Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 07, 2019 | Jun. 30, 2018 | |
Entity Information [Line Items] | |||
Entity Public Float | $ 8,386,569,325 | ||
Share Price | $ 91.13 | ||
Entity Registrant Name | CAMDEN PROPERTY TRUST | ||
Entity Central Index Key | 906,345 | ||
Trading Symbol | CPT | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Amendment Flag | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 93,259,373 | ||
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, 2018 | Dec. 31, 2017 |
Assets | ||
Land | $ 1,098,526 | $ 1,021,031 |
Buildings and improvements | 6,935,971 | 6,269,481 |
Real estate assets, at cost, total | 8,034,497 | 7,290,512 |
Accumulated depreciation | (2,403,149) | (2,118,839) |
Net operating real estate assets | 5,631,348 | 5,171,673 |
Properties under development, including land | 293,978 | 377,231 |
Investments in joint ventures | 22,283 | 27,237 |
Total real estate assets | 5,947,609 | 5,576,141 |
Accounts receivable – affiliates | 22,920 | 24,038 |
Other assets, net | 205,454 | 195,764 |
Cash and cash equivalents | 34,378 | 368,492 |
Restricted cash | 9,225 | 9,313 |
Total assets | 6,219,586 | 6,173,748 |
Liabilities | ||
Unsecured notes payable | 1,836,427 | 1,338,628 |
Secured notes payable | 485,176 | 865,970 |
Accounts payable and accrued expenses | 146,866 | 128,313 |
Accrued real estate taxes | 54,358 | 51,383 |
Distributions payable | 74,982 | 72,943 |
Other liabilities | 183,999 | 154,567 |
Total liabilities | 2,781,808 | 2,611,804 |
Commitments and contingencies (Note 15) | ||
Non-qualified deferred compensation share awards | 52,674 | 77,230 |
Equity | ||
Common shares of beneficial interest; $0.01 par value per share; 175,000 shares authorized; 105,503 and 105,489 issued; 103,080 and 102,769 outstanding at December 31, 2018 and 2017, respectively | 1,031 | 1,028 |
Additional paid-in capital | 4,154,763 | 4,137,161 |
Distributions in excess of net income attributable to common shareholders | (495,496) | (368,703) |
Treasury shares, at cost (9,841 and 10,073 common shares, at December 31, 2018 and 2017, respectively) | (355,804) | (364,066) |
Accumulated other comprehensive income (loss) | 6,929 | (57) |
Total common equity | 3,311,423 | 3,405,363 |
Non-controlling interests | 73,681 | 79,351 |
Total equity | 3,385,104 | 3,484,714 |
Total liabilities and equity | $ 6,219,586 | $ 6,173,748 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
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 | 105,503 | 105,489 |
Common shares, outstanding | 103,080 | 102,769 |
Treasury shares, at cost | 9,841 | 10,073 |
Consolidated Statements Of Inco
Consolidated Statements Of Income And Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Property revenues | ||||||
Rental revenues | $ 842,047 | $ 770,540 | $ 750,597 | |||
Other property revenues | 954,505 | 900,896 | 876,447 | |||
Property expenses | ||||||
Property operating and maintenance | 220,732 | 217,817 | 206,780 | |||
Real estate taxes | 122,847 | 110,925 | 104,575 | |||
Non-property income | ||||||
Interest and other income | 2,101 | 3,011 | 2,202 | |||
Income (loss) on deferred compensation plans | (6,535) | 16,608 | 5,511 | |||
Total non-property income | 2,797 | 27,795 | 14,577 | |||
Other expenses | ||||||
General and administrative | 50,735 | 50,587 | 47,415 | |||
Interest | 84,263 | 86,750 | 93,145 | |||
Depreciation and amortization | 300,946 | 263,974 | 250,146 | |||
Expense (benefit) on deferred compensation plans | (6,535) | 16,608 | 5,511 | |||
Total other expenses | 459,441 | 447,595 | 425,190 | |||
Loss on early retirement of debt | 0 | (323) | 0 | |||
Gain on sale of operating properties, including land | 0 | 43,231 | 295,397 | |||
Equity in income of joint ventures | 7,836 | 6,822 | 7,125 | [1],[2] | ||
Income from continuing operations before income taxes | 162,118 | 202,084 | 457,001 | |||
Income tax expense | (1,424) | (1,224) | (1,617) | |||
Income from continuing operations | 160,694 | 200,860 | 455,384 | |||
Income from discontinued operations | 0 | 0 | 7,605 | |||
Gain on sale of discontinued operations, net of tax | 0 | 0 | 375,237 | |||
Net income | 160,694 | 200,860 | 838,226 | |||
Less income allocated to non-controlling interests from continuing operations | (4,566) | (4,438) | (18,403) | |||
Net income attributable to common shareholders | $ 156,128 | $ 196,422 | $ 819,823 | |||
Earnings per common share from continuing operations | $ 1.63 | $ 2.14 | $ 4.81 | |||
Earnings per common share from discontinued operations | 0 | 0 | 4.27 | |||
Total earnings per common share – basic | 1.63 | [3] | 2.14 | [3] | 9.08 | |
Earnings per common share from continuing operations | 1.63 | 2.13 | 4.79 | |||
Earnings per common share from discontinued operations | 0 | 0 | 4.26 | |||
Total earnings per common share – diluted | $ 1.63 | [3] | $ 2.13 | [3] | $ 9.05 | |
Weighted average number of common shares outstanding – basic | 95,208 | 91,499 | 89,580 | |||
Weighted average number of common shares outstanding – diluted | 95,366 | 92,515 | 89,903 | |||
Net income attributable to common shareholders | ||||||
Income from continuing operations | $ 160,694 | $ 200,860 | $ 455,384 | |||
Less income allocated to non-controlling interests from continuing operations | (4,566) | (4,438) | (18,403) | |||
Income from continuing operations attributable to common shareholders | 156,128 | 196,422 | 436,981 | |||
Income from discontinued operations, including gain on sale | 0 | 0 | 382,842 | |||
Net income attributable to common shareholders | 156,128 | 196,422 | 819,823 | |||
Consolidated Statements of Comprehensive Income: | ||||||
Net income | 160,694 | 200,860 | 838,226 | |||
Other comprehensive income | ||||||
Unrealized gain on cash flow hedging activities | 6,782 | 1,690 | 0 | |||
Unrealized gain (loss) and unamortized prior service cost on post retirement obligation | 450 | (20) | (80) | |||
Reclassification of net (gain) loss on cash flow hedging activities, prior service cost and net loss on post retirement obligation | (246) | 136 | 130 | |||
Comprehensive income | 167,680 | 202,666 | 838,276 | |||
Less income allocated to non-controlling interests from continuing operations | (4,566) | (4,438) | (18,403) | |||
Comprehensive income attributable to common shareholders | 163,114 | 198,228 | 819,873 | |||
Other property revenues | ||||||
Property revenues | ||||||
Other property revenues | 112,458 | 130,356 | 125,850 | |||
Total property expenses | ||||||
Other expenses | ||||||
Property management | 343,579 | 328,742 | 311,355 | |||
Fee and asset management revenues | ||||||
Property revenues | ||||||
Other property revenues | 7,231 | 8,176 | 6,864 | |||
Property management | ||||||
Other expenses | ||||||
Property management | 25,581 | 25,773 | 25,125 | |||
Fee and asset management expense | ||||||
Other expenses | ||||||
Property management | $ 4,451 | $ 3,903 | $ 3,848 | |||
[1] | Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds | |||||
[2] | Equity in income for the years ended December 31, 2017 includes our ownership interest of the hurricane related recoveries and expenses of approximately $0.4 million, respectively. | |||||
[3] | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. |
Consolidated Statements Of Equi
Consolidated Statements Of Equity - USD ($) $ 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, 2015 | $ 2,892,896 | $ 976 | $ 3,662,864 | $ (458,577) | $ (386,793) | $ (1,913) | $ 76,339 |
Net Income | 838,226 | 819,823 | 18,403 | ||||
Other comprehensive income | 50 | 50 | |||||
Proceeds from issuance of common shares | 0 | ||||||
Net share awards | 24,996 | 15,213 | 9,783 | ||||
Employee share purchase plan | 1,697 | 944 | 753 | ||||
Common share options exercised | 3,921 | 1,003 | 2,918 | ||||
Change in classification of deferred compensation plan | (13,956) | (13,956) | |||||
Change in redemption value of non-qualified share awards | (9,145) | (9,145) | |||||
Diversification of share awards within deferred compensation plan | 25,428 | 11,931 | 13,497 | ||||
Conversions and redemptions of operating partnership units | (80) | 290 | (370) | ||||
Cash distributions declared to equity holders | (668,470) | (654,778) | (13,692) | ||||
Other | (10) | 2 | (12) | ||||
Equity, Ending Balance at Dec. 31, 2016 | 3,095,553 | 978 | 3,678,277 | (289,180) | (373,339) | (1,863) | 80,680 |
Net Income | 200,860 | 196,422 | 4,438 | ||||
Other comprehensive income | 1,806 | 1,806 | |||||
Proceeds from issuance of common shares | 445,038 | ||||||
Common shares issued | 48 | 444,990 | |||||
Net share awards | 23,956 | 15,779 | 8,177 | ||||
Employee share purchase plan | 1,716 | 1,030 | 686 | ||||
Common share options exercised | 931 | 521 | 410 | ||||
Change in classification of deferred compensation plan | (13,388) | (13,388) | |||||
Change in redemption value of non-qualified share awards | (10,038) | (10,038) | |||||
Diversification of share awards within deferred compensation plan | 23,233 | 10,159 | 13,074 | ||||
Conversions and redemptions of operating partnership units | 0 | 117 | (117) | ||||
Cash distributions declared to equity holders | (284,631) | (278,981) | (5,650) | ||||
Other | (322) | 2 | (324) | ||||
Equity, Ending Balance at Dec. 31, 2017 | 3,484,714 | 1,028 | 4,137,161 | (368,703) | (364,066) | (57) | 79,351 |
Net Income | 160,694 | 156,128 | 4,566 | ||||
Other comprehensive income | 6,986 | 6,986 | |||||
Proceeds from issuance of common shares | 0 | ||||||
Net share awards | 21,681 | 13,720 | 7,961 | ||||
Employee share purchase plan | 1,380 | 826 | 554 | ||||
Common share options exercised | 41 | 41 | 0 | ||||
Change in classification of deferred compensation plan | (16,407) | (16,407) | |||||
Change in redemption value of non-qualified share awards | 669 | 669 | |||||
Diversification of share awards within deferred compensation plan | 40,294 | 29,379 | 10,915 | ||||
Treasury Stock, Value, Acquired, Par Value Method | (253) | (253) | |||||
Conversions and redemptions of operating partnership units | (14,415) | (9,781) | (4,634) | ||||
Cash distributions declared to equity holders | (300,107) | (294,505) | (5,602) | ||||
Other | (173) | 3 | (176) | ||||
Equity, Ending Balance at Dec. 31, 2018 | $ 3,385,104 | $ 1,031 | $ 4,154,763 | $ (495,496) | $ (355,804) | $ 6,929 | $ 73,681 |
Consolidated Statements Of Eq_2
Consolidated Statements Of Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Common shares issued | 0 | 4,778 | 0 |
Common share options exercised | 78,972 | ||
Conversions and redemptions of operating partnership units | 2 | 3 | 8 |
Cash distributions declared to equity holders per share | $ 3.08 | $ 3 | $ 7.25 |
Additional Paid-In Capital | |||
Common share options exercised | 8 | 11 | 45 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Cash flows from operating activities | ||||
Net income | $ 160,694 | $ 200,860 | $ 838,226 | |
Net income from discontinued operations, including gain on sale | 0 | 0 | (382,842) | |
Adjustments to reconcile net income to net cash from operating activities: | ||||
Depreciation and amortization | 300,946 | 263,974 | 250,146 | |
Loss on early retirement of debt | 0 | 323 | 0 | |
Gain on sale of operating properties, including land | 0 | (43,231) | (295,397) | |
Distributions of income from joint ventures | 7,736 | 6,851 | 7,057 | |
Equity in income of joint ventures | (7,836) | (6,822) | (7,125) | [1],[2] |
Share-based compensation | 16,749 | 17,547 | 20,123 | |
Derivative, Cash Received on Hedge | (15,905) | 0 | 0 | |
Net change in operating accounts and other | 9,553 | (4,846) | 281 | |
Net cash from continuing operating activities | 503,747 | 434,656 | 430,469 | |
Net cash from discontinued operating activities | 0 | 0 | 12,594 | |
Net cash from operating activities | 503,747 | 434,656 | 443,063 | |
Cash flows from investing activities | ||||
Development and capital improvements, including land | (359,230) | (299,086) | (342,952) | |
Acquisition of operating property | (290,005) | (58,267) | 0 | |
Proceeds from sales of operating properties, including land | 11,296 | 76,902 | 515,754 | |
Purchase of short-term investments | 0 | 0 | (100,000) | |
Increase in non-real estate assets | (14,503) | (5,128) | (2,580) | |
Decrease (increase) in notes receivable | 9,475 | (1,988) | (4,063) | |
Maturity of short-term investments | 0 | 100,000 | 0 | |
Other | 2,046 | (2,187) | 3,161 | |
Net cash from continuing investing activities | (640,921) | (189,754) | 69,320 | |
Proceeds from discontinued operations, including land | 0 | 0 | 622,982 | |
Net cash from discontinued investing activities | 0 | 0 | (1,890) | |
Net cash from investing activities | (640,921) | (189,754) | 690,412 | |
Cash flows from financing activities | ||||
Borrowings on unsecured credit facility and other short-term borrowings | 342,000 | 465,000 | 1,305,000 | |
Repayments on unsecured credit facility and other short-term borrowings | (342,000) | (465,000) | (1,549,000) | |
Repayment of notes payable | (381,438) | (278,999) | (3,077) | |
Distributions to common shareholders and non-controlling interests | (298,005) | (280,761) | (663,363) | |
Proceeds from notes payable | 495,545 | 0 | 0 | |
Proceeds from issuance of common shares | 0 | 445,038 | 0 | |
Repurchase of common shares and redemption of units | (14,668) | 0 | 0 | |
Other | 1,538 | 1,799 | 6,203 | |
Net cash from financing activities | (197,028) | (112,923) | (904,237) | |
Net increase (decrease) in cash, cash equivalents, and restricted cash | (334,202) | 131,979 | 229,238 | |
Cash, cash equivalents, and restricted cash, beginning of year | 377,805 | 245,826 | 16,588 | |
Cash, cash equivalents, and restricted cash, end of year | 43,603 | 377,805 | 245,826 | |
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets [Abstract] | ||||
Total cash, cash equivalents, and restricted cash | 377,805 | 245,826 | 16,588 | |
Supplemental information | ||||
Cash paid for interest, net of interest capitalized | 81,299 | 88,654 | 93,302 | |
Cash paid for income taxes | 1,951 | 1,705 | 2,424 | |
Supplemental schedule of noncash investing and financing activities | ||||
Distributions declared but not paid | 74,982 | 72,943 | 69,161 | |
Value of shares issued under benefit plans, net of cancellations | 17,253 | 18,061 | 19,006 | |
Accrual associated with construction and capital expenditures | $ 35,588 | $ 19,016 | $ 22,762 | |
[1] | Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds | |||
[2] | Equity in income for the years ended December 31, 2017 includes our ownership interest of the hurricane related recoveries and expenses of approximately $0.4 million, respectively. |
Description Of Business
Description Of Business | 12 Months Ended |
Dec. 31, 2018 | |
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”), and all consolidated subsidiaries are 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, 2018 , we owned interests in, operated, or were developing 167 multifamily properties comprised of 56,858 apartment homes across the United States. Of the 167 properties, six properties were under construction, and will consist of a total of 1,698 apartment homes when completed. 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, 2018 | |
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. In determining if we have a controlling financial interest, we consider factors such as ownership interests, authority to make decisions, kick-out rights and participating rights. As of December 31, 2018 , two of our consolidated operating partnerships are VIEs. We are considered the primary beneficiary of both consolidated operating partnerships and therefore consolidate these operating partnerships. We hold the sole 1% general partnership interest in each of these consolidated operating partnership VIEs. During the year ended December 31, 2018 , certain unit holders of one of these consolidated operating partnerships redeemed their operating partnership units in exchange for cash consideration of approximately $14.4 million , and as of December 31, 2018 , we held approximately 95% of the outstanding common limited partnership units. We held approximately 92% of the outstanding common limited partnership units of the other consolidated operating partnership as of December 31, 2018 . 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. 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 in-place leases are included in other assets, net and the net carrying value of above or below market leases are included in other liabilities, net in our condensed consolidated balance sheets. During the year ended December 31, 2018 and 2017 , we recognized amortization expense of approximately $9.4 million and $1.3 million , respectively, related to in-place leases. We recognized revenue of approximately $0.2 million related to net below market leases for the year ended December 31, 2018 , and did not recognize any revenue related to net below market leases for the year ended December 31, 2017 . During the year ended December 31, 2018 , the weighted average amortization periods for in-place and net below market leases were approximately seven months and five months , respectively. During the year ended December 31, 2017 , the weighted average amortization period for in-place leases was approximately six months. We did not recognize any revenue or amortization expense related to below market or in-place leases for the year ended December 31, 2016. 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 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, 2018 , 2017 , or 2016 . 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. Short-term Investments . Our short-term investments consisted of certificates of deposit which have original maturities of more than three months but less than one year. 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 certain carrying costs are capitalized and reported in the balance sheet as properties under development until the apartment homes are substantially completed. As apartment homes within development properties are completed, the total capitalized development cost of each apartment home is transferred from properties under development including land to buildings and improvements. As discussed above, carrying charges are principally interest and real estate taxes capitalized as part of properties under development. Capitalized interest was approximately $13.6 million , $15.2 million , and $18.2 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. Capitalized real estate taxes were approximately $2.2 million , $2.4 million , and $4.5 million for the years ended December 31, 2018 , 2017 , and 2016 , 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. 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 Derivative Financial Instruments. Derivative financial instruments are recorded in the consolidated balance sheets at fair value and we do not apply master netting for financial reporting purposes. Accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows or other types of forecasted transactions are cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes attributable to the earnings effect of the hedged transactions. We may enter into derivative contracts which are intended to economically hedge certain of our risks, for which hedge accounting does not apply or we elect not to apply hedge accounting. Discontinued Operations . A property is classified as a discontinued operation when the disposal represents a strategic shift, such as disposal of a major line of business, a major geographical area or a major equity investment. 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. Consolidated operating properties sold or classified as held for sale, which do not meet the above criteria of discontinued operations are not included in discontinued operations and the related gains and losses are included in continuing operations. 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. See Note 8, "Acquisitions, Dispositions, and Discontinued Operations," for discussion of discontinued operations for the year ended December 31, 2016. There were no discontinued operations for the years ended 2018 or 2017 . 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 following describes the valuation methodologies we use to measure different financial instruments at fair value on a recurring basis: Deferred Compensation Plan Investments. The estimated fair values of investment securities classified as deferred compensation plan investments are based on quoted market prices utilizing public information for the same transactions. Our deferred compensation plan investments are recorded in other assets in our consolidated balance sheets. The inputs associated with the valuation of our recurring deferred compensation plan investments are included in Level 1 of the fair value hierarchy. Derivative Financial Instruments. The estimated fair values of derivative financial instruments are valued using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and volatility. The fair values of interest rate swaps and caps are estimated using the market-standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit enhancements to the contracts, are incorporated in the fair values to account for potential nonperformance risk, including our own nonperformance risk and the respective counterparty’s nonperformance risk. The fair value of interest rate caps is determined using the market-standard methodology of discounting the future expected cash receipts which would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observed market interest rate curves and volatilities. Although we have determined the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default. However, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined our derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. 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. Long-lived assets such as the land, real estate asset, and in-place leases acquired with an operating property are measured in the form of cash received unless otherwise noted. These assets 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, 2018 and 2017 , the carrying values of cash and cash equivalents, short-term investments, 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 revenue is recognized on a straight-line basis and other property revenue is recorded when due from residents and is recognized 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 twelve 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. See Note 3, "Revenues," for further discussion. 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. As of December 31, 2018 , we reclassified certain insignificant amounts within investing activities which had no impact on our consolidated statements of cash flows for the years ended December 31, 2017 and 2016 . 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, 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 12, “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. Notes Receivable. We have one note receivable included in Other assets, net in our consolidated balance sheets, relating to a real estate secured loan to an unaffiliated third party. During 2018, we received payments of approximately $9.5 million in principal and approximately $0.5 million in interest on this note which matures on October 1, 2025. At December 31, 2018 and 2017 , the outstanding note receivable balance was approximately $9.3 million and $18.8 million , respectively, and the weighted average interest rate was approximately 4.0% for each of the years ended December 31, 2018 and 2017 . Interest is recognized over the life of the note 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, and 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, 2018 or 2017 . 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, 2018 , 2017 , and 2016 . 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 and is adjusted as actual forfeitures occur. 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 October 2018, the Financial Accounting Standards Board ("FASB") issue d Accounting Standards Update 2018-16 ("ASU 2018-16"), "Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes." ASU 2018-16 permits the use of the overnight index swap rate based on the Secured Overnight Financing Rate to be used as a U.S. benchmark interest rate for hedge accounting purposes. ASU 2018-16 is effective for public entities which have already adopted ASU 2017-12 beginning after December 31, 2018. Since we already adopted ASU 2017-12, we adopted ASU 2018-16 as of January 1, 2019 with no impact on our existing hedges. We will consider these changes for qualifying new or redesignated hedging relationships entered into in the future. In August 2018, the FASB issued ASU 2018-15 "Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." ASU 2018-15 clarifies certain implementation costs relating to a cloud computing arrangement which is considered to be a service contract should be capitalized as if the arrangement was an internal-use software project. The standard also requires costs associated with an implementation to be classified where the fees are recorded in financial statements for such arrangements. ASU 2018-15 is effective for interim and annual periods beginning after December 15, 2019, and early adoption is permitted. This standard may be applied using the prospective transition method which is applicable to service contracts entered, renewed, or materially modified after the effective date or the retrospective transition method which allows us to recognize a cumulative effect adjustment to the opening balance of retained earnings, if any, as of the adoption date. We anticipate adopting ASU 2018-15 as of January 1, 2020, using the retrospective transition method and we do not expect our adoption to have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-13 " Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. " ASU 2018-13 removes, modifies, and adds certain fair value disclosure requirements including (i) the removal of disclosures regarding amounts, reasons, and timing for transfers between Levels 1 and 2 as well as descriptions of valuation processes used for Level 3 measurements of the fair value hierarchy; (ii) the modification of disclosures for the timing of liquidation of investee assets; (iii) the clarification of the narrative description of the measurement uncertainty of Level 3 fair value measurements at the reporting date does not need to include sensitivity of future changes; (iv) the addition of disclosures related to changes in unrealized gains and losses in other comprehensive income for recurring Level 3 fair value measurements to also be included in the statement of comprehensive income; and (v) the addition of disclosures for the range and weighted average of significant unobservable inputs. ASU 2018-13 is effective January 1, 2020 for the additional disclosures and early adoption of the removal and amended disclosures is allowed. We expect to adopt ASU 2018-13 as of January 1, 2020 and do not expect the adoption to have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 "Revenue from Contracts with Customers." ASU 2014-09 prescribes a single, common revenue standard to replace most existing revenue recognition guidance in GAAP, including most industry-specific requirements. The standard outlines a five-step model whereby revenue is recognized as performance obligations within a contract are satisfied. Several ASUs intended to promote a more consistent interpretation and application of the principles outlined in the standard have been issued since the issuance of ASU 2014-09 which modify certain sections of the new revenue recognition standard. We adopted ASU 2014-09 and all related amendments effective January 1, 2018 using the modified retrospective with cumulative effect transition method. This method requires us to recognize the cumulative effect of initially applying the new revenue standard as an adjustment, if any, to the opening balance of retained earnings, which had no impact on our consolidated financial statements upon adoption. See Note 3, "Revenues," for additional disclosures required by the ASU. In February 2016, the FASB issued ASU 2016-02, "Leases." ASU 2016-02 supersedes the current accounting for leases. The new lease standard retains three distinct types of leases which are similar to existing guidance for lessors: operating, sales-type, and financing, and aligns many of the underlying lessor model principles with those in the new revenue standard. For lessees, the new lease standard retains two distinct types of leases, finance and operating; and (i) requires lessees to record a right of use asset and a related liability for the rights and obligations associated with a lease, regardless of lease classification, and recognize lease expense in a manner similar to current accounting and (ii) eliminates most real estate specific lease provisions. We adopted ASU 2016-02 and its related amendments as of January 1, 2019 using the transition practical expedient which allows us to recognize a cumulative-effect adjustment to the opening balance of retained earnings as of the adoption date as well as other elected practical expedients. We have identified our lease commitments and finalized our evaluation on our consolidated financial statements and on our internal accounting processes. Substantially all of our real estate lessor commitments will continue to be accounted for as operating leases and the new leasing standard will not have a material impact on rental revenues. Our lessee operating lease commitments are subject to the standard and recognized as operating lease |
