XML 111 R86.htm IDEA: XBRL DOCUMENT v3.3.1.900
Joint Ventures (Details 1) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Financial information relating to unconsolidated joint ventures operations      
Revenues $ 219,714 $ 193,453 $ 142,842
Real estate depreciation and amortization (75,492) 69,399 51,830
Net loss 175,850 (42,667) (36,075)
Income/(loss) from unconsolidated entities 62,329 (7,006) (415)
Combined summary of balance sheets relating to unconsolidated joint ventures      
Real estate, net 3,135,757 2,941,803  
Total assets 3,202,128 3,208,392  
Amount due to UDR 7,266 2,997  
Third party debt 1,614,463 1,493,619  
Total liabilities 1,717,252 1,770,657  
Total equity 1,484,876 1,437,735  
Investment in and advances to unconsolidated joint ventures, net 938,906 718,226  
Equity Method of Investment Summarized Financial Information, Liabilities Sold or Held For Sale   229,706  
Equity Method of Investment Summarized Financial Information, Assets Sold or Held For Sale   216,196  
Property operating expenses (87,500) 72,099 49,390
Operating income/(loss) 56,722 51,955 41,622
Interest expense (64,990) (58,591) (45,726)
Other income/(expense)     1
Income/(loss) from discontinued operations 184,118 (36,031) (31,972)
Cash and cash equivalents 36,480 32,544  
Other assets 29,891 17,849  
Deferred Finance Costs, Net   0  
Accounts payable and accrued liabilities 95,523 44,335  
MetLife I      
Financial information relating to unconsolidated joint ventures operations      
Revenues 541 727 691
Real estate depreciation and amortization (818) 2,130 115
Net loss (1,203) (33,823) (22,433)
Income/(loss) from unconsolidated entities (513) (2,955) (4,675)
Combined summary of balance sheets relating to unconsolidated joint ventures      
Real estate, net 92,915 89,482  
Total assets 94,291 93,297  
Amount due to UDR 2 107  
Third party debt 0 0  
Total liabilities 397 5,966  
Total equity 93,894 87,331  
Investment in and advances to unconsolidated joint ventures, net 15,894 13,306  
Equity Method of Investment Summarized Financial Information, Liabilities Sold or Held For Sale   5,110  
Equity Method of Investment Summarized Financial Information, Assets Sold or Held For Sale   1,978  
Property operating expenses (906) 618 621
Operating income/(loss) (1,183) (2,021) (45)
Interest expense 0 0 0
Other income/(expense)     0
Income/(loss) from discontinued operations (20) (31,802) (22,388)
Cash and cash equivalents 1,202 1,983  
Other assets 174 (146)  
Accounts payable and accrued liabilities 395 749  
MetLife II      
Financial information relating to unconsolidated joint ventures operations      
Revenues 170,062 152,047 109,926
Real estate depreciation and amortization (46,616) 41,504 30,122
Net loss 7,893 9,900 8,941
Income/(loss) from unconsolidated entities 3,578 2,814 4,471
Combined summary of balance sheets relating to unconsolidated joint ventures      
Real estate, net 1,942,630 1,986,237  
Total assets 1,988,311 2,014,420  
Amount due to UDR 0 (444)  
Third party debt 1,122,662 1,140,458  
Total liabilities 1,146,906 1,157,587  
Total equity 841,405 856,833  
Investment in and advances to unconsolidated joint ventures, net 425,230 431,277  
Equity Method of Investment Summarized Financial Information, Liabilities Sold or Held For Sale   0  
Equity Method of Investment Summarized Financial Information, Assets Sold or Held For Sale   0  
Property operating expenses (63,516) 52,150 33,809
Operating income/(loss) 59,930 58,393 45,995
Interest expense (52,037) (48,493) (37,055)
Other income/(expense)     1
Income/(loss) from discontinued operations 0 0 0
Cash and cash equivalents 20,767 15,245  
Other assets 24,914 12,938  
Accounts payable and accrued liabilities 24,244 17,573  
Unconsolidated Joint Venture Other MetLife [Member]      
Financial information relating to unconsolidated joint ventures operations      
Revenues 7,634 1,579 5,324
Real estate depreciation and amortization (6,897) 3,959 3,564
Net loss (5,655) (3,596) (2,445)
Income/(loss) from unconsolidated entities 6,088 576 6,224
Combined summary of balance sheets relating to unconsolidated joint ventures      
Real estate, net 604,611 351,861  
Total assets 612,528 359,201  
Amount due to UDR 5,929 843  
Third party debt 201,114 65,408  
Total liabilities 269,310 84,102  
Total equity 343,218 275,099  
Investment in and advances to unconsolidated joint ventures, net 407,102 197,646  
Equity Method of Investment Summarized Financial Information, Liabilities Sold or Held For Sale   0  
Equity Method of Investment Summarized Financial Information, Assets Sold or Held For Sale   0  
Property operating expenses (3,826) 1,122 3,292
Operating income/(loss) (3,089) (3,502) (1,532)
Interest expense (2,566) (94) (913)
Other income/(expense)     0
Income/(loss) from discontinued operations 0 0 0
Cash and cash equivalents 5,996 6,239  
