Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 12, 2016 | Jun. 30, 2015 | |
Entity Information [Line Items] | |||
Entity Public Float | $ 6,381,496,192 | ||
Share Price | $ 76.76 | $ 74.28 | |
Entity Registrant Name | CAMDEN PROPERTY TRUST | ||
Entity Central Index Key | 906,345 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 86,927,591 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Assets | ||
Land | $ 1,048,685 | $ 1,003,422 |
Buildings and improvements | 6,284,851 | 5,890,498 |
Real estate assets, at cost, total | 7,333,536 | 6,893,920 |
Accumulated depreciation | (1,978,690) | (1,738,862) |
Net operating real estate assets | 5,354,846 | 5,155,058 |
Properties under development, including land | 491,120 | 527,596 |
Investments in joint ventures | 33,698 | 36,429 |
Properties held for sale | 0 | 27,143 |
Total real estate assets | 5,879,664 | 5,746,226 |
Accounts receivable - affiliates | 25,100 | 25,977 |
Other assets, net | 116,260 | 111,962 |
Cash and cash equivalents | 10,617 | 153,918 |
Restricted cash | 5,971 | 5,898 |
Total assets | 6,037,612 | 6,043,981 |
Liabilities | ||
Unsecured notes payable | 1,824,930 | 1,828,485 |
Secured notes payable | 899,757 | 902,128 |
Accounts payable and accrued expenses | 133,353 | 157,232 |
Accrued real estate taxes | 45,223 | 39,149 |
Distributions payable | 64,275 | 60,386 |
Other liabilities | 97,814 | 100,058 |
Total liabilities | $ 3,065,352 | $ 3,087,438 |
Commitments and contingencies (Note 13) | ||
Non-qualified deferred compensation share awards | $ 79,364 | $ 68,134 |
Equity | ||
Common shares of beneficial interest; $0.01 par value per share; 175,000 shares authorized; 100,636 and 100,620 issued; 97,571 and 97,604 outstanding at December 31, 2015 and 2014, respectively | 976 | 976 |
Additional paid-in capital | 3,662,864 | 3,667,448 |
Distributions in excess of net income attributable to common shareholders | (458,577) | (453,777) |
Treasury shares, at cost (10,703 and 10,975 common shares, at December 31, 2015 and 2014, respectively) | (386,793) | (396,626) |
Accumulated other comprehensive loss | (1,913) | (2,419) |
Total common equity | 2,816,557 | 2,815,602 |
Non-controlling interests | 76,339 | 72,807 |
Total equity | 2,892,896 | 2,888,409 |
Total liabilities and equity | $ 6,037,612 | $ 6,043,981 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Common shares, par value, per share | $ 0.01 | $ 0.01 |
Common shares, authorized | 175,000 | 175,000 |
Common shares, issued | 100,636 | 100,620 |
Common shares, outstanding | 97,571 | 97,604 |
Treasury shares, at cost | 10,703 | 10,975 |
Consolidated Statements Of Inco
Consolidated Statements Of Income And Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||||
Property revenues | ||||||
Rental revenues | $ 769,108 | $ 731,874 | $ 683,362 | |||
Other property revenues | 123,820 | 112,104 | 105,489 | |||
Total property revenues | 892,928 | [1] | 843,978 | [1] | 788,851 | |
Property expenses | ||||||
Property operating and maintenance | 219,831 | 211,253 | 199,650 | |||
Real estate taxes | 101,885 | 94,055 | 86,041 | |||
Total property expenses | 321,716 | 305,308 | 285,691 | |||
Non-property income | ||||||
Fee and asset management | 6,999 | 9,832 | 11,690 | |||
Interest and other income | 597 | 842 | 1,217 | |||
Income (loss) on deferred compensation plans | (264) | 3,937 | 8,290 | |||
Total non-property income | 7,332 | 14,611 | 21,197 | |||
Other expenses | ||||||
Property management | 23,761 | 22,689 | 21,774 | |||
Fee and asset management | 4,742 | 5,341 | 5,756 | |||
General and administrative | 46,233 | 51,005 | 40,586 | |||
Interest | 97,312 | 94,906 | 99,784 | |||
Depreciation and amortization | 257,082 | 237,346 | 216,288 | |||
Expense (benefit) on deferred compensation plans | (264) | 3,937 | 8,290 | |||
Total other expenses | 428,866 | 415,224 | 392,478 | |||
Gain on sale of operating properties, including land | 104,288 | 159,289 | 698 | |||
Impairment associated with land holdings | 0 | (1,152) | 0 | |||
Equity in income of joint ventures | [2] | 6,168 | 7,023 | 24,865 | ||
Income from continuing operations before income taxes | 260,134 | 303,217 | 157,442 | |||
Income tax expense | (1,872) | (1,903) | (1,826) | |||
Income from continuing operations | 258,262 | 301,314 | 155,616 | |||
Income from discontinued operations | 0 | 0 | 8,515 | |||
Gain on sale of discontinued operations, net of tax | 0 | 0 | 182,160 | |||
Net income | 258,262 | 301,314 | 346,291 | |||
Less income allocated to non-controlling interests from continuing operations | (8,947) | (9,225) | (4,022) | |||
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations | 0 | 0 | (5,905) | |||
Net income attributable to common shareholders | $ 249,315 | [1] | $ 292,089 | [1] | $ 336,364 | |
Earnings per share - basic | ||||||
Earnings per common share from continuing operations | $ 2.77 | $ 3.29 | $ 1.70 | |||
Earnings per common share from discontinued operations | 0 | 0 | 2.12 | |||
Total earnings per common share - basic | 2.77 | [1] | 3.29 | [1] | 3.82 | |
Earnings per share - diluted | ||||||
Earnings per common share from continuing operations | 2.76 | 3.27 | 1.69 | |||
Earnings per common share from discontinued operations | 0 | 0 | 2.09 | |||
Total earnings per common share - diluted | $ 2.76 | [1] | $ 3.27 | [1] | $ 3.78 | |
Weighted average number of common shares outstanding - basic | 89,120 | 88,084 | 87,204 | |||
Weighted average number of common shares outstanding - diluted | 89,490 | 88,468 | 88,494 | |||
Net income attributable to common shareholders | ||||||
Income from continuing operations | $ 258,262 | $ 301,314 | $ 155,616 | |||
Less income allocated to non-controlling interests from continuing operations | (8,947) | (9,225) | (4,022) | |||
Income from continuing operations attributable to common shareholders | 249,315 | 292,089 | 151,594 | |||
Income from discontinued operations, including gain on sale | 0 | 0 | 190,675 | |||
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations | 0 | 0 | (5,905) | |||
Income from discontinued operations, including gain on sale, attributable to common shareholders | 0 | 0 | 184,770 | |||
Net income attributable to common shareholders | 249,315 | [1] | 292,089 | [1] | 336,364 | |
Consolidated Statements of Comprehensive Income: | ||||||
Net income | 258,262 | 301,314 | 346,291 | |||
Other comprehensive income | ||||||
Unrealized loss on cash flow hedging activities | 0 | (417) | 0 | |||
Unrealized gain (loss) and unamortized prior service cost on postretirement obligation | 357 | (970) | (99) | |||
Reclassification of net loss on cash flow hedging activities, prior service cost and net loss on post retirement obligation | 149 | 74 | 54 | |||
Comprehensive income | 258,768 | 300,001 | 346,246 | |||
Less income allocated to non-controlling interests from continuing operations | (8,947) | (9,225) | (4,022) | |||
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations | 0 | 0 | (5,905) | |||
Comprehensive income attributable to common shareholders | $ 249,821 | $ 290,776 | $ 336,319 | |||
[1] | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. | |||||
[2] | Equity in income excludes our ownership interest of fee income from various services provided by us to the funds. |
Consolidated Statements Of Equi
Consolidated Statements Of Equity - USD ($) $ in Thousands | Total | Common Shares Of Beneficial Interest | Additional Paid-In Capital | Distributions In Excess Of Net Income | Treasury Shares, At Cost | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interests |
Equity, Beginning Balance at Dec. 31, 2012 | $ 2,626,708 | $ 962 | $ 3,587,505 | $ (598,951) | $ (425,355) | $ (1,062) | $ 63,609 |
Net Income | 346,291 | 336,364 | 9,927 | ||||
Other comprehensive loss | (44) | (44) | |||||
Common shares issued | 40,044 | 6 | 40,038 | ||||
Net share awards | 17,578 | (1) | 4,921 | 12,658 | |||
Employee share purchase plan | 918 | 449 | 469 | ||||
Common share options exercised | 2,842 | 841 | 2,001 | ||||
Change in classification of deferred compensation plan | (37,958) | (37,958) | |||||
Change in redemption value of non-qualified share awards | (9,575) | (9,575) | |||||
Diversification of share awards within deferred compensation plan | 353 | 221 | 132 | ||||
Conversions and redemptions of operating partnership units | (52) | 52 | (104) | ||||
Cash distributions declared to equity holders | (226,924) | (222,137) | (4,787) | ||||
Equity, Ending Balance at Dec. 31, 2013 | 2,760,181 | 967 | 3,596,069 | (494,167) | (410,227) | (1,106) | 68,645 |
Net Income | 301,314 | 292,089 | 9,225 | ||||
Other comprehensive loss | (1,313) | (1,313) | |||||
Common shares issued | 66,225 | 9 | 66,216 | ||||
Net share awards | 19,368 | 8,010 | 11,358 | ||||
Employee share purchase plan | 2,271 | 1,012 | 1,259 | ||||
Common share options exercised | 1,502 | 1 | 517 | 984 | |||
Change in classification of deferred compensation plan | (7,702) | (7,702) | |||||
Change in redemption value of non-qualified share awards | (17,921) | (17,921) | |||||
Diversification of share awards within deferred compensation plan | 4,669 | 3,273 | 1,396 | ||||
Conversions and redemptions of operating partnership units | 0 | 52 | (52) | ||||
Cash distributions declared to equity holders | (240,185) | (235,174) | (5,011) | ||||
Other | 0 | (1) | 1 | ||||
Equity, Ending Balance at Dec. 31, 2014 | 2,888,409 | 976 | 3,667,448 | (453,777) | (396,626) | (2,419) | 72,807 |
Net Income | 258,262 | 249,315 | 8,947 | ||||
Other comprehensive loss | 506 | 506 | |||||
Net share awards | 22,325 | 13,020 | 9,305 | ||||
Employee share purchase plan | 1,111 | 583 | 528 | ||||
Common share options exercised | 176 | 176 | |||||
Change in classification of deferred compensation plan | (10,999) | (10,999) | |||||
Change in redemption value of non-qualified share awards | (3,788) | (3,788) | |||||
Diversification of share awards within deferred compensation plan | 3,557 | 2,134 | 1,423 | ||||
Conversions and redemptions of operating partnership units | 0 | 86 | (86) | ||||
Cash distributions declared to equity holders | (257,059) | (251,750) | (5,309) | ||||
Purchase of non-controlling interests | (9,500) | (9,480) | (20) | ||||
Other | (104) | (104) | |||||
Equity, Ending Balance at Dec. 31, 2015 | $ 2,892,896 | $ 976 | $ 3,662,864 | $ (458,577) | $ (386,793) | $ (1,913) | $ 76,339 |
Consolidated Statements Of Equ6
Consolidated Statements Of Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Common shares issued | 0 | 898 | 555 |
Common share options exercised | 53,358 | 375,316 | 183,871 |
Conversions and redemptions of operating partnership units | 2 | 1 | 2 |
Cash distributions declared to equity holders per share | $ 2.80 | $ 2.64 | $ 2.52 |
Additional Paid-In Capital | |||
Common share options exercised | 0 | 55 | 0 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Cash flows from operating activities | ||||
Net income | $ 258,262 | $ 301,314 | $ 346,291 | |
Adjustments to reconcile net income to net cash from operating activities: | ||||
Depreciation and amortization | 257,082 | 237,346 | 221,543 | |
Gain on sale of operating properties, including land | (104,288) | (159,289) | (698) | |
Gain on sale of discontinued operations, net of tax | 0 | 0 | (182,160) | |
Impairment associated with land holdings | 0 | 1,152 | 0 | |
Distributions of income from joint ventures | 6,387 | 7,399 | 8,884 | |
Equity in income of joint ventures | [1] | (6,168) | (7,023) | (24,865) |
Share-based compensation | 17,674 | 15,552 | 14,063 | |
Net change in operating accounts and other | (5,711) | 22,077 | 21,233 | |
Net cash from operating activities | 423,238 | 418,528 | 404,291 | |
Cash flows from investing activities | ||||
Development and capital improvements | (425,574) | (503,328) | (356,815) | |
Acquisition of operating properties | 0 | (62,260) | (224,109) | |
Proceeds from sale of operating properties, including land | 145,014 | 237,712 | 5,686 | |
Proceeds from discontinued operations | 0 | 0 | 323,755 | |
Distributions from investments in joint ventures | 2,512 | 6,350 | 11,295 | |
Increase in non-real estate assets | (4,091) | (4,695) | (17,497) | |
Other | (11,169) | 335 | (1,300) | |
Net cash from investing activities | (293,308) | (325,886) | (258,985) | |
Cash flows from financing activities | ||||
Repayment of notes payable | (253,043) | (36,340) | (230,288) | |
Borrowings on unsecured line of credit and other short-term borrowings | 1,466,000 | 2,246,000 | 952,900 | |
Repayments on unsecured line of credit and other short-term borrowings | (1,222,000) | (2,246,000) | (952,900) | |
Proceeds from notes payable | 0 | 248,078 | 249,535 | |
Distributions to common shareholders and non-controlling interests | (253,129) | (236,514) | (220,083) | |
Purchase of non-controlling interests | (9,500) | 0 | 0 | |
Net decrease in accounts receivable - affiliates | 877 | 1,747 | 5,901 | |
Proceeds from issuance of common shares | 0 | 66,225 | 40,044 | |
Other | (2,436) | 286 | 710 | |
Net cash from financing activities | (273,231) | 43,482 | (154,181) | |
Net increase (decrease) in cash and cash equivalents | (143,301) | 136,124 | (8,875) | |
Cash and cash equivalents, beginning of year | 153,918 | 17,794 | 26,669 | |
Cash and cash equivalents, end of year | 10,617 | 153,918 | 17,794 | |
Supplemental information | ||||
Cash paid for interest, net of interest capitalized | 96,179 | 86,711 | 98,101 | |
Cash paid for income taxes | 1,889 | 1,658 | 2,114 | |
Supplemental schedule of noncash investing and financing activities | ||||
Distributions declared but not paid | 64,275 | 60,386 | 56,787 | |
Value of shares issued under benefit plans, net of cancellations | 18,336 | 19,310 | 20,195 | |
Net change in redemption of non-qualified share awards | 2,365 | 16,525 | 9,443 | |
Accrual associated with construction and capital expenditures | $ 24,175 | $ 22,456 | $ 21,071 | |
[1] | Equity in income excludes our ownership interest of fee income from various services provided by us to the funds. |
Description Of Business
Description Of Business | 12 Months Ended |
Dec. 31, 2015 | |
Description of Business [Abstract] | |
Description Of Business | 1. Description of Business Business. Formed on May 25, 1993, Camden Property Trust, a Texas real estate investment trust (“REIT”), is primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Our multifamily apartment communities are referred to as “communities,” “multifamily communities,” “properties,” or “multifamily properties” in the following discussion. As of December 31, 2015 , we owned interests in, operated, or were developing 180 multifamily properties comprised of 62,649 apartment homes across the United States. Of the 180 properties, eight properties were under construction, and when completed will consist of a total of 2,857 apartment homes. We also own land holdings which we may develop into multifamily communities in the future. |
Summary of Significant Accounti
Summary of Significant Accounting Policies and Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements | 2. Summary of Significant Accounting Policies and Recent Accounting Pronouncements Principles of Consolidation . Our consolidated financial statements include our accounts and the accounts of other subsidiaries and joint ventures (including partnerships and limited liability companies) over which we have control. All intercompany transactions, balances, and profits have been eliminated in consolidation. Investments acquired or created are evaluated based on the accounting guidance relating to variable interest entities (“VIEs”), which requires the consolidation of VIEs in which we are considered to be the primary beneficiary. If the investment is determined not to be a VIE, then the investment is evaluated for consolidation (primarily using a voting interest model) under the remaining consolidation guidance relating to real estate entities. If we are the general partner of a limited partnership, or manager of a limited liability company, we also consider the consolidation guidance relating to the rights of limited partners, or non-managing members, as the case may be, to assess whether any rights held by the limited partners, or non-managing members, as the case may be, overcome the presumption of control by us. Acquisitions of Real Estate . Upon acquisition of real estate, we determine the fair value of tangible and intangible assets, which includes land, buildings (as-if-vacant), furniture and fixtures, the value of in-place leases, including above and below market leases, and acquired liabilities. In estimating these values, we apply methods similar to those used by independent appraisers of income-producing property. Upon the acquisition of a controlling interest of an investment in an unconsolidated joint venture, such joint venture is consolidated and our initial equity investment is remeasured to fair value at the date the controlling interest is acquired; any difference between the carrying value of the previously held equity investment and the fair value is recognized in earnings at the time of obtaining control. Transaction costs associated with the acquisition of operating real estate assets are expensed. Estimates of fair value of acquired debt are based upon interest rates available for the issuance of debt with similar terms and remaining maturities. Depreciation is computed on a straight-line basis over the remaining useful lives of the related tangible assets. The value of in-place leases and above or below market leases is amortized over the estimated average remaining life of leases in place at the time of acquisition. The net carrying value of below market leases is included in other liabilities in our consolidated balance sheets and the net carrying value of in-place leases is included in other assets, net in our consolidated balance sheets. The carrying values of below market leases and in-place leases at December 31, 2015 and 2014 are as follows: December 31, (in millions) 2015 2014 Below market leases (Gross carrying value) $ 0.5 $ 0.5 Accumulated amortization (0.5 ) (0.4 ) Value of below market leases, net $ — $ 0.1 In-place leases (Gross carrying value) $ 3.0 $ 3.0 Accumulated amortization (3.0 ) (2.5 ) Value of in-place leases, net $ — $ 0.5 Revenues recognized related to below market leases and amortization expense related to in-place leases for the years ended December 31, 2015 , 2014 and 2013 are as follows: December 31, (in millions) 2015 2014 2013 Revenues related to below market leases $ 0.1 $ 0.2 $ 1.1 Amortization of in-place leases $ 0.5 $ 1.4 $ 5.6 The weighted average amortization period of below market leases and in-place leases was approximately eight months, seven months and six months for the years ended December 31, 2015 , 2014 and 2013 , respectively. Asset Impairment . Long-lived assets are reviewed for impairment annually or whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Impairment may exist if estimated future undiscounted cash flows associated with long-lived assets are not sufficient to recover the carrying value of such assets. We consider projected future discounted and undiscounted cash flows, trends, strategic decisions regarding future development plans, and other factors in our assessment of whether impairment conditions exist. While we believe our estimates of future cash flows are reasonable, different assumptions regarding a number of factors, including market rents, economic conditions, and occupancies, could significantly affect these estimates. In estimating fair value, management uses appraisals, management estimates, and discounted cash flow calculations which utilize inputs from a marketplace participant’s perspective. When impairment exists, the long-lived asset is adjusted to its fair value. In addition, we evaluate our equity investments in joint ventures and if we believe there is an other than temporary decline in market value of our investment below our carrying value, we will record an impairment charge. We did not record any impairment charges for the years ended December 31, 2015 or 2013 . See Note 7, "Acquisitions, Dispositions, Impairment, and Discontinued Operations," for discussion of impairment during the year ended December 31, 2014 . The value of our properties under development depends on market conditions, including estimates of the project start date as well as estimates of demand for multifamily communities. We have reviewed market trends and other marketplace information and have incorporated this information as well as our current outlook into the assumptions we use in our impairment analyses. Due to the judgment and assumptions applied in the impairment analyses, it is possible actual results could differ substantially from those estimated. We believe the carrying value of our operating real estate assets, properties under development, and land is currently recoverable. However, if market conditions deteriorate or if changes in our development strategy significantly affect any key assumptions used in our fair value estimates, we may need to take material charges in future periods for impairments related to existing assets. Any such material non-cash charges could have an adverse effect on our consolidated financial position and results of operations. Cash and Cash Equivalents . All cash and investments in money market accounts and other highly liquid securities with a maturity of three months or less at the date of purchase are considered to be cash and cash equivalents. We maintain the majority of our cash and cash equivalents at major financial institutions in the United States and deposits with these financial institutions may exceed the amount of insurance provided on such deposits; however, we regularly monitor the financial stability of these financial institutions and believe we are not currently exposed to any significant default risk with respect to these deposits. Cost Capitalization . Real estate assets are carried at cost plus capitalized carrying charges. Carrying charges are primarily interest and real estate taxes which are capitalized as part of properties under development. Capitalized interest is generally based on the weighted average interest rate of our unsecured debt. Expenditures directly related to the development and improvement of real estate assets are capitalized at cost as land and buildings and improvements. Indirect development costs, including salaries and benefits and other related costs directly attributable to the development of properties, are also capitalized. We begin capitalizing development, construction, and carrying costs when the development of the future real estate asset is probable and activities necessary to prepare the underlying real estate for its intended use have been initiated. All construction and carrying costs are capitalized and reported in the balance sheet as properties under development until the apartment homes are substantially completed. Upon substantial completion of the apartment homes, the total capitalized development cost for the apartment homes and the associated land is transferred to buildings and improvements and land, respectively. As discussed above, carrying charges are principally interest and real estate taxes capitalized as part of properties under development. Capitalized interest was approximately $19.3 million , $22.2 million , and $15.7 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. Capitalized real estate taxes were approximately $3.6 million , $4.4 million , and $3.0 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. Where possible, we stage our construction to allow leasing and occupancy during the construction period, which we believe minimizes the duration of the lease-up period following completion of construction. Our accounting policy related to properties in the development and leasing phase is to expense all operating expenses associated with completed apartment homes. We capitalize renovation and improvement costs we believe extend the economic lives of depreciable property. Capital expenditures subsequent to initial construction are capitalized and depreciated over their estimated useful lives. We also incur expenditures related to renovation and construction of office space we lease and we capitalize these leasehold improvements as furniture, fixtures, equipment and other. We depreciate these costs using the straight-line method over the shorter of the lease term or the useful life of the improvement. During the third quarter of 2013, we relocated our corporate headquarters. In conjunction with this relocation, we capitalized approximately $12.2 million related to leasehold improvements which is depreciated over the life of our new lease. Depreciation and amortization is computed over the expected useful lives of depreciable property on a straight-line basis with lives generally as follows: Estimated Useful Life Buildings and improvements 5-35 years Furniture, fixtures, equipment and other 3-20 years Intangible assets/liabilities (in-place leases and below market leases) underlying lease term Discontinued Operations . We adopted ASU 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity," on January 1, 2014, which required only disposals representing a strategic shift, such as a major line of business, a major geographical area or a major equity investment, to be classified as a discontinued operation. We generally believe future sales of our individual operating properties will no longer qualify as discontinued operations effective with our adoption of this new standard. Prior to January 1, 2014 a property was classified as a discontinued operation when (i) the operations and cash flows of the property could be clearly distinguished and had been or would be eliminated from our ongoing operations; (ii) the property either had been disposed of or was classified as held for sale; and (iii) we would not have any significant continuing involvement in the operations of the property after the disposal transaction. The results of operations for properties sold during the period or classified as held for sale at the end of the period, and meeting the above criteria of discontinued operations, are classified as discontinued operations for all periods presented. The property-specific components of earnings classified as discontinued operations include separately identifiable property-specific revenues, expenses, depreciation, and interest expense, if any. The gain or loss resulting from the eventual disposal of the held for sale properties meeting the criteria of discontinued operations is also classified within discontinued operations. Real estate assets held for sale are measured at the lower of carrying amount or fair value less costs to sell and are presented separately in the accompanying consolidated balance sheets. Subsequent to classification of a property as held for sale, no further depreciation is recorded. Properties sold by our unconsolidated entities which do not meet the above criteria of discontinued operations are not included in discontinued operations and related gains or losses are reported as a component of equity in income of joint ventures. Gains on sale of real estate are recognized using the full accrual or partial sale methods, as applicable, in accordance with accounting principles generally accepted in the United States of America ("GAAP"), provided various criteria relating to the terms of sale and any subsequent involvement with the real estate sold are satisfied. There were no disposals reported as discontinued operations for the years ended December 31, 2015 or 2014. See Note 7, "Acquisitions, Dispositions, Impairment, and Discontinued Operations," for discussion of discontinued operations for the year ended December 31, 2013. Fair Value . For financial assets and liabilities recorded at fair value on a recurring or non-recurring basis, fair value is the price we would receive to sell an asset, or pay to transfer a liability, in an orderly transaction with a market participant at the measurement date. In the absence of such data, fair value is estimated using internal information consistent with what market participants would use in a hypothetical transaction. In determining fair value, observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions; preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: • Level 1: Quoted prices for identical instruments in active markets. • Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3: Significant inputs to the valuation model are unobservable. Recurring Fair Value Measurements. The valuation methodology we use to measure our deferred compensation plan investments is based on quoted market prices utilizing public information for the same transactions. Our deferred compensation plan investments are recorded at fair value on a recurring basis and included in other assets in our consolidated balance sheets. Non-recurring Fair Value Measurements. Certain assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments in certain circumstances. These assets primarily include long-lived assets which are recorded at fair value if they are impaired using the fair value methodologies used to measure long-lived assets described above at "Asset Impairment." Non-recurring fair value disclosures are not provided for impairments on assets disposed during the period because they are no longer owned by us. The inputs associated with the valuation of long-lived assets are generally included in Level 3 of the fair value hierarchy, unless a quoted price for a similar long-lived asset in an active market exists, at which time they are included in Level 2 of the fair value hierarchy. Financial Instrument Fair Value Disclosures. As of December 31, 2015 and 2014 , the carrying values of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and distributions payable represent fair value because of the short-term nature of these instruments. The carrying value of restricted cash approximates its fair value based on the nature of our assessment of the ability to recover these amounts. The carrying value of our notes receivable, which are included in other assets, net in our consolidated balance sheets, approximates their fair value. The estimated fair values are based on certain factors, such as market interest rates, terms of the note and credit worthiness of the borrower. These financial instruments utilize Level 3 inputs. In calculating the fair value of our notes payable, interest rate and spread assumptions reflect current credit worthiness and market conditions available for the issuance of notes payable with similar terms and remaining maturities. These financial instruments utilize Level 2 inputs. Income Recognition . Our rental and other property revenue is recorded when due from residents and is recognized monthly as it is earned. Other property revenue consists primarily of utility rebillings and administrative, application, and other transactional fees charged to our residents. Our apartment homes are rented to residents on lease terms generally ranging from six to fifteen months, with monthly payments due in advance. All other sources of income, including interest and fee and asset management income, are recognized as earned. Operations of multifamily properties acquired are recorded from the date of acquisition in accordance with the acquisition method of accounting. In management’s opinion, due to the number of residents, the types and diversity of submarkets in which our properties operate, and the collection terms, there is no significant concentration of credit risk. Reclassifications. Certain reclassifications have been made to amounts in prior period financial statements to conform to the current period presentation. We reclassified certain insignificant amounts in the consolidated statements of cash flows for the years ended December 31, 2014 and 2013. These reclassifications had no impact on our consolidated cash flows from operating, investing or financing activities. In addition, we also reclassified deferred financing charges relating to our unsecured credit facility and unsecured short-term borrowing facility to depreciation and amortization. All other deferred charges were reclassified to interest expense effective with our adoption of Accounting Standards Update 2015-03 ("ASU 2015-03"), "Simplifying the Presentation of Debt Issuance Costs," as discussed below in Recent Accounting Pronouncements. Insurance . Our primary lines of insurance coverage are property, general liability, health, and workers’ compensation. We believe our insurance coverage adequately insures our properties against the risk of loss attributable to fire, earthquake, hurricane, tornado, flood, and other perils and adequately insures us against other risks. Losses are accrued based upon our estimates of the aggregate liability for claims incurred using certain actuarial assumptions followed in the insurance industry and based on our experience. Other Assets, Net . Other assets in our consolidated financial statements include investments under deferred compensation plans, deferred financing costs, non-real estate leasehold improvements and equipment, notes receivable, prepaid expenses, the value of in-place leases net of related accumulated amortization, and other miscellaneous receivables. Investments under deferred compensation plans are classified as trading securities and are adjusted to fair market value at period end. For a further discussion of our investments under deferred compensation plans, see Note 10, “Share-based Compensation and Benefit Plans.” Deferred financing costs are related to our unsecured credit facility and unsecured short-term borrowing facility, and are amortized no longer than the terms of the related facilities on the straight-line method, which approximates the effective interest method. Corporate leasehold improvements and equipment are depreciated using the straight-line method over the shorter of the expected useful lives or the lease terms which generally range from three to ten years. Our notes receivable relate to real estate secured loans to unaffiliated third parties. At December 31, 2015 and 2014, we had outstanding notes receivable balances of approximately $13.2 million and $3.4 million , respectively, and the weighted average interest rate on such notes was approximately 4.1% and 4.3% for the years ended December 31, 2015 and 2014, respectively. At December 31, 2015, we were also committed to funding additional amounts under one of the loans in the amount of approximately $8.3 million . Interest is recognized over the lives of the notes and is included in interest and other income in our consolidated statements of income and comprehensive income. We consider a note receivable to be impaired if it is probable we will not collect all contractually due principal and interest. We do not accrue interest when a note is considered impaired and an allowance is recorded for any principal and previously accrued interest which is not believed to be collectible. All cash receipts on impaired notes are applied to reduce the principal amount of such notes until the principal has been recovered and, thereafter, are recognized as interest income. There were no impairments as of December 31, 2015 or 2014. Reportable Segments . We operate in a single reportable segment which includes the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Each of our operating properties is considered a separate operating segment as each property earns revenues and incurs expenses, individual operating results are reviewed and discrete financial information is available. We do not distinguish or group our consolidated operations based on geography, size or type. Our multifamily apartment communities have similar long-term economic characteristics and provide similar products and services to our residents. Further, all material operations are within the United States and no multifamily apartment community comprises more than 10% of consolidated revenues. As a result, our operating properties are aggregated into a single reportable segment. Our multifamily communities generate rental revenue and other income through the leasing of apartment homes, which comprised approximately 99% of our total property revenues and total non-property income, excluding income on deferred compensation plans, for each of the years ended December 31, 2015 and 2014, and 98% for the year ended December 31, 2013 . Restricted Cash . Restricted cash consists of escrow deposits held by lenders for property taxes, insurance and replacement reserves, cash required to be segregated for the repayment of residents’ security deposits, and escrowed amounts related to our development and acquisition activities. Substantially all restricted cash is invested in demand and short-term instruments. Share-based Compensation . Compensation expense associated with share-based awards is recognized in our consolidated statements of income and comprehensive income using the grant-date fair values. Compensation cost for all share-based awards, including options, requires measurement at estimated fair value on the grant date and recognition of compensation expense over the requisite service period for awards expected to vest. The fair value of stock option grants is estimated using the Black-Scholes valuation model. Valuation models require the input of assumptions, including judgments to estimate the expected stock price volatility, expected life, and forfeiture rate. The compensation cost for share-based awards is based on the market value of the shares on the date of grant. Use of Estimates . In the application of GAAP, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities at the date of the financial statements, results of operations during the reporting periods, and related disclosures. Our more significant estimates include estimates supporting our impairment analysis related to the carrying values of our real estate assets. These estimates are based on historical experience and other assumptions believed to be reasonable under the circumstances. Future events rarely develop exactly as forecasted, and the best estimates routinely require adjustment. Recent Accounting Pronouncements. In February 2015, the FASB issued Accounting Standards Update 2015-02 ("ASU 2015-02"), "Amendments to the Consolidation Analysis." ASU 2015-02 changes the analysis a reporting entity must perform to determine whether it should consolidate certain types of legal entities. ASU 2015-02 modifies whether limited partnerships and similar entities are VIEs or voting interest entities and eliminates the presumption a general partner should consolidate a limited partnership. Reporting entities which consolidate or hold a variable interest in a VIE as a result of this standard are subject to additional disclosure requirements. ASU 2015-02 is effective for us on January 1, 2016 and did not have a material impact on our consolidated financial statements. However, upon adoption, two of our consolidated operating partnerships, as discussed in Note 5, "Operating Partnerships," would now qualify as VIEs. As we would be considered the primary beneficiary, we would continue to consolidate these operating partnerships. In April 2015, the FASB issued ASU 2015-03, which requires all costs incurred to issue debt to be presented in the balance sheet as a direct deduction from the carrying value of the debt rather than being recorded as a deferred charge and presented as an asset. ASU 2015-03 also requires amortization of debt issuance costs to be reported as interest expense in the statement of income. In August 2015, the FASB issued Accounting Standards Update 2015-15 ("ASU 2015-15"), "Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements." ASU 2015-15 supplements the requirements of ASU 2015-03 by allowing an entity to defer and present debt issuance costs related to a line of credit arrangement as an asset and subsequently amortize the deferred costs ratably over the term of the line of credit arrangement. We adopted ASU 2015-03 effective December 31, 2015. Prior to adoption, we reported amortization expense of debt issuance costs as a separate line item in our consolidated statements of income. Upon our adoption of ASU 2015-03, debt issuance costs related to our unsecured credit facility and unsecured short-term borrowing facility continue to be presented within other assets, net on our consolidated balance sheets. However, the retrospective application required upon adoption of this ASU resulted in a reclassification of approximately $10.9 million and $12.9 million of debt issuance costs from other assets, net to a deduction from unsecured and secured notes payable in our consolidated balance sheets as of December 31, 2015 and 2014, respectively. The retrospective application upon adoption also resulted in a reclassification of approximately $1.7 million , $1.6 million and $1.7 million from amortization of deferred financing costs to a component of interest expense in our consolidated statements of income and comprehensive income for the years ended December 31, 2015, 2014, and 2013, respectively. In January 2016, the FASB issued Accounting Standards Update 2016-01 ("ASU 2016-01"), "Recognition and Measurement of Financial Assets and Financial Liabilities." ASU 2016-01 changes certain recognition, measurement, presentation, and disclosure requirements for financial instruments. This standard requires all equity investments, except those accounted for under the equity method of accounting or resulting in consolidation, to be measured at fair value with changes in fair value recognized in net income. This standard also simplifies the impairment assessment for equity investments without readily determinable fair values, amends the presentation requirements for changes in the fair value of financial liabilities, requires presentation of financial instruments by measurement category and form of financial asset, and eliminates the requirement to disclose the methods and significant assumptions used in estimating the fair value of financial instruments. ASU 2016-01 is effective for interim and annual periods beginning after December 15, 2017, and early adoption is not permitted except for the amended presentation requirements for changes in the fair value of financial liabilities. We expect to adopt ASU 2016-01 as of January 1, 2018, and do not expect it to have a material impact on our consolidated financial statements upon adoption. In May 2014, the FASB issued Accounting Standards Update 2014-09 ("ASU 2014-09"), "Revenue from Contracts with Customers." ASU 2014-09 provides a single comprehensive revenue recognition model for contracts with customers (excluding certain contracts, such as lease contracts) to improve comparability within industries. ASU 2014-09 requires an entity to recognize revenue to reflect the transfer of goods or services to customers at an amount the entity expects to be paid in exchange for those goods and services and provide enhanced disclosures, all to provide more comprehensive guidance for transactions such as service revenue and contract modifications. In August 2015, the FASB deferred the effective date of ASU 2014-09 by one year, and it is now effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted but not before the original effective date. ASU 2014-09 may be applied using either a full retrospective or a modified approach upon adoption. We expect to adopt this standard as of January 1, 2018 and we are currently evaluating the impact this standard may have on our consolidated financial statements. |