Revenues Revenues
Revenues Revenues | 12 Months Ended |
Dec. 31, 2018 | |
Revenue Recognition, Leases [Abstract] | |
Revenue Recognition, Leases [Policy Text Block] | 3. Revenue On January 1, 2018, we adopted ASU 2014-09 and all related amendments in accordance with ASU 2014-09 and elected to apply the new revenue standard to those contracts which were not completed as of January 1, 2018. We also elected to omit disclosing the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the invoiced amount directly corresponds to the value transferred to the customer as provided for in the practical expedients. Our adoption of ASU 2014-09 and its related amendments did not have a material impact upon our consolidated financial statements as the majority of our revenues are derived from real estate lease contracts which are scoped out of ASU 2014-09. Our presentation of revenue within our condensed consolidated statements of income and comprehensive income is separated into its component parts by the nature and timing of the revenue streams. Our revenue within the scope of this new revenue standard is recognized when the services are transferred to our customers for an amount which reflects the consideration we expect to receive in exchange for those services rendered and include the following: Other Property Revenues. The items within other property revenues relate to non-lease components within a lease contract and primarily consist of utility rebillings which are usually recognized over time and other transactional fees primarily recognized at a point-in-time. These fees are charged to our residents and recognized monthly as the performance obligation is satisfied. Upon our adoption of ASU 2014-09, we are now presenting certain revenue items, historically included as a component of other property revenues, as rental revenues due to the nature and timing of revenue recognition for these items being more closely aligned to a lease. This new presentation has been applied prospectively as this reclassification will not have an impact upon total property revenues or the opening balance of retained earnings. Approximately $22.2 million of rental revenue is related to this presentation for the year ended December 31, 2018 . Had ASU 2014-09 been effective as of January 1, 2017, we would have reclassified approximately $21.9 million from other property revenues to rental revenue for the year ended December 31, 2017 . Fee and Asset Management Income. Management fee income primarily consists of fees charged to our unconsolidated joint ventures for managing the joint venture, and the development, redevelopment and capital expenditures of their operating communities. While the individual activities related to these fees may vary, the services provided are substantially similar, have the same pattern of transfer, and are considered to be individual performance obligations composed of a series of distinct services, recognized monthly as earned. We also generate construction fees for construction management and general contracting services provided to third-party owners of multifamily, commercial, and retail properties. These fees are recognized as we satisfy our single performance obligation over time based on a percentage-of-completion of cost basis which we believe is an accurate depiction of the transfer of control to our customers. For these contracts, significant judgment is used to estimate the cost plus margin for the project fee and our profitability on those contracts is dependent on the ability to accurately predict such factors. Contract Balances. We record third-party construction receivables for amounts where we have unconditional rights to payment but have not received and liabilities for amounts incurred but not paid. For the years ended December 31, 2018 and 2017 , these contract receivable and liability balances were immaterial. |
Per Share Data
Per Share Data | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Per Share Data | 4. 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 2.1 million , 1.5 million , and 2.4 million for the years ended December 31, 2018 , 2017 , and 2016 , 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) 2018 2017 2016 Earnings per common share calculation – basic Income from continuing operations attributable to common shareholders $ 156,128 $ 196,422 $ 436,981 Amount allocated to participating securities (1,107 ) (660 ) (6,304 ) Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities $ 155,021 $ 195,762 $ 430,677 Discontinued operations, including gain on sale, attributable to common shareholders — — 382,842 Net income attributable to common shareholders – basic $ 155,021 $ 195,762 $ 813,519 Earnings per common share from continuing operations $ 1.63 $ 2.14 $ 4.81 Earnings per common share from discontinued operations — — 4.27 Total earnings per common share – basic $ 1.63 $ 2.14 $ 9.08 Weighted average number of common shares outstanding – basic 95,208 91,499 89,580 Year Ended December 31, (in thousands, except per share amounts) 2018 2017 2016 Earnings per common share calculation – diluted Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities $ 155,021 $ 195,762 $ 430,677 Income allocated to common units from continuing operations — 1,174 — Income from continuing operations attributable to common shareholders, as adjusted $ 155,021 $ 196,936 $ 430,677 Discontinued operations, including gain on sale, attributable to common shareholders — — 382,842 Net income attributable to common shareholders – diluted $ 155,021 $ 196,936 $ 813,519 Earnings per common share from continuing operations $ 1.63 $ 2.13 $ 4.79 Earnings per common share from discontinued operations — — 4.26 Total earnings per common share – diluted $ 1.63 $ 2.13 $ 9.05 Weighted average number of common shares outstanding – basic 95,208 91,499 89,580 Incremental shares issuable from assumed conversion of: Common share options and share awards granted 158 211 323 Common units — 805 — Weighted average number of common shares outstanding – diluted 95,366 92,515 89,903 |
Common Shares
Common Shares | 12 Months Ended |
Dec. 31, 2018 | |
Stockholders' Equity Note [Abstract] | |
Common Shares [Text Block] | 5. Common Shares In May 2017, 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 $315.3 million (the "2017 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. The proceeds from the sale of our common shares under the 2017 ATM program are intended to be used for general corporate purposes, which may include reducing future borrowings under our unsecured line of credit or short-term borrowing facilities, the repayment of other indebtedness, the redemption or other repurchase of outstanding debt or equity securities, funding for development activities, and financing for acquisitions. For the year ended December 31, 2018, we did not sell any shares under the 2017 ATM program. The following table presents activity under the 2017 ATM program for the year ended December 31, 2017: (in thousands, except per share amounts) Year Ended December 31, 2017 Total net consideration $ 2,513.6 Common shares sold 28.1 Average price per share $ 90.44 As of the date of this filing, we had common shares having an aggregate offering price of up to $312.8 million remaining available for sale under the 2017 ATM program. No additional shares were sold under the 2017 ATM program subsequent to December 31, 2018 through the date of this filing. We have a repurchase plan approved by our Board of Trust Managers which allows for the repurchase of up to $500 million of our common equity securities through open market purchases, block purchases, and privately negotiated transactions. In 2018, we repurchased 3,222 common shares for approximately $0.3 million . 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 $269.5 million . There were no repurchases for the years ended December 31, 2017 or 2016 under this program, or subsequent to December 31, 2018 through the date of this filing. 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, 2018 , we had approximately 93.2 million common shares outstanding, net of treasury shares and shares held in our deferred compensation arrangements, and no preferred shares outstanding. In addition to our 2016 quarterly dividends, our Board of Trust Managers declared a special dividend of $ 4.25 per common share to our common shareholders of record as of September 23, 2016 , consisting of gains on dispositions of assets completed in 2016, which was paid on September 30, 2016 . We also paid equivalent amounts per unit to holders of the common operating partnership units. |
Operating Partnerships
Operating Partnerships | 12 Months Ended |
Dec. 31, 2018 | |
Operating Partnerships [Abstract] | |
Operating Partnerships [Text Block] | 6. Operating Partnerships At December 31, 2018 , approximately 4% 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, 2018 , we held approximately 92% 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 Property Trust 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. At December 31, 2018 , approximately 33% of our consolidated multifamily apartment homes were held in Camden Summit Partnership, L.P. (the “Camden Summit Partnership”). Camden Summit Partnership has 22.8 million outstanding common limited partnership units and as of December 31, 2018 , we held approximately 95% of the outstanding common limited partnership units and the sole 1% general partnership interest of Camden Summit Partnership. The remaining common limited partnership units, comprising approximately 1.0 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 Property Trust or cash at our election and 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. During 2018, we entered into an agreement with certain holders of common units of limited partnership interest in the Camden Summit Partnership, which holders included two of our Trust Managers. This agreement modifies the original terms of the Tax Protection Agreement dated February 28, 2005 which states the Camden Summit Partnership must maintain a certain amount of secured debt until February 28, 2020 to protect the negative tax capital of the unitholders or reimburse the unitholders for income taxes incurred from the repayment of this indebtedness. Pursuant to this 2018 agreement, Camden Summit Partnership issued $100.0 million of unsecured debt with an unrelated third party which was guaranteed by Camden Property Trust. Additionally, each such unitholder agreed to indemnify Camden Property Trust for their portion of the unsecured debt equal to the amount of income and gain which would be required to be recognized by the unitholder due to their negative tax capital account; the indemnities are for a one-year period with an annual October 15 renewal right. These amounts were approximately $21.2 million in the aggregate for the two Trust Managers which are holders of common units of limited partner interest in Camden Summit Partnership. In return, Camden Summit Partnership agreed to extend the duration of the Tax Protection Agreement for two years for each year such unitholder's indemnification agreement remains in place. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 7. 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 for taxable years ended before January 1, 2019 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, 2018 , 2017 and 2016 as income tax expense. Income taxes for the years ended December 31, 2018 , 2017 and 2016 , 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, 2018 , 2017 and 2016 is set forth in the following table: Year Ended December 31, 2018 2017 2016 Common Share Distributions Ordinary income $ 2.99 $ 2.38 $ — Long-term capital gain 0.09 0.41 5.02 Unrecaptured Sec. 1250 gain — 0.21 2.23 Total $ 3.08 $ 3.00 $ 7.25 We have taxable REIT subsidiaries which are subject to federal and state income taxes. At December 31, 2018 , our taxable REIT subsidiaries had immaterial net operating loss carryforwards (“NOL’s”) which expire in years 2034 to 2037 and 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, 2018 exceeded the tax basis by approximately $1.3 billion . Income Tax Expense . For the tax year ended December 31, 2018 , we had income tax expense of approximately $1.4 million , and $1.2 million and $1.6 million for the tax years ended December 31, 2017 and 2016 , respectively. Income tax for the years ended December 31, 2018 , 2017 , and 2016 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, 2018 , 2017 , and 2016 , our deferred tax expense was not significant. The income tax returns of Camden Property Trust and its subsidiaries are subject to examination by federal, state and local tax jurisdictions for years 2015 through 2017 . Tax attributes generated in years prior to 2015 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. Tax reform . The 2017 Tax Act was passed on December 22, 2017 which includes a number of changes to the corporate income tax system, including but not limited to a reduction in the statutory federal corporate income tax rate from 35% to 21% for non-REIT “C” corporations, changes to deductions for certain pass-through business income, and possible limitations on interest expense, depreciation and the deductibility of executive compensation. As a REIT, we generally will not be subject to federal income tax on our taxable income at the corporate level and the changes from the 2017 Tax Act did not have a material impact on our consolidated financial statements. |
Acquisitions, Dispositions, Imp
Acquisitions, Dispositions, Impairment, and Discontinued Operations | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Acquisitions, Dispositions, Impairment, and Discontinued Operations [Text Block] | 8. Acquisitions, Dispositions, and Discontinued Operations Asset Acquisition of Operating Properties. In September 2018, we acquired one operating property comprised of 299 apartment homes located in Orlando, Florida, for approximately $89.8 million . In February 2018, we acquired one operating property comprised of 333 apartment homes located in Orlando, Florida, for approximately $81.4 million . In January 2018, we acquired one operating property comprised of 358 apartment homes located in St. Petersburg, Florida, for approximately $126.9 million . In June 2017, we acquired one operating property comprised of 250 apartment homes, located in Atlanta, Georgia, for approximately $58.3 million . There were no asset acquisitions of operating properties for the year ended December 31, 2016. Acquisitions of Land. In April 2018, we acquired approximately 1.8 acres of land in Orlando, Florida for approximately $11.4 million for the development of a community with 360 wholly-owned apartment homes which started construction during the quarter ended June 30, 2018. During the year ended December 31, 2017 , we acquired approximately 8.2 acres of land in San Diego, California for approximately $20.0 million . During the year ended December 31, 2016 , we acquired an aggregate of approximately 4.6 acres of land located in Denver, Colorado and Charlotte, North Carolina for approximately $19.9 million . Land Holding Dispositions. In September 2018, we sold approximately 14.1 acres of land adjacent to two development properties in Phoenix, Arizona for approximately $11.5 million . During the year ended December 31, 2017 , we did not sell any land. During the year ended December 31, 2016 , we sold approximately 6.3 acres of land adjacent to an operating property in Tampa, Florida for approximately $2.2 million and recognized a gain of approximately $0.4 million . Sale of Operating Properties. We did not sell any operating properties during the year ended December 31, 2018 . During the year ended December 31, 2017 , we sold one operating property, comprised of 1,005 apartment homes, located in Corpus Christi, Texas for approximately $78.4 million and recognized a gain of approximately $43.2 million . During the year ended December 31, 2016 , we sold one dual-phased property and six other operating properties comprised of an aggregate of 3,184 apartment homes with an average age of 24 years, located in Landover and Frederick, Maryland; Fullerton, California; and Tampa, Altamonte Springs, and St. Petersburg, Florida for an aggregate of approximately $523.4 million , and recognized a gain of approximately $294.9 million . Discontinued Operations. During the years ended December 31, 2018 and 2017, we did not have any discontinued operations. During the year ended December 31, 2016, we had discontinued operations related to the sale in April 2016 of 15 operating properties, comprised of an aggregate of 4,918 apartment homes, with an average age of 23 years, a retail center and approximately 19.6 acres of land, all located in Las Vegas, Nevada, to an unaffiliated third party for an aggregate of approximately $630.0 million and recognized a gain of approximately $375.2 million , net of closing costs. The following is a summary of income from discontinued operations for the year ended December 31, 2016 relating to the 15 operating properties and the retail center sold in April 2016: Year Ended December 31, (in thousands) 2016 Property revenues $ 19,184 Property expenses (6,898 ) $ 12,286 Property management expense (242 ) Depreciation and amortization (4,327 ) Income tax expense (112 ) Income from discontinued operations $ 7,605 Gain on sale of discontinued operations, net of tax $ 375,237 |
Investments In Joint Ventures
Investments In Joint Ventures | 12 Months Ended |
Dec. 31, 2018 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments In Joint Ventures | 9. Investments in Joint Ventures Our equity investments in unconsolidated joint ventures, which we account for utilizing the equity method of accounting, consists of three funds (collectively, the "Funds"). At December 31, 2018 , 2017 , and 2016 , we had two discretionary investment funds in which we had an ownership interest of 31.3% in each of these funds. 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 . We have a 20.0% ownership interest in this third fund, and it did not own any properties in 2018 , 2017 , or 2016 . 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) 2018 2017 Total assets $ 695.2 $ 715.9 Total third-party debt 510.7 514.5 Total equity 158.4 174.5 2018 2017 2016 Total revenues $ 127.4 $ 121.9 $ 119.8 Net income (1) 16.4 13.5 14.8 Equity in income (2) (3) 7.8 6.8 7.1 (1) Net income for the years ended December 31, 2017 includes approximately $1.3 million of property expense, respectively, relating to Hurricanes Harvey and Irma in the third quarter of 2017. (2) Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds. (3) Equity in income for the years ended December 31, 2017 includes our ownership interest of the hurricane related recoveries and expenses of approximately $0.4 million , respectively. The Funds in which we have a partial interest have been funded in part with secured third-party debt. As of December 31, 2018 , we had no outstanding guarantees related to debt 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 $5.7 million , $5.8 million , and $5.3 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. |
Notes Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2018 | |
Notes Payable [Abstract] | |
Notes Payable | 10. Notes Payable The following is a summary of our indebtedness: December 31, (in millions) 2018 2017 Commercial banks Term loan, due 2022 $ 99.6 $ — Senior unsecured notes ( 1 ) 4.78% Notes, due 2021 $ 249.1 $ 248.7 3.15% Notes, due 2022 347.3 346.6 5.07% Notes, due 2023 248.0 247.6 4.36% Notes, due 2024 248.7 248.5 3.68% Notes, due 2024 247.6 247.2 3.74% Notes, due 2028 396.1 — $ 1,736.8 $ 1,338.6 Total unsecured notes payable $ 1,836.4 $ 1,338.6 Secured notes ( 1 ) 4.38% – 5.33% Conventional Mortgage Notes, due 2019 – 2045 485.2 866.0 Total notes payable $ 2,321.6 $ 2,204.6 Floating rate debt included in unsecured notes (3.34%) $ 99.6 $ — Floating rate debt included in secured notes (1.92%) $ — $ 175.0 Value of real estate assets, at cost, subject to secured notes $ 867.9 $ 1,534.9 (1) Unamortized debt discounts and debt issuance costs of $13.9 million and $12.3 million are included in senior unsecured and secured notes payable as of December 31, 2018 and 2017 , respectively. In August 2015, we amended and restated our $500 million unsecured credit 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, 2018 , we had no amounts outstanding on our $600 million credit facility and we had outstanding letters of credit totaling approximately $10.1 million , leaving approximately $589.9 million available under our credit facility. In May 2018, we extended the term on our $45.0 million unsecured short-term borrowing facility from May 2018 to May 2019 . The interest rate is based on LIBOR plus 0.95% . At December 31, 2018 , we had no amounts outstanding on this unsecured short-term borrowing facility, leaving $45.0 million available under this facility. In September 2018, we entered into a $100.0 million three -year unsecured floating-rate term loan with an unrelated third party, which was funded in October 2018. The interest rate on the term loan is based on LIBOR plus a margin which is subject to change as our credit ratings change. See Note 6, "Operating Partnerships" for a further discussion of this transaction. In October 2018, we repaid at maturity our $175.0 million variable rate secured conventional mortgage notes and $205.0 million of outstanding fixed rate secured conventional mortgage notes which were scheduled to mature in 2018 from our unsecured line of credit, other short-term borrowings, and the $100.0 million term loan discussed above. Also in October 2018, we issued $400.0 million aggregate principal amount of 4.100% senior unsecured notes due October 15, 2028 (the "2028 Notes") under our existing shelf registration statement. The 2028 Notes were offered to the public at 99.893% of their face amount with a stated rate of 4.100% and a yield to maturity of 4.113% . After giving effect to the settlement of the swap agreements as discussed below in Note 11, "Derivative Financial Instruments and Hedging Activities," and deducting the underwriting discounts and other estimated expenses of the offering, the effective annual interest rate on the 2028 Notes is approximately 3.74% . We received net proceeds of approximately $396.1 million , net of underwriting discounts and other estimated offering expenses. Interest on the 2028 Notes is payable semi-annually on April 15 and October 15, beginning April 15, 2019. We may redeem the 2028 Notes, in whole or in part, at any time at a redemption price equal to the principal amount and accrued interest of the notes being redeemed, plus a make-whole provision. If, however, we redeem the 2028 Notes 90 days or fewer prior to the maturity date, the redemption price will equal 100% of the principal amount of the 2028 Notes to be redeemed plus accrued and unpaid interest on the amount being redeemed to the redemption date. The 2028 Notes are direct, senior unsecured obligations and rank equally with all of our other unsecured and unsubordinated indebtedness. We used the proceeds from the offering of the 2028 Notes to repay outstanding balances on our unsecured line of credit and other short-term borrowings (including amounts incurred to repay the $380.0 million secured unconventional mortgage notes) and the remainder for general corporate purposes. At December 31, 2018 , we had $99.6 million outstanding floating rate debt with a weight average interest rate on this debt of approximately 3.3% . At December 31, 2017 , we had outstanding floating rate debt of approximately $175.0 million with a weighted average interest rate on this debt of approximately 1.9% . Our indebtedness had a weighted average maturity of 4.9 years at December 31, 2018 . 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, 2018 : (in millions) Amount Weighted Average Interest Rate 2019 $ 437.3 5.2 % 2020 (1) (1.9 ) — 2021 248.5 4.8 2022 448.8 3.2 2023 249.8 5.1 Thereafter 939.1 3.9 Total $ 2,321.6 4.2 % (1) Includes only amortization of debt discounts and debt issuance costs, net of scheduled principal payments. Subsequent to December 31, 2018, we repaid $200.0 million of secured notes utilizing our unsecured credit facility. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Fair Value [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 11. Derivative Financial Instruments and Hedging Activities Risk Management Objective of Using Derivatives. We are exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of our debt funding and the use of derivative financial instruments. Specifically, we may enter into derivative financial instruments to manage exposures arising from business activities resulting in differences in the amount, timing, and duration of our known or expected cash payments principally related to our borrowings. See Note 2, "Summary of Significant Accounting Policies and Recent Accounting Pronouncements" for a further discussion of derivative financial instruments. Cash Flow Hedges of Interest Rate Risk. Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish these objectives, we primarily use interest rate swaps and caps as part of our interest rate risk management strategy. Interest rate swaps involve the receipt of variable rate amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate caps involve the receipt of variable rate amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an upfront premium. Our interest rate swaps and caps hedge interest expense and net proceeds from the settlement of such hedges will be classified as operating activities in the consolidated statement of cash flows. Designated Hedges. The gain or loss on the derivatives designated and qualifying as cash flow hedges is reported as a component of other comprehensive income or loss and subsequently reclassified into earnings in the period the hedged forecasted transaction affects earnings and presented in the same line item as the earnings effect of the hedged item. During 2018, we entered into four designated hedges with a total notional value of $500.0 million to hedge a portion of anticipated future fixed rate debt issuances in 2018 and 2019. At December 31, 2018, we had a total of two designated hedges outstanding with a total notional value of $300.0 million to hedge a portion of anticipated future fixed rate debt issuances in 2019. At December 31, 2017, we had a total of three designated hedges outstanding with a total notional value of $200.0 million to hedge a portion of anticipated future fixed rate debt issuances in 2018. In connection with the issuance of our 2028 Notes, we settled an aggregate of $400.0 million forward interest rate swap designated hedges resulting in a cash receipt of approximately $15.9 million which was recorded in accumulated other comprehensive income on our consolidated balance sheets and will be recognized over the life of the issued debt as an adjustment to interest expense. Non-Designated Hedges. Derivatives are not entered into for trading or speculative purposes and are used to manage our exposure to interest rate movements and other identified risks. Our non-designated hedges are either specifically non-designated by management or do not meet strict hedge accounting requirements. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings in interest and other income. At December 31, 2018 and 2017, we did not have any non-designated hedges outstanding. The table below presents the fair value of our derivative financial instruments as well as their classification in the consolidated balance sheets at December 31, 2018 and 2017: Asset Derivatives Liability Derivatives December 31, 2018 (1) December 31, 2017 December 31, 2018 (1) December 31, 2017 (in millions) Balance Sheet Fair Balance Sheet Fair Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedging instruments Interest Rate Swaps Other Assets $ — Other Assets $ 2.2 Other Liabilities $ 7.4 Other Liabilities $ 0.5 (1) The derivatives subject to master netting arrangements are presented on a gross basis on our condensed consolidated balance sheet as of December 31, 2018 . There were no derivative contracts in a master netting arrangement as of December 31, 2018 and 2017. The table below presents the effect of our derivative financial instruments in the consolidated statements of income and comprehensive income for the year ended December 31, 2018 and 2017: (in millions) Unrealized Gain Recognized in Other Location of Gain Amount of Gain Derivatives in Cash Flow Hedging Relationships 2018 2017 2018 2017 Interest Rate Swaps $ 6.8 $ 1.7 Interest expense $ 0.4 $ — As of December 31, 2018 , the amount we expect to be reclassified into earnings in the next 12 months as a decrease to interest expense is approximately $0.7 million . Credit-Risk-Related Contingent Features. Derivative financial investments expose us to credit risk in the event of non-performance by the counterparties under the terms of the interest rate hedge agreements. The Company has an agreement with a derivative counterparty that contains a provision where the Company could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company's default on the indebtedness. As of December 31, 2018 , the fair value of derivatives in a net liability position, which excludes any adjustment for nonperformance risk, related to these agreements was approximately $7.4 million . |
