Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 20, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | MAA | ||
Amendment Flag | false | ||
Entity Registrant Name | MID AMERICA APARTMENT COMMUNITIES INC | ||
Entity Central Index Key | 912,595 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Entity Common Stock, Shares Outstanding | 113,545,231 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 6,027,833,767 | ||
Limited Partner [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | MID-AMERICA APARTMENTS, L.P. | ||
Entity Central Index Key | 1,581,776 | ||
Entity Filer Category | Non-accelerated Filer |
MAA Consolidated Balance Sheets
MAA Consolidated Balance Sheets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Shareholders' equity | ||
Noncontrolling Interest in Joint Ventures | $ 2,300,000 | |
Parent Company [Member] | ||
Assets: | ||
Land | 1,816,008,000 | $ 926,532,000 |
Buildings and improvements | 10,523,762,000 | 6,939,288,000 |
Furniture, fixtures and equipment | 298,204,000 | 228,157,000 |
Development and capital improvements in progress | 231,224,000 | 44,355,000 |
Real estate investment property, at cost | 12,869,198,000 | 8,138,332,000 |
Less accumulated depreciation | (1,656,071,000) | (1,482,368,000) |
Real Estate Investment Property, Net | 11,213,127,000 | 6,655,964,000 |
Undeveloped land | 71,464,000 | 51,779,000 |
Corporate properties, net | 12,778,000 | 8,812,000 |
Investments in real estate joint ventures | 44,493,000 | 1,811,000 |
Real estate assets, net | 11,341,862,000 | 6,718,366,000 |
Cash and cash equivalents | 33,536,000 | 37,559,000 |
Restricted cash | 88,264,000 | 26,082,000 |
Deferred financing costs, net | 5,065,000 | 5,232,000 |
Other assets | 134,525,000 | 58,935,000 |
Goodwill | 1,239,000 | 1,607,000 |
Total assets | 11,604,491,000 | 6,847,781,000 |
Liabilities: | ||
Secured notes payable | 1,319,088,000 | 1,286,236,000 |
Unsecured notes payable | 3,180,624,000 | 2,141,332,000 |
Accounts payable | 11,970,000 | 5,922,000 |
Fair market value of interest rate swaps | 7,562,000 | 10,358,000 |
Accrued expenses and other liabilities | 414,244,000 | 226,237,000 |
Security deposits | 18,829,000 | 11,623,000 |
Total liabilities | 4,952,317,000 | 3,681,708,000 |
Redeemable stock | 10,073,000 | 8,250,000 |
Preferred Stock, Value, Outstanding | 9,000 | 0 |
Shareholders' equity | ||
Common stock, $0.01 par value per share, 100,000,000 shares authorized; 75,408,571 and 75,267,675 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively | 1,133,000 | 753,000 |
Additional paid-in capital | 7,109,012,000 | 3,627,074,000 |
Accumulated distributions in excess of net income | (707,479,000) | (634,141,000) |
Accumulated other comprehensive (loss) income | 1,144,000 | (1,589,000) |
Total MAA shareholders' equity | 6,403,819,000 | 2,992,097,000 |
Noncontrolling interest | 235,976,000 | 165,726,000 |
Total equity | 6,639,795,000 | 3,157,823,000 |
Noncontrolling Interest in Joint Ventures | 2,306,000 | 0 |
Permanent Equity Attributable to Parent and Noncontrolling Interest | 6,642,101,000 | 3,157,823,000 |
Total liabilities and equity | $ 11,604,491,000 | $ 6,847,781,000 |
Redeemable stock, shares/units issued and outstanding | 103,578 | 90,844 |
MAALP Consolidated Balance Shee
MAALP Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Noncontrolling Interest in Joint Ventures | $ 2,300 | |
Limited Partner [Member] | ||
Noncontrolling Interest in Joint Ventures | 2,306 | $ 0 |
Partners' Capital, Including Portion Attributable to Noncontrolling Interest | 6,642,082 | 3,157,804 |
Assets: | ||
Land | 1,816,008 | 926,532 |
Buildings and improvements | 10,523,762 | 6,939,288 |
Furniture, fixtures and equipment | 298,204 | 228,157 |
Development and capital improvements in progress | 231,224 | 44,355 |
Real estate investment property, at cost | 12,869,198 | 8,138,332 |
Less accumulated depreciation | (1,656,071) | (1,482,368) |
Real Estate Investment Property, Net | 11,213,127 | 6,655,964 |
Undeveloped land | 71,464 | 51,779 |
Corporate properties, net | 12,778 | 8,812 |
Investments in real estate joint ventures | 44,493 | 1,811 |
Real estate assets, net | 11,341,862 | 6,718,366 |
Cash and cash equivalents | 33,536 | 37,559 |
Restricted cash | 88,264 | 26,082 |
Deferred financing costs, net | 5,065 | 5,232 |
Other assets | 134,525 | 58,935 |
Goodwill | 1,239 | 1,607 |
Total assets | 11,604,491 | 6,847,781 |
Liabilities: | ||
Secured notes payable | 1,319,088 | 1,286,236 |
Unsecured notes payable | 3,180,624 | 2,141,332 |
Accounts payable | 11,970 | 5,922 |
Fair market value of interest rate swaps | 7,562 | 10,358 |
Accrued expenses and other liabilities | 414,244 | 226,237 |
Security deposits | 18,829 | 11,623 |
Due to general partner | 19 | 19 |
Total liabilities | 4,952,336 | 3,681,727 |
Redeemable units | 10,073 | 8,250 |
Capital [Abstract] | ||
General Partner: 75,267,675 OP Units outstanding at December 31, 2014 and 74,830,726 OP Units outstanding at December 31, 2013 | 6,337,721 | 2,993,696 |
Limited Partners: 4,191,152 OP Units outstanding at December 31, 2014 and 4,227,384 OP Units outstanding at December 31, 2013 | 235,976 | 165,726 |
Preferred Stock, Liquidation Preference, Value | 64,833 | 0 |
Accumulated other comprehensive (loss) income | 1,246 | (1,618) |
Capital | 6,639,776 | 3,157,804 |
Liabilities and capital | $ 11,604,491 | $ 6,847,781 |
Redeemable stock, shares/units issued and outstanding | 103,578 | 90,844 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Common stock, shares outstanding | 113,518,212 | 75,408,571 |
Preferred Stock, Shares Issued | 867,846 | |
Preferred Stock, Shares Outstanding | 867,846 | |
General partners' capital account, units outstanding | 113,518,212 | 75,408,571 |
Limited partners' capital account, units outstanding | 4,220,403 | 4,162,996 |
Preferred Stock, Liquidation Preference Per Share | $ 50 | |
Limited Partner [Member] | ||
Redeemable stock, shares/units issued and outstanding | 103,578 | 90,844 |
General partners' capital account, units outstanding | 113,518,212 | 75,408,571 |
Limited partners' capital account, units outstanding | 4,220,403 | 4,162,996 |
Preferred Units, Issued | 867,846 | 0 |
Preferred Units, Outstanding | 867,846 | 0 |
Parent Company [Member] | ||
Common stock, par value per share | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 145,000,000 | 100,000,000 |
Common stock, shares issued | 113,518,212 | 75,408,571 |
Common stock, shares outstanding | 113,518,212 | 75,408,571 |
Redeemable stock, shares/units issued and outstanding | 103,578 | 90,844 |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0 |
Preferred Stock, Shares Authorized | 20,000,000 | 0 |
Preferred Stock, Shares Issued | 867,846 | 0 |
Preferred Stock, Shares Outstanding | 867,846 | 0 |
Preferred Stock, Liquidation Preference Per Share | $ 50 | $ 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings per share - diluted: | |||
Preferred Stock Dividends, Income Statement Impact | $ 0 | $ 0 | |
Parent Company [Member] | |||
Operating revenues: | |||
Rental revenues | $ 1,033,609,000 | 952,196,000 | 902,177,000 |
Other property revenues | (91,739,000) | (90,583,000) | (90,001,000) |
Total property revenues | 1,125,348,000 | 1,042,779,000 | 992,178,000 |
Management fee income | 0 | 0 | 154,000 |
Total operating revenues | 1,125,348,000 | 1,042,779,000 | 992,332,000 |
Property operating expenses: | |||
Personnel | 106,745,000 | 103,000,000 | 101,591,000 |
Building repairs and maintenance | 31,296,000 | 30,524,000 | 30,715,000 |
Real estate taxes and insurance | 142,784,000 | 129,618,000 | 123,419,000 |
Utilities | 93,000,000 | 89,769,000 | 89,150,000 |
Landscaping | 19,816,000 | 19,458,000 | 20,113,000 |
Other operating | 29,715,000 | 28,276,000 | 28,360,000 |
Depreciation and amortization | 322,958,000 | 294,520,000 | 301,812,000 |
Total property operating expenses | 746,314,000 | 695,165,000 | 695,160,000 |
Acquisition expenses | 2,928,000 | 2,777,000 | 2,388,000 |
Property management expenses | 34,093,000 | 30,990,000 | 32,095,000 |
General and administrative expenses | 29,040,000 | 25,716,000 | 20,909,000 |
Merger related expenses | 39,033,000 | 0 | 3,152,000 |
Integration related expenses | 1,790,000 | 0 | 8,395,000 |
Income from continuing operations before non-operating items | 272,150,000 | 288,131,000 | 230,233,000 |
Interest and other non-property income | 724,000 | (368,000) | 770,000 |
Interest expense | (129,947,000) | (122,344,000) | (123,953,000) |
Loss on debt extinguishment | (83,000) | (3,602,000) | (2,586,000) |
Net casualty gain (loss) after insurance and other settlement proceeds | 448,000 | 473,000 | (476,000) |
Gain on sale of non-depreciable real estate assets | 2,171,000 | 172,000 | 350,000 |
Gain on sale of depreciable real estate assets excluded from discontinued operations | 80,397,000 | 189,958,000 | 42,649,000 |
Income before income tax expense | 225,860,000 | 352,420,000 | 146,987,000 |
Income tax expense | (1,699,000) | (1,673,000) | (2,050,000) |
Income from continuing operations before joint venture activity | 224,161,000 | 350,747,000 | 144,937,000 |
Gain (loss) from real estate joint ventures | 241,000 | (2,000) | 6,009,000 |
Income from continuing operations | 224,402,000 | 350,745,000 | 150,946,000 |
Discontinued operations: | |||
Loss from discontinued operations before gain on sale | 0 | 0 | (63,000) |
Gain on sale of discontinued operations | 0 | 0 | 5,394,000 |
Consolidated net income | 224,402,000 | 350,745,000 | 156,277,000 |
Net income attributable to noncontrolling interests | 12,180,000 | 18,458,000 | 8,297,000 |
Net income available for MAA common shareholders | $ 211,915,000 | $ 332,287,000 | $ 147,980,000 |
Earnings Per Share, Basic [Abstract] | |||
Income from continuing operations available for common shareholders (dollars per share) | $ 2.69 | $ 4.41 | $ 1.90 |
Discontinued property operations (dollars per share) | 0 | 0 | 0.07 |
Net income available for common shareholders (dollars per share) | 2.69 | 4.41 | 1.97 |
Earnings per share - diluted: | |||
Income from continuing operations available for common shareholders (dollars per share) | 2.69 | 4.41 | 1.90 |
Discontinued property operations (dollars per share) | 0 | 0 | 0.07 |
Net income available to common shareholders (dollars per share) | $ 2.69 | $ 4.41 | $ 1.97 |
Net Income (Loss) Available to Shareholders | $ 212,222,000 | $ 332,287,000 | $ 147,980,000 |
Preferred Stock Dividends, Income Statement Impact | 307,000 | ||
Limited Partner [Member] | |||
Operating revenues: | |||
Rental revenues | 1,033,609,000 | 952,196,000 | 902,177,000 |
Other property revenues | (91,739,000) | (90,583,000) | (90,001,000) |
Total property revenues | 1,125,348,000 | 1,042,779,000 | 992,178,000 |
Management fee income | 0 | 0 | 154,000 |
Total operating revenues | 1,125,348,000 | 1,042,779,000 | 992,332,000 |
Property operating expenses: | |||
Personnel | 106,745,000 | 103,000,000 | 101,591,000 |
Building repairs and maintenance | 31,296,000 | 30,524,000 | 30,715,000 |
Real estate taxes and insurance | 142,784,000 | 129,618,000 | 123,419,000 |
Utilities | 93,000,000 | 89,769,000 | 89,150,000 |
Landscaping | 19,816,000 | 19,458,000 | 20,113,000 |
Other operating | 29,715,000 | 28,276,000 | 28,360,000 |
Depreciation and amortization | 322,958,000 | 294,520,000 | 301,812,000 |
Total property operating expenses | 746,314,000 | 695,165,000 | 695,160,000 |
Acquisition expenses | 2,928,000 | 2,777,000 | 2,388,000 |
Property management expenses | 34,093,000 | 30,990,000 | 32,095,000 |
General and administrative expenses | 29,040,000 | 25,716,000 | 20,909,000 |
Merger related expenses | 39,033,000 | 0 | 3,152,000 |
Integration related expenses | 1,790,000 | 0 | 8,395,000 |
Income from continuing operations before non-operating items | 272,150,000 | 288,131,000 | 230,233,000 |
Interest and other non-property income | 724,000 | (368,000) | 770,000 |
Interest expense | (129,947,000) | (122,344,000) | (123,953,000) |
Loss on debt extinguishment | (83,000) | (3,602,000) | (2,586,000) |
Net casualty gain (loss) after insurance and other settlement proceeds | 448,000 | 473,000 | (476,000) |
Gain on sale of non-depreciable real estate assets | 2,171,000 | 172,000 | 350,000 |
Gain on sale of depreciable real estate assets excluded from discontinued operations | 80,397,000 | 189,958,000 | 42,649,000 |
Income before income tax expense | 225,860,000 | 352,420,000 | 146,987,000 |
Income tax expense | (1,699,000) | (1,673,000) | (2,050,000) |
Income from continuing operations before joint venture activity | 224,161,000 | 350,747,000 | 144,937,000 |
Gain (loss) from real estate joint ventures | 241,000 | (2,000) | 6,009,000 |
Income from continuing operations | 224,402,000 | 350,745,000 | 150,946,000 |
Discontinued operations: | |||
Loss from discontinued operations before gain on sale | 0 | 0 | (63,000) |
Gain on sale of discontinued operations | 0 | 0 | 5,394,000 |
Consolidated net income | 224,402,000 | 350,745,000 | 156,277,000 |
Preferred Stock Dividends, Income Statement Impact | 307,000 | 0 | 0 |
Net income available for Mid-America Apartments, L.P. common unitholders | $ 224,095,000 | $ 350,745,000 | $ 156,277,000 |
Earnings Per Share, Basic [Abstract] | |||
Income from continuing operations available for common shareholders (dollars per share) | $ 2.70 | $ 4.41 | $ 1.90 |
Discontinued property operations (dollars per share) | 0 | 0 | 0.07 |
Net income available for common shareholders (dollars per share) | 2.70 | 4.41 | 1.97 |
Earnings per share - diluted: | |||
Income from continuing operations available for common shareholders (dollars per share) | 2.70 | 4.41 | 1.90 |
Discontinued property operations (dollars per share) | 0 | 0 | 0.07 |
Net income available to common shareholders (dollars per share) | $ 2.70 | $ 4.41 | $ 1.97 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Parent Company [Member] | |||
Consolidated net income | $ 224,402 | $ 350,745 | $ 156,277 |
Unrealized (loss) gain from the effective portion of derivative instruments | (1,500) | (8,306) | (12,335) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 4,364 | 7,064 | 11,785 |
Total Comprehensive Income | 227,266 | 349,503 | 155,727 |
Less: comprehensive income attributable to noncontrolling interest | (12,311) | (18,393) | (8,267) |
Comprehensive income attributable to MAA | 214,955 | 331,110 | 147,460 |
Limited Partner [Member] | |||
Consolidated net income | 224,402 | 350,745 | 156,277 |
Unrealized (loss) gain from the effective portion of derivative instruments | (1,500) | (8,306) | (12,335) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 4,364 | 7,064 | 11,785 |
Comprehensive income attributable to Mid-America Apartments, L.P. | $ 227,266 | $ 349,503 | $ 155,727 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) | Total | Limited Partners' Capital Account [Member] | General Partners' Capital Account [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Common Stock | Additional Paid-in Capital | Accumulated Distributions in Excess of Net Income | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest | Limited Partner [Member] | Limited Partner [Member]Limited Partners' Capital Account [Member] | Limited Partner [Member]General Partners' Capital Account [Member] | Limited Partner [Member]Accumulated Other Comprehensive Income (Loss) [Member] | Limited Partner [Member]Total Partnership Capital [Member] | Limited Partner [Member]Redeemable Stock | Limited Partner [Member]Accumulated Distributions in Excess of Net Income | Parent Company [Member] | Parent Company [Member]Preferred Stock [Member] | Parent Company [Member]Common Stock | Parent Company [Member]Additional Paid-in Capital | Parent Company [Member]Accumulated Distributions in Excess of Net Income | Parent Company [Member]Accumulated Other Comprehensive Income (Loss) [Member] | Parent Company [Member]Noncontrolling Interest | Parent Company [Member]Redeemable Stock | Stockholders' Equity, Total [Member]Limited Partner [Member] | Stockholders' Equity, Total [Member]Parent Company [Member] |
Shares, Outstanding at Dec. 31, 2013 | 74,748,000 | |||||||||||||||||||||||||
Common stock shares issued (shares) | 138,000 | |||||||||||||||||||||||||
Common stock repurchased and retired (shares) | 12,000 | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 270,000 | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Units | 36,000 | |||||||||||||||||||||||||
Shares, Outstanding at Dec. 31, 2014 | 75,180,000 | |||||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2013 | $ 747,000 | $ 3,599,549,000 | $ (653,593,000) | $ 108,000 | $ 166,726,000 | $ 3,113,537,000 | ||||||||||||||||||||
Net Income Attributable to Parent | 147,980,000 | |||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | 8,297,000 | |||||||||||||||||||||||||
Net income | $ 156,277,000 | $ 156,277,000 | $ 156,277,000 | 156,277,000 | ||||||||||||||||||||||
Other comprehensive income - derivative instruments (cash flow hedges) | $ (550,000) | (550,000) | (520,000) | (30,000) | (550,000) | |||||||||||||||||||||
Issuance and registration of common shares | 2,000 | 1,040,000 | 0 | $ 874,000 | 1,042,000 | |||||||||||||||||||||
Shares repurchased and retired | 0 | (465,000) | (465,000) | |||||||||||||||||||||||
Exercise of stock options | 3,000 | 12,242,000 | 12,245,000 | |||||||||||||||||||||||
Shares issued in exchange for units | 0 | 1,419,000 | (1,419,000) | 0 | ||||||||||||||||||||||
Notes To Financial Statements [Abstract] | ||||||||||||||||||||||||||
Redeemable stock fair market value | $ 985,000 | 985,000 | $ 985,000 | (985,000) | 985,000 | (985,000) | ||||||||||||||||||||
Adjustment for Noncontrolling Interest Ownership in operating partnership | $ 117,000 | (117,000) | 0 | (144,000) | 144,000 | 0 | ||||||||||||||||||||
Amortization of unearned compensation | 4,631,000 | 4,631,000 | 4,631,000 | 4,631,000 | ||||||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 12,290,000 | |||||||||||||||||||||||||
Dividends, Preferred Stock, Cash | $ 0 | 0 | ||||||||||||||||||||||||
Dividends on common stock | (222,488,000) | (222,488,000) | ||||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2014 | $ 752,000 | 3,619,270,000 | (729,086,000) | (412,000) | 161,287,000 | 3,051,811,000 | ||||||||||||||||||||
Redeemable stock at Dec. 31, 2013 | 5,050,000 | 5,050,000 | ||||||||||||||||||||||||
Redeemable stock at Dec. 31, 2014 | 5,911,000 | 5,911,000 | ||||||||||||||||||||||||
Partners' Capital at Dec. 31, 2013 | 166,746,000 | 2,946,598,000 | 174,000 | 3,113,518,000 | ||||||||||||||||||||||
Notes To Financial Statements [Abstract] | ||||||||||||||||||||||||||
Net Income (Loss) Allocated to Limited Partners | 8,297,000 | |||||||||||||||||||||||||
Net Income (Loss) Allocated to General Partners | 147,980,000 | |||||||||||||||||||||||||
Issuance of units | 0 | 1,042,000 | 1,042,000 | 874,000 | ||||||||||||||||||||||
Units repurchased and retired | (465,000) | (465,000) | ||||||||||||||||||||||||
Exercise of unit options | 12,245,000 | 12,245,000 | ||||||||||||||||||||||||
General partnership units issued in exchange for limited partnership units | (1,419,000) | (1,419,000) | 0 | |||||||||||||||||||||||
Distributions | (12,431,000) | (222,488,000) | (234,919,000) | |||||||||||||||||||||||
Partners' Capital at Dec. 31, 2014 | 161,310,000 | 2,890,858,000 | (376,000) | 3,051,792,000 | ||||||||||||||||||||||
Notes To Financial Statements [Abstract] | ||||||||||||||||||||||||||
Dividends on noncontrolling interest units | (12,431,000) | (12,431,000) | ||||||||||||||||||||||||
Common stock shares issued (shares) | 116,000 | |||||||||||||||||||||||||
Common stock repurchased and retired (shares) | 13,000 | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 7,000 | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Units | 28,000 | |||||||||||||||||||||||||
Shares, Outstanding at Dec. 31, 2015 | 75,318,000 | |||||||||||||||||||||||||
Net Income Attributable to Parent | $ 332,287,000 | |||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | $ 18,458,000 | |||||||||||||||||||||||||
Net income | 350,745,000 | 350,745,000 | 350,745,000 | $ 0 | 350,745,000 | |||||||||||||||||||||
Other comprehensive income - derivative instruments (cash flow hedges) | $ (1,242,000) | $ (1,177,000) | (65,000) | (1,242,000) | 0 | (1,242,000) | ||||||||||||||||||||
Issuance and registration of common shares | $ 1,000 | $ 621,000 | 0 | 0 | 924,000 | 622,000 | ||||||||||||||||||||
Shares repurchased and retired | 0 | (958,000) | 0 | (958,000) | ||||||||||||||||||||||
Exercise of stock options | 0 | 420,000 | 0 | 420,000 | ||||||||||||||||||||||
Shares issued in exchange for units | 0 | 1,121,000 | (1,121,000) | 0 | 0 | |||||||||||||||||||||
Notes To Financial Statements [Abstract] | ||||||||||||||||||||||||||
Redeemable stock fair market value | $ 1,415,000 | 1,415,000 | 1,415,000 | 1,415,000 | 0 | 1,415,000 | (1,415,000) | |||||||||||||||||||
Adjustment for Noncontrolling Interest Ownership in operating partnership | $ 164,000 | (164,000) | (252,000) | 252,000 | 0 | 0 | 0 | |||||||||||||||||||
Amortization of unearned compensation | 6,852,000 | 6,852,000 | 6,852,000 | 0 | 6,852,000 | |||||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 12,898,000 | |||||||||||||||||||||||||
Dividends, Preferred Stock, Cash | $ 0 | 0 | ||||||||||||||||||||||||
Dividends on common stock | (235,927,000) | 0 | (235,927,000) | |||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2015 | 3,157,823,000 | $ 753,000 | 3,627,074,000 | (634,141,000) | (1,589,000) | 165,726,000 | 3,157,823,000 | |||||||||||||||||||
Redeemable stock at Dec. 31, 2015 | 8,250,000 | 8,250,000 | $ 8,250,000 | 8,250,000 | ||||||||||||||||||||||
Notes To Financial Statements [Abstract] | ||||||||||||||||||||||||||
Net Income (Loss) Allocated to Limited Partners | 18,458,000 | |||||||||||||||||||||||||
Net Income (Loss) Allocated to General Partners | 332,287,000 | |||||||||||||||||||||||||
Issuance of units | 622,000 | 0 | 622,000 | 924,000 | ||||||||||||||||||||||
Units repurchased and retired | (958,000) | (958,000) | ||||||||||||||||||||||||
Exercise of unit options | 420,000 | 420,000 | ||||||||||||||||||||||||
General partnership units issued in exchange for limited partnership units | 1,121,000 | (1,121,000) | 0 | |||||||||||||||||||||||
Partnership units issued in exchange for redeemable units | 0 | 0 | ||||||||||||||||||||||||
Distributions | (13,085,000) | (235,927,000) | (249,012,000) | |||||||||||||||||||||||
Partners' Capital at Dec. 31, 2015 | 165,726,000 | 2,993,696,000 | (1,618,000) | 3,157,804,000 | ||||||||||||||||||||||
Notes To Financial Statements [Abstract] | ||||||||||||||||||||||||||
Dividends on noncontrolling interest units | (13,085,000) | 0 | (13,085,000) | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 0 | |||||||||||||||||||||||||
Preferred Stock, Value, Outstanding | $ 0 | |||||||||||||||||||||||||
Development and capital improvements in progress | 44,355,000 | 44,355,000 | ||||||||||||||||||||||||
Noncontrolling Interest in Joint Ventures | 0 | 0 | ||||||||||||||||||||||||
Common stock shares issued (shares) | 38,097,000 | |||||||||||||||||||||||||
Common stock repurchased and retired (shares) | 23,000 | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Units | 23,000 | |||||||||||||||||||||||||
Shares, Outstanding at Dec. 31, 2016 | 113,415,000 | |||||||||||||||||||||||||
Net Income Attributable to Parent | 212,222,000 | |||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | 12,180,000 | |||||||||||||||||||||||||
Net income | 224,402,000 | 224,402,000 | 224,402,000 | 0 | 224,402,000 | |||||||||||||||||||||
Other comprehensive income - derivative instruments (cash flow hedges) | $ 2,864,000 | $ 2,733,000 | 131,000 | 2,864,000 | 0 | 2,864,000 | ||||||||||||||||||||
Issuance and registration of common shares | 380,000 | 3,406,150,000 | 0 | (64,824,000) | 72,759,000 | 1,240,000 | 3,479,289,000 | |||||||||||||||||||
Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants | 64,833,000 | |||||||||||||||||||||||||
Shares repurchased and retired | 0 | (2,019,000) | 0 | (2,019,000) | ||||||||||||||||||||||
Shares issued in exchange for units | $ 0 | 902,000 | (902,000) | 0 | 0 | |||||||||||||||||||||
Notes To Financial Statements [Abstract] | ||||||||||||||||||||||||||
SHAREHOLDER’S EQUITY | SHAREHOLDERS' EQUITY OF MAA On December 31, 2016 , 113,518,212 shares of common stock of MAA and 4,220,403 partnership units in the Operating Partnership (excluding the units held by the Operating Partnership) were issued and outstanding, representing a total of 117,738,615 shares and units. At December 31, 2015 , 75,408,571 shares of common stock of MAA and 4,162,996 partnership units in the Operating Partnership were outstanding, representing a total of 79,571,567 shares and units. There were 147,282 outstanding options as of December 31, 2016 compared to 58,112 outstanding options as of December 31, 2015 . During the year ended December 31, 2016 , 22,067 shares of our common stock were acquired from employees to satisfy minimum tax withholding obligations that arose upon vesting of restricted stock granted pursuant to approved plans. During the year ended December 31, 2015 , 11,914 shares were acquired for these purposes. Preferred Stock As of December 31, 2016 , we had one outstanding series of cumulative redeemable preferred stock which was issued pursuant to the Merger and has the following characteristics: Description Outstanding Shares Liquidation Preference (2) Optional Redemption Date Redemption Price (1) Stated Dividend Yield Approximate Dividend Rate (per share) Series I 867,846 $50.00 10/1/2026 $50.00 8.50% $4.25 (1) The redemption price is the price at which the preferred stock is redeemable, at our option, for cash. (2) The total liquidation preference for outstanding preferred stock is $43.4 million . As discussed in Note 2, these shares of preferred stock were issued in connection with the Merger. Noncontrolling Interest Noncontrolling interest in the accompanying Consolidated Financial Statements relates to the limited partnership interest in the Operating Partnership owned by the holders of the Class A limited partner units of the Operating Partnership, or Class A Units. MAA is the sole general partner of the Operating Partnership and holds all of the outstanding Class B general partner units of the Operating Partnership, or Class B Units. Net income (after allocations to preferred ownership interests) is allocated to MAA and the noncontrolling interest based on their respective ownership percentages of the Operating Partnership. Issuance of additional Class A Units or Class B Units changes the ownership percentage of both the noncontrolling interest and MAA. The issuance of Class B Units generally occurs when MAA issues common stock and the issuance proceeds are contributed to the Operating Partnership in exchange for Class B Units equal to the number of shares of common stock issued. At each reporting period, the allocation between total MAA shareholders’ equity and Noncontrolling interest is adjusted to account for the change in the respective percentage ownership of the underlying equity of the Operating Partnership. MAA’s Board of Directors established economic rights in respect to each Class A Unit that were equivalent to the economic rights in respect to each share of MAA common stock. The holders of Class A Units may redeem each of their units in exchange for one share of common stock in MAA or cash, at the option of MAA. At December 31, 2016 , a total of 4,220,403 Class A Units were outstanding and redeemable to MAA by the holders of the units for 4,220,403 shares of MAA common stock or approximately $413.3 million , based on the closing price of MAA’s common stock on December 31, 2016 of $97.92 per share, at MAA’s option. At December 31, 2015 , a total of 4,162,996 Class A Units were outstanding and redeemable to MAA by the holders of the units for 4,162,996 shares of MAA common stock or approximately $378.0 million , based on the closing price of MAA’s common stock on December 31, 2015 of $90.81 per share, at MAA’s option. The Operating Partnership pays the same per unit distribution in respect to the Class A Units as the per share distribution MAA pays in respect to the common stock. Operating Partnership net income for 2016 , 2015 and 2014 was allocated approximately 5.0% , 5.2% and 5.3% , respectively, to holders of Class A Units and 95.0% , 94.8% and 94.7% , respectively, to MAA as the holder of all Class B Units. MAA further determined that the noncontrolling interests in its consolidated real estate entity totaling $2.3 million (see Note 1 - Organization and Summary of Significant Accounting Policies) met the criterion to be classified and accounted for as a component of permanent equity. Direct Stock Purchase and Distribution Reinvestment Plan MAA has a Dividend and Distribution Reinvestment and Share Purchase Plan, or DRSPP, pursuant to which MAA’s shareholders have the ability to reinvest all or part of their distributions from MAA’s stock and holders of Class A Units have the ability to reinvest all or part of their distributions from MAALP into MAA’s common stock. The DRSPP also provides the opportunity to make optional cash investments in MAA's common stock of at least $250 , but not more than $5,000 in any given month, free of brokerage commissions and charges. MAA, in its absolute discretion, may grant waivers to allow for optional cash payments in excess of $5,000 . To fulfill its obligations under the DRSPP, MAA may either issue additional shares of common stock or repurchase common stock in the open market. MAA has registered with the SEC the offer and sale of up to 9,600,000 shares of common stock pursuant to the DRSPP. MAA may elect to sell shares under the DRSPP at up to a 5% discount. Shares of common stock totaling 7,906 in 2016 , 8,562 in 2015 , and 9,055 in 2014 were acquired by shareholders under the DRSPP. MAA did not offer a discount for optional cash purchases in 2016 , 2015 or 2014 . At the Market Offering On December 9, 2015, we entered into distribution agreements with J.P. Morgan Securities, LLC, BMO Capital Markets Corp. and KeyBanc Capital Markets Inc. to sell up to an aggregate of 4.0 million shares of common stock, from time-to-time in at-the-market offerings or negotiated transactions through controlled equity offering programs, or ATMs. As of December 31, 2016 , there were 4.0 million shares remaining under the ATM program. During the years ended December 31, 2016 and 2015 , MAA did not sell any shares of common stock under its ATMs. As of December 31, 2016, there were 4.0 million shares available for issuance under MAA's ATMs. Stock Repurchase Plan In 1999, MAA’s Board of Directors approved a stock repurchase plan to acquire up to a total of 4.0 million shares of MAA’s common stock. As of December 8, 2015, MAA had repurchased and retired approximately 1.9 million shares of common stock for a cost of approximately $42.0 million at an average price per common share of $22.54 . No shares were repurchased in 2002 through 2016 under the plan. On December 8, 2015, MAA's Board of Directors authorized us to repurchase up to 4.0 million shares of MAA common stock, which represented approximately 5.3% of MAA's common stock outstanding at the time of such authorization. This December 2015 authorization replaced and superseded the 1999 plan, under which approximately 2.1 million shares remained at the time of the December 2015 authorization. No shares were repurchased from December 8, 2015 through December 31, 2016 under the current authorization. Exercise of Stock Options During the years ended December 31, 2015 and 2014 , we issued 7,342 shares and 270,459 shares, respectively, related to the exercise of stock options. These exercises resulted in proceeds of $0.4 million and $12.2 million , respectively. There were no stock options exercised in 2016. | |||||||||||||||||||||||||
Stock Issued in Exchange for Redeemable Stock | 122,000 | (122,000) | 122,000 | |||||||||||||||||||||||
Redeemable stock fair market value | 705,000 | 705,000 | 705,000 | 705,000 | 0 | 705,000 | (705,000) | |||||||||||||||||||
Adjustment for Noncontrolling Interest Ownership in operating partnership | 323,000 | (323,000) | (192,000) | 192,000 | 0 | 0 | 0 | |||||||||||||||||||
Amortization of unearned compensation | 12,151,000 | $ 12,151,000 | 12,151,000 | 0 | 12,151,000 | |||||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | (226,000) | (226,000) | 13,850,000 | 226,000 | ||||||||||||||||||||||
Dividends, Preferred Stock, Cash | 307,000 | 924,000 | $ (307,000) | 924,000 | 307,000 | $ (307,000) | (307,000) | |||||||||||||||||||
Dividends on common stock | $ (284,548,000) | 0 | (284,548,000) | |||||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2016 | 6,639,795,000 | $ 1,133,000 | $ 7,109,012,000 | $ (707,479,000) | $ 1,144,000 | $ 235,976,000 | 6,642,101,000 | |||||||||||||||||||
Redeemable stock at Dec. 31, 2016 | 10,073,000 | 10,073,000 | $ 10,073,000 | $ 10,073,000 | ||||||||||||||||||||||
Notes To Financial Statements [Abstract] | ||||||||||||||||||||||||||
Net Income (Loss) Allocated to Limited Partners | 12,180,000 | |||||||||||||||||||||||||
Net Income (Loss) Allocated to General Partners | 211,915,000 | |||||||||||||||||||||||||
Issuance of units | 3,406,530,000 | 64,833,000 | 72,759,000 | 64,833,000 | 3,544,122,000 | 1,240,000 | ||||||||||||||||||||
Units repurchased and retired | (2,019,000) | (2,019,000) | ||||||||||||||||||||||||
Exercise of unit options | 0 | 0 | ||||||||||||||||||||||||
General partnership units issued in exchange for limited partnership units | 902,000 | (902,000) | 0 | |||||||||||||||||||||||
Partnership units issued in exchange for redeemable units | 122,000 | 122,000 | $ (122,000) | |||||||||||||||||||||||
Distributions | $ (13,884,000) | $ (284,548,000) | (298,432,000) | |||||||||||||||||||||||
Partners' Capital at Dec. 31, 2016 | $ 235,976,000 | $ 6,337,721,000 | $ 1,246,000 | 6,642,082,000 | ||||||||||||||||||||||
Notes To Financial Statements [Abstract] | ||||||||||||||||||||||||||
Dividends on noncontrolling interest units | $ (13,884,000) | $ 0 | (13,884,000) | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 867,846 | 867,846 | 868,000 | |||||||||||||||||||||||
Preferred Stock, Value, Outstanding | $ 9,000 | $ 9,000 | ||||||||||||||||||||||||
Development and capital improvements in progress | 231,224,000 | 231,224,000 | ||||||||||||||||||||||||
Noncontrolling Interest in Joint Ventures | $ 2,300,000 | $ 2,306,000 | $ 2,306,000 | $ 2,306,000 | $ 2,306,000 |
Consolidated Statements of Equ8
Consolidated Statements of Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Parent Company [Member] | |||
Common Stock, Dividends, Per Share, Declared | $ 3.3300 | $ 3.1300 | $ 2.9600 |
Distribution Made to Limited Partner, Distributions Declared, Per Unit | 3.3300 | 3.1300 | 2.9600 |
Limited Partner [Member] | |||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 3.3300 | $ 3.1300 | $ 2.9600 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Cash flows from financing activities: | |||
Dividends, Preferred Stock, Cash | $ 0 | $ 0 | |
Parent Company [Member] | |||
Cash flows from operating activities: | |||
Consolidated net income | $ (224,402) | (350,745) | (156,277) |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Retail revenue accretion | (150) | (1,083) | (27) |
Depreciation and amortization | (323,283) | (294,897) | (301,744) |
Stock compensation expense | 11,486 | 6,147 | 4,226 |
Redeemable stock issued | 557 | 924 | 874 |
Amortization of debt premium | (9,820) | (15,515) | (21,282) |
(Gain) loss from investments in real estate joint ventures | (241) | 6 | (3,142) |
(Gain) loss on debt extinguishment | (56) | 2,855 | 2,586 |
Derivative interest (credit) expense | (2,806) | (2,274) | (3,084) |
Settlement of forward swaps | 0 | (1,908) | (3,625) |
Gain on sale of non-depreciable real estate assets | (2,171) | (172) | (350) |
Gain on sale of depreciable real estate assets excluded from discontinued operations | (80,397) | (189,958) | (42,649) |
Gain on sale of discontinued operations | 0 | 0 | (5,394) |
Net casualty (gain) loss and other settlement proceeds | (448) | (473) | 476 |
Changes in assets and liabilities: | |||
Restricted cash | (315) | 2,091 | (8,704) |
Other assets | 9,822 | 12,475 | 2,013 |
Accounts payable | 24,232 | 2,578 | 3,348 |
Accrued expenses and other | 34,458 | 6,307 | 7,543 |
Security deposits | (667) | (1,235) | (1,244) |
Net cash provided by operating activities | 484,039 | 463,721 | 385,378 |
Cash flows from investing activities: | |||
Purchases of real estate and other assets | (339,186) | (328,193) | (309,174) |
Normal capital improvements | (80,392) | (88,486) | (90,201) |
Construction capital and other improvements | (7,338) | (7,848) | (7,998) |
Renovations to existing real estate assets | (37,316) | (30,957) | (21,089) |
Development | (58,931) | (38,730) | (70,788) |
Distributions from real estate joint ventures | (1,999) | (6) | (15,964) |
Contributions to Real Estate Joint Ventures | 0 | (32) | 0 |
Proceeds from disposition of real estate assets | 296,700 | 358,017 | 254,638 |
Return (funding) of escrow for future acquisitions | (58,259) | 8 | 24,884 |
Cash acquired in connection with Colonial merger | (427,764) | 0 | 0 |
Net cash used in investing activities | (710,487) | (136,215) | (203,764) |
Cash flows from financing activities: | |||
Net change in credit lines | 335,000 | (180,900) | (157,184) |
Proceeds from notes payable | 300,000 | 395,960 | 396,855 |
Principal payments on notes payable | (146,026) | (279,077) | (260,347) |
Payment of deferred financing costs | (2,395) | (7,690) | (4,992) |
Repurchase of common stock | (2,019) | (958) | (465) |
Proceeds from issuances of common shares | 291 | 622 | 1,042 |
Proceeds from Stock Options Exercised | 0 | 420 | 12,245 |
Dividends, Preferred Stock, Cash | (924) | ||
Distributions to noncontrolling interests | (13,850) | (12,898) | (12,290) |
Dividends paid on common shares | (247,652) | (232,079) | (219,158) |
Net cash provided by (used in) financing activities | 222,425 | (316,600) | (244,294) |
Net (decrease) increase in cash and cash equivalents | (4,023) | 10,906 | (62,680) |
Cash and cash equivalents, beginning of period | 37,559 | 26,653 | 89,333 |
Cash and cash equivalents, end of period | 33,536 | 37,559 | 26,653 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 144,843 | 140,811 | 146,202 |
Income Taxes Paid | 1,582 | 2,103 | 1,596 |
Supplemental disclosure of noncash investing and financing activities: | |||
Conversion of units to shares of common stock | 902 | 1,121 | 1,419 |
Accrued construction in progress | 31,491 | 5,873 | 6,626 |
Interest capitalized | 2,073 | 1,655 | 1,722 |
Marked-to-market adjustment on derivative instruments | 5,670 | 2,963 | 6,159 |
Fair value adjustment on debt assumed | 8,864 | 0 | 5,284 |
Loan assumption | 586,744 | 0 | 93,049 |
Limited Partner [Member] | |||
Cash flows from operating activities: | |||
Consolidated net income | (224,402) | (350,745) | (156,277) |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Retail revenue accretion | (150) | (1,083) | (27) |
Depreciation and amortization | (323,283) | (294,897) | (301,744) |
Stock compensation expense | 11,486 | 6,147 | 4,226 |
Redeemable stock issued | 557 | 924 | 874 |
Amortization of debt premium | (9,820) | (15,515) | (21,282) |
(Gain) loss from investments in real estate joint ventures | (241) | 6 | (3,142) |
(Gain) loss on debt extinguishment | (56) | 2,855 | 2,586 |
Derivative interest (credit) expense | (2,806) | (2,274) | (3,084) |
Settlement of forward swaps | 0 | (1,908) | (3,625) |
Gain on sale of non-depreciable real estate assets | (2,171) | (172) | (350) |
Gain on sale of depreciable real estate assets excluded from discontinued operations | (80,397) | (189,958) | (42,649) |
Gain on sale of discontinued operations | 0 | 0 | (5,394) |
Net casualty (gain) loss and other settlement proceeds | (448) | (473) | 476 |
Changes in assets and liabilities: | |||
Restricted cash | (315) | 2,091 | (8,704) |
Other assets | 9,822 | 12,475 | 2,013 |
Accounts payable | 24,232 | 2,578 | 3,348 |
Accrued expenses and other | 34,458 | 6,307 | 7,543 |
Security deposits | (667) | (1,235) | (1,244) |
Net cash provided by operating activities | 484,039 | 463,721 | 385,378 |
Cash flows from investing activities: | |||
Purchases of real estate and other assets | (339,186) | (328,193) | (309,174) |
Normal capital improvements | (80,392) | (88,486) | (90,201) |
Construction capital and other improvements | (7,338) | (7,848) | (7,998) |
Renovations to existing real estate assets | (37,316) | (30,957) | (21,089) |
Development | (58,931) | (38,730) | (70,788) |
Distributions from real estate joint ventures | (1,999) | (6) | (15,964) |
Contributions to Real Estate Joint Ventures | 0 | (32) | 0 |
Proceeds from disposition of real estate assets | 296,700 | 358,017 | 254,638 |
Return (funding) of escrow for future acquisitions | (58,259) | 8 | 24,884 |
Cash acquired in connection with Colonial merger | (427,764) | 0 | 0 |
Net cash used in investing activities | (710,487) | (136,215) | (203,764) |
Cash flows from financing activities: | |||
Net change in credit lines | 335,000 | (180,900) | (157,184) |
Proceeds from notes payable | 300,000 | 395,960 | 396,855 |
Principal payments on notes payable | (146,026) | (279,077) | (260,347) |
Payment of deferred financing costs | (2,395) | (7,690) | (4,992) |
Repurchase of common units | (2,019) | (958) | (465) |
Proceeds from issuance of common units | 291 | 622 | 1,042 |
Proceeds from Stock Options Exercised | 0 | 420 | 12,245 |
Dividends, Preferred Stock, Cash | (924) | 0 | 0 |
Distributions paid on common units | (261,502) | (244,977) | (231,448) |
Net cash provided by (used in) financing activities | 222,425 | (316,600) | (244,294) |
Net (decrease) increase in cash and cash equivalents | (4,023) | 10,906 | (62,680) |
Cash and cash equivalents, beginning of period | 37,559 | 26,653 | 89,333 |
Cash and cash equivalents, end of period | 33,536 | 37,559 | 26,653 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 144,843 | 140,811 | 146,202 |
Income Taxes Paid | 1,582 | 2,103 | 1,596 |
Supplemental disclosure of noncash investing and financing activities: | |||
Accrued construction in progress | 31,491 | 5,873 | 6,626 |
Interest capitalized | 2,073 | 1,655 | 1,722 |
Marked-to-market adjustment on derivative instruments | 5,670 | 2,963 | 6,159 |
Fair value adjustment on debt assumed | 8,864 | 0 | 5,284 |
Loan assumption | 586,744 | 0 | 93,049 |
Purchase Price Post | $ 4,006,586 | $ 0 | $ 0 |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Consolidation and Basis of Presentation and Significant Accounting Policies [Abstract] | |
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Unless the context otherwise requires, all references to "we," "us," "our," or the "Company" refer collectively to Mid-America Apartment Communities, Inc., together with its consolidated subsidiaries, including Mid-America Apartments, L.P. Unless the context otherwise requires, all references to “MAA” refers only to Mid-America Apartment Communities, Inc., and not any of its consolidated subsidiaries. Unless the context otherwise requires, the references to the “Operating Partnership” or “MAALP” refer to Mid-America Apartments, L.P. together with its consolidated subsidiaries. “Common stock” refers to the common stock of MAA and “shareholders” means the holders of shares of MAA’s common stock. The limited partnership interests of the Operating Partnership are referred to as “OP Units” or "common units" and the holders of the OP Units are referred to as “unitholders”. As of December 31, 2016 , MAA owned 113,518,212 OP Units (or approximately 96.4% ) of the limited partnership interests of the Operating Partnership. MAA conducts substantially all of its business and holds substantially all of its assets through the Operating Partnership, and by virtue of its ownership of the OP Units and being the Operating Partnership's sole general partner, MAA has the ability to control all of the day-to-day operations of the Operating Partnership. We believe combining the notes to the consolidated financial statements of MAA and MAALP results in the following benefits: • enhances a readers' understanding of MAA and the Operating Partnership by enabling the reader to view the business as a whole in the same manner that management views and operates the business; • eliminates duplicative disclosure and provides a more streamlined and readable presentation since a substantial portion of the disclosure applies to both MAA and the Operating Partnership. Management operates MAA and the Operating Partnership as one business. The management of the Company is comprised of individuals who are officers of MAA and employees of the Operating Partnership. We believe it is important to understand the few differences between MAA and the Operating Partnership in the context of how MAA and the Operating Partnership operate as a consolidated company. MAA and the Operating Partnership are structured as an "umbrella partnership REIT," or UPREIT. MAA's interest in the Operating Partnership entitles MAA to share in cash distributions from, and in the profits and losses of, the Operating Partnership in proportion to MAA's percentage interest therein and entitles MAA to vote on substantially all matters requiring a vote of the partners. MAA's only material asset is its ownership of limited partner interests in the Operating Partnership; therefore, MAA does not conduct business itself, other than acting as the sole general partner of the Operating Partnership, issuing public equity from time to time and guaranteeing certain debt of the Operating Partnership. The Operating Partnership holds, directly or indirectly, all of our real estate assets. Except for net proceeds from public equity issuances by MAA, which are contributed to the Operating Partnership in exchange for OP Units, the Operating Partnership generates the capital required by our business through the Operating Partnership's operations, direct or indirect incurrence of indebtedness and issuance of OP units. The presentation of MAA's shareholders' equity and the Operating Partnership's capital are the principal areas of difference between the consolidated financial statements of MAA and those of the Operating Partnership. MAA's shareholders' equity may include shares of preferred stock, shares of common stock, additional paid-in capital, cumulative earnings, cumulative distributions, noncontrolling interest, preferred units, treasury shares, accumulated other comprehensive income and redeemable common units. The Operating Partnership's capital may include common capital and preferred capital of the general partner (MAA), limited partners' preferred capital, limited partners' noncontrolling interest, accumulated other comprehensive income and redeemable common units. Redeemable common units represent the number of outstanding OP Units as of the date of the applicable balance sheet, valued at the greater of the closing market price of MAA's common stock or the aggregate value of the individual partners' capital balances. Holders of OP Units (other than MAA and its corporate affiliates) may require us to redeem their OP Units from time to time, in which case we may, at our option, pay the redemption price either in cash (in an amount per OP Unit equal, in general, to the average closing price of MAA's common stock on the New York Stock Exchange over a specified period prior to the redemption date) or by delivering one share of our common stock (subject to adjustment under specified circumstances) for each OP Unit so redeemed. Organization of Mid-America Apartment Communities, Inc. On December 1, 2016, MAA completed its previously announced merger with Post Properties. Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), Post Properties merged with and into MAA, with MAA continuing as the surviving corporation (the "Parent Merger"), and Post LP merged with and into MAALP, with MAALP continuing as the surviving entity (the "Partnership Merger"). We refer to the Parent Merger, together with the Partnership Merger, as the Merger in this Annual Report on Form 10-K. Under the terms of the Merger Agreement, each share of Post Properties common stock was converted into the right to receive 0.71 of a newly issued share of MAA common stock including the right, if any, to receive cash in lieu of fractional shares of MAA common stock. In addition, each limited partner interest in Post LP designated as a "Class A Unit" automatically converted into the right to receive 0.71 of a newly issued partnership unit of MAALP. Also, each share of Post Properties Series A Preferred Stock was automatically converted into the right to receive one newly issued share of MAA's 8.50% Series I Cumulative Redeemable Preferred Stock, $0.01 par value per share, which we refer to as MAA Series I preferred stock. Each newly issued share of MAA Series I preferred stock has the same rights, preferences, privileges, and voting powers as those of the Post Properties Series A preferred stock. The net assets and results of operations of Post Properties are included in our consolidated financial statements from the closing date, December 1, 2016, through December 31, 2016, the end of our fiscal year. See further discussion surrounding the Merger in Note 2 (Business Combinations) below. As of December 31, 2016, we owned and operated 302 apartment communities through the Operating Partnership. As of December 31, 2016 , MAA also owned a 35.0% interest in an unconsolidated real estate joint venture. As of December 31, 2016 , we had nine development communities under construction totaling 2,816 units, with 700 units completed. Total expected costs for the development projects are $561.8 million , of which $366.5 million had been incurred to date. We expect to complete construction on four projects by the second quarter of 2017, two projects by the fourth quarter of 2017, two projects by the first quarter of 2018, and one project by the third quarter of 2018. Twenty-nine of our multifamily properties include retail components with approximately 601,000 square feet of gross leasable area. We also have four wholly owned commercial properties, which we acquired through the Merger, with approximately 269,000 square feet of gross leasable area. Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared by our management in accordance with United States generally accepted accounting principles, or GAAP, and applicable rules and regulations of the Securities and Exchange Commission, or the SEC. The consolidated financial statements of MAA presented herein include the accounts of MAA, the Operating Partnership, and all other subsidiaries in which MAA has a controlling financial interest. MAA owns approximately 92.5% to 100% of all consolidated subsidiaries. The consolidated financial statements of MAALP presented herein include the accounts of MAALP and all other subsidiaries in which MAALP has a controlling financial interest. MAALP owns, directly or indirectly, 100% of all consolidated subsidiaries. In our opinion, all adjustments necessary for a fair presentation of the consolidated financial statements have been included, and all such adjustments were of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. We invest in entities which may qualify as variable interest entities, or VIE. A VIE is a legal entity in which the equity investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or, as a group, the holders of the equity investment at risk lack the power to direct the activities of a legal entity as well as the obligation to absorb its expected losses or the right to receive its expected residual returns. We consolidate all VIEs for which we are the primary beneficiary and use the equity method to account for investments that qualify as VIEs but for which we are not the primary beneficiary. In determining whether we are the primary beneficiary of a VIE, we consider qualitative and quantitative factors, including but not limited to, those activities that most significantly impact the VIE's economic performance and which party controls such activities. Effective January 1, 2016, we adopted ASU 2015-02, Consolidation: Topic 810, which resulted in the Operating Partnership now being classified as a VIE, since the limited partners of both entities lack substantive kick-out rights and substantive participating rights. The adoption of the new standard did not result in the consolidation of entities not previously consolidated or the de-consolidation of any entities previously consolidated. We are the primary beneficiary of, and continue to consolidate, both entities, and there was no material effect on our financial position or results of operations as a result of this adoption. See , "Recent Accounting Pronouncements", below, for further details on the adoption of this standard. We use the equity method of accounting for our investments in entities for which we exercise significant influence, but do not have the ability to exercise control. The factors considered in determining that we do not have the ability to exercise control include ownership of voting interests and participatory rights of investors. (see "Investment in Unconsolidated Real Estate Joint Ventures", below) Noncontrolling interests At December 31, 2016, the Company had two types of noncontrolling interests, (1) noncontrolling interests related to the common unitholders of its Operating Partnership (see note 11) and (2) noncontrolling interests related to its consolidated real estate entities (see "Investment in Consolidated Real Estate Joint Ventures", below). Use of Estimates Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses to prepare these financial statements and notes in conformity with GAAP. Actual results could differ from those estimates. Revenue Recognition and Real Estate Sales We primarily lease multifamily residential apartments under operating leases generally with terms of one year or less. Rental revenues are recognized using a method that represents a straight-line basis over the term of the lease and other revenues are recorded when earned. Rental income represents gross market rent less adjustments for concessions, vacancy loss and bad debt. We record gains and losses on real estate sales in accordance with accounting standards governing the sale of real estate. For sale transactions meeting the requirements for the full accrual method, we remove the assets and liabilities from our Consolidated Balance Sheets and record the gain or loss in the period the transaction closes. Rental Costs Costs associated with rental activities, including advertising costs, are expensed as incurred. Advertising expenses were approximately $13.0 million , $13.5 million , and $12.4 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Discontinued Operations Prior to our January 2014 adoption of ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, properties sold during the year or those classified as held-for-sale at the end of a reporting period were classified as discontinued operations in accordance with accounting standards governing financial statement presentation. Subsequent to our adoption of this ASU on January 1, 2014, only dispositions representing significant changes in operating strategy are classified as discontinued operations. Once a property is classified as held-for-sale, depreciation is no longer recognized. Real Estate Assets and Depreciation and Amortization Real estate assets are carried at depreciated cost. Repairs and maintenance costs are expensed as incurred while significant improvements, renovations, and recurring capital replacements are capitalized. Recurring capital replacements typically include scheduled carpet replacement, new roofs, HVAC units, plumbing, concrete, masonry and other paving, pools and various exterior building improvements. In addition to these costs, we also capitalize salary costs directly identifiable with renovation work. These expenditures extend the useful life of the property and increase the property’s fair market value. The cost of interior painting, vinyl flooring and blinds are expensed as incurred. Depreciation is computed on a straight-line basis over the estimated useful lives of the related assets which range from 8 to 40 years for land improvements and buildings, 5 years for furniture, fixtures and equipment, and 3 to 5 years for computers and software. Development Costs Development projects and the related carrying costs, including interest, property taxes, insurance and allocated direct development salary cost during the construction period, are capitalized and reported in the accompanying Consolidated Balance Sheets as “Development and capital improvements in progress” during the construction period. Interest is capitalized in accordance with accounting standards governing the capitalization of interest. Upon completion and certification for occupancy of individual buildings within a development, amounts representing the completed building's portion of total estimated development costs for the project are transferred to "Land", "Buildings", and "Furniture, fixtures and equipment" as real estate held for investment. Capitalization of interest, property taxes, insurance and allocated direct development salary costs cease upon the transfer. The assets are depreciated over their estimated useful lives. Total interest capitalized during the years ended December 31, 2016 , 2015 and 2014 was approximately $2.1 million , $1.7 million , and $1.7 million , respectively. Indirect costs other than interest that we capitalized included capitalized salaries of $0.3 million , $0.4 million , and $1.7 million during the years ended December 31, 2016 , 2015 and 2014 , respectively, and real estate taxes of $0.3 million , $0.2 million , and $0.2 million during the years ended December 31, 2016 , 2015 and 2014 , respectively. Certain costs associated with the lease-up of development projects, including cost of model units, their furnishings, signs, and “grand openings,” are capitalized and amortized over their respective estimated useful lives. All other costs relating to renting development projects are expensed as incurred. Acquisition of Real Estate Assets In accordance with accounting standards for business combinations, the fair value of the real estate acquired is allocated to the acquired tangible assets, consisting of land, building, furniture, fixtures and equipment, and identified intangible assets, consisting of the value of in-place leases and other contracts. We allocate the purchase price to the fair value of the tangible assets of an acquired property determined by valuing the building as if it were vacant, based on management’s determination of the relative fair values of these assets. Management determines the as-if-vacant fair value of a building using methods similar to those used by independent appraisers. These methods include using stabilized net operating income, or NOI, and market specific capitalization and discount rates. In allocating the fair value of identified intangible assets of an acquired property, the in-place leases are valued based on current rent rates and time and cost to lease a unit. Management concluded that the residential leases acquired in connection with each of its property acquisitions are approximately at market rates since the residential lease terms generally do not extend beyond one year. For larger, portfolio style acquisitions, like the Merger, management engages a third party valuation specialist to perform the fair value assessment, which includes an allocation of the purchase price. Similar to management's methods, the third party uses cash flow analysis as well as an income approach and a market approach to determine the fair value of assets. The third party uses stabilized NOI and market specific capitalization and discount rates. Management reviews the inputs used by the third party specialist as well as the allocation of the purchase price provided by the third party to ensure reasonableness and that the procedures are performed in accordance with management's policy. The initial allocation of the purchase price is based on management’s preliminary assessment, which may differ when final information becomes available. Subsequent adjustments made to the initial purchase price allocation, if any, are made within the allocation period, which typically does not exceed one year. For residential leases, the fair value of the in-place leases and resident relationships is then amortized over 6 months, the estimated remaining term of the resident leases. For commercial leases, the fair value of in-place leases and resident relationships is amortized over the remaining term of the commercial leases. The amount of these lease intangibles included in Other assets totaled $42.4 million , $6.1 million , and $8.3 million as of December 31, 2016 , 2015 , and 2014 , respectively. Accumulated amortization for these leases totaled $7.3 million , $2.3 million , and $1.8 million as of December 31, 2016 , 2015 and 2014 , respectively. The amortization recorded as depreciation and amortization expense was $8.7 million , $5.0 million , and $24.5 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. The estimated aggregate future amortization expense of in-place leases is approximately $28.7 million , $2.0 million , $1.6 million , $0.8 million , and $0.5 million for the years ended December 31, 2017, 2018, 2019, 2020, and 2021, respectively. Our policy is to expense the costs incurred to acquire properties in the period these costs are incurred. Acquisition costs include appraisal fees, title fees, broker fees, and other legal costs to acquire the property. These costs are recorded in our Consolidated Statement of Operations under the line "Acquisition expenses". Impairment of Long-lived Assets, including Goodwill We account for long-lived assets in accordance with the provisions of accounting standards for the impairment or disposal of long-lived assets and evaluate our goodwill for impairment under accounting standards for goodwill and other intangible assets. We evaluate goodwill for impairment on at least an annual basis, or more frequently if a goodwill impairment indicator is identified. We periodically evaluate long-lived assets, including investments in real estate and goodwill, for indicators that would suggest that the carrying amount of the assets may not be recoverable. The judgments regarding the existence of such indicators are based on factors such as operating performance, market conditions and legal factors. Long-lived assets, such as real estate assets, equipment and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are separately presented on the Consolidated Balance Sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group or a property classified as held for sale are presented separately in the appropriate asset and liability sections of the balance sheet. Goodwill is tested annually for impairment and is tested for impairment more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss for goodwill is recognized to the extent that the carrying amount exceeds the implied fair value of goodwill. This determination is made at the reporting unit level and consists of two steps. First, we determine the fair value of a reporting unit and compare it to its carrying amount. In the apartment industry, the primary method used for determining fair value is to divide annual operating cash flows by an appropriate capitalization rate. We determine the appropriate capitalization rate by reviewing the prevailing rates in a property’s market or submarket. Second, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation in accordance with accounting standards for business combinations. The residual fair value after this allocation is the implied fair value of the reporting unit goodwill. There has been no impairment of goodwill in the three year period ended December 31, 2016 . Goodwill decreased from $1.6 million at December 31, 2015 to $1.2 million at December 31, 2016 as a result of the disposition of the Corners at Crystal Lake apartment community on August 18, 2016. Goodwill decreased from $2.3 million at December 31, 2014 to $1.6 million at December 31, 2015 as a result of the disposition of the Post House Jackson, Post House North, and Oaks apartment communities on April 29, 2015. Loss Contingencies The outcomes of claims, disputes and legal proceedings are subject to significant uncertainty. We record an accrual for loss contingencies when a loss is probable and the amount of the loss can be reasonably estimated. We review these accruals quarterly and make revisions based on changes in facts and circumstances. When a loss contingency is not both probable and reasonably estimable, we do not accrue the loss. However, if the loss (or an additional loss in excess of the accrual) is at least a reasonable possibility and material, then we disclose a reasonable estimate of the possible loss, or range of loss, if such reasonable estimate can be made. If we cannot make a reasonable estimate of the possible loss, or range of loss, then a statement to that effect is disclosed. The assessment of whether a loss is probable or a reasonable possibility, and whether the loss or range of loss is reasonably estimable, often involves a series of complex judgments about future events. Among the factors that we consider in this assessment, are the nature of existing legal proceedings and claims, the asserted or possible damages or loss contingency (if reasonably estimable), the progress of the matter, existing law and precedent, the opinions or views of legal counsel and other advisers, our experience in similar matters, the facts available to us at the time of assessment, and how we intend to respond, or have responded, to the proceeding or claim. Our assessment of these factors may change over time as individual proceedings or claims progress. For matters where we are not currently able to reasonably estimate a range of reasonably possible loss, the factors that have contributed to this determination include the following: (i) the damages sought are indeterminate; (ii) the proceedings are in the early stages; (iii) the matters involve novel or unsettled legal theories or a large or uncertain number of actual or potential cases or parties; and/or (iv) discussions with the parties in matters that are expected ultimately to be resolved through negotiation and settlement have not reached the point where we believe a reasonable estimate of loss, or range of loss, can be made. In such instances, we believe that there is considerable uncertainty regarding the timing or ultimate resolution of such matters, including a possible eventual loss or business impact, if any. Undeveloped Land Undeveloped land includes sites intended for future multifamily developments, sites for future commercial development and sites intended for residential use, which are carried at the lower of cost or fair value in accordance with GAAP and any costs incurred prior to commencement of pre-development activities are expensed as incurred. Investment in Unconsolidated Real Estate Joint Ventures Immediately prior to the effective date of the Merger, Post Properties was an investor in a limited liability company, together with institutional investors that owned one apartment community located in Washington, D.C, or the Apartment LLC. Post Properties had a 35.0% equity interest in this unconsolidated joint venture, which MAA retained immediately following the effectiveness of the Merger and as of December 31, 2016. MAA provides property and asset management services to the Apartment LLC for which it earns fees. This joint venture was determined to be a variable interest entity, but we are not designated as a primary beneficiary. As a result, we account for our investment in the Apartment LLC using the equity method of accounting as we are able to exert significant influence, but do not have a controlling interest in this joint venture. At December 31, 2016 , our investment in the 35.0% owned Apartment LLC totaled $44.5 million . Investment in Consolidated Real Estate Joint Ventures In 2015, Post Properties entered into a joint venture arrangement with a private real estate company to develop, construct and operate a 358 -unit apartment community in Denver, Colorado. At December 31, 2016 , we owned a 92.5% equity interest in the consolidated joint venture. In 2015, this joint venture acquired the land site and initiated the development of the community. The venture partner will generally be responsible for the development and construction of the community and MAA will continue to manage the community upon its completion. This joint venture was determined to be a variable interest entity with us designated as the primary beneficiary. As a result, the accounts of the joint venture are consolidated by us. At December 31, 2016 , our consolidated assets, liabilities and equity included construction in progress of $30.0 million, land of $13.4 million, cash and cash equivalents of $0.6 million, and accounts payable and accrued expenses of $6.7 million. Cash and Cash Equivalents We consider investments in money market accounts and certificates of deposit with original maturities of three months or less to be cash equivalents. Restricted Cash Restricted cash consists of security deposits required to be held separately, escrow deposits held by lenders for property taxes, insurance, debt service, and replacement reserves, and exchanges under Section 1031(b) of the Internal Revenue Code of 1986, as amended, or the Code. Section 1031(b) exchanges are treated as investing activities in the Consolidated Statement of Cash Flows. Deferred Financing Costs Deferred financing costs are amortized over the terms of the related debt using a method which approximates the effective interest method. If the terms of renewed or modified debt instruments are deemed to be substantially different, all unamortized financing costs associated with the modified debt are charged to earnings in the current period. If the terms are not substantially different, the costs associated with the renewal are capitalized and amortized over the remaining term of the debt instrument. For modifications affecting a line of credit, fees paid to a creditor and any third party costs will be capitalized and amortized over the remaining term of the new arrangement. Any unamortized deferred financing costs associated with the old arrangement are either deferred and amortized over the life of the new arrangement or written off, depending upon the nature of the modification and cost. The balance of any unamortized financing costs on extinguished debt is expensed upon extinguishment. Other Assets Other assets consist primarily of deferred rental concessions which are recognized on a straight line basis over the life of the leases, receivables and deposits from residents, the value of derivative contracts and other prepaid expenses including prepaid insurance and prepaid interest. Also included in other assets are the fair market value of in place leases and resident relationships, net of accumulated amortization, which totaled $35.0 million and $3.8 million as of December 31, 2016 and 2015 , respectively. Accrued Expenses and Other Liabilities Accrued expenses consist of accrued dividends payable, accrued real estate taxes, accrued interest payable, accrued loss contingencies, other accrued expenses payable, and unearned income. Significant accruals include accrued dividends payable of $102.4 million and $65.2 million at December 31, 2016 and 2015 , respectively, accrued real estate taxes of $97.6 million and $63.3 million at December 31, 2016 and 2015 , respectively, unearned income of $39.4 million and $25.4 million at December 31, 2016 and 2015 , respectively, accrued legal contingency loss of $42.1 million and $13.5 million at December 31, 2016 and 2015 , respectively, and accrued interest payable of $15.2 million and $17.2 million at December 31, 2016 and 2015 , respectively. Self-Insurance We are self-insured for workers' compensation claims up to $500,000 and for general liability claims up to $100,000 for historical MAA properties and up to $200,000 for Post properties. We accrue for expected liabilities less than these amounts based on third party actuarial estimates of ultimate losses. Claims exceeding these amounts are insured by a third party. Income Taxes MAA has elected to be taxed as a REIT under the Code, beginning with the taxable year ended December 31, 1994, and intends to continue to operate in such a manner. The current and continuing qualification as a REIT depends on MAA's ability to meet the various requirements imposed by the Code, which are related to organizational structure, distribution levels, diversity of stock ownership and certain requirements with respect to the nature and diversity of MAA’s assets and sources of MAA’s gross income. As long as MAA qualifies for taxation as a REIT, it will generally not be subject to United States federal corporate income tax on its taxable income that is currently distributed to shareholders. This treatment substantially eliminates the “double taxation” (i.e., income taxation at both the corporate and shareholder levels) that generally results from an investment in a corporation. Even if MAA qualifies as a REIT, MAA may be subject to United States federal income and excise taxes in certain situations, such as if MAA fails to distribute timely all of its taxable income with respect to a taxable year. MAA also will be required to pay a 100% tax on any net income on non- arm’s length transactions between M |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
