Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Jun. 30, 2014 | |
Document Information [Line Items] | ||
Document Type | 10-K | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Dec-14 | |
Document Fiscal Year Focus | 2014 | |
Document Fiscal Period Focus | FY | |
Trading Symbol | SUI | |
Entity Registrant Name | SUN COMMUNITIES INC | |
Entity Central Index Key | 912593 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 53,465,428 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Public Float | $1,948,452,037 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Investment property, net | $2,568,164 | $1,755,052 |
Cash and cash equivalents | 83,459 | 4,753 |
Inventory of manufactured homes | 8,860 | 5,810 |
Notes and other receivables, net | 174,857 | 162,141 |
Other assets | 102,352 | 67,148 |
TOTAL ASSETS | 2,937,692 | 1,994,904 |
LIABILITIES | ||
Secured debt | 1,826,293 | 1,311,437 |
Lines of credit | 5,794 | 181,383 |
Other liabilities | 165,453 | 118,543 |
TOTAL LIABILITIES | 1,997,540 | 1,611,363 |
Commitments and contingencies | ||
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Series A Preferred Stock, $0.01 par value. Authorized: 10,000 shares; Issued and outstanding: 3,400 shares at December 31, 2014 and 2013 | 34 | 34 |
Series A-4 Preferred Stock, $0.01 par value. Authorized: 6,331 shares; Issued and outstanding: 483 shares at December 31, 2014 and none at December 31, 2013 | 5 | 0 |
Common stock, $0.01 par value. Authorized: 90,000 shares; Issued and outstanding: 48,573 shares at December 31, 2014 and 36,140 shares at December 31, 2013 | 486 | 361 |
Additional paid-in capital | 1,754,759 | 1,141,590 |
Accumulated other comprehensive loss | 0 | -366 |
Distributions in excess of accumulated earnings | -863,545 | -773,301 |
Total Sun Communities, Inc. stockholders' equity (deficit) | 891,739 | 368,318 |
Common and preferred OP units | 48,829 | 15,760 |
Consolidated variable interest entities | -416 | -537 |
Total noncontrolling interests | 48,413 | 15,223 |
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | 940,152 | 383,541 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $2,937,692 | $1,994,904 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2014 |
Variable Interest Entity, Consolidated, Investment Property, net | $56,805 | $94,230 |
Variable Interest Entities, Consolidated, Debt | $45,209 | $65,849 |
Series A preferred stock, par or stated value per share | $0.01 | $0.01 |
Series A preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Series A preferred stock, shares issued | 3,400,000 | 3,400,000 |
Series A-4 preferred stock, par or stated value per share | $0 | $0.01 |
Series A-4 preferred stock, shares authorized | 0 | 6,331,000 |
Series A-4 preferred stock, shares issued | 0 | |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 90,000,000 | 90,000,000 |
Common stock, shares issued and outstanding | 36,140,000 | 48,573,000 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
REVENUES | |||
Income from real property | $357,793 | $313,097 | $255,761 |
Revenue from home sales | 53,954 | 54,852 | 45,147 |
Rental home revenue | 39,213 | 32,500 | 26,589 |
Ancillary revenues, net | 5,217 | 1,151 | -180 |
Interest | 14,462 | 13,073 | 11,018 |
Brokerage commissions and other income, net | 1,036 | 549 | 617 |
Total revenues | 471,675 | 415,222 | 338,952 |
COSTS AND EXPENSES | |||
Property operating and maintenance | 101,134 | 87,637 | 68,839 |
Real estate taxes | 24,181 | 22,284 | 19,207 |
Cost of home sales | 40,556 | 40,297 | 34,918 |
Rental home operating and maintenance | 23,270 | 20,435 | 18,141 |
General and administrative - real property | 31,769 | 25,941 | 20,037 |
General and administrative - home sales and rentals | 10,853 | 9,913 | 8,316 |
Transaction costs | 18,259 | 3,928 | 4,296 |
Depreciation and amortization | 133,726 | 110,078 | 89,674 |
Asset impairment charge | 837 | 0 | 0 |
Interest | 73,771 | 73,339 | 67,859 |
Interest on mandatorily redeemable debt | 3,210 | 3,238 | 3,321 |
Total expenses | 461,566 | 397,090 | 334,608 |
Income (loss) before income taxes and distributions from affiliate | 10,109 | 18,132 | 4,344 |
Gain on disposition of properties, net | 17,654 | 0 | 0 |
Gain on settlement | 4,452 | 0 | 0 |
Provision for state income taxes | -219 | -234 | -249 |
Distributions from affiliate | 1,200 | 2,250 | 3,900 |
Net income | 33,196 | 20,148 | 7,995 |
Less: Preferred return to Series A-1 preferred OP units | 2,654 | 2,598 | 2,329 |
Less: Preferred return to Series A-3 preferred OP units | 181 | 166 | 0 |
Less: Preferred return to Series A-4 preferred OP units | 100 | 0 | 0 |
Less: Amounts attributable to noncontrolling interests | 1,752 | 718 | -318 |
Net income attributable to Sun Communities, Inc. | 28,509 | 16,666 | 5,984 |
Less: Preferred stock distributions | 6,133 | 6,056 | 1,026 |
Net income attributable to Sun Communities, Inc. common stockholders | $22,376 | $10,610 | $4,958 |
Weighted average common shares outstanding: | |||
Basic | 41,337 | 34,228 | 26,970 |
Diluted | 41,805 | 34,410 | 27,125 |
Earnings (loss) per share: | |||
Basic | $0.54 | $0.31 | $0.19 |
Diluted | $0.54 | $0.31 | $0.18 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net income | $33,196 | $20,148 | $7,995 |
Unrealized gain (loss) on interest rate swaps | 97 | 362 | 643 |
Total comprehensive income (loss) | 33,293 | 20,510 | 8,638 |
Less: Comprehensive income (loss) attributable to the noncontrolling interests | 1,483 | 750 | -252 |
Comprehensive income (loss) attributable to Sun Communities, Inc. | $31,810 | $19,760 | $8,890 |
Consolidated_Statement_Of_Stoc
Consolidated Statement Of Stockholders' Equity (Deficit) (USD $) | Total | Series A-4 preferred stock [Member] | Common Stock [Member] | Additional Paid-in Capital | Accumulated Other Comprehensive (Loss) Income | Distributions in Excess of Accumulated Earnings | Noncontrolling Interests | Total Stockholders' Equity (Deficit) | Series A Preferred Stock [Member] |
In Thousands, unless otherwise specified | |||||||||
Balance at Dec. 31, 2010 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Prior period adjustment (Restatement Adjustment [Member]) | ($13,533) | $0 | $0 | $0 | $0 | ($12,189) | ($1,344) | $0 | |
Balance at Dec. 31, 2011 (Scenario, Previously Reported [Member]) | 0 | 218 | 492,399 | -1,273 | -617,953 | 25,954 | -100,655 | 0 | |
Balance (Restatement Adjustment [Member]) | -12,189 | ||||||||
Balance at Dec. 31, 2011 | 0 | 218 | 492,399 | -1,273 | -630,142 | 24,610 | -114,188 | 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Prior period adjustment (Restatement Adjustment [Member]) | -1,344 | ||||||||
Issuance of common stock from exercise of options, net | 0 | 0 | 166 | 0 | 0 | 0 | 166 | 0 | |
Issuance and associated costs of common stock, net | 0 | 80 | 300,554 | 0 | 0 | 0 | 300,634 | 0 | |
Issuance and associated costs of Series A Preferred Stock | 0 | 0 | 82,166 | 0 | 0 | 0 | 82,200 | 34 | |
Share-based compensation - amortization and forfeitures | 0 | 0 | 1,335 | 0 | 90 | 0 | 1,425 | 0 | |
Net income | 7,995 | 0 | 0 | 0 | 0 | 8,313 | -318 | 7,995 | 0 |
Unrealized gain (loss) on interest rate swaps | 643 | 0 | 0 | 0 | 577 | 0 | 66 | 643 | 0 |
Distributions | 0 | 0 | 0 | 0 | -74,184 | -5,234 | 79,418 | 0 | |
Issuance and associated costs of Series A-4 preferred stock | 0 | ||||||||
Issuance of preferred OP units | 0 | ||||||||
Balance at Dec. 31, 2012 (Scenario, Previously Reported [Member]) | -683,734 | 20,468 | |||||||
Balance (Restatement Adjustment [Member]) | -12,189 | ||||||||
Balance at Dec. 31, 2012 | 0 | 298 | 876,620 | -696 | -695,923 | 19,124 | 199,457 | 34 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Prior period adjustment (Restatement Adjustment [Member]) | -1,344 | ||||||||
Issuance of common stock from exercise of options, net | 0 | 0 | 201 | 0 | 0 | 0 | 201 | 0 | |
Issuance and associated costs of common stock, net | 0 | 63 | 261,697 | 0 | 0 | 0 | 261,760 | 0 | |
Share-based compensation - amortization and forfeitures | 0 | 0 | 3,072 | 0 | 127 | 0 | 3,199 | 0 | |
Net income | 20,148 | 0 | 0 | 0 | 0 | 19,430 | 718 | 20,148 | 0 |
Unrealized gain (loss) on interest rate swaps | 362 | 0 | 0 | 0 | 330 | 0 | 32 | 362 | 0 |
Distributions | 0 | 0 | 0 | 0 | -96,935 | -8,114 | 105,049 | 0 | |
Issuance of preferred OP units | 0 | 0 | 0 | 0 | 0 | 3,463 | 3,463 | 0 | |
Issuance and associated costs of Series A-4 preferred stock | 0 | ||||||||
Issuance of preferred OP units | 0 | ||||||||
Balance at Dec. 31, 2013 (Scenario, Previously Reported [Member]) | 397,074 | -761,112 | 16,567 | ||||||
Balance (Restatement Adjustment [Member]) | -13,533 | -12,189 | |||||||
Balance at Dec. 31, 2013 | 383,541 | 0 | 361 | 1,141,590 | -366 | -773,301 | 15,223 | 383,541 | 34 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Issuance of common stock from exercise of options, net | 0 | 0 | 127 | 0 | 0 | 0 | 127 | 0 | |
Issuance and associated costs of common stock, net | 0 | 125 | 594,940 | 0 | 0 | -2,638 | 592,427 | 0 | |
Share-based compensation - amortization and forfeitures | 0 | 0 | 4,706 | 0 | 173 | 0 | 4,879 | 0 | |
Net income | 33,196 | 0 | 0 | 0 | 0 | 31,444 | 1,752 | 33,196 | 0 |
Unrealized gain (loss) on interest rate swaps | 97 | 0 | 0 | 0 | 366 | 0 | -269 | 97 | 0 |
Distributions | 112,300 | 0 | 0 | 0 | 0 | -121,861 | -8,567 | 130,428 | 0 |
Issuance and associated costs of Series A-4 preferred stock | 13,610 | 5 | 0 | 13,605 | 0 | 0 | 0 | 13,610 | 0 |
Issuance of preferred OP units | 18,852 | 0 | 0 | 0 | 0 | 0 | 18,852 | 18,852 | 0 |
Issuance of common OP units | 0 | 0 | 0 | 0 | 0 | 24,064 | 24,064 | 0 | |
Settlement of membership interest | 0 | 0 | -209 | 0 | 0 | -4 | -213 | 0 | |
Balance at Dec. 31, 2014 | $940,152 | $5 | $486 | $1,754,759 | $0 | ($863,545) | $48,413 | $940,152 | $34 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
OPERATING ACTIVITIES: | |||
Net income | $33,196 | $20,148 | $7,995 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Gain on disposition of properties, net | 17,654 | 0 | 0 |
Gain (Loss) on Disposition of Assets | 2,748 | 867 | 99 |
Asset impairment charges | 837 | 0 | 0 |
(Gain) loss on valuation of derivative instruments | 0 | 0 | -4 |
Stock compensation expense | 4,879 | 3,199 | 1,463 |
Depreciation, Amortization and Accretion, Net | 131,003 | 105,210 | 86,487 |
Amortization of deferred financing costs | 1,056 | 2,713 | 1,619 |
Distributions from affiliate | -1,200 | -2,250 | -3,900 |
Change in notes receivable from financed sales of inventory homes, net of repayments | -15,300 | -6,228 | -8,583 |
Increase (Decrease) in Other Operating Assets | -11,144 | -1,441 | -1,211 |
Change in accounts payable and other liabilities | 10,395 | -5,801 | 3,484 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 133,320 | 114,683 | 87,251 |
INVESTING ACTIVITIES: | |||
Investment in properties | -177,866 | -179,413 | -125,075 |
Acquisition of properties | -426,591 | -122,176 | -249,317 |
Payments for Deposits on Real Estate Acquisitions | 17,064 | 0 | 0 |
Investment in note receivable of acquired properties | 0 | -49,441 | 0 |
Proceeds related to affiliate dividend distribution | 1,200 | 2,250 | 3,900 |
Proceeds from Sale of Land Held-for-use | 221 | 0 | 172 |
Proceeds related to disposition of assets and depreciated homes, net | 3,312 | -1,017 | 936 |
Proceeds related to the disposition of properties | 59,706 | 0 | 0 |
Issuance of notes and other receivables | 297 | -3,841 | -6,440 |
Repayments of notes and other receivables | 6,080 | 1,226 | 605 |
NET CASH USED FOR INVESTING ACTIVITIES | -550,705 | -352,412 | -375,219 |
FINANCING ACTIVITIES: | |||
Issuance and associated costs of common stock, OP units and preferred OP units, net | 572,171 | 261,760 | 300,634 |
Net proceeds from stock option exercise | 127 | 201 | 166 |
Net proceeds from issuance of Series A Preferred Stock | 0 | 0 | 82,200 |
Distributions to stockholders, OP unit holders, and preferred OP unit holders | -121,377 | -100,403 | -73,371 |
Payments to retire preferred operating partnership units | -1,119 | -300 | 0 |
Borrowings on lines of credit | 526,546 | 415,410 | 253,195 |
Payments on lines of credit | -702,135 | -263,808 | -352,448 |
Proceeds from issuance of other debt | 323,241 | 175,507 | 192,278 |
Payments on other debt | -95,269 | -269,400 | -89,004 |
Proceeds received from return of prepaid deferred financing costs | 2,384 | 0 | 0 |
Payments for deferred financing costs | -8,478 | -5,993 | -2,031 |
NET CASH PROVIDED BY (USED FOR) FOR FINANCING ACTIVITIES | 496,091 | 212,974 | 311,619 |
Net change in cash and cash equivalents | 78,706 | -24,755 | 23,651 |
Cash and cash equivalents, beginning of period | 4,753 | 29,508 | 5,857 |
Cash and cash equivalents, end of period | 83,459 | 4,753 | 29,508 |
SUPPLEMENTAL INFORMATION: | |||
Cash paid for interest | 60,289 | 61,268 | 79,400 |
Cash paid for interest on mandatorily redeemable debt | 3,225 | 3,238 | 3,326 |
Cash paid for state income taxes | 314 | 155 | 320 |
Noncash investing and financing activities: | |||
Unrealized gain (loss) on interest rate swaps | 97 | 362 | 643 |
Reduction in secured borrowing balance | 21,812 | 17,906 | 13,680 |
Dividends | 9,051 | 4,646 | 21,093 |
Settlement of membership interest | 213 | 0 | 0 |
Noncash investing and financing activities at the date of acquisition: | |||
Acquisitions - Series A-3 preferred OP units issued | 0 | 3,463 | 0 |
Acquisitions - Series A-4 Preferred OP units issued | 18,852 | 0 | 0 |
Acquisitions - Series A-4 Preferred Stock issued | 13,610 | 0 | 0 |
Acquisitions - Common stock and OP units issued | 44,321 | 0 | 0 |
Acquisitions - debt assumed | 209,658 | 0 | 62,826 |
Acquisitions - other liabilities | 4,221 | 0 | 880 |
Acquisitions - release of note receivable and accrued interest | $0 | $49,441 | $0 |
Consolidated_Statements_Of_Cas1
Consolidated Statements Of Cash Flows Consolidated Statements of Cash Flows (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest Costs Capitalized | $464 | $678 | $0 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | |||||||||||||
Significant Accounting Policies [Text Block] | Summary of Significant Accounting Policies | ||||||||||||
Business | |||||||||||||
Sun Communities, Inc., a Maryland corporation, together with the Sun Communities Operating Limited Partnership, a Michigan limited partnership (the “Operating Partnership”) and other consolidated subsidiaries are referred to herein as the “Company”, “us”, “we”, and “our”. We are a self-administered and self-managed real estate investment trust (“REIT”). | |||||||||||||
We own, operate, and develop manufactured housing ("MH") and recreational vehicle ("RV") communities throughout the United States. As of December 31, 2014, we owned and operated a portfolio of 217 properties located in 29 states (the “Properties”), including 183 MH communities, 25 RV communities, and nine properties containing both MH and RV sites. As of December 31, 2014, the Properties contained an aggregate of 79,554 developed sites comprised of 61,231 developed manufactured home sites, 9,297 annual RV sites (inclusive of both annual and seasonal usage rights), 9,026 transient RV sites, and approximately 7,000 additional MH and RV sites suitable for development. | |||||||||||||
Principles of Consolidation | |||||||||||||
The accompanying financial statements include our accounts and all majority-owned and controlled subsidiaries, including entities in which we have a controlling interest or have been determined to be the primary beneficiary of a variable interest entity ("VIE"). All inter-company transactions have been eliminated in consolidation. Any subsidiaries in which we have an ownership percentage equal to or greater than 50%, but less than 100%, or consider a VIE, represent subsidiaries with a noncontrolling interest. The noncontrolling interests in our subsidiaries are allocated their proportionate share of the subsidiaries’ financial results. This allocation is recorded as the noncontrolling interest in our consolidated financial statements. | |||||||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions related to the reported amounts included in our consolidated financial statements and accompanying footnote disclosures. Actual results could differ from those estimates. | |||||||||||||
Reclassifications and Revisions | |||||||||||||
Certain reclassifications have been made to prior periods’ financial statements in order to conform to current period presentation. | |||||||||||||
In the fourth quarter of 2014, management identified that certain accruals related to real estate taxes, deferred revenue and utilities primarily associated with communities acquired prior to 2007 were incorrect. The cumulative reivison for the incorrect accruals approximated $13.5 million. | |||||||||||||
Pursuant to the guidance of Staff Accounting Bulletin (“SAB”) No. 99, Materiality, the Company concluded that the errors were not material to any of its prior period financial statements. Although the errors were immaterial to prior periods, the prior period financial statements were revised, in accordance with SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, due to the significance of the out-of-period correction in the fourth quarter of 2014. | |||||||||||||
1 | Summary of Significant Accounting Policies, continued | ||||||||||||
A reconciliation of the effects of the revisions to the previously reported balance sheet at December 31, 2013 follows: | |||||||||||||
31-Dec-13 | |||||||||||||
As reported | Revision | As revised | |||||||||||
(in thousands) | |||||||||||||
Notes and other receivables, net | $ | 164,685 | $ | (2,544 | ) | $ | 162,141 | ||||||
Other assets, net | $ | 68,936 | $ | (1,788 | ) | $ | 67,148 | ||||||
Total assets | $ | 1,999,236 | $ | (4,332 | ) | $ | 1,994,904 | ||||||
Other liabilities | $ | 109,342 | $ | 9,201 | $ | 118,543 | |||||||
Total liabilities | $ | 1,602,162 | $ | 9,201 | $ | 1,611,363 | |||||||
Distributions in excess of accumulated earnings | $ | (761,112 | ) | $ | (12,189 | ) | $ | (773,301 | ) | ||||
Common and preferred OP units | $ | 17,104 | $ | (1,344 | ) | $ | 15,760 | ||||||
Total stockholders' equity | $ | 397,074 | $ | (13,533 | ) | $ | 383,541 | ||||||
A reconciliation of the effects of the revisions to the previously reported statement of stockholders' equity (deficit) for the years ending December 31, 2013, 2012 and 2011 follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(in thousands) | |||||||||||||
Distributions in excess of accumulated earnings, as reported | $ | (761,112 | ) | $ | (683,734 | ) | $ | (617,953 | ) | ||||
Prior period revision | (12,189 | ) | (12,189 | ) | (12,189 | ) | |||||||
Distributions in excess of accumulated earnings, revised | $ | (773,301 | ) | $ | (695,923 | ) | $ | (630,142 | ) | ||||
Noncontrolling interests, as reported | $ | 16,567 | $ | 20,468 | $ | 25,954 | |||||||
Prior period revision | (1,344 | ) | (1,344 | ) | (1,344 | ) | |||||||
Noncontrolling interests, revised | $ | 15,223 | $ | 19,124 | $ | 24,610 | |||||||
Investment Property | |||||||||||||
Investment property is recorded at cost, less accumulated depreciation. We review the carrying value of long-lived assets to be held and used for impairment quarterly or whenever events or changes in circumstances indicate a possible impairment.Our primary indicator for potential impairment is based on NOI trends period over period. Circumstances that may prompt a test of recoverability may include a significant decrease in the anticipated market price, an adverse change to the extent or manner in which an asset may be used or in its physical condition or other such events that may significantly change the value of the long-lived asset. An impairment loss is recognized when a long-lived asset’s carrying value is not recoverable and exceeds estimated fair value. We estimate the fair value of our long-lived assets based on discounted future cash flows and any potential disposition proceeds for a given asset. Forecasting cash flows requires management to make estimates and assumptions about such variables as the estimated holding period, rental rates, occupancy and operating expenses during the holding period, as well as disposition proceeds. Management uses its best judgment when developing these estimates and assumptions, but the development of the projected future cash flows is based on subjective variables. Future events could occur which would cause us to conclude that impairment indicators exist, and significant adverse changes in national, regional, or local market conditions or trends may cause us to change the estimates and assumptions used in our impairment analysis. The results of an impairment analysis could be material to our financial statements. | |||||||||||||
1 | Summary of Significant Accounting Policies, continued | ||||||||||||
We periodically receive offers from interested parties to purchase certain of our properties. These offers may be the result of an active program initiated by us to sell the property, or from an unsolicited offer to purchase the property. The typical sale process involves a significant negotiation and due diligence period between us and the potential purchaser. As the intent of this process is to determine if there are items that would cause the purchaser to be unwilling to purchase or we would be unwilling to sell, it is not unusual for such potential offers of sale/purchase to be withdrawn as such issues arise. We classify assets as “held for sale” when it is probable, in our opinion, that a sale transaction will be completed within one year. This typically occurs when all significant contingencies surrounding the closing have been resolved, which often corresponds with the closing date. | |||||||||||||
We allocate the purchase price of properties to net tangible and identified intangible assets acquired based on their fair values. In making estimates of fair values for purposes of allocating purchase price, we utilize an independent third party to value the net tangible and identified intangible assets in connection with the acquisition of the respective property. We provide historical and pro forma financial information obtained about each property, as well as any other information needed in order for the third party to ascertain the fair value of the tangible and intangible assets (including in-place leases) acquired. | |||||||||||||
Other Capitalized Costs | |||||||||||||
We capitalize certain costs incurred in connection with the development, redevelopment, capital enhancement and leasing of our properties. Management is required to use professional judgment in determining whether such costs meet the criteria for immediate expense or capitalization. The amounts are dependent on the volume and timing of such activities and the costs associated with such activities. Maintenance, repairs and minor improvements to properties are expensed when incurred. Renovations and improvements to properties are capitalized and depreciated over their estimated useful lives and construction costs related to the development of new community or expansion sites are capitalized until the property is substantially complete. Costs incurred to initially renovate pre-owned and repossessed homes that we acquire for our Rental Program are capitalized and costs incurred to refurbish the homes at turnover and repair the homes while occupied are expensed. Certain expenditures to dealers and residents related to obtaining lessees in our communities are capitalized and amortized over a seven year period based on the anticipated term of occupancy of a resident. Costs associated with implementing our computer systems are capitalized and amortized over the estimated useful lives of the related software and hardware. Costs incurred to obtain new financing are capitalized and amortized over the terms of the related loan agreement using the straight-line method (which approximates the effective interest method). | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
We consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash and cash equivalents. The maximum amount of credit risk arising from cash deposits in excess of federally insured amounts was approximately $80.7 million and $5.7 million as of December 31, 2014 and 2013, respectively. From time to time, we may have cash deposits in excess of federally insured amounts. | |||||||||||||
Inventory | |||||||||||||
Inventory of manufactured homes is stated at lower of specific cost or market based on the specific identification method. | |||||||||||||
Investments in Affiliates | |||||||||||||
Investments in affiliates in which we do not have a controlling direct or indirect voting interest, but can exercise significant influence over the entity with respect to its operations and major decisions, are accounted for using the equity method of accounting. The carrying value of our investment is adjusted for our proportionate share of the affiliate’s net income or loss and reduced by distributions received. We review the carrying value of our investment in affiliates for other than temporary impairment whenever events or changes in circumstances indicate a possible impairment. Financial condition, operational performance, and other economic trends are some of the factors we consider when we evaluate the existence of impairment indicators. When we have a carrying value of zero for our investment, we suspend the equity method of accounting until such time that the affiliate’s net income equals or exceeds the share of net losses not recognized during the time in which the equity method of accounting was suspended. See Note 7 for additional information. | |||||||||||||
1. Summary of Significant Accounting Policies, continued | |||||||||||||
Notes and Other Receivables | |||||||||||||
We provide financing to purchasers of manufactured homes generally located in our communities. The notes are collateralized by the underlying manufactured home sold. Notes receivable include both installment loans retained by the Company as well as transferred loans that have not met the requirements for sale accounting which are presented herein as collateralized receivables (See Note 5 for additional information). For purposes of accounting policy, all notes receivable are considered one homogenous population, as the notes are typically underwritten using the same requirements and terms. Notes receivable are reported at their outstanding unpaid principal balance adjusted for an allowance for loan loss. Interest income is accrued based upon the unpaid principal balance of the loans. | |||||||||||||
Past due status of our notes receivable is determined based upon the contractual terms of the note. When a note receivable becomes 60 days delinquent, we stop accruing interest on the note receivable. The interest on nonaccrual loans is accounted for on the cash | |||||||||||||
basis until qualifying for return to accrual. Loans are returned to accrual when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. Loans on a nonaccrual status were immaterial at December 31, 2014 and 2013. The ability to collect our notes receivable is measured based on current and historical information and events. We consider numerous factors including: length of delinquency, estimated costs to lease or sell, and repossession history. Our experience supports a high recovery rate for notes receivable; however there is some degree of uncertainty about the recoverability of our investment in these notes receivable. We are generally able to recover our recorded investment in uncollectible notes receivable by repossessing the homes on the notes retained by us and repurchasing the homes on the collateralized receivables, and subsequently selling or leasing these homes to potential residents in our communities. We have established a loan loss reserve based on our estimated unrecoverable costs associated with repossessed/repurchased homes. We estimate our unrecoverable costs to be the repurchase price of the home collateralizing the note receivable plus repair and remarketing costs in excess of the estimated selling price of the home being repossessed. A historical average of this excess cost is calculated based on prior repossessions/repurchases and is applied to our estimated annual future repossessions to create the allowance for both installment and collateralized notes receivable. See Note 5 for additional information. | |||||||||||||
We evaluate the collectability of a loan based on our ability to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. We generally see that if the obligor is delinquent on the loan they are also delinquent on site rent. If the scheduled payment is delinquent more than five to seven days, dependent on state law, we begin the repossession and eviction process simultaneously. This process generally takes 30 to 45 days; due to the short time frame from delinquent loan to repossession we do not evaluate the note receivables for impairment. No loans were considered impaired as of December 31, 2014 and 2013. | |||||||||||||
We evaluate the credit quality of our notes receivable at the inception of the receivable. We consider the following factors in order to determine the credit quality of the applicant - rental payment history; home debt to income ratio; total debt to income ratio; length of employment; previous landlord references; and credit scores. | |||||||||||||
Other receivables are generally comprised of amounts due from residents for rent and related charges, home sale proceeds receivable from sales near year end and various other miscellaneous receivables. Accounts receivable from residents are typically due within 30 days and stated at amounts due from residents net of an allowance for doubtful accounts. Accounts outstanding longer than the contractual payment terms are considered past due. We evaluate the recoverability of our receivables whenever events occur or there are changes in circumstances such that management believes it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan and lease agreements. Receivables related to community rents are reserved when we believe that collection is less than probable, which is generally after a resident balance reaches 60 to 90 days past due. | |||||||||||||
Restricted Cash | |||||||||||||
Restricted cash consists of amounts held in deposit at a financial institution to collateralize derivative instruments in a liability position and deposits for tax, insurance and repair escrows held by lenders in accordance with certain debt agreements. At December 31, 2014 and 2013, $11.8 million and $9.4 million of restricted cash, respectively, was included as a component of Other assets on the consolidated balance sheets. | |||||||||||||
1 | Summary of Significant Accounting Policies, continued | ||||||||||||
Identified Intangible Assets | |||||||||||||
The Company amortizes identified intangible assets that are determined to have finite lives over the period the assets are expected to contribute directly or indirectly to the future cash flows of the property or business. At December 31, 2014 and 2013, the carrying amounts of the identified intangible assets are included in Other assets on the consolidated balance sheets. See Note 6 for additional information on our intangible assets. | |||||||||||||
Deferred Tax Assets | |||||||||||||
We are subject to certain state taxes that are considered to be income taxes and have certain subsidiaries that are taxed as regular corporations. Deferred tax assets or liabilities are recognized for temporary differences between the tax basis of assets and liabilities and their carrying amounts in the financial statements and net operating loss carryforwards. Deferred tax assets and liabilities are measured using currently enacted tax rates. A valuation allowance is established if, based on the available evidence, it is considered more likely than not that some portion or all of the deferred tax assets will not be realized. See Note 13 for additional information. | |||||||||||||
Deferred Financing Costs | |||||||||||||
Deferred financing costs include fees and costs incurred to obtain long-term financing. The costs are amortized over the terms of the respective loans. Unamortized deferred financing costs are written off when debt is retired before the maturity date. Upon amendment of the line of credit or refinancing of mortgage debt, unamortized deferred financing costs are accounted for in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 470-50-40, Modifications and Extinguishments. At December 31, 2014 and 2013, deferred financing costs are included as a component of Other assets on the consolidated balance sheets. | |||||||||||||
Share-Based Compensation | |||||||||||||
Share-based compensation cost for service vesting restricted stock awards is measured based on the closing share price of our common stock on the date of grant. Share-based compensation for restricted stock awards with performance conditions is measured based on an estimate of shares expected to vest. If it is not probable that the performance conditions will be satisfied, we do not recognize compensation expense. We measure the fair value of awards with performance conditions using the closing price of our common stock as of the grant date to calculate compensation cost. Each reporting period, we reevaluate our estimate of the number of shares expected to vest. We estimate the fair value of share-based compensation for restricted stock with market conditions using a Monte Carlo simulation. We recognize compensation cost ratably over each tranche of shares based on the fair value estimated by the model. | |||||||||||||
Share-based compensation cost for stock options is estimated at the grant date based on each option’s fair-value as calculated by the Binomial (lattice) option-pricing model. The Binomial (lattice) option-pricing model incorporates various assumptions including expected volatility, expected life, dividend yield, and interest rates. See Note 11 for additional information. | |||||||||||||
Fair Value of Financial Instruments | |||||||||||||
Our financial instruments consist of cash and cash equivalents, accounts and notes receivable, accounts payable, derivative instruments, and debt. We utilize fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures, pursuant to FASB ASC 820, Fair Value Measurements and Disclosures. See Note 17 for additional information regarding the estimates and assumptions used to estimate the fair value of each class of financial instrument. | |||||||||||||
Revenue Recognition | |||||||||||||
Rental income attributable to site and home leases is recorded on a straight-line basis when earned from tenants. Leases entered into by tenants are generally for one year terms but may range from month-to-month to two years and are renewable by mutual agreement from us and the resident, or in some cases, as provided by state statute. Revenue from the sale of manufactured homes is recognized upon transfer of title at the closing of the sales transaction. Interest income on notes receivable is recorded on a level yield basis over the life of the notes. We report certain taxes collected from the resident and remitted to taxing authorities in revenue. These taxes include certain Florida property and fire taxes. | |||||||||||||
1 | Summary of Significant Accounting Policies, continued | ||||||||||||
Advertising Costs | |||||||||||||
Advertising costs are expensed as incurred. As of December 31, 2014, 2013 and 2012, we had advertising costs of $3.2 million, $2.9 million and $2.5 million, respectively. | |||||||||||||
Depreciation and Amortization | |||||||||||||
Depreciation and amortization are computed on a straight-line basis over the estimated useful lives of the assets. Useful lives are 30 years for land improvements and buildings, 10 years for rental homes, seven to 15 years for furniture, fixtures and equipment, and seven to 15 years for intangible assets. | |||||||||||||
Derivative Instruments and Hedging Activities | |||||||||||||
We do not enter into derivative instruments for speculative purposes. We adjust our balance sheet on a quarterly basis to reflect the current fair market value of our derivatives. For those hedges that qualify for cash flow hedge accounting, we adjust our balance sheet on a quarterly basis to reflect current fair market value of our derivatives. Changes in the fair value of derivatives are recorded in earnings or comprehensive income, as appropriate. The ineffective portion of the hedge is immediately recognized in earnings to the extent that the change in value of a derivative does not perfectly offset the change in value of the instrument being hedged. The effective portion of the hedge is recorded in accumulated other comprehensive income. We use standard market conventions to determine the fair values of derivative instruments, including the quoted market prices or quotes from brokers or dealers for the same or similar instruments. All methods of assessing fair value result in a general approximation of value and such value may never actually be realized. See Note 16 for additional information. Cash flows from derivative instruments are classified in the same category as the cash flows of the underlying hedged items, which are in the operating activities section of the consolidated statements of cash flows. |
Real_Estate_Acquisitions_and_D
Real Estate Acquisitions and Dispositions | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||
Real Estate Acquisitions and Dispositions | Real Estate Acquisitions and Dispositions | ||||||||||||||||||||||||||||||||
Green Courte | |||||||||||||||||||||||||||||||||
First Closing | |||||||||||||||||||||||||||||||||
During the fourth quarter of 2014, we completed the first closing of the acquisition of the Green Courte properties. We acquired 32 MH communities with over 9,000 developed sites in 11 states. Included in the total consideration paid for the first closing was the issuance of 361,797 shares of common stock, 501,130 common OP units, 483,317 shares of Series A-4 Preferred Stock and 669,449 Series A-4 preferred OP units. | |||||||||||||||||||||||||||||||||
Second Closing | |||||||||||||||||||||||||||||||||
Subsequent to year-end, in January 2015, we completed the second closing of the acquisition of the Green Courte properties. We acquired the remaining 26 communities comprised of over 10,000 sites. Included in the total consideration paid for the second closing was the issuance of 4,377,072 shares of common stock and 5,847,234 shares of Series A-4 Preferred Stock. | |||||||||||||||||||||||||||||||||
Additionally, subsequent to year-end, one of Green Courte Partners funds purchased 150,000 shares of our common stock and 200,000 Series A-4 preferred OP units, for an aggregate purchase price of $12.5 million. | |||||||||||||||||||||||||||||||||
2. Real Estate Acquisitions and Dispositions, continued | |||||||||||||||||||||||||||||||||
The following tables summarize the fair value of the assets acquired and liabilities assumed at the acquisition dates and the consideration paid (in thousands): | |||||||||||||||||||||||||||||||||
First Closing | Second Closing | ||||||||||||||||||||||||||||||||
At Acquisition Date | November 26, 2014 (1) | January 6, 2015 (1) | Total | ||||||||||||||||||||||||||||||
Investment in property | $ | 656,965 | $ | 818,530 | $ | 1,475,495 | |||||||||||||||||||||||||||
Notes receivable | 5,189 | 964 | 6,153 | ||||||||||||||||||||||||||||||
Other (liabilities) assets | (4,221 | ) | 4,221 | — | |||||||||||||||||||||||||||||
In-place leases and other intangible assets | 12,870 | 15,460 | 28,330 | ||||||||||||||||||||||||||||||
Below market lease intangible | (10,820 | ) | (54,580 | ) | (65,400 | ) | |||||||||||||||||||||||||||
Assumed debt | (199,300 | ) | (171,300 | ) | (370,600 | ) | |||||||||||||||||||||||||||
Total identifiable assets and liabilities assumed | $ | 460,683 | $ | 613,295 | $ | 1,073,978 | |||||||||||||||||||||||||||
Consideration | |||||||||||||||||||||||||||||||||
Common OP units (2) | $ | 24,064 | $ | — | $ | 24,064 | |||||||||||||||||||||||||||
Series A-4 preferred OP units (3) | 18,852 | 1,000 | 19,852 | ||||||||||||||||||||||||||||||
Common stock | 20,257 | 258,918 | 279,175 | ||||||||||||||||||||||||||||||
Series A-4 Preferred Stock | 13,610 | 175,417 | 189,027 | ||||||||||||||||||||||||||||||
Consideration from new mortgages | 100,700 | 120,960 | 221,660 | ||||||||||||||||||||||||||||||
Cash consideration transferred | 283,200 | 57,000 | 340,200 | ||||||||||||||||||||||||||||||
Total consideration transferred | $ | 460,683 | $ | 613,295 | $ | 1,073,978 | |||||||||||||||||||||||||||
(1) The purchase price allocations for the first and second closings are preliminary and may be adjusted as final costs and final valuations are determined. | |||||||||||||||||||||||||||||||||
(2) To estimate the fair value of the common OP units at the valuation date, we utilized the market approach, observing public price of our common stock. | |||||||||||||||||||||||||||||||||
(3) To estimate the fair value of the Series A-4 preferred OP units at the valuation date, we utilized a Binomial Lattice Method of the income approach. | |||||||||||||||||||||||||||||||||
The amount of revenue and net income included in the consolidated statements of operations related to the Green Courte properties for the year ended December 31, 2014 is set forth in the following table (in thousands): | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||||||
Revenue | $ | 6,515 | |||||||||||||||||||||||||||||||
Net income | $ | (6,744 | ) | ||||||||||||||||||||||||||||||
2. Real Estate Acquisitions and Dispositions, continued | |||||||||||||||||||||||||||||||||
2014 Other Acquisitions: | |||||||||||||||||||||||||||||||||
In December 2014, we acquired Oak Creek, a MH community with 198 sites located in Coarsegold, California. | |||||||||||||||||||||||||||||||||
In June 2014, we acquired Lake Rudolph Campground and Recreational Vehicle Resort ("Lake Rudolph"), an RV community with 503 sites located in Santa Claus, Indiana. | |||||||||||||||||||||||||||||||||
In April 2014, we acquired Saco/Old Orchard Beach RV Resort ("Saco"), an RV community with 127 sites located in Saco, Maine. | |||||||||||||||||||||||||||||||||
In February 2014, we acquired Driftwood Camping Resort ("Driftwood"), an RV community with 698 sites and expansion potential of approximately 30 sites located in Clermont, New Jersey, and Seashore Campsites RV and Campground ("Seashore"), an RV community with 685 sites located in Cape May, New Jersey. | |||||||||||||||||||||||||||||||||
In January 2014, we acquired Castaways RV Resort & Campground ("Castaways"), an RV community with 369 sites and expansion potential of approximately 25 sites located in Worcester County, Maryland, and Wine Country RV Resort ("Wine Country"), an RV community with 166 sites and expansion potential of approximately 34 sites located in Paso Robles, California. | |||||||||||||||||||||||||||||||||
The following tables summarize the fair value of the assets acquired and liabilities assumed at the acquisition dates and the consideration paid for other acquisitions completed in 2014 (in thousands): | |||||||||||||||||||||||||||||||||
At Acquisition Date | Wine Country | Castaways | Seashore | Driftwood | Saco (1) | Lake Rudolph(1) | Oak Creek (1) | Total | |||||||||||||||||||||||||
Investment in property | $ | 13,250 | $ | 36,597 | $ | 24,258 | $ | 31,301 | $ | 4,366 | $ | 30,454 | $ | 15,944 | $ | 156,170 | |||||||||||||||||
In-place leases and other intangible assets | — | — | 500 | 790 | — | — | 390 | 1,680 | |||||||||||||||||||||||||
Other assets | 9 | 2 | 12 | 4 | 31 | 64 | 236 | 358 | |||||||||||||||||||||||||
Below market lease and franchise intangibles | — | — | — | — | (6 | ) | — | (140 | ) | (146 | ) | ||||||||||||||||||||||
Other liabilities | (60 | ) | (497 | ) | (1,188 | ) | (836 | ) | (258 | ) | (1,417 | ) | (57 | ) | (4,313 | ) | |||||||||||||||||
Assumed debt | — | — | — | — | — | — | (10,358 | ) | (10,358 | ) | |||||||||||||||||||||||
Total identifiable assets and liabilities assumed | $ | 13,199 | $ | 36,102 | $ | 23,582 | $ | 31,259 | $ | 4,133 | $ | 29,101 | $ | 6,015 | $ | 143,391 | |||||||||||||||||
Consideration | |||||||||||||||||||||||||||||||||
Cash consideration transferred | $ | 13,199 | $ | 36,102 | $ | 23,582 | $ | 31,259 | $ | 4,133 | $ | 29,101 | $ | 6,015 | $ | 143,391 | |||||||||||||||||
(1) The purchase price allocations for Saco, Lake Rudolph and Oak Creek are preliminary and may be adjusted as final costs and final valuations are determined. | |||||||||||||||||||||||||||||||||
The following unaudited pro forma financial information presents the results of our operations for the years ended December 31, 2014 and 2013 as if the properties acquired during 2014 were acquired on January 1, 2013. The unaudited pro forma results reflect certain adjustments for items that are not expected to have a continuing impact, such as adjustments for transaction costs incurred, management fees and purchase accounting. The information presented below has been prepared for comparative purposes only and does not purport to be indicative of either future results of operations or the results of operations that would have actually occurred had the acquisitions been consummated on January 1, 2013 (in thousands, except per-share data). | |||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Total revenues | $ | 567,731 | $ | 539,020 | |||||||||||||||||||||||||||||
Net income attributable to Sun Communities, Inc. common stockholders | $ | 83,125 | $ | 60,985 | |||||||||||||||||||||||||||||
Net income per share attributable to Sun Communities, Inc. common stockholders - basic | $ | 2.01 | $ | 1.78 | |||||||||||||||||||||||||||||
Net income per share attributable to Sun Communities, Inc. common stockholders - diluted | $ | 1.99 | $ | 1.77 | |||||||||||||||||||||||||||||
2. Real Estate Acquisitions and Dispositions, continued | |||||||||||||||||||||||||||||||||
2013 Acquisition Activity: | |||||||||||||||||||||||||||||||||
During the fourth quarter of 2013, we acquired Camelot Villa, a MH community with approximately 712 sites located in Macomb, Michigan, Jellystone Park at Birchwood Acres ("Jellystone at Birchwood"), an RV community with approximately 269 sites located in Woodridge, New York, and Vines RV Resort ("Vines"), an RV community with approximately 130 sites located in Paso Robles, California. | |||||||||||||||||||||||||||||||||
During the second quarter of 2013, we acquired Big Timber Lake RV Resort ("Big Timber Lake"), an RV community with approximately 528 sites located in Cape May, New Jersey, and Jellystone RV Resort ("Jellystone"), an RV community with approximately 299 sites located in North Java, New York. | |||||||||||||||||||||||||||||||||
During the first quarter of 2013, we acquired 10 RV communities from Gwynns Island RV Resort LLC, Indian Creek RV Resort LLC, Lake Laurie RV Resort LLC, Newpoint RV Resort LLC, Peters Pond RV Resort Inc., Seaport LLC, Virginia Tent LLC, | |||||||||||||||||||||||||||||||||
Wagon Wheel Maine LLC, Westward Ho RV Resort LLC and Wild Acres LLC (collectively, "Morgan RV Properties"), with approximately 3,700 sites located in Ohio, Virginia, Maine, Massachusetts, Connecticut, New Jersey and Wisconsin. | |||||||||||||||||||||||||||||||||
The following table summarizes the amounts of the assets acquired and liabilities assumed recognized at the acquisition dates and the consideration paid for the 2013 acquisitions (in thousands): | |||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
At Acquisition Date | Morgan RV Properties | Jellystone | Big Timber Lake | Camelot Villa | Jellystone at Birchwood | Vines | Total | ||||||||||||||||||||||||||
Investment in property | $ | 109,122 | $ | 9,754 | $ | 21,898 | $ | 22,121 | $ | 6,087 | $ | 8,000 | $ | 176,982 | |||||||||||||||||||
Inventory of manufactured homes | — | — | — | 2,324 | — | — | 2,324 | ||||||||||||||||||||||||||
Notes and other receivables | — | — | — | 852 | — | — | 852 | ||||||||||||||||||||||||||
In-place leases and other intangible assets | 2,940 | 390 | 580 | 610 | 450 | — | 4,970 | ||||||||||||||||||||||||||
Other assets | 157 | 7 | 48 | 84 | 12 | 1 | 309 | ||||||||||||||||||||||||||
Below market leases | — | — | (3,490 | ) | (240 | ) | — | — | (3,730 | ) | |||||||||||||||||||||||
Other liabilities | (3,697 | ) | (930 | ) | (1,157 | ) | (546 | ) | (293 | ) | (4 | ) | (6,627 | ) | |||||||||||||||||||
Total identifiable assets and liabilities assumed | $ | 108,522 | $ | 9,221 | $ | 17,879 | $ | 25,205 | $ | 6,256 | $ | 7,997 | $ | 175,080 | |||||||||||||||||||
Consideration | |||||||||||||||||||||||||||||||||
Cash | $ | 55,618 | $ | 9,221 | $ | 17,879 | $ | 25,205 | $ | 6,256 | $ | 7,997 | $ | 122,176 | |||||||||||||||||||
Series A-3 preferred OP units (1) | 3,463 | — | — | — | — | — | 3,463 | ||||||||||||||||||||||||||
Extinguishment of note receivable | 49,441 | — | — | — | — | — | 49,441 | ||||||||||||||||||||||||||
Fair value of total consideration transferred | $ | 108,522 | $ | 9,221 | $ | 17,879 | $ | 25,205 | $ | 6,256 | $ | 7,997 | $ | 175,080 | |||||||||||||||||||
(1) Included in the total consideration paid for Morgan RV Properties was the issuance of 40,268 Series A-3 preferred OP units. In order to estimate the fair value of these units at the valuation date, we utilized the income approach using estimated future discounted cash flows. | |||||||||||||||||||||||||||||||||
2. Real Estate Acquisitions and Dispositions, continued | |||||||||||||||||||||||||||||||||
The following unaudited pro forma financial information presents the results of our operations for the years ended December 31, 2013 and 2012 as if acquisitions completed in 2013 were acquired on January 1, 2012. The unaudited pro forma results reflect certain adjustments for items that are not expected to have a continuing impact, such as adjustments for transaction costs incurred, management fees and purchase accounting. The information presented below has been prepared for comparative purposes only and does not purport to be indicative of either future results of operations or the results of operations that would have actually occurred had the acquisitions been consummated on January 1, 2012 (in thousands, except per-share data). | |||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Total revenues | $ | 423,490 | $ | 392,862 | |||||||||||||||||||||||||||||
Net income attributable to Sun Communities, Inc. shareholders | $ | 16,352 | $ | 23,833 | |||||||||||||||||||||||||||||
Net income per share attributable to Sun Communities, Inc. shareholders - basic | $ | 0.47 | $ | 0.87 | |||||||||||||||||||||||||||||
Net income per share attributable to Sun Communities, Inc. shareholders - diluted | $ | 0.47 | $ | 0.87 | |||||||||||||||||||||||||||||
The amount of revenue and net income included in the consolidated statements of operations for the years ended December 31, 2014, 2013 and 2012 for all acquisitions described above is set forth in the following table (in thousands): | |||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Revenue | $ | 42,258 | $ | 60,148 | $ | 38,557 | |||||||||||||||||||||||||||
Net income | $ | 9,214 | $ | 5,914 | $ | 290 | |||||||||||||||||||||||||||
Transaction Costs | |||||||||||||||||||||||||||||||||
Transaction costs of approximately $18.3 million, $3.9 million and $4.3 million have been incurred for the years ended December 31, 2014, 2013 and 2012, respectively, and are presented as “Transaction costs” in our consolidated statements of operations. | |||||||||||||||||||||||||||||||||
Dispositions | |||||||||||||||||||||||||||||||||
During the year ended December 31, 2014, we completed the sales of 10 MH communities: Bedford Hills, White Oak, Falcon Pointe, Timberbrook, Woodlake Estates, Byrne Hill, Continental Estates, Davison East, Countryside Village and Desert View Village. During the first quarter of 2014, the Company chose to early adopt Accounting Standards Update ("ASU") 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ("ASU 2014-08"). Pursuant to ASU 2014-08, the disposals of the communities do not qualify for presentation as discontinued operations, as the sales do not have a major impact on our operations and financial results and do not represent a strategic shift. Additionally, the communities are not considered individually significant components and therefore do not qualify for presentation as discontinued operations. A gain of $17.7 million is recorded in "Gain on disposition of properties, net" in our consolidated statement of operations. |
Investment_Property
Investment Property | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Real Estate Investment Property, Net [Abstract] | |||||||||
Investment Property | Investment Property | ||||||||
The following table sets forth certain information regarding investment property (in thousands): | |||||||||
December 31, 2014 | December 31, 2013 | ||||||||
Land | $ | 309,386 | $ | 194,404 | |||||
Land improvements and buildings | 2,471,436 | 1,806,546 | |||||||
Rental homes and improvements | 477,554 | 393,562 | |||||||
Furniture, fixtures, and equipment | 81,586 | 65,086 | |||||||
Land held for future development | 23,955 | 29,521 | |||||||
Investment property | 3,363,917 | 2,489,119 | |||||||
Accumulated depreciation | (795,753 | ) | (734,067 | ) | |||||
Investment property, net | $ | 2,568,164 | $ | 1,755,052 | |||||
Land improvements and buildings consist primarily of infrastructure, roads, landscaping, clubhouses, maintenance buildings and amenities. | |||||||||
During 2014, we recorded an impairment charge of $0.8 million associated with a long-lived asset for an MH and RV community located in La Feria, Texas. This community consists of 280 developed sites. Circumstances that prompted this test of recoverability included a decrease in net operating income and the overall operating performance of the community. We recognized the impairment loss because the long-lived asset's carrying value was deemed not recoverable and exceeded the estimated fair value. We estimated the fair value of the long-lived asset based on discounted future cash flows and any potential disposition proceeds for the asset. The impairment loss is recorded in "Asset impairment charge" on our consolidated statements of operations. | |||||||||
See Note 2, "Real Estate Acquisitions and Dispositions", for details on acquisitions. |
Transfers_Of_Financial_Assets
Transfers Of Financial Assets | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Transfers and Servicing [Abstract] | ||||||||
Transfers of Financial Assets | Transfers of Financial Assets | |||||||
We completed various transactions with an unrelated entity involving our notes receivable during 2014 and 2013 under which we received a total of $35.0 million and $34.0 million, respectively, of cash proceeds in exchange for relinquishing our right, title and interest in certain notes receivable. We have no further obligations or rights with respect to the control, management, administration, servicing, or collection of the installment notes. However, we are subject to certain recourse provisions requiring us to purchase the underlying homes collateralizing such notes, in the event of a note default and subsequent repossession of the home by the unrelated entity. The recourse provisions are considered to be a form of continuing involvement, and therefore these transferred loans did not meet the requirements for sale accounting. We continue to recognize these transferred loans on our balance sheet and refer to them as collateralized receivables as a transfer of financial assets. The proceeds from the transfer have been recognized as a secured borrowing. | ||||||||
In the event of note default, and subsequent repossession of a manufactured home by the unrelated entity, the terms of the agreement require us to repurchase the manufactured home. Default is defined as the failure to repay the installment note according to contractual terms. The repurchase price is calculated as a percentage of the outstanding principal balance of the collateralized receivable, plus any outstanding late fees, accrued interest, legal fees, and escrow advances associated with the installment note. The percentage used to determine the repurchase price of the outstanding principal balance on the installment note is based on the number of payments made on the note. In general, the repurchase price is determined as follows: | ||||||||
Number of Payments | Repurchase % | |||||||
Less than or equal to 15 | 100 | % | ||||||
Greater than 15 but less than 64 | 90 | % | ||||||
Equal to or greater than 64 but less than 120 | 65 | % | ||||||
120 or more | 50 | % | ||||||
The transferred assets have been classified as collateralized receivables in Notes and Other Receivables (see Note 5) and the cash proceeds received from these transactions have been classified as a secured borrowing in Debt (see Note 9) within the consolidated balance sheets. The balance of the collateralized receivables was $123.0 million (net of allowance of $0.7 million) and $109.8 million (net of allowance of $0.7 million) as of December 31, 2014 and December 31, 2013, respectively. The outstanding balance on the secured borrowing was $123.7 million and $110.5 million as of December 31, 2014 and December 31, 2013, respectively. | ||||||||
