Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 21, 2014 | Jun. 30, 2013 | |
Entity Registrant Name | 'EQUITY RESIDENTIAL | ' | ' |
Entity Central Index Key | '0000906107 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $20,500,000,000 |
Entity Common Stock, Shares Outstanding | ' | 361,079,202 | ' |
OPERATING PARTNERSHIP | ' | ' | ' |
Entity Registrant Name | 'ERP OPERATING LIMITED PARTNERSHIP | ' | ' |
Entity Central Index Key | '0000931182 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investment in real estate | ' | ' |
Land | $6,192,512 | $4,554,912 |
Depreciable property | 19,226,047 | 15,711,944 |
Projects under development | 988,867 | 387,750 |
Land held for development | 393,522 | 353,823 |
Real Estate Investment Property, at Cost | 26,800,948 | 21,008,429 |
Real Estate Investment Property, Accumulated Depreciation | -4,807,709 | -4,912,221 |
Investment in real estate, net | 21,993,239 | 16,096,208 |
Cash and cash equivalents | 53,534 | 612,590 |
Investments in unconsolidated entities | 178,526 | 17,877 |
Deposits - restricted | 103,567 | 250,442 |
Escrow deposits - mortgage | 42,636 | 9,129 |
Deferred financing costs, net | 58,486 | 44,382 |
Other assets | 404,557 | 170,372 |
Total assets | 22,834,545 | 17,201,000 |
Liabilities: | ' | ' |
Mortgage notes payable | 5,174,166 | 3,898,369 |
Notes, net | 5,477,088 | 4,630,875 |
Lines of credit | 115,000 | 0 |
Accounts payable and accrued expenses | 118,791 | 38,372 |
Accrued interest payable | 78,309 | 76,223 |
Other liabilities | 347,748 | 304,518 |
Security deposits | 71,592 | 66,988 |
Distributions payable | 243,511 | 260,176 |
Total liabilities | 11,626,205 | 9,275,521 |
Redeemable Noncontrolling Interests - Operating Partnership | 363,144 | 398,372 |
Shareholders' equity: | ' | ' |
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 1,000,000 shares issued and outstanding as of December 31, 2013 and December 31, 2012 | 50,000 | 50,000 |
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 360,479,260 shares issued and outstanding as of December 31, 2013 and 325,054,654 shares issued and outstanding as of December 31, 2012 | 3,605 | 3,251 |
Paid in capital | 8,561,500 | 6,542,355 |
Retained earnings | 2,047,258 | 887,355 |
Accumulated other comprehensive (loss) | -155,162 | -193,148 |
Total shareholders' equity | 10,507,201 | 7,289,813 |
Noncontrolling Interests: | ' | ' |
Operating Partnership | 211,412 | 159,606 |
Partially Owned Properties | 126,583 | 77,688 |
Total Noncontrolling Interests | 337,995 | 237,294 |
Total equity | 10,845,196 | 7,527,107 |
Total liabilities and equity | $22,834,545 | $17,201,000 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Shareholders' equity: | ' | ' |
Preferred Shares of beneficial interest, par value | $0.01 | $0.01 |
Preferred Shares of beneficial interest, shares authorized | 100,000,000 | 100,000,000 |
Preferred Shares of beneficial interest, shares issued | 1,000,000 | 1,000,000 |
Preferred Shares of beneficial interest, shares outstanding | 1,000,000 | 1,000,000 |
Common Shares of beneficial interest, par value | $0.01 | $0.01 |
Common Shares of beneficial interest, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common Shares of beneficial interest, shares issued | 360,479,260 | 325,054,654 |
Common Shares of beneficial interest, shares outstanding | 360,479,260 | 325,054,654 |
CONSOLIDATED_BALANCE_SHEETS_OF
CONSOLIDATED BALANCE SHEETS OF ERP OPERATING LIMITED PARTNERSHIP (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Investment in real estate | ' | ' |
Land | $6,192,512,000 | $4,554,912,000 |
Depreciable property | 19,226,047,000 | 15,711,944,000 |
Projects under development | 988,867,000 | 387,750,000 |
Land held for development | 393,522,000 | 353,823,000 |
Real Estate Investment Property, at Cost | 26,800,948,000 | 21,008,429,000 |
Real Estate Investment Property, Accumulated Depreciation | -4,807,709,000 | -4,912,221,000 |
Investment in real estate, net | 21,993,239,000 | 16,096,208,000 |
Cash and cash equivalents | 53,534,000 | 612,590,000 |
Investments in unconsolidated entities | 178,526,000 | 17,877,000 |
Deposits - restricted | 103,567,000 | 250,442,000 |
Escrow deposits - mortgage | 42,636,000 | 9,129,000 |
Deferred financing costs, net | 58,486,000 | 44,382,000 |
Other assets | 404,557,000 | 170,372,000 |
Total assets | 22,834,545,000 | 17,201,000,000 |
Liabilities: | ' | ' |
Mortgage notes payable | 5,174,166,000 | 3,898,369,000 |
Notes, net | 5,477,088,000 | 4,630,875,000 |
Lines of credit | 115,000,000 | 0 |
Accounts payable and accrued expenses | 118,791,000 | 38,372,000 |
Accrued interest payable | 78,309,000 | 76,223,000 |
Other liabilities | 347,748,000 | 304,518,000 |
Security deposits | 71,592,000 | 66,988,000 |
Distributions payable | 243,511,000 | 260,176,000 |
Total liabilities | 11,626,205,000 | 9,275,521,000 |
Partners' Capital: | ' | ' |
Accumulated other comprehensive (loss) | -155,162,000 | -193,148,000 |
Noncontrolling Interests - Partially Owned Properties | 126,583,000 | 77,688,000 |
Total liabilities and equity | 22,834,545,000 | 17,201,000,000 |
OPERATING PARTNERSHIP | ' | ' |
Investment in real estate | ' | ' |
Land | 6,192,512,000 | 4,554,912,000 |
Depreciable property | 19,226,047,000 | 15,711,944,000 |
Projects under development | 988,867,000 | 387,750,000 |
Land held for development | 393,522,000 | 353,823,000 |
Real Estate Investment Property, at Cost | 26,800,948,000 | 21,008,429,000 |
Real Estate Investment Property, Accumulated Depreciation | -4,807,709,000 | -4,912,221,000 |
Investment in real estate, net | 21,993,239,000 | 16,096,208,000 |
Cash and cash equivalents | 53,534,000 | 612,590,000 |
Investments in unconsolidated entities | 178,526,000 | 17,877,000 |
Deposits - restricted | 103,567,000 | 250,442,000 |
Escrow deposits - mortgage | 42,636,000 | 9,129,000 |
Deferred financing costs, net | 58,486,000 | 44,382,000 |
Other assets | 404,557,000 | 170,372,000 |
Total assets | 22,834,545,000 | 17,201,000,000 |
Liabilities: | ' | ' |
Mortgage notes payable | 5,174,166,000 | 3,898,369,000 |
Notes, net | 5,477,088,000 | 4,630,875,000 |
Lines of credit | 115,000,000 | 0 |
Accounts payable and accrued expenses | 118,791,000 | 38,372,000 |
Accrued interest payable | 78,309,000 | 76,223,000 |
Other liabilities | 347,748,000 | 304,518,000 |
Security deposits | 71,592,000 | 66,988,000 |
Distributions payable | 243,511,000 | 260,176,000 |
Total liabilities | 11,626,205,000 | 9,275,521,000 |
Redeemable Limited Partners | 363,144,000 | 398,372,000 |
Partners' Capital: | ' | ' |
Preference Units | 50,000,000 | 50,000,000 |
General Partner | 10,612,363,000 | 7,432,961,000 |
Limited Partners | 211,412,000 | 159,606,000 |
Accumulated other comprehensive (loss) | -155,162,000 | -193,148,000 |
Total partners' capital | 10,718,613,000 | 7,449,419,000 |
Noncontrolling Interests - Partially Owned Properties | 126,583,000 | 77,688,000 |
Total capital | 10,845,196,000 | 7,527,107,000 |
Total liabilities and equity | $22,834,545,000 | $17,201,000,000 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Proceeds from Sale of Available-for-sale Securities | $4,878 | $0 | $4,537 |
REVENUES | ' | ' | ' |
Rental income | 2,378,004 | 1,737,929 | 1,516,194 |
Fee and asset management | 9,698 | 9,573 | 9,026 |
Total revenues | 2,387,702 | 1,747,502 | 1,525,220 |
EXPENSES | ' | ' | ' |
Property and maintenance | 449,461 | 332,190 | 304,380 |
Real estate taxes and insurance | 293,999 | 206,723 | 178,406 |
Property management | 84,342 | 81,902 | 81,867 |
Fee and asset management | 6,460 | 4,663 | 4,279 |
Depreciation | 978,973 | 560,669 | 506,175 |
General and administrative | 62,179 | 47,233 | 43,604 |
Total expenses | 1,875,414 | 1,233,380 | 1,118,711 |
Operating income | 512,288 | 514,122 | 406,509 |
Interest and other income | 4,656 | 150,546 | 7,963 |
Other expenses | -9,105 | -21,692 | -12,400 |
Merger Expenses | -19,864 | -5,619 | -1,736 |
Interest: | ' | ' | ' |
Expense incurred, net | -586,854 | -455,236 | -460,172 |
Amortization of deferred financing costs | -22,197 | -21,295 | -16,616 |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | -121,076 | 160,826 | -76,452 |
Income and other tax (expense) benefit | -1,169 | -514 | -706 |
(Loss) from investments in unconsolidated entities due to operations | -4,159 | -14 | 0 |
(Loss) from investments in unconsolidated entities due to merger expenses | -54,004 | 0 | 0 |
Net gain on sales of unconsolidated entities | 7 | 0 | 0 |
Net gain on sales of land parcels | 12,227 | 0 | 4,217 |
(Loss) income from continuing operations | -168,174 | 160,298 | -72,941 |
Discontinued operations, net | 2,073,527 | 720,906 | 1,008,138 |
Net income | 1,905,353 | 881,204 | 935,197 |
Net (income) loss attributable to Noncontrolling Interests: | ' | ' | ' |
Net (income) Loss Attributable to Noncontrolling Interest | -75,278 | -38,641 | -40,780 |
Net loss (income) attributable to Noncontrolling Interests - Partially Owned Properties | 538 | -844 | -832 |
Net income attributable to controlling interests | 1,830,613 | 841,719 | 893,585 |
Preferred distributions | -4,145 | -10,355 | -13,865 |
Redemption Premium | 0 | -5,152 | 0 |
Net income available to Common Shares | $1,826,468 | $826,212 | $879,720 |
Earnings per share - basic: | ' | ' | ' |
(Loss) income from continuing operations available to Common Shares | ($0.47) | $0.45 | ($0.28) |
Net Income per share - basis | $5.16 | $2.73 | $2.98 |
Weighted average Common Shares outstanding | 354,305 | 302,701 | 294,856 |
Earnings per share - diluted: | ' | ' | ' |
(Loss) income from Continuing Operations, Per Diluted Share | ($0.47) | $0.45 | ($0.28) |
Net income per share - diluted | $5.16 | $2.71 | $2.98 |
Weighted average Common Shares outstanding | 354,305 | 319,766 | 294,856 |
CONSOLIDATED_STATEMENTS_OF_OPE1
CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (USD $) | 12 Months Ended | ||
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
REVENUES | ' | ' | ' |
Rental income | $2,378,004,000 | $1,737,929,000 | $1,516,194,000 |
Fee and asset management | 9,698,000 | 9,573,000 | 9,026,000 |
Total revenues | 2,387,702,000 | 1,747,502,000 | 1,525,220,000 |
EXPENSES | ' | ' | ' |
Property and maintenance | 449,461,000 | 332,190,000 | 304,380,000 |
Real estate taxes and insurance | 293,999,000 | 206,723,000 | 178,406,000 |
Property management | 84,342,000 | 81,902,000 | 81,867,000 |
Fee and asset management | 6,460,000 | 4,663,000 | 4,279,000 |
Depreciation | 978,973,000 | 560,669,000 | 506,175,000 |
General and administrative | 62,179,000 | 47,233,000 | 43,604,000 |
Total expenses | 1,875,414,000 | 1,233,380,000 | 1,118,711,000 |
Operating income | 512,288,000 | 514,122,000 | 406,509,000 |
Interest and other income | 4,656,000 | 150,546,000 | 7,963,000 |
Other expenses | -9,105,000 | -21,692,000 | -12,400,000 |
Merger Expenses | -19,864,000 | -5,619,000 | -1,736,000 |
Interest: | ' | ' | ' |
Expense incurred, net | -586,854,000 | -455,236,000 | -460,172,000 |
Amortization of deferred financing costs | -22,197,000 | -21,295,000 | -16,616,000 |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | -121,076,000 | 160,826,000 | -76,452,000 |
Income and other tax (expense) benefit | -1,169,000 | -514,000 | -706,000 |
(Loss) from investments in unconsolidated entities due to operations | -4,159,000 | -14,000 | 0 |
(Loss) from investments in unconsolidated entities due to merger expenses | -54,004,000 | 0 | 0 |
Net gain on sales of unconsolidated entities | 7,000 | 0 | 0 |
Net gain on sales of land parcels | 12,227,000 | 0 | 4,217,000 |
(Loss) income from continuing operations | -168,174,000 | 160,298,000 | -72,941,000 |
Discontinued operations, net | 2,073,527,000 | 720,906,000 | 1,008,138,000 |
Net income | 1,905,353,000 | 881,204,000 | 935,197,000 |
Net loss (income) attributable to Noncontrolling Interests - Partially Owned Properties | 538,000 | -844,000 | -832,000 |
Net income attributable to controlling interests | 1,830,613,000 | 841,719,000 | 893,585,000 |
ALLOCATION OF NET INCOME: | ' | ' | ' |
Redemption Premium | 0 | 5,152,000 | 0 |
Earnings per Unit - basic: | ' | ' | ' |
(Loss) income from continuing operations available to Common Shares | ($0.47) | $0.45 | ($0.28) |
Net income available to Units | $5.16 | $2.73 | $2.98 |
Earnings per Unit - diluted: | ' | ' | ' |
(Loss) income from Continuing Operations, Per Diluted Share | ($0.47) | $0.45 | ($0.28) |
Net income available to Units | $5.16 | $2.71 | $2.98 |
OPERATING PARTNERSHIP | ' | ' | ' |
REVENUES | ' | ' | ' |
Rental income | 2,378,004,000 | 1,737,929,000 | 1,516,194,000 |
Fee and asset management | 9,698,000 | 9,573,000 | 9,026,000 |
Total revenues | 2,387,702,000 | 1,747,502,000 | 1,525,220,000 |
EXPENSES | ' | ' | ' |
Property and maintenance | 449,461,000 | 332,190,000 | 304,380,000 |
Real estate taxes and insurance | 293,999,000 | 206,723,000 | 178,406,000 |
Property management | 84,342,000 | 81,902,000 | 81,867,000 |
Fee and asset management | 6,460,000 | 4,663,000 | 4,279,000 |
Depreciation | 978,973,000 | 560,669,000 | 506,175,000 |
General and administrative | 62,179,000 | 47,233,000 | 43,604,000 |
Total expenses | 1,875,414,000 | 1,233,380,000 | 1,118,711,000 |
Operating income | 512,288,000 | 514,122,000 | 406,509,000 |
Interest and other income | 4,656,000 | 150,546,000 | 7,963,000 |
Other expenses | -9,105,000 | -21,692,000 | -12,400,000 |
Merger Expenses | -19,864,000 | -5,619,000 | -1,736,000 |
Interest: | ' | ' | ' |
Expense incurred, net | -586,854,000 | -455,236,000 | -460,172,000 |
Amortization of deferred financing costs | -22,197,000 | -21,295,000 | -16,616,000 |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | -121,076,000 | 160,826,000 | -76,452,000 |
Income and other tax (expense) benefit | -1,169,000 | -514,000 | -706,000 |
(Loss) from investments in unconsolidated entities due to operations | -4,159,000 | -14,000 | 0 |
(Loss) from investments in unconsolidated entities due to merger expenses | -54,004,000 | 0 | 0 |
Net gain on sales of unconsolidated entities | 7,000 | 0 | 0 |
Net gain on sales of land parcels | 12,227,000 | 0 | 4,217,000 |
(Loss) income from continuing operations | -168,174,000 | 160,298,000 | -72,941,000 |
Discontinued operations, net | 2,073,527,000 | 720,906,000 | 1,008,138,000 |
Net income | 1,905,353,000 | 881,204,000 | 935,197,000 |
Net loss (income) attributable to Noncontrolling Interests - Partially Owned Properties | 538,000 | -844,000 | -832,000 |
Net income attributable to controlling interests | 1,905,891,000 | 880,360,000 | 934,365,000 |
ALLOCATION OF NET INCOME: | ' | ' | ' |
Preference Units | 4,145,000 | 10,355,000 | 13,865,000 |
Redemption Premium | 0 | 5,152,000 | 0 |
General Partner | 1,826,468,000 | 826,212,000 | 879,720,000 |
Limited Partners | 75,278,000 | 38,641,000 | 40,780,000 |
Net income available to Units | $1,901,746,000 | $864,853,000 | $920,500,000 |
Earnings per Unit - basic: | ' | ' | ' |
(Loss) income from continuing operations available to Common Shares | ($0.47) | $0.45 | ($0.28) |
Net income available to Units | $5.16 | $2.73 | $2.98 |
Weighted average Units outstanding | 368,038 | 316,554 | 308,062 |
Earnings per Unit - diluted: | ' | ' | ' |
(Loss) income from Continuing Operations, Per Diluted Share | ($0.47) | $0.45 | ($0.28) |
Net income available to Units | $5.16 | $2.71 | $2.98 |
Weighted average Units outstanding | 368,038 | 319,766 | 308,062 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] | ' | ' | ' |
Net income | $1,905,353 | $881,204 | $935,197 |
Other comprehensive income (loss) - derivative instruments: | ' | ' | ' |
Unrealized holding gains (losses) arising during the year | 18,771 | -11,772 | -143,598 |
Losses reclassified into earnings from other comprehensive income | 20,141 | 14,678 | 4,343 |
Other comprehensive income (loss) - other instruments: | ' | ' | ' |
Unrealized holding gains arising during the year | 583 | 664 | 355 |
Gain on Sale of Securities, Net | -2,122 | 0 | 0 |
Other comprehensive income b foreign currency: | ' | ' | ' |
Currency translation adjustments arising during the year | 613 | 0 | 0 |
Other comprehensive income (loss) | 37,986 | 3,570 | -138,900 |
Comprehensive income | 1,943,339 | 884,774 | 796,297 |
Comprehensive (income) attributable to Noncontrolling Interests | -74,740 | -39,485 | -41,612 |
Comprehensive income attributable to controlling interests | $1,868,599 | $845,289 | $754,685 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME OF ERP OPERATING LIMITED PARTNERSHIP (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Comprehensive income: | ' | ' | ' |
Net income | $1,905,353 | $881,204 | $935,197 |
Other comprehensive income (loss) - derivative instruments: | ' | ' | ' |
Unrealized holding gains (losses) arising during the year | 18,771 | -11,772 | -143,598 |
Losses reclassified into earnings from other comprehensive income | 20,141 | 14,678 | 4,343 |
Other comprehensive income (loss) - other instruments: | ' | ' | ' |
Unrealized holding gains arising during the year | 583 | 664 | 355 |
Gain on Sale of Securities, Net | -2,122 | 0 | 0 |
Other comprehensive income b foreign currency: | ' | ' | ' |
Currency translation adjustments arising during the year | 613 | 0 | 0 |
Other comprehensive income (loss) | 37,986 | 3,570 | -138,900 |
Comprehensive income | 1,943,339 | 884,774 | 796,297 |
Comprehensive (income) attributable to Noncontrolling Interests | -74,740 | -39,485 | -41,612 |
Comprehensive income attributable to controlling interests | 1,868,599 | 845,289 | 754,685 |
OPERATING PARTNERSHIP | ' | ' | ' |
Comprehensive income: | ' | ' | ' |
Net income | 1,905,353 | 881,204 | 935,197 |
Other comprehensive income (loss) - derivative instruments: | ' | ' | ' |
Unrealized holding gains (losses) arising during the year | 18,771 | -11,772 | -143,598 |
Losses reclassified into earnings from other comprehensive income | 20,141 | 14,678 | 4,343 |
Other comprehensive income (loss) - other instruments: | ' | ' | ' |
Unrealized holding gains arising during the year | 583 | 664 | 355 |
Gain on Sale of Securities, Net | -2,122 | 0 | 0 |
Other comprehensive income b foreign currency: | ' | ' | ' |
Currency translation adjustments arising during the year | 613 | 0 | 0 |
Other comprehensive income (loss) | 37,986 | 3,570 | -138,900 |
Comprehensive income | 1,943,339 | 884,774 | 796,297 |
Comprehensive (income) attributable to Noncontrolling Interests | 538 | -844 | -832 |
Comprehensive income attributable to controlling interests | $1,943,877 | $883,930 | $795,465 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income | $1,905,353,000 | $881,204,000 | $935,197,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 1,013,353,000 | 684,992,000 | 663,616,000 |
Amortization of deferred financing costs | 22,425,000 | 21,435,000 | 17,846,000 |
Amortization of above/below market leases | 898,000 | 0 | 0 |
Amortization of discounts and premiums on debt | -156,439,000 | -8,181,000 | -1,478,000 |
Amortization of deferred settlements on derivative instruments | 19,607,000 | 14,144,000 | 3,808,000 |
Write-off of pursuit costs | 5,184,000 | 9,056,000 | 5,075,000 |
Loss from Investments in Unconsolidated Entities Adjustment | 58,163,000 | 14,000 | 0 |
Distributions from unconsolidated entities - return on capital | 2,481,000 | 575,000 | 319,000 |
Net (Gain) on Sales of Investment Securities/Technology Investments | -4,203,000 | 0 | -4,537,000 |
Net (gain) on sales of unconsolidated entities | -7,000 | 0 | 0 |
Net (gain) loss on sales of land parcels | -12,227,000 | 0 | -4,217,000 |
Net (gain) on sales of discontinued operations | -2,036,505,000 | -548,278,000 | -826,489,000 |
Unrealized loss (gain) on derivative instruments | 70,000 | -1,000 | 186,000 |
Compensation paid with Company Common Shares | 35,474,000 | 24,832,000 | 21,177,000 |
Changes in assets and liabilities: | ' | ' | ' |
Decrease (increase) in deposits - restricted | 3,684,000 | -4,091,000 | 4,523,000 |
Decrease in mortgage deposits | 1,813,000 | 176,000 | 2,133,000 |
Decrease (increase) in other assets | 3,742,000 | -20,411,000 | -2,743,000 |
Increase (decrease) in accounts payable and accrued expenses | 6,229,000 | -2,102,000 | 332,000 |
(Decrease) in accrued interest payable | -9,219,000 | -11,898,000 | -10,510,000 |
Increase (decrease) in other liabilities | 15,401,000 | 2,987,000 | -8,245,000 |
(Decrease) increase in security deposits | -6,361,000 | 1,702,000 | 4,474,000 |
Net cash provided by operating activities | 868,916,000 | 1,046,155,000 | 800,467,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Acquisition of Archstone, net of cash acquired | -4,000,875,000 | 0 | 0 |
Investment in real estate - acquisitions | -108,308,000 | -843,976,000 | -1,441,599,000 |
Investment in real estate - development/other | -377,442,000 | -180,409,000 | -120,741,000 |
Improvements to real estate | -135,816,000 | -152,828,000 | -144,452,000 |
Additions to non-real estate property | -4,134,000 | -8,821,000 | -7,110,000 |
Interest capitalized for real estate and unconsolidated entities under development | -47,321,000 | -22,509,000 | -9,108,000 |
Proceeds from disposition of real estate, net | 4,551,454,000 | 1,049,219,000 | 1,500,583,000 |
Investments in unconsolidated entities | -66,471,000 | -5,291,000 | -2,021,000 |
Distributions from unconsolidated entities b return of capital | 25,471,000 | 0 | 0 |
Proceeds from Sale of Available-for-sale Securities | 4,878,000 | 0 | 4,537,000 |
Decrease (increase) in deposits on real estate acquisitions and investments, net | 143,694,000 | -97,984,000 | 7,631,000 |
Decrease (increase) in mortgage deposits | 7,893,000 | 1,444,000 | -479,000 |
Deconsolidation of previously consolidated properties | 0 | 0 | 28,360,000 |
Acquisition of Noncontrolling Interests - Partially Owned Properties | 0 | -13,000 | -12,809,000 |
Net cash (used for) provided by investing activities | -6,977,000 | -261,168,000 | -197,208,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Loan and bond acquisition costs | -16,526,000 | -21,209,000 | -20,421,000 |
Mortgage Deposits Financing Activities | -5,631,000 | -57,000 | 247,000 |
Mortgage notes payable: | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | 902,886,000 | 26,495,000 | 190,905,000 |
Restricted cash | 0 | 2,370,000 | 16,596,000 |
Lump sum payoffs | -2,532,682,000 | -350,247,000 | -974,956,000 |
Scheduled principal repayments | -12,658,000 | -14,088,000 | -16,726,000 |
Notes, net: | ' | ' | ' |
Proceeds | 1,245,550,000 | 0 | 996,190,000 |
Lump sum payoffs | -400,000,000 | -975,991,000 | -575,641,000 |
Lines of credit: | ' | ' | ' |
Proceeds | 9,832,000,000 | 5,876,000,000 | 1,455,000,000 |
Repayments | -9,717,000,000 | -5,876,000,000 | -1,455,000,000 |
(Payments on) proceeds from settlement of derivative instruments | -44,063,000 | 0 | -147,306,000 |
Proceeds from sale of Common Shares | 0 | 1,417,040,000 | 173,484,000 |
Proceeds from Employee Share Purchase Plan (ESPP) | 3,401,000 | 5,399,000 | 5,262,000 |
Proceeds from exercise of options | 17,252,000 | 49,039,000 | 95,322,000 |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | -150,000,000 | 0 |
Premium on Redemption of Preferred Shares Cash | 0 | -23,000 | 0 |
Payment of offering costs | -1,047,000 | -39,359,000 | -3,596,000 |
Other financing activities, net | -48,000 | -48,000 | -48,000 |
Contributions - Noncontrolling Interests - Partially Owned Properties | 27,660,000 | 8,221,000 | 75,911,000 |
Contributions - Noncontrolling Interests - Operating Partnership | 5,000 | 5,000 | 0 |
Distributions: | ' | ' | ' |
Common Shares | -681,610,000 | -473,451,000 | -432,023,000 |
Preferred Shares | -4,145,000 | -13,416,000 | -12,829,000 |
Noncontrolling Interests b Operating Partnership | -27,897,000 | -21,915,000 | -20,002,000 |
Noncontrolling Interests - Partially Owned Properties | -6,442,000 | -5,083,000 | -1,115,000 |
Net cash (used for) provided by financing activities | -1,420,995,000 | -556,318,000 | -650,746,000 |
Net (decrease) increase in cash and cash equivalents | -559,056,000 | 228,669,000 | -47,487,000 |
Cash and cash equivalents, beginning of year | 612,590,000 | 383,921,000 | 431,408,000 |
Cash and cash equivalents, end of year | 53,534,000 | 612,590,000 | 383,921,000 |
SUPPLEMENTAL INFORMATION: | ' | ' | ' |
Cash paid for interest, net of amounts capitalized | 722,861,000 | 464,937,000 | 477,434,000 |
Net cash (received) paid for income and other taxes | 1,152,000 | 673,000 | 645,000 |
Real estate acquisitions/dispositions/other: | ' | ' | ' |
Mortgage loans assumed | 0 | 137,644,000 | 158,240,000 |
Valuation of OP Units issued | 0 | 66,606,000 | 0 |
Amortization of deferred financing costs: | ' | ' | ' |
Amortization Of Deferred Financing Costs Investment In Real Estate Net | -152,000 | 0 | 0 |
Amortization Of Deferred Financing Costs Deferred Financing Costs Net | 22,577,000 | 21,435,000 | 17,846,000 |
Amortization of discounts and premiums on debt: | ' | ' | ' |
Mortgage notes payable | -158,625,000 | -10,333,000 | -8,260,000 |
Notes, net | 2,186,000 | 2,152,000 | 6,782,000 |
Amortization of deferred settlements on derivative instruments: | ' | ' | ' |
Other liabilities | -534,000 | -534,000 | -535,000 |
Accumulated other comprehensive income | 20,141,000 | 14,678,000 | 4,343,000 |
Loss From Investments In Unconsolidated Entities [Abstract] | ' | ' | ' |
Income Loss From Equity Method Investments Merger | 53,073,000 | 14,000 | 0 |
Other Liabilities Loss From Investments in Unconsolidated Entities Merger | 5,090,000 | 0 | 0 |
Unrealized loss (gain) on derivative instruments: | ' | ' | ' |
Other assets | -17,139,000 | 7,448,000 | 6,826,000 |
Mortgage notes payable | 0 | -2,589,000 | -612,000 |
Notes, net | -1,523,000 | -4,860,000 | -2,937,000 |
Other liabilities | -39,000 | 11,772,000 | 140,507,000 |
Accumulated other comprehensive (loss) income | 18,771,000 | -11,772,000 | -143,598,000 |
Acquisition of Archstone, net of cash acquired [Abstract] | ' | ' | ' |
Acquisition of Archstone Investment in Real Estate Net | -8,687,355,000 | 0 | 0 |
Acquisition of Archstone Investments in Unconsolidated Entities | -225,568,000 | 0 | 0 |
Acquisition of Archstone Deposits Restricted | -528,000 | 0 | 0 |
Acquisition of Archstone Escrow Deposits Mortgage | -37,582,000 | 0 | 0 |
Acquisition of Archstone Deferred Financing Costs | -25,780,000 | 0 | 0 |
Acquisition of Archstone Other Assets | -215,622,000 | 0 | 0 |
Acquisition of Archstone Mortgage Notes Payable | 3,076,876,000 | 0 | 0 |
Acquisition of Archstone Accounts Payable and Accrued Liabilities | 16,984,000 | 0 | 0 |
Acqusition of Archstone Interest Payable | 11,305,000 | 0 | 0 |
Acquisition of Archstone Other Liabilities | 117,299,000 | 0 | 0 |
Acquisition of Archstone Security Deposits | 10,965,000 | 0 | 0 |
Acquisition of Archstone Common Shares Issued | 1,929,868,000 | 0 | 0 |
Acquisition of Archstone Noncontrolling Interests Partially Owned Properties | 28,263,000 | 0 | 0 |
Interest capitalized for real estate and unconsolidated entities under development: | ' | ' | ' |
Investment in real estate, net | -45,533,000 | -21,661,000 | -8,785,000 |
Investments in unconsolidated entities | -1,788,000 | -848,000 | -323,000 |
Investments in unconsolidated entities [Abstract] | ' | ' | ' |
Investments in unconsolidated entities | -13,656,000 | -5,291,000 | -2,021,000 |
Investments in unconsolidated entities other liabilities | -52,815,000 | 0 | 0 |
Deconsolidation of previously consolidated properties: | ' | ' | ' |
Investment in real estate, net | 0 | 0 | 35,495,000 |
Investments in unconsolidated entities | 0 | 0 | -7,135,000 |
(Payments on) proceeds from settlement of derivative instruments: | ' | ' | ' |
Proceeds From Payments On Settlement Of Derivative Instruments Other Assets | -50,000 | 0 | 0 |
Other liabilities | -44,013,000 | 0 | -147,306,000 |
Other: | ' | ' | ' |
Receivable on sale of Common Shares | 0 | 28,457,000 | 0 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -613,000 | 0 | 0 |
Partnership Interest [Member] | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income | 1,905,353,000 | 881,204,000 | 935,197,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 1,013,353,000 | 684,992,000 | 663,616,000 |
Amortization of deferred financing costs | 22,425,000 | 21,435,000 | 17,846,000 |
Amortization of above/below market leases | 898,000 | 0 | 0 |
Amortization of discounts and premiums on debt | -156,439,000 | -8,181,000 | -1,478,000 |
Amortization of deferred settlements on derivative instruments | 19,607,000 | 14,144,000 | 3,808,000 |
Write-off of pursuit costs | 5,184,000 | 9,056,000 | 5,075,000 |
Loss from Investments in Unconsolidated Entities Adjustment | -58,163,000 | -14,000 | 0 |
Distributions from unconsolidated entities - return on capital | 2,481,000 | 575,000 | 319,000 |
Net (Gain) on Sales of Investment Securities/Technology Investments | -4,203,000 | 0 | -4,537,000 |
Net (gain) on sales of unconsolidated entities | -7,000 | 0 | 0 |
Net (gain) on sales of discontinued operations | -2,036,505,000 | -548,278,000 | -826,489,000 |
Unrealized loss (gain) on derivative instruments | 70,000 | -1,000 | 186,000 |
Compensation paid with Company Common Shares | 35,474,000 | 24,832,000 | 21,177,000 |
Changes in assets and liabilities: | ' | ' | ' |
Decrease (increase) in deposits - restricted | 3,684,000 | -4,091,000 | 4,523,000 |
Decrease in mortgage deposits | -1,813,000 | -176,000 | -2,133,000 |
Decrease (increase) in other assets | 3,742,000 | -20,411,000 | -2,743,000 |
Increase (decrease) in accounts payable and accrued expenses | 6,229,000 | -2,102,000 | 332,000 |
(Decrease) in accrued interest payable | -9,219,000 | -11,898,000 | -10,510,000 |
Increase (decrease) in other liabilities | 15,401,000 | 2,987,000 | -8,245,000 |
(Decrease) increase in security deposits | -6,361,000 | 1,702,000 | 4,474,000 |
Net cash provided by operating activities | 868,916,000 | 1,046,155,000 | 800,467,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Acquisition of Archstone, net of cash acquired | -4,000,875,000 | 0 | 0 |
Investment in real estate - acquisitions | -108,308,000 | -843,976,000 | -1,441,599,000 |
Investment in real estate - development/other | -377,442,000 | -180,409,000 | -120,741,000 |
Improvements to real estate | -135,816,000 | -152,828,000 | -144,452,000 |
Additions to non-real estate property | -4,134,000 | -8,821,000 | -7,110,000 |
Interest capitalized for real estate and unconsolidated entities under development | -47,321,000 | -22,509,000 | -9,108,000 |
Proceeds from disposition of real estate, net | 4,551,454,000 | 1,049,219,000 | 1,500,583,000 |
Investments in unconsolidated entities | 66,471,000 | 5,291,000 | 2,021,000 |
Distributions from unconsolidated entities b return of capital | 25,471,000 | 0 | 0 |
Proceeds from Sale of Available-for-sale Securities | -4,878,000 | 0 | -4,537,000 |
Decrease (increase) in deposits on real estate acquisitions and investments, net | 143,694,000 | -97,984,000 | 7,631,000 |
Decrease (increase) in mortgage deposits | 7,893,000 | 1,444,000 | -479,000 |
Deconsolidation of previously consolidated properties | 0 | 0 | 28,360,000 |
Acquisition of Noncontrolling Interests - Partially Owned Properties | 0 | -13,000 | -12,809,000 |
Net cash (used for) provided by investing activities | -6,977,000 | -261,168,000 | -197,208,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Loan and bond acquisition costs | -16,526,000 | -21,209,000 | -20,421,000 |
Mortgage Deposits Financing Activities | -5,631,000 | -57,000 | 247,000 |
Mortgage notes payable: | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | 902,886,000 | 26,495,000 | 190,905,000 |
Restricted cash | 0 | 2,370,000 | 16,596,000 |
Lump sum payoffs | -2,532,682,000 | -350,247,000 | -974,956,000 |
Scheduled principal repayments | -12,658,000 | -14,088,000 | -16,726,000 |
Notes, net: | ' | ' | ' |
Proceeds | 1,245,550,000 | 0 | 996,190,000 |
Lump sum payoffs | 400,000,000 | 975,991,000 | 575,641,000 |
Lines of credit: | ' | ' | ' |
Proceeds | 9,832,000,000 | 5,876,000,000 | 1,455,000,000 |
Repayments | -9,717,000,000 | -5,876,000,000 | -1,455,000,000 |
(Payments on) proceeds from settlement of derivative instruments | -44,063,000 | 0 | -147,306,000 |
Proceeds from Employee Share Purchase Plan (ESPP) | 3,401,000 | 5,399,000 | 5,262,000 |
Proceeds from exercise of options | 17,252,000 | 49,039,000 | 95,322,000 |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 150,000,000 | 0 |
Premium on Redemption of Preferred Shares Cash | 0 | -23,000 | 0 |
Payment of offering costs | -1,047,000 | -39,359,000 | -3,596,000 |
Other financing activities, net | -48,000 | -48,000 | -48,000 |
Contributions - Noncontrolling Interests - Partially Owned Properties | 27,660,000 | 8,221,000 | 75,911,000 |
Contributions - Noncontrolling Interests - Operating Partnership | 5,000 | 5,000 | 0 |
Distributions: | ' | ' | ' |
Net cash (used for) provided by financing activities | -1,420,995,000 | -556,318,000 | -650,746,000 |
Net (decrease) increase in cash and cash equivalents | -559,056,000 | 228,669,000 | -47,487,000 |
Cash and cash equivalents, beginning of year | 612,590,000 | 383,921,000 | 431,408,000 |
Cash and cash equivalents, end of year | 53,534,000 | 612,590,000 | 383,921,000 |
SUPPLEMENTAL INFORMATION: | ' | ' | ' |
Cash paid for interest, net of amounts capitalized | 722,861,000 | 464,937,000 | 477,434,000 |
Net cash (received) paid for income and other taxes | 1,152,000 | 673,000 | 645,000 |
Real estate acquisitions/dispositions/other: | ' | ' | ' |
Mortgage loans assumed | 0 | 137,644,000 | 158,240,000 |
Valuation of OP Units issued | 0 | 66,606,000 | 0 |
Amortization of deferred financing costs: | ' | ' | ' |
Amortization Of Deferred Financing Costs Investment In Real Estate Net | -152,000 | 0 | 0 |
Amortization Of Deferred Financing Costs Deferred Financing Costs Net | 22,577,000 | 21,435,000 | 17,846,000 |
Amortization of discounts and premiums on debt: | ' | ' | ' |
Mortgage notes payable | -158,625,000 | -10,333,000 | -8,260,000 |
Notes, net | 2,186,000 | 2,152,000 | 6,782,000 |
Amortization of deferred settlements on derivative instruments: | ' | ' | ' |
Other liabilities | -534,000 | -534,000 | -535,000 |
Accumulated other comprehensive income | 20,141,000 | 14,678,000 | 4,343,000 |
Loss From Investments In Unconsolidated Entities [Abstract] | ' | ' | ' |
Income Loss From Equity Method Investments Merger | 53,073,000 | 14,000 | 0 |
Other Liabilities Loss From Investments in Unconsolidated Entities Merger | 5,090,000 | 0 | 0 |
Unrealized loss (gain) on derivative instruments: | ' | ' | ' |
Other assets | -17,139,000 | 7,448,000 | 6,826,000 |
Mortgage notes payable | 0 | -2,589,000 | -612,000 |
Notes, net | -1,523,000 | -4,860,000 | -2,937,000 |
Other liabilities | -39,000 | 11,772,000 | 140,507,000 |
Accumulated other comprehensive (loss) income | 18,771,000 | -11,772,000 | -143,598,000 |
Acquisition of Archstone, net of cash acquired [Abstract] | ' | ' | ' |
Acquisition of Archstone Investment in Real Estate Net | -8,687,355,000 | 0 | 0 |
Acquisition of Archstone Investments in Unconsolidated Entities | -225,568,000 | 0 | 0 |
Acquisition of Archstone Deposits Restricted | -528,000 | 0 | 0 |
Acquisition of Archstone Escrow Deposits Mortgage | -37,582,000 | 0 | 0 |
Acquisition of Archstone Deferred Financing Costs | -25,780,000 | 0 | 0 |
Acquisition of Archstone Other Assets | -215,622,000 | 0 | 0 |
Acquisition of Archstone Mortgage Notes Payable | 3,076,876,000 | 0 | 0 |
Acquisition of Archstone Accounts Payable and Accrued Liabilities | 16,984,000 | 0 | 0 |
Acqusition of Archstone Interest Payable | 11,305,000 | 0 | 0 |
Acquisition of Archstone Other Liabilities | 117,299,000 | 0 | 0 |
Acquisition of Archstone Security Deposits | 10,965,000 | 0 | 0 |
Acquisition of Archstone Common Shares Issued | 1,929,868,000 | 0 | 0 |
Acquisition of Archstone Noncontrolling Interests Partially Owned Properties | 28,263,000 | 0 | 0 |
Interest capitalized for real estate and unconsolidated entities under development: | ' | ' | ' |
Investment in real estate, net | -45,533,000 | -21,661,000 | -8,785,000 |
Investments in unconsolidated entities | -1,788,000 | -848,000 | -323,000 |
Investments in unconsolidated entities [Abstract] | ' | ' | ' |
Investments in unconsolidated entities | -13,656,000 | -5,291,000 | -2,021,000 |
Investments in unconsolidated entities other liabilities | -52,815,000 | 0 | 0 |
Deconsolidation of previously consolidated properties: | ' | ' | ' |
Investment in real estate, net | 0 | 0 | 35,495,000 |
Investments in unconsolidated entities | 0 | 0 | -7,135,000 |
(Payments on) proceeds from settlement of derivative instruments: | ' | ' | ' |
Other liabilities | -44,013,000 | 0 | -147,306,000 |
Other: | ' | ' | ' |
Receivable on sale of Common Shares | 0 | 28,457,000 | 0 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | ($613,000) | $0 | $0 |
CONSOLIDATED_STATEMENTS_OF_CAS1
CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income | $1,905,353,000 | $881,204,000 | $935,197,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 1,013,353,000 | 684,992,000 | 663,616,000 |
Amortization of deferred financing costs | 22,425,000 | 21,435,000 | 17,846,000 |
Amortization of above/below market leases | 898,000 | 0 | 0 |
Amortization of discounts and premiums on debt | -156,439,000 | -8,181,000 | -1,478,000 |
Amortization of deferred settlements on derivative instruments | 19,607,000 | 14,144,000 | 3,808,000 |
Write-off of pursuit costs | 5,184,000 | 9,056,000 | 5,075,000 |
Loss from Investments in Unconsolidated Entities Adjustment | -58,163,000 | -14,000 | 0 |
Distributions from unconsolidated entities - return on capital | 2,481,000 | 575,000 | 319,000 |
Net (Gain) on Sales of Investment Securities/Technology Investments | -4,203,000 | 0 | -4,537,000 |
Net (gain) on sales of unconsolidated entities | -7,000 | 0 | 0 |
Net gain (loss) on sales of land parcels | -12,227,000 | 0 | -4,217,000 |
Net (gain) on sales of discontinued operations | -2,036,505,000 | -548,278,000 | -826,489,000 |
Unrealized loss (gain) on derivative instruments | 70,000 | -1,000 | 186,000 |
Compensation paid with Company Common Shares | 35,474,000 | 24,832,000 | 21,177,000 |
Changes in assets and liabilities: | ' | ' | ' |
Decrease (increase) in deposits - restricted | 3,684,000 | -4,091,000 | 4,523,000 |
Decrease in mortgage deposits | -1,813,000 | -176,000 | -2,133,000 |
Decrease (increase) in other assets | 3,742,000 | -20,411,000 | -2,743,000 |
Increase (decrease) in accounts payable and accrued expenses | 6,229,000 | -2,102,000 | 332,000 |
(Decrease) in accrued interest payable | -9,219,000 | -11,898,000 | -10,510,000 |
Increase (decrease) in other liabilities | 15,401,000 | 2,987,000 | -8,245,000 |
(Decrease) increase in security deposits | -6,361,000 | 1,702,000 | 4,474,000 |
Net cash provided by operating activities | 868,916,000 | 1,046,155,000 | 800,467,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Acquisition of Archstone, net of cash acquired | -4,000,875,000 | 0 | 0 |
Investment in real estate - acquisitions | -108,308,000 | -843,976,000 | -1,441,599,000 |
Investment in real estate - development/other | -377,442,000 | -180,409,000 | -120,741,000 |
Improvements to real estate | -135,816,000 | -152,828,000 | -144,452,000 |
Additions to non-real estate property | -4,134,000 | -8,821,000 | -7,110,000 |
Interest capitalized for real estate and unconsolidated entities under development | -47,321,000 | -22,509,000 | -9,108,000 |
Proceeds from disposition of real estate, net | 4,551,454,000 | 1,049,219,000 | 1,500,583,000 |
Investments in unconsolidated entities | 66,471,000 | 5,291,000 | 2,021,000 |
Distributions from unconsolidated entities - return of capital | 25,471,000 | 0 | 0 |
Proceeds from Sale of Available-for-sale Securities | -4,878,000 | 0 | -4,537,000 |
Decrease (increase) in deposits on real estate acquisitions and investments, net | 143,694,000 | -97,984,000 | 7,631,000 |
Decrease (increase) in mortgage deposits | 7,893,000 | 1,444,000 | -479,000 |
Deconsolidation of previously consolidated properties | 0 | 0 | 28,360,000 |
Acquisition of Noncontrolling Interests - Partially Owned Properties | 0 | -13,000 | -12,809,000 |
Net cash (used for) provided by investing activities | -6,977,000 | -261,168,000 | -197,208,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Loan and bond acquisition costs | -16,526,000 | -21,209,000 | -20,421,000 |
Mortgage Deposits Financing Activities | -5,631,000 | -57,000 | 247,000 |
Mortgage notes payable: | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | 902,886,000 | 26,495,000 | 190,905,000 |
Restricted cash | 0 | 2,370,000 | 16,596,000 |
Lump sum payoffs | -2,532,682,000 | -350,247,000 | -974,956,000 |
Scheduled principal repayments | -12,658,000 | -14,088,000 | -16,726,000 |
Notes, net: | ' | ' | ' |
Proceeds | 1,245,550,000 | 0 | 996,190,000 |
Repayments of Notes Payable | 400,000,000 | 975,991,000 | 575,641,000 |
Lines of credit: | ' | ' | ' |
Proceeds | 9,832,000,000 | 5,876,000,000 | 1,455,000,000 |
Repayments | -9,717,000,000 | -5,876,000,000 | -1,455,000,000 |
(Payments on) proceeds from settlement of derivative instruments | -44,063,000 | 0 | -147,306,000 |
Proceeds from EQR's Employee Share Purchase Plan (ESPP) | 3,401,000 | 5,399,000 | 5,262,000 |
Proceeds from exercise of EQR options | 17,252,000 | 49,039,000 | 95,322,000 |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 150,000,000 | 0 |
Premium on Redemption of Preferred Shares Cash | 0 | -23,000 | 0 |
Payment of offering costs | -1,047,000 | -39,359,000 | -3,596,000 |
Other financing activities, net | -48,000 | -48,000 | -48,000 |
Contributions - Noncontrolling Interests - Partially Owned Properties | 27,660,000 | 8,221,000 | 75,911,000 |
Contributions - Noncontrolling Interests - Operating Partnership | 5,000 | 5,000 | 0 |
Distributions: | ' | ' | ' |
Net cash (used for) provided by financing activities | -1,420,995,000 | -556,318,000 | -650,746,000 |
Net (decrease) increase in cash and cash equivalents | -559,056,000 | 228,669,000 | -47,487,000 |
Cash and cash equivalents, beginning of year | 612,590,000 | 383,921,000 | 431,408,000 |
Cash and cash equivalents, end of year | 53,534,000 | 612,590,000 | 383,921,000 |
SUPPLEMENTAL INFORMATION: | ' | ' | ' |
Cash paid for interest, net of amounts capitalized | 722,861,000 | 464,937,000 | 477,434,000 |
Net cash paid (received) for income and other taxes | 1,152,000 | 673,000 | 645,000 |
Real estate acquisitions/dispositions/other: | ' | ' | ' |
Mortgage loans assumed | 0 | 137,644,000 | 158,240,000 |
Valuation of OP Units issued | 0 | 66,606,000 | 0 |
Amortization of deferred financing costs: | ' | ' | ' |
Amortization Of Deferred Financing Costs Investment In Real Estate Net | -152,000 | 0 | 0 |
Amortization Of Deferred Financing Costs Deferred Financing Costs Net | 22,577,000 | 21,435,000 | 17,846,000 |
Amortization of discounts and premiums on debt: | ' | ' | ' |
Mortgage notes payable | -158,625,000 | -10,333,000 | -8,260,000 |
Notes, net | 2,186,000 | 2,152,000 | 6,782,000 |
Amortization of deferred settlements on derivative instruments: | ' | ' | ' |
Other liabilities | -534,000 | -534,000 | -535,000 |
Accumulated other comprehensive income | 20,141,000 | 14,678,000 | 4,343,000 |
Loss From Investments In Unconsolidated Entities [Abstract] | ' | ' | ' |
Income Loss From Equity Method Investments Merger | 53,073,000 | 14,000 | 0 |
Other Liabilities Loss From Investments in Unconsolidated Entities Merger | 5,090,000 | 0 | 0 |
Unrealized loss (gain) on derivative instruments: | ' | ' | ' |
Other assets | -17,139,000 | 7,448,000 | 6,826,000 |
Mortgage notes payable | 0 | -2,589,000 | -612,000 |
Notes, net | -1,523,000 | -4,860,000 | -2,937,000 |
Other liabilities | -39,000 | 11,772,000 | 140,507,000 |
Accumulated other comprehensive (loss) income | 18,771,000 | -11,772,000 | -143,598,000 |
Acquisition of Archstone, net of cash acquired [Abstract] | ' | ' | ' |
Acquisition of Archstone Investment in Real Estate Net | -8,687,355,000 | 0 | 0 |
Acquisition of Archstone Investments in Unconsolidated Entities | -225,568,000 | 0 | 0 |
Acquisition of Archstone Deposits Restricted | -528,000 | 0 | 0 |
Acquisition of Archstone Escrow Deposits Mortgage | -37,582,000 | 0 | 0 |
Acquisition of Archstone Deferred Financing Costs | -25,780,000 | 0 | 0 |
Acquisition of Archstone Other Assets | -215,622,000 | 0 | 0 |
Acquisition of Archstone Mortgage Notes Payable | 3,076,876,000 | 0 | 0 |
Acquisition of Archstone Accounts Payable and Accrued Liabilities | 16,984,000 | 0 | 0 |
Acqusition of Archstone Interest Payable | 11,305,000 | 0 | 0 |
Acquisition of Archstone Other Liabilities | 117,299,000 | 0 | 0 |
Acquisition of Archstone Security Deposits | 10,965,000 | 0 | 0 |
Acquisition of Archstone Common Shares Issued | 1,929,868,000 | 0 | 0 |
Acquisition of Archstone Noncontrolling Interests Partially Owned Properties | 28,263,000 | 0 | 0 |
Interest capitalized for real estate and unconsolidated entities under development: | ' | ' | ' |
Investment in real estate, net | -45,533,000 | -21,661,000 | -8,785,000 |
Investments in unconsolidated entities | -1,788,000 | -848,000 | -323,000 |
Investments in unconsolidated entities [Abstract] | ' | ' | ' |
Investments in unconsolidated entities | -13,656,000 | -5,291,000 | -2,021,000 |
Investments in unconsolidated entities other liabilities | -52,815,000 | 0 | 0 |
Deconsolidation of previously consolidated properties: | ' | ' | ' |
Investment in real estate, net | 0 | 0 | 35,495,000 |
Investments in unconsolidated entities | 0 | 0 | -7,135,000 |
(Payments on) proceeds from settlement of derivative instruments: | ' | ' | ' |
Proceeds From Payments On Settlement Of Derivative Instruments Other Assets | -50,000 | 0 | 0 |
Other liabilities | -44,013,000 | 0 | -147,306,000 |
Other: | ' | ' | ' |
Receivable For Common Shares OP Units Issued | 0 | 28,457,000 | 0 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -613,000 | 0 | 0 |
OPERATING PARTNERSHIP | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income | 1,905,353,000 | 881,204,000 | 935,197,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 1,013,353,000 | 684,992,000 | 663,616,000 |
Amortization of deferred financing costs | 22,425,000 | 21,435,000 | 17,846,000 |
Amortization of above/below market leases | 898,000 | 0 | 0 |
Amortization of discounts and premiums on debt | -156,439,000 | -8,181,000 | -1,478,000 |
Amortization of deferred settlements on derivative instruments | 19,607,000 | 14,144,000 | 3,808,000 |
Write-off of pursuit costs | 5,184,000 | 9,056,000 | 5,075,000 |
Loss from Investments in Unconsolidated Entities Adjustment | 58,163,000 | 14,000 | 0 |
Distributions from unconsolidated entities - return on capital | 2,481,000 | 575,000 | 319,000 |
Net (Gain) on Sales of Investment Securities/Technology Investments | -4,203,000 | 0 | -4,537,000 |
Net (gain) on sales of unconsolidated entities | -7,000 | 0 | 0 |
Net gain (loss) on sales of land parcels | -12,227,000 | 0 | -4,217,000 |
Net (gain) on sales of discontinued operations | -2,036,505,000 | -548,278,000 | -826,489,000 |
Unrealized loss (gain) on derivative instruments | 70,000 | -1,000 | 186,000 |
Compensation paid with Company Common Shares | 35,474,000 | 24,832,000 | 21,177,000 |
Changes in assets and liabilities: | ' | ' | ' |
Decrease (increase) in deposits - restricted | 3,684,000 | -4,091,000 | 4,523,000 |
Decrease in mortgage deposits | 1,813,000 | 176,000 | 2,133,000 |
Decrease (increase) in other assets | 3,742,000 | -20,411,000 | -2,743,000 |
Increase (decrease) in accounts payable and accrued expenses | 6,229,000 | -2,102,000 | 332,000 |
(Decrease) in accrued interest payable | -9,219,000 | -11,898,000 | -10,510,000 |
Increase (decrease) in other liabilities | 15,401,000 | 2,987,000 | -8,245,000 |
(Decrease) increase in security deposits | -6,361,000 | 1,702,000 | 4,474,000 |
Net cash provided by operating activities | 868,916,000 | 1,046,155,000 | 800,467,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Acquisition of Archstone, net of cash acquired | -4,000,875,000 | 0 | 0 |
Investment in real estate - acquisitions | -108,308,000 | -843,976,000 | -1,441,599,000 |
Investment in real estate - development/other | -377,442,000 | -180,409,000 | -120,741,000 |
Improvements to real estate | -135,816,000 | -152,828,000 | -144,452,000 |
Additions to non-real estate property | -4,134,000 | -8,821,000 | -7,110,000 |
Interest capitalized for real estate and unconsolidated entities under development | -47,321,000 | -22,509,000 | -9,108,000 |
Proceeds from disposition of real estate, net | 4,551,454,000 | 1,049,219,000 | 1,500,583,000 |
Investments in unconsolidated entities | -66,471,000 | -5,291,000 | -2,021,000 |
Distributions from unconsolidated entities - return of capital | 25,471,000 | 0 | 0 |
Proceeds from Sale of Available-for-sale Securities | 4,878,000 | 0 | 4,537,000 |
Decrease (increase) in deposits on real estate acquisitions and investments, net | 143,694,000 | -97,984,000 | 7,631,000 |
Decrease (increase) in mortgage deposits | 7,893,000 | 1,444,000 | -479,000 |
Deconsolidation of previously consolidated properties | 0 | 0 | 28,360,000 |
Acquisition of Noncontrolling Interests - Partially Owned Properties | 0 | -13,000 | -12,809,000 |
Net cash (used for) provided by investing activities | -6,977,000 | -261,168,000 | -197,208,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Loan and bond acquisition costs | -16,526,000 | -21,209,000 | -20,421,000 |
Mortgage Deposits Financing Activities | -5,631,000 | -57,000 | 247,000 |
Mortgage notes payable: | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | 902,886,000 | 26,495,000 | 190,905,000 |
Restricted cash | 0 | 2,370,000 | 16,596,000 |
Lump sum payoffs | -2,532,682,000 | -350,247,000 | -974,956,000 |
Scheduled principal repayments | -12,658,000 | -14,088,000 | -16,726,000 |
Notes, net: | ' | ' | ' |
Proceeds | 1,245,550,000 | 0 | 996,190,000 |
Repayments of Notes Payable | -400,000,000 | -975,991,000 | -575,641,000 |
Lines of credit: | ' | ' | ' |
Proceeds | 9,832,000,000 | 5,876,000,000 | 1,455,000,000 |
Repayments | -9,717,000,000 | -5,876,000,000 | -1,455,000,000 |
(Payments on) proceeds from settlement of derivative instruments | -44,063,000 | 0 | -147,306,000 |
Proceeds from sale of OP Units | 0 | 1,417,040,000 | 173,484,000 |
Proceeds from EQR's Employee Share Purchase Plan (ESPP) | 3,401,000 | 5,399,000 | 5,262,000 |
Proceeds from exercise of EQR options | 17,252,000 | 49,039,000 | 95,322,000 |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | -150,000,000 | 0 |
Premium on Redemption of Preferred Shares Cash | 0 | -23,000 | 0 |
Payment of offering costs | -1,047,000 | -39,359,000 | -3,596,000 |
Other financing activities, net | -48,000 | -48,000 | -48,000 |
Contributions - Noncontrolling Interests - Partially Owned Properties | 27,660,000 | 8,221,000 | 75,911,000 |
Contributions - Noncontrolling Interests - Operating Partnership | 5,000 | 5,000 | 0 |
Distributions: | ' | ' | ' |
OP Units - General Partner | -681,610,000 | -473,451,000 | -432,023,000 |
Preference Units | -4,145,000 | -13,416,000 | -12,829,000 |
OP Units - Limited Partners | -27,897,000 | -21,915,000 | -20,002,000 |
Noncontrolling Interests - Partially Owned Properties | -6,442,000 | -5,083,000 | -1,115,000 |
Net cash (used for) provided by financing activities | -1,420,995,000 | -556,318,000 | -650,746,000 |
Net (decrease) increase in cash and cash equivalents | -559,056,000 | 228,669,000 | -47,487,000 |
Cash and cash equivalents, beginning of year | 612,590,000 | 383,921,000 | 431,408,000 |
Cash and cash equivalents, end of year | 53,534,000 | 612,590,000 | 383,921,000 |
SUPPLEMENTAL INFORMATION: | ' | ' | ' |
Cash paid for interest, net of amounts capitalized | 722,861,000 | 464,937,000 | 477,434,000 |
Net cash paid (received) for income and other taxes | 1,152,000 | 673,000 | 645,000 |
Real estate acquisitions/dispositions/other: | ' | ' | ' |
Mortgage loans assumed | 0 | 137,644,000 | 158,240,000 |
Valuation of OP Units issued | 0 | 66,606,000 | 0 |
Amortization of deferred financing costs: | ' | ' | ' |
Amortization Of Deferred Financing Costs Investment In Real Estate Net | -152,000 | 0 | 0 |
Amortization Of Deferred Financing Costs Deferred Financing Costs Net | 22,577,000 | 21,435,000 | 17,846,000 |
Amortization of discounts and premiums on debt: | ' | ' | ' |
Mortgage notes payable | -158,625,000 | -10,333,000 | -8,260,000 |
Notes, net | 2,186,000 | 2,152,000 | 6,782,000 |
Amortization of deferred settlements on derivative instruments: | ' | ' | ' |
Other liabilities | -534,000 | -534,000 | -535,000 |
Accumulated other comprehensive income | 20,141,000 | 14,678,000 | 4,343,000 |
Loss From Investments In Unconsolidated Entities [Abstract] | ' | ' | ' |
Income Loss From Equity Method Investments Merger | 53,073,000 | 14,000 | 0 |
Other Liabilities Loss From Investments in Unconsolidated Entities Merger | 5,090,000 | 0 | 0 |
Unrealized loss (gain) on derivative instruments: | ' | ' | ' |
Other assets | -17,139,000 | 7,448,000 | 6,826,000 |
Mortgage notes payable | 0 | -2,589,000 | -612,000 |
Notes, net | -1,523,000 | -4,860,000 | -2,937,000 |
Other liabilities | -39,000 | 11,772,000 | 140,507,000 |
Accumulated other comprehensive (loss) income | 18,771,000 | -11,772,000 | -143,598,000 |
Acquisition of Archstone, net of cash acquired [Abstract] | ' | ' | ' |
Acquisition of Archstone Investment in Real Estate Net | -8,687,355,000 | 0 | 0 |
Acquisition of Archstone Investments in Unconsolidated Entities | -225,568,000 | 0 | 0 |
Acquisition of Archstone Deposits Restricted | -528,000 | 0 | 0 |
Acquisition of Archstone Escrow Deposits Mortgage | -37,582,000 | 0 | 0 |
Acquisition of Archstone Deferred Financing Costs | -25,780,000 | 0 | 0 |
Acquisition of Archstone Other Assets | -215,622,000 | 0 | 0 |
Acquisition of Archstone Mortgage Notes Payable | 3,076,876,000 | 0 | 0 |
Acquisition of Archstone Accounts Payable and Accrued Liabilities | 16,984,000 | 0 | 0 |
Acqusition of Archstone Interest Payable | 11,305,000 | 0 | 0 |
Acquisition of Archstone Other Liabilities | 117,299,000 | 0 | 0 |
Acquisition of Archstone Security Deposits | 10,965,000 | 0 | 0 |
Acquisition of Archstone Common Shares Issued | 1,929,868,000 | 0 | 0 |
Acquisition of Archstone Noncontrolling Interests Partially Owned Properties | 28,263,000 | 0 | 0 |
Interest capitalized for real estate and unconsolidated entities under development: | ' | ' | ' |
Investment in real estate, net | -45,533,000 | -21,661,000 | -8,785,000 |
Investments in unconsolidated entities | -1,788,000 | -848,000 | -323,000 |
Investments in unconsolidated entities [Abstract] | ' | ' | ' |
Investments in unconsolidated entities | -13,656,000 | -5,291,000 | -2,021,000 |
Investments in unconsolidated entities other liabilities | -52,815,000 | 0 | 0 |
Deconsolidation of previously consolidated properties: | ' | ' | ' |
Investment in real estate, net | 0 | 0 | 35,495,000 |
Investments in unconsolidated entities | 0 | 0 | -7,135,000 |
(Payments on) proceeds from settlement of derivative instruments: | ' | ' | ' |
Other liabilities | -44,013,000 | 0 | -147,306,000 |
Other: | ' | ' | ' |
Receivable For Common Shares OP Units Issued | 0 | 28,457,000 | 0 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | ($613,000) | $0 | $0 |
CONSOLIDATED_STATEMENT_OF_CHAN
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (USD $) | Total | PREFERRED SHARES | COMMON SHARES, $0.01 PAR VALUE | PAID IN CAPITAL | Retained Earnings [Member] | ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME | OPERATING PARTNERSHIP | Partially Owned Properties [Member] | Series N Preferred Stock [Member] |
In Thousands, unless otherwise specified | |||||||||
Beginning Balance, Noncontrolling Interest at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | $110,399 | $7,991 | ' |
Beginning Balance, Parent at Dec. 31, 2010 | ' | 200,000 | 2,902 | 4,741,521 | 203,581 | -57,818 | ' | ' | ' |
Preferred Shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock Preference Units Dividend Rate Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 6.48% |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | ' | ' | ' | ' | ' | ' | ' |
Common Share Issuance: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of OP Units into Common Shares | ' | ' | 3 | 8,577 | ' | ' | -8,580 | ' | ' |
Issuance of Common Shares | 201,900 | ' | 39 | 201,903 | ' | ' | ' | ' | ' |
Exercise of share options | ' | ' | 29 | 95,293 | ' | ' | ' | ' | ' |
Employee Share Purchase Plan (ESPP) | ' | ' | 1 | 5,261 | ' | ' | ' | ' | ' |
Conversion of restricted shares to LTIP Units | ' | ' | -1 | -3,933 | ' | ' | 3,934 | ' | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | ' | ' | 2 | 9,100 | ' | ' | ' | ' | ' |
Share-based employee compensation expense: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share options | ' | ' | ' | 9,545 | ' | ' | ' | ' | ' |
ESPP discount | ' | ' | ' | 1,194 | ' | ' | ' | ' | ' |
Offering costs | ' | ' | ' | -3,596 | ' | ' | ' | ' | ' |
Premium on Redemption of Preferred Shares Preference Units Original Issuance | ' | ' | ' | 0 | 0 | ' | ' | ' | ' |
Supplemental Executive Retirement Plan (SERP) | ' | ' | ' | 10,765 | ' | ' | ' | ' | ' |
Acquisition of Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | -4,784 | ' | ' | ' | -8,025 | ' |
Change in market value | 22,714 | ' | ' | -22,714 | ' | ' | ' | ' | ' |
Adjustment for Noncontrolling Interests ownership in Operating Partnership | ' | ' | ' | -946 | ' | ' | 946 | ' | ' |
Net income attributable to controlling interests | 893,585 | ' | ' | ' | 893,585 | ' | ' | ' | ' |
Common Share distributions | ' | ' | ' | ' | -467,729 | ' | ' | ' | ' |
Preferred Share distributions | ' | ' | ' | ' | -13,865 | ' | ' | ' | ' |
Premium on Redemption of Preferred Shares Cash | 0 | ' | ' | ' | 0 | ' | ' | ' | ' |
Accumulated other comprehensive (loss) income - derivative instruments: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the year | -143,598 | ' | ' | ' | ' | -143,598 | ' | ' | ' |
Losses reclassified into earnings from other comprehensive income | -4,343 | ' | ' | ' | ' | 4,343 | ' | ' | ' |
Accumulated other comprehensive income (loss) - other instruments: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | 355 | ' | ' | ' | ' | 355 | ' | ' | ' |
Gain on Sale of Securities, Net | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Currency translation adjustments arising during the year | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of OP Units to Noncontrolling Interests | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Issuance of LTIP Units to Noncontrolling Interests | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner | ' | ' | 3 | 8,577 | ' | ' | -8,580 | ' | ' |
Equity Compensation associated with Noncontrolling Interests | ' | ' | ' | ' | ' | ' | 3,641 | ' | ' |
Net income | 935,197 | ' | ' | ' | ' | ' | 40,780 | 832 | ' |
Distributions to Noncontrolling Interests | ' | ' | ' | ' | ' | ' | -21,434 | -1,163 | ' |
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership | 10,150 | ' | ' | ' | ' | ' | -10,150 | ' | ' |
Contributions - Noncontrolling Interests - Partially Owned Properties | 75,911 | ' | ' | ' | ' | ' | ' | 75,911 | ' |
Archstone Acquisition Noncontrolling Interests Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Other | ' | ' | ' | ' | ' | ' | ' | -1,240 | ' |
Ending Balance, Noncontrolling Interest at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | 119,536 | 74,306 | ' |
Ending Balance, Parent at Dec. 31, 2011 | ' | 200,000 | 2,975 | 5,047,186 | 615,572 | -196,718 | ' | ' | ' |
Preferred Shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock Preference Units Dividend Rate Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 6.48% |
Payments for Repurchase of Preferred Stock and Preference Stock | -150,000 | -150,000 | ' | ' | ' | ' | ' | ' | ' |
Common Share Issuance: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of OP Units into Common Shares | ' | ' | 7 | 18,922 | ' | ' | -18,929 | ' | ' |
Issuance of Common Shares | 192,300 | ' | 250 | 1,388,333 | ' | ' | ' | ' | ' |
Exercise of share options | ' | ' | 16 | 49,023 | ' | ' | ' | ' | ' |
Employee Share Purchase Plan (ESPP) | ' | ' | 1 | 5,398 | ' | ' | ' | ' | ' |
Conversion of restricted shares to LTIP Units | ' | ' | 0 | 0 | ' | ' | 0 | ' | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | ' | ' | 2 | 8,934 | ' | ' | ' | ' | ' |
Share-based employee compensation expense: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share options | ' | ' | ' | 11,752 | ' | ' | ' | ' | ' |
ESPP discount | ' | ' | ' | 965 | ' | ' | ' | ' | ' |
Offering costs | ' | ' | ' | -39,359 | ' | ' | ' | ' | ' |
Premium on Redemption of Preferred Shares Preference Units Original Issuance | ' | ' | ' | 5,129 | -5,129 | ' | ' | ' | ' |
Supplemental Executive Retirement Plan (SERP) | ' | ' | ' | 282 | ' | ' | ' | ' | ' |
Acquisition of Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | 1,293 | ' | ' | ' | -1,306 | ' |
Change in market value | -38,734 | ' | ' | 38,734 | ' | ' | ' | ' | ' |
Adjustment for Noncontrolling Interests ownership in Operating Partnership | ' | ' | ' | 5,763 | ' | ' | -5,763 | ' | ' |
Net income attributable to controlling interests | 841,719 | ' | ' | ' | 841,719 | ' | ' | ' | ' |
Common Share distributions | ' | ' | ' | ' | -554,429 | ' | ' | ' | ' |
Preferred Share distributions | ' | ' | ' | ' | -10,355 | ' | ' | ' | ' |
Premium on Redemption of Preferred Shares Cash | -23 | ' | ' | ' | -23 | ' | ' | ' | ' |
Accumulated other comprehensive (loss) income - derivative instruments: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the year | -11,772 | ' | ' | ' | ' | -11,772 | ' | ' | ' |
Losses reclassified into earnings from other comprehensive income | -14,678 | ' | ' | ' | ' | 14,678 | ' | ' | ' |
Accumulated other comprehensive income (loss) - other instruments: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | 664 | ' | ' | ' | ' | 664 | ' | ' | ' |
Gain on Sale of Securities, Net | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Currency translation adjustments arising during the year | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of OP Units to Noncontrolling Interests | ' | ' | ' | ' | ' | ' | 66,606 | ' | ' |
Issuance of LTIP Units to Noncontrolling Interests | ' | ' | ' | ' | ' | ' | 5 | ' | ' |
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner | ' | ' | 7 | 18,922 | ' | ' | -18,929 | ' | ' |
Equity Compensation associated with Noncontrolling Interests | ' | ' | ' | ' | ' | ' | 5,307 | ' | ' |
Net income | 881,204 | ' | ' | ' | ' | ' | 38,641 | 844 | ' |
Distributions to Noncontrolling Interests | ' | ' | ' | ' | ' | ' | -25,095 | -5,131 | ' |
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership | 20,702 | ' | ' | ' | ' | ' | -20,702 | ' | ' |
Contributions - Noncontrolling Interests - Partially Owned Properties | 8,221 | ' | ' | ' | ' | ' | ' | 8,221 | ' |
Archstone Acquisition Noncontrolling Interests Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Other | ' | ' | ' | ' | ' | ' | ' | 754 | ' |
Ending Balance, Noncontrolling Interest at Dec. 31, 2012 | 7,527,107 | ' | ' | ' | ' | ' | 159,606 | 77,688 | ' |
Ending Balance, Parent at Dec. 31, 2012 | 7,289,813 | 50,000 | 3,251 | 6,542,355 | 887,355 | -193,148 | ' | ' | ' |
Preferred Shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock Preference Units Dividend Rate Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 6.48% |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | ' | ' | ' | ' | ' | ' | -150,000 |
Common Share Issuance: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of OP Units into Common Shares | ' | ' | 1 | 1,698 | ' | ' | -1,699 | ' | ' |
Issuance of Common Shares | ' | ' | 345 | 1,929,523 | ' | ' | ' | ' | ' |
Exercise of share options | ' | ' | 5 | 17,247 | ' | ' | ' | ' | ' |
Employee Share Purchase Plan (ESPP) | ' | ' | 1 | 3,400 | ' | ' | ' | ' | ' |
Conversion of restricted shares to LTIP Units | ' | ' | 0 | 0 | ' | ' | 0 | ' | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | ' | ' | 2 | 13,262 | ' | ' | ' | ' | ' |
Share-based employee compensation expense: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share options | ' | ' | ' | 10,514 | ' | ' | ' | ' | ' |
ESPP discount | ' | ' | ' | 632 | ' | ' | ' | ' | ' |
Offering costs | ' | ' | ' | -1,047 | ' | ' | ' | ' | ' |
Premium on Redemption of Preferred Shares Preference Units Original Issuance | ' | ' | ' | 0 | 0 | ' | ' | ' | 5,100 |
Supplemental Executive Retirement Plan (SERP) | ' | ' | ' | -422 | ' | ' | ' | ' | ' |
Acquisition of Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | 0 | ' | ' | ' | 0 | ' |
Change in market value | -79,667 | ' | ' | 79,667 | ' | ' | ' | ' | ' |
Adjustment for Noncontrolling Interests ownership in Operating Partnership | ' | ' | ' | -35,329 | ' | ' | 35,329 | ' | ' |
Net income attributable to controlling interests | 1,830,613 | ' | ' | ' | 1,830,613 | ' | ' | ' | ' |
Common Share distributions | ' | ' | ' | ' | -666,565 | ' | ' | ' | ' |
Preferred Share distributions | ' | ' | ' | ' | -4,145 | ' | ' | ' | ' |
Premium on Redemption of Preferred Shares Cash | 0 | ' | ' | ' | 0 | ' | ' | ' | ' |
Accumulated other comprehensive (loss) income - derivative instruments: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the year | 18,771 | ' | ' | ' | ' | 18,771 | ' | ' | ' |
Losses reclassified into earnings from other comprehensive income | -20,141 | ' | ' | ' | ' | 20,141 | ' | ' | ' |
Accumulated other comprehensive income (loss) - other instruments: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | 583 | ' | ' | ' | ' | 583 | ' | ' | ' |
Gain on Sale of Securities, Net | -2,122 | ' | ' | ' | ' | ' | ' | ' | ' |
Currency translation adjustments arising during the year | 613 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of OP Units to Noncontrolling Interests | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Issuance of LTIP Units to Noncontrolling Interests | ' | ' | ' | ' | ' | ' | 5 | ' | ' |
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner | ' | ' | 1 | 1,698 | ' | ' | -1,699 | ' | ' |
Equity Compensation associated with Noncontrolling Interests | ' | ' | ' | ' | ' | ' | 13,609 | ' | ' |
Net income | 1,905,353 | ' | ' | ' | ' | ' | 75,278 | -538 | ' |
Distributions to Noncontrolling Interests | ' | ' | ' | ' | ' | ' | -26,277 | -6,490 | ' |
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership | 44,439 | ' | ' | ' | ' | ' | -44,439 | ' | ' |
Contributions - Noncontrolling Interests - Partially Owned Properties | 27,660 | ' | ' | ' | ' | ' | ' | 27,660 | ' |
Archstone Acquisition Noncontrolling Interests Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 28,263 | ' |
Other | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Ending Balance, Noncontrolling Interest at Dec. 31, 2013 | 10,845,196 | ' | ' | ' | ' | ' | 211,412 | 126,583 | ' |
Ending Balance, Parent at Dec. 31, 2013 | $10,507,201 | $50,000 | $3,605 | $8,561,500 | $2,047,258 | ($155,162) | ' | ' | ' |
CONSOLIDATED_STATEMENT_OF_CHAN1
CONSOLIDATED STATEMENT OF CHANGES IN CAPITAL OF ERP OPERATING LIMITED PARTNERSHIP (USD $) | Total | Preferred Stock [Member] | General Partner [Member] | Limited Partner [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Partially Owned Properties [Member] | Series N Preferred Stock [Member] | Series N Preferred Stock [Member] |
In Thousands, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Preferred Stock [Member] |
Balance, beginning of year at Dec. 31, 2010 | ' | $200,000 | $4,948,004 | $110,399 | ($57,818) | $7,991 | ' | ' |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | ' | ' | ' | ' | ' | ' |
Preferred Stock Preference Units Dividend Rate Percentage | ' | ' | ' | ' | ' | ' | 6.48% | 6.48% |
OP Unit Issuance: | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of OP Units held by Limited Partners into OP Units held by General Partner | ' | ' | 8,580 | -8,580 | ' | ' | ' | ' |
Issuance of OP Units | ' | ' | 201,942 | ' | ' | ' | ' | ' |
Exercise of EQR share options | ' | ' | 95,322 | ' | ' | ' | ' | ' |
EQR's Employee Share Purchase Plan (ESPP) | ' | ' | 5,262 | ' | ' | ' | ' | ' |
Conversion of EQR restricted shares to LTIP Units | ' | ' | -3,934 | 3,934 | ' | ' | ' | ' |
Share-based employee compensation expense: | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | ' | ' | 9,102 | ' | ' | ' | ' | ' |
EQR share options | ' | ' | 9,545 | ' | ' | ' | ' | ' |
EQR ESPP discount | ' | ' | 1,194 | ' | ' | ' | ' | ' |
Offering costs | ' | ' | -3,596 | ' | ' | ' | ' | ' |
Premium on Redemption of Preferred Shares Preference Units Original Issuance | ' | ' | 0 | ' | ' | ' | ' | ' |
Net income available to Units - General Partner | ' | ' | 879,720 | ' | ' | ' | ' | ' |
OP Units - General Partner distributions | ' | ' | -467,729 | ' | ' | ' | ' | ' |
Supplemental Executive Retirement Plan (SERP) | ' | ' | 10,765 | ' | ' | ' | ' | ' |
Acquisition of Noncontrolling Interests - Partially Owned Properties | ' | ' | -4,784 | ' | ' | -8,025 | ' | ' |
Change in market value of Redeemable Limited Partners | ' | ' | -22,714 | ' | ' | ' | ' | ' |
Adjustment for Limited Partners ownership in Operating Partnership | ' | ' | -946 | 946 | ' | ' | ' | ' |
Issuance of OP Units to Noncontrolling Interests | ' | ' | ' | 0 | ' | ' | ' | ' |
Issuance Of Long Term Incentive Plan Units Into Noncontrolling Interest | ' | ' | ' | 0 | ' | ' | ' | ' |
Equity compensation associated with Units - Limited Partners | ' | ' | ' | 3,641 | ' | ' | ' | ' |
Limited Partners | ' | ' | ' | 40,780 | ' | ' | ' | ' |
Units - Limited Partners distributions | ' | ' | ' | -21,434 | ' | ' | ' | ' |
Change in carrying value of Redeemable Limited Partners | ' | ' | ' | -10,150 | ' | ' | ' | ' |
Accumulated other comprehensive (loss) income - derivative instruments: | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the year | -143,598 | ' | ' | ' | -143,598 | ' | ' | ' |
Losses reclassified into earnings from other comprehensive income | -4,343 | ' | ' | ' | 4,343 | ' | ' | ' |
Accumulated other comprehensive income (loss) - other instruments: | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | 355 | ' | ' | ' | 355 | ' | ' | ' |
Gain on Sale of Securities, Net | 0 | ' | ' | ' | 0 | ' | ' | ' |
Currency translation adjustments arising during the year | 0 | ' | ' | ' | 0 | ' | ' | ' |
Net income | 935,197 | ' | ' | ' | ' | 832 | ' | ' |
Contributions - Noncontrolling Interests - Partially Owned Properties | 75,911 | ' | ' | ' | ' | 75,911 | ' | ' |
Archstone Acquisition Noncontrolling Interests Partially Owned Properties | ' | ' | ' | ' | ' | 0 | ' | ' |
Distributions to Noncontrolling Interests | ' | ' | ' | ' | ' | -1,163 | ' | ' |
Stockholders' Equity, Other | ' | ' | ' | ' | ' | -1,240 | ' | ' |
Balance, end of period at Dec. 31, 2011 | ' | 200,000 | 5,665,733 | 119,536 | -196,718 | 74,306 | ' | ' |
Payments for Repurchase of Preferred Stock and Preference Stock | 150,000 | -150,000 | ' | ' | ' | ' | ' | ' |
Preferred Stock Preference Units Dividend Rate Percentage | ' | ' | ' | ' | ' | ' | 6.48% | 0.00% |
OP Unit Issuance: | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of OP Units held by Limited Partners into OP Units held by General Partner | ' | ' | 18,929 | -18,929 | ' | ' | ' | ' |
Issuance of OP Units | ' | ' | 1,388,583 | ' | ' | ' | ' | ' |
Exercise of EQR share options | ' | ' | 49,039 | ' | ' | ' | ' | ' |
EQR's Employee Share Purchase Plan (ESPP) | ' | ' | 5,399 | ' | ' | ' | ' | ' |
Conversion of EQR restricted shares to LTIP Units | ' | ' | 0 | 0 | ' | ' | ' | ' |
Share-based employee compensation expense: | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | ' | ' | 8,936 | ' | ' | ' | ' | ' |
EQR share options | ' | ' | 11,752 | ' | ' | ' | ' | ' |
EQR ESPP discount | ' | ' | 965 | ' | ' | ' | ' | ' |
Offering costs | ' | ' | -39,359 | ' | ' | ' | ' | ' |
Premium on Redemption of Preferred Shares Preference Units Original Issuance | ' | ' | 5,129 | ' | ' | ' | ' | ' |
Net income available to Units - General Partner | ' | ' | 826,212 | ' | ' | ' | ' | ' |
OP Units - General Partner distributions | ' | ' | -554,429 | ' | ' | ' | ' | ' |
Supplemental Executive Retirement Plan (SERP) | ' | ' | 282 | ' | ' | ' | ' | ' |
Acquisition of Noncontrolling Interests - Partially Owned Properties | ' | ' | 1,293 | ' | ' | -1,306 | ' | ' |
Change in market value of Redeemable Limited Partners | ' | ' | 38,734 | ' | ' | ' | ' | ' |
Adjustment for Limited Partners ownership in Operating Partnership | ' | ' | 5,763 | -5,763 | ' | ' | ' | ' |
Issuance of OP Units to Noncontrolling Interests | ' | ' | ' | 66,606 | ' | ' | ' | ' |
Issuance Of Long Term Incentive Plan Units Into Noncontrolling Interest | ' | ' | ' | 5 | ' | ' | ' | ' |
Equity compensation associated with Units - Limited Partners | ' | ' | ' | 5,307 | ' | ' | ' | ' |
Limited Partners | ' | ' | ' | 38,641 | ' | ' | ' | ' |
Units - Limited Partners distributions | ' | ' | ' | -25,095 | ' | ' | ' | ' |
Change in carrying value of Redeemable Limited Partners | ' | ' | ' | -20,702 | ' | ' | ' | ' |
Accumulated other comprehensive (loss) income - derivative instruments: | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the year | -11,772 | ' | ' | ' | -11,772 | ' | ' | ' |
Losses reclassified into earnings from other comprehensive income | -14,678 | ' | ' | ' | 14,678 | ' | ' | ' |
Accumulated other comprehensive income (loss) - other instruments: | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | 664 | ' | ' | ' | 664 | ' | ' | ' |
Gain on Sale of Securities, Net | 0 | ' | ' | ' | 0 | ' | ' | ' |
Currency translation adjustments arising during the year | 0 | ' | ' | ' | 0 | ' | ' | ' |
Net income | 881,204 | ' | ' | ' | ' | 844 | ' | ' |
Contributions - Noncontrolling Interests - Partially Owned Properties | 8,221 | ' | ' | ' | ' | 8,221 | ' | ' |
Archstone Acquisition Noncontrolling Interests Partially Owned Properties | ' | ' | ' | ' | ' | 0 | ' | ' |
Distributions to Noncontrolling Interests | ' | ' | ' | ' | ' | -5,131 | ' | ' |
Stockholders' Equity, Other | ' | ' | ' | ' | ' | 754 | ' | ' |
Balance, end of period at Dec. 31, 2012 | ' | 50,000 | 7,432,961 | 159,606 | -193,148 | 77,688 | ' | ' |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | ' | ' | ' | ' | 150,000 | ' |
Preferred Stock Preference Units Dividend Rate Percentage | ' | ' | ' | ' | ' | ' | 6.48% | 6.48% |
OP Unit Issuance: | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of OP Units held by Limited Partners into OP Units held by General Partner | ' | ' | 1,699 | -1,699 | ' | ' | ' | ' |
Issuance of OP Units | ' | ' | 1,929,868 | ' | ' | ' | ' | ' |
Exercise of EQR share options | ' | ' | 17,252 | ' | ' | ' | ' | ' |
EQR's Employee Share Purchase Plan (ESPP) | ' | ' | 3,401 | ' | ' | ' | ' | ' |
Conversion of EQR restricted shares to LTIP Units | ' | ' | 0 | 0 | ' | ' | ' | ' |
Share-based employee compensation expense: | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | ' | ' | 13,264 | ' | ' | ' | ' | ' |
EQR share options | ' | ' | 10,514 | ' | ' | ' | ' | ' |
EQR ESPP discount | ' | ' | 632 | ' | ' | ' | ' | ' |
Offering costs | ' | ' | -1,047 | ' | ' | ' | ' | ' |
Premium on Redemption of Preferred Shares Preference Units Original Issuance | ' | ' | 0 | ' | ' | ' | 5,100 | ' |
Net income available to Units - General Partner | ' | ' | 1,826,468 | ' | ' | ' | ' | ' |
OP Units - General Partner distributions | ' | ' | -666,565 | ' | ' | ' | ' | ' |
Supplemental Executive Retirement Plan (SERP) | ' | ' | -422 | ' | ' | ' | ' | ' |
Acquisition of Noncontrolling Interests - Partially Owned Properties | ' | ' | 0 | ' | ' | 0 | ' | ' |
Change in market value of Redeemable Limited Partners | ' | ' | 79,667 | ' | ' | ' | ' | ' |
Adjustment for Limited Partners ownership in Operating Partnership | ' | ' | -35,329 | 35,329 | ' | ' | ' | ' |
Issuance of OP Units to Noncontrolling Interests | ' | ' | ' | 0 | ' | ' | ' | ' |
Issuance Of Long Term Incentive Plan Units Into Noncontrolling Interest | ' | ' | ' | 5 | ' | ' | ' | ' |
Equity compensation associated with Units - Limited Partners | ' | ' | ' | 13,609 | ' | ' | ' | ' |
Limited Partners | ' | ' | ' | 75,278 | ' | ' | ' | ' |
Units - Limited Partners distributions | ' | ' | ' | -26,277 | ' | ' | ' | ' |
Change in carrying value of Redeemable Limited Partners | ' | ' | ' | -44,439 | ' | ' | ' | ' |
Accumulated other comprehensive (loss) income - derivative instruments: | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the year | 18,771 | ' | ' | ' | 18,771 | ' | ' | ' |
Losses reclassified into earnings from other comprehensive income | -20,141 | ' | ' | ' | 20,141 | ' | ' | ' |
Accumulated other comprehensive income (loss) - other instruments: | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | 583 | ' | ' | ' | 583 | ' | ' | ' |
Gain on Sale of Securities, Net | -2,122 | ' | ' | ' | -2,122 | ' | ' | ' |
Currency translation adjustments arising during the year | 613 | ' | ' | ' | 613 | ' | ' | ' |
Net income | 1,905,353 | ' | ' | ' | ' | -538 | ' | ' |
Contributions - Noncontrolling Interests - Partially Owned Properties | 27,660 | ' | ' | ' | ' | 27,660 | ' | ' |
Archstone Acquisition Noncontrolling Interests Partially Owned Properties | ' | ' | ' | ' | ' | 28,263 | ' | ' |
Distributions to Noncontrolling Interests | ' | ' | ' | ' | ' | -6,490 | ' | ' |
Stockholders' Equity, Other | ' | ' | ' | ' | ' | 0 | ' | ' |
Balance, end of period at Dec. 31, 2013 | ' | $50,000 | $10,612,363 | $211,412 | ($155,162) | $126,583 | ' | ' |
Business
Business | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Business [Abstract] | ' | ||||||
Business | ' | ||||||
1 | Business | ||||||
Equity Residential (“EQR”), a Maryland real estate investment trust (“REIT”) formed in March 1993, is an S&P 500 company focused on the acquisition, development and management of high quality apartment properties in top United States growth markets. ERP Operating Limited Partnership ("ERPOP"), an Illinois limited partnership, was formed in May 1993 to conduct the multifamily residential property business of Equity Residential. EQR has elected to be taxed as a REIT. References to the "Company," "we," "us" or "our" mean collectively EQR, ERPOP and those entities/subsidiaries owned or controlled by EQR and/or ERPOP. References to the "Operating Partnership" mean collectively ERPOP and those entities/subsidiaries owned or controlled by ERPOP. Unless otherwise indicated, the notes to consolidated financial statements apply to both the Company and the Operating Partnership. | |||||||
EQR is the general partner of, and as of December 31, 2013 owned an approximate 96.2% ownership interest in, ERPOP. All of the Company's property ownership, development and related business operations are conducted through the Operating Partnership and EQR has no material assets or liabilities other than its investment in ERPOP. EQR issues public equity from time to time but does not have any indebtedness as all debt is incurred by the Operating Partnership. The Operating Partnership holds substantially all of the assets of the Company, including the Company's ownership interests in its joint ventures. The Operating Partnership conducts the operations of the business and is structured as a partnership with no publicly traded equity. | |||||||
As of December 31, 2013, the Company, directly or indirectly through investments in title holding entities, owned all or a portion of 390 properties located in 12 states and the District of Columbia consisting of 109,855 apartment units. The ownership breakdown includes (table does not include various uncompleted development properties): | |||||||
Properties | Apartment Units | ||||||
Wholly Owned Properties | 362 | 98,468 | |||||
Master-Leased Properties – Consolidated | 3 | 853 | |||||
Partially Owned Properties – Consolidated | 19 | 3,752 | |||||
Partially Owned Properties – Unconsolidated | 4 | 1,669 | |||||
Military Housing | 2 | 5,113 | |||||
390 | 109,855 | ||||||
The “Wholly Owned Properties” are accounted for under the consolidation method of accounting. The "Master-Leased Properties – Consolidated" are wholly owned by the Company but the entire project is leased to a third party corporate housing provider. These properties are consolidated and reflected as real estate assets while the master leases are accounted for as operating leases. The “Partially Owned Properties – Consolidated” are controlled by the Company but have partners with noncontrolling interests and are accounted for under the consolidation method of accounting. The “Partially Owned Properties – Unconsolidated” are controlled by the Company's partners but the Company has noncontrolling interests and are accounted for under the equity method of accounting. The “Military Housing” properties consist of investments in limited liability companies that, as a result of the terms of the operating agreements, are accounted for as management contract rights with all fees recognized as fee and asset management revenue. | |||||||
The Company maintains long-term ground leases for 13 operating properties and one of its wholly owned development properties and land parcels. The Company owns the building and improvements and leases the land underlying the improvements under long-term ground leases. The leases expire beginning in 2026 and running through 2110. These properties are consolidated and reflected as real estate assets while the ground leases are accounted for as operating leases. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||
2 | Summary of Significant Accounting Policies | ||||||||||||
Basis of Presentation | |||||||||||||
Due to the Company’s ability as general partner to control either through ownership or by contract the Operating Partnership and its subsidiaries, the Operating Partnership and each such subsidiary has been consolidated with the Company for financial reporting purposes, except for one unconsolidated development property, four unconsolidated operating properties and our military housing properties. The consolidated financial statements also include all variable interest entities for which the Company is the primary beneficiary. | |||||||||||||