BUSINESS COMBINATIONS | BUSINESS COMBINATIONS Merger of MAA and POST On December 1, 2016, we completed the Merger with Post Properties and Post LP , resulting in 100% of the outstanding common shares and voting interest of Post being converted into MAA ownership shares and units. Under the terms of the Merger Agreement, each Post Properties common share and Post Apartment Homes, L.P., or Post LP, unit was converted automatically into the right to receive 0.71 of a newly issued share of MAA common stock, including the right , if any, to receive cash in lieu of fractional shares of MAA common stock, or MAA LP OP unit, respectively, and each of Post Properties’ 8.50% Series A Cumulative Redeemable Preferred Shares, which we refer to as Post Properties preferred stock, converted automatically into the right to receive one newly issued share of 8.50% Series I Cumulative Redeemable Preferred Stock of MAA, which has the same rights, preferences, privileges and voting powers as the Post Properties preferred stock. Following the parent merger, continuing MAA common shareholders held approximately 68 percent of the issued and outstanding shares of common stock of the Combined Corporation and former Post Properties common shareholders held approximately 32 percent. As part of the Merger, we acquired 61 wholly owned apartment communities encompassing 24,138 units, including 261 apartment units in one community held in an unconsolidated entity, and 2,266 apartment units in six communities currently under development. Post Properties had operations in ten markets across the United States. In addition to the apartment communities, we also acquired four commercial properties totaling approximately 269,000 square feet. The consolidated net assets and results of operations of Post Properties are included in our consolidated financial statements from the closing date, December 1, 2016, going forward. The total purchase price of approximately $4.0 billion was determined based on the number of Post Properties common shares, Post Properties’ 8.50% Series A Cumulative Redeemable Preferred shares, and Post LP partnership interests outstanding as of December 1, 2016, in addition to cash consideration provided by MAA immediately prior to the Merger to pay off a Post Properties $300 million Post unsecured term loan and a $162 million Post Properties line of credit, both outstanding from Wells Fargo. In all cases in which MAA’s common stock price was a determining factor in arriving at final consideration for the Merger, the stock price used to determine the purchase price was the opening price of MAA’s common stock on December 1, 2016 ( $91.41 per share). The preferred shares consideration was valued at $74.69 per share, which excludes a $12.42 per share bifurcated call option (See Notes 7 & 8). The total purchase price also includes $2.0 million of other consideration, a majority of which relates to assumed stock compensation plans. As a result of the Merger, we issued approximately 38.0 million shares of MAA common stock, approximately 80,000 OP units, and approximately 868,000 newly issued shares of MAA’s 8.50% Series I Cumulative Redeemable Preferred Stock. The Merger has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations , which requires, among other things, that the assets acquired and liabilities assumed be recognized at their acquisition date fair values. For larger, portfolio style acquisitions, like the Merger, management engages a third party valuation specialist to assist with the fair value assessment, which includes an allocation of the purchase price. Similar to management's methods, the third party generally uses cash flow analysis as well as an income approach and a market approach to determine the fair value of assets acquired. The third party uses stabilized NOI and market specific capitalization and discount rates. Management reviews the inputs used by the third party specialist as well as the allocation of the purchase price provided by the third party to ensure reasonableness and that the procedures are performed in accordance with management's policy. The allocation of the purchase price is based on management’s assessment, which may differ as more information becomes available. Subsequent adjustments made to the purchase price allocation, if any, are made within the allocation period, which typically does not exceed one year. The allocation of the purchase price described above requires a significant amount of judgment and represents management's best estimate of the fair value as of the acquisition date . The following preliminary purchase price allocation was based on our valuation as well as estimates and assumptions of the acquisition date fair value of the tangible and intangible assets acquired and liabilities assumed. The following table summarizes the preliminary purchase price allocation (in thousands): Land $ 875,737 Buildings and improvements 3,401,983 Furniture, fixtures and equipment 81,389 Development and capital improvements in progress 184,044 Undeveloped land 24,200 Commercial properties, net 3,610 Investment in real estate joint venture 44,435 Lease intangible assets 53,192 Cash and cash equivalents 34,292 Restricted cash 3,608 Deferred costs and other assets, excluding lease intangible assets 40,473 Total assets acquired 4,746,963 Notes payable (595,609) Fair market value of interest rate swaps (2,118) Lease intangible liabilities (1,661) Accounts payable, accrued expenses, and other liabilities (138,683) Total liabilities assumed, including debt (738,071 ) Noncontrolling interests - consolidated real estate entity (2,306 ) Total purchase price $ 4,006,586 The purchase price accounting reflected in the accompanying financial statements is based upon estimates and assumptions that are subject to change within the measurement period, pursuant to ASC 805. See Note 13, for commitments and contingencies identified, measured, and included in "Accounts payable, accrued expenses, and other liabilities" in the allocation above. We have preliminarily completed our valuation procedures. Adjustments may still occur as the valuation and revised preliminary purchase allocation is finalized in areas such as, real estate related assets and liabilities, equity investments, litigation reserves, debt and debt related instruments, and certain other acquired assets and liabilities assumed. The Merger accounts for $33.5 million of consolidated revenue as reported and a $1.0 million consolidated net income as reported for 2016. We incurred total merger and integration related expenses of $40.8 million and $0.0 million for the years ended December 31, 2016 and 2015, respectively. These amounts were expensed as incurred and are included in the Consolidated Statement of Operations in the items titled "Merger related expenses", primarily consisting of severance, legal, and professional costs, and "Integration related expenses", primarily consisting of temporary systems, staffing, and facilities costs. We also recognized $1.1 million costs associated with issuing and registering the shares issued as consideration in the business combination. Those costs were deducted from the recognized proceeds of issuance within stockholders' equity. Pro forma information The unaudited pro forma information set forth below is based on MAA’s historical Consolidated Statements of Operations for the years ended December 31, 2016 and 2015, adjusted to give effect to the Merger in 2016 as though it occurred on January 1, 2015, the beginning of the comparable prior annual period. The pro forma adjustments primarily relate to the depreciation expense on stepped up fixed assets, amortization of acquired intangibles, Merger and Integration related expenses and estimated interest expense related to new financings. The pro forma information is provided for illustrative purposes only and does not necessarily reflect the actual results of operations had the transactions been consummated at the beginning of the earliest year presented nor is it necessarily indicative of future operating results. The pro forma information does not give effect to any cost synergies or other operating efficiencies that could result or have resulted from the Merger. Pro forma (Unaudited) Period Ended December 31, (in thousands, except per share data) 2016 2015 Total revenue $ 1,494,298 $ 1,426,785 Net income available to common shareholders $ 296,084 $ 330,886 Earnings per share, diluted $ 2.61 $ 2.90 The pro forma results are based on estimates and assumptions, which we believe are reasonable. During 2016, we acquired five properties, other than through the Merger, totaling 1,626 units for a total purchase price of $ 339.2 million , paid in cash. The financial results of these acquired properties are included in the Non-Same Store and Other segment from their respective date of acquisition. Further, the financial results of these acquired properties were not material, individually or in the aggregate, to our results of operations and therefore, pro forma financial information has not been presented. See Note 17 for a discussion of acquisitions and dispositions not related to the Merger. |
Earnings Per Common Share of MA
Earnings Per Common Share of MAA | 12 Months Ended |
Dec. 31, 2016 | |
Earnings per share of the trust [Abstract] | |
Earnings per share | EARNINGS PER COMMON SHARE OF MAA Basic earnings per share is computed by dividing net income available to MAA common shareholders by the weighted average number of shares outstanding during the period. All outstanding unvested restricted share awards contain rights to non-forfeitable dividends and participate in undistributed earnings with common shareholders and, accordingly, are considered participating securities that are included in the two-class method of computing basic earnings per share. Both the unvested restricted shares and other potentially dilutive common shares, and the related impact to earnings, are considered when calculating earnings per share on a diluted basis with our diluted earnings per share being the more dilutive of the treasury stock or two-class methods. Operating partnership units are included in dilutive earnings per share calculations when they are dilutive to earnings per share. For the years ended December 31, 2016 , 2015 , and 2014 , MAA's basic earnings per share is computed using the two-class method, and our diluted earnings per share is computed using the more dilutive of the treasury stock method or two-class method: (dollars and shares in thousands, except per share amounts) Years ended December 31, 2016 2015 2014 Shares Outstanding Weighted average common shares - basic 78,502 75,176 74,982 Weighted average partnership units outstanding — (1) — (1) — (1) Effect of dilutive securities 298 — (2) — (2) Weighted average common shares - diluted 78,800 75,176 74,982 Calculation of Earnings per Share - basic Income from continuing operations $ 224,402 $ 350,745 $ 150,946 Income from continuing operations attributable to noncontrolling interests (12,180 ) (18,458 ) (8,013 ) Income from continuing operations allocated to unvested restricted shares (572 ) (772 ) (278 ) Preferred dividends (307 ) — — Income from continuing operations available for common shareholders, adjusted $ 211,343 $ 331,515 $ 142,655 Income from discontinued operations $ — $ — $ 5,331 Income from discontinued operations attributable to noncontrolling interest — — (284 ) Income from discontinued operations allocated to unvested restricted shares — — (10 ) Income from discontinued operations available for common shareholders, adjusted $ — $ — $ 5,037 Weighted average common shares - basic 78,502 75,176 74,982 Earnings per share - basic $ 2.69 $ 4.41 $ 1.97 Calculation of Earnings per Share - diluted Income from continuing operations $ 224,402 $ 350,745 $ 150,946 Income from continuing operations attributable to noncontrolling interests (12,180 ) (1) (18,458 ) (1) (8,013 ) (1) Income from continuing operations allocated to unvested restricted shares — (772 ) (2) (278 ) (2) Preferred dividends (307 ) — — Income from continuing operations available for common shareholders, adjusted $ 211,915 $ 331,515 $ 142,655 Income from discontinued operations $ — $ — $ 5,331 Income from discontinued operations attributable to noncontrolling interest — — (284 ) (1) Income from discontinued operations allocated to unvested restricted shares — — (10 ) (2) Income from discontinued operations available for common shareholders, adjusted $ — $ — $ 5,037 Weighted average common shares - diluted 78,800 75,176 74,982 Earnings per share - diluted $ 2.69 $ 4.41 $ 1.97 (1) For the years ended December 31, 2016, 2015, and 2014, 4.2 million OP units and their related income are not included in the diluted earnings per share calculations as they are not dilutive. (2) For both the years ended December 31, 2015 and 2014, 0.1 million potentially dilutive securities and their related income are not included in the diluted earnings per share calculation as they are not dilutive. |
Earnings Per OP Unit of MAALP
Earnings Per OP Unit of MAALP | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Unit [Abstract] | |
Earnings per OP Unit | EARNINGS PER OP UNIT OF MAALP Basic earnings per OP Unit is computed by dividing net income available for common unitholders by the weighted average number of units outstanding during the period. All outstanding unvested restricted unit awards contain rights to non-forfeitable distributions and participate in undistributed earnings with common unitholders and, accordingly, are considered participating securities that are included in the two-class method of computing basic earnings per OP unit. Diluted earnings per OP Unit reflects the potential dilution that could occur if securities or other contracts to issue OP Units were exercised or converted into OP Units. A reconciliation of the numerators and denominators of the basic and diluted earnings per OP unit computations for the years ended December 31, 2016 , 2015 , and 2014 is presented below: (dollars and units in thousands, except per unit amounts) Years ended December 31, 2016 2015 2014 Units Outstanding Weighted average common units - basic 82,661 79,361 79,188 Effect of dilutive securities 298 — (1) — (1) Weighted average common units - diluted 82,959 79,361 79,188 Calculation of Earnings per Unit - basic Income from continuing operations $ 224,402 $ 350,745 $ 150,946 Income from continuing operations allocated to unvested restricted shares (574 ) (772 ) (278 ) Preferred unit distributions (307 ) — — Income from continuing operations available for common unitholders, adjusted $ 223,521 $ 349,973 $ 150,668 Income from discontinued operations $ — $ — $ 5,331 Income from discontinued operations allocated to unvested restricted shares — — (10 ) Income from discontinued operations available for common unitholders, adjusted $ — $ — $ 5,321 Weighted average common units - basic 82,661 79,361 79,188 Earnings per unit - basic: $ 2.70 $ 4.41 $ 1.97 Calculation of Earnings per Unit - diluted Income from continuing operations $ 224,402 $ 350,745 $ 150,946 Income from continuing operations allocated to unvested restricted shares — (772 ) (1) (278 ) (1) Preferred unit distributions (307 ) — — Income from continuing operations available for common unitholders, adjusted $ 224,095 $ 349,973 $ 150,668 Income from discontinued operations $ — $ — $ 5,331 Income from discontinued operations allocated to unvested restricted shares — — (10 ) (1) Income from discontinued operations available for common unitholders, adjusted $ — $ — $ 5,321 Weighted average common units - diluted 82,959 79,361 79,188 Earnings per unit - diluted: $ 2.70 $ 4.41 $ 1.97 (1) For both the years ended December 31, 2015 and 2014, 0.1 million potentially dilutive securities and their related income are not included in the diluted earnings per unit calculations as they are not dilutive. |
Stock Based Compensation
Stock Based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Stock Based Compensation [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 5. STOCK BASED COMPENSATION Overview MAA accounts for its stock based employee compensation plans in accordance with accounting standards governing stock based compensation. These standards require an entity to measure the cost of employee services received in exchange for an award of an equity instrument based on the award's fair value on the grant date and recognize the cost over the period during which the employee is required to provide service in exchange for the award, which is generally the vesting period. Any liability awards issued are remeasured at each reporting period. MAA’s stock compensation plans consist of an employee stock purchase plan and a number of incentives provided to attract and retain independent directors, executive officers and key employees. Incentives are currently granted under the 2013 Stock Incentive Plan, as amended, which was originally approved at the September 27, 2013 annual meeting of MAA shareholders. The 2013 Stock Incentive Plan replaced the 2004 Stock Plan (collectively, the “Plans”) under which no further awards may be granted as of October 31, 2013. The 2004 Stock Plan allowed for the grant of restricted stock and stock options up to a total of 500,000 shares. The 2013 Stock Incentive Plan allows for the grant of restricted stock and stock options up to 625,000 shares. MAA believes that such awards better align the interests of its employees with those of its shareholders. Compensation expense is generally recognized for service based restricted stock awards using the straight-line method over the vesting period of the shares regardless of cliff or ratable vesting distinctions. Compensation expense for market and performance based restricted stock awards is generally recognized using the accelerated amortization method with each vesting tranche valued as a separate award, with a separate vesting date, consistent with the estimated value of the award at each period end. Additionally, we adjust compensation expense for estimated and actual forfeitures for all awards. Compensation expense for stock options is generally recognized on a straight-line basis over the requisite service period. MAA presents stock compensation expense in the Consolidated Statements of Operations on the line labeled “General and administrative expenses”. Total compensation costs under the Plans were approximately $12.2 million , $6.9 million and $5.2 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Of these amounts, total compensation costs capitalized under the Plans were approximately $697,000 , $735,000 , and $431,000 for the years ended December 31, 2016 , 2015 , and 2014 , respectively. As of December 31, 2016 , the total unrecognized compensation cost related to the Plans was approximately $8.1 million . This cost is expected to be recognized over the remaining weighted average period of 1.1 years . Total cash paid for the settlement of plan shares totaled $2.0 million , $1.0 million , and $0.6 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Information concerning grants under the Plans is listed below. Restricted Stock In general, restricted stock is earned based on either a service condition, performance condition, or market condition, or a combination thereof, and vests ratably over a period from 1 year to 5 years . Service based awards are earned when the employee remains employed over the requisite service period and are valued on the grant date based upon the market price of MAA common stock on the date of grant. Market based awards are earned when MAA reaches a specified stock price or specified return on the stock price (price appreciation plus dividends) and are valued on the grant date using a Monte Carlo simulation. Performance based awards are earned when MAA reaches certain operational goals such as FFO targets and are valued based upon the market price of MAA common stock on the date of grant as well as the probability of reaching the stated targets. MAA remeasures the fair value of the performance based awards each balance sheet date with adjustments made on a cumulative basis until the award is settled and the final compensation is known. The weighted average grant date fair value per share of restricted stock awards granted during the years ended December 31, 2016 , 2015 , and 2014 , was $73.20 , $68.35 , and $62.40 , respectively. The following is a summary of the key assumptions used in the valuation calculations for market based awards granted during the years ended December 31, 2016 , 2015 , and 2014 : 2016 2015 2014 Risk free rate - minimum 0.49% 0.10% 0.02% Risk free rate - maximum 1.27% 1.05% 0.80% Dividend yield 3.634% 3.932% 4.755% Volatility - minimum 18.41% 15.41% 18.31% Volatility - maximum 19.45% 16.04% 20.48% Service period 3 years 3 years 3 years The risk free rate was based on a zero coupon risk-free rate. The minimum risk free rate was based on a period of 0.25 years for the years ended December 31, 2016 , 2015 , and 2014 . The maximum risk free rate was based on a period of 3 years for the years ended December 31, 2016 , 2015 , and 2014 . The dividend yield was based on the closing stock price of MAA stock on the date of grant. Volatility for MAA was obtained by using a blend of both historical and implied volatility calculations. Historical volatility was based on the standard deviation of daily total continuous returns, and implied volatility was based on the trailing month average of daily implied volatilities interpolating between the volatilities implied by stock call option contracts that were closest to the terms shown and closest to the money. The minimum volatility was based on a period of 2 years , 1 year , and 1 year for the years ended December 31, 2016 , 2015 , and 2014 , respectively. The maximum volatility was based on a period of 1 year , 2 years , and 3 years for the years ended December 31, 2016 , 2015 , and 2014 , respectively. The requisite service period is based on the criteria for the separate programs according to the vesting schedule. Turnover is based on the historical experience for the key managers and executive officers, and is used in estimating forfeitures. A summary of the status of the nonvested restricted shares as of December 31, 2016 , and the changes for the year ended December 31, 2016 , is presented below: Nonvested Shares Shares Weighted Average Grant-Date Fair Value Nonvested at January 1, 2016 187,941 $ 63.36 Issued 119,039 79.51 Vested (80,342 ) 64.00 Forfeited (1,014 ) 71.84 Nonvested at December 31, 2016 225,624 $ 71.61 The total fair value of shares vested during the years ended December 31, 2016 , 2015 , and 2014 was approximately $5.1 million , $2.9 million , and $2.7 million , respectively. Stock Options In general, stock options are earned when the employee remains employed over the requisite service period and vest ratably over a period from 0.3 years to 2.3 years . Stock options exercised result in new common shares being issued on the open market by the Company. The fair value of stock option awards is determined using the Black-Scholes or Monte Carlo valuation models. The weighted average grant date fair value of stock option awards granted during the year ended December 31, 2016 was $18.08 per option. All options issued during the year ended December 31, 2016 related to options exchanged during the Post Merger. All options were fully vested at merger. No stock options were granted during the years ended December 31, 2015 and 2014 . The following is a summary of the key assumptions used in the Monte Carlo valuation calculations for stock options granted during the year ended December 31, 2016 : 2016 Term - minimum 1.11 years Term - maximum 2.11 years Risk free rate - minimum 0.64% Risk free rate - maximum 2.63% Dividend yield 3.81% Volatility - minimum 21.02% Volatility - maximum 21.57% The term represents an estimate of the period of time options are expected to remain outstanding. The U.S. Treasury bill rate, which approximated the expected life of the option, was used to represent the risk-free rate. The current dividend yield at the time of grant was used to estimate the dividend yield over the life of the option. Volatility is based on the actual changes in the market value of MAA’s stock and is calculated using daily market value changes from the date of grant over a past period equal to the expected life of the stock options. Turnover is based on the historical rate at which options are exercised, and is used in estimating forfeitures. A summary of the status of the stock options as of December 31, 2016 and the changes for the year ended December 31, 2016 is presented below: Stock Options Options Weighted Average Exercise Price Outstanding at January 1, 2016 58,112 $ 86.21 Granted 108,198 75.58 Exercised — — Expired (19,028 ) 103.56 Outstanding at December 31, 2016 147,282 $ 76.16 All 147,282 options outstanding at December 31, 2016 were exercisable with a weighted average exercise price of $76.16 , an intrinsic value of $3,400,000 , and a weighted average remaining term of 6.1 years . No options were exercised during the year ended December 31, 2016 . There was no cash received from the exercise of stock options for the year ended December 31, 2016 . Cash received from the exercise of stock options for the years ended December 31, 2015 and 2014 was $0.4 million and $12.2 million , respectively. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2016 | |
Borrowings [Abstract] | |
BORROWINGS | BORROWINGS The weighted average interest rate at December 31, 2016 for the $4.50 billion of debt outstanding was 3.5% , compared to the weighted average interest rate of 3.7% on $3.43 billion of debt outstanding at December 31, 2015 . Our debt consists of an unsecured credit facility, unsecured term loans, senior unsecured notes, a secured credit facility with Fannie Mae, and secured property mortgages. We utilize fixed rate borrowings, interest rate swaps, and interest rate caps to manage our current and future interest rate risk. More details on our borrowings can be found in the schedules presented later in this section. At December 31, 2016 , we had $2.7 billion of senior unsecured notes and term loans fixed at an average interest rate of 3.7% and a $1.0 billion variable rate credit facility with an average interest rate of 1.6% with $490.0 million borrowed at December 31, 2016. Additionally, we had $110.0 million of secured variable rate debt outstanding at an average interest rate of 1.1% , $50.0 million of capped secured variable rate debt at an average interest rate of 1.1% . The interest rate on all other secured debt, totaling $1.1 billion , was hedged or fixed at an average interest rate of 3.9% . Unsecured Revolving Credit Facility We maintain a $1.0 billion unsecured credit facility with sixteen banks led by KeyBank National Association, or the KeyBank Facility. The KeyBank Facility includes an expansion option up to $1.5 billion . The KeyBank Facility bears an interest rate of LIBOR plus a spread of 0.85% to 1.55% based on an investment grade pricing grid and is currently bearing interest at 1.64% . The KeyBank Facility expires in April 2020 with an option to extend for an additional six months. At December 31, 2016 , we had $490.0 million actually borrowed under this facility, and another approximately $3.3 million of the facility used to support letters of credit. Unsecured Term Loans We also maintain four term loans with a syndicate of banks, one led by KeyBank, two by Wells Fargo, and one by US Bank, respectively. The KeyBank term loan has a balance of $150.0 million , matures in 2021, and has a variable interest rate of LIBOR plus a spread of 0.90% to 1.75% based on our credit ratings. The Wells Fargo term loans have balances of $250.0 million and $300.0 million , mature in 2018 and 2022, and have variable interest rates of LIBOR plus a spread of 0.90% to 1.90% and 0.90% to 1.75% , respectively. The US Bank term loan has a balance of $150.0 million , matures in 2020, and has a variable interest rate of LIBOR plus a spread of 0.90% to 1.90% . Senior Unsecured Notes As of December 31, 2016 , we had approximately $1.6 billion of publicly issued bonds and $310.0 million of private placement notes. These senior unsecured notes are longer term in nature and usually mature within five to twelve years, averaging 6.4 years remaining until maturity as of December 31, 2016. As part of the Merger on December 1, 2016, we assumed two publicly issued bonds, one of $250.0 million and one of $150.0 million , or $250.0 million Post Bond and $150.0 million Post Bond, respectively. The $250.0 million Post Bond matures December 1, 2022 and has an interest rate of 3.375% per annum with interest due on June 1 and December 1 of each year. The $150.0 million Post Bond matures on October 15, 2017 and has an interest rate of 4.75% per annum with interest due on April 15 and October 15 of each year. Both bonds are general unsecured senior obligations of the Operating Partnership and rank equally in right of payment with all other senior unsecured indebtedness of the Operating Partnership. The carrying values of the $250.0 million Post Bond and the $150.0 million Post Bond were adjusted down $2.3 million and up $2.6 million , respectively, to reflect fair market values at the date of assumption. There were no additional costs capitalized to assume these bonds. Secured Property Mortgages At December 31, 2016 , we had $1.1 billion of fixed rate conventional property mortgages with an average interest rate of 3.9% and an average maturity in 2019. On February 1, 2016, we paid off a $13.4 million mortgage associated the Colonial Village at Matthews apartment community. The loan was scheduled for maturity in March 2016. On March 1, 2016, we paid off a $20.2 million mortgage associated with the Verandas at Southwood apartment community. The payoff was a scheduled maturity of the loan. On October 31, 2016, we paid off a $28.9 million mortgage associated with the Legacy at Western Oaks apartment community. We recorded a $0.1M gain on debt extinguishment due to paying off the mortgage prior to its scheduled maturity in February 2017 . As part of the Merger on December 1, 2016, we assumed $186.7 million of mortgages associated with five properties, or the Post Mortgages. The carrying value of the Post Mortgages was adjusted up by $8.6 million to reflect fair market values. These mortgages mature February 1, 2019 and have an interest rate of 5.99% . There were no additional costs incurred to transfer ownership. In addition to these payoffs, we have paid $8.4 million associated with property mortgage principal amortizations during the year ended December 31, 2016. Secured Credit Facility We maintain a $160.0 million secured credit facility with Prudential Mortgage Capital, which is credit enhanced by Fannie Mae, or Fannie Mae Facility. The Fannie Mae Facility has maturities from 2017 through 2018. Borrowings under the Fannie Mae Facility totaled $160.0 million at December 31, 2016 , all of which was variable rate at an average rate of 1.1% . The available borrowing capacity at December 31, 2016 was $160.0 million . Guarantees MAA fully and unconditionally guarantees the following debt incurred by the Operating Partnership: • $160.0 million of the Fannie Mae Facility, all of which has been borrowed as of December 31, 2016 ; and • $310.0 million of the privately placed senior unsecured notes, all of which has been borrowed as of December 31, 2016 . Total Outstanding Debt The following table summarizes our indebtedness at December 31, 2016 , (dollars in thousands): Borrowed Balance Effective Rate Contract Maturity Fixed Rate Secured Debt Individual property mortgages $ 1,128,284 3.9 % 8/11/2019 Total fixed rate secured debt 1,128,284 3.9 % 8/11/2019 Variable Rate Secured Debt (1) Fannie Mae conventional credit facilities 160,000 1.1 % 6/1/2018 Total variable rate secured debt 160,000 1.1 % 6/1/2018 Fair market value adjustments and debt issuance costs 30,804 Total Secured Debt $ 1,319,088 3.5 % 6/16/2019 Unsecured Debt Variable rate credit facility 490,000 1.6 % 4/15/2020 Term loan fixed with swaps 850,000 3.1 % 11/10/2017 Fixed rate bonds 1,860,000 4.1 % 5/29/2023 Fair market value adjustments, debt issuance costs and discounts (19,376 ) Total Unsecured Debt $ 3,180,624 3.4 % 6/7/2021 Total Outstanding Debt $ 4,499,712 3.5 % 11/8/2020 (1) Includes capped balances The following table summarizes interest rate ranges, maturity and balance of our indebtedness, net of fair market value adjustments, debt issuance costs and discounts, at December 31, 2016 and the balance of our indebtedness, net of fair market value adjustments, debt issuance costs and discounts, at December 31, 2015 (dollars in millions): At December 31, 2016 Actual Interest Rates Current Average Interest Rate Maturity Balance Balance at Fixed Rate: Secured 3.00 - 5.49% 3.92% 2017-2025 $ 1,128.3 $ 1,062.9 Unsecured 3.15 - 5.57% 4.06% 2017-2025 1,860.0 1,535.2 Interest rate swaps 2.63 - 6.63% 2.80% 2017-2018 850.0 550.0 $ 3,838.3 $ 3,148.1 Variable Rate: (1) Secured 1.08% 1.08% 2017 110.0 65.0 Secured interest rate caps 1.08% 1.08% 2017 50.0 125.0 Unsecured 1.65% 1.65% 2020 490.0 75.0 $ 650.0 $ 265.0 Fair market value adjustments, debt issuance costs and discounts $ 11.4 $ 14.5 $ 4,499.7 $ 3,427.6 (1) Amounts are adjusted to reflect interest rate swap and cap agreements in effect at December 31, 2016 , and 2015 , respectively, which results in us paying fixed interest payments over the terms of the interest rate swaps and on changes in interest rates above the strike rate of the cap. Rates and maturities for capped balances are for the underlying debt, unless the strike rate has been reached. The following table includes scheduled principal repayments on the borrowings at December 31, 2016 , as well as the amortization of the fair market value of debt assumed along with debt discounts and issuance costs (dollars in thousands): Year Amortization Maturities Total 2017 $ 26,110 $ 277,525 $ 303,635 2018 21,525 465,429 486,954 2019 6,778 719,142 725,920 2020 2,768 792,456 795,224 2021 (677 ) 340,618 339,941 Thereafter (1,350 ) 1,849,388 1,848,038 $ 55,154 $ 4,444,558 $ 4,499,712 |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2016 | |
Notes To Financial Statements [Abstract] | |
DERIVATIVES AND HEDGING ACTIVITIES | DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives We are exposed to certain risks arising from both business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources and duration of our debt funding and the use of derivative financial instruments. Specifically, we enter into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future contractual and forecasted cash amounts, principally related to the our borrowings, the value of which are determined by changing interest rates, related cash flows and other factors. Cash Flow Hedges of Interest Rate Risk Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish this objective, we use interest rate swaps and interest rate caps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate caps designated as cash flow hedges involve the receipt of variable amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in Accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the years ended December 31, 2016 , 2015 and 2014 , such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt and forecasted issuances of fixed-rate debt. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During the years ended December 31, 2016 , 2015 and 2014 , we recorded ineffectiveness of $54,000 (increase to interest expense), $100,000 (increase to interest expense) and $157,000 (increase to interest expense), respectively, mainly attributable to a mismatch in the underlying indices of the derivatives and the hedged interest payments made on our variable-rate debt and due to the designation of acquired interest rate swaps with a non-zero fair value at inception. Amounts reported in "Accumulated other comprehensive income/loss" related to derivatives designated as qualifying cash flow hedges will be reclassified to Interest expense as interest payments are made on our variable-rate or fixed-rate debt. During the next twelve months, we estimate that an additional $1.2 million will be reclassified to earnings as an increase to Interest expense, which primarily represents the difference between our fixed interest rate swap payments and the projected variable interest rate swap payments. As of December 31, 2016 , we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: Interest Rate Derivative Number of Instruments Notional Interest Rate Caps 2 $50,000,000 Interest Rate Swaps 15 $850,000,000 The fair value of our interest rate derivatives designated as hedging instruments at December 31, 2016 included $2,364,000 of asset derivatives reported in Other assets and $7,562,000 of liability derivatives reported in the Fair market value of interest rate swaps in the Consolidated Balance Sheet. The fair value of our interest rate derivatives designated as hedging instruments at December 31, 2015 included $6,000 of asset derivatives reported in Other Assets and $10,358,000 of liability derivatives reported in Fair market value of interest rate swaps in the Consolidated Balance Sheet. Bifurcated Embedded Derivatives Additionally, as a result of the Merger (see Note 2), on December 1, 2016, we issued 867,846 shares of 8.50% Series I Cumulative Redeemable Preferred shares as consideration. These shares are redeemable, at the Company's option, on October 1, 2026, and the redemption price per share, $50 , is the price at which the preferred stock is redeemable (see Note 10). This redemption feature embedded in the preferred stock was evaluated in accordance with ASC 815, Derivatives and Hedging, and the Company determined that it was required to bifurcate the value associated with this feature from its host instrument, the perpetual preferred shares, and account for it as a freestanding derivative on the balance sheet at fair value as a result of the call option. Thus, the redemption feature embedded in the 8.50% Series I Cumulative Redeemable Preferred shares is reported as a derivative asset in Other assets on the accompanying consolidated balance sheet and will be adjusted to its fair value at each reporting date, with a corresponding adjustment to Other non-property expense. The embedded derivative for these preferred shares was initially recorded at a fair value of $10.8 million at the date of the Merger and represents the fair value at December 31, 2016. Tabular Disclosure of the Effect of Derivative Instruments on the Statement of Operations The tables below present the effect of our derivative financial instruments on the Consolidated Statement of Operations for the years ended December 31, 2016 , 2015 and 2014 , respectively (dollars in thousands): Derivatives in Cash Flow Hedging Relationships Amount of Loss Recognized in OCI on Derivative (Effective Portion) Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Location of Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Years ended December 31, 2016 2015 2014 2016 2015 2014 2016 2015 2014 Interest rate contracts $ (1,500 ) $ (8,306 ) $ (12,335 ) Interest expense $ (4,364 ) $ (7,064 ) $ (11,785 ) Interest expense $ (54 ) $ (100 ) $ (157 ) Total derivatives in cash flow hedging relationships $ (1,500 ) $ (8,306 ) $ (12,335 ) $ (4,364 ) $ (7,064 ) $ (11,785 ) $ (54 ) $ (100 ) $ (157 ) Derivatives Not Designated as Hedging Instruments Location of Loss Recognized in Income on Derivative Amount of Loss Recognized in Income on Derivative For the year ended December 31, 2016 2015 2014 Interest rate products Interest expense $ — $ (3 ) $ (146 ) Total $ — $ (3 ) $ (146 ) Credit-risk-related Contingent Features As of December 31, 2016 , derivatives that were in a net liability position and subject to credit-risk-related contingent features had a termination value of $7.5 million , which includes accrued interest but excludes any adjustment for nonperformance risk. These derivatives had a fair value, gross of asset positions, of $7.6 million at December 31, 2016 . Certain of our derivative contracts contain a provision where we could be declared in default on our derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to our default on the indebtedness. As of December 31, 2016 , we had not breached the provisions of these agreements. If we had breached these provisions, we could have been required to settle our obligations under the agreements at the termination value of $7.5 million . Although our derivative contracts are subject to master netting arrangements, which serve as credit mitigants to both us and our counterparties under certain situations, we do not net our derivative fair values or any existing rights or obligations to cash collateral on the Consolidated Balance Sheet. We did not have any asset or liability derivative balances that were offsetting that would have resulted in reported net derivative balances differing from the recorded gross amount of derivative assets of $2,364,000 and $6,000 as of December 31, 2016 and 2015, respectively, in addition to gross recorded derivative liabilities of $7,562,000 and $10,358,000 as of December 31, 2016 and 2015, respectively. Other Comprehensive Income MAA's other comprehensive income consists entirely of gains and losses attributable to the effective portion of our cash flow hedges. The chart below shows the change in the balance for the years ended December 31, 2016 , 2015 , and 2014 : Changes in Accumulated Other Comprehensive Income (Loss) by Component Affected Line Item in the Consolidated Statements Of Operations Gains and Losses on Cash Flow Hedges For the year ended December 31, 2016 2015 2014 Beginning balance $ (1,589 ) $ (412 ) $ 108 Other comprehensive loss before reclassifications (1,500 ) (8,306 ) (12,335 ) Amounts reclassified from accumulated other comprehensive income (interest rate contracts) Interest expense 4,364 7,064 11,785 Net current-period other comprehensive (income) loss attributable to noncontrolling interest (131 ) 65 30 Net current-period other comprehensive income (loss) attributable to MAA 2,733 (1,177 ) (520 ) Ending balance $ 1,144 $ (1,589 ) $ (412 ) See also discussions in Note 8 (Fair Value Disclosure of Financial Instruments) below. |
Fair Value Disclosure of Financ
Fair Value Disclosure of Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Notes To Financial Statements [Abstract] | |
Fair Value Disclosure of Financial Instruments | FAIR VALUE DISCLOSURE OF FINANCIAL INSTRUMENTS Cash and cash equivalents, restricted cash, accounts payable, accrued expenses and other liabilities and security deposits are carried at amounts that reasonably approximate their fair value due to their short term nature. We apply FASB ASC, 820 Fair Value Measurements and Disclosures, or ASC 820. ASC 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements; accordingly, the standard does not require any new fair value measurements of reported balances. ASC 820 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Fixed rate notes payable at December 31, 2016 and December 31, 2015 , totaled $3.00 billion and $2.61 billion , respectively, and had estimated fair values of $3.13 billion and $2.71 billion (excluding prepayment penalties), respectively, as of December 31, 2016 and December 31, 2015 . The carrying value of variable rate notes payable (excluding the effect of interest rate swap and cap agreements) at December 31, 2016 and December 31, 2015 , totaled $1.50 billion and $0.82 billion , respectively, and had estimated fair values of $1.51 billion and $0.82 billion (excluding prepayment penalties), respectively, based upon observable interest rates available for the issuance of debt with similar terms and remaining maturities as of December 31, 2016 and December 31, 2015 . The valuation of our debt is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each debt instrument. This analysis reflects the contractual terms of the debt, and uses observable market-based inputs, including interest rate curves and credit spreads. The fair values of fixed debt are determined by using the present value of future cash outflows discounted with the applicable current market rate plus a credit spread. The fair values of variable debt are determined using the stated variable rate plus the current market credit spread. Our variable rates reset every 30 to 90 days and we conclude that these rates reasonably estimate current market rates. We have determined that inputs used to value our debt fall within Level 2 of the fair value hierarchy and therefore our fair market valuation of debt is considered Level 2 in the fair value hierarchy. Currently, we use interest rate swaps and interest rate caps (options) to manage our interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The fair values of interest rate options are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. To comply with the provisions of ASC 820, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. In conjunction with the FASB's fair value measurement guidance, we made an accounting policy election to measure the credit risk of our derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. The derivative asset related to the redemption feature embedded in the 8.50% Series I Cumulative Redeemable Preferred shares issued in connection with Merger are valued using widely accepted valuation techniques, included discounted cash flow analysis in which the perpetual value of the preferred shares are compared to the value with the call option giving the value of the bifurcated call option as the difference between the two values. This analysis reflects the contractual terms of the redeemable preferred shares, redeemable at the Company's option, on October 1, 2026 , reflecting the redemption price per share, $50 , as the price at which the preferred stock is redeemable. The analysis uses observable market-based inputs, including discount rates based on the REIT preferred stock indices and adjusted based treasury rates to determine the present value of cash flows for the called value and the perpetual value in addition to trading data available on the preferred shares to interpolate an as called value and discount rate and again adjusted from there to determine the perpetual discount rate using the applicable treasury rates. We have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, and as a result, all of our derivatives held as of December 31, 2016 and December 31, 2015 were classified as Level 2 of the fair value hierarchy. The table below presents our assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and December 31, 2015 , aggregated by the level in the fair value hierarchy within which those measurements fall. Assets and Liabilities Measured at Fair Value on a Recurring Basis at December 31, 2016 (dollars in thousands) Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance at December 31, 2016 Assets Interest rate derivative contracts $ — $ 2,364 $ — $ 2,364 Preferred Stock embedded derivative — 10,783 — 10,783 Total $ — $ 13,147 $ — $ 13,147 Liabilities Interest rate derivative contracts $ — $ 7,562 $ — $ 7,562 Assets and Liabilities Measured at Fair Value on a Recurring Basis at December 31, 2015 (dollars in thousands) Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance at December 31, 2015 Assets Interest rate derivative contracts $ — $ 6 $ — $ 6 Liabilities Interest rate derivative contracts $ — $ 10,358 $ — $ 10,358 The fair value estimates presented herein are based on information available to management as of December 31, 2016 and December 31, 2015 . These estimates are not necessarily indicative of the amounts we could ultimately realize. See also Note 7 (Derivatives and Hedging Activities). |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Taxes [Abstract] | |
INCOME TAXES | INCOME TAXES For income tax purposes, dividends paid to holders of common stock primarily consist of ordinary income, return of capital, capital gains, qualified dividends and un-recaptured Section 1250 gains, or a combination thereof. For the years ended December 31, 2016, 2015 and 2014, dividends per share held for the entire year were estimated to be taxable as follows: 2016 2015 2014 Amount Percentage Amount Percentage Amount Percentage Ordinary income $ 3.28 100 % $ 3.07 99.7 % $ 2.76 94.41 % Return of capital — — % — — % 0.16 5.59 % Un-recaptured Section 1250 gain — — % 0.01 0.3 % — — % $ 3.28 100.00 % $ 3.08 100.00 % $ 2.92 100.00 % We designated the per share amounts above as capital gain dividends in accordance with the requirements of the Code. The difference between net income available to common shareholders for financial reporting purposes and taxable income before dividend deductions relates primarily to temporary differences such as depreciation and amortization, and deferral of gains on sold properties utilizing like kind exchanges under Internal Revenue Code, or IRC, section 1031. Merger As discussed in Note 2 (Business Combinations), on December 1, 2016, we completed the Merger pursuant to the Merger Agreement, Post Properties merged with and into MAA completing the Parent Merger, and Post LP merged with and into MAALP completing the Partnership Merger. We believe that the Partnership Merger constituted a tax free merger under Code section 708. Additionally, we believe that the Parent Merger constituted a tax free merger under Code section 368(a). As a result of the tax free merger treatment, the merger transactions did not result in the recognition of a gain to any security holder of MAA, Post Properties, MAALP, or Post LP. On December 1, 2016, MAA re-identified hedging transactions for federal income tax purposes according to Reg. §1.1221-2(f) and all relevant state income tax purposes that were previously held by Post Properties. This re-identification was made because the tax identity of Post Properties changed by virtue of the merger into MAA. These hedging transactions are included in the derivative disclosures in Note 7 (Derivatives and Hedging Activities). Taxable REIT subsidiaries We acquired the operations of a taxable REIT subidiary, or TRS, Colonial Properties Services, Inc., or CPSI, through the Colonial Merger in 2013. As a result, CPSI’s tax attributes are now included in the MAA consolidated financial statements. Formerly, CPSI provided property development, construction, leasing and management services for joint venture and third-party owned properties and administrative services to MAA and engaged in for-sale development activity. CPSI also owned and operated two multifamily apartment communities during 2016, however, during 2016, CPSI distributed these communities to MAALP. The distribution resulted in a reduction of the deferred tax asset for real estate asset basis differences and the valuation allowance. CPSI currently holds undeveloped land held for sale. We acquired the operations of a TRS, Post Asset Management, Inc., or PAM, through the Post Merger in 2016. As a result, PAM’s tax attributes are now included in the MAA consolidated financial statements. PAM provides third-party to MAA services as well as to MAA owned properties. PAM also currently holds a tract of undeveloped land held for sale. We also hold certain undeveloped land through another TRS, MAA Copper Ridge, Inc. We generally reimburse our TRSs for payroll and other costs incurred in providing services to us. All inter-company transactions are eliminated in the accompanying consolidated financial statements. A TRS is an entity that is subject to Federal, state and any applicable local corporate income tax without the benefit of the dividends paid deduction applicable to REITs. Our TRSs recognized no income tax expense for the years ended December 31, 2016, 2015 or 2014. The TRSs uses the liability method of accounting for income taxes. Deferred income tax assets and liabilities result from temporary differences. Temporary differences are differences between tax bases of assets and liabilities and their reported amounts in the financial statements that will result in taxable or deductible amounts in future periods. The net deferred tax assets of the Company related to net deferred tax assets of CPSI and the net-loss deferred tax asset acquired by MAA from Colonial in 2013, have been fully offset by a valuation allowance. The net deferred tax assets of PAM were immaterial at December 31, 2016. We record a valuation allowance against our net deferred tax assets when we determine that based on the weight of available evidence, it is more likely than not that our net deferred tax assets will not be realized. We considered the four sources of taxable income that should be considered when determining whether a valuation allowance is required (from least to most subjective): • taxable income in prior carryback years, if carryback is permitted under the tax law; • future reversals of existing taxable temporary differences (i.e., offset gross deferred tax assets against gross deferred tax liabilities); • tax planning strategies; and • future taxable income exclusive of reversing temporary differences and carryforwards. For the years ended December 31, 2016 and 2015, the components of MAA's deferred income tax assets and liabilities were as follows (dollars in thousands): December 31, 2016 December 31, 2015 Deferred tax assets: Real estate asset basis differences $ 13,387 $ 25,627 Deferred revenue — 22 Deferred expenses 12,481 14,106 Net operating loss carryforward 32,585 28,493 Accrued liabilities 102 3,951 $ 58,555 $ 72,199 Deferred tax liabilities: Real estate asset basis differences $ (311 ) $ (145 ) $ (311 ) $ (145 ) Net deferred tax assets, before valuation allowance $ 58,244 $ 72,054 Valuation allowance (58,244 ) (72,054 ) Net deferred tax assets, included in other assets $ — $ — For the years ended December 31, 2016, 2015 and 2014, the reconciliation of income tax attributable to continuing operations for the TRSs computed at the U.S. statutory rate to the income tax provision was as follows (dollars in thousands): 2016 2015 2014 Tax expense at U.S. statutory rates on TRS income subject to tax $ 3,185 $ 2,506 $ 1,802 Effect of permanent differences and other — (730 ) (1,110 ) Decrease in valuation allowance (3,185 ) (1,776 ) (692 ) TRS income tax provision $ — $ — $ — At December 31, 2016 and 2015, CPSI had federal net operating loss, or NOL, carryforwards of approximately $76.6 million and $66.0 million , respectively, for income tax purposes that expire in years 2030 to 2036 . Utilization of these NOL carryforwards is subject to an annual limitation due to ownership change limitations provided by Section 382 of the Code and similar state provisions. The annual limitations may result in the expiration of NOL carryforwards before utilization. CPSI generated approximately $9.4 million of taxable loss before NOL carryforwards for the period ended December 31, 2016. We had no reserve for uncertain tax positions for the years ended December 31, 2016, 2015 and 2014. If necessary, we accrue interest and penalties on unrecognized tax benefits as a component of income tax expense. For the years ended December 31, 2016, 2015, and 2014, other expenses include estimated state franchise and other taxes, including franchise taxes in North Carolina and Tennessee. The income tax expense line item shown in the Consolidated Statement of Operations represents the Texas-based margin tax for all Texas properties and federal and state taxes for PAM. As of December 31, 2016 and 2015, MAA held federal NOL carryforwards of approximately $71.5 million and $46.3 million, respectively, for income tax purposes that expire in years 2019 to 2033. MAA's NOL increased by $25.2 million through its acquisition of Post Properties’ NOL. Utilization of our NOL carryforwards is subject to an annual limitation due to ownership change limitations provided by Section 382 of the Code and similar state provisions. The annual limitations may result in the expiration of NOL carryforwards before utilization. We may use these NOLs to offset all or a portion of the taxable income generated at the REIT level. Tax years 2013 through 2016 are subject to examination by the Internal Revenue Service. No tax examination is currently in process. |
Partners' Capital of MAA LP
Partners' Capital of MAA LP | 12 Months Ended |
Dec. 31, 2016 | |
Partners' Capital of MAA LP [Abstract] | |
Partners' Capital Notes Disclosure [Text Block] | PARTNERS' CAPITAL OF MAALP Operating Partnership Units Interests in MAALP are represented by Operating Partnership Units, or OP Units. As of December 31, 2016 , there were 117,738,615 OP Units outstanding, 113,518,212 or 96.4% of which were owned by MAA, MAALP's general partner. The remaining 4,220,403 OP Units were owned by non-affiliated limited partners, or Class A Limited Partners. As of December 31, 2015 , there were 79,571,567 OP Units outstanding, 75,408,571 or 94.8% of which were owned by MAA and 4,162,996 of which were owned by the Class A Limited Partners. MAA, as the sole general partner of MAALP, has full, complete and exclusive discretion to manage and control the business of the Operating Partnership subject to the restrictions specifically contained within the Partnership Agreement. Unless otherwise stated in the Partnership Agreement of MAALP, this power includes, but is not limited to, acquiring, leasing, or disposing of any real property; constructing buildings and making other improvements to properties owned; borrowing money, modifying or extinguishing current borrowings, issuing evidence of indebtedness, and securing such indebtedness by mortgage, deed of trust, pledge or other lien on the Operating Partnership's assets; and distribution of Operating Partnership cash or other assets in accordance with the Partnership Agreement. MAA can generally, at its sole discretion, issue and redeem OP Units and determine the consideration to be received or the redemption price to be paid, as applicable. The general partner may delegate these and other powers granted if the general partner remains in supervision of the designee. Under the Partnership Agreement, the Operating Partnership may issue Class A Units and Class B Units. Class A Units may only be held by limited partners who are not affiliated with MAA, in its capacity as general partner of the Operating Partnership, while Class B Units may only be held by MAA, in its capacity as general partner of the Operating Partnership, and as of December 31, 2016 , a total of 4,220,403 Class A Units in the Operating Partnership were held by limited partners unaffiliated with MAA, while a total of 113,518,212 Class B Units were held by MAA. In general, the limited partners do not have the power to participate in the management or control of the Operating Partnership's business except in limited circumstances including changes in the general partner and protective rights if the general partner acts outside of the provisions provided in the Partnership Agreement. The transferability of Class A Units is also limited by the Partnership Agreement. Net income (after allocations to preferred ownership interests) is allocated to the general partner and limited partners based on their respective ownership percentages of the Operating Partnership. Issuance or redemption of additional Class A Units or Class B Units changes the relative ownership percentage of the partners. The issuance of Class B Units generally occurs when MAA issues common stock and the proceeds from that issuance are contributed to the Operating Partnership in exchange for the issuance to MAA of a number of OP Units equal to the number of shares of common stock issued. Likewise, if MAA repurchases or redeems outstanding shares of common stock, the Operating Partnership generally redeems an equal number of Class B Units with similar terms held by MAA for a redemption price equal to the purchase price of those shares of common stock. At each reporting period, the allocation between general partner capital and limited partner capital is adjusted to account for the change in the respective percentage ownership of the underlying capital of the Operating Partnership. Holders of the Class A Units may require MAA to redeem their Class A Units, in which case MAA may, at its option, pay the redemption price either in cash (in an amount per Class A Unit equal, in general, to the average closing price of MAA's common stock on the New York Stock Exchange over a specified period prior to the redemption date) or by delivering one share of MAA common stock (subject to adjustment under specified circumstances) for each Class A Unit so redeemed. At December 31, 2016 , a total of 4,220,403 Class A Units were outstanding and redeemable for 4,220,403 shares of MAA common stock, with an approximate value of $413.3 million , based on the closing price of MAA’s common stock on December 31, 2016 of $97.92 per share. At December 31, 2015 , a total of 4,162,996 Class A Units were outstanding and redeemable for 4,162,996 shares of MAA common stock, with an approximate value of $378.0 million , based on the closing price of MAA’s common stock on December 31, 2015 of $90.81 per share. The Operating Partnership pays the same per unit distribution in respect to the OP Units as the per share dividend MAA pays in respect to its common and preferred stock. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Employee Benefit Plans [Abstract] | |
EMPLOYEE BENEFIT PLANS | EMPLOYEE BENEFIT PLANS Following are details of employee benefit plans not previously discussed in Note 5 (Stock Based Compensation). 401(k) Savings Plans MAA's 401(k) Savings Plan, or 401(k) Plan, is a defined contribution plan that satisfies the requirements of Section 401(a) and 401(k) of the Code. Subsequent to the Merger, eligible employees of Post Properties continued to actively participate in the Post Properties 401(k) Plan, which also is a defined contribution plan that satisfies the requirements of Section 401(a) and 401(k) of the Code. MAA's Board of Directors has the discretion to approve matching contributions to these plans. MAA's contributions to these plans were approximately $2.0 million , $1.0 million and $0.9 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Non-Qualified Deferred Compensation Retirement Plan MAA has adopted a non-qualified deferred compensation retirement plan for certain selected executive employees. Under the terms of the plan, employees may elect to defer a percentage of the compensation and bonus, and MAA may, but is not obligated to, match a portion of their salary deferral. MAA’s match to this plan for the years ended December 31, 2016 , 2015 and 2014 was approximately $96,000 , $106,000 and $82,000 , respectively. Non-Qualified Deferred Compensation Plan for Outside Company Directors In 1998, MAA established the Non-Qualified Deferred Compensation Plan for Outside Company Directors, or the Directors Deferred Compensation Plan, which allows non-employee directors to defer their director fees by having the fees held by MAA as shares of MAA's common stock. Directors can also choose to have their annual restricted stock grants issued into the Directors Deferred Compensation Plan. Amounts deferred through the Directors Deferred Compensation Plan are distributed to the directors in two annual installments beginning in the first 90 days of the year following the director’s departure from the board. Participating directors may choose to have the amount issued to them in shares of MAA's common stock or paid to them as cash at the market value of MAA's common stock as of the end of the year the director ceases to serve on the board. For the years ended December 31, 2016 , 2015 and 2014 , directors deferred 10,166 shares, 8,466 shares and 9,415 shares of common stock, respectively, with weighted-average grant date fair values of $97.99 , $78.62 and $70.63 , respectively, into the Directors Deferred Compensation Plan. The shares of common stock held in the Directors Deferred Compensation Plan are classified outside of permanent equity in redeemable stock with changes in redemption amount recorded immediately to retained earnings because the directors have redemption rights not solely within the control of MAA. Additionally, any shares that become mandatorily redeemable because a departed director has elected to receive a cash payout are recorded as a liability. MAA did not record a liability related to mandatorily redeemable shares for the years ended December 31, 2016 , 2015 and 2014 . Employee Stock Ownership Plan MAA’s Employee Stock Ownership Plan, or ESOP, is a non-contributory stock bonus plan that satisfies the requirements of Section 401 (a) of the Code. On December 31, 2010, the ESOP was frozen by amendment, whereby effective January 1, 2011, no additional employees became eligible for the plan, no additional contributions were made to the ESOP, and all Participants with an account balance under the ESOP became 100% vested. The Company did not contribute to the ESOP during 2016 , 2015 or 2014 . As of December 31, 2016 , there were 149,051 shares outstanding with a fair value of $14.6 million . |
Legal Proceedings
Legal Proceedings | 12 Months Ended |
Dec. 31, 2016 | |
Legal Proceedings | |
Legal Matters and Contingencies [Text Block] | Land and equipment leases We have a ground lease expiring in 2074 related to one of its operating communities acquired in the Merger. This lease contains stated rent increases that generally compensate for the impact of inflation. We also have office, equipment and other operating leases. Future minimum lease payments for non-cancelable land, equipment and other operating leases at December 31, 2016, were as follows (dollars in thousands): 2017 $ 836 2018 703 2019 687 2020 707 2021 719 2022 and thereafter 63,600 Legal proceedings In September 2010, the United States Department of Justice, or DOJ, filed suit against Post Properties (and by virtue of the Merger, MAA) in the United States District Court for the District of Columbia alleging that certain of Post Properties’ apartments violated accessibility requirements of the Fair Housing Act, or FHA. and the Americans with Disabilities Act of 1990, or ADA. The DOJ is seeking, among other things, an injunction against MAA, requiring MAA to retrofit the properties and comply with FHA and ADA standards in future design and construction, as well as monetary damages and civil penalties. No trial date has been set and no significant settlement negotiations with the DOJ have occurred. In addition, we are subject to various other legal proceedings and claims that arise in the ordinary course of its business operations. Matters which arise out of allegations of bodily injury, property damage and employment practices are generally covered by insurance. While the resolution of these other matters cannot be predicted with certainty, management currently believes the final outcome of such matters will not have any additional material adverse effect on our financial position, results of operations or cash flows. Loss Contingencies See discussion of our accounting for loss contingencies in Note 1 (Organization and Summary of Significant Accounting Polices). As of December 31, 2016 and December 31, 2015 , the Company's accrual for loss contingencies was $42.1 million and $13.5 million in the aggregate, respectively. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS In 2016, 2015 and 2014, we held investments in unconsolidated joint ventures accounted for under the equity method of accounting (see note 1). Our portion of all significant intercompany transactions was eliminated in the accompanying consolidated financial statements. All cash management of the Company is managed by the Operating Partnership. In general, cash receipts are remitted to the Operating Partnership and all cash disbursements are funded by the Operating Partnership. As a result of these transactions, the Operating Partnership had a payable to its General Partner (MAA) of $19,000 at each of the years ended December 31, 2016 , and 2015 . The Partnership Agreement does not require that this due to/due from be settled in cash until liquidation of the Operating Partnership and therefore there is no regular settlement schedule for these amounts. |
Earnings from Discontinued Oper
Earnings from Discontinued Operations | 12 Months Ended |
Dec. 31, 2014 | |
Notes To Financial Statements [Abstract] | |
EARNINGS FROM DISCONTINUED OPERATIONS | EARNINGS FROM DISCONTINUED OPERATIONS In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . We adopted ASU 2014-08 during the period ending March 31, 2014. Due to the early adoption of ASU 2014-08, none of the wholly owned multifamily real estate dispositions for the years ended December 31, 2016 and December 31, 2015 were classified as discontinued operations, and the majority of the wholly owned multifamily real estate dispositions for the year ended December 31, 2014 were not classified as discontinued operations. One of the ten properties that we sold during 2014 , Willow Creek, was classified as discontinued operations in the accompanying Consolidated Statements of Operations. Willow Creek was included in discontinued operations because it had been designated as held for sale and was shown in discontinued operations as of December 31, 2013, and thus was not subject to ASU 2014-08. As a result of the adoption of ASU No. 2014-08, the Company did not report any discontinued operations for the year ended December 31, 2016 or the year ended December 31, 2015 . The following is a summary of income from continuing and discontinued operations attributable to MAA and noncontrolling interest for the years ended December 31, 2016 , 2015 and 2014 (dollars in thousands): 2016 2015 2014 Income from continuing operations: Net Income available for shareholders $ 212,222 $ 332,287 $ 142,933 Attributable to noncontrolling interest 12,180 18,458 8,013 Income from continuing operations $ 224,402 $ 350,745 $ 150,946 Income from discontinued operations: Attributable to MAA $ — $ — $ 5,047 Attributable to noncontrolling interest — — 284 Income from discontinued operations $ — $ — $ 5,331 The following is a summary of earnings from discontinued operations for MAA and MAALP for the year ended December 31, 2014 (dollars in thousands): 2014 Revenues: Rental revenues $ 75 Other revenues 10 Total revenues 85 Expenses: Property operating expenses 74 Depreciation and amortization 42 Interest expense 32 Total expenses 148 Income from discontinued operations before gain on sale (63 ) Gain on sale of discontinued operations 5,394 Income from discontinued operations $ 5,331 |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2016 | |
Notes To Financial Statements [Abstract] | |