The balances of the collateralized receivables and secured borrowings fluctuate. The balances increase as additional notes receivable are transferred and exchanged for cash proceeds. The balances are reduced as the related collateralized receivables are collected from the customers, or as the underlying collateral is repurchased. The change in the aggregate gross principal balance of the collateralized receivables is as follows (in thousands): | ||||||||
Year Ended | ||||||||
December 31, 2014 | December 31, 2013 | |||||||
Beginning balance | $ | 110,510 | $ | 94,409 | ||||
Financed sales of manufactured homes | 34,952 | 34,007 | ||||||
Principal payments and payoffs from our customers | (11,845 | ) | (7,930 | ) | ||||
Principal reduction from repurchased homes | (9,967 | ) | (9,976 | ) | ||||
Total activity | 13,140 | 16,101 | ||||||
Ending balance | $ | 123,650 | $ | 110,510 | ||||
The collateralized receivables earn interest income and the secured borrowings accrue interest expense at the same interest rates. The amount of interest income and expense recognized was $11.8 million, $10.6 million and $9.4 million for the years ended December 31, 2014, 2013 and 2012, respectively. |
Notes_And_Other_Receivables
Notes And Other Receivables | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Long-term Notes and Loans, by Type, Current and Noncurrent [Abstract] | |||||||||
Notes And Other Receivables | Notes and Other Receivables | ||||||||
The following table sets forth certain information regarding notes and other receivables (in thousands): | |||||||||
31-Dec-14 | 31-Dec-13 | ||||||||
Installment notes receivable on manufactured homes, net | $ | 25,884 | $ | 25,471 | |||||
Collateralized receivables, net (see Note 4) | 122,962 | 109,821 | |||||||
Other receivables, net | 26,011 | 29,393 | |||||||
Total notes and other receivables, net | $ | 174,857 | $ | 164,685 | |||||
Installment Notes Receivable on Manufactured Homes | |||||||||
The installment notes of $25.9 million (net of allowance of $0.1 million) and $25.5 million (net of allowance of $0.1 million) as of December 31, 2014 and December 31, 2013, respectively, are collateralized by manufactured homes. The notes represent financing provided by us to purchasers of manufactured homes primarily located in our communities and require monthly principal and interest payments. The notes have a net weighted average interest rate and maturity of 8.7% and 10.4 years as of December 31, 2014, and 8.9% and 11.9 years as of December 31, 2013. | |||||||||
The change in the aggregate gross principal balance of the installment notes is as follows (in thousands): | |||||||||
Year Ended | |||||||||
31-Dec-14 | 31-Dec-13 | ||||||||
Beginning balance | $ | 25,575 | $ | 22,019 | |||||
Financed sales of manufactured homes | 946 | 7,798 | |||||||
Acquired notes (see Note 2) | 5,189 | 852 | |||||||
Principal payments and payoffs from our customers | (4,088 | ) | (3,838 | ) | |||||
Principal reduction from repossessed homes | (1,598 | ) | (1,256 | ) | |||||
Total activity | 449 | 3,556 | |||||||
Ending balance | $ | 26,024 | $ | 25,575 | |||||
Collateralized Receivables | |||||||||
Collateralized receivables represent notes receivable that were transferred to a third party, but did not meet the requirements for sale accounting (see Note 4). The receivables have a balance of $123.0 million (net of allowance of $0.7 million) and $109.8 million (net of allowance of $0.7 million) as of December 31, 2014 and December 31, 2013, respectively. The receivables have a net weighted average interest rate and maturity of 10.4% and 14.6 years as of December 31, 2014, and 10.7% and 13.6 years as of December 31, 2013. | |||||||||
Allowance for Losses for Collateralized and Installment Notes Receivable | |||||||||
The following table sets forth the allowance for losses for collateralized and installment notes receivable as of December 31, 2014 and December 31, 2013 (in thousands): | |||||||||
Year Ended | |||||||||
31-Dec-14 | 31-Dec-13 | ||||||||
Beginning balance | $ | (793 | ) | $ | (697 | ) | |||
Lower of cost or market write-downs | 280 | 421 | |||||||
Increase to reserve balance | (316 | ) | (517 | ) | |||||
Total activity | (36 | ) | (96 | ) | |||||
Ending balance | $ | (828 | ) | $ | (793 | ) | |||
5. Notes and Other Receivables, continued | |||||||||
Other Receivables | |||||||||
As of December 31, 2014, other receivables were comprised of amounts due from residents for rent and water and sewer usage of $4.9 million (net of allowance of $1.0 million), home sale proceeds of $7.4 million, insurance receivables of $1.0 million, insurance settlement of $3.7 million, rebates and other receivables of $6.8 million and a note receivable of $2.2 million. The $2.2 million note bears interest at 8.0% for the first two years and 7.9% for the remainder of the loan, is secured by the senior mortgage on one MH community and a deed of land, and is due on December 31, 2016. As of December 31, 2013 other receivables were comprised of amounts due from residents for rent and water and sewer usage of $6.9 million (net of allowance of $0.7 million), home sale proceeds of $5.7 million, insurance receivables of $2.0 million, insurance settlement of $3.7 million, rebates and other receivables of $4.6 million and two notes receivable of $4.3 million and $2.2 million. | |||||||||
In June 2014, a $4.3 million note receivable, which was secured by senior mortgages on two RV communities, a pledge of $4.0 million in Series A-3 Preferred OP Units, a subordinated interest in cash collateral account and equity interests in another RV community, was paid in full. |
Intangibles
Intangibles | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | Intangible Assets | ||||||||||||||||||||
Our intangible assets are in-place leases from acquisitions and franchise fees. These intangible assets are recorded within Other assets on the consolidated balance sheet. The accumulated amortization and gross carrying amounts are as follows (in thousands): | |||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||
Intangible Asset | Useful Life | Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | ||||||||||||||||
In-place leases | 7 years | $ | 41,511 | $ | (12,107 | ) | $ | 26,961 | $ | (8,239 | ) | ||||||||||
Franchise fees | 15 years | 764 | (106 | ) | 770 | (29 | ) | ||||||||||||||
Total | $ | 42,275 | $ | (12,213 | ) | $ | 27,731 | $ | (8,268 | ) | |||||||||||
During 2014, in connection with our acquisitions, we purchased intangible assets classified as in-place leases valued at approximately $14.6 million. | |||||||||||||||||||||
The aggregate net amortization expenses related to the intangible assets are as follows (in thousands): | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Intangible Asset | 2014 | 2013 | 2012 | ||||||||||||||||||
In-place leases | $ | 3,867 | $ | 3,297 | $ | 1,657 | |||||||||||||||
Franchise fees | 77 | 60 | — | ||||||||||||||||||
Total | $ | 3,944 | $ | 3,357 | $ | 1,657 | |||||||||||||||
We anticipate the amortization expense for the existing intangible assets to be as follows for the next five years (in thousands): | |||||||||||||||||||||
Year | |||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | |||||||||||||||||
Estimated expense | $ | 5,564 | $ | 5,564 | $ | 5,690 | $ | 4,902 | $ | 3,896 | |||||||||||
Investment_In_Affiliates
Investment In Affiliates | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Equity Method Investments and Joint Ventures [Abstract] | |||||||||
Investment In Affiliates | Investment in Affiliates | ||||||||
Origen Financial Services, LLC (“OFS LLC”) | |||||||||
At December 31, 2014 and 2013, we had a 22.9% ownership interest in OFS LLC, an entity formed to originate manufactured housing installment contracts. We have suspended equity accounting as the carrying value of our investment is zero. | |||||||||
Origen Financial, Inc. (“Origen”) | |||||||||
Through Sun OFI, LLC, a taxable REIT subsidiary, we own 5,000,000 shares of common stock of Origen which approximates an ownership interest of 19.0%. Although it is no longer originating or servicing loans, Origen continues to manage an existing portfolio of manufactured home loans and asset backed securities. We have suspended equity accounting for this investment as the carrying value of our investment is zero. We did, however, receive distributions of $1.2 million on our shares of Origen common stock during 2014. Our investment in Origen had a market value of approximately $8.2 million based on a quoted market closing price of $1.64 per share as reported on the OTC Pink Marketplace as of December 31, 2014. | |||||||||
In January 2015, Origen announced that it completed the sale of substantially all of its assets to an affiliate of GoldenTree Asset Management LP. Origen also announced that it has entered into a letter of intent with Mack Real Estate Credit Strategies, ("MRECS"), an affiliate of Mack Real Estate Group, for a proposed transaction pursuant to which MRECS and other third parties would invest additional capital into Origen by purchasing shares of newly issued common stock. Origen would continue to operate its business as a mortgage REIT and would be externally managed pursuant to a market based management agreement with MRECS. Under the letter of intent, it is anticipated that Origen's stockholders would be given the option to: (a) tender their shares to Origen for cash in an amount equal to Origen's estimated current net cash value, payable at the conclusion of the tender period, or (b) retain their shares in Origen. Origen’s Board of Directors approved the letter of intent and, as permitted by the plan of dissolution approved by Origen’s stockholders in October 2014, Origen has abandoned the plan of dissolution and the distribution of its remaining cash net of expenses and reserves pending completion of the transaction with MRECS. The MRECS transaction is subject to the further negotiation and execution of definitive transaction documents, MRECS’s satisfactory completion of its due diligence on Origen, and other customary closing conditions. | |||||||||
The following table sets forth certain summarized financial information for Origen, which was determined to be a significant subsidiary in2013 and 2012 (in thousands): | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Revenues | $ | 49,775 | $ | 64,838 | |||||
Expenses | (51,912 | ) | (66,215 | ) | |||||
Net loss | $ | (2,137 | ) | $ | (1,377 | ) | |||
31-Dec-13 | |||||||||
ASSETS | |||||||||
Loans receivable | $ | 463,254 | |||||||
Other assets | 15,529 | ||||||||
Total assets | $ | 478,783 | |||||||
LIABILITIES | |||||||||
Warehouse and securitization financing | $ | 423,369 | |||||||
Other liabilities | 38,109 | ||||||||
Total liabilities | $ | 461,478 | |||||||
Consolidated_Variable_Interest
Consolidated Variable Interest Entities | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
DisclosureofVariableInterestEntities [Abstract] | ||||||||
DisclosureOfVariableInterestEntities [Text Block] | . Consolidated Variable Interest Entities | |||||||
Variable interest entities ("VIEs") that are consolidated include Rudgate Village SPE, LLC, Rudgate Clinton SPE, LLC, Rudgate Clinton Estates SPE, LLC (the “Rudgate Borrowers”) and Wildwood Village Mobile Home Park, LLC ("Wildwood"). We evaluated our arrangements with these properties under the guidance set forth in FASB ASC Topic 810, Consolidation. We concluded that the Rudgate Borrowers and Wildwood qualify as VIEs as we are the primary beneficiary and hold controlling financial interests in these entities due to our power to direct the activities that most significantly impact the economic performance of the entities, as well as our obligation to absorb the most significant losses and our rights to receive significant benefits from these entities. As such, the transactions and accounts of these VIEs are included in the accompanying consolidated financial statements. | ||||||||
In December 2014, we assumed a mezzanine loan in the amount of $17.7 million, in connection with the Green Courte acquisition, and also assumed a property management agreement to manage and operate the Wildwood community. | ||||||||
In November 2012, we guaranteed certain non-recourse carveouts under a $45.9 million mortgage loan (the “Senior Loan”) from Ladder Capital Finance LLC to the Rudgate Borrowers. The Senior Loan is secured by the two MH communities that we manage but do not own, which are located in southeast Michigan. In addition, we entered into a mezzanine loan agreement with the sole members of the Rudgate Borrowers under which we agreed to provide mezzanine financing in the amount of $15.1 million in respect of the two MH communities managed by us, and entered into property management agreements to manage and operate these two communities. | ||||||||
Included in our consolidated financial statements after appropriate eliminations were amounts related to the VIEs at December 31, 2014 and December 31, 2013 as follows (in thousands): | ||||||||
December 31, 2014 | December 31, 2013 | |||||||
ASSETS | ||||||||
Investment property, net | $ | 94,230 | $ | 56,805 | ||||
Other assets | 4,400 | 3,926 | ||||||
Total Assets | $ | 98,630 | $ | 60,731 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Debt | $ | 65,849 | $ | 45,209 | ||||
Other liabilities | 10,442 | 6,564 | ||||||
Noncontrolling interests | (416 | ) | (537 | ) | ||||
Total Liabilities and Stockholders' Equity | $ | 75,875 | $ | 51,236 | ||||
Investment property, net and other assets related to the consolidated VIEs comprised approximately 3.4% and 3.0% of our consolidated total assets and debt and other liabilities comprised approximately 3.8% and 3.2% of our consolidated total liabilities at December 31, 2014 and December 31, 2013, respectively. Noncontrolling interest related to the consolidated VIEs comprised less than 1.0% of our consolidated total equity at December 31, 2014 and December 31, 2013. |
Debt_And_Lines_Of_Credit
Debt And Lines Of Credit | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||
Debt Disclosure [Text Block] | Debt and Lines of Credit | |||||||||||||||||||||||||||
The following table sets forth certain information regarding debt (in thousands): | ||||||||||||||||||||||||||||
Principal | Weighted Average | Weighted Average | ||||||||||||||||||||||||||
Outstanding | Years to Maturity | Interest Rates | ||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | December 31, 2014 | December 31, 2013 | December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Collateralized term loans - FMNA | $ | 492,800 | $ | 440,790 | 7.1 | 7.7 | 4 | % | 3.8 | % | ||||||||||||||||||
Collateralized term loans - FMCC | 152,462 | — | 9.9 | — | 4 | % | — | % | ||||||||||||||||||||
Collateralized term loans - Life Companies | 204,638 | 2,489 | 10.9 | 3.3 | 4.3 | % | 8 | % | ||||||||||||||||||||
Collateralized term loans - CMBS | 806,840 | 710,626 | 5.4 | 5.9 | 5.3 | % | 5.3 | % | ||||||||||||||||||||
Preferred OP Units | 45,903 | 47,022 | 6.8 | 7.6 | 6.9 | % | 6.9 | % | ||||||||||||||||||||
Secured Borrowing | 123,650 | 110,510 | 14.6 | 13.5 | 10.4 | % | 10.6 | % | ||||||||||||||||||||
Total debt | $ | 1,826,293 | $ | 1,311,437 | 7.5 | 7.2 | 5.1 | % | 5.3 | % | ||||||||||||||||||
Collateralized Term Loans | ||||||||||||||||||||||||||||
In December 2014, we borrowed the aggregate amount of $74.0 million under two mortgage loans from The Northwestern Mutual Life Insurance Company (“NM”). The loans have a 15 year term and a blended rate of 3.65%. | ||||||||||||||||||||||||||||
During the fourth quarter of 2014, in relation to the acquisition of the Green Courte properties (see Note 2), we refinanced approximately $100.7 million of mortgage debt with Freddie Mac ("FMCC") on 12 of the communities (resulting in proceeds of $152.5 million) at an interest rate of 4.03% per annum and a term of 10 years, and we assumed approximately $182.4 million of mortgage debt on 12 of the communities at a weighted average interest rate of 5.89% and a weighted average remaining term of 4.35 years. | ||||||||||||||||||||||||||||
In September 2014, we paid off the $2.4 million mortgage agreement secured by Brookside Village upon maturity and $13.5 million mortgage agreement secured by Cave Creek and Pine Trace. | ||||||||||||||||||||||||||||
In August 2014, we paid off $52.6 million of Fannie Mae ("FNMA") debt, and we paid in full a $6.5 million mortgage agreement secured by Sheffield Estates upon maturity. | ||||||||||||||||||||||||||||
In July and August 2014, we borrowed the aggregate amount of $63.5 million under five mortgage loans from Ladder Capital Finance, LLC ("Ladder"). The loans have a 10 year term and a blended annual interest rate of 4.56%. The proceeds of the loans were used to pay down a portion of our senior secured line of credit. | ||||||||||||||||||||||||||||
In January 2014, we and four of our subsidiaries borrowed the aggregate amount of $99.0 million under four mortgage loans (each, an “Individual Loan” and, together, the “Loan”) from NM pursuant to a Master Loan Agreement with NM. Each Individual Loan accrues interest at a rate of 4.20% and matures on February 13, 2026. We and each of the four borrowers have guaranteed the Loan. The proceeds of the Loan were used to repay a portion of our senior secured line of credit. | ||||||||||||||||||||||||||||
In December 2013, we and nine of our subsidiaries entered into a loan agreement with a lender for a $72.4 million term loan ("Pool A Loan"), and we and nine of our other subsidiaries entered into a loan agreement with the same lender for a $69.1 million term loan ("Pool B Loan", and collectively with the Pool A Loan, the "Loans"). The Loans mature on January 1, 2024. The Pool A Loan accrues interest at 4.89% per year and is secured by eight MH communities and two RV communities. The Pool B Loan accrues interest at 4.90% per year and is secured by eight MH communities and one RV community. We used the proceeds of the Loans and $34.4 million of additional cash to repay in full 11 loans previously made to subsidiaries of the Company. | ||||||||||||||||||||||||||||
In October 2013, we paid off maturing loans totaling $5.8 million, which were secured by two properties, Dutton Mills and Falcon Pointe. | ||||||||||||||||||||||||||||
In May 2013, we extended until May 1, 2023, $151.4 million of FNMA debt, which had an original maturity date of May 1, 2013. The current weighted average interest rate on this debt is 3.6%. | ||||||||||||||||||||||||||||
9. Debt and Lines of Credit, continued | ||||||||||||||||||||||||||||
In May 2013, we paid off the entire $3.5 million mortgage agreement secured by Holiday West Village upon maturity. | ||||||||||||||||||||||||||||
In April 2013, we paid off the sellers note associated with the acquisition of Rainbow RV Resort. The note had a principal balance of $0.6 million. | ||||||||||||||||||||||||||||
In January 2013, we paid off the sellers note associated with the acquisition of Palm Creek. The note had a principal balance of $36.0 million and an interest rate of 2.0%. We also paid off the remaining $30.0 million outstanding under our $36.0 million variable financing loan from Bank of America, N.A. and The Private Bank. | ||||||||||||||||||||||||||||
The collateralized term loans totaling $1.7 billion as of December 31, 2014, are secured by 147 properties comprised of 49,390 sites representing approximately $1.6 billion of net book value. | ||||||||||||||||||||||||||||
Preferred OP units | ||||||||||||||||||||||||||||
The Aspen preferred OP units are convertible into 509,676 common shares based on a conversion price of $68 per share with a redemption date of January 1, 2024. The current preferred rate is 6.5%. | ||||||||||||||||||||||||||||
Secured Borrowing | ||||||||||||||||||||||||||||
See Note 4, "Transfers of Financial Assets", for additional information regarding our collateralized receivables and secured borrowing transactions. | ||||||||||||||||||||||||||||
Lines of Credit | ||||||||||||||||||||||||||||
We have a senior secured revolving credit facility with Citibank, N.A. and certain other lenders in the amount of $350.0 million (the "Facility"). The Facility has a four year term ending May 15, 2017, which can be extended for one additional year at our option, subject to the satisfaction of certain conditions as defined in the credit agreement. The credit agreement also provides for, subject to the satisfaction of certain conditions, additional commitments in an amount not to exceed $250.0 million. The Facility bears interest at a floating rate based on the Eurodollar rate plus a margin that is determined based on our leverage ratio calculated in accordance with the credit agreement, which can range from 1.65% to 2.90%. Based on our calculation of the leverage ratio as of December 31, 2014, the margin was 1.65%. At December 31, 2014 we had no amount outstanding under the Facility and at December 31, 2013, we had approximately $178.1 million outstanding under the Facility. At December 31, 2014 and 2013, approximately $3.2 million and$2.7 million, respectively, of availability was used to back standby letters of credit. | ||||||||||||||||||||||||||||
The Facility is secured by a first priority lien on all of our equity interests in each entity that owns all or a portion of the properties constituting the borrowing base and collateral assignments of our senior and junior debt positions in certain borrowing base properties. | ||||||||||||||||||||||||||||
In February 2013, we entered into a $61.5 million credit agreement to fund a portion of the purchase of the Morgan RV Properties acquisition (see Note 2 "Real Estate Acquisitions and Dispositions"). This loan was paid off in March 2013. | ||||||||||||||||||||||||||||
We also have a $20.0 million secured line of credit agreement collateralized by a portion of our rental home portfolio. The net book value of the rental homes pledged as security for the loan must meet or exceed 200% of the outstanding loan balance. The | ||||||||||||||||||||||||||||
terms of the agreement require interest only payments for the first five years, with the remainder of the term being amortized based on a 10 year term. The interest rate is the prime rate as published in the Wall Street Journal adjusted the first day of each calendar month plus 200 basis points with a minimum rate of 5.5%. At both December 31, 2014 and 2013, the effective interest rate was 5.5%, and there was no amount outstanding. | ||||||||||||||||||||||||||||
We have a $12.0 million manufactured home floor plan facility renewable indefinitely until our lender provides us at least twelve months’ notice of its intent to terminate the agreement. The interest rate is 100 basis points over the greater of the prime rate published in the Wall Street Journal on the first business day of each month or 6.0%. At December 31, 2014 the effective interest | ||||||||||||||||||||||||||||
9. Debt and Lines of Credit, continued | ||||||||||||||||||||||||||||
rate was 7.0%. The outstanding balance was $5.8 million and $3.3 million as of December 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||||||||||||
Long-term Debt Maturities | ||||||||||||||||||||||||||||
As of December 31, 2014, the total of maturities and amortization of our debt (excluding premiums and discounts) and lines of credit during the next five years are as follows (in thousands): | ||||||||||||||||||||||||||||
Maturities and Amortization By Year | ||||||||||||||||||||||||||||
Total Due | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | ||||||||||||||||||||||
Lines of credit | $ | 5,794 | $ | 5,794 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Mortgage loans payable: | ||||||||||||||||||||||||||||
Maturities | 1,410,652 | 24,810 | 267,863 | 92,289 | 38,315 | 16,508 | 970,867 | |||||||||||||||||||||
Principal amortization | 227,887 | 24,093 | 23,804 | 23,325 | 23,263 | 23,670 | 109,732 | |||||||||||||||||||||
Preferred OP units | 45,903 | 3,670 | 7,570 | — | — | — | 34,663 | |||||||||||||||||||||
Secured borrowing | 123,650 | 5,167 | 5,715 | 6,258 | 6,802 | 7,362 | 92,346 | |||||||||||||||||||||
Total | $ | 1,813,886 | $ | 63,534 | $ | 304,952 | $ | 121,872 | $ | 68,380 | $ | 47,540 | $ | 1,207,608 | ||||||||||||||
Covenants | ||||||||||||||||||||||||||||
The most restrictive of our debt agreements place limitations on secured borrowings and contain minimum fixed charge coverage, leverage, distribution and net worth requirements. As of December 31, 2014, we were in compliance with all covenants. |
Equity_Transactions
Equity Transactions | 12 Months Ended |
Dec. 31, 2014 | |
Stockholders' Equity Note [Abstract] | |
Equity Transactions | Equity Transactions |
During the fourth quarter of 2014, in connection with the Green Courte acquisition, we issued 361,797 shares of common stock at an issuance price of $50.00 per share, 501,130 common OP units at an issuance price of $50.00 per unit, 483,317 shares of Series A-4 Preferred Stock at an issuance price of $25.00 per share and 669,449 Series A-4 preferred OP units at an issuance price of $25.00 per unit (see Note 2). Series A-4 Preferred Stock and Series A-4 preferred OP unit holders can convert the shares or units into shares of common stock based upon an initial conversion price of $56.25 per share (subject to adjustment upon various events) and receive a preferred return of 6.50% per year. | |
In September 2014, we closed an underwritten registered public offering of 6,900,000 shares of common stock at a price of $50.60 per share, which includes 900,000 shares sold to the underwriter pursuant to the full exercise of its option to purchase additional shares. Net proceeds from the offering were approximately $348.9 million after deducting expenses related to the offering. We used the majority of the net proceeds of the offering to fund the cash portion of the purchase price for the acquisition of MH communities from the Green Courte entities (see Note 2) and used the remainder of the net proceeds from the offering to repay borrowings outstanding under the Facility. | |
In March 2014, we closed an underwritten registered public offering of 4,200,000 shares of common stock at a price of $44.45 per share, and in April 2014, the underwriters exercised their option to purchase an additional 630,000 shares of common stock at a price of $44.45 less the declared dividend of $0.65 per share. Net proceeds from the offering were $214.0 million after deducting underwriting discounts and the expenses related to the offering. We used the net proceeds of the offering to repay borrowings outstanding under the Facility, for acquisitions of properties and for working capital and general corporate purposes. | |
10. Equity Transactions, continued | |
In March 2013, we closed an underwritten registered public offering of 5,750,000 shares of common stock at a price of $45.25 per share. The net proceeds from the offering were $249.5 million after deducting underwriting discounts and the expenses related to the offering. We used a portion of the proceeds to pay down debt. We used the remaining net proceeds of the offering to fund the acquisition of properties and for working capital and general corporate purposes. | |
In February 2013, we issued $4.0 million of Series A-3 preferred OP units in connection with the Morgan RV Properties acquisition (see Note 2). Series A-3 preferred OP unit holders can convert the Series A-3 preferred OP units into shares of common stock based upon a conversion price of $53.75 per share. The Series A-3 preferred OP unit holders receive a preferred return of 4.5% per year. | |
In May 2012, we entered into an "at-the-market" sales agreement with BMO Capital Markets Corp. and Liquidnet Inc. to issue and sell up to $100 million of shares from time to time. During 2014, 157,989 shares of common stock were sold through the agreement. The shares of common stock were sold at the prevailing market price of our common stock at the time of each sale with a weighted average sale price of $62.42, and we received net proceeds of approximately $9.7 million. Subsequent to year-end, we sold an additional 342,011 shares of common stock through the agreement at a weighted average sale price of $63.94. We received net proceeds of approximately $21.5 million. We are authorized to sell an additional $43.7 million of common stock remaining under the sales agreement. | |
In November 2004, our Board of Directors authorized us to repurchase up to 1,000,000 shares of our common stock. We have 400,000 common shares remaining in the repurchase program. No common shares were repurchased during 2014 or 2013. There is no expiration date specified for the repurchase program. | |
Common OP Unit holders can convert their Common OP units into an equivalent number of shares of common stock at any time. During 2014, holders of Common OP units converted 9,110 units into common stock. No units were converted into common stock during 2013. | |
Series A-1 preferred OP unit holders can convert their preferred OP units into 2.439 shares of our common stock (which exchange rate is subject to adjustment upon stock splits, recapitalizations and similar events) at any time. During 2014, holders of Series A-1 preferred OP units converted 26,379 units into 64,335 shares of common stock. No Series A-1 preferred OP units were converted into common stock during 2013. | |
Cash distributions of $0.65 per share were declared for the quarter ended December 31, 2014. On January 16, 2015, cash payments of approximately $33.2 million for aggregate distributions and distribution equivalents were made to common stockholders, common OP unitholders and restricted stockholders of record as of December 31, 2014. Cash distributions of $0.4453 per share were declared on the Company's Series A cumulative redeemable preferred stock for the quarter ended December 31, 2014. On January 15, 2015, cash payments of approximately $1.5 million for aggregate distributions were made to Series A cumulative redeemable preferred stockholders of record as of January 2, 2015. In addition, cash distributions of $0.1580 per share were declared on the Company's Series A-4 Preferred Stock for the quarter ended December 31, 2014. On December 31, 2014, cash payments of approximately $0.1 million were made to Series A-4 Preferred Stock holders of record as of December 19, 2014. During 2014, we made total cash payments of approximately $112.3 million to common stockholders, common OP unitholders and restricted stockholders, $6.0 million to Series A Preferred Stock holders and $0.1 million to Series A-4 Preferred Stock holders. |
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Share-based Compensation [Abstract] | |||||||||||||
Share-Based Compensation | Share-Based Compensation | ||||||||||||
As of December 31, 2014, we have two share-based compensation plans approved by stockholders: Sun Communities, Inc. Equity Incentive Plan (“2009 Equity Plan”) and the First Amended and Restated 2004 Non-Employee Director Option Plan (“Director Plan”). We believe granting equity awards will provide certain executives, key employees and directors additional incentives to promote our financial success, and promote employee and director retention by providing an opportunity to acquire or increase the direct proprietary interest of those individuals in our operations and future. | |||||||||||||
2009 Equity Plan | |||||||||||||
The 2009 Equity Plan was approved by our stockholders at the Annual Meeting of Stockholders held on July 29, 2009. The 2009 Equity Plan replaced the Sun Communities, Inc. Stock Option Plan adopted in 1993, as amended and restated in 1996 and 2000, and terminates automatically July 29, 2019. | |||||||||||||
The types of awards that may be granted under the 2009 Equity Plan include stock options, stock appreciation rights, restricted stock, and other stock based awards. The maximum number of shares of common stock that may be issued under the 2009 Equity Plan is 950,000 shares, with 240,820 shares remaining for future issuance. | |||||||||||||
During 2014, the Company and Gary A. Shiffman (the Company's Chairman and Chief Executive Officer) entered into an Amended and Restated Restricted Stock Award Agreement, which amended and restated in its entirety the Restricted Stock Award Agreement dated June 20, 2013 between the Company and Mr. Shiffman. Under the original stock award agreement, the Company granted Mr. Shiffman 250,000 restricted shares of the Company's common stock, of which 175,000 restricted shares were awarded in respect of the performance of Mr. Shiffman and the Company over the prior three years and 75,000 restricted shares were awarded to induce Mr. Shiffman to execute a new five-year employment agreement. All of these restricted shares were scheduled to vest over time through June 2020. The restated stock award agreement amended the vesting schedule of the restricted shares, of which 100,000 restricted shares are now subject to market and performance conditions and the remaining 150,000 shares will vest over time through June 2020. We accounted for the modification of this award is accordance with the FASB ASC Topic 718. See discussion below on the fair value measurement of these awards. | |||||||||||||
During 2014, we granted 45,250 shares of restricted stock to employees under our 2009 Equity Plan. The restricted shares had a an average fair value of $52.54 per share and will vest as follows: 35% in 2017; 35% in 2018; 20% in 2019, 5% in 2020; and 5% in 2021. The fair value was determined using the closing price of our common stock on the date the shares were issued. | |||||||||||||
During 2014, we also granted 58,000 shares of restricted stock to our executive officers under our 2009 Equity Plan. The restricted shares had a fair value of $48.93 per share and will vest as follows: 20% in 2018; 30% in 2019; 35% in 2020; 10% in 2021; and 5% in 2022. The fair value was determined by using the closing share price of our common stock on the date the shares were issued. | |||||||||||||
Director Plan | |||||||||||||
The Director Plan was approved by our stockholders at the Annual Meeting of Stockholders held on July 19, 2012. The Director Plan amended and restated in its entirety our 2004 Non-Employee Director Stock Option Plan. | |||||||||||||
The types of awards that may be granted under the Director Plan are options, restricted stock and OP units. Only non-employee directors are eligible to participate in the Director Plan. The maximum number of options, restricted stock and OP units that may be issued under the Director Plan is 175,000 shares, with 75,674 shares remaining for future issuance. | |||||||||||||
In February 2014, we granted 14,000 shares of restricted stock to our directors under our Director Plan. The awards vest on February 12, 2017, and had a fair value of $48.01 per share. The fair value was determined by using the closing share price of our common stock on the date the shares were issued. | |||||||||||||
During the year ended December 31, 2014, 6,833 shares of common stock were issued in connection with the exercise of stock options and the net proceeds received were $0.1 million. | |||||||||||||
We have recognized compensation costs associated with share based awards of $4.9 million, $3.2 million, and $1.5 million for the years ended December 31, 2014, 2013, and 2012 respectively. | |||||||||||||
11. Share-Based Compensation, continued | |||||||||||||
Restricted Stock | |||||||||||||
The majority of our share-based compensation is awarded as service vesting restricted stock grants to executives and key employees. We have also awarded restricted stock to our non-employee directors. We measure the fair value associated with these awards using the closing price of our common stock as of the grant date to calculate compensation cost. Employee awards typically vest over several years and are subject to continued employment by the employee. Award recipients receive distribution payments on unvested shares of restricted stock. | |||||||||||||
As of December 31, 2014, we have 50,000 shares of restricted stock issued to Mr. Shiffman subject to certain Company performance criteria, of which 12,500 shares vest on March 1 of each 2015, 2016, 2017 and 2018. Compensation expense is recognized in accordance with ASC Topic 718 and based on an estimate of shares expected to vest. If it is not probable that the performance conditions will be satisfied, we do not recognize compensation expense. The fair value of these awards was measured using the closing price of our common stock as of the grant modification date to calculate compensation cost. Each reporting period, we reevaluate our estimate of the number of shares expected to vest. The performance conditions were satisfied for the shares vesting on March 1, 2015 and compensation expense was recognized as of December 31, 2014. | |||||||||||||
We also have 50,000 shares of restricted stock issued to Mr. Shiffman subject to certain market performance criteria, of which 16,667 shares vest on March 1 of each 2016, 2017 and 2018. In accordance with ASC Topic 718, we estimated the fair value of the shares using a Monte Carlo simulation. We recognize compensation cost ratably over each tranche of shares based on the fair value estimated by the model. | |||||||||||||
The following table summarizes our restricted stock activity for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||
Number of Shares | Weighted Average Grant Date Fair Value | ||||||||||||
Unvested restricted shares at January 1, 2012 | 275,871 | $ | 28.93 | ||||||||||
Granted | 44,600 | $ | 40.93 | ||||||||||
Vested | (8,750 | ) | $ | 19.92 | |||||||||
Forfeited | (1,214 | ) | $ | 37.04 | |||||||||
Unvested restricted shares at December 31, 2012 | 310,507 | $ | 30.88 | ||||||||||
Granted | 371,300 | $ | 47.19 | ||||||||||
Vested | (37,291 | ) | $ | 16.87 | |||||||||
Forfeited | (12,560 | ) | $ | 38.47 | |||||||||
Unvested restricted shares at December 31, 2013 | 631,956 | $ | 41.14 | ||||||||||
Granted | 117,250 | $ | 49.97 | ||||||||||
Vested | (55,488 | ) | $ | 25.57 | |||||||||
Forfeited | (4,975 | ) | $ | 38.45 | |||||||||
Unvested restricted shares at December 31, 2014 | 688,743 | $ | 43.87 | ||||||||||
Total compensation cost recognized for restricted stock was $4.9 million, $3.2 million, and $1.4 million for the years ended December 31, 2014, 2013, and 2012, respectively. The total fair value of shares vested was $1.4 million, $0.6 million, and $0.2 million for the years ended December 31, 2014, 2013 and 2012, respectively. The remaining net compensation cost related to our | |||||||||||||
unvested restricted shares outstanding as of December 31, 2014 is approximately $21.1 million. That expense is expected to be recognized $5.3 million in 2015, $4.7 million in 2016, $4.6 million in 2017 and $6.5 million thereafter. | |||||||||||||
Options | |||||||||||||
We have granted stock options to certain employees and non-employee directors. Option awards are generally granted with an exercise price equal to the market price of our common stock as of the grant date. Stock options generally vest over a three year | |||||||||||||
11. Share-Based Compensation, continued | |||||||||||||
period from the date of grant and have a maximum term of 10 years. No grants of options were made in 2014, 2013 or 2012. We issue new shares of common stock at the time of share option exercise (or share unit conversion). | |||||||||||||
The weighted average fair value of the options issued is estimated on the date of the grant using the Binomial (lattice) option pricing model. The options outstanding as of December 31, 2014 consist of 32,500 non-employee director options. There are no employee options outstanding. The compensation expense associated with non-vested stock option awards was not significant for the years ended December 31, 2014, 2013, and 2012. | |||||||||||||
The following table summarizes our option activity during the years ended December 31, 2014, 2013 and 2012: | |||||||||||||
Number of | Weighted | ||||||||||||
Options | Average | ||||||||||||
Exercise Price | |||||||||||||
(per common share) | |||||||||||||
Options outstanding at January 1, 2012 | 77,086 | $ | 29.64 | ||||||||||
Granted | — | $ | — | ||||||||||
Exercised | (16,256 | ) | $ | 30.12 | |||||||||
Forfeited or expired | (4,880 | ) | $ | 33.16 | |||||||||
Options outstanding at December 31, 2012 | 55,950 | $ | 29.19 | ||||||||||
Granted | — | $ | — | ||||||||||
Exercised | (9,700 | ) | $ | 21.67 | |||||||||
Forfeited or expired | — | $ | — | ||||||||||
Options outstanding at December 31, 2013 | 46,250 | $ | 30.77 | ||||||||||
Granted | — | $ | — | ||||||||||
Exercised | (12,250 | ) | $ | 33.4 | |||||||||
Forfeited or expired | (1,500 | ) | $ | 35.44 | |||||||||
Options outstanding at December 31, 2014 | 32,500 | $ | 29.56 | ||||||||||
The following table summarizes our options outstanding and options currently exercisable at December 31, 2014: | |||||||||||||
31-Dec-14 | |||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||
Options | Average | Average | Intrinsic | ||||||||||
Exercise Price | Contractual | Value | |||||||||||
(per common share) | Term | (in thousands) | |||||||||||
(in years) | |||||||||||||
Options vested and expected to vest | 32,500 | $ | 29.56 | 4.2 | $ | 1,004 | |||||||
Options vested and exercisable | 32,500 | $ | 29.56 | 4.2 | $ | 1,004 | |||||||
Aggregate intrinsic value represents the value of our closing share price as of the end of the year in excess of the exercise price multiplied by the number of options outstanding or exercisable. The aggregate intrinsic value excludes the effect of stock options that have a zero or negative intrinsic value. For the years ended December 31, 2014, 2013 and 2012, the intrinsic value of exercised options was $0.3 million, $0.2 million and $0.2 million, respectively. For the years ended December 31, 2014, 2013 and 2012, the intrinsic value of vested and exercisable options was $1.0 million, $0.5 million and $0.5 million, respectively. |
Segment_Reporting
Segment Reporting | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||
Segment Reporting | Segment Reporting | |||||||||||||||||||||||
We group our operating segments into reportable segments that provide similar products and services. Each operating segment has discrete financial information evaluated regularly by the Company's chief operating decision maker in evaluating and assessing performance. We have two reportable segments: (i) Real Property Operations and (ii) Home Sales and Rentals. The Real Property Operations segment owns, operates, and develops MH communities and RV communities and is in the business of acquiring, operating, and expanding MH and RV communities. The Home Sales and Rentals segment offers manufactured home sales and leasing services to tenants and prospective tenants of our communities. | ||||||||||||||||||||||||
Transactions between our segments are eliminated in consolidation. Transient RV revenue is included in Real Property Operations’ revenues and is approximately $31.6 million for the year ended December 31, 2014. This transient revenue was recognized 25.3% in the first quarter, 18.3% in the second quarter, 43.3% in the third quarter and 13.1% in the fourth quarter of 2014. | ||||||||||||||||||||||||
A presentation of segment financial information is summarized as follows (in thousands): | ||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||
Real Property Operations | Home Sales and Home Rentals | Consolidated | ||||||||||||||||||||||
Revenues | $ | 357,793 | $ | 93,167 | $ | 450,960 | ||||||||||||||||||
Operating expenses/Cost of home sales | 125,315 | 63,826 | 189,141 | |||||||||||||||||||||
Net operating income/Gross profit | 232,478 | 29,341 | 261,819 | |||||||||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||||||||||||
Ancillary, interest and other income, net | 20,715 | — | 20,715 | |||||||||||||||||||||
General and administrative | (31,769 | ) | (10,853 | ) | (42,622 | ) | ||||||||||||||||||
Acquisition related costs | (18,251 | ) | (8 | ) | (18,259 | ) | ||||||||||||||||||
Depreciation and amortization | (88,695 | ) | (45,031 | ) | (133,726 | ) | ||||||||||||||||||
Asset impairment charge | (837 | ) | — | (837 | ) | |||||||||||||||||||
Interest | (73,752 | ) | (19 | ) | (73,771 | ) | ||||||||||||||||||
Interest on mandatorily redeemable debt | (3,210 | ) | — | (3,210 | ) | |||||||||||||||||||
Gain on disposition of properties | 17,447 | 207 | 17,654 | |||||||||||||||||||||
Gain on settlement | 4,452 | — | 4,452 | |||||||||||||||||||||
Distributions from affiliate | 1,200 | — | 1,200 | |||||||||||||||||||||
Provision for state income taxes | (219 | ) | — | (219 | ) | |||||||||||||||||||
Net income (loss) | 59,559 | (26,363 | ) | 33,196 | ||||||||||||||||||||
Less: Preferred return to Series A-1 preferred OP units | 2,654 | — | 2,654 | |||||||||||||||||||||
Less: Preferred return to Series A-3 preferred OP units | 181 | — | 181 | |||||||||||||||||||||
Less: Preferred return to Series A-4 preferred OP units | 100 | — | 100 | |||||||||||||||||||||
Less: Amounts attributable to noncontrolling interests | 3,698 | (1,946 | ) | 1,752 | ||||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. | 52,926 | (24,417 | ) | 28,509 | ||||||||||||||||||||
Less: Preferred stock distributions | 6,133 | — | 6,133 | |||||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. common stockholders | $ | 46,793 | $ | (24,417 | ) | $ | 22,376 | |||||||||||||||||
12. Segment Reporting, continued | ||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||
Real Property Operations | Home Sales and Home Rentals | Consolidated | ||||||||||||||||||||||
Revenues | $ | 313,097 | $ | 87,352 | $ | 400,449 | ||||||||||||||||||
Operating expenses/Cost of home sales | 109,921 | 60,732 | 170,653 | |||||||||||||||||||||
Net operating income/Gross profit | 203,176 | 26,620 | 229,796 | |||||||||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||||||||||||
Ancillary, interest and other income, net | 14,773 | — | 14,773 | |||||||||||||||||||||
General and administrative | (25,941 | ) | (9,913 | ) | (35,854 | ) | ||||||||||||||||||
Acquisition related costs | (3,928 | ) | — | (3,928 | ) | |||||||||||||||||||
Depreciation and amortization | (73,729 | ) | (36,349 | ) | (110,078 | ) | ||||||||||||||||||
Interest expense | (73,001 | ) | (338 | ) | (73,339 | ) | ||||||||||||||||||
Interest on mandatorily redeemable debt | (3,238 | ) | — | (3,238 | ) | |||||||||||||||||||
Distributions from affiliate | 2,250 | — | 2,250 | |||||||||||||||||||||
Provision for state income taxes | (234 | ) | — | (234 | ) | |||||||||||||||||||
Net income (loss) | 40,128 | (19,980 | ) | 20,148 | ||||||||||||||||||||
Less: Preferred return to Series A-1 preferred OP units | 2,598 | — | 2,598 | |||||||||||||||||||||
Less: Preferred return to Series A-3 preferred OP units | 166 | — | 166 | |||||||||||||||||||||
Less: Amounts attributable to noncontrolling interests | 2,450 | (1,732 | ) | 718 | ||||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. | 34,914 | (18,248 | ) | 16,666 | ||||||||||||||||||||
Less: Preferred stock distributions | 6,056 | — | 6,056 | |||||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. common stockholders | $ | 28,858 | $ | (18,248 | ) | $ | 10,610 | |||||||||||||||||
12. Segment Reporting, continued | ||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||
Real Property Operations | Home Sales and Home Rentals | Consolidated | ||||||||||||||||||||||
Revenues | $ | 255,761 | $ | 71,736 | $ | 327,497 | ||||||||||||||||||
Operating expenses/Cost of home sales | 88,046 | 53,059 | 141,105 | |||||||||||||||||||||
Net operating income/Gross profit | 167,715 | 18,677 | 186,392 | |||||||||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||||||||||||
Ancillary, interest and other income, net | 11,455 | — | 11,455 | |||||||||||||||||||||
General and administrative | (20,037 | ) | (8,316 | ) | (28,353 | ) | ||||||||||||||||||
Acquisition related costs | (4,296 | ) | — | (4,296 | ) | |||||||||||||||||||
Depreciation and amortization | (61,039 | ) | (28,635 | ) | (89,674 | ) | ||||||||||||||||||
Interest | (67,756 | ) | (103 | ) | (67,859 | ) | ||||||||||||||||||
Interest on mandatorily redeemable debt | (3,321 | ) | — | (3,321 | ) | |||||||||||||||||||
Distributions from affiliate | 3,900 | — | 3,900 | |||||||||||||||||||||
Provision for state income taxes | (249 | ) | — | (249 | ) | |||||||||||||||||||
Net income (loss) | 26,372 | (18,377 | ) | 7,995 | ||||||||||||||||||||
Less: Preferred return to Series A-1 preferred OP units | 2,329 | — | 2,329 | |||||||||||||||||||||
Less: Amounts attributable to noncontrolling interests | 1,640 | (1,958 | ) | (318 | ) | |||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. | 22,403 | (16,419 | ) | 5,984 | ||||||||||||||||||||
Less: Preferred stock distributions | 1,026 | — | 1,026 | |||||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. common stockholders | $ | 21,377 | $ | (16,419 | ) | $ | 4,958 | |||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Real Property Operations | Home Sales and Home Rentals | Consolidated | Real Property Operations | Home Sales and Home Rentals | Consolidated | |||||||||||||||||||
Identifiable assets: | ||||||||||||||||||||||||
Investment property, net | $ | 2,207,526 | $ | 360,638 | $ | 2,568,164 | $ | 1,460,628 | $ | 294,424 | $ | 1,755,052 | ||||||||||||
Cash and cash equivalents | 81,864 | 1,595 | 83,459 | 5,336 | (583 | ) | 4,753 | |||||||||||||||||
Inventory of manufactured homes | — | 8,860 | 8,860 | — | 5,810 | 5,810 | ||||||||||||||||||
Notes and other receivables, net | 163,713 | 11,144 | 174,857 | 151,980 | 10,161 | 162,141 | ||||||||||||||||||
Other assets | 97,485 | 4,867 | 102,352 | 62,554 | 4,594 | 67,148 | ||||||||||||||||||
Total assets | $ | 2,550,588 | $ | 387,104 | $ | 2,937,692 | $ | 1,680,498 | $ | 314,406 | $ | 1,994,904 | ||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||
Income Taxes | Income Taxes | ||||||||||||||||||||
We have elected to be taxed as a real estate investment trust (“REIT”) as defined under Section 856 of the Internal Revenue Code of 1986 (“Code”), as amended. In order for us to qualify as a REIT, at least ninety-five percent (95%) of our gross income in any year must be derived from certain-specified qualifying sources and at least seventy-five percent (75%) of our gross income must be derived from income qualifying as real estate income under the Code. In addition, a REIT must distribute at least ninety percent (90%) of its REIT ordinary taxable income to its stockholders and meet other tests. | |||||||||||||||||||||
Qualification as a REIT involves the satisfaction of numerous requirements (some on an annual and quarterly basis) established under highly technical and complex Code provisions for which there are only limited judicial or administrative interpretations, and involves the determination of various factual matters and circumstances not entirely within our control. In addition, frequent changes occur in the area of REIT taxation which requires us to continually monitor our tax status. We analyzed the various REIT tests and determined that we continued to qualify as a REIT for the year ended December 31, 2014. | |||||||||||||||||||||
As a REIT, we generally will not be subject to U.S. federal income taxes at the corporate level on the ordinary taxable income we distribute to our stockholders as dividends. If we fail to qualify as a REIT in any taxable year, our taxable income could be subject to U.S. federal income tax at regular corporate rates (including any applicable alternative minimum tax). Even if we qualify as a REIT, we may be subject to certain state and local income taxes and to U.S. federal income and excise taxes on our undistributed income. | |||||||||||||||||||||
For income tax purposes, distributions paid to common stockholders consist of ordinary income, capital gains, and return of capital. For the years ended December 31, 2014, 2013, and 2012, distributions paid per share were taxable as follows (unaudited): | |||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Amount | Percentage | Amount | Percentage | Amount | Percentage | ||||||||||||||||
Ordinary income | $ | 0.82 | 31.7 | % | $ | 0.87 | 34.6 | % | $ | 0.92 | 48.7 | % | |||||||||
Capital gain | 0.64 | 24.6 | % | — | — | % | — | — | % | ||||||||||||
Return of capital | 1.14 | 43.7 | % | 1.65 | 65.4 | % | 0.97 | 51.3 | % | ||||||||||||
Total distributions declared | $ | 2.6 | 100 | % | $ | 2.52 | 100 | % | $ | 1.89 | 100 | % | |||||||||
Sun Home Services, Inc. ("SHS"), our taxable REIT subsidiary, is subject to U.S. federal income taxes. Our deferred tax assets and liabilities reflect the impact of temporary differences between the amounts of assets and liabilities for financial reporting purposes and the bases of such assets and liabilities as measured by tax laws. Deferred tax assets are reduced, if necessary, by a valuation allowance to the amount where realization is more likely than not assured after considering all available evidence. Our temporary differences primarily relate to net operating loss carryforwards and depreciation. | |||||||||||||||||||||
The deferred tax assets included in the consolidated balance sheets are comprised of the following tax effects of temporary differences (in thousands): | |||||||||||||||||||||
As of December 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||
Net operating loss carryforwards | $ | 26,214 | $ | 24,237 | |||||||||||||||||
Real estate assets | 29,092 | 23,999 | |||||||||||||||||||
Amortization of intangibles | (128 | ) | (128 | ) | |||||||||||||||||
Gross deferred tax assets | 55,178 | 48,108 | |||||||||||||||||||
Valuation allowance | (54,178 | ) | (47,108 | ) | |||||||||||||||||
Net deferred tax assets | $ | 1,000 | $ | 1,000 | |||||||||||||||||
SHS has operating loss carryforwards of approximately $77.1 million (or $26.2 million after tax) as of December 31, 2014. The loss carryforwards will begin to expire in 2021 through 2031 if not offset by future taxable income. Management believes its net deferred tax asset will be realized but realization is continuously subject to an assessment as to recoverability in the future. | |||||||||||||||||||||
13. Income Taxes, continued | |||||||||||||||||||||
The deferred tax asset will be used when we generate sufficient taxable income. No federal tax expense was recognized in the years ended December 31, 2014, 2013, and 2012. | |||||||||||||||||||||
We had no unrecognized tax benefits as of December 31, 2014 and 2013. We expect no significant increases or decreases in unrecognized tax benefits due to changes in tax positions within one year of December 31, 2014. | |||||||||||||||||||||
We classify certain state taxes as income taxes for financial reporting purposes. We record Texas Margin Tax as income tax in our financial statements. We recorded a provision for state income taxes of approximately $0.2 million, for each of the years ended December 31, 2014, 2013, and 2012. No deferred tax liability is recorded in relation to the Texas Margin Tax as of December 31, 2014 and 2013. | |||||||||||||||||||||
We and our subsidiaries are subject to income taxes in the U.S. and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, we are no longer subject to U.S. federal, state and local, examinations by tax authorities for the tax years ended December 31, 2008 and prior. | |||||||||||||||||||||
Our policy is to report income tax penalties and income tax related interest expense as a component of income tax expense. No interest or penalty associated with any unrecognized income tax benefit or provision was accrued, nor was any income tax related interest or penalty recognized during the years ended December 31, 2014, 2013 and 2012. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Earnings Per Share | Earnings Per Share | ||||||||||||
We have outstanding stock options, unvested restricted shares and Series A-4 Preferred Stock, and our Operating Partnership has Common OP units, convertible Series A-1 preferred OP units, Series A-3 preferred OP units, Series A-4 preferred OP units and Aspen preferred OP Units, which if converted or exercised, may impact dilution. | |||||||||||||
Computations of basic and diluted earnings per share were as follows (in thousands, except per share data): | |||||||||||||
Year Ended December 31, | |||||||||||||
Numerator | 2014 | 2013 | 2012 | ||||||||||
Net income attributable to common stockholders | $ | 22,376 | $ | 10,610 | $ | 4,958 | |||||||
Allocation of income to restricted stock awards | (127 | ) | (144 | ) | 58 | ||||||||
Net income attributable to common stockholders after allocation | $ | 22,249 | $ | 10,466 | $ | 5,016 | |||||||