Noncontrolling interests represented by EQR's indirect 1% interest in various entities are immaterial and have not been accounted for in the Consolidated Financial Statements of the Operating Partnership. In addition, certain amounts due from EQR for its 1% interest in various entities have not been reflected in the consolidated balance sheets of the Operating Partnership since such amounts are immaterial. | |||||||||||||
Real Estate Assets and Depreciation of Investment in Real Estate | |||||||||||||
Effective for business combinations on or after January 1, 2009, an acquiring entity is required to recognize all assets acquired and liabilities assumed in a transaction at the acquisition-date fair value with limited exceptions. In addition, an acquiring entity is required to expense acquisition-related costs as incurred, value noncontrolling interests at fair value at the acquisition date and expense restructuring costs associated with an acquired business. | |||||||||||||
The Company allocates 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, the Company utilizes a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property, our own analysis of recently acquired and existing comparable properties in our portfolio and other market data. The Company also considers information obtained about each property as a result of its pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the tangible and intangible assets/liabilities acquired. The Company allocates the purchase price of acquired real estate to various components as follows: | |||||||||||||
• | Land – Based on actual purchase price adjusted to fair value (as necessary) if acquired separately or market research/comparables if acquired with an operating property. | ||||||||||||
• | Furniture, Fixtures and Equipment – Ranges between $3,000 and $13,000 per apartment unit acquired as an estimate of the fair value of the appliances and fixtures inside an apartment unit. The per-apartment unit amount applied depends on the type of apartment building acquired. Depreciation is calculated on the straight-line method over an estimated useful life of five to ten years. | ||||||||||||
• | Lease Intangibles – The Company considers the value of acquired in-place leases and above/below market leases and the amortization period is the average remaining term of each respective acquired lease. In-place residential leases' average term at acquisition approximates six months. See Note 4 for more information on above and below market leases. | ||||||||||||
• | Other Intangible Assets – The Company considers whether it has acquired other intangible assets, including any customer relationship intangibles and the amortization period is the estimated useful life of the acquired intangible asset. | ||||||||||||
• | Building – Based on the fair value determined on an “as-if vacant” basis. Depreciation is calculated on the straight-line method over an estimated useful life of thirty years. | ||||||||||||
• | Site Improvements – Based on replacement cost, which approximates fair value. Depreciation is calculated on the straight-line method over an estimated useful life of eight years. | ||||||||||||
• | Long-Term Debt – The Company calculates the fair value by discounting the remaining contractual cash flows on each instrument at the current market rate for those borrowings. | ||||||||||||
Replacements inside an apartment unit such as appliances and carpeting are depreciated over an estimated useful life of five to ten years. Expenditures for ordinary maintenance and repairs are expensed to operations as incurred and significant renovations and improvements that improve and/or extend the useful life of the asset are capitalized over their estimated useful life, generally five to fifteen years. Initial direct leasing costs are expensed as incurred as such expense approximates the deferral and amortization of initial direct leasing costs over the lease terms. Property sales or dispositions are recorded when title transfers to unrelated third parties, contingencies have been removed and sufficient cash consideration has been received by the Company. Upon disposition, the related costs and accumulated depreciation are removed from the respective accounts. Any gain or loss on sale is recognized in accordance with accounting principles generally accepted in the United States. | |||||||||||||
The Company classifies real estate assets as real estate held for disposition when it is certain a property will be disposed of (see further discussion below). | |||||||||||||
The Company classifies properties under development and/or expansion and properties in the lease-up phase (including land) as construction-in-progress until construction has been completed and all certificates of occupancy permits have been obtained. | |||||||||||||
Impairment of Long-Lived Assets | |||||||||||||
The Company periodically evaluates its long-lived assets, including its investments in real estate, for indicators of impairment. The judgments regarding the existence of impairment indicators are based on factors such as operational performance, market conditions and legal and environmental concerns, as well as the Company’s ability to hold and its intent with regard to each asset. Future events could occur which would cause the Company to conclude that impairment indicators exist and an impairment loss is warranted. If impairment indicators exist, the Company performs the following: | |||||||||||||
▪ | For long-lived assets to be held and used, the Company compares the expected future undiscounted cash flows for the long-lived asset against the carrying amount of that asset. If the sum of the estimated undiscounted cash flows is less than the carrying amount of the asset, the Company would record an impairment loss for the difference between the estimated fair value and the carrying amount of the asset. | ||||||||||||
▪ | For long-lived assets to be disposed of, an impairment loss is recognized when the estimated fair value of the asset, less the estimated cost to sell, is less than the carrying amount of the asset measured at the time that the Company has determined it will sell the asset. Long-lived assets held for disposition and the related liabilities are separately reported, with the long-lived assets reported at the lower of their carrying amounts or their estimated fair values, less their costs to sell, and are not depreciated after reclassification to real estate held for disposition. | ||||||||||||
Cost Capitalization | |||||||||||||
See the Real Estate Assets and Depreciation of Investment in Real Estate section for a discussion of the Company’s policy with respect to capitalization vs. expensing of fixed asset/repair and maintenance costs. In addition, the Company capitalizes an allocation of the payroll and associated costs of employees directly responsible for and who spend their time on the execution and supervision of major capital and/or renovation projects. These costs are reflected on the balance sheets as increases to depreciable property. | |||||||||||||
For all development projects, the Company uses its professional judgment in determining whether such costs meet the criteria for capitalization or must be expensed as incurred. The Company capitalizes interest, real estate taxes and insurance and payroll and associated costs for those individuals directly responsible for and who spend their time on development activities, with capitalization ceasing no later than 90 days following issuance of the certificate of occupancy. These costs are reflected on the balance sheets as construction-in-progress for each specific property. The Company expenses as incurred all payroll costs of on-site employees working directly at our properties, except as noted above on our development properties prior to certificate of occupancy issuance and on specific major renovations at selected properties when additional incremental employees are hired. | |||||||||||||
During the years ended December 31, 2013, 2012 and 2011, the Company capitalized $16.5 million, $14.3 million and $11.6 million, respectively, of payroll and associated costs of employees directly responsible for and who spend their time on the execution and supervision of development activities as well as major capital and/or renovation projects. | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
The Company considers all demand deposits, money market accounts and investments in certificates of deposit and repurchase agreements purchased with a maturity of three months or less at the date of purchase to be cash equivalents. The Company maintains its cash and cash equivalents at financial institutions. The combined account balances at one or more institutions typically exceed the Federal Depository Insurance Corporation (“FDIC”) insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. The Company believes that the risk is not significant, as the Company does not anticipate the financial institutions’ non-performance. | |||||||||||||
Investment Securities | |||||||||||||
Investment securities are included in other assets in the consolidated balance sheets. These securities are classified as held-to-maturity and carried at amortized cost if management has the positive intent and ability to hold the securities to maturity. Otherwise, the securities are classified as available-for-sale and carried at estimated fair value with unrealized gains and losses included in accumulated other comprehensive (loss), a separate component of shareholders’ equity/partners' capital. As of December 31, 2013, the Company did not hold any investment securities. | |||||||||||||
Deferred Financing Costs | |||||||||||||
Deferred financing costs include fees and costs incurred to obtain the Company’s lines of credit and long-term financings. These costs are amortized over the terms of the related debt. Unamortized financing costs are written off when debt is retired before the maturity date. The accumulated amortization of such deferred financing costs was $33.4 million and $32.2 million at December 31, 2013 and 2012, respectively. | |||||||||||||
Fair Value of Financial Instruments, Including Derivative Instruments | |||||||||||||
The valuation of financial instruments requires the Company to make estimates and judgments that affect the fair value of the instruments. The Company, where possible, bases the fair values of its financial instruments, including its derivative instruments, on listed market prices and third party quotes. Where these are not available, the Company bases its estimates on current instruments with similar terms and maturities or on other factors relevant to the financial instruments. | |||||||||||||
In the normal course of business, the Company is exposed to the effect of interest rate changes. The Company seeks to manage these risks by following established risk management policies and procedures including the use of derivatives to hedge interest rate risk on debt instruments. The Company may also use derivatives to manage its exposure to foreign exchange rates or manage commodity prices in the daily operations of the business. | |||||||||||||
The Company has a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors. When viewed in conjunction with the underlying and offsetting exposure that the derivatives are designed to hedge, the Company has not sustained a material loss from these instruments nor does it anticipate any material adverse effect on its net income or financial position in the future from the use of derivatives it currently has in place. | |||||||||||||
The Company recognizes all derivatives as either assets or liabilities in the consolidated balance sheets and measures those instruments at fair value. In addition, fair value adjustments will affect either shareholders’ equity/partners' capital or net income depending on whether the derivative instruments qualify as a hedge for accounting purposes and, if so, the nature of the hedging activity. When the terms of an underlying transaction are modified, or when the underlying transaction is terminated or completed, all changes in the fair value of the instrument are marked-to-market with changes in value included in net income each period until the instrument matures. Any derivative instrument used for risk management that does not meet the hedging criteria is marked-to-market each period. The Company does not use derivatives for trading or speculative purposes. | |||||||||||||
Revenue Recognition | |||||||||||||
Rental income attributable to leases is recorded on a straight-line basis, which is not materially different than if it were recorded when due from residents and recognized monthly as it was earned. Leases entered into between a resident and a property for the rental of an apartment unit are generally year-to-year, renewable upon consent of both parties on an annual or monthly basis. Retail/commercial leases generally have five to ten year lease terms with market based renewal options. Fee and asset management revenue and interest income are recorded on an accrual basis. | |||||||||||||
Share-Based Compensation | |||||||||||||
The Company expenses share-based compensation such as restricted shares and share options. Any common share of beneficial interest, $0.01 par value per share (the "Common Shares") issued pursuant to EQR's incentive equity compensation and employee share purchase plans will result in ERPOP issuing units of limited partnership interest ("OP Units") to EQR on a one-for-one basis, with ERPOP receiving the net cash proceeds of such issuances. | |||||||||||||
The fair value of the option grants are recognized over the requisite service/vesting period of the options. The fair value for the Company's share options was estimated at the time the share options were granted using the Black-Scholes option pricing model with the primary grant in each year having the following weighted average assumptions: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected volatility (1) | 26.90% | 27.40% | 27.10% | ||||||||||
Expected life (2) | 5 years | 5 years | 5 years | ||||||||||
Expected dividend yield (3) | 4.12% | 4.35% | 4.56% | ||||||||||
Risk-free interest rate (4) | 0.84% | 0.71% | 2.27% | ||||||||||
Option valuation per share | $7.90 | $8.54 | $8.36 | ||||||||||
-1 | Expected volatility – Estimated based on the historical ten-year volatility of EQR’s share price measured on a monthly basis. | ||||||||||||
-2 | Expected life – Approximates the actual weighted average life of all share options granted since the Company went public in 1993. | ||||||||||||
-3 | Expected dividend yield – Calculated by averaging the historical annual yield on EQR shares for a period matching the expected life of each grant, with the annual yield calculated by dividing actual dividends by the average price of EQR’s shares in a given year. | ||||||||||||
-4 | Risk-free interest rate – The most current U.S. Treasury rate available prior to the grant date for a period matching the expected life of each grant. | ||||||||||||
The valuation method and assumptions are the same as those the Company used in accounting for option expense in its consolidated financial statements. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. This model is only one method of valuing options. Because the Company’s share options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, the actual value of the options to the recipient may be significantly different. | |||||||||||||
Income and Other Taxes | |||||||||||||
Due to the structure of EQR as a REIT and the nature of the operations of its operating properties, no provision for federal income taxes has been made at the EQR level. In addition, ERPOP generally is not liable for federal income taxes as the partners recognize their proportionate share of income or loss in their tax returns; therefore no provision for federal income taxes has been made at the ERPOP level. Historically, the Company has generally only incurred certain state and local income, excise and franchise taxes. The Company has elected Taxable REIT Subsidiary (“TRS”) status for certain of its corporate subsidiaries and as a result, these entities will incur both federal and state income taxes on any taxable income of such entities after consideration of any net operating losses. | |||||||||||||
Deferred tax assets and liabilities applicable to the TRS are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. These assets and liabilities are measured using enacted tax rates for which the temporary differences are expected to be recovered or settled. The effects of changes in tax rates on deferred tax assets and liabilities are recognized in earnings in the period enacted. The Company’s deferred tax assets are generally the result of tax affected suspended interest deductions, net operating losses, differing depreciable lives on capitalized assets and the timing of expense recognition for certain accrued liabilities. As of December 31, 2013, the Company has recorded a deferred tax asset of approximately $79.6 million, which is fully offset by a valuation allowance due to the uncertainty in forecasting future TRS taxable income. | |||||||||||||
The Company provided for income, franchise and excise taxes allocated as follows in the consolidated statements of operations and comprehensive income for the years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income and other tax expense (benefit) (1) | $ | 1,169 | $ | 514 | $ | 706 | |||||||
Discontinued operations, net (2) | 449 | 34 | (221 | ) | |||||||||
Provision for income, franchise and excise taxes (3) | $ | 1,618 | $ | 548 | $ | 485 | |||||||
-1 | Primarily includes state and local income, excise and franchise taxes. | ||||||||||||
-2 | Primarily represents federal income taxes (recovered) on the gains on sales of land parcels and condominium units owned by a TRS and included in discontinued operations. Also represents state and local income, excise and franchise taxes on operating properties sold and included in discontinued operations. | ||||||||||||
-3 | All provisions for income tax amounts are current and none are deferred. | ||||||||||||
The Company’s TRSs have approximately $63.1 million of NOL carryforwards available as of January 1, 2014 that will expire between 2028 and 2032. | |||||||||||||
During the years ended December 31, 2013, 2012 and 2011, the Company’s tax treatment of dividends and distributions were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Tax treatment of dividends and distributions: | |||||||||||||
Ordinary dividends | $ | 0.662 | $ | 1.375 | $ | 0.667 | |||||||
Qualified dividends | 0.05 | — | — | ||||||||||
Long-term capital gain | 0.87 | 0.253 | 0.629 | ||||||||||
Unrecaptured section 1250 gain | 0.268 | 0.152 | 0.284 | ||||||||||
Dividends and distributions declared per | |||||||||||||
Common Share/Unit outstanding | $ | 1.85 | $ | 1.78 | $ | 1.58 | |||||||
The cost of land and depreciable property, net of accumulated depreciation, for federal income tax purposes as of December 31, 2013 and 2012 was approximately $15.2 billion and $11.2 billion, respectively. | |||||||||||||
Noncontrolling Interests | |||||||||||||
A noncontrolling interest in a subsidiary (minority interest) is in most cases an ownership interest in the consolidated entity that should be reported as equity in the consolidated financial statements and separate from the parent company's equity. In addition, consolidated net income is required to be reported at amounts that include the amounts attributable to both the parent and the noncontrolling interest and the amount of consolidated net income attributable to the parent and the noncontrolling interest are required to be disclosed on the face of the consolidated statements of operations and comprehensive income. See Note 3 for further discussion. | |||||||||||||
Operating Partnership: Net income is allocated to noncontrolling interests based on their respective ownership percentage of the Operating Partnership. The ownership percentage is calculated by dividing the number of OP Units held by the noncontrolling interests by the total OP Units held by the noncontrolling interests and EQR. Issuance of additional Common Shares and OP Units changes the ownership interests of both the noncontrolling interests and EQR. Such transactions and the related proceeds are treated as capital transactions. | |||||||||||||
Partially Owned Properties: The Company reflects noncontrolling interests in partially owned properties on the balance sheet for the portion of properties consolidated by the Company that are not wholly owned by the Company. The earnings or losses from those properties attributable to the noncontrolling interests are reflected as noncontrolling interests in partially owned properties in the consolidated statements of operations and comprehensive income. | |||||||||||||
Partners' Capital | |||||||||||||
The "Limited Partners" of ERPOP include various individuals and entities that contributed their properties to ERPOP in exchange for OP Units. The "General Partner" of ERPOP is EQR. Net income is allocated to the Limited Partners based on their respective ownership percentage of the Operating Partnership. The ownership percentage is calculated by dividing the number of OP Units held by the Limited Partners by the total OP Units held by the Limited Partners and the General Partner. Issuance of additional Common Shares and OP Units changes the ownership interests of both the Limited Partners and EQR. Such transactions and the related proceeds are treated as capital transactions. | |||||||||||||
Redeemable Noncontrolling Interests – Operating Partnership / Redeemable Limited Partners | |||||||||||||
The Company classifies Redeemable Noncontrolling Interests – Operating Partnership / Redeemable Limited Partners in the mezzanine section of the consolidated balance sheets for the portion of OP Units that EQR is required, either by contract or securities law, to deliver registered Common Shares to the exchanging OP Unit holder. The redeemable noncontrolling interest units / redeemable limited partner units are adjusted to the greater of carrying value or fair market value based on the Common Share price of EQR at the end of each respective reporting period. See Note 3 for further discussion. | |||||||||||||
Use of Estimates | |||||||||||||
In preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | |||||||||||||
Reclassifications | |||||||||||||
Certain reclassifications considered necessary for a fair presentation have been made to the prior period financial statements in order to conform to the current year presentation. These reclassifications have not changed the results of operations or equity/capital. | |||||||||||||
Other | |||||||||||||
The Company is the controlling partner in various consolidated partnerships owning 19 properties and 3,752 apartment units and various completed and uncompleted development properties having a noncontrolling interest book value of $126.6 million at December 31, 2013. The Company is required to make certain disclosures regarding noncontrolling interests in consolidated limited-life subsidiaries. Of the consolidated entities described above, the Company is the controlling partner in limited-life partnerships owning six properties having a noncontrolling interest deficit balance of $9.8 million. These six partnership agreements contain provisions that require the partnerships to be liquidated through the sale of their assets upon reaching a date specified in each respective partnership agreement. The Company, as controlling partner, has an obligation to cause the property owning partnerships to distribute the proceeds of liquidation to the Noncontrolling Interests in these Partially Owned Properties only to the extent that the net proceeds received by the partnerships from the sale of their assets warrant a distribution based on the partnership agreements. As of December 31, 2013, the Company estimates the value of Noncontrolling Interest distributions for these six properties would have been approximately $51.2 million (“Settlement Value”) had the partnerships been liquidated. This Settlement Value is based on estimated third party consideration realized by the partnerships upon disposition of the six Partially Owned Properties and is net of all other assets and liabilities, including yield maintenance on the mortgages encumbering the properties, that would have been due on December 31, 2013 had those mortgages been prepaid. Due to, among other things, the inherent uncertainty in the sale of real estate assets, the amount of any potential distribution to the Noncontrolling Interests in the Company's Partially Owned Properties is subject to change. To the extent that the partnerships' underlying assets are worth less than the underlying liabilities, the Company has no obligation to remit any consideration to the Noncontrolling Interests in these Partially Owned Properties. | |||||||||||||
Effective January 1, 2011, companies are required to separately disclose purchases, sales, issuances and settlements on a gross basis in the reconciliation of recurring Level 3 fair value measurements. This does not have a material effect on the Company’s consolidated results of operations or financial position. See Note 9 for further discussion. | |||||||||||||
Effective January 1, 2012, companies are required to separately disclose the amounts and reasons for any transfers of assets and liabilities into and out of Level 1 and Level 2 of the fair value hierarchy. For fair value measurements using significant unobservable inputs (Level 3), companies are required to disclose quantitative information about the significant unobservable inputs used for all Level 3 measurements and a description of the Company's valuation processes in determining fair value. In addition, companies are required to provide a qualitative discussion about the sensitivity of recurring Level 3 measurements to changes in the unobservable inputs disclosed, including the interrelationship between inputs. Companies are also required to disclose information about when the current use of a non-financial asset measured at fair value differs from its highest and best use and the hierarchy classification for items whose fair value is not recorded on the balance sheet but is disclosed in the notes. This does not have a material effect on the Company's consolidated results of operations or financial position. See Notes 4 and 9 for further discussion. | |||||||||||||
Effective January 1, 2013, companies are required to report, in one place, information about reclassifications out of accumulated other comprehensive income ("AOCI"). Companies are also required to report changes in AOCI balances. For significant items reclassified out of AOCI to net income in their entirety in the same reporting period, reporting is required about the effect of the reclassifications on the respective line items in the statement where net income is presented. For items that are not reclassified to net income in their entirety in the same reporting period, a cross reference to other disclosures currently required under US GAAP is required in the notes. This does not have a material effect on the Company's consolidated results of operations or financial position. See Note 9 for further discussion. | |||||||||||||
Effective January 1, 2014, companies will be required to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of the amount a company agreed to pay on the basis of its arrangement among its co-obligors and any additional amount a company expects to pay on behalf of its co-obligors. Companies will also be required to disclose the nature and amount of the obligation as well as other information about those obligations. The Company does not expect that this will have a material effect on its consolidated results of operations or financial position. | |||||||||||||
Effective January 1, 2009, issuers of certain convertible debt instruments that may be settled in cash on conversion were required to separately account for the liability and equity components of the instrument in a manner that reflects each issuer's nonconvertible debt borrowing rate. As the Company was required to apply this retrospectively, the accounting for its $650.0 million 3.85% convertible unsecured notes that were issued in August 2006 with a final maturity in August 2026 was affected. On August 18, 2011, the Company redeemed these notes at par ($482.5 million was outstanding on August 18, 2011) and no premium was paid. The Company recognized $11.8 million in interest expense related to the stated coupon rate of 3.85% for the year ended December 31, 2011. The amount of the conversion option as of the date of issuance calculated by the Company using a 5.80% effective interest rate was $44.3 million and was amortized to interest expense over the expected life of the convertible notes (through the first put date on August 18, 2011). Total amortization of the cash discount and conversion option discount on the unsecured notes resulted in a reduction to earnings of approximately $5.0 million or $0.02 per share/Unit for the year ended December 31, 2011. In addition, the Company decreased the January 1, 2009 balance of retained earnings (included in general partner's capital in the Operating Partnership's financial statements) by $27.0 million, decreased the January 1, 2009 balance of notes by $17.3 million and increased the January 1, 2009 balance of paid in capital (included in general partner's capital in the Operating Partnership's financial statements) by $44.3 million. |
Equity_Capital_and_Other_Inter
Equity, Capital and Other Interests | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Equity, Capital and other Interests [Abstract] | ' | ||||||||||||||
Equity Capital And Other Interests [Text Block] | ' | ||||||||||||||
3 | Equity, Capital and Other Interests | ||||||||||||||
Equity and Redeemable Noncontrolling Interests of Equity Residential | |||||||||||||||
The following tables present the changes in the Company’s issued and outstanding Common Shares and “Units” (which includes OP Units and Long-Term Incentive Plan (“LTIP”) Units) for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Common Shares | |||||||||||||||
Common Shares outstanding at January 1, | 325,054,654 | 297,508,185 | 290,197,242 | ||||||||||||
Common Shares Issued: | |||||||||||||||
Conversion of OP Units | 67,939 | 675,817 | 341,594 | ||||||||||||
Issuance of Common Shares | 34,468,085 | 25,023,919 | 3,866,666 | ||||||||||||
Exercise of share options | 586,017 | 1,608,427 | 2,945,948 | ||||||||||||
Employee Share Purchase Plan (ESPP) | 73,468 | 110,054 | 113,107 | ||||||||||||
Restricted share grants, net | 229,097 | 128,252 | 145,616 | ||||||||||||
Common Shares Other: | |||||||||||||||
Conversion of restricted shares to LTIP Units | — | — | (101,988 | ) | |||||||||||
Common Shares outstanding at December 31, | 360,479,260 | 325,054,654 | 297,508,185 | ||||||||||||
Units | |||||||||||||||
Units outstanding at January 1, | 13,968,758 | 13,492,543 | 13,612,037 | ||||||||||||
LTIP Units, net | 279,557 | 70,235 | 120,112 | ||||||||||||
OP Units issued through acquisitions | — | 1,081,797 | — | ||||||||||||
Conversion of restricted shares to LTIP Units | — | — | 101,988 | ||||||||||||
Conversion of OP Units to Common Shares | (67,939 | ) | (675,817 | ) | (341,594 | ) | |||||||||
Units outstanding at December 31, | 14,180,376 | 13,968,758 | 13,492,543 | ||||||||||||
Total Common Shares and Units outstanding at December 31, | 374,659,636 | 339,023,412 | 311,000,728 | ||||||||||||
Units Ownership Interest in Operating Partnership | 3.8 | % | 4.1 | % | 4.3 | % | |||||||||
OP Units Issued: | |||||||||||||||
Acquisitions – per unit | — | $61.57 | — | ||||||||||||
Acquisitions – valuation | — | $66.6 million | — | ||||||||||||
The equity positions of various individuals and entities that contributed their properties to the Operating Partnership in exchange for OP Units, as well as the equity positions of the holders of LTIP Units, are collectively referred to as the “Noncontrolling Interests – Operating Partnership”. Subject to certain exceptions (including the “book-up” requirements of LTIP Units), the Noncontrolling Interests – Operating Partnership may exchange their Units with EQR for Common Shares on a one-for-one basis. The carrying value of the Noncontrolling Interests – Operating Partnership (including redeemable interests) is allocated based on the number of Noncontrolling Interests – Operating Partnership Units in total in proportion to the number of Noncontrolling Interests – Operating Partnership Units in total plus the number of Common Shares. Net income is allocated to the Noncontrolling Interests – Operating Partnership based on the weighted average ownership percentage during the period. | |||||||||||||||
The Operating Partnership has the right but not the obligation to make a cash payment instead of issuing Common Shares to any and all holders of Noncontrolling Interests – Operating Partnership Units requesting an exchange of their OP Units with EQR. Once the Operating Partnership elects not to redeem the Noncontrolling Interests – Operating Partnership Units for cash, EQR is obligated to deliver Common Shares to the exchanging holder of the Noncontrolling Interests – Operating Partnership Units. | |||||||||||||||
The Noncontrolling Interests – Operating Partnership Units are classified as either mezzanine equity or permanent equity. If EQR is required, either by contract or securities law, to deliver registered Common Shares, such Noncontrolling Interests – Operating Partnership are differentiated and referred to as “Redeemable Noncontrolling Interests – Operating Partnership”. Instruments that require settlement in registered shares can not be classified in permanent equity as it is not always completely within an issuer’s control to deliver registered shares. Therefore, settlement in cash is assumed and that responsibility for settlement in cash is deemed to fall to the Operating Partnership as the primary source of cash for EQR, resulting in presentation in the mezzanine section of the balance sheet. The Redeemable Noncontrolling Interests – Operating Partnership are adjusted to the greater of carrying value or fair market value based on the Common Share price of EQR at the end of each respective reporting period. EQR has the ability to deliver unregistered Common Shares for the remaining portion of the Noncontrolling Interests – Operating Partnership Units that are classified in permanent equity at December 31, 2013 and 2012. | |||||||||||||||
The carrying value of the Redeemable Noncontrolling Interests – Operating Partnership is allocated based on the number of Redeemable Noncontrolling Interests – Operating Partnership Units in proportion to the number of Noncontrolling Interests – Operating Partnership Units in total. Such percentage of the total carrying value of Units which is ascribed to the Redeemable Noncontrolling Interests – Operating Partnership is then adjusted to the greater of carrying value or fair market value as described above. As of December 31, 2013, the Redeemable Noncontrolling Interests – Operating Partnership have a redemption value of approximately $363.1 million, which represents the value of Common Shares that would be issued in exchange with the Redeemable Noncontrolling Interests – Operating Partnership Units. | |||||||||||||||
The following table presents the changes in the redemption value of the Redeemable Noncontrolling Interests – Operating Partnership for the years ended December 31, 2013, 2012 and 2011, respectively (amounts in thousands): | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Balance at January 1, | $ | 398,372 | $ | 416,404 | $ | 383,540 | |||||||||
Change in market value | (79,667 | ) | (38,734 | ) | 22,714 | ||||||||||
Change in carrying value | 44,439 | 20,702 | 10,150 | ||||||||||||
Balance at December 31, | $ | 363,144 | $ | 398,372 | $ | 416,404 | |||||||||
Net proceeds from EQR Common Share and Preferred Share (see definition below) offerings are contributed by EQR to ERPOP. In return for those contributions, EQR receives a number of OP Units in ERPOP equal to the number of Common Shares it has issued in the equity offering (or in the case of a preferred equity offering, a number of preference units in ERPOP equal in number and having the same terms as the Preferred Shares issued in the equity offering). As a result, the net offering proceeds from Common Shares and Preferred Shares are allocated between shareholders’ equity and Noncontrolling Interests – Operating Partnership to account for the change in their respective percentage ownership of the underlying equity of ERPOP. | |||||||||||||||
The Company’s declaration of trust authorizes it to issue up to $100,000,000 preferred shares of beneficial interest, $0.01 par value per share (the “Preferred Shares”), with specific rights, preferences and other attributes as the Board of Trustees may determine, which may include preferences, powers and rights that are senior to the rights of holders of the Company’s Common Shares. | |||||||||||||||
The following table presents the Company’s issued and outstanding Preferred Shares as of December 31, 2013 and 2012: | |||||||||||||||
Amounts in thousands | |||||||||||||||
Redemption | Annual | December 31, 2013 | 31-Dec-12 | ||||||||||||
Date (1) | Dividend per | ||||||||||||||
Share (2) | |||||||||||||||
Preferred Shares of beneficial interest, $0.01 par value; | |||||||||||||||
100,000,000 shares authorized: | |||||||||||||||
8.29% Series K Cumulative Redeemable Preferred; liquidation | 12/10/26 | $4.14 | $ | 50,000 | $ | 50,000 | |||||||||
value $50 per share; 1,000,000 shares issued and outstanding | |||||||||||||||
at December 31, 2013 and December 31, 2012 | |||||||||||||||
$ | 50,000 | $ | 50,000 | ||||||||||||
-1 | On or after the redemption date, redeemable preferred shares may be redeemed for cash at the option of the Company, in whole or in part, at a redemption price equal to the liquidation price per share, plus accrued and unpaid distributions, if any. | ||||||||||||||
-2 | Dividends on Preferred Shares are payable quarterly. | ||||||||||||||
Capital and Redeemable Limited Partners of ERP Operating Limited Partnership | |||||||||||||||
The following tables present the changes in the Operating Partnership's issued and outstanding Units and in the limited partners' Units for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
General and Limited Partner Units | |||||||||||||||
General and Limited Partner Units outstanding at January 1, | 339,023,412 | 311,000,728 | 303,809,279 | ||||||||||||
Issued to General Partner: | |||||||||||||||
Issuance of OP Units | 34,468,085 | 25,023,919 | 3,866,666 | ||||||||||||
Exercise of EQR share options | 586,017 | 1,608,427 | 2,945,948 | ||||||||||||
EQR's Employee Share Purchase Plan (ESPP) | 73,468 | 110,054 | 113,107 | ||||||||||||
EQR's restricted share grants, net | 229,097 | 128,252 | 145,616 | ||||||||||||
Issued to Limited Partners: | |||||||||||||||
LTIP Units, net | 279,557 | 70,235 | 120,112 | ||||||||||||
OP Units issued through acquisitions | — | 1,081,797 | — | ||||||||||||
General and Limited Partner Units outstanding at December 31, | 374,659,636 | 339,023,412 | 311,000,728 | ||||||||||||
Limited Partner Units | |||||||||||||||
Limited Partner Units outstanding at January 1, | 13,968,758 | 13,492,543 | 13,612,037 | ||||||||||||
Limited Partner LTIP Units, net | 279,557 | 70,235 | 120,112 | ||||||||||||
Limited Partner OP Units issued through acquisitions | — | 1,081,797 | — | ||||||||||||
Conversion of EQR restricted shares to LTIP Units | — | — | 101,988 | ||||||||||||
Conversion of Limited Partner OP Units to EQR Common Shares | (67,939 | ) | (675,817 | ) | (341,594 | ) | |||||||||
Limited Partner Units outstanding at December 31, | 14,180,376 | 13,968,758 | 13,492,543 | ||||||||||||
Limited Partner Units Ownership Interest in Operating Partnership | 3.8 | % | 4.1 | % | 4.3 | % | |||||||||
Limited Partner OP Units Issued: | |||||||||||||||
Acquisitions – per unit | — | $61.57 | — | ||||||||||||
Acquisitions – valuation | — | $66.6 million | — | ||||||||||||
The Limited Partners of the Operating Partnership as of December 31, 2013 include various individuals and entities that contributed their properties to the Operating Partnership in exchange for OP Units, as well as the equity positions of the holders of LTIP Units. Subject to certain exceptions (including the “book-up” requirements of LTIP Units), Limited Partners may exchange their Units with EQR for Common Shares on a one-for-one basis. The carrying value of the Limited Partner Units (including redeemable interests) is allocated based on the number of Limited Partner Units in total in proportion to the number of Limited Partner Units in total plus the number of General Partner Units. Net income is allocated to the Limited Partner Units based on the weighted average ownership percentage during the period. | |||||||||||||||
The Operating Partnership has the right but not the obligation to make a cash payment instead of issuing Common Shares to any and all holders of Limited Partner Units requesting an exchange of their OP Units with EQR. Once the Operating Partnership elects not to redeem the Limited Partner Units for cash, EQR is obligated to deliver Common Shares to the exchanging limited partner. | |||||||||||||||
The Limited Partner Units are classified as either mezzanine equity or permanent equity. If EQR is required, either by contract or securities law, to deliver registered Common Shares, such Limited Partner Units are differentiated and referred to as “Redeemable Limited Partner Units”. Instruments that require settlement in registered shares can not be classified in permanent equity as it is not always completely within an issuer's control to deliver registered shares. Therefore, settlement in cash is assumed and that responsibility for settlement in cash is deemed to fall to the Operating Partnership as the primary source of cash for EQR, resulting in presentation in the mezzanine section of the balance sheet. The Redeemable Limited Partner Units are adjusted to the greater of carrying value or fair market value based on the Common Share price of EQR at the end of each respective reporting period. EQR has the ability to deliver unregistered Common Shares for the remaining portion of the Limited Partner Units that are classified in permanent equity at December 31, 2013 and 2012. | |||||||||||||||
The carrying value of the Redeemable Limited Partner Units is allocated based on the number of Redeemable Limited Partner Units in proportion to the number of Limited Partner Units in total. Such percentage of the total carrying value of Limited Partner Units which is ascribed to the Redeemable Limited Partner Units is then adjusted to the greater of carrying value or fair market value as described above. As of December 31, 2013, the Redeemable Limited Partner Units have a redemption value of approximately $363.1 million, which represents the value of Common Shares that would be issued in exchange with the Redeemable Limited Partner Units. | |||||||||||||||
The following table presents the changes in the redemption value of the Redeemable Limited Partners for the years ended December 31, 2013, 2012 and 2011, respectively (amounts in thousands): | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Balance at January 1, | $ | 398,372 | $ | 416,404 | $ | 383,540 | |||||||||
Change in market value | (79,667 | ) | (38,734 | ) | 22,714 | ||||||||||
Change in carrying value | 44,439 | 20,702 | 10,150 | ||||||||||||
Balance at December 31, | $ | 363,144 | $ | 398,372 | $ | 416,404 | |||||||||
EQR contributes all net proceeds from its various equity offerings (including proceeds from exercise of options for Common Shares) to ERPOP. In return for those contributions, EQR receives a number of OP Units in ERPOP equal to the number of Common Shares it has issued in the equity offering (or in the case of a preferred equity offering, a number of preference units in ERPOP equal in number and having the same terms as the preferred shares issued in the equity offering). | |||||||||||||||
The following table presents the Operating Partnership's issued and outstanding “Preference Units” as of December 31, 2013 and 2012: | |||||||||||||||
Amounts in thousands | |||||||||||||||
Redemption | Annual | December 31, 2013 | 31-Dec-12 | ||||||||||||
Date (1) | Dividend per | ||||||||||||||
Unit (2) | |||||||||||||||
Preference Units: | |||||||||||||||
8.29% Series K Cumulative Redeemable Preference Units; | 12/10/26 | $4.14 | $ | 50,000 | $ | 50,000 | |||||||||
liquidation value $50 per unit; 1,000,000 units issued and | |||||||||||||||
outstanding at December 31, 2013 and December 31, 2012 | |||||||||||||||
$ | 50,000 | $ | 50,000 | ||||||||||||
-1 | On or after the redemption date, redeemable preference units may be redeemed for cash at the option of the Operating Partnership, in whole or in part, at a redemption price equal to the liquidation price per unit, plus accrued and unpaid distributions, if any, in conjunction with the concurrent redemption of the corresponding Company Preferred Shares. | ||||||||||||||
-2 | Dividends on Preference Units are payable quarterly. | ||||||||||||||
Other | |||||||||||||||
An unspecified amount of equity and debt securities remains available for issuance by EQR and ERPOP under a universal shelf registration statement that automatically became effective upon filing with the SEC on July 30, 2013 and expires on July 30, 2016. In July 2013, the Board of Trustees also approved an increase to the amount of shares which may be offered under the ATM (see definition below) program to 13.0 million Common Shares and extended the program maturity to July 2016. Per the terms of ERPOP's partnership agreement, EQR contributes the net proceeds of all equity offerings to the capital of ERPOP in exchange for additional OP Units (on a one-for-one Common Share per OP Unit basis) or preference units (on a one-for-one preferred share per preference unit basis). | |||||||||||||||
On February 27, 2013, the Company issued 34,468,085 Common Shares to an affiliate of Lehman Brothers Holdings Inc. as partial consideration for the portion of the Archstone Portfolio acquired by the Company (as discussed in Note 4 below). The shares had a total value of $1.9 billion based on the February 27, 2013 closing price of EQR Common Shares of $55.99 per share. Concurrent with this transaction, ERPOP issued 34,468,085 OP Units to EQR. On March 7, 2013, EQR filed a shelf registration statement relating to the resale of these shares by the selling shareholders. | |||||||||||||||
On November 28, 2012, as a partial source of funding for the Archstone Acquisition (see definition below), EQR priced the issuance of 21,850,000 Common Shares at a price of $54.75 per share for total consideration of approximately $1.2 billion, after deducting underwriting commissions of $35.9 million. Concurrent with this transaction, ERPOP issued 21,850,000 OP Units to EQR. | |||||||||||||||
In September 2009, the Company announced the establishment of an At-The-Market (“ATM”) share offering program which would allow EQR to sell up to 17.0 million Common Shares from time to time over the next three years (later increased by 5.7 million Common Shares and extended to February 2014) into the existing trading market at current market prices as well as through negotiated transactions. Per the terms of ERPOP's partnership agreement, EQR contributes the net proceeds from all equity offerings to the capital of ERPOP in exchange for additional OP Units (on a one-for-one Common Share per OP Unit basis). On July 30, 2013, the Company filed a new universal shelf registration statement to replace its existing universal shelf registration statement, which expired October 15, 2013. The Board of Trustees also approved an increase to the amount of shares which may be offered under the ATM program to 13.0 million Common Shares and extended the program maturity to July 2016. EQR has not issued any shares under this program since September 14, 2012. | |||||||||||||||
During the year ended December 31, 2012, EQR issued approximately 3.2 million Common Shares at an average price of $60.59 per share for total consideration of approximately $192.3 million through the ATM program. Concurrent with these transactions, ERPOP issued approximately 3.2 million OP Units to EQR. During the year ended December 31, 2011, EQR issued approximately 3.9 million Common Shares at an average price of $52.23 per share for total consideration of approximately $201.9 million through the ATM program. Concurrent with these transactions, ERPOP issued approximately 3.9 million OP Units to EQR. As of December 31, 2011, transactions to issue approximately 0.5 million of the 3.9 million Common Shares had not yet settled. As of December 31, 2011, the Company increased the number of Common Shares issued and outstanding by this amount and recorded a receivable of approximately $28.5 million included in other assets on the consolidated balance sheets. | |||||||||||||||
On June 16, 2011, the shareholders of EQR approved the Company's 2011 Share Incentive Plan, as amended (the “2011 Plan”). The 2011 Plan reserved 12,980,741 Common Shares for issuance. In conjunction with the approval of the 2011 Plan, no further awards may be granted under the 2002 Share Incentive Plan. The 2011 Plan expires on June 16, 2021. See Note 12 for further discussion. | |||||||||||||||
EQR has a share repurchase program authorized by the Board of Trustees under which it previously had authorization to repurchase up to $464.6 million of its shares. Effective July 30, 2013, the Board of Trustees approved an increase and modification to the Company's share repurchase program to allow for the potential repurchase of up to 13.0 million Common Shares. No shares were repurchased during the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||
On August 20, 2012, the Company redeemed its Series N Cumulative Redeemable Preferred Shares for cash consideration of $150.0 million plus accrued dividends through the redemption date. Concurrent with this transaction, the Operating Partnership redeemed its corresponding Series N Preference Units. The Company recorded the write-off of approximately $5.1 million in original issuance costs as a premium on the redemption of Preferred Shares/Preference Units. | |||||||||||||||
On April 18, 2012, the Operating Partnership issued 1,081,797 OP Units having a value of $66.6 million (based on the closing price for Common Shares of $61.57 on such date) as partial consideration for the acquisition of one rental property. | |||||||||||||||
During the year ended December 31, 2012, the Company acquired all of its partner's interest in one consolidated partially owned land parcel for no cash consideration. In conjunction with this transaction, the Company increased paid in capital (included in general partner's capital in the Operating Partnership's financial statements) by $1.3 million and reduced Noncontrolling Interests – Partially Owned Properties by $1.3 million. | |||||||||||||||
During the year ended December 31, 2011, the Company acquired all of its partners' interests in three consolidated partially owned properties consisting of 1,351 apartment units for $12.8 million. In conjunction with these transactions, the Company reduced paid in capital (included in general partner's capital in the Operating Partnership's financial statements) by $4.8 million and Noncontrolling Interests – Partially Owned Properties by $8.0 million. | |||||||||||||||
See Note 6 for a discussion of the Noncontrolling Interests assumed in conjunction with the acquisition of Archstone. |
Real_Estate
Real Estate | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Real Estate [Abstract] | ' | ||||||||||||||||||||
Real Estate Disclosure [Text Block] | ' | ||||||||||||||||||||
4 | Real Estate and Lease Intangibles | ||||||||||||||||||||
The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of December 31, 2013 and 2012 (amounts in thousands): | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Land | $ | 6,192,512 | $ | 4,554,912 | |||||||||||||||||
Depreciable property: | |||||||||||||||||||||
Buildings and improvements | 17,509,609 | 14,135,740 | |||||||||||||||||||
Furniture, fixtures and equipment | 1,214,220 | 1,343,765 | |||||||||||||||||||
In-Place lease intangibles | 502,218 | 232,439 | |||||||||||||||||||
Projects under development: | |||||||||||||||||||||
Land | 353,574 | 210,632 | |||||||||||||||||||
Construction-in-progress | 635,293 | 177,118 | |||||||||||||||||||
Land held for development: | |||||||||||||||||||||
Land | 341,389 | 294,868 | |||||||||||||||||||
Construction-in-progress | 52,133 | 58,955 | |||||||||||||||||||
Investment in real estate | 26,800,948 | 21,008,429 | |||||||||||||||||||
Accumulated depreciation | (4,807,709 | ) | (4,912,221 | ) | |||||||||||||||||
Investment in real estate, net | $ | 21,993,239 | $ | 16,096,208 | |||||||||||||||||
The following table summarizes the carrying amounts for the Company's above and below market ground and retail lease intangibles as of December 31, 2013 (amounts in thousands): | |||||||||||||||||||||
Description | Balance Sheet Location | Value | |||||||||||||||||||
Assets | |||||||||||||||||||||
Ground lease intangibles – below market | Other Assets | $ | 178,251 | ||||||||||||||||||
Retail lease intangibles – above market | Other Assets | 1,260 | |||||||||||||||||||
Lease intangible assets | 179,511 | ||||||||||||||||||||
Accumulated amortization | (4,364 | ) | |||||||||||||||||||
Lease intangible assets, net | $ | 175,147 | |||||||||||||||||||
Liabilities | |||||||||||||||||||||
Ground lease intangibles – above market | Other Liabilities | $ | 2,400 | ||||||||||||||||||
Retail lease intangibles – below market | Other Liabilities | 5,500 | |||||||||||||||||||
Lease intangible liabilities | 7,900 | ||||||||||||||||||||
Accumulated amortization | (1,161 | ) | |||||||||||||||||||
Lease intangible liabilities, net | $ | 6,739 | |||||||||||||||||||
During the year ended December 31, 2013, the Company amortized approximately $3.6 million of above and below market ground lease intangibles which is included (net increase) in property and maintenance expense in the accompanying consolidated statements of operations and comprehensive income and approximately $2.7 million of above and below market retail lease intangibles which is included (net increase) in rental income in the accompanying consolidated statements of operations and comprehensive income. | |||||||||||||||||||||
The weighted average amortization period for above and below market ground lease intangibles and retail lease intangibles is 49.8 years and 2.8 years, respectively. | |||||||||||||||||||||
The following table provides a summary of the aggregate amortization expense for above and below market ground lease intangibles and retail lease intangibles for each of the next five years (amounts in thousands): | |||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||||||
Ground lease intangibles | $ | 4,321 | $ | 4,321 | $ | 4,321 | $ | 4,321 | $ | 4,321 | |||||||||||
Retail lease intangibles | (1,010 | ) | (1,016 | ) | (908 | ) | (540 | ) | (71 | ) | |||||||||||
Total | $ | 3,311 | $ | 3,305 | $ | 3,413 | $ | 3,781 | $ | 4,250 | |||||||||||
Archstone Acquisition | |||||||||||||||||||||
On February 27, 2013, the Company, AvalonBay Communities, Inc. (“AVB”) and certain of their respective subsidiaries completed their previously announced acquisition (the “Archstone Acquisition” or the "Archstone Transaction") from Archstone Enterprise LP (“Enterprise”) (which subsequently changed its name to Jupiter Enterprise LP), an affiliate of Lehman Brothers Holdings, Inc. (“Lehman”) and its affiliates, of all of the assets of Enterprise (including interests in various entities affiliated with Enterprise), constituting a portfolio of apartment properties and other assets (the “Archstone Portfolio”). | |||||||||||||||||||||
The Company acquired assets representing approximately 60% of the Archstone Portfolio which consisted principally of high-quality apartment properties in major markets in the United States. The acquisition allowed the Company to accelerate the completion of its strategic shift into coastal apartment markets. Pursuant to the Archstone Transaction, the Company acquired directly or indirectly, 71 wholly owned, stabilized properties consisting of 20,160 apartment units, one partially owned and consolidated stabilized property consisting of 432 apartment units, one partially owned and unconsolidated stabilized property consisting of 336 apartment units, three consolidated master-leased properties consisting of 853 apartment units, four projects in various stages of construction (two consolidated and two unconsolidated) for 964 apartment units and fourteen land sites for approximately $9.0 billion. During the year ended December 31, 2013, the Company recorded revenues and net operating income ("NOI") of $514.7 million and $352.8 million, respectively, from the acquired assets. | |||||||||||||||||||||
The consideration paid by the Company in connection with the Archstone Acquisition consisted of cash of approximately $4.0 billion (inclusive of $2.0 billion of Archstone secured mortgage principal paid off in conjunction with the closing), 34,468,085 Common Shares (which shares had a total value of $1.9 billion based on the February 27, 2013 closing price of EQR common shares of $55.99 per share) issued to the seller and the assumption of approximately $3.1 billion of mortgage debt (inclusive of a net mark-to-market premium of $127.9 million) and approximately 60% of all of the other assets and liabilities related to the Archstone Portfolio. The cash consideration was funded with proceeds from the November 2012 public equity offering, the asset sales discussed below, the Company's new $750.0 million senior unsecured delayed draw term loan facility and the Company's revolving credit facility. | |||||||||||||||||||||
The Company owns the building and improvements and leases the land underlying the improvements under long-term ground leases that expire beginning in 2042 and running through 2103 for nine of the operating properties acquired and discussed above. These properties are consolidated and reflected as real estate assets while the ground leases are accounted for as operating leases. The Company also leases the three master-leased properties discussed above to third party operators and earns monthly net rental income. | |||||||||||||||||||||
The Company is accounting for the acquisition under the acquisition method in accordance with Accounting Standards Codification ("ASC") 805, Business Combinations (“ASC 805”), and the initial accounting for this business combination is substantially complete but subject to further adjustment as certain information becomes available (see further discussion below). The following table summarizes the acquisition date fair values of the assets acquired and liabilities assumed, which the Company determined using Level 1, Level 2 and Level 3 inputs (amounts in thousands): | |||||||||||||||||||||
Land | $ | 2,239,000 | |||||||||||||||||||
Depreciable property: | |||||||||||||||||||||
Buildings and improvements | 5,805,467 | ||||||||||||||||||||
Furniture, fixtures and equipment | 61,470 | ||||||||||||||||||||
In-Place lease intangibles | 304,830 | ||||||||||||||||||||
Projects under development | 36,583 | ||||||||||||||||||||
Land held for development | 244,097 | ||||||||||||||||||||
Investments in unconsolidated entities | 196,615 | ||||||||||||||||||||
Other assets | 195,260 | ||||||||||||||||||||
Other liabilities | (112,107 | ) | |||||||||||||||||||
Net assets acquired | $ | 8,971,215 | |||||||||||||||||||
The allocation of fair values of the assets acquired and liabilities assumed has changed from the allocation reported in “Note 4 – Real Estate and Lease Intangibles” in the Notes to Consolidated Financial Statements included in Part I of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 filed with the SEC on November 7, 2013. The changes to our valuation assumptions were based on more accurate information concerning the subject assets and liabilities. None of these changes had a material impact on our Consolidated Financial Statements. This allocation is subject to further adjustment due primarily to information not readily available at the acquisition date, final purchase price settlement with our partner in accordance with the terms of the purchase agreement, reclassification adjustments for presentation and adjustments to our valuation assumptions. The Company's assessment of the fair values and the allocation of the purchase price to the identified tangible and intangible assets/liabilities is its current best estimate of fair value. | |||||||||||||||||||||
The fair values of investment in real estate were determined using internally developed models that were based on market assumptions and comparable sales data as well as external valuations performed by unrelated third parties. The market assumptions used as inputs to the Company’s fair value model include construction costs, leasing assumptions, growth rates, discount rates, terminal capitalization rates and development yields. The Company uses data on its existing portfolio of properties and its recent acquisition and development properties, as well as similar market data from third party sources, when available, in determining these inputs (Level 2 and 3). The fair value of Noncontrolling Interests was calculated similar to the investment in real estate described above. The fair value of mortgage debt was calculated using indicative rates, leverage and coverage provided by lenders of similar loans (Level 2). The Common Shares issued to an affiliate of Lehman Brothers Holdings, Inc. were valued using the quoted market price of Common Shares (Level 1). | |||||||||||||||||||||
The following table summarizes the acquisition date fair values of the above and below market ground and retail lease intangibles, which we determined using Level 2 and Level 3 inputs (amounts in thousands): | |||||||||||||||||||||
Description | Balance Sheet Location | Fair Value | |||||||||||||||||||
Ground lease intangibles – below market | Other Assets | $ | 178,251 | ||||||||||||||||||
Retail lease intangibles – above market | Other Assets | 1,260 | |||||||||||||||||||
Ground lease intangibles – above market | Other Liabilities | 2,400 | |||||||||||||||||||
Retail lease intangibles – below market | Other Liabilities | 8,040 | |||||||||||||||||||
As of December 31, 2013, the Company has incurred Archstone-related expenses of approximately $94.7 million, of which approximately $13.5 million of this total was financing-related and approximately $81.2 million was merger costs. During the years ended December 31, 2013, 2012 and 2011, the Company expensed $19.9 million, $5.6 million and $1.7 million, respectively, of direct merger costs primarily related to investment banking and legal/accounting fees, which were included in merger expenses in the accompanying consolidated statements of operations and comprehensive income. During the year ended December 31, 2013, the Company also expensed $54.0 million of indirect merger costs related to severance obligations and retention bonuses through our 60% interest in an unconsolidated joint venture with AVB, which were included in (loss) from investments in unconsolidated entities due to merger expenses in the accompanying consolidated statements of operations and comprehensive income. In addition, during the years ended December 31, 2013, 2012 and 2011, the Company expensed $2.5 million, $8.4 million and $2.6 million, respectively, of financing-related costs, which were included in interest expense in the accompanying consolidated statements of operations and comprehensive income. | |||||||||||||||||||||
Unaudited Pro Forma Financial Information | |||||||||||||||||||||
Equity Residential | |||||||||||||||||||||
The following table illustrates the effect on net income, earnings per share – basic and earnings per share – diluted as if the Company had consummated the Archstone Acquisition as of January 1, 2012: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(Amounts in thousands, except per share amounts) | |||||||||||||||||||||
Total revenues | $ | 2,485,438 | $ | 2,317,699 | |||||||||||||||||
Income (loss) from continuing operations (1) | 203,286 | (54,940 | ) | ||||||||||||||||||
Discontinued operations, net | 2,074,072 | 720,361 | |||||||||||||||||||
Net income | 2,277,358 | 665,421 | |||||||||||||||||||
Net income available to Common Shares | 2,183,756 | 622,424 | |||||||||||||||||||
Earnings per share - basic: | |||||||||||||||||||||
Net income available to Common Shares | $ | 6.07 | $ | 1.74 | |||||||||||||||||
Weighted average Common Shares outstanding (2) | 359,688 | 356,984 | |||||||||||||||||||
Earnings per share - diluted (1): | |||||||||||||||||||||
Net income available to Common Shares | $ | 6.05 | $ | 1.74 | |||||||||||||||||
Weighted average Common Shares outstanding (2) | 375,861 | 356,984 | |||||||||||||||||||
-1 | Potential common shares issuable from the assumed conversion of OP Units and the exercise/vesting of long-term compensation shares/units are automatically anti-dilutive and therefore excluded from the diluted earnings per share calculation as the Company had a pro forma loss from continuing operations for the year ended December 31, 2012. | ||||||||||||||||||||
-2 | Includes an adjustment for Common Shares issued to the public in December 2012 and to an affiliate of Lehman Brothers Holdings Inc. in February 2013 as partial consideration for the Archstone Acquisition. | ||||||||||||||||||||
ERP Operating Limited Partnership | |||||||||||||||||||||
The following table illustrates the effect on net income, earnings per Unit – basic and earnings per Unit – diluted as if the Operating Partnership had consummated the Archstone Acquisition as of January 1, 2012: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(Amounts in thousands, except per Unit amounts) | |||||||||||||||||||||
Total revenues | $ | 2,485,438 | $ | 2,317,699 | |||||||||||||||||
Income (loss) from continuing operations (1) | 203,286 | (54,940 | ) | ||||||||||||||||||
Discontinued operations, net | 2,074,072 | 720,361 | |||||||||||||||||||
Net income | 2,277,358 | 665,421 | |||||||||||||||||||
Net income available to Units | 2,273,798 | 651,548 | |||||||||||||||||||
Earnings per Unit - basic: | |||||||||||||||||||||
Net income available to Units | $ | 6.07 | $ | 1.74 | |||||||||||||||||
Weighted average Units outstanding (2) | 373,421 | 370,837 | |||||||||||||||||||
Earnings per Unit - diluted (1): | |||||||||||||||||||||
Net income available to Units | $ | 6.05 | $ | 1.74 | |||||||||||||||||
Weighted average Units outstanding (2) | 375,861 | 370,837 | |||||||||||||||||||
-1 | Potential Units issuable from the assumed exercise/vesting of the Company's long-term compensation shares/units are automatically anti-dilutive and therefore excluded from the diluted earnings per Unit calculation as the Operating Partnership had a pro forma loss from continuing operations for the year ended December 31, 2012. | ||||||||||||||||||||
-2 | Includes an adjustment for Common Shares issued to the public in December 2012 and to an affiliate of Lehman Brothers Holdings Inc. in February 2013 as partial consideration for the Archstone Acquisition. Concurrent with these transactions, ERPOP issued the same number of OP Units to EQR. | ||||||||||||||||||||
For the years ended December 31, 2013 and 2012, acquisition costs of $19.9 million and $5.6 million, respectively, and severance/retention and other costs of $54.1 million and none, respectively, related to the Archstone Acquisition are not expected to have a continuing impact on the Company's financial results and therefore have been excluded from these pro forma results. The pro forma results also do not include the impact of any synergies or lower borrowing costs that the Company has or may achieve as a result of the acquisition or any strategies that management has or may consider in order to more efficiently manage the Company's operations, nor do they give pro forma effect to any other acquisitions, dispositions or capital markets transactions (excluding the equity offering in December 2012 which proceeds were used for the Archstone Acquisition) that the Company completed during the periods presented. These pro forma results are not necessarily indicative of the operating results that would have been obtained had the Archstone Acquisition occurred at the beginning of the periods presented, nor are they necessarily indicative of future operating results. | |||||||||||||||||||||
Other | |||||||||||||||||||||
In addition to the Archstone Acquisition described above, during the year ended December 31, 2013, the Company acquired the entire equity interest in the following from unaffiliated parties (purchase price in thousands): | |||||||||||||||||||||
Properties | Apartment Units | Purchase Price | |||||||||||||||||||
Rental Properties – Consolidated | 1 | 322 | $ | 91,500 | |||||||||||||||||
Land Parcel (one) | — | — | 16,500 | ||||||||||||||||||
Total | 1 | 322 | $ | 108,000 | |||||||||||||||||
During the year ended December 31, 2012, the Company acquired the entire equity interest in the following from unaffiliated parties (purchase price in thousands): | |||||||||||||||||||||
Properties | Apartment Units | Purchase Price | |||||||||||||||||||
Rental Properties – Consolidated | 9 | 1,896 | $ | 906,305 | |||||||||||||||||
Land Parcel (six) | — | — | 141,240 | ||||||||||||||||||
Total | 9 | 1,896 | $ | 1,047,545 | |||||||||||||||||
During the year ended December 31, 2013, the Company disposed of the following to unaffiliated parties (sales price in thousands): | |||||||||||||||||||||
Properties | Apartment Units | Sales Price | |||||||||||||||||||
Consolidated: | |||||||||||||||||||||
Rental Properties | 94 | 29,180 | $ | 4,459,339 | |||||||||||||||||
Land Parcels (seven) | — | — | 99,650 | ||||||||||||||||||
Other (1) | — | — | 30,734 | ||||||||||||||||||
Unconsolidated: | |||||||||||||||||||||
Land Parcel (one) (2) | — | — | 26,350 | ||||||||||||||||||
Total | 94 | 29,180 | $ | 4,616,073 | |||||||||||||||||
(1) Represents a 97,000 square foot commercial building adjacent to our Harbor Steps apartment property in downtown Seattle that was acquired in 2011. | |||||||||||||||||||||
(2) Sales price listed is the gross sales price. EQR's share of the net sales proceeds approximated 25%. | |||||||||||||||||||||
The Company recognized a net gain on sales of discontinued operations of approximately $2.0 billion and a net gain on sales of land parcels of approximately $12.2 million on the above sales. | |||||||||||||||||||||
During the year ended December 31, 2012, the Company disposed of the following to unaffiliated parties (sales price in thousands): | |||||||||||||||||||||
Properties | Apartment Units | Sales Price | |||||||||||||||||||
Rental Properties – Consolidated | 35 | 9,012 | $ | 1,061,334 | |||||||||||||||||
Total | 35 | 9,012 | $ | 1,061,334 | |||||||||||||||||
The Company recognized a net gain on sales of discontinued operations of approximately $548.3 million on the above sales. |
Commitments_to_AcquireDispose_
Commitments to Acquire/Dispose of Real Estate | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Commitments to Acquire Dispose of Real Estate [Abstract] | ' | |||||||||
Commitments To Acquire Dispose Of Real Estate Text Block | ' | |||||||||
5 | Commitments to Acquire/Dispose of Real Estate | |||||||||
In addition to the property that was subsequently acquired as discussed in Note 18, the Company has entered into a separate agreement to acquire the following (purchase price in thousands): | ||||||||||
Properties | Apartment Units | Purchase Price | ||||||||
Land Parcel (one) | — | — | $ | 10,290 | ||||||
Total | — | — | $ | 10,290 | ||||||
The Company has entered into a separate agreement to dispose of the following (sales price in thousands): | ||||||||||
Properties | Apartment Units | Purchase Price | ||||||||
Land Parcel (one) | — | — | $ | 40,300 | ||||||
Total | — | — | $ | 40,300 | ||||||
The closings of these pending transactions are subject to certain conditions and restrictions, therefore, there can be no assurance that these transactions will be consummated or that the final terms will not differ in material respects from those summarized in the preceding paragraphs. |
Investments_in_Partially_Owned
Investments in Partially Owned Entities | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Investments in Partially Owned Entities [Abstract] | ' | |||||||||||||||||||||||||||
Investments in Partially Owned Entities | ' | |||||||||||||||||||||||||||
6 | Investments in Partially Owned Entities | |||||||||||||||||||||||||||
The Company has co-invested in various properties with unrelated third parties which are either consolidated or accounted for under the equity method of accounting (unconsolidated). The following tables and information summarize the Company’s investments in partially owned entities as of December 31, 2013 (amounts in thousands except for project and apartment unit amounts): | ||||||||||||||||||||||||||||
Consolidated | Unconsolidated | |||||||||||||||||||||||||||
Development Projects | Development Projects | |||||||||||||||||||||||||||
Held for | Operating | Total | Held for | Completed, Not Stabilized (3) | Operating | Total | ||||||||||||||||||||||
and/or Under | and/or Under | |||||||||||||||||||||||||||
Development | Development | |||||||||||||||||||||||||||
Total projects (1) | — | 19 | 19 | — | 3 | 1 | 4 | |||||||||||||||||||||
Total apartment units (1) | — | 3,752 | 3,752 | — | 1,333 | 336 | 1,669 | |||||||||||||||||||||
Balance sheet information at 12/31/13 (at 100%): | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Investment in real estate | $ | 342,222 | $ | 673,957 | $ | 1,016,179 | $ | 45,123 | $ | 284,264 | $ | 55,545 | $ | 384,932 | ||||||||||||||
Accumulated depreciation | — | (172,802 | ) | (172,802 | ) | — | (1,887 | ) | (4,605 | ) | (6,492 | ) | ||||||||||||||||
Investment in real estate, net | 342,222 | 501,155 | 843,377 | 45,123 | 282,377 | 50,940 | 378,440 | |||||||||||||||||||||
Cash and cash equivalents | 4,704 | 22,792 | 27,496 | 262 | 1,505 | 1,377 | 3,144 | |||||||||||||||||||||
Investments in unconsolidated entities | — | 54,439 | 54,439 | — | — | — | — | |||||||||||||||||||||
Deposits – restricted | 43,654 | 220 | 43,874 | — | 95 | 47 | 142 | |||||||||||||||||||||
Deferred financing costs, net | — | 2,496 | 2,496 | 77 | 129 | 4 | 210 | |||||||||||||||||||||
Other assets | 5,841 | 26,899 | 32,740 | — | 355 | 871 | 1,226 | |||||||||||||||||||||
Total assets | $ | 396,421 | $ | 608,001 | $ | 1,004,422 | $ | 45,462 | $ | 284,461 | $ | 53,239 | $ | 383,162 | ||||||||||||||
LIABILITIES AND EQUITY/CAPITAL | ||||||||||||||||||||||||||||
Mortgage notes payable (2) | $ | — | $ | 360,130 | $ | 360,130 | $ | 11,379 | $ | 172,279 | $ | 30,550 | $ | 214,208 | ||||||||||||||
Accounts payable & accrued expenses | 21,569 | 1,113 | 22,682 | 4,433 | 3,844 | 164 | 8,441 | |||||||||||||||||||||
Accrued interest payable | — | 1,283 | 1,283 | 23 | 693 | — | 716 | |||||||||||||||||||||
Other liabilities | 1,157 | 1,487 | 2,644 | 339 | 572 | 768 | 1,679 | |||||||||||||||||||||
Security deposits | 10 | 1,828 | 1,838 | — | 222 | 105 | 327 | |||||||||||||||||||||
Total liabilities | 22,736 | 365,841 | 388,577 | 16,174 | 177,610 | 31,587 | 225,371 | |||||||||||||||||||||
Noncontrolling Interests – Partially Owned | 114,245 | 12,338 | 126,583 | 27,858 | 73,902 | 20,450 | 122,210 | |||||||||||||||||||||
Properties/Partners' equity | ||||||||||||||||||||||||||||
Company equity/General and Limited | 259,440 | 229,822 | 489,262 | 1,430 | 32,949 | 1,202 | 35,581 | |||||||||||||||||||||
Partners' Capital | ||||||||||||||||||||||||||||
Total equity/capital | 373,685 | 242,160 | 615,845 | 29,288 | 106,851 | 21,652 | 157,791 | |||||||||||||||||||||
Total liabilities and equity/capital | $ | 396,421 | $ | 608,001 | $ | 1,004,422 | $ | 45,462 | $ | 284,461 | $ | 53,239 | $ | 383,162 | ||||||||||||||
Consolidated | Unconsolidated | |||||||||||||||||||||||||||
Development Projects | Development Projects | |||||||||||||||||||||||||||
Held for | Held for | Operating | ||||||||||||||||||||||||||
and/or Under | and/or Under | Completed, Not Stabilized (3) | ||||||||||||||||||||||||||
Development | Operating | Total | Development | Total | ||||||||||||||||||||||||
Operating information for the year ended 12/31/13 (at 100%): | ||||||||||||||||||||||||||||
Operating revenue | $ | 231 | $ | 80,968 | $ | 81,199 | $ | — | $ | 6,629 | $ | 4,597 | $ | 11,226 | ||||||||||||||
Operating expenses | 741 | 24,888 | 25,629 | 135 | 3,554 | 1,949 | 5,638 | |||||||||||||||||||||
Net operating (loss) income | (510 | ) | 56,080 | 55,570 | (135 | ) | 3,075 | 2,648 | 5,588 | |||||||||||||||||||
Depreciation | — | 31,824 | 31,824 | — | 1,887 | 4,605 | 6,492 | |||||||||||||||||||||
General and administrative/other | 882 | 93 | 975 | — | 53 | 201 | 254 | |||||||||||||||||||||
Operating (loss) income | (1,392 | ) | 24,163 | 22,771 | (135 | ) | 1,135 | (2,158 | ) | (1,158 | ) | |||||||||||||||||
Interest and other income | 2 | 3 | 5 | — | — | 10 | 10 | |||||||||||||||||||||
Other expenses | (503 | ) | (5 | ) | (508 | ) | — | — | — | — | ||||||||||||||||||
Interest: | ||||||||||||||||||||||||||||
Expense incurred, net | (2 | ) | (14,561 | ) | (14,563 | ) | — | (1,886 | ) | (941 | ) | (2,827 | ) | |||||||||||||||
Amortization of deferred financing costs | — | (301 | ) | (301 | ) | — | — | (1 | ) | (1 | ) | |||||||||||||||||
(Loss) income before income and other taxes, (loss) | (1,895 | ) | 9,299 | 7,404 | (135 | ) | (751 | ) | (3,090 | ) | (3,976 | ) | ||||||||||||||||
from investments in unconsolidated entities, net | ||||||||||||||||||||||||||||
(loss) gain on sales of land parcels and | ||||||||||||||||||||||||||||
discontinued operations | ||||||||||||||||||||||||||||
Income and other tax (expense) benefit | (11 | ) | (56 | ) | (67 | ) | — | — | — | — | ||||||||||||||||||
(Loss) from investments in unconsolidated entities | — | (1,387 | ) | (1,387 | ) | — | — | — | — | |||||||||||||||||||
Net (loss) on sales of land parcels | (17 | ) | — | (17 | ) | — | — | — | — | |||||||||||||||||||
Net gain on sales of discontinued operations | — | 26,673 | 26,673 | — | — | — | — | |||||||||||||||||||||
Net (loss) income | $ | (1,923 | ) | $ | 34,529 | $ | 32,606 | $ | (135 | ) | $ | (751 | ) | $ | (3,090 | ) | $ | (3,976 | ) | |||||||||
-1 | Project and apartment unit counts exclude all uncompleted development projects until those projects are substantially completed. | |||||||||||||||||||||||||||
-2 | All debt is non-recourse to the Company with the exception of 50% of the current $11.4 million outstanding debt balance on one unconsolidated development project. | |||||||||||||||||||||||||||
-3 | Projects included here are substantially complete. However, they may still require additional exterior and interior work for all units to be available for leasing. | |||||||||||||||||||||||||||
Note: | The above tables exclude the Company's interests in unconsolidated joint ventures entered into with AVB in connection with the Archstone Transaction. These ventures own certain non-core Archstone assets that are held for sale and succeeded to certain residual Archstone liabilities, such as liability for various employment-related matters as well as responsibility for tax protection arrangements and third-party preferred interests in former Archstone subsidiaries. The preferred interests have an aggregate liquidation value of $89.0 million at December 31, 2013. The ventures are owned 60% by the Company and 40% by AVB. | |||||||||||||||||||||||||||
During the year ended December 31, 2012, the Company and its joint venture partner sold two consolidated partially owned properties consisting of 441 apartment units and recognized a net gain on the sales of approximately $21.3 million. | ||||||||||||||||||||||||||||
The Company is the controlling partner in various consolidated partnership properties and development properties having a noncontrolling interest book value of $126.6 million at December 31, 2013. The Company has identified one development partnership, consisting of a land parcel with a book value of $5.0 million, as a VIE. The Company does not have any unconsolidated VIEs. | ||||||||||||||||||||||||||||
Archstone Acquisition | ||||||||||||||||||||||||||||
On February 27, 2013, in conjunction with the Archstone Acquisition, the Company acquired interests in several joint ventures. Details of these interests follow by project: | ||||||||||||||||||||||||||||
Park Aire (formerly known as Enclave at Wellington) – This venture is currently developing certain land parcels into a 268 unit apartment building located in Wellington, Florida. The Company has a 95% equity interest with an initial basis of $26.2 million. Total project costs are expected to be approximately $50.0 million. The Company is the managing member, is responsible for constructing the project and its partner does not have substantive kick-out or participating rights. As a result, the entity is required to be consolidated on the Company's balance sheet. | ||||||||||||||||||||||||||||
East Palmetto Park – This venture was formed to ultimately develop certain land parcels into a 377 unit apartment building located in Boca Raton, Florida. The Company has a 90% equity interest with an initial basis of $20.2 million. The Company is the managing member, is responsible for constructing the project and its partner does not have substantive kick-out or participating rights. As a result, the entity is required to be consolidated on the Company's balance sheet. | ||||||||||||||||||||||||||||