Share-Based Compensation and Be
Share-Based Compensation and Benefit Plans | 12 Months Ended |
Dec. 31, 2018 | |
Share-based Compensation [Abstract] | |
Share-Based Compensation and Benefit Plans | 12. Share-based Compensation and Benefit Plans Incentive Compensation. We currently maintain the 2018 Share Incentive Plan (the “2018 Share Plan”) and the 2011 Share Incentive Plan (the “2011 Share Plan”), although no new awards may be granted under the 2011 Plan. Each of these plans were approved by the Company’s shareholders. The shares available for awards under the 2018 Share Plan are, subject to certain other limits under the plan, generally available for any type of award authorized under the 2018 Share Plan, including stock options, stock appreciation rights, restricted stock awards, stock bonuses and other stock-based awards. Persons eligible to receive awards under the 2018 Share Plan include officers and employees of the Company or any of its subsidiaries, Trust Managers of the Company, and certain consultants and advisors to the Company or any of its subsidiaries. A total of 9.7 million shares (“Share Limit”) was authorized under the 2018 Share Plan. Shares issued or to be issued are counted against the Share Limit as set forth as (1) 3.45 to 1.0 for every share award, excluding stock options and share appreciation rights, granted, and (2) 1.0 to 1.0 for every share of stock option or share appreciation right granted. As of December 31, 2018 , there were approximately 8.2 million common shares available under the 2018 Share Plan, which would result in approximately 2.4 million shares which could be granted pursuant to full value awards conversion ratios as defined under the plan. Total compensation cost for option and share awards charged against income was approximately $17.8 million , $ 18.8 million , and $ 21.3 million for 2018 , 2017 and 2016 , respectively. Total capitalized compensation cost for option and share awards was approximately $3.0 million for the year ended December 31, 2018 , and was $3.8 million for both years ended December 31, 2017, and 2016. A summary of activity under our share incentive plans for the year ended December 31, 2018 is shown below: 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, 2017 68,978 $ 61.15 499,898 $ 75.80 Granted 9,994 78.55 232,478 82.81 Exercised/Vested (78,972 ) 63.35 (316,668 ) 75.66 Forfeited — — (25,027 ) 79.83 Total options and nonvested share awards outstanding at December 31, 2018 — $ — 390,681 $ 79.82 Options. Stock options other than reload options have a contractual life of ten years and vest over periods up to five years. Reload options vest at the grant date. 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 had an exercise price equal to the fair market value of a common share on the date of grant and expired on the same date as the original options which were exercised. None of our current incentive compensation plans carry reload option rights, and all of our obligations relating to reload options have been satisfied as of December 31, 2018. Expense for stock options is based on grant date fair value and recognized on a straight-line method over the vesting period. We estimate the fair values of each option award on the date of grant using the Black-Scholes option pricing model. The weighted-average fair value of reload stock options granted during the years ended December 31, 2018, 2017 and 2016 and the weighted-average assumptions for such grants were as follows: Year Ended Year Ended Year Ended December 31, 2016 Weighted average fair value of options granted $4.11 $5.25 $6.71 Expected volatility 15.1% 18.9% 18.0% Risk-free interest rate 2.0% 1.3% 0.9% Expected dividend yield 3.3% 5.5% 3.8% Expected life 1 year 2 years 3 years Our computations of expected volatility for 2018 , 2017 , and 2016 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. The total intrinsic value of options exercised was approximately $2.0 million , $2.2 million , and $8.9 million during the years ended December 31, 2018 , 2017, and 2016, respectively. At December 31, 2018 , there was no unrecognized compensation cost related to unvested options and there were no options outstanding. Share Awards and Vesting. Share awards for employees vest over periods up to five years and are valued at the market value of the shares on the grant date. In the event the holder of the share awards attains at least age 65, with ten or more years of service ("Retirement Eligibility") 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. At December 31, 2018 , the weighted average fair value of share awards granted was $82.81 , $83.41 and $74.92 in 2018, 2017 and 2016, respectively. The total fair value of shares vested during the years ended December 31, 2018 , 2017 and 2016 was approximately $24.0 million , $ 23.1 million , and $ 27.2 million , respectively. At December 31, 2018 , the unamortized value of previously issued unvested share awards was approximately $15.4 million which is expected to be amortized over the next two years. Employee Share Purchase Plan (“ESPP”). In May 2018, our shareholders approved the 2018 Employee Share Purchase Plan (the "2018 ESPP") which amends and restates our 1999 Employee Share Purchase Plan (the "1999 ESPP") effective with the offering period commencing in June 2018. Under the 2018 ESPP, we may issue up to a total of approximately 500,000 common shares. The 2018 ESPP permits eligible employees to purchase our common shares either through payroll deductions or through semi-annual contributions. Each offering period has a six month duration commencing in June and December for which shares may be purchased 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: 2018 2017 2016 Shares purchased 15,330 18,986 20,797 Weighted average fair value of shares purchased $ 90.93 $ 89.89 $ 82.33 Expense recorded (in millions) $ 0.2 $ 0.3 $ 0.4 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 both December 31, 2018 and 2017 , approximately 1.7 million share awards were held in the rabbi trust. Additionally, as of December 31, 2018 and 2017 , the rabbi trust held trading securities totaling approximately $14.9 million and $26.7 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, 2018 and 2017 , approximately $ 21.2 million and $ 22.3 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 Share Awards. 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 0.7 million and 1.0 million share awards were held in the plan at December 31, 2018 and 2017 , respectively. Additionally, as of December 31, 2018 and 2017 , the plan held trading securities totaling approximately $129.8 million and $ 93.6 million , respectively, which represents cash deferrals made by plan participants and diversification of share awards within the plan to trading securities. 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. The plan, as amended, permitted diversification of fully vested share awards into other equity securities subject to a six month holding period. Balances within temporary equity in our consolidated balance sheets relate to fully vested awards and the proportionate share of nonvested awards of participants within our Non-Qualified Deferred Compensation Plan who were permitted to diversify their shares into other equity securities. The following table summarizes the eligible share award activity for the twelve months ended December 31: (in thousands) 2018 2017 Temporary equity: Balance at inception/beginning of period $ 77,230 $ 77,037 Change in classification 16,407 13,388 Change in redemption value (669 ) 10,038 Diversification of share awards (429 and 261 shares during December 31, 2018 and 2017, respectively) (40,294 ) (23,233 ) Balance at December 31 $ 52,674 $ 77,230 In December 2018, the plan was amended and restated and effective January 1, 2019 participants in the plan are no longer able to diversify their common shares six months after vesting. Thus, the fully vested share awards and the proportionate share of nonvested share awards eligible for diversification at the amendment date were reclassified on the effective date from temporary equity into additional paid-in capital in our consolidated balance sheet. Deferred share-based compensation cannot be diversified, and distributions from this plan are made in the same form as the original deferral. 401(k) Savings Plan. We have a 401(k) savings plan, which is a voluntary defined contribution plan, which provides participating employees the ability to elect to contribute up to 60 percent of eligible compensation, subject to limitations as defined by the federal tax code, with the Company making matching contributions up to a predetermined limit. The matching contributions made for the year ended December 31, 2018 , was approximately $2.9 million , and were approximately $2.7 million for the each of the years ended December 31, 2017 and 2016 . Employees 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. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 13. 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, 2018 and 2017 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, 2018 December 31, 2017 (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 Other Assets Deferred compensation plan investments (1) $ 144.7 $ — $ — $ 144.7 $ 120.3 $ — $ — $ 120.3 Derivative financial instruments - forward interest rate swap — — — — — 2.2 — 2.2 Other Liabilities Derivative financial instruments - forward interest rate swaps $ — $ 7.4 $ — $ 7.4 $ — $ 0.5 $ — $ 0.5 (1) Approximately $12.7 million and $4.2 million of participant cash was withdrawn from our deferred compensation plan investments during the years ended December 31, 2018 and 2017 , respectively. Approximately $40.3 million and $23.2 million of shares within the deferred compensation plan were diversified into other deferred compensation plan investments during the years ended December 31, 2018 and 2017, 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.” We completed three asset acquisitions of operating properties during the year ended December 31, 2018 and one asset acquisition of an operating property during the year ended December 31, 2017. We recorded the real estate assets and identifiable below market and in-place leases at their relative fair values based upon methods similar to those used by independent appraisers of income producing properties. The fair value measurements associated with the valuation of these acquired assets represent Level 3 measurements within the fair value hierarchy. See Note 8, "Acquisitions, Dispositions, and Discontinued Operations" for a further discussion about these acquisitions. Financial Instrument Fair Value Disclosures. The following table presents the carrying and estimated fair values of our notes payable at December 31, 2018 and 2017 , in accordance with the policies discussed in Note 2, "Summary of Significant Accounting Policies and Recent Accounting Pronouncements." December 31, 2018 December 31, 2017 (in millions) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Fixed rate notes payable $ 2,222.0 $ 2,265.4 $ 2,029.6 $ 2,106.5 Floating rate notes payable 99.6 99.4 175.0 173.7 |
Net Change In Operating Account
Net Change In Operating Accounts | 12 Months Ended |
Dec. 31, 2018 | |
Increase (Decrease) in Operating Capital [Abstract] | |
Net Change In Operating Accounts | 14. 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) 2018 2017 2016 Change in assets: Other assets, net $ 10,364 $ (6,724 ) $ (3,551 ) Change in liabilities: Accounts payable and accrued expenses (4,133 ) (2,300 ) (2,309 ) Accrued real estate taxes 1,910 2,342 5,526 Other liabilities (1,486 ) (995 ) (2,361 ) Other 2,898 2,831 2,976 Change in operating accounts and other $ 9,553 $ (4,846 ) $ 281 |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | 15. Commitments and Contingencies Construction Contracts. As of December 31, 2018 , we estimate the additional cost to complete the six consolidated projects currently under construction to be approximately $335.2 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 facility or other short-term borrowing, the use of debt and equity offerings under our automatic shelf registration statement, proceeds from property dispositions, equity issued from our 2017 ATM program, other unsecured borrowings or secured mortgages. Litigation . We are 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, 2018 , we had $2.9 million in earnest money deposits of which $0.4 million is non-refundable for potential acquisitions of operating properties and land which are included in other assets, net in our consolidated balance sheet. Lease Commitments. At December 31, 2018 , we had long-term leases covering certain land, office facilities and equipment. Rental expense totaled approximately $3.8 million , $4.0 million , and $4.1 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. Minimum annual rental commitments for the years ending December 31, 2019 through 2023 are approximately $2.9 million , $3.0 million , $3.1 million , $2.7 million and $2.6 million , respectively, and approximately $4.5 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, 2018 , we had employment agreements with 13 of our senior officers, the terms of which expire at various times through August 20, 2019. 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. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Data [Abstract] | |
Quarterly Financial Data [Text Block] | 16. Quarterly Financial Data (unaudited) Summarized quarterly financial data for the years ended December 31, 2018 and 2017 , is as follows: (in thousands, except per share amounts) First Second Third Fourth Total (a) 2018: Revenues $ 230,683 $ 237,133 $ 241,770 $ 244,919 $ 954,505 Net income attributable to common shareholders 39,395 38,671 38,866 39,196 156,128 Net income attributable to common shareholders per share – basic 0.41 0.40 0.41 0.41 1.63 Net income attributable to common shareholders per share – diluted 0.41 0.40 0.40 0.41 1.63 2017: Revenues $ 219,521 $ 223,370 $ 228,178 $ 229,827 $ 900,896 Net income attributable to common shareholders 34,861 39,188 34,384 87,989 196,422 Net income attributable to common shareholders per share – basic 0.39 0.43 0.38 (b) 0.92 (c) 2.14 Net income attributable to common shareholders per share – diluted 0.39 0.43 0.38 (b) 0.91 (c) 2.13 (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 $4,987 , or $0.05 basic and diluted per share, impact related to expenses due to Hurricanes Harvey and Irma. (c) Includes a $43,231 , or $0.46 basic and $0.45 diluted per share, impact related to a gain on sale of one operating property. |
Schedule III - Real Estate and
Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2018 | |
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 Chandler $ 5,511 $ 62,429 $ 199 $ 5,511 $ 62,628 $ 68,139 $ 9,242 $ 58,897 2016 Camden Copper Square 4,825 23,672 7,892 4,825 31,564 36,389 19,107 17,282 2000 Camden Foothills 11,006 33,712 223 11,006 33,935 44,941 6,135 38,806 2014 Camden Hayden 9,248 35,254 150 9,248 35,404 44,652 5,812 38,840 2015 Camden Legacy 4,068 26,612 14,159 4,068 40,771 44,839 26,909 17,930 1998 Camden Montierra 13,687 31,727 5,671 13,687 37,398 51,085 9,289 41,796 2012 Camden Pecos Ranch 3,362 24,492 5,699 3,362 30,191 33,553 9,266 24,287 2012 Camden San Marcos 11,520 35,166 6,033 11,520 41,199 52,719 10,536 42,183 2012 Camden San Paloma 6,480 23,045 10,382 6,480 33,427 39,907 17,856 22,051 2002 Camden Sotelo 3,376 30,576 1,283 3,376 31,859 35,235 6,444 28,791 2013 CALIFORNIA Los Angeles/Orange County Camden Crown Valley 9,381 54,210 10,382 9,381 64,592 73,973 34,812 39,161 2001 Camden Glendale 21,492 96,158 331 21,492 96,489 117,981 13,770 104,211 2015 Camden Harbor View 16,079 127,459 23,253 16,079 150,712 166,791 66,559 100,232 $ 92,699 2003 Camden Main and Jamboree 17,363 75,387 2,335 17,363 77,722 95,085 20,949 74,136 45,895 2008 Camden Martinique 28,401 51,861 24,154 28,401 76,015 104,416 46,188 58,228 1998 Camden Sea Palms 4,336 9,930 7,641 4,336 17,571 21,907 9,667 12,240 1998 The Camden 18,286 118,730 215 18,286 118,945 137,231 13,137 124,094 2016 San Diego/Inland Empire Camden Landmark 17,339 71,315 2,977 17,339 74,292 91,631 17,087 74,544 2012 Camden Old Creek 20,360 71,777 9,093 20,360 80,870 101,230 28,800 72,430 2007 Camden Sierra at Otay Ranch 10,585 49,781 6,421 10,585 56,202 66,787 27,329 39,458 2003 Camden Tuscany 3,330 36,466 5,196 3,330 41,662 44,992 20,004 24,988 2003 Camden Vineyards 4,367 28,494 4,694 4,367 33,188 37,555 16,808 20,747 2002 COLORADO Denver Camden Belleview Station 8,091 44,003 3,404 8,091 47,407 55,498 10,391 45,107 2012 Camden Caley 2,047 17,445 7,020 2,047 24,465 26,512 13,931 12,581 15,349 2000 Camden Denver West 6,396 51,552 11,860 6,396 63,412 69,808 13,711 56,097 2012 Camden Flatirons $ 6,849 $ 72,631 $ 413 $ 6,849 $ 73,044 $ 79,893 $ 12,825 $ 67,068 2015 Camden Highlands Ridge 2,612 34,726 20,608 2,612 55,334 57,946 28,524 29,422 1996 Camden Interlocken 5,293 31,612 17,062 5,293 48,674 53,967 25,904 28,063 $ 27,426 1999 Camden Lakeway 3,915 34,129 23,002 3,915 57,131 61,046 31,405 29,641 29,262 1997 Camden Lincoln Station 4,648 51,762 86 4,648 51,848 56,496 5,015 51,481 2017 WASHINGTON DC METRO Camden Ashburn Farm 4,835 22,604 5,758 4,835 28,362 33,197 11,441 21,756 2005 Camden College Park 16,409 91,503 6,950 16,409 98,453 114,862 25,352 89,510 2008 Camden Dulles Station 10,807 61,548 5,558 10,807 67,106 77,913 22,346 55,567 2008 Camden Fair Lakes 15,515 104,223 13,204 15,515 117,427 132,942 48,905 84,037 2005 Camden Fairfax Corner 8,484 72,953 9,642 8,484 82,595 91,079 33,123 57,956 2006 Camden Fallsgrove 9,408 43,647 5,545 9,408 49,192 58,600 21,337 37,263 2005 Camden Grand Parc 7,688 35,900 2,981 7,688 38,881 46,569 15,927 30,642 2005 Camden Lansdowne 15,502 102,267 24,504 15,502 126,771 142,273 49,157 93,116 2005 Camden Largo Town Center 8,411 44,163 4,280 8,411 48,443 56,854 20,068 36,786 2005 Camden Monument Place 9,030 54,089 3,651 9,030 57,740 66,770 20,847 45,923 2007 Camden NoMa 19,442 82,306 274 19,442 82,580 102,022 17,430 84,592 2014 Camden NoMa II 17,331 91,211 39 17,331 91,250 108,581 12,378 96,203 2017 Camden Potomac Yard 16,498 88,317 8,265 16,498 96,582 113,080 31,907 81,173 2008 Camden Roosevelt 11,470 45,785 4,238 11,470 50,023 61,493 20,151 41,342 2005 Camden Russett 13,460 61,837 6,861 13,460 68,698 82,158 29,016 53,142 45,056 2005 Camden Shady Grove 24,177 89,820 30 24,177 89,850 114,027 9,404 104,623 2018 Camden Silo Creek 9,707 45,301 7,703 9,707 53,004 62,711 20,688 42,023 2005 Camden Washingtonian 13,512 73,285 — 13,512 73,285 86,797 2,532 84,265 2018 FLORIDA Southeast Florida Camden Aventura 12,185 47,616 13,055 12,185 60,671 72,856 27,617 45,239 2005 Camden Boca Raton 2,201 50,057 268 2,201 50,325 52,526 8,742 43,784 2014 Camden Brickell 14,621 57,031 23,217 14,621 80,248 94,869 32,025 62,844 2005 Camden Doral 10,260 40,416 7,542 10,260 47,958 58,218 20,465 37,753 2005 Camden Doral Villas 6,476 25,543 7,590 6,476 33,133 39,609 14,881 24,728 2005 Camden Las Olas 12,395 79,518 19,634 12,395 99,152 111,547 39,655 71,892 2005 Camden Plantation 6,299 77,964 11,402 6,299 89,366 95,665 38,047 57,618 2005 Camden Portofino 9,867 38,702 9,382 9,867 48,084 57,951 20,170 37,781 2005 Orlando Camden Hunter's Creek $ 4,156 $ 20,925 $ 5,769 $ 4,156 $ 26,694 $ 30,850 $ 12,172 $ 18,678 2005 Camden Lago Vista 3,497 29,623 6,033 3,497 35,656 39,153 15,582 23,571 2005 Camden LaVina 12,907 42,617 1,036 12,907 43,653 56,560 12,072 44,488 2012 Camden Lee Vista 4,350 34,643 8,524 4,350 43,167 47,517 24,338 23,179 2000 Camden North Quarter 9,990 68,471 742 9,990 69,213 79,203 3,641 75,562 2018 Camden Orange Court 5,319 40,733 3,300 5,319 44,033 49,352 15,681 33,671 2008 Camden Thornton Park 11,711 74,628 137 11,711 74,765 86,476 1,155 85,321 2018 Camden Town Square 13,127 45,997 833 13,127 46,830 59,957 11,711 48,246 2012 Camden World Gateway 5,785 51,821 8,348 5,785 60,169 65,954 25,433 40,521 2005 Tampa/St. Petersburg Camden Bay 7,450 63,283 15,072 7,450 78,355 85,805 43,641 42,164 1998/2002 Camden Montague 3,576 16,534 472 3,576 17,006 20,582 4,849 15,733 2012 Camden Pier District 16,704 105,383 851 16,704 106,234 122,938 6,025 116,913 2018 Camden Preserve 1,206 17,982 8,795 1,206 26,777 27,983 17,337 10,646 1997 Camden Royal Palms 2,147 38,339 3,905 2,147 42,244 44,391 15,779 28,612 2007 Camden Westchase Park 11,955 36,254 609 11,955 36,863 48,818 9,560 39,258 2012 GEORGIA Atlanta Camden Brookwood 7,174 31,984 8,835 7,174 40,819 47,993 18,783 29,210 2005 Camden Buckhead Square 13,200 43,785 657 13,200 44,442 57,642 2,928 54,714 2017 Camden Creekstone 5,017 19,912 5,148 5,017 25,060 30,077 5,804 24,273 2012 Camden Deerfield 4,895 21,922 8,376 4,895 30,298 35,193 13,970 21,223 2005 Camden Dunwoody 5,290 23,642 9,038 5,290 32,680 37,970 15,425 22,545 2005 Camden Fourth Ward 10,477 51,258 1,148 10,477 52,406 62,883 9,468 53,415 2014 Camden Midtown Atlanta 6,196 33,828 10,645 6,196 44,473 50,669 19,631 31,038 2005 Camden Paces 15,262 102,521 828 15,262 103,349 118,611 17,913 100,698 2015 Camden Peachtree City 6,536 29,063 7,636 6,536 36,699 43,235 16,374 26,861 2005 Camden Shiloh 4,181 18,798 5,972 4,181 24,770 28,951 11,595 17,356 10,565 2005 Camden St. Clair 7,526 27,486 8,010 7,526 35,496 43,022 16,859 26,163 2005 Camden Stockbridge 5,071 22,693 4,859 5,071 27,552 32,623 12,396 20,227 2005 Camden Vantage 11,787 68,822 3,747 11,787 72,569 84,356 15,103 69,253 2013 NORTH CAROLINA Charlotte Camden Ballantyne $ 4,503 $ 30,250 $ 9,067 $ 4,503 $ 39,317 $ 43,820 $ 18,565 $ 25,255 2005 Camden Cotton Mills 4,246 19,147 6,703 4,246 25,850 30,096 12,629 17,467 2005 Camden Dilworth 516 16,633 2,568 516 19,201 19,717 8,067 11,650 2006 Camden Fairview 1,283 7,223 4,327 1,283 11,550 12,833 6,188 6,645 2005 Camden Foxcroft 1,408 7,919 4,620 1,408 12,539 13,947 6,588 7,359 2005 Camden Foxcroft II 1,152 6,499 3,216 1,152 9,715 10,867 4,603 6,264 2005 Camden Gallery 7,930 51,957 114 7,930 52,071 60,001 6,141 53,860 2017 Camden Grandview 7,570 33,859 11,922 7,570 45,781 53,351 20,152 33,199 2005 Camden Sedgebrook 5,266 29,211 7,723 5,266 36,934 42,200 17,475 24,725 2005 Camden South End 6,625 29,175 11,276 6,625 40,451 47,076 17,595 29,481 2005 Camden Stonecrest 3,941 22,021 6,451 3,941 28,472 32,413 13,817 18,596 2005 Camden Touchstone 1,203 6,772 3,528 1,203 10,300 11,503 5,406 6,097 2005 Raleigh Camden Crest 4,412 31,108 6,773 4,412 37,881 42,293 16,333 25,960 2005 Camden Governor's Village 3,669 20,508 6,291 3,669 26,799 30,468 11,585 18,883 2005 Camden Lake Pine 5,746 31,714 13,579 5,746 45,293 51,039 20,048 30,991 2005 Camden Manor Park 2,535 47,159 8,835 2,535 55,994 58,529 21,551 36,978 2006 Camden Overlook 4,591 25,563 9,781 4,591 35,344 39,935 17,017 22,918 2005 Camden Reunion Park 3,302 18,457 10,791 3,302 29,248 32,550 12,781 19,769 2005 Camden Westwood 4,567 25,519 9,062 4,567 34,581 39,148 14,891 24,257 2005 TEXAS Austin Camden Cedar Hills 2,684 20,931 2,072 2,684 23,003 25,687 8,336 17,351 2008 Camden Gaines Ranch 5,094 37,100 10,344 5,094 47,444 52,538 21,613 30,925 2005 Camden Huntingdon 2,289 17,393 10,470 2,289 27,863 30,152 19,185 10,967 1995 Camden La Frontera 3,250 32,376 363 3,250 32,739 35,989 6,210 29,779 2015 Camden Lamar Heights 3,988 42,773 356 3,988 43,129 47,117 8,103 39,014 2015 Camden Stoneleigh 3,498 31,285 8,478 3,498 39,763 43,261 17,559 25,702 2006 Corpus Christi Camden Breakers 1,055 13,024 14,405 1,055 27,429 28,484 15,973 12,511 1996 Camden Copper Ridge 1,204 9,180 9,511 1,204 18,691 19,895 15,730 4,165 1993 Dallas/Fort Worth Camden Addison 11,516 29,332 8,262 11,516 37,594 49,110 11,925 37,185 2012 Camden Belmont $ 12,521 $ 61,522 $ 5,312 $ 12,521 $ 66,834 $ 79,355 $ 15,342 $ 64,013 2012 Camden Buckingham 2,704 21,251 10,705 2,704 31,956 34,660 20,173 14,487 1997 Camden Centreport 1,613 12,644 6,659 1,613 19,303 20,916 12,044 8,872 1997 Camden Cimarron 2,231 14,092 8,020 2,231 22,112 24,343 15,848 8,495 1997 Camden Farmers Market 17,341 74,193 22,213 17,341 96,406 113,747 49,780 63,967 $ 50,704 2001/2005 Camden Henderson 3,842 15,256 648 3,842 15,904 19,746 4,154 15,592 2012 Camden Legacy Creek 2,052 12,896 6,786 2,052 19,682 21,734 13,325 8,409 1997 Camden Legacy Park 2,560 15,449 8,070 2,560 23,519 26,079 15,528 10,551 13,864 1997 Camden Valley Park 3,096 14,667 15,344 3,096 30,011 33,107 28,118 4,989 1994 Camden Victory Park 13,445 71,735 158 13,445 71,893 85,338 9,086 76,252 2016 Houston Camden City Centre 4,976 44,735 3,853 4,976 48,588 53,564 18,081 35,483 33,790 2007 Camden City Centre II 5,101 28,131 426 5,101 28,557 33,658 7,514 26,144 2013 Camden Greenway 16,916 43,933 20,313 16,916 64,246 81,162 39,943 41,219 1999 Camden Holly Springs 11,108 42,852 12,030 11,108 54,882 65,990 16,527 49,463 2012 Camden McGowen Station 6,089 84,649 — 6,089 84,649 90,738 3,443 87,295 2018 Camden Midtown 4,583 18,026 10,559 4,583 28,585 33,168 18,258 14,910 28,054 1999 Camden Oak Crest 2,078 20,941 5,890 2,078 26,831 28,909 13,922 14,987 2003 Camden Park 4,922 16,453 6,030 4,922 22,483 27,405 6,789 20,616 2012 Camden Plaza 7,204 31,044 2,452 7,204 33,496 40,700 9,188 31,512 19,357 2007 Camden Post Oak 14,056 92,515 18,434 14,056 110,949 125,005 22,852 102,153 2013 Camden Royal Oaks 1,055 20,046 2,839 1,055 22,885 23,940 9,387 14,553 2006 Camden Royal Oaks II 587 12,743 25 587 12,768 13,355 3,457 9,898 2012 Camden Stonebridge 1,016 7,137 6,717 1,016 13,854 14,870 9,384 5,486 1993 Camden Sugar Grove 7,614 27,594 4,251 7,614 31,845 39,459 8,428 31,031 2012 Camden Travis Street 1,780 29,104 1,284 1,780 30,388 32,168 10,120 22,048 2010 Camden Vanderbilt 16,076 44,918 25,144 16,076 70,062 86,138 47,043 39,095 73,155 1994/1997 Camden Whispering Oaks 1,188 26,242 1,711 1,188 27,953 29,141 10,392 18,749 2008 Total current communities: $ 1,083,532 $ 5,865,522 $ 979,497 $ 1,083,532 $ 6,845,019 $ 7,928,551 $ 2,400,440 $ 5,528,111 $ 485,176 Communities under construction: Name / location Camden North End I (1) $ 95,865 $ 95,865 $ 95,865 $ 2,596 $ 93,269 N/A Camden Grandview II (1) 21,267 21,267 21,267 113 21,154 N/A Camden RiNo 41,594 41,594 41,594 41,594 N/A Camden Downtown I 58,963 58,963 58,963 58,963 N/A Camden Lake Eola 34,016 34,016 34,016 34,016 N/A Camden Buckhead 26,073 26,073 26,073 26,073 N/A Total communities under construction: $ — $ 277,778 $ — $ — $ 277,778 $ 277,778 $ 2,709 $ 275,069 $ — Development pipeline communities: Name/location Camden North End II $ 15,301 $ 15,301 $ 15,301 $ 15,301 N/A Camden Hillcrest 28,853 28,853 28,853 28,853 N/A Camden Atlantic 16,666 16,666 16,666 16,666 N/A Camden Arts District 21,471 21,471 21,471 21,471 N/A Camden Paces III 14,632 14,632 14,632 14,632 N/A Camden Downtown II 10,719 10,719 10,719 10,719 N/A Total development pipeline communities: $ — $ 107,642 $ — $ — $ 107,642 $ 107,642 $ — $ 107,642 $ — Corporate 14,504 — 14,504 14,504 14,504 N/A $ — $ 14,504 $ — $ — $ 14,504 $ 14,504 $ — $ 14,504 $ — TOTAL $ 1,083,532 $ 6,265,446 $ 979,497 $ 1,083,532 $ 7,244,943 $ 8,328,475 $ 2,403,149 $ 5,925,326 $ 485,176 (1) Properties are in lease-up at December 31, 2018 . Balances presented here includes costs which are included in buildings and improvements and land on the consolidated balance sheet at December 31, 2018 . These costs related to completed unit turns for these properties. Camden Property Trust Real Estate and Accumulated Depreciation As of December 31, 2018 (in thousands) Schedule III The changes in total real estate assets as adjusted for discontinued operations for the years ended December 31: 2018 2017 2016 Balance, beginning of period $ 7,667,743 $ 7,376,690 $ 7,387,597 Additions during period: Acquisition of operating properties 286,901 56,985 — Development and repositions 300,294 224,202 278,447 Improvements 84,841 71,889 65,892 Deductions during period: Cost of real estate sold – other (11,304 ) (62,023 ) (355,246 ) Balance, end of period $ 8,328,475 $ 7,667,743 $ 7,376,690 The changes in accumulated depreciation for the years ended December 31: 2018 2017 2016 Balance, beginning of period $ 2,118,839 $ 1,890,656 $ 1,780,694 Depreciation of real estate assets 284,310 255,924 243,403 Dispositions — (27,741 ) (133,441 ) Balance, end of period $ 2,403,149 $ 2,118,839 $ 1,890,656 The aggregate cost for federal income tax purposes at December 31, 2018 was $7.5 billion . |
Schedule IV - Mortgage Loans on
Schedule IV - Mortgage Loans on Real Estate | 12 Months Ended |
Dec. 31, 2018 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] | |
Schedule IV - Mortgage Loans on Real Estate [Text Block] | Camden Property Trust As of December 31, 2018 Schedule IV ($ in thousands) Description Interest Rate Final Maturity Date Periodic payment terms Face amount of mortgages Carry amount of mortgages (a) Parking Garage Developer advances Houston, TX (b) October 1, 2025 (c) $ 9,314 $ 9,314 (a) The aggregate cost at December 31, 2018 for federal income tax purposes was approximately $9,314 . (b) This loan currently bears interest at 4% and will increase to 7% on any unpaid principal balance on January 1, 2019 with the completion of our planned apartment project at an adjacent location. (c) Payments will consist of annual interest and principal payments from October 1, 2018 to October 1, 2025 . Changes in mortgage loans for the years ended December 31 are summarized below: 2018 2017 2016 Balance, beginning of period $ 18,790 $ 17,224 $ 13,161 Additions: Advances under real estate loans — 1,566 7,458 Deductions: Collections of principal and loan payoff (9,476 ) — (3,395 ) Balance, end of period $ 9,314 $ 18,790 $ 17,224 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