Allocation of income to restricted stock awards | 127 | 144 | (58 | ) | |||||||||
Amounts attributable to Series A-4 Preferred Stock | 76 | — | — | ||||||||||
Diluted earnings: net income attributable to common stockholders after allocation | $ | 22,452 | $ | 10,610 | $ | 4,958 | |||||||
Denominator | |||||||||||||
Weighted average common shares outstanding | 41,337 | 34,228 | 26,970 | ||||||||||
Add: dilutive stock options | 16 | 15 | 17 | ||||||||||
Add: dilutive restricted stock | 237 | 167 | 138 | ||||||||||
Add: dilutive Series A-4 Preferred Stock | 215 | — | — | ||||||||||
Diluted weighted average common shares and securities | 41,805 | 34,410 | 27,125 | ||||||||||
Earnings per share available to common stockholders: | |||||||||||||
Basic | $ | 0.54 | $ | 0.31 | $ | 0.19 | |||||||
Diluted | $ | 0.54 | $ | 0.31 | $ | 0.18 | |||||||
14. Earnings Per Share, continued | |||||||||||||
We excluded certain securities from the computation of diluted earnings per share because the inclusion of these securities would have been anti-dilutive for the periods presented. The following table presents the outstanding securities that were excluded from the computation of diluted earnings per share for the years ended December 31, 2014, 2013 and 2012 (amounts in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Common OP units | 2,561 | 2,069 | 2,071 | ||||||||||
Series A-1 preferred OP units | 429 | 455 | 455 | ||||||||||
Series A-3 preferred OP units | 40 | 40 | — | ||||||||||
Series A-4 preferred OP units | 669 | — | — | ||||||||||
Aspen preferred OP units | 1,284 | 1,325 | 1,325 | ||||||||||
Total securities | 4,983 | 3,889 | 3,851 | ||||||||||
Quarterly_Financial_Informatio
Quarterly Financial Information | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Quarterly Financial Information [Text Block] | Quarterly Financial Information (Unaudited) | ||||||||||||||||
The following is a condensed summary of our unaudited quarterly results for years ended December 31, 2014 and 2013. Income (loss) per share for the year may not equal the sum of the fiscal quarters' income (loss) per share due to changes in basic and diluted shares outstanding. | |||||||||||||||||
Quarters | |||||||||||||||||
1st | 2nd | 3rd | 4th | ||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||
2014 | |||||||||||||||||
Total revenues | $ | 111,181 | $ | 115,387 | $ | 125,435 | $ | 119,672 | |||||||||
Total expenses | 100,651 | 108,993 | 112,655 | 139,267 | |||||||||||||
Income (loss) before income taxes and distributions from affiliate | $ | 10,530 | $ | 6,394 | $ | 12,780 | $ | (19,595 | ) | ||||||||
Distributions from affiliate (1) | $ | 400 | $ | 400 | $ | 400 | $ | — | |||||||||
Gain on disposition of properties, net (2) | $ | — | $ | 885 | $ | 13,631 | $ | 3,138 | |||||||||
Gain on settlement | $ | — | $ | — | $ | — | $ | 4,452 | |||||||||
Net income (loss) attributable to Sun Communities, Inc. common stockholders | $ | 7,846 | $ | 4,928 | $ | 22,671 | $ | (13,069 | ) | ||||||||
Earnings per share: | |||||||||||||||||
Basic | $ | 0.21 | $ | 0.12 | $ | 0.54 | $ | (0.27 | ) | ||||||||
Diluted | $ | 0.21 | $ | 0.12 | $ | 0.54 | $ | (0.27 | ) | ||||||||
2013 (3) | |||||||||||||||||
Total revenues | $ | 102,913 | $ | 100,151 | $ | 107,201 | $ | 104,957 | |||||||||
Total expenses | 94,983 | 97,290 | 101,841 | 102,976 | |||||||||||||
Income (loss) before income taxes and distributions from affiliate | $ | 7,930 | $ | 2,861 | $ | 5,360 | $ | 1,981 | |||||||||
Distributions from affiliate (1) | $ | 400 | $ | 450 | $ | 700 | $ | 700 | |||||||||
Net income (loss) attributable to Sun Communities, Inc. common stockholders | $ | 5,744 | $ | 1,035 | $ | 3,749 | $ | 82 | |||||||||
Earnings (loss) per share: | |||||||||||||||||
Basic | $ | 0.19 | $ | 0.03 | $ | 0.1 | $ | — | |||||||||
Diluted | $ | 0.19 | $ | 0.03 | $ | 0.1 | $ | — | |||||||||
(1) Refer to Note 7 for more information regarding distributions from affiliate. | |||||||||||||||||
(2) During the second quarter of 2014, we recorded a gain on disposition of properties, net of $0.9 million. In the fourth quarter of 2014, we identified and recorded a revision to this gain of $3.2 million. Had this revision been recorded in the second quarter instead of the fourth quarter, our basic and diluted earnings per share would have been income of $0.20 in the second quarter and a loss of $0.34 in the fourth quarter. Management of the Company concluded that the effect of the fourth quarter revision was not material to the second and fourth quarter 2014 financial statements. | |||||||||||||||||
(3) Financial information includes certain reclassifications to conform to current period presentation. |
Derivative_Instruments_And_Hed
Derivative Instruments And Hedging Activities | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities | Derivative Instruments and Hedging Activities | ||||||||||||||||||||||||||
Our objective in using interest rate derivatives is to manage exposure to interest rate movements thereby minimizing the effect of interest rate changes and the effect it could have on future cash flows. Interest rate swaps and caps are used to accomplish this objective. We require hedging derivative instruments to be highly effective in reducing the risk exposure that they are designated to hedge. We formally designate any instrument that meets these hedging criteria as a hedge at the inception of the derivative contract. We do not enter into derivative instruments for speculative purposes. | |||||||||||||||||||||||||||
The following table provides the terms of our interest rate derivative contracts that were in effect as of December 31, 2014: | |||||||||||||||||||||||||||
Type | Purpose | Effective Date | Maturity Date | Notional | Based on | Variable Rate | Fixed Rate | Spread | Effective Fixed Rate | ||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||
Cap | Cap Floating Rate | 4/1/12 | 4/1/15 | $ | 152.4 | 3 Month LIBOR | 0.23% | 11.27% | —% | N/A | |||||||||||||||||
Cap | Cap Floating Rate | 10/3/11 | 10/3/16 | $ | 10 | 3 Month LIBOR | 0.23% | 11.02% | —% | N/A | |||||||||||||||||
In January 2014, our interest rate swap agreement with a notional amount of $20.0 million expired. We did not enter into a new interest rate swap agreement. | |||||||||||||||||||||||||||
In accordance with ASC Topic 815, Derivatives and Hedging, we have recorded the fair value of our derivative instruments designated as cash flow hedges on the balance sheet. See Note 17 for information on the determination of fair value for the derivative instruments. The following table summarizes the fair value of derivative instruments included in our consolidated balance sheets as of December 31, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||||||||||||||||||||
Derivatives designated as hedging instruments | December 31, 2014 | December 31, 2013 | December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Interest rate swap and cap agreements | Other assets | $ | — | $ | — | Other liabilities | $ | — | $ | 97 | |||||||||||||||||
Total derivatives designated as hedging instruments | $ | — | $ | — | $ | — | $ | 97 | |||||||||||||||||||
These valuation adjustments will only be realized under certain situations. For example, if we terminate contracts prior to maturity or if derivatives fail to qualify for hedge accounting, we would need to amortize amounts currently included in accumulated other comprehensive income into interest expense over the terms of the derivative contracts. We did not terminate our swap prior to maturity, and it did not fail to qualify for hedge accounting; therefore, the net of valuation adjustments through the maturity date approximated zero. | |||||||||||||||||||||||||||
Our hedges were highly effective and had minimal effect on income. The following table summarizes the impact of derivative instruments for the years ended December 31, 2014, 2013 and 2012 as recorded in the consolidated statements of operations (in thousands): | |||||||||||||||||||||||||||
Derivatives in | Amount of gain or (loss) | Location of gain or (loss) reclassified from accumulated OCI into income (effective portion) | Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | ||||||||||||||||||||||||
cash flow hedging relationship | recognized in OCI | ||||||||||||||||||||||||||
(effective portion) | |||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | ||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Interest rate swap and cap agreements | $ | 97 | $ | 362 | $ | 643 | Interest expense | $ | — | $ | — | $ | — | ||||||||||||||
Our financial derivative instruments are designated and qualify as cash flow hedges and the effective portion of the gain or loss on such hedges are reported as a component of accumulated other comprehensive loss in our consolidated balance sheets. To the extent that the hedging relationship is not effective or does not qualify as a cash flow hedge, the ineffective portion is recorded in interest expense. Hedges that received designated hedge accounting treatment are evaluated for effectiveness at the time that they are designated as well as through the hedging period. No gain or loss was recognized in the consolidated financial statements | |||||||||||||||||||||||||||
16. Derivative Instruments and Hedging Activities, continued | |||||||||||||||||||||||||||
related to hedge ineffectiveness or to amounts excluded from effectiveness testing on our cash flow hedge during the years ended December 31, 2014 and 2013. An insignificant loss was recognized during the year ended December 31, 2012. | |||||||||||||||||||||||||||
Certain of our derivative instruments contain provisions that require us to provide ongoing collateralization on derivative instruments in a liability position. As of December 31, 2013, we had collateral deposits recorded in other assets of approximately $0.7 million. As of December 31, 2014, we had no such deposits recorded. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Fair Value Of Financial Instruments | Fair Value of Financial Instruments | |||||||||||||||||||
Our financial instruments consist primarily of cash and cash equivalents, accounts and notes receivable, accounts payable, derivative instruments, and debt. | ||||||||||||||||||||
ASC Topic 820, Fair Value Measurements and Disclosures, establishes guidance for the fair value hierarchy that requires the use of observable market data, when available, and prioritizes the inputs to valuation techniques used to measure fair value in the following categories: | ||||||||||||||||||||
Level 1—Quoted unadjusted 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 in which all observable inputs and significant value drivers are observable in active markets. | ||||||||||||||||||||
Level 3—Model derived valuations in which one or more significant inputs or significant value drivers are unobservable, including assumptions developed by us. | ||||||||||||||||||||
We utilize fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value. | ||||||||||||||||||||
Derivative Instruments | ||||||||||||||||||||
The derivative instruments held by us are interest rate swap and cap agreements for which quoted market prices are indirectly available. For those derivatives, we use model-derived valuations in which all observable inputs and significant value drivers are observable in active markets provided by brokers or dealers to determine the fair values of derivative instruments on a recurring basis (Level 2). | ||||||||||||||||||||
Installment Notes on Manufactured Homes | ||||||||||||||||||||
The net carrying value of the installment notes on manufactured homes estimates the fair value as the interest rates in the portfolio comparable to current prevailing market rates (Level 2). | ||||||||||||||||||||
Long Term Debt and Lines of Credit | ||||||||||||||||||||
The fair value of long term debt (excluding the secured borrowing) is based on the estimates of management and on rates currently quoted and rates currently prevailing for comparable loans and instruments of comparable maturities (Level 2). | ||||||||||||||||||||
Collateralized Receivables and Secured Borrowing | ||||||||||||||||||||
The fair value of these financial instruments offset each other as our collateralized receivables represent a transfer of financial assets and the cash proceeds received from these transactions have been classified as a secured borrowing in the consolidated comparable to current prevailing market rates (Level 2). | ||||||||||||||||||||
Other Financial Instruments | ||||||||||||||||||||
The carrying values of cash and cash equivalents, accounts receivable, and accounts payable approximate their fair market values due to the short-term nature of these instruments. | ||||||||||||||||||||
17. Fair Value of Financial Instruments, continued | ||||||||||||||||||||
The table below sets forth our financial assets and liabilities that required disclosure of their fair values on a recurring basis as of December 31, 2014. The table presents the carrying values and fair values of our financial instruments as of December 31, 2014 and December 31, 2013 that were measured using the valuation techniques described above (in thousands). The table excludes other financial instruments such as cash and cash equivalents, accounts receivable, and accounts payable because the carrying values associated with these instruments approximate fair value since their maturities are less than one year. | ||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||
Financial assets | Carrying Value | Fair Value | Carrying Value | Fair Value | ||||||||||||||||
Installment notes receivable on manufactured homes, net | $ | 25,884 | $ | 25,884 | $ | 25,471 | $ | 25,471 | ||||||||||||
Collateralized receivables, net | $ | 122,962 | $ | 122,962 | $ | 109,821 | $ | 109,821 | ||||||||||||
Financial liabilities | ||||||||||||||||||||
Derivative instruments | $ | — | $ | — | $ | 97 | $ | 97 | ||||||||||||
Debt (excluding secured borrowing) | $ | 1,702,643 | $ | 1,752,939 | $ | 1,200,927 | $ | 1,211,821 | ||||||||||||
Secured borrowing | $ | 123,650 | $ | 123,649 | $ | 110,510 | $ | 110,510 | ||||||||||||
Lines of credit | $ | 5,794 | $ | 5,794 | $ | 181,383 | $ | 181,383 | ||||||||||||
The table below sets forth, by level, our financial assets and liabilities that were required to be carried at fair value in the consolidated balance sheets as of December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||
Description | Frequency | Asset/(Liability) | Level 1 | Level 2 | Level 3 | |||||||||||||||
31-Dec-14 | Derivative instruments | Recurring | $ | — | $ | — | $ | — | $ | — | ||||||||||
31-Dec-13 | Derivative instruments | Recurring | $ | (97 | ) | $ | — | $ | (97 | ) | $ | — | ||||||||
The derivative instruments are the only financial liabilities that were required to be carried at fair value in the consolidated balance sheets for the periods indicated, and we have no financial assets that are required to be carried at fair value. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recent Accounting Pronouncements |
In August 2014, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2014-15, (“ASU 2014-15”), Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern. ASU 2014-15 requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Certain disclosures will be required if conditions give rise to substantial doubt about an entity’s ability to continue as a going concern. ASU 2014-15 applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. We are currently evaluating the potential impacts the new standard will have on our quarterly reporting process. | |
In May 2014, the FASB issued ASU No. 2014-09, (“ASU 2014-09”), Revenue from Contracts with Customers as a new Topic, Accounting Standards Codification ("ASC") Topic 606. The objective of ASU 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new standard, companies will perform a five-step analysis of transactions to determine when and how revenue is recognized. ASU 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB ASC. This ASU is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2016 and shall be applied using either a full retrospective or modified retrospective approach. Early adoption is not permitted. We are currently evaluating the new guidance and have not determined the impact this standard may have on our consolidated financial statements nor decided upon the method of adoption. | |
In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ("ASU 2014-08"). ASU 2014-08 raises the threshold for a disposal to qualify as a discontinued operation by requiring only those disposals of a component or group of components that represent a strategic shift or that will have a major effect on a company’s operational and financial results and also requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The guidance does not change the presentation requirements for discontinued operations in the statement where net income is presented. ASU 2014-08 also requires the reclassification of assets and liabilities of a discontinued operation in the statement of financial position for all prior periods presented. The standard expands the disclosures for discontinued operations and requires new disclosures related to individually material disposals that do not meet the definition of a discontinued operation, an entity's continuing involvement with a discontinued operation following the disposal date and retained equity method investments in a discontinued operation. ASU 2014-08 is effective for annual periods beginning on or after December 15, 2014 and interim periods within annual periods beginning on or after December 15, 2015. Early adoption is permitted but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issue. We have chosen to early adopt this pronouncement and have applied the guidance to recent applicable disposals (see Note 2). |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | Commitments and Contingencies |
On June 4, 2010, we settled all of the claims arising out of the litigation filed in 2004 by TJ Holdings, LLC in the Superior Court of Guilford County, North Carolina and the associated arbitration proceeding commenced by TJ Holdings in Southfield, Michigan. Under the terms of the settlement agreement, in which neither party admitted any liability whatsoever, we paid TJ Holdings $360,000. In addition, pursuant to this settlement, TJ Holdings’ percentage ownership interest in Sun/Forest, LLC will be increased on a one time basis, in the event of a sale or refinance of all of the SunChamp Properties, to between 9.03% and 28.99% depending on our average closing stock price as reported by the NYSE during the 30 days preceding the sale or refinance of all the SunChamp Properties. Once this percentage ownership interest has been adjusted, there will be no further adjustments from subsequent sales or refinances of the SunChamp Properties. The likelihood of a sale or refinancing of all of the SunChamp properties is not probable as these properties continue to see growth potential nor do we have a need to refinance all of the properties, so we do not expect it to have a material adverse impact on our results of operations or financial condition. | |
We are involved in various other legal proceedings arising in the ordinary course of business. All such proceedings, taken together, are not expected to have a material adverse impact on our results of operations or financial condition. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Related Party Transactions |
We have entered into the following transactions with OFS LLC: | |
Investment in OFS LLC. We entered into an agreement with four unrelated companies and we contributed cash of approximately $0.6 million towards the formation of OFS LLC. OFS LLC purchased the loan origination platform of Origen. The purpose of the venture is to originate manufactured housing installment contracts for its members. We accounted for our investment in OFS LLC using the equity method of accounting which we have since suspended. As of December 31, 2014, we had an ownership interest in the OFS LLC of 22.9%, and the carrying value of our investment was zero. | |
Loan Origination, Sale and Purchase Agreement. As of 2014, our agreement with OFS LLC, in which OFS LLC agreed to fund loans that meet our underwriting guidelines and then transfer those loans to us pursuant to a Loan Origination, Sale and Purchase Agreement, was terminated. In 2013, we paid OFS LLC a fee of $650 per loan pursuant to a Loan Origination, Sale and Purchase Agreement which totaled approximately $0.1 million and we purchased, at par, $7.7 million of these loans during the year ended December 31, 2013. | |
We have entered into the following transactions with Origen: | |
Investment in Origen. We own 5,000,000 shares of Origen common stock and Shiffman Origen LLC (which is owned by the Milton M. Shiffman Spouse's Marital Trust, Gary A. Shiffman (our Chairman and Chief Executive Officer), and members of Mr. Shiffman's family) owns 1,025,000 shares of Origen common stock. Gary A. Shiffman is a member of the Board of Directors of Origen and Arthur A. Weiss, our director, is a trustee of the Milton M. Shiffman Spouse's Marital Trust. Ronald A. Klein, one of our directors, is the Chief Executive Officer and a director of Origen. Mr. Klein, Mr. Weiss and Brian M. Hermelin, another of our directors, beneficially own approximately 570,000, 10,000, and 200,000 shares of Origen common stock, respectively. We accounted for our investment in Origen using the equity method of accounting which we have since suspended. As of December 31, 2014 we had an ownership interest in Origen of approximately 19%, and the carrying value of our investment was zero. | |
Board Membership and Chief Executive Officer. Gary A. Shiffman, our Chairman and Chief Executive Officer, is a board member of Origen, and Ronald A. Klein is a board member and the Chief Executive Officer of Origen. | |
In addition to the transactions with Origen described above, Mr. Shiffman, Mr. Weiss and Mr. Klein have entered into the following transactions with us: | |
Lease of Executive Offices. Gary A. Shiffman, together with certain of his family members, indirectly owns a 21% equity interest in American Center LLC, the entity from which we lease office space for our principal executive offices. Each of Arthur A. Weiss and Ronald A. Klein owns a less than one percent indirect interest in American Center LLC. Under this lease agreement, we lease approximately 62,900 rentable square feet. The term of the lease is until October 31, 2026, and the base rent through October 31, 2015 is $16.45 per square foot (gross). From November 1, 2015 to October 31, 2016, the base rent will be $16.95 per square foot (gross) and from November 1, 2016 to October 31, 2017, the base rent will be $17.45 per square foot (gross). We also have a temporary lease for approximately 10,500 rentable square feet with base rent equal to $12.71 per square foot (gross). This temporary lease is currently operating on a month to month basis. Our annual rent expense associated with the lease of our executive offices was approximately $1.0 million for each of the years ended December 31, 2014 and 2013, and $0.7 million for the year ended December 31, 2012. Our future annual rent expense will be approximately $1.0 million for 2015, $1.1 million for 2016, 2017 and 2018, $1.2 million for 2019 and $8.8 million thereafter. Each of Mr. Shiffman, Mr. Weiss and Mr. Klein may have a conflict of interest with respect to his obligations as our officer and/or director and his ownership interest in American Center LLC. | |
Legal Counsel. During 2012-2014, Jaffe, Raitt, Heuer, & Weiss, Professional Corporation acted as our general counsel and represented us in various matters. Arthur A. Weiss is the Chairman of the Board of Directors and a shareholder of such firm. We incurred legal fees and expenses owed to Jaffe, Raitt, Heuer, & Weiss of approximately $7.5 million, $3.2 million and $3.4 million in the years ended December 31, 2014, 2013 and 2012, respectively. | |
Tax Consequences Upon Sale of Properties. Gary A. Shiffman holds limited partnership interests in the Operating Partnership which were received in connection with the contribution of properties from partnerships previously affiliated with him. Prior to any redemption of these limited partnership interests for our common stock, Mr. Shiffman will have tax consequences different from those on us and our public stockholders upon the sale of any of these partnerships. Therefore, we and Mr. Shiffman may have different objectives regarding the appropriate pricing and timing of any sale of those properties. |
Subsequent_Events_Notes
Subsequent Events (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Subsequent Events |
We have evaluated our financial statements for subsequent events through the date that this Form 10-K was issued. | |
Second Closing of Green Courte Acquisition | |
During January 2015, we completed the second closing of the acquisition of the Green Courte properties. See Note 2 for details on the acquisition. | |
Debt | |
In relation to the acquisition of the Green Courte properties (see Note 2), subsequent to year end we refinanced approximately $120.9 million of mortgage debt on 13 of the communities (resulting in proceeds of $126.0 million) at a weighted average interest rate of 3.87% per annum and a weighted average term of 14.1 years, and we assumed approximately $149.9 million of mortgage debt at a weighted average interest rate of 5.74% and a weighted average remaining term of 6.3 years. | |
Disposition | |
In January 2015, we completed the sale of a MH community comprised of 798 sites located in Indiana for $17.3 million. | |
Acquisition Agreement | |
On December 4, 2014,we entered into seven separate contribution agreements (the “Contribution Agreements”) with a group of related selling entities (collectively, the “Selling Parties”) with respect to our planned acquisition of a portfolio of seven manufactured housing communities, including associated manufactured homes and certain other personal property and intangibles. After closing, we will operate the properties as six communities rather than seven. The properties are located in the Orlando, Florida area, are comprised of approximately 3,150 manufactured housing sites (approximately 60% of which are in age-restricted communities) and are 96% occupied. In addition to the developed sites, there are approximately 380 potential expansion sites in the Properties. | |
Total consideration for the acquisition is approximately $257.6 million, including the assumption of approximately $157.5 million of debt. The balance of the consideration will be paid in a combination of up to approximately $41.8 million in cash, common OP units of the Operating Partnership at an issuance price of $61 per unit and newly-created Series C preferred OP units of the Operating Partnership at an issuance price of $100 per unit (the “Series C Preferred Units”). Of the consideration to be paid with OP units in the Operating Partnership, 60% will be paid in Series C Preferred Units and 40% will be paid in common OP units. Distributions will be paid on the Series C Preferred Units at a rate equal to 4.0% per year from the date of issuance until the second anniversary of the date of issuance, 4.5% per year during the following three years, and 5.0% per year thereafter. Subject to certain limited exceptions, at the holder's option, each Series C Preferred Unit will be exchangeable into 1.1111 shares of the Company's common stock. Holders of Series C Preferred Units will not have voting or consent rights. | |
The transaction is subject to the Company's satisfaction with its due diligence investigation and customary closing conditions, including consent of the existing lenders. The transaction is expected to close in the second quarter of 2015. |
SCHEDULE_III
SCHEDULE III | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Disclosure [Text Block] | |||||||||||||||||||||||||||||||||||||||||
Initial Cost to Company | Costs Capitalized | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||||
Subsequent to Acquisition | at December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
(Improvements) | |||||||||||||||||||||||||||||||||||||||||
Property Name | Location | Encumbrance | Land | Depreciable | Land | Depreciable | Land | Depreciable | Total | Accumulated | Date | Acquired (A) or | |||||||||||||||||||||||||||||
Assets | Assets | Assets | Depreciation | Constructed (C) | |||||||||||||||||||||||||||||||||||||
Academy/Westpoint | Canton, MI | B | $ | 1,485 | $ | 14,278 | $ | — | $ | 7,882 | $ | 1,485 | $ | 22,160 | $ | 23,645 | $ | 9,663 | 2000 | (A) | |||||||||||||||||||||
Allendale | Allendale, MI | B | 366 | 3,684 | — | 11,260 | 366 | 14,944 | 15,310 | 6,738 | 1996 | (A) | |||||||||||||||||||||||||||||
Alpine | Grand Rapids, MI | E | 729 | 6,692 | — | 9,532 | 729 | 16,224 | 16,953 | 7,391 | 1996 | (A) | |||||||||||||||||||||||||||||
Apple Carr Village | Muskegon, MI | 3,511 | 800 | 6,172 | — | 4,499 | 800 | 10,671 | 11,471 | 1,381 | 2011 | (A) | |||||||||||||||||||||||||||||
Apple Creek | Amelia, OH | C | 543 | 5,480 | — | 2,205 | 543 | 7,685 | 8,228 | 3,310 | 1999 | (A) | |||||||||||||||||||||||||||||
Arbor Terrace | Bradenton, FL | A | 456 | 4,410 | — | 2,516 | 456 | 6,926 | 7,382 | 3,043 | 1996 | (A) | |||||||||||||||||||||||||||||
Ariana Village | Lakeland, FL | 5,915 | 240 | 2,195 | — | 1,207 | 240 | 3,402 | 3,642 | 1,841 | 1994 | (A) | |||||||||||||||||||||||||||||
Autumn Ridge | Ankeny, IA | B | 890 | 8,054 | (33 | ) | 3,241 | 857 | 11,295 | 12,152 | 5,614 | 1996 | (A) | ||||||||||||||||||||||||||||
Bell Crossing | Clarksville, TN | C | 717 | 1,916 | (13 | ) | 9,077 | 704 | 10,993 | 11,697 | 3,965 | 1999 | (A) | ||||||||||||||||||||||||||||
Big Timber Lake RV Resort | Cape May, NJ | E | 590 | 21,308 | — | 1,216 | 590 | 22,524 | 23,114 | 1,268 | 2013 | (A) | |||||||||||||||||||||||||||||
Blazing Star | San Antonio, TX | 3,913 | 750 | 6,163 | — | 1,205 | 750 | 7,368 | 8,118 | 692 | 2012 | (A) | |||||||||||||||||||||||||||||
Blue Star | Apache Junction, AZ | 2,681 | 980 | 507 | — | — | 980 | 507 | 1,487 | 10 | 2014 | (A) | |||||||||||||||||||||||||||||
Blueberry Hill | Bushnell, FL | C | 3,830 | 3,240 | — | 1,839 | 3,830 | 5,079 | 8,909 | 509 | 2012 | (A) | |||||||||||||||||||||||||||||
Boulder Ridge | Pflugerville, TX | — | 1,000 | 500 | 3,324 | 23,427 | 4,324 | 23,927 | 28,251 | 10,825 | 1998 | (C) | |||||||||||||||||||||||||||||
Branch Creek | Austin, TX | B | 796 | 3,716 | — | 5,260 | 796 | 8,976 | 9,772 | 4,885 | 1995 | (A) | |||||||||||||||||||||||||||||
Brentwood | Kentwood, MI | A | 385 | 3,592 | — | 2,648 | 385 | 6,240 | 6,625 | 3,255 | 1996 | (A) | |||||||||||||||||||||||||||||
Brentwood West | Mesa, AZ | 20,043 | 13,620 | 24,202 | — | 2 | 13,620 | 24,204 | 37,824 | 424 | 2014 | (A) | |||||||||||||||||||||||||||||
Brookside Manor | Goshen, IN | B | 260 | 1,080 | 386 | 13,133 | 646 | 14,213 | 14,859 | 6,660 | 1985 | (A) | |||||||||||||||||||||||||||||
Brookside Village | Kentwood, MI | — | 170 | 5,564 | — | 706 | 170 | 6,270 | 6,440 | 815 | 2011 | (A) | |||||||||||||||||||||||||||||
Buttonwood Bay | Sebring, FL | A | 1,952 | 18,294 | — | 5,251 | 1,952 | 23,545 | 25,497 | 9,905 | 2001 | (A) | |||||||||||||||||||||||||||||
Byron Center | Byron Center, MI | E | 253 | 2,402 | — | 2,544 | 253 | 4,946 | 5,199 | 2,412 | 1996 | (A) | |||||||||||||||||||||||||||||
Camelot Villa | Macomb, MI | E | 910 | 21,211 | — | 4,864 | 910 | 26,075 | 26,985 | 1,418 | 2013 | (A) | |||||||||||||||||||||||||||||
Candlelight Village | Sauk Village, IL | D | 600 | 5,623 | — | 7,305 | 600 | 12,928 | 13,528 | 5,998 | 1996 | (A) | |||||||||||||||||||||||||||||
Candlewick Court | Owosso, MI | A | 125 | 1,900 | 132 | 2,876 | 257 | 4,776 | 5,033 | 2,685 | 1985 | (A) | |||||||||||||||||||||||||||||
Carriage Cove | Sanford, FL | 17,652 | 6,050 | 21,235 | — | 356 | 6,050 | 21,591 | 27,641 | 369 | 2014 | (A) | |||||||||||||||||||||||||||||
Carrington Pointe | Ft. Wayne, IN | B | 1,076 | 3,632 | — | 8,178 | 1,076 | 11,810 | 12,886 | 5,242 | 1997 | (A) | |||||||||||||||||||||||||||||
Casa Del Valle | Alamo, TX | C | 246 | 2,316 | — | 1,835 | 246 | 4,151 | 4,397 | 1,538 | 1997 | (A) | |||||||||||||||||||||||||||||
Castaways | Berlin, MD | 22,537 | 14,320 | 22,277 | — | 2,096 | 14,320 | 24,373 | 38,693 | 518 | 2014 | (A) | |||||||||||||||||||||||||||||
Catalina | Middletown, OH | A | 653 | 5,858 | — | 4,979 | 653 | 10,837 | 11,490 | 5,782 | 1993 | (A) | |||||||||||||||||||||||||||||
Cave Creek | Evans, CO | — | 2,241 | 15,343 | — | 14,021 | 2,241 | 29,364 | 31,605 | 7,132 | 2004 | (A) | |||||||||||||||||||||||||||||
Chisholm Point | Pflugerville, TX | B | 609 | 5,286 | — | 5,788 | 609 | 11,074 | 11,683 | 6,070 | 1995 | (A) | |||||||||||||||||||||||||||||
Initial Cost to Company | Costs Capitalized | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||||
Subsequent to Acquisition | at December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
(Improvements) | |||||||||||||||||||||||||||||||||||||||||
Property Name | Location | Encumbrance | Land | Depreciable | Land | Depreciable | Land | Depreciable | Total | Accumulated | Date | Acquired (A) or | |||||||||||||||||||||||||||||
Assets | Assets | Assets | Depreciation | Constructed (C) | |||||||||||||||||||||||||||||||||||||
Cider Mill Crossings | Fenton, MI | C | $ | 520 | $ | 1,568 | $ | — | $ | 12,480 | $ | 520 | $ | 14,048 | $ | 14,568 | $ | 1,956 | 2011 | (A) | |||||||||||||||||||||
Cider Mill Village | Middleville, MI | E | 250 | 3,590 | — | 2,926 | 250 | 6,516 | 6,766 | 883 | 2011 | (A) | |||||||||||||||||||||||||||||
Clearwater Village | South Bend, IN | B | 80 | 1,270 | 61 | 5,401 | 141 | 6,671 | 6,812 | 2,812 | 1986 | (A) | |||||||||||||||||||||||||||||
Club Naples | Naples, FL | C | 5,780 | 4,952 | — | 1,613 | 5,780 | 6,565 | 12,345 | 834 | 2011 | (A) | |||||||||||||||||||||||||||||
Cobus Green | Osceola, IN | E | 762 | 7,037 | — | 6,892 | 762 | 13,929 | 14,691 | 6,669 | 1993 | (A) | |||||||||||||||||||||||||||||
College Park Estates | Canton, MI | C | 75 | 800 | 174 | 9,778 | 249 | 10,578 | 10,827 | 5,288 | 1978 | (A) | |||||||||||||||||||||||||||||
Colonial Village | Allegany, NY | 4,225 | 60 | 5,760 | — | — | 60 | 5,760 | 5,820 | 99 | 2014 | (A) | |||||||||||||||||||||||||||||
Comal Farms | New Braunfels, TX | C | 1,455 | 1,732 | — | 8,994 | 1,455 | 10,726 | 12,181 | 4,313 | 2000 | (A&C) | |||||||||||||||||||||||||||||
Continental North | Davison, MI | E | 749 | 6,089 | — | 11,031 | 749 | 17,120 | 17,869 | 8,807 | 1996 | (A) | |||||||||||||||||||||||||||||
Corporate Headquarters | Southfield, MI | — | — | — | — | 20,425 | — | 20,425 | 20,425 | 7,745 | Various | ||||||||||||||||||||||||||||||
Country Acres | Cadillac, MI | E | 380 | 3,495 | — | 3,213 | 380 | 6,708 | 7,088 | 3,142 | 1996 | (A) | |||||||||||||||||||||||||||||
Country Hills Village | Hudsonville, MI | E | 340 | 3,861 | — | 3,084 | 340 | 6,945 | 7,285 | 1,153 | 2011 | (A) | |||||||||||||||||||||||||||||
Country Meadows | Flat Rock, MI | B | 924 | 7,583 | 296 | 18,652 | 1,220 | 26,235 | 27,455 | 13,217 | 1994 | (A) | |||||||||||||||||||||||||||||
Country Meadows Village | Caledonia, MI | C | 550 | 5,555 | — | 3,308 | 550 | 8,863 | 9,413 | 1,339 | 2011 | (A) | |||||||||||||||||||||||||||||
Countryside Estates | Mckean, PA | 7,020 | 320 | 11,610 | — | 122 | 320 | 11,732 | 12,052 | 199 | 2014 | (A) | |||||||||||||||||||||||||||||
Countryside Atlanta | Lawrenceville, GA | 12,950 | 1,274 | 10,957 | — | 1,476 | 1,274 | 12,433 | 13,707 | 4,515 | 2004 | (A) | |||||||||||||||||||||||||||||
Countryside Gwinnett | Buford, GA | 10,182 | 1,124 | 9,539 | — | 4,266 | 1,124 | 13,805 | 14,929 | 5,285 | 2004 | (A) | |||||||||||||||||||||||||||||
Countryside Lake Lanier | Buford, GA | 16,810 | 1,916 | 16,357 | — | 9,008 | 1,916 | 25,365 | 27,281 | 8,272 | 2004 | (A) | |||||||||||||||||||||||||||||
Countryside Village | Great Falls, MT | 4,237 | 430 | 7,157 | — | 2 | 430 | 7,159 | 7,589 | 124 | 2014 | (A) | |||||||||||||||||||||||||||||
Creekside | Reidsville, NC | C | 350 | 1,423 | (331 | ) | (1,149 | ) | 19 | 274 | 293 | 51 | 2000 | (A&C) | |||||||||||||||||||||||||||
Creekwood Meadows | Burton, MI | D | 808 | 2,043 | 404 | 13,100 | 1,212 | 15,143 | 16,355 | 7,629 | 1997 | (C) | |||||||||||||||||||||||||||||
Cutler Estates | Grand Rapids, MI | C | 749 | 6,941 | — | 3,276 | 749 | 10,217 | 10,966 | 5,441 | 1996 | (A) | |||||||||||||||||||||||||||||
Deerfield Run | Anderson, IN | C | 990 | 1,607 | — | 5,483 | 990 | 7,090 | 8,080 | 2,934 | 1999 | (A) | |||||||||||||||||||||||||||||
Desert Harbor | Apache Junction, AZ | 11,850 | 3,940 | 14,891 | — | — | 3,940 | 14,891 | 18,831 | 258 | 2014 | (A) | |||||||||||||||||||||||||||||
Driftwood | Clermont, NJ | 20,000 | 1,450 | 29,851 | — | 1,578 | 1,450 | 31,429 | 32,879 | 618 | 2014 | (A) | |||||||||||||||||||||||||||||
Dutton Mill Village | Caledonia, MI | E | 370 | 8,997 | — | 1,752 | 370 | 10,749 | 11,119 | 1,404 | 2011 | (A) | |||||||||||||||||||||||||||||
Eagle Crest | Firestone, CO | B | 2,015 | 150 | — | 35,333 | 2,015 | 35,483 | 37,498 | 13,481 | 1998 | (C) | |||||||||||||||||||||||||||||
East Fork | Batavia, OH | C | 1,280 | 6,302 | — | 13,967 | 1,280 | 20,269 | 21,549 | 6,265 | 2000 | (A&C) | |||||||||||||||||||||||||||||
East Village Estates | Washington Twp., MI | 21,031 | 1,410 | 25,413 | — | 3,013 | 1,410 | 28,426 | 29,836 | 2,634 | 2012 | (A) | |||||||||||||||||||||||||||||
Edwardsville | Edwardsville, KS | C | 425 | 8,805 | 541 | 8,849 | 966 | 17,654 | 18,620 | 8,872 | 1987 | (A) | |||||||||||||||||||||||||||||
Egelcraft | Muskegon, MI | 10,577 | 690 | 22,596 | — | 430 | 690 | 23,026 | 23,716 | 385 | 2014 | (A) | |||||||||||||||||||||||||||||
Fiesta Village | Mesa, AZ | — | 2,830 | 4,475 | — | — | 2,830 | 4,475 | 7,305 | 79 | 2014 | (A) | |||||||||||||||||||||||||||||
Fisherman's Cove | Flint, MI | E | 380 | 3,438 | — | 3,682 | 380 | 7,120 | 7,500 | 3,841 | 1993 | (A) | |||||||||||||||||||||||||||||
Forest Meadows | Philomath, OR | E | 1,031 | 2,050 | — | 790 | 1,031 | 2,840 | 3,871 | 1,448 | 1999 | (A) | |||||||||||||||||||||||||||||
Initial Cost to Company | Costs Capitalized | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||||
Subsequent to Acquisition | at December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
(Improvements) | |||||||||||||||||||||||||||||||||||||||||
Property Name | Location | Encumbrance | Land | Depreciable | Land | Depreciable | Land | Depreciable | Total | Accumulated | Date | Acquired (A) or | |||||||||||||||||||||||||||||
Assets | Assets | Assets | Depreciation | Constructed (C) | |||||||||||||||||||||||||||||||||||||
Four Seasons | Elkhart, IN | D | $ | 500 | $ | 4,811 | $ | — | $ | 2,823 | $ | 500 | $ | 7,634 | $ | 8,134 | $ | 3,205 | 2000 | (A) | |||||||||||||||||||||
Frenchtown Villa District | Newport, MI | 30,975 | 1,450 | 52,327 | — | 1,088 | 1,450 | 53,415 | 54,865 | 896 | 2014 | (A) | |||||||||||||||||||||||||||||
Glen Laurel | Concord, NC | C | 1,641 | 453 | — | 15,310 | 1,641 | 15,763 | 17,404 | 5,158 | 2001 | (A&C) | |||||||||||||||||||||||||||||
Goldcoaster | Homestead, FL | E | 446 | 4,234 | 172 | 4,379 | 618 | 8,613 | 9,231 | 3,894 | 1997 | (A) | |||||||||||||||||||||||||||||
Grand | Grand Rapids, MI | A | 374 | 3,587 | — | 3,429 | 374 | 7,016 | 7,390 | 3,151 | 1996 | (A) | |||||||||||||||||||||||||||||
Grand Lakes | Citra, FL | C | 5,280 | 4,501 | — | 2,079 | 5,280 | 6,580 | 11,860 | 653 | 2012 | (A) | |||||||||||||||||||||||||||||
The Grove at Alta Ridge | Denver, CO | 28,640 | 5,370 | 37,152 | — | 102 | 5,370 | 37,254 | 42,624 | 630 | 2014 | (A) | |||||||||||||||||||||||||||||
Groves | Ft. Myers, FL | D | 249 | 2,396 | — | 2,450 | 249 | 4,846 | 5,095 | 1,873 | 1997 | (A) | |||||||||||||||||||||||||||||
Gwynn's Island | Gwynn, VA | C | 760 | 595 | — | 1,275 | 760 | 1,870 | 2,630 | 127 | 2013 | (A) | |||||||||||||||||||||||||||||
Hamlin | Webberville, MI | A | 125 | 1,675 | 536 | 9,863 | 661 | 11,538 | 12,199 | 4,713 | 1984 | (A) | |||||||||||||||||||||||||||||
Hickory Hills Village | Battle Creek, MI | 4,242 | 760 | 7,697 | — | 2,077 | 760 | 9,774 | 10,534 | 1,365 | 2011 | (A) | |||||||||||||||||||||||||||||
Hidden Ridge | Hopkins, MI | C | 440 | 893 | — | 974 | 440 | 1,867 | 2,307 | 222 | 2011 | (A) | |||||||||||||||||||||||||||||
High Point | Frederica, DE | 17,282 | 898 | 7,031 | (42 | ) | 5,892 | 856 | 12,923 | 13,779 | 5,092 | 1997 | (A) | ||||||||||||||||||||||||||||
Holiday Village | Elkhart, IN | B | 100 | 3,207 | 143 | 3,972 | 243 | 7,179 | 7,422 | 3,618 | 1986 | (A) | |||||||||||||||||||||||||||||
Holiday West Village | Holland, MI | C | 340 | 8,067 | — | 1,432 | 340 | 9,499 | 9,839 | 1,321 | 2011 | (A) | |||||||||||||||||||||||||||||
Holly/Hawaiian Gardens | Holly, MI | A | 1,514 | 13,596 | — | 3,146 | 1,514 | 16,742 | 18,256 | 5,569 | 2004 | (A) | |||||||||||||||||||||||||||||
Holly Forest | Holly Hill, FL | B | 920 | 8,376 | — | 600 | 920 | 8,976 | 9,896 | 5,105 | 1997 | (A) | |||||||||||||||||||||||||||||
Hunters Crossing | Capac, MI | C | 430 | 1,092 | — | 752 | 430 | 1,844 | 2,274 | 169 | 2012 | (A) | |||||||||||||||||||||||||||||
Hunters Glen | Wayland, MI | C | 1,102 | 11,926 | — | 5,621 | 1,102 | 17,547 | 18,649 | 6,021 | 2004 | (A) | |||||||||||||||||||||||||||||
Indian Creek | Ft. Myers Beach, FL | 69,012 | 3,832 | 34,660 | — | 8,153 | 3,832 | 42,813 | 46,645 | 22,665 | 1996 | (A) | |||||||||||||||||||||||||||||
Indian Creek | Geneva on the Lake, OH | C | 420 | 20,791 | — | 1,984 | 420 | 22,775 | 23,195 | 1,251 | 2013 | (A) | |||||||||||||||||||||||||||||
Island Lake | Merritt Island, FL | 12,816 | 700 | 6,431 | — | 557 | 700 | 6,988 | 7,688 | 4,309 | 1995 | (A) | |||||||||||||||||||||||||||||
Jellystone | North Java, NY | 7,146 | 870 | 8,884 | — | 1,549 | 870 | 10,433 | 11,303 | 763 | 2013 | (A) | |||||||||||||||||||||||||||||
Jellystone at Birchwood Acres | Woodridge, NY | 4,179 | 560 | 5,527 | — | 2,345 | 560 | 7,872 | 8,432 | 454 | 2013 | (A) | |||||||||||||||||||||||||||||
Kensington Meadows | Lansing, MI | B | 250 | 2,699 | — | 8,421 | 250 | 11,120 | 11,370 | 5,535 | 1995 | (A) | |||||||||||||||||||||||||||||
Kenwood | La Feria, TX | C | 145 | 1,842 | (111 | ) | (869 | ) | 34 | 973 | 1,007 | 43 | 1999 | (A) | |||||||||||||||||||||||||||
King's Court | Traverse City, MI | B | 1,473 | 13,782 | (11 | ) | 4,042 | 1,462 | 17,824 | 19,286 | 10,180 | 1996 | (A) | ||||||||||||||||||||||||||||
King's Lake | Debary, FL | 9,859 | 280 | 2,542 | — | 2,868 | 280 | 5,410 | 5,690 | 2,870 | 1994 | (A) | |||||||||||||||||||||||||||||
Knollwood Estates | Allendale, MI | 2,664 | 400 | 4,061 | — | 3,379 | 400 | 7,440 | 7,840 | 3,191 | 2001 | (A) | |||||||||||||||||||||||||||||
La Casa Blanca | Apache Junction, AZ | 9,593 | 4,370 | 14,142 | — | 2 | 4,370 | 14,144 | 18,514 | 246 | 2014 | (A) | |||||||||||||||||||||||||||||
Lafayette Place | Warren, MI | D | 669 | 5,979 | — | 5,170 | 669 | 11,149 | 11,818 | 5,285 | 1998 | (A) | |||||||||||||||||||||||||||||
Lake In Wood | Narvon, PA | 11,013 | 7,360 | 7,097 | — | 1,045 | 7,360 | 8,142 | 15,502 | 770 | 2012 | (A) | |||||||||||||||||||||||||||||
Lake Juliana | Auburndale, FL | D | 335 | 3,048 | — | 1,726 | 335 | 4,774 | 5,109 | 2,674 | 1994 | (A) | |||||||||||||||||||||||||||||
Initial Cost to Company | Costs Capitalized | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||||
Subsequent to Acquisition | at December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
(Improvements) | |||||||||||||||||||||||||||||||||||||||||
Property Name | Location | Encumbrance | Land | Depreciable | Land | Depreciable | Land | Depreciable | Total | Accumulated | Date | Acquired (A) or | |||||||||||||||||||||||||||||
Assets | Assets | Assets | Depreciation | Constructed (C) | |||||||||||||||||||||||||||||||||||||
Lake Laurie RV Resort | Cape May, NJ | C | $ | 650 | $ | 7,736 | $ | — | $ | 3,157 | $ | 650 | $ | 10,893 | $ | 11,543 | $ | 742 | 2013 | (A) | |||||||||||||||||||||
Lake Rudolph | Santa Claus, IN | 18,352 | 2,340 | 28,113 | — | 1,137 | 2,340 | 29,250 | 31,590 | 783 | 2014 | (A) | |||||||||||||||||||||||||||||
Lake San Marino | Naples, FL | D | 650 | 5,760 | — | 3,002 | 650 | 8,762 | 9,412 | 3,833 | 1996 | (A) | |||||||||||||||||||||||||||||
Lakeshore Landings | Orlando, FL | 10,705 | 2,570 | 19,481 | — | 2 | 2,570 | 19,483 | 22,053 | 337 | 2014 | (A) | |||||||||||||||||||||||||||||
Lakeview | Ypsilanti, MI | C | 1,156 | 10,903 | (1 | ) | 4,611 | 1,155 | 15,514 | 16,669 | 5,520 | 2004 | (A) | ||||||||||||||||||||||||||||
Leisure Village | Belmont, MI | C | 360 | 8,219 | — | 241 | 360 | 8,460 | 8,820 | 1,033 | 2011 | (A) | |||||||||||||||||||||||||||||
Liberty Farms | Valparaiso, IN | A | 66 | 1,201 | 116 | 2,992 | 182 | 4,193 | 4,375 | 2,327 | 1985 | (A) | |||||||||||||||||||||||||||||
Lincoln Estates | Holland, MI | A | 455 | 4,201 | — | 2,842 | 455 | 7,043 | 7,498 | 3,588 | 1996 | (A) | |||||||||||||||||||||||||||||
Lost Dutchman | Apache Junction, AZ | 4,084 | 4,140 | 12,213 | — | 6 | 4,140 | 12,219 | 16,359 | 213 | 2014 | (A) | |||||||||||||||||||||||||||||
Maple Brook | Matteson, IL | 29,614 | 8,460 | 48,865 | — | 3 | 8,460 | 48,868 | 57,328 | 844 | 2014 | (A) | |||||||||||||||||||||||||||||
Maplewood Mobile | Indianapolis, IN | A | 275 | 2,122 | — | 2,212 | 275 | 4,334 | 4,609 | 2,549 | 1989 | (A) | |||||||||||||||||||||||||||||
Maplewood Manor | Brunswick, ME | 8,325 | 1,770 | 12,982 | — | — | 1,770 | 12,982 | 14,752 | 225 | 2014 | (A) | |||||||||||||||||||||||||||||
Meadow Lake Estates | White Lake, MI | B | 1,188 | 11,498 | 127 | 8,951 | 1,315 | 20,449 | 21,764 | 11,548 | 1994 | (A) | |||||||||||||||||||||||||||||
Meadowbrook | Charlotte, NC | C | 1,310 | 6,570 | — | 14,192 | 1,310 | 20,762 | 22,072 | 6,371 | 2000 | (A&C) | |||||||||||||||||||||||||||||
Meadowbrook Estates | Monroe, MI | E | 431 | 3,320 | 379 | 12,148 | 810 | 15,468 | 16,278 | 8,104 | 1986 | (A) | |||||||||||||||||||||||||||||
Meadowbrook Village | Tampa, FL | A | 519 | 4,728 | — | 660 | 519 | 5,388 | 5,907 | 3,565 | 1994 | (A) | |||||||||||||||||||||||||||||
Meadows | Nappanee, IN | A | 287 | 2,300 | — | 4,107 | 287 | 6,407 | 6,694 | 3,760 | 1987 | (A) | |||||||||||||||||||||||||||||
Merrymeeting | Brunswick, ME | — | 250 | 1,020 | — | — | 250 | 1,020 | 1,270 | 18 | 2014 | (A) | |||||||||||||||||||||||||||||
Mountain View | Mesa, AZ | 11,378 | 5,490 | 12,325 | — | 2 | 5,490 | 12,327 | 17,817 | 216 | 2014 | (A) | |||||||||||||||||||||||||||||
Naples Gardens | Naples, FL | C | 3,640 | 2,020 | — | 1,111 | 3,640 | 3,131 | 6,771 | 391 | 2011 | (A) | |||||||||||||||||||||||||||||
New Point RV Resort | New Point, VA | C | 1,550 | 5,259 | — | 2,845 | 1,550 | 8,104 | 9,654 | 492 | 2013 | (A) | |||||||||||||||||||||||||||||
North Lake Estates | Moore Haven, FL | C | 4,150 | 3,486 | — | 985 | 4,150 | 4,471 | 8,621 | 592 | 2011 | (A) | |||||||||||||||||||||||||||||
North Point Estates | Pueblo, CO | C | 1,582 | 3,027 | — | 4,968 | 1,582 | 7,995 | 9,577 | 2,845 | 2001 | (C) | |||||||||||||||||||||||||||||
Northville Crossing | Northville, MI | 20,565 | 1,250 | 29,564 | (14 | ) | 9,717 | 1,236 | 39,281 | 40,517 | 3,693 | 2012 | (A) | ||||||||||||||||||||||||||||
Oak Creek | Coarsegold, CA | 9,914 | 4,760 | 11,185 | — | — | 4,760 | 11,185 | 15,945 | 195 | 2014 | (A) | |||||||||||||||||||||||||||||
Oak Crest | Austin, TX | C | 4,311 | 12,611 | — | 11,109 | 4,311 | 23,720 | 28,031 | 7,485 | 2002 | (A) | |||||||||||||||||||||||||||||
Oak Island Village | East Lansing, MI | 3,291 | 320 | 6,843 | — | 2,145 | 320 | 8,988 | 9,308 | 1,216 | 2011 | (A) | |||||||||||||||||||||||||||||
Oak Ridge | Manteno, IL | 10,557 | 1,090 | 36,941 | — | 3 | 1,090 | 36,944 | 38,034 | 637 | 2014 | (A) | |||||||||||||||||||||||||||||
Oakwood Village | Miamisburg, OH | B | 1,964 | 6,401 | — | 13,129 | 1,964 | 19,530 | 21,494 | 8,642 | 1998 | (A) | |||||||||||||||||||||||||||||
Orange City | Orange City, FL | C | 920 | 5,540 | — | 1,262 | 920 | 6,802 | 7,722 | 838 | 2011 | (A) | |||||||||||||||||||||||||||||
Orange Tree | Orange City, FL | — | 283 | 2,530 | 15 | 973 | 298 | 3,503 | 3,801 | 2,146 | 1994 | (A) | |||||||||||||||||||||||||||||
Orchard Lake | Milford, OH | C | 395 | 4,025 | (15 | ) | 885 | 380 | 4,910 | 5,290 | 2,191 | 1999 | (A) | ||||||||||||||||||||||||||||
Palm Creek | Casa Grande, AZ | 41,945 | 11,836 | 76,143 | — | 5,097 | 11,836 | 81,240 | 93,076 | 7,956 | 2012 | (A) | |||||||||||||||||||||||||||||
Parkside Village | Cheektowaga, NY | 5,745 | 550 | 10,402 | — | — | 550 | 10,402 | 10,952 | 179 | 2014 | (A) | |||||||||||||||||||||||||||||
Initial Cost to Company | Costs Capitalized | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||||
Subsequent to Acquisition | at December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
(Improvements) | |||||||||||||||||||||||||||||||||||||||||
Property Name | Location | Encumbrance | Land | Depreciable | Land | Depreciable | Land | Depreciable | Total | Accumulated | Date | Acquired (A) or | |||||||||||||||||||||||||||||
Assets | Assets | Assets | Depreciation | Constructed (C) | |||||||||||||||||||||||||||||||||||||
Paso Robles RV Resort | Paso Robles, CA | — | $ | 1,396 | $ | — | $ | — | $ | — | $ | 1,396 | $ | — | $ | 1,396 | $ | — | 2014 | (A) | |||||||||||||||||||||
Pebble Creek | Greenwood, IN | C | 1,030 | 5,074 | — | 6,996 | 1,030 | 12,070 | 13,100 | 5,407 | 2000 | (A&C) | |||||||||||||||||||||||||||||
Pecan Branch | Georgetown, TX | C | 1,379 | — | 235 | 4,984 | 1,614 | 4,984 | 6,598 | 2,312 | 1999 | (C) | |||||||||||||||||||||||||||||
Peter's Pond RV Resort | Sandwich, MA | C | 4,700 | 22,840 | — | 3,032 | 4,700 | 25,872 | 30,572 | 1,670 | 2013 | (A) | |||||||||||||||||||||||||||||
Pheasant Ridge | Lancaster, PA | D | 2,044 | 19,279 | — | 495 | 2,044 | 19,774 | 21,818 | 8,233 | 2002 | (A) | |||||||||||||||||||||||||||||
Pin Oak Parc | O'Fallon, MO | B | 1,038 | 3,250 | 467 | 10,879 | 1,505 | 14,129 | 15,634 | 5,892 | 1994 | (A) | |||||||||||||||||||||||||||||
Pine Hills | Middlebury, IN | E | 72 | 544 | 60 | 3,195 | 132 | 3,739 | 3,871 | 1,956 | 1980 | (A) | |||||||||||||||||||||||||||||
Pine Ridge | Prince George, VA | A | 405 | 2,397 | — | 3,829 | 405 | 6,226 | 6,631 | 3,155 | 1986 | (A) | |||||||||||||||||||||||||||||
Pine Trace | Houston, TX | — | 2,907 | 17,169 | (5 | ) | 11,785 | 2,902 | 28,954 | 31,856 | 7,472 | 2004 | (A) | ||||||||||||||||||||||||||||
Pinebrook Village | Grand Rapids, MI | C | 130 | 5,692 | — | 1,507 | 130 | 7,199 | 7,329 | 931 | 2011 | (A) | |||||||||||||||||||||||||||||
Presidential | Hudsonville, MI | B | 680 | 6,314 | — | 6,204 | 680 | 12,518 | 13,198 | 6,102 | 1996 | (A) | |||||||||||||||||||||||||||||
Rainbow RV | Frostproof, FL | E | 1,890 | 5,682 | — | 1,989 | 1,890 | 7,671 | 9,561 | 678 | 2012 | (A) | |||||||||||||||||||||||||||||
Rancho Mirage | Apache Junction, AZ | 15,491 | 7,510 | 22,238 | — | 1 | 7,510 | 22,239 | 29,749 | 386 | 2014 | (A) | |||||||||||||||||||||||||||||
Reserve at Fox Creek | Bullhead City, AZ | 9,049 | 1,950 | 20,074 | — | — | 1,950 | 20,074 | 22,024 | 346 | 2014 | (A) | |||||||||||||||||||||||||||||
Richmond | Richmond, MI | D | 501 | 2,040 | — | 1,835 | 501 | 3,875 | 4,376 | 1,934 | 1998 | (A) | |||||||||||||||||||||||||||||
River Haven | Grand Haven, MI | C | 1,800 | 16,967 | — | 6,854 | 1,800 | 23,821 | 25,621 | 9,778 | 2001 | (A) | |||||||||||||||||||||||||||||
River Ranch | Austin, TX | C | 4,690 | 843 | (4 | ) | 35,438 | 4,686 | 36,281 | 40,967 | 5,701 | 2000 | (A&C) | ||||||||||||||||||||||||||||
River Ridge | Austin, TX | 9,632 | 3,201 | 15,090 | (2,351 | ) | 7,212 | 850 | 22,302 | 23,152 | 8,423 | 2002 | (A) | ||||||||||||||||||||||||||||
River Ridge Expansion | Austin, TX | — | — | — | 2,351 | 4,503 | 2,351 | 4,503 | 6,854 | 466 | 2010 | (C) | |||||||||||||||||||||||||||||
Roxbury | Goshen, IN | B | 1,057 | 9,870 | — | 3,873 | 1,057 | 13,743 | 14,800 | 5,531 | 2001 | (A) | |||||||||||||||||||||||||||||
Royal Country | Miami, FL | 54,000 | 2,290 | 20,758 | — | 1,773 | 2,290 | 22,531 | 24,821 | 15,079 | 1994 | (A) | |||||||||||||||||||||||||||||
Rudgate Clinton | Clinton Township, MI | 27,832 | 1,090 | 23,664 | — | 4,758 | 1,090 | 28,422 | 29,512 | 2,580 | 2012 | (A) | |||||||||||||||||||||||||||||
Rudgate Manor | Sterling Heights, MI | 16,653 | 1,440 | 31,110 | — | 6,748 | 1,440 | 37,858 | 39,298 | 3,393 | 2012 | (A) | |||||||||||||||||||||||||||||
Saco RV | Saco, ME | — | 790 | 3,576 | — | 731 | 790 | 4,307 | 5,097 | 119 | 2014 | (A) | |||||||||||||||||||||||||||||
Saddle Oak Club | Ocala, FL | B | 730 | 6,743 | — | 1,324 | 730 | 8,067 | 8,797 | 4,996 | 1995 | (A) | |||||||||||||||||||||||||||||
Saddlebrook | San Marcos, TX | C | 1,703 | 11,843 | — | 9,565 | 1,703 | 21,408 | 23,111 | 7,460 | 2002 | (A) | |||||||||||||||||||||||||||||
Scio Farms | Ann Arbor, MI | A | 2,300 | 22,659 | (11 | ) | 13,944 | 2,289 | 36,603 | 38,892 | 19,390 | 1995 | (A) | ||||||||||||||||||||||||||||
Sea Air | Rehoboth Beach, DE | 20,000 | 1,207 | 10,179 | — | 1,984 | 1,207 | 12,163 | 13,370 | 5,005 | 1997 | (A) | |||||||||||||||||||||||||||||
Seaport RV Resort | Mystic, CT | C | 120 | 290 | — | 2,130 | 120 | 2,420 | 2,540 | 224 | 2013 | (A) | |||||||||||||||||||||||||||||
Seashore | Cape May, NJ | — | 1,030 | 23,228 | — | 982 | 1,030 | 24,210 | 25,240 | 455 | 2014 | (A) | |||||||||||||||||||||||||||||
Sheffield | Auburn Hills, MI | — | 778 | 7,165 | — | 1,570 | 778 | 8,735 | 9,513 | 2,706 | 2006 | (A) | |||||||||||||||||||||||||||||
Sherman Oaks | Jackson, MI | C | 200 | 2,400 | 240 | 7,108 | 440 | 9,508 | 9,948 | 5,306 | 1986 | (A) | |||||||||||||||||||||||||||||
Siesta Bay | Ft. Myers Beach, FL | D | 2,051 | 18,549 | — | 3,393 | 2,051 | 21,942 | 23,993 | 12,103 | 1996 | (A) | |||||||||||||||||||||||||||||
Silver Springs | Clinton Township, MI | 7,984 | 861 | 16,595 | — | 4,512 | 861 | 21,107 | 21,968 | 2,028 | 2012 | (A) | |||||||||||||||||||||||||||||
Initial Cost to Company | Costs Capitalized | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||||
Subsequent to Acquisition | at December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
(Improvements) | |||||||||||||||||||||||||||||||||||||||||
Property Name | Location | Encumbrance | Land | Depreciable | Land | Depreciable | Land | Depreciable | Total | Accumulated | Date | Acquired (A) or | |||||||||||||||||||||||||||||
Assets | Assets | Assets | Depreciation | Constructed (C) | |||||||||||||||||||||||||||||||||||||
Silver Star | Orlando, FL | A | $ | 1,022 | $ | 9,306 | $ | — | $ | 1,029 | $ | 1,022 | $ | 10,335 | $ | 11,357 | $ | 5,987 | 1996 | (A) | |||||||||||||||||||||
Sky Harbor | Cheektowaga, NY | 16,352 | 2,318 | 24,253 | — | 172 | 2,318 | 24,425 | 26,743 | 418 | 2014 | (A) | |||||||||||||||||||||||||||||
Skyline | Fort Collins, CO | 10,435 | 2,260 | 12,120 | — | 2 | 2,260 | 12,122 | 14,382 | 210 | 2014 | (A) | |||||||||||||||||||||||||||||
Snow to Sun | Weslaco, TX | C | 190 | 2,143 | 13 | 2,003 | 203 | 4,146 | 4,349 | 1,654 | 1997 | (A) | |||||||||||||||||||||||||||||
Southfork | Belton, MO | D | 1,000 | 9,011 | — | 6,063 | 1,000 | 15,074 | 16,074 | 6,475 | 1997 | (A) | |||||||||||||||||||||||||||||
Southern Hills | Stewartville, MN | 8,000 | 360 | 12,723 | — | 442 | 360 | 13,165 | 13,525 | 216 | 2014 | (A) | |||||||||||||||||||||||||||||
Southwood Village | Grand Rapids, MI | 5,531 | 300 | 11,517 | — | 1,841 | 300 | 13,358 | 13,658 | 1,693 | 2011 | (A) | |||||||||||||||||||||||||||||
St. Clair Place | St. Clair, MI | E | 501 | 2,029 | — | 1,297 | 501 | 3,326 | 3,827 | 1,852 | 1998 | (A) | |||||||||||||||||||||||||||||
Stonebridge | San Antonio, TX | C | 2,515 | 2,096 | (615 | ) | 9,021 | 1,900 | 11,117 | 13,017 | 4,722 | 2000 | (A&C) | ||||||||||||||||||||||||||||
Stonebridge | Richfield Twp., MI | — | 2,044 | — | 2,227 | — | 4,271 | — | 4,271 | — | 1998 | (C) | |||||||||||||||||||||||||||||
Summit Ridge | Converse, TX | C | 2,615 | 2,092 | (883 | ) | 18,545 | 1,732 | 20,637 | 22,369 | 5,162 | 2000 | (A&C) | ||||||||||||||||||||||||||||
Sun Valley | Apache Junction, AZ | 10,679 | 2,750 | 18,408 | — | 1 | 2,750 | 18,409 | 21,159 | 318 | 2014 | (A) | |||||||||||||||||||||||||||||
Sun Villa | Reno, NV | 18,300 | 2,385 | 11,773 | (1,100 | ) | 906 | 1,285 | 12,679 | 13,964 | 6,750 | 1998 | (A) | ||||||||||||||||||||||||||||
Sunset Ridge | Kyle, TX | C | 2,190 | 2,775 | — | 7,603 | 2,190 | 10,378 | 12,568 | 4,442 | 2000 | (A&C) | |||||||||||||||||||||||||||||
Sunset Ridge | Portland, MI | C | 2,044 | — | (9 | ) | 15,681 | 2,035 | 15,681 | 17,716 | 6,728 | 1998 | (C) | ||||||||||||||||||||||||||||
Swan Meadow | Dillon, CO | 14,325 | 2,140 | 19,734 | — | 58 | 2,140 | 19,792 | 21,932 | 318 | 2014 | (A) | |||||||||||||||||||||||||||||
Sycamore Village | Mason, MI | 5,867 | 390 | 13,341 | — | 3,280 | 390 | 16,621 | 17,011 | 2,215 | 2011 | (A) | |||||||||||||||||||||||||||||
Tamarac Village | Ludington, MI | 5,409 | 300 | 12,028 | 85 | 2,550 | 385 | 14,578 | 14,963 | 1,653 | 2011 | (A) | |||||||||||||||||||||||||||||
Tampa East | Dover, FL | E | 734 | 6,310 | — | 3,727 | 734 | 10,037 | 10,771 | 2,905 | 2005 | (A) | |||||||||||||||||||||||||||||