Wisconsin Place – This project contains a mixed-use site located in Chevy Chase, Maryland consisting of residential, retail, office and accessory uses, including underground parking facilities. The Company has a 75% equity interest with an initial basis of $198.5 million in the 432 unit residential component. The Company is the managing member, was responsible for constructing the residential project and its partner does not have substantive kick-out or participating rights. As a result, the entity that owns the residential component of this mixed-use site is required to be consolidated on the Company's balance sheet. Such entity also retains an unconsolidated interest in an entity that owns the land underlying the entire project and owns and operates the parking facility. The initial fair value of this investment is $56.5 million. The Company does not have any ownership interest in the retail and office components. | ||||||||||||||||||||||||||||
San Norterra – This venture developed certain land parcels into a 388 unit apartment building located in Phoenix, Arizona. The Company has an 85% equity interest with an initial basis of $16.9 million. Total project costs are approximately $56.3 million and construction was partially funded with a construction loan that is guaranteed by the partner and non-recourse to the Company. The loan has a maximum debt commitment of $34.8 million and a current unconsolidated outstanding balance of $33.0 million; the loan bears interest at LIBOR plus 2.00% and matures January 6, 2015. The partner is the managing member and developed the project. The Company does not have substantive kick-out or participating rights. As a result, the entity is unconsolidated and recorded using the equity method of accounting. | ||||||||||||||||||||||||||||
Waterton Tenside – This venture was formed to develop and operate a 336 unit apartment property located in Atlanta, Georgia. The Company has a 20% equity interest with an initial basis of $5.1 million. The partner is the managing member and developed the project. The project is encumbered by a non-recourse mortgage loan that has a current outstanding balance of $30.6 million, bears interest at 3.66% and matures December 1, 2018. The Company does not have substantive kick-out or participating rights. As a result, the entity is unconsolidated and recorded using the equity method of accounting. | ||||||||||||||||||||||||||||
Parkside at Emeryville – This venture is currently developing certain land parcels into a 176 unit apartment building located in Emeryville, California. The Company has a 5% equity interest with an initial obligation of approximately $2.1 million. Total project costs are expected to be approximately $75.0 million and construction is being partially funded with a construction loan. The loan has a maximum debt commitment of $39.5 million and a current unconsolidated outstanding balance of $11.4 million; the loan bears interest at LIBOR plus 2.25% and matures August 14, 2015. The Company has given a repayment guaranty on the construction loan of 50% of the outstanding balance, up to a maximum of $19.7 million, and has given certain construction cost overrun guarantees. The partner is the managing member and is developing the project. The Company does not have substantive kick-out or participating rights. As a result, the entity is unconsolidated and recorded using the equity method of accounting. | ||||||||||||||||||||||||||||
On February 27, 2013, in connection with the Archstone Acquisition, subsidiaries of the Company and AVB entered into three limited liability company agreements (collectively, the “Residual JV”). The Residual JV owns certain non-core Archstone assets that are held for sale, such as interests in a German portfolio of apartment buildings, and succeeded to certain residual Archstone liabilities, such as liability for various employment-related matters. The Residual JV is owned 60% by the Company and 40% by AVB and the Company's initial investment was $113.6 million. The Residual JV is managed by a Management Committee consisting of two members from each of the Company and AVB. Both partners have equal participation in the Management Committee and all significant participating rights are shared by both partners. As a result, the Residual JV is unconsolidated and recorded using the equity method of accounting. | ||||||||||||||||||||||||||||
On February 27, 2013, in connection with the Archstone Acquisition, a subsidiary of the Company and AVB entered into a limited liability company agreement (the “Legacy JV”), through which they assumed obligations of Archstone in the form of preferred interests, some of which are governed by tax protection arrangements. During the year ended December 31, 2013, the Company purchased with AVB $65.0 million (of which the Company's 60% share was $39.0 million) of the preferred interests assumed by Legacy JV. At December 31, 2013, the remaining preferred interests have an aggregate liquidation value of $89.0 million, our share of which is included in other liabilities in the accompanying consolidated balance sheets. Obligations of the Legacy JV are borne 60% by the Company and 40% by AVB. The Legacy JV is managed by a Management Committee consisting of two members from each of the Company and AVB. Both partners have equal participation in the Management Committee and all significant participating rights are shared by both partners. As a result, the Legacy JV is unconsolidated and recorded using the equity method of accounting. | ||||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||||
In December 2011, the Company and Toll Brothers (NYSE: TOL) jointly acquired a vacant land parcel at 400 Park Avenue South in New York City. The Company's and Toll Brothers' allocated portions of the purchase price were approximately $76.1 million and $57.9 million, respectively. The Company is the managing member and Toll Brothers does not have substantive kick-out or participating rights. Until the core and shell of the building is complete, the building and land will be owned jointly and are required to be consolidated on the Company's balance sheet. Thereafter, the Company will solely own and control the rental portion of the building (floors 2-22) and Toll Brothers will solely own and control the for sale portion of the building (floors 23-40). Once the core and shell are complete, the Toll Brothers' portion of the property will be deconsolidated from the Company's balance sheet. The acquisition was financed through contributions by the Company and Toll Brothers of approximately $102.5 million and $75.7 million, respectively, which included the land purchase noted above, restricted deposits and taxes and fees. As of December 31, 2013, the Company's and Toll Brothers' consolidated contributions to the joint venture were approximately $292.6 million, of which Toll Brothers' noncontrolling interest balance totaled $111.7 million. | ||||||||||||||||||||||||||||
The Company admitted an 80% institutional partner to two separate entities/transactions (Nexus Sawgrass in December 2010 and Domain in August 2011), each owning a developable land parcel, in exchange for $40.1 million in cash and retained a 20% equity interest in both of these entities. These projects are now unconsolidated. Details of these projects follow: | ||||||||||||||||||||||||||||
• | Nexus Sawgrass – This development project was substantially completed as of September 30, 2013. Total project costs are expected to be approximately $80.0 million and construction was predominantly funded with a long-term, non-recourse secured loan from the partner. The mortgage loan has a maximum debt commitment of $48.7 million and a current unconsolidated outstanding balance of $47.6 million; the loan bears interest at 5.60% and matures January 1, 2021. | |||||||||||||||||||||||||||
• | Domain – This development project was substantially completed as of December 31, 2013. Total project costs are expected to be approximately $154.6 million and construction was predominantly funded with a long-term, non-recourse secured loan from the partner. The mortgage loan has a maximum debt commitment of $98.6 million and a current unconsolidated outstanding balance of $91.6 million; the loan bears interest at 5.75% and matures January 1, 2022. | |||||||||||||||||||||||||||
While the Company is the managing member of both of the joint ventures, was responsible for constructing both of the projects and has given certain construction cost overrun guarantees, the joint venture partner has significant participating rights and has active involvement in and oversight of the ongoing projects. The Company currently has no further funding obligations related to these projects. |
Deposits_Restricted
Deposits - Restricted | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deposits - Restricted [Abstract] | ' | ||||||||
Restricted Cash And Cash Equivalents Disclosure [Text Block] | ' | ||||||||
7 | Deposits – Restricted | ||||||||
The following table presents the Company’s restricted deposits as of December 31, 2013 and 2012 (amounts in thousands): | |||||||||
December 31, 2013 | December 31, 2012 | ||||||||
Tax – deferred (1031) exchange proceeds | $ | — | $ | 152,182 | |||||
Earnest money on pending acquisitions | 4,514 | 5,613 | |||||||
Restricted deposits on real estate investments | 53,771 | 44,209 | |||||||
Resident security and utility deposits | 44,777 | 44,199 | |||||||
Other | 505 | 4,239 | |||||||
Totals | $ | 103,567 | $ | 250,442 | |||||
Debt
Debt | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||
Debt Disclosure [Text Block] | ' | ||||||||||
8 | Debt | ||||||||||
EQR does not have any indebtedness as all debt is incurred by the Operating Partnership. EQR guarantees the Operating Partnership’s $750.0 million senior unsecured delayed draw term loan facility and also guarantees the Operating Partnership’s revolving credit facility up to the maximum amount and for the full term of the facility. | |||||||||||
Mortgage Notes Payable | |||||||||||
As of December 31, 2013, the Company had outstanding mortgage debt of approximately $5.2 billion. | |||||||||||
During the year ended December 31, 2013, the Company: | |||||||||||
▪ | Assumed as part of the Archstone Transaction $2.2 billion of mortgage debt held in two Fannie Mae loan pools, consisting of $1.2 billion collateralized by 16 properties with an interest rate of 6.256% and a maturity date of November 1, 2017 ("Pool 3") and $963.5 million collateralized by 15 properties with an interest rate of 5.883% and a maturity date of November 1, 2014 ("Pool 4"); | ||||||||||
▪ | Repaid $2.5 billion of mortgage loans, which includes the partial paydown of $825.0 million of Pool 3 mortgage debt and the payoff of $963.5 million of Pool 4 mortgage debt; | ||||||||||
▪ | Assumed as part of the Archstone Transaction $346.6 million of tax-exempt bonds on four properties with interest rates ranging from SIFMA plus 0.860% to SIFMA plus 1.402% and maturity dates through November 15, 2036; | ||||||||||
▪ | Assumed as part of the Archstone Transaction $339.0 million of other mortgage debt on three properties with fixed interest rates ranging from 0.100% to 5.240% and maturity dates through May 1, 2061; | ||||||||||
▪ | Assumed as part of the Archstone Transaction $34.1 million of other mortgage debt on one property with a variable rate of LIBOR plus 1.75% and a maturity date of September 1, 2014; | ||||||||||
▪ | Recorded $127.9 million of net mark-to-market premiums on the mortgage debt described in the bullets above; and | ||||||||||
▪ | Obtained $902.9 million of new mortgage loan proceeds, inclusive of an $800.0 million secured loan from a large insurance company which matures on November 10, 2023, is interest only and carries a fixed interest rate of 4.21%. | ||||||||||
The Company recorded approximately $222.4 million and $7.4 million of prepayment penalties and write-offs of unamortized deferred financing costs, respectively, during the year ended December 31, 2013 as additional interest expense related to debt extinguishment of mortgages. The Company also recorded $110.5 million of write-offs of net unamortized premiums during the year ended December 31, 2013 as a reduction of interest expense related to debt extinguishment of mortgages. | |||||||||||
As of December 31, 2013, the Company had $700.5 million of secured debt subject to third party credit enhancement. | |||||||||||
As of December 31, 2013, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through May 1, 2061. At December 31, 2013, the interest rate range on the Company’s mortgage debt was 0.03% to 7.25%. During the year ended December 31, 2013, the weighted average interest rate on the Company’s mortgage debt was 4.23% (excludes $113.6 million of write-offs of unamortized premiums related to debt extinguishment of mortgages). | |||||||||||
The historical cost, net of accumulated depreciation, of encumbered properties was $7.3 billion and $4.4 billion at December 31, 2013 and 2012, respectively. | |||||||||||
As of December 31, 2012, the Company had outstanding mortgage debt of approximately $3.9 billion. | |||||||||||
During the year ended December 31, 2012, the Company: | |||||||||||
▪ | Repaid $364.3 million of mortgage loans; | ||||||||||
▪ | Obtained $26.5 million of new mortgage loan proceeds; and | ||||||||||
▪ | Assumed $137.6 million of mortgage debt on two acquired properties. | ||||||||||
The Company recorded approximately $0.3 million and $1.6 million of prepayment penalties and write-offs of unamortized deferred financing costs, respectively, during the year ended December 31, 2012 as additional interest expense related to debt extinguishment of mortgages. | |||||||||||
As of December 31, 2012, the Company had $362.2 million of secured debt subject to third party credit enhancement. | |||||||||||
As of December 31, 2012, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through June 15, 2051. At December 31, 2012, the interest rate range on the Company’s mortgage debt was 0.11% to 11.25%. During the year ended December 31, 2012, the weighted average interest rate on the Company’s mortgage debt was 4.96%. | |||||||||||
Notes | |||||||||||
The following tables summarize the Company’s unsecured note balances and certain interest rate and maturity date information as of and for the years ended December 31, 2013 and 2012, respectively: | |||||||||||
31-Dec-13 | Net Principal Balance | Interest Rate Ranges | Weighted Average Interest Rate | Maturity Date Ranges | |||||||
(Amounts are in thousands) | |||||||||||
Fixed Rate Public/Private Notes (1) | $ | 4,727,088 | 3.00% - 7.57% | 5.55% | 2014 - 2026 | ||||||
Floating Rate Public/Private Notes (1) | 750,000 | (1) (2) | 1.58% | 2015 | |||||||
Totals | $ | 5,477,088 | |||||||||
31-Dec-12 | Net Principal Balance | Interest Rate Ranges | Weighted Average Interest Rate | Maturity Date Ranges | |||||||
(Amounts are in thousands) | |||||||||||
Fixed Rate Public/Private Notes (1) | $ | 4,329,352 | 4.625% - 7.57% | 5.70% | 2013 - 2026 | ||||||
Floating Rate Public/Private Notes (1) | 301,523 | -1 | 1.83% | 2013 | |||||||
Totals | $ | 4,630,875 | |||||||||
-1 | At December 31, 2012, $300.0 million in fair value interest rate swaps converts a portion of the $400.0 million face value 5.200% notes due April 1, 2013 to a floating interest rate. On April 1, 2013, the Company paid off the $400.0 million outstanding of its 5.200% public notes at maturity and the related fair value interest rate swaps matured. | ||||||||||
-2 | Includes the Company's senior unsecured $750.0 million delayed draw term loan facility that matures on January 11, 2015 and is subject to a one-year extension option exercisable by the Company. The interest rate on advances under the term loan facility will generally be LIBOR plus a spread (currently 1.20%), which is dependent on the credit rating of the Company's long-term debt. | ||||||||||
The Company’s unsecured public debt contains certain financial and operating covenants including, among other things, maintenance of certain financial ratios. The Company was in compliance with its unsecured public debt covenants for both the years ended December 31, 2013 and 2012. | |||||||||||
An unspecified amount of equity and debt securities remains available for issuance by EQR and ERPOP under a universal shelf registration statement that automatically became effective upon filing with the SEC on July 30, 2013 and expires on July 30, 2016. Per the terms of ERPOP's partnership agreement, EQR contributes the net proceeds of all equity offerings to the capital of ERPOP in exchange for additional OP Units (on a one-for-one Common Share per OP Unit basis) or preference units (on a one-for-one preferred share per preference unit basis). | |||||||||||
During the year ended December 31, 2013, the Company: | |||||||||||
▪ | Repaid $400.0 million of 5.200% unsecured notes at maturity; | ||||||||||
▪ | Issued $500.0 million of ten-year 3.00% fixed rate public notes, receiving net proceeds of $495.6 million before underwriting fees, hedge termination costs and other expenses, at an all-in effective interest rate of 3.998%; and | ||||||||||
▪ | Entered into a senior unsecured $750.0 million delayed draw term loan facility which was fully drawn on February 27, 2013 in connection with the Archstone Acquisition. The maturity date of January 11, 2015 is subject to a one-year extension option exercisable by the Company. The interest rate on advances under the term loan facility will generally be LIBOR plus a spread (currently 1.20%), which is dependent on the credit rating of the Company's long-term debt. | ||||||||||
During the year ended December 31, 2012, the Company: | |||||||||||
▪ | Repaid $253.9 million of 6.625% unsecured notes at maturity; | ||||||||||
▪ | Repaid $222.1 million of 5.500% unsecured notes at maturity; | ||||||||||
▪ | Repaid its $500.0 million term loan facility at maturity; and | ||||||||||
▪ | Entered into a new senior unsecured $500.0 million delayed draw term loan facility that could have been drawn anytime on or before July 4, 2012. The Company elected not to draw on this facility and subject to the terms of the agreement, the facility expired undrawn. The Company recorded approximately $1.0 million of write-offs of unamortized deferred financing costs at termination. | ||||||||||
In November 2012, the Company obtained a commitment for a senior unsecured bridge loan facility in an aggregate principal amount not to exceed $2.5 billion to finance the acquisition of Archstone and to pay fees and expenses relating to this transaction. The Company incurred fees totaling $10.9 million to structure this facility, of which $8.4 million was written off in 2012 in conjunction with additional capital raising activities which curtailed amounts available on this facility. On January 11, 2013, the Company terminated this $2.5 billion bridge loan facility in connection with the execution of the term loan facility discussed above and the new revolving credit facility discussed below. The Company wrote off approximately $2.5 million of unamortized deferred financing costs during the year ended December 31, 2013 as additional interest expense. | |||||||||||
In December 2011, the Company obtained a commitment for a senior unsecured bridge loan facility in an aggregate principal amount not to exceed $1.0 billion to finance the potential acquisition of an ownership interest in Archstone. The Company paid fees of $2.6 million to structure this facility, which were recorded as deferred financing costs and amortized in 2011. On January 6, 2012, the Company terminated this $1.0 billion bridge loan facility in connection with an amendment to the Company's revolving credit facility (see below for further discussion) and the execution of the $500.0 million delayed draw term loan facility discussed above. | |||||||||||
On October 11, 2007, the Company closed on a $500.0 million senior unsecured term loan. Effective April 5, 2011, the Company exercised the second of its two one-year extension options, resulting in a maturity date of October 5, 2012. The Company paid off this term loan at maturity. The loan bore interest at variable rates based upon LIBOR plus a spread (0.50%) dependent upon the credit rating on the Company’s long-term senior unsecured debt. | |||||||||||
On August 23, 2006, the Company issued $650.0 million of exchangeable notes that were to mature on August 15, 2026. The notes bore interest at a fixed rate of 3.85%. The notes were exchangeable into Common Shares, at the option of the holders, under specific circumstances or on or after August 15, 2025, at an exchange rate of 16.3934 shares per $1,000 principal amount of notes (equivalent to an exchange price of $61.00 per share). On August 18, 2011 (the "Redemption Date"), the Operating Partnership redeemed all of the outstanding notes for $482.5 million in cash, which was equal to 100% of the principal amount of such notes, plus accrued and unpaid interest up to but excluding the Redemption Date. See Note 2 for more information on the change in the recognition of interest expense for these notes. | |||||||||||
Lines of Credit | |||||||||||
On January 11, 2013, the Company replaced its existing $1.75 billion facility with a $2.5 billion unsecured revolving credit facility maturing April 1, 2018. The Company has the ability to increase available borrowings by an additional $500.0 million by adding additional banks to the facility or obtaining the agreement of existing banks to increase their commitments. The interest rate on advances under the new credit facility will generally be LIBOR plus a spread (currently 1.05%) and the Company pays an annual facility fee (currently 15 basis points). Both the spread and the facility fee are dependent on the credit rating of the Company's long-term debt. | |||||||||||
In July 2011, the Company replaced its then existing unsecured revolving credit facility with a new $1.25 billion unsecured revolving credit facility maturing on July 13, 2014, subject to a one-year extension option exercisable by the Company. The Company had the ability to increase available borrowings by an additional $500.0 million by adding additional banks to the facility or obtaining the agreement of existing banks to increase their commitments. On January 6, 2012, the Company amended this credit facility to increase available borrowings by an additional $500.0 million to $1.75 billion with all other terms, including the July 13, 2014 maturity date, remaining the same. The interest rate on advances under the credit facility was generally LIBOR plus a spread (1.15%) and the Company paid an annual facility fee of 0.2%. Both the spread and the facility fee were dependent on the credit rating of the Company's long-term debt. The facility had replaced the Company's previous $1.425 billion facility which was scheduled to mature in February 2012. The Company wrote-off $0.2 million in unamortized deferred financing costs related to the old facility. | |||||||||||
As of December 31, 2013, the amount available on the credit facility was $2.35 billion (net of $34.9 million which was restricted/dedicated to support letters of credit and net of $115.0 million outstanding). During the year ended December 31, 2013, the weighted average interest rate was 1.26%. As of December 31, 2012, the amount available on the credit facility was $1.72 billion (net of $30.2 million which was restricted/dedicated to support letters of credit) and there was no amount outstanding. During the year ended December 31, 2012, the weighted average interest rate was 1.35%. | |||||||||||
Other | |||||||||||
The following table provides a summary of the aggregate payments of principal on all debt for each of the next five years and thereafter (amounts in thousands): | |||||||||||
Year | Total (1) | ||||||||||
2014 | $ | 561,084 | |||||||||
2015 | 1,170,448 | ||||||||||
2016 | 1,193,251 | ||||||||||
2017 | 1,347,191 | ||||||||||
2018 | — | 297,016 | |||||||||
Thereafter | 6,209,697 | ||||||||||
Net Unamortized (Discount) | (12,433 | ) | |||||||||
Total | $ | 10,766,254 | |||||||||
-1 | Premiums and discounts are amortized over the life of the debt. |
Derivative_and_Other_Fair_Valu
Derivative and Other Fair Value Instruments | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||
Derivatives and Fair Value [Text Block] | ' | ||||||||||||||||||||||
9 | Derivative and Other Fair Value Instruments | ||||||||||||||||||||||
The valuation of financial instruments requires the Company to make estimates and judgments that affect the fair value of the instruments. The Company, where possible, bases the fair values of its financial instruments, including its derivative instruments, on listed market prices and third party quotes. Where these are not available, the Company bases its estimates on current instruments with similar terms and maturities or on other factors relevant to the financial instruments. | |||||||||||||||||||||||
The carrying values of the Company’s mortgage notes payable and unsecured debt (including its line of credit) were approximately $5.2 billion and $5.6 billion, respectively, at December 31, 2013. The fair values of the Company’s mortgage notes payable and unsecured debt (including its line of credit) were approximately $5.1 billion (Level 2) and $5.9 billion (Level 2), respectively, at December 31, 2013. The carrying values of the Company’s mortgage notes payable and unsecured notes were approximately $3.9 billion and $4.6 billion, respectively, at December 31, 2012. The fair values of the Company’s mortgage notes payable and unsecured notes were approximately $4.3 billion (Level 2) and $5.2 billion (Level 2), respectively, at December 31, 2012. The fair values of the Company’s financial instruments (other than mortgage notes payable, unsecured notes, lines of credit, derivative instruments and investment securities), including cash and cash equivalents and other financial instruments, approximate their carrying or contract values. | |||||||||||||||||||||||
In the normal course of business, the Company is exposed to the effect of interest rate changes. The Company seeks to manage these risks by following established risk management policies and procedures including the use of derivatives to hedge interest rate risk on debt instruments. The Company may also use derivatives to manage its exposure to foreign exchange rates or manage commodity prices in the daily operations of the business. | |||||||||||||||||||||||
The following table summarizes the Company’s consolidated derivative instruments at December 31, 2013 (dollar amounts are in thousands): | |||||||||||||||||||||||
Forward | |||||||||||||||||||||||
Starting | |||||||||||||||||||||||
Swaps (1) | |||||||||||||||||||||||
Current Notional Balance | $ | 400,000 | |||||||||||||||||||||
Lowest Possible Notional | $ | 400,000 | |||||||||||||||||||||
Highest Possible Notional | $ | 400,000 | |||||||||||||||||||||
Lowest Interest Rate | 2.125 | % | |||||||||||||||||||||
Highest Interest Rate | 3.23 | % | |||||||||||||||||||||
Earliest Maturity Date | 2024 | ||||||||||||||||||||||
Latest Maturity Date | 2024 | ||||||||||||||||||||||
-1 | Forward Starting Swaps – Designed to partially fix the interest rate in advance of a planned future debt issuance. These swaps have mandatory counterparty terminations in 2015, and are targeted to 2014 issuances. | ||||||||||||||||||||||
In April 2013, the Company's remaining fair value hedges matured. | |||||||||||||||||||||||
In June 2011, the Company's remaining development cash flow hedge matured. | |||||||||||||||||||||||
A three-level valuation hierarchy exists for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: | |||||||||||||||||||||||
• | Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | ||||||||||||||||||||||
• | Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. | ||||||||||||||||||||||
• | Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement. | ||||||||||||||||||||||
The Company’s derivative positions are valued using models developed by the respective counterparty as well as models developed internally by the Company that use as their basis readily observable market parameters (such as forward yield curves and credit default swap data). Employee holdings other than Common Shares within the supplemental executive retirement plan (the “SERP”) are valued using quoted market prices for identical assets and are included in other assets and other liabilities on the consolidated balance sheet. The Company’s investment securities are valued using quoted market prices or readily available market interest rate data. Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners are valued using the quoted market price of Common Shares. The fair values disclosed for mortgage notes payable and unsecured debt (including its line of credit) were calculated using indicative rates provided by lenders of similar loans in the case of mortgage notes payable and the private unsecured debt (including its line of credit) and quoted market prices for each underlying issuance in the case of the public unsecured notes. | |||||||||||||||||||||||
The following tables provide a summary of the fair value measurements for each major category of assets and liabilities measured at fair value on a recurring basis and the location within the accompanying consolidated balance sheets at December 31, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||
Balance Sheet | Identical Assets/Liabilities | Observable Inputs | Unobservable Inputs | ||||||||||||||||||||
Description | Location | 12/31/13 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets | |||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Forward Starting Swaps | Other Assets | $ | 18,712 | $ | — | $ | 18,712 | $ | — | ||||||||||||||
Supplemental Executive Retirement Plan | Other Assets | 83,845 | 83,845 | — | — | ||||||||||||||||||
Total | $ | 102,557 | $ | 83,845 | $ | 18,712 | $ | — | |||||||||||||||
Liabilities | |||||||||||||||||||||||
Supplemental Executive Retirement Plan | Other Liabilities | $ | 83,845 | $ | 83,845 | $ | — | $ | — | ||||||||||||||
Total | $ | 83,845 | $ | 83,845 | $ | — | $ | — | |||||||||||||||
Redeemable Noncontrolling Interests – | |||||||||||||||||||||||
Operating Partnership/Redeemable | |||||||||||||||||||||||
Limited Partners | Mezzanine | $ | 363,144 | $ | — | $ | 363,144 | $ | — | ||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||
Balance Sheet | Identical Assets/Liabilities | Observable Inputs | Unobservable Inputs | ||||||||||||||||||||
Description | Location | 12/31/12 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets | |||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Fair Value Hedges | Other Assets | $ | 1,523 | $ | — | $ | 1,523 | $ | — | ||||||||||||||
Supplemental Executive Retirement Plan | Other Assets | 70,655 | 70,655 | — | — | ||||||||||||||||||
Available-for-Sale Investment Securities | Other Assets | 2,214 | 2,214 | — | — | ||||||||||||||||||
Total | $ | 74,392 | $ | 72,869 | $ | 1,523 | $ | — | |||||||||||||||
Liabilities | |||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Forward Starting Swaps | Other Liabilities | $ | 44,050 | $ | — | $ | 44,050 | $ | — | ||||||||||||||
Supplemental Executive Retirement Plan | Other Liabilities | 70,655 | 70,655 | — | — | ||||||||||||||||||
Total | $ | 114,705 | $ | 70,655 | $ | 44,050 | $ | — | |||||||||||||||
Redeemable Noncontrolling Interests – | |||||||||||||||||||||||
Operating Partnership/Redeemable | |||||||||||||||||||||||
Limited Partners | Mezzanine | $ | 398,372 | $ | — | $ | 398,372 | $ | — | ||||||||||||||
The following tables provide a summary of the effect of fair value hedges on the Company’s accompanying consolidated statements of operations and comprehensive income for the years ended December 31, 2013, 2012 and 2011, respectively (amounts in thousands): | |||||||||||||||||||||||
December 31, 2013 | Location of Gain/(Loss) Recognized in Income | Amount of Gain/(Loss) Recognized in Income | Income Statement Location of Hedged | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||||||
Type of Fair Value Hedge | on Derivative | on Derivative | Hedged Item | Item Gain/(Loss) | on Hedged Item | ||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Interest Rate Swaps | Interest expense | $ | (1,523 | ) | Fixed rate debt | Interest expense | $ | 1,523 | |||||||||||||||
Total | $ | (1,523 | ) | $ | 1,523 | ||||||||||||||||||
December 31, 2012 | Location of Gain/(Loss) Recognized in Income | Amount of Gain/(Loss) Recognized in Income | Income Statement Location of Hedged | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||||||
Type of Fair Value Hedge | on Derivative | on Derivative | Hedged Item | Item Gain/(Loss) | on Hedged Item | ||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Interest Rate Swaps | Interest expense | $ | (7,448 | ) | Fixed rate debt | Interest expense | $ | 7,448 | |||||||||||||||
Total | $ | (7,448 | ) | $ | 7,448 | ||||||||||||||||||
December 31, 2011 | Location of Gain/(Loss) Recognized in Income | Amount of Gain/(Loss) Recognized in Income | Income Statement Location of Hedged | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||||||
Type of Fair Value Hedge | on Derivative | on Derivative | Hedged Item | Item Gain/(Loss) | on Hedged Item | ||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Interest Rate Swaps | Interest expense | $ | (3,549 | ) | Fixed rate debt | Interest expense | $ | 3,549 | |||||||||||||||
Total | $ | (3,549 | ) | $ | 3,549 | ||||||||||||||||||
The following tables provide a summary of the effect of cash flow hedges on the Company’s accompanying consolidated statements of operations and comprehensive income for the years ended December 31, 2013, 2012 and 2011, respectively (amounts in thousands): | |||||||||||||||||||||||
Effective Portion | Ineffective Portion | ||||||||||||||||||||||
December 31, 2013 | Amount of | Location of Gain/(Loss) | Amount of Gain/(Loss) | Location of | Amount of Gain/(Loss) | ||||||||||||||||||
Gain/(Loss) Recognized in OCI | Reclassified from Accumulated OCI | Reclassified from Accumulated OCI | Gain/(Loss) Recognized in Income | Reclassified from Accumulated OCI | |||||||||||||||||||
Type of Cash Flow Hedge | on Derivative | into Income | into Income | on Derivative | into Income | ||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Forward Starting Swaps/Treasury Locks | $ | 18,771 | Interest expense | $ | (20,141 | ) | N/A | $ | — | ||||||||||||||
Total | $ | 18,771 | $ | (20,141 | ) | $ | — | ||||||||||||||||
Effective Portion | Ineffective Portion | ||||||||||||||||||||||
December 31, 2012 | Amount of | Location of Gain/(Loss) | Amount of Gain/(Loss) | Location of | Amount of Gain/(Loss) | ||||||||||||||||||
Gain/(Loss) Recognized in OCI | Reclassified from Accumulated | Reclassified from Accumulated | Gain/(Loss) Recognized in Income | Reclassified from Accumulated | |||||||||||||||||||
on Derivative | OCI | OCI | on Derivative | OCI | |||||||||||||||||||
Type of Cash Flow Hedge | into Income | into Income | into Income | ||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Forward Starting Swaps/Treasury Locks | $ | (11,772 | ) | Interest expense | $ | (14,678 | ) | N/A | $ | — | |||||||||||||
Total | $ | (11,772 | ) | $ | (14,678 | ) | $ | — | |||||||||||||||
Effective Portion | Ineffective Portion | ||||||||||||||||||||||
December 31, 2011 | Amount of | Location of Gain/(Loss) | Amount of Gain/(Loss) | Location of | Amount of Gain/(Loss) | ||||||||||||||||||
Gain/(Loss) Recognized in OCI | Reclassified from Accumulated | Reclassified from Accumulated | Gain/(Loss) Recognized in Income | Reclassified from Accumulated | |||||||||||||||||||
on Derivative | OCI | OCI | on Derivative | OCI | |||||||||||||||||||
Type of Cash Flow Hedge | into Income | into Income | into Income | ||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Forward Starting Swaps/Treasury Locks | $ | (145,090 | ) | Interest expense | $ | (4,343 | ) | Interest expense | $ | (170 | ) | ||||||||||||
Development Interest Rate Swaps/Caps | 1,322 | Interest expense | — | N/A | — | ||||||||||||||||||
Total | $ | (143,768 | ) | $ | (4,343 | ) | $ | (170 | ) | ||||||||||||||
As of December 31, 2013 and 2012, there were approximately $155.8 million and $194.7 million in deferred losses, net, included in accumulated other comprehensive (loss), respectively, related to derivative instruments. Based on the estimated fair values of the net derivative instruments at December 31, 2013, the Company may recognize an estimated $21.8 million of accumulated other comprehensive (loss) as additional interest expense during the year ending December 31, 2014. | |||||||||||||||||||||||
In April 2013, the Company paid approximately $44.7 million to settle three forward starting swaps in conjunction with the issuance of $500.0 million of ten-year fixed rate public notes. The accrued interest of $0.7 million was recorded as interest expense. The remaining amount of $44.0 million will be deferred as a component of accumulated other comprehensive (loss) and recognized as an increase to interest expense over the approximate term of the notes. | |||||||||||||||||||||||
In December 2011, the Company paid approximately $153.2 million to settle various forward starting swaps in conjunction with the issuance of $1.0 billion of ten-year fixed rate public notes. The ineffective portion of $0.2 million and accrued interest of $5.9 million were recorded as interest expense. The remaining amount of $147.1 million will be deferred as a component of accumulated other comprehensive (loss) and is recognized as an increase to interest expense over the approximate term of the notes. | |||||||||||||||||||||||
The following tables set forth the maturity, amortized cost, gross unrealized gains and losses, book/fair value and interest and other income of the various investment securities held as of December 31, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||||||||||
Other Assets | |||||||||||||||||||||||
December 31, 2013 | Maturity | Amortized | Unrealized | Unrealized | Book/ | Interest and | |||||||||||||||||
Security | Cost | Gains | Losses | Fair Value | Other Income | ||||||||||||||||||
Available-for-Sale Investment Securities | N/A | $ | — | $ | — | $ | — | $ | — | $ | 2,122 | ||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | 2,122 | |||||||||||||
Other Assets | |||||||||||||||||||||||
December 31, 2012 | Maturity | Amortized | Unrealized | Unrealized | Book/ | Interest and | |||||||||||||||||
Security | Cost | Gains | Losses | Fair Value | Other Income | ||||||||||||||||||
Available-for-Sale Investment Securities | N/A | $ | 675 | $ | 1,539 | $ | — | $ | 2,214 | $ | — | ||||||||||||
Total | $ | 675 | $ | 1,539 | $ | — | $ | 2,214 | $ | — | |||||||||||||
During the year ended December 31, 2013, the Company sold all of its investment securities, receiving proceeds of approximately $2.8 million, and recorded a $2.1 million realized gain on sale (specific identification) which is included in interest and other income. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share And Earnings Per Unit [Text Block] | ' | |||||||||||
10 | Earnings Per Share and Earnings Per Unit | |||||||||||
Equity Residential | ||||||||||||
The following tables set forth the computation of net income per share – basic and net income per share – diluted for the Company (amounts in thousands except per share amounts): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Numerator for net income per share – basic: | ||||||||||||
(Loss) income from continuing operations | $ | (168,174 | ) | $ | 160,298 | $ | (72,941 | ) | ||||
Allocation to Noncontrolling Interests – Operating Partnership, net | 6,834 | (6,417 | ) | 3,880 | ||||||||
Net loss (income) attributable to Noncontrolling Interests – Partially Owned Properties | 538 | (844 | ) | (832 | ) | |||||||
Preferred distributions | (4,145 | ) | (10,355 | ) | (13,865 | ) | ||||||
Premium on redemption of Preferred Shares | — | (5,152 | ) | — | ||||||||
(Loss) income from continuing operations available to Common Shares, net of | (164,947 | ) | 137,530 | (83,758 | ) | |||||||
Noncontrolling Interests | ||||||||||||
Discontinued operations, net of Noncontrolling Interests | 1,991,415 | 688,682 | 963,478 | |||||||||
Numerator for net income per share – basic | $ | 1,826,468 | $ | 826,212 | $ | 879,720 | ||||||
Numerator for net income per share – diluted (1): | ||||||||||||
Income from continuing operations | $ | 160,298 | ||||||||||
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties | (844 | ) | ||||||||||
Preferred distributions | (10,355 | ) | ||||||||||
Premium on redemption of Preferred Shares | (5,152 | ) | ||||||||||
Income from continuing operations available to Common Shares | 143,947 | |||||||||||
Discontinued operations, net | 720,906 | |||||||||||
Numerator for net income per share – diluted (1) | $ | 1,826,468 | $ | 864,853 | $ | 879,720 | ||||||
Denominator for net income per share – basic and diluted (1): | ||||||||||||
Denominator for net income per share – basic | 354,305 | 302,701 | 294,856 | |||||||||
Effect of dilutive securities: | ||||||||||||
OP Units | 13,853 | |||||||||||
Long-term compensation shares/units | 3,212 | |||||||||||
Denominator for net income per share – diluted (1) | 354,305 | 319,766 | 294,856 | |||||||||
Net income per share – basic | $ | 5.16 | $ | 2.73 | $ | 2.98 | ||||||
Net income per share – diluted | $ | 5.16 | $ | 2.7 | $ | 2.98 | ||||||
Net income per share – basic: | ||||||||||||
(Loss) income from continuing operations available to Common Shares, net of | $ | (0.466 | ) | $ | 0.454 | $ | (0.284 | ) | ||||
Noncontrolling Interests | ||||||||||||
Discontinued operations, net of Noncontrolling Interests | 5.621 | 2.275 | 3.268 | |||||||||
Net income per share – basic | $ | 5.155 | $ | 2.729 | $ | 2.984 | ||||||
Net income per share – diluted (1): | ||||||||||||
(Loss) income from continuing operations available to Common Shares | $ | (0.466 | ) | $ | 0.45 | $ | (0.284 | ) | ||||
Discontinued operations, net | 5.621 | 2.255 | 3.268 | |||||||||
Net income per share – diluted | $ | 5.155 | $ | 2.705 | $ | 2.984 | ||||||
Distributions declared per Common Share outstanding | $ | 1.85 | $ | 1.78 | $ | 1.58 | ||||||
-1 | Potential common shares issuable from the assumed conversion of OP Units and the exercise/vesting of long-term compensation shares/units are automatically anti-dilutive and therefore excluded from the diluted earnings per share calculation as the Company had a loss from continuing operations for the years ended December 31, 2013 and 2011. | |||||||||||
For additional disclosures regarding the employee share options and restricted shares, see Notes 2 and 12. | ||||||||||||
ERP Operating Limited Partnership | ||||||||||||
The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Numerator for net income per Unit – basic and diluted (1): | ||||||||||||
(Loss) income from continuing operations | $ | (168,174 | ) | $ | 160,298 | $ | (72,941 | ) | ||||
Net loss (income) attributable to Noncontrolling Interests – Partially Owned Properties | 538 | (844 | ) | (832 | ) | |||||||
Allocation to Preference Units | (4,145 | ) | (10,355 | ) | (13,865 | ) | ||||||
Allocation to premium on redemption of Preference Units | — | (5,152 | ) | — | ||||||||
(Loss) income from continuing operations available to Units | (171,781 | ) | 143,947 | (87,638 | ) | |||||||
Discontinued operations, net | 2,073,527 | 720,906 | 1,008,138 | |||||||||
Numerator for net income per Unit – basic and diluted (1) | $ | 1,901,746 | $ | 864,853 | $ | 920,500 | ||||||
Denominator for net income per Unit – basic and diluted (1): | ||||||||||||
Denominator for net income per Unit – basic | 368,038 | 316,554 | 308,062 | |||||||||
Effect of dilutive securities: | ||||||||||||
Dilution for Units issuable upon assumed exercise/vesting of the Company's | 3,212 | |||||||||||
long-term compensation shares/units | ||||||||||||
Denominator for net income per Unit – diluted (1) | 368,038 | 319,766 | 308,062 | |||||||||
Net income per Unit – basic | $ | 5.16 | $ | 2.73 | $ | 2.98 | ||||||
Net income per Unit – diluted | $ | 5.16 | $ | 2.7 | $ | 2.98 | ||||||
Net income per Unit – basic: | ||||||||||||
(Loss) income from continuing operations available to Units | $ | (0.466 | ) | $ | 0.454 | $ | (0.284 | ) | ||||
Discontinued operations, net | 5.621 | 2.275 | 3.268 | |||||||||
Net income per Unit – basic | $ | 5.155 | $ | 2.729 | $ | 2.984 | ||||||
Net income per Unit – diluted (1): | ||||||||||||
(Loss) income from continuing operations available to Units | $ | (0.466 | ) | $ | 0.45 | $ | (0.284 | ) | ||||
Discontinued operations, net | 5.621 | 2.255 | 3.268 | |||||||||
Net income per Unit – diluted | $ | 5.155 | $ | 2.705 | $ | 2.984 | ||||||
Distributions declared per Unit outstanding | $ | 1.85 | $ | 1.78 | $ | 1.58 | ||||||
-1 | Potential Units issuable from the assumed exercise/vesting of the Company's long-term compensation shares/units are automatically anti-dilutive and therefore excluded from the diluted earnings per Unit calculation as the Operating Partnership had a loss from continuing operations for the years ended December 31, 2013 and 2011. | |||||||||||
For additional disclosures regarding the employee share options and restricted shares, see Notes 2 and 12. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Discontinued Operations | ' | |||||||||||
11 | Discontinued Operations | |||||||||||
The Company has presented separately as discontinued operations in all periods the results of operations for all consolidated assets disposed of and all properties held for sale, if any. | ||||||||||||
The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets during each of the years ended December 31, 2013, 2012 and 2011 (amounts in thousands). | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
REVENUES | ||||||||||||
Rental income | $ | 121,942 | $ | 445,832 | $ | 560,399 | ||||||
Total revenues | 121,942 | 445,832 | 560,399 | |||||||||
EXPENSES (1) | ||||||||||||
Property and maintenance | 36,792 | 103,371 | 160,315 | |||||||||
Real estate taxes and insurance | 11,903 | 41,208 | 50,173 | |||||||||
Property management | 1 | 211 | 266 | |||||||||
Depreciation | 34,380 | 124,323 | 157,441 | |||||||||
General and administrative | 85 | 92 | 55 | |||||||||
Total expenses | 83,161 | 269,205 | 368,250 | |||||||||
Discontinued operating income | 38,781 | 176,627 | 192,149 | |||||||||
Interest and other income | 217 | 156 | 198 | |||||||||
Other expenses | (3 | ) | (170 | ) | (421 | ) | ||||||
Interest (2): | ||||||||||||
Expense incurred, net | (1,296 | ) | (3,811 | ) | (9,268 | ) | ||||||
Amortization of deferred financing costs | (228 | ) | (140 | ) | (1,230 | ) | ||||||
Income and other tax (expense) benefit | (449 | ) | (34 | ) | 221 | |||||||
Discontinued operations | 37,022 | 172,628 | 181,649 | |||||||||
Net gain on sales of discontinued operations | 2,036,505 | 548,278 | 826,489 | |||||||||
Discontinued operations, net | $ | 2,073,527 | $ | 720,906 | $ | 1,008,138 | ||||||
-1 | Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership. | |||||||||||
-2 | Includes only interest expense specific to secured mortgage notes payable for properties sold. | |||||||||||
For the properties sold during 2013, the investment in real estate, net of accumulated depreciation, and the mortgage notes payable balances at December 31, 2012 were $2.0 billion and $34.4 million, respectively. |
Share_Incentive_Plans
Share Incentive Plans | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||||||
Share Incentive Plans | ' | ||||||||||||||||||||
12 | Share Incentive Plans | ||||||||||||||||||||
Any Common Shares issued pursuant to EQR's incentive equity compensation and employee share purchase plans will result in ERPOP issuing OP Units to EQR on a one-for-one basis with ERPOP receiving the net cash proceeds of such issuances. | |||||||||||||||||||||
On June 16, 2011, the shareholders of EQR approved the Company's 2011 Plan. The 2011 Plan reserved 12,980,741 Common Shares for issuance. In conjunction with the approval of the 2011 Plan, no further awards may be granted under the 2002 Share Incentive Plan. The 2011 Plan expires on June 16, 2021. As of December 31, 2013, 9,562,775 shares were available for future issuance. | |||||||||||||||||||||
Pursuant to the 2011 Plan, the 2002 Share Incentive Plan, as restated, and the Amended and Restated 1993 Share Option and Share Award Plan, as amended (collectively the “Share Incentive Plans”), officers, trustees and key employees of the Company may be granted share options to acquire Common Shares (“Options”) including non-qualified share options (“NQSOs”), incentive share options (“ISOs”) and share appreciation rights (“SARs”), or may be granted restricted or non-restricted shares/units (including performance-based awards), subject to conditions and restrictions as described in the Share Incentive Plans. Options, SARs, restricted shares, performance shares and LTIP Units (see discussion below) are sometimes collectively referred to herein as “Awards”. | |||||||||||||||||||||
The Options are generally granted at the fair market value of the Company’s Common Shares at the date of grant, vest in three equal installments over a three-year period, are exercisable upon vesting and expire ten years from the date of grant (see additional valuation discussion in Note 2). The exercise price for all Options under the Share Incentive Plans is equal to the fair market value of the underlying Common Shares at the time the Option is granted. Options exercised result in new Common Shares being issued on the open market. The 2002 Share Incentive Plan, as amended, will terminate at such time as all outstanding Awards have expired or have been exercised/vested. The Amended and Restated 1993 Share Option and Share Award Plan, as amended, terminated in the first quarter of 2013 as all outstanding Awards have expired or have been exercised/vested. The Board of Trustees may at any time amend or terminate the Share Incentive Plans, but termination will not affect Awards previously granted. Any Options which had vested prior to such a termination would remain exercisable by the holder. | |||||||||||||||||||||
Restricted shares are generally granted at the fair market value of the Company's Common Shares at the date of grant. Restricted shares that have been awarded through December 31, 2013 generally vest three years from the award date. In addition, the Company’s unvested restricted shareholders have the same voting rights as any other Common Share holder. During the three-year period of restriction, the Company’s unvested restricted shareholders receive quarterly dividend payments on their shares at the same rate and on the same date as any other Common Share holder. As a result, dividends paid on unvested restricted shares are included as a component of retained earnings (included in general partner's capital in the Operating Partnership's financial statements) and have not been considered in reducing net income available to Common Shares/Units in a manner similar to the Company’s preferred share/preference unit dividends for the earnings per share/Unit calculation. If employment is terminated prior to the lapsing of the restriction, the shares are generally canceled. | |||||||||||||||||||||
In December 2008, the Company’s then existing 2002 Share Incentive Plan was amended to allow for the issuance of long-term incentive plan units (“LTIP Units”) to officers of the Company as an alternative to the Company’s restricted shares. The 2011 Plan also allows for the issuance of LTIP Units. LTIP Units are a class of partnership interests that under certain conditions, including vesting, are convertible by the holder into an equal number of OP Units, which are redeemable by the holder for Common Shares on a one-for-one basis or the cash value of such shares at the option of the Company. In connection with the grant of long-term incentive compensation for services provided during a year, officers of the Company are allowed to choose, on a one-for-one basis, between restricted shares and LTIP Units. In January 2011, certain holders of restricted shares converted these shares into LTIP Units. Similar to restricted shares, LTIP Units are generally granted at the fair market value of the Company's Common Shares at the date of grant and generally vest three years from the award date. In addition, LTIP Unit holders receive quarterly dividend payments on their LTIP Units at the same rate and on the same date as any other OP Unit holder. As a result, dividends paid on LTIP Units are included as a component of Noncontrolling Interests – Operating Partnership/Limited Partners' capital and have not been considered in reducing net income available to Common Shares/Units in a manner similar to the Company’s preferred share/preference unit dividends for the earnings per share/Unit calculation. If employment is terminated prior to vesting, the LTIP Units are generally canceled. An LTIP Unit will automatically convert to an OP Unit when the capital account of each LTIP Unit increases (“books-up”) to a specified target. If the capital target is not attained within ten years following the date of issuance, the LTIP Unit will automatically be canceled and no compensation will be payable to the holder of such canceled LTIP Unit. | |||||||||||||||||||||
All Trustees, with the exception of the Company's non-executive Chairman and employee Trustees, are granted options and restricted shares that vest one-year from the grant date that corresponds to the term for which he or she has been elected to serve. The non-executive Chairman's grants vest over the same term or period as all other employees. | |||||||||||||||||||||
The Company's Share Incentive Plans provide for certain benefits upon retirement. For employees hired prior to January 1, 2009, retirement generally means the termination of employment (other than for cause): (i) on or after age 62; or (ii) prior to age 62 after meeting the requirements of the Rule of 70 (described below). For employees hired after January 1, 2009, retirement generally means the termination of employment (other than for cause) after meeting the requirements of the Rule of 70. For Trustees, retirement generally means termination of service on the Board (other than for cause) on or after age 72. | |||||||||||||||||||||
The Rule of 70 is met when an employee’s years of service with the Company (which must be at least 15 years) plus his or her age (which must be at least 55 years) on the date of termination equals or exceeds 70 years. In addition, the employee must give the Company at least 6 months’ advance written notice of his or her intention to retire and sign a release upon termination of employment, releasing the Company from customary claims and agreeing to ongoing non-competition and employee non-solicitation provisions. | |||||||||||||||||||||
Under the Company's definitions of retirement, several of its executive officers, including its Chief Executive Officer, and its non-executive Chairman, are retirement eligible. | |||||||||||||||||||||
For employees hired prior to January 1, 2009 who retire at or after age 62 or for Trustees who retire at or after age 72, such employee’s or Trustee's unvested restricted shares, LTIP Units and share options would immediately vest, and share options would continue to be exercisable for the balance of the applicable ten-year option period, as is provided under the Share Incentive Plans. For all other employees (those hired after January 1, 2009 and those hired before such date who choose to retire prior to age 62), upon such retirement under the Rule of 70 definition of retirement of employees, such employee’s unvested restricted shares, LTIP Units and share options would continue to vest per the original vesting schedule (subject to immediate vesting upon the occurrence of a subsequent change in control of the Company or the employee’s death), and options would continue to be exercisable for the balance of the applicable ten-year option period, subject to the employee’s compliance with the non-competition and employee non-solicitation provisions. If an employee violates these provisions after such retirement, all unvested restricted shares, unvested LTIP Units and unvested and vested share options at the time of the violation would be void, unless otherwise determined by the Compensation Committee of the Board of Trustees. | |||||||||||||||||||||
The following tables summarize compensation information regarding the restricted shares, LTIP Units, share options and Employee Share Purchase Plan (“ESPP”) for the three years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | |||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Compensation | Compensation | Compensation | Dividends | ||||||||||||||||||
Expense | Capitalized | Equity | Incurred | ||||||||||||||||||
Restricted shares | $ | 12,185 | $ | 1,079 | $ | 13,264 | $ | 967 | |||||||||||||
LTIP Units | 13,108 | 501 | 13,609 | 520 | |||||||||||||||||
Share options | 9,569 | 945 | 10,514 | — | |||||||||||||||||
ESPP discount | 612 | 20 | 632 | — | |||||||||||||||||
Total | $ | 35,474 | $ | 2,545 | $ | 38,019 | $ | 1,487 | |||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Compensation | Compensation | Compensation | Dividends | ||||||||||||||||||
Expense | Capitalized | Equity | Incurred | ||||||||||||||||||
Restricted shares | $ | 8,014 | $ | 922 | $ | 8,936 | $ | 949 | |||||||||||||
LTIP Units | 5,004 | 303 | 5,307 | 234 | |||||||||||||||||
Share options | 10,970 | 782 | 11,752 | — | |||||||||||||||||
ESPP discount | 844 | 121 | 965 | — | |||||||||||||||||
Total | $ | 24,832 | $ | 2,128 | $ | 26,960 | $ | 1,183 | |||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
Compensation | Compensation | Compensation | Dividends | ||||||||||||||||||
Expense | Capitalized | Equity | Incurred | ||||||||||||||||||
Restricted shares | $ | 8,041 | $ | 1,061 | $ | 9,102 | $ | 1,121 | |||||||||||||
LTIP Units | 3,344 | 297 | 3,641 | 199 | |||||||||||||||||
Share options | 8,711 | 834 | 9,545 | — | |||||||||||||||||
ESPP discount | 1,081 | 113 | 1,194 | — | |||||||||||||||||
Total | $ | 21,177 | $ | 2,305 | $ | 23,482 | $ | 1,320 | |||||||||||||
Compensation expense is generally recognized for Awards as follows: | |||||||||||||||||||||
• | Restricted shares, LTIP Units and share options – Straight-line method over the vesting period of the options or shares regardless of cliff or ratable vesting distinctions. | ||||||||||||||||||||
• | ESPP discount – Immediately upon the purchase of common shares each quarter. | ||||||||||||||||||||
The Company accelerates the recognition of compensation expense for all Awards for those individuals approaching or meeting the retirement age criteria discussed above. The total compensation expense related to Awards not yet vested at December 31, 2013 is $16.5 million (excluding the accelerated expenses for individuals approaching or meeting the retirement age criteria discussed above), which is expected to be recognized over a weighted average term of 1.45 years. | |||||||||||||||||||||
See Note 2 for additional information regarding the Company’s share-based compensation. | |||||||||||||||||||||
The table below summarizes the Award activity of the Share Incentive Plans for the three years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||
Common | Weighted | Restricted | Weighted | LTIP | Weighted | ||||||||||||||||
Shares Subject | Average | Shares | Average Fair | Units | Average Fair | ||||||||||||||||
to Options | Exercise Price | Value per | Value per | ||||||||||||||||||
per Option | Restricted Share | LTIP Unit | |||||||||||||||||||
Balance at December 31, 2010 | 10,106,488 | $33.00 | 911,950 | $32.05 | 247,508 | $25.62 | |||||||||||||||
Awards granted (1) | 1,491,311 | $53.70 | 170,588 | $53.99 | 223,452 | $46.64 | |||||||||||||||
Awards exercised/vested (2) (3) (4) | (2,945,950 | ) | $32.27 | (258,068 | ) | $38.32 | (101,988 | ) | $38.57 | ||||||||||||
Awards forfeited | (41,559 | ) | $35.14 | (126,960 | ) | $37.19 | (1,352 | ) | $27.79 | ||||||||||||
Awards expired | (16,270 | ) | $44.13 | — | — | — | — | ||||||||||||||
Balance at December 31, 2011 | 8,594,020 | $36.81 | 697,510 | $34.17 | 367,620 | $34.80 | |||||||||||||||
Awards granted (1) | 1,164,484 | $60.22 | 140,980 | $60.20 | 70,235 | $57.24 | |||||||||||||||
Awards exercised/vested (2) (3) (4) | (1,608,425 | ) | $30.87 | (300,809 | ) | $23.79 | (152,821 | ) | $21.11 | ||||||||||||
Awards forfeited | (23,795 | ) | $51.55 | (12,728 | ) | $46.25 | — | — | |||||||||||||
Awards expired | (11,029 | ) | $35.53 | — | — | — | — | ||||||||||||||
Balance at December 31, 2012 | 8,115,255 | $41.31 | 524,953 | $46.81 | 285,034 | $48.41 | |||||||||||||||
Awards granted (1) | 1,006,444 | $55.07 | 246,731 | $55.37 | 281,931 | $52.73 | |||||||||||||||
Awards exercised/vested (2) (3) (4) | (586,017 | ) | $29.34 | (253,816 | ) | $36.81 | (93,335 | ) | $32.97 | ||||||||||||
Awards forfeited | (47,819 | ) | $56.16 | (17,634 | ) | $55.74 | (2,374 | ) | $56.72 | ||||||||||||
Awards expired | (17,331 | ) | $47.51 | — | — | — | — | ||||||||||||||
Balance at December 31, 2013 | 8,470,532 | $43.67 | 500,234 | $55.79 | 471,256 | $55.67 | |||||||||||||||
-1 | The weighted average grant date fair value for Options granted during the years ended December 31, 2013, 2012 and 2011 was $7.97 per share, $8.55 per share and $8.18 per share, respectively. | ||||||||||||||||||||
-2 | The aggregate intrinsic value of options exercised during the years ended December 31, 2013, 2012 and 2011 was $16.7 million, $46.7 million and $74.8 million, respectively. These values were calculated as the difference between the strike price of the underlying awards and the per share price at which each respective award was exercised. | ||||||||||||||||||||
-3 | The fair value of restricted shares vested during the years ended December 31, 2013, 2012 and 2011 was $13.9 million, $18.0 million and $14.0 million, respectively. | ||||||||||||||||||||
-4 | The fair value of LTIP Units vested during the years ended December 31, 2013, 2012 and 2011 was $5.1 million, $9.1 million and $5.5 million, respectively. | ||||||||||||||||||||
The following table summarizes information regarding options outstanding and exercisable at December 31, 2013: | |||||||||||||||||||||
Options Outstanding (1) | Options Exercisable (2) | ||||||||||||||||||||
Range of Exercise Prices | Options | Weighted | Weighted | Options | Weighted | ||||||||||||||||
Average | Average | Average | |||||||||||||||||||
Remaining | Exercise Price | Exercise Price | |||||||||||||||||||
Contractual Life in Years | |||||||||||||||||||||
$18.70 to $24.93 | 1,235,980 | 5.08 | $23.07 | 1,235,980 | $23.07 | ||||||||||||||||
$24.94 to $31.16 | 386,723 | 0.08 | $29.25 | 386,723 | $29.25 | ||||||||||||||||
$31.17 to $37.39 | 1,332,280 | 4.58 | $32.61 | 1,332,280 | $32.61 | ||||||||||||||||
$37.40 to $43.62 | 1,347,487 | 3.2 | $40.46 | 1,347,487 | $40.46 | ||||||||||||||||
$43.63 to $49.86 | 61,187 | 6.55 | $48.41 | 23,059 | $48.06 | ||||||||||||||||
$49.87 to $56.09 | 2,774,770 | 6.99 | $53.91 | 1,226,038 | $53.64 | ||||||||||||||||
$56.10 to $62.32 | 1,332,105 | 8.2 | $59.76 | 494,922 | $59.98 | ||||||||||||||||
$18.70 to $62.32 | 8,470,532 | 5.6 | $43.67 | 6,046,489 | $38.76 | ||||||||||||||||
Vested and expected to vest | 8,293,422 | 5.55 | $43.42 | ||||||||||||||||||
as of December 31, 2013 | |||||||||||||||||||||
-1 | The aggregate intrinsic value of options outstanding that are vested and expected to vest as of December 31, 2013 is $85.6 million. | ||||||||||||||||||||
-2 | The aggregate intrinsic value and weighted average remaining contractual life in years of options exercisable as of December 31, 2013 is $85.5 million and 4.5 years, respectively. | ||||||||||||||||||||
Note: The aggregate intrinsic values in Notes (1) and (2) above were both calculated as the excess, if any, between the Company’s closing share price of $51.87 per share on December 31, 2013 and the strike price of the underlying awards. | |||||||||||||||||||||
As of December 31, 2012 and 2011, 5,385,907 Options (with a weighted average exercise price of $35.40) and 5,415,550 Options (with a weighted average exercise price of $34.64) were exercisable, respectively. |
Employee_Plans
Employee Plans | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Employee Plans [Abstract] | ' | |||||
Employee Plans | ' | |||||
13 | Employee Plans | |||||
The Company established an Employee Share Purchase Plan to provide each employee and trustee the ability to annually acquire up to $100,000 of Common Shares of EQR. In 2003, EQR's shareholders approved an increase in the aggregate number of Common Shares available under the ESPP to 7,000,000 (from 2,000,000). The Company has 3,107,341 Common Shares available for purchase under the ESPP at December 31, 2013. The Common Shares may be purchased quarterly at a price equal to 85% of the lesser of: (a) the closing price for a share on the last day of such quarter; and (b) the greater of: (i) the closing price for a share on the first day of such quarter, and (ii) the average closing price for a share for all the business days in the quarter. The following table summarizes information regarding the Common Shares issued under the ESPP (the net proceeds noted below were contributed to ERPOP in exchange for OP Units): | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
(Amounts in thousands except share and per share amounts) | ||||||
Shares issued | 73,468 | 110,054 | 113,107 | |||
Issuance price ranges | $44.26 – $48.17 | $46.33 – $51.78 | $44.04 – $51.19 | |||
Issuance proceeds | $3,401 | $5,399 | $5,262 | |||
The Company established a defined contribution plan (the “401(k) Plan”) to provide retirement benefits for employees that meet minimum employment criteria. The Company matches dollar for dollar up to the first 3% of eligible compensation that a participant contributes to the 401(k) Plan. Participants are vested in the Company’s contributions over five years. The Company recognized an expense in the amount of $4.2 million, $4.4 million and $3.7 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||
The Company established a supplemental executive retirement plan (the “SERP”) to provide certain officers and trustees an opportunity to defer a portion of their eligible compensation in order to save for retirement. The SERP is restricted to investments in Common Shares, certain marketable securities that have been specifically approved and cash equivalents. The deferred compensation liability represented in the SERP and the securities issued to fund such deferred compensation liability are consolidated by the Company and carried on the Company’s balance sheet, and the Company’s Common Shares held in the SERP are accounted for as a reduction to paid in capital (included in general partner's capital in the Operating Partnership's financial statements). |
Distribution_Reinvestment_and_
Distribution Reinvestment and Share Purchase Plan | 12 Months Ended | |
Dec. 31, 2013 | ||
Distribution Reinvestment and Share Purchase Plan [Abstract] | ' | |
Distribution Reinvestment and Share Purchase Plan | ' | |
14 | Distribution Reinvestment and Share Purchase Plan | |
On December 16, 2008, the Company filed with the SEC a Form S-3 Registration Statement to register 5,000,000 Common Shares pursuant to a Distribution Reinvestment and Share Purchase Plan (the "DRIP Plan"). The registration statement was automatically declared effective the same day and was to expire at the earlier of the date on which all 5,000,000 shares had been issued or December 16, 2011. On November 18, 2011, the Company filed with the SEC a Form S-3 Registration Statement to register 4,850,000 Common Shares under the DRIP Plan, which included the remaining shares available for issuance under the 2008 registration, which terminated as of such date. The registration statement was automatically declared effective the same day and expires at the earlier of the date on which all 4,850,000 shares have been issued or November 18, 2014. The Company has 4,814,608 Common Shares available for issuance under the DRIP Plan at December 31, 2013. | ||
The DRIP Plan provides holders of record and beneficial owners of Common Shares and Preferred Shares with a simple and convenient method of investing cash distributions in additional Common Shares (which is referred to herein as the “Dividend Reinvestment – DRIP Plan”). Common Shares may also be purchased on a monthly basis with optional cash payments made by participants in the DRIP Plan and interested new investors, not currently shareholders of EQR, at the market price of the Common Shares less a discount ranging between 0% and 5%, as determined in accordance with the DRIP Plan (which is referred to herein as the “Share Purchase – DRIP Plan”). Common Shares purchased under the DRIP Plan may, at the option of EQR, be directly issued by EQR or purchased by EQR's transfer agent in the open market using participants’ funds. The net proceeds from any Common Share issuances are contributed to ERPOP in exchange for OP Units. |
Transactions_With_Related_Part
Transactions With Related Parties | 12 Months Ended | |
Dec. 31, 2013 | ||
Transactions With Related Parties [Abstract] | ' | |
Related Party Transactions Disclosure [Text Block] | ' | |
15 | Transactions with Related Parties | |
Pursuant to the terms of the partnership agreement for the Operating Partnership, ERPOP is required to reimburse EQR for all expenses incurred by EQR in excess of income earned by EQR through its indirect 1% ownership of various entities. Amounts paid on behalf of EQR are reflected in the consolidated statements of operations and comprehensive income as general and administrative expenses. | ||
The Company leases its corporate headquarters from an entity controlled by EQR’s Chairman of the Board of Trustees. The lease terminates on January 31, 2022. Amounts incurred for such office space for the years ended December 31, 2013, 2012 and 2011, respectively, were approximately $1.7 million, $1.3 million and $2.2 million. The Company believes these amounts equal market rates for such rental space. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ' | ||||||||||||||||||||||||||||
Commitments and Contingencies | ' | ||||||||||||||||||||||||||||
16 | Commitments and Contingencies | ||||||||||||||||||||||||||||
The Company, as an owner of real estate, is subject to various Federal, state and local environmental laws. Compliance by the Company with existing laws has not had a material adverse effect on the Company. However, the Company cannot predict the impact of new or changed laws or regulations on its current properties or on properties that it may acquire in the future. | |||||||||||||||||||||||||||||
The Company is party to a housing discrimination lawsuit brought by a non-profit civil rights organization in April 2006 in the U.S. District Court for the District of Maryland. The suit alleges that the Company designed and built approximately 300 of its properties in violation of the accessibility requirements of the Fair Housing Act and Americans With Disabilities Act. The suit seeks actual and punitive damages, injunctive relief (including modification of non-compliant properties), costs and attorneys' fees. The Company believes it has a number of viable defenses, including that a majority of the named properties were completed before the operative dates of the statutes in question and/or were not designed or built by the Company. Accordingly, the Company is defending the suit vigorously. Due to the pendency of the Company's defenses and the uncertainty of many other critical factual and legal issues, it is not possible to determine or predict the outcome of the suit or a possible loss or a range of loss, and no amounts have been accrued at December 31, 2013. While no assurances can be given, the Company does not believe that the suit, if adversely determined, would have a material adverse effect on the Company. | |||||||||||||||||||||||||||||
The Company does not believe there is any other litigation pending or threatened against it that, individually or in the aggregate, may reasonably be expected to have a material adverse effect on the Company. | |||||||||||||||||||||||||||||
As of December 31, 2013, the Company has 14 consolidated projects (including 400 Park Avenue South in New York City which the Company is jointly developing with Toll Brothers that is discussed below and Park Aire in which the Company acquired a 95% interest in connection with the Archstone Transaction that is discussed in Note 6) totaling 4,017 apartment units in various stages of development with commitments to fund of approximately $768.1 million and estimated completion dates ranging through June 30, 2016, as well as other completed development projects that are in various stages of lease up or are stabilized. Some of the projects are being developed solely by the Company, while others are being co-developed with various third party development partners. The development venture agreements with these partners are primarily deal-specific, with differing terms regarding profit-sharing, equity contributions, returns on investment, buy-sell agreements and other customary provisions. The Company is the "general" or "managing" partner of the development ventures. | |||||||||||||||||||||||||||||
As of December 31, 2013, the Company has one unconsolidated project totaling 176 apartment units under development with an estimated completion date of December 31, 2014, as well as three completed development projects that are currently in lease up. These projects are all being co-developed with various third party development partners. The development venture agreements with these partners are primarily deal-specific, with differing terms regarding profit-sharing, equity contributions, returns on investment, buy-sell agreements and other customary provisions. The Company currently has no further funding obligations for Domain, Nexus Sawgrass and San Norterra. While the Company is the managing member of the Domain and Nexus Sawgrass joint ventures, was responsible for constructing both projects and has given certain construction cost overrun guarantees, the joint venture partner has significant participating rights and has active involvement in and oversight of the ongoing projects. The Domain and Nexus Sawgrass buy-sell arrangements contain provisions that provide the right, but not the obligation, for the Company to acquire the partner’s interests or sell its interests at any time following the occurrence of certain pre-defined events (including at stabilization) described in the development venture agreements. The respective partner for San Norterra and Parkside at Emeryville is the “general” or “managing” partner of the development venture and the Company does not have substantive kick-out or participating rights. The Company has given a repayment guaranty on the construction loan for Parkside at Emeryville of 50% of the outstanding balance, up to a maximum of $19.7 million, and has given certain construction cost overrun guarantees. | |||||||||||||||||||||||||||||
In December 2011, the Company and Toll Brothers (NYSE: TOL) jointly acquired a vacant land parcel at 400 Park Avenue South in New York City. The Company's and Toll Brothers' allocated portions of the purchase price were approximately $76.1 million and $57.9 million, respectively. The Company is the managing member and Toll Brothers does not have substantive kick-out or participating rights. Until the core and shell of the building is complete, the building and land will be owned jointly and are required to be consolidated on the Company's balance sheet. Thereafter, the Company will solely own and control the rental portion of the building (floors 2-22) and Toll Brothers will solely own and control the for sale portion of the building (floors 23-40). Once the core and shell are complete, the Toll Brothers' portion of the property will be deconsolidated from the Company's balance sheet. The acquisition was financed through contributions by the Company and Toll Brothers of approximately $102.5 million and $75.7 million, respectively, which included the land purchase noted above, restricted deposits and taxes and fees. As of December 31, 2013, the Company's and Toll Brothers' consolidated contributions to the joint venture were approximately $292.6 million, of which Toll Brothers' noncontrolling interest balance totaled $111.7 million. | |||||||||||||||||||||||||||||
During the years ended December 31, 2013, 2012 and 2011, total operating lease payments expensed for office space, including a portion of real estate taxes, insurance, repairs and utilities, and including rent due under 13 ground leases, aggregated $13.2 million, $8.1 million and $7.1 million, respectively. | |||||||||||||||||||||||||||||
The Company has entered into a retirement benefits agreement with its Chairman of the Board of Trustees and deferred compensation agreements with its Vice Chairman and two former chief executive officers (one of which was fully paid out in January 2013). During the years ended December 31, 2013, 2012 and 2011, the Company recognized compensation expense of $0.5 million, $1.0 million and $1.0 million, respectively, related to these agreements. | |||||||||||||||||||||||||||||
The following table summarizes the Company’s contractual obligations for minimum rent payments under operating leases and deferred compensation for the next five years and thereafter as of December 31, 2013: | |||||||||||||||||||||||||||||
Payments Due by Year (in thousands) | |||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||||
Operating Leases: | |||||||||||||||||||||||||||||
Minimum Rent Payments (a) | $ | 14,518 | $ | 14,935 | $ | 15,084 | $ | 14,961 | $ | 14,830 | $ | 869,687 | $ | 944,015 | |||||||||||||||
Other Long-Term Liabilities: | |||||||||||||||||||||||||||||
Deferred Compensation (b) | 1,378 | 1,705 | 1,705 | 1,705 | 1,705 | 5,596 | 13,794 | ||||||||||||||||||||||
(a) | Minimum basic rent due for various office space the Company leases and fixed base rent due on ground leases for 14 properties/parcels. | ||||||||||||||||||||||||||||
(b) | Estimated payments to the Company's Chairman, Vice Chairman and one former CEO based on actual and planned retirement dates. |
Reportable_Segments
Reportable Segments | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||||||
17 | Reportable Segments | ||||||||||||||||||||||||||||||||||||
Operating segments are defined as components of an enterprise that engage in business activities from which they may earn revenues and incur expenses and about which discrete financial information is available that is evaluated regularly by the chief operating decision maker. The chief operating decision maker decides how resources are allocated and assesses performance on a recurring basis at least quarterly. | |||||||||||||||||||||||||||||||||||||
The Company’s primary business is the acquisition, development and management of multifamily residential properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The chief operating decision maker evaluates the Company's operating performance geographically by market and both on a same store and non-same store basis. The Company’s operating segments located in its core markets represent its reportable segments (with the aggregation of Los Angeles, Orange County and San Diego into the Southern California reportable segment). The Company's operating segments located in its non-core markets that are not material have also been aggregated in the tables presented below. | |||||||||||||||||||||||||||||||||||||
The Company’s fee and asset management and development (including its partially owned properties) activities are other business activities that do not constitute an operating segment and as such, have been aggregated in the "Other" category in the tables presented below. | |||||||||||||||||||||||||||||||||||||
All revenues are from external customers and there is no customer who contributed 10% or more of the Company’s total revenues during the three years ended December 31, 2013, 2012 or 2011. | |||||||||||||||||||||||||||||||||||||
The primary financial measure for the Company’s rental real estate segment is net operating income (“NOI”), which represents rental income less: 1) property and maintenance expense; 2) real estate taxes and insurance expense; and 3) property management expense (all as reflected in the accompanying consolidated statements of operations and comprehensive income). The Company believes that NOI is helpful to investors as a supplemental measure of its operating performance because it is a direct measure of the actual operating results of the Company’s apartment communities. Current year NOI is compared to prior year NOI and current year budgeted NOI as a measure of financial performance. The following tables present NOI for each segment from our rental real estate specific to continuing operations for the years ended December 31, 2013, 2012 and 2011, respectively, as well as total assets and capital expenditures at December 31, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||||
Rental Income | Operating Expenses | NOI | Rental Income | Operating Expenses | NOI | Rental Income | Operating Expenses | NOI | |||||||||||||||||||||||||||||
Same store (1) | |||||||||||||||||||||||||||||||||||||
Boston | $ | 175,031 | $ | 57,261 | $ | 117,770 | $ | 168,063 | $ | 54,888 | $ | 113,175 | $ | 142,514 | $ | 49,317 | $ | 93,197 | |||||||||||||||||||
Denver | 100,425 | 30,028 | 70,397 | 93,571 | 28,204 | 65,367 | 99,681 | 32,564 | 67,117 | ||||||||||||||||||||||||||||
New York | 286,345 | 114,587 | 171,758 | 274,683 | 109,667 | 165,016 | 254,441 | 104,492 | 149,949 | ||||||||||||||||||||||||||||
San Francisco | 173,011 | 59,104 | 113,907 | 159,535 | 57,373 | 102,162 | 126,951 | 43,627 | 83,324 | ||||||||||||||||||||||||||||