Other assets 1,921 1,101  
Accounts payable and accrued liabilities 62,267 17,851  
Unconsolidated Joint Venture Vitruvian Park [Member]      
Financial information relating to unconsolidated joint ventures operations      
Revenues 22,139 19,376 7,680
Real estate depreciation and amortization (6,639) 7,380 3,830
Net loss (867) (2,846) (2,669)
Income/(loss) from unconsolidated entities (3,711) (4,068) (2,851)
Combined summary of balance sheets relating to unconsolidated joint ventures      
Real estate, net 273,897 278,600  
Total assets 283,399 288,418  
Amount due to UDR 908 1,960  
Third party debt 126,388 122,964  
Total liabilities 134,433 131,690  
Total equity 148,966 156,728  
Investment in and advances to unconsolidated joint ventures, net 73,469 80,302  
Equity Method of Investment Summarized Financial Information, Liabilities Sold or Held For Sale   0  
Equity Method of Investment Summarized Financial Information, Assets Sold or Held For Sale   0  
Property operating expenses (11,519) 10,711 4,633
Operating income/(loss) 3,981 1,285 (783)
Interest expense (4,848) (4,131) (1,886)
Other income/(expense)     0
Income/(loss) from discontinued operations 0 0 0
Cash and cash equivalents 7,185 6,570  
Other assets 2,317 3,248  
Accounts payable and accrued liabilities 7,137 6,766  
Texas JV      
Financial information relating to unconsolidated joint ventures operations      
Revenues 0 0 0
Real estate depreciation and amortization 0 0 0
Net loss 184,138 (4,229) (9,584)
Income/(loss) from unconsolidated entities 59,424 (772) (1,218)
Combined summary of balance sheets relating to unconsolidated joint ventures      
Real estate, net 0 0  
Total assets 10 214,218  
Amount due to UDR 0 0  
Third party debt 0 0  
Total liabilities 0 224,596  
Total equity 10 (10,378)  
Investment in and advances to unconsolidated joint ventures, net 0 (25,901)  
Equity Method of Investment Summarized Financial Information, Liabilities Sold or Held For Sale   224,596  
Equity Method of Investment Summarized Financial Information, Assets Sold or Held For Sale   214,218  
Property operating expenses 0 0 0
Operating income/(loss) 0 0 0
Interest expense 0 0 0
Other income/(expense)     0
Income/(loss) from discontinued operations 184,138 (4,229) (9,584)
Cash and cash equivalents 10 0  
Other assets 0 0  
Accounts payable and accrued liabilities 0 0  
KFH      
Financial information relating to unconsolidated joint ventures operations      
Revenues 19,338 19,724 19,221
Real estate depreciation and amortization (14,522) 14,426 14,199
Net loss (8,456) (8,073) (7,885)
Income/(loss) from unconsolidated entities (2,537) (2,601) (2,366)
Combined summary of balance sheets relating to unconsolidated joint ventures      
Real estate, net 221,704 235,623  
Total assets 223,589 238,838  
Amount due to UDR 427 531  
Third party debt 164,299 164,789  
Total liabilities 166,206 166,716  
Total equity 57,383 72,122  
Investment in and advances to unconsolidated joint ventures, net 17,211 21,596  
Equity Method of Investment Summarized Financial Information, Liabilities Sold or Held For Sale   0  
Equity Method of Investment Summarized Financial Information, Assets Sold or Held For Sale   0  
Property operating expenses (7,733) 7,498 7,035
Operating income/(loss) (2,917) (2,200) (2,013)
Interest expense (5,539) (5,873) (5,872)
Other income/(expense)     0
Income/(loss) from discontinued operations 0 0 $ 0
Cash and cash equivalents 1,320 2,507  
Other assets 565 708  
Accounts payable and accrued liabilities 1,480 1,396  
Unconsolidated Joint Ventures [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Investment in and advances to unconsolidated joint ventures, net 703,463 655,519  
Scenario, Previously Reported [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Total assets   3,219,250  
Third party debt   1,504,477  
Total liabilities   1,781,515  
Other assets   28,707  
Deferred Finance Costs, Net   22,686  
Accounts payable and accrued liabilities   44,335  
Scenario, Previously Reported [Member] | MetLife I      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Total assets   93,297  
Third party debt   0  
Total liabilities   5,966  
Other assets   (146)  
Accounts payable and accrued liabilities   749  
Scenario, Previously Reported [Member] | MetLife II      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Total assets   2,021,071  
Third party debt   1,147,109  
Total liabilities   1,164,238  
Other assets   19,589  
Accounts payable and accrued liabilities   17,573  
Scenario, Previously Reported [Member] | Unconsolidated Joint Venture Other MetLife [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Total assets   362,303  
Third party debt   68,510  
Total liabilities   87,204  
Other assets   4,203  
Accounts payable and accrued liabilities   17,851  
