Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 19, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Document Fiscal Year Focus | 2,017 | ||
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, 2017 | ||
Entity Common Stock, Shares Outstanding | 113,688,972 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 8,307,075,788 | ||
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 - Parent Company [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets: | ||
Land | $ 1,836,417 | $ 1,816,008 |
Buildings, Improvements, and Other | 11,281,504 | 10,853,474 |
Development and capital improvements in progress | 116,833 | 231,224 |
Real estate investment property, at cost | 13,234,754 | 12,900,706 |
Less accumulated depreciation | (2,075,071) | (1,674,801) |
Real Estate Investment Property, Net | 11,159,683 | 11,225,905 |
Undeveloped land | 57,285 | 71,464 |
Investments in real estate joint ventures | 44,956 | 44,493 |
Real estate assets, net | 11,261,924 | 11,341,862 |
Cash and cash equivalents | 10,750 | 33,536 |
Restricted cash | 78,117 | 88,264 |
Other assets | 135,807 | 140,829 |
Real Estate Held-for-sale | 5,321 | 0 |
Total assets | 11,491,919 | 11,604,491 |
Liabilities: | ||
Secured notes payable | 976,292 | 1,319,088 |
Unsecured notes payable | 3,525,765 | 3,180,624 |
Accrued expenses and other liabilities | 405,560 | 452,605 |
Total liabilities | 4,907,617 | 4,952,317 |
Redeemable stock | 10,408 | 10,073 |
Shareholders' equity | ||
Preferred Stock, Value, Outstanding | 9 | 9 |
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 | 1,134 | 1,133 |
Additional paid-in capital | 7,121,112 | 7,109,012 |
Accumulated distributions in excess of net income | (784,500) | (707,479) |
Accumulated other comprehensive (loss) income | 2,157 | 1,144 |
Total MAA shareholders' equity | 6,339,912 | 6,403,819 |
Noncontrolling interest | 231,676 | 235,976 |
Total equity | 6,571,588 | 6,639,795 |
Noncontrolling Interest in Joint Ventures | 2,306 | 2,306 |
Permanent Equity Attributable to Parent and Noncontrolling Interest | 6,573,894 | 6,642,101 |
Total liabilities and equity | $ 11,491,919 | $ 11,604,491 |
Redeemable stock, shares/units issued and outstanding | 103,504 | 103,578 |
MAALP Consolidated Balance Shee
MAALP Consolidated Balance Sheets - Limited Partner [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets: | ||
Land | $ 1,836,417 | $ 1,816,008 |
Buildings, Improvements, and Other | 11,281,504 | 10,853,474 |
Development and capital improvements in progress | 116,833 | 231,224 |
Real estate investment property, at cost | 13,234,754 | 12,900,706 |
Less accumulated depreciation | (2,075,071) | (1,674,801) |
Real Estate Investment Property, Net | 11,159,683 | 11,225,905 |
Undeveloped land | 57,285 | 71,464 |
Investments in real estate joint ventures | 44,956 | 44,493 |
Real estate assets, net | 11,261,924 | 11,341,862 |
Cash and cash equivalents | 10,750 | 33,536 |
Restricted cash | 78,117 | 88,264 |
Other assets | 135,807 | 140,829 |
Real Estate Held-for-sale | 5,321 | 0 |
Total assets | 11,491,919 | 11,604,491 |
Liabilities: | ||
Secured notes payable | 976,292 | 1,319,088 |
Unsecured notes payable | 3,525,765 | 3,180,624 |
Accrued expenses and other liabilities | 405,560 | 452,605 |
Due to general partner | 19 | 19 |
Total liabilities | 4,907,636 | 4,952,336 |
Redeemable units | 10,408 | 10,073 |
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 | 6,270,758 | 6,337,721 |
Limited Partners: 4,191,152 OP Units outstanding at December 31, 2014 and 4,227,384 OP Units outstanding at December 31, 2013 | 231,676 | 235,976 |
Preferred Stock, Liquidation Preference, Value | 66,840 | 64,833 |
Accumulated other comprehensive (loss) income | 2,295 | 1,246 |
Capital | 6,571,569 | 6,639,776 |
Noncontrolling Interest in Joint Ventures | 2,306 | 2,306 |
Partners' Capital, Including Portion Attributable to Noncontrolling Interest | 6,573,875 | 6,642,082 |
Liabilities and capital | $ 11,491,919 | $ 11,604,491 |
Redeemable stock, shares/units issued and outstanding | 103,504 | 103,578 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Common stock, shares outstanding | 113,643,166 | 113,518,212 |
General partners' capital account, units outstanding | 113,643,166 | 113,518,212 |
Limited partners' capital account, units outstanding | 4,191,586 | |
Preferred Stock, Liquidation Preference Per Share | $ 50 | |
Limited Partner [Member] | ||
Redeemable stock, shares/units issued and outstanding | 103,504 | 103,578 |
General partners' capital account, units outstanding | 113,643,166 | 113,518,212 |
Limited partners' capital account, units outstanding | 4,191,586 | 4,220,403 |
Preferred Units, Issued | 867,846 | 867,846 |
Preferred Units, Outstanding | 867,846 | 867,846 |
Parent Company [Member] | ||
Common stock, par value per share | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 145,000,000 | 145,000,000 |
Common stock, shares issued | 113,643,166 | 113,518,212 |
Common stock, shares outstanding | 113,643,166 | 113,518,212 |
Redeemable stock, shares/units issued and outstanding | 103,504 | 103,578 |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, Shares Issued | 867,846 | 867,846 |
Preferred Stock, Shares Outstanding | 867,846 | 867,846 |
Preferred Stock, Liquidation Preference Per Share | $ 50 | $ 50 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property operating expenses: | |||
Business Combination, Merger and Integration Related Expenses | $ 40,800,000 | ||
Preferred Stock Dividends, Income Statement Impact | $ 0 | ||
Parent Company [Member] | |||
Operating revenues: | |||
Total operating revenues | $ 1,528,987,000 | 1,125,348,000 | 1,042,779,000 |
Property operating expenses: | |||
Operating Expenses | 364,190,000 | 280,572,000 | 271,027,000 |
Real estate taxes and insurance | 212,541,000 | 142,784,000 | 129,618,000 |
Depreciation and amortization | 493,708,000 | 322,958,000 | 294,520,000 |
Total property operating expenses | 1,070,439,000 | 746,314,000 | 695,165,000 |
Property management expenses | 43,588,000 | 34,093,000 | 30,990,000 |
Business Combination, Merger and Integration Related Expenses | 19,990,000 | 40,823,000 | 0 |
General and administrative expenses | 40,194,000 | 29,040,000 | 25,716,000 |
Income from continuing operations before non-operating items | 354,776,000 | 275,078,000 | 290,908,000 |
Interest expense | (154,751,000) | (129,947,000) | (122,344,000) |
Gain on sale of non-depreciable real estate assets | 21,000 | 2,171,000 | 172,000 |
Other Nonoperating Income (Expense) | 14,353,000 | (1,839,000) | (6,274,000) |
Gain on sale of depreciable real estate assets excluded from discontinued operations | 127,386,000 | 80,397,000 | 189,958,000 |
Income before income tax expense | 341,785,000 | 225,860,000 | 352,420,000 |
Income tax expense | (2,619,000) | (1,699,000) | (1,673,000) |
Income from continuing operations before joint venture activity | 339,166,000 | 224,161,000 | 350,747,000 |
Gain (loss) from real estate joint ventures | 1,370,000 | 241,000 | (2,000) |
Consolidated net income | 340,536,000 | 224,402,000 | 350,745,000 |
Net income attributable to noncontrolling interests | 12,157,000 | 12,180,000 | 18,458,000 |
Net Income (Loss) Available to Shareholders | 328,379,000 | 212,222,000 | 332,287,000 |
Preferred Stock Dividends, Income Statement Impact | 3,688,000 | 307,000 | |
Net income available for MAA common shareholders | $ 324,691,000 | $ 211,915,000 | $ 332,287,000 |
Earnings per share - diluted: | |||
Common Stock, Dividends, Per Share, Declared | $ 3.5325 | $ 3.33 | $ 3.13 |
Limited Partner [Member] | |||
Operating revenues: | |||
Total operating revenues | $ 1,528,987,000 | $ 1,125,348,000 | $ 1,042,779,000 |
Property operating expenses: | |||
Operating Expenses | 364,190,000 | 280,572,000 | 271,027,000 |
Real estate taxes and insurance | 212,541,000 | 142,784,000 | 129,618,000 |
Depreciation and amortization | 493,708,000 | 322,958,000 | 294,520,000 |
Total property operating expenses | 1,070,439,000 | 746,314,000 | 695,165,000 |
Property management expenses | 43,588,000 | 34,093,000 | 30,990,000 |
Business Combination, Merger and Integration Related Expenses | 19,990,000 | 40,823,000 | 0 |
General and administrative expenses | 40,194,000 | 29,040,000 | 25,716,000 |
Income from continuing operations before non-operating items | 354,776,000 | 275,078,000 | 290,908,000 |
Interest expense | (154,751,000) | (129,947,000) | (122,344,000) |
Gain on sale of non-depreciable real estate assets | 21,000 | 2,171,000 | 172,000 |
Other Nonoperating Income (Expense) | 14,353,000 | (1,839,000) | (6,274,000) |
Gain on sale of depreciable real estate assets excluded from discontinued operations | 127,386,000 | 80,397,000 | 189,958,000 |
Income before income tax expense | 341,785,000 | 225,860,000 | 352,420,000 |
Income tax expense | (2,619,000) | (1,699,000) | (1,673,000) |
Income from continuing operations before joint venture activity | 339,166,000 | 224,161,000 | 350,747,000 |
Gain (loss) from real estate joint ventures | 1,370,000 | 241,000 | (2,000) |
Consolidated net income | 340,536,000 | 224,402,000 | 350,745,000 |
Preferred Stock Dividends, Income Statement Impact | 3,688,000 | 307,000 | 0 |
Net income available for Mid-America Apartments, L.P. common unitholders | $ 336,848,000 | $ 224,095,000 | $ 350,745,000 |
Earnings Per Share, Basic [Abstract] | |||
Basic Earnings Per Unit | $ 2.86 | $ 2.70 | $ 4.41 |
Earnings per share - diluted: | |||
Net income available to common shareholders (dollars per share) | 2.86 | 2.70 | 4.41 |
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 3.5325 | $ 3.33 | $ 3.13 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Parent Company [Member] | |||
Consolidated net income | $ 340,536 | $ 224,402 | $ 350,745 |
Unrealized (loss) gain from the effective portion of derivative instruments | 319 | (1,500) | (8,306) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 730 | 4,364 | 7,064 |
Total Comprehensive Income | 341,585 | 227,266 | 349,503 |
Less: comprehensive income attributable to noncontrolling interest | (12,193) | (12,311) | (18,393) |
Comprehensive income attributable to MAA | 329,392 | 214,955 | 331,110 |
Limited Partner [Member] | |||
Consolidated net income | 340,536 | 224,402 | 350,745 |
Unrealized (loss) gain from the effective portion of derivative instruments | 319 | (1,500) | (8,306) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 730 | 4,364 | 7,064 |
Comprehensive income attributable to Mid-America Apartments, L.P. | $ 341,585 | $ 227,266 | $ 349,503 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) | Common Stock | Accumulated Distributions in Excess of Net Income | Limited Partner [Member] | Limited Partner [Member]Limited Partners' Capital Account [Member] | Limited Partner [Member]General Partners' Capital Account [Member] | Limited Partner [Member]Total Partnership Capital [Member] | Limited Partner [Member]AOCI Attributable to Noncontrolling Interest [Member] | Limited Partner [Member]Redeemable Stock | Limited Partner [Member]Accumulated Distributions in Excess of Net Income | Parent Company [Member] | Parent Company [Member]Preferred Stock Including Additional Paid in Capital [Member] | Parent Company [Member]Preferred Stock [Member] | Parent Company [Member]Common Stock | Parent Company [Member]Common Stock Including Additional Paid in Capital [Member] | Parent Company [Member]Additional Paid-in Capital | Parent Company [Member]Accumulated Distributions in Excess of Net Income | Parent Company [Member]Noncontrolling Interest | Parent Company [Member]Redeemable Stock | Parent Company [Member]Accumulated Other Comprehensive Income (Loss) [Member] | Stockholders' Equity, Total [Member]Limited Partner [Member] | Stockholders' Equity, Total [Member]Parent Company [Member] |
Shares, Outstanding at Dec. 31, 2014 | 75,180,000 | ||||||||||||||||||||
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 | ||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2014 | $ 752,000 | $ 3,619,270,000 | $ (729,086,000) | $ 161,287,000 | $ (412,000) | $ 3,051,811,000 | |||||||||||||||
Net Income Attributable to Parent | 332,287,000 | ||||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | 18,458,000 | ||||||||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 350,745,000 | $ 350,745,000 | $ 350,745,000 | 350,745,000 | |||||||||||||||||
Other comprehensive income - derivative instruments (cash flow hedges) | (1,242,000) | $ (1,242,000) | (65,000) | (1,177,000) | (1,242,000) | ||||||||||||||||
Issuance and registration of common shares | 1,000 | 621,000 | 0 | $ 924,000 | 622,000 | ||||||||||||||||
Shares repurchased and retired | 0 | (958,000) | (958,000) | ||||||||||||||||||
Exercise of stock options | 0 | 420,000 | 420,000 | ||||||||||||||||||
Shares issued in exchange for units | 0 | 1,121,000 | (1,121,000) | 0 | |||||||||||||||||
Redeemable stock fair market value | $ 1,415,000 | 1,415,000 | $ 1,415,000 | (1,415,000) | 1,415,000 | (1,415,000) | |||||||||||||||
Adjustment for Noncontrolling Interest Ownership in operating partnership | $ 164,000 | (164,000) | 0 | (252,000) | 252,000 | 0 | |||||||||||||||
Amortization of unearned compensation | 6,852,000 | 6,852,000 | 6,852,000 | 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) | (235,927,000) | |||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2015 | $ 753,000 | 3,627,074,000 | (634,141,000) | 165,726,000 | (1,589,000) | 3,157,823,000 | |||||||||||||||
Redeemable stock at Dec. 31, 2014 | 5,911,000 | 5,911,000 | |||||||||||||||||||
Redeemable stock at Dec. 31, 2015 | 8,250,000 | 8,250,000 | |||||||||||||||||||
Partners' Capital at Dec. 31, 2014 | 161,310,000 | 2,890,858,000 | 3,051,792,000 | (376,000) | |||||||||||||||||
Net Income (Loss) Allocated to Limited Partners | 18,458,000 | ||||||||||||||||||||
Net Income (Loss) Allocated to General Partners | 332,287,000 | ||||||||||||||||||||
Issuance of units | 0 | 622,000 | 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 | ||||||||||||||||||
Distributions | (13,085,000) | (235,927,000) | (249,012,000) | ||||||||||||||||||
Partners' Capital at Dec. 31, 2015 | 165,726,000 | 2,993,696,000 | 3,157,804,000 | (1,618,000) | |||||||||||||||||
Dividends on noncontrolling interest units | (13,085,000) | (13,085,000) | |||||||||||||||||||
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 (Loss), Including Portion Attributable to Noncontrolling Interest | 224,402,000 | 224,402,000 | 224,402,000 | $ 0 | 224,402,000 | ||||||||||||||||
Other comprehensive income - derivative instruments (cash flow hedges) | 2,864,000 | 2,864,000 | 0 | 131,000 | 2,733,000 | 2,864,000 | |||||||||||||||
Issuance and registration of common shares | $ 64,824,000 | 0 | $ 380,000 | $ 3,406,150,000 | 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 | 0 | (2,019,000) | (2,019,000) | |||||||||||||||||
Shares issued in exchange for units | $ 0 | 0 | 902,000 | (902,000) | 0 | ||||||||||||||||
Redeemable stock fair market value | 705,000 | 705,000 | 705,000 | 0 | 705,000 | 705,000 | (705,000) | ||||||||||||||
Adjustment for Noncontrolling Interest Ownership in operating partnership | 323,000 | (323,000) | 0 | 0 | (192,000) | 192,000 | 0 | ||||||||||||||
Amortization of unearned compensation | 12,151,000 | 12,151,000 | 0 | 12,151,000 | 12,151,000 | ||||||||||||||||
Payments of Ordinary Dividends | (226,000) | (226,000) | |||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 13,850,000 | (226,000) | (226,000) | ||||||||||||||||||
Dividends, Preferred Stock, Cash | $ 307,000 | 924,000 | (307,000) | $ 307,000 | 924,000 | 307,000 | 307,000 | ||||||||||||||
Dividends on common stock | 0 | (284,548,000) | (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) | 235,976,000 | 1,144,000 | 6,642,101,000 | ||||||||||||||
Redeemable stock at Dec. 31, 2016 | 10,073,000 | 10,073,000 | $ 10,073,000 | 10,073,000 | |||||||||||||||||
Net Income (Loss) Allocated to Limited Partners | 12,180,000 | ||||||||||||||||||||
Net Income (Loss) Allocated to General Partners | 211,915,000 | ||||||||||||||||||||
Issuance of units | 64,833,000 | 72,759,000 | 3,406,530,000 | 3,544,122,000 | 1,240,000 | ||||||||||||||||
Units repurchased and retired | (2,019,000) | (2,019,000) | |||||||||||||||||||
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 | (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 | 6,642,082,000 | 1,246,000 | |||||||||||||||||
Dividends on noncontrolling interest units | $ 0 | (13,884,000) | (13,884,000) | ||||||||||||||||||
Preferred Stock, Shares Outstanding | 867,846 | 868,000 | |||||||||||||||||||
Preferred Stock, Value, Outstanding | $ 9,000 | $ 9,000 | |||||||||||||||||||
Noncontrolling Interest in Joint Ventures | (2,306,000) | 2,306,000 | (2,306,000) | (2,306,000) | |||||||||||||||||
Common stock shares issued (shares) | 137,000 | ||||||||||||||||||||
Common stock repurchased and retired (shares) | 51,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 10,000 | ||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Units | 29,000 | ||||||||||||||||||||
Shares, Outstanding at Dec. 31, 2017 | 113,540,000 | ||||||||||||||||||||
Net Income Attributable to Parent | 328,379,000 | ||||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | 12,157,000 | ||||||||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 340,536,000 | 340,536,000 | 340,536,000 | 0 | 340,536,000 | ||||||||||||||||
Other comprehensive income - derivative instruments (cash flow hedges) | 1,049,000 | 1,049,000 | 0 | 36,000 | 1,013,000 | 1,049,000 | |||||||||||||||
Issuance and registration of common shares | $ 2,007,000 | 0 | $ 1,000 | $ 615,000 | 0 | 1,588,000 | 616,000 | ||||||||||||||
Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants | 2,007,000 | ||||||||||||||||||||
Shares repurchased and retired | 0 | 0 | (4,782,000) | (4,782,000) | |||||||||||||||||
Exercise of stock options | 0 | 218,000 | 218,000 | ||||||||||||||||||
Shares issued in exchange for units | 0 | 0 | 1,602,000 | (1,602,000) | 0 | ||||||||||||||||
Stock Issued in Exchange for Redeemable Stock | 1,482,000 | (1,482,000) | 1,482,000 | ||||||||||||||||||
Redeemable stock fair market value | 229,000 | 229,000 | 229,000 | 0 | 229,000 | 229,000 | (229,000) | ||||||||||||||
Adjustment for Noncontrolling Interest Ownership in operating partnership | (6,000) | 6,000 | 0 | 0 | 42,000 | (42,000) | 0 | ||||||||||||||
Amortization of unearned compensation | 10,802,000 | 10,802,000 | 0 | 10,916,000 | (114,000) | 10,802,000 | |||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 14,654,000 | ||||||||||||||||||||
Dividends, Preferred Stock, Cash | 3,688,000 | 3,688,000 | 3,688,000 | 3,688,000 | $ (3,688,000) | (3,688,000) | |||||||||||||||
Dividends on common stock | 0 | (401,369,000) | (401,369,000) | ||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2017 | 6,571,588,000 | $ 1,134,000 | $ 7,121,112,000 | $ (784,500,000) | 231,676,000 | $ 2,157,000 | 6,573,894,000 | ||||||||||||||
Redeemable stock at Dec. 31, 2017 | 10,408,000 | 10,408,000 | $ 10,408,000 | $ 10,408,000 | |||||||||||||||||
Net Income (Loss) Allocated to Limited Partners | 12,157,000 | ||||||||||||||||||||
Net Income (Loss) Allocated to General Partners | 324,691,000 | ||||||||||||||||||||
Issuance of units | 0 | 616,000 | 2,623,000 | 1,588,000 | 2,007,000 | ||||||||||||||||
Units repurchased and retired | (4,782,000) | (4,782,000) | |||||||||||||||||||
Exercise of unit options | 218,000 | 218,000 | |||||||||||||||||||
General partnership units issued in exchange for limited partnership units | 1,602,000 | (1,602,000) | 0 | ||||||||||||||||||
Partnership units issued in exchange for redeemable units | (1,482,000) | (1,482,000) | $ 1,482,000 | ||||||||||||||||||
Distributions | (14,849,000) | (401,369,000) | (416,218,000) | ||||||||||||||||||
Partners' Capital at Dec. 31, 2017 | $ 231,676,000 | $ 6,270,758,000 | $ 6,573,875,000 | $ 2,295,000 | $ 66,840,000 | ||||||||||||||||
Dividends on noncontrolling interest units | $ 0 | $ (14,849,000) | $ (14,849,000) | ||||||||||||||||||
Preferred Stock, Shares Outstanding | 867,846 | 868,000 | |||||||||||||||||||
Preferred Stock, Value, Outstanding | $ 9,000 | $ 9,000 | |||||||||||||||||||
Noncontrolling Interest in Joint Ventures | $ (2,306,000) | $ (2,306,000) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Parent Company [Member] | |||
Cash flows from operating activities: | |||
Consolidated net income | $ (340,536) | $ (224,402) | $ (350,745) |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | (494,540) | (323,283) | (294,897) |
Stock compensation expense | 10,570 | 11,486 | 6,147 |
Amortization of debt premium | (9,810) | (9,820) | (15,515) |
Gain on sale of non-depreciable real estate assets | (21) | (2,171) | (172) |
Gain on sale of depreciable real estate assets excluded from discontinued operations | (127,386) | (80,397) | (189,958) |
Proceeds from Other Operating Activities | (49,916) | 17,256 | 17,577 |
Changes in assets and liabilities: | |||
Net cash provided by operating activities | 658,513 | 484,039 | 463,721 |
Cash flows from investing activities: | |||
Purchases of real estate and other assets | (136,065) | (339,186) | (328,193) |
Normal capital improvements | (343,890) | (183,977) | (166,021) |
Distributions from real estate joint ventures | 0 | (1,999) | (6) |
Contributions to Real Estate Joint Ventures | (1,500) | 0 | (32) |
Proceeds from disposition of real estate assets | 187,429 | 296,700 | 358,017 |
Return (funding) of escrow for future acquisitions | 10,591 | (58,259) | 8 |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | (427,764) | 0 |
Net cash used in investing activities | (283,435) | (710,487) | (136,215) |
Cash flows from financing activities: | |||
Net change in credit lines | (160,000) | 335,000 | (180,900) |
Proceeds from notes payable | 597,480 | 300,000 | 395,960 |
Principal payments on notes payable | (413,557) | (146,026) | (279,077) |
Payment of deferred financing costs | (5,358) | (2,395) | (7,690) |
Repurchase of common stock | (4,782) | (2,019) | (958) |
Proceeds from issuances of common shares | 1,557 | 291 | 622 |
Proceeds from Stock Options Exercised | 432 | 0 | 420 |
Dividends, Preferred Stock, Cash | (3,688) | (924) | 0 |
Distributions to noncontrolling interests | (14,654) | (13,850) | (12,898) |
Dividends paid on common shares | (395,294) | (247,652) | (232,079) |
Net cash (used in) provided by financing activities | (397,864) | 222,425 | (316,600) |
Net (decrease) increase in cash and cash equivalents | (22,786) | (4,023) | 10,906 |
Cash and cash equivalents, beginning of period | 33,536 | 37,559 | 26,653 |
Cash and cash equivalents, end of period | 10,750 | 33,536 | 37,559 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 166,757 | 144,843 | 140,811 |
Income Taxes Paid | 2,366 | 1,582 | 2,103 |
Supplemental disclosure of noncash investing and financing activities: | |||
Conversion of units to shares of common stock | 1,602 | 902 | 1,121 |
Accrued construction in progress | 7,852 | 31,491 | 5,873 |
Interest capitalized | 7,238 | 2,073 | 1,655 |
Marked-to-market adjustment on derivative instruments | 17,806 | 5,670 | 2,963 |
Fair value adjustment on debt assumed | 0 | 8,864 | 0 |
Loan assumption from the Post Properties merger | 0 | 586,744 | 0 |
Purchase Price Post | 0 | 4,006,586 | 0 |
Limited Partner [Member] | |||
Cash flows from operating activities: | |||
Consolidated net income | (340,536) | (224,402) | (350,745) |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | (494,540) | (323,283) | (294,897) |
Stock compensation expense | 10,570 | 11,486 | 6,147 |
Amortization of debt premium | (9,810) | (9,820) | (15,515) |
Gain on sale of non-depreciable real estate assets | (21) | (2,171) | (172) |
Gain on sale of depreciable real estate assets excluded from discontinued operations | (127,386) | (80,397) | (189,958) |
Proceeds from Other Operating Activities | (49,916) | 17,256 | 17,577 |
Changes in assets and liabilities: | |||
Net cash provided by operating activities | 658,513 | 484,039 | 463,721 |
Cash flows from investing activities: | |||
Purchases of real estate and other assets | (136,065) | (339,186) | (328,193) |
Normal capital improvements | (343,890) | (183,977) | (166,021) |
Distributions from real estate joint ventures | 0 | (1,999) | (6) |
Contributions to Real Estate Joint Ventures | (1,500) | 0 | (32) |
Proceeds from disposition of real estate assets | 187,429 | 296,700 | 358,017 |
Return (funding) of escrow for future acquisitions | 10,591 | (58,259) | 8 |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | (427,764) | 0 |
Net cash used in investing activities | (283,435) | (710,487) | (136,215) |
Cash flows from financing activities: | |||
Net change in credit lines | (160,000) | 335,000 | (180,900) |
Proceeds from notes payable | 597,480 | 300,000 | 395,960 |
Principal payments on notes payable | (413,557) | (146,026) | (279,077) |
Payment of deferred financing costs | (5,358) | (2,395) | (7,690) |
Repurchase of common units | (4,782) | (2,019) | (958) |
Proceeds from issuance of common units | 1,557 | 291 | 622 |
Proceeds from Stock Options Exercised | 432 | 0 | 420 |
Dividends, Preferred Stock, Cash | (3,688) | (924) | 0 |
Distributions paid on common units | (409,948) | (261,502) | (244,977) |
Net cash (used in) provided by financing activities | (397,864) | 222,425 | (316,600) |
Net (decrease) increase in cash and cash equivalents | (22,786) | (4,023) | 10,906 |
Cash and cash equivalents, beginning of period | 33,536 | 37,559 | 26,653 |
Cash and cash equivalents, end of period | 10,750 | 33,536 | 37,559 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 166,757 | 144,843 | 140,811 |
Income Taxes Paid | 2,366 | 1,582 | 2,103 |
Supplemental disclosure of noncash investing and financing activities: | |||
Accrued construction in progress | 7,852 | 31,491 | 5,873 |
Interest capitalized | 7,238 | 2,073 | 1,655 |
Marked-to-market adjustment on derivative instruments | 17,806 | 5,670 | 2,963 |
Fair value adjustment on debt assumed | 0 | 8,864 | 0 |
Loan assumption from the Post Properties merger | 0 | 586,744 | 0 |
Purchase Price Post | $ 0 | $ 4,006,586 | $ 0 |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
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 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, unless the context otherwise requires, "shareholders" means the holders of shares of MAA’s common stock. The common units of limited partnership interests in the Operating Partnership are referred to as "OP Units," and the holders of the OP Units are referred to as "common unitholders". As of December 31, 2017 , MAA owned 113,643,166 OP Units (or approximately 96.4% of the total number of OP units). 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. Management believes 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; and • creates time and cost efficiencies through the preparation of one combined set of notes instead of two separate sets MAA is a multifamily focused, self-administered and self-managed real estate trust, or REIT. 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. Management believes 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 the Company's 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 the 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, treasury shares, accumulated other comprehensive income and redeemable common stock. The Operating Partnership's capital may include common capital and preferred capital of the general partner (MAA), limited partners' common capital and preferred capital, 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 the Operating Partnership to redeem their OP Units from time to time, in which case the Operating Partnership may, at its 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, or NYSE, over a specified period prior to the redemption date) or by delivering one share of MAA's 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 a merger with Post Properties, Inc., or Post Properties. Pursuant to the Agreement and Plan of Merger, or the Merger Agreement, Post Properties merged with and into MAA, with MAA continuing as the surviving corporation, or the Parent Merger, and Post Apartment Homes, L.P., or Post LP, merged with and into MAALP, with MAALP continuing as the surviving entity, or the Partnership Merger. The Company refers 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' 8 1/2% Series A Cumulative Redeemable Preferred Stock, which is referred to as the 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 is referred to as MAA Series I preferred stock. Each newly issued share of MAA Series I preferred stock has substantially 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 the consolidated financial statements from the closing date going forward. See further discussion regarding the Merger in Note 2. As of December 31, 2017 , the Company owned and operated 301 apartment communities through the Operating Partnership. As of December 31, 2017 , MAA also owned a 35.0% interest in an unconsolidated real estate joint venture and a 31.0% interest in an unconsolidated limited partnership. As of December 31, 2017 , the Company had three development communities under construction totaling 937 apartment units, of which 240 units were completed during the year. Total expected costs for these three development projects are $214.0 million , of which $167.7 million had been incurred through December 31, 2017 . The Company expects to complete construction on one project by the first quarter of 2018, one project by the third quarter of 2018 and one project by the fourth quarter of 2018. Twenty-nine of the multifamily properties include retail components with approximately 620,000 square feet of gross leasable space. The Company also has four wholly-owned commercial properties, which were acquired through the Merger, with approximately 230,000 square feet of combined gross leasable area. Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared by the Company's 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, including the Operating Partnership. 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, 92.5% to 100% of all consolidated subsidiaries. In management's 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. The Company invests in entities which may qualify as variable interest entities, or VIEs, and MAALP is considered a 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. MAALP is classified as a VIE, since the limited partners lack substantive kick-out rights and substantive participating rights. The Company consolidates all VIEs for which it is the primary beneficiary and uses the equity method to account for investments that qualify as VIEs but for which it is not the primary beneficiary. In determining whether the Company is the primary beneficiary of a VIE, management considers both 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. The Company uses the equity method of accounting for its investments in entities for which the Company exercises significant influence, but does not have the ability to exercise control. The factors considered in determining whether the Company has the ability to exercise control include ownership of voting interests and participatory rights of investors (see "Investment in Unconsolidated Affiliates" below). Changes in Presentation In an effort to align the Company's presentation of assets, liabilities and equity in the Consolidated Balance Sheets with the presentation utilized by competitors in its industry and to enhance comparability, the Company combined "Buildings and improvements", "Furniture, fixtures and equipment" and "Corporate properties, net" into one line item "Buildings and improvements and other." The Company also combined "Deferred financing costs, net", "Other assets", and "Goodwill" into a single line item "Other assets." Finally, the Company aggregated "Accounts payable", "Fair market value of interest rate swaps", "Security deposits" and "Accrued expenses and other liabilities" into one line item "Accrued expenses and other liabilities". Prior year amounts have been changed to conform to the Company's current year presentation. These changes in presentation had no effect on the Company's total assets or total liabilities and equity. In an effort to align the Company's presentation of revenues and expenses in the Consolidated Statements of Operations with the presentation utilized by competitors in its industry and to enhance comparability, the Company combined "Rental revenues", "Other property revenues" and "Management fee income" into one line item "Rental and other property revenues". The Company also combined "Personnel", "Building repairs and maintenance", "Utilities", "Landscaping" and "Other operating" into one line item "Operating expense, excluding real estate taxes." Additionally, the Company combined "Merger related expense" and "Integration expense" into one line item "Merger and integration expense." Further, the Company aggregated the line items "Acquisition expense", "Interest and other non-property income (expense)", "Loss on debt extinguishment" and "Net casualty loss (gain)" into a single line item "Other non-operating expense." Prior year amounts have been changed to conform to the Company's current year presentation. These changes in presentation had no effect on the Company's net income. In an effort to align the Company's presentation of cash flows from operating activities and investing activities within the Consolidated Statements of Cash Flows with the presentation utilized by competitors in its industry and to enhance comparability, the Company combined "Retail revenue accretion"; "Redeemable stock expense"; "Gain (loss) from investments in real estate joint venture"; "Gain (loss) on debt extinguishment"; "Derivative interest credit"; "Settlement of forward swaps"; "Net casualty gain (loss)" and "Changes in restricted cash, other assets, accounts payable, accrued expenses and security deposits" into one line "Net change in operating accounts and other" within the cash flows from operating activities section. In addition, the Company aggregated "Normal capital improvements", "Construction capital and other", "Renovations to existing assets" and "Development" into one line "Capital improvements, development and other" within the cash flows from investing activities section. No presentation changes were made to the cash flows from financing activities section of the Consolidated Statements of Cash Flows. Prior year amounts have been changed to conform to the Company's current year presentation. These changes in presentation had no effect on the Company's ending cash and cash equivalents balance and did not impact the classification of cash flows between operating, investing and financing activities. Noncontrolling Interests At December 31, 2017 , the Company had two types of noncontrolling interests, (1) noncontrolling interests related to the common unitholders of its Operating Partnership (see Note 10) and (2) noncontrolling interest related to its consolidated real estate entity (see "Investment in Consolidated Real Estate Joint Venture" 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 Gain Recognition The Company primarily leases multifamily residential apartments under operating leases generally with terms of one year or less, which are recorded as operating leases. Rental lease revenues are recognized in accordance with Accounting Standards Codification, or ASC, 840, Leases , using a method that represents a straight-line basis over the term of the lease. Rental income represents gross market rent less adjustments for concessions, vacancy loss and bad debt. Other non-lease revenues are recognized in accordance with ASC, 605, Revenue Recognition , when such sources of revenue are earned, and the amounts are fixed and determinable. The Company records 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, the Company removes the assets and liabilities from its Consolidated Balance Sheets and recognizes the gain or loss in the period the transaction closes. Rental Costs Costs associated with rental activities are expensed as incurred and include advertising expenses, which were approximately $18.8 million , $13.0 million , and $13.5 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Real Estate Assets and Depreciation and Amortization Real estate assets are carried at depreciated cost and consist of land, buildings and improvements and other and development and capital improvements in progress (see "Development Costs" below). Repairs and maintenance costs are expensed as incurred, while significant improvements, renovations, and recurring capital replacements are capitalized and depreciated over their estimated useful lives. 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, the Company also capitalizes 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 five to 40 years. The Consolidated Balance Sheets line "Buildings and improvements and other" includes land improvements and buildings, which have a useful life ranging from eight to 40 years, as well as furniture, fixtures and equipment, which have a useful life of five years. 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 or floors within a development, amounts representing the completed portion of total estimated development costs for the project are transferred to "Land" and "Buildings and improvements and other" 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 capitalized costs (including capitalized interest, salaries and real estate taxes) during the years ended December 31, 2017 , 2016 and 2015 was approximately $11.0 million , $2.7 million and $2.3 million , respectively. Certain costs associated with the lease-up of development projects, including cost of model units, 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 The Company adopted ASU 2017-01, Clarifying the Definition of a Business (Topic 805) , effective January 1, 2017. Subsequent to the adoption of ASU 2017-01, most acquisitions of operating properties qualify as asset acquisitions rather than business combinations. Accordingly, the cost of the real estate acquired is allocated to the acquired tangible assets, consisting of land, buildings and improvements and other, and identified intangible assets, consisting of the value of in-place leases and other contracts, on a relative fair value basis. The purchase price of an acquired property is allocated based on the relative fair value of the individual components as a proportion of the total assets acquired. The Company allocates the cost of the tangible assets of an acquired property 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 cost 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 approximate at-market rates since the residential lease terms generally do not extend beyond one year. For residential leases, the fair value of the in-place leases and resident relationships is amortized over 6 months, which represents the estimated remaining term of the tenant 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 $11.2 million and $42.4 million as of December 31, 2017 , and 2016 , respectively. Accumulated amortization for these leases totaled $4.1 million and $7.3 million as of December 31, 2017 and 2016 , respectively. The amortization of these intangibles recorded as "Depreciation and amortization expense" was $29.4 million , $8.7 million , and $5.0 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. The estimated aggregate future amortization expense of in-place leases is approximately $2.8 million , $1.6 million , $0.8 million , $0.5 million , and $0.3 million for the years ended December 31, 2018, 2019, 2020, 2021, and 2022, respectively. As a result of the adoption of ASU 2017-01, the Company believes most acquisitions of operating properties will qualify as asset acquisitions and associated transaction costs will be capitalized. Acquisition costs include appraisal fees, title fees, broker fees, and other legal costs to acquire the property. For the year ended December 31, 2017 , acquisition costs totaling $1.3 million related to the Company's acquisitions of Charlotte at Midtown and Acklen West End were capitalized and allocated to the assets based on the relative fair market value of those underlying assets; see Note 15 for additional information on 2017 acquisitions. For the accounting policy on larger, portfolio style acquisitions which qualify as business combinations (rather than asset acquisitions), see Note 2. Impairment of Long-lived Assets The Company accounts for long-lived assets in accordance with the provisions of accounting standards for the impairment or disposal of long-lived assets. Management periodically evaluates long-lived assets, including investments in real estate, 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 in the Consolidated Balance Sheets 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 Consolidated Balance Sheets. Loss Contingencies The outcomes of claims, disputes and legal proceedings are subject to significant uncertainty. The Company records an accrual for loss contingencies when a loss is probable and the amount of the loss can be reasonably estimated. Management reviews these accruals quarterly and makes revisions based on changes in facts and circumstances. When a loss contingency is not both probable and reasonably estimable, management does 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 management discloses a reasonable estimate of the possible loss, or range of loss, if such reasonable estimate can be made. If the Company 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 considered 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, management's experience in similar matters, the facts available to management at the time of assessment, and how the Company intends to respond, or has responded, to the proceeding or claim. Management's assessment of these factors may change over time as individual proceedings or claims progress. For matters where management is not currently able to reasonably estimate a range of reasonably possible loss, the factors that have contributed to this determination may 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 management believes a reasonable estimate of loss, or range of loss, can be made. The Company believes that there is considerable uncertainty regarding the timing or ultimate resolution of such matters, including a possible eventual loss or business impact, if any. See Note 12 for additional information on loss contingencies. 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 Affiliates Immediately prior to the effective date of the Merger, Post Properties was an investor, together with other institutional investors, in a limited liability company, or the Apartment LLC, that indirectly owned one apartment community, Post Massachusetts Avenue, located in Washington, D.C. Post Properties owned a 35.0% equity interest in the unconsolidated joint venture, which was retained by MAA immediately following the close of the Merger and as of December 31, 2017 . The Company provides property and asset management services to the Apartment LLC for which it earns fees. The joint venture was determined to be a VIE, but the Company is not designated as a primary beneficiary. As a result, the Company accounts for its investment in the Apartment LLC using the equity method of accounting as the Company is able to exert significant influence over the joint venture but does not have a controlling interest. At December 31, 2017 , the Company's investment in the Apartment LLC totaled $45.0 million . During September 2017, a subsidiary of the Operating Partnership entered into a limited partnership together with a general partner and other limited partners to form Real Estate Technology Ventures, L.P. The Operating Partnership indirectly owns 31.0% of the limited partnership. The limited partnership was determined to be a VIE, but the Company is not designated as a primary beneficiary. As a result, the Company accounts for its investment in the limited partnership using the equity method of accounting as the investment is considered more than minor. At December 31, 2017 , the Company's investment in the limited partnership totaled $1.5 million . The Company is committed to make additional capital contributions totaling $13.5 million if and when called by the general partner of the limited partnership prior to September 2022. Investment in Consolidated Real Estate Joint Venture In 2015, Post Properties entered into a joint venture arrangement with a private real estate company to develop, construct and operate a 359 -unit apartment community in Denver, Colorado. At December 31, 2017 , the Company owned a 92.5% equity interest in the consolidated joint venture. In 2015, the joint venture acquired the land site and initiated the development of the apartment community. The venture partner will generally be responsible for the development and construction of the community and the Company will continue to manage the community upon its completion. The joint venture was determined to be a VIE with the Company designated as the primary beneficiary. As a result, the accounts of the joint venture are consolidated by the Company. At December 31, 2017 , the consolidated assets, liabilities and equity included construction in progress of $36.9 million ; buildings and improvements and other of $33.9 million ; land of $14.9 million ; and accrued expenses and other liabilities of $6.5 million . Cash and Cash Equivalents Investments in money market accounts and certificates of deposit with original maturities of three months or less are considered 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 Statements of Cash Flows. Other Assets Other assets consist primarily of receivables and deposits from residents, the value of derivative contracts, deferred rental concessions, deferred financing costs relating to lines of credit, and other prepaid expenses. Also included in other assets are the fair market value of in-place leases and resident relationships, net of accumulated amortization. Accrued Expenses and Other Liabilities Accrued expenses consist of accrued dividends payable, accrued real estate taxes, accrued interest payable, accrued loss contingencies, accounts payable, fair market value of interest rate swaps (see Note 7), security deposits not related to restricted cash, other accrued expenses, and unearned income. Significant accruals include accrued dividends payable of $108.7 million and $102.4 million at December 31, 2017 and 2016 , respectively; accrued real estate taxes of $99.6 million and $97.6 million at December 31, 2017 and 2016 , respectively; unearned income of $40.8 million and $39.4 million at December 31, 2017 and 2016 , respectively; accrued loss contingencies of $32.1 million and $42.1 million at December 31, 2017 and 2016 , respectively; security deposits of $19.1 million and $18.8 million at December 31, 2017 and 2016 , respectively; and accrued interest payable of $18.1 million and $19.1 million at December 31, 2017 and 2016 , respectively. Self-Insurance The Company is self-insured for workers' compensation claims up to $500,000 and for general liability claims up to $100,000 . The Company accrues 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 Internal Revenue Code of 1986, as amended, or the Code, 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 requirem |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