SEGMENT INFORMATION | SEGMENT INFORMATION As of December 31, 2016 , we owned or had an ownership interest in 303 multifamily apartment communities in 16 different states and the District of Columbia from which we derived all significant sources of earnings and operating cash flows. Senior management evaluates performance and determines resource allocations of each of our apartment communities on a Large Market Same Store, Secondary Market Same Store, and Non-Same Store and Other basis, as well as an individual apartment community basis. This is consistent with the aggregation criteria under GAAP as each of our apartment communities generally has similar economic characteristics, facilities, services, and tenants. The following are the three reportable operating segments for MAA and the Operating Partnership: • Large market same store communities are generally communities in markets with a population of at least 1 million and at least 1% of the total public multifamily REIT units that we have owned and have been stabilized for at least a full 12 months. • Secondary market same store communities are generally communities in markets with populations of more than 1 million but less than 1% of the total public multifamily REIT units or markets with populations of less than 1 million that we have owned and have been stabilized for at least a full 12 months. • Non same store communities and other includes recent acquisitions, communities in development or lease-up, communities that have been identified for disposition, and communities that have undergone a significant casualty loss. Also included in non same store communities are non multifamily activities which represent less than 1% of our portfolio's net operating income, or NOI. On the first day of each calendar year, we determine the composition of our same store operating segments for that year as well as adjusting the previous year, which allows us to evaluate full period-over-period operating comparisons. Properties in development or lease-up will be added to the same store portfolio on the first day of the calendar year after they have been owned and stabilized for at least a full 12 months. Communities are considered stabilized after achieving 90% occupancy for 90 days . Communities that have been identified for disposition are excluded from our same store portfolio. We utilize NOI in evaluating the performance of the segments. Total NOI represents total property revenues less total property operating expenses, excluding depreciation and amortization, for all properties held during the period regardless of their status as held for sale. We believe NOI is a helpful tool in evaluating the operating performance of our segments because it measures the core operations of property performance by excluding corporate level expenses and other items not related to property operating performance. A redevelopment community is a community with a specific plan in place to upgrade at least half of the community's units over a period of time with new finishes, fixtures, and appliances, among other upgrades. These plans include spending a pre-defined amount of capital per unit to achieve a rent increase as a result of the upgrades. We separately identify redevelopment communities that would cause a material distortion of normal same store operating results. Routine renovations occur at a property as items need to be replaced as a normal part of operations and is done with an expectation to maintain the current level of quality at the property. There is no specified plan in place for routine renovations. Revenues and NOI for each reportable segment for the years ended December 31, 2016 , 2015 and 2014 were as follows (dollars in thousands): 2016 2015 2014 (1) Revenues: Large Market Same Store $ 642,679 $ 612,934 $ 553,038 Secondary Market Same Store 337,883 327,700 310,281 Non-Same Store and Other 144,786 102,145 128,859 Total property revenues 1,125,348 1,042,779 992,178 Management fee income — — 154 Total operating revenues $ 1,125,348 $ 1,042,779 $ 992,332 NOI: Large Market Same Store $ 399,287 $ 377,025 $ 334,255 Secondary Market Same Store 212,053 204,382 190,348 Non-Same Store and Other 90,652 60,727 74,211 Total NOI 701,992 642,134 598,814 Discontinued operations NOI included above — — 16 Management fee income — — 154 Depreciation and amortization (322,958 ) (294,520 ) (301,812 ) Acquisition expenses (2,928 ) (2,777 ) (2,388 ) Property management expenses (34,093 ) (30,990 ) (32,095 ) General and administrative expenses (29,040 ) (25,716 ) (20,909 ) Merger related expenses (39,033 ) — (3,152 ) Integration related costs (1,790 ) — (8,395 ) Interest and other non-property income (expense) 724 (368 ) 770 Interest expense (129,947 ) (122,344 ) (123,953 ) Loss on debt extinguishment/modification (83 ) (3,602 ) (2,586 ) Net casualty gain (loss) after insurance and other settlement proceeds 448 473 (476 ) Gain on sale of depreciable real estate assets 80,397 189,958 42,649 Income tax expense (1,699 ) (1,673 ) (2,050 ) Gain on sale of non-depreciable real estate assets 2,171 172 350 Gain (loss) from real estate joint ventures 241 (2 ) 6,009 Discontinued operations — — 5,331 Net income attributable to noncontrolling interests (12,180 ) (18,458 ) (8,297 ) Preferred dividends (307 ) — — Net income available for MAA common shareholders $ 211,915 $ 332,287 $ 147,980 (1) The 2014 column shows the segment break down based on the 2015 same store portfolios. A comparison using the 2016 same store portfolio would not be comparative due to the nature of the segment classifications. Assets for each reportable segment as of December 31, 2016 and 2015 were as follows (dollars in thousands): December 31, 2016 December 31, 2015 Assets Large Market Same Store $ 3,945,122 $ 4,062,595 Secondary Market Same Store 1,707,495 1,756,313 Non-Same Store and Other 5,722,231 956,336 Corporate assets 229,643 72,537 Total assets $ 11,604,491 $ 6,847,781 |
Real Estate Acquisitions and Di
Real Estate Acquisitions and Dispositions | 12 Months Ended |
Dec. 31, 2016 | |
Real Estate Acquisitions and Dispositions [Abstract] | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | REAL ESTATE ACQUISITIONS AND DISPOSITIONS The following chart shows our acquisition activity, excluding properties acquired through the Merger, for the year ended December 31, 2016 : Community Market Units/Acres Date Acquired The Apartments at Cobblestone Square Fredericksburg, Virginia 314 March 1, 2016 Residences at Fountainhead Phoenix, Arizona 322 June 30, 2016 Yale at 6th Houston, Texas 352 September 8, 2016 Innovation Apartment Homes Greenville, South Carolina 336 September 22, 2016 1201 Midtown Charleston, South Carolina 302 December 15, 2016 The following chart shows our disposition activity for the year ended December 31, 2016 : Community Market Units/Sq. Ft./Acres Date Sold McKinney (1) Dallas, Texas 30 acres February 5, 2016 Colonial Promenade Nord du Lac Covington, Louisiana 295,447 sq. ft. March 28, 2016 Colonial Promenade Nord du Lac - Outparcels Covington, Louisiana 25 acres March 28, 2016 Colonial Grand at Heathrow - Adjacent Land Parcels Orlando, Florida 11 acres April 7, 2016 Land Title Building (2) Birmingham, Alabama 29,971 sq. ft. May 23, 2016 Colonial Promenade Huntsville - Outparcel Huntsville, Alabama 1 acre June 29, 2016 CG at Autumn Park Greensboro, North Carolina 402 August 18, 2016 Corners at Crystal Lake Winston-Salem, North Carolina 240 August 18, 2016 CV at Glen Eagles Winston-Salem, North Carolina 310 August 18, 2016 CV at Mill Creek Winston-Salem, North Carolina 220 August 18, 2016 Abbington Place Huntsville, Alabama 152 September 13, 2016 CV at Stone Point Charlotte, North Carolina 192 September 13, 2016 CV at Greystone Charlotte, North Carolina 408 September 13, 2016 CV at Woodlake Raleigh/Durham, North Carolina 266 November 17, 2016 CV at Tradewinds Norfolk/Hampton/Virginia Beach, Virginia 284 November 17, 2016 CV Harbour Club Norfolk/Hampton/Virginia Beach, Virginia 213 November 17, 2016 CV Main Park Dallas, Texas 192 November 17, 2016 Lane at Towne Crossing Dallas, Texas 384 November 17, 2016 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On February 7, 2017, we paid off the $15.8 million remaining principal balance of the mortgage on the Grand Cypress apartment community. |
Selected Quarterly Financial In
Selected Quarterly Financial Information | 12 Months Ended |
Dec. 31, 2016 | |
Selected Quarterly Financial Information [Abstract] | |
SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | SELECTED QUARTERLY FINANCIAL INFORMATION OF MID-AMERICA APARTMENT COMMUNITIES, INC. (UNAUDITED) (Dollars in thousands except per share data) Year Ended December 31, 2016 First Second Third Fourth Total operating revenues $ 269,016 $ 272,236 $ 276,898 $ 307,198 Income from continuing operations before non-operating items $ 76,709 $ 77,794 $ 73,790 $ 43,857 Interest expense $ (32,211 ) $ (32,039 ) $ (32,168 ) $ (33,529 ) Gain (loss) from real estate joint ventures $ 128 $ (101 ) $ — $ 214 Net income $ 45,808 $ 47,630 $ 88,906 $ 42,058 Net income attributable to noncontrolling interest $ 2,395 $ 2,486 $ 4,627 $ 2,672 Dividends to preferred shareholders $ — $ — $ — $ 307 Net income available for MAA common shareholders $ 43,413 $ 45,144 $ 84,279 $ 39,079 Per share: Net income available per common share - basic $ 0.58 $ 0.60 $ 1.12 $ 0.44 Net income available per common share - diluted $ 0.58 $ 0.60 $ 1.12 $ 0.44 Dividend paid $ 0.82 $ 0.82 $ 0.82 $ 0.82 Year Ended December 31, 2015 First Second Third Fourth Total operating revenues $ 258,552 $ 258,891 $ 261,998 $ 263,337 Income from continuing operations before non-operating items $ 69,393 $ 68,837 $ 73,138 $ 76,763 Interest expense $ (30,848 ) $ (30,433 ) $ (30,229 ) $ (30,834 ) Gain (loss) from real estate joint ventures $ 19 $ (23 ) $ (1 ) $ 3 Net income $ 64,677 $ 143,873 $ 96,828 $ 45,367 Net income attributable to noncontrolling interest $ 3,410 $ 7,574 $ 5,094 $ 2,380 Dividends to preferred shareholders $ — $ — $ — $ — Net income available for MAA common shareholders $ 61,267 $ 136,299 $ 91,734 $ 42,987 Per share: Net income available per common share - basic $ 0.81 $ 1.81 $ 1.22 $ 0.57 Net income available per common share - diluted $ 0.81 $ 1.81 $ 1.22 $ 0.57 Dividend paid $ 0.77 $ 0.77 $ 0.77 $ 0.77 . SELECTED QUARTERLY FINANCIAL INFORMATION OF MID-AMERICA APARTMENTS, L.P. (UNAUDITED) (Dollars in thousands except per unit data) Year Ended December 31, 2016 First Second Third Fourth Total operating revenues $ 269,016 $ 272,236 $ 276,898 $ 307,198 Income from continuing operations before non-operating items $ 76,709 $ 77,794 $ 73,790 $ 43,857 Interest expense $ (32,211 ) $ (32,039 ) $ (32,168 ) $ (33,529 ) Gain (loss) from real estate joint ventures $ 128 $ (101 ) $ — $ 214 Net Income $ 45,808 $ 47,630 $ 88,906 $ 42,058 Dividends to preferred unitholders $ — $ — $ — $ 307 Net income available for common unitholders $ 45,808 $ 47,630 $ 88,906 $ 41,751 Per unit: Net income available per common unit - basic $ 0.61 $ 0.60 $ 1.12 $ 0.45 Net income available per common unit - diluted $ 0.61 $ 0.60 $ 1.12 $ 0.45 Distribution paid $ 0.82 $ 0.82 $ 0.82 $ 0.82 Year Ended December 31, 2015 First Second Third Fourth Total operating revenues $ 258,552 $ 258,891 $ 261,998 $ 263,337 Income from continuing operations before non-operating items $ 69,393 $ 68,837 $ 73,138 $ 76,763 Interest expense $ (30,848 ) $ (30,433 ) $ (30,229 ) $ (30,834 ) Gain (loss) from real estate joint ventures $ 19 $ (23 ) $ (1 ) $ 3 Net income $ 64,677 $ 143,873 $ 96,828 $ 45,367 Dividends to preferred unitholders $ — $ — $ — $ — Net income available for common unitholders $ 64,677 $ 143,873 $ 96,828 $ 45,367 Per unit: Net income available per common unit - basic $ 0.81 $ 1.81 $ 1.22 $ 0.57 Net income available per common unit - diluted $ 0.81 $ 1.81 $ 1.22 $ 0.57 Distribution paid $ 0.77 $ 0.77 $ 0.77 $ 0.77 |
Schedule III Real Estate and Ac
Schedule III Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2016 | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Schedule III Real Estate and Accumulated Depreciation | Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Birchall at Ross Bridge Birmingham, AL — $ 2,640 $ 28,842 $ — $ 1,072 $ 2,640 $ 29,914 $ 32,554 $ (5,587 ) $ 26,967 2009 1 - 40 Colonial Grand at Riverchase Trails Birmingham, AL — 3,761 22,079 — 2,259 3,761 24,338 28,099 (3,881 ) 24,218 2010 1 - 40 Colonial Village at Trussville Birmingham, AL — 3,402 31,813 — 1,694 3,402 33,507 36,909 (4,868 ) 32,041 1996/97 1 - 40 Eagle Ridge Birmingham, AL — (1) 851 7,667 — 3,593 851 11,260 12,111 (6,842 ) 5,269 1986 1 - 40 Colonial Grand at Traditions Gulf Shores,AL — 3,211 25,162 — 1,558 3,211 26,720 29,931 (4,202 ) 25,729 2007 1 - 40 Colonial Grand at Edgewater Huntsville, AL 20,472 4,943 38,673 — 3,904 4,943 42,577 47,520 (5,669 ) 41,851 1990 1 - 40 Paddock Club at Providence Huntsville, AL — 909 10,152 830 13,272 1,739 23,424 25,163 (12,467 ) 12,696 1993 1 - 40 Colonial Grand at Madison Madison, AL 17,028 3,601 28,934 — 1,119 3,601 30,053 33,654 (4,488 ) 29,166 2000 1 - 40 Paddock Club Montgomery Montgomery, AL — 965 13,190 — 1,769 965 14,959 15,924 (7,299 ) 8,625 1999 1 - 40 Cypress Village Orange Beach, AL — 1,290 12,238 — 583 1,290 12,821 14,111 (1,861 ) 12,250 2008 1 - 40 Colonial Grand at Liberty Park Vestavia Hills, AL 16,404 3,922 30,977 — 3,249 3,922 34,226 38,148 (4,992 ) 33,156 2000 1 - 40 Edge at Lyon's Gate Phoenix, AZ — 7,901 27,182 — 1,891 7,901 29,073 36,974 (8,483 ) 28,491 2007 1 - 40 Residences at Fountainhead Phoenix, AZ — 12,212 56,705 — 566 12,212 57,271 69,483 (875 ) 68,608 2015 1 - 40 Sky View Ranch Gilbert, AZ — 2,668 14,577 — 1,832 2,668 16,409 19,077 (4,413 ) 14,664 2007 1 - 40 Talus Ranch Phoenix, AZ — 12,741 47,701 — 2,153 12,741 49,854 62,595 (17,449 ) 45,146 2005 1 - 40 Colonial Grand at Inverness Commons Mesa, AZ — 4,219 26,255 — 1,211 4,219 27,466 31,685 (3,931 ) 27,754 2002 1 - 40 Colonial Grand at Scottsdale Scottsdale, AZ — 3,612 20,273 — 1,660 3,612 21,933 25,545 (3,137 ) 22,408 1999 1 - 40 Colonial Grand at OldTown Scottsdale Scottsdale, AZ — 7,820 51,627 — 3,589 7,820 55,216 63,036 (7,643 ) 55,393 1994/95 1 - 40 SkySong Scottsdale, AZ — — 55,748 — 609 — 56,357 56,357 (2,310 ) 54,047 2014 1 - 40 Calais Forest Little Rock, AR — 1,026 9,244 — 7,442 1,026 16,686 17,712 (10,657 ) 7,055 1987 1 - 40 Napa Valley Little Rock, AR — 960 8,642 — 4,833 960 13,475 14,435 (8,507 ) 5,928 1984 1 - 40 Palisades at Chenal Valley Little Rock, AR — 2,560 25,234 — 2,941 2,560 28,175 30,735 (5,145 ) 25,590 2006 1 - 40 Ridge at Chenal Valley Little Rock, AR — 2,626 — — 27,222 2,626 27,222 29,848 (3,130 ) 26,718 2012 1 - 40 Westside Creek Little Rock, AR — 1,271 11,463 — 7,554 1,271 19,017 20,288 (11,244 ) 9,044 1984/86 1 - 40 Tiffany Oaks Altamonte Springs, FL — (1) 1,024 9,219 — 4,671 1,024 13,890 14,914 (9,016 ) 5,898 1985 1 - 40 Indigo Point Brandon, FL — (1) 1,167 10,500 — 3,219 1,167 13,719 14,886 (7,929 ) 6,957 1989 1 - 40 Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Paddock Club Brandon Brandon, FL — 2,896 26,111 — 5,223 2,896 31,334 34,230 (17,961 ) 16,269 1998 1 - 40 Colonial Grand at Lakewood Ranch Bradenton, FL — 2,980 40,230 — 2,515 2,980 42,745 45,725 (5,885 ) 39,840 1999 1 - 40 The Preserve at Coral Square Coral Springs, FL — 9,600 40,004 — 8,573 9,600 48,577 58,177 (20,516 ) 37,661 1996 1 - 40 Paddock Club Gainesville Gainesville, FL — 1,800 15,879 — 4,295 1,800 20,174 21,974 (8,645 ) 13,329 1999 1 - 40 The Retreat at Magnolia Park Gainesville, FL — 2,040 16,338 — 504 2,040 16,842 18,882 (3,299 ) 15,583 2009 1 - 40 Colonial Grand at Heathrow Heathrow, FL 20,310 4,101 35,684 — 2,072 4,101 37,756 41,857 (5,448 ) 36,409 1997 1 - 40 220 Riverside Jacksonville, FL — 2,500 38,416 — 2,180 2,500 40,596 43,096 (1,362 ) 41,734 2015 1 - 40 Atlantic Crossing Jacksonville, FL — 4,000 19,495 — 1,393 4,000 20,888 24,888 (4,246 ) 20,642 2008 1 - 40 Cooper's Hawk Jacksonville, FL — 854 7,500 — 3,250 854 10,750 11,604 (7,460 ) 4,144 1987 1 - 40 Hunter's Ridge at Deerwood Jacksonville, FL — 1,533 13,835 — 5,121 1,533 18,956 20,489 (11,640 ) 8,849 1987 1 - 40 Lakeside Jacksonville, FL — 1,430 12,883 — 7,341 1,430 20,224 21,654 (14,045 ) 7,609 1985 1 - 40 Lighthouse at Fleming Island Jacksonville, FL — (1) 4,047 35,052 — 4,769 4,047 39,821 43,868 (17,929 ) 25,939 2003 1 - 40 Paddock Club Mandarin Jacksonville, FL — 1,411 14,967 — 2,382 1,411 17,349 18,760 (8,381 ) 10,379 1998 1 - 40 St. Augustine Jacksonville, FL — 2,857 6,475 — 19,440 2,857 25,915 28,772 (11,487 ) 17,285 1987 1 - 40 St. Augustine II Jacksonville, FL — — — — — — — — — — 2008 1 - 40 Tattersall at Tapestry Park Jacksonville, FL — 6,417 36,069 — 859 6,417 36,928 43,345 (7,033 ) 36,312 2009 1 - 40 Woodhollow Jacksonville, FL — (1) 1,686 15,179 (8 ) 8,356 1,678 23,535 25,213 (15,203 ) 10,010 1986 1 - 40 Paddock Club Lakeland Lakeland, FL — 1,221 20,452 — 7,447 1,221 27,899 29,120 (17,072 ) 12,048 1988/90 1 - 40 Colonial Grand at Town Park Lake Mary, FL 36,208 5,742 56,562 — 2,341 5,742 58,903 64,645 (8,810 ) 55,835 2005 1 - 40 Colonial Grand at Town Park Reserve Lake Mary, FL — 3,481 10,311 — 274 3,481 10,585 14,066 (1,610 ) 12,456 2004 1 - 40 Colonial Grand at Lake Mary Lake Mary, FL — 6,346 41,539 — 22,933 6,346 64,472 70,818 (7,171 ) 63,647 2012 1 - 40 Retreat at Lake Nona Orlando, FL — 7,880 41,175 — 2,484 7,880 43,659 51,539 (6,803 ) 44,736 2006 1 - 40 Colonial Grand at Heather Glen Orlando, FL — 4,662 56,988 — 3,473 4,662 60,461 65,123 (8,260 ) 56,863 2000 1 - 40 Colonial Grand at Randal Lakes Orlando, FL — 5,659 50,553 — 10,544 5,659 61,097 66,756 (4,479 ) 62,277 2013 1 - 40 Post Lake at Baldwin Park Orlando, FL — 18,137 144,474 — 129 18,137 144,603 162,740 (479 ) 162,261 2011 1 - 40 Post Lakeside Orlando, FL — 7,060 52,688 — 39 7,060 52,727 59,787 (157 ) 59,630 2013 1 - 40 Post Parkside Orlando, FL — 5,680 49,849 — 47 5,680 49,896 55,576 (167 ) 55,409 1999 1 - 40 Park Crest at Innisbrook Palm Harbor, FL 27,805 6,900 26,613 — 1,575 6,900 28,188 35,088 (7,835 ) 27,253 2000 1 - 40 The Club at Panama Beach Panama City, FL — 898 14,276 (5 ) 3,476 893 17,752 18,645 (9,179 ) 9,466 2000 1 - 40 Colonial Village at Twin Lakes Sanford, FL 23,691 3,091 47,793 — 1,325 3,091 49,118 52,209 (7,053 ) 45,156 2005 1 - 40 Paddock Club Tallahassee Tallahassee, FL — 530 4,805 950 14,079 1,480 18,884 20,364 (11,387 ) 8,977 1992 1 - 40 Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Verandas at Southwood Tallahassee, FL — 3,600 25,914 — 476 3,600 26,390 29,990 (2,217 ) 27,773 2003 1 - 40 Belmere Tampa, FL — (1) 852 7,667 — 5,654 852 13,321 14,173 (9,259 ) 4,914 1984 1 - 40 Links at Carrollwood Tampa, FL — 817 7,355 110 4,887 927 12,242 13,169 (7,431 ) 5,738 1980 1 - 40 Post Bay at Rocky Point Tampa, FL — 4,550 28,437 — 24 4,550 28,461 33,011 (90 ) 32,921 1997 1 - 40 Post Harbour Place Tampa, FL — 16,329 116,412 — 87 16,329 116,499 132,828 (401 ) 132,427 1997 1 - 40 Post Hyde Park Tampa, FL 42,807 16,925 95,441 — 84 16,925 95,525 112,450 (330 ) 112,120 1994 1 - 40 Post Rocky Point Tampa, FL — 35,331 153,397 — 137 35,331 153,534 188,865 (502 ) 188,363 1994-1996 1 - 40 Post Soho Square Tampa, FL — 5,201 56,397 — 38 5,201 56,435 61,636 (215 ) 61,421 2012 1 - 40 Village Oaks Tampa, FL — 2,738 19,055 153 2,185 2,891 21,240 24,131 (6,126 ) 18,005 2005 1 - 40 Colonial Grand at Hampton Preserve Tampa, FL — 6,233 69,535 — 981 6,233 70,516 76,749 (9,408 ) 67,341 2012 1 - 40 Colonial Grand at Seven Oaks Wesley Chapel, FL 25,015 3,051 42,768 — 1,306 3,051 44,074 47,125 (5,931 ) 41,194 2004 1 - 40 Colonial Grand at Windermere Windermere, FL — 2,711 36,710 — 844 2,711 37,554 40,265 (4,930 ) 35,335 2009 1 - 40 Allure at Brookwood Atlanta, GA — 11,168 52,758 — 3,662 11,168 56,420 67,588 (8,811 ) 58,777 2008 1 - 40 Allure in Buckhead Village Residential Atlanta, GA — 8,633 19,844 — 5,625 8,633 25,469 34,102 (4,603 ) 29,499 2002 1 - 40 The High Rise at Post Alexander Atlanta, GA — 8,452 92,440 — 122 8,452 92,562 101,014 (450 ) 100,564 2015 1 - 40 Post Alexander Atlanta, GA — 15,471 73,418 — 64 15,471 73,482 88,953 (237 ) 88,716 2006 1 - 40 Post Briarcliff Atlanta, GA 55,365 24,694 115,145 — 103 24,694 115,248 139,942 (359 ) 139,583 1996 1 - 40 Post Brookhaven Atlanta, GA — 29,106 106,666 — 107 29,106 106,773 135,879 (361 ) 135,518 1989-1992 1 - 40 Post Chastain Atlanta, GA — 30,284 83,125 — 83 30,284 83,208 113,492 (258 ) 113,234 1990 1 - 40 Post Crossing Atlanta, GA 24,858 15,831 48,147 — 56 15,831 48,203 64,034 (157 ) 63,877 1995 1 - 40 Post Gardens Atlanta, GA — 17,943 56,198 — 102 17,943 56,300 74,243 (194 ) 74,049 1996 1 - 40 Post Glen Atlanta, GA 25,825 13,906 51,178 — 62 13,906 51,240 65,146 (162 ) 64,984 1996 1 - 40 Post Parkside Atlanta, GA — 11,047 34,345 — 27 11,047 34,372 45,419 (102 ) 45,317 1999 1 - 40 Post Peachtree Hills Atlanta, GA — 11,998 55,372 — 50 11,998 55,422 67,420 (171 ) 67,249 1992-1994/2009 1 - 40 Post Riverside Atlanta, GA — 23,813 89,532 — 117 23,813 89,649 113,462 (332 ) 113,130 1996 1 - 40 Post Spring Atlanta, GA — 18,634 57,927 — 65 18,634 57,992 76,626 (204 ) 76,422 1999 1 - 40 Post Stratford Atlanta, GA — — 30,107 — 23 — 30,130 30,130 (104 ) 30,026 1999 1 - 40 Sanctuary at Oglethorpe Atlanta, GA — 6,875 31,441 — 3,945 6,875 35,386 42,261 (10,954 ) 31,307 1994 1 - 40 Terraces at Fieldstone Conyers, GA — 1,284 15,819 — 2,464 1,284 18,283 19,567 (8,518 ) 11,049 1999 1 - 40 Prescott Duluth, GA — (2) 3,840 24,011 — 3,216 3,840 27,227 31,067 (11,318 ) 19,749 2001 1 - 40 Colonial Grand at Berkeley Lake Duluth, GA — 1,960 15,707 — 1,381 1,960 17,088 19,048 (2,839 ) 16,209 1998 1 - 40 Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Colonial Grand at River Oaks Duluth, GA 15,114 4,360 13,579 — 1,375 4,360 14,954 19,314 (3,126 ) 16,188 1992 1 - 40 Colonial Grand at River Plantation Duluth, GA — 2,059 19,158 — 1,525 2,059 20,683 22,742 (3,427 ) 19,315 1994 1 - 40 Colonial Grand at McDaniel Farm Duluth, GA — 3,985 32,206 — 2,710 3,985 34,916 38,901 (5,734 ) 33,167 1997 1 - 40 Colonial Grand at Pleasant Hill Duluth, GA — 6,753 32,202 — 2,677 6,753 34,879 41,632 (5,553 ) 36,079 1996 1 - 40 Colonial Grand at Mount Vernon Dunwoody, GA 15,430 6,861 23,748 — 2,122 6,861 25,870 32,731 (3,498 ) 29,233 1997 1 - 40 Lake Lanier Club I Gainesville, GA — 3,560 22,611 — 4,445 3,560 27,056 30,616 (10,877 ) 19,739 1998 1 - 40 Lake Lanier Club II Gainesville, GA — (2) 3,150 18,383 — 2,151 3,150 20,534 23,684 (8,116 ) 15,568 2001 1 - 40 Colonial Grand at Shiloh Kennesaw, GA 29,518 4,864 45,893 — 2,454 4,864 48,347 53,211 (7,224 ) 45,987 2002 1 - 40 Millstead Village LaGrange, GA — 3,100 29,240 — 458 3,100 29,698 32,798 (4,135 ) 28,663 1998 1 - 40 Colonial Grand at Barrett Creek Marietta, GA 22,146 5,661 26,186 — 1,863 5,661 28,049 33,710 (4,713 ) 28,997 1999 1 - 40 Colonial Grand at Godley Station Pooler, GA 11,213 1,800 35,454 — 1,784 1,800 37,238 39,038 (5,079 ) 33,959 2001 1 - 40 Colonial Grand at Godley Lake Pooler, GA — 1,750 30,893 — 853 1,750 31,746 33,496 (4,563 ) 28,933 2008 1 - 40 Avala at Savannah Quarters Savannah, GA — 1,500 24,862 — 1,750 1,500 26,612 28,112 (4,947 ) 23,165 2009 1 - 40 Georgetown Grove Savannah, GA — 1,288 11,579 — 2,976 1,288 14,555 15,843 (8,724 ) 7,119 1997 1 - 40 Colonial Grand at Hammocks Savannah, GA — 2,441 36,863 — 2,164 2,441 39,027 41,468 (5,343 ) 36,125 1997 1 - 40 Colonial Village at Greentree Savannah, GA — 1,710 10,494 — 832 1,710 11,326 13,036 (2,038 ) 10,998 1984 1 - 40 Colonial Village at Huntington Savannah, GA — 2,521 8,223 — 573 2,521 8,796 11,317 (1,382 ) 9,935 1986 1 - 40 Colonial Village at Marsh Cove Savannah, GA — 5,231 8,555 — 672 5,231 9,227 14,458 (1,715 ) 12,743 1983 1 - 40 Oaks at Wilmington Island Savannah, GA — 2,910 25,315 (46 ) 3,429 2,864 28,744 31,608 (10,188 ) 21,420 1999 1 - 40 Highlands of West Village I Smyrna, GA 38,672 9,052 43,395 — 5,221 9,052 48,616 57,668 (3,765 ) 53,903 2006 1 - 40 Highlands of West Village II Smyrna, GA — 5,358 30,338 — 78 5,358 30,416 35,774 (2,229 ) 33,545 2012 1 - 40 Terraces at Townelake Woodstock, GA — 1,331 11,918 1,688 21,692 3,019 33,610 36,629 (18,017 ) 18,612 1999 1 - 40 Haven at Praire Trace Overland Park, KS — 3,500 40,614 — 787 3,500 41,401 44,901 (1,527 ) 43,374 2015 1 - 40 Grand Reserve at Pinnacle Lexington, KY — (1) 2,024 31,525 — 4,378 2,024 35,903 37,927 (15,607 ) 22,320 2000 1 - 40 Lakepointe Lexington, KY — 411 3,699 — 2,328 411 6,027 6,438 (4,183 ) 2,255 1986 1 - 40 Mansion, The Lexington, KY — (1) 694 6,242 — 3,225 694 9,467 10,161 (6,669 ) 3,492 1989 1 - 40 Village, The Lexington, KY — (1) 900 8,097 — 4,283 900 12,380 13,280 (8,662 ) 4,618 1989 1 - 40 Stonemill Village Louisville, KY — 1,169 10,518 — 8,923 1,169 19,441 20,610 (12,906 ) 7,704 1985 1 - 40 Crosswinds Jackson, MS — 1,535 13,826 — 4,544 1,535 18,370 19,905 (12,072 ) 7,833 1989 1 - 40 Pear Orchard Jackson, MS — 1,351 12,168 — 8,061 1,351 20,229 21,580 (13,723 ) 7,857 1985 1 - 40 Reflection Pointe Jackson, MS — 710 8,770 138 8,275 848 17,045 17,893 (11,088 ) 6,805 1986 1 - 40 Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Lakeshore Landing Ridgeland, MS — 676 6,284 — 2,811 676 9,095 9,771 (4,145 ) 5,626 1974 1 - 40 Market Station Kansas City, MO — 5,814 46,241 — 1,322 5,814 47,563 53,377 (6,925 ) 46,452 2010 1 - 40 Residences at Burlington Creek Kansas City, MO — 4,000 42,144 — 514 4,000 42,658 46,658 (2,203 ) 44,455 2013/14 1 - 40 The Denton Kansas City, MO — 750 8,795 — 48 750 8,843 9,593 (225 ) 9,368 2014 1 - 40 Colonial Grand at Desert Vista North Las Vegas, NV — 4,091 29,826 — 949 4,091 30,775 34,866 (4,535 ) 30,331 2009 1 - 40 Colonial Grand at Palm Vista North Las Vegas, NV — 4,909 25,643 — 1,537 4,909 27,180 32,089 (4,175 ) 27,914 2007 1 - 40 Colonial Village at Beaver Creek Apex, NC — 7,491 34,863 — 1,275 7,491 36,138 43,629 (4,968 ) 38,661 2007 1 - 40 Hermitage at Beechtree Cary, NC — (1) 900 8,099 — 4,377 900 12,476 13,376 (7,483 ) 5,893 1988 1 - 40 Waterford Forest Cary, NC — (2) 4,000 20,250 — 3,221 4,000 23,471 27,471 (9,431 ) 18,040 1996 1 - 40 1225 South Church I Charlotte, NC — 9,612 22,342 — 24,977 9,612 47,319 56,931 (6,178 ) 50,753 2010 1 - 40 Colonial Grand at Ayrsley Charlotte, NC — 2,481 52,119 — 12,797 2,481 64,916 67,397 (8,282 ) 59,115 2008 1 - 40 Colonial Grand at Beverly Crest Charlotte, NC 16,462 3,161 24,004 — 2,129 3,161 26,133 29,294 (3,617 ) 25,677 1996 1 - 40 Colonial Grand at Legacy Park Charlotte, NC — 2,891 28,272 — 1,646 2,891 29,918 32,809 (4,282 ) 28,527 2001 1 - 40 Colonial Grand at Mallard Creek Charlotte, NC 14,520 4,591 27,713 — 959 4,591 28,672 33,263 (4,170 ) 29,093 2005 1 - 40 Colonial Grand at Mallard Lake Charlotte, NC 19,942 3,250 31,389 — 2,327 3,250 33,716 36,966 (4,907 ) 32,059 1998 1 - 40 Colonial Grand at University Center Charlotte, NC — 1,620 17,499 — 511 1,620 18,010 19,630 (2,437 ) 17,193 2005 1 - 40 Colonial Reserve at South End Charlotte, NC — 4,628 44,282 — 11,006 4,628 55,288 59,916 (3,868 ) 56,048 2013 1 - 40 Colonial Village at Chancellor Park Charlotte, NC — 5,311 28,016 — 2,632 5,311 30,648 35,959 (4,161 ) 31,798 1999 1 - 40 Colonial Village at South Tryon Charlotte, NC — 2,260 19,489 — 1,121 2,260 20,610 22,870 (2,951 ) 19,919 2002 1 - 40 Colonial Village at Timber Crest Charlotte, NC — 2,901 17,192 — 1,435 2,901 18,627 21,528 (2,454 ) 19,074 2000 1 - 40 Enclave Charlotte, NC — 1,461 18,984 — 675 1,461 19,659 21,120 (2,366 ) 18,754 2008 1 - 40 Post Ballantyne Charlotte, NC — 16,249 44,904 — 46 16,249 44,950 61,199 (138 ) 61,061 2004 1 - 40 Post Gateway Place Charlotte, NC — 17,563 57,552 — 56 17,563 57,608 75,171 (199 ) 74,972 2000 1 - 40 Post Park at Phillips Place Charlotte, NC — 20,911 65,642 — 116 20,911 65,758 86,669 (215 ) 86,454 1996 1 - 40 Post South End Charlotte, NC — 18,873 58,912 — 48 18,873 58,960 77,833 (169 ) 77,664 2009 1 - 40 Post Uptown Place Charlotte, NC — 10,910 30,136 — 28 10,910 30,164 41,074 (99 ) 40,975 2000 1 - 40 Colonial Grand at Cornelius Cornelius, NC — 4,571 29,151 — 848 4,571 29,999 34,570 (4,455 ) 30,115 2009 1 - 40 Colonial Grand at Patterson Place Durham, NC 13,343 2,590 27,126 — 1,744 2,590 28,870 31,460 (4,023 ) 27,437 1997 1 - 40 Colonial Village at Deerfield Durham, NC — 3,271 15,609 — 1,016 3,271 16,625 19,896 (2,827 ) 17,069 1985 1 - 40 Colonial Grand at Research Park Durham, NC — 4,201 37,682 — 1,395 4,201 39,077 43,278 (5,671 ) 37,607 2002 1 - 40 Colonial Grand at Huntersville Huntersville, NC 20,376 4,251 31,948 — 1,300 4,251 33,248 37,499 (4,786 ) 32,713 2008 1 - 40 Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Colonial Village at Matthews Matthews, NC — 3,071 21,830 — 3,339 3,071 25,169 28,240 (3,993 ) 24,247 2008 1 - 40 Colonial Grand at Matthews Commons Matthews, NC — 3,690 28,536 — 1,481 3,690 30,017 33,707 (4,193 ) 29,514 2008 1 - 40 Colonial Grand at Arringdon Morrisville, NC 22,153 6,401 31,134 — 1,663 6,401 32,797 39,198 (4,680 ) 34,518 2003 1 - 40 Colonial Grand at Brier Creek Raleigh, NC 28,856 7,372 50,202 — 1,257 7,372 51,459 58,831 (7,029 ) 51,802 2010 1 - 40 Colonial Grand at Brier Falls Raleigh, NC — 6,572 48,910 — 1,075 6,572 49,985 56,557 (6,730 ) 49,827 2008 1 - 40 Colonial Grand at Crabtree Valley Raleigh, NC 12,219 2,241 18,434 — 1,208 2,241 19,642 21,883 (2,581 ) 19,302 1997 1 - 40 Hue Raleigh, NC — 3,690 29,910 — 2,161 3,690 32,071 35,761 (5,783 ) 29,978 2009 1 - 40 Colonial Grand at Trinity Commons Raleigh, NC 27,974 5,232 45,138 — 2,084 5,232 47,222 52,454 (6,973 ) 45,481 2000/02 1 - 40 Post Parkside at Wade Raleigh, NC — 7,211 52,064 — 37 7,211 52,101 59,312 (204 ) 59,108 2011 1 - 40 Preserve at Brier Creek Raleigh, NC — 5,850 21,980 (19 ) 24,242 5,831 46,222 52,053 (14,514 ) 37,539 2004 1 - 40 Providence at Brier Creek Raleigh, NC — 4,695 29,007 — 1,561 4,695 30,568 35,263 (8,939 ) 26,324 2007 1 - 40 Tanglewood Anderson, SC — 427 3,853 — 2,911 427 6,764 7,191 (4,810 ) 2,381 1980 1 - 40 Colonial Grand at Cypress Cove Charleston, SC — 3,610 28,645 — 1,464 3,610 30,109 33,719 (4,347 ) 29,372 2001 1 - 40 Colonial Village at Hampton Pointe Charleston, SC — 3,971 22,790 — 3,112 3,971 25,902 29,873 (3,680 ) 26,193 1986 1 - 40 Colonial Grand at Quarterdeck Charleston, SC — 920 24,097 — 4,897 920 28,994 29,914 (3,783 ) 26,131 1987 1 - 40 Colonial Village at Westchase Charleston, SC — 4,571 20,091 — 1,932 4,571 22,023 26,594 (3,634 ) 22,960 1985 1 - 40 River's Walk Charleston, SC — 5,200 28,682 — 283 5,200 28,965 34,165 (2,314 ) 31,851 2013 1 - 40 River's Walk II Charleston, SC — 3,631 10,748 — 8 3,631 10,756 14,387 (130 ) 14,257 2016 1 - 40 1201 Midtown Charleston, SC — 11,929 57,885 — 50 11,929 57,935 69,864 (140 ) 69,724 2015 1 - 40 Fairways, The Columbia, SC — 910 8,207 — 3,230 910 11,437 12,347 (7,850 ) 4,497 1992 1 - 40 Paddock Club Columbia Columbia, SC — 1,840 16,560 — 4,123 1,840 20,683 22,523 (12,692 ) 9,831 1991 1 - 40 Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Colonial Village at Windsor Place Goose Creek, SC — 1,321 14,163 — 1,919 1,321 16,082 17,403 (2,593 ) 14,810 1985 1 - 40 Highland Ridge Greenville, SC — 482 4,337 — 2,406 482 6,743 7,225 (4,298 ) 2,927 1984 1 - 40 Howell Commons Greenville, SC — (1) 1,304 11,740 — 3,263 1,304 15,003 16,307 (9,725 ) 6,582 1987 1 - 40 Paddock Club Greenville Greenville, SC — (1) 1,200 10,800 — 1,783 1,200 12,583 13,783 (7,885 ) 5,898 1996 1 - 40 Park Haywood Greenville, SC — (1) 325 2,925 35 4,230 360 7,155 7,515 (5,087 ) 2,428 1983 1 - 40 Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Spring Creek Greenville, SC — 597 5,374 (14 ) 2,879 583 8,253 8,836 (5,483 ) 3,353 1985 1 - 40 Innovation Apartment Homes Greenville, SC — 4,437 52,026 — 171 4,437 52,197 56,634 (444 ) 56,190 2015 1 - 40 Runaway Bay Mt. Pleasant, SC — 1,085 7,269 12 5,913 1,097 13,182 14,279 (8,096 ) 6,183 1988 1 - 40 Colonial Grand at Commerce Park North Charleston, SC — 2,780 33,966 — 1,238 2,780 35,204 37,984 (4,877 ) 33,107 2008 1 - 40 535 Brookwood Simpsonville, SC 12,610 1,216 18,666 — 1,057 1,216 19,723 20,939 (4,490 ) 16,449 2008 1 - 40 Park Place Spartanburg, SC — 723 6,504 — 2,973 723 9,477 10,200 (5,972 ) 4,228 1987 1 - 40 Farmington Village Summerville, SC — 2,800 26,295 — 1,543 2,800 27,838 30,638 (8,718 ) 21,920 2007 1 - 40 Colonial Village at Waters Edge Summerville, SC — 2,103 9,187 — 2,949 2,103 12,136 14,239 (2,148 ) 12,091 1985 1 - 40 Hamilton Pointe Chattanooga, TN — 1,131 10,632 — 4,215 1,131 14,847 15,978 (6,593 ) 9,385 1989 1 - 40 Hidden Creek Chattanooga, TN — (1) 972 8,954 — 4,622 972 13,576 14,548 (5,183 ) 9,365 1987 1 - 40 Steeplechase Chattanooga, TN — 217 1,957 — 3,055 217 5,012 5,229 (3,343 ) 1,886 1986 1 - 40 Windridge Chattanooga, TN — 817 7,416 — 3,854 817 11,270 12,087 (7,018 ) 5,069 1984 1 - 40 Kirby Station Memphis, TN — 1,148 10,337 — 9,713 1,148 20,050 21,198 (12,593 ) 8,605 1978 1 - 40 Lincoln on the Green Memphis, TN — (1) 1,498 20,483 — 14,800 1,498 35,283 36,781 (23,470 ) 13,311 1992 1 - 40 Park Estate Memphis, TN — 178 1,141 — 4,690 178 5,831 6,009 (4,515 ) 1,494 1974 1 - 40 Reserve at Dexter Lake Memphis, TN — 1,260 16,043 2,147 38,978 3,407 55,021 58,428 (23,640 ) 34,788 2000 1 - 40 Paddock Club Murfreesboro Murfreesboro, TN — 915 14,774 — 2,950 915 17,724 18,639 (8,414 ) 10,225 1999 1 - 40 Aventura at Indian Lake Village Nashville, TN — 4,950 28,053 — 1,217 4,950 29,270 34,220 (5,466 ) 28,754 2010 1 - 40 Avondale at Kennesaw Nashville, TN 17,378 3,456 22,443 — 1,705 3,456 24,148 27,604 (5,550 ) 22,054 2008 1 - 40 Brentwood Downs Nashville, TN — 1,193 10,739 (2 ) 6,091 1,191 16,830 18,021 (10,992 ) 7,029 1986 1 - 40 Colonial Grand at Bellevue Nashville, TN 20,893 8,622 34,229 — 1,763 8,622 35,992 44,614 (5,451 ) 39,163 1996 1 - 40 Colonial Grand at Bellevue (Phase II) Nashville, TN — 8,656 29,967 — 64 8,656 30,031 38,687 (1,294 ) 37,393 2015 1 - 40 Grand View Nashville Nashville, TN — 2,963 33,673 — 6,414 2,963 40,087 43,050 (17,055 ) 25,995 2001 1 - 40 Monthaven Park Nashville, TN — 2,736 28,902 — 4,821 2,736 33,723 36,459 (14,774 ) 21,685 2000 1 - 40 Park at Hermitage Nashville, TN — 1,524 14,800 — 8,308 1,524 23,108 24,632 (15,306 ) 9,326 1987 1 - 40 Venue at Cool Springs Nashville, TN — 6,670 — — 50,973 6,670 50,973 57,643 (5,770 ) 51,873 2012 1 - 40 Verandas at Sam Ridley Nashville, TN 21,388 3,350 28,308 — 1,541 3,350 29,849 33,199 (6,687 ) 26,512 2009 1 - 40 Northwood Arlington, TX — 886 8,051 — 2,826 886 10,877 11,763 (4,828 ) 6,935 1980 1 - 40 Balcones Woods Austin, TX — 1,598 14,398 — 8,516 1,598 22,914 24,512 (14,395 ) 10,117 1983 1 - 40 Colonial Grand at Canyon Creek Austin, TX 13,951 3,621 32,137 — 1,305 3,621 33,442 37,063 (4,854 ) 32,209 2008 1 - 40 Colonial Grand at Canyon Ranch Austin, TX — 3,778 20,201 — 1,489 3,778 21,690 25,468 (3,477 ) 21,991 2003 1 - 40 Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Colonial Grand at Double Creek Austin, TX — 3,131 29,375 — 443 3,131 29,818 32,949 (4,408 ) 28,541 2013 1 - 40 Colonial Grand at Onion Creek Austin, TX — 4,902 33,010 — 1,080 4,902 34,090 38,992 (5,034 ) 33,958 2009 1 - 40 Grand Reserve at Sunset Valley Austin, TX — 3,150 11,393 — 3,126 3,150 14,519 17,669 (6,067 ) 11,602 1996 1 - 40 Colonial Village at Quarry Oaks Austin, TX 30,417 4,621 34,461 — 4,799 4,621 39,260 43,881 (6,005 ) 37,876 1996 1 - 40 Colonial Grand at Wells Branch Austin, TX — 3,094 32,283 294 1,084 3,388 33,367 36,755 (4,581 ) 32,174 2008 1 - 40 Legacy at Western Oaks Austin, TX — 9,100 49,339 — (1,358 ) 9,100 47,981 57,081 (7,921 ) 49,160 2001 1 - 40 Post Barton Creek Austin, TX — 8,700 21,538 — 28 8,700 21,566 30,266 (80 ) 30,186 1998 1 - 40 Post Park Mesa Austin, TX — 4,662 19,867 — 15 4,662 19,882 24,544 (64 ) 24,480 1992 1 - 40 Post South Lamar Austin, TX — 11,565 41,361 — 33 11,565 41,394 52,959 (176 ) 52,783 2011 1 - 40 Post West Austin Austin, TX — 7,821 48,925 — 37 7,821 48,962 56,783 (203 ) 56,580 2009 1 - 40 Silverado Austin, TX — 2,900 24,009 — 3,060 2,900 27,069 29,969 (9,956 ) 20,013 2003 1 - 40 Stassney Woods Austin, TX — 1,621 7,501 — 7,850 1,621 15,351 16,972 (8,978 ) 7,994 1985 1 - 40 Travis Station Austin, TX — 2,281 6,169 — 7,100 2,281 13,269 15,550 (8,010 ) 7,540 1987 1 - 40 Woods, The Austin, TX — 1,405 12,769 — 7,173 1,405 19,942 21,347 (8,465 ) 12,882 1977 1 - 40 Colonial Village at Shoal Creek Bedford, TX 18,662 4,982 27,377 — 2,402 4,982 29,779 34,761 (4,597 ) 30,164 1996 1 - 40 Colonial Village at Willow Creek Bedford, TX 22,425 3,109 33,488 — 4,927 3,109 38,415 41,524 (5,661 ) 35,863 1996 1 - 40 Colonial Grand at Hebron Carrollton, TX — 4,231 42,237 — 742 4,231 42,979 47,210 (5,655 ) 41,555 2011 1 - 40 Colonial Grand at Silverado Cedar Park, TX — 3,282 24,935 — 930 3,282 25,865 29,147 (3,709 ) 25,438 2005 1 - 40 Colonial Grand at Silverado Reserve Cedar Park, TX — 3,951 31,705 — 1,263 3,951 32,968 36,919 (4,624 ) 32,295 2005 1 - 40 Grand Cypress Cypress, TX 15,824 3,881 24,267 — 927 3,881 25,194 29,075 (2,642 ) 26,433 2008 1 - 40 Courtyards at Campbell Dallas, TX — 988 8,893 — 3,476 988 12,369 13,357 (7,562 ) 5,795 1986 1 - 40 Deer Run Dallas, TX — 1,252 11,271 — 4,383 1,252 15,654 16,906 (9,517 ) 7,389 1985 1 - 40 Grand Courtyard Dallas, TX — 2,730 22,240 — 2,628 2,730 24,868 27,598 (9,366 ) 18,232 2000 1 - 40 Legends at Lowe's Farm Dallas, TX — 5,016 41,091 — 1,881 5,016 42,972 47,988 (8,011 ) 39,977 2008 1 - 40 Colonial Reserve at Medical District Dallas, TX — 4,050 33,779 — 1,331 4,050 35,110 39,160 (4,402 ) 34,758 2007 1 - 40 Post Abbey Dallas, TX — 2,716 4,377 — 5 2,716 4,382 7,098 (15 ) 7,083 1996 1 - 40 Post Addison Circle Dallas, TX — 12,333 189,783 — 157 12,333 189,940 202,273 (617 ) 201,656 1998-2000 1 - 40 Post Cole's Corner Dallas, TX — 13,056 14,409 — 21 13,056 14,430 27,486 (55 ) 27,431 1998 1 - 40 Post Eastside Dallas, TX — 7,148 58,200 — 46 7,148 58,246 65,394 (179 ) 65,215 2008 1 - 40 Post Gallery Dallas, TX — 4,399 7,924 — 9 4,399 7,933 12,332 (34 ) 12,298 1999 1 - 40 Post Heights Dallas, TX — 26,297 37,993 — 42 26,297 38,035 64,332 (137 ) 64,195 1998-1999/2009 1 - 40 Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Post Katy Trail Dallas, TX — 10,353 32,521 — 33 10,353 32,554 42,907 (94 ) 42,813 2010 1 - 40 Post Legacy Dallas, TX — 6,588 55,385 — 38 6,588 55,423 62,011 (179 ) 61,832 2000 1 - 40 Post Meridian Dallas, TX — 8,798 13,680 — 20 8,798 13,700 22,498 (51 ) 22,447 1991 1 - 40 Post Sierra at Frisco Bridges Dallas, TX — 6,790 32,607 — 26 6,790 32,633 39,423 (138 ) 39,285 2009 1 - 40 Post Square Dallas, TX — 13,204 24,095 — 27 13,204 24,122 37,326 (74 ) 37,252 1996 1 - 40 Post Uptown Village Dallas, TX — 35,044 33,276 — 48 35,044 33,324 68,368 (115 ) 68,253 1995-2000 1 - 40 Post Vineyard Dallas, TX — 7,982 7,486 — 14 7,982 7,500 15,482 (24 ) 15,458 1996 1 - 40 Post Vintage Dallas, TX — 13,648 8,624 — 14 13,648 8,638 22,286 (31 ) 22,255 1993 1 - 40 Post Worthington Dallas, TX — 13,740 43,352 — 48 13,740 43,400 57,140 (139 ) 57,001 1993/2008 1 - 40 Watermark Dallas, TX — (2) 960 14,438 — 2,253 960 16,691 17,651 (7,161 ) 10,490 2002 1 - 40 Colonial Grand at Bear Creek Euless, TX 22,568 6,453 30,048 — 2,155 6,453 32,203 38,656 (5,161 ) 33,495 1998 1 - 40 Colonial Grand at Fairview Fairview, TX — 2,171 35,077 — 581 2,171 35,658 37,829 (4,648 ) 33,181 2012 1 - 40 La Valencia at Starwood Frisco, TX 20,510 3,240 26,069 — 1,214 3,240 27,283 30,523 (6,049 ) 24,474 2009 1 - 40 Colonial Reserve at Frisco Bridges Frisco, TX — 1,968 34,018 — 1,005 1,968 35,023 36,991 (4,489 ) 32,502 2013 1 - 40 Colonial Village at Grapevine Grapevine, TX — 2,351 29,757 — 3,989 2,351 33,746 36,097 (4,811 ) 31,286 1985/1986 1 - 40 Greenwood Forest Houston, TX — 3,465 23,482 — 72 3,465 23,554 27,019 (3,071 ) 23,948 1994 1 - 40 Legacy Pines Houston, TX — (2) 2,157 19,066 (15 ) 3,109 2,142 22,175 24,317 (10,323 ) 13,994 1999 1 - 40 Park Place (Houston) Houston, TX — 2,061 15,830 — 2,924 2,061 18,754 20,815 (6,667 ) 14,148 1996 1 - 40 Post Midtown Square Houston, TX — 19,076 89,736 — 92 19,076 89,828 108,904 (319 ) 108,585 1999/2013 1 - 40 Post 510 Houston, TX — 7,241 33,421 — 24 7,241 33,445 40,686 (157 ) 40,529 2014 1 - 40 Ranchstone Houston, TX — 1,480 14,807 — 2,206 1,480 17,013 18,493 (5,864 ) 12,629 1996 1 - 40 Reserve at Woodwind Lakes Houston, TX — 1,968 19,928 — 3,029 1,968 22,957 24,925 (8,399 ) 16,526 1999 1 - 40 Retreat at Vintage Park Houston, TX — 8,211 40,352 — 507 8,211 40,859 49,070 (2,197 ) 46,873 2014 1 - 40 Yale at 6th Houston, TX — 13,107 62,764 — 169 13,107 62,933 76,040 (599 ) 75,441 2015 1 - 40 Cascade at Fall Creek Humble, TX — 5,985 40,011 — 1,933 5,985 41,944 47,929 (13,492 ) 34,437 2007 1 - 40 Bella Casita Irving, TX — (2) 2,521 26,432 — 1,726 2,521 28,158 30,679 (5,978 ) 24,701 2007 1 - 40 Remington Hills Irving, TX — 4,390 21,822 — 7,408 4,390 29,230 33,620 (4,049 ) 29,571 1984 1 - 40 Colonial Reserve at Las Colinas Irving, TX — 3,902 40,691 — 1,225 3,902 41,916 45,818 (5,332 ) 40,486 2006 1 - 40 Colonial Grand at Valley Ranch Irving, TX 23,690 5,072 37,397 — 7,594 5,072 44,991 50,063 (6,544 ) 43,519 1997 1 - 40 Colonial Village at Oakbend Lewisville, TX — 5,598 28,616 — 2,845 5,598 31,461 37,059 (4,673 ) 32,386 1997 1 - 40 Times Square at Craig Ranch McKinney, TX — 1,130 28,058 — 3,382 1,130 31,440 32,570 (7,329 ) 25,241 2009 1 - 40 Life used to compute depreciation in latest income statement (4) Initial Cost Costs Capitalized subsequent to Acquisition Gross Amount carried at December 31, 2016 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Venue at Stonebridge Ranch McKinney, TX 14,152 4,034 19,528 — 503 4,034 20,031 24,065 (2,113 ) 21,952 2000 1 - 40 Cityscape at Market Center Plano, TX — 8,626 60,407 — 646 8,626 61,053 69,679 (4,101 ) 65,578 2013 1 - 40 Cityscape at Market Center II Plano, TX — 8,268 50,298 — 507 8,268 50,805 59,073 (1,412 ) 57,661 2015 1 - 40 Highwood Plano, TX — 864 7,783 — 3,035 864 10,818 11,682 (6,667 ) 5,015 1983 1 - 40 Los Rios Park Plano, TX — |
Activity for Real Estate Invest
Activity for Real Estate Investments and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2016 | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Summary and rollforward of real estate investments and accumulated depreciation | Mid-America Apartment Communities, Inc. Mid-America Apartments, L.P. Schedule III Real Estate Investments and Accumulated Depreciation A summary of activity for real estate investments and accumulated depreciation is as follows (dollars in thousands): Year Ended December 31, 2016 2015 2014 Real estate investments: Balance at beginning of year $ 8,215,768 $ 8,069,395 $ 7,722,181 Acquisitions (1) 4,961,140 316,151 407,889 Less: FMV of Leases included in Acquisitions (51,588 ) (4,438 ) (4,968 ) Improvement and development 202,614 165,000 186,043 Assets held for sale — — — Disposition of real estate assets (2) (355,764 ) (330,340 ) (241,750 ) Balance at end of year $ 12,972,170 $ 8,215,768 $ 8,069,395 Accumulated depreciation: Balance at beginning of year $ 1,499,213 $ 1,373,678 $ 1,138,315 Depreciation 314,076 289,177 276,991 Assets held for sale — — — Disposition of real estate assets (2) (138,488 ) (163,642 ) (41,628 ) Balance at end of year $ 1,674,801 $ 1,499,213 $ 1,373,678 MAA's consolidated balance sheet at December 31, 2016 , 2015 , and 2014 , includes accumulated depreciation of $18,730,000 , $16,845,000 , and $15,279,000 , respectively, in the caption "Corporate properties, net". (1) Includes non-cash activity related to acquisitions. (2) Includes assets sold, casualty losses, and removal of certain fully depreciated assets. |
Organization and Summary of S30
Organization and Summary of Significant Accounting Policies Organization and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared by our management in accordance with United States generally accepted accounting principles, or GAAP, and applicable rules and regulations of the Securities and Exchange Commission, or the SEC. The consolidated financial statements of MAA presented herein include the accounts of MAA, the Operating Partnership, and all other subsidiaries in which MAA has a controlling financial interest. MAA owns approximately 92.5% to 100% of all consolidated subsidiaries. The consolidated financial statements of MAALP presented herein include the accounts of MAALP and all other subsidiaries in which MAALP has a controlling financial interest. MAALP owns, directly or indirectly, 100% of all consolidated subsidiaries. In our opinion, all adjustments necessary for a fair presentation of the consolidated financial statements have been included, and all such adjustments were of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. We invest in entities which may qualify as variable interest entities, or VIE. A VIE is a legal entity in which the equity investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or, as a group, the holders of the equity investment at risk lack the power to direct the activities of a legal entity as well as the obligation to absorb its expected losses or the right to receive its expected residual returns. We consolidate all VIEs for which we are the primary beneficiary and use the equity method to account for investments that qualify as VIEs but for which we are not the primary beneficiary. In determining whether we are the primary beneficiary of a VIE, we consider qualitative and quantitative factors, including but not limited to, those activities that most significantly impact the VIE's economic performance and which party controls such activities. Effective January 1, 2016, we adopted ASU 2015-02, Consolidation: Topic 810, which resulted in the Operating Partnership now being classified as a VIE, since the limited partners of both entities lack substantive kick-out rights and substantive participating rights. The adoption of the new standard did not result in the consolidation of entities not previously consolidated or the de-consolidation of any entities previously consolidated. We are the primary beneficiary of, and continue to consolidate, both entities, and there was no material effect on our financial position or results of operations as a result of this adoption. See , "Recent Accounting Pronouncements", below, for further details on the adoption of this standard. We use the equity method of accounting for our investments in entities for which we exercise significant influence, but do not have the ability to exercise control. The factors considered in determining that we do not have the ability to exercise control include ownership of voting interests and participatory rights of investors. |
Use of Estimates | Use of Estimates Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses to prepare these financial statements and notes in conformity with GAAP. Actual results could differ from those estimates. |
Revenue Recognition and Real Estate Sales | Revenue Recognition and Real Estate Sales We primarily lease multifamily residential apartments under operating leases generally with terms of one year or less. Rental revenues are recognized using a method that represents a straight-line basis over the term of the lease and other revenues are recorded when earned. Rental income represents gross market rent less adjustments for concessions, vacancy loss and bad debt. We record gains and losses on real estate sales in accordance with accounting standards governing the sale of real estate. For sale transactions meeting the requirements for the full accrual method, we remove the assets and liabilities from our Consolidated Balance Sheets and record the gain or loss in the period the transaction closes. |
Rental Costs | Rental Costs Costs associated with rental activities, including advertising costs, are expensed as incurred. Advertising expenses were approximately $13.0 million , $13.5 million , and $12.4 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. |
Discontinued Operations | Discontinued Operations Prior to our January 2014 adoption of ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, properties sold during the year or those classified as held-for-sale at the end of a reporting period were classified as discontinued operations in accordance with accounting standards governing financial statement presentation. Subsequent to our adoption of this ASU on January 1, 2014, only dispositions representing significant changes in operating strategy are classified as discontinued operations. Once a property is classified as held-for-sale, depreciation is no longer recognized. |
Real Estate Assets and Depreciation and Amortization | Real Estate Assets and Depreciation and Amortization Real estate assets are carried at depreciated cost. Repairs and maintenance costs are expensed as incurred while significant improvements, renovations, and recurring capital replacements are capitalized. Recurring capital replacements typically include scheduled carpet replacement, new roofs, HVAC units, plumbing, concrete, masonry and other paving, pools and various exterior building improvements. In addition to these costs, we also capitalize salary costs directly identifiable with renovation work. These expenditures extend the useful life of the property and increase the property’s fair market value. The cost of interior painting, vinyl flooring and blinds are expensed as incurred. Depreciation is computed on a straight-line basis over the estimated useful lives of the related assets which range from 8 to 40 years for land improvements and buildings, 5 years for furniture, fixtures and equipment, and 3 to 5 years for computers and software. |
Development Costs | Development Costs Development projects and the related carrying costs, including interest, property taxes, insurance and allocated direct development salary cost during the construction period, are capitalized and reported in the accompanying Consolidated Balance Sheets as “Development and capital improvements in progress” during the construction period. Interest is capitalized in accordance with accounting standards governing the capitalization of interest. Upon completion and certification for occupancy of individual buildings within a development, amounts representing the completed building's portion of total estimated development costs for the project are transferred to "Land", "Buildings", and "Furniture, fixtures and equipment" as real estate held for investment. Capitalization of interest, property taxes, insurance and allocated direct development salary costs cease upon the transfer. The assets are depreciated over their estimated useful lives. Total interest capitalized during the years ended December 31, 2016 , 2015 and 2014 was approximately $2.1 million , $1.7 million , and $1.7 million , respectively. Indirect costs other than interest that we capitalized included capitalized salaries of $0.3 million , $0.4 million , and $1.7 million during the years ended December 31, 2016 , 2015 and 2014 , respectively, and real estate taxes of $0.3 million , $0.2 million , and $0.2 million during the years ended December 31, 2016 , 2015 and 2014 , respectively. Certain costs associated with the lease-up of development projects, including cost of model units, their furnishings, signs, and “grand openings,” are capitalized and amortized over their respective estimated useful lives. All other costs relating to renting development projects are expensed as incurred. |
Acquisition of Real Estate Assets | Acquisition of Real Estate Assets In accordance with accounting standards for business combinations, the fair value of the real estate acquired is allocated to the acquired tangible assets, consisting of land, building, furniture, fixtures and equipment, and identified intangible assets, consisting of the value of in-place leases and other contracts. We allocate the purchase price to the fair value of the tangible assets of an acquired property determined by valuing the building as if it were vacant, based on management’s determination of the relative fair values of these assets. Management determines the as-if-vacant fair value of a building using methods similar to those used by independent appraisers. These methods include using stabilized net operating income, or NOI, and market specific capitalization and discount rates. In allocating the fair value of identified intangible assets of an acquired property, the in-place leases are valued based on current rent rates and time and cost to lease a unit. Management concluded that the residential leases acquired in connection with each of its property acquisitions are approximately at market rates since the residential lease terms generally do not extend beyond one year. For larger, portfolio style acquisitions, like the Merger, management engages a third party valuation specialist to perform the fair value assessment, which includes an allocation of the purchase price. Similar to management's methods, the third party uses cash flow analysis as well as an income approach and a market approach to determine the fair value of assets. The third party uses stabilized NOI and market specific capitalization and discount rates. Management reviews the inputs used by the third party specialist as well as the allocation of the purchase price provided by the third party to ensure reasonableness and that the procedures are performed in accordance with management's policy. The initial allocation of the purchase price is based on management’s preliminary assessment, which may differ when final information becomes available. Subsequent adjustments made to the initial purchase price allocation, if any, are made within the allocation period, which typically does not exceed one year. For residential leases, the fair value of the in-place leases and resident relationships is then amortized over 6 months, the estimated remaining term of the resident leases. For commercial leases, the fair value of in-place leases and resident relationships is amortized over the remaining term of the commercial leases. The amount of these lease intangibles included in Other assets totaled $42.4 million , $6.1 million , and $8.3 million as of December 31, 2016 , 2015 , and 2014 , respectively. Accumulated amortization for these leases totaled $7.3 million , $2.3 million , and $1.8 million as of December 31, 2016 , 2015 and 2014 , respectively. The amortization recorded as depreciation and amortization expense was $8.7 million , $5.0 million , and $24.5 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. The estimated aggregate future amortization expense of in-place leases is approximately $28.7 million , $2.0 million , $1.6 million , $0.8 million , and $0.5 million for the years ended December 31, 2017, 2018, 2019, 2020, and 2021, respectively. Our policy is to expense the costs incurred to acquire properties in the period these costs are incurred. Acquisition costs include appraisal fees, title fees, broker fees, and other legal costs to acquire the property. These costs are recorded in our Consolidated Statement of Operations under the line "Acquisition expenses". |
Impairment of Long-lived Assets, including Goodwill | Impairment of Long-lived Assets, including Goodwill We account for long-lived assets in accordance with the provisions of accounting standards for the impairment or disposal of long-lived assets and evaluate our goodwill for impairment under accounting standards for goodwill and other intangible assets. We evaluate goodwill for impairment on at least an annual basis, or more frequently if a goodwill impairment indicator is identified. We periodically evaluate long-lived assets, including investments in real estate and goodwill, for indicators that would suggest that the carrying amount of the assets may not be recoverable. The judgments regarding the existence of such indicators are based on factors such as operating performance, market conditions and legal factors. Long-lived assets, such as real estate assets, equipment and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are separately presented on the Consolidated Balance Sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group or a property classified as held for sale are presented separately in the appropriate asset and liability sections of the balance sheet. Goodwill is tested annually for impairment and is tested for impairment more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss for goodwill is recognized to the extent that the carrying amount exceeds the implied fair value of goodwill. This determination is made at the reporting unit level and consists of two steps. First, we determine the fair value of a reporting unit and compare it to its carrying amount. In the apartment industry, the primary method used for determining fair value is to divide annual operating cash flows by an appropriate capitalization rate. We determine the appropriate capitalization rate by reviewing the prevailing rates in a property’s market or submarket. Second, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation in accordance with accounting standards for business combinations. The residual fair value after this allocation is the implied fair value of the reporting unit goodwill. There has been no impairment of goodwill in the three year period ended December 31, 2016 . |
Loss Contingencies | Loss Contingencies The outcomes of claims, disputes and legal proceedings are subject to significant uncertainty. We record an accrual for loss contingencies when a loss is probable and the amount of the loss can be reasonably estimated. We review these accruals quarterly and make revisions based on changes in facts and circumstances. When a loss contingency is not both probable and reasonably estimable, we do not accrue the loss. However, if the loss (or an additional loss in excess of the accrual) is at least a reasonable possibility and material, then we disclose a reasonable estimate of the possible loss, or range of loss, if such reasonable estimate can be made. If we cannot make a reasonable estimate of the possible loss, or range of loss, then a statement to that effect is disclosed. The assessment of whether a loss is probable or a reasonable possibility, and whether the loss or range of loss is reasonably estimable, often involves a series of complex judgments about future events. Among the factors that we consider in this assessment, are the nature of existing legal proceedings and claims, the asserted or possible damages or loss contingency (if reasonably estimable), the progress of the matter, existing law and precedent, the opinions or views of legal counsel and other advisers, our experience in similar matters, the facts available to us at the time of assessment, and how we intend to respond, or have responded, to the proceeding or claim. Our assessment of these factors may change over time as individual proceedings or claims progress. For matters where we are not currently able to reasonably estimate a range of reasonably possible loss, the factors that have contributed to this determination include the following: (i) the damages sought are indeterminate; (ii) the proceedings are in the early stages; (iii) the matters involve novel or unsettled legal theories or a large or uncertain number of actual or potential cases or parties; and/or (iv) discussions with the parties in matters that are expected ultimately to be resolved through negotiation and settlement have not reached the point where we believe a reasonable estimate of loss, or range of loss, can be made. In such instances, we believe that there is considerable uncertainty regarding the timing or ultimate resolution of such matters, including a possible eventual loss or business impact, if any. |
Undeveloped Land | Undeveloped Land Undeveloped land includes sites intended for future multifamily developments, sites for future commercial development and sites intended for residential use, which are carried at the lower of cost or fair value in accordance with GAAP and any costs incurred prior to commencement of pre-development activities are expensed as incurred. |
Investment in Real Estate Joint Ventures | Investment in Unconsolidated Real Estate Joint Ventures Immediately prior to the effective date of the Merger, Post Properties was an investor in a limited liability company, together with institutional investors that owned one apartment community located in Washington, D.C, or the Apartment LLC. Post Properties had a 35.0% equity interest in this unconsolidated joint venture, which MAA retained immediately following the effectiveness of the Merger and as of December 31, 2016. MAA provides property and asset management services to the Apartment LLC for which it earns fees. This joint venture was determined to be a variable interest entity, but we are not designated as a primary beneficiary. As a result, we account for our investment in the Apartment LLC using the equity method of accounting as we are able to exert significant influence, but do not have a controlling interest in this joint venture. At December 31, 2016 , our investment in the 35.0% owned Apartment LLC totaled $44.5 million . |
Cash and Cash Equivalents | Cash and Cash Equivalents We consider investments in money market accounts and certificates of deposit with original maturities of three months or less to be cash equivalents. |
Restricted Cash | Restricted Cash Restricted cash consists of security deposits required to be held separately, escrow deposits held by lenders for property taxes, insurance, debt service, and replacement reserves, and exchanges under Section 1031(b) of the Internal Revenue Code of 1986, as amended, or the Code. Section 1031(b) exchanges are treated as investing activities in the Consolidated Statement of Cash Flows. |
Deferred Financing Costs | Deferred Financing Costs Deferred financing costs are amortized over the terms of the related debt using a method which approximates the effective interest method. If the terms of renewed or modified debt instruments are deemed to be substantially different, all unamortized financing costs associated with the modified debt are charged to earnings in the current period. If the terms are not substantially different, the costs associated with the renewal are capitalized and amortized over the remaining term of the debt instrument. For modifications affecting a line of credit, fees paid to a creditor and any third party costs will be capitalized and amortized over the remaining term of the new arrangement. Any unamortized deferred financing costs associated with the old arrangement are either deferred and amortized over the life of the new arrangement or written off, depending upon the nature of the modification and cost. The balance of any unamortized financing costs on extinguished debt is expensed upon extinguishment. |
Other Assets | Other Assets Other assets consist primarily of deferred rental concessions which are recognized on a straight line basis over the life of the leases, receivables and deposits from residents, the value of derivative contracts and other prepaid expenses including prepaid insurance and prepaid interest. Also included in other assets are the fair market value of in place leases and resident relationships, net of accumulated amortization, which totaled $35.0 million and $3.8 million as of December 31, 2016 and 2015 , respectively. |
Accrued Expenses and Other Liabilities | Accrued Expenses and Other Liabilities Accrued expenses consist of accrued dividends payable, accrued real estate taxes, accrued interest payable, accrued loss contingencies, other accrued expenses payable, and unearned income. Significant accruals include accrued dividends payable of $102.4 million and $65.2 million at December 31, 2016 and 2015 , respectively, accrued real estate taxes of $97.6 million and $63.3 million at December 31, 2016 and 2015 , respectively, unearned income of $39.4 million and $25.4 million at December 31, 2016 and 2015 , respectively, accrued legal contingency loss of $42.1 million and $13.5 million at December 31, 2016 and 2015 , respectively, and accrued interest payable of $15.2 million and $17.2 million at December 31, 2016 and 2015 , respectively. |
Self Insurance | Self-Insurance We are self-insured for workers' compensation claims up to $500,000 and for general liability claims up to $100,000 for historical MAA properties and up to $200,000 for Post properties. We accrue for expected liabilities less than these amounts based on third party actuarial estimates of ultimate losses. |
Income Taxes | Income Taxes |
Fair value of derivative financial instruments | Fair value of derivative financial instruments We utilize certain derivative financial instruments, primarily interest rate swaps and interest rate caps, during the normal course of business to manage, or hedge, the interest rate risk associated with our variable rate debt or as hedges in anticipation of future debt transactions to manage well-defined interest rate risk associated with the transaction. In order for a derivative contract to be designated as a hedging instrument, changes in the hedging instrument must be highly effective at offsetting changes in the hedged item. The historical correlation of the hedging instruments and the underlying hedged items are assessed before entering into the hedging relationship and on a quarterly basis thereafter, and have been found to be highly effective. We measure ineffectiveness using the change in the variable cash flows method or the hypothetical derivative method for interest rate swaps and the hypothetical derivative method for interest rate caps for each reporting period through the term of the hedging instruments. Any amounts determined to be ineffective are recorded in earnings if in an overhedged position. The change in fair value of the interest rate swaps and the intrinsic value or fair value of interest rate caps designated as cash flow hedges are recorded to accumulated other comprehensive income in the Statement of Equity. Additionally, the 867,846 shares of Series I Preferred shares issued as consideration in the Merger are redeemable, at the Company's option, on October 1, 2026, and the redemption price per share, $50 , is the price at which the preferred stock is redeemable (see Note 10). This redemption feature embedded in the preferred stock was evaluated in accordance with ASC 815, Derivatives and Hedging, and the Company determined that it was required to bifurcate the value associated with this feature from its host instrument, the perpetual preferred shares, and account for it as a freestanding derivative on the balance sheet at fair value as a result of the call option. Thus, the redemption feature embedded in the Series I Preferred shares is reported as a derivative asset in Other assets on the accompanying consolidated balance sheet and will be adjusted to its fair value at each reporting date, with a corresponding adjustment to Other non-property expense. The valuation of our derivative interest rate swaps and caps are determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The fair values of interest rate caps are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the interest rate caps. The variable interest rates used in the calculation of projected receipts on the interest rate cap are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. Additionally, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. Changes in the fair values of our in our interest rate and cap derivatives are primarily the result of fluctuations in interest rates. The derivative asset related to the redemption feature embedded in the Series I Preferred shares issued in connection with the Merger are valued using widely accepted valuation techniques, included discounted cash flow analysis in which the perpetual value of the preferred shares are compared to the value with the call option giving the value of the bifurcated call option as the difference between the two values. This analysis reflects the contractual terms of the redeemable preferred shares, redeemable at the Company's option, on October 1, 2026, reflecting the redemption price per share, $50 , as the price at which the preferred stock is redeemable. The analysis uses observable market-based inputs, including discount rates based on the REIT preferred stock indices and adjusted based treasury rates to determine the present value of cash flows for the called value and the perpetual value in addition to trading data available on the preferred shares to interpolate an as called value and discount rate and again adjusted from there to determine the perpetual discount rate using the applicable treasury rates. See Note 7 (Derivative and Hedging Activities) and Note 8 (Fair Value Disclosure of Financial Information) for further discussion. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material effect on our financial statements: Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters Accounting Standards Update (ASU) 2015-02 , Consolidation (Topic 810) ASU 2015-02, affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting interest entities, (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidated analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships and (iv) provide a scope exception for certain entities. This ASU is effective for annual periods ending after December 15, 2015. We adopted this ASU effective January 1, 2016. We adopted this ASU effective January 1, 2016, and there was no material effect on our consolidated financial position or results of operations taken as a whole. While adoption of the new standard did not result in the consolidation of entities not previously consolidated or the de-consolidation of any entities previously consolidated, the Operating Partnership is now classified as a VIE as the limited partners lack substantive kick-out rights and substantive participating rights. Thus, the Company is the primary beneficiary of, and continues to consolidate MAALP. ASU 2015-16 , Simplifying the Accounting for Measurement -Period Adjustments This ASU was issued to simplify the accounting for business combinations, specifically as it relates to measurement-period adjustments. Acquiring entities in a business combination must recognize measurement-period adjustments in the reporting period in which the adjustment amounts are determined. Also, ASU 2015-16 requires entities to present separately on the face of the income statement (or disclose in the notes to the financial statements) the portion of the amount recorded in the current period earnings, by line item, that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. This ASU is effective for annual periods ending after December 15, 2015. We adopted this ASU effective January 1, 2016. Adoption of this ASU did not have a significant impact on our consolidated financial statements; however, as noted in Note 2, Business Combinations, we will continue to monitor these adjustments related to the Post Merger as the measurement period remains open for twelve months following the 12/1/16 Merger date. ASU 2014-16 - Derivatives and Hedging (Topic 815), Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity This ASU clarifies how U.S. GAAP should be applied in determining whether the nature of a host contract in a hybrid financial instrument that is issued in the form of a share is more akin to debt or equity and in evaluating whether the economic characteristics and risks of an embedded feature are "clearly and closely related" to its host contract. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after 15 December 2015. We adopted this ASU effective January 1, 2016. Upon initial adoption on January 1, 2016, this ASU did not have an impact on our consolidated financial statements and disclosures. However, as a result of the issuance of the MAA Series I preferred stock resulting from the merger on December 1, 2016, we identified a redemption feature embedded in this preferred stock and determined that we were required to bifurcate the value associated with this feature from its host instrument, the preferred shares, and account for it as a freestanding derivative on the balance sheet at fair value as a result of the call option in accordance with this guidance in ASC 815. (See Note 7 and 8 for details and referenced impact to our consolidated financial statements and disclosures). ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern This ASU requires an entity's management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. If substantial doubt exists, the entity must disclose the principal conditions or events that raised the substantial doubt, management's evaluation of the significance of these conditions, and management's plan for alleviating the substantial doubt about the entity's ability to continue as a going concern. This ASU is effective for annual periods ending after December 15, 2016. We adopted this guidance on December 31, 2016. We adopted this guidance on December 31, 2016, and the adoption of this guidance did not have an impact to the consolidated financial statements or material impact on our disclosures. ASU 2014-09, Revenue from Contracts with Customers This ASU establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services as outlined in a five-step model whereby revenue is recognized as performance obligations within a contract are satisfied. Income from lease contracts is specifically excluded from this ASU. This ASU is effective for annual reporting periods beginning after December 15, 2017, as a result of a deferral of the effective date arising from the issuance of ASU 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date. Early adoption is permitted. The amendments may be applied using the full retrospective transition method resulting in adjustments to each prior period presented as of the date of initial application or by using the modified retrospective transition method with a cumulative effect recognized as of the date of initial application. We currently expect to adopt ASU 2014-09 effective January 1, 2018, using the modified retrospective approach. We have identified our revenue streams and are in the process of evaluating the impact on our consolidated financial statements and internal accounting processes; however, the majority of our revenue is derived from real estate lease contracts. ASU 2016-02, Leases This ASU amends existing accounting standards for lease accounting and establishes the principles for lease accounting for both the lessee and lessor. The amendment requires an entity to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The amendment also requires certain quantitative and qualitative disclosures about leasing arrangements. This ASU is effective for annual reporting periods beginning after December 15, 2018; however, early adoption is permitted. The standard must be adopted using a modified retrospective transition and provides for certain practical expedients. Transition will require application of the new guidance at the beginning of the earliest comparative period presented. We are currently evaluating the impact this standard may have on our consolidated financial statements and related disclosures upon adoption. ASU 2016-09, Improvements to Employee Share-Based Payment Accounting This ASU amends existing accounting standards for certain aspects of share-based payments to employees. The new guidance will require all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. It also will allow an employer to repurchase more of an employee’s shares than it can today for tax withholding purposes without triggering liability accounting and to make a policy election to account for forfeitures as they occur. This ASU is effective for annual reporting periods beginning after December 15, 2016; however, early adoption is permitted. The standard must be adopted using a modified retrospective transition method, with a cumulative-effect adjustment to retained earnings. We are currently evaluating the impact this standard may have on our consolidated financial statements and related disclosures upon adoption. ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) This ASU clarifies how several specific cash receipts and cash payments are to be presented and classified on the statement of cash flows, including debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration made after a business combination, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of predominance principle. This ASU is effective for interim and annual periods beginning after December 15, 2017, and early adoption is permitted. Each amendment in this standard must be applied prospectively, retrospectively, or as of the beginning of the earliest comparative period presented in the year of adoption, depending on the type of amendment. We expect to adopt ASU 2016-15 as of January 1, 2018, and we are currently evaluating the impact this standard may have on our consolidated financial statements upon adoption. ASU 2016-18, Statement of Cash Flows (Topic 230):Restricted Cash (A Consensus of the FASB Emerging Issues Task Force) This ASU requires restricted cash to be presented with cash and cash equivalents when reconciling the beginning and ending amounts in the statements of cash flows. This ASU is effective for interim and annual periods beginning after December 15, 2017, and early adoption is permitted. The update should be applied retrospectively to each period presented. We expect to adopt ASU 2016-15 as of January 1, 2018. We currently report the change in restricted cash within the investing activities in our consolidated statement of cash flows. If we were to early adopt in 2017, cash and cash equivalents reported in our consolidated statements of cash flows would increase by approximately $88.3 million and $26.1 million in 2016 and 2015, respectively, to reflect the restricted cash balances. Additionally, net cash used in investing activities would increase by $58.3 million in 2016 and decrease by $8 thousand in 2015. ASU 2017-01, Clarifying the Definition of a Business (Topic 805) This ASU clarifies the definition of a business and provides further guidance for evaluating whether a transaction will be accounted for as an acquisition of an asset or a business. This ASU is effective for interim and annual periods beginning after December 15, 2017, and early adoption is permitted. The update should be applied prospectively. We adopted ASU 2017-01 as of January 1, 2017 and the adoption did not require any additional disclosures. We believe most of our future acquisitions of operating properties will qualify as asset acquisitions and most future transaction costs associated with these acquisitions will be capitalized. |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Purchase Price Allocation Schedule | Land $ 875,737 Buildings and improvements 3,401,983 Furniture, fixtures and equipment 81,389 Development and capital improvements in progress 184,044 Undeveloped land 24,200 Commercial properties, net 3,610 Investment in real estate joint venture 44,435 Lease intangible assets 53,192 Cash and cash equivalents 34,292 Restricted cash 3,608 Deferred costs and other assets, excluding lease intangible assets 40,473 Total assets acquired 4,746,963 Notes payable (595,609) Fair market value of interest rate swaps (2,118) Lease intangible liabilities (1,661) Accounts payable, accrued expenses, and other liabilities (138,683) Total liabilities assumed, including debt (738,071 ) Noncontrolling interests - consolidated real estate entity (2,306 ) Total purchase price $ 4,006,586 |