Per Share Data
Per Share Data | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Per Share Data | 3. Per Share Data Basic earnings per share are computed using net income attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflect common shares issuable from the assumed conversion of common share options and share awards granted and units convertible into common shares. Only those items having a dilutive impact on our basic earnings per share are included in diluted earnings per share. Our unvested share-based awards are considered participating securities and are reflected in the calculation of basic and diluted earnings per share using the two-class method. The number of common share equivalent securities excluded from the diluted earnings per share calculation was approximately 2.6 million , 2.8 million , and 2.1 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. These securities, which include common share options and share awards granted and units convertible into common shares, were excluded from the diluted earnings per share calculation as they are anti-dilutive. The following table presents information necessary to calculate basic and diluted earnings per share for the periods indicated: Year Ended December 31, (in thousands, except per share amounts) 2015 2014 2013 Earnings per common share calculation – basic Income from continuing operations attributable to common shareholders $ 249,315 $ 292,089 $ 151,594 Amount allocated to participating securities (2,052 ) (2,687 ) (3,177 ) Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities $ 247,263 $ 289,402 $ 148,417 Discontinued operations, including gain on sale, attributable to common shareholders — — 184,770 Net income attributable to common shareholders – basic $ 247,263 $ 289,402 $ 333,187 Earnings per common share from continuing operations $ 2.77 $ 3.29 $ 1.70 Earnings per common share from discontinued operations — — 2.12 Total earnings per common share – basic $ 2.77 $ 3.29 $ 3.82 Weighted average number of common shares outstanding – basic 89,120 88,084 87,204 Earnings per common share calculation – diluted Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities $ 247,263 $ 289,402 $ 148,417 Income allocated to common units from continuing operations — — 1,133 Income from continuing operations attributable to common shareholders, as adjusted $ 247,263 $ 289,402 $ 149,550 Discontinued operations, including gain on sale, attributable to common shareholders — — 184,770 Net income attributable to common shareholders – diluted $ 247,263 $ 289,402 $ 334,320 Earnings per common share from continuing operations $ 2.76 $ 3.27 $ 1.69 Earnings per common share from discontinued operations — — 2.09 Total earnings per common share – diluted $ 2.76 $ 3.27 $ 3.78 Weighted average number of common shares outstanding – basic 89,120 88,084 87,204 Incremental shares issuable from assumed conversion of: Common share options and share awards granted 370 384 476 Common units — — 814 Weighted average number of common shares outstanding – diluted 89,490 88,468 88,494 |
Common Shares
Common Shares | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Common Shares [Text Block] | 4. Common Shares In November 2014, we created an at-the market ("ATM") share offering program through which we can, but have no obligation to, sell common shares having an aggregate offering price of up to $331.3 million (the "2014 ATM program"), in amounts and at times as we determine, into the existing trading market at current market prices as well as through negotiated transactions. Actual sales from time to time may depend on a variety of factors including, among others, market conditions, the trading price of our common shares, and determinations by management of the appropriate sources of funding for us. We intend to use the net proceeds from any future sales under the 2014 ATM program for general corporate purposes, which may include reducing future borrowings under our unsecured credit facility or other short-term borrowings, the repayment of other indebtedness, the redemption or other repurchase of outstanding debt or equity securities, funding for development, redevelopment and investment projects and financing for acquisitions. There were no shares sold during the year ended December 31, 2015 under the 2014 ATM program. The following table presents activity under our 2014 ATM program for the year ended December 31, 2014: (in thousands, except per share amounts) Year Ended December 31, 2014 Total net consideration $ 15,690.2 Common shares sold 209.7 Average price per share $ 76.28 As of the date of this filing, we had common shares having an aggregate offering price of up to $315.3 million remaining available for sale under the 2014 ATM program. No shares were sold subsequent to December 31, 2015 through the date of this filing under the 2014 ATM program. In May 2012, we created an ATM share offering program through which we can, but have no obligation to, sell common shares having an aggregate offering price of up to $300 million (the "2012 ATM program"), in amounts and at times as we determine, into the existing trading market at current market prices as well as through negotiated transactions. The net proceeds resulting from the 2012 ATM program were used for general corporate purposes, which included repayment of outstanding balances on our unsecured credit facility and short-term borrowings, and funding for development, redevelopment, and capital improvement activities. The 2012 ATM program terminated in the fourth quarter of 2014, and no further common shares are available for sale under the 2012 ATM program. The following table presents activity under our 2012 ATM program for the periods presented: Year Ended December 31, (in thousands, except per share amounts) 2014 2013 Total net consideration $ 50,535.3 $ 40,044.1 Common shares sold 688.3 555.1 Average price per share $ 74.60 $ 73.73 In January 2008, our Board of Trust Managers approved an increase of the April 2007 repurchase plan to allow for the repurchase of up to $500 million of our common equity securities through open market purchases, block purchases, and privately negotiated transactions. Under this program, we repurchased 4.3 million shares for a total of approximately $230.2 million from April 2007 through December 31, 2008 and there have not been any shares repurchased subsequent to that date. As of the date of this filing, the remaining dollar value of our common equity securities authorized to be repurchased under the program was approximately $269.8 million . We currently have an automatic shelf registration statement which allows us to offer, from time to time, common shares, preferred shares, debt securities, or warrants. Our Amended and Restated Declaration of Trust provides we may issue up to 185 million shares of beneficial interest, consisting of 175 million common shares and 10 million preferred shares. At December 31, 2015 , we had approximately 86.9 million common shares outstanding, net of treasury shares and shares held in our deferred compensation arrangements, and no preferred shares outstanding. |
Operating Partnerships
Operating Partnerships | 12 Months Ended |
Dec. 31, 2015 | |
Operating Partnerships [Abstract] | |
Operating Partnerships [Text Block] | 5. Operating Partnerships At December 31, 2015 , approximately 7% of our consolidated multifamily apartment homes were held in Camden Operating, L.P. (“Camden Operating” or the “operating partnership”). Camden Operating has 11.9 million outstanding common limited partnership units and as of December 31, 2015 , we held 92.2% of the outstanding common limited partnership units and the sole 1% general partnership interest of the operating partnership. The remaining common limited partnership units, comprising approximately 0.8 million units, are primarily held by former officers, directors, and investors of Paragon Group, Inc., which we acquired in 1997. Each common limited partnership unit is redeemable for one common share of Camden or cash at our election. Holders of common limited partnership units are not entitled to rights as shareholders prior to redemption of their common limited partnership units. No member of our management owns Camden Operating common limited partnership units, and one of our ten trust managers owns Camden Operating common limited partnership units. At December 31, 2015 , approximately 31% of our consolidated multifamily apartment homes were held in Camden Summit Partnership, L.P. (the “Camden Summit Partnership”). The Camden Summit Partnership has 22.8 million outstanding common limited partnership units and as of December 31, 2015 , we held 94.2% of the outstanding common limited partnership units and the sole 1% general partnership interest of the Camden Summit Partnership. The remaining common limited partnership units, comprising approximately 1.1 million units, are primarily held by former officers, directors, and investors of Summit Properties Inc. which we acquired in 2005. Each common limited partnership unit is redeemable for one common share of Camden or cash at our election. Holders of common limited partnership units are not entitled to rights as shareholders prior to redemption of their common limited partnership units. No member of our management owns Camden Summit Partnership common limited partnership units, and two of our ten trust managers own Camden Summit Partnership common limited partnership units. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 6. Income Taxes We have maintained and intend to maintain our election as a REIT under the Internal Revenue Code of 1986, as amended. In order for us to continue to qualify as a REIT we must meet a number of organizational and operational requirements, including a requirement to distribute annual dividends to our shareholders equal to a minimum of 90% of our adjusted taxable income. As a REIT, we generally will not be subject to federal income tax on our taxable income at the corporate level to the extent such income is distributed to our shareholders annually. If our taxable income exceeds our dividends in a tax year, REIT tax rules allow us to designate dividends from the subsequent tax year in order to avoid current taxation on undistributed income. If we fail to qualify as a REIT in any taxable year, we will be subject to federal and state income taxes at regular corporate rates, including any applicable alternative minimum tax. In addition, we may not be able to requalify as a REIT for the four subsequent taxable years. Historically, we have incurred only state and local income, franchise, and excise taxes. Taxable income from non-REIT activities managed through taxable REIT subsidiaries is subject to applicable federal, state, and local income taxes. Our operating partnerships are flow-through entities and are not subject to federal income taxes at the entity level. We have recorded income, franchise, and excise taxes in the consolidated statements of income and comprehensive income for the years ended December 31, 2015 , 2014 and 2013 as income tax expense. Income taxes for the years ended December 31, 2015 , 2014 and 2013 , primarily related to state income tax and federal taxes on certain of our taxable REIT subsidiaries. We have no significant temporary or permanent differences or tax credits associated with our taxable REIT subsidiaries. For income tax purposes, distributions to common shareholders are characterized as ordinary income, capital gains or as a return of a shareholder's invested capital. A summary of the income tax characterization of our distributions paid per common share for the years ended December 31, 2015, 2014 and 2013 is set forth in the following table: Year Ended December 31, 2015 2014 2013 Common Share Distributions Ordinary income $ 1.88 $ 1.23 $ 1.40 Long-term capital gain 0.70 1.02 0.76 Unrecaptured Sec. 1250 gain 0.22 0.39 0.36 Total $ 2.80 $ 2.64 $ 2.52 Percentage of distributions representing tax preference items 3.73 % 4.17 % 4.95 % We have taxable REIT subsidiaries which are subject to federal and state income taxes. At December 31, 2015 , our taxable REIT subsidiaries had net operating loss carryforwards (“NOL’s”) of approximately $22.7 million which expire in years 2030 to 2035 . Because NOL’s are subject to certain change of ownership, continuity of business, and separate return year limitations, and because we believe it is unlikely the available NOL’s will be utilized or if utilized, any amounts will be immaterial, no benefits related to these NOL’s have been recognized in our consolidated financial statements. The carrying value of net assets reported in our consolidated financial statements at December 31, 2015 exceeded the tax basis by approximately $1.4 billion . Income Tax Expense . For each of the tax years ended December 31, 2015 and 2014 , we had income tax expense of approximately $1.9 million , and for the tax year ended December 31, 2013 , we had income tax expense of approximately $1.8 million . Income tax for the years ended December 31, 2015 , 2014 , and 2013 was comprised mainly of state income tax, and federal income tax related to one of our taxable REIT subsidiaries. Income Tax Expense – Deferred . For the years ended December 31, 2015 , 2014 , and 2013 , our deferred tax expense was not significant. Camden Property Trust's and our subsidiaries’ income tax returns are subject to examination by federal, state and local tax jurisdictions for years 2012 through 2014 . Net income tax loss carryforwards and other tax attributes generated in years prior to 2012 are also subject to challenge in any examination of those tax years. We believe we have no uncertain tax positions or unrecognized tax benefits requiring disclosure as of and for the periods presented. |
Acquisitions, Dispositions, Imp
Acquisitions, Dispositions, Impairment, and Discontinued Operations | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Acquisitions, Dispositions, Impairment, and Discontinued Operations [Text Block] | 7. Acquisitions, Dispositions, Impairment, and Discontinued Operations Acquisitions of Operating Properties . We did not acquire any operating properties during the year ended December 31, 2015 . During 2014, we acquired one operating property comprised of 276 units located in Atlanta, Georgia for approximately $62.6 million . The following table summarizes the fair values of the assets acquired and liabilities assumed for the acquisition of the operating property described above as of the acquisition date: (in millions) 2014 Assets acquired: Buildings and improvements $ 51.3 Land 10.5 Intangible and other assets 0.9 Total assets acquired $ 62.7 Liabilities assumed: Other liabilities $ 0.4 Total liabilities assumed $ 0.4 Net assets acquired $ 62.3 The related assets, liabilities, and results of operations for this acquisition are included in the consolidated financial statements from the date of acquisition. There was no contingent consideration associated with this acquisition. The operating property acquired in 2014 as discussed above contributed revenues of approximately $0.8 million and property expenses of approximately $0.3 million from its acquisition date through December 31, 2014 . Acquisitions of Land. During the year ended December 31, 2015, we acquired approximately 58.1 acres of land located in Phoenix, Arizona, Los Angeles, California, and Gaithersburg, Maryland for approximately $59.1 million . During the year ended December 31, 2014, we acquired approximately 10.5 acres of land located in Houston, Texas and Rockville, Maryland for approximately $39.4 million . Acquisition of Non-controlling Ownership Interest. In March 2015, we purchased the remaining 0.01% non-controlling interest in two fully consolidated joint ventures, which own an aggregate of 798 apartment homes located in College Park, Maryland and Irvine, California, for approximately $9.5 million . The acquisitions of the remaining ownership interests were recorded as equity transactions and, as a result, the carrying balances of the non-controlling interest were eliminated and the remaining difference between the purchase price and carrying balance was recorded as a reduction in additional paid-in capital. See Note 14, "Non-controlling Interests," for the effect of changes in ownership interests of these former joint ventures on the equity attributable to common shareholders. Land Holding Dispositions and Impairment. During the year ended December 31, 2015, we sold two land holdings adjacent to operating properties in Dallas and Houston, Texas for approximately $1.1 million and recognized a gain of approximately $0.3 million related to these land sales. In July 2014, we sold approximately 2.4 acres of land adjacent to an operating property in Dallas, Texas for approximately $0.8 million . We recognized a $1.2 million impairment charge related to this land parcel in June 2014, which represented the difference between the land holding’s carrying value and the fair value based upon the sales contract. During the year ended December 31, 2014 , we also sold approximately 26.9 acres of land adjacent to current development and operating communities located in Atlanta, Georgia and Houston and Dallas, Texas for approximately $22.9 million and recognized a gain of approximately $3.6 million related to these land sales. Sale of Operating Properties . In January 2015, we sold two operating properties, which were included in properties held for sale at December 31, 2014, comprised of 1,116 apartment homes located in Tampa, Florida and Austin, Texas for approximately $114.4 million and we recognized a gain of approximately $85.1 million relating to these property sales. In October 2015, we sold one operating property comprised of 260 apartment homes located in Brandon, Florida for approximately $33.0 million , and we recognized a gain of approximately $18.9 million relating to this property sale. During the year ended December 31, 2014 , we sold five operating properties comprised of 1,847 apartment homes located in Atlanta, Georgia, Dallas, Texas, Orlando and Tampa, Florida and Charlotte, North Carolina for approximately $218.3 million and we recognized a gain of approximately $155.7 million relating to these property sales. Discontinued Operations. For the year ended December 31, 2013 , income from discontinued operations included the results of operations of 12 operating properties, comprised of 3,931 apartment homes, sold during 2013 . There were no discontinued operations during the years ended December 31, 2015 or 2014 . The following is a summary of income from discontinued operations for the year ended December 31, 2013 : Year Ended December 31, (in thousands) 2013 Property revenues $ 24,322 Property expenses (10,552 ) $ 13,770 Depreciation and amortization (5,255 ) Income from discontinued operations $ 8,515 Gain on sale of discontinued operations, net of tax $ 182,160 Less income, including gain on sale, allocated to non-controlling interests from discontinued operations (5,905 ) Income from discontinued operations, including gain on sale, attributable to common shareholders $ 184,770 |
Investments In Joint Ventures
Investments In Joint Ventures | 12 Months Ended |
Dec. 31, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments In Joint Ventures | 8. Investments in Joint Ventures Our equity investments in unconsolidated joint ventures, which we account for utilizing the equity method of accounting, consisted of three discretionary investment funds (collectively, "the funds") at December 31, 2015 , and two funds at December 31, 2014 and 2013 . Our ownership interest in each of the first two funds was 31.3% at December 31, 2015 and 2014 , and was 20% at December 31, 2013 . In March 2015, we completed the formation of a third fund with an unaffiliated third party for additional multifamily investments of up to $450.0 million . Our ownership interest in this fund was 20% as of December 31, 2015 ; this fund did not own any properties at such date. We provide property and asset management and other services to the funds which own operating properties and we may also provide construction and development services to the funds which own properties under development. The following table summarizes the combined balance sheet and statement of income data for the funds as of and for the periods presented: (in millions) 2015 2014 Total assets (1) $ 748.0 $ 756.9 Total third-party debt (1) 527.0 522.7 Total equity 195.3 203.3 2015 2014 2013 Total revenues (2) $ 114.5 $ 105.6 $ 93.9 Gain on sale of operating properties, net of tax — 18.5 112.4 Net income 12.0 26.9 120.7 Equity in income (3) 6.2 7.0 24.9 (1) All periods presented have been changed to reflect the funds' adoption of ASU 2015-03 (as supplemented by ASU 2015-15) at December 31, 2015, which required retrospective application. (2) Excludes approximately $1.1 million and $7.4 million of revenue for the years ended December 31, 2014 and 2013, respectively, related to the sale of two operating properties by the funds during the first quarter of 2014. These properties were held for sale within two of our unconsolidated joint ventures at December 31, 2013. Also excludes approximately $17.9 million related to discontinued operations from the sale of 16 operating properties within two of our unconsolidated joint ventures during 2013. (3) Equity in income excludes our ownership interest of fee income from various services provided by us to the funds. In December 2014, the partnership agreements for two of the funds were amended, resulting in the extension of the term of each fund to December 31, 2026 and our ownership interests in the funds were increased from 20% to 31.3% effective December 23, 2014. The funds in which we have a partial interest have been funded in part with secured third-party debt. As of December 31, 2015 , we had no outstanding guarantees related to loans of the funds. We may earn fees for property and asset management, construction, development, and other services related to joint ventures in which we own an equity interest and may earn a promoted equity interest if certain thresholds are met. We eliminate fee income for services provided to these joint ventures to the extent of our ownership. Fees earned for these services, net of eliminations, were approximately $5.8 million , $8.8 million , and $10.0 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. In February 2014, two of the funds each sold an operating property, comprised of 558 apartment homes, for approximately $65.6 million . Our proportionate share of the gains on these transactions was approximately $3.6 million and was reported as a component of equity in income of joint ventures in the consolidated statements of income and comprehensive income. |
Notes Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2015 | |
Notes Payable [Abstract] | |
Notes Payable | 9. Notes Payable The following is a summary of our indebtedness, which also reflects the retrospective application of our adoption of ASU 2015-03 (as supplemented by ASU 2015-15) as more fully described in Note 2, "Summary of Significant Accounting Policies and Recent Accounting Pronouncements": December 31, (in millions) 2015 2014 Commercial banks Unsecured credit facility $ 225.0 $ — Unsecured short-term borrowings 19.0 — $ 244.0 $ — Senior unsecured notes (1) 5.08% Notes, due 2015 $ — $ 249.8 5.83% Notes, due 2017 246.3 246.0 4.78% Notes, due 2021 248.0 247.7 3.15% Notes, due 2022 345.4 344.7 5.07% Notes, due 2023 246.8 246.5 4.36% Notes, due 2024 248.0 247.7 3.68% Notes, due 2024 246.4 246.1 $ 1,580.9 $ 1,828.5 Total unsecured notes payable 1,824.9 1,828.5 Secured notes (1) 1.12% – 5.77% Conventional Mortgage Notes, due 2018 – 2045 867.4 868.0 Tax-exempt Mortgage Note, due 2028 (1.43% floating rate) 32.4 34.1 899.8 902.1 Total notes payable $ 2,724.7 $ 2,730.6 Other floating rate debt included in secured notes (1.12%) $ 175.0 $ 175.0 Value of real estate assets, at cost, subject to secured notes $ 1,568.9 $ 1,541.3 (1) Unamortized debt discounts and debt issuance costs of $18.6 million and $21.8 million are included in senior unsecured and secured notes payable as of December 31, 2015 and 2014, respectively. In August 2015, we replaced our $500 million unsecured credit facility with an amended and restated facility, which extended the maturity date from September 2015 to August 2019 , with two six-month options to extend the maturity date at our election to August 2020 , and increased the availability to $600 million , with the option to further increase it to $900 million by either adding additional banks to the facility or obtaining the agreement of the existing banks to increase their commitments. The interest rate on this credit facility is based upon the London Interbank Offered Rate ("LIBOR") plus a margin which is subject to change as our credit ratings change. Advances under this credit facility may be priced at the scheduled rates, or we may enter into bid rate loans with participating banks at rates below the scheduled rates. These bid rate loans have terms of 180 days or less and may not exceed the lesser of $300 million or the remaining amount available under the credit facility. This credit facility is subject to customary financial covenants and limitations. We believe we are in compliance with all such financial covenants and limitations on the date of this filing. Our credit facility provides us with the ability to issue up to $50 million in letters of credit. While our issuance of letters of credit does not increase our borrowings outstanding under our credit facility, it does reduce the amount available. At December 31, 2015, we had approximately $225.0 million outstanding on our $600 million credit facility and we had outstanding letters of credit totaling approximately $9.4 million , leaving approximately $365.6 million available under our credit facility. In May 2015, we entered into a $40 million unsecured short-term borrowing facility which matures in May 2016 . The interest rate is based upon LIBOR plus 1.05% . At December 31, 2015, we had approximately $19.0 million outstanding on this unsecured short-term borrowing facility. In June 2015, we used cash and borrowings from our existing unsecured credit facility to repay the principal amount of our 5.08% senior unsecured notes payable, which was scheduled to mature on June 15, 2015 , for a total of $250.0 million , plus accrued interest. At December 31, 2015 and 2014 , we had outstanding floating rate debt of approximately $451.4 million and $209.1 million , respectively, which included our unsecured credit facility and unsecured short-term borrowings, and the weighted average interest rate on such debt was approximately 1.2% and 1.0% for the years ended December 31, 2015 and 2014 , respectively. Our indebtedness, which includes our unsecured credit facility and unsecured short term borrowings, had a weighted average maturity of 5.7 years at December 31, 2015 . The table below is a summary of the maturity dates of our outstanding debt and principal amortizations, and the weighted average interest rates on such debt, at December 31, 2015 : (in millions) Amount Weighted Average Interest Rate 2016 (1) $ 19.0 1.5 % 2017 247.2 5.8 2018 175.8 1.1 2019 (2) 870.2 4.3 2020 1.1 — Thereafter 1,411.4 4.1 Total $ 2,724.7 4.1 % (1) Includes $19.0 million of unsecured short-term borrowings. (2) Includes $225.0 million balance outstanding under our unsecured credit facility. |
Share-Based Compensation and Be
Share-Based Compensation and Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
Share-based Compensation [Abstract] | |
Share-Based Compensation and Benefit Plans | 10. Share-based Compensation and Benefit Plans Incentive Compensation. During the second quarter of 2011, our Board of Trust Managers adopted, and our shareholders approved, the 2011 Share Incentive Plan of Camden Property Trust (as amended, the “2011 Share Plan”). Under the 2011 Share Plan, we may issue up to a total of approximately 9.1 million fungible units (the “Fungible Pool Limit”), which is comprised of approximately 5.8 million new fungible units plus approximately 3.3 million fungible units previously available for issuance under our 2002 share incentive plan based on a 3.45 to 1.0 fungible unit to full value award conversion ratio. Fungible units represent the baseline for the number of shares available for issuance under the 2011 Share Plan. Different types of awards are counted differently against the Fungible Pool Limit, as follows: • Each share issued or to be issued in connection with an award, other than an option, right or other award which does not deliver the full value at grant of the underlying shares, will be counted against the Fungible Pool Limit as 3.45 fungible pool units; • Options and other awards which do not deliver the full value at grant of the underlying shares and which expire more than five years from date of grant will be counted against the Fungible Pool Limit as one fungible pool unit; and • Options, rights and other awards which do not deliver the full value at grant and expire five years or less from the date of grant will be counted against the Fungible Pool Limit as 0.83 of a fungible pool unit. At December 31, 2015 , approximately 4.6 million fungible units were available under the 2011 Share Plan, which results in approximately 1.3 million common shares which may be granted pursuant to full value awards based on the 3.45 to 1.0 fungible unit to full value award conversion ratio. Awards which may be granted under the 2011 Share Plan include incentive share options, non-qualified share options (which may be granted separately or in connection with an option), share awards, dividends and dividend equivalents and other equity based awards. Persons eligible to receive awards under the 2011 Share Plan are trust managers, directors of our affiliates, executive and other officers, key employees and consultants, as determined by the Compensation Committee of our Board of Trust Managers. The 2011 Share Plan will expire on May 11, 2021. Options. New options are exercisable, subject to the terms and conditions of the plan, in increments ranging from 20% to 33.33% per year on each of the anniversaries of the date of grant. The plan provides that the exercise price of an option will be determined by the Compensation Committee of the Board of Trust Managers on the day of grant, and to date all options have been granted at an exercise price that equals the fair market value on the date of grant. Approximately 0.1 million and 0.4 million options were exercised during the years ended December 31, 2015 and 2014 , respectively. The total intrinsic value of options exercised was approximately $2.0 million , $7.4 million , and $5.3 million during the years ended December 31, 2015 , 2014 and 2013 , respectively. At December 31, 2015 , there was no unrecognized compensation cost related to unvested options. At December 31, 2015 , all options outstanding were exercisable and had a weighted average remaining life of approximately 3.1 years. The following table summarizes outstanding share options, all of which were exercisable, at December 31, 2015 : Options Outstanding and Exercisable (1) Range of Exercise Prices Number Weighted Average Price $30.06 105,015 $ 30.06 $41.16 - $43.94 119,242 42.46 $48.02 - $75.17 70,948 60.92 Total options 295,205 $ 42.49 (1) The aggregate intrinsic value of options outstanding and exercisable at December 31, 2015 was approximately $ 10.1 million . The aggregate intrinsic value was calculated as the excess, if any, between our closing share price of $ 76.76 per share on December 31, 2015 and the strike price of the underlying award. Options Granted and Valuation Assumptions. During the years ended December 31, 2015 and 2014 , we granted approximately 26.8 thousand and 84.5 thousand reload options, respectively. There were no reload options granted during the year ended December 31, 2013. Reload options are granted for the number of shares tendered as payment for the exercise price upon the exercise of an option with a reload provision. The reload options granted have an exercise price equal to the fair market value of a common share on the date of grant and expire on the same date as the original options which were exercised. The reload options granted during the years ended December 31, 2015 and 2014 vested immediately. Approximately $0.2 million and $0.3 million was expensed in 2015 and 2014, respectively, on the reload date. We estimate the fair values of each option award including reloads on the date of grant using the Black-Scholes option pricing model. The following assumptions were used for the reload options granted during the years ended December 31, 2015 and 2014 : Year Ended Year Ended December 31, 2014 Weighted average fair value of options granted $5.52 - $7.38 $3.55 - $8.17 Expected volatility 16.5% - 18.8% 22.6% - 23.2% Risk-free interest rate 1.0% - 1.3% 0.1% - 1.1% Expected dividend yield 3.5% - 3.7% 3.5% Expected life 3 years - 4 years 6 months - 4 years Our computations of expected volatility for 2015 and 2014 are based on the historical volatility of our common shares over a time period equal to the expected life of the option and ending on the grant date, and the interest rate for periods within the contractual life of the award is based on the U.S. Treasury yield curve in effect at the time of grant. The expected dividend yield on our common shares is based on the historical dividend yield over the expected term of the options granted. Our computation of expected life is based upon historical experience of similar awards, giving consideration to the contractual terms of the share-based awards. Share Awards and Vesting. Share awards for employees generally have a vesting period of three to five years. The compensation cost for share awards is generally based on the market value of the shares on the date of grant and is amortized over the vesting period. In the event the holder of the share awards will reach both the retirement eligibility age of 65 years and the service requirements as defined in the 2011 Share Plan before the term in which the awards are scheduled to vest, the value of the share awards is amortized from the date of grant to the individual's retirement eligibility date. To estimate forfeitures, we use actual forfeiture history. At December 31, 2015 , the unamortized value of previously issued unvested share awards was approximately $31.7 million which is expected to be amortized over the next three years. The total fair value of shares vested during the years ended December 31, 2015 , 2014 and 2013 was approximately $19.2 million , $ 17.1 million , and $ 15.9 million , respectively. Total compensation cost for option and share awards charged against income was approximately $18.6 million , $ 16.0 million , and $ 14.7 million for 2015 , 2014 and 2013 , respectively. Total capitalized compensation cost for option and share awards was approximately $3.5 million , $ 2.7 million , and $ 2.2 million for 2015 , 2014 and 2013 , respectively. The following table summarizes activity under our share incentive plans for the three years ended December 31: Options Outstanding Weighted Average Exercise / Grant Price Nonvested Share Awards Outstanding Weighted Average Exercise / Grant Price Options and nonvested share awards outstanding at December 31, 2012 838,754 $ 42.36 862,253 $ 52.64 Granted — — 350,615 69.56 Exercised/Vested (183,871 ) 41.56 (309,396 ) 51.41 Forfeited (20,522 ) 73.32 (72,174 ) 58.08 Balance at December 31, 2013 634,361 $ 41.59 831,298 $ 59.77 Granted 84,452 64.75 314,614 65.78 Exercised/Vested (375,316 ) 47.85 (305,372 ) 55.97 Forfeited (21,686 ) 62.32 (21,597 ) 64.14 Balance at December 31, 2014 321,811 $ 38.97 818,943 $ 63.39 Granted 26,752 75.17 257,749 74.53 Exercised/Vested (53,358 ) 37.69 (313,628 ) 61.10 Forfeited — — (12,818 ) 67.96 Total options and nonvested