BUSINESS COMBINATIONS | BUSINESS COMBINATIONS Merger of MAA and Post Properties The Company completed the Merger on December 1, 2016. As part of the Merger, the Company acquired 61 wholly-owned apartment communities encompassing 24,138 units, including 269 apartment units in one community held in an unconsolidated entity, and 2,262 apartment units in six communities that were under development at the date of the Merger. Post Properties had operations in ten markets across the United States. In addition to the apartment communities, the Company also acquired four commercial properties, totaling approximately 232,000 square feet of combined gross leasable area. The consolidated net assets and results of operations of Post Properties are included in the Company's consolidated financial statements from the closing date going forward. The total purchase price of approximately $4.0 billion was determined based on the number of shares of Post Properties' common stock, the number of shares of Post Properties’ Series A preferred stock, and the number of shares of Post LP's Class A Units of limited partnership interest outstanding as of December 1, 2016, in addition to cash consideration provided by the Operating Partnership immediately prior to the Merger to retire a $300.0 million unsecured term loan and a $162.0 million line of credit. 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). At the date of acquisition, the MAA Series I preferred stock consideration was valued at $77 per share, which included a $14.24 per share bifurcated call option (See Notes 7 and 9). The total purchase price also included $2.0 million of other consideration, a majority of which related to assumed stock compensation plans. As a result of the Merger, the Company issued approximately 38.0 million shares of MAA common stock, approximately 80,000 OP units, and 867,846 newly issued shares of MAA’s Series I 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, such as 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 specialist 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 specialist to ensure reasonableness and the procedures are performed in accordance with management's policies. The allocation of the purchase price valuation described above required a significant amount of judgment and represents management's best estimate of the fair value as of the acquisition date. The following final purchase price allocation for the Merger was based on the Company's 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 final purchase price allocation as of the date of the Merger (in thousands): December 1, 2016 Land $ 874,616 Buildings and improvements and other 3,479,483 Development and capital improvements in progress 183,881 Undeveloped land 24,200 Investment in real estate joint venture 44,435 Cash and cash equivalents 34,292 Restricted cash 3,608 Other assets 94,899 Total assets acquired 4,739,414 Notes payable (595,609) Accrued expenses and other liabilities (132,906) Total liabilities assumed, including debt (728,515 ) Noncontrolling interests - consolidated real estate entity (2,306 ) Total purchase price $ 4,008,593 The allocation of fair values of the assets acquired and liabilities assumed changed from the allocation reported in Note 2 to the consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2016 , filed with the SEC on February 24, 2017. The changes were based on information concerning the subject assets and liabilities that was not yet known at the time of the filing of the Annual Report on Form 10-K for the year ended December 31, 2016 . Specifically, the purchase price allocation was updated primarily due to an adjustment to litigation reserves offset by an increase in the derivative asset value of the preferred share bifurcated call option (included in "Other assets") and real estate values. The Company incurred total merger and integration related expenses of $20.0 million and $40.8 million for the years ended December 31, 2017 and 2016 , respectively. The amounts were expensed as incurred and are included in the Consolidated Statements of Operations in "Merger and integration expenses". Merger related expenses primarily consisted of severance and professional costs, and integration related expenses primarily consisted of temporary systems, staffing, and facilities costs. |
Earnings Per Common Share of MA
Earnings Per Common Share of MAA | 12 Months Ended |
Dec. 31, 2017 | |
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 common shares outstanding during the period. All outstanding unvested restricted share awards contain rights to non-forfeitable dividends and participate in undistributed earnings with 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 diluted earnings per share being the more dilutive of the treasury stock or two-class methods. OP Units are included in dilutive earnings per share calculations when the units are dilutive to earnings per share. For the years ended December 31, 2017 , 2016 , and 2015 , MAA's basic earnings per share is computed using the two-class method, as the two-class method is the more dilutive calculation, and is presented below (dollars and shares in thousands, except per share amounts): 2017 2016 2015 Common Shares Outstanding Weighted average common shares - basic 113,407 78,502 75,176 Effect of dilutive securities 280 298 — (1) Weighted average common shares - diluted 113,687 78,800 75,176 Calculation of Earnings per Common Share - basic Net income $ 340,536 $ 224,402 $ 350,745 Net income attributable to noncontrolling interests (12,157 ) (12,180 ) (18,458 ) Unvested restricted stock (allocation of earnings) (535 ) (572 ) (772 ) Preferred dividends (3,688 ) (307 ) — Net income available for common shareholders, adjusted $ 324,156 $ 211,343 $ 331,515 Weighted average common shares - basic 113,407 78,502 75,176 Earnings per common share - basic $ 2.86 $ 2.69 $ 4.41 Calculation of Earnings per Common Share - diluted Net income $ 340,536 $ 224,402 $ 350,745 Net income attributable to noncontrolling interests (12,157 ) (2) (12,180 ) (2) (18,458 ) (2) Unvested restricted stock (allocation of earnings) — — (772 ) (1) Preferred dividends (3,688 ) (307 ) — Net income available for common shareholders, adjusted $ 324,691 $ 211,915 $ 331,515 Weighted average common shares - diluted 113,687 78,800 75,176 Earnings per common share - diluted $ 2.86 $ 2.69 $ 4.41 (1) For the year ended December 31, 2015, 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. (2) For the years ended December 31, 2017 , 2016 , and 2015 , 4.2 million OP units and their related income are not included in the diluted earnings per share calculations as they are not dilutive. |
Earnings Per OP Unit of MAALP
Earnings Per OP Unit of MAALP | 12 Months Ended |
Dec. 31, 2017 | |
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 OP 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, 2017 , 2016 , and 2015 is presented below (dollars and units in thousands, except per unit amounts): 2017 2016 2015 Common Units Outstanding Weighted average common units - basic 117,617 82,661 79,361 Effect of dilutive securities 280 298 — (1) Weighted average common units - diluted 117,897 82,959 79,361 Calculation of Earnings per Common Unit - basic Net income $ 340,536 $ 224,402 $ 350,745 Unvested restricted stock (allocation of earnings) (535 ) (574 ) (772 ) Preferred unit distributions (3,688 ) (307 ) — Net income available for common unitholders, adjusted $ 336,313 $ 223,521 $ 349,973 Weighted average common units - basic 117,617 82,661 79,361 Earnings per common unit - basic: $ 2.86 $ 2.70 $ 4.41 Calculation of Earnings per Common Unit - diluted Net income $ 340,536 $ 224,402 $ 350,745 Unvested restricted stock (allocation of earnings) — — (772 ) (1) Preferred unit distributions (3,688 ) (307 ) — Net income available for common unitholders, adjusted $ 336,848 $ 224,095 $ 349,973 Weighted average common units - diluted 117,897 82,959 79,361 Earnings per common unit - diluted: $ 2.86 $ 2.70 $ 4.41 (1) For the year ended December 31, 2015, 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, 2017 | |
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 a number of incentives provided to attract and retain independent directors, executive officers and key employees. Incentives are currently granted under the Amended and Restated 2013 Stock Incentive Plan, or the Stock Plan, which was approved at the 2014 annual meeting of MAA shareholders. The Stock 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, compensation expense is adjusted for actual forfeitures for all awards in the period that the award was forfeited. 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 in "General and administrative expenses". Effective January 1, 2017, the Company adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which allows employers to make a policy election to account for forfeitures as they occur. The Company elected this option using the modified retrospective transition method, with a cumulative effect adjustment to retained earnings, and there was no material effect on the consolidated financial position or results of operations taken as a whole resulting from the reversal of previously estimated forfeitures. Total compensation expense under the Stock Plan was approximately $10.8 million , $12.2 million and $6.9 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. Of these amounts, total compensation expense capitalized was approximately $0.2 million , $0.7 million and $0.7 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. As of December 31, 2017 , the total unrecognized compensation expense was approximately $14.1 million . This cost is expected to be recognized over the remaining weighted average period of 1.2 years . Total cash paid for the settlement of plan shares totaled $4.8 million , $2.0 million and $1.0 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. Information concerning grants under the Stock Plan 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 generally 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 funds from operations, or 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, 2017 , 2016 and 2015 , was $84.53 , $73.20 and $68.35 , 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, 2017 , 2016 and 2015 : 2017 2016 2015 Risk free rate 0.65% - 1.57% 0.49% - 1.27% 0.10% - 1.05% Dividend yield 3.573% 3.634% 3.932% Volatility 20.43% - 21.85% 18.41% - 19.45% 15.41% - 16.04% Requisite 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, 2017 , 2016 and 2015 . The maximum risk free rate was based on a period of 3 years for the years ended December 31, 2017 , 2016 and 2015 . 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 3 years , 2 years and 1 year for the years ended December 31, 2017 , 2016 and 2015 , respectively. The maximum volatility was based on a period of 1 year , 1 year and 2 years for the years ended December 31, 2017 , 2016 and 2015 , respectively. The requisite service period is based on the criteria for the separate programs according to the vesting schedule. A summary of the status of the nonvested restricted shares as of December 31, 2017 , and the changes for the year ended December 31, 2017 , is presented below: Nonvested Shares Shares Weighted Average Grant-Date Fair Value Nonvested at January 1, 2017 225,624 $ 71.61 Issued 106,113 87.09 Vested (147,687 ) 70.90 Forfeited (3,358 ) 84.97 Nonvested at December 31, 2017 180,692 $ 81.13 The total fair value of shares vested during the years ended December 31, 2017 , 2016 and 2015 was approximately $10.5 million , $5.1 million and $2.9 million , respectively. Stock Options 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. No stock options were granted during the years ended December 31, 2017 or December 31, 2015 . During the year ended December 31, 2016 , 108,198 fully vested stock options were granted with a weighted average grant date fair value of $18.08 per option as a result of options exchanged during the Merger. 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 Risk free rate 0.64% - 2.63% Dividend yield 3.81% Volatility 21.02% - 21.57% Expected term 1.11 - 2.11 years The U.S. Treasury bill rate was used to represent the risk-free rate based on the expected life of the option. 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 term of the stock options. The expected term represents an estimate of the period of time options are expected to remain outstanding. A summary of the status of the stock options as of December 31, 2017 and the changes for the year ended December 31, 2017 is presented below: Stock Options Options Weighted Average Exercise Price Outstanding at January 1, 2017 147,282 $ 76.16 Granted — — Exercised (21,006 ) 64.92 Expired (17,838 ) 109.05 Outstanding at December 31, 2017 108,438 $ 72.93 All options outstanding at December 31, 2017 were exercisable and had an intrinsic value of $3.0 million with a weighted average remaining term of 6.0 years . There were 21,006 options and 7,342 options exercised during the years ended December 31, 2017 and 2015 , respectively. Cash received from the exercise of stock options totaled $0.4 million for both the years ended December 31, 2017 and 2015 , respectively. During the year ended December 31, 2016 , no cash was received from the exercise of stock options as no options were exercised. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Borrowings [Abstract] | |
BORROWINGS | BORROWINGS The following table summarizes the Company's outstanding debt as of December 31, 2017 (dollars in thousands): Borrowed Effective Contract Unsecured debt Variable rate revolving credit facility $ 410,000 2.5 % 4/15/2020 Fixed rate senior notes 2,292,000 4.0 % 11/13/2024 Term loans fixed with swaps 550,000 3.0 % 4/17/2018 Variable rate term loans 300,000 2.3 % 8/29/2020 Fair market value adjustments, debt issuance costs and discounts (26,235 ) Total unsecured debt $ 3,525,765 3.5 % 12/19/2022 Fixed rate secured debt Individual property mortgages $ 882,752 4.0 % 10/9/2019 Variable rate secured debt (1) Fannie Mae Facility 80,000 1.8 % 12/1/2018 Fair market value adjustments and debt issuance costs 13,540 Total secured debt $ 976,292 3.8 % 9/13/2019 Total outstanding debt $ 4,502,057 3.6 % 3/11/2022 (1) Includes capped balances Unsecured Revolving Credit Facility The Company maintains a $1.0 billion unsecured credit facility with a syndicate of 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 the London Interbank Offered Rate, or LIBOR, plus a spread of 0.85% to 1.55% based on an investment grade pricing grid and is currently bearing interest at 2.47% . The KeyBank Facility expires in April 2020 with an option to extend for an additional six months. At December 31, 2017 , the Company had $410.0 million outstanding under the facility with another approximate $2.5 million of additional capacity used to support outstanding letters of credit. During the year ended December 31, 2017 , the facility balance decreased by $80.0 million as result of $885.0 million in payments to the facility offset by $805.0 million in proceeds from the facility. Senior Unsecured Notes As of December 31, 2017 , the Company had approximately $2.0 billion in principal amount of publicly issued senior unsecured notes and $292.0 million of privately placed senior unsecured notes. These senior unsecured notes had maturities at issuance ranging from seven to twelve years, averaging 6.9 years remaining until maturity as of December 31, 2017 . In May 2017, the Operating Partnership publicly issued $600.0 million in aggregate principal amount of notes, maturing on June 1, 2027 with an interest rate of 3.60% per annum, or the 2027 Notes. The purchase price paid by the initial purchasers was 99.58% of the principal amount. The 2027 Notes 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. Interest on the 2027 Notes is payable on June 1 and December 1 of each year, beginning on December 1, 2017. The net proceeds from the offering, after deducting the original issue discount of approximately $2.5 million and underwriting commissions and expenses of approximately $3.9 million , were approximately $593.6 million . The 2027 Notes have been reflected net of discount and debt issuance costs in the Consolidated Balance Sheets. In connection with the issuance of the 2027 Notes, the Operating Partnership cash settled $300 million in forward interest rate swap agreements. After considering the forward interest rate swaps, the effective interest rate of the 2027 Notes was 3.68% over the ten year term. In July 2017, the Company retired $150.0 million of senior unsecured notes that had been assumed as part of the Merger. The notes were scheduled to mature in October 2017. In November 2017, the Company retired $18.0 million of privately placed senior unsecured notes at maturity. Unsecured Term Loans The Company maintains four term loans with a syndicate of banks, one led by KeyBank National Association, or KeyBank, two by Wells Fargo Bank, N.A., or Wells Fargo, and one by U.S. Bank National Association, or U.S. 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 the Company's credit ratings. The Wells Fargo term loans have balances of $250.0 million and $300.0 million , respectively, mature in 2018 and 2022, respectively, and have variable interest rates of LIBOR plus spreads of 0.90% to 1.90% and 0.90% to 1.75% , respectively, based on the Company's credit ratings. The U.S. 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% based on the Company's credit ratings. Secured Property Mortgages As of December 31, 2017 , the Company had $882.8 million of fixed rate conventional property mortgages with an average interest rate of 4.0% and an average maturity in 2019. In February 2017, the Company retired a $15.8 million mortgage associated with the Grand Cypress apartment community. The mortgage was scheduled to mature in August 2017. In May 2017, the Company retired a $156.4 million mortgage associated with the following apartment communities: CG at Edgewater, CG at Madison, CG at Seven Oaks, CG at Town Park, CG at Barrett Creek, CG at River Oaks, and CG at Huntersville. The mortgage was scheduled to mature in June 2019. In September 2017, the Company retired a $13.9 million mortgage associated with the Venue at Stonebridge Ranch. The mortgage was scheduled to mature in December 2017. In December 2017, the Company retired a $20.1 million mortgage associated with La Valencia at Starwood. The mortgage was scheduled to mature in March 2018. In December 2017, the Company retired a $27.4 million mortgage associated with CG at Trinity Commons. The mortgage was scheduled to mature in April 2018. In addition to these retirements, the Company paid $12.0 million associated with property mortgage principal amortizations during the year ended December 31, 2017 . Secured Credit Facility The Company maintains a $80.0 million secured credit facility with Prudential Mortgage Capital, which is credit enhanced by the Federal National Mortgage Association, or the Fannie Mae Facility. The Fannie Mae Facility matures in 2018. Borrowings under the Fannie Mae Facility totaled $80.0 million at December 31, 2017 , all of which was variable rate at an average interest rate of 1.8% . The available borrowing capacity at December 31, 2017 was $80.0 million . During the year ended December 31, 2017 , the Fannie Mae Facility outstanding balance decreased $80.0 million as the result of a November 2017 maturity payment. The following table summarizes interest rate ranges, maturity and balance of the Company's indebtedness, net of fair market value adjustments, debt issuance costs and discounts, as of December 31, 2017 and the balance of the Company's indebtedness, net of fair market value adjustments, debt issuance costs and discounts, as of December 31, 2016 (dollars in millions): December 31, 2017 Actual Interest Rates Current Average Interest Rate Maturity Balance Balance as of Fixed rate Unsecured 3.38 - 5.57% 3.97% 2018-2027 $ 2,292.0 $ 1,860.0 Secured 3.00 - 5.49% 3.97% 2018-2025 882.8 1,128.3 Interest rate swaps 2.45 - 3.55% 2.96% 2018 550.0 850.0 $ 3,724.8 $ 3,838.3 Variable rate (1) Unsecured 2.31 - 2.47% 2.41% 2020-2021 $ 710.0 $ 490.0 Secured 1.76% 1.76% 2018 55.0 110.0 Secured interest rate cap 1.76% 1.76% 2018 25.0 50.0 $ 790.0 $ 650.0 Fair market value adjustments, debt issuance costs and discounts (12.7 ) 11.4 $ 4,502.1 $ 4,499.7 (1) Amounts are adjusted to reflect interest rate swap and cap agreements in effect at December 31, 2017 , and 2016 , respectively, which results in 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 Company's outstanding borrowings at December 31, 2017 , as well as the amortization of the fair market value of debt assumed, debt discounts and issuance costs (in thousands): Year Amortization Maturities Total 2018 $ 19,016 $ 418,141 $ 437,157 2019 4,653 562,784 567,437 2020 1,967 712,456 714,423 2021 (1,462 ) 340,618 339,156 2022 (2,037 ) 667,000 664,963 Thereafter (3,468 ) 1,782,389 1,778,921 $ 18,669 $ 4,483,388 $ 4,502,057 Guarantees MAA fully and unconditionally guarantees the following debt incurred by the Operating Partnership: • $80.0 million of the Fannie Mae Facility, all of which has been borrowed as of December 31, 2017 ; and • $292.0 million of the privately placed senior unsecured notes. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2017 | |
Notes To Financial Statements [Abstract] | |
DERIVATIVES AND HEDGING ACTIVITIES | Financial Instruments Not Carried at Fair Value Cash and cash equivalents, restricted cash and accrued expenses and other liabilities are carried at amounts that reasonably approximate their fair value due to their short term nature. Fixed rate notes payable at December 31, 2017 and December 31, 2016 , totaled $3.2 billion and $3.0 billion , respectively, and had estimated fair values of $3.3 billion and $3.1 billion (excluding prepayment penalties), respectively, as of December 31, 2017 and December 31, 2016 . The carrying value of variable rate notes payable (excluding the effect of interest rate swap and cap agreements) at December 31, 2017 and December 31, 2016 , totaled $1.3 billion and $1.5 billion , respectively, and had estimated fair values of $1.3 billion and $1.5 billion (excluding prepayment penalties), respectively, as of December 31, 2017 and December 31, 2016 . The fair values of fixed rate 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 rate debt are determined using the stated variable rate plus the current market credit spread. The variable rates reset every 30 to 90 days, and management concluded that these rates reasonably estimate current market rates. Management has determined the inputs used to value the outstanding debt fall within Level 2 of the fair value hierarchy, and therefore, the fair market valuation of debt is considered Level 2 in the fair value hierarchy. Financial Instruments Measured at Fair Value on a Recurring Basis The Company uses interest rate swaps and interest rate caps to add stability to interest expense and to manage its exposure to interest rate movements. 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. The fair value of interest rate derivative contracts designated as hedging instruments recorded in "Other assets" in the accompanying Consolidated Balance Sheets was $3.6 million and $2.4 million as of December 31, 2017 and December 31, 2016 , respectively. The fair value of interest rate derivative contract liabilities recorded in "Accrued expenses and other liabilities" in the accompanying Consolidated Balance Sheets was $1.3 million and $7.6 million as of December 31, 2017 and December 31, 2016 , respectively. To comply with the provisions of ASC 820, management incorporates credit valuation adjustments to appropriately reflect both its nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of the derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. Based on the fair value measurement guidance issued by the Financial Accounting Standard Board, the Company made an accounting policy election to measure the credit risk of its 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 MAA Series I preferred stock issued in connection with Merger is valued using widely accepted valuation techniques, including a discounted cash flow analysis in which the perpetual value of the preferred shares is compared to the value of the preferred share assuming the call option is exercised, with 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, which are redeemable at the Company's option beginning on October 1, 2026 and at the redemption price of $50 per share (see Note 9). The analysis uses observable market-based inputs, including trading data available on the preferred shares, coupon yields on preferred stock issuances from REITs with similar credit ratings as MAA and treasury rates to determine the fair value of the bifurcated call option. The redemption feature embedded in the MAA Series I preferred stock is reported as a derivative asset in "Other assets" in the accompanying Consolidated Balance Sheets and is adjusted to its fair value at each reporting date, with a corresponding non-cash adjustment to "Other non-operating income or expense" in the accompanying Consolidated Statements of Operations. 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 as of December 31, 2016 and then subsequently adjusted to its fair value of $21.2 million at December 31, 2017 . The $10.4 million increase includes a purchase price allocation adjustment of $1.6 million , which is included in the Merger's opening balance sheet, and was recorded in the first quarter of 2017, as well as $8.8 million of mark to market adjustments of non-cash income recorded to reflect the change in fair value of the derivative asset in the year ended December 31, 2017 . The Company has determined the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, and as a result, all of its derivatives held as of December 31, 2017 and December 31, 2016 were classified as Level 2 in the fair value hierarchy. Cash Flow Hedges of Interest Rate Risk 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. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings and is mainly attributable to a mismatch in the underlying indices of the derivatives and the hedged interest payments made on the 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" related to derivatives designated as qualifying cash flow hedges will be reclassified to interest expense as interest payments are made on the Company's variable rate or fixed rate debt. During the next twelve months, the Company estimates that an additional $0.9 million will be reclassified to earnings as an increase to "Interest expense", which primarily represents the difference between the fixed interest rate swap payments and the projected variable interest rate swap receipts. As of December 31, 2017 , the Company 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 cap 1 $25,000,000 Interest rate swaps 10 $550,000,000 Tabular Disclosure of the Effect of Derivative Instruments on the Statements of Operations The tables below present the effect of the Company's derivative financial instruments on the Consolidated Statements of Operations for the years ended December 31, 2017 , 2016 and 2015 , respectively (in thousands): Derivatives in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion) Amount of Gain (Loss) Reclassified from Accumulated OCI into Interest Expense (Effective Portion) Location of Gain (Loss) Recognized in Earnings on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Gain (Loss) Recognized in Interest Expense (Ineffective Portion and Amount Excluded from Effectiveness Testing) Year ended December 31, 2017 2016 2015 2017 2016 2015 2017 2016 2015 Interest rate contracts $ 319 $ (1,500 ) $ (8,306 ) Interest expense $ (730 ) $ (4,364 ) $ (7,064 ) Interest expense $ 197 $ (54 ) $ (100 ) Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative Amount of Gain (Loss) Recognized in Earnings on Derivative For the year ended December 31, 2017 2016 2015 Interest rate products Interest expense $ — $ — $ (3 ) Preferred stock embedded derivative Non-operating income 8,807 — — Total derivatives not designated as hedging instruments $ 8,807 $ — $ (3 ) Credit-risk-related Contingent Features Certain of the Company's derivative contracts contain a provision where the Company could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company's default on the indebtedness. As of December 31, 2017 , the Company had not breached the provisions of these agreements. If the provisions had been breached, the Company could have been required to settle its obligations under the agreements at the termination value of $1.6 million . Although the Company's derivative contracts are subject to master netting arrangements, which serve as credit mitigants to both the Company and its counterparties under certain situations, the Company does not net its derivative fair values or any existing rights or obligations to cash collateral in the Consolidated Balance Sheets. Other Comprehensive Income The Company's other comprehensive income consists entirely of gains and losses attributable to the effective portion of its cash flow hedges. The chart below reflects the change in the balance for the years ended December 31, 2017 , 2016 , and 2015 (in thousands): Changes in Accumulated Other Comprehensive Income (Loss) from Cash Flow Hedges by Component Affected Line Item in the Consolidated Statements of Operations 2017 2016 2015 Beginning balance $ 1,144 $ (1,589 ) $ (412 ) Other comprehensive income (loss) before reclassifications 319 (1,500 ) (8,306 ) Amounts reclassified from Accumulated other comprehensive income (interest rate contracts) Interest expense 730 4,364 7,064 Net current period other comprehensive (income) loss attributable to noncontrolling interests (36 ) (131 ) 65 Net current period other comprehensive income (loss) attributable to MAA 1,013 2,733 (1,177 ) Ending balance $ 2,157 $ 1,144 $ (1,589 ) |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
INCOME TAXES | INCOME TAXES Due to the structure of MAA as a REIT and the nature of the operations of its operating properties, no provision for federal income taxes has been made at the MAA level. In addition, as MAALP is structured as a limited partnership, and its partners recognize their proportionate share of income or loss in their tax returns, no provision for federal income taxes has been made at the MAALP level. Historically, the Company has incurred certain state and local income, excise and franchise taxes. The Company has elected TRS status for certain of its corporate subsidiaries. As a result, the TRSs incur both federal and state income taxes on any taxable income after consideration of any net operating losses. Taxable REIT Subsidiaries The Company acquired the operations of a TRS, Colonial Properties Services, Inc., or CPSI, through an acquisition in 2013. As a result, CPSI’s tax attributes were included in MAA’s consolidated financial statements subsequent to the acquisition date. CPSI has provided property development, construction, leasing and management services for joint venture and third-party owned properties, administrative services to MAA and engaged in for-sale development activity. CPSI also owned and operated two multifamily apartment communities; 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. In 2017, CPSI converted from a corporation to a limited liability company, which resulted in a deemed liquidation for income tax purposes. At the date of conversion, CPSI changed its name to CPSI, LLC and is no longer a TRS. CPSI, LLC is currently a disregarded entity for income tax purposes, is solely owned by MAALP and owns undeveloped land. The Company acquired the operations of a TRS, Post Asset Management, Inc., or PAM, through the Merger in 2016. As a result, PAM’s tax attributes are included in MAA’s consolidated financial statements subsequent to the acquisition date. PAM provides third-party services to MAA and MAA’s indirectly owned properties. PAM also owns a tract of undeveloped land. The Company generally reimburses its TRSs for payroll and other costs incurred in providing services to MAA. All intercompany 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. The Company’s TRSs did not generate any material taxable income or income tax expense for the years ended December 31, 2017 , 2016 and 2015 . The TRSs use the liability method of accounting for income taxes. Deferred income tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. As a result of the CPSI conversion to CPSI, LLC and deemed liquidation, the Company’s deferred tax asset and liability balances as of December 31, 2017 were immaterial. As of December 31, 2016 , the Company had recorded net deferred tax assets relating to CPSI, which included a net operating loss, or NOL, of $58.2 million . The net deferred tax assets were fully offset by a valuation allowance as it was more likely than not the net deferred tax assets would not be realized. For the years ended December 31, 2017 and 2016 , the components of the Company’s deferred income tax assets and liabilities were as follows (in thousands): December 31, 2017 December 31, 2016 Deferred tax assets Real estate asset basis differences $ — $ 13,387 Deferred expenses — 12,481 Net operating loss carryforward — 32,585 Accrued liabilities — 102 $ — $ 58,555 Deferred tax liabilities Real estate asset basis differences $ — $ (311 ) Net deferred tax assets, before valuation allowance $ — $ 58,244 Valuation allowance — (58,244 ) Net deferred tax assets $ — $ — For the years ended December 31, 2017 , 2016 , and 2015 , 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 (in thousands): 2017 2016 2015 Tax expense at U.S. statutory rates on TRS income subject to tax $ 2,177 $ 3,185 $ 2,506 Effect of permanent differences and other — — (730 ) Decrease in valuation allowance (2,177 ) (3,185 ) (1,776 ) TRS income tax provision $ — $ — $ — The Company had no reserve for uncertain tax positions for the years ended December 31, 2017 , 2016 and 2015 . If necessary, the Company accrues interest and penalties on unrecognized tax benefits as a component of income tax expense. For the years ended December 31, 2017 , 2016 and 2015 , 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 Statements of Operations represents the Texas-based margin tax for all Texas properties and federal and state taxes for PAM. As of December 31, 2017 and 2016 , the Company held federal NOL carryforwards of approximately $71.5 million for income tax purposes that expire in years 2019 to 2033. During the year ended December 31, 2016 , the Company's NOL increased by $25.2 million through its acquisition of Post Properties. Utilization of any 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. The Company may use these NOLs to offset all or a portion of the taxable income generated at the REIT level. Tax years 2014 through 2017 are subject to examination by the Internal Revenue Service. No tax examination is currently in process. 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, 2017 , 2016 and 2015 , dividends per share held for the entire year were estimated to be taxable as follows: 2017 2016 2015 Amount Percentage Amount Percentage Amount Percentage Ordinary income $ 2.79 80.2 % $ 3.28 100 % $ 3.07 99.7 % Capital gain 0.31 8.9 % — — % — — % Un-recaptured Section 1250 gain 0.38 10.9 % — — % 0.01 0.3 % $ 3.48 100.00 % $ 3.28 100.00 % $ 3.08 100.00 % The Company 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 taxable gains on sold properties in 2017. Merger As discussed in Note 2, on December 1, 2016, the Company completed the Merger, whereby Post Properties merged with and into MAA completing the Parent Merger and Post LP merged with and into MAALP completing the Partnership Merger. The Company believes the Parent Merger constituted a tax free merger under Code Section 368(a). Additionally, the Company believes the Partnership Merger constituted a tax free merger under Code Section 708. As a result of the tax free merger treatment, the Merger did not result in the recognition of a gain to any security holder of MAA, Post Properties, MAALP or Post LP. U.S. Tax Reform In December 2017, the Tax Cuts and Jobs Act, or the Act, was enacted in the United States, requiring companies to account in 2017 for the current and future effects of the legislative changes. As REITs are pass-through entities for the purpose of U.S. federal taxation, the legislative changes created by the Act are largely not applicable to the Company. Generally, the effects to REITs resulting from the Act include a reduction in the TRS federal statutory tax rate to 21% and a one-time inclusion in REIT taxable income of foreign subsidiary earnings. As noted above, the TRS’s recognized no material taxable income in 2017 and the Company has no foreign subsidiaries. Management has concluded there was no material effect to the Company’s consolidated financial statements from either a tax or financial statement perspective as a result of the Act. |
Shareholder's Equity
Shareholder's Equity | 12 Months Ended |
Dec. 31, 2017 | |
Shareholder's Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | SHAREHOLDERS' EQUITY OF MAA On December 31, 2017 , 113,643,166 shares of common stock of MAA and 4,191,586 OP Units (excluding the OP Units held by MAA) were issued and outstanding, representing a total of 117,834,752 shares and units. At December 31, 2016 , 113,518,212 shares of common stock of MAA and 4,220,403 OP units were outstanding, representing a total of 117,738,615 shares and units. Options to purchase 108,438 shares of MAA's common stock were outstanding as of December 31, 2017 compared to 147,282 outstanding options as of December 31, 2016 . During the year ended December 31, 2017 , 47,956 shares of MAA's 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, 2016 , 22,067 shares were acquired for such purposes. Preferred Stock As of December 31, 2017 , MAA had one outstanding series of cumulative redeemable preferred stock which has the following characteristics: Description Outstanding Shares Liquidation Preference (1) Optional Redemption Date Redemption Price (2) Stated Dividend Yield Approximate Dividend Rate Series I 867,846 $50.00 10/1/2026 $50.00 8.50% $4.25 (1) The total liquidation preference for the outstanding preferred stock is $43.4 million . (2) The redemption price is the price at which the preferred stock is redeemable, at MAA's option, for cash. Noncontrolling Interests Noncontrolling interests in the accompanying consolidated financial statements relates to the limited partnership interests in the Operating Partnership owned by the holders of the Class A OP Units, or Class A Units. MAA is the sole general partner of the Operating Partnership and holds all of the outstanding Class B OP Units, or Class B Units. Net income (after allocations to preferred ownership interests) is allocated to MAA and the noncontrolling interests 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 interests 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 MAA's common stock issued. At each reporting period, the allocation between total MAA shareholders’ equity and noncontrolling interests 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, 2017 , a total of 4,191,586 Class A Units were outstanding and redeemable by the holders of the units for 4,191,586 shares of MAA common stock or approximately $421.5 million , based on the closing price of MAA’s common stock on December 31, 2017 of $100.56 per share, at MAA’s option. At December 31, 2016 , a total of 4,220,403 Class A Units were outstanding and redeemable 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. 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. The Operating Partnership's net income for 2017 , 2016 and 2015 was allocated approximately 3.6% , 5.0% and 5.2% , respectively, to holders of Class A Units and 96.4% , 95.0% and 94.8% , respectively, to MAA as the holder of all Class B Units. MAA further determined that the noncontrolling interest in its consolidated real estate entity totaling $2.3 million (see Note 1) 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 common shareholders have the ability to reinvest all or part of their distributions from MAA into shares of MAA’s common stock and holders of Class A Units have the ability to reinvest all or part of their distributions from the Operating Partnership 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 MAA's common stock totaling 9,568 in 2017 , 7,906 in 2016 , and 8,562 in 2015 were acquired by participants under the DRSPP. MAA did not offer a discount for optional cash purchases in 2017 , 2016 or 2015 . |
Partners' Capital of MAA LP
Partners' Capital of MAA LP | 12 Months Ended |
Dec. 31, 2017 | |
Partners' Capital of MAA LP [Abstract] | |
Partners' Capital Notes Disclosure [Text Block] | PARTNERS' CAPITAL OF MAALP OP Units Interests in MAALP are represented by OP Units. As of December 31, 2017 , there were 117,834,752 OP Units outstanding, 113,643,166 or 96.4% of which were owned by MAA, MAALP's general partner. The remaining 4,191,586 OP Units were owned by non-affiliated limited partners, or Class A Limited Partners. 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 and 4,220,403 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 MAALP's agreement of limited partnership, or 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, 2017 , a total of 4,191,586 Class A Units in the Operating Partnership were held by limited partners unaffiliated with MAA, while a total of 113,643,166 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 NYSE 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, 2017 , a total of 4,191,586 Class A Units were outstanding and redeemable for 4,191,586 shares of MAA common stock, with an approximate value of $421.5 million , based on the closing price of MAA’s common stock on December 31, 2017 of $100.56 per share. 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. 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, 2017 | |