Earnings Per Common Share of 32
Earnings Per Common Share of MAA (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings per share of the trust [Abstract] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | Basic earnings per share is computed by dividing net income available to MAA common shareholders by the weighted average number of shares outstanding during the period. All outstanding unvested restricted share awards contain rights to non-forfeitable dividends and participate in undistributed earnings with common shareholders and, accordingly, are considered participating securities that are included in the two-class method of computing basic earnings per share. Both the unvested restricted shares and other potentially dilutive common shares, and the related impact to earnings, are considered when calculating earnings per share on a diluted basis with our diluted earnings per share being the more dilutive of the treasury stock or two-class methods. Operating partnership units are included in dilutive earnings per share calculations when they are dilutive to earnings per share. For the years ended December 31, 2016 , 2015 , and 2014 , MAA's basic earnings per share is computed using the two-class method, and our diluted earnings per share is computed using the more dilutive of the treasury stock method or two-class method: (dollars and shares in thousands, except per share amounts) Years ended December 31, 2016 2015 2014 Shares Outstanding Weighted average common shares - basic 78,502 75,176 74,982 Weighted average partnership units outstanding — (1) — (1) — (1) Effect of dilutive securities 298 — (2) — (2) Weighted average common shares - diluted 78,800 75,176 74,982 Calculation of Earnings per Share - basic Income from continuing operations $ 224,402 $ 350,745 $ 150,946 Income from continuing operations attributable to noncontrolling interests (12,180 ) (18,458 ) (8,013 ) Income from continuing operations allocated to unvested restricted shares (572 ) (772 ) (278 ) Preferred dividends (307 ) — — Income from continuing operations available for common shareholders, adjusted $ 211,343 $ 331,515 $ 142,655 Income from discontinued operations $ — $ — $ 5,331 Income from discontinued operations attributable to noncontrolling interest — — (284 ) Income from discontinued operations allocated to unvested restricted shares — — (10 ) Income from discontinued operations available for common shareholders, adjusted $ — $ — $ 5,037 Weighted average common shares - basic 78,502 75,176 74,982 Earnings per share - basic $ 2.69 $ 4.41 $ 1.97 Calculation of Earnings per Share - diluted Income from continuing operations $ 224,402 $ 350,745 $ 150,946 Income from continuing operations attributable to noncontrolling interests (12,180 ) (1) (18,458 ) (1) (8,013 ) (1) Income from continuing operations allocated to unvested restricted shares — (772 ) (2) (278 ) (2) Preferred dividends (307 ) — — Income from continuing operations available for common shareholders, adjusted $ 211,915 $ 331,515 $ 142,655 Income from discontinued operations $ — $ — $ 5,331 Income from discontinued operations attributable to noncontrolling interest — — (284 ) (1) Income from discontinued operations allocated to unvested restricted shares — — (10 ) (2) Income from discontinued operations available for common shareholders, adjusted $ — $ — $ 5,037 Weighted average common shares - diluted 78,800 75,176 74,982 Earnings per share - diluted $ 2.69 $ 4.41 $ 1.97 (1) For the years ended December 31, 2016, 2015, and 2014, 4.2 million OP units and their related income are not included in the diluted earnings per share calculations as they are not dilutive. (2) For both the years ended December 31, 2015 and 2014, 0.1 million potentially dilutive securities and their related income are not included in the diluted earnings per share calculation as they are not dilutive. |
Earnings Per OP Unit of MAALP (
Earnings Per OP Unit of MAALP (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Unit [Abstract] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Unit [Table Text Block] | A reconciliation of the numerators and denominators of the basic and diluted earnings per OP unit computations for the years ended December 31, 2016 , 2015 , and 2014 is presented below: (dollars and units in thousands, except per unit amounts) Years ended December 31, 2016 2015 2014 Units Outstanding Weighted average common units - basic 82,661 79,361 79,188 Effect of dilutive securities 298 — (1) — (1) Weighted average common units - diluted 82,959 79,361 79,188 Calculation of Earnings per Unit - basic Income from continuing operations $ 224,402 $ 350,745 $ 150,946 Income from continuing operations allocated to unvested restricted shares (574 ) (772 ) (278 ) Preferred unit distributions (307 ) — — Income from continuing operations available for common unitholders, adjusted $ 223,521 $ 349,973 $ 150,668 Income from discontinued operations $ — $ — $ 5,331 Income from discontinued operations allocated to unvested restricted shares — — (10 ) Income from discontinued operations available for common unitholders, adjusted $ — $ — $ 5,321 Weighted average common units - basic 82,661 79,361 79,188 Earnings per unit - basic: $ 2.70 $ 4.41 $ 1.97 Calculation of Earnings per Unit - diluted Income from continuing operations $ 224,402 $ 350,745 $ 150,946 Income from continuing operations allocated to unvested restricted shares — (772 ) (1) (278 ) (1) Preferred unit distributions (307 ) — — Income from continuing operations available for common unitholders, adjusted $ 224,095 $ 349,973 $ 150,668 Income from discontinued operations $ — $ — $ 5,331 Income from discontinued operations allocated to unvested restricted shares — — (10 ) (1) Income from discontinued operations available for common unitholders, adjusted $ — $ — $ 5,321 Weighted average common units - diluted 82,959 79,361 79,188 Earnings per unit - diluted: $ 2.70 $ 4.41 $ 1.97 (1) For both the years ended December 31, 2015 and 2014, 0.1 million potentially dilutive securities and their related income are not included in the diluted earnings per unit calculations as they are not dilutive. |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Stock Based Compensation [Abstract] | |
Schedule of Share-based Payment Award, Restricted Stock, Valuation Assumptions [Table Text Block] | The following is a summary of the key assumptions used in the valuation calculations for market based awards granted during the years ended December 31, 2016 , 2015 , and 2014 : 2016 2015 2014 Risk free rate - minimum 0.49% 0.10% 0.02% Risk free rate - maximum 1.27% 1.05% 0.80% Dividend yield 3.634% 3.932% 4.755% Volatility - minimum 18.41% 15.41% 18.31% Volatility - maximum 19.45% 16.04% 20.48% Service period 3 years 3 years 3 years |
Nonvested Restricted Stock Shares Activity [Table Text Block] | A summary of the status of the nonvested restricted shares as of December 31, 2016 , and the changes for the year ended December 31, 2016 , is presented below: Nonvested Shares Shares Weighted Average Grant-Date Fair Value Nonvested at January 1, 2016 187,941 $ 63.36 Issued 119,039 79.51 Vested (80,342 ) 64.00 Forfeited (1,014 ) 71.84 Nonvested at December 31, 2016 225,624 $ 71.61 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The following is a summary of the key assumptions used in the Monte Carlo valuation calculations for stock options granted during the year ended December 31, 2016 : 2016 Term - minimum 1.11 years Term - maximum 2.11 years Risk free rate - minimum 0.64% Risk free rate - maximum 2.63% Dividend yield 3.81% Volatility - minimum 21.02% Volatility - maximum 21.57% |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | A summary of the status of the stock options as of December 31, 2016 and the changes for the year ended December 31, 2016 is presented below: Stock Options Options Weighted Average Exercise Price Outstanding at January 1, 2016 58,112 $ 86.21 Granted 108,198 75.58 Exercised — — Expired (19,028 ) 103.56 Outstanding at December 31, 2016 147,282 $ 76.16 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Borrowings [Abstract] | |
Indebtedness | The following table summarizes our indebtedness at December 31, 2016 , (dollars in thousands): Borrowed Balance Effective Rate Contract Maturity Fixed Rate Secured Debt Individual property mortgages $ 1,128,284 3.9 % 8/11/2019 Total fixed rate secured debt 1,128,284 3.9 % 8/11/2019 Variable Rate Secured Debt (1) Fannie Mae conventional credit facilities 160,000 1.1 % 6/1/2018 Total variable rate secured debt 160,000 1.1 % 6/1/2018 Fair market value adjustments and debt issuance costs 30,804 Total Secured Debt $ 1,319,088 3.5 % 6/16/2019 Unsecured Debt Variable rate credit facility 490,000 1.6 % 4/15/2020 Term loan fixed with swaps 850,000 3.1 % 11/10/2017 Fixed rate bonds 1,860,000 4.1 % 5/29/2023 Fair market value adjustments, debt issuance costs and discounts (19,376 ) Total Unsecured Debt $ 3,180,624 3.4 % 6/7/2021 Total Outstanding Debt $ 4,499,712 3.5 % 11/8/2020 (1) Includes capped balances |
Interest Rate Ranges, Maturity and Balance of Indebtedness | The following table summarizes interest rate ranges, maturity and balance of our indebtedness, net of fair market value adjustments, debt issuance costs and discounts, at December 31, 2016 and the balance of our indebtedness, net of fair market value adjustments, debt issuance costs and discounts, at December 31, 2015 (dollars in millions): At December 31, 2016 Actual Interest Rates Current Average Interest Rate Maturity Balance Balance at Fixed Rate: Secured 3.00 - 5.49% 3.92% 2017-2025 $ 1,128.3 $ 1,062.9 Unsecured 3.15 - 5.57% 4.06% 2017-2025 1,860.0 1,535.2 Interest rate swaps 2.63 - 6.63% 2.80% 2017-2018 850.0 550.0 $ 3,838.3 $ 3,148.1 Variable Rate: (1) Secured 1.08% 1.08% 2017 110.0 65.0 Secured interest rate caps 1.08% 1.08% 2017 50.0 125.0 Unsecured 1.65% 1.65% 2020 490.0 75.0 $ 650.0 $ 265.0 Fair market value adjustments, debt issuance costs and discounts $ 11.4 $ 14.5 $ 4,499.7 $ 3,427.6 (1) Amounts are adjusted to reflect interest rate swap and cap agreements in effect at December 31, 2016 , and 2015 , respectively, which results in us paying fixed interest payments over the terms of the interest rate swaps and on changes in interest rates above the strike rate of the cap. Rates and maturities for capped balances are for the underlying debt, unless the strike rate has been reached. |
Scheduled Principal Repayments on Borrowings | The following table includes scheduled principal repayments on the borrowings at December 31, 2016 , as well as the amortization of the fair market value of debt assumed along with debt discounts and issuance costs (dollars in thousands): Year Amortization Maturities Total 2017 $ 26,110 $ 277,525 $ 303,635 2018 21,525 465,429 486,954 2019 6,778 719,142 725,920 2020 2,768 792,456 795,224 2021 (677 ) 340,618 339,941 Thereafter (1,350 ) 1,849,388 1,848,038 $ 55,154 $ 4,444,558 $ 4,499,712 |
Derivatives and Hedging Activ36
Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative | |
Outstanding Interest Rate Derivatives | As of December 31, 2016 , we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: Interest Rate Derivative Number of Instruments Notional Interest Rate Caps 2 $50,000,000 Interest Rate Swaps 15 $850,000,000 |
Effect of Derivative Instruments on Consolidated Statement of Operations | The tables below present the effect of our derivative financial instruments on the Consolidated Statement of Operations for the years ended December 31, 2016 , 2015 and 2014 , respectively (dollars in thousands): Derivatives in Cash Flow Hedging Relationships Amount of Loss Recognized in OCI on Derivative (Effective Portion) Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Location of Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Years ended December 31, 2016 2015 2014 2016 2015 2014 2016 2015 2014 Interest rate contracts $ (1,500 ) $ (8,306 ) $ (12,335 ) Interest expense $ (4,364 ) $ (7,064 ) $ (11,785 ) Interest expense $ (54 ) $ (100 ) $ (157 ) Total derivatives in cash flow hedging relationships $ (1,500 ) $ (8,306 ) $ (12,335 ) $ (4,364 ) $ (7,064 ) $ (11,785 ) $ (54 ) $ (100 ) $ (157 ) Derivatives Not Designated as Hedging Instruments Location of Loss Recognized in Income on Derivative Amount of Loss Recognized in Income on Derivative For the year ended December 31, 2016 2015 2014 Interest rate products Interest expense $ — $ (3 ) $ (146 ) Total $ — $ (3 ) $ (146 ) |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income | The chart below shows the change in the balance for the years ended December 31, 2016 , 2015 , and 2014 : Changes in Accumulated Other Comprehensive Income (Loss) by Component Affected Line Item in the Consolidated Statements Of Operations Gains and Losses on Cash Flow Hedges For the year ended December 31, 2016 2015 2014 Beginning balance $ (1,589 ) $ (412 ) $ 108 Other comprehensive loss before reclassifications (1,500 ) (8,306 ) (12,335 ) Amounts reclassified from accumulated other comprehensive income (interest rate contracts) Interest expense 4,364 7,064 11,785 Net current-period other comprehensive (income) loss attributable to noncontrolling interest (131 ) 65 30 Net current-period other comprehensive income (loss) attributable to MAA 2,733 (1,177 ) (520 ) Ending balance $ 1,144 $ (1,589 ) $ (412 ) |
Fair Value Disclosure of Fina37
Fair Value Disclosure of Financial Instruments (Tables) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Notes To Financial Statements [Abstract] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | The table below presents our assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and December 31, 2015 , aggregated by the level in the fair value hierarchy within which those measurements fall. Assets and Liabilities Measured at Fair Value on a Recurring Basis at December 31, 2016 (dollars in thousands) Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance at December 31, 2016 Assets Interest rate derivative contracts $ — $ 2,364 $ — $ 2,364 Preferred Stock embedded derivative — 10,783 — 10,783 Total $ — $ 13,147 $ — $ 13,147 Liabilities Interest rate derivative contracts $ — $ 7,562 $ — $ 7,562 | Assets and Liabilities Measured at Fair Value on a Recurring Basis at December 31, 2015 (dollars in thousands) Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance at December 31, 2015 Assets Interest rate derivative contracts $ — $ 6 $ — $ 6 Liabilities Interest rate derivative contracts $ — $ 10,358 $ — $ 10,358 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Taxes [Abstract] | |
Taxability Of Cash Distributions Table [Text Block] | For income tax purposes, dividends paid to holders of common stock primarily consist of ordinary income, return of capital, capital gains, qualified dividends and un-recaptured Section 1250 gains, or a combination thereof. For the years ended December 31, 2016, 2015 and 2014, dividends per share held for the entire year were estimated to be taxable as follows: 2016 2015 2014 Amount Percentage Amount Percentage Amount Percentage Ordinary income $ 3.28 100 % $ 3.07 99.7 % $ 2.76 94.41 % Return of capital — — % — — % 0.16 5.59 % Un-recaptured Section 1250 gain — — % 0.01 0.3 % — — % $ 3.28 100.00 % $ 3.08 100.00 % $ 2.92 100.00 % |
Summary of Valuation Allowance [Table Text Block] | For the years ended December 31, 2016 and 2015, the components of MAA's deferred income tax assets and liabilities were as follows (dollars in thousands): December 31, 2016 December 31, 2015 Deferred tax assets: Real estate asset basis differences $ 13,387 $ 25,627 Deferred revenue — 22 Deferred expenses 12,481 14,106 Net operating loss carryforward 32,585 28,493 Accrued liabilities 102 3,951 $ 58,555 $ 72,199 Deferred tax liabilities: Real estate asset basis differences $ (311 ) $ (145 ) $ (311 ) $ (145 ) Net deferred tax assets, before valuation allowance $ 58,244 $ 72,054 Valuation allowance (58,244 ) (72,054 ) Net deferred tax assets, included in other assets $ — $ — |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the years ended December 31, 2016, 2015 and 2014, the reconciliation of income tax attributable to continuing operations for the TRSs computed at the U.S. statutory rate to the income tax provision was as follows (dollars in thousands): 2016 2015 2014 Tax expense at U.S. statutory rates on TRS income subject to tax $ 3,185 $ 2,506 $ 1,802 Effect of permanent differences and other — (730 ) (1,110 ) Decrease in valuation allowance (3,185 ) (1,776 ) (692 ) TRS income tax provision $ — $ — $ — |
Earnings from Discontinued Op39
Earnings from Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following chart shows our disposition activity for the year ended December 31, 2016 : Community Market Units/Sq. Ft./Acres Date Sold McKinney (1) Dallas, Texas 30 acres February 5, 2016 Colonial Promenade Nord du Lac Covington, Louisiana 295,447 sq. ft. March 28, 2016 Colonial Promenade Nord du Lac - Outparcels Covington, Louisiana 25 acres March 28, 2016 Colonial Grand at Heathrow - Adjacent Land Parcels Orlando, Florida 11 acres April 7, 2016 Land Title Building (2) Birmingham, Alabama 29,971 sq. ft. May 23, 2016 Colonial Promenade Huntsville - Outparcel Huntsville, Alabama 1 acre June 29, 2016 CG at Autumn Park Greensboro, North Carolina 402 August 18, 2016 Corners at Crystal Lake Winston-Salem, North Carolina 240 August 18, 2016 CV at Glen Eagles Winston-Salem, North Carolina 310 August 18, 2016 CV at Mill Creek Winston-Salem, North Carolina 220 August 18, 2016 Abbington Place Huntsville, Alabama 152 September 13, 2016 CV at Stone Point Charlotte, North Carolina 192 September 13, 2016 CV at Greystone Charlotte, North Carolina 408 September 13, 2016 CV at Woodlake Raleigh/Durham, North Carolina 266 November 17, 2016 CV at Tradewinds Norfolk/Hampton/Virginia Beach, Virginia 284 November 17, 2016 CV Harbour Club Norfolk/Hampton/Virginia Beach, Virginia 213 November 17, 2016 CV Main Park Dallas, Texas 192 November 17, 2016 Lane at Towne Crossing Dallas, Texas 384 November 17, 2016 |
Parent Company [Member] | |
Schedule of Income from Continuing and Discontinued Operations Attributable to MAA and Noncontrolling Interest [Table Text Block] | The following is a summary of income from continuing and discontinued operations attributable to MAA and noncontrolling interest for the years ended December 31, 2016 , 2015 and 2014 (dollars in thousands): 2016 2015 2014 Income from continuing operations: Net Income available for shareholders $ 212,222 $ 332,287 $ 142,933 Attributable to noncontrolling interest 12,180 18,458 8,013 Income from continuing operations $ 224,402 $ 350,745 $ 150,946 Income from discontinued operations: Attributable to MAA $ — $ — $ 5,047 Attributable to noncontrolling interest — — 284 Income from discontinued operations $ — $ — $ 5,331 |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following is a summary of earnings from discontinued operations for MAA and MAALP for the year ended December 31, 2014 (dollars in thousands): 2014 Revenues: Rental revenues $ 75 Other revenues 10 Total revenues 85 Expenses: Property operating expenses 74 Depreciation and amortization 42 Interest expense 32 Total expenses 148 Income from discontinued operations before gain on sale (63 ) Gain on sale of discontinued operations 5,394 Income from discontinued operations $ 5,331 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes To Financial Statements [Abstract] | |
Revenues and NOI for each reportable segment | Revenues and NOI for each reportable segment for the years ended December 31, 2016 , 2015 and 2014 were as follows (dollars in thousands): 2016 2015 2014 (1) Revenues: Large Market Same Store $ 642,679 $ 612,934 $ 553,038 Secondary Market Same Store 337,883 327,700 310,281 Non-Same Store and Other 144,786 102,145 128,859 Total property revenues 1,125,348 1,042,779 992,178 Management fee income — — 154 Total operating revenues $ 1,125,348 $ 1,042,779 $ 992,332 NOI: Large Market Same Store $ 399,287 $ 377,025 $ 334,255 Secondary Market Same Store 212,053 204,382 190,348 Non-Same Store and Other 90,652 60,727 74,211 Total NOI 701,992 642,134 598,814 Discontinued operations NOI included above — — 16 Management fee income — — 154 Depreciation and amortization (322,958 ) (294,520 ) (301,812 ) Acquisition expenses (2,928 ) (2,777 ) (2,388 ) Property management expenses (34,093 ) (30,990 ) (32,095 ) General and administrative expenses (29,040 ) (25,716 ) (20,909 ) Merger related expenses (39,033 ) — (3,152 ) Integration related costs (1,790 ) — (8,395 ) Interest and other non-property income (expense) 724 (368 ) 770 Interest expense (129,947 ) (122,344 ) (123,953 ) Loss on debt extinguishment/modification (83 ) (3,602 ) (2,586 ) Net casualty gain (loss) after insurance and other settlement proceeds 448 473 (476 ) Gain on sale of depreciable real estate assets 80,397 189,958 42,649 Income tax expense (1,699 ) (1,673 ) (2,050 ) Gain on sale of non-depreciable real estate assets 2,171 172 350 Gain (loss) from real estate joint ventures 241 (2 ) 6,009 Discontinued operations — — 5,331 Net income attributable to noncontrolling interests (12,180 ) (18,458 ) (8,297 ) Preferred dividends (307 ) — — Net income available for MAA common shareholders $ 211,915 $ 332,287 $ 147,980 (1) The 2014 column shows the segment break down based on the 2015 same store portfolios. A comparison using the 2016 same store portfolio would not be comparative due to the nature of the segment classifications. |
Assets for each reportable segment | Assets for each reportable segment as of December 31, 2016 and 2015 were as follows (dollars in thousands): December 31, 2016 December 31, 2015 Assets Large Market Same Store $ 3,945,122 $ 4,062,595 Secondary Market Same Store 1,707,495 1,756,313 Non-Same Store and Other 5,722,231 956,336 Corporate assets 229,643 72,537 Total assets $ 11,604,491 $ 6,847,781 |
Real Estate Acquisitions and 41
Real Estate Acquisitions and Dispositions Real Estate Acquisitions and Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Real Estate Acquisitions and Dispositions [Abstract] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following chart shows our acquisition activity, excluding properties acquired through the Merger, for the year ended December 31, 2016 : Community Market Units/Acres Date Acquired The Apartments at Cobblestone Square Fredericksburg, Virginia 314 March 1, 2016 Residences at Fountainhead Phoenix, Arizona 322 June 30, 2016 Yale at 6th Houston, Texas 352 September 8, 2016 Innovation Apartment Homes Greenville, South Carolina 336 September 22, 2016 1201 Midtown Charleston, South Carolina 302 December 15, 2016 |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following chart shows our disposition activity for the year ended December 31, 2016 : Community Market Units/Sq. Ft./Acres Date Sold McKinney (1) Dallas, Texas 30 acres February 5, 2016 Colonial Promenade Nord du Lac Covington, Louisiana 295,447 sq. ft. March 28, 2016 Colonial Promenade Nord du Lac - Outparcels Covington, Louisiana 25 acres March 28, 2016 Colonial Grand at Heathrow - Adjacent Land Parcels Orlando, Florida 11 acres April 7, 2016 Land Title Building (2) Birmingham, Alabama 29,971 sq. ft. May 23, 2016 Colonial Promenade Huntsville - Outparcel Huntsville, Alabama 1 acre June 29, 2016 CG at Autumn Park Greensboro, North Carolina 402 August 18, 2016 Corners at Crystal Lake Winston-Salem, North Carolina 240 August 18, 2016 CV at Glen Eagles Winston-Salem, North Carolina 310 August 18, 2016 CV at Mill Creek Winston-Salem, North Carolina 220 August 18, 2016 Abbington Place Huntsville, Alabama 152 September 13, 2016 CV at Stone Point Charlotte, North Carolina 192 September 13, 2016 CV at Greystone Charlotte, North Carolina 408 September 13, 2016 CV at Woodlake Raleigh/Durham, North Carolina 266 November 17, 2016 CV at Tradewinds Norfolk/Hampton/Virginia Beach, Virginia 284 November 17, 2016 CV Harbour Club Norfolk/Hampton/Virginia Beach, Virginia 213 November 17, 2016 CV Main Park Dallas, Texas 192 November 17, 2016 Lane at Towne Crossing Dallas, Texas 384 November 17, 2016 |
Selected Quarterly Financial 42
Selected Quarterly Financial Information (Tables) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Limited Partner [Member] | ||
Schedule of Quarterly Financial Information [Table Text Block] | (Dollars in thousands except per unit data) Year Ended December 31, 2016 First Second Third Fourth Total operating revenues $ 269,016 $ 272,236 $ 276,898 $ 307,198 Income from continuing operations before non-operating items $ 76,709 $ 77,794 $ 73,790 $ 43,857 Interest expense $ (32,211 ) $ (32,039 ) $ (32,168 ) $ (33,529 ) Gain (loss) from real estate joint ventures $ 128 $ (101 ) $ — $ 214 Net Income $ 45,808 $ 47,630 $ 88,906 $ 42,058 Dividends to preferred unitholders $ — $ — $ — $ 307 Net income available for common unitholders $ 45,808 $ 47,630 $ 88,906 $ 41,751 Per unit: Net income available per common unit - basic $ 0.61 $ 0.60 $ 1.12 $ 0.45 Net income available per common unit - diluted $ 0.61 $ 0.60 $ 1.12 $ 0.45 Distribution paid $ 0.82 $ 0.82 $ 0.82 $ 0.82 | Year Ended December 31, 2015 First Second Third Fourth Total operating revenues $ 258,552 $ 258,891 $ 261,998 $ 263,337 Income from continuing operations before non-operating items $ 69,393 $ 68,837 $ 73,138 $ 76,763 Interest expense $ (30,848 ) $ (30,433 ) $ (30,229 ) $ (30,834 ) Gain (loss) from real estate joint ventures $ 19 $ (23 ) $ (1 ) $ 3 Net income $ 64,677 $ 143,873 $ 96,828 $ 45,367 Dividends to preferred unitholders $ — $ — $ — $ — Net income available for common unitholders $ 64,677 $ 143,873 $ 96,828 $ 45,367 Per unit: Net income available per common unit - basic $ 0.81 $ 1.81 $ 1.22 $ 0.57 Net income available per common unit - diluted $ 0.81 $ 1.81 $ 1.22 $ 0.57 Distribution paid $ 0.77 $ 0.77 $ 0.77 $ 0.77 |
Parent Company [Member] | ||
Schedule of Quarterly Financial Information [Table Text Block] | (Dollars in thousands except per share data) Year Ended December 31, 2016 First Second Third Fourth Total operating revenues $ 269,016 $ 272,236 $ 276,898 $ 307,198 Income from continuing operations before non-operating items $ 76,709 $ 77,794 $ 73,790 $ 43,857 Interest expense $ (32,211 ) $ (32,039 ) $ (32,168 ) $ (33,529 ) Gain (loss) from real estate joint ventures $ 128 $ (101 ) $ — $ 214 Net income $ 45,808 $ 47,630 $ 88,906 $ 42,058 Net income attributable to noncontrolling interest $ 2,395 $ 2,486 $ 4,627 $ 2,672 Dividends to preferred shareholders $ — $ — $ — $ 307 Net income available for MAA common shareholders $ 43,413 $ 45,144 $ 84,279 $ 39,079 Per share: Net income available per common share - basic $ 0.58 $ 0.60 $ 1.12 $ 0.44 Net income available per common share - diluted $ 0.58 $ 0.60 $ 1.12 $ 0.44 Dividend paid $ 0.82 $ 0.82 $ 0.82 $ 0.82 | Year Ended December 31, 2015 First Second Third Fourth Total operating revenues $ 258,552 $ 258,891 $ 261,998 $ 263,337 Income from continuing operations before non-operating items $ 69,393 $ 68,837 $ 73,138 $ 76,763 Interest expense $ (30,848 ) $ (30,433 ) $ (30,229 ) $ (30,834 ) Gain (loss) from real estate joint ventures $ 19 $ (23 ) $ (1 ) $ 3 Net income $ 64,677 $ 143,873 $ 96,828 $ 45,367 Net income attributable to noncontrolling interest $ 3,410 $ 7,574 $ 5,094 $ 2,380 Dividends to preferred shareholders $ — $ — $ — $ — Net income available for MAA common shareholders $ 61,267 $ 136,299 $ 91,734 $ 42,987 Per share: Net income available per common share - basic $ 0.81 $ 1.81 $ 1.22 $ 0.57 Net income available per common share - diluted $ 0.81 $ 1.81 $ 1.22 $ 0.57 Dividend paid $ 0.77 $ 0.77 $ 0.77 $ 0.77 |
Organization and Summary of S43
Organization and Summary of Significant Accounting Policies (Textual) (Details) $ / shares in Units, ft² in Thousands | 12 Months Ended | |||||||||
Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2016shares | Dec. 31, 2016 | Dec. 31, 2016Property | Dec. 31, 2016ft² | Dec. 31, 2016Communities | Sep. 30, 2016USD ($) | |
Real Estate Properties | ||||||||||
Preferred Stock, Shares Outstanding | shares | 867,846 | |||||||||
General partners' capital account, units outstanding | shares | 75,408,571 | 113,518,212 | ||||||||
Limited Liability (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 0.9641544705 | |||||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 94.80% | |||||||||
Number of Real Estate Properties | 303 | 302 | ||||||||
Advertising expenses | $ 13,000,000 | $ 13,500,000 | $ 12,400,000 | |||||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 28,700,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 2,000,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 1,600,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 800,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 500,000 | |||||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 50 | |||||||||
Furniture, fixtures and equipment | ||||||||||
Real Estate Properties | ||||||||||
Estimated useful lives (years) | 5 years | |||||||||
Leases, Acquired-in-Place | ||||||||||
Real Estate Properties | ||||||||||
Amortization period of in-place leases and residential relationships (months) | 6 months | |||||||||
Lease Intangibles, Gross | 6,100,000 | 8,300,000 | $ 42,400,000 | |||||||
Accumulated amortization | 2,300,000 | 1,800,000 | $ 7,300,000 | |||||||
Depreciation and amortization | $ 8,700,000 | $ 5,000,000 | 24,500,000 | |||||||
Minimum | ||||||||||
Real Estate Properties | ||||||||||
Percentage of ownership interests of all consolidated subsidiaries (percent) | 93.00% | |||||||||
Minimum | Land improvements and buildings | ||||||||||
Real Estate Properties | ||||||||||
Estimated useful lives (years) | 8 years | |||||||||
Minimum | Computer and software | ||||||||||
Real Estate Properties | ||||||||||
Estimated useful lives (years) | 3 years | |||||||||
Maximum | ||||||||||
Real Estate Properties | ||||||||||
Percentage of ownership interests of all consolidated subsidiaries (percent) | 100.00% | |||||||||
Maximum self insurance reserve for workers' compensation claims | 500,000 | |||||||||
Maximum self insurance reserve for general liability claims | 100,000 | |||||||||
Maximum | Land improvements and buildings | ||||||||||
Real Estate Properties | ||||||||||
Estimated useful lives (years) | 40 years | |||||||||
Maximum | Computer and software | ||||||||||
Real Estate Properties | ||||||||||
Estimated useful lives (years) | 5 years | |||||||||
Development Properties | ||||||||||
Real Estate Properties | ||||||||||
Number of Real Estate Properties | Communities | 9 | |||||||||
Number of units under development community | Property | 2,816 | |||||||||
Number of units in real estate property | Property | 700 | |||||||||
Development Properties | Expected Costs | ||||||||||
Real Estate Properties | ||||||||||
Development and capital improvements in progress | 561,800,000 | |||||||||
Development Properties | Costs Incurred to Date | ||||||||||
Real Estate Properties | ||||||||||
Development and capital improvements in progress | 366,500,000 | |||||||||
Retail | ||||||||||
Real Estate Properties | ||||||||||
Number of Real Estate Properties | Property | 29 | |||||||||
Square footage of real estate property (square foot) | ft² | 601 | |||||||||
Commercial Properties | ||||||||||
Real Estate Properties | ||||||||||
Number of Real Estate Properties | Property | 4 | |||||||||
Square footage of real estate property (square foot) | ft² | 269 | |||||||||
Colonial Grand at McKinney | ||||||||||
Real Estate Properties | ||||||||||
Equity Method Investment, Ownership Percentage | 35.00% | |||||||||
Real Estate Investments, Joint Ventures | 44,500,000 | |||||||||
Post River North [Member] | ||||||||||
Real Estate Properties | ||||||||||
Number of units in real estate property | 358 | |||||||||
Percentage of ownership interests of all consolidated subsidiaries (percent) | 92.50% | |||||||||
Parent Company [Member] | ||||||||||
Real Estate Properties | ||||||||||
Preferred Stock, Shares Outstanding | shares | 0 | 867,846 | ||||||||
Development and capital improvements in progress | $ 44,355,000 | 231,224,000 | ||||||||
Common Stock, Conversion Basis | 0.71 | |||||||||
Total interest capitalized during period | $ 2,073,000 | 1,655,000 | 1,722,000 | |||||||
Capitalized Salaries | 300,000 | 400,000 | 1,700,000 | |||||||
Capitalized Real Estate Taxes | 300,000 | 200,000 | 200,000 | |||||||
Lease Intangibles, Gross | 8,138,332,000 | 12,869,198,000 | ||||||||
Accumulated amortization | 1,482,368,000 | 1,656,071,000 | ||||||||
Depreciation and amortization | 322,958,000 | 294,520,000 | 301,812,000 | |||||||
Goodwill | 1,607,000 | 2,300,000 | 1,239,000 | |||||||
Parent Company [Member] | Maximum | ||||||||||
Real Estate Properties | ||||||||||
Maximum self insurance reserve for general liability claims | 200,000 | |||||||||
Accrued Liabilities [Member] | ||||||||||
Real Estate Properties | ||||||||||
Dividends Payable | 65,200,000 | 102,400,000 | ||||||||
Accrued Real Estate Taxes | 63,300,000 | 97,600,000 | ||||||||
Unearned Income | 39,400,000 | 25,400,000 | ||||||||
Loss Contingency, Loss in Period | $ 42,100,000 | 13,500,000 | ||||||||
Interest Payable | $ 17,200,000 | 15,200,000 | ||||||||
Limited Partner [Member] | ||||||||||
Real Estate Properties | ||||||||||
General partners' capital account, units outstanding | shares | 75,408,571 | 113,518,212 | ||||||||
Development and capital improvements in progress | $ 44,355,000 | 231,224,000 | ||||||||
Common Unit, Conversion Basis | 0.71 | |||||||||
Total interest capitalized during period | $ 2,073,000 | 1,655,000 | 1,722,000 | |||||||
Lease Intangibles, Gross | 8,138,332,000 | 12,869,198,000 | ||||||||
Accumulated amortization | 1,482,368,000 | 1,656,071,000 | ||||||||
Depreciation and amortization | $ 322,958,000 | 294,520,000 | $ 301,812,000 | |||||||
Goodwill | $ 1,607,000 | $ 1,239,000 |
Business Combinations (Unaudite
Business Combinations (Unaudited Pro forma Information) (Details) - Parent Company [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 01, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||||
Purchase price for Colonial merger | $ 4,006,586 | $ 0 | $ 0 | |
Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Purchase Price Allocation, Assets Acquired | $ 4,746,963 | |||
Business Acquisition, Purchase Price Allocation, Liabilities Assumed | (738,071) | |||
Purchase price for Colonial merger | 4,006,586 | |||
Land | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 875,737 | |||
Building and Building Improvements | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 3,401,983 | |||
Furniture Fixtures And Equipment | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 81,389 | |||
Construction in Progress | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 184,044 | |||
Unimproved Land | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 24,200 | |||
Assets Held-for-sale | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 3,610 | |||
Real Estate Investment [Member] | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 44,435 | |||
Finite-Lived Intangible Assets, Major Class Name | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 53,192 | |||
Cash and Cash Equivalents [Member] | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 34,292 | |||
Restricted Cash | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 3,608 | |||
Other Assets | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | 40,473 | |||
Debt | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Liabilities Assumed | (595,609) | |||
Interest Rate Cash Flow Hedge Liability at Fair Value | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Liabilities Assumed | (2,118) | |||
Other Current Liabilities [Member] | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Assets Acquired | (1,661) | |||
Other Liabilities | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Liabilities Assumed | (138,683) | |||
Noncontrolling Interest | Post [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, PPA, Liabilities Assumed | $ (2,306) |
Business Combinations (Textual)
Business Combinations (Textual) (Details) $ / shares in Units, ft² in Thousands | Dec. 01, 2016USD ($)ft²propertiesCommunities$ / sharesshares | Dec. 31, 2016USD ($)shares | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($)shares | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2016USD ($)Propertyshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($) |
Business Acquisition [Line Items] | ||||||||||||
Noncontrolling Interest in Joint Ventures | $ 2,300,000 | $ 2,300,000 | ||||||||||
Number Of Units Acquired In Real Estate Property | Property | 1,626 | |||||||||||
Business Combinations, Other Consideration | $ 2,000,000 | |||||||||||
Business Combination, Merger and Integration Related Expenses | $ 0 | |||||||||||
Preferred Stock, Shares Outstanding | shares | 867,846 | 867,846 | ||||||||||
Acquisition Costs, Cumulative | $ 339,200,000 | $ 339,200,000 | ||||||||||
Redeemable Preferred Stock [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Preferred Stock, Shares Outstanding | shares | 868,000 | |||||||||||
Equity Method Investments [Member] | Post [Member] [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Number Of Units Acquired In Real Estate Property | Communities | 261 | |||||||||||
Development Portfolio [Member] | Post [Member] [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Number Of Units Acquired In Real Estate Property | Communities | 2,266 | |||||||||||
Parent Company [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Noncontrolling Interest in Joint Ventures | 2,306,000 | $ 0 | 2,306,000 | 0 | ||||||||
Total operating revenues | 307,198,000 | $ 276,898,000 | $ 272,236,000 | $ 269,016,000 | 263,337,000 | $ 261,998,000 | $ 258,891,000 | $ 258,552,000 | 1,125,348,000 | 1,042,779,000 | $ 992,332,000 | |
Acquired properties, purchase price | $ (4,006,586,000) | $ 0 | $ (4,006,586,000) | $ 0 | $ 0 | |||||||
Preferred Stock, Shares Outstanding | shares | 867,846 | 0 | 867,846 | 0 | ||||||||
Parent Company [Member] | Post [Member] [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Number of Apartment Communities Acquired in Real Estate Property | Communities | 61 | |||||||||||
Number Of Units Acquired In Real Estate Property | Communities | 24,138 | |||||||||||
Number of Commercial Properties Acquired in Real Estate Property | properties | 4 | |||||||||||
Acquired properties, purchase price | $ (4,006,586,000) | |||||||||||
Share Price | $ / shares | $ 91.41 | |||||||||||
Stock Issued During Period, Shares, Acquisitions | shares | 38,000,000 | |||||||||||
Parent Company [Member] | Commercial | Post [Member] [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Square footage of real estate property (square foot) | ft² | 269 | |||||||||||
Pro Forma [Member] | Post [Member] [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Total operating revenues | $ 1,494,298 | $ 1,426,785 | ||||||||||
Additional Paid-in Capital | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Business Combination, Merger and Integration Related Expenses | 1,100,000 | |||||||||||
Noncontrolling Interest | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Stock Issued During Period, Shares, Acquisitions | shares | 100,000 | |||||||||||
Operating Income (Loss) [Member] | Post [Member] [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Income (Loss) Attributable to Parent | 1,000,000 | |||||||||||
Sales Revenue, Net [Member] | Post [Member] [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Total operating revenues | 33,500,000 | |||||||||||
Business Combination, Separately Recognized Transactions [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Business Combination, Merger and Integration Related Expenses | $ 40,800,000 |
Business Combinations Pro forma
Business Combinations Pro forma (Details) - Post [Member] [Domain] - Pro Forma [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ||
Total operating revenues | $ 1,494,298 | $ 1,426,785 |
Net Income (Loss) Available to Shareholders | $ 296,084 | $ 330,886 |
Earnings Per Share, Diluted | $ 2.61 | $ 2.90 |
Earnings Per Common Share of 47
Earnings Per Common Share of MAA (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Earnings Per Share Disclosure | ||||
Dividends, Preferred Stock, Cash | $ 0 | $ 0 | ||
Parent Company [Member] | ||||
Earnings Per Share Disclosure | ||||
Weighted average common shares, basic | 78,502 | 75,176 | 74,982 | |
Weighted Average General Partnership Units Outstanding | 0 | 0 | 0 | |
Weighted Average Number Diluted Shares Outstanding Adjustment | 298 | 0 | 0 | |
Weighted average common shares - diluted | 78,800 | 75,176 | 74,982 | |
Dividends, Preferred Stock, Cash | $ 924 | |||
Calculation of Basic Earnings per Share [Member] | Parent Company [Member] | ||||
Earnings Per Share Disclosure | ||||
Income from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 224,402 | $ 350,745 | $ 150,946 | |
Income from Continuing Operations Attributable to Noncontrolling Interest | (12,180) | (18,458) | (8,013) | |
Income from continuing operations allocated to unvested restricted shares | (572) | (772) | (278) | |
Dividends, Preferred Stock, Cash | (307) | 0 | 0 | |
Income from continuing operations available for common shareholders, adjusted | 211,343 | 331,515 | 142,655 | |
Income from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 0 | 0 | 5,331 | |
Income from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest | 0 | 0 | (284) | |
Income from discontinued operations allocated to unvested restricted shares | 0 | 0 | (10) | |
Income from discontinued operations available for common shareholders, adjusted | $ 0 | $ 0 | $ 5,037 | |
Basic Earnings Per Share | $ 2.69 | $ 4.41 | $ 1.97 | |
Calculation of Diluted Earnings per Share [Member] | Parent Company [Member] | ||||
Earnings Per Share Disclosure | ||||
Income from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | $ 224,402 | $ 350,745 | $ 150,946 | |
Income from Continuing Operations Attributable to Noncontrolling Interest | (12,180) | (18,458) | (8,013) | |
Income from continuing operations allocated to unvested restricted shares | 0 | (772) | (278) | |
Dividends, Preferred Stock, Cash | (307) | 0 | 0 | |
Income from continuing operations available for common shareholders, adjusted | 211,915 | 331,515 | 142,655 | |
Income from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 0 | 0 | 5,331 | |
Income from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest | 0 | 0 | (284) | |
Income from discontinued operations allocated to unvested restricted shares | 0 | 0 | (10) | |
Income from discontinued operations available for common shareholders, adjusted | $ 0 | $ 0 | $ 5,037 | |
Diluted Earnings Per Share | $ 2.69 | $ 4.41 | $ 1.97 | |
Limited Partnership Units [Member] | Parent Company [Member] | ||||
Earnings Per Share Disclosure | ||||
Effect of dilutive securities (shares) | [1] | 4,200 | ||
Restricted Stock [Member] | Parent Company [Member] | ||||
Earnings Per Share Disclosure | ||||
Effect of dilutive securities (shares) | [2] | 100 | ||
[1] | 4.2 million OP units and their related income are not included in the diluted earnings per share calculations as they are not dilutive. | |||
[2] | 0.1 million potentially dilutive securities and their related income are not included in the diluted earnings per share calculation as they are not dilutive. |
Earnings Per OP Unit of MAALP48
Earnings Per OP Unit of MAALP (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Earnings Per Share, Basic [Abstract] | ||||
Dividends, Preferred Stock, Cash | $ 0 | $ 0 | ||
Limited Partner [Member] | ||||
Earnings Per Unit Disclosure | ||||
Weighted average common units - basic | 82,661 | 79,361 | 79,188 | |
Weighted Average Number Diluted Shares Outstanding Adjustment | 298 | 0 | 0 | |
Weighted average common shares - diluted | 82,959 | 79,361 | 79,188 | |
Earnings Per Share, Basic [Abstract] | ||||
Dividends, Preferred Stock, Cash | $ 924 | $ 0 | $ 0 | |
Limited Partner [Member] | Calculation of Basic Earnings Per Unit [Member] | ||||
Earnings Per Share, Basic [Abstract] | ||||
Income from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 224,402 | 350,745 | 150,946 | |
Income from continuing operations allocated to unvested restricted shares | 574 | 772 | 278 | |
Dividends, Preferred Stock, Cash | (307) | 0 | 0 | |
Income from continuing operations available for common unitholders, adjusted | 223,521 | 349,973 | 150,668 | |
Income from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 0 | 0 | 5,331 | |
Income from discontinued operations allocated to unvested restricted shares | 0 | 0 | (10) | |
Income from discontinued operations available for common unitholders, adjusted | $ 0 | $ 0 | $ 5,321 | |
Earnings per unit - basic | $ 2.70 | $ 4.41 | $ 1.97 | |
Limited Partner [Member] | Calculation of Diluted Earnings Per Unit [Member] | ||||
Earnings Per Share, Basic [Abstract] | ||||
Income from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | $ 224,402 | $ 350,745 | $ 150,946 | |
Income from continuing operations allocated to unvested restricted shares | 0 | 772 | 278 | |
Dividends, Preferred Stock, Cash | (307) | 0 | 0 | |
Income from continuing operations available for common unitholders, adjusted | 224,095 | 349,973 | 150,668 | |
Income from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 0 | 0 | 5,331 | |
Income from discontinued operations allocated to unvested restricted shares | 0 | 0 | (10) | |
Income from discontinued operations available for common unitholders, adjusted | $ 0 | $ 0 | $ 5,321 | |
Diluted Earnings Per Unit | $ 2.70 | $ 4.41 | $ 1.97 | |
Limited Partner [Member] | Restricted Stock [Member] | ||||
Earnings Per Share, Basic [Abstract] | ||||
Effect of dilutive securities (units) | [1] | 100 | ||
[1] | 0.1 million potentially dilutive securities and their related income are not included in the diluted earnings per unit calculations as they are not dilutive. |
Stock Based Compensation Textua
Stock Based Compensation Textual (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 12,200,000 | $ 6,900,000 | $ 5,200,000 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ 697,000 | 735,000 | 431,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 8,100,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 1 month | ||
Employee Service Share-based Compensation, Cash Flow Effect, Cash Used to Settle Awards | $ 2,000,000 | 1,000,000 | 600,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 5,100,000 | $ 2,900,000 | $ 2,700,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 18.08 | ||
Stock Incentive Plan 2004 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 500,000 | ||
2013 Stock Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 625,000 | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 73.20 | $ 68.35 | $ 62.40 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 3 years | 3 years | 3 years |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 108,198 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 147,282 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 76.16 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 3,400,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 6 years 1 month | ||
Proceeds from Stock Options Exercised | $ 400,000 | $ 12,200,000 | |
Minimum | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Minimum | Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 months 18 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 1 year 1 month 8 days | ||
Maximum | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||
Maximum | Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years 3 months 18 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 2 years 1 month 8 days | ||
Risk Free Rate [Member] | Minimum | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 3 months | ||
Risk Free Rate [Member] | Maximum | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 3 years | ||
Volatility [Member] | Minimum | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 2 years | 1 year | 1 year |
Volatility [Member] | Maximum | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 1 year | 2 years | 3 years |
Stock Based Compensation Key As
Stock Based Compensation Key Assumptions for Restricted Stock Grants (Details) - Restricted Stock [Member] | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 3.634% | 3.932% | 4.755% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 18.41% | 15.41% | 18.31% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 19.45% | 16.04% | 20.48% |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 3 years | 3 years | 3 years |
Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.49% | 0.10% | 0.02% |
Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.27% | 1.05% | 0.80% |
Volatility [Member] | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 2 years | 1 year | 1 year |
Volatility [Member] | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 1 year | 2 years | 3 years |
Stock Based Compensation Status
Stock Based Compensation Status of Nonvested Restricted Shares (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 225,624 | 187,941 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 71.61 | $ 63.36 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Issues in Period | 119,039 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Issues in Period, Weighted Average Grant Date Fair Value | $ 79.51 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 80,342 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 64 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 1,014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 71.84 |
Stock Based Compensation Key 52
Stock Based Compensation Key Assumptions for Stock Option Grants (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 3 years | 3 years | 3 years |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 3.634% | 3.932% | 4.755% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 18.41% | 15.41% | 18.31% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 19.45% | 16.04% | 20.48% |
Restricted Stock [Member] | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.49% | 0.10% | 0.02% |
Restricted Stock [Member] | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.27% | 1.05% | 0.80% |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 3.81% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 21.02% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 21.57% | ||
Employee Stock Option [Member] | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 1 year 1 month 8 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.64% | ||
Employee Stock Option [Member] | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 2 years 1 month 8 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.63% | ||
Volatility [Member] | Restricted Stock [Member] | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 2 years | 1 year | 1 year |
Volatility [Member] | Restricted Stock [Member] | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 1 year | 2 years | 3 years |
Stock Based Compensation Stat53
Stock Based Compensation Status of Stock Options (Details) - Employee Stock Option [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 147,282 | 58,112 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 76.16 | $ 86.21 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 108,198 | 0 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 75.58 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | (19,028) | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $ 103.56 |
Borrowings (Indebtedness) (Deta
Borrowings (Indebtedness) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 4,499,712 | $ 3,427,600 | |
Average interest rate (percentage) | 3.50% | 3.70% | |
Contract maturity | Nov. 8, 2020 | ||
Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Average interest rate (percentage) | 3.50% | ||
Contract maturity | Jun. 16, 2019 | ||
Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 2,700,000 | ||
Total outstanding debt | $ 3,180,624 | ||
Average interest rate (percentage) | 3.40% | ||
Contract maturity | Jun. 7, 2021 | ||
Mortgages | |||
Debt Instrument [Line Items] | |||
Average interest rate (percentage) | 5.99% | ||
FNMA | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, amount outstanding | $ 160,000 | ||
Term Loan [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 850,000 | ||
Average interest rate (percentage) | 3.10% | ||
Contract maturity | Nov. 10, 2017 | ||
Senior Notes | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Average interest rate (percentage) | 3.70% | ||
Fixed Rate Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 3,838,300 | $ 3,148,100 | |
Fixed Rate Debt | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 1,128,284 | ||
Average interest rate (percentage) | 3.90% | ||
Contract maturity | Aug. 11, 2019 | ||
Fixed Rate Debt | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 1,860,000 | 1,535,200 | |
Variable Rate Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | 650,000 | 265,000 | |
Variable Rate Debt | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | [1] | $ 160,000 | |
Average interest rate (percentage) | 1.10% | ||
Contract maturity | Jun. 1, 2018 | ||
Variable Rate Debt | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | [2] | $ 490,000 | 75,000 |
Fair Market Value Adjustment and Debt Issuance Cost [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | 11,400 | $ 14,500 | |
$750 million unsecured revolving credit facility [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Line of credit facility, amount outstanding | $ 490,000 | ||
Average interest rate (percentage) | 1.64% | ||
Secured Debt [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 1,319,088 | ||
Variable Rate Credit Facility [Member] | FNMA | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, amount outstanding | $ 160,000 | ||
Average interest rate (percentage) | 1.10% | ||
Contract maturity | Jun. 1, 2018 | ||
Fixed Rate Debt | Mortgages | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Mortgage Loans on Real Estate | $ 1,128,284 | ||
Average interest rate (percentage) | 3.90% | ||
Contract maturity | Aug. 11, 2019 | ||
Fixed Rate Debt | Senior Notes | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 1,860,000 | ||
Average interest rate (percentage) | 4.10% | ||
Contract maturity | May 29, 2023 | ||
Freddie Mac | FNMA | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Average interest rate (percentage) | 1.10% | ||
Freddie Mac | $500 million unsecured revolving credit faciltiy [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Line of credit facility, amount outstanding | $ 490,000 | ||
Average interest rate (percentage) | 1.60% | ||
Contract maturity | Apr. 15, 2020 | ||
Fair Market Value Adjustment and Debt Issuance Cost [Member] | $750 million unsecured revolving credit facility [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, amount outstanding | $ 30,804 | ||
Debt Instrument, Face Amount | $ (19,376) | ||
Contract maturity | |||
Minimum | $750 million unsecured revolving credit facility [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 0.85% | ||
Maximum | $750 million unsecured revolving credit facility [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.55% | ||
[1] | Includes capped balances | ||
[2] | Amounts are adjusted to reflect interest rate swap and cap agreements in effect at December 31, 2016, and 2015, respectively, which results in us paying fixed interest payments over the terms of the interest rate swaps and on changes in interest rates above the strike rate of the cap. |
Borrowings (Interest Rate Range
Borrowings (Interest Rate Ranges, Maturity and Balance of Indebtedness) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 4,499,712 | $ 3,427,600 | |
Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | 3,180,624 | ||
Fixed Rate Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 3,838,300 | 3,148,100 | |
Fixed Rate Debt | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Average Interest Rates | 3.92% | ||
Total outstanding debt | $ 1,128,300 | 1,062,900 | |
Fixed Rate Debt | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Average Interest Rates | 4.06% | ||
Total outstanding debt | $ 1,860,000 | 1,535,200 | |
Fixed Rate Debt | Interest Rate Swap | |||
Debt Instrument [Line Items] | |||
Average Interest Rates | 2.80% | ||
Total outstanding debt | $ 850,000 | 550,000 | |
Fixed Rate Debt | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 1,128,284 | ||
Fixed Rate Debt | Minimum | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | 0.0300 | ||
Debt Instrument Maturity Year | 2,017 | ||
Fixed Rate Debt | Minimum | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | .0315 | ||
Debt Instrument Maturity Year | 2,017 | ||
Fixed Rate Debt | Minimum | Interest Rate Swap | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | .0263 | ||
Debt Instrument Maturity Year | 2,017 | ||
Fixed Rate Debt | Maximum | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | 0.0549 | ||
Debt Instrument Maturity Year | 2,025 | ||
Fixed Rate Debt | Maximum | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | 0.0557 | ||
Debt Instrument Maturity Year | 2,025 | ||
Fixed Rate Debt | Maximum | Interest Rate Swap | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | 0.0663 | ||
Debt Instrument Maturity Year | 2,018 | ||
Variable Rate [Domain] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Interest rate, stated percentage | 1.65% | ||
Variable Rate [Domain] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate, stated percentage | 1.08% | ||
Variable Rate [Domain] | Interest Rate Cap | |||
Debt Instrument [Line Items] | |||
Interest rate, stated percentage | 1.08% | ||
Variable Rate Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 650,000 | 265,000 | |
Variable Rate Debt | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Average Interest Rates | [1] | 1.08% | |
Total outstanding debt | [1] | $ 110,000 | 65,000 |
Variable Rate Debt | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument Maturity Year | [1] | 2,020 | |
Average Interest Rates | [1] | 1.65% | |
Total outstanding debt | [1] | $ 490,000 | 75,000 |
Interest rate, stated percentage | [1] | 1.65% | |
Variable Rate Debt | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | [2] | $ 160,000 | |
Variable Rate Debt | Interest Rate Cap | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | [1] | 0.0180 | |
Average Interest Rates | [1] | 1.08% | |
Total outstanding debt | [1] | $ 50,000 | 125,000 |
Variable Rate Debt | Minimum | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | [1] | .0180 | |
Debt Instrument Maturity Year | [1] | 2,017 | |
Variable Rate Debt | Minimum | Interest Rate Cap | |||
Debt Instrument [Line Items] | |||
Debt Instrument Maturity Year | [1] | 2,017 | |
Variable Rate Debt | Maximum | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | [1] | .018 | |
Debt Instrument Maturity Year | [1] | 2,017 | |
Variable Rate Debt | Maximum | Interest Rate Cap | |||
Debt Instrument [Line Items] | |||
Debt Instrument Maturity Year | [1] | 2,017 | |
Fair Market Value Adjustment and Debt Issuance Cost [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 11,400 | $ 14,500 | |
[1] | Amounts are adjusted to reflect interest rate swap and cap agreements in effect at December 31, 2016, and 2015, respectively, which results in us paying fixed interest payments over the terms of the interest rate swaps and on changes in interest rates above the strike rate of the cap. | ||
[2] | Includes capped balances |
Borrowings (Scheduled Principal
Borrowings (Scheduled Principal Repayments on Borrowings) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
2,016 | $ 303,635 | |
2,017 | 486,954 | |
2,018 | 725,920 | |
2,019 | 795,224 | |
2,020 | 339,941 | |
Thereafter | 1,848,038 | |
Total outstanding debt | 4,499,712 | $ 3,427,600 |
Amortization Other [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 26,110 | |
2,017 | 21,525 | |
2,018 | 6,778 | |
2,019 | 2,768 | |
2,020 | (677) | |
Thereafter | (1,350) | |
Total outstanding debt | 55,154 | |
Maturities | ||
Debt Instrument [Line Items] | ||
2,016 | 277,525 | |
2,017 | 465,429 | |
2,018 | 719,142 | |
2,019 | 792,456 | |
2,020 | 340,618 | |
Thereafter | 1,849,388 | |
Total outstanding debt | $ 4,444,558 |
Borrowings (Textual) (Details)
Borrowings (Textual) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 4,499,712 | $ 3,427,600 | ||
Average interest rate (percentage) | 3.50% | 3.70% | ||
Fixed Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 3,838,300 | $ 3,148,100 | ||
Mortgages | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 5.99% | |||
Conventional Variable Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 110,000 | |||
Variable interest rate (percent) | 1.10% | |||
Floating Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 650,000 | 265,000 | ||
Capped Conventional Variable Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 50,000 | |||
Variable interest rate (percent) | 1.10% | |||
Other Than Conventional Variable Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 1,100,000 | |||
Average interest rates (percent) | 3.90% | |||
$250 million publicly issued bond [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 3.38% | |||
Debt Instrument, Face Amount | $ 250,000 | |||
$150 million publicly issued bond [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 4.75% | |||
Debt Instrument, Face Amount | $ 150,000 | |||
Principal Forgiveness [Member] | $250 million publicly issued bond [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 2,300 | |||
Principal Forgiveness [Member] | $150 million publicly issued bond [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 2,600 | |||
Unsecured Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 3,180,624 | |||
Average interest rate (percentage) | 3.40% | |||
Debt Instrument, Face Amount | $ 2,700,000 | |||
Unsecured Debt | $750 million unsecured revolving credit facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 1.64% | |||
Line of credit facility, maximum borrowing capacity | $ 1,000,000 | |||
Line of credit facility, amount outstanding | 490,000 | |||
Unsecured Debt | $500 million unsecured revolving credit faciltiy [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of credit outstanding amount | 3,300 | |||
Unsecured Debt | Fixed Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 1,860,000 | 1,535,200 | ||
Average interest rates (percent) | 4.06% | |||
Unsecured Debt | Floating Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | [1] | $ 490,000 | 75,000 | |
Average interest rates (percent) | [1] | 1.65% | ||
Interest rate, stated percentage | [1] | 1.65% | ||
Unsecured Debt | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 3.70% | |||
Unsecured Debt | KeyBank Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 150,000 | |||
Unsecured Debt | Wells Fargo Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 300,000 | |||
Unsecured Debt | Wells Fargo Term Loan 2018 [Domain] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 250,000 | |||
Unsecured Debt | US Bank Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 150,000 | |||
Unsecured Debt | Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 3.10% | |||
Debt Instrument, Face Amount | $ 850,000 | |||
Unsecured Debt | 2011 and 2012 Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 310,000 | |||
Unsecured Debt | Minimum | $750 million unsecured revolving credit facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.85% | |||
Unsecured Debt | Minimum | KeyBank Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.90% | |||
Unsecured Debt | Minimum | Wells Fargo Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.90% | |||
Unsecured Debt | Minimum | US Bank Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.90% | |||
Unsecured Debt | Maximum | $750 million unsecured revolving credit facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | $ 1,500,000 | |||
Debt Instrument, Basis Spread on Variable Rate | 1.55% | |||
Unsecured Debt | Maximum | KeyBank Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||
Unsecured Debt | Maximum | Wells Fargo Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.90% | |||
Unsecured Debt | Maximum | US Bank Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.90% | |||
Unsecured Debt | Variable Rate Debt | $500 million unsecured revolving credit faciltiy [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 1.60% | |||
Line of credit facility, amount outstanding | $ 490,000 | |||
Unsecured Debt | Fixed Rate Debt | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 4.10% | |||
Debt Instrument, Face Amount | $ 1,860,000 | |||
Unsecured Debt | Fixed Rate Debt | Public Income Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 1,600,000 | |||
Unsecured Debt | Fixed Rate Debt | Private Placement [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 0 | |||
Secured Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 3.50% | |||
Secured Debt [Member] | FNMA | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | $ 160,000 | |||
Line of credit facility, amount outstanding | 160,000 | |||
Line of Credit Facility, Current Borrowing Capacity | 160,000 | |||
Secured Debt [Member] | Fixed Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 1,128,284 | |||
Average interest rate (percentage) | 3.90% | |||
Secured Debt [Member] | Floating Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | [2] | $ 160,000 | ||
Average interest rate (percentage) | 1.10% | |||
Secured Debt [Member] | Principal Forgiveness [Member] | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | $ 8,600 | |||
Secured Debt [Member] | Amortization Other [Member] | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | $ 8,400 | |||
Secured Debt [Member] | Variable Rate Debt | FNMA | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 1.10% | |||
Secured Debt [Member] | Fixed Rate Debt | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 3.90% | |||
Mortgage Loans on Real Estate | $ 1,128,284 | |||
Colonial Village at Matthews [Member] | Secured Debt [Member] | Fixed Rate Debt | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | 13,400 | |||
Verandas at Southwood [Member] | Secured Debt [Member] | Fixed Rate Debt | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | 20,200 | |||
Legacy at Western Oaks | Secured Debt [Member] | Fixed Rate Debt | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | 28,900 | |||
Parent Company [Member] | ||||
Debt Instrument [Line Items] | ||||
Unsecured debt | 3,180,624 | 2,141,332 | ||
Proceeds from notes payable | 300,000 | 395,960 | $ 396,855 | |
Gains (Losses) on Extinguishment of Debt | (83) | $ (3,602) | $ (2,586) | |
Parent Company [Member] | Secured Debt [Member] | Fixed Rate Debt | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | $ 186,700 | |||
[1] | Amounts are adjusted to reflect interest rate swap and cap agreements in effect at December 31, 2016, and 2015, respectively, which results in us paying fixed interest payments over the terms of the interest rate swaps and on changes in interest rates above the strike rate of the cap. | |||
