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Acquisitions, Dispositions, Discontinued Operations and Assets Held for Sale | 9 Months Ended
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Sep. 30, 2017
Property, Plant and Equipment [Abstract] |
Acquisitions, Dispositions, Assets Held For Sale and Impairment [Text Block] | 5. Acquisitions, Dispositions, and Discontinued Operations Asset Acquisition of Operating Property. In June 2017, we purchased one operating property, Camden Buckhead Square, comprised of 250 apartment homes, located in Atlanta, Georgia, for approximately $58.3 million. Acquisitions of Land. In April 2017, we acquired approximately 8.2 acres of land in San Diego, California for $20.0 million. In September 2016, we acquired approximately 2.4 acres of land in Denver, Colorado for $15.0 million. In 2016, we also acquired approximately 0.2 and 2.0 acres of land in Charlotte, North Carolina, for approximately $0.8 million and $4.1 million, respectively. Land Holding Dispositions. We did not sell any land during the three or nine months ended September 30, 2017. In February 2016, we sold approximately 6.3 acres of land adjacent to an operating property in Tampa, Florida, for approximately $2.2 million and recognized a gain of approximately $0.4 million. Sale of Operating Properties. In July 2017, we entered into a sales contract for the sale of one operating property, comprised of 1,005 apartment homes, located in Corpus Christi, Texas. Closing of this potential sale is not guaranteed and is subject to, among other items, the completion of satisfactory due diligence and financing by the purchaser. We did not have any sale of operating properties for the three or nine months ended September 30, 2017. During the three months ended September 30, 2016, we sold one dual-phased operating property and five other operating properties comprised of an aggregate of 2,906 apartment homes located in Landover and Frederick, Maryland, Fullerton, California, and Tampa, Altamonte Springs, and St. Petersburg, Florida for an aggregate of approximately $484.4 million, and recognized a gain of approximately $262.7 million. In June 2016, we sold one operating property comprised of 278 apartment homes located in Tampa, Florida for approximately $39.0 million, and recognized a gain of approximately $32.2 million. Discontinued Operations. We did not have any discontinued operations for the three or nine months ended September 30, 2017. In April 2016, we sold 15 operating properties, comprised of an aggregate of 4,918 apartment homes, a retail center, and approximately 19.6 acres of undeveloped land, all located in Las Vegas, Nevada, to an unaffiliated third party for an aggregate of approximately $630.0 million and recognized a gain of approximately $375.2 million. The following is a summary of income from discontinued operations for the nine months ended September 30, 2016 relating to the 15 operating properties sold in April 2016. There were no discontinued operations during the three months ended September 30, 2016.
|  | Nine Months Ended September 30,
(in thousands) |  | 2016
Property revenues |  | $ | 19,184 |
Property expenses |  | (6,898 | )
|  | $ | 12,286 |
Property management expense |  | (242 | )
Depreciation and amortization |  | (4,327 | )
Income tax expense |  | (112 | )
Income from discontinued operations |  | $ | 7,605 |

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- Definition The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, and assets held for sale. The tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregated would be included in this disclosure. Additionally, the entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity. + References No definition available. + Details
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- References No definition available. + Details
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