share awards outstanding at December 31, 2015 295,205 $ 42.49 750,246 $ 68.09 Employee Share Purchase Plan (“ESPP”). We have established an ESPP for all active employees and officers who have completed one year of continuous service. Participants may elect to purchase our common shares through payroll deductions and/or through semi-annual contributions. At the end of each six-month offering period, each participant’s account balance is applied to acquire common shares at 85% of the market value, as defined, on the first or last day of the offering period, whichever price is lower. We currently use treasury shares to satisfy ESPP share requirements. Each participant must hold the shares purchased for nine months in order to receive the discount, and a participant may not purchase more than $25,000 in value of shares during any plan year, as defined. The following table presents information related to our ESPP: 2015 2014 2013 Shares purchased 14,655 25,728 17,171 Weighted average fair value of shares purchased $ 74.66 $ 71.19 $ 62.59 Expense recorded (in millions) $ 0.2 $ 0.5 $ 0.2 Rabbi Trust. We established a rabbi trust for a select group of participants in which share awards granted under the share incentive plan and salary and other cash amounts earned may be deposited. The rabbi trust is only in use for deferrals made prior to 2005, including bonuses related to service in 2004 but paid in 2005. The rabbi trust is an irrevocable trust and no portion of the trust fund may be used for any purpose other than the delivery of those assets to the participants. The assets held in the rabbi trust are subject to the claims of our general creditors in the event of bankruptcy or insolvency. The value of the assets of the rabbi trust is consolidated into our financial statements. Granted share awards held by the rabbi trust are classified in equity in a manner similar to the manner in which treasury stock is accounted. Subsequent changes in the fair value of the shares are not recognized. The deferred compensation obligation is classified as an equity instrument and changes in the fair value of the amount owed to the participant are not recognized. At December 31, 2015 and 2014 , approximately 1.8 million share awards were held in the rabbi trust. Additionally, as of December 31, 2015 and 2014 , the rabbi trust held trading securities totaling approximately $ 37.1 million and $ 43.7 million , respectively, which represents cash deferrals made by plan participants. Market value fluctuations on these trading securities are recognized in income in accordance with GAAP and the liability due to participants is adjusted accordingly. At December 31, 2015 and 2014 , approximately $ 23.6 million and $ 24.7 million , respectively, was required to be paid to us by plan participants upon the withdrawal of any assets from the rabbi trust, and is included in “Accounts receivable-affiliates” in our consolidated financial statements. Non-Qualified Deferred Compensation Plan. In 2004, we established a Non-Qualified Deferred Compensation Plan which is an unfunded arrangement established and maintained primarily for the benefit of a select group of participants. Eligible participants commence participation in this plan on the date the deferral election first becomes effective. We credit to the participant’s account an amount equal to the amount designated as the participant’s deferral for the plan year as indicated in the participant’s deferral election(s). Any modification to or termination of the plan will not reduce a participant’s right to any vested amounts already credited to his or her account. Approximately 1.3 million and 1.2 million share awards were held in the plan at December 31, 2015 and 2014 , respectively. Additionally, as of December 31, 2015 and 2014 , the plan held trading securities totaling approximately $ 30.8 million and $ 27.7 million , respectively, which represents cash deferrals made by plan participants. Market value fluctuations on these trading securities are recognized in income in accordance with GAAP and the liability due to participants is adjusted accordingly. The assets held in the Non-Qualified Deferred Compensation Plan are subject to the claims of our general creditors in the event of bankruptcy or insolvency. In July 2013, we amended and restated the plan to permit diversification of fully vested share awards into other equity securities subject to a six month holding period. In February 2014, we adopted the Second Amended and Restated Camden Property Trust Non-Qualified Deferred Compensation Plan to clarify certain terms in the existing plan relating to the deferral of performance based compensation. As a result of such action, the fully vested awards and the proportionate share of nonvested awards eligible for diversification were reclassified from additional paid in capital to temporary equity in our consolidated balance sheets. The share awards are adjusted to their redemption value at each reporting period, with the redemption value based on the market value of the shares at the end of the reporting period. Changes in value from period to period are charged to distributions in excess of net income attributable to common shareholders in our consolidated statements of equity. The following table summarizes the eligible share award activity as recorded in temporary equity for the years ended December 31: (in thousands) Year Ended December 31, 2015 Year Ended December 31, 2014 Temporary equity: Balance at inception/beginning of period $ 68,134 $ 47,180 Change in classification 10,999 7,702 Change in redemption value 3,788 17,921 Diversification of share awards (3,557 ) (4,669 ) Balance at December 31 $ 79,364 $ 68,134 401(k) Savings Plan. We have a 401(k) savings plan, which is a voluntary defined contribution plan. Under the savings plan, every employee is eligible to participate, beginning on the date the employee has completed six months of continuous service with us. Each participant may make contributions to the savings plan by means of a pre-tax salary deferral, which may not be less than 1% or more than 60% of the participant’s compensation, subject to limitations. The federal tax code limits the annual amount of salary deferrals which may be made by any participant. We may make matching contributions on the participant’s behalf up to a predetermined limit. The matching contribution made for each of the years ended December 31, 2015 , 2014 and 2013 was approximately $2.6 million , $2.2 million and $2.2 million , respectively. A participant’s salary deferral contribution is 100% vested and nonforfeitable. A participant will become vested in our matching contributions 33% after one year of service, 67% after two years of service and 100% after three years of service. Administrative expenses under the savings plan were paid by us and were not significant for all periods presented. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 11. Fair Value Measurements Recurring Fair Value Disclosures. The following table presents information about our financial instruments measured at fair value on a recurring basis as of December 31, 2015 and 2014 using the inputs and fair value hierarchy discussed in Note 2, “Summary of Significant Accounting Policies and Recent Accounting Pronouncements”: Financial Instruments Measured at Fair Value on a Recurring Basis December 31, 2015 December 31, 2014 (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Deferred compensation plan investments (1) $ 53.6 $ — $ — $ 53.6 $ 56.1 $ — $ — $ 56.1 (1) Approximately $8.4 million and $1.5 million of participant cash was withdrawn from our deferred compensation plan investments during the years ended December 31, 2015 and 2014, respectively. Nonrecurring Fair Value Disclosures. The nonrecurring fair value disclosures inputs under the fair value hierarchy are discussed in Note 2, “Summary of Significant Accounting Policies and Recent Accounting Pronouncements.” There were no non-recurring fair value adjustments during the years ended December 31, 2015 or 2014 . Financial Instrument Fair Value Disclosures. The following table presents the carrying and estimated fair values of our notes payable at December 31, 2015 and 2014, in accordance with the policies discussed in Note 2, "Summary of Significant Accounting Policies and Recent Accounting Pronouncements." December 31, 2015 December 31, 2014 (in millions) Carrying Value (1) Estimated Fair Value Carrying Value (1) Estimated Fair Value Fixed rate notes payable $ 2,273.3 $ 2,358.8 $ 2,521.5 $ 2,666.1 Floating rate notes payable (2) 451.4 441.3 209.1 203.7 (1) All amounts presented have been changed to reflect our adoption of ASU 2015-03 (as supplemented by ASU 2015-15) at December 31, 2015, which required retrospective application. (2) Includes balances outstanding under our unsecured credit facility and unsecured short-term borrowings. |
Net Change In Operating Account
Net Change In Operating Accounts | 12 Months Ended |
Dec. 31, 2015 | |
Increase (Decrease) in Operating Capital [Abstract] | |
Net Change In Operating Accounts | 12. Net Change in Operating Accounts The effect of changes in the operating accounts and other on cash flows from operating activities is as follows: Year Ended December 31, (in thousands) 2015 2014 2013 Change in assets: Other assets, net $ (1,648 ) $ (2,145 ) $ (2,639 ) Change in liabilities: Accounts payable and accrued expenses (15,528 ) 19,296 (8,138 ) Accrued real estate taxes 6,386 4,009 7,165 Other liabilities 2,306 (1,666 ) 22,139 Other 2,773 2,583 2,706 Change in operating accounts and other $ (5,711 ) $ 22,077 $ 21,233 |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | 13. Commitments and Contingencies Construction Contracts. As of December 31, 2015 , we estimate the additional cost to complete the eight consolidated projects currently under construction to be approximately $310.1 million . We expect to fund this amount through a combination of one or more of the following: cash flows generated from operations, draws on our unsecured credit facilities, proceeds from property dispositions, the use of debt and equity offerings under our automatic shelf registration statement, equity issued from our ATM program, other unsecured borrowings, and secured mortgages. Litigation . We are also subject to various legal proceedings and claims which arise in the ordinary course of business. Matters which arise out of allegations of bodily injury, property damage, and employment practices are generally covered by insurance. While the resolution of these legal proceedings and claims cannot be predicted with certainty, management believes the final outcome of such matters will not have a material adverse effect on our consolidated financial statements. Other Commitments and Contingencies. In the ordinary course of our business, we issue letters of intent indicating a willingness to negotiate for acquisitions, dispositions, or joint ventures and also enter into arrangements contemplating various transactions. Such letters of intent and other arrangements are non-binding as to either party unless and until a definitive contract is entered into by the parties. Even if definitive contracts relating to the purchase or sale of real property are entered into, these contracts generally provide the purchaser with time to evaluate the property and conduct due diligence, during which periods the purchaser will have the ability to terminate the contracts without penalty or forfeiture of any deposit or earnest money. There can be no assurance definitive contracts will be entered into with respect to any matter covered by letters of intent or we will consummate any transaction contemplated by any definitive contract. Furthermore, due diligence periods for real property are frequently extended as needed. An acquisition or sale of real property becomes probable at the time the due diligence period expires and the definitive contract has not been terminated. We are then at risk under a real property acquisition contract, but generally only to the extent of any earnest money deposits associated with the contract, and are obligated to sell under a real property sales contract. At December 31, 2015 , we had earnest money deposits of approximately $1.5 million for potential acquisitions of land which are included in other assets, net in our consolidated balance sheets. Approximately $0.8 million of these deposits was non-refundable at December 31, 2015 . Lease Commitments. At December 31, 2015 , we had long-term leases covering certain land, office facilities and equipment. Rental expense totaled approximately $3.4 million , $3.0 million , and $2.8 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. Minimum annual rental commitments for the years ending December 31, 2016 through 2020 are approximately $2.8 million , $2.9 million , $2.7 million , $2.5 million , and $2.5 million , respectively, and approximately $11.1 million in the aggregate thereafter. Investments in Joint Ventures. We have entered into, and may continue in the future to enter into, joint ventures or partnerships (including limited liability companies) through which we own an indirect economic interest in less than 100% of the community or land owned directly by the joint venture or partnership. Our decision whether to hold the entire interest in an apartment community or land ourselves, or to have an indirect interest in the community or land through a joint venture or partnership, is based on a variety of factors and considerations, including: (i) our projection, in some circumstances, that we will achieve higher returns on our invested capital or reduce our risk if a joint venture or partnership vehicle is used; (ii) our desire to diversify our portfolio of investments by market; (iii) our desire at times to preserve our capital resources to maintain liquidity or balance sheet strength; and (iv) the economic and tax terms required by a seller of land or of a community, who may prefer or who may require less payment if the land or community is contributed to a joint venture or partnership. Investments in joint ventures or partnerships are not limited to a specified percentage of our assets. Each joint venture or partnership agreement is individually negotiated, and our ability to operate or dispose of land or of a community in our sole discretion may be limited to varying degrees in our existing joint venture agreements and may be limited to varying degrees depending on the terms of future joint venture agreements. Employment Agreements. At December 31, 2015 , we had employment agreements with 13 of our senior officers, the terms of which expire at various times through August 20, 2016. Such agreements provide for minimum salary levels, as well as various incentive compensation arrangements, which are payable based on the attainment of specific goals. The agreements also provide for severance payments plus a gross-up payment if certain situations occur, such as termination without cause or a change of control. In the case of 10 of the agreements, the severance payment equals one times the respective current annual base salary in the case of termination without cause and 2.99 times the respective average annual base salary over the previous three fiscal years in the case of a change of control and a termination of employment or a material adverse change in the scope of their duties. In the case of one agreement, the severance payment equals one times the respective current annual base salary for termination without cause and 2.99 times the greater of current gross income or average gross income over the previous three fiscal years in the case of a change of control. In the case of the other two agreements, the severance payment generally equals 2.99 times the respective average annual compensation over the previous three fiscal years in connection with, among other things, a termination without cause or a change of control, and the officer would be entitled to receive continuation and vesting of certain benefits in the case of such termination. |
Non-controlling Interests
Non-controlling Interests | 12 Months Ended |
Dec. 31, 2015 | |
Non-controlling Interest [Line Items] | |
Non-controlling Interests [Text Block] | 14. Non-controlling Interests The following table summarizes the effect of changes in our ownership interest in subsidiaries on the equity attributable to common shareholders for each of the years ended December 31: 2015 2014 2013 Net income attributable to common shareholders $ 249,315 $ 292,089 $ 336,364 Transfers from non-controlling interests: Increase in equity for conversion of operating partnership units 86 52 52 Decrease in additional paid-in-capital for purchase of remaining non-controlling ownership interests in two consolidated joint ventures (1) (9,480 ) — — Change in common equity and net transfers from non-controlling interests $ 239,921 $ 292,141 $ 336,416 (1) Refer to Note 7, "Acquisitions, Dispositions, Impairment, and Discontinued Operations," for further discussion of acquisitions. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Data [Abstract] | |
Quarterly Financial Data [Text Block] | 15. Quarterly Financial Data (unaudited) Summarized quarterly financial data, for the years ended December 31, 2015 and 2014 , is as follows: (in thousands, except per share amounts) First Second Third Fourth Total (a) 2015: Revenues $ 215,434 $ 220,651 $ 227,185 $ 229,658 $ 892,928 Net income attributable to common shareholders 115,599 36,079 37,044 60,593 249,315 Net income attributable to common shareholders per share – basic 1.29 (b) 0.40 0.41 0.67 (c) 2.77 Net income attributable to common shareholders per share – diluted 1.27 (b) 0.40 0.41 0.67 (c) 2.76 2014: Revenues $ 205,929 $ 208,492 $ 213,098 $ 216,459 $ 843,978 Net income attributable to common shareholders 40,036 35,272 38,283 178,498 292,089 Net income attributable to common shareholders per share – basic 0.45 (d) 0.40 (e) 0.43 (f) 1.99 (g) 3.29 Net income attributable to common shareholders per share – diluted 0.45 (d) 0.40 (e) 0.43 (f) 1.98 (g) 3.27 (a) Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. (b) Includes a $85,192 , or $0.96 basic and $0.94 diluted per share, impact related to a gain on sale of two operating properties and land. (c) Includes a $18,870 , or $0.21 basic and diluted per share, impact related to a gain on sale of one operating property. (d) Includes a $3,566 , or $0.04 basic and diluted per share, impact related to our proportionate gain on sale of two operating properties by our funds, which is included in equity in income of joint ventures. (e) Includes a $1,447 , or $0.02 basic and diluted per share, impact related to a gain on sale of land, and a $1,152 , or $0.01 basic and diluted per share, impact related to an impairment charge associated with land holdings. (f) Includes a $1,808 , or $0.02 basic and diluted per share, impact related to a gain on sale of land. (g) Includes a $155,680 , or $1.76 basic and $1.73 diluted per share, impact related to the gain on sale of operating properties, and a $10,000 , or $0.11 basic and diluted per share, impact related to incentive compensation expense as a result of joint venture restructuring. |
Schedule III - Real Estate and
Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2015 | |
Schedule III - Real Estate and Accumulated Depreciation [Abstract] | |
Schedule III - Real Estate and Accumulated Depreciation [Text Block] | Camden Property Trust Schedule III Initial Cost Total Cost Land Building/ Construction in Progress & Improvements Cost Subsequent to Acquisition/ Construction Land Building/ Construction in Progress & Improvements Total Accumulated Depreciation Total Cost, Net of Accumulated Depreciation Encumbrances Year of Completion/ Acquisition Current communities: ARIZONA Phoenix/Scottsdale Camden Copper Square $ 4,825 $ 23,672 $ 6,793 $ 4,825 $ 30,465 $ 35,290 $ 15,162 $ 20,128 2000 Camden Foothills 11,006 33,343 318 11,006 33,661 44,667 2,023 42,644 2014 Camden Hayden 9,248 35,108 — 9,248 35,108 44,356 1,518 42,838 2015 Camden Legacy 4,068 26,612 11,546 4,068 38,158 42,226 21,388 20,838 1998 Camden Montierra 13,687 31,727 4,941 13,687 36,668 50,355 4,442 45,913 2012 Camden Pecos Ranch 3,362 24,492 4,649 3,362 29,141 32,503 5,083 27,420 2012 Camden San Marcos 11,520 35,166 5,271 11,520 40,437 51,957 5,047 46,910 2012 Camden San Paloma 6,480 23,045 8,233 6,480 31,278 37,758 13,643 24,115 2002 Camden Sotelo 3,376 30,576 595 3,376 31,171 34,547 2,748 31,799 2013 CALIFORNIA Los Angeles/Orange County Camden Crown Valley 9,381 54,210 9,124 9,381 63,334 72,715 27,224 45,491 2001 Camden Glendale 21,492 91,709 — 21,492 91,709 113,201 2,538 110,663 2015 Camden Harbor View 16,079 127,459 9,796 16,079 137,255 153,334 50,254 103,080 $ 92,716 2003 Camden Main and Jamboree 17,363 75,387 1,091 17,363 76,478 93,841 13,886 79,955 48,902 2008 Camden Martinique 28,401 51,861 17,589 28,401 69,450 97,851 36,987 60,864 32,969 1998 Camden Parkside 29,730 34,368 3,529 29,730 37,897 67,627 5,461 62,166 2012 Camden Sea Palms 4,336 9,930 3,474 4,336 13,404 17,740 7,559 10,181 1998 San Diego/Inland Empire Camden Landmark 17,339 71,315 1,505 17,339 72,820 90,159 8,847 81,312 2012 Camden Old Creek 20,360 71,777 1,271 20,360 73,048 93,408 21,058 72,350 2007 Camden Sierra at Otay Ranch 10,585 49,781 4,752 10,585 54,533 65,118 21,353 43,765 2003 Camden Tuscany 3,330 36,466 4,294 3,330 40,760 44,090 15,318 28,772 2003 Camden Vineyards 4,367 28,494 2,745 4,367 31,239 35,606 13,057 22,549 2002 COLORADO Denver Camden Belleview Station 8,091 44,003 1,129 8,091 45,132 53,223 5,077 48,146 2012 Camden Caley 2,047 17,445 5,339 2,047 22,784 24,831 10,600 14,231 15,351 2000 Camden Denver West 6,396 51,552 5,124 6,396 56,676 63,072 5,512 57,560 2012 Camden Flatirons 6,849 72,395 — 6,849 72,395 79,244 3,893 75,351 2015 Camden Highlands Ridge $ 2,612 $ 34,726 $ 10,712 $ 2,612 $ 45,438 $ 48,050 $ 21,547 $ 26,503 1996 Camden Interlocken 5,293 31,612 8,900 5,293 40,512 45,805 20,069 25,736 $ 27,431 1999 Camden Lakeway 3,915 34,129 12,513 3,915 46,642 50,557 23,650 26,907 29,267 1997 WASHINGTON DC METRO Camden Ashburn Farm 4,835 22,604 1,748 4,835 24,352 29,187 8,175 21,012 2005 Camden Clearbrook 2,384 44,017 1,201 2,384 45,218 47,602 13,207 34,395 2007 Camden College Park 16,409 91,503 3,689 16,409 95,192 111,601 15,780 95,821 2008 Camden Dulles Station 10,807 61,548 2,623 10,807 64,171 74,978 16,228 58,750 2008 Camden Fair Lakes 15,515 104,223 8,286 15,515 112,509 128,024 36,522 91,502 2005 Camden Fairfax Corner 8,484 72,953 5,630 8,484 78,583 87,067 23,919 63,148 2006 Camden Fallsgrove 9,408 43,647 4,524 9,408 48,171 57,579 16,031 41,548 2005 Camden Grand Parc 7,688 35,900 2,200 7,688 38,100 45,788 12,152 33,636 2005 Camden Lansdowne 15,502 102,267 6,738 15,502 109,005 124,507 36,113 88,394 2005 Camden Largo Town Center 8,411 44,163 3,064 8,411 47,227 55,638 15,279 40,359 2005 Camden Monument Place 9,030 54,089 1,080 9,030 55,169 64,199 15,600 48,599 2007 Camden NoMa 19,442 82,126 211 19,442 82,337 101,779 6,972 94,807 2014 Camden Potomac Yard 16,498 88,317 881 16,498 89,198 105,696 23,649 82,047 2008 Camden Roosevelt 11,470 45,785 1,077 11,470 46,862 58,332 15,548 42,784 2005 Camden Russett 13,460 61,837 4,469 13,460 66,306 79,766 22,097 57,669 45,063 2005 Camden Silo Creek 9,707 45,301 1,919 9,707 47,220 56,927 15,517 41,410 2005 Camden Summerfield 14,659 48,404 1,310 14,659 49,714 64,373 13,619 50,754 2008 Camden Summerfield II 4,459 20,566 5 4,459 20,571 25,030 3,545 21,485 2012 FLORIDA Southeast Florida Camden Aventura 12,185 47,616 10,795 12,185 58,411 70,596 20,219 50,377 2005 Camden Boca Raton 2,201 49,499 419 2,201 49,918 52,119 2,738 49,381 2014 Camden Brickell 14,621 57,031 10,979 14,621 68,010 82,631 23,189 59,442 2005 Camden Doral 10,260 40,416 6,052 10,260 46,468 56,728 14,833 41,895 2005 Camden Doral Villas 6,476 25,543 6,115 6,476 31,658 38,134 10,573 27,561 2005 Camden Las Olas 12,395 79,518 8,417 12,395 87,935 100,330 29,251 71,079 2005 Camden Plantation 6,299 77,964 7,211 6,299 85,175 91,474 28,721 62,753 2005 Camden Portofino 9,867 38,702 4,509 9,867 43,211 53,078 14,712 38,366 2005 Orlando Camden Hunter's Creek 4,156 20,925 4,863 4,156 25,788 29,944 8,566 21,378 2005 Camden Lago Vista $ 3,497 $ 29,623 $ 2,161 $ 3,497 $ 31,784 $ 35,281 $ 11,388 $ 23,893 2005 Camden LaVina 12,907 42,569 143 12,907 42,712 55,619 7,971 47,648 2012 Camden Lee Vista 4,350 34,643 5,423 4,350 40,066 44,416 19,608 24,808 2000 Camden Orange Court 5,319 40,733 1,696 5,319 42,429 47,748 11,184 36,564 2008 Camden Renaissance 4,144 39,987 6,521 4,144 46,508 50,652 24,525 26,127 1997 Camden Town Square 13,127 45,997 93 13,127 46,090 59,217 6,858 52,359 2012 Camden World Gateway 5,785 51,821 7,065 5,785 58,886 64,671 18,493 46,178 2005 Tampa/St. Petersburg Camden Bay 7,450 63,283 10,863 7,450 74,146 81,596 34,129 47,467 1998/2002 Camden Lakes 3,106 22,746 14,866 3,106 37,612 40,718 30,424 10,294 1997 Camden Montague 3,576 16,534 159 3,576 16,693 20,269 3,035 17,234 2012 Camden Preserve 1,206 17,982 7,003 1,206 24,985 26,191 13,197 12,994 1997 Camden Royal Palms 2,147 38,339 2,389 2,147 40,728 42,875 11,358 31,517 2007 Camden Westchase Park 11,955 36,254 120 11,955 36,374 48,329 5,751 42,578 2012 Camden Westshore 1,734 10,819 7,550 1,734 18,369 20,103 13,877 6,226 1997 Camden Woods 2,693 19,930 11,439 2,693 31,369 34,062 22,450 11,612 1999 GEORGIA Atlanta Camden Brookwood 7,174 31,984 7,091 7,174 39,075 46,249 13,622 32,627 $ 22,624 2005 Camden Creekstone 5,017 19,912 1,009 5,017 20,921 25,938 2,662 23,276 2012 Camden Deerfield 4,895 21,922 6,807 4,895 28,729 33,624 9,698 23,926 19,220 2005 Camden Dunwoody 5,290 23,642 7,817 5,290 31,459 36,749 10,836 25,913 21,168 2005 Camden Fourth Ward 10,477 51,258 308 10,477 51,566 62,043 2,576 59,467 2014 Camden Midtown Atlanta 6,196 33,828 7,227 6,196 41,055 47,251 13,754 33,497 20,565 2005 Camden Paces 15,262 102,270 — 15,262 102,270 117,532 4,191 113,341 2015 Camden Peachtree City 6,536 29,063 5,488 6,536 34,551 41,087 11,670 29,417 2005 Camden Shiloh 4,181 18,798 4,995 4,181 23,793 27,974 8,231 19,743 10,576 2005 Camden St. Clair 7,526 27,486 7,013 7,526 34,499 42,025 12,290 29,735 21,646 2005 Camden Stockbridge 5,071 22,693 3,334 5,071 26,027 31,098 9,260 21,838 14,332 2005 Camden Vantage 11,787 68,822 1,451 11,787 70,273 82,060 6,358 75,702 2013 NEVADA Las Vegas Camden Bel Air $ 3,594 $ 31,221 $ 7,995 $ 3,594 $ 39,216 $ 42,810 $ 24,208 $ 18,602 1998 Camden Breeze 2,894 15,828 5,834 2,894 21,662 24,556 13,160 11,396 1998 Camden Canyon 1,802 11,666 5,573 1,802 17,239 19,041 10,819 8,222 1998 Camden Centre 172 1,166 412 172 1,578 1,750 1,028 722 1998 Camden Commons 2,476 20,073 7,426 2,476 27,499 29,975 19,319 10,656 1998 Camden Cove 1,382 6,266 2,118 1,382 8,384 9,766 5,564 4,202 1998 Camden Del Mar 4,404 35,264 15,359 4,404 50,623 55,027 31,879 23,148 1998 Camden Fairways 3,969 15,543 10,440 3,969 25,983 29,952 18,223 11,729 1998 Camden Hills 853 7,834 1,908 853 9,742 10,595 6,388 4,207 1998 Camden Legends 1,370 6,382 1,525 1,370 7,907 9,277 4,653 4,624 1998 Camden Palisades 8,406 31,497 9,803 8,406 41,300 49,706 24,581 25,125 1998 Camden Pines 3,496 21,852 3,037 3,496 24,889 28,385 3,681 24,704 2012 Camden Pointe 2,058 14,879 3,643 2,058 18,522 20,580 10,493 10,087 1998 Camden Summit 11,212 18,399 2,745 11,212 21,144 32,356 3,107 29,249 2012 Camden Tiara 7,709 28,644 3,685 7,709 32,329 40,038 4,697 35,341 2012 Camden Vintage 3,641 19,255 6,147 3,641 25,402 29,043 16,196 12,847 1998 NORTH CAROLINA Charlotte Camden Ballantyne 4,503 30,250 7,542 4,503 37,792 42,295 13,620 28,675 $ 26,025 2005 Camden Cotton Mills 4,246 19,147 5,744 4,246 24,891 29,137 9,134 20,003 2005 Camden Dilworth 516 16,633 2,066 516 18,699 19,215 5,883 13,332 13,073 2006 Camden Fairview 1,283 7,223 3,728 1,283 10,951 12,234 4,477 7,757 2005 Camden Foxcroft 1,408 7,919 3,839 1,408 11,758 13,166 4,904 8,262 2005 Camden Grandview 7,570 33,859 7,168 7,570 41,027 48,597 14,599 33,998 2005 Camden Sedgebrook 5,266 29,211 6,632 5,266 35,843 41,109 12,879 28,230 21,306 2005 Camden Simsbury 1,152 6,499 2,295 1,152 8,794 9,946 3,272 6,674 2005 Camden South End Square 6,625 29,175 7,202 6,625 36,377 43,002 12,345 30,657 2005 Camden Stonecrest 3,941 22,021 5,613 3,941 27,634 31,575 10,188 21,387 2005 Camden Touchstone 1,203 6,772 2,800 1,203 9,572 10,775 4,114 6,661 2005 Raleigh Camden Crest $ 4,412 $ 31,108 $ 5,088 $ 4,412 $ 36,196 $ 40,608 $ 11,999 $ 28,609 2005 Camden Governor's Village 3,669 20,508 3,020 3,669 23,528 27,197 8,483 18,714 $ 13,004 2005 Camden Lake Pine 5,746 31,714 6,809 5,746 38,523 44,269 14,159 30,110 26,212 2005 Camden Manor Park 2,535 47,159 1,993 2,535 49,152 51,687 16,035 35,652 29,675 2006 Camden Overlook 4,591 25,563 8,080 4,591 33,643 38,234 12,040 26,194 2005 Camden Reunion Park 3,302 18,457 4,976 3,302 23,433 26,735 8,627 18,108 19,961 2005 Camden Westwood 4,567 25,519 4,371 4,567 29,890 34,457 10,615 23,842 19,907 2005 TEXAS Austin Camden Cedar Hills 2,684 20,931 517 2,684 21,448 24,132 6,251 17,881 2008 Camden Gaines Ranch 5,094 37,100 9,337 5,094 46,437 51,531 15,616 35,915 2005 Camden Huntingdon 2,289 17,393 9,542 2,289 26,935 29,224 14,947 14,277 1995 Camden La Frontera 3,250 32,379 — 3,250 32,379 35,629 1,989 33,640 2015 Camden Lamar Heights 3,988 42,775 — 3,988 42,775 46,763 2,523 44,240 2015 Camden Stoneleigh 3,498 31,285 7,244 3,498 38,529 42,027 12,373 29,654 2006 Corpus Christi Camden Breakers 1,055 13,024 8,818 1,055 21,842 22,897 12,162 10,735 1996 Camden Copper Ridge 1,204 9,180 8,004 1,204 17,184 18,388 12,765 5,623 1993 Camden Miramar — 38,784 20,139 — 58,923 58,923 22,527 36,396 1994-2014 Dallas/Fort Worth Camden Addison 11,516 29,332 6,953 11,516 36,285 47,801 6,210 41,591 2012 Camden Belmont 12,521 61,522 1,302 12,521 62,824 75,345 8,053 67,292 2012 Camden Buckingham 2,704 21,251 8,882 2,704 30,133 32,837 15,700 17,137 1997 Camden Centreport 1,613 12,644 6,046 1,613 18,690 20,303 9,505 10,798 1997 Camden Cimarron 2,231 14,092 6,903 2,231 20,995 23,226 12,544 10,682 1997 Camden Farmers Market 17,341 74,193 15,916 17,341 90,109 107,450 37,714 69,736 50,711 2001/2005 Camden Henderson 3,842 15,256 205 3,842 15,461 19,303 2,253 17,050 2012 Camden Legacy Creek 2,052 12,896 5,955 2,052 18,851 20,903 10,469 10,434 1997 Camden Legacy Park 2,560 15,449 6,888 2,560 22,337 24,897 12,251 12,646 13,866 1997 Camden Valley Park 3,096 14,667 13,652 3,096 28,319 31,415 25,562 5,853 1994 Houston Camden City Centre 4,976 44,735 1,212 4,976 45,947 50,923 13,320 37,603 33,795 2007 Camden City Centre II $ 5,101 $ 28,131 $ 46 $ 5,101 $ 28,177 $ 33,278 $ 3,956 $ 29,322 2013 Camden Greenway 16,916 43,933 16,829 16,916 60,762 77,678 30,368 47,310 $ 52,359 1999 Camden Holly Springs 11,108 42,852 9,996 11,108 52,848 63,956 8,223 55,733 2012 Camden Midtown 4,583 18,026 8,711 4,583 26,737 31,320 14,008 17,312 28,058 1999 Camden Oak Crest 2,078 20,941 4,193 2,078 25,134 27,212 10,457 16,755 17,309 2003 Camden Park 4,922 16,453 3,705 4,922 20,158 25,080 3,133 21,947 2012 Camden Plaza 7,204 31,044 1,314 7,204 32,358 39,562 5,836 33,726 20,714 2007 Camden Post Oak 14,056 92,515 9,098 14,056 101,613 115,669 9,146 106,523 2013 Camden Royal Oaks 1,055 20,046 1,055 1,055 21,101 22,156 7,109 15,047 2006 Camden Royal Oaks II 587 12,743 15 587 12,758 13,345 2,201 11,144 2012 Camden Stonebridge 1,016 7,137 4,133 1,016 11,270 12,286 7,338 4,948 1993 Camden Sugar Grove 7,614 27,594 2,155 7,614 29,749 37,363 4,392 32,971 2012 Camden Travis Street 1,780 29,104 485 1,780 29,589 31,369 7,457 23,912 21,614 2010 Camden Vanderbilt 16,076 44,918 19,590 16,076 64,508 80,584 38,370 42,214 73,165 1994/1997 Camden Whispering Oaks 1,188 26,242 870 1,188 27,112 28,300 7,766 20,534 2008 Total current communities: $ 1,043,345 $ 5,436,835 $ 781,605 $ 1,043,345 $ 6,218,440 $ 7,261,785 $ 1,976,958 $ 5,284,827 $ 902,584 Communities under construction: Name / location Camden Chandler (1) Chandler, AZ $ — $ 66,391 $ — $ — $ 66,391 $ 66,391 $ 1,634 $ 64,757 N/A Camden Gallery Charlotte, NC — 50,392 — — 50,392 50,392 55 50,337 N/A Camden Lincoln Station Denver, CO — 18,226 — — 18,226 18,226 — 18,226 N/A Camden McGowen Station Houston, TX — 14,064 — — 14,064 14,064 — 14,064 N/A Camden NoMa II Washington, DC — 45,524 — — 45,524 45,524 — 45,524 N/A Camden Shady Grove Rockville, MD — 51,376 — — 51,376 51,376 — 51,376 N/A Camden Victory Park Dallas, TX — 67,201 — — 67,201 67,201 42 67,159 N/A The Camden Los Angeles, CA — 111,703 — — 111,703 111,703 1 111,702 N/A Total communities under construction: $ — $ 424,877 $ — $ — $ 424,877 $ 424,877 $ 1,732 $ 423,145 $ — Development pipeline communities: Name/location Camden Arts District Los Angeles, CA $ — $ 13,002 $ — $ — $ 13,002 $ 13,002 $ — $ 13,002 N/A Camden Atlantic Plantation, FL — 13,428 — — 13,428 13,428 — 13,428 N/A Camden Buckhead Atlanta, GA — 22,341 — — 22,341 22,341 — 22,341 N/A Camden Conte Houston, TX — 21,039 — — 21,039 21,039 — 21,039 N/A Camden North End Phoenix, AZ — 38,319 — — 38,319 38,319 — 38,319 N/A Camden Washingtonian — 18,369 — — 18,369 18,369 — 18,369 N/A Total development pipeline communities: $ — $ 126,498 $ — $ — $ 126,498 $ 126,498 $ — $ 126,498 $ — Land Holdings $ — $ 6,212 $ — $ — $ 6,212 $ 6,212 $ — $ 6,212 N/A Corporate — 5,284 — — 5,284 5,284 — 5,284 N/A $ — $ 11,496 $ — $ — $ 11,496 $ 11,496 $ — $ 11,496 $ — TOTAL $ 1,043,345 $ 5,999,706 $ 781,605 $ 1,043,345 $ 6,781,311 $ 7,824,656 $ 1,978,690 $ 5,845,966 $ 902,584 (1) Property is in lease-up at December 31, 2015 . Balances presented here includes costs which are included in buildings and improvements and land on the consolidated balance sheet at December 31, 2015 . These costs related to completed unit turns for these properties. Camden Property Trust Real Estate and Accumulated Depreciation As of December 31, 2015 (in thousands) Schedule III The changes in total real estate assets for the years ended December 31: 2015 2014 2013 Balance, beginning of period $ 7,421,516 $ 7,072,181 $ 6,673,914 Additions during period: Acquisition of operating properties and unconsolidated joint ventures — 61,736 221,421 Development and repositions 351,998 469,048 306,950 Improvements 75,847 58,233 67,049 Deductions during period: Cost of real estate sold – other (24,705 ) (172,475 ) (197,153 ) Classification to held for sale — (67,207 ) — Balance, end of period $ 7,824,656 $ 7,421,516 $ 7,072,181 The changes in accumulated depreciation for the years ended December 31: 2015 2014 2013 Balance, beginning of period $ 1,738,862 $ 1,643,713 $ 1,518,896 Depreciation of real estate assets 250,093 229,256 203,897 Dispositions (10,265 ) (94,043 ) (79,080 ) Transfers to held for sale — (40,064 ) — Balance, end of period $ 1,978,690 $ 1,738,862 $ 1,643,713 The aggregate cost for federal income tax purposes at December 31, 2015 was $6.8 billion . |
Schedule IV - Mortgage Loans on
Schedule IV - Mortgage Loans on Real Estate | 12 Months Ended |
Dec. 31, 2015 | |
Mortgage Loans on Real Estate [Abstract] | |
Schedule IV - Mortgage Loans on Real Estate [Text Block] | Camden Property Trust As of December 31, 2015 Schedule IV ($ in thousands) Description Interest Rate Final Maturity Date Periodic payment terms Face amount of mortgages Carry amount of mortgages (a) Undeveloped Land First lien note Houston, TX Prime + 1.00% July 2019 (b) $ 3,395 $ 3,395 Parking Garage Developer advances Houston, TX (c) (d) (e) 18,000 9,766 Total $ 21,395 $ 13,161 (a) The aggregate cost at December 31, 2015 for federal income tax purposes was approximately $13,161 . (b) Periodic payments are interest only until January 1, 2017, at which date interest and equal payments of principal are due each July 1 and January 1 until the final maturity date. (c) This loan currently bears interest at 4% and will increase to 7% on any unpaid principal balance on the later of January 1, 2018 or January 1 of the year following completion of our planned apartment project at an adjacent location. (d) This loan matures on October 1 in the 13th year following the year of completion of the parking garage. (e) Periodic payments are currently interest only, and will consist of interest and principal payments following the year of completion of the parking garage through maturity. Changes in mortgage loans for the years ended December 31 are summarized below: 2015 2014 2013 Balance, beginning of period $ 3,395 $ 3,395 $ 3,395 Additions: Advances under real estate loans 9,766 — — Deductions: — — — Balance, end of period $ 13,161 $ 3,395 $ 3,395 |
Summary of Significant Accoun25
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Principles Of Consolidation | Principles of Consolidation . Our consolidated financial statements include our accounts and the accounts of other subsidiaries and joint ventures (including partnerships and limited liability companies) over which we have control. All intercompany transactions, balances, and profits have been eliminated in consolidation. Investments acquired or created are evaluated based on the accounting guidance relating to variable interest entities (“VIEs”), which requires the consolidation of VIEs in which we are considered to be the primary beneficiary. If the investment is determined not to be a VIE, then the investment is evaluated for consolidation (primarily using a voting interest model) under the remaining consolidation guidance relating to real estate entities. If we are the general partner of a limited partnership, or manager of a limited liability company, we also consider the consolidation guidance relating to the rights of limited partners, or non-managing members, as the case may be, to assess whether any rights held by the limited partners, or non-managing members, as the case may be, overcome the presumption of control by us. |
Allocations of Purchase Price | Acquisitions of Real Estate . Upon acquisition of real estate, we determine the fair value of tangible and intangible assets, which includes land, buildings (as-if-vacant), furniture and fixtures, the value of in-place leases, including above and below market leases, and acquired liabilities. In estimating these values, we apply methods similar to those used by independent appraisers of income-producing property. Upon the acquisition of a controlling interest of an investment in an unconsolidated joint venture, such joint venture is consolidated and our initial equity investment is remeasured to fair value at the date the controlling interest is acquired; any difference between the carrying value of the previously held equity investment and the fair value is recognized in earnings at the time of obtaining control. Transaction costs associated with the acquisition of operating real estate assets are expensed. Estimates of fair value of acquired debt are based upon interest rates available for the issuance of debt with similar terms and remaining maturities. Depreciation is computed on a straight-line basis over the remaining useful lives of the related tangible assets. The value of in-place leases and above or below market leases is amortized over the estimated average remaining life of leases in place at the time of acquisition. The net carrying value of below market leases is included in other liabilities in our consolidated balance sheets and the net carrying value of in-place leases is included in other assets, net in our consolidated balance sheets. The carrying values of below market leases and in-place leases at December 31, 2015 and 2014 are as follows: December 31, (in millions) 2015 2014 Below market leases (Gross carrying value) $ 0.5 $ 0.5 Accumulated amortization (0.5 ) (0.4 ) Value of below market leases, net $ — $ 0.1 In-place leases (Gross carrying value) $ 3.0 $ 3.0 Accumulated amortization (3.0 ) (2.5 ) Value of in-place leases, net $ — $ 0.5 Revenues recognized related to below market leases and amortization expense related to in-place leases for the years ended December 31, 2015 , 2014 and 2013 are as follows: December 31, (in millions) 2015 2014 2013 Revenues related to below market leases $ 0.1 $ 0.2 $ 1.1 Amortization of in-place leases $ 0.5 $ 1.4 $ 5.6 The weighted average amortization period of below market leases and in-place leases was approximately eight months, seven months and six months for the years ended December 31, 2015 , 2014 and 2013 , respectively. |