[2] | Includes capped balances |
Derivatives and Hedging Activ58
Derivatives and Hedging Activities (Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk) (Details) - Designated as Hedging Instrument | Dec. 31, 2016USD ($)Contract |
Interest Rate Cap | |
Derivative | |
Number of Instruments | Contract | 2 |
Derivative, Notional Amount | $ | $ 50,000,000 |
Interest Rate Swap | |
Derivative | |
Number of Instruments | Contract | 15 |
Derivative, Notional Amount | $ | $ 850,000,000 |
Derivatives and Hedging Activ59
Derivatives and Hedging Activities (Fair Values of Derivative Instruments on Condensed Consolidated Balance Sheet) (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Other Assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | $ 2,364,000 | $ 6,000 |
Interest Rate Swap | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 7,562,000 | 10,358,000 |
Parent Company [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 2,364,000,000 | 6,000 |
Liability Derivatives, Fair Value | $ 7,562,000 | $ 10,358,000 |
Derivatives and Hedging Activ60
Derivatives and Hedging Activities (Effect of Derivative Instruments on Consolidated Statement of Operations) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Derivative | ||||
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | $ (1,500,000) | $ (8,306,000) | $ (12,335,000) | |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | (4,364,000) | (7,064,000) | (11,785,000) | |
Interest Expense | ||||
Derivative | ||||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | (54,000) | (100,000) | (157,000) | |
Designated as Hedging Instrument | Interest Expense | ||||
Derivative | ||||
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | (4,364,000) | (7,064,000) | (11,785,000) | |
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) | (54,000) | (100,000) | (157,000) | |
Designated as Hedging Instrument | Interest Rate Contract | ||||
Derivative | ||||
Unrealized (loss) gain from the effective portion of derivative instruments | (1,500,000) | (8,306,000) | (12,335,000) | |
Not Designated as Hedging Instrument | ||||
Derivative | ||||
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0 | (3,000) | (146,000) | |
Not Designated as Hedging Instrument | Interest Expense | ||||
Derivative | ||||
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0 | (3,000) | (146,000) | |
Parent Company [Member] | ||||
Derivative | ||||
Accumulated other comprehensive income (losses) | 1,144,000 | (1,589,000) | (412,000) | $ 108,000 |
Unrealized (loss) gain from the effective portion of derivative instruments | $ (1,500,000) | $ (8,306,000) | $ (12,335,000) |
Derivatives and Hedging Activ61
Derivatives and Hedging Activities (Other Comprehensive Income) (Details) - Parent Company [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | $ (1,589) | $ (412) | $ 108 |
Other comprehensive income before reclassifications | (1,500) | (8,306) | (12,335) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 4,364 | 7,064 | 11,785 |
Net current-period other comprehensive income attributable to noncontrolling interest | (131) | 65 | 30 |
Net current-period other comprehensive income attributable to MAA | 2,733 | (1,177) | (520) |
Ending balance | $ 1,144 | $ (1,589) | $ (412) |
Derivatives and Hedging Activ62
Derivatives and Hedging Activities (Textual) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative | |||
Preferred Stock, Shares Issued | 867,846 | ||
Preferred Stock, Redemption Price Per Share | $ 50 | ||
Embedded Derivative, Fair Value of Embedded Derivative Asset | $ 10,800,000 | ||
Other Credit Enhancements | |||
Derivative | |||
Credit risk related contingent features termination value | 7,500,000 | ||
Termination | |||
Derivative | |||
Fair value of credit risk derivatives | 7,600,000 | ||
Net liability position | |||
Derivative | |||
Credit risk related contingent features termination value | 7,500,000 | ||
Interest Expense | |||
Derivative | |||
Change in fair value of derivatives, ineffective portion | 54,000 | $ 100,000 | $ 157,000 |
Designated as Hedging Instrument | Interest Expense | |||
Derivative | |||
Change in fair value of interest rate derivatives included in AOCI and expected to be reclassified in the next 12 months | 1,200,000 | ||
Other Assets | |||
Derivative | |||
Interest Rate Cash Flow Hedge Asset at Fair Value | 2,364,000 | 6,000 | |
Interest Rate Swap | |||
Derivative | |||
Fair market value of interest rate swaps | 7,562,000 | 10,358,000 | |
Parent Company [Member] | |||
Derivative | |||
Fair market value of interest rate swaps | 7,562,000 | 10,358,000 | |
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 2,364,000,000 | $ 6,000 | |
Preferred Stock, Shares Issued | 867,846 | 0 |
Fair Value Disclosure of Fina63
Fair Value Disclosure of Financial Instruments (Textual) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||
Preferred Stock, Redemption Date | Oct. 1, 2026 | |
Preferred Stock, Redemption Price Per Share | $ 50 | |
Fixed Rate Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||
Notes payable | $ 3,000 | $ 2,610 |
Notes payable at fair value | 3,130 | 2,710 |
Variable Rate Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||
Notes payable | 1,500 | 815 |
Notes payable at fair value | $ 1,511.3 | $ 817.7 |
Fair Value Disclosure of Fina64
Fair Value Disclosure of Financial Instruments (Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||
Embedded Derivative, Fair Value of Embedded Derivative Asset | $ 10,800 | |
Fair Value, Measurements, Recurring | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||
Derivative financial instruments, Asset | 2,364 | $ 6 |
Embedded Derivative, Fair Value of Embedded Derivative Asset | 10,783 | |
Derivative financial instruments, Liability | 7,562 | 10,358 |
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) | Fair Value, Measurements, Recurring | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||
Derivative financial instruments, Asset | 0 | 0 |
Embedded Derivative, Fair Value of Embedded Derivative Asset | 0 | |
Derivative financial instruments, Liability | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||
Derivative financial instruments, Asset | 2,364 | 6 |
Embedded Derivative, Fair Value of Embedded Derivative Asset | 10,783 | |
Derivative financial instruments, Liability | 7,562 | 10,358 |
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||
Derivative financial instruments, Asset | 0 | 0 |
Embedded Derivative, Fair Value of Embedded Derivative Asset | 0 | |
Derivative financial instruments, Liability | $ 0 | $ 0 |
Income Taxes (Taxability of Cas
Income Taxes (Taxability of Cash Distributions Paid on Common Shares) (Details) - Parent Company [Member] - $ / shares | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments, Owned, Federal Income Tax Note | |||||||||||
Ordinary income (dollars per share) | $ 3.28 | $ 3.07 | $ 2.76 | ||||||||
Ordinary income (percentage per share) | 100.00% | 99.70% | 94.40% | ||||||||
Return of capital (dollars per share) | $ 0 | $ 0 | $ 0 | ||||||||
Return of capital (percentage per share) | 0.00% | 0.00% | 6.00% | ||||||||
Un-recaptured Section 1250 gain dividends per share | $ 0 | $ 0.01 | $ 0 | ||||||||
Un-recaptured Section 1250 gain dividends per share percentage | 0.00% | 0.00% | 0.00% | ||||||||
Total (dollars per share) | $ 0.82 | $ 0.82 | $ 0.82 | $ 0.82 | $ 0.77 | $ 0.77 | $ 0.77 | $ 0.77 | $ 3.28 | $ 3.08 | $ 2.92 |
Total (percentage per share) | 100.00% | 100.00% | 100.00% |
Income Taxes (Textual) (Details
Income Taxes (Textual) (Details) | 12 Months Ended | |||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2016 | |
Investments, Owned, Federal Income Tax Note | ||||
Income tax examinations in process | 0 | |||
Parent Company [Member] | ||||
Investments, Owned, Federal Income Tax Note | ||||
Operating Loss Carryforwards | $ 71,500,000 | |||
Subsidiary of Common Parent | ||||
Investments, Owned, Federal Income Tax Note | ||||
Income tax expense/(benefit) | 0 | $ 0 | $ 0 | |
Operating Loss Carryforwards | 76,600,000 | $ 66,000,000 | ||
Designated as Hedging Instrument | Interest Rate Swap | ||||
Investments, Owned, Federal Income Tax Note | ||||
Derivative, Notional Amount | 850,000,000 | |||
Post Acquisition Period | Subsidiary of Common Parent | ||||
Investments, Owned, Federal Income Tax Note | ||||
Operating Loss Carryforwards | $ 9,400,000 | |||
Minimum | Subsidiary of Common Parent | ||||
Investments, Owned, Federal Income Tax Note | ||||
Operating Loss Carryforward, Expiration Date, Year | 2,030 | |||
Maximum | Subsidiary of Common Parent | ||||
Investments, Owned, Federal Income Tax Note | ||||
Operating Loss Carryforward, Expiration Date, Year | 2,036 |
Income Taxes Deferred Tax Asset
Income Taxes Deferred Tax Assets and Liabilities (Details) - Subsidiary of Common Parent - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Investments, Owned, Federal Income Tax Note | ||
Real estate asset basis differences | $ 13,387 | $ 25,627 |
Deferred revenue | 0 | 22 |
Deferred expenses | 12,481 | 14,106 |
Net operating loss carryforward | 32,585 | 28,493 |
Accrued liabilities | 102 | 3,951 |
Deferred tax assets | 58,555 | 72,199 |
Deferred tax liabilities, real estate asset basis differences | (311) | (145) |
Deferred Tax Liabilities, Net | (311) | (145) |
Net deferred tax assets, before valuation allowance | 58,244 | 72,054 |
Valuation Allowance | (58,244) | (72,054) |
Net deferred tax assets, included in other assets | $ 0 | $ 0 |
Income Taxes Reconciliation of
Income Taxes Reconciliation of Income Tax Attributable to Continuing Operations (Details) - Subsidiary of Common Parent - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments, Owned, Federal Income Tax Note | |||
Tax expense/(benefit) at U.S. statutory rates on TRS income subject to tax | $ 3,185 | $ 2,506 | $ 1,802 |
Effect of Permanent Differences and Other | 0 | (730) | (1,110) |
Valuation Allowance Change in Amount | (3,185) | (1,776) | (692) |
Income tax expense/(benefit) | $ 0 | $ 0 | $ 0 |
Shareholder's Equity (Details)
Shareholder's Equity (Details) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 08, 2015 | Dec. 31, 1999 | |
Stockholders Equity Note [Line Items] | |||||
Preferred Stock, Shares Outstanding | 867,846 | ||||
Common stock, shares outstanding | 113,518,212 | 75,408,571 | |||
Common shares and operating partnership units outstanding | 117,738,615 | 79,571,567 | |||
Treasury Stock, Shares, Acquired | 22,067 | 11,914 | |||
Preferred Stock, Liquidation Preference, Value | $ 43,400,000 | ||||
Noncontrolling Interest in Joint Ventures | $ 2,300,000 | ||||
RepurchasePlan%CSoutstanding | 5.30% | ||||
Shares, Outstanding | 2,100,000 | ||||
Preferred Stock, Liquidation Preference Per Share | $ 50 | ||||
Preferred Stock, Redemption Date | Oct. 1, 2026 | ||||
Preferred Stock, Redemption Price Per Share | $ 50 | ||||
Preferred Stock, Dividend Rate, Percentage | 8.50% | ||||
Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ 4.25 | ||||
Equity Option [Member] | |||||
Stockholders Equity Note [Line Items] | |||||
Common stock shares issued (shares) | 7,342 | 270,459 | |||
Maximum | |||||
Stockholders Equity Note [Line Items] | |||||
Common stock authorized for repurchase plan (shares) | 4,000,000 | 4,000,000 | |||
Period Covered from 1999 to 2011 | |||||
Stockholders Equity Note [Line Items] | |||||
Common stock repurchased and retired (shares) | 1,900,000 | ||||
Common stock repurchased and retired, value | $ 42,000,000 | ||||
Common stock repurchased and retired (dollars per share) | $ 22.54 | ||||
Dividend And Distribution Reinvestment And Share Purchase Plan | |||||
Stockholders Equity Note [Line Items] | |||||
Common stock issued for shareholders to reinvest distributions (shares) | 7,906 | 8,562 | 9,055 | ||
Dividend And Distribution Reinvestment And Share Purchase Plan | Minimum | |||||
Stockholders Equity Note [Line Items] | |||||
Optional cash investments in common shares | $ 250 | ||||
Dividend And Distribution Reinvestment And Share Purchase Plan | Maximum | |||||
Stockholders Equity Note [Line Items] | |||||
Optional cash investments in common shares | $ 5,000 | ||||
Common stock registered for Dividend and Distribution Reinvestment and Share Purchase Plan (shares) | 9,600,000 | ||||
Discount rate on sale of common stock (percent) | 5.00% | ||||
Parent Company [Member] | |||||
Stockholders Equity Note [Line Items] | |||||
Preferred Stock, Shares Outstanding | 867,846 | 0 | |||
Common stock, shares outstanding | 113,518,212 | 75,408,571 | |||
Percentage of Operating Partnership net income (percent) | 95.00% | 94.80% | 94.70% | ||
Noncontrolling Interest in Joint Ventures | $ 2,306,000 | $ 0 | |||
Common stock registered for Dividend and Distribution Reinvestment and Share Purchase Plan (shares) | 145,000,000 | 100,000,000 | |||
Proceeds from issuance of common stock | $ 291,000 | $ 622,000 | $ 1,042,000 | ||
Proceeds from Stock Options Exercised | $ 0 | $ 420,000 | 12,245,000 | ||
Preferred Stock, Liquidation Preference Per Share | $ 50 | $ 0 | |||
Employee Stock Option [Member] | |||||
Stockholders Equity Note [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 147,282 | 58,112 | |||
Proceeds from Stock Options Exercised | $ 400,000 | $ 12,200,000 | |||
Noncontrolling Interest | |||||
Stockholders Equity Note [Line Items] | |||||
Common Shares Issuable Upon Conversion Of Convertible Stock | 4,220,403 | 4,162,996 | |||
Limited Partners' Capital Account | $ 413,300,000 | $ 378,000,000 | |||
Redeemable Capital Shares Par Or Stated Value Per Share | $ 97.92 | $ 90.81 | |||
Percentage of Operating Partnership net income (percent) | 5.00% | 5.20% | 5.30% |
Partners' Capital of MAA LP (De
Partners' Capital of MAA LP (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2016 | |
Schedule of Capital Structure [Line Items] | ||
Operating partnership units outstanding | 79,571,567 | 117,738,615 |
General partners' capital account, units outstanding | 75,408,571 | 113,518,212 |
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 94.80% | |
Limited partners' capital account, units outstanding | 4,162,996 | 4,220,403 |
Noncontrolling Interest | ||
Schedule of Capital Structure [Line Items] | ||
Common Shares Issuable Upon Conversion Of Convertible Stock | 4,162,996 | 4,220,403 |
Redeemable Capital Shares Par Or Stated Value Per Share | $ 90.81 | $ 97.92 |
Limited Partners' Capital Account | $ 378 | $ 413.3 |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) | 12 Months Ended | ||
Dec. 31, 2016USD ($)installment$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares | |
Defined Benefit Plan Disclosure | |||
Employer contribution for defined contribution plan | $ 2,000,000 | $ 1,000,000 | $ 900,000 |
Employee Stock Ownership Plan, common stock, shares outstanding (shares) | shares | 149,050.91 | ||
Employee Stock Ownership Plan, common stock, fair value | $ 14,600,000 | ||
Outside Directors | |||
Defined Benefit Plan Disclosure | |||
Number of deferred common stock (shares) | shares | 10,166 | 8,466 | 9,415 |
Weighted-average grant date fair values of deferred common stock (dollars per share) | $ / shares | $ 97.99 | $ 78.62 | $ 70.63 |
Nonqualified Deferred Compensation Plan | |||
Defined Benefit Plan Disclosure | |||
Deferred compensation expense | $ 96,000 | $ 106,000 | $ 82,000 |
Number of annual installments of deferred compensation (installment) | installment | 2 | ||
Number of days after departure from board of directors for payment of deferred compensation (days) | 90 days |
Legal Proceedings (Details)
Legal Proceedings (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Legal Proceedings | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 836 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 703 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 687 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 707 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 719 | |
Capital Lease Obligations, Current | 63,600 | |
Loss contingency accrual, at carrying value | $ 42,100 | $ 13,500 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Parent Company [Member] | |||
Related Party Transaction [Line Items] | |||
Management fees income | $ 0 | $ 0 | $ 154,000 |
Earnings from Discontinued Op74
Earnings from Discontinued Operations (Summary of Discontinued Operations) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following chart shows our disposition activity for the year ended December 31, 2016 : Community Market Units/Sq. Ft./Acres Date Sold McKinney (1) Dallas, Texas 30 acres February 5, 2016 Colonial Promenade Nord du Lac Covington, Louisiana 295,447 sq. ft. March 28, 2016 Colonial Promenade Nord du Lac - Outparcels Covington, Louisiana 25 acres March 28, 2016 Colonial Grand at Heathrow - Adjacent Land Parcels Orlando, Florida 11 acres April 7, 2016 Land Title Building (2) Birmingham, Alabama 29,971 sq. ft. May 23, 2016 Colonial Promenade Huntsville - Outparcel Huntsville, Alabama 1 acre June 29, 2016 CG at Autumn Park Greensboro, North Carolina 402 August 18, 2016 Corners at Crystal Lake Winston-Salem, North Carolina 240 August 18, 2016 CV at Glen Eagles Winston-Salem, North Carolina 310 August 18, 2016 CV at Mill Creek Winston-Salem, North Carolina 220 August 18, 2016 Abbington Place Huntsville, Alabama 152 September 13, 2016 CV at Stone Point Charlotte, North Carolina 192 September 13, 2016 CV at Greystone Charlotte, North Carolina 408 September 13, 2016 CV at Woodlake Raleigh/Durham, North Carolina 266 November 17, 2016 CV at Tradewinds Norfolk/Hampton/Virginia Beach, Virginia 284 November 17, 2016 CV Harbour Club Norfolk/Hampton/Virginia Beach, Virginia 213 November 17, 2016 CV Main Park Dallas, Texas 192 November 17, 2016 Lane at Towne Crossing Dallas, Texas 384 November 17, 2016 | ||||||||||
Parent Company [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following is a summary of earnings from discontinued operations for MAA and MAALP for the year ended December 31, 2014 (dollars in thousands): 2014 Revenues: Rental revenues $ 75 Other revenues 10 Total revenues 85 Expenses: Property operating expenses 74 Depreciation and amortization 42 Interest expense 32 Total expenses 148 Income from discontinued operations before gain on sale (63 ) Gain on sale of discontinued operations 5,394 Income from discontinued operations $ 5,331 | ||||||||||
Expenses | |||||||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $ 0 | $ 0 | $ 5,394 | ||||||||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 224,402 | 350,745 | 150,946 | ||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 0 | 0 | 5,331 | ||||||||
Interest Expense | $ (33,529) | $ (32,168) | $ (32,039) | $ (32,211) | $ (30,834) | $ (30,229) | $ (30,433) | $ (30,848) | 129,947 | 122,344 | 123,953 |
Loss from discontinued operations before gain on sale | 0 | 0 | (63) | ||||||||
Parent Company [Member] | Discontinued Operations [Member] | |||||||||||
Revenues | |||||||||||
Rental Revenues | 75 | ||||||||||
Other Revenue (Expense) from Real Estate Operations | 10 | ||||||||||
Total Revenues | 85 | ||||||||||
Expenses | |||||||||||
Property Operating Expenses | 74 | ||||||||||
Depreciation and amortization | 42 | ||||||||||
Total expense | 148 | ||||||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 5,394 | ||||||||||
Discontinued Operation, Gain on Disposal of Discontinued Operation, Net of Tax | 5,331 | ||||||||||
Interest Expense | 32 | ||||||||||
Loss from discontinued operations before gain on sale | (63) | ||||||||||
Continuing Operations [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Income from continuing operations attributable to MAA | 212,222 | 332,287 | 142,933 | ||||||||
Expenses | |||||||||||
Income from Continuing Operations Attributable to Noncontrolling Interest | 12,180 | 18,458 | 8,013 | ||||||||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 224,402 | 350,745 | 150,946 | ||||||||
Discontinued Operations [Member] | |||||||||||
Expenses | |||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 0 | 0 | 5,047 | ||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest | 0 | 0 | 284 | ||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $ 0 | $ 0 | $ 5,331 |
Segment Information (Textual) (
Segment Information (Textual) (Details) - 12 months ended Dec. 31, 2016 individual in Millions | Total | Property | Communities | States | individual |
Segment Reporting Information [Line Items] | |||||
Number of Real Estate Properties | 303 | 302 | |||
Number of states in which apartment units are located (states) | States | 16 | ||||
Market Population (individuals) | individual | 1 | ||||
Percentage of Total Public Multifamily REIT Units | 1.00% | ||||
Period properties owned and stabilized (months) | 12 months | ||||
Occupancy Level for Stabilized Communities | 90.00% | ||||
Period Properties Stabilized | 90 days |
Segment Information (Revenues a
Segment Information (Revenues and NOI for Reportable Segment) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Revenues | ||||||||||||
Preferred Stock Dividends, Income Statement Impact | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Parent Company [Member] | ||||||||||||
Revenues | ||||||||||||
Real Estate Revenue, Net | $ 1,125,348,000 | 1,042,779,000 | 992,178,000 | |||||||||
Management fee income | 0 | 0 | 154,000 | |||||||||
Total operating revenues | $ 307,198,000 | $ 276,898,000 | 272,236,000 | 269,016,000 | 263,337,000 | 261,998,000 | 258,891,000 | 258,552,000 | 1,125,348,000 | 1,042,779,000 | 992,332,000 | |
Net operating income | 701,992,000 | 642,134,000 | 598,814,000 | |||||||||
Discontinued operations NOI included above | 0 | 0 | 16,000 | |||||||||
Depreciation and amortization | (322,958,000) | (294,520,000) | (301,812,000) | |||||||||
Acquisition expense | (2,928,000) | (2,777,000) | (2,388,000) | |||||||||
Property management expense | (34,093,000) | (30,990,000) | (32,095,000) | |||||||||
General and administrative expense | (29,040,000) | (25,716,000) | (20,909,000) | |||||||||
Merger related expenses | (39,033,000) | 0 | (3,152,000) | |||||||||
Integration costs | (1,790,000) | 0 | (8,395,000) | |||||||||
Interest and other non-property income | 724,000 | (368,000) | 770,000 | |||||||||
Interest expense | 33,529,000 | 32,168,000 | 32,039,000 | 32,211,000 | 30,834,000 | 30,229,000 | 30,433,000 | 30,848,000 | (129,947,000) | (122,344,000) | (123,953,000) | |
Gains (Losses) on Extinguishment of Debt | (83,000) | (3,602,000) | (2,586,000) | |||||||||
Net casualty (loss) gain after insurance and other settlement proceeds | 448,000 | 473,000 | (476,000) | |||||||||
Gain on sale of depreciable real estate assets excluded from discontinued operations | 80,397,000 | 189,958,000 | 42,649,000 | |||||||||
Income tax expense | (1,699,000) | (1,673,000) | (2,050,000) | |||||||||
Gain on sale of non-depreciable real estate assets | 2,171,000 | 172,000 | 350,000 | |||||||||
Gain (loss) from real estate joint ventures | 214,000 | 0 | (101,000) | 128,000 | 3,000 | (1,000) | (23,000) | 19,000 | 241,000 | (2,000) | 6,009,000 | |
Discontinued operations | 0 | 0 | 5,331,000 | |||||||||
Net income attributable to noncontrolling interests | (2,672,000) | (4,627,000) | (2,486,000) | (2,395,000) | (2,380,000) | (5,094,000) | (7,574,000) | (3,410,000) | (12,180,000) | (18,458,000) | (8,297,000) | |
Preferred Stock Dividends, Income Statement Impact | 307,000 | 0 | (307,000) | |||||||||
Net income attributable to MAA | $ 39,079,000 | $ 84,279,000 | $ 45,144,000 | $ 43,413,000 | $ 42,987,000 | $ 91,734,000 | $ 136,299,000 | $ 61,267,000 | 211,915,000 | 332,287,000 | 147,980,000 | |
Parent Company [Member] | Large Market Same Store | ||||||||||||
Revenues | ||||||||||||
Real Estate Revenue, Net | 642,679,000 | 612,934,000 | 553,038,000 | [1] | ||||||||
Net operating income | 399,287,000 | 377,025,000 | 334,255,000 | [1] | ||||||||
Parent Company [Member] | Secondary Market Same Store | ||||||||||||
Revenues | ||||||||||||
Real Estate Revenue, Net | 337,883,000 | 327,700,000 | 310,281,000 | [1] | ||||||||
Net operating income | 212,053,000 | 204,382,000 | 190,348,000 | [1] | ||||||||
Parent Company [Member] | Non Same Store And Other | ||||||||||||
Revenues | ||||||||||||
Real Estate Revenue, Net | 144,786,000 | 102,145,000 | 128,859,000 | [1] | ||||||||
Net operating income | $ 90,652,000 | $ 60,727,000 | $ 74,211,000 | [1] | ||||||||
[1] | The 2014 column shows the segment break down based on the 2015 same store portfolios. A comparison using the 2016 same store portfolio would not be comparative due to the nature of the segment classifications. |
Segment Information (Assets for
Segment Information (Assets for Reportable Segments) (Details) - Parent Company [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Assets | $ 11,604,491 | $ 6,847,781 |
Large Market Same Store | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Assets | 3,945,122 | 4,062,595 |
Secondary Market Same Store | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Assets | 1,707,495 | 1,756,313 |
Non Same Store And Other | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Assets | 5,722,231 | 956,336 |
Corporate assets | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Assets | $ 229,643 | $ 72,537 |
Real Estate Acquisitions and 78
Real Estate Acquisitions and Dispositions Real Estate Acquisitions and Dispositions - Additional Information (Details) | Dec. 31, 2016ft²Apartments | Sep. 30, 2016ft²aApartments | Jun. 30, 2016aApartments |
Retreat at West Creek II [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Area of Land | a | 11 | ||
Colonial Promenade Craft Farms | |||
Significant Acquisitions and Disposals [Line Items] | |||
Square footage of real estate property (square foot) | ft² | 30 | ||
Area of Land | a | 295,447 | ||
River's Walk [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Area of Land | a | 25 | ||
1201 Midtown [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 302 | ||
The Denton II [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Area of Land | a | 30,000 | ||
CV at Stone Point [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 192 | ||
CG at Autumn Park [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 402 | ||
Colonial Village at Woodlake [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Square footage of real estate property (square foot) | ft² | 266 | ||
Colonial Village at Tradewinds [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Square footage of real estate property (square foot) | ft² | 284 | ||
Colonial Village at Harbour Club [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Square footage of real estate property (square foot) | ft² | 213 | ||
Colonial Village at Main Park [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Square footage of real estate property (square foot) | ft² | 192 | ||
Lane At Towne Crossing [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Square footage of real estate property (square foot) | ft² | 384 | ||
Cobblestone Square [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 314 | ||
Corners at Crystal Lake [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 240 | ||
Glen Eagles [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 310 | ||
Colonial Village at Greystone [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Square footage of real estate property (square foot) | ft² | 408 | ||
CV at Mill Creek [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 220 | ||
Abbington Place [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 152 | ||
Colonial Promenade Huntsville [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Area of Land | a | 1.30 | ||
Residences at Fountainhead [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 322 | ||
Yale at 6th [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 352 | ||
Innovation Apartment Homes [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Number of units in real estate property | 336 |
Subsequent Events (Details)
Subsequent Events (Details) $ in Thousands | Feb. 07, 2017USD ($) |
Individual Property Mortgages [Member] | Subsequent Event [Member] | Grand Cypress [Member] | |
Subsequent Event [Line Items] | |
Mortgage Loans on Real Estate | $ 15,800 |
Selected Quarterly Financial 80
Selected Quarterly Financial Information (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Preferred Stock Dividends, Income Statement Impact | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||
Limited Partner [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Total operating revenues | $ 307,198,000 | $ 276,898,000 | 272,236,000 | 269,016,000 | 263,337,000 | 261,998,000 | 258,891,000 | 258,552,000 | $ 1,125,348,000 | 1,042,779,000 | 992,332,000 |
Income from continuing operations before non-operating items | 43,857,000 | 73,790,000 | 77,794,000 | 76,709,000 | 76,763,000 | 73,138,000 | 68,837,000 | 69,393,000 | 272,150,000 | 288,131,000 | 230,233,000 |
Interest expense | (33,529,000) | (32,168,000) | (32,039,000) | (32,211,000) | (30,834,000) | (30,229,000) | (30,433,000) | (30,848,000) | (129,947,000) | (122,344,000) | (123,953,000) |
Loss from real estate joint ventures | 214,000 | 0 | (101,000) | 128,000 | 3,000 | (1,000) | (23,000) | 19,000 | 241,000 | (2,000) | 6,009,000 |
Loss from discontinued operations before gain on sale | 0 | 0 | (63,000) | ||||||||
Gain on sale of discontinued operations | 0 | 0 | 5,394,000 | ||||||||
Consolidated net income | 42,058,000 | 88,906,000 | 47,630,000 | 45,808,000 | 45,367,000 | 96,828,000 | 143,873,000 | 64,677,000 | 224,402,000 | 350,745,000 | 156,277,000 |
Preferred Stock Dividends, Income Statement Impact | 307,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $ (307,000) | $ 0 | $ 0 |
Net Income (Loss) Available to Common Unitholders | $ 41,751,000 | $ 88,906,000 | $ 47,630,000 | $ 45,808,000 | $ 45,367,000 | $ 96,828,000 | $ 143,873,000 | $ 64,677,000 | |||
Earnings per share - basic | $ 0.45 | $ 1.12 | $ 0.60 | $ 0.61 | $ 0.57 | $ 1.22 | $ 1.81 | $ 0.81 | $ 2.70 | $ 4.41 | $ 1.97 |
Earnings per share - diluted | 0.45 | 1.12 | 0.60 | 0.61 | 0.57 | 1.22 | 1.81 | 0.81 | $ 2.70 | $ 4.41 | $ 1.97 |
Distribution Made to Limited Partner, Distributions Paid, Per Unit | $ 0.82 | $ 0.82 | $ 0.82 | $ 0.82 | $ 0.77 | $ 0.77 | $ 0.77 | $ 0.77 | |||
Net Cash Provided by (Used in) Operating Activities | $ 484,039,000 | $ 463,721,000 | $ 385,378,000 | ||||||||
Increase (Decrease) in Restricted Cash | (315,000) | 2,091,000 | (8,704,000) | ||||||||
Proceeds from Stock Options Exercised | 0 | 420,000 | 12,245,000 | ||||||||
Net Cash Provided by (Used in) Investing Activities | (710,487,000) | (136,215,000) | (203,764,000) | ||||||||
Return (funding) of escrow for future acquisitions | (58,259,000) | 8,000 | 24,884,000 | ||||||||
Payments To Acquire Real Estate And Other Assets | (339,186,000) | (328,193,000) | (309,174,000) | ||||||||
Payments for Capital Improvements | (80,392,000) | (88,486,000) | (90,201,000) | ||||||||
Construction capital and other improvements | (7,338,000) | (7,848,000) | (7,998,000) | ||||||||
Renovations to Existing Real Estate Assets | (37,316,000) | (30,957,000) | (21,089,000) | ||||||||
Payments to Develop Real Estate Assets | (58,931,000) | (38,730,000) | (70,788,000) | ||||||||
Net Cash Provided by (Used in) Financing Activities | 222,425,000 | (316,600,000) | (244,294,000) | ||||||||
Parent Company [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Total operating revenues | $ 307,198,000 | $ 276,898,000 | $ 272,236,000 | $ 269,016,000 | $ 263,337,000 | $ 261,998,000 | $ 258,891,000 | $ 258,552,000 | 1,125,348,000 | 1,042,779,000 | 992,332,000 |
Income from continuing operations before non-operating items | 43,857,000 | 73,790,000 | 77,794,000 | 76,709,000 | 76,763,000 | 73,138,000 | 68,837,000 | 69,393,000 | 272,150,000 | 288,131,000 | 230,233,000 |
Interest expense | 33,529,000 | 32,168,000 | 32,039,000 | 32,211,000 | 30,834,000 | 30,229,000 | 30,433,000 | 30,848,000 | (129,947,000) | (122,344,000) | (123,953,000) |
Loss from real estate joint ventures | 214,000 | 0 | (101,000) | 128,000 | 3,000 | (1,000) | (23,000) | 19,000 | 241,000 | (2,000) | 6,009,000 |
Loss from discontinued operations before gain on sale | 0 | 0 | (63,000) | ||||||||
Gain on sale of discontinued operations | 0 | 0 | 5,394,000 | ||||||||
Consolidated net income | 42,058,000 | 88,906,000 | 47,630,000 | 45,808,000 | 45,367,000 | 96,828,000 | 143,873,000 | 64,677,000 | 224,402,000 | 350,745,000 | 156,277,000 |
Net income attributable to noncontrolling interest | 2,672,000 | 4,627,000 | 2,486,000 | 2,395,000 | 2,380,000 | 5,094,000 | 7,574,000 | 3,410,000 | 12,180,000 | 18,458,000 | 8,297,000 |
Preferred Stock Dividends, Income Statement Impact | (307,000) | 0 | 307,000 | ||||||||
Net income (loss) available for MAA common shareholders | $ 39,079,000 | $ 84,279,000 | $ 45,144,000 | $ 43,413,000 | $ 42,987,000 | $ 91,734,000 | $ 136,299,000 | $ 61,267,000 | $ 211,915,000 | $ 332,287,000 | $ 147,980,000 |
Earnings per share - basic | $ 0.44 | $ 1.12 | $ 0.60 | $ 0.58 | $ 0.57 | $ 1.22 | $ 1.81 | $ 0.81 | $ 2.69 | $ 4.41 | $ 1.97 |
Earnings per share - diluted | 0.44 | 1.12 | 0.60 | 0.58 | 0.57 | 1.22 | 1.81 | 0.81 | 2.69 | 4.41 | 1.97 |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.82 | $ 0.82 | $ 0.82 | $ 0.82 | $ 0.77 | $ 0.77 | $ 0.77 | $ 0.77 | $ 3.28 | $ 3.08 | $ 2.92 |
Net Cash Provided by (Used in) Operating Activities | $ 484,039,000 | $ 463,721,000 | $ 385,378,000 | ||||||||
Increase (Decrease) in Restricted Cash | (315,000) | 2,091,000 | (8,704,000) | ||||||||
Proceeds from Stock Options Exercised | 0 | 420,000 | 12,245,000 | ||||||||
Net Cash Provided by (Used in) Investing Activities | (710,487,000) | (136,215,000) | (203,764,000) | ||||||||
Return (funding) of escrow for future acquisitions | (58,259,000) | 8,000 | 24,884,000 | ||||||||
Payments To Acquire Real Estate And Other Assets | (339,186,000) | (328,193,000) | (309,174,000) | ||||||||
Payments for Capital Improvements | (80,392,000) | (88,486,000) | (90,201,000) | ||||||||
Construction capital and other improvements | (7,338,000) | (7,848,000) | (7,998,000) | ||||||||
Renovations to Existing Real Estate Assets | (37,316,000) | (30,957,000) | (21,089,000) | ||||||||
Payments to Develop Real Estate Assets | (58,931,000) | (38,730,000) | (70,788,000) | ||||||||
Net Cash Provided by (Used in) Financing Activities | $ 222,425,000 | $ (316,600,000) | $ (244,294,000) |
Schedule III Real Estate and 81
Schedule III Real Estate and Accumulated Depreciation (Details) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 1,001,204,000 | ||||
Initial Cost Land | 1,881,210,000 | ||||
Initial Cost Buildings and Fixtures | 9,975,217,000 | ||||
Gross Amount, Land | 1,887,472,000 | ||||
Gross Amount, Buildings and Fixtures | 11,084,698,000 | ||||
Total | 12,972,170,000 | $ 8,215,768,000 | $ 8,069,395,000 | $ 7,722,181,000 | |
Accumulated Depreciation | (1,674,801,000) | $ (1,499,213,000) | $ (1,373,678,000) | $ (1,138,315,000) | |
Net | 11,297,369,000 | ||||
Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,262,000 | ||||
Buildings and Fixtures | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,109,481,000 | ||||
Total Residential Properties | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 1,000,773,000 | ||||
Initial Cost Land | 1,705,646,000 | ||||
Initial Cost Buildings and Fixtures | 9,579,476,000 | ||||
Gross Amount, Land | 1,711,894,000 | ||||
Gross Amount, Buildings and Fixtures | 10,577,342,000 | ||||
Total | 12,289,236,000 | ||||
Accumulated Depreciation | (1,653,436,000) | ||||
Net | 10,635,800,000 | ||||
Total Residential Properties | Colonial Grand at Quarterdeck [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 920,000 | ||||
Initial Cost Buildings and Fixtures | 24,097,000 | ||||
Gross Amount, Land | 920,000 | ||||
Gross Amount, Buildings and Fixtures | 28,994,000 | ||||
Total | 29,914,000 | ||||
Accumulated Depreciation | (3,783,000) | ||||
Net | $ 26,131,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Colonial Grand at Quarterdeck [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Quarterdeck [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Westchase [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,571,000 | ||||
Initial Cost Buildings and Fixtures | 20,091,000 | ||||
Gross Amount, Land | 4,571,000 | ||||
Gross Amount, Buildings and Fixtures | 22,023,000 | ||||
Total | 26,594,000 | ||||
Accumulated Depreciation | (3,634,000) | ||||
Net | $ 22,960,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Colonial Village at Westchase [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Westchase [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | River's Walk [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,200,000 | ||||
Initial Cost Buildings and Fixtures | 28,682,000 | ||||
Gross Amount, Land | 5,200,000 | ||||
Gross Amount, Buildings and Fixtures | 28,965,000 | ||||
Total | 34,165,000 | ||||
Accumulated Depreciation | (2,314,000) | ||||
Net | $ 31,851,000 | ||||
Date of Construction | Dec. 31, 2013 | ||||
Total Residential Properties | River's Walk [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | River's Walk [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | 1201 Midtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 11,929,000 | ||||
Initial Cost Buildings and Fixtures | 57,885,000 | ||||
Gross Amount, Land | 11,929,000 | ||||
Gross Amount, Buildings and Fixtures | 57,935,000 | ||||
Total | 69,864,000 | ||||
Accumulated Depreciation | (140,000) | ||||
Net | $ 69,724,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Fairways [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 910,000 | ||||
Initial Cost Buildings and Fixtures | 8,207,000 | ||||
Gross Amount, Land | 910,000 | ||||
Gross Amount, Buildings and Fixtures | 11,437,000 | ||||
Total | 12,347,000 | ||||
Accumulated Depreciation | (7,850,000) | ||||
Net | $ 4,497,000 | ||||
Date of Construction | Dec. 31, 1992 | ||||
Total Residential Properties | Fairways [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Fairways [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Paddock Club Columbia [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,840,000 | ||||
Initial Cost Buildings and Fixtures | 16,560,000 | ||||
Gross Amount, Land | 1,840,000 | ||||
Gross Amount, Buildings and Fixtures | 20,683,000 | ||||
Total | 22,523,000 | ||||
Accumulated Depreciation | (12,692,000) | ||||
Net | $ 9,831,000 | ||||
Date of Construction | Dec. 31, 1991 | ||||
Total Residential Properties | Paddock Club Columbia [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Paddock Club Columbia [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Tanglewood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 427,000 | ||||
Initial Cost Buildings and Fixtures | 3,853,000 | ||||
Gross Amount, Land | 427,000 | ||||
Gross Amount, Buildings and Fixtures | 6,764,000 | ||||
Total | 7,191,000 | ||||
Accumulated Depreciation | (4,810,000) | ||||
Net | $ 2,381,000 | ||||
Date of Construction | Dec. 31, 1980 | ||||
Total Residential Properties | Tanglewood [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Tanglewood [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Corners [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Corners [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Birchall at Ross Bridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,640,000 | ||||
Initial Cost Buildings and Fixtures | 28,842,000 | ||||
Gross Amount, Land | 2,640,000 | ||||
Gross Amount, Buildings and Fixtures | 29,914,000 | ||||
Total | 32,554,000 | ||||
Accumulated Depreciation | (5,587,000) | ||||
Net | $ 26,967,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Birchall at Ross Bridge | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Birchall at Ross Bridge | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Riverchase Trails | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,761,000 | ||||
Initial Cost Buildings and Fixtures | 22,079,000 | ||||
Gross Amount, Land | 3,761,000 | ||||
Gross Amount, Buildings and Fixtures | 24,338,000 | ||||
Total | 28,099,000 | ||||
Accumulated Depreciation | (3,881,000) | ||||
Net | $ 24,218,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Total Residential Properties | Colonial Grand at Riverchase Trails | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Riverchase Trails | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Trussville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,402,000 | ||||
Initial Cost Buildings and Fixtures | 31,813,000 | ||||
Gross Amount, Land | 3,402,000 | ||||
Gross Amount, Buildings and Fixtures | 33,507,000 | ||||
Total | 36,909,000 | ||||
Accumulated Depreciation | (4,868,000) | ||||
Net | $ 32,041,000 | ||||
Total Residential Properties | Colonial Village at Trussville | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Trussville | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Eagle Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 851,000 | ||||
Initial Cost Buildings and Fixtures | 7,667,000 | ||||
Gross Amount, Land | 851,000 | ||||
Gross Amount, Buildings and Fixtures | 11,260,000 | ||||
Total | 12,111,000 | ||||
Accumulated Depreciation | (6,842,000) | ||||
Net | $ 5,269,000 | ||||
Date of Construction | Dec. 31, 1986 | ||||
Total Residential Properties | Eagle Ridge | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Eagle Ridge | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Traditions | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,211,000 | ||||
Initial Cost Buildings and Fixtures | 25,162,000 | ||||
Gross Amount, Land | 3,211,000 | ||||
Gross Amount, Buildings and Fixtures | 26,720,000 | ||||
Total | 29,931,000 | ||||
Accumulated Depreciation | (4,202,000) | ||||
Net | $ 25,729,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Total Residential Properties | Colonial Grand at Traditions | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Traditions | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Abbington Place [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Abbington Place [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Edgewater | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 20,472,000 | ||||
Initial Cost Land | 4,943,000 | ||||
Initial Cost Buildings and Fixtures | 38,673,000 | ||||
Gross Amount, Land | 4,943,000 | ||||
Gross Amount, Buildings and Fixtures | 42,577,000 | ||||
Total | 47,520,000 | ||||
Accumulated Depreciation | (5,669,000) | ||||
Net | $ 41,851,000 | ||||
Date of Construction | Dec. 31, 1990 | ||||
Total Residential Properties | Colonial Grand at Edgewater | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Edgewater | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Paddock Club Huntsville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 909,000 | ||||
Initial Cost Buildings and Fixtures | 10,152,000 | ||||
Gross Amount, Land | 1,739,000 | ||||
Gross Amount, Buildings and Fixtures | 23,424,000 | ||||
Total | 25,163,000 | ||||
Accumulated Depreciation | (12,467,000) | ||||
Net | $ 12,696,000 | ||||
Date of Construction | Dec. 31, 1993 | ||||
Total Residential Properties | Paddock Club Huntsville | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Paddock Club Huntsville | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Madison | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 17,028,000 | ||||
Initial Cost Land | 3,601,000 | ||||
Initial Cost Buildings and Fixtures | 28,934,000 | ||||
Gross Amount, Land | 3,601,000 | ||||
Gross Amount, Buildings and Fixtures | 30,053,000 | ||||
Total | 33,654,000 | ||||
Accumulated Depreciation | (4,488,000) | ||||
Net | $ 29,166,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Colonial Grand at Madison | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Madison | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Paddock Club Montgomery | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 965,000 | ||||
Initial Cost Buildings and Fixtures | 13,190,000 | ||||
Gross Amount, Land | 965,000 | ||||
Gross Amount, Buildings and Fixtures | 14,959,000 | ||||
Total | 15,924,000 | ||||
Accumulated Depreciation | (7,299,000) | ||||
Net | $ 8,625,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Paddock Club Montgomery | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Paddock Club Montgomery | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Cypress Village at Cypress Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,290,000 | ||||
Initial Cost Buildings and Fixtures | 12,238,000 | ||||
Gross Amount, Land | 1,290,000 | ||||
Gross Amount, Buildings and Fixtures | 12,821,000 | ||||
Total | 14,111,000 | ||||
Accumulated Depreciation | (1,861,000) | ||||
Net | $ 12,250,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Cypress Village at Cypress Village | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Cypress Village at Cypress Village | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Liberty Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 16,404,000 | ||||
Initial Cost Land | 3,922,000 | ||||
Initial Cost Buildings and Fixtures | 30,977,000 | ||||
Gross Amount, Land | 3,922,000 | ||||
Gross Amount, Buildings and Fixtures | 34,226,000 | ||||
Total | 38,148,000 | ||||
Accumulated Depreciation | (4,992,000) | ||||
Net | $ 33,156,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Colonial Grand at Liberty Park | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Liberty Park | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at OldTown Scottsdale [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,820,000 | ||||
Initial Cost Buildings and Fixtures | 51,627,000 | ||||
Gross Amount, Land | 7,820,000 | ||||
Gross Amount, Buildings and Fixtures | 55,216,000 | ||||
Total | 63,036,000 | ||||
Accumulated Depreciation | (7,643,000) | ||||
Net | $ 55,393,000 | ||||
Total Residential Properties | Colonial Grand at OldTown Scottsdale [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at OldTown Scottsdale [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Calais Forest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,026,000 | ||||
Initial Cost Buildings and Fixtures | 9,244,000 | ||||
Gross Amount, Land | 1,026,000 | ||||
Gross Amount, Buildings and Fixtures | 16,686,000 | ||||
Total | 17,712,000 | ||||
Accumulated Depreciation | (10,657,000) | ||||
Net | $ 7,055,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Calais Forest [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Calais Forest [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | SkySong [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 0 | ||||
Initial Cost Buildings and Fixtures | 55,748,000 | ||||
Gross Amount, Land | 0 | ||||
Gross Amount, Buildings and Fixtures | 56,357,000 | ||||
Total | 56,357,000 | ||||
Accumulated Depreciation | (2,310,000) | ||||
Net | $ 54,047,000 | ||||
Date of Construction | Dec. 31, 2014 | ||||
Total Residential Properties | SkySong [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | SkySong [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Napa Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 960,000 | ||||
Initial Cost Buildings and Fixtures | 8,642,000 | ||||
Gross Amount, Land | 960,000 | ||||
Gross Amount, Buildings and Fixtures | 13,475,000 | ||||
Total | 14,435,000 | ||||
Accumulated Depreciation | (8,507,000) | ||||
Net | $ 5,928,000 | ||||
Date of Construction | Dec. 31, 1984 | ||||
Total Residential Properties | Napa Valley [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Napa Valley [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Palisades At Chenal Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,560,000 | ||||
Initial Cost Buildings and Fixtures | 25,234,000 | ||||
Gross Amount, Land | 2,560,000 | ||||
Gross Amount, Buildings and Fixtures | 28,175,000 | ||||
Total | 30,735,000 | ||||
Accumulated Depreciation | (5,145,000) | ||||
Net | $ 25,590,000 | ||||
Date of Construction | Dec. 31, 2006 | ||||
Total Residential Properties | Palisades At Chenal Valley [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Palisades At Chenal Valley [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Ridge at Chenal Valley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,626,000 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 2,626,000 | ||||
Gross Amount, Buildings and Fixtures | 27,222,000 | ||||
Total | 29,848,000 | ||||
Accumulated Depreciation | (3,130,000) | ||||
Net | $ 26,718,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Total Residential Properties | Ridge at Chenal Valley | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Ridge at Chenal Valley | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Westside Creek I & II | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 1,271,000 | ||||
Initial Cost Buildings and Fixtures | 11,463,000 | ||||
Gross Amount, Land | 1,271,000 | ||||
Gross Amount, Buildings and Fixtures | 19,017,000 | ||||
Total | 20,288,000 | ||||
Accumulated Depreciation | (11,244,000) | ||||
Net | $ 9,044,000 | ||||
Total Residential Properties | Westside Creek I & II | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Westside Creek I & II | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Edge at Lyon's Gate | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,901,000 | ||||
Initial Cost Buildings and Fixtures | 27,182,000 | ||||
Gross Amount, Land | 7,901,000 | ||||
Gross Amount, Buildings and Fixtures | 29,073,000 | ||||
Total | 36,974,000 | ||||
Accumulated Depreciation | (8,483,000) | ||||
Net | $ 28,491,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Total Residential Properties | Edge at Lyon's Gate | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Edge at Lyon's Gate | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Residences at Fountainhead [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 12,212,000 | ||||
Initial Cost Buildings and Fixtures | 56,705,000 | ||||
Gross Amount, Land | 12,212,000 | ||||
Gross Amount, Buildings and Fixtures | 57,271,000 | ||||
Total | 69,483,000 | ||||
Accumulated Depreciation | (875,000) | ||||
Net | $ 68,608,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Sky View Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,668,000 | ||||
Initial Cost Buildings and Fixtures | 14,577,000 | ||||
Gross Amount, Land | 2,668,000 | ||||
Gross Amount, Buildings and Fixtures | 16,409,000 | ||||
Total | 19,077,000 | ||||
Accumulated Depreciation | (4,413,000) | ||||
Net | $ 14,664,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Total Residential Properties | Sky View Ranch | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Sky View Ranch | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Talus Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 12,741,000 | ||||
Initial Cost Buildings and Fixtures | 47,701,000 | ||||
Gross Amount, Land | 12,741,000 | ||||
Gross Amount, Buildings and Fixtures | 49,854,000 | ||||
Total | 62,595,000 | ||||
Accumulated Depreciation | (17,449,000) | ||||
Net | $ 45,146,000 | ||||
Date of Construction | Dec. 31, 2005 | ||||
Total Residential Properties | Talus Ranch | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Talus Ranch | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Inverness Commons | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,219,000 | ||||
Initial Cost Buildings and Fixtures | 26,255,000 | ||||
Gross Amount, Land | 4,219,000 | ||||
Gross Amount, Buildings and Fixtures | 27,466,000 | ||||
Total | 31,685,000 | ||||
Accumulated Depreciation | (3,931,000) | ||||
Net | $ 27,754,000 | ||||
Date of Construction | Dec. 31, 2002 | ||||
Total Residential Properties | Colonial Grand at Inverness Commons | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Inverness Commons | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Scottsdale | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,612,000 | ||||
Initial Cost Buildings and Fixtures | 20,273,000 | ||||
Gross Amount, Land | 3,612,000 | ||||
Gross Amount, Buildings and Fixtures | 21,933,000 | ||||
Total | 25,545,000 | ||||
Accumulated Depreciation | (3,137,000) | ||||
Net | $ 22,408,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Colonial Grand at Scottsdale | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Scottsdale | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Tiffany Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 1,024,000 | ||||
Initial Cost Buildings and Fixtures | 9,219,000 | ||||
Gross Amount, Land | 1,024,000 | ||||
Gross Amount, Buildings and Fixtures | 13,890,000 | ||||
Total | 14,914,000 | ||||
Accumulated Depreciation | (9,016,000) | ||||
Net | $ 5,898,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Tiffany Oaks | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Tiffany Oaks | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Indigo Point | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,167,000 | ||||
Initial Cost Buildings and Fixtures | 10,500,000 | ||||
Gross Amount, Land | 1,167,000 | ||||
Gross Amount, Buildings and Fixtures | 13,719,000 | ||||
Total | 14,886,000 | ||||
Accumulated Depreciation | (7,929,000) | ||||
Net | $ 6,957,000 | ||||
Date of Construction | Dec. 31, 1989 | ||||
Total Residential Properties | Indigo Point | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Indigo Point | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Paddock Club Brandon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,896,000 | ||||
Initial Cost Buildings and Fixtures | 26,111,000 | ||||
Gross Amount, Land | 2,896,000 | ||||
Gross Amount, Buildings and Fixtures | 31,334,000 | ||||
Total | 34,230,000 | ||||
Accumulated Depreciation | (17,961,000) | ||||
Net | $ 16,269,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Total Residential Properties | Paddock Club Brandon | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Paddock Club Brandon | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Lakewood Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,980,000 | ||||
Initial Cost Buildings and Fixtures | 40,230,000 | ||||
Gross Amount, Land | 2,980,000 | ||||
Gross Amount, Buildings and Fixtures | 42,745,000 | ||||
Total | 45,725,000 | ||||
Accumulated Depreciation | (5,885,000) | ||||
Net | $ 39,840,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Colonial Grand at Lakewood Ranch | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Lakewood Ranch | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Preserve at Coral Square | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 9,600,000 | ||||
Initial Cost Buildings and Fixtures | 40,004,000 | ||||
Gross Amount, Land | 9,600,000 | ||||
Gross Amount, Buildings and Fixtures | 48,577,000 | ||||
Total | 58,177,000 | ||||
Accumulated Depreciation | (20,516,000) | ||||
Net | $ 37,661,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Preserve at Coral Square | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Preserve at Coral Square | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Paddock Club Gainesville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,800,000 | ||||
Initial Cost Buildings and Fixtures | 15,879,000 | ||||
Gross Amount, Land | 1,800,000 | ||||
Gross Amount, Buildings and Fixtures | 20,174,000 | ||||
Total | 21,974,000 | ||||
Accumulated Depreciation | (8,645,000) | ||||
Net | $ 13,329,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Paddock Club Gainesville | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Paddock Club Gainesville | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | The Retreat at Magnolia Parke | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,040,000 | ||||
Initial Cost Buildings and Fixtures | 16,338,000 | ||||
Gross Amount, Land | 2,040,000 | ||||
Gross Amount, Buildings and Fixtures | 16,842,000 | ||||
Total | 18,882,000 | ||||
Accumulated Depreciation | (3,299,000) | ||||
Net | $ 15,583,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | The Retreat at Magnolia Parke | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | The Retreat at Magnolia Parke | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Heathrow | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 20,310,000 | ||||
Initial Cost Land | 4,101,000 | ||||
Initial Cost Buildings and Fixtures | 35,684,000 | ||||
Gross Amount, Land | 4,101,000 | ||||
Gross Amount, Buildings and Fixtures | 37,756,000 | ||||
Total | 41,857,000 | ||||
Accumulated Depreciation | (5,448,000) | ||||
Net | $ 36,409,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Colonial Grand at Heathrow | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Heathrow | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Atlantic Crossing | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,000,000 | ||||
Initial Cost Buildings and Fixtures | 19,495,000 | ||||
Gross Amount, Land | 4,000,000 | ||||
Gross Amount, Buildings and Fixtures | 20,888,000 | ||||
Total | 24,888,000 | ||||
Accumulated Depreciation | (4,246,000) | ||||
Net | $ 20,642,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Atlantic Crossing | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Atlantic Crossing | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Cooper's Hawk | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 854,000 | ||||
Initial Cost Buildings and Fixtures | 7,500,000 | ||||
Gross Amount, Land | 854,000 | ||||
Gross Amount, Buildings and Fixtures | 10,750,000 | ||||
Total | 11,604,000 | ||||
Accumulated Depreciation | (7,460,000) | ||||
Net | $ 4,144,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Cooper's Hawk | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Cooper's Hawk | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Hunter's Ridge at Deerwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,533,000 | ||||
Initial Cost Buildings and Fixtures | 13,835,000 | ||||
Gross Amount, Land | 1,533,000 | ||||
Gross Amount, Buildings and Fixtures | 18,956,000 | ||||
Total | 20,489,000 | ||||
Accumulated Depreciation | (11,640,000) | ||||
Net | $ 8,849,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Hunter's Ridge at Deerwood | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Hunter's Ridge at Deerwood | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Lakeside | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,430,000 | ||||
Initial Cost Buildings and Fixtures | 12,883,000 | ||||
Gross Amount, Land | 1,430,000 | ||||
Gross Amount, Buildings and Fixtures | 20,224,000 | ||||
Total | 21,654,000 | ||||
Accumulated Depreciation | (14,045,000) | ||||
Net | $ 7,609,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Lakeside | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Lakeside | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Lighthouse at Fleming Island | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 4,047,000 | ||||
Initial Cost Buildings and Fixtures | 35,052,000 | ||||
Gross Amount, Land | 4,047,000 | ||||
Gross Amount, Buildings and Fixtures | 39,821,000 | ||||
Total | 43,868,000 | ||||
Accumulated Depreciation | (17,929,000) | ||||
Net | $ 25,939,000 | ||||
Date of Construction | Dec. 31, 2003 | ||||
Total Residential Properties | Lighthouse at Fleming Island | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Lighthouse at Fleming Island | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Paddock Club Mandarin | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,411,000 | ||||
Initial Cost Buildings and Fixtures | 14,967,000 | ||||
Gross Amount, Land | 1,411,000 | ||||
Gross Amount, Buildings and Fixtures | 17,349,000 | ||||
Total | 18,760,000 | ||||
Accumulated Depreciation | (8,381,000) | ||||
Net | $ 10,379,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Total Residential Properties | Paddock Club Mandarin | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Paddock Club Mandarin | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | St Augustine | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,857,000 | ||||
Initial Cost Buildings and Fixtures | 6,475,000 | ||||
Gross Amount, Land | 2,857,000 | ||||
Gross Amount, Buildings and Fixtures | 25,915,000 | ||||
Total | 28,772,000 | ||||
Accumulated Depreciation | (11,487,000) | ||||
Net | $ 17,285,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | St Augustine | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | St Augustine | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | St Augustine II | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 0 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 0 | ||||
Gross Amount, Buildings and Fixtures | 0 | ||||
Total | 0 | ||||
Accumulated Depreciation | 0 | ||||
Net | $ 0 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | St Augustine II | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | St Augustine II | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Tattersall at Tapestry Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,417,000 | ||||
Initial Cost Buildings and Fixtures | 36,069,000 | ||||
Gross Amount, Land | 6,417,000 | ||||
Gross Amount, Buildings and Fixtures | 36,928,000 | ||||
Total | 43,345,000 | ||||
Accumulated Depreciation | (7,033,000) | ||||
Net | $ 36,312,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Tattersall at Tapestry Park | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Tattersall at Tapestry Park | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Woodhollow | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,686,000 | ||||
Initial Cost Buildings and Fixtures | 15,179,000 | ||||
Gross Amount, Land | 1,678,000 | ||||
Gross Amount, Buildings and Fixtures | 23,535,000 | ||||
Total | 25,213,000 | ||||
Accumulated Depreciation | (15,203,000) | ||||
Net | $ 10,010,000 | ||||
Date of Construction | Dec. 31, 1986 | ||||
Total Residential Properties | Woodhollow | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Woodhollow | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Paddock Club Lakeland | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,221,000 | ||||
Initial Cost Buildings and Fixtures | 20,452,000 | ||||
Gross Amount, Land | 1,221,000 | ||||
Gross Amount, Buildings and Fixtures | 27,899,000 | ||||
Total | 29,120,000 | ||||
Accumulated Depreciation | (17,072,000) | ||||
Net | $ 12,048,000 | ||||
Total Residential Properties | Paddock Club Lakeland | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Paddock Club Lakeland | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Lake Mary | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,346,000 | ||||
Initial Cost Buildings and Fixtures | 41,539,000 | ||||
Gross Amount, Land | 6,346,000 | ||||
Gross Amount, Buildings and Fixtures | 64,472,000 | ||||
Total | 70,818,000 | ||||
Accumulated Depreciation | (7,171,000) | ||||
Net | $ 63,647,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Total Residential Properties | Colonial Grand at Lake Mary | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Lake Mary | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Town Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 36,208,000 | ||||
Initial Cost Land | 5,742,000 | ||||
Initial Cost Buildings and Fixtures | 56,562,000 | ||||
Gross Amount, Land | 5,742,000 | ||||
Gross Amount, Buildings and Fixtures | 58,903,000 | ||||
Total | 64,645,000 | ||||
Accumulated Depreciation | (8,810,000) | ||||
Net | $ 55,835,000 | ||||
Date of Construction | Dec. 31, 2005 | ||||
Total Residential Properties | Colonial Grand at Town Park | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Town Park | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Town Park Reserve | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,481,000 | ||||
Initial Cost Buildings and Fixtures | 10,311,000 | ||||
Gross Amount, Land | 3,481,000 | ||||
Gross Amount, Buildings and Fixtures | 10,585,000 | ||||
Total | 14,066,000 | ||||
Accumulated Depreciation | (1,610,000) | ||||
Net | $ 12,456,000 | ||||
Date of Construction | Dec. 31, 2004 | ||||
Total Residential Properties | Colonial Grand at Town Park Reserve | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Town Park Reserve | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Retreat at Lake Nona | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,880,000 | ||||
Initial Cost Buildings and Fixtures | 41,175,000 | ||||
Gross Amount, Land | 7,880,000 | ||||
Gross Amount, Buildings and Fixtures | 43,659,000 | ||||
Total | 51,539,000 | ||||
Accumulated Depreciation | (6,803,000) | ||||
Net | $ 44,736,000 | ||||
Date of Construction | Dec. 31, 2006 | ||||
Total Residential Properties | Retreat at Lake Nona | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Retreat at Lake Nona | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Heather Glen | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,662,000 | ||||
Initial Cost Buildings and Fixtures | 56,988,000 | ||||
Gross Amount, Land | 4,662,000 | ||||
Gross Amount, Buildings and Fixtures | 60,461,000 | ||||
Total | 65,123,000 | ||||
Accumulated Depreciation | (8,260,000) | ||||
Net | $ 56,863,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Colonial Grand at Heather Glen | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Heather Glen | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | The Club at Panama Beach | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 898,000 | ||||
Initial Cost Buildings and Fixtures | 14,276,000 | ||||
Gross Amount, Land | 893,000 | ||||
Gross Amount, Buildings and Fixtures | 17,752,000 | ||||
Total | 18,645,000 | ||||
Accumulated Depreciation | (9,179,000) | ||||
Net | $ 9,466,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | The Club at Panama Beach | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | The Club at Panama Beach | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Twin Lakes | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 23,691,000 | ||||
Initial Cost Land | 3,091,000 | ||||
Initial Cost Buildings and Fixtures | 47,793,000 | ||||
Gross Amount, Land | 3,091,000 | ||||
Gross Amount, Buildings and Fixtures | 49,118,000 | ||||
Total | 52,209,000 | ||||
Accumulated Depreciation | (7,053,000) | ||||
Net | $ 45,156,000 | ||||
Date of Construction | Dec. 31, 2005 | ||||
Total Residential Properties | Colonial Village at Twin Lakes | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Twin Lakes | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Paddock Club Tallahassee | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 530,000 | ||||
Initial Cost Buildings and Fixtures | 4,805,000 | ||||
Gross Amount, Land | 1,480,000 | ||||
Gross Amount, Buildings and Fixtures | 18,884,000 | ||||
Total | 20,364,000 | ||||
Accumulated Depreciation | (11,387,000) | ||||
Net | $ 8,977,000 | ||||
Date of Construction | Dec. 31, 1992 | ||||
Total Residential Properties | Paddock Club Tallahassee | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Paddock Club Tallahassee | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Verandas at Southwood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,600,000 | ||||
Initial Cost Buildings and Fixtures | 25,914,000 | ||||
Gross Amount, Land | 3,600,000 | ||||
Gross Amount, Buildings and Fixtures | 26,390,000 | ||||
Total | 29,990,000 | ||||
Accumulated Depreciation | (2,217,000) | ||||
Net | $ 27,773,000 | ||||
Date of Construction | Dec. 31, 2003 | ||||
Total Residential Properties | Verandas at Southwood [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Verandas at Southwood [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Belmere | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 852,000 | ||||
Initial Cost Buildings and Fixtures | 7,667,000 | ||||
Gross Amount, Land | 852,000 | ||||
Gross Amount, Buildings and Fixtures | 13,321,000 | ||||
Total | 14,173,000 | ||||
Accumulated Depreciation | (9,259,000) | ||||
Net | $ 4,914,000 | ||||
Date of Construction | Dec. 31, 1984 | ||||
Total Residential Properties | Belmere | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Belmere | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Links at Carrollwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 817,000 | ||||
Initial Cost Buildings and Fixtures | 7,355,000 | ||||
Cost Capitalized subsequent to Acquisition | 4,887,000 | ||||
Gross Amount, Land | 927,000 | ||||
Gross Amount, Buildings and Fixtures | 12,242,000 | ||||
Total | 13,169,000 | ||||
Accumulated Depreciation | (7,431,000) | ||||
Net | $ 5,738,000 | ||||
Date of Construction | Dec. 31, 1980 | ||||
Total Residential Properties | Links at Carrollwood | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Links at Carrollwood | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Post Bay at Rocky Point [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,550,000 | ||||
Initial Cost Buildings and Fixtures | 28,437,000 | ||||
Cost Capitalized subsequent to Acquisition | 24,000 | ||||
Gross Amount, Land | 4,550,000 | ||||
Gross Amount, Buildings and Fixtures | 28,461,000 | ||||
Total | 33,011,000 | ||||
Accumulated Depreciation | (90,000) | ||||
Net | $ 32,921,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Post Harbour Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 16,329,000 | ||||
Initial Cost Buildings and Fixtures | 116,412,000 | ||||
Cost Capitalized subsequent to Acquisition | 87,000 | ||||
Gross Amount, Land | 16,329,000 | ||||
Gross Amount, Buildings and Fixtures | 116,499,000 | ||||
Total | 132,828,000 | ||||
Accumulated Depreciation | (401,000) | ||||
Net | $ 132,427,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Post Hyde Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 42,807,000 | ||||
Initial Cost Land | 16,925,000 | ||||
Initial Cost Buildings and Fixtures | 95,441,000 | ||||
Cost Capitalized subsequent to Acquisition | 84,000 | ||||
Gross Amount, Land | 16,925,000 | ||||
Gross Amount, Buildings and Fixtures | 95,525,000 | ||||
Total | 112,450,000 | ||||
Accumulated Depreciation | (330,000) | ||||
Net | $ 112,120,000 | ||||
Date of Construction | Dec. 31, 1994 | ||||
Total Residential Properties | Post Rocky Point [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 35,331,000 | ||||
Initial Cost Buildings and Fixtures | 153,397,000 | ||||
Cost Capitalized subsequent to Acquisition | 137,000 | ||||
Gross Amount, Land | 35,331,000 | ||||
Gross Amount, Buildings and Fixtures | 153,534,000 | ||||
Total | 188,865,000 | ||||
Accumulated Depreciation | (502,000) | ||||
Net | 188,363,000 | ||||
Total Residential Properties | Post Soho Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 5,201,000 | ||||
Initial Cost Buildings and Fixtures | 56,397,000 | ||||
Cost Capitalized subsequent to Acquisition | 38,000 | ||||
Gross Amount, Land | 5,201,000 | ||||
Gross Amount, Buildings and Fixtures | 56,435,000 | ||||
Total | 61,636,000 | ||||
Accumulated Depreciation | (215,000) | ||||
Net | $ 61,421,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Total Residential Properties | Village Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 2,738,000 | ||||
Initial Cost Buildings and Fixtures | 19,055,000 | ||||
Gross Amount, Land | 2,891,000 | ||||
Gross Amount, Buildings and Fixtures | 21,240,000 | ||||
Total | 24,131,000 | ||||
Accumulated Depreciation | (6,126,000) | ||||
Net | $ 18,005,000 | ||||
Date of Construction | Dec. 31, 2005 | ||||
Total Residential Properties | Village Oaks | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Village Oaks | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Hampton Preserve | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,233,000 | ||||
Initial Cost Buildings and Fixtures | 69,535,000 | ||||
Gross Amount, Land | 6,233,000 | ||||
Gross Amount, Buildings and Fixtures | 70,516,000 | ||||
Total | 76,749,000 | ||||
Accumulated Depreciation | (9,408,000) | ||||
Net | $ 67,341,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Total Residential Properties | Colonial Grand at Hampton Preserve | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Hampton Preserve | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Seven Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 25,015,000 | ||||
Initial Cost Land | 3,051,000 | ||||
Initial Cost Buildings and Fixtures | 42,768,000 | ||||
Gross Amount, Land | 3,051,000 | ||||
Gross Amount, Buildings and Fixtures | 44,074,000 | ||||
Total | 47,125,000 | ||||
Accumulated Depreciation | (5,931,000) | ||||
Net | $ 41,194,000 | ||||
Date of Construction | Dec. 31, 2004 | ||||
Total Residential Properties | Colonial Grand at Seven Oaks | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Seven Oaks | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Windermere | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,711,000 | ||||
Initial Cost Buildings and Fixtures | 36,710,000 | ||||
Gross Amount, Land | 2,711,000 | ||||
Gross Amount, Buildings and Fixtures | 37,554,000 | ||||
Total | 40,265,000 | ||||
Accumulated Depreciation | (4,930,000) | ||||