Scenario, Previously Reported [Member] | Unconsolidated Joint Venture Vitruvian Park [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Total assets   289,103  
Third party debt   123,649  
Total liabilities   132,375  
Other assets   3,933  
Accounts payable and accrued liabilities   6,766  
Scenario, Previously Reported [Member] | Texas JV      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Total assets   214,218  
Third party debt   0  
Total liabilities   224,596  
Other assets   0  
Accounts payable and accrued liabilities   0  
Scenario, Previously Reported [Member] | KFH      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Total assets   239,258  
Third party debt   165,209  
Total liabilities   167,136  
Other assets   1,128  
Accounts payable and accrued liabilities   1,396  
Other Assets [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net $ 7,900 4,880  
Other Assets [Member] | MetLife I      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Other Assets [Member] | MetLife II      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (6,651)  
Other Assets [Member] | Unconsolidated Joint Venture Other MetLife [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (3,102)  
Other Assets [Member] | Unconsolidated Joint Venture Vitruvian Park [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (685)  
Other Assets [Member] | Texas JV      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Other Assets [Member] | KFH      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (420)  
Other Assets [Member] | Unconsolidated Joint Ventures [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (10,858)  
Assets, Total [Member] | MetLife I      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Assets, Total [Member] | MetLife II      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (6,651)  
Assets, Total [Member] | Unconsolidated Joint Venture Other MetLife [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (3,102)  
Assets, Total [Member] | Unconsolidated Joint Venture Vitruvian Park [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (685)  
Assets, Total [Member] | Texas JV      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Assets, Total [Member] | KFH      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (420)  
Assets, Total [Member] | Unconsolidated Joint Ventures [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (10,858)  
Debt [Member] | MetLife I      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Debt [Member] | MetLife II      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (6,651)  
Debt [Member] | Unconsolidated Joint Venture Other MetLife [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (3,102)  
Debt [Member] | Unconsolidated Joint Venture Vitruvian Park [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (685)  
Debt [Member] | Texas JV      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Debt [Member] | KFH      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (420)  
Debt [Member] | Unconsolidated Joint Ventures [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (10,858)  
Accounts Payable and Accrued Liabilities [Member] | MetLife I      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Accounts Payable and Accrued Liabilities [Member] | MetLife II      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Accounts Payable and Accrued Liabilities [Member] | Unconsolidated Joint Venture Other MetLife [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Accounts Payable and Accrued Liabilities [Member] | Unconsolidated Joint Venture Vitruvian Park [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Accounts Payable and Accrued Liabilities [Member] | Texas JV      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Accounts Payable and Accrued Liabilities [Member] | KFH      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Accounts Payable and Accrued Liabilities [Member] | Unconsolidated Joint Ventures [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Liabilities, Total [Member] | MetLife I      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Liabilities, Total [Member] | MetLife II      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (6,651)  
Liabilities, Total [Member] | Unconsolidated Joint Venture Other MetLife [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (3,102)  
Liabilities, Total [Member] | Unconsolidated Joint Venture Vitruvian Park [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (685)  
Liabilities, Total [Member] | Texas JV      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   0  
Liabilities, Total [Member] | KFH      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   (420)  
Liabilities, Total [Member] | Unconsolidated Joint Ventures [Member]      
Combined summary of balance sheets relating to unconsolidated joint ventures      
Deferred Finance Costs, Net   $ (10,858)