Asset Impairment | Asset Impairment . Long-lived assets are reviewed for impairment annually or whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Impairment may exist if estimated future undiscounted cash flows associated with long-lived assets are not sufficient to recover the carrying value of such assets. We consider projected future discounted and undiscounted cash flows, trends, strategic decisions regarding future development plans, and other factors in our assessment of whether impairment conditions exist. While we believe our estimates of future cash flows are reasonable, different assumptions regarding a number of factors, including market rents, economic conditions, and occupancies, could significantly affect these estimates. In estimating fair value, management uses appraisals, management estimates, and discounted cash flow calculations which utilize inputs from a marketplace participant’s perspective. When impairment exists, the long-lived asset is adjusted to its fair value. In addition, we evaluate our equity investments in joint ventures and if we believe there is an other than temporary decline in market value of our investment below our carrying value, we will record an impairment charge. We did not record any impairment charges for the years ended December 31, 2015 or 2013 . See Note 7, "Acquisitions, Dispositions, Impairment, and Discontinued Operations," for discussion of impairment during the year ended December 31, 2014 . The value of our properties under development depends on market conditions, including estimates of the project start date as well as estimates of demand for multifamily communities. We have reviewed market trends and other marketplace information and have incorporated this information as well as our current outlook into the assumptions we use in our impairment analyses. Due to the judgment and assumptions applied in the impairment analyses, it is possible actual results could differ substantially from those estimated. We believe the carrying value of our operating real estate assets, properties under development, and land is currently recoverable. However, if market conditions deteriorate or if changes in our development strategy significantly affect any key assumptions used in our fair value estimates, we may need to take material charges in future periods for impairments related to existing assets. Any such material non-cash charges could have an adverse effect on our consolidated financial position and results of operations. |
Cash and Cash Equivalents | Cash and Cash Equivalents . All cash and investments in money market accounts and other highly liquid securities with a maturity of three months or less at the date of purchase are considered to be cash and cash equivalents. We maintain the majority of our cash and cash equivalents at major financial institutions in the United States and deposits with these financial institutions may exceed the amount of insurance provided on such deposits; however, we regularly monitor the financial stability of these financial institutions and believe we are not currently exposed to any significant default risk with respect to these deposits. |
Cost Capitalization | Cost Capitalization . Real estate assets are carried at cost plus capitalized carrying charges. Carrying charges are primarily interest and real estate taxes which are capitalized as part of properties under development. Capitalized interest is generally based on the weighted average interest rate of our unsecured debt. Expenditures directly related to the development and improvement of real estate assets are capitalized at cost as land and buildings and improvements. Indirect development costs, including salaries and benefits and other related costs directly attributable to the development of properties, are also capitalized. We begin capitalizing development, construction, and carrying costs when the development of the future real estate asset is probable and activities necessary to prepare the underlying real estate for its intended use have been initiated. All construction and carrying costs are capitalized and reported in the balance sheet as properties under development until the apartment homes are substantially completed. Upon substantial completion of the apartment homes, the total capitalized development cost for the apartment homes and the associated land is transferred to buildings and improvements and land, respectively. As discussed above, carrying charges are principally interest and real estate taxes capitalized as part of properties under development. Capitalized interest was approximately $19.3 million , $22.2 million , and $15.7 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. Capitalized real estate taxes were approximately $3.6 million , $4.4 million , and $3.0 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. Where possible, we stage our construction to allow leasing and occupancy during the construction period, which we believe minimizes the duration of the lease-up period following completion of construction. Our accounting policy related to properties in the development and leasing phase is to expense all operating expenses associated with completed apartment homes. We capitalize renovation and improvement costs we believe extend the economic lives of depreciable property. Capital expenditures subsequent to initial construction are capitalized and depreciated over their estimated useful lives. We also incur expenditures related to renovation and construction of office space we lease and we capitalize these leasehold improvements as furniture, fixtures, equipment and other. We depreciate these costs using the straight-line method over the shorter of the lease term or the useful life of the improvement. During the third quarter of 2013, we relocated our corporate headquarters. In conjunction with this relocation, we capitalized approximately $12.2 million related to leasehold improvements which is depreciated over the life of our new lease. Depreciation and amortization is computed over the expected useful lives of depreciable property on a straight-line basis with lives generally as follows: Estimated Useful Life Buildings and improvements 5-35 years Furniture, fixtures, equipment and other 3-20 years Intangible assets/liabilities (in-place leases and below market leases) underlying lease term |
Discontinued Operations | Discontinued Operations . We adopted ASU 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity," on January 1, 2014, which required only disposals representing a strategic shift, such as a major line of business, a major geographical area or a major equity investment, to be classified as a discontinued operation. We generally believe future sales of our individual operating properties will no longer qualify as discontinued operations effective with our adoption of this new standard. Prior to January 1, 2014 a property was classified as a discontinued operation when (i) the operations and cash flows of the property could be clearly distinguished and had been or would be eliminated from our ongoing operations; (ii) the property either had been disposed of or was classified as held for sale; and (iii) we would not have any significant continuing involvement in the operations of the property after the disposal transaction. The results of operations for properties sold during the period or classified as held for sale at the end of the period, and meeting the above criteria of discontinued operations, are classified as discontinued operations for all periods presented. The property-specific components of earnings classified as discontinued operations include separately identifiable property-specific revenues, expenses, depreciation, and interest expense, if any. The gain or loss resulting from the eventual disposal of the held for sale properties meeting the criteria of discontinued operations is also classified within discontinued operations. Real estate assets held for sale are measured at the lower of carrying amount or fair value less costs to sell and are presented separately in the accompanying consolidated balance sheets. Subsequent to classification of a property as held for sale, no further depreciation is recorded. Properties sold by our unconsolidated entities which do not meet the above criteria of discontinued operations are not included in discontinued operations and related gains or losses are reported as a component of equity in income of joint ventures. Gains on sale of real estate are recognized using the full accrual or partial sale methods, as applicable, in accordance with accounting principles generally accepted in the United States of America ("GAAP"), provided various criteria relating to the terms of sale and any subsequent involvement with the real estate sold are satisfied. There were no disposals reported as discontinued operations for the years ended December 31, 2015 or 2014. See Note 7, "Acquisitions, Dispositions, Impairment, and Discontinued Operations," for discussion of discontinued operations for the year ended December 31, 2013. |
Fair Value | Fair Value . For financial assets and liabilities recorded at fair value on a recurring or non-recurring basis, fair value is the price we would receive to sell an asset, or pay to transfer a liability, in an orderly transaction with a market participant at the measurement date. In the absence of such data, fair value is estimated using internal information consistent with what market participants would use in a hypothetical transaction. In determining fair value, observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions; preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: • Level 1: Quoted prices for identical instruments in active markets. • Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3: Significant inputs to the valuation model are unobservable. Recurring Fair Value Measurements. The valuation methodology we use to measure our deferred compensation plan investments is based on quoted market prices utilizing public information for the same transactions. Our deferred compensation plan investments are recorded at fair value on a recurring basis and included in other assets in our consolidated balance sheets. Non-recurring Fair Value Measurements. Certain assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments in certain circumstances. These assets primarily include long-lived assets which are recorded at fair value if they are impaired using the fair value methodologies used to measure long-lived assets described above at "Asset Impairment." Non-recurring fair value disclosures are not provided for impairments on assets disposed during the period because they are no longer owned by us. The inputs associated with the valuation of long-lived assets are generally included in Level 3 of the fair value hierarchy, unless a quoted price for a similar long-lived asset in an active market exists, at which time they are included in Level 2 of the fair value hierarchy. Financial Instrument Fair Value Disclosures. As of December 31, 2015 and 2014 , the carrying values of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and distributions payable represent fair value because of the short-term nature of these instruments. The carrying value of restricted cash approximates its fair value based on the nature of our assessment of the ability to recover these amounts. The carrying value of our notes receivable, which are included in other assets, net in our consolidated balance sheets, approximates their fair value. The estimated fair values are based on certain factors, such as market interest rates, terms of the note and credit worthiness of the borrower. These financial instruments utilize Level 3 inputs. In calculating the fair value of our notes payable, interest rate and spread assumptions reflect current credit worthiness and market conditions available for the issuance of notes payable with similar terms and remaining maturities. These financial instruments utilize Level 2 inputs. |
Income Recognition | Income Recognition . Our rental and other property revenue is recorded when due from residents and is recognized monthly as it is earned. Other property revenue consists primarily of utility rebillings and administrative, application, and other transactional fees charged to our residents. Our apartment homes are rented to residents on lease terms generally ranging from six to fifteen months, with monthly payments due in advance. All other sources of income, including interest and fee and asset management income, are recognized as earned. Operations of multifamily properties acquired are recorded from the date of acquisition in accordance with the acquisition method of accounting. In management’s opinion, due to the number of residents, the types and diversity of submarkets in which our properties operate, and the collection terms, there is no significant concentration of credit risk. |
Reclassifications | Reclassifications. Certain reclassifications have been made to amounts in prior period financial statements to conform to the current period presentation. We reclassified certain insignificant amounts in the consolidated statements of cash flows for the years ended December 31, 2014 and 2013. These reclassifications had no impact on our consolidated cash flows from operating, investing or financing activities. In addition, we also reclassified deferred financing charges relating to our unsecured credit facility and unsecured short-term borrowing facility to depreciation and amortization. All other deferred charges were reclassified to interest expense effective with our adoption of Accounting Standards Update 2015-03 ("ASU 2015-03"), "Simplifying the Presentation of Debt Issuance Costs," as discussed below in Recent Accounting Pronouncements. |
Insurance | Insurance . Our primary lines of insurance coverage are property, general liability, health, and workers’ compensation. We believe our insurance coverage adequately insures our properties against the risk of loss attributable to fire, earthquake, hurricane, tornado, flood, and other perils and adequately insures us against other risks. Losses are accrued based upon our estimates of the aggregate liability for claims incurred using certain actuarial assumptions followed in the insurance industry and based on our experience. |
Other Assets, Net | Other Assets, Net . Other assets in our consolidated financial statements include investments under deferred compensation plans, deferred financing costs, non-real estate leasehold improvements and equipment, notes receivable, prepaid expenses, the value of in-place leases net of related accumulated amortization, and other miscellaneous receivables. Investments under deferred compensation plans are classified as trading securities and are adjusted to fair market value at period end. For a further discussion of our investments under deferred compensation plans, see Note 10, “Share-based Compensation and Benefit Plans.” Deferred financing costs are related to our unsecured credit facility and unsecured short-term borrowing facility, and are amortized no longer than the terms of the related facilities on the straight-line method, which approximates the effective interest method. Corporate leasehold improvements and equipment are depreciated using the straight-line method over the shorter of the expected useful lives or the lease terms which generally range from three to ten years. Our notes receivable relate to real estate secured loans to unaffiliated third parties. At December 31, 2015 and 2014, we had outstanding notes receivable balances of approximately $13.2 million and $3.4 million , respectively, and the weighted average interest rate on such notes was approximately 4.1% and 4.3% for the years ended December 31, 2015 and 2014, respectively. At December 31, 2015, we were also committed to funding additional amounts under one of the loans in the amount of approximately $8.3 million . Interest is recognized over the lives of the notes and is included in interest and other income in our consolidated statements of income and comprehensive income. We consider a note receivable to be impaired if it is probable we will not collect all contractually due principal and interest. We do not accrue interest when a note is considered impaired and an allowance is recorded for any principal and previously accrued interest which is not believed to be collectible. All cash receipts on impaired notes are applied to reduce the principal amount of such notes until the principal has been recovered and, thereafter, are recognized as interest income. There were no impairments as of December 31, 2015 or 2014. |
Reportable Segments | Reportable Segments . We operate in a single reportable segment which includes the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Each of our operating properties is considered a separate operating segment as each property earns revenues and incurs expenses, individual operating results are reviewed and discrete financial information is available. We do not distinguish or group our consolidated operations based on geography, size or type. Our multifamily apartment communities have similar long-term economic characteristics and provide similar products and services to our residents. Further, all material operations are within the United States and no multifamily apartment community comprises more than 10% of consolidated revenues. As a result, our operating properties are aggregated into a single reportable segment. Our multifamily communities generate rental revenue and other income through the leasing of apartment homes, which comprised approximately 99% of our total property revenues and total non-property income, excluding income on deferred compensation plans, for each of the years ended December 31, 2015 and 2014, and 98% for the year ended December 31, 2013 . |
Restricted Cash | Restricted Cash . Restricted cash consists of escrow deposits held by lenders for property taxes, insurance and replacement reserves, cash required to be segregated for the repayment of residents’ security deposits, and escrowed amounts related to our development and acquisition activities. Substantially all restricted cash is invested in demand and short-term instruments. |
Share-based Compensation | Share-based Compensation . Compensation expense associated with share-based awards is recognized in our consolidated statements of income and comprehensive income using the grant-date fair values. Compensation cost for all share-based awards, including options, requires measurement at estimated fair value on the grant date and recognition of compensation expense over the requisite service period for awards expected to vest. The fair value of stock option grants is estimated using the Black-Scholes valuation model. Valuation models require the input of assumptions, including judgments to estimate the expected stock price volatility, expected life, and forfeiture rate. The compensation cost for share-based awards is based on the market value of the shares on the date of grant. |
Use of Estimates | Use of Estimates . In the application of GAAP, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities at the date of the financial statements, results of operations during the reporting periods, and related disclosures. Our more significant estimates include estimates supporting our impairment analysis related to the carrying values of our real estate assets. These estimates are based on historical experience and other assumptions believed to be reasonable under the circumstances. Future events rarely develop exactly as forecasted, and the best estimates routinely require adjustment. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements. In February 2015, the FASB issued Accounting Standards Update 2015-02 ("ASU 2015-02"), "Amendments to the Consolidation Analysis." ASU 2015-02 changes the analysis a reporting entity must perform to determine whether it should consolidate certain types of legal entities. ASU 2015-02 modifies whether limited partnerships and similar entities are VIEs or voting interest entities and eliminates the presumption a general partner should consolidate a limited partnership. Reporting entities which consolidate or hold a variable interest in a VIE as a result of this standard are subject to additional disclosure requirements. ASU 2015-02 is effective for us on January 1, 2016 and did not have a material impact on our consolidated financial statements. However, upon adoption, two of our consolidated operating partnerships, as discussed in Note 5, "Operating Partnerships," would now qualify as VIEs. As we would be considered the primary beneficiary, we would continue to consolidate these operating partnerships. In April 2015, the FASB issued ASU 2015-03, which requires all costs incurred to issue debt to be presented in the balance sheet as a direct deduction from the carrying value of the debt rather than being recorded as a deferred charge and presented as an asset. ASU 2015-03 also requires amortization of debt issuance costs to be reported as interest expense in the statement of income. In August 2015, the FASB issued Accounting Standards Update 2015-15 ("ASU 2015-15"), "Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements." ASU 2015-15 supplements the requirements of ASU 2015-03 by allowing an entity to defer and present debt issuance costs related to a line of credit arrangement as an asset and subsequently amortize the deferred costs ratably over the term of the line of credit arrangement. We adopted ASU 2015-03 effective December 31, 2015. Prior to adoption, we reported amortization expense of debt issuance costs as a separate line item in our consolidated statements of income. Upon our adoption of ASU 2015-03, debt issuance costs related to our unsecured credit facility and unsecured short-term borrowing facility continue to be presented within other assets, net on our consolidated balance sheets. However, the retrospective application required upon adoption of this ASU resulted in a reclassification of approximately $10.9 million and $12.9 million of debt issuance costs from other assets, net to a deduction from unsecured and secured notes payable in our consolidated balance sheets as of December 31, 2015 and 2014, respectively. The retrospective application upon adoption also resulted in a reclassification of approximately $1.7 million , $1.6 million and $1.7 million from amortization of deferred financing costs to a component of interest expense in our consolidated statements of income and comprehensive income for the years ended December 31, 2015, 2014, and 2013, respectively. In January 2016, the FASB issued Accounting Standards Update 2016-01 ("ASU 2016-01"), "Recognition and Measurement of Financial Assets and Financial Liabilities." ASU 2016-01 changes certain recognition, measurement, presentation, and disclosure requirements for financial instruments. This standard requires all equity investments, except those accounted for under the equity method of accounting or resulting in consolidation, to be measured at fair value with changes in fair value recognized in net income. This standard also simplifies the impairment assessment for equity investments without readily determinable fair values, amends the presentation requirements for changes in the fair value of financial liabilities, requires presentation of financial instruments by measurement category and form of financial asset, and eliminates the requirement to disclose the methods and significant assumptions used in estimating the fair value of financial instruments. ASU 2016-01 is effective for interim and annual periods beginning after December 15, 2017, and early adoption is not permitted except for the amended presentation requirements for changes in the fair value of financial liabilities. We expect to adopt ASU 2016-01 as of January 1, 2018, and do not expect it to have a material impact on our consolidated financial statements upon adoption. In May 2014, the FASB issued Accounting Standards Update 2014-09 ("ASU 2014-09"), "Revenue from Contracts with Customers." ASU 2014-09 provides a single comprehensive revenue recognition model for contracts with customers (excluding certain contracts, such as lease contracts) to improve comparability within industries. ASU 2014-09 requires an entity to recognize revenue to reflect the transfer of goods or services to customers at an amount the entity expects to be paid in exchange for those goods and services and provide enhanced disclosures, all to provide more comprehensive guidance for transactions such as service revenue and contract modifications. In August 2015, the FASB deferred the effective date of ASU 2014-09 by one year, and it is now effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted but not before the original effective date. ASU 2014-09 may be applied using either a full retrospective or a modified approach upon adoption. We expect to adopt this standard as of January 1, 2018 and we are currently evaluating the impact this standard may have on our consolidated financial statements. |
Summary of Significant Accoun26
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Schedule of unamortized below market leases and in-place leases [Table Text Block] | The carrying values of below market leases and in-place leases at December 31, 2015 and 2014 are as follows: December 31, (in millions) 2015 2014 Below market leases (Gross carrying value) $ 0.5 $ 0.5 Accumulated amortization (0.5 ) (0.4 ) Value of below market leases, net $ — $ 0.1 In-place leases (Gross carrying value) $ 3.0 $ 3.0 Accumulated amortization (3.0 ) (2.5 ) Value of in-place leases, net $ — $ 0.5 |
Revenues recognized related to below market leases and amortization expense related to in-place leases [Table Text Block] | Revenues recognized related to below market leases and amortization expense related to in-place leases for the years ended December 31, 2015 , 2014 and 2013 are as follows: December 31, (in millions) 2015 2014 2013 Revenues related to below market leases $ 0.1 $ 0.2 $ 1.1 Amortization of in-place leases $ 0.5 $ 1.4 $ 5.6 |
Expected Useful Lives Of Depreciable Property | Depreciation and amortization is computed over the expected useful lives of depreciable property on a straight-line basis with lives generally as follows: Estimated Useful Life Buildings and improvements 5-35 years Furniture, fixtures, equipment and other 3-20 years Intangible assets/liabilities (in-place leases and below market leases) underlying lease term |
Per Share Data (Tables)
Per Share Data (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Calculation Of Basic And Diluted Earnings Per Share | The following table presents information necessary to calculate basic and diluted earnings per share for the periods indicated: Year Ended December 31, (in thousands, except per share amounts) 2015 2014 2013 Earnings per common share calculation – basic Income from continuing operations attributable to common shareholders $ 249,315 $ 292,089 $ 151,594 Amount allocated to participating securities (2,052 ) (2,687 ) (3,177 ) Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities $ 247,263 $ 289,402 $ 148,417 Discontinued operations, including gain on sale, attributable to common shareholders — — 184,770 Net income attributable to common shareholders – basic $ 247,263 $ 289,402 $ 333,187 Earnings per common share from continuing operations $ 2.77 $ 3.29 $ 1.70 Earnings per common share from discontinued operations — — 2.12 Total earnings per common share – basic $ 2.77 $ 3.29 $ 3.82 Weighted average number of common shares outstanding – basic 89,120 88,084 87,204 Earnings per common share calculation – diluted Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities $ 247,263 $ 289,402 $ 148,417 Income allocated to common units from continuing operations — — 1,133 Income from continuing operations attributable to common shareholders, as adjusted $ 247,263 $ 289,402 $ 149,550 Discontinued operations, including gain on sale, attributable to common shareholders — — 184,770 Net income attributable to common shareholders – diluted $ 247,263 $ 289,402 $ 334,320 Earnings per common share from continuing operations $ 2.76 $ 3.27 $ 1.69 Earnings per common share from discontinued operations — — 2.09 Total earnings per common share – diluted $ 2.76 $ 3.27 $ 3.78 Weighted average number of common shares outstanding – basic 89,120 88,084 87,204 Incremental shares issuable from assumed conversion of: Common share options and share awards granted 370 384 476 Common units — — 814 Weighted average number of common shares outstanding – diluted 89,490 88,468 88,494 |
Common Shares (Tables)
Common Shares (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Two thousand fourteen ATM program [Domain] | |
Activity Under At-The-Market Share Offering Program | The following table presents activity under our 2014 ATM program for the year ended December 31, 2014: (in thousands, except per share amounts) Year Ended December 31, 2014 Total net consideration $ 15,690.2 Common shares sold 209.7 Average price per share $ 76.28 |
2012 ATM Program [Member] | |
Activity Under At-The-Market Share Offering Program | The following table presents activity under our 2012 ATM program for the periods presented: Year Ended December 31, (in thousands, except per share amounts) 2014 2013 Total net consideration $ 50,535.3 $ 40,044.1 Common shares sold 688.3 555.1 Average price per share $ 74.60 $ 73.73 |
Income Taxes Income Taxes (Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Summary Of Tax Components Of Common And Preferred Dividends Declared And Distributions [Table Text Block] | A summary of the income tax characterization of our distributions paid per common share for the years ended December 31, 2015, 2014 and 2013 is set forth in the following table: Year Ended December 31, 2015 2014 2013 Common Share Distributions Ordinary income $ 1.88 $ 1.23 $ 1.40 Long-term capital gain 0.70 1.02 0.76 Unrecaptured Sec. 1250 gain 0.22 0.39 0.36 Total $ 2.80 $ 2.64 $ 2.52 Percentage of distributions representing tax preference items 3.73 % 4.17 % 4.95 % |
Acquisitions, Dispositions, I30
Acquisitions, Dispositions, Impairment, and Discontinued operations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the fair values of the assets acquired and liabilities assumed for the acquisition of the operating property described above as of the acquisition date: (in millions) 2014 Assets acquired: Buildings and improvements $ 51.3 Land 10.5 Intangible and other assets 0.9 Total assets acquired $ 62.7 Liabilities assumed: Other liabilities $ 0.4 Total liabilities assumed $ 0.4 Net assets acquired $ 62.3 |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following is a summary of income from discontinued operations for the year ended December 31, 2013 : Year Ended December 31, (in thousands) 2013 Property revenues $ 24,322 Property expenses (10,552 ) $ 13,770 Depreciation and amortization (5,255 ) Income from discontinued operations $ 8,515 Gain on sale of discontinued operations, net of tax $ 182,160 Less income, including gain on sale, allocated to non-controlling interests from discontinued operations (5,905 ) Income from discontinued operations, including gain on sale, attributable to common shareholders $ 184,770 |
Investments In Joint Ventures (
Investments In Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Aggregate Balance Sheet And Statement Of Income Data For Unconsolidated Joint Ventures | The following table summarizes the combined balance sheet and statement of income data for the funds as of and for the periods presented: (in millions) 2015 2014 Total assets (1) $ 748.0 $ 756.9 Total third-party debt (1) 527.0 522.7 Total equity 195.3 203.3 2015 2014 2013 Total revenues (2) $ 114.5 $ 105.6 $ 93.9 Gain on sale of operating properties, net of tax — 18.5 112.4 Net income 12.0 26.9 120.7 Equity in income (3) 6.2 7.0 24.9 (1) All periods presented have been changed to reflect the funds' adoption of ASU 2015-03 (as supplemented by ASU 2015-15) at December 31, 2015, which required retrospective application. (2) Excludes approximately $1.1 million and $7.4 million of revenue for the years ended December 31, 2014 and 2013, respectively, related to the sale of two operating properties by the funds during the first quarter of 2014. These properties were held for sale within two of our unconsolidated joint ventures at December 31, 2013. Also excludes approximately $17.9 million related to discontinued operations from the sale of 16 operating properties within two of our unconsolidated joint ventures during 2013. (3) Equity in income excludes our ownership interest of fee income from various services provided by us to the funds. |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Notes Payable [Abstract] | |
Summary Of Indebtedness | The following is a summary of our indebtedness, which also reflects the retrospective application of our adoption of ASU 2015-03 (as supplemented by ASU 2015-15) as more fully described in Note 2, "Summary of Significant Accounting Policies and Recent Accounting Pronouncements": December 31, (in millions) 2015 2014 Commercial banks Unsecured credit facility $ 225.0 $ — Unsecured short-term borrowings 19.0 — $ 244.0 $ — Senior unsecured notes (1) 5.08% Notes, due 2015 $ — $ 249.8 5.83% Notes, due 2017 246.3 246.0 4.78% Notes, due 2021 248.0 247.7 3.15% Notes, due 2022 345.4 344.7 5.07% Notes, due 2023 246.8 246.5 4.36% Notes, due 2024 248.0 247.7 3.68% Notes, due 2024 246.4 246.1 $ 1,580.9 $ 1,828.5 Total unsecured notes payable 1,824.9 1,828.5 Secured notes (1) 1.12% – 5.77% Conventional Mortgage Notes, due 2018 – 2045 867.4 868.0 Tax-exempt Mortgage Note, due 2028 (1.43% floating rate) 32.4 34.1 899.8 902.1 Total notes payable $ 2,724.7 $ 2,730.6 Other floating rate debt included in secured notes (1.12%) $ 175.0 $ 175.0 Value of real estate assets, at cost, subject to secured notes $ 1,568.9 $ 1,541.3 (1) Unamortized debt discounts and debt issuance costs of $18.6 million and $21.8 million are included in senior unsecured and secured notes payable as of December 31, 2015 and 2014, respectively. |
Scheduled Repayments On Outstanding Debt | The table below is a summary of the maturity dates of our outstanding debt and principal amortizations, and the weighted average interest rates on such debt, at December 31, 2015 : (in millions) Amount Weighted Average Interest Rate 2016 (1) $ 19.0 1.5 % 2017 247.2 5.8 2018 175.8 1.1 2019 (2) 870.2 4.3 2020 1.1 — Thereafter 1,411.4 4.1 Total $ 2,724.7 4.1 % (1) Includes $19.0 million of unsecured short-term borrowings. (2) Includes $225.0 million balance outstanding under our unsecured credit facility. |
Share-Based Compensation and 33
Share-Based Compensation and Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Share-based Compensation [Abstract] | |
Schedule Of Share Based Compensation Shares Authorized Under Stock Option Plans By Exercise Price Range And Intrinsic Value | The following table summarizes outstanding share options, all of which were exercisable, at December 31, 2015 : Options Outstanding and Exercisable (1) Range of Exercise Prices Number Weighted Average Price $30.06 105,015 $ 30.06 $41.16 - $43.94 119,242 42.46 $48.02 - $75.17 70,948 60.92 Total options 295,205 $ 42.49 (1) The aggregate intrinsic value of options outstanding and exercisable at December 31, 2015 was approximately $ 10.1 million . The aggregate intrinsic value was calculated as the excess, if any, between our closing share price of $ 76.76 per share on December 31, 2015 and the strike price of the underlying award. |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The following assumptions were used for the reload options granted during the years ended December 31, 2015 and 2014 : Year Ended Year Ended December 31, 2014 Weighted average fair value of options granted $5.52 - $7.38 $3.55 - $8.17 Expected volatility 16.5% - 18.8% 22.6% - 23.2% Risk-free interest rate 1.0% - 1.3% 0.1% - 1.1% Expected dividend yield 3.5% - 3.7% 3.5% Expected life 3 years - 4 years 6 months - 4 years |
Summary Of Share Incentive Plans | The following table summarizes activity under our share incentive plans for the three years ended December 31: Options Outstanding Weighted Average Exercise / Grant Price Nonvested Share Awards Outstanding Weighted Average Exercise / Grant Price Options and nonvested share awards outstanding at December 31, 2012 838,754 $ 42.36 862,253 $ 52.64 Granted — — 350,615 69.56 Exercised/Vested (183,871 ) 41.56 (309,396 ) 51.41 Forfeited (20,522 ) 73.32 (72,174 ) 58.08 Balance at December 31, 2013 634,361 $ 41.59 831,298 $ 59.77 Granted 84,452 64.75 314,614 65.78 Exercised/Vested (375,316 ) 47.85 (305,372 ) 55.97 Forfeited (21,686 ) 62.32 (21,597 ) 64.14 Balance at December 31, 2014 321,811 $ 38.97 818,943 $ 63.39 Granted 26,752 75.17 257,749 74.53 Exercised/Vested (53,358 ) 37.69 (313,628 ) 61.10 Forfeited — — (12,818 ) 67.96 Total options and nonvested share awards outstanding at December 31, 2015 295,205 $ 42.49 750,246 $ 68.09 |
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block] | The following table presents information related to our ESPP: 2015 2014 2013 Shares purchased 14,655 25,728 17,171 Weighted average fair value of shares purchased $ 74.66 $ 71.19 $ 62.59 Expense recorded (in millions) $ 0.2 $ 0.5 $ 0.2 |
Temporary Equity [Table Text Block] | The following table summarizes the eligible share award activity as recorded in temporary equity for the years ended December 31: (in thousands) Year Ended December 31, 2015 Year Ended December 31, 2014 Temporary equity: Balance at inception/beginning of period $ 68,134 $ 47,180 Change in classification 10,999 7,702 Change in redemption value 3,788 17,921 Diversification of share awards (3,557 ) (4,669 ) Balance at December 31 $ 79,364 $ 68,134 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Financial Assets And Liabilities Measured At Fair Value | The following table presents information about our financial instruments measured at fair value on a recurring basis as of December 31, 2015 and 2014 using the inputs and fair value hierarchy discussed in Note 2, “Summary of Significant Accounting Policies and Recent Accounting Pronouncements”: Financial Instruments Measured at Fair Value on a Recurring Basis December 31, 2015 December 31, 2014 (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Deferred compensation plan investments (1) $ 53.6 $ — $ — $ 53.6 $ 56.1 $ — $ — $ 56.1 (1) Approximately $8.4 million and $1.5 million of participant cash was withdrawn from our deferred compensation plan investments during the years ended December 31, 2015 and 2014, respectively. |
Fair Value Of Notes Payable | The following table presents the carrying and estimated fair values of our notes payable at December 31, 2015 and 2014, in accordance with the policies discussed in Note 2, "Summary of Significant Accounting Policies and Recent Accounting Pronouncements." December 31, 2015 December 31, 2014 (in millions) Carrying Value (1) Estimated Fair Value Carrying Value (1) Estimated Fair Value Fixed rate notes payable $ 2,273.3 $ 2,358.8 $ 2,521.5 $ 2,666.1 Floating rate notes payable (2) 451.4 441.3 209.1 203.7 (1) All amounts presented have been changed to reflect our adoption of ASU 2015-03 (as supplemented by ASU 2015-15) at December 31, 2015, which required retrospective application. (2) Includes balances outstanding under our unsecured credit facility and unsecured short-term borrowings. |
