Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 13, 2020 | Jun. 30, 2019 | |
Entity Information [Line Items] | |||
Document Type | 10-K | ||
Title of 12(b) Security | Common Shares of Beneficial Interest, $.01 par value | ||
City Area Code | (713) | ||
Local Phone Number | 354-2500 | ||
Entity Incorporation, State or Country Code | TX | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity Tax Identification Number | 76-6088377 | ||
Entity Address, Address Line One | 11 Greenway Plaza, Suite 2400 | ||
Entity Address, City or Town | Houston, | ||
Entity Address, State or Province | TX | ||
Entity Address, Postal Zip Code | 77046 | ||
Security Exchange Name | NYSE | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity File Number | 1-12110 | ||
Entity Registrant Name | CAMDEN PROPERTY TRUST | ||
Entity Central Index Key | 0000906345 | ||
Trading Symbol | CPT | ||
Document Period End Date | Dec. 31, 2019 | ||
Amendment Flag | false | ||
Entity Shell Company | false | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Public Float | $ 10,045,538,849 | ||
Share Price | $ 104.39 | ||
Entity Common Stock, Shares Outstanding | 97,326,277 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Land | $ 1,199,384 | $ 1,098,526 |
Buildings and improvements | 7,404,090 | 6,935,971 |
Real estate assets, at cost, total | 8,603,474 | 8,034,497 |
Accumulated depreciation | (2,686,025) | (2,403,149) |
Net operating real estate assets | 5,917,449 | 5,631,348 |
Properties under development, including land | 512,319 | 293,978 |
Investments in joint ventures | 20,688 | 22,283 |
Total real estate assets | 6,450,456 | 5,947,609 |
Accounts receivable – affiliates | 21,833 | 22,920 |
Other assets, net | 248,716 | 205,454 |
Cash and cash equivalents | 23,184 | 34,378 |
Restricted cash | 4,315 | 9,225 |
Total assets | 6,748,504 | 6,219,586 |
Liabilities | ||
Unsecured notes payable | 2,524,099 | 1,836,427 |
Secured notes payable | 0 | 485,176 |
Accounts payable and accrued expenses | 171,719 | 146,866 |
Accrued real estate taxes | 54,408 | 54,358 |
Distributions payable | 80,973 | 74,982 |
Other liabilities | 215,581 | 183,999 |
Total liabilities | 3,046,780 | 2,781,808 |
Commitments and contingencies (Note 14) | ||
Non-qualified deferred compensation share awards | 0 | 52,674 |
Equity | ||
Common shares of beneficial interest; $0.01 par value per share; 175,000 shares authorized; 109,110 and 105,503 issued; 106,878 and 103,080 outstanding at December 31, 2019 and 2018, respectively | 1,069 | 1,031 |
Additional paid-in capital | 4,566,731 | 4,154,763 |
Distributions in excess of net income attributable to common shareholders | (584,167) | (495,496) |
Treasury shares, at cost (9,636 and 9,841 common shares, at December 31, 2019 and 2018, respectively) | (348,419) | (355,804) |
Accumulated other comprehensive income (loss) | (6,529) | 6,929 |
Total common equity | 3,628,685 | 3,311,423 |
Non-controlling interests | 73,039 | 73,681 |
Total equity | 3,701,724 | 3,385,104 |
Total liabilities and equity | $ 6,748,504 | $ 6,219,586 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
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 | 109,110 | 105,503 |
Common shares, outstanding | 106,878 | 103,080 |
Treasury shares, at cost | 9,636 | 9,841 |
Consolidated Statements Of Inco
Consolidated Statements Of Income And Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||||
Property revenues | |||||||
Property revenues | $ 1,028,461 | $ 954,505 | $ 900,896 | ||||
Property expenses | |||||||
Property operating and maintenance | 235,589 | 220,732 | 217,817 | ||||
Real estate taxes | 130,758 | 122,847 | 110,925 | ||||
Total property expenses | 366,347 | 343,579 | 328,742 | ||||
Non-property income | |||||||
Fee and asset management | 8,696 | 7,231 | 8,176 | ||||
Interest and other income | 3,090 | 2,101 | 3,011 | ||||
Income (loss) on deferred compensation plans | 21,694 | (6,535) | 16,608 | ||||
Total non-property income | 33,480 | 2,797 | 27,795 | ||||
Other expenses | |||||||
Property management | 25,290 | 25,581 | 25,773 | ||||
Fee and asset management | 5,759 | 4,451 | 3,903 | ||||
General and administrative | 53,201 | 50,735 | 50,587 | ||||
Interest | 80,706 | 84,263 | 86,750 | ||||
Depreciation and amortization | 336,274 | 300,946 | 263,974 | ||||
Expense (benefit) on deferred compensation plans | 21,694 | (6,535) | 16,608 | ||||
Total other expenses | 522,924 | 459,441 | 447,595 | ||||
Loss on early retirement of debt | (11,995) | 0 | (323) | ||||
Gain on sale of operating properties | 49,901 | 0 | 43,231 | ||||
Equity in income of joint ventures | [1] | 14,783 | [2] | 7,836 | 6,822 | [2] | |
Income from continuing operations before income taxes | 225,359 | 162,118 | 202,084 | ||||
Income tax expense | (1,089) | (1,424) | (1,224) | ||||
Net income | 224,270 | 160,694 | 200,860 | ||||
Less income allocated to non-controlling interests | (4,647) | (4,566) | (4,438) | ||||
Net income attributable to common shareholders | $ 219,623 | $ 156,128 | $ 196,422 | ||||
Total earnings per share – basic | $ 2.23 | [3] | $ 1.63 | [3] | $ 2.14 | ||
Total earnings per share – diluted | $ 2.22 | [3] | $ 1.63 | [3] | $ 2.13 | ||
Weighted average number of common shares outstanding – basic | 98,460 | 95,208 | 91,499 | ||||
Weighted average number of common shares outstanding – diluted | 99,384 | 95,366 | 92,515 | ||||
Consolidated Statements of Comprehensive Income: | |||||||
Net income | $ 224,270 | $ 160,694 | $ 200,860 | ||||
Other comprehensive income | |||||||
Unrealized gain (loss) on cash flow hedging activities | (12,998) | 6,782 | 1,690 | ||||
Unrealized gain (loss) and unamortized prior service cost on post retirement obligation | (449) | 450 | (20) | ||||
Reclassification of net (gain) loss on cash flow hedging activities, prior service cost and net loss on post retirement obligation | (11) | (246) | 136 | ||||
Comprehensive income | 210,812 | 167,680 | 202,666 | ||||
Less income allocated to non-controlling interests | (4,647) | (4,566) | (4,438) | ||||
Comprehensive income attributable to common shareholders | $ 206,165 | $ 163,114 | $ 198,228 | ||||
[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 year ended December 31, 2019 includes our ownership interest of the gain on sale of the operating property of approximately $6.2 million . Equity in income for the year ended December 31, 2017 includes our ownership interest of the hurricane related insurance recoveries and expenses of approximately $0.4 million . | ||||||
[3] | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. |
Consolidated Statements Of Equi
Consolidated Statements Of Equity - USD ($) $ 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, 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 | 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 | |||||
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 |
Net Income | 224,270 | 219,623 | 4,647 | ||||
Other comprehensive income | (13,458) | (13,458) | |||||
Proceeds from issuance of common shares | 353,213 | 36 | 353,177 | ||||
Net share awards | 20,199 | 13,609 | 6,590 | ||||
Employee share purchase plan | 2,333 | 1,538 | 795 | ||||
Reclassifications of Temporary to Permanent Equity | 43,311 | 9,363 | |||||
Diversification of share awards within deferred compensation plan | 52,674 | ||||||
Conversions and redemptions of operating partnership units | 0 | 304 | (304) | ||||
Cash distributions declared to equity holders | (323,264) | (317,657) | (5,607) | ||||
Other | 653 | 2 | 29 | 622 | |||
Equity, Ending Balance at Dec. 31, 2019 | $ 3,701,724 | $ 1,069 | $ 4,566,731 | $ (584,167) | $ (348,419) | $ (6,529) | $ 73,039 |
Consolidated Statements Of Eq_2
Consolidated Statements Of Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Common shares issued | 3,599 | 0 | 4,778 |
Conversions and redemptions of operating partnership units | 8 | 2 | 3 |
Cash distributions declared to equity holders per share | $ 3.20 | $ 3.08 | $ 3 |
Additional Paid-In Capital | |||
Common share options exercised | 0 | 8 | 11 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Cash flows from operating activities | ||||||
Net income | $ 224,270 | $ 160,694 | $ 200,860 | |||
Adjustments to reconcile net income to net cash from operating activities: | ||||||
Depreciation and amortization | 336,274 | 300,946 | 263,974 | |||
Loss on early retirement of debt | 11,995 | 0 | 323 | |||
Gain on sale of operating properties | (49,901) | 0 | (43,231) | |||
Distributions of income from joint ventures | 14,843 | 7,736 | 6,851 | |||
Equity in income of joint ventures | [1] | (14,783) | [2] | (7,836) | (6,822) | [2] |
Share-based compensation | 15,235 | 16,749 | 17,547 | |||
Net change in operating accounts and other | 38,094 | 9,553 | (4,846) | |||
Receipts for settlement of forward interest rate swaps | (20,430) | 15,905 | ||||
Net cash from operating activities | 555,597 | 503,747 | 434,656 | |||
Cash flows from investing activities | ||||||
Development and capital improvements, including land | (407,558) | (359,230) | (299,086) | |||
Acquisition of operating property | (436,305) | (290,005) | (58,267) | |||
Proceeds from sales of operating properties, including land | 67,572 | 11,296 | 76,902 | |||
Increase in non-real estate assets | (17,197) | (14,503) | (5,128) | |||
Decrease (increase) in notes receivable | 1,394 | 9,475 | (1,988) | |||
Maturity of short-term investments | 0 | 0 | 100,000 | |||
Other | (351) | 2,046 | (2,187) | |||
Net cash from investing activities | (792,445) | (640,921) | (189,754) | |||
Cash flows from financing activities | ||||||
Borrowings on unsecured credit facility and other short-term borrowings | 1,217,000 | 342,000 | 465,000 | |||
Repayments on unsecured credit facility and other short-term borrowings | (1,173,000) | (342,000) | (465,000) | |||
Repayment of notes payable | (746,730) | (381,438) | (278,999) | |||
Proceeds from notes payable | 889,979 | 495,545 | 0 | |||
Distributions to common shareholders and non-controlling interests | (317,253) | (298,005) | (280,761) | |||
Payment of deferred financing costs | (5,965) | (914) | (978) | |||
Proceeds from issuance of common shares | 353,213 | 0 | 445,038 | |||
Repurchase of common shares and redemption of units | 0 | (14,668) | 0 | |||
Other | 3,500 | 2,452 | 2,777 | |||
Net cash from financing activities | 220,744 | (197,028) | (112,923) | |||
Net increase (decrease) in cash, cash equivalents, and restricted cash | (16,104) | (334,202) | 131,979 | |||
Cash, cash equivalents, and restricted cash, beginning of year | 43,603 | 377,805 | 245,826 | |||
Cash, cash equivalents, and restricted cash, end of year | 27,499 | 43,603 | 377,805 | |||
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets [Abstract] | ||||||
Total cash, cash equivalents, and restricted cash | 27,499 | 377,805 | 377,805 | |||
Supplemental information | ||||||
Cash paid for interest, net of interest capitalized | 71,248 | 81,299 | 88,654 | |||
Cash paid for income taxes | 1,291 | 1,951 | 1,705 | |||
Supplemental schedule of noncash investing and financing activities | ||||||
Distributions declared but not paid | 80,973 | 74,982 | 72,943 | |||
Value of shares issued under benefit plans, net of cancellations | 18,249 | 17,253 | 18,061 | |||
Accrual associated with construction and capital expenditures | 27,162 | 35,588 | 19,016 | |||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 15,017 | $ 0 | $ 0 | |||
[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 year ended December 31, 2019 includes our ownership interest of the gain on sale of the operating property of approximately $6.2 million . Equity in income for the year ended December 31, 2017 includes our ownership interest of the hurricane related insurance recoveries and expenses of approximately $0.4 million . |
Description Of Business
Description Of Business | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 , we owned interests in, operated, or were developing 172 multifamily properties comprised of 58,315 apartment homes across the United States. Of the 172 properties, eight properties were under construction, and will consist of a total of 2,208 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, 2019 | |
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, 2019 , 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. As of December 31, 2019 , we held approximately 92% and 95% of the outstanding common limited partnership units and the sole 1% general partnership interest in each of these consolidated operating partnerships. Acquisitions of Real Estate . Upon the 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 consolidated balance sheets. During the years ended December 31, 2019 , 2018 , and 2017, we recognized amortization expense of approximately $10.4 million , $9.4 million , and $1.3 million , respectively, related to in-place leases. The net amortization of above-market and below-market leases increased rental revenues by $0.1 million and $0.2 million during the years ended December 31, 2019 and 2018 , respectively. We did not recognize any net amortization of above-market and below-market leases during the year ended December 31, 2017 . During the year ended December 31, 2019 , the weighted average amortization periods for both in-place and net above and below market leases were approximately six months . During the year ended December 31, 2018 , the weighted average amortization period for in-place and net above and below market leases were approximately seven months and five months . During the year ended December 31, 2017 , the weighted average amortization period for in-place leases was approximately six months. 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. When impairment exists, the long-lived asset is adjusted to its fair value. In estimating fair value, management uses appraisals, management estimates, and discounted cash flow calculations which utilize inputs from a marketplace participant’s perspective. 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, 2019 , 2018 , or 2017 . 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 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 $14.1 million , $13.6 million , and $15.2 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. Capitalized real estate taxes were approximately $2.8 million , $2.2 million , and $2.4 million for the years ended December 31, 2019 , 2018 , and 2017 , 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 costs 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. 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 presented on a gross basis for financial reporting purposes even when those instruments are subject to master netting arrangements and may otherwise qualify for net presentation. 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. Assets Held for Sale (Including Discontinued Operations) . Disposed of properties are 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. 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 when the criteria for derecognition of an asset is met, including when a contract exists and the buyer obtained control of the nonfinancial asset sold, in accordance with accounting principles generally accepted in the United States of America ("GAAP"). As a result, most of our future contributions of nonfinancial assets to our joint ventures, if any, will result in the recognition of a full gain or loss as if we sold 100% of the nonfinancial asset. 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." 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, 2019 and 2018 , the carrying values of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and distributions payable represent fair value because of the short-term nature of these instruments. The carrying value of restricted cash approximates its fair value based on the nature of our assessment of the ability to recover these amounts. The carrying value of our notes receivable, which are included in other assets, net in our consolidated balance sheets, approximates their fair value. The estimated fair values are based on certain factors, such as market interest rates, terms of the note, and credit worthiness of the borrower. These financial instruments utilize Level 3 inputs. In calculating the fair value of our notes payable, interest rate, and spread assumptions reflect current credit worthiness and market conditions available for the issuance of notes payable with similar terms and remaining maturities. These financial instruments utilize Level 2 inputs. Income Recognition . On January 1, 2019, we adopted Accounting Standards Update ("ASU") 2016-02, "Leases" which is codified as ASC 842, Leases . The majority of our revenues are derived from real estate lease contracts which are accounted for pursuant to ASC 842 and presented as property revenues, which include rental revenue and revenue from amounts received under contractual terms for other services provided to our customers. Our other revenue streams include fee and asset management income in accordance with other revenue guidance, ASC 606, Revenues from Contracts with Customers . A detail of these revenue streams are discussed below: Property Revenue : We earn rental revenue from operating lease contracts for the use of dedicated spaces within owned assets which is recognized on a straight-line basis over the applicable lease term, net of amounts related to lease contracts identified as uncollectible. We also earn revenues from amounts received under contractual terms for other services considered non-lease components within a lease contract, primarily consisting of utility rebillings and other transactional fees, and are charged to our residents and recognized monthly as earned. We elected the practical expedient under ASU 2016-02 to not separate lease and non-lease components and have presented our property revenues combined based upon the lease being determined to be the predominant component. Any uncollectible amounts related to individual lease contracts are presented as an adjustment to property revenue. Any renewal options of real estate lease contracts are considered a new, separate contract and will be recognized at the time the option is exercised on a straight-line basis over the renewal period. As of December 31, 2019 , our average residential lease term was between twelve months to fifteen months with all other commercial leases averaging longer lease terms. We anticipate property revenue from existing leases as follows: (in millions) Year ended December 31, Operating Leases 2020 $ 666.0 2021 34.1 2022 5.5 2023 4.9 2024 4.1 Thereafter 28.3 Total $ 742.9 Fee and Asset Management Income : We receive property management, asset management, and development and construction fees from our joint ventures for managing the ventures and managing the activities, development, and construction 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 earn construction fees for construction management and general contracting services we provide to third-party owners of multifamily and commercial 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. 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, 2019 and 2018 , these contract receivable and liability balances were immaterial. Credit Risk. 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 amounts have been presented separately within financing activities in the consolidated statements of cash flows for the years ended December 31, 2018 and 2017 to conform to the current-year presentation. These changes in presentation had no impact in consolidated cash flows from financing activities. Upon our adoption of ASU 2016-02 on January 1, 2019 we were required, based on our election of a practical expedient, to combine lessor lease and non-lease components as a single component under certain conditions. For the years ended December 31, 2018 and 2017, we combined other property revenues of $112.5 million and $130.4 million , respectively, with rental revenues of $842.0 million and $770.5 million , respectively, to conform to the current year presentation. Insurance . Our primary lines of insurance coverage are property, general liability, health, workers’ compensation, and cyber security. 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, operating lease right-of-use assets, 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 11, “Share-based Compensation and Benefit Plans.” Deferred financing costs are related to our unsecured credit facility, and are amortized no longer than the terms of the related facility on the straight-line method, which approximates the effective interest method. Corporate leasehold improvements and equipment includes expenditures related to renovation and construction of office space we lease. These leasehold improvements 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 2019, we received payments of approximately $1.4 million in principal and approximately $0.6 million in interest on this note which matures on October 1, 2025. At December 31, 2019 and 2018 , the outstanding note receivable balance was approximately $7.9 million and $9.3 million , respectively, and the weighted average interest rate was approximately 7.0% and 4.0% , respectively. 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. 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, 2019 or 2018 . 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 property revenue through the leasing of apartment homes, which comprised approximately 99% of our total property revenues and total non-property income, excluding income (loss) on deferred compensation plans, for each of the years ended December 31, 2019 , 2018 , and 2017 . 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 August 2018, the Financial Accounting Standards Board ("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 aligns the accounting for costs incurred to implement a cloud computing arrangement which is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software. 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 costs for activities on service contracts entered, renewed, materially modified, or performed 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 adopted as of January 1, 2020, using the prospective transition method and will present future qualified capitalizable costs relating to new completed cloud computing arrangements which are service arrangements as prepaid assets within other assets on our consolidated balance sheets, as cash flows from operating activities on our consolidated statement of cash flows, and the associated amortization as general and administrative expenses on our consolidated statements of income and comprehensive income. Our adoption of ASU 2018-15 will not have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, "Leases." ASU 2016-02 and its related amendments codify ASC 842 and provides new guidance for accounting for leases. We adopted ASC 842 as of January 1, 2019 using the transition method which allows us to recognize a cumulative-effect adjustment to the opening balance of retained earnings as of the adoption date and to initially apply the new lease standard to leases which existed as of January 1, 2019. Upon our adoption of ASC 842, as a lessee we recorded a right-of-use asset and a corresponding liability in our consolidated balance sheet, as a lessor we now present combined lease and non-lease components as a single component in our consolidated statement of income and comprehensive income, and this ASU did not have an impact on the opening balance of retained earnings as of the adoption date. In addition to the transition practical expedient, we elected other practical expedients during our adoption of the new lease standard. For both lessor and lessee contracts, we elected the practical expedient package to not reassess: (i) whether any expired or existing contract was a lease or contained a lease, (ii) the lease classification of any expired or existing leases, and (iii) the accounting for initial direct costs for any existing leases. As a lessor, we also elected practical expedients to: • not separate the lease and non-lease components by class of underlying assets and account for the combined components as a single component under certain conditions, and • exclude from lease revenues the sales taxes collected from lessees and certain lessor costs paid directly by the lessee (as of the date of adoption, we did not have material sales tax collected from customers or lessor costs paid by customers). As a lessee, we also elected the practical expedients to: • use hindsight to determine lease terms and impairment of the right-of-use assets for existing lease contracts, • not separate lease and non-lease components by class of underlying asset when certain conditions are met which is consistent with our current accounting, and • not recognize short-term lease contracts with a duration of 12 months or less (short-term leases) in our consolidated balance sheet. We earn inco |
Per Share Data
Per Share Data | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Per Share Data | 3. Per Share Data Basic earnings per share are computed using net income attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflect common shares issuable from the assumed conversion of common share options and share awards granted and units convertible into common shares. Only those items having a dilutive impact on our basic earnings per share are included in diluted earnings per share. Our unvested share-based awards are considered participating securities and are reflected in the calculation of basic and diluted earnings per share using the two-class method. The number of common share equivalent securities excluded from the diluted earnings per share calculation was approximately 1.1 million , 2.1 million , and 1.5 million for the years ended December 31, 2019 , 2018 , and 2017 , 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) 2019 2018 2017 Earnings per common share calculation – basic Income from continuing operations attributable to common shareholders $ 219,623 $ 156,128 $ 196,422 Amount allocated to participating securities (539 ) (1,107 ) (660 ) Net income attributable to common shareholders – basic $ 219,084 $ 155,021 $ 195,762 Total earnings per common share – basic $ 2.23 $ 1.63 $ 2.14 Weighted average number of common shares outstanding – basic 98,460 95,208 91,499 Earnings per common share calculation – diluted Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities $ 219,084 $ 155,021 $ 195,762 Income allocated to common units from continuing operations 1,593 — 1,174 Net income attributable to common shareholders – diluted $ 220,677 $ 155,021 $ 196,936 Total earnings per common share – diluted $ 2.22 $ 1.63 $ 2.13 Weighted average number of common shares outstanding – basic 98,460 95,208 91,499 Incremental shares issuable from assumed conversion of: Common share options and share awards granted 119 158 211 Common units 805 — 805 Weighted average number of common shares outstanding – diluted 99,384 95,366 92,515 |
Common Shares
Common Shares | 12 Months Ended |
Dec. 31, 2019 | |
Stockholders' Equity Note [Abstract] | |
