Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 20, 2015 | Jun. 30, 2014 | |
Entity Registrant Name | EQUITY RESIDENTIAL | ||
Entity Central Index Key | 906107 | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Amendment Flag | FALSE | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | -19 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $22,300,000,000 | ||
Entity Common Stock, Shares Outstanding | 363,798,297 | ||
OPERATING PARTNERSHIP | |||
Entity Registrant Name | ERP OPERATING LIMITED PARTNERSHIP | ||
Entity Central Index Key | 931182 | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Amendment Flag | FALSE | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | -19 | ||
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, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investment in real estate | ||
Land | $6,295,404 | $6,192,512 |
Depreciable property | 19,851,504 | 19,226,047 |
Projects under development | 1,343,919 | 988,867 |
Land held for development | 184,556 | 393,522 |
Investment in real estate | 27,675,383 | 26,800,948 |
Accumulated depreciation | -5,432,805 | -4,807,709 |
Investment in real estate, net | 22,242,578 | 21,993,239 |
Cash and cash equivalents | 40,080 | 53,534 |
Investments in unconsolidated entities | 105,434 | 178,526 |
Deposits - restricted | 72,303 | 103,567 |
Escrow deposits - mortgage | 48,085 | 42,636 |
Deferred financing costs, net | 58,380 | 58,486 |
Other assets | 383,754 | 404,557 |
Total assets | 22,950,614 | 22,834,545 |
Liabilities: | ||
Mortgage notes payable | 5,086,515 | 5,174,166 |
Notes, net | 5,425,346 | 5,477,088 |
Lines of credit | 333,000 | 115,000 |
Accounts payable and accrued expenses | 153,590 | 118,791 |
Accrued interest payable | 89,540 | 78,309 |
Other liabilities | 389,915 | 347,748 |
Security deposits | 75,633 | 71,592 |
Distributions payable | 188,566 | 243,511 |
Total liabilities | 11,742,105 | 11,626,205 |
Redeemable Noncontrolling Interests - Operating Partnership | 500,733 | 363,144 |
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, 2014 and December 31, 2013 | 50,000 | 50,000 |
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 362,855,454 shares issued and outstanding as of December 31, 2014 and 360,479,260 shares issued and outstanding as of December 31, 2013 | 3,629 | 3,605 |
Paid in capital | 8,536,340 | 8,561,500 |
Retained earnings | 1,950,639 | 2,047,258 |
Accumulated other comprehensive (loss) | -172,152 | -155,162 |
Total shareholders' equity | 10,368,456 | 10,507,201 |
Noncontrolling Interests: | ||
Operating Partnership | 214,411 | 211,412 |
Partially Owned Properties | 124,909 | 126,583 |
Total Noncontrolling Interests | 339,320 | 337,995 |
Total equity | 10,707,776 | 10,845,196 |
Total liabilities and equity | $22,950,614 | $22,834,545 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
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 | 362,855,454 | 360,479,260 |
Common Shares of beneficial interest, shares outstanding | 362,855,454 | 360,479,260 |
CONSOLIDATED_BALANCE_SHEETS_OF
CONSOLIDATED BALANCE SHEETS OF ERP OPERATING LIMITED PARTNERSHIP (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investment in real estate | ||
Land | $6,295,404 | $6,192,512 |
Depreciable property | 19,851,504 | 19,226,047 |
Projects under development | 1,343,919 | 988,867 |
Land held for development | 184,556 | 393,522 |
Investment in real estate | 27,675,383 | 26,800,948 |
Accumulated depreciation | -5,432,805 | -4,807,709 |
Investment in real estate, net | 22,242,578 | 21,993,239 |
Cash and cash equivalents | 40,080 | 53,534 |
Investments in unconsolidated entities | 105,434 | 178,526 |
Deposits - restricted | 72,303 | 103,567 |
Escrow deposits - mortgage | 48,085 | 42,636 |
Deferred financing costs, net | 58,380 | 58,486 |
Other assets | 383,754 | 404,557 |
Total assets | 22,950,614 | 22,834,545 |
Liabilities: | ||
Mortgage notes payable | 5,086,515 | 5,174,166 |
Notes, net | 5,425,346 | 5,477,088 |
Lines of credit | 333,000 | 115,000 |
Accounts payable and accrued expenses | 153,590 | 118,791 |
Accrued interest payable | 89,540 | 78,309 |
Other liabilities | 389,915 | 347,748 |
Security deposits | 75,633 | 71,592 |
Distributions payable | 188,566 | 243,511 |
Total liabilities | 11,742,105 | 11,626,205 |
Partners' Capital: | ||
Accumulated other comprehensive (loss) | -172,152 | -155,162 |
Noncontrolling Interests - Partially Owned Properties | 124,909 | 126,583 |
Total liabilities and capital | 22,950,614 | 22,834,545 |
OPERATING PARTNERSHIP | ||
Investment in real estate | ||
Land | 6,295,404 | 6,192,512 |
Depreciable property | 19,851,504 | 19,226,047 |
Projects under development | 1,343,919 | 988,867 |
Land held for development | 184,556 | 393,522 |
Investment in real estate | 27,675,383 | 26,800,948 |
Accumulated depreciation | -5,432,805 | -4,807,709 |
Investment in real estate, net | 22,242,578 | 21,993,239 |
Cash and cash equivalents | 40,080 | 53,534 |
Investments in unconsolidated entities | 105,434 | 178,526 |
Deposits - restricted | 72,303 | 103,567 |
Escrow deposits - mortgage | 48,085 | 42,636 |
Deferred financing costs, net | 58,380 | 58,486 |
Other assets | 383,754 | 404,557 |
Total assets | 22,950,614 | 22,834,545 |
Liabilities: | ||
Mortgage notes payable | 5,086,515 | 5,174,166 |
Notes, net | 5,425,346 | 5,477,088 |
Lines of credit | 333,000 | 115,000 |
Accounts payable and accrued expenses | 153,590 | 118,791 |
Accrued interest payable | 89,540 | 78,309 |
Other liabilities | 389,915 | 347,748 |
Security deposits | 75,633 | 71,592 |
Distributions payable | 188,566 | 243,511 |
Total liabilities | 11,742,105 | 11,626,205 |
Redeemable Limited Partners | 500,733 | 363,144 |
Partners' Capital: | ||
Preference Units | 50,000 | 50,000 |
General Partner | 10,490,608 | 10,612,363 |
Limited Partners | 214,411 | 211,412 |
Accumulated other comprehensive (loss) | -172,152 | -155,162 |
Total partners' capital | 10,582,867 | 10,718,613 |
Noncontrolling Interests - Partially Owned Properties | 124,909 | 126,583 |
Total capital | 10,707,776 | 10,845,196 |
Total liabilities and capital | $22,950,614 | $22,834,545 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
REVENUES | |||
Rental income | $2,605,311 | $2,378,004 | $1,737,929 |
Fee and asset management | 9,437 | 9,698 | 9,573 |
Total revenues | 2,614,748 | 2,387,702 | 1,747,502 |
EXPENSES | |||
Property and maintenance | 473,098 | 449,427 | 332,219 |
Real estate taxes and insurance | 325,401 | 293,999 | 206,723 |
Property management | 79,636 | 84,342 | 81,902 |
Fee and asset management | 5,429 | 6,460 | 4,663 |
Depreciation | 758,861 | 978,973 | 560,669 |
General and administrative | 50,948 | 62,179 | 47,233 |
Total expenses | 1,693,373 | 1,875,380 | 1,233,409 |
Operating income | 921,375 | 512,322 | 514,093 |
Interest and other income | 4,462 | 5,283 | 151,060 |
Other expenses | -9,073 | -29,630 | -27,796 |
Interest: | |||
Expense incurred, net | -457,191 | -586,854 | -455,236 |
Amortization of deferred financing costs | -11,088 | -22,197 | -21,295 |
Income (loss) before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of real estate properties and land parcels and discontinued operations | 448,485 | -121,076 | 160,826 |
Income and other tax (expense) benefit | -1,394 | -1,169 | -514 |
(Loss) from investments in unconsolidated entities | -7,952 | -58,156 | -14 |
Net gain on sales of real estate properties | 212,685 | 0 | 0 |
Net gain on sales of land parcels | 5,277 | 12,227 | 0 |
Income (loss) from continuing operations | 657,101 | -168,174 | 160,298 |
Discontinued operations, net | 1,582 | 2,073,527 | 720,906 |
Net income | 658,683 | 1,905,353 | 881,204 |
Net (income) loss attributable to Noncontrolling Interests: | |||
Operating Partnership | 24,831 | 75,278 | 38,641 |
Partially Owned Properties | -2,544 | 538 | -844 |
Net income attributable to controlling interests | 631,308 | 1,830,613 | 841,719 |
Preferred distributions | -4,145 | -4,145 | -10,355 |
Premium on redemption of Preferred Shares | 0 | 0 | -5,152 |
Net income available to Common Shares | $627,163 | $1,826,468 | $826,212 |
Earnings per share - basic: | |||
Income (loss) from continuing operations available to Common Shares | $1.73 | ($0.47) | $0.45 |
Net income available to Common Shares | $1.74 | $5.16 | $2.73 |
Weighted average Common Shares outstanding | 361,181 | 354,305 | 302,701 |
Earnings per share - diluted: | |||
Income (loss) from continuing operations available to Common Shares | $1.72 | ($0.47) | $0.45 |
Net income available to Common Shares | $1.73 | $5.16 | $2.71 |
Weighted average Common Shares outstanding | 377,735 | 354,305 | 319,766 |
Distributions declared per Common Share outstanding | $2 | $1.85 | $1.78 |
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, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
REVENUES | |||
Rental income | $2,605,311,000 | $2,378,004,000 | $1,737,929,000 |
Fee and asset management | 9,437,000 | 9,698,000 | 9,573,000 |
Total revenues | 2,614,748,000 | 2,387,702,000 | 1,747,502,000 |
EXPENSES | |||
Property and maintenance | 473,098,000 | 449,427,000 | 332,219,000 |
Real estate taxes and insurance | 325,401,000 | 293,999,000 | 206,723,000 |
Property management | 79,636,000 | 84,342,000 | 81,902,000 |
Fee and asset management | 5,429,000 | 6,460,000 | 4,663,000 |
Depreciation | 758,861,000 | 978,973,000 | 560,669,000 |
General and administrative | 50,948,000 | 62,179,000 | 47,233,000 |
Total expenses | 1,693,373,000 | 1,875,380,000 | 1,233,409,000 |
Operating income | 921,375,000 | 512,322,000 | 514,093,000 |
Interest and other income | 4,462,000 | 5,283,000 | 151,060,000 |
Other expenses | -9,073,000 | -29,630,000 | -27,796,000 |
Interest: | |||
Expense incurred, net | -457,191,000 | -586,854,000 | -455,236,000 |
Amortization of deferred financing costs | -11,088,000 | -22,197,000 | -21,295,000 |
Income (loss) before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of real estate properties and land parcels and discontinued operations | 448,485,000 | -121,076,000 | 160,826,000 |
Income and other tax (expense) benefit | -1,394,000 | -1,169,000 | -514,000 |
(Loss) from investments in unconsolidated entities | -7,952,000 | -58,156,000 | -14,000 |
Net gain on sales of real estate properties | 212,685,000 | 0 | 0 |
Net gain on sales of land parcels | 5,277,000 | 12,227,000 | 0 |
Income (loss) from continuing operations | 657,101,000 | -168,174,000 | 160,298,000 |
Discontinued operations, net | 1,582,000 | 2,073,527,000 | 720,906,000 |
Net income | 658,683,000 | 1,905,353,000 | 881,204,000 |
Net (income) loss attributable to Noncontrolling Interests - Partially Owned Properties | -2,544,000 | 538,000 | -844,000 |
Net income attributable to controlling interests | 631,308,000 | 1,830,613,000 | 841,719,000 |
ALLOCATION OF NET INCOME: | |||
Preference Units | -4,145,000 | -4,145,000 | -10,355,000 |
Premium on redemption of Preference Units | 0 | 0 | 5,152,000 |
Earnings per Unit b basic: | |||
Income (loss) from continuing operations | $1.73 | ($0.47) | $0.45 |
Net income available to Units | $1.74 | $5.16 | $2.73 |
Earnings per Unit b diluted: | |||
Income (loss) from continuing operations available to Units | $1.72 | ($0.47) | $0.45 |
Net income available to Units | $1.73 | $5.16 | $2.71 |
Distributions declared per Unit outstanding | $2 | $1.85 | $1.78 |
Partnership Interest [Member] | |||
REVENUES | |||
Rental income | 2,605,311,000 | 2,378,004,000 | 1,737,929,000 |
Fee and asset management | 9,437,000 | 9,698,000 | 9,573,000 |
Total revenues | 2,614,748,000 | 2,387,702,000 | 1,747,502,000 |
EXPENSES | |||
Property and maintenance | 473,098,000 | 449,427,000 | 332,219,000 |
Real estate taxes and insurance | 325,401,000 | 293,999,000 | 206,723,000 |
Property management | 79,636,000 | 84,342,000 | 81,902,000 |
Fee and asset management | 5,429,000 | 6,460,000 | 4,663,000 |
Depreciation | 758,861,000 | 978,973,000 | 560,669,000 |
General and administrative | 50,948,000 | 62,179,000 | 47,233,000 |
Total expenses | 1,693,373,000 | 1,875,380,000 | 1,233,409,000 |
Operating income | 921,375,000 | 512,322,000 | 514,093,000 |
Interest and other income | 4,462,000 | 5,283,000 | 151,060,000 |
Other expenses | -9,073,000 | -29,630,000 | -27,796,000 |
Interest: | |||
Expense incurred, net | -457,191,000 | -586,854,000 | -455,236,000 |
Amortization of deferred financing costs | -11,088,000 | -22,197,000 | -21,295,000 |
Income (loss) before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of real estate properties and land parcels and discontinued operations | 448,485,000 | -121,076,000 | 160,826,000 |
Income and other tax (expense) benefit | -1,394,000 | -1,169,000 | -514,000 |
(Loss) from investments in unconsolidated entities | -7,952,000 | -58,156,000 | -14,000 |
Net gain on sales of real estate properties | 212,685,000 | 0 | 0 |
Net gain on sales of land parcels | 5,277,000 | 12,227,000 | 0 |
Income (loss) from continuing operations | 657,101,000 | -168,174,000 | 160,298,000 |
Discontinued operations, net | 1,582,000 | 2,073,527,000 | 720,906,000 |
Net income | 658,683,000 | 1,905,353,000 | 881,204,000 |
Net (income) loss attributable to Noncontrolling Interests - Partially Owned Properties | -2,544,000 | 538,000 | -844,000 |
Net income attributable to controlling interests | 656,139,000 | 1,905,891,000 | 880,360,000 |
ALLOCATION OF NET INCOME: | |||
Preference Units | 4,145,000 | 4,145,000 | 10,355,000 |
Premium on redemption of Preference Units | 0 | 0 | 5,152,000 |
General Partner | 627,163,000 | 1,826,468,000 | 826,212,000 |
Limited Partners | 24,831,000 | 75,278,000 | 38,641,000 |
Net income available to Units | $651,994,000 | $1,901,746,000 | $864,853,000 |
Earnings per Unit b basic: | |||
Income (loss) from continuing operations | $1.73 | ($0.47) | $0.45 |
Net income available to Units | $1.74 | $5.16 | $2.73 |
Weighted average Units outstanding | 374,899 | 368,038 | 316,554 |
Earnings per Unit b diluted: | |||
Income (loss) from continuing operations available to Units | $1.72 | ($0.47) | $0.45 |
Net income available to Units | $1.73 | $5.16 | $2.71 |
Weighted average Units outstanding | 377,735 | 368,038 | 319,766 |
Distributions declared per Unit outstanding | $2 | $1.85 | $1.78 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Comprehensive income: | |||
Net income | $658,683 | $1,905,353 | $881,204 |
Other comprehensive (loss) income - derivative instruments: | |||
Unrealized holding (losses) gains arising during the year | -33,306 | 18,771 | -11,772 |
Losses reclassified into earnings from other comprehensive income | -16,868 | -20,141 | -14,678 |
Other comprehensive income (loss) - other instruments: | |||
Unrealized holding gains arising during the year | 0 | 583 | 664 |
(Gains) realized during the year | 0 | -2,122 | 0 |
Other comprehensive (loss) income b foreign currency: | |||
Currency translation adjustments arising during the year | -552 | 613 | 0 |
Other comprehensive (loss) income | -16,990 | 37,986 | 3,570 |
Comprehensive income | 641,693 | 1,943,339 | 884,774 |
Comprehensive (income) attributable to Noncontrolling Interests | -26,728 | -76,204 | -39,624 |
Comprehensive income attributable to controlling interests | $614,965 | $1,867,135 | $845,150 |
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, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net income | $658,683 | $1,905,353 | $881,204 |
Other comprehensive (loss) income - derivative instruments: | |||
Unrealized holding (losses) gains arising during the year | -33,306 | 18,771 | -11,772 |
Losses reclassified into earnings from other comprehensive income | -16,868 | -20,141 | -14,678 |
Other comprehensive income (loss) - other instruments: | |||
Unrealized holding gains arising during the year | 0 | 583 | 664 |
(Gains) realized during the year | 0 | -2,122 | 0 |
Other comprehensive (loss) income b foreign currency: | |||
Currency translation adjustments arising during the year | -552 | 613 | 0 |
Other comprehensive (loss) income | -16,990 | 37,986 | 3,570 |
Comprehensive income | 641,693 | 1,943,339 | 884,774 |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 26,728 | 76,204 | 39,624 |
Comprehensive income attributable to controlling interests | 614,965 | 1,867,135 | 845,150 |
Partnership Interest [Member] | |||
Net income | 658,683 | 1,905,353 | 881,204 |
Other comprehensive (loss) income - derivative instruments: | |||
Unrealized holding (losses) gains arising during the year | -33,306 | 18,771 | -11,772 |
Losses reclassified into earnings from other comprehensive income | -16,868 | -20,141 | -14,678 |
Other comprehensive income (loss) - other instruments: | |||
Unrealized holding gains arising during the year | 0 | 583 | 664 |
(Gains) realized during the year | 0 | -2,122 | 0 |
Other comprehensive (loss) income b foreign currency: | |||
Currency translation adjustments arising during the year | -552 | 613 | 0 |
Other comprehensive (loss) income | -16,990 | 37,986 | 3,570 |
Comprehensive income | 641,693 | 1,943,339 | 884,774 |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 2,544 | -538 | 844 |
Comprehensive income attributable to controlling interests | $639,149 | $1,943,877 | $883,930 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $658,683,000 | $1,905,353,000 | $881,204,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 758,861,000 | 1,013,353,000 | 684,992,000 |
Amortization of deferred financing costs | 11,088,000 | 22,425,000 | 21,435,000 |
Amortization of above/below market leases | 3,222,000 | 898,000 | 0 |
Amortization of discounts and premiums on debt | -13,520,000 | -156,439,000 | -8,181,000 |
Amortization of deferred settlements on derivative instruments | 16,334,000 | 19,607,000 | 14,144,000 |
Write-off of pursuit costs | 3,607,000 | 5,184,000 | 9,056,000 |
Loss from investments in unconsolidated entities | 7,952,000 | 58,156,000 | 14,000 |
Distributions from unconsolidated entities - return on capital | 5,570,000 | 2,481,000 | 575,000 |
Net (gain) on sales of investment securities | -57,000 | -4,203,000 | 0 |
Net (gain) on sales of real estate properties | -212,685,000 | 0 | 0 |
Net (gain) on sales of land parcels | -5,277,000 | -12,227,000 | 0 |
Net (gain) on sales of discontinued operations | -179,000 | -2,036,505,000 | -548,278,000 |
Unrealized (gain) loss on derivative instruments | -60,000 | 70,000 | -1,000 |
Compensation paid with Company Common Shares | 27,543,000 | 35,474,000 | 24,832,000 |
Changes in assets and liabilities: | |||
(Increase) decrease in deposits - restricted | -1,740,000 | 3,684,000 | -4,091,000 |
Decrease in mortgage deposits | 1,452,000 | 1,813,000 | 176,000 |
Decrease (increase) in other assets | 21,773,000 | 3,742,000 | -20,411,000 |
Increase (decrease) in accounts payable and accrued expenses | 17,797,000 | 6,229,000 | -2,102,000 |
Increase (decrease) in accrued interest payable | 11,231,000 | -9,219,000 | -11,898,000 |
Increase in other liabilities | 8,437,000 | 15,401,000 | 2,987,000 |
Increase (decrease) in security deposits | 4,041,000 | -6,361,000 | 1,702,000 |
Net cash provided by operating activities | 1,324,073,000 | 868,916,000 | 1,046,155,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Acquisition of Archstone, net of cash acquired | 0 | -4,000,875,000 | 0 |
Investment in real estate - acquisitions | -469,989,000 | -108,308,000 | -843,976,000 |
Investment in real estate - development/other | -530,387,000 | -377,442,000 | -180,409,000 |
Capital expenditures to real estate | -185,957,000 | -135,816,000 | -152,828,000 |
Non-real estate capital additions | -5,286,000 | -4,134,000 | -8,821,000 |
Interest capitalized for real estate and unconsolidated entities under development | -52,782,000 | -47,321,000 | -22,509,000 |
Proceeds from disposition of real estate, net | 522,647,000 | 4,551,454,000 | 1,049,219,000 |
Investments in unconsolidated entities | -15,768,000 | -66,471,000 | -5,291,000 |
Distributions from unconsolidated entities b return of capital | 103,793,000 | 25,471,000 | 0 |
Proceeds from sale of investment securities | 57,000 | 4,878,000 | 0 |
Decrease (increase) in deposits on real estate acquisitions and investments, net | 33,004,000 | 143,694,000 | -97,984,000 |
Decrease in mortgage deposits | 798,000 | 7,893,000 | 1,444,000 |
Consolidation of previously unconsolidated properties | -44,796,000 | 0 | 0 |
Net cash (used for) investing activities | -644,666,000 | -6,977,000 | -261,155,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Debt financing costs | -10,982,000 | -16,526,000 | -21,209,000 |
Mortgage deposits | -7,699,000 | -5,631,000 | -57,000 |
Mortgage notes payable: | |||
Proceeds | 0 | 902,886,000 | 26,495,000 |
Restricted cash | 0 | 0 | 2,370,000 |
Lump sum payoffs | -88,788,000 | -2,532,682,000 | -350,247,000 |
Scheduled principal repayments | -11,869,000 | -12,658,000 | -14,088,000 |
Notes, net: | |||
Proceeds | 1,194,277,000 | 1,245,550,000 | 0 |
Lump sum payoffs | -1,250,000,000 | -400,000,000 | -975,991,000 |
Lines of credit: | |||
Proceeds | 7,167,000,000 | 9,832,000,000 | 5,876,000,000 |
Repayments | -6,949,000,000 | -9,717,000,000 | -5,876,000,000 |
(Payments on) settlement of derivative instruments | -758,000 | -44,063,000 | 0 |
Proceeds from sale of Common Shares | 0 | 0 | 1,417,040,000 |
Proceeds from Employee Share Purchase Plan (ESPP) | 3,392,000 | 3,401,000 | 5,399,000 |
Proceeds from exercise of options | 82,573,000 | 17,252,000 | 49,039,000 |
Common Shares repurchased and retired | -1,777,000 | 0 | 0 |
Redemption of Preferred Shares | 0 | 0 | -150,000,000 |
Premium on redemption of Preferred Shares | 0 | 0 | -23,000 |
Payment of offering costs | -41,000 | -1,047,000 | -39,359,000 |
Other financing activities, net | -49,000 | -48,000 | -48,000 |
Acquisition Noncontrolling Interests - Partially Owned Properties | -5,501,000 | 0 | -13,000 |
Contributions - Noncontrolling Interests - Partially Owned Properties | 5,684,000 | 27,660,000 | 8,221,000 |
Contributions - Noncontrolling Interests - Operating Partnership | 3,000 | 5,000 | 5,000 |
Distributions: | |||
Common Shares | -776,659,000 | -681,610,000 | -473,451,000 |
Preferred Shares | -4,145,000 | -4,145,000 | -13,416,000 |
Noncontrolling Interests b Operating Partnership | -30,744,000 | -27,897,000 | -21,915,000 |
Noncontrolling Interests - Partially Owned Properties | -7,778,000 | -6,442,000 | -5,083,000 |
Net cash (used for) financing activities | -692,861,000 | -1,420,995,000 | -556,331,000 |
Net (decrease) increase in cash and cash equivalents | -13,454,000 | -559,056,000 | 228,669,000 |
Cash and cash equivalents, beginning of year | 53,534,000 | 612,590,000 | 383,921,000 |
Cash and cash equivalents, end of year | 40,080,000 | 53,534,000 | 612,590,000 |
SUPPLEMENTAL INFORMATION: | |||
Cash paid for interest, net of amounts capitalized | 443,125,000 | 722,963,000 | 464,785,000 |
Net cash paid for income and other taxes | 1,517,000 | 1,152,000 | 673,000 |
Real estate acquisitions/dispositions/other: | |||
Mortgage loans assumed | 28,910,000 | 0 | 137,644,000 |
Valuation of OP Units issued | 0 | 0 | 66,606,000 |
Amortization of deferred financing costs: | |||
Investment in real estate, net | 0 | -152,000 | 0 |
Deferred financing costs, net | 11,088,000 | 22,577,000 | 21,435,000 |
Amortization of discounts and premiums on debt: | |||
Mortgage notes payable | -15,904,000 | -158,625,000 | -10,333,000 |
Notes, net | 2,384,000 | 2,186,000 | 2,152,000 |
Amortization of deferred settlements on derivative instruments: | |||
Other liabilities | -534,000 | -534,000 | -534,000 |
Accumulated other comprehensive income | 16,868,000 | 20,141,000 | 14,678,000 |
Loss From Investments In Unconsolidated Entities: | |||
Investments in unconsolidated entities | 4,610,000 | 53,066,000 | 14,000 |
Other liabilities | 3,342,000 | 5,090,000 | 0 |
Distributions from unconsolidated entities return on capital: | |||
Investments in unconsolidated entities | 5,360,000 | 2,448,000 | 575,000 |
Other liabilities | 210,000 | 33,000 | 0 |
Unrealized (gain) loss on derivative instruments: | |||
Other assets | 10,160,000 | -17,139,000 | 7,448,000 |
Mortgage notes payable | 0 | 0 | -2,589,000 |
Notes, net | 1,597,000 | -1,523,000 | -4,860,000 |
Other liabilities | 21,489,000 | -39,000 | 11,772,000 |
Accumulated other comprehensive income | -33,306,000 | 18,771,000 | -11,772,000 |
Acquisition of Archstone, net of cash acquired: | |||
Investment in real estate, net | 39,929,000 | -8,687,355,000 | 0 |
Investments in unconsolidated entities | -33,993,000 | -225,568,000 | 0 |
Deposits - restricted | 0 | -528,000 | 0 |
Escrow deposits - mortgage | 0 | -37,582,000 | 0 |
Deferred financing costs, net | 0 | -25,780,000 | 0 |
Other assets | -2,586,000 | -215,622,000 | 0 |
Mortgage notes payable | 0 | 3,076,876,000 | 0 |
Accounts payable and accrued expenses | -146,000 | 16,984,000 | 0 |
Accrued interest payable | 0 | 11,305,000 | 0 |
Other liabilities | -3,204,000 | 117,299,000 | 0 |
Security deposits | 0 | 10,965,000 | 0 |
Issuance of Common Shares | 0 | 1,929,868,000 | 0 |
Noncontrolling Interests - Partially Owned Properties | 0 | 28,263,000 | 0 |
Interest capitalized for real estate and unconsolidated entities under development: | |||
Investment in real estate, net | -52,717,000 | -45,533,000 | -21,661,000 |
Investments in unconsolidated entities | -65,000 | -1,788,000 | -848,000 |
Investments in unconsolidated entities: | |||
Investments in unconsolidated entities | -6,318,000 | -13,656,000 | -5,291,000 |
Other liabilities | -9,450,000 | -52,815,000 | 0 |
Consolidation of previously unconsolidated properties: | |||
Investment in real estate, net | 469,989,000 | 108,308,000 | 843,976,000 |
Investments in unconsolidated entities | 15,768,000 | 66,471,000 | 5,291,000 |
Accounts payable and accrued expenses | 17,797,000 | 6,229,000 | -2,102,000 |
(Payments on) settlement of derivative instruments: | |||
Other assets | 6,623,000 | -50,000 | 0 |
Other liabilities | -7,381,000 | -44,013,000 | 0 |
Other: | |||
Receivable on sale of Common Shares | 0 | 0 | 28,457,000 |
Foreign currency translation adjustments | 552,000 | -613,000 | 0 |
Parc on Powell (fka Parkside at Emeryville) [Member] | |||
Changes in assets and liabilities: | |||
Increase (decrease) in accounts payable and accrued expenses | 1,987,000 | 0 | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Investment in real estate - acquisitions | 64,319,000 | 0 | 0 |
Investments in unconsolidated entities | 847,000 | 0 | 0 |
Consolidation of previously unconsolidated properties: | |||
Investment in real estate, net | -64,319,000 | 0 | 0 |
Investments in unconsolidated entities | -847,000 | 0 | 0 |
Accounts payable and accrued expenses | 1,987,000 | 0 | 0 |
Other Liabilities | $18,383,000 | $0 | $0 |
CONSOLIDATED_STATEMENTS_OF_CAS1
CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $658,683,000 | $1,905,353,000 | $881,204,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 758,861,000 | 1,013,353,000 | 684,992,000 |
Amortization of deferred financing costs | 11,088,000 | 22,425,000 | 21,435,000 |
Amortization of above/below market leases | 3,222,000 | 898,000 | 0 |
Amortization of discounts and premiums on debt | -13,520,000 | -156,439,000 | -8,181,000 |
Amortization of deferred settlements on derivative instruments | 16,334,000 | 19,607,000 | 14,144,000 |
Write-off of pursuit costs | 3,607,000 | 5,184,000 | 9,056,000 |
Loss from investments in unconsolidated entities | 7,952,000 | 58,156,000 | 14,000 |
Distributions from unconsolidated entities - return on capital | 5,570,000 | 2,481,000 | 575,000 |
Net (gain) on sales of investment securities | -57,000 | -4,203,000 | 0 |
Net (gain) on sales of real estate properties | -212,685,000 | 0 | 0 |
Net (gain) on sales of land parcels | -5,277,000 | -12,227,000 | 0 |
Net (gain) on sales of discontinued operations | -179,000 | -2,036,505,000 | -548,278,000 |
Unrealized (gain) loss on derivative instruments | -60,000 | 70,000 | -1,000 |
Compensation paid with Company Common Shares | 27,543,000 | 35,474,000 | 24,832,000 |
Changes in assets and liabilities: | |||
(Increase) decrease in deposits - restricted | -1,740,000 | 3,684,000 | -4,091,000 |
Decrease in mortgage deposits | 1,452,000 | 1,813,000 | 176,000 |
Decrease (increase) in other assets | 21,773,000 | 3,742,000 | -20,411,000 |
Increase (decrease) in accounts payable and accrued expenses | 17,797,000 | 6,229,000 | -2,102,000 |
Increase (decrease) in accrued interest payable | 11,231,000 | -9,219,000 | -11,898,000 |
Increase in other liabilities | 8,437,000 | 15,401,000 | 2,987,000 |
Increase (decrease) in security deposits | 4,041,000 | -6,361,000 | 1,702,000 |
Net cash provided by operating activities | 1,324,073,000 | 868,916,000 | 1,046,155,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Acquisition of Archstone, net of cash acquired | 0 | -4,000,875,000 | 0 |
Investment in real estate - acquisitions | -469,989,000 | -108,308,000 | -843,976,000 |
Investment in real estate - development/other | -530,387,000 | -377,442,000 | -180,409,000 |
Capital expenditures to real estate | -185,957,000 | -135,816,000 | -152,828,000 |
Non-real estate capital additions | -5,286,000 | -4,134,000 | -8,821,000 |
Interest capitalized for real estate and unconsolidated entities under development | -52,782,000 | -47,321,000 | -22,509,000 |
Proceeds from disposition of real estate, net | 522,647,000 | 4,551,454,000 | 1,049,219,000 |
Investments in unconsolidated entities | -15,768,000 | -66,471,000 | -5,291,000 |
Distributions from unconsolidated entities - return of capital | 103,793,000 | 25,471,000 | 0 |
Proceeds from sale of investment securities | 57,000 | 4,878,000 | 0 |
Decrease (increase) in deposits on real estate acquisitions and investments, net | 33,004,000 | 143,694,000 | -97,984,000 |