Net Change In Operating Accou35
Net Change In Operating Accounts (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Increase (Decrease) in Operating Capital [Abstract] | |
Effect Of Changes In The Operating Accounts On Cash Flows From Operating Activities | The effect of changes in the operating accounts and other on cash flows from operating activities is as follows: Year Ended December 31, (in thousands) 2015 2014 2013 Change in assets: Other assets, net $ (1,648 ) $ (2,145 ) $ (2,639 ) Change in liabilities: Accounts payable and accrued expenses (15,528 ) 19,296 (8,138 ) Accrued real estate taxes 6,386 4,009 7,165 Other liabilities 2,306 (1,666 ) 22,139 Other 2,773 2,583 2,706 Change in operating accounts and other $ (5,711 ) $ 22,077 $ 21,233 |
Non-controlling Interests (Tabl
Non-controlling Interests (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Non-controlling Interest [Line Items] | |
Non-controlling Interests [Table Text Block] | The following table summarizes the effect of changes in our ownership interest in subsidiaries on the equity attributable to common shareholders for each of the years ended December 31: 2015 2014 2013 Net income attributable to common shareholders $ 249,315 $ 292,089 $ 336,364 Transfers from non-controlling interests: Increase in equity for conversion of operating partnership units 86 52 52 Decrease in additional paid-in-capital for purchase of remaining non-controlling ownership interests in two consolidated joint ventures (1) (9,480 ) — — Change in common equity and net transfers from non-controlling interests $ 239,921 $ 292,141 $ 336,416 (1) Refer to Note 7, "Acquisitions, Dispositions, Impairment, and Discontinued Operations," for further discussion of acquisitions. |
Quarterly Financial Data (Una37
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Data [Abstract] | |
Schedule of Quarterly Financial Data [Table Text Block] | Summarized quarterly financial data, for the years ended December 31, 2015 and 2014 , is as follows: (in thousands, except per share amounts) First Second Third Fourth Total (a) 2015: Revenues $ 215,434 $ 220,651 $ 227,185 $ 229,658 $ 892,928 Net income attributable to common shareholders 115,599 36,079 37,044 60,593 249,315 Net income attributable to common shareholders per share – basic 1.29 (b) 0.40 0.41 0.67 (c) 2.77 Net income attributable to common shareholders per share – diluted 1.27 (b) 0.40 0.41 0.67 (c) 2.76 2014: Revenues $ 205,929 $ 208,492 $ 213,098 $ 216,459 $ 843,978 Net income attributable to common shareholders 40,036 35,272 38,283 178,498 292,089 Net income attributable to common shareholders per share – basic 0.45 (d) 0.40 (e) 0.43 (f) 1.99 (g) 3.29 Net income attributable to common shareholders per share – diluted 0.45 (d) 0.40 (e) 0.43 (f) 1.98 (g) 3.27 (a) Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. (b) Includes a $85,192 , or $0.96 basic and $0.94 diluted per share, impact related to a gain on sale of two operating properties and land. (c) Includes a $18,870 , or $0.21 basic and diluted per share, impact related to a gain on sale of one operating property. (d) Includes a $3,566 , or $0.04 basic and diluted per share, impact related to our proportionate gain on sale of two operating properties by our funds, which is included in equity in income of joint ventures. (e) Includes a $1,447 , or $0.02 basic and diluted per share, impact related to a gain on sale of land, and a $1,152 , or $0.01 basic and diluted per share, impact related to an impairment charge associated with land holdings. (f) Includes a $1,808 , or $0.02 basic and diluted per share, impact related to a gain on sale of land. (g) Includes a $155,680 , or $1.76 basic and $1.73 diluted per share, impact related to the gain on sale of operating properties, and a $10,000 , or $0.11 basic and diluted per share, impact related to incentive compensation expense as a result of joint venture restructuring. |
Schedule III - Real Estate an38
Schedule III - Real Estate and Accumulated Depreciation (Summary) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Schedule III - Real Estate and Accumulated Depreciation [Text Block] | Camden Property Trust Schedule III Initial Cost Total Cost Land Building/ Construction in Progress & Improvements Cost Subsequent to Acquisition/ Construction Land Building/ Construction in Progress & Improvements Total Accumulated Depreciation Total Cost, Net of Accumulated Depreciation Encumbrances Year of Completion/ Acquisition Current communities: ARIZONA Phoenix/Scottsdale Camden Copper Square $ 4,825 $ 23,672 $ 6,793 $ 4,825 $ 30,465 $ 35,290 $ 15,162 $ 20,128 2000 Camden Foothills 11,006 33,343 318 11,006 33,661 44,667 2,023 42,644 2014 Camden Hayden 9,248 35,108 — 9,248 35,108 44,356 1,518 42,838 2015 Camden Legacy 4,068 26,612 11,546 4,068 38,158 42,226 21,388 20,838 1998 Camden Montierra 13,687 31,727 4,941 13,687 36,668 50,355 4,442 45,913 2012 Camden Pecos Ranch 3,362 24,492 4,649 3,362 29,141 32,503 5,083 27,420 2012 Camden San Marcos 11,520 35,166 5,271 11,520 40,437 51,957 5,047 46,910 2012 Camden San Paloma 6,480 23,045 8,233 6,480 31,278 37,758 13,643 24,115 2002 Camden Sotelo 3,376 30,576 595 3,376 31,171 34,547 2,748 31,799 2013 CALIFORNIA Los Angeles/Orange County Camden Crown Valley 9,381 54,210 9,124 9,381 63,334 72,715 27,224 45,491 2001 Camden Glendale 21,492 91,709 — 21,492 91,709 113,201 2,538 110,663 2015 Camden Harbor View 16,079 127,459 9,796 16,079 137,255 153,334 50,254 103,080 $ 92,716 2003 Camden Main and Jamboree 17,363 75,387 1,091 17,363 76,478 93,841 13,886 79,955 48,902 2008 Camden Martinique 28,401 51,861 17,589 28,401 69,450 97,851 36,987 60,864 32,969 1998 Camden Parkside 29,730 34,368 3,529 29,730 37,897 67,627 5,461 62,166 2012 Camden Sea Palms 4,336 9,930 3,474 4,336 13,404 17,740 7,559 10,181 1998 San Diego/Inland Empire Camden Landmark 17,339 71,315 1,505 17,339 72,820 90,159 8,847 81,312 2012 Camden Old Creek 20,360 71,777 1,271 20,360 73,048 93,408 21,058 72,350 2007 Camden Sierra at Otay Ranch 10,585 49,781 4,752 10,585 54,533 65,118 21,353 43,765 2003 Camden Tuscany 3,330 36,466 4,294 3,330 40,760 44,090 15,318 28,772 2003 Camden Vineyards 4,367 28,494 2,745 4,367 31,239 35,606 13,057 22,549 2002 COLORADO Denver Camden Belleview Station 8,091 44,003 1,129 8,091 45,132 53,223 5,077 48,146 2012 Camden Caley 2,047 17,445 5,339 2,047 22,784 24,831 10,600 14,231 15,351 2000 Camden Denver West 6,396 51,552 5,124 6,396 56,676 63,072 5,512 57,560 2012 Camden Flatirons 6,849 72,395 — 6,849 72,395 79,244 3,893 75,351 2015 Camden Highlands Ridge $ 2,612 $ 34,726 $ 10,712 $ 2,612 $ 45,438 $ 48,050 $ 21,547 $ 26,503 1996 Camden Interlocken 5,293 31,612 8,900 5,293 40,512 45,805 20,069 25,736 $ 27,431 1999 Camden Lakeway 3,915 34,129 12,513 3,915 46,642 50,557 23,650 26,907 29,267 1997 WASHINGTON DC METRO Camden Ashburn Farm 4,835 22,604 1,748 4,835 24,352 29,187 8,175 21,012 2005 Camden Clearbrook 2,384 44,017 1,201 2,384 45,218 47,602 13,207 34,395 2007 Camden College Park 16,409 91,503 3,689 16,409 95,192 111,601 15,780 95,821 2008 Camden Dulles Station 10,807 61,548 2,623 10,807 64,171 74,978 16,228 58,750 2008 Camden Fair Lakes 15,515 104,223 8,286 15,515 112,509 128,024 36,522 91,502 2005 Camden Fairfax Corner 8,484 72,953 5,630 8,484 78,583 87,067 23,919 63,148 2006 Camden Fallsgrove 9,408 43,647 4,524 9,408 48,171 57,579 16,031 41,548 2005 Camden Grand Parc 7,688 35,900 2,200 7,688 38,100 45,788 12,152 33,636 2005 Camden Lansdowne 15,502 102,267 6,738 15,502 109,005 124,507 36,113 88,394 2005 Camden Largo Town Center 8,411 44,163 3,064 8,411 47,227 55,638 15,279 40,359 2005 Camden Monument Place 9,030 54,089 1,080 9,030 55,169 64,199 15,600 48,599 2007 Camden NoMa 19,442 82,126 211 19,442 82,337 101,779 6,972 94,807 2014 Camden Potomac Yard 16,498 88,317 881 16,498 89,198 105,696 23,649 82,047 2008 Camden Roosevelt 11,470 45,785 1,077 11,470 46,862 58,332 15,548 42,784 2005 Camden Russett 13,460 61,837 4,469 13,460 66,306 79,766 22,097 57,669 45,063 2005 Camden Silo Creek 9,707 45,301 1,919 9,707 47,220 56,927 15,517 41,410 2005 Camden Summerfield 14,659 48,404 1,310 14,659 49,714 64,373 13,619 50,754 2008 Camden Summerfield II 4,459 20,566 5 4,459 20,571 25,030 3,545 21,485 2012 FLORIDA Southeast Florida Camden Aventura 12,185 47,616 10,795 12,185 58,411 70,596 20,219 50,377 2005 Camden Boca Raton 2,201 49,499 419 2,201 49,918 52,119 2,738 49,381 2014 Camden Brickell 14,621 57,031 10,979 14,621 68,010 82,631 23,189 59,442 2005 Camden Doral 10,260 40,416 6,052 10,260 46,468 56,728 14,833 41,895 2005 Camden Doral Villas 6,476 25,543 6,115 6,476 31,658 38,134 10,573 27,561 2005 Camden Las Olas 12,395 79,518 8,417 12,395 87,935 100,330 29,251 71,079 2005 Camden Plantation 6,299 77,964 7,211 6,299 85,175 91,474 28,721 62,753 2005 Camden Portofino 9,867 38,702 4,509 9,867 43,211 53,078 14,712 38,366 2005 Orlando Camden Hunter's Creek 4,156 20,925 4,863 4,156 25,788 29,944 8,566 21,378 2005 Camden Lago Vista $ 3,497 $ 29,623 $ 2,161 $ 3,497 $ 31,784 $ 35,281 $ 11,388 $ 23,893 2005 Camden LaVina 12,907 42,569 143 12,907 42,712 55,619 7,971 47,648 2012 Camden Lee Vista 4,350 34,643 5,423 4,350 40,066 44,416 19,608 24,808 2000 Camden Orange Court 5,319 40,733 1,696 5,319 42,429 47,748 11,184 36,564 2008 Camden Renaissance 4,144 39,987 6,521 4,144 46,508 50,652 24,525 26,127 1997 Camden Town Square 13,127 45,997 93 13,127 46,090 59,217 6,858 52,359 2012 Camden World Gateway 5,785 51,821 7,065 5,785 58,886 64,671 18,493 46,178 2005 Tampa/St. Petersburg Camden Bay 7,450 63,283 10,863 7,450 74,146 81,596 34,129 47,467 1998/2002 Camden Lakes 3,106 22,746 14,866 3,106 37,612 40,718 30,424 10,294 1997 Camden Montague 3,576 16,534 159 3,576 16,693 20,269 3,035 17,234 2012 Camden Preserve 1,206 17,982 7,003 1,206 24,985 26,191 13,197 12,994 1997 Camden Royal Palms 2,147 38,339 2,389 2,147 40,728 42,875 11,358 31,517 2007 Camden Westchase Park 11,955 36,254 120 11,955 36,374 48,329 5,751 42,578 2012 Camden Westshore 1,734 10,819 7,550 1,734 18,369 20,103 13,877 6,226 1997 Camden Woods 2,693 19,930 11,439 2,693 31,369 34,062 22,450 11,612 1999 GEORGIA Atlanta Camden Brookwood 7,174 31,984 7,091 7,174 39,075 46,249 13,622 32,627 $ 22,624 2005 Camden Creekstone 5,017 19,912 1,009 5,017 20,921 25,938 2,662 23,276 2012 Camden Deerfield 4,895 21,922 6,807 4,895 28,729 33,624 9,698 23,926 19,220 2005 Camden Dunwoody 5,290 23,642 7,817 5,290 31,459 36,749 10,836 25,913 21,168 2005 Camden Fourth Ward 10,477 51,258 308 10,477 51,566 62,043 2,576 59,467 2014 Camden Midtown Atlanta 6,196 33,828 7,227 6,196 41,055 47,251 13,754 33,497 20,565 2005 Camden Paces 15,262 102,270 — 15,262 102,270 117,532 4,191 113,341 2015 Camden Peachtree City 6,536 29,063 5,488 6,536 34,551 41,087 11,670 29,417 2005 Camden Shiloh 4,181 18,798 4,995 4,181 23,793 27,974 8,231 19,743 10,576 2005 Camden St. Clair 7,526 27,486 7,013 7,526 34,499 42,025 12,290 29,735 21,646 2005 Camden Stockbridge 5,071 22,693 3,334 5,071 26,027 31,098 9,260 21,838 14,332 2005 Camden Vantage 11,787 68,822 1,451 11,787 70,273 82,060 6,358 75,702 2013 NEVADA Las Vegas Camden Bel Air $ 3,594 $ 31,221 $ 7,995 $ 3,594 $ 39,216 $ 42,810 $ 24,208 $ 18,602 1998 Camden Breeze 2,894 15,828 5,834 2,894 21,662 24,556 13,160 11,396 1998 Camden Canyon 1,802 11,666 5,573 1,802 17,239 19,041 10,819 8,222 1998 Camden Centre 172 1,166 412 172 1,578 1,750 1,028 722 1998 Camden Commons 2,476 20,073 7,426 2,476 27,499 29,975 19,319 10,656 1998 Camden Cove 1,382 6,266 2,118 1,382 8,384 9,766 5,564 4,202 1998 Camden Del Mar 4,404 35,264 15,359 4,404 50,623 55,027 31,879 23,148 1998 Camden Fairways 3,969 15,543 10,440 3,969 25,983 29,952 18,223 11,729 1998 Camden Hills 853 7,834 1,908 853 9,742 10,595 6,388 4,207 1998 Camden Legends 1,370 6,382 1,525 1,370 7,907 9,277 4,653 4,624 1998 Camden Palisades 8,406 31,497 9,803 8,406 41,300 49,706 24,581 25,125 1998 Camden Pines 3,496 21,852 3,037 3,496 24,889 28,385 3,681 24,704 2012 Camden Pointe 2,058 14,879 3,643 2,058 18,522 20,580 10,493 10,087 1998 Camden Summit 11,212 18,399 2,745 11,212 21,144 32,356 3,107 29,249 2012 Camden Tiara 7,709 28,644 3,685 7,709 32,329 40,038 4,697 35,341 2012 Camden Vintage 3,641 19,255 6,147 3,641 25,402 29,043 16,196 12,847 1998 NORTH CAROLINA Charlotte Camden Ballantyne 4,503 30,250 7,542 4,503 37,792 42,295 13,620 28,675 $ 26,025 2005 Camden Cotton Mills 4,246 19,147 5,744 4,246 24,891 29,137 9,134 20,003 2005 Camden Dilworth 516 16,633 2,066 516 18,699 19,215 5,883 13,332 13,073 2006 Camden Fairview 1,283 7,223 3,728 1,283 10,951 12,234 4,477 7,757 2005 Camden Foxcroft 1,408 7,919 3,839 1,408 11,758 13,166 4,904 8,262 2005 Camden Grandview 7,570 33,859 7,168 7,570 41,027 48,597 14,599 33,998 2005 Camden Sedgebrook 5,266 29,211 6,632 5,266 35,843 41,109 12,879 28,230 21,306 2005 Camden Simsbury 1,152 6,499 2,295 1,152 8,794 9,946 3,272 6,674 2005 Camden South End Square 6,625 29,175 7,202 6,625 36,377 43,002 12,345 30,657 2005 Camden Stonecrest 3,941 22,021 5,613 3,941 27,634 31,575 10,188 21,387 2005 Camden Touchstone 1,203 6,772 2,800 1,203 9,572 10,775 4,114 6,661 2005 Raleigh Camden Crest $ 4,412 $ 31,108 $ 5,088 $ 4,412 $ 36,196 $ 40,608 $ 11,999 $ 28,609 2005 Camden Governor's Village 3,669 20,508 3,020 3,669 23,528 27,197 8,483 18,714 $ 13,004 2005 Camden Lake Pine 5,746 31,714 6,809 5,746 38,523 44,269 14,159 30,110 26,212 2005 Camden Manor Park 2,535 47,159 1,993 2,535 49,152 51,687 16,035 35,652 29,675 2006 Camden Overlook 4,591 25,563 8,080 4,591 33,643 38,234 12,040 26,194 2005 Camden Reunion Park 3,302 18,457 4,976 3,302 23,433 26,735 8,627 18,108 19,961 2005 Camden Westwood 4,567 25,519 4,371 4,567 29,890 34,457 10,615 23,842 19,907 2005 TEXAS Austin Camden Cedar Hills 2,684 20,931 517 2,684 21,448 24,132 6,251 17,881 2008 Camden Gaines Ranch 5,094 37,100 9,337 5,094 46,437 51,531 15,616 35,915 2005 Camden Huntingdon 2,289 17,393 9,542 2,289 26,935 29,224 14,947 14,277 1995 Camden La Frontera 3,250 32,379 — 3,250 32,379 35,629 1,989 33,640 2015 Camden Lamar Heights 3,988 42,775 — 3,988 42,775 46,763 2,523 44,240 2015 Camden Stoneleigh 3,498 31,285 7,244 3,498 38,529 42,027 12,373 29,654 2006 Corpus Christi Camden Breakers 1,055 13,024 8,818 1,055 21,842 22,897 12,162 10,735 1996 Camden Copper Ridge 1,204 9,180 8,004 1,204 17,184 18,388 12,765 5,623 1993 Camden Miramar — 38,784 20,139 — 58,923 58,923 22,527 36,396 1994-2014 Dallas/Fort Worth Camden Addison 11,516 29,332 6,953 11,516 36,285 47,801 6,210 41,591 2012 Camden Belmont 12,521 61,522 1,302 12,521 62,824 75,345 8,053 67,292 2012 Camden Buckingham 2,704 21,251 8,882 2,704 30,133 32,837 15,700 17,137 1997 Camden Centreport 1,613 12,644 6,046 1,613 18,690 20,303 9,505 10,798 1997 Camden Cimarron 2,231 14,092 6,903 2,231 20,995 23,226 12,544 10,682 1997 Camden Farmers Market 17,341 74,193 15,916 17,341 90,109 107,450 37,714 69,736 50,711 2001/2005 Camden Henderson 3,842 15,256 205 3,842 15,461 19,303 2,253 17,050 2012 Camden Legacy Creek 2,052 12,896 5,955 2,052 18,851 20,903 10,469 10,434 1997 Camden Legacy Park 2,560 15,449 6,888 2,560 22,337 24,897 12,251 12,646 13,866 1997 Camden Valley Park 3,096 14,667 13,652 3,096 28,319 31,415 25,562 5,853 1994 Houston Camden City Centre 4,976 44,735 1,212 4,976 45,947 50,923 13,320 37,603 33,795 2007 Camden City Centre II $ 5,101 $ 28,131 $ 46 $ 5,101 $ 28,177 $ 33,278 $ 3,956 $ 29,322 2013 Camden Greenway 16,916 43,933 16,829 16,916 60,762 77,678 30,368 47,310 $ 52,359 1999 Camden Holly Springs 11,108 42,852 9,996 11,108 52,848 63,956 8,223 55,733 2012 Camden Midtown 4,583 18,026 8,711 4,583 26,737 31,320 14,008 17,312 28,058 1999 Camden Oak Crest 2,078 20,941 4,193 2,078 25,134 27,212 10,457 16,755 17,309 2003 Camden Park 4,922 16,453 3,705 4,922 20,158 25,080 3,133 21,947 2012 Camden Plaza 7,204 31,044 1,314 7,204 32,358 39,562 5,836 33,726 20,714 2007 Camden Post Oak 14,056 92,515 9,098 14,056 101,613 115,669 9,146 106,523 2013 Camden Royal Oaks 1,055 20,046 1,055 1,055 21,101 22,156 7,109 15,047 2006 Camden Royal Oaks II 587 12,743 15 587 12,758 13,345 2,201 11,144 2012 Camden Stonebridge 1,016 7,137 4,133 1,016 11,270 12,286 7,338 4,948 1993 Camden Sugar Grove 7,614 27,594 2,155 7,614 29,749 37,363 4,392 32,971 2012 Camden Travis Street 1,780 29,104 485 1,780 29,589 31,369 7,457 23,912 21,614 2010 Camden Vanderbilt 16,076 44,918 19,590 16,076 64,508 80,584 38,370 42,214 73,165 1994/1997 Camden Whispering Oaks 1,188 26,242 870 1,188 27,112 28,300 7,766 20,534 2008 Total current communities: $ 1,043,345 $ 5,436,835 $ 781,605 $ 1,043,345 $ 6,218,440 $ 7,261,785 $ 1,976,958 $ 5,284,827 $ 902,584 Communities under construction: Name / location Camden Chandler (1) Chandler, AZ $ — $ 66,391 $ — $ — $ 66,391 $ 66,391 $ 1,634 $ 64,757 N/A Camden Gallery Charlotte, NC — 50,392 — — 50,392 50,392 55 50,337 N/A Camden Lincoln Station Denver, CO — 18,226 — — 18,226 18,226 — 18,226 N/A Camden McGowen Station Houston, TX — 14,064 — — 14,064 14,064 — 14,064 N/A Camden NoMa II Washington, DC — 45,524 — — 45,524 45,524 — 45,524 N/A Camden Shady Grove Rockville, MD — 51,376 — — 51,376 51,376 — 51,376 N/A Camden Victory Park Dallas, TX — 67,201 — — 67,201 67,201 42 67,159 N/A The Camden Los Angeles, CA — 111,703 — — 111,703 111,703 1 111,702 N/A Total communities under construction: $ — $ 424,877 $ — $ — $ 424,877 $ 424,877 $ 1,732 $ 423,145 $ — Development pipeline communities: Name/location Camden Arts District Los Angeles, CA $ — $ 13,002 $ — $ — $ 13,002 $ 13,002 $ — $ 13,002 N/A Camden Atlantic Plantation, FL — 13,428 — — 13,428 13,428 — 13,428 N/A Camden Buckhead Atlanta, GA — 22,341 — — 22,341 22,341 — 22,341 N/A Camden Conte Houston, TX — 21,039 — — 21,039 21,039 — 21,039 N/A Camden North End Phoenix, AZ — 38,319 — — 38,319 38,319 — 38,319 N/A Camden Washingtonian — 18,369 — — 18,369 18,369 — 18,369 N/A Total development pipeline communities: $ — $ 126,498 $ — $ — $ 126,498 $ 126,498 $ — $ 126,498 $ — Land Holdings $ — $ 6,212 $ — $ — $ 6,212 $ 6,212 $ — $ 6,212 N/A Corporate — 5,284 — — 5,284 5,284 — 5,284 N/A $ — $ 11,496 $ — $ — $ 11,496 $ 11,496 $ — $ 11,496 $ — TOTAL $ 1,043,345 $ 5,999,706 $ 781,605 $ 1,043,345 $ 6,781,311 $ 7,824,656 $ 1,978,690 $ 5,845,966 $ 902,584 (1) Property is in lease-up at December 31, 2015 . Balances presented here includes costs which are included in buildings and improvements and land on the consolidated balance sheet at December 31, 2015 . These costs related to completed unit turns for these properties. Camden Property Trust Real Estate and Accumulated Depreciation As of December 31, 2015 (in thousands) Schedule III The changes in total real estate assets for the years ended December 31: 2015 2014 2013 Balance, beginning of period $ 7,421,516 $ 7,072,181 $ 6,673,914 Additions during period: Acquisition of operating properties and unconsolidated joint ventures — 61,736 221,421 Development and repositions 351,998 469,048 306,950 Improvements 75,847 58,233 67,049 Deductions during period: Cost of real estate sold – other (24,705 ) (172,475 ) (197,153 ) Classification to held for sale — (67,207 ) — Balance, end of period $ 7,824,656 $ 7,421,516 $ 7,072,181 The changes in accumulated depreciation for the years ended December 31: 2015 2014 2013 Balance, beginning of period $ 1,738,862 $ 1,643,713 $ 1,518,896 Depreciation of real estate assets 250,093 229,256 203,897 Dispositions (10,265 ) (94,043 ) (79,080 ) Transfers to held for sale — (40,064 ) — Balance, end of period $ 1,978,690 $ 1,738,862 $ 1,643,713 The aggregate cost for federal income tax purposes at December 31, 2015 was $6.8 billion . |
Schedule IV - Mortgage Loans 39
Schedule IV - Mortgage Loans on Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Mortgage Loans on Real Estate [Abstract] | |
Mortgage Loans on Real Estate Table [Table Text Block] | Camden Property Trust As of December 31, 2015 Schedule IV ($ in thousands) Description Interest Rate Final Maturity Date Periodic payment terms Face amount of mortgages Carry amount of mortgages (a) Undeveloped Land First lien note Houston, TX Prime + 1.00% July 2019 (b) $ 3,395 $ 3,395 Parking Garage Developer advances Houston, TX (c) (d) (e) 18,000 9,766 Total $ 21,395 $ 13,161 (a) The aggregate cost at December 31, 2015 for federal income tax purposes was approximately $13,161 . (b) Periodic payments are interest only until January 1, 2017, at which date interest and equal payments of principal are due each July 1 and January 1 until the final maturity date. (c) This loan currently bears interest at 4% and will increase to 7% on any unpaid principal balance on the later of January 1, 2018 or January 1 of the year following completion of our planned apartment project at an adjacent location. (d) This loan matures on October 1 in the 13th year following the year of completion of the parking garage. (e) Periodic payments are currently interest only, and will consist of interest and principal payments following the year of completion of the parking garage through maturity. |
Changes in Mortgage Loans [Table Text Block] | Changes in mortgage loans for the years ended December 31 are summarized below: 2015 2014 2013 Balance, beginning of period $ 3,395 $ 3,395 $ 3,395 Additions: Advances under real estate loans 9,766 — — Deductions: — — — Balance, end of period $ 13,161 $ 3,395 $ 3,395 |
Description Of Business (Detail
Description Of Business (Details) | Dec. 31, 2015 |
Description of Business [Abstract] | |
Number of multifamily communities comprising of apartment homes | 180 |
Total number of apartment homes in multifamily communities | 62,649 |
Number of multifamily properties under development | 8 |
Total number of apartment homes in multifamily properties upon completion of development | 2,857 |
Summary of Significant Accoun41
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
Accounting Policies [Abstract] | |||||
Leasehold Improvements, Gross | $ 12,200 | ||||
Average amortization period for below market leases and in-place leases | 8 months | 7 months | 6 months | ||
Outstanding notes receivable | $ 13,161 | $ 3,395 | $ 3,395 | $ 3,395 | |
Weighted average interest rate on outstanding notes receivable | 4.10% | 4.30% | |||
Remaining Commitment Under Notes Receivable | $ 8,300 | ||||
Unamortized debt issuance costs included in notes payable | 10,900 | $ 12,900 | |||
Capitalized interest | 19,300 | 22,200 | 15,700 | ||
Capitalized real estate taxes | $ 3,600 | $ 4,400 | $ 3,000 | ||
Percentage Of Rental Revenue And Other Income From Leasing Of Apartment Homes | 99.00% | 99.00% | 98.00% | ||
Amortization of deferred financing costs included in interest expense | $ 1,700 | $ 1,600 | $ 1,700 |
Summary of Significant Accoun42
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Net Carrying Value of Below Market Leases and In-Place Leases) Table (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Accounting Policies [Abstract] | ||
Below market leases (Gross carrying value) | $ 0.5 | $ 0.5 |
Accumulated amortization | (0.5) | (0.4) |
Value of below market leases, net | 0 | 0.1 |
In-place leases (Gross carrying value) | 3 | 3 |
Accumulated amortization | (3) | (2.5) |
Value of in-place leases, net | $ 0 | $ 0.5 |
Summary of Significant Accoun43
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Amortization of below market leases and in-place leases) Table (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accounting Policies [Abstract] | |||
Revenues related to below market leases | $ 0.1 | $ 0.2 | $ 1.1 |
Amortization of in-place leases | $ 0.5 | $ 1.4 | $ 5.6 |
Summary of Significant Accoun44
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Expected Useful Lives Of Depreciable Property) (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Intangible assets/liabilities (in-place leases and below market leases) | underlying lease term |
Minimum [Member] | Buildings And Improvements [Member] | |
Estimated Useful Life (in years) | 5 years |
Minimum [Member] | Furniture, Fixtures, Equipment, And Other [Member] | |
Estimated Useful Life (in years) | 3 years |
Maximum [Member] | Buildings And Improvements [Member] | |
Estimated Useful Life (in years) | 35 years |
Maximum [Member] | Furniture, Fixtures, Equipment, And Other [Member] | |
Estimated Useful Life (in years) | 20 years |
Per Share Data (Calculation Of
Per Share Data (Calculation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2015 | [1] | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | [2] | Dec. 31, 2014 | [3] | Sep. 30, 2014 | [4] | Jun. 30, 2014 | [5] | Mar. 31, 2014 | [6] | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||
Earnings Per Share [Abstract] | |||||||||||||||||||
Number of common share equivalent securities excluded from the diluted earnings per share calculation | 2,600 | 2,800 | 2,100 | ||||||||||||||||
Income from continuing operations attributable to common shareholders | $ 249,315 | $ 292,089 | $ 151,594 | ||||||||||||||||
Amount allocated to participating securities | (2,052) | (2,687) | (3,177) | ||||||||||||||||
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities | 247,263 | 289,402 | 148,417 | ||||||||||||||||
Income from discontinued operations, including gain on sale, attributable to common shareholders | 0 | 0 | 184,770 | ||||||||||||||||
Net income attributable to common shareholders, as adjusted | $ 247,263 | $ 289,402 | $ 333,187 | ||||||||||||||||
Earnings per common share from continuing operations | $ 2.77 | $ 3.29 | $ 1.70 | ||||||||||||||||
Earnings per common share from discontinued operations | 0 | 0 | 2.12 | ||||||||||||||||
Total earnings per common share - basic | $ 0.67 | $ 0.41 | $ 0.40 | $ 1.29 | $ 1.99 | $ 0.43 | $ 0.40 | $ 0.45 | $ 2.77 | [7] | $ 3.29 | [7] | $ 3.82 | ||||||
Weighted average number of common shares outstanding - basic | 89,120 | 88,084 | 87,204 | ||||||||||||||||
Income allocated to common units from continuing operations | $ 0 | $ 0 | $ 1,133 | ||||||||||||||||
Income from continuing operations attributable to common shareholders, as adjusted | 247,263 | 289,402 | 149,550 | ||||||||||||||||
Net income attributable to common shareholders, as adjusted | $ 247,263 | $ 289,402 | $ 334,320 | ||||||||||||||||
Earnings per common share from continuing operations | $ 2.76 | $ 3.27 | $ 1.69 | ||||||||||||||||
Earnings per common share from discontinued operations | 0 | 0 | 2.09 | ||||||||||||||||
Total earnings per common share - diluted | $ 0.67 | $ 0.41 | $ 0.40 | $ 1.27 | $ 1.98 | $ 0.43 | $ 0.40 | $ 0.45 | $ 2.76 | [7] | $ 3.27 | [7] | $ 3.78 | ||||||
Common share options and share awards granted | 370 | 384 | 476 | ||||||||||||||||
Common units | 0 | 0 | 814 | ||||||||||||||||
Weighted average number of common shares outstanding - diluted | 89,490 | 88,468 | 88,494 | ||||||||||||||||
[1] | Includes a $18,870, or $0.21 basic and diluted per share, impact related to a gain on sale of one operating property. | ||||||||||||||||||
[2] | Includes a $85,192, or $0.96 basic and $0.94 diluted per share, impact related to a gain on sale of two operating properties and land. | ||||||||||||||||||
[3] | Includes a $155,680, or $1.76 basic and $1.73 diluted per share, impact related to the gain on sale of operating properties, and a $10,000, or $0.11 basic and diluted per share, impact related to incentive compensation expense as a result of joint venture restructuring. | ||||||||||||||||||
[4] | Includes a $1,808, or $0.02 basic and diluted per share, impact related to a gain on sale of land. | ||||||||||||||||||
[5] | Includes a $1,447, or $0.02 basic and diluted per share, impact related to a gain on sale of land, and a $1,152, or $0.01 basic and diluted per share, impact related to an impairment charge associated with land holdings | ||||||||||||||||||
[6] | Includes a $3,566, or $0.04 basic and diluted per share, impact related to our proportionate gain on sale of two operating properties by our funds, which is included in equity in income of joint ventures. | ||||||||||||||||||
[7] | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. |
Common Shares (Narrative) (Deta
Common Shares (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 2 Months Ended | 12 Months Ended | |||
Nov. 30, 2014 | May. 31, 2012 | Feb. 19, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Treasury Stock, Shares | 10,703,000 | 10,975,000 | ||||
Treasury Stock, Value | $ 386,793 | $ 396,626 | ||||
Number of common and preferred stock authorized to issue | 185,000,000 | |||||
Common shares, authorized | 175,000,000 | 175,000,000 | ||||
Preferred shares, authorized | 10,000,000 | |||||
Common Stock, Shares, Outstanding | 86,900,000 | |||||
Common shares issued | 0 | 898 | 555 | |||
2014 ATM program [Member] | ||||||
Maximum aggregate offering price of common shares | $ 331,300 | |||||
Common shares issued | 0 | 209,700 | ||||
2012 ATM Program [Member] | ||||||
Maximum aggregate offering price of common shares | $ 300,000 | |||||
Common shares issued | 688,300 | 555,100 | ||||
Subsequent Event [Member] | 2014 ATM program [Member] | ||||||
Maximum aggregate offering price of remaining common shares available for sale | $ 315,300 | |||||
Common shares issued | 0 | |||||
April 2007 Repurchase Plan [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 500,000 | |||||
Treasury Stock, Shares | 4,300,000 | |||||
Treasury Stock, Value | $ 230,200 | |||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 269,800 |
Common Shares (Activity Under A
Common Shares (Activity Under At-The-Market Share Offering Program) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Total net consideration | $ 66,225,000 | $ 40,044,000 | |
Common shares sold | 0 | 898 | 555 |
2014 ATM program [Member] | |||
Total net consideration | $ 15,690,200 | ||
Common shares sold | 0 | 209,700 | |
Average price per common share sold | $ 76.28 | ||
2012 ATM Program [Member] | |||
Total net consideration | $ 50,535,300 | $ 40,044,100 | |
Common shares sold | 688,300 | 555,100 | |
Average price per common share sold | $ 74.60 | $ 73.73 |
Operating Partnerships (Details
Operating Partnerships (Details) shares in Millions | 12 Months Ended |
Dec. 31, 2015shares | |
Camden Operating L P [Member] | |
Percentage Of Real Estate Properties Held With Operating Partnership | 7.00% |
Units of Partnership Interest, Amount | 11.9 |
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 92.20% |
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 1.00% |
Limited Partners' Capital Account, Units Outstanding | 0.8 |
Camden Summit Partnership L P [Member] | |
Percentage Of Real Estate Properties Held With Operating Partnership | 31.00% |
Units of Partnership Interest, Amount | 22.8 |
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 94.20% |
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 1.00% |
Limited Partners' Capital Account, Units Outstanding | 1.1 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Annual dividends distribution percentage to shareholders to qualify as a REIT | 90.00% | ||
Significant temporary differences or tax credits associated with our taxable REIT subsidiaries | $ 0 | ||
Operating Loss Carryforwards | 22,700 | ||
Difference Between Carry Value Of Net Assets And Tax Basis Of Net Assets | 1,400,000 | ||
Income tax expense | 1,872 | $ 1,903 | $ 1,826 |
Uncertain tax positions or unrecognized tax benefits | $ 0 | ||
Minimum [Member] | |||
Operating Loss Carryforwards, Expiration Dates | Jan. 1, 2030 | ||
Maximum [Member] | |||
Operating Loss Carryforwards, Expiration Dates | Jan. 1, 2035 |
Income Taxes (Schedule of Per S
Income Taxes (Schedule of Per Share Distributions Reported to Shareholders) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Ordinary Income | $ 1.88 | $ 1.23 | $ 1.40 |
Long-term capital gain | 0.70 | 1.02 | 0.76 |
Unrecaptured Sec. 1250 gain | 0.22 | 0.39 | 0.36 |
Total common share distributions | $ 2.80 | $ 2.64 | $ 2.52 |
Percentage Of Distributions Representing Tax Preference Items | 3.73% | 4.17% | 4.95% |
Acquisitions, Dispositions, I51
Acquisitions, Dispositions, Impairment, and Discontinued Operations (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
Oct. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Jan. 31, 2015USD ($) | Jul. 31, 2014USD ($)a | Feb. 28, 2014USD ($) | Dec. 31, 2015USD ($)a | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($)a | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2015USD ($)a | Dec. 31, 2014USD ($)a | Dec. 31, 2013USD ($) | Mar. 31, 2014 | |
Property, Plant and Equipment [Line Items] | ||||||||||||||
Number of operating properties acquired | 1 | |||||||||||||
Number of apartment units in wholly owned property acquired | 276 | |||||||||||||
Purchase price of operating properties acquired | $ 62,600,000 | |||||||||||||
Pro Forma Property Revenues of Acquiree since Acquisition Date, Actual | 800,000 | |||||||||||||
Pro Forma Property Expenses of Acquiree since Acquisition Date, Actual | $ 300,000 | |||||||||||||
Area of Land | a | 58.1 | 10.5 | 58.1 | 10.5 | ||||||||||
Purchase price of land acquired | $ 59,100,000 | $ 39,400,000 | ||||||||||||
Proceeds from Sale of Land Held-for-investment | 22,900,000 | |||||||||||||
Gain (loss) on disposition of land | $ 1,808,000 | $ 1,447,000 | 300,000 | 3,600,000 | ||||||||||
Impairment associated with land holdings | $ 1,152,000 | 0 | 1,152,000 | $ 0 | ||||||||||
Number of operating properties sold | 12 | |||||||||||||
Number of apartment homes in operating properties sold | 3,931 | |||||||||||||
Proceeds from Sale of Property, Plant, and Equipment | $ 65,600,000 | |||||||||||||
Gain (Loss) on Sale of Properties | $ 18,870,000 | $ 85,192,000 | $ 155,680,000 | |||||||||||
Noncontrolling Interest, Increase from Business Combination | 9,500,000 | $ 0 | $ 0 | |||||||||||
Corporate Joint Venture [Member] | ||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 0.01% | 0.01% | ||||||||||||
Number of Businesses Acquired | 2 | |||||||||||||
Number of Units in Real Estate Property | 798 | 798 | ||||||||||||
Noncontrolling Interest, Increase from Business Combination | $ 9,500,000 | |||||||||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||
Area of Land | a | 2.4 | 26.9 | 26.9 | |||||||||||
Proceeds from Sale of Land Held-for-investment | $ 800,000 | $ 1,100,000 | ||||||||||||
Number of Real Estate Properties | 2 | 1 | 2 | 5 | 1 | 5 | 2 | |||||||
Number of operating properties sold | 1 | 2 | ||||||||||||
Number of Units in Real Estate Property | 260 | 1,116 | 1,847 | 1,847 | ||||||||||
Proceeds from Sale of Property, Plant, and Equipment | $ 33,000,000 | $ 114,400,000 | $ 218,300,000 | |||||||||||
Gain (Loss) on Sale of Properties | $ 18,900,000 | $ 85,100,000 | $ 155,700,000 | |||||||||||
Land | 2 |
Acquisitions, Dispositions, I52
Acquisitions, Dispositions, Impairment, and Discontinued Operations (Fair value of assets acquired and liabilities assumed) (Details) $ in Millions | Dec. 31, 2014USD ($) |
Property, Plant and Equipment [Abstract] | |
Buildings and improvements | $ 51.3 |
Land | 10.5 |
Intangible and other assets | 0.9 |
Total assets acquired | 62.7 |
Other liabilities | 0.4 |
Total liabilities assumed | 0.4 |
Net assets acquired | $ 62.3 |
Acquisitions, Dispositions, I53
Acquisitions, Dispositions, Impairment, and Discontinued Operations (Summary Of Income From Discontinued Operations) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Property revenues | $ 24,322 | ||
Property expenses | (10,552) | ||
Operating results | 13,770 | ||
Depreciation and amortization | (5,255) | ||
Income from discontinued operations | $ 0 | $ 0 | 8,515 |
Gain on sale of discontinued operations, net of tax | 0 | 0 | 182,160 |
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations | 0 | 0 | (5,905) |
Income from discontinued operations, including gain on sale, attributable to common shareholders | $ 0 | $ 0 | $ 184,770 |
Investments In Joint Ventures54
Investments In Joint Ventures (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Feb. 28, 2014USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Number of joint ventures accounted for under equity method investments | 3 | 2 | 2 | ||
Equity method investment ownership percentage | 31.30% | 31.30% | 20.00% | ||
Maximum guaranteed amount of loans utilized for construction and development activities for joint ventures | $ 0 | ||||
Fees earned for property and asset management, construction, development, and other services to joint ventures | 5,800,000 | $ 8,800,000 | $ 10,000,000 | ||
Number of operating properties sold | 12 | ||||
Number of apartment homes in operating properties sold | 3,931 | ||||
Proceeds from Sale of Property, Plant, and Equipment | $ 65,600,000 | ||||
Gain on sale of property by unconsolidated joint venture | $ 3,600,000 | $ 3,566,000 | |||
Maximum Investments by Formed Unconsolidated Joint Venture | $ 450,000,000 | ||||
Corporate Joint Venture [Member] | |||||
Equity method investment ownership percentage | 20.00% | ||||
Sale of two operating properties within the funds in 2014 [Member] | |||||
Number of operating properties sold | 2 | ||||
Number of apartment homes in operating properties sold | 558 | ||||
Sale of 16 operating properties within two unconsolidated joint ventures in 2013 [Member] | |||||
Number of operating properties sold | 16 |
Investments In Joint Ventures55
Investments In Joint Ventures (Aggregate Balance Sheet And Statement Of Income Data For Unconsolidated Joint Ventures) (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | |||||
Feb. 28, 2014 | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | ||||
Schedule of Equity Method Investments [Line Items] | |||||||
Total assets | [1] | $ 748,000 | $ 756,900 | ||||
Total third party debt | [1] | 527,000 | 522,700 | ||||
Total equity | 195,300 | 203,300 | |||||
Total revenues | 114,500 | 105,600 | [2] | $ 93,900 | [2] | ||
Gain On Sale Of Joint Venture Operating Property Net Of Tax | 0 | 18,500 | 112,400 | ||||
Net income | 12,000 | 26,900 | 120,700 | ||||
Equity in income of joint ventures | [3] | $ 6,168 | 7,023 | $ 24,865 | |||
Number of operating properties sold | 12 | ||||||
Sale of two operating properties within the funds in 2014 [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Revenues from discontinued operations attributable to unconsolidated joint venture | $ 1,100 | $ 7,400 | |||||
Number of operating properties sold | 2 | ||||||
Sale of 16 operating properties within two unconsolidated joint ventures in 2013 [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Revenues from discontinued operations attributable to unconsolidated joint venture | $ 17,900 | ||||||
Number of operating properties sold | 16 | ||||||
[1] | All periods presented have been changed to reflect the funds' adoption of ASU 2015-03 (as supplemented by ASU 2015-15) at December 31, 2015, which required retrospective application. | ||||||
[2] | Excludes approximately $1.1 million and $7.4 million of revenue for the years ended December 31, 2014 and 2013, respectively, related to the sale of two operating properties by the funds during the first quarter of 2014. These properties were held for sale within two of our unconsolidated joint ventures at December 31, 2013. Also excludes approximately $17.9 million related to discontinued operations from the sale of 16 operating properties within two of our unconsolidated joint ventures during 2013 | ||||||
[3] | Equity in income excludes our ownership interest of fee income from various services provided by us to the funds. |
Notes Payable (Summary Of Indeb
Notes Payable (Summary Of Indebtedness) (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | May. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Unsecured Debt | $ 1,824,930 | $ 1,828,485 | ||