Seattle | 129,283 | 43,718 | 85,565 | 122,267 | 41,041 | 81,226 | 122,494 | 45,275 | 77,219 | ||||||||||||||||||||||||||||
South Florida | 185,361 | 69,891 | 115,470 | 177,675 | 67,811 | 109,864 | 174,417 | 66,838 | 107,579 | ||||||||||||||||||||||||||||
Southern California | 333,917 | 107,346 | 226,571 | 320,749 | 103,925 | 216,824 | 299,508 | 98,907 | 200,601 | ||||||||||||||||||||||||||||
Washington DC | 253,056 | 76,033 | 177,023 | 247,880 | 75,580 | 172,300 | 240,755 | 75,492 | 165,263 | ||||||||||||||||||||||||||||
Non-core | 132,851 | 49,275 | 83,576 | 128,816 | 48,548 | 80,268 | 310,688 | 122,159 | 188,529 | ||||||||||||||||||||||||||||
Total same store | 1,769,280 | 607,243 | 1,162,037 | 1,693,239 | 587,037 | 1,106,202 | 1,771,449 | 638,671 | 1,132,778 | ||||||||||||||||||||||||||||
Non-same store/other (2) (3) | |||||||||||||||||||||||||||||||||||||
Boston | 61,139 | 18,238 | 42,901 | — | — | — | 8,115 | 2,361 | 5,754 | ||||||||||||||||||||||||||||
Denver | 2,805 | 744 | 2,061 | 1,325 | 429 | 896 | — | 1 | (1 | ) | |||||||||||||||||||||||||||
New York | 136,182 | 43,055 | 93,127 | 14,611 | 5,988 | 8,623 | 6,794 | 366 | 6,428 | ||||||||||||||||||||||||||||
San Francisco | 119,749 | 42,851 | 76,898 | 7,268 | 3,022 | 4,246 | 3,889 | 1,796 | 2,093 | ||||||||||||||||||||||||||||
Seattle | 19,462 | 6,284 | 13,178 | 4,747 | 1,510 | 3,237 | 6,012 | 2,149 | 3,863 | ||||||||||||||||||||||||||||
South Florida | 2,653 | 1,031 | 1,622 | — | — | — | 14,488 | 5,165 | 9,323 | ||||||||||||||||||||||||||||
Southern California | 74,123 | 31,599 | 42,524 | 3,040 | 1,179 | 1,861 | 30,539 | 12,144 | 18,395 | ||||||||||||||||||||||||||||
Washington DC | 179,077 | 58,759 | 120,318 | 13,124 | 3,984 | 9,140 | 36,657 | 11,373 | 25,284 | ||||||||||||||||||||||||||||
Other (3) | 13,534 | 17,998 | (4,464 | ) | 575 | 17,666 | (17,091 | ) | (3,477 | ) | 7,326 | (10,803 | ) | ||||||||||||||||||||||||
Properties sold in 2013 (4) | — | — | — | — | — | — | (358,272 | ) | (116,699 | ) | (241,573 | ) | |||||||||||||||||||||||||
Total non-same store/other | 608,724 | 220,559 | 388,165 | 44,690 | 33,778 | 10,912 | (255,255 | ) | (74,018 | ) | (181,237 | ) | |||||||||||||||||||||||||
Total | $ | 2,378,004 | $ | 827,802 | $ | 1,550,202 | $ | 1,737,929 | $ | 620,815 | $ | 1,117,114 | $ | 1,516,194 | $ | 564,653 | $ | 951,541 | |||||||||||||||||||
-1 | For the years ended December 31, 2013 and 2012, same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2012, less properties subsequently sold, which represented 80,247 apartment units. For the year ended December 31, 2011, same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2011, less properties subsequently sold, which represented 98,577 apartment units. | ||||||||||||||||||||||||||||||||||||
-2 | For the years ended December 31, 2013 and 2012, non-same store primarily includes properties acquired after January 1, 2012, plus any properties in lease-up and not stabilized as of January 1, 2012 . For the year ended December 31, 2011, non-same store primarily includes properties acquired after January 1, 2011, plus any properties in lease-up and not stabilized as of January 1, 2011. | ||||||||||||||||||||||||||||||||||||
-3 | Other includes development and other corporate operations. | ||||||||||||||||||||||||||||||||||||
-4 | Reflects discontinued operations for properties sold during 2013. | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Total Assets | Capital Expenditures | Total Assets | Capital Expenditures | ||||||||||||||||||||||||||||||||||
Same store (1) | |||||||||||||||||||||||||||||||||||||
Boston | $ | 1,087,370 | $ | 15,630 | $ | 1,133,098 | $ | 22,592 | |||||||||||||||||||||||||||||
Denver | 520,999 | 5,330 | 542,243 | 4,593 | |||||||||||||||||||||||||||||||||
New York | 2,678,546 | 8,982 | 2,742,346 | 12,437 | |||||||||||||||||||||||||||||||||
San Francisco | 968,840 | 11,767 | 999,267 | 18,010 | |||||||||||||||||||||||||||||||||
Seattle | 835,584 | 6,398 | 865,068 | 6,892 | |||||||||||||||||||||||||||||||||
South Florida | 1,157,283 | 14,550 | 1,193,506 | 17,338 | |||||||||||||||||||||||||||||||||
Southern California | 2,177,336 | 16,580 | 2,250,301 | 17,747 | |||||||||||||||||||||||||||||||||
Washington DC | 1,873,897 | 10,069 | 1,941,446 | 15,426 | |||||||||||||||||||||||||||||||||
Non-core | 645,418 | 5,186 | 674,360 | 6,989 | |||||||||||||||||||||||||||||||||
Total same store | 11,945,273 | 94,492 | 12,341,635 | 122,024 | |||||||||||||||||||||||||||||||||
Non-same store/other (2) (3) | |||||||||||||||||||||||||||||||||||||
Boston | 946,747 | 2,097 | — | — | |||||||||||||||||||||||||||||||||
Denver | 20,481 | 54 | 20,974 | 5 | |||||||||||||||||||||||||||||||||
New York | 2,092,454 | 3,024 | 406,013 | 142 | |||||||||||||||||||||||||||||||||
San Francisco | 1,824,550 | 9,989 | 178,339 | 1,176 | |||||||||||||||||||||||||||||||||
Seattle | 312,240 | 1,598 | 90,205 | 67 | |||||||||||||||||||||||||||||||||
South Florida | 50,414 | 300 | — | — | |||||||||||||||||||||||||||||||||
Southern California | 1,078,038 | 3,975 | 70,389 | 141 | |||||||||||||||||||||||||||||||||
Washington DC | 2,664,702 | 14,877 | 276,901 | 1,062 | |||||||||||||||||||||||||||||||||
Other (3) | 1,899,646 | 5,410 | 3,816,544 | 28,211 | |||||||||||||||||||||||||||||||||
Total non-same store/other | 10,889,272 | 41,324 | 4,859,365 | 30,804 | |||||||||||||||||||||||||||||||||
Total | $ | 22,834,545 | $ | 135,816 | $ | 17,201,000 | $ | 152,828 | |||||||||||||||||||||||||||||
-1 | Same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2012, less properties subsequently sold, which represented 80,247 apartment units. | ||||||||||||||||||||||||||||||||||||
-2 | Non-same store primarily includes properties acquired after January 1, 2012, plus any properties in lease-up and not stabilized as of January 1, 2012. | ||||||||||||||||||||||||||||||||||||
-3 | Other includes development and other corporate operations. | ||||||||||||||||||||||||||||||||||||
Note: Markets/Metro Areas included in the above Southern California and Non-core segments are as follows: | |||||||||||||||||||||||||||||||||||||
(a) Southern California – Los Angeles, Orange County and San Diego. | |||||||||||||||||||||||||||||||||||||
(b) Non-core – Inland Empire, CA, New England (excluding Boston), Orlando and Phoenix. | |||||||||||||||||||||||||||||||||||||
The following table presents a reconciliation of NOI from our rental real estate specific to continuing operations for the years ended December 31, 2013, 2012 and 2011, respectively (amounts in thousands): | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||
Rental income | $ | 2,378,004 | $ | 1,737,929 | $ | 1,516,194 | |||||||||||||||||||||||||||||||
Property and maintenance expense | (449,461 | ) | (332,190 | ) | (304,380 | ) | |||||||||||||||||||||||||||||||
Real estate taxes and insurance expense | (293,999 | ) | (206,723 | ) | (178,406 | ) | |||||||||||||||||||||||||||||||
Property management expense | (84,342 | ) | (81,902 | ) | (81,867 | ) | |||||||||||||||||||||||||||||||
Total operating expenses | (827,802 | ) | (620,815 | ) | (564,653 | ) | |||||||||||||||||||||||||||||||
Net operating income | $ | 1,550,202 | $ | 1,117,114 | $ | 951,541 | |||||||||||||||||||||||||||||||
Subsequent_EventsOther
Subsequent Events/Other | 12 Months Ended | |
Dec. 31, 2013 | ||
Subsequent Events Other [Abstract] | ' | |
Subsequent Events/Other | ' | |
18 | Subsequent Events/Other | |
Subsequent Events | ||
Subsequent to December 31, 2013, the Company: | ||
• | Acquired one property consisting of 430 apartments units for $143.0 million. | |
Other | ||
During the years ended December 31, 2013, 2012 and 2011, the Company incurred charges of $0.3 million, $7.0 million and $7.7 million, respectively, related to property acquisition costs, such as survey, title and legal fees, on the acquisition of operating properties (excluding the Archstone Transaction) and $5.2 million, $9.0 million and $5.1 million, respectively, related to the write-off of various pursuit and out-of-pocket costs for terminated acquisition, disposition and development transactions. These costs, totaling $5.5 million, $16.0 million and $12.8 million, respectively, are included in other expenses in the accompanying consolidated statements of operations and comprehensive income. See Note 4 for details on the property acquisition costs related to the Archstone Transaction. | ||
During the year ended December 31, 2012, the Company settled a dispute with the owners of a land parcel for $4.2 million, which is included in other expenses in the accompanying consolidated statements of operations and comprehensive income. | ||
In June 2012, the Company received $150.0 million in Archstone-related termination fees subject to certain contingencies. Consistent with the resolution of these contingencies, the Company recognized $70.0 million of these fees as interest and other income in July 2012 and recognized the remaining $80.0 million as interest and other income in October 2012. | ||
During the year ended December 31, 2013, the Company sold a technology investment it had previously written off, receiving proceeds of $2.1 million that were recorded as a realized gain on sale. During the year ended December 31, 2011, the Company received $4.5 million for the termination of its royalty participation in LRO/Rainmaker, a revenue management system. In addition, during 2011, the Company received $0.8 million for the settlement of various litigation/insurance claims. All of the above amounts are included in interest and other income in the accompanying consolidated statements of operations and comprehensive income. | ||
During the year ended December 31, 2011, the Company disposed of its corporate housing business for a sales price of approximately $4.0 million, of which the Company provided $2.0 million of seller financing to the buyer. At the time of sale, the full amount of the seller financing was reserved against and the related gain was deferred. During the year ended December 31, 2013, the Company collected $1.5 million, which represented its final reimbursement of the $2.0 million of seller financing. During the years ended December 31, 2012 and 2011, the Company collected $0.3 million and $0.2 million, respectively, on the note receivable. The Company has recognized a cumulative net gain on the sale of approximately $2.9 million. |
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||
Quarterly Financial Data (Unaudited) | ' | ||||||||||||||||
19 | Quarterly Financial Data (Unaudited) | ||||||||||||||||
Equity Residential | |||||||||||||||||
The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. All amounts have also been restated in accordance with the guidance on discontinued operations and reflect dispositions and/or properties held for sale through December 31, 2013. Amounts are in thousands, except for per share amounts. | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues (1) | $ | 504,722 | $ | 617,217 | $ | 626,629 | $ | 639,134 | |||||||||
Operating income (1) | 104,246 | 63,977 | 120,396 | 223,669 | |||||||||||||
(Loss) income from continuing operations (1) | (165,339 | ) | (58,511 | ) | (13,465 | ) | 69,141 | ||||||||||
Discontinued operations, net (1) | 1,226,373 | 395,243 | 405,182 | 46,729 | |||||||||||||
Net income * | 1,061,034 | 336,732 | 391,717 | 115,870 | |||||||||||||
Net income available to Common Shares | 1,016,650 | 323,723 | 376,155 | 109,940 | |||||||||||||
Earnings per share – basic: | |||||||||||||||||
Net income available to Common Shares | $ | 3.01 | $ | 0.9 | $ | 1.05 | $ | 0.31 | |||||||||
Weighted average Common Shares outstanding | 337,532 | 359,653 | 359,811 | 359,919 | |||||||||||||
Earnings per share – diluted: | |||||||||||||||||
Net income available to Common Shares | $ | 3.01 | $ | 0.9 | $ | 1.05 | $ | 0.3 | |||||||||
Weighted average Common Shares outstanding | 337,532 | 359,653 | 359,811 | 375,860 | |||||||||||||
-1 | The amounts presented for the first three quarters of 2013 are not equal to the same amounts previously reported in the respective Form 10-Q’s filed with the SEC for each period as a result of changes in discontinued operations due to additional property sales which occurred throughout 2013. Below is a reconciliation to the amounts previously reported: | ||||||||||||||||
First | Second | Third | |||||||||||||||
Quarter | Quarter | Quarter | |||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | ||||||||||||||
Total revenues previously reported in Form 10-Q | $ | 539,162 | $ | 635,078 | $ | 629,446 | |||||||||||
Total revenues subsequently reclassified to discontinued operations | (34,440 | ) | (17,861 | ) | (2,817 | ) | |||||||||||
Total revenues disclosed in Form 10-K | $ | 504,722 | $ | 617,217 | $ | 626,629 | |||||||||||
Operating income previously reported in Form 10-Q | $ | 117,529 | $ | 71,033 | $ | 121,394 | |||||||||||
Operating income subsequently reclassified to discontinued operations | (13,283 | ) | (7,056 | ) | (998 | ) | |||||||||||
Operating income disclosed in Form 10-K | $ | 104,246 | $ | 63,977 | $ | 120,396 | |||||||||||
(Loss) from continuing operations previously reported in Form 10-Q | $ | (153,352 | ) | $ | (51,455 | ) | $ | (12,467 | ) | ||||||||
(Loss) from continuing operations subsequently reclassified to discontinued | (11,987 | ) | (7,056 | ) | (998 | ) | |||||||||||
operations | |||||||||||||||||
(Loss) from continuing operations disclosed in Form 10-K | $ | (165,339 | ) | $ | (58,511 | ) | $ | (13,465 | ) | ||||||||
Discontinued operations, net previously reported in Form 10-Q | $ | 1,214,386 | $ | 388,187 | $ | 404,184 | |||||||||||
Discontinued operations, net from properties sold subsequent to the respective | 11,987 | 7,056 | 998 | ||||||||||||||
reporting period | |||||||||||||||||
Discontinued operations, net disclosed in Form 10-K | $ | 1,226,373 | $ | 395,243 | $ | 405,182 | |||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2012 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues (2) | $ | 414,037 | $ | 431,910 | $ | 449,072 | $ | 452,483 | |||||||||
Operating income (2) | 102,110 | 121,745 | 142,020 | 148,247 | |||||||||||||
(Loss) income from continuing operations (2) | (25,394 | ) | (6,340 | ) | 91,269 | 100,763 | |||||||||||
Discontinued operations, net (2) | 177,561 | 114,655 | 145,054 | 283,636 | |||||||||||||
Net income * | 152,167 | 108,315 | 236,323 | 384,399 | |||||||||||||
Net income available to Common Shares | 141,833 | 99,797 | 218,603 | 365,979 | |||||||||||||
Earnings per share – basic: | |||||||||||||||||
Net income available to Common Shares | $ | 0.47 | $ | 0.33 | $ | 0.73 | $ | 1.18 | |||||||||
Weighted average Common Shares outstanding | 298,805 | 300,193 | 301,336 | 310,398 | |||||||||||||
Earnings per share – diluted: | |||||||||||||||||
Net income available to Common Shares | $ | 0.47 | $ | 0.33 | $ | 0.72 | $ | 1.17 | |||||||||
Weighted average Common Shares outstanding | 298,805 | 300,193 | 318,773 | 327,108 | |||||||||||||
-2 | The amounts presented for the four quarters of 2012 are not equal to the same amounts previously reported in the Form 8-K filed with the SEC on June 17, 2013 (for the first and fourth quarters of 2012), the second quarter 2013 Form 10-Q filed with the SEC on August 8, 2013 (for the second quarter of 2012) and the third quarter 2013 Form 10-Q filed with the SEC on November 7, 2013 (for the third quarter of 2012) as a result of changes in discontinued operations due to additional property sales which occurred throughout 2013. Below is a reconciliation to the amounts previously reported: | ||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2012 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues previously reported in June 2013 Form 8-K/Form 10-Q | $ | 446,448 | $ | 448,351 | $ | 451,699 | $ | 485,868 | |||||||||
Total revenues subsequently reclassified to discontinued operations | (32,411 | ) | (16,441 | ) | (2,627 | ) | (33,385 | ) | |||||||||
Total revenues disclosed in Form 10-K | $ | 414,037 | $ | 431,910 | $ | 449,072 | $ | 452,483 | |||||||||
Operating income previously reported in June 2013 Form 8-K/Form | $ | 114,476 | $ | 128,560 | $ | 142,932 | $ | 162,109 | |||||||||
10-Q | |||||||||||||||||
Operating income subsequently reclassified to discontinued | (12,366 | ) | (6,815 | ) | (912 | ) | (13,862 | ) | |||||||||
operations | |||||||||||||||||
Operating income disclosed in Form 10-K | $ | 102,110 | $ | 121,745 | $ | 142,020 | $ | 148,247 | |||||||||
(Loss) income from continuing operations previously reported in | $ | (13,426 | ) | $ | 474 | $ | 92,181 | $ | 114,239 | ||||||||
June 2013 Form 8-K/Form 10-Q | |||||||||||||||||
Income from continuing operations subsequently reclassified to | (11,968 | ) | (6,814 | ) | (912 | ) | (13,476 | ) | |||||||||
discontinued operations | |||||||||||||||||
(Loss) income from continuing operations disclosed in Form 10-K | $ | (25,394 | ) | $ | (6,340 | ) | $ | 91,269 | $ | 100,763 | |||||||
Discontinued operations, net previously reported in June 2013 | $ | 165,593 | $ | 107,841 | $ | 144,142 | $ | 270,160 | |||||||||
Form 8-K/Form 10-Q | |||||||||||||||||
Discontinued operations, net from properties sold subsequent to the | 11,968 | 6,814 | 912 | 13,476 | |||||||||||||
respective reporting period | |||||||||||||||||
Discontinued operations, net disclosed in Form 10-K | $ | 177,561 | $ | 114,655 | $ | 145,054 | $ | 283,636 | |||||||||
* The Company did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2013 and 2012. Therefore, income before extraordinary items and cumulative effect of change in accounting principle is not shown as it was equal to the net income amounts disclosed above. | |||||||||||||||||
ERP Operating Limited Partnership | |||||||||||||||||
The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. All amounts have also been restated in accordance with the guidance on discontinued operations and reflect dispositions and/or properties held for sale through December 31, 2013. Amounts are in thousands, except for per Unit amounts. | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues (1) | $ | 504,722 | $ | 617,217 | $ | 626,629 | $ | 639,134 | |||||||||
Operating income (1) | 104,246 | 63,977 | 120,396 | 223,669 | |||||||||||||
(Loss) income from continuing operations (1) | (165,339 | ) | (58,511 | ) | (13,465 | ) | 69,141 | ||||||||||
Discontinued operations, net (1) | 1,226,373 | 395,243 | 405,182 | 46,729 | |||||||||||||
Net income * | 1,061,034 | 336,732 | 391,717 | 115,870 | |||||||||||||
Net income available to Units | 1,059,973 | 336,511 | 390,991 | 114,271 | |||||||||||||
Earnings per Unit – basic: | |||||||||||||||||
Net income available to Units | $ | 3.01 | $ | 0.9 | $ | 1.05 | $ | 0.31 | |||||||||
Weighted average Units outstanding | 351,255 | 373,403 | 373,547 | 373,643 | |||||||||||||
Earnings per Unit – diluted: | |||||||||||||||||
Net income available to Units | $ | 3.01 | $ | 0.9 | $ | 1.05 | $ | 0.3 | |||||||||
Weighted average Units outstanding | 351,255 | 373,403 | 373,547 | 375,860 | |||||||||||||
-1 | The amounts presented for the first three quarters of 2013 are not equal to the same amounts previously reported in the respective Form 10-Q’s filed with the SEC for each period as a result of changes in discontinued operations due to additional property sales which occurred throughout 2013. Below is a reconciliation to the amounts previously reported: | ||||||||||||||||
First | Second | Third | |||||||||||||||
Quarter | Quarter | Quarter | |||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | ||||||||||||||
Total revenues previously reported in Form 10-Q | $ | 539,162 | $ | 635,078 | $ | 629,446 | |||||||||||
Total revenues subsequently reclassified to discontinued operations | (34,440 | ) | (17,861 | ) | (2,817 | ) | |||||||||||
Total revenues disclosed in Form 10-K | $ | 504,722 | $ | 617,217 | $ | 626,629 | |||||||||||
Operating income previously reported in Form 10-Q | $ | 117,529 | $ | 71,033 | $ | 121,394 | |||||||||||
Operating income subsequently reclassified to discontinued operations | (13,283 | ) | (7,056 | ) | (998 | ) | |||||||||||
Operating income disclosed in Form 10-K | $ | 104,246 | $ | 63,977 | $ | 120,396 | |||||||||||
(Loss) from continuing operations previously reported in Form 10-Q | $ | (153,352 | ) | $ | (51,455 | ) | $ | (12,467 | ) | ||||||||
(Loss) from continuing operations subsequently reclassified to discontinued | (11,987 | ) | (7,056 | ) | (998 | ) | |||||||||||
operations | |||||||||||||||||
(Loss) from continuing operations disclosed in Form 10-K | $ | (165,339 | ) | $ | (58,511 | ) | $ | (13,465 | ) | ||||||||
Discontinued operations, net previously reported in Form 10-Q | $ | 1,214,386 | $ | 388,187 | $ | 404,184 | |||||||||||
Discontinued operations, net from properties sold subsequent to the respective | 11,987 | 7,056 | 998 | ||||||||||||||
reporting period | |||||||||||||||||
Discontinued operations, net disclosed in Form 10-K | $ | 1,226,373 | $ | 395,243 | $ | 405,182 | |||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2012 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues (2) | $ | 414,037 | $ | 431,910 | $ | 449,072 | $ | 452,483 | |||||||||
Operating income (2) | 102,110 | 121,745 | 142,020 | 148,247 | |||||||||||||
(Loss) income from continuing operations (2) | (25,394 | ) | (6,340 | ) | 91,269 | 100,763 | |||||||||||
Discontinued operations, net (2) | 177,561 | 114,655 | 145,054 | 283,636 | |||||||||||||
Net income * | 152,167 | 108,315 | 236,323 | 384,399 | |||||||||||||
Net income available to Units | 148,251 | 104,529 | 229,099 | 382,974 | |||||||||||||
Earnings per Unit – basic: | |||||||||||||||||
Net income available to Units | $ | 0.47 | $ | 0.33 | $ | 0.73 | $ | 1.18 | |||||||||
Weighted average Units outstanding | 312,011 | 314,255 | 315,513 | 324,364 | |||||||||||||
Earnings per Unit – diluted: | |||||||||||||||||
Net income available to Units | $ | 0.47 | $ | 0.33 | $ | 0.72 | $ | 1.17 | |||||||||
Weighted average Units outstanding | 312,011 | 314,255 | 318,773 | 327,108 | |||||||||||||
-2 | The amounts presented for the four quarters of 2012 are not equal to the same amounts previously reported in the Form 8-K filed with the SEC on June 17, 2013 (for the first and fourth quarters of 2012), the second quarter 2013 Form 10-Q filed with the SEC on August 8, 2013 (for the second quarter of 2012) and the third quarter 2013 Form 10-Q filed with the SEC on November 7, 2013 (for the third quarter of 2012) as a result of changes in discontinued operations due to additional property sales which occurred throughout 2013. Below is a reconciliation to the amounts previously reported: | ||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2012 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues previously reported in June 2013 Form 8-K/Form | $ | 446,448 | $ | 448,351 | $ | 451,699 | $ | 485,868 | |||||||||
10-Q | |||||||||||||||||
Total revenues subsequently reclassified to discontinued operations | (32,411 | ) | (16,441 | ) | (2,627 | ) | (33,385 | ) | |||||||||
Total revenues disclosed in Form 10-K | $ | 414,037 | $ | 431,910 | $ | 449,072 | $ | 452,483 | |||||||||
Operating income previously reported in June 2013 Form 8-K/Form | $ | 114,476 | $ | 128,560 | $ | 142,932 | $ | 162,109 | |||||||||
10-Q | |||||||||||||||||
Operating income subsequently reclassified to discontinued | (12,366 | ) | (6,815 | ) | (912 | ) | (13,862 | ) | |||||||||
operations | |||||||||||||||||
Operating income disclosed in Form 10-K | $ | 102,110 | $ | 121,745 | $ | 142,020 | $ | 148,247 | |||||||||
(Loss) income from continuing operations previously reported in | $ | (13,426 | ) | $ | 474 | $ | 92,181 | $ | 114,239 | ||||||||
June 2013 Form 8-K/Form 10-Q | |||||||||||||||||
Income from continuing operations subsequently reclassified to | (11,968 | ) | (6,814 | ) | (912 | ) | (13,476 | ) | |||||||||
discontinued operations | |||||||||||||||||
(Loss) income from continuing operations disclosed in Form 10-K | $ | (25,394 | ) | $ | (6,340 | ) | $ | 91,269 | $ | 100,763 | |||||||
Discontinued operations, net previously reported in June 2013 Form | $ | 165,593 | $ | 107,841 | $ | 144,142 | $ | 270,160 | |||||||||
8-K/Form 10-Q | |||||||||||||||||
Discontinued operations, net from properties sold subsequent to the | 11,968 | 6,814 | 912 | 13,476 | |||||||||||||
respective reporting period | |||||||||||||||||
Discontinued operations, net disclosed in Form 10-K | $ | 177,561 | $ | 114,655 | $ | 145,054 | $ | 283,636 | |||||||||
* The Operating Partnership did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2013 and 2012. Therefore, income before extraordinary items and cumulative effect of change in accounting principle is not shown as it was equal to the net income amounts disclosed above. |
Real_Estate_and_Accumulated_De
Real Estate and Accumulated Depreciation | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation | ' | ||||||||||||||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
Overall Summary | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Properties (H) | Units (H) | Investment in Real Estate, Gross | Accumulated | Investment in Real Estate, Net | Encumbrances | ||||||||||||||||||||||||||||||||||||||
Depreciation | |||||||||||||||||||||||||||||||||||||||||||
Wholly Owned Unencumbered | 253 | 67,220 | $ | 17,386,901,834 | $ | (3,177,396,618 | ) | $ | 14,209,505,216 | $ | — | ||||||||||||||||||||||||||||||||
Wholly Owned Encumbered | 112 | 32,101 | 8,397,867,526 | (1,457,510,357 | ) | 6,940,357,169 | 2,703,534,549 | ||||||||||||||||||||||||||||||||||||
Portfolio/Entity Encumbrances (1) | — | — | — | — | — | 2,135,958,561 | |||||||||||||||||||||||||||||||||||||
Wholly Owned Properties | 365 | 99,321 | 25,784,769,360 | (4,634,906,975 | ) | 21,149,862,385 | 4,839,493,110 | ||||||||||||||||||||||||||||||||||||
Partially Owned Unencumbered | 8 | 1,505 | 573,312,560 | (69,955,775 | ) | 503,356,785 | — | ||||||||||||||||||||||||||||||||||||
Partially Owned Encumbered | 11 | 2,247 | 442,866,480 | (102,846,572 | ) | 340,019,908 | 334,672,310 | ||||||||||||||||||||||||||||||||||||
Partially Owned Properties | 19 | 3,752 | 1,016,179,040 | (172,802,347 | ) | 843,376,693 | 334,672,310 | ||||||||||||||||||||||||||||||||||||
Total Unencumbered Properties | 261 | 68,725 | 17,960,214,394 | (3,247,352,393 | ) | 14,712,862,001 | — | ||||||||||||||||||||||||||||||||||||
Total Encumbered Properties | 123 | 34,348 | 8,840,734,006 | (1,560,356,929 | ) | 7,280,377,077 | 5,174,165,420 | ||||||||||||||||||||||||||||||||||||
Total Consolidated Investment in Real Estate | 384 | 103,073 | $ | 26,800,948,400 | $ | (4,807,709,322 | ) | $ | 21,993,239,078 | $ | 5,174,165,420 | ||||||||||||||||||||||||||||||||
-1 | See attached Encumbrances Reconciliation. | ||||||||||||||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
Encumbrances Reconciliation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Portfolio/Entity Encumbrances | Number of | See Properties With Note: | Amount | ||||||||||||||||||||||||||||||||||||||||
Properties Encumbered by | |||||||||||||||||||||||||||||||||||||||||||
EQR-Fanwell 2007 LP | 6 | I | $ | 300,000,000 | |||||||||||||||||||||||||||||||||||||||
EQR-Wellfan 2008 LP (R) | 14 | J | 550,000,000 | ||||||||||||||||||||||||||||||||||||||||
ASN-Fannie Mae 3 | 5 | K | 485,958,561 | ||||||||||||||||||||||||||||||||||||||||
Archstone Master Property Holdings LLC | 13 | L | 800,000,000 | ||||||||||||||||||||||||||||||||||||||||
Portfolio/Entity Encumbrances | 38 | 2,135,958,561 | |||||||||||||||||||||||||||||||||||||||||
Individual Property Encumbrances | 3,038,206,859 | ||||||||||||||||||||||||||||||||||||||||||
Total Encumbrances per Financial Statements | $ | 5,174,165,420 | |||||||||||||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III – Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
(Amounts in thousands) | |||||||||||||||||||||||||||||||||||||||||||
The changes in total real estate for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 21,008,429 | $ | 20,407,946 | $ | 19,702,371 | |||||||||||||||||||||||||||||||||||||
Acquisitions and development | 9,273,492 | 1,250,633 | 1,721,895 | ||||||||||||||||||||||||||||||||||||||||
Improvements | 139,950 | 161,460 | 151,476 | ||||||||||||||||||||||||||||||||||||||||
Dispositions and other | (3,620,923 | ) | (811,610 | ) | (1,167,796 | ) | |||||||||||||||||||||||||||||||||||||
Balance, end of year | $ | 26,800,948 | $ | 21,008,429 | $ | 20,407,946 | |||||||||||||||||||||||||||||||||||||
The changes in accumulated depreciation for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 4,912,221 | $ | 4,539,583 | $ | 4,337,357 | |||||||||||||||||||||||||||||||||||||
Depreciation | 1,013,353 | 684,992 | 663,616 | ||||||||||||||||||||||||||||||||||||||||
Dispositions and other | (1,117,865 | ) | (312,354 | ) | (461,390 | ) | |||||||||||||||||||||||||||||||||||||
Balance, end of year | $ | 4,807,709 | $ | 4,912,221 | $ | 4,539,583 | |||||||||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/13 | ||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Date of Construction | Units (H) | Land | Building & Fixtures | Building & Fixtures | Land | Building & Fixtures (A) | Total (B) | Accumulated Depreciation (C) | Investment in Real Estate, Net at 12/31/13 (B) | Encumbrances | |||||||||||||||||||||||||||||||
Wholly Owned Unencumbered: | |||||||||||||||||||||||||||||||||||||||||||
100 K Street | Washington, D.C. | (F) | — | $ | 15,600,000 | $ | 912,267 | $ | — | $ | 15,600,000 | $ | 912,267 | $ | 16,512,267 | $ | — | $ | 16,512,267 | $ | — | ||||||||||||||||||||||
1111 Belle Pre (fka The Madison) | Alexandria, VA (G) | (F) | — | 18,937,702 | 83,371,939 | — | 18,937,702 | 83,371,939 | 102,309,641 | — | 102,309,641 | — | |||||||||||||||||||||||||||||||
1210 Mass | Washington, D.C. (G) | 2004 | 144 | 9,213,512 | 36,559,189 | 403,220 | 9,213,512 | 36,962,409 | 46,175,921 | (11,445,278 | ) | 34,730,643 | — | ||||||||||||||||||||||||||||||
1500 Mass Ave | Washington, D.C. (G) | 1951 | 556 | 54,638,298 | 40,361,702 | 12,040,625 | 54,638,298 | 52,402,327 | 107,040,625 | (11,057,165 | ) | 95,983,460 | — | ||||||||||||||||||||||||||||||
170 Amsterdam | New York, NY | (F) | — | — | 44,799,315 | — | — | 44,799,315 | 44,799,315 | — | 44,799,315 | — | |||||||||||||||||||||||||||||||
175 Kent | Brooklyn, NY (G) | 2011 | 113 | 22,037,831 | 53,962,169 | 755,257 | 22,037,831 | 54,717,426 | 76,755,257 | (6,257,548 | ) | 70,497,709 | — | ||||||||||||||||||||||||||||||
200 N Lemon Street | Anaheim, CA | (F) | — | 5,865,235 | 1,823,393 | — | 5,865,235 | 1,823,393 | 7,688,628 | — | 7,688,628 | — | |||||||||||||||||||||||||||||||
204-206 Pine Street/1610 2nd Avenue | Seattle, WA | (F) | — | 22,106,464 | 4,717,126 | — | 22,106,464 | 4,717,126 | 26,823,590 | — | 26,823,590 | — | |||||||||||||||||||||||||||||||
2201 Pershing Drive | Arlington, VA (G) | 2012 | 188 | 11,321,198 | 49,615,688 | 338,120 | 11,321,198 | 49,953,808 | 61,275,006 | (2,490,905 | ) | 58,784,101 | — | ||||||||||||||||||||||||||||||
2201 Wilson | Arlington, VA (G) | 2000 | 219 | 21,900,000 | 79,242,161 | 490,601 | 21,900,000 | 79,732,762 | 101,632,762 | (5,494,624 | ) | 96,138,138 | — | ||||||||||||||||||||||||||||||
2400 M St | Washington, D.C. (G) | 2006 | 359 | 30,006,593 | 114,013,785 | 1,705,104 | 30,006,593 | 115,718,889 | 145,725,482 | (33,461,838 | ) | 112,263,644 | — | ||||||||||||||||||||||||||||||
420 East 80th Street | New York, NY | 1961 | 155 | 39,277,000 | 23,026,984 | 3,504,909 | 39,277,000 | 26,531,893 | 65,808,893 | (9,519,405 | ) | 56,289,488 | — | ||||||||||||||||||||||||||||||
425 Mass | Washington, D.C. (G) | 2009 | 559 | 28,150,000 | 138,600,000 | 2,871,585 | 28,150,000 | 141,471,585 | 169,621,585 | (23,372,279 | ) | 146,249,306 | — | ||||||||||||||||||||||||||||||
600 Washington | New York, NY (G) | 2004 | 135 | 32,852,000 | 43,140,551 | 286,906 | 32,852,000 | 43,427,457 | 76,279,457 | (13,659,850 | ) | 62,619,607 | — | ||||||||||||||||||||||||||||||
70 Greene | Jersey City, NJ (G) | 2010 | 480 | 28,108,899 | 236,965,215 | 471,854 | 28,108,899 | 237,437,069 | 265,545,968 | (33,100,960 | ) | 232,445,008 | — | ||||||||||||||||||||||||||||||
71 Broadway | New York, NY (G) | 1997 | 238 | 22,611,600 | 77,492,171 | 10,684,866 | 22,611,600 | 88,177,037 | 110,788,637 | (28,276,895 | ) | 82,511,742 | — | ||||||||||||||||||||||||||||||
77 Bluxome | San Francisco, CA | 2007 | 102 | 5,249,124 | 18,609,876 | 81,627 | 5,249,124 | 18,691,503 | 23,940,627 | (1,887,319 | ) | 22,053,308 | — | ||||||||||||||||||||||||||||||
777 Sixth | New York, NY (G) | 2002 | 294 | 65,352,706 | 65,747,294 | 1,095,560 | 65,352,706 | 66,842,854 | 132,195,560 | (16,931,741 | ) | 115,263,819 | — | ||||||||||||||||||||||||||||||
801 Brannan | San Francisco, CA | (F) | — | 42,367,171 | 3,280,863 | — | 42,367,171 | 3,280,863 | 45,648,034 | — | 45,648,034 | — | |||||||||||||||||||||||||||||||
88 Hillside | Daly City, CA (G) | 2011 | 95 | 7,786,800 | 31,587,325 | 1,295,347 | 7,786,800 | 32,882,672 | 40,669,472 | (3,123,822 | ) | 37,545,650 | — | ||||||||||||||||||||||||||||||
Abington Glen | Abington, MA | 1968 | 90 | 553,105 | 3,697,396 | 2,493,689 | 553,105 | 6,191,085 | 6,744,190 | (3,841,681 | ) | 2,902,509 | — | ||||||||||||||||||||||||||||||
Agoura Hills | Agoura Hills, CA | 1985 | 178 | 16,700,000 | 30,344,413 | 118,825 | 16,700,000 | 30,463,238 | 47,163,238 | (2,804,190 | ) | 44,359,048 | — | ||||||||||||||||||||||||||||||
Alban Towers | Washington, D.C. | 1934 | 229 | 18,900,000 | 90,351,467 | 116,906 | 18,900,000 | 90,468,373 | 109,368,373 | (6,685,386 | ) | 102,682,987 | — | ||||||||||||||||||||||||||||||
Arbor Terrace | Sunnyvale, CA | 1979 | 175 | 9,057,300 | 18,483,642 | 2,487,094 | 9,057,300 | 20,970,736 | 30,028,036 | (11,579,687 | ) | 18,448,349 | — | ||||||||||||||||||||||||||||||
Arboretum (MA) | Canton, MA | 1989 | 156 | 4,685,900 | 10,992,751 | 2,600,866 | 4,685,900 | 13,593,617 | 18,279,517 | (7,595,468 | ) | 10,684,049 | — | ||||||||||||||||||||||||||||||
Arden Villas | Orlando, FL | 1999 | 336 | 5,500,000 | 28,600,796 | 3,810,685 | 5,500,000 | 32,411,481 | 37,911,481 | (11,965,280 | ) | 25,946,201 | — | ||||||||||||||||||||||||||||||
Artisan on Second | Los Angeles, CA | 2008 | 118 | 8,000,400 | 36,074,600 | 168,636 | 8,000,400 | 36,243,236 | 44,243,636 | (4,986,340 | ) | 39,257,296 | — | ||||||||||||||||||||||||||||||
Ashton, The | Corona Hills, CA | 1986 | 492 | 2,594,264 | 33,042,398 | 6,733,646 | 2,594,264 | 39,776,044 | 42,370,308 | (23,448,187 | ) | 18,922,121 | — | ||||||||||||||||||||||||||||||
Auvers Village | Orlando, FL | 1991 | 480 | 3,808,823 | 29,322,243 | 7,105,642 | 3,808,823 | 36,427,885 | 40,236,708 | (20,581,844 | ) | 19,654,864 | — | ||||||||||||||||||||||||||||||
Avenue Two | Redwood City, CA | 1972 | 123 | 7,995,000 | 18,005,000 | 956,348 | 7,995,000 | 18,961,348 | 26,956,348 | (2,387,293 | ) | 24,569,055 | — | ||||||||||||||||||||||||||||||
Azure (fka Mission Bay-Block 13) | San Francisco, CA | (F) | — | 32,855,115 | 33,412,715 | — | 32,855,115 | 33,412,715 | 66,267,830 | — | 66,267,830 | — | |||||||||||||||||||||||||||||||
Ball Park Lofts | Denver, CO (G) | 2003 | 354 | 5,481,556 | 51,658,741 | 4,340,240 | 5,481,556 | 55,998,981 | 61,480,537 | (19,343,578 | ) | 42,136,959 | — | ||||||||||||||||||||||||||||||
Barrington Place | Oviedo, FL | 1998 | 233 | 6,990,000 | 15,740,825 | 2,889,445 | 6,990,000 | 18,630,270 | 25,620,270 | (8,520,785 | ) | 17,099,485 | — | ||||||||||||||||||||||||||||||
Bay Hill | Long Beach, CA | 2002 | 160 | 7,600,000 | 27,437,239 | 913,982 | 7,600,000 | 28,351,221 | 35,951,221 | (10,003,163 | ) | 25,948,058 | — | ||||||||||||||||||||||||||||||
Beatrice, The | New York, NY | 2010 | 302 | 114,351,405 | 165,648,595 | 124,512 | 114,351,405 | 165,773,107 | 280,124,512 | (17,146,544 | ) | 262,977,968 | — | ||||||||||||||||||||||||||||||
Bella Terra I | Mukilteo, WA (G) | 2002 | 235 | 5,686,861 | 26,070,540 | 942,474 | 5,686,861 | 27,013,014 | 32,699,875 | (10,029,556 | ) | 22,670,319 | — | ||||||||||||||||||||||||||||||
Belle Arts Condominium Homes, LLC | Bellevue, WA | 2000 | 1 | 63,158 | 248,929 | (5,320 | ) | 63,158 | 243,609 | 306,767 | — | 306,767 | — | ||||||||||||||||||||||||||||||
Belle Fontaine | Marina Del Ray, CA | 2003 | 102 | 9,098,808 | 28,701,192 | 162,958 | 9,098,808 | 28,864,150 | 37,962,958 | (3,227,931 | ) | 34,735,027 | — | ||||||||||||||||||||||||||||||
Bellevue | Bellevue, WA (G) | 1998 | 191 | 15,100,000 | 42,169,280 | 761,135 | 15,100,000 | 42,930,415 | 58,030,415 | (2,840,690 | ) | 55,189,725 | — | ||||||||||||||||||||||||||||||
Berkeley Land | Berkeley, CA | (F) | — | 13,908,910 | 5,082,581 | — | 13,908,910 | 5,082,581 | 18,991,491 | — | 18,991,491 | — | |||||||||||||||||||||||||||||||
Boston Common | Boston, MA (G) | 2006 | 420 | 106,100,000 | 167,711,384 | 190,386 | 106,100,000 | 167,901,770 | 274,001,770 | (13,060,243 | ) | 260,941,527 | — | ||||||||||||||||||||||||||||||
Bradford Apartments | Newington, CT | 1964 | 64 | 401,091 | 2,681,210 | 813,895 | 401,091 | 3,495,105 | 3,896,196 | (1,738,035 | ) | 2,158,161 | — | ||||||||||||||||||||||||||||||
Briar Knoll Apts | Vernon, CT | 1986 | 150 | 928,972 | 6,209,988 | 1,655,316 | 928,972 | 7,865,304 | 8,794,276 | (4,017,041 | ) | 4,777,235 | — | ||||||||||||||||||||||||||||||
Briarwood (CA) | Sunnyvale, CA | 1985 | 192 | 9,991,500 | 22,247,278 | 2,873,885 | 9,991,500 | 25,121,163 | 35,112,663 | (12,928,298 | ) | 22,184,365 | — | ||||||||||||||||||||||||||||||
Bridford Lakes II | Greensboro, NC | (F) | — | 1,100,564 | 792,508 | — | 1,100,564 | 792,508 | 1,893,072 | — | 1,893,072 | — | |||||||||||||||||||||||||||||||
Brooklyn Heights | Brooklyn, NY (G) | 2000 | 193 | 32,400,000 | 93,317,261 | 79,289 | 32,400,000 | 93,396,550 | 125,796,550 | (6,989,848 | ) | 118,806,702 | — | ||||||||||||||||||||||||||||||
Brooklyner (fka 111 Lawrence) | Brooklyn, NY (G) | 2010 | 490 | 40,099,922 | 221,435,831 | 375,977 | 40,099,922 | 221,811,808 | 261,911,730 | (23,147,254 | ) | 238,764,476 | — | ||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/13 | ||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Date of Construction | Units (H) | Land | Building & Fixtures | Building & Fixtures | Land | Building & Fixtures (A) | Total (B) | Accumulated Depreciation (C) | Investment in Real Estate, Net at 12/31/13 (B) | Encumbrances | |||||||||||||||||||||||||||||||
Brookside (CO) | Boulder, CO | 1993 | 144 | 3,600,400 | 10,211,159 | 2,563,906 | 3,600,400 | 12,775,065 | 16,375,465 | (6,711,041 | ) | 9,664,424 | — | ||||||||||||||||||||||||||||||
Cambridge Park | Cambridge, MA (G) | 2002 | 312 | 31,200,000 | 106,752,364 | 739,806 | 31,200,000 | 107,492,170 | 138,692,170 | (7,705,656 | ) | 130,986,514 | — | ||||||||||||||||||||||||||||||
Carlyle Mill | Alexandria, VA | 2002 | 317 | 10,000,000 | 51,367,913 | 4,358,788 | 10,000,000 | 55,726,701 | 65,726,701 | (21,654,122 | ) | 44,072,579 | — | ||||||||||||||||||||||||||||||
Cascade | Seattle, WA | (F) | — | 12,198,278 | 4,063,175 | — | 12,198,278 | 4,063,175 | 16,261,453 | — | 16,261,453 | — | |||||||||||||||||||||||||||||||
Cascade II | Seattle, WA | (F) | — | 11,553,286 | 2,711,440 | — | 11,553,286 | 2,711,440 | 14,264,726 | — | 14,264,726 | — | |||||||||||||||||||||||||||||||
Centennial (fka Centennial Court & Centennial Tower) | Seattle, WA (G) | 1991/2001 | 408 | 9,700,000 | 70,080,378 | 5,479,205 | 9,700,000 | 75,559,583 | 85,259,583 | (24,644,073 | ) | 60,615,510 | — | ||||||||||||||||||||||||||||||
Centre Club | Ontario, CA | 1994 | 312 | 5,616,000 | 23,485,891 | 3,045,795 | 5,616,000 | 26,531,686 | 32,147,686 | (12,919,164 | ) | 19,228,522 | — | ||||||||||||||||||||||||||||||
Centre Club II | Ontario, CA | 2002 | 100 | 1,820,000 | 9,528,898 | 689,904 | 1,820,000 | 10,218,802 | 12,038,802 | (4,327,441 | ) | 7,711,361 | — | ||||||||||||||||||||||||||||||
Cierra Crest | Denver, CO | 1996 | 480 | 4,803,100 | 34,894,898 | 5,106,249 | 4,803,100 | 40,001,147 | 44,804,247 | (22,917,727 | ) | 21,886,520 | — | ||||||||||||||||||||||||||||||
Cleo, The | Los Angeles, CA | 1989 | 92 | 6,615,467 | 14,829,335 | 3,750,349 | 6,615,467 | 18,579,684 | 25,195,151 | (6,566,783 | ) | 18,628,368 | — | ||||||||||||||||||||||||||||||
Coconut Palm Club | Coconut Creek, FL | 1992 | 301 | 3,001,700 | 17,678,928 | 3,775,228 | 3,001,700 | 21,454,156 | 24,455,856 | (11,971,663 | ) | 12,484,193 | — | ||||||||||||||||||||||||||||||
Courthouse Plaza | Arlington, VA (G) | 1990 | 396 | — | 87,821,045 | 1,017,095 | — | 88,838,140 | 88,838,140 | (7,919,119 | ) | 80,919,021 | — | ||||||||||||||||||||||||||||||
Cove at Boynton Beach I | Boynton Beach, FL | 1996 | 252 | 12,600,000 | 31,469,651 | 4,284,433 | 12,600,000 | 35,754,084 | 48,354,084 | (13,936,676 | ) | 34,417,408 | — | ||||||||||||||||||||||||||||||
Cove at Boynton Beach II | Boynton Beach, FL | 1998 | 296 | 14,800,000 | 37,874,719 | — | 14,800,000 | 37,874,719 | 52,674,719 | (13,512,371 | ) | 39,162,348 | — | ||||||||||||||||||||||||||||||
Creekside (San Mateo) | San Mateo, CA | 1985 | 192 | 9,606,600 | 21,193,232 | 3,381,227 | 9,606,600 | 24,574,459 | 34,181,059 | (12,799,939 | ) | 21,381,120 | — | ||||||||||||||||||||||||||||||
Cronins Landing | Waltham, MA (G) | 1998 | 281 | 32,300,000 | 85,723,236 | 203,018 | 32,300,000 | 85,926,254 | 118,226,254 | (6,736,216 | ) | 111,490,038 | — | ||||||||||||||||||||||||||||||
Crowntree Lakes | Orlando, FL | 2008 | 352 | 12,009,630 | 44,407,977 | 394,460 | 12,009,630 | 44,802,437 | 56,812,067 | (10,871,421 | ) | 45,940,646 | — | ||||||||||||||||||||||||||||||
Crystal Place | Arlington, VA | 1986 | 181 | 17,200,000 | 48,253,858 | 132,258 | 17,200,000 | 48,386,116 | 65,586,116 | (3,700,423 | ) | 61,885,693 | — | ||||||||||||||||||||||||||||||
Cupertino | Cupertino, CA | 1998 | 311 | 40,400,000 | 96,638,206 | 128,241 | 40,400,000 | 96,766,447 | 137,166,447 | (7,012,730 | ) | 130,153,717 | — | ||||||||||||||||||||||||||||||
Cypress Lake at Waterford | Orlando, FL | 2001 | 316 | 7,000,000 | 27,654,816 | 2,156,145 | 7,000,000 | 29,810,961 | 36,810,961 | (11,172,993 | ) | 25,637,968 | — | ||||||||||||||||||||||||||||||
Dartmouth Woods | Lakewood, CO | 1990 | 201 | 1,609,800 | 10,832,754 | 2,301,254 | 1,609,800 | 13,134,008 | 14,743,808 | (7,965,913 | ) | 6,777,895 | — | ||||||||||||||||||||||||||||||
Dean Estates | Taunton, MA | 1984 | 58 | 498,080 | 3,329,560 | 759,777 | 498,080 | 4,089,337 | 4,587,417 | (2,124,869 | ) | 2,462,548 | — | ||||||||||||||||||||||||||||||
Deerwood (Corona) | Corona, CA | 1992 | 316 | 4,742,200 | 20,272,892 | 4,232,556 | 4,742,200 | 24,505,448 | 29,247,648 | (14,569,786 | ) | 14,677,862 | — | ||||||||||||||||||||||||||||||
Del Mar Heights | San Diego, CA | 1986 | 168 | 15,100,000 | 41,147,185 | 141,192 | 15,100,000 | 41,288,377 | 56,388,377 | (3,080,440 | ) | 53,307,937 | — | ||||||||||||||||||||||||||||||
DuPont Circle | Washington, D.C. (G) | 1961 | 120 | 13,500,000 | 27,120,388 | 244,693 | 13,500,000 | 27,365,081 | 40,865,081 | (2,700,714 | ) | 38,164,367 | — | ||||||||||||||||||||||||||||||
Eagle Canyon | Chino Hills, CA | 1985 | 252 | 1,808,900 | 16,274,361 | 7,191,652 | 1,808,900 | 23,466,013 | 25,274,913 | (14,038,267 | ) | 11,236,646 | — | ||||||||||||||||||||||||||||||
Edgemont at Bethesda Metro | Bethesda, MD | 1989 | 122 | 13,092,552 | 43,907,448 | 261,029 | 13,092,552 | 44,168,477 | 57,261,029 | (5,082,748 | ) | 52,178,281 | — | ||||||||||||||||||||||||||||||
Emerald Park | Dublin, CA | 2000 | 324 | 25,900,000 | 84,551,331 | 128,390 | 25,900,000 | 84,679,721 | 110,579,721 | (6,337,254 | ) | 104,242,467 | — | ||||||||||||||||||||||||||||||
Emerson Place | Boston, MA (G) | 1962 | 444 | 14,855,000 | 57,566,636 | 16,265,605 | 14,855,000 | 73,832,241 | 88,687,241 | (44,668,129 | ) | 44,019,112 | — | ||||||||||||||||||||||||||||||
Emeryville | Emeryville, CA | 1994 | 261 | 12,300,000 | 61,845,626 | 419,601 | 12,300,000 | 62,265,227 | 74,565,227 | (4,686,215 | ) | 69,879,012 | — | ||||||||||||||||||||||||||||||
Encinitas | Encinitas, CA (G) | 2002 | 120 | 12,000,000 | 29,419,415 | 82,422 | 12,000,000 | 29,501,837 | 41,501,837 | (2,385,500 | ) | 39,116,337 | — | ||||||||||||||||||||||||||||||
Enclave at Waterways | Deerfield Beach, FL | 1998 | 300 | 15,000,000 | 33,194,576 | 1,855,969 | 15,000,000 | 35,050,545 | 50,050,545 | (12,392,429 | ) | 37,658,116 | — | ||||||||||||||||||||||||||||||
Enclave at Winston Park | Coconut Creek, FL | 1995 | 278 | 5,560,000 | 19,939,324 | 4,248,969 | 5,560,000 | 24,188,293 | 29,748,293 | (10,417,597 | ) | 19,330,696 | — | ||||||||||||||||||||||||||||||
Encore at Sherman Oaks, The | Sherman Oaks, CA | 1988 | 174 | 8,700,000 | 25,446,003 | 684,532 | 8,700,000 | 26,130,535 | 34,830,535 | (3,889,921 | ) | 30,940,614 | — | ||||||||||||||||||||||||||||||
Estates at Wellington Green | Wellington, FL | 2003 | 400 | 20,000,000 | 64,790,850 | 2,259,739 | 20,000,000 | 67,050,589 | 87,050,589 | (22,638,702 | ) | 64,411,887 | — | ||||||||||||||||||||||||||||||
Eye Street | Washington, D.C. | (F) | — | 11,771,446 | 6,095,393 | — | 11,771,446 | 6,095,393 | 17,866,839 | — | 17,866,839 | — | |||||||||||||||||||||||||||||||
Fox Hill Apartments | Enfield, CT | 1974 | 168 | 1,129,018 | 7,547,256 | 1,859,467 | 1,129,018 | 9,406,723 | 10,535,741 | (4,655,719 | ) | 5,880,022 | — | ||||||||||||||||||||||||||||||
Fremont Center | Fremont, CA (G) | 2002 | 322 | 25,800,000 | 79,290,493 | 240,019 | 25,800,000 | 79,530,512 | 105,330,512 | (5,413,886 | ) | 99,916,626 | — | ||||||||||||||||||||||||||||||
Gables Grand Plaza | Coral Gables, FL (G) | 1998 | 195 | — | 44,601,000 | 7,018,667 | — | 51,619,667 | 51,619,667 | (18,748,222 | ) | 32,871,445 | — | ||||||||||||||||||||||||||||||
Gallery, The | Hermosa Beach, CA | 1971 | 169 | 18,144,000 | 46,567,941 | 2,098,129 | 18,144,000 | 48,666,070 | 66,810,070 | (14,889,140 | ) | 51,920,930 | — | ||||||||||||||||||||||||||||||
Gatehouse at Pine Lake | Pembroke Pines, FL | 1990 | 296 | 1,896,600 | 17,070,795 | 6,124,047 | 1,896,600 | 23,194,842 | 25,091,442 | (13,330,823 | ) | 11,760,619 | — | ||||||||||||||||||||||||||||||
Gatehouse on the Green | Plantation, FL | 1990 | 312 | 2,228,200 | 20,056,270 | 7,677,923 | 2,228,200 | 27,734,193 | 29,962,393 | (16,357,389 | ) | 13,605,004 | — | ||||||||||||||||||||||||||||||
Gates of Redmond | Redmond, WA | 1979 | 180 | 2,306,100 | 12,064,015 | 4,903,326 | 2,306,100 | 16,967,341 | 19,273,441 | (9,870,573 | ) | 9,402,868 | — | ||||||||||||||||||||||||||||||
Geary Court Yard | San Francisco, CA | 1990 | 164 | 1,722,400 | 15,471,429 | 2,672,731 | 1,722,400 | 18,144,160 | 19,866,560 | (10,311,127 | ) | 9,555,433 | — | ||||||||||||||||||||||||||||||
Glen Meadow | Franklin, MA | 1971 | 288 | 2,339,330 | 16,133,588 | 3,870,079 | 2,339,330 | 20,003,667 | 22,342,997 | (10,599,550 | ) | 11,743,447 | — | ||||||||||||||||||||||||||||||
Glendale | Glendale, CA | 1988 | 264 | — | 68,325,277 | 267,514 | — | 68,592,791 | 68,592,791 | (4,938,308 | ) | 63,654,483 | — | ||||||||||||||||||||||||||||||
Governors Green | Bowie, MD | 1999 | 478 | 19,845,000 | 73,335,916 | 1,157,259 | 19,845,000 | 74,493,175 | 94,338,175 | (20,664,462 | ) | 73,673,713 | — | ||||||||||||||||||||||||||||||
Greenfield Village | Rocky Hill , CT | 1965 | 151 | 911,534 | 6,093,418 | 723,069 | 911,534 | 6,816,487 | 7,728,021 | (3,383,217 | ) | 4,344,804 | — | ||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/13 | ||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Date of Construction | Units (H) | Land | Building & Fixtures | Building & Fixtures | Land | Building & Fixtures (A) | Total (B) | Accumulated Depreciation (C) | Investment in Real Estate, Net at 12/31/13 (B) | Encumbrances | |||||||||||||||||||||||||||||||
Greenwood Park | Centennial, CO | 1994 | 291 | 4,365,000 | 38,372,440 | 1,900,765 | 4,365,000 | 40,273,205 | 44,638,205 | (11,821,792 | ) | 32,816,413 | — | ||||||||||||||||||||||||||||||
Greenwood Plaza | Centennial, CO | 1996 | 266 | 3,990,000 | 35,846,708 | 2,296,465 | 3,990,000 | 38,143,173 | 42,133,173 | (11,411,269 | ) | 30,721,904 | — | ||||||||||||||||||||||||||||||
Hacienda | Pleasanton, CA | 2000 | 540 | 43,200,000 | 129,637,659 | 203,048 | 43,200,000 | 129,840,707 | 173,040,707 | (10,178,767 | ) | 162,861,940 | — | ||||||||||||||||||||||||||||||
Hamilton Villas | Beverly Hills, CA | 1990 | 35 | 7,772,000 | 16,864,269 | 1,372,560 | 7,772,000 | 18,236,829 | 26,008,829 | (4,434,046 | ) | 21,574,783 | — | ||||||||||||||||||||||||||||||
Hammocks Place | Miami, FL | 1986 | 296 | 319,180 | 12,513,467 | 4,353,249 | 319,180 | 16,866,716 | 17,185,896 | (11,895,336 | ) | 5,290,560 | — | ||||||||||||||||||||||||||||||
Hampshire Place | Los Angeles, CA | 1989 | 259 | 10,806,000 | 30,335,330 | 3,107,298 | 10,806,000 | 33,442,628 | 44,248,628 | (11,716,751 | ) | 32,531,877 | — | ||||||||||||||||||||||||||||||
Harbor Steps | Seattle, WA (G) | 2000 | 758 | 59,390,179 | 158,829,432 | 12,492,799 | 59,390,179 | 171,322,231 | 230,712,410 | (53,500,328 | ) | 177,212,082 | — | ||||||||||||||||||||||||||||||
Heritage Ridge | Lynwood, WA | 1999 | 197 | 6,895,000 | 18,983,597 | 750,513 | 6,895,000 | 19,734,110 | 26,629,110 | (7,407,674 | ) | 19,221,436 | — | ||||||||||||||||||||||||||||||
Heron Pointe | Boynton Beach, FL | 1989 | 192 | 1,546,700 | 7,774,676 | 2,385,724 | 1,546,700 | 10,160,400 | 11,707,100 | (6,263,951 | ) | 5,443,149 | — | ||||||||||||||||||||||||||||||
High Meadow | Ellington, CT | 1975 | 100 | 583,679 | 3,901,774 | 1,148,051 | 583,679 | 5,049,825 | 5,633,504 | (2,437,167 | ) | 3,196,337 | — | ||||||||||||||||||||||||||||||
Highland Glen | Westwood, MA | 1979 | 180 | 2,229,095 | 16,828,153 | 2,709,281 | 2,229,095 | 19,537,434 | 21,766,529 | (9,457,763 | ) | 12,308,766 | — | ||||||||||||||||||||||||||||||
Highland Glen II | Westwood, MA | 2007 | 102 | — | 19,875,857 | 144,851 | — | 20,020,708 | 20,020,708 | (5,078,255 | ) | 14,942,453 | — | ||||||||||||||||||||||||||||||
Highlands at Cherry Hill | Cherry Hills, NJ | 2002 | 170 | 6,800,000 | 21,459,108 | 804,080 | 6,800,000 | 22,263,188 | 29,063,188 | (7,214,459 | ) | 21,848,729 | — | ||||||||||||||||||||||||||||||
Highlands at South Plainfield | South Plainfield, NJ | 2000 | 252 | 10,080,000 | 37,526,912 | 929,736 | 10,080,000 | 38,456,648 | 48,536,648 | (11,862,100 | ) | 36,674,548 | — | ||||||||||||||||||||||||||||||
Hikari | Los Angeles, CA (G) | 2007 | 128 | 9,435,760 | 32,564,240 | 153,706 | 9,435,760 | 32,717,946 | 42,153,706 | (4,101,964 | ) | 38,051,742 | — | ||||||||||||||||||||||||||||||
Hudson Crossing | New York, NY (G) | 2003 | 259 | 23,420,000 | 69,977,699 | 1,630,936 | 23,420,000 | 71,608,635 | 95,028,635 | (23,456,649 | ) | 71,571,986 | — | ||||||||||||||||||||||||||||||
Hudson Pointe | Jersey City, NJ | 2003 | 182 | 5,350,000 | 41,114,074 | 2,100,163 | 5,350,000 | 43,214,237 | 48,564,237 | (15,065,373 | ) | 33,498,864 | — | ||||||||||||||||||||||||||||||
Hunt Club II | Charlotte, NC | (F) | — | 100,000 | — | — | 100,000 | — | 100,000 | — | 100,000 | — | |||||||||||||||||||||||||||||||
Huntington Park | Everett, WA | 1991 | 381 | 1,597,500 | 14,367,864 | 4,786,996 | 1,597,500 | 19,154,860 | 20,752,360 | (13,271,353 | ) | 7,481,007 | — | ||||||||||||||||||||||||||||||
Jia (fka Chinatown Gateway) | Los Angeles, CA (G) | (F) | — | 14,791,831 | 71,969,127 | — | 14,791,831 | 71,969,127 | 86,760,958 | — | 86,760,958 | — | |||||||||||||||||||||||||||||||
Kendall Square | Cambridge, MA | 1998 | 186 | 23,300,000 | 78,968,911 | 579,275 | 23,300,000 | 79,548,186 | 102,848,186 | (5,491,559 | ) | 97,356,627 | — | ||||||||||||||||||||||||||||||
Kenwood Mews | Burbank, CA | 1991 | 141 | 14,100,000 | 24,662,883 | 2,620,056 | 14,100,000 | 27,282,939 | 41,382,939 | (8,366,151 | ) | 33,016,788 | — | ||||||||||||||||||||||||||||||
Kings Colony (FL) | Miami, FL | 1986 | 480 | 19,200,000 | 48,379,586 | 4,274,318 | 19,200,000 | 52,653,904 | 71,853,904 | (18,372,874 | ) | 53,481,030 | — | ||||||||||||||||||||||||||||||
Lake Buena Vista Combined | Orlando, FL | 2000/2002 | 672 | 23,520,000 | 75,068,206 | 4,640,640 | 23,520,000 | 79,708,846 | 103,228,846 | (25,931,634 | ) | 77,297,212 | — | ||||||||||||||||||||||||||||||
Landings at Pembroke Lakes | Pembroke Pines, FL | 1989 | 358 | 17,900,000 | 24,460,989 | 5,339,378 | 17,900,000 | 29,800,367 | 47,700,367 | (11,826,369 | ) | 35,873,998 | — | ||||||||||||||||||||||||||||||
Landings at Port Imperial | W. New York, NJ | 1999 | 276 | 27,246,045 | 37,741,050 | 7,207,921 | 27,246,045 | 44,948,971 | 72,195,016 | (21,242,906 | ) | 50,952,110 | — | ||||||||||||||||||||||||||||||
Legacy at Highlands Ranch | Highlands Ranch, CO | 1999 | 422 | 6,330,000 | 37,557,013 | 2,438,295 | 6,330,000 | 39,995,308 | 46,325,308 | (14,087,855 | ) | 32,237,453 | — | ||||||||||||||||||||||||||||||
Lincoln Heights | Quincy, MA | 1991 | 336 | 5,928,400 | 33,595,262 | 11,206,707 | 5,928,400 | 44,801,969 | 50,730,369 | (25,653,015 | ) | 25,077,354 | — | ||||||||||||||||||||||||||||||
Lofts 590 | Arlington, VA | 2005 | 212 | 20,100,000 | 68,361,638 | 44,726 | 20,100,000 | 68,406,364 | 88,506,364 | (4,729,574 | ) | 83,776,790 | — | ||||||||||||||||||||||||||||||
Longacre House | New York, NY (G) | 2000 | 293 | 73,170,045 | 53,962,510 | 1,179,807 | 73,170,045 | 55,142,317 | 128,312,362 | (14,874,367 | ) | 113,437,995 | — | ||||||||||||||||||||||||||||||
Longfellow Place | Boston, MA (G) | 1975 | 710 | 53,164,160 | 185,928,608 | 77,215,801 | 53,164,160 | 263,144,409 | 316,308,569 | (131,267,364 | ) | 185,041,205 | — | ||||||||||||||||||||||||||||||
Mantena | New York, NY (G) | 2012 | 98 | 22,346,513 | 61,501,158 | 168,161 | 22,346,513 | 61,669,319 | 84,015,832 | (4,731,391 | ) | 79,284,441 | — | ||||||||||||||||||||||||||||||
Marina Del Rey | Marina Del Rey, CA | 1973 | 623 | — | 169,967,439 | 1,355,945 | — | 171,323,384 | 171,323,384 | (14,625,920 | ) | 156,697,464 | — | ||||||||||||||||||||||||||||||
Marquessa | Corona Hills, CA | 1992 | 336 | 6,888,500 | 21,604,584 | 3,037,350 | 6,888,500 | 24,641,934 | 31,530,434 | (14,418,836 | ) | 17,111,598 | — | ||||||||||||||||||||||||||||||
Martine, The | Bellevue, WA | 1984 | 67 | 3,200,000 | 9,616,264 | 2,722,147 | 3,200,000 | 12,338,411 | 15,538,411 | (4,098,923 | ) | 11,439,488 | — | ||||||||||||||||||||||||||||||
Milano Lofts | Los Angeles, CA (G) | 1925/2006 | 99 | 8,125,216 | 27,378,784 | 268,483 | 8,125,216 | 27,647,267 | 35,772,483 | (2,394,637 | ) | 33,377,846 | — | ||||||||||||||||||||||||||||||
Millikan | Irvine, CA | (F) | — | 10,743,027 | 6,214,141 | — | 10,743,027 | 6,214,141 | 16,957,168 | — | 16,957,168 | — | |||||||||||||||||||||||||||||||
Mission Verde, LLC | San Jose, CA | 1986 | 108 | 5,190,700 | 9,679,109 | 3,349,695 | 5,190,700 | 13,028,804 | 18,219,504 | (7,779,026 | ) | 10,440,478 | — | ||||||||||||||||||||||||||||||
Mosaic at Largo Station | Hyattsville, MD | 2008 | 242 | 4,120,800 | 42,477,297 | 490,649 | 4,120,800 | 42,967,946 | 47,088,746 | (9,970,232 | ) | 37,118,514 | — | ||||||||||||||||||||||||||||||
Mountain View | Mountain View, CA | 1965 | 180 | 27,000,000 | 33,338,325 | 164,351 | 27,000,000 | 33,502,676 | 60,502,676 | (3,080,868 | ) | 57,421,808 | — | ||||||||||||||||||||||||||||||
Mozaic at Union Station | Los Angeles, CA | 2007 | 272 | 8,500,000 | 52,529,446 | 1,325,352 | 8,500,000 | 53,854,798 | 62,354,798 | (14,841,048 | ) | 47,513,750 | — | ||||||||||||||||||||||||||||||
Murray Hill | New York, NY (G) | 1974 | 270 | 75,800,000 | 103,623,712 | 579,164 | 75,800,000 | 104,202,876 | 180,002,876 | (10,741,983 | ) | 169,260,893 | — | ||||||||||||||||||||||||||||||
Northglen | Valencia, CA | 1988 | 234 | 9,360,000 | 20,778,553 | 1,969,605 | 9,360,000 | 22,748,158 | 32,108,158 | (10,747,805 | ) | 21,360,353 | — | ||||||||||||||||||||||||||||||
Northlake (MD) | Germantown, MD | 1985 | 304 | 15,000,000 | 23,142,302 | 10,244,672 | 15,000,000 | 33,386,974 | 48,386,974 | (15,031,335 | ) | 33,355,639 | — | ||||||||||||||||||||||||||||||
Northridge | Pleasant Hill, CA | 1974 | 221 | 5,527,800 | 14,691,705 | 9,851,592 | 5,527,800 | 24,543,297 | 30,071,097 | (13,695,958 | ) | 16,375,139 | — | ||||||||||||||||||||||||||||||
Oak Mill I | Germantown, MD | 1984 | 208 | 10,000,000 | 13,155,522 | 7,562,822 | 10,000,000 | 20,718,344 | 30,718,344 | (9,644,381 | ) | 21,073,963 | — | ||||||||||||||||||||||||||||||
Oak Park North | Agoura Hills, CA | 1990 | 220 | 1,706,900 | 15,362,666 | 4,040,864 | 1,706,900 | 19,403,530 | 21,110,430 | (11,981,703 | ) | 9,128,727 | — | ||||||||||||||||||||||||||||||
Oak Park South | Agoura Hills, CA | 1989 | 224 | 1,683,800 | 15,154,608 | 4,089,342 | 1,683,800 | 19,243,950 | 20,927,750 | (11,943,140 | ) | 8,984,610 | — | ||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/13 | ||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Date of Construction | Units (H) | Land | Building & Fixtures | Building & Fixtures | Land | Building & Fixtures (A) | Total (B) | Accumulated Depreciation (C) | Investment in Real Estate, Net at 12/31/13 (B) | Encumbrances | |||||||||||||||||||||||||||||||
Oaks at Falls Church | Falls Church, VA | 1966 | 176 | 20,240,000 | 20,152,616 | 3,779,190 | 20,240,000 | 23,931,806 | 44,171,806 | (8,672,588 | ) | 35,499,218 | — | ||||||||||||||||||||||||||||||
Oakwood Boston | Boston, MA (G) | 1901 | 94 | 22,200,000 | 28,934,606 | 102,228 | 22,200,000 | 29,036,834 | 51,236,834 | (1,901,519 | ) | 49,335,315 | — | ||||||||||||||||||||||||||||||
Oakwood Crystal City | Arlington, VA | 1987 | 162 | 15,400,000 | 35,735,963 | 63,451 | 15,400,000 | 35,799,414 | 51,199,414 | (2,172,022 | ) | 49,027,392 | — | ||||||||||||||||||||||||||||||
Oakwood Marina Del Rey | Marina Del Rey, CA | 1969 | 597 | — | 121,554,078 | 597,665 | — | 122,151,743 | 122,151,743 | (8,733,929 | ) | 113,417,814 | — | ||||||||||||||||||||||||||||||
Oasis at Delray Beach I | Delray Beach, FL | 1999 | 196 | 5,900,000 | 25,310,444 | 298,806 | 5,900,000 | 25,609,250 | 31,509,250 | (2,359,051 | ) | 29,150,199 | — | ||||||||||||||||||||||||||||||
Oasis at Delray Beach II | Delray Beach, FL | 2013 | 128 | 3,840,000 | 17,490,066 | 1,190 | 3,840,000 | 17,491,256 | 21,331,256 | — | 21,331,256 | — | |||||||||||||||||||||||||||||||
Ocean Crest | Solana Beach, CA | 1986 | 146 | 5,111,200 | 11,910,438 | 2,435,992 | 5,111,200 | 14,346,430 | 19,457,630 | (8,131,799 | ) | 11,325,831 | — | ||||||||||||||||||||||||||||||
Ocean Walk | Key West, FL | 1990 | 297 | 2,838,749 | 25,545,009 | 3,993,374 | 2,838,749 | 29,538,383 | 32,377,132 | (16,842,336 | ) | 15,534,796 | — | ||||||||||||||||||||||||||||||
Olde Redmond Place | Redmond, WA | 1986 | 192 | 4,807,100 | 14,126,038 | 4,373,660 | 4,807,100 | 18,499,698 | 23,306,798 | (11,043,147 | ) | 12,263,651 | — | ||||||||||||||||||||||||||||||
One Henry Adams | San Francisco, CA | (F) | — | 30,952,393 | 3,124,964 | — | 30,952,393 | 3,124,964 | 34,077,357 | — | 34,077,357 | — | |||||||||||||||||||||||||||||||
Orchard Ridge | Lynnwood, WA | 1988 | 104 | 480,600 | 4,372,033 | 1,533,264 | 480,600 | 5,905,297 | 6,385,897 | (3,964,230 | ) | 2,421,667 | — | ||||||||||||||||||||||||||||||
Palm Trace Landings | Davie, FL | 1995 | 768 | 38,400,000 | 105,693,432 | 4,031,375 | 38,400,000 | 109,724,807 | 148,124,807 | (36,189,802 | ) | 111,935,005 | — | ||||||||||||||||||||||||||||||
Parc 77 | New York, NY (G) | 1903 | 137 | 40,504,000 | 18,025,679 | 4,828,502 | 40,504,000 | 22,854,181 | 63,358,181 | (8,404,862 | ) | 54,953,319 | — | ||||||||||||||||||||||||||||||
Parc Cameron | New York, NY (G) | 1927 | 166 | 37,600,000 | 9,855,597 | 5,764,055 | 37,600,000 | 15,619,652 | 53,219,652 | (7,133,172 | ) | 46,086,480 | — | ||||||||||||||||||||||||||||||
Parc Coliseum | New York, NY (G) | 1910 | 177 | 52,654,000 | 23,045,751 | 7,619,769 | 52,654,000 | 30,665,520 | 83,319,520 | (11,481,750 | ) | 71,837,770 | — | ||||||||||||||||||||||||||||||
Parc East Towers | New York, NY (G) | 1977 | 324 | 102,163,000 | 108,989,402 | 6,956,519 | 102,163,000 | 115,945,921 | 218,108,921 | (31,853,462 | ) | 186,255,459 | — | ||||||||||||||||||||||||||||||
Park at Turtle Run, The | Coral Springs, FL | 2001 | 257 | 15,420,000 | 36,064,629 | 1,229,572 | 15,420,000 | 37,294,201 | 52,714,201 | (13,204,540 | ) | 39,509,661 | — | ||||||||||||||||||||||||||||||
Park Connecticut | Washington, D.C. | 2000 | 142 | 13,700,000 | 59,460,861 | 93,329 | 13,700,000 | 59,554,190 | 73,254,190 | (3,914,535 | ) | 69,339,655 | — | ||||||||||||||||||||||||||||||
Park West (CA) | Los Angeles, CA | 1987/1990 | 444 | 3,033,500 | 27,302,383 | 7,330,685 | 3,033,500 | 34,633,068 | 37,666,568 | (21,889,796 | ) | 15,776,772 | — | ||||||||||||||||||||||||||||||
Parkfield | Denver, CO | 2000 | 476 | 8,330,000 | 28,667,618 | 3,057,365 | 8,330,000 | 31,724,983 | 40,054,983 | (14,820,148 | ) | 25,234,835 | — | ||||||||||||||||||||||||||||||
Parkside | Union City, CA | 1979 | 208 | 6,246,700 | 11,827,453 | 3,833,813 | 6,246,700 | 15,661,266 | 21,907,966 | (9,486,679 | ) | 12,421,287 | — | ||||||||||||||||||||||||||||||
Pegasus | Los Angeles, CA (G) | 1949/2003 | 322 | 18,094,052 | 81,905,948 | 2,015,760 | 18,094,052 | 83,921,708 | 102,015,760 | (12,457,511 | ) | 89,558,249 | — | ||||||||||||||||||||||||||||||
Pentagon City | Arlington, VA (G) | 1990 | 298 | 28,300,000 | 79,387,601 | 145,906 | 28,300,000 | 79,533,507 | 107,833,507 | (6,012,255 | ) | 101,821,252 | — | ||||||||||||||||||||||||||||||
Phillips Park | Wellesley, MA | 1988 | 49 | 816,922 | 5,460,955 | 1,038,416 | 816,922 | 6,499,371 | 7,316,293 | (3,280,138 | ) | 4,036,155 | — | ||||||||||||||||||||||||||||||
Playa Del Rey | Playa Del Rey, CA | 2004 | 354 | 60,900,000 | 90,085,898 | 407,504 | 60,900,000 | 90,493,402 | 151,393,402 | (7,145,468 | ) | 144,247,934 | — | ||||||||||||||||||||||||||||||
Playa Pacifica | Hermosa Beach, CA | 1972 | 285 | 35,100,000 | 33,473,822 | 8,011,904 | 35,100,000 | 41,485,726 | 76,585,726 | (16,371,788 | ) | 60,213,938 | — | ||||||||||||||||||||||||||||||
Portofino | Chino Hills, CA | 1989 | 176 | 3,572,400 | 14,660,994 | 3,352,092 | 3,572,400 | 18,013,086 | 21,585,486 | (9,926,077 | ) | 11,659,409 | — | ||||||||||||||||||||||||||||||
Portofino (Val) | Valencia, CA | 1989 | 216 | 8,640,000 | 21,487,126 | 2,646,783 | 8,640,000 | 24,133,909 | 32,773,909 | (11,529,488 | ) | 21,244,421 | — | ||||||||||||||||||||||||||||||
Portside Towers | Jersey City, NJ (G) | 1992-1997 | 527 | 22,487,006 | 96,842,913 | 18,435,833 | 22,487,006 | 115,278,746 | 137,765,752 | (61,617,346 | ) | 76,148,406 | — | ||||||||||||||||||||||||||||||
Potrero | San Francisco, CA | (F) | — | 40,830,011 | 2,683,265 | — | 40,830,011 | 2,683,265 | 43,513,276 | — | 43,513,276 | — | |||||||||||||||||||||||||||||||
Preserve at Deer Creek | Deerfield Beach, FL | 1997 | 540 | 13,500,000 | 60,011,208 | 9,643,309 | 13,500,000 | 69,654,517 | 83,154,517 | (24,599,996 | ) | 58,554,521 | — | ||||||||||||||||||||||||||||||
Prime, The | Arlington, VA | 2002 | 256 | 32,000,000 | 64,436,539 | 965,087 | 32,000,000 | 65,401,626 | 97,401,626 | (19,038,929 | ) | 78,362,697 | — | ||||||||||||||||||||||||||||||
Promenade at Aventura | Aventura, FL | 1995 | 296 | 13,320,000 | 30,353,748 | 6,552,908 | 13,320,000 | 36,906,656 | 50,226,656 | (16,970,116 | ) | 33,256,540 | — | ||||||||||||||||||||||||||||||
Promenade at Town Center I | Valencia, CA | 2001 | 294 | 14,700,000 | 35,390,279 | 2,206,279 | 14,700,000 | 37,596,558 | 52,296,558 | (14,095,067 | ) | 38,201,491 | — | ||||||||||||||||||||||||||||||
Promenade at Town Center II | Valencia, CA | 2001 | 270 | 13,500,000 | 34,405,636 | 1,985,501 | 13,500,000 | 36,391,137 | 49,891,137 | (13,530,181 | ) | 36,360,956 | — | ||||||||||||||||||||||||||||||
Promenade at Wyndham Lakes | Coral Springs, FL | 1998 | 332 | 6,640,000 | 26,743,760 | 5,005,200 | 6,640,000 | 31,748,960 | 38,388,960 | (14,987,283 | ) | 23,401,677 | — | ||||||||||||||||||||||||||||||
Promenade Terrace | Corona, CA | 1990 | 330 | 2,272,800 | 20,546,289 | 5,691,127 | 2,272,800 | 26,237,416 | 28,510,216 | (16,670,485 | ) | 11,839,731 | — | ||||||||||||||||||||||||||||||
Quarry Hills | Quincy, MA | 2006 | 316 | 26,900,000 | 84,983,599 | 140,458 | 26,900,000 | 85,124,057 | 112,024,057 | (6,865,171 | ) | 105,158,886 | — | ||||||||||||||||||||||||||||||
Red 160 (fka Redmond Way) | Redmond , WA (G) | 2011 | 250 | 15,546,376 | 65,320,010 | 504,378 | 15,546,376 | 65,824,388 | 81,370,764 | (6,551,308 | ) | 74,819,456 | — | ||||||||||||||||||||||||||||||
Red Road Commons | Miami, FL (G) | 2009 | 404 | 27,383,547 | 99,656,440 | 1,497,545 | 27,383,547 | 101,153,985 | 128,537,532 | (14,269,702 | ) | 114,267,830 | — | ||||||||||||||||||||||||||||||
Redmond Court | Bellevue, WA | 1977 | 206 | 10,300,000 | 33,713,933 | 294,313 | 10,300,000 | 34,008,246 | 44,308,246 | (2,592,517 | ) | 41,715,729 | — | ||||||||||||||||||||||||||||||
Regency Palms | Huntington Beach, CA | 1969 | 310 | 1,857,400 | 16,713,254 | 5,247,158 | 1,857,400 | 21,960,412 | 23,817,812 | (14,160,070 | ) | 9,657,742 | — | ||||||||||||||||||||||||||||||
Renaissance Villas | Berkeley, CA (G) | 1998 | 34 | 2,458,000 | 4,542,000 | 105,946 | 2,458,000 | 4,647,946 | 7,105,946 | (1,193,952 | ) | 5,911,994 | — | ||||||||||||||||||||||||||||||
Reserve at Ashley Lake | Boynton Beach, FL | 1990 | 440 | 3,520,400 | 23,332,494 | 6,605,628 | 3,520,400 | 29,938,122 | 33,458,522 | (17,387,775 | ) | 16,070,747 | — | ||||||||||||||||||||||||||||||
Reserve at Town Center II (WA) | Mill Creek, WA | 2009 | 100 | 4,310,417 | 17,165,142 | 64,229 | 4,310,417 | 17,229,371 | 21,539,788 | (2,513,872 | ) | 19,025,916 | — | ||||||||||||||||||||||||||||||
Reserve at Town Center III | Mill Creek, WA | (F) | — | 2,089,388 | 16,339,822 | — | 2,089,388 | 16,339,822 | 18,429,210 | — | 18,429,210 | — | |||||||||||||||||||||||||||||||
Residences at Bayview | Pompano Beach, FL (G) | 2004 | 225 | 5,783,545 | 39,334,455 | 894,691 | 5,783,545 | 40,229,146 | 46,012,691 | (7,182,488 | ) | 38,830,203 | — | ||||||||||||||||||||||||||||||
Residences at Westgate I (fka Westgate II) | Pasadena, CA | (F) | — | 17,859,785 | 83,708,925 | — | 17,859,785 | 83,708,925 | 101,568,710 | — | 101,568,710 | — | |||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/13 | ||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Date of Construction | Units (H) | Land | Building & Fixtures | Building & Fixtures | Land | Building & Fixtures (A) | Total (B) | Accumulated Depreciation (C) | Investment in Real Estate, Net at 12/31/13 (B) | Encumbrances | |||||||||||||||||||||||||||||||
Residences at Westgate II (fka Westgate III) | Pasadena, CA | (F) | — | 12,118,061 | 19,127,918 | — | 12,118,061 | 19,127,918 | 31,245,979 | — | 31,245,979 | — | |||||||||||||||||||||||||||||||
Reunion at Redmond Ridge (fka Redmond Ridge) | Redmond, WA | 2008 | 321 | 6,975,705 | 46,175,001 | 224,446 | 6,975,705 | 46,399,447 | 53,375,152 | (9,881,175 | ) | 43,493,977 | — | ||||||||||||||||||||||||||||||
Rianna I | Seattle, WA (G) | 2000 | 78 | 2,268,160 | 14,864,482 | 266,542 | 2,268,160 | 15,131,024 | 17,399,184 | (3,207,605 | ) | 14,191,579 | — | ||||||||||||||||||||||||||||||
Ridgewood Village I&II | San Diego, CA | 1997 | 408 | 11,809,500 | 34,004,048 | 4,287,842 | 11,809,500 | 38,291,890 | 50,101,390 | (18,480,854 | ) | 31,620,536 | — | ||||||||||||||||||||||||||||||
Rincon Hill | San Francisco, CA | (F) | — | 42,000,000 | 7,574,181 | — | 42,000,000 | 7,574,181 | 49,574,181 | — | 49,574,181 | — | |||||||||||||||||||||||||||||||
Riva Terra I | Redwood City, CA | 1986 | 304 | 34,963,355 | 85,202,482 | 628,146 | 34,963,355 | 85,830,628 | 120,793,983 | (6,684,339 | ) | 114,109,644 | — | ||||||||||||||||||||||||||||||
Riva Terra II | Redwood City, CA | 1986 | 149 | 17,136,645 | 40,832,170 | 650,300 | 17,136,645 | 41,482,470 | 58,619,115 | (3,089,614 | ) | 55,529,501 | — | ||||||||||||||||||||||||||||||
River Tower | New York, NY (G) | 1982 | 323 | 118,669,441 | 98,880,559 | 4,123,564 | 118,669,441 | 103,004,123 | 221,673,564 | (24,034,599 | ) | 197,638,965 | — | ||||||||||||||||||||||||||||||
Riverpark | Redmond, WA (G) | 2009 | 319 | 14,355,000 | 80,894,049 | 129,922 | 14,355,000 | 81,023,971 | 95,378,971 | (8,357,613 | ) | 87,021,358 | — | ||||||||||||||||||||||||||||||
Rivers Bend (CT) | Windsor, CT | 1973 | 373 | 3,325,517 | 22,573,826 | 3,026,927 | 3,325,517 | 25,600,753 | 28,926,270 | (12,625,301 | ) | 16,300,969 | — | ||||||||||||||||||||||||||||||
Riverview Condominiums | Norwalk, CT | 1991 | 92 | 2,300,000 | 7,406,730 | 2,346,640 | 2,300,000 | 9,753,370 | 12,053,370 | (5,182,720 | ) | 6,870,650 | — | ||||||||||||||||||||||||||||||
Rolling Green (Amherst) | Amherst, MA | 1970 | 204 | 1,340,702 | 8,962,317 | 3,899,396 | 1,340,702 | 12,861,713 | 14,202,415 | (7,180,118 | ) | 7,022,297 | — | ||||||||||||||||||||||||||||||
Rolling Green (Milford) | Milford, MA | 1970 | 304 | 2,012,350 | 13,452,150 | 5,371,687 | 2,012,350 | 18,823,837 | 20,836,187 | (9,832,847 | ) | 11,003,340 | — | ||||||||||||||||||||||||||||||
Rosecliff II | Quincy, MA | 2005 | 130 | 4,922,840 | 30,202,160 | 376,039 | 4,922,840 | 30,578,199 | 35,501,039 | (3,928,769 | ) | 31,572,270 | — | ||||||||||||||||||||||||||||||
Rosslyn | Arlington, VA (G) | 2003 | 314 | 31,400,000 | 109,727,825 | 67,784 | 31,400,000 | 109,795,609 | 141,195,609 | (7,664,303 | ) | 133,531,306 | — | ||||||||||||||||||||||||||||||
Sabal Palm at Lake Buena Vista | Orlando, FL | 1988 | 400 | 2,800,000 | 23,687,893 | 6,932,172 | 2,800,000 | 30,620,065 | 33,420,065 | (16,048,657 | ) | 17,371,408 | — | ||||||||||||||||||||||||||||||
Sabal Pointe | Coral Springs, FL | 1995 | 275 | 1,951,600 | 17,570,508 | 6,418,274 | 1,951,600 | 23,988,782 | 25,940,382 | (14,670,174 | ) | 11,270,208 | — | ||||||||||||||||||||||||||||||
Sage | Everett, WA | 2002 | 123 | 2,500,000 | 12,021,256 | 567,364 | 2,500,000 | 12,588,620 | 15,088,620 | (4,281,852 | ) | 10,806,768 | — | ||||||||||||||||||||||||||||||
Sakura Crossing | Los Angeles, CA (G) | 2009 | 230 | 14,641,990 | 42,858,010 | 280,897 | 14,641,990 | 43,138,907 | 57,780,897 | (6,186,384 | ) | 51,594,513 | — | ||||||||||||||||||||||||||||||
Sausalito | Sausalito, CA | 1978 | 198 | 26,000,000 | 28,714,965 | 169,663 | 26,000,000 | 28,884,628 | 54,884,628 | (3,138,534 | ) | 51,746,094 | — | ||||||||||||||||||||||||||||||
Savoy at Dayton Station I & II (fka Savoy I) | Aurora, CO | 2001 | 444 | 5,450,295 | 38,765,670 | 3,156,829 | 5,450,295 | 41,922,499 | 47,372,794 | (15,725,082 | ) | 31,647,712 | — | ||||||||||||||||||||||||||||||
Savoy at Dayton Station III (fka Savoy III) | Aurora, CO | 2012 | 168 | 659,165 | 21,271,331 | 59,151 | 659,165 | 21,330,482 | 21,989,647 | (1,512,605 | ) | 20,477,042 | — | ||||||||||||||||||||||||||||||
Scarborough Square | Rockville, MD | 1967 | 121 | 1,815,000 | 7,608,126 | 2,828,563 | 1,815,000 | 10,436,689 | 12,251,689 | (6,175,785 | ) | 6,075,904 | — | ||||||||||||||||||||||||||||||
Seventh & James | Seattle, WA | 1992 | 96 | 663,800 | 5,974,803 | 3,562,306 | 663,800 | 9,537,109 | 10,200,909 | (5,910,718 | ) | 4,290,191 | — | ||||||||||||||||||||||||||||||
Shadow Creek | Winter Springs, FL | 2000 | 280 | 6,000,000 | 21,719,768 | 2,122,402 | 6,000,000 | 23,842,170 | 29,842,170 | (9,008,244 | ) | 20,833,926 | — | ||||||||||||||||||||||||||||||
Sheffield Court | Arlington, VA | 1986 | 597 | 3,342,381 | 31,337,332 | 12,888,683 | 3,342,381 | 44,226,015 | 47,568,396 | (27,676,964 | ) | 19,891,432 | — | ||||||||||||||||||||||||||||||
Sheridan Lake Club | Dania Beach, FL | 2001 | 240 | 12,000,000 | 23,170,580 | 1,772,157 | 12,000,000 | 24,942,737 | 36,942,737 | (8,564,889 | ) | 28,377,848 | — | ||||||||||||||||||||||||||||||
Sheridan Ocean Club combined | Dania Beach, FL | 1991 | 648 | 18,313,414 | 47,091,594 | 17,044,266 | 18,313,414 | 64,135,860 | 82,449,274 | (30,116,438 | ) | 52,332,836 | — | ||||||||||||||||||||||||||||||
Skycrest | Valencia, CA | 1999 | 264 | 10,560,000 | 25,574,457 | 2,239,072 | 10,560,000 | 27,813,529 | 38,373,529 | (13,059,276 | ) | 25,314,253 | — | ||||||||||||||||||||||||||||||
Skylark | Union City, CA | 1986 | 174 | 1,781,600 | 16,731,916 | 1,914,660 | 1,781,600 | 18,646,576 | 20,428,176 | (10,171,464 | ) | 10,256,712 | — | ||||||||||||||||||||||||||||||
Skyline Terrace | Burlingame, CA | 1967 & 1987 | 138 | 16,836,000 | 35,414,000 | 3,846,309 | 16,836,000 | 39,260,309 | 56,096,309 | (6,410,921 | ) | 49,685,388 | — | ||||||||||||||||||||||||||||||
Skyline Towers | Falls Church, VA (G) | 1971 | 939 | 78,278,200 | 91,485,591 | 30,593,973 | 78,278,200 | 122,079,564 | 200,357,764 | (49,094,497 | ) | 151,263,267 | — | ||||||||||||||||||||||||||||||
Sonterra at Foothill Ranch | Foothill Ranch, CA | 1997 | 300 | 7,503,400 | 24,048,507 | 1,897,617 | 7,503,400 | 25,946,124 | 33,449,524 | (14,258,820 | ) | 19,190,704 | — | ||||||||||||||||||||||||||||||
South San Francisco | San Francisco, CA (G) | 2007 | 360 | 68,900,000 | 80,240,812 | 413,552 | 68,900,000 | 80,654,364 | 149,554,364 | (7,124,507 | ) | 142,429,857 | — | ||||||||||||||||||||||||||||||
Southwood | Palo Alto, CA | 1985 | 100 | 6,936,600 | 14,324,069 | 2,992,190 | 6,936,600 | 17,316,259 | 24,252,859 | (9,441,621 | ) | 14,811,238 | — | ||||||||||||||||||||||||||||||
Springbrook Estates | Riverside, CA | (F) | — | 18,200,000 | — | — | 18,200,000 | — | 18,200,000 | — | 18,200,000 | — | |||||||||||||||||||||||||||||||
St. Andrews at Winston Park | Coconut Creek, FL | 1997 | 284 | 5,680,000 | 19,812,090 | 4,291,946 | 5,680,000 | 24,104,036 | 29,784,036 | (10,414,453 | ) | 19,369,583 | — | ||||||||||||||||||||||||||||||
Summerset Village II | Chatsworth, CA | (F) | — | 260,646 | — | — | 260,646 | — | 260,646 | — | 260,646 | — | |||||||||||||||||||||||||||||||
Summit & Birch Hill | Farmington, CT | 1967 | 186 | 1,757,438 | 11,748,112 | 3,297,807 | 1,757,438 | 15,045,919 | 16,803,357 | (7,782,721 | ) | 9,020,636 | — | ||||||||||||||||||||||||||||||
Summit at Lake Union | Seattle, WA | 1995 -1997 | 150 | 1,424,700 | 12,852,461 | 4,247,599 | 1,424,700 | 17,100,060 | 18,524,760 | (9,836,580 | ) | 8,688,180 | — | ||||||||||||||||||||||||||||||
Tallman | Seattle, WA | (F) | — | 16,807,519 | 6,589,411 | — | 16,807,519 | 6,589,411 | 23,396,930 | — | 23,396,930 | — | |||||||||||||||||||||||||||||||
Tasman (fka Vista Montana - Residential) | San Jose, CA | (F) | — | 27,679,638 | 21,699,903 | — | 27,679,638 | 21,699,903 | 49,379,541 | — | 49,379,541 | — | |||||||||||||||||||||||||||||||
Ten23 (fka 500 West 23rd Street) | New York, NY (G) | 2011 | 111 | — | 58,794,517 | 84,180 | — | 58,878,697 | 58,878,697 | (3,920,806 | ) | 54,957,891 | — | ||||||||||||||||||||||||||||||
Terraces, The | San Francisco, CA (G) | 1975 | 117 | 14,087,610 | 16,314,151 | 602,473 | 14,087,610 | 16,916,624 | 31,004,234 | (2,524,529 | ) | 28,479,705 | — | ||||||||||||||||||||||||||||||
Third Square | Cambridge, MA (G) | 2008/2009 | 471 | 26,767,171 | 218,770,581 | 2,768,015 | 26,767,171 | 221,538,596 | 248,305,767 | (39,901,393 | ) | 208,404,374 | — | ||||||||||||||||||||||||||||||
Tortuga Bay | Orlando, FL | 2004 | 314 | 6,280,000 | 32,121,779 | 1,291,995 | 6,280,000 | 33,413,774 | 39,693,774 | (11,379,630 | ) | 28,314,144 | — | ||||||||||||||||||||||||||||||
Town Center South Commercial Tract | St. Charles, MD | (F) | — | 1,500,000 | 3,896 | — | 1,500,000 | 3,896 | 1,503,896 | — | 1,503,896 | — | |||||||||||||||||||||||||||||||
Town Square at Mark Center Phase II | Alexandria, VA | 2001 | 272 | 15,568,464 | 55,029,607 | 493,433 | 15,568,464 | 55,523,040 | 71,091,504 | (10,475,335 | ) | 60,616,169 | — | ||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/13 | ||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Date of Construction | Units (H) | Land | Building & Fixtures | Building & Fixtures | Land | Building & Fixtures (A) | Total (B) | Accumulated Depreciation (C) | Investment in Real Estate, Net at 12/31/13 (B) | Encumbrances | |||||||||||||||||||||||||||||||
Trump Place, 140 Riverside | New York, NY (G) | 2003 | 354 | 103,539,100 | 94,082,725 | 3,132,394 | 103,539,100 | 97,215,119 | 200,754,219 | (30,036,069 | ) | 170,718,150 | — | ||||||||||||||||||||||||||||||
Trump Place, 160 Riverside | New York, NY (G) | 2001 | 455 | 139,933,500 | 190,964,745 | 8,737,813 | 139,933,500 | 199,702,558 | 339,636,058 | (59,965,660 | ) | 279,670,398 | — | ||||||||||||||||||||||||||||||
Trump Place, 180 Riverside | New York, NY (G) | 1998 | 516 | 144,968,250 | 138,346,681 | 7,605,676 | 144,968,250 | 145,952,357 | 290,920,607 | (45,759,852 | ) | 245,160,755 | — | ||||||||||||||||||||||||||||||
Urbana (fka Market Street Landing) | Seattle, WA (G) | (F) | — | 12,542,418 | 64,979,196 | — | 12,542,418 | 64,979,196 | 77,521,614 | — | 77,521,614 | — | |||||||||||||||||||||||||||||||
Uwajimaya Village | Seattle, WA | 2002 | 176 | 8,800,000 | 22,188,288 | 394,029 | 8,800,000 | 22,582,317 | 31,382,317 | (7,993,609 | ) | 23,388,708 | — | ||||||||||||||||||||||||||||||
Vantage Pointe | San Diego, CA (G) | 2009 | 679 | 9,403,960 | 190,596,040 | 4,923,730 | 9,403,960 | 195,519,770 | 204,923,730 | (28,370,366 | ) | 176,553,364 | — | ||||||||||||||||||||||||||||||
Veloce | Redmond, WA (G) | 2009 | 322 | 15,322,724 | 76,176,594 | 55,022 | 15,322,724 | 76,231,616 | 91,554,340 | (4,774,971 | ) | 86,779,369 | — | ||||||||||||||||||||||||||||||
Veridian (fka Silver Spring) | Silver Spring, MD (G) | 2009 | 457 | 18,539,817 | 130,407,365 | 840,456 | 18,539,817 | 131,247,821 | 149,787,638 | (20,852,761 | ) | 128,934,877 | — | ||||||||||||||||||||||||||||||
Villa Solana | Laguna Hills, CA | 1984 | 272 | 1,665,100 | 14,985,678 | 8,837,465 | 1,665,100 | 23,823,143 | 25,488,243 | (15,391,905 | ) | 10,096,338 | — | ||||||||||||||||||||||||||||||
Village at Bear Creek | Lakewood, CO | 1987 | 472 | 4,519,700 | 40,676,390 | 5,372,025 | 4,519,700 | 46,048,415 | 50,568,115 | (26,558,906 | ) | 24,009,209 | — | ||||||||||||||||||||||||||||||
Village at Howard Hughes, The | Los Angeles, CA | (F) | — | 79,175,802 | 7,944,921 | — | 79,175,802 | 7,944,921 | 87,120,723 | — | 87,120,723 | — | |||||||||||||||||||||||||||||||
Virginia Square | Arlington, VA (G) | 2002 | 231 | — | 86,431,862 | 782,084 | — | 87,213,946 | 87,213,946 | (5,921,143 | ) | 81,292,803 | — | ||||||||||||||||||||||||||||||
Vista Del Lago | Mission Viejo, CA | 1986-1988 | 608 | 4,525,800 | 40,736,293 | 15,232,854 | 4,525,800 | 55,969,147 | 60,494,947 | (37,059,350 | ) | 23,435,597 | — | ||||||||||||||||||||||||||||||
Walden Park | Cambridge, MA | 1966 | 232 | 12,448,888 | 52,044,448 | 2,469,745 | 12,448,888 | 54,514,193 | 66,963,081 | (7,696,848 | ) | 59,266,233 | — | ||||||||||||||||||||||||||||||
Waterford Place (CO) | Thornton, CO | 1998 | 336 | 5,040,000 | 29,946,419 | 1,737,955 | 5,040,000 | 31,684,374 | 36,724,374 | (12,866,707 | ) | 23,857,667 | — | ||||||||||||||||||||||||||||||
Watertown Square | Watertown, MA (G) | 2005 | 134 | 16,800,000 | 34,335,683 | 47,280 | 16,800,000 | 34,382,963 | 51,182,963 | (2,762,709 | ) | 48,420,254 | — | ||||||||||||||||||||||||||||||
Webster Green | Needham, MA | 1985 | 77 | 1,418,893 | 9,485,006 | 1,182,355 | 1,418,893 | 10,667,361 | 12,086,254 | (5,110,126 | ) | 6,976,128 | — | ||||||||||||||||||||||||||||||
Welleby Lake Club | Sunrise, FL | 1991 | 304 | 3,648,000 | 17,620,879 | 5,771,885 | 3,648,000 | 23,392,764 | 27,040,764 | (12,645,731 | ) | 14,395,033 | — | ||||||||||||||||||||||||||||||
West 96th | New York, NY (G) | 1987 | 207 | 84,800,000 | 67,824,685 | 556,573 | 84,800,000 | 68,381,258 | 153,181,258 | (8,307,241 | ) | 144,874,017 | — | ||||||||||||||||||||||||||||||
West End Apartments (fka Emerson place/ CRP II) | Boston, MA (G) | 2008 | 310 | 469,546 | 163,123,022 | 660,903 | 469,546 | 163,783,925 | 164,253,471 | (33,407,167 | ) | 130,846,304 | — | ||||||||||||||||||||||||||||||
West Seattle | Seattle, WA | (F) | — | 11,726,305 | 6,992,695 | — | 11,726,305 | 6,992,695 | 18,719,000 | — | 18,719,000 | — | |||||||||||||||||||||||||||||||
Westchester at Pavilions | Waldorf, MD (G) | 2009 | 491 | 11,900,000 | 90,134,491 | 225,033 | 11,900,000 | 90,359,524 | 102,259,524 | (5,417,460 | ) | 96,842,064 | — | ||||||||||||||||||||||||||||||
Westchester at Rockville | Rockville, MD | 2009 | 192 | 10,600,000 | 44,416,692 | 113,249 | 10,600,000 | 44,529,941 | 55,129,941 | (3,504,357 | ) | 51,625,584 | — | ||||||||||||||||||||||||||||||
Westmont | New York, NY (G) | 1986 | 163 | 64,900,000 | 61,792,095 | 212,358 | 64,900,000 | 62,004,453 | 126,904,453 | (6,001,580 | ) | 120,902,873 | — | ||||||||||||||||||||||||||||||
Westside | Los Angeles, CA | 2004 | 204 | 34,200,000 | 57,431,465 | 363,066 | 34,200,000 | 57,794,531 | 91,994,531 | (4,346,093 | ) | 87,648,438 | — | ||||||||||||||||||||||||||||||
Westside Villas I | Los Angeles, CA | 1999 | 21 | 1,785,000 | 3,233,254 | 305,913 | 1,785,000 | 3,539,167 | 5,324,167 | (1,688,575 | ) | 3,635,592 | — | ||||||||||||||||||||||||||||||
Westside Villas II | Los Angeles, CA | 1999 | 23 | 1,955,000 | 3,541,435 | 194,242 | 1,955,000 | 3,735,677 | 5,690,677 | (1,714,567 | ) | 3,976,110 | — | ||||||||||||||||||||||||||||||
Westside Villas III | Los Angeles, CA | 1999 | 36 | 3,060,000 | 5,538,871 | 288,802 | 3,060,000 | 5,827,673 | 8,887,673 | (2,668,163 | ) | 6,219,510 | — | ||||||||||||||||||||||||||||||
Westside Villas IV | Los Angeles, CA | 1999 | 36 | 3,060,000 | 5,539,390 | 297,249 | 3,060,000 | 5,836,639 | 8,896,639 | (2,674,400 | ) | 6,222,239 | — | ||||||||||||||||||||||||||||||
Westside Villas V | Los Angeles, CA | 1999 | 60 | 5,100,000 | 9,224,485 | 510,334 | 5,100,000 | 9,734,819 | 14,834,819 | (4,470,041 | ) | 10,364,778 | — | ||||||||||||||||||||||||||||||
Westside Villas VI | Los Angeles, CA | 1989 | 18 | 1,530,000 | 3,023,523 | 274,577 | 1,530,000 | 3,298,100 | 4,828,100 | (1,547,728 | ) | 3,280,372 | — | ||||||||||||||||||||||||||||||
Westside Villas VII | Los Angeles, CA | 2001 | 53 | 4,505,000 | 10,758,900 | 486,606 | 4,505,000 | 11,245,506 | 15,750,506 | (4,563,900 | ) | 11,186,606 | — | ||||||||||||||||||||||||||||||
Westwood Glen | Westwood, MA | 1972 | 156 | 1,616,505 | 10,806,004 | 2,100,152 | 1,616,505 | 12,906,156 | 14,522,661 | (6,122,453 | ) | 8,400,208 | — | ||||||||||||||||||||||||||||||
Windridge (CA) | Laguna Niguel, CA | 1989 | 344 | 2,662,900 | 23,985,497 | 8,186,273 | 2,662,900 | 32,171,770 | 34,834,670 | (20,278,246 | ) | 14,556,424 | — | ||||||||||||||||||||||||||||||
