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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities    
Net loss $ (16,663) $ (10,304)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 112,885 73,456
Noncash amortization of deferred financing costs 3,500 446
Noncash share-based compensation 1,430 1,144
Provision for bad debt 2,785 2,385
Remeasurement of Series E units (3,981) 7,700
Remeasurement of preferred shares (700) 598
Equity in net loss (income) of unconsolidated ventures 273 (17)
Other changes in operating assets and liabilities:    
Rent and other receivables (5,305) (2,029)
Restricted cash for resident security deposits (9,223) (10,281)
Prepaid expenses and other assets 2,546 6,028
Deferred leasing costs (5,421) (3,503)
Accounts payable and accrued expenses 6,267 7,884
Resident security deposit liability 9,223 10,281
Amounts payable to affiliates 6,211 4,882
Net cash provided by operating activities 103,827 88,670
Investing activities    
Cash paid for single-family properties (438,689) (597,717)
Escrow deposits for purchase of single-family properties (3,113) 6,044
Increase in restricted cash related to lender requirements (8,416) (10,201)
Investment in unconsolidated joint ventures (10,003) (12,191)
Investments in mortgage financing receivables (7,731) (17,465)
Initial renovation to single-family properties (93,655) (91,427)
Other capital expenditures for single-family properties (15,925)  
Net cash used for investing activities (577,532) (722,957)
Financing activities    
Net proceeds from issuance of preferred shares   189,433
Proceeds from exercise of stock options   431
Proceeds from asset-backed securitizations 552,830 480,970
Payments on asset-backed securitizations (8,557)  
Proceeds from credit facility 628,000 837,909
Payments on credit facility (658,000) (731,909)
Payments on secured note (444)  
Distributions to noncontrolling interests (12,108) (11,805)
Distributions to common shareholders (21,148) (18,551)
Distributions to preferred shareholders (11,138) (7,790)
Deferred financing costs paid (13,860) (14,315)
Net cash provided by financing activities 455,575 724,373
Net (decrease) increase in cash and cash equivalents (18,130) 90,086
Cash and cash equivalents, beginning of period 108,787 148,989
Cash and cash equivalents, end of period 90,657 239,075
Supplemental cash flow information    
Cash payments for interest (33,431) (8,473)
Supplemental schedule of noncash investing and financing activities    
Accounts payable and accrued expenses related to property acquisitions (344) (4,076)
Amounts payable to affiliates related to property acquisitions   647
Accrued distribution to Series C convertible units $ 4,698 $ 4,698