Secured notes payable | 899,757 | 902,128 | ||
Total notes payable | 2,724,700 | 2,730,600 | ||
Value Of Real Estate Assets At Cost Subject To Secured Notes | 1,568,900 | 1,541,300 | ||
Unamortized debt discounts and debt issuance costs | 18,600 | 21,800 | ||
Commercial Banks [Member] | ||||
Unsecured Debt | 244,000 | 0 | ||
Senior Unsecured Notes [Member] | ||||
Unsecured Debt | 1,580,900 | 1,828,500 | ||
5.08% Notes Due 2015 [Member] | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | 0 | 249,800 | ||
Notes payable, effective interest rate | 5.08% | |||
Debt Instrument, Maturity Date | Jun. 15, 2015 | |||
5.83% Notes Due 2017 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 246,300 | 246,000 | ||
Notes payable, effective interest rate | 5.83% | |||
Debt Instrument, Maturity Date | May 15, 2017 | |||
4.78% Notes Due 2021 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 248,000 | 247,700 | ||
Notes payable, effective interest rate | 4.78% | |||
Debt Instrument, Maturity Date | Jun. 15, 2021 | |||
3.15% Notes Due 2022 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 345,400 | 344,700 | ||
Notes payable, effective interest rate | 3.15% | |||
Debt Instrument, Maturity Date | Dec. 15, 2022 | |||
5.07% Notes Due 2023 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 246,800 | 246,500 | ||
Notes payable, effective interest rate | 5.07% | |||
Debt Instrument, Maturity Date | Jun. 15, 2023 | |||
4.36% Notes Due 2024 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 248,000 | 247,700 | ||
Notes payable, effective interest rate | 4.36% | |||
Debt Instrument, Maturity Date | Jan. 15, 2024 | |||
3.68% Notes Due 2024 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 246,400 | 246,100 | ||
Notes payable, effective interest rate | 3.68% | |||
Debt Instrument, Maturity Date | Sep. 15, 2024 | |||
Secured Notes 1.12% to 5.77% Conventional Mortgage Notes Due 2018 to 2045 [Member] [Member] | Secured Debt [Member] | ||||
Secured notes payable | $ 867,400 | 868,000 | ||
Secured Notes 1.43% Floating Rate Tax Exempt Mortgage Note Due 2028 | Secured Debt [Member] | ||||
Secured notes payable | $ 32,400 | 34,100 | ||
Notes payable, effective interest rate | 1.43% | |||
Debt Instrument, Maturity Date | Jun. 15, 2028 | |||
Secured Notes 1.12% Floating Rate [Member] | Secured Debt [Member] | ||||
Secured notes payable | $ 175,000 | 175,000 | ||
Minimum [Member] | Secured Notes 1.12% to 5.77% Conventional Mortgage Notes Due 2018 to 2045 [Member] [Member] | Secured Debt [Member] | ||||
Notes payable, effective interest rate | 1.12% | |||
Debt Instrument, Maturity Date | Oct. 1, 2018 | |||
Minimum [Member] | Secured Notes 1.12% Floating Rate [Member] | Secured Debt [Member] | ||||
Notes payable, effective interest rate | 1.12% | |||
Maximum [Member] | Secured Notes 1.12% to 5.77% Conventional Mortgage Notes Due 2018 to 2045 [Member] [Member] | Secured Debt [Member] | ||||
Notes payable, effective interest rate | 5.77% | |||
Debt Instrument, Maturity Date | Sep. 1, 2045 | |||
Short-term Debt [Member] | ||||
Debt Instrument, Maturity Date | May 14, 2016 | |||
Short-term Debt [Member] | Commercial Banks [Member] | ||||
Unsecured Debt | $ 19,000 | 0 | ||
Unsecured Credit Facility [Member] | Commercial Banks [Member] | ||||
Unsecured Debt | $ 225,000 | $ 0 |
Notes Payable (Narrative) (Deta
Notes Payable (Narrative) (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Aug. 31, 2015USD ($) | Jun. 30, 2015USD ($) | May. 31, 2015USD ($) | Dec. 31, 2015USD ($)yr | Dec. 31, 2014USD ($) | ||
Unamortized debt discounts and debt issuance costs | $ 18,600 | $ 21,800 | ||||
Unsecured Debt | 1,824,930 | 1,828,485 | ||||
Total notes payable | $ 2,724,700 | 2,730,600 | ||||
Weighted average interest rate on floating rate debt | 4.10% | |||||
Weighted average maturity of indebtedness (including unsecured credit facility and unsecured short-term borrowings) (in years) | yr | 5.7 | |||||
Short-term Debt [Member] | ||||||
Maximum borrowing capacity under unsecured credit facility | $ 40,000 | |||||
Debt Instrument, Maturity Date | May 14, 2016 | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.05% | |||||
Other Short-term Borrowings | $ 19,000 | |||||
Unsecured Credit Facility [Member] | ||||||
Outstanding balance under credit facility | 225,000 | |||||
Letter Of Credit [Member] | ||||||
Maximum Ability to Issue Letters of Credit Under Unsecured Credit Facility | 50,000 | |||||
Outstanding balance under credit facility | 9,400 | |||||
Senior Unsecured Notes [Member] | ||||||
Unsecured Debt | 1,580,900 | 1,828,500 | ||||
Commercial Banks [Member] | ||||||
Unsecured Debt | 244,000 | 0 | ||||
Commercial Banks [Member] | Short-term Debt [Member] | ||||||
Unsecured Debt | 19,000 | 0 | ||||
Commercial Banks [Member] | Unsecured Credit Facility [Member] | ||||||
Unsecured Debt | 225,000 | 0 | ||||
Five Point Zero Eight Percentage Notes Due2015 [Member] | Senior Unsecured Notes [Member] | ||||||
Unsecured Debt | 0 | 249,800 | ||||
Debt Instrument, Maturity Date | Jun. 15, 2015 | |||||
Notes payable, effective interest rate | 5.08% | |||||
Repayments of Unsecured Debt | $ 250,000 | |||||
Unsecured Credit Facility [Member] | ||||||
Value not exceeding the amount available under the unsecured credit facility | 300,000 | |||||
Amount of current borrowing capacity under unsecured credit facility | $ 500,000 | 600,000 | ||||
Maximum borrowing capacity under unsecured credit facility | $ 900,000 | |||||
Terms Of Bid Rate Loans | 180 | |||||
Available amount under unsecured credit facility | $ 365,600 | |||||
Unsecured Credit Facility, Expiration Date | Sep. 22, 2015 | Aug. 7, 2019 | ||||
Option to extend the period of unsecured credit facility | August 2,020 | |||||
Floating Rate Notes Payable [Member] | ||||||
Total notes payable | [1],[2] | $ 451,400 | $ 209,100 | |||
Weighted average interest rate on floating rate debt | 1.20% | 1.00% | ||||
[1] | All amounts presented have been changed to reflect our adoption of ASU 2015-03 (as supplemented by ASU 2015-15) at December 31, 2015, which required retrospective application. | |||||
[2] | Includes balances outstanding under our unsecured credit facility and unsecured short-term borrowings. |
Notes Payable (Scheduled Repaym
Notes Payable (Scheduled Repayments On Outstanding Debt) (Details) $ in Millions | Dec. 31, 2015USD ($) | |
2,016 | $ 19 | [1] |
2,017 | 247.2 | |
2,018 | 175.8 | |
2,019 | 870.2 | [2] |
2,020 | 1.1 | |
Thereafter | 1,411.4 | |
Total notes payable | $ 2,724.7 | |
Weighted Average Interest Rate | 4.10% | |
Maturities Due In 2016 [Member] | ||
Weighted Average Interest Rate | 1.50% | [1] |
Maturities Due In 2017 [Member] | ||
Weighted Average Interest Rate | 5.80% | |
Maturities Due In 2018 [Member] | ||
Weighted Average Interest Rate | 1.10% | |
Maturities Due In 2019 [Member] | ||
Weighted Average Interest Rate | 4.30% | [2] |
Maturities Due In 2020 [Member] | ||
Weighted Average Interest Rate | 0.00% | |
Maturities Due Thereafter [Member] | ||
Weighted Average Interest Rate | 4.10% | |
[1] | Includes $19.0 million of unsecured short-term borrowings. | |
[2] | Includes $225.0 million balance outstanding under our unsecured credit facility. |
Share-Based Compensation and 59
Share-Based Compensation and Benefit Plans (Narrative) (Details) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2011shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Dec. 31, 2013USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares | 53,358 | 375,316 | 183,871 | |
Granted, Options Outstanding | shares | 26,752 | 84,452 | 0 | |
Total compensation cost for option and share awards | $ 18,600,000 | $ 16,000,000 | $ 14,700,000 | |
Total capitalized compensation cost for option and share awards | $ 3,500,000 | $ 2,700,000 | 2,200,000 | |
Percentage Of Market Value Per Share At Which Shares Purchased Under Employee Share Purchase Plan | 85.00% | |||
Employee Share Purchase Plan, Maximum Authorized Amount Per Participant | $ 25,000 | |||
Share Awards Held In Employee Trust Shares | shares | 1,800,000 | 1,800,000 | ||
Share Awards Held In Non Qualified Deferred Compensation Plan Shares | $ 37,100,000 | $ 43,700,000 | ||
Cash Required By Plan Participants Upon Withdrawal | $ 23,600,000 | $ 24,700,000 | ||
Share Awards Held In Non Qualified Deferred Compensation Plan Shares | shares | 1,300,000 | 1,200,000 | ||
Trading Securities Held In Non Qualified Deferred Compensation Plan Value | $ 30,800,000 | $ 27,700,000 | ||
Defined Contribution Plan, Cost Recognized | $ 2,600,000 | $ 2,200,000 | 2,200,000 | |
Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares | 100,000 | 400,000 | ||
Total intrinsic value of options exercised during the period | $ 2,000,000 | $ 7,400,000 | 5,300,000 | |
Remaining weighted average contractual life (years) outstanding options | 3 years 1 month 6 days | |||
Remaining weighted average contractual life (years) exercisable options | 3 years 1 month 6 days | |||
Allocated Share-based Compensation Expense | $ 200,000 | 300,000 | ||
Share Awards and Vesting [Member] | ||||
Total unrecognized compensation cost related to unvested options which is expected to be amortized | 31,700,000 | |||
Fair value of shares vested | $ 19,200,000 | $ 17,100,000 | $ 15,900,000 | |
Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||
Minimum [Member] | Share Awards and Vesting [Member] | ||||
Vesting period, years | 3 years | |||
Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||
Maximum [Member] | Share Awards and Vesting [Member] | ||||
Vesting period, years | 5 years | |||
2011 Share Incentive Plan [Member] | ||||
Total fungible units to be issued | shares | 9,100,000 | 4,600,000 | ||
Units available under the 2011 Share Plan | shares | 5,800,000 | |||
Fungible units transferred from the 2002 Share Plan to the 2011 Share Plan | shares | 3,300,000 | |||
Fungible Units To Full Value Award Conversion Ratio | 3.45 | |||
Full Value award in the fungible unit conversion ratio | shares | 1 | |||
Expiration value of option right or other award | 0.83 | |||
Common shares which could be granted pursuant to full value awards | shares | 1,300,000 |
Share-Based Compensation and 60
Share-Based Compensation and Benefit Plans (Summary Of Share Options Outstanding And Exercisable) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Outstanding Options, Number | 295,205 | [1] | 321,811 | 634,361 | 838,754 |
Outstanding Options, Weighted Average Price | $ 42.49 | $ 38.97 | $ 41.59 | $ 42.36 | |
Aggregate intrinsic value of outstanding options | $ 10.1 | ||||
Aggregate Intrinsic Value of Exercisable Options | $ 10.1 | ||||
Exercise Price Thirty Point Zero Six Member [Domain] | |||||
Range of exercise prices, minimum | $ 30.06 | ||||
Range of exercise prices, maximum | $ 30.06 | ||||
Exercisable Options, Number | 105,015 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $ 30.06 | ||||
Range Of Exercise Prices Forty One Point One Six To Forty Three Point Nine Four [Domain] | |||||
Range of exercise prices, minimum | 41.16 | ||||
Range of exercise prices, maximum | $ 43.94 | ||||
Exercisable Options, Number | 119,242 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $ 42.46 | ||||
Range Of Exercise Prices Forty Eight Point Zero Two To Seventy five Point Seventeen Member [Domain] | |||||
Range of exercise prices, minimum | 48.02 | ||||
Range of exercise prices, maximum | $ 75.17 | ||||
Exercisable Options, Number | 70,948 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $ 60.92 | ||||
[1] | The aggregate intrinsic value of options outstanding and exercisable at December 31, 2015 was approximately $10.1 million. The aggregate intrinsic value was calculated as the excess, if any, between our closing share price of $76.76 per share on December 31, 2015 and the strike price of the underlying award. |
Share-Based Compensation and 61
Share-Based Compensation and Benefit Plans (Summary Of Share Incentive Plans) (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||
Outstanding Options, Number | 321,811 | 634,361 | 838,754 | |
Granted, Options Outstanding | 26,752 | 84,452 | 0 | |
Exercised/Vested, Options Outstanding | (53,358) | (375,316) | (183,871) | |
Forfeited, Options Outstanding | 0 | (21,686) | (20,522) | |
Outstanding Options, Number | 295,205 | [1] | 321,811 | 634,361 |
Weighted Average Exercise/Grant Price, balance | $ 38.97 | $ 41.59 | $ 42.36 | |
Granted, Weighted Average Exercise/Grant Price | 75.17 | 64.75 | 0 | |
Exercised/Vested, Weighted Average Exercise/Grant Price | 37.69 | 47.85 | 41.56 | |
Forfeited, Weighted Average Exercise/Grant Price | 0 | 62.32 | 73.32 | |
Weighted Average Exercise/Grant Price, balance | $ 42.49 | $ 38.97 | $ 41.59 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||
Nonvested share awards outstanding, Share Awards Outstanding | 818,943 | 831,298 | 862,253 | |
Granted, Share Awards Outstanding | 257,749 | 314,614 | 350,615 | |
Exercised/Vested, Share Awards Outstanding | (313,628) | (305,372) | (309,396) | |
Forfeited, Share Awards Outstanding | (12,818) | (21,597) | (72,174) | |
Nonvested share awards outstanding, Share Awards Outstanding | 750,246 | 818,943 | 831,298 | |
Nonvested share awards outstanding, Weighted Average Exercise/Grant Price | $ 63.39 | $ 59.77 | $ 52.64 | |
Granted, Weighted Average Exercise/Grant Price | 74.53 | 65.78 | 69.56 | |
Exercised/Vested, Weighted Average Exercise/Grant Price | 61.10 | 55.97 | 51.41 | |
Forfeited, Weighted Average Exercise/Grant Price | 67.96 | 64.14 | 58.08 | |
Nonvested share awards outstanding, Weighted Average Exercise/Grant Price | $ 68.09 | $ 63.39 | $ 59.77 | |
[1] | The aggregate intrinsic value of options outstanding and exercisable at December 31, 2015 was approximately $10.1 million. The aggregate intrinsic value was calculated as the excess, if any, between our closing share price of $76.76 per share on December 31, 2015 and the strike price of the underlying award. |
Share-Based Compensation and 62
Share-Based Compensation and Benefit Plans (Employee Share Purchase Plan Activity) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation [Abstract] | |||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 14,655 | 25,728 | 17,171 |
Weighted Average Fair Value Of Shares Purchased Under Employee Share Purchase Plan | $ 74.66 | $ 71.19 | $ 62.59 |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 0.2 | $ 0.5 | $ 0.2 |
Share-Based Compensation and 63
Share-Based Compensation and Benefit Plans (Deferred Compensation Plan Shares Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share Based Compensation Awards (Deferred Compensation Plan Awards) Table [Abstract] | |||
Non-qualified deferred compensation share awards | $ 68,134 | $ 47,180 | |
Change in classification of deferred compensation plan | 10,999 | 7,702 | $ 37,958 |
Change in redemption value of non-qualified share awards | 3,788 | 17,921 | 9,575 |
Diversification of share awards | (3,557) | (4,669) | |
Non-qualified deferred compensation share awards | $ 79,364 | $ 68,134 | $ 47,180 |
Share-Based Compensation and 64
Share-Based Compensation and Benefit Plans (Schedule of share-based payment award, stock options, valuation assumptions) (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 16.50% | 22.60% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 18.80% | 23.20% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 1.00% | 0.10% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 1.30% | 1.10% |
Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 5.52 | $ 3.55 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 3.50% | 3.50% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years | 6 months |
Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 7.38 | $ 8.17 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 3.70% | 3.50% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 4 years | 4 years |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Deferred compensation plan investments | $ 53.6 | [1] | $ 56.1 |
Participant Withdrawals From Deferred Compensation Plan Investments | 8.4 | 1.5 | |
Level 1 [Member] | |||
Deferred compensation plan investments | 53.6 | 56.1 | |
Level 2 [Member] | |||
Deferred compensation plan investments | 0 | 0 | |
Level 3 [Member] | |||
Deferred compensation plan investments | $ 0 | $ 0 | |
[1] | Approximately $8.4 million and $1.5 million of participant cash was withdrawn from our deferred compensation plan investments during the years ended December 31, 2015 and 2014, respectively. |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Of Notes Payable) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | |
Carrying Value | $ 2,724.7 | $ 2,730.6 | |
Fixed Rate Notes Payable [Member] | |||
Carrying Value | [1] | 2,273.3 | 2,521.5 |
Estimated Fair Value | 2,358.8 | 2,666.1 | |
Floating Rate Notes Payable [Member] | |||
Carrying Value | [1],[2] | 451.4 | 209.1 |
Estimated Fair Value | [2] | $ 441.3 | $ 203.7 |
[1] | All amounts presented have been changed to reflect our adoption of ASU 2015-03 (as supplemented by ASU 2015-15) at December 31, 2015, which required retrospective application. | ||
[2] | Includes balances outstanding under our unsecured credit facility and unsecured short-term borrowings. |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Non-recurring fair value measurements [Abstract] | ||
Fair Value Adjustments, Nonrecurring | $ 0 | $ 0 |
Net Change In Operating Accou68
Net Change In Operating Accounts (Effect Of Changes In The Operating Accounts On Cash Flows From Operating Activities) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Increase (Decrease) in Operating Capital [Abstract] | |||
Other assets, net | $ (1,648) | $ (2,145) | $ (2,639) |
Accounts payable and accrued expenses | (15,528) | 19,296 | (8,138) |
Accrued real estate taxes | 6,386 | 4,009 | 7,165 |
Other liabilities | 2,306 | (1,666) | 22,139 |
Other | 2,773 | 2,583 | 2,706 |
Change in operating accounts and other | $ (5,711) | $ 22,077 | $ 21,233 |
Commitments And Contingencies (
Commitments And Contingencies (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Number of consolidated projects under construction | 8 | ||
Anticipated expenditures relating to completion of construction type contracts | $ 310.1 | ||
Earnest Money Deposits | 1.5 | ||
Rental expense | 3.4 | $ 3 | $ 2.8 |
Minimum annual rental commitments, 2016 | 2.8 | ||
Minimum annual rental commitments, 2017 | 2.9 | ||
Minimum annual rental commitments, 2018 | 2.7 | ||
Minimum annual rental commitments, 2019 | 2.5 | ||
Minimum annual rental commitments, 2020 | 2.5 | ||
Minimum annual rental commitments, thereafter | 11.1 | ||
Non-Refundable [Member] | |||
Earnest Money Deposits | $ 0.8 | ||
Partnership Interest [Member] | Maximum [Member] | |||
Less than joint venture economic interest noted | 100.00% |
Non-controlling Interests (Deta
Non-controlling Interests (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||||
Non-controlling Interest [Line Items] | ||||||||||||||
Net income attributable to common shareholders | $ 60,593 | $ 37,044 | $ 36,079 | $ 115,599 | $ 178,498 | $ 38,283 | $ 35,272 | $ 40,036 | $ 249,315 | [1] | $ 292,089 | [1] | $ 336,364 | |
Increase in equity for conversion of operating partnership units | 86 | 52 | 52 | |||||||||||
Decrease in additional paid-in capital for purchase of remaining non-controlling ownership interests in two consolidated joint ventures | [2] | (9,480) | 0 | 0 | ||||||||||
Change in common equity and net transfers from non-controlling interests | $ 239,921 | $ 292,141 | $ 336,416 | |||||||||||
[1] | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. | |||||||||||||
[2] | Refer to Note 7, "Acquisitions, Dispositions, Impairment, and Discontinued Operations," for further discussion of acquisitions. |
Quarterly Financial Data (una71
Quarterly Financial Data (unaudited) (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Oct. 30, 2015USD ($) | Jan. 31, 2015USD ($) | Feb. 28, 2014USD ($) | Dec. 31, 2015USD ($)$ / shares | Sep. 30, 2015USD ($)$ / shares | Jun. 30, 2015USD ($)$ / shares | Mar. 31, 2015USD ($)$ / shares | Dec. 31, 2014USD ($)$ / shares | Sep. 30, 2014USD ($)$ / shares | Jun. 30, 2014USD ($)$ / shares | Mar. 31, 2014USD ($)$ / shares | Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2014USD ($)$ / shares | Dec. 31, 2013USD ($)$ / shares | |||||||||
Revenues | $ | $ 229,658 | $ 227,185 | $ 220,651 | $ 215,434 | $ 216,459 | $ 213,098 | $ 208,492 | $ 205,929 | $ 892,928 | [1] | $ 843,978 | [1] | $ 788,851 | |||||||||
Net income attributable to common shareholders | $ | $ 60,593 | $ 37,044 | $ 36,079 | $ 115,599 | $ 178,498 | $ 38,283 | $ 35,272 | $ 40,036 | $ 249,315 | [1] | $ 292,089 | [1] | $ 336,364 | |||||||||
Total earnings per common share - basic | $ 0.67 | [2] | $ 0.41 | $ 0.40 | $ 1.29 | [3] | $ 1.99 | [4] | $ 0.43 | [5] | $ 0.40 | [6] | $ 0.45 | [7] | $ 2.77 | [1] | $ 3.29 | [1] | $ 3.82 | |||
Total earnings per common share - diluted | $ 0.67 | [2] | $ 0.41 | $ 0.40 | $ 1.27 | [3] | $ 1.98 | [4] | $ 0.43 | [5] | $ 0.40 | [6] | $ 0.45 | [7] | $ 2.76 | [1] | $ 3.27 | [1] | $ 3.78 | |||
Gain (Loss) on Sale of Properties | $ | $ 18,870 | $ 85,192 | $ 155,680 | |||||||||||||||||||
Income loss due to disposition of operating properties per basic share | $ 0.21 | $ 0.96 | $ 1.76 | |||||||||||||||||||
Income loss due to disposition of operating properties per diluted share | $ 0.21 | $ 0.94 | $ 1.73 | |||||||||||||||||||
Incentive compensation expense as a result of joint venture restructuring | $ | $ 10,000 | |||||||||||||||||||||
Income loss from incentive compensation expense resulting from joint venture restructuring per basic share | $ 0.11 | |||||||||||||||||||||
Income loss from incentive compensation expense resulting from joint venture restructuring per diluted share | $ 0.11 | |||||||||||||||||||||
Impairment associated with land holdings | $ | $ 1,152 | $ 0 | $ 1,152 | $ 0 | ||||||||||||||||||
Income loss from impairment of land per basic share | $ 0.01 | |||||||||||||||||||||
Income loss from impairment of land per diluted share | $ 0.01 | |||||||||||||||||||||
Gain (loss) on sale of unconsolidated joint venture property | $ | $ 3,600 | $ 3,566 | ||||||||||||||||||||
Income Loss From Disposition Of Unconsolidated Joint Venture Property Per Basic Share | $ 0.04 | |||||||||||||||||||||
Number of operating properties sold | 12 | |||||||||||||||||||||
Income Loss From Disposition Of Unconsolidated Joint Venture Property Per Diluted Share | $ 0.04 | |||||||||||||||||||||
Gain (loss) on disposition of land | $ | $ 1,808 | $ 1,447 | $ 300 | 3,600 | ||||||||||||||||||
Income loss on disposition of land per basic share | $ 0.02 | $ 0.02 | ||||||||||||||||||||
Income loss on disposition of land per diluted share | $ 0.02 | $ 0.02 | ||||||||||||||||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||||||||||||||||||||
Gain (Loss) on Sale of Properties | $ | $ 18,900 | $ 85,100 | $ 155,700 | |||||||||||||||||||
Number of operating properties sold | 1 | 2 | 5 | 2 | 1 | 5 | ||||||||||||||||
Number of operating properties sold | 1 | 2 | ||||||||||||||||||||
[1] | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. | |||||||||||||||||||||
[2] | Includes a $18,870, or $0.21 basic and diluted per share, impact related to a gain on sale of one operating property. | |||||||||||||||||||||
[3] | Includes a $85,192, or $0.96 basic and $0.94 diluted per share, impact related to a gain on sale of two operating properties and land. | |||||||||||||||||||||
[4] | Includes a $155,680, or $1.76 basic and $1.73 diluted per share, impact related to the gain on sale of operating properties, and a $10,000, or $0.11 basic and diluted per share, impact related to incentive compensation expense as a result of joint venture restructuring. | |||||||||||||||||||||
[5] | Includes a $1,808, or $0.02 basic and diluted per share, impact related to a gain on sale of land. | |||||||||||||||||||||
[6] | Includes a $1,447, or $0.02 basic and diluted per share, impact related to a gain on sale of land, and a $1,152, or $0.01 basic and diluted per share, impact related to an impairment charge associated with land holdings | |||||||||||||||||||||
[7] | Includes a $3,566, or $0.04 basic and diluted per share, impact related to our proportionate gain on sale of two operating properties by our funds, which is included in equity in income of joint ventures. |
Schedule III - Real Estate an72
Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,043,345,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,999,706,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 781,605,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,043,345,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,781,311,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,824,656,000 | $ 7,421,516,000 | $ 7,072,181,000 | $ 6,673,914,000 |
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,978,690,000 | $ 1,738,862,000 | $ 1,643,713,000 | $ 1,518,896,000 |
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 5,845,966,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 902,584,000 | |||
Current Communities [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,043,345,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,436,835,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 781,605,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,043,345,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,218,440,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,261,785,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,976,958,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 5,284,827,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 902,584,000 | |||
Current Communities [Member] | Camden Copper Square [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,825,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,672,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,793,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,825,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,465,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 35,290,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,162,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 20,128,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,000 | |||
Current Communities [Member] | Camden Foothills [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 11,006,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,343,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 318,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,006,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,661,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,667,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,023,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 42,644,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,014 | |||
Current Communities [Member] | Camden Hayden [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 9,248,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,108,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,248,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,108,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,356,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,518,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 42,838,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,015 | |||
Current Communities [Member] | Camden Legacy [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,068,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,612,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 11,546,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,068,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 38,158,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,226,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,388,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 20,838,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Montierra [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 13,687,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,727,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,941,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,687,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,668,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 50,355,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,442,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 45,913,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Pecos Ranch [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,362,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,492,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,649,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,362,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,141,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,503,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,083,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 27,420,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden San Marcos [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 11,520,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,166,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,271,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,520,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,437,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 51,957,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,047,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 46,910,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden San Paloma [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 6,480,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,045,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,233,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,480,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,278,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 37,758,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,643,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,115,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,002 | |||
Current Communities [Member] | Camden Sotelo [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,376,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,576,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 595,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,376,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,171,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 34,547,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,748,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 31,799,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,013 | |||
Current Communities [Member] | Camden Crown Valley [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 9,381,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 54,210,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,124,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,381,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 63,334,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 72,715,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 27,224,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 45,491,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,001 | |||
Current Communities [Member] | Camden Glendale [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 21,492,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 91,709,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 21,492,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 91,709,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 113,201,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,538,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 110,663,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,015 | |||
Current Communities [Member] | Camden Harbor View [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 16,079,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 127,459,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,796,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,079,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 137,255,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 153,334,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 50,254,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 103,080,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 92,716,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,003 | |||
Current Communities [Member] | Camden Main Jamboree [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 17,363,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 75,387,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,091,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,363,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 76,478,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 93,841,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,886,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 79,955,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 48,902,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,008 | |||
Current Communities [Member] | Camden Martinique [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 28,401,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,861,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 17,589,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 28,401,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 69,450,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 97,851,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 36,987,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 60,864,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 32,969,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Parkside [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 29,730,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,368,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,529,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 29,730,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,897,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 67,627,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,461,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 62,166,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Sea Palms [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,336,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,930,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,474,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,336,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,404,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 17,740,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,559,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,181,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Landmark [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 17,339,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 71,315,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,505,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,339,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 72,820,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 90,159,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,847,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 81,312,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Old Creek [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 20,360,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 71,777,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,271,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 20,360,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 73,048,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 93,408,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,058,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 72,350,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,007 | |||
Current Communities [Member] | Camden Sierra At Otay Ranch [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 10,585,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 49,781,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,752,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,585,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 54,533,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 65,118,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,353,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 43,765,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,003 | |||
Current Communities [Member] | Camden Tuscany [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,330,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,466,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,294,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,330,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,760,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,090,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,318,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 28,772,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,003 | |||
Current Communities [Member] | Camden Vineyards [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,367,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,494,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,745,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,367,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,239,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 35,606,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,057,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 22,549,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,002 | |||
Current Communities [Member] | Camden Belleview Station [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 8,091,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,003,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,129,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,091,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 45,132,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 53,223,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,077,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 48,146,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Caley [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,047,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,445,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,339,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,047,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,784,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 24,831,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,600,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 14,231,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 15,351,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,000 | |||
Current Communities [Member] | Camden Denver West [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 6,396,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,552,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,124,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,396,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 56,676,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 63,072,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,512,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 57,560,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Flatirons [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 6,849,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 72,395,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,849,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 72,395,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 79,244,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,893,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 75,351,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,015 | |||