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. In determining if we have a controlling financial interest, we consider factors such as ownership interests, authority to make decisions, kick-out rights and participating rights. |
Acquisitions of Real Estate | 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. 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 in-place leases are included in other assets, net and the net carrying value of above or below market leases are included in other liabilities, net in our condensed consolidated balance sheets. During the year ended December 31, 2018 and 2017 , we recognized amortization expense of approximately $9.4 million and $1.3 million , respectively, related to in-place leases. We recognized revenue of approximately $0.2 million related to net below market leases for the year ended December 31, 2018 , and did not recognize any revenue related to net below market leases for the year ended December 31, 2017 . During the year ended December 31, 2018 , the weighted average amortization periods for in-place and net below market leases were approximately seven months and five months , respectively. During the year ended December 31, 2017 , the weighted average amortization period for in-place leases was approximately six months. We did not recognize any revenue or amortization expense related to below market or in-place leases for the year ended December 31, 2016. |
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 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, 2018 , 2017 , or 2016 . 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, Cash Equivalents, and Short-term Investments | 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 certain carrying costs are capitalized and reported in the balance sheet as properties under development until the apartment homes are substantially completed. As apartment homes within development properties are completed, the total capitalized development cost of each apartment home is transferred from properties under development including land to buildings and improvements. As discussed above, carrying charges are principally interest and real estate taxes capitalized as part of properties under development. Capitalized interest was approximately $13.6 million , $15.2 million , and $18.2 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. Capitalized real estate taxes were approximately $2.2 million , $2.4 million , and $4.5 million for the years ended December 31, 2018 , 2017 , and 2016 , 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. 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 |
Derivative Financial Instruments | Derivative Financial Instruments. Derivative financial instruments are recorded in the consolidated balance sheets at fair value and we do not apply master netting for financial reporting purposes. Accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows or other types of forecasted transactions are cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes attributable to the earnings effect of the hedged transactions. We may enter into derivative contracts which are intended to economically hedge certain of our risks, for which hedge accounting does not apply or we elect not to apply hedge accounting. |
Discontinued Operations | Discontinued Operations . A property is classified as a discontinued operation when the disposal represents a strategic shift, such as disposal of a major line of business, a major geographical area or a major equity investment. 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. Consolidated operating properties sold or classified as held for sale, which do not meet the above criteria of discontinued operations are not included in discontinued operations and the related gains and losses are included in continuing operations. 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. See Note 8, "Acquisitions, Dispositions, and Discontinued Operations," for discussion of discontinued operations for the year ended December 31, 2016. |
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 following describes the valuation methodologies we use to measure different financial instruments at fair value on a recurring basis: Deferred Compensation Plan Investments. The estimated fair values of investment securities classified as deferred compensation plan investments are based on quoted market prices utilizing public information for the same transactions. Our deferred compensation plan investments are recorded in other assets in our consolidated balance sheets. The inputs associated with the valuation of our recurring deferred compensation plan investments are included in Level 1 of the fair value hierarchy. Derivative Financial Instruments. The estimated fair values of derivative financial instruments are valued using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and volatility. The fair values of interest rate swaps and caps are estimated using the market-standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit enhancements to the contracts, are incorporated in the fair values to account for potential nonperformance risk, including our own nonperformance risk and the respective counterparty’s nonperformance risk. The fair value of interest rate caps is determined using the market-standard methodology of discounting the future expected cash receipts which would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observed market interest rate curves and volatilities. Although we have determined the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default. However, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined our derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. 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. Long-lived assets such as the land, real estate asset, and in-place leases acquired with an operating property are measured in the form of cash received unless otherwise noted. These assets 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, 2018 and 2017 , the carrying values of cash and cash equivalents, short-term investments, 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 revenue is recognized on a straight-line basis and other property revenue is recorded when due from residents and is recognized 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 twelve 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. See Note 3, "Revenues," for further discussion. 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. As of December 31, 2018 , we reclassified certain insignificant amounts within investing activities which had no impact on our consolidated statements of cash flows for the years ended December 31, 2017 and 2016 . |
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, 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 12, “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. Notes Receivable. We have one note receivable included in Other assets, net in our consolidated balance sheets, relating to a real estate secured loan to an unaffiliated third party. During 2018, we received payments of approximately $9.5 million in principal and approximately $0.5 million in interest on this note which matures on October 1, 2025. At December 31, 2018 and 2017 , the outstanding note receivable balance was approximately $9.3 million and $18.8 million , respectively, and the weighted average interest rate was approximately 4.0% for each of the years ended December 31, 2018 and 2017 . Interest is recognized over the life of the note 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, and 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, 2018 or 2017 . |
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, 2018 , 2017 , and 2016 . |
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 and is adjusted as actual forfeitures occur. |
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 October 2018, the Financial Accounting Standards Board ("FASB") issue d Accounting Standards Update 2018-16 ("ASU 2018-16"), "Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes." ASU 2018-16 permits the use of the overnight index swap rate based on the Secured Overnight Financing Rate to be used as a U.S. benchmark interest rate for hedge accounting purposes. ASU 2018-16 is effective for public entities which have already adopted ASU 2017-12 beginning after December 31, 2018. Since we already adopted ASU 2017-12, we adopted ASU 2018-16 as of January 1, 2019 with no impact on our existing hedges. We will consider these changes for qualifying new or redesignated hedging relationships entered into in the future. In August 2018, the FASB issued ASU 2018-15 "Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." ASU 2018-15 clarifies certain implementation costs relating to a cloud computing arrangement which is considered to be a service contract should be capitalized as if the arrangement was an internal-use software project. The standard also requires costs associated with an implementation to be classified where the fees are recorded in financial statements for such arrangements. ASU 2018-15 is effective for interim and annual periods beginning after December 15, 2019, and early adoption is permitted. This standard may be applied using the prospective transition method which is applicable to service contracts entered, renewed, or materially modified after the effective date or the retrospective transition method which allows us to recognize a cumulative effect adjustment to the opening balance of retained earnings, if any, as of the adoption date. We anticipate adopting ASU 2018-15 as of January 1, 2020, using the retrospective transition method and we do not expect our adoption to have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-13 " Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. " ASU 2018-13 removes, modifies, and adds certain fair value disclosure requirements including (i) the removal of disclosures regarding amounts, reasons, and timing for transfers between Levels 1 and 2 as well as descriptions of valuation processes used for Level 3 measurements of the fair value hierarchy; (ii) the modification of disclosures for the timing of liquidation of investee assets; (iii) the clarification of the narrative description of the measurement uncertainty of Level 3 fair value measurements at the reporting date does not need to include sensitivity of future changes; (iv) the addition of disclosures related to changes in unrealized gains and losses in other comprehensive income for recurring Level 3 fair value measurements to also be included in the statement of comprehensive income; and (v) the addition of disclosures for the range and weighted average of significant unobservable inputs. ASU 2018-13 is effective January 1, 2020 for the additional disclosures and early adoption of the removal and amended disclosures is allowed. We expect to adopt ASU 2018-13 as of January 1, 2020 and do not expect the adoption to have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 "Revenue from Contracts with Customers." ASU 2014-09 prescribes a single, common revenue standard to replace most existing revenue recognition guidance in GAAP, including most industry-specific requirements. The standard outlines a five-step model whereby revenue is recognized as performance obligations within a contract are satisfied. Several ASUs intended to promote a more consistent interpretation and application of the principles outlined in the standard have been issued since the issuance of ASU 2014-09 which modify certain sections of the new revenue recognition standard. We adopted ASU 2014-09 and all related amendments effective January 1, 2018 using the modified retrospective with cumulative effect transition method. This method requires us to recognize the cumulative effect of initially applying the new revenue standard as an adjustment, if any, to the opening balance of retained earnings, which had no impact on our consolidated financial statements upon adoption. See Note 3, "Revenues," for additional disclosures required by the ASU. In February 2016, the FASB issued ASU 2016-02, "Leases." ASU 2016-02 supersedes the current accounting for leases. The new lease standard retains three distinct types of leases which are similar to existing guidance for lessors: operating, sales-type, and financing, and aligns many of the underlying lessor model principles with those in the new revenue standard. For lessees, the new lease standard retains two distinct types of leases, finance and operating; and (i) requires lessees to record a right of use asset and a related liability for the rights and obligations associated with a lease, regardless of lease classification, and recognize lease expense in a manner similar to current accounting and (ii) eliminates most real estate specific lease provisions. We adopted ASU 2016-02 and its related amendments as of January 1, 2019 using the transition practical expedient which allows us to recognize a cumulative-effect adjustment to the opening balance of retained earnings as of the adoption date as well as other elected practical expedients. We have identified our lease commitments and finalized our evaluation on our consolidated financial statements and on our internal accounting processes. Substantially all of our real estate lessor commitments will continue to be accounted for as operating leases and the new leasing standard will not have a material impact on rental revenues. Our lessee operating lease commitments are subject to the standard and recognized as operating lease liabilities and right-of-use assets upon adoption. Our adoption of the new leasing standard will not have a material impact on our consolidated financial statements. Upon our adoption of ASU 2016-02 as of January 1, 2019, we will increase lease liabilities by approximately $16.6 million along with a corresponding right-of-use assets on our consolidated balance sheet, and this ASU will not have any impact on our consolidated statement of income upon adoption. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
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, 2018 | |
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) 2018 2017 2016 Earnings per common share calculation – basic Income from continuing operations attributable to common shareholders $ 156,128 $ 196,422 $ 436,981 Amount allocated to participating securities (1,107 ) (660 ) (6,304 ) Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities $ 155,021 $ 195,762 $ 430,677 Discontinued operations, including gain on sale, attributable to common shareholders — — 382,842 Net income attributable to common shareholders – basic $ 155,021 $ 195,762 $ 813,519 Earnings per common share from continuing operations $ 1.63 $ 2.14 $ 4.81 Earnings per common share from discontinued operations — — 4.27 Total earnings per common share – basic $ 1.63 $ 2.14 $ 9.08 Weighted average number of common shares outstanding – basic 95,208 91,499 89,580 Year Ended December 31, (in thousands, except per share amounts) 2018 2017 2016 Earnings per common share calculation – diluted Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities $ 155,021 $ 195,762 $ 430,677 Income allocated to common units from continuing operations — 1,174 — Income from continuing operations attributable to common shareholders, as adjusted $ 155,021 $ 196,936 $ 430,677 Discontinued operations, including gain on sale, attributable to common shareholders — — 382,842 Net income attributable to common shareholders – diluted $ 155,021 $ 196,936 $ 813,519 Earnings per common share from continuing operations $ 1.63 $ 2.13 $ 4.79 Earnings per common share from discontinued operations — — 4.26 Total earnings per common share – diluted $ 1.63 $ 2.13 $ 9.05 Weighted average number of common shares outstanding – basic 95,208 91,499 89,580 Incremental shares issuable from assumed conversion of: Common share options and share awards granted 158 211 323 Common units — 805 — Weighted average number of common shares outstanding – diluted 95,366 92,515 89,903 |
Common Shares (Tables)
Common Shares (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Two thousand fourteen ATM program [Domain] | |
Activity Under At-The-Market Share Offering Program | The following table presents activity under the 2017 ATM program for the year ended December 31, 2017: (in thousands, except per share amounts) Year Ended December 31, 2017 Total net consideration $ 2,513.6 Common shares sold 28.1 Average price per share $ 90.44 |
Income Taxes Income Taxes (Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 , 2017 and 2016 is set forth in the following table: Year Ended December 31, 2018 2017 2016 Common Share Distributions Ordinary income $ 2.99 $ 2.38 $ — Long-term capital gain 0.09 0.41 5.02 Unrecaptured Sec. 1250 gain — 0.21 2.23 Total $ 3.08 $ 3.00 $ 7.25 |
Acquisitions, Dispositions, I_2
Acquisitions, Dispositions, Impairment, and Discontinued operations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following is a summary of income from discontinued operations for the year ended December 31, 2016 relating to the 15 operating properties and the retail center sold in April 2016: Year Ended December 31, (in thousands) 2016 Property revenues $ 19,184 Property expenses (6,898 ) $ 12,286 Property management expense (242 ) Depreciation and amortization (4,327 ) Income tax expense (112 ) Income from discontinued operations $ 7,605 Gain on sale of discontinued operations, net of tax $ 375,237 |
Investments In Joint Ventures (
Investments In Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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) 2018 2017 Total assets $ 695.2 $ 715.9 Total third-party debt 510.7 514.5 Total equity 158.4 174.5 2018 2017 2016 Total revenues $ 127.4 $ 121.9 $ 119.8 Net income (1) 16.4 13.5 14.8 Equity in income (2) (3) 7.8 6.8 7.1 (1) Net income for the years ended December 31, 2017 includes approximately $1.3 million of property expense, respectively, relating to Hurricanes Harvey and Irma in the third quarter of 2017. (2) Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds. (3) Equity in income for the years ended December 31, 2017 includes our ownership interest of the hurricane related recoveries and expenses of approximately $0.4 million , respectively. |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Payable [Abstract] | |
Summary Of Indebtedness | The following is a summary of our indebtedness: December 31, (in millions) 2018 2017 Commercial banks Term loan, due 2022 $ 99.6 $ — Senior unsecured notes ( 1 ) 4.78% Notes, due 2021 $ 249.1 $ 248.7 3.15% Notes, due 2022 347.3 346.6 5.07% Notes, due 2023 248.0 247.6 4.36% Notes, due 2024 248.7 248.5 3.68% Notes, due 2024 247.6 247.2 3.74% Notes, due 2028 396.1 — $ 1,736.8 $ 1,338.6 Total unsecured notes payable $ 1,836.4 $ 1,338.6 Secured notes ( 1 ) 4.38% – 5.33% Conventional Mortgage Notes, due 2019 – 2045 485.2 866.0 Total notes payable $ 2,321.6 $ 2,204.6 Floating rate debt included in unsecured notes (3.34%) $ 99.6 $ — Floating rate debt included in secured notes (1.92%) $ — $ 175.0 Value of real estate assets, at cost, subject to secured notes $ 867.9 $ 1,534.9 (1) Unamortized debt discounts and debt issuance costs of $13.9 million and $12.3 million are included in senior unsecured and secured notes payable as of December 31, 2018 and 2017 , 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, 2018 : (in millions) Amount Weighted Average Interest Rate 2019 $ 437.3 5.2 % 2020 (1) (1.9 ) — 2021 248.5 4.8 2022 448.8 3.2 2023 249.8 5.1 Thereafter 939.1 3.9 Total $ 2,321.6 4.2 % (1) Includes only amortization of debt discounts and debt issuance costs, net of scheduled principal payments. Subsequent to December 31, 2018, we repaid $200.0 million of secured notes utilizing our unsecured credit facility. |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Fair Value [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The table below presents the fair value of our derivative financial instruments as well as their classification in the consolidated balance sheets at December 31, 2018 and 2017: Asset Derivatives Liability Derivatives December 31, 2018 (1) December 31, 2017 December 31, 2018 (1) December 31, 2017 (in millions) Balance Sheet Fair Balance Sheet Fair Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedging instruments Interest Rate Swaps Other Assets $ — Other Assets $ 2.2 Other Liabilities $ 7.4 Other Liabilities $ 0.5 (1) The derivatives subject to master netting arrangements are presented on a gross basis on our condensed consolidated balance sheet as of December 31, 2018 . There were no derivative contracts in a master netting arrangement as of December 31, 2018 and 2017. |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | The table below presents the effect of our derivative financial instruments in the consolidated statements of income and comprehensive income for the year ended December 31, 2018 and 2017: (in millions) Unrealized Gain Recognized in Other Location of Gain Amount of Gain Derivatives in Cash Flow Hedging Relationships 2018 2017 2018 2017 Interest Rate Swaps $ 6.8 $ 1.7 Interest expense $ 0.4 $ — |
Share-Based Compensation and _2
Share-Based Compensation and Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Share-based Compensation [Abstract] | |
Summary Of Share Incentive Plans | A summary of activity under our share incentive plans for the year ended December 31, 2018 is shown below: 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, 2017 68,978 $ 61.15 499,898 $ 75.80 Granted 9,994 78.55 232,478 82.81 Exercised/Vested (78,972 ) 63.35 (316,668 ) 75.66 Forfeited — — (25,027 ) 79.83 Total options and nonvested share awards outstanding at December 31, 2018 — $ — 390,681 $ 79.82 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended Year Ended Year Ended December 31, 2016 Weighted average fair value of options granted $4.11 $5.25 $6.71 Expected volatility 15.1% 18.9% 18.0% Risk-free interest rate 2.0% 1.3% 0.9% Expected dividend yield 3.3% 5.5% 3.8% Expected life 1 year 2 years 3 years |
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block] | The following table presents information related to our ESPP: 2018 2017 2016 Shares purchased 15,330 18,986 20,797 Weighted average fair value of shares purchased $ 90.93 $ 89.89 $ 82.33 Expense recorded (in millions) $ 0.2 $ 0.3 $ 0.4 |
Temporary Equity [Table Text Block] | The following table summarizes the eligible share award activity for the twelve months ended December 31: (in thousands) 2018 2017 Temporary equity: Balance at inception/beginning of period $ 77,230 $ 77,037 Change in classification 16,407 13,388 Change in redemption value (669 ) 10,038 Diversification of share awards (429 and 261 shares during December 31, 2018 and 2017, respectively) (40,294 ) (23,233 ) Balance at December 31 $ 52,674 $ 77,230 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 and 2017 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, 2018 December 31, 2017 (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 Other Assets Deferred compensation plan investments (1) $ 144.7 $ — $ — $ 144.7 $ 120.3 $ — $ — $ 120.3 Derivative financial instruments - forward interest rate swap — — — — — 2.2 — 2.2 Other Liabilities Derivative financial instruments - forward interest rate swaps $ — $ 7.4 $ — $ 7.4 $ — $ 0.5 $ — $ 0.5 (1) Approximately $12.7 million and $4.2 million of participant cash was withdrawn from our deferred compensation plan investments during the years ended December 31, 2018 and 2017 , respectively. Approximately $40.3 million and $23.2 million of shares within the deferred compensation plan were diversified into other deferred compensation plan investments during the years ended December 31, 2018 and 2017, respectively. |
Fair Value Of Notes Payable | The following table presents the carrying and estimated fair values of our notes payable at December 31, 2018 and 2017 , in accordance with the policies discussed in Note 2, "Summary of Significant Accounting Policies and Recent Accounting Pronouncements." December 31, 2018 December 31, 2017 (in millions) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Fixed rate notes payable $ 2,222.0 $ 2,265.4 $ 2,029.6 $ 2,106.5 Floating rate notes payable 99.6 99.4 175.0 173.7 |
Net Change In Operating Accou_2
Net Change In Operating Accounts (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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) 2018 2017 2016 Change in assets: Other assets, net $ 10,364 $ (6,724 ) $ (3,551 ) Change in liabilities: Accounts payable and accrued expenses (4,133 ) (2,300 ) (2,309 ) Accrued real estate taxes 1,910 2,342 5,526 Other liabilities (1,486 ) (995 ) (2,361 ) Other 2,898 2,831 2,976 Change in operating accounts and other $ 9,553 $ (4,846 ) $ 281 |
Quarterly Financial Data (Una_2
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Data [Abstract] | |
Schedule of Quarterly Financial Data [Table Text Block] | Summarized quarterly financial data for the years ended December 31, 2018 and 2017 , is as follows: (in thousands, except per share amounts) First Second Third Fourth Total (a) 2018: Revenues $ 230,683 $ 237,133 $ 241,770 $ 244,919 $ 954,505 Net income attributable to common shareholders 39,395 38,671 38,866 39,196 156,128 Net income attributable to common shareholders per share – basic 0.41 0.40 0.41 0.41 1.63 Net income attributable to common shareholders per share – diluted 0.41 0.40 0.40 0.41 1.63 2017: Revenues $ 219,521 $ 223,370 $ 228,178 $ 229,827 $ 900,896 Net income attributable to common shareholders 34,861 39,188 34,384 87,989 196,422 Net income attributable to common shareholders per share – basic 0.39 0.43 0.38 (b) 0.92 (c) 2.14 Net income attributable to common shareholders per share – diluted 0.39 0.43 0.38 (b) 0.91 (c) 2.13 (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 $4,987 , or $0.05 basic and diluted per share, impact related to expenses due to Hurricanes Harvey and Irma. (c) Includes a $43,231 , or $0.46 basic and $0.45 diluted per share, impact related to a gain on sale of one operating property. |
Schedule III - Real Estate an_2