Decrease in mortgage deposits | 798,000 | 7,893,000 | 1,444,000 |
Consolidation of previously unconsolidated properties | -44,796,000 | 0 | 0 |
Net cash (used for) investing activities | -644,666,000 | -6,977,000 | -261,155,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Debt financing costs | -10,982,000 | -16,526,000 | -21,209,000 |
Mortgage deposits | -7,699,000 | -5,631,000 | -57,000 |
Mortgage notes payable: | |||
Proceeds | 0 | 902,886,000 | 26,495,000 |
Restricted cash | 0 | 0 | 2,370,000 |
Lump sum payoffs | -88,788,000 | -2,532,682,000 | -350,247,000 |
Scheduled principal repayments | -11,869,000 | -12,658,000 | -14,088,000 |
Notes, net: | |||
Proceeds | 1,194,277,000 | 1,245,550,000 | 0 |
Lump sum payoffs | -1,250,000,000 | -400,000,000 | -975,991,000 |
Lines of credit: | |||
Proceeds | 7,167,000,000 | 9,832,000,000 | 5,876,000,000 |
Repayments | -6,949,000,000 | -9,717,000,000 | -5,876,000,000 |
(Payments on) settlement of derivative instruments | -758,000 | -44,063,000 | 0 |
Proceeds from EQR's Employee Share Purchase Plan (ESPP) | 3,392,000 | 3,401,000 | 5,399,000 |
Proceeds from exercise of EQR options | 82,573,000 | 17,252,000 | 49,039,000 |
OP units repurchased and retired | -1,777,000 | 0 | 0 |
Redemption of Preference Units | 0 | 0 | -150,000,000 |
Premium on redemption of Preference Units | 0 | 0 | -23,000 |
Payment of offering costs | -41,000 | -1,047,000 | -39,359,000 |
Other financing activities, net | -49,000 | -48,000 | -48,000 |
Acquisition Noncontrolling Interests - Partially Owned Properties | -5,501,000 | 0 | -13,000 |
Contributions - Noncontrolling Interests - Partially Owned Properties | 5,684,000 | 27,660,000 | 8,221,000 |
Contributions - Limited Partners | 3,000 | 5,000 | 5,000 |
Distributions: | |||
Net cash (used for) financing activities | -692,861,000 | -1,420,995,000 | -556,331,000 |
Net (decrease) increase in cash and cash equivalents | -13,454,000 | -559,056,000 | 228,669,000 |
Cash and cash equivalents, beginning of year | 53,534,000 | 612,590,000 | 383,921,000 |
Cash and cash equivalents, end of year | 40,080,000 | 53,534,000 | 612,590,000 |
SUPPLEMENTAL INFORMATION: | |||
Cash paid for interest, net of amounts capitalized | 443,125,000 | 722,963,000 | 464,785,000 |
Net cash paid for income and other taxes | 1,517,000 | 1,152,000 | 673,000 |
Real estate acquisitions/dispositions/other: | |||
Mortgage loans assumed | 28,910,000 | 0 | 137,644,000 |
Valuation of OP Units issued | 0 | 0 | 66,606,000 |
Amortization of deferred financing costs: | |||
Investment in real estate, net | 0 | -152,000 | 0 |
Deferred financing costs, net | 11,088,000 | 22,577,000 | 21,435,000 |
Amortization of discounts and premiums on debt: | |||
Mortgage notes payable | -15,904,000 | -158,625,000 | -10,333,000 |
Notes, net | 2,384,000 | 2,186,000 | 2,152,000 |
Amortization of deferred settlements on derivative instruments: | |||
Other liabilities | -534,000 | -534,000 | -534,000 |
Accumulated other comprehensive income | 16,868,000 | 20,141,000 | 14,678,000 |
Loss From Investments In Unconsolidated Entities: | |||
Investments in unconsolidated entities | 4,610,000 | 53,066,000 | 14,000 |
Other liabilities | 3,342,000 | 5,090,000 | 0 |
Distributions from unconsolidated entities return on capital: | |||
Investments in unconsolidated entities | 5,360,000 | 2,448,000 | 575,000 |
Other liabilities | 210,000 | 33,000 | 0 |
Unrealized (gain) loss on derivative instruments: | |||
Other assets | 10,160,000 | -17,139,000 | 7,448,000 |
Mortgage notes payable | 0 | 0 | -2,589,000 |
Notes, net | 1,597,000 | -1,523,000 | -4,860,000 |
Other liabilities | 21,489,000 | -39,000 | 11,772,000 |
Accumulated other comprehensive income | -33,306,000 | 18,771,000 | -11,772,000 |
Acquisition of Archstone, net of cash acquired: | |||
Investment in real estate, net | 39,929,000 | -8,687,355,000 | 0 |
Investments in unconsolidated entities | -33,993,000 | -225,568,000 | 0 |
Deposits - restricted | 0 | -528,000 | 0 |
Escrow deposits - mortgage | 0 | -37,582,000 | 0 |
Deferred financing costs, net | 0 | -25,780,000 | 0 |
Other assets | -2,586,000 | -215,622,000 | 0 |
Mortgage notes payable | 0 | 3,076,876,000 | 0 |
Accounts payable and accrued expenses | -146,000 | 16,984,000 | 0 |
Accrued interest payable | 0 | 11,305,000 | 0 |
Other liabilities | -3,204,000 | 117,299,000 | 0 |
Security deposits | 0 | 10,965,000 | 0 |
Issuance of OP Units | 0 | 1,929,868,000 | 0 |
Noncontrolling Interests - Partially Owned Properties | 0 | 28,263,000 | 0 |
Interest capitalized for real estate and unconsolidated entities under development: | |||
Investment in real estate, net | -52,717,000 | -45,533,000 | -21,661,000 |
Investments in unconsolidated entities | -65,000 | -1,788,000 | -848,000 |
Investments in unconsolidated entities: | |||
Investments in unconsolidated entities | -6,318,000 | -13,656,000 | -5,291,000 |
Other liabilities | -9,450,000 | -52,815,000 | 0 |
Consolidation of previously unconsolidated properties: | |||
Investment in real estate, net | 469,989,000 | 108,308,000 | 843,976,000 |
Investments in unconsolidated entities | 15,768,000 | 66,471,000 | 5,291,000 |
Accounts payable and accrued expenses | 17,797,000 | 6,229,000 | -2,102,000 |
(Payments on) settlement of derivative instruments: | |||
Other assets | 6,623,000 | -50,000 | 0 |
Other liabilities | -7,381,000 | -44,013,000 | 0 |
Other: | |||
Receivable on sale of OP Units | 0 | 0 | 28,457,000 |
Foreign currency translation adjustments | 552,000 | -613,000 | 0 |
OPERATING PARTNERSHIP | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | 658,683,000 | 1,905,353,000 | 881,204,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 758,861,000 | 1,013,353,000 | 684,992,000 |
Amortization of deferred financing costs | 11,088,000 | 22,425,000 | 21,435,000 |
Amortization of above/below market leases | 3,222,000 | 898,000 | 0 |
Amortization of discounts and premiums on debt | -13,520,000 | -156,439,000 | -8,181,000 |
Amortization of deferred settlements on derivative instruments | 16,334,000 | 19,607,000 | 14,144,000 |
Write-off of pursuit costs | 3,607,000 | 5,184,000 | 9,056,000 |
Loss from investments in unconsolidated entities | 7,952,000 | 58,156,000 | 14,000 |
Distributions from unconsolidated entities - return on capital | 5,570,000 | 2,481,000 | 575,000 |
Net (gain) on sales of investment securities | -57,000 | -4,203,000 | 0 |
Net (gain) on sales of real estate properties | -212,685,000 | 0 | 0 |
Net (gain) on sales of land parcels | -5,277,000 | -12,227,000 | 0 |
Net (gain) on sales of discontinued operations | -179,000 | -2,036,505,000 | -548,278,000 |
Unrealized (gain) loss on derivative instruments | -60,000 | 70,000 | -1,000 |
Compensation paid with Company Common Shares | 27,543,000 | 35,474,000 | 24,832,000 |
Changes in assets and liabilities: | |||
(Increase) decrease in deposits - restricted | -1,740,000 | 3,684,000 | -4,091,000 |
Decrease in mortgage deposits | 1,452,000 | 1,813,000 | 176,000 |
Decrease (increase) in other assets | 21,773,000 | 3,742,000 | -20,411,000 |
Increase (decrease) in accounts payable and accrued expenses | 17,797,000 | 6,229,000 | -2,102,000 |
Increase (decrease) in accrued interest payable | 11,231,000 | -9,219,000 | -11,898,000 |
Increase in other liabilities | 8,437,000 | 15,401,000 | 2,987,000 |
Increase (decrease) in security deposits | 4,041,000 | -6,361,000 | 1,702,000 |
Net cash provided by operating activities | 1,324,073,000 | 868,916,000 | 1,046,155,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Acquisition of Archstone, net of cash acquired | 0 | -4,000,875,000 | 0 |
Investment in real estate - acquisitions | -469,989,000 | -108,308,000 | -843,976,000 |
Investment in real estate - development/other | -530,387,000 | -377,442,000 | -180,409,000 |
Capital expenditures to real estate | -185,957,000 | -135,816,000 | -152,828,000 |
Non-real estate capital additions | -5,286,000 | -4,134,000 | -8,821,000 |
Interest capitalized for real estate and unconsolidated entities under development | -52,782,000 | -47,321,000 | -22,509,000 |
Proceeds from disposition of real estate, net | 522,647,000 | 4,551,454,000 | 1,049,219,000 |
Investments in unconsolidated entities | -15,768,000 | -66,471,000 | -5,291,000 |
Distributions from unconsolidated entities - return of capital | 103,793,000 | 25,471,000 | 0 |
Proceeds from sale of investment securities | 57,000 | 4,878,000 | 0 |
Decrease (increase) in deposits on real estate acquisitions and investments, net | 33,004,000 | 143,694,000 | -97,984,000 |
Decrease in mortgage deposits | 798,000 | 7,893,000 | 1,444,000 |
Consolidation of previously unconsolidated properties | -44,796,000 | 0 | 0 |
Net cash (used for) investing activities | -644,666,000 | -6,977,000 | -261,155,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Debt financing costs | -10,982,000 | -16,526,000 | -21,209,000 |
Mortgage deposits | -7,699,000 | -5,631,000 | -57,000 |
Mortgage notes payable: | |||
Proceeds | 0 | 902,886,000 | 26,495,000 |
Restricted cash | 0 | 0 | 2,370,000 |
Lump sum payoffs | -88,788,000 | -2,532,682,000 | -350,247,000 |
Scheduled principal repayments | -11,869,000 | -12,658,000 | -14,088,000 |
Notes, net: | |||
Proceeds | 1,194,277,000 | 1,245,550,000 | 0 |
Lump sum payoffs | -1,250,000,000 | -400,000,000 | -975,991,000 |
Lines of credit: | |||
Proceeds | 7,167,000,000 | 9,832,000,000 | 5,876,000,000 |
Repayments | -6,949,000,000 | -9,717,000,000 | -5,876,000,000 |
(Payments on) settlement of derivative instruments | -758,000 | -44,063,000 | 0 |
Proceeds from sale of OP Units | 0 | 0 | 1,417,040,000 |
Proceeds from EQR's Employee Share Purchase Plan (ESPP) | 3,392,000 | 3,401,000 | 5,399,000 |
Proceeds from exercise of EQR options | 82,573,000 | 17,252,000 | 49,039,000 |
OP units repurchased and retired | -1,777,000 | 0 | 0 |
Redemption of Preference Units | 0 | 0 | -150,000,000 |
Premium on redemption of Preference Units | 0 | 0 | -23,000 |
Payment of offering costs | -41,000 | -1,047,000 | -39,359,000 |
Other financing activities, net | -49,000 | -48,000 | -48,000 |
Acquisition Noncontrolling Interests - Partially Owned Properties | -5,501,000 | 0 | -13,000 |
Contributions - Noncontrolling Interests - Partially Owned Properties | 5,684,000 | 27,660,000 | 8,221,000 |
Contributions - Limited Partners | 3,000 | 5,000 | 5,000 |
Distributions: | |||
OP Units - General Partner | -776,659,000 | -681,610,000 | -473,451,000 |
Preference Units | -4,145,000 | -4,145,000 | -13,416,000 |
OP Units - Limited Partners | -30,744,000 | -27,897,000 | -21,915,000 |
Noncontrolling Interests - Partially Owned Properties | -7,778,000 | -6,442,000 | -5,083,000 |
Net cash (used for) financing activities | -692,861,000 | -1,420,995,000 | -556,331,000 |
Net (decrease) increase in cash and cash equivalents | -13,454,000 | -559,056,000 | 228,669,000 |
Cash and cash equivalents, beginning of year | 53,534,000 | 612,590,000 | 383,921,000 |
Cash and cash equivalents, end of year | 40,080,000 | 53,534,000 | 612,590,000 |
SUPPLEMENTAL INFORMATION: | |||
Cash paid for interest, net of amounts capitalized | 443,125,000 | 722,963,000 | 464,785,000 |
Net cash paid for income and other taxes | 1,517,000 | 1,152,000 | 673,000 |
Real estate acquisitions/dispositions/other: | |||
Mortgage loans assumed | 28,910,000 | 0 | 137,644,000 |
Valuation of OP Units issued | 0 | 0 | 66,606,000 |
Amortization of deferred financing costs: | |||
Investment in real estate, net | 0 | -152,000 | 0 |
Deferred financing costs, net | 11,088,000 | 22,577,000 | 21,435,000 |
Amortization of discounts and premiums on debt: | |||
Mortgage notes payable | -15,904,000 | -158,625,000 | -10,333,000 |
Notes, net | 2,384,000 | 2,186,000 | 2,152,000 |
Amortization of deferred settlements on derivative instruments: | |||
Other liabilities | -534,000 | -534,000 | -534,000 |
Accumulated other comprehensive income | 16,868,000 | 20,141,000 | 14,678,000 |
Loss From Investments In Unconsolidated Entities: | |||
Investments in unconsolidated entities | 4,610,000 | 53,066,000 | 14,000 |
Other liabilities | 3,342,000 | 5,090,000 | 0 |
Distributions from unconsolidated entities return on capital: | |||
Investments in unconsolidated entities | 5,360,000 | 2,448,000 | 575,000 |
Other liabilities | 210,000 | 33,000 | 0 |
Unrealized (gain) loss on derivative instruments: | |||
Other assets | 10,160,000 | -17,139,000 | 7,448,000 |
Mortgage notes payable | 0 | 0 | -2,589,000 |
Notes, net | 1,597,000 | -1,523,000 | -4,860,000 |
Other liabilities | 21,489,000 | -39,000 | 11,772,000 |
Accumulated other comprehensive income | -33,306,000 | 18,771,000 | -11,772,000 |
Acquisition of Archstone, net of cash acquired: | |||
Investment in real estate, net | 39,929,000 | -8,687,355,000 | 0 |
Investments in unconsolidated entities | -33,993,000 | -225,568,000 | 0 |
Deposits - restricted | 0 | -528,000 | 0 |
Escrow deposits - mortgage | 0 | -37,582,000 | 0 |
Deferred financing costs, net | 0 | -25,780,000 | 0 |
Other assets | -2,586,000 | -215,622,000 | 0 |
Mortgage notes payable | 0 | 3,076,876,000 | 0 |
Accounts payable and accrued expenses | -146,000 | 16,984,000 | 0 |
Accrued interest payable | 0 | 11,305,000 | 0 |
Other liabilities | -3,204,000 | 117,299,000 | 0 |
Security deposits | 0 | 10,965,000 | 0 |
Issuance of OP Units | 0 | 1,929,868,000 | 0 |
Noncontrolling Interests - Partially Owned Properties | 0 | 28,263,000 | 0 |
Interest capitalized for real estate and unconsolidated entities under development: | |||
Investment in real estate, net | -52,717,000 | -45,533,000 | -21,661,000 |
Investments in unconsolidated entities | -65,000 | -1,788,000 | -848,000 |
Investments in unconsolidated entities: | |||
Investments in unconsolidated entities | -6,318,000 | -13,656,000 | -5,291,000 |
Other liabilities | -9,450,000 | -52,815,000 | 0 |
Consolidation of previously unconsolidated properties: | |||
Investment in real estate, net | 469,989,000 | 108,308,000 | 843,976,000 |
Investments in unconsolidated entities | 15,768,000 | 66,471,000 | 5,291,000 |
Accounts payable and accrued expenses | 17,797,000 | 6,229,000 | -2,102,000 |
(Payments on) settlement of derivative instruments: | |||
Other assets | 6,623,000 | -50,000 | 0 |
Other liabilities | -7,381,000 | -44,013,000 | 0 |
Other: | |||
Receivable on sale of OP Units | 0 | 0 | 28,457,000 |
Foreign currency translation adjustments | 552,000 | -613,000 | 0 |
Consolidated Development Projects Held for and or Under Development [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | -70,000 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Loss from investments in unconsolidated entities | 0 | ||
Distributions: | |||
Cash and cash equivalents, end of year | 0 | ||
Parc on Powell (fka Parkside at Emeryville) [Member] | |||
Changes in assets and liabilities: | |||
Increase (decrease) in accounts payable and accrued expenses | 1,987,000 | 0 | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Investment in real estate - acquisitions | 64,319,000 | 0 | 0 |
Investments in unconsolidated entities | 847,000 | 0 | 0 |
Consolidation of previously unconsolidated properties: | |||
Investment in real estate, net | -64,319,000 | 0 | 0 |
Investments in unconsolidated entities | -847,000 | 0 | 0 |
Accounts payable and accrued expenses | 1,987,000 | 0 | 0 |
Other Liabilities | 18,383,000 | 0 | 0 |
Parc on Powell (fka Parkside at Emeryville) [Member] | OPERATING PARTNERSHIP | |||
Changes in assets and liabilities: | |||
Increase (decrease) in accounts payable and accrued expenses | 1,987,000 | 0 | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Investment in real estate - acquisitions | 64,319,000 | 0 | 0 |
Investments in unconsolidated entities | 847,000 | 0 | 0 |
Consolidation of previously unconsolidated properties: | |||
Investment in real estate, net | -64,319,000 | 0 | 0 |
Investments in unconsolidated entities | -847,000 | 0 | 0 |
Accounts payable and accrued expenses | 1,987,000 | 0 | 0 |
Other Liabilities | $18,383,000 | $0 | $0 |
CONSOLIDATED_STATEMENT_OF_CHAN
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (USD $) | Total | Preferred Stock [Member] | 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, 2011 | $119,536 | $74,306 | |||||||
Balance, beginning of year 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% | ||||||||
Redemption of 6.48% Series N Cumulative Redeemable | 150,000 | -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 | |||||||
Restricted shares | 2 | 8,934 | |||||||
Share-based employee compensation expense: | |||||||||
Share options | 11,752 | ||||||||
ESPP discount | 965 | ||||||||
Common Shares repurchsed and retired | 0 | ||||||||
Offering costs | -39,359 | ||||||||
Premium on redemption of Preferred Shares - original issuance costs | 5,129 | -5,129 | 5,100 | ||||||
Supplemental Executive Retirement Plan (SERP) | 282 | ||||||||
Acquisition of Noncontrolling Interests - Partially Owned Properties | 13 | 1,293 | -1,306 | ||||||
Adjustment for Noncontrolling Interests ownership in Operating Partnership | 5,763 | -5,763 | |||||||
Retained Earnings | |||||||||
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 charge | 23 | -23 | |||||||
Accumulated other comprehensive (loss) income - derivative instruments: | |||||||||
Unrealized holding (losses) gains 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: | |||||||||
Unrealized holding gains arising during the year | 664 | 664 | |||||||
(Gains) realized during the year | 0 | 0 | |||||||
Currency translation adjustments arising during the year | 0 | 0 | |||||||
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership | -38,734 | 38,734 | |||||||
Operating Partnership | |||||||||
Issuance of OP Units to Noncontrolling Interests | 66,606 | ||||||||
Issuance restricted units to Noncontrolling Interests | 5 | ||||||||
Equity Compensation associated with Noncontrolling Interests | 5,307 | ||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 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 | |||||||
Partially Owned Properties | |||||||||
Contributions - Noncontrolling Interests - Partially Owned Properties | 8,221 | 8,221 | |||||||
Archstone of Archstone | 0 | ||||||||
Acquisition Noncontrolling Interests - Partially Owned Properties | 13 | 1,293 | -1,306 | ||||||
Other | 754 | ||||||||
Ending Balance, Noncontrolling Interest at Dec. 31, 2012 | 159,606 | 77,688 | |||||||
Balance, end of year at Dec. 31, 2012 | 50,000 | 3,251 | 6,542,355 | 887,355 | -193,148 | ||||
Preferred Shares | |||||||||
Preferred Stock Preference Units Dividend Rate Percentage | 6.48% | ||||||||
Redemption of 6.48% Series N Cumulative Redeemable | 0 | 0 | |||||||
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 | |||||||
Restricted shares | 2 | 13,262 | |||||||
Share-based employee compensation expense: | |||||||||
Share options | 10,514 | ||||||||
ESPP discount | 632 | ||||||||
Common Shares repurchsed and retired | 0 | ||||||||
Offering costs | -1,047 | ||||||||
Premium on redemption of Preferred Shares - original issuance costs | 0 | 0 | |||||||
Supplemental Executive Retirement Plan (SERP) | -422 | ||||||||
Acquisition of Noncontrolling Interests - Partially Owned Properties | 0 | 0 | 0 | ||||||
Adjustment for Noncontrolling Interests ownership in Operating Partnership | -35,329 | 35,329 | |||||||
Retained Earnings | |||||||||
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 charge | 0 | 0 | |||||||
Accumulated other comprehensive (loss) income - derivative instruments: | |||||||||
Unrealized holding (losses) gains 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: | |||||||||
Unrealized holding gains arising during the year | 583 | 583 | |||||||
(Gains) realized during the year | -2,122 | -2,122 | |||||||
Currency translation adjustments arising during the year | 613 | 613 | |||||||
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership | -79,667 | 79,667 | |||||||
Operating Partnership | |||||||||
Issuance of OP Units to Noncontrolling Interests | 0 | ||||||||
Issuance restricted units to Noncontrolling Interests | 5 | ||||||||
Equity Compensation associated with Noncontrolling Interests | 13,609 | ||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 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 | |||||||
Partially Owned Properties | |||||||||
Contributions - Noncontrolling Interests - Partially Owned Properties | 27,660 | 27,660 | |||||||
Archstone of Archstone | 28,263 | ||||||||
Acquisition Noncontrolling Interests - Partially Owned Properties | 0 | 0 | 0 | ||||||
Other | 0 | ||||||||
Ending Balance, Noncontrolling Interest at Dec. 31, 2013 | 10,845,196 | 211,412 | 126,583 | ||||||
Balance, end of year at Dec. 31, 2013 | 10,507,201 | 50,000 | 3,605 | 8,561,500 | 2,047,258 | -155,162 | |||
Preferred Shares | |||||||||
Preferred Stock Preference Units Dividend Rate Percentage | 6.48% | ||||||||
Redemption of 6.48% Series N Cumulative Redeemable | 0 | 0 | |||||||
Common Share Issuance: | |||||||||
Conversion of OP Units into Common Shares | 1 | 2,364 | -2,365 | ||||||
Issuance of Common Shares | 0 | 0 | |||||||
Exercise of share options | 21 | 82,552 | |||||||
Employee Share Purchase Plan (ESPP) | 0 | 3,392 | |||||||
Restricted shares | 2 | 9,902 | |||||||
Share-based employee compensation expense: | |||||||||
Share options | 7,349 | ||||||||
ESPP discount | 859 | ||||||||
Common Shares repurchsed and retired | -1,777 | ||||||||
Offering costs | -41 | ||||||||
Premium on redemption of Preferred Shares - original issuance costs | 0 | 0 | |||||||
Supplemental Executive Retirement Plan (SERP) | 7,374 | ||||||||
Acquisition of Noncontrolling Interests - Partially Owned Properties | 5,501 | -2,308 | -2,244 | ||||||
Adjustment for Noncontrolling Interests ownership in Operating Partnership | 4,992 | -4,992 | |||||||
Retained Earnings | |||||||||
Net income attributable to controlling interests | 631,308 | 631,308 | |||||||
Common Share distributions | -723,782 | ||||||||
Preferred Share distributions | -4,145 | ||||||||
Premium on redemption of Preferred Shares - cash charge | 0 | 0 | |||||||
Accumulated other comprehensive (loss) income - derivative instruments: | |||||||||
Unrealized holding (losses) gains arising during the year | -33,306 | -33,306 | |||||||
Losses reclassified into earnings from other comprehensive income | -16,868 | 16,868 | |||||||
Accumulated other comprehensive income (loss) - other instruments: | |||||||||
Unrealized holding gains arising during the year | 0 | 0 | |||||||
(Gains) realized during the year | 0 | 0 | |||||||
Currency translation adjustments arising during the year | -552 | -552 | |||||||
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership | 139,818 | -139,818 | |||||||
Operating Partnership | |||||||||
Issuance of OP Units to Noncontrolling Interests | 0 | ||||||||
Issuance restricted units to Noncontrolling Interests | 3 | ||||||||
Equity Compensation associated with Noncontrolling Interests | 11,969 | ||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 658,683 | 24,831 | 2,544 | ||||||
Distributions to Noncontrolling Interests | -28,676 | -7,827 | |||||||
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership | -2,229 | 2,229 | |||||||
Partially Owned Properties | |||||||||
Contributions - Noncontrolling Interests - Partially Owned Properties | 5,684 | 5,684 | |||||||
Archstone of Archstone | 0 | ||||||||
Acquisition Noncontrolling Interests - Partially Owned Properties | 5,501 | -2,308 | -2,244 | ||||||
Other | 169 | ||||||||
Ending Balance, Noncontrolling Interest at Dec. 31, 2014 | 10,707,776 | 214,411 | 124,909 | ||||||
Balance, end of year at Dec. 31, 2014 | $10,368,456 | $50,000 | $3,629 | $8,536,340 | $1,950,639 | ($172,152) |
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, 2011 | $200,000 | $5,665,733 | $119,536 | ($196,718) | $74,306 | |||
Preference Units | ||||||||
Redemption of 6.48% Series N Cumulative Redeemable | 150,000 | -150,000 | 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 | 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 | |||||||
Share-based employee compensation expense: | ||||||||
EQR restricted shares | 8,936 | |||||||
EQR share options | 11,752 | |||||||
EQR ESPP discount | 965 | |||||||
OP Units repurchased and retired | 0 | |||||||
Offering costs | -39,359 | |||||||
Premium on redemption of Preferred Shares - original issuance costs | 5,129 | 5,100 | ||||||
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 | 13 | 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 | ||||||
Limited Partners' Capital Account [Abstract] | ||||||||
Issuance of OP Units to Noncontrolling Interests | 66,606 | |||||||
Issuance restricted units to Limited Partners | 5 | |||||||
Equity compensation associated with Units - Limited Partners | 5,307 | |||||||
Net income available to Units - Limited Partners | 38,641 | |||||||
Units - Limited Partners distributions | -25,095 | |||||||
Change in carrying value of Redeemable Limited Partners | -20,702 | |||||||
Adjustment For Limited Partners Ownership In Operating Partnership | 5,763 | -5,763 | ||||||
Accumulated other comprehensive (loss) income - derivative instruments: | ||||||||
Unrealized holding (losses) gains 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: | ||||||||
Unrealized holding gains arising during the year | 664 | 664 | ||||||
(Gains) on Sale of Securities, Net | 0 | 0 | ||||||
Currency translation adjustments arising during the year | 0 | 0 | ||||||
Noncontrolling Interest [Abstract] | ||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 881,204 | 844 | ||||||
Contributions - Noncontrolling Interests | 8,221 | 8,221 | ||||||
Distributions to Noncontrolling Interests | -5,131 | |||||||
Archstone of Archstone | 0 | |||||||
Acquisition Noncontrolling Interests - Partially Owned Properties | 13 | 1,293 | -1,306 | |||||
Other | 754 | |||||||
Balance, end of period at Dec. 31, 2012 | 50,000 | 7,432,961 | 159,606 | -193,148 | 77,688 | |||
Preference Units | ||||||||
Redemption of 6.48% Series N Cumulative Redeemable | 0 | 0 | ||||||
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 | 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 | |||||||
Share-based employee compensation expense: | ||||||||
EQR restricted shares | 13,264 | |||||||
EQR share options | 10,514 | |||||||
EQR ESPP discount | 632 | |||||||
OP Units repurchased and retired | 0 | |||||||
Offering costs | -1,047 | |||||||
Premium on redemption of Preferred Shares - original issuance costs | 0 | |||||||
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 | 0 | |||||
Change in market value of Redeemable Limited Partners | 79,667 | |||||||
Adjustment for Limited Partners ownership in Operating Partnership | -35,329 | 35,329 | ||||||
Limited Partners' Capital Account [Abstract] | ||||||||
Issuance of OP Units to Noncontrolling Interests | 0 | |||||||
Issuance restricted units to Limited Partners | 5 | |||||||
Equity compensation associated with Units - Limited Partners | 13,609 | |||||||
Net income available to Units - Limited Partners | 75,278 | |||||||
Units - Limited Partners distributions | -26,277 | |||||||
Change in carrying value of Redeemable Limited Partners | -44,439 | |||||||
Adjustment For Limited Partners Ownership In Operating Partnership | -35,329 | 35,329 | ||||||
Accumulated other comprehensive (loss) income - derivative instruments: | ||||||||
Unrealized holding (losses) gains 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: | ||||||||
Unrealized holding gains arising during the year | 583 | 583 | ||||||
(Gains) on Sale of Securities, Net | -2,122 | -2,122 | ||||||
Currency translation adjustments arising during the year | 613 | 613 | ||||||
Noncontrolling Interest [Abstract] | ||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 1,905,353 | -538 | ||||||
Contributions - Noncontrolling Interests | 27,660 | 27,660 | ||||||
Distributions to Noncontrolling Interests | -6,490 | |||||||
Archstone of Archstone | 28,263 | |||||||
Acquisition Noncontrolling Interests - Partially Owned Properties | 0 | 0 | 0 | |||||
Other | 0 | |||||||
Balance, end of period at Dec. 31, 2013 | 50,000 | 10,612,363 | 211,412 | -155,162 | 126,583 | |||
Preference Units | ||||||||
Redemption of 6.48% Series N Cumulative Redeemable | 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 | 2,365 | -2,365 | ||||||
Issuance of OP Units | 0 | |||||||
Exercise of EQR share options | 82,573 | |||||||
EQR's Employee Share Purchase Plan (ESPP) | 3,392 | |||||||
Share-based employee compensation expense: | ||||||||
EQR restricted shares | 9,904 | |||||||
EQR share options | 7,349 | |||||||
EQR ESPP discount | 859 | |||||||
OP Units repurchased and retired | -1,777 | |||||||
Offering costs | -41 | |||||||
Premium on redemption of Preferred Shares - original issuance costs | 0 | |||||||
Net income available to Units - General Partner | 627,163 | |||||||
OP Units - General Partner distributions | -723,782 | |||||||
Supplemental Executive Retirement Plan (SERP) | 7,374 | |||||||
Acquisition of Noncontrolling Interests - Partially Owned Properties | 5,501 | -2,308 | -2,244 | |||||
Change in market value of Redeemable Limited Partners | -139,818 | |||||||
Adjustment for Limited Partners ownership in Operating Partnership | 4,992 | -4,992 | ||||||
Limited Partners' Capital Account [Abstract] | ||||||||
Issuance of OP Units to Noncontrolling Interests | 0 | |||||||
Issuance restricted units to Limited Partners | 3 | |||||||
Equity compensation associated with Units - Limited Partners | 11,969 | |||||||
Net income available to Units - Limited Partners | 24,831 | |||||||
Units - Limited Partners distributions | -28,676 | |||||||
Change in carrying value of Redeemable Limited Partners | 2,229 | |||||||