Employee Benefit Plans [Abstract] | |
EMPLOYEE BENEFIT PLANS | EMPLOYEE BENEFIT PLANS The following provides details of the employee benefit plans not previously discussed in Note 5. 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 $2.8 million , $2.0 million and $1.0 million for the years ended December 31, 2017 , 2016 and 2015 , 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, 2017 , 2016 and 2015 was approximately $249,000 , $96,000 and $106,000 , 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, 2017 , 2016 and 2015 , directors deferred 12,293 shares, 10,166 shares and 8,466 shares of common stock, respectively, with weighted-average grant date fair values of $101.34 , $97.99 and $78.62 , 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, 2017 , 2016 and 2015 . 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 2017 , 2016 or 2015 . As of December 31, 2017 , there were 145,598 shares outstanding with a fair value of $14.6 million . |
Legal Proceedings
Legal Proceedings | 12 Months Ended |
Dec. 31, 2017 | |
Legal Proceedings | |
Legal Matters and Contingencies [Text Block] | Land and Equipment Leases The Company has a ground lease expiring in 2074 related to one of its apartment communities acquired in the Merger. This lease contains stated rent increases that generally compensate for the impact of inflation. The Company also has office, equipment and other operating leases. Future minimum lease payments for non-cancelable land, equipment and other operating leases at December 31, 2017 , were as follows (in thousands): Minimum Lease Payments 2018 $ 882 2019 724 2020 708 2021 718 2022 733 Thereafter 62,788 Total $ 66,553 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. In December 2017, a non-profit civil rights organization filed suit against MAA and the Operating Partnership in the United States District Court for the District of Columbia. The suit alleges the Company maintained and enforced a criminal records screening policy at certain of its apartment communities, all of which are apartments acquired from Post Properties in the Merger, which violates the FHA. The suit seeks injunctive relief, actual and punitive damages and attorneys' fees and costs. The Company is subject to various other legal proceedings and claims that arise in the ordinary course of our 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 does not currently believe such matters, either individually or in the aggregate, will have a material adverse effect on the Company's financial position, results of operations or cash flows. As of December 31, 2017 and December 31, 2016 , the Company's accrual for loss contingencies, including the legal proceedings referenced above, was $32.1 million and $42.1 million in the aggregate, respectively. The loss contingencies are presented in "Accrued expenses and other liabilities" in the accompanying Consolidated Balance Sheets. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS The Company holds investments in unconsolidated affiliates accounted for under the equity method of accounting. All significant intercompany transactions were eliminated in the accompanying consolidated financial statements. The 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 MAA, its general partner, of $19,000 at each of the years ended December 31, 2017 , and 2016 . The Partnership Agreement does not require the due to/due from balance to be settled in cash until liquidation of the Operating Partnership, and therefore, there is no regular settlement schedule for such amounts. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2017 | |
Notes To Financial Statements [Abstract] | |
SEGMENT INFORMATION | SEGMENT INFORMATION As of December 31, 2017 , the Company owned or had an ownership interest in 302 multifamily apartment communities in 17 different states and the District of Columbia from which it derived all significant sources of earnings and operating cash flows. Management evaluates performance and determines resource allocations of each of the 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 the apartment communities generally has similar economic characteristics, facilities, services, and tenants. The following reflects the three reportable operating segments for the Company: • 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 the Company has owned and has 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 the Company has owned and has been stabilized for at least a full 12 months. • Non-Same Store 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. On the first day of each calendar year, the Company determines the composition of its same store operating segments for that year as well as adjust the previous year, which allows the Company to evaluate full period-over-period operating comparisons. Properties in development or lease-up are added to the same store portfolio on the first day of the calendar year after it has 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 the same store portfolio. The Company utilizes 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. Management believes NOI is a helpful tool in evaluating the operating performance of the segments because it measures the core operations of property performance by excluding corporate level expenses and other items not related to property operating performance. All properties acquired as a result of the Merger have been placed in the Non-Same Store and Other operating segment, as the properties were recent acquisitions and had not been owned and stabilized for at least 12 months as of the first day of the applicable calendar year. Revenues and NOI for each reportable segment for the years ended December 31, 2017 , 2016 and 2015 were as follows (in thousands): 2017 2016 2015 (1) Revenues: Large Market Same Store $ 672,131 $ 652,560 $ 612,934 Secondary Market Same Store 349,007 340,161 327,700 Non-Same Store and Other 507,849 132,627 102,145 Total rental and other property revenues $ 1,528,987 $ 1,125,348 $ 1,042,779 NOI: Large Market Same Store $ 422,075 $ 407,294 $ 377,025 Secondary Market Same Store 218,673 213,273 204,382 Non-Same Store and Other 311,508 81,425 60,727 Total NOI 952,256 701,992 642,134 Depreciation and amortization (493,708 ) (322,958 ) (294,520 ) Property management expenses (43,588 ) (34,093 ) (30,990 ) General and administrative expenses (40,194 ) (29,040 ) (25,716 ) Merger and integration expenses (19,990 ) (40,823 ) — Interest expense (154,751 ) (129,947 ) (122,344 ) Gain on sale of depreciable real estate assets 127,386 80,397 189,958 Income tax expense (2,619 ) (1,699 ) (1,673 ) Gain on sale of non-depreciable real estate assets 21 2,171 172 Other non-operating income (expense) 14,353 (1,839 ) (6,274 ) Gain (loss) from real estate joint ventures 1,370 241 (2 ) Net income attributable to noncontrolling interests (12,157 ) (12,180 ) (18,458 ) Dividends to MAA Series I preferred shareholders (3,688 ) (307 ) — Net income available for MAA common shareholders $ 324,691 $ 211,915 $ 332,287 (1) The 2015 column shows the segment break down based on the 2016 same store portfolios. A comparison using the 2017 same store portfolio would not be comparative due to the nature of the segment classifications. Assets for each reportable segment as of December 31, 2017 and 2016 were as follows (in thousands): December 31, 2017 December 31, 2016 Assets Large Market Same Store $ 4,003,859 $ 4,126,885 Secondary Market Same Store 1,718,237 1,768,183 Non-Same Store and Other 5,570,003 5,479,780 Corporate assets 199,820 229,643 Total assets $ 11,491,919 $ 11,604,491 |
Real Estate Acquisitions and Di
Real Estate Acquisitions and Dispositions | 12 Months Ended |
Dec. 31, 2017 | |
Real Estate Acquisitions and Dispositions [Abstract] | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | REAL ESTATE ACQUISITIONS AND DISPOSITIONS The following table reflects the Company's acquisition activity for the year ended December 31, 2017 : Community Market Units Date Acquired Charlotte at Midtown Nashville, TN 279 March 16, 2017 Acklen West End Nashville, TN 320 December 28, 2017 The following table reflects the Company's disposition activity for the year ended December 31, 2017 : Community Market Units/Acres Date Sold Lakewood Ranch - Outparcel Tampa, FL 12 acres April 7, 2017 Post Alexander - Outparcel Atlanta, GA 1 acre June 12, 2017 Paddock Club Lakeland Lakeland, FL 464 units July 13, 2017 Paddock Club Lakeland - Outparcel Lakeland, FL 9 acres July 13, 2017 Paddock Club Montgomery Montgomery, AL 208 units July 20, 2017 Northwood Place Fort Worth, TX 270 units July 20, 2017 Town Park Lot 12 Orlando, FL 1 acre August 7, 2017 Terraces at Fieldstone Atlanta, GA 316 units November 30, 2017 Terraces at Towne Lake Atlanta, GA 502 units November 30, 2017 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Financing On February 1, 2018, the Company retired a $38.5 million mortgage associated with Highlands of West Village. The mortgage was scheduled to mature in May 2018. |
Selected Quarterly Financial In
Selected Quarterly Financial Information | 12 Months Ended |
Dec. 31, 2017 | |
Selected Quarterly Financial Information [Abstract] | |
SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | SELECTED QUARTERLY FINANCIAL INFORMATION OF MAA (UNAUDITED) The following table reflects MAA's selected quarterly financial information for the year ended December 31, 2017 (dollars in thousands, except per share data): Year Ended December 31, 2017 First Second Third Fourth Rental and other property revenues $ 378,908 $ 382,791 $ 384,550 $ 382,738 Income before non-operating items 77,656 85,976 94,671 96,473 Net income 43,416 50,155 118,958 128,007 Net income available for MAA common shareholders 40,983 47,393 113,787 122,528 Per share: Earnings per common share - basic $ 0.36 $ 0.42 $ 1.00 $ 1.08 Earnings per common share - diluted 0.36 0.42 1.00 1.08 The following table reflects MAA's selected quarterly financial information for the year ended December 31, 2016 (dollars in thousands, except per share data): Year Ended December 31, 2016 First Second Third Fourth Rental and other property revenues $ 269,016 $ 272,236 $ 276,898 $ 307,198 Income before non-operating items 77,422 78,215 74,823 44,618 Net income 45,808 47,630 88,906 42,058 Net income available for MAA common shareholders 43,413 45,144 84,279 39,079 Per share: Earnings per common share - basic $ 0.58 $ 0.60 $ 1.12 $ 0.44 Earnings per common share - diluted 0.58 0.60 1.12 0.44 . SELECTED QUARTERLY FINANCIAL INFORMATION OF MAALP (UNAUDITED) The following table reflects MAALP's selected quarterly financial information for the year ended December 31, 2017 (dollars in thousands, except per unit data): Year Ended December 31, 2017 First Second Third Fourth Rental and other property revenues $ 378,908 $ 382,791 $ 384,550 $ 382,738 Income before non-operating items 77,656 85,976 94,671 96,473 Net income 43,416 50,155 118,958 128,007 Net income available for MAALP common unitholders 42,494 49,233 118,036 127,085 Per unit: Earnings per common unit - basic $ 0.36 $ 0.42 $ 1.00 $ 1.08 Earnings per common unit - diluted 0.36 0.42 1.00 1.08 The following table reflects MAALP's selected quarterly financial information for the year ended December 31, 2016 (dollars in thousands, except per unit data): Year Ended December 31, 2016 First Second Third Fourth Rental and other property revenues $ 269,016 $ 272,236 $ 276,898 $ 307,198 Income before non-operating items 77,422 78,215 74,823 44,618 Net income 45,808 47,630 88,906 42,058 Net income available for MAALP common unitholders 45,808 47,630 88,906 41,751 Per unit: Earnings per common unit - basic $ 0.61 $ 0.60 $ 1.12 $ 0.45 Earnings per common unit - diluted 0.61 0.60 1.12 0.45 |
Schedule III Real Estate and Ac
Schedule III Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 (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 $ — $ 1,254 $ 2,640 $ 30,096 $ 32,736 $ (6,688 ) $ 26,048 2009 1 - 40 Colonial Grand at Riverchase Trails Birmingham, AL — 3,761 22,079 — 3,261 3,761 25,340 29,101 (5,289 ) 23,812 2010 1 - 40 Colonial Village at Trussville Birmingham, AL — 3,402 31,813 — 2,284 3,402 34,097 37,499 (6,552 ) 30,947 1996/97 1 - 40 Eagle Ridge Birmingham, AL — 851 7,667 — 3,896 851 11,563 12,414 (7,362 ) 5,052 1986 1 - 40 Colonial Grand at Traditions Gulf Shores,AL — 3,211 25,162 — 2,106 3,211 27,268 30,479 (5,623 ) 24,856 2007 1 - 40 Colonial Grand at Edgewater Huntsville, AL — 4,943 38,673 — 4,291 4,943 42,964 47,907 (7,608 ) 40,299 1990 1 - 40 Colonial Promenade at Huntsville Huntsville, AL — 2,000 — — 2 2,000 2 2,002 (1 ) 2,001 2017 1 - 40 Paddock Club at Providence Huntsville, AL — 909 10,152 830 13,817 1,739 23,969 25,708 (13,490 ) 12,218 1993 1 - 40 Colonial Grand at Madison Madison, AL — 3,601 28,934 — 1,413 3,601 30,347 33,948 (5,973 ) 27,975 2000 1 - 40 Cypress Village Orange Beach, AL — 1,290 12,238 — 1,588 1,290 13,826 15,116 (2,472 ) 12,644 2008 1 - 40 Colonial Grand at Liberty Park Vestavia Hills, AL 16,404 3,922 30,977 — 4,564 3,922 35,541 39,463 (6,857 ) 32,606 2000 1 - 40 Edge at Lyon's Gate Phoenix, AZ — 7,901 27,182 — 2,355 7,901 29,537 37,438 (9,643 ) 27,795 2007 1 - 40 Residences at Fountainhead Phoenix, AZ — 12,212 56,705 — 797 12,212 57,502 69,714 (2,683 ) 67,031 2015 1 - 40 Sky View Ranch Gilbert, AZ — 2,668 14,577 — 2,179 2,668 16,756 19,424 (5,147 ) 14,277 2007 1 - 40 Talus Ranch Phoenix, AZ — 12,741 47,701 — 2,758 12,741 50,459 63,200 (19,329 ) 43,871 2005 1 - 40 Colonial Grand at Inverness Commons Mesa, AZ — 4,219 26,255 — 1,409 4,219 27,664 31,883 (5,232 ) 26,651 2002 1 - 40 Colonial Grand at Scottsdale Scottsdale, AZ — 3,612 20,273 — 1,934 3,612 22,207 25,819 (4,217 ) 21,602 1999 1 - 40 Colonial Grand at OldTown Scottsdale Scottsdale, AZ — 7,820 51,627 — 4,414 7,820 56,041 63,861 (10,256 ) 53,605 1994/95 1 - 40 SkySong Scottsdale, AZ — — 55,748 — 1,176 — 56,924 56,924 (3,827 ) 53,097 2014 1 - 40 Calais Forest Little Rock, AR — 1,026 9,244 — 7,741 1,026 16,985 18,011 (11,422 ) 6,589 1987 1 - 40 Napa Valley Little Rock, AR — 960 8,642 — 5,361 960 14,003 14,963 (9,166 ) 5,797 1984 1 - 40 Palisades at Chenal Valley Little Rock, AR — 2,560 25,234 — 3,395 2,560 28,629 31,189 (6,366 ) 24,823 2006 1 - 40 Ridge at Chenal Valley Little Rock, AR — 2,626 — — 27,537 2,626 27,537 30,163 (3,935 ) 26,228 2012 1 - 40 Westside Creek Little Rock, AR — 1,271 11,463 — 8,285 1,271 19,748 21,019 (12,205 ) 8,814 1984/86 1 - 40 Tiffany Oaks Altamonte Springs, FL — 1,024 9,219 — 5,389 1,024 14,608 15,632 (9,658 ) 5,974 1985 1 - 40 Indigo Point Brandon, FL — (1) 1,167 10,500 — 3,514 1,167 14,014 15,181 (8,515 ) 6,666 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, 2017 (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 — 6,192 2,896 32,303 35,199 (19,400 ) 15,799 1998 1 - 40 Colonial Grand at Lakewood Ranch Bradenton, FL — 2,980 40,230 — 3,072 2,980 43,302 46,282 (7,910 ) 38,372 1999 1 - 40 The Preserve at Coral Square Coral Springs, FL — 9,600 40,004 — 9,175 9,600 49,179 58,779 (22,555 ) 36,224 1996 1 - 40 Paddock Club Gainesville Gainesville, FL — 1,800 15,879 — 4,689 1,800 20,568 22,368 (9,467 ) 12,901 1999 1 - 40 The Retreat at Magnolia Park Gainesville, FL — 2,040 16,338 — 745 2,040 17,083 19,123 (3,920 ) 15,203 2009 1 - 40 Colonial Grand at Heathrow Heathrow, FL 20,310 4,101 35,684 — 2,667 4,101 38,351 42,452 (7,306 ) 35,146 1997 1 - 40 220 Riverside Jacksonville, FL — 2,500 38,416 — 2,753 2,500 41,169 43,669 (2,388 ) 41,281 2015 1 - 40 Atlantic Crossing Jacksonville, FL — 4,000 19,495 — 1,546 4,000 21,041 25,041 (5,022 ) 20,019 2008 1 - 40 Colonial Grand at Randall Lakes II Jacksonville, FL — 3,200 — — 36,696 3,200 36,696 39,896 (982 ) 38,914 2017 1 - 40 Cooper's Hawk Jacksonville, FL — 854 7,500 — 3,494 854 10,994 11,848 (7,952 ) 3,896 1987 1 - 40 Hunter's Ridge at Deerwood Jacksonville, FL — 1,533 13,835 — 5,369 1,533 19,204 20,737 (12,455 ) 8,282 1987 1 - 40 Lakeside Jacksonville, FL — 1,430 12,883 — 8,093 1,430 20,976 22,406 (14,894 ) 7,512 1985 1 - 40 Lighthouse at Fleming Island Jacksonville, FL — (1) 4,047 35,052 — 5,170 4,047 40,222 44,269 (19,570 ) 24,699 2003 1 - 40 Paddock Club Mandarin Jacksonville, FL — 1,411 14,967 — 2,924 1,411 17,891 19,302 (8,887 ) 10,415 1998 1 - 40 St. Augustine Jacksonville, FL — 2,857 6,475 — 19,684 2,857 26,159 29,016 (12,327 ) 16,689 1987 1 - 40 St. Augustine II Jacksonville, FL — — — — 2 — 2 2 (1 ) 1 2008 1 - 40 Tattersall at Tapestry Park Jacksonville, FL — 6,417 36,069 — 1,056 6,417 37,125 43,542 (8,354 ) 35,188 2009 1 - 40 Woodhollow Jacksonville, FL — 1,686 15,179 (8 ) 8,795 1,678 23,974 25,652 (16,277 ) 9,375 1986 1 - 40 Colonial Grand at Town Park Lake Mary, FL — 5,742 56,562 — 3,455 5,742 60,017 65,759 (11,755 ) 54,004 2005 1 - 40 Colonial Grand at Town Park Reserve Lake Mary, FL — 3,481 10,311 — 353 3,481 10,664 14,145 (2,132 ) 12,013 2004 1 - 40 Colonial Grand at Lake Mary Lake Mary, FL — 6,346 41,539 — 23,107 6,346 64,646 70,992 (9,528 ) 61,464 2012 1 - 40 Retreat at Lake Nona Orlando, FL — 7,880 41,175 — 3,708 7,880 44,883 52,763 (8,533 ) 44,230 2006 1 - 40 Colonial Grand at Heather Glen Orlando, FL — 4,662 56,988 — 4,428 4,662 61,416 66,078 (11,119 ) 54,959 2000 1 - 40 Colonial Grand at Randal Lakes Orlando, FL — 5,659 50,553 — 10,643 5,659 61,196 66,855 (6,052 ) 60,803 2013 1 - 40 Post Lake at Baldwin Park Orlando, FL — 18,101 144,200 — 496 18,101 144,696 162,797 (6,212 ) 156,585 2011 1 - 40 Post Lakeside Orlando, FL — 7,046 52,585 — 166 7,046 52,751 59,797 (2,097 ) 57,700 2013 1 - 40 Post Parkside Orlando, FL — 5,669 49,754 — 665 5,669 50,419 56,088 (2,187 ) 53,901 1999 1 - 40 Park Crest at Innisbrook Palm Harbor, FL 27,159 6,900 26,613 — 2,229 6,900 28,842 35,742 (9,123 ) 26,619 2000 1 - 40 The Club at Panama Beach Panama City, FL — 898 14,276 (5 ) 3,952 893 18,228 19,121 (9,868 ) 9,253 2000 1 - 40 Colonial Village at Twin Lakes Sanford, FL 23,246 3,091 47,793 — 1,777 3,091 49,570 52,661 (9,338 ) 43,323 2005 1 - 40 Paddock Club Tallahassee Tallahassee, FL — 530 4,805 950 14,458 1,480 19,263 20,743 (12,330 ) 8,413 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, 2017 (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 — 731 3,600 26,645 30,245 (3,219 ) 27,026 2003 1 - 40 Belmere Tampa, FL — 852 7,667 — 6,725 852 14,392 15,244 (9,850 ) 5,394 1984 1 - 40 Links at Carrollwood Tampa, FL — 817 7,355 110 5,168 927 12,523 13,450 (7,945 ) 5,505 1980 1 - 40 Post Bay at Rocky Point Tampa, FL — 4,541 28,381 — 366 4,541 28,747 33,288 (1,197 ) 32,091 1997 1 - 40 Post Harbour Place Tampa, FL — 16,296 116,193 — 2,031 16,296 118,224 134,520 (5,209 ) 129,311 1997 1 - 40 Post Hyde Park Tampa, FL 42,050 16,891 95,259 — 975 16,891 96,234 113,125 (4,263 ) 108,862 1994 1 - 40 Post Rocky Point Tampa, FL — 35,260 153,102 — 2,994 35,260 156,096 191,356 (6,618 ) 184,738 1994-1996 1 - 40 Post Soho Square Tampa, FL — 5,190 56,296 — 96 5,190 56,392 61,582 (2,224 ) 59,358 2012 1 - 40 Village Oaks Tampa, FL — 2,738 19,055 153 2,334 2,891 21,389 24,280 (6,969 ) 17,311 2005 1 - 40 Colonial Grand at Hampton Preserve Tampa, FL — 6,233 69,535 — 1,264 6,233 70,799 77,032 (12,363 ) 64,669 2012 1 - 40 Colonial Grand at Seven Oaks Wesley Chapel, FL — 3,051 42,768 — 1,879 3,051 44,647 47,698 (7,910 ) 39,788 2004 1 - 40 Colonial Grand at Windermere Windermere, FL — 2,711 36,710 — 1,023 2,711 37,733 40,444 (6,520 ) 33,924 2009 1 - 40 Allure at Brookwood Atlanta, GA — 11,168 52,758 — 4,313 11,168 57,071 68,239 (11,027 ) 57,212 2008 1 - 40 Allure in Buckhead Village Residential Atlanta, GA — 8,633 19,844 — 5,931 8,633 25,775 34,408 (5,890 ) 28,518 2002 1 - 40 The High Rise at Post Alexander Atlanta, GA — 8,435 92,294 — 157 8,435 92,451 100,886 (5,333 ) 95,553 2015 1 - 40 Post Alexander Atlanta, GA — 15,440 73,278 — 887 15,440 74,165 89,605 (2,495 ) 87,110 2006 1 - 40 Post Briarcliff Atlanta, GA 54,386 24,645 114,921 — 1,142 24,645 116,063 140,708 (4,774 ) 135,934 1996 1 - 40 Post Brookhaven Atlanta, GA — 29,048 106,463 — 1,519 29,048 107,982 137,030 (4,724 ) 132,306 1989-1992 1 - 40 Post Chastain Atlanta, GA — 30,223 82,964 — 578 30,223 83,542 113,765 (3,428 ) 110,337 1990 1 - 40 Post Crossing Atlanta, GA 24,418 15,799 48,054 — 812 15,799 48,866 64,665 (2,075 ) 62,590 1995 1 - 40 Post Gardens Atlanta, GA — 17,907 56,093 — 894 17,907 56,987 74,894 (2,525 ) 72,369 1996 1 - 40 Post Glen Atlanta, GA 25,370 13,878 51,079 — 889 13,878 51,968 65,846 (2,167 ) 63,679 1996 1 - 40 Post Midtown Atlanta, GA — 7,000 44,000 — 39,542 7,000 83,542 90,542 (1,008 ) 89,534 2017 1 - 40 Post Parkside Atlanta, GA — 11,025 34,277 — 282 11,025 34,559 45,584 (1,359 ) 44,225 1999 1 - 40 Post Peachtree Hills Atlanta, GA — 11,974 55,264 — 168 11,974 55,432 67,406 (2,252 ) 65,154 1992-1994/2009 1 - 40 Post Riverside Atlanta, GA — 23,765 89,369 — 1,785 23,765 91,154 114,919 (4,224 ) 110,695 1996 1 - 40 Post Spring Atlanta, GA — 18,596 57,819 — 974 18,596 58,793 77,389 (2,652 ) 74,737 1999 1 - 40 Post Stratford Atlanta, GA — — 30,051 — 1,071 — 31,122 31,122 (1,374 ) 29,748 1999 1 - 40 Sanctuary at Oglethorpe Atlanta, GA — 6,875 31,441 — 3,089 6,875 34,530 41,405 (11,742 ) 29,663 1994 1 - 40 Prescott Duluth, GA — (2) 3,840 24,011 — 3,801 3,840 27,812 31,652 (12,505 ) 19,147 2001 1 - 40 Colonial Grand at Berkeley Lake Duluth, GA — 1,960 15,707 — 1,690 1,960 17,397 19,357 (3,853 ) 15,504 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, 2017 (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 — 4,360 13,579 — 1,647 4,360 15,226 19,586 (4,196 ) 15,390 1992 1 - 40 Colonial Grand at River Plantation Duluth, GA — 2,059 19,158 — 1,789 2,059 20,947 23,006 (4,601 ) 18,405 1994 1 - 40 Colonial Grand at McDaniel Farm Duluth, GA — 3,985 32,206 — 3,419 3,985 35,625 39,610 (7,730 ) 31,880 1997 1 - 40 Colonial Grand at Pleasant Hill Duluth, GA — 6,753 32,202 — 3,538 6,753 35,740 42,493 (7,468 ) 35,025 1996 1 - 40 Colonial Grand at Mount Vernon Dunwoody, GA 15,430 6,861 23,748 — 2,898 6,861 26,646 33,507 (4,792 ) 28,715 1997 1 - 40 Lake Lanier Club I Gainesville, GA — 3,560 22,611 — 5,243 3,560 27,854 31,414 (12,146 ) 19,268 1998 1 - 40 Lake Lanier Club II Gainesville, GA — (2) 3,150 18,383 — 2,369 3,150 20,752 23,902 (9,008 ) 14,894 2001 1 - 40 Colonial Grand at Shiloh Kennesaw, GA 29,518 4,864 45,893 — 3,323 4,864 49,216 54,080 (9,697 ) 44,383 2002 1 - 40 Millstead Village LaGrange, GA — 3,100 29,240 — 793 3,100 30,033 33,133 (5,314 ) 27,819 1998 1 - 40 Colonial Grand at Barrett Creek Marietta, GA — 5,661 26,186 — 2,565 5,661 28,751 34,412 (6,365 ) 28,047 1999 1 - 40 Colonial Grand at Godley Station Pooler, GA 10,151 1,800 35,454 — 2,764 1,800 38,218 40,018 (6,821 ) 33,197 2001 1 - 40 Colonial Grand at Godley Lake Pooler, GA — 1,750 30,893 — 1,030 1,750 31,923 33,673 (6,025 ) 27,648 2008 1 - 40 Avala at Savannah Quarters Savannah, GA — 1,500 24,862 — 1,854 1,500 26,716 28,216 (5,954 ) 22,262 2009 1 - 40 Georgetown Grove Savannah, GA — 1,288 11,579 — 3,332 1,288 14,911 16,199 (9,397 ) 6,802 1997 1 - 40 Colonial Grand at Hammocks Savannah, GA — 2,441 36,863 — 3,623 2,441 40,486 42,927 (7,210 ) 35,717 1997 1 - 40 Colonial Village at Greentree Savannah, GA — 1,710 10,494 — 1,268 1,710 11,762 13,472 (2,729 ) 10,743 1984 1 - 40 Colonial Village at Huntington Savannah, GA — 2,521 8,223 — 905 2,521 9,128 11,649 (1,867 ) 9,782 1986 1 - 40 Colonial Village at Marsh Cove Savannah, GA — 5,231 8,555 — 902 5,231 9,457 14,688 (2,289 ) 12,399 1983 1 - 40 Oaks at Wilmington Island Savannah, GA — 2,910 25,315 (46 ) 4,169 2,864 29,484 32,348 (11,378 ) 20,970 1999 1 - 40 Highlands of West Village I Smyrna, GA 38,390 9,052 43,395 — 6,354 9,052 49,749 58,801 (5,779 ) 53,022 2006 1 - 40 Highlands of West Village II Smyrna, GA — 5,358 30,338 — 75 5,358 30,413 35,771 (3,263 ) 32,508 2012 1 - 40 Haven at Praire Trace Overland Park, KS — 3,500 40,614 — 1,037 3,500 41,651 45,151 (2,682 ) 42,469 2015 1 - 40 Grand Reserve at Pinnacle Lexington, KY — 2,024 31,525 — 5,178 2,024 36,703 38,727 (17,027 ) 21,700 2000 1 - 40 Lakepointe Lexington, KY — 411 3,699 — 2,523 411 6,222 6,633 (4,483 ) 2,150 1986 1 - 40 Mansion, The Lexington, KY — 694 6,242 — 3,619 694 9,861 10,555 (7,114 ) 3,441 1989 1 - 40 Village, The Lexington, KY — 900 8,097 — 4,625 900 12,722 13,622 (9,221 ) 4,401 1989 1 - 40 Stonemill Village Louisville, KY — 1,169 10,518 — 9,404 1,169 19,922 21,091 (13,816 ) 7,275 1985 1 - 40 Crosswinds Jackson, MS — 1,535 13,826 — 5,097 1,535 18,923 20,458 (12,940 ) 7,518 1989 1 - 40 Pear Orchard Jackson, MS — 1,351 12,168 — 8,521 1,351 20,689 22,040 (14,664 ) 7,376 1985 1 - 40 Reflection Pointe Jackson, MS — 710 8,770 138 8,575 848 17,345 18,193 (11,865 ) 6,328 1986 1 - 40 Lakeshore Landing Ridgeland, MS — 676 6,284 — 3,232 676 9,516 10,192 (4,628 ) 5,564 1974 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, 2017 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Market Station Kansas City, MO — 5,814 46,241 — 1,934 5,814 48,175 53,989 (8,671 ) 45,318 2010 1 - 40 Residences at Burlington Creek Kansas City, MO — 4,000 42,144 — 767 4,000 42,911 46,911 (3,348 ) 43,563 2013/14 1 - 40 The Denton Kansas City, MO — 750 8,795 — 339 750 9,134 9,884 (465 ) 9,419 2014 1 - 40 The Denton II Kansas City, MO — 770 — — 23,932 770 23,932 24,702 (112 ) 24,590 2017 1 - 40 Colonial Grand at Desert Vista North Las Vegas, NV — 4,091 29,826 — 1,276 4,091 31,102 35,193 (6,026 ) 29,167 2009 1 - 40 Colonial Grand at Palm Vista North Las Vegas, NV — 4,909 25,643 — 2,308 4,909 27,951 32,860 (5,614 ) 27,246 2007 1 - 40 Colonial Village at Beaver Creek Apex, NC — 7,491 34,863 — 1,496 7,491 36,359 43,850 (6,608 ) 37,242 2007 1 - 40 Hermitage at Beechtree Cary, NC — (1) 900 8,099 — 4,798 900 12,897 13,797 (8,071 ) 5,726 1988 1 - 40 Waterford Forest Cary, NC — (2) 4,000 20,250 — 3,518 4,000 23,768 27,768 (10,446 ) 17,322 1996 1 - 40 1225 South Church I Charlotte, NC — 9,612 22,342 — 28,236 9,612 50,578 60,190 (7,567 ) 52,623 2010 1 - 40 Colonial Grand at Ayrsley Charlotte, NC — 2,481 52,119 — 13,417 2,481 65,536 68,017 (10,937 ) 57,080 2008 1 - 40 Colonial Grand at Beverly Crest Charlotte, NC 16,462 3,161 24,004 — 2,515 3,161 26,519 29,680 (4,865 ) 24,815 1996 1 - 40 Colonial Grand at Legacy Park Charlotte, NC — 2,891 28,272 — 1,944 2,891 30,216 33,107 (5,735 ) 27,372 2001 1 - 40 Colonial Grand at Mallard Creek Charlotte, NC 14,520 4,591 27,713 — 1,407 4,591 29,120 33,711 (5,561 ) 28,150 2005 1 - 40 Colonial Grand at Mallard Lake Charlotte, NC 19,942 3,250 31,389 — 3,208 3,250 34,597 37,847 (6,630 ) 31,217 1998 1 - 40 Colonial Grand at University Center Charlotte, NC — 1,620 17,499 — 638 1,620 18,137 19,757 (3,229 ) 16,528 2005 1 - 40 Colonial Reserve at South End Charlotte, NC — 4,628 44,282 — 11,365 4,628 55,647 60,275 (5,287 ) 54,988 2013 1 - 40 Colonial Village at Chancellor Park Charlotte, NC — 5,311 28,016 — 3,594 5,311 31,610 36,921 (5,693 ) 31,228 1999 1 - 40 Colonial Village at South Tryon Charlotte, NC — 2,260 19,489 — 1,623 2,260 21,112 23,372 (3,961 ) 19,411 2002 1 - 40 Colonial Village at Timber Crest Charlotte, NC — 2,901 17,192 — 2,073 2,901 19,265 22,166 (3,350 ) 18,816 2000 1 - 40 Enclave Charlotte, NC — 1,461 18,984 — 935 1,461 19,919 21,380 (3,169 ) 18,211 2008 1 - 40 Post Ballantyne Charlotte, NC — 16,216 44,817 — 998 16,216 45,815 62,031 (1,879 ) 60,152 2004 1 - 40 Post Gateway Place Charlotte, NC — 17,528 57,444 — 1,487 17,528 58,931 76,459 (2,609 ) 73,850 2000 1 - 40 Post Park at Phillips Place Charlotte, NC — 20,869 65,517 — 1,524 20,869 67,041 87,910 (2,840 ) 85,070 1996 1 - 40 Post South End Charlotte, NC — 18,835 58,795 — 815 18,835 59,610 78,445 (2,298 ) 76,147 2009 1 - 40 Post Uptown Place Charlotte, NC — 10,888 30,078 — 779 10,888 30,857 41,745 (1,318 ) 40,427 2000 1 - 40 Colonial Grand at Cornelius Cornelius, NC — 4,571 29,151 — 1,128 4,571 30,279 34,850 (5,908 ) 28,942 2009 1 - 40 Colonial Grand at Patterson Place Durham, NC 13,343 2,590 27,126 — 2,318 2,590 29,444 32,034 (5,415 ) 26,619 1997 1 - 40 Colonial Village at Deerfield Durham, NC — 3,271 15,609 — 1,193 3,271 16,802 20,073 (3,766 ) 16,307 1985 1 - 40 Colonial Grand at Research Park Durham, NC — 4,201 37,682 — 1,951 4,201 39,633 43,834 (7,551 ) 36,283 2002 1 - 40 Colonial Grand at Huntersville Huntersville, NC — 4,251 31,948 — 1,931 4,251 33,879 38,130 (6,387 ) 31,743 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, 2017 (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 — 4,142 3,071 25,972 29,043 (5,473 ) 23,570 2008 1 - 40 Colonial Grand at Matthews Commons Matthews, NC — 3,690 28,536 — 1,917 3,690 30,453 34,143 (5,634 ) 28,509 2008 1 - 40 Colonial Grand at Arringdon Morrisville, NC 22,153 6,401 31,134 — 2,313 6,401 33,447 39,848 (6,286 ) 33,562 2003 1 - 40 Colonial Grand at Brier Creek Raleigh, NC 28,856 7,372 50,202 — 1,931 7,372 52,133 59,505 (9,311 ) 50,194 2010 1 - 40 Colonial Grand at Brier Falls Raleigh, NC — 6,572 48,910 — 1,428 6,572 50,338 56,910 (8,905 ) 48,005 2008 1 - 40 Colonial Grand at Crabtree Valley Raleigh, NC 12,219 2,241 18,434 — 1,381 2,241 19,815 22,056 (3,451 ) 18,605 1997 1 - 40 Hue Raleigh, NC — 3,690 29,910 — 2,324 3,690 32,234 35,924 (6,690 ) 29,234 2009 1 - 40 Colonial Grand at Trinity Commons Raleigh, NC — 5,232 45,138 — 2,447 5,232 47,585 52,817 (9,293 ) 43,524 2000/02 1 - 40 Post Parkside at Wade Raleigh, NC — 7,196 51,972 — 207 7,196 52,179 59,375 (2,136 ) 57,239 2011 1 - 40 Post Parkside at Wade II Raleigh, NC — 9,450 46,316 587 1,485 10,037 47,801 57,838 (2,927 ) 54,911 2017 1 - 40 Preserve at Brier Creek Raleigh, NC — 5,850 21,980 (19 ) 24,756 5,831 46,736 52,567 (16,187 ) 36,380 2004 1 - 40 Providence at Brier Creek Raleigh, NC — 4,695 29,007 — 1,684 4,695 30,691 35,386 (10,093 ) 25,293 2007 1 - 40 Tanglewood Anderson, SC — 427 3,853 — 3,119 427 6,972 7,399 (5,131 ) 2,268 1980 1 - 40 Colonial Grand at Cypress Cove Charleston, SC — 3,610 28,645 — 1,875 3,610 30,520 34,130 (5,807 ) 28,323 2001 1 - 40 Colonial Village at Hampton Pointe Charleston, SC — 3,971 22,790 — 4,148 3,971 26,938 30,909 (5,047 ) 25,862 1986 1 - 40 Colonial Grand at Quarterdeck Charleston, SC — 920 24,097 — 5,458 920 29,555 30,475 (5,278 ) 25,197 1987 1 - 40 Colonial Village at Westchase Charleston, SC — 4,571 20,091 — 2,714 4,571 22,805 27,376 (4,917 ) 22,459 1985 1 - 40 River's Walk Charleston, SC — 5,200 28,682 — 487 5,200 29,169 34,369 (3,074 ) 31,295 2013 1 - 40 River's Walk II Charleston, SC — 3,631 10,748 — 958 3,631 11,706 15,337 (409 ) 14,928 2016 1 - 40 1201 Midtown Charleston, SC — 11,929 57,885 — 470 11,929 58,355 70,284 (1,841 ) 68,443 2015 1 - 40 Fairways, The Columbia, SC — 910 8,207 — 3,396 910 11,603 12,513 (8,360 ) 4,153 1992 1 - 40 Paddock Club Columbia Columbia, SC — 1,840 16,560 — 4,623 1,840 21,183 23,023 (13,619 ) 9,404 1991 1 - 40 Colonial Village at Windsor Place Goose Creek, SC — 1,321 14,163 — 2,437 1,321 16,600 17,921 (3,543 ) 14,378 1985 1 - 40 Highland Ridge Greenville, SC — 482 4,337 — 2,720 482 7,057 7,539 (4,598 ) 2,941 1984 1 - 40 Howell Commons Greenville, SC — 1,304 11,740 — 3,554 1,304 15,294 16,598 (10,353 ) 6,245 1987 1 - 40 Paddock Club Greenville Greenville, SC — 1,200 10,800 — 2,003 1,200 12,803 14,003 (8,381 ) 5,622 1996 1 - 40 Park Haywood Greenville, SC — 325 2,925 35 4,513 360 7,438 7,798 (5,403 ) 2,395 1983 1 - 40 Spring Creek Greenville, SC — 597 5,374 (14 ) 3,034 583 8,408 8,991 (5,861 ) 3,130 1985 1 - 40 Innovation Apartment Homes Greenville, SC — 4,437 52,026 — 998 4,437 53,024 57,461 (2,272 ) 55,189 2015 1 - 40 Runaway Bay Mt. Pleasant, SC — 1,085 7,269 12 6,362 1,097 13,631 14,728 (8,793 ) 5,935 1988 1 - 40 Colonial Grand at Commerce Park North Charleston, SC — 2,780 33,966 — 1,596 2,780 35,562 38,342 (6,498 ) 31,844 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, 2017 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction 535 Brookwood Simpsonville, SC 12,317 1,216 18,666 — 1,392 1,216 20,058 21,274 (5,264 ) 16,010 2008 1 - 40 Park Place Spartanburg, SC — 723 6,504 — 3,114 723 9,618 10,341 (6,383 ) 3,958 1987 1 - 40 Farmington Village Summerville, SC — 2,800 26,295 — 2,058 2,800 28,353 31,153 (9,829 ) 21,324 2007 1 - 40 Colonial Village at Waters Edge Summerville, SC — 2,103 9,187 — 3,408 2,103 12,595 14,698 (3,026 ) 11,672 1985 1 - 40 Hamilton Pointe Chattanooga, TN — 1,131 10,632 — 4,637 1,131 15,269 16,400 (7,385 ) 9,015 1989 1 - 40 Hidden Creek Chattanooga, TN — 972 8,954 — 5,524 972 14,478 15,450 (5,866 ) 9,584 1987 1 - 40 Steeplechase Chattanooga, TN — 217 1,957 — 3,208 217 5,165 5,382 (3,559 ) 1,823 1986 1 - 40 Windridge Chattanooga, TN — 817 7,416 — 4,049 817 11,465 12,282 (7,558 ) 4,724 1984 1 - 40 Kirby Station Memphis, TN — 1,148 10,337 — 10,379 1,148 20,716 21,864 (13,511 ) 8,353 1978 1 - 40 Lincoln on the Green Memphis, TN — 1,498 20,483 — 15,626 1,498 36,109 37,607 (25,025 ) 12,582 1992 1 - 40 Park Estate Memphis, TN — 178 1,141 — 4,850 178 5,991 6,169 (4,701 ) 1,468 1974 1 - 40 Reserve at Dexter Lake Memphis, TN — 1,260 16,043 2,147 39,943 3,407 55,986 59,393 (25,518 ) 33,875 2000 1 - 40 Paddock Club Murfreesboro Murfreesboro, TN — 915 14,774 — 3,313 915 18,087 19,002 (9,080 ) 9,922 1999 1 - 40 Acklen West End Nashville, TN — 12,761 58,906 — 22 12,761 58,928 71,689 — 71,689 2015 1 - 40 Aventura at Indian Lake Village Nashville, TN — 4,950 28,053 — 1,436 4,950 29,489 34,439 (6,560 ) 27,879 2010 1 - 40 Avondale at Kennesaw Nashville, TN 16,974 3,456 22,443 — 2,314 3,456 24,757 28,213 (6,530 ) 21,683 2008 1 - 40 Brentwood Downs Nashville, TN — 1,193 10,739 (2 ) 6,436 1,191 17,175 18,366 (11,551 ) 6,815 1986 1 - 40 Charlotte at Midtown Nashville, TN — 7,898 54,480 — 485 7,898 54,965 62,863 (1,174 ) 61,689 2016 1 - 40 Colonial Grand at Bellevue Nashville, TN 20,500 8,622 34,229 — 2,437 8,622 36,666 45,288 (7,283 ) 38,005 1996 1 - 40 Colonial Grand at Bellevue (Phase II) Nashville, TN — 8,656 29,967 (2 ) 79 8,654 30,046 38,700 (2,049 ) 36,651 2015 1 - 40 Grand View Nashville Nashville, TN — 2,963 33,673 — 7,363 2,963 41,036 43,999 (18,536 ) 25,463 2001 1 - 40 Monthaven Park Nashville, TN — 2,736 28,902 — 5,528 2,736 34,430 37,166 (16,247 ) 20,919 2000 1 - 40 Park at Hermitage Nashville, TN — 1,524 14,800 — 8,876 1,524 23,676 25,200 (16,508 ) 8,692 1987 1 - 40 Venue at Cool Springs Nashville, TN — 6,670 — — 51,315 6,670 51,315 57,985 (7,208 ) 50,777 2012 1 - 40 Verandas at Sam Ridley Nashville, TN 20,891 3,350 28,308 — 1,835 3,350 30,143 33,493 (7,833 ) 25,660 2009 1 - 40 Balcones Woods Austin, TX — 1,598 14,398 — 8,967 1,598 23,365 24,963 (15,439 ) 9,524 1983 1 - 40 Colonial Grand at Canyon Creek Austin, TX 13,662 3,621 32,137 — 1,521 3,621 33,658 37,279 (6,430 ) 30,849 2008 1 - 40 Colonial Grand at Canyon Ranch Austin, TX — 3,778 20,201 — 1,860 3,778 22,061 25,839 (4,653 ) 21,186 2003 1 - 40 Colonial Grand at Double Creek Austin, TX — 3,131 29,375 — 628 3,131 30,003 33,134 (5,805 ) 27,329 2013 1 - 40 Colonial Grand at Onion Creek Austin, TX — 4,902 33,010 — 1,471 4,902 34,481 39,383 (6,685 ) 32,698 2009 1 - 40 Grand Reserve at Sunset Valley Austin, TX — 3,150 11,393 — 3,466 3,150 14,859 18,009 (6,730 ) 11,279 1996 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, 2017 (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 Quarry Oaks Austin, TX 30,417 4,621 34,461 — 5,455 4,621 39,916 44,537 (8,254 ) 36,283 1996 1 - 40 Colonial Grand at Wells Branch Austin, TX — 3,094 32,283 294 1,355 3,388 33,638 37,026 (6,078 ) 30,948 2008 1 - 40 Legacy at Western Oaks Austin, TX — 9,100 49,339 — (172 ) 9,100 49,167 58,267 (9,860 ) 48,407 2001 1 - 40 Post Barton Creek Austin, TX — 8,683 21,497 — 608 8,683 22,105 30,788 (1,043 ) 29,745 1998 1 - 40 Post Park Mesa Austin, TX — 4,653 19,828 — 316 4,653 20,144 24,797 (845 ) 23,952 1992 1 - 40 Post South Lamar Austin, TX — 11,542 41,293 — 380 11,542 41,673 53,215 (2,190 ) 51,025 2011 1 - 40 Post South Lamar II Austin, TX — 9,000 32,800 — 19,352 9,000 52,152 61,152 (632 ) 60,520 2017 1 - 40 Post West Austin Austin, TX — 7,805 48,843 — 772 7,805 49,615 57,420 (2,516 ) 54,904 2009 1 - 40 Silverado Austin, TX — 2,900 24,009 — 3,732 2,900 27,741 30,641 (11,160 ) 19,481 2003 1 - 40 Stassney Woods Austin, TX — 1,621 7,501 — 8,181 1,621 15,682 17,303 (9,736 ) 7,567 1985 1 - 40 Travis Station Austin, TX — 2,281 6,169 — 7,563 2,281 13,732 16,013 (8,652 ) 7,361 1987 1 - 40 Woods, The Austin, TX — 1,405 12,769 — 8,148 1,405 20,917 22,322 (9,518 ) 12,804 1977 1 - 40 Colonial Village at Shoal Creek Bedford, TX 18,662 4,982 27,377 — 2,916 4,982 30,293 35,275 (6,180 ) 29,095 1996 1 - 40 Colonial Village at Willow Creek Bedford, TX 22,424 3,109 33,488 — 6,321 3,109 39,809 42,918 (7,830 ) 35,088 1996 1 - 40 Colonial Grand at Hebron Carrollton, TX — 4,231 42,237 — 1,050 4,231 43,287 47,518 (7,470 ) 40,048 2011 1 - 40 Colonial Grand at Silverado Cedar Park, TX — 3,282 24,935 — 1,118 3,282 26,053 29,335 (4,926 ) 24,409 2005 1 - 40 Colonial Grand at Silverado Reserve Cedar Park, TX — 3,951 31,705 — 1,489 3,951 33,194 37,145 (6,140 ) 31,005 2005 1 - 40 Grand Cypress Cypress, TX — 3,881 24,267 — 1,115 3,881 25,382 29,263 (3,587 ) 25,676 2008 1 - 40 Courtyards at Campbell Dallas, TX — 988 8,893 — 3,664 988 12,557 13,545 (8,061 ) 5,484 1986 1 - 40 Deer Run Dallas, TX — 1,252 11,271 — 4,789 1,252 16,060 17,312 (10,211 ) 7,101 1985 1 - 40 Grand Courtyard Dallas, TX — 2,730 22,240 — 3,054 2,730 25,294 28,024 (10,396 ) 17,628 2000 1 - 40 Legends at Lowe's Farm Dallas, TX — 5,016 41,091 — 2,186 5,016 43,277 48,293 (9,655 ) 38,638 2008 1 - 40 Colonial Reserve at Medical District Dallas, TX — 4,050 33,779 — 1,831 4,050 35,610 39,660 (5,855 ) 33,805 2007 1 - 40 Post Abbey Dallas, TX — 2,711 4,369 — 61 2,711 4,430 7,141 (194 ) 6,947 1996 1 - 40 Post Addison Circle Dallas, TX — 12,308 189,419 — 2,234 12,308 191,653 203,961 (8,081 ) 195,880 1998-2000 1 - 40 Post Cole's Corner Dallas, TX — 13,030 14,383 — 607 13,030 14,990 28,020 (714 ) 27,306 1998 1 - 40 Post Eastside Dallas, TX — 7,134 58,095 — 271 7,134 58,366 65,500 (2,721 ) 62,779 2008 1 - 40 Post Gallery Dallas, TX — 4,391 7,910 — 351 4,391 8,261 12,652 (431 ) 12,221 1999 1 - 40 Post Heights Dallas, TX — 26,245 37,922 — 356 26,245 38,278 64,523 (1,753 ) 62,770 1998-1999/2009 1 - 40 Post Katy Trail Dallas, TX — 10,333 32,456 — 430 10,333 32,886 43,219 (1,280 ) 41,939 2010 1 - 40 Post Legacy Dallas, TX — 6,575 55,277 — 996 6,575 56,273 62,848 (2,316 ) 60,532 2000 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, 2017 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Post Meridian Dallas, TX — 8,780 13,654 — 104 8,780 13,758 22,538 (657 ) 21,881 1991 1 - 40 Post Sierra at Frisco Bridges Dallas, TX — 6,777 32,553 — 254 6,777 32,807 39,584 (1,692 ) 37,892 2009 1 - 40 Post Square Dallas, TX — 13,178 24,048 — 515 13,178 24,563 37,741 (1,005 ) 36,736 1996 1 - 40 Post Uptown Village Dallas, TX — 34,974 33,213 — 2,017 34,974 35,230 70,204 (1,543 ) 68,661 1995-2000 1 - 40 Post Vineyard Dallas, TX — 7,966 7,471 — 345 7,966 7,816 15,782 (332 ) 15,450 1996 1 - 40 Post Vintage Dallas, TX — 13,621 8,608 — 276 13,621 8,884 22,505 (414 ) 22,091 1993 1 - 40 Post Worthington Dallas, TX — 13,713 43,268 — 440 13,713 43,708 57,421 (1,841 ) 55,580 1993/2008 1 - 40 Watermark Dallas, TX — (2) 960 14,438 — 2,735 960 17,173 18,133 (7,909 ) 10,224 2002 1 - 40 Colonial Grand at Bear Creek Euless, TX 22,568 6,453 30,048 — 2,426 6,453 32,474 38,927 (6,868 ) 32,059 1998 1 - 40 Colonial Grand at Fairview Fairview, TX — 2,171 35,077 — 734 2,171 35,811 37,982 (6,128 ) 31,854 2012 1 - 40 La Valencia at Starwood Frisco, TX — 3,240 26,069 — 1,505 3,240 27,574 30,814 (7,080 ) 23,734 2009 1 - 40 Colonial Reserve at Frisco Bridges Frisco, TX — 1,968 34,018 — 1,159 1,968 35,177 37,145 (5,929 ) 31,216 2013 1 - 40 Colonial Village at Grapevine Grapevine, TX — 2,351 29,757 — 4,665 2,351 34,422 36,773 (6,590 ) 30,183 1985/1986 1 - 40 Greenwood Forest Houston, TX — 3,465 23,482 — 271 3,465 23,753 27,218 (3,996 ) 23,222 1994 1 - 40 Legacy Pines Houston, TX — (2) 2,157 19,066 (15 ) 3,625 2,142 22,691 24,833 (11,275 ) 13,558 1999 1 - 40 Park Place (Houston) Houston, TX — 2,061 15,830 — 3,126 2,061 18,956 21,017 (7,396 ) 13,621 1996 1 - 40 Post Midtown Square Houston, TX — 19,038 89,570 — 706 19,038 90,276 109,314 (4,086 ) 105,228 1999/2013 1 - 40 Post 510 Houston, TX — 7,227 33,366 — 182 7,227 33,548 40,775 (1,632 ) 39,143 2014 1 - 40 Post Afton Oaks Houston, TX — 11,503 65,469 — 3,371 11,503 68,840 80,343 (3,332 ) 77,011 2017 1 - 40 Ranchstone Houston, TX — 1,480 14,807 — 2,437 1,480 17,244 18,724 (6,546 ) 12,178 1996 1 - 40 Reserve at Woodwind Lakes Houston, TX — 1,968 19,928 — 3,545 1,968 23,473 25,441 (9,338 ) 16,103 1999 1 - 40 Retreat at Vintage Park Houston, TX — 8,211 40,352 — 704 8,211 41,056 49,267 (3,295 ) 45,972 2014 1 - 40 Yale at 6th Houston, TX — 13,107 62,764 — 774 13,107 63,538 76,645 (2,447 ) 74,198 2015 1 - 40 Cascade at Fall Creek Humble, TX — 5,985 40,011 — 2,249 5,985 42,260 48,245 (15,069 ) 33,176 2007 1 - 40 Bella Casita Irving, TX — (2) 2,521 26,432 — 2,228 2,521 28,660 31,181 (7,073 ) 24,108 2007 1 - 40 Remington Hills Irving, TX — 4,390 21,822 — 10,259 4,390 32,081 36,471 (5,714 ) 30,757 1984 1 - 40 Colonial Reserve at Las Colinas Irving, TX — 3,902 40,691 — 1,389 3,902 42,080 45,982 (7,052 ) 38,930 2006 1 - 40 Colonial Grand at Valley Ranch Irving, TX 23,246 5,072 37,397 — 10,559 5,072 47,956 53,028 (9,148 ) 43,880 1997 1 - 40 Colonial Village at Oakbend Lewisville, TX — 5,598 28,616 — 3,400 5,598 32,016 37,614 (6,326 ) 31,288 1997 1 - 40 Times Square at Craig Ranch McKinney, TX — 1,130 28,058 — 3,946 1,130 32,004 33,134 (8,610 ) 24,524 2009 1 - 40 Venue at Stonebridge Ranch McKinney, TX — 4,034 19,528 — 892 4,034 20,420 24,454 (2,929 ) 21,525 2000 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, 2017 (3) Property Location Encumbrances Land Buildings and Fixtures Land Buildings and Fixtures Land Buildings and Fixtures Total Accumulated Depreciation Net Date of Construction Cityscape at Market Center Plano, TX — 8,626 60,407 — 912 8,626 61,319 69,945 (5,746 ) 64,199 2013 1 - 40 Cityscape at Market Center II Plano, TX — 8,268 50,298 — 71 |
Activity for Real Estate Invest
Activity for Real Estate Investments and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 2016 2015 Real estate investments: Balance at beginning of year $ 12,972,170 $ 8,215,768 $ 8,069,395 Acquisitions (1) 127,710 4,961,140 316,151 Less: FMV of leases included in acquisitions (1,488 ) (51,588 ) (4,438 ) Improvement and development 322,829 202,614 165,000 Assets held for sale (5,321 ) — — Disposition of real estate assets (2) (123,861 ) (355,764 ) (330,340 ) Balance at end of year $ 13,292,039 $ 12,972,170 $ 8,215,768 Accumulated depreciation: Balance at beginning of year $ 1,674,801 $ 1,499,213 $ 1,373,678 Depreciation 463,590 314,076 289,177 Assets held for sale — — — Disposition of real estate assets (2) (63,320 ) (138,488 ) (163,642 ) Balance at end of year $ 2,075,071 $ 1,674,801 $ 1,499,213 (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 S28
Organization and Summary of Significant Accounting Policies Organization and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
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 the Company's 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, including the Operating Partnership. 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, 92.5% to 100% of all consolidated subsidiaries. In management's 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. The Company invests in entities which may qualify as variable interest entities, or VIEs, and MAALP is considered a 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. MAALP is classified as a VIE, since the limited partners lack substantive kick-out rights and substantive participating rights. The Company consolidates all VIEs for which it is the primary beneficiary and uses the equity method to account for investments that qualify as VIEs but for which it is not the primary beneficiary. In determining whether the Company is the primary beneficiary of a VIE, management considers both 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. The Company uses the equity method of accounting for its investments in entities for which the Company exercises significant influence, but does not have the ability to exercise control. The factors considered in determining whether the Company has the ability to exercise control include ownership of voting interests and participatory rights of investors (see "Investment in Unconsolidated Affiliates" below). |