Current Communities [Member] | Camden Highlands Ridge [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,612,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,726,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,712,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,612,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 45,438,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 48,050,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,547,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 26,503,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,996 | |||
Current Communities [Member] | Camden Interlocken [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,293,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,612,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,900,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,293,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,512,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 45,805,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,069,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 25,736,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 27,431,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,999 | |||
Current Communities [Member] | Camden Lakeway [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,915,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,129,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 12,513,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,915,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 46,642,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 50,557,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 23,650,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 26,907,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 29,267,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Ashburn Farms [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,835,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,604,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,748,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,835,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,352,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,187,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,175,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,012,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Clearbrook [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,384,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,017,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,201,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,384,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 45,218,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 47,602,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,207,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 34,395,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,007 | |||
Current Communities [Member] | Camden College Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 16,409,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 91,503,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,689,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,409,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 95,192,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 111,601,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,780,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 95,821,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,008 | |||
Current Communities [Member] | Camden Dulles Station [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 10,807,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,548,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,623,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,807,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 64,171,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 74,978,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,228,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 58,750,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,008 | |||
Current Communities [Member] | Camden Fair Lakes [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 15,515,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 104,223,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,286,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,515,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 112,509,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 128,024,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 36,522,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 91,502,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Fairfax Corner [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 8,484,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 72,953,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,630,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,484,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 78,583,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 87,067,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 23,919,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 63,148,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,006 | |||
Current Communities [Member] | Camden Fallsgrove [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 9,408,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 43,647,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,524,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,408,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 48,171,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 57,579,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,031,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 41,548,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Grand Parc [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,688,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,900,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,200,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,688,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 38,100,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 45,788,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,152,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 33,636,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Landsdowne [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 15,502,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 102,267,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,738,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,502,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 109,005,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 124,507,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 36,113,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 88,394,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Largo Town Center [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 8,411,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,163,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,064,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,411,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 47,227,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 55,638,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,279,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 40,359,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Monument Place [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 9,030,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 54,089,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,080,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,030,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 55,169,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 64,199,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,600,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 48,599,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,007 | |||
Current Communities [Member] | Camden NoMa [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 19,442,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 82,126,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 211,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 19,442,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 82,337,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 101,779,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,972,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 94,807,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,014 | |||
Current Communities [Member] | Camden Potomac Yard [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 16,498,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 88,317,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 881,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,498,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 89,198,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 105,696,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 23,649,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 82,047,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,008 | |||
Current Communities [Member] | Camden Roosevelt [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 11,470,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 45,785,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,077,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,470,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 46,862,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 58,332,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,548,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 42,784,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Russett [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 13,460,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,837,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,469,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,460,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 66,306,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 79,766,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,097,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 57,669,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 45,063,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Silo Creek [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 9,707,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 45,301,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,919,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,707,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 47,220,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 56,927,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,517,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 41,410,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Summerfield [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 14,659,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 48,404,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,310,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,659,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 49,714,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 64,373,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,619,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 50,754,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,008 | |||
Current Communities [Member] | Camden Summerfield II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,459,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,566,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,459,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,571,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 25,030,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,545,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,485,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Aventura [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 12,185,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 47,616,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,795,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,185,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 58,411,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 70,596,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,219,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 50,377,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Boca Raton [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,201,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 49,499,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 419,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,201,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 49,918,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 52,119,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,738,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 49,381,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,014 | |||
Current Communities [Member] | Camden Brickell [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 14,621,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 57,031,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,979,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,621,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 68,010,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 82,631,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 23,189,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 59,442,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Doral [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 10,260,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,416,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,052,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,260,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 46,468,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 56,728,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,833,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 41,895,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Doral Villas [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 6,476,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,543,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,115,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,476,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,658,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 38,134,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,573,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 27,561,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Las Olas [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 12,395,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 79,518,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,417,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,395,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 87,935,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 100,330,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 29,251,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 71,079,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Plantation [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 6,299,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 77,964,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,211,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,299,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 85,175,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 91,474,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 28,721,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 62,753,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Portofino [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 9,867,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,702,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,509,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,867,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 43,211,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 53,078,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,712,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 38,366,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Hunters Creek [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,156,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,925,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,863,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,156,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,788,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,944,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,566,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,378,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Lago Vista [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,497,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,623,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,161,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,497,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,784,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 35,281,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,388,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 23,893,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden LaVina [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 12,907,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 42,569,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 143,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,907,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 42,712,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 55,619,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,971,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 47,648,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Lee Vista [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,350,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,643,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,423,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,350,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,066,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,416,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,608,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,808,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,000 | |||
Current Communities [Member] | Camden Orange Court [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,319,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,733,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,696,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,319,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 42,429,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 47,748,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,184,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 36,564,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,008 | |||
Current Communities [Member] | Camden Renaissance [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,144,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 39,987,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,521,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,144,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 46,508,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 50,652,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 24,525,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 26,127,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Town Square [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 13,127,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 45,997,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 93,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,127,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 46,090,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 59,217,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,858,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 52,359,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden World Gateway [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,785,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,821,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,065,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,785,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 58,886,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 64,671,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,493,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 46,178,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Bay [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,450,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 63,283,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,863,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,450,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 74,146,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 81,596,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 34,129,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 47,467,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1998/2002 | |||
Current Communities [Member] | Camden Lakes [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,106,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,746,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 14,866,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,106,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,612,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 40,718,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 30,424,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,294,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Montague [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,576,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,534,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 159,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,576,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 16,693,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 20,269,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,035,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,234,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Preserve [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,206,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,982,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,003,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,206,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,985,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 26,191,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,197,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 12,994,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Royal Palms [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,147,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,339,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,389,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,147,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,728,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,875,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,358,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 31,517,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,007 | |||
Current Communities [Member] | Camden Westchase Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 11,955,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,254,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 120,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,955,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,374,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 48,329,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,751,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 42,578,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Westshore [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,734,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,819,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,550,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,734,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,369,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 20,103,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,877,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 6,226,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Woods [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,693,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,930,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 11,439,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,693,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,369,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 34,062,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,450,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 11,612,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,999 | |||
Current Communities [Member] | Camden Brookwood [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,174,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,984,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,091,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,174,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 39,075,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 46,249,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,622,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 32,627,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 22,624,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Creekstone [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,017,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,912,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,009,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,017,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,921,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 25,938,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,662,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 23,276,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Deerfield [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,895,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,922,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,807,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,895,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,729,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,624,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,698,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 23,926,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 19,220,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Dunwoody [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,290,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,642,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,817,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,290,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,459,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 36,749,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,836,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 25,913,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 21,168,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Fourth Ward [Member] [Domain] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 10,477,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,258,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 308,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,477,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 51,566,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 62,043,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,576,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 59,467,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,014 | |||
Current Communities [Member] | Camden Midtown Atlanta [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 6,196,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,828,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,227,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,196,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 41,055,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 47,251,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,754,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 33,497,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 20,565,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Paces [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 15,262,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 102,270,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,262,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 102,270,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 117,532,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,191,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 113,341,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,015 | |||
Current Communities [Member] | Camden Peachtree City [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 6,536,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,063,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,488,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,536,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 34,551,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 41,087,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,670,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,417,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Shiloh [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,181,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,798,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,995,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,181,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,793,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 27,974,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,231,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 19,743,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 10,576,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden St Clair [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,526,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,486,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,013,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,526,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 34,499,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,025,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,290,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 29,735,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 21,646,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Stockbridge [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,071,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,693,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,334,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,071,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,027,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,098,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,260,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 21,838,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 14,332,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Vantage [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 11,787,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 68,822,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,451,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,787,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 70,273,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 82,060,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,358,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 75,702,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,013 | |||
Current Communities [Member] | Camden Bel Air [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,594,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,221,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,995,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,594,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 39,216,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,810,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 24,208,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,602,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Breeze [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,894,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,828,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,834,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,894,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,662,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 24,556,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,160,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 11,396,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Canyon [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,802,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,666,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,573,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,802,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,239,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 19,041,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,819,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 8,222,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Centre [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 172,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,166,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 412,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 172,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,578,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 1,750,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,028,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 722,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Commons [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,476,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,073,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,426,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,476,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,499,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,975,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,319,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,656,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Cove [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,382,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,266,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,118,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,382,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,384,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,766,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,564,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 4,202,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Del Mar [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,404,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,264,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 15,359,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,404,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 50,623,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 55,027,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 31,879,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 23,148,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Fairways [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,969,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,543,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,440,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,969,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,983,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,952,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,223,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 11,729,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Hills [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 853,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,834,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,908,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 853,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,742,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 10,595,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,388,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 4,207,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Legends [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,370,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,382,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,525,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,370,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,907,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,277,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,653,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 4,624,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Palisades [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 8,406,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,497,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,803,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,406,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 41,300,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 49,706,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 24,581,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 25,125,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Pines [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,496,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,852,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,037,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,496,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,889,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 28,385,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,681,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,704,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Pointe [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,058,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,879,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,643,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,058,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,522,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 20,580,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,493,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,087,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Summit [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 11,212,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,399,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,745,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,212,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,144,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,356,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,107,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,249,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Tiara [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,709,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,644,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,685,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,709,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,329,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 40,038,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,697,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 35,341,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Vintage [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,641,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,255,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,147,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,641,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,402,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,043,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,196,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 12,847,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Ballantyne [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,503,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,250,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,542,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,503,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,792,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,295,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,620,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 28,675,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 26,025,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Cotton Mills [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,246,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,147,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,744,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,246,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,891,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,137,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,134,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 20,003,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Dilworth [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 516,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,633,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,066,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 516,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,699,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 19,215,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,883,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 13,332,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 13,073,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,006 | |||