Adjustment For Limited Partners Ownership In Operating Partnership | 4,992 | -4,992 | ||||||
Accumulated other comprehensive (loss) income - derivative instruments: | ||||||||
Unrealized holding (losses) gains arising during the year | -33,306 | -33,306 | ||||||
Losses reclassified into earnings from other comprehensive income | -16,868 | 16,868 | ||||||
Accumulated other comprehensive income (loss) - other instruments: | ||||||||
Unrealized holding gains arising during the year | 0 | 0 | ||||||
(Gains) on Sale of Securities, Net | 0 | 0 | ||||||
Currency translation adjustments arising during the year | -552 | -552 | ||||||
Noncontrolling Interest [Abstract] | ||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 658,683 | 2,544 | ||||||
Contributions - Noncontrolling Interests | 5,684 | 5,684 | ||||||
Distributions to Noncontrolling Interests | -7,827 | |||||||
Archstone of Archstone | 0 | |||||||
Acquisition Noncontrolling Interests - Partially Owned Properties | 5,501 | -2,308 | -2,244 | |||||
Other | 169 | |||||||
Balance, end of period at Dec. 31, 2014 | $50,000 | $10,490,608 | $214,411 | ($172,152) | $124,909 |
Business
Business | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
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, 2014 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, 2014, the Company, directly or indirectly through investments in title holding entities, owned all or a portion of 391 properties located in 12 states and the District of Columbia consisting of 109,225 apartment units. The ownership breakdown includes (table does not include various uncompleted development properties): | |||||||
Properties | Apartment Units | ||||||
Wholly Owned Properties | 364 | 98,287 | |||||
Master-Leased Properties – Consolidated | 3 | 853 | |||||
Partially Owned Properties – Consolidated | 19 | 3,771 | |||||
Partially Owned Properties – Unconsolidated | 3 | 1,281 | |||||
Military Housing | 2 | 5,033 | |||||
391 | 109,225 | ||||||
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, 2014 | |||||||||||||
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 three unconsolidated operating properties and our military housing properties. | |||||||||||||
Real Estate Assets and Depreciation of Investment in Real Estate | |||||||||||||
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, 2014, 2013 and 2012, the Company capitalized $22.4 million, $16.5 million and $14.3 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, 2014 and 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 $37.7 million and $33.4 million at December 31, 2014 and 2013, 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, restricted units 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: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected volatility (1) | 27.00% | 26.90% | 27.40% | ||||||||||
Expected life (2) | 5 years | 5 years | 5 years | ||||||||||
Expected dividend yield (3) | 3.78% | 4.12% | 4.35% | ||||||||||
Risk-free interest rate (4) | 1.50% | 0.84% | 0.71% | ||||||||||
Option valuation per share | $9.12 | $7.90 | $8.54 | ||||||||||
-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, 2014, the Company has recorded a deferred tax asset of approximately $46.7 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, 2014, 2013 and 2012 (amounts in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income and other tax expense (benefit) (1) | $ | 1,394 | $ | 1,169 | $ | 514 | |||||||
Discontinued operations, net (2) | 8 | 449 | 34 | ||||||||||
Provision for income, franchise and excise taxes (3) | $ | 1,402 | $ | 1,618 | $ | 548 | |||||||
-1 | Primarily includes state and local income, excise and franchise taxes. | ||||||||||||
-2 | Primarily represents state and local income, excise and franchise taxes on operating properties sold prior to January 1, 2014 and included in discontinued operations. The amounts included in discontinued operations for the year ending December 31, 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the year ended December 31, 2014 met the new criteria for reporting discontinued operations. | ||||||||||||
-3 | All provisions for income tax amounts are current and none are deferred. | ||||||||||||
The Company’s TRSs have approximately $35.1 million of net operating loss ("NOL") carryforwards available as of January 1, 2015 that will expire between 2029 and 2032. | |||||||||||||
During the years ended December 31, 2014, 2013 and 2012, the Company’s tax treatment of dividends and distributions were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Tax treatment of dividends and distributions: | |||||||||||||
Ordinary dividends | $ | 1.475 | $ | 0.662 | $ | 1.375 | |||||||
Qualified dividends | 0.088 | 0.05 | — | ||||||||||
Long-term capital gain | 0.28 | 0.87 | 0.253 | ||||||||||
Unrecaptured section 1250 gain | 0.157 | 0.268 | 0.152 | ||||||||||
Dividends and distributions declared per | |||||||||||||
Common Share/Unit outstanding | $ | 2 | $ | 1.85 | $ | 1.78 | |||||||
The cost of land and depreciable property, net of accumulated depreciation, for federal income tax purposes as of December 31, 2014 and 2013 was approximately $16.7 billion and $15.2 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 3,771 apartment units and various completed and uncompleted development properties having a noncontrolling interest book value of $124.9 million at December 31, 2014. 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 $10.9 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, 2014, the Company estimates the value of Noncontrolling Interest distributions for these six properties would have been approximately $62.9 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, 2014 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, 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. | |||||||||||||
In April 2014, the Financial Accounting Standards Board (the "FASB") issued new guidance for reporting discontinued operations. Only disposals representing a strategic shift in operations that has a major effect on a company’s operations and financial results will be presented as discontinued operations. Companies will be required to expand their disclosures about discontinued operations to provide more information on the assets, liabilities, income and expenses of the discontinued operations. Companies will also be required to disclose the pre-tax income attributable to a disposal of a significant part of a company that does not qualify for discontinued operations reporting. Application of this guidance is prospective from the date of adoption and early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued. The new standard is effective January 1, 2015, but the Company early adopted it as allowed effective January 1, 2014. Adoption of this standard resulted in and will likely continue to result in substantially fewer of the Company's dispositions meeting the discontinued operations qualifications. See Note 11 for further discussion. | |||||||||||||
In May 2014, the FASB issued a comprehensive new revenue recognition standard entitled Revenue from Contracts with Customers that will supersede nearly all existing revenue recognition guidance. The new standard specifically excludes lease contracts. The new standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. Companies will likely need to use more judgment and make more estimates than under current revenue recognition guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration, if any, to include in the transaction price and allocating the transaction price to each separate performance obligation. The new standard will be effective for the Company beginning on January 1, 2017 and early adoption is not permitted. The new standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company has not yet selected a transition method and is currently evaluating the impact of adopting the new standard on its consolidated results of operations and financial position. | |||||||||||||
In August 2014, the FASB issued a new standard that will explicitly require management to assess an entity's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. In connection with each annual and interim period, management will assess whether there is substantial doubt about an entity's ability to continue as a going concern within one year after the issuance date. Disclosures will be required if conditions give rise to substantial doubt, however to determine the specific disclosures, management will need to assess whether its plans will alleviate substantial doubt. The new standard is effective for the annual period ending after December 15, 2016. The Company does not expect that this will have a material effect on its consolidated results of operations or financial position. | |||||||||||||
In February 2015, the FASB issued new consolidation guidance which makes changes to both the variable interest model and the voting model. Among other changes, the new standard specifically eliminates the presumption in the current voting model that a general partner controls a limited partnership or similar entity unless that presumption can be overcome. Generally, only a single limited partner that is able to exercise substantive kick-out rights will consolidate. The new standard will be effective for the Company beginning on January 1, 2016 and early adoption is permitted, including adoption in an interim period. The new standard must be applied using a modified retrospective approach by recording a cumulative-effect adjustment to equity/capital as of the beginning of the period of adoption or retrospectively to each period presented. The Company has not yet selected a transition method and is currently evaluating the impact of adopting the new standard on its consolidated results of operations and financial position. |
Equity_Capital_and_Other_Inter
Equity, Capital and Other Interests | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
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 restricted units (formerly known as Long-Term Incentive Plan ("LTIP") Units)) for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Common Shares | |||||||||||||||
Common Shares outstanding at January 1, | 360,479,260 | 325,054,654 | 297,508,185 | ||||||||||||
Common Shares Issued: | |||||||||||||||
Conversion of OP Units | 94,671 | 67,939 | 675,817 | ||||||||||||
Issuance of Common Shares | — | 34,468,085 | 25,023,919 | ||||||||||||
Exercise of share options | 2,086,380 | 586,017 | 1,608,427 | ||||||||||||
Employee Share Purchase Plan (ESPP) | 68,807 | 73,468 | 110,054 | ||||||||||||
Restricted share grants, net | 169,722 | 229,097 | 128,252 | ||||||||||||
Common Shares Other: | |||||||||||||||
Conversion of restricted shares to restricted units | (12,146 | ) | — | — | |||||||||||
Repurchased and retired | (31,240 | ) | — | — | |||||||||||
Common Shares outstanding at December 31, | 362,855,454 | 360,479,260 | 325,054,654 | ||||||||||||
Units | |||||||||||||||
Units outstanding at January 1, | 14,180,376 | 13,968,758 | 13,492,543 | ||||||||||||
Restricted units, net | 200,840 | 279,557 | 70,235 | ||||||||||||
OP Units issued through acquisitions | — | — | 1,081,797 | ||||||||||||
Conversion of restricted shares to restricted units | 12,146 | — | — | ||||||||||||
Conversion of OP Units to Common Shares | (94,671 | ) | (67,939 | ) | (675,817 | ) | |||||||||
Units outstanding at December 31, | 14,298,691 | 14,180,376 | 13,968,758 | ||||||||||||
Total Common Shares and Units outstanding at December 31, | 377,154,145 | 374,659,636 | 339,023,412 | ||||||||||||
Units Ownership Interest in Operating Partnership | 3.8 | % | 3.8 | % | 4.1 | % | |||||||||
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 restricted units, are collectively referred to as the “Noncontrolling Interests – Operating Partnership”. Subject to certain exceptions (including the “book-up” requirements of restricted 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, 2014 and 2013. | |||||||||||||||
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, 2014, the Redeemable Noncontrolling Interests – Operating Partnership have a redemption value of approximately $500.7 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, 2014, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Balance at January 1, | $ | 363,144 | $ | 398,372 | $ | 416,404 | |||||||||
Change in market value | 139,818 | (79,667 | ) | (38,734 | ) | ||||||||||
Change in carrying value | (2,229 | ) | 44,439 | 20,702 | |||||||||||
Balance at December 31, | $ | 500,733 | $ | 363,144 | $ | 398,372 | |||||||||
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, 2014 and 2013: | |||||||||||||||
Amounts in thousands | |||||||||||||||
Redemption | Annual | December 31, 2014 | 31-Dec-13 | ||||||||||||
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, 2014 and December 31, 2013 | |||||||||||||||
$ | 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, 2014, 2013 and 2012: | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
General and Limited Partner Units | |||||||||||||||
General and Limited Partner Units outstanding at January 1, | 374,659,636 | 339,023,412 | 311,000,728 | ||||||||||||
Issued to General Partner: | |||||||||||||||
Issuance of OP Units | — | 34,468,085 | 25,023,919 | ||||||||||||
Exercise of EQR share options | 2,086,380 | 586,017 | 1,608,427 | ||||||||||||
EQR's Employee Share Purchase Plan (ESPP) | 68,807 | 73,468 | 110,054 | ||||||||||||
EQR's restricted share grants, net | 169,722 | 229,097 | 128,252 | ||||||||||||
Issued to Limited Partners: | |||||||||||||||
Restricted units, net | 200,840 | 279,557 | 70,235 | ||||||||||||
OP Units issued through acquisitions | — | — | 1,081,797 | ||||||||||||
OP Units Other: | |||||||||||||||
Repurchased and retired | (31,240 | ) | — | — | |||||||||||
General and Limited Partner Units outstanding at December 31, | 377,154,145 | 374,659,636 | 339,023,412 | ||||||||||||
Limited Partner Units | |||||||||||||||
Limited Partner Units outstanding at January 1, | 14,180,376 | 13,968,758 | 13,492,543 | ||||||||||||
Limited Partner restricted units, net | 200,840 | 279,557 | 70,235 | ||||||||||||
Limited Partner OP Units issued through acquisitions | — | — | 1,081,797 | ||||||||||||
Conversion of EQR restricted shares to restricted units | 12,146 | — | — | ||||||||||||
Conversion of Limited Partner OP Units to EQR Common Shares | (94,671 | ) | (67,939 | ) | (675,817 | ) | |||||||||
Limited Partner Units outstanding at December 31, | 14,298,691 | 14,180,376 | 13,968,758 | ||||||||||||
Limited Partner Units Ownership Interest in Operating Partnership | 3.8 | % | 3.8 | % | 4.1 | % | |||||||||
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, 2014 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 restricted units. Subject to certain exceptions (including the “book-up” requirements of restricted 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, 2014 and 2013. | |||||||||||||||
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, 2014, the Redeemable Limited Partner Units have a redemption value of approximately $500.7 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, 2014, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Balance at January 1, | $ | 363,144 | $ | 398,372 | $ | 416,404 | |||||||||
Change in market value | 139,818 | (79,667 | ) | (38,734 | ) | ||||||||||
Change in carrying value | (2,229 | ) | 44,439 | 20,702 | |||||||||||
Balance at December 31, | $ | 500,733 | $ | 363,144 | $ | 398,372 | |||||||||
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, 2014 and 2013: | |||||||||||||||
Amounts in thousands | |||||||||||||||
Redemption | Annual | December 31, 2014 | 31-Dec-13 | ||||||||||||
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, 2014 and December 31, 2013 | |||||||||||||||
$ | 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 | |||||||||||||||
EQR and ERPOP currently have an active universal shelf registration statement for the issuance of equity and debt securities 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 Common Shares from time to time 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 Board of Trustees 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. | |||||||||||||||
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. Considering the repurchase activity for the year ended December 31, 2014 (see discussion below), EQR has remaining authorization to repurchase an additional 12,968,760 of its shares as of December 31, 2014. | |||||||||||||||
During the year ended December 31, 2014, EQR repurchased 31,240 of its Common Shares at an average price of $56.87 per share for total consideration of $1.8 million. These shares were retired subsequent to the repurchases. Concurrent with these transactions, ERPOP repurchased and retired 31,240 OP Units previously issued to EQR. All of the shares repurchased during the year ended December 31, 2014 were repurchased from employees at the then current market prices to cover the minimum statutory tax withholding obligations related to the vesting of employees' restricted shares. No shares were repurchased during the years ended December 31, 2013 and 2012. | |||||||||||||||
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, 2014, the Company acquired all of its partners' interests in one consolidated partially owned property consisting of 268 apartment units and one consolidated partially owned land parcel for $5.5 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 $2.3 million, Noncontrolling Interests – Partially Owned Properties by $2.2 million and other liabilities by $1.0 million. | |||||||||||||||
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, 2014, the Operating Partnership issued the 3.00% Series P Cumulative Redeemable Preference Units with a liquidation value of approximately $18.4 million in conjunction with the buyout of its partner's 95% interest in a previously unconsolidated development property. The Series P Preference Units are classified as a liability due in part to the fact that the holder can put the units back to the Operating Partnership for cash. Dividends are paid quarterly on the Series P Preference Units. See Note 4 for further discussion of the buyout. | |||||||||||||||
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, 2014 | |||||||||||||||||||||
Real Estate [Abstract] | |||||||||||||||||||||
Real Estate Disclosure [Text Block] | 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, 2014 and 2013 (amounts in thousands): | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Land | $ | 6,295,404 | $ | 6,192,512 | |||||||||||||||||
Depreciable property: | |||||||||||||||||||||
Buildings and improvements | 17,974,337 | 17,509,609 | |||||||||||||||||||
Furniture, fixtures and equipment | 1,365,276 | 1,214,220 | |||||||||||||||||||
In-Place lease intangibles | 511,891 | 502,218 | |||||||||||||||||||
Projects under development: | |||||||||||||||||||||
Land | 466,764 | 353,574 | |||||||||||||||||||
Construction-in-progress | 877,155 | 635,293 | |||||||||||||||||||
Land held for development: | |||||||||||||||||||||
Land | 145,366 | 341,389 | |||||||||||||||||||
Construction-in-progress | 39,190 | 52,133 | |||||||||||||||||||
Investment in real estate | 27,675,383 | 26,800,948 | |||||||||||||||||||
Accumulated depreciation | (5,432,805 | ) | (4,807,709 | ) | |||||||||||||||||
Investment in real estate, net | $ | 22,242,578 | $ | 21,993,239 | |||||||||||||||||
The following table summarizes the carrying amounts for the Company's above and below market ground and retail lease intangibles as of December 31, 2014 and 2013 (amounts in thousands): | |||||||||||||||||||||
Description | Balance Sheet Location | 2014 | 2013 | ||||||||||||||||||
Assets | |||||||||||||||||||||
Ground lease intangibles – below market | Other Assets | $ | 178,251 | $ | 178,251 | ||||||||||||||||
Retail lease intangibles – above market | Other Assets | 1,260 | 1,260 | ||||||||||||||||||
Lease intangible assets | 179,511 | 179,511 | |||||||||||||||||||
Accumulated amortization | (8,913 | ) | (4,364 | ) | |||||||||||||||||
Lease intangible assets, net | $ | 170,598 | $ | 175,147 | |||||||||||||||||
Liabilities | |||||||||||||||||||||
Ground lease intangibles – above market | Other Liabilities | $ | 2,400 | $ | 2,400 | ||||||||||||||||
Retail lease intangibles – below market | Other Liabilities | 5,270 | 5,500 | ||||||||||||||||||
Lease intangible liabilities | 7,670 | 7,900 | |||||||||||||||||||
Accumulated amortization | (2,258 | ) | (1,161 | ) | |||||||||||||||||
Lease intangible liabilities, net | $ | 5,412 | $ | 6,739 | |||||||||||||||||
During the years ended December 31, 2014 and 2013, the Company amortized approximately $4.3 million and $3.6 million, respectively, 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 $1.1 million and $2.7 million, respectively, 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): | |||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | |||||||||||||||||
Ground lease intangibles | $ | 4,321 | $ | 4,321 | $ | 4,321 | $ | 4,321 | $ | 4,321 | |||||||||||
Retail lease intangibles | (939 | ) | (896 | ) | (540 | ) | (71 | ) | (71 | ) | |||||||||||
Total | $ | 3,382 | $ | 3,425 | $ | 3,781 | $ | 4,250 | $ | 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 issuance of 21,850,000 Common Shares (which shares had a total value of approximately $1.2 billion based on a price of $54.75 per share) in the November/December 2012 public equity offering, asset sales of approximately $4.5 billion that were completed during the year ended December 31, 2013, the Company's $750.0 million unsecured term loan facility (which was subsequently paid off in the second quarter of 2014) 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 accounted for the acquisition under the acquisition method in accordance with Accounting Standards Codification ("ASC") 805, Business Combinations (“ASC 805”), and the accounting for this business combination is complete and final. 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 | 5,765,538 | ||||||||||||||||||||
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 | 230,608 | ||||||||||||||||||||
Other assets | 195,260 | ||||||||||||||||||||
Other liabilities | (108,997 | ) | |||||||||||||||||||
Net assets acquired | $ | 8,968,389 | |||||||||||||||||||
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 II of our Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on February 27, 2014. The changes to our valuation assumptions were based on more accurate information concerning the subject assets and liabilities and resulted from information not readily available at the acquisition date, final purchase price settlement with our partner in accordance with the terms of the purchase agreement and reclassification adjustments for presentation. None of these changes had a material impact on our Consolidated Financial Statements. The Company's assessment of the fair values and the allocation of the purchase price to the identified tangible and intangible assets/liabilities at March 31, 2014 was its final and best estimate of fair value. As a result, the Company did not make any changes to its allocation of fair values of the assets acquired and liabilities assumed subsequent to 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 March 31, 2014 filed with the SEC on May 8, 2014. | |||||||||||||||||||||
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 used 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, 2014, the Company has incurred cumulative Archstone-related expenses of approximately $99.0 million, of which approximately $13.5 million of this total was financing-related and approximately $85.5 million was merger costs. During the year ended December 31, 2014, the Company expensed nominal amounts of direct merger costs. During the years ended December 31, 2013 and 2012, the Company expensed $19.9 million and $5.6 million, respectively, of direct merger costs primarily related to investment banking and legal/accounting fees, which were included in other expenses in the accompanying consolidated statements of operations and comprehensive income. During the years ended December 31, 2014 and 2013, the Company also expensed $4.3 million and $54.0 million, respectively, of indirect merger costs primarily related to severance and retention obligations, office leases and German operations/sales that were incurred through our 60% interest in unconsolidated joint ventures with AVB, which were included in (loss) from investments in unconsolidated entities in the accompanying consolidated statements of operations and comprehensive income. Finally, during the years ended December 31, 2013 and 2012, the Company expensed $2.5 million and $8.4 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 (amounts in thousands, except per share amounts): | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
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 November/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 (amounts in thousands, except per Unit amounts): | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
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 November/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 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 November/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 | |||||||||||||||||||||
During the year ended December 31, 2014, 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 | 6 | 1,353 | $ | 469,850 | |||||||||||||||||
Land Parcels (two) | — | — | 28,790 | ||||||||||||||||||
Total | 6 | 1,353 | $ | 498,640 | |||||||||||||||||
The Company also acquired the 95% equity interest it did not previously own in one unconsolidated development project with an anticipated stabilized real estate value of $87.5 million at completion and an adjusted purchase price of $64.2 million. The Company paid cash of approximately $44.8 million and issued the Series P Preference Units with a liquidation value of approximately $18.4 million to complete the buyout (see Note 3). The Company recognized a revaluation loss of approximately $3.5 million, which is included in loss from investments in unconsolidated entities in the accompanying consolidated statements of operations and comprehensive income, in conjunction with this buyout. | |||||||||||||||||||||
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, 2014, the Company disposed of the following to unaffiliated parties (sales price in thousands): | |||||||||||||||||||||
Properties | Apartment Units | Sales Price | |||||||||||||||||||
Consolidated: | |||||||||||||||||||||
Rental Properties | 10 | 3,092 | $ | 466,968 | |||||||||||||||||
Land Parcels (three) | — | — | 62,602 | ||||||||||||||||||
Unconsolidated: | |||||||||||||||||||||
Rental Properties (1) | 1 | 388 | 62,500 | ||||||||||||||||||
Total | 11 | 3,480 | $ | 592,070 | |||||||||||||||||
(1) The Company owned an 85% interest in this unconsolidated rental property. Sale price listed is the gross sale price. | |||||||||||||||||||||
The Company recognized a net gain on sales of real estate properties of approximately $212.7 million, a net gain on sales of unconsolidated entities of approximately $4.9 million (included in loss from investments in unconsolidated entities in the accompanying consolidated statements of operations and comprehensive income) and a net gain on sales of land parcels of approximately $5.3 million on the above sales. | |||||||||||||||||||||
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. |
Commitments_to_AcquireDispose_
Commitments to Acquire/Dispose of Real Estate | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
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 | |||||||||
The Company has entered into separate agreements to acquire the following (purchase price in thousands): | ||||||||||
Properties | Apartment Units | Purchase Price | ||||||||
Rental Properties | 1 | 202 | $ | 131,250 | ||||||
Land Parcels (four) | — | — | 31,100 | |||||||
Total | 1 | 202 | $ | 162,350 | ||||||
In addition to the properties that were subsequently disposed of as discussed in Note 18, the Company has entered into separate agreements to dispose of the following (sales price in thousands): | ||||||||||
Properties | Apartment Units | Sales Price | ||||||||
Rental Properties (1) | 1 | 150 | $ | 169,800 | ||||||
Total | 1 | 150 | $ | 169,800 | ||||||
(1) Includes a 193,230 square foot office building under contract to be sold for approximately $123.3 million which is adjacent to our Longfellow Place property located in Boston and acquired in 1999. | ||||||||||
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, 2014 | |||||||||||||||||||||||||
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, 2014 (amounts in thousands except for project and apartment unit amounts): | |||||||||||||||||||||||||
Consolidated | Unconsolidated | ||||||||||||||||||||||||
Development Projects | Development Projects | ||||||||||||||||||||||||
Held for | Operating | Total | Completed, Not Stabilized (3) | Operating | Total | ||||||||||||||||||||
and/or Under | |||||||||||||||||||||||||
Development | |||||||||||||||||||||||||
Total projects (1) | — | 19 | 19 | 1 | 2 | 3 | |||||||||||||||||||
Total apartment units (1) | — | 3,771 | 3,771 | 444 | 837 | 1,281 | |||||||||||||||||||
Balance sheet information at 12/31/14 (at 100%): | |||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||
Investment in real estate | $ | 340,740 | $ | 682,374 | $ | 1,023,114 | $ | 155,376 | $ | 134,669 | $ | 290,045 | |||||||||||||
Accumulated depreciation | — | (194,481 | ) | (194,481 | ) | (6,921 | ) | (11,391 | ) | (18,312 | ) | ||||||||||||||
