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Fair Value Disclosures (Tables)
 6 Months Ended
Jun. 30, 2014
Fair Value Disclosures [Abstract]  
Net Book Values and Estimated Fair Values of Notes Payable

At June 30, 2014 and December 31, 2013, as required by ASC 820, Financial Instruments, the following presents net book values and estimated fair values of notes payable (in thousands):

 

        June 30, 2014         December 31, 2013   
     Hierarchy    Cost      Fair Value      Cost      Fair Value  

Notes payable

               

Unsecured revolving credit facility

    Level 2    $ 210,000       $ 210,000       $ —         $ —     

Secured revolving credit facilities

    Level 3      —           —           90,689         90,689   

Seller financed loans

    Level 3      17,128         17,128         —           —     

Acquisition and development loans

    Level 3      —           —           31,591         31,591   

Construction loans

    Level 3      —           —           15,832         15,832   
     

 

 

     

 

 

     

 

 

     

 

 

  

Total notes payable

       $ 227,128       $ 227,128       $ 138,112       $ 138,112