Net | $ 35,335,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Colonial Grand at Windermere | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Windermere | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Park Crest At Innisbrook | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 27,805,000 | ||||
Initial Cost Land | 6,900,000 | ||||
Initial Cost Buildings and Fixtures | 26,613,000 | ||||
Gross Amount, Land | 6,900,000 | ||||
Gross Amount, Buildings and Fixtures | 28,188,000 | ||||
Total | 35,088,000 | ||||
Accumulated Depreciation | (7,835,000) | ||||
Net | $ 27,253,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Park Crest At Innisbrook | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Park Crest At Innisbrook | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Allure at Brookwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 11,168,000 | ||||
Initial Cost Buildings and Fixtures | 52,758,000 | ||||
Gross Amount, Land | 11,168,000 | ||||
Gross Amount, Buildings and Fixtures | 56,420,000 | ||||
Total | 67,588,000 | ||||
Accumulated Depreciation | (8,811,000) | ||||
Net | $ 58,777,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Allure at Brookwood | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Allure at Brookwood | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Allure in Buckhead Village Residential | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 8,633,000 | ||||
Initial Cost Buildings and Fixtures | 19,844,000 | ||||
Gross Amount, Land | 8,633,000 | ||||
Gross Amount, Buildings and Fixtures | 25,469,000 | ||||
Total | 34,102,000 | ||||
Accumulated Depreciation | (4,603,000) | ||||
Net | $ 29,499,000 | ||||
Date of Construction | Dec. 31, 2002 | ||||
Total Residential Properties | Allure in Buckhead Village Residential | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Allure in Buckhead Village Residential | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | The High Rise at Post Alexander [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 8,452,000 | ||||
Initial Cost Buildings and Fixtures | 92,440,000 | ||||
Gross Amount, Land | 8,452,000 | ||||
Gross Amount, Buildings and Fixtures | 92,562,000 | ||||
Total | 101,014,000 | ||||
Accumulated Depreciation | (450,000) | ||||
Net | $ 100,564,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Post Alexander [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 15,471,000 | ||||
Initial Cost Buildings and Fixtures | 73,418,000 | ||||
Gross Amount, Land | 15,471,000 | ||||
Gross Amount, Buildings and Fixtures | 73,482,000 | ||||
Total | 88,953,000 | ||||
Accumulated Depreciation | (237,000) | ||||
Net | $ 88,716,000 | ||||
Date of Construction | Dec. 31, 2006 | ||||
Total Residential Properties | Post Briarcliff [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 55,365,000 | ||||
Initial Cost Land | 24,694,000 | ||||
Initial Cost Buildings and Fixtures | 115,145,000 | ||||
Gross Amount, Land | 24,694,000 | ||||
Gross Amount, Buildings and Fixtures | 115,248,000 | ||||
Total | 139,942,000 | ||||
Accumulated Depreciation | (359,000) | ||||
Net | $ 139,583,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Brookhaven [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 29,106,000 | ||||
Initial Cost Buildings and Fixtures | 106,666,000 | ||||
Gross Amount, Land | 29,106,000 | ||||
Gross Amount, Buildings and Fixtures | 106,773,000 | ||||
Total | 135,879,000 | ||||
Accumulated Depreciation | (361,000) | ||||
Net | 135,518,000 | ||||
Total Residential Properties | Post Chastain [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 30,284,000 | ||||
Initial Cost Buildings and Fixtures | 83,125,000 | ||||
Gross Amount, Land | 30,284,000 | ||||
Gross Amount, Buildings and Fixtures | 83,208,000 | ||||
Total | 113,492,000 | ||||
Accumulated Depreciation | (258,000) | ||||
Net | $ 113,234,000 | ||||
Date of Construction | Dec. 31, 1990 | ||||
Total Residential Properties | Post Crossing [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 24,858,000 | ||||
Initial Cost Land | 15,831,000 | ||||
Initial Cost Buildings and Fixtures | 48,147,000 | ||||
Gross Amount, Land | 15,831,000 | ||||
Gross Amount, Buildings and Fixtures | 48,203,000 | ||||
Total | 64,034,000 | ||||
Accumulated Depreciation | (157,000) | ||||
Net | $ 63,877,000 | ||||
Date of Construction | Dec. 31, 1995 | ||||
Total Residential Properties | Post Gardens [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 17,943,000 | ||||
Initial Cost Buildings and Fixtures | 56,198,000 | ||||
Gross Amount, Land | 17,943,000 | ||||
Gross Amount, Buildings and Fixtures | 56,300,000 | ||||
Total | 74,243,000 | ||||
Accumulated Depreciation | (194,000) | ||||
Net | $ 74,049,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Glen [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 25,825,000 | ||||
Initial Cost Land | 13,906,000 | ||||
Initial Cost Buildings and Fixtures | 51,178,000 | ||||
Gross Amount, Land | 13,906,000 | ||||
Gross Amount, Buildings and Fixtures | 51,240,000 | ||||
Total | 65,146,000 | ||||
Accumulated Depreciation | (162,000) | ||||
Net | $ 64,984,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Sanctuary At Oglethorpe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,875,000 | ||||
Initial Cost Buildings and Fixtures | 31,441,000 | ||||
Gross Amount, Land | 6,875,000 | ||||
Gross Amount, Buildings and Fixtures | 35,386,000 | ||||
Total | 42,261,000 | ||||
Accumulated Depreciation | (10,954,000) | ||||
Net | $ 31,307,000 | ||||
Date of Construction | Dec. 31, 1994 | ||||
Total Residential Properties | Sanctuary At Oglethorpe [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Sanctuary At Oglethorpe [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Terraces at Fieldstone | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,284,000 | ||||
Initial Cost Buildings and Fixtures | 15,819,000 | ||||
Gross Amount, Land | 1,284,000 | ||||
Gross Amount, Buildings and Fixtures | 18,283,000 | ||||
Total | 19,567,000 | ||||
Accumulated Depreciation | (8,518,000) | ||||
Net | $ 11,049,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Terraces at Fieldstone | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Terraces at Fieldstone | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Prescott | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,840,000 | ||||
Initial Cost Buildings and Fixtures | 24,011,000 | ||||
Gross Amount, Land | 3,840,000 | ||||
Gross Amount, Buildings and Fixtures | 27,227,000 | ||||
Total | 31,067,000 | ||||
Accumulated Depreciation | (11,318,000) | ||||
Net | $ 19,749,000 | ||||
Date of Construction | Dec. 31, 2001 | ||||
Total Residential Properties | Prescott | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Prescott | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Berkeley Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,960,000 | ||||
Initial Cost Buildings and Fixtures | 15,707,000 | ||||
Gross Amount, Land | 1,960,000 | ||||
Gross Amount, Buildings and Fixtures | 17,088,000 | ||||
Total | 19,048,000 | ||||
Accumulated Depreciation | (2,839,000) | ||||
Net | $ 16,209,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Total Residential Properties | Colonial Grand at Berkeley Lake | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Berkeley Lake | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Lake Lanier Club I [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,560,000 | ||||
Initial Cost Buildings and Fixtures | 22,611,000 | ||||
Gross Amount, Land | 3,560,000 | ||||
Gross Amount, Buildings and Fixtures | 27,056,000 | ||||
Total | 30,616,000 | ||||
Accumulated Depreciation | (10,877,000) | ||||
Net | $ 19,739,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Total Residential Properties | Lake Lanier Club I [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Lake Lanier Club I [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at River Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 15,114,000 | ||||
Initial Cost Land | 4,360,000 | ||||
Initial Cost Buildings and Fixtures | 13,579,000 | ||||
Gross Amount, Land | 4,360,000 | ||||
Gross Amount, Buildings and Fixtures | 14,954,000 | ||||
Total | 19,314,000 | ||||
Accumulated Depreciation | (3,126,000) | ||||
Net | $ 16,188,000 | ||||
Date of Construction | Dec. 31, 1992 | ||||
Total Residential Properties | Colonial Grand at River Oaks | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at River Oaks | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Lake Lanier Club II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,150,000 | ||||
Initial Cost Buildings and Fixtures | 18,383,000 | ||||
Gross Amount, Land | 3,150,000 | ||||
Gross Amount, Buildings and Fixtures | 20,534,000 | ||||
Total | 23,684,000 | ||||
Accumulated Depreciation | (8,116,000) | ||||
Net | $ 15,568,000 | ||||
Date of Construction | Dec. 31, 2001 | ||||
Total Residential Properties | Lake Lanier Club II [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Lake Lanier Club II [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at River Plantation | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,059,000 | ||||
Initial Cost Buildings and Fixtures | 19,158,000 | ||||
Gross Amount, Land | 2,059,000 | ||||
Gross Amount, Buildings and Fixtures | 20,683,000 | ||||
Total | 22,742,000 | ||||
Accumulated Depreciation | (3,427,000) | ||||
Net | $ 19,315,000 | ||||
Date of Construction | Dec. 31, 1994 | ||||
Total Residential Properties | Colonial Grand at River Plantation | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at River Plantation | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at McDaniel Farm | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,985,000 | ||||
Initial Cost Buildings and Fixtures | 32,206,000 | ||||
Gross Amount, Land | 3,985,000 | ||||
Gross Amount, Buildings and Fixtures | 34,916,000 | ||||
Total | 38,901,000 | ||||
Accumulated Depreciation | (5,734,000) | ||||
Net | $ 33,167,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Colonial Grand at McDaniel Farm | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at McDaniel Farm | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Pleasant Hill | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,753,000 | ||||
Initial Cost Buildings and Fixtures | 32,202,000 | ||||
Gross Amount, Land | 6,753,000 | ||||
Gross Amount, Buildings and Fixtures | 34,879,000 | ||||
Total | 41,632,000 | ||||
Accumulated Depreciation | (5,553,000) | ||||
Net | $ 36,079,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Colonial Grand at Pleasant Hill | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Pleasant Hill | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Mount Vernon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [2] | $ 15,430,000 | |||
Initial Cost Land | 6,861,000 | ||||
Initial Cost Buildings and Fixtures | 23,748,000 | ||||
Gross Amount, Land | 6,861,000 | ||||
Gross Amount, Buildings and Fixtures | 25,870,000 | ||||
Total | 32,731,000 | ||||
Accumulated Depreciation | (3,498,000) | ||||
Net | $ 29,233,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Colonial Grand at Mount Vernon | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Mount Vernon | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Shiloh | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 29,518,000 | ||||
Initial Cost Land | 4,864,000 | ||||
Initial Cost Buildings and Fixtures | 45,893,000 | ||||
Gross Amount, Land | 4,864,000 | ||||
Gross Amount, Buildings and Fixtures | 48,347,000 | ||||
Total | 53,211,000 | ||||
Accumulated Depreciation | (7,224,000) | ||||
Net | $ 45,987,000 | ||||
Date of Construction | Dec. 31, 2002 | ||||
Total Residential Properties | Colonial Grand at Shiloh | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Shiloh | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Milstead Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,100,000 | ||||
Initial Cost Buildings and Fixtures | 29,240,000 | ||||
Gross Amount, Land | 3,100,000 | ||||
Gross Amount, Buildings and Fixtures | 29,698,000 | ||||
Total | 32,798,000 | ||||
Accumulated Depreciation | (4,135,000) | ||||
Net | $ 28,663,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Total Residential Properties | Milstead Village | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Milstead Village | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Barrett Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 22,146,000 | ||||
Initial Cost Land | 5,661,000 | ||||
Initial Cost Buildings and Fixtures | 26,186,000 | ||||
Gross Amount, Land | 5,661,000 | ||||
Gross Amount, Buildings and Fixtures | 28,049,000 | ||||
Total | 33,710,000 | ||||
Accumulated Depreciation | (4,713,000) | ||||
Net | $ 28,997,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Colonial Grand at Barrett Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Barrett Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Godley Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 11,213,000 | ||||
Initial Cost Land | 1,800,000 | ||||
Initial Cost Buildings and Fixtures | 35,454,000 | ||||
Gross Amount, Land | 1,800,000 | ||||
Gross Amount, Buildings and Fixtures | 37,238,000 | ||||
Total | 39,038,000 | ||||
Accumulated Depreciation | (5,079,000) | ||||
Net | $ 33,959,000 | ||||
Date of Construction | Dec. 31, 2001 | ||||
Total Residential Properties | Colonial Grand at Godley Station | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Godley Station | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Godley Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,750,000 | ||||
Initial Cost Buildings and Fixtures | 30,893,000 | ||||
Gross Amount, Land | 1,750,000 | ||||
Gross Amount, Buildings and Fixtures | 31,746,000 | ||||
Total | 33,496,000 | ||||
Accumulated Depreciation | (4,563,000) | ||||
Net | $ 28,933,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Colonial Village at Godley Lake | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Godley Lake | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Avala at Savannah Quarters | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [2] | $ 0 | |||
Initial Cost Land | 1,500,000 | ||||
Initial Cost Buildings and Fixtures | 24,862,000 | ||||
Gross Amount, Land | 1,500,000 | ||||
Gross Amount, Buildings and Fixtures | 26,612,000 | ||||
Total | 28,112,000 | ||||
Accumulated Depreciation | (4,947,000) | ||||
Net | $ 23,165,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Avala at Savannah Quarters | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Avala at Savannah Quarters | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Georgetown Grove | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,288,000 | ||||
Initial Cost Buildings and Fixtures | 11,579,000 | ||||
Gross Amount, Land | 1,288,000 | ||||
Gross Amount, Buildings and Fixtures | 14,555,000 | ||||
Total | 15,843,000 | ||||
Accumulated Depreciation | (8,724,000) | ||||
Net | $ 7,119,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Georgetown Grove | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Georgetown Grove | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Hammocks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,441,000 | ||||
Initial Cost Buildings and Fixtures | 36,863,000 | ||||
Gross Amount, Land | 2,441,000 | ||||
Gross Amount, Buildings and Fixtures | 39,027,000 | ||||
Total | 41,468,000 | ||||
Accumulated Depreciation | (5,343,000) | ||||
Net | $ 36,125,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Colonial Grand at Hammocks | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Hammocks | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Haven at Prairie Trace [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,500,000 | ||||
Initial Cost Buildings and Fixtures | 40,614,000 | ||||
Gross Amount, Land | 3,500,000 | ||||
Gross Amount, Buildings and Fixtures | 41,401,000 | ||||
Total | 44,901,000 | ||||
Accumulated Depreciation | (1,527,000) | ||||
Net | $ 43,374,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Haven at Prairie Trace [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Haven at Prairie Trace [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Grand Reserve Lexington [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Grand Reserve Lexington [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Greentree | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,710,000 | ||||
Initial Cost Buildings and Fixtures | 10,494,000 | ||||
Gross Amount, Land | 1,710,000 | ||||
Gross Amount, Buildings and Fixtures | 11,326,000 | ||||
Total | 13,036,000 | ||||
Accumulated Depreciation | (2,038,000) | ||||
Net | $ 10,998,000 | ||||
Date of Construction | Dec. 31, 1984 | ||||
Total Residential Properties | Colonial Village at Greentree | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Greentree | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Grand Reserve at Pinnacle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,024,000 | ||||
Initial Cost Buildings and Fixtures | 31,525,000 | ||||
Gross Amount, Land | 2,024,000 | ||||
Gross Amount, Buildings and Fixtures | 35,903,000 | ||||
Total | 37,927,000 | ||||
Accumulated Depreciation | (15,607,000) | ||||
Net | $ 22,320,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Colonial Village at Huntington | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,521,000 | ||||
Initial Cost Buildings and Fixtures | 8,223,000 | ||||
Gross Amount, Land | 2,521,000 | ||||
Gross Amount, Buildings and Fixtures | 8,796,000 | ||||
Total | 11,317,000 | ||||
Accumulated Depreciation | (1,382,000) | ||||
Net | $ 9,935,000 | ||||
Date of Construction | Dec. 31, 1986 | ||||
Total Residential Properties | Colonial Village at Huntington | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Huntington | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Marsh Cove | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,231,000 | ||||
Initial Cost Buildings and Fixtures | 8,555,000 | ||||
Gross Amount, Land | 5,231,000 | ||||
Gross Amount, Buildings and Fixtures | 9,227,000 | ||||
Total | 14,458,000 | ||||
Accumulated Depreciation | (1,715,000) | ||||
Net | $ 12,743,000 | ||||
Date of Construction | Dec. 31, 1983 | ||||
Total Residential Properties | Colonial Village at Marsh Cove | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Marsh Cove | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Oaks at Wilmington Island | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,910,000 | ||||
Initial Cost Buildings and Fixtures | 25,315,000 | ||||
Gross Amount, Land | 2,864,000 | ||||
Gross Amount, Buildings and Fixtures | 28,744,000 | ||||
Total | 31,608,000 | ||||
Accumulated Depreciation | (10,188,000) | ||||
Net | $ 21,420,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Oaks at Wilmington Island | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Oaks at Wilmington Island | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Highlands of West Village I [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 38,672,000 | ||||
Initial Cost Land | 9,052,000 | ||||
Initial Cost Buildings and Fixtures | 43,395,000 | ||||
Gross Amount, Land | 9,052,000 | ||||
Gross Amount, Buildings and Fixtures | 48,616,000 | ||||
Total | 57,668,000 | ||||
Accumulated Depreciation | (3,765,000) | ||||
Net | $ 53,903,000 | ||||
Date of Construction | Dec. 31, 2006 | ||||
Total Residential Properties | Highlands of West Village I [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Highlands of West Village I [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Highlands of West Village II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,358,000 | ||||
Initial Cost Buildings and Fixtures | 30,338,000 | ||||
Gross Amount, Land | 5,358,000 | ||||
Gross Amount, Buildings and Fixtures | 30,416,000 | ||||
Total | 35,774,000 | ||||
Accumulated Depreciation | (2,229,000) | ||||
Net | $ 33,545,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Total Residential Properties | Highlands of West Village II [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Highlands of West Village II [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Terraces At Townelake [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,331,000 | ||||
Initial Cost Buildings and Fixtures | 11,918,000 | ||||
Gross Amount, Land | 3,019,000 | ||||
Gross Amount, Buildings and Fixtures | 33,610,000 | ||||
Total | 36,629,000 | ||||
Accumulated Depreciation | (18,017,000) | ||||
Net | $ 18,612,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Terraces At Townelake [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Terraces At Townelake [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Residences at Burlington Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 4,000,000 | ||||
Initial Cost Buildings and Fixtures | 42,144,000 | ||||
Gross Amount, Land | 4,000,000 | ||||
Gross Amount, Buildings and Fixtures | 42,658,000 | ||||
Total | 46,658,000 | ||||
Accumulated Depreciation | (2,203,000) | ||||
Net | $ 44,455,000 | ||||
Total Residential Properties | Residences at Burlington Creek [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Residences at Burlington Creek [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Lakepointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 411,000 | ||||
Initial Cost Buildings and Fixtures | 3,699,000 | ||||
Gross Amount, Land | 411,000 | ||||
Gross Amount, Buildings and Fixtures | 6,027,000 | ||||
Total | 6,438,000 | ||||
Accumulated Depreciation | (4,183,000) | ||||
Net | $ 2,255,000 | ||||
Date of Construction | Dec. 31, 1986 | ||||
Total Residential Properties | Lakepointe [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Lakepointe [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | The Denton [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 750,000 | ||||
Initial Cost Buildings and Fixtures | 8,795,000 | ||||
Gross Amount, Land | 750,000 | ||||
Gross Amount, Buildings and Fixtures | 8,843,000 | ||||
Total | 9,593,000 | ||||
Accumulated Depreciation | (225,000) | ||||
Net | $ 9,368,000 | ||||
Date of Construction | Dec. 31, 2014 | ||||
Total Residential Properties | The Denton [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | The Denton [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Mansion [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 694,000 | ||||
Initial Cost Buildings and Fixtures | 6,242,000 | ||||
Gross Amount, Land | 694,000 | ||||
Gross Amount, Buildings and Fixtures | 9,467,000 | ||||
Total | 10,161,000 | ||||
Accumulated Depreciation | (6,669,000) | ||||
Net | $ 3,492,000 | ||||
Date of Construction | Dec. 31, 1989 | ||||
Total Residential Properties | Mansion [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Mansion [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 900,000 | ||||
Initial Cost Buildings and Fixtures | 8,097,000 | ||||
Gross Amount, Land | 900,000 | ||||
Gross Amount, Buildings and Fixtures | 12,380,000 | ||||
Total | 13,280,000 | ||||
Accumulated Depreciation | (8,662,000) | ||||
Net | $ 4,618,000 | ||||
Date of Construction | Dec. 31, 1989 | ||||
Total Residential Properties | Village [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Village [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Stonemill Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,169,000 | ||||
Initial Cost Buildings and Fixtures | 10,518,000 | ||||
Gross Amount, Land | 1,169,000 | ||||
Gross Amount, Buildings and Fixtures | 19,441,000 | ||||
Total | 20,610,000 | ||||
Accumulated Depreciation | (12,906,000) | ||||
Net | $ 7,704,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Stonemill Village [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Stonemill Village [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Crosswinds [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,535,000 | ||||
Initial Cost Buildings and Fixtures | 13,826,000 | ||||
Gross Amount, Land | 1,535,000 | ||||
Gross Amount, Buildings and Fixtures | 18,370,000 | ||||
Total | 19,905,000 | ||||
Accumulated Depreciation | (12,072,000) | ||||
Net | $ 7,833,000 | ||||
Date of Construction | Dec. 31, 1989 | ||||
Total Residential Properties | Crosswinds [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Crosswinds [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Pear Orchard [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,351,000 | ||||
Initial Cost Buildings and Fixtures | 12,168,000 | ||||
Gross Amount, Land | 1,351,000 | ||||
Gross Amount, Buildings and Fixtures | 20,229,000 | ||||
Total | 21,580,000 | ||||
Accumulated Depreciation | (13,723,000) | ||||
Net | $ 7,857,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Pear Orchard [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Pear Orchard [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Reflection Pointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 710,000 | ||||
Initial Cost Buildings and Fixtures | 8,770,000 | ||||
Gross Amount, Land | 848,000 | ||||
Gross Amount, Buildings and Fixtures | 17,045,000 | ||||
Total | 17,893,000 | ||||
Accumulated Depreciation | (11,088,000) | ||||
Net | $ 6,805,000 | ||||
Date of Construction | Dec. 31, 1986 | ||||
Total Residential Properties | Reflection Pointe [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Reflection Pointe [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Lakeshore Landing [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 676,000 | ||||
Initial Cost Buildings and Fixtures | 6,284,000 | ||||
Gross Amount, Land | 676,000 | ||||
Gross Amount, Buildings and Fixtures | 9,095,000 | ||||
Total | 9,771,000 | ||||
Accumulated Depreciation | (4,145,000) | ||||
Net | $ 5,626,000 | ||||
Date of Construction | Dec. 31, 1974 | ||||
Total Residential Properties | Lakeshore Landing [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Lakeshore Landing [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Market Station [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,814,000 | ||||
Initial Cost Buildings and Fixtures | 46,241,000 | ||||
Gross Amount, Land | 5,814,000 | ||||
Gross Amount, Buildings and Fixtures | 47,563,000 | ||||
Total | 53,377,000 | ||||
Accumulated Depreciation | (6,925,000) | ||||
Net | $ 46,452,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Total Residential Properties | Market Station [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Market Station [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Desert Vista [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 4,091,000 | ||||
Initial Cost Buildings and Fixtures | 29,826,000 | ||||
Gross Amount, Land | 4,091,000 | ||||
Gross Amount, Buildings and Fixtures | 30,775,000 | ||||
Total | 34,866,000 | ||||
Accumulated Depreciation | (4,535,000) | ||||
Net | $ 30,331,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Colonial Grand at Desert Vista [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Desert Vista [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Palm Vista [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 4,909,000 | ||||
Initial Cost Buildings and Fixtures | 25,643,000 | ||||
Gross Amount, Land | 4,909,000 | ||||
Gross Amount, Buildings and Fixtures | 27,180,000 | ||||
Total | 32,089,000 | ||||
Accumulated Depreciation | (4,175,000) | ||||
Net | $ 27,914,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Total Residential Properties | Colonial Grand at Palm Vista [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Palm Vista [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Beaver Creek (Raleigh, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,491,000 | ||||
Initial Cost Buildings and Fixtures | 34,863,000 | ||||
Gross Amount, Land | 7,491,000 | ||||
Gross Amount, Buildings and Fixtures | 36,138,000 | ||||
Total | 43,629,000 | ||||
Accumulated Depreciation | (4,968,000) | ||||
Net | $ 38,661,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Total Residential Properties | Colonial Village at Beaver Creek (Raleigh, NC) [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Beaver Creek (Raleigh, NC) [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Hermitage at Beechtree | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 900,000 | ||||
Initial Cost Buildings and Fixtures | 8,099,000 | ||||
Gross Amount, Land | 900,000 | ||||
Gross Amount, Buildings and Fixtures | 12,476,000 | ||||
Total | 13,376,000 | ||||
Accumulated Depreciation | (7,483,000) | ||||
Net | $ 5,893,000 | ||||
Date of Construction | Dec. 31, 1988 | ||||
Total Residential Properties | Hermitage at Beechtree | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Hermitage at Beechtree | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Waterford Forest | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 4,000,000 | ||||
Initial Cost Buildings and Fixtures | 20,250,000 | ||||
Gross Amount, Land | 4,000,000 | ||||
Gross Amount, Buildings and Fixtures | 23,471,000 | ||||
Total | 27,471,000 | ||||
Accumulated Depreciation | (9,431,000) | ||||
Net | $ 18,040,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Waterford Forest | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Waterford Forest | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | 1225 South Church I | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 9,612,000 | ||||
Initial Cost Buildings and Fixtures | 22,342,000 | ||||
Gross Amount, Land | 9,612,000 | ||||
Gross Amount, Buildings and Fixtures | 47,319,000 | ||||
Total | 56,931,000 | ||||
Accumulated Depreciation | (6,178,000) | ||||
Net | $ 50,753,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Total Residential Properties | 1225 South Church I | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | 1225 South Church I | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Ayrsley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,481,000 | ||||
Initial Cost Buildings and Fixtures | 52,119,000 | ||||
Gross Amount, Land | 2,481,000 | ||||
Gross Amount, Buildings and Fixtures | 64,916,000 | ||||
Total | 67,397,000 | ||||
Accumulated Depreciation | (8,282,000) | ||||
Net | $ 59,115,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Colonial Grand at Ayrsley [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Ayrsley [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Beverly Crest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Gross Amount, Land | $ 3,161,000 | ||||
Gross Amount, Buildings and Fixtures | 26,133,000 | ||||
Total | 29,294,000 | ||||
Accumulated Depreciation | (3,617,000) | ||||
Net | $ 25,677,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Colonial Grand at Beverly Crest [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Beverly Crest [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Legacy Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,891,000 | ||||
Initial Cost Buildings and Fixtures | 28,272,000 | ||||
Gross Amount, Land | 2,891,000 | ||||
Gross Amount, Buildings and Fixtures | 29,918,000 | ||||
Total | 32,809,000 | ||||
Accumulated Depreciation | (4,282,000) | ||||
Net | $ 28,527,000 | ||||
Date of Construction | Dec. 31, 2001 | ||||
Total Residential Properties | Colonial Grand at Legacy Park [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Legacy Park [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Mallard Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 14,520,000 | ||||
Initial Cost Land | 4,591,000 | ||||
Initial Cost Buildings and Fixtures | 27,713,000 | ||||
Gross Amount, Land | 4,591,000 | ||||
Gross Amount, Buildings and Fixtures | 28,672,000 | ||||
Total | 33,263,000 | ||||
Accumulated Depreciation | (4,170,000) | ||||
Net | $ 29,093,000 | ||||
Date of Construction | Dec. 31, 2005 | ||||
Total Residential Properties | Colonial Grand at Mallard Creek [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Mallard Creek [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at South Tryon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,260,000 | ||||
Initial Cost Buildings and Fixtures | 19,489,000 | ||||
Gross Amount, Land | 2,260,000 | ||||
Gross Amount, Buildings and Fixtures | 20,610,000 | ||||
Total | 22,870,000 | ||||
Accumulated Depreciation | (2,951,000) | ||||
Net | $ 19,919,000 | ||||
Date of Construction | Dec. 31, 2002 | ||||
Total Residential Properties | Colonial Village at South Tryon | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at South Tryon | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Stone Point | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Stone Point | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Timber Crest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,901,000 | ||||
Initial Cost Buildings and Fixtures | 17,192,000 | ||||
Gross Amount, Land | 2,901,000 | ||||
Gross Amount, Buildings and Fixtures | 18,627,000 | ||||
Total | 21,528,000 | ||||
Accumulated Depreciation | (2,454,000) | ||||
Net | $ 19,074,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Colonial Village at Timber Crest [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Timber Crest [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Enclave [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,461,000 | ||||
Initial Cost Buildings and Fixtures | 18,984,000 | ||||
Gross Amount, Land | 1,461,000 | ||||
Gross Amount, Buildings and Fixtures | 19,659,000 | ||||
Total | 21,120,000 | ||||
Accumulated Depreciation | (2,366,000) | ||||
Net | $ 18,754,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Enclave [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Enclave [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Post Ballantyne [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 16,249,000 | ||||
Initial Cost Buildings and Fixtures | 44,904,000 | ||||
Gross Amount, Land | 16,249,000 | ||||
Gross Amount, Buildings and Fixtures | 44,950,000 | ||||
Total | 61,199,000 | ||||
Accumulated Depreciation | (138,000) | ||||
Net | $ 61,061,000 | ||||
Date of Construction | Dec. 31, 2004 | ||||
Total Residential Properties | Post Gateway Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 17,563,000 | ||||
Initial Cost Buildings and Fixtures | 57,552,000 | ||||
Gross Amount, Land | 17,563,000 | ||||
Gross Amount, Buildings and Fixtures | 57,608,000 | ||||
Total | 75,171,000 | ||||
Accumulated Depreciation | (199,000) | ||||
Net | $ 74,972,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Post Park at Phillips Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 20,911,000 | ||||
Initial Cost Buildings and Fixtures | 65,642,000 | ||||
Gross Amount, Land | 20,911,000 | ||||
Gross Amount, Buildings and Fixtures | 65,758,000 | ||||
Total | 86,669,000 | ||||
Accumulated Depreciation | (215,000) | ||||
Net | $ 86,454,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Parkside at Wade [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,211,000 | ||||
Initial Cost Buildings and Fixtures | 52,064,000 | ||||
Gross Amount, Land | 7,211,000 | ||||
Gross Amount, Buildings and Fixtures | 52,101,000 | ||||
Total | 59,312,000 | ||||
Accumulated Depreciation | (204,000) | ||||
Net | $ 59,108,000 | ||||
Date of Construction | Dec. 31, 2011 | ||||
Total Residential Properties | Post Parkside Orlando [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,680,000 | ||||
Initial Cost Buildings and Fixtures | 49,849,000 | ||||
Gross Amount, Land | 5,680,000 | ||||
Gross Amount, Buildings and Fixtures | 49,896,000 | ||||
Total | 55,576,000 | ||||
Accumulated Depreciation | (167,000) | ||||
Net | $ 55,409,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Post South End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 18,873,000 | ||||
Initial Cost Buildings and Fixtures | 58,912,000 | ||||
Gross Amount, Land | 18,873,000 | ||||
Gross Amount, Buildings and Fixtures | 58,960,000 | ||||
Total | 77,833,000 | ||||
Accumulated Depreciation | (169,000) | ||||
Net | $ 77,664,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Post Uptown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 10,910,000 | ||||
Initial Cost Buildings and Fixtures | 30,136,000 | ||||
Gross Amount, Land | 10,910,000 | ||||
Gross Amount, Buildings and Fixtures | 30,164,000 | ||||
Total | 41,074,000 | ||||
Accumulated Depreciation | (99,000) | ||||
Net | $ 40,975,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Colonial Grand at Cornelius [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,571,000 | ||||
Initial Cost Buildings and Fixtures | 29,151,000 | ||||
Gross Amount, Land | 4,571,000 | ||||
Gross Amount, Buildings and Fixtures | 29,999,000 | ||||
Total | 34,570,000 | ||||
Accumulated Depreciation | (4,455,000) | ||||
Net | $ 30,115,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Colonial Grand at Cornelius [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Cornelius [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Patterson Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 13,343,000 | ||||
Initial Cost Land | 2,590,000 | ||||
Initial Cost Buildings and Fixtures | 27,126,000 | ||||
Gross Amount, Land | 2,590,000 | ||||
Gross Amount, Buildings and Fixtures | 28,870,000 | ||||
Total | 31,460,000 | ||||
Accumulated Depreciation | (4,023,000) | ||||
Net | $ 27,437,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Colonial Grand at Patterson Place [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Patterson Place [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Woodlake [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Woodlake [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Deerfield [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,271,000 | ||||
Initial Cost Buildings and Fixtures | 15,609,000 | ||||
Gross Amount, Land | 3,271,000 | ||||
Gross Amount, Buildings and Fixtures | 16,625,000 | ||||
Total | 19,896,000 | ||||
Accumulated Depreciation | (2,827,000) | ||||
Net | $ 17,069,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Colonial Village at Deerfield [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Deerfield [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Research Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,201,000 | ||||
Initial Cost Buildings and Fixtures | 37,682,000 | ||||
Gross Amount, Land | 4,201,000 | ||||
Gross Amount, Buildings and Fixtures | 39,077,000 | ||||
Total | 43,278,000 | ||||
Accumulated Depreciation | (5,671,000) | ||||
Net | $ 37,607,000 | ||||
Date of Construction | Dec. 31, 2002 | ||||
Total Residential Properties | Colonial Grand at Research Park [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Research Park [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Greystone [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Greystone [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Autumn Park | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Autumn Park | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Huntersville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 20,376,000 | ||||
Initial Cost Land | 4,251,000 | ||||
Initial Cost Buildings and Fixtures | 31,948,000 | ||||
Gross Amount, Land | 4,251,000 | ||||
Gross Amount, Buildings and Fixtures | 33,248,000 | ||||
Total | 37,499,000 | ||||
Accumulated Depreciation | (4,786,000) | ||||
Net | $ 32,713,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Colonial Grand at Huntersville [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Huntersville [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Matthews [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,071,000 | ||||
Initial Cost Buildings and Fixtures | 21,830,000 | ||||
Gross Amount, Land | 3,071,000 | ||||
Gross Amount, Buildings and Fixtures | 25,169,000 | ||||
Total | 28,240,000 | ||||
Accumulated Depreciation | (3,993,000) | ||||
Net | $ 24,247,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Colonial Village at Matthews [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Matthews [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Matthews Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,690,000 | ||||
Initial Cost Buildings and Fixtures | 28,536,000 | ||||
Gross Amount, Land | 3,690,000 | ||||
Gross Amount, Buildings and Fixtures | 30,017,000 | ||||
Total | 33,707,000 | ||||
Accumulated Depreciation | (4,193,000) | ||||
Net | $ 29,514,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Colonial Grand at Matthews Commons [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Matthews Commons [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Arringdon [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 22,153,000 | ||||
Initial Cost Land | 6,401,000 | ||||
Initial Cost Buildings and Fixtures | 31,134,000 | ||||
Gross Amount, Land | 6,401,000 | ||||
Gross Amount, Buildings and Fixtures | 32,797,000 | ||||
Total | 39,198,000 | ||||
Accumulated Depreciation | (4,680,000) | ||||
Net | $ 34,518,000 | ||||
Date of Construction | Dec. 31, 2003 | ||||
Total Residential Properties | Colonial Grand at Arringdon [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Arringdon [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Brier Creek (Raleigh, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 28,856,000 | ||||
Initial Cost Land | 7,372,000 | ||||
Initial Cost Buildings and Fixtures | 50,202,000 | ||||
Gross Amount, Land | 7,372,000 | ||||
Gross Amount, Buildings and Fixtures | 51,459,000 | ||||
Total | 58,831,000 | ||||
Accumulated Depreciation | (7,029,000) | ||||
Net | $ 51,802,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Total Residential Properties | Colonial Grand at Brier Creek (Raleigh, NC) [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Brier Creek (Raleigh, NC) [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Brier Falls (Raleigh, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,572,000 | ||||
Initial Cost Buildings and Fixtures | 48,910,000 | ||||
Gross Amount, Land | 6,572,000 | ||||
Gross Amount, Buildings and Fixtures | 49,985,000 | ||||
Total | 56,557,000 | ||||
Accumulated Depreciation | (6,730,000) | ||||
Net | $ 49,827,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Colonial Grand at Brier Falls (Raleigh, NC) [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Brier Falls (Raleigh, NC) [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Crabtree Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 12,219,000 | ||||
Initial Cost Land | 2,241,000 | ||||
Initial Cost Buildings and Fixtures | 18,434,000 | ||||
Gross Amount, Land | 2,241,000 | ||||
Gross Amount, Buildings and Fixtures | 19,642,000 | ||||
Total | 21,883,000 | ||||
Accumulated Depreciation | (2,581,000) | ||||
Net | $ 19,302,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Colonial Grand at Crabtree Valley [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Crabtree Valley [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Hue [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,690,000 | ||||
Initial Cost Buildings and Fixtures | 29,910,000 | ||||
Gross Amount, Land | 3,690,000 | ||||
Gross Amount, Buildings and Fixtures | 32,071,000 | ||||
Total | 35,761,000 | ||||
Accumulated Depreciation | (5,783,000) | ||||
Net | $ 29,978,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Hue [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Hue [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Trinity Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 27,974,000 | ||||
Initial Cost Land | 5,232,000 | ||||
Initial Cost Buildings and Fixtures | 45,138,000 | ||||
Gross Amount, Land | 5,232,000 | ||||
Gross Amount, Buildings and Fixtures | 47,222,000 | ||||
Total | 52,454,000 | ||||
Accumulated Depreciation | (6,973,000) | ||||
Net | $ 45,481,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Colonial Grand at Trinity Commons [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Trinity Commons [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Preserve At Brier Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,850,000 | ||||
Initial Cost Buildings and Fixtures | 21,980,000 | ||||
Gross Amount, Land | 5,831,000 | ||||
Gross Amount, Buildings and Fixtures | 46,222,000 | ||||
Total | 52,053,000 | ||||
Accumulated Depreciation | (14,514,000) | ||||
Net | $ 37,539,000 | ||||
Date of Construction | Dec. 31, 2004 | ||||
Total Residential Properties | Preserve At Brier Creek [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Preserve At Brier Creek [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Providence At Brier Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,695,000 | ||||
Initial Cost Buildings and Fixtures | 29,007,000 | ||||
Gross Amount, Land | 4,695,000 | ||||
Gross Amount, Buildings and Fixtures | 30,568,000 | ||||
Total | 35,263,000 | ||||
Accumulated Depreciation | (8,939,000) | ||||
Net | $ 26,324,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Total Residential Properties | Providence At Brier Creek [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Providence At Brier Creek [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Park Haywood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 325,000 | ||||
Initial Cost Buildings and Fixtures | 2,925,000 | ||||
Gross Amount, Land | 360,000 | ||||
Gross Amount, Buildings and Fixtures | 7,155,000 | ||||
Total | 7,515,000 | ||||
Accumulated Depreciation | (5,087,000) | ||||
Net | $ 2,428,000 | ||||
Date of Construction | Dec. 31, 1983 | ||||
Total Residential Properties | Park Haywood | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Park Haywood | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Spring Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 597,000 | ||||
Initial Cost Buildings and Fixtures | 5,374,000 | ||||
Gross Amount, Land | 583,000 | ||||
Gross Amount, Buildings and Fixtures | 8,253,000 | ||||
Total | 8,836,000 | ||||
Accumulated Depreciation | (5,483,000) | ||||
Net | $ 3,353,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Spring Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Spring Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Innovation Apartment Homes [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 4,437,000 | ||||
Initial Cost Buildings and Fixtures | 52,026,000 | ||||
Gross Amount, Land | 4,437,000 | ||||
Gross Amount, Buildings and Fixtures | 52,197,000 | ||||
Total | 56,634,000 | ||||
Accumulated Depreciation | (444,000) | ||||
Net | $ 56,190,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Glen Eagles [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1990 | ||||
Total Residential Properties | Glen Eagles [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Glen Eagles [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Mill Creek [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Mill Creek [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Paddock Club Greenville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,200,000 | ||||
Initial Cost Buildings and Fixtures | 10,800,000 | ||||
Gross Amount, Land | 1,200,000 | ||||
Gross Amount, Buildings and Fixtures | 12,583,000 | ||||
Total | 13,783,000 | ||||
Accumulated Depreciation | (7,885,000) | ||||
Net | $ 5,898,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Paddock Club Greenville [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Paddock Club Greenville [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Howell Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,304,000 | ||||
Initial Cost Buildings and Fixtures | 11,740,000 | ||||
Gross Amount, Land | 1,304,000 | ||||
Gross Amount, Buildings and Fixtures | 15,003,000 | ||||
Total | 16,307,000 | ||||
Accumulated Depreciation | (9,725,000) | ||||
Net | $ 6,582,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Howell Commons [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Howell Commons [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Highland Ridge [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 482,000 | ||||
Initial Cost Buildings and Fixtures | 4,337,000 | ||||
Gross Amount, Land | 482,000 | ||||
Gross Amount, Buildings and Fixtures | 6,743,000 | ||||
Total | 7,225,000 | ||||
Accumulated Depreciation | (4,298,000) | ||||
Net | $ 2,927,000 | ||||
Date of Construction | Dec. 31, 1984 | ||||
Total Residential Properties | Highland Ridge [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Highland Ridge [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Windsor Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,321,000 | ||||
Initial Cost Buildings and Fixtures | 14,163,000 | ||||
Gross Amount, Land | 1,321,000 | ||||
Gross Amount, Buildings and Fixtures | 16,082,000 | ||||
Total | 17,403,000 | ||||
Accumulated Depreciation | (2,593,000) | ||||
Net | $ 14,810,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Colonial Village at Windsor Place [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Windsor Place [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Woodwinds [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,968,000 | ||||
Initial Cost Buildings and Fixtures | 19,928,000 | ||||
Gross Amount, Land | 1,968,000 | ||||
Gross Amount, Buildings and Fixtures | 22,957,000 | ||||
Total | 24,925,000 | ||||
Accumulated Depreciation | (8,399,000) | ||||
Net | $ 16,526,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Runaway Bay | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,085,000 | ||||
Initial Cost Buildings and Fixtures | 7,269,000 | ||||
Gross Amount, Land | 1,097,000 | ||||
Gross Amount, Buildings and Fixtures | 13,182,000 | ||||
Total | 14,279,000 | ||||
Accumulated Depreciation | (8,096,000) | ||||
Net | $ 6,183,000 | ||||
Date of Construction | Dec. 31, 1988 | ||||
Total Residential Properties | Runaway Bay | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Runaway Bay | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Commerce Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,780,000 | ||||
Initial Cost Buildings and Fixtures | 33,966,000 | ||||
Gross Amount, Land | 2,780,000 | ||||
Gross Amount, Buildings and Fixtures | 35,204,000 | ||||
Total | 37,984,000 | ||||
Accumulated Depreciation | (4,877,000) | ||||
Net | $ 33,107,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Colonial Grand at Commerce Park | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Commerce Park | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | 535 Brookwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 12,610,000 | ||||
Initial Cost Land | 1,216,000 | ||||
Initial Cost Buildings and Fixtures | 18,666,000 | ||||
Gross Amount, Land | 1,216,000 | ||||
Gross Amount, Buildings and Fixtures | 19,723,000 | ||||
Total | 20,939,000 | ||||
Accumulated Depreciation | (4,490,000) | ||||
Net | $ 16,449,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | 535 Brookwood | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | 535 Brookwood | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Park Place | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 723,000 | ||||
Initial Cost Buildings and Fixtures | 6,504,000 | ||||
Gross Amount, Land | 723,000 | ||||
Gross Amount, Buildings and Fixtures | 9,477,000 | ||||
Total | 10,200,000 | ||||
Accumulated Depreciation | (5,972,000) | ||||
Net | $ 4,228,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Park Place | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Park Place | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Farmington Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,800,000 | ||||
Initial Cost Buildings and Fixtures | 26,295,000 | ||||
Gross Amount, Land | 2,800,000 | ||||
Gross Amount, Buildings and Fixtures | 27,838,000 | ||||
Total | 30,638,000 | ||||
Accumulated Depreciation | (8,718,000) | ||||
Net | $ 21,920,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Total Residential Properties | Farmington Village [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Farmington Village [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Waters Edge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,103,000 | ||||
Initial Cost Buildings and Fixtures | 9,187,000 | ||||
Gross Amount, Land | 2,103,000 | ||||
Gross Amount, Buildings and Fixtures | 12,136,000 | ||||
Total | 14,239,000 | ||||
Accumulated Depreciation | (2,148,000) | ||||
Net | $ 12,091,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Colonial Village at Waters Edge | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Waters Edge | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Hamilton Pointe | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,131,000 | ||||
Initial Cost Buildings and Fixtures | 10,632,000 | ||||
Gross Amount, Land | 1,131,000 | ||||
Gross Amount, Buildings and Fixtures | 14,847,000 | ||||
Total | 15,978,000 | ||||
Accumulated Depreciation | (6,593,000) | ||||
Net | $ 9,385,000 | ||||
Date of Construction | Dec. 31, 1989 | ||||
Total Residential Properties | Hamilton Pointe | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Hamilton Pointe | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Hidden Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 972,000 | ||||
Initial Cost Buildings and Fixtures | 8,954,000 | ||||
Gross Amount, Land | 972,000 | ||||
Gross Amount, Buildings and Fixtures | 13,576,000 | ||||
Total | 14,548,000 | ||||
Accumulated Depreciation | (5,183,000) | ||||
Net | $ 9,365,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Hidden Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Hidden Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Steeplechase | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 217,000 | ||||
Initial Cost Buildings and Fixtures | 1,957,000 | ||||
Gross Amount, Land | 217,000 | ||||
Gross Amount, Buildings and Fixtures | 5,012,000 | ||||
Total | 5,229,000 | ||||
Accumulated Depreciation | (3,343,000) | ||||
Net | $ 1,886,000 | ||||
Date of Construction | Dec. 31, 1986 | ||||
Total Residential Properties | Steeplechase | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Steeplechase | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Windridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 817,000 | ||||
Initial Cost Buildings and Fixtures | 7,416,000 | ||||
Gross Amount, Land | 817,000 | ||||
Gross Amount, Buildings and Fixtures | 11,270,000 | ||||
Total | 12,087,000 | ||||
Accumulated Depreciation | (7,018,000) | ||||
Net | $ 5,069,000 | ||||
Date of Construction | Dec. 31, 1984 | ||||
Total Residential Properties | Windridge | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Windridge | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Kirby Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,148,000 | ||||
Initial Cost Buildings and Fixtures | 10,337,000 | ||||
Gross Amount, Land | 1,148,000 | ||||
Gross Amount, Buildings and Fixtures | 20,050,000 | ||||
Total | 21,198,000 | ||||
Accumulated Depreciation | (12,593,000) | ||||
Net | $ 8,605,000 | ||||
Date of Construction | Dec. 31, 1978 | ||||
Total Residential Properties | Kirby Station | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Kirby Station | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Lincoln on the Green | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 1,498,000 | ||||
Initial Cost Buildings and Fixtures | 20,483,000 | ||||
Gross Amount, Land | 1,498,000 | ||||
Gross Amount, Buildings and Fixtures | 35,283,000 | ||||
Total | 36,781,000 | ||||
Accumulated Depreciation | (23,470,000) | ||||
Net | $ 13,311,000 | ||||
Date of Construction | Dec. 31, 1992 | ||||
Total Residential Properties | Lincoln on the Green | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Lincoln on the Green | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Park Estate | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 178,000 | ||||
Initial Cost Buildings and Fixtures | 1,141,000 | ||||
Gross Amount, Land | 178,000 | ||||
Gross Amount, Buildings and Fixtures | 5,831,000 | ||||
Total | 6,009,000 | ||||
Accumulated Depreciation | (4,515,000) | ||||
Net | $ 1,494,000 | ||||
Date of Construction | Dec. 31, 1974 | ||||
Total Residential Properties | Park Estate | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Park Estate | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Reserve at Dexter Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 1,260,000 | ||||
Initial Cost Buildings and Fixtures | 16,043,000 | ||||
Gross Amount, Land | 3,407,000 | ||||
Gross Amount, Buildings and Fixtures | 55,021,000 | ||||
Total | 58,428,000 | ||||
Accumulated Depreciation | (23,640,000) | ||||
Net | $ 34,788,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Reserve at Dexter Lake | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Reserve at Dexter Lake | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Post West Austin [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,821,000 | ||||
Initial Cost Buildings and Fixtures | 48,925,000 | ||||
Gross Amount, Land | 7,821,000 | ||||
Gross Amount, Buildings and Fixtures | 48,962,000 | ||||
Total | 56,783,000 | ||||
Accumulated Depreciation | (203,000) | ||||
Net | $ 56,580,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Post Park Mesa [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,662,000 | ||||
Initial Cost Buildings and Fixtures | 19,867,000 | ||||
Gross Amount, Land | 4,662,000 | ||||
Gross Amount, Buildings and Fixtures | 19,882,000 | ||||
Total | 24,544,000 | ||||
Accumulated Depreciation | (64,000) | ||||
Net | $ 24,480,000 | ||||
Date of Construction | Dec. 31, 1992 | ||||
Total Residential Properties | Paddock Club Murfreesboro | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 915,000 | ||||
Initial Cost Buildings and Fixtures | 14,774,000 | ||||
Gross Amount, Land | 915,000 | ||||
Gross Amount, Buildings and Fixtures | 17,724,000 | ||||
Total | 18,639,000 | ||||
Accumulated Depreciation | (8,414,000) | ||||
Net | $ 10,225,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Paddock Club Murfreesboro | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Paddock Club Murfreesboro | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Aventura at Indian Lake Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,950,000 | ||||
Initial Cost Buildings and Fixtures | 28,053,000 | ||||
Gross Amount, Land | 4,950,000 | ||||
Gross Amount, Buildings and Fixtures | 29,270,000 | ||||
Total | 34,220,000 | ||||
Accumulated Depreciation | (5,466,000) | ||||
Net | $ 28,754,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Total Residential Properties | Aventura at Indian Lake Village | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Aventura at Indian Lake Village | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Avondale at Kennesaw | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 17,378,000 | ||||
Initial Cost Land | 3,456,000 | ||||
Initial Cost Buildings and Fixtures | 22,443,000 | ||||
Gross Amount, Land | 3,456,000 | ||||
Gross Amount, Buildings and Fixtures | 24,148,000 | ||||
Total | 27,604,000 | ||||
Accumulated Depreciation | (5,550,000) | ||||
Net | $ 22,054,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Avondale at Kennesaw | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Avondale at Kennesaw | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Brentwood Downs | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,193,000 | ||||
Initial Cost Buildings and Fixtures | 10,739,000 | ||||
Gross Amount, Land | 1,191,000 | ||||
Gross Amount, Buildings and Fixtures | 16,830,000 | ||||
Total | 18,021,000 | ||||
Accumulated Depreciation | (10,992,000) | ||||
Net | $ 7,029,000 | ||||
Date of Construction | Dec. 31, 1986 | ||||
Total Residential Properties | Brentwood Downs | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Brentwood Downs | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Bellevue | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 20,893,000 | ||||
Initial Cost Land | 8,622,000 | ||||
Initial Cost Buildings and Fixtures | 34,229,000 | ||||
Gross Amount, Land | 8,622,000 | ||||
Gross Amount, Buildings and Fixtures | 35,992,000 | ||||
Total | 44,614,000 | ||||
Accumulated Depreciation | (5,451,000) | ||||
Net | $ 39,163,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Colonial Grand at Bellevue | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Bellevue | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Grand View Nashville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,963,000 | ||||
Initial Cost Buildings and Fixtures | 33,673,000 | ||||
Gross Amount, Land | 2,963,000 | ||||
Gross Amount, Buildings and Fixtures | 40,087,000 | ||||
Total | 43,050,000 | ||||
Accumulated Depreciation | (17,055,000) | ||||
Net | $ 25,995,000 | ||||
Date of Construction | Dec. 31, 2001 | ||||
Total Residential Properties | Grand View Nashville | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Grand View Nashville | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Monthaven Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,736,000 | ||||
Initial Cost Buildings and Fixtures | 28,902,000 | ||||
Gross Amount, Land | 2,736,000 | ||||
Gross Amount, Buildings and Fixtures | 33,723,000 | ||||
Total | 36,459,000 | ||||
Accumulated Depreciation | (14,774,000) | ||||
Net | $ 21,685,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Monthaven Park | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Monthaven Park | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Park at Hermitage | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 1,524,000 | ||||
Initial Cost Buildings and Fixtures | 14,800,000 | ||||
Gross Amount, Land | 1,524,000 | ||||
Gross Amount, Buildings and Fixtures | 23,108,000 | ||||
Total | 24,632,000 | ||||
Accumulated Depreciation | (15,306,000) | ||||
Net | $ 9,326,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Park at Hermitage | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Park at Hermitage | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Venue at Cool Springs | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 6,670,000 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 6,670,000 | ||||
Gross Amount, Buildings and Fixtures | 50,973,000 | ||||
Total | 57,643,000 | ||||
Accumulated Depreciation | (5,770,000) | ||||
Net | $ 51,873,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Total Residential Properties | Venue at Cool Springs | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Venue at Cool Springs | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Verandas at Sam Ridley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 21,388,000 | |||
Initial Cost Land | 3,350,000 | ||||
Initial Cost Buildings and Fixtures | 28,308,000 | ||||
Gross Amount, Land | 3,350,000 | ||||
Gross Amount, Buildings and Fixtures | 29,849,000 | ||||
Total | 33,199,000 | ||||
Accumulated Depreciation | (6,687,000) | ||||
Net | $ 26,512,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Verandas at Sam Ridley | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Verandas at Sam Ridley | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Northwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 886,000 | ||||
Initial Cost Buildings and Fixtures | 8,051,000 | ||||
Gross Amount, Land | 886,000 | ||||
Gross Amount, Buildings and Fixtures | 10,877,000 | ||||
Total | 11,763,000 | ||||
Accumulated Depreciation | (4,828,000) | ||||
Net | $ 6,935,000 | ||||
Date of Construction | Dec. 31, 1980 | ||||
Total Residential Properties | Northwood | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Northwood | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Balcones Woods | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,598,000 | ||||
Initial Cost Buildings and Fixtures | 14,398,000 | ||||
Gross Amount, Land | 1,598,000 | ||||
Gross Amount, Buildings and Fixtures | 22,914,000 | ||||
Total | 24,512,000 | ||||
Accumulated Depreciation | (14,395,000) | ||||
Net | $ 10,117,000 | ||||
Date of Construction | Dec. 31, 1983 | ||||
Total Residential Properties | Balcones Woods | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Balcones Woods | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Canyon Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 13,951,000 | ||||
Initial Cost Land | 3,621,000 | ||||
Initial Cost Buildings and Fixtures | 32,137,000 | ||||
Gross Amount, Land | 3,621,000 | ||||
Gross Amount, Buildings and Fixtures | 33,442,000 | ||||
Total | 37,063,000 | ||||
Accumulated Depreciation | (4,854,000) | ||||
Net | $ 32,209,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Colonial Grand at Canyon Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Canyon Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Canyon Pointe | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,778,000 | ||||
Initial Cost Buildings and Fixtures | 20,201,000 | ||||
Gross Amount, Land | 3,778,000 | ||||
Gross Amount, Buildings and Fixtures | 21,690,000 | ||||
Total | 25,468,000 | ||||
Accumulated Depreciation | (3,477,000) | ||||
Net | $ 21,991,000 | ||||
Date of Construction | Dec. 31, 2003 | ||||
Total Residential Properties | Colonial Grand at Canyon Pointe | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Canyon Pointe | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Post Abbey [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,716,000 | ||||
Initial Cost Buildings and Fixtures | 4,377,000 | ||||
Gross Amount, Land | 2,716,000 | ||||
Gross Amount, Buildings and Fixtures | 4,382,000 | ||||
Total | 7,098,000 | ||||
Accumulated Depreciation | (15,000) | ||||
Net | $ 7,083,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 12,333,000 | ||||
Initial Cost Buildings and Fixtures | 189,783,000 | ||||
Gross Amount, Land | 12,333,000 | ||||
Gross Amount, Buildings and Fixtures | 189,940,000 | ||||
Total | 202,273,000 | ||||
Accumulated Depreciation | (617,000) | ||||
Net | 201,656,000 | ||||
Total Residential Properties | Post Cole's Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 13,056,000 | ||||
Initial Cost Buildings and Fixtures | 14,409,000 | ||||
Gross Amount, Land | 13,056,000 | ||||
Gross Amount, Buildings and Fixtures | 14,430,000 | ||||
Total | 27,486,000 | ||||
Accumulated Depreciation | (55,000) | ||||
Net | $ 27,431,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Total Residential Properties | Colonial Grand at Double Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,131,000 | ||||
Initial Cost Buildings and Fixtures | 29,375,000 | ||||
Gross Amount, Land | 3,131,000 | ||||
Gross Amount, Buildings and Fixtures | 29,818,000 | ||||
Total | 32,949,000 | ||||
Accumulated Depreciation | (4,408,000) | ||||
Net | $ 28,541,000 | ||||
Date of Construction | Dec. 31, 2013 | ||||
Total Residential Properties | Colonial Grand at Double Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Double Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Onion Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,902,000 | ||||
Initial Cost Buildings and Fixtures | 33,010,000 | ||||
Gross Amount, Land | 4,902,000 | ||||
Gross Amount, Buildings and Fixtures | 34,090,000 | ||||
Total | 38,992,000 | ||||
Accumulated Depreciation | (5,034,000) | ||||
Net | $ 33,958,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Colonial Grand at Onion Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Onion Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Post Eastside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,148,000 | ||||
Initial Cost Buildings and Fixtures | 58,200,000 | ||||
Gross Amount, Land | 7,148,000 | ||||
Gross Amount, Buildings and Fixtures | 58,246,000 | ||||
Total | 65,394,000 | ||||
Accumulated Depreciation | (179,000) | ||||
Net | $ 65,215,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Post Gallery [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,399,000 | ||||
Initial Cost Buildings and Fixtures | 7,924,000 | ||||
Gross Amount, Land | 4,399,000 | ||||
Gross Amount, Buildings and Fixtures | 7,933,000 | ||||
Total | 12,332,000 | ||||
Accumulated Depreciation | (34,000) | ||||
Net | $ 12,298,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Post Heights [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 26,297,000 | ||||
Initial Cost Buildings and Fixtures | 37,993,000 | ||||
Gross Amount, Land | 26,297,000 | ||||
Gross Amount, Buildings and Fixtures | 38,035,000 | ||||
Total | 64,332,000 | ||||
Accumulated Depreciation | (137,000) | ||||
Net | 64,195,000 | ||||
Total Residential Properties | Post Katy Trail [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 10,353,000 | ||||
Initial Cost Buildings and Fixtures | 32,521,000 | ||||
Gross Amount, Land | 10,353,000 | ||||
Gross Amount, Buildings and Fixtures | 32,554,000 | ||||
Total | 42,907,000 | ||||
Accumulated Depreciation | (94,000) | ||||
Net | $ 42,813,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Total Residential Properties | Post Legacy [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,588,000 | ||||
Initial Cost Buildings and Fixtures | 55,385,000 | ||||
Gross Amount, Land | 6,588,000 | ||||
Gross Amount, Buildings and Fixtures | 55,423,000 | ||||
Total | 62,011,000 | ||||
Accumulated Depreciation | (179,000) | ||||
Net | $ 61,832,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Post Meridian [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 8,798,000 | ||||
Initial Cost Buildings and Fixtures | 13,680,000 | ||||
Gross Amount, Land | 8,798,000 | ||||
Gross Amount, Buildings and Fixtures | 13,700,000 | ||||
Total | 22,498,000 | ||||
Accumulated Depreciation | (51,000) | ||||
Net | $ 22,447,000 | ||||
Date of Construction | Dec. 31, 1991 | ||||
Total Residential Properties | Post Sierra at Frisco Bridges [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,790,000 | ||||
Initial Cost Buildings and Fixtures | 32,607,000 | ||||
Gross Amount, Land | 6,790,000 | ||||
Gross Amount, Buildings and Fixtures | 32,633,000 | ||||
Total | 39,423,000 | ||||
Accumulated Depreciation | (138,000) | ||||
Net | $ 39,285,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Post Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 13,204,000 | ||||
Initial Cost Buildings and Fixtures | 24,095,000 | ||||
Gross Amount, Land | 13,204,000 | ||||
Gross Amount, Buildings and Fixtures | 24,122,000 | ||||
Total | 37,326,000 | ||||
Accumulated Depreciation | (74,000) | ||||
Net | $ 37,252,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Uptown Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 35,044,000 | ||||
Initial Cost Buildings and Fixtures | 33,276,000 | ||||
Gross Amount, Land | 35,044,000 | ||||
Gross Amount, Buildings and Fixtures | 33,324,000 | ||||
Total | 68,368,000 | ||||
Accumulated Depreciation | (115,000) | ||||
Net | 68,253,000 | ||||
Total Residential Properties | Post Vineyard [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 7,982,000 | ||||
Initial Cost Buildings and Fixtures | 7,486,000 | ||||
Gross Amount, Land | 7,982,000 | ||||
Gross Amount, Buildings and Fixtures | 7,500,000 | ||||
Total | 15,482,000 | ||||
Accumulated Depreciation | (24,000) | ||||
Net | $ 15,458,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Vintage [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 13,648,000 | ||||
Initial Cost Buildings and Fixtures | 8,624,000 | ||||
Gross Amount, Land | 13,648,000 | ||||
Gross Amount, Buildings and Fixtures | 8,638,000 | ||||
Total | 22,286,000 | ||||
Accumulated Depreciation | (31,000) | ||||
Net | $ 22,255,000 | ||||
Date of Construction | Dec. 31, 1993 | ||||
Total Residential Properties | Post Worthington [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 13,740,000 | ||||
Initial Cost Buildings and Fixtures | 43,352,000 | ||||
Gross Amount, Land | 13,740,000 | ||||
Gross Amount, Buildings and Fixtures | 43,400,000 | ||||
Total | 57,140,000 | ||||
Accumulated Depreciation | (139,000) | ||||
Net | 57,001,000 | ||||
Total Residential Properties | Grand Reserve at Sunset Valley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | 0 | |||
Initial Cost Land | 3,150,000 | ||||
Initial Cost Buildings and Fixtures | 11,393,000 | ||||
Gross Amount, Land | 3,150,000 | ||||
Gross Amount, Buildings and Fixtures | 14,519,000 | ||||
Total | 17,669,000 | ||||
Accumulated Depreciation | (6,067,000) | ||||
Net | $ 11,602,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Grand Reserve at Sunset Valley | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Grand Reserve at Sunset Valley | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Quarry Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 30,417,000 | |||
Initial Cost Land | 4,621,000 | ||||
Initial Cost Buildings and Fixtures | 34,461,000 | ||||
Gross Amount, Land | 4,621,000 | ||||
Gross Amount, Buildings and Fixtures | 39,260,000 | ||||
Total | 43,881,000 | ||||
Accumulated Depreciation | (6,005,000) | ||||
Net | $ 37,876,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Colonial Village at Quarry Oaks | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Quarry Oaks | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Wells Branch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,094,000 | ||||
Initial Cost Buildings and Fixtures | 32,283,000 | ||||
Gross Amount, Land | 3,388,000 | ||||