Investment in real estate, net | 340,740 | 487,893 | 828,633 | 148,455 | 123,278 | 271,733 | |||||||||||||||||||
Cash and cash equivalents | — | 19,338 | 19,338 | 2,684 | 3,172 | 5,856 | |||||||||||||||||||
Investments in unconsolidated entities | — | 51,979 | 51,979 | — | — | — | |||||||||||||||||||
Deposits – restricted | 22,706 | 300 | 23,006 | — | 214 | 214 | |||||||||||||||||||
Deferred financing costs, net | — | 2,141 | 2,141 | — | 8 | 8 | |||||||||||||||||||
Other assets | 6,658 | 26,609 | 33,267 | 529 | 691 | 1,220 | |||||||||||||||||||
Total assets | $ | 370,104 | $ | 588,260 | $ | 958,364 | $ | 151,668 | $ | 127,363 | $ | 279,031 | |||||||||||||
LIABILITIES AND EQUITY/CAPITAL | |||||||||||||||||||||||||
Mortgage notes payable (2) | $ | — | $ | 360,479 | $ | 360,479 | $ | 96,793 | $ | 78,628 | $ | 175,421 | |||||||||||||
Accounts payable & accrued expenses | 13,307 | 1,611 | 14,918 | 769 | 259 | 1,028 | |||||||||||||||||||
Accrued interest payable | — | 1,283 | 1,283 | 464 | 227 | 691 | |||||||||||||||||||
Other liabilities | 69 | 885 | 954 | 294 | 671 | 965 | |||||||||||||||||||
Security deposits | 25 | 1,954 | 1,979 | 173 | 300 | 473 | |||||||||||||||||||
Total liabilities | 13,401 | 366,212 | 379,613 | 98,493 | 80,085 | 178,578 | |||||||||||||||||||
Noncontrolling Interests – Partially Owned | 117,350 | 7,559 | 124,909 | 47,223 | 43,655 | 90,878 | |||||||||||||||||||
Properties/Partners' equity | |||||||||||||||||||||||||
Company equity/General and Limited | 239,353 | 214,489 | 453,842 | 5,952 | 3,623 | 9,575 | |||||||||||||||||||
Partners' Capital | |||||||||||||||||||||||||
Total equity/capital | 356,703 | 222,048 | 578,751 | 53,175 | 47,278 | 100,453 | |||||||||||||||||||
Total liabilities and equity/capital | $ | 370,104 | $ | 588,260 | $ | 958,364 | $ | 151,668 | $ | 127,363 | $ | 279,031 | |||||||||||||
Consolidated | Unconsolidated | ||||||||||||||||||||||||
Development Projects | Development Projects | ||||||||||||||||||||||||
Held for | Operating | ||||||||||||||||||||||||
and/or Under | Completed, Not Stabilized (3) | ||||||||||||||||||||||||
Development | Operating | Total | Total | ||||||||||||||||||||||
Operating information for the year ended 12/31/14 (at 100%): | |||||||||||||||||||||||||
Operating revenue | $ | 22 | $ | 88,157 | $ | 88,179 | $ | 10,182 | $ | 15,160 | $ | 25,342 | |||||||||||||
Operating expenses | 91 | 25,674 | 25,765 | 3,781 | 6,818 | 10,599 | |||||||||||||||||||
Net operating (loss) income | (69 | ) | 62,483 | 62,414 | 6,401 | 8,342 | 14,743 | ||||||||||||||||||
Depreciation | — | 21,679 | 21,679 | 6,512 | 5,800 | 12,312 | |||||||||||||||||||
General and administrative/other | 1 | 116 | 117 | 1 | 209 | 210 | |||||||||||||||||||
Operating (loss) income | (70 | ) | 40,688 | 40,618 | (112 | ) | 2,333 | 2,221 | |||||||||||||||||
Interest and other income | — | 11 | 11 | — | — | — | |||||||||||||||||||
Other expenses | — | (54 | ) | (54 | ) | — | — | — | |||||||||||||||||
Interest: | |||||||||||||||||||||||||
Expense incurred, net | — | (15,626 | ) | (15,626 | ) | (5,296 | ) | (3,831 | ) | (9,127 | ) | ||||||||||||||
Amortization of deferred financing costs | — | (355 | ) | (355 | ) | — | (2 | ) | (2 | ) | |||||||||||||||
(Loss) income before income and other taxes and (loss) | (70 | ) | 24,664 | 24,594 | (5,408 | ) | (1,500 | ) | (6,908 | ) | |||||||||||||||
from investments in unconsolidated entities | |||||||||||||||||||||||||
Income and other tax (expense) benefit | — | (36 | ) | (36 | ) | (7 | ) | — | (7 | ) | |||||||||||||||
(Loss) from investments in unconsolidated entities | — | (1,593 | ) | (1,593 | ) | — | — | — | |||||||||||||||||
Net (loss) income | $ | (70 | ) | $ | 23,035 | $ | 22,965 | $ | (5,415 | ) | $ | (1,500 | ) | $ | (6,915 | ) | |||||||||
-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. | ||||||||||||||||||||||||
-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 $74.6 million at December 31, 2014. The ventures are owned 60% by the Company and 40% by AVB. | ||||||||||||||||||||||||
During the year ended December 31, 2014, the Company and its joint venture partners sold one consolidated partially owned land parcel and recognized a net gain on the sale of approximately $1.1 million as well as one unconsolidated partially owned property consisting of 388 apartment units and recognized a net gain on the sale of approximately $4.9 million. | |||||||||||||||||||||||||
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 $124.9 million at December 31, 2014. The Company does not have any VIEs. | |||||||||||||||||||||||||
Archstone Acquisition | |||||||||||||||||||||||||
On February 27, 2013, in conjunction with the Archstone Acquisition, the Company acquired interests in certain joint ventures. Details of these interests follow by project: | |||||||||||||||||||||||||
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. | |||||||||||||||||||||||||
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 $30.0 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. | |||||||||||||||||||||||||
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, such as interests in a four property 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 $147.6 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. | |||||||||||||||||||||||||
During the year ended December 31, 2014, the Company closed on the sale of its unconsolidated interest in the German portfolio fund, the German management company and the remaining wholly-owned German real estate assets. With these sales, all German real estate assets that were acquired by the Residual JV as part of the Archstone Acquisition have now been sold. The Company's pro rata share of the proceeds/distributions that have been repatriated to the Residual JV and received by the Company as a result of the German dispositions was approximately $79.6 million during the year ended December 31, 2014 and $98.5 million cumulatively since the closing of the Archstone Acquisition. | |||||||||||||||||||||||||
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 the Legacy JV. At December 31, 2014, the remaining preferred interests have an aggregate liquidation value of $74.6 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, 2014, the Company's and Toll Brothers' consolidated contributions to the joint venture were approximately $336.9 million, of which Toll Brothers' noncontrolling interest balance totaled $117.4 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 completed and stabilized during the quarter ended September 30, 2014. Total project costs were approximately $78.6 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 $48.7 million and a current unconsolidated outstanding balance of $48.6 million; the loan bears interest at 5.60% and matures January 1, 2021. | ||||||||||||||||||||||||
• | Domain – This development project is substantially complete. Total project costs are expected to be approximately $155.8 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 $96.8 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, 2014 | |||||||||
Deposits - Restricted [Abstract] | |||||||||
Restricted Cash And Cash Equivalents Disclosure [Text Block] | |||||||||
7 | Deposits – Restricted and Escrow Deposits – Mortgage | ||||||||
The following table presents the Company’s restricted deposits as of December 31, 2014 and 2013 (amounts in thousands): | |||||||||
December 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Earnest money on pending acquisitions | $ | 580 | $ | 4,514 | |||||
Restricted deposits on real estate investments | 24,701 | 53,771 | |||||||
Resident security and utility deposits | 46,516 | 44,777 | |||||||
Other | 506 | 505 | |||||||
Totals | $ | 72,303 | $ | 103,567 | |||||
The following table presents the Company’s escrow deposits as of December 31, 2014 and 2013 (amounts in thousands): | |||||||||
December 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Real estate taxes and insurance | $ | 2,235 | $ | 3,687 | |||||
Replacement reserves | 3,431 | 4,229 | |||||||
Mortgage principal reserves/sinking funds | 41,567 | 33,868 | |||||||
Other | 852 | 852 | |||||||
Totals | $ | 48,085 | $ | 42,636 | |||||
Debt
Debt | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
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 revolving credit facility up to the maximum amount and for the full term of the facility. | |||||||||||
Mortgage Notes Payable | |||||||||||
As of December 31, 2014, the Company had outstanding mortgage debt of approximately $5.1 billion. | |||||||||||
During the year ended December 31, 2014, the Company: | |||||||||||
▪ | Repaid $100.7 million of mortgage loans; and | ||||||||||
▪ | Assumed $28.9 million of mortgage debt on one acquired property. | ||||||||||
The Company recorded approximately $0.3 million of prepayment penalties during the year ended December 31, 2014 as additional interest expense related to debt extinguishment of mortgages. The Company also recorded $1.9 million of write-offs of net unamortized premiums during the year ended December 31, 2014 as a reduction of interest expense related to debt extinguishment of mortgages. | |||||||||||
As of December 31, 2014, the Company had $700.5 million of secured debt subject to third party credit enhancement. | |||||||||||
As of December 31, 2014, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through May 1, 2061. At December 31, 2014, the interest rate range on the Company’s mortgage debt was 0.03% to 7.25% . During the year ended December 31, 2014, the weighted average interest rate on the Company’s mortgage debt was 4.21% . | |||||||||||
The historical cost, net of accumulated depreciation, of encumbered properties was $6.9 billion and $7.3 billion at December 31, 2014 and 2013, respectively. | |||||||||||
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 Archstone Transaction mortgage debt described 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). | |||||||||||
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, 2014 and 2013, respectively: | |||||||||||
31-Dec-14 | Net Principal Balance | Interest Rate Ranges | Weighted Average Interest Rate | Maturity Date Ranges | |||||||
(Amounts in thousands) | |||||||||||
Fixed Rate Public Notes (1) | $ | 4,974,154 | 3.00% - 7.57% | 5.45% | 2015 - 2044 | ||||||
Floating Rate Public Notes (1) | 451,192 | -1 | 1.15% | 2019 | |||||||
Totals | $ | 5,425,346 | |||||||||
31-Dec-13 | Net Principal Balance | Interest Rate Ranges | Weighted Average Interest Rate | Maturity Date Ranges | |||||||
(Amounts in thousands) | |||||||||||
Fixed Rate Public/Private Notes | $ | 4,727,088 | 3.00% - 7.57% | 5.55% | 2014 - 2026 | ||||||
Floating Rate Public/Private Notes (2) | 750,000 | -2 | 1.58% | 2015 | |||||||
Totals | $ | 5,477,088 | |||||||||
-1 | Fair value interest rate swaps convert the $450.0 million 2.375% notes due July 1, 2019 to a floating interest rate of 90-Day LIBOR plus 0.61%. | ||||||||||
-2 | Includes the Company's senior unsecured $750.0 million term loan facility that was to mature on January 11, 2015 and was paid off in the second quarter of 2014. The interest rate on advances under the term loan facility was generally LIBOR plus a spread (1.20%), which was 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, 2014 and 2013. | |||||||||||
EQR and ERPOP currently have an active universal shelf registration statement for the issuance of equity and debt securities 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, 2014, the Company: | |||||||||||
▪ | Repaid $500.0 million of 5.250% unsecured notes at maturity; | ||||||||||
▪ | Repaid its $750.0 million unsecured term loan facility in conjunction with the note issuances discussed below and wrote-off approximately $0.6 million of unamortized deferred financing costs as additional interest expense; | ||||||||||
▪ | Issued $450.0 million of five-year 2.375% fixed rate public notes, receiving net proceeds of $449.6 million before underwriting fees and other expenses, at an all-in effective interest rate of 2.52% and swapped the notes to a floating interest rate in conjunction with the issuance (see Note 9 for further discussion); and | ||||||||||
▪ | Issued $750.0 million of thirty-year 4.50% fixed rate public notes, receiving net proceeds of $744.7 million before underwriting fees, hedge termination costs and other expenses, at an all-in effective interest rate of 4.57% after termination of various forward starting swaps in conjunction with the issuance (see Note 9 for further discussion). | ||||||||||
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 was subject to a one-year extension option exercisable by the Company. The interest rate on advances under the term loan facility was generally LIBOR plus a spread (1.20%), which was dependent on the credit rating of the Company's long-term debt. This facility was paid off in the second quarter of 2014. | ||||||||||
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. | |||||||||||
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 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, 2014, the amount available on the credit facility was $2.12 billion (net of $43.8 million which was restricted/dedicated to support letters of credit and net of $333.0 million outstanding). During the year ended December 31, 2014, the weighted average interest rate was 0.95%. 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%. | |||||||||||
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) | ||||||||||
2015 | $ | 408,420 | |||||||||
2016 | 1,192,798 | ||||||||||
2017 | 1,346,708 | ||||||||||
2018 | 514,510 | ||||||||||
2019 | 1,278,469 | ||||||||||
Thereafter | 6,135,842 | ||||||||||
Net Unamortized (Discount) | (31,886 | ) | |||||||||
Total | $ | 10,844,861 | |||||||||
-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, 2014 | |||||||||||||||||||
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. | |||||||||||||||||||
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. | |||||||||||||||||||
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 sheets. 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 carrying values of the Company’s mortgage notes payable and unsecured debt (including its line of credit) were approximately $5.1 billion and $5.8 billion, respectively, at December 31, 2014. 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 $6.1 billion (Level 2), respectively, at December 31, 2014. 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 fair values of the Company’s financial instruments (other than mortgage notes payable, unsecured notes, lines of credit and derivative instruments), including cash and cash equivalents and other financial instruments, approximate their carrying or contract values. | |||||||||||||||||||
The following table summarizes the Company’s consolidated derivative instruments at December 31, 2014 (dollar amounts are in thousands): | |||||||||||||||||||
Fair Value | Forward | ||||||||||||||||||
Hedges (1) | Starting | ||||||||||||||||||
Swaps (2) | |||||||||||||||||||
Current Notional Balance | $ | 450,000 | $ | 400,000 | |||||||||||||||
Lowest Possible Notional | $ | 450,000 | $ | 400,000 | |||||||||||||||
Highest Possible Notional | $ | 450,000 | $ | 400,000 | |||||||||||||||
Lowest Interest Rate | 2.375 | % | 2.274 | % | |||||||||||||||
Highest Interest Rate | 2.375 | % | 3.191 | % | |||||||||||||||
Earliest Maturity Date | 2019 | 2025 | |||||||||||||||||
Latest Maturity Date | 2019 | 2025 | |||||||||||||||||
-1 | Fair Value Hedges – Converts outstanding fixed rate unsecured notes ($450.0 million 2.375% notes due July 1, 2019) to a floating interest rate of 90-Day LIBOR plus 0.61%. | ||||||||||||||||||
-2 | Forward Starting Swaps – Designed to partially fix interest rates in advance of a planned future debt issuance. These swaps have mandatory counterparty terminations in 2016, and are targeted to 2015 issuances. | ||||||||||||||||||
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, 2014 and 2013, 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 | 12/31/14 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets | |||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||
Fair Value Hedges | Other Assets | $ | 1,597 | $ | — | $ | 1,597 | $ | — | ||||||||||
Forward Starting Swaps | Other Assets | 332 | — | 332 | — | ||||||||||||||
Supplemental Executive Retirement Plan | Other Assets | 104,463 | 104,463 | — | — | ||||||||||||||
Total | $ | 106,392 | $ | 104,463 | $ | 1,929 | $ | — | |||||||||||
Liabilities | |||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||
Forward Starting Swaps | Other Liabilities | $ | 14,104 | $ | — | $ | 14,104 | $ | — | ||||||||||
Supplemental Executive Retirement Plan | Other Liabilities | 104,463 | 104,463 | — | — | ||||||||||||||
Total | $ | 118,567 | $ | 104,463 | $ | 14,104 | $ | — | |||||||||||
Redeemable Noncontrolling Interests – | |||||||||||||||||||
Operating Partnership/Redeemable | |||||||||||||||||||
Limited Partners | Mezzanine | $ | 500,733 | $ | — | $ | 500,733 | $ | — | ||||||||||
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 | $ | 18,710 | $ | — | $ | 18,710 | $ | — | ||||||||||
Supplemental Executive Retirement Plan | Other Assets | 83,845 | 83,845 | — | — | ||||||||||||||
Total | $ | 102,555 | $ | 83,845 | $ | 18,710 | $ | — | |||||||||||
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 | $ | — | ||||||||||
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, 2014, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||||||
December 31, 2014 | Location of Gain/(Loss) Recognized in Income on Derivative | Amount of Gain/(Loss) Recognized in Income on Derivative | Income Statement Location of Hedged Item Gain/(Loss) | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||
Type of Fair Value Hedge | Hedged Item | on Hedged Item | |||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||
Interest Rate Swaps | Interest expense | $ | 1,597 | Fixed rate debt | Interest expense | $ | (1,597 | ) | |||||||||||
Total | $ | 1,597 | $ | (1,597 | ) | ||||||||||||||
December 31, 2013 | Location of Gain/(Loss) Recognized in Income on Derivative | Amount of Gain/(Loss) Recognized in Income on Derivative | Income Statement Location of Hedged Item Gain/(Loss) | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||
Type of Fair Value Hedge | Hedged Item | 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 on Derivative | Amount of Gain/(Loss) Recognized in Income on Derivative | Income Statement Location of Hedged Item Gain/(Loss) | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||
Type of Fair Value Hedge | Hedged Item | 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 | ||||||||||||||
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, 2014, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||||||
Effective Portion | Ineffective Portion | ||||||||||||||||||
December 31, 2014 | Amount of | Location of Gain/(Loss) | Amount of Gain/(Loss) | Location of | Amount of Gain/(Loss) | ||||||||||||||
Type of Cash Flow Hedge | Gain/(Loss) Recognized in OCI on Derivative | Reclassified from Accumulated OCI into Income | Reclassified from Accumulated OCI into Income | Gain/(Loss) Recognized in Income on Derivative | Reclassified from Accumulated OCI into Income | ||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||
Forward Starting Swaps | $ | (33,215 | ) | Interest expense | $ | (16,868 | ) | Interest expense | $ | 91 | |||||||||
Total | $ | (33,215 | ) | $ | (16,868 | ) | $ | 91 | |||||||||||
Effective Portion | Ineffective Portion | ||||||||||||||||||
December 31, 2013 | Amount of | Location of Gain/(Loss) | Amount of Gain/(Loss) | Location of | Amount of Gain/(Loss) | ||||||||||||||
Type of Cash Flow Hedge | Gain/(Loss) Recognized in OCI on Derivative | Reclassified from Accumulated OCI into Income | Reclassified from Accumulated OCI into Income | Gain/(Loss) Recognized in Income on Derivative | Reclassified from Accumulated OCI 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) | ||||||||||||||
Type of Cash Flow Hedge | Gain/(Loss) Recognized in OCI on Derivative | Reclassified from Accumulated OCI into Income | Reclassified from Accumulated OCI into Income | Gain/(Loss) Recognized in Income on Derivative | Reclassified from Accumulated OCI 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 | ) | $ | — | |||||||||||
As of December 31, 2014 and 2013, there were approximately $172.2 million and $155.8 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, 2014, the Company may recognize an estimated $22.0 million of accumulated other comprehensive (loss) as additional interest expense during the year ending December 31, 2015. | |||||||||||||||||||
In June 2014, the Company paid a net $2.0 million to settle seven forward starting ten-year swaps in conjunction with the issuance of $750.0 million of thirty-year fixed rate public notes. The ineffective portion of approximately $0.1 million was recorded as a decrease to interest expense and accrued interest of approximately $1.3 million was recorded as an increase to interest expense. The remaining amount of approximately $0.8 million will be deferred as a component of accumulated other comprehensive (loss) and recognized as an increase to interest expense over the first nine years and ten months of the notes. | |||||||||||||||||||
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. | |||||||||||||||||||
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, 2014 | ||||||||||||
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, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Numerator for net income per share – basic: | ||||||||||||
Income (loss) from continuing operations | $ | 657,101 | $ | (168,174 | ) | $ | 160,298 | |||||
Allocation to Noncontrolling Interests – Operating Partnership, net | (24,771 | ) | 6,834 | (6,417 | ) | |||||||
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties | (2,544 | ) | 538 | (844 | ) | |||||||
Preferred distributions | (4,145 | ) | (4,145 | ) | (10,355 | ) | ||||||
Premium on redemption of Preferred Shares | — | — | (5,152 | ) | ||||||||
Income (loss) from continuing operations available to Common Shares, net of | 625,641 | (164,947 | ) | 137,530 | ||||||||
Noncontrolling Interests | ||||||||||||
Discontinued operations, net of Noncontrolling Interests | 1,522 | 1,991,415 | 688,682 | |||||||||
Numerator for net income per share – basic | $ | 627,163 | $ | 1,826,468 | $ | 826,212 | ||||||
Numerator for net income per share – diluted (1): | ||||||||||||
Income from continuing operations | $ | 657,101 | $ | 160,298 | ||||||||
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties | (2,544 | ) | (844 | ) | ||||||||
Preferred distributions | (4,145 | ) | (10,355 | ) | ||||||||
Premium on redemption of Preferred Shares | — | (5,152 | ) | |||||||||
Income from continuing operations available to Common Shares | 650,412 | 143,947 | ||||||||||
Discontinued operations, net | 1,582 | 720,906 | ||||||||||
Numerator for net income per share – diluted (1) | $ | 651,994 | $ | 1,826,468 | $ | 864,853 | ||||||
Denominator for net income per share – basic and diluted (1): | ||||||||||||
Denominator for net income per share – basic | 361,181 | 354,305 | 302,701 | |||||||||
Effect of dilutive securities: | ||||||||||||
OP Units | 13,718 | 13,853 | ||||||||||
Long-term compensation shares/units | 2,836 | 3,212 | ||||||||||
Denominator for net income per share – diluted (1) | 377,735 | 354,305 | 319,766 | |||||||||
Net income per share – basic | $ | 1.74 | $ | 5.16 | $ | 2.73 | ||||||
Net income per share – diluted | $ | 1.73 | $ | 5.16 | $ | 2.7 | ||||||
Net income per share – basic: | ||||||||||||
Income (loss) from continuing operations available to Common Shares, net of | $ | 1.732 | $ | (0.466 | ) | $ | 0.454 | |||||
Noncontrolling Interests | ||||||||||||
Discontinued operations, net of Noncontrolling Interests | 0.004 | 5.621 | 2.275 | |||||||||
Net income per share – basic | $ | 1.736 | $ | 5.155 | $ | 2.729 | ||||||
Net income per share – diluted (1): | ||||||||||||
Income (loss) from continuing operations available to Common Shares | $ | 1.722 | $ | (0.466 | ) | $ | 0.45 | |||||
Discontinued operations, net | 0.004 | 5.621 | 2.255 | |||||||||
Net income per share – diluted | $ | 1.726 | $ | 5.155 | $ | 2.705 | ||||||
-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 year ended December 31, 2013. | |||||||||||
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, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Numerator for net income per Unit – basic and diluted (1): | ||||||||||||
Income (loss) from continuing operations | $ | 657,101 | $ | (168,174 | ) | $ | 160,298 | |||||
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties | (2,544 | ) | 538 | (844 | ) | |||||||
Allocation to Preference Units | (4,145 | ) | (4,145 | ) | (10,355 | ) | ||||||
Allocation to premium on redemption of Preference Units | — | — | (5,152 | ) | ||||||||
Income (loss) from continuing operations available to Units | 650,412 | (171,781 | ) | 143,947 | ||||||||
Discontinued operations, net | 1,582 | 2,073,527 | 720,906 | |||||||||
Numerator for net income per Unit – basic and diluted (1) | $ | 651,994 | $ | 1,901,746 | $ | 864,853 | ||||||
Denominator for net income per Unit – basic and diluted (1): | ||||||||||||
Denominator for net income per Unit – basic | 374,899 | 368,038 | 316,554 | |||||||||
Effect of dilutive securities: | ||||||||||||
Dilution for Units issuable upon assumed exercise/vesting of the Company's | 2,836 | 3,212 | ||||||||||
long-term compensation shares/units | ||||||||||||
Denominator for net income per Unit – diluted (1) | 377,735 | 368,038 | 319,766 | |||||||||
Net income per Unit – basic | $ | 1.74 | $ | 5.16 | $ | 2.73 | ||||||
Net income per Unit – diluted | $ | 1.73 | $ | 5.16 | $ | 2.7 | ||||||
Net income per Unit – basic: | ||||||||||||
Income (loss) from continuing operations available to Units | $ | 1.732 | $ | (0.466 | ) | $ | 0.454 | |||||
Discontinued operations, net | 0.004 | 5.621 | 2.275 | |||||||||
Net income per Unit – basic | $ | 1.736 | $ | 5.155 | $ | 2.729 | ||||||
Net income per Unit – diluted (1): | ||||||||||||
Income (loss) from continuing operations available to Units | $ | 1.722 | $ | (0.466 | ) | $ | 0.45 | |||||
Discontinued operations, net | 0.004 | 5.621 | 2.255 | |||||||||
Net income per Unit – diluted | $ | 1.726 | $ | 5.155 | $ | 2.705 | ||||||
-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 year ended December 31, 2013. | |||||||||||
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, 2014 | ||||||||||||
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, for properties sold in 2013 and prior years. The amounts included in discontinued operations for the year ended December 31, 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the year ended December 31, 2014 met the new criteria for reporting discontinued operations. See Note 2 for further discussion. | ||||||||||||
The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets for properties sold in 2013 and prior years during each of the years ended December 31, 2014, 2013 and 2012 (amounts in thousands). | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
REVENUES | ||||||||||||
Rental income | $ | 1,309 | $ | 121,942 | $ | 445,832 | ||||||
Total revenues | 1,309 | 121,942 | 445,832 | |||||||||
EXPENSES (1) | ||||||||||||
Property and maintenance | (141 | ) | 36,792 | 103,371 | ||||||||
Real estate taxes and insurance | 267 | 11,903 | 41,208 | |||||||||
Property management | — | 1 | 211 | |||||||||
Depreciation | — | 34,380 | 124,323 | |||||||||
General and administrative | 89 | 85 | 92 | |||||||||
Total expenses | 215 | 83,161 | 269,205 | |||||||||
Discontinued operating income | 1,094 | 38,781 | 176,627 | |||||||||
Interest and other income | 317 | 217 | 156 | |||||||||
Other expenses | — | (3 | ) | (170 | ) | |||||||
Interest (2): | ||||||||||||
Expense incurred, net | — | (1,296 | ) | (3,811 | ) | |||||||
Amortization of deferred financing costs | — | (228 | ) | (140 | ) | |||||||
Income and other tax (expense) benefit | (8 | ) | (449 | ) | (34 | ) | ||||||
Discontinued operations | 1,403 | 37,022 | 172,628 | |||||||||
Net gain on sales of discontinued operations | 179 | 2,036,505 | 548,278 | |||||||||
Discontinued operations, net | $ | 1,582 | $ | 2,073,527 | $ | 720,906 | ||||||
-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
Share Incentive Plans | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Share-based Compensation [Abstract] | |||||||||||||||||||||
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 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. As of December 31, 2014, 8,516,934 shares were available for future issuance. | |||||||||||||||||||||
