135,725 | 127,848 | 267,897 | 252,796 | ||||||||
Affordable Real Estate Operations [Member]
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Summary information for the reportable segments | ||||||||||||
Rental and other property revenues | 25,494 | [1] | 25,162 | [1] | 50,876 | [1] | 50,092 | [1] | ||||
Tax credit and asset management revenues | ||||||||||||
Total revenues | 25,494 | 25,162 | 50,876 | 50,092 | ||||||||
Property operating expenses | 10,123 | [1] | 9,808 | [1] | 20,682 | [1] | 19,751 | [1] | ||||
Investment management expenses | [1] | |||||||||||
Depreciation and amortization | [1] | [1] | [1] | |||||||||
Provision for real estate impairment losses | [1] | [1] | ||||||||||
General and administrative expenses | ||||||||||||
Other expenses, net | 0 | |||||||||||
Total operating expenses | 10,123 | 9,808 | 20,682 | 19,751 | ||||||||
Net operating income (loss) | 15,371 | 15,354 | 30,194 | 30,341 | ||||||||
Other items included in continuing operations | 0 | |||||||||||
Income (loss) from continuing operations | 15,371 | 15,354 | 30,194 | 30,341 | ||||||||
Proportionate Adjustments [Member]
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Summary information for the reportable segments | ||||||||||||
Rental and other property revenues | 13,008 | [1],[2] | 18,301 | [1],[2] | 25,951 | [1],[2] | 39,576 | [1],[2] | ||||
Tax credit and asset management revenues | [2] | [2] | [2] | [2] | ||||||||
Total revenues | 13,008 | [2] | 18,301 | [2] | 25,951 | [2] | 39,576 | [2] | ||||
Property operating expenses | 4,806 | [1],[2] | 8,355 | [1],[2] | 9,706 | [1],[2] | 15,386 | [1],[2] | ||||
Investment management expenses | [2] | [2] | [1],[2] | [2] | ||||||||
Depreciation and amortization | [1],[2] | [1],[2] | [2] | [1],[2] | ||||||||
Provision for real estate impairment losses | [1],[2] | [1],[2] | ||||||||||
General and administrative expenses | [2] | [2] | [2] | [2] | ||||||||
Other expenses, net | [2] | [2] | [2] | 0 | [2] | |||||||
Total operating expenses | 4,806 | [2] | 8,355 | [2] | 9,706 | [2] | 15,386 | [2] | ||||
Net operating income (loss) | 8,202 | [2] | 9,946 | [2] | 16,245 | [2] | 24,190 | [2] | ||||
Other items included in continuing operations | [2] | [2] | [2] | 0 | [2] | |||||||
Income (loss) from continuing operations | 8,202 | [2] | 9,946 | [2] | 16,245 | [2] | 24,190 | [2] | ||||
Corporate and Amounts Not Allocated to Segments [Member]
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Summary information for the reportable segments | ||||||||||||
Rental and other property revenues | 20 | [1] | 116 | [1] | 43 | [1] | 251 | [1] | ||||
Tax credit and asset management revenues | 7,809 | 8,914 | 15,061 | 16,985 | ||||||||
Total revenues | 7,829 | 9,030 | 15,104 | 17,236 | ||||||||
Property operating expenses | 9,182 | [1] | 8,697 | [1] | 18,099 | [1] | 17,717 | [1] | ||||
Investment management expenses | 1,697 | 3,240 | 3,130 | [1] | 6,628 | |||||||
Depreciation and amortization | 78,345 | [1] | 87,229 | [1] | 158,618 | 173,795 | [1] | |||||
Provision for real estate impairment losses | 2,275 | [1] | 8,349 | [1] | ||||||||
General and administrative expenses | 11,153 | 13,556 | 22,932 | 25,181 | ||||||||
Other expenses, net | 2,226 | (957) | 4,436 | 4,772 | ||||||||
Total operating expenses | 102,603 | 114,040 | 207,215 | 236,442 | ||||||||
Net operating income (loss) | (94,774) | (105,010) | (192,111) | (219,206) | ||||||||
Other items included in continuing operations | (60,336) | (55,619) | (117,394) | (118,219) | ||||||||
Income (loss) from continuing operations | $ (155,110) | $ (160,629) | $ (309,505) | $ (337,425) | ||||||||
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