Current Communities [Member] | Camden Fairview [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,283,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,223,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,728,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,283,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,951,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 12,234,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,477,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 7,757,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Foxcroft [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,408,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,919,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,839,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,408,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,758,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,166,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,904,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 8,262,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Grandview [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,570,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,859,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,168,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,570,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 41,027,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 48,597,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,599,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 33,998,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Sedgebrook [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,266,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,211,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,632,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,266,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,843,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 41,109,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,879,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 28,230,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 21,306,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Simsbury [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,152,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,499,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,295,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,152,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,794,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,946,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,272,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 6,674,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden South End Square [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 6,625,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,175,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,202,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,625,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,377,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 43,002,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,345,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 30,657,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Stonecrest [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,941,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,021,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,613,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,941,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,634,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,575,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,188,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,387,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Touchstone [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,203,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,772,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,800,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,203,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,572,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 10,775,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,114,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 6,661,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Crest [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,412,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,108,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,088,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,412,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,196,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 40,608,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,999,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 28,609,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Governors Village [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,669,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,508,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,020,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,669,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,528,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 27,197,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,483,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 18,714,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 13,004,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Lake Pine [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,746,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,714,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,809,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,746,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 38,523,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,269,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,159,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 30,110,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 26,212,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Manor Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,535,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 47,159,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,993,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,535,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 49,152,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 51,687,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,035,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 35,652,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 29,675,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,006 | |||
Current Communities [Member] | Camden Overlook [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,591,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,563,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,080,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,591,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,643,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 38,234,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,040,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 26,194,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Reunion Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,302,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,457,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,976,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,302,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,433,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 26,735,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,627,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 18,108,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 19,961,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Westwood [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,567,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,519,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,371,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,567,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,890,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 34,457,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,615,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 23,842,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 19,907,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Cedar Hills [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,684,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,931,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 517,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,684,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,448,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 24,132,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,251,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,881,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,008 | |||
Current Communities [Member] | Camden Gaines Ranch [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,094,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 37,100,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,337,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,094,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 46,437,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 51,531,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,616,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 35,915,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Huntingdon [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,289,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,393,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,542,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,289,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,935,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,224,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,947,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,277,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,995 | |||
Current Communities [Member] | Camden La Frontera [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,250,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 32,379,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,250,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,379,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 35,629,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,989,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 33,640,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,015 | |||
Current Communities [Member] | Camden Lamar Heights [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,988,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 42,775,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,988,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 42,775,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 46,763,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,523,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 44,240,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,015 | |||
Current Communities [Member] | Camden Stoneleigh [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,498,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,285,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,244,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,498,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 38,529,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,027,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,373,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,654,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,006 | |||
Current Communities [Member] | Camden Breakers [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,055,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,024,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,818,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,055,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,842,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,897,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,162,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,735,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,996 | |||
Current Communities [Member] | Camden Copper Ridge [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,204,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,180,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,004,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,204,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,184,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 18,388,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,765,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 5,623,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,993 | |||
Current Communities [Member] | Camden Miramar [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,784,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 20,139,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 58,923,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 58,923,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,527,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 36,396,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1994-2014 | |||
Current Communities [Member] | Camden Addison [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 11,516,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,332,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,953,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,516,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,285,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 47,801,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,210,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 41,591,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Belmont [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 12,521,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,522,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,302,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,521,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 62,824,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 75,345,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,053,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 67,292,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Buckingham [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,704,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,251,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,882,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,704,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,133,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,837,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,700,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,137,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Centreport [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,613,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,644,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,046,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,613,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,690,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 20,303,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,505,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,798,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Cimarron [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,231,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,092,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,903,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,231,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,995,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 23,226,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,544,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,682,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Farmers Market [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 17,341,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 74,193,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 15,916,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,341,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 90,109,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 107,450,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 37,714,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 69,736,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 50,711,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2001/2005 | |||
Current Communities [Member] | Camden Henderson [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,842,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,256,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 205,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,842,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,461,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 19,303,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,253,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,050,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Legacy Creek [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,052,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,896,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,955,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,052,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,851,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 20,903,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,469,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,434,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Legacy Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,560,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,449,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,888,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,560,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,337,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 24,897,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,251,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 12,646,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 13,866,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Valley Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,096,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,667,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 13,652,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,096,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,319,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,415,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 25,562,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 5,853,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,994 | |||
Current Communities [Member] | Camden City Centre [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,976,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,735,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,212,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,976,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 45,947,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 50,923,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,320,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 37,603,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 33,795,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,007 | |||
Current Communities [Member] | Camden City Centre II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,101,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,131,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 46,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,101,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,177,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,278,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,956,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,322,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,013 | |||
Current Communities [Member] | Camden Greenway [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 16,916,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 43,933,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 16,829,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,916,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 60,762,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 77,678,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 30,368,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 47,310,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 52,359,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,999 | |||
Current Communities [Member] | Camden Holly Springs [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 11,108,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 42,852,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,996,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,108,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 52,848,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 63,956,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,223,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 55,733,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Midtown [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,583,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,026,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,711,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,583,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,737,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,320,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,008,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 17,312,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 28,058,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,999 | |||
Current Communities [Member] | Camden Oak Crest [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 2,078,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,941,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,193,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,078,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,134,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 27,212,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,457,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 16,755,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 17,309,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,003 | |||
Current Communities [Member] | Camden Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,922,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,453,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,705,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,922,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,158,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 25,080,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,133,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,947,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Plaza [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,204,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,044,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,314,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,204,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,358,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,562,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,836,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 33,726,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 20,714,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,007 | |||
Current Communities [Member] | Camden Post Oak [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 14,056,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 92,515,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,098,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,056,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 101,613,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 115,669,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,146,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 106,523,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,013 | |||
Current Communities [Member] | Camden Royal Oaks [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,055,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,046,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,055,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,055,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,101,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,156,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,109,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 15,047,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,006 | |||
Current Communities [Member] | Camden Royal Oaks II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 587,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,743,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 15,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 587,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,758,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,345,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,201,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 11,144,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Stonebridge [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,016,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,137,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,133,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,016,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,270,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 12,286,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,338,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 4,948,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,993 | |||
Current Communities [Member] | Camden Sugar Grove [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,614,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,594,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,155,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,614,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,749,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 37,363,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,392,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 32,971,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Travis Street [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,780,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,104,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 485,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,780,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,589,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,369,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,457,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 23,912,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 21,614,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,010 | |||
Current Communities [Member] | Camden Vanderbilt [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 16,076,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,918,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 19,590,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,076,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 64,508,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 80,584,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 38,370,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 42,214,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 73,165,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1994/1997 | |||
Current Communities [Member] | Camden Whispering Oaks [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,188,000 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,242,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 870,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,188,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,112,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 28,300,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,766,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 20,534,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,008 | |||
Construction Communities [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 424,877,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 424,877,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 424,877,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,732,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 423,145,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Construction Communities [Member] | Camden Chandler [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 66,391,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 66,391,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 66,391,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,634,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 64,757,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden Gallery [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 50,392,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 50,392,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 50,392,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 55,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 50,337,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden Lincoln Station [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,226,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,226,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 18,226,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,226,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden McGowen Station [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,064,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,064,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,064,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,064,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden NoMa II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 45,524,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 45,524,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 45,524,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 45,524,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden Shady Grove [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,376,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 51,376,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 51,376,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 51,376,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden Victory Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 67,201,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 67,201,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 67,201,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 42,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 67,159,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | The Camden [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 111,703,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 111,703,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 111,703,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 111,702,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 126,498,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 126,498,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 126,498,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 126,498,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Development Pipeline Communities [Member] | Camden Arts District [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,002,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,002,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,002,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 13,002,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden Atlantic [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,428,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,428,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,428,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 13,428,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden Buckhead [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,341,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,341,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,341,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 22,341,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden Conte [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,039,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,039,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,039,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,039,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden North End [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,319,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 38,319,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 38,319,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 38,319,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden Washingtonian [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,369,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,369,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 18,369,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,369,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Land Holdings [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,212,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,212,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,212,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 6,212,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Corporate [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,284,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,284,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,284,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 5,284,000 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Total Land Holdings and Corporate [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,496,000 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,496,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,496,000 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 11,496,000 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 0 |
Schedule III - Real Estate an73
Schedule III - Real Estate and Accumulated Depreciation (Changes in Total Real Estate Assets and Accumulated Depreciation) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule III - Real Estate and Accumulated Depreciation [Abstract] | |||
Balance, beginning of period | $ 7,421,516 | $ 7,072,181 | $ 6,673,914 |
Acquisition of operating properties and unconsolidated joint ventures | 0 | 61,736 | 221,421 |
Development and repositions | 351,998 | 469,048 | 306,950 |
Improvements | 75,847 | 58,233 | 67,049 |
Cost of real estate sold – other | (24,705) | (172,475) | (197,153) |
Classification to held for sale | 0 | (67,207) | 0 |
Balance, end of period | 7,824,656 | 7,421,516 | 7,072,181 |
Balance, Beginning of period | 1,738,862 | 1,643,713 | 1,518,896 |
Depreciation of real estate assets | 250,093 | 229,256 | 203,897 |
Dispositions | (10,265) | (94,043) | (79,080) |
Transfers to held for sale | 0 | (40,064) | 0 |
Balance, End of period | 1,978,690 | $ 1,738,862 | $ 1,643,713 |
Real Estate, Federal Income Tax Basis | $ 6,800,000 |
Schedule IV - Mortgage Loans 74
Schedule IV - Mortgage Loans on Real Estate (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Schedule IV - Mortgage Loans on Real Estate [Line Items] | ||||
Basis Spread on Variable Rate Loan | 1.00% | |||
Federal Income Tax Basis | $ 13,161 | |||
Face Amount of Mortgage Loans | 21,395 | |||
Carrying amount of mortgages | $ 13,161 | $ 3,395 | $ 3,395 | $ 3,395 |
Interest Rate on Mortgage Loans | 4.10% | 4.30% | ||
Undeveloped Land, First Lien Note [Member] | ||||
Schedule IV - Mortgage Loans on Real Estate [Line Items] | ||||
Final Maturity Date | Jul. 1, 2019 | |||
Face Amount of Mortgage Loans | $ 3,395 | |||
Carrying amount of mortgages | 3,395 | |||
Parking Garage, Developer Advances [Member] | ||||
Schedule IV - Mortgage Loans on Real Estate [Line Items] | ||||
Face Amount of Mortgage Loans | 18,000 | |||
Carrying amount of mortgages | $ 9,766 | |||
Minimum [Member] | Parking Garage, Developer Advances [Member] | ||||
Schedule IV - Mortgage Loans on Real Estate [Line Items] | ||||
Interest Rate on Mortgage Loans | 4.00% | |||
Maximum [Member] | Parking Garage, Developer Advances [Member] | ||||
Schedule IV - Mortgage Loans on Real Estate [Line Items] | ||||
Interest Rate on Mortgage Loans | 7.00% |
Schedule IV - Mortgage Loans 75
Schedule IV - Mortgage Loans on Real Estate (Changes in Mortgage Loans) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Mortgage Loans on Real Estate [Abstract] | |||
Balance, beginning of period | $ 3,395 | $ 3,395 | $ 3,395 |
Advances under real estate loans | 9,766 | 0 | 0 |
Deductions | 0 | 0 | 0 |
Balance, end of period | $ 13,161 | $ 3,395 | $ 3,395 |