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 Gain Recognition The Company primarily leases multifamily residential apartments under operating leases generally with terms of one year or less, which are recorded as operating leases. Rental lease revenues are recognized in accordance with Accounting Standards Codification, or ASC, 840, Leases , using a method that represents a straight-line basis over the term of the lease. Rental income represents gross market rent less adjustments for concessions, vacancy loss and bad debt. Other non-lease revenues are recognized in accordance with ASC, 605, Revenue Recognition , when such sources of revenue are earned, and the amounts are fixed and determinable. The Company records 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, the Company removes the assets and liabilities from its Consolidated Balance Sheets and recognizes the gain or loss in the period the transaction closes. |
Rental Costs | Rental Costs Costs associated with rental activities are expensed as incurred and include advertising expenses, which were approximately $18.8 million , $13.0 million , and $13.5 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. |
Real Estate Assets and Depreciation and Amortization | Real Estate Assets and Depreciation and Amortization Real estate assets are carried at depreciated cost and consist of land, buildings and improvements and other and development and capital improvements in progress (see "Development Costs" below). Repairs and maintenance costs are expensed as incurred, while significant improvements, renovations, and recurring capital replacements are capitalized and depreciated over their estimated useful lives. 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, the Company also capitalizes 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 |
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 or floors within a development, amounts representing the completed portion of total estimated development costs for the project are transferred to "Land" and "Buildings and improvements and other" 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 capitalized costs (including capitalized interest, salaries and real estate taxes) during the years ended December 31, 2017 , 2016 and 2015 was approximately $11.0 million , $2.7 million and $2.3 million , respectively. Certain costs associated with the lease-up of development projects, including cost of model units, 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 The Company adopted ASU 2017-01, Clarifying the Definition of a Business (Topic 805) , effective January 1, 2017. Subsequent to the adoption of ASU 2017-01, most acquisitions of operating properties qualify as asset acquisitions rather than business combinations. Accordingly, the cost of the real estate acquired is allocated to the acquired tangible assets, consisting of land, buildings and improvements and other, and identified intangible assets, consisting of the value of in-place leases and other contracts, on a relative fair value basis. The purchase price of an acquired property is allocated based on the relative fair value of the individual components as a proportion of the total assets acquired. The Company allocates the cost of the tangible assets of an acquired property 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 cost 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 approximate at-market rates since the residential lease terms generally do not extend beyond one year. For residential leases, the fair value of the in-place leases and resident relationships is amortized over 6 months, which represents the estimated remaining term of the tenant 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 $11.2 million and $42.4 million as of December 31, 2017 , and 2016 , respectively. Accumulated amortization for these leases totaled $4.1 million and $7.3 million as of December 31, 2017 and 2016 , respectively. The amortization of these intangibles recorded as "Depreciation and amortization expense" was $29.4 million , $8.7 million , and $5.0 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. The estimated aggregate future amortization expense of in-place leases is approximately $2.8 million , $1.6 million , $0.8 million , $0.5 million , and $0.3 million for the years ended December 31, 2018, 2019, 2020, 2021, and 2022, respectively. As a result of the adoption of ASU 2017-01, the Company believes most acquisitions of operating properties will qualify as asset acquisitions and associated transaction costs will be capitalized. Acquisition costs include appraisal fees, title fees, broker fees, and other legal costs to acquire the property. |
Impairment of Long-lived Assets, including Goodwill | Impairment of Long-lived Assets The Company accounts for long-lived assets in accordance with the provisions of accounting standards for the impairment or disposal of long-lived assets. Management periodically evaluates long-lived assets, including investments in real estate, 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 in the Consolidated Balance Sheets 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 Consolidated Balance Sheets. |
Loss Contingencies | Loss Contingencies The outcomes of claims, disputes and legal proceedings are subject to significant uncertainty. The Company records an accrual for loss contingencies when a loss is probable and the amount of the loss can be reasonably estimated. Management reviews these accruals quarterly and makes revisions based on changes in facts and circumstances. When a loss contingency is not both probable and reasonably estimable, management does 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 management discloses a reasonable estimate of the possible loss, or range of loss, if such reasonable estimate can be made. If the Company 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 considered 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, management's experience in similar matters, the facts available to management at the time of assessment, and how the Company intends to respond, or has responded, to the proceeding or claim. Management's assessment of these factors may change over time as individual proceedings or claims progress. For matters where management is not currently able to reasonably estimate a range of reasonably possible loss, the factors that have contributed to this determination may 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 management believes a reasonable estimate of loss, or range of loss, can be made. The Company believes 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 Affiliates Immediately prior to the effective date of the Merger, Post Properties was an investor, together with other institutional investors, in a limited liability company, or the Apartment LLC, that indirectly owned one apartment community, Post Massachusetts Avenue, located in Washington, D.C. Post Properties owned a 35.0% equity interest in the unconsolidated joint venture, which was retained by MAA immediately following the close of the Merger and as of December 31, 2017 . The Company provides property and asset management services to the Apartment LLC for which it earns fees. The joint venture was determined to be a VIE, but the Company is not designated as a primary beneficiary. As a result, the Company accounts for its investment in the Apartment LLC using the equity method of accounting as the Company is able to exert significant influence over the joint venture but does not have a controlling interest. At December 31, 2017 , the Company's investment in the Apartment LLC totaled $45.0 million . During September 2017, a subsidiary of the Operating Partnership entered into a limited partnership together with a general partner and other limited partners to form Real Estate Technology Ventures, L.P. The Operating Partnership indirectly owns 31.0% of the limited partnership. The limited partnership was determined to be a VIE, but the Company is not designated as a primary beneficiary. As a result, the Company accounts for its investment in the limited partnership using the equity method of accounting as the investment is considered more than minor. At December 31, 2017 , the Company's investment in the limited partnership totaled $1.5 million . The Company is committed to make additional capital contributions totaling $13.5 million if and when called by the general partner of the limited partnership prior to September 2022. |
Cash and Cash Equivalents | Cash and Cash Equivalents Investments in money market accounts and certificates of deposit with original maturities of three months or less are considered 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 Statements of Cash Flows. |
Other Assets | Other Assets Other assets consist primarily of receivables and deposits from residents, the value of derivative contracts, deferred rental concessions, deferred financing costs relating to lines of credit, and other prepaid expenses. Also included in other assets are the fair market value of in-place leases and resident relationships, net of accumulated amortization |
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, accounts payable, fair market value of interest rate swaps (see Note 7), security deposits not related to restricted cash, other accrued expenses, and unearned income. Significant accruals include accrued dividends payable of $108.7 million and $102.4 million at December 31, 2017 and 2016 , respectively; accrued real estate taxes of $99.6 million and $97.6 million at December 31, 2017 and 2016 , respectively; unearned income of $40.8 million and $39.4 million at December 31, 2017 and 2016 , respectively; accrued loss contingencies of $32.1 million and $42.1 million at December 31, 2017 and 2016 , respectively; security deposits of $19.1 million and $18.8 million at December 31, 2017 and 2016 , respectively; and accrued interest payable of $18.1 million and $19.1 million at December 31, 2017 and 2016 , respectively. |
Self Insurance | Self-Insurance The Company is self-insured for workers' compensation claims up to $500,000 and for general liability claims up to $100,000 . The Company accrues 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 Measurements The Company applies the guidance in ASC Topic 820, Fair Value Measurements and Disclosures , to the valuation of real estate assets recorded at fair value, if any; to its impairment valuation analysis of real estate assets; to its disclosure of the fair value of financial instruments, principally indebtedness; and to its derivative financial instruments. Fair value disclosures required under ASC Topic 820 are summarized in Note 7 utilizing the following hierarchy: Level 1 - Quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. Level 2 - Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. Level 3 - Unobservable inputs for the assets or liability. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material effect on the Company's consolidated financial statements: Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2014-09, Revenue from Contracts with Customers The 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. The ASU is effective for annual reporting periods beginning after December 15, 2017 Early adoption is permitted. The amendments may be applied using the full retrospective transition method or by using the modified retrospective transition method with a cumulative effect recognized as of the date of initial application. The Company adopted ASU 2014-09 effective January 1, 2018, using the modified retrospective approach. The majority of the Company's revenue is derived from real estate lease contracts, which falls outside the scope of the ASU. The Company has completed its analysis of non-lease related revenues. The adoption of the ASU does not have a material impact on the Company's consolidated financial statements or to the Company's internal accounting policies. The guidance does require additional disclosures regarding the nature and timing of the Company's revenue transactions upon adoption. ASU 2016-02, Leases The 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. The 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. Management is currently evaluating the impact the standard will have on the consolidated financial statements and related disclosures upon adoption. The Company plans to adopt the ASU effective January 1, 2019. ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) The 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. The 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. The Company adopted ASU 2016-15 as of January 1, 2018. Management has determined three of the eight transactions in the update are relevant to MAA and its cash flows, including: 1) debt prepayment or debt extinguishment costs, 2) proceeds from the settlement of insurance claims and 3) distributions received from equity method investees. Management performed an analysis and determined only the change in classification of debt prepayment or debt extinguishment costs, which is currently reported in operating activities, will have a significant impact on the consolidated statements of cash flows. Upon adoption in the first quarter of 2018, $1.7 million of cash outflows for debt prepayment or extinguishment costs currently reported in net cash provided by operating activities for the year ended December 31, 2017, will be re-classified to and reported in net cash used in financing activities. ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (A Consensus of the FASB Emerging Issues Task Force) The ASU requires restricted cash to be presented with cash and cash equivalents when reconciling the beginning and ending amounts in the consolidated statements of cash flows. The 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. The Company adopted ASU 2016-18 as of January 1, 2018. The Company currently reports the change in restricted cash within the operating and investing activities in the consolidated statements of cash flows. Upon adoption in the first quarter of 2018, cash and cash equivalents reported in the consolidated statements of cash flows for the year ended December 31, 2017 will increase by approximately $78.1 million to reflect the restricted cash balances. Additionally, net cash used in investing activities will decrease by $10.6 million for the year ended December 31, 2017. ASU 2017-12, Derivatives and Hedging (Topic 815) The ASU clarifies hedge accounting requirements, improves disclosure of hedging arrangements, and better aligns risk management activities and financial reporting for hedging relationships. The ASU is effective for interim and annual periods beginning after December 15, 2018, and early adoption is permitted. The standard should be adopted using a modified retrospective approach. This adoption method will require the Company to recognize the cumulative effect of initially applying ASU 2017-12 as an adjustment to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings. The Company elected to early adopt the ASU as of January 1, 2018. Management has completed its assessment of the impact the standard has on the Company's consolidated financial statements and related disclosures. Adoption of the ASU does not have a material impact on the consolidated financial statements or the Company's internal accounting policies. |
Derivatives, Policy [Policy Text Block] | Derivative Financial Instruments The Company utilizes 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. Additionally, the 867,846 shares of MAA's Series I preferred stock issued as consideration in the Merger are redeemable, at the Company's option, beginning on October 1, 2026, at the redemption price of $50 per share (see Note 9). The 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 the redemption feature from the host instrument, the perpetual preferred shares. The redemption feature embedded in the MAA Series I preferred stock is reported as a derivative asset in "Other assets" in the accompanying Consolidated Balance Sheets at its fair value and will be adjusted to its fair value at each reporting date, with a corresponding adjustment to "Other non-operating income (expense)". |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Purchase Price Allocation Schedule | December 1, 2016 Land $ 874,616 Buildings and improvements and other 3,479,483 Development and capital improvements in progress 183,881 Undeveloped land 24,200 Investment in real estate joint venture 44,435 Cash and cash equivalents 34,292 Restricted cash 3,608 Other assets 94,899 Total assets acquired 4,739,414 Notes payable (595,609) Accrued expenses and other liabilities (132,906) Total liabilities assumed, including debt (728,515 ) Noncontrolling interests - consolidated real estate entity (2,306 ) Total purchase price $ 4,008,593 |
Earnings Per Common Share of 30
Earnings Per Common Share of MAA (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 common shares outstanding during the period. All outstanding unvested restricted share awards contain rights to non-forfeitable dividends and participate in undistributed earnings with 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 diluted earnings per share being the more dilutive of the treasury stock or two-class methods. OP Units are included in dilutive earnings per share calculations when the units are dilutive to earnings per share. For the years ended December 31, 2017 , 2016 , and 2015 , MAA's basic earnings per share is computed using the two-class method, as the two-class method is the more dilutive calculation, and is presented below (dollars and shares in thousands, except per share amounts): 2017 2016 2015 Common Shares Outstanding Weighted average common shares - basic 113,407 78,502 75,176 Effect of dilutive securities 280 298 — (1) Weighted average common shares - diluted 113,687 78,800 75,176 Calculation of Earnings per Common Share - basic Net income $ 340,536 $ 224,402 $ 350,745 Net income attributable to noncontrolling interests (12,157 ) (12,180 ) (18,458 ) Unvested restricted stock (allocation of earnings) (535 ) (572 ) (772 ) Preferred dividends (3,688 ) (307 ) — Net income available for common shareholders, adjusted $ 324,156 $ 211,343 $ 331,515 Weighted average common shares - basic 113,407 78,502 75,176 Earnings per common share - basic $ 2.86 $ 2.69 $ 4.41 Calculation of Earnings per Common Share - diluted Net income $ 340,536 $ 224,402 $ 350,745 Net income attributable to noncontrolling interests (12,157 ) (2) (12,180 ) (2) (18,458 ) (2) Unvested restricted stock (allocation of earnings) — — (772 ) (1) Preferred dividends (3,688 ) (307 ) — Net income available for common shareholders, adjusted $ 324,691 $ 211,915 $ 331,515 Weighted average common shares - diluted 113,687 78,800 75,176 Earnings per common share - diluted $ 2.86 $ 2.69 $ 4.41 (1) For the year ended December 31, 2015, 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. (2) For the years ended December 31, 2017 , 2016 , and 2015 , 4.2 million OP units and their related income are not included in the diluted earnings per share calculations as they are not dilutive. |
Earnings Per OP Unit of MAALP (
Earnings Per OP Unit of MAALP (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 , 2016 , and 2015 is presented below (dollars and units in thousands, except per unit amounts): 2017 2016 2015 Common Units Outstanding Weighted average common units - basic 117,617 82,661 79,361 Effect of dilutive securities 280 298 — (1) Weighted average common units - diluted 117,897 82,959 79,361 Calculation of Earnings per Common Unit - basic Net income $ 340,536 $ 224,402 $ 350,745 Unvested restricted stock (allocation of earnings) (535 ) (574 ) (772 ) Preferred unit distributions (3,688 ) (307 ) — Net income available for common unitholders, adjusted $ 336,313 $ 223,521 $ 349,973 Weighted average common units - basic 117,617 82,661 79,361 Earnings per common unit - basic: $ 2.86 $ 2.70 $ 4.41 Calculation of Earnings per Common Unit - diluted Net income $ 340,536 $ 224,402 $ 350,745 Unvested restricted stock (allocation of earnings) — — (772 ) (1) Preferred unit distributions (3,688 ) (307 ) — Net income available for common unitholders, adjusted $ 336,848 $ 224,095 $ 349,973 Weighted average common units - diluted 117,897 82,959 79,361 Earnings per common unit - diluted: $ 2.86 $ 2.70 $ 4.41 (1) For the year ended December 31, 2015, 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, 2017 | |
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, 2017 , 2016 and 2015 : 2017 2016 2015 Risk free rate 0.65% - 1.57% 0.49% - 1.27% 0.10% - 1.05% Dividend yield 3.573% 3.634% 3.932% Volatility 20.43% - 21.85% 18.41% - 19.45% 15.41% - 16.04% Requisite 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, 2017 , and the changes for the year ended December 31, 2017 , is presented below: Nonvested Shares Shares Weighted Average Grant-Date Fair Value Nonvested at January 1, 2017 225,624 $ 71.61 Issued 106,113 87.09 Vested (147,687 ) 70.90 Forfeited (3,358 ) 84.97 Nonvested at December 31, 2017 180,692 $ 81.13 |
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 Risk free rate 0.64% - 2.63% Dividend yield 3.81% Volatility 21.02% - 21.57% Expected term 1.11 - 2.11 years |
Share-based Compensation, Stock Options, Activity [Table Text Block] | A summary of the status of the stock options as of December 31, 2017 and the changes for the year ended December 31, 2017 is presented below: Stock Options Options Weighted Average Exercise Price Outstanding at January 1, 2017 147,282 $ 76.16 Granted — — Exercised (21,006 ) 64.92 Expired (17,838 ) 109.05 Outstanding at December 31, 2017 108,438 $ 72.93 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Borrowings [Abstract] | |
Indebtedness | The following table summarizes the Company's outstanding debt as of December 31, 2017 (dollars in thousands): Borrowed Effective Contract Unsecured debt Variable rate revolving credit facility $ 410,000 2.5 % 4/15/2020 Fixed rate senior notes 2,292,000 4.0 % 11/13/2024 Term loans fixed with swaps 550,000 3.0 % 4/17/2018 Variable rate term loans 300,000 2.3 % 8/29/2020 Fair market value adjustments, debt issuance costs and discounts (26,235 ) Total unsecured debt $ 3,525,765 3.5 % 12/19/2022 Fixed rate secured debt Individual property mortgages $ 882,752 4.0 % 10/9/2019 Variable rate secured debt (1) Fannie Mae Facility 80,000 1.8 % 12/1/2018 Fair market value adjustments and debt issuance costs 13,540 Total secured debt $ 976,292 3.8 % 9/13/2019 Total outstanding debt $ 4,502,057 3.6 % 3/11/2022 (1) Includes capped balances |
Interest Rate Ranges, Maturity and Balance of Indebtedness | The following table summarizes interest rate ranges, maturity and balance of the Company's indebtedness, net of fair market value adjustments, debt issuance costs and discounts, as of December 31, 2017 and the balance of the Company's indebtedness, net of fair market value adjustments, debt issuance costs and discounts, as of December 31, 2016 (dollars in millions): December 31, 2017 Actual Interest Rates Current Average Interest Rate Maturity Balance Balance as of Fixed rate Unsecured 3.38 - 5.57% 3.97% 2018-2027 $ 2,292.0 $ 1,860.0 Secured 3.00 - 5.49% 3.97% 2018-2025 882.8 1,128.3 Interest rate swaps 2.45 - 3.55% 2.96% 2018 550.0 850.0 $ 3,724.8 $ 3,838.3 Variable rate (1) Unsecured 2.31 - 2.47% 2.41% 2020-2021 $ 710.0 $ 490.0 Secured 1.76% 1.76% 2018 55.0 110.0 Secured interest rate cap 1.76% 1.76% 2018 25.0 50.0 $ 790.0 $ 650.0 Fair market value adjustments, debt issuance costs and discounts (12.7 ) 11.4 $ 4,502.1 $ 4,499.7 (1) Amounts are adjusted to reflect interest rate swap and cap agreements in effect at December 31, 2017 , and 2016 , respectively, which results in 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 Company's outstanding borrowings at December 31, 2017 , as well as the amortization of the fair market value of debt assumed, debt discounts and issuance costs (in thousands): Year Amortization Maturities Total 2018 $ 19,016 $ 418,141 $ 437,157 2019 4,653 562,784 567,437 2020 1,967 712,456 714,423 2021 (1,462 ) 340,618 339,156 2022 (2,037 ) 667,000 664,963 Thereafter (3,468 ) 1,782,389 1,778,921 $ 18,669 $ 4,483,388 $ 4,502,057 |
Derivatives and Hedging Activ34
Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Derivative | |
Outstanding Interest Rate Derivatives | As of December 31, 2017 , the Company 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 cap 1 $25,000,000 Interest rate swaps 10 $550,000,000 |
Effect of Derivative Instruments on Consolidated Statement of Operations | The tables below present the effect of the Company's derivative financial instruments on the Consolidated Statements of Operations for the years ended December 31, 2017 , 2016 and 2015 , respectively (in thousands): Derivatives in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion) Amount of Gain (Loss) Reclassified from Accumulated OCI into Interest Expense (Effective Portion) Location of Gain (Loss) Recognized in Earnings on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Gain (Loss) Recognized in Interest Expense (Ineffective Portion and Amount Excluded from Effectiveness Testing) Year ended December 31, 2017 2016 2015 2017 2016 2015 2017 2016 2015 Interest rate contracts $ 319 $ (1,500 ) $ (8,306 ) Interest expense $ (730 ) $ (4,364 ) $ (7,064 ) Interest expense $ 197 $ (54 ) $ (100 ) Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative Amount of Gain (Loss) Recognized in Earnings on Derivative For the year ended December 31, 2017 2016 2015 Interest rate products Interest expense $ — $ — $ (3 ) Preferred stock embedded derivative Non-operating income 8,807 — — Total derivatives not designated as hedging instruments $ 8,807 $ — $ (3 ) |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income | The chart below reflects the change in the balance for the years ended December 31, 2017 , 2016 , and 2015 (in thousands): Changes in Accumulated Other Comprehensive Income (Loss) from Cash Flow Hedges by Component Affected Line Item in the Consolidated Statements of Operations 2017 2016 2015 Beginning balance $ 1,144 $ (1,589 ) $ (412 ) Other comprehensive income (loss) before reclassifications 319 (1,500 ) (8,306 ) Amounts reclassified from Accumulated other comprehensive income (interest rate contracts) Interest expense 730 4,364 7,064 Net current period other comprehensive (income) loss attributable to noncontrolling interests (36 ) (131 ) 65 Net current period other comprehensive income (loss) attributable to MAA 1,013 2,733 (1,177 ) Ending balance $ 2,157 $ 1,144 $ (1,589 ) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 , 2016 and 2015 , dividends per share held for the entire year were estimated to be taxable as follows: 2017 2016 2015 Amount Percentage Amount Percentage Amount Percentage Ordinary income $ 2.79 80.2 % $ 3.28 100 % $ 3.07 99.7 % Capital gain 0.31 8.9 % — — % — — % Un-recaptured Section 1250 gain 0.38 10.9 % — — % 0.01 0.3 % $ 3.48 100.00 % $ 3.28 100.00 % $ 3.08 100.00 % |
Summary of Valuation Allowance [Table Text Block] | For the years ended December 31, 2017 and 2016 , the components of the Company’s deferred income tax assets and liabilities were as follows (in thousands): December 31, 2017 December 31, 2016 Deferred tax assets Real estate asset basis differences $ — $ 13,387 Deferred expenses — 12,481 Net operating loss carryforward — 32,585 Accrued liabilities — 102 $ — $ 58,555 Deferred tax liabilities Real estate asset basis differences $ — $ (311 ) Net deferred tax assets, before valuation allowance $ — $ 58,244 Valuation allowance — (58,244 ) Net deferred tax assets $ — $ — |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the years ended December 31, 2017 , 2016 , and 2015 , 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 (in thousands): 2017 2016 2015 Tax expense at U.S. statutory rates on TRS income subject to tax $ 2,177 $ 3,185 $ 2,506 Effect of permanent differences and other — — (730 ) Decrease in valuation allowance (2,177 ) (3,185 ) (1,776 ) TRS income tax provision $ — $ — $ — |
Earnings from Discontinued Oper
Earnings from Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following table reflects the Company's disposition activity for the year ended December 31, 2017 : Community Market Units/Acres Date Sold Lakewood Ranch - Outparcel Tampa, FL 12 acres April 7, 2017 Post Alexander - Outparcel Atlanta, GA 1 acre June 12, 2017 Paddock Club Lakeland Lakeland, FL 464 units July 13, 2017 Paddock Club Lakeland - Outparcel Lakeland, FL 9 acres July 13, 2017 Paddock Club Montgomery Montgomery, AL 208 units July 20, 2017 Northwood Place Fort Worth, TX 270 units July 20, 2017 Town Park Lot 12 Orlando, FL 1 acre August 7, 2017 Terraces at Fieldstone Atlanta, GA 316 units November 30, 2017 Terraces at Towne Lake Atlanta, GA 502 units November 30, 2017 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 , 2016 and 2015 were as follows (in thousands): 2017 2016 2015 (1) Revenues: Large Market Same Store $ 672,131 $ 652,560 $ 612,934 Secondary Market Same Store 349,007 340,161 327,700 Non-Same Store and Other 507,849 132,627 102,145 Total rental and other property revenues $ 1,528,987 $ 1,125,348 $ 1,042,779 NOI: Large Market Same Store $ 422,075 $ 407,294 $ 377,025 Secondary Market Same Store 218,673 213,273 204,382 Non-Same Store and Other 311,508 81,425 60,727 Total NOI 952,256 701,992 642,134 Depreciation and amortization (493,708 ) (322,958 ) (294,520 ) Property management expenses (43,588 ) (34,093 ) (30,990 ) General and administrative expenses (40,194 ) (29,040 ) (25,716 ) Merger and integration expenses (19,990 ) (40,823 ) — Interest expense (154,751 ) (129,947 ) (122,344 ) Gain on sale of depreciable real estate assets 127,386 80,397 189,958 Income tax expense (2,619 ) (1,699 ) (1,673 ) Gain on sale of non-depreciable real estate assets 21 2,171 172 Other non-operating income (expense) 14,353 (1,839 ) (6,274 ) Gain (loss) from real estate joint ventures 1,370 241 (2 ) Net income attributable to noncontrolling interests (12,157 ) (12,180 ) (18,458 ) Dividends to MAA Series I preferred shareholders (3,688 ) (307 ) — Net income available for MAA common shareholders $ 324,691 $ 211,915 $ 332,287 (1) The 2015 column shows the segment break down based on the 2016 same store portfolios. A comparison using the 2017 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, 2017 and 2016 were as follows (in thousands): December 31, 2017 December 31, 2016 Assets Large Market Same Store $ 4,003,859 $ 4,126,885 Secondary Market Same Store 1,718,237 1,768,183 Non-Same Store and Other 5,570,003 5,479,780 Corporate assets 199,820 229,643 Total assets $ 11,491,919 $ 11,604,491 |
Real Estate Acquisitions and 38
Real Estate Acquisitions and Dispositions Real Estate Acquisitions and Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Real Estate Acquisitions and Dispositions [Abstract] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table reflects the Company's acquisition activity for the year ended December 31, 2017 : Community Market Units Date Acquired Charlotte at Midtown Nashville, TN 279 March 16, 2017 Acklen West End Nashville, TN 320 December 28, 2017 |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following table reflects the Company's disposition activity for the year ended December 31, 2017 : Community Market Units/Acres Date Sold Lakewood Ranch - Outparcel Tampa, FL 12 acres April 7, 2017 Post Alexander - Outparcel Atlanta, GA 1 acre June 12, 2017 Paddock Club Lakeland Lakeland, FL 464 units July 13, 2017 Paddock Club Lakeland - Outparcel Lakeland, FL 9 acres July 13, 2017 Paddock Club Montgomery Montgomery, AL 208 units July 20, 2017 Northwood Place Fort Worth, TX 270 units July 20, 2017 Town Park Lot 12 Orlando, FL 1 acre August 7, 2017 Terraces at Fieldstone Atlanta, GA 316 units November 30, 2017 Terraces at Towne Lake Atlanta, GA 502 units November 30, 2017 |
Selected Quarterly Financial 39
Selected Quarterly Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Limited Partner [Member] | |
Schedule of Quarterly Financial Information [Table Text Block] | Year Ended December 31, 2016 First Second Third Fourth Rental and other property revenues $ 269,016 $ 272,236 $ 276,898 $ 307,198 Income before non-operating items 77,422 78,215 74,823 44,618 Net income 45,808 47,630 88,906 42,058 Net income available for MAALP common unitholders 45,808 47,630 88,906 41,751 Per unit: Earnings per common unit - basic $ 0.61 $ 0.60 $ 1.12 $ 0.45 Earnings per common unit - diluted 0.61 0.60 1.12 0.45 Year Ended December 31, 2017 First Second Third Fourth Rental and other property revenues $ 378,908 $ 382,791 $ 384,550 $ 382,738 Income before non-operating items 77,656 85,976 94,671 96,473 Net income 43,416 50,155 118,958 128,007 Net income available for MAALP common unitholders 42,494 49,233 118,036 127,085 Per unit: Earnings per common unit - basic $ 0.36 $ 0.42 $ 1.00 $ 1.08 Earnings per common unit - diluted 0.36 0.42 1.00 1.08 |
Parent Company [Member] | |
Schedule of Quarterly Financial Information [Table Text Block] | The following table reflects MAA's selected quarterly financial information for the year ended December 31, 2016 (dollars in thousands, except per share data): Year Ended December 31, 2016 First Second Third Fourth Rental and other property revenues $ 269,016 $ 272,236 $ 276,898 $ 307,198 Income before non-operating items 77,422 78,215 74,823 44,618 Net income 45,808 47,630 88,906 42,058 Net income available for MAA common shareholders 43,413 45,144 84,279 39,079 Per share: Earnings per common share - basic $ 0.58 $ 0.60 $ 1.12 $ 0.44 Earnings per common share - diluted 0.58 0.60 1.12 0.44 The following table reflects MAA's selected quarterly financial information for the year ended December 31, 2017 (dollars in thousands, except per share data): Year Ended December 31, 2017 First Second Third Fourth Rental and other property revenues $ 378,908 $ 382,791 $ 384,550 $ 382,738 Income before non-operating items 77,656 85,976 94,671 96,473 Net income 43,416 50,155 118,958 128,007 Net income available for MAA common shareholders 40,983 47,393 113,787 122,528 Per share: Earnings per common share - basic $ 0.36 $ 0.42 $ 1.00 $ 1.08 Earnings per common share - diluted 0.36 0.42 1.00 1.08 |
Organization and Summary of S40
Organization and Summary of Significant Accounting Policies (Textual) (Details) $ / shares in Units, ft² in Thousands | 12 Months Ended | |||||||||
Dec. 31, 2017USD ($)$ / shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017shares | Dec. 31, 2017 | Dec. 31, 2017Property | Dec. 31, 2017Communities | Dec. 31, 2017ft² | Dec. 01, 2016shares | |
Real Estate Properties | ||||||||||
General partners' capital account, units outstanding | shares | 113,518,212 | 113,643,166 | ||||||||
Limited Liability (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 96.40% | |||||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 96.40% | |||||||||
Number of Real Estate Properties | 302 | 301 | ||||||||
Advertising expenses | $ 18,800,000 | $ 13,000,000 | $ 13,500,000 | |||||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 2,800,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 1,600,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 800,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 500,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 300,000 | |||||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 50 | |||||||||
Acquisition Costs, Period Cost | $ 1,300,000 | |||||||||
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 | 42,400,000 | 11,200,000 | ||||||||
Accumulated amortization | 7,300,000 | 4,100,000 | ||||||||
Depreciation and amortization | $ 29,400,000 | 8,700,000 | 5,000,000 | |||||||
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 | |||||||||
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 | Land improvements and buildings | ||||||||||
Real Estate Properties | ||||||||||
Estimated useful lives (years) | 40 years | |||||||||
Development Properties | ||||||||||
Real Estate Properties | ||||||||||
Number of Real Estate Properties | Communities | 3 | |||||||||
Number of units under development community | Property | 937 | |||||||||
Number of units in real estate property | Property | 240 | |||||||||
Development Properties | Expected Costs | ||||||||||
Real Estate Properties | ||||||||||
Development and capital improvements in progress | 214,000,000 | |||||||||
Development Properties | Costs Incurred to Date | ||||||||||
Real Estate Properties | ||||||||||
Development and capital improvements in progress | 167,700,000 | |||||||||
Retail | ||||||||||
Real Estate Properties | ||||||||||
Number of Real Estate Properties | Property | 29 | |||||||||
Square footage of real estate property (square foot) | ft² | 617 | |||||||||
Commercial Properties | ||||||||||
Real Estate Properties | ||||||||||
Number of Real Estate Properties | Property | 4 | |||||||||
Square footage of real estate property (square foot) | ft² | 232 | |||||||||
Colonial Grand at McKinney | ||||||||||
Real Estate Properties | ||||||||||
Equity Method Investment, Ownership Percentage | 35.00% | |||||||||
Real Estate Investments, Joint Ventures | 45,000,000 | |||||||||
Real Estate Technology Ventures, L.P. [Member] | ||||||||||
Real Estate Properties | ||||||||||
Equity Method Investment, Ownership Percentage | 31.00% | |||||||||
Real Estate Investments, Joint Ventures | 1,500,000 | |||||||||
Real Estate Technology Ventures, L.P. [Member] | Limited Partner Capital Contribution, Future Obligation [Member] | ||||||||||
Real Estate Properties | ||||||||||
Real Estate Investments, Joint Ventures | 13,500,000 | |||||||||
Post River North [Member] | ||||||||||
Real Estate Properties | ||||||||||
Number of units in real estate property | 359 | |||||||||
Development and capital improvements in progress | 0 | |||||||||
Buildings, Improvements, and Other | 33,900,000 | |||||||||
Percentage of ownership interests of all consolidated subsidiaries (percent) | 92.50% | |||||||||
Land | 0 | |||||||||
Accrued Liabilities | 0 | |||||||||
Parent Company [Member] | ||||||||||
Real Estate Properties | ||||||||||
Capitalized Development Costs, Period | $ 11,000,000 | $ 2,700,000 | 2,300,000 | |||||||
Preferred Stock, Shares Outstanding | shares | 867,846 | 867,846 | ||||||||
Development and capital improvements in progress | $ 231,224,000 | 116,833,000 | ||||||||
Buildings, Improvements, and Other | 10,853,474,000 | 11,281,504,000 | ||||||||
Common Stock, Conversion Basis | 0.71 | |||||||||
Total interest capitalized during period | $ 7,238,000 | 2,073,000 | 1,655,000 | |||||||
Lease Intangibles, Gross | 12,900,706,000 | 13,234,754,000 | ||||||||
Accumulated amortization | 1,674,801,000 | 2,075,071,000 | ||||||||
Depreciation and amortization | 493,708,000 | 322,958,000 | 294,520,000 | |||||||
Land | 1,816,008,000 | 1,836,417,000 | ||||||||
Accrued Liabilities | 452,605,000 | 405,560,000 | ||||||||
Parent Company [Member] | Maximum | ||||||||||
Real Estate Properties | ||||||||||
Maximum self insurance reserve for general liability claims | 100,000 | |||||||||
Accrued Liabilities [Member] | ||||||||||
Real Estate Properties | ||||||||||
Dividends Payable | 102,400,000 | 108,700,000 | ||||||||
Accrued Real Estate Taxes | 97,600,000 | 99,600,000 | ||||||||
Unearned Income | 40,800,000 | 39,400,000 | ||||||||
Loss Contingency, Loss in Period | $ 32,100,000 | 42,100,000 | ||||||||
Security Deposit Liability | 18,800,000 | 19,100,000 | ||||||||
Interest Payable | $ 19,100,000 | 18,100,000 | ||||||||
Limited Partner [Member] | ||||||||||
Real Estate Properties | ||||||||||
General partners' capital account, units outstanding | shares | 113,518,212 | 113,643,166 | ||||||||
Development and capital improvements in progress | $ 231,224,000 | 116,833,000 | ||||||||
Buildings, Improvements, and Other | 10,853,474,000 | 11,281,504,000 | ||||||||
Common Unit, Conversion Basis | 0.71 | |||||||||
Total interest capitalized during period | $ 7,238,000 | 2,073,000 | 1,655,000 | |||||||
Lease Intangibles, Gross | 12,900,706,000 | 13,234,754,000 | ||||||||
Accumulated amortization | 1,674,801,000 | 2,075,071,000 | ||||||||
Depreciation and amortization | $ 493,708,000 | 322,958,000 | $ 294,520,000 | |||||||
Land | 1,816,008,000 | 1,836,417,000 | ||||||||
Accrued Liabilities | $ 452,605,000 | $ 405,560,000 | ||||||||
Redeemable Preferred Stock [Member] | ||||||||||
Real Estate Properties | ||||||||||
Preferred Stock, Shares Outstanding | shares | 867,846 |
Organization and Summary of S41
Organization and Summary of Significant Accounting Policies Parenthetical | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Accounting Standards Update 2016-15 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Payment for Debt Extinguishment or Debt Prepayment Cost | $ 1,700,000 |
Accounting Standards Update 2016-18 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cash and Cash Equivalents, Period Increase (Decrease) | 78,100,000 |
Net Cash Provided by (Used in) Investing Activities | $ 10,600,000 |
Business Combinations (Unaudite
Business Combinations (Unaudited Pro forma Information) (Details) - Parent Company [Member] - Post [Member] [Domain] $ in Thousands | Dec. 01, 2016USD ($) |
Business Acquisition [Line Items] | |
Business Acquisition, Purchase Price Allocation, Assets Acquired | $ 4,739,414 |
Business Acquisition, Purchase Price Allocation, Liabilities Assumed | (728,515) |
Business Acquisition, Cost of Entity Acquired, Purchase Price | 4,006,586 |
Land | |
Business Acquisition [Line Items] | |
Business Acquisition, PPA, Assets Acquired | 874,616 |
Building and Building Improvements | |
Business Acquisition [Line Items] | |
Business Acquisition, PPA, Assets Acquired | 3,479,483 |
Construction in Progress | |
Business Acquisition [Line Items] | |
Business Acquisition, PPA, Assets Acquired | 183,881 |
Unimproved Land | |
Business Acquisition [Line Items] | |
Business Acquisition, PPA, Assets Acquired | 24,200 |
Real Estate Investment [Member] | |
Business Acquisition [Line Items] | |
Business Acquisition, PPA, Assets Acquired | 44,435 |
Cash and Cash Equivalents [Member] | |
Business Acquisition [Line Items] | |
Business Acquisition, PPA, Assets Acquired | 34,292 |
Restricted Cash | |
Business Acquisition [Line Items] | |
Business Acquisition, PPA, Assets Acquired | 3,608 |
Other Assets | |
Business Acquisition [Line Items] | |
Business Acquisition, PPA, Assets Acquired | 94,899 |
Debt | |
Business Acquisition [Line Items] | |
Business Acquisition, PPA, Liabilities Assumed | (595,609) |
Other Liabilities | |
Business Acquisition [Line Items] | |
Business Acquisition, PPA, Liabilities Assumed | (132,906) |
Noncontrolling Interest | |
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 ($)ft²Communitiesproperties$ / sharesshares | Dec. 31, 2017USD ($)shares | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($)shares | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($) |
Business Acquisition [Line Items] | ||||||||||||
Business Combinations, Other Consideration | $ 2,000,000 | |||||||||||
Business Combination, Merger and Integration Related Expenses | $ 40,800,000 | |||||||||||
Redeemable Preferred Stock [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Asset | 14.24 | |||||||||||
Mandatorily Redeemable Preferred Stock, Fair Value Disclosure | $ 77 | |||||||||||
Preferred Stock, Shares Outstanding | shares | 867,846 | |||||||||||
Unsecured Debt | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Business Combination, Consideration Transferred, Other | $ 300,000,000 | |||||||||||
Line of Credit [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Business Combination, Consideration Transferred, Other | $ 162,000,000 | |||||||||||
Equity Method Investments [Member] | Post [Member] [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Number Of Units Acquired In Real Estate Property | Communities | 269 | |||||||||||
Development Portfolio [Member] | Post [Member] [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Number Of Units Acquired In Real Estate Property | Communities | 2,262 | |||||||||||
Parent Company [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Noncontrolling Interest in Joint Ventures | $ 2,306,000 | $ 2,306,000 | $ 2,306,000 | 2,306,000 | ||||||||
Total operating revenues | $ 382,738,000 | $ 384,550,000 | $ 382,791,000 | $ 378,908,000 | $ 307,198,000 | $ 276,898,000 | $ 272,236,000 | $ 269,016,000 | 1,528,987,000 | 1,125,348,000 | $ 1,042,779,000 | |
Business Combination, Merger and Integration Related Expenses | $ 19,990,000 | $ 40,823,000 | $ 0 | |||||||||
Preferred Stock, Shares Outstanding | shares | 867,846 | 867,846 | 867,846 | 867,846 | ||||||||
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 | 232 | |||||||||||
Noncontrolling Interest | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Stock Issued During Period, Shares, Acquisitions | shares | 100,000 | |||||||||||