Schedule III - Real Estate and Accumulated Depreciation (Summary) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in 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 Chandler $ 5,511 $ 62,429 $ 199 $ 5,511 $ 62,628 $ 68,139 $ 9,242 $ 58,897 2016 Camden Copper Square 4,825 23,672 7,892 4,825 31,564 36,389 19,107 17,282 2000 Camden Foothills 11,006 33,712 223 11,006 33,935 44,941 6,135 38,806 2014 Camden Hayden 9,248 35,254 150 9,248 35,404 44,652 5,812 38,840 2015 Camden Legacy 4,068 26,612 14,159 4,068 40,771 44,839 26,909 17,930 1998 Camden Montierra 13,687 31,727 5,671 13,687 37,398 51,085 9,289 41,796 2012 Camden Pecos Ranch 3,362 24,492 5,699 3,362 30,191 33,553 9,266 24,287 2012 Camden San Marcos 11,520 35,166 6,033 11,520 41,199 52,719 10,536 42,183 2012 Camden San Paloma 6,480 23,045 10,382 6,480 33,427 39,907 17,856 22,051 2002 Camden Sotelo 3,376 30,576 1,283 3,376 31,859 35,235 6,444 28,791 2013 CALIFORNIA Los Angeles/Orange County Camden Crown Valley 9,381 54,210 10,382 9,381 64,592 73,973 34,812 39,161 2001 Camden Glendale 21,492 96,158 331 21,492 96,489 117,981 13,770 104,211 2015 Camden Harbor View 16,079 127,459 23,253 16,079 150,712 166,791 66,559 100,232 $ 92,699 2003 Camden Main and Jamboree 17,363 75,387 2,335 17,363 77,722 95,085 20,949 74,136 45,895 2008 Camden Martinique 28,401 51,861 24,154 28,401 76,015 104,416 46,188 58,228 1998 Camden Sea Palms 4,336 9,930 7,641 4,336 17,571 21,907 9,667 12,240 1998 The Camden 18,286 118,730 215 18,286 118,945 137,231 13,137 124,094 2016 San Diego/Inland Empire Camden Landmark 17,339 71,315 2,977 17,339 74,292 91,631 17,087 74,544 2012 Camden Old Creek 20,360 71,777 9,093 20,360 80,870 101,230 28,800 72,430 2007 Camden Sierra at Otay Ranch 10,585 49,781 6,421 10,585 56,202 66,787 27,329 39,458 2003 Camden Tuscany 3,330 36,466 5,196 3,330 41,662 44,992 20,004 24,988 2003 Camden Vineyards 4,367 28,494 4,694 4,367 33,188 37,555 16,808 20,747 2002 COLORADO Denver Camden Belleview Station 8,091 44,003 3,404 8,091 47,407 55,498 10,391 45,107 2012 Camden Caley 2,047 17,445 7,020 2,047 24,465 26,512 13,931 12,581 15,349 2000 Camden Denver West 6,396 51,552 11,860 6,396 63,412 69,808 13,711 56,097 2012 Camden Flatirons $ 6,849 $ 72,631 $ 413 $ 6,849 $ 73,044 $ 79,893 $ 12,825 $ 67,068 2015 Camden Highlands Ridge 2,612 34,726 20,608 2,612 55,334 57,946 28,524 29,422 1996 Camden Interlocken 5,293 31,612 17,062 5,293 48,674 53,967 25,904 28,063 $ 27,426 1999 Camden Lakeway 3,915 34,129 23,002 3,915 57,131 61,046 31,405 29,641 29,262 1997 Camden Lincoln Station 4,648 51,762 86 4,648 51,848 56,496 5,015 51,481 2017 WASHINGTON DC METRO Camden Ashburn Farm 4,835 22,604 5,758 4,835 28,362 33,197 11,441 21,756 2005 Camden College Park 16,409 91,503 6,950 16,409 98,453 114,862 25,352 89,510 2008 Camden Dulles Station 10,807 61,548 5,558 10,807 67,106 77,913 22,346 55,567 2008 Camden Fair Lakes 15,515 104,223 13,204 15,515 117,427 132,942 48,905 84,037 2005 Camden Fairfax Corner 8,484 72,953 9,642 8,484 82,595 91,079 33,123 57,956 2006 Camden Fallsgrove 9,408 43,647 5,545 9,408 49,192 58,600 21,337 37,263 2005 Camden Grand Parc 7,688 35,900 2,981 7,688 38,881 46,569 15,927 30,642 2005 Camden Lansdowne 15,502 102,267 24,504 15,502 126,771 142,273 49,157 93,116 2005 Camden Largo Town Center 8,411 44,163 4,280 8,411 48,443 56,854 20,068 36,786 2005 Camden Monument Place 9,030 54,089 3,651 9,030 57,740 66,770 20,847 45,923 2007 Camden NoMa 19,442 82,306 274 19,442 82,580 102,022 17,430 84,592 2014 Camden NoMa II 17,331 91,211 39 17,331 91,250 108,581 12,378 96,203 2017 Camden Potomac Yard 16,498 88,317 8,265 16,498 96,582 113,080 31,907 81,173 2008 Camden Roosevelt 11,470 45,785 4,238 11,470 50,023 61,493 20,151 41,342 2005 Camden Russett 13,460 61,837 6,861 13,460 68,698 82,158 29,016 53,142 45,056 2005 Camden Shady Grove 24,177 89,820 30 24,177 89,850 114,027 9,404 104,623 2018 Camden Silo Creek 9,707 45,301 7,703 9,707 53,004 62,711 20,688 42,023 2005 Camden Washingtonian 13,512 73,285 — 13,512 73,285 86,797 2,532 84,265 2018 FLORIDA Southeast Florida Camden Aventura 12,185 47,616 13,055 12,185 60,671 72,856 27,617 45,239 2005 Camden Boca Raton 2,201 50,057 268 2,201 50,325 52,526 8,742 43,784 2014 Camden Brickell 14,621 57,031 23,217 14,621 80,248 94,869 32,025 62,844 2005 Camden Doral 10,260 40,416 7,542 10,260 47,958 58,218 20,465 37,753 2005 Camden Doral Villas 6,476 25,543 7,590 6,476 33,133 39,609 14,881 24,728 2005 Camden Las Olas 12,395 79,518 19,634 12,395 99,152 111,547 39,655 71,892 2005 Camden Plantation 6,299 77,964 11,402 6,299 89,366 95,665 38,047 57,618 2005 Camden Portofino 9,867 38,702 9,382 9,867 48,084 57,951 20,170 37,781 2005 Orlando Camden Hunter's Creek $ 4,156 $ 20,925 $ 5,769 $ 4,156 $ 26,694 $ 30,850 $ 12,172 $ 18,678 2005 Camden Lago Vista 3,497 29,623 6,033 3,497 35,656 39,153 15,582 23,571 2005 Camden LaVina 12,907 42,617 1,036 12,907 43,653 56,560 12,072 44,488 2012 Camden Lee Vista 4,350 34,643 8,524 4,350 43,167 47,517 24,338 23,179 2000 Camden North Quarter 9,990 68,471 742 9,990 69,213 79,203 3,641 75,562 2018 Camden Orange Court 5,319 40,733 3,300 5,319 44,033 49,352 15,681 33,671 2008 Camden Thornton Park 11,711 74,628 137 11,711 74,765 86,476 1,155 85,321 2018 Camden Town Square 13,127 45,997 833 13,127 46,830 59,957 11,711 48,246 2012 Camden World Gateway 5,785 51,821 8,348 5,785 60,169 65,954 25,433 40,521 2005 Tampa/St. Petersburg Camden Bay 7,450 63,283 15,072 7,450 78,355 85,805 43,641 42,164 1998/2002 Camden Montague 3,576 16,534 472 3,576 17,006 20,582 4,849 15,733 2012 Camden Pier District 16,704 105,383 851 16,704 106,234 122,938 6,025 116,913 2018 Camden Preserve 1,206 17,982 8,795 1,206 26,777 27,983 17,337 10,646 1997 Camden Royal Palms 2,147 38,339 3,905 2,147 42,244 44,391 15,779 28,612 2007 Camden Westchase Park 11,955 36,254 609 11,955 36,863 48,818 9,560 39,258 2012 GEORGIA Atlanta Camden Brookwood 7,174 31,984 8,835 7,174 40,819 47,993 18,783 29,210 2005 Camden Buckhead Square 13,200 43,785 657 13,200 44,442 57,642 2,928 54,714 2017 Camden Creekstone 5,017 19,912 5,148 5,017 25,060 30,077 5,804 24,273 2012 Camden Deerfield 4,895 21,922 8,376 4,895 30,298 35,193 13,970 21,223 2005 Camden Dunwoody 5,290 23,642 9,038 5,290 32,680 37,970 15,425 22,545 2005 Camden Fourth Ward 10,477 51,258 1,148 10,477 52,406 62,883 9,468 53,415 2014 Camden Midtown Atlanta 6,196 33,828 10,645 6,196 44,473 50,669 19,631 31,038 2005 Camden Paces 15,262 102,521 828 15,262 103,349 118,611 17,913 100,698 2015 Camden Peachtree City 6,536 29,063 7,636 6,536 36,699 43,235 16,374 26,861 2005 Camden Shiloh 4,181 18,798 5,972 4,181 24,770 28,951 11,595 17,356 10,565 2005 Camden St. Clair 7,526 27,486 8,010 7,526 35,496 43,022 16,859 26,163 2005 Camden Stockbridge 5,071 22,693 4,859 5,071 27,552 32,623 12,396 20,227 2005 Camden Vantage 11,787 68,822 3,747 11,787 72,569 84,356 15,103 69,253 2013 NORTH CAROLINA Charlotte Camden Ballantyne $ 4,503 $ 30,250 $ 9,067 $ 4,503 $ 39,317 $ 43,820 $ 18,565 $ 25,255 2005 Camden Cotton Mills 4,246 19,147 6,703 4,246 25,850 30,096 12,629 17,467 2005 Camden Dilworth 516 16,633 2,568 516 19,201 19,717 8,067 11,650 2006 Camden Fairview 1,283 7,223 4,327 1,283 11,550 12,833 6,188 6,645 2005 Camden Foxcroft 1,408 7,919 4,620 1,408 12,539 13,947 6,588 7,359 2005 Camden Foxcroft II 1,152 6,499 3,216 1,152 9,715 10,867 4,603 6,264 2005 Camden Gallery 7,930 51,957 114 7,930 52,071 60,001 6,141 53,860 2017 Camden Grandview 7,570 33,859 11,922 7,570 45,781 53,351 20,152 33,199 2005 Camden Sedgebrook 5,266 29,211 7,723 5,266 36,934 42,200 17,475 24,725 2005 Camden South End 6,625 29,175 11,276 6,625 40,451 47,076 17,595 29,481 2005 Camden Stonecrest 3,941 22,021 6,451 3,941 28,472 32,413 13,817 18,596 2005 Camden Touchstone 1,203 6,772 3,528 1,203 10,300 11,503 5,406 6,097 2005 Raleigh Camden Crest 4,412 31,108 6,773 4,412 37,881 42,293 16,333 25,960 2005 Camden Governor's Village 3,669 20,508 6,291 3,669 26,799 30,468 11,585 18,883 2005 Camden Lake Pine 5,746 31,714 13,579 5,746 45,293 51,039 20,048 30,991 2005 Camden Manor Park 2,535 47,159 8,835 2,535 55,994 58,529 21,551 36,978 2006 Camden Overlook 4,591 25,563 9,781 4,591 35,344 39,935 17,017 22,918 2005 Camden Reunion Park 3,302 18,457 10,791 3,302 29,248 32,550 12,781 19,769 2005 Camden Westwood 4,567 25,519 9,062 4,567 34,581 39,148 14,891 24,257 2005 TEXAS Austin Camden Cedar Hills 2,684 20,931 2,072 2,684 23,003 25,687 8,336 17,351 2008 Camden Gaines Ranch 5,094 37,100 10,344 5,094 47,444 52,538 21,613 30,925 2005 Camden Huntingdon 2,289 17,393 10,470 2,289 27,863 30,152 19,185 10,967 1995 Camden La Frontera 3,250 32,376 363 3,250 32,739 35,989 6,210 29,779 2015 Camden Lamar Heights 3,988 42,773 356 3,988 43,129 47,117 8,103 39,014 2015 Camden Stoneleigh 3,498 31,285 8,478 3,498 39,763 43,261 17,559 25,702 2006 Corpus Christi Camden Breakers 1,055 13,024 14,405 1,055 27,429 28,484 15,973 12,511 1996 Camden Copper Ridge 1,204 9,180 9,511 1,204 18,691 19,895 15,730 4,165 1993 Dallas/Fort Worth Camden Addison 11,516 29,332 8,262 11,516 37,594 49,110 11,925 37,185 2012 Camden Belmont $ 12,521 $ 61,522 $ 5,312 $ 12,521 $ 66,834 $ 79,355 $ 15,342 $ 64,013 2012 Camden Buckingham 2,704 21,251 10,705 2,704 31,956 34,660 20,173 14,487 1997 Camden Centreport 1,613 12,644 6,659 1,613 19,303 20,916 12,044 8,872 1997 Camden Cimarron 2,231 14,092 8,020 2,231 22,112 24,343 15,848 8,495 1997 Camden Farmers Market 17,341 74,193 22,213 17,341 96,406 113,747 49,780 63,967 $ 50,704 2001/2005 Camden Henderson 3,842 15,256 648 3,842 15,904 19,746 4,154 15,592 2012 Camden Legacy Creek 2,052 12,896 6,786 2,052 19,682 21,734 13,325 8,409 1997 Camden Legacy Park 2,560 15,449 8,070 2,560 23,519 26,079 15,528 10,551 13,864 1997 Camden Valley Park 3,096 14,667 15,344 3,096 30,011 33,107 28,118 4,989 1994 Camden Victory Park 13,445 71,735 158 13,445 71,893 85,338 9,086 76,252 2016 Houston Camden City Centre 4,976 44,735 3,853 4,976 48,588 53,564 18,081 35,483 33,790 2007 Camden City Centre II 5,101 28,131 426 5,101 28,557 33,658 7,514 26,144 2013 Camden Greenway 16,916 43,933 20,313 16,916 64,246 81,162 39,943 41,219 1999 Camden Holly Springs 11,108 42,852 12,030 11,108 54,882 65,990 16,527 49,463 2012 Camden McGowen Station 6,089 84,649 — 6,089 84,649 90,738 3,443 87,295 2018 Camden Midtown 4,583 18,026 10,559 4,583 28,585 33,168 18,258 14,910 28,054 1999 Camden Oak Crest 2,078 20,941 5,890 2,078 26,831 28,909 13,922 14,987 2003 Camden Park 4,922 16,453 6,030 4,922 22,483 27,405 6,789 20,616 2012 Camden Plaza 7,204 31,044 2,452 7,204 33,496 40,700 9,188 31,512 19,357 2007 Camden Post Oak 14,056 92,515 18,434 14,056 110,949 125,005 22,852 102,153 2013 Camden Royal Oaks 1,055 20,046 2,839 1,055 22,885 23,940 9,387 14,553 2006 Camden Royal Oaks II 587 12,743 25 587 12,768 13,355 3,457 9,898 2012 Camden Stonebridge 1,016 7,137 6,717 1,016 13,854 14,870 9,384 5,486 1993 Camden Sugar Grove 7,614 27,594 4,251 7,614 31,845 39,459 8,428 31,031 2012 Camden Travis Street 1,780 29,104 1,284 1,780 30,388 32,168 10,120 22,048 2010 Camden Vanderbilt 16,076 44,918 25,144 16,076 70,062 86,138 47,043 39,095 73,155 1994/1997 Camden Whispering Oaks 1,188 26,242 1,711 1,188 27,953 29,141 10,392 18,749 2008 Total current communities: $ 1,083,532 $ 5,865,522 $ 979,497 $ 1,083,532 $ 6,845,019 $ 7,928,551 $ 2,400,440 $ 5,528,111 $ 485,176 Communities under construction: Name / location Camden North End I (1) $ 95,865 $ 95,865 $ 95,865 $ 2,596 $ 93,269 N/A Camden Grandview II (1) 21,267 21,267 21,267 113 21,154 N/A Camden RiNo 41,594 41,594 41,594 41,594 N/A Camden Downtown I 58,963 58,963 58,963 58,963 N/A Camden Lake Eola 34,016 34,016 34,016 34,016 N/A Camden Buckhead 26,073 26,073 26,073 26,073 N/A Total communities under construction: $ — $ 277,778 $ — $ — $ 277,778 $ 277,778 $ 2,709 $ 275,069 $ — Development pipeline communities: Name/location Camden North End II $ 15,301 $ 15,301 $ 15,301 $ 15,301 N/A Camden Hillcrest 28,853 28,853 28,853 28,853 N/A Camden Atlantic 16,666 16,666 16,666 16,666 N/A Camden Arts District 21,471 21,471 21,471 21,471 N/A Camden Paces III 14,632 14,632 14,632 14,632 N/A Camden Downtown II 10,719 10,719 10,719 10,719 N/A Total development pipeline communities: $ — $ 107,642 $ — $ — $ 107,642 $ 107,642 $ — $ 107,642 $ — Corporate 14,504 — 14,504 14,504 14,504 N/A $ — $ 14,504 $ — $ — $ 14,504 $ 14,504 $ — $ 14,504 $ — TOTAL $ 1,083,532 $ 6,265,446 $ 979,497 $ 1,083,532 $ 7,244,943 $ 8,328,475 $ 2,403,149 $ 5,925,326 $ 485,176 (1) Properties are in lease-up at December 31, 2018 . Balances presented here includes costs which are included in buildings and improvements and land on the consolidated balance sheet at December 31, 2018 . These costs related to completed unit turns for these properties. Camden Property Trust Real Estate and Accumulated Depreciation As of December 31, 2018 (in thousands) Schedule III The changes in total real estate assets as adjusted for discontinued operations for the years ended December 31: 2018 2017 2016 Balance, beginning of period $ 7,667,743 $ 7,376,690 $ 7,387,597 Additions during period: Acquisition of operating properties 286,901 56,985 — Development and repositions 300,294 224,202 278,447 Improvements 84,841 71,889 65,892 Deductions during period: Cost of real estate sold – other (11,304 ) (62,023 ) (355,246 ) Balance, end of period $ 8,328,475 $ 7,667,743 $ 7,376,690 The changes in accumulated depreciation for the years ended December 31: 2018 2017 2016 Balance, beginning of period $ 2,118,839 $ 1,890,656 $ 1,780,694 Depreciation of real estate assets 284,310 255,924 243,403 Dispositions — (27,741 ) (133,441 ) Balance, end of period $ 2,403,149 $ 2,118,839 $ 1,890,656 The aggregate cost for federal income tax purposes at December 31, 2018 was $7.5 billion . |
Schedule IV - Mortgage Loans _2
Schedule IV - Mortgage Loans on Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] | |
Mortgage Loans on Real Estate Table [Table Text Block] | Camden Property Trust As of December 31, 2018 Schedule IV ($ in thousands) Description Interest Rate Final Maturity Date Periodic payment terms Face amount of mortgages Carry amount of mortgages (a) Parking Garage Developer advances Houston, TX (b) October 1, 2025 (c) $ 9,314 $ 9,314 (a) The aggregate cost at December 31, 2018 for federal income tax purposes was approximately $9,314 . (b) This loan currently bears interest at 4% and will increase to 7% on any unpaid principal balance on January 1, 2019 with the completion of our planned apartment project at an adjacent location. (c) Payments will consist of annual interest and principal payments from October 1, 2018 to October 1, 2025 . |
Changes in Mortgage Loans [Table Text Block] | Changes in mortgage loans for the years ended December 31 are summarized below: 2018 2017 2016 Balance, beginning of period $ 18,790 $ 17,224 $ 13,161 Additions: Advances under real estate loans — 1,566 7,458 Deductions: Collections of principal and loan payoff (9,476 ) — (3,395 ) Balance, end of period $ 9,314 $ 18,790 $ 17,224 |
Description Of Business (Detail
Description Of Business (Details) | Dec. 31, 2018 |
Description of Business [Abstract] | |
Number of multifamily communities comprising of apartment homes | 167 |
Total number of apartment homes in multifamily communities | 56,858 |
Number of multifamily properties under development | 6 |
Total number of apartment homes in multifamily properties upon completion of development | 1,698 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2019 | Dec. 31, 2015 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Current Fiscal Year End Date | --12-31 | |||||
Proceeds from Collection of Notes Receivable | $ 9,500 | |||||
Proceeds from Interest Received | 500 | |||||
Amortization of Below Market Lease | $ 200 | |||||
Capitalized interest | 13,600 | $ 15,200 | $ 18,200 | |||
Capitalized real estate taxes | 2,200 | 2,400 | 4,500 | |||
Outstanding notes receivable | $ 9,314 | $ 9,314 | $ 18,790 | $ 17,224 | $ 13,161 | |
Weighted average interest rate on outstanding notes receivable | 4.00% | 4.00% | ||||
Percentage Of Rental Revenue And Other Income From Leasing Of Apartment Homes | 99.00% | 99.00% | 99.00% | |||
Amortization of in-place leases | $ 9,400 | $ 1,300 | ||||
Camden Summit Partnership L P [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 95.00% | |||||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 1.00% | |||||
Conversion of Units, Cash | $ 14,415 | |||||
Camden Operating L P [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 92.00% | |||||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 1.00% | |||||
Subsequent Event [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Operating Lease, Liability | $ 16,600 |
Summary of Significant Accoun_5
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, 2018 | Dec. 31, 2017 | |
Accounting Policies [Abstract] | ||
Revenues related to below market leases | $ 0.2 | |
Amortization of in-place leases | $ 9.4 | $ 1.3 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Expected Useful Lives Of Depreciable Property) (Details) | 12 Months Ended |
Dec. 31, 2018 | |
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 |
Revenues Revenues (Narrative) (
Revenues Revenues (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue Recognition, Leases [Abstract] | ||
New Accounting Pronouncement or Change in Accounting Principle, Description | 22.2 | 21.9 |
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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | [1] | Sep. 30, 2017 | [2] | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Earnings Per Share [Abstract] | |||||||||||||||
Number of common share equivalent securities excluded from the diluted earnings per share calculation | 2,100 | 1,500 | 2,400 | ||||||||||||
Income from continuing operations attributable to common shareholders | $ 156,128 | $ 196,422 | $ 436,981 | ||||||||||||
Amount allocated to participating securities | (1,107) | (660) | (6,304) | ||||||||||||
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities | 155,021 | 195,762 | 430,677 | ||||||||||||
Discontinued operations, including gain on sale, attributable to common shareholders | 0 | 0 | 382,842 | ||||||||||||
Net income attributable to common shareholders - basic | $ 155,021 | $ 195,762 | $ 813,519 | ||||||||||||
Earnings per common share from continuing operations | $ 1.63 | $ 2.14 | $ 4.81 | ||||||||||||
Earnings per common share from discontinued operations | 0 | 0 | 4.27 | ||||||||||||
Total earnings per common share - basic | $ 0.41 | $ 0.41 | $ 0.40 | $ 0.41 | $ 0.92 | $ 0.38 | $ 0.43 | $ 0.39 | $ 1.63 | [3] | $ 2.14 | [3] | $ 9.08 | ||
Weighted average number of common shares outstanding – basic | 95,208 | 91,499 | 89,580 | ||||||||||||
Income allocated to common units from continuing operations | $ 0 | $ 1,174 | $ 0 | ||||||||||||
Income from continuing operations attributable to common shareholders, as adjusted | 155,021 | 196,936 | 430,677 | ||||||||||||
Net income attributable to common shareholders - diluted | $ 155,021 | $ 196,936 | $ 813,519 | ||||||||||||
Earnings per common share from continuing operations | $ 1.63 | $ 2.13 | $ 4.79 | ||||||||||||
Earnings per common share from discontinued operations | 0 | 0 | 4.26 | ||||||||||||
Total earnings per common share - diluted | $ 0.41 | $ 0.40 | $ 0.40 | $ 0.41 | $ 0.91 | $ 0.38 | $ 0.43 | $ 0.39 | $ 1.63 | [3] | $ 2.13 | [3] | $ 9.05 | ||
Common share options and share awards granted | 158 | 211 | 323 | ||||||||||||
Common units | 0 | 0 | 805 | ||||||||||||
Weighted average number of common shares outstanding - diluted | 95,366 | 92,515 | 89,903 | ||||||||||||
[1] | Includes a $43,231, or $0.46 basic and $0.45 diluted per share, impact related to a gain on sale of one operating property. | ||||||||||||||
[2] | Includes a $4,987, or $0.05 basic and diluted per share, impact related to expenses due to Hurricanes Harvey and Irma. | ||||||||||||||
[3] | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. |
Common Shares (Narrative) (Deta
Common Shares (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||
May 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Feb. 15, 2019 | Sep. 23, 2016 | Aug. 31, 2015 | |
Treasury Stock, Shares, Acquired | 3,222 | ||||||
Treasury Stock, Value, Acquired, Par Value Method | $ 253 | ||||||
Treasury Stock, Shares | 9,841,000 | 10,073,000 | |||||
Treasury Stock, Value | $ 355,804 | $ 364,066 | |||||
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 | 93,200,000 | ||||||
Preferred Stock, Shares Outstanding | 0 | ||||||
Common shares issued | 0 | 4,778 | 0 | ||||
Proceeds from issuance of common shares | $ 0 | $ 445,038 | $ 0 | ||||
Special Dividend, Per Share | $ 4.25 | ||||||
2017 ATM program [Member] | |||||||
Maximum aggregate offering price of common shares | $ 315,300 | ||||||
2014 ATM program [Member] | |||||||
Common shares issued | 28,100 | ||||||
Subsequent Event [Member] | 2017 ATM program [Member] | |||||||
Maximum aggregate offering price of remaining common shares available for sale | $ 312,800 | ||||||
April 2007 Repurchase Plan [Member] | |||||||
Stock Repurchase Program, Authorized Amount | $ 500,000 | ||||||
April 2007 Repurchase Plan [Member] | Subsequent Event [Member] | |||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 269,500 | ||||||
Unsecured Credit Facility [Member] | |||||||
Line of Credit Facility, Current Borrowing Capacity | $ 600,000 | $ 500,000 |
Common Shares (Activity Under A
Common Shares (Activity Under At-The-Market Share Offering Program) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Total net consideration | $ 445,038,000 | |||
Common shares sold | 0 | 4,778 | 0 | |
2014 ATM program [Member] | ||||
Total net consideration | $ 2,513,600 | |||
Common shares sold | 28,100 | |||
Average price per common share sold | $ 90.44 |
Operating Partnerships (Details
Operating Partnerships (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Oct. 01, 2018 | |
Amount indemnified by unitholders of partnership | $ 21.2 | |
Camden Operating L P [Member] | ||
Percentage Of Real Estate Properties Held With Operating Partnership | 4.00% | |
Units of Partnership Interest, Amount | 11.9 | |
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 92.00% | |
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 | 33.00% | |
Units of Partnership Interest, Amount | 22.8 | |
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 95.00% | |
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 1.00% | |
Limited Partners' Capital Account, Units Outstanding | 1 | |
Unsecured Debt [Member] | Term loan Due 2022 | ||
Debt Instrument, Face Amount | $ 100 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
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 | ||
Difference Between Carry Value Of Net Assets And Tax Basis Of Net Assets | 1,300,000 | ||
Income tax expense | 1,424 | $ 1,224 | $ 1,617 |
Uncertain tax positions or unrecognized tax benefits | $ 0 | ||
Minimum [Member] | |||
Operating Loss Carryforwards, Expiration Dates | Jan. 1, 2034 | ||
Maximum [Member] | |||
Operating Loss Carryforwards, Expiration Dates | Jan. 1, 2037 |
Income Taxes (Schedule of Per S
Income Taxes (Schedule of Per Share Distributions Reported to Shareholders) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Ordinary Income | $ 2.99 | $ 2.38 | $ 0 |
Long-term capital gain | 0.09 | 0.41 | 5.02 |
Unrecaptured Sec. 1250 gain | 0 | 0.21 | 2.23 |
Total common share distributions | $ 3.08 | $ 3 | $ 7.25 |
Acquisitions, Dispositions, I_3
Acquisitions, Dispositions, Impairment, and Discontinued Operations (Narrative) (Details) $ in Thousands | Sep. 24, 2018USD ($)a | Apr. 12, 2018USD ($)a | Feb. 15, 2018USD ($) | Jan. 11, 2018USD ($) | Apr. 28, 2017USD ($)a | Apr. 30, 2016USD ($) | Feb. 29, 2016USD ($)a | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($)a | Jun. 01, 2017 | Apr. 26, 2016a | |
Property, Plant and Equipment [Line Items] | |||||||||||||
Property operating and maintenance | $ 220,732 | $ 217,817 | $ 206,780 | ||||||||||
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | $ 7,836 | 6,822 | $ 7,125 | [1],[2] | |||||||||
Number of Operating properties Acquired | 3 | ||||||||||||
Area of Land | a | 1.8 | 8.2 | 4.6 | ||||||||||
Purchase price of land acquired | $ 11,400 | $ 20,000 | $ 19,900 | ||||||||||
Gain on sale of operating properties, including land | $ 0 | 43,231 | 295,397 | ||||||||||
Number of Units in Real Estate Property | 360 | ||||||||||||
Payments to Acquire Real Estate | 290,005 | 58,267 | 0 | ||||||||||
Noncontrolling Interest, Increase from Business Combination | 14,668 | 0 | 0 | ||||||||||
Gain on sale of discontinued operations, net of tax | 0 | 0 | $ 375,237 | ||||||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Area of Land | a | 14.1 | 6.3 | |||||||||||
Proceeds from Sale of Land Held-for-investment | $ 11,500 | $ 2,200 | |||||||||||
Gains (Losses) on Sales of Investment Real Estate | $ 400 | ||||||||||||
Number of Real Estate Properties | 1 | 6 | |||||||||||
Number of Units in Real Estate Property | 1,005 | 3,184 | |||||||||||
Proceeds from Sale of Property, Plant, and Equipment | $ 78,400 | $ 523,400 | |||||||||||
Gain (Loss) on Sale of Properties | $ 294,900 | ||||||||||||
Weighted average age of operating properties | 24 | ||||||||||||
Dual-Phase Property Sale [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Number of Real Estate Properties | 1 | ||||||||||||
Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Area of Land | a | 19.6 | ||||||||||||
Number of Real Estate Properties | 15 | ||||||||||||
Number of Units in Real Estate Property | 4,918 | ||||||||||||
Proceeds from Sale of Property, Plant, and Equipment | $ 630,000 | ||||||||||||
Weighted average age of operating properties | 23 | ||||||||||||
Hurricane [Member] | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | $ 400 | ||||||||||||
Camden North Quarter [Member] | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Number of Operating properties Acquired | 1 | ||||||||||||
Number of Units in Real Estate Property | 333 | ||||||||||||
Payments to Acquire Real Estate | $ 81,400 | ||||||||||||
Camden Thornton Park [Member] | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Number of Operating properties Acquired | 1 | ||||||||||||
Number of Units in Real Estate Property | 299 | ||||||||||||
Payments to Acquire Real Estate | $ 89,800 | ||||||||||||
Camden Pier District [Member] | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Number of Operating properties Acquired | 1 | ||||||||||||
Number of Units in Real Estate Property | 358 | ||||||||||||
Payments to Acquire Real Estate | $ 126,900 | ||||||||||||
Camden Buckhead Square [Member] | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Number of Operating properties Acquired | 1 | ||||||||||||
Number of Units in Real Estate Property | 250 | ||||||||||||
[1] | Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds | ||||||||||||
[2] | Equity in income for the years ended December 31, 2017 includes our ownership interest of the hurricane related recoveries and expenses of approximately $0.4 million, respectively. |
Acquisitions, Dispositions, I_4
Acquisitions, Dispositions, Impairment, and Discontinued Operations (Summary Of Income From Discontinued Operations) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |||
Property revenues | $ 19,184 | ||
Property expenses | (6,898) | ||
Property revenues less property expenses | 12,286 | ||
Property Management Expense | (242) | ||
Depreciation and amortization | (4,327) | ||
Income tax expense | (112) | ||
Income from discontinued operations | $ 0 | $ 0 | 7,605 |
Gain on sale of discontinued operations, net of tax | $ 0 | $ 0 | $ 375,237 |
Investments In Joint Ventures_2
Investments In Joint Ventures (Narrative) (Details) | 12 Months Ended | ||||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Apr. 12, 2018 | ||
Direct Costs of Leased and Rented Property or Equipment | $ 220,732,000 | $ 217,817,000 | $ 206,780,000 | ||
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | $ 7,836,000 | $ 6,822,000 | $ 7,125,000 | [1],[2] | |
Number of joint ventures accounted for under equity method investments | 3 | 3 | 3 | ||
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 | 5,700,000 | $ 5,800,000 | $ 5,300,000 | ||
Maximum Investments by Formed Unconsolidated Joint Venture | $ 450,000,000 | ||||
Number of Units in Real Estate Property | 360 | ||||
Minimum [Member] | |||||
Equity method investment ownership percentage | 20.00% | ||||
Maximum [Member] | |||||
Equity method investment ownership percentage | 31.30% | ||||
Hurricane [Member] | |||||
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | $ 400,000 | ||||
Non-consolidated entity [Member] | Hurricane [Member] | |||||
Direct Costs of Leased and Rented Property or Equipment | $ 1,300,000 | ||||
[1] | Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds | ||||
[2] | Equity in income for the years ended December 31, 2017 includes our ownership interest of the hurricane related recoveries and expenses of approximately $0.4 million, respectively. |
Investments In Joint Ventures_3
Investments In Joint Ventures (Aggregate Balance Sheet And Statement Of Income Data For Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Schedule of Equity Method Investments [Line Items] | ||||
Total assets | $ 695,200 | $ 715,900 | ||
Total third party debt | 510,700 | 514,500 | ||
Total equity | 158,400 | 174,500 | ||
Total revenues | 127,400 | 121,900 | $ 119,800 | |
Net income | 16,400 | 13,500 | 14,800 | [1] |
Equity in income of joint ventures | $ 7,836 | $ 6,822 | $ 7,125 | [2],[3] |
[1] | Net income for the years ended December 31, 2017 includes approximately $1.3 million of property expense, respectively, relating to Hurricanes Harvey and Irma in the third quarter of 2017. | |||
[2] | Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds | |||
[3] | Equity in income for the years ended December 31, 2017 includes our ownership interest of the hurricane related recoveries and expenses of approximately $0.4 million, respectively. |
Notes Payable (Summary Of Indeb
Notes Payable (Summary Of Indebtedness) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Oct. 04, 2018 | Oct. 02, 2018 | Dec. 31, 2017 | |
Unsecured Debt | $ 1,836,427 | $ 1,338,628 | ||
Secured notes payable | 485,176 | 865,970 | ||
Total notes payable | 2,321,600 | 2,204,600 | ||
Value Of Real Estate Assets At Cost Subject To Secured Notes | 867,900 | 1,534,900 | ||
Senior Unsecured Notes [Member] | ||||
Unsecured Debt | 1,736,800 | 1,338,600 | ||
Term loan Due 2022 | Unsecured Debt [Member] | ||||
Unsecured Debt | 99,600 | 0 | ||
4.78% Notes Due 2021 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 249,100 | 248,700 | ||
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 | $ 347,300 | 346,600 | ||
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 | $ 248,000 | 247,600 | ||
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 | $ 248,700 | 248,500 | ||
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 | $ 247,600 | 247,200 | ||
Notes payable, effective interest rate | 3.68% | |||
Debt Instrument, Maturity Date | Sep. 15, 2024 | |||
3.74% Notes Due 2028 | Unsecured Debt [Member] | ||||
Notes payable, effective interest rate | 4.113% | |||
3.74% Notes Due 2028 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 396,100 | 0 | ||
Notes payable, effective interest rate | 3.74% | |||
Debt Instrument, Maturity Date | Oct. 15, 2028 | |||
Secured Notes 4.38% to 5.33% Conventional Mortgage Notes Due 2018 to 2045 [Member] [Member] | Secured Debt [Member] | ||||
Secured notes payable | $ 485,200 | 866,000 | ||
Secured Notes 1.92% Floating Rate [Member] | Secured Debt [Member] | ||||
Secured notes payable | $ 0 | $ 175,000 | $ 175,000 | |
Minimum [Member] | Term loan Due 2022 | Unsecured Debt [Member] | ||||
Notes payable, effective interest rate | 3.34% | |||
Minimum [Member] | Secured Notes 4.38% to 5.33% Conventional Mortgage Notes Due 2018 to 2045 [Member] [Member] | Secured Debt [Member] | ||||
Notes payable, effective interest rate | 4.38% | |||
Debt Instrument, Maturity Date | May 1, 2019 | |||
Minimum [Member] | Secured Notes 1.92% Floating Rate [Member] | Secured Debt [Member] | ||||
Notes payable, effective interest rate | 1.92% | |||
Maximum [Member] | Secured Notes 4.38% to 5.33% Conventional Mortgage Notes Due 2018 to 2045 [Member] [Member] | Secured Debt [Member] | ||||
Notes payable, effective interest rate | 5.33% | |||
Debt Instrument, Maturity Date | Sep. 1, 2045 | |||
Short-term Debt [Member] | ||||
Debt Instrument, Maturity Date | May 14, 2018 | |||
Unsecured Credit Facility [Member] | Commercial Banks [Member] | ||||
Unsecured Debt | $ 0 |
Notes Payable (Narrative) (Deta