Three Lakes | Hudson, FL | C | 5,050 | 3,361 | — | 1,575 | 5,050 | 4,936 | 9,986 | 506 | 2012 | (A) | |||||||||||||||||||||||||||||
Thunderhill Estates | Sturgeon Bay, WI | 5,775 | 640 | 9,008 | — | 205 | 640 | 9,213 | 9,853 | 155 | 2014 | (A) | |||||||||||||||||||||||||||||
Timber Ridge | Ft. Collins, CO | B | 990 | 9,231 | — | 4,571 | 990 | 13,802 | 14,792 | 7,483 | 1996 | (A) | |||||||||||||||||||||||||||||
Timberline Estates | Coopersville, MI | B | 535 | 4,867 | — | 5,829 | 535 | 10,696 | 11,231 | 5,081 | 1994 | (A) | |||||||||||||||||||||||||||||
Town and Country | Traverse City, MI | E | 406 | 3,736 | — | 1,407 | 406 | 5,143 | 5,549 | 2,927 | 1996 | (A) | |||||||||||||||||||||||||||||
Town & Country Village | Lisbon, ME | 2,700 | 230 | 4,539 | — | — | 230 | 4,539 | 4,769 | 78 | 2014 | (A) | |||||||||||||||||||||||||||||
Valley View Estates | Allegany, NY | 4,225 | 110 | 4,511 | — | 78 | 110 | 4,589 | 4,699 | 78 | 2014 | (A) | |||||||||||||||||||||||||||||
Valley Brook | Indianapolis, IN | B | 150 | 3,500 | 1,277 | 14,015 | 1,427 | 17,515 | 18,942 | 9,984 | 1989 | (A) | |||||||||||||||||||||||||||||
Village Trails | Howard City, MI | — | 988 | 1,472 | (51 | ) | 2,141 | 937 | 3,613 | 4,550 | 1,893 | 1998 | (A) | ||||||||||||||||||||||||||||
The Villas at Calla Pointe | Cheektowaga, NY | 4,318 | 380 | 11,014 | — | — | 380 | 11,014 | 11,394 | 189 | 2014 | (A) | |||||||||||||||||||||||||||||
Vines RV Resort | Paso Robles, CA | — | 890 | 7,110 | — | 662 | 890 | 7,772 | 8,662 | 408 | 2013 | (A) | |||||||||||||||||||||||||||||
Wagon Wheel | Old Orchard Beach, ME | C | 590 | 7,703 | — | 2,541 | 590 | 10,244 | 10,834 | 684 | 2013 | (A) | |||||||||||||||||||||||||||||
Warren Dunes Village | Bridgman, MI | — | 310 | 3,350 | — | 1,706 | 310 | 5,056 | 5,366 | 762 | 2011 | (A) | |||||||||||||||||||||||||||||
Water Oak | Lady Lake, FL | 54,000 | 2,834 | 16,706 | 101 | 17,142 | 2,935 | 33,848 | 36,783 | 16,699 | 1993 | (A) | |||||||||||||||||||||||||||||
Waverly Shores Village | Holland, MI | 4,986 | 340 | 7,267 | — | 518 | 340 | 7,785 | 8,125 | 988 | 2011 | (A) | |||||||||||||||||||||||||||||
Initial Cost to Company | Costs Capitalized | Gross Amount Carried | |||||||||||||||||||||||||||||||||||||||
Subsequent to Acquisition | at December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
(Improvements) | |||||||||||||||||||||||||||||||||||||||||
Property Name | Location | Encumbrance | Land | Depreciable | Land | Depreciable | Land | Depreciable | Total | Accumulated | Date | Acquired (A) or | |||||||||||||||||||||||||||||
Assets | Assets | Assets | Depreciation | Constructed (C) | |||||||||||||||||||||||||||||||||||||
West Glen Village | Indianapolis, IN | A | $ | 1,100 | $ | 10,028 | $ | — | $ | 8,022 | $ | 1,100 | $ | 18,050 | $ | 19,150 | $ | 8,898 | 1994 | (A) | |||||||||||||||||||||
West Village Estates | Romulus, MI | 6,424 | 884 | 19,765 | — | 2,649 | 884 | 22,414 | 23,298 | 2,060 | 2012 | (A) | |||||||||||||||||||||||||||||
Westbrook | Toledo, OH | B | 1,110 | 10,462 | — | 3,919 | 1,110 | 14,381 | 15,491 | 6,654 | 1999 | (A) | |||||||||||||||||||||||||||||
Westbrook Senior | Toledo, OH | B | 355 | 3,295 | — | 311 | 355 | 3,606 | 3,961 | 1,587 | 2001 | (A) | |||||||||||||||||||||||||||||
Westward Ho RV Resort | Glenbeulah, WI | C | 1,050 | 5,642 | — | 1,509 | 1,050 | 7,151 | 8,201 | 457 | 2013 | (A) | |||||||||||||||||||||||||||||
White Lake | White Lake, MI | B | 672 | 6,179 | — | 9,259 | 672 | 15,438 | 16,110 | 7,380 | 1997 | (A) | |||||||||||||||||||||||||||||
Wild Acres | Orchard Beach, ME | C | 1,640 | 26,786 | — | 3,607 | 1,640 | 30,393 | 32,033 | 2,136 | 2013 | (A) | |||||||||||||||||||||||||||||
Wildwood Community | Sandwich, IL | 21,364 | 1,890 | 37,732 | — | 3 | 1,890 | 37,735 | 39,625 | 651 | 2014 | (A) | |||||||||||||||||||||||||||||
Willowbrook | Toledo, OH | B | 781 | 7,054 | — | 3,579 | 781 | 10,633 | 11,414 | 4,918 | 1997 | (A) | |||||||||||||||||||||||||||||
Windham Hills | Jackson, MI | B | 2,673 | 2,364 | — | 15,985 | 2,673 | 18,349 | 21,022 | 7,473 | 1998 | (A) | |||||||||||||||||||||||||||||
Windsor Woods Village | Wayland, MI | C | 270 | 5,835 | — | 3,560 | 270 | 9,395 | 9,665 | 1,261 | 2011 | (A) | |||||||||||||||||||||||||||||
Wine Country RV Resort | Paso Robles, CA | — | 1,740 | 11,510 | — | 561 | 1,740 | 12,071 | 13,811 | 234 | 2014 | (A) | |||||||||||||||||||||||||||||
Woodhaven Place | Woodhaven, MI | B | 501 | 4,541 | — | 4,160 | 501 | 8,701 | 9,202 | 3,746 | 1998 | (A) | |||||||||||||||||||||||||||||
Woodlake Trails | San Antonio, TX | C | 1,186 | 287 | (56 | ) | 10,474 | 1,130 | 10,761 | 11,891 | 2,793 | 2000 | (A&C) | ||||||||||||||||||||||||||||
Woodland Park Estates | Eugene, OR | 1,811 | 1,592 | 14,398 | — | 1,138 | 1,592 | 15,536 | 17,128 | 8,346 | 1998 | (A) | |||||||||||||||||||||||||||||
Woods Edge | West Lafayette, IN | C | 100 | 2,600 | 3 | 10,592 | 103 | 13,192 | 13,295 | 6,588 | 1985 | (A) | |||||||||||||||||||||||||||||
Woodside Terrace | Holland, OH | B | 1,064 | 9,625 | (1 | ) | 6,195 | 1,063 | 15,820 | 16,883 | 7,408 | 1997 | (A) | ||||||||||||||||||||||||||||
Worthington Arms | Lewis Center, OH | B | 376 | 2,624 | — | 2,912 | 376 | 5,536 | 5,912 | 2,871 | 1990 | (A) | |||||||||||||||||||||||||||||
$ | 325,135 | $ | 2,044,542 | $ | 8,208 | $ | 986,032 | $ | 333,343 | $ | 3,030,574 | $ | 3,363,917 | $ | 795,753 | ||||||||||||||||||||||||||
A These communities collateralize $158.5 million of secured debt. | |||||||||||||||||||||||||||||||||||||||||
B These communities collateralize $308.1 million of secured debt. | |||||||||||||||||||||||||||||||||||||||||
C These communities support the borrowing base for our secured line of credit, which had no amount outstanding. | |||||||||||||||||||||||||||||||||||||||||
D These communities collateralize $109.4 million of secured debt. | |||||||||||||||||||||||||||||||||||||||||
E These communities collateralize $141.5 million of secured debt. | |||||||||||||||||||||||||||||||||||||||||
The change in investment property for the years ended December 31, 2014, 2013, and 2012 is as follows: | |||||||||||||||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 2,489,119 | $ | 2,177,305 | $ | 1,794,605 | |||||||||||||||||||||||||||||||||||
Community and land acquisitions, including immediate improvements | 798,827 | 192,660 | 302,487 | ||||||||||||||||||||||||||||||||||||||
Community expansion and development | 22,195 | 17,985 | 13,424 | ||||||||||||||||||||||||||||||||||||||
Improvements, other | 173,989 | 145,916 | 110,029 | ||||||||||||||||||||||||||||||||||||||
Asset impairment | (1,870 | ) | — | — | |||||||||||||||||||||||||||||||||||||
Dispositions and other | (118,343 | ) | (44,747 | ) | (43,240 | ) | |||||||||||||||||||||||||||||||||||
Ending balance | $ | 3,363,917 | $ | 2,489,119 | $ | 2,177,305 | |||||||||||||||||||||||||||||||||||
The change in accumulated depreciation for the years ended December 31, 2014, 2013, and 2012 is as follows: | |||||||||||||||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 734,067 | $ | 659,169 | $ | 597,999 | |||||||||||||||||||||||||||||||||||
Depreciation for the period | 121,103 | 96,499 | 80,124 | ||||||||||||||||||||||||||||||||||||||
Asset impairment | (1,033 | ) | — | — | |||||||||||||||||||||||||||||||||||||
Dispositions and other | (58,384 | ) | (21,601 | ) | (18,954 | ) | |||||||||||||||||||||||||||||||||||
Ending balance | $ | 795,753 | $ | 734,067 | $ | 659,169 | |||||||||||||||||||||||||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | |||||||||||||
Consolidation, Policy [Policy Text Block] | Principles of Consolidation | ||||||||||||
The accompanying financial statements include our accounts and all majority-owned and controlled subsidiaries, including entities in which we have a controlling interest or have been determined to be the primary beneficiary of a variable interest entity ("VIE"). All inter-company transactions have been eliminated in consolidation. Any subsidiaries in which we have an ownership percentage equal to or greater than 50%, but less than 100%, or consider a VIE, represent subsidiaries with a noncontrolling interest. The noncontrolling interests in our subsidiaries are allocated their proportionate share of the subsidiaries’ financial results. This allocation is recorded as the noncontrolling interest in our consolidated financial statements. | |||||||||||||
Use of Estimates, Policy [Policy Text Block] | Use of Estimates | ||||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions related to the reported amounts included in our consolidated financial statements and accompanying footnote disclosures. Actual results could differ from those estimates. | |||||||||||||
Reclassifications, Policy [Policy Text Block] | Reclassifications and Revisions | ||||||||||||
Certain reclassifications have been made to prior periods’ financial statements in order to conform to current period presentation. | |||||||||||||
In the fourth quarter of 2014, management identified that certain accruals related to real estate taxes, deferred revenue and utilities primarily associated with communities acquired prior to 2007 were incorrect. The cumulative reivison for the incorrect accruals approximated $13.5 million. | |||||||||||||
Pursuant to the guidance of Staff Accounting Bulletin (“SAB”) No. 99, Materiality, the Company concluded that the errors were not material to any of its prior period financial statements. Although the errors were immaterial to prior periods, the prior period financial statements were revised, in accordance with SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, due to the significance of the out-of-period correction in the fourth quarter of 2014. | |||||||||||||
1 | Summary of Significant Accounting Policies, continued | ||||||||||||
A reconciliation of the effects of the revisions to the previously reported balance sheet at December 31, 2013 follows: | |||||||||||||
31-Dec-13 | |||||||||||||
As reported | Revision | As revised | |||||||||||
(in thousands) | |||||||||||||
Notes and other receivables, net | $ | 164,685 | $ | (2,544 | ) | $ | 162,141 | ||||||
Other assets, net | $ | 68,936 | $ | (1,788 | ) | $ | 67,148 | ||||||
Total assets | $ | 1,999,236 | $ | (4,332 | ) | $ | 1,994,904 | ||||||
Other liabilities | $ | 109,342 | $ | 9,201 | $ | 118,543 | |||||||
Total liabilities | $ | 1,602,162 | $ | 9,201 | $ | 1,611,363 | |||||||
Distributions in excess of accumulated earnings | $ | (761,112 | ) | $ | (12,189 | ) | $ | (773,301 | ) | ||||
Common and preferred OP units | $ | 17,104 | $ | (1,344 | ) | $ | 15,760 | ||||||
Total stockholders' equity | $ | 397,074 | $ | (13,533 | ) | $ | 383,541 | ||||||
A reconciliation of the effects of the revisions to the previously reported statement of stockholders' equity (deficit) for the years ending December 31, 2013, 2012 and 2011 follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(in thousands) | |||||||||||||
Distributions in excess of accumulated earnings, as reported | $ | (761,112 | ) | $ | (683,734 | ) | $ | (617,953 | ) | ||||
Prior period revision | (12,189 | ) | (12,189 | ) | (12,189 | ) | |||||||
Distributions in excess of accumulated earnings, revised | $ | (773,301 | ) | $ | (695,923 | ) | $ | (630,142 | ) | ||||
Noncontrolling interests, as reported | $ | 16,567 | $ | 20,468 | $ | 25,954 | |||||||
Prior period revision | (1,344 | ) | (1,344 | ) | (1,344 | ) | |||||||
Noncontrolling interests, revised | $ | 15,223 | $ | 19,124 | $ | 24,610 | |||||||
Investment property, Policy [Policy Text Block] | Investment Property | ||||||||||||
Investment property is recorded at cost, less accumulated depreciation. We review the carrying value of long-lived assets to be held and used for impairment quarterly or whenever events or changes in circumstances indicate a possible impairment.Our primary indicator for potential impairment is based on NOI trends period over period. Circumstances that may prompt a test of recoverability may include a significant decrease in the anticipated market price, an adverse change to the extent or manner in which an asset may be used or in its physical condition or other such events that may significantly change the value of the long-lived asset. An impairment loss is recognized when a long-lived asset’s carrying value is not recoverable and exceeds estimated fair value. We estimate the fair value of our long-lived assets based on discounted future cash flows and any potential disposition proceeds for a given asset. Forecasting cash flows requires management to make estimates and assumptions about such variables as the estimated holding period, rental rates, occupancy and operating expenses during the holding period, as well as disposition proceeds. Management uses its best judgment when developing these estimates and assumptions, but the development of the projected future cash flows is based on subjective variables. Future events could occur which would cause us to conclude that impairment indicators exist, and significant adverse changes in national, regional, or local market conditions or trends may cause us to change the estimates and assumptions used in our impairment analysis. The results of an impairment analysis could be material to our financial statements. | |||||||||||||
1 | Summary of Significant Accounting Policies, continued | ||||||||||||
We periodically receive offers from interested parties to purchase certain of our properties. These offers may be the result of an active program initiated by us to sell the property, or from an unsolicited offer to purchase the property. The typical sale process involves a significant negotiation and due diligence period between us and the potential purchaser. As the intent of this process is to determine if there are items that would cause the purchaser to be unwilling to purchase or we would be unwilling to sell, it is not unusual for such potential offers of sale/purchase to be withdrawn as such issues arise. We classify assets as “held for sale” when it is probable, in our opinion, that a sale transaction will be completed within one year. This typically occurs when all significant contingencies surrounding the closing have been resolved, which often corresponds with the closing date. | |||||||||||||
We allocate the purchase price of properties to net tangible and identified intangible assets acquired based on their fair values. In making estimates of fair values for purposes of allocating purchase price, we utilize an independent third party to value the net tangible and identified intangible assets in connection with the acquisition of the respective property. We provide historical and pro forma financial information obtained about each property, as well as any other information needed in order for the third party to ascertain the fair value of the tangible and intangible assets (including in-place leases) acquired. | |||||||||||||
Other Capitalized Costs, Policy [Policy Text Block] | Other Capitalized Costs | ||||||||||||
We capitalize certain costs incurred in connection with the development, redevelopment, capital enhancement and leasing of our properties. Management is required to use professional judgment in determining whether such costs meet the criteria for immediate expense or capitalization. The amounts are dependent on the volume and timing of such activities and the costs associated with such activities. Maintenance, repairs and minor improvements to properties are expensed when incurred. Renovations and improvements to properties are capitalized and depreciated over their estimated useful lives and construction costs related to the development of new community or expansion sites are capitalized until the property is substantially complete. Costs incurred to initially renovate pre-owned and repossessed homes that we acquire for our Rental Program are capitalized and costs incurred to refurbish the homes at turnover and repair the homes while occupied are expensed. Certain expenditures to dealers and residents related to obtaining lessees in our communities are capitalized and amortized over a seven year period based on the anticipated term of occupancy of a resident. Costs associated with implementing our computer systems are capitalized and amortized over the estimated useful lives of the related software and hardware. Costs incurred to obtain new financing are capitalized and amortized over the terms of the related loan agreement using the straight-line method (which approximates the effective interest method). | |||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents | ||||||||||||
We consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash and cash equivalents. The maximum amount of credit risk arising from cash deposits in excess of federally insured amounts was approximately $80.7 million and $5.7 million as of December 31, 2014 and 2013, respectively. From time to time, we may have cash deposits in excess of federally insured amounts. | |||||||||||||
Inventory, Policy [Text Block] | Inventory | ||||||||||||
Inventory of manufactured homes is stated at lower of specific cost or market based on the specific identification method. | |||||||||||||
Investments in Affiliates, Policy [Policy Text Block] | Investments in Affiliates | ||||||||||||
Investments in affiliates in which we do not have a controlling direct or indirect voting interest, but can exercise significant influence over the entity with respect to its operations and major decisions, are accounted for using the equity method of accounting. The carrying value of our investment is adjusted for our proportionate share of the affiliate’s net income or loss and reduced by distributions received. We review the carrying value of our investment in affiliates for other than temporary impairment whenever events or changes in circumstances indicate a possible impairment. Financial condition, operational performance, and other economic trends are some of the factors we consider when we evaluate the existence of impairment indicators. When we have a carrying value of zero for our investment, we suspend the equity method of accounting until such time that the affiliate’s net income equals or exceeds the share of net losses not recognized during the time in which the equity method of accounting was suspended. See Note 7 for additional information. | |||||||||||||
Notes and Other Receivables, Policy [Policy Text Block] | Notes and Other Receivables | ||||||||||||
We provide financing to purchasers of manufactured homes generally located in our communities. The notes are collateralized by the underlying manufactured home sold. Notes receivable include both installment loans retained by the Company as well as transferred loans that have not met the requirements for sale accounting which are presented herein as collateralized receivables (See Note 5 for additional information). For purposes of accounting policy, all notes receivable are considered one homogenous population, as the notes are typically underwritten using the same requirements and terms. Notes receivable are reported at their outstanding unpaid principal balance adjusted for an allowance for loan loss. Interest income is accrued based upon the unpaid principal balance of the loans. | |||||||||||||
Past due status of our notes receivable is determined based upon the contractual terms of the note. When a note receivable becomes 60 days delinquent, we stop accruing interest on the note receivable. The interest on nonaccrual loans is accounted for on the cash | |||||||||||||
basis until qualifying for return to accrual. Loans are returned to accrual when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. Loans on a nonaccrual status were immaterial at December 31, 2014 and 2013. The ability to collect our notes receivable is measured based on current and historical information and events. We consider numerous factors including: length of delinquency, estimated costs to lease or sell, and repossession history. Our experience supports a high recovery rate for notes receivable; however there is some degree of uncertainty about the recoverability of our investment in these notes receivable. We are generally able to recover our recorded investment in uncollectible notes receivable by repossessing the homes on the notes retained by us and repurchasing the homes on the collateralized receivables, and subsequently selling or leasing these homes to potential residents in our communities. We have established a loan loss reserve based on our estimated unrecoverable costs associated with repossessed/repurchased homes. We estimate our unrecoverable costs to be the repurchase price of the home collateralizing the note receivable plus repair and remarketing costs in excess of the estimated selling price of the home being repossessed. A historical average of this excess cost is calculated based on prior repossessions/repurchases and is applied to our estimated annual future repossessions to create the allowance for both installment and collateralized notes receivable. See Note 5 for additional information. | |||||||||||||
We evaluate the collectability of a loan based on our ability to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. We generally see that if the obligor is delinquent on the loan they are also delinquent on site rent. If the scheduled payment is delinquent more than five to seven days, dependent on state law, we begin the repossession and eviction process simultaneously. This process generally takes 30 to 45 days; due to the short time frame from delinquent loan to repossession we do not evaluate the note receivables for impairment. No loans were considered impaired as of December 31, 2014 and 2013. | |||||||||||||
We evaluate the credit quality of our notes receivable at the inception of the receivable. We consider the following factors in order to determine the credit quality of the applicant - rental payment history; home debt to income ratio; total debt to income ratio; length of employment; previous landlord references; and credit scores. | |||||||||||||
Other receivables are generally comprised of amounts due from residents for rent and related charges, home sale proceeds receivable from sales near year end and various other miscellaneous receivables. Accounts receivable from residents are typically due within 30 days and stated at amounts due from residents net of an allowance for doubtful accounts. Accounts outstanding longer than the contractual payment terms are considered past due. We evaluate the recoverability of our receivables whenever events occur or there are changes in circumstances such that management believes it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan and lease agreements. Receivables related to community rents are reserved when we believe that collection is less than probable, which is generally after a resident balance reaches 60 to 90 days past due | |||||||||||||
Restricted Cash, Policy [Policy Text Block] | Restricted cash consists of amounts held in deposit at a financial institution to collateralize derivative instruments in a liability position and deposits for tax, insurance and repair escrows held by lenders in accordance with certain debt agreements. At December 31, 2014 and 2013, $11.8 million and $9.4 million of restricted cash, respectively, was included as a component of Other assets on the consolidated balance sheets. | ||||||||||||
Identified Intangible Assets, Policy [Policy Text Block] | Identified Intangible Assets | ||||||||||||
The Company amortizes identified intangible assets that are determined to have finite lives over the period the assets are expected to contribute directly or indirectly to the future cash flows of the property or business. At December 31, 2014 and 2013, the carrying amounts of the identified intangible assets are included in Other assets on the consolidated balance sheets. See Note 6 for additional information on our intangible assets. | |||||||||||||
Deferred Tax Assets, Policy [Policy Text Block] | Deferred Tax Assets | ||||||||||||
We are subject to certain state taxes that are considered to be income taxes and have certain subsidiaries that are taxed as regular corporations. Deferred tax assets or liabilities are recognized for temporary differences between the tax basis of assets and liabilities and their carrying amounts in the financial statements and net operating loss carryforwards. Deferred tax assets and liabilities are measured using currently enacted tax rates. A valuation allowance is established if, based on the available evidence, it is considered more likely than not that some portion or all of the deferred tax assets will not be realized. See Note 13 for additional information. | |||||||||||||
Deferred Financing Costs, Policy [Policy Text Block] | Deferred Financing Costs | ||||||||||||
Deferred financing costs include fees and costs incurred to obtain long-term financing. The costs are amortized over the terms of the respective loans. Unamortized deferred financing costs are written off when debt is retired before the maturity date. Upon amendment of the line of credit or refinancing of mortgage debt, unamortized deferred financing costs are accounted for in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 470-50-40, Modifications and Extinguishments. At December 31, 2014 and 2013, deferred financing costs are included as a component of Other assets on the consolidated balance sheets. | |||||||||||||
Share-Based Compensation, Policy [Policy Text Block] | Share-Based Compensation | ||||||||||||
Share-based compensation cost for service vesting restricted stock awards is measured based on the closing share price of our common stock on the date of grant. Share-based compensation for restricted stock awards with performance conditions is measured based on an estimate of shares expected to vest. If it is not probable that the performance conditions will be satisfied, we do not recognize compensation expense. We measure the fair value of awards with performance conditions using the closing price of our common stock as of the grant date to calculate compensation cost. Each reporting period, we reevaluate our estimate of the number of shares expected to vest. We estimate the fair value of share-based compensation for restricted stock with market conditions using a Monte Carlo simulation. We recognize compensation cost ratably over each tranche of shares based on the fair value estimated by the model. | |||||||||||||
Share-based compensation cost for stock options is estimated at the grant date based on each option’s fair-value as calculated by the Binomial (lattice) option-pricing model. The Binomial (lattice) option-pricing model incorporates various assumptions including expected volatility, expected life, dividend yield, and interest rates. See Note 11 for additional information. | |||||||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments | ||||||||||||
Our financial instruments consist of cash and cash equivalents, accounts and notes receivable, accounts payable, derivative instruments, and debt. We utilize fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures, pursuant to FASB ASC 820, Fair Value Measurements and Disclosures. See Note 17 for additional information regarding the estimates and assumptions used to estimate the fair value of each class of financial instrument. | |||||||||||||
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition | ||||||||||||
Rental income attributable to site and home leases is recorded on a straight-line basis when earned from tenants. Leases entered into by tenants are generally for one year terms but may range from month-to-month to two years and are renewable by mutual agreement from us and the resident, or in some cases, as provided by state statute. Revenue from the sale of manufactured homes is recognized upon transfer of title at the closing of the sales transaction. Interest income on notes receivable is recorded on a level yield basis over the life of the notes. We report certain taxes collected from the resident and remitted to taxing authorities in revenue. These taxes include certain Florida property and fire taxes. | |||||||||||||
Advertising Cost, Policy [Policy Text Block] | Advertising Costs | ||||||||||||
Advertising costs are expensed as incurred. As of December 31, 2014, 2013 and 2012, we had advertising costs of $3.2 million, $2.9 million and $2.5 million, respectively. | |||||||||||||
Depreciation and Amortization, Policy [Policy Text Block] | Depreciation and Amortization | ||||||||||||
Depreciation and amortization are computed on a straight-line basis over the estimated useful lives of the assets. Useful lives are 30 years for land improvements and buildings, 10 years for rental homes, seven to 15 years for furniture, fixtures and equipment, and seven to 15 years for intangible assets. | |||||||||||||
Derivative Instruments and Hedging Activities, Policy [Policy Text Block] | Derivative Instruments and Hedging Activities | ||||||||||||
We do not enter into derivative instruments for speculative purposes. We adjust our balance sheet on a quarterly basis to reflect the current fair market value of our derivatives. For those hedges that qualify for cash flow hedge accounting, we adjust our balance sheet on a quarterly basis to reflect current fair market value of our derivatives. Changes in the fair value of derivatives are recorded in earnings or comprehensive income, as appropriate. The ineffective portion of the hedge is immediately recognized in earnings to the extent that the change in value of a derivative does not perfectly offset the change in value of the instrument being hedged. The effective portion of the hedge is recorded in accumulated other comprehensive income. We use standard market conventions to determine the fair values of derivative instruments, including the quoted market prices or quotes from brokers or dealers for the same or similar instruments. All methods of assessing fair value result in a general approximation of value and such value may never actually be realized. See Note 16 for additional information. Cash flows from derivative instruments are classified in the same category as the cash flows of the underlying hedged items, which are in the operating activities section of the consolidated statements of cash flows. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | A reconciliation of the effects of the revisions to the previously reported balance sheet at December 31, 2013 follows: | ||||||||||||
31-Dec-13 | |||||||||||||
As reported | Revision | As revised | |||||||||||
(in thousands) | |||||||||||||
Notes and other receivables, net | $ | 164,685 | $ | (2,544 | ) | $ | 162,141 | ||||||
Other assets, net | $ | 68,936 | $ | (1,788 | ) | $ | 67,148 | ||||||
Total assets | $ | 1,999,236 | $ | (4,332 | ) | $ | 1,994,904 | ||||||
Other liabilities | $ | 109,342 | $ | 9,201 | $ | 118,543 | |||||||
Total liabilities | $ | 1,602,162 | $ | 9,201 | $ | 1,611,363 | |||||||
Distributions in excess of accumulated earnings | $ | (761,112 | ) | $ | (12,189 | ) | $ | (773,301 | ) | ||||
Common and preferred OP units | $ | 17,104 | $ | (1,344 | ) | $ | 15,760 | ||||||
Total stockholders' equity | $ | 397,074 | $ | (13,533 | ) | $ | 383,541 | ||||||
Shareholders' Equity [Member] | |||||||||||||
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | A reconciliation of the effects of the revisions to the previously reported statement of stockholders' equity (deficit) for the years ending December 31, 2013, 2012 and 2011 follows: | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(in thousands) | |||||||||||||
Distributions in excess of accumulated earnings, as reported | $ | (761,112 | ) | $ | (683,734 | ) | $ | (617,953 | ) | ||||
Prior period revision | (12,189 | ) | (12,189 | ) | (12,189 | ) | |||||||
Distributions in excess of accumulated earnings, revised | $ | (773,301 | ) | $ | (695,923 | ) | $ | (630,142 | ) | ||||
Noncontrolling interests, as reported | $ | 16,567 | $ | 20,468 | $ | 25,954 | |||||||
Prior period revision | (1,344 | ) | (1,344 | ) | (1,344 | ) | |||||||
Noncontrolling interests, revised | $ | 15,223 | $ | 19,124 | $ | 24,610 | |||||||
Real_Estate_Acquisitions_and_D1
Real Estate Acquisitions and Dispositions (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Total 2013 Acquisitions [Domain] | |||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma financial information presents the results of our operations for the years ended December 31, 2013 and 2012 as if acquisitions completed in 2013 were acquired on January 1, 2012. The unaudited pro forma results reflect certain adjustments for items that are not expected to have a continuing impact, such as adjustments for transaction costs incurred, management fees and purchase accounting. The information presented below has been prepared for comparative purposes only and does not purport to be indicative of either future results of operations or the results of operations that would have actually occurred had the acquisitions been consummated on January 1, 2012 (in thousands, except per-share data). | ||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Total revenues | $ | 423,490 | $ | 392,862 | |||||||||||||||||||||||||||||
Net income attributable to Sun Communities, Inc. shareholders | $ | 16,352 | $ | 23,833 | |||||||||||||||||||||||||||||
Net income per share attributable to Sun Communities, Inc. shareholders - basic | $ | 0.47 | $ | 0.87 | |||||||||||||||||||||||||||||
Net income per share attributable to Sun Communities, Inc. shareholders - diluted | $ | 0.47 | $ | 0.87 | |||||||||||||||||||||||||||||
Total 2014 Acquisitions [Domain] | |||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma financial information presents the results of our operations for the years ended December 31, 2014 and 2013 as if the properties acquired during 2014 were acquired on January 1, 2013. The unaudited pro forma results reflect certain adjustments for items that are not expected to have a continuing impact, such as adjustments for transaction costs incurred, management fees and purchase accounting. The information presented below has been prepared for comparative purposes only and does not purport to be indicative of either future results of operations or the results of operations that would have actually occurred had the acquisitions been consummated on January 1, 2013 (in thousands, except per-share data). | ||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Total revenues | $ | 567,731 | $ | 539,020 | |||||||||||||||||||||||||||||
Net income attributable to Sun Communities, Inc. common stockholders | $ | 83,125 | $ | 60,985 | |||||||||||||||||||||||||||||
Net income per share attributable to Sun Communities, Inc. common stockholders - basic | $ | 2.01 | $ | 1.78 | |||||||||||||||||||||||||||||
Net income per share attributable to Sun Communities, Inc. common stockholders - diluted | $ | 1.99 | $ | 1.77 | |||||||||||||||||||||||||||||
Schedule of Revenue and Net Income from acquistions [Table Text Block] | The amount of revenue and net income included in the consolidated statements of operations for the years ended December 31, 2014, 2013 and 2012 for all acquisitions described above is set forth in the following table (in thousands): | ||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Revenue | $ | 42,258 | $ | 60,148 | $ | 38,557 | |||||||||||||||||||||||||||
Net income | $ | 9,214 | $ | 5,914 | $ | 290 | |||||||||||||||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following tables summarize the fair value of the assets acquired and liabilities assumed at the acquisition dates and the consideration paid for other acquisitions completed in 2014 (in thousands): | ||||||||||||||||||||||||||||||||
At Acquisition Date | Wine Country | Castaways | Seashore | Driftwood | Saco (1) | Lake Rudolph(1) | Oak Creek (1) | Total | |||||||||||||||||||||||||
Investment in property | $ | 13,250 | $ | 36,597 | $ | 24,258 | $ | 31,301 | $ | 4,366 | $ | 30,454 | $ | 15,944 | $ | 156,170 | |||||||||||||||||
In-place leases and other intangible assets | — | — | 500 | 790 | — | — | 390 | 1,680 | |||||||||||||||||||||||||
Other assets | 9 | 2 | 12 | 4 | 31 | 64 | 236 | 358 | |||||||||||||||||||||||||
Below market lease and franchise intangibles | — | — | — | — | (6 | ) | — | (140 | ) | (146 | ) | ||||||||||||||||||||||
Other liabilities | (60 | ) | (497 | ) | (1,188 | ) | (836 | ) | (258 | ) | (1,417 | ) | (57 | ) | (4,313 | ) | |||||||||||||||||
Assumed debt | — | — | — | — | — | — | (10,358 | ) | (10,358 | ) | |||||||||||||||||||||||
Total identifiable assets and liabilities assumed | $ | 13,199 | $ | 36,102 | $ | 23,582 | $ | 31,259 | $ | 4,133 | $ | 29,101 | $ | 6,015 | $ | 143,391 | |||||||||||||||||
Consideration | |||||||||||||||||||||||||||||||||
Cash consideration transferred | $ | 13,199 | $ | 36,102 | $ | 23,582 | $ | 31,259 | $ | 4,133 | $ | 29,101 | $ | 6,015 | $ | 143,391 | |||||||||||||||||
(1) The purchase price allocations for Saco, Lake Rudolph and Oak Creek are preliminary and may be adjusted as final costs and final valuations are determined. | |||||||||||||||||||||||||||||||||
Green Courte [Member] | |||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||
Schedule of Revenue and Net Income from acquistions [Table Text Block] | The amount of revenue and net income included in the consolidated statements of operations related to the Green Courte properties for the year ended December 31, 2014 is set forth in the following table (in thousands): | ||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||||||
Revenue | $ | 6,515 | |||||||||||||||||||||||||||||||
Net income | $ | (6,744 | ) | ||||||||||||||||||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following tables summarize the fair value of the assets acquired and liabilities assumed at the acquisition dates and the consideration paid (in thousands): | ||||||||||||||||||||||||||||||||
First Closing | Second Closing | ||||||||||||||||||||||||||||||||
At Acquisition Date | November 26, 2014 (1) | January 6, 2015 (1) | Total | ||||||||||||||||||||||||||||||
Investment in property | $ | 656,965 | $ | 818,530 | $ | 1,475,495 | |||||||||||||||||||||||||||
Notes receivable | 5,189 | 964 | 6,153 | ||||||||||||||||||||||||||||||
Other (liabilities) assets | (4,221 | ) | 4,221 | — | |||||||||||||||||||||||||||||
In-place leases and other intangible assets | 12,870 | 15,460 | 28,330 | ||||||||||||||||||||||||||||||
Below market lease intangible | (10,820 | ) | (54,580 | ) | (65,400 | ) | |||||||||||||||||||||||||||
Assumed debt | (199,300 | ) | (171,300 | ) | (370,600 | ) | |||||||||||||||||||||||||||
Total identifiable assets and liabilities assumed | $ | 460,683 | $ | 613,295 | $ | 1,073,978 | |||||||||||||||||||||||||||
Consideration | |||||||||||||||||||||||||||||||||
Common OP units (2) | $ | 24,064 | $ | — | $ | 24,064 | |||||||||||||||||||||||||||
Series A-4 preferred OP units (3) | 18,852 | 1,000 | 19,852 | ||||||||||||||||||||||||||||||
Common stock | 20,257 | 258,918 | 279,175 | ||||||||||||||||||||||||||||||
Series A-4 Preferred Stock | 13,610 | 175,417 | 189,027 | ||||||||||||||||||||||||||||||
Consideration from new mortgages | 100,700 | 120,960 | 221,660 | ||||||||||||||||||||||||||||||
Cash consideration transferred | 283,200 | 57,000 | 340,200 | ||||||||||||||||||||||||||||||
Total consideration transferred | $ | 460,683 | $ | 613,295 | $ | 1,073,978 | |||||||||||||||||||||||||||
(1) The purchase price allocations for the first and second closings are preliminary and may be adjusted as final costs and final valuations are determined. | |||||||||||||||||||||||||||||||||
(2) To estimate the fair value of the common OP units at the valuation date, we utilized the market approach, observing public price of our common stock. | |||||||||||||||||||||||||||||||||
(3) To estimate the fair value of the Series A-4 preferred OP units at the valuation date, we utilized a Binomial Lattice Method of the income approach. | |||||||||||||||||||||||||||||||||
Acquisitions - 2013 [Member] | |||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the amounts of the assets acquired and liabilities assumed recognized at the acquisition dates and the consideration paid for the 2013 acquisitions (in thousands): | ||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
At Acquisition Date | Morgan RV Properties | Jellystone | Big Timber Lake | Camelot Villa | Jellystone at Birchwood | Vines | Total | ||||||||||||||||||||||||||
Investment in property | $ | 109,122 | $ | 9,754 | $ | 21,898 | $ | 22,121 | $ | 6,087 | $ | 8,000 | $ | 176,982 | |||||||||||||||||||
Inventory of manufactured homes | — | — | — | 2,324 | — | — | 2,324 | ||||||||||||||||||||||||||
Notes and other receivables | — | — | — | 852 | — | — | 852 | ||||||||||||||||||||||||||
In-place leases and other intangible assets | 2,940 | 390 | 580 | 610 | 450 | — | 4,970 | ||||||||||||||||||||||||||
Other assets | 157 | 7 | 48 | 84 | 12 | 1 | 309 | ||||||||||||||||||||||||||
Below market leases | — | — | (3,490 | ) | (240 | ) | — | — | (3,730 | ) | |||||||||||||||||||||||
Other liabilities | (3,697 | ) | (930 | ) | (1,157 | ) | (546 | ) | (293 | ) | (4 | ) | (6,627 | ) | |||||||||||||||||||
Total identifiable assets and liabilities assumed | $ | 108,522 | $ | 9,221 | $ | 17,879 | $ | 25,205 | $ | 6,256 | $ | 7,997 | $ | 175,080 | |||||||||||||||||||
Consideration | |||||||||||||||||||||||||||||||||
Cash | $ | 55,618 | $ | 9,221 | $ | 17,879 | $ | 25,205 | $ | 6,256 | $ | 7,997 | $ | 122,176 | |||||||||||||||||||
Series A-3 preferred OP units (1) | 3,463 | — | — | — | — | — | 3,463 | ||||||||||||||||||||||||||
Extinguishment of note receivable | 49,441 | — | — | — | — | — | 49,441 | ||||||||||||||||||||||||||
Fair value of total consideration transferred | $ | 108,522 | $ | 9,221 | $ | 17,879 | $ | 25,205 | $ | 6,256 | $ | 7,997 | $ | 175,080 | |||||||||||||||||||
(1) Included in the total consideration paid for Morgan RV Properties was the issuance of 40,268 Series A-3 preferred OP units. In order to estimate the fair value of these units at the valuation date, we utilized the income approach using estimated future discounted cash flows. |
Investment_Property_Tables
Investment Property (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Real Estate Investment Property, Net [Abstract] | |||||||||
Real estate, investment property [Table Text Block] | The following table sets forth certain information regarding investment property (in thousands): | ||||||||
December 31, 2014 | December 31, 2013 | ||||||||
Land | $ | 309,386 | $ | 194,404 | |||||
Land improvements and buildings | 2,471,436 | 1,806,546 | |||||||
Rental homes and improvements | 477,554 | 393,562 | |||||||
Furniture, fixtures, and equipment | 81,586 | 65,086 | |||||||
Land held for future development | 23,955 | 29,521 | |||||||
Investment property | 3,363,917 | 2,489,119 | |||||||
Accumulated depreciation | (795,753 | ) | (734,067 | ) | |||||
Investment property, net | $ | 2,568,164 | $ | 1,755,052 | |||||
Transfers_Of_Financial_Assets_
Transfers Of Financial Assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Transfers and Servicing [Abstract] | ||||||||
Repurchase price percentage [Table Text Block] | In general, the repurchase price is determined as follows: | |||||||
Number of Payments | Repurchase % | |||||||
Less than or equal to 15 | 100 | % | ||||||
Greater than 15 but less than 64 | 90 | % | ||||||
Equal to or greater than 64 but less than 120 | 65 | % | ||||||
120 or more | 50 | % | ||||||
Schedule of collateralized loans [Table Text Block] | The change in the aggregate gross principal balance of the collateralized receivables is as follows (in thousands): | |||||||
Year Ended | ||||||||
December 31, 2014 | December 31, 2013 | |||||||
Beginning balance | $ | 110,510 | $ | 94,409 | ||||
Financed sales of manufactured homes | 34,952 | 34,007 | ||||||
Principal payments and payoffs from our customers | (11,845 | ) | (7,930 | ) | ||||
Principal reduction from repurchased homes | (9,967 | ) | (9,976 | ) | ||||
Total activity | 13,140 | 16,101 | ||||||
Ending balance | $ | 123,650 | $ | 110,510 | ||||
Notes_And_Other_Receivables_Ta
Notes And Other Receivables (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Long-term Notes and Loans, by Type, Current and Noncurrent [Abstract] | |||||||||
Schedule of notes and other receivables [Table Text Block] | The following table sets forth certain information regarding notes and other receivables (in thousands): | ||||||||
31-Dec-14 | 31-Dec-13 | ||||||||
Installment notes receivable on manufactured homes, net | $ | 25,884 | $ | 25,471 | |||||
Collateralized receivables, net (see Note 4) | 122,962 | 109,821 | |||||||
Other receivables, net | 26,011 | 29,393 | |||||||
Total notes and other receivables, net | $ | 174,857 | $ | 164,685 | |||||
Schedule of Installment Notes Receivable [Table Text Block] | The change in the aggregate gross principal balance of the installment notes is as follows (in thousands): | ||||||||
Year Ended | |||||||||
31-Dec-14 | 31-Dec-13 | ||||||||
Beginning balance | $ | 25,575 | $ | 22,019 | |||||
Financed sales of manufactured homes | 946 | 7,798 | |||||||
Acquired notes (see Note 2) | 5,189 | 852 | |||||||
Principal payments and payoffs from our customers | (4,088 | ) | (3,838 | ) | |||||
Principal reduction from repossessed homes | (1,598 | ) | (1,256 | ) | |||||
Total activity | 449 | 3,556 | |||||||
Ending balance | $ | 26,024 | $ | 25,575 | |||||
Allowance for collateralized and installment notes receivable [Table Text Block] | The following table sets forth the allowance for losses for collateralized and installment notes receivable as of December 31, 2014 and December 31, 2013 (in thousands): | ||||||||
Year Ended | |||||||||
31-Dec-14 | 31-Dec-13 | ||||||||
Beginning balance | $ | (793 | ) | $ | (697 | ) | |||
Lower of cost or market write-downs | 280 | 421 | |||||||
Increase to reserve balance | (316 | ) | (517 | ) | |||||
Total activity | (36 | ) | (96 | ) | |||||
Ending balance | $ | (828 | ) | $ | (793 | ) |
Intangibles_Schedule_of_Intang
Intangibles Schedule of Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Finite-Lived Intangible Assets [Line Items] | |||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The accumulated amortization and gross carrying amounts are as follows (in thousands): | ||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||
Intangible Asset | Useful Life | Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | ||||||||||||||||
In-place leases | 7 years | $ | 41,511 | $ | (12,107 | ) | $ | 26,961 | $ | (8,239 | ) | ||||||||||
Franchise fees | 15 years | 764 | (106 | ) | 770 | (29 | ) | ||||||||||||||
Total | $ | 42,275 | $ | (12,213 | ) | $ | 27,731 | $ | (8,268 | ) | |||||||||||
Schedule of Intangible Assets Amortization Expense [Table Text Block] | The aggregate net amortization expenses related to the intangible assets are as follows (in thousands): | ||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Intangible Asset | 2014 | 2013 | 2012 | ||||||||||||||||||
In-place leases | $ | 3,867 | $ | 3,297 | $ | 1,657 | |||||||||||||||
Franchise fees | 77 | 60 | — | ||||||||||||||||||
Total | $ | 3,944 | $ | 3,357 | $ | 1,657 | |||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | We anticipate the amortization expense for the existing intangible assets to be as follows for the next five years (in thousands): | ||||||||||||||||||||
Year | |||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | |||||||||||||||||
Estimated expense | $ | 5,564 | $ | 5,564 | $ | 5,690 | $ | 4,902 | $ | 3,896 | |||||||||||
Investment_In_Affiliates_Table
Investment In Affiliates (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Equity Method Investments and Joint Ventures [Abstract] | |||||||||
Schedule of Equity Method Investments [Table Text Block] | The following table sets forth certain summarized financial information for Origen, which was determined to be a significant subsidiary in2013 and 2012 (in thousands): | ||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Revenues | $ | 49,775 | $ | 64,838 | |||||
Expenses | (51,912 | ) | (66,215 | ) | |||||
Net loss | $ | (2,137 | ) | $ | (1,377 | ) | |||
31-Dec-13 | |||||||||
ASSETS | |||||||||
Loans receivable | $ | 463,254 | |||||||
Other assets | 15,529 | ||||||||
Total assets | $ | 478,783 | |||||||
LIABILITIES | |||||||||
Warehouse and securitization financing | $ | 423,369 | |||||||
Other liabilities | 38,109 | ||||||||
Total liabilities | $ | 461,478 | |||||||
Consolidated_Variable_Interest1
Consolidated Variable Interest Entities Consolidated Variable Interest Entities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
DisclosureofVariableInterestEntities [Abstract] | ||||||||
Schedule of Variable Interest Entities [Table Text Block] | Included in our consolidated financial statements after appropriate eliminations were amounts related to the VIEs at December 31, 2014 and December 31, 2013 as follows (in thousands): | |||||||
December 31, 2014 | December 31, 2013 | |||||||
ASSETS | ||||||||
Investment property, net | $ | 94,230 | $ | 56,805 | ||||
Other assets | 4,400 | 3,926 | ||||||
Total Assets | $ | 98,630 | $ | 60,731 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Debt | $ | 65,849 | $ | 45,209 | ||||
Other liabilities | 10,442 | 6,564 | ||||||
Noncontrolling interests | (416 | ) | (537 | ) | ||||
Total Liabilities and Stockholders' Equity | $ | 75,875 | $ | 51,236 | ||||
Debt_And_Lines_Of_Credit_Table
Debt And Lines Of Credit (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||
Schedule of debt and lines of credit [Table Text Block] | The following table sets forth certain information regarding debt (in thousands): | |||||||||||||||||||||||||||
Principal | Weighted Average | Weighted Average | ||||||||||||||||||||||||||
Outstanding | Years to Maturity | Interest Rates | ||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | December 31, 2014 | December 31, 2013 | December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Collateralized term loans - FMNA | $ | 492,800 | $ | 440,790 | 7.1 | 7.7 | 4 | % | 3.8 | % | ||||||||||||||||||
Collateralized term loans - FMCC | 152,462 | — | 9.9 | — | 4 | % | — | % | ||||||||||||||||||||
Collateralized term loans - Life Companies | 204,638 | 2,489 | 10.9 | 3.3 | 4.3 | % | 8 | % | ||||||||||||||||||||
Collateralized term loans - CMBS | 806,840 | 710,626 | 5.4 | 5.9 | 5.3 | % | 5.3 | % | ||||||||||||||||||||
Preferred OP Units | 45,903 | 47,022 | 6.8 | 7.6 | 6.9 | % | 6.9 | % | ||||||||||||||||||||
Secured Borrowing | 123,650 | 110,510 | 14.6 | 13.5 | 10.4 | % | 10.6 | % | ||||||||||||||||||||
Total debt | $ | 1,826,293 | $ | 1,311,437 | 7.5 | 7.2 | 5.1 | % | 5.3 | % | ||||||||||||||||||
Maturities and Amortization of debt and lines of credit [Table Text Block] | As of December 31, 2014, the total of maturities and amortization of our debt (excluding premiums and discounts) and lines of credit during the next five years are as follows (in thousands): | |||||||||||||||||||||||||||
Maturities and Amortization By Year | ||||||||||||||||||||||||||||
Total Due | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | ||||||||||||||||||||||
Lines of credit | $ | 5,794 | $ | 5,794 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Mortgage loans payable: | ||||||||||||||||||||||||||||
Maturities | 1,410,652 | 24,810 | 267,863 | 92,289 | 38,315 | 16,508 | 970,867 | |||||||||||||||||||||
Principal amortization | 227,887 | 24,093 | 23,804 | 23,325 | 23,263 | 23,670 | 109,732 | |||||||||||||||||||||
Preferred OP units | 45,903 | 3,670 | 7,570 | — | — | — | 34,663 | |||||||||||||||||||||
Secured borrowing | 123,650 | 5,167 | 5,715 | 6,258 | 6,802 | 7,362 | 92,346 | |||||||||||||||||||||
Total | $ | 1,813,886 | $ | 63,534 | $ | 304,952 | $ | 121,872 | $ | 68,380 | $ | 47,540 | $ | 1,207,608 | ||||||||||||||
ShareBased_Compensation_Tables
Share-Based Compensation Tables (Tables) | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Share-based Compensation [Abstract] | |||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes our option activity during the years ended December 31, 2014, 2013 and 2012: | ||||||
Number of | Weighted | ||||||
Options | Average | ||||||
Exercise Price | |||||||
(per common share) | |||||||
Options outstanding at January 1, 2012 | 77,086 | $ | 29.64 | ||||
Granted | — | $ | — | ||||
Exercised | (16,256 | ) | $ | 30.12 | |||
Forfeited or expired | (4,880 | ) | $ | 33.16 | |||
Options outstanding at December 31, 2012 | 55,950 | $ | 29.19 | ||||
Granted | — | $ | — | ||||
Exercised | (9,700 | ) | $ | 21.67 | |||
Forfeited or expired | — | $ | — | ||||
Options outstanding at December 31, 2013 | 46,250 | $ | 30.77 | ||||
Granted | — | $ | — | ||||
Exercised | (12,250 | ) | $ | 33.4 | |||
Forfeited or expired | (1,500 | ) | $ | 35.44 | |||
Options outstanding at December 31, 2014 | 32,500 | $ | 29.56 | ||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The weighted average fair value of the options issued is estimated on the date of the grant using the Binomial (lattice) option pricing model | ||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes our restricted stock activity for the years ended December 31, 2014, 2013 and 2012: | ||||||
Number of Shares | Weighted Average Grant Date Fair Value | ||||||
Unvested restricted shares at January 1, 2012 | 275,871 | $ | 28.93 | ||||
Granted | 44,600 | $ | 40.93 | ||||
Vested | (8,750 | ) | $ | 19.92 | |||
Forfeited | (1,214 | ) | $ | 37.04 | |||
Unvested restricted shares at December 31, 2012 | 310,507 | $ | 30.88 | ||||
Granted | 371,300 | $ | 47.19 | ||||
Vested | (37,291 | ) | $ | 16.87 | |||
Forfeited | (12,560 | ) | $ | 38.47 | |||
Unvested restricted shares at December 31, 2013 | 631,956 | $ | 41.14 | ||||
Granted | 117,250 | $ | 49.97 | ||||
Vested | (55,488 | ) | $ | 25.57 | |||
Forfeited | (4,975 | ) | $ | 38.45 | |||
Unvested restricted shares at December 31, 2014 | 688,743 | $ | 43.87 | ||||
Schedule of Other Share-based Compensation, Activity [Table Text Block] | |||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | A presentation of segment financial information is summarized as follows (in thousands): | |||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||
Real Property Operations | Home Sales and Home Rentals | Consolidated | ||||||||||||||||||||||
Revenues | $ | 357,793 | $ | 93,167 | $ | 450,960 | ||||||||||||||||||
Operating expenses/Cost of home sales | 125,315 | 63,826 | 189,141 | |||||||||||||||||||||
Net operating income/Gross profit | 232,478 | 29,341 | 261,819 | |||||||||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||||||||||||
Ancillary, interest and other income, net | 20,715 | — | 20,715 | |||||||||||||||||||||
General and administrative | (31,769 | ) | (10,853 | ) | (42,622 | ) | ||||||||||||||||||
Acquisition related costs | (18,251 | ) | (8 | ) | (18,259 | ) | ||||||||||||||||||
Depreciation and amortization | (88,695 | ) | (45,031 | ) | (133,726 | ) | ||||||||||||||||||
Asset impairment charge | (837 | ) | — | (837 | ) | |||||||||||||||||||
Interest | (73,752 | ) | (19 | ) | (73,771 | ) | ||||||||||||||||||
Interest on mandatorily redeemable debt | (3,210 | ) | — | (3,210 | ) | |||||||||||||||||||
Gain on disposition of properties | 17,447 | 207 | 17,654 | |||||||||||||||||||||
Gain on settlement | 4,452 | — | 4,452 | |||||||||||||||||||||
Distributions from affiliate | 1,200 | — | 1,200 | |||||||||||||||||||||
Provision for state income taxes | (219 | ) | — | (219 | ) | |||||||||||||||||||
Net income (loss) | 59,559 | (26,363 | ) | 33,196 | ||||||||||||||||||||
Less: Preferred return to Series A-1 preferred OP units | 2,654 | — | 2,654 | |||||||||||||||||||||
Less: Preferred return to Series A-3 preferred OP units | 181 | — | 181 | |||||||||||||||||||||
Less: Preferred return to Series A-4 preferred OP units | 100 | — | 100 | |||||||||||||||||||||
Less: Amounts attributable to noncontrolling interests | 3,698 | (1,946 | ) | 1,752 | ||||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. | 52,926 | (24,417 | ) | 28,509 | ||||||||||||||||||||
Less: Preferred stock distributions | 6,133 | — | 6,133 | |||||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. common stockholders | $ | 46,793 | $ | (24,417 | ) | $ | 22,376 | |||||||||||||||||
12. Segment Reporting, continued | ||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||
Real Property Operations | Home Sales and Home Rentals | Consolidated | ||||||||||||||||||||||
Revenues | $ | 313,097 | $ | 87,352 | $ | 400,449 | ||||||||||||||||||
Operating expenses/Cost of home sales | 109,921 | 60,732 | 170,653 | |||||||||||||||||||||
Net operating income/Gross profit | 203,176 | 26,620 | 229,796 | |||||||||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||||||||||||
Ancillary, interest and other income, net | 14,773 | — | 14,773 | |||||||||||||||||||||
General and administrative | (25,941 | ) | (9,913 | ) | (35,854 | ) | ||||||||||||||||||
Acquisition related costs | (3,928 | ) | — | (3,928 | ) | |||||||||||||||||||
Depreciation and amortization | (73,729 | ) | (36,349 | ) | (110,078 | ) | ||||||||||||||||||