Pursuant to the 2011 Plan and the 2002 Share Incentive Plan, as restated and 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, restricted units and performance shares 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 restated and amended, will terminate at such time 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, 2014 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 restricted units (formerly known as long-term incentive plan units) to officers of the Company as an alternative to the Company’s restricted shares. The 2011 Plan also allows for the issuance of restricted units. Restricted 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 restricted units. In January 2011 and March 2014, certain holders of restricted shares converted these shares into restricted units. Similar to restricted shares, restricted 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, restricted unit holders receive quarterly dividend payments on their restricted units at the same rate and on the same date as any other OP Unit holder. As a result, dividends paid on restricted 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 restricted units are generally canceled. A restricted unit will automatically convert to an OP Unit when the capital account of each restricted unit increases (“books-up”) to a specified target. If the capital target is not attained within ten years following the date of issuance, the restricted unit will automatically be canceled and no compensation will be payable to the holder of such canceled restricted 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, restricted 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, restricted 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 restricted 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, restricted units, share options and Employee Share Purchase Plan (“ESPP”) for the three years ended December 31, 2014, 2013 and 2012 (amounts in thousands): | |||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||
Compensation | Compensation | Compensation | Dividends | ||||||||||||||||||
Expense | Capitalized | Equity | Incurred | ||||||||||||||||||
Restricted shares | $ | 9,244 | $ | 660 | $ | 9,904 | $ | 1,012 | |||||||||||||
Restricted units | 11,049 | 920 | 11,969 | 1,248 | |||||||||||||||||
Share options | 6,453 | 896 | 7,349 | — | |||||||||||||||||
ESPP discount | 797 | 62 | 859 | — | |||||||||||||||||
Total | $ | 27,543 | $ | 2,538 | $ | 30,081 | $ | 2,260 | |||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Compensation | Compensation | Compensation | Dividends | ||||||||||||||||||
Expense | Capitalized | Equity | Incurred | ||||||||||||||||||
Restricted shares | $ | 12,185 | $ | 1,079 | $ | 13,264 | $ | 967 | |||||||||||||
Restricted 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 | |||||||||||||
Restricted 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 | |||||||||||||
Compensation expense is generally recognized for Awards as follows: | |||||||||||||||||||||
• | Restricted shares, restricted 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, 2014 is $13.5 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 1.31 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, 2014, 2013 and 2012: | |||||||||||||||||||||
Common | Weighted | Restricted | Weighted | Restricted | Weighted | ||||||||||||||||
Shares Subject | Average | Shares | Average Fair | Units | Average Fair | ||||||||||||||||
to Options | Exercise Price | Value per | Value per | ||||||||||||||||||
per Option | Restricted Share | Restricted Unit | |||||||||||||||||||
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 | |||||||||||||||
Awards granted (1) | 667,877 | $56.72 | 176,457 | $56.56 | 201,507 | $53.82 | |||||||||||||||
Awards exercised/vested (2) (3) (4) | (2,086,380 | ) | $39.34 | (175,344 | ) | $53.44 | (60,294 | ) | $53.71 | ||||||||||||
Awards forfeited | (19,022 | ) | $56.32 | (6,735 | ) | $56.57 | (667 | ) | $52.08 | ||||||||||||
Awards expired | (2,387 | ) | $55.24 | — | — | — | — | ||||||||||||||
Conversion of restricted shares | — | — | (12,146 | ) | — | 12,146 | — | ||||||||||||||
to restricted units | |||||||||||||||||||||
Balance at December 31, 2014 | 7,030,620 | $46.16 | 482,466 | $56.89 | 623,948 | $53.38 | |||||||||||||||
-1 | The weighted average grant date fair value for Options granted during the years ended December 31, 2014, 2013 and 2012 was $9.21 per share, $7.97 per share and $8.55 per share, respectively. | ||||||||||||||||||||
-2 | The aggregate intrinsic value of options exercised during the years ended December 31, 2014, 2013 and 2012 was $50.8 million, $16.7 million and $46.7 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, 2014, 2013 and 2012 was $10.2 million, $13.9 million and $18.0 million, respectively. | ||||||||||||||||||||
-4 | The fair value of restricted units vested during the years ended December 31, 2014, 2013 and 2012 was $3.2 million, $5.1 million and $9.1 million, respectively. | ||||||||||||||||||||
The following table summarizes information regarding options outstanding and exercisable at December 31, 2014: | |||||||||||||||||||||
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 | 988,826 | 4.09 | $23.07 | 988,826 | $23.07 | ||||||||||||||||
$31.17 to $37.39 | 1,091,358 | 3.61 | $32.61 | 1,091,358 | $32.61 | ||||||||||||||||
$37.40 to $43.62 | 702,568 | 2.36 | $40.12 | 702,568 | $40.12 | ||||||||||||||||
$43.63 to $49.86 | 24,628 | 5.83 | $48.63 | 24,628 | $48.63 | ||||||||||||||||
$49.87 to $56.09 | 2,343,836 | 6.21 | $53.93 | 1,387,110 | $53.85 | ||||||||||||||||
$56.10 to $62.32 | 1,879,404 | 7.87 | $58.72 | 817,294 | $59.84 | ||||||||||||||||
$18.70 to $62.32 | 7,030,620 | 5.57 | $46.16 | 5,011,784 | $42.18 | ||||||||||||||||
Vested and expected to vest | 6,590,486 | 5.34 | $45.50 | ||||||||||||||||||
as of December 31, 2014 | |||||||||||||||||||||
-1 | The aggregate intrinsic value of options outstanding that are vested and expected to vest as of December 31, 2014 is $180.5 million. | ||||||||||||||||||||
-2 | The aggregate intrinsic value and weighted average remaining contractual life in years of options exercisable as of December 31, 2014 is $148.7 million and 4.6 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 $71.84 per share on December 31, 2014 and the strike price of the underlying awards. | |||||||||||||||||||||
As of December 31, 2013 and 2012, 6,046,489 Options (with a weighted average exercise price of $38.76) and 5,385,907 Options (with a weighted average exercise price of $35.40) were exercisable, respectively. |
Employee_Plans
Employee Plans | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
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 3,038,534 Common Shares available for purchase under the ESPP at December 31, 2014. 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, | ||||||
2014 | 2013 | 2012 | ||||
(Amounts in thousands except share and per share amounts) | ||||||
Shares issued | 68,807 | 73,468 | 110,054 | |||
Issuance price ranges | $45.90 – $55.95 | $44.26 – $48.17 | $46.33 – $51.78 | |||
Issuance proceeds | $3,392 | $3,401 | $5,399 | |||
The Company established a defined contribution plan (the “401(k) Plan”) to provide retirement benefits for employees that meet minimum employment criteria. Prior to 2014, the Company matched dollar for dollar up to the first 3% of eligible compensation that a participant contributed to the 401(k) Plan. Beginning January 1, 2014, the Company increased its match to 4% of eligible compensation that a participant contributes to the 401(k) Plan for all employees except those defined as highly compensated employees, whose match remains at 3%. Participants are vested in the Company’s contributions over five years. The Company recognized an expense in the amount of $5.2 million, $4.2 million and $4.4 million for the years ended December 31, 2014, 2013 and 2012, 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, 2014 | ||
Distribution Reinvestment and Share Purchase Plan [Abstract] | ||
Distribution Reinvestment and Share Purchase Plan | ||
14 | Distribution Reinvestment Plan | |
On November 18, 2011, the Company filed with the SEC a Form S-3 Registration Statement to register 4,850,000 Common Shares pursuant to a Distribution Reinvestment and Share Purchase Plan (the "2011 DRIP"), which included the remaining shares available for issuance under a 2008 registration, which terminated as of such date. The registration statement was automatically declared effective the same day and was to expire at the earlier of the date on which all 4,850,000 shares have been issued or November 18, 2014. On September 30, 2014, the Company filed with the SEC a Form S-3 Registration Statement to register 4,790,000 Common Shares under an amended Distribution Reinvestment Plan (the "2014 DRIP"), which included the remaining shares available for issuance under the 2011 DRIP, which terminated as of such date. The registration was automatically declared effective the same day and will expire when all 4,790,000 shares have been issued. The Company has 4,786,788 Common Shares available for issuance under the 2014 DRIP at December 31, 2014. | ||
The 2014 DRIP provides holders of record and beneficial owners of Common Shares and Preferred Shares with a simple and convenient method of reinvesting cash dividends/distributions in additional Common Shares. Common Shares purchased under the 2014 DRIP 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, 2014 | ||
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, 2014, 2013 and 2012, respectively, were approximately $2.5 million, $1.7 million and $1.3 million. The Company believes these amounts equal market rates for such rental space. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
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, 2014. 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 has established a reserve related to various litigation matters associated with its Massachusetts properties and periodically assesses the adequacy of the reserve and makes adjustments as necessary. During the year ended December 31, 2014, the Company recorded additional reserves relating to these matters of approximately $4.0 million, resulting in total reserves of approximately $6.0 million at December 31, 2014. While no assurances can be given, the Company does not believe that the ultimate resolution of these litigation matters, 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, 2014, the Company has 15 consolidated projects (including Prism at Park Avenue South in New York City, which the Company is jointly developing with Toll Brothers as discussed below) totaling 4,917 apartment units in various stages of development with commitments to fund of approximately $1.2 billion and estimated completion dates ranging through September 30, 2017, 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, 2014, the Company has one completed unconsolidated development project that is currently in lease up as well as one other completed development project that is stabilized. Both projects were co-developed with the same third party development partner in different ventures. The development venture agreements with this partner are primarily deal-specific regarding profit-sharing, equity contributions, returns on investment, buy-sell agreements and other customary provisions. The Company currently has no further funding obligations related to these projects. 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 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. | |||||||||||||||||||||||||||||
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, 2014, the Company's and Toll Brothers' consolidated contributions to the joint venture were approximately $336.9 million, of which Toll Brothers' noncontrolling interest balance totaled $117.4 million. | |||||||||||||||||||||||||||||
During the years ended December 31, 2014, 2013 and 2012, 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 $14.7 million, $13.2 million and $8.1 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, 2014, 2013 and 2012, the Company recognized compensation expense of $0.5 million, $0.5 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, 2014: | |||||||||||||||||||||||||||||
(Payments)/Receipts Due by Year (in thousands) | |||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||||
Operating Leases: | |||||||||||||||||||||||||||||
Minimum Rent Payments (a) | $ | (15,268 | ) | $ | (15,385 | ) | $ | (15,318 | ) | $ | (15,298 | ) | $ | (15,224 | ) | $ | (860,071 | ) | $ | (936,564 | ) | ||||||||
Minimum Rent Receipts (b) | 65,087 | 58,860 | 53,448 | 43,987 | 37,545 | 192,455 | 451,382 | ||||||||||||||||||||||
Other Long-Term Liabilities: | |||||||||||||||||||||||||||||
Deferred Compensation (c) | (1,382 | ) | (1,714 | ) | (1,714 | ) | (1,714 | ) | (1,120 | ) | (5,149 | ) | (12,793 | ) | |||||||||||||||
(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) | Minimum basic rent receipts due for various retail/commercial space where the Company is the lessor. | ||||||||||||||||||||||||||||
(c) | 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, 2014 | |||||||||||||||||||||||||||||||||||||
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, 2014, 2013 or 2012. | |||||||||||||||||||||||||||||||||||||
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, 2014, 2013 and 2012, respectively, as well as total assets and capital expenditures at December 31, 2014 and 2013, respectively (amounts in thousands): | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||
Rental Income | Operating Expenses | NOI | Rental Income | Operating Expenses | NOI | Rental Income | Operating Expenses | NOI | |||||||||||||||||||||||||||||
Same store (1) | |||||||||||||||||||||||||||||||||||||
Boston | $ | 253,032 | $ | 80,680 | $ | 172,352 | $ | 244,370 | $ | 78,249 | $ | 166,121 | $ | 168,063 | $ | 54,888 | $ | 113,175 | |||||||||||||||||||
Denver | 111,190 | 30,812 | 80,378 | 103,124 | 30,567 | 72,557 | 93,571 | 28,204 | 65,367 | ||||||||||||||||||||||||||||
New York | 455,598 | 171,336 | 284,262 | 438,366 | 165,329 | 273,037 | 274,683 | 109,667 | 165,016 | ||||||||||||||||||||||||||||
San Francisco | 340,251 | 106,424 | 233,827 | 312,345 | 108,218 | 204,127 | 159,535 | 57,373 | 102,162 | ||||||||||||||||||||||||||||
Seattle | 156,714 | 51,293 | 105,421 | 146,109 | 49,169 | 96,940 | 122,267 | 41,041 | 81,226 | ||||||||||||||||||||||||||||
South Florida | 191,729 | 70,296 | 121,433 | 182,620 | 69,475 | 113,145 | 177,675 | 67,811 | 109,864 | ||||||||||||||||||||||||||||
Southern California | 420,565 | 138,605 | 281,960 | 401,516 | 137,667 | 263,849 | 320,749 | 103,925 | 216,824 | ||||||||||||||||||||||||||||
Washington DC | 446,122 | 143,800 | 302,322 | 448,520 | 140,708 | 307,812 | 247,880 | 75,580 | 172,300 | ||||||||||||||||||||||||||||
Non-core | 100,732 | 37,451 | 63,281 | 97,380 | 36,483 | 60,897 | 128,816 | 48,548 | 80,268 | ||||||||||||||||||||||||||||
Total same store | 2,475,933 | 830,697 | 1,645,236 | 2,374,350 | 815,865 | 1,558,485 | 1,693,239 | 587,037 | 1,106,202 | ||||||||||||||||||||||||||||
Non-same store/other (2) (3) | |||||||||||||||||||||||||||||||||||||
Boston | 3,635 | 848 | 2,787 | 2,728 | 651 | 2,077 | — | — | — | ||||||||||||||||||||||||||||
Denver | — | — | — | — | — | — | 1,325 | 429 | 896 | ||||||||||||||||||||||||||||
New York | — | — | — | — | — | — | 14,611 | 5,988 | 8,623 | ||||||||||||||||||||||||||||
San Francisco | — | — | — | — | — | — | 7,268 | 3,022 | 4,246 | ||||||||||||||||||||||||||||
Seattle | 13,507 | 4,421 | 9,086 | 4,387 | 1,336 | 3,051 | 4,747 | 1,510 | 3,237 | ||||||||||||||||||||||||||||
South Florida | 5,475 | 2,743 | 2,732 | 390 | 810 | (420 | ) | — | — | — | |||||||||||||||||||||||||||
Southern California | 43,118 | 17,755 | 25,363 | 15,016 | 6,846 | 8,170 | 3,040 | 1,179 | 1,861 | ||||||||||||||||||||||||||||
Washington DC | 24,193 | 7,936 | 16,257 | 13,562 | 4,086 | 9,476 | 13,124 | 3,984 | 9,140 | ||||||||||||||||||||||||||||
Other (3) | 39,450 | 13,735 | 25,715 | 59,994 | 34,903 | 25,091 | 575 | 17,695 | (17,120 | ) | |||||||||||||||||||||||||||
Total non-same store/ | 129,378 | 47,438 | 81,940 | 96,077 | 48,632 | 47,445 | 44,690 | 33,807 | 10,883 | ||||||||||||||||||||||||||||
other | |||||||||||||||||||||||||||||||||||||
Archstone pre- | — | — | — | (92,423 | ) | (36,729 | ) | (55,694 | ) | — | — | — | |||||||||||||||||||||||||
ownership (4) | |||||||||||||||||||||||||||||||||||||
Total | $ | 2,605,311 | $ | 878,135 | $ | 1,727,176 | $ | 2,378,004 | $ | 827,768 | $ | 1,550,236 | $ | 1,737,929 | $ | 620,844 | $ | 1,117,085 | |||||||||||||||||||
-1 | For the years ended December 31, 2014 and 2013, same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2013, less properties subsequently sold, which represented 97,911 apartment units. Also includes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. For the year ended December 31, 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. | ||||||||||||||||||||||||||||||||||||
-2 | For the years ended December 31, 2014 and 2013, non-same store primarily includes properties acquired after January 1, 2013, plus any properties in lease-up and not stabilized as of January 1, 2013, but excludes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. For the year December 31, 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. | ||||||||||||||||||||||||||||||||||||
-3 | Other includes development, other corporate operations and operations prior to sale for properties sold in 2014 that do not meet the new discontinued operations criteria. | ||||||||||||||||||||||||||||||||||||
-4 | Represents pro forma Archstone pre-ownership results for the period January 1, 2013 to February 27, 2013 that is included in 2013 same store results. | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Total Assets | Capital Expenditures | Total Assets | Capital Expenditures | ||||||||||||||||||||||||||||||||||
Same store (1) | |||||||||||||||||||||||||||||||||||||
Boston | $ | 1,923,540 | $ | 19,575 | $ | 1,984,745 | $ | 17,625 | |||||||||||||||||||||||||||||
Denver | 520,537 | 5,863 | 541,480 | 5,384 | |||||||||||||||||||||||||||||||||
New York | 4,647,269 | 22,118 | 4,771,001 | 12,006 | |||||||||||||||||||||||||||||||||
San Francisco | 2,718,174 | 26,995 | 2,793,390 | 21,756 | |||||||||||||||||||||||||||||||||
Seattle | 1,032,140 | 14,570 | 1,061,118 | 7,940 | |||||||||||||||||||||||||||||||||
South Florida | 1,135,552 | 14,335 | 1,170,931 | 14,351 | |||||||||||||||||||||||||||||||||
Southern California | 2,910,934 | 26,975 | 3,010,786 | 19,852 | |||||||||||||||||||||||||||||||||
Washington DC | 4,223,590 | 42,927 | 4,339,246 | 24,506 | |||||||||||||||||||||||||||||||||
Non-core | 408,486 | 5,675 | 427,108 | 3,528 | |||||||||||||||||||||||||||||||||
Total same store | 19,520,222 | 179,033 | 20,099,805 | 126,948 | |||||||||||||||||||||||||||||||||
Non-same store/other (2) (3) | |||||||||||||||||||||||||||||||||||||
Boston | 48,323 | 699 | 49,372 | 102 | |||||||||||||||||||||||||||||||||
Seattle | 318,488 | 1,115 | 182,745 | 55 | |||||||||||||||||||||||||||||||||
South Florida | 67,833 | 8 | 68,987 | 1 | |||||||||||||||||||||||||||||||||
Southern California | 747,438 | 1,780 | 411,302 | 648 | |||||||||||||||||||||||||||||||||
Washington DC | 301,902 | 2,147 | 301,623 | 439 | |||||||||||||||||||||||||||||||||
Other (3) | 1,946,408 | 1,175 | 1,720,711 | 7,623 | |||||||||||||||||||||||||||||||||
Total non-same store/other | 3,430,392 | 6,924 | 2,734,740 | 8,868 | |||||||||||||||||||||||||||||||||
Total | $ | 22,950,614 | $ | 185,957 | $ | 22,834,545 | $ | 135,816 | |||||||||||||||||||||||||||||
-1 | Same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2013, less properties subsequently sold, which represented 97,911 apartment units. Also includes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. | ||||||||||||||||||||||||||||||||||||
-2 | Non-same store primarily includes properties acquired after January 1, 2013, plus any properties in lease-up and not stabilized as of January 1, 2013, but excludes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. | ||||||||||||||||||||||||||||||||||||
-3 | Other includes development, other corporate operations and capital expenditures for properties sold. | ||||||||||||||||||||||||||||||||||||
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, 2014, 2013 and 2012, respectively (amounts in thousands): | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Rental income | $ | 2,605,311 | $ | 2,378,004 | $ | 1,737,929 | |||||||||||||||||||||||||||||||
Property and maintenance expense | (473,098 | ) | (449,427 | ) | (332,219 | ) | |||||||||||||||||||||||||||||||
Real estate taxes and insurance expense | (325,401 | ) | (293,999 | ) | (206,723 | ) | |||||||||||||||||||||||||||||||
Property management expense | (79,636 | ) | (84,342 | ) | (81,902 | ) | |||||||||||||||||||||||||||||||
Total operating expenses | (878,135 | ) | (827,768 | ) | (620,844 | ) | |||||||||||||||||||||||||||||||
Net operating income | $ | 1,727,176 | $ | 1,550,236 | $ | 1,117,085 | |||||||||||||||||||||||||||||||
Subsequent_EventsOther
Subsequent Events/Other | 12 Months Ended | |
Dec. 31, 2014 | ||
Subsequent Events Other [Abstract] | ||
Subsequent Events/Other | ||
18 | Subsequent Events/Other | |
Subsequent Events | ||
Subsequent to December 31, 2014, the Company: | ||
• | Sold three properties consisting of 550 apartment units for $145.4 million; | |
• | Repaid $61.5 million in mortgage loans; | |
• | Entered into $50.0 million of forward starting swaps to hedge changes in interest rates related to future secured or unsecured debt issuances; and | |
• | Repurchased and retired 196,400 Series K Preferred Shares with a par value of $9.82 million for total cash consideration of approximately $12.7 million, incurring a cash charge of approximately $2.8 million which will be recorded as a premium on the redemption of preferred shares. | |
On February 2, 2015, the Operating Partnership entered into an unsecured commercial paper note program in the United States. Under the terms of this program, the Operating Partnership may issue, from time to time, unsecured commercial paper notes up to a maximum aggregate outstanding of $500.0 million. The notes will be sold under customary terms in the United States commercial paper note market and will rank pari passu with all of the Operating Partnership's other unsecured senior indebtedness. | ||
Other | ||
During the years ended December 31, 2014, 2013 and 2012, the Company incurred charges of $0.4 million, $0.3 million and $7.0 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 $3.6 million, $5.2 million and $9.0 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 $4.0 million, $5.5 million and $16.0 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, 2014, the Company received $2.8 million for the settlement of various litigation/insurance claims, which are included in interest and other income in the accompanying consolidated statements of operations and comprehensive income. | ||
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 and are included in interest and other income in the accompanying consolidated statements of operations and comprehensive income. | ||
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, 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 year ended December 31, 2012, the Company collected $0.3 million 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, 2014 | |||||||||||||||||
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. Amounts are in thousands, except for per share amounts. | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2014 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues | $ | 633,442 | $ | 652,568 | $ | 664,078 | $ | 664,660 | |||||||||
Operating income | 199,259 | 228,310 | 243,274 | 250,532 | |||||||||||||
Income from continuing operations | 81,680 | 117,210 | 231,252 | 226,959 | |||||||||||||
Discontinued operations, net | 1,052 | 510 | (62 | ) | 82 | ||||||||||||
Net income * | 82,732 | 117,720 | 231,190 | 227,041 | |||||||||||||
Net income available to Common Shares | 78,099 | 111,654 | 220,707 | 216,703 | |||||||||||||
Earnings per share – basic: | |||||||||||||||||
Net income available to Common Shares | $ | 0.22 | $ | 0.31 | $ | 0.61 | $ | 0.6 | |||||||||
Weighted average Common Shares outstanding | 360,470 | 360,809 | 361,409 | 362,018 | |||||||||||||
Earnings per share – diluted: | |||||||||||||||||
Net income available to Common Shares | $ | 0.22 | $ | 0.31 | $ | 0.61 | $ | 0.59 | |||||||||
Weighted average Common Shares outstanding | 376,384 | 377,118 | 377,954 | 378,886 | |||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues | $ | 504,722 | $ | 617,217 | $ | 626,629 | $ | 639,134 | |||||||||
Operating income | 104,254 | 63,986 | 120,405 | 223,677 | |||||||||||||
(Loss) income from continuing operations | (165,339 | ) | (58,511 | ) | (13,465 | ) | 69,141 | ||||||||||
Discontinued operations, net | 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 | |||||||||||||
* The Company did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2014 and 2013. 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. Amounts are in thousands, except for per Unit amounts. | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2014 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues | $ | 633,442 | $ | 652,568 | $ | 664,078 | $ | 664,660 | |||||||||
Operating income | 199,259 | 228,310 | 243,274 | 250,532 | |||||||||||||
Income from continuing operations | 81,680 | 117,210 | 231,252 | 226,959 | |||||||||||||
Discontinued operations, net | 1,052 | 510 | (62 | ) | 82 | ||||||||||||
Net income * | 82,732 | 117,720 | 231,190 | 227,041 | |||||||||||||
Net income available to Units | 81,192 | 116,096 | 229,445 | 225,261 | |||||||||||||
Earnings per Unit – basic: | |||||||||||||||||
Net income available to Units | $ | 0.22 | $ | 0.31 | $ | 0.61 | $ | 0.6 | |||||||||
Weighted average Units outstanding | 374,201 | 374,551 | 375,116 | 375,711 | |||||||||||||
Earnings per Unit – diluted: | |||||||||||||||||
Net income available to Units | $ | 0.22 | $ | 0.31 | $ | 0.61 | $ | 0.59 | |||||||||
Weighted average Units outstanding | 376,384 | 377,118 | 377,954 | 378,886 | |||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues | $ | 504,722 | $ | 617,217 | $ | 626,629 | $ | 639,134 | |||||||||
Operating income | 104,254 | 63,986 | 120,405 | 223,677 | |||||||||||||
(Loss) income from continuing operations | (165,339 | ) | (58,511 | ) | (13,465 | ) | 69,141 | ||||||||||
Discontinued operations, net | 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 | |||||||||||||
* The Operating Partnership did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2014 and 2013. 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, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
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, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Properties (H) | Units (H) | Investment in Real Estate, Gross | Accumulated | Investment in Real Estate, Net | Encumbrances (1) | ||||||||||||||||||||||||||||||||||||||||
Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
Wholly Owned Unencumbered | 263 | 69,217 | $ | 18,538,492,146 | $ | (3,650,524,741 | ) | $ | 14,887,967,405 | $ | — | ||||||||||||||||||||||||||||||||||
Wholly Owned Encumbered | 104 | 29,923 | 8,113,776,123 | (1,587,799,207 | ) | 6,525,976,916 | 4,726,035,749 | ||||||||||||||||||||||||||||||||||||||
Wholly Owned Properties | 367 | 99,140 | 26,652,268,269 | (5,238,323,948 | ) | 21,413,944,321 | 4,726,035,749 | ||||||||||||||||||||||||||||||||||||||
Partially Owned Unencumbered | 8 | 1,505 | 575,092,221 | (77,534,358 | ) | 497,557,863 | — | ||||||||||||||||||||||||||||||||||||||
Partially Owned Encumbered | 11 | 2,266 | 448,022,434 | (116,947,029 | ) | 331,075,405 | 360,479,262 | ||||||||||||||||||||||||||||||||||||||
Partially Owned Properties | 19 | 3,771 | 1,023,114,655 | (194,481,387 | ) | 828,633,268 | 360,479,262 | ||||||||||||||||||||||||||||||||||||||
Total Unencumbered Properties | 271 | 70,722 | 19,113,584,367 | (3,728,059,099 | ) | 15,385,525,268 | — | ||||||||||||||||||||||||||||||||||||||
Total Encumbered Properties | 115 | 32,189 | 8,561,798,557 | (1,704,746,236 | ) | 6,857,052,321 | 5,086,515,011 | ||||||||||||||||||||||||||||||||||||||
Total Consolidated Investment in Real Estate | 386 | 102,911 | $ | 27,675,382,924 | $ | (5,432,805,335 | ) | $ | 22,242,577,589 | $ | 5,086,515,011 | ||||||||||||||||||||||||||||||||||
-1 | See attached Encumbrances Reconciliation. | ||||||||||||||||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
Encumbrances Reconciliation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Portfolio/Entity Encumbrances | Number of | See Properties With Note: | Partially Owned Encumbrances | Wholly Owned Encumbrances | Total Amount | ||||||||||||||||||||||||||||||||||||||||
Properties Encumbered by | |||||||||||||||||||||||||||||||||||||||||||||
EQR-Fanwell 2007 LP | 5 | I | $ | — | $ | 300,000,000 | $ | 300,000,000 | |||||||||||||||||||||||||||||||||||||
EQR-Wellfan 2008 LP (R) | 12 | J | — | 550,000,000 | 550,000,000 | ||||||||||||||||||||||||||||||||||||||||
ASN-Fannie Mae 3 | 5 | K | 24,840,581 | 449,338,962 | 474,179,543 | ||||||||||||||||||||||||||||||||||||||||
Archstone Master Property Holdings LLC | 13 | L | — | 800,000,000 | 800,000,000 | ||||||||||||||||||||||||||||||||||||||||
Portfolio/Entity Encumbrances | 35 | 24,840,581 | 2,099,338,962 | 2,124,179,543 | |||||||||||||||||||||||||||||||||||||||||
Individual Property Encumbrances | 335,638,681 | 2,626,696,787 | 2,962,335,468 | ||||||||||||||||||||||||||||||||||||||||||
Total Encumbrances per Financial Statements | $ | 360,479,262 | $ | 4,726,035,749 | $ | 5,086,515,011 | |||||||||||||||||||||||||||||||||||||||
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, 2014, 2013 and 2012 are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 26,800,948 | $ | 21,008,429 | $ | 20,407,946 | |||||||||||||||||||||||||||||||||||||||
Acquisitions and development | 1,121,423 | 9,273,492 | 1,250,633 | ||||||||||||||||||||||||||||||||||||||||||
Improvements | 191,243 | 139,950 | 161,460 | ||||||||||||||||||||||||||||||||||||||||||
Dispositions and other | (438,231 | ) | (3,620,923 | ) | (811,610 | ) | |||||||||||||||||||||||||||||||||||||||
Balance, end of year | $ | 27,675,383 | $ | 26,800,948 | $ | 21,008,429 | |||||||||||||||||||||||||||||||||||||||
The changes in accumulated depreciation for the years ended December 31, 2014, 2013 and 2012 are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 4,807,709 | $ | 4,912,221 | $ | 4,539,583 | |||||||||||||||||||||||||||||||||||||||