Winston, The (FL) | Pembroke Pines, FL | 2001/2003 | 464 | 18,561,000 | 49,527,569 | 2,587,408 | 18,561,000 | 52,114,977 | 70,675,977 | (16,723,548 | ) | 53,952,429 | — | ||||||||||||||||||||||||||||||
Wood Creek (CA) | Pleasant Hill, CA | 1987 | 256 | 9,729,900 | 23,009,768 | 6,379,038 | 9,729,900 | 29,388,806 | 39,118,706 | (16,514,665 | ) | 22,604,041 | — | ||||||||||||||||||||||||||||||
Woodbridge (CT) | Newington, CT | 1968 | 73 | 498,377 | 3,331,548 | 1,162,730 | 498,377 | 4,494,278 | 4,992,655 | (2,242,801 | ) | 2,749,854 | — | ||||||||||||||||||||||||||||||
Woodlake (WA) | Kirkland, WA | 1984 | 288 | 6,631,400 | 16,735,484 | 3,227,436 | 6,631,400 | 19,962,920 | 26,594,320 | (11,285,522 | ) | 15,308,798 | — | ||||||||||||||||||||||||||||||
Woodland Park | East Palo Alto, CA (G) | 1953 | 1,811 | 72,627,418 | 57,608,771 | 6,957,995 | 72,627,418 | 64,566,766 | 137,194,184 | (18,860,924 | ) | 118,333,260 | — | ||||||||||||||||||||||||||||||
Management Business | Chicago, IL | (D) | — | — | — | 97,861,963 | — | 97,861,963 | 97,861,963 | (74,865,128 | ) | 22,996,835 | — | ||||||||||||||||||||||||||||||
Operating Partnership | Chicago, IL | (F) | — | — | 680,439 | — | — | 680,439 | 680,439 | — | 680,439 | — | |||||||||||||||||||||||||||||||
Wholly Owned Unencumbered | 67,220 | 4,699,200,739 | 11,787,198,737 | 900,502,358 | 4,699,200,739 | 12,687,701,095 | 17,386,901,834 | (3,177,396,618 | ) | 14,209,505,216 | — | ||||||||||||||||||||||||||||||||
Wholly Owned Encumbered: | |||||||||||||||||||||||||||||||||||||||||||
101 West End | New York, NY (G) | 2000 | 506 | 190,600,000 | 133,101,447 | 561,190 | 190,600,000 | 133,662,637 | 324,262,637 | (15,552,330 | ) | 308,710,307 | 103,482,569 | ||||||||||||||||||||||||||||||
1401 Joyce on Pentagon Row | Arlington, VA | 2004 | 326 | 9,780,000 | 89,668,165 | 469,955 | 9,780,000 | 90,138,120 | 99,918,120 | (18,835,680 | ) | 81,082,440 | 57,428,472 | ||||||||||||||||||||||||||||||
2501 Porter | Washington, D.C. | 1988 | 202 | 13,000,000 | 75,723,794 | 580,537 | 13,000,000 | 76,304,331 | 89,304,331 | (5,005,664 | ) | 84,298,667 | (L) | ||||||||||||||||||||||||||||||
4701 Willard Ave | Chevy Chase, MD (G) | 1966 | 513 | 76,921,130 | 153,947,682 | 6,804,185 | 76,921,130 | 160,751,867 | 237,672,997 | (17,490,985 | ) | 220,182,012 | 101,492,308 | ||||||||||||||||||||||||||||||
55 West Fifth I & II (fka Townhouse Plaza and Gardens) | San Mateo, CA | 1964/1972 | 241 | 21,041,710 | 71,931,323 | 4,270,861 | 21,041,710 | 76,202,184 | 97,243,894 | (6,417,972 | ) | 90,825,922 | 29,964,633 | ||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/13 | ||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Date of Construction | Units (H) | Land | Building & Fixtures | Building & Fixtures | Land | Building & Fixtures (A) | Total (B) | Accumulated Depreciation (C) | Investment in Real Estate, Net at 12/31/13 (B) | Encumbrances | |||||||||||||||||||||||||||||||
929 House | Cambridge, MA (G) | 1975 | 127 | 3,252,993 | 21,745,595 | 5,251,116 | 3,252,993 | 26,996,711 | 30,249,704 | (12,478,794 | ) | 17,770,910 | 2,135,579 | ||||||||||||||||||||||||||||||
Academy Village | North Hollywood, CA | 1989 | 248 | 25,000,000 | 23,593,194 | 6,920,021 | 25,000,000 | 30,513,215 | 55,513,215 | (12,789,197 | ) | 42,724,018 | 20,000,000 | ||||||||||||||||||||||||||||||
Acappella | Pasadena, CA | 2002 | 143 | 5,839,548 | 29,360,452 | 336,928 | 5,839,548 | 29,697,380 | 35,536,928 | (5,125,356 | ) | 30,411,572 | 20,122,719 | ||||||||||||||||||||||||||||||
Acton Courtyard | Berkeley, CA (G) | 2003 | 71 | 5,550,000 | 15,785,509 | 159,258 | 5,550,000 | 15,944,767 | 21,494,767 | (4,558,047 | ) | 16,936,720 | 9,920,000 | ||||||||||||||||||||||||||||||
Alborada | Fremont, CA | 1999 | 442 | 24,310,000 | 59,214,129 | 2,849,892 | 24,310,000 | 62,064,021 | 86,374,021 | (29,612,754 | ) | 56,761,267 | (I) | ||||||||||||||||||||||||||||||
Arches, The | Sunnyvale, CA | 1974 | 410 | 26,650,000 | 62,850,000 | 696,941 | 26,650,000 | 63,546,941 | 90,196,941 | (9,829,040 | ) | 80,367,901 | (J) | ||||||||||||||||||||||||||||||
Artech Building | Berkeley, CA (G) | 2002 | 21 | 1,642,000 | 9,152,518 | 114,811 | 1,642,000 | 9,267,329 | 10,909,329 | (2,421,777 | ) | 8,487,552 | 3,200,000 | ||||||||||||||||||||||||||||||
Artisan Square | Northridge, CA | 2002 | 140 | 7,000,000 | 20,537,359 | 977,155 | 7,000,000 | 21,514,514 | 28,514,514 | (8,466,816 | ) | 20,047,698 | 22,779,715 | ||||||||||||||||||||||||||||||
Avanti | Anaheim, CA | 1987 | 162 | 12,960,000 | 18,497,683 | 1,248,387 | 12,960,000 | 19,746,070 | 32,706,070 | (6,504,421 | ) | 26,201,649 | 18,169,458 | ||||||||||||||||||||||||||||||
Avenir | Boston, MA (G) | 2009 | 241 | — | 115,095,512 | 94,558 | — | 115,190,070 | 115,190,070 | (8,460,359 | ) | 106,729,711 | 95,993,276 | ||||||||||||||||||||||||||||||
Bachenheimer Building | Berkeley, CA (G) | 2004 | 44 | 3,439,000 | 13,866,379 | 115,944 | 3,439,000 | 13,982,323 | 17,421,323 | (3,775,179 | ) | 13,646,144 | 8,585,000 | ||||||||||||||||||||||||||||||
Bella Vista I, II, III Combined | Woodland Hills, CA | 2003-2007 | 579 | 31,682,754 | 121,095,786 | 2,565,629 | 31,682,754 | 123,661,415 | 155,344,169 | (36,751,609 | ) | 118,592,560 | 58,055,099 | ||||||||||||||||||||||||||||||
Berkeleyan | Berkeley, CA (G) | 1998 | 56 | 4,377,000 | 16,022,110 | 305,173 | 4,377,000 | 16,327,283 | 20,704,283 | (4,544,908 | ) | 16,159,375 | 8,290,000 | ||||||||||||||||||||||||||||||
Breakwater at Marina Del Rey | Marina Del Rey, CA | 1964-1969 | 224 | — | 72,690,403 | 49,738 | — | 72,740,141 | 72,740,141 | (5,675,272 | ) | 67,064,869 | 27,000,000 | ||||||||||||||||||||||||||||||
Broadway | Santa Monica, CA (G) | 2001 | 101 | 12,600,000 | 34,635,854 | 128,778 | 12,600,000 | 34,764,632 | 47,364,632 | (2,310,263 | ) | 45,054,369 | (L) | ||||||||||||||||||||||||||||||
Calvert Woodley | Washington, D.C. | 1962 | 136 | 12,600,000 | 43,815,169 | 110,763 | 12,600,000 | 43,925,932 | 56,525,932 | (3,478,526 | ) | 53,047,406 | (L) | ||||||||||||||||||||||||||||||
Camargue | New York, NY (G) | 1976 | 261 | 79,400,000 | 79,936,285 | 238,142 | 79,400,000 | 80,174,427 | 159,574,427 | (8,175,241 | ) | 151,399,186 | (L) | ||||||||||||||||||||||||||||||
Canterbury | Germantown, MD | 1986 | 544 | 2,781,300 | 32,942,531 | 14,871,303 | 2,781,300 | 47,813,834 | 50,595,134 | (31,347,905 | ) | 19,247,229 | 31,680,000 | ||||||||||||||||||||||||||||||
Carmel Terrace | San Diego, CA | 1988-1989 | 384 | 2,288,300 | 20,596,281 | 10,356,205 | 2,288,300 | 30,952,486 | 33,240,786 | (21,171,170 | ) | 12,069,616 | (J) | ||||||||||||||||||||||||||||||
Chelsea | New York, NY (G) | 2003 | 266 | 59,900,000 | 156,987,648 | 54,996 | 59,900,000 | 157,042,644 | 216,942,644 | (11,425,444 | ) | 205,517,200 | 75,818,310 | ||||||||||||||||||||||||||||||
Chelsea Square | Redmond, WA | 1991 | 113 | 3,397,100 | 9,289,074 | 1,706,006 | 3,397,100 | 10,995,080 | 14,392,180 | (5,903,575 | ) | 8,488,605 | 9,270,000 | ||||||||||||||||||||||||||||||
Church Corner | Cambridge, MA (G) | 1987 | 85 | 5,220,000 | 16,744,643 | 1,561,158 | 5,220,000 | 18,305,801 | 23,525,801 | (6,372,695 | ) | 17,153,106 | 12,000,000 | ||||||||||||||||||||||||||||||
Citrus Suites | Santa Monica, CA | 1978 | 70 | 9,000,000 | 17,083,391 | 34,231 | 9,000,000 | 17,117,622 | 26,117,622 | (1,246,430 | ) | 24,871,192 | (L) | ||||||||||||||||||||||||||||||
City Pointe | Fullerton, CA (G) | 2004 | 183 | 6,863,792 | 36,476,208 | 654,735 | 6,863,792 | 37,130,943 | 43,994,735 | (7,526,423 | ) | 36,468,312 | 22,016,556 | ||||||||||||||||||||||||||||||
CityView at Longwood | Boston, MA (G) | 1970 | 295 | 14,704,898 | 79,195,102 | 8,167,305 | 14,704,898 | 87,362,407 | 102,067,305 | (13,768,517 | ) | 88,298,788 | 24,709,587 | ||||||||||||||||||||||||||||||
Clarendon, The | Arlington, VA (G) | 2005 | 292 | 30,400,340 | 103,824,660 | 1,754,620 | 30,400,340 | 105,579,280 | 135,979,620 | (14,363,043 | ) | 121,616,577 | 43,026,348 | ||||||||||||||||||||||||||||||
Cleveland House | Washington, D.C. | 1953 | 214 | 18,300,000 | 66,826,715 | 171,023 | 18,300,000 | 66,997,738 | 85,297,738 | (4,962,013 | ) | 80,335,725 | (L) | ||||||||||||||||||||||||||||||
Colorado Pointe | Denver, CO | 2006 | 193 | 5,790,000 | 28,815,607 | 552,283 | 5,790,000 | 29,367,890 | 35,157,890 | (9,575,767 | ) | 25,582,123 | (J) | ||||||||||||||||||||||||||||||
Columbia Crossing | Arlington, VA | 1991 | 247 | 23,500,000 | 53,437,514 | 547,130 | 23,500,000 | 53,984,644 | 77,484,644 | (4,430,068 | ) | 73,054,576 | (L) | ||||||||||||||||||||||||||||||
Connecticut Heights | Washington, D.C. | 1974 | 518 | 27,600,000 | 114,728,311 | 303,660 | 27,600,000 | 115,031,971 | 142,631,971 | (8,350,350 | ) | 134,281,621 | (K) | ||||||||||||||||||||||||||||||
Copper Canyon | Highlands Ranch, CO | 1999 | 222 | 1,442,212 | 16,251,114 | 1,604,884 | 1,442,212 | 17,855,998 | 19,298,210 | (9,313,767 | ) | 9,984,443 | (J) | ||||||||||||||||||||||||||||||
Deerwood (SD) | San Diego, CA | 1990 | 316 | 2,082,095 | 18,739,815 | 13,788,977 | 2,082,095 | 32,528,792 | 34,610,887 | (22,264,629 | ) | 12,346,258 | (J) | ||||||||||||||||||||||||||||||
Del Mar Ridge | San Diego, CA | 1998 | 181 | 7,801,824 | 36,948,176 | 3,033,539 | 7,801,824 | 39,981,715 | 47,783,539 | (8,503,934 | ) | 39,279,605 | 23,789,381 | ||||||||||||||||||||||||||||||
East 39th | New York, NY (G) | 2001 | 254 | 48,900,000 | 96,938,591 | 208,601 | 48,900,000 | 97,147,192 | 146,047,192 | (7,978,821 | ) | 138,068,371 | 58,822,321 | ||||||||||||||||||||||||||||||
Estates at Tanglewood | Westminster, CO | 2003 | 504 | 7,560,000 | 51,256,538 | 2,577,858 | 7,560,000 | 53,834,396 | 61,394,396 | (18,061,981 | ) | 43,332,415 | (I) | ||||||||||||||||||||||||||||||
Fairchase | Fairfax, VA | 2007 | 392 | 23,500,000 | 88,292,669 | 75,367 | 23,500,000 | 88,368,036 | 111,868,036 | (6,417,469 | ) | 105,450,567 | (L) | ||||||||||||||||||||||||||||||
Fairfield | Stamford, CT (G) | 1996 | 263 | 6,510,200 | 39,690,120 | 6,195,719 | 6,510,200 | 45,885,839 | 52,396,039 | (25,583,560 | ) | 26,812,479 | 34,595,000 | ||||||||||||||||||||||||||||||
Fine Arts Building | Berkeley, CA (G) | 2004 | 100 | 7,817,000 | 26,462,772 | 199,005 | 7,817,000 | 26,661,777 | 34,478,777 | (7,380,682 | ) | 27,098,095 | 16,215,000 | ||||||||||||||||||||||||||||||
Flats at DuPont Circle | Washington, D.C. | 1967 | 306 | 35,200,000 | 109,508,602 | 182,015 | 35,200,000 | 109,690,617 | 144,890,617 | (7,612,197 | ) | 137,278,420 | (L) | ||||||||||||||||||||||||||||||
Gaia Building | Berkeley, CA (G) | 2000 | 91 | 7,113,000 | 25,623,826 | 208,640 | 7,113,000 | 25,832,466 | 32,945,466 | (7,139,073 | ) | 25,806,393 | 14,630,000 | ||||||||||||||||||||||||||||||
Gaithersburg Station | Gaithersburg, MD (G) | 2013 | 389 | 17,500,000 | 74,677,374 | 37,618 | 17,500,000 | 74,714,992 | 92,214,992 | (4,245,768 | ) | 87,969,224 | 99,939,735 | ||||||||||||||||||||||||||||||
Gateway at Malden Center | Malden, MA (G) | 1988 | 203 | 9,209,780 | 25,722,666 | 9,753,016 | 9,209,780 | 35,475,682 | 44,685,462 | (15,740,054 | ) | 28,945,408 | 14,970,000 | ||||||||||||||||||||||||||||||
Glo | Los Angeles, CA (G) | 2008 | 201 | 16,047,022 | 48,650,963 | 221,243 | 16,047,022 | 48,872,206 | 64,919,228 | (5,955,017 | ) | 58,964,211 | 31,789,016 | ||||||||||||||||||||||||||||||
Hathaway | Long Beach, CA | 1987 | 385 | 2,512,500 | 22,611,912 | 7,390,659 | 2,512,500 | 30,002,571 | 32,515,071 | (19,468,132 | ) | 13,046,939 | 46,517,800 | ||||||||||||||||||||||||||||||
Heights on Capitol Hill | Seattle, WA (G) | 2006 | 104 | 5,425,000 | 21,138,028 | 181,923 | 5,425,000 | 21,319,951 | 26,744,951 | (6,240,631 | ) | 20,504,320 | 28,180,585 | ||||||||||||||||||||||||||||||
Heritage at Stone Ridge | Burlington, MA | 2005 | 180 | 10,800,000 | 31,808,335 | 909,763 | 10,800,000 | 32,718,098 | 43,518,098 | (10,781,687 | ) | 32,736,411 | 27,235,117 | ||||||||||||||||||||||||||||||
Heronfield | Kirkland, WA | 1990 | 202 | 9,245,000 | 27,017,749 | 1,544,319 | 9,245,000 | 28,562,068 | 37,807,068 | (8,710,641 | ) | 29,096,427 | (J) | ||||||||||||||||||||||||||||||
Hoboken | Hoboken, NJ | 2000 | 301 | 27,900,000 | 170,002,320 | 166,997 | 27,900,000 | 170,169,317 | 198,069,317 | (10,444,060 | ) | 187,625,257 | (K) | ||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/13 | ||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Date of Construction | Units (H) | Land | Building & Fixtures | Building & Fixtures | Land | Building & Fixtures (A) | Total (B) | Accumulated Depreciation (C) | Investment in Real Estate, Net at 12/31/13 (B) | Encumbrances | |||||||||||||||||||||||||||||||
Ivory Wood | Bothell, WA | 2000 | 144 | 2,732,800 | 13,888,282 | 679,844 | 2,732,800 | 14,568,126 | 17,300,926 | (5,337,998 | ) | 11,962,928 | 8,020,000 | ||||||||||||||||||||||||||||||
Kelvin Court (fka Alta Pacific) | Irvine, CA | 2008 | 132 | 10,752,145 | 34,649,929 | 163,968 | 10,752,145 | 34,813,897 | 45,566,042 | (7,190,325 | ) | 38,375,717 | 26,495,000 | ||||||||||||||||||||||||||||||
La Terrazza at Colma Station | Colma, CA (G) | 2005 | 153 | — | 41,251,044 | 615,479 | — | 41,866,523 | 41,866,523 | (11,499,213 | ) | 30,367,310 | 25,175,000 | ||||||||||||||||||||||||||||||
Laguna Clara | Santa Clara, CA | 1972 | 264 | 13,642,420 | 29,707,475 | 4,094,793 | 13,642,420 | 33,802,268 | 47,444,688 | (13,238,970 | ) | 34,205,718 | (J) | ||||||||||||||||||||||||||||||
Liberty Park | Brain Tree, MA | 2000 | 202 | 5,977,504 | 26,749,111 | 2,759,086 | 5,977,504 | 29,508,197 | 35,485,701 | (11,871,567 | ) | 23,614,134 | 24,980,280 | ||||||||||||||||||||||||||||||
Liberty Tower | Arlington, VA (G) | 2008 | 235 | 16,382,822 | 83,817,078 | 858,516 | 16,382,822 | 84,675,594 | 101,058,416 | (14,112,008 | ) | 86,946,408 | 47,439,130 | ||||||||||||||||||||||||||||||
Lindley | Encino, CA | 2004 | 129 | 5,805,000 | 25,705,000 | 599,231 | 5,805,000 | 26,304,231 | 32,109,231 | (4,053,076 | ) | 28,056,155 | 21,088,981 | ||||||||||||||||||||||||||||||
Longview Place | Waltham, MA | 2004 | 348 | 20,880,000 | 90,255,509 | 3,174,207 | 20,880,000 | 93,429,716 | 114,309,716 | (28,207,183 | ) | 86,102,533 | 60,073,423 | ||||||||||||||||||||||||||||||
Market Street Village | San Diego, CA | 2006 | 229 | 13,740,000 | 40,757,301 | 884,586 | 13,740,000 | 41,641,887 | 55,381,887 | (12,253,028 | ) | 43,128,859 | (J) | ||||||||||||||||||||||||||||||
Marks | Englewood, CO (G) | 1987 | 616 | 4,928,500 | 44,622,314 | 11,262,819 | 4,928,500 | 55,885,133 | 60,813,633 | (31,863,973 | ) | 28,949,660 | 19,195,000 | ||||||||||||||||||||||||||||||
Metro on First | Seattle, WA (G) | 2002 | 102 | 8,540,000 | 12,209,981 | 415,057 | 8,540,000 | 12,625,038 | 21,165,038 | (4,042,522 | ) | 17,122,516 | 22,843,410 | ||||||||||||||||||||||||||||||
Midtown 24 | Plantation, FL (G) | 2010 | 247 | 10,129,900 | 58,770,100 | 1,225,984 | 10,129,900 | 59,996,084 | 70,125,984 | (8,339,616 | ) | 61,786,368 | (J) | ||||||||||||||||||||||||||||||
Mill Creek | Milpitas, CA | 1991 | 516 | 12,858,693 | 57,168,503 | 3,728,226 | 12,858,693 | 60,896,729 | 73,755,422 | (23,694,689 | ) | 50,060,733 | 69,312,259 | ||||||||||||||||||||||||||||||
Miramar Lakes | Miramar, FL | 2003 | 344 | 17,200,000 | 51,487,235 | 2,023,326 | 17,200,000 | 53,510,561 | 70,710,561 | (17,652,020 | ) | 53,058,541 | (M) | ||||||||||||||||||||||||||||||
Moda | Seattle, WA (G) | 2009 | 251 | 12,649,228 | 36,842,012 | 687,636 | 12,649,228 | 37,529,648 | 50,178,876 | (6,097,337 | ) | 44,081,539 | (N) | ||||||||||||||||||||||||||||||
Monte Viejo | Phoenix, AZ | 2004 | 480 | 12,700,000 | 45,926,784 | 1,259,854 | 12,700,000 | 47,186,638 | 59,886,638 | (17,013,895 | ) | 42,872,743 | 39,539,109 | ||||||||||||||||||||||||||||||
Montierra (CA) | San Diego, CA | 1990 | 272 | 8,160,000 | 29,360,938 | 7,185,662 | 8,160,000 | 36,546,600 | 44,706,600 | (18,654,006 | ) | 26,052,594 | (J) | ||||||||||||||||||||||||||||||
Mosaic at Metro | Hyattsville, MD | 2008 | 260 | — | 59,580,898 | 318,502 | — | 59,899,400 | 59,899,400 | (11,320,611 | ) | 48,578,789 | 43,807,598 | ||||||||||||||||||||||||||||||
New River Cove | Davie, FL | 1999 | 316 | 15,800,000 | 46,142,895 | 1,517,594 | 15,800,000 | 47,660,489 | 63,460,489 | (15,794,393 | ) | 47,666,096 | (J) | ||||||||||||||||||||||||||||||
North Pier at Harborside | Jersey City, NJ | 2003 | 297 | 4,000,159 | 94,290,590 | 2,379,299 | 4,000,159 | 96,669,889 | 100,670,048 | (32,540,349 | ) | 68,129,699 | (I) | ||||||||||||||||||||||||||||||
Northpark | Burlingame, CA | 1972 | 510 | 38,607,000 | 77,477,449 | 10,317,077 | 38,607,000 | 87,794,526 | 126,401,526 | (16,582,733 | ) | 109,818,793 | 64,865,644 | ||||||||||||||||||||||||||||||
Oak Mill II | Germantown, MD | 1985 | 192 | 854,133 | 10,233,947 | 6,491,391 | 854,133 | 16,725,338 | 17,579,471 | (10,918,229 | ) | 6,661,242 | 9,600,000 | ||||||||||||||||||||||||||||||
Oaks | Santa Clarita, CA | 2000 | 520 | 23,400,000 | 61,020,438 | 3,457,727 | 23,400,000 | 64,478,165 | 87,878,165 | (24,819,377 | ) | 63,058,788 | 38,268,889 | ||||||||||||||||||||||||||||||
Olympus Towers | Seattle, WA (G) | 2000 | 328 | 14,752,034 | 73,335,425 | 3,951,724 | 14,752,034 | 77,287,149 | 92,039,183 | (27,657,976 | ) | 64,381,207 | 49,875,780 | ||||||||||||||||||||||||||||||
Promenade | Santa Monica, CA (G) | 1934/2001 | 58 | 9,000,000 | 14,079,234 | 25,302 | 9,000,000 | 14,104,536 | 23,104,536 | (1,450,445 | ) | 21,654,091 | (L) | ||||||||||||||||||||||||||||||
Providence | Bothell, WA | 2000 | 200 | 3,573,621 | 19,055,505 | 719,661 | 3,573,621 | 19,775,166 | 23,348,787 | (7,384,385 | ) | 15,964,402 | (I) | ||||||||||||||||||||||||||||||
Reserve at Clarendon Centre, The | Arlington, VA (G) | 2003 | 252 | 10,500,000 | 52,812,935 | 3,634,286 | 10,500,000 | 56,447,221 | 66,947,221 | (20,344,998 | ) | 46,602,223 | (J) | ||||||||||||||||||||||||||||||
Reserve at Eisenhower, The | Alexandria, VA | 2002 | 226 | 6,500,000 | 34,585,060 | 1,325,152 | 6,500,000 | 35,910,212 | 42,410,212 | (13,939,522 | ) | 28,470,690 | (J) | ||||||||||||||||||||||||||||||
Reserve at Empire Lakes | Rancho Cucamonga, CA | 2005 | 467 | 16,345,000 | 73,080,670 | 1,922,681 | 16,345,000 | 75,003,351 | 91,348,351 | (23,271,791 | ) | 68,076,560 | (I) | ||||||||||||||||||||||||||||||
Reserve at Fairfax Corner | Fairfax, VA | 2001 | 652 | 15,804,057 | 63,129,050 | 4,057,506 | 15,804,057 | 67,186,556 | 82,990,613 | (27,294,907 | ) | 55,695,706 | 84,778,876 | ||||||||||||||||||||||||||||||
Reserve at Potomac Yard | Alexandria, VA | 2002 | 588 | 11,918,917 | 68,862,641 | 5,233,629 | 11,918,917 | 74,096,270 | 86,015,187 | (26,089,157 | ) | 59,926,030 | 66,470,000 | ||||||||||||||||||||||||||||||
Reserve at Town Center (WA) | Mill Creek, WA | 2001 | 389 | 10,369,400 | 41,172,081 | 2,154,112 | 10,369,400 | 43,326,193 | 53,695,593 | (15,561,433 | ) | 38,134,160 | 29,160,000 | ||||||||||||||||||||||||||||||
Rianna II | Seattle, WA (G) | 2002 | 78 | 2,161,840 | 14,433,614 | 73,166 | 2,161,840 | 14,506,780 | 16,668,620 | (3,061,770 | ) | 13,606,850 | 9,889,090 | ||||||||||||||||||||||||||||||
Rockingham Glen | West Roxbury, MA | 1974 | 143 | 1,124,217 | 7,515,160 | 2,012,885 | 1,124,217 | 9,528,045 | 10,652,262 | (4,830,794 | ) | 5,821,468 | 927,712 | ||||||||||||||||||||||||||||||
San Mateo | San Mateo, CA (G) | 2001 | 575 | 71,900,000 | 213,372,253 | 662,020 | 71,900,000 | 214,034,273 | 285,934,273 | (14,976,876 | ) | 270,957,397 | (L) | ||||||||||||||||||||||||||||||
Santa Clara | Santa Clara, CA | 2000 | 450 | — | 124,542,070 | 239,471 | — | 124,781,541 | 124,781,541 | (8,966,799 | ) | 115,814,742 | (L) | ||||||||||||||||||||||||||||||
Siena Terrace | Lake Forest, CA | 1988 | 356 | 8,900,000 | 24,083,024 | 5,585,518 | 8,900,000 | 29,668,542 | 38,568,542 | (14,937,859 | ) | 23,630,683 | 38,440,808 | ||||||||||||||||||||||||||||||
Skyview | Rancho Santa Margarita, CA | 1999 | 260 | 3,380,000 | 21,952,863 | 2,131,723 | 3,380,000 | 24,084,586 | 27,464,586 | (12,416,719 | ) | 15,047,867 | 30,889,928 | ||||||||||||||||||||||||||||||
South Market | San Francisco, CA (G) | 1986 | 410 | 79,900,000 | 178,635,578 | 1,278,976 | 79,900,000 | 179,914,554 | 259,814,554 | (13,042,186 | ) | 246,772,368 | (L) | ||||||||||||||||||||||||||||||
South Winds | Fall River, MA | 1971 | 404 | 2,481,821 | 16,780,359 | 4,774,276 | 2,481,821 | 21,554,635 | 24,036,456 | (11,230,606 | ) | 12,805,850 | 3,092,625 | ||||||||||||||||||||||||||||||
Stonegate (CO) | Broomfield, CO | 2003 | 350 | 8,750,000 | 32,950,375 | 3,114,108 | 8,750,000 | 36,064,483 | 44,814,483 | (12,690,883 | ) | 32,123,600 | (I) | ||||||||||||||||||||||||||||||
Stoney Ridge | Dale City, VA | 1985 | 264 | 8,000,000 | 24,147,091 | 5,705,255 | 8,000,000 | 29,852,346 | 37,852,346 | (11,944,034 | ) | 25,908,312 | 13,886,034 | ||||||||||||||||||||||||||||||
Summerset Village | Chatsworth, CA | 1985 | 280 | 2,629,804 | 23,670,889 | 6,252,474 | 2,629,804 | 29,923,363 | 32,553,167 | (17,328,409 | ) | 15,224,758 | 38,039,912 | ||||||||||||||||||||||||||||||
Talleyrand | Tarrytown, NY | 1997-1998 | 300 | 12,000,000 | 49,838,160 | 4,046,367 | 12,000,000 | 53,884,527 | 65,884,527 | (23,842,054 | ) | 42,042,473 | 35,000,000 | ||||||||||||||||||||||||||||||
Teresina | Chula Vista, CA | 2000 | 440 | 28,600,000 | 61,916,670 | 2,255,817 | 28,600,000 | 64,172,487 | 92,772,487 | (20,981,272 | ) | 71,791,215 | 41,956,105 | ||||||||||||||||||||||||||||||
Toscana | Irvine, CA | 1991/1993 | 563 | 39,410,000 | 50,806,072 | 7,547,102 | 39,410,000 | 58,353,174 | 97,763,174 | (28,234,404 | ) | 69,528,770 | 71,243,194 | ||||||||||||||||||||||||||||||
Touriel Building | Berkeley, CA (G) | 2004 | 35 | 2,736,000 | 7,810,027 | 170,436 | 2,736,000 | 7,980,463 | 10,716,463 | (2,276,033 | ) | 8,440,430 | 5,050,000 | ||||||||||||||||||||||||||||||
Town Square at Mark Center I (fka Millbrook I) | Alexandria, VA | 1996 | 406 | 24,360,000 | 86,178,714 | 2,852,824 | 24,360,000 | 89,031,538 | 113,391,538 | (28,837,370 | ) | 84,554,168 | 77,353,222 | ||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/13 | ||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Date of Construction | Units (H) | Land | Building & Fixtures | Building & Fixtures | Land | Building & Fixtures (A) | Total (B) | Accumulated Depreciation (C) | Investment in Real Estate, Net at 12/31/13 (B) | Encumbrances | |||||||||||||||||||||||||||||||
Uptown Square | Denver, CO (G) | 1999/2001 | 696 | 17,492,000 | 100,696,541 | 3,261,624 | 17,492,000 | 103,958,165 | 121,450,165 | (35,022,638 | ) | 86,427,527 | 99,190,116 | ||||||||||||||||||||||||||||||
Van Ness | Washington, D.C. | 1970 | 625 | 56,300,000 | 142,204,077 | 1,315,370 | 56,300,000 | 143,519,447 | 199,819,447 | (11,899,235 | ) | 187,920,212 | (K) | ||||||||||||||||||||||||||||||
Versailles | Woodland Hills, CA | 1991 | 253 | 12,650,000 | 33,656,292 | 4,979,374 | 12,650,000 | 38,635,666 | 51,285,666 | (15,459,664 | ) | 35,826,002 | 30,372,953 | ||||||||||||||||||||||||||||||
Versailles (K-Town) | Los Angeles, CA | 2008 | 225 | 10,590,975 | 44,409,025 | 291,622 | 10,590,975 | 44,700,647 | 55,291,622 | (8,870,160 | ) | 46,421,462 | 29,826,475 | ||||||||||||||||||||||||||||||
Victor on Venice | Los Angeles, CA (G) | 2006 | 115 | 10,350,000 | 35,433,437 | 261,071 | 10,350,000 | 35,694,508 | 46,044,508 | (10,004,367 | ) | 36,040,141 | (J) | ||||||||||||||||||||||||||||||
Vintage | Ontario, CA | 2005-2007 | 300 | 7,059,230 | 47,677,762 | 367,174 | 7,059,230 | 48,044,936 | 55,104,166 | (14,167,823 | ) | 40,936,343 | 33,000,000 | ||||||||||||||||||||||||||||||
Vista on Courthouse | Arlington, VA | 2008 | 220 | 15,550,260 | 69,449,740 | 643,404 | 15,550,260 | 70,093,144 | 85,643,404 | (13,517,115 | ) | 72,126,289 | 31,380,000 | ||||||||||||||||||||||||||||||
Water Park Towers | Arlington, VA | 1989 | 362 | 34,400,000 | 109,218,415 | 1,853,467 | 34,400,000 | 111,071,882 | 145,471,882 | (8,181,264 | ) | 137,290,618 | (K) | ||||||||||||||||||||||||||||||
West 54th | New York, NY (G) | 2001 | 222 | 60,900,000 | 48,772,556 | 134,368 | 60,900,000 | 48,906,924 | 109,806,924 | (5,718,712 | ) | 104,088,212 | 46,390,558 | ||||||||||||||||||||||||||||||
Westgate (fka Westgate I) | Pasadena, CA | 2010 | 480 | 22,898,848 | 133,553,242 | 278,435 | 22,898,848 | 133,831,677 | 156,730,525 | (13,887,631 | ) | 142,842,894 | 96,935,000 | ||||||||||||||||||||||||||||||
Woodleaf | Campbell, CA | 1984 | 178 | 8,550,600 | 16,988,182 | 3,978,891 | 8,550,600 | 20,967,073 | 29,517,673 | (10,546,255 | ) | 18,971,418 | 17,858,854 | ||||||||||||||||||||||||||||||
Wholly Owned Encumbered | 32,101 | 1,935,536,426 | 6,183,275,205 | 279,055,895 | 1,935,536,426 | 6,462,331,100 | 8,397,867,526 | (1,457,510,357 | ) | 6,940,357,169 | 2,703,534,549 | ||||||||||||||||||||||||||||||||
Partially Owned Unencumbered: | |||||||||||||||||||||||||||||||||||||||||||
2300 Elliott | Seattle, WA | 1992 | 92 | 796,800 | 7,173,725 | 6,169,587 | 796,800 | 13,343,312 | 14,140,112 | (9,199,580 | ) | 4,940,532 | — | ||||||||||||||||||||||||||||||
400 Park Avenue South (EQR) | New York, NY | (F) | — | 76,292,169 | 96,230,632 | — | 76,292,169 | 96,230,632 | 172,522,801 | — | 172,522,801 | — | |||||||||||||||||||||||||||||||
400 Park Avenue South (Toll) | New York, NY | (F) | — | 58,090,357 | 38,681,373 | — | 58,090,357 | 38,681,373 | 96,771,730 | — | 96,771,730 | — | |||||||||||||||||||||||||||||||
Canyon Ridge | San Diego, CA | 1989 | 162 | 4,869,448 | 11,955,063 | 1,979,252 | 4,869,448 | 13,934,315 | 18,803,763 | (8,130,970 | ) | 10,672,793 | — | ||||||||||||||||||||||||||||||
Country Oaks | Agoura Hills, CA | 1985 | 256 | 6,105,000 | 29,561,865 | 3,477,905 | 6,105,000 | 33,039,770 | 39,144,770 | (14,454,678 | ) | 24,690,092 | — | ||||||||||||||||||||||||||||||
East Palmetto Park | Boca Raton, FL | (F) | — | 20,200,000 | 281,641 | — | 20,200,000 | 281,641 | 20,481,641 | — | 20,481,641 | — | |||||||||||||||||||||||||||||||
Fox Ridge | Englewood, CO | 1984 | 300 | 2,490,000 | 17,522,114 | 4,304,324 | 2,490,000 | 21,826,438 | 24,316,438 | (10,802,571 | ) | 13,513,867 | — | ||||||||||||||||||||||||||||||
Hudson Crossing II | New York, NY | (F) | — | 5,000,000 | — | — | 5,000,000 | — | 5,000,000 | — | 5,000,000 | — | |||||||||||||||||||||||||||||||
Monterra in Mill Creek | Mill Creek, WA | 2003 | 139 | 2,800,000 | 13,255,122 | 554,347 | 2,800,000 | 13,809,469 | 16,609,469 | (4,616,186 | ) | 11,993,283 | — | ||||||||||||||||||||||||||||||
Park Aire | Wellington, FL | (F) | — | 8,000,000 | 39,445,363 | — | 8,000,000 | 39,445,363 | 47,445,363 | — | 47,445,363 | — | |||||||||||||||||||||||||||||||
Strayhorse at Arrowhead Ranch | Glendale, AZ | 1998 | 136 | 4,400,000 | 12,968,002 | 377,633 | 4,400,000 | 13,345,635 | 17,745,635 | (4,432,500 | ) | 13,313,135 | — | ||||||||||||||||||||||||||||||
Ventura | Ventura, CA | 2002 | 192 | 8,600,000 | 44,580,294 | 121,646 | 8,600,000 | 44,701,940 | 53,301,940 | (3,355,103 | ) | 49,946,837 | — | ||||||||||||||||||||||||||||||
Wood Creek II (fka Willow Brook) | Pleasant Hill, CA | 1985 | 228 | 5,055,000 | 38,388,672 | 3,585,226 | 5,055,000 | 41,973,898 | 47,028,898 | (14,964,187 | ) | 32,064,711 | — | ||||||||||||||||||||||||||||||
Partially Owned Unencumbered | 1,505 | 202,698,774 | 350,043,866 | 20,569,920 | 202,698,774 | 370,613,786 | 573,312,560 | (69,955,775 | ) | 503,356,785 | — | ||||||||||||||||||||||||||||||||
Partially Owned Encumbered: | |||||||||||||||||||||||||||||||||||||||||||
Bellevue Meadows | Bellevue, WA | 1983 | 180 | 4,507,100 | 12,574,814 | 4,287,572 | 4,507,100 | 16,862,386 | 21,369,486 | (9,678,161 | ) | 11,691,325 | 16,538,000 | ||||||||||||||||||||||||||||||
Canyon Creek (CA) | San Ramon, CA | 1984 | 268 | 5,425,000 | 18,812,120 | 6,335,761 | 5,425,000 | 25,147,881 | 30,572,881 | (11,655,149 | ) | 18,917,732 | 28,200,000 | ||||||||||||||||||||||||||||||
Elliot Bay | Seattle, WA (G) | 1992 | 147 | 7,600,000 | 36,066,728 | 424,904 | 7,600,000 | 36,491,632 | 44,091,632 | (2,384,136 | ) | 41,707,496 | (K) | ||||||||||||||||||||||||||||||
Isle at Arrowhead Ranch | Glendale, AZ | 1996 | 256 | 1,650,237 | 19,593,123 | 1,988,568 | 1,650,237 | 21,581,691 | 23,231,928 | (12,232,711 | ) | 10,999,217 | 17,700,000 | ||||||||||||||||||||||||||||||
Lantern Cove | Foster City, CA | 1985 | 232 | 6,945,000 | 23,064,976 | 5,303,293 | 6,945,000 | 28,368,269 | 35,313,269 | (12,461,380 | ) | 22,851,889 | 36,455,000 | ||||||||||||||||||||||||||||||
Rosecliff | Quincy, MA | 1990 | 156 | 5,460,000 | 15,721,570 | 2,387,533 | 5,460,000 | 18,109,103 | 23,569,103 | (9,071,317 | ) | 14,497,786 | 17,400,000 | ||||||||||||||||||||||||||||||
Schooner Bay I | Foster City, CA | 1985 | 168 | 5,345,000 | 20,390,618 | 4,467,622 | 5,345,000 | 24,858,240 | 30,203,240 | (10,916,753 | ) | 19,286,487 | 28,870,000 | ||||||||||||||||||||||||||||||
Schooner Bay II | Foster City, CA | 1985 | 144 | 4,550,000 | 18,064,764 | 4,093,294 | 4,550,000 | 22,158,058 | 26,708,058 | (9,848,801 | ) | 16,859,257 | 26,175,000 | ||||||||||||||||||||||||||||||
Surrey Downs | Bellevue, WA | 1986 | 122 | 3,057,100 | 7,848,618 | 2,309,004 | 3,057,100 | 10,157,622 | 13,214,722 | (5,582,575 | ) | 7,632,147 | 9,829,000 | ||||||||||||||||||||||||||||||
Virgil Square | Los Angeles, CA | 1979 | 142 | 5,500,000 | 15,216,613 | 1,659,199 | 5,500,000 | 16,875,812 | 22,375,812 | (5,932,912 | ) | 16,442,900 | 9,900,000 | ||||||||||||||||||||||||||||||
Wisconsin Place | Chevy Chase, MD | 2009 | 432 | — | 172,089,355 | 126,994 | — | 172,216,349 | 172,216,349 | (13,082,677 | ) | 159,133,672 | 143,605,310 | ||||||||||||||||||||||||||||||
Partially Owned Encumbered | 2,247 | 50,039,437 | 359,443,299 | 33,383,744 | 50,039,437 | 392,827,043 | 442,866,480 | (102,846,572 | ) | 340,019,908 | 334,672,310 | ||||||||||||||||||||||||||||||||
Portfolio/Entity Encumbrances (1) | 2,135,958,561 | ||||||||||||||||||||||||||||||||||||||||||
Total Consolidated Investment in Real Estate | 103,073 | $ | 6,887,475,376 | $ | 18,679,961,107 | $ | 1,233,511,917 | $ | 6,887,475,376 | $ | 19,913,473,024 | $ | 26,800,948,400 | $ | (4,807,709,322 | ) | $ | 21,993,239,078 | $ | 5,174,165,420 | |||||||||||||||||||||||
-1 | See attached Encumbrances Reconciliation | ||||||||||||||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
NOTES: | |||||||||||||||||||||||||||||||||||||||||||
(A) | The balance of furniture & fixtures included in the total investment in real estate amount was $1,214,220,221 as of December 31, 2013. | ||||||||||||||||||||||||||||||||||||||||||
(B) | The cost, net of accumulated depreciation, for Federal Income Tax purposes as of December 31, 2013 was approximately $15.2 billion. | ||||||||||||||||||||||||||||||||||||||||||
(C) | The life to compute depreciation for building is 30 years, for building improvements ranges from 5 to 15 years, for furniture & fixtures and replacements is 5 to 10 years, and for lease intangibles is the average remaining term of each respective lease. | ||||||||||||||||||||||||||||||||||||||||||
(D) | This asset consists of various acquisition dates and largely represents furniture, fixtures and equipment, leasehold improvements and capitalized software costs owned by the Management Business, which are generally depreciated over periods ranging from 3 to 7 years. | ||||||||||||||||||||||||||||||||||||||||||
(E) | Primarily represents capital expenditures for major maintenance and replacements incurred subsequent to each property’s acquisition date. | ||||||||||||||||||||||||||||||||||||||||||
(F) | Represents land and/or construction-in-progress on projects either held for future development or projects currently under development. | ||||||||||||||||||||||||||||||||||||||||||
(G) | A portion or all of these properties includes commercial space (retail, parking and/or office space). | ||||||||||||||||||||||||||||||||||||||||||
(H) | Total properties and units exclude four unconsolidated properties containing 1,669 apartment units and two Military Housing properties containing 5,113 units. | ||||||||||||||||||||||||||||||||||||||||||
(I) | through (L) See Encumbrances Reconciliation schedule. | ||||||||||||||||||||||||||||||||||||||||||
(M) | Boot property for Freddie Mac mortgage pool. | ||||||||||||||||||||||||||||||||||||||||||
(N) | Boot Property for Bond Partnership mortgage pool. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||
Basis of Presentation | ' | ||||||||||||
Basis of Presentation | |||||||||||||
Due to the Company’s ability as general partner to control either through ownership or by contract the Operating Partnership and its subsidiaries, the Operating Partnership and each such subsidiary has been consolidated with the Company for financial reporting purposes, except for one unconsolidated development property, four unconsolidated operating properties and our military housing properties. The consolidated financial statements also include all variable interest entities for which the Company is the primary beneficiary. | |||||||||||||
Noncontrolling interests represented by EQR's indirect 1% interest in various entities are immaterial and have not been accounted for in the Consolidated Financial Statements of the Operating Partnership. In addition, certain amounts due from EQR for its 1% interest in various entities have not been reflected in the consolidated balance sheets of the Operating Partnership since such amounts are immaterial. | |||||||||||||
Real Estate Assets And Depreciation Of Investment In Real Estate Policy Text Block | ' | ||||||||||||
Real Estate Assets and Depreciation of Investment in Real Estate | |||||||||||||
Effective for business combinations on or after January 1, 2009, an acquiring entity is required to recognize all assets acquired and liabilities assumed in a transaction at the acquisition-date fair value with limited exceptions. In addition, an acquiring entity is required to expense acquisition-related costs as incurred, value noncontrolling interests at fair value at the acquisition date and expense restructuring costs associated with an acquired business. | |||||||||||||
The Company allocates 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, the Company utilizes a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property, our own analysis of recently acquired and existing comparable properties in our portfolio and other market data. The Company also considers information obtained about each property as a result of its pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the tangible and intangible assets/liabilities acquired. The Company allocates the purchase price of acquired real estate to various components as follows: | |||||||||||||
• | Land – Based on actual purchase price adjusted to fair value (as necessary) if acquired separately or market research/comparables if acquired with an operating property. | ||||||||||||
• | Furniture, Fixtures and Equipment – Ranges between $3,000 and $13,000 per apartment unit acquired as an estimate of the fair value of the appliances and fixtures inside an apartment unit. The per-apartment unit amount applied depends on the type of apartment building acquired. Depreciation is calculated on the straight-line method over an estimated useful life of five to ten years. | ||||||||||||
• | Lease Intangibles – The Company considers the value of acquired in-place leases and above/below market leases and the amortization period is the average remaining term of each respective acquired lease. In-place residential leases' average term at acquisition approximates six months. See Note 4 for more information on above and below market leases. | ||||||||||||
• | Other Intangible Assets – The Company considers whether it has acquired other intangible assets, including any customer relationship intangibles and the amortization period is the estimated useful life of the acquired intangible asset. | ||||||||||||
• | Building – Based on the fair value determined on an “as-if vacant” basis. Depreciation is calculated on the straight-line method over an estimated useful life of thirty years. | ||||||||||||
• | Site Improvements – Based on replacement cost, which approximates fair value. Depreciation is calculated on the straight-line method over an estimated useful life of eight years. | ||||||||||||
• | Long-Term Debt – The Company calculates the fair value by discounting the remaining contractual cash flows on each instrument at the current market rate for those borrowings. | ||||||||||||
Replacements inside an apartment unit such as appliances and carpeting are depreciated over an estimated useful life of five to ten years. Expenditures for ordinary maintenance and repairs are expensed to operations as incurred and significant renovations and improvements that improve and/or extend the useful life of the asset are capitalized over their estimated useful life, generally five to fifteen years. Initial direct leasing costs are expensed as incurred as such expense approximates the deferral and amortization of initial direct leasing costs over the lease terms. Property sales or dispositions are recorded when title transfers to unrelated third parties, contingencies have been removed and sufficient cash consideration has been received by the Company. Upon disposition, the related costs and accumulated depreciation are removed from the respective accounts. Any gain or loss on sale is recognized in accordance with accounting principles generally accepted in the United States. | |||||||||||||
The Company classifies real estate assets as real estate held for disposition when it is certain a property will be disposed of (see further discussion below). | |||||||||||||
The Company classifies properties under development and/or expansion and properties in the lease-up phase (including land) as construction-in-progress until construction has been completed and all certificates of occupancy permits have been obtained. | |||||||||||||
Impairment of Long-Lived Assets | ' | ||||||||||||
Impairment of Long-Lived Assets | |||||||||||||
The Company periodically evaluates its long-lived assets, including its investments in real estate, for indicators of impairment. The judgments regarding the existence of impairment indicators are based on factors such as operational performance, market conditions and legal and environmental concerns, as well as the Company’s ability to hold and its intent with regard to each asset. Future events could occur which would cause the Company to conclude that impairment indicators exist and an impairment loss is warranted. If impairment indicators exist, the Company performs the following: | |||||||||||||
▪ | For long-lived assets to be held and used, the Company compares the expected future undiscounted cash flows for the long-lived asset against the carrying amount of that asset. If the sum of the estimated undiscounted cash flows is less than the carrying amount of the asset, the Company would record an impairment loss for the difference between the estimated fair value and the carrying amount of the asset. | ||||||||||||
▪ | For long-lived assets to be disposed of, an impairment loss is recognized when the estimated fair value of the asset, less the estimated cost to sell, is less than the carrying amount of the asset measured at the time that the Company has determined it will sell the asset. Long-lived assets held for disposition and the related liabilities are separately reported, with the long-lived assets reported at the lower of their carrying amounts or their estimated fair values, less their costs to sell, and are not depreciated after reclassification to real estate held for disposition. | ||||||||||||
Cost Capitalization | ' | ||||||||||||
Cost Capitalization | |||||||||||||
See the Real Estate Assets and Depreciation of Investment in Real Estate section for a discussion of the Company’s policy with respect to capitalization vs. expensing of fixed asset/repair and maintenance costs. In addition, the Company capitalizes an allocation of the payroll and associated costs of employees directly responsible for and who spend their time on the execution and supervision of major capital and/or renovation projects. These costs are reflected on the balance sheets as increases to depreciable property. | |||||||||||||
For all development projects, the Company uses its professional judgment in determining whether such costs meet the criteria for capitalization or must be expensed as incurred. The Company capitalizes interest, real estate taxes and insurance and payroll and associated costs for those individuals directly responsible for and who spend their time on development activities, with capitalization ceasing no later than 90 days following issuance of the certificate of occupancy. These costs are reflected on the balance sheets as construction-in-progress for each specific property. The Company expenses as incurred all payroll costs of on-site employees working directly at our properties, except as noted above on our development properties prior to certificate of occupancy issuance and on specific major renovations at selected properties when additional incremental employees are hired. | |||||||||||||
During the years ended December 31, 2013, 2012 and 2011, the Company capitalized $16.5 million, $14.3 million and $11.6 million, respectively, of payroll and associated costs of employees directly responsible for and who spend their time on the execution and supervision of development activities as well as major capital and/or renovation projects. | |||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
The Company considers all demand deposits, money market accounts and investments in certificates of deposit and repurchase agreements purchased with a maturity of three months or less at the date of purchase to be cash equivalents. The Company maintains its cash and cash equivalents at financial institutions. The combined account balances at one or more institutions typically exceed the Federal Depository Insurance Corporation (“FDIC”) insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. The Company believes that the risk is not significant, as the Company does not anticipate the financial institutions’ non-performance. | |||||||||||||
Investment Securities | ' | ||||||||||||
Investment Securities | |||||||||||||
Investment securities are included in other assets in the consolidated balance sheets. These securities are classified as held-to-maturity and carried at amortized cost if management has the positive intent and ability to hold the securities to maturity. Otherwise, the securities are classified as available-for-sale and carried at estimated fair value with unrealized gains and losses included in accumulated other comprehensive (loss), a separate component of shareholders’ equity/partners' capital. As of December 31, 2013, the Company did not hold any investment securities. | |||||||||||||
Deferred Financing Costs | ' | ||||||||||||
Deferred Financing Costs | |||||||||||||
Deferred financing costs include fees and costs incurred to obtain the Company’s lines of credit and long-term financings. These costs are amortized over the terms of the related debt. Unamortized financing costs are written off when debt is retired before the maturity date. The accumulated amortization of such deferred financing costs was $33.4 million and $32.2 million at December 31, 2013 and 2012, respectively. | |||||||||||||
Fair Value of Financial Instruments, Including Derivative Instruments | ' | ||||||||||||
Fair Value of Financial Instruments, Including Derivative Instruments | |||||||||||||
The valuation of financial instruments requires the Company to make estimates and judgments that affect the fair value of the instruments. The Company, where possible, bases the fair values of its financial instruments, including its derivative instruments, on listed market prices and third party quotes. Where these are not available, the Company bases its estimates on current instruments with similar terms and maturities or on other factors relevant to the financial instruments. | |||||||||||||
In the normal course of business, the Company is exposed to the effect of interest rate changes. The Company seeks to manage these risks by following established risk management policies and procedures including the use of derivatives to hedge interest rate risk on debt instruments. The Company may also use derivatives to manage its exposure to foreign exchange rates or manage commodity prices in the daily operations of the business. | |||||||||||||
The Company has a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors. When viewed in conjunction with the underlying and offsetting exposure that the derivatives are designed to hedge, the Company has not sustained a material loss from these instruments nor does it anticipate any material adverse effect on its net income or financial position in the future from the use of derivatives it currently has in place. | |||||||||||||
The Company recognizes all derivatives as either assets or liabilities in the consolidated balance sheets and measures those instruments at fair value. In addition, fair value adjustments will affect either shareholders’ equity/partners' capital or net income depending on whether the derivative instruments qualify as a hedge for accounting purposes and, if so, the nature of the hedging activity. When the terms of an underlying transaction are modified, or when the underlying transaction is terminated or completed, all changes in the fair value of the instrument are marked-to-market with changes in value included in net income each period until the instrument matures. Any derivative instrument used for risk management that does not meet the hedging criteria is marked-to-market each period. The Company does not use derivatives for trading or speculative purposes. | |||||||||||||
Revenue Recognition | ' | ||||||||||||
Revenue Recognition | |||||||||||||
Rental income attributable to leases is recorded on a straight-line basis, which is not materially different than if it were recorded when due from residents and recognized monthly as it was earned. Leases entered into between a resident and a property for the rental of an apartment unit are generally year-to-year, renewable upon consent of both parties on an annual or monthly basis. Retail/commercial leases generally have five to ten year lease terms with market based renewal options. Fee and asset management revenue and interest income are recorded on an accrual basis. | |||||||||||||
Share-Based Compensation | ' | ||||||||||||
Share-Based Compensation | |||||||||||||
The Company expenses share-based compensation such as restricted shares and share options. Any common share of beneficial interest, $0.01 par value per share (the "Common Shares") issued pursuant to EQR's incentive equity compensation and employee share purchase plans will result in ERPOP issuing units of limited partnership interest ("OP Units") to EQR on a one-for-one basis, with ERPOP receiving the net cash proceeds of such issuances. | |||||||||||||
The fair value of the option grants are recognized over the requisite service/vesting period of the options. The fair value for the Company's share options was estimated at the time the share options were granted using the Black-Scholes option pricing model with the primary grant in each year having the following weighted average assumptions: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected volatility (1) | 26.90% | 27.40% | 27.10% | ||||||||||
Expected life (2) | 5 years | 5 years | 5 years | ||||||||||
Expected dividend yield (3) | 4.12% | 4.35% | 4.56% | ||||||||||
Risk-free interest rate (4) | 0.84% | 0.71% | 2.27% | ||||||||||
Option valuation per share | $7.90 | $8.54 | $8.36 | ||||||||||
-1 | Expected volatility – Estimated based on the historical ten-year volatility of EQR’s share price measured on a monthly basis. | ||||||||||||
-2 | Expected life – Approximates the actual weighted average life of all share options granted since the Company went public in 1993. | ||||||||||||
-3 | Expected dividend yield – Calculated by averaging the historical annual yield on EQR shares for a period matching the expected life of each grant, with the annual yield calculated by dividing actual dividends by the average price of EQR’s shares in a given year. | ||||||||||||
-4 | Risk-free interest rate – The most current U.S. Treasury rate available prior to the grant date for a period matching the expected life of each grant. | ||||||||||||
The valuation method and assumptions are the same as those the Company used in accounting for option expense in its consolidated financial statements. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. This model is only one method of valuing options. Because the Company’s share options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, the actual value of the options to the recipient may be significantly different. | |||||||||||||
Income and Other Taxes | ' | ||||||||||||
Income and Other Taxes | |||||||||||||
Due to the structure of EQR as a REIT and the nature of the operations of its operating properties, no provision for federal income taxes has been made at the EQR level. In addition, ERPOP generally is not liable for federal income taxes as the partners recognize their proportionate share of income or loss in their tax returns; therefore no provision for federal income taxes has been made at the ERPOP level. Historically, the Company has generally only incurred certain state and local income, excise and franchise taxes. The Company has elected Taxable REIT Subsidiary (“TRS”) status for certain of its corporate subsidiaries and as a result, these entities will incur both federal and state income taxes on any taxable income of such entities after consideration of any net operating losses. | |||||||||||||
Deferred tax assets and liabilities applicable to the TRS are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. These assets and liabilities are measured using enacted tax rates for which the temporary differences are expected to be recovered or settled. The effects of changes in tax rates on deferred tax assets and liabilities are recognized in earnings in the period enacted. The Company’s deferred tax assets are generally the result of tax affected suspended interest deductions, net operating losses, differing depreciable lives on capitalized assets and the timing of expense recognition for certain accrued liabilities. As of December 31, 2013, the Company has recorded a deferred tax asset of approximately $79.6 million, which is fully offset by a valuation allowance due to the uncertainty in forecasting future TRS taxable income. | |||||||||||||
The Company provided for income, franchise and excise taxes allocated as follows in the consolidated statements of operations and comprehensive income for the years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income and other tax expense (benefit) (1) | $ | 1,169 | $ | 514 | $ | 706 | |||||||
Discontinued operations, net (2) | 449 | 34 | (221 | ) | |||||||||
Provision for income, franchise and excise taxes (3) | $ | 1,618 | $ | 548 | $ | 485 | |||||||
-1 | Primarily includes state and local income, excise and franchise taxes. | ||||||||||||
-2 | Primarily represents federal income taxes (recovered) on the gains on sales of land parcels and condominium units owned by a TRS and included in discontinued operations. Also represents state and local income, excise and franchise taxes on operating properties sold and included in discontinued operations. | ||||||||||||
-3 | All provisions for income tax amounts are current and none are deferred. | ||||||||||||
The Company’s TRSs have approximately $63.1 million of NOL carryforwards available as of January 1, 2014 that will expire between 2028 and 2032. | |||||||||||||
During the years ended December 31, 2013, 2012 and 2011, the Company’s tax treatment of dividends and distributions were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Tax treatment of dividends and distributions: | |||||||||||||
Ordinary dividends | $ | 0.662 | $ | 1.375 | $ | 0.667 | |||||||
Qualified dividends | 0.05 | — | — | ||||||||||
Long-term capital gain | 0.87 | 0.253 | 0.629 | ||||||||||
Unrecaptured section 1250 gain | 0.268 | 0.152 | 0.284 | ||||||||||
Dividends and distributions declared per | |||||||||||||
Common Share/Unit outstanding | $ | 1.85 | $ | 1.78 | $ | 1.58 | |||||||
The cost of land and depreciable property, net of accumulated depreciation, for federal income tax purposes as of December 31, 2013 and 2012 was approximately $15.2 billion and $11.2 billion, respectively. | |||||||||||||
Noncontrolling Interests | ' | ||||||||||||
Noncontrolling Interests | |||||||||||||
A noncontrolling interest in a subsidiary (minority interest) is in most cases an ownership interest in the consolidated entity that should be reported as equity in the consolidated financial statements and separate from the parent company's equity. In addition, consolidated net income is required to be reported at amounts that include the amounts attributable to both the parent and the noncontrolling interest and the amount of consolidated net income attributable to the parent and the noncontrolling interest are required to be disclosed on the face of the consolidated statements of operations and comprehensive income. See Note 3 for further discussion. | |||||||||||||
Operating Partnership: Net income is allocated to noncontrolling interests based on their respective ownership percentage of the Operating Partnership. The ownership percentage is calculated by dividing the number of OP Units held by the noncontrolling interests by the total OP Units held by the noncontrolling interests and EQR. Issuance of additional Common Shares and OP Units changes the ownership interests of both the noncontrolling interests and EQR. Such transactions and the related proceeds are treated as capital transactions. | |||||||||||||
Partially Owned Properties: The Company reflects noncontrolling interests in partially owned properties on the balance sheet for the portion of properties consolidated by the Company that are not wholly owned by the Company. The earnings or losses from those properties attributable to the noncontrolling interests are reflected as noncontrolling interests in partially owned properties in the consolidated statements of operations and comprehensive income. | |||||||||||||
Partners' Capital | |||||||||||||
The "Limited Partners" of ERPOP include various individuals and entities that contributed their properties to ERPOP in exchange for OP Units. The "General Partner" of ERPOP is EQR. Net income is allocated to the Limited Partners based on their respective ownership percentage of the Operating Partnership. The ownership percentage is calculated by dividing the number of OP Units held by the Limited Partners by the total OP Units held by the Limited Partners and the General Partner. Issuance of additional Common Shares and OP Units changes the ownership interests of both the Limited Partners and EQR. Such transactions and the related proceeds are treated as capital transactions. | |||||||||||||
Redeemable Noncontrolling Interests – Operating Partnership / Redeemable Limited Partners | |||||||||||||
The Company classifies Redeemable Noncontrolling Interests – Operating Partnership / Redeemable Limited Partners in the mezzanine section of the consolidated balance sheets for the portion of OP Units that EQR is required, either by contract or securities law, to deliver registered Common Shares to the exchanging OP Unit holder. The redeemable noncontrolling interest units / redeemable limited partner units are adjusted to the greater of carrying value or fair market value based on the Common Share price of EQR at the end of each respective reporting period. See Note 3 for further discussion. | |||||||||||||
Use of Estimates | ' | ||||||||||||
Use of Estimates | |||||||||||||
In preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | |||||||||||||
Reclassifications | ' | ||||||||||||
Reclassifications | |||||||||||||
Certain reclassifications considered necessary for a fair presentation have been made to the prior period financial statements in order to conform to the current year presentation. These reclassifications have not changed the results of operations or equity/capital. | |||||||||||||
Other | ' | ||||||||||||
Other | |||||||||||||
The Company is the controlling partner in various consolidated partnerships owning 19 properties and 3,752 apartment units and various completed and uncompleted development properties having a noncontrolling interest book value of $126.6 million at December 31, 2013. The Company is required to make certain disclosures regarding noncontrolling interests in consolidated limited-life subsidiaries. Of the consolidated entities described above, the Company is the controlling partner in limited-life partnerships owning six properties having a noncontrolling interest deficit balance of $9.8 million. These six partnership agreements contain provisions that require the partnerships to be liquidated through the sale of their assets upon reaching a date specified in each respective partnership agreement. The Company, as controlling partner, has an obligation to cause the property owning partnerships to distribute the proceeds of liquidation to the Noncontrolling Interests in these Partially Owned Properties only to the extent that the net proceeds received by the partnerships from the sale of their assets warrant a distribution based on the partnership agreements. As of December 31, 2013, the Company estimates the value of Noncontrolling Interest distributions for these six properties would have been approximately $51.2 million (“Settlement Value”) had the partnerships been liquidated. This Settlement Value is based on estimated third party consideration realized by the partnerships upon disposition of the six Partially Owned Properties and is net of all other assets and liabilities, including yield maintenance on the mortgages encumbering the properties, that would have been due on December 31, 2013 had those mortgages been prepaid. Due to, among other things, the inherent uncertainty in the sale of real estate assets, the amount of any potential distribution to the Noncontrolling Interests in the Company's Partially Owned Properties is subject to change. To the extent that the partnerships' underlying assets are worth less than the underlying liabilities, the Company has no obligation to remit any consideration to the Noncontrolling Interests in these Partially Owned Properties. | |||||||||||||
Effective January 1, 2011, companies are required to separately disclose purchases, sales, issuances and settlements on a gross basis in the reconciliation of recurring Level 3 fair value measurements. This does not have a material effect on the Company’s consolidated results of operations or financial position. See Note 9 for further discussion. | |||||||||||||
Effective January 1, 2012, companies are required to separately disclose the amounts and reasons for any transfers of assets and liabilities into and out of Level 1 and Level 2 of the fair value hierarchy. For fair value measurements using significant unobservable inputs (Level 3), companies are required to disclose quantitative information about the significant unobservable inputs used for all Level 3 measurements and a description of the Company's valuation processes in determining fair value. In addition, companies are required to provide a qualitative discussion about the sensitivity of recurring Level 3 measurements to changes in the unobservable inputs disclosed, including the interrelationship between inputs. Companies are also required to disclose information about when the current use of a non-financial asset measured at fair value differs from its highest and best use and the hierarchy classification for items whose fair value is not recorded on the balance sheet but is disclosed in the notes. This does not have a material effect on the Company's consolidated results of operations or financial position. See Notes 4 and 9 for further discussion. | |||||||||||||
Effective January 1, 2013, companies are required to report, in one place, information about reclassifications out of accumulated other comprehensive income ("AOCI"). Companies are also required to report changes in AOCI balances. For significant items reclassified out of AOCI to net income in their entirety in the same reporting period, reporting is required about the effect of the reclassifications on the respective line items in the statement where net income is presented. For items that are not reclassified to net income in their entirety in the same reporting period, a cross reference to other disclosures currently required under US GAAP is required in the notes. This does not have a material effect on the Company's consolidated results of operations or financial position. See Note 9 for further discussion. | |||||||||||||
Effective January 1, 2014, companies will be required to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of the amount a company agreed to pay on the basis of its arrangement among its co-obligors and any additional amount a company expects to pay on behalf of its co-obligors. Companies will also be required to disclose the nature and amount of the obligation as well as other information about those obligations. The Company does not expect that this will have a material effect on its consolidated results of operations or financial position. | |||||||||||||
Effective January 1, 2009, issuers of certain convertible debt instruments that may be settled in cash on conversion were required to separately account for the liability and equity components of the instrument in a manner that reflects each issuer's nonconvertible debt borrowing rate. As the Company was required to apply this retrospectively, the accounting for its $650.0 million 3.85% convertible unsecured notes that were issued in August 2006 with a final maturity in August 2026 was affected. On August 18, 2011, the Company redeemed these notes at par ($482.5 million was outstanding on August 18, 2011) and no premium was paid. The Company recognized $11.8 million in interest expense related to the stated coupon rate of 3.85% for the year ended December 31, 2011. The amount of the conversion option as of the date of issuance calculated by the Company using a 5.80% effective interest rate was $44.3 million and was amortized to interest expense over the expected life of the convertible notes (through the first put date on August 18, 2011). Total amortization of the cash discount and conversion option discount on the unsecured notes resulted in a reduction to earnings of approximately $5.0 million or $0.02 per share/Unit for the year ended December 31, 2011. In addition, the Company decreased the January 1, 2009 balance of retained earnings (included in general partner's capital in the Operating Partnership's financial statements) by $27.0 million, decreased the January 1, 2009 balance of notes by $17.3 million and increased the January 1, 2009 balance of paid in capital (included in general partner's capital in the Operating Partnership's financial statements) by $44.3 million. |
Business_Tables
Business (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Business [Abstract] | ' | ||||||
Property/Unit schedule | ' | ||||||
The ownership breakdown includes (table does not include various uncompleted development properties): | |||||||
Properties | Apartment Units | ||||||
Wholly Owned Properties | 362 | 98,468 | |||||
Master-Leased Properties – Consolidated | 3 | 853 | |||||
Partially Owned Properties – Consolidated | 19 | 3,752 | |||||
Partially Owned Properties – Unconsolidated | 4 | 1,669 | |||||
Military Housing | 2 | 5,113 | |||||
390 | 109,855 | ||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Table Text Block] | ' | ||||||||||||
The fair value for the Company's share options was estimated at the time the share options were granted using the Black-Scholes option pricing model with the primary grant in each year having the following weighted average assumptions: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected volatility (1) | 26.90% | 27.40% | 27.10% | ||||||||||
Expected life (2) | 5 years | 5 years | 5 years | ||||||||||
Expected dividend yield (3) | 4.12% | 4.35% | 4.56% | ||||||||||
Risk-free interest rate (4) | 0.84% | 0.71% | 2.27% | ||||||||||
Option valuation per share | $7.90 | $8.54 | $8.36 | ||||||||||
-1 | Expected volatility – Estimated based on the historical ten-year volatility of EQR’s share price measured on a monthly basis. | ||||||||||||
-2 | Expected life – Approximates the actual weighted average life of all share options granted since the Company went public in 1993. | ||||||||||||
-3 | Expected dividend yield – Calculated by averaging the historical annual yield on EQR shares for a period matching the expected life of each grant, with the annual yield calculated by dividing actual dividends by the average price of EQR’s shares in a given year. | ||||||||||||
-4 | Risk-free interest rate – The most current U.S. Treasury rate available prior to the grant date for a period matching the expected life of each grant. | ||||||||||||
Allocation Of Income Franchise And Excise Taxes In Consolidated Statements Of Operations [Table Text Block] | ' | ||||||||||||
The Company provided for income, franchise and excise taxes allocated as follows in the consolidated statements of operations and comprehensive income for the years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income and other tax expense (benefit) (1) | $ | 1,169 | $ | 514 | $ | 706 | |||||||
Discontinued operations, net (2) | 449 | 34 | (221 | ) | |||||||||
Provision for income, franchise and excise taxes (3) | $ | 1,618 | $ | 548 | $ | 485 | |||||||
-1 | Primarily includes state and local income, excise and franchise taxes. | ||||||||||||
-2 | Primarily represents federal income taxes (recovered) on the gains on sales of land parcels and condominium units owned by a TRS and included in discontinued operations. Also represents state and local income, excise and franchise taxes on operating properties sold and included in discontinued operations. | ||||||||||||
-3 | All provisions for income tax amounts are current and none are deferred. | ||||||||||||
Tax Treatment Of Dividends And Distributions [Table Text Block] | ' | ||||||||||||
During the years ended December 31, 2013, 2012 and 2011, the Company’s tax treatment of dividends and distributions were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Tax treatment of dividends and distributions: | |||||||||||||
Ordinary dividends | $ | 0.662 | $ | 1.375 | $ | 0.667 | |||||||
Qualified dividends | 0.05 | — | — | ||||||||||
Long-term capital gain | 0.87 | 0.253 | 0.629 | ||||||||||
Unrecaptured section 1250 gain | 0.268 | 0.152 | 0.284 | ||||||||||
Dividends and distributions declared per | |||||||||||||
Common Share/Unit outstanding | $ | 1.85 | $ | 1.78 | $ | 1.58 | |||||||
Equity_Capital_and_Other_Inter1
Equity, Capital and Other Interests (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Common shares and units rollforward | ' | ||||||||||||||
The following tables present the changes in the Company’s issued and outstanding Common Shares and “Units” (which includes OP Units and Long-Term Incentive Plan (“LTIP”) Units) for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Common Shares | |||||||||||||||
Common Shares outstanding at January 1, | 325,054,654 | 297,508,185 | 290,197,242 | ||||||||||||
Common Shares Issued: | |||||||||||||||
Conversion of OP Units | 67,939 | 675,817 | 341,594 | ||||||||||||
Issuance of Common Shares | 34,468,085 | 25,023,919 | 3,866,666 | ||||||||||||
Exercise of share options | 586,017 | 1,608,427 | 2,945,948 | ||||||||||||
Employee Share Purchase Plan (ESPP) | 73,468 | 110,054 | 113,107 | ||||||||||||
Restricted share grants, net | 229,097 | 128,252 | 145,616 | ||||||||||||
Common Shares Other: | |||||||||||||||
Conversion of restricted shares to LTIP Units | — | — | (101,988 | ) | |||||||||||
Common Shares outstanding at December 31, | 360,479,260 | 325,054,654 | 297,508,185 | ||||||||||||
Units | |||||||||||||||
Units outstanding at January 1, | 13,968,758 | 13,492,543 | 13,612,037 | ||||||||||||
LTIP Units, net | 279,557 | 70,235 | 120,112 | ||||||||||||
OP Units issued through acquisitions | — | 1,081,797 | — | ||||||||||||
Conversion of restricted shares to LTIP Units | — | — | 101,988 | ||||||||||||
Conversion of OP Units to Common Shares | (67,939 | ) | (675,817 | ) | (341,594 | ) | |||||||||
Units outstanding at December 31, | 14,180,376 | 13,968,758 | 13,492,543 | ||||||||||||
Total Common Shares and Units outstanding at December 31, | 374,659,636 | 339,023,412 | 311,000,728 | ||||||||||||
Units Ownership Interest in Operating Partnership | 3.8 | % | 4.1 | % | 4.3 | % | |||||||||
OP Units Issued: | |||||||||||||||
Acquisitions – per unit | — | $61.57 | — | ||||||||||||
Acquisitions – valuation | — | $66.6 million | — | ||||||||||||
Redeemable Noncontrolling Interest [Table Text Block] | ' | ||||||||||||||
The following table presents the changes in the redemption value of the Redeemable Noncontrolling Interests – Operating Partnership for the years ended December 31, 2013, 2012 and 2011, respectively (amounts in thousands): | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Balance at January 1, | $ | 398,372 | $ | 416,404 | $ | 383,540 | |||||||||
Change in market value | (79,667 | ) | (38,734 | ) | 22,714 | ||||||||||
Change in carrying value | 44,439 | 20,702 | 10,150 | ||||||||||||
Balance at December 31, | $ | 363,144 | $ | 398,372 | $ | 416,404 | |||||||||
Schedule Of Preferred Stock [Table Text Block] | ' | ||||||||||||||
The following table presents the Company’s issued and outstanding Preferred Shares as of December 31, 2013 and 2012: | |||||||||||||||
Amounts in thousands | |||||||||||||||
Redemption | Annual | December 31, 2013 | 31-Dec-12 | ||||||||||||
Date (1) | Dividend per | ||||||||||||||
Share (2) | |||||||||||||||
Preferred Shares of beneficial interest, $0.01 par value; | |||||||||||||||
100,000,000 shares authorized: | |||||||||||||||
8.29% Series K Cumulative Redeemable Preferred; liquidation | 12/10/26 | $4.14 | $ | 50,000 | $ | 50,000 | |||||||||
value $50 per share; 1,000,000 shares issued and outstanding | |||||||||||||||
at December 31, 2013 and December 31, 2012 | |||||||||||||||
$ | 50,000 | $ | 50,000 | ||||||||||||
Limited Partner [Member] | ' | ||||||||||||||
Common shares and units rollforward | ' | ||||||||||||||
The following tables present the changes in the Operating Partnership's issued and outstanding Units and in the limited partners' Units for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
General and Limited Partner Units | |||||||||||||||
General and Limited Partner Units outstanding at January 1, | 339,023,412 | 311,000,728 | 303,809,279 | ||||||||||||
Issued to General Partner: | |||||||||||||||
Issuance of OP Units | 34,468,085 | 25,023,919 | 3,866,666 | ||||||||||||
Exercise of EQR share options | 586,017 | 1,608,427 | 2,945,948 | ||||||||||||
EQR's Employee Share Purchase Plan (ESPP) | 73,468 | 110,054 | 113,107 | ||||||||||||
EQR's restricted share grants, net | 229,097 | 128,252 | 145,616 | ||||||||||||
Issued to Limited Partners: | |||||||||||||||
LTIP Units, net | 279,557 | 70,235 | 120,112 | ||||||||||||
OP Units issued through acquisitions | — | 1,081,797 | — | ||||||||||||
General and Limited Partner Units outstanding at December 31, | 374,659,636 | 339,023,412 | 311,000,728 | ||||||||||||
Limited Partner Units | |||||||||||||||
Limited Partner Units outstanding at January 1, | 13,968,758 | 13,492,543 | 13,612,037 | ||||||||||||
Limited Partner LTIP Units, net | 279,557 | 70,235 | 120,112 | ||||||||||||
Limited Partner OP Units issued through acquisitions | — | 1,081,797 | — | ||||||||||||
Conversion of EQR restricted shares to LTIP Units | — | — | 101,988 | ||||||||||||
Conversion of Limited Partner OP Units to EQR Common Shares | (67,939 | ) | (675,817 | ) | (341,594 | ) | |||||||||
Limited Partner Units outstanding at December 31, | 14,180,376 | 13,968,758 | 13,492,543 | ||||||||||||
Limited Partner Units Ownership Interest in Operating Partnership | 3.8 | % | 4.1 | % | 4.3 | % | |||||||||
Limited Partner OP Units Issued: | |||||||||||||||
Acquisitions – per unit | — | $61.57 | — | ||||||||||||
Acquisitions – valuation | — | $66.6 million | — | ||||||||||||
Redeemable Noncontrolling Interest [Table Text Block] | ' | ||||||||||||||
The following table presents the changes in the redemption value of the Redeemable Limited Partners for the years ended December 31, 2013, 2012 and 2011, respectively (amounts in thousands): | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Balance at January 1, | $ | 398,372 | $ | 416,404 | $ | 383,540 | |||||||||
Change in market value | (79,667 | ) | (38,734 | ) | 22,714 | ||||||||||
Change in carrying value | 44,439 | 20,702 | 10,150 | ||||||||||||
Balance at December 31, | $ | 363,144 | $ | 398,372 | $ | 416,404 | |||||||||
Schedule Of Preferred Stock [Table Text Block] | ' | ||||||||||||||
The following table presents the Operating Partnership's issued and outstanding “Preference Units” as of December 31, 2013 and 2012: | |||||||||||||||
Amounts in thousands | |||||||||||||||
Redemption | Annual | December 31, 2013 | 31-Dec-12 | ||||||||||||
Date (1) | Dividend per | ||||||||||||||
Unit (2) | |||||||||||||||
Preference Units: | |||||||||||||||
8.29% Series K Cumulative Redeemable Preference Units; | 12/10/26 | $4.14 | $ | 50,000 | $ | 50,000 | |||||||||
liquidation value $50 per unit; 1,000,000 units issued and | |||||||||||||||
outstanding at December 31, 2013 and December 31, 2012 | |||||||||||||||
$ | 50,000 | $ | 50,000 | ||||||||||||
Real_Estate_Tables
Real Estate (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Schedule Of Real Estate Investments And Accumulated Depreciation [Table Text Block] | ' | ||||||||||||||||||||
The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of December 31, 2013 and 2012 (amounts in thousands): | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Land | $ | 6,192,512 | $ | 4,554,912 | |||||||||||||||||
Depreciable property: | |||||||||||||||||||||
Buildings and improvements | 17,509,609 | 14,135,740 | |||||||||||||||||||
Furniture, fixtures and equipment | 1,214,220 | 1,343,765 | |||||||||||||||||||
In-Place lease intangibles | 502,218 | 232,439 | |||||||||||||||||||
Projects under development: | |||||||||||||||||||||
Land | 353,574 | 210,632 | |||||||||||||||||||
Construction-in-progress | 635,293 | 177,118 | |||||||||||||||||||
Land held for development: | |||||||||||||||||||||
Land | 341,389 | 294,868 | |||||||||||||||||||
Construction-in-progress | 52,133 | 58,955 | |||||||||||||||||||
Investment in real estate | 26,800,948 | 21,008,429 | |||||||||||||||||||
Accumulated depreciation | (4,807,709 | ) | (4,912,221 | ) | |||||||||||||||||
Investment in real estate, net | $ | 21,993,239 | $ | 16,096,208 | |||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||||||||||||
The following table summarizes the carrying amounts for the Company's above and below market ground and retail lease intangibles as of December 31, 2013 (amounts in thousands): | |||||||||||||||||||||
Description | Balance Sheet Location | Value | |||||||||||||||||||
Assets | |||||||||||||||||||||
Ground lease intangibles – below market | Other Assets | $ | 178,251 | ||||||||||||||||||
Retail lease intangibles – above market | Other Assets | 1,260 | |||||||||||||||||||
Lease intangible assets | 179,511 | ||||||||||||||||||||
Accumulated amortization | (4,364 | ) | |||||||||||||||||||
Lease intangible assets, net | $ | 175,147 | |||||||||||||||||||
Liabilities | |||||||||||||||||||||
Ground lease intangibles – above market | Other Liabilities | $ | 2,400 | ||||||||||||||||||
Retail lease intangibles – below market | Other Liabilities | 5,500 | |||||||||||||||||||
Lease intangible liabilities | 7,900 | ||||||||||||||||||||
Accumulated amortization | (1,161 | ) | |||||||||||||||||||
Lease intangible liabilities, net | $ | 6,739 | |||||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||||||||||||
The following table provides a summary of the aggregate amortization expense for above and below market ground lease intangibles and retail lease intangibles for each of the next five years (amounts in thousands): | |||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||||||
Ground lease intangibles | $ | 4,321 | $ | 4,321 | $ | 4,321 | $ | 4,321 | $ | 4,321 | |||||||||||
Retail lease intangibles | (1,010 | ) | (1,016 | ) | (908 | ) | (540 | ) | (71 | ) | |||||||||||
Total | $ | 3,311 | $ | 3,305 | $ | 3,413 | $ | 3,781 | $ | 4,250 | |||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||||||||||||||||||
The following table summarizes the acquisition date fair values of the assets acquired and liabilities assumed, which the Company determined using Level 1, Level 2 and Level 3 inputs (amounts in thousands): | |||||||||||||||||||||
Land | $ | 2,239,000 | |||||||||||||||||||
Depreciable property: | |||||||||||||||||||||
Buildings and improvements | 5,805,467 | ||||||||||||||||||||
Furniture, fixtures and equipment | 61,470 | ||||||||||||||||||||
In-Place lease intangibles | 304,830 | ||||||||||||||||||||
Projects under development | 36,583 | ||||||||||||||||||||
Land held for development | 244,097 | ||||||||||||||||||||
Investments in unconsolidated entities | 196,615 | ||||||||||||||||||||
Other assets | 195,260 | ||||||||||||||||||||
Other liabilities | (112,107 | ) | |||||||||||||||||||
Net assets acquired | $ | 8,971,215 | |||||||||||||||||||
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | ' | ||||||||||||||||||||
The following table summarizes the acquisition date fair values of the above and below market ground and retail lease intangibles, which we determined using Level 2 and Level 3 inputs (amounts in thousands): | |||||||||||||||||||||
Description | Balance Sheet Location | Fair Value | |||||||||||||||||||
Ground lease intangibles – below market | Other Assets | $ | 178,251 | ||||||||||||||||||
Retail lease intangibles – above market | Other Assets | 1,260 | |||||||||||||||||||
Ground lease intangibles – above market | Other Liabilities | 2,400 | |||||||||||||||||||
Retail lease intangibles – below market | Other Liabilities | 8,040 | |||||||||||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||||||||||||||||
The following table illustrates the effect on net income, earnings per share – basic and earnings per share – diluted as if the Company had consummated the Archstone Acquisition as of January 1, 2012: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(Amounts in thousands, except per share amounts) | |||||||||||||||||||||
Total revenues | $ | 2,485,438 | $ | 2,317,699 | |||||||||||||||||
Income (loss) from continuing operations (1) | 203,286 | (54,940 | ) | ||||||||||||||||||
Discontinued operations, net | 2,074,072 | 720,361 | |||||||||||||||||||
Net income | 2,277,358 | 665,421 | |||||||||||||||||||
Net income available to Common Shares | 2,183,756 | 622,424 | |||||||||||||||||||
Earnings per share - basic: | |||||||||||||||||||||
Net income available to Common Shares | $ | 6.07 | $ | 1.74 | |||||||||||||||||
Weighted average Common Shares outstanding (2) | 359,688 | 356,984 | |||||||||||||||||||
Earnings per share - diluted (1): | |||||||||||||||||||||
Net income available to Common Shares | $ | 6.05 | $ | 1.74 | |||||||||||||||||
Weighted average Common Shares outstanding (2) | 375,861 | 356,984 | |||||||||||||||||||
Acquired Properties Table | ' | ||||||||||||||||||||
In addition to the Archstone Acquisition described above, during the year ended December 31, 2013, the Company acquired the entire equity interest in the following from unaffiliated parties (purchase price in thousands): | |||||||||||||||||||||
Properties | Apartment Units | Purchase Price | |||||||||||||||||||
Rental Properties – Consolidated | 1 | 322 | $ | 91,500 | |||||||||||||||||
Land Parcel (one) | — | — | 16,500 | ||||||||||||||||||
Total | 1 | 322 | $ | 108,000 | |||||||||||||||||
During the year ended December 31, 2012, the Company acquired the entire equity interest in the following from unaffiliated parties (purchase price in thousands): | |||||||||||||||||||||
Properties | Apartment Units | Purchase Price | |||||||||||||||||||
Rental Properties – Consolidated | 9 | 1,896 | $ | 906,305 | |||||||||||||||||
Land Parcel (six) | — | — | 141,240 | ||||||||||||||||||
Total | 9 | 1,896 | $ | 1,047,545 | |||||||||||||||||
Disposed Properties Table | ' | ||||||||||||||||||||
During the year ended December 31, 2013, the Company disposed of the following to unaffiliated parties (sales price in thousands): | |||||||||||||||||||||
Properties | Apartment Units | Sales Price | |||||||||||||||||||
Consolidated: | |||||||||||||||||||||
Rental Properties | 94 | 29,180 | $ | 4,459,339 | |||||||||||||||||
Land Parcels (seven) | — | — | 99,650 | ||||||||||||||||||
Other (1) | — | — | 30,734 | ||||||||||||||||||
Unconsolidated: | |||||||||||||||||||||
Land Parcel (one) (2) | — | — | 26,350 | ||||||||||||||||||
Total | 94 | 29,180 | $ | 4,616,073 | |||||||||||||||||
(1) Represents a 97,000 square foot commercial building adjacent to our Harbor Steps apartment property in downtown Seattle that was acquired in 2011. | |||||||||||||||||||||
(2) Sales price listed is the gross sales price. EQR's share of the net sales proceeds approximated 25%. | |||||||||||||||||||||
The Company recognized a net gain on sales of discontinued operations of approximately $2.0 billion and a net gain on sales of land parcels of approximately $12.2 million on the above sales. | |||||||||||||||||||||
During the year ended December 31, 2012, the Company disposed of the following to unaffiliated parties (sales price in thousands): | |||||||||||||||||||||
Properties | Apartment Units | Sales Price | |||||||||||||||||||
Rental Properties – Consolidated | 35 | 9,012 | $ | 1,061,334 | |||||||||||||||||
Total | 35 | 9,012 | $ | 1,061,334 | |||||||||||||||||
The Company recognized a net gain on sales of discontinued operations of approximately $548.3 million on the above sales. | |||||||||||||||||||||
Partnership Interest [Member] | ' | ||||||||||||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||||||||||||||||