Interest expense | (73,001 | ) | (338 | ) | (73,339 | ) | ||||||||||||||||||
Interest on mandatorily redeemable debt | (3,238 | ) | — | (3,238 | ) | |||||||||||||||||||
Distributions from affiliate | 2,250 | — | 2,250 | |||||||||||||||||||||
Provision for state income taxes | (234 | ) | — | (234 | ) | |||||||||||||||||||
Net income (loss) | 40,128 | (19,980 | ) | 20,148 | ||||||||||||||||||||
Less: Preferred return to Series A-1 preferred OP units | 2,598 | — | 2,598 | |||||||||||||||||||||
Less: Preferred return to Series A-3 preferred OP units | 166 | — | 166 | |||||||||||||||||||||
Less: Amounts attributable to noncontrolling interests | 2,450 | (1,732 | ) | 718 | ||||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. | 34,914 | (18,248 | ) | 16,666 | ||||||||||||||||||||
Less: Preferred stock distributions | 6,056 | — | 6,056 | |||||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. common stockholders | $ | 28,858 | $ | (18,248 | ) | $ | 10,610 | |||||||||||||||||
12. Segment Reporting, continued | ||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||
Real Property Operations | Home Sales and Home Rentals | Consolidated | ||||||||||||||||||||||
Revenues | $ | 255,761 | $ | 71,736 | $ | 327,497 | ||||||||||||||||||
Operating expenses/Cost of home sales | 88,046 | 53,059 | 141,105 | |||||||||||||||||||||
Net operating income/Gross profit | 167,715 | 18,677 | 186,392 | |||||||||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||||||||||||
Ancillary, interest and other income, net | 11,455 | — | 11,455 | |||||||||||||||||||||
General and administrative | (20,037 | ) | (8,316 | ) | (28,353 | ) | ||||||||||||||||||
Acquisition related costs | (4,296 | ) | — | (4,296 | ) | |||||||||||||||||||
Depreciation and amortization | (61,039 | ) | (28,635 | ) | (89,674 | ) | ||||||||||||||||||
Interest | (67,756 | ) | (103 | ) | (67,859 | ) | ||||||||||||||||||
Interest on mandatorily redeemable debt | (3,321 | ) | — | (3,321 | ) | |||||||||||||||||||
Distributions from affiliate | 3,900 | — | 3,900 | |||||||||||||||||||||
Provision for state income taxes | (249 | ) | — | (249 | ) | |||||||||||||||||||
Net income (loss) | 26,372 | (18,377 | ) | 7,995 | ||||||||||||||||||||
Less: Preferred return to Series A-1 preferred OP units | 2,329 | — | 2,329 | |||||||||||||||||||||
Less: Amounts attributable to noncontrolling interests | 1,640 | (1,958 | ) | (318 | ) | |||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. | 22,403 | (16,419 | ) | 5,984 | ||||||||||||||||||||
Less: Preferred stock distributions | 1,026 | — | 1,026 | |||||||||||||||||||||
Net income (loss) attributable to Sun Communities, Inc. common stockholders | $ | 21,377 | $ | (16,419 | ) | $ | 4,958 | |||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Real Property Operations | Home Sales and Home Rentals | Consolidated | Real Property Operations | Home Sales and Home Rentals | Consolidated | |||||||||||||||||||
Identifiable assets: | ||||||||||||||||||||||||
Investment property, net | $ | 2,207,526 | $ | 360,638 | $ | 2,568,164 | $ | 1,460,628 | $ | 294,424 | $ | 1,755,052 | ||||||||||||
Cash and cash equivalents | 81,864 | 1,595 | 83,459 | 5,336 | (583 | ) | 4,753 | |||||||||||||||||
Inventory of manufactured homes | — | 8,860 | 8,860 | — | 5,810 | 5,810 | ||||||||||||||||||
Notes and other receivables, net | 163,713 | 11,144 | 174,857 | 151,980 | 10,161 | 162,141 | ||||||||||||||||||
Other assets | 97,485 | 4,867 | 102,352 | 62,554 | 4,594 | 67,148 | ||||||||||||||||||
Total assets | $ | 2,550,588 | $ | 387,104 | $ | 2,937,692 | $ | 1,680,498 | $ | 314,406 | $ | 1,994,904 | ||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||
Schedule of Tax Characterization of Dividends [Table Text Block] | For the years ended December 31, 2014, 2013, and 2012, distributions paid per share were taxable as follows (unaudited): | ||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Amount | Percentage | Amount | Percentage | Amount | Percentage | ||||||||||||||||
Ordinary income | $ | 0.82 | 31.7 | % | $ | 0.87 | 34.6 | % | $ | 0.92 | 48.7 | % | |||||||||
Capital gain | 0.64 | 24.6 | % | — | — | % | — | — | % | ||||||||||||
Return of capital | 1.14 | 43.7 | % | 1.65 | 65.4 | % | 0.97 | 51.3 | % | ||||||||||||
Total distributions declared | $ | 2.6 | 100 | % | $ | 2.52 | 100 | % | $ | 1.89 | 100 | % | |||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The deferred tax assets included in the consolidated balance sheets are comprised of the following tax effects of temporary differences (in thousands): | ||||||||||||||||||||
As of December 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||
Net operating loss carryforwards | $ | 26,214 | $ | 24,237 | |||||||||||||||||
Real estate assets | 29,092 | 23,999 | |||||||||||||||||||
Amortization of intangibles | (128 | ) | (128 | ) | |||||||||||||||||
Gross deferred tax assets | 55,178 | 48,108 | |||||||||||||||||||
Valuation allowance | (54,178 | ) | (47,108 | ) | |||||||||||||||||
Net deferred tax assets | $ | 1,000 | $ | 1,000 | |||||||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | Computations of basic and diluted earnings per share were as follows (in thousands, except per share data): | ||||||||||||
Year Ended December 31, | |||||||||||||
Numerator | 2014 | 2013 | 2012 | ||||||||||
Net income attributable to common stockholders | $ | 22,376 | $ | 10,610 | $ | 4,958 | |||||||
Allocation of income to restricted stock awards | (127 | ) | (144 | ) | 58 | ||||||||
Net income attributable to common stockholders after allocation | $ | 22,249 | $ | 10,466 | $ | 5,016 | |||||||
Allocation of income to restricted stock awards | 127 | 144 | (58 | ) | |||||||||
Amounts attributable to Series A-4 Preferred Stock | 76 | — | — | ||||||||||
Diluted earnings: net income attributable to common stockholders after allocation | $ | 22,452 | $ | 10,610 | $ | 4,958 | |||||||
Denominator | |||||||||||||
Weighted average common shares outstanding | 41,337 | 34,228 | 26,970 | ||||||||||
Add: dilutive stock options | 16 | 15 | 17 | ||||||||||
Add: dilutive restricted stock | 237 | 167 | 138 | ||||||||||
Add: dilutive Series A-4 Preferred Stock | 215 | — | — | ||||||||||
Diluted weighted average common shares and securities | 41,805 | 34,410 | 27,125 | ||||||||||
Earnings per share available to common stockholders: | |||||||||||||
Basic | $ | 0.54 | $ | 0.31 | $ | 0.19 | |||||||
Diluted | $ | 0.54 | $ | 0.31 | $ | 0.18 | |||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | the years ended December 31, 2014, 2013 and 2012 (amounts in thousands): | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Common OP units | 2,561 | 2,069 | 2,071 | ||||||||||
Series A-1 preferred OP units | 429 | 455 | 455 | ||||||||||
Series A-3 preferred OP units | 40 | 40 | — | ||||||||||
Series A-4 preferred OP units | 669 | — | — | ||||||||||
Aspen preferred OP units | 1,284 | 1,325 | 1,325 | ||||||||||
Total securities | 4,983 | 3,889 | 3,851 | ||||||||||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | The following is a condensed summary of our unaudited quarterly results for years ended December 31, 2014 and 2013. Income (loss) per share for the year may not equal the sum of the fiscal quarters' income (loss) per share due to changes in basic and diluted shares outstanding. | ||||||||||||||||
Quarters | |||||||||||||||||
1st | 2nd | 3rd | 4th | ||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||
2014 | |||||||||||||||||
Total revenues | $ | 111,181 | $ | 115,387 | $ | 125,435 | $ | 119,672 | |||||||||
Total expenses | 100,651 | 108,993 | 112,655 | 139,267 | |||||||||||||
Income (loss) before income taxes and distributions from affiliate | $ | 10,530 | $ | 6,394 | $ | 12,780 | $ | (19,595 | ) | ||||||||
Distributions from affiliate (1) | $ | 400 | $ | 400 | $ | 400 | $ | — | |||||||||
Gain on disposition of properties, net (2) | $ | — | $ | 885 | $ | 13,631 | $ | 3,138 | |||||||||
Gain on settlement | $ | — | $ | — | $ | — | $ | 4,452 | |||||||||
Net income (loss) attributable to Sun Communities, Inc. common stockholders | $ | 7,846 | $ | 4,928 | $ | 22,671 | $ | (13,069 | ) | ||||||||
Earnings per share: | |||||||||||||||||
Basic | $ | 0.21 | $ | 0.12 | $ | 0.54 | $ | (0.27 | ) | ||||||||
Diluted | $ | 0.21 | $ | 0.12 | $ | 0.54 | $ | (0.27 | ) | ||||||||
2013 (3) | |||||||||||||||||
Total revenues | $ | 102,913 | $ | 100,151 | $ | 107,201 | $ | 104,957 | |||||||||
Total expenses | 94,983 | 97,290 | 101,841 | 102,976 | |||||||||||||
Income (loss) before income taxes and distributions from affiliate | $ | 7,930 | $ | 2,861 | $ | 5,360 | $ | 1,981 | |||||||||
Distributions from affiliate (1) | $ | 400 | $ | 450 | $ | 700 | $ | 700 | |||||||||
Net income (loss) attributable to Sun Communities, Inc. common stockholders | $ | 5,744 | $ | 1,035 | $ | 3,749 | $ | 82 | |||||||||
Earnings (loss) per share: | |||||||||||||||||
Basic | $ | 0.19 | $ | 0.03 | $ | 0.1 | $ | — | |||||||||
Diluted | $ | 0.19 | $ | 0.03 | $ | 0.1 | $ | — | |||||||||
(1) Refer to Note 7 for more information regarding distributions from affiliate. | |||||||||||||||||
(2) During the second quarter of 2014, we recorded a gain on disposition of properties, net of $0.9 million. In the fourth quarter of 2014, we identified and recorded a revision to this gain of $3.2 million. Had this revision been recorded in the second quarter instead of the fourth quarter, our basic and diluted earnings per share would have been income of $0.20 in the second quarter and a loss of $0.34 in the fourth quarter. Management of the Company concluded that the effect of the fourth quarter revision was not material to the second and fourth quarter 2014 financial statements. | |||||||||||||||||
(3) Financial information includes certain reclassifications to conform to current period presentation. |
Derivative_Instruments_And_Hed1
Derivative Instruments And Hedging Activities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||
Schedule of Derivative Instruments [Table Text Block] | The following table provides the terms of our interest rate derivative contracts that were in effect as of December 31, 2014: | ||||||||||||||||||||||||||
Type | Purpose | Effective Date | Maturity Date | Notional | Based on | Variable Rate | Fixed Rate | Spread | Effective Fixed Rate | ||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||
Cap | Cap Floating Rate | 4/1/12 | 4/1/15 | $ | 152.4 | 3 Month LIBOR | 0.23% | 11.27% | —% | N/A | |||||||||||||||||
Cap | Cap Floating Rate | 10/3/11 | 10/3/16 | $ | 10 | 3 Month LIBOR | 0.23% | 11.02% | —% | N/A | |||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table summarizes the fair value of derivative instruments included in our consolidated balance sheets as of December 31, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||||||||||||||||||||
Derivatives designated as hedging instruments | December 31, 2014 | December 31, 2013 | December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Interest rate swap and cap agreements | Other assets | $ | — | $ | — | Other liabilities | $ | — | $ | 97 | |||||||||||||||||
Total derivatives designated as hedging instruments | $ | — | $ | — | $ | — | $ | 97 | |||||||||||||||||||
Schedule of Derivative Instruments, Effect on Other Comprehensive Income | The following table summarizes the impact of derivative instruments for the years ended December 31, 2014, 2013 and 2012 as recorded in the consolidated statements of operations (in thousands): | ||||||||||||||||||||||||||
Derivatives in | Amount of gain or (loss) | Location of gain or (loss) reclassified from accumulated OCI into income (effective portion) | Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | ||||||||||||||||||||||||
cash flow hedging relationship | recognized in OCI | ||||||||||||||||||||||||||
(effective portion) | |||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | ||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Interest rate swap and cap agreements | $ | 97 | $ | 362 | $ | 643 | Interest expense | $ | — | $ | — | $ | — | ||||||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Fair Value, by Balance Sheet Grouping | The table presents the carrying values and fair values of our financial instruments as of December 31, 2014 and December 31, 2013 that were measured using the valuation techniques described above (in thousands). The table excludes other financial instruments such as cash and cash equivalents, accounts receivable, and accounts payable because the carrying values associated with these instruments approximate fair value since their maturities are less than one year. | |||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||
Financial assets | Carrying Value | Fair Value | Carrying Value | Fair Value | ||||||||||||||||
Installment notes receivable on manufactured homes, net | $ | 25,884 | $ | 25,884 | $ | 25,471 | $ | 25,471 | ||||||||||||
Collateralized receivables, net | $ | 122,962 | $ | 122,962 | $ | 109,821 | $ | 109,821 | ||||||||||||
Financial liabilities | ||||||||||||||||||||
Derivative instruments | $ | — | $ | — | $ | 97 | $ | 97 | ||||||||||||
Debt (excluding secured borrowing) | $ | 1,702,643 | $ | 1,752,939 | $ | 1,200,927 | $ | 1,211,821 | ||||||||||||
Secured borrowing | $ | 123,650 | $ | 123,649 | $ | 110,510 | $ | 110,510 | ||||||||||||
Lines of credit | $ | 5,794 | $ | 5,794 | $ | 181,383 | $ | 181,383 | ||||||||||||
Fair Value, Measurement Inputs, Disclosure [Table Text Block] | The table below sets forth, by level, our financial assets and liabilities that were required to be carried at fair value in the consolidated balance sheets as of December 31, 2014 and 2013 (in thousands): | |||||||||||||||||||
Description | Frequency | Asset/(Liability) | Level 1 | Level 2 | Level 3 | |||||||||||||||
31-Dec-14 | Derivative instruments | Recurring | $ | — | $ | — | $ | — | $ | — | ||||||||||
31-Dec-13 | Derivative instruments | Recurring | $ | (97 | ) | $ | — | $ | (97 | ) | $ | — | ||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
sites | |||
states | |||
Significant Accounting Policies [Line Items] | |||
Amortization period, promotions | 7 years | ||
Number of Real Estate Properties | 217 | ||
Number of States in which Entity Operates | 29 | ||
Number of Units in Real Estate Property | 79,554 | ||
Number of sites suitable for development | 7,000 | ||
Cash, Uninsured Amount | $80,700,000 | $5,700,000 | |
Restricted Cash and Cash Equivalents | 11,800,000 | 9,400,000 | |
Advertising Expense | 3,200,000 | 2,900,000 | 2,500,000 |
Land improvements and buildings [Member] | |||
Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | P30Y | ||
Rental properties [Member] | |||
Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | P10Y | ||
Maximum [Member] | |||
Significant Accounting Policies [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | ||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||
Maximum [Member] | Furniture, fixtures and equipment [Member] | |||
Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | P15Y | ||
Minimum [Member] | |||
Significant Accounting Policies [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Parent | 50.00% | ||
Finite-Lived Intangible Asset, Useful Life | 7 years | ||
Minimum [Member] | Furniture, fixtures and equipment [Member] | |||
Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | P7Y | ||
Origen Financial Services [Member] | |||
Significant Accounting Policies [Line Items] | |||
Investment carrying value | $0 | ||
Manufactured home community [Member] | |||
Significant Accounting Policies [Line Items] | |||
Number of Real Estate Properties | 183 | ||
Number of Units in Real Estate Property | 61,231 | ||
RV community [Member] | |||
Significant Accounting Policies [Line Items] | |||
Number of Real Estate Properties | 25 | ||
Manufactured home and RV community [Member] | |||
Significant Accounting Policies [Line Items] | |||
Number of Real Estate Properties | 9 | ||
Annual RV site [Member] | |||
Significant Accounting Policies [Line Items] | |||
Number of Units in Real Estate Property | 9,297 | ||
Transient RV site [Member] | |||
Significant Accounting Policies [Line Items] | |||
Number of Units in Real Estate Property | 9,026 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Reclassifications and Revisions - Balance Sheet (Details) (USD $) | 3 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accounting Changes and Error Corrections [Abstract] | ||||
Quantifying Misstatement in Current Year Financial Statements, Amount | $13,500,000 | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Notes and other receivables, net | 174,857,000 | 162,141,000 | ||
Other assets | 102,352,000 | 67,148,000 | ||
Total assets | 2,937,692,000 | 1,994,904,000 | ||
Other liabilities | 165,453,000 | 118,543,000 | ||
Total liabilities | 1,997,540,000 | 1,611,363,000 | ||
Distributions in excess of accumulated earnings | -863,545,000 | -773,301,000 | ||
Common and preferred OP units | 48,829,000 | 15,760,000 | ||
Total stockholders' equity (deficit) | 940,152,000 | 383,541,000 | ||
Scenario, Previously Reported [Member] | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Notes and other receivables, net | 164,685,000 | |||
Other assets | 68,936,000 | |||
Total assets | 1,999,236,000 | |||
Other liabilities | 109,342,000 | |||
Total liabilities | 1,602,162,000 | |||
Distributions in excess of accumulated earnings | -761,112,000 | |||
Common and preferred OP units | 17,104,000 | |||
Total stockholders' equity (deficit) | 397,074,000 | |||
Restatement Adjustment [Member] | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Notes and other receivables, net | -2,544,000 | |||
Other assets | -1,788,000 | |||
Total assets | -4,332,000 | |||
Other liabilities | 9,201,000 | |||
Total liabilities | 9,201,000 | |||
Distributions in excess of accumulated earnings | -12,189,000 | |||
Common and preferred OP units | -1,344,000 | |||
Total stockholders' equity (deficit) | -13,533,000 | |||
Distributions in Excess of Accumulated Earnings | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Total stockholders' equity (deficit) | -863,545,000 | -773,301,000 | -695,923,000 | -630,142,000 |
Distributions in Excess of Accumulated Earnings | Scenario, Previously Reported [Member] | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Total stockholders' equity (deficit) | -761,112,000 | -683,734,000 | -617,953,000 | |
Distributions in Excess of Accumulated Earnings | Restatement Adjustment [Member] | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Total stockholders' equity (deficit) | -12,189,000 | -12,189,000 | -12,189,000 | |
Noncontrolling Interests | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Total stockholders' equity (deficit) | 48,413,000 | 15,223,000 | 19,124,000 | 24,610,000 |
Noncontrolling Interests | Scenario, Previously Reported [Member] | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Total stockholders' equity (deficit) | $16,567,000 | $20,468,000 | $25,954,000 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies Reclassifications and Revisions - Equity Statement (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 |
Total stockholders' equity (deficit) | $383,541 | $940,152 | ||
Scenario, Previously Reported [Member] | ||||
Total stockholders' equity (deficit) | 397,074 | |||
Restatement Adjustment [Member] | ||||
Total stockholders' equity (deficit) | -13,533 | |||
Prior period adjustment | -13,533 | |||
Distributions in Excess of Accumulated Earnings | ||||
Total stockholders' equity (deficit) | -630,142 | -773,301 | -695,923 | -863,545 |
Distributions in Excess of Accumulated Earnings | Scenario, Previously Reported [Member] | ||||
Total stockholders' equity (deficit) | -617,953 | -761,112 | -683,734 | |
Distributions in Excess of Accumulated Earnings | Restatement Adjustment [Member] | ||||
Total stockholders' equity (deficit) | -12,189 | -12,189 | -12,189 | |
Prior period adjustment | -12,189 | |||
Noncontrolling Interests | ||||
Total stockholders' equity (deficit) | 24,610 | 15,223 | 19,124 | 48,413 |
Noncontrolling Interests | Scenario, Previously Reported [Member] | ||||
Total stockholders' equity (deficit) | 25,954 | 16,567 | 20,468 | |
Noncontrolling Interests | Restatement Adjustment [Member] | ||||
Prior period adjustment | ($1,344) | ($1,344) | ($1,344) |
Real_Estate_Acquisitions_and_D2
Real Estate Acquisitions and Dispositions Real Estate Acquisitions, Green Courte Narrative (Details) (USD $) | 12 Months Ended | 0 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 26, 2014 | Jan. 06, 2015 |
states | |||||
Business Acquisition [Line Items] | |||||
Number of Real Estate Properties | 217 | ||||
Number of Units in Real Estate Property | 79,554 | ||||
Number of States in which Entity Operates | 29 | ||||
Proceeds from Issuance or Sale of Equity | $572,171 | $261,760 | $300,634 | ||
Green Courte - First Closing [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | 9,000 | ||||
Number of States in which Entity Operates | 11 | ||||
Green Courte - First Closing [Member] | Common Stock [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Shares | 361,797 | ||||
Green Courte - First Closing [Member] | Common OP Units [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Shares | 501,130 | ||||
Green Courte - First Closing [Member] | Series A-4 preferred stock [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Shares | 483,317 | ||||
Green Courte - First Closing [Member] | Series A-4 preferred OP units [Domain] | |||||
Business Acquisition [Line Items] | |||||
Number of Shares | 669,449 | ||||
Manufactured home community [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Real Estate Properties | 183 | ||||
Number of Units in Real Estate Property | 61,231 | ||||
Manufactured home community [Member] | Green Courte - First Closing [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Real Estate Properties | 32 | ||||
Business Acquisition [Member] | Green Courte - Second Closing [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | 10,000 | ||||
Business Acquisition [Member] | Green Courte - Second Closing [Member] | Common Stock [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Shares | 4,377,072 | ||||
Business Acquisition [Member] | Green Courte - Second Closing [Member] | Series A-4 preferred stock [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Shares | 5,847,234 | ||||
Business Acquisition [Member] | Manufactured home community [Member] | Green Courte - Second Closing [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Real Estate Properties | 26 | ||||
Subsequent Event [Member] | Green Courte - Second Closing [Member] | Common Stock [Member] | |||||
Business Acquisition [Line Items] | |||||
New shares issued (in shares) | 150,000 | ||||
Subsequent Event [Member] | Green Courte - Second Closing [Member] | Series A-4 preferred OP units [Domain] | |||||
Business Acquisition [Line Items] | |||||
Preferred Units, Issued | 200,000 | ||||
Green Courte - Second Closing [Member] | Subsequent Event [Member] | |||||
Business Acquisition [Line Items] | |||||
Proceeds from Issuance or Sale of Equity | 12,500 |
Real_Estate_Acquisitions_and_D3
Real Estate Acquisitions and Dispositions Real Estate Acquisitions, Green Courte Purchase Price Allocation (Details) (USD $) | 0 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Nov. 26, 2014 | Jan. 06, 2015 | Dec. 31, 2014 | Jun. 04, 2014 | Apr. 25, 2014 | Feb. 18, 2014 | Feb. 14, 2014 | Jan. 10, 2014 | ||||
Business Acquisition [Line Items] | ||||||||||||
In-place leases and other intangible assets | $14,600 | |||||||||||
Assumed debt | 0 | [1] | 0 | [1] | 0 | 0 | 0 | |||||
Green Courte - First Closing [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Investment in property | 656,965 | [2] | ||||||||||
Notes and other receivables | 5,189 | [2] | ||||||||||
Other (liabilities) assets | -4,221 | [2] | ||||||||||
In-place leases and other intangible assets | 12,870 | [2] | ||||||||||
Below market leases | -10,820 | [2] | ||||||||||
Assumed debt | -199,300 | [2] | ||||||||||
Total identifiable assets and liabilities assumed | 460,683 | [2] | ||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 100,700 | [2] | ||||||||||
Cash consideration transferred | 283,200 | [2] | ||||||||||
Total consideration transferred | 460,683 | [2] | ||||||||||
Green Courte - First Closing [Member] | Common OP Units [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 24,064 | [2],[3] | ||||||||||
Green Courte - First Closing [Member] | Series A-4 preferred OP units [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 18,852 | [2],[4] | ||||||||||
Green Courte - First Closing [Member] | Common Stock [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 20,257 | [2] | ||||||||||
Green Courte - First Closing [Member] | Series A-4 preferred stock [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 13,610 | [2] | ||||||||||
Green Courte [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Investment in property | 1,475,495 | |||||||||||
Notes and other receivables | 6,153 | |||||||||||
Other (liabilities) assets | 0 | |||||||||||
In-place leases and other intangible assets | 28,330 | |||||||||||
Below market leases | -65,400 | |||||||||||
Assumed debt | -370,600 | |||||||||||
Total identifiable assets and liabilities assumed | 1,073,978 | |||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 221,660 | |||||||||||
Cash consideration transferred | 340,200 | |||||||||||
Total consideration transferred | 1,073,978 | |||||||||||
Green Courte [Member] | Common OP Units [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 24,064 | [3] | ||||||||||
Green Courte [Member] | Series A-4 preferred OP units [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 19,852 | [4] | ||||||||||
Green Courte [Member] | Common Stock [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 279,175 | |||||||||||
Green Courte [Member] | Series A-4 preferred stock [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 189,027 | |||||||||||
Business Acquisition [Member] | Green Courte - Second Closing [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Investment in property | 818,530 | [2] | ||||||||||
Notes and other receivables | 964 | [2] | ||||||||||
Other (liabilities) assets | 4,221 | [2] | ||||||||||
In-place leases and other intangible assets | 15,460 | [2] | ||||||||||
Below market leases | -54,580 | [2] | ||||||||||
Assumed debt | -171,300 | [2] | ||||||||||
Total identifiable assets and liabilities assumed | 613,295 | [2] | ||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 120,960 | [2] | ||||||||||
Cash consideration transferred | 57,000 | [2] | ||||||||||
Total consideration transferred | 613,295 | [2] | ||||||||||
Business Acquisition [Member] | Green Courte - Second Closing [Member] | Common OP Units [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 0 | [2],[3] | ||||||||||
Business Acquisition [Member] | Green Courte - Second Closing [Member] | Series A-4 preferred OP units [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 1,000 | [2],[4] | ||||||||||
Business Acquisition [Member] | Green Courte - Second Closing [Member] | Common Stock [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | 258,918 | [2] | ||||||||||
Business Acquisition [Member] | Green Courte - Second Closing [Member] | Series A-4 preferred stock [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Equity issued | $175,417 | [2] | ||||||||||
[1] | The purchase price allocations for Saco, Lake Rudolph and Oak Creek are preliminary and may be adjusted as final costs and final valuations are determined. | |||||||||||
[2] | The purchase price allocations for the first and second closings are preliminary and may be adjusted as final costs and final valuations are determined. | |||||||||||
[3] | To estimate the fair value of the common OP units at the valuation date, we utilized the market approach, observing public price of our common stock. | |||||||||||
[4] | To estimate the fair value of the Series A-4 preferred OP units at the valuation date, we utilized a Binomial Lattice Method of the income approach. |
Real_Estate_Acquisitions_and_D4
Real Estate Acquisitions and Dispositions Real Estate Acquisitions, 2014 Other Acquisitions Narrative (Details) | Dec. 31, 2014 | Dec. 19, 2014 | Jun. 04, 2014 | Apr. 25, 2014 | Feb. 14, 2014 | Feb. 18, 2014 | Jan. 10, 2014 | Jan. 08, 2014 |
Business Acquisition [Line Items] | ||||||||
Number of Units in Real Estate Property | 79,554 | |||||||
Oak Creek [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Number of Units in Real Estate Property | 198 | |||||||
Lake Rudolph RV Resort & Campground [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Number of Units in Real Estate Property | 503 | |||||||
Saco RV Resort [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Number of Units in Real Estate Property | 127 | |||||||
Driftwood RV Resort [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Number of Units in Real Estate Property | 698 | |||||||
Number of Potential Sites in Community | 30 | |||||||
Seashore RV Resort [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Number of Units in Real Estate Property | 685 | |||||||
Castaways RV Resort [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Number of Units in Real Estate Property | 369 | |||||||
Number of Potential Sites in Community | 25 | |||||||
Wine Country [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Number of Units in Real Estate Property | 166 | |||||||
Number of Potential Sites in Community | 34 |
Real_Estate_Acquisitions_and_D5
Real Estate Acquisitions and Dispositions Real Estate Acquisitions, 2014 Other Acquisitions Purchase Price Allocation (Details) (USD $) | 0 Months Ended | 3 Months Ended | 0 Months Ended | 2 Months Ended | 11 Months Ended | 1 Months Ended | 4 Months Ended | 5 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Jan. 08, 2014 | Apr. 18, 2013 | Jan. 10, 2014 | Feb. 18, 2014 | Nov. 21, 2013 | Feb. 14, 2014 | Apr. 25, 2014 | Jun. 04, 2014 | Dec. 19, 2014 | Dec. 31, 2014 | |||
Business Acquisition [Line Items] | |||||||||||||
In-place leases and other intangible assets | $14,600 | ||||||||||||
Assumed debt | 0 | 0 | 0 | 0 | [1] | 0 | [1] | ||||||
Wine Country [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Investment in property | 13,250 | ||||||||||||
In-place leases and other intangible assets | 0 | ||||||||||||
Other assets | 9 | ||||||||||||
Below market leases | 0 | ||||||||||||
Other liabilities | -60 | ||||||||||||
Assumed debt | 0 | ||||||||||||
Total identifiable assets and liabilities assumed | 13,199 | ||||||||||||
Cash consideration transferred | 13,199 | ||||||||||||
Jellystone [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Notes and other receivables | 0 | ||||||||||||
Investment in property | 9,754 | ||||||||||||
In-place leases and other intangible assets | 390 | ||||||||||||
Other assets | 7 | ||||||||||||
Below market leases | 0 | ||||||||||||
Other liabilities | -930 | ||||||||||||
Total identifiable assets and liabilities assumed | 9,221 | ||||||||||||
Cash consideration transferred | 9,221 | ||||||||||||
Castaways RV Resort [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Investment in property | 36,597 | ||||||||||||
In-place leases and other intangible assets | 0 | ||||||||||||
Other assets | 2 | ||||||||||||
Below market leases | 0 | ||||||||||||
Other liabilities | -497 | ||||||||||||
Total identifiable assets and liabilities assumed | 36,102 | ||||||||||||
Cash consideration transferred | 36,102 | ||||||||||||
Seashore RV Resort [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Investment in property | 24,258 | ||||||||||||
In-place leases and other intangible assets | 500 | ||||||||||||
Other assets | 12 | ||||||||||||
Below market leases | 0 | ||||||||||||
Other liabilities | -1,188 | ||||||||||||
Total identifiable assets and liabilities assumed | 23,582 | ||||||||||||
Cash consideration transferred | 23,582 | ||||||||||||
Camelot Villa [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Notes and other receivables | 852 | ||||||||||||
Investment in property | 22,121 | ||||||||||||
In-place leases and other intangible assets | 610 | ||||||||||||
Other assets | 84 | ||||||||||||
Below market leases | 240 | ||||||||||||
Other liabilities | -546 | ||||||||||||
Total identifiable assets and liabilities assumed | 25,205 | ||||||||||||
Cash consideration transferred | 25,205 | ||||||||||||
Driftwood RV Resort [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Investment in property | 31,301 | ||||||||||||
In-place leases and other intangible assets | 790 | ||||||||||||
Other assets | 4 | ||||||||||||
Other liabilities | -836 | ||||||||||||
Total identifiable assets and liabilities assumed | 31,259 | ||||||||||||
Cash consideration transferred | 31,259 | ||||||||||||
Saco RV Resort [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Investment in property | 4,366 | [1] | |||||||||||
In-place leases and other intangible assets | 0 | [1] | |||||||||||
Other assets | 31 | [1] | |||||||||||
Below market leases | -6 | [1] | |||||||||||
Other liabilities | -258 | [1] | |||||||||||
Total identifiable assets and liabilities assumed | 4,133 | [1] | |||||||||||
Cash consideration transferred | 4,133 | [1] | |||||||||||
Lake Rudolph RV Resort & Campground [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Investment in property | 30,454 | [1] | |||||||||||
In-place leases and other intangible assets | 0 | [1] | |||||||||||
Other assets | 64 | [1] | |||||||||||
Below market leases | 0 | [1] | |||||||||||
Other liabilities | -1,417 | [1] | |||||||||||
Total identifiable assets and liabilities assumed | 29,101 | [1] | |||||||||||
Cash consideration transferred | 29,101 | [1] | |||||||||||
Oak Creek [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Investment in property | 15,944 | [1] | |||||||||||
In-place leases and other intangible assets | 390 | [1] | |||||||||||
Other assets | 236 | [1] | |||||||||||
Below market leases | -140 | [1] | |||||||||||
Other liabilities | -57 | [1] | |||||||||||
Assumed debt | -10,358 | [1] | |||||||||||
Total identifiable assets and liabilities assumed | 6,015 | [1] | |||||||||||
Cash consideration transferred | 6,015 | [1] | |||||||||||
Total 2014 Acquisitions [Domain] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Investment in property | 156,170 | ||||||||||||
In-place leases and other intangible assets | 1,680 | ||||||||||||
Other assets | 358 | ||||||||||||
Below market leases | -146 | ||||||||||||
Other liabilities | -4,313 | ||||||||||||
Assumed debt | -10,358 | ||||||||||||
Total identifiable assets and liabilities assumed | 143,391 | ||||||||||||
Cash consideration transferred | $143,391 | ||||||||||||
[1] | The purchase price allocations for Saco, Lake Rudolph and Oak Creek are preliminary and may be adjusted as final costs and final valuations are determined. |
Real_Estate_Acquisitions_2014_
Real Estate Acquisitions , 2014 Pro Forma Information (Details) (Series of Individually Immaterial Business Acquisitions [Member], USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Series of Individually Immaterial Business Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Total revenues | $567,731 | $539,020 |
Net income attributable to Sun Communities, Inc. shareholders | $83,125 | $60,985 |
Net income attributable to Sun Communities, Inc. shareholders - basic (in dollars per share) | $2.01 | $1.78 |
Net income attributable to Sun Communities, Inc. shareholders - diluted (in dollars per share) | $1.99 | $1.77 |
Real_Estate_Acquisitions_2013_
Real Estate Acquisitions, 2013 Acquisitions Narrative (Details) | 1 Months Ended | ||||||
Feb. 08, 2013 | Dec. 31, 2014 | Apr. 18, 2013 | 23-May-13 | Nov. 21, 2013 | Nov. 22, 2013 | Dec. 13, 2013 | |
Business Acquisition [Line Items] | |||||||
Number of Units in Real Estate Property | 79,554 | ||||||
Morgan 10 [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of Units in Real Estate Property | 3,700 | ||||||
Number of Businesses Acquired | 10 | ||||||
Jellystone [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of Units in Real Estate Property | 299 | ||||||
Big Timber Lake [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of Units in Real Estate Property | 528 | ||||||
Camelot Villa [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of Units in Real Estate Property | 712 | ||||||
Jellystone at Birchwood [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of Units in Real Estate Property | 269 | ||||||
Vines RV Resort [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of Units in Real Estate Property | 130 |
Real_Estate_Acquisitions_2013_1
Real Estate Acquisitions, 2013 Acquisitions Purchase Price Allocation (Details) (USD $) | 1 Months Ended | 3 Months Ended | 5 Months Ended | 11 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||
In Thousands, except Share data, unless otherwise specified | Feb. 08, 2013 | Apr. 18, 2013 | 23-May-13 | Nov. 21, 2013 | Nov. 22, 2013 | Dec. 13, 2013 | Dec. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2014 | Jun. 04, 2014 | Apr. 25, 2014 | Feb. 18, 2014 | Feb. 14, 2014 | Jan. 10, 2014 | |||
At acquistion date | |||||||||||||||||
In-place leases and other intangible assets | $14,600 | ||||||||||||||||
Assumed debt | 0 | [1] | 0 | [1] | 0 | 0 | 0 | ||||||||||
Morgan 10 [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Investment in property | 109,122 | ||||||||||||||||
Inventory of manufactured homes | 0 | ||||||||||||||||
Notes and other receivables | 0 | ||||||||||||||||
In-place leases and other intangible assets | 2,940 | ||||||||||||||||
Other assets | 157 | ||||||||||||||||
Below market leases | 0 | ||||||||||||||||
Other liabilities | -3,697 | ||||||||||||||||
Total identifiable assets and liabilities assumed | 108,522 | ||||||||||||||||
Cash consideration transferred | 55,618 | ||||||||||||||||
Extinguishment of note receivable | 49,441 | ||||||||||||||||
Total consideration transferred | 108,522 | ||||||||||||||||
Jellystone [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Investment in property | 9,754 | ||||||||||||||||
Inventory of manufactured homes | 0 | ||||||||||||||||
Notes and other receivables | 0 | ||||||||||||||||
In-place leases and other intangible assets | 390 | ||||||||||||||||
Other assets | 7 | ||||||||||||||||
Below market leases | 0 | ||||||||||||||||
Other liabilities | -930 | ||||||||||||||||
Total identifiable assets and liabilities assumed | 9,221 | ||||||||||||||||
Cash consideration transferred | 9,221 | ||||||||||||||||
Extinguishment of note receivable | 0 | ||||||||||||||||
Total consideration transferred | 9,221 | ||||||||||||||||
Big Timber Lake [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Investment in property | 21,898 | ||||||||||||||||
Inventory of manufactured homes | 0 | ||||||||||||||||
Notes and other receivables | 0 | ||||||||||||||||
In-place leases and other intangible assets | 580 | ||||||||||||||||
Other assets | 48 | ||||||||||||||||
Below market leases | -3,490 | ||||||||||||||||
Other liabilities | -1,157 | ||||||||||||||||
Total identifiable assets and liabilities assumed | 17,879 | ||||||||||||||||
Cash consideration transferred | 17,879 | ||||||||||||||||
Extinguishment of note receivable | 0 | ||||||||||||||||
Total consideration transferred | 17,879 | ||||||||||||||||
Camelot Villa [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Investment in property | 22,121 | ||||||||||||||||
Inventory of manufactured homes | 2,324 | ||||||||||||||||
Notes and other receivables | 852 | ||||||||||||||||
In-place leases and other intangible assets | 610 | ||||||||||||||||
Other assets | 84 | ||||||||||||||||
Below market leases | -240 | ||||||||||||||||
Other liabilities | -546 | ||||||||||||||||
Total identifiable assets and liabilities assumed | 25,205 | ||||||||||||||||
Cash consideration transferred | 25,205 | ||||||||||||||||
Extinguishment of note receivable | 0 | ||||||||||||||||
Total consideration transferred | 25,205 | ||||||||||||||||
Jellystone at Birchwood [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Investment in property | 6,087 | ||||||||||||||||
Inventory of manufactured homes | 0 | ||||||||||||||||
Notes and other receivables | 0 | ||||||||||||||||
In-place leases and other intangible assets | 450 | ||||||||||||||||
Other assets | 12 | ||||||||||||||||
Below market leases | 0 | ||||||||||||||||
Other liabilities | -293 | ||||||||||||||||
Total identifiable assets and liabilities assumed | 6,256 | ||||||||||||||||
Cash consideration transferred | 6,256 | ||||||||||||||||
Extinguishment of note receivable | 0 | ||||||||||||||||
Total consideration transferred | 6,256 | ||||||||||||||||
Vines RV Resort [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Investment in property | 8,000 | ||||||||||||||||
Inventory of manufactured homes | 0 | ||||||||||||||||
Notes and other receivables | 0 | ||||||||||||||||
In-place leases and other intangible assets | 0 | ||||||||||||||||
Other assets | 1 | ||||||||||||||||
Below market leases | 0 | ||||||||||||||||
Other liabilities | -4 | ||||||||||||||||
Total identifiable assets and liabilities assumed | 7,997 | ||||||||||||||||
Cash consideration transferred | 7,997 | ||||||||||||||||
Extinguishment of note receivable | 0 | ||||||||||||||||
Total consideration transferred | 7,997 | ||||||||||||||||
Total 2013 Acquisitions [Domain] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Investment in property | 176,982 | ||||||||||||||||
Inventory of manufactured homes | 2,324 | ||||||||||||||||
Notes and other receivables | 852 | ||||||||||||||||
In-place leases and other intangible assets | 4,970 | ||||||||||||||||
Other assets | 309 | ||||||||||||||||
Below market leases | -3,730 | ||||||||||||||||
Other liabilities | -6,627 | ||||||||||||||||
Total identifiable assets and liabilities assumed | 175,080 | ||||||||||||||||
Cash consideration transferred | 122,176 | ||||||||||||||||
Extinguishment of note receivable | 49,441 | ||||||||||||||||
Total consideration transferred | 175,080 | ||||||||||||||||
Series A-3 Preferred OP Units [Member] | Morgan 10 [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Series A-3 preferred OP units issued (in shares) | 40,268 | ||||||||||||||||
Series A-3 Preferred OP Units [Member] | Morgan 10 [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Series A-3 preferred OP units | 3,463 | [2] | |||||||||||||||
Series A-3 Preferred OP Units [Member] | Jellystone [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Series A-3 preferred OP units | 0 | ||||||||||||||||
Series A-3 Preferred OP Units [Member] | Big Timber Lake [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Series A-3 preferred OP units | 0 | ||||||||||||||||
Series A-3 Preferred OP Units [Member] | Camelot Villa [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Series A-3 preferred OP units | 0 | ||||||||||||||||
Series A-3 Preferred OP Units [Member] | Jellystone at Birchwood [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Series A-3 preferred OP units | 0 | ||||||||||||||||
Series A-3 Preferred OP Units [Member] | Vines RV Resort [Member] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Series A-3 preferred OP units | 0 | ||||||||||||||||
Series A-3 Preferred OP Units [Member] | Total 2013 Acquisitions [Domain] | |||||||||||||||||
At acquistion date | |||||||||||||||||
Series A-3 preferred OP units | $3,463 | ||||||||||||||||
[1] | The purchase price allocations for Saco, Lake Rudolph and Oak Creek are preliminary and may be adjusted as final costs and final valuations are determined. | ||||||||||||||||
[2] | Included in the total consideration paid for Morgan RV Properties was the issuance of 40,268 Series A-3 preferred OP units. In order to estimate the fair value of these units at the valuation date, we utilized the income approach using estimated future discounted cash flows. |
Real_Estate_Acquisitions_and_D6
Real Estate Acquisitions and Dispositions Real Estate Acquisitions, 2013 Acquisitions (Details) (Acquisitions - 2013 [Member], USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Acquisitions - 2013 [Member] | ||
Business Acquisition [Line Items] | ||
Total revenues | $423,490 | $392,862 |
Net income attributable to Sun Communities, Inc. shareholders | $16,352 | $23,833 |
Net income attributable to Sun Communities, Inc. shareholders - basic (in dollars per share) | $0.47 | $0.87 |
Net income attributable to Sun Communities, Inc. shareholders - diluted (in dollars per share) | $0.47 | $0.87 |
Real_Estate_Acquisitions_Sched
Real Estate Acquisitions , Schedule of Revenue and Net Income from acquistions (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 |
Business Combination, Separately Recognized Transactions [Line Items] | ||||
Transaction costs | $18,259 | $3,928 | $4,296 | |
Series of Individually Immaterial Business Acquisitions [Member] | ||||
Business Combination, Separately Recognized Transactions [Line Items] | ||||
Revenue | 42,258 | 60,148 | 38,557 | |
Net income | 9,214 | 5,914 | 290 | |
Green Courte [Member] | ||||
Business Combination, Separately Recognized Transactions [Line Items] | ||||
Revenue | 6,515 | |||
Net income | ($6,744) |
Real_Estate_Acquisitions_and_D7
Real Estate Acquisitions and Dispositions Real Estate Dispositions (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Real Estate Properties [Line Items] | |||||||||||
Number of Real Estate Properties Sold | 10 | ||||||||||
Gain on disposition of properties, net | $3,138 | [1] | $13,631 | [1] | $885 | [1] | $0 | [1] | $17,654 | $0 | $0 |
[1] | (2) During the second quarter of 2014, we recorded a gain on disposition of properties, net of $0.9 million. In the fourth quarter of 2014, we identified and recorded a revision to this gain of $3.2 million. Had this revision been recorded in the second quarter instead of the fourth quarter, our basic and diluted earnings per share would have been income of $0.20 in the second quarter and a loss of $0.34 in the fourth quarter. Management of the Company concluded that the effect of the fourth quarter revision was not material to the second and fourth quarter 2014 financial statements. |
Investment_Property_Details
Investment Property (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Real estate, investment property [Line Items] | |||
Land | $309,386 | $194,404 | |
Land improvements and buildings | 2,471,436 | 1,806,546 | |
Rental homes and improvements | 477,554 | 393,562 | |
Furniture, fixtures, and equipment | 81,586 | 65,086 | |
Land held for future development | 23,955 | 29,521 | |
Investment property | 3,363,917 | 2,489,119 | |
Accumulated depreciation | -795,753 | -734,067 | |
Investment property, net | 2,568,164 | 1,755,052 | |
Asset impairment charge | $837 | $0 | $0 |
Number of Units in Real Estate Property | 79,554 | ||
Kenwood [Member] | |||
Real estate, investment property [Line Items] | |||
Number of Units in Real Estate Property | 280 |
Transfers_Of_Financial_Assets_1
Transfers Of Financial Assets , Repurchase price percentage (Details) (Collateralized receivables [Member]) | 12 Months Ended |
Dec. 31, 2014 | |
Less than or equal to 15 [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Notes Receivable, Repurchase Percentage | 100.00% |
Greater than 15 but less than 64 [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Notes Receivable, Repurchase Percentage | 90.00% |
Equal to or greater than 64 but less than 120 [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Notes Receivable, Repurchase Percentage | 65.00% |
120 or more [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Notes Receivable, Repurchase Percentage | 50.00% |
Transfers_Of_Financial_Assets_2
Transfers Of Financial Assets , Schedule of collateralized loans (Details) (Collateralized receivables [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Collateralized receivables [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | $110,510 | $94,409 |
Financed sales of manufactured homes | 34,952 | 34,007 |
Principal payments and payoffs from our customers | -11,845 | -7,930 |
Principal reduction from repossessed homes | -9,967 | -9,976 |
Total activity | 13,140 | 16,101 |
Ending balance | $123,650 | $110,510 |
Transfers_Of_Financial_Assets_3
Transfers Of Financial Assets , Narrative (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Cash Flows Between Transferor and Transferee, Proceeds from New Transfers | $35,000,000 | $34,000,000 | |
Notes and other receivables, net | 174,857,000 | 162,141,000 | |
Secured debt | 1,826,293,000 | 1,311,437,000 | |
Current Fiscal Year End Date | -19 | ||
Secured Debt [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Secured debt | 123,650,000 | 110,500,000 | |
Collateralized receivables [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Allowance | 700,000 | 700,000 | |
Interest Income (Expense), Net | 11,800,000 | 10,600,000 | 9,400,000 |
Reported Value Measurement [Member] | Secured Debt [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Secured debt | 123,650,000 | 110,510,000 | |
Reported Value Measurement [Member] | Collateralized receivables [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes and other receivables, net | $122,962,000 | $109,821,000 |
Schedule_of_notes_and_other_re
Schedule of notes and other receivables (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total notes and other receivables, net | $174,857 | $162,141 |
Other receivables, net [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total notes and other receivables, net | 26,011 | 29,393 |
Total notes and other receivables [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total notes and other receivables, net | 174,857 | 164,685 |
Reported Value Measurement [Member] | Installment notes receivable on manufactured homes, net [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total notes and other receivables, net | 25,884 | 25,471 |
Reported Value Measurement [Member] | Collateralized receivables [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total notes and other receivables, net | $122,962 | $109,821 |
Notes_And_Other_Receivables_In
Notes And Other Receivables Installment notes receivable on manufactured homes - narrative (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Rate | Rate | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes and other receivables, net | $174,857 | $162,141 |
Installment notes receivable on manufactured homes, net [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Allowance | 100 | 100 |
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 8.70% | 8.90% |
Receivable With Imputed Interest, Term | 10 years 5 months 1 day | 11 years 10 months 24 days |
Installment notes receivable on manufactured homes, net [Member] | Reported Value Measurement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes and other receivables, net | $25,884 | $25,471 |
Schedule_of_installment_notes_
Schedule of installment notes receivable (Details) (Installment notes receivable on manufactured homes, gross [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Installment notes receivable on manufactured homes, gross [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | $25,575 | $22,019 |
Financed sales of manufactured homes | 946 | 7,798 |
Acquired notes | 5,189 | 852 |
Principal payments and payoffs from our customers | 4,088 | 3,838 |
Principal reduction from repossessed homes | 1,598 | 1,256 |
Total activity | 449 | 3,556 |
Ending balance | $26,024 | $25,575 |
Notes_And_Other_Receivables_Co
Notes And Other Receivables Collateralized notes receivable - Narrative (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Rate | Rate | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes and other receivables, net | $174,857 | $162,141 |
Collateralized receivables [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Allowance | 700 | 700 |
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 10.40% | 10.70% |
Receivable With Imputed Interest, Term | 14 years 7 months 2 days | 13 years 7 months 6 days |
Reported Value Measurement [Member] | Collateralized receivables [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes and other receivables, net | $122,962 | $109,821 |
Allowance_for_collateralized_a
Allowance for collateralized and installment notes receivable (Details) (Collateralized receivables, net and Installment Notes Receivables on Manufactured Homes [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Collateralized receivables, net and Installment Notes Receivables on Manufactured Homes [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning balance | $793 | $697 |
Lower of cost or market write-downs | 280 | 421 |
Increase to reserve balance | -316 | -517 |
Total activity | -36 | -96 |
Ending balance | $828 | $793 |
Other_receivables_Narrative_De
Other receivables, Narrative (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Rate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Premiums and Other Receivables, Net | -6.8 | ($4.60) | |
Other receivables for rent, water, sewer usage | 4.9 | 6.9 | |
Allowance for rent, water, sewer usage receivables | 1 | 0.7 | |
Home sale proceeds | 7.4 | 5.7 | |
Insurance receivables | 1 | 2 | |
Insurance Settlements Receivable | 3.7 | 3.7 | |
Note receivable related to Kentland acquistion | 4.3 | 4.3 | |
Miscellaneous note receivable | 2.2 | 2.2 | |
Pledged Assets, Series A-3 Preferred OP Units | $4 | ||
2014-2015 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Miscellaneous note receivable, interest rate | 8.00% | ||
2016 and thereafter [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Miscellaneous note receivable, interest rate | 7.90% |
Intangibles_Schedule_of_Finite
Intangibles Schedule of Finite-Lived Intangible Assets (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $42,275 | $27,731 |
Finite-Lived Intangible Assets, Accumulated Amortization | -12,213 | -8,268 |
Leases, Acquired-in-Place [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 7 years | |
Finite-Lived Intangible Assets, Gross | 41,511 | 26,961 |
Finite-Lived Intangible Assets, Accumulated Amortization | -12,107 | -8,239 |
Franchise Rights [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 15 years | |
Finite-Lived Intangible Assets, Gross | 764 | 770 |
Finite-Lived Intangible Assets, Accumulated Amortization | ($106) | ($29) |
Intangibles_Schedule_of_Intang1
Intangibles Schedule of Intangible Asset Amortization Expense (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Finite-Lived Intangible Assets, Amortization Expense [Line Items] | |||
Amortization of Intangible Assets | $3,944 | $3,357 | $1,657 |
Leases, Acquired-in-Place [Member] | |||
Schedule of Finite-Lived Intangible Assets, Amortization Expense [Line Items] | |||
Amortization of Intangible Assets | 3,867 | 3,297 | 1,657 |
Franchise Rights [Member] | |||
Schedule of Finite-Lived Intangible Assets, Amortization Expense [Line Items] | |||
Amortization of Intangible Assets | $77 | $60 | $0 |
Intangibles_Future_Amortizatio
Intangibles Future Amortization Expense (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Line Items] | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $5,564 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 5,564 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 5,690 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 4,902 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $3,896 |
Intangibles_Narrative_Details
Intangibles Narrative (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Acquired Indefinite-lived Intangible Assets [Line Items] | |
In-place leases and other intangible assets | $14,600 |
Total 2014 Acquisitions [Domain] | |
Acquired Indefinite-lived Intangible Assets [Line Items] | |
In-place leases and other intangible assets | $1,680 |
Investment_In_Affiliates_Narra
Investment In Affiliates , Narrative (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Schedule of Equity Method Investments [Line Items] | |||
Distributions from affiliate | $1,200,000 | $2,250,000 | $3,900,000 |
Distributions from affiliate | -1,200,000 | -2,250,000 | -3,900,000 |
Origen Financial Services [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership percentage | 22.90% | ||
Investment carrying value | 0 | ||
Origen Financial [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership percentage | 19.00% | ||
Investment carrying value | 0 | ||
Investment owned (in shares) | 5,000,000 | ||
Market value of investment in Origen | $8,200,000 | ||
Origen quoted market closing price (in dollars per share) | $1.64 |
Investment_In_Affiliates_Sched
Investment In Affiliates , Schedule of Investments (Details) (Origen Financial [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 |
Origen Financial [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Summarized Financial Information, Loans Receivable | $463,254 | |
Revenues | 64,838 | |
Expenses | -66,215 | |
Net loss | -1,377 | |
Equity Method Investment, Summarized Financial Information, Other Assets | 15,529 | |
Equity Method Investment, Summarized Financial Information, Assets | 478,783 | |
Equity Method Investment, Summarized Financial Information, Warehouse and securitization financing | 423,369 | |