Gross Amount, Buildings and Fixtures | 33,367,000 | ||||
Total | 36,755,000 | ||||
Accumulated Depreciation | (4,581,000) | ||||
Net | $ 32,174,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Colonial Grand at Wells Branch | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Wells Branch | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Legacy at Western Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 9,100,000 | ||||
Initial Cost Buildings and Fixtures | 49,339,000 | ||||
Gross Amount, Land | 9,100,000 | ||||
Gross Amount, Buildings and Fixtures | 47,981,000 | ||||
Total | 57,081,000 | ||||
Accumulated Depreciation | (7,921,000) | ||||
Net | $ 49,160,000 | ||||
Date of Construction | Dec. 31, 2001 | ||||
Total Residential Properties | Legacy at Western Oaks | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Legacy at Western Oaks | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Post South Lamar [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 11,565,000 | ||||
Initial Cost Buildings and Fixtures | 41,361,000 | ||||
Gross Amount, Land | 11,565,000 | ||||
Gross Amount, Buildings and Fixtures | 41,394,000 | ||||
Total | 52,959,000 | ||||
Accumulated Depreciation | (176,000) | ||||
Net | $ 52,783,000 | ||||
Date of Construction | Dec. 31, 2011 | ||||
Total Residential Properties | Post Barton Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 8,700,000 | ||||
Initial Cost Buildings and Fixtures | 21,538,000 | ||||
Gross Amount, Land | 8,700,000 | ||||
Gross Amount, Buildings and Fixtures | 21,566,000 | ||||
Total | 30,266,000 | ||||
Accumulated Depreciation | (80,000) | ||||
Net | $ 30,186,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Total Residential Properties | Silverado | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,900,000 | ||||
Initial Cost Buildings and Fixtures | 24,009,000 | ||||
Gross Amount, Land | 2,900,000 | ||||
Gross Amount, Buildings and Fixtures | 27,069,000 | ||||
Total | 29,969,000 | ||||
Accumulated Depreciation | (9,956,000) | ||||
Net | $ 20,013,000 | ||||
Date of Construction | Dec. 31, 2003 | ||||
Total Residential Properties | Silverado | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Silverado | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Stassney Woods | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,621,000 | ||||
Initial Cost Buildings and Fixtures | 7,501,000 | ||||
Gross Amount, Land | 1,621,000 | ||||
Gross Amount, Buildings and Fixtures | 15,351,000 | ||||
Total | 16,972,000 | ||||
Accumulated Depreciation | (8,978,000) | ||||
Net | $ 7,994,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Stassney Woods | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Stassney Woods | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Travis Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,281,000 | ||||
Initial Cost Buildings and Fixtures | 6,169,000 | ||||
Gross Amount, Land | 2,281,000 | ||||
Gross Amount, Buildings and Fixtures | 13,269,000 | ||||
Total | 15,550,000 | ||||
Accumulated Depreciation | (8,010,000) | ||||
Net | $ 7,540,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Travis Station | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Travis Station | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Woods, The | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,405,000 | ||||
Initial Cost Buildings and Fixtures | 12,769,000 | ||||
Gross Amount, Land | 1,405,000 | ||||
Gross Amount, Buildings and Fixtures | 19,942,000 | ||||
Total | 21,347,000 | ||||
Accumulated Depreciation | (8,465,000) | ||||
Net | $ 12,882,000 | ||||
Date of Construction | Dec. 31, 1977 | ||||
Total Residential Properties | Woods, The | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Woods, The | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Shoal Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 18,662,000 | ||||
Initial Cost Land | 4,982,000 | ||||
Initial Cost Buildings and Fixtures | 27,377,000 | ||||
Gross Amount, Land | 4,982,000 | ||||
Gross Amount, Buildings and Fixtures | 29,779,000 | ||||
Total | 34,761,000 | ||||
Accumulated Depreciation | (4,597,000) | ||||
Net | $ 30,164,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Colonial Village at Shoal Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Shoal Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Willow Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 22,425,000 | ||||
Initial Cost Land | 3,109,000 | ||||
Initial Cost Buildings and Fixtures | 33,488,000 | ||||
Gross Amount, Land | 3,109,000 | ||||
Gross Amount, Buildings and Fixtures | 38,415,000 | ||||
Total | 41,524,000 | ||||
Accumulated Depreciation | (5,661,000) | ||||
Net | $ 35,863,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Colonial Village at Willow Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Willow Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Post Midtown Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 19,076,000 | ||||
Initial Cost Buildings and Fixtures | 89,736,000 | ||||
Gross Amount, Land | 19,076,000 | ||||
Gross Amount, Buildings and Fixtures | 89,828,000 | ||||
Total | 108,904,000 | ||||
Accumulated Depreciation | (319,000) | ||||
Net | 108,585,000 | ||||
Total Residential Properties | Post 510 [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 7,241,000 | ||||
Initial Cost Buildings and Fixtures | 33,421,000 | ||||
Gross Amount, Land | 7,241,000 | ||||
Gross Amount, Buildings and Fixtures | 33,445,000 | ||||
Total | 40,686,000 | ||||
Accumulated Depreciation | (157,000) | ||||
Net | $ 40,529,000 | ||||
Date of Construction | Dec. 31, 2014 | ||||
Total Residential Properties | Colonial Grand at Hebron (Dallas, TX) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,231,000 | ||||
Initial Cost Buildings and Fixtures | 42,237,000 | ||||
Gross Amount, Land | 4,231,000 | ||||
Gross Amount, Buildings and Fixtures | 42,979,000 | ||||
Total | 47,210,000 | ||||
Accumulated Depreciation | (5,655,000) | ||||
Net | $ 41,555,000 | ||||
Date of Construction | Dec. 31, 2011 | ||||
Total Residential Properties | Colonial Grand at Hebron (Dallas, TX) [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Hebron (Dallas, TX) [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Silverado [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,282,000 | ||||
Initial Cost Buildings and Fixtures | 24,935,000 | ||||
Gross Amount, Land | 3,282,000 | ||||
Gross Amount, Buildings and Fixtures | 25,865,000 | ||||
Total | 29,147,000 | ||||
Accumulated Depreciation | (3,709,000) | ||||
Net | $ 25,438,000 | ||||
Date of Construction | Dec. 31, 2005 | ||||
Total Residential Properties | Colonial Grand at Silverado [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Silverado [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Silverado Reserve [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,951,000 | ||||
Initial Cost Buildings and Fixtures | 31,705,000 | ||||
Gross Amount, Land | 3,951,000 | ||||
Gross Amount, Buildings and Fixtures | 32,968,000 | ||||
Total | 36,919,000 | ||||
Accumulated Depreciation | (4,624,000) | ||||
Net | $ 32,295,000 | ||||
Date of Construction | Dec. 31, 2005 | ||||
Total Residential Properties | Colonial Grand at Silverado Reserve [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Silverado Reserve [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Yale at 6th [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 13,107,000 | ||||
Initial Cost Buildings and Fixtures | 62,764,000 | ||||
Gross Amount, Land | 13,107,000 | ||||
Gross Amount, Buildings and Fixtures | 62,933,000 | ||||
Total | 76,040,000 | ||||
Accumulated Depreciation | (599,000) | ||||
Net | $ 75,441,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Grand Cypress [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 15,824,000 | ||||
Initial Cost Land | 3,881,000 | ||||
Initial Cost Buildings and Fixtures | 24,267,000 | ||||
Gross Amount, Land | 3,881,000 | ||||
Gross Amount, Buildings and Fixtures | 25,194,000 | ||||
Total | 29,075,000 | ||||
Accumulated Depreciation | (2,642,000) | ||||
Net | $ 26,433,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Grand Cypress [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Grand Cypress [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Courtyards at Campbell | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 988,000 | ||||
Initial Cost Buildings and Fixtures | 8,893,000 | ||||
Gross Amount, Land | 988,000 | ||||
Gross Amount, Buildings and Fixtures | 12,369,000 | ||||
Total | 13,357,000 | ||||
Accumulated Depreciation | (7,562,000) | ||||
Net | $ 5,795,000 | ||||
Date of Construction | Dec. 31, 1986 | ||||
Total Residential Properties | Courtyards at Campbell | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Courtyards at Campbell | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Deer Run | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,252,000 | ||||
Initial Cost Buildings and Fixtures | 11,271,000 | ||||
Gross Amount, Land | 1,252,000 | ||||
Gross Amount, Buildings and Fixtures | 15,654,000 | ||||
Total | 16,906,000 | ||||
Accumulated Depreciation | (9,517,000) | ||||
Net | $ 7,389,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Deer Run | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Deer Run | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Grand Courtyard | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,730,000 | ||||
Initial Cost Buildings and Fixtures | 22,240,000 | ||||
Gross Amount, Land | 2,730,000 | ||||
Gross Amount, Buildings and Fixtures | 24,868,000 | ||||
Total | 27,598,000 | ||||
Accumulated Depreciation | (9,366,000) | ||||
Net | $ 18,232,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Grand Courtyard | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Grand Courtyard | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Legends at Lowe's Farm | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,016,000 | ||||
Initial Cost Buildings and Fixtures | 41,091,000 | ||||
Gross Amount, Land | 5,016,000 | ||||
Gross Amount, Buildings and Fixtures | 42,972,000 | ||||
Total | 47,988,000 | ||||
Accumulated Depreciation | (8,011,000) | ||||
Net | $ 39,977,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Legends at Lowe's Farm | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Legends at Lowe's Farm | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Reserve at Medical District | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,050,000 | ||||
Initial Cost Buildings and Fixtures | 33,779,000 | ||||
Gross Amount, Land | 4,050,000 | ||||
Gross Amount, Buildings and Fixtures | 35,110,000 | ||||
Total | 39,160,000 | ||||
Accumulated Depreciation | (4,402,000) | ||||
Net | $ 34,758,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Total Residential Properties | Colonial Reserve at Medical District | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Reserve at Medical District | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Watermark | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 960,000 | ||||
Initial Cost Buildings and Fixtures | 14,438,000 | ||||
Gross Amount, Land | 960,000 | ||||
Gross Amount, Buildings and Fixtures | 16,691,000 | ||||
Total | 17,651,000 | ||||
Accumulated Depreciation | (7,161,000) | ||||
Net | $ 10,490,000 | ||||
Date of Construction | Dec. 31, 2002 | ||||
Total Residential Properties | Watermark | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Watermark | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Main Park [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Main Park [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Bear Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 22,568,000 | ||||
Initial Cost Land | 6,453,000 | ||||
Initial Cost Buildings and Fixtures | 30,048,000 | ||||
Gross Amount, Land | 6,453,000 | ||||
Gross Amount, Buildings and Fixtures | 32,203,000 | ||||
Total | 38,656,000 | ||||
Accumulated Depreciation | (5,161,000) | ||||
Net | $ 33,495,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Total Residential Properties | Colonial Grand at Bear Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Bear Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Fairview | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,171,000 | ||||
Initial Cost Buildings and Fixtures | 35,077,000 | ||||
Gross Amount, Land | 2,171,000 | ||||
Gross Amount, Buildings and Fixtures | 35,658,000 | ||||
Total | 37,829,000 | ||||
Accumulated Depreciation | (4,648,000) | ||||
Net | $ 33,181,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Total Residential Properties | Colonial Grand at Fairview | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Fairview | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | La Valencia at Starwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 20,510,000 | ||||
Initial Cost Land | 3,240,000 | ||||
Initial Cost Buildings and Fixtures | 26,069,000 | ||||
Gross Amount, Land | 3,240,000 | ||||
Gross Amount, Buildings and Fixtures | 27,283,000 | ||||
Total | 30,523,000 | ||||
Accumulated Depreciation | (6,049,000) | ||||
Net | $ 24,474,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | La Valencia at Starwood | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | La Valencia at Starwood | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Cityscape at Market Center II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 8,268,000 | ||||
Initial Cost Buildings and Fixtures | 50,298,000 | ||||
Gross Amount, Land | 8,268,000 | ||||
Gross Amount, Buildings and Fixtures | 50,805,000 | ||||
Total | 59,073,000 | ||||
Accumulated Depreciation | (1,412,000) | ||||
Net | $ 57,661,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Cityscape at Market Center II [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Cityscape at Market Center II [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Reserve at Frisco Bridges | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,968,000 | ||||
Initial Cost Buildings and Fixtures | 34,018,000 | ||||
Gross Amount, Land | 1,968,000 | ||||
Gross Amount, Buildings and Fixtures | 35,023,000 | ||||
Total | 36,991,000 | ||||
Accumulated Depreciation | (4,489,000) | ||||
Net | $ 32,502,000 | ||||
Date of Construction | Dec. 31, 2013 | ||||
Total Residential Properties | Colonial Reserve at Frisco Bridges | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Reserve at Frisco Bridges | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Grapevine | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,351,000 | ||||
Initial Cost Buildings and Fixtures | 29,757,000 | ||||
Gross Amount, Land | 2,351,000 | ||||
Gross Amount, Buildings and Fixtures | 33,746,000 | ||||
Total | 36,097,000 | ||||
Accumulated Depreciation | (4,811,000) | ||||
Net | 31,286,000 | ||||
Total Residential Properties | Colonial Village at Grapevine | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Grapevine | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Greenwood Forest | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 3,465,000 | ||||
Initial Cost Buildings and Fixtures | 23,482,000 | ||||
Gross Amount, Land | 3,465,000 | ||||
Gross Amount, Buildings and Fixtures | 23,554,000 | ||||
Total | 27,019,000 | ||||
Accumulated Depreciation | (3,071,000) | ||||
Net | $ 23,948,000 | ||||
Date of Construction | Dec. 31, 1994 | ||||
Total Residential Properties | Greenwood Forest | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Greenwood Forest | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Legacy Pines | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,157,000 | ||||
Initial Cost Buildings and Fixtures | 19,066,000 | ||||
Gross Amount, Land | 2,142,000 | ||||
Gross Amount, Buildings and Fixtures | 22,175,000 | ||||
Total | 24,317,000 | ||||
Accumulated Depreciation | (10,323,000) | ||||
Net | $ 13,994,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Legacy Pines | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Legacy Pines | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Reserve at Woodwind Lakes | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Reserve at Woodwind Lakes | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Park Place (Houston) | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Initial Cost Land | $ 2,061,000 | ||||
Initial Cost Buildings and Fixtures | 15,830,000 | ||||
Gross Amount, Land | 2,061,000 | ||||
Gross Amount, Buildings and Fixtures | 18,754,000 | ||||
Total | 20,815,000 | ||||
Accumulated Depreciation | (6,667,000) | ||||
Net | $ 14,148,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Park Place (Houston) | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Park Place (Houston) | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Ranchstone | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,480,000 | ||||
Initial Cost Buildings and Fixtures | 14,807,000 | ||||
Gross Amount, Land | 1,480,000 | ||||
Gross Amount, Buildings and Fixtures | 17,013,000 | ||||
Total | 18,493,000 | ||||
Accumulated Depreciation | (5,864,000) | ||||
Net | $ 12,629,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Ranchstone | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Ranchstone | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Retreat at Vintage Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 8,211,000 | ||||
Initial Cost Buildings and Fixtures | 40,352,000 | ||||
Gross Amount, Land | 8,211,000 | ||||
Gross Amount, Buildings and Fixtures | 40,859,000 | ||||
Total | 49,070,000 | ||||
Accumulated Depreciation | (2,197,000) | ||||
Net | $ 46,873,000 | ||||
Date of Construction | Dec. 31, 2014 | ||||
Total Residential Properties | Retreat at Vintage Park [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Retreat at Vintage Park [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Cascade at Fall Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,985,000 | ||||
Initial Cost Buildings and Fixtures | 40,011,000 | ||||
Gross Amount, Land | 5,985,000 | ||||
Gross Amount, Buildings and Fixtures | 41,944,000 | ||||
Total | 47,929,000 | ||||
Accumulated Depreciation | (13,492,000) | ||||
Net | $ 34,437,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Total Residential Properties | Cascade at Fall Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Cascade at Fall Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Chalet at Fall Creek | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Chalet at Fall Creek | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Bella Casita at Las Colinas | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,521,000 | ||||
Initial Cost Buildings and Fixtures | 26,432,000 | ||||
Gross Amount, Land | 2,521,000 | ||||
Gross Amount, Buildings and Fixtures | 28,158,000 | ||||
Total | 30,679,000 | ||||
Accumulated Depreciation | (5,978,000) | ||||
Net | $ 24,701,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Total Residential Properties | Bella Casita at Las Colinas | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Bella Casita at Las Colinas | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Remington Hills | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,390,000 | ||||
Initial Cost Buildings and Fixtures | 21,822,000 | ||||
Gross Amount, Land | 4,390,000 | ||||
Gross Amount, Buildings and Fixtures | 29,230,000 | ||||
Total | 33,620,000 | ||||
Accumulated Depreciation | (4,049,000) | ||||
Net | $ 29,571,000 | ||||
Date of Construction | Dec. 31, 1984 | ||||
Total Residential Properties | Remington Hills | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Remington Hills | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Reserve at Las Colinas | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,902,000 | ||||
Initial Cost Buildings and Fixtures | 40,691,000 | ||||
Gross Amount, Land | 3,902,000 | ||||
Gross Amount, Buildings and Fixtures | 41,916,000 | ||||
Total | 45,818,000 | ||||
Accumulated Depreciation | (5,332,000) | ||||
Net | $ 40,486,000 | ||||
Date of Construction | Dec. 31, 2006 | ||||
Total Residential Properties | Colonial Reserve at Las Colinas | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Reserve at Las Colinas | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Valley Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 23,690,000 | ||||
Initial Cost Land | 5,072,000 | ||||
Initial Cost Buildings and Fixtures | 37,397,000 | ||||
Gross Amount, Land | 5,072,000 | ||||
Gross Amount, Buildings and Fixtures | 44,991,000 | ||||
Total | 50,063,000 | ||||
Accumulated Depreciation | (6,544,000) | ||||
Net | $ 43,519,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Colonial Grand at Valley Ranch | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Valley Ranch | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Lane At Towne Crossing [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Lane At Towne Crossing [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Oakbend | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [2] | $ 0 | |||
Initial Cost Land | 5,598,000 | ||||
Initial Cost Buildings and Fixtures | 28,616,000 | ||||
Gross Amount, Land | 5,598,000 | ||||
Gross Amount, Buildings and Fixtures | 31,461,000 | ||||
Total | 37,059,000 | ||||
Accumulated Depreciation | (4,673,000) | ||||
Net | $ 32,386,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Colonial Village at Oakbend | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Oakbend | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Times Square at Craig Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,130,000 | ||||
Initial Cost Buildings and Fixtures | 28,058,000 | ||||
Gross Amount, Land | 1,130,000 | ||||
Gross Amount, Buildings and Fixtures | 31,440,000 | ||||
Total | 32,570,000 | ||||
Accumulated Depreciation | (7,329,000) | ||||
Net | $ 25,241,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Times Square at Craig Ranch | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Times Square at Craig Ranch | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Venue at Stonebridge Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 14,152,000 | ||||
Initial Cost Land | 4,034,000 | ||||
Initial Cost Buildings and Fixtures | 19,528,000 | ||||
Gross Amount, Land | 4,034,000 | ||||
Gross Amount, Buildings and Fixtures | 20,031,000 | ||||
Total | 24,065,000 | ||||
Accumulated Depreciation | (2,113,000) | ||||
Net | $ 21,952,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Venue at Stonebridge Ranch | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Venue at Stonebridge Ranch | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Highwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 864,000 | ||||
Initial Cost Buildings and Fixtures | 7,783,000 | ||||
Gross Amount, Land | 864,000 | ||||
Gross Amount, Buildings and Fixtures | 10,818,000 | ||||
Total | 11,682,000 | ||||
Accumulated Depreciation | (6,667,000) | ||||
Net | $ 5,015,000 | ||||
Date of Construction | Dec. 31, 1983 | ||||
Total Residential Properties | Highwood | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Highwood | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Cityscape at Market Center [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 8,626,000 | ||||
Initial Cost Buildings and Fixtures | 60,407,000 | ||||
Gross Amount, Land | 8,626,000 | ||||
Gross Amount, Buildings and Fixtures | 61,053,000 | ||||
Total | 69,679,000 | ||||
Accumulated Depreciation | (4,101,000) | ||||
Net | $ 65,578,000 | ||||
Date of Construction | Dec. 31, 2013 | ||||
Total Residential Properties | Cityscape at Market Center [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Cityscape at Market Center [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Los Rios Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Total Residential Properties | Los Rios Park [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Los Rios Park [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Boulder Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 3,382,000 | ||||
Initial Cost Buildings and Fixtures | 26,930,000 | ||||
Gross Amount, Land | 3,382,000 | ||||
Gross Amount, Buildings and Fixtures | 32,477,000 | ||||
Total | 35,859,000 | ||||
Accumulated Depreciation | (12,766,000) | ||||
Net | $ 23,093,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Boulder Ridge | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Boulder Ridge | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Copper Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,166,000 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 4,166,000 | ||||
Gross Amount, Buildings and Fixtures | 21,471,000 | ||||
Total | 25,637,000 | ||||
Accumulated Depreciation | (4,581,000) | ||||
Net | $ 21,056,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Copper Ridge | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Copper Ridge | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Ashton Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,511,000 | ||||
Initial Cost Buildings and Fixtures | 36,241,000 | ||||
Gross Amount, Land | 5,511,000 | ||||
Gross Amount, Buildings and Fixtures | 37,580,000 | ||||
Total | 43,091,000 | ||||
Accumulated Depreciation | (5,364,000) | ||||
Net | $ 37,727,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Colonial Grand at Ashton Oaks | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Ashton Oaks | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Round Rock | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 23,752,000 | ||||
Initial Cost Land | 4,691,000 | ||||
Initial Cost Buildings and Fixtures | 45,379,000 | ||||
Gross Amount, Land | 4,691,000 | ||||
Gross Amount, Buildings and Fixtures | 47,040,000 | ||||
Total | 51,731,000 | ||||
Accumulated Depreciation | (6,525,000) | ||||
Net | $ 45,206,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Colonial Grand at Round Rock | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Round Rock | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Cobblestone Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 10,990,000 | ||||
Initial Cost Buildings and Fixtures | 48,696,000 | ||||
Gross Amount, Land | 10,990,000 | ||||
Gross Amount, Buildings and Fixtures | 50,504,000 | ||||
Total | 61,494,000 | ||||
Accumulated Depreciation | (1,540,000) | ||||
Net | $ 59,954,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Total Residential Properties | Station Square at Cosner's Corner II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,245,000 | ||||
Initial Cost Buildings and Fixtures | 15,378,000 | ||||
Gross Amount, Land | 4,245,000 | ||||
Gross Amount, Buildings and Fixtures | 15,565,000 | ||||
Total | 19,810,000 | ||||
Accumulated Depreciation | (322,000) | ||||
Net | $ 19,488,000 | ||||
Date of Construction | Dec. 31, 2016 | ||||
Total Residential Properties | Colonial Village at Sierra Vista | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 11,594,000 | ||||
Initial Cost Land | 2,561,000 | ||||
Initial Cost Buildings and Fixtures | 16,488,000 | ||||
Gross Amount, Land | 2,561,000 | ||||
Gross Amount, Buildings and Fixtures | 19,140,000 | ||||
Total | 21,701,000 | ||||
Accumulated Depreciation | (2,857,000) | ||||
Net | $ 18,844,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Colonial Village at Sierra Vista | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Sierra Vista | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Alamo Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,380,000 | ||||
Initial Cost Buildings and Fixtures | 26,982,000 | ||||
Gross Amount, Land | 2,380,000 | ||||
Gross Amount, Buildings and Fixtures | 29,195,000 | ||||
Total | 31,575,000 | ||||
Accumulated Depreciation | (6,200,000) | ||||
Net | $ 25,375,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Alamo Ranch | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Alamo Ranch | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Haven at Blanco | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,450,000 | ||||
Initial Cost Buildings and Fixtures | 45,958,000 | ||||
Gross Amount, Land | 5,450,000 | ||||
Gross Amount, Buildings and Fixtures | 48,185,000 | ||||
Total | 53,635,000 | ||||
Accumulated Depreciation | (7,409,000) | ||||
Net | $ 46,226,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Total Residential Properties | Haven at Blanco | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Haven at Blanco | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Stone Ranch at Westover Hills | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 18,197,000 | ||||
Initial Cost Land | 4,000,000 | ||||
Initial Cost Buildings and Fixtures | 24,992,000 | ||||
Gross Amount, Land | 4,000,000 | ||||
Gross Amount, Buildings and Fixtures | 27,211,000 | ||||
Total | 31,211,000 | ||||
Accumulated Depreciation | (6,727,000) | ||||
Net | $ 24,484,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Stone Ranch at Westover Hills | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Stone Ranch at Westover Hills | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Bulverde Oaks [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [2] | $ 0 | |||
Initial Cost Land | 4,257,000 | ||||
Initial Cost Buildings and Fixtures | 36,759,000 | ||||
Gross Amount, Land | 4,257,000 | ||||
Gross Amount, Buildings and Fixtures | 37,547,000 | ||||
Total | 41,804,000 | ||||
Accumulated Depreciation | (2,134,000) | ||||
Net | $ 39,670,000 | ||||
Date of Construction | Dec. 31, 2014 | ||||
Total Residential Properties | Bulverde Oaks [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Bulverde Oaks [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Cypresswood Court | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 576,000 | ||||
Initial Cost Buildings and Fixtures | 5,190,000 | ||||
Gross Amount, Land | 576,000 | ||||
Gross Amount, Buildings and Fixtures | 8,293,000 | ||||
Total | 8,869,000 | ||||
Accumulated Depreciation | (5,725,000) | ||||
Net | $ 3,144,000 | ||||
Date of Construction | Dec. 31, 1984 | ||||
Total Residential Properties | Cypresswood Court | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Cypresswood Court | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Villages At Kirkwood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,918,000 | ||||
Initial Cost Buildings and Fixtures | 15,846,000 | ||||
Gross Amount, Land | 1,918,000 | ||||
Gross Amount, Buildings and Fixtures | 18,346,000 | ||||
Total | 20,264,000 | ||||
Accumulated Depreciation | (7,725,000) | ||||
Net | $ 12,539,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Villages At Kirkwood [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Villages At Kirkwood [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Green Tree Place | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 539,000 | ||||
Initial Cost Buildings and Fixtures | 4,850,000 | ||||
Gross Amount, Land | 539,000 | ||||
Gross Amount, Buildings and Fixtures | 8,035,000 | ||||
Total | 8,574,000 | ||||
Accumulated Depreciation | (5,406,000) | ||||
Net | $ 3,168,000 | ||||
Date of Construction | Dec. 31, 1984 | ||||
Total Residential Properties | Green Tree Place | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Green Tree Place | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Retreat at West Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,112,000 | ||||
Initial Cost Buildings and Fixtures | 36,136,000 | ||||
Gross Amount, Land | 7,112,000 | ||||
Gross Amount, Buildings and Fixtures | 36,799,000 | ||||
Total | 43,911,000 | ||||
Accumulated Depreciation | (1,509,000) | ||||
Net | $ 42,402,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Retreat at West Creek [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Retreat at West Creek [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Adalay Bay | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,280,000 | ||||
Initial Cost Buildings and Fixtures | 31,341,000 | ||||
Gross Amount, Land | 5,280,000 | ||||
Gross Amount, Buildings and Fixtures | 33,534,000 | ||||
Total | 38,814,000 | ||||
Accumulated Depreciation | (5,695,000) | ||||
Net | $ 33,119,000 | ||||
Date of Construction | Dec. 31, 2002 | ||||
Total Residential Properties | Adalay Bay | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Adalay Bay | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Greenbrier | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,842,000 | ||||
Initial Cost Buildings and Fixtures | 21,677,000 | ||||
Gross Amount, Land | 4,842,000 | ||||
Gross Amount, Buildings and Fixtures | 22,725,000 | ||||
Total | 27,567,000 | ||||
Accumulated Depreciation | (3,036,000) | ||||
Net | $ 24,531,000 | ||||
Date of Construction | Dec. 31, 1980 | ||||
Total Residential Properties | Colonial Village at Greenbrier | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Greenbrier | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Radius [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,040,000 | ||||
Initial Cost Buildings and Fixtures | 36,481,000 | ||||
Gross Amount, Land | 5,040,000 | ||||
Gross Amount, Buildings and Fixtures | 37,332,000 | ||||
Total | 42,372,000 | ||||
Accumulated Depreciation | (1,378,000) | ||||
Net | $ 40,994,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Total Residential Properties | Radius [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Radius [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Seasons at Celebrate Virginia | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 14,490,000 | ||||
Initial Cost Buildings and Fixtures | 32,083,000 | ||||
Gross Amount, Land | 14,490,000 | ||||
Gross Amount, Buildings and Fixtures | 70,819,000 | ||||
Total | 85,309,000 | ||||
Accumulated Depreciation | (8,852,000) | ||||
Net | $ 76,457,000 | ||||
Date of Construction | Dec. 31, 2011 | ||||
Total Residential Properties | Seasons at Celebrate Virginia | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Seasons at Celebrate Virginia | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Post Carlyle Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 29,788,000 | ||||
Initial Cost Buildings and Fixtures | 154,607,000 | ||||
Gross Amount, Land | 29,788,000 | ||||
Gross Amount, Buildings and Fixtures | 154,721,000 | ||||
Total | 184,509,000 | ||||
Accumulated Depreciation | (480,000) | ||||
Net | 184,029,000 | ||||
Total Residential Properties | Post Corners at Trinity Centre [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 37,611,000 | ||||
Initial Cost Land | 7,679,000 | ||||
Initial Cost Buildings and Fixtures | 70,149,000 | ||||
Gross Amount, Land | 7,679,000 | ||||
Gross Amount, Buildings and Fixtures | 70,203,000 | ||||
Total | 77,882,000 | ||||
Accumulated Depreciation | (216,000) | ||||
Net | $ 77,666,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Fallsgrove [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 17,559,000 | ||||
Initial Cost Buildings and Fixtures | 59,010,000 | ||||
Gross Amount, Land | 17,559,000 | ||||
Gross Amount, Buildings and Fixtures | 59,067,000 | ||||
Total | 76,626,000 | ||||
Accumulated Depreciation | (192,000) | ||||
Net | $ 76,434,000 | ||||
Date of Construction | Dec. 31, 2003 | ||||
Total Residential Properties | Post Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,365,000 | ||||
Initial Cost Buildings and Fixtures | 79,970,000 | ||||
Gross Amount, Land | 5,365,000 | ||||
Gross Amount, Buildings and Fixtures | 80,036,000 | ||||
Total | 85,401,000 | ||||
Accumulated Depreciation | (356,000) | ||||
Net | $ 85,045,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Total Residential Properties | Post Pentagon Row [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 30,513,000 | ||||
Initial Cost Buildings and Fixtures | 125,332,000 | ||||
Gross Amount, Land | 30,513,000 | ||||
Gross Amount, Buildings and Fixtures | 125,427,000 | ||||
Total | 155,940,000 | ||||
Accumulated Depreciation | (409,000) | ||||
Net | $ 155,531,000 | ||||
Date of Construction | Dec. 31, 2001 | ||||
Total Residential Properties | Post Tysons Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 30,838,000 | ||||
Initial Cost Buildings and Fixtures | 82,180,000 | ||||
Gross Amount, Land | 30,838,000 | ||||
Gross Amount, Buildings and Fixtures | 82,253,000 | ||||
Total | 113,091,000 | ||||
Accumulated Depreciation | (260,000) | ||||
Net | $ 112,831,000 | ||||
Date of Construction | Dec. 31, 1990 | ||||
Total Residential Properties | Stonefield Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 11,044,000 | ||||
Initial Cost Buildings and Fixtures | 36,689,000 | ||||
Gross Amount, Land | 11,044,000 | ||||
Gross Amount, Buildings and Fixtures | 37,115,000 | ||||
Total | 48,159,000 | ||||
Accumulated Depreciation | (2,484,000) | ||||
Net | $ 45,675,000 | ||||
Date of Construction | Dec. 31, 2013 | ||||
Total Residential Properties | Stonefield Commons [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Stonefield Commons [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Station Square at Cosner's Corner | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 8,580,000 | ||||
Initial Cost Buildings and Fixtures | 35,700,000 | ||||
Gross Amount, Land | 8,580,000 | ||||
Gross Amount, Buildings and Fixtures | 36,220,000 | ||||
Total | 44,800,000 | ||||
Accumulated Depreciation | (3,379,000) | ||||
Net | $ 41,421,000 | ||||
Date of Construction | Dec. 31, 2013 | ||||
Total Residential Properties | Station Square at Cosner's Corner | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Station Square at Cosner's Corner | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Hampton Glen | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,851,000 | ||||
Initial Cost Buildings and Fixtures | 21,678,000 | ||||
Gross Amount, Land | 4,851,000 | ||||
Gross Amount, Buildings and Fixtures | 23,185,000 | ||||
Total | 28,036,000 | ||||
Accumulated Depreciation | (3,308,000) | ||||
Net | $ 24,728,000 | ||||
Date of Construction | Dec. 31, 1986 | ||||
Total Residential Properties | Colonial Village at Hampton Glen | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Hampton Glen | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at West End | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 11,425,000 | ||||
Initial Cost Land | 4,661,000 | ||||
Initial Cost Buildings and Fixtures | 18,908,000 | ||||
Gross Amount, Land | 4,661,000 | ||||
Gross Amount, Buildings and Fixtures | 20,796,000 | ||||
Total | 25,457,000 | ||||
Accumulated Depreciation | (2,845,000) | ||||
Net | $ 22,612,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Colonial Village at West End | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at West End | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Township | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,509,000 | ||||
Initial Cost Buildings and Fixtures | 8,189,000 | ||||
Gross Amount, Land | 1,509,000 | ||||
Gross Amount, Buildings and Fixtures | 15,842,000 | ||||
Total | 17,351,000 | ||||
Accumulated Depreciation | (9,291,000) | ||||
Net | $ 8,060,000 | ||||
Date of Construction | Dec. 31, 1987 | ||||
Total Residential Properties | Township | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Township | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Tradewinds [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Tradewinds [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Waterford | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,733,000 | ||||
Initial Cost Buildings and Fixtures | 29,221,000 | ||||
Gross Amount, Land | 6,733,000 | ||||
Gross Amount, Buildings and Fixtures | 31,645,000 | ||||
Total | 38,378,000 | ||||
Accumulated Depreciation | (4,709,000) | ||||
Net | $ 33,669,000 | ||||
Date of Construction | Dec. 31, 1989 | ||||
Total Residential Properties | Colonial Village at Waterford | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Waterford | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Ashley Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,761,000 | ||||
Initial Cost Buildings and Fixtures | 13,365,000 | ||||
Gross Amount, Land | 4,761,000 | ||||
Gross Amount, Buildings and Fixtures | 14,679,000 | ||||
Total | 19,440,000 | ||||
Accumulated Depreciation | (2,432,000) | ||||
Net | $ 17,008,000 | ||||
Date of Construction | Dec. 31, 1988 | ||||
Total Residential Properties | Ashley Park | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Ashley Park | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Chase Gayton | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,021,000 | ||||
Initial Cost Buildings and Fixtures | 29,004,000 | ||||
Gross Amount, Land | 6,021,000 | ||||
Gross Amount, Buildings and Fixtures | 30,495,000 | ||||
Total | 36,516,000 | ||||
Accumulated Depreciation | (4,533,000) | ||||
Net | $ 31,983,000 | ||||
Date of Construction | Dec. 31, 1984 | ||||
Total Residential Properties | Colonial Village at Chase Gayton | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Chase Gayton | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Hamptons at Hunton Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,930,000 | ||||
Initial Cost Buildings and Fixtures | 35,598,000 | ||||
Gross Amount, Land | 4,930,000 | ||||
Gross Amount, Buildings and Fixtures | 38,561,000 | ||||
Total | 43,491,000 | ||||
Accumulated Depreciation | (7,722,000) | ||||
Net | $ 35,769,000 | ||||
Date of Construction | Dec. 31, 2003 | ||||
Total Residential Properties | Hamptons at Hunton Park | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Hamptons at Hunton Park | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Harbour Club [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Harbour Club [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Lake Mary Phase III | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Lake Mary Phase III | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Randal Lakes | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,659,000 | ||||
Initial Cost Buildings and Fixtures | 50,553,000 | ||||
Gross Amount, Land | 5,659,000 | ||||
Gross Amount, Buildings and Fixtures | 61,097,000 | ||||
Total | 66,756,000 | ||||
Accumulated Depreciation | (4,479,000) | ||||
Net | $ 62,277,000 | ||||
Date of Construction | Dec. 31, 2013 | ||||
Total Residential Properties | Colonial Grand at Randal Lakes | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Randal Lakes | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Post Lake at Baldwin Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 18,137,000 | ||||
Initial Cost Buildings and Fixtures | 144,474,000 | ||||
Gross Amount, Land | 18,137,000 | ||||
Gross Amount, Buildings and Fixtures | 144,603,000 | ||||
Total | 162,740,000 | ||||
Accumulated Depreciation | (479,000) | ||||
Net | $ 162,261,000 | ||||
Date of Construction | Dec. 31, 2011 | ||||
Total Residential Properties | Post Lakeside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,060,000 | ||||
Initial Cost Buildings and Fixtures | 52,688,000 | ||||
Gross Amount, Land | 7,060,000 | ||||
Gross Amount, Buildings and Fixtures | 52,727,000 | ||||
Total | 59,787,000 | ||||
Accumulated Depreciation | (157,000) | ||||
Net | $ 59,630,000 | ||||
Date of Construction | Dec. 31, 2013 | ||||
Total Residential Properties | Post Parkside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 11,047,000 | ||||
Initial Cost Buildings and Fixtures | 34,345,000 | ||||
Gross Amount, Land | 11,047,000 | ||||
Gross Amount, Buildings and Fixtures | 34,372,000 | ||||
Total | 45,419,000 | ||||
Accumulated Depreciation | (102,000) | ||||
Net | $ 45,317,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Post Peachtree Hills [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 11,998,000 | ||||
Initial Cost Buildings and Fixtures | 55,372,000 | ||||
Gross Amount, Land | 11,998,000 | ||||
Gross Amount, Buildings and Fixtures | 55,422,000 | ||||
Total | 67,420,000 | ||||
Accumulated Depreciation | (171,000) | ||||
Net | 67,249,000 | ||||
Total Residential Properties | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 23,813,000 | ||||
Initial Cost Buildings and Fixtures | 89,532,000 | ||||
Gross Amount, Land | 23,813,000 | ||||
Gross Amount, Buildings and Fixtures | 89,649,000 | ||||
Total | 113,462,000 | ||||
Accumulated Depreciation | (332,000) | ||||
Net | $ 113,130,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Spring [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 18,634,000 | ||||
Initial Cost Buildings and Fixtures | 57,927,000 | ||||
Gross Amount, Land | 18,634,000 | ||||
Gross Amount, Buildings and Fixtures | 57,992,000 | ||||
Total | 76,626,000 | ||||
Accumulated Depreciation | (204,000) | ||||
Net | $ 76,422,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Post Stratford [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 0 | ||||
Initial Cost Buildings and Fixtures | 30,107,000 | ||||
Gross Amount, Land | 0 | ||||
Gross Amount, Buildings and Fixtures | 30,130,000 | ||||
Total | 30,130,000 | ||||
Accumulated Depreciation | (104,000) | ||||
Net | $ 30,026,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Colonial Village at Chancellor Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | $ 0 | |||
Initial Cost Land | 5,311,000 | ||||
Initial Cost Buildings and Fixtures | 28,016,000 | ||||
Gross Amount, Land | 5,311,000 | ||||
Gross Amount, Buildings and Fixtures | 30,648,000 | ||||
Total | 35,959,000 | ||||
Accumulated Depreciation | (4,161,000) | ||||
Net | $ 31,798,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Colonial Village at Chancellor Park [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Chancellor Park [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Bellevue (Phase II) | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 8,656,000 | ||||
Initial Cost Buildings and Fixtures | 29,967,000 | ||||
Gross Amount, Land | 8,656,000 | ||||
Gross Amount, Buildings and Fixtures | 30,031,000 | ||||
Total | 38,687,000 | ||||
Accumulated Depreciation | (1,294,000) | ||||
Net | $ 37,393,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Colonial Grand at Bellevue (Phase II) | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Bellevue (Phase II) | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | 220 Riverside | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 2,500,000 | ||||
Initial Cost Buildings and Fixtures | 38,416,000 | ||||
Gross Amount, Land | 2,500,000 | ||||
Gross Amount, Buildings and Fixtures | 40,596,000 | ||||
Total | 43,096,000 | ||||
Accumulated Depreciation | (1,362,000) | ||||
Net | $ 41,734,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | 220 Riverside | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | 220 Riverside | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | River's Walk II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,631,000 | ||||
Initial Cost Buildings and Fixtures | 10,748,000 | ||||
Gross Amount, Land | 3,631,000 | ||||
Gross Amount, Buildings and Fixtures | 10,756,000 | ||||
Total | 14,387,000 | ||||
Accumulated Depreciation | (130,000) | ||||
Net | $ 14,257,000 | ||||
Date of Construction | Dec. 31, 2016 | ||||
Total Residential Properties | Colonial Grand at Mallard Lake [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 19,942,000 | ||||
Initial Cost Land | 3,250,000 | ||||
Initial Cost Buildings and Fixtures | 31,389,000 | ||||
Gross Amount, Land | 3,250,000 | ||||
Gross Amount, Buildings and Fixtures | 33,716,000 | ||||
Total | 36,966,000 | ||||
Accumulated Depreciation | (4,907,000) | ||||
Net | $ 32,059,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Total Residential Properties | Colonial Grand at Mallard Lake [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Mallard Lake [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at University Center [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,620,000 | ||||
Initial Cost Buildings and Fixtures | 17,499,000 | ||||
Gross Amount, Land | 1,620,000 | ||||
Gross Amount, Buildings and Fixtures | 18,010,000 | ||||
Total | 19,630,000 | ||||
Accumulated Depreciation | (2,437,000) | ||||
Net | $ 17,193,000 | ||||
Date of Construction | Dec. 31, 2005 | ||||
Total Residential Properties | Colonial Grand at University Center [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at University Center [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Reserve at South End (Charlotte, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,628,000 | ||||
Initial Cost Buildings and Fixtures | 44,282,000 | ||||
Gross Amount, Land | 4,628,000 | ||||
Gross Amount, Buildings and Fixtures | 55,288,000 | ||||
Total | 59,916,000 | ||||
Accumulated Depreciation | (3,868,000) | ||||
Net | $ 56,048,000 | ||||
Date of Construction | Dec. 31, 2013 | ||||
Total Residential Properties | Colonial Reserve at South End (Charlotte, NC) [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Reserve at South End (Charlotte, NC) [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Grand at Cypress Cove [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,610,000 | ||||
Initial Cost Buildings and Fixtures | 28,645,000 | ||||
Gross Amount, Land | 3,610,000 | ||||
Gross Amount, Buildings and Fixtures | 30,109,000 | ||||
Total | 33,719,000 | ||||
Accumulated Depreciation | (4,347,000) | ||||
Net | $ 29,372,000 | ||||
Date of Construction | Dec. 31, 2001 | ||||
Total Residential Properties | Colonial Grand at Cypress Cove [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Grand at Cypress Cove [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Colonial Village at Hampton Pointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 3,971,000 | ||||
Initial Cost Buildings and Fixtures | 22,790,000 | ||||
Gross Amount, Land | 3,971,000 | ||||
Gross Amount, Buildings and Fixtures | 25,902,000 | ||||
Total | 29,873,000 | ||||
Accumulated Depreciation | (3,680,000) | ||||
Net | $ 26,193,000 | ||||
Date of Construction | Dec. 31, 1986 | ||||
Total Residential Properties | Colonial Village at Hampton Pointe [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Colonial Village at Hampton Pointe [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | $ 6,248,000 | ||||
Total Residential Properties | Land | Colonial Grand at Quarterdeck [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Westchase [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | River's Walk [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | 1201 Midtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Fairways [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Paddock Club Columbia [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Tanglewood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Birchall at Ross Bridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Riverchase Trails | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Trussville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Eagle Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Traditions | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Edgewater | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Paddock Club Huntsville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 830,000 | ||||
Total Residential Properties | Land | Colonial Grand at Madison | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Paddock Club Montgomery | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Cypress Village at Cypress Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Liberty Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at OldTown Scottsdale [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Calais Forest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | SkySong [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Napa Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Palisades At Chenal Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Ridge at Chenal Valley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Westside Creek I & II | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Edge at Lyon's Gate | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Residences at Fountainhead [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Sky View Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Talus Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Inverness Commons | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Scottsdale | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Tiffany Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Indigo Point | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Paddock Club Brandon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Lakewood Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Preserve at Coral Square | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Paddock Club Gainesville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | The Retreat at Magnolia Parke | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Heathrow | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Atlantic Crossing | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Cooper's Hawk | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Hunter's Ridge at Deerwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Lakeside | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Lighthouse at Fleming Island | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Paddock Club Mandarin | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | St Augustine | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | St Augustine II | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Tattersall at Tapestry Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Woodhollow | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | (8,000) | ||||
Total Residential Properties | Land | Paddock Club Lakeland | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Lake Mary | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Town Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Town Park Reserve | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Retreat at Lake Nona | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Heather Glen | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | The Club at Panama Beach | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | (5,000) | ||||
Total Residential Properties | Land | Colonial Village at Twin Lakes | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Paddock Club Tallahassee | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 950,000 | ||||
Total Residential Properties | Land | Verandas at Southwood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Belmere | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Links at Carrollwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 110,000 | ||||
Total Residential Properties | Land | Post Bay at Rocky Point [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Harbour Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Hyde Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Rocky Point [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Soho Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Village Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 153,000 | ||||
Total Residential Properties | Land | Colonial Grand at Hampton Preserve | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Seven Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Windermere | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Park Crest At Innisbrook | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Allure at Brookwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Allure in Buckhead Village Residential | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | The High Rise at Post Alexander [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Alexander [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Briarcliff [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Brookhaven [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Chastain [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Crossing [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Gardens [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Glen [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Sanctuary At Oglethorpe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Terraces at Fieldstone | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Prescott | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Berkeley Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Lake Lanier Club I [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at River Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Lake Lanier Club II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at River Plantation | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at McDaniel Farm | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Pleasant Hill | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Mount Vernon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Shiloh | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Milstead Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Barrett Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Godley Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Godley Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Avala at Savannah Quarters | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Georgetown Grove | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Hammocks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Haven at Prairie Trace [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Greentree | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Grand Reserve at Pinnacle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Huntington | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Marsh Cove | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Oaks at Wilmington Island | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | (46,000) | ||||
Total Residential Properties | Land | Highlands of West Village I [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Highlands of West Village II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Terraces At Townelake [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,688,000 | ||||
Total Residential Properties | Land | Residences at Burlington Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Lakepointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | The Denton [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Mansion [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Stonemill Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Crosswinds [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Pear Orchard [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Reflection Pointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 138,000 | ||||
Total Residential Properties | Land | Lakeshore Landing [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Market Station [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Desert Vista [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Palm Vista [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Beaver Creek (Raleigh, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Hermitage at Beechtree | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Waterford Forest | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | 1225 South Church I | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Ayrsley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Beverly Crest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Legacy Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Mallard Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at South Tryon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Timber Crest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Enclave [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Ballantyne [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Gateway Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Park at Phillips Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Parkside at Wade [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Parkside Orlando [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post South End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Uptown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Cornelius [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Patterson Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Deerfield [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Research Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Huntersville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Matthews [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Matthews Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Arringdon [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Brier Creek (Raleigh, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Brier Falls (Raleigh, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Crabtree Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Hue [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Trinity Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Preserve At Brier Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | (19,000) | ||||
Total Residential Properties | Land | Providence At Brier Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Park Haywood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 35,000 | ||||
Total Residential Properties | Land | Spring Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | (14,000) | ||||
Total Residential Properties | Land | Innovation Apartment Homes [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Paddock Club Greenville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Howell Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Highland Ridge [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Windsor Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Woodwinds [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Runaway Bay | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 12,000 | ||||
Total Residential Properties | Land | Colonial Grand at Commerce Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | 535 Brookwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Park Place | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Farmington Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Waters Edge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Hamilton Pointe | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Hidden Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Steeplechase | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Windridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Kirby Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Lincoln on the Green | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Park Estate | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Reserve at Dexter Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,147,000 | ||||
Total Residential Properties | Land | Post West Austin [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Park Mesa [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Paddock Club Murfreesboro | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Aventura at Indian Lake Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Avondale at Kennesaw | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Brentwood Downs | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | (2,000) | ||||
Total Residential Properties | Land | Colonial Grand at Bellevue | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Grand View Nashville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Monthaven Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Park at Hermitage | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Venue at Cool Springs | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Verandas at Sam Ridley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Northwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Balcones Woods | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Canyon Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Canyon Pointe | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Abbey [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Cole's Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Double Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Onion Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Eastside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Gallery [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Heights [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Katy Trail [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Legacy [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Meridian [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Sierra at Frisco Bridges [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Uptown Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Vineyard [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Vintage [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Worthington [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Grand Reserve at Sunset Valley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Quarry Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Wells Branch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 294,000 | ||||
Total Residential Properties | Land | Legacy at Western Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post South Lamar [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Barton Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Silverado | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Stassney Woods | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Travis Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Woods, The | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Shoal Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Midtown Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post 510 [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Hebron (Dallas, TX) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Silverado [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Silverado Reserve [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Yale at 6th [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Grand Cypress [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Courtyards at Campbell | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Deer Run | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Grand Courtyard | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Legends at Lowe's Farm | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Reserve at Medical District | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Watermark | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Bear Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Fairview | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | La Valencia at Starwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Cityscape at Market Center II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Reserve at Frisco Bridges | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Grapevine | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Greenwood Forest | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Legacy Pines | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | (15,000) | ||||
Total Residential Properties | Land | Ranchstone | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Retreat at Vintage Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Cascade at Fall Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Bella Casita at Las Colinas | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Remington Hills | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Valley Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Oakbend | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Times Square at Craig Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Venue at Stonebridge Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Highwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Cityscape at Market Center [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Los Rios Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Boulder Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Copper Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Ashton Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Round Rock | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Cobblestone Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Station Square at Cosner's Corner II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Sierra Vista | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Alamo Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Haven at Blanco | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Stone Ranch at Westover Hills | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Bulverde Oaks [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Cypresswood Court | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Green Tree Place | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Retreat at West Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Adalay Bay | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Greenbrier | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Radius [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Seasons at Celebrate Virginia | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Carlyle Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Corners at Trinity Centre [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Fallsgrove [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Pentagon Row [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Tysons Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Stonefield Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Station Square at Cosner's Corner | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Hampton Glen | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at West End | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Township | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Ashley Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Chase Gayton | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Hamptons at Hunton Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Randal Lakes | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Lake at Baldwin Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Lakeside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Parkside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Peachtree Hills [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Spring [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Stratford [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Chancellor Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Bellevue (Phase II) | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | 220 Riverside | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | River's Walk II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Mallard Lake [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at University Center [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Reserve at South End (Charlotte, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Grand at Cypress Cove [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Colonial Village at Hampton Pointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Buildings and Fixtures | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 997,866,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Quarterdeck [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,897,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Westchase [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,932,000 | ||||
Total Residential Properties | Buildings and Fixtures | River's Walk [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 283,000 | ||||
Total Residential Properties | Buildings and Fixtures | 1201 Midtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 50,000 | ||||
Total Residential Properties | Buildings and Fixtures | Fairways [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,230,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Columbia [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,123,000 | ||||
Total Residential Properties | Buildings and Fixtures | Tanglewood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,911,000 | ||||
Total Residential Properties | Buildings and Fixtures | Birchall at Ross Bridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,072,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Riverchase Trails | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,259,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Trussville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,694,000 | ||||