Notes Payable (Narrative) (Details) $ in Thousands | Oct. 02, 2018USD ($) | May 31, 2018 | Aug. 31, 2015USD ($) | Feb. 15, 2019USD ($) | Dec. 31, 2018USD ($)yr | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Oct. 04, 2018USD ($) | Oct. 01, 2018USD ($) | May 12, 2018USD ($) |
Secured Debt | $ 485,176 | $ 865,970 | ||||||||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $ 13,900 | 12,300 | ||||||||
Current Fiscal Year End Date | --12-31 | |||||||||
Unsecured Debt | $ 1,836,427 | 1,338,628 | ||||||||
Total notes payable | 2,321,600 | 2,204,600 | ||||||||
Loss on early retirement of debt | 0 | 323 | $ 0 | |||||||
Available amount under unsecured credit facility | $ 589,900 | |||||||||
Weighted average interest rate on floating rate debt | 4.20% | |||||||||
Weighted average maturity of indebtedness (including unsecured credit facility and unsecured short-term borrowings) (in years) | yr | 4.9 | |||||||||
Short-term Debt [Member] | ||||||||||
Other Short-term Borrowings | $ 0 | |||||||||
Maximum borrowing capacity under unsecured credit facility | $ 45,000 | |||||||||
Debt Instrument, Maturity Date | May 14, 2018 | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.95% | |||||||||
Available amount under unsecured credit facility | $ 45,000 | |||||||||
Letter Of Credit [Member] | ||||||||||
Maximum Ability to Issue Letters of Credit Under Unsecured Credit Facility | 50,000 | |||||||||
Outstanding balance under credit facility | 10,100 | |||||||||
Senior Unsecured Notes [Member] | ||||||||||
Unsecured Debt | 1,736,800 | 1,338,600 | ||||||||
Term loan Due 2022 | Unsecured Debt [Member] | ||||||||||
Debt Instrument, Face Amount | $ 100,000 | |||||||||
Unsecured Debt | 99,600 | 0 | ||||||||
3.74% Notes Due 2028 | Unsecured Debt [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.10% | |||||||||
Discounted notes payable face amount | 99.893% | |||||||||
Debt Instrument, Face Amount | $ 400,000 | |||||||||
Notes payable, effective interest rate | 4.113% | |||||||||
Debt Instrument, Interest Rate, Basis for Effective Rate | 0.0374 | |||||||||
Proceeds from Issuance of Debt | $ 396,100 | |||||||||
3.74% Notes Due 2028 | Senior Unsecured Notes [Member] | ||||||||||
Unsecured Debt | $ 396,100 | 0 | ||||||||
Debt Instrument, Maturity Date | Oct. 15, 2028 | |||||||||
Notes payable, effective interest rate | 3.74% | |||||||||
Secured Notes Due 2018 | Secured Debt [Member] | ||||||||||
Repayments of Secured Debt | $ 380,000 | |||||||||
Secured Notes 1.92% Floating Rate [Member] | Secured Debt [Member] | ||||||||||
Secured Debt | $ 0 | 175,000 | $ 175,000 | |||||||
Secured Notes 5.77% Floating Rate [Member] | Secured Debt [Member] | ||||||||||
Secured Debt | $ 205,000 | |||||||||
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 | |||||||||
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 | $ 99,600 | $ 175,000 | ||||||||
Weighted average interest rate on floating rate debt | 1.90% | |||||||||
Subsequent Event [Member] | ||||||||||
Repayments of Secured Debt | $ 200,000 |
Notes Payable (Scheduled Repaym
Notes Payable (Scheduled Repayments On Outstanding Debt) (Details) $ in Millions | Dec. 31, 2018USD ($) | |
2,019 | $ 437.3 | |
2,020 | (1.9) | [1] |
2,021 | 248.5 | |
2,022 | 448.8 | |
2,023 | 249.8 | |
Thereafter | 939.1 | |
Total notes payable | $ 2,321.6 | |
Weighted Average Interest Rate | 4.20% | |
Maturities Due In 2019 [Member] | ||
Weighted Average Interest Rate | 5.20% | |
Maturities Due In 2020 [Member] | ||
Weighted Average Interest Rate | 0.00% | |
Maturities Due In 2021 [Member] | ||
Weighted Average Interest Rate | 4.80% | |
Maturities due in 2022 [Member] | ||
Weighted Average Interest Rate | 3.20% | |
Maturities due in 2023 [Member] | ||
Weighted Average Interest Rate | 5.10% | |
Maturities Due Thereafter [Member] | ||
Weighted Average Interest Rate | 3.90% | |
[1] | Includes only amortization of debt discounts and debt issuance costs, net of scheduled principal payments.Subsequent to December 31, 2018, we repaid $200.0 million of secured notes utilizing our unsecured credit facility. |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedging Activities (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Derivatives, Fair Value [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | $ 6,800 | $ 1,700 | |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 700 | ||
Interest Rate Derivative Assets, at Fair Value | $ 0 | 2,200 | |
Description of Derivative Activity Volume | 400 | ||
Derivative, Number of Instruments Held | 4 | ||
Derivative, notional amount entered in the year | $ 500,000 | ||
Interest Rate Derivative Liabilities, at Fair Value | 7,400 | 500 | |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 400 | 0 | |
Payments for (Proceeds from) Hedge, Financing Activities | 15,905 | 0 | $ 0 |
Interest Rate Swap [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Interest Rate Derivative Assets, at Fair Value | 0 | 2,200 | |
Interest Rate Derivative Liabilities, at Fair Value | 7,400 | 500 | |
Interest Rate Cap [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Notional Amount | $ 200,000 | ||
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Notional Amount | $ 300,000 | ||
Number of Interest Rate Derivatives Held | 2 | 3 | |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Interest Rate Derivative Assets, at Fair Value | $ 0 | $ 2,200 | |
Interest Rate Derivative Liabilities, at Fair Value | $ 7,400 | $ 500 |
Derivative Financial Instrume_4
Derivative Financial Instruments and Hedging Activities Reclassified Gain (Loss) on Derivatives Table (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | $ 6.8 | $ 1.7 |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ 0.4 | $ 0 |
Share-Based Compensation and _3
Share-Based Compensation and Benefit Plans (Narrative) (Details) | 12 Months Ended | |||
Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($) | May 17, 2018shares | |
Granted, Options Outstanding | shares | 9,994 | |||
Total compensation cost for option and share awards | $ 17,800,000 | $ 18,800,000 | $ 21,300,000 | |
Total capitalized compensation cost for option and share awards | $ 3,000,000 | $ 3,800,000 | 3,800,000 | |
Percentage Of Market Value Per Share At Which Shares Purchased Under Employee Share Purchase Plan | 85.00% | |||
EmployeeSharePurchasePlanMaximumAuthorizedAmountPerParticipant | $ 25,000 | |||
Share Awards Held In Employee Trust Shares | shares | 1,700,000 | 1,700,000 | ||
Share Awards Held In Non Qualified Deferred Compensation Plan Shares | $ 14,900,000 | $ 26,700,000 | ||
Cash Required By Plan Participants Upon Withdrawal | $ 21,200,000 | $ 22,300,000 | ||
Share Awards Held In Non Qualified Deferred Compensation Plan Shares | shares | 700,000 | 1,000,000 | ||
Trading Securities Held In Non Qualified Deferred Compensation Plan Value | $ 129,800,000 | $ 93,600,000 | ||
Defined Contribution Plan, Cost | $ 2,900,000 | $ 2,700,000 | 2,700,000 | |
Number of shares diversified | shares | 429,000 | 261,000 | ||
Employee Share Purchase Program maximum shares available | shares | 500,000 | |||
Options [Member] | ||||
Total intrinsic value of options exercised during the period | $ 2,000,000 | $ 2,200,000 | 8,900,000 | |
Share Awards and Vesting [Member] | ||||
Total unrecognized compensation cost related to unvested options which is expected to be amortized | 15,400,000 | |||
Fair value of shares vested | $ 24,000,000 | $ 23,100,000 | $ 27,200,000 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years | |||
Maximum [Member] | Share Awards and Vesting [Member] | ||||
Vesting period, years | 5 years | |||
Two Thousand Eighteen Share Incentive Plan [Member] | ||||
Total fungible units to be issued | shares | 8,200,000 | 9,700,000 | ||
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 | shares | 1 | |||
Common shares which could be granted pursuant to full value awards | shares | 2,400,000 |
Share-Based Compensation and _4
Share-Based Compensation and Benefit Plans (Summary Of Share Incentive Plans) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Outstanding Options, Beginning balance | 68,978 | ||
Granted, Options Outstanding | 9,994 | ||
Exercised/Vested, Options Outstanding | (78,972) | ||
Forfeited, Options Outstanding | 0 | ||
Outstanding Options, Ending balance | 0 | 68,978 | |
Weighted Average Exercise/Grant Price, Beginning balance | $ 61.15 | ||
Granted, Weighted Average Exercise/Grant Price | 78.55 | ||
Exercised/Vested, Weighted Average Exercise/Grant Price | 63.35 | ||
Forfeited, Weighted Average Exercise/Grant Price | 0 | ||
Weighted Average Exercise/Grant Price, Ending balance | $ 0 | $ 61.15 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Nonvested share awards outstanding, Beginning balance | 499,898 | ||
Granted, Share Awards Outstanding | 232,478 | ||
Exercised/Vested, Share Awards Outstanding | (316,668) | ||
Forfeited, Share Awards Outstanding | (25,027) | ||
Nonvested share awards outstanding, Ending balance | 390,681 | 499,898 | |
Nonvested share awards outstanding, Weighted Average Exercise/Grant Price Beginning | $ 75.80 | ||
Granted, Weighted Average Exercise/Grant Price | 82.81 | $ 83.41 | $ 74.92 |
Exercised/Vested, Weighted Average Exercise/Grant Price | 75.66 | ||
Forfeited, Weighted Average Exercise/Grant Price | 79.83 | ||
Nonvested share awards outstanding, Weighted Average Exercise/Grant Price Ending | $ 79.82 | $ 75.80 |
Share-Based Compensation and _5
Share-Based Compensation and Benefit Plans (Employee Share Purchase Plan Activity) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation [Abstract] | |||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 15,330 | 18,986 | 20,797 |
Weighted Average Fair Value Of Shares Purchased Under Employee Share Purchase Plan | $ 90.93 | $ 89.89 | $ 82.33 |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 0.2 | $ 0.3 | $ 0.4 |
Share-Based Compensation and _6
Share-Based Compensation and Benefit Plans (Deferred Compensation Plan Shares Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share Based Compensation Awards (Deferred Compensation Plan Awards) Table [Abstract] | |||
Non-qualified deferred compensation share awards | $ 77,230 | $ 77,037 | |
Change in classification | 16,407 | 13,388 | $ 13,956 |
Change in redemption value | (669) | 10,038 | 9,145 |
Diversification of share awards | (40,294) | (23,233) | (25,428) |
Non-qualified deferred compensation share awards | $ 52,674 | $ 77,230 | $ 77,037 |
Share-Based Compensation and _7
Share-Based Compensation and Benefit Plans (Schedule of share-based payment award, stock options, valuation assumptions) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 15.10% | 18.90% | 18.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 15.10% | 18.90% | 18.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 2.00% | 1.30% | 0.90% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 2.00% | 1.30% | 0.90% |
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 4.11 | $ 5.25 | $ 6.71 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 3.30% | 5.50% | 3.80% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 1 year | 2 years | 3 years |
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 4.11 | $ 5.25 | $ 6.71 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 3.30% | 5.50% | 3.80% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 1 year | 2 years | 3 years |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value) (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | ||
Deferred compensation plan investments | $ 144,700 | [1] | $ 120,300 | |
Participant Withdrawals From Deferred Compensation Plan Investments | 12,700 | 4,200 | ||
Diversification of share awards within deferred compensation plan (Equity) | 40,294 | 23,233 | $ 25,428 | |
Interest Rate Derivative Assets, at Fair Value | 0 | 2,200 | ||
Interest Rate Derivative Liabilities, at Fair Value | $ 7,400 | 500 | ||
Number of Operating properties Acquired | 3 | |||
Level 1 [Member] | ||||
Deferred compensation plan investments | $ 144,700 | 120,300 | ||
Interest Rate Derivative Assets, at Fair Value | 0 | 0 | ||
Interest Rate Derivative Liabilities, at Fair Value | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Deferred compensation plan investments | 0 | 0 | ||
Level 3 [Member] | ||||
Deferred compensation plan investments | 0 | 0 | ||
Interest Rate Derivative Assets, at Fair Value | 0 | 0 | ||
Interest Rate Derivative Liabilities, at Fair Value | 0 | 0 | ||
Interest Rate Swap [Member] | ||||
Interest Rate Derivative Assets, at Fair Value | 0 | 2,200 | ||
Interest Rate Derivative Liabilities, at Fair Value | 7,400 | 500 | ||
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Interest Rate Derivative Assets, at Fair Value | 0 | 2,200 | ||
Interest Rate Derivative Liabilities, at Fair Value | $ 7,400 | $ 500 | ||
Camden Buckhead Square [Member] | ||||
Number of Operating properties Acquired | 1 | |||
[1] | Approximately $12.7 million and $4.2 million of participant cash was withdrawn from our deferred compensation plan investments during the years ended December 31, 2018 and 2017, respectively. Approximately $40.3 million and $23.2 million of shares within the deferred compensation plan were diversified into other deferred compensation plan investments during the years ended December 31, 2018 and 2017, respectively. |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Of Notes Payable) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Carrying Value | $ 2,321.6 | $ 2,204.6 |
Fixed Rate Notes Payable [Member] | ||
Carrying Value | 2,222 | 2,029.6 |
Estimated Fair Value | 2,265.4 | 2,106.5 |
Floating Rate Notes Payable [Member] | ||
Carrying Value | 99.6 | 175 |
Estimated Fair Value | $ 99.4 | $ 173.7 |
Net Change In Operating Accou_3
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Increase (Decrease) in Operating Capital [Abstract] | |||
Other assets, net | $ 10,364 | $ (6,724) | $ (3,551) |
Accounts payable and accrued expenses | (4,133) | (2,300) | (2,309) |
Accrued real estate taxes | 1,910 | 2,342 | 5,526 |
Other liabilities | (1,486) | (995) | (2,361) |
Other | 2,898 | 2,831 | 2,976 |
Change in operating accounts and other | $ 9,553 | $ (4,846) | $ 281 |
Commitments And Contingencies (
Commitments And Contingencies (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of Operating properties Acquired | 3 | ||
Number of consolidated projects under construction | 6 | ||
Anticipated expenditures relating to completion of construction type contracts | $ 335.2 | ||
Earnest Money Deposits | 2.9 | ||
Increase (Decrease) in Earnest Money Deposits Outstanding | 0.4 | ||
Rental expense | 3.8 | $ 4 | $ 4.1 |
Minimum annual rental commitments, 2019 | 2.9 | ||
Minimum annual rental commitments, 2020 | 3 | ||
Minimum annual rental commitments, 2021 | 3.1 | ||
Minimum annual rental commitments, 2022 | 2.7 | ||
Minimum annual rental commitments, 2023 | 2.6 | ||
Minimum annual rental commitments, thereafter | $ 4.5 | ||
Partnership Interest [Member] | Maximum [Member] | |||
Less than joint venture economic interest noted | 100.00% |
Non-controlling Interests Non-c
Non-controlling Interests Non-controllin Interests (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Noncontrolling Interest [Abstract] | |||||||||||
Net income attributable to common shareholders | $ 39,196 | $ 38,866 | $ 38,671 | $ 39,395 | $ 87,989 | $ 34,384 | $ 39,188 | $ 34,861 | $ 156,128 | $ 196,422 | $ 819,823 |
Quarterly Financial Data (una_3
Quarterly Financial Data (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Hurricane related expenses per diluted share | $ 0.05 | ||||||||||||||
Hurricane related expenses | $ 4,987 | ||||||||||||||
Hurricane Related Expenses per basic share | $ 0.05 | ||||||||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 0 | $ 43,231 | $ 295,397 | ||||||||||||
Property revenues | $ 244,919 | $ 241,770 | $ 237,133 | $ 230,683 | $ 229,827 | $ 228,178 | $ 223,370 | $ 219,521 | 954,505 | 900,896 | 876,447 | ||||
Net income attributable to common shareholders | $ 39,196 | $ 38,866 | $ 38,671 | $ 39,395 | $ 87,989 | $ 34,384 | $ 39,188 | $ 34,861 | $ 156,128 | $ 196,422 | $ 819,823 | ||||
Total earnings per common share - basic | $ 0.41 | $ 0.41 | $ 0.40 | $ 0.41 | $ 0.92 | [1] | $ 0.38 | [2] | $ 0.43 | $ 0.39 | $ 1.63 | [3] | $ 2.14 | [3] | $ 9.08 |
Total earnings per common share - diluted | $ 0.41 | $ 0.40 | $ 0.40 | $ 0.41 | 0.91 | [1] | $ 0.38 | [2] | $ 0.43 | $ 0.39 | $ 1.63 | [3] | $ 2.13 | [3] | $ 9.05 |
Income loss due to disposition of operating properties per basic share | 0.46 | ||||||||||||||
Income loss due to disposition of operating properties per diluted share | $ 0.45 | ||||||||||||||
[1] | Includes a $43,231, or $0.46 basic and $0.45 diluted per share, impact related to a gain on sale of one operating property. | ||||||||||||||
[2] | Includes a $4,987, or $0.05 basic and diluted per share, impact related to expenses due to Hurricanes Harvey and Irma. | ||||||||||||||
[3] | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. |
Schedule III - Real Estate an_3
Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,083,532 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,265,446 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 979,497 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,083,532 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,244,943 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,328,475 | $ 7,667,743 | $ 7,376,690 | $ 7,387,597 |
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,403,149 | $ 2,118,839 | $ 1,890,656 | $ 1,780,694 |
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 5,925,326 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 485,176 | |||
Current Communities [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,083,532 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,865,522 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 979,497 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,083,532 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,845,019 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,928,551 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,400,440 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 5,528,111 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 485,176 | |||
Current Communities [Member] | Camden Chandler [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,511 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 62,429 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 199 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,511 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 62,628 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 68,139 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,242 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 58,897 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,016 | |||
Current Communities [Member] | Camden Copper Square [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,825 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,672 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,892 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,825 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,564 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 36,389 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,107 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,282 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,712 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 223 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,006 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,935 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,941 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,135 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 38,806 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,254 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 150 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,248 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,404 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,652 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,812 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 38,840 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,612 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 14,159 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,068 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,771 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,839 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 26,909 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,930 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,727 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,671 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,687 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,398 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 51,085 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,289 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 41,796 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,492 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,699 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,362 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,191 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,553 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,266 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,287 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,166 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,033 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,520 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 41,199 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 52,719 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,536 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 42,183 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,045 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,382 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,480 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,427 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,907 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,856 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 22,051 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,576 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,283 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,376 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,859 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 35,235 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,444 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 28,791 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 54,210 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,382 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,381 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 64,592 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 73,973 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 34,812 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 39,161 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 96,158 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 331 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 21,492 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 96,489 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 117,981 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,770 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 104,211 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 127,459 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 23,253 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,079 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 150,712 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 166,791 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 66,559 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 100,232 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 92,699 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 75,387 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,335 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,363 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 77,722 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 95,085 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,949 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 74,136 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 45,895 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,861 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 24,154 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 28,401 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 76,015 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 104,416 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 46,188 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 58,228 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | Camden Sea Palms [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,336 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,930 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,641 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,336 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,571 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,907 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,667 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 12,240 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,998 | |||
Current Communities [Member] | The Camden [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 18,286 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 118,730 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 215 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 18,286 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 118,945 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 137,231 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,137 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 124,094 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,016 | |||
Current Communities [Member] | Camden Landmark [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 17,339 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 71,315 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,977 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,339 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 74,292 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 91,631 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,087 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 74,544 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 71,777 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,093 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 20,360 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 80,870 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 101,230 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 28,800 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 72,430 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 49,781 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,421 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,585 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 56,202 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 66,787 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 27,329 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 39,458 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,466 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,196 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,330 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 41,662 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,992 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,004 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,988 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,494 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,694 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,367 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,188 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 37,555 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,808 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 20,747 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,003 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,404 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,091 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 47,407 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 55,498 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,391 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 45,107 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,445 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,020 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,047 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,465 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 26,512 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,931 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 12,581 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 15,349 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,552 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 11,860 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,396 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 63,412 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 69,808 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,711 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 56,097 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 72,631 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 413 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,849 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 73,044 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 79,893 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,825 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 67,068 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,726 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 20,608 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,612 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 55,334 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 57,946 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 28,524 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,422 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,612 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 17,062 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,293 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 48,674 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 53,967 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 25,904 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 28,063 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 27,426 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,129 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 23,002 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,915 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 57,131 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 61,046 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 31,405 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 29,641 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 29,262 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,997 | |||