Equity Method Investment, Summarized Financial Information, Other liabilities | 38,109 | |
Equity Method Investment, Summarized Financial Information, Liabilities | $461,478 |
Consolidated_Variable_Interest2
Consolidated Variable Interest Entities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Nov. 14, 2012 |
In Thousands, unless otherwise specified | Rate | Rate | |
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Consolidated, Investment Property, net | $94,230 | $56,805 | |
Variable Interest Entity, Consolidated, Other Assets | 4,400 | 3,926 | |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 98,630 | 60,731 | |
Variable Interest Entities, Consolidated, Debt | 65,849 | 45,209 | 45,900 |
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities | 10,442 | 6,564 | |
Consolidated variable interest entities | -416 | -537 | |
Variable Interest Entities, Consolidated, Total Liabilities and Stockholder's Equity | 75,875 | 51,236 | |
VIE Percent of Consolidated Assets | 3.40% | 3.00% | |
VIE Percent of Consolidated Liabilities | 3.80% | 3.20% | |
VIE Percent of Total Equity | 1.00% | 1.00% | |
Wildwood [Member] | |||
Variable Interest Entity [Line Items] | |||
Assumed debt | 17,700 | ||
Rudgate [Member] | |||
Variable Interest Entity [Line Items] | |||
Assumed debt | $15,103 |
Debt_And_Lines_Of_Credit_Table1
Debt And Lines Of Credit , Table - Schedule of debt and lines of credit (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | 1-May-13 |
Rate | Rate | ||
Debt Instrument [Line Items] | |||
Total debt | $1,826,293 | $1,311,437 | |
Debt weighted average to maturity, years | 7 years 6 months | 7 years 2 months 12 days | |
Weighted average interest rate | 5.10% | 5.30% | |
Collateralized Mortgage Backed Securities [Member] | |||
Debt Instrument [Line Items] | |||
Total debt | 1,700,000 | ||
Collateralized term loans - CMBS [Member] | |||
Debt Instrument [Line Items] | |||
Total debt | 806,840 | 710,626 | |
Debt weighted average to maturity, years | 5 years 4 months 24 days | 5 years 10 months 24 days | |
Weighted average interest rate | 5.30% | 5.30% | |
Aspen and Series B-3 Preferred OP Units [Member] | |||
Debt Instrument [Line Items] | |||
Total debt | 45,903 | 47,022 | |
Debt weighted average to maturity, years | 6 years 9 months 18 days | 7 years 7 months 6 days | |
Weighted average interest rate | 6.90% | 6.90% | |
Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total debt | 123,650 | 110,500 | |
Debt weighted average to maturity, years | 14 years 7 months 6 days | 13 years 6 months | |
Weighted average interest rate | 10.40% | 10.60% | |
Reported Value Measurement [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Total debt | 123,650 | 110,510 | |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | |||
Debt Instrument [Line Items] | |||
Weighted average interest rate | 3.60% | ||
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | Collateralized term loans - FNMA/FMCC [Member] | |||
Debt Instrument [Line Items] | |||
Total debt | 492,800 | 440,790 | 151,400 |
Debt weighted average to maturity, years | 7 years 1 month 6 days | 7 years 8 months 12 days | |
Weighted average interest rate | 4.00% | 3.80% | |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Collateralized term loans - FNMA/FMCC [Member] | |||
Debt Instrument [Line Items] | |||
Total debt | 152,462 | 0 | |
Debt weighted average to maturity, years | 9 years 10 months 24 days | 0 years | |
Weighted average interest rate | 4.00% | 0.00% | |
Life Companies [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Debt Instrument [Line Items] | |||
Total debt | $204,638 | $2,489 | |
Debt weighted average to maturity, years | 10 years 10 months 24 days | 3 years 3 months 18 days | |
Weighted average interest rate | 4.30% | 8.00% |
Debt_And_Lines_Of_Credit_Narra
Debt And Lines Of Credit , Narrative - Collateralized Term Loans (Details) (USD $) | 12 Months Ended | 1 Months Ended | 2 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | ||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2014 | Dec. 31, 2013 | Aug. 31, 2014 | Jan. 30, 2014 | Dec. 31, 2014 | Oct. 31, 2013 | 2-May-13 | 1-May-13 | Sep. 30, 2014 | Nov. 26, 2014 | Jan. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2014 | |
Rate | Rate | Rate | Rate | Rate | Rate | |||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Weighted average interest rate | 5.10% | 5.30% | 5.30% | 5.10% | ||||||||||||
Debt weighted average to maturity, length | 7 years 6 months | 7 years 2 months 12 days | ||||||||||||||
Debt assumed in acquisition | $209,658,000 | $0 | $62,826,000 | |||||||||||||
Secured debt | 1,826,293,000 | 1,311,437,000 | 1,311,437,000 | 1,826,293,000 | ||||||||||||
Number of Units in Real Estate Property | 79,554 | 79,554 | ||||||||||||||
Collateralized Mortgage Backed Securities [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Extinguishment of Debt, Amount | 52,600,000 | 34,400,000 | ||||||||||||||
Extinguishment of debt, number of loans | 11 | 11 | ||||||||||||||
Secured debt | 1,700,000,000 | 1,700,000,000 | ||||||||||||||
Pledged Assets, Not Separately Reported, Real Estate | 1,600,000,000 | 1,600,000,000 | ||||||||||||||
Properties securing debt [Member] | Collateralized Mortgage Backed Securities [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Number of properties securing a debt instument (in properties) | 147 | 147 | ||||||||||||||
Number of Units in Real Estate Property | 49,390 | 49,390 | ||||||||||||||
Manufactured home community [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Number of Units in Real Estate Property | 61,231 | 61,231 | ||||||||||||||
Ladder Capital Finance, LLC [Member] | Collateralized Mortgage Backed Securities [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt Instrument, Face Amount | 63,500,000 | 63,500,000 | ||||||||||||||
Stated interest rate | 4.56% | 4.56% | ||||||||||||||
Debt Instrument, Term | 10 years | |||||||||||||||
Northwestern Mutual Life Insurance Company [Member] | Collateralized Mortgage Backed Securities [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt Instrument, Face Amount | 74,000,000 | 74,000,000 | 99,000,000 | |||||||||||||
Debt Instrument, Maturity Date | 13-Feb-26 | |||||||||||||||
Stated interest rate | 3.65% | 3.65% | 4.20% | |||||||||||||
Debt Instrument, Term | 15 years | |||||||||||||||
Pool A Loan [Member] | Collateralized Mortgage Backed Securities [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt Instrument, Face Amount | 72,000,000 | 72,000,000 | ||||||||||||||
Debt Instrument, Maturity Date | 1-Jan-24 | |||||||||||||||
Stated interest rate | 4.89% | 4.89% | ||||||||||||||
Pool A Loan [Member] | Manufactured home community [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Number of properties securing a debt instument (in properties) | 8 | 8 | ||||||||||||||
Pool A Loan [Member] | RV community [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Number of properties securing a debt instument (in properties) | 2 | 2 | ||||||||||||||
Pool B Loan [Member] | Collateralized Mortgage Backed Securities [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt Instrument, Face Amount | 69,100,000 | 69,100,000 | ||||||||||||||
Debt Instrument, Maturity Date | 1-Jan-24 | |||||||||||||||
Stated interest rate | 4.90% | 4.90% | ||||||||||||||
Pool B Loan [Member] | Manufactured home community [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Number of properties securing a debt instument (in properties) | 8 | 8 | ||||||||||||||
Pool B Loan [Member] | RV community [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Number of properties securing a debt instument (in properties) | 1 | 1 | ||||||||||||||
Falcon Pointe and Dutton Mills [Member] | Mortgages [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Number of properties securing a debt instument (in properties) | 2 | |||||||||||||||
Extinguishment of Debt, Amount | 5,800,000 | |||||||||||||||
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Weighted average interest rate | 3.60% | 3.60% | ||||||||||||||
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | Collateralized term loans - FNMA/FMCC [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt Instrument, Maturity Date | 1-May-23 | 1-May-13 | ||||||||||||||
Weighted average interest rate | 4.00% | 3.80% | 3.80% | 4.00% | ||||||||||||
Debt weighted average to maturity, length | 7 years 1 month 6 days | 7 years 8 months 12 days | ||||||||||||||
Secured debt | 492,800,000 | 440,790,000 | 440,790,000 | 492,800,000 | 151,400,000 | |||||||||||
Holiday West Village [Member] | Mortgages [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Extinguishment of Debt, Amount | 3,500,000 | |||||||||||||||
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Collateralized term loans - FNMA/FMCC [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Weighted average interest rate | 4.00% | 0.00% | 0.00% | 4.00% | ||||||||||||
Debt weighted average to maturity, length | 9 years 10 months 24 days | 0 years | ||||||||||||||
Secured debt | 152,462,000 | 0 | 0 | 152,462,000 | ||||||||||||
Brookside Village, Kentwood, MI [Member] | Mortgages [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Extinguishment of Debt, Amount | 2,400,000 | |||||||||||||||
Cave Creek & Pine Trace [Member] | Mortgages [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Extinguishment of Debt, Amount | 13,500,000 | |||||||||||||||
Sheffield [Member] | Mortgages [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Extinguishment of Debt, Amount | 6,500,000 | |||||||||||||||
Green Courte [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Collateralized term loans - FNMA/FMCC [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt Instrument, Face Amount | 100,700,000 | |||||||||||||||
Weighted average interest rate | 5.89% | |||||||||||||||
Debt weighted average to maturity, length | 4 years 4 months 6 days | |||||||||||||||
Stated interest rate | 4.03% | |||||||||||||||
Proceeds from Issuance of Debt | 152,500,000 | |||||||||||||||
Debt assumed in acquisition | 182,400,000 | |||||||||||||||
Number of properties securing a debt instument (in properties) | 12 | |||||||||||||||
Debt Instrument, Term | 10 years | |||||||||||||||
Palm Creek [Member] | Mortgages [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Weighted average interest rate | 2.00% | |||||||||||||||
Extinguishment of Debt, Amount | 36,000,000 | |||||||||||||||
Florida Properties [Member] | Mortgages [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt Instrument, Face Amount | 36,000,000 | |||||||||||||||
Extinguishment of Debt, Amount | 30,000,000 | |||||||||||||||
RainbowRV [Member] | Mortgages [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Extinguishment of Debt, Amount | $600,000 |
Debt_And_Lines_Of_Credit_Narra1
Debt And Lines Of Credit , Narrative - Aspen Preferred OP Units and Series B-3 preferred OP units (Details) (Aspen Preferred OP Units [Member], Convertible debt - Aspen Preferred OP Units January 2024 [Member], USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Rate | |
Aspen Preferred OP Units [Member] | Convertible debt - Aspen Preferred OP Units January 2024 [Member] | |
Debt Instrument [Line Items] | |
Convertible units to shares (in shares) | 509,676 |
Conversion Price (in dollars per share) | $68 |
Debt Instrument, Redemption Period, Start Date | 1-Jan-24 |
Debt Instrument, Interest Rate During Period | 6.50% |
Debt_And_Lines_Of_Credit_Narra2
Debt And Lines Of Credit , Narrative - Line of Credit (Details) (USD $) | 12 Months Ended | 1 Months Ended | 8 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Feb. 28, 2013 |
Rate | Rate | ||||
Line of Credit Facility [Line Items] | |||||
Weighted average interest rate | 5.10% | 5.30% | 5.30% | ||
Debt weighted average to maturity, length | 7 years 6 months | 7 years 2 months 12 days | |||
Line of Credit - Morgan RV [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of credit, borrowing capacity | $61.50 | ||||
Debt instrument, pay off date | 1-Mar-13 | ||||
Line of credit - manufactured home floor plan facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of credit, borrowing capacity | 12 | ||||
Line of credit, outstanding balance | 5.8 | 3.3 | 3.3 | ||
Weighted average interest rate | 7.00% | ||||
Line of credit - rental home portfolio [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of credit, borrowing capacity | 20 | ||||
Line of credit, outstanding balance | 0 | 0 | 0 | ||
Line of credit, outstanding loan balance, percent | 200.00% | ||||
Debt Instrument, Interest Rate, Effective Percentage | 5.50% | 5.50% | |||
Line of Credit [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of credit, borrowing capacity | 350 | ||||
Line of credit facility, additional borrowing capacity | 250 | ||||
Line of credit, outstanding balance | 0 | 178.1 | 178.1 | ||
Letters of credit outstanding, amount | 3.2 | 2.7 | $2.70 | ||
Debt Instrument, Maturity Date | 15-May-17 | ||||
Line of credit, option to extend term | 1 year | ||||
Eurodollar [Member] | Line of Credit [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Effective interest rate, minimum | 1.65% | ||||
Effective interest rate, maximum | 2.90% | ||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 1.65% | ||||
Prime Rate [Member] | Line of credit - manufactured home floor plan facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Effective interest rate, maximum | 6.00% | ||||
Basis points | 10000.00% | ||||
Prime Rate [Member] | Line of credit - rental home portfolio [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Basis points | 20000.00% | ||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 5.50% | ||||
Debt Instrument, Interest Rate, Effective Percentage | 5.50% | ||||
Debt Instrument, Redemption, Period One [Member] | Line of credit - rental home portfolio [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of Credit Facility, Interest only payment term | 5 years | ||||
Debt Instrument, Redemption, Period Two [Member] | Line of credit - rental home portfolio [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt weighted average to maturity, length | 10 years |
Debt_And_Lines_Of_Credit_Table2
Debt And Lines Of Credit , Table - Maturities and Amortization of debt and lines of credit (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Debt Instrument [Line Items] | |
Total Due | $1,813,886 |
2015 | 63,534 |
2016 | 304,952 |
2017 | 121,872 |
2018 | 68,380 |
2019 | 47,540 |
Thereafter | 1,207,608 |
Lines of Credit [Member] | |
Debt Instrument [Line Items] | |
Total Due | 5,794 |
2015 | 5,794 |
2016 | 0 |
2017 | 0 |
2018 | 0 |
2019 | 0 |
Thereafter | 0 |
Mortgage maturities [Member] | |
Debt Instrument [Line Items] | |
Total Due | 1,410,652 |
2015 | 24,810 |
2016 | 267,863 |
2017 | 92,289 |
2018 | 38,315 |
2019 | 16,508 |
Thereafter | 970,867 |
Mortgage principal amortization [Member] | |
Debt Instrument [Line Items] | |
Total Due | 227,887 |
2015 | 24,093 |
2016 | 23,804 |
2017 | 23,325 |
2018 | 23,263 |
2019 | 23,670 |
Thereafter | 109,732 |
Aspen and Series B-3 Preferred OP Units [Member] | |
Debt Instrument [Line Items] | |
Total Due | 45,903 |
2015 | 3,670 |
2016 | 7,570 |
2017 | 0 |
2018 | 0 |
2019 | 0 |
Thereafter | 34,663 |
Secured borrowing [Member] | |
Debt Instrument [Line Items] | |
Total Due | 123,650 |
2015 | 5,167 |
2016 | 5,715 |
2017 | 6,258 |
2018 | 6,802 |
2019 | 7,362 |
Thereafter | $92,346 |
Equity_Transactions_Narrative_
Equity Transactions Narrative (Details) (USD $) | 1 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | |||||||||||
Nov. 26, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Mar. 31, 2014 | Jan. 16, 2015 | Jan. 15, 2015 | Dec. 31, 2014 | Nov. 30, 2014 | Feb. 28, 2013 | Jan. 13, 2015 | Apr. 08, 2014 | Sep. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Nov. 30, 2004 | 10-May-12 | |
Rate | Rate | |||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Series A-4 preferred stock, shares issued | 483,317 | 0 | ||||||||||||||||
Dividends per common share: | $2.60 | $2.52 | $1.89 | |||||||||||||||
Distributions | $112,300,000 | |||||||||||||||||
Common Stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Dividends per common share: | $0.65 | $0.65 | ||||||||||||||||
Common Stock [Member] | Dividend Paid [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Payments of Ordinary Dividends, Common Stock | 33,200,000 | |||||||||||||||||
Series A Preferred Stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Distributions | 0 | 0 | 0 | |||||||||||||||
Dividends, Preferred Stock, Cash | 6,000,000 | |||||||||||||||||
Preferred Stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Preferred Stock, Dividends Per Share, Declared | $0.45 | |||||||||||||||||
Preferred Stock [Member] | Dividend Paid [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | 1,500,000 | |||||||||||||||||
Series A-4 preferred stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Preferred Stock, Dividends Per Share, Declared | $0.16 | |||||||||||||||||
Dividends, Preferred Stock, Cash | 100,000 | |||||||||||||||||
Series A-4 preferred stock [Member] | Dividend Paid [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | 100,000 | |||||||||||||||||
Series A-4 preferred OP units [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Equity, Preferred OP unit, conversion price | $56.25 | |||||||||||||||||
Equity, preferred return rate | 6.50% | |||||||||||||||||
Series A-4 preferred stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Equity, preferred OP stock, conversion price | 56.25 | |||||||||||||||||
Equity, preferred return rate | 6.50% | |||||||||||||||||
Repurchase of Equity [Member] | Common Stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Authorized to be repurchased (in shares) | 1,000,000 | |||||||||||||||||
Repurchase Agreements [Member] | Common Stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Remaining number of shares authorized to be repurchased (in shares) | 400,000 | 400,000 | 400,000 | |||||||||||||||
Series A-3 Preferred OP Units [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Noncontrolling Interest, Increase from Equity Issuance or Sale of Parent Equity Interest | 4,000,000 | |||||||||||||||||
Equity, Preferred OP unit, conversion price | $53.75 | |||||||||||||||||
Equity, preferred return rate | 4.50% | |||||||||||||||||
Form S-3 - May 2012 [Member] [Domain] | Common Stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Proposed offering amount from issuing common stock, preferred stock, and debt securities | 100,000,000 | |||||||||||||||||
New shares issued (in shares) | 157,989 | 342,011 | ||||||||||||||||
Weighted average sale price (in dollars per share) | $62.42 | $63.94 | ||||||||||||||||
Proceeds from issuance of common stock | 9,700,000 | 21,500,000 | ||||||||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 43,700,000 | |||||||||||||||||
Series A-4 preferred stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Distributions | 0 | 0 | 0 | |||||||||||||||
Series A-1 Preferred OP Units [Member] | Common OP Units [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 64,335 | |||||||||||||||||
Series A-1 preferred OP units conversion rate | 2.439 | |||||||||||||||||
Series A-1 Preferred OP Units [Member] | Series A-1 Preferred OP Units [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 26,379 | |||||||||||||||||
Green Courte [Member] | Common Stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
New shares issued (in shares) | 361,797 | |||||||||||||||||
Weighted average sale price (in dollars per share) | $50 | |||||||||||||||||
Green Courte [Member] | Common OP Units [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Weighted average sale price (in dollars per share) | $50 | |||||||||||||||||
Preferred Operating Partnership Units Issued - Acquisitions | 501,130 | |||||||||||||||||
Green Courte [Member] | Series A-4 preferred OP units [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Weighted average sale price (in dollars per share) | $25 | |||||||||||||||||
Green Courte [Member] | Series A-4 preferred stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Weighted average sale price (in dollars per share) | $25 | |||||||||||||||||
Series A-4 preferred stock, shares issued | 483,317 | |||||||||||||||||
Preferred Units, Issued | 669,449 | |||||||||||||||||
Conversion of Common OP Units [Member] | Common OP Units [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 9,110 | 0 | ||||||||||||||||
Registered public offering [Member] | Common Stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
New shares issued (in shares) | 630,000 | 6,900,000 | 4,200,000 | 5,750,000 | ||||||||||||||
Weighted average sale price (in dollars per share) | $50.60 | $44.45 | $45.25 | |||||||||||||||
Proceeds from issuance of common stock | $348,900,000 | $214,000,000 | $249,500,000 | |||||||||||||||
Underwriters [Member] | Registered public offering [Member] | Common Stock [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
New shares issued (in shares) | 900,000 |
ShareBased_Compensation_Narrat
Share-Based Compensation , Narrative (Details) (USD $) | 12 Months Ended | 1 Months Ended | 0 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 28, 2014 | Jun. 20, 2013 | Jul. 24, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Proceeds from Stock Options Exercised | $127,000 | $201,000 | $166,000 | |||
Share-based Compensation Expense | 4,900,000 | 3,200,000 | 1,500,000 | |||
Director Plans [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of Shares Available for Grant | 75,674 | |||||
Number of Shares Authorized | 175,000 | |||||
2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of Shares Available for Grant | 240,820 | |||||
Number of Shares Authorized | 950,000 | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted shares | 117,250 | 371,300 | 44,600 | |||
Weighted Average Grant Date Fair Value | $49.97 | $47.19 | $40.93 | |||
Share-based Compensation Expense | 4,900,000 | 3,200,000 | 1,400,000 | |||
Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted shares | 45,250 | |||||
Weighted Average Grant Date Fair Value | $52.54 | |||||
Stock Compensation Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Exercises in Period | -12,250 | -9,700 | -16,256 | |||
2004 non-employee plan [Member] | Stock Compensation Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Proceeds from Stock Options Exercised | $100,000 | |||||
Exercises in Period | -6,833 | |||||
Director [Member] | Restricted Stock [Member] | Director Plans [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted shares | 14,000 | |||||
Weighted Average Grant Date Fair Value | $48.01 | |||||
Chief Executive Officer [Member] | Performance Shares [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted shares | 50,000 | 175,000 | ||||
Chief Executive Officer [Member] | Market Condition Shares [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted shares | 50,000 | |||||
Chief Executive Officer [Member] | Service-based Shares [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted shares | 75,000 | |||||
Chief Executive Officer [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted shares | 250,000 | |||||
Executive Officer [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted shares | 58,000 | |||||
Weighted Average Grant Date Fair Value | $48.93 | |||||
2019 [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Rights, Percentage | 20.00% | |||||
2019 [Member] | Executive Officer [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Rights, Percentage | 30.00% | |||||
June 20, 2020 [Member] | Chief Executive Officer [Member] | Service-based Shares [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted shares | 150,000 | |||||
June 20, 2020 [Member] | Chief Executive Officer [Member] | Market and Performance Shares [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted shares | 100,000 | |||||
2020 [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Rights, Percentage | 5.00% | |||||
2020 [Member] | Executive Officer [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Rights, Percentage | 35.00% | |||||
2021 [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Rights, Percentage | 5.00% | |||||
2021 [Member] | Executive Officer [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Rights, Percentage | 10.00% | |||||
2018 [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Rights, Percentage | 35.00% | |||||
2018 [Member] | Executive Officer [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Rights, Percentage | 20.00% | |||||
2022 [Member] | Executive Officer [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Rights, Percentage | 5.00% | |||||
2017 [Member] | Restricted Stock [Member] | 2009 Equity Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Rights, Percentage | 35.00% |
ShareBased_Compensation_Restri
Share-Based Compensation Restricted Stock Activity (Details) (USD $) | 12 Months Ended | 0 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 20, 2013 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||||
Share-based Compensation Expense | $4.90 | $3.20 | $1.50 | ||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||||
Weighted Average Grant Date Fair Value, Unvested | $43.87 | $41.14 | $30.88 | $28.93 | |
Unvested restricted shares | 688,743 | 631,956 | 310,507 | 275,871 | |
Granted shares | 117,250 | 371,300 | 44,600 | ||
Vested in Period | -55,488 | -37,291 | -8,750 | ||
Weighted Average Grant Date Fair Value, Vested | $25.57 | $16.87 | $19.92 | ||
Forfeited in Period | -4,975 | -12,560 | 1,214 | ||
Weighted Average Exercise Price, Forfeitures | $38.45 | $38.47 | $37.04 | ||
Share-based Compensation Expense | 4.9 | 3.2 | 1.4 | ||
Compensation Cost Not yet Recognized | 21.1 | ||||
Vested in Period, Total Fair Value | 1.4 | 0.6 | 0.2 | ||
Within 12 Months [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||||
Compensation Cost Not yet Recognized | 5.3 | ||||
More than One and within Two Years [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||||
Compensation Cost Not yet Recognized | 4.7 | ||||
More than Two and Within Three Years [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||||
Compensation Cost Not yet Recognized | 4.6 | ||||
More than three years [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||||
Compensation Cost Not yet Recognized | $6.50 | ||||
2009 Equity Plan [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||||
Granted shares | 45,250 | ||||
Chief Executive Officer [Member] | 2009 Equity Plan [Member] | Performance Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||||
Granted shares | 50,000 | 175,000 | |||
Chief Executive Officer [Member] | 2009 Equity Plan [Member] | Market Condition Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||||
Granted shares | 50,000 | ||||
Chief Executive Officer [Member] | 2009 Equity Plan [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||||
Granted shares | 250,000 | ||||
2016-2018 [Member] | Chief Executive Officer [Member] | 2009 Equity Plan [Member] | Performance Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Award Vesting Rights | 12500 | ||||
2015-2018 [Member] | Chief Executive Officer [Member] | 2009 Equity Plan [Member] | Market Condition Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Award Vesting Rights | 16667 |
ShareBased_Compensation_Stock_
Share-Based Compensation Stock Option Activity (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Exercises in Period, Total Intrinsic Value | $300,000 | $200,000 | $200,000 | |
Stock Compensation Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding options | 32,500 | 46,250 | 55,950 | 77,086 |
Weighted Average Exercise Price, Options | $29.56 | $30.77 | $29.19 | $29.64 |
Grants in Period, Net of Forfeitures | 0 | 0 | 0 | |
Weighted Average Exercise Price, Grants | $0 | $0 | $0 | |
Exercises in Period | 12,250 | 9,700 | 16,256 | |
Weighted Average Exercise Price, Exercises | $33.40 | $21.67 | $30.12 | |
Forfeitures and Expirations in Period, Options | 1,500 | 0 | 4,880 | |
Weighted Average Exercise Price, Forfeitures | $35.44 | $0 | $33.16 | |
Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $29.56 | |||
Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 4 years 2 months 26 days | |||
Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 1,004,000 | |||
Exercisable Options | 32,500 | |||
Options, Exercisable, Weighted Average Exercise Price | $29.56 | |||
Options, Exercisable, Weighted Average Remaining Contractual Term | 4 years 2 months 26 days | |||
Options, Exercisable, Intrinsic Value | $1,004,000 | $500,000 | $500,000 | |
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding options | 0 | |||
2004 non-employee plan [Member] | Stock Compensation Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding options | 32,500 | |||
Award Vesting Period | 3 years | |||
Option maximum contractual term | P10Y | |||
Exercises in Period | 6,833 |
Segment_Reporting_Segment_Repo
Segment Reporting Segment Reporting (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | ||||||||||||||||||||
Revenues | $450,960,000 | $400,449,000 | $327,497,000 | |||||||||||||||||
Operating expenses/Cost of sales | 189,141,000 | 170,653,000 | 141,105,000 | |||||||||||||||||
Net operating income/Gross profit | 261,819,000 | 229,796,000 | 186,392,000 | |||||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||||||||
Other revenues | 20,715,000 | 14,773,000 | 11,455,000 | |||||||||||||||||
General and Administrative Expense | -42,622,000 | -35,854,000 | -28,353,000 | |||||||||||||||||
Transaction costs | -18,259,000 | -3,928,000 | -4,296,000 | |||||||||||||||||
Depreciation and amortization | -133,726,000 | -110,078,000 | -89,674,000 | |||||||||||||||||
Asset impairment charge | -837,000 | 0 | 0 | |||||||||||||||||
Interest expense | -73,771,000 | -73,339,000 | -67,859,000 | |||||||||||||||||
Interest on mandatorily redeemable debt | -3,210,000 | -3,238,000 | -3,321,000 | |||||||||||||||||
Gain on disposition of properties, net | 3,138,000 | [1] | 13,631,000 | [1] | 885,000 | [1] | 0 | [1] | 17,654,000 | 0 | 0 | |||||||||
Gain on settlement | 4,452,000 | 0 | 0 | 0 | 4,452,000 | 0 | 0 | |||||||||||||
Distributions from affiliate | 0 | [2] | 400,000 | [2] | 400,000 | [2] | 400,000 | [2] | 700,000 | [2],[3] | 700,000 | [2],[3] | 450,000 | [2],[3] | 400,000 | [2],[3] | 1,200,000 | 2,250,000 | 3,900,000 | |
Provision for state income taxes | -219,000 | -234,000 | -249,000 | |||||||||||||||||
Net income | 33,196,000 | 20,148,000 | 7,995,000 | |||||||||||||||||
Less: Preferred return to Series A-1 preferred OP units | 2,654,000 | 2,598,000 | 2,329,000 | |||||||||||||||||
Less: Preferred return to Series A-3 preferred OP units | 181,000 | 166,000 | 0 | |||||||||||||||||
Less: Preferred return to Series A-4 preferred OP units | 100,000 | 0 | 0 | |||||||||||||||||
Less: Amounts attributable to noncontrolling interests | 1,752,000 | 718,000 | -318,000 | |||||||||||||||||
Less: Preferred stock distributions | 6,133,000 | 6,056,000 | 1,026,000 | |||||||||||||||||
Net income attributable to Sun Communities, Inc. | -13,069,000 | 22,671,000 | 4,928,000 | 7,846,000 | 82,000 | [3] | 3,749,000 | [3] | 1,035,000 | [3] | 5,744,000 | [3] | 28,509,000 | 16,666,000 | 5,984,000 | |||||
Net income attributable to Sun Communities, Inc. common stockholders | 22,376,000 | 10,610,000 | 4,958,000 | |||||||||||||||||
Identifiable assets: | ||||||||||||||||||||
Investment property, net | 2,568,164,000 | 1,755,052,000 | 2,568,164,000 | 1,755,052,000 | ||||||||||||||||
Cash and cash equivalents | 83,459,000 | 4,753,000 | 83,459,000 | 4,753,000 | 29,508,000 | 5,857,000 | ||||||||||||||
Inventory of manufactured homes | 8,860,000 | 5,810,000 | 8,860,000 | 5,810,000 | ||||||||||||||||
Notes and other receivables, net | 174,857,000 | 162,141,000 | 174,857,000 | 162,141,000 | ||||||||||||||||
Other assets | 102,352,000 | 67,148,000 | 102,352,000 | 67,148,000 | ||||||||||||||||
TOTAL ASSETS | 2,937,692,000 | 1,994,904,000 | 2,937,692,000 | 1,994,904,000 | ||||||||||||||||
Real Property Operations Segment [Member] | ||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Transient RV Revenue | 31,600,000 | 31,600,000 | ||||||||||||||||||
Transient RV Rental Revenue Recognized, Percentage | 13.10% | 43.30% | 18.30% | 25.30% | ||||||||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | ||||||||||||||||||||
Revenues | 357,793,000 | 313,097,000 | 255,761,000 | |||||||||||||||||
Operating expenses/Cost of sales | 125,315,000 | 109,921,000 | 88,046,000 | |||||||||||||||||
Net operating income/Gross profit | 232,478,000 | 203,176,000 | 167,715,000 | |||||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||||||||
Other revenues | 20,715,000 | 14,773,000 | 11,455,000 | |||||||||||||||||
General and Administrative Expense | -31,769,000 | -25,941,000 | -20,037,000 | |||||||||||||||||
Transaction costs | -18,251,000 | -3,928,000 | -4,296,000 | |||||||||||||||||
Depreciation and amortization | -88,695,000 | -73,729,000 | -61,039,000 | |||||||||||||||||
Asset impairment charge | -837,000 | |||||||||||||||||||
Interest expense | -73,752,000 | -73,001,000 | -67,756,000 | |||||||||||||||||
Interest on mandatorily redeemable debt | -3,210,000 | -3,238,000 | -3,321,000 | |||||||||||||||||
Gain on disposition of properties, net | 17,447,000 | |||||||||||||||||||
Gain on settlement | 4,452,000 | |||||||||||||||||||
Distributions from affiliate | 1,200,000 | 2,250,000 | 3,900,000 | |||||||||||||||||
Provision for state income taxes | -219,000 | -234,000 | -249,000 | |||||||||||||||||
Net income | 59,559,000 | 40,128,000 | 26,372,000 | |||||||||||||||||
Less: Preferred return to Series A-1 preferred OP units | 2,654,000 | 2,598,000 | 2,329,000 | |||||||||||||||||
Less: Preferred return to Series A-3 preferred OP units | 181,000 | 166,000 | ||||||||||||||||||
Less: Preferred return to Series A-4 preferred OP units | 100,000 | |||||||||||||||||||
Less: Amounts attributable to noncontrolling interests | 3,698,000 | 2,450,000 | 1,640,000 | |||||||||||||||||
Less: Preferred stock distributions | 6,133,000 | 6,056,000 | 1,026,000 | |||||||||||||||||
Net income attributable to Sun Communities, Inc. | 52,926,000 | 34,914,000 | 22,403,000 | |||||||||||||||||
Net income attributable to Sun Communities, Inc. common stockholders | 46,793,000 | 28,858,000 | 21,377,000 | |||||||||||||||||
Identifiable assets: | ||||||||||||||||||||
Investment property, net | 2,207,526,000 | 1,460,628,000 | 2,207,526,000 | 1,460,628,000 | ||||||||||||||||
Cash and cash equivalents | 81,864,000 | 5,336,000 | 81,864,000 | 5,336,000 | ||||||||||||||||
Inventory of manufactured homes | 0 | 0 | 0 | 0 | ||||||||||||||||
Notes and other receivables, net | 163,713,000 | 151,980,000 | 163,713,000 | 151,980,000 | ||||||||||||||||
Other assets | 97,485,000 | 62,554,000 | 97,485,000 | 62,554,000 | ||||||||||||||||
TOTAL ASSETS | 2,550,588,000 | 1,680,498,000 | 2,550,588,000 | 1,680,498,000 | ||||||||||||||||
Home Sales and Home Rentals Segment [Member] | ||||||||||||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | ||||||||||||||||||||
Revenues | 93,167,000 | 87,352,000 | 71,736,000 | |||||||||||||||||
Operating expenses/Cost of sales | 63,826,000 | 60,732,000 | 53,059,000 | |||||||||||||||||
Net operating income/Gross profit | 29,341,000 | 26,620,000 | 18,677,000 | |||||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||||||||
Other revenues | 0 | 0 | 0 | |||||||||||||||||
General and Administrative Expense | -10,853,000 | -9,913,000 | -8,316,000 | |||||||||||||||||
Transaction costs | -8,000 | 0 | 0 | |||||||||||||||||
Depreciation and amortization | -45,031,000 | -36,349,000 | -28,635,000 | |||||||||||||||||
Asset impairment charge | 0 | |||||||||||||||||||
Interest expense | -19,000 | -338,000 | -103,000 | |||||||||||||||||
Interest on mandatorily redeemable debt | 0 | 0 | 0 | |||||||||||||||||
Gain on disposition of properties, net | 207,000 | |||||||||||||||||||
Gain on settlement | 0 | |||||||||||||||||||
Distributions from affiliate | 0 | 0 | 0 | |||||||||||||||||
Provision for state income taxes | 0 | 0 | 0 | |||||||||||||||||
Net income | -26,363,000 | -19,980,000 | -18,377,000 | |||||||||||||||||
Less: Preferred return to Series A-1 preferred OP units | 0 | 0 | 0 | |||||||||||||||||
Less: Preferred return to Series A-3 preferred OP units | 0 | 0 | ||||||||||||||||||
Less: Preferred return to Series A-4 preferred OP units | 0 | |||||||||||||||||||
Less: Amounts attributable to noncontrolling interests | -1,946,000 | -1,732,000 | -1,958,000 | |||||||||||||||||
Less: Preferred stock distributions | 0 | 0 | ||||||||||||||||||
Net income attributable to Sun Communities, Inc. | -24,417,000 | -18,248,000 | -16,419,000 | |||||||||||||||||
Net income attributable to Sun Communities, Inc. common stockholders | -24,417,000 | -18,248,000 | -16,419,000 | |||||||||||||||||
Identifiable assets: | ||||||||||||||||||||
Investment property, net | 360,638,000 | 294,424,000 | 360,638,000 | 294,424,000 | ||||||||||||||||
Cash and cash equivalents | 1,595,000 | -583,000 | 1,595,000 | -583,000 | ||||||||||||||||
Inventory of manufactured homes | 8,860,000 | 5,810,000 | 8,860,000 | 5,810,000 | ||||||||||||||||
Notes and other receivables, net | 11,144,000 | 10,161,000 | 11,144,000 | 10,161,000 | ||||||||||||||||
Other assets | 4,867,000 | 4,594,000 | 4,867,000 | 4,594,000 | ||||||||||||||||
TOTAL ASSETS | $387,104,000 | $314,406,000 | $387,104,000 | $314,406,000 | ||||||||||||||||
[1] | (2) During the second quarter of 2014, we recorded a gain on disposition of properties, net of $0.9 million. In the fourth quarter of 2014, we identified and recorded a revision to this gain of $3.2 million. Had this revision been recorded in the second quarter instead of the fourth quarter, our basic and diluted earnings per share would have been income of $0.20 in the second quarter and a loss of $0.34 in the fourth quarter. Management of the Company concluded that the effect of the fourth quarter revision was not material to the second and fourth quarter 2014 financial statements. | |||||||||||||||||||
[2] | (1) Refer to Note 7 for more information regarding distributions from affiliate. | |||||||||||||||||||
[3] | (3) Financial information includes certain reclassifications to conform to current period presentation. |
Income_Taxes_Narrative_Details
Income Taxes , Narrative (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||
Minimum Percent of Income From Qualifying Sources to Allow For Real Estate Investment Trust Classification | 95.00% | ||
Operating Loss Carryforwards | $77,100,000 | ||
Deferred Tax Assets, Operating Loss Carryforwards | 26,214,000 | 24,237,000 | |
Required Minimum Percent of Taxable Income Distributed to Stock Holders | 90.00% | ||
Provision for state income taxes | ($219,000) | ($234,000) | ($249,000) |
Income_Taxes_Charaterization_o
Income Taxes Charaterization of Distributions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Contingency [Line Items] | |||
Dividends per common share: | $2.60 | $2.52 | $1.89 |
Percent of Total Dividends Paid | 100.00% | 100.00% | 100.00% |
Ordinary Income [Member] | |||
Income Tax Contingency [Line Items] | |||
Dividends per common share: | $0.82 | $0.87 | $0.92 |
Percent of Total Dividends Paid | 31.70% | 34.60% | 48.70% |
Capital Gains [Member] | |||
Income Tax Contingency [Line Items] | |||
Dividends per common share: | $0.64 | $0 | $0 |
Percent of Total Dividends Paid | 24.60% | 0.00% | 0.00% |
Return of Capital [Member] | |||
Income Tax Contingency [Line Items] | |||
Dividends per common share: | $1.14 | $1.65 | $0.97 |
Percent of Total Dividends Paid | 43.70% | 65.40% | 51.30% |
Income_Taxes_Deferred_Tax_Asse
Income Taxes Deferred Tax Assets and Liabilities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | $77,100,000 | |
Deferred Tax Assets, Net [Abstract] | ||
Deferred Tax Assets, Operating Loss Carryforwards | 26,214,000 | 24,237,000 |
Deferred Tax Assets, Real estate | 29,092,000 | 23,999,000 |
Deferred Tax Liabilities, Goodwill and Intangible Assets, Intangible Assets | -128,000 | -128,000 |
Deferred Tax Assets, Gross | 55,178,000 | 48,108,000 |
Deferred Tax Assets, Valuation Allowance | -54,178,000 | -47,108,000 |
Deferred Tax Assets, Net | $1,000,000 | $1,000,000 |
Earnings_Per_Share_Calculation
Earnings Per Share , Calculation of Numerator and Denominator (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Numerator | |||||||||||||||
Basic earnings: net income attributable to common stockholders | $22,376 | $10,610 | $4,958 | ||||||||||||
Income (loss) Attributable to Common Stockholders Allocable To Non Vested Restricted Shares | -127 | -144 | 58 | ||||||||||||
Net income attributable to common shareholders after restricted stock allocation | 22,249 | 10,466 | 5,016 | ||||||||||||
Allocation of income to restricted stock awards | 127 | 144 | -58 | ||||||||||||
Amounts attributable to Seris A-4 Preferred Stock | 76 | 0 | 0 | ||||||||||||
Diluted earnings: net income attributable to common stockholders after allocation | $22,452 | $10,610 | $4,958 | ||||||||||||
Denominator | |||||||||||||||
Weighted average common shares outstanding | 41,337 | 34,228 | 26,970 | ||||||||||||
Add: dilutive stock options | 16 | 15 | 17 | ||||||||||||
Add: dilutive restricted stock | 237 | 167 | 138 | ||||||||||||
Add: dilutive Series A-4 Preferred Stock | 215 | 0 | 0 | ||||||||||||
Diluted weighted average common shares and securities | 41,805 | 34,410 | 27,125 | ||||||||||||
Basic | ($0.27) | $0.54 | $0.12 | $0.21 | $0 | [1] | $0.10 | [1] | $0.03 | [1] | $0.19 | [1] | $0.54 | $0.31 | $0.19 |
Diluted | ($0.27) | $0.54 | $0.12 | $0.21 | $0 | [1] | $0.10 | [1] | $0.03 | [1] | $0.19 | [1] | $0.54 | $0.31 | $0.18 |
[1] | (3) Financial information includes certain reclassifications to conform to current period presentation. |
Earnings_Per_Share_Antidilutiv
Earnings Per Share , Antidilutive Securities Excluded from Computation of Loss Per Share (Details) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 4,983 | 3,889 | 3,851 |
Common OP Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,561 | 2,069 | 2,071 |
Series A-1 Preferred OP Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 429 | 455 | 455 |
Series A-3 Preferred OP Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 40 | 40 | 0 |
Series A-4 preferred OP units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 669 | 0 | 0 |
Aspen Preferred OP Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,284 | 1,325 | 1,325 |
Quarterly_Financial_Informatio2
Quarterly Financial Information Schedule (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||
Total revenues | $119,672 | $125,435 | $115,387 | $111,181 | $104,957 | [1] | $107,201 | [1] | $100,151 | [1] | $102,913 | [1] | $471,675 | $415,222 | $338,952 | ||||
Total expenses | 139,267 | 112,655 | 108,993 | 100,651 | 102,976 | [1] | 101,841 | [1] | 97,290 | [1] | 94,983 | [1] | 461,566 | 397,090 | 334,608 | ||||
Income (loss) before income taxes and distributions from affiliate | -19,595 | 12,780 | 6,394 | 10,530 | 1,981 | [1] | 5,360 | [1] | 2,861 | [1] | 7,930 | [1] | 10,109 | 18,132 | 4,344 | ||||
Distributions from affiliate | 0 | [2] | 400 | [2] | 400 | [2] | 400 | [2] | 700 | [1],[2] | 700 | [1],[2] | 450 | [1],[2] | 400 | [1],[2] | 1,200 | 2,250 | 3,900 |
Gain on disposition of properties, net | 3,138 | [3] | 13,631 | [3] | 885 | [3] | 0 | [3] | 17,654 | 0 | 0 | ||||||||
Gain on settlement | 4,452 | 0 | 0 | 0 | 4,452 | 0 | 0 | ||||||||||||
Net income attributable to Sun Communities, Inc. | ($13,069) | $22,671 | $4,928 | $7,846 | $82 | [1] | $3,749 | [1] | $1,035 | [1] | $5,744 | [1] | $28,509 | $16,666 | $5,984 | ||||
Earnings per share, Basic | ($0.27) | $0.54 | $0.12 | $0.21 | $0 | [1] | $0.10 | [1] | $0.03 | [1] | $0.19 | [1] | $0.54 | $0.31 | $0.19 | ||||
Earnings per share, Diluted | ($0.27) | $0.54 | $0.12 | $0.21 | $0 | [1] | $0.10 | [1] | $0.03 | [1] | $0.19 | [1] | $0.54 | $0.31 | $0.18 | ||||
[1] | (3) Financial information includes certain reclassifications to conform to current period presentation. | ||||||||||||||||||
[2] | (1) Refer to Note 7 for more information regarding distributions from affiliate. | ||||||||||||||||||
[3] | (2) During the second quarter of 2014, we recorded a gain on disposition of properties, net of $0.9 million. In the fourth quarter of 2014, we identified and recorded a revision to this gain of $3.2 million. Had this revision been recorded in the second quarter instead of the fourth quarter, our basic and diluted earnings per share would have been income of $0.20 in the second quarter and a loss of $0.34 in the fourth quarter. Management of the Company concluded that the effect of the fourth quarter revision was not material to the second and fourth quarter 2014 financial statements. |
Quarterly_Financial_Informatio3
Quarterly Financial Information Narrative (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||
Gain on disposition of properties, net | $3,138 | [1] | $13,631 | [1] | $885 | [1] | $0 | [1] | $17,654 | $0 | $0 | ||||||||
Earnings per share, Diluted | ($0.27) | $0.54 | $0.12 | $0.21 | $0 | [2] | $0.10 | [2] | $0.03 | [2] | $0.19 | [2] | $0.54 | $0.31 | $0.18 | ||||
Scenario, Actual [Member] | |||||||||||||||||||
Gain on disposition of properties, net | 900 | ||||||||||||||||||
Scenario, Adjustment [Member] | |||||||||||||||||||
Gain on disposition of properties, net | $3,200 | ||||||||||||||||||
Earnings per share, Diluted | $0.34 | $0.20 | |||||||||||||||||
[1] | (2) During the second quarter of 2014, we recorded a gain on disposition of properties, net of $0.9 million. In the fourth quarter of 2014, we identified and recorded a revision to this gain of $3.2 million. Had this revision been recorded in the second quarter instead of the fourth quarter, our basic and diluted earnings per share would have been income of $0.20 in the second quarter and a loss of $0.34 in the fourth quarter. Management of the Company concluded that the effect of the fourth quarter revision was not material to the second and fourth quarter 2014 financial statements. | ||||||||||||||||||
[2] | (3) Financial information includes certain reclassifications to conform to current period presentation. |
Derivative_Instruments_And_Hed2
Derivative Instruments And Hedging Activities , Derivative Contracts (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Interest Rate Swap [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional Amount of Derivatives | $20 | |
Interest Rate Cap [Member] | Derivative Maturing 2015 [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional Amount of Derivatives | 152.4 | |
Derivative, Type | Cap | |
Derivative, Purpose | Cap Floating Rate | |
Derivative, Effective Date | 1-Apr-12 | |
Derivative, Maturity Date | 1-Apr-15 | |
Derivative, Based on | 3 Month LIBOR | |
Derivative, Variable Rate | 0.23% | |
Derivative, Fixed Rate | 11.27% | |
Derivative, Spread on Variable Rate | 0.00% | |
Interest Rate Cap [Member] | Derivative Maturing 2016 [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional Amount of Derivatives | 10 | |
Derivative, Type | Cap | |
Derivative, Purpose | Cap Floating Rate | |
Derivative, Effective Date | 3-Oct-11 | |
Derivative, Maturity Date | 3-Oct-16 | |
Derivative, Based on | 3 Month LIBOR | |
Derivative, Variable Rate | 0.23% | |
Derivative, Fixed Rate | 11.02% | |
Derivative, Spread on Variable Rate | 0.00% | |
Other Assets [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Collateral Already Posted, Aggregate Fair Value | $0 | $0.70 |
Derivative_Instruments_And_Hed3
Derivative Instruments And Hedging Activities , Balance Sheet Location (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $0 | $0 |
Derivative Liabilities | 0 | 97,000 |
Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 0 | 0 |
Collateral deposits recorded in other assets | 0 | 700,000 |
Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 97,000 | |
Reported Value Measurement [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | $0 | $97,000 |
Derivative_Instruments_And_Hed4
Derivative Instruments And Hedging Activities , Statement of Operation Location (Details) (Interest rate swaps and cap agreement [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of Gain or (Loss) Recognized in OCI (Effective Portion) | $97 | $362 | $643 |
Interest expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | $0 | $0 | $0 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments , By Balance Sheet Grouping (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notes and other receivables, net | $174,857 | $162,141 |
Financial liabilities | ||
Derivative Liabilities | 0 | 97 |
Secured debt | 1,826,293 | 1,311,437 |
Reported Value Measurement [Member] | ||
Financial liabilities | ||
Long term debt excluding secured borrowings | 1,702,643 | 1,200,927 |
Lines of credit | 5,794 | 181,383 |
Reported Value Measurement [Member] | Installment notes receivable on manufactured homes, net [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notes and other receivables, net | 25,884 | 25,471 |
Reported Value Measurement [Member] | Collateralized receivables [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notes and other receivables, net | 122,962 | 109,821 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | ||
Financial liabilities | ||
Derivative Liabilities | 0 | 97 |
Long term debt excluding secured borrowings | 1,752,939 | 1,211,821 |
Secured debt | 123,649 | 110,510 |
Lines of credit | 5,794 | 181,383 |
Estimate of Fair Value Measurement [Member] | Installment notes receivable on manufactured homes, net [Member] | Fair Value, Measurements, Recurring [Member] | ||
Financial assets | ||
Receivables | 25,884 | 25,471 |
Estimate of Fair Value Measurement [Member] | Collateralized receivables [Member] | Fair Value, Measurements, Recurring [Member] | ||
Financial assets | ||
Receivables | 122,962 | 109,821 |
Other liabilities [Member] | ||
Financial liabilities | ||
Derivative Liabilities | 97 | |
Other liabilities [Member] | Reported Value Measurement [Member] | ||
Financial liabilities | ||
Derivative Liabilities | 0 | 97 |
Secured Debt [Member] | ||
Financial liabilities | ||
Secured debt | 123,650 | 110,500 |
Secured Debt [Member] | Reported Value Measurement [Member] | ||
Financial liabilities | ||
Secured debt | $123,650 | $110,510 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments , Measurement Inputs (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Liabilities | $0 | ($97) |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Liabilities | 0 | -97 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Liabilities | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative Liabilities | $0 | ($97) |
Commitments_And_Contingencies_
Commitments And Contingencies (Details) (TJ Holdings, LLC [Member], USD $) | 1 Months Ended |
Jun. 30, 2010 | |
Loss Contingencies [Line Items] | |
Payments for Legal Settlements | $360,000 |
Minimum [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Settlement Agreement, Ownership Percentage, After Qualifying Event with Joint Venture Properties | 9.03% |
Maximum [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Settlement Agreement, Closing Stock Price Determination, Period Preceeding Qualifying Event with Joint Venture Properties | 30 days |
Loss Contingency, Settlement Agreement, Ownership Percentage, After Qualifying Event with Joint Venture Properties | 28.99% |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Chief Executive Officer [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Equity Interest in Office Space, Percentage | 21.00% | ||
Director [Member] | |||
Related Party Transaction [Line Items] | |||
Legal Fees | $7,500,000 | $3,200,000 | $3,400,000 |
Management [Member] | |||
Related Party Transaction [Line Items] | |||
Square Footage of Office Space | 62,900 | ||
Operating Leases, Rent Expense | 1,000,000 | 700,000 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 1,100,000 | ||
Operating Leases, Future Minimum Payments Due, Current | 1,000,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 1,200,000 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 8,800,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 1,100,000 | ||
Origen Financial Services [Member] | |||
Related Party Transaction [Line Items] | |||
Equity Method Investment, Ownership Percentage | 22.90% | ||
Investment carrying value | 0 | ||
Origen Financial Services [Member] | Equity Method Investee [Member] | |||
Related Party Transaction [Line Items] | |||
Equity Method Investments, Number of Unrelated Members | 4 | ||
Cash contribution | 600,000 | ||
Equity Method Investment, Ownership Percentage | 22.90% | ||
Investment carrying value | 0 | ||
Loan Fee Amount, Per Loan | 650 | ||
Payments of Loan Costs | 100,000 | ||
Payments to Acquire Loans, par value | 7,700,000 | ||
Origen Financial [Member] | |||
Related Party Transaction [Line Items] | |||
Equity Method Investment, Ownership Percentage | 19.00% | ||
Investment carrying value | 0 | ||
Investment owned (in shares) | 5,000,000 | ||
Origen Financial [Member] | Equity Method Investee [Member] | |||
Related Party Transaction [Line Items] | |||
Equity Method Investment, Ownership Percentage | 19.00% | ||
Investment carrying value | $0 | ||
Investment owned (in shares) | 5,000,000 | ||
Origen Financial [Member] | Chief Executive Officer [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transactions, Related Party Ownership in Equity Method Investment | 1,025,000 | ||
Origen Financial [Member] | Mr. Klein [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transactions, Related Party Ownership in Equity Method Investment | 570,000 | ||
Origen Financial [Member] | Mr. Weiss [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transactions, Related Party Ownership in Equity Method Investment | 10,000 | ||
Origen Financial [Member] | Mr. Hermelin [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transactions, Related Party Ownership in Equity Method Investment | 200,000 | ||
September 1, 2015 to October 31, 2016 [Member] | Management [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transactions, Current and Future Base Rent | 17.45 | ||
November 1, 2014 to August 31, 2015 [Member] | Management [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transactions, Current and Future Base Rent | 16.95 | ||
Through October 31, 2014 [Member] | Management [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transactions, Current and Future Base Rent | 16.45 | ||
Month to month [Member] | Management [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transactions, Current and Future Base Rent | 12.71 | ||
Month to month [Member] | Management [Member] | |||
Related Party Transaction [Line Items] | |||
Square Footage of Office Space | 10,500 |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 04, 2014 | Jan. 14, 2015 | Jan. 06, 2015 | |
Rate | Rate | Rate | ||||
Subsequent Event [Line Items] | ||||||
Debt assumed in acquisition | $209,658,000 | $0 | $62,826,000 | |||
Weighted average interest rate | 5.10% | 5.30% | ||||
Number of Units in Real Estate Property | 79,554 | |||||
Debt weighted average to maturity, length | 7 years 6 months | 7 years 2 months 12 days | ||||
Berger [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Number of Manufactured Home Communities | seven | |||||
Number of units | 3150 | |||||
Percentage of sites occupied | 96.00% | |||||
Number of Potential Sites in Community | 380 | |||||
Business Acquisition [Member] | Green Courte - Second Closing [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Number of Units in Real Estate Property | 10,000 | |||||
Disposition of Property [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Proceeds from sale of properties | 17,300,000 | |||||
Number of Units in Real Estate Property | 798 | |||||
Series of Individually Immaterial Business Acquisitions [Member] | Berger [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Business Combination, Expected Total Consideration | 260,000,000 | |||||
Age-restricted community [Member] | Berger [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Percentage of units | 60.00% | |||||
Debt [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Berger [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Business Combination, Expected Total Consideration | 158,000,000 | |||||
Collateralized term loans - CMBS [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Weighted average interest rate | 5.30% | 5.30% | ||||
Debt weighted average to maturity, length | 5 years 4 months 24 days | 5 years 10 months 24 days | ||||
Collateralized term loans - CMBS [Member] | Business Acquisition [Member] | Green Courte - Second Closing [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Number of properties securing a debt instument (in properties) | 13 | |||||
Debt assumed in acquisition | 149,900,000 | |||||
Weighted average interest rate | 5.74% | |||||
Debt Instrument, Face Amount | 120,900,000 | |||||
Stated interest rate | 3.87% | |||||
Debt Instrument, Term | 14 years 1 month 6 days | |||||
Debt weighted average to maturity, length | 6 years 3 months 25 days | |||||