Business Combination, Separately Recognized Transactions [Domain] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Business Combination, Merger and Integration Related Expenses | $ 20,000,000 |
Earnings Per Common Share of 44
Earnings Per Common Share of MAA (Details) - Parent Company [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Earnings Per Share Disclosure | ||||||||||||
Weighted average common shares, basic | 113,407 | 78,502 | 75,176 | |||||||||
Weighted Average Number Diluted Shares Outstanding Adjustment | 280 | 298 | 0 | |||||||||
Weighted average common shares - diluted | 113,687 | 78,800 | 75,176 | |||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 128,007 | $ 118,958 | $ 50,155 | $ 43,416 | $ 42,058 | $ 88,906 | $ 47,630 | $ 45,808 | $ 340,536 | $ 224,402 | $ 350,745 | |
Dividends, Preferred Stock, Cash | 3,688 | 924 | 0 | |||||||||
Calculation of Basic Earnings per Share [Member] | ||||||||||||
Earnings Per Share Disclosure | ||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 340,536 | 224,402 | 350,745 | |||||||||
Income from Continuing Operations Attributable to Noncontrolling Interest | (12,157) | (12,180) | (18,458) | |||||||||
Income from continuing operations allocated to unvested restricted shares | (535) | (572) | (772) | |||||||||
Dividends, Preferred Stock, Cash | (3,688) | (307) | 0 | |||||||||
Income from continuing operations available for common shareholders, adjusted | $ 324,156 | $ 211,343 | $ 331,515 | |||||||||
Basic Earnings Per Share | $ 2.86 | $ 2.69 | $ 4.41 | |||||||||
Calculation of Diluted Earnings per Share [Member] | ||||||||||||
Earnings Per Share Disclosure | ||||||||||||
Income from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | $ 340,536 | $ 224,402 | $ 350,745 | |||||||||
Income from Continuing Operations Attributable to Noncontrolling Interest | (12,157) | (12,180) | (18,458) | |||||||||
Income from continuing operations allocated to unvested restricted shares | 0 | 0 | (772) | |||||||||
Dividends, Preferred Stock, Cash | (3,688) | (307) | 0 | |||||||||
Income from continuing operations available for common shareholders, adjusted | $ 324,691 | $ 211,915 | $ 331,515 | |||||||||
Diluted Earnings Per Share | $ 2.86 | $ 2.69 | $ 4.41 | |||||||||
Limited Partnership Units [Member] | ||||||||||||
Earnings Per Share Disclosure | ||||||||||||
Effect of dilutive securities (shares) | [1] | 4,200 | ||||||||||
Restricted Stock [Member] | ||||||||||||
Earnings Per Share Disclosure | ||||||||||||
Effect of dilutive securities (shares) | 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. |
Earnings Per OP Unit of MAALP45
Earnings Per OP Unit of MAALP (Details) - Limited Partner [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Earnings Per Unit Disclosure | ||||
Weighted average common units - basic | 117,617 | 82,661 | 79,361 | |
Weighted Average Number Diluted Shares Outstanding Adjustment | 280 | 298 | 0 | |
Weighted average common shares - diluted | 117,897 | 82,959 | 79,361 | |
Earnings Per Share, Basic [Abstract] | ||||
Dividends, Preferred Stock, Cash | $ 3,688 | $ 924 | $ 0 | |
Earnings per unit - basic | $ 2.86 | $ 2.70 | $ 4.41 | |
Diluted Earnings Per Unit | $ 2.86 | $ 2.70 | $ 4.41 | |
Calculation of Basic Earnings Per Unit [Member] | ||||
Earnings Per Share, Basic [Abstract] | ||||
Income from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | $ 340,536 | $ 224,402 | $ 350,745 | |
Income from continuing operations allocated to unvested restricted shares | 535 | 574 | 772 | |
Dividends, Preferred Stock, Cash | (3,688) | (307) | 0 | |
Income from continuing operations available for common unitholders, adjusted | $ 336,313 | $ 223,521 | $ 349,973 | |
Earnings per unit - basic | $ 2.86 | $ 2.70 | $ 4.41 | |
Calculation of Diluted Earnings Per Unit [Member] | ||||
Earnings Per Share, Basic [Abstract] | ||||
Income from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | $ 340,536 | $ 224,402 | $ 350,745 | |
Income from continuing operations allocated to unvested restricted shares | 0 | 0 | 772 | |
Dividends, Preferred Stock, Cash | (3,688) | (307) | 0 | |
Income from continuing operations available for common unitholders, adjusted | $ 336,848 | $ 224,095 | $ 349,973 | |
Diluted Earnings Per Unit | $ 2.86 | $ 2.70 | $ 4.41 | |
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 10,800,000 | $ 12,200,000 | $ 6,900,000 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | 232,000 | 697,000 | 735,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 14,100,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 2 months | ||
Employee Service Share-based Compensation, Cash Flow Effect, Cash Used to Settle Awards | $ 4,800,000 | 2,000,000 | 1,000,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 10,500,000 | $ 5,100,000 | $ 2,900,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 18.08 | ||
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 | $ 84.53 | $ 73.20 | $ 68.35 |
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 | 0 | 108,198 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 3,000,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 6 years | ||
Proceeds from Stock Options Exercised | $ 400,000 | $ 0 | |
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 | 3 years | 2 years | 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 | 1 year | 2 years |
Stock Based Compensation Key As
Stock Based Compensation Key Assumptions for Restricted Stock Grants (Details) - Restricted Stock [Member] | 12 Months Ended | ||
Dec. 31, 2017 | 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, Fair Value Assumptions, Expected Dividend Rate | 3.573% | 3.634% | 3.932% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 20.43% | 18.41% | 15.41% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 21.85% | 19.45% | 16.04% |
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 | 0.65% | 0.49% | 0.10% |
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 | 1.57% | 1.27% | 1.05% |
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 | 3 years | 2 years | 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 | 1 year | 2 years |
Stock Based Compensation Status
Stock Based Compensation Status of Nonvested Restricted Shares (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
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 | 180,692 | 225,624 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 81.13 | $ 71.61 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Issues in Period | 106,113 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Issues in Period, Weighted Average Grant Date Fair Value | $ 87.09 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 147,687 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 70.90 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 3,358 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 84.97 |
Stock Based Compensation Key 49
Stock Based Compensation Key Assumptions for Stock Option Grants (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
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 | 3.573% | 3.634% | 3.932% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 20.43% | 18.41% | 15.41% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 21.85% | 19.45% | 16.04% |
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 | 0.65% | 0.49% | 0.10% |
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 | 1.57% | 1.27% | 1.05% |
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% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 3.81% | ||
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 | 3 years | 2 years | 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 | 1 year | 2 years |
Stock Based Compensation Stat50
Stock Based Compensation Status of Stock Options (Details) - Employee Stock Option [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 108,438 | 147,282 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 72.93 | $ 76.16 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 108,198 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | (21,006) | (7,342) |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 64.92 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | (17,838) | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $ 109.05 | |
Proceeds from Stock Options Exercised | $ 400,000 | $ 0 |
Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 1 year 1 month 8 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.64% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 21.02% | |
Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 2 years 1 month 8 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.63% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 21.57% |
Borrowings (Indebtedness) (Deta
Borrowings (Indebtedness) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 4,500,000 | $ 4,499,700 | |
Average interest rate (percentage) | 3.60% | ||
Contract maturity | Mar. 11, 2022 | ||
Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Average interest rate (percentage) | 3.80% | ||
Contract maturity | Sep. 13, 2019 | ||
Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 3,525,765 | ||
Average interest rate (percentage) | 3.50% | ||
Contract maturity | Dec. 19, 2022 | ||
Mortgages | |||
Debt Instrument [Line Items] | |||
Repayments of Debt | $ 156,400 | ||
FNMA | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, amount outstanding | $ 80,000 | ||
$1 billion unsecured revolving credit faciltiy [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Average interest rate (percentage) | 2.47% | ||
Term Loan [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 550,000 | ||
Average interest rate (percentage) | 3.00% | ||
Contract maturity | Apr. 17, 2018 | ||
Fixed Rate Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 3,724,800 | 3,838,300 | |
Fixed Rate Debt | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | 2,292,000 | 1,860,000 | |
Variable Rate Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | 790,000 | 650,000 | |
Variable Rate Debt | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | [1] | 710,000 | 490,000 |
Fair Market Value Adjustment and Debt Issuance Cost [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | (12,700) | $ 11,400 | |
$1 billion unsecured revolving credit facility [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Line of credit facility, amount outstanding | 410,000 | ||
Secured Debt [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | 976,292 | ||
Variable Rate Credit Facility [Member] | FNMA | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, amount outstanding | $ 80,000 | ||
Average interest rate (percentage) | 1.80% | ||
Contract maturity | Dec. 1, 2018 | ||
Fixed Rate Debt | Mortgages | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Mortgage Loans on Real Estate | $ 882,752 | ||
Average interest rate (percentage) | 4.00% | ||
Contract maturity | Oct. 9, 2019 | ||
Fixed Rate Debt | Senior Notes | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 2,292,000 | ||
Average interest rate (percentage) | 4.00% | ||
Contract maturity | Nov. 13, 2024 | ||
Freddie Mac | FNMA | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Average interest rate (percentage) | 1.80% | ||
Freddie Mac | $1 billion unsecured revolving credit faciltiy [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Line of credit facility, amount outstanding | $ 410,000 | ||
Average interest rate (percentage) | 2.50% | ||
Contract maturity | Apr. 15, 2020 | ||
Fair Market Value Adjustment and Debt Issuance Cost [Member] | $1 billion unsecured revolving credit facility [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, amount outstanding | $ 13,540 | ||
Fair Market Value Adjustment and Debt Issuance Cost [Member] | $1 billion unsecured revolving credit facility [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ (26,235) | ||
Minimum | Term Loan [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 0.90% | ||
Minimum | $1 billion unsecured revolving credit facility [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 0.85% | ||
Maximum | Term Loan [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||
Maximum | $1 billion unsecured revolving credit facility [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.55% | ||
[1] | Amounts are adjusted to reflect interest rate swap and cap agreements in effect at December 31, 2017, and 2016, respectively, which results in paying fixed interest payments over the terms of the interest rate swaps and on changes in interest rates above the strike rate of the cap. |
Borrowings (Interest Rate Range
Borrowings (Interest Rate Ranges, Maturity and Balance of Indebtedness) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.60% | ||
Total outstanding debt | $ 4,500,000 | $ 4,499,700 | |
Debt Instrument, Maturity Date | Mar. 11, 2022 | ||
Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.50% | ||
Total outstanding debt | $ 3,525,765 | ||
Debt Instrument, Maturity Date | Dec. 19, 2022 | ||
Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.80% | ||
Debt Instrument, Maturity Date | Sep. 13, 2019 | ||
Variable Rate Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Effective Percentage | 2.30% | ||
Unsecured Debt | $ 300,000 | ||
Variable Rate Debt [Member] | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date | Aug. 29, 2020 | ||
Secured Debt [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 976,292 | ||
Fixed Rate Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 3,724,800 | 3,838,300 | |
Fixed Rate Debt | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Average Interest Rates | 3.97% | ||
Total outstanding debt | $ 882,800 | 1,128,300 | |
Fixed Rate Debt | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Average Interest Rates | 3.97% | ||
Total outstanding debt | $ 2,292,000 | 1,860,000 | |
Fixed Rate Debt | Interest Rate Swap | |||
Debt Instrument [Line Items] | |||
Debt Instrument Maturity Year | 2,018 | ||
Average Interest Rates | 2.96% | ||
Total outstanding debt | $ 550,000 | 850,000 | |
Fixed Rate Debt | Minimum | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | 0.0300 | ||
Debt Instrument Maturity Year | 2,018 | ||
Fixed Rate Debt | Minimum | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | .0338 | ||
Debt Instrument Maturity Year | 2,018 | ||
Fixed Rate Debt | Minimum | Interest Rate Swap | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | .0245 | ||
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 | 2,027 | ||
Fixed Rate Debt | Maximum | Interest Rate Swap | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | 0.0355 | ||
Variable Rate [Domain] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate, stated percentage | 1.76% | ||
Variable Rate [Domain] | Interest Rate Cap | |||
Debt Instrument [Line Items] | |||
Interest rate, stated percentage | 1.76% | ||
Variable Rate Debt | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ 790,000 | 650,000 | |
Variable Rate Debt | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Debt Instrument Maturity Year | [1] | 2,018 | |
Average Interest Rates | [1] | 1.76% | |
Total outstanding debt | [1] | $ 55,000 | 110,000 |
Variable Rate Debt | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Average Interest Rates | [1] | 2.41% | |
Total outstanding debt | [1] | $ 710,000 | 490,000 |
Variable Rate Debt | Interest Rate Cap | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | [1] | 0.0176 | |
Debt Instrument Maturity Year | [1] | 2,018 | |
Average Interest Rates | [1] | 1.76% | |
Total outstanding debt | [1] | $ 25,000 | 50,000 |
Variable Rate Debt | Minimum | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | [1] | .0176 | |
Variable Rate Debt | Minimum | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument Maturity Year | [1] | 2,020 | |
Interest rate, stated percentage | [1] | 2.31% | |
Variable Rate Debt | Maximum | Taxable Secured | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | [1] | .0176 | |
Variable Rate Debt | Maximum | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt Instrument Maturity Year | [1] | 2,021 | |
Interest rate, stated percentage | [1] | 2.47% | |
Fair Market Value Adjustment and Debt Issuance Cost [Member] | |||
Debt Instrument [Line Items] | |||
Total outstanding debt | $ (12,700) | $ 11,400 | |
[1] | Amounts are adjusted to reflect interest rate swap and cap agreements in effect at December 31, 2017, and 2016, respectively, which results in 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 (Scheduled Principal
Borrowings (Scheduled Principal Repayments on Borrowings) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
2,016 | $ 437,157 | |
2,017 | 567,437 | |
2,018 | 714,423 | |
2,019 | 339,156 | |
2,020 | 664,963 | |
Thereafter | 1,778,921 | |
Total outstanding debt | 4,500,000 | $ 4,499,700 |
Amortization Other [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 19,016 | |
2,017 | 4,653 | |
2,018 | 1,967 | |
2,019 | (1,462) | |
2,020 | (2,037) | |
Thereafter | (3,468) | |
Total outstanding debt | 18,669 | |
Maturities | ||
Debt Instrument [Line Items] | ||
2,016 | 418,141 | |
2,017 | 562,784 | |
2,018 | 712,456 | |
2,019 | 340,618 | |
2,020 | 667,000 | |
Thereafter | 1,782,389 | |
Total outstanding debt | $ 4,483,388 |
Borrowings (Textual) (Details)
Borrowings (Textual) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 4,500,000,000 | $ 4,499,700,000 | ||
Average interest rate (percentage) | 3.60% | |||
Fixed Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 3,724,800,000 | 3,838,300,000 | ||
Mortgages | ||||
Debt Instrument [Line Items] | ||||
Repayments of Debt | 156,400,000 | |||
Floating Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 790,000,000 | 650,000,000 | ||
Variable Rate Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 2.30% | |||
Unsecured Debt | $ 300,000,000 | |||
Unsecured Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 3,525,765,000 | |||
Average interest rate (percentage) | 3.50% | |||
Unsecured Debt | $1 billion unsecured revolving credit facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | $ 1,000,000,000 | |||
Line of credit facility, amount outstanding | $ 410,000,000 | |||
Unsecured Debt | $1 billion unsecured revolving credit faciltiy [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 2.47% | |||
Letters of credit outstanding amount | $ 2,500,000 | |||
Unsecured Debt | Fixed Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | $ 2,292,000,000 | 1,860,000,000 | ||
Average interest rates (percent) | 3.97% | |||
Unsecured Debt | Floating Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | [1] | $ 710,000,000 | 490,000,000 | |
Average interest rates (percent) | [1] | 2.41% | ||
Unsecured Debt | KeyBank Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 150,000,000 | |||
Unsecured Debt | Wells Fargo Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 300,000,000 | |||
Unsecured Debt | Wells Fargo Term Loan 2018 [Domain] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 250,000,000 | |||
Unsecured Debt | US Bank Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 150,000,000 | |||
Unsecured Debt | Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 3.00% | |||
Debt Instrument, Face Amount | $ 550,000,000 | |||
Unsecured Debt | 2011 and 2012 Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 292,000,000 | |||
Unsecured Debt | 3.6% Notes due 2027 [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 3.68% | |||
Proceeds from Unsecured Notes Payable | $ 593,600,000 | |||
Settlement of Forward Swaps | $ 300,000,000 | |||
Interest rate, stated percentage | 3.60% | |||
Debt Instrument, Issue Price | 99.58% | |||
Debt Instrument, Unamortized Discount, Current | $ 2,500,000 | |||
Other Underwriting Expense | 3,900,000 | |||
Debt Instrument, Face Amount | $ 600,000,000 | |||
Unsecured Debt | Minimum | $1 billion unsecured revolving credit facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.85% | |||
Unsecured Debt | Minimum | Floating Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Interest rate, stated percentage | [1] | 2.31% | ||
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 | Minimum | Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.90% | |||
Unsecured Debt | Maximum | $1 billion unsecured revolving credit facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | $ 1,500,000,000 | |||
Debt Instrument, Basis Spread on Variable Rate | 1.55% | |||
Unsecured Debt | Maximum | Floating Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Interest rate, stated percentage | [1] | 2.47% | ||
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 | Maximum | Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||
Unsecured Debt | Variable Rate Debt [Member] | $1 billion unsecured revolving credit faciltiy [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 2.50% | |||
Line of credit facility, amount outstanding | $ 410,000,000 | |||
Unsecured Debt | Fixed Rate Debt | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Term | 6 years 10 months 15 days | |||
Unsecured Debt | Fixed Rate Debt | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 4.00% | |||
Debt Instrument, Face Amount | $ 2,292,000,000 | |||
Unsecured Debt | Fixed Rate Debt | Public Income Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 2,000,000,000 | |||
Unsecured Debt | Fixed Rate Debt | Private Placement [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | 0 | |||
Debt Instrument, Decrease, Forgiveness | $ 18,000,000 | |||
Unsecured Debt | Fixed Rate Debt | Minimum | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Term | 7 years | |||
Unsecured Debt | Fixed Rate Debt | Maximum | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Term | 12 years | |||
Secured Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 3.80% | |||
Secured Debt [Member] | FNMA | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | $ 80,000,000 | |||
Line of credit facility, amount outstanding | 80,000,000 | |||
Line of Credit Facility, Current Borrowing Capacity | 80,000,000 | |||
Secured Debt [Member] | Amortization Other [Member] | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | $ 12,000,000 | |||
Secured Debt [Member] | Variable Rate Debt [Member] | FNMA | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 1.80% | |||
Secured Debt [Member] | Fixed Rate Debt | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Average interest rate (percentage) | 4.00% | |||
Mortgage Loans on Real Estate | $ 882,752,000 | |||
Parent Company [Member] | ||||
Debt Instrument [Line Items] | ||||
Unsecured Debt | 3,525,765,000 | 3,180,624,000 | ||
Proceeds from notes payable | 597,480,000 | $ 300,000,000 | $ 395,960,000 | |
Grand Cypress [Member] | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | 15,800,000 | |||
Venue at Stonebridge Ranch [Member] | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | 13,900,000 | |||
La Valencia At Starwood | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | 20,100,000 | |||
Colonial Grand at Trinity Commons [Member] | Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage Loans on Real Estate | 27 | |||
Line of Credit Facility, Draws [Member] | Secured Debt [Member] | FNMA | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, amount outstanding | 805,000,000 | |||
Line of Credit [Member] | Secured Debt [Member] | FNMA | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, amount outstanding | $ 885,000,000 | |||
[1] | Amounts are adjusted to reflect interest rate swap and cap agreements in effect at December 31, 2017, and 2016, respectively, which results in 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 Debt Instrument (Det
Borrowings Debt Instrument (Details) $ in Millions | Dec. 31, 2017USD ($) |
Secured Debt [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | |
Debt Instrument [Line Items] | |
Long-term Line of Credit | $ 80 |
Fair Value of Derivatives and F
Fair Value of Derivatives and Financial Instruments (Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk) (Details) - Designated as Hedging Instrument | Dec. 31, 2017USD ($)Contract |
Interest Rate Cap | |
Derivative | |
Number of Instruments | Contract | 1 |
Derivative, Notional Amount | $ | $ 25,000,000 |
Interest Rate Swap | |
Derivative | |
Number of Instruments | Contract | 10 |
Derivative, Notional Amount | $ | $ 550,000,000 |
Fair Value of Derivatives and57
Fair Value of Derivatives and Financial Instruments (Effect of Derivative Instruments on Consolidated Statement of Operations) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Designated as Hedging Instrument | Interest Expense | ||||
Derivative | ||||
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | $ (730) | $ (4,364) | $ (7,064) | |
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 197 | (54) | (100) | |
Designated as Hedging Instrument | Interest Rate Contract | ||||
Derivative | ||||
Unrealized (loss) gain from the effective portion of derivative instruments | 319 | (1,500) | (8,306) | |
Not Designated as Hedging Instrument | Interest Expense | ||||
Derivative | ||||
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0 | 0 | (3) | |
Parent Company [Member] | ||||
Derivative | ||||
Accumulated other comprehensive income (losses) | 2,157 | 1,144 | (1,589) | $ (412) |
Unrealized (loss) gain from the effective portion of derivative instruments | $ 319 | $ (1,500) | $ (8,306) |
Fair Value of Derivatives and58
Fair Value of Derivatives and Financial Instruments (Other Comprehensive Income) (Details) - Parent Company [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | $ 1,144 | $ (1,589) | $ (412) |
Other comprehensive income before reclassifications | 319 | (1,500) | (8,306) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 730 | 4,364 | 7,064 |
Net current-period other comprehensive income attributable to noncontrolling interest | (36) | (131) | 65 |
Net current-period other comprehensive income attributable to MAA | 1,013 | 2,733 | (1,177) |
Ending balance | $ 2,157 | $ 1,144 | $ (1,589) |
Fair Value of Derivatives and59
Fair Value of Derivatives and Financial Instruments (Textual) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative | ||
Preferred Stock, Redemption Price Per Share | $ 50 | |
Net liability position | ||
Derivative | ||
Credit risk related contingent features termination value | $ 1,600,000 | |
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 | $ 885,900 | |
Parent Company [Member] | ||
Derivative | ||
Preferred Stock, Shares Issued | 867,846 | 867,846 |
Fair Value of Derivatives and60
Fair Value of Derivatives and Financial Instruments Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
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 [Line Items] | ||
Notes Payable Excluding Interest Rate Swaps and Cap Agreements | $ 3,160,000 | $ 3,000,000 |
Notes Payable, Fair Value Disclosure | 3,290,000 | 3,130,000 |
Floating Rate Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes Payable Excluding Interest Rate Swaps and Cap Agreements | 1,300,000 | 1,500,000 |
Notes Payable, Fair Value Disclosure | 1,300,000 | 1,500,000 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Interest Rate Derivative Assets, at Fair Value | 3,551 | 2,364 |
Interest Rate Derivative Liabilities, at Fair Value | 1,316 | 7,562 |
Embedded Derivative, Fair Value of Embedded Derivative Asset | 21,169 | $ 10,783 |
Embedded Derivative, Gain on Embedded Derivative | 10,386 | |
Business Combinations, Purchase Price Adjustment, Subsequent Adjustment | 1,600 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Change in Unrealized Gain (Loss) | $ 8,800 |
Income Taxes (Taxability of Cas
Income Taxes (Taxability of Cash Distributions Paid on Common Shares) (Details) - Parent Company [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Investments, Owned, Federal Income Tax Note | |||
Ordinary income (dollars per share) | $ 2.79 | $ 3.28 | $ 3.07 |
Ordinary income (percentage per share) | 80.20% | 100.00% | 99.70% |
Return of capital (dollars per share) | $ 0.31 | $ 0 | $ 0 |
Return of capital (percentage per share) | 8.90% | 0.00% | 0.00% |
Un-recaptured Section 1250 gain dividends per share | $ 0.38 | $ 0 | $ 0.01 |
Un-recaptured Section 1250 gain dividends per share percentage | 10.90% | 0.00% | 0.30% |
Total (dollars per share) | $ 3.48 | $ 3.28 | $ 3.08 |
Total (percentage per share) | 100.00% | 100.00% | 100.00% |
Income Taxes (Textual) (Details
Income Taxes (Textual) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Investments, Owned, Federal Income Tax Note | |||
Deferred Tax Assets, Net | $ 58,200,000 | ||
Parent Company [Member] | |||
Investments, Owned, Federal Income Tax Note | |||
Operating Loss Carryforwards | $ 71,500,000 | ||
Designated as Hedging Instrument | Interest Rate Swap | |||
Investments, Owned, Federal Income Tax Note | |||
Derivative, Notional Amount | 550,000,000 | ||
Scenario, Adjustment [Member] | Parent Company [Member] | |||
Investments, Owned, Federal Income Tax Note | |||
Operating Loss Carryforwards | 25,200,000 | ||
Subsidiary of Common Parent | |||
Investments, Owned, Federal Income Tax Note | |||
Income tax expense/(benefit) | $ 0 | $ 0 | $ 0 |
Income Taxes Deferred Tax Asset
Income Taxes Deferred Tax Assets and Liabilities (Details) - Subsidiary of Common Parent - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Investments, Owned, Federal Income Tax Note | ||
Deferred Tax Assets, Property, Plant and Equipment | $ 0 | $ 13,387 |
Deferred expenses | 0 | 12,481 |
Net operating loss carryforward | 0 | 32,585 |
Accrued liabilities | 0 | 102 |
Deferred tax assets | 0 | 58,555 |
Deferred tax liabilities, real estate asset basis differences | 0 | (311) |
Net deferred tax assets, before valuation allowance | 0 | 58,244 |
Valuation Allowance | 0 | (58,244) |
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Investments, Owned, Federal Income Tax Note | |||
Tax expense/(benefit) at U.S. statutory rates on TRS income subject to tax | $ 2,177 | $ 3,185 | $ 2,506 |
Effect of Permanent Differences and Other | 0 | 0 | (730) |
Valuation Allowance Change in Amount | (2,177) | (3,185) | (1,776) |
Income tax expense/(benefit) | $ 0 | $ 0 | $ 0 |
Shareholder's Equity (Details)
Shareholder's Equity (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Stockholders Equity Note [Line Items] | |||
Common stock, shares outstanding | 113,643,166 | 113,518,212 | |
Common shares and operating partnership units outstanding | 117,834,752 | 117,738,615 | |
Treasury Stock, Shares, Acquired | 47,956 | 22,067 | |
Preferred Stock, Liquidation Preference, Value | $ 43,400,000 | ||
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 | ||
Dividend And Distribution Reinvestment And Share Purchase Plan | |||
Stockholders Equity Note [Line Items] | |||
Common stock issued for shareholders to reinvest distributions (shares) | 9,568 | 7,906 | 8,562 |
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 | 867,846 | |
Common stock, shares outstanding | 113,643,166 | 113,518,212 | |
Percentage of Operating Partnership net income (percent) | 96.40% | 95.00% | 94.80% |
Noncontrolling Interest in Joint Ventures | $ 2,306,000 | $ 2,306,000 | |
Common stock registered for Dividend and Distribution Reinvestment and Share Purchase Plan (shares) | 145,000,000 | 145,000,000 | |
Proceeds from Issuance of Common Stock | $ 1,557,000 | $ 291,000 | $ 622,000 |
Proceeds from Stock Options Exercised | $ 432,000 | $ 0 | $ 420,000 |
Preferred Stock, Liquidation Preference Per Share | $ 50 | $ 50 | |
Employee Stock Option [Member] | |||
Stockholders Equity Note [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 108,438 | 147,282 | |
Proceeds from Stock Options Exercised | $ 400,000 | $ 0 | |
Noncontrolling Interest | |||
Stockholders Equity Note [Line Items] | |||
Common Shares Issuable Upon Conversion Of Convertible Stock | 4,191,586 | 4,220,403 | |
Limited Partners' Capital Account | $ 421,500,000 | $ 413,300,000 | |
Redeemable Capital Shares Par Or Stated Value Per Share | $ 100.56 | $ 97.92 | |
Percentage of Operating Partnership net income (percent) | 3.60% | 5.00% | 5.20% |
Partners' Capital of MAA LP (De
Partners' Capital of MAA LP (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2017 | |
Schedule of Capital Structure [Line Items] | ||
Operating partnership units outstanding | 117,738,615 | 117,834,752 |
General partners' capital account, units outstanding | 113,518,212 | 113,643,166 |
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 96.40% | |
Limited partners' capital account, units outstanding | 4,191,586 | |
Noncontrolling Interest | ||
Schedule of Capital Structure [Line Items] | ||
Common Shares Issuable Upon Conversion Of Convertible Stock | 4,220,403 | 4,191,586 |
Redeemable Capital Shares Par Or Stated Value Per Share | $ 97.92 | $ 100.56 |
Limited Partners' Capital Account | $ 413.3 | $ 421.5 |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) | 12 Months Ended | ||
Dec. 31, 2017USD ($)installment$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | |
Defined Benefit Plan Disclosure | |||
Employer contribution for defined contribution plan | $ 2,800,000 | $ 2,000,000 | $ 1,000,000 |
Employee Stock Ownership Plan, common stock, shares outstanding (shares) | shares | 145,598.175 | ||
Employee Stock Ownership Plan, common stock, fair value | $ 14,600,000 | ||
Outside Directors | |||
Defined Benefit Plan Disclosure | |||
Number of deferred common stock (shares) | shares | 12,293 | 10,166 | 8,466 |
Weighted-average grant date fair values of deferred common stock (dollars per share) | $ / shares | $ 101.34 | $ 97.99 | $ 78.62 |
Nonqualified Deferred Compensation Plan | |||
Defined Benefit Plan Disclosure | |||
Deferred compensation expense | $ 249,000 | $ 96,000 | $ 106,000 |
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, 2017 | Dec. 31, 2016 |
Legal Proceedings | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 882 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 724 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 708 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 718 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 733 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 62,788 | |
Loss contingency accrual, at carrying value | 32,100 | $ 42,100 |
Operating Leases, Future Minimum Payments Due | $ 66,553 |
Segment Information (Textual) (
Segment Information (Textual) (Details) - 12 months ended Dec. 31, 2017 individual in Millions | Total | Property | Communities | States | individual |
Segment Reporting Information [Line Items] | |||||
Number of Real Estate Properties | 302 | 301 | |||
Number of states in which apartment units are located (states) | States | 17 | ||||
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, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Revenues | ||||||||||||
Business Combination, Merger and Integration Related Expenses | $ (40,800,000) | |||||||||||
Preferred Stock Dividends, Income Statement Impact | $ 0 | |||||||||||
Parent Company [Member] | ||||||||||||
Revenues | ||||||||||||
Total operating revenues | $ 382,738,000 | $ 384,550,000 | $ 382,791,000 | $ 378,908,000 | $ 307,198,000 | $ 276,898,000 | $ 272,236,000 | $ 269,016,000 | $ 1,528,987,000 | 1,125,348,000 | 1,042,779,000 | |
Net operating income | 952,256,000 | 701,992,000 | 642,134,000 | |||||||||
Depreciation and amortization | (493,708,000) | (322,958,000) | (294,520,000) | |||||||||
Property management expense | (43,588,000) | (34,093,000) | (30,990,000) | |||||||||
General and administrative expense | (40,194,000) | (29,040,000) | (25,716,000) | |||||||||
Business Combination, Merger and Integration Related Expenses | (19,990,000) | (40,823,000) | 0 | |||||||||
Interest expense | (154,751,000) | (129,947,000) | (122,344,000) | |||||||||
Gain on sale of depreciable real estate assets excluded from discontinued operations | 127,386,000 | 80,397,000 | 189,958,000 | |||||||||
Income tax expense | (2,619,000) | (1,699,000) | (1,673,000) | |||||||||
Gain on sale of non-depreciable real estate assets | 21,000 | 2,171,000 | 172,000 | |||||||||
Other Nonoperating Income (Expense) | 14,353,000 | (1,839,000) | (6,274,000) | |||||||||
Gain (loss) from real estate joint ventures | 1,370,000 | 241,000 | (2,000) | |||||||||
Net income attributable to noncontrolling interests | (12,157,000) | (12,180,000) | (18,458,000) | |||||||||
Preferred Stock Dividends, Income Statement Impact | (3,688,000) | (307,000) | ||||||||||
Net income attributable to MAA | $ 122,528,000 | $ 113,787,000 | $ 47,393,000 | $ 40,983,000 | $ 39,079,000 | $ 84,279,000 | $ 45,144,000 | $ 43,413,000 | 324,691,000 | 211,915,000 | 332,287,000 | |
Parent Company [Member] | Large Market Same Store | ||||||||||||
Revenues | ||||||||||||
Real Estate Revenue, Net | 672,131,000 | 652,560,000 | 612,934,000 | [1] | ||||||||
Net operating income | 422,075,000 | 407,294,000 | 377,025,000 | [1] | ||||||||
Parent Company [Member] | Secondary Market Same Store | ||||||||||||
Revenues | ||||||||||||
Real Estate Revenue, Net | 349,007,000 | 340,161,000 | 327,700,000 | [1] | ||||||||
Net operating income | 218,673,000 | 213,273,000 | 204,382,000 | [1] | ||||||||
Parent Company [Member] | Non Same Store And Other | ||||||||||||
Revenues | ||||||||||||
Real Estate Revenue, Net | 507,849,000 | 132,627,000 | 102,145,000 | [1] | ||||||||
Net operating income | $ 311,508,000 | $ 81,425,000 | $ 60,727,000 | [1] | ||||||||
[1] | The 2015 column shows the segment break down based on the 2016 same store portfolios. A comparison using the 2017 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, 2017 | Dec. 31, 2016 |
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Assets | $ 11,491,919 | $ 11,604,491 |
Large Market Same Store | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Assets | 4,003,859 | 4,126,885 |
Secondary Market Same Store | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Assets | 1,718,237 | 1,768,183 |
Non Same Store And Other | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Assets | 5,570,003 | 5,479,780 |
Corporate assets | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Assets | $ 199,820 | $ 229,643 |
Real Estate Acquisitions and 72
Real Estate Acquisitions and Dispositions Real Estate Acquisitions and Dispositions - Additional Information (Details) | Dec. 31, 2017Apartments | Sep. 30, 2017aApartments | Jun. 30, 2017ft²a | Mar. 31, 2017Apartments |
Paddock Club Lakeland [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Number of units in real estate property | 464 | |||
Area of Land | a | 9 | |||
Charlotte at MIdtown [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Number of units in real estate property | 279 | |||
Colonial Grand at Lakewood Ranch [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Square footage of real estate property (square foot) | ft² | 12 | |||
Post Alexander [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Area of Land | a | 1 | |||
Paddock Club Montgomery [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Number of units in real estate property | 208 | |||
Northwood [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Number of units in real estate property | 270 | |||
Town Park Lot [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Area of Land | a | 1 | |||
Acklen West End [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Number of units in real estate property | 320 | |||
Terraces At Fieldstone [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Number of units in real estate property | 316 | |||
Terraces At Townelake [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Number of units in real estate property | 502 |
Subsequent Events (Details)
Subsequent Events (Details) | Feb. 01, 2018USD ($) |
Mortgages | Subsequent Event [Member] | Highlands of West Village [Member] | |
Subsequent Event [Line Items] | |
Mortgage Loans on Real Estate | $ 38,500,000 |
Selected Quarterly Financial 74
Selected Quarterly Financial Information (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Preferred Stock Dividends, Income Statement Impact | $ 0 | ||||||||||
Parent Company [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Total operating revenues | $ 382,738,000 | $ 384,550,000 | $ 382,791,000 | $ 378,908,000 | $ 307,198,000 | $ 276,898,000 | $ 272,236,000 | $ 269,016,000 | $ 1,528,987,000 | $ 1,125,348,000 | 1,042,779,000 |
Income from continuing operations before non-operating items | 96,473,000 | 94,671,000 | 85,976,000 | 77,656,000 | 44,618,000 | 74,823,000 | 78,215,000 | 77,422,000 | 354,776,000 | 275,078,000 | 290,908,000 |
Interest expense | (154,751,000) | (129,947,000) | (122,344,000) | ||||||||
Loss from real estate joint ventures | 1,370,000 | 241,000 | (2,000) | ||||||||
Consolidated net income | 128,007,000 | 118,958,000 | 50,155,000 | 43,416,000 | 42,058,000 | 88,906,000 | 47,630,000 | 45,808,000 | 340,536,000 | 224,402,000 | 350,745,000 |
Net income attributable to noncontrolling interest | 12,157,000 | 12,180,000 | 18,458,000 | ||||||||
Preferred Stock Dividends, Income Statement Impact | 3,688,000 | 307,000 | |||||||||
Net income (loss) available for MAA common shareholders | $ 122,528,000 | $ 113,787,000 | $ 47,393,000 | $ 40,983,000 | $ 39,079,000 | $ 84,279,000 | $ 45,144,000 | $ 43,413,000 | $ 324,691,000 | $ 211,915,000 | $ 332,287,000 |
Earnings per share - basic | $ 1.08 | $ 1 | $ 0.42 | $ 0.36 | $ 0.44 | $ 1.12 | $ 0.60 | $ 0.58 | $ 2.86 | $ 2.69 | $ 4.41 |
Earnings per share - diluted | $ 1.08 | $ 1 | $ 0.42 | $ 0.36 | $ 0.44 | $ 1.12 | $ 0.60 | $ 0.58 | 2.86 | 2.69 | 4.41 |
Common Stock, Dividends, Per Share, Cash Paid | $ 3.48 | $ 3.28 | $ 3.08 | ||||||||
Net Cash Provided by (Used in) Operating Activities | $ 658,513,000 | $ 484,039,000 | $ 463,721,000 | ||||||||
Proceeds from Stock Options Exercised | 432,000 | 0 | 420,000 | ||||||||
Net Cash Provided by (Used in) Investing Activities | (283,435,000) | (710,487,000) | (136,215,000) | ||||||||
Return (funding) of escrow for future acquisitions | 10,591,000 | (58,259,000) | 8,000 | ||||||||
Payments To Acquire Real Estate And Other Assets | (136,065,000) | (339,186,000) | (328,193,000) | ||||||||
Payments for Capital Improvements | (343,890,000) | (183,977,000) | (166,021,000) | ||||||||
Net Cash Provided by (Used in) Financing Activities | (397,864,000) | 222,425,000 | (316,600,000) | ||||||||
Limited Partner [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Total operating revenues | $ 382,738,000 | $ 384,550,000 | $ 382,791,000 | $ 378,908,000 | $ 307,198,000 | $ 276,898,000 | $ 272,236,000 | $ 269,016,000 | 1,528,987,000 | 1,125,348,000 | 1,042,779,000 |
Income from continuing operations before non-operating items | 96,473,000 | 94,671,000 | 85,976,000 | 77,656,000 | 44,618,000 | 74,823,000 | 78,215,000 | 77,422,000 | 354,776,000 | 275,078,000 | 290,908,000 |
Interest expense | (154,751,000) | (129,947,000) | (122,344,000) | ||||||||
Loss from real estate joint ventures | 1,370,000 | 241,000 | (2,000) | ||||||||
Consolidated net income | 128,007,000 | 118,958,000 | 50,155,000 | 43,416,000 | 42,058,000 | 88,906,000 | 47,630,000 | 45,808,000 | 340,536,000 | 224,402,000 | 350,745,000 |
Preferred Stock Dividends, Income Statement Impact | (3,688,000) | (307,000) | 0 | ||||||||
Net Income (Loss) Available to Common Unitholders | $ 127,085,000 | $ 118,036,000 | $ 49,233,000 | $ 42,494,000 | $ 41,751,000 | $ 88,906,000 | $ 47,630,000 | $ 45,808,000 | |||
Earnings per share - basic | $ 1.08 | $ 1 | $ 0.42 | $ 0.36 | $ 0.45 | $ 1.12 | $ 0.60 | $ 0.61 | |||
Earnings per share - diluted | $ 1.08 | $ 1 | $ 0.42 | $ 0.36 | $ 0.45 | $ 1.12 | $ 0.60 | $ 0.61 | |||
Net Cash Provided by (Used in) Operating Activities | 658,513,000 | 484,039,000 | 463,721,000 | ||||||||
Proceeds from Stock Options Exercised | 432,000 | 0 | 420,000 | ||||||||
Net Cash Provided by (Used in) Investing Activities | (283,435,000) | (710,487,000) | (136,215,000) | ||||||||
Return (funding) of escrow for future acquisitions | 10,591,000 | (58,259,000) | 8,000 | ||||||||
Payments To Acquire Real Estate And Other Assets | (136,065,000) | (339,186,000) | (328,193,000) | ||||||||
Payments for Capital Improvements | (343,890,000) | (183,977,000) | (166,021,000) | ||||||||
Net Cash Provided by (Used in) Financing Activities | $ (397,864,000) | $ 222,425,000 | $ (316,600,000) |
Schedule III Real Estate and 75
Schedule III Real Estate and Accumulated Depreciation (Details) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 757,579,000 | ||||
Initial Cost Land | 1,887,640,000 | ||||
Initial Cost Buildings and Fixtures | 10,017,389,000 | ||||
Gross Amount, Land | 1,893,702,000 | ||||
Gross Amount, Buildings and Fixtures | 11,398,337,000 | ||||
Total | 13,292,039,000 | $ 12,972,170,000 | $ 8,215,768,000 | $ 8,069,395,000 | |
Accumulated Depreciation | (2,075,071,000) | $ (1,674,801,000) | $ (1,499,213,000) | $ (1,373,678,000) | |
Net | 11,216,968,000 | ||||
Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,062,000 | ||||
Buildings and Fixtures | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,380,948,000 | ||||
Total Residential Properties | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 757,579,000 | ||||
Initial Cost Land | 1,764,973,000 | ||||
Initial Cost Buildings and Fixtures | 9,805,837,000 | ||||
Gross Amount, Land | 1,770,118,000 | ||||
Gross Amount, Buildings and Fixtures | 11,064,136,000 | ||||
Total | 12,834,254,000 | ||||
Accumulated Depreciation | (2,044,805,000) | ||||
Net | 10,789,449,000 | ||||
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 | 29,555,000 | ||||
Total | 30,475,000 | ||||
Accumulated Depreciation | (5,278,000) | ||||
Net | $ 25,197,000 | ||||
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 | 22,805,000 | ||||
Total | 27,376,000 | ||||
Accumulated Depreciation | (4,917,000) | ||||
Net | $ 22,459,000 | ||||
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 | 29,169,000 | ||||
Total | 34,369,000 | ||||
Accumulated Depreciation | (3,074,000) | ||||
Net | $ 31,295,000 | ||||
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 | 58,355,000 | ||||
Total | 70,284,000 | ||||
Accumulated Depreciation | (1,841,000) | ||||
Net | $ 68,443,000 | ||||
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 | 11,603,000 | ||||
Total | 12,513,000 | ||||
Accumulated Depreciation | (8,360,000) | ||||
Net | $ 4,153,000 | ||||
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 | 21,183,000 | ||||
Total | 23,023,000 | ||||
Accumulated Depreciation | (13,619,000) | ||||
Net | $ 9,404,000 | ||||
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 | 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 | 16,600,000 | ||||
Total | 17,921,000 | ||||
Accumulated Depreciation | (3,543,000) | ||||
Net | $ 14,378,000 | ||||
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 | 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 | 7,057,000 | ||||
Total | 7,539,000 | ||||
Accumulated Depreciation | (4,598,000) | ||||
Net | $ 2,941,000 | ||||
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 | 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 | 15,294,000 | ||||
Total | 16,598,000 | ||||
Accumulated Depreciation | (10,353,000) | ||||
Net | $ 6,245,000 | ||||
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 | 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 | 12,803,000 | ||||
Total | 14,003,000 | ||||
Accumulated Depreciation | (8,381,000) | ||||
Net | $ 5,622,000 | ||||
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 | Park Haywood [Member] | |||||
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 | 7,438,000 | ||||
Total | 7,798,000 | ||||
Accumulated Depreciation | (5,403,000) | ||||
Net | $ 2,395,000 | ||||
Date of Construction | Dec. 31, 1983 | ||||
Total Residential Properties | Park Haywood [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Park Haywood [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Spring Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 597,000 | ||||
Initial Cost Buildings and Fixtures | 5,374,000 | ||||
Gross Amount, Land | 583,000 | ||||
Gross Amount, Buildings and Fixtures | 8,408,000 | ||||
Total | 8,991,000 | ||||
Accumulated Depreciation | (5,861,000) | ||||
Net | $ 3,130,000 | ||||
Date of Construction | Dec. 31, 1985 | ||||
Total Residential Properties | Spring Creek [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Spring Creek [Member] | 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 | $ 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 | 53,024,000 | ||||
Total | 57,461,000 | ||||
Accumulated Depreciation | (2,272,000) | ||||
Net | $ 55,189,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Runaway Bay [Member] | |||||
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 | 13,631,000 | ||||
Total | 14,728,000 | ||||
Accumulated Depreciation | (8,793,000) | ||||
Net | $ 5,935,000 | ||||
Date of Construction | Dec. 31, 1988 | ||||
Total Residential Properties | Runaway Bay [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Runaway Bay [Member] | Minimum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 1 year | ||||
Total Residential Properties | Acklen West End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 12,761,000 | ||||
Initial Cost Buildings and Fixtures | 58,906,000 | ||||
Gross Amount, Land | 12,761,000 | ||||
Gross Amount, Buildings and Fixtures | 58,928,000 | ||||
Total | 71,689,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | $ 71,689,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
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 | 6,972,000 | ||||
Total | 7,399,000 | ||||
Accumulated Depreciation | (5,131,000) | ||||
Net | $ 2,268,000 | ||||
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 | 30,096,000 | ||||
Total | 32,736,000 | ||||
Accumulated Depreciation | (6,688,000) | ||||
Net | $ 26,048,000 | ||||
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 | 25,340,000 | ||||
Total | 29,101,000 | ||||
Accumulated Depreciation | (5,289,000) | ||||
Net | $ 23,812,000 | ||||
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 | 34,097,000 | ||||
Total | 37,499,000 | ||||
Accumulated Depreciation | (6,552,000) | ||||
Net | $ 30,947,000 | ||||
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 | 11,563,000 | ||||
Total | 12,414,000 | ||||
Accumulated Depreciation | (7,362,000) | ||||
Net | $ 5,052,000 | ||||
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 | 27,268,000 | ||||
Total | 30,479,000 | ||||
Accumulated Depreciation | (5,623,000) | ||||
Net | $ 24,856,000 | ||||
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 | $ 0 | ||||
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 | 42,964,000 | ||||
Total | 47,907,000 | ||||
Accumulated Depreciation | (7,608,000) | ||||
Net | $ 40,299,000 | ||||
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 | 23,969,000 | ||||
Total | 25,708,000 | ||||
Accumulated Depreciation | (13,490,000) | ||||
Net | $ 12,218,000 | ||||
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 | $ 0 | ||||
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 | 30,347,000 | ||||
Total | 33,948,000 | ||||
Accumulated Depreciation | (5,973,000) | ||||
Net | $ 27,975,000 | ||||
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 [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 Montgomery [Member] | 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 | 13,826,000 | ||||
Total | 15,116,000 | ||||
Accumulated Depreciation | (2,472,000) | ||||
Net | $ 12,644,000 | ||||
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 | 35,541,000 | ||||
Total | 39,463,000 | ||||
Accumulated Depreciation | (6,857,000) | ||||
Net | $ 32,606,000 | ||||
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 | 56,041,000 | ||||
Total | 63,861,000 | ||||
Accumulated Depreciation | (10,256,000) | ||||
Net | $ 53,605,000 | ||||
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 | 16,985,000 | ||||
Total | 18,011,000 | ||||
Accumulated Depreciation | (11,422,000) | ||||
Net | $ 6,589,000 | ||||
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 | 56,924,000 | ||||
Total | 56,924,000 | ||||
Accumulated Depreciation | (3,827,000) | ||||
Net | $ 53,097,000 | ||||
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 | 14,003,000 | ||||
Total | 14,963,000 | ||||
Accumulated Depreciation | (9,166,000) | ||||
Net | $ 5,797,000 | ||||
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 | 28,629,000 | ||||
Total | 31,189,000 | ||||
Accumulated Depreciation | (6,366,000) | ||||
Net | $ 24,823,000 | ||||
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 | 27,537,000 | ||||
Total | 30,163,000 | ||||
Accumulated Depreciation | (3,935,000) | ||||
Net | $ 26,228,000 | ||||
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 | 19,748,000 | ||||
Total | 21,019,000 | ||||
Accumulated Depreciation | (12,205,000) | ||||
Net | $ 8,814,000 | ||||
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 | 29,537,000 | ||||
Total | 37,438,000 | ||||
Accumulated Depreciation | (9,643,000) | ||||
Net | $ 27,795,000 | ||||
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 | 57,502,000 | ||||
Total | 69,714,000 | ||||
Accumulated Depreciation | (2,683,000) | ||||
Net | $ 67,031,000 | ||||
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 | 16,756,000 | ||||
Total | 19,424,000 | ||||
Accumulated Depreciation | (5,147,000) | ||||
Net | $ 14,277,000 | ||||
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 | 50,459,000 | ||||
Total | 63,200,000 | ||||
Accumulated Depreciation | (19,329,000) | ||||
Net | $ 43,871,000 | ||||
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 | 27,664,000 | ||||
Total | 31,883,000 | ||||
Accumulated Depreciation | (5,232,000) | ||||
Net | $ 26,651,000 | ||||
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 | 22,207,000 | ||||
Total | 25,819,000 | ||||
Accumulated Depreciation | (4,217,000) | ||||
Net | $ 21,602,000 | ||||
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 | 14,608,000 | ||||
Total | 15,632,000 | ||||
Accumulated Depreciation | (9,658,000) | ||||
Net | $ 5,974,000 | ||||
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 | 14,014,000 | ||||
Total | 15,181,000 | ||||
Accumulated Depreciation | (8,515,000) | ||||
Net | $ 6,666,000 | ||||
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 | 32,303,000 | ||||
Total | 35,199,000 | ||||
Accumulated Depreciation | (19,400,000) | ||||
Net | $ 15,799,000 | ||||
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 [Member] | |||||
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 | 43,302,000 | ||||
Total | 46,282,000 | ||||
Accumulated Depreciation | (7,910,000) | ||||
Net | $ 38,372,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Colonial Grand at Lakewood Ranch [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 Lakewood Ranch [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 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 | 49,179,000 | ||||
Total | 58,779,000 | ||||
Accumulated Depreciation | (22,555,000) | ||||
Net | $ 36,224,000 | ||||
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 | 20,568,000 | ||||
Total | 22,368,000 | ||||
Accumulated Depreciation | (9,467,000) | ||||
Net | $ 12,901,000 | ||||
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 | 17,083,000 | ||||
Total | 19,123,000 | ||||
Accumulated Depreciation | (3,920,000) | ||||
Net | $ 15,203,000 | ||||
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 | 38,351,000 | ||||
Total | 42,452,000 | ||||
Accumulated Depreciation | (7,306,000) | ||||
Net | $ 35,146,000 | ||||
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 | 21,041,000 | ||||
Total | 25,041,000 | ||||
Accumulated Depreciation | (5,022,000) | ||||
Net | $ 20,019,000 | ||||
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 | 10,994,000 | ||||
Total | 11,848,000 | ||||
Accumulated Depreciation | (7,952,000) | ||||
Net | $ 3,896,000 | ||||
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 | 19,204,000 | ||||
Total | 20,737,000 | ||||
Accumulated Depreciation | (12,455,000) | ||||
Net | $ 8,282,000 | ||||
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 | 20,976,000 | ||||
Total | 22,406,000 | ||||
Accumulated Depreciation | (14,894,000) | ||||
Net | $ 7,512,000 | ||||
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 | 40,222,000 | ||||
Total | 44,269,000 | ||||
Accumulated Depreciation | (19,570,000) | ||||
Net | $ 24,699,000 | ||||
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 | 17,891,000 | ||||
Total | 19,302,000 | ||||
Accumulated Depreciation | (8,887,000) | ||||
Net | $ 10,415,000 | ||||
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 | 26,159,000 | ||||
Total | 29,016,000 | ||||
Accumulated Depreciation | (12,327,000) | ||||
Net | $ 16,689,000 | ||||
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 | 2,000 | ||||
Total | 2,000 | ||||
Accumulated Depreciation | (1,000) | ||||
Net | $ 1,000 | ||||
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 | 37,125,000 | ||||
Total | 43,542,000 | ||||
Accumulated Depreciation | (8,354,000) | ||||
Net | $ 35,188,000 | ||||
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 | 23,974,000 | ||||
Total | 25,652,000 | ||||
Accumulated Depreciation | (16,277,000) | ||||
Net | $ 9,375,000 | ||||
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 [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 Lakeland [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 | |||||
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 | 64,646,000 | ||||
Total | 70,992,000 | ||||
Accumulated Depreciation | (9,528,000) | ||||
Net | $ 61,464,000 | ||||
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 | $ 0 | ||||
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 | 60,017,000 | ||||
Total | 65,759,000 | ||||
Accumulated Depreciation | (11,755,000) | ||||
Net | $ 54,004,000 | ||||
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 | 10,664,000 | ||||
Total | 14,145,000 | ||||
Accumulated Depreciation | (2,132,000) | ||||
Net | $ 12,013,000 | ||||
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 | 44,883,000 | ||||
Total | 52,763,000 | ||||
Accumulated Depreciation | (8,533,000) | ||||
Net | $ 44,230,000 | ||||
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 | 61,416,000 | ||||
Total | 66,078,000 | ||||
Accumulated Depreciation | (11,119,000) | ||||
Net | $ 54,959,000 | ||||
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 | 18,228,000 | ||||
Total | 19,121,000 | ||||
Accumulated Depreciation | (9,868,000) | ||||
Net | $ 9,253,000 | ||||
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 | $ 23,246,000 | ||||
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 | 49,570,000 | ||||
Total | 52,661,000 | ||||
Accumulated Depreciation | (9,338,000) | ||||
Net | $ 43,323,000 | ||||
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 | 19,263,000 | ||||
Total | 20,743,000 | ||||
Accumulated Depreciation | (12,330,000) | ||||
Net | $ 8,413,000 | ||||
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 | 26,645,000 | ||||
Total | 30,245,000 | ||||
Accumulated Depreciation | (3,219,000) | ||||
Net | $ 27,026,000 | ||||
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 | 14,392,000 | ||||
Total | 15,244,000 | ||||
Accumulated Depreciation | (9,850,000) | ||||
Net | $ 5,394,000 | ||||
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 | 5,168,000 | ||||
Gross Amount, Land | 927,000 | ||||
Gross Amount, Buildings and Fixtures | 12,523,000 | ||||
Total | 13,450,000 | ||||
Accumulated Depreciation | (7,945,000) | ||||
Net | $ 5,505,000 | ||||
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 | 4,541,000 | ||||
Initial Cost Buildings and Fixtures | 28,381,000 | ||||
Cost Capitalized subsequent to Acquisition | 366,000 | ||||
Gross Amount, Land | 4,541,000 | ||||
Gross Amount, Buildings and Fixtures | 28,747,000 | ||||
Total | 33,288,000 | ||||
Accumulated Depreciation | (1,197,000) | ||||
Net | $ 32,091,000 | ||||
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 | 16,296,000 | ||||
Initial Cost Buildings and Fixtures | 116,193,000 | ||||
Cost Capitalized subsequent to Acquisition | 2,031,000 | ||||
Gross Amount, Land | 16,296,000 | ||||
Gross Amount, Buildings and Fixtures | 118,224,000 | ||||
Total | 134,520,000 | ||||
Accumulated Depreciation | (5,209,000) | ||||
Net | $ 129,311,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Total Residential Properties | Post Hyde Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 42,050,000 | ||||
Initial Cost Land | 16,891,000 | ||||
Initial Cost Buildings and Fixtures | 95,259,000 | ||||
Cost Capitalized subsequent to Acquisition | 975,000 | ||||
Gross Amount, Land | 16,891,000 | ||||
Gross Amount, Buildings and Fixtures | 96,234,000 | ||||
Total | 113,125,000 | ||||
Accumulated Depreciation | (4,263,000) | ||||
Net | $ 108,862,000 | ||||
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 | 35,260,000 | ||||
Initial Cost Buildings and Fixtures | 153,102,000 | ||||
Cost Capitalized subsequent to Acquisition | 2,994,000 | ||||
Gross Amount, Land | 35,260,000 | ||||
Gross Amount, Buildings and Fixtures | 156,096,000 | ||||
Total | 191,356,000 | ||||
Accumulated Depreciation | (6,618,000) | ||||
Net | 184,738,000 | ||||
Total Residential Properties | Post Soho Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 5,190,000 | ||||
Initial Cost Buildings and Fixtures | 56,296,000 | ||||
Cost Capitalized subsequent to Acquisition | 96,000 | ||||
Gross Amount, Land | 5,190,000 | ||||
Gross Amount, Buildings and Fixtures | 56,392,000 | ||||
Total | 61,582,000 | ||||
Accumulated Depreciation | (2,224,000) | ||||
Net | $ 59,358,000 | ||||
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 | 21,389,000 | ||||
Total | 24,280,000 | ||||
Accumulated Depreciation | (6,969,000) | ||||
Net | $ 17,311,000 | ||||
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 | 70,799,000 | ||||
Total | 77,032,000 | ||||
Accumulated Depreciation | (12,363,000) | ||||
Net | $ 64,669,000 | ||||
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 | $ 0 | ||||
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 | 44,647,000 | ||||
Total | 47,698,000 | ||||
Accumulated Depreciation | (7,910,000) | ||||
Net | $ 39,788,000 | ||||
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 | 37,733,000 | ||||
Total | 40,444,000 | ||||
Accumulated Depreciation | (6,520,000) | ||||
Net | $ 33,924,000 | ||||
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 | $ 27,159,000 | ||||
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 | 28,842,000 | ||||
Total | 35,742,000 | ||||
Accumulated Depreciation | (9,123,000) | ||||
Net | $ 26,619,000 | ||||
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 | 57,071,000 | ||||
Total | 68,239,000 | ||||
Accumulated Depreciation | (11,027,000) | ||||
Net | $ 57,212,000 | ||||
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 | 25,775,000 | ||||
Total | 34,408,000 | ||||
Accumulated Depreciation | (5,890,000) | ||||
Net | $ 28,518,000 | ||||
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 | 8,435,000 | ||||
Initial Cost Buildings and Fixtures | 92,294,000 | ||||
Gross Amount, Land | 8,435,000 | ||||
Gross Amount, Buildings and Fixtures | 92,451,000 | ||||
Total | 100,886,000 | ||||
Accumulated Depreciation | (5,333,000) | ||||
Net | $ 95,553,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Post Alexander [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 15,440,000 | ||||
Initial Cost Buildings and Fixtures | 73,278,000 | ||||
Gross Amount, Land | 15,440,000 | ||||
Gross Amount, Buildings and Fixtures | 74,165,000 | ||||
Total | 89,605,000 | ||||
Accumulated Depreciation | (2,495,000) | ||||
Net | $ 87,110,000 | ||||
Date of Construction | Dec. 31, 2006 | ||||
Total Residential Properties | Post Briarcliff [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 54,386,000 | ||||
Initial Cost Land | 24,645,000 | ||||
Initial Cost Buildings and Fixtures | 114,921,000 | ||||
Gross Amount, Land | 24,645,000 | ||||
Gross Amount, Buildings and Fixtures | 116,063,000 | ||||
Total | 140,708,000 | ||||
Accumulated Depreciation | (4,774,000) | ||||
Net | $ 135,934,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Brookhaven [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 29,048,000 | ||||
Initial Cost Buildings and Fixtures | 106,463,000 | ||||
Gross Amount, Land | 29,048,000 | ||||
Gross Amount, Buildings and Fixtures | 107,982,000 | ||||
Total | 137,030,000 | ||||
Accumulated Depreciation | (4,724,000) | ||||
Net | 132,306,000 | ||||
Total Residential Properties | Post Chastain [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 30,223,000 | ||||
Initial Cost Buildings and Fixtures | 82,964,000 | ||||
Gross Amount, Land | 30,223,000 | ||||
Gross Amount, Buildings and Fixtures | 83,542,000 | ||||
Total | 113,765,000 | ||||
Accumulated Depreciation | (3,428,000) | ||||
Net | $ 110,337,000 | ||||
Date of Construction | Dec. 31, 1990 | ||||
Total Residential Properties | Post Crossing [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 24,418,000 | ||||
Initial Cost Land | 15,799,000 | ||||
Initial Cost Buildings and Fixtures | 48,054,000 | ||||
Gross Amount, Land | 15,799,000 | ||||
Gross Amount, Buildings and Fixtures | 48,866,000 | ||||
Total | 64,665,000 | ||||
Accumulated Depreciation | (2,075,000) | ||||
Net | $ 62,590,000 | ||||
Date of Construction | Dec. 31, 1995 | ||||
Total Residential Properties | Post Gardens [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 17,907,000 | ||||
Initial Cost Buildings and Fixtures | 56,093,000 | ||||
Gross Amount, Land | 17,907,000 | ||||
Gross Amount, Buildings and Fixtures | 56,987,000 | ||||
Total | 74,894,000 | ||||
Accumulated Depreciation | (2,525,000) | ||||
Net | $ 72,369,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Glen [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 25,370,000 | ||||
Initial Cost Land | 13,878,000 | ||||
Initial Cost Buildings and Fixtures | 51,079,000 | ||||
Gross Amount, Land | 13,878,000 | ||||
Gross Amount, Buildings and Fixtures | 51,968,000 | ||||
Total | 65,846,000 | ||||
Accumulated Depreciation | (2,167,000) | ||||
Net | $ 63,679,000 | ||||
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 | 34,530,000 | ||||
Total | 41,405,000 | ||||
Accumulated Depreciation | (11,742,000) | ||||
Net | $ 29,663,000 | ||||
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 [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 Fieldstone [Member] | 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 | 27,812,000 | ||||
Total | 31,652,000 | ||||
Accumulated Depreciation | (12,505,000) | ||||
Net | $ 19,147,000 | ||||
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 | 17,397,000 | ||||
Total | 19,357,000 | ||||
Accumulated Depreciation | (3,853,000) | ||||
Net | $ 15,504,000 | ||||
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 | 27,854,000 | ||||
Total | 31,414,000 | ||||
Accumulated Depreciation | (12,146,000) | ||||
Net | $ 19,268,000 | ||||
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 | $ 0 | ||||
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 | 15,226,000 | ||||
Total | 19,586,000 | ||||
Accumulated Depreciation | (4,196,000) | ||||
Net | $ 15,390,000 | ||||
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 | 20,752,000 | ||||
Total | 23,902,000 | ||||
Accumulated Depreciation | (9,008,000) | ||||
Net | $ 14,894,000 | ||||
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 | 20,947,000 | ||||
Total | 23,006,000 | ||||
Accumulated Depreciation | (4,601,000) | ||||
Net | $ 18,405,000 | ||||
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 | 35,625,000 | ||||
Total | 39,610,000 | ||||
Accumulated Depreciation | (7,730,000) | ||||
Net | $ 31,880,000 | ||||
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 | 35,740,000 | ||||
Total | 42,493,000 | ||||
Accumulated Depreciation | (7,468,000) | ||||
Net | $ 35,025,000 | ||||
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 | 26,646,000 | ||||
Total | 33,507,000 | ||||
Accumulated Depreciation | (4,792,000) | ||||
Net | $ 28,715,000 | ||||
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 | 49,216,000 | ||||
Total | 54,080,000 | ||||
Accumulated Depreciation | (9,697,000) | ||||
Net | $ 44,383,000 | ||||
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 | 30,033,000 | ||||
Total | 33,133,000 | ||||
Accumulated Depreciation | (5,314,000) | ||||
Net | $ 27,819,000 | ||||
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 | $ 0 | ||||
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 | 28,751,000 | ||||
Total | 34,412,000 | ||||
Accumulated Depreciation | (6,365,000) | ||||
Net | $ 28,047,000 | ||||
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 | $ 10,151,000 | ||||
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 | 38,218,000 | ||||
Total | 40,018,000 | ||||
Accumulated Depreciation | (6,821,000) | ||||
Net | $ 33,197,000 | ||||
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 | 31,923,000 | ||||
Total | 33,673,000 | ||||
Accumulated Depreciation | (6,025,000) | ||||
Net | $ 27,648,000 | ||||
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 | 26,716,000 | ||||
Total | 28,216,000 | ||||
Accumulated Depreciation | (5,954,000) | ||||
Net | $ 22,262,000 | ||||
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 | 14,911,000 | ||||
Total | 16,199,000 | ||||
Accumulated Depreciation | (9,397,000) | ||||
Net | $ 6,802,000 | ||||
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 | 40,486,000 | ||||
Total | 42,927,000 | ||||
Accumulated Depreciation | (7,210,000) | ||||
Net | $ 35,717,000 | ||||
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 | 41,651,000 | ||||
Total | 45,151,000 | ||||
Accumulated Depreciation | (2,682,000) | ||||
Net | $ 42,469,000 | ||||
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 | 11,762,000 | ||||
Total | 13,472,000 | ||||
Accumulated Depreciation | (2,729,000) | ||||
Net | $ 10,743,000 | ||||
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 | 36,703,000 | ||||
Total | 38,727,000 | ||||
Accumulated Depreciation | (17,027,000) | ||||
Net | $ 21,700,000 | ||||
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 | 9,128,000 | ||||
Total | 11,649,000 | ||||
Accumulated Depreciation | (1,867,000) | ||||
Net | $ 9,782,000 | ||||
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 | 9,457,000 | ||||
Total | 14,688,000 | ||||
Accumulated Depreciation | (2,289,000) | ||||
Net | $ 12,399,000 | ||||
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 | 29,484,000 | ||||
Total | 32,348,000 | ||||
Accumulated Depreciation | (11,378,000) | ||||
Net | $ 20,970,000 | ||||
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 | $ 38,390,000 | ||||
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 | 49,749,000 | ||||
Total | 58,801,000 | ||||
Accumulated Depreciation | (5,779,000) | ||||
Net | $ 53,022,000 | ||||
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 | 30,413,000 | ||||
Total | 35,771,000 | ||||
Accumulated Depreciation | (3,263,000) | ||||
Net | $ 32,508,000 | ||||
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] | 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 | 42,911,000 | ||||
Total | 46,911,000 | ||||
Accumulated Depreciation | (3,348,000) | ||||
Net | $ 43,563,000 | ||||
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 | 6,222,000 | ||||
Total | 6,633,000 | ||||
Accumulated Depreciation | (4,483,000) | ||||
Net | $ 2,150,000 | ||||
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 | 9,134,000 | ||||
Total | 9,884,000 | ||||
Accumulated Depreciation | (465,000) | ||||
Net | $ 9,419,000 | ||||
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 | 9,861,000 | ||||
Total | 10,555,000 | ||||
Accumulated Depreciation | (7,114,000) | ||||
Net | $ 3,441,000 | ||||
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 | 12,722,000 | ||||
Total | 13,622,000 | ||||
Accumulated Depreciation | (9,221,000) | ||||
Net | $ 4,401,000 | ||||
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 | 19,922,000 | ||||
Total | 21,091,000 | ||||
Accumulated Depreciation | (13,816,000) | ||||
Net | $ 7,275,000 | ||||
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 | 18,923,000 | ||||
Total | 20,458,000 | ||||
Accumulated Depreciation | (12,940,000) | ||||
Net | $ 7,518,000 | ||||
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 | 20,689,000 | ||||
Total | 22,040,000 | ||||
Accumulated Depreciation | (14,664,000) | ||||
Net | $ 7,376,000 | ||||
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 | 17,345,000 | ||||
Total | 18,193,000 | ||||
Accumulated Depreciation | (11,865,000) | ||||
Net | $ 6,328,000 | ||||
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 | 9,516,000 | ||||
Total | 10,192,000 | ||||
Accumulated Depreciation | (4,628,000) | ||||
Net | $ 5,564,000 | ||||
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 | 48,175,000 | ||||
Total | 53,989,000 | ||||
Accumulated Depreciation | (8,671,000) | ||||
Net | $ 45,318,000 | ||||
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 | 31,102,000 | ||||
Total | 35,193,000 | ||||
Accumulated Depreciation | (6,026,000) | ||||
Net | $ 29,167,000 | ||||
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 | 27,951,000 | ||||
Total | 32,860,000 | ||||
Accumulated Depreciation | (5,614,000) | ||||
Net | $ 27,246,000 | ||||
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 | 36,359,000 | ||||
Total | 43,850,000 | ||||
Accumulated Depreciation | (6,608,000) | ||||
Net | $ 37,242,000 | ||||
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 | 12,897,000 | ||||
Total | 13,797,000 | ||||
Accumulated Depreciation | (8,071,000) | ||||
Net | $ 5,726,000 | ||||
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 | 23,768,000 | ||||
Total | 27,768,000 | ||||
Accumulated Depreciation | (10,446,000) | ||||
Net | $ 17,322,000 | ||||
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 | 50,578,000 | ||||
Total | 60,190,000 | ||||
Accumulated Depreciation | (7,567,000) | ||||
Net | $ 52,623,000 | ||||
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 | 65,536,000 | ||||
Total | 68,017,000 | ||||
Accumulated Depreciation | (10,937,000) | ||||
Net | $ 57,080,000 | ||||
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 | 26,519,000 | ||||
Total | 29,680,000 | ||||
Accumulated Depreciation | (4,865,000) | ||||
Net | $ 24,815,000 | ||||
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 | 30,216,000 | ||||
Total | 33,107,000 | ||||
Accumulated Depreciation | (5,735,000) | ||||
Net | $ 27,372,000 | ||||
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 | 29,120,000 | ||||
Total | 33,711,000 | ||||
Accumulated Depreciation | (5,561,000) | ||||
Net | $ 28,150,000 | ||||
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 | 21,112,000 | ||||
Total | 23,372,000 | ||||
Accumulated Depreciation | (3,961,000) | ||||
Net | $ 19,411,000 | ||||
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 | 19,265,000 | ||||
Total | 22,166,000 | ||||
Accumulated Depreciation | (3,350,000) | ||||
Net | $ 18,816,000 | ||||
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 | 19,919,000 | ||||
Total | 21,380,000 | ||||
Accumulated Depreciation | (3,169,000) | ||||
Net | $ 18,211,000 | ||||
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 | 16,216,000 | ||||
Initial Cost Buildings and Fixtures | 44,817,000 | ||||
Gross Amount, Land | 16,216,000 | ||||
Gross Amount, Buildings and Fixtures | 45,815,000 | ||||
Total | 62,031,000 | ||||
Accumulated Depreciation | (1,879,000) | ||||
Net | $ 60,152,000 | ||||
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 | 17,528,000 | ||||
Initial Cost Buildings and Fixtures | 57,444,000 | ||||
Gross Amount, Land | 17,528,000 | ||||
Gross Amount, Buildings and Fixtures | 58,931,000 | ||||
Total | 76,459,000 | ||||
Accumulated Depreciation | (2,609,000) | ||||
Net | $ 73,850,000 | ||||
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 | 20,869,000 | ||||
Initial Cost Buildings and Fixtures | 65,517,000 | ||||
Gross Amount, Land | 20,869,000 | ||||
Gross Amount, Buildings and Fixtures | 67,041,000 | ||||
Total | 87,910,000 | ||||
Accumulated Depreciation | (2,840,000) | ||||
Net | $ 85,070,000 | ||||
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 | 7,196,000 | ||||
Initial Cost Buildings and Fixtures | 51,972,000 | ||||
Gross Amount, Land | 7,196,000 | ||||
Gross Amount, Buildings and Fixtures | 52,179,000 | ||||
Total | 59,375,000 | ||||
Accumulated Depreciation | (2,136,000) | ||||
Net | $ 57,239,000 | ||||
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 | 5,669,000 | ||||
Initial Cost Buildings and Fixtures | 49,754,000 | ||||
Gross Amount, Land | 5,669,000 | ||||
Gross Amount, Buildings and Fixtures | 50,419,000 | ||||
Total | 56,088,000 | ||||
Accumulated Depreciation | (2,187,000) | ||||
Net | $ 53,901,000 | ||||
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 | 18,835,000 | ||||
Initial Cost Buildings and Fixtures | 58,795,000 | ||||
Gross Amount, Land | 18,835,000 | ||||
Gross Amount, Buildings and Fixtures | 59,610,000 | ||||
Total | 78,445,000 | ||||
Accumulated Depreciation | (2,298,000) | ||||
Net | $ 76,147,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Post Uptown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 10,888,000 | ||||
Initial Cost Buildings and Fixtures | 30,078,000 | ||||
Gross Amount, Land | 10,888,000 | ||||
Gross Amount, Buildings and Fixtures | 30,857,000 | ||||
Total | 41,745,000 | ||||
Accumulated Depreciation | (1,318,000) | ||||
Net | $ 40,427,000 | ||||
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 | 30,279,000 | ||||
Total | 34,850,000 | ||||
Accumulated Depreciation | (5,908,000) | ||||
Net | $ 28,942,000 | ||||
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 | 29,444,000 | ||||
Total | 32,034,000 | ||||
Accumulated Depreciation | (5,415,000) | ||||
Net | $ 26,619,000 | ||||
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 | 16,802,000 | ||||
Total | 20,073,000 | ||||
Accumulated Depreciation | (3,766,000) | ||||
Net | $ 16,307,000 | ||||
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 | 39,633,000 | ||||
Total | 43,834,000 | ||||
Accumulated Depreciation | (7,551,000) | ||||
Net | $ 36,283,000 | ||||
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 | $ 0 | ||||
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 | 33,879,000 | ||||
Total | 38,130,000 | ||||
Accumulated Depreciation | (6,387,000) | ||||
Net | $ 31,743,000 | ||||
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 | 25,972,000 | ||||
Total | 29,043,000 | ||||
Accumulated Depreciation | (5,473,000) | ||||
Net | $ 23,570,000 | ||||
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 | 30,453,000 | ||||
Total | 34,143,000 | ||||
Accumulated Depreciation | (5,634,000) | ||||
Net | $ 28,509,000 | ||||
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 | 33,447,000 | ||||
Total | 39,848,000 | ||||
Accumulated Depreciation | (6,286,000) | ||||
Net | $ 33,562,000 | ||||
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 | 52,133,000 | ||||
Total | 59,505,000 | ||||
Accumulated Depreciation | (9,311,000) | ||||
Net | $ 50,194,000 | ||||
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 | 50,338,000 | ||||
Total | 56,910,000 | ||||
Accumulated Depreciation | (8,905,000) | ||||
Net | $ 48,005,000 | ||||
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 | 19,815,000 | ||||
Total | 22,056,000 | ||||
Accumulated Depreciation | (3,451,000) | ||||
Net | $ 18,605,000 | ||||
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 | 32,234,000 | ||||
Total | 35,924,000 | ||||
Accumulated Depreciation | (6,690,000) | ||||
Net | $ 29,234,000 | ||||
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 | $ 0 | ||||
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 | 47,585,000 | ||||
Total | 52,817,000 | ||||
Accumulated Depreciation | (9,293,000) | ||||
Net | $ 43,524,000 | ||||
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 | 46,736,000 | ||||
Total | 52,567,000 | ||||
Accumulated Depreciation | (16,187,000) | ||||
Net | $ 36,380,000 | ||||
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 | 30,691,000 | ||||
Total | 35,386,000 | ||||
Accumulated Depreciation | (10,093,000) | ||||
Net | $ 25,293,000 | ||||
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 | 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 | 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 | 23,473,000 | ||||
Total | 25,441,000 | ||||
Accumulated Depreciation | (9,338,000) | ||||
Net | $ 16,103,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | 535 Brookwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 12,317,000 | ||||
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 | 20,058,000 | ||||
Total | 21,274,000 | ||||
Accumulated Depreciation | (5,264,000) | ||||
Net | $ 16,010,000 | ||||
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 | 9,618,000 | ||||
Total | 10,341,000 | ||||
Accumulated Depreciation | (6,383,000) | ||||
Net | $ 3,958,000 | ||||
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 | Charlotte at MIdtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,898,000 | ||||
Initial Cost Buildings and Fixtures | 54,480,000 | ||||
Gross Amount, Land | 7,898,000 | ||||
Gross Amount, Buildings and Fixtures | 54,965,000 | ||||
Total | 62,863,000 | ||||
Accumulated Depreciation | (1,174,000) | ||||
Net | $ 61,689,000 | ||||
Date of Construction | Dec. 31, 2016 | ||||
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 | 28,353,000 | ||||
Total | 31,153,000 | ||||
Accumulated Depreciation | (9,829,000) | ||||
Net | $ 21,324,000 | ||||
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 | 12,595,000 | ||||
Total | 14,698,000 | ||||
Accumulated Depreciation | (3,026,000) | ||||
Net | $ 11,672,000 | ||||
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 | 15,269,000 | ||||
Total | 16,400,000 | ||||
Accumulated Depreciation | (7,385,000) | ||||
Net | $ 9,015,000 | ||||
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 | 14,478,000 | ||||
Total | 15,450,000 | ||||
Accumulated Depreciation | (5,866,000) | ||||
Net | $ 9,584,000 | ||||
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 | 5,165,000 | ||||
Total | 5,382,000 | ||||
Accumulated Depreciation | (3,559,000) | ||||
Net | $ 1,823,000 | ||||
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 | 11,465,000 | ||||
Total | 12,282,000 | ||||
Accumulated Depreciation | (7,558,000) | ||||
Net | $ 4,724,000 | ||||
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 | 20,716,000 | ||||
Total | 21,864,000 | ||||
Accumulated Depreciation | (13,511,000) | ||||
Net | $ 8,353,000 | ||||
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 | 36,109,000 | ||||
Total | 37,607,000 | ||||
Accumulated Depreciation | (25,025,000) | ||||
Net | $ 12,582,000 | ||||
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 | 5,991,000 | ||||
Total | 6,169,000 | ||||
Accumulated Depreciation | (4,701,000) | ||||
Net | $ 1,468,000 | ||||
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 | 55,986,000 | ||||
Total | 59,393,000 | ||||
Accumulated Depreciation | (25,518,000) | ||||
Net | $ 33,875,000 | ||||
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 | 7,805,000 | ||||
Initial Cost Buildings and Fixtures | 48,843,000 | ||||
Gross Amount, Land | 7,805,000 | ||||
Gross Amount, Buildings and Fixtures | 49,615,000 | ||||
Total | 57,420,000 | ||||
Accumulated Depreciation | (2,516,000) | ||||
Net | $ 54,904,000 | ||||
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 | 4,653,000 | ||||
Initial Cost Buildings and Fixtures | 19,828,000 | ||||
Gross Amount, Land | 4,653,000 | ||||
Gross Amount, Buildings and Fixtures | 20,144,000 | ||||
Total | 24,797,000 | ||||
Accumulated Depreciation | (845,000) | ||||
Net | $ 23,952,000 | ||||
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 | 18,087,000 | ||||
Total | 19,002,000 | ||||
Accumulated Depreciation | (9,080,000) | ||||
Net | $ 9,922,000 | ||||
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 | 29,489,000 | ||||
Total | 34,439,000 | ||||
Accumulated Depreciation | (6,560,000) | ||||
Net | $ 27,879,000 | ||||
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 | $ 16,974,000 | ||||
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 | 24,757,000 | ||||
Total | 28,213,000 | ||||
Accumulated Depreciation | (6,530,000) | ||||
Net | $ 21,683,000 | ||||
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 | 17,175,000 | ||||
Total | 18,366,000 | ||||
Accumulated Depreciation | (11,551,000) | ||||
Net | $ 6,815,000 | ||||
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 | $ 20,500,000 | ||||
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 | 36,666,000 | ||||
Total | 45,288,000 | ||||
Accumulated Depreciation | (7,283,000) | ||||
Net | $ 38,005,000 | ||||
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 | 41,036,000 | ||||
Total | 43,999,000 | ||||
Accumulated Depreciation | (18,536,000) | ||||
Net | $ 25,463,000 | ||||
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 | 34,430,000 | ||||
Total | 37,166,000 | ||||
Accumulated Depreciation | (16,247,000) | ||||
Net | $ 20,919,000 | ||||
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 | 23,676,000 | ||||
Total | 25,200,000 | ||||
Accumulated Depreciation | (16,508,000) | ||||
Net | $ 8,692,000 | ||||
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 | 51,315,000 | ||||
Total | 57,985,000 | ||||
Accumulated Depreciation | (7,208,000) | ||||
Net | $ 50,777,000 | ||||
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] | $ 20,891,000 | |||
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 | 30,143,000 | ||||
Total | 33,493,000 | ||||
Accumulated Depreciation | (7,833,000) | ||||
Net | $ 25,660,000 | ||||
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 [Member] | Maximum | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Life used to compute depreciation in latest income statement | 40 years | ||||
Total Residential Properties | Northwood [Member] | 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 | 23,365,000 | ||||
Total | 24,963,000 | ||||
Accumulated Depreciation | (15,439,000) | ||||
Net | $ 9,524,000 | ||||
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 | $ 13,662,000 | ||||
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 | 33,658,000 | ||||
Total | 37,279,000 | ||||
Accumulated Depreciation | (6,430,000) | ||||
Net | $ 30,849,000 | ||||
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 | 22,061,000 | ||||
Total | 25,839,000 | ||||
Accumulated Depreciation | (4,653,000) | ||||
Net | $ 21,186,000 | ||||
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 | 2,711,000 | ||||
Initial Cost Buildings and Fixtures | 4,369,000 | ||||
Gross Amount, Land | 2,711,000 | ||||
Gross Amount, Buildings and Fixtures | 4,430,000 | ||||
Total | 7,141,000 | ||||
Accumulated Depreciation | (194,000) | ||||
Net | $ 6,947,000 | ||||
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 | 12,308,000 | ||||
Initial Cost Buildings and Fixtures | 189,419,000 | ||||
Gross Amount, Land | 12,308,000 | ||||
Gross Amount, Buildings and Fixtures | 191,653,000 | ||||
Total | 203,961,000 | ||||
Accumulated Depreciation | (8,081,000) | ||||
Net | 195,880,000 | ||||
Total Residential Properties | Post Cole's Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 13,030,000 | ||||
Initial Cost Buildings and Fixtures | 14,383,000 | ||||
Gross Amount, Land | 13,030,000 | ||||
Gross Amount, Buildings and Fixtures | 14,990,000 | ||||
Total | 28,020,000 | ||||
Accumulated Depreciation | (714,000) | ||||
Net | $ 27,306,000 | ||||
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 | 30,003,000 | ||||
Total | 33,134,000 | ||||
Accumulated Depreciation | (5,805,000) | ||||
Net | $ 27,329,000 | ||||
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 | 34,481,000 | ||||
Total | 39,383,000 | ||||
Accumulated Depreciation | (6,685,000) | ||||
Net | $ 32,698,000 | ||||
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 | 7,134,000 | ||||
Initial Cost Buildings and Fixtures | 58,095,000 | ||||
Gross Amount, Land | 7,134,000 | ||||
Gross Amount, Buildings and Fixtures | 58,366,000 | ||||
Total | 65,500,000 | ||||
Accumulated Depreciation | (2,721,000) | ||||
Net | $ 62,779,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Post Gallery [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 4,391,000 | ||||
Initial Cost Buildings and Fixtures | 7,910,000 | ||||
Gross Amount, Land | 4,391,000 | ||||
Gross Amount, Buildings and Fixtures | 8,261,000 | ||||
Total | 12,652,000 | ||||
Accumulated Depreciation | (431,000) | ||||
Net | $ 12,221,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Total Residential Properties | Post Heights [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 26,245,000 | ||||
Initial Cost Buildings and Fixtures | 37,922,000 | ||||
Gross Amount, Land | 26,245,000 | ||||
Gross Amount, Buildings and Fixtures | 38,278,000 | ||||
Total | 64,523,000 | ||||
Accumulated Depreciation | (1,753,000) | ||||
Net | 62,770,000 | ||||
Total Residential Properties | Post Katy Trail [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 10,333,000 | ||||
Initial Cost Buildings and Fixtures | 32,456,000 | ||||
Gross Amount, Land | 10,333,000 | ||||
Gross Amount, Buildings and Fixtures | 32,886,000 | ||||
Total | 43,219,000 | ||||
Accumulated Depreciation | (1,280,000) | ||||
Net | $ 41,939,000 | ||||
Date of Construction | Dec. 31, 2010 | ||||
Total Residential Properties | Post Legacy [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 6,575,000 | ||||
Initial Cost Buildings and Fixtures | 55,277,000 | ||||
Gross Amount, Land | 6,575,000 | ||||
Gross Amount, Buildings and Fixtures | 56,273,000 | ||||
Total | 62,848,000 | ||||
Accumulated Depreciation | (2,316,000) | ||||
Net | $ 60,532,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Post Meridian [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 8,780,000 | ||||