Depreciation | 758,861 | 1,013,353 | 684,992 | ||||||||||||||||||||||||||||||||||||||||||
Dispositions and other | (133,765 | ) | (1,117,865 | ) | (312,354 | ) | |||||||||||||||||||||||||||||||||||||||
Balance, end of year | $ | 5,432,805 | $ | 4,807,709 | $ | 4,912,221 | |||||||||||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/14 | ||||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Retail/Commercial Space (G) | 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 12/31/14 (B) | Encumbrances | ||||||||||||||||||||||||||||||||
Wholly Owned Unencumbered: | |||||||||||||||||||||||||||||||||||||||||||||
100 K Street | Washington, D.C. | — | (F) | — | $ | 15,600,000 | $ | 1,949,701 | $ | — | $ | 15,600,000 | $ | 1,949,701 | $ | 17,549,701 | $ | — | $ | 17,549,701 | $ | — | |||||||||||||||||||||||
1111 Belle Pre (fka The Madison) | Alexandria, VA | Y | 2014 | 360 | 18,937,702 | 92,495,595 | 17,838 | 18,937,702 | 92,513,433 | 111,451,135 | (3,422,538 | ) | 108,028,597 | — | |||||||||||||||||||||||||||||||
1210 Mass | Washington, D.C. | Y | 2004 | 144 | 9,213,512 | 36,559,189 | 610,534 | 9,213,512 | 37,169,723 | 46,383,235 | (12,689,430 | ) | 33,693,805 | — | |||||||||||||||||||||||||||||||
1401 E. Madison | Seattle, WA | — | (F) | — | 10,322,187 | 1,019,404 | — | 10,322,187 | 1,019,404 | 11,341,591 | — | 11,341,591 | — | ||||||||||||||||||||||||||||||||
1500 Mass Ave | Washington, D.C. | Y | 1951 | 556 | 54,638,298 | 40,361,702 | 13,296,439 | 54,638,298 | 53,658,141 | 108,296,439 | (14,670,887 | ) | 93,625,552 | — | |||||||||||||||||||||||||||||||
170 Amsterdam | New York, NY | Y | (F) | — | — | 97,371,663 | — | — | 97,371,663 | 97,371,663 | — | 97,371,663 | — | ||||||||||||||||||||||||||||||||
175 Kent | Brooklyn, NY | Y | 2011 | 113 | 22,037,831 | 53,962,169 | 1,072,648 | 22,037,831 | 55,034,817 | 77,072,648 | (8,337,345 | ) | 68,735,303 | — | |||||||||||||||||||||||||||||||
180 Montague (fka Brooklyn Heights) | Brooklyn, NY | Y | 2000 | 193 | 32,400,000 | 92,675,228 | 946,790 | 32,400,000 | 93,622,018 | 126,022,018 | (10,067,159 | ) | 115,954,859 | — | |||||||||||||||||||||||||||||||
1800 Oak (fka Rosslyn) | Arlington, VA | Y | 2003 | 314 | 31,400,000 | 109,005,734 | 1,424,829 | 31,400,000 | 110,430,563 | 141,830,563 | (11,550,245 | ) | 130,280,318 | — | |||||||||||||||||||||||||||||||
200 N Lemon Street | Anaheim, CA | — | (F) | — | 5,865,235 | 2,802,003 | — | 5,865,235 | 2,802,003 | 8,667,238 | — | 8,667,238 | — | ||||||||||||||||||||||||||||||||
204-206 Pine Street/1610 2nd Avenue | Seattle, WA | — | (F) | — | 22,106,465 | 18,015,203 | — | 22,106,465 | 18,015,203 | 40,121,668 | — | 40,121,668 | — | ||||||||||||||||||||||||||||||||
2201 Pershing Drive | Arlington, VA | Y | 2012 | 188 | 11,321,198 | 49,316,482 | 2,018,023 | 11,321,198 | 51,334,505 | 62,655,703 | (4,704,104 | ) | 57,951,599 | — | |||||||||||||||||||||||||||||||
2201 Wilson | Arlington, VA | Y | 2000 | 219 | 21,900,000 | 78,724,663 | 1,155,814 | 21,900,000 | 79,880,477 | 101,780,477 | (8,243,035 | ) | 93,537,442 | — | |||||||||||||||||||||||||||||||
2400 M St | Washington, D.C. | Y | 2006 | 359 | 30,006,593 | 114,013,785 | 3,170,237 | 30,006,593 | 117,184,022 | 147,190,615 | (37,361,925 | ) | 109,828,690 | — | |||||||||||||||||||||||||||||||
340 Fremont (fka Rincon Hill) | San Francisco, CA | — | (F) | — | 42,000,000 | 64,972,143 | — | 42,000,000 | 64,972,143 | 106,972,143 | — | 106,972,143 | — | ||||||||||||||||||||||||||||||||
420 East 80th Street | New York, NY | — | 1961 | 155 | 39,277,000 | 23,026,984 | 3,746,938 | 39,277,000 | 26,773,922 | 66,050,922 | (10,547,486 | ) | 55,503,436 | — | |||||||||||||||||||||||||||||||
425 Mass | Washington, D.C. | Y | 2009 | 559 | 28,150,000 | 138,600,000 | 3,341,423 | 28,150,000 | 141,941,423 | 170,091,423 | (29,744,846 | ) | 140,346,577 | — | |||||||||||||||||||||||||||||||
443 - 459 Eye Street | Washington, D.C. | — | (F) | — | 12,671,446 | 7,660,628 | — | 12,671,446 | 7,660,628 | 20,332,074 | — | 20,332,074 | — | ||||||||||||||||||||||||||||||||
4885 Edgemoor Lane | Bethesda, MD | — | (F) | — | — | 520,879 | — | — | 520,879 | 520,879 | — | 520,879 | — | ||||||||||||||||||||||||||||||||
4th and Hill | Los Angeles, CA | — | (F) | — | 13,131,456 | 1,242,358 | — | 13,131,456 | 1,242,358 | 14,373,814 | — | 14,373,814 | — | ||||||||||||||||||||||||||||||||
600 Washington | New York, NY | Y | 2004 | 135 | 32,852,000 | 43,140,551 | 394,984 | 32,852,000 | 43,535,535 | 76,387,535 | (15,049,427 | ) | 61,338,108 | — | |||||||||||||||||||||||||||||||
660 Washington (fka Boston Common) | Boston, MA | Y | 2006 | 420 | 106,100,000 | 166,311,679 | 785,303 | 106,100,000 | 167,096,982 | 273,196,982 | (18,440,877 | ) | 254,756,105 | — | |||||||||||||||||||||||||||||||
70 Greene | Jersey City, NJ | Y | 2010 | 480 | 28,108,899 | 236,941,402 | 648,362 | 28,108,899 | 237,589,764 | 265,698,663 | (41,945,093 | ) | 223,753,570 | — | |||||||||||||||||||||||||||||||
71 Broadway | New York, NY | Y | 1997 | 238 | 22,611,600 | 77,492,171 | 11,705,700 | 22,611,600 | 89,197,871 | 111,809,471 | (32,081,951 | ) | 79,727,520 | — | |||||||||||||||||||||||||||||||
77 Bluxome | San Francisco, CA | — | 2007 | 102 | 5,249,124 | 18,609,876 | 91,584 | 5,249,124 | 18,701,460 | 23,950,584 | (2,715,377 | ) | 21,235,207 | — | |||||||||||||||||||||||||||||||
777 Sixth | New York, NY | Y | 2002 | 294 | 65,352,706 | 65,747,294 | 1,569,464 | 65,352,706 | 67,316,758 | 132,669,464 | (19,832,874 | ) | 112,836,590 | — | |||||||||||||||||||||||||||||||
801 Brannan | San Francisco, CA | — | (F) | — | 42,367,171 | 10,605,097 | — | 42,367,171 | 10,605,097 | 52,972,268 | — | 52,972,268 | — | ||||||||||||||||||||||||||||||||
88 Hillside | Daly City, CA | Y | 2011 | 95 | 7,786,800 | 31,587,325 | 1,440,789 | 7,786,800 | 33,028,114 | 40,814,914 | (4,524,720 | ) | 36,290,194 | — | |||||||||||||||||||||||||||||||
Abington Glen | Abington, MA | — | 1968 | 90 | 553,105 | 3,697,396 | 2,640,482 | 553,105 | 6,337,878 | 6,890,983 | (4,166,796 | ) | 2,724,187 | — | |||||||||||||||||||||||||||||||
Agoura Hills | Agoura Hills, CA | — | 1985 | 178 | 16,700,000 | 30,103,716 | 199,116 | 16,700,000 | 30,302,832 | 47,002,832 | (4,124,770 | ) | 42,878,062 | — | |||||||||||||||||||||||||||||||
Alban Towers | Washington, D.C. | — | 1934 | 229 | 18,900,000 | 89,794,201 | 209,270 | 18,900,000 | 90,003,471 | 108,903,471 | (9,591,406 | ) | 99,312,065 | — | |||||||||||||||||||||||||||||||
Arbor Terrace | Sunnyvale, CA | — | 1979 | 175 | 9,057,300 | 18,483,642 | 2,555,686 | 9,057,300 | 21,039,328 | 30,096,628 | (12,373,084 | ) | 17,723,544 | — | |||||||||||||||||||||||||||||||
Arboretum (MA) | Canton, MA | — | 1989 | 156 | 4,685,900 | 10,992,751 | 3,419,397 | 4,685,900 | 14,412,148 | 19,098,048 | (8,193,657 | ) | 10,904,391 | — | |||||||||||||||||||||||||||||||
Artisan on Second | Los Angeles, CA | — | 2008 | 118 | 8,000,400 | 36,074,600 | 389,768 | 8,000,400 | 36,464,368 | 44,464,768 | (6,430,450 | ) | 38,034,318 | — | |||||||||||||||||||||||||||||||
Artistry Emeryville (fka Emeryville) | Emeryville, CA | — | 1994 | 261 | 12,300,000 | 61,466,267 | 1,320,923 | 12,300,000 | 62,787,190 | 75,087,190 | (7,113,391 | ) | 67,973,799 | — | |||||||||||||||||||||||||||||||
Ashton, The | Corona Hills, CA | — | 1986 | 492 | 2,594,264 | 33,042,397 | 6,987,399 | 2,594,264 | 40,029,796 | 42,624,060 | (24,912,155 | ) | 17,711,905 | — | |||||||||||||||||||||||||||||||
Avenue Two | Redwood City, CA | — | 1972 | 123 | 7,995,000 | 18,005,000 | 1,462,589 | 7,995,000 | 19,467,589 | 27,462,589 | (3,258,935 | ) | 24,203,654 | — | |||||||||||||||||||||||||||||||
Azure (fka Mission Bay-Block 13) | San Francisco, CA | — | (F) | — | 32,855,115 | 113,753,727 | — | 32,855,115 | 113,753,727 | 146,608,842 | — | 146,608,842 | — | ||||||||||||||||||||||||||||||||
Ball Park Lofts | Denver, CO | Y | 2003 | 354 | 5,481,556 | 51,658,741 | 4,682,528 | 5,481,556 | 56,341,269 | 61,822,825 | (21,540,968 | ) | 40,281,857 | — | |||||||||||||||||||||||||||||||
Barrington Place | Oviedo, FL | — | 1998 | 233 | 6,990,000 | 15,740,825 | 3,018,496 | 6,990,000 | 18,759,321 | 25,749,321 | (9,212,819 | ) | 16,536,502 | — | |||||||||||||||||||||||||||||||
Bay Hill | Long Beach, CA | — | 2002 | 160 | 7,600,000 | 27,437,239 | 963,706 | 7,600,000 | 28,400,945 | 36,000,945 | (10,977,611 | ) | 25,023,334 | — | |||||||||||||||||||||||||||||||
Beatrice, The | New York, NY | — | 2010 | 302 | 114,351,405 | 165,648,595 | 593,292 | 114,351,405 | 166,241,887 | 280,593,292 | (23,101,995 | ) | 257,491,297 | — | |||||||||||||||||||||||||||||||
Bella Terra | Mukilteo, WA | Y | 2002 | 235 | 5,686,861 | 26,070,540 | 1,142,423 | 5,686,861 | 27,212,963 | 32,899,824 | (10,954,172 | ) | 21,945,652 | — | |||||||||||||||||||||||||||||||
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 Rey, CA | — | 2003 | 102 | 9,098,808 | 28,701,192 | 236,115 | 9,098,808 | 28,937,307 | 38,036,115 | (4,398,214 | ) | 33,637,901 | — | |||||||||||||||||||||||||||||||
Berkeley Land | Berkeley, CA | — | (F) | — | 13,908,910 | 8,409,958 | — | 13,908,910 | 8,409,958 | 22,318,868 | — | 22,318,868 | — | ||||||||||||||||||||||||||||||||
Bradford Apartments | Newington, CT | — | 1964 | 64 | 401,091 | 2,681,210 | 904,877 | 401,091 | 3,586,087 | 3,987,178 | (1,902,145 | ) | 2,085,033 | — | |||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/14 | ||||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Retail/Commercial Space (G) | 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 12/31/14 (B) | Encumbrances | ||||||||||||||||||||||||||||||||
Breakwater at Marina Del Rey | Marina Del Rey, CA | — | 1964/2013 | 224 | — | 73,040,897 | 390,829 | — | 73,431,726 | 73,431,726 | (8,397,690 | ) | 65,034,036 | — | |||||||||||||||||||||||||||||||
Briar Knoll Apts | Vernon, CT | — | 1986 | 150 | 928,972 | 6,209,988 | 2,440,679 | 928,972 | 8,650,667 | 9,579,639 | (4,376,105 | ) | 5,203,534 | — | |||||||||||||||||||||||||||||||
Briarwood (CA) | Sunnyvale, CA | — | 1985 | 192 | 9,991,500 | 22,247,278 | 3,407,674 | 9,991,500 | 25,654,952 | 35,646,452 | (13,931,009 | ) | 21,715,443 | — | |||||||||||||||||||||||||||||||
Bridford Lakes II | Greensboro, NC | — | (F) | — | 1,100,564 | 792,508 | — | 1,100,564 | 792,508 | 1,893,072 | — | 1,893,072 | — | ||||||||||||||||||||||||||||||||
Brooklyner (fka 111 Lawrence) | Brooklyn, NY | Y | 2010 | 490 | 40,099,922 | 221,438,631 | 785,785 | 40,099,922 | 222,224,416 | 262,324,338 | (30,934,466 | ) | 231,389,872 | — | |||||||||||||||||||||||||||||||
Brookside (CO) | Boulder, CO | — | 1993 | 144 | 3,600,400 | 10,211,159 | 2,708,411 | 3,600,400 | 12,919,570 | 16,519,970 | (7,278,630 | ) | 9,241,340 | — | |||||||||||||||||||||||||||||||
Cambridge Park | Cambridge, MA | Y | 2002 | 312 | 31,200,000 | 106,048,587 | 1,280,508 | 31,200,000 | 107,329,095 | 138,529,095 | (11,557,359 | ) | 126,971,736 | — | |||||||||||||||||||||||||||||||
Carlyle Mill | Alexandria, VA | — | 2002 | 317 | 10,000,000 | 51,367,913 | 5,851,009 | 10,000,000 | 57,218,922 | 67,218,922 | (23,791,982 | ) | 43,426,940 | — | |||||||||||||||||||||||||||||||
Cascade | Seattle, WA | — | (F) | — | 23,751,564 | 10,791,356 | — | 23,751,564 | 10,791,356 | 34,542,920 | — | 34,542,920 | — | ||||||||||||||||||||||||||||||||
Centennial (fka Centennial Court & Centennial Tower) | Seattle, WA | Y | 1991/2001 | 408 | 9,700,000 | 70,080,378 | 6,937,805 | 9,700,000 | 77,018,183 | 86,718,183 | (27,564,879 | ) | 59,153,304 | — | |||||||||||||||||||||||||||||||
Centre Club | Ontario, CA | — | 1994 | 312 | 5,616,000 | 23,485,891 | 3,450,905 | 5,616,000 | 26,936,796 | 32,552,796 | (13,897,951 | ) | 18,654,845 | — | |||||||||||||||||||||||||||||||
Centre Club II | Ontario, CA | — | 2002 | 100 | 1,820,000 | 9,528,898 | 819,747 | 1,820,000 | 10,348,645 | 12,168,645 | (4,700,524 | ) | 7,468,121 | — | |||||||||||||||||||||||||||||||
Church Corner | Cambridge, MA | Y | 1987 | 85 | 5,220,000 | 16,744,643 | 1,800,805 | 5,220,000 | 18,545,448 | 23,765,448 | (7,065,181 | ) | 16,700,267 | — | |||||||||||||||||||||||||||||||
Cierra Crest | Denver, CO | — | 1996 | 480 | 4,803,100 | 34,894,898 | 5,414,548 | 4,803,100 | 40,309,446 | 45,112,546 | (24,419,410 | ) | 20,693,136 | — | |||||||||||||||||||||||||||||||
City Gate at Cupertino (fka Cupertino) | Cupertino, CA | — | 1998 | 311 | 40,400,000 | 95,937,046 | 1,779,973 | 40,400,000 | 97,717,019 | 138,117,019 | (10,309,105 | ) | 127,807,914 | — | |||||||||||||||||||||||||||||||
City Pointe | Fullerton, CA | Y | 2004 | 183 | 6,863,792 | 36,476,208 | 721,681 | 6,863,792 | 37,197,889 | 44,061,681 | (9,178,639 | ) | 34,883,042 | — | |||||||||||||||||||||||||||||||
City Square Bellevue (fka Bellevue) | Bellevue, WA | Y | 1998 | 191 | 15,100,000 | 41,876,257 | 2,050,569 | 15,100,000 | 43,926,826 | 59,026,826 | (4,422,723 | ) | 54,604,103 | — | |||||||||||||||||||||||||||||||
Cleo, The | Los Angeles, CA | — | 1989 | 92 | 6,615,467 | 14,829,335 | 3,773,750 | 6,615,467 | 18,603,085 | 25,218,552 | (7,103,987 | ) | 18,114,565 | — | |||||||||||||||||||||||||||||||
Coconut Palm Club | Coconut Creek, FL | — | 1992 | 301 | 3,001,700 | 17,678,928 | 4,041,006 | 3,001,700 | 21,719,934 | 24,721,634 | (12,873,552 | ) | 11,848,082 | — | |||||||||||||||||||||||||||||||
Colorado Pointe | Denver, CO | — | 2006 | 193 | 5,790,000 | 28,815,607 | 752,433 | 5,790,000 | 29,568,040 | 35,358,040 | (10,517,365 | ) | 24,840,675 | — | |||||||||||||||||||||||||||||||
Copper Canyon | Highlands Ranch, CO | — | 1999 | 222 | 1,442,212 | 16,251,114 | 1,772,671 | 1,442,212 | 18,023,785 | 19,465,997 | (9,990,871 | ) | 9,475,126 | — | |||||||||||||||||||||||||||||||
Corcoran House at DuPont Circle (fka DuPont Circle) | Washington, D.C. | Y | 1961 | 137 | 13,500,000 | 26,913,113 | 791,502 | 13,500,000 | 27,704,615 | 41,204,615 | (3,669,329 | ) | 37,535,286 | — | |||||||||||||||||||||||||||||||
Courthouse Plaza | Arlington, VA | Y | 1990 | 396 | — | 87,386,024 | 3,025,937 | — | 90,411,961 | 90,411,961 | (11,097,765 | ) | 79,314,196 | — | |||||||||||||||||||||||||||||||
Cove at Boynton Beach I | Boynton Beach, FL | — | 1996 | 252 | 12,600,000 | 31,469,651 | 4,584,960 | 12,600,000 | 36,054,611 | 48,654,611 | (15,408,055 | ) | 33,246,556 | — | |||||||||||||||||||||||||||||||
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 | (14,615,674 | ) | 38,059,045 | — | |||||||||||||||||||||||||||||||
Creekside (San Mateo) | San Mateo, CA | — | 1985 | 192 | 9,606,600 | 21,193,232 | 3,609,414 | 9,606,600 | 24,802,646 | 34,409,246 | (13,787,401 | ) | 20,621,845 | — | |||||||||||||||||||||||||||||||
Cronins Landing | Waltham, MA | Y | 1998 | 281 | 32,300,000 | 85,119,324 | 1,108,920 | 32,300,000 | 86,228,244 | 118,528,244 | (9,629,005 | ) | 108,899,239 | — | |||||||||||||||||||||||||||||||
Crystal Place | Arlington, VA | — | 1986 | 181 | 17,200,000 | 47,918,975 | 822,173 | 17,200,000 | 48,741,148 | 65,941,148 | (5,368,053 | ) | 60,573,095 | — | |||||||||||||||||||||||||||||||
Dartmouth Woods | Lakewood, CO | — | 1990 | 201 | 1,609,800 | 10,832,754 | 2,497,430 | 1,609,800 | 13,330,184 | 14,939,984 | (8,473,402 | ) | 6,466,582 | — | |||||||||||||||||||||||||||||||
Dean Estates | Taunton, MA | — | 1984 | 58 | 498,080 | 3,329,560 | 809,096 | 498,080 | 4,138,656 | 4,636,736 | (2,275,545 | ) | 2,361,191 | — | |||||||||||||||||||||||||||||||
Deerwood (Corona) | Corona, CA | — | 1992 | 316 | 4,742,200 | 20,272,892 | 4,430,978 | 4,742,200 | 24,703,870 | 29,446,070 | (15,468,543 | ) | 13,977,527 | — | |||||||||||||||||||||||||||||||
Eagle Canyon | Chino Hills, CA | — | 1985 | 252 | 1,808,900 | 16,274,361 | 7,553,015 | 1,808,900 | 23,827,376 | 25,636,276 | (15,121,257 | ) | 10,515,019 | — | |||||||||||||||||||||||||||||||
Edgemont at Bethesda Metro | Bethesda, MD | — | 1989 | 122 | 13,092,552 | 43,907,448 | 525,086 | 13,092,552 | 44,432,534 | 57,525,086 | (6,807,362 | ) | 50,717,724 | — | |||||||||||||||||||||||||||||||
Elevé | Glendale, CA | Y | 2013 | 208 | 14,080,560 | 56,419,440 | 79,091 | 14,080,560 | 56,498,531 | 70,579,091 | (2,964,122 | ) | 67,614,969 | — | |||||||||||||||||||||||||||||||
Emerson Place | Boston, MA | Y | 1962 | 444 | 14,855,000 | 57,566,636 | 16,797,224 | 14,855,000 | 74,363,860 | 89,218,860 | (47,115,657 | ) | 42,103,203 | — | |||||||||||||||||||||||||||||||
Encinitas Heights (fka Encinitas) | Encinitas, CA | Y | 2002 | 120 | 12,000,000 | 29,207,497 | 211,769 | 12,000,000 | 29,419,266 | 41,419,266 | (3,528,264 | ) | 37,891,002 | — | |||||||||||||||||||||||||||||||
Enclave at Waterways | Deerfield Beach, FL | — | 1998 | 300 | 15,000,000 | 33,194,576 | 2,023,348 | 15,000,000 | 35,217,924 | 50,217,924 | (13,576,836 | ) | 36,641,088 | — | |||||||||||||||||||||||||||||||
Enclave at Winston Park | Coconut Creek, FL | — | 1995 | 278 | 5,560,000 | 19,939,324 | 5,124,830 | 5,560,000 | 25,064,154 | 30,624,154 | (11,489,835 | ) | 19,134,319 | — | |||||||||||||||||||||||||||||||
Encore at Sherman Oaks, The | Sherman Oaks, CA | — | 1988 | 174 | 8,700,000 | 25,446,003 | 985,534 | 8,700,000 | 26,431,537 | 35,131,537 | (5,201,465 | ) | 29,930,072 | — | |||||||||||||||||||||||||||||||
Estates at Tanglewood | Westminster, CO | — | 2003 | 504 | 7,560,000 | 51,256,538 | 2,870,210 | 7,560,000 | 54,126,748 | 61,686,748 | (20,000,446 | ) | 41,686,302 | — | |||||||||||||||||||||||||||||||
Estates at Wellington Green | Wellington, FL | — | 2003 | 400 | 20,000,000 | 64,790,850 | 2,415,710 | 20,000,000 | 67,206,560 | 87,206,560 | (24,828,948 | ) | 62,377,612 | — | |||||||||||||||||||||||||||||||
Fountains at Emerald Park (fka Emerald Park) | Dublin, CA | — | 2000 | 324 | 25,900,000 | 83,986,217 | 329,083 | 25,900,000 | 84,315,300 | 110,215,300 | (9,418,800 | ) | 100,796,500 | — | |||||||||||||||||||||||||||||||
Fox Hill Apartments | Enfield, CT | — | 1974 | 168 | 1,129,018 | 7,547,256 | 2,038,591 | 1,129,018 | 9,585,847 | 10,714,865 | (5,061,024 | ) | 5,653,841 | — | |||||||||||||||||||||||||||||||
Fremont Center | Fremont, CA | Y | 2002 | 322 | 25,800,000 | 78,753,114 | 1,138,054 | 25,800,000 | 79,891,168 | 105,691,168 | (8,436,511 | ) | 97,254,657 | — | |||||||||||||||||||||||||||||||
Gables Grand Plaza | Coral Gables, FL | Y | 1998 | 195 | — | 44,601,000 | 7,243,495 | — | 51,844,495 | 51,844,495 | (20,895,735 | ) | 30,948,760 | — | |||||||||||||||||||||||||||||||
Gallery, The | Hermosa Beach, CA | — | 1971 | 169 | 18,144,000 | 46,567,941 | 2,170,023 | 18,144,000 | 48,737,964 | 66,881,964 | (16,524,852 | ) | 50,357,112 | — | |||||||||||||||||||||||||||||||
Gatehouse at Pine Lake | Pembroke Pines, FL | — | 1990 | 296 | 1,896,600 | 17,070,795 | 7,050,209 | 1,896,600 | 24,121,004 | 26,017,604 | (14,398,441 | ) | 11,619,163 | — | |||||||||||||||||||||||||||||||
Gatehouse on the Green | Plantation, FL | — | 1990 | 312 | 2,228,200 | 20,056,270 | 8,529,397 | 2,228,200 | 28,585,667 | 30,813,867 | (17,655,268 | ) | 13,158,599 | — | |||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/14 | ||||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Retail/Commercial Space (G) | 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 12/31/14 (B) | Encumbrances | ||||||||||||||||||||||||||||||||
Gates of Redmond | Redmond, WA | — | 1979 | 180 | 2,306,100 | 12,064,015 | 5,008,026 | 2,306,100 | 17,072,041 | 19,378,141 | (10,668,500 | ) | 8,709,641 | — | |||||||||||||||||||||||||||||||
Geary Court Yard | San Francisco, CA | — | 1990 | 164 | 1,722,400 | 15,471,429 | 3,464,405 | 1,722,400 | 18,935,834 | 20,658,234 | (11,005,136 | ) | 9,653,098 | — | |||||||||||||||||||||||||||||||
Glen Meadow | Franklin, MA | — | 1971 | 288 | 2,339,330 | 16,133,588 | 3,991,967 | 2,339,330 | 20,125,555 | 22,464,885 | (11,374,011 | ) | 11,090,874 | — | |||||||||||||||||||||||||||||||
Governors Green | Bowie, MD | — | 1999 | 478 | 19,845,000 | 73,335,916 | 1,412,260 | 19,845,000 | 74,748,176 | 94,593,176 | (23,032,994 | ) | 71,560,182 | — | |||||||||||||||||||||||||||||||
Greenfield Village | Rocky Hill , CT | — | 1965 | 151 | 911,534 | 6,093,418 | 773,225 | 911,534 | 6,866,643 | 7,778,177 | (3,622,365 | ) | 4,155,812 | — | |||||||||||||||||||||||||||||||
Greenwood Park | Centennial, CO | — | 1994 | 291 | 4,365,000 | 38,372,440 | 2,833,754 | 4,365,000 | 41,206,194 | 45,571,194 | (13,229,764 | ) | 32,341,430 | — | |||||||||||||||||||||||||||||||
Greenwood Plaza | Centennial, CO | — | 1996 | 266 | 3,990,000 | 35,846,708 | 2,744,839 | 3,990,000 | 38,591,547 | 42,581,547 | (12,762,175 | ) | 29,819,372 | — | |||||||||||||||||||||||||||||||
Hammocks Place | Miami, FL | — | 1986 | 296 | 319,180 | 12,513,467 | 5,338,503 | 319,180 | 17,851,970 | 18,171,150 | (12,636,539 | ) | 5,534,611 | — | |||||||||||||||||||||||||||||||
Hampshire Place | Los Angeles, CA | — | 1989 | 259 | 10,806,000 | 30,335,330 | 3,447,199 | 10,806,000 | 33,782,529 | 44,588,529 | (12,995,633 | ) | 31,592,896 | — | |||||||||||||||||||||||||||||||
Harbor Steps | Seattle, WA | Y | 2000 | 758 | 59,387,158 | 158,829,432 | 14,399,390 | 59,387,158 | 173,228,822 | 232,615,980 | (59,958,870 | ) | 172,657,110 | — | |||||||||||||||||||||||||||||||
Heritage at Stone Ridge | Burlington, MA | — | 2005 | 180 | 10,800,000 | 31,808,335 | 1,240,736 | 10,800,000 | 33,049,071 | 43,849,071 | (11,857,633 | ) | 31,991,438 | — | |||||||||||||||||||||||||||||||
Heritage Ridge | Lynwood, WA | — | 1999 | 197 | 6,895,000 | 18,983,597 | 885,040 | 6,895,000 | 19,868,637 | 26,763,637 | (8,025,318 | ) | 18,738,319 | — | |||||||||||||||||||||||||||||||
Heron Pointe | Boynton Beach, FL | — | 1989 | 192 | 1,546,700 | 7,774,676 | 2,523,556 | 1,546,700 | 10,298,232 | 11,844,932 | (6,663,332 | ) | 5,181,600 | — | |||||||||||||||||||||||||||||||
Hesby | North Hollywood, CA | — | 2013 | 308 | 23,299,892 | 102,700,108 | 53,278 | 23,299,892 | 102,753,386 | 126,053,278 | (3,116,198 | ) | 122,937,080 | — | |||||||||||||||||||||||||||||||
High Meadow | Ellington, CT | — | 1975 | 100 | 583,679 | 3,901,774 | 1,204,674 | 583,679 | 5,106,448 | 5,690,127 | (2,657,575 | ) | 3,032,552 | — | |||||||||||||||||||||||||||||||
Highland Glen | Westwood, MA | — | 1979 | 180 | 2,229,095 | 16,828,153 | 2,784,639 | 2,229,095 | 19,612,792 | 21,841,887 | (10,224,890 | ) | 11,616,997 | — | |||||||||||||||||||||||||||||||
Highland Glen II | Westwood, MA | — | 2007 | 102 | — | 19,875,857 | 168,257 | — | 20,044,114 | 20,044,114 | (5,731,936 | ) | 14,312,178 | — | |||||||||||||||||||||||||||||||
Highlands at Cherry Hill | Cherry Hills, NJ | — | 2002 | 170 | 6,800,000 | 21,459,108 | 908,619 | 6,800,000 | 22,367,727 | 29,167,727 | (8,000,482 | ) | 21,167,245 | — | |||||||||||||||||||||||||||||||
Highlands at South Plainfield | South Plainfield, NJ | — | 2000 | 252 | 10,080,000 | 37,526,912 | 1,066,617 | 10,080,000 | 38,593,529 | 48,673,529 | (13,169,823 | ) | 35,503,706 | — | |||||||||||||||||||||||||||||||
Hikari | Los Angeles, CA | Y | 2007 | 128 | 9,435,760 | 32,564,240 | 226,353 | 9,435,760 | 32,790,593 | 42,226,353 | (5,483,065 | ) | 36,743,288 | — | |||||||||||||||||||||||||||||||
Hudson Crossing | New York, NY | Y | 2003 | 259 | 23,420,000 | 69,977,699 | 1,911,448 | 23,420,000 | 71,889,147 | 95,309,147 | (25,933,022 | ) | 69,376,125 | — | |||||||||||||||||||||||||||||||
Hudson Crossing II | New York, NY | — | (F) | — | 10,599,286 | 361,404 | — | 10,599,286 | 361,404 | 10,960,690 | — | 10,960,690 | — | ||||||||||||||||||||||||||||||||
Hudson Pointe | Jersey City, NJ | — | 2003 | 182 | 5,350,000 | 41,114,074 | 2,675,247 | 5,350,000 | 43,789,321 | 49,139,321 | (16,766,304 | ) | 32,373,017 | — | |||||||||||||||||||||||||||||||
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 | 5,321,606 | 1,597,500 | 19,689,470 | 21,286,970 | (14,109,888 | ) | 7,177,082 | — | |||||||||||||||||||||||||||||||
Jia (fka Chinatown Gateway) | Los Angeles, CA | Y | 2014 | 280 | 14,791,831 | 74,818,783 | 92,185 | 14,791,831 | 74,910,968 | 89,702,799 | (3,493,876 | ) | 86,208,923 | — | |||||||||||||||||||||||||||||||
Junction 47 (fka West Seattle) | Seattle, WA | Y | (F) | — | 11,726,305 | 32,787,325 | — | 11,726,305 | 32,787,325 | 44,513,630 | — | 44,513,630 | — | ||||||||||||||||||||||||||||||||
Kenwood Mews | Burbank, CA | — | 1991 | 141 | 14,100,000 | 24,662,883 | 3,139,424 | 14,100,000 | 27,802,307 | 41,902,307 | (9,416,490 | ) | 32,485,817 | — | |||||||||||||||||||||||||||||||
Kings Colony (FL) | Miami, FL | — | 1986 | 480 | 19,200,000 | 48,379,586 | 5,959,307 | 19,200,000 | 54,338,893 | 73,538,893 | (20,308,990 | ) | 53,229,903 | — | |||||||||||||||||||||||||||||||
Landings at Pembroke Lakes | Pembroke Pines, FL | — | 1989 | 358 | 17,900,000 | 24,460,989 | 5,417,847 | 17,900,000 | 29,878,836 | 47,778,836 | (13,049,614 | ) | 34,729,222 | — | |||||||||||||||||||||||||||||||
Landings at Port Imperial | W. New York, NJ | — | 1999 | 276 | 27,246,045 | 37,741,050 | 7,383,017 | 27,246,045 | 45,124,067 | 72,370,112 | (23,206,569 | ) | 49,163,543 | — | |||||||||||||||||||||||||||||||
Legacy at Highlands Ranch | Highlands Ranch, CO | — | 1999 | 422 | 6,330,000 | 37,557,013 | 2,638,356 | 6,330,000 | 40,195,369 | 46,525,369 | (15,555,886 | ) | 30,969,483 | — | |||||||||||||||||||||||||||||||
Lincoln Heights | Quincy, MA | — | 1991 | 336 | 5,928,400 | 33,595,262 | 11,650,955 | 5,928,400 | 45,246,217 | 51,174,617 | (27,775,700 | ) | 23,398,917 | — | |||||||||||||||||||||||||||||||
Lofts 590 | Arlington, VA | — | 2005 | 212 | 20,100,000 | 67,909,023 | 103,786 | 20,100,000 | 68,012,809 | 88,112,809 | (6,942,600 | ) | 81,170,209 | — | |||||||||||||||||||||||||||||||
Lofts at Kendall Square (fka Kendall Square) | Cambridge, MA | — | 1998 | 186 | 23,300,000 | 78,445,657 | 2,018,131 | 23,300,000 | 80,463,788 | 103,763,788 | (8,212,576 | ) | 95,551,212 | — | |||||||||||||||||||||||||||||||
Longacre House | New York, NY | Y | 2000 | 293 | 73,170,045 | 53,962,510 | 1,359,584 | 73,170,045 | 55,322,094 | 128,492,139 | (17,329,569 | ) | 111,162,570 | — | |||||||||||||||||||||||||||||||
Longfellow Place | Boston, MA | Y | 1975 | 710 | 53,164,160 | 186,182,421 | 79,837,257 | 53,164,160 | 266,019,678 | 319,183,838 | (143,763,840 | ) | 175,419,998 | — | |||||||||||||||||||||||||||||||
Mantena | New York, NY | Y | 2012 | 98 | 22,346,513 | 61,501,158 | 261,029 | 22,346,513 | 61,762,187 | 84,108,700 | (6,972,870 | ) | 77,135,830 | — | |||||||||||||||||||||||||||||||
Marina 41 (fka Marina Del Rey) | Marina Del Rey, CA | — | 1973 | 623 | — | 168,842,442 | 3,512,278 | — | 172,354,720 | 172,354,720 | (20,885,949 | ) | 151,468,771 | — | |||||||||||||||||||||||||||||||
Mariposa at Playa Del Rey (fka Playa Del Rey) | Playa Del Rey, CA | — | 2004 | 354 | 60,900,000 | 89,311,482 | 2,751,781 | 60,900,000 | 92,063,263 | 152,963,263 | (10,307,910 | ) | 142,655,353 | — | |||||||||||||||||||||||||||||||
Marquessa | Corona Hills, CA | — | 1992 | 336 | 6,888,500 | 21,604,584 | 3,638,093 | 6,888,500 | 25,242,677 | 32,131,177 | (15,261,218 | ) | 16,869,959 | — | |||||||||||||||||||||||||||||||
Martine, The | Bellevue, WA | — | 1984 | 67 | 3,200,000 | 9,616,264 | 3,168,293 | 3,200,000 | 12,784,557 | 15,984,557 | (4,645,681 | ) | 11,338,876 | — | |||||||||||||||||||||||||||||||
Milano Lofts | Los Angeles, CA | Y | 1925/2006 | 99 | 8,125,216 | 27,378,784 | 337,583 | 8,125,216 | 27,716,367 | 35,841,583 | (3,549,329 | ) | 32,292,254 | — | |||||||||||||||||||||||||||||||
Millikan | Irvine, CA | — | (F) | — | 11,049,027 | 30,318,032 | — | 11,049,027 | 30,318,032 | 41,367,059 | — | 41,367,059 | — | ||||||||||||||||||||||||||||||||
Miramar Lakes | Miramar, FL | — | 2003 | 344 | 17,200,000 | 51,487,235 | 2,246,702 | 17,200,000 | 53,733,937 | 70,933,937 | (19,418,255 | ) | 51,515,682 | — | |||||||||||||||||||||||||||||||
Mosaic at Largo Station | Hyattsville, MD | — | 2008 | 242 | 4,120,800 | 42,477,297 | 543,227 | 4,120,800 | 43,020,524 | 47,141,324 | (11,883,141 | ) | 35,258,183 | — | |||||||||||||||||||||||||||||||
Mozaic at Union Station | Los Angeles, CA | — | 2007 | 272 | 8,500,000 | 52,529,446 | 1,415,603 | 8,500,000 | 53,945,049 | 62,445,049 | (16,666,145 | ) | 45,778,904 | — | |||||||||||||||||||||||||||||||
Murray Hill Tower (fka Murray Hill) | New York, NY | Y | 1974 | 270 | 75,800,000 | 102,705,401 | 2,298,858 | 75,800,000 | 105,004,259 | 180,804,259 | (14,081,429 | ) | 166,722,830 | — | |||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/14 | ||||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Retail/Commercial Space (G) | 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 12/31/14 (B) | Encumbrances | ||||||||||||||||||||||||||||||||
Northglen | Valencia, CA | — | 1988 | 234 | 9,360,000 | 20,778,553 | 2,130,660 | 9,360,000 | 22,909,213 | 32,269,213 | (11,564,178 | ) | 20,705,035 | — | |||||||||||||||||||||||||||||||
Northlake (MD) | Germantown, MD | — | 1985 | 304 | 15,000,000 | 23,142,302 | 10,324,900 | 15,000,000 | 33,467,202 | 48,467,202 | (16,634,313 | ) | 31,832,889 | — | |||||||||||||||||||||||||||||||
Northridge | Pleasant Hill, CA | — | 1974 | 221 | 5,527,800 | 14,691,705 | 10,017,139 | 5,527,800 | 24,708,844 | 30,236,644 | (14,954,766 | ) | 15,281,878 | — | |||||||||||||||||||||||||||||||
Oak Mill I | Germantown, MD | — | 1984 | 208 | 10,000,000 | 13,155,522 | 7,666,964 | 10,000,000 | 20,822,486 | 30,822,486 | (10,690,161 | ) | 20,132,325 | — | |||||||||||||||||||||||||||||||
Oak Park North | Agoura Hills, CA | — | 1990 | 220 | 1,706,900 | 15,362,666 | 4,313,705 | 1,706,900 | 19,676,371 | 21,383,271 | (12,773,791 | ) | 8,609,480 | — | |||||||||||||||||||||||||||||||
Oak Park South | Agoura Hills, CA | — | 1989 | 224 | 1,683,800 | 15,154,608 | 4,367,145 | 1,683,800 | 19,521,753 | 21,205,553 | (12,723,696 | ) | 8,481,857 | — | |||||||||||||||||||||||||||||||