Proceeds from Issuance of Debt | 126,000,000 | |||||
Cash [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Berger [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Business Combination, Expected Total Consideration | 42,000,000 | |||||
Berger [Member] | Common OP Units [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Weighted average sale price (in dollars per share) | 61 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 60.00% | |||||
Berger [Member] | Series C preferred OP units [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Weighted average sale price (in dollars per share) | 100 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 40.00% | |||||
Series C preferred OP units [Domain] | ||||||
Subsequent Event [Line Items] | ||||||
Equity, Preferred OP unit, conversion price | 1.1111 | |||||
2015-2017 [Member] | Series C preferred OP units [Domain] | ||||||
Subsequent Event [Line Items] | ||||||
Equity, preferred return rate | 4.00% | |||||
2018-2020 [Member] | Series C preferred OP units [Domain] | ||||||
Subsequent Event [Line Items] | ||||||
Equity, preferred return rate | 4.50% | |||||
After 5 years [Member] | Series C preferred OP units [Domain] | ||||||
Subsequent Event [Line Items] | ||||||
Equity, preferred return rate | 5.00% |
SCHEDULE_III_Schedule_of_Prope
SCHEDULE III Schedule of Property (Details) (USD $) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2000 | Dec. 31, 1996 | Dec. 31, 2011 | Dec. 31, 1999 | Dec. 31, 2013 | Dec. 31, 1994 | Dec. 31, 2012 | Dec. 31, 1998 | Dec. 31, 1995 | Dec. 31, 1985 | Dec. 31, 2001 | Dec. 31, 1997 | Dec. 31, 1993 | Dec. 31, 2004 | Dec. 31, 1986 | Dec. 31, 1978 | Dec. 31, 1987 | Dec. 31, 1984 | Dec. 31, 1989 | Dec. 31, 2002 | Dec. 31, 1980 | Dec. 31, 2010 | Dec. 31, 2006 | Dec. 31, 2005 | Dec. 31, 1990 | |
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | $325,135,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,044,542,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 8,208,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 986,032,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 333,343,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,030,574,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 3,363,917,000 | 1,794,605,000 | 2,489,119,000 | 2,177,305,000 | ||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 795,753,000 | 597,999,000 | 734,067,000 | 659,169,000 | ||||||||||||||||||||||
Academy/Westpoint [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,485,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,278,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 7,882,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,485,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,160,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 23,645,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,663,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
Allendale [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 366,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,684,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 11,260,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 366,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,944,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 15,310,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,738,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Alpine [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 729,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,692,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 9,532,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 729,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 16,224,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 16,953,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,391,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Apple Carr Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 800,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,172,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,499,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 800,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,671,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,471,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,381,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 3,511,000 | |||||||||||||||||||||||||
Apple Creek [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 543,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,480,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,205,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 543,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,685,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,228,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,310,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1999 | |||||||||||||||||||||||||
Arbor Terrace [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 456,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,410,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,516,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 456,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,926,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,382,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,043,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Ariana Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 240,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,195,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,207,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 240,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,402,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 3,642,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,841,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 5,915,000 | |||||||||||||||||||||||||
Autumn Ridge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 890,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,054,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -33,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,241,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 857,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,295,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 12,152,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,614,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Bell Crossing [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 717,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,916,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -13,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 9,077,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 704,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,993,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,697,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,965,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1999 | |||||||||||||||||||||||||
Big Timber Lake [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 590,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,308,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,216,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 590,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,524,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 23,114,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,268,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Blazing Star [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 750,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,163,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,205,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 750,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,368,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,118,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 692,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 3,913,000 | |||||||||||||||||||||||||
Blue Star [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 980,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 507,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 980,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 507,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 1,487,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 2,681,000 | |||||||||||||||||||||||||
Blueberry Hill [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,830,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,240,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,839,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,830,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,079,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,909,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 509,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Boulder Ridge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,000,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 500,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 3,324,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 23,427,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,324,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,927,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 28,251,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,825,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Branch Creek [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 796,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,716,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 5,260,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 796,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,976,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,772,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,885,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1995 | |||||||||||||||||||||||||
Brentwood [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 385,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,592,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,648,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 385,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,240,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,625,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,255,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Brentwood West [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 13,620,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,202,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 13,620,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,204,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 37,824,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 424,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 20,043,000 | |||||||||||||||||||||||||
Brookside Village, Goshen, IN [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 260,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,080,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 386,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 13,133,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 646,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,213,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,859,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,660,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1985 | |||||||||||||||||||||||||
Brookside Village, Kentwood, MI [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 170,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,564,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 706,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 170,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,270,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,440,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 815,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Buttonwood Bay [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,952,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,294,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 5,251,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,952,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,545,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 25,497,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,905,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2001 | |||||||||||||||||||||||||
Byron Center [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 253,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,402,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,544,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 253,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,946,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,199,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,412,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Camelot Villa [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 910,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,211,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,864,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 910,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,075,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 26,985,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,418,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Candlelight Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 600,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,623,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 7,305,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 600,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,928,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,528,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,998,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Candlewick Court [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 125,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,900,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 132,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,876,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 257,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,776,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,033,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,685,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1985 | |||||||||||||||||||||||||
Carriage Cove [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,050,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,235,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 356,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,050,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,591,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 27,641,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 369,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 17,652,000 | |||||||||||||||||||||||||
Carrington Pointe [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,076,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,632,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 8,178,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,076,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,810,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 12,886,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,242,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Casa Del Valle [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 246,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,316,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,835,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 246,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,151,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 4,397,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,538,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Castaways [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 14,320,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,277,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,096,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 14,320,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,373,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 38,693,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 518,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 22,537,000 | |||||||||||||||||||||||||
Catalina [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 653,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,858,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,979,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 653,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,837,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,490,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,782,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1993 | |||||||||||||||||||||||||
Cave Creek [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,241,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,343,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 14,021,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,241,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,364,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,605,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,132,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2004 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Chisholm Point [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 609,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,286,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 5,788,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 609,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,074,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,683,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,070,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1995 | |||||||||||||||||||||||||
Cider Mill Crossings [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 520,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,568,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 12,480,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 520,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,048,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,568,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,956,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Cider Mill Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 250,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,590,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,926,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 250,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,516,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,766,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 883,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Clearwater Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 80,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,270,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 61,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 5,401,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 141,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,671,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,812,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,812,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1986 | |||||||||||||||||||||||||
Club Naples [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,780,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,952,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,613,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,780,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,565,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 12,345,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 834,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Cobus Green [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 762,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,037,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 6,892,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 762,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,929,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,691,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,669,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1993 | |||||||||||||||||||||||||
College Park Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 75,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 800,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 174,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 9,778,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 249,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,578,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 10,827,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,288,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1978 | |||||||||||||||||||||||||
Colonial Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 60,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,760,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 60,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,760,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,820,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 99,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 4,225,000 | |||||||||||||||||||||||||
Comal Farms [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,455,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,732,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 8,994,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,455,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,726,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 12,181,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,313,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
Continental North (1) [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 749,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,089,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 11,031,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 749,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,120,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 17,869,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,807,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Corporate Headquarters [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 20,425,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,425,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 20,425,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,745,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | Various | |||||||||||||||||||||||||
Country Acres [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 380,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,495,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,213,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 380,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,708,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,088,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,142,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Country Hills Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 340,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,861,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,084,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 340,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,945,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,285,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,153,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Country Meadows [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 924,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,583,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 296,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 18,652,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,220,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 26,235,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 27,455,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,217,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
Country Meadows Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 550,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,555,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,308,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 550,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,863,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,413,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,339,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Countryside Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 320,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,610,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 122,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 320,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,732,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 12,052,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 199,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 7,020,000 | |||||||||||||||||||||||||
Countryside Atlanta [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,274,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,957,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,476,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,274,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,433,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,707,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,515,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2004 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 12,950,000 | |||||||||||||||||||||||||
Countryside Gwinnett [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,124,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,539,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,266,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,124,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,805,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,929,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,285,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2004 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 10,182,000 | |||||||||||||||||||||||||
Countryside Lake Lanier [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,916,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,357,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 9,008,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,916,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,365,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 27,281,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,272,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2004 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 16,810,000 | |||||||||||||||||||||||||
Countryside Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 430,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,157,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 430,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,159,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,589,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 124,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 4,237,000 | |||||||||||||||||||||||||
Creekside [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 350,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,423,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -331,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | -1,149,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 19,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 274,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 293,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 51,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
Creekwood Meadows [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 808,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,043,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 404,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 13,100,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,212,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,143,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 16,355,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,629,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Cutler Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 749,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,941,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,276,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 749,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,217,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 10,966,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,441,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Deerfield Run [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 990,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,607,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 5,483,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 990,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,090,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,080,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,934,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1999 | |||||||||||||||||||||||||
Desert Harbor [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,940,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,891,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,940,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,891,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 18,831,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 258,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 11,850,000 | |||||||||||||||||||||||||
Driftwood RV Resort [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,450,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,851,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,578,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,450,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 31,429,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,879,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 618,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 20,000,000 | |||||||||||||||||||||||||
Dutton Mill Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 370,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,997,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,752,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 370,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,749,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,119,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,404,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Eagle Crest [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,015,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 150,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 35,333,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,015,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 35,483,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 37,498,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 13,481,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
East Fork [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,280,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,302,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 13,967,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,280,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,269,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,549,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,265,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
East Village Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,410,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,413,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,013,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,410,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,426,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,836,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,634,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 21,031,000 | |||||||||||||||||||||||||
Edwardsville [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 425,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,805,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 541,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 8,849,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 966,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,654,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 18,620,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,872,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1987 | |||||||||||||||||||||||||
Egelcraft [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 690,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,596,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 430,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 690,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,026,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 23,716,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 385,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 10,577,000 | |||||||||||||||||||||||||
Fiesta Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,830,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,475,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,830,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,475,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,305,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 79,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Fisherman's Cove [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 380,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,438,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,682,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 380,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,120,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,500,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,841,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1993 | |||||||||||||||||||||||||
Forest Meadows [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,031,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,050,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 790,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,031,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,840,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 3,871,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,448,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1999 | |||||||||||||||||||||||||
Four Seasons [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 500,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,811,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,823,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 500,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,634,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,134,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,205,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
Frenchtown Villa District [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,450,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 52,327,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,088,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,450,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 53,415,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 54,865,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 896,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 30,975,000 | |||||||||||||||||||||||||
Glen Laurel [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,641,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 453,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 15,310,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,641,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,763,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 17,404,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,158,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2001 | |||||||||||||||||||||||||
Goldcoaster [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 446,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,234,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 172,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,379,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 618,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,613,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,231,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,894,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Grand [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 374,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,587,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,429,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 374,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,016,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,390,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,151,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Grand Lakes [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,280,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,501,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,079,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,280,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,580,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,860,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 653,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
The Grove at Alta Ridge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,370,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 37,152,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 102,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,370,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,254,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 42,624,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 630,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 28,640,000 | |||||||||||||||||||||||||
Groves [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 249,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,396,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,450,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 249,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,846,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,095,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,873,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Gwynn's Island [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 760,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 595,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,275,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 760,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,870,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 2,630,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 127,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Hamlin [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 125,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,675,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 536,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 9,863,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 661,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,538,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 12,199,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,713,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1984 | |||||||||||||||||||||||||
Hickory Hills Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 760,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,697,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,077,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 760,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,774,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 10,534,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,365,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 4,242,000 | |||||||||||||||||||||||||
Hidden Ridge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 440,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 893,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 974,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 440,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,867,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 2,307,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 222,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
High Point [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 898,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,031,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -42,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 5,892,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 856,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,923,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,779,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,092,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 17,282,000 | |||||||||||||||||||||||||
Holiday Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 100,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,207,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 143,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,972,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 243,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,179,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,422,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,618,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1986 | |||||||||||||||||||||||||
Holiday West Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 340,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,067,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,432,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 340,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,499,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,839,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,321,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Holly/Hawaiian Gardens [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,514,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,596,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,146,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,514,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 16,742,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 18,256,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,569,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2004 | |||||||||||||||||||||||||
Holly Forest [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 920,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,376,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 600,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 920,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,976,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,896,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,105,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Hunters Crossing [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 430,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,092,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 752,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 430,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,844,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 2,274,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 169,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Hunters Glen [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,102,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,926,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 5,621,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,102,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,547,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 18,649,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,021,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2004 | |||||||||||||||||||||||||
Indian Creek [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,832,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,660,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 8,153,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,832,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 42,813,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 46,645,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 22,665,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 69,012,000 | |||||||||||||||||||||||||
indian Creek (OH) [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 420,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,791,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,984,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 420,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,775,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 23,195,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,251,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Island Lake [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 700,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,431,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 557,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 700,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,988,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,688,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,309,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1995 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 12,816,000 | |||||||||||||||||||||||||
Jellystone [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 870,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,884,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,549,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 870,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,433,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,303,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 763,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 7,146,000 | |||||||||||||||||||||||||
Jellystone at Birchwood [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 560,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,527,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,345,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 560,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,872,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,432,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 454,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 4,179,000 | |||||||||||||||||||||||||
Kensington Meadows [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 250,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,699,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 8,421,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 250,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,120,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,370,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,535,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1995 | |||||||||||||||||||||||||
Kenwood [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 145,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,842,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -111,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | -869,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 34,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 973,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 1,007,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 43,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1999 | |||||||||||||||||||||||||
King's Court [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,473,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,782,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -11,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,042,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,462,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,824,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 19,286,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 10,180,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
King's Lake [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 280,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,542,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,868,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 280,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,410,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,690,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,870,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 9,859,000 | |||||||||||||||||||||||||
Knollwood Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 400,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,061,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,379,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 400,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,440,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,840,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,191,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2001 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 2,664,000 | |||||||||||||||||||||||||
La Casa Blanca [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,370,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,142,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,370,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,144,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 18,514,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 246,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 9,593,000 | |||||||||||||||||||||||||
Lafayette Place [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 669,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,979,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 5,170,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 669,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,149,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,818,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,285,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Lake In Wood [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,360,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,097,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,045,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,360,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,142,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 15,502,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 770,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 11,013,000 | |||||||||||||||||||||||||
Lake Juliana [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 335,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,048,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,726,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 335,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,774,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,109,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,674,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
Lake Laurie RV Resort [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 650,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,736,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,157,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 650,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,893,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,543,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 742,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Lake Rudolph RV Resort & Campground [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,340,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,113,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,137,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,340,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 29,250,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,590,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 783,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 18,352,000 | |||||||||||||||||||||||||
Lake San Marino [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 650,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,760,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,002,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 650,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,762,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,412,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,833,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Lakeshore Landings [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,570,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,481,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,570,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,483,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,053,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 337,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 10,705,000 | |||||||||||||||||||||||||
Lakeview [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,156,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,903,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -1,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,611,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,155,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,514,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 16,669,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,520,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2004 | |||||||||||||||||||||||||
Leisure Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 360,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,219,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 241,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 360,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,460,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,820,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,033,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Liberty Farms [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 66,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,201,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 116,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,992,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 182,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,193,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 4,375,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,327,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1985 | |||||||||||||||||||||||||
Lincoln Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 455,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,201,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,842,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 455,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,043,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,498,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,588,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Lost Dutchman [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,140,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,213,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 6,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,140,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,219,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 16,359,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 213,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 4,084,000 | |||||||||||||||||||||||||
Maple Brook [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 8,460,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 48,865,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 8,460,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 48,868,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 57,328,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 844,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 29,614,000 | |||||||||||||||||||||||||
Maplewood Mobile [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 275,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,122,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,212,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 275,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,334,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 4,609,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,549,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1989 | |||||||||||||||||||||||||