Current Communities [Member] | Camden Lincoln Station [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,648 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,762 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 86 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,648 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 51,848 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 56,496 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,015 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 51,481 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,017 | |||
Current Communities [Member] | Camden Ashburn Farms [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,835 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,604 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,758 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,835 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,362 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,197 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,441 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,756 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden College Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 16,409 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 91,503 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,950 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,409 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 98,453 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 114,862 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 25,352 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 89,510 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,548 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,558 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,807 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 67,106 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 77,913 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,346 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 55,567 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 104,223 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 13,204 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,515 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 117,427 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 132,942 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 48,905 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 84,037 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 72,953 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,642 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,484 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 82,595 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 91,079 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 33,123 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 57,956 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 43,647 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,545 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,408 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 49,192 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 58,600 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,337 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 37,263 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,900 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,981 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,688 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 38,881 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 46,569 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,927 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 30,642 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 102,267 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 24,504 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,502 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 126,771 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 142,273 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 49,157 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 93,116 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,163 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,280 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,411 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 48,443 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 56,854 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,068 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 36,786 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 54,089 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,651 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,030 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 57,740 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 66,770 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,847 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 45,923 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 82,306 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 274 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 19,442 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 82,580 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 102,022 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,430 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 84,592 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,014 | |||
Current Communities [Member] | Camden NoMa II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 17,331 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 91,211 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 39 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,331 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 91,250 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 108,581 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,378 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 96,203 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,017 | |||
Current Communities [Member] | Camden Potomac Yard [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 16,498 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 88,317 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,265 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,498 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 96,582 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 113,080 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 31,907 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 81,173 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 45,785 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,238 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,470 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 50,023 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 61,493 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,151 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 41,342 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,837 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,861 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,460 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 68,698 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 82,158 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 29,016 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 53,142 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 45,056 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Shady Grove [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 24,177 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 89,820 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 30 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 24,177 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 89,850 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 114,027 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,404 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 104,623 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,018 | |||
Current Communities [Member] | Camden Silo Creek [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 9,707 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 45,301 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,703 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,707 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 53,004 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 62,711 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,688 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 42,023 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Washingtonian [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 13,512 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 73,285 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,512 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 73,285 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 86,797 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,532 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 84,265 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,018 | |||
Current Communities [Member] | Camden Aventura [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 12,185 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 47,616 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 13,055 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,185 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 60,671 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 72,856 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 27,617 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 45,239 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 50,057 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 268 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,201 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 50,325 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 52,526 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,742 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 43,784 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 57,031 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 23,217 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,621 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 80,248 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 94,869 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 32,025 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 62,844 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,416 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,542 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,260 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 47,958 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 58,218 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,465 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 37,753 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,543 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,590 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,476 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,133 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,609 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,881 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,728 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 79,518 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 19,634 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,395 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 99,152 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 111,547 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 39,655 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 71,892 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 77,964 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 11,402 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,299 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 89,366 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 95,665 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 38,047 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 57,618 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,702 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,382 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,867 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 48,084 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 57,951 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,170 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 37,781 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,925 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,769 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,156 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,694 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 30,850 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,172 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,678 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,623 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,033 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,497 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,656 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,153 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,582 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 23,571 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 42,617 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,036 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,907 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 43,653 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 56,560 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,072 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 44,488 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,643 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,524 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,350 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 43,167 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 47,517 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 24,338 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 23,179 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,000 | |||
Current Communities [Member] | Camden North Quarter [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 9,990 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 68,471 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 742 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,990 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 69,213 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 79,203 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,641 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 75,562 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,018 | |||
Current Communities [Member] | Camden Orange Court [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,319 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,733 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,300 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,319 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 44,033 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 49,352 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,681 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 33,671 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,008 | |||
Current Communities [Member] | Camden Thornton Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 11,711 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 74,628 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 137 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,711 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 74,765 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 86,476 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,155 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 85,321 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,018 | |||
Current Communities [Member] | Camden Town Square [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 13,127 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 45,997 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 833 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,127 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 46,830 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 59,957 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,711 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 48,246 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,821 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,348 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,785 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 60,169 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 65,954 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 25,433 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 40,521 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 63,283 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 15,072 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,450 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 78,355 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 85,805 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 43,641 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 42,164 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1998/2002 | |||
Current Communities [Member] | Camden Montague [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 3,576 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,534 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 472 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,576 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,006 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 20,582 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,849 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 15,733 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Pier District [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 16,704 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 105,383 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 851 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,704 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 106,234 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 122,938 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,025 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 116,913 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,018 | |||
Current Communities [Member] | Camden Preserve [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,206 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,982 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,795 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,206 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,777 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 27,983 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,337 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,646 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,339 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,905 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,147 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 42,244 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,391 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,779 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 28,612 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,254 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 609 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,955 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,863 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 48,818 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,560 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 39,258 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden Brookwood [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,174 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,984 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,835 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,174 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,819 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 47,993 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,783 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,210 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Buckhead Square [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 13,200 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 43,785 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 657 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,200 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 44,442 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 57,642 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,928 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 54,714 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,017 | |||
Current Communities [Member] | Camden Creekstone [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 5,017 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,912 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,148 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,017 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,060 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 30,077 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,804 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,273 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,922 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,376 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,895 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,298 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 35,193 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,970 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,223 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,642 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,038 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,290 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,680 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 37,970 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,425 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 22,545 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,258 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,148 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,477 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 52,406 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 62,883 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,468 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 53,415 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,828 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,645 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,196 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 44,473 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 50,669 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,631 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 31,038 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 102,521 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 828 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,262 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 103,349 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 118,611 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,913 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 100,698 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,063 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,636 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,536 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,699 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 43,235 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,374 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 26,861 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,798 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,972 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,181 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,770 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 28,951 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,595 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 17,356 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 10,565 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,486 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,010 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,526 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,496 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 43,022 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,859 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 26,163 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,693 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,859 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,071 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,552 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,623 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,396 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 20,227 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 68,822 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,747 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,787 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 72,569 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 84,356 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,103 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 69,253 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,013 | |||
Current Communities [Member] | Camden Ballantyne [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,503 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,250 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,067 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,503 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 39,317 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 43,820 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,565 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 25,255 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,147 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,703 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,246 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,850 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 30,096 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,629 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,467 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,633 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,568 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 516 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,201 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 19,717 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,067 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 11,650 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,223 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,327 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,283 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,550 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 12,833 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,188 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 6,645 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,919 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,620 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,408 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,539 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,947 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,588 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 7,359 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Foxcroft II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,152 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,499 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,216 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,152 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,715 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 10,867 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,603 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 6,264 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,005 | |||
