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Notes Payable, Unsecured Notes and Credit Facility (Details 2) (USD $) | 3 Months Ended | 9 Months Ended |  | 1 Months Ended |  |  | 1 Months Ended |  |  |  |  |  | 1 Months Ended |  | 9 Months Ended |  |  |  |  |  | 9 Months Ended
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Sep. 30, 2014 community | Sep. 30, 2013 | Sep. 30, 2014 community | Sep. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 Mortgage notes payable | Sep. 30, 2014 Mortgage notes payable community | Dec. 31, 2013 Mortgage notes payable | Apr. 30, 2014 Unsecured notes | Sep. 30, 2014 Unsecured notes | Dec. 31, 2013 Unsecured notes | Sep. 30, 2014 Term Loan | Mar. 31, 2014 Term Loan | Apr. 30, 2014 Secured Mortgage | Jun. 30, 2014 Notes payable maturing in 2015 Mortgage notes payable | Sep. 30, 2014 Notes payable maturing in 2015 Mortgage notes payable | Sep. 30, 2014 Variable rate unsecured credit facility extension | Dec. 31, 2013 Variable rate unsecured credit facility | Sep. 30, 2014 Fixed rate mortgage notes payable | Dec. 31, 2013 Fixed rate mortgage notes payable | Sep. 30, 2014 Variable rate mortgage notes payable, unsecured term loan and Credit Facility | Dec. 31, 2013 Variable rate mortgage notes payable, unsecured term loan and Credit Facility | Sep. 30, 2014 LIBOR Term Loan Unsecured notes | Sep. 30, 2014 LIBOR Secured Mortgage | Sep. 30, 2014 LIBOR Variable rate unsecured credit facility
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Principal amount of notes issued |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 300,000,000 | $ 300,000,000 | $ 53,000,000 |  |  |  |  |  |  |  |  |  |  |
Amount drawn |  |  |  |  |  |  | 1,048,118,000 |  | 1,011,609,000 |  |  |  |  |  |  | 250,000,000 |  | 38,000,000 |  |  |  |  |  |  |  |  |  |  |
Additional amount with option to draw |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 50,000,000 |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate notes |  |  |  |  |  |  | 2,405,000,000 | [1] | 2,418,389,000 | [1] |  | 2,450,000,000 | [2] | 2,600,000,000 | [2] |  |  | 15,000,000 |  |  |  |  |  |  |  |  |  |  |
Fixed rate (as a percent) |  |  |  |  |  |  |  |  |  |  | 5.375% |  |  |  |  |  |  | 2.99% |  | 6.19% |  |  |  |  |  |  |  |  |
Repayment of unsecured notes |  |  | 150,000,000 | 100,000,000 |  |  |  |  |  |  | 150,000,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repayments of secured mortgages |  |  |  |  |  | 5,914,000 |  |  |  |  |  |  |  |  |  |  |  |  | 10,427,000 |  |  |  |  |  |  |  |  |  |
Number of operating apartment communities | 247 |  | 247 |  |  |  | 8 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss on extinguishment of debt, net | 0 | 0 | 412,000 | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available borrowing capacity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,300,000,000 |  |  |  |  |  |  |  |
Line of credit facility, extension period |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 year |  |  |  |  |  |  |  |
Number of extension options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  |
Extension period under each option |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6 months |  |  |  |  |  |  |  |
Extension fee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,950,000 |  |  |  |  |  |  |  |
Debt instrument variable rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | LIBOR | LIBOR |
Debt instrument, basis spread on variable rate (as a percent) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.45% | 2.00% | 1.05%
Current interest rate (as a percent) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.20%
Period of borrowing rate assumed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 month |  |  |  |  |  |  |  |
Annual facility fee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,950,000 |  |  |  |  |  |  |  |
Variable rate unsecured credit facility | 0 |  | 0 |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0 |  |  |  |  |  |  |
Outstanding balance of letters of credit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 52,347,000 | 65,018,000 |  |  |  |  |  |  |
Net carrying value of apartment communities and improved land parcels securing debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,440,175,000 |  |  |  |  |  |  |  |
Mortgage notes payable held by wholly owned subsidiaries guaranteed by the Company |  |  |  |  |  |  | $ 257,970,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average interest rate, debt (as a percent) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4.50% | 4.50% | 1.80% | 1.80% |  |  |
[1] | Balances at September 30, 2014 and December 31, 2013 exclude $93,351 and $120,684 of debt premium, respectively, as reflected in mortgage notes payable on the Company’s Condensed Consolidated Balance Sheets.
[2] | Balances at September 30, 2014 and December 31, 2013 exclude $4,701 and $5,291 of debt discount, respectively, as reflected in unsecured notes, net on the Company’s Condensed Consolidated Balance Sheets.

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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 22 -Article 5 + Details
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