Common Shares [Text Block] | 4. 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, 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 years ended December 31, 2019 and 2017: Year Ended December 31, (in thousands, except per share amounts) 2019 2017 Total net consideration $ 24,839.1 $ 2,513.6 Common shares sold 224.3 28.1 Average price per share $ 111.88 $ 90.44 As of the date of this filing, we had common shares having an aggregate offering price of up to $287.7 million remaining available for sale under the 2017 ATM program. No additional shares were sold under the 2017 ATM program subsequent to December 31, 2019 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. For the year ended December 31, 2018, we repurchased 3,222 common shares for approximately $0.3 million . There were no repurchases under this program for the years ended December 31, 2017 or 2019 or through 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 as of 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, 2019 , we had approximately 97.2 million common shares outstanding, net of treasury shares and shares held in our deferred compensation arrangements, and no preferred shares outstanding. In February 2019, we issued approximately 3.4 million common shares in an underwritten equity offering and received approximately $328.4 million in net proceeds, which we used to acquire one operating property in Scottsdale, Arizona, and repay amounts on our unsecured line of credit and certain secured conventional mortgage debt. In the first quarter of 2020, the Company's Board of Trust Managers declared a first quarter dividend of $0.83 per common share to our common shareholders of record as of March 31, 2020. |
Operating Partnerships
Operating Partnerships | 12 Months Ended |
Dec. 31, 2019 | |
Operating Partnerships [Abstract] | |
Operating Partnerships [Text Block] | 5. Operating Partnerships At December 31, 2019 , 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, 2019 , 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, 2019 , approximately 32% 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, 2019 , 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 0.9 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 trust managers own Camden Summit Partnership common limited partnership units. We made no material changes to any operating partnership agreements during the year ended December 31, 2019. 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, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 6. Income Taxes We have maintained and intend to maintain our election as a REIT under the Internal Revenue Code of 1986, as amended. In order for us to continue to qualify as a REIT we must meet a number of organizational and operational requirements, including a requirement to distribute annual dividends to our shareholders equal to a minimum of 90% of our adjusted taxable income. As a REIT, we generally will not be subject to federal income tax on our taxable income at the corporate level to the extent such income is distributed to our shareholders annually. If our taxable income exceeds our dividends in a tax year, REIT tax rules allow us to designate dividends from the subsequent tax year in order to avoid current taxation on undistributed income. If we fail to qualify as a REIT in any taxable year, we may be subject to federal and state income taxes for such year. In addition, we may not be able to requalify as a REIT for the four subsequent taxable years and may be subject to federal and state income taxes in those years as well. 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, 2019 , 2018 and 2017 as income tax expense. Income taxes for the years ended December 31, 2019 , 2018 and 2017 , 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, 2019 , 2018 and 2017 is set forth in the following table: Year Ended December 31, 2019 2018 2017 Common Share Distributions Ordinary income $ 2.53 $ 2.99 $ 2.38 Long-term capital gain 0.46 0.09 0.41 Unrecaptured Sec. 1250 gain 0.21 — 0.21 Total $ 3.20 $ 3.08 $ 3.00 We have taxable REIT subsidiaries which are subject to federal and state income taxes. At December 31, 2019 , our taxable REIT subsidiaries had immaterial net operating loss carryforwards (“NOL’s”) related to 2017 and prior which expire in years 2034 to 2037 and no benefits related to these NOL’s have been recognized in our consolidated financial statements. For any post 2017 NOL's, the NOL can be carried forward indefinitely, however, usage of the NOL is limited to 80% of any year's taxable income. The carrying value of net assets reported in our consolidated financial statements at December 31, 2019 exceeded the tax basis by approximately $1.3 billion . Income Tax Expense . We had income tax expense of approximately $1.1 million , $1.4 million and $1.2 million for the tax years ended December 31, 2019 , 2018 and 2017 , respectively, which 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, 2019 , 2018 , and 2017 , 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 2016 through 2018 . Tax attributes generated in years prior to 2016 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, 2019 | |
Property, Plant and Equipment [Abstract] | |
Acquisitions, Dispositions, Impairment, and Discontinued Operations [Text Block] | 7. Acquisitions and Dispositions Asset Acquisition of Operating Properties. In December 2019, we acquired one operating property comprised of 186 apartment homes in Raleigh, North Carolina for approximately $75.1 million , and one operating property comprised of 552 apartment homes in Houston, Texas for approximately $147.2 million . In M ay 2019, we acquired one operating property comprised of 326 apartment homes located in Austin, Texas for approximately $120.4 million . In February 2019, we acquired one operating property comprised of 316 apartment homes located in Scottsdale, Arizona for approximately $97.1 million . 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 . Acquisitions of Land. In connection with the acquisition of the operating property in Houston, Texas in December 2019, we acquired approximately 2.3 acres of land adjacent to the operating property for approximately $8.0 million for the future development of approximately 300 apartment homes. In May 2019, we acquired approximately 11.6 acres of land in Tempe, Arizona for approximately $18.0 million for the development of approximately 400 apartment homes. In April 2019, we acquired approximately 4.3 acres of land in Charlotte, North Carolina for approximately $10.9 million for the development of approximately 400 apartment homes. During the year ended December 31, 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 apartment homes. During the year ended December 31, 2017 , we acquired approximately 8.2 acres of land in San Diego, California for approximately $20.0 million for the development of approximately 132 apartment homes. In January 2020, we acquired 4.9 acres of land in Raleigh, North Carolina for approximately $18.2 million for the future development of approximately 355 apartment homes. Land Holding Dispositions. During the year ended December 31, 2018 , we sold approximately 14.1 acres of land adjacent to two development properties in Phoenix, Arizona for approximately $11.5 million . We did not sell any land during the years ended December 31, 2019 or 2017 . Sale of Operating Properties. During the year ended December 31, 2019, we sold our remaining three operating properties in Corpus Christi, Texas. The operating properties sold included two consolidated communities comprised of 632 apartment homes and one joint venture community comprised of 270 apartment homes. The total net proceeds recognized from the disposition of the two consolidated communities was approximately $69.4 million and we recognized a gain of approximately $49.9 million . See Note 8, "Investments in Joint Ventures" for further discussion of the joint venture community. 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 |
Investments In Joint Ventures
Investments In Joint Ventures | 12 Months Ended |
Dec. 31, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments In Joint Ventures | 8. Investments in Joint Ventures Our equity investments in unconsolidated joint ventures, which we account for utilizing the equity method of accounting, consists of three funds (collectively, the "Funds"). At December 31, 2019 , 2018 , and 2017 , 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 . In June 2019, we amended the third fund's agreement, among other things, to reduce the investments from $450.0 million to approximately $360.0 million and increase our ownership interest from 20% to 40% . This third fund did not own any properties in 2019 , 2018 , or 2017 . 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) 2019 2018 Total assets $ 685.0 $ 695.2 Total third-party debt 496.9 510.7 Total equity 153.4 158.4 2019 2018 2017 Total revenues $ 131.7 $ 127.4 $ 121.9 Gain on sale of operating property (1) 19.8 — — Net income (2) 37.5 16.4 13.5 Equity in income (3) (4) 14.8 7.8 6.8 (1) In December 2019, one of the funds sold one operating property comprised of 270 apartment homes for approximately $38.5 million . (2) Net income for the year ended December 31, 2017 includes approximately $1.3 million of property expense relating to Hurricanes Harvey and Irma in the third quarter of 2017. (3) Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds. (4) Equity in income for the year ended December 31, 2019 includes our ownership interest of the gain on sale of the operating property of approximately $6.2 million . Equity in income for the year ended December 31, 2017 includes our ownership interest of the hurricane related insurance recoveries and expenses of approximately $0.4 million . The Funds in which we have a partial interest have been funded in part with secured third-party debt. As of December 31, 2019 , 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 $6.8 million , $5.7 million , and $5.8 million for the years ended December 31, 2019 , 2018 , and 2017 |
Notes Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2019 | |
Notes Payable [Abstract] | |
Notes Payable | 9. Notes Payable The following is a summary of our indebtedness: December 31, (in millions) 2019 2018 Commercial banks Unsecured credit facility $ 44.0 $ — 2.70% Term loan, due 2022 99.7 99.6 $ 143.7 $ 99.6 Senior unsecured notes ( 1 ) 4.78% Notes, due 2021 $ — $ 249.1 3.15% Notes, due 2022 348.0 347.3 5.07% Notes, due 2023 248.4 248.0 4.36% Notes, due 2024 249.0 248.7 3.68% Notes, due 2024 248.0 247.6 3.74% Notes, due 2028 396.7 396.1 3.67% Notes, due 2029 593.7 — 3.41% Notes, due 2049 296.6 — $ 2,380.4 $ 1,736.8 Total unsecured notes payable $ 2,524.1 $ 1,836.4 Secured notes 4.38% Conventional Mortgage Loan, due 2045 $ — $ 45.9 5.19% Conventional Mortgage Notes, due 2019 — 419.9 5.33% Conventional Mortgage Loan, due 2019 — 19.4 $ — $ 485.2 Total notes payable (1) $ 2,524.1 $ 2,321.6 Value of real estate assets, at cost, subject to secured notes $ — $ 867.9 (1) Unamortized debt discounts and debt issuance costs of $19.9 million and $13.9 million are included in senior unsecured and secured notes payable as of December 31, 2019 and 2018 , respectively. In March 2019, we amended and restated our $600 million unsecured credit facility to, among other things, extend the maturity date from August 2019 to March 2023, with two options to further extend the facility at our election for two additional six month periods, and increase the facility from $600 million to $900 million , which may be expanded three times by up to an additional $500 million upon satisfaction of certain conditions. The interest rate on our unsecured 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 our 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 $450 million or the remaining amount available under our credit facility. Our credit facility is subject to customary financial covenants and limitations. We believe we are in compliance with all such financial covenants and limitations as of December 31, 2019 through 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, 2019 , we had approximately $44.0 million of borrowings outstanding on our $900 million credit facility and we had outstanding letters of credit totaling approximately $8.9 million , leaving approximately $847.1 million available under our credit facility. In the first quarter of 2019, we repaid approximately $439.3 million of secured conventional mortgage debt utilizing our unsecured credit facility and proceeds from our equity offering completed in February 2019. In June 2019, we issued $600.0 million aggregate principal amount of 3.150% senior unsecured notes due July 1, 2029 (the "2029 Notes") under our existing shelf registration statement. The 2029 Notes were offered to the public at 99.751% of their face amount with a stated rate of 3.150% and a yield to maturity of 3.179% . In anticipation of the offering of the 2029 Notes, we initiated forward interest rate swap agreements with an aggregate notional amount of $300.0 million . After giving effect to the settlement of the swap agreements, which will be recognized over the first seven years of the 2029 Notes as discussed below in Note 10, "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 2029 Notes is approximately 3.84% through June 2026, and approximately 3.28% thereafter, for an all-in average effective rate of approximately 3.67% . We received net proceeds of approximately $593.4 million , net of underwriting discounts and other estimated offering expenses. Interest on the 2029 Notes is payable semi-annually on January 1 and July 1, beginning January 1, 2020. We may redeem the 2029 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 2029 Notes 90 days or fewer prior to the maturity date, the redemption price will equal 100% of the principal amount of the 2029 Notes to be redeemed plus accrued and unpaid interest on the amount being redeemed to the redemption date. The 2029 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 2029 Notes to repay outstanding balances on our unsecured line of credit in June 2019, the prepayment of secured debt in late October 2019 (discussed below) and for general corporate purposes which included property development, capital expenditures, and working capital. In October 2019, we issued $300.0 million aggregate principal amount of 3.350% senior unsecured notes due November 1, 2049 (the "2049 Notes") under our existing shelf registration statement. The 2049 Notes were offered to the public at 99.941% of their face amount with a stated rate of 3.350% and a yield to maturity of 3.353% . We received net proceeds of approximately $296.6 million , net of underwriting discounts and other estimated offering expenses. After giving effect to net underwriting discounts and other estimated offering expenses, the effective annual interest rate on the 2049 Notes is approximately 3.41% . Interest on the 2049 Notes is payable semi-annually on May 1 and November 1, beginning May 1, 2020. We may redeem the 2049 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 2049 Notes within six months of the maturity date, the redemption price will equal 100% of the principal amount of the 2049 Notes to be redeemed plus accrued and unpaid interest on the amount being redeemed to the redemption date. The 2049 Notes are direct, senior unsecured obligations and rank equally with all of our other unsecured and unsubordinated indebtedness. In October 2019, we used the net proceeds from the 2049 Notes, together with cash on hand, to fund the early redemption of all of the $250 million aggregate principal amount of our 4.78% effective rate Senior Notes due 2021, plus a make-whole premium and accrued and unpaid interest to the date of redemption, and to prepay all of the approximately $45.3 million aggregate principal amount of our 4.38% secured conventional mortgage note due 2045, plus a prepayment premium and interest to the date of repayment. In connection with these transactions, we recorded an approximate $12 million loss on early retirement of debt in the fourth quarter of 2019. At December 31, 2019 , we had $143.7 million outstanding floating rate debt, which included amounts borrowed under our unsecured credit facility, with a weighted average interest rate of approximately 2.7% . At December 31, 2018 , we had outstanding floating rate debt of approximately $99.6 million with a weighted average interest rate of approximately 3.3% . Our indebtedness, which includes our unsecured credit facility, had a weighted average maturity of 8.9 years at December 31, 2019 . 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, 2019 : (in millions) (1) Amount (2) Weighted Average Interest Rate (3) 2020 $ (3.1 ) — % 2021 (3.1 ) — 2022 447.0 3.1 2023 247.9 5.1 2024 (4) 542.6 3.9 Thereafter 1,292.8 3.7 Total $ 2,524.1 3.8 % (1) Includes all available extension options. (2) Includes amortization of debt discounts and debt issuance costs. (3) Includes the effects of the applicable settled forward interest rate swaps. (4) Includes $44.0 million of borrowings outstanding under our unsecured credit facility. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Fair Value [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 10. 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. 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. In connection with the 2029 Notes issued in June 2019, we settled all of our remaining outstanding forward interest rate swaps with a total notional value of $300.0 million resulting in a net cash payment of approximately $20.4 million . Amounts in other comprehensive income associated with the settled forward interest rate swaps will be reclassified to interest expense over the first seven years of the 2029 Notes. In connection with the 2028 Notes issued in October 2018, we settled forward interest rate swaps with a total notional value of $400.0 million resulting in a net cash receipt of approximately $15.9 million . Amounts in other comprehensive income associated with the settled forward interest rate swaps will be reclassified to interest expense over the life of the 2028 Notes. At December 31, 2019 , we had no designated hedges outstanding. 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. 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, 2019 and 2018, 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, 2019 and 2018: Asset Derivatives Liability Derivatives December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 (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 $ — Other Liabilities $ — Other Liabilities $ 7.4 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, 2019 and 2018: (in millions) Unrealized Gain (Loss) Recognized in Other Location of Gain Amount of Gain Derivatives in Cash Flow Hedging Relationships 2019 2018 2017 2019 2018 2017 Interest Rate Swaps $ (13.0 ) $ 6.8 $ 1.7 Interest expense $ 0.1 $ 0.4 $ — As of December 31, 2019 , the amount we expect to be reclassified into earnings in the next 12 months as an increase to interest expense is approximately $1.3 million . |
Share-Based Compensation and Be
Share-Based Compensation and Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Share-Based Compensation and Benefit Plans | 11. 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, 2019 , there were approximately 7.6 million common shares available under the 2018 Share Plan, which would result in approximately 2.2 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 $16.8 million , $ 17.8 million , and $ 18.8 million for 2019 , 2018 and 2017 , respectively. Total capitalized compensation cost for option and share awards was approximately $3.4 million , $3.0 million , and $3.8 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. A summary of activity under our share incentive plans for the year ended December 31, 2019 is shown below: Nonvested Share Awards Outstanding Weighted Average Exercise / Grant Price Nonvested share awards outstanding at December 31, 2018 390,681 $ 79.82 Granted 199,957 98.84 Exercised/Vested (308,514 ) 82.65 Forfeited (17,470 ) 86.64 Total nonvested share awards outstanding at December 31, 2019 264,654 $ 90.44 Options. Stock options other than reload options have a contractual life of ten years and vest over periods up to three 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. There were no options granted in December 31, 2019 . The weighted-average fair value of reload stock options granted during the years ended December 31, 2018 and 2017 and the weighted-average assumptions for such grants were as follows: Year Ended Year Ended December 31, 2017 Weighted average fair value of options granted $4.11 $5.25 Expected volatility 15.1% 18.9% Risk-free interest rate 2.0% 1.3% Expected dividend yield 3.3% 5.5% Expected life 1 year 2 years Our computations of expected volatility for 2018 and 2017 were 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 was based on the historical dividend yield over the expected term of the options granted. Our computation of expected life was 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 and $2.2 million during the years ended December 31, 2018 and 2017 , respectively. At December 31, 2019 , there was no unrecognized compensation cost related to unvested options and there were no options outstanding. Share Awards and Vesting. Share awards for employees generally vest over three 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, and with respect to employees, also attain at least 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, 2019 , 2018 and 2017 , the weighted average fair value of share awards granted was $98.84 , $82.81 and $83.41 , respectively. The total fair value of shares vested during the years ended December 31, 2019 , 2018 and 2017 was approximately $25.5 million , $ 24.0 million , and $ 23.1 million , respectively. At December 31, 2019 , the unamortized value of previously issued unvested share awards was approximately $13.5 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: 2019 2018 2017 Shares purchased 22,032 15,330 18,986 Weighted average fair value of shares purchased $ 105.93 $ 90.93 $ 89.89 Expense recorded (in millions) $ 0.4 $ 0.2 $ 0.3 Rabbi Trust. We established a rabbi trust for a select group of participants in which share awards granted under the share incentive plan and salary and other cash amounts earned may be deposited. The rabbi trust is only in use for deferrals made prior to 2005, including bonuses related to service in 2004 but paid in 2005. The rabbi trust is an irrevocable trust and no portion of the trust fund may be used for any purpose other than the delivery of those assets to the participants. The assets held in the rabbi trust are subject to the claims of our general creditors in the event of bankruptcy or insolvency. The value of the assets of the rabbi trust is consolidated into our financial statements. Granted share awards held by the rabbi trust are classified in equity in a manner similar to the manner in which treasury stock is accounted. Subsequent changes in the fair value of the shares are not recognized. The deferred compensation obligation is classified as an equity instrument and changes in the fair value of the amount owed to the participant are not recognized. At December 31, 2019 and 2018 , approximately 1.4 million and 1.7 million share awards, respectively were held in the rabbi trust. Additionally, as of December 31, 2019 and 2018 , the rabbi trust held trading securities totaling approximately $12.5 million and $14.9 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, 2019 and 2018 , approximately $ 17.3 million and $ 21.2 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. 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 0.8 million and 0.7 million share awards were held in the plan at December 31, 2019 and 2018 , respectively. Additionally, as of December 31, 2019 and 2018 , the plan held trading securities totaling approximately $139.3 million and $ 129.8 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. Balances within temporary equity in our consolidated balance sheets related 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 subject to a six-month holding period. In December 2018, the plan was amended and restated and effective January 1, 2019 participants in the Non-Qualified Deferred Compensation Plan were no longer able to diversify their common shares; accordingly, the fully vested share awards and the proportionate share of nonvested share awards previously eligible for diversification were reclassified on the effective date from temporary equity into additional paid-in capital in our consolidated balance sheet. The following table summarizes the eligible share award activity for the years ended December 31, 2018 and 2017: (in thousands) 2018 2017 Temporary equity: Balance at 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 shares during December 31, 2018) (40,294 ) (23,233 ) Balance at December 31 $ 52,674 $ 77,230 401(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 years ended December 31, 2019 , 2018, and 2017 were approximately $3.1 million , $2.9 million , and $2.7 million , respectively |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 12. 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, 2019 and 2018 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, 2019 December 31, 2018 (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) $ 151.8 $ — $ — $ 151.8 $ 144.7 $ — $ — $ 144.7 Other Liabilities Derivative financial instruments - forward interest rate swaps $ — $ — $ — $ — $ — $ 7.4 $ — $ 7.4 (1) Approximately $18.0 million and $12.7 million of participant cash was withdrawn from our deferred compensation plan investments during the years ended December 31, 2019 and 2018 , respectively. Approximately $40.3 million of shares within the deferred compensation plan were diversified into other deferred compensation plan investments during the year ended 2018. 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 four asset acquisitions of operating properties during the year ended December 31, 2019 and three asset acquisitions of operating properties during the year ended December 31, 2018. We recorded the real estate assets and identifiable above and 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 7, "Acquisitions and Dispositions" 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, 2019 and 2018 , in accordance with the policies discussed in Note 2, "Summary of Significant Accounting Policies and Recent Accounting Pronouncements." December 31, 2019 December 31, 2018 (in millions) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Fixed rate notes payable $ 2,380.4 $ 2,533.5 $ 2,222.0 $ 2,265.4 Floating rate notes payable (1) 143.7 143.8 99.6 99.4 (1) Includes balances outstanding under our unsecured credit facility at December 31, 2019. |
Net Change In Operating Account
Net Change In Operating Accounts | 12 Months Ended |
Dec. 31, 2019 | |
Increase (Decrease) in Operating Capital [Abstract] | |