Current Communities [Member] | Camden Gallery [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,930 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,957 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 114 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,930 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 52,071 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 60,001 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,141 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 53,860 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,017 | |||
Current Communities [Member] | Camden Grandview [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 7,570 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,859 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 11,922 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,570 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 45,781 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 53,351 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,152 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 33,199 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,211 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 7,723 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,266 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,934 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,200 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,475 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,725 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,175 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 11,276 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,625 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,451 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 47,076 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,595 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,481 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,021 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,451 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,941 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,472 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,413 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,817 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,596 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,772 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,528 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,203 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,300 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,503 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,406 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 6,097 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,108 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,773 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,412 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,881 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,293 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,333 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 25,960 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,508 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,291 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,669 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,799 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 30,468 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,585 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,883 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,714 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 13,579 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,746 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 45,293 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 51,039 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,048 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 30,991 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 47,159 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,835 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,535 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 55,994 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 58,529 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,551 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 36,978 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,563 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,781 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,591 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,344 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,935 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,017 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 22,918 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,457 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,791 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,302 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,248 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,550 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,781 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 19,769 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,519 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,062 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,567 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 34,581 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,148 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,891 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,257 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,931 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,072 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,684 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,003 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 25,687 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,336 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,351 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 37,100 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,344 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,094 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 47,444 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 52,538 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,613 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 30,925 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,393 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,470 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,289 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,863 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 30,152 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,185 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,967 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 32,376 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 363 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,250 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,739 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 35,989 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,210 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,779 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 42,773 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 356 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,988 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 43,129 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 47,117 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,103 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 39,014 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,285 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,478 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,498 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 39,763 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 43,261 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,559 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 25,702 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,024 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 14,405 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,055 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,429 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 28,484 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,973 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 12,511 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,180 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9,511 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,204 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,691 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 19,895 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,730 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 4,165 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,993 | |||
Current Communities [Member] | Camden Addison [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 11,516 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,332 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,262 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,516 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,594 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 49,110 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,925 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 37,185 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,522 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,312 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,521 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 66,834 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 79,355 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,342 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 64,013 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,251 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,705 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,704 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,956 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 34,660 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,173 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,487 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,644 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,659 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,613 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,303 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 20,916 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,044 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 8,872 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,092 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,020 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,231 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,112 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 24,343 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,848 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 8,495 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 74,193 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 22,213 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,341 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 96,406 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 113,747 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 49,780 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 63,967 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 50,704 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,256 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 648 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,842 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,904 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 19,746 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,154 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 15,592 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,896 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,786 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,052 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,682 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,734 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,325 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 8,409 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,449 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 8,070 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,560 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,519 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 26,079 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,528 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 10,551 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 13,864 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,667 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 15,344 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,096 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,011 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,107 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 28,118 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 4,989 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1,994 | |||
Current Communities [Member] | Camden Victory Park [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 13,445 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 71,735 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 158 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,445 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 71,893 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 85,338 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,086 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 76,252 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,016 | |||
Current Communities [Member] | Camden City Centre [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,976 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,735 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 3,853 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,976 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 48,588 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 53,564 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,081 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 35,483 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 33,790 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,131 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 426 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,101 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,557 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,658 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,514 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 26,144 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 43,933 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 20,313 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,916 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 64,246 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 81,162 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 39,943 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 41,219 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 42,852 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 12,030 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,108 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 54,882 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 65,990 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,527 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 49,463 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,012 | |||
Current Communities [Member] | Camden McGowen Station [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 6,089 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 84,649 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,089 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 84,649 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 90,738 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,443 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 87,295 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2,018 | |||
Current Communities [Member] | Camden Midtown [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,583 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,026 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 10,559 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,583 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,585 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,168 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,258 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 14,910 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 28,054 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,941 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 5,890 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,078 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,831 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 28,909 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,922 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,987 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,453 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,030 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,922 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,483 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 27,405 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,789 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 20,616 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,044 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,452 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,204 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,496 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 40,700 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,188 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 31,512 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 19,357 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 92,515 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 18,434 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,056 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 110,949 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 125,005 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,852 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 102,153 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,046 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 2,839 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,055 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,885 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 23,940 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,387 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,553 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,743 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 25 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 587 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,768 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,355 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,457 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 9,898 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,137 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 6,717 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,016 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,854 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,870 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,384 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 5,486 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,594 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 4,251 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,614 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,845 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,459 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,428 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 31,031 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,104 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,284 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,780 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,388 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,168 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,120 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 22,048 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,918 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 25,144 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,076 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 70,062 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 86,138 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 47,043 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 39,095 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 73,155 | |||
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 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,242 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,711 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,188 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,953 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,141 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,392 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,749 | |||
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 | 277,778 | |||
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 | 277,778 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 277,778 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,709 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 275,069 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Construction Communities [Member] | Camden North End I [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 95,865 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 95,865 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 95,865 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,596 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 93,269 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden Grandview II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 21,267 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,267 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,267 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 113 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,154 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden RiNo [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 41,594 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 41,594 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 41,594 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 41,594 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden Downtown I [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 58,963 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 58,963 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 58,963 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 58,963 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden Lake Eola [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 34,016 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 34,016 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 34,016 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 34,016 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden Buckhead [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 26,073 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,073 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 26,073 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 26,073 | |||
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 | 107,642 | |||
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 | 107,642 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 107,642 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 107,642 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||
Development Pipeline Communities [Member] | Camden Atlantic [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,666 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 16,666 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 16,666 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 16,666 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden Arts District [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 21,471 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,471 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,471 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,471 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden Hillcrest [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 28,853 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,853 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 28,853 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 28,853 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden North End II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 15,301 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,301 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 15,301 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 15,301 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden Paces III [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 14,632 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,632 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,632 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,632 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden Downtown II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 10,719 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,719 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 10,719 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,719 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Corporate [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,504 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | ||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,504 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,504 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | ||||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,504 | |||
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 | 14,504 | |||
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 | 14,504 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,504 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 14,504 | |||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | $ 0 |
Schedule III - Real Estate an_4
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule III - Real Estate and Accumulated Depreciation [Abstract] | |||
Balance, beginning of period | $ 7,667,743 | $ 7,376,690 | $ 7,387,597 |
Acquisition of operating properties and unconsolidated joint ventures | 286,901 | 56,985 | 0 |
Development and repositions | 300,294 | 224,202 | 278,447 |
Improvements | 84,841 | 71,889 | 65,892 |
Cost of real estate sold – other | (11,304) | (62,023) | (355,246) |
Balance, end of period | 8,328,475 | 7,667,743 | 7,376,690 |
Balance, Beginning of period | 2,118,839 | 1,890,656 | 1,780,694 |
Depreciation of real estate assets | 284,310 | 255,924 | 243,403 |
Dispositions | 0 | (27,741) | (133,441) |
Balance, End of period | 2,403,149 | $ 2,118,839 | $ 1,890,656 |
Real Estate, Federal Income Tax Basis | $ 7,500,000 |
Schedule IV - Mortgage Loans _3
Schedule IV - Mortgage Loans on Real Estate (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule IV - Mortgage Loans on Real Estate [Line Items] | ||||
Federal Income Tax Basis | $ 9,314 | |||
Carrying amount of mortgages | $ 9,314 | $ 18,790 | $ 17,224 | $ 13,161 |
Interest Rate on Mortgage Loans | 4.00% | 4.00% | ||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Final Maturity Date | Oct. 1, 2025 | |||
Parking Garage, Developer Advances [Member] | ||||
Schedule IV - Mortgage Loans on Real Estate [Line Items] | ||||
Face Amount of Mortgage Loans | $ 9,314 | |||
Carrying amount of mortgages | $ 9,314 | |||
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 _4
Schedule IV - Mortgage Loans on Real Estate (Changes in Mortgage Loans) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] | |||
Balance, beginning of period | $ 18,790 | $ 17,224 | $ 13,161 |
Advances under real estate loans | 0 | 1,566 | 7,458 |
Deductions | (9,476) | 0 | (3,395) |
Balance, end of period | $ 9,314 | $ 18,790 | $ 17,224 |