The following table illustrates the effect on net income, earnings per Unit – basic and earnings per Unit – diluted as if the Operating Partnership had consummated the Archstone Acquisition as of January 1, 2012: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(Amounts in thousands, except per Unit amounts) | |||||||||||||||||||||
Total revenues | $ | 2,485,438 | $ | 2,317,699 | |||||||||||||||||
Income (loss) from continuing operations (1) | 203,286 | (54,940 | ) | ||||||||||||||||||
Discontinued operations, net | 2,074,072 | 720,361 | |||||||||||||||||||
Net income | 2,277,358 | 665,421 | |||||||||||||||||||
Net income available to Units | 2,273,798 | 651,548 | |||||||||||||||||||
Earnings per Unit - basic: | |||||||||||||||||||||
Net income available to Units | $ | 6.07 | $ | 1.74 | |||||||||||||||||
Weighted average Units outstanding (2) | 373,421 | 370,837 | |||||||||||||||||||
Earnings per Unit - diluted (1): | |||||||||||||||||||||
Net income available to Units | $ | 6.05 | $ | 1.74 | |||||||||||||||||
Weighted average Units outstanding (2) | 375,861 | 370,837 | |||||||||||||||||||
Commitments_to_AcquireDispose_1
Commitments to Acquire/Dispose of Real Estate (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Commitments to Acquire Dispose of Real Estate [Abstract] | ' | |||||||||
Real Estate to be Acquired Table Text Block | ' | |||||||||
In addition to the property that was subsequently acquired as discussed in Note 18, the Company has entered into a separate agreement to acquire the following (purchase price in thousands): | ||||||||||
Properties | Apartment Units | Purchase Price | ||||||||
Land Parcel (one) | — | — | $ | 10,290 | ||||||
Total | — | — | $ | 10,290 | ||||||
Disposed Properties Table Text Block | ' | |||||||||
The Company has entered into a separate agreement to dispose of the following (sales price in thousands): | ||||||||||
Properties | Apartment Units | Purchase Price | ||||||||
Land Parcel (one) | — | — | $ | 40,300 | ||||||
Total | — | — | $ | 40,300 | ||||||
Investments_in_Partially_Owned1
Investments in Partially Owned Entities (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Investments in Partially Owned Entities [Abstract] | ' | |||||||||||||||||||||||||||
Partially Owned Property Balance Sheet Schedule [Table Text Block] | ' | |||||||||||||||||||||||||||
The following tables and information summarize the Company’s investments in partially owned entities as of December 31, 2013 (amounts in thousands except for project and apartment unit amounts): | ||||||||||||||||||||||||||||
Consolidated | Unconsolidated | |||||||||||||||||||||||||||
Development Projects | Development Projects | |||||||||||||||||||||||||||
Held for | Operating | Total | Held for | Completed, Not Stabilized (3) | Operating | Total | ||||||||||||||||||||||
and/or Under | and/or Under | |||||||||||||||||||||||||||
Development | Development | |||||||||||||||||||||||||||
Total projects (1) | — | 19 | 19 | — | 3 | 1 | 4 | |||||||||||||||||||||
Total apartment units (1) | — | 3,752 | 3,752 | — | 1,333 | 336 | 1,669 | |||||||||||||||||||||
Balance sheet information at 12/31/13 (at 100%): | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Investment in real estate | $ | 342,222 | $ | 673,957 | $ | 1,016,179 | $ | 45,123 | $ | 284,264 | $ | 55,545 | $ | 384,932 | ||||||||||||||
Accumulated depreciation | — | (172,802 | ) | (172,802 | ) | — | (1,887 | ) | (4,605 | ) | (6,492 | ) | ||||||||||||||||
Investment in real estate, net | 342,222 | 501,155 | 843,377 | 45,123 | 282,377 | 50,940 | 378,440 | |||||||||||||||||||||
Cash and cash equivalents | 4,704 | 22,792 | 27,496 | 262 | 1,505 | 1,377 | 3,144 | |||||||||||||||||||||
Investments in unconsolidated entities | — | 54,439 | 54,439 | — | — | — | — | |||||||||||||||||||||
Deposits – restricted | 43,654 | 220 | 43,874 | — | 95 | 47 | 142 | |||||||||||||||||||||
Deferred financing costs, net | — | 2,496 | 2,496 | 77 | 129 | 4 | 210 | |||||||||||||||||||||
Other assets | 5,841 | 26,899 | 32,740 | — | 355 | 871 | 1,226 | |||||||||||||||||||||
Total assets | $ | 396,421 | $ | 608,001 | $ | 1,004,422 | $ | 45,462 | $ | 284,461 | $ | 53,239 | $ | 383,162 | ||||||||||||||
LIABILITIES AND EQUITY/CAPITAL | ||||||||||||||||||||||||||||
Mortgage notes payable (2) | $ | — | $ | 360,130 | $ | 360,130 | $ | 11,379 | $ | 172,279 | $ | 30,550 | $ | 214,208 | ||||||||||||||
Accounts payable & accrued expenses | 21,569 | 1,113 | 22,682 | 4,433 | 3,844 | 164 | 8,441 | |||||||||||||||||||||
Accrued interest payable | — | 1,283 | 1,283 | 23 | 693 | — | 716 | |||||||||||||||||||||
Other liabilities | 1,157 | 1,487 | 2,644 | 339 | 572 | 768 | 1,679 | |||||||||||||||||||||
Security deposits | 10 | 1,828 | 1,838 | — | 222 | 105 | 327 | |||||||||||||||||||||
Total liabilities | 22,736 | 365,841 | 388,577 | 16,174 | 177,610 | 31,587 | 225,371 | |||||||||||||||||||||
Noncontrolling Interests – Partially Owned | 114,245 | 12,338 | 126,583 | 27,858 | 73,902 | 20,450 | 122,210 | |||||||||||||||||||||
Properties/Partners' equity | ||||||||||||||||||||||||||||
Company equity/General and Limited | 259,440 | 229,822 | 489,262 | 1,430 | 32,949 | 1,202 | 35,581 | |||||||||||||||||||||
Partners' Capital | ||||||||||||||||||||||||||||
Total equity/capital | 373,685 | 242,160 | 615,845 | 29,288 | 106,851 | 21,652 | 157,791 | |||||||||||||||||||||
Total liabilities and equity/capital | $ | 396,421 | $ | 608,001 | $ | 1,004,422 | $ | 45,462 | $ | 284,461 | $ | 53,239 | $ | 383,162 | ||||||||||||||
Partially Owned Property Income Statement Schedule [Table Text Block] | ' | |||||||||||||||||||||||||||
Consolidated | Unconsolidated | |||||||||||||||||||||||||||
Development Projects | Development Projects | |||||||||||||||||||||||||||
Held for | Held for | Operating | ||||||||||||||||||||||||||
and/or Under | and/or Under | Completed, Not Stabilized (3) | ||||||||||||||||||||||||||
Development | Operating | Total | Development | Total | ||||||||||||||||||||||||
Operating information for the year ended 12/31/13 (at 100%): | ||||||||||||||||||||||||||||
Operating revenue | $ | 231 | $ | 80,968 | $ | 81,199 | $ | — | $ | 6,629 | $ | 4,597 | $ | 11,226 | ||||||||||||||
Operating expenses | 741 | 24,888 | 25,629 | 135 | 3,554 | 1,949 | 5,638 | |||||||||||||||||||||
Net operating (loss) income | (510 | ) | 56,080 | 55,570 | (135 | ) | 3,075 | 2,648 | 5,588 | |||||||||||||||||||
Depreciation | — | 31,824 | 31,824 | — | 1,887 | 4,605 | 6,492 | |||||||||||||||||||||
General and administrative/other | 882 | 93 | 975 | — | 53 | 201 | 254 | |||||||||||||||||||||
Operating (loss) income | (1,392 | ) | 24,163 | 22,771 | (135 | ) | 1,135 | (2,158 | ) | (1,158 | ) | |||||||||||||||||
Interest and other income | 2 | 3 | 5 | — | — | 10 | 10 | |||||||||||||||||||||
Other expenses | (503 | ) | (5 | ) | (508 | ) | — | — | — | — | ||||||||||||||||||
Interest: | ||||||||||||||||||||||||||||
Expense incurred, net | (2 | ) | (14,561 | ) | (14,563 | ) | — | (1,886 | ) | (941 | ) | (2,827 | ) | |||||||||||||||
Amortization of deferred financing costs | — | (301 | ) | (301 | ) | — | — | (1 | ) | (1 | ) | |||||||||||||||||
(Loss) income before income and other taxes, (loss) | (1,895 | ) | 9,299 | 7,404 | (135 | ) | (751 | ) | (3,090 | ) | (3,976 | ) | ||||||||||||||||
from investments in unconsolidated entities, net | ||||||||||||||||||||||||||||
(loss) gain on sales of land parcels and | ||||||||||||||||||||||||||||
discontinued operations | ||||||||||||||||||||||||||||
Income and other tax (expense) benefit | (11 | ) | (56 | ) | (67 | ) | — | — | — | — | ||||||||||||||||||
(Loss) from investments in unconsolidated entities | — | (1,387 | ) | (1,387 | ) | — | — | — | — | |||||||||||||||||||
Net (loss) on sales of land parcels | (17 | ) | — | (17 | ) | — | — | — | — | |||||||||||||||||||
Net gain on sales of discontinued operations | — | 26,673 | 26,673 | — | — | — | — | |||||||||||||||||||||
Net (loss) income | $ | (1,923 | ) | $ | 34,529 | $ | 32,606 | $ | (135 | ) | $ | (751 | ) | $ | (3,090 | ) | $ | (3,976 | ) | |||||||||
-1 | Project and apartment unit counts exclude all uncompleted development projects until those projects are substantially completed. | |||||||||||||||||||||||||||
-2 | All debt is non-recourse to the Company with the exception of 50% of the current $11.4 million outstanding debt balance on one unconsolidated development project. | |||||||||||||||||||||||||||
-3 | Projects included here are substantially complete. However, they may still require additional exterior and interior work for all units to be available for leasing. | |||||||||||||||||||||||||||
Note: | The above tables exclude the Company's interests in unconsolidated joint ventures entered into with AVB in connection with the Archstone Transaction. These ventures own certain non-core Archstone assets that are held for sale and succeeded to certain residual Archstone liabilities, such as liability for various employment-related matters as well as responsibility for tax protection arrangements and third-party preferred interests in former Archstone subsidiaries. The preferred interests have an aggregate liquidation value of $89.0 million at December 31, 2013. The ventures are owned 60% by the Company and 40% by AVB. |
Deposits_Restricted_Tables
Deposits - Restricted (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deposits - Restricted [Abstract] | ' | ||||||||
Schedule of Restricted Cash and Cash Equivalents [Table Text Block] | ' | ||||||||
The following table presents the Company’s restricted deposits as of December 31, 2013 and 2012 (amounts in thousands): | |||||||||
December 31, 2013 | December 31, 2012 | ||||||||
Tax – deferred (1031) exchange proceeds | $ | — | $ | 152,182 | |||||
Earnest money on pending acquisitions | 4,514 | 5,613 | |||||||
Restricted deposits on real estate investments | 53,771 | 44,209 | |||||||
Resident security and utility deposits | 44,777 | 44,199 | |||||||
Other | 505 | 4,239 | |||||||
Totals | $ | 103,567 | $ | 250,442 | |||||
Debt_Debt_Tables
Debt Debt (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Debt [Abstract] | ' | ||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||||
The following tables summarize the Company’s unsecured note balances and certain interest rate and maturity date information as of and for the years ended December 31, 2013 and 2012, respectively: | |||||||||||
31-Dec-13 | Net Principal Balance | Interest Rate Ranges | Weighted Average Interest Rate | Maturity Date Ranges | |||||||
(Amounts are in thousands) | |||||||||||
Fixed Rate Public/Private Notes (1) | $ | 4,727,088 | 3.00% - 7.57% | 5.55% | 2014 - 2026 | ||||||
Floating Rate Public/Private Notes (1) | 750,000 | (1) (2) | 1.58% | 2015 | |||||||
Totals | $ | 5,477,088 | |||||||||
31-Dec-12 | Net Principal Balance | Interest Rate Ranges | Weighted Average Interest Rate | Maturity Date Ranges | |||||||
(Amounts are in thousands) | |||||||||||
Fixed Rate Public/Private Notes (1) | $ | 4,329,352 | 4.625% - 7.57% | 5.70% | 2013 - 2026 | ||||||
Floating Rate Public/Private Notes (1) | 301,523 | -1 | 1.83% | 2013 | |||||||
Totals | $ | 4,630,875 | |||||||||
-1 | At December 31, 2012, $300.0 million in fair value interest rate swaps converts a portion of the $400.0 million face value 5.200% notes due April 1, 2013 to a floating interest rate. On April 1, 2013, the Company paid off the $400.0 million outstanding of its 5.200% public notes at maturity and the related fair value interest rate swaps matured. | ||||||||||
-2 | Includes the Company's senior unsecured $750.0 million delayed draw term loan facility that matures on January 11, 2015 and is subject to a one-year extension option exercisable by the Company. The interest rate on advances under the term loan facility will generally be LIBOR plus a spread (currently 1.20%), which is dependent on the credit rating of the Company's long-term debt. | ||||||||||
Aggregate payments of principal on unsecured notes payable | ' | ||||||||||
The following table provides a summary of the aggregate payments of principal on all debt for each of the next five years and thereafter (amounts in thousands): | |||||||||||
Year | Total (1) | ||||||||||
2014 | $ | 561,084 | |||||||||
2015 | 1,170,448 | ||||||||||
2016 | 1,193,251 | ||||||||||
2017 | 1,347,191 | ||||||||||
2018 | — | 297,016 | |||||||||
Thereafter | 6,209,697 | ||||||||||
Net Unamortized (Discount) | (12,433 | ) | |||||||||
Total | $ | 10,766,254 | |||||||||
-1 | Premiums and discounts are amortized over the life of the debt. |
Derivative_and_Other_Fair_Valu1
Derivative and Other Fair Value Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||
Derivative Instrument Table | ' | ||||||||||||||||||||||
The following table summarizes the Company’s consolidated derivative instruments at December 31, 2013 (dollar amounts are in thousands): | |||||||||||||||||||||||
Forward | |||||||||||||||||||||||
Starting | |||||||||||||||||||||||
Swaps (1) | |||||||||||||||||||||||
Current Notional Balance | $ | 400,000 | |||||||||||||||||||||
Lowest Possible Notional | $ | 400,000 | |||||||||||||||||||||
Highest Possible Notional | $ | 400,000 | |||||||||||||||||||||
Lowest Interest Rate | 2.125 | % | |||||||||||||||||||||
Highest Interest Rate | 3.23 | % | |||||||||||||||||||||
Earliest Maturity Date | 2024 | ||||||||||||||||||||||
Latest Maturity Date | 2024 | ||||||||||||||||||||||
-1 | Forward Starting Swaps – Designed to partially fix the interest rate in advance of a planned future debt issuance. These swaps have mandatory counterparty terminations in 2015, and are targeted to 2014 issuances. | ||||||||||||||||||||||
Schedule of Location and Amount of Financial Instruments on Balanace Sheet | ' | ||||||||||||||||||||||
The following tables provide a summary of the fair value measurements for each major category of assets and liabilities measured at fair value on a recurring basis and the location within the accompanying consolidated balance sheets at December 31, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||
Balance Sheet | Identical Assets/Liabilities | Observable Inputs | Unobservable Inputs | ||||||||||||||||||||
Description | Location | 12/31/13 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets | |||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Forward Starting Swaps | Other Assets | $ | 18,712 | $ | — | $ | 18,712 | $ | — | ||||||||||||||
Supplemental Executive Retirement Plan | Other Assets | 83,845 | 83,845 | — | — | ||||||||||||||||||
Total | $ | 102,557 | $ | 83,845 | $ | 18,712 | $ | — | |||||||||||||||
Liabilities | |||||||||||||||||||||||
Supplemental Executive Retirement Plan | Other Liabilities | $ | 83,845 | $ | 83,845 | $ | — | $ | — | ||||||||||||||
Total | $ | 83,845 | $ | 83,845 | $ | — | $ | — | |||||||||||||||
Redeemable Noncontrolling Interests – | |||||||||||||||||||||||
Operating Partnership/Redeemable | |||||||||||||||||||||||
Limited Partners | Mezzanine | $ | 363,144 | $ | — | $ | 363,144 | $ | — | ||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||
Balance Sheet | Identical Assets/Liabilities | Observable Inputs | Unobservable Inputs | ||||||||||||||||||||
Description | Location | 12/31/12 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets | |||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Fair Value Hedges | Other Assets | $ | 1,523 | $ | — | $ | 1,523 | $ | — | ||||||||||||||
Supplemental Executive Retirement Plan | Other Assets | 70,655 | 70,655 | — | — | ||||||||||||||||||
Available-for-Sale Investment Securities | Other Assets | 2,214 | 2,214 | — | — | ||||||||||||||||||
Total | $ | 74,392 | $ | 72,869 | $ | 1,523 | $ | — | |||||||||||||||
Liabilities | |||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Forward Starting Swaps | Other Liabilities | $ | 44,050 | $ | — | $ | 44,050 | $ | — | ||||||||||||||
Supplemental Executive Retirement Plan | Other Liabilities | 70,655 | 70,655 | — | — | ||||||||||||||||||
Total | $ | 114,705 | $ | 70,655 | $ | 44,050 | $ | — | |||||||||||||||
Redeemable Noncontrolling Interests – | |||||||||||||||||||||||
Operating Partnership/Redeemable | |||||||||||||||||||||||
Limited Partners | Mezzanine | $ | 398,372 | $ | — | $ | 398,372 | $ | — | ||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | ' | ||||||||||||||||||||||
The following tables provide a summary of the effect of fair value hedges on the Company’s accompanying consolidated statements of operations and comprehensive income for the years ended December 31, 2013, 2012 and 2011, respectively (amounts in thousands): | |||||||||||||||||||||||
December 31, 2013 | Location of Gain/(Loss) Recognized in Income | Amount of Gain/(Loss) Recognized in Income | Income Statement Location of Hedged | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||||||
Type of Fair Value Hedge | on Derivative | on Derivative | Hedged Item | Item Gain/(Loss) | on Hedged Item | ||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Interest Rate Swaps | Interest expense | $ | (1,523 | ) | Fixed rate debt | Interest expense | $ | 1,523 | |||||||||||||||
Total | $ | (1,523 | ) | $ | 1,523 | ||||||||||||||||||
December 31, 2012 | Location of Gain/(Loss) Recognized in Income | Amount of Gain/(Loss) Recognized in Income | Income Statement Location of Hedged | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||||||
Type of Fair Value Hedge | on Derivative | on Derivative | Hedged Item | Item Gain/(Loss) | on Hedged Item | ||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Interest Rate Swaps | Interest expense | $ | (7,448 | ) | Fixed rate debt | Interest expense | $ | 7,448 | |||||||||||||||
Total | $ | (7,448 | ) | $ | 7,448 | ||||||||||||||||||
December 31, 2011 | Location of Gain/(Loss) Recognized in Income | Amount of Gain/(Loss) Recognized in Income | Income Statement Location of Hedged | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||||||
Type of Fair Value Hedge | on Derivative | on Derivative | Hedged Item | Item Gain/(Loss) | on Hedged Item | ||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Interest Rate Swaps | Interest expense | $ | (3,549 | ) | Fixed rate debt | Interest expense | $ | 3,549 | |||||||||||||||
Total | $ | (3,549 | ) | $ | 3,549 | ||||||||||||||||||
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | ' | ||||||||||||||||||||||
The following tables provide a summary of the effect of cash flow hedges on the Company’s accompanying consolidated statements of operations and comprehensive income for the years ended December 31, 2013, 2012 and 2011, respectively (amounts in thousands): | |||||||||||||||||||||||
Effective Portion | Ineffective Portion | ||||||||||||||||||||||
December 31, 2013 | Amount of | Location of Gain/(Loss) | Amount of Gain/(Loss) | Location of | Amount of Gain/(Loss) | ||||||||||||||||||
Gain/(Loss) Recognized in OCI | Reclassified from Accumulated OCI | Reclassified from Accumulated OCI | Gain/(Loss) Recognized in Income | Reclassified from Accumulated OCI | |||||||||||||||||||
Type of Cash Flow Hedge | on Derivative | into Income | into Income | on Derivative | into Income | ||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Forward Starting Swaps/Treasury Locks | $ | 18,771 | Interest expense | $ | (20,141 | ) | N/A | $ | — | ||||||||||||||
Total | $ | 18,771 | $ | (20,141 | ) | $ | — | ||||||||||||||||
Effective Portion | Ineffective Portion | ||||||||||||||||||||||
December 31, 2012 | Amount of | Location of Gain/(Loss) | Amount of Gain/(Loss) | Location of | Amount of Gain/(Loss) | ||||||||||||||||||
Gain/(Loss) Recognized in OCI | Reclassified from Accumulated | Reclassified from Accumulated | Gain/(Loss) Recognized in Income | Reclassified from Accumulated | |||||||||||||||||||
on Derivative | OCI | OCI | on Derivative | OCI | |||||||||||||||||||
Type of Cash Flow Hedge | into Income | into Income | into Income | ||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Forward Starting Swaps/Treasury Locks | $ | (11,772 | ) | Interest expense | $ | (14,678 | ) | N/A | $ | — | |||||||||||||
Total | $ | (11,772 | ) | $ | (14,678 | ) | $ | — | |||||||||||||||
Effective Portion | Ineffective Portion | ||||||||||||||||||||||
December 31, 2011 | Amount of | Location of Gain/(Loss) | Amount of Gain/(Loss) | Location of | Amount of Gain/(Loss) | ||||||||||||||||||
Gain/(Loss) Recognized in OCI | Reclassified from Accumulated | Reclassified from Accumulated | Gain/(Loss) Recognized in Income | Reclassified from Accumulated | |||||||||||||||||||
on Derivative | OCI | OCI | on Derivative | OCI | |||||||||||||||||||
Type of Cash Flow Hedge | into Income | into Income | into Income | ||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||||||
Forward Starting Swaps/Treasury Locks | $ | (145,090 | ) | Interest expense | $ | (4,343 | ) | Interest expense | $ | (170 | ) | ||||||||||||
Development Interest Rate Swaps/Caps | 1,322 | Interest expense | — | N/A | — | ||||||||||||||||||
Total | $ | (143,768 | ) | $ | (4,343 | ) | $ | (170 | ) | ||||||||||||||
Available-for-sale Securities [Table Text Block] | ' | ||||||||||||||||||||||
The following tables set forth the maturity, amortized cost, gross unrealized gains and losses, book/fair value and interest and other income of the various investment securities held as of December 31, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||||||||||
Other Assets | |||||||||||||||||||||||
December 31, 2013 | Maturity | Amortized | Unrealized | Unrealized | Book/ | Interest and | |||||||||||||||||
Security | Cost | Gains | Losses | Fair Value | Other Income | ||||||||||||||||||
Available-for-Sale Investment Securities | N/A | $ | — | $ | — | $ | — | $ | — | $ | 2,122 | ||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | 2,122 | |||||||||||||
Other Assets | |||||||||||||||||||||||
December 31, 2012 | Maturity | Amortized | Unrealized | Unrealized | Book/ | Interest and | |||||||||||||||||
Security | Cost | Gains | Losses | Fair Value | Other Income | ||||||||||||||||||
Available-for-Sale Investment Securities | N/A | $ | 675 | $ | 1,539 | $ | — | $ | 2,214 | $ | — | ||||||||||||
Total | $ | 675 | $ | 1,539 | $ | — | $ | 2,214 | $ | — | |||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | ' | |||||||||||
The following tables set forth the computation of net income per share – basic and net income per share – diluted for the Company (amounts in thousands except per share amounts): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Numerator for net income per share – basic: | ||||||||||||
(Loss) income from continuing operations | $ | (168,174 | ) | $ | 160,298 | $ | (72,941 | ) | ||||
Allocation to Noncontrolling Interests – Operating Partnership, net | 6,834 | (6,417 | ) | 3,880 | ||||||||
Net loss (income) attributable to Noncontrolling Interests – Partially Owned Properties | 538 | (844 | ) | (832 | ) | |||||||
Preferred distributions | (4,145 | ) | (10,355 | ) | (13,865 | ) | ||||||
Premium on redemption of Preferred Shares | — | (5,152 | ) | — | ||||||||
(Loss) income from continuing operations available to Common Shares, net of | (164,947 | ) | 137,530 | (83,758 | ) | |||||||
Noncontrolling Interests | ||||||||||||
Discontinued operations, net of Noncontrolling Interests | 1,991,415 | 688,682 | 963,478 | |||||||||
Numerator for net income per share – basic | $ | 1,826,468 | $ | 826,212 | $ | 879,720 | ||||||
Numerator for net income per share – diluted (1): | ||||||||||||
Income from continuing operations | $ | 160,298 | ||||||||||
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties | (844 | ) | ||||||||||
Preferred distributions | (10,355 | ) | ||||||||||
Premium on redemption of Preferred Shares | (5,152 | ) | ||||||||||
Income from continuing operations available to Common Shares | 143,947 | |||||||||||
Discontinued operations, net | 720,906 | |||||||||||
Numerator for net income per share – diluted (1) | $ | 1,826,468 | $ | 864,853 | $ | 879,720 | ||||||
Denominator for net income per share – basic and diluted (1): | ||||||||||||
Denominator for net income per share – basic | 354,305 | 302,701 | 294,856 | |||||||||
Effect of dilutive securities: | ||||||||||||
OP Units | 13,853 | |||||||||||
Long-term compensation shares/units | 3,212 | |||||||||||
Denominator for net income per share – diluted (1) | 354,305 | 319,766 | 294,856 | |||||||||
Net income per share – basic | $ | 5.16 | $ | 2.73 | $ | 2.98 | ||||||
Net income per share – diluted | $ | 5.16 | $ | 2.7 | $ | 2.98 | ||||||
Net income per share – basic: | ||||||||||||
(Loss) income from continuing operations available to Common Shares, net of | $ | (0.466 | ) | $ | 0.454 | $ | (0.284 | ) | ||||
Noncontrolling Interests | ||||||||||||
Discontinued operations, net of Noncontrolling Interests | 5.621 | 2.275 | 3.268 | |||||||||
Net income per share – basic | $ | 5.155 | $ | 2.729 | $ | 2.984 | ||||||
Net income per share – diluted (1): | ||||||||||||
(Loss) income from continuing operations available to Common Shares | $ | (0.466 | ) | $ | 0.45 | $ | (0.284 | ) | ||||
Discontinued operations, net | 5.621 | 2.255 | 3.268 | |||||||||
Net income per share – diluted | $ | 5.155 | $ | 2.705 | $ | 2.984 | ||||||
Distributions declared per Common Share outstanding | $ | 1.85 | $ | 1.78 | $ | 1.58 | ||||||
-1 | Potential common shares issuable from the assumed conversion of OP Units and the exercise/vesting of long-term compensation shares/units are automatically anti-dilutive and therefore excluded from the diluted earnings per share calculation as the Company had a loss from continuing operations for the years ended December 31, 2013 and 2011. | |||||||||||
Operating Partnership [Member] | ' | |||||||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | ' | |||||||||||
The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Numerator for net income per Unit – basic and diluted (1): | ||||||||||||
(Loss) income from continuing operations | $ | (168,174 | ) | $ | 160,298 | $ | (72,941 | ) | ||||
Net loss (income) attributable to Noncontrolling Interests – Partially Owned Properties | 538 | (844 | ) | (832 | ) | |||||||
Allocation to Preference Units | (4,145 | ) | (10,355 | ) | (13,865 | ) | ||||||
Allocation to premium on redemption of Preference Units | — | (5,152 | ) | — | ||||||||
(Loss) income from continuing operations available to Units | (171,781 | ) | 143,947 | (87,638 | ) | |||||||
Discontinued operations, net | 2,073,527 | 720,906 | 1,008,138 | |||||||||
Numerator for net income per Unit – basic and diluted (1) | $ | 1,901,746 | $ | 864,853 | $ | 920,500 | ||||||
Denominator for net income per Unit – basic and diluted (1): | ||||||||||||
Denominator for net income per Unit – basic | 368,038 | 316,554 | 308,062 | |||||||||
Effect of dilutive securities: | ||||||||||||
Dilution for Units issuable upon assumed exercise/vesting of the Company's | 3,212 | |||||||||||
long-term compensation shares/units | ||||||||||||
Denominator for net income per Unit – diluted (1) | 368,038 | 319,766 | 308,062 | |||||||||
Net income per Unit – basic | $ | 5.16 | $ | 2.73 | $ | 2.98 | ||||||
Net income per Unit – diluted | $ | 5.16 | $ | 2.7 | $ | 2.98 | ||||||
Net income per Unit – basic: | ||||||||||||
(Loss) income from continuing operations available to Units | $ | (0.466 | ) | $ | 0.454 | $ | (0.284 | ) | ||||
Discontinued operations, net | 5.621 | 2.275 | 3.268 | |||||||||
Net income per Unit – basic | $ | 5.155 | $ | 2.729 | $ | 2.984 | ||||||
Net income per Unit – diluted (1): | ||||||||||||
(Loss) income from continuing operations available to Units | $ | (0.466 | ) | $ | 0.45 | $ | (0.284 | ) | ||||
Discontinued operations, net | 5.621 | 2.255 | 3.268 | |||||||||
Net income per Unit – diluted | $ | 5.155 | $ | 2.705 | $ | 2.984 | ||||||
Distributions declared per Unit outstanding | $ | 1.85 | $ | 1.78 | $ | 1.58 | ||||||
-1 | Potential Units issuable from the assumed exercise/vesting of the Company's long-term compensation shares/units are automatically anti-dilutive and therefore excluded from the diluted earnings per Unit calculation as the Operating Partnership had a loss from continuing operations for the years ended December 31, 2013 and 2011. |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Components of discontinued operations | ' | |||||||||||
The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets during each of the years ended December 31, 2013, 2012 and 2011 (amounts in thousands). | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
REVENUES | ||||||||||||
Rental income | $ | 121,942 | $ | 445,832 | $ | 560,399 | ||||||
Total revenues | 121,942 | 445,832 | 560,399 | |||||||||
EXPENSES (1) | ||||||||||||
Property and maintenance | 36,792 | 103,371 | 160,315 | |||||||||
Real estate taxes and insurance | 11,903 | 41,208 | 50,173 | |||||||||
Property management | 1 | 211 | 266 | |||||||||
Depreciation | 34,380 | 124,323 | 157,441 | |||||||||
General and administrative | 85 | 92 | 55 | |||||||||
Total expenses | 83,161 | 269,205 | 368,250 | |||||||||
Discontinued operating income | 38,781 | 176,627 | 192,149 | |||||||||
Interest and other income | 217 | 156 | 198 | |||||||||
Other expenses | (3 | ) | (170 | ) | (421 | ) | ||||||
Interest (2): | ||||||||||||
Expense incurred, net | (1,296 | ) | (3,811 | ) | (9,268 | ) | ||||||
Amortization of deferred financing costs | (228 | ) | (140 | ) | (1,230 | ) | ||||||
Income and other tax (expense) benefit | (449 | ) | (34 | ) | 221 | |||||||
Discontinued operations | 37,022 | 172,628 | 181,649 | |||||||||
Net gain on sales of discontinued operations | 2,036,505 | 548,278 | 826,489 | |||||||||
Discontinued operations, net | $ | 2,073,527 | $ | 720,906 | $ | 1,008,138 | ||||||
-1 | Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership. | |||||||||||
-2 | Includes only interest expense specific to secured mortgage notes payable for properties sold. |
Share_Incentive_Plans_Tables
Share Incentive Plans (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | ||||||||||||||||||||
The following tables summarize compensation information regarding the restricted shares, LTIP Units, share options and Employee Share Purchase Plan (“ESPP”) for the three years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | |||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Compensation | Compensation | Compensation | Dividends | ||||||||||||||||||
Expense | Capitalized | Equity | Incurred | ||||||||||||||||||
Restricted shares | $ | 12,185 | $ | 1,079 | $ | 13,264 | $ | 967 | |||||||||||||
LTIP Units | 13,108 | 501 | 13,609 | 520 | |||||||||||||||||
Share options | 9,569 | 945 | 10,514 | — | |||||||||||||||||
ESPP discount | 612 | 20 | 632 | — | |||||||||||||||||
Total | $ | 35,474 | $ | 2,545 | $ | 38,019 | $ | 1,487 | |||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Compensation | Compensation | Compensation | Dividends | ||||||||||||||||||
Expense | Capitalized | Equity | Incurred | ||||||||||||||||||
Restricted shares | $ | 8,014 | $ | 922 | $ | 8,936 | $ | 949 | |||||||||||||
LTIP Units | 5,004 | 303 | 5,307 | 234 | |||||||||||||||||
Share options | 10,970 | 782 | 11,752 | — | |||||||||||||||||
ESPP discount | 844 | 121 | 965 | — | |||||||||||||||||
Total | $ | 24,832 | $ | 2,128 | $ | 26,960 | $ | 1,183 | |||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
Compensation | Compensation | Compensation | Dividends | ||||||||||||||||||
Expense | Capitalized | Equity | Incurred | ||||||||||||||||||
Restricted shares | $ | 8,041 | $ | 1,061 | $ | 9,102 | $ | 1,121 | |||||||||||||
LTIP Units | 3,344 | 297 | 3,641 | 199 | |||||||||||||||||
Share options | 8,711 | 834 | 9,545 | — | |||||||||||||||||
ESPP discount | 1,081 | 113 | 1,194 | — | |||||||||||||||||
Total | $ | 21,177 | $ | 2,305 | $ | 23,482 | $ | 1,320 | |||||||||||||
Award activity of the Share Incentive Plans | ' | ||||||||||||||||||||
The table below summarizes the Award activity of the Share Incentive Plans for the three years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||
Common | Weighted | Restricted | Weighted | LTIP | Weighted | ||||||||||||||||
Shares Subject | Average | Shares | Average Fair | Units | Average Fair | ||||||||||||||||
to Options | Exercise Price | Value per | Value per | ||||||||||||||||||
per Option | Restricted Share | LTIP Unit | |||||||||||||||||||
Balance at December 31, 2010 | 10,106,488 | $33.00 | 911,950 | $32.05 | 247,508 | $25.62 | |||||||||||||||
Awards granted (1) | 1,491,311 | $53.70 | 170,588 | $53.99 | 223,452 | $46.64 | |||||||||||||||
Awards exercised/vested (2) (3) (4) | (2,945,950 | ) | $32.27 | (258,068 | ) | $38.32 | (101,988 | ) | $38.57 | ||||||||||||
Awards forfeited | (41,559 | ) | $35.14 | (126,960 | ) | $37.19 | (1,352 | ) | $27.79 | ||||||||||||
Awards expired | (16,270 | ) | $44.13 | — | — | — | — | ||||||||||||||
Balance at December 31, 2011 | 8,594,020 | $36.81 | 697,510 | $34.17 | 367,620 | $34.80 | |||||||||||||||
Awards granted (1) | 1,164,484 | $60.22 | 140,980 | $60.20 | 70,235 | $57.24 | |||||||||||||||
Awards exercised/vested (2) (3) (4) | (1,608,425 | ) | $30.87 | (300,809 | ) | $23.79 | (152,821 | ) | $21.11 | ||||||||||||
Awards forfeited | (23,795 | ) | $51.55 | (12,728 | ) | $46.25 | — | — | |||||||||||||
Awards expired | (11,029 | ) | $35.53 | — | — | — | — | ||||||||||||||
Balance at December 31, 2012 | 8,115,255 | $41.31 | 524,953 | $46.81 | 285,034 | $48.41 | |||||||||||||||
Awards granted (1) | 1,006,444 | $55.07 | 246,731 | $55.37 | 281,931 | $52.73 | |||||||||||||||
Awards exercised/vested (2) (3) (4) | (586,017 | ) | $29.34 | (253,816 | ) | $36.81 | (93,335 | ) | $32.97 | ||||||||||||
Awards forfeited | (47,819 | ) | $56.16 | (17,634 | ) | $55.74 | (2,374 | ) | $56.72 | ||||||||||||
Awards expired | (17,331 | ) | $47.51 | — | — | — | — | ||||||||||||||
Balance at December 31, 2013 | 8,470,532 | $43.67 | 500,234 | $55.79 | 471,256 | $55.67 | |||||||||||||||
-1 | The weighted average grant date fair value for Options granted during the years ended December 31, 2013, 2012 and 2011 was $7.97 per share, $8.55 per share and $8.18 per share, respectively. | ||||||||||||||||||||
-2 | The aggregate intrinsic value of options exercised during the years ended December 31, 2013, 2012 and 2011 was $16.7 million, $46.7 million and $74.8 million, respectively. These values were calculated as the difference between the strike price of the underlying awards and the per share price at which each respective award was exercised. | ||||||||||||||||||||
-3 | The fair value of restricted shares vested during the years ended December 31, 2013, 2012 and 2011 was $13.9 million, $18.0 million and $14.0 million, respectively. | ||||||||||||||||||||
-4 | The fair value of LTIP Units vested during the years ended December 31, 2013, 2012 and 2011 was $5.1 million, $9.1 million and $5.5 million, respectively. | ||||||||||||||||||||
Information regarding options outstanding and exercisable | ' | ||||||||||||||||||||
The following table summarizes information regarding options outstanding and exercisable at December 31, 2013: | |||||||||||||||||||||
Options Outstanding (1) | Options Exercisable (2) | ||||||||||||||||||||
Range of Exercise Prices | Options | Weighted | Weighted | Options | Weighted | ||||||||||||||||
Average | Average | Average | |||||||||||||||||||
Remaining | Exercise Price | Exercise Price | |||||||||||||||||||
Contractual Life in Years | |||||||||||||||||||||
$18.70 to $24.93 | 1,235,980 | 5.08 | $23.07 | 1,235,980 | $23.07 | ||||||||||||||||
$24.94 to $31.16 | 386,723 | 0.08 | $29.25 | 386,723 | $29.25 | ||||||||||||||||
$31.17 to $37.39 | 1,332,280 | 4.58 | $32.61 | 1,332,280 | $32.61 | ||||||||||||||||
$37.40 to $43.62 | 1,347,487 | 3.2 | $40.46 | 1,347,487 | $40.46 | ||||||||||||||||
$43.63 to $49.86 | 61,187 | 6.55 | $48.41 | 23,059 | $48.06 | ||||||||||||||||
$49.87 to $56.09 | 2,774,770 | 6.99 | $53.91 | 1,226,038 | $53.64 | ||||||||||||||||
$56.10 to $62.32 | 1,332,105 | 8.2 | $59.76 | 494,922 | $59.98 | ||||||||||||||||
$18.70 to $62.32 | 8,470,532 | 5.6 | $43.67 | 6,046,489 | $38.76 | ||||||||||||||||
Vested and expected to vest | 8,293,422 | 5.55 | $43.42 | ||||||||||||||||||
as of December 31, 2013 | |||||||||||||||||||||
-1 | The aggregate intrinsic value of options outstanding that are vested and expected to vest as of December 31, 2013 is $85.6 million. | ||||||||||||||||||||
-2 | The aggregate intrinsic value and weighted average remaining contractual life in years of options exercisable as of December 31, 2013 is $85.5 million and 4.5 years, respectively. |
Employee_Plans_Tables
Employee Plans (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Employee Plans [Abstract] | ' | |||||
Summary of information regarding the Common Shares issued under the ESPP | ' | |||||
The following table summarizes information regarding the Common Shares issued under the ESPP (the net proceeds noted below were contributed to ERPOP in exchange for OP Units): | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
(Amounts in thousands except share and per share amounts) | ||||||
Shares issued | 73,468 | 110,054 | 113,107 | |||
Issuance price ranges | $44.26 – $48.17 | $46.33 – $51.78 | $44.04 – $51.19 | |||
Issuance proceeds | $3,401 | $5,399 | $5,262 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Contractural Obligations [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following table summarizes the Company’s contractual obligations for minimum rent payments under operating leases and deferred compensation for the next five years and thereafter as of December 31, 2013: | |||||||||||||||||||||||||||||
Payments Due by Year (in thousands) | |||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||||
Operating Leases: | |||||||||||||||||||||||||||||
Minimum Rent Payments (a) | $ | 14,518 | $ | 14,935 | $ | 15,084 | $ | 14,961 | $ | 14,830 | $ | 869,687 | $ | 944,015 | |||||||||||||||
Other Long-Term Liabilities: | |||||||||||||||||||||||||||||
Deferred Compensation (b) | 1,378 | 1,705 | 1,705 | 1,705 | 1,705 | 5,596 | 13,794 | ||||||||||||||||||||||
(a) | Minimum basic rent due for various office space the Company leases and fixed base rent due on ground leases for 14 properties/parcels. | ||||||||||||||||||||||||||||
(b) | Estimated payments to the Company's Chairman, Vice Chairman and one former CEO based on actual and planned retirement dates. |
Reportable_Segments_Tables
Reportable Segments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Reportable Segments Schedule | ' | ||||||||||||||||||||||||||||||||||||
The following tables present NOI for each segment from our rental real estate specific to continuing operations for the years ended December 31, 2013, 2012 and 2011, respectively, as well as total assets and capital expenditures at December 31, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||||
Rental Income | Operating Expenses | NOI | Rental Income | Operating Expenses | NOI | Rental Income | Operating Expenses | NOI | |||||||||||||||||||||||||||||
Same store (1) | |||||||||||||||||||||||||||||||||||||
Boston | $ | 175,031 | $ | 57,261 | $ | 117,770 | $ | 168,063 | $ | 54,888 | $ | 113,175 | $ | 142,514 | $ | 49,317 | $ | 93,197 | |||||||||||||||||||
Denver | 100,425 | 30,028 | 70,397 | 93,571 | 28,204 | 65,367 | 99,681 | 32,564 | 67,117 | ||||||||||||||||||||||||||||
New York | 286,345 | 114,587 | 171,758 | 274,683 | 109,667 | 165,016 | 254,441 | 104,492 | 149,949 | ||||||||||||||||||||||||||||
San Francisco | 173,011 | 59,104 | 113,907 | 159,535 | 57,373 | 102,162 | 126,951 | 43,627 | 83,324 | ||||||||||||||||||||||||||||
Seattle | 129,283 | 43,718 | 85,565 | 122,267 | 41,041 | 81,226 | 122,494 | 45,275 | 77,219 | ||||||||||||||||||||||||||||
South Florida | 185,361 | 69,891 | 115,470 | 177,675 | 67,811 | 109,864 | 174,417 | 66,838 | 107,579 | ||||||||||||||||||||||||||||
Southern California | 333,917 | 107,346 | 226,571 | 320,749 | 103,925 | 216,824 | 299,508 | 98,907 | 200,601 | ||||||||||||||||||||||||||||
Washington DC | 253,056 | 76,033 | 177,023 | 247,880 | 75,580 | 172,300 | 240,755 | 75,492 | 165,263 | ||||||||||||||||||||||||||||
Non-core | 132,851 | 49,275 | 83,576 | 128,816 | 48,548 | 80,268 | 310,688 | 122,159 | 188,529 | ||||||||||||||||||||||||||||
Total same store | 1,769,280 | 607,243 | 1,162,037 | 1,693,239 | 587,037 | 1,106,202 | 1,771,449 | 638,671 | 1,132,778 | ||||||||||||||||||||||||||||
Non-same store/other (2) (3) | |||||||||||||||||||||||||||||||||||||
Boston | 61,139 | 18,238 | 42,901 | — | — | — | 8,115 | 2,361 | 5,754 | ||||||||||||||||||||||||||||
Denver | 2,805 | 744 | 2,061 | 1,325 | 429 | 896 | — | 1 | (1 | ) | |||||||||||||||||||||||||||
New York | 136,182 | 43,055 | 93,127 | 14,611 | 5,988 | 8,623 | 6,794 | 366 | 6,428 | ||||||||||||||||||||||||||||
San Francisco | 119,749 | 42,851 | 76,898 | 7,268 | 3,022 | 4,246 | 3,889 | 1,796 | 2,093 | ||||||||||||||||||||||||||||
Seattle | 19,462 | 6,284 | 13,178 | 4,747 | 1,510 | 3,237 | 6,012 | 2,149 | 3,863 | ||||||||||||||||||||||||||||
South Florida | 2,653 | 1,031 | 1,622 | — | — | — | 14,488 | 5,165 | 9,323 | ||||||||||||||||||||||||||||
Southern California | 74,123 | 31,599 | 42,524 | 3,040 | 1,179 | 1,861 | 30,539 | 12,144 | 18,395 | ||||||||||||||||||||||||||||
Washington DC | 179,077 | 58,759 | 120,318 | 13,124 | 3,984 | 9,140 | 36,657 | 11,373 | 25,284 | ||||||||||||||||||||||||||||
Other (3) | 13,534 | 17,998 | (4,464 | ) | 575 | 17,666 | (17,091 | ) | (3,477 | ) | 7,326 | (10,803 | ) | ||||||||||||||||||||||||
Properties sold in 2013 (4) | — | — | — | — | — | — | (358,272 | ) | (116,699 | ) | (241,573 | ) | |||||||||||||||||||||||||
Total non-same store/other | 608,724 | 220,559 | 388,165 | 44,690 | 33,778 | 10,912 | (255,255 | ) | (74,018 | ) | (181,237 | ) | |||||||||||||||||||||||||
Total | $ | 2,378,004 | $ | 827,802 | $ | 1,550,202 | $ | 1,737,929 | $ | 620,815 | $ | 1,117,114 | $ | 1,516,194 | $ | 564,653 | $ | 951,541 | |||||||||||||||||||
-1 | For the years ended December 31, 2013 and 2012, same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2012, less properties subsequently sold, which represented 80,247 apartment units. For the year ended December 31, 2011, same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2011, less properties subsequently sold, which represented 98,577 apartment units. | ||||||||||||||||||||||||||||||||||||
-2 | For the years ended December 31, 2013 and 2012, non-same store primarily includes properties acquired after January 1, 2012, plus any properties in lease-up and not stabilized as of January 1, 2012 . For the year ended December 31, 2011, non-same store primarily includes properties acquired after January 1, 2011, plus any properties in lease-up and not stabilized as of January 1, 2011. | ||||||||||||||||||||||||||||||||||||
-3 | Other includes development and other corporate operations. | ||||||||||||||||||||||||||||||||||||
-4 | Reflects discontinued operations for properties sold during 2013. | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Total Assets | Capital Expenditures | Total Assets | Capital Expenditures | ||||||||||||||||||||||||||||||||||
Same store (1) | |||||||||||||||||||||||||||||||||||||
Boston | $ | 1,087,370 | $ | 15,630 | $ | 1,133,098 | $ | 22,592 | |||||||||||||||||||||||||||||
Denver | 520,999 | 5,330 | 542,243 | 4,593 | |||||||||||||||||||||||||||||||||
New York | 2,678,546 | 8,982 | 2,742,346 | 12,437 | |||||||||||||||||||||||||||||||||
San Francisco | 968,840 | 11,767 | 999,267 | 18,010 | |||||||||||||||||||||||||||||||||
Seattle | 835,584 | 6,398 | 865,068 | 6,892 | |||||||||||||||||||||||||||||||||
South Florida | 1,157,283 | 14,550 | 1,193,506 | 17,338 | |||||||||||||||||||||||||||||||||
Southern California | 2,177,336 | 16,580 | 2,250,301 | 17,747 | |||||||||||||||||||||||||||||||||
Washington DC | 1,873,897 | 10,069 | 1,941,446 | 15,426 | |||||||||||||||||||||||||||||||||
Non-core | 645,418 | 5,186 | 674,360 | 6,989 | |||||||||||||||||||||||||||||||||
Total same store | 11,945,273 | 94,492 | 12,341,635 | 122,024 | |||||||||||||||||||||||||||||||||
Non-same store/other (2) (3) | |||||||||||||||||||||||||||||||||||||
Boston | 946,747 | 2,097 | — | — | |||||||||||||||||||||||||||||||||
Denver | 20,481 | 54 | 20,974 | 5 | |||||||||||||||||||||||||||||||||
New York | 2,092,454 | 3,024 | 406,013 | 142 | |||||||||||||||||||||||||||||||||
San Francisco | 1,824,550 | 9,989 | 178,339 | 1,176 | |||||||||||||||||||||||||||||||||
Seattle | 312,240 | 1,598 | 90,205 | 67 | |||||||||||||||||||||||||||||||||
South Florida | 50,414 | 300 | — | — | |||||||||||||||||||||||||||||||||
Southern California | 1,078,038 | 3,975 | 70,389 | 141 | |||||||||||||||||||||||||||||||||
Washington DC | 2,664,702 | 14,877 | 276,901 | 1,062 | |||||||||||||||||||||||||||||||||
Other (3) | 1,899,646 | 5,410 | 3,816,544 | 28,211 | |||||||||||||||||||||||||||||||||
Total non-same store/other | 10,889,272 | 41,324 | 4,859,365 | 30,804 | |||||||||||||||||||||||||||||||||
Total | $ | 22,834,545 | $ | 135,816 | $ | 17,201,000 | $ | 152,828 | |||||||||||||||||||||||||||||
-1 | Same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2012, less properties subsequently sold, which represented 80,247 apartment units. | ||||||||||||||||||||||||||||||||||||
-2 | Non-same store primarily includes properties acquired after January 1, 2012, plus any properties in lease-up and not stabilized as of January 1, 2012. | ||||||||||||||||||||||||||||||||||||
-3 | Other includes development and other corporate operations. | ||||||||||||||||||||||||||||||||||||
Reconciliation of NOI | ' | ||||||||||||||||||||||||||||||||||||
The following table presents a reconciliation of NOI from our rental real estate specific to continuing operations for the years ended December 31, 2013, 2012 and 2011, respectively (amounts in thousands): | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||
Rental income | $ | 2,378,004 | $ | 1,737,929 | $ | 1,516,194 | |||||||||||||||||||||||||||||||
Property and maintenance expense | (449,461 | ) | (332,190 | ) | (304,380 | ) | |||||||||||||||||||||||||||||||
Real estate taxes and insurance expense | (293,999 | ) | (206,723 | ) | (178,406 | ) | |||||||||||||||||||||||||||||||
Property management expense | (84,342 | ) | (81,902 | ) | (81,867 | ) | |||||||||||||||||||||||||||||||
Total operating expenses | (827,802 | ) | (620,815 | ) | (564,653 | ) | |||||||||||||||||||||||||||||||
Net operating income | $ | 1,550,202 | $ | 1,117,114 | $ | 951,541 | |||||||||||||||||||||||||||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2012 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues (2) | $ | 414,037 | $ | 431,910 | $ | 449,072 | $ | 452,483 | |||||||||
Operating income (2) | 102,110 | 121,745 | 142,020 | 148,247 | |||||||||||||
(Loss) income from continuing operations (2) | (25,394 | ) | (6,340 | ) | 91,269 | 100,763 | |||||||||||
Discontinued operations, net (2) | 177,561 | 114,655 | 145,054 | 283,636 | |||||||||||||
Net income * | 152,167 | 108,315 | 236,323 | 384,399 | |||||||||||||
Net income available to Common Shares | 141,833 | 99,797 | 218,603 | 365,979 | |||||||||||||
Earnings per share – basic: | |||||||||||||||||
Net income available to Common Shares | $ | 0.47 | $ | 0.33 | $ | 0.73 | $ | 1.18 | |||||||||
Weighted average Common Shares outstanding | 298,805 | 300,193 | 301,336 | 310,398 | |||||||||||||
Earnings per share – diluted: | |||||||||||||||||
Net income available to Common Shares | $ | 0.47 | $ | 0.33 | $ | 0.72 | $ | 1.17 | |||||||||
Weighted average Common Shares outstanding | 298,805 | 300,193 | 318,773 | 327,108 | |||||||||||||
-2 | The amounts presented for the four quarters of 2012 are not equal to the same amounts previously reported in the Form 8-K filed with the SEC on June 17, 2013 (for the first and fourth quarters of 2012), the second quarter 2013 Form 10-Q filed with the SEC on August 8, 2013 (for the second quarter of 2012) and the third quarter 2013 Form 10-Q filed with the SEC on November 7, 2013 (for the third quarter of 2012) as a result of changes in discontinued operations due to additional property sales which occurred throughout 2013. | ||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues (1) | $ | 504,722 | $ | 617,217 | $ | 626,629 | $ | 639,134 | |||||||||
Operating income (1) | 104,246 | 63,977 | 120,396 | 223,669 | |||||||||||||
(Loss) income from continuing operations (1) | (165,339 | ) | (58,511 | ) | (13,465 | ) | 69,141 | ||||||||||
Discontinued operations, net (1) | 1,226,373 | 395,243 | 405,182 | 46,729 | |||||||||||||
Net income * | 1,061,034 | 336,732 | 391,717 | 115,870 | |||||||||||||
Net income available to Common Shares | 1,016,650 | 323,723 | 376,155 | 109,940 | |||||||||||||
Earnings per share – basic: | |||||||||||||||||
Net income available to Common Shares | $ | 3.01 | $ | 0.9 | $ | 1.05 | $ | 0.31 | |||||||||
Weighted average Common Shares outstanding | 337,532 | 359,653 | 359,811 | 359,919 | |||||||||||||
Earnings per share – diluted: | |||||||||||||||||
Net income available to Common Shares | $ | 3.01 | $ | 0.9 | $ | 1.05 | $ | 0.3 | |||||||||
Weighted average Common Shares outstanding | 337,532 | 359,653 | 359,811 | 375,860 | |||||||||||||
-1 | The amounts presented for the first three quarters of 2013 are not equal to the same amounts previously reported in the respective Form 10-Q’s filed with the SEC for each period as a result of changes in discontinued operations due to additional property sales which occurred throughout 2013. | ||||||||||||||||
Quarterly of Financial Information Previously Reported Reconciliation [Table Text Block] | ' | ||||||||||||||||
Below is a reconciliation to the amounts previously reported: | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2012 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues previously reported in June 2013 Form 8-K/Form 10-Q | $ | 446,448 | $ | 448,351 | $ | 451,699 | $ | 485,868 | |||||||||
Total revenues subsequently reclassified to discontinued operations | (32,411 | ) | (16,441 | ) | (2,627 | ) | (33,385 | ) | |||||||||
Total revenues disclosed in Form 10-K | $ | 414,037 | $ | 431,910 | $ | 449,072 | $ | 452,483 | |||||||||
Operating income previously reported in June 2013 Form 8-K/Form | $ | 114,476 | $ | 128,560 | $ | 142,932 | $ | 162,109 | |||||||||
10-Q | |||||||||||||||||
Operating income subsequently reclassified to discontinued | (12,366 | ) | (6,815 | ) | (912 | ) | (13,862 | ) | |||||||||
operations | |||||||||||||||||
Operating income disclosed in Form 10-K | $ | 102,110 | $ | 121,745 | $ | 142,020 | $ | 148,247 | |||||||||
(Loss) income from continuing operations previously reported in | $ | (13,426 | ) | $ | 474 | $ | 92,181 | $ | 114,239 | ||||||||
June 2013 Form 8-K/Form 10-Q | |||||||||||||||||
Income from continuing operations subsequently reclassified to | (11,968 | ) | (6,814 | ) | (912 | ) | (13,476 | ) | |||||||||
discontinued operations | |||||||||||||||||
(Loss) income from continuing operations disclosed in Form 10-K | $ | (25,394 | ) | $ | (6,340 | ) | $ | 91,269 | $ | 100,763 | |||||||
Discontinued operations, net previously reported in June 2013 | $ | 165,593 | $ | 107,841 | $ | 144,142 | $ | 270,160 | |||||||||
Form 8-K/Form 10-Q | |||||||||||||||||
Discontinued operations, net from properties sold subsequent to the | 11,968 | 6,814 | 912 | 13,476 | |||||||||||||
respective reporting period | |||||||||||||||||
Discontinued operations, net disclosed in Form 10-K | $ | 177,561 | $ | 114,655 | $ | 145,054 | $ | 283,636 | |||||||||
* The Company did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2013 and 2012. Therefore, income before extraordinary items and cumulative effect of change in accounting principle is not shown as it was equal to the net income amounts disclosed above. | |||||||||||||||||
Below is a reconciliation to the amounts previously reported: | |||||||||||||||||
First | Second | Third | |||||||||||||||
Quarter | Quarter | Quarter | |||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | ||||||||||||||
Total revenues previously reported in Form 10-Q | $ | 539,162 | $ | 635,078 | $ | 629,446 | |||||||||||
Total revenues subsequently reclassified to discontinued operations | (34,440 | ) | (17,861 | ) | (2,817 | ) | |||||||||||
Total revenues disclosed in Form 10-K | $ | 504,722 | $ | 617,217 | $ | 626,629 | |||||||||||
Operating income previously reported in Form 10-Q | $ | 117,529 | $ | 71,033 | $ | 121,394 | |||||||||||
Operating income subsequently reclassified to discontinued operations | (13,283 | ) | (7,056 | ) | (998 | ) | |||||||||||
Operating income disclosed in Form 10-K | $ | 104,246 | $ | 63,977 | $ | 120,396 | |||||||||||
(Loss) from continuing operations previously reported in Form 10-Q | $ | (153,352 | ) | $ | (51,455 | ) | $ | (12,467 | ) | ||||||||
(Loss) from continuing operations subsequently reclassified to discontinued | (11,987 | ) | (7,056 | ) | (998 | ) | |||||||||||
operations | |||||||||||||||||
(Loss) from continuing operations disclosed in Form 10-K | $ | (165,339 | ) | $ | (58,511 | ) | $ | (13,465 | ) | ||||||||
Discontinued operations, net previously reported in Form 10-Q | $ | 1,214,386 | $ | 388,187 | $ | 404,184 | |||||||||||
Discontinued operations, net from properties sold subsequent to the respective | 11,987 | 7,056 | 998 | ||||||||||||||
reporting period | |||||||||||||||||
Discontinued operations, net disclosed in Form 10-K | $ | 1,226,373 | $ | 395,243 | $ | 405,182 | |||||||||||
Operating Partnership [Member] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues (1) | $ | 504,722 | $ | 617,217 | $ | 626,629 | $ | 639,134 | |||||||||
Operating income (1) | 104,246 | 63,977 | 120,396 | 223,669 | |||||||||||||
(Loss) income from continuing operations (1) | (165,339 | ) | (58,511 | ) | (13,465 | ) | 69,141 | ||||||||||
Discontinued operations, net (1) | 1,226,373 | 395,243 | 405,182 | 46,729 | |||||||||||||
Net income * | 1,061,034 | 336,732 | 391,717 | 115,870 | |||||||||||||
Net income available to Units | 1,059,973 | 336,511 | 390,991 | 114,271 | |||||||||||||
Earnings per Unit – basic: | |||||||||||||||||
Net income available to Units | $ | 3.01 | $ | 0.9 | $ | 1.05 | $ | 0.31 | |||||||||
Weighted average Units outstanding | 351,255 | 373,403 | 373,547 | 373,643 | |||||||||||||
Earnings per Unit – diluted: | |||||||||||||||||
Net income available to Units | $ | 3.01 | $ | 0.9 | $ | 1.05 | $ | 0.3 | |||||||||
Weighted average Units outstanding | 351,255 | 373,403 | 373,547 | 375,860 | |||||||||||||
-1 | The amounts presented for the first three quarters of 2013 are not equal to the same amounts previously reported in the respective Form 10-Q’s filed with the SEC for each period as a result of changes in discontinued operations due to additional property sales which occurred throughout 2013. | ||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2012 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues (2) | $ | 414,037 | $ | 431,910 | $ | 449,072 | $ | 452,483 | |||||||||
Operating income (2) | 102,110 | 121,745 | 142,020 | 148,247 | |||||||||||||
(Loss) income from continuing operations (2) | (25,394 | ) | (6,340 | ) | 91,269 | 100,763 | |||||||||||
Discontinued operations, net (2) | 177,561 | 114,655 | 145,054 | 283,636 | |||||||||||||
Net income * | 152,167 | 108,315 | 236,323 | 384,399 | |||||||||||||
Net income available to Units | 148,251 | 104,529 | 229,099 | 382,974 | |||||||||||||
Earnings per Unit – basic: | |||||||||||||||||
Net income available to Units | $ | 0.47 | $ | 0.33 | $ | 0.73 | $ | 1.18 | |||||||||
Weighted average Units outstanding | 312,011 | 314,255 | 315,513 | 324,364 | |||||||||||||
Earnings per Unit – diluted: | |||||||||||||||||
Net income available to Units | $ | 0.47 | $ | 0.33 | $ | 0.72 | $ | 1.17 | |||||||||
Weighted average Units outstanding | 312,011 | 314,255 | 318,773 | 327,108 | |||||||||||||
-2 | The amounts presented for the four quarters of 2012 are not equal to the same amounts previously reported in the Form 8-K filed with the SEC on June 17, 2013 (for the first and fourth quarters of 2012), the second quarter 2013 Form 10-Q filed with the SEC on August 8, 2013 (for the second quarter of 2012) and the third quarter 2013 Form 10-Q filed with the SEC on November 7, 2013 (for the third quarter of 2012) as a result of changes in discontinued operations due to additional property sales which occurred throughout 2013. | ||||||||||||||||
Quarterly of Financial Information Previously Reported Reconciliation [Table Text Block] | ' | ||||||||||||||||
Below is a reconciliation to the amounts previously reported: | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2012 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues previously reported in June 2013 Form 8-K/Form | $ | 446,448 | $ | 448,351 | $ | 451,699 | $ | 485,868 | |||||||||
10-Q | |||||||||||||||||
Total revenues subsequently reclassified to discontinued operations | (32,411 | ) | (16,441 | ) | (2,627 | ) | (33,385 | ) | |||||||||
Total revenues disclosed in Form 10-K | $ | 414,037 | $ | 431,910 | $ | 449,072 | $ | 452,483 | |||||||||
Operating income previously reported in June 2013 Form 8-K/Form | $ | 114,476 | $ | 128,560 | $ | 142,932 | $ | 162,109 | |||||||||
10-Q | |||||||||||||||||
Operating income subsequently reclassified to discontinued | (12,366 | ) | (6,815 | ) | (912 | ) | (13,862 | ) | |||||||||
operations | |||||||||||||||||
Operating income disclosed in Form 10-K | $ | 102,110 | $ | 121,745 | $ | 142,020 | $ | 148,247 | |||||||||
(Loss) income from continuing operations previously reported in | $ | (13,426 | ) | $ | 474 | $ | 92,181 | $ | 114,239 | ||||||||
June 2013 Form 8-K/Form 10-Q | |||||||||||||||||
Income from continuing operations subsequently reclassified to | (11,968 | ) | (6,814 | ) | (912 | ) | (13,476 | ) | |||||||||
discontinued operations | |||||||||||||||||
(Loss) income from continuing operations disclosed in Form 10-K | $ | (25,394 | ) | $ | (6,340 | ) | $ | 91,269 | $ | 100,763 | |||||||
Discontinued operations, net previously reported in June 2013 Form | $ | 165,593 | $ | 107,841 | $ | 144,142 | $ | 270,160 | |||||||||
8-K/Form 10-Q | |||||||||||||||||
Discontinued operations, net from properties sold subsequent to the | 11,968 | 6,814 | 912 | 13,476 | |||||||||||||
respective reporting period | |||||||||||||||||
Discontinued operations, net disclosed in Form 10-K | $ | 177,561 | $ | 114,655 | $ | 145,054 | $ | 283,636 | |||||||||
* The Operating Partnership did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2013 and 2012. Therefore, income before extraordinary items and cumulative effect of change in accounting principle is not shown as it was equal to the net income amounts disclosed above. | |||||||||||||||||
Below is a reconciliation to the amounts previously reported: | |||||||||||||||||
First | Second | Third | |||||||||||||||
Quarter | Quarter | Quarter | |||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | ||||||||||||||
Total revenues previously reported in Form 10-Q | $ | 539,162 | $ | 635,078 | $ | 629,446 | |||||||||||
Total revenues subsequently reclassified to discontinued operations | (34,440 | ) | (17,861 | ) | (2,817 | ) | |||||||||||
Total revenues disclosed in Form 10-K | $ | 504,722 | $ | 617,217 | $ | 626,629 | |||||||||||
Operating income previously reported in Form 10-Q | $ | 117,529 | $ | 71,033 | $ | 121,394 | |||||||||||
Operating income subsequently reclassified to discontinued operations | (13,283 | ) | (7,056 | ) | (998 | ) | |||||||||||
Operating income disclosed in Form 10-K | $ | 104,246 | $ | 63,977 | $ | 120,396 | |||||||||||
(Loss) from continuing operations previously reported in Form 10-Q | $ | (153,352 | ) | $ | (51,455 | ) | $ | (12,467 | ) | ||||||||
(Loss) from continuing operations subsequently reclassified to discontinued | (11,987 | ) | (7,056 | ) | (998 | ) | |||||||||||
operations | |||||||||||||||||
(Loss) from continuing operations disclosed in Form 10-K | $ | (165,339 | ) | $ | (58,511 | ) | $ | (13,465 | ) | ||||||||
Discontinued operations, net previously reported in Form 10-Q | $ | 1,214,386 | $ | 388,187 | $ | 404,184 | |||||||||||
Discontinued operations, net from properties sold subsequent to the respective | 11,987 | 7,056 | 998 | ||||||||||||||
reporting period | |||||||||||||||||
Discontinued operations, net disclosed in Form 10-K | $ | 1,226,373 | $ | 395,243 | $ | 405,182 | |||||||||||
Business_Details
Business (Details) | Dec. 31, 2013 |
Property/Unit schedule | ' |
Wholly Owned Properties | 362 |
Master Leased Properties Acquired | 3 |
Partially Owned Consolidated Properties | 19 |
Partially Owned Unconsolidated Properties | 4 |
Military Housing Properties | 2 |
Wholly Owned Units | 98,468 |
Master Leased Units | 853 |
Partially Owned Consolidated Units | 3,752 |
Partially Owned Unconsolidated Units | 1,669 |
Military Housing Units | 5,113 |
Business (Textuals) [Abstract] | ' |
Number of operating properties under long-term ground leases | 13 |
Number of land parcels under long-term ground leases | 1 |
Noncontrolling Interest, Ownership Percentage by Parent | 96.20% |
Number of Real Estate Properties | 390 |
Number of Units in Real Estate Property | 109,855 |
Number of States in which Entity Operates | 12 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Compensation (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 26.90% | 27.40% | 27.10% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '5 years 0 months 0 days | '5 years 0 months 0 days | '5 years 0 months 0 days |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 4.12% | 4.35% | 4.56% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.84% | 0.71% | 2.27% |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $7.90 | $8.54 | $8.36 |
Historical Volatility Period Basis | '10 years | ' | ' |
Stock Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $7.97 | $8.55 | $8.18 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Tax (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Deferred Tax Assets Gross | $79,600,000 | ' | ' |
Income Tax Expense (Benefit) | 1,169,000 | 514,000 | 706,000 |
Discontinued Operation, Tax Effect of Discontinued Operation | 449,000 | 34,000 | -221,000 |
Provision for income, franchise and excise taxes | 1,618,000 | 548,000 | 485,000 |
Operating Loss Carryforwards | 63,100,000 | ' | ' |
Tax Treatment Of Dividends And Distributions Ordinary Dividends | $0.66 | $1.38 | $0.67 |
Tax Treatment Of Dividends And Distributions Qualified Dividends | $0.05 | $0 | $0 |
Tax Treatment Of Dividends And Distributions Long Term Capital Gain | $0.87 | $0.25 | $0.63 |
Tax Treatment Of Dividends And Distributions Unrecaptured Section Twelve Hundred And Fifty Gain | $0.27 | $0.15 | $0.28 |
Distributions declared per Common Share outstanding | $1.85 | $1.78 | $1.58 |
Land And Depreciable Property Net | $15,200,000,000 | $11,200,000,000 | ' |
Minimum [Member] | ' | ' | ' |
Operating Loss Carryforwards, Expiration Dates | 1-Jan-28 | ' | ' |
Maximum [Member] | ' | ' | ' |
Operating Loss Carryforwards, Expiration Dates | 31-Dec-32 | ' | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies Text (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 18, 2011 | Aug. 23, 2006 | |
Number Of Unconsolidated Projects | 3 | ' | ' | ' | ' |
Partially Owned Unconsolidated Properties | 4 | ' | ' | ' | ' |
Indirect Ownership Interest Percentage | 1.00% | ' | ' | ' | ' |
Value of furniture and fixtures minimum range | $3,000 | ' | ' | ' | ' |
Value of furniture and fixtures maximum range | 13,000 | ' | ' | ' | ' |
Lease Intangibles, Average Term | 6 | ' | ' | ' | ' |
Capitalized Costs Development and Renovation | 16,500,000 | 14,300,000 | 11,600,000 | ' | ' |
Accumulated Amortization, Deferred Finance Costs | 33,400,000 | 32,200,000 | ' | ' | ' |
Partially Owned Consolidated Properties | 19 | ' | ' | ' | ' |
Partially Owned Consolidated Units | 3,752 | ' | ' | ' | ' |
Noncontrolling Interests - Partially Owned Properties | 126,583,000 | 77,688,000 | ' | ' | ' |
Noncontrolling Interests Settlement Value | 51,200,000 | ' | ' | ' | ' |
Convertible Debt | ' | ' | ' | 482,500,000 | 650,000,000 |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | 3.85% |
Debt Instrument, Interest Rate, Effective Percentage | ' | ' | ' | ' | 5.80% |
Expense incurred, net | 586,854,000 | 455,236,000 | 460,172,000 | ' | ' |
Debt Instrument, Convertible, Carrying Amount of Equity Component | 44,300,000 | ' | ' | ' | 44,300,000 |
Effect Of Change In Accounting Principle On Earnings Net Of Tax | ' | ' | 5,000,000 | ' | ' |
Effect of change in accounting Principle On Earnings Per Share Net Of Tax | ' | ' | $0.02 | ' | ' |
Retained Earnings Decrease | 27,000,000 | ' | ' | ' | ' |
Cumulative effect On Notes From Adoption Of Accounting Principle | 17,300,000 | ' | ' | ' | ' |
Furniture and Fixtures [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '5 | ' | ' | ' | ' |
Furniture and Fixtures Maximum [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '10 | ' | ' | ' | ' |
Building [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '30 | ' | ' | ' | ' |
Building Improvements [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '8 | ' | ' | ' | ' |
Replacements Minimum [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '5 | ' | ' | ' | ' |
Replacements Maximum [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '10 | ' | ' | ' | ' |
Renovations and Improvements Minimum [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '5 | ' | ' | ' | ' |
Renovations and Improvements Maximum [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '15 | ' | ' | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' |
Retail/Commercial Leases Term | 5 | ' | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' |
Retail/Commercial Leases Term | 10 | ' | ' | ' | ' |
Limited Life Partnership Properties [Member] | ' | ' | ' | ' | ' |
Partially Owned Limited Life Partnership Properties | 6 | ' | ' | ' | ' |
Noncontrolling Interest Balance Limited Life Partnerships | -9,800,000 | ' | ' | ' | ' |
Convertible Debt [Member] | ' | ' | ' | ' | ' |
Expense incurred, net | ' | ' | $11,800,000 | ' | ' |
Unconsolidated Development Projects Held for and or Under Development [Domain] | ' | ' | ' | ' | ' |
Number Of Unconsolidated Projects | 1 | ' | ' | ' | ' |
Unconsolidated Operating [Domain] | ' | ' | ' | ' | ' |
Partially Owned Unconsolidated Properties | 4 | ' | ' | ' | ' |
Equity_Capital_and_Other_Inter2
Equity, Capital and Other Interests EQR Common Shares (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Common Stock, Shares, Outstanding January 1, | 360,479,260 | 325,054,654 | 297,508,185 | 290,197,242 |
Common Shares Issued: | ' | ' | ' | ' |
Conversion of OP Units | 67,939 | 675,817 | 341,594 | ' |
Stock Issued During Period, Shares, New Issues | 34,468,085 | 25,023,919 | 3,866,666 | ' |
Exercise of share options | 586,017 | 1,608,427 | 2,945,948 | ' |
Employee Share Purchase Plan (ESPP) | 73,468 | 110,054 | 113,107 | ' |
Restricted Share Grants Net | 229,097 | 128,252 | 145,616 | ' |
Common Shares Other: | ' | ' | ' | ' |
Conversion of restricted shares to LTIP Units | 0 | 0 | -101,988 | ' |
Units | ' | ' | ' | ' |
Common Shares And Units Outstanding | 374,659,636 | 339,023,412 | 311,000,728 | ' |
Units Ownership Interest in Operating Partnership | 3.78% | 4.10% | 4.30% | ' |
OP Units Issued: | ' | ' | ' | ' |
Issue Price Per OP Unit | $0 | $61.57 | $0 | ' |
Valuation Operating Partnership Unit | ' | $66,600,000 | ' | ' |
Limited Partner [Member] | ' | ' | ' | ' |
Common Shares Other: | ' | ' | ' | ' |
Conversion of restricted shares to LTIP Units | 0 | 0 | 101,988 | ' |
Units | ' | ' | ' | ' |
Total Units Outstanding | 14,180,376 | 13,968,758 | 13,492,543 | 13,612,037 |
Issuance Of LTIPs | 279,557 | 70,235 | 120,112 | ' |
Issuance Of Units | 0 | 1,081,797 | 0 | ' |
Shares Issued During Period Shares Conversion Of Units To Common Shares | -67,939 | -675,817 | -341,594 | ' |
OP Units Issued: | ' | ' | ' | ' |
Valuation Operating Partnership Unit | ' | $66,600,000 | ' | ' |
ATM Program [Member] | ' | ' | ' | ' |
Common Shares Issued: | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | 3,200,000 | ' | ' |
Equity_Capital_and_Other_Inter3
Equity, Capital and Other Interest Redeemable (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Redeemable Noncontrolling Interests - Operating Partnership | $363,144 | $398,372 | $416,404 | $383,540 |
Change in market value | -79,667 | -38,734 | 22,714 | ' |
Change in carrying value | 44,439 | 20,702 | 10,150 | ' |
Partnership Interest [Member] | ' | ' | ' | ' |
Redemption Value Limited Partners | 363,144 | 398,372 | 416,404 | 383,540 |
Limited Partners Change In Redemption Value | -79,667 | -38,734 | 22,714 | ' |
Limited Partners Change In Carrying Value | $44,439 | $20,702 | $10,150 | ' |
Equity_Capital_and_Other_Inter4
Equity, Capital and Other Interests Preferred (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Class of Stock [Line Items] | ' | ' | ' |
Preferred Stock, Shares Authorized | 100,000,000 | 100,000,000 | ' |
Preferred Stock, Par or Stated Value Per Share | $0.01 | $0.01 | ' |
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 1,000,000 shares issued and outstanding as of December 31, 2013 and December 31, 2012 | $50,000 | $50,000 | ' |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | -150,000 | 0 |
Series K Preferred Stock [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Preferred Stock Preference Units Issued | 1,000,000 | 1,000,000 | ' |
Preferred Stock Preference Units Outstanding | 1,000,000 | 1,000,000 | ' |
Preferred Stock Preference Units Redemption Price Per Share Unit | $50 | $50 | ' |
Preferred Stock Preference Units Dividend Rate Percentage | 8.29% | 8.29% | ' |
Preferred Stocks Preference Units Redemption Date | 10-Dec-26 | ' | ' |
Annual Dividend Per Preferred Share Preference Unit | $4.14 | ' | ' |
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 1,000,000 shares issued and outstanding as of December 31, 2013 and December 31, 2012 | 50,000 | 50,000 | ' |
Operating Partnership [Member] | Series K Preferred Stock [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Preferred Stock Preference Units Issued | 1,000,000 | 1,000,000 | ' |
Preferred Stock Preference Units Outstanding | 1,000,000 | 1,000,000 | ' |
Preferred Stock Preference Units Redemption Price Per Share Unit | $50 | $50 | ' |
Preferred Stock Preference Units Dividend Rate Percentage | 8.29% | 8.29% | ' |
Preferred Stocks Preference Units Redemption Date | 10-Dec-26 | ' | ' |
Annual Dividend Per Preferred Share Preference Unit | $4.14 | ' | ' |
Preferred Units Value Outstanding | $50,000 | $50,000 | ' |
Equity_Capital_and_Other_Inter5
Equity, Capital and Other Interests ERP Units (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Capital Unit [Line Items] | ' | ' | ' | ' |
Common Shares And Units Outstanding | 374,659,636 | 339,023,412 | 311,000,728 | ' |
Exercise of EQR share options | 586,017 | 1,608,427 | 2,945,948 | ' |
EQR's Employee Share Purchase Plan (ESPP) | 73,468 | 110,054 | 113,107 | ' |
Restricted Share Grants Net | 229,097 | 128,252 | 145,616 | ' |
Conversion of restricted shares to LTIP Units | 0 | 0 | -101,988 | ' |
Units Ownership Interest in Operating Partnership | 3.78% | 4.10% | 4.30% | ' |
OP Units Issued: | ' | ' | ' | ' |
Issue Price Per OP Unit | 0 | 61.57 | 0 | ' |
Valuation Operating Partnership Unit | ' | 66,600,000 | ' | ' |
General And Limited Partner [Member] | ' | ' | ' | ' |
Capital Unit [Line Items] | ' | ' | ' | ' |
Common Shares And Units Outstanding | 374,659,636 | 339,023,412 | 311,000,728 | 303,809,279 |
Issuance of OP Units | 34,468,085 | 25,023,919 | ' | ' |
Exercise of EQR share options | 586,017 | 1,608,427 | 2,945,948 | ' |
EQR's Employee Share Purchase Plan (ESPP) | 73,468 | 110,054 | 113,107 | ' |
Restricted Share Grants Net | 229,097 | 128,252 | 145,616 | ' |
Issuance Of LTIPs | 279,557 | 70,235 | 120,112 | ' |
Issuance Of Units | 0 | 1,081,797 | 0 | ' |
Limited Partner [Member] | ' | ' | ' | ' |
Capital Unit [Line Items] | ' | ' | ' | ' |
Issuance Of LTIPs | 279,557 | 70,235 | 120,112 | ' |
Issuance Of Units | 0 | 1,081,797 | 0 | ' |
Total Units Outstanding | 14,180,376 | 13,968,758 | 13,492,543 | 13,612,037 |
Conversion of restricted shares to LTIP Units | 0 | 0 | 101,988 | ' |
Shares Issued During Period Shares Conversion Of Units To Common Shares | -67,939 | -675,817 | -341,594 | ' |
Units Ownership Interest in Operating Partnership | 3.80% | 4.10% | 4.30% | ' |
OP Units Issued: | ' | ' | ' | ' |
Issue Price Per OP Unit | 0 | 61.57 | 0 | ' |
Equity_Capital_and_Other_Inter6
Equity, Capital and Other Interests Text (Details) (USD $) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Preferred Stock, Shares Authorized | ' | 100,000,000 | 100,000,000 | ' |
Additional Common Shares Authorized | ' | 13,000,000 | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | 34,468,085 | 25,023,919 | 3,866,666 |
Average Price Per Common Share Issued | ' | ' | $60.59 | $52.23 |
Stock Issued During Period, Value, New Issues | ' | ' | $192,300,000 | $201,900,000 |
Payments of Stock Issuance Costs | ' | 1,047,000 | 39,359,000 | 3,596,000 |
Units Issued During Period New Issues | ' | ' | 3,200,000 | 3,900,000 |
Common Stock Capital Shares Reserved For Future Issuance Under Share Offering Program | ' | 17,000,000 | ' | ' |
Common Shares Added To Atm Program | ' | 5,700,000 | ' | ' |
Shares not settled | ' | ' | ' | 500,000 |
Consideration From Shares Not Settled | ' | ' | ' | 28,500,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | 12,980,741 | 12,980,741 | ' |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 464,600,000 | ' | ' | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | 13,000,000 | ' | ' |
Payments for Repurchase of Preferred Stock and Preference Stock | ' | 0 | 150,000,000 | 0 |
Issuance Of Units To Noncontrolling Interests | ' | ' | 1,081,797 | ' |
Price Per Unit Issued | ' | ' | $61.57 | ' |
Properties acquired | ' | ' | 1 | ' |
Proceeds from Issuance of Common Limited Partners Units | ' | ' | 66,600,000 | ' |
Partially Owned Properties Acquired Properties | ' | ' | 1 | 3 |
Partially Owned Units Acquired Units | ' | ' | ' | 1,351 |
Change in Paid In Capital | ' | ' | 1,300,000 | -4,800,000 |
Reduction In Partially Owned Properties | ' | ' | 1,300,000 | 8,000,000 |
Archstone Transaction [Member] | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | 34,468,085 | ' | ' |
Average Price Per Common Share Issued | ' | $55.99 | ' | ' |
Stock Issued During Period, Value, New Issues | ' | 1,900,000,000 | ' | ' |
Units Issued During Period New Issues | ' | 34,468,085 | ' | ' |
Public Offering [Member] | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | 21,850,000 | ' |
Average Price Per Common Share Issued | ' | ' | $54.75 | ' |
Stock Issued During Period, Value, New Issues | ' | ' | 1,200,000,000 | ' |
Payments of Stock Issuance Costs | ' | ' | 35,900,000 | ' |
Units Issued During Period New Issues | ' | ' | 21,850,000 | ' |
General And Limited Partner [Member] | ' | ' | ' | ' |
Stock Issued During Period Shares | ' | 34,468,085 | 25,023,919 | ' |
Series N Preferred Stock [Member] | ' | ' | ' | ' |
Payments for Repurchase of Preferred Stock and Preference Stock | ' | 150,000,000 | ' | ' |
Premium on Redemption of Preferred Shares Preference Units Original Issuance | ' | 5,100,000 | ' | ' |
Partner Buyout [Member] | ' | ' | ' | ' |
Purchase Price, Business Acquisition, Cost of Acquired Entity | ' | ' | ' | $12,800,000 |
ATM Program [Member] | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | 3,200,000 | ' |
ATM Program [Member] | General And Limited Partner [Member] | ' | ' | ' | ' |
Stock Issued During Period Shares | ' | ' | ' | 3,866,666 |
Real_Estate_Real_Estate_Detail
Real Estate Real Estate (Details) (USD $) | 12 Months Ended | 48 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Land | $6,192,512,000 | $4,554,912,000 | ' | $6,192,512,000 |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Investment Building and Building Improvements | 17,509,609,000 | 14,135,740,000 | ' | 17,509,609,000 |
Fixtures and Equipment, Gross | 1,214,220,000 | 1,343,765,000 | ' | 1,214,220,000 |
Finite-Lived Intangible Assets, Gross | 502,218,000 | 232,439,000 | ' | 502,218,000 |
Development in Process | 988,867,000 | 387,750,000 | ' | 988,867,000 |
Land Available for Development | 393,522,000 | 353,823,000 | ' | 393,522,000 |
Real Estate Investment Property, at Cost | 26,800,948,000 | 21,008,429,000 | ' | 26,800,948,000 |
Real Estate Investment Property, Accumulated Depreciation | -4,807,709,000 | -4,912,221,000 | ' | -4,807,709,000 |
Investment in real estate, net | 21,993,239,000 | 16,096,208,000 | ' | 21,993,239,000 |
Ground Lease Intangibles Below Market | 178,251,000 | ' | ' | 178,251,000 |
Retail Lease Intangibles Above Market | 1,260,000 | ' | ' | 1,260,000 |
Lease Intangible Assets | 179,511,000 | ' | ' | 179,511,000 |
Accumulated Amortization Intangible Assets | -4,364,000 | ' | ' | -4,364,000 |
Lease Intangible Assets, Net | 175,147,000 | ' | ' | 175,147,000 |
Ground Lease Intangibles Above Market | 2,400,000 | ' | ' | 2,400,000 |
Retail Lease Intangibles Below Market | 5,500,000 | ' | ' | 5,500,000 |
Lease Intangible Liabilities | 7,900,000 | ' | ' | 7,900,000 |
Amortization Of Intangible Liabilities | -1,161,000 | ' | ' | -1,161,000 |
Lease Intangible Liabilities, net | 6,739,000 | ' | ' | 6,739,000 |
Ground Lease Amortization | 3,600,000 | ' | ' | ' |
Retail Lease Amortization | 2,700,000 | ' | ' | ' |
Weighted Average Ground Lease Amortization Period | 49.8 | ' | ' | 49.8 |
Weighted Average Retail Lease Amortization Period | 2.8 | ' | ' | 2.8 |
Properties acquired | ' | 1 | ' | ' |
Master Leased Properties Acquired | 3 | ' | ' | 3 |
Acquisition of Archstone, net of cash acquired | 4,000,875,000 | 0 | 0 | ' |
Mortgage notes payable | 5,174,166,000 | 3,898,369,000 | ' | 5,174,166,000 |
Stock Issued During Period, Shares, New Issues | 34,468,085 | 25,023,919 | 3,866,666 | ' |
Stock Issued During Period, Value, New Issues | ' | 192,300,000 | 201,900,000 | ' |
Average Price Per Common Share Issued | ' | $60.59 | $52.23 | ' |
Noncash or Part Noncash Acquisition, Debt Assumed | 34,100,000 | 137,600,000 | ' | ' |
Mark-to-Market Debt Premiums | 127,900,000 | ' | ' | ' |
Number Of Operating Properties Under Long Term Ground Leases | 13 | ' | ' | 13 |
Business Combination, Acquisition Related Costs | 300,000 | 7,000,000 | 7,700,000 | 94,700,000 |
Payments of Financing Costs | 16,526,000 | 21,209,000 | 20,421,000 | ' |
Merger Expenses | 19,864,000 | 5,619,000 | 1,736,000 | 81,200,000 |
(Loss) from investments in unconsolidated entities due to merger expenses | -54,004,000 | 0 | 0 | ' |
Business Acquisition, Pro Forma Revenue | 2,485,438,000 | 2,317,699,000 | ' | ' |
Business Acquisition, Proforma Income Loss From Continuing Operations | 203,286,000 | -54,940,000 | ' | ' |
Business Acquisition, Proforma Income Loss From Discontinued Operations Net Of Tax | 2,074,072,000 | 720,361,000 | ' | ' |
Business Acquisition, Pro Forma Net Income (Loss) | 2,277,358,000 | 665,421,000 | ' | ' |
Business Acquisition, Proforma Net Income Available to Common Shares | 2,183,756,000 | 622,424,000 | ' | ' |
Business Acquisition, Pro Forma Earnings Per Share, Basic | $6.07 | $1.74 | ' | ' |
Business Acquisition, Proforma Weighted Average Common Shares Basic | 359,688,000 | 356,984,000 | ' | ' |
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $6.05 | $1.74 | ' | ' |
Business Acquisition, Proforma Weighted Average Number Of Shares Diluted | 375,861,000 | 356,984,000 | ' | ' |
Consolidated Properties [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Uncompleted Development Properties Acquired | 2 | ' | ' | 2 |
Archstone [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Acquisition of Archstone, net of cash acquired | 4,000,000,000 | ' | ' | ' |
Mortgage notes payable | 2,000,000,000 | ' | ' | 2,000,000,000 |
Noncash or Part Noncash Acquisition, Debt Assumed | 3,100,000,000 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land | 2,239,000,000 | ' | ' | 2,239,000,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 304,830,000 | ' | ' | 304,830,000 |
Business Combination Purchase Price Allocation Projects Under Development | 36,583,000 | ' | ' | 36,583,000 |
Business Combination Purchase Price Allocation Land Held for Development | 244,097,000 | ' | ' | 244,097,000 |
Business Combination Purchase Price Allocation Investments in Unconsolidated Entities | 196,615,000 | ' | ' | 196,615,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | 195,260,000 | ' | ' | 195,260,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | -112,107,000 | ' | ' | -112,107,000 |
Payments of Financing Costs | 2,500,000 | 8,400,000 | 2,600,000 | 13,500,000 |
Severance Costs | 54,100,000 | ' | ' | ' |
2014 [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Ground Lease Intangibles Amortization 5 Year | 4,321,000 | ' | ' | 4,321,000 |
Retail Lease Intangibles Amortization 5 Year | -1,010,000 | ' | ' | -1,010,000 |
Total Above And Below Market Ground Lease Intangibles And Retail Lease Intangibles 5 Year | 3,311,000 | ' | ' | 3,311,000 |
2015 [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Ground Lease Intangibles Amortization 5 Year | 4,321,000 | ' | ' | 4,321,000 |
Retail Lease Intangibles Amortization 5 Year | -1,016,000 | ' | ' | -1,016,000 |
Total Above And Below Market Ground Lease Intangibles And Retail Lease Intangibles 5 Year | 3,305,000 | ' | ' | 3,305,000 |
2016 [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Ground Lease Intangibles Amortization 5 Year | 4,321,000 | ' | ' | 4,321,000 |
Retail Lease Intangibles Amortization 5 Year | -908,000 | ' | ' | -908,000 |
Total Above And Below Market Ground Lease Intangibles And Retail Lease Intangibles 5 Year | 3,413,000 | ' | ' | 3,413,000 |
2017 [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Ground Lease Intangibles Amortization 5 Year | 4,321,000 | ' | ' | 4,321,000 |
Retail Lease Intangibles Amortization 5 Year | -540,000 | ' | ' | -540,000 |
Total Above And Below Market Ground Lease Intangibles And Retail Lease Intangibles 5 Year | 3,781,000 | ' | ' | 3,781,000 |
2018 [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Ground Lease Intangibles Amortization 5 Year | 4,321,000 | ' | ' | 4,321,000 |
Retail Lease Intangibles Amortization 5 Year | -71,000 | ' | ' | -71,000 |