Net Change In Operating Accounts | 13. 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) 2019 2018 2017 Change in assets: Other assets, net $ (6,976 ) $ 10,364 $ (6,724 ) Change in liabilities: Accounts payable and accrued expenses 19,713 (4,133 ) (2,300 ) Accrued real estate taxes (1,014 ) 1,910 2,342 Other liabilities 23,119 (1,486 ) (995 ) Other 3,252 2,898 2,831 Change in operating accounts and other $ 38,094 $ 9,553 $ (4,846 ) |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | 14. Commitments and Contingencies Construction Contracts. As of December 31, 2019 , we estimate the additional cost to complete the seven consolidated projects currently under construction to be approximately $358.6 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, the use of debt and equity offerings under our automatic shelf registration statement, proceeds from property dispositions, equity issued from our ATM programs, 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, 2019 , we had approximately $0.9 million in refundable earnest money deposits for potential acquisitions of operating properties and land and are included in other assets, net in our consolidated balance sheet. Of this $0.9 million in refundable earnest money deposits, approximately $0.2 million was related to the acquisition of land in Raleigh, North Carolina which was completed in January 2020. Lease Commitments. Substantially all of our operating leases recorded in our consolidated balance sheets at January 1, 2019 upon adoption of ASC 842 are related to office facility leases. The lease and non-lease components are accounted for as a combined single component based upon the standalone price at the time the applicable lease is commenced and is recognized as a lease expense on a straight-line basis over the lease term. Most of our office facility leases include options to renew and generally are not included in the operating lease liabilities or right-of-use ("ROU") assets as they are not reasonably certain of being exercised. If an option to renew is exercised, it would be considered a separate contract and recognized based upon the standalone price at the time the option to renew is exercised. Variable lease payments which values are not known at lease commencement, such as executory costs of real estate taxes, property insurance, and common area maintenance, are expensed as incurred. As of December 31, 2019 , we had no significant leases executed but not yet commenced and did not record any impairment charges related to our ROU assets. The following is a summary of our operating lease related information: ($ in millions) As of Balance sheet Classification December 31, 2019 Right-of-use assets, net Other assets, net $ 10.6 Operating lease liabilities Other liabilities $ 15.0 ($ in millions) Year ended Statement of income and comprehensive income Classification December 31, 2019 Rent expense related to operating lease liabilities General and administrative expenses and property management expenses $ 2.9 Variable lease expense General and administrative expenses and property management expenses $ 1.4 ($ in millions) Year ended Statement of cash flows Classification December 31, 2019 Cash flows from operating leases Net cash from operating activities $ 3.1 Supplemental lease information Weighted average remaining lease term (years) 5.3 Weighted average discount rate - operating leases (1) 4.9 % (1) We use a secured incremental borrowing rate, as defined by ASC 842 based on an estimated secured rate with applicable adjustments, as most of our lease contracts do not provide a readily determinable implicit rate. The following is a summary of our maturities of our lease liabilities as of December 31, 2019 : (in millions) Year ended December 31, Operating Leases 2020 $ 3.4 2021 3.2 2022 2.9 2023 2.7 2024 2.8 Thereafter 2.1 Less: discount for time value (2.1 ) Lease liability as of December 31, 2019 $ 15.0 Prior to our adoption of ASU 2016-12, rental expense for the years ended December 31, 2018 and 2017 were approximately $3.8 million and $4.0 million , respectively. Minimum annual rental commitments as of December 31, 2018 for the years ending December 31, 2019 through 2023 were 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, 2019 , we had employment agreements with 13 of our senior officers, the terms of which expire at various times through August 20, 2020. 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, 2019 | |
Quarterly Financial Data [Abstract] | |
Quarterly Financial Data [Text Block] | 15. Quarterly Financial Data (unaudited) Summarized quarterly financial data for the years ended December 31, 2019 and 2018 , is as follows: (in thousands, except per share amounts) First Second Third Fourth Total (a) 2019: Revenues $ 248,567 $ 255,761 $ 260,672 $ 263,461 $ 1,028,461 Net income attributable to common shareholders 38,613 42,399 43,597 95,014 (b) 219,623 Total earnings per share – basic 0.40 0.43 0.44 0.96 (b) 2.23 Total earnings per share – diluted 0.40 0.43 0.44 0.95 (b) 2.22 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 Total earnings per share – basic 0.41 0.40 0.41 0.41 1.63 Total earnings per share – diluted 0.41 0.40 0.40 0.41 1.63 (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 $11,995 or $0.12 basic and diluted per share, impact related to the loss on early retirement of debt in October 2019. Also includes a $49,901 or $0.50 basic and $0.49 diluted per share, impact related to a gain on sale of two |
Schedule III - Real Estate and
Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2019 | |
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 Year of Completion/ Acquisition Current communities (1) : ARIZONA Phoenix/Scottsdale Camden Chandler $ 5,511 $ 62,429 $ 353 $ 5,511 $ 62,782 $ 68,293 $ 11,766 $ 56,527 2016 Camden Copper Square 4,825 23,672 8,859 4,825 32,531 37,356 20,332 17,024 2000 Camden Foothills 11,006 33,712 328 11,006 34,040 45,046 7,454 37,592 2014 Camden Hayden 9,248 35,254 262 9,248 35,516 44,764 7,259 37,505 2015 Camden Legacy 4,068 26,612 18,905 4,068 45,517 49,585 28,933 20,652 1998 Camden Montierra 13,687 31,727 5,891 13,687 37,618 51,305 10,733 40,572 2012 Camden North End 16,108 82,620 68 16,108 82,688 98,796 8,346 90,450 2019 Camden Old Town Scottsdale 23,227 71,784 1,832 23,227 73,616 96,843 4,211 92,632 2019 Camden Pecos Ranch 3,362 24,492 6,044 3,362 30,536 33,898 10,541 23,357 2012 Camden San Marcos 11,520 35,166 6,441 11,520 41,607 53,127 12,171 40,956 2012 Camden San Paloma 6,480 23,045 11,173 6,480 34,218 40,698 19,292 21,406 2002 Camden Sotelo 3,376 30,576 1,665 3,376 32,241 35,617 7,522 28,095 2013 CALIFORNIA Los Angeles/Orange County Camden Crown Valley 9,381 54,210 11,280 9,381 65,490 74,871 37,277 37,594 2001 Camden Glendale 21,492 96,158 180 21,492 96,338 117,830 17,563 100,267 2015 Camden Harbor View 16,079 127,459 29,477 16,079 156,936 173,015 72,266 100,749 2003 Camden Main and Jamboree 17,363 75,387 2,782 17,363 78,169 95,532 23,382 72,150 2008 Camden Martinique 28,401 51,861 27,676 28,401 79,537 107,938 49,477 58,461 1998 Camden Sea Palms 4,336 9,930 8,280 4,336 18,210 22,546 10,683 11,863 1998 The Camden 18,286 118,730 337 18,286 119,067 137,353 18,101 119,252 2016 San Diego/Inland Empire Camden Landmark 17,339 71,315 3,789 17,339 75,104 92,443 19,580 72,863 2012 Camden Old Creek 20,360 71,777 9,397 20,360 81,174 101,534 32,105 69,429 2007 Camden Sierra at Otay Ranch 10,585 49,781 10,662 10,585 60,443 71,028 29,713 41,315 2003 Camden Tuscany 3,330 36,466 6,639 3,330 43,105 46,435 21,530 24,905 2003 Camden Vineyards 4,367 28,494 5,189 4,367 33,683 38,050 18,091 19,959 2002 COLORADO Denver Camden Belleview Station 8,091 44,003 5,790 8,091 49,793 57,884 12,182 45,702 2012 Camden Caley 2,047 17,445 10,096 2,047 27,541 29,588 15,303 14,285 2000 Camden Denver West $ 6,396 $ 51,552 $ 12,633 $ 6,396 $ 64,185 $ 70,581 $ 16,661 $ 53,920 2012 Camden Flatirons 6,849 72,631 855 6,849 73,486 80,335 15,824 64,511 2015 Camden Highlands Ridge 2,612 34,726 22,996 2,612 57,722 60,334 31,611 28,723 1996 Camden Interlocken 5,293 31,612 19,410 5,293 51,022 56,315 28,633 27,682 1999 Camden Lakeway 3,915 34,129 26,754 3,915 60,883 64,798 34,940 29,858 1997 Camden Lincoln Station 4,648 51,762 309 4,648 52,071 56,719 7,503 49,216 2017 WASHINGTON DC METRO Camden Ashburn Farm 4,835 22,604 6,009 4,835 28,613 33,448 12,767 20,681 2005 Camden College Park 16,409 91,503 7,579 16,409 99,082 115,491 28,675 86,816 2008 Camden Dulles Station 10,807 61,548 9,357 10,807 70,905 81,712 24,907 56,805 2008 Camden Fair Lakes 15,515 104,223 14,105 15,515 118,328 133,843 53,166 80,677 2005 Camden Fairfax Corner 8,484 72,953 10,162 8,484 83,115 91,599 36,257 55,342 2006 Camden Fallsgrove 9,408 43,647 6,107 9,408 49,754 59,162 23,071 36,091 2005 Camden Grand Parc 7,688 35,900 3,891 7,688 39,791 47,479 17,257 30,222 2005 Camden Lansdowne 15,502 102,267 26,380 15,502 128,647 144,149 55,180 88,969 2005 Camden Largo Town Center 8,411 44,163 4,661 8,411 48,824 57,235 21,706 35,529 2005 Camden Monument Place 9,030 54,089 7,618 9,030 61,707 70,737 23,110 47,627 2007 Camden NoMa 19,442 82,306 405 19,442 82,711 102,153 20,114 82,039 2014 Camden NoMa II 17,331 91,211 102 17,331 91,313 108,644 19,201 89,443 2017 Camden Potomac Yard 16,498 88,317 11,856 16,498 100,173 116,671 35,674 80,997 2008 Camden Roosevelt 11,470 45,785 5,669 11,470 51,454 62,924 21,963 40,961 2005 Camden Russett 13,460 61,837 7,631 13,460 69,468 82,928 31,431 51,497 2005 Camden Shady Grove 24,177 89,820 236 24,177 90,056 114,233 15,388 98,845 2018 Camden Silo Creek 9,707 45,301 8,646 9,707 53,947 63,654 22,983 40,671 2005 Camden Washingtonian 13,512 75,134 38 13,512 75,172 88,684 7,453 81,231 2018 FLORIDA Southeast Florida Camden Aventura 12,185 47,616 14,567 12,185 62,183 74,368 30,092 44,276 2005 Camden Boca Raton 2,201 50,057 435 2,201 50,492 52,693 10,690 42,003 2014 Camden Brickell 14,621 57,031 32,064 14,621 89,095 103,716 36,848 66,868 2005 Camden Doral 10,260 40,416 7,769 10,260 48,185 58,445 22,353 36,092 2005 Camden Doral Villas 6,476 25,543 7,881 6,476 33,424 39,900 16,294 23,606 2005 Camden Las Olas 12,395 79,518 28,185 12,395 107,703 120,098 44,737 75,361 2005 Camden Plantation 6,299 77,964 13,767 6,299 91,731 98,030 41,354 56,676 2005 Camden Portofino 9,867 38,702 10,387 9,867 49,089 58,956 22,310 36,646 2005 Orlando Camden Hunter's Creek $ 4,156 $ 20,925 $ 6,337 $ 4,156 $ 27,262 $ 31,418 $ 13,356 $ 18,062 2005 Camden Lago Vista 3,497 29,623 6,301 3,497 35,924 39,421 17,112 22,309 2005 Camden LaVina 12,907 42,617 1,306 12,907 43,923 56,830 13,395 43,435 2012 Camden Lee Vista 4,350 34,643 11,443 4,350 46,086 50,436 26,129 24,307 2000 Camden North Quarter 9,990 68,471 1,038 9,990 69,509 79,499 8,057 71,442 2018 Camden Orange Court 5,319 40,733 3,813 5,319 44,546 49,865 17,210 32,655 2008 Camden Thornton Park 11,711 74,628 764 11,711 75,392 87,103 5,843 81,260 2018 Camden Town Square 13,127 45,997 1,093 13,127 47,090 60,217 13,085 47,132 2012 Camden World Gateway 5,785 51,821 8,612 5,785 60,433 66,218 27,663 38,555 2005 Tampa/St. Petersburg Camden Bay 7,450 63,283 23,090 7,450 86,373 93,823 47,472 46,351 1998/2002 Camden Montague 3,576 16,534 785 3,576 17,319 20,895 5,376 15,519 2012 Camden Pier District 16,704 105,383 1,271 16,704 106,654 123,358 12,714 110,644 2018 Camden Preserve 1,206 17,982 11,267 1,206 29,249 30,455 18,995 11,460 1997 Camden Royal Palms 2,147 38,339 4,283 2,147 42,622 44,769 17,259 27,510 2007 Camden Westchase Park 11,955 36,254 825 11,955 37,079 49,034 10,626 38,408 2012 GEORGIA Atlanta Camden Brookwood 7,174 31,984 10,702 7,174 42,686 49,860 20,559 29,301 2005 Camden Buckhead Square 13,200 43,785 894 13,200 44,679 57,879 4,930 52,949 2017 Camden Creekstone 5,017 19,912 5,492 5,017 25,404 30,421 7,137 23,284 2012 Camden Deerfield 4,895 21,922 9,717 4,895 31,639 36,534 15,389 21,145 2005 Camden Dunwoody 5,290 23,642 9,812 5,290 33,454 38,744 16,870 21,874 2005 Camden Fourth Ward 10,477 51,258 1,621 10,477 52,879 63,356 11,789 51,567 2014 Camden Midtown Atlanta 6,196 33,828 11,097 6,196 44,925 51,121 21,671 29,450 2005 Camden Paces 15,262 102,521 1,218 15,262 103,739 119,001 22,448 96,553 2015 Camden Peachtree City 6,536 29,063 8,323 6,536 37,386 43,922 17,992 25,930 2005 Camden Shiloh 4,181 18,798 6,220 4,181 25,018 29,199 12,697 16,502 2005 Camden St. Clair 7,526 27,486 8,316 7,526 35,802 43,328 18,251 25,077 2005 Camden Stockbridge 5,071 22,693 5,281 5,071 27,974 33,045 13,537 19,508 2005 Camden Vantage 11,787 68,822 7,354 11,787 76,176 87,963 17,762 70,201 2013 NORTH CAROLINA Charlotte Camden Ballantyne $ 4,503 $ 30,250 $ 9,801 $ 4,503 $ 40,051 $ 44,554 $ 20,131 $ 24,423 2005 Camden Cotton Mills 4,246 19,147 7,548 4,246 26,695 30,941 13,703 17,238 2005 CoWork by Camden 814 3,422 9 814 3,431 4,245 172 4,073 2019 Camden Dilworth 516 16,633 3,421 516 20,054 20,570 8,836 11,734 2006 Camden Fairview 1,283 7,223 4,639 1,283 11,862 13,145 6,692 6,453 2005 Camden Foxcroft 1,408 7,919 4,898 1,408 12,817 14,225 7,103 7,122 2005 Camden Foxcroft II 1,152 6,499 3,698 1,152 10,197 11,349 5,096 6,253 2005 Camden Gallery 7,930 51,957 637 7,930 52,594 60,524 8,449 52,075 2017 Camden Grandview 7,570 33,859 13,278 7,570 47,137 54,707 22,302 32,405 2005 Camden Grandview II 4,617 17,852 26 4,617 17,878 22,495 1,120 21,375 2019 Camden Sedgebrook 5,266 29,211 8,192 5,266 37,403 42,669 18,878 23,791 2005 Camden South End 6,625 29,175 14,961 6,625 44,136 50,761 19,757 31,004 2005 Camden Stonecrest 3,941 22,021 6,962 3,941 28,983 32,924 14,930 17,994 2005 Camden Touchstone 1,203 6,772 3,807 1,203 10,579 11,782 5,818 5,964 2005 Raleigh Camden Carolinian 14,765 56,674 39 14,765 56,713 71,478 267 71,211 2019 Camden Crest 4,412 31,108 7,473 4,412 38,581 42,993 17,807 25,186 2005 Camden Governor's Village 3,669 20,508 7,066 3,669 27,574 31,243 12,827 18,416 2005 Camden Lake Pine 5,746 31,714 14,563 5,746 46,277 52,023 22,328 29,695 2005 Camden Manor Park 2,535 47,159 11,213 2,535 58,372 60,907 24,147 36,760 2006 Camden Overlook 4,591 25,563 10,347 4,591 35,910 40,501 18,586 21,915 2005 Camden Reunion Park 3,302 18,457 11,358 3,302 29,815 33,117 14,502 18,615 2005 Camden Westwood 4,567 25,519 9,115 4,567 34,634 39,201 16,292 22,909 2005 TEXAS Austin Camden Cedar Hills 2,684 20,931 3,503 2,684 24,434 27,118 9,295 17,823 2008 Camden Gaines Ranch 5,094 37,100 10,909 5,094 48,009 53,103 23,458 29,645 2005 Camden Huntingdon 2,289 17,393 10,791 2,289 28,184 30,473 20,459 10,014 1995 Camden La Frontera 3,250 32,376 543 3,250 32,919 36,169 7,610 28,559 2015 Camden Lamar Heights 3,988 42,773 531 3,988 43,304 47,292 9,938 37,354 2015 Camden Rainey Street 30,044 85,477 887 30,044 86,364 116,408 3,040 113,368 2019 Camden Stoneleigh 3,498 31,285 8,966 3,498 40,251 43,749 19,167 24,582 2006 Dallas/Fort Worth Camden Addison $ 11,516 $ 29,332 $ 8,735 $ 11,516 $ 38,067 $ 49,583 $ 13,673 $ 35,910 2012 Camden Belmont 12,521 61,522 6,530 12,521 68,052 80,573 17,987 62,586 2012 Camden Buckingham 2,704 21,251 11,413 2,704 32,664 35,368 21,634 13,734 1997 Camden Centreport 1,613 12,644 7,459 1,613 20,103 21,716 12,961 8,755 1997 Camden Cimarron 2,231 14,092 8,406 2,231 22,498 24,729 16,936 7,793 1997 Camden Farmers Market 17,341 74,193 28,144 17,341 102,337 119,678 54,327 65,351 2001/2005 Camden Henderson 3,842 15,256 801 3,842 16,057 19,899 4,680 15,219 2012 Camden Legacy Creek 2,052 12,896 7,420 2,052 20,316 22,368 14,235 8,133 1997 Camden Legacy Park 2,560 15,449 8,588 2,560 24,037 26,597 16,591 10,006 1997 Camden Valley Park 3,096 14,667 15,989 3,096 30,656 33,752 28,700 5,052 1994 Camden Victory Park 13,445 71,735 391 13,445 72,126 85,571 12,393 73,178 2016 Houston Camden City Centre 4,976 44,735 8,861 4,976 53,596 58,572 20,203 38,369 2007 Camden City Centre II 5,101 28,131 576 5,101 28,707 33,808 8,299 25,509 2013 Camden Greenway 16,916 43,933 21,492 16,916 65,425 82,341 42,848 39,493 1999 Camden Highland Village 28,536 111,802 34 28,536 111,836 140,372 586 139,786 2019 Camden Holly Springs 11,108 42,852 12,811 11,108 55,663 66,771 19,048 47,723 2012 Camden McGowen Station 6,089 85,038 18 6,089 85,056 91,145 9,284 81,861 2018 Camden Midtown 4,583 18,026 11,861 4,583 29,887 34,470 19,581 14,889 1999 Camden Oak Crest 2,078 20,941 6,437 2,078 27,378 29,456 15,113 14,343 2003 Camden Park 4,922 16,453 6,443 4,922 22,896 27,818 8,015 19,803 2012 Camden Plaza 7,204 31,044 4,528 7,204 35,572 42,776 10,443 32,333 2007 Camden Post Oak 14,056 92,515 19,339 14,056 111,854 125,910 27,955 97,955 2013 Camden Royal Oaks 1,055 20,046 3,829 1,055 23,875 24,930 10,362 14,568 2006 Camden Royal Oaks II 587 12,743 28 587 12,771 13,358 3,791 9,567 2012 Camden Stonebridge 1,016 7,137 7,076 1,016 14,213 15,229 10,152 5,077 1993 Camden Sugar Grove 7,614 27,594 5,004 7,614 32,598 40,212 9,840 30,372 2012 Camden Travis Street 1,780 29,104 2,028 1,780 31,132 32,912 11,104 21,808 2010 Camden Vanderbilt 16,076 44,918 26,933 16,076 71,851 87,927 49,883 38,044 1994/1997 Camden Whispering Oaks 1,188 26,242 2,016 1,188 28,258 29,446 11,332 18,114 2008 Total current communities: $ 1,199,384 $ 6,275,187 $ 1,122,505 $ 1,199,384 $ 7,397,692 $ 8,597,076 $ 2,685,956 $ 5,911,120 Communities under construction: Name / location Camden Atlantic $ 19,259 $ 19,259 $ 19,259 $ 19,259 N/A Camden Buckhead 55,166 55,166 55,166 55,166 N/A Camden Downtown I 123,465 123,465 123,465 48 123,417 N/A Camden Hillcrest 42,669 42,669 42,669 42,669 N/A Camden Lake Eola 75,000 75,000 75,000 75,000 N/A Camden North End II 31,350 31,350 31,350 31,350 N/A Camden RiNo 66,530 66,530 66,530 $21 66,509 N/A Total communities under construction: $ — $ 413,439 $ — $ — $ 413,439 $ 413,439 $ 69 $ 413,370 Development pipeline communities: Name/location Camden Arts District $ 26,888 $ 26,888 $ 26,888 $ 26,888 N/A Camden Downtown II 11,406 11,406 11,406 11,406 N/A Camden Hayden II 22,004 22,004 22,004 22,004 N/A Camden Highland Village II 8,025 8,025 8,025 8,025 N/A Camden NoDa 14,748 14,748 14,748 14,748 N/A Camden Paces III 15,783 15,783 15,783 15,783 N/A Total development pipeline communities: $ — $ 98,854 $ — $ — $ 98,854 $ 98,854 $ — $ 98,854 Corporate 6,424 — 6,424 6,424 6,424 N/A $ — $ 6,424 $ — $ — $ 6,424 $ 6,424 $ — $ 6,424 TOTAL $ 1,199,384 $ 6,793,904 $ 1,122,505 $ 1,199,384 $ 7,916,409 $ 9,115,793 $ 2,686,025 $ 6,429,768 (1) All communities were unencumbered at December 31, 2019. Camden Property Trust Real Estate and Accumulated Depreciation As of December 31, 2019 (in thousands) Schedule III The changes in total real estate assets as adjusted for discontinued operations for the years ended December 31: 2019 2018 2017 Balance, beginning of period $ 8,328,475 $ 7,667,743 $ 7,376,690 Additions during period: Acquisition of operating properties 422,309 286,901 56,985 Development and repositions 341,236 300,294 224,202 Improvements 75,360 84,841 71,889 Deductions during period: Cost of real estate sold – other (51,587 ) (11,304 ) (62,023 ) Balance, end of period $ 9,115,793 $ 8,328,475 $ 7,667,743 The changes in accumulated depreciation for the years ended December 31: 2019 2018 2017 Balance, beginning of period $ 2,403,149 $ 2,118,839 $ 1,890,656 Depreciation of real estate assets 317,026 284,310 255,924 Dispositions (34,150 ) — (27,741 ) Balance, end of period $ 2,686,025 $ 2,403,149 $ 2,118,839 The aggregate cost for federal income tax purposes at December 31, 2019 was $8.2 billion . |
Schedule IV - Mortgage Loans on
Schedule IV - Mortgage Loans on Real Estate | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] | |
Schedule IV - Mortgage Loans on Real Estate [Text Block] | Camden Property Trust As of December 31, 2019 Schedule IV ($ 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) $ 7,868 $ 7,868 (a) The aggregate cost at December 31, 2019 for federal income tax purposes was approximately $7,868 . (b) This loan currently bears interest at 7% on any unpaid principal balance. (c) Payments will consist of annual interest and principal payments from October 1, 2019 to October 1, 2025 . Changes in mortgage loans for the years ended December 31 are summarized below: 2019 2018 2017 Balance, beginning of period $ 9,314 $ 18,790 $ 17,224 Additions: Advances under real estate loans — — 1,566 Deductions: Collections of principal and loan payoff (1,446 ) (9,476 ) — Balance, end of period $ 7,868 $ 9,314 $ 18,790 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
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. As of December 31, 2019 , 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. As of December 31, 2019 , we held approximately 92% and 95% of the outstanding common limited partnership units and the sole 1% general partnership interest in each of these consolidated operating partnerships. |
Acquisitions of Real Estate | Acquisitions of Real Estate . Upon the 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 consolidated balance sheets. During the years ended December 31, 2019 , 2018 , and 2017, we recognized amortization expense of approximately $10.4 million , $9.4 million , and $1.3 million , respectively, related to in-place leases. The net amortization of above-market and below-market leases increased rental revenues by $0.1 million and $0.2 million during the years ended December 31, 2019 and 2018 , respectively. We did not recognize any net amortization of above-market and below-market leases during the year ended December 31, 2017 . During the year ended December 31, 2019 , the weighted average amortization periods for both in-place and net above and below market leases were approximately six months . During the year ended December 31, 2018 , the weighted average amortization period for in-place and net above and below market leases were approximately seven months and five months . During the year ended December 31, 2017 , the weighted average amortization period for in-place leases was approximately six months. |
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. When impairment exists, the long-lived asset is adjusted to its fair value. In estimating fair value, management uses appraisals, management estimates, and discounted cash flow calculations which utilize inputs from a marketplace participant’s perspective. 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, 2019 , 2018 , or 2017 . 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 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. 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 | 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 $14.1 million , $13.6 million , and $15.2 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. Capitalized real estate taxes were approximately $2.8 million , $2.2 million , and $2.4 million for the years ended December 31, 2019 , 2018 , and 2017 , 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 costs 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. 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 presented on a gross basis for financial reporting purposes even when those instruments are subject to master netting arrangements and may otherwise qualify for net presentation. 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) . Disposed of properties are 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. 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 when the criteria for derecognition of an asset is met, including when a contract exists and the buyer obtained control of the nonfinancial asset sold, in accordance with accounting principles generally accepted in the United States of America ("GAAP"). As a result, most of our future contributions of nonfinancial assets to our joint ventures, if any, will result in the recognition of a full gain or loss as if we sold 100% of the nonfinancial asset. |
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." 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, 2019 and 2018 |
Income Recognition | Income Recognition . On January 1, 2019, we adopted Accounting Standards Update ("ASU") 2016-02, "Leases" which is codified as ASC 842, Leases . The majority of our revenues are derived from real estate lease contracts which are accounted for pursuant to ASC 842 and presented as property revenues, which include rental revenue and revenue from amounts received under contractual terms for other services provided to our customers. Our other revenue streams include fee and asset management income in accordance with other revenue guidance, ASC 606, Revenues from Contracts with Customers . A detail of these revenue streams are discussed below: Property Revenue : We earn rental revenue from operating lease contracts for the use of dedicated spaces within owned assets which is recognized on a straight-line basis over the applicable lease term, net of amounts related to lease contracts identified as uncollectible. We also earn revenues from amounts received under contractual terms for other services considered non-lease components within a lease contract, primarily consisting of utility rebillings and other transactional fees, and are charged to our residents and recognized monthly as earned. We elected the practical expedient under ASU 2016-02 to not separate lease and non-lease components and have presented our property revenues combined based upon the lease being determined to be the predominant component. Any uncollectible amounts related to individual lease contracts are presented as an adjustment to property revenue. Any renewal options of real estate lease contracts are considered a new, separate contract and will be recognized at the time the option is exercised on a straight-line basis over the renewal period. As of December 31, 2019 , our average residential lease term was between twelve months to fifteen months with all other commercial leases averaging longer lease terms. We anticipate property revenue from existing leases as follows: (in millions) Year ended December 31, Operating Leases 2020 $ 666.0 2021 34.1 2022 5.5 2023 4.9 2024 4.1 Thereafter 28.3 Total $ 742.9 Fee and Asset Management Income : We receive property management, asset management, and development and construction fees from our joint ventures for managing the ventures and managing the activities, development, and construction 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 earn construction fees for construction management and general contracting services we provide to third-party owners of multifamily and commercial 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. 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, 2019 and 2018 , these contract receivable and liability balances were immaterial. Credit Risk. 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 amounts have been presented separately within financing activities in the consolidated statements of cash flows for the years ended December 31, 2018 and 2017 to conform to the current-year presentation. These changes in presentation had no impact in consolidated cash flows from financing activities. Upon our adoption of ASU 2016-02 on January 1, 2019 we were required, based on our election of a practical expedient, to combine lessor lease and non-lease components as a single component under certain conditions. For the years ended December 31, 2018 and 2017, we combined other property revenues of $112.5 million and $130.4 million , respectively, with rental revenues of $842.0 million and $770.5 million , respectively, to conform to the current year presentation. |