Initial Cost Buildings and Fixtures | 13,654,000 | ||||
Gross Amount, Land | 8,780,000 | ||||
Gross Amount, Buildings and Fixtures | 13,758,000 | ||||
Total | 22,538,000 | ||||
Accumulated Depreciation | (657,000) | ||||
Net | $ 21,881,000 | ||||
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 | 6,777,000 | ||||
Initial Cost Buildings and Fixtures | 32,553,000 | ||||
Gross Amount, Land | 6,777,000 | ||||
Gross Amount, Buildings and Fixtures | 32,807,000 | ||||
Total | 39,584,000 | ||||
Accumulated Depreciation | (1,692,000) | ||||
Net | $ 37,892,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Total Residential Properties | Post Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 13,178,000 | ||||
Initial Cost Buildings and Fixtures | 24,048,000 | ||||
Gross Amount, Land | 13,178,000 | ||||
Gross Amount, Buildings and Fixtures | 24,563,000 | ||||
Total | 37,741,000 | ||||
Accumulated Depreciation | (1,005,000) | ||||
Net | $ 36,736,000 | ||||
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 | 34,974,000 | ||||
Initial Cost Buildings and Fixtures | 33,213,000 | ||||
Gross Amount, Land | 34,974,000 | ||||
Gross Amount, Buildings and Fixtures | 35,230,000 | ||||
Total | 70,204,000 | ||||
Accumulated Depreciation | (1,543,000) | ||||
Net | 68,661,000 | ||||
Total Residential Properties | Post Vineyard [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 7,966,000 | ||||
Initial Cost Buildings and Fixtures | 7,471,000 | ||||
Gross Amount, Land | 7,966,000 | ||||
Gross Amount, Buildings and Fixtures | 7,816,000 | ||||
Total | 15,782,000 | ||||
Accumulated Depreciation | (332,000) | ||||
Net | $ 15,450,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Vintage [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 13,621,000 | ||||
Initial Cost Buildings and Fixtures | 8,608,000 | ||||
Gross Amount, Land | 13,621,000 | ||||
Gross Amount, Buildings and Fixtures | 8,884,000 | ||||
Total | 22,505,000 | ||||
Accumulated Depreciation | (414,000) | ||||
Net | $ 22,091,000 | ||||
Date of Construction | Dec. 31, 1993 | ||||
Total Residential Properties | Post Worthington [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 13,713,000 | ||||
Initial Cost Buildings and Fixtures | 43,268,000 | ||||
Gross Amount, Land | 13,713,000 | ||||
Gross Amount, Buildings and Fixtures | 43,708,000 | ||||
Total | 57,421,000 | ||||
Accumulated Depreciation | (1,841,000) | ||||
Net | 55,580,000 | ||||
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 | 14,859,000 | ||||
Total | 18,009,000 | ||||
Accumulated Depreciation | (6,730,000) | ||||
Net | $ 11,279,000 | ||||
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 | 39,916,000 | ||||
Total | 44,537,000 | ||||
Accumulated Depreciation | (8,254,000) | ||||
Net | $ 36,283,000 | ||||
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 | 33,638,000 | ||||
Total | 37,026,000 | ||||
Accumulated Depreciation | (6,078,000) | ||||
Net | $ 30,948,000 | ||||
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 | 49,167,000 | ||||
Total | 58,267,000 | ||||
Accumulated Depreciation | (9,860,000) | ||||
Net | $ 48,407,000 | ||||
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 | 11,542,000 | ||||
Initial Cost Buildings and Fixtures | 41,293,000 | ||||
Gross Amount, Land | 11,542,000 | ||||
Gross Amount, Buildings and Fixtures | 41,673,000 | ||||
Total | 53,215,000 | ||||
Accumulated Depreciation | (2,190,000) | ||||
Net | $ 51,025,000 | ||||
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 | 8,683,000 | ||||
Initial Cost Buildings and Fixtures | 21,497,000 | ||||
Gross Amount, Land | 8,683,000 | ||||
Gross Amount, Buildings and Fixtures | 22,105,000 | ||||
Total | 30,788,000 | ||||
Accumulated Depreciation | (1,043,000) | ||||
Net | $ 29,745,000 | ||||
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 | 27,741,000 | ||||
Total | 30,641,000 | ||||
Accumulated Depreciation | (11,160,000) | ||||
Net | $ 19,481,000 | ||||
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 | 15,682,000 | ||||
Total | 17,303,000 | ||||
Accumulated Depreciation | (9,736,000) | ||||
Net | $ 7,567,000 | ||||
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 | 13,732,000 | ||||
Total | 16,013,000 | ||||
Accumulated Depreciation | (8,652,000) | ||||
Net | $ 7,361,000 | ||||
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 | 20,917,000 | ||||
Total | 22,322,000 | ||||
Accumulated Depreciation | (9,518,000) | ||||
Net | $ 12,804,000 | ||||
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 | 30,293,000 | ||||
Total | 35,275,000 | ||||
Accumulated Depreciation | (6,180,000) | ||||
Net | $ 29,095,000 | ||||
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 | $ 22,424,000 | ||||
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 | 39,809,000 | ||||
Total | 42,918,000 | ||||
Accumulated Depreciation | (7,830,000) | ||||
Net | $ 35,088,000 | ||||
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 | 19,038,000 | ||||
Initial Cost Buildings and Fixtures | 89,570,000 | ||||
Gross Amount, Land | 19,038,000 | ||||
Gross Amount, Buildings and Fixtures | 90,276,000 | ||||
Total | 109,314,000 | ||||
Accumulated Depreciation | (4,086,000) | ||||
Net | 105,228,000 | ||||
Total Residential Properties | Post 510 [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 7,227,000 | ||||
Initial Cost Buildings and Fixtures | 33,366,000 | ||||
Gross Amount, Land | 7,227,000 | ||||
Gross Amount, Buildings and Fixtures | 33,548,000 | ||||
Total | 40,775,000 | ||||
Accumulated Depreciation | (1,632,000) | ||||
Net | $ 39,143,000 | ||||
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 | 43,287,000 | ||||
Total | 47,518,000 | ||||
Accumulated Depreciation | (7,470,000) | ||||
Net | $ 40,048,000 | ||||
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 | 26,053,000 | ||||
Total | 29,335,000 | ||||
Accumulated Depreciation | (4,926,000) | ||||
Net | $ 24,409,000 | ||||
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 | 33,194,000 | ||||
Total | 37,145,000 | ||||
Accumulated Depreciation | (6,140,000) | ||||
Net | $ 31,005,000 | ||||
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 | 63,538,000 | ||||
Total | 76,645,000 | ||||
Accumulated Depreciation | (2,447,000) | ||||
Net | $ 74,198,000 | ||||
Date of Construction | Dec. 31, 2015 | ||||
Total Residential Properties | Grand Cypress [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
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 | 25,382,000 | ||||
Total | 29,263,000 | ||||
Accumulated Depreciation | (3,587,000) | ||||
Net | $ 25,676,000 | ||||
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 | 12,557,000 | ||||
Total | 13,545,000 | ||||
Accumulated Depreciation | (8,061,000) | ||||
Net | $ 5,484,000 | ||||
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 | 16,060,000 | ||||
Total | 17,312,000 | ||||
Accumulated Depreciation | (10,211,000) | ||||
Net | $ 7,101,000 | ||||
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 | 25,294,000 | ||||
Total | 28,024,000 | ||||
Accumulated Depreciation | (10,396,000) | ||||
Net | $ 17,628,000 | ||||
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 | 43,277,000 | ||||
Total | 48,293,000 | ||||
Accumulated Depreciation | (9,655,000) | ||||
Net | $ 38,638,000 | ||||
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 | 35,610,000 | ||||
Total | 39,660,000 | ||||
Accumulated Depreciation | (5,855,000) | ||||
Net | $ 33,805,000 | ||||
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 | 17,173,000 | ||||
Total | 18,133,000 | ||||
Accumulated Depreciation | (7,909,000) | ||||
Net | $ 10,224,000 | ||||
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 | 32,474,000 | ||||
Total | 38,927,000 | ||||
Accumulated Depreciation | (6,868,000) | ||||
Net | $ 32,059,000 | ||||
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 | 35,811,000 | ||||
Total | 37,982,000 | ||||
Accumulated Depreciation | (6,128,000) | ||||
Net | $ 31,854,000 | ||||
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 | $ 0 | ||||
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 | 27,574,000 | ||||
Total | 30,814,000 | ||||
Accumulated Depreciation | (7,080,000) | ||||
Net | $ 23,734,000 | ||||
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 | 51,010,000 | ||||
Total | 59,278,000 | ||||
Accumulated Depreciation | (2,779,000) | ||||
Net | $ 56,499,000 | ||||
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 | 35,177,000 | ||||
Total | 37,145,000 | ||||
Accumulated Depreciation | (5,929,000) | ||||
Net | $ 31,216,000 | ||||
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 | 34,422,000 | ||||
Total | 36,773,000 | ||||
Accumulated Depreciation | (6,590,000) | ||||
Net | $ 30,183,000 | ||||
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 | 23,753,000 | ||||
Total | 27,218,000 | ||||
Accumulated Depreciation | (3,996,000) | ||||
Net | $ 23,222,000 | ||||
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 | 22,691,000 | ||||
Total | 24,833,000 | ||||
Accumulated Depreciation | (11,275,000) | ||||
Net | $ 13,558,000 | ||||
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 | 18,956,000 | ||||
Total | 21,017,000 | ||||
Accumulated Depreciation | (7,396,000) | ||||
Net | $ 13,621,000 | ||||
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 | 17,244,000 | ||||
Total | 18,724,000 | ||||
Accumulated Depreciation | (6,546,000) | ||||
Net | $ 12,178,000 | ||||
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 | 41,056,000 | ||||
Total | 49,267,000 | ||||
Accumulated Depreciation | (3,295,000) | ||||
Net | $ 45,972,000 | ||||
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 | 42,260,000 | ||||
Total | 48,245,000 | ||||
Accumulated Depreciation | (15,069,000) | ||||
Net | $ 33,176,000 | ||||
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 | 28,660,000 | ||||
Total | 31,181,000 | ||||
Accumulated Depreciation | (7,073,000) | ||||
Net | $ 24,108,000 | ||||
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 | 32,081,000 | ||||
Total | 36,471,000 | ||||
Accumulated Depreciation | (5,714,000) | ||||
Net | $ 30,757,000 | ||||
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 | 42,080,000 | ||||
Total | 45,982,000 | ||||
Accumulated Depreciation | (7,052,000) | ||||
Net | $ 38,930,000 | ||||
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 | $ 23,246,000 | ||||
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 | 47,956,000 | ||||
Total | 53,028,000 | ||||
Accumulated Depreciation | (9,148,000) | ||||
Net | $ 43,880,000 | ||||
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 | 32,016,000 | ||||
Total | 37,614,000 | ||||
Accumulated Depreciation | (6,326,000) | ||||
Net | $ 31,288,000 | ||||
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 | 32,004,000 | ||||
Total | 33,134,000 | ||||
Accumulated Depreciation | (8,610,000) | ||||
Net | $ 24,524,000 | ||||
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 | 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 | 2,000 | ||||
Total | 2,002,000 | ||||
Accumulated Depreciation | (1,000) | ||||
Net | $ 2,001,000 | ||||
Date of Construction | Dec. 31, 2017 | ||||
Total Residential 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 | 36,696,000 | ||||
Total | 39,896,000 | ||||
Accumulated Depreciation | (982,000) | ||||
Net | $ 38,914,000 | ||||
Date of Construction | Dec. 31, 2017 | ||||
Total Residential Properties | Post Parkside at Wade II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 2017 | ||||
Total Residential Properties | Post Afton Oaks [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 11,503,000 | ||||
Initial Cost Buildings and Fixtures | 65,469,000 | ||||
Gross Amount, Land | 11,503,000 | ||||
Gross Amount, Buildings and Fixtures | 68,840,000 | ||||
Total | 80,343,000 | ||||
Accumulated Depreciation | (3,332,000) | ||||
Net | $ 77,011,000 | ||||
Date of Construction | Dec. 31, 2017 | ||||
Total Residential 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 | 52,152,000 | ||||
Total | 61,152,000 | ||||
Accumulated Depreciation | (632,000) | ||||
Net | $ 60,520,000 | ||||
Date of Construction | Dec. 31, 2017 | ||||
Total Residential 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 | 83,542,000 | ||||
Total | 90,542,000 | ||||
Accumulated Depreciation | (1,008,000) | ||||
Net | $ 89,534,000 | ||||
Date of Construction | Dec. 31, 2017 | ||||
Total Residential 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 | 23,932,000 | ||||
Total | 24,702,000 | ||||
Accumulated Depreciation | (112,000) | ||||
Net | $ 24,590,000 | ||||
Date of Construction | Dec. 31, 2017 | ||||
Total Residential Properties | Venue at Stonebridge Ranch [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
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 | 20,420,000 | ||||
Total | 24,454,000 | ||||
Accumulated Depreciation | (2,929,000) | ||||
Net | $ 21,525,000 | ||||
Date of Construction | Dec. 31, 2000 | ||||
Total Residential Properties | Venue at Stonebridge Ranch [Member] | 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 [Member] | 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 | 11,207,000 | ||||
Total | 12,071,000 | ||||
Accumulated Depreciation | (7,131,000) | ||||
Net | $ 4,940,000 | ||||
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 | 61,319,000 | ||||
Total | 69,945,000 | ||||
Accumulated Depreciation | (5,746,000) | ||||
Net | $ 64,199,000 | ||||
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 | 33,004,000 | ||||
Total | 36,386,000 | ||||
Accumulated Depreciation | (14,140,000) | ||||
Net | $ 22,246,000 | ||||
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 | 21,641,000 | ||||
Total | 25,807,000 | ||||
Accumulated Depreciation | (5,222,000) | ||||
Net | $ 20,585,000 | ||||
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 | 38,116,000 | ||||
Total | 43,627,000 | ||||
Accumulated Depreciation | (7,149,000) | ||||
Net | $ 36,478,000 | ||||
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 | 47,349,000 | ||||
Total | 52,040,000 | ||||
Accumulated Depreciation | (8,687,000) | ||||
Net | $ 43,353,000 | ||||
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 | 50,730,000 | ||||
Total | 61,720,000 | ||||
Accumulated Depreciation | (3,467,000) | ||||
Net | $ 58,253,000 | ||||
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 | 15,616,000 | ||||
Total | 19,861,000 | ||||
Accumulated Depreciation | (724,000) | ||||
Net | $ 19,137,000 | ||||
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 | 19,646,000 | ||||
Total | 22,207,000 | ||||
Accumulated Depreciation | (3,973,000) | ||||
Net | $ 18,234,000 | ||||
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 | 29,478,000 | ||||
Total | 31,858,000 | ||||
Accumulated Depreciation | (7,349,000) | ||||
Net | $ 24,509,000 | ||||
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 | 48,610,000 | ||||
Total | 54,060,000 | ||||
Accumulated Depreciation | (9,271,000) | ||||
Net | $ 44,789,000 | ||||
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 | $ 17,874,000 | ||||
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 | 27,479,000 | ||||
Total | 31,479,000 | ||||
Accumulated Depreciation | (7,802,000) | ||||
Net | $ 23,677,000 | ||||
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 | 37,826,000 | ||||
Total | 42,083,000 | ||||
Accumulated Depreciation | (3,193,000) | ||||
Net | $ 38,890,000 | ||||
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 | 8,495,000 | ||||
Total | 9,071,000 | ||||
Accumulated Depreciation | (5,839,000) | ||||
Net | $ 3,232,000 | ||||
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 | 18,703,000 | ||||
Total | 20,621,000 | ||||
Accumulated Depreciation | (8,500,000) | ||||
Net | $ 12,121,000 | ||||
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 | 8,285,000 | ||||
Total | 8,824,000 | ||||
Accumulated Depreciation | (5,787,000) | ||||
Net | $ 3,037,000 | ||||
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 | 37,342,000 | ||||
Total | 44,454,000 | ||||
Accumulated Depreciation | (2,534,000) | ||||
Net | $ 41,920,000 | ||||
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 | 34,176,000 | ||||
Total | 39,456,000 | ||||
Accumulated Depreciation | (7,059,000) | ||||
Net | $ 32,397,000 | ||||
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 | 23,011,000 | ||||
Total | 27,853,000 | ||||
Accumulated Depreciation | (4,043,000) | ||||
Net | $ 23,810,000 | ||||
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 | 38,177,000 | ||||
Total | 43,217,000 | ||||
Accumulated Depreciation | (2,473,000) | ||||
Net | $ 40,744,000 | ||||
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 | 71,120,000 | ||||
Total | 85,610,000 | ||||
Accumulated Depreciation | (11,022,000) | ||||
Net | $ 74,588,000 | ||||
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 | 29,728,000 | ||||
Initial Cost Buildings and Fixtures | 154,309,000 | ||||
Gross Amount, Land | 29,728,000 | ||||
Gross Amount, Buildings and Fixtures | 154,865,000 | ||||
Total | 184,593,000 | ||||
Accumulated Depreciation | (6,333,000) | ||||
Net | 178,260,000 | ||||
Total Residential Properties | Post Corners at Trinity Centre [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 36,946,000 | ||||
Initial Cost Land | 7,664,000 | ||||
Initial Cost Buildings and Fixtures | 70,012,000 | ||||
Gross Amount, Land | 7,664,000 | ||||
Gross Amount, Buildings and Fixtures | 70,934,000 | ||||
Total | 78,598,000 | ||||
Accumulated Depreciation | (2,875,000) | ||||
Net | $ 75,723,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Fallsgrove [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 17,524,000 | ||||
Initial Cost Buildings and Fixtures | 58,896,000 | ||||
Gross Amount, Land | 17,524,000 | ||||
Gross Amount, Buildings and Fixtures | 59,555,000 | ||||
Total | 77,079,000 | ||||
Accumulated Depreciation | (2,528,000) | ||||
Net | $ 74,551,000 | ||||
Date of Construction | Dec. 31, 2003 | ||||
Total Residential Properties | Post Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 5,355,000 | ||||
Initial Cost Buildings and Fixtures | 79,842,000 | ||||
Gross Amount, Land | 5,355,000 | ||||
Gross Amount, Buildings and Fixtures | 80,208,000 | ||||
Total | 85,563,000 | ||||
Accumulated Depreciation | (4,293,000) | ||||
Net | $ 81,270,000 | ||||
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 | 30,452,000 | ||||
Initial Cost Buildings and Fixtures | 125,091,000 | ||||
Gross Amount, Land | 30,452,000 | ||||
Gross Amount, Buildings and Fixtures | 126,273,000 | ||||
Total | 156,725,000 | ||||
Accumulated Depreciation | (5,352,000) | ||||
Net | $ 151,373,000 | ||||
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 | 30,776,000 | ||||
Initial Cost Buildings and Fixtures | 82,021,000 | ||||
Gross Amount, Land | 30,776,000 | ||||
Gross Amount, Buildings and Fixtures | 82,840,000 | ||||
Total | 113,616,000 | ||||
Accumulated Depreciation | (3,427,000) | ||||
Net | $ 110,189,000 | ||||
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 | 37,228,000 | ||||
Total | 48,272,000 | ||||
Accumulated Depreciation | (3,479,000) | ||||
Net | $ 44,793,000 | ||||
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 | 36,369,000 | ||||
Total | 44,949,000 | ||||
Accumulated Depreciation | (4,370,000) | ||||
Net | $ 40,579,000 | ||||
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 | 23,780,000 | ||||
Total | 28,631,000 | ||||
Accumulated Depreciation | (4,448,000) | ||||
Net | $ 24,183,000 | ||||
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 | 21,396,000 | ||||
Total | 26,057,000 | ||||
Accumulated Depreciation | (3,874,000) | ||||
Net | $ 22,183,000 | ||||
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 | 16,266,000 | ||||
Total | 17,775,000 | ||||
Accumulated Depreciation | (10,055,000) | ||||
Net | $ 7,720,000 | ||||
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 | 32,525,000 | ||||
Total | 39,258,000 | ||||
Accumulated Depreciation | (6,355,000) | ||||
Net | $ 32,903,000 | ||||
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 | 14,992,000 | ||||
Total | 19,753,000 | ||||
Accumulated Depreciation | (3,292,000) | ||||
Net | $ 16,461,000 | ||||
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 | 31,906,000 | ||||
Total | 37,927,000 | ||||
Accumulated Depreciation | (6,098,000) | ||||
Net | $ 31,829,000 | ||||
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 | 39,171,000 | ||||
Total | 44,101,000 | ||||
Accumulated Depreciation | (9,201,000) | ||||
Net | $ 34,900,000 | ||||
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 | 61,196,000 | ||||
Total | 66,855,000 | ||||
Accumulated Depreciation | (6,052,000) | ||||
Net | $ 60,803,000 | ||||
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 | 18,101,000 | ||||
Initial Cost Buildings and Fixtures | 144,200,000 | ||||
Gross Amount, Land | 18,101,000 | ||||
Gross Amount, Buildings and Fixtures | 144,696,000 | ||||
Total | 162,797,000 | ||||
Accumulated Depreciation | (6,212,000) | ||||
Net | $ 156,585,000 | ||||
Date of Construction | Dec. 31, 2011 | ||||
Total Residential Properties | Post Lakeside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 7,046,000 | ||||
Initial Cost Buildings and Fixtures | 52,585,000 | ||||
Gross Amount, Land | 7,046,000 | ||||
Gross Amount, Buildings and Fixtures | 52,751,000 | ||||
Total | 59,797,000 | ||||
Accumulated Depreciation | (2,097,000) | ||||
Net | $ 57,700,000 | ||||
Date of Construction | Dec. 31, 2013 | ||||
Total Residential Properties | Post Parkside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 11,025,000 | ||||
Initial Cost Buildings and Fixtures | 34,277,000 | ||||
Gross Amount, Land | 11,025,000 | ||||
Gross Amount, Buildings and Fixtures | 34,559,000 | ||||
Total | 45,584,000 | ||||
Accumulated Depreciation | (1,359,000) | ||||
Net | $ 44,225,000 | ||||
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 | 11,974,000 | ||||
Initial Cost Buildings and Fixtures | 55,264,000 | ||||
Gross Amount, Land | 11,974,000 | ||||
Gross Amount, Buildings and Fixtures | 55,432,000 | ||||
Total | 67,406,000 | ||||
Accumulated Depreciation | (2,252,000) | ||||
Net | 65,154,000 | ||||
Total Residential Properties | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 23,765,000 | ||||
Initial Cost Buildings and Fixtures | 89,369,000 | ||||
Gross Amount, Land | 23,765,000 | ||||
Gross Amount, Buildings and Fixtures | 91,154,000 | ||||
Total | 114,919,000 | ||||
Accumulated Depreciation | (4,224,000) | ||||
Net | $ 110,695,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Total Residential Properties | Post Spring [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 18,596,000 | ||||
Initial Cost Buildings and Fixtures | 57,819,000 | ||||
Gross Amount, Land | 18,596,000 | ||||
Gross Amount, Buildings and Fixtures | 58,793,000 | ||||
Total | 77,389,000 | ||||
Accumulated Depreciation | (2,652,000) | ||||
Net | $ 74,737,000 | ||||
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 | 30,051,000 | ||||
Gross Amount, Land | 0 | ||||
Gross Amount, Buildings and Fixtures | 31,122,000 | ||||
Total | 31,122,000 | ||||
Accumulated Depreciation | (1,374,000) | ||||
Net | $ 29,748,000 | ||||
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 | 31,610,000 | ||||
Total | 36,921,000 | ||||
Accumulated Depreciation | (5,693,000) | ||||
Net | $ 31,228,000 | ||||
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 | 8,654,000 | ||||
Gross Amount, Buildings and Fixtures | 30,046,000 | ||||
Total | 38,700,000 | ||||
Accumulated Depreciation | (2,049,000) | ||||
Net | $ 36,651,000 | ||||
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 | 41,169,000 | ||||
Total | 43,669,000 | ||||
Accumulated Depreciation | (2,388,000) | ||||
Net | $ 41,281,000 | ||||
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 | 11,706,000 | ||||
Total | 15,337,000 | ||||
Accumulated Depreciation | (409,000) | ||||
Net | $ 14,928,000 | ||||
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 | 34,597,000 | ||||
Total | 37,847,000 | ||||
Accumulated Depreciation | (6,630,000) | ||||
Net | $ 31,217,000 | ||||
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 | 18,137,000 | ||||
Total | 19,757,000 | ||||
Accumulated Depreciation | (3,229,000) | ||||
Net | $ 16,528,000 | ||||
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 | 55,647,000 | ||||
Total | 60,275,000 | ||||
Accumulated Depreciation | (5,287,000) | ||||
Net | $ 54,988,000 | ||||
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 | 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 | 12,082,000 | ||||
Total | 15,082,000 | ||||
Accumulated Depreciation | (254,000) | ||||
Net | $ 14,828,000 | ||||
Date of Construction | Dec. 31, 2017 | ||||
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 | 30,520,000 | ||||
Total | 34,130,000 | ||||
Accumulated Depreciation | (5,807,000) | ||||
Net | $ 28,323,000 | ||||
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 | 26,938,000 | ||||
Total | 30,909,000 | ||||
Accumulated Depreciation | (5,047,000) | ||||
Net | $ 25,862,000 | ||||
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 | Colonial Grand at Commerce Park (Charleston, SC) [Member] | |||||
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 | 35,562,000 | ||||
Total | 38,342,000 | ||||
Accumulated Depreciation | (6,498,000) | ||||
Net | $ 31,844,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Total Residential Properties | Colonial Grand at Commerce Park (Charleston, SC) [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 Commerce Park (Charleston, SC) [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 | $ 5,145,000 | ||||
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 | Colonial Village at Windsor Place [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 | Howell Commons [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 | Park Haywood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 35,000 | ||||
Total Residential Properties | Land | Spring Creek [Member] | |||||
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 | Runaway Bay [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 12,000 | ||||
Total Residential Properties | Land | Acklen West End [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 | 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 [Member] | |||||
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 | 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 | 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 | 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 | Woodwinds [Member] | |||||
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 | Charlotte at MIdtown [Member] | |||||
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 | 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 | Colonial Grand at Randal Lakes II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Afton Oaks [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post South Lamar II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Post Millennium Midtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | The Denton II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Total Residential Properties | Land | Venue at Stonebridge Ranch [Member] | |||||
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 | (2,000) | ||||
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 | Retreat at West Creek II [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 | Land | Colonial Grand at Commerce Park (Charleston, SC) [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 | 1,258,299,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Quarterdeck [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,458,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Westchase [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,714,000 | ||||
Total Residential Properties | Buildings and Fixtures | River's Walk [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 487,000 | ||||
Total Residential Properties | Buildings and Fixtures | 1201 Midtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 470,000 | ||||
Total Residential Properties | Buildings and Fixtures | Fairways [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,396,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Columbia [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,623,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Windsor Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,437,000 | ||||
Total Residential Properties | Buildings and Fixtures | Highland Ridge [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,720,000 | ||||
Total Residential Properties | Buildings and Fixtures | Howell Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,554,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Greenville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,003,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park Haywood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,513,000 | ||||
Total Residential Properties | Buildings and Fixtures | Spring Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,034,000 | ||||
Total Residential Properties | Buildings and Fixtures | Innovation Apartment Homes [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 998,000 | ||||
Total Residential Properties | Buildings and Fixtures | Runaway Bay [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,362,000 | ||||
Total Residential Properties | Buildings and Fixtures | Acklen West End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 22,000 | ||||
Total Residential Properties | Buildings and Fixtures | Tanglewood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,119,000 | ||||
Total Residential Properties | Buildings and Fixtures | Birchall at Ross Bridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,254,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Riverchase Trails | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,261,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Trussville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,284,000 | ||||
Total Residential Properties | Buildings and Fixtures | Eagle Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,896,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Traditions | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,106,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Edgewater | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,291,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Huntsville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 13,817,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Madison | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,413,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cypress Village at Cypress Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,588,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Liberty Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,564,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at OldTown Scottsdale [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,414,000 | ||||
Total Residential Properties | Buildings and Fixtures | Calais Forest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,741,000 | ||||
Total Residential Properties | Buildings and Fixtures | SkySong [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,176,000 | ||||
Total Residential Properties | Buildings and Fixtures | Napa Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,361,000 | ||||
Total Residential Properties | Buildings and Fixtures | Palisades At Chenal Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,395,000 | ||||
Total Residential Properties | Buildings and Fixtures | Ridge at Chenal Valley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 27,537,000 | ||||
Total Residential Properties | Buildings and Fixtures | Westside Creek I & II | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,285,000 | ||||
Total Residential Properties | Buildings and Fixtures | Edge at Lyon's Gate | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,355,000 | ||||
Total Residential Properties | Buildings and Fixtures | Residences at Fountainhead [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 797,000 | ||||
Total Residential Properties | Buildings and Fixtures | Sky View Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,179,000 | ||||
Total Residential Properties | Buildings and Fixtures | Talus Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,758,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Inverness Commons | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,409,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Scottsdale | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,934,000 | ||||
Total Residential Properties | Buildings and Fixtures | Tiffany Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,389,000 | ||||
Total Residential Properties | Buildings and Fixtures | Indigo Point | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,514,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Brandon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,192,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Lakewood Ranch [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,072,000 | ||||
Total Residential Properties | Buildings and Fixtures | Preserve at Coral Square | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 9,175,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Gainesville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,689,000 | ||||
Total Residential Properties | Buildings and Fixtures | The Retreat at Magnolia Parke | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 745,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Heathrow | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,667,000 | ||||
Total Residential Properties | Buildings and Fixtures | Atlantic Crossing | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,546,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cooper's Hawk | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,494,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hunter's Ridge at Deerwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,369,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lakeside | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,093,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lighthouse at Fleming Island | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,170,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Mandarin | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,924,000 | ||||
Total Residential Properties | Buildings and Fixtures | St Augustine | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 19,684,000 | ||||
Total Residential Properties | Buildings and Fixtures | St Augustine II | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,000 | ||||
Total Residential Properties | Buildings and Fixtures | Tattersall at Tapestry Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,056,000 | ||||
Total Residential Properties | Buildings and Fixtures | Woodhollow | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,795,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Lake Mary | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 23,107,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Town Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,455,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Town Park Reserve | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 353,000 | ||||
Total Residential Properties | Buildings and Fixtures | Retreat at Lake Nona | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,708,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Heather Glen | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,428,000 | ||||
Total Residential Properties | Buildings and Fixtures | The Club at Panama Beach | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,952,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Twin Lakes | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,777,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Tallahassee | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 14,458,000 | ||||
Total Residential Properties | Buildings and Fixtures | Verandas at Southwood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 731,000 | ||||
Total Residential Properties | Buildings and Fixtures | Belmere | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,725,000 | ||||
Total Residential Properties | Buildings and Fixtures | Village Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,334,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Hampton Preserve | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,264,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Seven Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,879,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Windermere | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,023,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park Crest At Innisbrook | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,229,000 | ||||
Total Residential Properties | Buildings and Fixtures | Allure at Brookwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,313,000 | ||||
Total Residential Properties | Buildings and Fixtures | Allure in Buckhead Village Residential | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,931,000 | ||||
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 | 157,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Alexander [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 887,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Briarcliff [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,142,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Brookhaven [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,519,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Chastain [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 578,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Crossing [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 812,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Gardens [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 894,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Glen [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 889,000 | ||||
Total Residential Properties | Buildings and Fixtures | Sanctuary At Oglethorpe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,089,000 | ||||
Total Residential Properties | Buildings and Fixtures | Prescott | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,801,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Berkeley Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,690,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lake Lanier Club I [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,243,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at River Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,647,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lake Lanier Club II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,369,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at River Plantation | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,789,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at McDaniel Farm | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,419,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Pleasant Hill | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,538,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Mount Vernon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,898,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Shiloh | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,323,000 | ||||
Total Residential Properties | Buildings and Fixtures | Milstead Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 793,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Barrett Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,565,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Godley Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,764,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Godley Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,030,000 | ||||
Total Residential Properties | Buildings and Fixtures | Avala at Savannah Quarters | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,854,000 | ||||
Total Residential Properties | Buildings and Fixtures | Georgetown Grove | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,332,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Hammocks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,623,000 | ||||
Total Residential Properties | Buildings and Fixtures | Haven at Prairie Trace [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,037,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Greentree | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,268,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Huntington | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 905,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Marsh Cove | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 902,000 | ||||
Total Residential Properties | Buildings and Fixtures | Oaks at Wilmington Island | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,169,000 | ||||
Total Residential Properties | Buildings and Fixtures | Highlands of West Village I [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,354,000 | ||||
Total Residential Properties | Buildings and Fixtures | Highlands of West Village II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 75,000 | ||||
Total Residential Properties | Buildings and Fixtures | Residences at Burlington Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 767,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lakepointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,523,000 | ||||
Total Residential Properties | Buildings and Fixtures | The Denton [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 339,000 | ||||
Total Residential Properties | Buildings and Fixtures | Mansion [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,619,000 | ||||
Total Residential Properties | Buildings and Fixtures | Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,625,000 | ||||
Total Residential Properties | Buildings and Fixtures | Stonemill Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 9,404,000 | ||||
Total Residential Properties | Buildings and Fixtures | Crosswinds [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,097,000 | ||||
Total Residential Properties | Buildings and Fixtures | Pear Orchard [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,521,000 | ||||
Total Residential Properties | Buildings and Fixtures | Reflection Pointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,575,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lakeshore Landing [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,232,000 | ||||
Total Residential Properties | Buildings and Fixtures | Market Station [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,934,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Desert Vista [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,276,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Palm Vista [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,308,000 | ||||
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 | 1,496,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hermitage at Beechtree | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,798,000 | ||||
Total Residential Properties | Buildings and Fixtures | Waterford Forest | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,518,000 | ||||
Total Residential Properties | Buildings and Fixtures | 1225 South Church I | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 28,236,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Ayrsley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 13,417,000 | ||||
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 | 2,515,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Legacy Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,944,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Mallard Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,407,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at South Tryon | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,623,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Timber Crest [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,073,000 | ||||