Total Above And Below Market Ground Lease Intangibles And Retail Lease Intangibles 5 Year | 4,250,000 | ' | ' | 4,250,000 |
Building and Building Improvements [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 5,805,467,000 | ' | ' | 5,805,467,000 |
Furniture and Fixtures [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 61,470,000 | ' | ' | 61,470,000 |
Archstone Transaction [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Ground Lease Intangibles Below Market | 178,251,000 | ' | ' | 178,251,000 |
Retail Lease Intangibles Above Market | 1,260,000 | ' | ' | 1,260,000 |
Ground Lease Intangibles Above Market | 2,400,000 | ' | ' | 2,400,000 |
Retail Lease Intangibles Below Market | 8,040,000 | ' | ' | 8,040,000 |
Business Acquisition, Percentage of Voting Interests Acquired | 60.00% | ' | ' | 60.00% |
Properties acquired | 71 | ' | ' | ' |
Partially Owned Consolidated Properties Acquired | 1 | ' | ' | 1 |
Partially Owned Consolidated Units Acquired | 432 | ' | ' | 432 |
Partially Owned Unconsolidated Properties Acquired | 1 | ' | ' | 1 |
Partially Owned Unconsolidated Units Acquired | 336 | ' | ' | 336 |
Master Leased Properties Acquired | 3 | ' | ' | 3 |
Master Leased Units Acquired | 853 | ' | ' | 853 |
Uncompleted Development Properties Acquired | 4 | ' | ' | 4 |
Uncompleted Development Units Acquired | 964 | ' | ' | 964 |
Land parcels acquired | 14 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 8,971,215,000 | ' | ' | 8,971,215,000 |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 514,700,000 | ' | ' | ' |
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 352,800,000 | ' | ' | ' |
Number Of Operating Properties Under Long Term Ground Leases | 9 | ' | ' | 9 |
Unconsolidated Properties [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Uncompleted Development Properties Acquired | 2 | ' | ' | 2 |
Projects under development [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Land Under Development | 353,574,000 | 210,632,000 | ' | 353,574,000 |
Development in Process | 635,293,000 | 177,118,000 | ' | 635,293,000 |
Land held for development [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Development in Process | 52,133,000 | 58,955,000 | ' | 52,133,000 |
Land Available for Development | 341,389,000 | 294,868,000 | ' | 341,389,000 |
Archstone Transaction [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Property Units Acquired | 20,160 | ' | ' | ' |
OPERATING PARTNERSHIP | ' | ' | ' | ' |
Land | 6,192,512,000 | 4,554,912,000 | ' | 6,192,512,000 |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Development in Process | 988,867,000 | 387,750,000 | ' | 988,867,000 |
Land Available for Development | 393,522,000 | 353,823,000 | ' | 393,522,000 |
Real Estate Investment Property, at Cost | 26,800,948,000 | 21,008,429,000 | ' | 26,800,948,000 |
Real Estate Investment Property, Accumulated Depreciation | -4,807,709,000 | -4,912,221,000 | ' | -4,807,709,000 |
Investment in real estate, net | 21,993,239,000 | 16,096,208,000 | ' | 21,993,239,000 |
Acquisition of Archstone, net of cash acquired | 4,000,875,000 | 0 | 0 | ' |
Mortgage notes payable | 5,174,166,000 | 3,898,369,000 | ' | 5,174,166,000 |
Payments of Financing Costs | 16,526,000 | 21,209,000 | 20,421,000 | ' |
Merger Expenses | 19,864,000 | 5,619,000 | 1,736,000 | ' |
(Loss) from investments in unconsolidated entities due to merger expenses | -54,004,000 | 0 | 0 | ' |
Business Acquisition, Pro Forma Revenue | 2,485,438,000 | 2,317,699,000 | ' | ' |
Business Acquisition, Proforma Income Loss From Continuing Operations | 203,286,000 | -54,940,000 | ' | ' |
Business Acquisition, Proforma Income Loss From Discontinued Operations Net Of Tax | 2,074,072,000 | 720,361,000 | ' | ' |
Business Acquisition, Pro Forma Net Income (Loss) | 2,277,358,000 | 665,421,000 | ' | ' |
Business Acquisition, Proforma Net Income Available to Units | 2,273,798,000 | 651,548,000 | ' | ' |
Business Acquisition, Pro Forma Earnings Per Share, Basic | $6.07 | $1.74 | ' | ' |
Business Acquisition, Proforma Weighted Average Limited Partnership And General Partnership Units Outstanding Basic | 373,421,000 | 370,837,000 | ' | ' |
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $6.05 | $1.74 | ' | ' |
Business Acquisition, Proforma Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Diluted | 375,861,000 | 370,837,000 | ' | ' |
Archstone Transaction [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | 34,468,085 | ' | ' | ' |
Stock Issued During Period, Value, New Issues | 1,900,000,000 | ' | ' | ' |
Average Price Per Common Share Issued | $55.99 | ' | ' | ' |
DelayedDrawTermLoan [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Term Loan Principal Amount | $750,000,000 | ' | ' | $750,000,000 |
Consolidated Rental Properties [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Properties acquired | 1 | 9 | ' | ' |
Property Units Acquired | 322 | 1,896 | ' | ' |
Land [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Property Units Acquired | 0 | 0 | ' | ' |
Land parcels acquired | 1 | 6 | ' | ' |
Real_Estate_Real_Estate_Detail1
Real Estate Real Estate (Details 2) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Properties acquired | ' | 1 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $108,000,000 | $1,047,545,000 | ' |
Disposed Properties | 94 | 35 | ' |
Disposed Units | 29,180 | 9,012 | ' |
Proceeds From Sale Of Property | 4,616,073,000 | 1,061,334,000 | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 2,036,505,000 | 548,278,000 | 826,489,000 |
Net gain on sales of land parcels | 12,227,000 | 0 | 4,217,000 |
Consolidated Rental Properties [Member] | ' | ' | ' |
Properties acquired | 1 | 9 | ' |
Property Units Acquired | 322 | 1,896 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 91,500,000 | 906,305,000 | ' |
Disposed Properties | 94 | 35 | ' |
Disposed Units | 29,180 | 9,012 | ' |
Proceeds From Sale Of Property | 4,459,339,000 | 1,061,334,000 | ' |
Land [Member] | ' | ' | ' |
Property Units Acquired | 0 | 0 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 16,500,000 | 141,240,000 | ' |
Proceeds From Sale Of Property | 99,650,000 | ' | ' |
Land parcels acquired | 1 | 6 | ' |
Disposed Land Parcels | 7 | ' | ' |
Unconsolidated Land Parcel Disposition | 1 | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' |
Proceeds From Sale Of Property | 30,734,000 | ' | ' |
Commercial Properties Disposed | 1 | ' | ' |
Unconsolidated Institutional Joint Ventures [Member] | ' | ' | ' |
Proceeds From Sale Of Property | $26,350,000 | ' | ' |
Commitments_to_AcquireDispose_2
Commitments to Acquire/Dispose of Real Estate (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Land Parcel [Member] | ' |
Commitments to Acquire Real Estate | ' |
Purchase Price For Commitments To Acquire | $10,290 |
Land Parcel [Member] | ' |
Commitments to Acquire Real Estate | ' |
Land Parcels Contracted to be Acquired | 1 |
Commitments to Dispose of Real Estate | ' |
Land Parcels Contracted to be Disposed | 1 |
Sales price-Rental Properties | $40,300 |
Investments_in_Partially_Owned2
Investments in Partially Owned Entities (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Aug. 23, 2006 | |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Joint Venture Partner Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' |
Disposed Properties | ' | ' | ' | ' | ' | ' | ' | 94 | 35 | ' | ' | ' |
Disposed Units | ' | ' | ' | ' | ' | ' | ' | 29,180 | 9,012 | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | ' | ' | ' | ' | ' | ' | ' | $5,000,000 | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.85% |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | 1-Sep-14 | ' | ' | ' | ' |
Preferred Interests | ' | ' | ' | ' | ' | ' | ' | 65,000,000 | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | ' | ' | ' | 1,047,545,000 | ' | ' | ' | 108,000,000 | 1,047,545,000 | ' | ' | ' |
Investment in Joint Venture | ' | ' | ' | ' | ' | ' | ' | 292,600,000 | ' | ' | ' | ' |
Number of Joint Ventures | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' |
Partners Payments To Acquire Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | 40,100,000 | ' | ' | ' | ' |
Partially Owned Property Balance Sheet Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Consolidated Properties | ' | ' | ' | ' | ' | ' | ' | 19 | ' | ' | ' | ' |
Partially Owned Unconsolidated Properties | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' |
Partially Owned Consolidated Units | ' | ' | ' | ' | ' | ' | ' | 3,752 | ' | ' | ' | ' |
Partially Owned Unconsolidated Units | ' | ' | ' | ' | ' | ' | ' | 1,669 | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real Estate Investment Property, at Cost | ' | ' | ' | 21,008,429,000 | ' | ' | ' | 26,800,948,000 | 21,008,429,000 | ' | ' | ' |
Real Estate Investment Property, Accumulated Depreciation | ' | ' | ' | -4,912,221,000 | ' | ' | ' | -4,807,709,000 | -4,912,221,000 | ' | ' | ' |
Investment in real estate, net | ' | ' | ' | 16,096,208,000 | ' | ' | ' | 21,993,239,000 | 16,096,208,000 | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | 612,590,000 | ' | ' | ' | 53,534,000 | 612,590,000 | 383,921,000 | 431,408,000 | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | ' | 17,877,000 | ' | ' | ' | 178,526,000 | 17,877,000 | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | ' | ' | 250,442,000 | ' | ' | ' | 103,567,000 | 250,442,000 | ' | ' | ' |
Deferred financing costs, net | ' | ' | ' | 44,382,000 | ' | ' | ' | 58,486,000 | 44,382,000 | ' | ' | ' |
Other assets | ' | ' | ' | 170,372,000 | ' | ' | ' | 404,557,000 | 170,372,000 | ' | ' | ' |
Total assets | ' | ' | ' | 17,201,000,000 | ' | ' | ' | 22,834,545,000 | 17,201,000,000 | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | 3,898,369,000 | ' | ' | ' | 5,174,166,000 | 3,898,369,000 | ' | ' | ' |
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | ' | ' | ' | 38,372,000 | ' | ' | ' | 118,791,000 | 38,372,000 | ' | ' | ' |
Accrued interest payable | ' | ' | ' | 76,223,000 | ' | ' | ' | 78,309,000 | 76,223,000 | ' | ' | ' |
Other liabilities | ' | ' | ' | 304,518,000 | ' | ' | ' | 347,748,000 | 304,518,000 | ' | ' | ' |
Security Deposit Liability | ' | ' | ' | 66,988,000 | ' | ' | ' | 71,592,000 | 66,988,000 | ' | ' | ' |
Total liabilities | ' | ' | ' | 9,275,521,000 | ' | ' | ' | 11,626,205,000 | 9,275,521,000 | ' | ' | ' |
Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | 77,688,000 | ' | ' | ' | 126,583,000 | 77,688,000 | ' | ' | ' |
Total liabilities and equity | ' | ' | ' | 17,201,000,000 | ' | ' | ' | 22,834,545,000 | 17,201,000,000 | ' | ' | ' |
Partially Owned Property Income Statement Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenue | ' | ' | ' | ' | ' | ' | ' | 2,387,702,000 | 1,747,502,000 | 1,525,220,000 | ' | ' |
Depreciation | ' | ' | ' | ' | ' | ' | ' | 978,973,000 | 560,669,000 | 506,175,000 | ' | ' |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | 62,179,000 | 47,233,000 | 43,604,000 | ' | ' |
Operating income | 120,396,000 | 63,977,000 | 104,246,000 | 148,247,000 | 142,020,000 | 121,745,000 | 102,110,000 | 512,288,000 | 514,122,000 | 406,509,000 | ' | ' |
Interest and Other Income | ' | ' | ' | ' | ' | ' | ' | 4,656,000 | 150,546,000 | 7,963,000 | ' | ' |
Interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense incurred, net | ' | ' | ' | ' | ' | ' | ' | -586,854,000 | -455,236,000 | -460,172,000 | ' | ' |
Amortization of Financing Costs | ' | ' | ' | ' | ' | ' | ' | -22,197,000 | -21,295,000 | -16,616,000 | ' | ' |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | ' | ' | ' | ' | ' | ' | ' | -121,076,000 | 160,826,000 | -76,452,000 | ' | ' |
Income and other tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | -1,169,000 | -514,000 | -706,000 | ' | ' |
(Loss) from investments in unconsolidated entities due to operations | ' | ' | ' | ' | ' | ' | ' | -4,159,000 | -14,000 | 0 | ' | ' |
Net gain on sales of land parcels | ' | ' | ' | ' | ' | ' | ' | 12,227,000 | 0 | 4,217,000 | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | ' | ' | ' | ' | ' | 2,036,505,000 | 548,278,000 | 826,489,000 | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | 1,905,353,000 | 881,204,000 | 935,197,000 | ' | ' |
Consolidated Development Projects Held for and or Under Development [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Property Balance Sheet Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Consolidated Properties | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Partially Owned Consolidated Units | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real Estate Investment Property, at Cost | ' | ' | ' | ' | ' | ' | ' | 342,222,000 | ' | ' | ' | ' |
Real Estate Investment Property, Accumulated Depreciation | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Investment in real estate, net | ' | ' | ' | ' | ' | ' | ' | 342,222,000 | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | 4,704,000 | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | ' | ' | ' | ' | ' | ' | 43,654,000 | ' | ' | ' | ' |
Deferred financing costs, net | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | 5,841,000 | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | ' | ' | 396,421,000 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | ' | ' | ' | ' | ' | ' | ' | 21,569,000 | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' | ' | ' | ' | 1,157,000 | ' | ' | ' | ' |
Security Deposit Liability | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | ' | ' | 22,736,000 | ' | ' | ' | ' |
Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 114,245,000 | ' | ' | ' | ' |
Parent Equity Interest | ' | ' | ' | ' | ' | ' | ' | 259,440,000 | ' | ' | ' | ' |
Total Equity Interest | ' | ' | ' | ' | ' | ' | ' | 373,685,000 | ' | ' | ' | ' |
Total liabilities and equity | ' | ' | ' | ' | ' | ' | ' | 396,421,000 | ' | ' | ' | ' |
Partially Owned Property Income Statement Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenue | ' | ' | ' | ' | ' | ' | ' | 231,000 | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | 741,000 | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | -510,000 | ' | ' | ' | ' |
Depreciation | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | 882,000 | ' | ' | ' | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | -1,392,000 | ' | ' | ' | ' |
Interest and Other Income | ' | ' | ' | ' | ' | ' | ' | 2,000 | ' | ' | ' | ' |
Other Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | -503,000 | ' | ' | ' | ' |
Interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense incurred, net | ' | ' | ' | ' | ' | ' | ' | -2,000 | ' | ' | ' | ' |
Amortization of Financing Costs | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | ' | ' | ' | ' | ' | ' | ' | -1,895,000 | ' | ' | ' | ' |
Income and other tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | -11,000 | ' | ' | ' | ' |
(Loss) from investments in unconsolidated entities due to operations | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Net gain on sales of land parcels | ' | ' | ' | ' | ' | ' | ' | -17,000 | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | -1,923,000 | ' | ' | ' | ' |
Consolidated Operating [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Property Balance Sheet Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Consolidated Properties | ' | ' | ' | ' | ' | ' | ' | 19 | ' | ' | ' | ' |
Partially Owned Consolidated Units | ' | ' | ' | ' | ' | ' | ' | 3,752 | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real Estate Investment Property, at Cost | ' | ' | ' | ' | ' | ' | ' | 673,957,000 | ' | ' | ' | ' |
Real Estate Investment Property, Accumulated Depreciation | ' | ' | ' | ' | ' | ' | ' | -172,802,000 | ' | ' | ' | ' |
Investment in real estate, net | ' | ' | ' | ' | ' | ' | ' | 501,155,000 | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | 22,792,000 | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | ' | ' | ' | ' | ' | 54,439,000 | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | ' | ' | ' | ' | ' | ' | 220,000 | ' | ' | ' | ' |
Deferred financing costs, net | ' | ' | ' | ' | ' | ' | ' | 2,496,000 | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | 26,899,000 | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | ' | ' | 608,001,000 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 360,130,000 | ' | ' | ' | ' |
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | ' | ' | ' | ' | ' | ' | ' | 1,113,000 | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' | ' | ' | ' | 1,283,000 | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' | ' | ' | ' | 1,487,000 | ' | ' | ' | ' |
Security Deposit Liability | ' | ' | ' | ' | ' | ' | ' | 1,828,000 | ' | ' | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | ' | ' | 365,841,000 | ' | ' | ' | ' |
Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 12,338,000 | ' | ' | ' | ' |
Parent Equity Interest | ' | ' | ' | ' | ' | ' | ' | 229,822,000 | ' | ' | ' | ' |
Total Equity Interest | ' | ' | ' | ' | ' | ' | ' | 242,160,000 | ' | ' | ' | ' |
Total liabilities and equity | ' | ' | ' | ' | ' | ' | ' | 608,001,000 | ' | ' | ' | ' |
Partially Owned Property Income Statement Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenue | ' | ' | ' | ' | ' | ' | ' | 80,968,000 | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | 24,888,000 | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | 56,080,000 | ' | ' | ' | ' |
Depreciation | ' | ' | ' | ' | ' | ' | ' | 31,824,000 | ' | ' | ' | ' |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | 93,000 | ' | ' | ' | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | 24,163,000 | ' | ' | ' | ' |
Interest and Other Income | ' | ' | ' | ' | ' | ' | ' | 3,000 | ' | ' | ' | ' |
Other Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | -5,000 | ' | ' | ' | ' |
Interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense incurred, net | ' | ' | ' | ' | ' | ' | ' | -14,561,000 | ' | ' | ' | ' |
Amortization of Financing Costs | ' | ' | ' | ' | ' | ' | ' | -301,000 | ' | ' | ' | ' |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | ' | ' | ' | ' | ' | ' | ' | 9,299,000 | ' | ' | ' | ' |
Income and other tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | -56,000 | ' | ' | ' | ' |
(Loss) from investments in unconsolidated entities due to operations | ' | ' | ' | ' | ' | ' | ' | -1,387,000 | ' | ' | ' | ' |
Net gain on sales of land parcels | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | ' | ' | ' | ' | ' | 26,673,000 | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | 34,529,000 | ' | ' | ' | ' |
Consolidated Total [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Property Balance Sheet Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Consolidated Properties | ' | ' | ' | ' | ' | ' | ' | 19 | ' | ' | ' | ' |
Partially Owned Consolidated Units | ' | ' | ' | ' | ' | ' | ' | 3,752 | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real Estate Investment Property, at Cost | ' | ' | ' | ' | ' | ' | ' | 1,016,179,000 | ' | ' | ' | ' |
Real Estate Investment Property, Accumulated Depreciation | ' | ' | ' | ' | ' | ' | ' | -172,802,000 | ' | ' | ' | ' |
Investment in real estate, net | ' | ' | ' | ' | ' | ' | ' | 843,377,000 | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | 27,496,000 | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | ' | ' | ' | ' | ' | 54,439,000 | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | ' | ' | ' | ' | ' | ' | 43,874,000 | ' | ' | ' | ' |
Deferred financing costs, net | ' | ' | ' | ' | ' | ' | ' | 2,496,000 | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | 32,740,000 | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | ' | ' | 1,004,422,000 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 360,130,000 | ' | ' | ' | ' |
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | ' | ' | ' | ' | ' | ' | ' | 22,682,000 | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' | ' | ' | ' | 1,283,000 | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' | ' | ' | ' | 2,644,000 | ' | ' | ' | ' |
Security Deposit Liability | ' | ' | ' | ' | ' | ' | ' | 1,838,000 | ' | ' | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | ' | ' | 388,577,000 | ' | ' | ' | ' |
Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 126,583,000 | ' | ' | ' | ' |
Parent Equity Interest | ' | ' | ' | ' | ' | ' | ' | 489,262,000 | ' | ' | ' | ' |
Total Equity Interest | ' | ' | ' | ' | ' | ' | ' | 615,845,000 | ' | ' | ' | ' |
Total liabilities and equity | ' | ' | ' | ' | ' | ' | ' | 1,004,422,000 | ' | ' | ' | ' |
Partially Owned Property Income Statement Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenue | ' | ' | ' | ' | ' | ' | ' | 81,199,000 | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | 25,629,000 | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | 55,570,000 | ' | ' | ' | ' |
Depreciation | ' | ' | ' | ' | ' | ' | ' | 31,824,000 | ' | ' | ' | ' |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | 975,000 | ' | ' | ' | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | 22,771,000 | ' | ' | ' | ' |
Interest and Other Income | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' |
Other Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | -508,000 | ' | ' | ' | ' |
Interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense incurred, net | ' | ' | ' | ' | ' | ' | ' | -14,563,000 | ' | ' | ' | ' |
Amortization of Financing Costs | ' | ' | ' | ' | ' | ' | ' | -301,000 | ' | ' | ' | ' |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | ' | ' | ' | ' | ' | ' | ' | 7,404,000 | ' | ' | ' | ' |
Income and other tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | -67,000 | ' | ' | ' | ' |
(Loss) from investments in unconsolidated entities due to operations | ' | ' | ' | ' | ' | ' | ' | -1,387,000 | ' | ' | ' | ' |
Net gain on sales of land parcels | ' | ' | ' | ' | ' | ' | ' | -17,000 | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | ' | ' | ' | ' | ' | 26,673,000 | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | 32,606,000 | ' | ' | ' | ' |
Unconsolidated Development Projects Held for and or Under Development [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Property Balance Sheet Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Unconsolidated Properties | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Partially Owned Unconsolidated Units | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real Estate Investment Property, at Cost | ' | ' | ' | ' | ' | ' | ' | 45,123,000 | ' | ' | ' | ' |
Real Estate Investment Property, Accumulated Depreciation | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Investment in real estate, net | ' | ' | ' | ' | ' | ' | ' | 45,123,000 | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | 262,000 | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Deferred financing costs, net | ' | ' | ' | ' | ' | ' | ' | 77,000 | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | ' | ' | 45,462,000 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 11,379,000 | ' | ' | ' | ' |
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | ' | ' | ' | ' | ' | ' | ' | 4,433,000 | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' | ' | ' | ' | 23,000 | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' | ' | ' | ' | 339,000 | ' | ' | ' | ' |
Security Deposit Liability | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | ' | ' | 16,174,000 | ' | ' | ' | ' |
Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 27,858,000 | ' | ' | ' | ' |
Parent Equity Interest | ' | ' | ' | ' | ' | ' | ' | 1,430,000 | ' | ' | ' | ' |
Total Equity Interest | ' | ' | ' | ' | ' | ' | ' | 29,288,000 | ' | ' | ' | ' |
Total liabilities and equity | ' | ' | ' | ' | ' | ' | ' | 45,462,000 | ' | ' | ' | ' |
Partially Owned Property Income Statement Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenue | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | 135,000 | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | -135,000 | ' | ' | ' | ' |
Depreciation | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | -135,000 | ' | ' | ' | ' |
Interest and Other Income | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Other Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense incurred, net | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Amortization of Financing Costs | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | ' | ' | ' | ' | ' | ' | ' | -135,000 | ' | ' | ' | ' |
Income and other tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
(Loss) from investments in unconsolidated entities due to operations | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Net gain on sales of land parcels | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | -135,000 | ' | ' | ' | ' |
Unconsolidated Completed, Not Stabilized [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Property Balance Sheet Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Unconsolidated Properties | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' |
Partially Owned Unconsolidated Units | ' | ' | ' | ' | ' | ' | ' | 1,333 | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real Estate Investment Property, at Cost | ' | ' | ' | ' | ' | ' | ' | 284,264,000 | ' | ' | ' | ' |
Real Estate Investment Property, Accumulated Depreciation | ' | ' | ' | ' | ' | ' | ' | -1,887,000 | ' | ' | ' | ' |
Investment in real estate, net | ' | ' | ' | ' | ' | ' | ' | 282,377,000 | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | 1,505,000 | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | ' | ' | ' | ' | ' | ' | 95,000 | ' | ' | ' | ' |
Deferred financing costs, net | ' | ' | ' | ' | ' | ' | ' | 129,000 | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | 355,000 | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | ' | ' | 284,461,000 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 172,279,000 | ' | ' | ' | ' |
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | ' | ' | ' | ' | ' | ' | ' | 3,844,000 | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' | ' | ' | ' | 693,000 | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' | ' | ' | ' | 572,000 | ' | ' | ' | ' |
Security Deposit Liability | ' | ' | ' | ' | ' | ' | ' | 222,000 | ' | ' | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | ' | ' | 177,610,000 | ' | ' | ' | ' |
Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 73,902,000 | ' | ' | ' | ' |
Parent Equity Interest | ' | ' | ' | ' | ' | ' | ' | 32,949,000 | ' | ' | ' | ' |
Total Equity Interest | ' | ' | ' | ' | ' | ' | ' | 106,851,000 | ' | ' | ' | ' |
Total liabilities and equity | ' | ' | ' | ' | ' | ' | ' | 284,461,000 | ' | ' | ' | ' |
Partially Owned Property Income Statement Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenue | ' | ' | ' | ' | ' | ' | ' | 6,629,000 | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | 3,554,000 | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | 3,075,000 | ' | ' | ' | ' |
Depreciation | ' | ' | ' | ' | ' | ' | ' | 1,887,000 | ' | ' | ' | ' |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | 53,000 | ' | ' | ' | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | 1,135,000 | ' | ' | ' | ' |
Interest and Other Income | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Other Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense incurred, net | ' | ' | ' | ' | ' | ' | ' | -1,886,000 | ' | ' | ' | ' |
Amortization of Financing Costs | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | ' | ' | ' | ' | ' | ' | ' | -751,000 | ' | ' | ' | ' |
Income and other tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
(Loss) from investments in unconsolidated entities due to operations | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Net gain on sales of land parcels | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | -751,000 | ' | ' | ' | ' |
Unconsolidated Operating [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Property Balance Sheet Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Unconsolidated Properties | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' |
Partially Owned Unconsolidated Units | ' | ' | ' | ' | ' | ' | ' | 336 | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real Estate Investment Property, at Cost | ' | ' | ' | ' | ' | ' | ' | 55,545,000 | ' | ' | ' | ' |
Real Estate Investment Property, Accumulated Depreciation | ' | ' | ' | ' | ' | ' | ' | -4,605,000 | ' | ' | ' | ' |
Investment in real estate, net | ' | ' | ' | ' | ' | ' | ' | 50,940,000 | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | 1,377,000 | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | ' | ' | ' | ' | ' | ' | 47,000 | ' | ' | ' | ' |
Deferred financing costs, net | ' | ' | ' | ' | ' | ' | ' | 4,000 | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | 871,000 | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | ' | ' | 53,239,000 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 30,550,000 | ' | ' | ' | ' |
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | ' | ' | ' | ' | ' | ' | ' | 164,000 | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' | ' | ' | ' | 768,000 | ' | ' | ' | ' |
Security Deposit Liability | ' | ' | ' | ' | ' | ' | ' | 105,000 | ' | ' | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | ' | ' | 31,587,000 | ' | ' | ' | ' |
Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 20,450,000 | ' | ' | ' | ' |
Parent Equity Interest | ' | ' | ' | ' | ' | ' | ' | 1,202,000 | ' | ' | ' | ' |
Total Equity Interest | ' | ' | ' | ' | ' | ' | ' | 21,652,000 | ' | ' | ' | ' |
Total liabilities and equity | ' | ' | ' | ' | ' | ' | ' | 53,239,000 | ' | ' | ' | ' |
Partially Owned Property Income Statement Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenue | ' | ' | ' | ' | ' | ' | ' | 4,597,000 | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | 1,949,000 | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | 2,648,000 | ' | ' | ' | ' |
Depreciation | ' | ' | ' | ' | ' | ' | ' | 4,605,000 | ' | ' | ' | ' |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | 201,000 | ' | ' | ' | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | -2,158,000 | ' | ' | ' | ' |
Interest and Other Income | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' |
Other Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense incurred, net | ' | ' | ' | ' | ' | ' | ' | -941,000 | ' | ' | ' | ' |
Amortization of Financing Costs | ' | ' | ' | ' | ' | ' | ' | -1,000 | ' | ' | ' | ' |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | ' | ' | ' | ' | ' | ' | ' | -3,090,000 | ' | ' | ' | ' |
Income and other tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
(Loss) from investments in unconsolidated entities due to operations | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Net gain on sales of land parcels | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | -3,090,000 | ' | ' | ' | ' |
Unconsolidated Total [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Property Balance Sheet Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Unconsolidated Properties | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' |
Partially Owned Unconsolidated Units | ' | ' | ' | ' | ' | ' | ' | 1,669 | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real Estate Investment Property, at Cost | ' | ' | ' | ' | ' | ' | ' | 384,932,000 | ' | ' | ' | ' |
Real Estate Investment Property, Accumulated Depreciation | ' | ' | ' | ' | ' | ' | ' | -6,492,000 | ' | ' | ' | ' |
Investment in real estate, net | ' | ' | ' | ' | ' | ' | ' | 378,440,000 | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | 3,144,000 | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents | ' | ' | ' | ' | ' | ' | ' | 142,000 | ' | ' | ' | ' |
Deferred financing costs, net | ' | ' | ' | ' | ' | ' | ' | 210,000 | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | 1,226,000 | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | ' | ' | 383,162,000 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 214,208,000 | ' | ' | ' | ' |
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | ' | ' | ' | ' | ' | ' | ' | 8,441,000 | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' | ' | ' | ' | 716,000 | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' | ' | ' | ' | 1,679,000 | ' | ' | ' | ' |
Security Deposit Liability | ' | ' | ' | ' | ' | ' | ' | 327,000 | ' | ' | ' | ' |
Total liabilities | ' | ' | ' | ' | ' | ' | ' | 225,371,000 | ' | ' | ' | ' |
Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 122,210,000 | ' | ' | ' | ' |
Parent Equity Interest | ' | ' | ' | ' | ' | ' | ' | 35,581,000 | ' | ' | ' | ' |
Total Equity Interest | ' | ' | ' | ' | ' | ' | ' | 157,791,000 | ' | ' | ' | ' |
Total liabilities and equity | ' | ' | ' | ' | ' | ' | ' | 383,162,000 | ' | ' | ' | ' |
Partially Owned Property Income Statement Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenue | ' | ' | ' | ' | ' | ' | ' | 11,226,000 | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | 5,638,000 | ' | ' | ' | ' |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | 5,588,000 | ' | ' | ' | ' |
Depreciation | ' | ' | ' | ' | ' | ' | ' | 6,492,000 | ' | ' | ' | ' |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | 254,000 | ' | ' | ' | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | -1,158,000 | ' | ' | ' | ' |
Interest and Other Income | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' |
Other Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense incurred, net | ' | ' | ' | ' | ' | ' | ' | -2,827,000 | ' | ' | ' | ' |
Amortization of Financing Costs | ' | ' | ' | ' | ' | ' | ' | -1,000 | ' | ' | ' | ' |
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities and land parcels and discontinued operations | ' | ' | ' | ' | ' | ' | ' | -3,976,000 | ' | ' | ' | ' |
Income and other tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
(Loss) from investments in unconsolidated entities due to operations | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Net gain on sales of land parcels | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | -3,976,000 | ' | ' | ' | ' |
Residual JV [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial Basis of Real Estate, Unconsolidated | ' | ' | ' | ' | ' | ' | ' | -113,600,000 | ' | ' | ' | ' |
Joint Venture Partner [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Land purchase price | ' | ' | ' | ' | ' | ' | ' | 57,900,000 | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | ' | ' | ' | ' | ' | ' | ' | 75,700,000 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | 111,700,000 | ' | ' | ' | ' |
Company's Portion [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Land purchase price | ' | ' | ' | ' | ' | ' | ' | 76,100,000 | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | ' | ' | ' | ' | ' | ' | ' | 102,500,000 | ' | ' | ' | ' |
Nexus Sawgrass [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Project Cost | ' | ' | ' | ' | ' | ' | ' | 80,000,000 | ' | ' | ' | ' |
Maximum Debt Commitment | ' | ' | ' | ' | ' | ' | ' | 48,700,000 | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | 5.60% | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | 1-Jan-21 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 47,600,000 | ' | ' | ' | ' |
Domain [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Project Cost | ' | ' | ' | ' | ' | ' | ' | 154,600,000 | ' | ' | ' | ' |
Maximum Debt Commitment | ' | ' | ' | ' | ' | ' | ' | 98,600,000 | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | 5.75% | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | 1-Jan-22 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 91,600,000 | ' | ' | ' | ' |
Archstone Transaction [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liquidation Value Preferred Interests | ' | ' | ' | ' | ' | ' | ' | 89,000,000 | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' |
Joint Venture Partner Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' |
Company's Portion [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Interests | ' | ' | ' | ' | ' | ' | ' | 39,000,000 | ' | ' | ' | ' |
Enclave at Wellington [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | 95.00% | ' | ' | ' | ' |
Initial Basis of Real Estate, Consolidated | ' | ' | ' | ' | ' | ' | ' | 26,200,000 | ' | ' | ' | ' |
Partially Owned Consolidated Units To Be Developed | ' | ' | ' | ' | ' | ' | ' | 268 | ' | ' | ' | ' |
Project Cost | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' |
East Palmetto Park [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' | ' | ' |
Initial Basis of Real Estate, Consolidated | ' | ' | ' | ' | ' | ' | ' | 20,200,000 | ' | ' | ' | ' |
Partially Owned Consolidated Units To Be Developed | ' | ' | ' | ' | ' | ' | ' | 377 | ' | ' | ' | ' |
Wisconsin Place [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' |
Initial Basis of Real Estate, Consolidated | ' | ' | ' | ' | ' | ' | ' | 198,500,000 | ' | ' | ' | ' |
Partially Owned Property Balance Sheet Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Consolidated Units | ' | ' | ' | ' | ' | ' | ' | 432 | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | ' | ' | ' | ' | ' | ' | 56,500,000 | ' | ' | ' | ' |
San Norterra [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Project Cost | ' | ' | ' | ' | ' | ' | ' | 56,300,000 | ' | ' | ' | ' |
Partially Owned Unconsolidated Units To Be Developed | ' | ' | ' | ' | ' | ' | ' | 388 | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' |
Initial Basis of Real Estate, Unconsolidated | ' | ' | ' | ' | ' | ' | ' | 16,900,000 | ' | ' | ' | ' |
Maximum Debt Commitment | ' | ' | ' | ' | ' | ' | ' | 34,800,000 | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | 6-Jan-15 | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | ' | ' | ' | ' | ' | ' | ' | 'LIBOR plus 2.00% | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 33,000,000 | ' | ' | ' | ' |
Waterton Tenside [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' |
Initial Basis of Real Estate, Unconsolidated | ' | ' | ' | ' | ' | ' | ' | 5,100,000 | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | 3.66% | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | 1-Dec-18 | ' | ' | ' | ' |
Partially Owned Property Balance Sheet Schedule | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partially Owned Unconsolidated Units | ' | ' | ' | ' | ' | ' | ' | 336 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 30,600,000 | ' | ' | ' | ' |
Parkside at Emeryville [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Project Cost | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ' |
Partially Owned Unconsolidated Units To Be Developed | ' | ' | ' | ' | ' | ' | ' | 176 | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' |
Initial Basis of Real Estate, Unconsolidated | ' | ' | ' | ' | ' | ' | ' | -2,100,000 | ' | ' | ' | ' |
Maximum Debt Commitment | ' | ' | ' | ' | ' | ' | ' | 39,500,000 | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | 14-Aug-15 | ' | ' | ' | ' |
Unconsolidated Project Under Development Commitment Fund | ' | ' | ' | ' | ' | ' | ' | 19,700,000 | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | ' | ' | ' | ' | ' | ' | ' | 'LIBOR plus 2.25% | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | 11,400,000 | ' | ' | ' | ' |
Joint Venture Partner [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposed Properties | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' |
Disposed Units | ' | ' | ' | ' | ' | ' | ' | ' | 441 | ' | ' | ' |
Interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | $21,300,000 | ' | ' | ' |
London Interbank Offered Rate (LIBOR) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | ' | ' | ' | ' | ' | ' | ' | 'LIBOR plus 1.75% | 'LIBOR plus 0.50% | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | ' | ' | ' |
London Interbank Offered Rate (LIBOR) [Member] | San Norterra [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' |
London Interbank Offered Rate (LIBOR) [Member] | Parkside at Emeryville [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments In Partially Owned Entities (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | 2.25% | ' | ' | ' | ' |
Deposits_Restricted_Details
Deposits - Restricted (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Tax Deferred Exchange Proceeds | $0 | $152,182 |
Earnest Money On Acquisitions | 4,514 | 5,613 |
Restricted deposits on real estate investments | 53,771 | 44,209 |
Resident security and utility deposits | 44,777 | 44,199 |
Other Restricted Cash | 505 | 4,239 |
Restricted Cash and Cash Equivalents | $103,567 | $250,442 |
Debt_Mortgage_Notes_Payable_De
Debt Mortgage Notes Payable (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 23, 2006 | |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Mortgage notes payable | $5,174,166,000 | $3,898,369,000 | ' | ' |
Repayments Of Mortgage Notes Payable | 12,658,000 | 14,088,000 | 16,726,000 | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | 3.85% |
Assumed mortgage debt | 34,100,000 | 137,600,000 | ' | ' |
Debt Instrument, Maturity Date | 1-Sep-14 | ' | ' | ' |
Properties Collateralized | 1 | ' | ' | ' |
Mark-to-Market Debt Premiums | 127,900,000 | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | 902,886,000 | 26,495,000 | 190,905,000 | ' |
Prepayment Penalty Charges | 222,400,000 | 300,000 | ' | ' |
Write-off of unamortized deferred financing costs | 7,400,000 | 1,600,000 | ' | ' |
Write off unamortized (premium) discount | -110,500,000 | ' | ' | ' |
Various period of outstanding mortgage indebtedness | ' | 'June 15, 2051 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 0.03% | 0.11% | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 7.25% | 11.25% | ' | ' |
Weighted Average Mortgage Debt Interest Rate | 4.23% | 4.96% | ' | ' |
Historical cost, net of accumulated depreciation, of encumbered properties | 7,300,000,000 | 4,400,000,000 | ' | ' |
Properties acquired | ' | 1 | ' | ' |
New York Life Loan [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.21% | ' | ' | ' |
Debt Instrument, Maturity Date | 10-Nov-23 | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | 800,000,000 | ' | ' | ' |
Properties Acquired with Debt [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Properties acquired | ' | 2 | ' | ' |
London Interbank Offered Rate (LIBOR) [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | 'LIBOR plus 1.75% | 'LIBOR plus 0.50% | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ' | ' | ' |
Credit enhanced debt [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Mortgage notes payable | 700,500,000 | 362,200,000 | ' | ' |
Secured Debt [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Repayments Of Mortgage Notes Payable | 2,500,000,000 | 364,300,000 | ' | ' |
Other Debt Obligations [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Assumed mortgage debt | 339,000,000 | ' | ' | ' |
Debt Instrument, Maturity Date | 1-May-61 | ' | ' | ' |
Properties Collateralized | 3 | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 0.10% | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 5.24% | ' | ' | ' |
Fannie Mae Pool 3 And 4 [Domain] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Assumed mortgage debt | 2,200,000,000 | ' | ' | ' |
Write off unamortized (premium) discount | 113,600,000 | ' | ' | ' |
Fannie Mae Pool 3 [Domain] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 6.26% | ' | ' | ' |
Assumed mortgage debt | 1,200,000,000 | ' | ' | ' |
Debt Instrument, Maturity Date | 1-Nov-17 | ' | ' | ' |
Properties Collateralized | 16 | ' | ' | ' |
Fannie Mae Pool 3 [Domain] | Secured Debt [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Repayments Of Mortgage Notes Payable | 825,000,000 | ' | ' | ' |
Fannie Mae Pool 4 [Domain] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 5.88% | ' | ' | ' |
Assumed mortgage debt | 963,500,000 | ' | ' | ' |
Debt Instrument, Maturity Date | 1-Nov-14 | ' | ' | ' |
Properties Collateralized | 15 | ' | ' | ' |
Fannie Mae Pool 4 [Domain] | Secured Debt [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Repayments Of Mortgage Notes Payable | 963,500,000 | ' | ' | ' |
Nontaxable Municipal Bonds [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Assumed mortgage debt | $346,600,000 | ' | ' | ' |
Debt Instrument, Maturity Date | 15-Nov-36 | ' | ' | ' |
Properties Collateralized | 4 | ' | ' | ' |
Nontaxable Municipal Bonds [Member] | Minimum [Member] | SIFMA [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | 'SIFMA plus 0.860% | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | 0.86% | ' | ' | ' |
Nontaxable Municipal Bonds [Member] | Maximum [Member] | SIFMA [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | 'SIFMA plus 1.402% | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | 1.40% | ' | ' | ' |
Debt_Notes_Details
Debt Notes (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 23, 2006 | |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Interest Rate Derivatives, at Fair Value, Net | ' | $300,000,000 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | 3.85% |
Debt Instrument, Maturity Date | 1-Sep-14 | ' | ' | ' |
Repayments of Notes Payable | 400,000,000 | 975,991,000 | 575,641,000 | ' |
Term Loan Facility Spread | 1.20% | ' | ' | ' |
Summary of Company's unsecured note balances and certain interest rate and maturity date information | ' | ' | ' | ' |
Notes, net | 5,477,088,000 | 4,630,875,000 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 0.03% | 0.11% | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 7.25% | 11.25% | ' | ' |
Fixed Rate Public or Private Notes [Member] | ' | ' | ' | ' |
Summary of Company's unsecured note balances and certain interest rate and maturity date information | ' | ' | ' | ' |
Notes, net | 4,727,088,000 | 4,329,352,000 | ' | ' |
Weighted Average Interest Rate | 5.55% | 5.70% | ' | ' |
Floating Rate Public or Private Notes [Member] | ' | ' | ' | ' |
Summary of Company's unsecured note balances and certain interest rate and maturity date information | ' | ' | ' | ' |
Notes, net | 750,000,000 | 301,523,000 | ' | ' |
Weighted Average Interest Rate | 1.58% | 1.83% | ' | ' |
Five Point Two Zero Percentage Fixed Rate Tax Exempt Notes [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | 400,000,000 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 5.20% | ' | ' |
Debt Instrument, Maturity Date | ' | 1-Apr-13 | ' | ' |
5.200% Notes [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 5.20% | ' | ' | ' |
Repayments of Notes Payable | 400,000,000 | ' | ' | ' |
DelayedDrawTermLoan [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Term Loan Principal Amount | $750,000,000 | ' | ' | ' |
Floating Rate Public or Private Notes [Member] | ' | ' | ' | ' |
Summary of Company's unsecured note balances and certain interest rate and maturity date information | ' | ' | ' | ' |
Debt Instrument, Maturity Date Range, Start | 1-Jan-15 | 1-Jan-13 | ' | ' |
Debt Instrument, Maturity Date Range, End | 31-Dec-15 | 31-Dec-13 | ' | ' |
Fixed Rate Public or Private Notes [Member] | ' | ' | ' | ' |
Summary of Company's unsecured note balances and certain interest rate and maturity date information | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 3.00% | 4.63% | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 7.57% | 7.57% | ' | ' |
Debt Instrument, Maturity Date Range, Start | 1-Jan-14 | 1-Jan-13 | ' | ' |
Debt Instrument, Maturity Date Range, End | 31-Dec-26 | 31-Dec-26 | ' | ' |
Debt_Notes_Details_Textuals
Debt Notes (Details) [Textuals] (USD $) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 18, 2011 | Aug. 23, 2006 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 17, 2006 | Aug. 18, 2011 | Aug. 23, 2006 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
3.00% Notes [Member] | 5.200% Notes [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Term Loan [Member] | Term Loan [Member] | Bridge Loan [Member] | DelayedDrawTermLoan [Member] | 6.625% Notes [Member] | 5.500% Notes [Member] | Bridge Loan [Member] | Nontaxable Municipal Bonds [Member] | SIFMA [Member] | SIFMA [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member] | ||||||
Nontaxable Municipal Bonds [Member] | Nontaxable Municipal Bonds [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||||||||||||||
Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'SIFMA plus 0.860% | 'SIFMA plus 1.402% | 'LIBOR plus 1.75% | 'LIBOR plus 0.50% | 'LIBOR plus 1.20% |
Repayments of Notes Payable | $400,000,000 | $975,991,000 | $575,641,000 | ' | ' | ' | $400,000,000 | ' | ' | ' | ' | ' | ' | ' | $253,900,000 | $222,100,000 | ' | ' | ' | ' | ' | ' | ' |
Stated interest rate | ' | ' | ' | ' | 3.85% | 3.00% | 5.20% | ' | ' | 3.85% | ' | ' | ' | ' | 6.63% | 5.50% | ' | ' | ' | ' | ' | ' | ' |
Unsecured Notes, face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity period of interest rate notes | 1-Sep-14 | ' | ' | ' | ' | ' | ' | 15-Aug-26 | ' | ' | ' | 5-Oct-12 | ' | ' | ' | ' | ' | 15-Nov-36 | ' | ' | ' | ' | ' |
Convertible Debt | ' | ' | ' | 482,500,000 | 650,000,000 | ' | ' | ' | 482,500,000 | 650,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds | 1,245,550,000 | 0 | 996,190,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bridge Loan Principal Amount | ' | 2,500,000,000 | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Fee Amount | ' | 10,900,000 | 2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,400,000 | ' | ' | ' | ' | ' | ' |
Convertible senior subordinated notes conversion ratio | ' | ' | ' | ' | ' | ' | ' | 16.3934 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible senior subordinated notes, base conversion price | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument convertible conversion price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | $61 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term Loan Facility Spread | 1.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write-off of unamortized deferred financing costs | 7,400,000 | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Unsecured Debt | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Debt, Net of Issuance Costs | 495,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term Loan Principal Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Lines_of_Credit_Details
Debt Lines of Credit (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
A 175 billion LOC [Member] | A 175 billion LOC [Member] | A 250 billion LOC [Member] [Domain] | $1.25 billion LOC [Member] | $1.25 billion LOC [Member] | $1.425 Billion LOC [Member] | $1.425 Billion LOC [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | Line of Credit [Member] | Line of Credit [Member] | |||
London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured revolving credit facility | ' | ' | ' | $1,750,000,000 | $2,500,000,000 | $1,750,000,000 | $1,250,000,000 | ' | $1,425,000,000 | ' | ' | ' | ' | ' |
Debt Instrument, Maturity Date | 1-Sep-14 | ' | ' | ' | 1-Apr-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
500.0 million ability to increase | 500,000,000 | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR plus 1.75% | 'LIBOR plus 0.50% | 'LIBOR plus 1.05% | 'LIBOR plus 1.15% |
Line Of Credit Facility Commitment Fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 Basis Points | ' |
Advances under credit facility, rate plus spread | ' | ' | ' | ' | ' | 1.15% | ' | ' | ' | 1.05% | ' | ' | ' | ' |
Line of Credit Maturity | ' | ' | ' | ' | ' | ' | 13-Jul-14 | ' | 1-Feb-12 | ' | ' | ' | ' | ' |
Increase to Line of Credit | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Commitment Fee Percentage | ' | ' | ' | ' | ' | 0.20% | ' | ' | ' | ' | ' | ' | ' | ' |
Write Off Of Unamortized Deferred Financing Costs | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' |
Remaining borrowing capacity | ' | ' | 1,720,000,000 | ' | 2,350,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount restricted/dedicated to support letters of credit | ' | ' | 30,200,000 | ' | 34,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Line of Credit | $115,000,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average interest rate on revolving letter of credit | ' | ' | 1.35% | ' | 1.26% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Other_Details
Debt Other (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Instrument [Line Items] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $561,084 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 1,170,448 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 1,193,251 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 1,347,191 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 297,016 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 6,209,697 |
Debt Instrument, Unamortized Discount | -12,433 |
Total Secured and Unsecured Debt | $10,766,254 |
Derivative_and_Other_Fair_Valu2
Derivative and Other Fair Value Instruments (Details) (Forward Starting Swaps [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Forward Starting Swaps [Member] | ' |
Derivative [Line Items] | ' |
Current Notional Balance | $400,000 |
Lowest Possible Notional | 400,000 |
Highest Possible Notional | $400,000 |
Lowest Interest Rate | 2.13% |
Highest Interest Rate | 3.23% |
Earliest Maturity Date | '2024 |
Latest Maturity Date | '2024 |
Derivative_and_Other_Fair_Valu3
Derivative and Other Fair Value Instruments (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative asset, fair value | $18,712 | $1,523 |
Fair Value Of Serp Investments | 83,845 | 70,655 |
Other Assets, Fair Value Disclosure | ' | 2,214 |
Assets, Fair Value Disclosure | 102,557 | 74,392 |
Derivative liability, fair value | ' | 44,050 |
Other Liabilities, Fair Value Disclosure | 83,845 | 70,655 |
Liabilities, Fair Value Disclosure | 83,845 | 114,705 |
Redeemable Noncontrolling Interest Operating Partnership Liability Fair Value Disclosure | 363,144 | 398,372 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative asset, fair value | 0 | 0 |
Fair Value Of Serp Investments | 83,845 | 70,655 |
Other Assets, Fair Value Disclosure | ' | 2,214 |
Assets, Fair Value Disclosure | 83,845 | 72,869 |
Derivative liability, fair value | ' | 0 |
Other Liabilities, Fair Value Disclosure | 83,845 | 70,655 |
Liabilities, Fair Value Disclosure | 83,845 | 70,655 |
Redeemable Noncontrolling Interest Operating Partnership Liability Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative asset, fair value | 18,712 | 1,523 |
Fair Value Of Serp Investments | 0 | 0 |
Other Assets, Fair Value Disclosure | ' | 0 |
Assets, Fair Value Disclosure | 18,712 | 1,523 |
Derivative liability, fair value | ' | 44,050 |
Other Liabilities, Fair Value Disclosure | 0 | 0 |
Liabilities, Fair Value Disclosure | 0 | 44,050 |
Redeemable Noncontrolling Interest Operating Partnership Liability Fair Value Disclosure | 363,144 | 398,372 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative asset, fair value | 0 | 0 |
Fair Value Of Serp Investments | 0 | 0 |
Other Assets, Fair Value Disclosure | ' | 0 |
Assets, Fair Value Disclosure | 0 | 0 |
Derivative liability, fair value | ' | 0 |
Other Liabilities, Fair Value Disclosure | 0 | 0 |
Liabilities, Fair Value Disclosure | 0 | 0 |
Redeemable Noncontrolling Interest Operating Partnership Liability Fair Value Disclosure | $0 | $0 |
Derivative_and_Other_Fair_Valu4
Derivative and Other Fair Value Instruments (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments | ($1,523) | ($7,448) | ($3,549) |
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge | 1,523 | 7,448 | 3,549 |
Effective Portion - Amount of Gain/ (Loss) Recognized in OCI on Derivative | 18,771 | -11,772 | -143,768 |
Effective Portion - Amount of Gain/ (Loss) Reclassified from Accumulated OCI into Income | -20,141 | -14,678 | -4,343 |
Ineffective Portion - Amount of Gain/ (Loss) Reclassifed from Accumulated OCI into Income | 0 | 0 | -170 |
Interest Rate Swap [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments | -1,523 | -7,448 | -3,549 |
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge | 1,523 | 7,448 | 3,549 |
Derivative, Description of Hedged Item | 'Fixed rate debt | 'Fixed rate debt | 'Fixed rate debt |
Forward Starting Swaps/Treasury Locks [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Effective Portion - Amount of Gain/ (Loss) Recognized in OCI on Derivative | 18,771 | -11,772 | -145,090 |
Effective Portion - Amount of Gain/ (Loss) Reclassified from Accumulated OCI into Income | -20,141 | -14,678 | -4,343 |
Ineffective Portion - Amount of Gain/ (Loss) Reclassifed from Accumulated OCI into Income | 0 | 0 | -170 |
Development Interest Rate Swaps/Caps [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Effective Portion - Amount of Gain/ (Loss) Recognized in OCI on Derivative | ' | ' | 1,322 |
Effective Portion - Amount of Gain/ (Loss) Reclassified from Accumulated OCI into Income | ' | ' | 0 |
Ineffective Portion - Amount of Gain/ (Loss) Reclassifed from Accumulated OCI into Income | ' | ' | $0 |
Derivative_and_Other_Fair_Valu5
Derivative and Other Fair Value Instruments (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Available for Sale | ' | ' | ' |
Other assets, amortized cost | $0 | $675 | ' |
Other assets, Unrealized Gains | 0 | 1,539 | ' |
Other assets, Unrealized Losses | 0 | 0 | ' |
Other assets, Book/Fair value | 0 | 2,214 | ' |
Interest and Other income | 2,122 | 0 | ' |
Proceeds from Sale of Available-for-sale Securities | 4,878 | 0 | 4,537 |
Gain on Sale of Securities, Net | -2,122 | 0 | 0 |
Available-for-sale Securities [Member] | ' | ' | ' |
Available for Sale | ' | ' | ' |
Other assets, amortized cost | 0 | 675 | ' |
Other assets, Unrealized Gains | 0 | 1,539 | ' |
Other assets, Unrealized Losses | 0 | 0 | ' |
Other assets, Book/Fair value | 0 | 2,214 | ' |
Interest and Other income | 2,122 | 0 | ' |
Available-for-sale Securities [Member] | ' | ' | ' |
Available for Sale | ' | ' | ' |
Gain on Sale of Securities, Net | 2,100 | ' | ' |
Available-for-sale Securities [Member] | ' | ' | ' |
Available for Sale | ' | ' | ' |
Proceeds from Sale of Available-for-sale Securities | $2,800 | ' | ' |
Derivative_and_Other_Fair_Valu6
Derivative and Other Fair Value Instruments (Details Textuals) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Four Point Six Two Five Fixed Rate Public Notes [Member] | Total Note Payable and Long-Term Line of Credit [Member] | |||
Derivative [Line Items] | ' | ' | ' | ' |
Mortgage notes payable | $5,174,166,000 | $3,898,369,000 | ' | ' |
Notes, net | 5,477,088,000 | 4,630,875,000 | ' | 5,592,088,000 |
Fair value of mortgage notes payable | 5,100,000,000 | 4,300,000,000 | ' | ' |
Fair value of unsecured notes payable including line of credit | 5,900,000,000 | 5,200,000,000 | ' | ' |
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | -155,800,000 | -194,700,000 | ' | ' |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 21,800,000 | ' | ' | ' |
Payments for (Proceeds from) Hedge, Investing Activities | 44,700,000 | ' | 153,200,000 | ' |
Debt Instrument, Face Amount | ' | ' | 1,000,000,000 | ' |
Proceeds from Issuance of Unsecured Debt | 500,000,000 | ' | ' | ' |
Interest Expense | 700,000 | ' | 5,900,000 | ' |
Charges Hedge Termination Activities | 44,000,000 | ' | 147,100,000 | ' |
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net | ' | ' | $200,000 | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
(Loss) income from continuing operations | ' | ($13,465) | ($58,511) | ($165,339) | $100,763 | $91,269 | ($6,340) | ($25,394) | ($168,174) | $160,298 | ($72,941) |
Income (Loss) Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 6,834 | -6,417 | 3,880 |
Net loss (income) attributable to Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | ' | 538 | -844 | -832 |
Dividends, Preferred Stock | ' | ' | ' | ' | ' | ' | ' | ' | -4,145 | -10,355 | -13,865 |
Redemption Premium | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -5,152 | 0 |
Income From Continuing Operations Available To Common Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 143,947 | ' |
Income (Loss) from Continuing Operations Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | -164,947 | 137,530 | -83,758 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ' | ' | ' | ' | ' | ' | ' | ' | 1,991,415 | 688,682 | 963,478 |
Net Income Loss Available To Common Stockholder Basic | ' | ' | ' | ' | ' | ' | ' | ' | 1,826,468 | 826,212 | 879,720 |
Discontinued operations, net | ' | 405,182 | 395,243 | 1,226,373 | 283,636 | 145,054 | 114,655 | 177,561 | 2,073,527 | 720,906 | 1,008,138 |
Net Income (Loss) Available to Common Stockholders, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 1,826,468 | 864,853 | 879,720 |
Weighted Average Number of Shares Outstanding, Basic | 359,919 | 359,811 | 359,653 | 337,532 | 310,398 | 301,336 | 300,193 | 298,805 | 354,305 | 302,701 | 294,856 |
Dilutive Op Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,853 | ' |
Dilutive Securities Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,212 | ' |
Weighted average Common Shares outstanding | 375,860 | 359,811 | 359,653 | 337,532 | 327,108 | 318,773 | 300,193 | 298,805 | 354,305 | 319,766 | 294,856 |
Earnings Per Share, Basic | $0.31 | $1.05 | $0.90 | $3.01 | $1.18 | $0.73 | $0.33 | $0.47 | $5.16 | $2.73 | $2.98 |
Earnings Per Share, Diluted | $0.30 | $1.05 | $0.90 | $3.01 | $1.17 | $0.72 | $0.33 | $0.47 | $5.16 | $2.71 | $2.98 |
(Loss) income from continuing operations available to Common Shares | ' | ' | ' | ' | ' | ' | ' | ' | ($0.47) | $0.45 | ($0.28) |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | ' | ' | ' | ' | ' | ' | ' | ' | $5.62 | $2.27 | $3.27 |
(Loss) income from Continuing Operations, Per Diluted Share | ' | ' | ' | ' | ' | ' | ' | ' | ($0.47) | $0.45 | ($0.28) |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | ' | ' | ' | ' | ' | ' | ' | ' | $5.62 | $2.25 | $3.27 |
Common Stock, Dividends, Per Share, Declared | ' | ' | ' | ' | ' | ' | ' | ' | $1.85 | $1.78 | $1.58 |
OPERATING PARTNERSHIP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | -168,174 | 160,298 | -72,941 |
Net loss (income) attributable to Noncontrolling Interests - Partially Owned Properties | ' | ' | ' | ' | ' | ' | ' | ' | 538 | -844 | -832 |
Redemption Premium | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -5,152 | 0 |
Discontinued operations, net | ' | ' | ' | ' | ' | ' | ' | ' | 2,073,527 | 720,906 | 1,008,138 |
Dilutive Securities Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,212 | ' |
Earnings Per Share, Basic | ' | ' | ' | ' | ' | ' | ' | ' | $5.16 | $2.73 | $2.98 |
Earnings Per Share, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | $5.16 | $2.71 | $2.98 |
(Loss) income from continuing operations available to Common Shares | ' | ' | ' | ' | ' | ' | ' | ' | ($0.47) | $0.45 | ($0.28) |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | ' | ' | ' | ' | ' | ' | ' | ' | $5.62 | $2.27 | $3.27 |
(Loss) income from Continuing Operations, Per Diluted Share | ' | ' | ' | ' | ' | ' | ' | ' | ($0.47) | $0.45 | ($0.28) |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | ' | ' | ' | ' | ' | ' | ' | ' | $5.62 | $2.25 | $3.27 |
Dividend preference units | ' | ' | ' | ' | ' | ' | ' | ' | -4,145 | -10,355 | -13,865 |
Income Loss From Continuing Operations Available To Units | ' | ' | ' | ' | ' | ' | ' | ' | -171,781 | 143,947 | -87,638 |
Net Income loss available to Op unitholders basic diluted numerator | ' | ' | ' | ' | ' | ' | ' | ' | $1,901,746 | $864,853 | $920,500 |
Weighted Average Limited Partnership and General Partnership Units Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 368,038 | 316,554 | 308,062 |
Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 368,038 | 319,766 | 308,062 |
Distributions Per Limited Partnership and General Partnership Unit, Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | $1.85 | $1.78 | $1.58 |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
REVENUES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposal Group Including Discontinued Operation Rental Revenue | ' | ' | ' | ' | ' | ' | ' | $121,942,000 | $445,832,000 | $560,399,000 |
Disposal Group, Including Discontinued Operation, Revenue | ' | ' | ' | ' | ' | ' | ' | 121,942,000 | 445,832,000 | 560,399,000 |
EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposal Group Including Discontinued Operation Property And Maintenance | ' | ' | ' | ' | ' | ' | ' | 36,792,000 | 103,371,000 | 160,315,000 |
Disposal Group Including Discontinued Operation Real Estate Taxes And Insurance | ' | ' | ' | ' | ' | ' | ' | 11,903,000 | 41,208,000 | 50,173,000 |
Disposal Group Including Discontinued Operations Property Management | ' | ' | ' | ' | ' | ' | ' | 1,000 | 211,000 | 266,000 |
Disposal Group Including Discontinued Operation Depreciation | ' | ' | ' | ' | ' | ' | ' | 34,380,000 | 124,323,000 | 157,441,000 |
Disposal Group Including Discontinued Operation General And Administrative | ' | ' | ' | ' | ' | ' | ' | 85,000 | 92,000 | 55,000 |
Disposal Group, Including Discontinued Operation, Operating Expense | ' | ' | ' | ' | ' | ' | ' | 83,161,000 | 269,205,000 | 368,250,000 |
Disposal Group, Including Discontinued Operation, Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | 38,781,000 | 176,627,000 | 192,149,000 |
Disposal Group Including Discontinued Operation Interest And Other Income | ' | ' | ' | ' | ' | ' | ' | 217,000 | 156,000 | 198,000 |
Disposal Group Including Discontinued Operation Other Expenses | ' | ' | ' | ' | ' | ' | ' | -3,000 | -170,000 | -421,000 |
Interest: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense incurred, net | ' | ' | ' | ' | ' | ' | ' | -1,296,000 | -3,811,000 | -9,268,000 |
Disposal Group Including Discontinued Operation Amortization Of Deferred Financing Costs | ' | ' | ' | ' | ' | ' | ' | -228,000 | -140,000 | -1,230,000 |
Discontinued Operation, Tax Effect of Discontinued Operation | ' | ' | ' | ' | ' | ' | ' | -449,000 | -34,000 | 221,000 |
Income Loss From Discontinued Operations | ' | ' | ' | ' | ' | ' | ' | 37,022,000 | 172,628,000 | 181,649,000 |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ' | ' | ' | ' | ' | ' | ' | 2,036,505,000 | 548,278,000 | 826,489,000 |
Discontinued operations, net | 405,182,000 | 395,243,000 | 1,226,373,000 | 283,636,000 | 145,054,000 | 114,655,000 | 177,561,000 | 2,073,527,000 | 720,906,000 | 1,008,138,000 |
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | ' | ' | ' | ' | ' | ' | ' | 2,000,000,000 | ' | ' |
Disposal Group Including Discontinued Operation Mortgage Notes Payable | ' | ' | ' | $34,400,000 | ' | ' | ' | ' | $34,400,000 | ' |
Share_Incentive_Plans_Details
Share Incentive Plans (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation information | ' | ' | ' |
Compensation Expense | $35,474 | $24,832 | $21,177 |
Compensation Capitalized | 2,545 | 2,128 | 2,305 |
Compensation Equity | 38,019 | 26,960 | 23,482 |
Dividends Incurred | 1,487 | 1,183 | 1,320 |
Restricted shares [Member] | ' | ' | ' |
Compensation information | ' | ' | ' |
Compensation Expense | 12,185 | 8,014 | 8,041 |
Compensation Capitalized | 1,079 | 922 | 1,061 |
Compensation Equity | 13,264 | 8,936 | 9,102 |
Dividends Incurred | 967 | 949 | 1,121 |
Long Term Incentive Plan Units [Member] | ' | ' | ' |
Compensation information | ' | ' | ' |
Compensation Expense | 13,108 | 5,004 | 3,344 |
Compensation Capitalized | 501 | 303 | 297 |
Compensation Equity | 13,609 | 5,307 | 3,641 |
Dividends Incurred | 520 | 234 | 199 |
Employee Stock Option [Member] | ' | ' | ' |
Compensation information | ' | ' | ' |
Compensation Expense | 9,569 | 10,970 | 8,711 |
Compensation Capitalized | 945 | 782 | 834 |
Compensation Equity | 10,514 | 11,752 | 9,545 |
Dividends Incurred | 0 | 0 | 0 |
Employee Share Purchase Plan Discount [Member] | ' | ' | ' |
Compensation information | ' | ' | ' |
Compensation Expense | 612 | 844 | 1,081 |
Compensation Capitalized | 20 | 121 | 113 |
Compensation Equity | 632 | 965 | 1,194 |
Dividends Incurred | $0 | $0 | $0 |
Share_Incentive_Plans_Details_
Share Incentive Plans (Details 1) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Common Shares Subject to Options, Beginning Balance | 8,115,255 | 8,594,020 | 10,106,488 |
Common Shares Subject to Options, Awards granted | 1,006,444 | 1,164,484 | 1,491,311 |
Stock Options Exercised | -586,017 | -1,608,425 | -2,945,950 |
Common Shares Subject to Options, Awards forfeited | -47,819 | -23,795 | -41,559 |
Common Shares Subject to Options, Awards expired | -17,331 | -11,029 | -16,270 |
Common Shares Subject to Options, Ending Balance | 8,470,532 | 8,115,255 | 8,594,020 |
Weighted Average Exercise Price per option, Beginning Balance | $41.31 | $36.81 | $33 |
Weighted Average Exercise Price per option, Awards granted | $55.07 | $60.22 | $53.70 |
Weighted Average Exercise Price per option, Awards exercised/vested | $29.34 | $30.87 | $32.27 |
Weighted Average Exercise Price per option, Awards forfeited | $56.16 | $51.55 | $35.14 |
Weighted Average Exercise Price per option, Awards expired | $47.51 | $35.53 | $44.13 |
Weighted Average Exercise Price per option, Ending Balance | $43.67 | $41.31 | $36.81 |
Restricted Shares, Beginning Balance | 524,953 | 697,510 | 911,950 |
Restricted Shares, Awards granted | 246,731 | 140,980 | 170,588 |
Restricted share grants vested | 253,816 | 300,809 | -258,068 |
Restricted Shares, Awards forfeited | -17,634 | -12,728 | -126,960 |
Restricted Shares, Awards Expired | 0 | 0 | 0 |
Restricted Shares, Ending Balance | 500,234 | 524,953 | 697,510 |
Weighted Average Fair Value per Restricted Share, Beginning Balance | $46.81 | $34.17 | $32.05 |
Weighted Average Fair Value per Restricted Share, Awards granted | $55.37 | $60.20 | $53.99 |
Weighted Average Fair Value per Restricted Share, Awards exercised/vested | $36.81 | $23.79 | $38.32 |
Weighted Average Fair Value per Restricted Share, Awards forfeited | $55.74 | $46.25 | $37.19 |
Weighted Average Fair Value per Restricted Share, Awards Expired | $0 | $0 | $0 |
Weighted Average Fair Value per Restricted Share, Ending Balance | $55.79 | $46.81 | $34.17 |
LTIP Unit, Beginning Balance | 285,034 | 367,620 | 247,508 |
LTIP Units, Awards Granted | 281,931 | 70,235 | 223,452 |
LTIP Unit, Awards exercised/vested | -93,335 | -152,821 | -101,988 |
LTIP Unit, Awards forfeited | -2,374 | 0 | -1,352 |
LTIP unit, Awards Expired | 0 | 0 | 0 |
LTIP Unit, Ending Balance | 471,256 | 285,034 | 367,620 |
Weighted Average Fair Value per LTIP Unit, Beginning Balance | $48.41 | $34.80 | $25.62 |
Weighted Average Fair Value per LTIP Unit, Awards granted | $52.73 | $57.24 | $46.64 |
Weighted Average Fair Value per LTIP Unit, Awards exercised/vested | $32.97 | $21.11 | $38.57 |
Weighted Average Fair Value per LTIP Unit, Awards forfeited | $56.72 | $0 | $27.79 |
Weighted Average Fair Value per LTIP Unit, Awards Expired | $0 | $0 | $0 |
Weighted Average Fair Value per LTIP Unit, Ending Balance | $55.67 | $48.41 | $34.80 |
Weighted average grant date fair value for Options | $7.90 | $8.54 | $8.36 |
Intrinsic value of options exercised | $16.70 | $46.70 | $74.80 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | 13.9 | 18 | 14 |
Stock Option [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Weighted average grant date fair value for Options | $7.97 | $8.55 | $8.18 |
Long Term Incentive Plan Units [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | $5.10 | $9.10 | $5.50 |
Share_Incentive_Plans_Details_1
Share Incentive Plans (Details 2) (USD $) | 12 Months Ended |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 |
Information regarding options outstanding and exercisable | ' |
Options Outstanding, Options | 8,470,532 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | '5 years 7 months 5 days |
Options Outstanding, Weighted Average Exercise Price | $43.67 |
Options Exercisable, Options | 6,046,489 |
Options Exercisable, Weighted Average Exercise Price | $38.76 |
Options, Vested and expected to vest | 8,293,422 |
Options, Weighted Average Remaining Contractual Life in Years | '5 years 6 months 20 days |
Options, Weighted Average Exercise Price | $43.42 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $85.60 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $85.50 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '4 years 6 months 15 days |
Exercise Price Range One [Member] | ' |
Information regarding options outstanding and exercisable | ' |
Options Outstanding, Options | 1,235,980 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | '5 years 0 months 30 days |
Options Outstanding, Weighted Average Exercise Price | $23.07 |
Options Exercisable, Options | 1,235,980 |
Options Exercisable, Weighted Average Exercise Price | $23.07 |
Exercise Price Range Two [Member] | ' |
Information regarding options outstanding and exercisable | ' |
Options Outstanding, Options | 386,723 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | '0 years 28 days |
Options Outstanding, Weighted Average Exercise Price | $29.25 |
Options Exercisable, Options | 386,723 |
Options Exercisable, Weighted Average Exercise Price | $29.25 |
Exercise Price Range Three [Member] | ' |
Information regarding options outstanding and exercisable | ' |
Options Outstanding, Options | 1,332,280 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | '4 years 6 months 28 days |
Options Outstanding, Weighted Average Exercise Price | $32.61 |
Options Exercisable, Options | 1,332,280 |
Options Exercisable, Weighted Average Exercise Price | $32.61 |
Exercise Price Range Four [Member] | ' |
Information regarding options outstanding and exercisable | ' |
Options Outstanding, Options | 1,347,487 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | '3 years 2 months 12 days |
Options Outstanding, Weighted Average Exercise Price | $40.46 |
Options Exercisable, Options | 1,347,487 |
Options Exercisable, Weighted Average Exercise Price | $40.46 |
Exercise Price Range Five [Member] | ' |
Information regarding options outstanding and exercisable | ' |
Options Outstanding, Options | 61,187 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | '6 years 6 months 18 days |
Options Outstanding, Weighted Average Exercise Price | $48.41 |
Options Exercisable, Options | 23,059 |
Options Exercisable, Weighted Average Exercise Price | $48.06 |
Exercise Price Range Six [Member] | ' |
Information regarding options outstanding and exercisable | ' |
Options Outstanding, Options | 2,774,770 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | '6 years 11 months 25 days |
Options Outstanding, Weighted Average Exercise Price | $53.91 |
Options Exercisable, Options | 1,226,038 |
Options Exercisable, Weighted Average Exercise Price | $53.64 |
Exercise Price Range Seven [Member] | ' |
Information regarding options outstanding and exercisable | ' |
Options Outstanding, Options | 1,332,105 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | '8 years 2 months 12 days |
Options Outstanding, Weighted Average Exercise Price | $59.76 |
Options Exercisable, Options | 494,922 |
Options Exercisable, Weighted Average Exercise Price | $59.98 |
Share_Incentive_Plans_Details_2
Share Incentive Plans (Details Textuals) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $18.70 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $62.32 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 8,470,532 | ' | ' |
Share Incentive Plans (Textuals) [Abstract] | ' | ' | ' |
Maximum aggregate number of awards under Share Incentive Plan | 12,980,741 | 12,980,741 | ' |
Shares available for future issuance | 9,562,775 | ' | ' |
Total compensation expense not yet vested | $16.50 | ' | ' |
Weighted average term for recognition of compensation expense not yet recognized (years) | '1 year 5 months 12 days | ' | ' |
Market value of shares | $51.87 | ' | ' |
Options Exercisable | ' | 5,385,907 | 5,415,550 |
Weighted Average Exercise Price of Options Exercisable | ' | $35.40 | $34.64 |
Exercise Price Range One [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $18.70 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $24.93 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 1,235,980 | ' | ' |
Exercise Price Range Two [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $24.94 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $31.16 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 386,723 | ' | ' |
Exercise Price Range Three [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $31.17 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $37.39 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 1,332,280 | ' | ' |
Exercise Price Range Four [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $37.40 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $43.62 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 1,347,487 | ' | ' |
Exercise Price Range Five [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $43.63 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $49.86 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 61,187 | ' | ' |
Exercise Price Range Six [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $49.87 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $56.09 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 2,774,770 | ' | ' |
Exercise Price Range Seven [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $56.10 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $62.32 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 1,332,105 | ' | ' |
Employee_Plans_Details
Employee Plans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Summary of information regarding the Common Shares issued under the ESPP | ' | ' | ' |
Shares issued | 73,468 | 110,054 | 113,107 |
Employee Share Purchase Plan Issuance Price Minimum | $44.26 | $46.33 | $44.04 |
Employee Share Purchase Plan Issuance Price Maximum | $48.17 | $51.78 | $51.19 |
Issuance proceeds | $3,401,000 | $5,399,000 | $5,262,000 |
Value of common shares that can be acquired by the employee and trustees under employees share purchase plan | 100,000 | ' | ' |
Number of common shares authorized after amendment | 7,000,000 | ' | ' |
Number of common shares authorized before amendment | 2,000,000 | ' | ' |
Common Shares available for purchase under the ESPP | 3,107,341 | ' | ' |
Purchase price of common stock | 85.00% | ' | ' |
Minimum eligible compensation percentage for the defined contribution plan (the "401(k) Plan") | 3.00% | ' | ' |
Defined contribution plan vesting period | 5 | ' | ' |
Defined contribution plan, compensation expense | $4,200,000 | $4,400,000 | $3,700,000 |
Distribution_Reinvestment_and_1
Distribution Reinvestment and Share Purchase Plan (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Common Shares registered with Distribution Reinvestment and Share Purchase Plan (the "DRIP Plan") | 4,850,000 |
Number of shares available for issuance | 4,814,608 |
Discount range at which common shares can be purchased on a monthly basis with optional cash | 0.00% |
ShareBasedCompensationArrangementByShareBasedPaymentMaximumDiscountFromMarketPrice | 5.00% |
Original DRIP Plan [Member] | ' |
Common Shares registered with Distribution Reinvestment and Share Purchase Plan (the "DRIP Plan") | 5,000,000 |
Transactions_With_Related_Part1
Transactions With Related Parties (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Related Party Transaction [Line Items] | ' | ' | ' |
Indirect Ownership Interest Percentage | 1.00% | ' | ' |
Amount Incurred For leased office space | $1.70 | $1.30 | $2.20 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
300 properties designed and built in violation of accessibility requirements | 300 | ' | ' |
Projects in various stages of development | 14 | ' | ' |
Units in various stages of development | 4,017 | ' | ' |
Consolidated Project Under Development Commitment Fund | $768,100,000 | ' | ' |
Various stages of development with estimated completion dates ranging through June 30, 2016 | 30-Jun-16 | ' | ' |
Number Of Unconsolidated Projects | 3 | ' | ' |
Number Of Apartments Units Under Development Unconsolidated Projects | 176 | ' | ' |
Estimated completion period of project | 31-Dec-14 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 108,000,000 | 1,047,545,000 | ' |
Investment in Joint Venture | 292,600,000 | ' | ' |
Noncontrolling Interests - Partially Owned Properties | 126,583,000 | 77,688,000 | ' |
Number Of Operating Properties Under Long Term Ground Leases | 13 | ' | ' |
Total operating lease payments | 13,200,000 | 8,100,000 | 7,100,000 |
Compensation expense, Recognized | 500,000 | 1,000,000 | 1,000,000 |
Number Of Operating Properties and Land Parcels Under Long Term Ground Leases | 14 | ' | ' |
Operating Leases: | ' | ' | ' |
Minimum Rent Payments Due, Year 1 | 14,518,000 | ' | ' |
Minimum Rent Payments Due, Year 2 | 14,935,000 | ' | ' |
Minimum Rent Payments Due, Year 3 | 15,084,000 | ' | ' |
Minimum Rent Payments Due, Year 4 | 14,961,000 | ' | ' |
Minimum Rent Payments Due, Year 5 | 14,830,000 | ' | ' |
Minimum Rent Payments Due, Thereafter | 869,687,000 | ' | ' |
Minimum Rent Payments Due, Total | 944,015,000 | ' | ' |
Other Long-Term Liabilities: | ' | ' | ' |
Deferred Compensation Due, Year 1 | 1,378,000 | ' | ' |
Deferred Compensation Due, Year 2 | 1,705,000 | ' | ' |
Deferred Compensation Due, Year 3 | 1,705,000 | ' | ' |
Deferred Compensation Due, Year 4 | 1,705,000 | ' | ' |
Deferred Compensation Due, Year 5 | 1,705,000 | ' | ' |
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter | 5,596,000 | ' | ' |
Deferred Compensation Due, Total | 13,794,000 | ' | ' |
Company's Portion [Member] | ' | ' | ' |
Land purchase price | 76,100,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 102,500,000 | ' | ' |
Joint Venture Partner [Member] | ' | ' | ' |
Land purchase price | 57,900,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 75,700,000 | ' | ' |
Noncontrolling Interests - Partially Owned Properties | 111,700,000 | ' | ' |
Unconsolidated Development Projects Held for and or Under Development [Domain] | ' | ' | ' |
Number Of Unconsolidated Projects | 1 | ' | ' |
Enclave at Wellington [Domain] | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | 95.00% | ' | ' |
Parkside at Emeryville [Domain] | ' | ' | ' |
Unconsolidated Project Under Development Commitment Fund | $19,700,000 | ' | ' |
Reportable_Segments_Details
Reportable Segments (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Rental income: | ' | ' | ' |
