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Investments in Real Estate Entities (Tables) | 12 Months Ended
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Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract] |
Combined summary of the financial position of the entities accounted for using the equity method | The following is a combined summary of the financial position of the entities accounted for using the equity method as of the dates presented, excluding amounts associated with development joint ventures, the Residual JV and Legacy JV (dollars in thousands):
| 12/31/16 |  | 12/31/15
Assets: |  |  |  |  |
Real estate, net | $ | 954,493 |  |  | $ | 1,392,833 |
Other assets | 49,519 |  |  | 57,044 |
Total assets | $ | 1,004,012 |  |  | $ | 1,449,877 |
Liabilities and partners' capital: |  |  |  |  |
Mortgage notes payable, net and credit facility | $ | 689,573 |  |  | $ | 947,205 |
Other liabilities | 16,537 |  |  | 20,471 |
Partners' capital | 297,902 |  |  | 482,201 |
Total liabilities and partners' capital | $ | 1,004,012 |  |  | $ | 1,449,877 |
Combined summary of the operating results of the entities accounted for using the equity method | The following is a combined summary of the operating results of the entities accounted for using the equity method, for the years presented, excluding amounts associated with development joint ventures, Avalon Clarendon, the Residual JV and Legacy JV (dollars in thousands):
| For the year ended
| 12/31/16 |  | 12/31/15 |  | 12/31/14
Rental and other income | $ | 131,901 |  |  | $ | 173,578 |  |  | $ | 198,939 |
Operating and other expenses | (50,945 | ) |  | (67,962 | ) |  | (80,301 | )
Gain on sale of communities | 196,749 |  |  | 98,899 |  |  | 333,221 |
Interest expense, net (1) | (45,886 | ) |  | (45,517 | ) |  | (61,458 | )
Depreciation expense | (34,471 | ) |  | (45,324 | ) |  | (52,116 | )
Net income | $ | 197,348 |  |  | $ | 113,674 |  |  | $ | 338,285 |
Equity in income of unconsolidated entities | The following is a summary of the Company's equity in income of unconsolidated real estate entities for the years presented (dollars in thousands):
| For the year ended
| 12/31/16 |  | 12/31/15 |  | 12/31/14
Fund I (1) | $ | 87 |  |  | $ | 871 |  |  | $ | 475 |
Fund II (2) | 49,882 |  |  | 32,211 |  |  | 24,808 |
U.S. Fund (3) | 15,635 |  |  | 2,052 |  |  | 342 |
AC JV | 1,445 |  |  | 511 |  |  | 1,579 |
MVP I, LLC (4) | 1,627 |  |  | 22,453 |  |  | 1,651 |
Brandywine | 10 |  |  | (1,474 | ) |  | 828 |
CVP I, LLC (5) | 9 |  |  | 1,812 |  |  | 113,127 |
Residual JV | (1,374 | ) |  | 11,582 |  |  | 3,547 |
Avalon Clarendon (6) | (2,359 | ) |  | — |  |  | — |
Arna Valley View LP (1) | — |  |  | — |  |  | 2,406 |
Juanita Village (1) | — |  |  | — |  |  | 3 |
Total | $ | 64,962 |  |  | $ | 70,018 |  |  | $ | 148,766 |
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(1) | The Company's equity in income for this entity represents its residual profits from the sale of the community, or liquidation of the venture.
(2) | Equity in income for the years ended December 31, 2016, 2015 and 2014 includes the Company's proportionate share of the gain on the sale of Fund II assets of $41,501, $29,726, and $21,624 respectively. In addition, equity in income for the year ended December 31, 2016 includes $7,985 relating to the Company's recognition of its promoted interest.
(3) | Equity in income for the year ended December 31, 2016 includes the Company's proportionate share of the gain on the sale of U.S. Fund assets of $16,568.
(4) | Equity in income for the years ended December 31, 2015 and 2014 includes $21,340 and $930, respectively, relating to the Company's recognition of its promoted interest. For 2015, $20,680 was from the joint venture partner upon agreement to modify the joint venture agreement to eliminate the Company's promoted interest from associated distribution for future return calculations.
(5) | Equity in income for the years ended December 31, 2015 and 2014 includes $1,289 and $61,218, respectively, relating to the Company's recognition of its promoted interest. Amount for 2014 also includes $50,478 related to the disposition of Avalon Chrystie Place.
(6) | In September 2016, the Company and its venture partner established separate legal ownership of Avalon Clarendon, after which the Company reported the operating results of Avalon Clarendon as part of its consolidated operations.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 + Details
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