Oaks at Falls Church | Falls Church, VA | — | 1966 | 176 | 20,240,000 | 20,152,616 | 3,918,112 | 20,240,000 | 24,070,728 | 44,310,728 | (9,576,777 | ) | 34,733,951 | — | |||||||||||||||||||||||||||||||
Oakwood Boston | Boston, MA | Y | 1901 | 94 | 22,200,000 | 28,672,979 | 803,040 | 22,200,000 | 29,476,019 | 51,676,019 | (3,687,255 | ) | 47,988,764 | — | |||||||||||||||||||||||||||||||
Oakwood Crystal City | Arlington, VA | — | 1987 | 162 | 15,400,000 | 35,474,336 | 320,085 | 15,400,000 | 35,794,421 | 51,194,421 | (4,189,805 | ) | 47,004,616 | — | |||||||||||||||||||||||||||||||
Oakwood Marina Del Rey | Marina Del Rey, CA | — | 1969 | 597 | — | 120,795,359 | 1,287,912 | — | 122,083,271 | 122,083,271 | (14,413,937 | ) | 107,669,334 | — | |||||||||||||||||||||||||||||||
Oasis at Delray Beach I | Delray Beach, FL | — | 1999 | 196 | 5,900,000 | 25,150,766 | 793,145 | 5,900,000 | 25,943,911 | 31,843,911 | (3,587,721 | ) | 28,256,190 | — | |||||||||||||||||||||||||||||||
Oasis at Delray Beach II | Delray Beach, FL | — | 2013 | 128 | 3,840,000 | 18,144,377 | 1,844 | 3,840,000 | 18,146,221 | 21,986,221 | (1,077,031 | ) | 20,909,190 | — | |||||||||||||||||||||||||||||||
Ocean Crest | Solana Beach, CA | — | 1986 | 146 | 5,111,200 | 11,910,438 | 2,935,597 | 5,111,200 | 14,846,035 | 19,957,235 | (8,670,106 | ) | 11,287,129 | — | |||||||||||||||||||||||||||||||
Olde Redmond Place | Redmond, WA | — | 1986 | 192 | 4,807,100 | 14,126,038 | 4,477,139 | 4,807,100 | 18,603,177 | 23,410,277 | (11,824,788 | ) | 11,585,489 | — | |||||||||||||||||||||||||||||||
One Henry Adams | San Francisco, CA | — | (F) | — | 30,952,393 | 8,970,233 | — | 30,952,393 | 8,970,233 | 39,922,626 | — | 39,922,626 | — | ||||||||||||||||||||||||||||||||
Orchard Ridge | Lynnwood, WA | — | 1988 | 104 | 480,600 | 4,372,033 | 1,640,650 | 480,600 | 6,012,683 | 6,493,283 | (4,200,950 | ) | 2,292,333 | — | |||||||||||||||||||||||||||||||
Pacific Place | Los Angeles, CA | — | 2008 | 430 | 32,250,000 | 110,750,000 | 572,991 | 32,250,000 | 111,322,991 | 143,572,991 | (9,391,616 | ) | 134,181,375 | — | |||||||||||||||||||||||||||||||
Palm Trace Landings | Davie, FL | — | 1995 | 768 | 38,400,000 | 105,693,432 | 4,412,321 | 38,400,000 | 110,105,753 | 148,505,753 | (39,754,320 | ) | 108,751,433 | — | |||||||||||||||||||||||||||||||
Parc 77 | New York, NY | Y | 1903 | 137 | 40,504,000 | 18,025,679 | 5,211,253 | 40,504,000 | 23,236,932 | 63,740,932 | (9,380,110 | ) | 54,360,822 | — | |||||||||||||||||||||||||||||||
Parc Cameron | New York, NY | Y | 1927 | 166 | 37,600,000 | 9,855,597 | 6,069,564 | 37,600,000 | 15,925,161 | 53,525,161 | (7,957,659 | ) | 45,567,502 | — | |||||||||||||||||||||||||||||||
Parc Coliseum | New York, NY | Y | 1910 | 177 | 52,654,000 | 23,045,751 | 7,981,026 | 52,654,000 | 31,026,777 | 83,680,777 | (12,833,483 | ) | 70,847,294 | — | |||||||||||||||||||||||||||||||
Parc East Towers | New York, NY | Y | 1977 | 324 | 102,163,000 | 108,989,402 | 7,888,302 | 102,163,000 | 116,877,704 | 219,040,704 | (35,905,223 | ) | 183,135,481 | — | |||||||||||||||||||||||||||||||
Parc on Powell (fka Parkside at Emeryville) | Emeryville, CA | Y | (F) | — | 16,657,467 | 55,107,488 | — | 16,657,467 | 55,107,488 | 71,764,955 | — | 71,764,955 | — | ||||||||||||||||||||||||||||||||
Park Aire | Wellington, FL | — | 2014 | 268 | 8,000,000 | 40,917,239 | 7,790 | 8,000,000 | 40,925,029 | 48,925,029 | (1,877,464 | ) | 47,047,565 | — | |||||||||||||||||||||||||||||||
Park at Pentagon Row (fka Pentagon City) | Arlington, VA | Y | 1990 | 298 | 28,300,000 | 78,838,184 | 313,935 | 28,300,000 | 79,152,119 | 107,452,119 | (8,734,530 | ) | 98,717,589 | — | |||||||||||||||||||||||||||||||
Park at Turtle Run, The | Coral Springs, FL | — | 2001 | 257 | 15,420,000 | 36,064,629 | 1,328,323 | 15,420,000 | 37,392,952 | 52,812,952 | (14,395,758 | ) | 38,417,194 | — | |||||||||||||||||||||||||||||||
Park Connecticut | Washington, D.C. | — | 2000 | 142 | 13,700,000 | 59,087,519 | 438,263 | 13,700,000 | 59,525,782 | 73,225,782 | (5,926,288 | ) | 67,299,494 | — | |||||||||||||||||||||||||||||||
Park Hacienda (fka Hacienda) | Pleasanton, CA | — | 2000 | 540 | 43,200,000 | 128,753,359 | 418,551 | 43,200,000 | 129,171,910 | 172,371,910 | (15,002,224 | ) | 157,369,686 | — | |||||||||||||||||||||||||||||||
Park West (CA) | Los Angeles, CA | — | 1987/1990 | 444 | 3,033,500 | 27,302,383 | 8,693,445 | 3,033,500 | 35,995,828 | 39,029,328 | (23,298,739 | ) | 15,730,589 | — | |||||||||||||||||||||||||||||||
Parkfield | Denver, CO | — | 2000 | 476 | 8,330,000 | 28,667,618 | 3,305,900 | 8,330,000 | 31,973,518 | 40,303,518 | (16,037,171 | ) | 24,266,347 | — | |||||||||||||||||||||||||||||||
Parkside | Union City, CA | — | 1979 | 208 | 6,246,700 | 11,827,453 | 3,900,616 | 6,246,700 | 15,728,069 | 21,974,769 | (10,008,760 | ) | 11,966,009 | — | |||||||||||||||||||||||||||||||
Pegasus | Los Angeles, CA | Y | 1949/2003 | 322 | 18,094,052 | 81,905,948 | 2,301,007 | 18,094,052 | 84,206,955 | 102,301,007 | (16,114,037 | ) | 86,186,970 | — | |||||||||||||||||||||||||||||||
Phillips Park | Wellesley, MA | — | 1988 | 49 | 816,922 | 5,460,955 | 1,092,085 | 816,922 | 6,553,040 | 7,369,962 | (3,527,505 | ) | 3,842,457 | — | |||||||||||||||||||||||||||||||
Playa Pacifica | Hermosa Beach, CA | — | 1972 | 285 | 35,100,000 | 33,473,822 | 8,205,881 | 35,100,000 | 41,679,703 | 76,779,703 | (18,071,577 | ) | 58,708,126 | — | |||||||||||||||||||||||||||||||
Portofino | Chino Hills, CA | — | 1989 | 176 | 3,572,400 | 14,660,994 | 3,469,722 | 3,572,400 | 18,130,716 | 21,703,116 | (10,641,056 | ) | 11,062,060 | — | |||||||||||||||||||||||||||||||
Portofino (Val) | Valencia, CA | — | 1989 | 216 | 8,640,000 | 21,487,126 | 2,770,117 | 8,640,000 | 24,257,243 | 32,897,243 | (12,417,735 | ) | 20,479,508 | — | |||||||||||||||||||||||||||||||
Portside Towers | Jersey City, NJ | Y | 1992-1997 | 527 | 22,487,006 | 96,842,913 | 19,411,866 | 22,487,006 | 116,254,779 | 138,741,785 | (66,421,447 | ) | 72,320,338 | — | |||||||||||||||||||||||||||||||
Potrero | San Francisco, CA | Y | (F) | — | 40,830,011 | 31,523,663 | — | 40,830,011 | 31,523,663 | 72,353,674 | — | 72,353,674 | — | ||||||||||||||||||||||||||||||||
Prado (fka Glendale) | Glendale, CA | — | 1988 | 264 | — | 67,977,313 | 1,102,967 | — | 69,080,280 | 69,080,280 | (7,364,217 | ) | 61,716,063 | — | |||||||||||||||||||||||||||||||
Preserve at Deer Creek | Deerfield Beach, FL | — | 1997 | 540 | 13,500,000 | 60,011,208 | 11,156,351 | 13,500,000 | 71,167,559 | 84,667,559 | (27,613,392 | ) | 57,054,167 | — | |||||||||||||||||||||||||||||||
Prime, The | Arlington, VA | — | 2002 | 256 | 32,000,000 | 64,436,539 | 1,229,561 | 32,000,000 | 65,666,100 | 97,666,100 | (21,188,390 | ) | 76,477,710 | — | |||||||||||||||||||||||||||||||
Promenade at Aventura | Aventura, FL | — | 1995 | 296 | 13,320,000 | 30,353,748 | 6,987,572 | 13,320,000 | 37,341,320 | 50,661,320 | (18,578,470 | ) | 32,082,850 | — | |||||||||||||||||||||||||||||||
Promenade at Town Center I | Valencia, CA | — | 2001 | 294 | 14,700,000 | 35,390,279 | 2,630,025 | 14,700,000 | 38,020,304 | 52,720,304 | (15,471,823 | ) | 37,248,481 | — | |||||||||||||||||||||||||||||||
Promenade at Town Center II | Valencia, CA | — | 2001 | 270 | 13,500,000 | 34,405,636 | 2,374,656 | 13,500,000 | 36,780,292 | 50,280,292 | (14,862,278 | ) | 35,418,014 | — | |||||||||||||||||||||||||||||||
Promenade at Wyndham Lakes | Coral Springs, FL | — | 1998 | 332 | 6,640,000 | 26,743,760 | 5,169,866 | 6,640,000 | 31,913,626 | 38,553,626 | (16,302,998 | ) | 22,250,628 | — | |||||||||||||||||||||||||||||||
Promenade Terrace | Corona, CA | — | 1990 | 330 | 2,272,800 | 20,546,289 | 5,975,907 | 2,272,800 | 26,522,196 | 28,794,996 | (17,641,430 | ) | 11,153,566 | — | |||||||||||||||||||||||||||||||
Quarry Hills | Quincy, MA | — | 2006 | 316 | 26,900,000 | 84,411,162 | 417,784 | 26,900,000 | 84,828,946 | 111,728,946 | (9,818,230 | ) | 101,910,716 | — | |||||||||||||||||||||||||||||||
Red 160 (fka Redmond Way) | Redmond, WA | Y | 2011 | 250 | 15,546,376 | 65,320,010 | 761,676 | 15,546,376 | 66,081,686 | 81,628,062 | (8,975,666 | ) | 72,652,396 | — | |||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/14 | ||||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Retail/Commercial Space (G) | 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 12/31/14 (B) | Encumbrances | ||||||||||||||||||||||||||||||||
Red Road Commons | Miami, FL | Y | 2009 | 404 | 27,383,547 | 99,656,440 | 2,120,113 | 27,383,547 | 101,776,553 | 129,160,100 | (18,087,040 | ) | 111,073,060 | — | |||||||||||||||||||||||||||||||
Redmond Court | Bellevue, WA | — | 1977 | 206 | 10,300,000 | 33,488,745 | 607,648 | 10,300,000 | 34,096,393 | 44,396,393 | (3,981,275 | ) | 40,415,118 | — | |||||||||||||||||||||||||||||||
Regency Palms | Huntington Beach, CA | — | 1969 | 310 | 1,857,400 | 16,713,254 | 5,435,303 | 1,857,400 | 22,148,557 | 24,005,957 | (15,007,785 | ) | 8,998,172 | — | |||||||||||||||||||||||||||||||
Renaissance Villas | Berkeley, CA | Y | 1998 | 34 | 2,458,000 | 4,542,000 | 140,950 | 2,458,000 | 4,682,950 | 7,140,950 | (1,389,449 | ) | 5,751,501 | — | |||||||||||||||||||||||||||||||
Reserve at Ashley Lake | Boynton Beach, FL | — | 1990 | 440 | 3,520,400 | 23,332,494 | 6,923,362 | 3,520,400 | 30,255,856 | 33,776,256 | (18,742,933 | ) | 15,033,323 | — | |||||||||||||||||||||||||||||||
Reserve at Mountain View (fka Mountian View) | Mountain View, CA | — | 1965 | 180 | 27,000,000 | 33,029,605 | 242,910 | 27,000,000 | 33,272,515 | 60,272,515 | (4,243,783 | ) | 56,028,732 | — | |||||||||||||||||||||||||||||||
Reserve at Town Center II (WA) | Mill Creek, WA | — | 2009 | 100 | 4,310,417 | 17,165,142 | 84,183 | 4,310,417 | 17,249,325 | 21,559,742 | (3,154,760 | ) | 18,404,982 | — | |||||||||||||||||||||||||||||||
Reserve at Town Center III | Mill Creek, WA | Y | 2014 | 95 | 2,089,388 | 19,174,300 | 1,431 | 2,089,388 | 19,175,731 | 21,265,119 | (736,100 | ) | 20,529,019 | — | |||||||||||||||||||||||||||||||
Residences at Bayview | Pompano Beach, FL | Y | 2004 | 225 | 5,783,545 | 39,334,455 | 1,213,792 | 5,783,545 | 40,548,247 | 46,331,792 | (9,079,046 | ) | 37,252,746 | — | |||||||||||||||||||||||||||||||
Residences at Westgate I (fka Westgate II) | Pasadena, CA | Y | 2014 | 252 | 17,859,785 | 106,746,558 | — | 17,859,785 | 106,746,558 | 124,606,343 | (1,278,424 | ) | 123,327,919 | — | |||||||||||||||||||||||||||||||
Residences at Westgate II (fka Westgate III) | Pasadena, CA | Y | (F) | — | 12,118,061 | 33,542,963 | — | 12,118,061 | 33,542,963 | 45,661,024 | — | 45,661,024 | — | ||||||||||||||||||||||||||||||||
Reunion at Redmond Ridge (fka Redmond Ridge) | Redmond, WA | — | 2008 | 321 | 6,975,705 | 46,175,001 | 300,070 | 6,975,705 | 46,475,071 | 53,450,776 | (11,417,545 | ) | 42,033,231 | — | |||||||||||||||||||||||||||||||
Rianna I | Seattle, WA | Y | 2000 | 78 | 2,268,160 | 14,864,482 | 425,331 | 2,268,160 | 15,289,813 | 17,557,973 | (3,897,325 | ) | 13,660,648 | — | |||||||||||||||||||||||||||||||
Ridgewood Village I&II | San Diego, CA | — | 1997 | 408 | 11,809,500 | 34,004,048 | 4,650,898 | 11,809,500 | 38,654,946 | 50,464,446 | (19,997,912 | ) | 30,466,534 | — | |||||||||||||||||||||||||||||||
Riva Terra I (fka Redwood Shores) | Redwood City, CA | — | 1986 | 304 | 34,963,355 | 84,587,658 | 957,762 | 34,963,355 | 85,545,420 | 120,508,775 | (9,986,376 | ) | 110,522,399 | — | |||||||||||||||||||||||||||||||
Riva Terra II (fka Harborside) | Redwood City, CA | — | 1986 | 149 | 17,136,645 | 40,536,531 | 1,331,562 | 17,136,645 | 41,868,093 | 59,004,738 | (4,516,747 | ) | 54,487,991 | — | |||||||||||||||||||||||||||||||
River Tower | New York, NY | Y | 1982 | 323 | 118,669,441 | 98,880,559 | 5,781,678 | 118,669,441 | 104,662,237 | 223,331,678 | (28,053,948 | ) | 195,277,730 | — | |||||||||||||||||||||||||||||||
Riverpark | Redmond, WA | Y | 2009 | 319 | 14,355,000 | 80,894,049 | 625,094 | 14,355,000 | 81,519,143 | 95,874,143 | (11,733,102 | ) | 84,141,041 | — | |||||||||||||||||||||||||||||||
Rivers Bend (CT) | Windsor, CT | — | 1973 | 373 | 3,325,517 | 22,573,826 | 3,186,964 | 3,325,517 | 25,760,790 | 29,086,307 | (13,537,132 | ) | 15,549,175 | — | |||||||||||||||||||||||||||||||
Riverview Condominiums | Norwalk, CT | — | 1991 | 92 | 2,300,000 | 7,406,730 | 2,467,328 | 2,300,000 | 9,874,058 | 12,174,058 | (5,541,526 | ) | 6,632,532 | — | |||||||||||||||||||||||||||||||
Rolling Green (Milford) | Milford, MA | — | 1970 | 304 | 2,012,350 | 13,452,150 | 5,922,309 | 2,012,350 | 19,374,459 | 21,386,809 | (10,707,965 | ) | 10,678,844 | — | |||||||||||||||||||||||||||||||
Rosecliff II | Quincy, MA | — | 2005 | 130 | 4,922,840 | 30,202,160 | 477,564 | 4,922,840 | 30,679,724 | 35,602,564 | (5,256,770 | ) | 30,345,794 | — | |||||||||||||||||||||||||||||||
Sabal Pointe | Coral Springs, FL | — | 1995 | 276 | 1,951,600 | 17,570,508 | 7,140,842 | 1,951,600 | 24,711,350 | 26,662,950 | (15,728,545 | ) | 10,934,405 | — | |||||||||||||||||||||||||||||||
Sage | Everett, WA | — | 2002 | 123 | 2,500,000 | 12,021,256 | 632,845 | 2,500,000 | 12,654,101 | 15,154,101 | (4,686,644 | ) | 10,467,457 | — | |||||||||||||||||||||||||||||||
Sakura Crossing | Los Angeles, CA | Y | 2009 | 230 | 14,641,990 | 42,858,010 | 445,099 | 14,641,990 | 43,303,109 | 57,945,099 | (8,084,997 | ) | 49,860,102 | — | |||||||||||||||||||||||||||||||
Savoy at Dayton Station I & II (fka Savoy I) | Aurora, CO | — | 2001 | 444 | 5,450,295 | 38,765,670 | 3,405,215 | 5,450,295 | 42,170,885 | 47,621,180 | (17,320,767 | ) | 30,300,413 | — | |||||||||||||||||||||||||||||||
Savoy at Dayton Station III (fka Savoy III) | Aurora, CO | — | 2012 | 168 | 659,165 | 21,274,302 | 79,142 | 659,165 | 21,353,444 | 22,012,609 | (2,539,418 | ) | 19,473,191 | — | |||||||||||||||||||||||||||||||
Scarborough Square | Rockville, MD | — | 1967 | 121 | 1,815,000 | 7,608,126 | 2,968,824 | 1,815,000 | 10,576,950 | 12,391,950 | (6,577,786 | ) | 5,814,164 | — | |||||||||||||||||||||||||||||||
Seventh & James | Seattle, WA | — | 1992 | 96 | 663,800 | 5,974,803 | 3,665,212 | 663,800 | 9,640,015 | 10,303,815 | (6,286,805 | ) | 4,017,010 | — | |||||||||||||||||||||||||||||||
Shadow Creek | Winter Springs, FL | — | 2000 | 280 | 6,000,000 | 21,719,768 | 2,299,111 | 6,000,000 | 24,018,879 | 30,018,879 | (9,913,377 | ) | 20,105,502 | — | |||||||||||||||||||||||||||||||
Sheffield Court | Arlington, VA | — | 1986 | 597 | 3,342,381 | 31,337,332 | 13,400,936 | 3,342,381 | 44,738,268 | 48,080,649 | (29,786,965 | ) | 18,293,684 | — | |||||||||||||||||||||||||||||||
Sheridan Lake Club | Dania Beach, FL | — | 2001 | 240 | 12,000,000 | 23,170,580 | 1,964,151 | 12,000,000 | 25,134,731 | 37,134,731 | (9,437,897 | ) | 27,696,834 | — | |||||||||||||||||||||||||||||||
Sheridan Ocean Club Combined | Dania Beach, FL | — | 1991 | 648 | 18,313,414 | 47,091,594 | 17,651,928 | 18,313,414 | 64,743,522 | 83,056,936 | (32,954,888 | ) | 50,102,048 | — | |||||||||||||||||||||||||||||||
Skycrest | Valencia, CA | — | 1999 | 264 | 10,560,000 | 25,574,457 | 2,362,878 | 10,560,000 | 27,937,335 | 38,497,335 | (14,051,911 | ) | 24,445,424 | — | |||||||||||||||||||||||||||||||
Skylark | Union City, CA | — | 1986 | 174 | 1,781,600 | 16,731,916 | 2,659,208 | 1,781,600 | 19,391,124 | 21,172,724 | (10,873,674 | ) | 10,299,050 | — | |||||||||||||||||||||||||||||||
Skyline Terrace | Burlingame, CA | — | 1967 & 1987 | 138 | 16,836,000 | 35,414,000 | 4,187,335 | 16,836,000 | 39,601,335 | 56,437,335 | (8,225,224 | ) | 48,212,111 | — | |||||||||||||||||||||||||||||||
Skyline Towers | Falls Church, VA | Y | 1971 | 939 | 78,278,200 | 91,485,591 | 32,273,806 | 78,278,200 | 123,759,397 | 202,037,597 | (54,795,726 | ) | 147,241,871 | — | |||||||||||||||||||||||||||||||
Sonterra at Foothill Ranch | Foothill Ranch, CA | — | 1997 | 300 | 7,503,400 | 24,048,507 | 2,564,362 | 7,503,400 | 26,612,869 | 34,116,269 | (15,189,055 | ) | 18,927,214 | — | |||||||||||||||||||||||||||||||
South City Station (fka South San Francisco) | San Francisco, CA | Y | 2007 | 360 | 68,900,000 | 79,476,861 | 1,392,508 | 68,900,000 | 80,869,369 | 149,769,369 | (9,849,234 | ) | 139,920,135 | — | |||||||||||||||||||||||||||||||
South Winds | Fall River, MA | — | 1971 | 404 | 2,481,821 | 16,780,359 | 5,195,897 | 2,481,821 | 21,976,256 | 24,458,077 | (12,085,135 | ) | 12,372,942 | — | |||||||||||||||||||||||||||||||
Southwood | Palo Alto, CA | — | 1985 | 100 | 6,936,600 | 14,324,069 | 3,085,293 | 6,936,600 | 17,409,362 | 24,345,962 | (10,084,791 | ) | 14,261,171 | — | |||||||||||||||||||||||||||||||
Springbrook Estates | Riverside, CA | — | (F) | — | 18,200,000 | — | — | 18,200,000 | — | 18,200,000 | — | 18,200,000 | — | ||||||||||||||||||||||||||||||||
Square One | Seattle, WA | — | 2014 | 112 | 7,222,544 | 26,277,456 | (4 | ) | 7,222,544 | 26,277,452 | 33,499,996 | (93,215 | ) | 33,406,781 | — | ||||||||||||||||||||||||||||||
St. Andrews at Winston Park | Coconut Creek, FL | — | 1997 | 284 | 5,680,000 | 19,812,090 | 5,167,806 | 5,680,000 | 24,979,896 | 30,659,896 | (11,483,152 | ) | 19,176,744 | — | |||||||||||||||||||||||||||||||
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 | 3,477,936 | 1,757,438 | 15,226,048 | 16,983,486 | (8,409,730 | ) | 8,573,756 | — | |||||||||||||||||||||||||||||||
Summit at Lake Union | Seattle, WA | — | 1995 -1997 | 150 | 1,424,700 | 12,852,461 | 4,489,502 | 1,424,700 | 17,341,963 | 18,766,663 | (10,565,888 | ) | 8,200,775 | — | |||||||||||||||||||||||||||||||
Summit at Sausalito (fka Sausalito) | Sausalito, CA | — | 1978 | 198 | 26,000,000 | 28,435,024 | 1,373,534 | 26,000,000 | 29,808,558 | 55,808,558 | (4,476,616 | ) | 51,331,942 | — | |||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/14 | ||||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Retail/Commercial Space (G) | 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 12/31/14 (B) | Encumbrances | ||||||||||||||||||||||||||||||||
Tallman | Seattle, WA | — | (F) | — | 16,842,249 | 38,951,437 | — | 16,842,249 | 38,951,437 | 55,793,686 | — | 55,793,686 | — | ||||||||||||||||||||||||||||||||
Tasman (fka Vista Montana - Residential) | San Jose, CA | — | (F) | — | 27,709,329 | 91,844,910 | — | 27,709,329 | 91,844,910 | 119,554,239 | — | 119,554,239 | — | ||||||||||||||||||||||||||||||||
Ten23 (fka 500 West 23rd Street) | New York, NY | Y | 2011 | 111 | — | 58,856,293 | 109,788 | — | 58,966,081 | 58,966,081 | (6,036,550 | ) | 52,929,531 | — | |||||||||||||||||||||||||||||||
Terraces, The | San Francisco, CA | Y | 1975 | 117 | 14,087,610 | 16,314,151 | 698,702 | 14,087,610 | 17,012,853 | 31,100,463 | (3,403,077 | ) | 27,697,386 | — | |||||||||||||||||||||||||||||||
Third Square | Cambridge, MA | Y | 2008/2009 | 471 | 26,767,171 | 218,822,728 | 3,859,006 | 26,767,171 | 222,681,734 | 249,448,905 | (46,866,757 | ) | 202,582,148 | — | |||||||||||||||||||||||||||||||
Three20 | Seattle, WA | Y | 2013 | 134 | 7,030,766 | 29,078,811 | 324,200 | 7,030,766 | 29,403,011 | 36,433,777 | (1,679,563 | ) | 34,754,214 | — | |||||||||||||||||||||||||||||||
Tortuga Bay | Orlando, FL | — | 2004 | 314 | 6,280,000 | 32,121,779 | 1,652,231 | 6,280,000 | 33,774,010 | 40,054,010 | (12,539,818 | ) | 27,514,192 | — | |||||||||||||||||||||||||||||||
Town Center South Commercial Tract | St. Charles, MD | — | (F) | — | 1,500,000 | 5,499 | — | 1,500,000 | 5,499 | 1,505,499 | — | 1,505,499 | — | ||||||||||||||||||||||||||||||||
Town Square at Mark Center II | Alexandria, VA | — | 2001 | 272 | 15,568,464 | 55,029,607 | 674,851 | 15,568,464 | 55,704,458 | 71,272,922 | (12,914,649 | ) | 58,358,273 | — | |||||||||||||||||||||||||||||||
Trump Place, 140 Riverside | New York, NY | Y | 2003 | 354 | 103,539,100 | 94,082,725 | 4,343,151 | 103,539,100 | 98,425,876 | 201,964,976 | (33,587,819 | ) | 168,377,157 | — | |||||||||||||||||||||||||||||||
Trump Place, 160 Riverside | New York, NY | Y | 2001 | 455 | 139,933,500 | 190,964,745 | 10,315,504 | 139,933,500 | 201,280,249 | 341,213,749 | (67,180,501 | ) | 274,033,248 | — | |||||||||||||||||||||||||||||||
Trump Place, 180 Riverside | New York, NY | Y | 1998 | 516 | 144,968,250 | 138,346,681 | 8,758,301 | 144,968,250 | 147,104,982 | 292,073,232 | (50,963,924 | ) | 241,109,308 | — | |||||||||||||||||||||||||||||||
Urbana (fka Market Street Landing) | Seattle, WA | Y | 2014 | 287 | 12,542,418 | 74,247,060 | 592,913 | 12,542,418 | 74,839,973 | 87,382,391 | (2,706,973 | ) | 84,675,418 | — | |||||||||||||||||||||||||||||||
Uwajimaya Village | Seattle, WA | — | 2002 | 176 | 8,800,000 | 22,188,288 | 463,663 | 8,800,000 | 22,651,951 | 31,451,951 | (8,690,210 | ) | 22,761,741 | — | |||||||||||||||||||||||||||||||
Vantage Pointe | San Diego, CA | Y | 2009 | 679 | 9,403,960 | 190,596,040 | 6,068,618 | 9,403,960 | 196,664,658 | 206,068,618 | (37,027,336 | ) | 169,041,282 | — | |||||||||||||||||||||||||||||||
Veloce | Redmond, WA | Y | 2009 | 322 | 15,322,724 | 76,176,594 | 253,112 | 15,322,724 | 76,429,706 | 91,752,430 | (7,951,300 | ) | 83,801,130 | — | |||||||||||||||||||||||||||||||
Verde Condominium Homes (fka Mission Verde, LLC) | San Jose, CA | — | 1986 | 108 | 5,190,700 | 9,679,109 | 3,659,737 | 5,190,700 | 13,338,846 | 18,529,546 | (8,271,659 | ) | 10,257,887 | — | |||||||||||||||||||||||||||||||
Veridian (fka Silver Spring) | Silver Spring, MD | Y | 2009 | 457 | 18,539,817 | 130,407,365 | 1,187,628 | 18,539,817 | 131,594,993 | 150,134,810 | (25,425,869 | ) | 124,708,941 | — | |||||||||||||||||||||||||||||||
Villa Solana | Laguna Hills, CA | — | 1984 | 272 | 1,665,100 | 14,985,678 | 9,004,790 | 1,665,100 | 23,990,468 | 25,655,568 | (16,477,170 | ) | 9,178,398 | — | |||||||||||||||||||||||||||||||
Village at Bear Creek | Lakewood, CO | — | 1987 | 472 | 4,519,700 | 40,676,390 | 5,730,669 | 4,519,700 | 46,407,059 | 50,926,759 | (28,337,074 | ) | 22,589,685 | — | |||||||||||||||||||||||||||||||
Village at Del Mar Heights, The (fka Del Mar Heights) | San Diego, CA | — | 1986 | 168 | 15,100,000 | 40,859,396 | 252,027 | 15,100,000 | 41,111,423 | 56,211,423 | (4,661,947 | ) | 51,549,476 | — | |||||||||||||||||||||||||||||||
Village at Howard Hughes, The (Lots 1 & 2) | Los Angeles, CA | — | (F) | — | 43,783,485 | 42,858,234 | — | 43,783,485 | 42,858,234 | 86,641,719 | — | 86,641,719 | — | ||||||||||||||||||||||||||||||||
Virginia Square | Arlington, VA | Y | 2002 | 231 | — | 85,940,003 | 1,862,631 | — | 87,802,634 | 87,802,634 | (9,021,044 | ) | 78,781,590 | — | |||||||||||||||||||||||||||||||
Vista Del Lago | Mission Viejo, CA | — | 1986-1988 | 608 | 4,525,800 | 40,736,293 | 15,509,600 | 4,525,800 | 56,245,893 | 60,771,693 | (39,353,877 | ) | 21,417,816 | — | |||||||||||||||||||||||||||||||
Walden Park | Cambridge, MA | — | 1966 | 232 | 12,448,888 | 52,044,448 | 3,585,931 | 12,448,888 | 55,630,379 | 68,079,267 | (10,279,717 | ) | 57,799,550 | — | |||||||||||||||||||||||||||||||
Waterford Place (CO) | Thornton, CO | — | 1998 | 336 | 5,040,000 | 29,946,419 | 1,892,852 | 5,040,000 | 31,839,271 | 36,879,271 | (13,850,610 | ) | 23,028,661 | — | |||||||||||||||||||||||||||||||
Watertown Square | Watertown, MA | Y | 2005 | 134 | 16,800,000 | 34,074,056 | 273,661 | 16,800,000 | 34,347,717 | 51,147,717 | (3,888,131 | ) | 47,259,586 | — | |||||||||||||||||||||||||||||||
Webster Green | Needham, MA | — | 1985 | 77 | 1,418,893 | 9,485,006 | 1,311,268 | 1,418,893 | 10,796,274 | 12,215,167 | (5,513,744 | ) | 6,701,423 | — | |||||||||||||||||||||||||||||||
Welleby Lake Club | Sunrise, FL | — | 1991 | 304 | 3,648,000 | 17,620,879 | 6,006,733 | 3,648,000 | 23,627,612 | 27,275,612 | (13,651,141 | ) | 13,624,471 | — | |||||||||||||||||||||||||||||||
West 96th | New York, NY | Y | 1987 | 207 | 84,800,000 | 67,055,502 | 1,691,019 | 84,800,000 | 68,746,521 | 153,546,521 | (10,502,306 | ) | 143,044,215 | — | |||||||||||||||||||||||||||||||
West End Apartments (fka Emerson Place/ CRP II) | Boston, MA | Y | 2008 | 310 | 469,546 | 163,123,022 | 1,657,912 | 469,546 | 164,780,934 | 165,250,480 | (38,899,184 | ) | 126,351,296 | — | |||||||||||||||||||||||||||||||
Westchester at Pavilions | Waldorf, MD | Y | 2009 | 491 | 11,900,000 | 89,612,465 | 454,376 | 11,900,000 | 90,066,841 | 101,966,841 | (8,949,050 | ) | 93,017,791 | — | |||||||||||||||||||||||||||||||
Westchester at Rockville | Rockville, MD | — | 2009 | 192 | 10,600,000 | 44,135,207 | 277,296 | 10,600,000 | 44,412,503 | 55,012,503 | (5,009,486 | ) | 50,003,017 | — | |||||||||||||||||||||||||||||||
Westmont | New York, NY | Y | 1986 | 163 | 64,900,000 | 61,143,259 | 761,971 | 64,900,000 | 61,905,230 | 126,805,230 | (7,967,408 | ) | 118,837,822 | — | |||||||||||||||||||||||||||||||
Westside | Los Angeles, CA | — | 2004 | 204 | 34,200,000 | 56,962,630 | 1,269,381 | 34,200,000 | 58,232,011 | 92,432,011 | (6,264,171 | ) | 86,167,840 | — | |||||||||||||||||||||||||||||||
Westside Villas I | Los Angeles, CA | — | 1999 | 21 | 1,785,000 | 3,233,254 | 357,453 | 1,785,000 | 3,590,707 | 5,375,707 | (1,813,481 | ) | 3,562,226 | — | |||||||||||||||||||||||||||||||
Westside Villas II | Los Angeles, CA | — | 1999 | 23 | 1,955,000 | 3,541,435 | 250,691 | 1,955,000 | 3,792,126 | 5,747,126 | (1,850,426 | ) | 3,896,700 | — | |||||||||||||||||||||||||||||||
Westside Villas III | Los Angeles, CA | — | 1999 | 36 | 3,060,000 | 5,538,871 | 377,157 | 3,060,000 | 5,916,028 | 8,976,028 | (2,880,318 | ) | 6,095,710 | — | |||||||||||||||||||||||||||||||
Westside Villas IV | Los Angeles, CA | — | 1999 | 36 | 3,060,000 | 5,539,390 | 385,604 | 3,060,000 | 5,924,994 | 8,984,994 | (2,887,551 | ) | 6,097,443 | — | |||||||||||||||||||||||||||||||
Westside Villas V | Los Angeles, CA | — | 1999 | 60 | 5,100,000 | 9,224,485 | 657,592 | 5,100,000 | 9,882,077 | 14,982,077 | (4,823,944 | ) | 10,158,133 | — | |||||||||||||||||||||||||||||||
Westside Villas VI | Los Angeles, CA | — | 1989 | 18 | 1,530,000 | 3,023,523 | 318,754 | 1,530,000 | 3,342,277 | 4,872,277 | (1,665,408 | ) | 3,206,869 | — | |||||||||||||||||||||||||||||||
Westside Villas VII | Los Angeles, CA | — | 2001 | 53 | 4,505,000 | 10,758,900 | 616,684 | 4,505,000 | 11,375,584 | 15,880,584 | (4,960,551 | ) | 10,920,033 | — | |||||||||||||||||||||||||||||||
Westwood Glen | Westwood, MA | — | 1972 | 156 | 1,616,505 | 10,806,004 | 2,225,649 | 1,616,505 | 13,031,653 | 14,648,158 | (6,710,710 | ) | 7,937,448 | — | |||||||||||||||||||||||||||||||
Windridge (CA) | Laguna Niguel, CA | — | 1989 | 344 | 2,662,900 | 23,985,497 | 8,684,076 | 2,662,900 | 32,669,573 | 35,332,473 | (21,637,211 | ) | 13,695,262 | — | |||||||||||||||||||||||||||||||
Winston, The (FL) | Pembroke Pines, FL | — | 2001/2003 | 464 | 18,561,000 | 49,527,569 | 2,852,872 | 18,561,000 | 52,380,441 | 70,941,441 | (18,475,139 | ) | 52,466,302 | — | |||||||||||||||||||||||||||||||
Wood Creek I | Pleasant Hill, CA | — | 1987 | 256 | 9,729,900 | 23,009,768 | 6,555,668 | 9,729,900 | 29,565,436 | 39,295,336 | (17,862,164 | ) | 21,433,172 | — | |||||||||||||||||||||||||||||||
Woodbridge (CT) | Newington, CT | — | 1968 | 73 | 498,377 | 3,331,548 | 1,266,343 | 498,377 | 4,597,891 | 5,096,268 | (2,465,999 | ) | 2,630,269 | — | |||||||||||||||||||||||||||||||
Woodlake (WA) | Kirkland, WA | — | 1984 | 288 | 6,631,400 | 16,735,484 | 3,790,078 | 6,631,400 | 20,525,562 | 27,156,962 | (12,057,883 | ) | 15,099,079 | — | |||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/14 | ||||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Retail/Commercial Space (G) | 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 12/31/14 (B) | Encumbrances | ||||||||||||||||||||||||||||||||
Woodland Park | East Palo Alto, CA | Y | 1953 | 1,809 | 72,627,418 | 57,649,069 | 9,382,472 | 72,627,418 | 67,031,541 | 139,658,959 | (24,058,784 | ) | 115,600,175 | — | |||||||||||||||||||||||||||||||
Management Business | Chicago, IL | — | (D) | — | — | — | 103,392,322 | — | 103,392,322 | 103,392,322 | (79,507,853 | ) | 23,884,469 | — | |||||||||||||||||||||||||||||||
Operating Partnership | Chicago, IL | — | (F) | — | — | 1,434,910 | — | — | 1,434,910 | 1,434,910 | — | 1,434,910 | — | ||||||||||||||||||||||||||||||||
EQR Wholly Owned Unencumbered | 69,217 | 4,798,437,902 | 12,737,799,082 | 1,002,255,162 | 4,798,437,902 | 13,740,054,244 | 18,538,492,146 | (3,650,524,741 | ) | 14,887,967,405 | — | ||||||||||||||||||||||||||||||||||
EQR Wholly Owned Encumbered: | |||||||||||||||||||||||||||||||||||||||||||||
101 West End | New York, NY | Y | 2000 | 506 | 190,600,000 | 131,374,708 | 1,868,722 | 190,600,000 | 133,243,430 | 323,843,430 | (19,903,961 | ) | 303,939,469 | 104,781,651 | |||||||||||||||||||||||||||||||
1401 Joyce on Pentagon Row | Arlington, VA | — | 2004 | 326 | 9,780,000 | 89,668,165 | 793,393 | 9,780,000 | 90,461,558 | 100,241,558 | (22,366,104 | ) | 77,875,454 | 57,428,472 | |||||||||||||||||||||||||||||||
2501 Porter | Washington, D.C. | — | 1988 | 202 | 13,000,000 | 75,271,179 | 1,555,253 | 13,000,000 | 76,826,432 | 89,826,432 | (7,789,697 | ) | 82,036,735 | (L) | |||||||||||||||||||||||||||||||
300 East 39th (fka East 39th) | New York, NY | Y | 2001 | 254 | 48,900,000 | 96,174,639 | 868,920 | 48,900,000 | 97,043,559 | 145,943,559 | (11,236,211 | ) | 134,707,348 | 59,449,107 | |||||||||||||||||||||||||||||||
3003 Van Ness (fka Van Ness) | Washington, D.C. | — | 1970 | 625 | 56,300,000 | 141,191,580 | 2,514,645 | 56,300,000 | 143,706,225 | 200,006,225 | (16,968,210 | ) | 183,038,015 | (K) | |||||||||||||||||||||||||||||||
303 East 83rd (fka Camargue) | New York, NY | Y | 1976 | 261 | 79,400,000 | 79,122,624 | 738,175 | 79,400,000 | 79,860,799 | 159,260,799 | (10,706,970 | ) | 148,553,829 | (L) | |||||||||||||||||||||||||||||||
425 Broadway | Santa Monica, CA | Y | 2001 | 101 | 12,600,000 | 34,394,772 | 680,943 | 12,600,000 | 35,075,715 | 47,675,715 | (3,569,288 | ) | 44,106,427 | (L) | |||||||||||||||||||||||||||||||