Same store | $1,769,280 | $1,693,239 | $1,771,449 |
Segment Reporting Segment Non Same Store Rental Income | 608,724 | 44,690 | -255,255 |
Segment Reporting Information Revenues | 2,378,004 | 1,737,929 | 1,516,194 |
Operating expenses: | ' | ' | ' |
Same store | 607,243 | 587,037 | 638,671 |
Non-same store/other | 220,559 | 33,778 | -74,018 |
Segment Reporting Segment Operating Expenses | 827,802 | 620,815 | 564,653 |
NOI: | ' | ' | ' |
Same store | 1,162,037 | 1,106,202 | 1,132,778 |
Non-same store/other | 388,165 | 10,912 | -181,237 |
Total NOI | 1,550,202 | 1,117,114 | 951,541 |
Assets | 22,834,545 | 17,201,000 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 135,816 | 152,828 | ' |
Reportable Segments (Textuals) [Abstract] | ' | ' | ' |
Units in same store properties | 80,247 | 98,577 | ' |
Rental income | 2,378,004 | 1,737,929 | 1,516,194 |
Property and maintenance expense | -449,461 | -332,190 | -304,380 |
Real estate taxes and insurance expense | -293,999 | -206,723 | -178,406 |
Property management expense | -84,342 | -81,902 | -81,867 |
Total operating expenses | -827,802 | -620,815 | -564,653 |
Same Store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 11,945,273 | 12,341,635 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 94,492 | 122,024 | ' |
Non-same store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 10,889,272 | 4,859,365 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 41,324 | 30,804 | ' |
Boston [Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Same store | 175,031 | 168,063 | 142,514 |
Segment Reporting Segment Non Same Store Rental Income | 61,139 | 0 | 8,115 |
Operating expenses: | ' | ' | ' |
Same store | 57,261 | 54,888 | 49,317 |
Non-same store/other | 18,238 | 0 | 2,361 |
NOI: | ' | ' | ' |
Same store | 117,770 | 113,175 | 93,197 |
Non-same store/other | 42,901 | 0 | 5,754 |
Boston [Domain] | Same Store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 1,087,370 | 1,133,098 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 15,630 | 22,592 | ' |
Boston [Domain] | Non-same store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 946,747 | 0 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 2,097 | 0 | ' |
Denver [Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Same store | 100,425 | 93,571 | 99,681 |
Segment Reporting Segment Non Same Store Rental Income | 2,805 | 1,325 | 0 |
Operating expenses: | ' | ' | ' |
Same store | 30,028 | 28,204 | 32,564 |
Non-same store/other | 744 | 429 | 1 |
NOI: | ' | ' | ' |
Same store | 70,397 | 65,367 | 67,117 |
Non-same store/other | 2,061 | 896 | -1 |
Denver [Domain] | Same Store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 520,999 | 542,243 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 5,330 | 4,593 | ' |
Denver [Domain] | Non-same store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 20,481 | 20,974 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 54 | 5 | ' |
New York Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Same store | 286,345 | 274,683 | 254,441 |
Segment Reporting Segment Non Same Store Rental Income | 136,182 | 14,611 | 6,794 |
Operating expenses: | ' | ' | ' |
Same store | 114,587 | 109,667 | 104,492 |
Non-same store/other | 43,055 | 5,988 | 366 |
NOI: | ' | ' | ' |
Same store | 171,758 | 165,016 | 149,949 |
Non-same store/other | 93,127 | 8,623 | 6,428 |
New York Domain] | Same Store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 2,678,546 | 2,742,346 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 8,982 | 12,437 | ' |
New York Domain] | Non-same store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 2,092,454 | 406,013 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 3,024 | 142 | ' |
San Francisco [Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Same store | 173,011 | 159,535 | 126,951 |
Segment Reporting Segment Non Same Store Rental Income | 119,749 | 7,268 | 3,889 |
Operating expenses: | ' | ' | ' |
Same store | 59,104 | 57,373 | 43,627 |
Non-same store/other | 42,851 | 3,022 | 1,796 |
NOI: | ' | ' | ' |
Same store | 113,907 | 102,162 | 83,324 |
Non-same store/other | 76,898 | 4,246 | 2,093 |
San Francisco [Domain] | Same Store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 968,840 | 999,267 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 11,767 | 18,010 | ' |
San Francisco [Domain] | Non-same store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 1,824,550 | 178,339 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 9,989 | 1,176 | ' |
Seattle [Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Same store | 129,283 | 122,267 | 122,494 |
Segment Reporting Segment Non Same Store Rental Income | 19,462 | 4,747 | 6,012 |
Operating expenses: | ' | ' | ' |
Same store | 43,718 | 41,041 | 45,275 |
Non-same store/other | 6,284 | 1,510 | 2,149 |
NOI: | ' | ' | ' |
Same store | 85,565 | 81,226 | 77,219 |
Non-same store/other | 13,178 | 3,237 | 3,863 |
Seattle [Domain] | Same Store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 835,584 | 865,068 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 6,398 | 6,892 | ' |
Seattle [Domain] | Non-same store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 312,240 | 90,205 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 1,598 | 67 | ' |
South Florida [Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Same store | 185,361 | 177,675 | 174,417 |
Segment Reporting Segment Non Same Store Rental Income | 2,653 | 0 | 14,488 |
Operating expenses: | ' | ' | ' |
Same store | 69,891 | 67,811 | 66,838 |
Non-same store/other | 1,031 | 0 | 5,165 |
NOI: | ' | ' | ' |
Same store | 115,470 | 109,864 | 107,579 |
Non-same store/other | 1,622 | 0 | 9,323 |
South Florida [Domain] | Same Store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 1,157,283 | 1,193,506 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 14,550 | 17,338 | ' |
South Florida [Domain] | Non-same store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 50,414 | 0 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 300 | 0 | ' |
Southern California [Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Same store | 333,917 | 320,749 | 299,508 |
Segment Reporting Segment Non Same Store Rental Income | 74,123 | 3,040 | 30,539 |
Operating expenses: | ' | ' | ' |
Same store | 107,346 | 103,925 | 98,907 |
Non-same store/other | 31,599 | 1,179 | 12,144 |
NOI: | ' | ' | ' |
Same store | 226,571 | 216,824 | 200,601 |
Non-same store/other | 42,524 | 1,861 | 18,395 |
Southern California [Domain] | Same Store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 2,177,336 | 2,250,301 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 16,580 | 17,747 | ' |
Southern California [Domain] | Non-same store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 1,078,038 | 70,389 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 3,975 | 141 | ' |
Washington DC [Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Same store | 253,056 | 247,880 | 240,755 |
Segment Reporting Segment Non Same Store Rental Income | 179,077 | 13,124 | 36,657 |
Operating expenses: | ' | ' | ' |
Same store | 76,033 | 75,580 | 75,492 |
Non-same store/other | 58,759 | 3,984 | 11,373 |
NOI: | ' | ' | ' |
Same store | 177,023 | 172,300 | 165,263 |
Non-same store/other | 120,318 | 9,140 | 25,284 |
Washington DC [Domain] | Same Store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 1,873,897 | 1,941,446 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 10,069 | 15,426 | ' |
Washington DC [Domain] | Non-same store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 2,664,702 | 276,901 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 14,877 | 1,062 | ' |
Non-Core [Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Same store | 132,851 | 128,816 | 310,688 |
Operating expenses: | ' | ' | ' |
Same store | 49,275 | 48,548 | 122,159 |
NOI: | ' | ' | ' |
Same store | 83,576 | 80,268 | 188,529 |
Non-Core [Domain] | Same Store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 645,418 | 674,360 | ' |
Payments to Acquire Other Property, Plant, and Equipment | 5,186 | 6,989 | ' |
Other [Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Segment Reporting Segment Non Same Store Rental Income | 13,534 | 575 | -3,477 |
Operating expenses: | ' | ' | ' |
Non-same store/other | 17,998 | 17,666 | 7,326 |
NOI: | ' | ' | ' |
Non-same store/other | -4,464 | -17,091 | -10,803 |
Payments to Acquire Other Property, Plant, and Equipment | 5,410 | 28,211 | ' |
Other [Domain] | Non-same store [Domain] | ' | ' | ' |
NOI: | ' | ' | ' |
Assets | 1,899,646 | 3,816,544 | ' |
Properties sold in 2013 [Domain] | ' | ' | ' |
Rental income: | ' | ' | ' |
Segment Reporting Segment Non Same Store Rental Income | 0 | 0 | -358,272 |
Operating expenses: | ' | ' | ' |
Non-same store/other | 0 | 0 | -116,699 |
NOI: | ' | ' | ' |
Non-same store/other | $0 | $0 | ($241,573) |
Subsequent_EventsOther_Details
Subsequent Events/Other (Details) (USD $) | 2 Months Ended | 3 Months Ended | 12 Months Ended | 36 Months Ended | 48 Months Ended | |||
Feb. 21, 2014 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | |
Subsequent Events/Other (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Properties Contracted To Be Acquired | 1 | ' | ' | ' | ' | ' | ' | ' |
Units Contracted To Be Acquired | 430 | ' | ' | ' | ' | ' | ' | ' |
Purchase Price For Commitments To Acquire | $143,000,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Acquisition Related Costs | ' | ' | ' | 300,000 | 7,000,000 | 7,700,000 | ' | 94,700,000 |
Noncash Project Abandonment Costs | ' | ' | ' | 5,184,000 | 9,056,000 | 5,075,000 | ' | ' |
Other Expenses | ' | ' | ' | 5,500,000 | 16,000,000 | 12,800,000 | ' | ' |
Litigation Settlement, Expense | ' | ' | ' | ' | 4,200,000 | ' | ' | ' |
BreakUpFee | ' | 80,000,000 | 70,000,000 | ' | 150,000,000 | ' | ' | ' |
Gain on Sale of Securities, Net | ' | ' | ' | -2,122,000 | 0 | 0 | ' | ' |
Proceeds From Royalty Termination | ' | ' | ' | ' | ' | 4,500,000 | ' | ' |
Insurance Litigation Settlement proceeds | ' | ' | ' | ' | ' | 800,000 | ' | ' |
Disposal Group Corporate Housing Business Sale | ' | ' | ' | ' | ' | 4,000,000 | ' | ' |
Seller Provided Financing | ' | ' | ' | ' | ' | 2,000,000 | ' | ' |
Proceeds Received From Seller Provided Finanacing | ' | ' | ' | 1,500,000 | 300,000 | 200,000 | ' | ' |
Discontinued Operation Corporate Housing Business Gain Loss On Disposal Of Discontinued Operation Net Of Tax | ' | ' | ' | ' | ' | ' | 2,900,000 | ' |
Available-for-sale Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Subsequent Events/Other (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on Sale of Securities, Net | ' | ' | ' | $2,100,000 | ' | ' | ' | ' |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Unaudited Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | $626,629 | $617,217 | $504,722 | $452,483 | $449,072 | $431,910 | $414,037 | ' | ' | ' |
Total revenues subsequently reclassified to discontinued operations | ' | -2,817 | -17,861 | -34,440 | -33,385 | -2,627 | -16,441 | -32,411 | ' | ' | ' |
Operating income | ' | 120,396 | 63,977 | 104,246 | 148,247 | 142,020 | 121,745 | 102,110 | 512,288 | 514,122 | 406,509 |
Operating income subsequently reclassified to discontinued operations | ' | -998 | -7,056 | -13,283 | -13,862 | -912 | -6,815 | -12,366 | ' | ' | ' |
(Loss) income from continuing operations | ' | -13,465 | -58,511 | -165,339 | 100,763 | 91,269 | -6,340 | -25,394 | -168,174 | 160,298 | -72,941 |
Income from continuing operations subsequently reclassified to discontinued operations | ' | -998 | -7,056 | -11,987 | -13,476 | -912 | -6,814 | -11,968 | ' | ' | ' |
Discontinued operations, net | ' | 405,182 | 395,243 | 1,226,373 | 283,636 | 145,054 | 114,655 | 177,561 | 2,073,527 | 720,906 | 1,008,138 |
Discontinued operations, net from properties sold subsequent to the respective reporting period | ' | 998 | 7,056 | 11,987 | 13,476 | 912 | 6,814 | 11,968 | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 1,905,353 | 881,204 | 935,197 |
Net income available to Common Shares | 109,940 | 376,155 | 323,723 | 1,016,650 | 365,979 | 218,603 | 99,797 | 141,833 | 1,826,468 | 826,212 | 879,720 |
Net Income per share - basis | $0.31 | $1.05 | $0.90 | $3.01 | $1.18 | $0.73 | $0.33 | $0.47 | $5.16 | $2.73 | $2.98 |
Weighted Average Number of Shares Outstanding, Basic | 359,919 | 359,811 | 359,653 | 337,532 | 310,398 | 301,336 | 300,193 | 298,805 | 354,305 | 302,701 | 294,856 |
Net income per share - diluted | $0.30 | $1.05 | $0.90 | $3.01 | $1.17 | $0.72 | $0.33 | $0.47 | $5.16 | $2.71 | $2.98 |
Weighted average Common Shares outstanding | 375,860 | 359,811 | 359,653 | 337,532 | 327,108 | 318,773 | 300,193 | 298,805 | 354,305 | 319,766 | 294,856 |
Operating Partnership [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unaudited Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | 639,134 | 626,629 | 617,217 | 504,722 | 452,483 | 449,072 | 431,910 | 414,037 | ' | ' | ' |
Total revenues subsequently reclassified to discontinued operations | ' | -2,817 | -17,861 | -34,440 | -33,385 | -2,627 | -16,441 | -32,411 | ' | ' | ' |
Operating income | 223,669 | 120,396 | 63,977 | 104,246 | 148,247 | 142,020 | 121,745 | 102,110 | ' | ' | ' |
Operating income subsequently reclassified to discontinued operations | ' | -998 | -7,056 | -13,283 | -13,862 | -912 | -6,815 | -12,366 | ' | ' | ' |
(Loss) income from continuing operations | 69,141 | -13,465 | -58,511 | -165,339 | 100,763 | 91,269 | -6,340 | -25,394 | ' | ' | ' |
Income from continuing operations subsequently reclassified to discontinued operations | ' | -998 | -7,056 | -11,987 | -13,476 | -912 | -6,814 | -11,968 | ' | ' | ' |
Discontinued operations, net | 46,729 | 405,182 | 395,243 | 1,226,373 | 283,636 | 145,054 | 114,655 | 177,561 | ' | ' | ' |
Discontinued operations, net from properties sold subsequent to the respective reporting period | ' | 998 | 7,056 | 11,987 | 13,476 | 912 | 6,814 | 11,968 | ' | ' | ' |
Net income | 115,870 | 391,717 | 336,732 | 1,061,034 | 384,399 | 236,323 | 108,315 | 152,167 | ' | ' | ' |
Net income available to Units | 114,271 | 390,991 | 336,511 | 1,059,973 | 382,974 | 229,099 | 104,529 | 148,251 | ' | ' | ' |
Net Income per share - basis | $0.31 | $1.05 | $0.90 | $3.01 | $1.18 | $0.73 | $0.33 | $0.47 | ' | ' | ' |
Net income per share - diluted | $0.30 | $1.05 | $0.90 | $3.01 | $1.17 | $0.72 | $0.33 | $0.47 | ' | ' | ' |
Weighted average Units outstanding | 373,643 | 373,547 | 373,403 | 351,255 | 324,364 | 315,513 | 314,255 | 312,011 | ' | ' | ' |
Weighted average Units outstanding | 375,860 | 373,547 | 373,403 | 351,255 | 327,108 | 318,773 | 314,255 | 312,011 | ' | ' | ' |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unaudited Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | 629,446 | 635,078 | 539,162 | 485,868 | 451,699 | 448,351 | 446,448 | ' | ' | ' |
Operating income | ' | 121,394 | 71,033 | 117,529 | 162,109 | 142,932 | 128,560 | 114,476 | ' | ' | ' |
(Loss) income from continuing operations | ' | -12,467 | -51,455 | -153,352 | 114,239 | 92,181 | 474 | -13,426 | ' | ' | ' |
Discontinued operations, net | ' | 404,184 | 388,187 | 1,214,386 | 270,160 | 144,142 | 107,841 | 165,593 | ' | ' | ' |
Scenario, Previously Reported [Member] | Operating Partnership [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unaudited Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | 629,446 | 635,078 | 539,162 | 485,868 | 451,699 | 448,351 | 446,448 | ' | ' | ' |
Operating income | ' | 121,394 | 71,033 | 117,529 | 162,109 | 142,932 | 128,560 | 114,476 | ' | ' | ' |
(Loss) income from continuing operations | ' | -12,467 | -51,455 | -153,352 | 114,239 | 92,181 | 474 | -13,426 | ' | ' | ' |
Discontinued operations, net | ' | $404,184 | $388,187 | $1,214,386 | $270,160 | $144,142 | $107,841 | $165,593 | ' | ' | ' |
Real_Estate_and_Accumulated_De1
Real Estate and Accumulated Depreciation - Overall Summary and Encumbrances Reconciliation (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Real Estate and Accumulated Depreciation [Line Items] | ' | ' | ' |
Number Of Unconsolidated Projects | 3 | ' | ' |
Land And Depreciable Property Net | $15,200,000,000 | $11,200,000,000 | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Accumulated Depreciation | -4,807,709,000 | -4,912,221,000 | -4,539,583,000 |
Real Estate and Accumulated Depreciation Encumbrances Reconciliation [Abstract] | ' | ' | ' |
Number of Properties Encumbered | 38 | ' | ' |
Changes in total real estate | ' | ' | ' |
Balance, beginning of year | 21,008,429,000 | 20,407,946,000 | 19,702,371,000 |
Acquisitions and development | 9,273,492,000 | 1,250,633,000 | 1,721,895,000 |
Improvements | 139,950,000 | 161,460,000 | 151,476,000 |
Dispositions and other | -3,620,923,000 | -811,610,000 | -1,167,796,000 |
Balance, end of year | 26,800,948,000 | 21,008,429,000 | 20,407,946,000 |
Changes in accumulated depreciation | ' | ' | ' |
Balance, beginning of year | -4,912,221,000 | -4,539,583,000 | -4,337,357,000 |
Depreciation | 1,013,353,000 | 684,992,000 | 663,616,000 |
Dispositions and other | -1,117,865,000 | -312,354,000 | -461,390,000 |
Balance, end of year | -4,807,709,000 | -4,912,221,000 | -4,539,583,000 |
Partially Owned Unconsolidated Units | 1,669 | ' | ' |
EQR-Fanwell 2007 LP [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Encumbrances | 300,000,000 | ' | ' |
Real Estate and Accumulated Depreciation Encumbrances Reconciliation [Abstract] | ' | ' | ' |
Number of Properties Encumbered | 6 | ' | ' |
EQR-Wellfan 2008 LP [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Encumbrances | 550,000,000 | ' | ' |
Real Estate and Accumulated Depreciation Encumbrances Reconciliation [Abstract] | ' | ' | ' |
Number of Properties Encumbered | 14 | ' | ' |
Fannie Mae Pool 3 [Domain] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Encumbrances | 485,958,561 | ' | ' |
Real Estate and Accumulated Depreciation Encumbrances Reconciliation [Abstract] | ' | ' | ' |
Number of Properties Encumbered | 5 | ' | ' |
Archstone Master Property [Domain] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Encumbrances | 800,000,000 | ' | ' |
Real Estate and Accumulated Depreciation Encumbrances Reconciliation [Abstract] | ' | ' | ' |
Number of Properties Encumbered | 13 | ' | ' |
Individual Property Encumbrances [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Encumbrances | 3,038,206,859 | ' | ' |
EQR-Wholly Owned Unencumbered [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Properties | 253 | ' | ' |
Units | 67,220 | ' | ' |
Investment in Real Estate, Gross | 17,386,901,834 | ' | ' |
Accumulated Depreciation | -3,177,396,618 | ' | ' |
Investment in Real Estate Net | 14,209,505,216 | ' | ' |
Encumbrances | 0 | ' | ' |
Changes in accumulated depreciation | ' | ' | ' |
Balance, end of year | -3,177,396,618 | ' | ' |
EQR-Wholly Owned Encumbered [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Properties | 112 | ' | ' |
Units | 32,101 | ' | ' |
Investment in Real Estate, Gross | 8,397,867,526 | ' | ' |
Accumulated Depreciation | -1,457,510,357 | ' | ' |
Investment in Real Estate Net | 6,940,357,169 | ' | ' |
Encumbrances | 2,703,534,549 | ' | ' |
Changes in accumulated depreciation | ' | ' | ' |
Balance, end of year | -1,457,510,357 | ' | ' |
Portfolio Entity Encumbrances [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Properties | 0 | ' | ' |
Units | 0 | ' | ' |
Investment in Real Estate, Gross | 0 | ' | ' |
Accumulated Depreciation | 0 | ' | ' |
Investment in Real Estate Net | 0 | ' | ' |
Encumbrances | 2,135,958,561 | ' | ' |
Changes in accumulated depreciation | ' | ' | ' |
Balance, end of year | 0 | ' | ' |
Wholly Owned Properties [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Properties | 365 | ' | ' |
Units | 99,321 | ' | ' |
Investment in Real Estate, Gross | 25,784,769,360 | ' | ' |
Accumulated Depreciation | -4,634,906,975 | ' | ' |
Investment in Real Estate Net | 21,149,862,385 | ' | ' |
Encumbrances | 4,839,493,110 | ' | ' |
Changes in accumulated depreciation | ' | ' | ' |
Balance, end of year | -4,634,906,975 | ' | ' |
EQR-Partially Owned Unencumbered [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Properties | 8 | ' | ' |
Units | 1,505 | ' | ' |
Investment in Real Estate, Gross | 573,312,560 | ' | ' |
Accumulated Depreciation | -69,955,775 | ' | ' |
Investment in Real Estate Net | 503,356,785 | ' | ' |
Encumbrances | 0 | ' | ' |
Changes in accumulated depreciation | ' | ' | ' |
Balance, end of year | -69,955,775 | ' | ' |
EQR-Partially Owned Encumbered [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Properties | 11 | ' | ' |
Units | 2,247 | ' | ' |
Investment in Real Estate, Gross | 442,866,480 | ' | ' |
Accumulated Depreciation | -102,846,572 | ' | ' |
Investment in Real Estate Net | 340,019,908 | ' | ' |
Encumbrances | 334,672,310 | ' | ' |
Changes in accumulated depreciation | ' | ' | ' |
Balance, end of year | -102,846,572 | ' | ' |
Partially Owned Properties [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Properties | 19 | ' | ' |
Units | 3,752 | ' | ' |
Investment in Real Estate, Gross | 1,016,179,040 | ' | ' |
Accumulated Depreciation | -172,802,347 | ' | ' |
Investment in Real Estate Net | 843,376,693 | ' | ' |
Encumbrances | 334,672,310 | ' | ' |
Changes in accumulated depreciation | ' | ' | ' |
Balance, end of year | -172,802,347 | ' | ' |
Unencumbered Properties [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Properties | 261 | ' | ' |
Units | 68,725 | ' | ' |
Investment in Real Estate, Gross | 17,960,214,394 | ' | ' |
Accumulated Depreciation | -3,247,352,393 | ' | ' |
Investment in Real Estate Net | 14,712,862,001 | ' | ' |
Encumbrances | 0 | ' | ' |
Changes in accumulated depreciation | ' | ' | ' |
Balance, end of year | -3,247,352,393 | ' | ' |
Encumbered Properties [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Properties | 123 | ' | ' |
Units | 34,348 | ' | ' |
Investment in Real Estate, Gross | 8,840,734,006 | ' | ' |
Accumulated Depreciation | -1,560,356,929 | ' | ' |
Investment in Real Estate Net | 7,280,377,077 | ' | ' |
Encumbrances | 5,174,165,420 | ' | ' |
Changes in accumulated depreciation | ' | ' | ' |
Balance, end of year | -1,560,356,929 | ' | ' |
Total Consolidated Investment in Real Estate [Member] | ' | ' | ' |
Overall summary of real estate and accumulated depreciation | ' | ' | ' |
Properties | 384 | ' | ' |
Units | 103,073 | ' | ' |
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land | 6,887,475,376 | ' | ' |
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,679,961,107 | ' | ' |
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,233,511,917 | ' | ' |
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land | 6,887,475,376 | ' | ' |
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,913,473,024 | ' | ' |
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 26,800,948,400 | ' | ' |
Investment in Real Estate, Gross | 26,800,948,400 | ' | ' |
Accumulated Depreciation | -4,807,709,322 | ' | ' |
Investment in Real Estate Net | 21,993,239,078 | ' | ' |
Encumbrances | 5,174,165,420 | ' | ' |
Changes in accumulated depreciation | ' | ' | ' |
Balance, end of year | ($4,807,709,322) | ' | ' |
Real_Estate_and_Accumulated_De2
Real Estate and Accumulated Depreciation (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 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2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||
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[Member] | Promenade [Member] | Providence [Member] | Reserve at Clarendon Centre, The [Member] | Reserve at Eisenhower, The [Member] | Reserve at Empire Lakes [Member] | Reserve at Fairfax Corners [Member] | Reserve at Potomac Yard [Member] | Reserve at Town Center (WA) [Member] | Rianna II [Member] | Rockingham Glen [Member] | San Mateo [Member] | Santa Clara [Member] | Siena Terrace [Member] | Skyview [Member] | South Market [Member] | South Winds [Member] | Stonegate C O [Member] | Stoney Ridge [Member] | Summerset Village [Member] | Talleyrand [Member] | Teresina [Member] | Toscana [Member] | Touriel Building [Member] | Town Square at Mark Center I [Member] | Uptown Square [Member] | Van Ness [Member] | Versailles [Member] | Versailles (K-Town) [Member] | Victor on Venice [Member] | Vintage [Member] | Vista on Courthouse [Member] | Water Park Towers [Member] | West 54th [Member] | Westgate (fka Westgate I) [Member] | Woodleaf [Member] | Wholly Owned Encumbered [Member] | Elliott 2300 [Member] | 400 Park Aveue South (EQR) [Member] | 400 Park Aveue South (Toll) [Member] [Member] | Canyon Ridge [Member] | Country Oaks [Member] | East Palmetto Park [Member] | Fox Ridge [Member] | Hudson Crossing Two [Member] | Monterra in Mill Creek [Member] | Park Aire [Member] | Strayhorse at Arrowhead Ranch [Member] | Ventura [Member] | Wood Creek II (fka Willow Brook) | Partially Owned Unencumbered [Member] | Bellevue Meadows [Member] | Canyon Creek C [Member] | Elliot Bay [Domain] | Isle at Arrowhead Ranch [Member] | Lantern Cove [Member] | Rosecliff [Member] | Schooner Bay One [Member] | Schooner Bay Two [Member] | Surrey Downs [Member] | Virgil Square [Member] | Wisconsin Place [Domain] | Partially Owned Encumbered [Member] | Portfolio Entity Encumbrances [Member] | Total Consolidated Investment in Real Estate [Member] | Unconsolidated Operating [Domain] | Depreciable Property [Member] | Building [Member] | Renovations and Improvements Minimum [Member] | Renovations and Improvements Maximum [Member] | Replacements Minimum [Member] | Replacements Maximum [Member] | Management Business Renovations and Improvements Minimum [Member] [Member] | Management Business Renovations and Improvements Maximum [Member] [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Fixtures and Equipment, Gross | $1,214,220,000 | $1,343,765,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,214,220,221 | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Land And Depreciable Property Net | 15,200,000,000 | 11,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Real Estates And Accumulated Depreciation Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Real Estate And Accumulated Depreciation Description Of Location | ' | ' | ' | ' | 'Washington, D.C. | 'Alexandria, VA (G) | 'Washington, D.C. (G) | 'Washington, D.C. (G) | 'New York, NY | 'Brooklyn, NY (G) | 'Anaheim, CA | 'Seattle, WA | 'Arlington, VA (G) | 'Arlington, VA (G) | 'Washington, D.C. (G) | 'New York, NY | 'Washington, D.C. (G) | 'New York, NY (G) | 'Jersey City, NJ (G) | 'New York, NY (G) | 'San Francisco, CA | 'New York, NY (G) | 'San Francisco, CA | 'Daly City, CA (G) | 'Abington, MA | 'Agoura Hills, CA | 'Washington, D.C. | 'Sunnyvale, CA | 'Canton, MA | 'Orlando, FL | 'Los Angeles, CA | 'Corona Hills, CA | 'Orlando, FL | 'Redwood City, CA | 'San Francisco, CA | 'Denver, CO (G) | 'Oviedo, FL | 'Long Beach, CA | 'New York, NY | 'Mukilteo, WA (G) | 'Bellevue, WA | 'Marina Del Ray, CA | 'Bellevue, WA (G) | 'Berkeley, CA | 'Boston, MA (G) | 'Newington, CT | 'Vernon, CT | 'Sunnyvale, CA | 'Greensboro, NC | 'Brooklyn, NY (G) | 'Brooklyn, NY (G) | 'Boulder, CO | 'Cambridge, MA (G) | 'Alexandria, VA | 'Seattle, WA | 'Seattle, WA | 'Seattle, WA (G) | 'Ontario, CA | 'Ontario, CA | 'Denver, CO | 'Los Angeles, CA | 'Coconut Creek, FL | 'Arlington, VA (G) | 'Boynton Beach, FL | 'Boynton Beach, FL | 'San Mateo, CA | 'Waltham, MA (G) | 'Orlando, FL | 'Arlington, VA | 'Cupertino, CA | 'Orlando, FL | 'Lakewood, CO | 'Taunton, MA | 'Corona, CA | 'San Diego, CA | 'Washington, D.C. (G) | 'Chino Hills, CA | 'Bethesda, MD | 'Dublin, CA | 'Boston, MA (G) | 'Emeryville, CA | 'Encinitas, CA (G) | 'Deerfield Beach, FL | 'Coconut Creek, FL | 'Sherman Oaks, CA | 'Wellington, FL | 'Washington, D.C. | 'Enfield, CT | 'Fremont, CA (G) | 'Coral Gables, FL (G) | 'Hermosa Beach, CA | 'Pembroke Pines, FL | 'Plantation, FL | 'Redmond, WA | 'San Francisco, CA | 'Franklin, MA | 'Glendale, CA | 'Bowie, MD | 'Rocky Hill , CT | 'Centennial, CO | 'Centennial, CO | 'Pleasanton, CA | 'Beverly Hills, CA | 'Miami, FL | 'Los Angeles, CA | 'Seattle, WA (G) | 'Lynwood, WA | 'Boynton Beach, FL | 'Ellington, CT | 'Westwood, MA | 'Westwood, MA | 'Cherry Hills, NJ | 'South Plainfield, NJ | 'Los Angeles, CA (G) | 'New York, NY (G) | 'Jersey City, NJ | 'Charlotte, NC | 'Everett, WA | 'Los Angeles, CA (G) | 'Cambridge, MA | 'Burbank, CA | 'Miami, FL | 'Orlando, FL | 'Pembroke Pines, FL | 'W. New York, NJ | 'Highlands Ranch, CO | 'Quincy, MA | 'Arlington, VA | 'New York, NY (G) | 'Boston, MA (G) | 'New York, NY (G) | 'Marina Del Rey, CA | 'Corona Hills, CA | 'Bellevue, WA | 'Los Angeles, CA (G) | 'Irvine, CA | 'San Jose, CA | 'Hyattsville, MD | 'Mountain View, CA | 'Los Angeles, CA | 'New York, NY (G) | 'Valencia, CA | 'Germantown, MD | 'Pleasant Hill, CA | 'Germantown, MD | 'Agoura Hills, CA | 'Agoura Hills, CA | 'Falls Church, VA | 'Boston, MA (G) | 'Arlington, VA | 'Marina Del Rey, CA | 'Delray Beach, FL | 'Delray Beach, FL | 'Solana Beach, CA | 'Key West, FL | 'Redmond, WA | 'San Francisco, CA | 'Lynnwood, WA | 'Davie, FL | 'New York, NY (G) | 'New York, NY (G) | 'New York, NY (G) | 'New York, NY (G) | 'Coral Springs, FL | 'Washington, D.C. | 'Los Angeles, CA | 'Denver, CO | 'Union City, CA | 'Los Angeles, CA (G) | 'Arlington, VA (G) | 'Wellesley, MA | 'Playa Del Rey, CA | 'Hermosa Beach, CA | 'Chino Hills, CA | 'Valencia, CA | 'Jersey City, NJ (G) | 'San Francisco, CA | 'Deerfield Beach, FL | 'Arlington, VA | 'Aventura, FL | 'Valencia, CA | 'Valencia, CA | 'Coral Springs, FL | 'Corona, CA | 'Quincy, MA | 'Redmond , WA (G) | 'Miami, FL (G) | 'Bellevue, WA | 'Huntington Beach, CA | 'Berkeley, CA (G) | 'Boynton Beach, FL | 'Mill Creek, WA | 'Mill Creek, WA | 'Pompano Beach, FL (G) | 'Pasadena, CA | 'Pasadena, CA | 'Redmond, WA | 'Seattle, WA (G) | 'San Diego, CA | 'San Francisco, CA | 'Redwood City, CA | 'Redwood City, CA | 'New York, NY (G) | 'Redmond, WA (G) | 'Windsor, CT | 'Norwalk, CT | 'Amherst, MA | 'Milford, MA | 'Quincy, MA | 'Arlington, VA (G) | 'Orlando, FL | 'Coral Springs, FL | 'Everett, WA | 'Los Angeles, CA (G) | 'Sausalito, CA | 'Aurora, CO | 'Aurora, CO | 'Rockville, MD | 'Seattle, WA | 'Winter Springs, FL | 'Arlington, VA | 'Dania Beach, FL | 'Dania Beach, FL | 'Valencia, CA | 'Union City, CA | 'Burlingame, CA | 'Falls Church, VA (G) | 'Foothill Ranch, CA | 'San Francisco, CA (G) | 'Palo Alto, CA | 'Riverside, CA | 'Coconut Creek, FL | 'Chatsworth, CA | 'Farmington, CT | 'Seattle, WA | 'Seattle, WA | 'San Jose, CA | 'New York, NY (G) | 'San Francisco, CA (G) | 'Cambridge, MA (G) | 'Orlando, FL | 'St. Charles, MD | 'Alexandria, VA | 'New York, NY (G) | 'New York, NY (G) | 'New York, NY (G) | 'Seattle, WA (G) | 'Seattle, WA | 'San Diego, CA (G) | 'Redmond, WA (G) | 'Silver Spring, MD (G) | 'Laguna Hills, CA | 'Lakewood, CO | 'Los Angeles, CA | 'Arlington, VA (G) | 'Mission Viejo, CA | 'Cambridge, MA | 'Thornton, CO | 'Watertown, MA (G) | 'Needham, MA | 'Sunrise, FL | 'New York, NY (G) | 'Boston, MA (G) | 'Seattle, WA | 'Waldorf, MD (G) | 'Rockville, MD | 'New York, NY (G) | 'Los Angeles, CA | 'Los Angeles, CA | 'Los Angeles, CA | 'Los Angeles, CA | 'Los Angeles, CA | 'Los Angeles, CA | 'Los Angeles, CA | 'Los Angeles, CA | 'Westwood, MA | 'Laguna Niguel, CA | 'Pembroke Pines, FL | 'Pleasant Hill, CA | 'Newington, CT | 'Kirkland, WA | 'East Palo Alto, CA (G) | 'Chicago, IL | 'Chicago, IL | ' | 'New York, NY (G) | 'Arlington, VA | 'Washington, D.C. | 'Chevy Chase, MD (G) | 'San Mateo, CA | 'Cambridge, MA (G) | 'North Hollywood, CA | 'Pasadena, CA | 'Berkeley, CA (G) | 'Fremont, CA | 'Sunnyvale, CA | 'Berkeley, CA (G) | 'Northridge, CA | 'Anaheim, CA | 'Boston, MA (G) | 'Berkeley, CA (G) | 'Woodland Hills, CA | 'Berkeley, CA (G) | 'Marina Del Rey, CA | 'Santa Monica, CA (G) | 'Washington, D.C. | 'New York, NY (G) | 'Germantown, MD | 'San Diego, CA | 'New York, NY (G) | 'Redmond, WA | 'Cambridge, MA (G) | 'Santa Monica, CA | 'Fullerton, CA (G) | 'Boston, MA (G) | 'Arlington, VA (G) | 'Washington, D.C. | 'Denver, CO | 'Arlington, VA | 'Washington, D.C. | 'Highlands Ranch, CO | 'San Diego, CA | 'San Diego, CA | 'New York, NY (G) | 'Westminster, CO | 'Fairfax, VA | 'Stamford, CT (G) | 'Berkeley, CA (G) | 'Washington, D.C. | 'Berkeley, CA (G) | 'Gaithersburg, MD (G) | 'Malden, MA (G) | 'Los Angeles, CA (G) | 'Long Beach, CA | 'Seattle, WA (G) | 'Burlington, MA | 'Kirkland, WA | 'Hoboken, NJ | 'Bothell, WA | 'Irvine, CA | 'Colma, CA (G) | 'Santa Clara, CA | 'Brain Tree, MA | 'Arlington, VA (G) | 'Encino, CA | 'Waltham, MA | 'San Diego, CA | 'Englewood, CO (G) | 'Seattle, WA (G) | 'Plantation, FL (G) | 'Milpitas, CA | 'Miramar, FL | 'Seattle, WA (G) | 'Phoenix, AZ | 'San Diego, CA | 'Hyattsville, MD | 'Davie, FL | 'Jersey City, NJ | 'Burlingame, CA | 'Germantown, MD | 'Santa Clarita, CA | 'Seattle, WA (G) | 'Santa Monica, CA (G) | 'Bothell, WA | 'Arlington, VA (G) | 'Alexandria, VA | 'Rancho Cucamonga, CA | 'Fairfax, VA | 'Alexandria, VA | 'Mill Creek, WA | 'Seattle, WA (G) | 'West Roxbury, MA | 'San Mateo, CA (G) | 'Santa Clara, CA | 'Lake Forest, CA | 'Rancho Santa Margarita, CA | 'San Francisco, CA (G) | 'Fall River, MA | 'Broomfield, CO | 'Dale City, VA | 'Chatsworth, CA | 'Tarrytown, NY | 'Chula Vista, CA | 'Irvine, CA | 'Berkeley, CA (G) | 'Alexandria, VA | 'Denver, CO (G) | 'Washington, D.C. | 'Woodland Hills, CA | 'Los Angeles, CA | 'Los Angeles, CA (G) | 'Ontario, CA | 'Arlington, VA | 'Arlington, VA | 'New York, NY (G) | 'Pasadena, CA | 'Campbell, CA | ' | 'Seattle, WA | 'New York, NY | 'New York, NY | 'San Diego, CA | 'Agoura Hills, CA | 'Boca Raton, FL | 'Englewood, CO | 'New York, NY | 'Mill Creek, WA | 'Wellington, FL | 'Glendale, AZ | 'Ventura, CA | 'Pleasant Hill, CA | ' | 'Bellevue, WA | 'San Ramon, CA | 'Seattle, WA (G) | 'Glendale, AZ | 'Foster City, CA | 'Quincy, MA | 'Foster City, CA | 'Foster City, CA | 'Bellevue, WA | 'Los Angeles, CA | 'Chevy Chase, MD | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Real Estate And Accumulated Depreciation Units | ' | ' | ' | ' | 0 | 0 | 144 | 556 | 0 | 113 | 0 | 0 | 188 | 219 | 359 | 155 | 559 | 135 | 480 | 238 | 102 | 294 | 0 | 95 | 90 | 178 | 229 | 175 | 156 | 336 | 118 | 492 | 480 | 123 | 0 | 354 | 233 | 160 | 302 | 235 | 1 | 102 | 191 | 0 | 420 | 64 | 150 | 192 | 0 | 193 | 490 | 144 | 312 | 317 | 0 | 0 | 408 | 312 | 100 | 480 | 92 | 301 | 396 | 252 | 296 | 192 | 281 | 352 | 181 | 311 | 316 | 201 | 58 | 316 | 168 | 120 | 252 | 122 | 324 | 444 | 261 | 120 | 300 | 278 | 174 | 400 | 0 | 168 | 322 | 195 | 169 | 296 | 312 | 180 | 164 | 288 | 264 | 478 | 151 | 291 | 266 | 540 | 35 | 296 | 259 | 758 | 197 | 192 | 100 | 180 | 102 | 170 | 252 | 128 | 259 | 182 | 0 | 381 | 0 | 186 | 141 | 480 | 672 | 358 | 276 | 422 | 336 | 212 | 293 | 710 | 98 | 623 | 336 | 67 | 99 | 0 | 108 | 242 | 180 | 272 | 270 | 234 | 304 | 221 | 208 | 220 | 224 | 176 | 94 | 162 | 597 | 196 | 128 | 146 | 297 | 192 | 0 | 104 | 768 | 137 | 166 | 177 | 324 | 257 | 142 | 444 | 476 | 208 | 322 | 298 | 49 | 354 | 285 | 176 | 216 | 527 | 0 | 540 | 256 | 296 | 294 | 270 | 332 | 330 | 316 | 250 | 404 | 206 | 310 | 34 | 440 | 100 | 0 | 225 | 0 | 0 | 321 | 78 | 408 | 0 | 304 | 149 | 323 | 319 | 373 | 92 | 204 | 304 | 130 | 314 | 400 | 275 | 123 | 230 | 198 | 444 | 168 | 121 | 96 | 280 | 597 | 240 | 648 | 264 | 174 | 138 | 939 | 300 | 360 | 100 | 0 | 284 | 0 | 186 | 150 | 0 | 0 | 111 | 117 | 471 | 314 | 0 | 272 | 354 | 455 | 516 | 0 | 176 | 679 | 322 | 457 | 272 | 472 | 0 | 231 | 608 | 232 | 336 | 134 | 77 | 304 | 207 | 310 | 0 | 491 | 192 | 163 | 204 | 21 | 23 | 36 | 36 | 60 | 18 | 53 | 156 | 344 | 464 | 256 | 73 | 288 | 1,811 | 0 | 0 | 67,220 | 506 | 326 | 202 | 513 | 241 | 127 | 248 | 143 | 71 | 442 | 410 | 21 | 140 | 162 | 241 | 44 | 579 | 56 | 224 | 101 | 136 | 261 | 544 | 384 | 266 | 113 | 85 | 70 | 183 | 295 | 292 | 214 | 193 | 247 | 518 | 222 | 316 | 181 | 254 | 504 | 392 | 263 | 100 | 306 | 91 | 389 | 203 | 201 | 385 | 104 | 180 | 202 | 301 | 144 | 132 | 153 | 264 | 202 | 235 | 129 | 348 | 229 | 616 | 102 | 247 | 516 | 344 | 251 | 480 | 272 | 260 | 316 | 297 | 510 | 192 | 520 | 328 | 58 | 200 | 252 | 226 | 467 | 652 | 588 | 389 | 78 | 143 | 575 | 450 | 356 | 260 | 410 | 404 | 350 | 264 | 280 | 300 | 440 | 563 | 35 | 406 | 696 | 625 | 253 | 225 | 115 | 300 | 220 | 362 | 222 | 480 | 178 | 32,101 | 92 | 0 | 0 | 162 | 256 | 0 | 300 | 0 | 139 | 0 | 136 | 192 | 228 | 1,505 | 180 | 268 | 147 | 256 | 232 | 156 | 168 | 144 | 122 | 142 | 432 | 2,247 | 0 | 103,073 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Initial Cost to Company, Land | ' | ' | ' | ' | 15,600,000 | 18,937,702 | 9,213,512 | 54,638,298 | 0 | 22,037,831 | 5,865,235 | 22,106,464 | 11,321,198 | 21,900,000 | 30,006,593 | 39,277,000 | 28,150,000 | 32,852,000 | 28,108,899 | 22,611,600 | 5,249,124 | 65,352,706 | 42,367,171 | 7,786,800 | 553,105 | 16,700,000 | 18,900,000 | 9,057,300 | 4,685,900 | 5,500,000 | 8,000,400 | 2,594,264 | 3,808,823 | 7,995,000 | 32,855,115 | 5,481,556 | 6,990,000 | 7,600,000 | 114,351,405 | 5,686,861 | 63,158 | 9,098,808 | 15,100,000 | 13,908,910 | 106,100,000 | 401,091 | 928,972 | 9,991,500 | 1,100,564 | 32,400,000 | 40,099,922 | 3,600,400 | 31,200,000 | 10,000,000 | 12,198,278 | 11,553,286 | 9,700,000 | 5,616,000 | 1,820,000 | 4,803,100 | 6,615,467 | 3,001,700 | 0 | 12,600,000 | 14,800,000 | 9,606,600 | 32,300,000 | 12,009,630 | 17,200,000 | 40,400,000 | 7,000,000 | 1,609,800 | 498,080 | 4,742,200 | 15,100,000 | 13,500,000 | 1,808,900 | 13,092,552 | 25,900,000 | 14,855,000 | 12,300,000 | 12,000,000 | 15,000,000 | 5,560,000 | 8,700,000 | 20,000,000 | 11,771,446 | 1,129,018 | 25,800,000 | 0 | 18,144,000 | 1,896,600 | 2,228,200 | 2,306,100 | 1,722,400 | 2,339,330 | 0 | 19,845,000 | 911,534 | 4,365,000 | 3,990,000 | 43,200,000 | 7,772,000 | 319,180 | 10,806,000 | 59,390,179 | 6,895,000 | 1,546,700 | 583,679 | 2,229,095 | 0 | 6,800,000 | 10,080,000 | 9,435,760 | 23,420,000 | 5,350,000 | 100,000 | 1,597,500 | 14,791,831 | 23,300,000 | 14,100,000 | 19,200,000 | 23,520,000 | 17,900,000 | 27,246,045 | 6,330,000 | 5,928,400 | 20,100,000 | 73,170,045 | 53,164,160 | 22,346,513 | 0 | 6,888,500 | 3,200,000 | 8,125,216 | 10,743,027 | 5,190,700 | 4,120,800 | 27,000,000 | 8,500,000 | 75,800,000 | 9,360,000 | 15,000,000 | 5,527,800 | 10,000,000 | 1,706,900 | 1,683,800 | 20,240,000 | 22,200,000 | 15,400,000 | 0 | 5,900,000 | 3,840,000 | 5,111,200 | 2,838,749 | 4,807,100 | 30,952,393 | 480,600 | 38,400,000 | 40,504,000 | 37,600,000 | 52,654,000 | 102,163,000 | 15,420,000 | 13,700,000 | 3,033,500 | 8,330,000 | 6,246,700 | 18,094,052 | 28,300,000 | 816,922 | 60,900,000 | 35,100,000 | 3,572,400 | 8,640,000 | 22,487,006 | 40,830,011 | 13,500,000 | 32,000,000 | 13,320,000 | 14,700,000 | 13,500,000 | 6,640,000 | 2,272,800 | 26,900,000 | 15,546,376 | 27,383,547 | 10,300,000 | 1,857,400 | 2,458,000 | 3,520,400 | 4,310,417 | 2,089,388 | 5,783,545 | 17,859,785 | 12,118,061 | 6,975,705 | 2,268,160 | 11,809,500 | 42,000,000 | 34,963,355 | 17,136,645 | 118,669,441 | 14,355,000 | 3,325,517 | 2,300,000 | 1,340,702 | 2,012,350 | 4,922,840 | 31,400,000 | 2,800,000 | 1,951,600 | 2,500,000 | 14,641,990 | 26,000,000 | 5,450,295 | 659,165 | 1,815,000 | 663,800 | 6,000,000 | 3,342,381 | 12,000,000 | 18,313,414 | 10,560,000 | 1,781,600 | 16,836,000 | 78,278,200 | 7,503,400 | 68,900,000 | 6,936,600 | 18,200,000 | 5,680,000 | 260,646 | 1,757,438 | 1,424,700 | 16,807,519 | 27,679,638 | 0 | 14,087,610 | 26,767,171 | 6,280,000 | 1,500,000 | 15,568,464 | 103,539,100 | 139,933,500 | 144,968,250 | 12,542,418 | 8,800,000 | 9,403,960 | 15,322,724 | 18,539,817 | 1,665,100 | 4,519,700 | 79,175,802 | 0 | 4,525,800 | 12,448,888 | 5,040,000 | 16,800,000 | 1,418,893 | 3,648,000 | 84,800,000 | 469,546 | 11,726,305 | 11,900,000 | 10,600,000 | 64,900,000 | 34,200,000 | 1,785,000 | 1,955,000 | 3,060,000 | 3,060,000 | 5,100,000 | 1,530,000 | 4,505,000 | 1,616,505 | 2,662,900 | 18,561,000 | 9,729,900 | 498,377 | 6,631,400 | 72,627,418 | 0 | 0 | 4,699,200,739 | 190,600,000 | 9,780,000 | 13,000,000 | 76,921,130 | 21,041,710 | 3,252,993 | 25,000,000 | 5,839,548 | 5,550,000 | 24,310,000 | 26,650,000 | 1,642,000 | 7,000,000 | 12,960,000 | 0 | 3,439,000 | 31,682,754 | 4,377,000 | 0 | 12,600,000 | 12,600,000 | 79,400,000 | 2,781,300 | 2,288,300 | 59,900,000 | 3,397,100 | 5,220,000 | 9,000,000 | 6,863,792 | 14,704,898 | 30,400,340 | 18,300,000 | 5,790,000 | 23,500,000 | 27,600,000 | 1,442,212 | 2,082,095 | 7,801,824 | 48,900,000 | 7,560,000 | 23,500,000 | 6,510,200 | 7,817,000 | 35,200,000 | 7,113,000 | 17,500,000 | 9,209,780 | 16,047,022 | 2,512,500 | 5,425,000 | 10,800,000 | 9,245,000 | 27,900,000 | 2,732,800 | 10,752,145 | 0 | 13,642,420 | 5,977,504 | 16,382,822 | 5,805,000 | 20,880,000 | 13,740,000 | 4,928,500 | 8,540,000 | 10,129,900 | 12,858,693 | 17,200,000 | 12,649,228 | 12,700,000 | 8,160,000 | 0 | 15,800,000 | 4,000,159 | 38,607,000 | 854,133 | 23,400,000 | 14,752,034 | 9,000,000 | 3,573,621 | 10,500,000 | 6,500,000 | 16,345,000 | 15,804,057 | 11,918,917 | 10,369,400 | 2,161,840 | 1,124,217 | 71,900,000 | 0 | 8,900,000 | 3,380,000 | 79,900,000 | 2,481,821 | 8,750,000 | 8,000,000 | 2,629,804 | 12,000,000 | 28,600,000 | 39,410,000 | 2,736,000 | 24,360,000 | 17,492,000 | 56,300,000 | 12,650,000 | 10,590,975 | 10,350,000 | 7,059,230 | 15,550,260 | 34,400,000 | 60,900,000 | 22,898,848 | 8,550,600 | 1,935,536,426 | 796,800 | 76,292,169 | 58,090,357 | 4,869,448 | 6,105,000 | 20,200,000 | 2,490,000 | 5,000,000 | 2,800,000 | 8,000,000 | 4,400,000 | 8,600,000 | 5,055,000 | 202,698,774 | 4,507,100 | 5,425,000 | 7,600,000 | 1,650,237 | 6,945,000 | 5,460,000 | 5,345,000 | 4,550,000 | 3,057,100 | 5,500,000 | 0 | 50,039,437 | ' | 6,887,475,376 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | ' | ' | ' | ' | 912,267 | 83,371,939 | 36,559,189 | 40,361,702 | 44,799,315 | 53,962,169 | 1,823,393 | 4,717,126 | 49,615,688 | 79,242,161 | 114,013,785 | 23,026,984 | 138,600,000 | 43,140,551 | 236,965,215 | 77,492,171 | 18,609,876 | 65,747,294 | 3,280,863 | 31,587,325 | 3,697,396 | 30,344,413 | 90,351,467 | 18,483,642 | 10,992,751 | 28,600,796 | 36,074,600 | 33,042,398 | 29,322,243 | 18,005,000 | 33,412,715 | 51,658,741 | 15,740,825 | 27,437,239 | 165,648,595 | 26,070,540 | 248,929 | 28,701,192 | 42,169,280 | 5,082,581 | 167,711,384 | 2,681,210 | 6,209,988 | 22,247,278 | 792,508 | 93,317,261 | 221,435,831 | 10,211,159 | 106,752,364 | 51,367,913 | 4,063,175 | 2,711,440 | 70,080,378 | 23,485,891 | 9,528,898 | 34,894,898 | 14,829,335 | 17,678,928 | 87,821,045 | 31,469,651 | 37,874,719 | 21,193,232 | 85,723,236 | 44,407,977 | 48,253,858 | 96,638,206 | 27,654,816 | 10,832,754 | 3,329,560 | 20,272,892 | 41,147,185 | 27,120,388 | 16,274,361 | 43,907,448 | 84,551,331 | 57,566,636 | 61,845,626 | 29,419,415 | 33,194,576 | 19,939,324 | 25,446,003 | 64,790,850 | 6,095,393 | 7,547,256 | 79,290,493 | 44,601,000 | 46,567,941 | 17,070,795 | 20,056,270 | 12,064,015 | 15,471,429 | 16,133,588 | 68,325,277 | 73,335,916 | 6,093,418 | 38,372,440 | 35,846,708 | 129,637,659 | 16,864,269 | 12,513,467 | 30,335,330 | 158,829,432 | 18,983,597 | 7,774,676 | 3,901,774 | 16,828,153 | 19,875,857 | 21,459,108 | 37,526,912 | 32,564,240 | 69,977,699 | 41,114,074 | 0 | 14,367,864 | 71,969,127 | 78,968,911 | 24,662,883 | 48,379,586 | 75,068,206 | 24,460,989 | 37,741,050 | 37,557,013 | 33,595,262 | 68,361,638 | 53,962,510 | 185,928,608 | 61,501,158 | 169,967,439 | 21,604,584 | 9,616,264 | 27,378,784 | 6,214,141 | 9,679,109 | 42,477,297 | 33,338,325 | 52,529,446 | 103,623,712 | 20,778,553 | 23,142,302 | 14,691,705 | 13,155,522 | 15,362,666 | 15,154,608 | 20,152,616 | 28,934,606 | 35,735,963 | 121,554,078 | 25,310,444 | 17,490,066 | 11,910,438 | 25,545,009 | 14,126,038 | 3,124,964 | 4,372,033 | 105,693,432 | 18,025,679 | 9,855,597 | 23,045,751 | 108,989,402 | 36,064,629 | 59,460,861 | 27,302,383 | 28,667,618 | 11,827,453 | 81,905,948 | 79,387,601 | 5,460,955 | 90,085,898 | 33,473,822 | 14,660,994 | 21,487,126 | 96,842,913 | 2,683,265 | 60,011,208 | 64,436,539 | 30,353,748 | 35,390,279 | 34,405,636 | 26,743,760 | 20,546,289 | 84,983,599 | 65,320,010 | 99,656,440 | 33,713,933 | 16,713,254 | 4,542,000 | 23,332,494 | 17,165,142 | 16,339,822 | 39,334,455 | 83,708,925 | 19,127,918 | 46,175,001 | 14,864,482 | 34,004,048 | 7,574,181 | 85,202,482 | 40,832,170 | 98,880,559 | 80,894,049 | 22,573,826 | 7,406,730 | 8,962,317 | 13,452,150 | 30,202,160 | 109,727,825 | 23,687,893 | 17,570,508 | 12,021,256 | 42,858,010 | 28,714,965 | 38,765,670 | 21,271,331 | 7,608,126 | 5,974,803 | 21,719,768 | 31,337,332 | 23,170,580 | 47,091,594 | 25,574,457 | 16,731,916 | 35,414,000 | 91,485,591 | 24,048,507 | 80,240,812 | 14,324,069 | 0 | 19,812,090 | 0 | 11,748,112 | 12,852,461 | 6,589,411 | 21,699,903 | 58,794,517 | 16,314,151 | 218,770,581 | 32,121,779 | 3,896 | 55,029,607 | 94,082,725 | 190,964,745 | 138,346,681 | 64,979,196 | 22,188,288 | 190,596,040 | 76,176,594 | 130,407,365 | 14,985,678 | 40,676,390 | 7,944,921 | 86,431,862 | 40,736,293 | 52,044,448 | 29,946,419 | 34,335,683 | 9,485,006 | 17,620,879 | 67,824,685 | 163,123,022 | 6,992,695 | 90,134,491 | 44,416,692 | 61,792,095 | 57,431,465 | 3,233,254 | 3,541,435 | 5,538,871 | 5,539,390 | 9,224,485 | 3,023,523 | 10,758,900 | 10,806,004 | 23,985,497 | 49,527,569 | 23,009,768 | 3,331,548 | 16,735,484 | 57,608,771 | 0 | 680,439 | 11,787,198,737 | 133,101,447 | 89,668,165 | 75,723,794 | 153,947,682 | 71,931,323 | 21,745,595 | 23,593,194 | 29,360,452 | 15,785,509 | 59,214,129 | 62,850,000 | 9,152,518 | 20,537,359 | 18,497,683 | 115,095,512 | 13,866,379 | 121,095,786 | 16,022,110 | 72,690,403 | 34,635,854 | 43,815,169 | 79,936,285 | 32,942,531 | 20,596,281 | 156,987,648 | 9,289,074 | 16,744,643 | 17,083,391 | 36,476,208 | 79,195,102 | 103,824,660 | 66,826,715 | 28,815,607 | 53,437,514 | 114,728,311 | 16,251,114 | 18,739,815 | 36,948,176 | 96,938,591 | 51,256,538 | 88,292,669 | 39,690,120 | 26,462,772 | 109,508,602 | 25,623,826 | 74,677,374 | 25,722,666 | 48,650,963 | 22,611,912 | 21,138,028 | 31,808,335 | 27,017,749 | 170,002,320 | 13,888,282 | 34,649,929 | 41,251,044 | 29,707,475 | 26,749,111 | 83,817,078 | 25,705,000 | 90,255,509 | 40,757,301 | 44,622,314 | 12,209,981 | 58,770,100 | 57,168,503 | 51,487,235 | 36,842,012 | 45,926,784 | 29,360,938 | 59,580,898 | 46,142,895 | 94,290,590 | 77,477,449 | 10,233,947 | 61,020,438 | 73,335,425 | 14,079,234 | 19,055,505 | 52,812,935 | 34,585,060 | 73,080,670 | 63,129,050 | 68,862,641 | 41,172,081 | 14,433,614 | 7,515,160 | 213,372,253 | 124,542,070 | 24,083,024 | 21,952,863 | 178,635,578 | 16,780,359 | 32,950,375 | 24,147,091 | 23,670,889 | 49,838,160 | 61,916,670 | 50,806,072 | 7,810,027 | 86,178,714 | 100,696,541 | 142,204,077 | 33,656,292 | 44,409,025 | 35,433,437 | 47,677,762 | 69,449,740 | 109,218,415 | 48,772,556 | 133,553,242 | 16,988,182 | 6,183,275,205 | 7,173,725 | 96,230,632 | 38,681,373 | 11,955,063 | 29,561,865 | 281,641 | 17,522,114 | 0 | 13,255,122 | 39,445,363 | 12,968,002 | 44,580,294 | 38,388,672 | 350,043,866 | 12,574,814 | 18,812,120 | 36,066,728 | 19,593,123 | 23,064,976 | 15,721,570 | 20,390,618 | 18,064,764 | 7,848,618 | 15,216,613 | 172,089,355 | 359,443,299 | ' | 18,679,961,107 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | ' | ' | ' | ' | 0 | 0 | 403,220 | 12,040,625 | 0 | 755,257 | 0 | 0 | 338,120 | 490,601 | 1,705,104 | 3,504,909 | 2,871,585 | 286,906 | 471,854 | 10,684,866 | 81,627 | 1,095,560 | 0 | 1,295,347 | 2,493,689 | 118,825 | 116,906 | 2,487,094 | 2,600,866 | 3,810,685 | 168,636 | 6,733,646 | 7,105,642 | 956,348 | 0 | 4,340,240 | 2,889,445 | 913,982 | 124,512 | 942,474 | -5,320 | 162,958 | 761,135 | 0 | 190,386 | 813,895 | 1,655,316 | 2,873,885 | 0 | 79,289 | 375,977 | 2,563,906 | 739,806 | 4,358,788 | 0 | 0 | 5,479,205 | 3,045,795 | 689,904 | 5,106,249 | 3,750,349 | 3,775,228 | 1,017,095 | 4,284,433 | 0 | 3,381,227 | 203,018 | 394,460 | 132,258 | 128,241 | 2,156,145 | 2,301,254 | 759,777 | 4,232,556 | 141,192 | 244,693 | 7,191,652 | 261,029 | 128,390 | 16,265,605 | 419,601 | 82,422 | 1,855,969 | 4,248,969 | 684,532 | 2,259,739 | 0 | 1,859,467 | 240,019 | 7,018,667 | 2,098,129 | 6,124,047 | 7,677,923 | 4,903,326 | 2,672,731 | 3,870,079 | 267,514 | 1,157,259 | 723,069 | 1,900,765 | 2,296,465 | 203,048 | 1,372,560 | 4,353,249 | 3,107,298 | 12,492,799 | 750,513 | 2,385,724 | 1,148,051 | 2,709,281 | 144,851 | 804,080 | 929,736 | 153,706 | 1,630,936 | 2,100,163 | 0 | 4,786,996 | 0 | 579,275 | 2,620,056 | 4,274,318 | 4,640,640 | 5,339,378 | 7,207,921 | 2,438,295 | 11,206,707 | 44,726 | 1,179,807 | 77,215,801 | 168,161 | 1,355,945 | 3,037,350 | 2,722,147 | 268,483 | 0 | 3,349,695 | 490,649 | 164,351 | 1,325,352 | 579,164 | 1,969,605 | 10,244,672 | 9,851,592 | 7,562,822 | 4,040,864 | 4,089,342 | 3,779,190 | 102,228 | 63,451 | 597,665 | 298,806 | 1,190 | 2,435,992 | 3,993,374 | 4,373,660 | 0 | 1,533,264 | 4,031,375 | 4,828,502 | 5,764,055 | 7,619,769 | 6,956,519 | 1,229,572 | 93,329 | 7,330,685 | 3,057,365 | 3,833,813 | 2,015,760 | 145,906 | 1,038,416 | 407,504 | 8,011,904 | 3,352,092 | 2,646,783 | 18,435,833 | 0 | 9,643,309 | 965,087 | 6,552,908 | 2,206,279 | 1,985,501 | 5,005,200 | 5,691,127 | 140,458 | 504,378 | 1,497,545 | 294,313 | 5,247,158 | 105,946 | 6,605,628 | 64,229 | 0 | 894,691 | 0 | 0 | 224,446 | 266,542 | 4,287,842 | 0 | 628,146 | 650,300 | 4,123,564 | 129,922 | 3,026,927 | 2,346,640 | 3,899,396 | 5,371,687 | 376,039 | 67,784 | 6,932,172 | 6,418,274 | 567,364 | 280,897 | 169,663 | 3,156,829 | 59,151 | 2,828,563 | 3,562,306 | 2,122,402 | 12,888,683 | 1,772,157 | 17,044,266 | 2,239,072 | 1,914,660 | 3,846,309 | 30,593,973 | 1,897,617 | 413,552 | 2,992,190 | 0 | 4,291,946 | 0 | 3,297,807 | 4,247,599 | 0 | 0 | 84,180 | 602,473 | 2,768,015 | 1,291,995 | 0 | 493,433 | 3,132,394 | 8,737,813 | 7,605,676 | 0 | 394,029 | 4,923,730 | 55,022 | 840,456 | 8,837,465 | 5,372,025 | 0 | 782,084 | 15,232,854 | 2,469,745 | 1,737,955 | 47,280 | 1,182,355 | 5,771,885 | 556,573 | 660,903 | 0 | 225,033 | 113,249 | 212,358 | 363,066 | 305,913 | 194,242 | 288,802 | 297,249 | 510,334 | 274,577 | 486,606 | 2,100,152 | 8,186,273 | 2,587,408 | 6,379,038 | 1,162,730 | 3,227,436 | 6,957,995 | 97,861,963 | 0 | 900,502,358 | 561,190 | 469,955 | 580,537 | 6,804,185 | 4,270,861 | 5,251,116 | 6,920,021 | 336,928 | 159,258 | 2,849,892 | 696,941 | 114,811 | 977,155 | 1,248,387 | 94,558 | 115,944 | 2,565,629 | 305,173 | 49,738 | 128,778 | 110,763 | 238,142 | 14,871,303 | 10,356,205 | 54,996 | 1,706,006 | 1,561,158 | 34,231 | 654,735 | 8,167,305 | 1,754,620 | 171,023 | 552,283 | 547,130 | 303,660 | 1,604,884 | 13,788,977 | 3,033,539 | 208,601 | 2,577,858 | 75,367 | 6,195,719 | 199,005 | 182,015 | 208,640 | 37,618 | 9,753,016 | 221,243 | 7,390,659 | 181,923 | 909,763 | 1,544,319 | 166,997 | 679,844 | 163,968 | 615,479 | 4,094,793 | 2,759,086 | 858,516 | 599,231 | 3,174,207 | 884,586 | 11,262,819 | 415,057 | 1,225,984 | 3,728,226 | 2,023,326 | 687,636 | 1,259,854 | 7,185,662 | 318,502 | 1,517,594 | 2,379,299 | 10,317,077 | 6,491,391 | 3,457,727 | 3,951,724 | 25,302 | 719,661 | 3,634,286 | 1,325,152 | 1,922,681 | 4,057,506 | 5,233,629 | 2,154,112 | 73,166 | 2,012,885 | 662,020 | 239,471 | 5,585,518 | 2,131,723 | 1,278,976 | 4,774,276 | 3,114,108 | 5,705,255 | 6,252,474 | 4,046,367 | 2,255,817 | 7,547,102 | 170,436 | 2,852,824 | 3,261,624 | 1,315,370 | 4,979,374 | 291,622 | 261,071 | 367,174 | 643,404 | 1,853,467 | 134,368 | 278,435 | 3,978,891 | 279,055,895 | 6,169,587 | 0 | 0 | 1,979,252 | 3,477,905 | 0 | 4,304,324 | 0 | 554,347 | 0 | 377,633 | 121,646 | 3,585,226 | 20,569,920 | 4,287,572 | 6,335,761 | 424,904 | 1,988,568 | 5,303,293 | 2,387,533 | 4,467,622 | 4,093,294 | 2,309,004 | 1,659,199 | 126,994 | 33,383,744 | ' | 1,233,511,917 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Gross Amount Carried at close of period 12/31/2013, Land | ' | ' | ' | ' | 15,600,000 | 18,937,702 | 9,213,512 | 54,638,298 | 0 | 22,037,831 | 5,865,235 | 22,106,464 | 11,321,198 | 21,900,000 | 30,006,593 | 39,277,000 | 28,150,000 | 32,852,000 | 28,108,899 | 22,611,600 | 5,249,124 | 65,352,706 | 42,367,171 | 7,786,800 | 553,105 | 16,700,000 | 18,900,000 | 9,057,300 | 4,685,900 | 5,500,000 | 8,000,400 | 2,594,264 | 3,808,823 | 7,995,000 | 32,855,115 | 5,481,556 | 6,990,000 | 7,600,000 | 114,351,405 | 5,686,861 | 63,158 | 9,098,808 | 15,100,000 | 13,908,910 | 106,100,000 | 401,091 | 928,972 | 9,991,500 | 1,100,564 | 32,400,000 | 40,099,922 | 3,600,400 | 31,200,000 | 10,000,000 | 12,198,278 | 11,553,286 | 9,700,000 | 5,616,000 | 1,820,000 | 4,803,100 | 6,615,467 | 3,001,700 | 0 | 12,600,000 | 14,800,000 | 9,606,600 | 32,300,000 | 12,009,630 | 17,200,000 | 40,400,000 | 7,000,000 | 1,609,800 | 498,080 | 4,742,200 | 15,100,000 | 13,500,000 | 1,808,900 | 13,092,552 | 25,900,000 | 14,855,000 | 12,300,000 | 12,000,000 | 15,000,000 | 5,560,000 | 8,700,000 | 20,000,000 | 11,771,446 | 1,129,018 | 25,800,000 | 0 | 18,144,000 | 1,896,600 | 2,228,200 | 2,306,100 | 1,722,400 | 2,339,330 | 0 | 19,845,000 | 911,534 | 4,365,000 | 3,990,000 | 43,200,000 | 7,772,000 | 319,180 | 10,806,000 | 59,390,179 | 6,895,000 | 1,546,700 | 583,679 | 2,229,095 | 0 | 6,800,000 | 10,080,000 | 9,435,760 | 23,420,000 | 5,350,000 | 100,000 | 1,597,500 | 14,791,831 | 23,300,000 | 14,100,000 | 19,200,000 | 23,520,000 | 17,900,000 | 27,246,045 | 6,330,000 | 5,928,400 | 20,100,000 | 73,170,045 | 53,164,160 | 22,346,513 | 0 | 6,888,500 | 3,200,000 | 8,125,216 | 10,743,027 | 5,190,700 | 4,120,800 | 27,000,000 | 8,500,000 | 75,800,000 | 9,360,000 | 15,000,000 | 5,527,800 | 10,000,000 | 1,706,900 | 1,683,800 | 20,240,000 | 22,200,000 | 15,400,000 | 0 | 5,900,000 | 3,840,000 | 5,111,200 | 2,838,749 | 4,807,100 | 30,952,393 | 480,600 | 38,400,000 | 40,504,000 | 37,600,000 | 52,654,000 | 102,163,000 | 15,420,000 | 13,700,000 | 3,033,500 | 8,330,000 | 6,246,700 | 18,094,052 | 28,300,000 | 816,922 | 60,900,000 | 35,100,000 | 3,572,400 | 8,640,000 | 22,487,006 | 40,830,011 | 13,500,000 | 32,000,000 | 13,320,000 | 14,700,000 | 13,500,000 | 6,640,000 | 2,272,800 | 26,900,000 | 15,546,376 | 27,383,547 | 10,300,000 | 1,857,400 | 2,458,000 | 3,520,400 | 4,310,417 | 2,089,388 | 5,783,545 | 17,859,785 | 12,118,061 | 6,975,705 | 2,268,160 | 11,809,500 | 42,000,000 | 34,963,355 | 17,136,645 | 118,669,441 | 14,355,000 | 3,325,517 | 2,300,000 | 1,340,702 | 2,012,350 | 4,922,840 | 31,400,000 | 2,800,000 | 1,951,600 | 2,500,000 | 14,641,990 | 26,000,000 | 5,450,295 | 659,165 | 1,815,000 | 663,800 | 6,000,000 | 3,342,381 | 12,000,000 | 18,313,414 | 10,560,000 | 1,781,600 | 16,836,000 | 78,278,200 | 7,503,400 | 68,900,000 | 6,936,600 | 18,200,000 | 5,680,000 | 260,646 | 1,757,438 | 1,424,700 | 16,807,519 | 27,679,638 | 0 | 14,087,610 | 26,767,171 | 6,280,000 | 1,500,000 | 15,568,464 | 103,539,100 | 139,933,500 | 144,968,250 | 12,542,418 | 8,800,000 | 9,403,960 | 15,322,724 | 18,539,817 | 1,665,100 | 4,519,700 | 79,175,802 | 0 | 4,525,800 | 12,448,888 | 5,040,000 | 16,800,000 | 1,418,893 | 3,648,000 | 84,800,000 | 469,546 | 11,726,305 | 11,900,000 | 10,600,000 | 64,900,000 | 34,200,000 | 1,785,000 | 1,955,000 | 3,060,000 | 3,060,000 | 5,100,000 | 1,530,000 | 4,505,000 | 1,616,505 | 2,662,900 | 18,561,000 | 9,729,900 | 498,377 | 6,631,400 | 72,627,418 | 0 | 0 | 4,699,200,739 | 190,600,000 | 9,780,000 | 13,000,000 | 76,921,130 | 21,041,710 | 3,252,993 | 25,000,000 | 5,839,548 | 5,550,000 | 24,310,000 | 26,650,000 | 1,642,000 | 7,000,000 | 12,960,000 | 0 | 3,439,000 | 31,682,754 | 4,377,000 | 0 | 12,600,000 | 12,600,000 | 79,400,000 | 2,781,300 | 2,288,300 | 59,900,000 | 3,397,100 | 5,220,000 | 9,000,000 | 6,863,792 | 14,704,898 | 30,400,340 | 18,300,000 | 5,790,000 | 23,500,000 | 27,600,000 | 1,442,212 | 2,082,095 | 7,801,824 | 48,900,000 | 7,560,000 | 23,500,000 | 6,510,200 | 7,817,000 | 35,200,000 | 7,113,000 | 17,500,000 | 9,209,780 | 16,047,022 | 2,512,500 | 5,425,000 | 10,800,000 | 9,245,000 | 27,900,000 | 2,732,800 | 10,752,145 | 0 | 13,642,420 | 5,977,504 | 16,382,822 | 5,805,000 | 20,880,000 | 13,740,000 | 4,928,500 | 8,540,000 | 10,129,900 | 12,858,693 | 17,200,000 | 12,649,228 | 12,700,000 | 8,160,000 | 0 | 15,800,000 | 4,000,159 | 38,607,000 | 854,133 | 23,400,000 | 14,752,034 | 9,000,000 | 3,573,621 | 10,500,000 | 6,500,000 | 16,345,000 | 15,804,057 | 11,918,917 | 10,369,400 | 2,161,840 | 1,124,217 | 71,900,000 | 0 | 8,900,000 | 3,380,000 | 79,900,000 | 2,481,821 | 8,750,000 | 8,000,000 | 2,629,804 | 12,000,000 | 28,600,000 | 39,410,000 | 2,736,000 | 24,360,000 | 17,492,000 | 56,300,000 | 12,650,000 | 10,590,975 | 10,350,000 | 7,059,230 | 15,550,260 | 34,400,000 | 60,900,000 | 22,898,848 | 8,550,600 | 1,935,536,426 | 796,800 | 76,292,169 | 58,090,357 | 4,869,448 | 6,105,000 | 20,200,000 | 2,490,000 | 5,000,000 | 2,800,000 | 8,000,000 | 4,400,000 | 8,600,000 | 5,055,000 | 202,698,774 | 4,507,100 | 5,425,000 | 7,600,000 | 1,650,237 | 6,945,000 | 5,460,000 | 5,345,000 | 4,550,000 | 3,057,100 | 5,500,000 | 0 | 50,039,437 | ' | 6,887,475,376 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | ' | ' | ' | ' | 912,267 | 83,371,939 | 36,962,409 | 52,402,327 | 44,799,315 | 54,717,426 | 1,823,393 | 4,717,126 | 49,953,808 | 79,732,762 | 115,718,889 | 26,531,893 | 141,471,585 | 43,427,457 | 237,437,069 | 88,177,037 | 18,691,503 | 66,842,854 | 3,280,863 | 32,882,672 | 6,191,085 | 30,463,238 | 90,468,373 | 20,970,736 | 13,593,617 | 32,411,481 | 36,243,236 | 39,776,044 | 36,427,885 | 18,961,348 | 33,412,715 | 55,998,981 | 18,630,270 | 28,351,221 | 165,773,107 | 27,013,014 | 243,609 | 28,864,150 | 42,930,415 | 5,082,581 | 167,901,770 | 3,495,105 | 7,865,304 | 25,121,163 | 792,508 | 93,396,550 | 221,811,808 | 12,775,065 | 107,492,170 | 55,726,701 | 4,063,175 | 2,711,440 | 75,559,583 | 26,531,686 | 10,218,802 | 40,001,147 | 18,579,684 | 21,454,156 | 88,838,140 | 35,754,084 | 37,874,719 | 24,574,459 | 85,926,254 | 44,802,437 | 48,386,116 | 96,766,447 | 29,810,961 | 13,134,008 | 4,089,337 | 24,505,448 | 41,288,377 | 27,365,081 | 23,466,013 | 44,168,477 | 84,679,721 | 73,832,241 | 62,265,227 | 29,501,837 | 35,050,545 | 24,188,293 | 26,130,535 | 67,050,589 | 6,095,393 | 9,406,723 | 79,530,512 | 51,619,667 | 48,666,070 | 23,194,842 | 27,734,193 | 16,967,341 | 18,144,160 | 20,003,667 | 68,592,791 | 74,493,175 | 6,816,487 | 40,273,205 | 38,143,173 | 129,840,707 | 18,236,829 | 16,866,716 | 33,442,628 | 171,322,231 | 19,734,110 | 10,160,400 | 5,049,825 | 19,537,434 | 20,020,708 | 22,263,188 | 38,456,648 | 32,717,946 | 71,608,635 | 43,214,237 | 0 | 19,154,860 | 71,969,127 | 79,548,186 | 27,282,939 | 52,653,904 | 79,708,846 | 29,800,367 | 44,948,971 | 39,995,308 | 44,801,969 | 68,406,364 | 55,142,317 | 263,144,409 | 61,669,319 | 171,323,384 | 24,641,934 | 12,338,411 | 27,647,267 | 6,214,141 | 13,028,804 | 42,967,946 | 33,502,676 | 53,854,798 | 104,202,876 | 22,748,158 | 33,386,974 | 24,543,297 | 20,718,344 | 19,403,530 | 19,243,950 | 23,931,806 | 29,036,834 | 35,799,414 | 122,151,743 | 25,609,250 | 17,491,256 | 14,346,430 | 29,538,383 | 18,499,698 | 3,124,964 | 5,905,297 | 109,724,807 | 22,854,181 | 15,619,652 | 30,665,520 | 115,945,921 | 37,294,201 | 59,554,190 | 34,633,068 | 31,724,983 | 15,661,266 | 83,921,708 | 79,533,507 | 6,499,371 | 90,493,402 | 41,485,726 | 18,013,086 | 24,133,909 | 115,278,746 | 2,683,265 | 69,654,517 | 65,401,626 | 36,906,656 | 37,596,558 | 36,391,137 | 31,748,960 | 26,237,416 | 85,124,057 | 65,824,388 | 101,153,985 | 34,008,246 | 21,960,412 | 4,647,946 | 29,938,122 | 17,229,371 | 16,339,822 | 40,229,146 | 83,708,925 | 19,127,918 | 46,399,447 | 15,131,024 | 38,291,890 | 7,574,181 | 85,830,628 | 41,482,470 | 103,004,123 | 81,023,971 | 25,600,753 | 9,753,370 | 12,861,713 | 18,823,837 | 30,578,199 | 109,795,609 | 30,620,065 | 23,988,782 | 12,588,620 | 43,138,907 | 28,884,628 | 41,922,499 | 21,330,482 | 10,436,689 | 9,537,109 | 23,842,170 | 44,226,015 | 24,942,737 | 64,135,860 | 27,813,529 | 18,646,576 | 39,260,309 | 122,079,564 | 25,946,124 | 80,654,364 | 17,316,259 | 0 | 24,104,036 | 0 | 15,045,919 | 17,100,060 | 6,589,411 | 21,699,903 | 58,878,697 | 16,916,624 | 221,538,596 | 33,413,774 | 3,896 | 55,523,040 | 97,215,119 | 199,702,558 | 145,952,357 | 64,979,196 | 22,582,317 | 195,519,770 | 76,231,616 | 131,247,821 | 23,823,143 | 46,048,415 | 7,944,921 | 87,213,946 | 55,969,147 | 54,514,193 | 31,684,374 | 34,382,963 | 10,667,361 | 23,392,764 | 68,381,258 | 163,783,925 | 6,992,695 | 90,359,524 | 44,529,941 | 62,004,453 | 57,794,531 | 3,539,167 | 3,735,677 | 5,827,673 | 5,836,639 | 9,734,819 | 3,298,100 | 11,245,506 | 12,906,156 | 32,171,770 | 52,114,977 | 29,388,806 | 4,494,278 | 19,962,920 | 64,566,766 | 97,861,963 | 680,439 | 12,687,701,095 | 133,662,637 | 90,138,120 | 76,304,331 | 160,751,867 | 76,202,184 | 26,996,711 | 30,513,215 | 29,697,380 | 15,944,767 | 62,064,021 | 63,546,941 | 9,267,329 | 21,514,514 | 19,746,070 | 115,190,070 | 13,982,323 | 123,661,415 | 16,327,283 | 72,740,141 | 34,764,632 | 43,925,932 | 80,174,427 | 47,813,834 | 30,952,486 | 157,042,644 | 10,995,080 | 18,305,801 | 17,117,622 | 37,130,943 | 87,362,407 | 105,579,280 | 66,997,738 | 29,367,890 | 53,984,644 | 115,031,971 | 17,855,998 | 32,528,792 | 39,981,715 | 97,147,192 | 53,834,396 | 88,368,036 | 45,885,839 | 26,661,777 | 109,690,617 | 25,832,466 | 74,714,992 | 35,475,682 | 48,872,206 | 30,002,571 | 21,319,951 | 32,718,098 | 28,562,068 | 170,169,317 | 14,568,126 | 34,813,897 | 41,866,523 | 33,802,268 | 29,508,197 | 84,675,594 | 26,304,231 | 93,429,716 | 41,641,887 | 55,885,133 | 12,625,038 | 59,996,084 | 60,896,729 | 53,510,561 | 37,529,648 | 47,186,638 | 36,546,600 | 59,899,400 | 47,660,489 | 96,669,889 | 87,794,526 | 16,725,338 | 64,478,165 | 77,287,149 | 14,104,536 | 19,775,166 | 56,447,221 | 35,910,212 | 75,003,351 | 67,186,556 | 74,096,270 | 43,326,193 | 14,506,780 | 9,528,045 | 214,034,273 | 124,781,541 | 29,668,542 | 24,084,586 | 179,914,554 | 21,554,635 | 36,064,483 | 29,852,346 | 29,923,363 | 53,884,527 | 64,172,487 | 58,353,174 | 7,980,463 | 89,031,538 | 103,958,165 | 143,519,447 | 38,635,666 | 44,700,647 | 35,694,508 | 48,044,936 | 70,093,144 | 111,071,882 | 48,906,924 | 133,831,677 | 20,967,073 | 6,462,331,100 | 13,343,312 | 96,230,632 | 38,681,373 | 13,934,315 | 33,039,770 | 281,641 | 21,826,438 | 0 | 13,809,469 | 39,445,363 | 13,345,635 | 44,701,940 | 41,973,898 | 370,613,786 | 16,862,386 | 25,147,881 | 36,491,632 | 21,581,691 | 28,368,269 | 18,109,103 | 24,858,240 | 22,158,058 | 10,157,622 | 16,875,812 | 172,216,349 | 392,827,043 | ' | 19,913,473,024 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | ' | ' | ' | ' | 16,512,267 | 102,309,641 | 46,175,921 | 107,040,625 | 44,799,315 | 76,755,257 | 7,688,628 | 26,823,590 | 61,275,006 | 101,632,762 | 145,725,482 | 65,808,893 | 169,621,585 | 76,279,457 | 265,545,968 | 110,788,637 | 23,940,627 | 132,195,560 | 45,648,034 | 40,669,472 | 6,744,190 | 47,163,238 | 109,368,373 | 30,028,036 | 18,279,517 | 37,911,481 | 44,243,636 | 42,370,308 | 40,236,708 | 26,956,348 | 66,267,830 | 61,480,537 | 25,620,270 | 35,951,221 | 280,124,512 | 32,699,875 | 306,767 | 37,962,958 | 58,030,415 | 18,991,491 | 274,001,770 | 3,896,196 | 8,794,276 | 35,112,663 | 1,893,072 | 125,796,550 | 261,911,730 | 16,375,465 | 138,692,170 | 65,726,701 | 16,261,453 | 14,264,726 | 85,259,583 | 32,147,686 | 12,038,802 | 44,804,247 | 25,195,151 | 24,455,856 | 88,838,140 | 48,354,084 | 52,674,719 | 34,181,059 | 118,226,254 | 56,812,067 | 65,586,116 | 137,166,447 | 36,810,961 | 14,743,808 | 4,587,417 | 29,247,648 | 56,388,377 | 40,865,081 | 25,274,913 | 57,261,029 | 110,579,721 | 88,687,241 | 74,565,227 | 41,501,837 | 50,050,545 | 29,748,293 | 34,830,535 | 87,050,589 | 17,866,839 | 10,535,741 | 105,330,512 | 51,619,667 | 66,810,070 | 25,091,442 | 29,962,393 | 19,273,441 | 19,866,560 | 22,342,997 | 68,592,791 | 94,338,175 | 7,728,021 | 44,638,205 | 42,133,173 | 173,040,707 | 26,008,829 | 17,185,896 | 44,248,628 | 230,712,410 | 26,629,110 | 11,707,100 | 5,633,504 | 21,766,529 | 20,020,708 | 29,063,188 | 48,536,648 | 42,153,706 | 95,028,635 | 48,564,237 | 100,000 | 20,752,360 | 86,760,958 | 102,848,186 | 41,382,939 | 71,853,904 | 103,228,846 | 47,700,367 | 72,195,016 | 46,325,308 | 50,730,369 | 88,506,364 | 128,312,362 | 316,308,569 | 84,015,832 | 171,323,384 | 31,530,434 | 15,538,411 | 35,772,483 | 16,957,168 | 18,219,504 | 47,088,746 | 60,502,676 | 62,354,798 | 180,002,876 | 32,108,158 | 48,386,974 | 30,071,097 | 30,718,344 | 21,110,430 | 20,927,750 | 44,171,806 | 51,236,834 | 51,199,414 | 122,151,743 | 31,509,250 | 21,331,256 | 19,457,630 | 32,377,132 | 23,306,798 | 34,077,357 | 6,385,897 | 148,124,807 | 63,358,181 | 53,219,652 | 83,319,520 | 218,108,921 | 52,714,201 | 73,254,190 | 37,666,568 | 40,054,983 | 21,907,966 | 102,015,760 | 107,833,507 | 7,316,293 | 151,393,402 | 76,585,726 | 21,585,486 | 32,773,909 | 137,765,752 | 43,513,276 | 83,154,517 | 97,401,626 | 50,226,656 | 52,296,558 | 49,891,137 | 38,388,960 | 28,510,216 | 112,024,057 | 81,370,764 | 128,537,532 | 44,308,246 | 23,817,812 | 7,105,946 | 33,458,522 | 21,539,788 | 18,429,210 | 46,012,691 | 101,568,710 | 31,245,979 | 53,375,152 | 17,399,184 | 50,101,390 | 49,574,181 | 120,793,983 | 58,619,115 | 221,673,564 | 95,378,971 | 28,926,270 | 12,053,370 | 14,202,415 | 20,836,187 | 35,501,039 | 141,195,609 | 33,420,065 | 25,940,382 | 15,088,620 | 57,780,897 | 54,884,628 | 47,372,794 | 21,989,647 | 12,251,689 | 10,200,909 | 29,842,170 | 47,568,396 | 36,942,737 | 82,449,274 | 38,373,529 | 20,428,176 | 56,096,309 | 200,357,764 | 33,449,524 | 149,554,364 | 24,252,859 | 18,200,000 | 29,784,036 | 260,646 | 16,803,357 | 18,524,760 | 23,396,930 | 49,379,541 | 58,878,697 | 31,004,234 | 248,305,767 | 39,693,774 | 1,503,896 | 71,091,504 | 200,754,219 | 339,636,058 | 290,920,607 | 77,521,614 | 31,382,317 | 204,923,730 | 91,554,340 | 149,787,638 | 25,488,243 | 50,568,115 | 87,120,723 | 87,213,946 | 60,494,947 | 66,963,081 | 36,724,374 | 51,182,963 | 12,086,254 | 27,040,764 | 153,181,258 | 164,253,471 | 18,719,000 | 102,259,524 | 55,129,941 | 126,904,453 | 91,994,531 | 5,324,167 | 5,690,677 | 8,887,673 | 8,896,639 | 14,834,819 | 4,828,100 | 15,750,506 | 14,522,661 | 34,834,670 | 70,675,977 | 39,118,706 | 4,992,655 | 26,594,320 | 137,194,184 | 97,861,963 | 680,439 | 17,386,901,834 | 324,262,637 | 99,918,120 | 89,304,331 | 237,672,997 | 97,243,894 | 30,249,704 | 55,513,215 | 35,536,928 | 21,494,767 | 86,374,021 | 90,196,941 | 10,909,329 | 28,514,514 | 32,706,070 | 115,190,070 | 17,421,323 | 155,344,169 | 20,704,283 | 72,740,141 | 47,364,632 | 56,525,932 | 159,574,427 | 50,595,134 | 33,240,786 | 216,942,644 | 14,392,180 | 23,525,801 | 26,117,622 | 43,994,735 | 102,067,305 | 135,979,620 | 85,297,738 | 35,157,890 | 77,484,644 | 142,631,971 | 19,298,210 | 34,610,887 | 47,783,539 | 146,047,192 | 61,394,396 | 111,868,036 | 52,396,039 | 34,478,777 | 144,890,617 | 32,945,466 | 92,214,992 | 44,685,462 | 64,919,228 | 32,515,071 | 26,744,951 | 43,518,098 | 37,807,068 | 198,069,317 | 17,300,926 | 45,566,042 | 41,866,523 | 47,444,688 | 35,485,701 | 101,058,416 | 32,109,231 | 114,309,716 | 55,381,887 | 60,813,633 | 21,165,038 | 70,125,984 | 73,755,422 | 70,710,561 | 50,178,876 | 59,886,638 | 44,706,600 | 59,899,400 | 63,460,489 | 100,670,048 | 126,401,526 | 17,579,471 | 87,878,165 | 92,039,183 | 23,104,536 | 23,348,787 | 66,947,221 | 42,410,212 | 91,348,351 | 82,990,613 | 86,015,187 | 53,695,593 | 16,668,620 | 10,652,262 | 285,934,273 | 124,781,541 | 38,568,542 | 27,464,586 | 259,814,554 | 24,036,456 | 44,814,483 | 37,852,346 | 32,553,167 | 65,884,527 | 92,772,487 | 97,763,174 | 10,716,463 | 113,391,538 | 121,450,165 | 199,819,447 | 51,285,666 | 55,291,622 | 46,044,508 | 55,104,166 | 85,643,404 | 145,471,882 | 109,806,924 | 156,730,525 | 29,517,673 | 8,397,867,526 | 14,140,112 | 172,522,801 | 96,771,730 | 18,803,763 | 39,144,770 | 20,481,641 | 24,316,438 | 5,000,000 | 16,609,469 | 47,445,363 | 17,745,635 | 53,301,940 | 47,028,898 | 573,312,560 | 21,369,486 | 30,572,881 | 44,091,632 | 23,231,928 | 35,313,269 | 23,569,103 | 30,203,240 | 26,708,058 | 13,214,722 | 22,375,812 | 172,216,349 | 442,866,480 | ' | 26,800,948,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Accumulated Depreciation | -4,807,709,000 | -4,912,221,000 | -4,539,583,000 | -4,337,357,000 | 0 | 0 | -11,445,278 | -11,057,165 | 0 | -6,257,548 | 0 | 0 | -2,490,905 | -5,494,624 | -33,461,838 | -9,519,405 | -23,372,279 | -13,659,850 | -33,100,960 | -28,276,895 | -1,887,319 | -16,931,741 | 0 | -3,123,822 | -3,841,681 | -2,804,190 | -6,685,386 | -11,579,687 | -7,595,468 | -11,965,280 | -4,986,340 | -23,448,187 | -20,581,844 | -2,387,293 | 0 | -19,343,578 | -8,520,785 | -10,003,163 | -17,146,544 | -10,029,556 | 0 | -3,227,931 | -2,840,690 | 0 | -13,060,243 | -1,738,035 | -4,017,041 | -12,928,298 | 0 | -6,989,848 | -23,147,254 | -6,711,041 | -7,705,656 | -21,654,122 | 0 | 0 | -24,644,073 | -12,919,164 | -4,327,441 | -22,917,727 | -6,566,783 | -11,971,663 | -7,919,119 | -13,936,676 | -13,512,371 | -12,799,939 | -6,736,216 | -10,871,421 | -3,700,423 | -7,012,730 | -11,172,993 | -7,965,913 | -2,124,869 | -14,569,786 | -3,080,440 | -2,700,714 | -14,038,267 | -5,082,748 | -6,337,254 | -44,668,129 | -4,686,215 | -2,385,500 | -12,392,429 | -10,417,597 | -3,889,921 | -22,638,702 | 0 | -4,655,719 | -5,413,886 | -18,748,222 | -14,889,140 | -13,330,823 | -16,357,389 | -9,870,573 | -10,311,127 | -10,599,550 | -4,938,308 | -20,664,462 | -3,383,217 | -11,821,792 | -11,411,269 | -10,178,767 | -4,434,046 | -11,895,336 | -11,716,751 | -53,500,328 | -7,407,674 | -6,263,951 | -2,437,167 | -9,457,763 | -5,078,255 | -7,214,459 | -11,862,100 | -4,101,964 | -23,456,649 | -15,065,373 | 0 | -13,271,353 | 0 | -5,491,559 | -8,366,151 | -18,372,874 | -25,931,634 | -11,826,369 | -21,242,906 | -14,087,855 | -25,653,015 | -4,729,574 | -14,874,367 | -131,267,364 | -4,731,391 | -14,625,920 | -14,418,836 | -4,098,923 | -2,394,637 | 0 | -7,779,026 | -9,970,232 | -3,080,868 | -14,841,048 | -10,741,983 | -10,747,805 | -15,031,335 | -13,695,958 | -9,644,381 | -11,981,703 | -11,943,140 | -8,672,588 | -1,901,519 | -2,172,022 | -8,733,929 | -2,359,051 | 0 | -8,131,799 | -16,842,336 | -11,043,147 | 0 | -3,964,230 | -36,189,802 | -8,404,862 | -7,133,172 | -11,481,750 | -31,853,462 | -13,204,540 | -3,914,535 | -21,889,796 | -14,820,148 | -9,486,679 | -12,457,511 | -6,012,255 | -3,280,138 | -7,145,468 | -16,371,788 | -9,926,077 | -11,529,488 | -61,617,346 | 0 | -24,599,996 | -19,038,929 | -16,970,116 | -14,095,067 | -13,530,181 | -14,987,283 | -16,670,485 | -6,865,171 | -6,551,308 | -14,269,702 | -2,592,517 | -14,160,070 | -1,193,952 | -17,387,775 | -2,513,872 | 0 | -7,182,488 | 0 | 0 | -9,881,175 | -3,207,605 | -18,480,854 | 0 | -6,684,339 | -3,089,614 | -24,034,599 | -8,357,613 | -12,625,301 | -5,182,720 | -7,180,118 | -9,832,847 | -3,928,769 | -7,664,303 | -16,048,657 | -14,670,174 | -4,281,852 | -6,186,384 | -3,138,534 | -15,725,082 | -1,512,605 | -6,175,785 | -5,910,718 | -9,008,244 | -27,676,964 | -8,564,889 | -30,116,438 | -13,059,276 | -10,171,464 | -6,410,921 | -49,094,497 | -14,258,820 | -7,124,507 | -9,441,621 | 0 | -10,414,453 | 0 | -7,782,721 | -9,836,580 | 0 | 0 | -3,920,806 | -2,524,529 | -39,901,393 | -11,379,630 | 0 | -10,475,335 | -30,036,069 | -59,965,660 | -45,759,852 | 0 | -7,993,609 | -28,370,366 | -4,774,971 | -20,852,761 | -15,391,905 | -26,558,906 | 0 | -5,921,143 | -37,059,350 | -7,696,848 | -12,866,707 | -2,762,709 | -5,110,126 | -12,645,731 | -8,307,241 | -33,407,167 | 0 | -5,417,460 | -3,504,357 | -6,001,580 | -4,346,093 | -1,688,575 | -1,714,567 | -2,668,163 | -2,674,400 | -4,470,041 | -1,547,728 | -4,563,900 | -6,122,453 | -20,278,246 | -16,723,548 | -16,514,665 | -2,242,801 | -11,285,522 | -18,860,924 | -74,865,128 | 0 | -3,177,396,618 | -15,552,330 | -18,835,680 | -5,005,664 | -17,490,985 | -6,417,972 | -12,478,794 | -12,789,197 | -5,125,356 | -4,558,047 | -29,612,754 | -9,829,040 | -2,421,777 | -8,466,816 | -6,504,421 | -8,460,359 | -3,775,179 | -36,751,609 | -4,544,908 | -5,675,272 | -2,310,263 | -3,478,526 | -8,175,241 | -31,347,905 | -21,171,170 | -11,425,444 | -5,903,575 | -6,372,695 | -1,246,430 | -7,526,423 | -13,768,517 | -14,363,043 | -4,962,013 | -9,575,767 | -4,430,068 | -8,350,350 | -9,313,767 | -22,264,629 | -8,503,934 | -7,978,821 | -18,061,981 | -6,417,469 | -25,583,560 | -7,380,682 | -7,612,197 | -7,139,073 | -4,245,768 | -15,740,054 | -5,955,017 | -19,468,132 | -6,240,631 | -10,781,687 | -8,710,641 | -10,444,060 | -5,337,998 | -7,190,325 | -11,499,213 | -13,238,970 | -11,871,567 | -14,112,008 | -4,053,076 | -28,207,183 | -12,253,028 | -31,863,973 | -4,042,522 | -8,339,616 | -23,694,689 | -17,652,020 | -6,097,337 | -17,013,895 | -18,654,006 | -11,320,611 | -15,794,393 | -32,540,349 | -16,582,733 | -10,918,229 | -24,819,377 | -27,657,976 | -1,450,445 | -7,384,385 | -20,344,998 | -13,939,522 | -23,271,791 | -27,294,907 | -26,089,157 | -15,561,433 | -3,061,770 | -4,830,794 | -14,976,876 | -8,966,799 | -14,937,859 | -12,416,719 | -13,042,186 | -11,230,606 | -12,690,883 | -11,944,034 | -17,328,409 | -23,842,054 | -20,981,272 | -28,234,404 | -2,276,033 | -28,837,370 | -35,022,638 | -11,899,235 | -15,459,664 | -8,870,160 | -10,004,367 | -14,167,823 | -13,517,115 | -8,181,264 | -5,718,712 | -13,887,631 | -10,546,255 | -1,457,510,357 | -9,199,580 | 0 | 0 | -8,130,970 | -14,454,678 | 0 | -10,802,571 | 0 | -4,616,186 | 0 | -4,432,500 | -3,355,103 | -14,964,187 | -69,955,775 | -9,678,161 | -11,655,149 | -2,384,136 | -12,232,711 | -12,461,380 | -9,071,317 | -10,916,753 | -9,848,801 | -5,582,575 | -5,932,912 | -13,082,677 | -102,846,572 | 0 | -4,807,709,322 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Investment in Real Estate Net | ' | ' | ' | ' | 16,512,267 | 102,309,641 | 34,730,643 | 95,983,460 | 44,799,315 | 70,497,709 | 7,688,628 | 26,823,590 | 58,784,101 | 96,138,138 | 112,263,644 | 56,289,488 | 146,249,306 | 62,619,607 | 232,445,008 | 82,511,742 | 22,053,308 | 115,263,819 | 45,648,034 | 37,545,650 | 2,902,509 | 44,359,048 | 102,682,987 | 18,448,349 | 10,684,049 | 25,946,201 | 39,257,296 | 18,922,121 | 19,654,864 | 24,569,055 | 66,267,830 | 42,136,959 | 17,099,485 | 25,948,058 | 262,977,968 | 22,670,319 | 306,767 | 34,735,027 | 55,189,725 | 18,991,491 | 260,941,527 | 2,158,161 | 4,777,235 | 22,184,365 | 1,893,072 | 118,806,702 | 238,764,476 | 9,664,424 | 130,986,514 | 44,072,579 | 16,261,453 | 14,264,726 | 60,615,510 | 19,228,522 | 7,711,361 | 21,886,520 | 18,628,368 | 12,484,193 | 80,919,021 | 34,417,408 | 39,162,348 | 21,381,120 | 111,490,038 | 45,940,646 | 61,885,693 | 130,153,717 | 25,637,968 | 6,777,895 | 2,462,548 | 14,677,862 | 53,307,937 | 38,164,367 | 11,236,646 | 52,178,281 | 104,242,467 | 44,019,112 | 69,879,012 | 39,116,337 | 37,658,116 | 19,330,696 | 30,940,614 | 64,411,887 | 17,866,839 | 5,880,022 | 99,916,626 | 32,871,445 | 51,920,930 | 11,760,619 | 13,605,004 | 9,402,868 | 9,555,433 | 11,743,447 | 63,654,483 | 73,673,713 | 4,344,804 | 32,816,413 | 30,721,904 | 162,861,940 | 21,574,783 | 5,290,560 | 32,531,877 | 177,212,082 | 19,221,436 | 5,443,149 | 3,196,337 | 12,308,766 | 14,942,453 | 21,848,729 | 36,674,548 | 38,051,742 | 71,571,986 | 33,498,864 | 100,000 | 7,481,007 | 86,760,958 | 97,356,627 | 33,016,788 | 53,481,030 | 77,297,212 | 35,873,998 | 50,952,110 | 32,237,453 | 25,077,354 | 83,776,790 | 113,437,995 | 185,041,205 | 79,284,441 | 156,697,464 | 17,111,598 | 11,439,488 | 33,377,846 | 16,957,168 | 10,440,478 | 37,118,514 | 57,421,808 | 47,513,750 | 169,260,893 | 21,360,353 | 33,355,639 | 16,375,139 | 21,073,963 | 9,128,727 | 8,984,610 | 35,499,218 | 49,335,315 | 49,027,392 | 113,417,814 | 29,150,199 | 21,331,256 | 11,325,831 | 15,534,796 | 12,263,651 | 34,077,357 | 2,421,667 | 111,935,005 | 54,953,319 | 46,086,480 | 71,837,770 | 186,255,459 | 39,509,661 | 69,339,655 | 15,776,772 | 25,234,835 | 12,421,287 | 89,558,249 | 101,821,252 | 4,036,155 | 144,247,934 | 60,213,938 | 11,659,409 | 21,244,421 | 76,148,406 | 43,513,276 | 58,554,521 | 78,362,697 | 33,256,540 | 38,201,491 | 36,360,956 | 23,401,677 | 11,839,731 | 105,158,886 | 74,819,456 | 114,267,830 | 41,715,729 | 9,657,742 | 5,911,994 | 16,070,747 | 19,025,916 | 18,429,210 | 38,830,203 | 101,568,710 | 31,245,979 | 43,493,977 | 14,191,579 | 31,620,536 | 49,574,181 | 114,109,644 | 55,529,501 | 197,638,965 | 87,021,358 | 16,300,969 | 6,870,650 | 7,022,297 | 11,003,340 | 31,572,270 | 133,531,306 | 17,371,408 | 11,270,208 | 10,806,768 | 51,594,513 | 51,746,094 | 31,647,712 | 20,477,042 | 6,075,904 | 4,290,191 | 20,833,926 | 19,891,432 | 28,377,848 | 52,332,836 | 25,314,253 | 10,256,712 | 49,685,388 | 151,263,267 | 19,190,704 | 142,429,857 | 14,811,238 | 18,200,000 | 19,369,583 | 260,646 | 9,020,636 | 8,688,180 | 23,396,930 | 49,379,541 | 54,957,891 | 28,479,705 | 208,404,374 | 28,314,144 | 1,503,896 | 60,616,169 | 170,718,150 | 279,670,398 | 245,160,755 | 77,521,614 | 23,388,708 | 176,553,364 | 86,779,369 | 128,934,877 | 10,096,338 | 24,009,209 | 87,120,723 | 81,292,803 | 23,435,597 | 59,266,233 | 23,857,667 | 48,420,254 | 6,976,128 | 14,395,033 | 144,874,017 | 130,846,304 | 18,719,000 | 96,842,064 | 51,625,584 | 120,902,873 | 87,648,438 | 3,635,592 | 3,976,110 | 6,219,510 | 6,222,239 | 10,364,778 | 3,280,372 | 11,186,606 | 8,400,208 | 14,556,424 | 53,952,429 | 22,604,041 | 2,749,854 | 15,308,798 | 118,333,260 | 22,996,835 | 680,439 | 14,209,505,216 | 308,710,307 | 81,082,440 | 84,298,667 | 220,182,012 | 90,825,922 | 17,770,910 | 42,724,018 | 30,411,572 | 16,936,720 | 56,761,267 | 80,367,901 | 8,487,552 | 20,047,698 | 26,201,649 | 106,729,711 | 13,646,144 | 118,592,560 | 16,159,375 | 67,064,869 | 45,054,369 | 53,047,406 | 151,399,186 | 19,247,229 | 12,069,616 | 205,517,200 | 8,488,605 | 17,153,106 | 24,871,192 | 36,468,312 | 88,298,788 | 121,616,577 | 80,335,725 | 25,582,123 | 73,054,576 | 134,281,621 | 9,984,443 | 12,346,258 | 39,279,605 | 138,068,371 | 43,332,415 | 105,450,567 | 26,812,479 | 27,098,095 | 137,278,420 | 25,806,393 | 87,969,224 | 28,945,408 | 58,964,211 | 13,046,939 | 20,504,320 | 32,736,411 | 29,096,427 | 187,625,257 | 11,962,928 | 38,375,717 | 30,367,310 | 34,205,718 | 23,614,134 | 86,946,408 | 28,056,155 | 86,102,533 | 43,128,859 | 28,949,660 | 17,122,516 | 61,786,368 | 50,060,733 | 53,058,541 | 44,081,539 | 42,872,743 | 26,052,594 | 48,578,789 | 47,666,096 | 68,129,699 | 109,818,793 | 6,661,242 | 63,058,788 | 64,381,207 | 21,654,091 | 15,964,402 | 46,602,223 | 28,470,690 | 68,076,560 | 55,695,706 | 59,926,030 | 38,134,160 | 13,606,850 | 5,821,468 | 270,957,397 | 115,814,742 | 23,630,683 | 15,047,867 | 246,772,368 | 12,805,850 | 32,123,600 | 25,908,312 | 15,224,758 | 42,042,473 | 71,791,215 | 69,528,770 | 8,440,430 | 84,554,168 | 86,427,527 | 187,920,212 | 35,826,002 | 46,421,462 | 36,040,141 | 40,936,343 | 72,126,289 | 137,290,618 | 104,088,212 | 142,842,894 | 18,971,418 | 6,940,357,169 | 4,940,532 | 172,522,801 | 96,771,730 | 10,672,793 | 24,690,092 | 20,481,641 | 13,513,867 | 5,000,000 | 11,993,283 | 47,445,363 | 13,313,135 | 49,946,837 | 32,064,711 | 503,356,785 | 11,691,325 | 18,917,732 | 41,707,496 | 10,999,217 | 22,851,889 | 14,497,786 | 19,286,487 | 16,859,257 | 7,632,147 | 16,442,900 | 159,133,672 | 340,019,908 | 0 | 21,993,239,078 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' (L) | [1] | ' | ' | ' | ' | ' | ' | ' (I) | [1] | ' (J) | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' (L) | [1] | ' (L) | [1] | ' (L) | [1] | ' | ' (J) | [1] | ' | ' | ' | ' (L) | [1] | ' | ' | ' | ' (L) | [1] | ' (J) | [1] | ' (L) | [1] | ' (K) | [1] | ' (J) | [1] | ' (J) | [1] | ' | ' | ' (I) | [1] | ' (L) | [1] | ' | ' | ' (L) | [1] | ' | ' | ' | ' | ' | ' | ' | ' (J) | [1] | ' (K) | [1] | ' | ' | ' | ' (J) | [1] | ' | ' | ' | ' | ' (J) | [1] | ' | ' | ' (J) | [1] | ' | ' (M) | [1] | ' (N) | [1] | ' | ' (J) | [1] | ' | ' (J) | [1] | ' (I) | [1] | ' | ' | ' | ' | ' (L) | [1] | ' (I) | [1] | ' (J) | [1] | ' (J) | [1] | ' (I) | [1] | ' | ' | ' | ' | ' | ' (L) | [1] | ' (L) | [1] | ' | ' | ' (L) | [1] | ' | ' (I) | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' (K) | [1] | ' | ' | ' (J) | [1] | ' | ' | ' (K) | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' (K) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Encumbrances | ' | ' | ' | ' | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $103,482,569 | $57,428,472 | ' | $101,492,308 | $29,964,633 | $2,135,579 | $20,000,000 | $20,122,719 | $9,920,000 | ' | ' | $3,200,000 | $22,779,715 | $18,169,458 | $95,993,276 | $8,585,000 | $58,055,099 | $8,290,000 | $27,000,000 | ' | ' | ' | $31,680,000 | ' | $75,818,310 | $9,270,000 | $12,000,000 | ' | $22,016,556 | $24,709,587 | $43,026,348 | ' | ' | ' | ' | ' | ' | $23,789,381 | $58,822,321 | ' | ' | $34,595,000 | $16,215,000 | ' | $14,630,000 | $99,939,735 | $14,970,000 | $31,789,016 | $46,517,800 | $28,180,585 | $27,235,117 | ' | ' | $8,020,000 | $26,495,000 | $25,175,000 | ' | $24,980,280 | $47,439,130 | $21,088,981 | $60,073,423 | ' | $19,195,000 | $22,843,410 | ' | $69,312,259 | ' | ' | $39,539,109 | ' | $43,807,598 | ' | ' | $64,865,644 | $9,600,000 | $38,268,889 | $49,875,780 | ' | ' | ' | ' | ' | $84,778,876 | $66,470,000 | $29,160,000 | $9,889,090 | $927,712 | ' | ' | $38,440,808 | $30,889,928 | ' | $3,092,625 | ' | $13,886,034 | $38,039,912 | $35,000,000 | $41,956,105 | $71,243,194 | $5,050,000 | $77,353,222 | $99,190,116 | ' | $30,372,953 | $29,826,475 | ' | $33,000,000 | $31,380,000 | ' | $46,390,558 | $96,935,000 | $17,858,854 | $2,703,534,549 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $16,538,000 | $28,200,000 | ' | $17,700,000 | $36,455,000 | $17,400,000 | $28,870,000 | $26,175,000 | $9,829,000 | $9,900,000 | $143,605,310 | $334,672,310 | $2,135,958,561 | $5,174,165,420 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment, Estimated Useful Lives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 | '5 | '15 | '5 | '10 | '3 | '7 | |||||||||||||||||||||||||||||||||||||||
Partially Owned Unconsolidated Properties | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Number Of Unconsolidated Projects | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Partially Owned Unconsolidated Units | 1,669 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,669 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Military Housing Properties | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Military Housing Units | 5,113 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
[1] | (I)through (L)B See Encumbrances Reconciliation schedule. |