Total Residential Properties | Buildings and Fixtures | Enclave [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 935,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Ballantyne [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 998,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Gateway Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,487,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Park at Phillips Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,524,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Parkside at Wade [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 207,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Parkside Orlando [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 665,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post South End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 815,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Uptown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 779,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Cornelius [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,128,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Patterson Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,318,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Deerfield [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,193,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Research Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,951,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Huntersville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,931,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Matthews [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,142,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Matthews Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,917,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Arringdon [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,313,000 | ||||
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 | 1,931,000 | ||||
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 | 1,428,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Crabtree Valley [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,381,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hue [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,324,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Trinity Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,447,000 | ||||
Total Residential Properties | Buildings and Fixtures | Preserve At Brier Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 24,756,000 | ||||
Total Residential Properties | Buildings and Fixtures | Providence At Brier Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,684,000 | ||||
Total Residential Properties | Buildings and Fixtures | Woodwinds [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,545,000 | ||||
Total Residential Properties | Buildings and Fixtures | 535 Brookwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,392,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park Place | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,114,000 | ||||
Total Residential Properties | Buildings and Fixtures | Charlotte at MIdtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 485,000 | ||||
Total Residential Properties | Buildings and Fixtures | Farmington Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,058,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Waters Edge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,408,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hamilton Pointe | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,637,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hidden Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,524,000 | ||||
Total Residential Properties | Buildings and Fixtures | Steeplechase | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,208,000 | ||||
Total Residential Properties | Buildings and Fixtures | Windridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,049,000 | ||||
Total Residential Properties | Buildings and Fixtures | Kirby Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 10,379,000 | ||||
Total Residential Properties | Buildings and Fixtures | Lincoln on the Green | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 15,626,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park Estate | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,850,000 | ||||
Total Residential Properties | Buildings and Fixtures | Reserve at Dexter Lake | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 39,943,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post West Austin [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 772,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Park Mesa [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 316,000 | ||||
Total Residential Properties | Buildings and Fixtures | Paddock Club Murfreesboro | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,313,000 | ||||
Total Residential Properties | Buildings and Fixtures | Aventura at Indian Lake Village | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,436,000 | ||||
Total Residential Properties | Buildings and Fixtures | Avondale at Kennesaw | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,314,000 | ||||
Total Residential Properties | Buildings and Fixtures | Brentwood Downs | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,436,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Bellevue | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,437,000 | ||||
Total Residential Properties | Buildings and Fixtures | Grand View Nashville | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,363,000 | ||||
Total Residential Properties | Buildings and Fixtures | Monthaven Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,528,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park at Hermitage | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,876,000 | ||||
Total Residential Properties | Buildings and Fixtures | Venue at Cool Springs | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 51,315,000 | ||||
Total Residential Properties | Buildings and Fixtures | Verandas at Sam Ridley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,835,000 | ||||
Total Residential Properties | Buildings and Fixtures | Balcones Woods | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,967,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Canyon Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,521,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Canyon Pointe | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,860,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Abbey [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 61,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,234,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Cole's Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 607,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Double Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 628,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Onion Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,471,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Eastside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 271,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Gallery [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 351,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Heights [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 356,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Katy Trail [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 430,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Legacy [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 996,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Meridian [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 104,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Sierra at Frisco Bridges [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 254,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 515,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Uptown Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,017,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Vineyard [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 345,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Vintage [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 276,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Worthington [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 440,000 | ||||
Total Residential Properties | Buildings and Fixtures | Grand Reserve at Sunset Valley | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,466,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Quarry Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,455,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Wells Branch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,355,000 | ||||
Total Residential Properties | Buildings and Fixtures | Legacy at Western Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | (172,000) | ||||
Total Residential Properties | Buildings and Fixtures | Post South Lamar [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 380,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Barton Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 608,000 | ||||
Total Residential Properties | Buildings and Fixtures | Silverado | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,732,000 | ||||
Total Residential Properties | Buildings and Fixtures | Stassney Woods | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,181,000 | ||||
Total Residential Properties | Buildings and Fixtures | Travis Station | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 7,563,000 | ||||
Total Residential Properties | Buildings and Fixtures | Woods, The | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,148,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Shoal Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,916,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Willow Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,321,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Midtown Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 706,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post 510 [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 182,000 | ||||
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 | 1,050,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Silverado [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,118,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Silverado Reserve [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,489,000 | ||||
Total Residential Properties | Buildings and Fixtures | Yale at 6th [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 774,000 | ||||
Total Residential Properties | Buildings and Fixtures | Grand Cypress [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,115,000 | ||||
Total Residential Properties | Buildings and Fixtures | Courtyards at Campbell | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,664,000 | ||||
Total Residential Properties | Buildings and Fixtures | Deer Run | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,789,000 | ||||
Total Residential Properties | Buildings and Fixtures | Grand Courtyard | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,054,000 | ||||
Total Residential Properties | Buildings and Fixtures | Legends at Lowe's Farm | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,186,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Reserve at Medical District | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,831,000 | ||||
Total Residential Properties | Buildings and Fixtures | Watermark | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,735,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Bear Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,426,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Fairview | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 734,000 | ||||
Total Residential Properties | Buildings and Fixtures | La Valencia At Starwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,505,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cityscape at Market Center II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 712,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Reserve at Frisco Bridges | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,159,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Grapevine | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,665,000 | ||||
Total Residential Properties | Buildings and Fixtures | Greenwood Forest | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 271,000 | ||||
Total Residential Properties | Buildings and Fixtures | Legacy Pines | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,625,000 | ||||
Total Residential Properties | Buildings and Fixtures | Park Place (Houston) | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,126,000 | ||||
Total Residential Properties | Buildings and Fixtures | Ranchstone | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,437,000 | ||||
Total Residential Properties | Buildings and Fixtures | Retreat at Vintage Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 704,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cascade at Fall Creek | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,249,000 | ||||
Total Residential Properties | Buildings and Fixtures | Bella Casita at Las Colinas | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,228,000 | ||||
Total Residential Properties | Buildings and Fixtures | Remington Hills | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 10,259,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Reserve at Las Colinas | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,389,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Valley Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 10,559,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Oakbend | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,400,000 | ||||
Total Residential Properties | Buildings and Fixtures | Times Square at Craig Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,946,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Promenade Huntsville [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Randal Lakes II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 36,696,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Afton Oaks [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,371,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post South Lamar II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 19,352,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Millennium Midtown [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 39,542,000 | ||||
Total Residential Properties | Buildings and Fixtures | The Denton II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 23,932,000 | ||||
Total Residential Properties | Buildings and Fixtures | Venue at Stonebridge Ranch [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 892,000 | ||||
Total Residential Properties | Buildings and Fixtures | Highwood | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,424,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cityscape at Market Center [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 912,000 | ||||
Total Residential Properties | Buildings and Fixtures | Los Rios Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,093,000 | ||||
Total Residential Properties | Buildings and Fixtures | Boulder Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,074,000 | ||||
Total Residential Properties | Buildings and Fixtures | Copper Ridge | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 21,641,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Ashton Oaks | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,875,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Round Rock | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,970,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cobblestone Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,034,000 | ||||
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 | 238,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Sierra Vista | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,158,000 | ||||
Total Residential Properties | Buildings and Fixtures | Alamo Ranch | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,496,000 | ||||
Total Residential Properties | Buildings and Fixtures | Haven at Blanco | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,652,000 | ||||
Total Residential Properties | Buildings and Fixtures | Stone Ranch at Westover Hills | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,487,000 | ||||
Total Residential Properties | Buildings and Fixtures | Bulverde Oaks [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,067,000 | ||||
Total Residential Properties | Buildings and Fixtures | Cypresswood Court | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,305,000 | ||||
Total Residential Properties | Buildings and Fixtures | Villages At Kirkwood [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,857,000 | ||||
Total Residential Properties | Buildings and Fixtures | Green Tree Place | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,435,000 | ||||
Total Residential Properties | Buildings and Fixtures | Retreat at West Creek [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,206,000 | ||||
Total Residential Properties | Buildings and Fixtures | Adalay Bay | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,835,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Greenbrier | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,334,000 | ||||
Total Residential Properties | Buildings and Fixtures | Radius [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,696,000 | ||||
Total Residential Properties | Buildings and Fixtures | Seasons at Celebrate Virginia | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 39,037,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Carlyle Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 556,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Corners at Trinity Centre [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 922,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Fallsgrove [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 659,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 366,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Pentagon Row [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,182,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Tysons Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 819,000 | ||||
Total Residential Properties | Buildings and Fixtures | Stonefield Commons [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 539,000 | ||||
Total Residential Properties | Buildings and Fixtures | Station Square at Cosner's Corner | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 669,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Hampton Glen | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,102,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at West End | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,488,000 | ||||
Total Residential Properties | Buildings and Fixtures | Township | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 8,077,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Waterford | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,304,000 | ||||
Total Residential Properties | Buildings and Fixtures | Ashley Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,627,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Chase Gayton | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,902,000 | ||||
Total Residential Properties | Buildings and Fixtures | Hamptons at Hunton Park | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,573,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Randal Lakes | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 10,643,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Lake at Baldwin Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 496,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Lakeside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 166,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Parkside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 282,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Peachtree Hills [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 168,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,785,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Spring [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 974,000 | ||||
Total Residential Properties | Buildings and Fixtures | Post Stratford [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,071,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Chancellor Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,594,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Bellevue (Phase II) | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 79,000 | ||||
Total Residential Properties | Buildings and Fixtures | 220 Riverside | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,753,000 | ||||
Total Residential Properties | Buildings and Fixtures | River's Walk II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 958,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Mallard Lake [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,208,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at University Center [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 638,000 | ||||
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 | 11,365,000 | ||||
Total Residential Properties | Buildings and Fixtures | Retreat at West Creek II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 12,082,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Cypress Cove [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,875,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Village at Hampton Pointe [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 4,148,000 | ||||
Total Residential Properties | Buildings and Fixtures | Colonial Grand at Commerce Park (Charleston, SC) [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,596,000 | ||||
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 | ||||
Development Properties [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 34,900,000 | ||||
Initial Cost Buildings and Fixtures | 45,724,000 | ||||
Gross Amount, Land | 34,900,000 | ||||
Gross Amount, Buildings and Fixtures | 127,855,000 | ||||
Total | 162,755,000 | ||||
Accumulated Depreciation | (176,000) | ||||
Net | 162,579,000 | ||||
Development Properties [Member] | 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 | 46,316,000 | ||||
Gross Amount, Land | 10,037,000 | ||||
Gross Amount, Buildings and Fixtures | 47,801,000 | ||||
Total | 57,838,000 | ||||
Accumulated Depreciation | (2,927,000) | ||||
Net | 54,911,000 | ||||
Development Properties [Member] | Post River North [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 14,500,000 | ||||
Initial Cost Buildings and Fixtures | 28,900,000 | ||||
Gross Amount, Land | 14,500,000 | ||||
Gross Amount, Buildings and Fixtures | 66,695,000 | ||||
Total | 81,195,000 | ||||
Accumulated Depreciation | (176,000) | ||||
Net | 81,019,000 | ||||
Development Properties [Member] | 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 | 53,706,000 | ||||
Total | 67,356,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 67,356,000 | ||||
Development Properties [Member] | The Denton II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 6,750,000 | ||||
Initial Cost Buildings and Fixtures | 5,874,000 | ||||
Gross Amount, Land | 6,750,000 | ||||
Gross Amount, Buildings and Fixtures | 7,454,000 | ||||
Total | 14,204,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 14,204,000 | ||||
Development Properties [Member] | Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties [Member] | Land | Post Parkside at Wade II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 587,000 | ||||
Development Properties [Member] | Land | Post River North [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties [Member] | Land | Post Centennial Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties [Member] | Land | The Denton II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 0 | ||||
Development Properties [Member] | Buildings and Fixtures | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 82,131,000 | ||||
Development Properties [Member] | Buildings and Fixtures | Post Parkside at Wade II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,485,000 | ||||
Development Properties [Member] | Buildings and Fixtures | Post River North [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 37,795,000 | ||||
Development Properties [Member] | Buildings and Fixtures | Post Centennial Park [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 42,756,000 | ||||
Development Properties [Member] | Buildings and Fixtures | The Denton II [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,580,000 | ||||
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 | 34,916,000 | ||||
Total | 38,189,000 | ||||
Accumulated Depreciation | (16,711,000) | ||||
Net | $ 21,478,000 | ||||
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 | $ 5,178,000 | ||||
Retail Properties | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Initial Cost Land | 30,482,000 | ||||
Initial Cost Buildings and Fixtures | 165,828,000 | ||||
Gross Amount, Land | 31,399,000 | ||||
Gross Amount, Buildings and Fixtures | 174,963,000 | ||||
Total | 206,362,000 | ||||
Accumulated Depreciation | (10,674,000) | ||||
Net | 195,688,000 | ||||
Retail Properties | Post Harbour Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 386,000 | ||||
Initial Cost Buildings and Fixtures | 4,315,000 | ||||
Gross Amount, Land | 386,000 | ||||
Gross Amount, Buildings and Fixtures | 4,436,000 | ||||
Total | 4,822,000 | ||||
Accumulated Depreciation | (206,000) | ||||
Net | $ 4,616,000 | ||||
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 | 321,000 | ||||
Total | 355,000 | ||||
Accumulated Depreciation | (22,000) | ||||
Net | 333,000 | ||||
Retail Properties | Post Training Facility [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 1,092,000 | ||||
Initial Cost Buildings and Fixtures | 968,000 | ||||
Gross Amount, Land | 1,092,000 | ||||
Gross Amount, Buildings and Fixtures | 971,000 | ||||
Total | 2,063,000 | ||||
Accumulated Depreciation | (86,000) | ||||
Net | 1,977,000 | ||||
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 | 4,033,000 | ||||
Gross Amount, Land | 268,000 | ||||
Gross Amount, Buildings and Fixtures | 4,036,000 | ||||
Total | 4,304,000 | ||||
Accumulated Depreciation | (236,000) | ||||
Net | $ 4,068,000 | ||||
Date of Construction | Dec. 31, 2012 | ||||
Retail Properties | Post Parkside Atlanta [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 426,000 | ||||
Initial Cost Buildings and Fixtures | 1,089,000 | ||||
Gross Amount, Land | 426,000 | ||||
Gross Amount, Buildings and Fixtures | 1,092,000 | ||||
Total | 1,518,000 | ||||
Accumulated Depreciation | (51,000) | ||||
Net | $ 1,467,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Retail Properties | Post Uptown Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 319,000 | ||||
Initial Cost Buildings and Fixtures | 1,144,000 | ||||
Gross Amount, Land | 319,000 | ||||
Gross Amount, Buildings and Fixtures | 1,147,000 | ||||
Total | 1,466,000 | ||||
Accumulated Depreciation | (63,000) | ||||
Net | $ 1,403,000 | ||||
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 | 140,000 | ||||
Total | 165,000 | ||||
Accumulated Depreciation | (5,000) | ||||
Net | $ 160,000 | ||||
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 | 4,460,000 | ||||
Total | 5,160,000 | ||||
Accumulated Depreciation | (266,000) | ||||
Net | $ 4,894,000 | ||||
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 | 318,000 | ||||
Initial Cost Buildings and Fixtures | 1,430,000 | ||||
Gross Amount, Land | 318,000 | ||||
Gross Amount, Buildings and Fixtures | 1,433,000 | ||||
Total | 1,751,000 | ||||
Accumulated Depreciation | (87,000) | ||||
Net | $ 1,664,000 | ||||
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 | 4,552,000 | ||||
Gross Amount, Land | 317,000 | ||||
Gross Amount, Buildings and Fixtures | 4,615,000 | ||||
Total | 4,932,000 | ||||
Accumulated Depreciation | (270,000) | ||||
Net | $ 4,662,000 | ||||
Date of Construction | Dec. 31, 2011 | ||||
Retail Properties | Post Parkside Orlando [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 742,000 | ||||
Initial Cost Buildings and Fixtures | 11,924,000 | ||||
Gross Amount, Land | 742,000 | ||||
Gross Amount, Buildings and Fixtures | 12,148,000 | ||||
Total | 12,890,000 | ||||
Accumulated Depreciation | (578,000) | ||||
Net | $ 12,312,000 | ||||
Date of Construction | Dec. 31, 1999 | ||||
Retail Properties | Post South End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 470,000 | ||||
Initial Cost Buildings and Fixtures | 1,289,000 | ||||
Gross Amount, Land | 470,000 | ||||
Gross Amount, Buildings and Fixtures | 1,409,000 | ||||
Total | 1,879,000 | ||||
Accumulated Depreciation | (75,000) | ||||
Net | $ 1,804,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Retail Properties | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 448,000 | ||||
Initial Cost Buildings and Fixtures | 21,386,000 | ||||
Gross Amount, Land | 448,000 | ||||
Gross Amount, Buildings and Fixtures | 21,963,000 | ||||
Total | 22,411,000 | ||||
Accumulated Depreciation | (1,271,000) | ||||
Net | 21,140,000 | ||||
Retail Properties | Post Cole's Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 347,000 | ||||
Initial Cost Buildings and Fixtures | 716,000 | ||||
Gross Amount, Land | 347,000 | ||||
Gross Amount, Buildings and Fixtures | 733,000 | ||||
Total | 1,080,000 | ||||
Accumulated Depreciation | (42,000) | ||||
Net | $ 1,038,000 | ||||
Date of Construction | Dec. 31, 1998 | ||||
Retail Properties | Post Eastside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 682,000 | ||||
Initial Cost Buildings and Fixtures | 10,645,000 | ||||
Gross Amount, Land | 682,000 | ||||
Gross Amount, Buildings and Fixtures | 10,660,000 | ||||
Total | 11,342,000 | ||||
Accumulated Depreciation | (507,000) | ||||
Net | $ 10,835,000 | ||||
Date of Construction | Dec. 31, 2008 | ||||
Retail Properties | Post Heights [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,066,000 | ||||
Initial Cost Buildings and Fixtures | 3,314,000 | ||||
Gross Amount, Land | 1,066,000 | ||||
Gross Amount, Buildings and Fixtures | 3,316,000 | ||||
Total | 4,382,000 | ||||
Accumulated Depreciation | (174,000) | ||||
Net | $ 4,208,000 | ||||
Date of Construction | Dec. 31, 1997 | ||||
Retail Properties | Post Katy Trail [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 465,000 | ||||
Initial Cost Buildings and Fixtures | 4,883,000 | ||||
Gross Amount, Land | 465,000 | ||||
Gross Amount, Buildings and Fixtures | 4,888,000 | ||||
Total | 5,353,000 | ||||
Accumulated Depreciation | (206,000) | ||||
Net | $ 5,147,000 | ||||
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 | 3,334,000 | ||||
Gross Amount, Land | 150,000 | ||||
Gross Amount, Buildings and Fixtures | 3,344,000 | ||||
Total | 3,494,000 | ||||
Accumulated Depreciation | (152,000) | ||||
Net | $ 3,342,000 | ||||
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 | 779,000 | ||||
Initial Cost Buildings and Fixtures | 6,593,000 | ||||
Gross Amount, Land | 779,000 | ||||
Gross Amount, Buildings and Fixtures | 6,811,000 | ||||
Total | 7,590,000 | ||||
Accumulated Depreciation | (340,000) | ||||
Net | $ 7,250,000 | ||||
Date of Construction | Dec. 31, 2009 | ||||
Retail Properties | Post Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,581,000 | ||||
Initial Cost Buildings and Fixtures | 5,982,000 | ||||
Gross Amount, Land | 1,581,000 | ||||
Gross Amount, Buildings and Fixtures | 6,024,000 | ||||
Total | 7,605,000 | ||||
Accumulated Depreciation | (314,000) | ||||
Net | $ 7,291,000 | ||||
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 | 495,000 | ||||
Gross Amount, Land | 108,000 | ||||
Gross Amount, Buildings and Fixtures | 513,000 | ||||
Total | 621,000 | ||||
Accumulated Depreciation | (19,000) | ||||
Net | 602,000 | ||||
Retail Properties | Post South Lamar [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 421,000 | ||||
Initial Cost Buildings and Fixtures | 3,072,000 | ||||
Gross Amount, Land | 421,000 | ||||
Gross Amount, Buildings and Fixtures | 3,085,000 | ||||
Total | 3,506,000 | ||||
Accumulated Depreciation | (157,000) | ||||
Net | $ 3,349,000 | ||||
Date of Construction | Dec. 31, 2011 | ||||
Retail Properties | Post Midtown Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,327,000 | ||||
Initial Cost Buildings and Fixtures | 16,005,000 | ||||
Gross Amount, Land | 1,327,000 | ||||
Gross Amount, Buildings and Fixtures | 16,048,000 | ||||
Total | 17,375,000 | ||||
Accumulated Depreciation | (702,000) | ||||
Net | 16,673,000 | ||||
Retail Properties | Rise Condo Development [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 0 | ||||
Initial Cost Buildings and Fixtures | 2,280,000 | ||||
Gross Amount, Land | 0 | ||||
Gross Amount, Buildings and Fixtures | 2,283,000 | ||||
Total | 2,283,000 | ||||
Accumulated Depreciation | (115,000) | ||||
Net | 2,168,000 | ||||
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 | (76,000) | ||||
Net | $ 282,000 | ||||
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 | 3,243,000 | ||||
Total | 3,496,000 | ||||
Accumulated Depreciation | (480,000) | ||||
Net | $ 3,016,000 | ||||
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 | 1,048,000 | ||||
Initial Cost Buildings and Fixtures | 7,930,000 | ||||
Gross Amount, Land | 1,048,000 | ||||
Gross Amount, Buildings and Fixtures | 7,935,000 | ||||
Total | 8,983,000 | ||||
Accumulated Depreciation | (354,000) | ||||
Net | 8,629,000 | ||||
Retail Properties | Highlands of West Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 2,500,000 | ||||
Initial Cost Buildings and Fixtures | 8,446,000 | ||||
Gross Amount, Land | 3,408,000 | ||||
Gross Amount, Buildings and Fixtures | 9,491,000 | ||||
Total | 12,899,000 | ||||
Accumulated Depreciation | (1,044,000) | ||||
Net | $ 11,855,000 | ||||
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 | 3,519,000 | ||||
Total | 4,386,000 | ||||
Accumulated Depreciation | (663,000) | ||||
Net | $ 3,723,000 | ||||
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 | 444,000 | ||||
Total | 496,000 | ||||
Accumulated Depreciation | (104,000) | ||||
Net | $ 392,000 | ||||
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 | 889,000 | ||||
Initial Cost Buildings and Fixtures | 2,340,000 | ||||
Gross Amount, Land | 889,000 | ||||
Gross Amount, Buildings and Fixtures | 2,369,000 | ||||
Total | 3,258,000 | ||||
Accumulated Depreciation | (171,000) | ||||
Net | $ 3,087,000 | ||||
Date of Construction | Dec. 31, 1996 | ||||
Retail Properties | Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | $ 917,000 | ||||
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 | 0 | ||||
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 | 908,000 | ||||
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 | 9,135,000 | ||||
Retail Properties | Buildings and Fixtures | Post Harbour Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 121,000 | ||||
Retail Properties | Buildings and Fixtures | Post Rocky Point [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 270,000 | ||||
Retail Properties | Buildings and Fixtures | Post Training Facility [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,000 | ||||
Retail Properties | Buildings and Fixtures | Post Soho Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,000 | ||||
Retail Properties | Buildings and Fixtures | Post Parkside Atlanta [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,000 | ||||
Retail Properties | Buildings and Fixtures | Post Uptown Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,000 | ||||
Retail Properties | Buildings and Fixtures | Post Park Maryland [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,000 | ||||
Retail Properties | Buildings and Fixtures | The Denton [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 21,000 | ||||
Retail Properties | Buildings and Fixtures | Post Gateway Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,000 | ||||
Retail Properties | Buildings and Fixtures | Post Parkside at Wade [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 63,000 | ||||
Retail Properties | Buildings and Fixtures | Post Parkside Orlando [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 224,000 | ||||
Retail Properties | Buildings and Fixtures | Post South End [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 120,000 | ||||
Retail Properties | Buildings and Fixtures | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 577,000 | ||||
Retail Properties | Buildings and Fixtures | Post Cole's Corner [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 17,000 | ||||
Retail Properties | Buildings and Fixtures | Post Eastside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 15,000 | ||||
Retail Properties | Buildings and Fixtures | Post Heights [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 2,000 | ||||
Retail Properties | Buildings and Fixtures | Post Katy Trail [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,000 | ||||
Retail Properties | Buildings and Fixtures | Post Legacy [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 10,000 | ||||
Retail Properties | Buildings and Fixtures | Post Sierra at Frisco Bridges [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 218,000 | ||||
Retail Properties | Buildings and Fixtures | Post Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 42,000 | ||||
Retail Properties | Buildings and Fixtures | Post Worthington [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 18,000 | ||||
Retail Properties | Buildings and Fixtures | Post South Lamar [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 13,000 | ||||
Retail Properties | Buildings and Fixtures | Post Midtown Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 43,000 | ||||
Retail Properties | Buildings and Fixtures | Rise Condo Development [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,000 | ||||
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 | 1,933,000 | ||||
Retail Properties | Buildings and Fixtures | Post Carlyle Square [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 5,000 | ||||
Retail Properties | Buildings and Fixtures | Highlands of West Village [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,045,000 | ||||
Retail Properties | Buildings and Fixtures | Allure at Buckhead | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 54,000 | ||||
Retail Properties | Buildings and Fixtures | 1225 South Church | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 245,000 | ||||
Retail Properties | Buildings and Fixtures | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | $ 29,000 | ||||
Other Property [Member] | Post Training Facility [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Date of Construction | Dec. 31, 1999 | ||||
Other Property [Member] | Post Uptown Place [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 0 | ||||
Initial Cost Land | 1,290,000 | ||||
Initial Cost Buildings and Fixtures | 1,488,000 | ||||
Gross Amount, Land | 1,290,000 | ||||
Gross Amount, Buildings and Fixtures | 1,563,000 | ||||
Total | 2,853,000 | ||||
Accumulated Depreciation | (55,000) | ||||
Net | $ 2,798,000 | ||||
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 | 1,395,000 | ||||
Initial Cost Buildings and Fixtures | 4,280,000 | ||||
Gross Amount, Land | 1,395,000 | ||||
Gross Amount, Buildings and Fixtures | 4,564,000 | ||||
Total | 5,959,000 | ||||
Accumulated Depreciation | (326,000) | ||||
Net | 5,633,000 | ||||
Other Property [Member] | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 9,680,000 | ||||
Initial Cost Buildings and Fixtures | 22,108,000 | ||||
Gross Amount, Land | 9,680,000 | ||||
Gross Amount, Buildings and Fixtures | 25,647,000 | ||||
Total | 35,327,000 | ||||
Accumulated Depreciation | (1,457,000) | ||||
Net | $ 33,870,000 | ||||
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 | 75,000 | ||||
Other Property [Member] | Buildings and Fixtures | Post Addison Circle [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 284,000 | ||||
Other Property [Member] | Buildings and Fixtures | Post Riverside [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 3,539,000 | ||||
Total Properties | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 757,579,000 | ||||
Initial Cost Land | 1,830,355,000 | ||||
Initial Cost Buildings and Fixtures | 10,017,389,000 | ||||
Gross Amount, Land | 1,836,417,000 | ||||
Gross Amount, Buildings and Fixtures | 11,366,954,000 | ||||
Total | 13,203,371,000 | ||||
Accumulated Depreciation | (2,055,655,000) | ||||
Net | 11,147,716,000 | ||||
Total Properties | Land | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 6,062,000 | ||||
Total Properties | Buildings and Fixtures | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Cost Capitalized subsequent to Acquisition | 1,349,565,000 | ||||
Land Held for Future Developments | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | 0 | ||||
Initial Cost Land | 57,285,000 | ||||
Initial Cost Buildings and Fixtures | 0 | ||||
Gross Amount, Land | 57,285,000 | ||||
Gross Amount, Buildings and Fixtures | 0 | ||||
Total | 57,285,000 | ||||
Accumulated Depreciation | 0 | ||||
Net | 57,285,000 | ||||
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 | 57,285,000 | ||||
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 | 31,383,000 | ||||
Gross Amount, Land | 57,285,000 | ||||
Gross Amount, Buildings and Fixtures | 31,383,000 | ||||
Total | 88,668,000 | ||||
Accumulated Depreciation | (19,416,000) | ||||
Net | 69,252,000 | ||||
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 | 31,383,000 | ||||
Total | 31,383,000 | ||||
Accumulated Depreciation | (19,416,000) | ||||
Net | $ 11,967,000 | ||||
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 | $ 31,383,000 | ||||
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 [Member] | |||||
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 [Member] | |||||
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 $80.0 million Fannie Mae facility, with $80.0 million available and outstanding with a variable interest rate of 1.8% on which there exists one interest rate cap for $25 million at a rate of 4.50% at December 31, 2017. | ||||
[2] | Encumbered by a $125.2 million loan with a fixed interest rate of 5.08% which matures on June 10, 2021. |
Schedule III Real Estate and 76
Schedule III Real Estate and Accumulated Depreciation (Parenthetical) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($)Contract | |
Real Estate and Accumulated Depreciation [Line Items] | |
SEC Schedule III, Real Estate, Federal Income Tax Basis | $ 10,800,000,000 |
Encumbrance 1 | FNMA | |
Real Estate and Accumulated Depreciation [Line Items] | |
Secured credit facilities, amount available | 80,000,000 |
Line of credit facility, amount outstanding | $ 80,000,000 |
Variable interest rate (percent) | 1.80% |
Encumbrance 1 | FNMA | Interest Rate Swap | |
Real Estate and Accumulated Depreciation [Line Items] | |
Number of Interest rate derivatives held (contracts) | Contract | 1 |
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 | $ 25,000,000 |
Encumbrance 2 | Fixed Rate Debt | Loan [Member] | |
Real Estate and Accumulated Depreciation [Line Items] | |
Amount of bond used as encumbrance | $ 125,200,000 |
Derivative cap interest rate (percent) | 5.08% |
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 Inve77
Activity for Real Estate Investments and Accumulated Depreciation (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Real Estate Investments [Abstract] | ||||
Balance at beginning of year | $ (12,972,170,000) | $ (8,215,768,000) | $ (8,069,395,000) | |
Acquisitions | [1] | 127,710,000 | 4,961,140,000 | 316,151,000 |
Less: FMV of Leases included in Acquisitions | (1,488,000) | (51,588,000) | (4,438,000) | |
Improvement and development | 322,829,000 | 202,614,000 | 165,000,000 | |
Disposition of real estate assets | [2] | (123,861,000) | (355,764,000) | (330,340,000) |
Balance at end of year | (13,292,039,000) | (12,972,170,000) | (8,215,768,000) | |
Real Estate and Accumulated Depreciation Disclosure [Abstract] | ||||
Balance at beginning of year | 1,674,801,000 | 1,499,213,000 | 1,373,678,000 | |
Depreciation | 463,590,000 | 314,076,000 | 289,177,000 | |
Disposition of real estate assets | [2] | (63,320,000) | (138,488,000) | (163,642,000) |
Balance at end of year | 2,075,071,000 | 1,674,801,000 | 1,499,213,000 | |
Assets Held-for-sale | ||||
Real Estate Investments [Abstract] | ||||
Balance at beginning of year | 0 | 0 | ||
Balance at end of year | (5,321,000) | 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. |