Insurance | Insurance . Our primary lines of insurance coverage are property, general liability, health, workers’ compensation, and cyber security. 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, operating lease right-of-use assets, 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 11, “Share-based Compensation and Benefit Plans.” Deferred financing costs are related to our unsecured credit facility, and are amortized no longer than the terms of the related facility on the straight-line method, which approximates the effective interest method. Corporate leasehold improvements and equipment includes expenditures related to renovation and construction of office space we lease. These leasehold improvements 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 2019, we received payments of approximately $1.4 million in principal and approximately $0.6 million in interest on this note which matures on October 1, 2025. At December 31, 2019 and 2018 , the outstanding note receivable balance was approximately $7.9 million and $9.3 million , respectively, and the weighted average interest rate was approximately 7.0% and 4.0% , respectively. 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. 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, 2019 or 2018 . |
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 property revenue through the leasing of apartment homes, which comprised approximately 99% of our total property revenues and total non-property income, excluding income (loss) on deferred compensation plans, for each of the years ended December 31, 2019 , 2018 , and 2017 . |
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 August 2018, the Financial Accounting Standards Board ("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 aligns the accounting for costs incurred to implement a cloud computing arrangement which is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software. 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 costs for activities on service contracts entered, renewed, materially modified, or performed 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 adopted as of January 1, 2020, using the prospective transition method and will present future qualified capitalizable costs relating to new completed cloud computing arrangements which are service arrangements as prepaid assets within other assets on our consolidated balance sheets, as cash flows from operating activities on our consolidated statement of cash flows, and the associated amortization as general and administrative expenses on our consolidated statements of income and comprehensive income. Our adoption of ASU 2018-15 will not have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, "Leases." ASU 2016-02 and its related amendments codify ASC 842 and provides new guidance for accounting for leases. We adopted ASC 842 as of January 1, 2019 using the transition method which allows us to recognize a cumulative-effect adjustment to the opening balance of retained earnings as of the adoption date and to initially apply the new lease standard to leases which existed as of January 1, 2019. Upon our adoption of ASC 842, as a lessee we recorded a right-of-use asset and a corresponding liability in our consolidated balance sheet, as a lessor we now present combined lease and non-lease components as a single component in our consolidated statement of income and comprehensive income, and this ASU did not have an impact on the opening balance of retained earnings as of the adoption date. In addition to the transition practical expedient, we elected other practical expedients during our adoption of the new lease standard. For both lessor and lessee contracts, we elected the practical expedient package to not reassess: (i) whether any expired or existing contract was a lease or contained a lease, (ii) the lease classification of any expired or existing leases, and (iii) the accounting for initial direct costs for any existing leases. As a lessor, we also elected practical expedients to: • not separate the lease and non-lease components by class of underlying assets and account for the combined components as a single component under certain conditions, and • exclude from lease revenues the sales taxes collected from lessees and certain lessor costs paid directly by the lessee (as of the date of adoption, we did not have material sales tax collected from customers or lessor costs paid by customers). As a lessee, we also elected the practical expedients to: • use hindsight to determine lease terms and impairment of the right-of-use assets for existing lease contracts, • not separate lease and non-lease components by class of underlying asset when certain conditions are met which is consistent with our current accounting, and • not recognize short-term lease contracts with a duration of 12 months or less (short-term leases) in our consolidated balance sheet. We earn income from the leasing of our owned real estate properties which is considered our only lessor underlying asset class. Substantially all of our real estate lessor commitments will continue to be accounted for as operating leases and the new leasing standard did not have a material impact on our property revenues. As a lessee, we enter into lease contracts to facilitate the operations and needs of our business and our operating leases primarily consist of our office facility leases which are considered our only lessee underlying asset class. Our lessee operating lease commitments are subject to this standard and recognized as operating lease liabilities and right-of-use assets upon adoption. See above "Income Recognition," as it relates to our lessor leases and Note 14, "Commitments and Contingencies" as it relates to our lessee leases for additional disclosures required by ASC 842. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Revenue Recognition Leases, Operating [Policy Text Block] | We anticipate property revenue from existing leases as follows: (in millions) Year ended December 31, Operating Leases 2020 $ 666.0 2021 34.1 2022 5.5 2023 4.9 2024 4.1 Thereafter 28.3 Total $ 742.9 |
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, 2019 | |
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) 2019 2018 2017 Earnings per common share calculation – basic Income from continuing operations attributable to common shareholders $ 219,623 $ 156,128 $ 196,422 Amount allocated to participating securities (539 ) (1,107 ) (660 ) Net income attributable to common shareholders – basic $ 219,084 $ 155,021 $ 195,762 Total earnings per common share – basic $ 2.23 $ 1.63 $ 2.14 Weighted average number of common shares outstanding – basic 98,460 95,208 91,499 Earnings per common share calculation – diluted Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities $ 219,084 $ 155,021 $ 195,762 Income allocated to common units from continuing operations 1,593 — 1,174 Net income attributable to common shareholders – diluted $ 220,677 $ 155,021 $ 196,936 Total earnings per common share – diluted $ 2.22 $ 1.63 $ 2.13 Weighted average number of common shares outstanding – basic 98,460 95,208 91,499 Incremental shares issuable from assumed conversion of: Common share options and share awards granted 119 158 211 Common units 805 — 805 Weighted average number of common shares outstanding – diluted 99,384 95,366 92,515 |
Common Shares (Tables)
Common Shares (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 years ended December 31, 2019 and 2017: Year Ended December 31, (in thousands, except per share amounts) 2019 2017 Total net consideration $ 24,839.1 $ 2,513.6 Common shares sold 224.3 28.1 Average price per share $ 111.88 $ 90.44 |
Income Taxes Income Taxes (Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 , 2018 and 2017 is set forth in the following table: Year Ended December 31, 2019 2018 2017 Common Share Distributions Ordinary income $ 2.53 $ 2.99 $ 2.38 Long-term capital gain 0.46 0.09 0.41 Unrecaptured Sec. 1250 gain 0.21 — 0.21 Total $ 3.20 $ 3.08 $ 3.00 |
Investments In Joint Ventures (
Investments In Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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) 2019 2018 Total assets $ 685.0 $ 695.2 Total third-party debt 496.9 510.7 Total equity 153.4 158.4 2019 2018 2017 Total revenues $ 131.7 $ 127.4 $ 121.9 Gain on sale of operating property (1) 19.8 — — Net income (2) 37.5 16.4 13.5 Equity in income (3) (4) 14.8 7.8 6.8 (1) In December 2019, one of the funds sold one operating property comprised of 270 apartment homes for approximately $38.5 million . (2) Net income for the year ended December 31, 2017 includes approximately $1.3 million of property expense relating to Hurricanes Harvey and Irma in the third quarter of 2017. (3) Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds. (4) Equity in income for the year ended December 31, 2019 includes our ownership interest of the gain on sale of the operating property of approximately $6.2 million . Equity in income for the year ended December 31, 2017 includes our ownership interest of the hurricane related insurance recoveries and expenses of approximately $0.4 million . |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Payable [Abstract] | |
Summary Of Indebtedness | The following is a summary of our indebtedness: December 31, (in millions) 2019 2018 Commercial banks Unsecured credit facility $ 44.0 $ — 2.70% Term loan, due 2022 99.7 99.6 $ 143.7 $ 99.6 Senior unsecured notes ( 1 ) 4.78% Notes, due 2021 $ — $ 249.1 3.15% Notes, due 2022 348.0 347.3 5.07% Notes, due 2023 248.4 248.0 4.36% Notes, due 2024 249.0 248.7 3.68% Notes, due 2024 248.0 247.6 3.74% Notes, due 2028 396.7 396.1 3.67% Notes, due 2029 593.7 — 3.41% Notes, due 2049 296.6 — $ 2,380.4 $ 1,736.8 Total unsecured notes payable $ 2,524.1 $ 1,836.4 Secured notes 4.38% Conventional Mortgage Loan, due 2045 $ — $ 45.9 5.19% Conventional Mortgage Notes, due 2019 — 419.9 5.33% Conventional Mortgage Loan, due 2019 — 19.4 $ — $ 485.2 Total notes payable (1) $ 2,524.1 $ 2,321.6 Value of real estate assets, at cost, subject to secured notes $ — $ 867.9 (1) Unamortized debt discounts and debt issuance costs of $19.9 million and $13.9 million are included in senior unsecured and secured notes payable as of December 31, 2019 and 2018 , 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, 2019 : (in millions) (1) Amount (2) Weighted Average Interest Rate (3) 2020 $ (3.1 ) — % 2021 (3.1 ) — 2022 447.0 3.1 2023 247.9 5.1 2024 (4) 542.6 3.9 Thereafter 1,292.8 3.7 Total $ 2,524.1 3.8 % (1) Includes all available extension options. (2) Includes amortization of debt discounts and debt issuance costs. (3) Includes the effects of the applicable settled forward interest rate swaps. (4) Includes $44.0 million |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 and 2018: Asset Derivatives Liability Derivatives December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 (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 $ — Other Liabilities $ — Other Liabilities $ 7.4 |
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, 2019 and 2018: (in millions) Unrealized Gain (Loss) Recognized in Other Location of Gain Amount of Gain Derivatives in Cash Flow Hedging Relationships 2019 2018 2017 2019 2018 2017 Interest Rate Swaps $ (13.0 ) $ 6.8 $ 1.7 Interest expense $ 0.1 $ 0.4 $ — |
Share-Based Compensation and _2
Share-Based Compensation and Benefit Plans (Tables) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | ||
Summary Of Share Incentive Plans | A summary of activity under our share incentive plans for the year ended December 31, 2019 is shown below: Nonvested Share Awards Outstanding Weighted Average Exercise / Grant Price Nonvested share awards outstanding at December 31, 2018 390,681 $ 79.82 Granted 199,957 98.84 Exercised/Vested (308,514 ) 82.65 Forfeited (17,470 ) 86.64 Total nonvested share awards outstanding at December 31, 2019 264,654 $ 90.44 | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The weighted-average fair value of reload stock options granted during the years ended December 31, 2018 and 2017 and the weighted-average assumptions for such grants were as follows: Year Ended Year Ended December 31, 2017 Weighted average fair value of options granted $4.11 $5.25 Expected volatility 15.1% 18.9% Risk-free interest rate 2.0% 1.3% Expected dividend yield 3.3% 5.5% Expected life 1 year 2 years | |
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block] | The following table presents information related to our ESPP: 2019 2018 2017 Shares purchased 22,032 15,330 18,986 Weighted average fair value of shares purchased $ 105.93 $ 90.93 $ 89.89 Expense recorded (in millions) $ 0.4 $ 0.2 $ 0.3 | |
Temporary Equity [Table Text Block] | The following table summarizes the eligible share award activity for the years ended December 31, 2018 and 2017: (in thousands) 2018 2017 Temporary equity: Balance at 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 shares during December 31, 2018) (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, 2019 | |
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, 2019 and 2018 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, 2019 December 31, 2018 (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) $ 151.8 $ — $ — $ 151.8 $ 144.7 $ — $ — $ 144.7 Other Liabilities Derivative financial instruments - forward interest rate swaps $ — $ — $ — $ — $ — $ 7.4 $ — $ 7.4 (1) Approximately $18.0 million and $12.7 million of participant cash was withdrawn from our deferred compensation plan investments during the years ended December 31, 2019 and 2018 , respectively. Approximately $40.3 million of shares within the deferred compensation plan were diversified into other deferred compensation plan investments during the year ended 2018. |
Fair Value Of Notes Payable | The following table presents the carrying and estimated fair values of our notes payable at December 31, 2019 and 2018 , in accordance with the policies discussed in Note 2, "Summary of Significant Accounting Policies and Recent Accounting Pronouncements." December 31, 2019 December 31, 2018 (in millions) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Fixed rate notes payable $ 2,380.4 $ 2,533.5 $ 2,222.0 $ 2,265.4 Floating rate notes payable (1) 143.7 143.8 99.6 99.4 (1) Includes balances outstanding under our unsecured credit facility at December 31, 2019. |
Net Change In Operating Accou_2
Net Change In Operating Accounts (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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) 2019 2018 2017 Change in assets: Other assets, net $ (6,976 ) $ 10,364 $ (6,724 ) Change in liabilities: Accounts payable and accrued expenses 19,713 (4,133 ) (2,300 ) Accrued real estate taxes (1,014 ) 1,910 2,342 Other liabilities 23,119 (1,486 ) (995 ) Other 3,252 2,898 2,831 Change in operating accounts and other $ 38,094 $ 9,553 $ (4,846 ) |
Commitments And Contingencies L
Commitments And Contingencies Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The following is a summary of our maturities of our lease liabilities as of December 31, 2019 : (in millions) Year ended December 31, Operating Leases 2020 $ 3.4 2021 3.2 2022 2.9 2023 2.7 2024 2.8 Thereafter 2.1 Less: discount for time value (2.1 ) Lease liability as of December 31, 2019 $ 15.0 |
Lessee, Operating Lease, Disclosure [Table Text Block] | The following is a summary of our operating lease related information: ($ in millions) As of Balance sheet Classification December 31, 2019 Right-of-use assets, net Other assets, net $ 10.6 Operating lease liabilities Other liabilities $ 15.0 ($ in millions) Year ended Statement of income and comprehensive income Classification December 31, 2019 Rent expense related to operating lease liabilities General and administrative expenses and property management expenses $ 2.9 Variable lease expense General and administrative expenses and property management expenses $ 1.4 ($ in millions) Year ended Statement of cash flows Classification December 31, 2019 Cash flows from operating leases Net cash from operating activities $ 3.1 Supplemental lease information Weighted average remaining lease term (years) 5.3 Weighted average discount rate - operating leases (1) 4.9 % (1) We use a secured incremental borrowing rate, as defined by ASC 842 based on an estimated secured rate with applicable adjustments, as most of our lease contracts do not provide a readily determinable implicit rate. |
Quarterly Financial Data (Una_2
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Data [Abstract] | |
Schedule of Quarterly Financial Data [Table Text Block] | Summarized quarterly financial data for the years ended December 31, 2019 and 2018 , is as follows: (in thousands, except per share amounts) First Second Third Fourth Total (a) 2019: Revenues $ 248,567 $ 255,761 $ 260,672 $ 263,461 $ 1,028,461 Net income attributable to common shareholders 38,613 42,399 43,597 95,014 (b) 219,623 Total earnings per share – basic 0.40 0.43 0.44 0.96 (b) 2.23 Total earnings per share – diluted 0.40 0.43 0.44 0.95 (b) 2.22 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 Total earnings per share – basic 0.41 0.40 0.41 0.41 1.63 Total earnings per share – diluted 0.41 0.40 0.40 0.41 1.63 (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 $11,995 or $0.12 basic and diluted per share, impact related to the loss on early retirement of debt in October 2019. Also includes a $49,901 or $0.50 basic and $0.49 diluted per share, impact related to a gain on sale of two |
Schedule III - Real Estate an_2
Schedule III - Real Estate and Accumulated Depreciation (Summary) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 Year of Completion/ Acquisition Current communities (1) : ARIZONA Phoenix/Scottsdale Camden Chandler $ 5,511 $ 62,429 $ 353 $ 5,511 $ 62,782 $ 68,293 $ 11,766 $ 56,527 2016 Camden Copper Square 4,825 23,672 8,859 4,825 32,531 37,356 20,332 17,024 2000 Camden Foothills 11,006 33,712 328 11,006 34,040 45,046 7,454 37,592 2014 Camden Hayden 9,248 35,254 262 9,248 35,516 44,764 7,259 37,505 2015 Camden Legacy 4,068 26,612 18,905 4,068 45,517 49,585 28,933 20,652 1998 Camden Montierra 13,687 31,727 5,891 13,687 37,618 51,305 10,733 40,572 2012 Camden North End 16,108 82,620 68 16,108 82,688 98,796 8,346 90,450 2019 Camden Old Town Scottsdale 23,227 71,784 1,832 23,227 73,616 96,843 4,211 92,632 2019 Camden Pecos Ranch 3,362 24,492 6,044 3,362 30,536 33,898 10,541 23,357 2012 Camden San Marcos 11,520 35,166 6,441 11,520 41,607 53,127 12,171 40,956 2012 Camden San Paloma 6,480 23,045 11,173 6,480 34,218 40,698 19,292 21,406 2002 Camden Sotelo 3,376 30,576 1,665 3,376 32,241 35,617 7,522 28,095 2013 CALIFORNIA Los Angeles/Orange County Camden Crown Valley 9,381 54,210 11,280 9,381 65,490 74,871 37,277 37,594 2001 Camden Glendale 21,492 96,158 180 21,492 96,338 117,830 17,563 100,267 2015 Camden Harbor View 16,079 127,459 29,477 16,079 156,936 173,015 72,266 100,749 2003 Camden Main and Jamboree 17,363 75,387 2,782 17,363 78,169 95,532 23,382 72,150 2008 Camden Martinique 28,401 51,861 27,676 28,401 79,537 107,938 49,477 58,461 1998 Camden Sea Palms 4,336 9,930 8,280 4,336 18,210 22,546 10,683 11,863 1998 The Camden 18,286 118,730 337 18,286 119,067 137,353 18,101 119,252 2016 San Diego/Inland Empire Camden Landmark 17,339 71,315 3,789 17,339 75,104 92,443 19,580 72,863 2012 Camden Old Creek 20,360 71,777 9,397 20,360 81,174 101,534 32,105 69,429 2007 Camden Sierra at Otay Ranch 10,585 49,781 10,662 10,585 60,443 71,028 29,713 41,315 2003 Camden Tuscany 3,330 36,466 6,639 3,330 43,105 46,435 21,530 24,905 2003 Camden Vineyards 4,367 28,494 5,189 4,367 33,683 38,050 18,091 19,959 2002 COLORADO Denver Camden Belleview Station 8,091 44,003 5,790 8,091 49,793 57,884 12,182 45,702 2012 Camden Caley 2,047 17,445 10,096 2,047 27,541 29,588 15,303 14,285 2000 Camden Denver West $ 6,396 $ 51,552 $ 12,633 $ 6,396 $ 64,185 $ 70,581 $ 16,661 $ 53,920 2012 Camden Flatirons 6,849 72,631 855 6,849 73,486 80,335 15,824 64,511 2015 Camden Highlands Ridge 2,612 34,726 22,996 2,612 57,722 60,334 31,611 28,723 1996 Camden Interlocken 5,293 31,612 19,410 5,293 51,022 56,315 28,633 27,682 1999 Camden Lakeway 3,915 34,129 26,754 3,915 60,883 64,798 34,940 29,858 1997 Camden Lincoln Station 4,648 51,762 309 4,648 52,071 56,719 7,503 49,216 2017 WASHINGTON DC METRO Camden Ashburn Farm 4,835 22,604 6,009 4,835 28,613 33,448 12,767 20,681 2005 Camden College Park 16,409 91,503 7,579 16,409 99,082 115,491 28,675 86,816 2008 Camden Dulles Station 10,807 61,548 9,357 10,807 70,905 81,712 24,907 56,805 2008 Camden Fair Lakes 15,515 104,223 14,105 15,515 118,328 133,843 53,166 80,677 2005 Camden Fairfax Corner 8,484 72,953 10,162 8,484 83,115 91,599 36,257 55,342 2006 Camden Fallsgrove 9,408 43,647 6,107 9,408 49,754 59,162 23,071 36,091 2005 Camden Grand Parc 7,688 35,900 3,891 7,688 39,791 47,479 17,257 30,222 2005 Camden Lansdowne 15,502 102,267 26,380 15,502 128,647 144,149 55,180 88,969 2005 Camden Largo Town Center 8,411 44,163 4,661 8,411 48,824 57,235 21,706 35,529 2005 Camden Monument Place 9,030 54,089 7,618 9,030 61,707 70,737 23,110 47,627 2007 Camden NoMa 19,442 82,306 405 19,442 82,711 102,153 20,114 82,039 2014 Camden NoMa II 17,331 91,211 102 17,331 91,313 108,644 19,201 89,443 2017 Camden Potomac Yard 16,498 88,317 11,856 16,498 100,173 116,671 35,674 80,997 2008 Camden Roosevelt 11,470 45,785 5,669 11,470 51,454 62,924 21,963 40,961 2005 Camden Russett 13,460 61,837 7,631 13,460 69,468 82,928 31,431 51,497 2005 Camden Shady Grove 24,177 89,820 236 24,177 90,056 114,233 15,388 98,845 2018 Camden Silo Creek 9,707 45,301 8,646 9,707 53,947 63,654 22,983 40,671 2005 Camden Washingtonian 13,512 75,134 38 13,512 75,172 88,684 7,453 81,231 2018 FLORIDA Southeast Florida Camden Aventura 12,185 47,616 14,567 12,185 62,183 74,368 30,092 44,276 2005 Camden Boca Raton 2,201 50,057 435 2,201 50,492 52,693 10,690 42,003 2014 Camden Brickell 14,621 57,031 32,064 14,621 89,095 103,716 36,848 66,868 2005 Camden Doral 10,260 40,416 7,769 10,260 48,185 58,445 22,353 36,092 2005 Camden Doral Villas 6,476 25,543 7,881 6,476 33,424 39,900 16,294 23,606 2005 Camden Las Olas 12,395 79,518 28,185 12,395 107,703 120,098 44,737 75,361 2005 Camden Plantation 6,299 77,964 13,767 6,299 91,731 98,030 41,354 56,676 2005 Camden Portofino 9,867 38,702 10,387 9,867 49,089 58,956 22,310 36,646 2005 Orlando Camden Hunter's Creek $ 4,156 $ 20,925 $ 6,337 $ 4,156 $ 27,262 $ 31,418 $ 13,356 $ 18,062 2005 Camden Lago Vista 3,497 29,623 6,301 3,497 35,924 39,421 17,112 22,309 2005 Camden LaVina 12,907 42,617 1,306 12,907 43,923 56,830 13,395 43,435 2012 Camden Lee Vista 4,350 34,643 11,443 4,350 46,086 50,436 26,129 24,307 2000 Camden North Quarter 9,990 68,471 1,038 9,990 69,509 79,499 8,057 71,442 2018 Camden Orange Court 5,319 40,733 3,813 5,319 44,546 49,865 17,210 32,655 2008 Camden Thornton Park 11,711 74,628 764 11,711 75,392 87,103 5,843 81,260 2018 Camden Town Square 13,127 45,997 1,093 13,127 47,090 60,217 13,085 47,132 2012 Camden World Gateway 5,785 51,821 8,612 5,785 60,433 66,218 27,663 38,555 2005 Tampa/St. Petersburg Camden Bay 7,450 63,283 23,090 7,450 86,373 93,823 47,472 46,351 1998/2002 Camden Montague 3,576 16,534 785 3,576 17,319 20,895 5,376 15,519 2012 Camden Pier District 16,704 105,383 1,271 16,704 106,654 123,358 12,714 110,644 2018 Camden Preserve 1,206 17,982 11,267 1,206 29,249 30,455 18,995 11,460 1997 Camden Royal Palms 2,147 38,339 4,283 2,147 42,622 44,769 17,259 27,510 2007 Camden Westchase Park 11,955 36,254 825 11,955 37,079 49,034 10,626 38,408 2012 GEORGIA Atlanta Camden Brookwood 7,174 31,984 10,702 7,174 42,686 49,860 20,559 29,301 2005 Camden Buckhead Square 13,200 43,785 894 13,200 44,679 57,879 4,930 52,949 2017 Camden Creekstone 5,017 19,912 5,492 5,017 25,404 30,421 7,137 23,284 2012 Camden Deerfield 4,895 21,922 9,717 4,895 31,639 36,534 15,389 21,145 2005 Camden Dunwoody 5,290 23,642 9,812 5,290 33,454 38,744 16,870 21,874 2005 Camden Fourth Ward 10,477 51,258 1,621 10,477 52,879 63,356 11,789 51,567 2014 Camden Midtown Atlanta 6,196 33,828 11,097 6,196 44,925 51,121 21,671 29,450 2005 Camden Paces 15,262 102,521 1,218 15,262 103,739 119,001 22,448 96,553 2015 Camden Peachtree City 6,536 29,063 8,323 6,536 37,386 43,922 17,992 25,930 2005 Camden Shiloh 4,181 18,798 6,220 4,181 25,018 29,199 12,697 16,502 2005 Camden St. Clair 7,526 27,486 8,316 7,526 35,802 43,328 18,251 25,077 2005 Camden Stockbridge 5,071 22,693 5,281 5,071 27,974 33,045 13,537 19,508 2005 Camden Vantage 11,787 68,822 7,354 11,787 76,176 87,963 17,762 70,201 2013 NORTH CAROLINA Charlotte Camden Ballantyne $ 4,503 $ 30,250 $ 9,801 $ 4,503 $ 40,051 $ 44,554 $ 20,131 $ 24,423 2005 Camden Cotton Mills 4,246 19,147 7,548 4,246 26,695 30,941 13,703 17,238 2005 CoWork by Camden 814 3,422 9 814 3,431 4,245 172 4,073 2019 Camden Dilworth 516 16,633 3,421 516 20,054 20,570 8,836 11,734 2006 Camden Fairview 1,283 7,223 4,639 1,283 11,862 13,145 6,692 6,453 2005 Camden Foxcroft 1,408 7,919 4,898 1,408 12,817 14,225 7,103 7,122 2005 Camden Foxcroft II 1,152 6,499 3,698 1,152 10,197 11,349 5,096 6,253 2005 Camden Gallery 7,930 51,957 637 7,930 52,594 60,524 8,449 52,075 2017 Camden Grandview 7,570 33,859 13,278 7,570 47,137 54,707 22,302 32,405 2005 Camden Grandview II 4,617 17,852 26 4,617 17,878 22,495 1,120 21,375 2019 Camden Sedgebrook 5,266 29,211 8,192 5,266 37,403 42,669 18,878 23,791 2005 Camden South End 6,625 29,175 14,961 6,625 44,136 50,761 19,757 31,004 2005 Camden Stonecrest 3,941 22,021 6,962 3,941 28,983 32,924 14,930 17,994 2005 Camden Touchstone 1,203 6,772 3,807 1,203 10,579 11,782 5,818 5,964 2005 Raleigh Camden Carolinian 14,765 56,674 39 14,765 56,713 71,478 267 71,211 2019 Camden Crest 4,412 31,108 7,473 4,412 38,581 42,993 17,807 25,186 2005 Camden Governor's Village 3,669 20,508 7,066 3,669 27,574 31,243 12,827 18,416 2005 Camden Lake Pine 5,746 31,714 14,563 5,746 46,277 52,023 22,328 29,695 2005 Camden Manor Park 2,535 47,159 11,213 2,535 58,372 60,907 24,147 36,760 2006 Camden Overlook 4,591 25,563 10,347 4,591 35,910 40,501 18,586 21,915 2005 Camden Reunion Park 3,302 18,457 11,358 3,302 29,815 33,117 14,502 18,615 2005 Camden Westwood 4,567 25,519 9,115 4,567 34,634 39,201 16,292 22,909 2005 TEXAS Austin Camden Cedar Hills 2,684 20,931 3,503 2,684 24,434 27,118 9,295 17,823 2008 Camden Gaines Ranch 5,094 37,100 10,909 5,094 48,009 53,103 23,458 29,645 2005 Camden Huntingdon 2,289 17,393 10,791 2,289 28,184 30,473 20,459 10,014 1995 Camden La Frontera 3,250 32,376 543 3,250 32,919 36,169 7,610 28,559 2015 Camden Lamar Heights 3,988 42,773 531 3,988 43,304 47,292 9,938 37,354 2015 Camden Rainey Street 30,044 85,477 887 30,044 86,364 116,408 3,040 113,368 2019 Camden Stoneleigh 3,498 31,285 8,966 3,498 40,251 43,749 19,167 24,582 2006 Dallas/Fort Worth Camden Addison $ 11,516 $ 29,332 $ 8,735 $ 11,516 $ 38,067 $ 49,583 $ 13,673 $ 35,910 2012 Camden Belmont 12,521 61,522 6,530 12,521 68,052 80,573 17,987 62,586 2012 Camden Buckingham 2,704 21,251 11,413 2,704 32,664 35,368 21,634 13,734 1997 Camden Centreport 1,613 12,644 7,459 1,613 20,103 21,716 12,961 8,755 1997 Camden Cimarron 2,231 14,092 8,406 