Total Residential Properties | Buildings and Fixtures | Eagle Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,593,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Traditions | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,558,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Edgewater | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,904,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Huntsville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 13,272,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Madison | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,119,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Montgomery | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,769,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cypress Village at Cypress Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 583,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Liberty Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,249,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at OldTown Scottsdale [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,589,000 | ||||
Total Residential Properties | Buildings and Fixtures | Calais Forest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,442,000 | ||||
Total Residential Properties | Buildings and Fixtures | SkySong [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 609,000 | ||||
Total Residential Properties | Buildings and Fixtures | Napa Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,833,000 | ||||
Total Residential Properties | Buildings and Fixtures | Palisades At Chenal Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,941,000 | ||||
Total Residential Properties | Buildings and Fixtures | Ridge at Chenal Valley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 27,222,000 | ||||
Total Residential Properties | Buildings and Fixtures | Westside Creek I & II | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,554,000 | ||||
Total Residential Properties | Buildings and Fixtures | Edge at Lyon's Gate | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,891,000 | ||||
Total Residential Properties | Buildings and Fixtures | Residences at Fountainhead [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 566,000 | ||||
Total Residential Properties | Buildings and Fixtures | Sky View Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,832,000 | ||||
Total Residential Properties | Buildings and Fixtures | Talus Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,153,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Inverness Commons | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,211,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Scottsdale | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,660,000 | ||||
Total Residential Properties | Buildings and Fixtures | Tiffany Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,671,000 | ||||
Total Residential Properties | Buildings and Fixtures | Indigo Point | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,219,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Brandon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,223,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Lakewood Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,515,000 | ||||
Total Residential Properties | Buildings and Fixtures | Preserve at Coral Square | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,573,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Gainesville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,295,000 | ||||
Total Residential Properties | Buildings and Fixtures | The Retreat at Magnolia Parke | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 504,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Heathrow | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,072,000 | ||||
Total Residential Properties | Buildings and Fixtures | Atlantic Crossing | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,393,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cooper's Hawk | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,250,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hunter's Ridge at Deerwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,121,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lakeside | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,341,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lighthouse at Fleming Island | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,769,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Mandarin | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,382,000 | ||||
Total Residential Properties | Buildings and Fixtures | St Augustine | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 19,440,000 | ||||
Total Residential Properties | Buildings and Fixtures | St Augustine II | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Buildings and Fixtures | Tattersall at Tapestry Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 859,000 | ||||
Total Residential Properties | Buildings and Fixtures | Woodhollow | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,356,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Lakeland | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,447,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Lake Mary | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 22,933,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Town Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,341,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Town Park Reserve | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 274,000 | ||||
Total Residential Properties | Buildings and Fixtures | Retreat at Lake Nona | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,484,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Heather Glen | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,473,000 | ||||
Total Residential Properties | Buildings and Fixtures | The Club at Panama Beach | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,476,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Twin Lakes | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,325,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Tallahassee | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 14,079,000 | ||||
Total Residential Properties | Buildings and Fixtures | Verandas at Southwood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 476,000 | ||||
Total Residential Properties | Buildings and Fixtures | Belmere | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,654,000 | ||||
Total Residential Properties | Buildings and Fixtures | Village Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,185,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Hampton Preserve | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 981,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Seven Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,306,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Windermere | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 844,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park Crest At Innisbrook | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,575,000 | ||||
Total Residential Properties | Buildings and Fixtures | Allure at Brookwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,662,000 | ||||
Total Residential Properties | Buildings and Fixtures | Allure in Buckhead Village Residential | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,625,000 | ||||
Total Residential Properties | Buildings and Fixtures | The High Rise at Post Alexander [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 122,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Alexander [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 64,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Briarcliff [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 103,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Brookhaven [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 107,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Chastain [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 83,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Crossing [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 56,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Gardens [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 102,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Glen [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 62,000 | ||||
Total Residential Properties | Buildings and Fixtures | Sanctuary At Oglethorpe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,945,000 | ||||
Total Residential Properties | Buildings and Fixtures | Terraces at Fieldstone | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,464,000 | ||||
Total Residential Properties | Buildings and Fixtures | Prescott | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,216,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Berkeley Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,381,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lake Lanier Club I [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,445,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at River Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,375,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lake Lanier Club II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,151,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at River Plantation | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,525,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at McDaniel Farm | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,710,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Pleasant Hill | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,677,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Mount Vernon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,122,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Shiloh | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,454,000 | ||||
Total Residential Properties | Buildings and Fixtures | Milstead Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 458,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Barrett Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,863,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Godley Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,784,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Godley Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 853,000 | ||||
Total Residential Properties | Buildings and Fixtures | Avala at Savannah Quarters | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,750,000 | ||||
Total Residential Properties | Buildings and Fixtures | Georgetown Grove | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,976,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Hammocks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,164,000 | ||||
Total Residential Properties | Buildings and Fixtures | Haven at Prairie Trace [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 787,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Greentree | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 832,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Huntington | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 573,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Marsh Cove | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 672,000 | ||||
Total Residential Properties | Buildings and Fixtures | Oaks at Wilmington Island | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,429,000 | ||||
Total Residential Properties | Buildings and Fixtures | Highlands of West Village I [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,221,000 | ||||
Total Residential Properties | Buildings and Fixtures | Highlands of West Village II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 78,000 | ||||
Total Residential Properties | Buildings and Fixtures | Terraces At Townelake [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 21,692,000 | ||||
Total Residential Properties | Buildings and Fixtures | Residences at Burlington Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 514,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lakepointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,328,000 | ||||
Total Residential Properties | Buildings and Fixtures | The Denton [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 48,000 | ||||
Total Residential Properties | Buildings and Fixtures | Mansion [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,225,000 | ||||
Total Residential Properties | Buildings and Fixtures | Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,283,000 | ||||
Total Residential Properties | Buildings and Fixtures | Stonemill Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,923,000 | ||||
Total Residential Properties | Buildings and Fixtures | Crosswinds [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,544,000 | ||||
Total Residential Properties | Buildings and Fixtures | Pear Orchard [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,061,000 | ||||
Total Residential Properties | Buildings and Fixtures | Reflection Pointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,275,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lakeshore Landing [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,811,000 | ||||
Total Residential Properties | Buildings and Fixtures | Market Station [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,322,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Desert Vista [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 949,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Palm Vista [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,537,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Beaver Creek (Raleigh, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,275,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hermitage at Beechtree | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,377,000 | ||||
Total Residential Properties | Buildings and Fixtures | Waterford Forest | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,221,000 | ||||
Total Residential Properties | Buildings and Fixtures | 1225 South Church I | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 24,977,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Ayrsley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 12,797,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Beverly Crest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | [1] | 16,462,000 | |||
Initial Cost Land | 3,161,000 | ||||
Initial Cost Buildings and Fixtures | 24,004,000 | ||||
Cost Capitalized subsequent to Acquisition | 2,129,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Legacy Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,646,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Mallard Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 959,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at South Tryon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,121,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Timber Crest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,435,000 | ||||
Total Residential Properties | Buildings and Fixtures | Enclave [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 675,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Ballantyne [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 46,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Gateway Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 56,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Park at Phillips Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 116,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Parkside at Wade [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 37,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Parkside Orlando [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 47,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post South End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 48,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Uptown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 28,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Cornelius [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 848,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Patterson Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,744,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Deerfield [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,016,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Research Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,395,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Huntersville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,300,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Matthews [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,339,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Matthews Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,481,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Arringdon [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,663,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Brier Creek (Raleigh, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,257,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Brier Falls (Raleigh, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,075,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Crabtree Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,208,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hue [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,161,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Trinity Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,084,000 | ||||
Total Residential Properties | Buildings and Fixtures | Preserve At Brier Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 24,242,000 | ||||
Total Residential Properties | Buildings and Fixtures | Providence At Brier Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,561,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park Haywood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,230,000 | ||||
Total Residential Properties | Buildings and Fixtures | Spring Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,879,000 | ||||
Total Residential Properties | Buildings and Fixtures | Innovation Apartment Homes [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 171,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Greenville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,783,000 | ||||
Total Residential Properties | Buildings and Fixtures | Howell Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,263,000 | ||||
Total Residential Properties | Buildings and Fixtures | Highland Ridge [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,406,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Windsor Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,919,000 | ||||
Total Residential Properties | Buildings and Fixtures | Woodwinds [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,029,000 | ||||
Total Residential Properties | Buildings and Fixtures | Runaway Bay | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,913,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Commerce Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,238,000 | ||||
Total Residential Properties | Buildings and Fixtures | 535 Brookwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,057,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park Place | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,973,000 | ||||
Total Residential Properties | Buildings and Fixtures | Farmington Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,543,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Waters Edge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,949,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hamilton Pointe | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,215,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hidden Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,622,000 | ||||
Total Residential Properties | Buildings and Fixtures | Steeplechase | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,055,000 | ||||
Total Residential Properties | Buildings and Fixtures | Windridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,854,000 | ||||
Total Residential Properties | Buildings and Fixtures | Kirby Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 9,713,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lincoln on the Green | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 14,800,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park Estate | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,690,000 | ||||
Total Residential Properties | Buildings and Fixtures | Reserve at Dexter Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 38,978,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post West Austin [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 37,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Park Mesa [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 15,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Murfreesboro | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,950,000 | ||||
Total Residential Properties | Buildings and Fixtures | Aventura at Indian Lake Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,217,000 | ||||
Total Residential Properties | Buildings and Fixtures | Avondale at Kennesaw | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,705,000 | ||||
Total Residential Properties | Buildings and Fixtures | Brentwood Downs | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,091,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Bellevue | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,763,000 | ||||
Total Residential Properties | Buildings and Fixtures | Grand View Nashville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,414,000 | ||||
Total Residential Properties | Buildings and Fixtures | Monthaven Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,821,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park at Hermitage | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,308,000 | ||||
Total Residential Properties | Buildings and Fixtures | Venue at Cool Springs | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 50,973,000 | ||||
Total Residential Properties | Buildings and Fixtures | Verandas at Sam Ridley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,541,000 | ||||
Total Residential Properties | Buildings and Fixtures | Northwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,826,000 | ||||
Total Residential Properties | Buildings and Fixtures | Balcones Woods | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,516,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Canyon Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,305,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Canyon Pointe | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,489,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Abbey [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 157,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Cole's Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 21,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Double Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 443,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Onion Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,080,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Eastside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 46,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Gallery [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 9,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Heights [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 42,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Katy Trail [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 33,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Legacy [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 38,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Meridian [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 20,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Sierra at Frisco Bridges [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 26,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 27,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Uptown Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 48,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Vineyard [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 14,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Vintage [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 14,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Worthington [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 48,000 | ||||
Total Residential Properties | Buildings and Fixtures | Grand Reserve at Sunset Valley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,126,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Quarry Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,799,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Wells Branch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,084,000 | ||||
Total Residential Properties | Buildings and Fixtures | Legacy at Western Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | (1,358,000) | ||||
Total Residential Properties | Buildings and Fixtures | Post South Lamar [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 33,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Barton Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 28,000 | ||||
Total Residential Properties | Buildings and Fixtures | Silverado | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,060,000 | ||||
Total Residential Properties | Buildings and Fixtures | Stassney Woods | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,850,000 | ||||
Total Residential Properties | Buildings and Fixtures | Travis Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,100,000 | ||||
Total Residential Properties | Buildings and Fixtures | Woods, The | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,173,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Shoal Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,402,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Willow Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,927,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Midtown Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 92,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post 510 [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 24,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Hebron (Dallas, TX) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 742,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Silverado [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 930,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Silverado Reserve [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,263,000 | ||||
Total Residential Properties | Buildings and Fixtures | Yale at 6th [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 169,000 | ||||
Total Residential Properties | Buildings and Fixtures | Grand Cypress [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 927,000 | ||||
Total Residential Properties | Buildings and Fixtures | Courtyards at Campbell | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,476,000 | ||||
Total Residential Properties | Buildings and Fixtures | Deer Run | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,383,000 | ||||
Total Residential Properties | Buildings and Fixtures | Grand Courtyard | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,628,000 | ||||
Total Residential Properties | Buildings and Fixtures | Legends at Lowe's Farm | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,881,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Reserve at Medical District | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,331,000 | ||||
Total Residential Properties | Buildings and Fixtures | Watermark | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,253,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Bear Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,155,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Fairview | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 581,000 | ||||
Total Residential Properties | Buildings and Fixtures | La Valencia at Starwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,214,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cityscape at Market Center II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 507,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Reserve at Frisco Bridges | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,005,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Grapevine | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,989,000 | ||||
Total Residential Properties | Buildings and Fixtures | Greenwood Forest | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 72,000 | ||||
Total Residential Properties | Buildings and Fixtures | Legacy Pines | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,109,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park Place (Houston) | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,924,000 | ||||
Total Residential Properties | Buildings and Fixtures | Ranchstone | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,206,000 | ||||
Total Residential Properties | Buildings and Fixtures | Retreat at Vintage Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 507,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cascade at Fall Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,933,000 | ||||
Total Residential Properties | Buildings and Fixtures | Bella Casita at Las Colinas | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,726,000 | ||||
Total Residential Properties | Buildings and Fixtures | Remington Hills | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,408,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Reserve at Las Colinas | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,225,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Valley Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,594,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Oakbend | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,845,000 | ||||
Total Residential Properties | Buildings and Fixtures | Times Square at Craig Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,382,000 | ||||
Total Residential Properties | Buildings and Fixtures | Venue at Stonebridge Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 503,000 | ||||
Total Residential Properties | Buildings and Fixtures | Highwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,035,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cityscape at Market Center [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 646,000 | ||||
Total Residential Properties | Buildings and Fixtures | Los Rios Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,082,000 | ||||
Total Residential Properties | Buildings and Fixtures | Boulder Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,547,000 | ||||
Total Residential Properties | Buildings and Fixtures | Copper Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 21,471,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Ashton Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,339,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Round Rock | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,661,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cobblestone Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,808,000 | ||||
Total Residential Properties | Buildings and Fixtures | Station Square at Cosner's Corner II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 187,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Sierra Vista | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,652,000 | ||||
Total Residential Properties | Buildings and Fixtures | Alamo Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,213,000 | ||||
Total Residential Properties | Buildings and Fixtures | Haven at Blanco | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,227,000 | ||||
Total Residential Properties | Buildings and Fixtures | Stone Ranch at Westover Hills | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,219,000 | ||||
Total Residential Properties | Buildings and Fixtures | Bulverde Oaks [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 788,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cypresswood Court | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,103,000 | ||||
Total Residential Properties | Buildings and Fixtures | Villages At Kirkwood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,500,000 | ||||
Total Residential Properties | Buildings and Fixtures | Green Tree Place | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,185,000 | ||||
Total Residential Properties | Buildings and Fixtures | Retreat at West Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 663,000 | ||||
Total Residential Properties | Buildings and Fixtures | Adalay Bay | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,193,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Greenbrier | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,048,000 | ||||
Total Residential Properties | Buildings and Fixtures | Radius [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 851,000 | ||||
Total Residential Properties | Buildings and Fixtures | Seasons at Celebrate Virginia | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 38,736,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Carlyle Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 114,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Corners at Trinity Centre [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 54,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Fallsgrove [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 57,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 66,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Pentagon Row [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 95,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Tysons Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 73,000 | ||||
Total Residential Properties | Buildings and Fixtures | Stonefield Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 426,000 | ||||
Total Residential Properties | Buildings and Fixtures | Station Square at Cosner's Corner | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 520,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Hampton Glen | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,507,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at West End | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,888,000 | ||||
Total Residential Properties | Buildings and Fixtures | Township | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,653,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Waterford | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,424,000 | ||||
Total Residential Properties | Buildings and Fixtures | Ashley Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,314,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Chase Gayton | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,491,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hamptons at Hunton Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,963,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Randal Lakes | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 10,544,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Lake at Baldwin Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 129,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Lakeside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 39,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Parkside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 27,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Peachtree Hills [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 50,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 117,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Spring [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 65,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Stratford [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 23,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Chancellor Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,632,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Bellevue (Phase II) | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 64,000 | ||||
Total Residential Properties | Buildings and Fixtures | 220 Riverside | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,180,000 | ||||
Total Residential Properties | Buildings and Fixtures | River's Walk II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Mallard Lake [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,327,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at University Center [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 511,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Reserve at South End (Charlotte, NC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 11,006,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Cypress Cove [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,464,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Hampton Pointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,112,000 | ||||
Total Residential Properties | Villages At Kirkwood [Member] | Lane At Towne Crossing [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Los Rios Park [Member] | Los Rios Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Initial Cost Land | 3,273,000 | ||||
Initial Cost Buildings and Fixtures | 28,823,000 | ||||
Gross Amount, Land | 3,273,000 | ||||
Gross Amount, Buildings and Fixtures | 33,905,000 | ||||
Total | 37,178,000 | ||||
Accumulated Depreciation | (15,229,000) | ||||
Net | $ 21,949,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Grand Reserve at Pinnacle [Member] | Buildings and Fixtures | Colonial Village at Greentree | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | $ 4,378,000 | ||||
Retail Properties | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Initial Cost Land | 30,527,000 | ||||
Initial Cost Buildings and Fixtures | 166,099,000 | ||||
Gross Amount, Land | 30,541,000 | ||||
Gross Amount, Buildings and Fixtures | 168,981,000 | ||||
Total | 199,522,000 | ||||
Accumulated Depreciation | (2,260,000) | ||||
Net | 197,262,000 | ||||
Retail Properties | Post Harbour Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 387,000 | ||||
Initial Cost Buildings and Fixtures | 4,324,000 | ||||
Gross Amount, Land | 387,000 | ||||
Gross Amount, Buildings and Fixtures | 4,324,000 | ||||
Total | 4,711,000 | ||||
Accumulated Depreciation | (9,000) | ||||
Net | $ 4,702,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Retail Properties | Post Rocky Point [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 34,000 | ||||
Initial Cost Buildings and Fixtures | 51,000 | ||||
Gross Amount, Land | 34,000 | ||||
Gross Amount, Buildings and Fixtures | 51,000 | ||||
Total | 85,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 85,000 | ||||
Retail Properties | Post Training Facility [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 1,094,000 | ||||
Initial Cost Buildings and Fixtures | 969,000 | ||||
Gross Amount, Land | 1,094,000 | ||||
Gross Amount, Buildings and Fixtures | 969,000 | ||||
Total | 2,063,000 | ||||
Accumulated Depreciation | (4,000) | ||||
Net | 2,059,000 | ||||
Retail Properties | Post Soho Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 268,000 | ||||
Initial Cost Buildings and Fixtures | 4,039,000 | ||||
Gross Amount, Land | 268,000 | ||||
Gross Amount, Buildings and Fixtures | 4,039,000 | ||||
Total | 4,307,000 | ||||
Accumulated Depreciation | (14,000) | ||||
Net | $ 4,293,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Retail Properties | Post Parkside Atlanta [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 427,000 | ||||
Initial Cost Buildings and Fixtures | 1,091,000 | ||||
Gross Amount, Land | 427,000 | ||||
Gross Amount, Buildings and Fixtures | 1,091,000 | ||||
Total | 1,518,000 | ||||
Accumulated Depreciation | (2,000) | ||||
Net | $ 1,516,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Retail Properties | Post Uptown Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 320,000 | ||||
Initial Cost Buildings and Fixtures | 1,146,000 | ||||
Gross Amount, Land | 320,000 | ||||
Gross Amount, Buildings and Fixtures | 1,146,000 | ||||
Total | 1,466,000 | ||||
Accumulated Depreciation | (3,000) | ||||
Net | $ 1,463,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Retail Properties | Post Park Maryland [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 25,000 | ||||
Initial Cost Buildings and Fixtures | 137,000 | ||||
Gross Amount, Land | 25,000 | ||||
Gross Amount, Buildings and Fixtures | 137,000 | ||||
Total | 162,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | $ 162,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Retail Properties | The Denton [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 700,000 | ||||
Initial Cost Buildings and Fixtures | 4,439,000 | ||||
Gross Amount, Land | 700,000 | ||||
Gross Amount, Buildings and Fixtures | 4,439,000 | ||||
Total | 5,139,000 | ||||
Accumulated Depreciation | (133,000) | ||||
Net | $ 5,006,000 | ||||
Date of Construction | Dec. 31, 2014 | ||||
Retail Properties | The Denton [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Retail Properties | The Denton [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Retail Properties | Post Gateway Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 319,000 | ||||
Initial Cost Buildings and Fixtures | 1,433,000 | ||||
Gross Amount, Land | 319,000 | ||||
Gross Amount, Buildings and Fixtures | 1,433,000 | ||||
Total | 1,752,000 | ||||
Accumulated Depreciation | (3,000) | ||||
Net | $ 1,749,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Retail Properties | Post Parkside at Wade [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 317,000 | ||||
Initial Cost Buildings and Fixtures | 4,559,000 | ||||
Gross Amount, Land | 317,000 | ||||
Gross Amount, Buildings and Fixtures | 4,559,000 | ||||
Total | 4,876,000 | ||||
Accumulated Depreciation | (15,000) | ||||
Net | $ 4,861,000 | ||||
Date of Construction | Dec. 31, 2011 | ||||
Retail Properties | Post Parkside Orlando [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 743,000 | ||||
Initial Cost Buildings and Fixtures | 11,947,000 | ||||
Gross Amount, Land | 743,000 | ||||
Gross Amount, Buildings and Fixtures | 11,948,000 | ||||
Total | 12,691,000 | ||||
Accumulated Depreciation | (28,000) | ||||
Net | $ 12,663,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Retail Properties | Post South End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 471,000 | ||||
Initial Cost Buildings and Fixtures | 1,291,000 | ||||
Gross Amount, Land | 471,000 | ||||
Gross Amount, Buildings and Fixtures | 1,291,000 | ||||
Total | 1,762,000 | ||||
Accumulated Depreciation | (3,000) | ||||
Net | $ 1,759,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Retail Properties | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 449,000 | ||||
Initial Cost Buildings and Fixtures | 21,426,000 | ||||
Gross Amount, Land | 449,000 | ||||
Gross Amount, Buildings and Fixtures | 21,537,000 | ||||
Total | 21,986,000 | ||||
Accumulated Depreciation | (50,000) | ||||
Net | 21,936,000 | ||||
Retail Properties | Post Cole's Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 348,000 | ||||
Initial Cost Buildings and Fixtures | 717,000 | ||||
Gross Amount, Land | 348,000 | ||||
Gross Amount, Buildings and Fixtures | 717,000 | ||||
Total | 1,065,000 | ||||
Accumulated Depreciation | (2,000) | ||||
Net | $ 1,063,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Retail Properties | Post Eastside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 684,000 | ||||
Initial Cost Buildings and Fixtures | 10,665,000 | ||||
Gross Amount, Land | 684,000 | ||||
Gross Amount, Buildings and Fixtures | 10,665,000 | ||||
Total | 11,349,000 | ||||
Accumulated Depreciation | (21,000) | ||||
Net | $ 11,328,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Retail Properties | Post Heights [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,068,000 | ||||
Initial Cost Buildings and Fixtures | 3,319,000 | ||||
Gross Amount, Land | 1,068,000 | ||||
Gross Amount, Buildings and Fixtures | 3,319,000 | ||||
Total | 4,387,000 | ||||
Accumulated Depreciation | (8,000) | ||||
Net | $ 4,379,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Retail Properties | Post Katy Trail [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 466,000 | ||||
Initial Cost Buildings and Fixtures | 4,893,000 | ||||
Gross Amount, Land | 466,000 | ||||
Gross Amount, Buildings and Fixtures | 4,893,000 | ||||
Total | 5,359,000 | ||||
Accumulated Depreciation | (11,000) | ||||
Net | $ 5,348,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Retail Properties | Post Legacy [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 150,000 | ||||
Initial Cost Buildings and Fixtures | 3,341,000 | ||||
Gross Amount, Land | 150,000 | ||||
Gross Amount, Buildings and Fixtures | 3,341,000 | ||||
Total | 3,491,000 | ||||
Accumulated Depreciation | (7,000) | ||||
Net | $ 3,484,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Retail Properties | Post Sierra at Frisco Bridges [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 780,000 | ||||
Initial Cost Buildings and Fixtures | 6,605,000 | ||||
Gross Amount, Land | 780,000 | ||||
Gross Amount, Buildings and Fixtures | 6,606,000 | ||||
Total | 7,386,000 | ||||
Accumulated Depreciation | (16,000) | ||||
Net | $ 7,370,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Retail Properties | Post Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,584,000 | ||||
Initial Cost Buildings and Fixtures | 5,994,000 | ||||
Gross Amount, Land | 1,584,000 | ||||
Gross Amount, Buildings and Fixtures | 5,995,000 | ||||
Total | 7,579,000 | ||||
Accumulated Depreciation | (14,000) | ||||
Net | $ 7,565,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Retail Properties | Post Worthington [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 108,000 | ||||
Initial Cost Buildings and Fixtures | 496,000 | ||||
Gross Amount, Land | 108,000 | ||||
Gross Amount, Buildings and Fixtures | 497,000 | ||||
Total | 605,000 | ||||
Accumulated Depreciation | (1,000) | ||||
Net | 604,000 | ||||
Retail Properties | Post South Lamar [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 422,000 | ||||
Initial Cost Buildings and Fixtures | 3,078,000 | ||||
Gross Amount, Land | 422,000 | ||||
Gross Amount, Buildings and Fixtures | 3,079,000 | ||||
Total | 3,501,000 | ||||
Accumulated Depreciation | (7,000) | ||||
Net | $ 3,494,000 | ||||
Date of Construction | Dec. 31, 2011 | ||||
Retail Properties | Post Midtown Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,325,000 | ||||
Initial Cost Buildings and Fixtures | 16,036,000 | ||||
Gross Amount, Land | 1,330,000 | ||||
Gross Amount, Buildings and Fixtures | 16,053,000 | ||||
Total | 17,383,000 | ||||
Accumulated Depreciation | (36,000) | ||||
Net | 17,347,000 | ||||
Retail Properties | Rise Condo Development [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 0 | ||||
Initial Cost Buildings and Fixtures | 2,284,000 | ||||
Gross Amount, Land | 0 | ||||
Gross Amount, Buildings and Fixtures | 2,284,000 | ||||
Total | 2,284,000 | ||||
Accumulated Depreciation | (5,000) | ||||
Net | 2,279,000 | ||||
Retail Properties | Bella Casita at Las Colinas | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 46,000 | ||||
Initial Cost Buildings and Fixtures | 186,000 | ||||
Gross Amount, Land | 46,000 | ||||
Gross Amount, Buildings and Fixtures | 312,000 | ||||
Total | 358,000 | ||||
Accumulated Depreciation | (66,000) | ||||
Net | $ 292,000 | ||||
Date of Construction | Dec. 31, 2007 | ||||
Retail Properties | Bella Casita at Las Colinas | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Retail Properties | Bella Casita at Las Colinas | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Retail Properties | Times Square at Craig Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 253,000 | ||||
Initial Cost Buildings and Fixtures | 1,310,000 | ||||
Gross Amount, Land | 253,000 | ||||
Gross Amount, Buildings and Fixtures | 2,697,000 | ||||
Total | 2,950,000 | ||||
Accumulated Depreciation | (372,000) | ||||
Net | $ 2,578,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Retail Properties | Times Square at Craig Ranch | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Retail Properties | Times Square at Craig Ranch | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Retail Properties | Colonial Promenade Nord du Lac (Covington, LA) [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Retail Properties | Colonial Promenade Nord du Lac (Covington, LA) [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Retail Properties | Post Carlyle Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,050,000 | ||||
Initial Cost Buildings and Fixtures | 7,945,000 | ||||
Gross Amount, Land | 1,050,000 | ||||
Gross Amount, Buildings and Fixtures | 7,945,000 | ||||
Total | 8,995,000 | ||||
Accumulated Depreciation | (18,000) | ||||
Net | 8,977,000 | ||||
Retail Properties | Highlands of West Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 431,000 | ||||
Initial Cost Land | 2,500,000 | ||||
Initial Cost Buildings and Fixtures | 8,446,000 | ||||
Gross Amount, Land | 2,500,000 | ||||
Gross Amount, Buildings and Fixtures | 9,394,000 | ||||
Total | 11,894,000 | ||||
Accumulated Depreciation | (702,000) | ||||
Net | $ 11,192,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Retail Properties | Highlands of West Village [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Retail Properties | Highlands of West Village [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Retail Properties | Allure at Buckhead | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 867,000 | ||||
Initial Cost Buildings and Fixtures | 3,465,000 | ||||
Gross Amount, Land | 867,000 | ||||
Gross Amount, Buildings and Fixtures | 3,487,000 | ||||
Total | 4,354,000 | ||||
Accumulated Depreciation | (542,000) | ||||
Net | $ 3,812,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Retail Properties | Allure at Buckhead | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Retail Properties | Allure at Buckhead | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Retail Properties | 1225 South Church | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 43,000 | ||||
Initial Cost Buildings and Fixtures | 199,000 | ||||
Gross Amount, Land | 52,000 | ||||
Gross Amount, Buildings and Fixtures | 441,000 | ||||
Total | 493,000 | ||||
Accumulated Depreciation | (86,000) | ||||
Net | $ 407,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Retail Properties | 1225 South Church | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Retail Properties | 1225 South Church | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Retail Properties | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 890,000 | ||||
Initial Cost Buildings and Fixtures | 2,344,000 | ||||
Gross Amount, Land | 890,000 | ||||
Gross Amount, Buildings and Fixtures | 2,345,000 | ||||
Total | 3,235,000 | ||||
Accumulated Depreciation | (5,000) | ||||
Net | $ 3,230,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Retail Properties | Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | $ 14,000 | ||||
Retail Properties | Land | Post Harbour Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Rocky Point [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Training Facility [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Soho Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Parkside Atlanta [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Uptown Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Park Maryland [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | The Denton [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Gateway Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Parkside at Wade [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Parkside Orlando [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post South End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Cole's Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Eastside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Heights [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Katy Trail [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Legacy [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Sierra at Frisco Bridges [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Worthington [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post South Lamar [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Midtown Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,000 | ||||
Retail Properties | Land | Rise Condo Development [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Bella Casita at Las Colinas | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Times Square at Craig Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Post Carlyle Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Highlands of West Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | Allure at Buckhead | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Land | 1225 South Church | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 9,000 | ||||
Retail Properties | Land | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,882,000 | ||||
Retail Properties | Buildings and Fixtures | Post Harbour Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Rocky Point [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Training Facility [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Soho Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Parkside Atlanta [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Uptown Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Park Maryland [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | The Denton [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Gateway Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Parkside at Wade [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Parkside Orlando [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,000 | ||||
Retail Properties | Buildings and Fixtures | Post South End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 111,000 | ||||
Retail Properties | Buildings and Fixtures | Post Cole's Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Eastside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Heights [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Katy Trail [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Legacy [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Post Sierra at Frisco Bridges [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,000 | ||||
Retail Properties | Buildings and Fixtures | Post Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,000 | ||||
Retail Properties | Buildings and Fixtures | Post Worthington [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,000 | ||||
Retail Properties | Buildings and Fixtures | Post South Lamar [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,000 | ||||
Retail Properties | Buildings and Fixtures | Post Midtown Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 17,000 | ||||
Retail Properties | Buildings and Fixtures | Rise Condo Development [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Bella Casita at Las Colinas | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 126,000 | ||||
Retail Properties | Buildings and Fixtures | Times Square at Craig Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,387,000 | ||||
Retail Properties | Buildings and Fixtures | Post Carlyle Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Retail Properties | Buildings and Fixtures | Highlands of West Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 948,000 | ||||
Retail Properties | Buildings and Fixtures | Allure at Buckhead | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 22,000 | ||||
Retail Properties | Buildings and Fixtures | 1225 South Church | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 242,000 | ||||
Retail Properties | Buildings and Fixtures | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,000 | ||||
Other Property [Member] | Post Uptown Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 1,293,000 | ||||
Initial Cost Buildings and Fixtures | 1,491,000 | ||||
Gross Amount, Land | 1,293,000 | ||||
Gross Amount, Buildings and Fixtures | 1,491,000 | ||||
Total | 2,784,000 | ||||
Accumulated Depreciation | (3,000) | ||||
Net | $ 2,781,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Other Property [Member] | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,397,000 | ||||
Initial Cost Buildings and Fixtures | 4,288,000 | ||||
Gross Amount, Land | 1,397,000 | ||||
Gross Amount, Buildings and Fixtures | 4,293,000 | ||||
Total | 5,690,000 | ||||
Accumulated Depreciation | (13,000) | ||||
Net | 5,677,000 | ||||
Other Property [Member] | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 9,699,000 | ||||
Initial Cost Buildings and Fixtures | 22,145,000 | ||||
Gross Amount, Land | 9,699,000 | ||||
Gross Amount, Buildings and Fixtures | 22,163,000 | ||||
Total | 31,862,000 | ||||
Accumulated Depreciation | (61,000) | ||||
Net | $ 31,801,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Other Property [Member] | Land | Post Uptown Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | $ 0 | ||||
Other Property [Member] | Land | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Other Property [Member] | Land | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Other Property [Member] | Buildings and Fixtures | Post Uptown Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Other Property [Member] | Buildings and Fixtures | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,000 | ||||
Other Property [Member] | Buildings and Fixtures | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 18,000 | ||||
Development Properties | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 73,573,000 | ||||
Initial Cost Buildings and Fixtures | 229,642,000 | ||||
Gross Amount, Land | 73,573,000 | ||||
Gross Amount, Buildings and Fixtures | 306,867,000 | ||||
Total | 380,440,000 | ||||
Accumulated Depreciation | (375,000) | ||||
Net | 380,065,000 | ||||
Development Properties | Colonial Promenade Huntsville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 2,000,000 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 2,000,000 | ||||
Gross Amount, Buildings and Fixtures | 0 | ||||
Total | 2,000,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 2,000,000 | ||||
Development Properties | Colonial Grand at Randal Lakes II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 3,200,000 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 3,200,000 | ||||
Gross Amount, Buildings and Fixtures | 33,725,000 | ||||
Total | 36,925,000 | ||||
Accumulated Depreciation | (123,000) | ||||
Net | 36,802,000 | ||||
Development Properties | Post Parkside at Wade II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 9,450,000 | ||||
Initial Cost Buildings and Fixtures | 46,350,000 | ||||
Gross Amount, Land | 9,450,000 | ||||
Gross Amount, Buildings and Fixtures | 48,198,000 | ||||
Total | 57,648,000 | ||||
Accumulated Depreciation | (143,000) | ||||
Net | 57,505,000 | ||||
Development Properties | Post Afton Oaks [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 12,090,000 | ||||
Initial Cost Buildings and Fixtures | 68,810,000 | ||||
Gross Amount, Land | 12,090,000 | ||||
Gross Amount, Buildings and Fixtures | 70,255,000 | ||||
Total | 82,345,000 | ||||
Accumulated Depreciation | (109,000) | ||||
Net | 82,236,000 | ||||
Development Properties | Post South Lamar II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 9,000,000 | ||||
Initial Cost Buildings and Fixtures | 32,800,000 | ||||
Gross Amount, Land | 9,000,000 | ||||
Gross Amount, Buildings and Fixtures | 36,107,000 | ||||
Total | 45,107,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 45,107,000 | ||||
Development Properties | Post Millennium Midtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 7,000,000 | ||||
Initial Cost Buildings and Fixtures | 44,000,000 | ||||
Gross Amount, Land | 7,000,000 | ||||
Gross Amount, Buildings and Fixtures | 52,312,000 | ||||
Total | 59,312,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 59,312,000 | ||||
Development Properties | Post River North [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 13,413,000 | ||||
Initial Cost Buildings and Fixtures | 26,732,000 | ||||
Gross Amount, Land | 13,413,000 | ||||
Gross Amount, Buildings and Fixtures | 30,019,000 | ||||
Total | 43,432,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 43,432,000 | ||||
Development Properties | Post Centennial Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 13,650,000 | ||||
Initial Cost Buildings and Fixtures | 10,950,000 | ||||
Gross Amount, Land | 13,650,000 | ||||
Gross Amount, Buildings and Fixtures | 13,271,000 | ||||
Total | 26,921,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 26,921,000 | ||||
Development Properties | The Denton II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 770,000 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 770,000 | ||||
Gross Amount, Buildings and Fixtures | 12,806,000 | ||||
Total | 13,576,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 13,576,000 | ||||
Development Properties | Retreat at West Creek II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 3,000,000 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 3,000,000 | ||||
Gross Amount, Buildings and Fixtures | 10,174,000 | ||||
Total | 13,174,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 13,174,000 | ||||
Development Properties | Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Land | Colonial Promenade Huntsville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Land | Colonial Grand at Randal Lakes II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Land | Post Parkside at Wade II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Land | Post Afton Oaks [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Land | Post South Lamar II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Land | Post Millennium Midtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Land | Post River North [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Land | Post Centennial Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Land | The Denton II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Land | Retreat at West Creek II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Buildings and Fixtures | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 77,225,000 | ||||
Development Properties | Buildings and Fixtures | Colonial Promenade Huntsville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties | Buildings and Fixtures | Colonial Grand at Randal Lakes II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 33,725,000 | ||||
Development Properties | Buildings and Fixtures | Post Parkside at Wade II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,848,000 | ||||
Development Properties | Buildings and Fixtures | Post Afton Oaks [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,445,000 | ||||
Development Properties | Buildings and Fixtures | Post South Lamar II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,307,000 | ||||
Development Properties | Buildings and Fixtures | Post Millennium Midtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,312,000 | ||||
Development Properties | Buildings and Fixtures | Post River North [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,287,000 | ||||
Development Properties | Buildings and Fixtures | Post Centennial Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,321,000 | ||||
Development Properties | Buildings and Fixtures | The Denton II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 12,806,000 | ||||
Development Properties | Buildings and Fixtures | Retreat at West Creek II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 10,174,000 | ||||
Total Properties | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 1,001,204,000 | ||||
Initial Cost Land | 1,809,746,000 | ||||
Initial Cost Buildings and Fixtures | 9,975,217,000 | ||||
Gross Amount, Land | 1,816,008,000 | ||||
Gross Amount, Buildings and Fixtures | 11,053,190,000 | ||||
Total | 12,869,198,000 | ||||
Accumulated Depreciation | (1,656,071,000) | ||||
Net | 11,213,127,000 | ||||
Total Properties | Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,262,000 | ||||
Total Properties | Buildings and Fixtures | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,077,973,000 | ||||
Land Held for Future Developments | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 71,464,000 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 71,464,000 | ||||
Gross Amount, Buildings and Fixtures | 0 | ||||
Total | 71,464,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 71,464,000 | ||||
Land Held for Future Developments | Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Land Held for Future Developments | Buildings and Fixtures | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Other | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | |||||
Initial Cost Land | 71,464,000 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | ||||
Cost Capitalized subsequent to Acquisition | 31,508,000 | ||||
Gross Amount, Land | 71,464,000 | ||||
Gross Amount, Buildings and Fixtures | 31,508,000 | ||||
Total | 102,972,000 | ||||
Accumulated Depreciation | (18,730,000) | ||||
Net | 84,242,000 | ||||
Corporate Real Estate Owned | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 0 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 0 | ||||
Gross Amount, Buildings and Fixtures | 31,508,000 | ||||
Total | 31,508,000 | ||||
Accumulated Depreciation | (18,730,000) | ||||
Net | 12,778,000 | ||||
Corporate Real Estate Owned | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Corporate Real Estate Owned | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Corporate Real Estate Owned | Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Corporate Real Estate Owned | Buildings and Fixtures | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | $ 31,508,000 | ||||
Phase I | Total Residential Properties | Colonial Village at Trussville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1996 | ||||
Phase I | Total Residential Properties | Westside Creek I & II | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1984 | ||||
Phase I | Total Residential Properties | Paddock Club Lakeland | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1988 | ||||
Phase I | Total Residential Properties | Residences at Burlington Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 2013 | ||||
Phase I | Total Residential Properties | Colonial Village at Greystone [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1998 | ||||
Phase I | Total Residential Properties | Colonial Grand at Autumn Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 2001 | ||||
Phase I | Total Residential Properties | Colonial Village at Grapevine | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1985 | ||||
Phase II | Total Residential Properties | Colonial Village at Trussville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1997 | ||||
Phase II | Total Residential Properties | Westside Creek I & II | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1986 | ||||
Phase II | Total Residential Properties | Paddock Club Lakeland | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1990 | ||||
Phase II | Total Residential Properties | Residences at Burlington Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 2014 | ||||
Phase II | Total Residential Properties | Colonial Village at Greystone [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 2000 | ||||
Phase II | Total Residential Properties | Colonial Grand at Autumn Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 2004 | ||||
Phase II | Total Residential Properties | Colonial Grand at Trinity Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 2002 | ||||
Phase II | Total Residential Properties | Glen Eagles [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 2000 | ||||
Phase II | Total Residential Properties | Colonial Village at Grapevine | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1986 | ||||
[1] | Encumbered by a $160.0 million Fannie Mae facility, with $160.0 million available and outstanding with a variable interest rate of 1.1% on which there exists two interest rate caps totaling $50 million at an average rate of 4.50% at December 31, 2016. | ||||
[2] | Encumbered by a $127 million loan with a fixed interest rate of 5.08% which matures on June 10, 2021. |
Schedule III Real Estate and 82
Schedule III Real Estate and Accumulated Depreciation (Parenthetical) (Details) | 12 Months Ended | ||
Dec. 31, 2016USD ($)Contract | Dec. 31, 2015 | Sep. 30, 2016USD ($) | |
Real Estate and Accumulated Depreciation [Line Items] | |||
SEC Schedule III, Real Estate, Federal Income Tax Basis | $ 10,450,000,000 | ||
Finite-Lived Intangible Assets, Remaining Amortization Period | 6 months | ||
Encumbrance 1 | FNMA | |||
Real Estate and Accumulated Depreciation [Line Items] | |||
Secured credit facilities, amount available | $ 160,000,000 | ||
Line of credit facility, amount outstanding | $ 160,000,000 | ||
Variable interest rate (percent) | 1.10% | ||
Encumbrance 1 | FNMA | Interest Rate Swap | |||
Real Estate and Accumulated Depreciation [Line Items] | |||
Number of Interest rate derivatives held (contracts) | Contract | 2 | ||
Variable rate borrowings after interest rate swaps (percent) | 4.50% | ||
Encumbrance 1 | FNMA | Interest Rate Cap | |||
Real Estate and Accumulated Depreciation [Line Items] | |||
Derivative, Notional Amount | $ 50,000,000 | ||
Encumbrance 2 | Fixed Rate Debt | Loan [Member] | |||
Real Estate and Accumulated Depreciation [Line Items] | |||
Amount of bond used as encumbrance | $ 127,000,000 | ||
Derivative, Notional Amount | $ 128,000,000 | ||
Derivative cap interest rate (percent) | 4.50% | ||
Derivative termination date | Jun. 10, 2021 | ||
Furniture, fixtures and equipment | |||
Real Estate and Accumulated Depreciation [Line Items] | |||
Estimated useful lives (years) | 5 years | ||
Minimum | Land improvements and buildings | |||
Real Estate and Accumulated Depreciation [Line Items] | |||
Estimated useful lives (years) | 8 years | ||
Maximum | Land improvements and buildings | |||
Real Estate and Accumulated Depreciation [Line Items] | |||
Estimated useful lives (years) | 40 years | ||
Corporate Real Estate Owned | Minimum | |||
Real Estate and Accumulated Depreciation [Line Items] | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 1 year | ||
Corporate Real Estate Owned | Maximum | |||
Real Estate and Accumulated Depreciation [Line Items] | |||
Real Estate and Accumulated Depreciation, Life Used for Depreciation | 40 years |
Activity for Real Estate Inve83
Activity for Real Estate Investments and Accumulated Depreciation (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Real Estate Investments [Abstract] | ||||
Balance at beginning of year | $ 8,215,768,000 | $ 8,069,395,000 | $ 7,722,181,000 | |
Acquisitions | [1] | 4,961,140,000 | 316,151,000 | 407,889,000 |
Less: FMV of Leases included in Acquisitions | (51,588,000) | (4,438,000) | (4,968,000) | |
Improvement and development | 202,614,000 | 165,000,000 | 186,043,000 | |
Disposition of real estate assets | [2] | (355,764,000) | (330,340,000) | (241,750,000) |
Balance at end of year | 12,972,170,000 | 8,215,768,000 | 8,069,395,000 | |
Real Estate and Accumulated Depreciation Disclosure [Abstract] | ||||
Balance at beginning of year | 1,499,213,000 | 1,373,678,000 | 1,138,315,000 | |
Depreciation | 314,076,000 | 289,177,000 | 276,991,000 | |
Disposition of real estate assets | [2] | (138,488,000) | (163,642,000) | (41,628,000) |
Balance at end of year | 1,674,801,000 | 1,499,213,000 | 1,373,678,000 | |
Commercial | ||||
Real Estate and Accumulated Depreciation Disclosure [Abstract] | ||||
Accumulated depreciation | 18,730,000 | 16,845,000 | 15,279,000 | |
Assets Held-for-sale | ||||
Real Estate Investments [Abstract] | ||||
Balance at beginning of year | 0 | 0 | ||
Balance at end of year | 0 | 0 | 0 | |
Real Estate and Accumulated Depreciation Disclosure [Abstract] | ||||
Accumulated depreciation | $ 0 | $ 0 | $ 0 | |
[1] | Includes non-cash activity related to acquisitions. | |||
[2] | Includes assets sold, casualty losses, and removal of certain fully depreciated assets. |