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Investments in Partially Owned Entities (Tables) | 6 Months Ended
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Jun. 30, 2015
Investments in Partially Owned Entities [Abstract] |
Partially Owned Property Balance Sheet Schedule [Table Text Block] | The following tables and information summarize the Company’s investments in partially owned entities as of June 30, 2015 (amounts in thousands except for project and apartment unit amounts):
| Consolidated |  | Unconsolidated
| Development Projects |  |  |  |  |  |  |  |
| Held for and/or Under Development |  | Operating |  | Total |  | Operating |  | Total
Total projects (1) | — |  |  | 19 |  |  | 19 |  |  | 3 |  |  | 3 |
Total apartment units (1) | — |  |  | 3,771 |  |  | 3,771 |  |  | 1,281 |  |  | 1,281 |
Balance sheet information at 6/30/15 (at 100%): |  |  |  |  |  |  |  |  |
ASSETS |  |  |  |  |  |  |  |  |
Investment in real estate | $ | 351,977 |  |  | $ | 686,120 |  |  | $ | 1,038,097 |  |  | $ | 290,442 |  |  | $ | 290,442 |
Accumulated depreciation | (2,339 | ) |  | (205,554 | ) |  | (207,893 | ) |  | (24,471 | ) |  | (24,471 | )
Investment in real estate, net | 349,638 |  |  | 480,566 |  |  | 830,204 |  |  | 265,971 |  |  | 265,971 |
Cash and cash equivalents | — |  |  | 17,482 |  |  | 17,482 |  |  | 8,793 |  |  | 8,793 |
Investments in unconsolidated entities | — |  |  | 50,771 |  |  | 50,771 |  |  | — |  |  | — |
Deposits – restricted | 11,609 |  |  | 345 |  |  | 11,954 |  |  | 273 |  |  | 273 |
Deferred financing costs, net | — |  |  | 1,963 |  |  | 1,963 |  |  | 7 |  |  | 7 |
Other assets | 6,988 |  |  | 25,959 |  |  | 32,947 |  |  | 703 |  |  | 703 |
Total assets | $ | 368,235 |  |  | $ | 577,086 |  |  | $ | 945,321 |  |  | $ | 275,747 |  |  | $ | 275,747 |
LIABILITIES AND EQUITY/CAPITAL |  |  |  |  |  |  |  |  |
Mortgage notes payable (2) | $ | — |  |  | $ | 360,654 |  |  | $ | 360,654 |  |  | $ | 175,135 |  |  | $ | 175,135 |
Accounts payable & accrued expenses | 5,756 |  |  | 1,939 |  |  | 7,695 |  |  | 1,486 |  |  | 1,486 |
Accrued interest payable | — |  |  | 1,266 |  |  | 1,266 |  |  | 691 |  |  | 691 |
Other liabilities | 615 |  |  | 819 |  |  | 1,434 |  |  | 325 |  |  | 325 |
Security deposits | 589 |  |  | 2,002 |  |  | 2,591 |  |  | 592 |  |  | 592 |
Total liabilities | 6,960 |  |  | 366,680 |  |  | 373,640 |  |  | 178,229 |  |  | 178,229 |
Noncontrolling Interests – Partially Owned Properties/Partners' equity | 117,350 |  |  | 5,018 |  |  | 122,368 |  |  | 90,878 |  |  | 90,878 |
Company equity/General and Limited Partners' Capital | 243,925 |  |  | 205,388 |  |  | 449,313 |  |  | 6,640 |  |  | 6,640 |
Total equity/capital | 361,275 |  |  | 210,406 |  |  | 571,681 |  |  | 97,518 |  |  | 97,518 |
Total liabilities and equity/capital | $ | 368,235 |  |  | $ | 577,086 |  |  | $ | 945,321 |  |  | $ | 275,747 |  |  | $ | 275,747 |
Partially Owned Property Income Statement Schedule [Table Text Block] |
| Consolidated |  | Unconsolidated
| Development Projects |  |  |  |  |  |  |  |
| Held for and/or Under Development |  |  |  |  |  | Operating |  |
|  | Operating |  | Total |  |  | Total
Operating information for the six months ended 6/30/15 (at 100%): |  |  |  |  |  |  |  |  |
Operating revenue | $ | 1,103 |  |  | $ | 46,071 |  |  | $ | 47,174 |  |  | $ | 15,918 |  |  | $ | 15,918 |
Operating expenses | 851 |  |  | 13,545 |  |  | 14,396 |  |  | 5,388 |  |  | 5,388 |
Net operating income | 252 |  |  | 32,526 |  |  | 32,778 |  |  | 10,530 |  |  | 10,530 |
Depreciation | 2,339 |  |  | 11,073 |  |  | 13,412 |  |  | 6,159 |  |  | 6,159 |
General and administrative/other | 1 |  |  | 41 |  |  | 42 |  |  | 119 |  |  | 119 |
Operating (loss) income | (2,088 | ) |  | 21,412 |  |  | 19,324 |  |  | 4,252 |  |  | 4,252 |
Interest and other income | — |  |  | 5 |  |  | 5 |  |  | — |  |  | — |
Other expenses | — |  |  | (50 | ) |  | (50 | ) |  | — |  |  | — |
Interest: |  |  |  |  |  |  |  |  |
Expense incurred, net | — |  |  | (7,786 | ) |  | (7,786 | ) |  | (4,697 | ) |  | (4,697 | )
Amortization of deferred financing costs | — |  |  | (177 | ) |  | (177 | ) |  | (1 | ) |  | (1 | )
(Loss) income before income and other taxes and (loss) from investments in unconsolidated entities | (2,088 | ) |  | 13,404 |  |  | 11,316 |  |  | (446 | ) |  | (446 | )
Income and other tax (expense) benefit | — |  |  | (35 | ) |  | (35 | ) |  | (18 | ) |  | (18 | )
(Loss) from investments in unconsolidated entities | — |  |  | (739 | ) |  | (739 | ) |  | — |  |  | — |
Net (loss) income | $ | (2,088 | ) |  | $ | 12,630 |  |  | $ | 10,542 |  |  | $ | (464 | ) |  | $ | (464 | )
(1) | Project and apartment unit counts exclude all uncompleted development projects until those projects are substantially completed.
(2) | All debt is non-recourse to the Company.
Note: | The above tables exclude the Company's interests in unconsolidated joint ventures entered into with AvalonBay Communities, Inc. (“AVB”) in connection with the acquisition of certain real estate related assets from Archstone Enterprise LP (such assets are referred to herein as "Archstone"). These ventures own certain non-core Archstone assets that are held for sale and succeeded to certain residual Archstone liabilities/litigation, as well as responsibility for tax protection arrangements and third-party preferred interests in former Archstone subsidiaries. The preferred interests had an aggregate liquidation value of $71.2 million at June 30, 2015. The ventures are owned 60% by the Company and 40% by AVB.

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- Definition Investments in Partially Owned Entities. + References No definition available. + Details
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- Definition Represents a summary of the financial position of the Company's investments in partially owned entities which are either consolidated or accounted for under the equity method of accounting (unconsolidated). Includes development projects, joint ventures and other partnerships. + References No definition available. + Details
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- Definition Represents a summary of the operations of the Company's investments in partially owned entities which are either consolidated or accounted for under the equity method of accounting (unconsolidated). Includes development projects, joint ventures and other partnerships. + References No definition available. + Details
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