2,231 22,498 24,729 16,936 7,793 1997 Camden Farmers Market 17,341 74,193 28,144 17,341 102,337 119,678 54,327 65,351 2001/2005 Camden Henderson 3,842 15,256 801 3,842 16,057 19,899 4,680 15,219 2012 Camden Legacy Creek 2,052 12,896 7,420 2,052 20,316 22,368 14,235 8,133 1997 Camden Legacy Park 2,560 15,449 8,588 2,560 24,037 26,597 16,591 10,006 1997 Camden Valley Park 3,096 14,667 15,989 3,096 30,656 33,752 28,700 5,052 1994 Camden Victory Park 13,445 71,735 391 13,445 72,126 85,571 12,393 73,178 2016 Houston Camden City Centre 4,976 44,735 8,861 4,976 53,596 58,572 20,203 38,369 2007 Camden City Centre II 5,101 28,131 576 5,101 28,707 33,808 8,299 25,509 2013 Camden Greenway 16,916 43,933 21,492 16,916 65,425 82,341 42,848 39,493 1999 Camden Highland Village 28,536 111,802 34 28,536 111,836 140,372 586 139,786 2019 Camden Holly Springs 11,108 42,852 12,811 11,108 55,663 66,771 19,048 47,723 2012 Camden McGowen Station 6,089 85,038 18 6,089 85,056 91,145 9,284 81,861 2018 Camden Midtown 4,583 18,026 11,861 4,583 29,887 34,470 19,581 14,889 1999 Camden Oak Crest 2,078 20,941 6,437 2,078 27,378 29,456 15,113 14,343 2003 Camden Park 4,922 16,453 6,443 4,922 22,896 27,818 8,015 19,803 2012 Camden Plaza 7,204 31,044 4,528 7,204 35,572 42,776 10,443 32,333 2007 Camden Post Oak 14,056 92,515 19,339 14,056 111,854 125,910 27,955 97,955 2013 Camden Royal Oaks 1,055 20,046 3,829 1,055 23,875 24,930 10,362 14,568 2006 Camden Royal Oaks II 587 12,743 28 587 12,771 13,358 3,791 9,567 2012 Camden Stonebridge 1,016 7,137 7,076 1,016 14,213 15,229 10,152 5,077 1993 Camden Sugar Grove 7,614 27,594 5,004 7,614 32,598 40,212 9,840 30,372 2012 Camden Travis Street 1,780 29,104 2,028 1,780 31,132 32,912 11,104 21,808 2010 Camden Vanderbilt 16,076 44,918 26,933 16,076 71,851 87,927 49,883 38,044 1994/1997 Camden Whispering Oaks 1,188 26,242 2,016 1,188 28,258 29,446 11,332 18,114 2008 Total current communities: $ 1,199,384 $ 6,275,187 $ 1,122,505 $ 1,199,384 $ 7,397,692 $ 8,597,076 $ 2,685,956 $ 5,911,120 Communities under construction: Name / location Camden Atlantic $ 19,259 $ 19,259 $ 19,259 $ 19,259 N/A Camden Buckhead 55,166 55,166 55,166 55,166 N/A Camden Downtown I 123,465 123,465 123,465 48 123,417 N/A Camden Hillcrest 42,669 42,669 42,669 42,669 N/A Camden Lake Eola 75,000 75,000 75,000 75,000 N/A Camden North End II 31,350 31,350 31,350 31,350 N/A Camden RiNo 66,530 66,530 66,530 $21 66,509 N/A Total communities under construction: $ — $ 413,439 $ — $ — $ 413,439 $ 413,439 $ 69 $ 413,370 Development pipeline communities: Name/location Camden Arts District $ 26,888 $ 26,888 $ 26,888 $ 26,888 N/A Camden Downtown II 11,406 11,406 11,406 11,406 N/A Camden Hayden II 22,004 22,004 22,004 22,004 N/A Camden Highland Village II 8,025 8,025 8,025 8,025 N/A Camden NoDa 14,748 14,748 14,748 14,748 N/A Camden Paces III 15,783 15,783 15,783 15,783 N/A Total development pipeline communities: $ — $ 98,854 $ — $ — $ 98,854 $ 98,854 $ — $ 98,854 Corporate 6,424 — 6,424 6,424 6,424 N/A $ — $ 6,424 $ — $ — $ 6,424 $ 6,424 $ — $ 6,424 TOTAL $ 1,199,384 $ 6,793,904 $ 1,122,505 $ 1,199,384 $ 7,916,409 $ 9,115,793 $ 2,686,025 $ 6,429,768 (1) All communities were unencumbered at December 31, 2019. Camden Property Trust Real Estate and Accumulated Depreciation As of December 31, 2019 (in thousands) Schedule III The changes in total real estate assets as adjusted for discontinued operations for the years ended December 31: 2019 2018 2017 Balance, beginning of period $ 8,328,475 $ 7,667,743 $ 7,376,690 Additions during period: Acquisition of operating properties 422,309 286,901 56,985 Development and repositions 341,236 300,294 224,202 Improvements 75,360 84,841 71,889 Deductions during period: Cost of real estate sold – other (51,587 ) (11,304 ) (62,023 ) Balance, end of period $ 9,115,793 $ 8,328,475 $ 7,667,743 The changes in accumulated depreciation for the years ended December 31: 2019 2018 2017 Balance, beginning of period $ 2,403,149 $ 2,118,839 $ 1,890,656 Depreciation of real estate assets 317,026 284,310 255,924 Dispositions (34,150 ) — (27,741 ) Balance, end of period $ 2,686,025 $ 2,403,149 $ 2,118,839 The aggregate cost for federal income tax purposes at December 31, 2019 was $8.2 billion . |
Schedule IV - Mortgage Loans _2
Schedule IV - Mortgage Loans on Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] | |
Mortgage Loans on Real Estate Table [Table Text Block] | Camden Property Trust As of December 31, 2019 Schedule IV ($ 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) $ 7,868 $ 7,868 (a) The aggregate cost at December 31, 2019 for federal income tax purposes was approximately $7,868 . (b) This loan currently bears interest at 7% on any unpaid principal balance. (c) Payments will consist of annual interest and principal payments from October 1, 2019 to October 1, 2025 . |
Changes in Mortgage Loans [Table Text Block] | Changes in mortgage loans for the years ended December 31 are summarized below: 2019 2018 2017 Balance, beginning of period $ 9,314 $ 18,790 $ 17,224 Additions: Advances under real estate loans — — 1,566 Deductions: Collections of principal and loan payoff (1,446 ) (9,476 ) — Balance, end of period $ 7,868 $ 9,314 $ 18,790 |
Description Of Business (Detail
Description Of Business (Details) | Dec. 31, 2019 |
Description of Business [Abstract] | |
Number of multifamily communities comprising of apartment homes | 172 |
Total number of apartment homes in multifamily communities | 58,315 |
Number of multifamily properties under development | 8 |
Total number of apartment homes in multifamily properties upon completion of development | 2,208 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Amortization of in-place leases | $ 10,400 | $ 9,400 | $ 1,300 | |
Amortization of Below Market Lease | 100 | 200 | ||
Capitalized interest | 14,100 | 13,600 | 15,200 | |
Capitalized real estate taxes | 2,800 | 2,200 | 2,400 | |
Property revenues | 8,696 | 7,231 | 8,176 | |
Operating Leases, Income Statement, Minimum Lease Revenue | 842,000 | 770,500 | ||
Proceeds from Collection of Notes Receivable | 1,400 | |||
Proceeds from Interest Received | 600 | |||
Outstanding notes receivable | $ 7,868 | $ 9,314 | $ 18,790 | $ 17,224 |
Weighted average interest rate on outstanding notes receivable | 7.00% | 4.00% | ||
Percentage Of Rental Revenue And Other Income From Leasing Of Apartment Homes | 99.00% | 99.00% | 99.00% | |
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% | |||
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% | |||
Real Estate, Other [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Property revenues | $ 112,500 | $ 130,400 | ||
Residential Leases [Member] | Minimum [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Lessor, Operating Lease, Term of Contract | 12 months | |||
Residential Leases [Member] | Maximum [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Lessor, Operating Lease, Term of Contract | 15 months |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Expected Useful Lives Of Depreciable Property) (Details) | 12 Months Ended |
Dec. 31, 2019 | |
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 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies and Recent Accounting Pronouncements Summary of Significant Accounting Policies and Recent Accounting Pronouncments (Revenue Recognition Leases, Operating) (Details) | Dec. 31, 2019USD ($) |
Revenue Recognition and Deferred Revenue [Abstract] | |
Lessor, Operating Lease, Payments to be Received 2020 | $ 666,000 |
Lessor, Operating Lease, Payments to be Received 2021 | 34,100 |
Lessor, Operating Lease, Payments to be Received 2022 | 5,500 |
Lessor, Operating Lease, Payments to be Received 2023 | 4,900 |
Lessor, Operating Lease, Payments to be Received 2024 | 4,100 |
Lessor, Operating Lease, Payments to be Received, Thereafter | 28,300 |
Lessor, Operating Lease, Payments to be Received | $ 742,900 |
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, 2019 | [1] | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Earnings Per Share [Abstract] | ||||||||||||||
Number of common share equivalent securities excluded from the diluted earnings per share calculation | 1,100 | 2,100 | 1,500 | |||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $ 219,623 | $ 156,128 | $ 196,422 | |||||||||||
Amount allocated to participating securities | (539) | (1,107) | (660) | |||||||||||
Net Income (Loss) Available to Common Stockholders, Basic | $ 219,084 | $ 155,021 | $ 195,762 | |||||||||||
Total earnings per common share - basic | $ 0.96 | $ 0.44 | $ 0.43 | $ 0.40 | $ 0.41 | $ 0.41 | $ 0.40 | $ 0.41 | $ 2.23 | [2] | $ 1.63 | [2] | $ 2.14 | |
Weighted average number of common shares outstanding – basic | 98,460 | 95,208 | 91,499 | |||||||||||
Income allocated to common units from continuing operations | $ 1,593 | $ 0 | $ 1,174 | |||||||||||
Net income attributable to common shareholders - diluted | $ 220,677 | $ 155,021 | $ 196,936 | |||||||||||
Total earnings per common share - diluted | $ 0.95 | $ 0.44 | $ 0.43 | $ 0.40 | $ 0.41 | $ 0.40 | $ 0.40 | $ 0.41 | $ 2.22 | [2] | $ 1.63 | [2] | $ 2.13 | |
Common share options and share awards granted | 119 | 158 | 211 | |||||||||||
Common units | 805 | 0 | 805 | |||||||||||
Weighted average number of common shares outstanding - diluted | 99,384 | 95,366 | 92,515 | |||||||||||
[1] | Includes a $11,995 or $0.12 basic and diluted per share, impact related to the loss on early retirement of debt in October 2019. Also includes a $49,901 or $0.50 basic and $0.49 diluted per share, impact related to a gain on sale of two | |||||||||||||
[2] | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. |
Common Shares (Narrative) (Deta
Common Shares (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
May 31, 2017 | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Feb. 20, 2020 | |
Treasury Stock, Shares, Acquired | 3,222 | |||||
Treasury Stock, Value, Acquired, Par Value Method | $ (253) | |||||
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 | 97,200,000 | |||||
Preferred Stock, Shares Outstanding | 0 | |||||
Common shares issued | 3,599 | 0 | 4,778 | |||
Proceeds from issuance of common shares | $ 353,213 | $ 0 | $ 445,038 | |||
Cash distributions declared to equity holders per share | $ 3.20 | $ 3.08 | $ 3 | |||
2017 ATM program [Member] | ||||||
Maximum aggregate offering price of common shares | $ 315,300 | |||||
Common shares issued | 224,300 | 28,100 | ||||
2019 Equity Offering [Member] | ||||||
Common shares issued | 3,400,000 | |||||
Proceeds from issuance of common shares | $ 328,400 | |||||
Subsequent Event [Member] | ||||||
Cash distributions declared to equity holders per share | $ 0.83 | |||||
Subsequent Event [Member] | 2017 ATM program [Member] | ||||||
Maximum aggregate offering price of remaining common shares available for sale | $ 287,700 | |||||
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 |
Common Shares (Activity Under A
Common Shares (Activity Under At-The-Market Share Offering Program) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Common shares sold | 3,599 | 0 | 4,778 |
2017 ATM program [Member] | |||
Total net consideration | $ 24,839,100 | $ 2,513,600 | |
Common shares sold | 224,300 | 28,100 | |
Average Price Per Common Share Sold | $ 111.88 | $ 90.44 |
Operating Partnerships (Details
Operating Partnerships (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | 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 | 32.00% | |
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 | 0.9 | |
Unsecured Debt [Member] | 2.70% Term loan Due 2022 | ||
Debt Instrument, Face Amount | $ 100 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Difference Between Carry Value Of Net Assets And Tax Basis Of Net Assets | $ 1,300,000 | ||
Income tax expense | $ (1,089) | $ (1,424) | $ (1,224) |
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 | ||
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Ordinary Income | $ 2.53 | $ 2.99 | $ 2.38 |
Long-term capital gain | 0.46 | 0.09 | 0.41 |
Unrecaptured Sec. 1250 gain | 0.21 | 0 | 0.21 |
Total common share distributions | $ 3.20 | $ 3.08 | $ 3 |
Acquisitions, Dispositions, I_2
Acquisitions, Dispositions, Impairment, and Discontinued Operations (Narrative) (Details) | Jan. 13, 2020USD ($)a | Dec. 19, 2019USD ($)a | Dec. 05, 2019USD ($) | May 29, 2019USD ($)a | May 01, 2019USD ($) | Apr. 01, 2019USD ($)a | Sep. 24, 2018USD ($)a | Apr. 12, 2018USD ($)a | Feb. 15, 2018USD ($) | Jan. 11, 2018USD ($) | Jun. 01, 2017USD ($) | Apr. 28, 2017USD ($)a | Feb. 28, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 12, 2019 |
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Number of Operating properties Acquired | 4 | 3 | |||||||||||||||||
Gain on sale of operating properties | $ 49,901,000 | $ 49,901,000 | $ 0 | $ 43,231,000 | |||||||||||||||
Payments to Acquire Real Estate | $ 436,305,000 | $ 290,005,000 | $ 58,267,000 | ||||||||||||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Area of Land | a | 14.1 | ||||||||||||||||||
Proceeds from Sale of Land Held-for-investment | $ 11,500,000 | ||||||||||||||||||
Number of Real Estate Properties | 2 | 1 | 2 | 1 | 3 | ||||||||||||||
Number of Units in Real Estate Property | 1,005 | 1,005 | |||||||||||||||||
Proceeds from Sale of Property, Plant, and Equipment | $ 78,400,000 | ||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Area of Land | a | 4.9 | ||||||||||||||||||
Purchase price of land acquired | $ 18,200,000 | ||||||||||||||||||
Number of Units in Real Estate Property | 355 | ||||||||||||||||||
Camden Carolinian [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Number of Operating properties Acquired | 1 | ||||||||||||||||||
Number of Units in Real Estate Property | 186 | ||||||||||||||||||
Payments to Acquire Real Estate | $ 75,100,000 | ||||||||||||||||||
Camden Highland Village [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Number of Operating properties Acquired | 1 | ||||||||||||||||||
Number of Units in Real Estate Property | 552 | ||||||||||||||||||
Payments to Acquire Real Estate | $ 147,200,000 | ||||||||||||||||||
Camden Rainey Street [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Number of Operating properties Acquired | 1 | ||||||||||||||||||
Number of Units in Real Estate Property | 326 | ||||||||||||||||||
Payments to Acquire Real Estate | $ 120,400,000 | ||||||||||||||||||
Camden Old Town Scottsdale [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Number of Operating properties Acquired | 1 | ||||||||||||||||||
Number of Units in Real Estate Property | 316 | ||||||||||||||||||
Payments to Acquire Real Estate | $ 97,100,000 | ||||||||||||||||||
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 | $ 81,400,000 | ||||||||||||||||||
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 | $ 89,800,000 | ||||||||||||||||||
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 | $ 126,900,000 | ||||||||||||||||||
Camden Buckhead Square [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Number of Operating properties Acquired | 1 | ||||||||||||||||||
Number of Units in Real Estate Property | 250 | ||||||||||||||||||
Payments to Acquire Real Estate | $ 58,300,000 | ||||||||||||||||||
Camden South Bay [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Gain on sale of operating properties | $ 6,200,000 | ||||||||||||||||||
Number of Real Estate Properties | 1 | ||||||||||||||||||
Number of Units in Real Estate Property | 270 | ||||||||||||||||||
Proceeds from Sale of Property, Plant, and Equipment | $ 38,500,000 | ||||||||||||||||||
Camden Highland Village Land [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Area of Land | a | 2.3 | ||||||||||||||||||
Purchase price of land acquired | $ 8,000,000 | ||||||||||||||||||
Number of Units in Real Estate Property | 300 | ||||||||||||||||||
Camden Hayden II [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Area of Land | a | 11.6 | ||||||||||||||||||
Purchase price of land acquired | $ 18,000,000 | ||||||||||||||||||
Number of Units in Real Estate Property | 400 | ||||||||||||||||||
Camden NoDa [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Area of Land | a | 4.3 | ||||||||||||||||||
Purchase price of land acquired | $ 10,900,000 | ||||||||||||||||||
Number of Units in Real Estate Property | 400 | ||||||||||||||||||
Camden Lake Eola [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Area of Land | a | 1.8 | ||||||||||||||||||
Purchase price of land acquired | $ 11,400,000 | ||||||||||||||||||
Number of Units in Real Estate Property | 360 | ||||||||||||||||||
Camden Hillcrest [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Area of Land | a | 8.2 | ||||||||||||||||||
Purchase price of land acquired | $ 20,000,000 | ||||||||||||||||||
Number of Units in Real Estate Property | 132 | ||||||||||||||||||
CamdenCopperRidge1 [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||||||||
Number of Units in Real Estate Property | 632 | ||||||||||||||||||
Proceeds from Sale of Property, Plant, and Equipment | $ 69,400,000 |
Investments In Joint Ventures_2
Investments In Joint Ventures (Narrative) (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2019USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 12, 2019 | ||||
Maximum Investments by Formed Unconsolidated Joint Venture | $ 360,000,000 | $ 360,000,000 | ||||||||
Direct Costs of Leased and Rented Property or Equipment | 235,589,000 | $ 220,732,000 | $ 217,817,000 | |||||||
Gain on sale of operating properties | $ 49,901,000 | 49,901,000 | 0 | 43,231,000 | ||||||
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | $ 7,800,000 | $ 14,783,000 | [1],[2] | $ 7,836,000 | [1] | $ 6,822,000 | [1],[2] | |||
Number of joint ventures accounted for under equity method investments | 3 | 3 | 3 | |||||||
Equity method investment ownership percentage | 31.30% | 31.30% | ||||||||
Prior maximum Investments by Formed Unconsolidated Joint Venture | $ 450,000,000 | $ 450,000,000 | ||||||||
Maximum guaranteed amount of loans utilized for construction and development activities for joint ventures | $ 0 | 0 | ||||||||
Fees earned for property and asset management, construction, development, and other services to joint ventures | $ 6,800,000 | $ 5,700,000 | $ 5,800,000 | |||||||
Minimum [Member] | ||||||||||
Equity method investment ownership percentage | 20.00% | 20.00% | ||||||||
Maximum [Member] | ||||||||||
Equity method investment ownership percentage | 40.00% | 40.00% | ||||||||
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 | |||||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||||||||
Number of Real Estate Properties | 2 | 1 | 2 | 1 | 3 | |||||
Proceeds from Sale of Property, Plant, and Equipment | $ 78,400,000 | |||||||||
Number of Units in Real Estate Property | 1,005 | 1,005 | ||||||||
Camden South Bay [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||||||||
Gain on sale of operating properties | $ 6,200,000 | |||||||||
Number of Real Estate Properties | 1 | |||||||||
Proceeds from Sale of Property, Plant, and Equipment | $ 38,500,000 | |||||||||
Number of Units in Real Estate Property | 270 | |||||||||
[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 year ended December 31, 2019 includes our ownership interest of the gain on sale of the operating property of approximately $6.2 million . Equity in income for the year ended December 31, 2017 includes our ownership interest of the hurricane related insurance recoveries and expenses of approximately $0.4 million . |
Investments In Joint Ventures_3
Investments In Joint Ventures (Aggregate Balance Sheet And Statement Of Income Data For Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Schedule of Equity Method Investments [Line Items] | |||||||
Total assets | $ 685,000 | $ 695,200 | |||||
Total third party debt | 496,900 | 510,700 | |||||
Total equity | 153,400 | 158,400 | |||||
Total revenues | 131,700 | 127,400 | $ 121,900 | ||||
Gain On Sale Of Joint Venture Operating Property Net Of Tax | 19,800 | [1] | 0 | 0 | |||
Net income | 37,500 | 16,400 | 13,500 | [2] | |||
Equity in income of joint ventures | $ 7,800 | $ 14,783 | [3],[4] | $ 7,836 | [3] | $ 6,822 | [3],[4] |
[1] | In December 2019, one of the funds sold one operating property comprised of 270 apartment homes for approximately $38.5 million . | ||||||
[2] | Net income for the year ended December 31, 2017 includes approximately $1.3 million of property expense relating to Hurricanes Harvey and Irma in the third quarter of 2017. | ||||||
[3] | Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds. | ||||||
[4] | Equity in income for the year ended December 31, 2019 includes our ownership interest of the gain on sale of the operating property of approximately $6.2 million . Equity in income for the year ended December 31, 2017 includes our ownership interest of the hurricane related insurance recoveries and expenses of approximately $0.4 million . |
Notes Payable (Summary Of Indeb
Notes Payable (Summary Of Indebtedness) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2019 | Oct. 01, 2019 | Jun. 06, 2019 | Dec. 31, 2018 | |
Unsecured Debt | $ 2,524,099,000 | $ 1,836,427,000 | ||
Secured notes payable | 0 | 485,176,000 | ||
Total notes payable | 2,524,100,000 | 2,321,600,000 | ||
Value Of Real Estate Assets At Cost Subject To Secured Notes | 0 | 867,900,000 | ||
Commercial Banks [Member] | ||||
Unsecured Debt | 143,700,000 | 99,600,000 | ||
Senior Unsecured Notes [Member] | ||||
Unsecured Debt | 2,380,400,000 | 1,736,800,000 | ||
2.70% Term loan Due 2022 | Commercial Banks [Member] | ||||
Unsecured Debt | $ 99,700,000 | $ 99,600,000 | ||
Notes payable, effective interest rate | 2.70% | 3.34% | ||
Debt Instrument, Maturity Date | Jan. 1, 2022 | |||
4.78% Notes Due 2021 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 0 | $ 250,000,000 | $ 249,100,000 | |
Notes payable, effective interest rate | 4.78% | 4.78% | ||
Debt Instrument, Maturity Date | Jun. 15, 2021 | |||
3.15% Notes Due 2022 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 348,000,000 | $ 347,300,000 | ||
Notes payable, effective interest rate | 3.15% | 3.15% | ||
Debt Instrument, Maturity Date | Dec. 15, 2022 | |||
5.07% Notes Due 2023 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 248,400,000 | $ 248,000,000 | ||
Notes payable, effective interest rate | 5.07% | 5.07% | ||
Debt Instrument, Maturity Date | Jun. 15, 2023 | |||
4.36% Notes Due 2024 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 249,000,000 | $ 248,700,000 | ||
Notes payable, effective interest rate | 4.36% | 4.36% | ||
Debt Instrument, Maturity Date | Jan. 15, 2024 | |||
3.68% Notes Due 2024 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 248,000,000 | $ 247,600,000 | ||
Notes payable, effective interest rate | 3.68% | 3.68% | ||
Debt Instrument, Maturity Date | Sep. 15, 2024 | |||
3.74% Notes Due 2028 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 396,700,000 | $ 396,100,000 | ||
Notes payable, effective interest rate | 3.74% | 3.74% | ||
Debt Instrument, Maturity Date | Oct. 15, 2028 | |||
3.67% Notes due 2029 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 593,700,000 | $ 0 | ||
Notes payable, effective interest rate | 3.67% | 3.179% | 0.00% | |
Debt Instrument, Maturity Date | Jul. 1, 2029 | |||
3.41% Notes due 2049 | Senior Unsecured Notes [Member] | ||||
Unsecured Debt | $ 296,600,000 | $ 0 | ||
Notes payable, effective interest rate | 3.41% | 3.353% | 0.00% | |
Debt Instrument, Maturity Date | Nov. 1, 2049 | |||
Secured Notes 4.38% Fixed Rate Mortgage Note Due 2045 [Member] | Secured Debt [Member] | ||||
Secured notes payable | $ 0 | $ 45,900,000 | ||
Notes payable, effective interest rate | 0.00% | 4.38% | ||
Debt Instrument, Maturity Date | Sep. 1, 2045 | |||
Secured Notes 5.19% Fixed Rate Note Due 2019 [Member] | Secured Debt [Member] | ||||
Secured notes payable | $ 0 | $ 419,900,000 | ||
Notes payable, effective interest rate | 0.00% | 5.19% | ||
Debt Instrument, Maturity Date | May 1, 2019 | |||
Secured Notes 5.33% Fixed Rate Mortgage Note Due 2019 [Member] | Secured Debt [Member] | ||||
Secured notes payable | $ 19,400,000 | |||
Notes payable, effective interest rate | 0.00% | 5.33% | ||
Debt Instrument, Maturity Date | Jun. 1, 2019 | |||
Minimum [Member] | 2.70% Term loan Due 2022 | Unsecured Debt [Member] | ||||
Notes payable, effective interest rate | 2.70% | |||
Unsecured Credit Facility [Member] | Commercial Banks [Member] | ||||
Unsecured Debt | $ 44,000,000 | $ 0 |
Notes Payable (Narrative) (Deta
Notes Payable (Narrative) (Details) | Jun. 06, 2019USD ($) | Dec. 31, 2019USD ($)yr | Dec. 31, 2019USD ($)yr | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Oct. 01, 2019USD ($) | Oct. 01, 2018USD ($) | Sep. 30, 2018 | |
Secured Debt | $ 0 | $ 0 | $ 485,176,000 | ||||||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | 19,900,000 | $ 19,900,000 | 13,900,000 | ||||||
Current Fiscal Year End Date | --12-31 | ||||||||
Unsecured Debt | 2,524,099,000 | $ 2,524,099,000 | 1,836,427,000 | ||||||
Total notes payable | 2,524,100,000 | 2,524,100,000 | 2,321,600,000 | ||||||
Loss on early retirement of debt | 11,995,000 | 11,995,000 | 0 | $ 323,000 | |||||
Available amount under unsecured credit facility | $ 847,100,000 | 847,100,000 | |||||||
Payment for Debt Extinguishment or Debt Prepayment Cost | $ 12,000,000 | ||||||||
Weighted average interest rate on floating rate debt | [1] | 3.80% | 3.80% | ||||||
Weighted average maturity of indebtedness (including unsecured credit facility and unsecured short-term borrowings) (in years) | yr | 8.9 | 8.9 | |||||||
Letter Of Credit [Member] | |||||||||
Maximum Ability to Issue Letters of Credit Under Unsecured Credit Facility | $ 50,000,000 | $ 50,000,000 | |||||||
Outstanding balance under credit facility | 8,900,000 | 8,900,000 | |||||||
Commercial Banks [Member] | |||||||||
Unsecured Debt | 143,700,000 | 143,700,000 | 99,600,000 | ||||||
Commercial Banks [Member] | Unsecured Credit Facility [Member] | |||||||||
Unsecured Debt | 44,000,000 | 44,000,000 | 0 | ||||||
Senior Unsecured Notes [Member] | |||||||||
Unsecured Debt | 2,380,400,000 | 2,380,400,000 | 1,736,800,000 | ||||||
Secured Notes Fixed Rate Debt due 2019 [Member] | Secured Debt [Member] | |||||||||
Repayments of Secured Debt | 439,300,000 | ||||||||
2.70% Term loan Due 2022 | Commercial Banks [Member] | |||||||||
Unsecured Debt | $ 99,700,000 | $ 99,700,000 | $ 99,600,000 | ||||||
Debt Instrument, Maturity Date | Jan. 1, 2022 | ||||||||
Notes payable, effective interest rate | 2.70% | 2.70% | 3.34% | ||||||
2.70% Term loan Due 2022 | Unsecured Debt [Member] | |||||||||
Debt Instrument, Face Amount | $ 100,000,000 | ||||||||
3.74% Notes Due 2028 | Senior Unsecured Notes [Member] | |||||||||
Unsecured Debt | $ 396,700,000 | $ 396,700,000 | $ 396,100,000 | ||||||
Debt Instrument, Maturity Date | Oct. 15, 2028 | ||||||||
Notes payable, effective interest rate | 3.74% | 3.74% | 3.74% | ||||||
Unsecured Credit Facility [Member] | |||||||||
Value not exceeding the amount available under the unsecured credit facility | $ 450,000,000 | ||||||||
Amount of current borrowing capacity under unsecured credit facility | $ 600,000,000 | 600,000,000 | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | 900,000,000 | $ 900,000,000 | |||||||
