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Notes Payable (Tables)
 9 Months Ended
Sep. 30, 2016
Notes To Financial Statements [Abstract]  
Debt Structure [Table Text Block]
Total Outstanding Debt

The following table summarizes our indebtedness at September 30, 2016, (dollars in thousands):

 
Borrowed
Balance
 
Effective
Rate
 
Average Contract
Maturity
Fixed Rate Secured Debt
 
 
 
 
 
Individual property mortgages
$
972,948

 
4.0
%
 
8/21/2019
Fannie Mae conventional credit facility
50,000

 
4.7
%
 
3/31/2017
Total fixed rate secured debt
$
1,022,948

 
4.0
%
 
7/11/2019
 
 
 
 
 
 
Variable Rate Secured Debt (1)
 

 
 

 
 
Fannie Mae conventional credit facility
190,000

 
1.0
%
 
8/26/2017
Total variable rate secured debt
$
190,000

 
1.2
%
 
8/26/2017
 
 
 
 
 
 
Fair market value adjustments and debt issuance costs
25,220

 
 
 
 
Total Secured Debt
$
1,238,168

 
3.5
%
 
3/25/2019
 
 
 
 
 
 
Unsecured Debt
 

 
 

 
 
Variable rate credit facility
$
205,000

 
1.5
%
 
4/15/2020
Term loan fixed with swaps
550,000

 
3.1
%
 
11/10/2017
Fixed rate bonds
1,460,000

 
4.1
%
 
1/26/2024
Fair market value adjustments, debt issuance costs and discounts
(19,011
)
 
 
 
 
Total Unsecured Debt
$
2,195,989

 
3.6
%
 
2/26/2022
 
 
 
 
 
 
Total Outstanding Debt
$
3,434,157

 
3.6
%
 
2/6/2021

(1) Includes capped balances.