Maplewood Manor [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,770,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,982,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,770,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,982,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,752,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 225,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 8,325,000 | |||||||||||||||||||||||||
Meadow Lake Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,188,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,498,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 127,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 8,951,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,315,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,449,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,764,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 11,548,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
Meadowbrook [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,310,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,570,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 14,192,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,310,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,762,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,072,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,371,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
Meadowbrook Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 431,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,320,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 379,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 12,148,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 810,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,468,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 16,278,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,104,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1986 | |||||||||||||||||||||||||
Meadowbrook Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 519,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,728,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 660,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 519,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,388,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,907,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,565,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
Meadows [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 287,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,300,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,107,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 287,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,407,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,694,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,760,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1987 | |||||||||||||||||||||||||
Merrymeeting [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 250,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,020,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 250,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 1,020,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 1,270,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 18,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Mountain View [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,490,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,325,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,490,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,327,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 17,817,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 216,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 11,378,000 | |||||||||||||||||||||||||
Naples Gardens [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,640,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,020,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,111,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 3,640,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,131,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,771,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 391,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
New Point RV Resort [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,550,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,259,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,845,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,550,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,104,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,654,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 492,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
North Lake Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,150,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,486,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 985,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,150,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,471,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,621,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 592,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
North Point Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,582,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,027,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,968,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,582,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,995,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,577,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,845,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2001 | |||||||||||||||||||||||||
Northville Crossing [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,250,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,564,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -14,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 9,717,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,236,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 39,281,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 40,517,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,693,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 20,565,000 | |||||||||||||||||||||||||
Oak Creek [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,760,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,185,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,760,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,185,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 15,945,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 195,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 9,914,000 | |||||||||||||||||||||||||
Oak Crest [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,311,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,611,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 11,109,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,311,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,720,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 28,031,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,485,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2002 | |||||||||||||||||||||||||
Oak Island Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 320,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,843,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,145,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 320,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,988,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,308,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,216,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 3,291,000 | |||||||||||||||||||||||||
Oak Ridge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,090,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,941,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,090,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,944,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 38,034,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 637,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 10,557,000 | |||||||||||||||||||||||||
Oakwood Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,964,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,401,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 13,129,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,964,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,530,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,494,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,642,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Orange City [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 920,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,540,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,262,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 920,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,802,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,722,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 838,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Orange Tree [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 283,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,530,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 15,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 973,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 298,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,503,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 3,801,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,146,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Orchard Lake [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 395,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,025,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -15,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 885,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 380,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,910,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,290,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,191,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1999 | |||||||||||||||||||||||||
Palm Creek [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 11,836,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 76,143,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 5,097,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 11,836,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 81,240,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 93,076,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,956,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 41,945,000 | |||||||||||||||||||||||||
Parkside Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 550,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,402,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 550,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,402,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 10,952,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 179,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 5,745,000 | |||||||||||||||||||||||||
Paso Robles RV Resort [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,396,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,396,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 1,396,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Pebble Creek [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,030,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,074,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 6,996,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,030,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,070,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,100,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,407,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
Pecan Branch [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,379,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 235,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,984,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,614,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,984,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,598,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,312,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1999 | |||||||||||||||||||||||||
Peter's Pond RV Resort [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,700,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,840,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,032,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,700,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 25,872,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 30,572,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,670,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Pheasant Ridge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,044,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,279,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 495,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,044,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,774,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,818,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,233,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2002 | |||||||||||||||||||||||||
Pin Oak Parc [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,038,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,250,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 467,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 10,879,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,505,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,129,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 15,634,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,892,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
Pine Hills [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 72,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 544,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 60,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,195,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 132,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,739,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 3,871,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,956,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1980 | |||||||||||||||||||||||||
Pine Ridge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 405,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,397,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,829,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 405,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 6,226,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,631,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,155,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1986 | |||||||||||||||||||||||||
Pine Trace [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,907,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,169,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -5,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 11,785,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,902,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,954,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 31,856,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,472,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2004 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Pinebrook Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 130,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,692,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,507,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 130,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,199,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 7,329,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 931,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Presidential [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 680,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,314,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 6,204,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 680,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,518,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,198,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,102,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
RainbowRV [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,890,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,682,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,989,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,890,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,671,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,561,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 678,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Rancho Mirage [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 7,510,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,238,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 7,510,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,239,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,749,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 386,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 15,491,000 | |||||||||||||||||||||||||
Reserve at Fox Creek [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,950,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,074,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,950,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,074,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,024,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 346,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 9,049,000 | |||||||||||||||||||||||||
Richmond [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 501,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,040,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,835,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 501,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,875,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 4,376,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,934,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
River Haven [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,800,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,967,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 6,854,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,800,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 23,821,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 25,621,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,778,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2001 | |||||||||||||||||||||||||
River Ranch [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 4,690,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 843,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -4,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 35,438,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,686,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,281,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 40,967,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,701,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
River Ridge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 3,201,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,090,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -2,351,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 7,212,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 850,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,302,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 23,152,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,423,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2002 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 9,632,000 | |||||||||||||||||||||||||
River Ridge Expansion [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 2,351,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,503,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,351,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,503,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 6,854,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 466,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2010 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Roxbury [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,057,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,870,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,873,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,057,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,743,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,800,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,531,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2001 | |||||||||||||||||||||||||
Royal Country [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,290,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,758,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,773,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,290,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,531,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 24,821,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 15,079,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 54,000,000 | |||||||||||||||||||||||||
Rudgate Clinton [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,090,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,664,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,758,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,090,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 28,422,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 29,512,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,580,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 27,832,000 | |||||||||||||||||||||||||
Rudgate Manor [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,440,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,110,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 6,748,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,440,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,858,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,298,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,393,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 16,653,000 | |||||||||||||||||||||||||
Saco RV Resort [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 790,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,576,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 731,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 790,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,307,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,097,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 119,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Saddle Oak Club [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 730,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,743,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,324,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 730,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,067,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,797,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,996,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1995 | |||||||||||||||||||||||||
Saddlebrook [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,703,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,843,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 9,565,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,703,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,408,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 23,111,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,460,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2002 | |||||||||||||||||||||||||
Scio Farms [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,300,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,659,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -11,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 13,944,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,289,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 36,603,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 38,892,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 19,390,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1995 | |||||||||||||||||||||||||
Sea Air [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,207,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,179,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,984,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,207,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,163,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,370,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,005,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 20,000,000 | |||||||||||||||||||||||||
Seaport RV Resort [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 120,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 290,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,130,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 120,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 2,420,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 2,540,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 224,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Seashore RV Resort [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,030,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,228,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 982,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,030,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,210,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 25,240,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 455,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Sheffield [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 778,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,165,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,570,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 778,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,735,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,513,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,706,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2006 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Sherman Oaks [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 200,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,400,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 240,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 7,108,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 440,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,508,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,948,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,306,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1986 | |||||||||||||||||||||||||
Siesta Bay [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,051,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,549,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,393,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,051,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,942,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 23,993,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 12,103,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Silver Springs [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 861,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,595,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,512,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 861,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 21,107,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,968,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,028,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 7,984,000 | |||||||||||||||||||||||||
Silver Star [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,022,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,306,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,029,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,022,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,335,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,357,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,987,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Sky Harbor [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,318,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,253,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 172,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,318,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 24,425,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 26,743,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 418,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 16,352,000 | |||||||||||||||||||||||||
Skyline [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,260,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,120,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,260,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,122,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,382,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 210,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 10,435,000 | |||||||||||||||||||||||||
Snow to Sun [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 190,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,143,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 13,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,003,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 203,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,146,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 4,349,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,654,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Southfork [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | D | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,000,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,011,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 6,063,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,000,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,074,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 16,074,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,475,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Southern Hills [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 360,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,723,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 442,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 360,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,165,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,525,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 216,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 8,000,000 | |||||||||||||||||||||||||
Southwood Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 300,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,517,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,841,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 300,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,358,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,658,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,693,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 5,531,000 | |||||||||||||||||||||||||
St. Clair Place [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 501,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,029,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,297,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 501,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,326,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 3,827,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,852,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Stonebridge, San Antonio, TX [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,515,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,096,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -615,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 9,021,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,900,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,117,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,017,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,722,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
Stonebridge, Richfield Township, MI [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,044,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 2,227,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 4,271,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 4,271,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 0 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Summit Ridge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,615,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,092,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -883,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 18,545,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,732,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 20,637,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 22,369,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,162,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
Sun Valley [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,750,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,408,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,750,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,409,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,159,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 318,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 10,679,000 | |||||||||||||||||||||||||
Sun Villa [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,385,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,773,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -1,100,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 906,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,285,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,679,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,964,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,750,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 18,300,000 | |||||||||||||||||||||||||
Sunset Ridge, Kyle, TX [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,190,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,775,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 7,603,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,190,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,378,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 12,568,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,442,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
Sunset Ridge, Portland, MI [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,044,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -9,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 15,681,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,035,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,681,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 17,716,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,728,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Swan Meadow [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,140,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,734,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 58,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,140,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 19,792,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,932,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 318,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 14,325,000 | |||||||||||||||||||||||||
Sycamore Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 390,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,341,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,280,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 390,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 16,621,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 17,011,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,215,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 5,867,000 | |||||||||||||||||||||||||
Tamarac Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 300,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,028,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 85,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,550,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 385,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,578,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,963,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,653,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 5,409,000 | |||||||||||||||||||||||||
Tampa East [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 734,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,310,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,727,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 734,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,037,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 10,771,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,905,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2005 | |||||||||||||||||||||||||
Three Lakes [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 5,050,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,361,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,575,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 5,050,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,936,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,986,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 506,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Thunderhill Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 640,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,008,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 205,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 640,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,213,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,853,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 155,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 5,775,000 | |||||||||||||||||||||||||
Timber Ridge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 990,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,231,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,571,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 990,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,802,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 14,792,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,483,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Timberline Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 535,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,867,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 5,829,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 535,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,696,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,231,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 5,081,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
Town and Country [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | E | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 406,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,736,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,407,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 406,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,143,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,549,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,927,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1996 | |||||||||||||||||||||||||
Town & Country Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 230,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,539,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 230,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,539,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 4,769,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 78,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 2,700,000 | |||||||||||||||||||||||||
Valley View [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 110,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,511,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 78,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 110,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 4,589,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 4,699,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 78,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 4,225,000 | |||||||||||||||||||||||||
Valley Brook [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 150,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,500,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 1,277,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 14,015,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,427,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 17,515,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 18,942,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 9,984,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1989 | |||||||||||||||||||||||||
Village Trails [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 988,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,472,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -51,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,141,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 937,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,613,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 4,550,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,893,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
The Villas at Calla Pointe [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 380,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,014,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 0 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 380,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 11,014,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,394,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 189,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 4,318,000 | |||||||||||||||||||||||||
Vines RV Resort [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 890,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,110,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 662,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 890,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,772,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,662,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 408,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Wagon Wheel [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 590,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,703,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,541,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 590,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,244,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 10,834,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 684,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Warren Dunes Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 310,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,350,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,706,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 310,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,056,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,366,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 762,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Water Oak [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,834,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,706,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 101,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 17,142,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,935,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 33,848,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 36,783,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 16,699,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1993 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 54,000,000 | |||||||||||||||||||||||||
Waverly Shores Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 340,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,267,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 518,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 340,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,785,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,125,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 988,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 4,986,000 | |||||||||||||||||||||||||
West Glen Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | A | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,100,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,028,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 8,022,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,100,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,050,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 19,150,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,898,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1994 | |||||||||||||||||||||||||
West Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 884,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,765,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,649,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 884,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 22,414,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 23,298,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,060,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2012 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 6,424,000 | |||||||||||||||||||||||||
Westbrook [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,110,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,462,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,919,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,110,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 14,381,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 15,491,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,654,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1999 | |||||||||||||||||||||||||
Westbrook Senior [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 355,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,295,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 311,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 355,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 3,606,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 3,961,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,587,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2001 | |||||||||||||||||||||||||
Westward Ho RV Resort [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,050,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,642,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,509,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,050,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 7,151,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 8,201,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 457,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
White Lake [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 672,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,179,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 9,259,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 672,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,438,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 16,110,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,380,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Wild Acres [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,640,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,786,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,607,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,640,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 30,393,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 32,033,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,136,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2013 | |||||||||||||||||||||||||
Wildwood Community [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,890,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 37,732,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,890,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 37,735,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 39,625,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 651,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 21,364,000 | |||||||||||||||||||||||||
Willowbrook [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 781,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,054,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,579,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 781,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,633,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,414,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 4,918,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Windham Hills [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 2,673,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,364,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 15,985,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 2,673,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 18,349,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 21,022,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,473,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Windsor Woods Village [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 270,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,835,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 3,560,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 270,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 9,395,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,665,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 1,261,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2011 | |||||||||||||||||||||||||
Wine Country [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,740,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,510,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 561,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,740,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 12,071,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,811,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 234,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2014 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances | 0 | |||||||||||||||||||||||||
Woodhaven Place [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 501,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,541,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 4,160,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 501,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 8,701,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 9,202,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 3,746,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Woodlake Trails [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,186,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 287,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -56,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 10,474,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,130,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 10,761,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 11,891,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,793,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 2000 | |||||||||||||||||||||||||
Woodland Park Estates [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | 1811 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,592,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,398,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 1,138,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,592,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,536,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 17,128,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 8,346,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1998 | |||||||||||||||||||||||||
Woods Edge [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | C | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 100,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,600,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 3,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 10,592,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 103,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 13,192,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 13,295,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 6,588,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1985 | |||||||||||||||||||||||||
Woodside Terrace [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 1,064,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,625,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | -1,000 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 6,195,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 1,063,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 15,820,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 16,883,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 7,408,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1997 | |||||||||||||||||||||||||
Worthington Arms [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Encumbrances Information | B | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Land | 376,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,624,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Land | 0 | |||||||||||||||||||||||||
SEC Schedule III Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Buildings and Improvements | 2,912,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land | 376,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements | 5,536,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements | 5,912,000 | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Accumulated Depreciation | 2,871,000 | |||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired | 1990 | |||||||||||||||||||||||||
Real Estate Accumulated Depreciation Encumbrances by Group Category One [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances For a Group of Properties | 158,500,000 | |||||||||||||||||||||||||
Real Estate Accumulated Depreciation Encumbrances by Group Category Two [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances For a Group of Properties | 308,100,000 | |||||||||||||||||||||||||
Real Estate Accumulated Depreciation Encumbrances by Group Category Three [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances For a Group of Properties | 0 | |||||||||||||||||||||||||
Real Estate Accumulated Depreciation Encumbrances by Group Category Four [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances For a Group of Properties | 109,400,000 | |||||||||||||||||||||||||
Real Estate Accumulated Depreciation Encumbrances by Group Category Five [Member] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Amount of Encumbrances For a Group of Properties | $141,500,000 |
SCHEDULE_III_Investment_proper
SCHEDULE III Investment property reconciliation (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Beginning balance | $2,489,119 | $2,177,305 | $1,794,605 |
Community and land acquisitions, including immediate improvements | 798,827 | 192,660 | 302,487 |
Community expansion and development | 22,195 | 17,985 | 13,424 |
Improvements, other | 173,989 | 145,916 | 110,029 |
Asset impairment | -1,870 | 0 | 0 |
Dispositions and other | -118,343 | -44,747 | -43,240 |
Ending balance | $3,363,917 | $2,489,119 | $2,177,305 |
SCHEDULE_III_Accumulated_depre
SCHEDULE III Accumulated depreciation reconciliation (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Real Estate and Accumulated Depreciation [Line Items] | |||
Beginning balance | $734,067 | $659,169 | $597,999 |
Depreciation for the period | 121,103 | 96,499 | 80,124 |
Asset impairment | -1,033 | 0 | 0 |
Dispositions and other | -58,384 | -21,601 | -18,954 |
Ending balance | $795,753 | $734,067 | $659,169 |