Terms Of Bid Rate Loans | P180D | ||||||||
Floating Rate Notes Payable [Member] | |||||||||
Total notes payable | 143,700,000 | $ 143,700,000 | $ 99,600,000 | ||||||
Weighted average interest rate on floating rate debt | 3.30% | ||||||||
3.67% Notes due 2029 | Senior Unsecured Notes [Member] | |||||||||
Debt Instrument, Face Amount | $ 600,000,000 | ||||||||
Unsecured Debt | $ 593,700,000 | $ 593,700,000 | $ 0 | ||||||
Debt Instrument, Maturity Date | Jul. 1, 2029 | ||||||||
Notes payable, effective interest rate | 3.179% | 3.67% | 3.67% | 0.00% | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.15% | ||||||||
Discounted notes payable face amount | 99.751% | ||||||||
Derivative, Notional Amount | $ 300,000,000 | ||||||||
Debt Instrument, Interest Rate Before June 2026 | 3.84% | ||||||||
Debt Instrument, Interest Rate After June 2026 | 3.28% | ||||||||
Debt Instrument, Interest Rate During Period | 3.67% | ||||||||
Proceeds from Issuance of Debt | $ 593,400,000 | ||||||||
3.41% Notes due 2049 | Senior Unsecured Notes [Member] | |||||||||
Debt Instrument, Face Amount | $ 300,000,000 | ||||||||
Unsecured Debt | $ 296,600,000 | $ 296,600,000 | $ 0 | ||||||
Debt Instrument, Maturity Date | Nov. 1, 2049 | ||||||||
Notes payable, effective interest rate | 3.41% | 3.41% | 0.00% | 3.353% | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.35% | ||||||||
Discounted notes payable face amount | 99.941% | ||||||||
Debt Instrument, Interest Rate During Period | 3.41% | ||||||||
Proceeds from Issuance of Debt | $ 296,600,000 | ||||||||
4.78% Notes Due 2021 | Senior Unsecured Notes [Member] | |||||||||
Unsecured Debt | $ 0 | $ 0 | $ 249,100,000 | $ 250,000,000 | |||||
Debt Instrument, Maturity Date | Jun. 15, 2021 | ||||||||
Notes payable, effective interest rate | 4.78% | 4.78% | |||||||
Secured Notes 4.38% Fixed Rate Note Due 2045 [Member] | Secured Debt [Member] | |||||||||
Secured Debt | $ 45,300,000 | ||||||||
Secured Notes 4.38% Fixed Rate Mortgage Note Due 2045 [Member] | Secured Debt [Member] | |||||||||
Secured Debt | $ 0 | $ 0 | $ 45,900,000 | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2045 | ||||||||
Notes payable, effective interest rate | 0.00% | 0.00% | 4.38% | ||||||
[1] | Includes the effects of the applicable settled forward interest rate swaps. |
Notes Payable (Scheduled Repaym
Notes Payable (Scheduled Repayments On Outstanding Debt) (Details) $ in Millions | Dec. 31, 2019USD ($) | |
2020 | $ (3.1) | [1],[2] |
2021 | (3.1) | [1],[2] |
2022 | 447 | [1] |
2023 | 247.9 | [1] |
2024 | 542.6 | [1],[3] |
Thereafter | 1,292.8 | [1] |
Total notes payable | $ 2,524.1 | [1] |
Weighted Average Interest Rate | 3.80% | [4] |
Maturities Due In 2020 [Member] | ||
Weighted Average Interest Rate | 0.00% | |
Maturities Due In 2021 [Member] | ||
Weighted Average Interest Rate | 0.00% | |
Maturities due in 2022 [Member] | ||
Weighted Average Interest Rate | 3.10% | [4] |
Maturities due in 2023 [Member] | ||
Weighted Average Interest Rate | 5.10% | [4] |
Maturities due in 2024 [Member] | ||
Weighted Average Interest Rate | 3.90% | [4] |
Maturities Due Thereafter [Member] | ||
Weighted Average Interest Rate | 3.70% | [4] |
[1] | Includes all available extension options. | |
[2] | Includes amortization of debt discounts and debt issuance costs. | |
[3] | Includes $44.0 million | |
[4] | Includes the effects of the applicable settled forward interest rate swaps. |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedging Activities (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Derivatives, Fair Value [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | $ (13,000) | $ 6,800 | $ 1,700 |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 1,300 | ||
Interest Rate Derivative Liabilities, at Fair Value | 0 | 7,400 | |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 100 | 400 | 0 |
Payments for (Proceeds from) Hedge, Financing Activities | $ 0 | ||
Interest Rate Swap [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Interest Rate Derivative Assets, at Fair Value | 0 | 0 | |
Interest Rate Derivative Liabilities, at Fair Value | $ 0 | 7,400 | |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Number of Interest Rate Derivatives Held | 2 | ||
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Interest Rate Derivative Liabilities, at Fair Value | $ 0 | $ 7,400 |
Derivative Financial Instrume_4
Derivative Financial Instruments and Hedging Activities Reclassified Gain (Loss) on Derivatives Table (Details) - USD ($) $ in Thousands | Jun. 06, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized Gain (Loss) on Derivatives | $ (13,000) | $ 6,800 | $ 1,700 | |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 100 | 400 | $ 0 | |
Derivative, Cash Paid on Hedge | $ 20,400 | $ 20,430 | $ (15,905) | |
Document Period End Date | Dec. 31, 2019 | |||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative, Notional Amount | $ 300,000 |
Share-Based Compensation and _3
Share-Based Compensation and Benefit Plans (Narrative) (Details) | 12 Months Ended | |||
Dec. 31, 2019USD ($)shares$ / shares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | May 17, 2018shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 98.84 | $ 82.81 | $ 83.41 | |
Total compensation cost for option and share awards | $ 16,800,000 | $ 17,800,000 | $ 18,800,000 | |
Total capitalized compensation cost for option and share awards | $ 3,400,000 | $ 3,000,000 | 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 | 1,400,000 | 1,700,000 | ||
Share Awards Held In Non Qualified Deferred Compensation Plan Shares | $ 12,500,000 | $ 14,900,000 | ||
Cash Required By Plan Participants Upon Withdrawal | 17,300,000 | 21,200,000 | ||
Defined Contribution Plan, Cost | $ 3,100,000 | $ 2,900,000 | $ 2,700,000 | |
Number of shares diversified | shares | 429,000 | 261,000 | ||
Employee Share Purchase Program maximum shares available | shares | 500,000 | |||
Share Awards Held In Non Qualified Deferred Compensation Plan Shares | shares | 800,000 | 700,000 | ||
Trading Securities Held In Non Qualified Deferred Compensation Plan Value | $ 139,300,000 | $ 129,800,000 | ||
Options [Member] | ||||
Total intrinsic value of options exercised during the period | 2,000,000 | $ 2,200,000 | ||
Share Awards and Vesting [Member] | ||||
Total unrecognized compensation cost related to unvested options which is expected to be amortized | 13,500,000 | |||
Fair value of shares vested | $ 25,500,000 | $ 24,000,000 | $ 23,100,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years | |||
Maximum [Member] | Share Awards and Vesting [Member] | ||||
Vesting period, years | 3 years | |||
Two Thousand Eighteen Share Incentive Plan [Member] | ||||
Total fungible units to be issued | shares | 7,600,000 | 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 | 2,200,000 |
Share-Based Compensation and _4
Share-Based Compensation and Benefit Plans (Summary Of Share Incentive Plans) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Nonvested share awards outstanding, Beginning balance | 390,681 | ||
Granted, Share Awards Outstanding | 199,957 | ||
Exercised/Vested, Share Awards Outstanding | (308,514) | ||
Forfeited, Share Awards Outstanding | (17,470) | ||
Nonvested share awards outstanding, Ending balance | 264,654 | 390,681 | |
Nonvested share awards outstanding, Weighted Average Exercise/Grant Price Beginning | $ 79.82 | ||
Granted, Weighted Average Exercise/Grant Price | 98.84 | $ 82.81 | $ 83.41 |
Exercised/Vested, Weighted Average Exercise/Grant Price | 82.65 | ||
Forfeited, Weighted Average Exercise/Grant Price | 86.64 | ||
Nonvested share awards outstanding, Weighted Average Exercise/Grant Price Ending | $ 90.44 | $ 79.82 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 22,032 | 15,330 | 18,986 |
Weighted Average Fair Value Of Shares Purchased Under Employee Share Purchase Plan | $ 105.93 | $ 90.93 | $ 89.89 |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 0.4 | $ 0.2 | $ 0.3 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share Based Compensation Awards (Deferred Compensation Plan Awards) Table [Abstract] | |||
Non-qualified deferred compensation share awards | $ 52,674 | $ 77,230 | $ 77,037 |
Change in classification | 16,407 | 13,388 | |
Change in redemption value | (669) | 10,038 | |
Diversification of share awards | (52,674) | (40,294) | (23,233) |
Non-qualified deferred compensation share awards | $ 0 | $ 52,674 | $ 77,230 |
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 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 4.11 | $ 5.25 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 15.10% | 18.90% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.00% | 1.30% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 3.30% | 5.50% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 1 year | 2 years |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value) (Details) $ in Thousands | Jun. 01, 2017 | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Current Fiscal Year End Date | --12-31 | ||||
Deferred compensation plan investments | $ 151,800 | [1] | $ 144,700 | ||
Participant Withdrawals From Deferred Compensation Plan Investments | 18,000 | 12,700 | |||
Diversification of share awards within deferred compensation plan (Equity) | 52,674 | 40,294 | $ 23,233 | ||
Interest Rate Derivative Liabilities, at Fair Value | $ 0 | $ 7,400 | |||
Number of Operating properties Acquired | 4 | 3 | |||
Level 1 [Member] | |||||
Deferred compensation plan investments | $ 151,800 | $ 144,700 | |||
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 Liabilities, at Fair Value | 0 | 0 | |||
Interest Rate Swap [Member] | |||||
Interest Rate Derivative Assets, at Fair Value | 0 | 0 | |||
Interest Rate Derivative Liabilities, at Fair Value | 0 | 7,400 | |||
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Interest Rate Derivative Liabilities, at Fair Value | $ 0 | $ 7,400 | |||
Camden Buckhead Square [Member] | |||||
Number of Operating properties Acquired | 1 | ||||
[1] | Approximately $18.0 million and $12.7 million of participant cash was withdrawn from our deferred compensation plan investments during the years ended December 31, 2019 and 2018 , respectively. Approximately $40.3 million of shares within the deferred compensation plan were diversified into other deferred compensation plan investments during the year ended 2018. |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Of Notes Payable) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Current Fiscal Year End Date | --12-31 | |
Carrying Value | $ 2,524.1 | $ 2,321.6 |
Fixed Rate Notes Payable [Member] | ||
Carrying Value | 2,380.4 | 2,222 |
Estimated Fair Value | 2,533.5 | 2,265.4 |
Floating Rate Notes Payable [Member] | ||
Carrying Value | 143.7 | 99.6 |
Estimated Fair Value | $ 143.8 | $ 99.4 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Increase (Decrease) in Operating Capital [Abstract] | |||
Other assets, net | $ (6,976) | $ 10,364 | $ (6,724) |
Accounts payable and accrued expenses | 19,713 | (4,133) | (2,300) |
Accrued real estate taxes | (1,014) | 1,910 | 2,342 |
Other liabilities | 23,119 | (1,486) | (995) |
Other | 3,252 | 2,898 | 2,831 |
Change in operating accounts and other | $ 38,094 | $ 9,553 | $ (4,846) |
Commitments And Contingencies (
Commitments And Contingencies (Details) $ in Millions | 2 Months Ended | 12 Months Ended | ||
Feb. 20, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Current Fiscal Year End Date | --12-31 | |||
Lessee, Operating Lease, Liability, Payments, Due 2020 | $ 3.4 | |||
Lessee, Operating Lease, Liability, Payments, Due 2021 | 3.2 | |||
Lessee, Operating Lease, Liability, Payments, Due 2022 | 2.9 | |||
Lessee, Operating Lease, Liability, Payments, Due 2023 | 2.7 | |||
Lessee, Operating Lease, Liability, Payments, Due 2024 | 2.8 | |||
Lessee, Operating Lease, Liability, Payments, Due Thereafter | 2.1 | |||
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | $ 2.1 | |||
Number of Operating properties Acquired | 4 | 3 | ||
Number of consolidated projects under construction | 7 | |||
Anticipated expenditures relating to completion of construction type contracts | $ 358.6 | |||
Earnest Money Deposits | 0.9 | |||
Operating Lease, Right-of-Use Asset | 10.6 | |||
Operating Lease, Liability | 15 | |||
Rent expense related to operating lease liabilities | 2.9 | |||
Variable Lease, Cost | 1.4 | |||
Cash flows from operating leases | $ 3.1 | |||
Operating Lease, Weighted Average Remaining Lease Term | 5 years 3 months 18 days | |||
Operating Lease, Weighted Average Discount Rate, Percent | 4.90% | |||
Rental expense | $ 3.8 | $ 4 | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 2.9 | |||
Operating Leases, Future Minimum Payments, Due in Two Years | 3 | |||
Operating Leases, Future Minimum Payments, Due in Three Years | 3.1 | |||
Operating Leases, Future Minimum Payments, Due in Four Years | 2.7 | |||
Operating Leases, Future Minimum Payments, Due in Five Years | 2.6 | |||
Operating Leases, Future Minimum Payments, Due Thereafter | $ 4.5 | |||
Partnership Interest [Member] | Maximum [Member] | ||||
Less than joint venture economic interest noted | 100.00% | |||
Subsequent Event [Member] | ||||
Increase (Decrease) in Earnest Money Deposits Outstanding | $ 0.2 |
Quarterly Financial Data (una_3
Quarterly Financial Data (unaudited) (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019USD ($)$ / shares | Sep. 30, 2019USD ($)$ / shares | Jun. 30, 2019USD ($)$ / shares | Mar. 31, 2019USD ($)$ / shares | Dec. 31, 2018USD ($)$ / shares | Sep. 30, 2018USD ($)$ / shares | Jun. 30, 2018USD ($)$ / shares | Mar. 31, 2018USD ($)$ / shares | Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2018USD ($)$ / shares | Dec. 31, 2017USD ($)$ / shares | Dec. 12, 2019 | ||||
Current Fiscal Year End Date | --12-31 | ||||||||||||||
Gain (Loss) on Extinguishment of Debt | $ | $ (11,995) | $ (11,995) | $ 0 | $ (323) | |||||||||||
Gain (loss) on extinguishment of debt per basic share | $ 0.12 | ||||||||||||||
Gain (loss) on extinguishment of debt per diluted share | $ 0.12 | ||||||||||||||
Gain on sale of operating properties | $ | $ 49,901 | 49,901 | 0 | 43,231 | |||||||||||
Property revenues | $ | 263,461 | $ 260,672 | $ 255,761 | $ 248,567 | $ 244,919 | $ 241,770 | $ 237,133 | $ 230,683 | 1,028,461 | 954,505 | 900,896 | ||||
Net income attributable to common shareholders | $ | $ 95,014 | $ 43,597 | $ 42,399 | $ 38,613 | $ 39,196 | $ 38,866 | $ 38,671 | $ 39,395 | $ 219,623 | $ 156,128 | $ 196,422 | ||||
Total earnings per common share - basic | $ 0.96 | [1] | $ 0.44 | $ 0.43 | $ 0.40 | $ 0.41 | $ 0.41 | $ 0.40 | $ 0.41 | $ 2.23 | [2] | $ 1.63 | [2] | $ 2.14 | |
Total earnings per common share - diluted | 0.95 | [1] | $ 0.44 | $ 0.43 | $ 0.40 | $ 0.41 | $ 0.40 | $ 0.40 | $ 0.41 | $ 2.22 | [2] | $ 1.63 | [2] | $ 2.13 | |
Income loss due to disposition of operating property per basic share | 0.50 | ||||||||||||||
Income loss due to disposition of operating property per diluted share | $ 0.49 | ||||||||||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||||||||||
Number of operating properties sold | 2 | 2 | 1 | 3 | |||||||||||
[1] | Includes a $11,995 or $0.12 basic and diluted per share, impact related to the loss on early retirement of debt in October 2019. Also includes a $49,901 or $0.50 basic and $0.49 diluted per share, impact related to a gain on sale of two | ||||||||||||||
[2] | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. |
Schedule III - Real Estate an_3
Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 1,199,384 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,793,904 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,122,505 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,199,384 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,916,409 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,115,793 | $ 8,328,475 | $ 7,667,743 | $ 7,376,690 |
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,686,025 | $ 2,403,149 | $ 2,118,839 | $ 1,890,656 |
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 6,429,768 | |||
Current Communities [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,199,384 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,275,187 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,122,505 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,199,384 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,397,692 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,597,076 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,685,956 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 5,911,120 | |||
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 | 353 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,511 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 62,782 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 68,293 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,766 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 56,527 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2016 | |||
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 | 8,859 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,825 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,531 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 37,356 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,332 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,024 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2000 | |||
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 | 328 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,006 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 34,040 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 45,046 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,454 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 37,592 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2014 | |||
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 | 262 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,248 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,516 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,764 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,259 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 37,505 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2015 | |||
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 | 18,905 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,068 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 45,517 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 49,585 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 28,933 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 20,652 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1998 | |||
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 | 5,891 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,687 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,618 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 51,305 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,733 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 40,572 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
Current Communities [Member] | Camden North End [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 16,108 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 82,620 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 68 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,108 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 82,688 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 98,796 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,346 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 90,450 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2019 | |||
Current Communities [Member] | Camden Old Town Scottsdale [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 23,227 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 71,784 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 1,832 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 23,227 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 73,616 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 96,843 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,211 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 92,632 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2019 | |||
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 | 6,044 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,362 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,536 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,898 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,541 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 23,357 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 6,441 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,520 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 41,607 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 53,127 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,171 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 40,956 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 11,173 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,480 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 34,218 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 40,698 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,292 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,406 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2002 | |||
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 | 1,665 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,376 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,241 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 35,617 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,522 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 28,095 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2013 | |||
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 | 11,280 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,381 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 65,490 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 74,871 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 37,277 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 37,594 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2001 | |||
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 | 180 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 21,492 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 96,338 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 117,830 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,563 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 100,267 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2015 | |||
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 | 29,477 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,079 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 156,936 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 173,015 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 72,266 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 100,749 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2003 | |||
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 | 2,782 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,363 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 78,169 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 95,532 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 23,382 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 72,150 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2008 | |||
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 | 27,676 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 28,401 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 79,537 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 107,938 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 49,477 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 58,461 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1998 | |||
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 | 8,280 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,336 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,210 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,546 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,683 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 11,863 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1998 | |||
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 | 337 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 18,286 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 119,067 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 137,353 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,101 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 119,252 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2016 | |||
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 | 3,789 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,339 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 75,104 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 92,443 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,580 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 72,863 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 9,397 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 20,360 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 81,174 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 101,534 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 32,105 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 69,429 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2007 | |||
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 | 10,662 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,585 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 60,443 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 71,028 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 29,713 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 41,315 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2003 | |||
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 | 6,639 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,330 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 43,105 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 46,435 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,530 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,905 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2003 | |||
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 | 5,189 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,367 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,683 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 38,050 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,091 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 19,959 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2002 | |||
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 | 5,790 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,091 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 49,793 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 57,884 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,182 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 45,702 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 10,096 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,047 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,541 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,588 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,303 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,285 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2000 | |||
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 | 12,633 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,396 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 64,185 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 70,581 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,661 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 53,920 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 855 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,849 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 73,486 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 80,335 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,824 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 64,511 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2015 | |||
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 | 22,996 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,612 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 57,722 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 60,334 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 31,611 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 28,723 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1996 | |||
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 | 19,410 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,293 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 51,022 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 56,315 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 28,633 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 27,682 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1999 | |||
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 | 26,754 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,915 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 60,883 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 64,798 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 34,940 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,858 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1997 | |||
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 | 309 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,648 | |||
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 | 56,719 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,503 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 49,216 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2017 | |||
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 | 6,009 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,835 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,613 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,448 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,767 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 20,681 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 7,579 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,409 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 99,082 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 115,491 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 28,675 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 86,816 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2008 | |||
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 | 9,357 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,807 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 70,905 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 81,712 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 24,907 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 56,805 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2008 | |||
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 | 14,105 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,515 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 118,328 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 133,843 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 53,166 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 80,677 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 10,162 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,484 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 83,115 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 91,599 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 36,257 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 55,342 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2006 | |||
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 | 6,107 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,408 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 49,754 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 59,162 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 23,071 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 36,091 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 3,891 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,688 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 39,791 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 47,479 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,257 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 30,222 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 26,380 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,502 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 128,647 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 144,149 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 55,180 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 88,969 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 4,661 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,411 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 48,824 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 57,235 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,706 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 35,529 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 7,618 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,030 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 61,707 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 70,737 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 23,110 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 47,627 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2007 | |||
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 | 405 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 19,442 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 82,711 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 102,153 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,114 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 82,039 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2014 | |||
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 | 102 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,331 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 91,313 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 108,644 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,201 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 89,443 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2017 | |||
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 | 11,856 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,498 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 100,173 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 116,671 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 35,674 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 80,997 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2008 | |||
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 | 5,669 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,470 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 51,454 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 62,924 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,963 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 40,961 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 7,631 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,460 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 69,468 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 82,928 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 31,431 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 51,497 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 236 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 24,177 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 90,056 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 114,233 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,388 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 98,845 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2018 | |||
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 | 8,646 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,707 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 53,947 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 63,654 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,983 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 40,671 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 75,134 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 38 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,512 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 75,172 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 88,684 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,453 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 81,231 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2018 | |||
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 | 14,567 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,185 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 62,183 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 74,368 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 30,092 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 44,276 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 435 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,201 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 50,492 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 52,693 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,690 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 42,003 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2014 | |||
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 | 32,064 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,621 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 89,095 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 103,716 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 36,848 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 66,868 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 7,769 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,260 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 48,185 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 58,445 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,353 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 36,092 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 7,881 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,476 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,424 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,900 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,294 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 23,606 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 28,185 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,395 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 107,703 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 120,098 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 44,737 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 75,361 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 13,767 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,299 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 91,731 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 98,030 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 41,354 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 56,676 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 10,387 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,867 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 49,089 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 58,956 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,310 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 36,646 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 6,337 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,156 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,262 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,418 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,356 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,062 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 6,301 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,497 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,924 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,421 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,112 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 22,309 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 1,306 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,907 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 43,923 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 56,830 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,395 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 43,435 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 11,443 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,350 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 46,086 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 50,436 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 26,129 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,307 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2000 | |||
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 | 1,038 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 9,990 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 69,509 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 79,499 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,057 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 71,442 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2018 | |||
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 | 3,813 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,319 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 44,546 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 49,865 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,210 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 32,655 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2008 | |||
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 | 764 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,711 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 75,392 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 87,103 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,843 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 81,260 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2018 | |||
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 | 1,093 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,127 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 47,090 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 60,217 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,085 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 47,132 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 8,612 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,785 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 60,433 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 66,218 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 27,663 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 38,555 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 23,090 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,450 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 86,373 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 93,823 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 47,472 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 46,351 | |||
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 | 785 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,576 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,319 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 20,895 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,376 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 15,519 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 1,271 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,704 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 106,654 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 123,358 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,714 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 110,644 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2018 | |||
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 | 11,267 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,206 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,249 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 30,455 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,995 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 11,460 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1997 | |||
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 | 4,283 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,147 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 42,622 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,769 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,259 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 27,510 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2007 | |||
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 | 825 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,955 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,079 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 49,034 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,626 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 38,408 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 10,702 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,174 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 42,686 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 49,860 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,559 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,301 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 894 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,200 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 44,679 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 57,879 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,930 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 52,949 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2017 | |||
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 | 5,492 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,017 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,404 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 30,421 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,137 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 23,284 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 9,717 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,895 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,639 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 36,534 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,389 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,145 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 9,812 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,290 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,454 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 38,744 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,870 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,874 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 1,621 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 10,477 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 52,879 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 63,356 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,789 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 51,567 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2014 | |||
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 | 11,097 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,196 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 44,925 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 51,121 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,671 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,450 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 1,218 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 15,262 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 103,739 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 119,001 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,448 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 96,553 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2015 | |||
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 | 8,323 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,536 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,386 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 43,922 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,992 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 25,930 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 6,220 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,181 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,018 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,199 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,697 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 16,502 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 8,316 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,526 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,802 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 43,328 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,251 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 25,077 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 5,281 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,071 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,974 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,045 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,537 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 19,508 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 7,354 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,787 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 76,176 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 87,963 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,762 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 70,201 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2013 | |||
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 | 9,801 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,503 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,051 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 44,554 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,131 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,423 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 7,548 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,246 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,695 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 30,941 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,703 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,238 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
Current Communities [Member] | CoWork by Camden [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 814 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,422 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 9 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 814 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,431 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 4,245 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 172 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 4,073 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2019 | |||
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 | 3,421 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 516 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,054 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 20,570 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,836 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 11,734 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2006 | |||
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 | 4,639 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,283 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,862 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,145 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,692 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 6,453 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 4,898 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,408 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,817 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,225 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,103 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 7,122 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 3,698 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,152 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,197 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,349 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,096 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 6,253 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 637 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,930 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 52,594 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 60,524 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,449 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 52,075 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2017 | |||
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 | 13,278 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,570 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 47,137 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 54,707 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,302 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 32,405 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
Current Communities [Member] | Camden Grandview II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 4,617 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,852 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 26 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,617 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,878 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,495 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,120 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,375 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2019 | |||
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 | 8,192 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,266 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,403 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,669 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,878 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 23,791 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
Current Communities [Member] | Camden South End [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 | 14,961 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,625 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 44,136 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 50,761 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,757 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 31,004 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 6,962 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,941 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,983 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,924 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,930 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,994 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 3,807 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,203 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,579 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,782 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,818 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 5,964 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
Current Communities [Member] | Camden Carolinian [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 14,765 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 56,674 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 39 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,765 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 56,713 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 71,478 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 267 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 71,211 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2019 | |||
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 | 7,473 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,412 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 38,581 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,993 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,807 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 25,186 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 7,066 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,669 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,574 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,243 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,827 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,416 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 14,563 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,746 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 46,277 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 52,023 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,328 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,695 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 11,213 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,535 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 58,372 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 60,907 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 24,147 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 36,760 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2006 | |||
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 | 10,347 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,591 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,910 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 40,501 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,586 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,915 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 11,358 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,302 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,815 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,117 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,502 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,615 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 9,115 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,567 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 34,634 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,201 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,292 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 22,909 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 3,503 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,684 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,434 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 27,118 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,295 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 17,823 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2008 | |||
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 | 10,909 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,094 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 48,009 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 53,103 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 23,458 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 29,645 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2005 | |||
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 | 10,791 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,289 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,184 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 30,473 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,459 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,014 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1995 | |||
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 | 543 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,250 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,919 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 36,169 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,610 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 28,559 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2015 | |||
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 | 531 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,988 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 43,304 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 47,292 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,938 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 37,354 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2015 | |||
Current Communities [Member] | Camden Rainey Street [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 30,044 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 85,477 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 887 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 30,044 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 86,364 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 116,408 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,040 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 113,368 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2019 | |||
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 | 8,966 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,498 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 40,251 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 43,749 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,167 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 24,582 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2006 | |||
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 | 8,735 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,516 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 38,067 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 49,583 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,673 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 35,910 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 6,530 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 12,521 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 68,052 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 80,573 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 17,987 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 62,586 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 11,413 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,704 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,664 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 35,368 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21,634 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 13,734 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1997 | |||
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 | 7,459 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,613 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,103 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,716 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,961 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 8,755 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1997 | |||
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 | 8,406 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,231 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,498 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 24,729 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,936 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 7,793 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1997 | |||
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 | 28,144 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 17,341 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 102,337 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 119,678 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 54,327 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 65,351 | |||
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 | 801 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,842 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 16,057 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 19,899 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,680 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 15,219 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 7,420 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,052 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,316 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,368 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 14,235 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 8,133 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1997 | |||
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 | 8,588 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,560 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,037 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 26,597 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,591 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 10,006 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1997 | |||
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 | 15,989 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,096 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,656 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,752 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 28,700 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 5,052 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1994 | |||
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 | 391 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,445 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 72,126 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 85,571 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,393 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 73,178 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2016 | |||
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 | 8,861 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,976 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 53,596 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 58,572 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 20,203 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 38,369 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2007 | |||
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 | 576 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,101 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,707 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 33,808 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,299 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 25,509 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2013 | |||
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 | 21,492 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,916 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 65,425 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 82,341 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 42,848 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 39,493 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1999 | |||
Current Communities [Member] | Camden Highland Village [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 28,536 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 111,802 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 34 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 28,536 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 111,836 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 140,372 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 586 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 139,786 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2019 | |||
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 | 12,811 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,108 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 55,663 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 66,771 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,048 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 47,723 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 85,038 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 18 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,089 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 85,056 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 91,145 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,284 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 81,861 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2018 | |||
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 | 11,861 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,583 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,887 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 34,470 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,581 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,889 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1999 | |||
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 | 6,437 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,078 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 27,378 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,456 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,113 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,343 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2003 | |||
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 | 6,443 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,922 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,896 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 27,818 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,015 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 19,803 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 4,528 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,204 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,572 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,776 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,443 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 32,333 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2007 | |||
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 | 19,339 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,056 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 111,854 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 125,910 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 27,955 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 97,955 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2013 | |||
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 | 3,829 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,055 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,875 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 24,930 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,362 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,568 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2006 | |||
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 | 28 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 587 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,771 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,358 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,791 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 9,567 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 7,076 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,016 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,213 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 15,229 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,152 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 5,077 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 1993 | |||
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 | 5,004 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,614 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 32,598 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 40,212 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,840 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 30,372 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2012 | |||
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 | 2,028 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,780 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,132 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,912 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,104 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 21,808 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2010 | |||
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 | 26,933 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 16,076 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 71,851 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 87,927 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 49,883 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 38,044 | |||
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 | 2,016 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,188 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,258 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,446 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,332 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 18,114 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | 2008 | |||
Construction Communities [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 0 | |||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 413,439 | |||
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 | 413,439 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 413,439 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 69 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 413,370 | |||
Construction Communities [Member] | Camden Atlantic [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,259 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,259 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 19,259 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 19,259 | |||
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 | $ 55,166 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 55,166 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 55,166 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 55,166 | |||
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 | $ 123,465 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 123,465 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 123,465 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 48 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 123,417 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Construction Communities [Member] | Camden Hillcrest [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 42,669 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 42,669 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,669 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 42,669 | |||
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 | $ 75,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 75,000 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 75,000 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 75,000 | |||
Construction Communities [Member] | Camden North End II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,350 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,350 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,350 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 31,350 | |||
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 | $ 66,530 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 66,530 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 66,530 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 21 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 66,509 | |||
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 | 98,854 | |||
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 | 98,854 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 98,854 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 98,854 | |||
Development Pipeline Communities [Member] | Camden Arts District [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,888 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,888 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 26,888 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 26,888 | |||
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 | $ 11,406 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,406 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,406 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 11,406 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden Hayden II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 22,004 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,004 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,004 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 22,004 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden Highland Village II [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 8,025 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,025 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,025 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 8,025 | |||
Real Estate And Accumulated Depreciation Construction Completion Or Acquisition Date | N/A | |||
Development Pipeline Communities [Member] | Camden NoDa [Member] | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | $ 14,748 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,748 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,748 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 14,748 | |||
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 | $ 15,783 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,783 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 15,783 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 15,783 | |||
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 | 6,424 | |||
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 | 6,424 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,424 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | ||||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | 6,424 | |||
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 | 6,424 | |||
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,424 | |||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,424 | |||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||
Real Estate And Accumulated Depreciation Total Cost Of Real Estate Assets Net Of Accumulated Depreciation | $ 6,424 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule III - Real Estate and Accumulated Depreciation [Abstract] | |||
Balance, beginning of period | $ 8,328,475 | $ 7,667,743 | $ 7,376,690 |
Acquisition of operating properties and unconsolidated joint ventures | 422,309 | 286,901 | 56,985 |
Development and repositions | 341,236 | 300,294 | 224,202 |
Improvements | 75,360 | 84,841 | 71,889 |
Cost of real estate sold – other | (51,587) | (11,304) | (62,023) |
Balance, end of period | 9,115,793 | 8,328,475 | 7,667,743 |
Balance, Beginning of period | 2,403,149 | 2,118,839 | 1,890,656 |
Depreciation of real estate assets | 317,026 | 284,310 | 255,924 |
Dispositions | (34,150) | 0 | (27,741) |
Balance, End of period | 2,686,025 | $ 2,403,149 | $ 2,118,839 |
Real Estate, Federal Income Tax Basis | $ 8,200,000 |
Schedule IV - Mortgage Loans _3
Schedule IV - Mortgage Loans on Real Estate (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule IV - Mortgage Loans on Real Estate [Line Items] | ||||
Federal Income Tax Basis | $ 7,868 | |||
Carrying amount of mortgages | $ 7,868 | $ 9,314 | $ 18,790 | $ 17,224 |
Interest Rate on Mortgage Loans | 7.00% | 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 | $ 7,868 | |||
Carrying amount of mortgages | $ 7,868 | |||
Minimum [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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] | |||
Balance, beginning of period | $ 9,314 | $ 18,790 | $ 17,224 |
Advances under real estate loans | 0 | 0 | 1,566 |
Deductions | (1,446) | (9,476) | 0 |
Balance, end of period | $ 7,868 | $ 9,314 | $ 18,790 |