4701 Willard | Chevy Chase, MD | Y | 1966 | 513 | 76,921,130 | 153,947,682 | 20,688,968 | 76,921,130 | 174,636,650 | 251,557,780 | (24,386,428 | ) | 227,171,352 | 98,427,692 | |||||||||||||||||||||||||||||||
55 West Fifth I & II (fka Townhouse Plaza and Gardens) | San Mateo, CA | — | 1964/1972 | 241 | 21,041,710 | 71,931,323 | 8,114,511 | 21,041,710 | 80,045,834 | 101,087,544 | (9,767,221 | ) | 91,320,323 | 29,128,487 | |||||||||||||||||||||||||||||||
77 Park Avenue (fka Hoboken) | Hoboken, NJ | Y | 2000 | 301 | 27,900,000 | 168,992,440 | 1,559,417 | 27,900,000 | 170,551,857 | 198,451,857 | (16,271,604 | ) | 182,180,253 | (K) | |||||||||||||||||||||||||||||||
800 Sixth Ave (fka Chelsea) | New York, NY | Y | 2003 | 266 | 59,900,000 | 155,861,605 | 218,240 | 59,900,000 | 156,079,845 | 215,979,845 | (16,645,847 | ) | 199,333,998 | 76,680,282 | |||||||||||||||||||||||||||||||
929 House | Cambridge, MA | Y | 1975 | 127 | 3,252,993 | 21,745,595 | 5,861,409 | 3,252,993 | 27,607,004 | 30,859,997 | (13,677,315 | ) | 17,182,682 | 1,784,337 | |||||||||||||||||||||||||||||||
Academy Village | North Hollywood, CA | — | 1989 | 248 | 25,000,000 | 23,593,194 | 7,244,947 | 25,000,000 | 30,838,141 | 55,838,141 | (14,131,888 | ) | 41,706,253 | 20,000,000 | |||||||||||||||||||||||||||||||
Acappella | Pasadena, CA | — | 2002 | 143 | 5,839,548 | 29,360,452 | 902,132 | 5,839,548 | 30,262,584 | 36,102,132 | (6,456,855 | ) | 29,645,277 | 19,842,607 | |||||||||||||||||||||||||||||||
Acton Courtyard | Berkeley, CA | Y | 2003 | 71 | 5,550,000 | 15,785,509 | 174,547 | 5,550,000 | 15,960,056 | 21,510,056 | (5,066,680 | ) | 16,443,376 | 9,920,000 | |||||||||||||||||||||||||||||||
Alborada | Fremont, CA | — | 1999 | 442 | 24,310,000 | 59,214,129 | 3,040,631 | 24,310,000 | 62,254,760 | 86,564,760 | (31,791,543 | ) | 54,773,217 | (I) | |||||||||||||||||||||||||||||||
Alcyone | Seattle, WA | Y | 2004 | 161 | 11,379,497 | 49,360,503 | (9 | ) | 11,379,497 | 49,360,494 | 60,739,991 | — | 60,739,991 | 28,910,000 | |||||||||||||||||||||||||||||||
Arches, The | Sunnyvale, CA | — | 1974 | 410 | 26,650,000 | 62,850,000 | 851,025 | 26,650,000 | 63,701,025 | 90,351,025 | (12,837,616 | ) | 77,513,409 | (J) | |||||||||||||||||||||||||||||||
Artech Building | Berkeley, CA | Y | 2002 | 21 | 1,642,000 | 9,152,518 | 260,646 | 1,642,000 | 9,413,164 | 11,055,164 | (2,729,697 | ) | 8,325,467 | 3,200,000 | |||||||||||||||||||||||||||||||
Artisan Square | Northridge, CA | — | 2002 | 140 | 7,000,000 | 20,537,359 | 1,064,325 | 7,000,000 | 21,601,684 | 28,601,684 | (9,217,575 | ) | 19,384,109 | 22,779,715 | |||||||||||||||||||||||||||||||
Avanti | Anaheim, CA | — | 1987 | 162 | 12,960,000 | 18,497,683 | 1,314,548 | 12,960,000 | 19,812,231 | 32,772,231 | (7,174,217 | ) | 25,598,014 | 18,169,458 | |||||||||||||||||||||||||||||||
Avenir | Boston, MA | Y | 2009 | 241 | — | 114,321,619 | 551,758 | — | 114,873,377 | 114,873,377 | (12,259,457 | ) | 102,613,920 | 94,465,696 | |||||||||||||||||||||||||||||||
Bachenheimer Building | Berkeley, CA | Y | 2004 | 44 | 3,439,000 | 13,866,379 | 124,166 | 3,439,000 | 13,990,545 | 17,429,545 | (4,228,536 | ) | 13,201,009 | 8,585,000 | |||||||||||||||||||||||||||||||
Bella Vista I, II, III Combined | Woodland Hills, CA | — | 2003-2007 | 579 | 31,682,754 | 121,095,786 | 2,885,108 | 31,682,754 | 123,980,894 | 155,663,648 | (40,957,341 | ) | 114,706,307 | 58,055,099 | |||||||||||||||||||||||||||||||
Berkeleyan | Berkeley, CA | Y | 1998 | 56 | 4,377,000 | 16,022,110 | 321,597 | 4,377,000 | 16,343,707 | 20,720,707 | (5,080,620 | ) | 15,640,087 | 8,290,000 | |||||||||||||||||||||||||||||||
Calvert Woodley | Washington, D.C. | — | 1962 | 136 | 12,600,000 | 43,527,379 | 733,195 | 12,600,000 | 44,260,574 | 56,860,574 | (5,010,638 | ) | 51,849,936 | (L) | |||||||||||||||||||||||||||||||
Canterbury | Germantown, MD | — | 1986 | 544 | 2,781,300 | 32,942,531 | 15,098,222 | 2,781,300 | 48,040,753 | 50,822,053 | (33,408,506 | ) | 17,413,547 | 31,680,000 | |||||||||||||||||||||||||||||||
Carmel Terrace | San Diego, CA | — | 1988-1989 | 384 | 2,288,300 | 20,596,281 | 10,568,110 | 2,288,300 | 31,164,391 | 33,452,691 | (22,658,333 | ) | 10,794,358 | (J) | |||||||||||||||||||||||||||||||
Chelsea Square | Redmond, WA | — | 1991 | 113 | 3,397,100 | 9,289,074 | 1,788,938 | 3,397,100 | 11,078,012 | 14,475,112 | (6,337,147 | ) | 8,137,965 | 9,270,000 | |||||||||||||||||||||||||||||||
Citrus Suites | Santa Monica, CA | — | 1978 | 70 | 9,000,000 | 16,950,326 | 123,388 | 9,000,000 | 17,073,714 | 26,073,714 | (1,867,465 | ) | 24,206,249 | (L) | |||||||||||||||||||||||||||||||
CityView at Longwood | Boston, MA | Y | 1970 | 295 | 14,704,898 | 79,195,102 | 9,272,973 | 14,704,898 | 88,468,075 | 103,172,973 | (17,874,351 | ) | 85,298,622 | 23,780,076 | |||||||||||||||||||||||||||||||
Clarendon, The | Arlington, VA | Y | 2005 | 292 | 30,400,340 | 103,824,660 | 1,980,446 | 30,400,340 | 105,805,106 | 136,205,446 | (18,582,643 | ) | 117,622,803 | 40,376,421 | |||||||||||||||||||||||||||||||
Cleveland House | Washington, D.C. | — | 1953 | 214 | 18,300,000 | 66,392,414 | 1,085,128 | 18,300,000 | 67,477,542 | 85,777,542 | (7,336,935 | ) | 78,440,607 | (L) | |||||||||||||||||||||||||||||||
Columbia Crossing | Arlington, VA | — | 1991 | 247 | 23,500,000 | 53,045,073 | 1,524,626 | 23,500,000 | 54,569,699 | 78,069,699 | (6,390,653 | ) | 71,679,046 | (L) | |||||||||||||||||||||||||||||||
Connecticut Heights | Washington, D.C. | — | 1974 | 518 | 27,600,000 | 114,002,295 | 523,868 | 27,600,000 | 114,526,163 | 142,126,163 | (12,120,961 | ) | 130,005,202 | (K) | |||||||||||||||||||||||||||||||
Deerwood (SD) | San Diego, CA | — | 1990 | 316 | 2,082,095 | 18,739,815 | 14,095,827 | 2,082,095 | 32,835,642 | 34,917,737 | (23,757,806 | ) | 11,159,931 | (J) | |||||||||||||||||||||||||||||||
Del Mar Ridge | San Diego, CA | — | 1998 | 181 | 7,801,824 | 36,948,176 | 3,108,004 | 7,801,824 | 40,056,180 | 47,858,004 | (10,328,077 | ) | 37,529,927 | 23,789,381 | |||||||||||||||||||||||||||||||
Estancia at Santa Clara (fka Santa Clara) | Santa Clara, CA | — | 2000 | 450 | — | 123,759,804 | 526,676 | — | 124,286,480 | 124,286,480 | (13,537,262 | ) | 110,749,218 | (L) | |||||||||||||||||||||||||||||||
Fairchase | Fairfax, VA | — | 2007 | 392 | 23,500,000 | 87,722,321 | 269,692 | 23,500,000 | 87,992,013 | 111,492,013 | (9,395,216 | ) | 102,096,797 | (L) | |||||||||||||||||||||||||||||||
Fairfield | Stamford, CT | Y | 1996 | 263 | 6,510,200 | 39,690,120 | 6,459,297 | 6,510,200 | 46,149,417 | 52,659,617 | (27,466,826 | ) | 25,192,791 | 34,595,000 | |||||||||||||||||||||||||||||||
Fine Arts Building | Berkeley, CA | Y | 2004 | 100 | 7,817,000 | 26,462,772 | 302,689 | 7,817,000 | 26,765,461 | 34,582,461 | (8,237,485 | ) | 26,344,976 | 16,215,000 | |||||||||||||||||||||||||||||||
Flats at DuPont Circle | Washington, D.C. | — | 1967 | 306 | 35,200,000 | 108,768,198 | 504,057 | 35,200,000 | 109,272,255 | 144,472,255 | (11,204,638 | ) | 133,267,617 | (L) | |||||||||||||||||||||||||||||||
Gaia Building | Berkeley, CA | Y | 2000 | 91 | 7,113,000 | 25,623,826 | 225,339 | 7,113,000 | 25,849,165 | 32,962,165 | (7,962,885 | ) | 24,999,280 | 14,630,000 | |||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/14 | ||||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Retail/Commercial Space (G) | 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 12/31/14 (B) | Encumbrances | ||||||||||||||||||||||||||||||||
Gaithersburg Station | Gaithersburg, MD | Y | 2013 | 389 | 17,500,000 | 74,556,144 | 231,854 | 17,500,000 | 74,787,998 | 92,287,998 | (6,934,203 | ) | 85,353,795 | 98,884,291 | |||||||||||||||||||||||||||||||
Gateway at Malden Center | Malden, MA | Y | 1988 | 203 | 9,209,780 | 25,722,666 | 12,495,969 | 9,209,780 | 38,218,635 | 47,428,415 | (17,530,227 | ) | 29,898,188 | 14,970,000 | |||||||||||||||||||||||||||||||
Glo | Los Angeles, CA | Y | 2008 | 201 | 16,047,023 | 48,650,963 | 394,064 | 16,047,023 | 49,045,027 | 65,092,050 | (8,010,461 | ) | 57,081,589 | 31,938,525 | |||||||||||||||||||||||||||||||
Hathaway | Long Beach, CA | — | 1987 | 385 | 2,512,500 | 22,611,912 | 7,849,296 | 2,512,500 | 30,461,208 | 32,973,708 | (20,670,436 | ) | 12,303,272 | 46,517,800 | |||||||||||||||||||||||||||||||
Heights on Capitol Hill | Seattle, WA | Y | 2006 | 104 | 5,425,000 | 21,138,028 | 265,813 | 5,425,000 | 21,403,841 | 26,828,841 | (6,924,808 | ) | 19,904,033 | 28,180,585 | |||||||||||||||||||||||||||||||
Heronfield | Kirkland, WA | — | 1990 | 202 | 9,245,000 | 27,017,749 | 2,262,931 | 9,245,000 | 29,280,680 | 38,525,680 | (9,728,197 | ) | 28,797,483 | (J) | |||||||||||||||||||||||||||||||
Ivory Wood | Bothell, WA | — | 2000 | 144 | 2,732,800 | 13,888,282 | 751,887 | 2,732,800 | 14,640,169 | 17,372,969 | (5,844,211 | ) | 11,528,758 | 8,020,000 | |||||||||||||||||||||||||||||||
Kelvin Court (fka Alta Pacific) | Irvine, CA | — | 2008 | 132 | 10,752,145 | 34,649,929 | 248,840 | 10,752,145 | 34,898,769 | 45,650,914 | (8,359,653 | ) | 37,291,261 | 26,495,000 | |||||||||||||||||||||||||||||||
La Terrazza at Colma Station | Colma, CA | Y | 2005 | 153 | — | 41,251,044 | 642,535 | — | 41,893,579 | 41,893,579 | (12,830,190 | ) | 29,063,389 | 25,175,000 | |||||||||||||||||||||||||||||||
Laguna Clara | Santa Clara, CA | — | 1972 | 264 | 13,642,420 | 29,707,475 | 4,256,707 | 13,642,420 | 33,964,182 | 47,606,602 | (14,568,252 | ) | 33,038,350 | (J) | |||||||||||||||||||||||||||||||
Liberty Park | Braintree, MA | — | 2000 | 202 | 5,977,504 | 26,749,111 | 3,730,323 | 5,977,504 | 30,479,434 | 36,456,938 | (13,021,186 | ) | 23,435,752 | 24,980,280 | |||||||||||||||||||||||||||||||
Liberty Tower | Arlington, VA | Y | 2008 | 235 | 16,382,822 | 83,817,078 | 1,124,478 | 16,382,822 | 84,941,556 | 101,324,378 | (17,478,810 | ) | 83,845,568 | 46,865,218 | |||||||||||||||||||||||||||||||
Lindley Apartments | Encino, CA | — | 2004 | 129 | 5,805,000 | 25,705,000 | 681,636 | 5,805,000 | 26,386,636 | 32,191,636 | (5,246,707 | ) | 26,944,929 | 20,382,643 | |||||||||||||||||||||||||||||||
Longview Place | Waltham, MA | — | 2004 | 348 | 20,880,000 | 90,255,509 | 3,770,380 | 20,880,000 | 94,025,889 | 114,905,889 | (31,602,144 | ) | 83,303,745 | 60,073,423 | |||||||||||||||||||||||||||||||
Market Street Village | San Diego, CA | — | 2006 | 229 | 13,740,000 | 40,757,301 | 1,480,272 | 13,740,000 | 42,237,573 | 55,977,573 | (13,620,631 | ) | 42,356,942 | (J) | |||||||||||||||||||||||||||||||
Marks | Englewood, CO | Y | 1987 | 616 | 4,928,500 | 44,622,314 | 11,548,101 | 4,928,500 | 56,170,415 | 61,098,915 | (34,206,804 | ) | 26,892,111 | 19,195,000 | |||||||||||||||||||||||||||||||
Metro on First | Seattle, WA | Y | 2002 | 102 | 8,540,000 | 12,209,981 | 452,229 | 8,540,000 | 12,662,210 | 21,202,210 | (4,480,929 | ) | 16,721,281 | 22,843,410 | |||||||||||||||||||||||||||||||
Midtown 24 | Plantation, FL | Y | 2010 | 247 | 10,129,900 | 58,770,100 | 1,401,853 | 10,129,900 | 60,171,953 | 70,301,853 | (10,913,036 | ) | 59,388,817 | (J) | |||||||||||||||||||||||||||||||
Mill Creek | Milpitas, CA | — | 1991 | 516 | 12,858,693 | 57,168,503 | 5,442,026 | 12,858,693 | 62,610,529 | 75,469,222 | (25,958,217 | ) | 49,511,005 | 69,312,259 | |||||||||||||||||||||||||||||||
Moda | Seattle, WA | Y | 2009 | 251 | 12,649,228 | 36,842,012 | 751,889 | 12,649,228 | 37,593,901 | 50,243,129 | (7,947,470 | ) | 42,295,659 | (M) | |||||||||||||||||||||||||||||||
Monte Viejo | Phoenix, AZ | — | 2004 | 480 | 12,700,000 | 45,926,784 | 1,356,649 | 12,700,000 | 47,283,433 | 59,983,433 | (18,448,547 | ) | 41,534,886 | 38,998,007 | |||||||||||||||||||||||||||||||
Montierra (CA) | San Diego, CA | — | 1990 | 272 | 8,160,000 | 29,360,938 | 7,349,217 | 8,160,000 | 36,710,155 | 44,870,155 | (20,207,547 | ) | 24,662,608 | (J) | |||||||||||||||||||||||||||||||
Mosaic at Metro | Hyattsville, MD | — | 2009 | 260 | — | 59,580,898 | 396,392 | — | 59,977,290 | 59,977,290 | (13,426,350 | ) | 46,550,940 | 43,349,098 | |||||||||||||||||||||||||||||||
New River Cove | Davie, FL | — | 1999 | 316 | 15,800,000 | 46,142,895 | 2,112,295 | 15,800,000 | 48,255,190 | 64,055,190 | (17,348,296 | ) | 46,706,894 | (J) | |||||||||||||||||||||||||||||||
North Pier at Harborside | Jersey City, NJ | — | 2003 | 297 | 4,000,159 | 94,290,590 | 2,508,073 | 4,000,159 | 96,798,663 | 100,798,822 | (35,934,228 | ) | 64,864,594 | (I) | |||||||||||||||||||||||||||||||
Northpark | Burlingame, CA | — | 1972 | 510 | 38,607,000 | 77,477,449 | 11,535,799 | 38,607,000 | 89,013,248 | 127,620,248 | (21,086,248 | ) | 106,534,000 | 62,833,873 | |||||||||||||||||||||||||||||||
Oak Mill II | Germantown, MD | — | 1985 | 192 | 854,133 | 10,233,947 | 6,614,557 | 854,133 | 16,848,504 | 17,702,637 | (11,657,281 | ) | 6,045,356 | 9,600,000 | |||||||||||||||||||||||||||||||
Oaks | Santa Clarita, CA | — | 2000 | 520 | 23,400,000 | 61,020,438 | 4,140,268 | 23,400,000 | 65,160,706 | 88,560,706 | (27,139,584 | ) | 61,421,122 | 37,159,525 | |||||||||||||||||||||||||||||||
Olympus Towers | Seattle, WA | Y | 2000 | 328 | 14,752,034 | 73,335,425 | 5,446,206 | 14,752,034 | 78,781,631 | 93,533,665 | (30,519,078 | ) | 63,014,587 | 49,875,780 | |||||||||||||||||||||||||||||||
Park Place at San Mateo (fka San Mateo) | San Mateo, CA | Y | 2001 | 575 | 71,900,000 | 211,907,141 | 2,736,590 | 71,900,000 | 214,643,731 | 286,543,731 | (22,552,999 | ) | 263,990,732 | (L) | |||||||||||||||||||||||||||||||
Providence | Bothell, WA | — | 2000 | 200 | 3,573,621 | 19,055,505 | 908,245 | 3,573,621 | 19,963,750 | 23,537,371 | (8,060,429 | ) | 15,476,942 | (I) | |||||||||||||||||||||||||||||||
Reserve at Clarendon Centre, The | Arlington, VA | Y | 2003 | 252 | 10,500,000 | 52,812,935 | 3,852,271 | 10,500,000 | 56,665,206 | 67,165,206 | (22,423,199 | ) | 44,742,007 | (J) | |||||||||||||||||||||||||||||||
Reserve at Eisenhower, The | Alexandria, VA | — | 2002 | 226 | 6,500,000 | 34,585,060 | 1,407,205 | 6,500,000 | 35,992,265 | 42,492,265 | (15,227,463 | ) | 27,264,802 | (J) | |||||||||||||||||||||||||||||||
Reserve at Empire Lakes | Rancho Cucamonga, CA | — | 2005 | 467 | 16,345,000 | 73,080,670 | 2,097,816 | 16,345,000 | 75,178,486 | 91,523,486 | (25,847,398 | ) | 65,676,088 | (I) | |||||||||||||||||||||||||||||||
Reserve at Fairfax Corner | Fairfax, VA | — | 2001 | 652 | 15,804,057 | 63,129,050 | 6,733,306 | 15,804,057 | 69,862,356 | 85,666,413 | (29,870,640 | ) | 55,795,773 | 84,778,876 | |||||||||||||||||||||||||||||||
Reserve at Potomac Yard | Alexandria, VA | — | 2002 | 588 | 11,918,917 | 68,862,641 | 6,341,718 | 11,918,917 | 75,204,359 | 87,123,276 | (28,902,316 | ) | 58,220,960 | 66,470,000 | |||||||||||||||||||||||||||||||
Reserve at Town Center (WA) | Mill Creek, WA | — | 2001 | 389 | 10,369,400 | 41,172,081 | 2,404,316 | 10,369,400 | 43,576,397 | 53,945,797 | (17,140,399 | ) | 36,805,398 | 29,160,000 | |||||||||||||||||||||||||||||||
Rianna II | Seattle, WA | Y | 2002 | 78 | 2,161,840 | 14,433,614 | 219,336 | 2,161,840 | 14,652,950 | 16,814,790 | (3,719,806 | ) | 13,094,984 | 9,664,461 | |||||||||||||||||||||||||||||||
Rockingham Glen | West Roxbury, MA | — | 1974 | 143 | 1,124,217 | 7,515,160 | 2,127,798 | 1,124,217 | 9,642,958 | 10,767,175 | (5,189,711 | ) | 5,577,464 | 732,326 | |||||||||||||||||||||||||||||||
Siena Terrace | Lake Forest, CA | — | 1988 | 356 | 8,900,000 | 24,083,024 | 6,513,124 | 8,900,000 | 30,596,148 | 39,496,148 | (16,196,382 | ) | 23,299,766 | 38,440,808 | |||||||||||||||||||||||||||||||
Skyview | Rancho Santa Margarita, CA | — | 1999 | 260 | 3,380,000 | 21,952,863 | 2,762,747 | 3,380,000 | 24,715,610 | 28,095,610 | (13,314,866 | ) | 14,780,744 | 30,889,928 | |||||||||||||||||||||||||||||||
SoMa Square Apartments (fka South Market) | San Francisco, CA | Y | 1986 | 410 | 79,900,000 | 177,316,977 | 2,711,818 | 79,900,000 | 180,028,795 | 259,928,795 | (19,032,108 | ) | 240,896,687 | (L) | |||||||||||||||||||||||||||||||
Stonegate (CO) | Broomfield, CO | — | 2003 | 350 | 8,750,000 | 32,950,375 | 3,208,246 | 8,750,000 | 36,158,621 | 44,908,621 | (13,931,379 | ) | 30,977,242 | (I) | |||||||||||||||||||||||||||||||
Stoney Ridge | Dale City, VA | — | 1985 | 264 | 8,000,000 | 24,147,091 | 5,813,599 | 8,000,000 | 29,960,690 | 37,960,690 | (13,117,254 | ) | 24,843,436 | 13,414,254 | |||||||||||||||||||||||||||||||
Summerset Village | Chatsworth, CA | — | 1985 | 280 | 2,629,804 | 23,670,889 | 6,735,640 | 2,629,804 | 30,406,529 | 33,036,333 | (18,638,374 | ) | 14,397,959 | 38,039,912 | |||||||||||||||||||||||||||||||
Talleyrand | Tarrytown, NY | — | 1997-1998 | 300 | 12,000,000 | 49,838,160 | 4,373,570 | 12,000,000 | 54,211,730 | 66,211,730 | (25,824,997 | ) | 40,386,733 | 35,000,000 | |||||||||||||||||||||||||||||||
Teresina | Chula Vista, CA | — | 2000 | 440 | 28,600,000 | 61,916,670 | 2,524,216 | 28,600,000 | 64,440,886 | 93,040,886 | (23,028,983 | ) | 70,011,903 | 41,153,983 | |||||||||||||||||||||||||||||||
Toscana | Irvine, CA | — | 1991/1993 | 563 | 39,410,000 | 50,806,072 | 8,065,576 | 39,410,000 | 58,871,648 | 98,281,648 | (30,358,453 | ) | 67,923,195 | 71,243,194 | |||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Description | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) | Gross Amount Carried at Close of Period 12/31/14 | ||||||||||||||||||||||||||||||||||||||||||
Apartment Name | Location | Retail/Commercial Space (G) | 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 12/31/14 (B) | Encumbrances | ||||||||||||||||||||||||||||||||
Touriel Building | Berkeley, CA | Y | 2004 | 35 | 2,736,000 | 7,810,027 | 173,049 | 2,736,000 | 7,983,076 | 10,719,076 | (2,537,090 | ) | 8,181,986 | 5,050,000 | |||||||||||||||||||||||||||||||
Town Square at Mark Center I (fka Millbrook I) | Alexandria, VA | — | 1996 | 406 | 24,360,000 | 86,178,714 | 3,101,186 | 24,360,000 | 89,279,900 | 113,639,900 | (31,779,511 | ) | 81,860,389 | 77,353,222 | |||||||||||||||||||||||||||||||
Uptown Square | Denver, CO | Y | 1999/2001 | 696 | 17,492,000 | 100,696,541 | 4,323,125 | 17,492,000 | 105,019,666 | 122,511,666 | (38,387,874 | ) | 84,123,792 | 99,190,116 | |||||||||||||||||||||||||||||||
Versailles | Woodland Hills, CA | — | 1991 | 253 | 12,650,000 | 33,656,292 | 5,439,447 | 12,650,000 | 39,095,739 | 51,745,739 | (16,887,476 | ) | 34,858,263 | 30,372,953 | |||||||||||||||||||||||||||||||
Versailles (K-Town) | Los Angeles, CA | — | 2008 | 225 | 10,590,975 | 44,409,025 | 1,089,480 | 10,590,975 | 45,498,505 | 56,089,480 | (10,851,277 | ) | 45,238,203 | 29,826,475 | |||||||||||||||||||||||||||||||
Victor on Venice | Los Angeles, CA | Y | 2006 | 115 | 10,350,000 | 35,433,437 | 493,945 | 10,350,000 | 35,927,382 | 46,277,382 | (11,164,686 | ) | 35,112,696 | (J) | |||||||||||||||||||||||||||||||
Vintage | Ontario, CA | — | 2005-2007 | 300 | 7,059,230 | 47,677,762 | 418,205 | 7,059,230 | 48,095,967 | 55,155,197 | (15,673,129 | ) | 39,482,068 | 33,000,000 | |||||||||||||||||||||||||||||||
Vintage at 425 Broadway (fka Promenade) | Santa Monica, CA | Y | 1934/2001 | 58 | 9,000,000 | 13,961,523 | 354,858 | 9,000,000 | 14,316,381 | 23,316,381 | (1,915,005 | ) | 21,401,376 | (L) | |||||||||||||||||||||||||||||||
Vista on Courthouse | Arlington, VA | — | 2008 | 220 | 15,550,260 | 69,449,740 | 1,100,172 | 15,550,260 | 70,549,912 | 86,100,172 | (16,370,415 | ) | 69,729,757 | 31,380,000 | |||||||||||||||||||||||||||||||
Water Park Towers | Arlington, VA | — | 1989 | 362 | 34,400,000 | 108,485,859 | 3,570,221 | 34,400,000 | 112,056,080 | 146,456,080 | (12,141,171 | ) | 134,314,909 | (K) | |||||||||||||||||||||||||||||||
West 54th | New York, NY | Y | 2001 | 222 | 60,900,000 | 48,193,837 | 320,475 | 60,900,000 | 48,514,312 | 109,414,312 | (7,362,247 | ) | 102,052,065 | 46,859,227 | |||||||||||||||||||||||||||||||
Westgate (fka Westgate I) | Pasadena, CA | — | 2010 | 480 | 22,898,848 | 133,553,692 | 348,871 | 22,898,848 | 133,902,563 | 156,801,411 | (18,556,819 | ) | 138,244,592 | 96,935,000 | |||||||||||||||||||||||||||||||
Woodleaf | Campbell, CA | — | 1984 | 178 | 8,550,600 | 16,988,183 | 4,312,027 | 8,550,600 | 21,300,210 | 29,850,810 | (11,452,912 | ) | 18,397,898 | 17,858,854 | |||||||||||||||||||||||||||||||
Portfolio/Entity Encumbrances (1) | 2,099,338,962 | ||||||||||||||||||||||||||||||||||||||||||||
EQR Wholly Owned Encumbered | 29,923 | 1,889,558,099 | 5,894,004,795 | 330,213,229 | 1,889,558,099 | 6,224,218,024 | 8,113,776,123 | (1,587,799,207 | ) | 6,525,976,916 | 4,726,035,749 | ||||||||||||||||||||||||||||||||||
EQR Partially Owned Unencumbered: | |||||||||||||||||||||||||||||||||||||||||||||
2300 Elliott | Seattle, WA | — | 1992 | 92 | 796,800 | 7,173,725 | 6,244,167 | 796,800 | 13,417,892 | 14,214,692 | (9,635,532 | ) | 4,579,160 | — | |||||||||||||||||||||||||||||||
400 Park Avenue South (Toll) | New York, NY | — | (F) | — | 58,090,357 | 55,679,496 | — | 58,090,357 | 55,679,496 | 113,769,853 | — | 113,769,853 | — | ||||||||||||||||||||||||||||||||
Canyon Ridge | San Diego, CA | — | 1989 | 162 | 4,869,448 | 11,955,064 | 2,794,600 | 4,869,448 | 14,749,664 | 19,619,112 | (8,662,269 | ) | 10,956,843 | — | |||||||||||||||||||||||||||||||
Country Oaks | Agoura Hills, CA | — | 1985 | 256 | 6,105,000 | 29,561,865 | 4,053,877 | 6,105,000 | 33,615,742 | 39,720,742 | (15,662,969 | ) | 24,057,773 | — | |||||||||||||||||||||||||||||||
Fox Ridge | Englewood, CO | — | 1984 | 300 | 2,490,000 | 17,522,114 | 4,601,407 | 2,490,000 | 22,123,521 | 24,613,521 | (11,718,055 | ) | 12,895,466 | — | |||||||||||||||||||||||||||||||
Monterra in Mill Creek | Mill Creek, WA | — | 2003 | 139 | 2,800,000 | 13,255,123 | 670,037 | 2,800,000 | 13,925,160 | 16,725,160 | (5,104,802 | ) | 11,620,358 | — | |||||||||||||||||||||||||||||||
Prism at Park Avenue South (fka 400 Park Avenue South (EQR)) | New York, NY | Y | (F) | — | 76,292,169 | 150,666,648 | 11,603 | 76,292,169 | 150,678,251 | 226,970,420 | — | 226,970,420 | — | ||||||||||||||||||||||||||||||||
Strayhorse at Arrowhead Ranch | Glendale, AZ | — | 1998 | 136 | 4,400,000 | 12,968,002 | 443,437 | 4,400,000 | 13,411,439 | 17,811,439 | (4,853,154 | ) | 12,958,285 | — | |||||||||||||||||||||||||||||||
Via Ventura (CA) (fka Ventura) | Ventura, CA | — | 2002 | 192 | 8,600,000 | 44,308,202 | 406,230 | 8,600,000 | 44,714,432 | 53,314,432 | (5,214,735 | ) | 48,099,697 | — | |||||||||||||||||||||||||||||||
Wood Creek II (fka Willow Brook (CA)) | Pleasant Hill, CA | — | 1985 | 228 | 5,055,000 | 38,388,672 | 4,889,178 | 5,055,000 | 43,277,850 | 48,332,850 | (16,682,842 | ) | 31,650,008 | — | |||||||||||||||||||||||||||||||
EQR Partially Owned Unencumbered | 1,505 | 169,498,774 | 381,478,911 | 24,114,536 | 169,498,774 | 405,593,447 | 575,092,221 | (77,534,358 | ) | 497,557,863 | — | ||||||||||||||||||||||||||||||||||
EQR Partially Owned Encumbered: | |||||||||||||||||||||||||||||||||||||||||||||
Bellevue Meadows | Bellevue, WA | — | 1983 | 180 | 4,507,100 | 12,574,814 | 4,524,770 | 4,507,100 | 17,099,584 | 21,606,684 | (10,473,761 | ) | 11,132,923 | 16,538,000 | |||||||||||||||||||||||||||||||
Canyon Creek (CA) | San Ramon, CA | — | 1984 | 268 | 5,425,000 | 18,812,121 | 6,427,590 | 5,425,000 | 25,239,711 | 30,664,711 | (12,764,001 | ) | 17,900,710 | 28,200,000 | |||||||||||||||||||||||||||||||
Harrison Square (fka Elliot Bay) | Seattle, WA | Y | 1992 | 166 | 7,600,000 | 35,844,345 | 3,159,773 | 7,600,000 | 39,004,118 | 46,604,118 | (3,837,725 | ) | 42,766,393 | (K) | |||||||||||||||||||||||||||||||
Isle at Arrowhead Ranch | Glendale, AZ | — | 1996 | 256 | 1,650,237 | 19,593,123 | 2,216,333 | 1,650,237 | 21,809,456 | 23,459,693 | (13,005,000 | ) | 10,454,693 | 17,700,000 | |||||||||||||||||||||||||||||||
Lantern Cove | Foster City, CA | — | 1985 | 232 | 6,945,000 | 23,064,976 | 5,705,946 | 6,945,000 | 28,770,922 | 35,715,922 | (13,736,832 | ) | 21,979,090 | 36,455,000 | |||||||||||||||||||||||||||||||
Rosecliff | Quincy, MA | — | 1990 | 156 | 5,460,000 | 15,721,570 | 2,561,718 | 5,460,000 | 18,283,288 | 23,743,288 | (9,854,030 | ) | 13,889,258 | 17,400,000 | |||||||||||||||||||||||||||||||
Schooner Bay I | Foster City, CA | — | 1985 | 168 | 5,345,000 | 20,390,618 | 4,756,784 | 5,345,000 | 25,147,402 | 30,492,402 | (12,000,181 | ) | 18,492,221 | 28,870,000 | |||||||||||||||||||||||||||||||
Schooner Bay II | Foster City, CA | — | 1985 | 144 | 4,550,000 | 18,064,764 | 4,275,408 | 4,550,000 | 22,340,172 | 26,890,172 | (10,806,797 | ) | 16,083,375 | 26,175,000 | |||||||||||||||||||||||||||||||
Surrey Downs | Bellevue, WA | — | 1986 | 122 | 3,057,100 | 7,848,618 | 2,407,669 | 3,057,100 | 10,256,287 | 13,313,387 | (6,009,471 | ) | 7,303,916 | 9,829,000 | |||||||||||||||||||||||||||||||
Virgil Square | Los Angeles, CA | — | 1979 | 142 | 5,500,000 | 15,216,613 | 2,175,257 | 5,500,000 | 17,391,870 | 22,891,870 | (6,559,144 | ) | 16,332,726 | 9,900,000 | |||||||||||||||||||||||||||||||
Wisconsin Place | Chevy Chase, MD | — | 2009 | 432 | — | 172,089,355 | 550,832 | — | 172,640,187 | 172,640,187 | (17,900,087 | ) | 154,740,100 | 144,571,681 | |||||||||||||||||||||||||||||||
Portfolio/Entity Encumbrances (1) | 24,840,581 | ||||||||||||||||||||||||||||||||||||||||||||
EQR Partially Owned Encumbered | 2,266 | 50,039,437 | 359,220,917 | 38,762,080 | 50,039,437 | 397,982,997 | 448,022,434 | (116,947,029 | ) | 331,075,405 | 360,479,262 | ||||||||||||||||||||||||||||||||||
Total Consolidated Investment in Real Estate | 102,911 | $ | 6,907,534,212 | $ | 19,372,503,705 | $ | 1,395,345,007 | $ | 6,907,534,212 | $ | 20,767,848,712 | $ | 27,675,382,924 | $ | (5,432,805,335 | ) | $ | 22,242,577,589 | $ | 5,086,515,011 | |||||||||||||||||||||||||
-1 | See attached Encumbrances Reconciliation | ||||||||||||||||||||||||||||||||||||||||||||
EQUITY RESIDENTIAL | |||||||||||||||||||||||||||||||||||||||||||||
ERP OPERATING LIMITED PARTNERSHIP | |||||||||||||||||||||||||||||||||||||||||||||
Schedule III - Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
NOTES: | |||||||||||||||||||||||||||||||||||||||||||||
(A) | The balance of furniture & fixtures included in the total investment in real estate amount was $1,365,276,528 as of December 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||
(B) | The cost, net of accumulated depreciation, for Federal Income Tax purposes as of December 31, 2014 was approximately $16.7 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 of these properties includes and/or will include retail/commercial space. | ||||||||||||||||||||||||||||||||||||||||||||
(H) | Total properties and units exclude three unconsolidated properties containing 1,281 apartment units and two Military Housing properties containing 5,033 units. | ||||||||||||||||||||||||||||||||||||||||||||
(I) | through (L) See Encumbrances Reconciliation schedule. | ||||||||||||||||||||||||||||||||||||||||||||
(M) | Boot Property for Bond Partnership mortgage pool. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
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 three unconsolidated operating properties and our military housing properties. | |||||||||||||
Real Estate Assets And Depreciation Of Investment In Real Estate Policy Text Block | Real Estate Assets and Depreciation of Investment in Real Estate | ||||||||||||
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, 2014, 2013 and 2012, the Company capitalized $22.4 million, $16.5 million and $14.3 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, 2014 and 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 $37.7 million and $33.4 million at December 31, 2014 and 2013, 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, restricted units 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: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected volatility (1) | 27.00% | 26.90% | 27.40% | ||||||||||
Expected life (2) | 5 years | 5 years | 5 years | ||||||||||
Expected dividend yield (3) | 3.78% | 4.12% | 4.35% | ||||||||||
Risk-free interest rate (4) | 1.50% | 0.84% | 0.71% | ||||||||||
Option valuation per share | $9.12 | $7.90 | $8.54 | ||||||||||
-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, 2014, the Company has recorded a deferred tax asset of approximately $46.7 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, 2014, 2013 and 2012 (amounts in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income and other tax expense (benefit) (1) | $ | 1,394 | $ | 1,169 | $ | 514 | |||||||
Discontinued operations, net (2) | 8 | 449 | 34 | ||||||||||
Provision for income, franchise and excise taxes (3) | $ | 1,402 | $ | 1,618 | $ | 548 | |||||||
-1 | Primarily includes state and local income, excise and franchise taxes. | ||||||||||||
-2 | Primarily represents state and local income, excise and franchise taxes on operating properties sold prior to January 1, 2014 and included in discontinued operations. The amounts included in discontinued operations for the year ending December 31, 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the year ended December 31, 2014 met the new criteria for reporting discontinued operations. | ||||||||||||
-3 | All provisions for income tax amounts are current and none are deferred. | ||||||||||||
The Company’s TRSs have approximately $35.1 million of net operating loss ("NOL") carryforwards available as of January 1, 2015 that will expire between 2029 and 2032. | |||||||||||||
During the years ended December 31, 2014, 2013 and 2012, the Company’s tax treatment of dividends and distributions were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Tax treatment of dividends and distributions: | |||||||||||||
Ordinary dividends | $ | 1.475 | $ | 0.662 | $ | 1.375 | |||||||
Qualified dividends | 0.088 | 0.05 | — | ||||||||||
Long-term capital gain | 0.28 | 0.87 | 0.253 | ||||||||||
Unrecaptured section 1250 gain | 0.157 | 0.268 | 0.152 | ||||||||||
Dividends and distributions declared per | |||||||||||||
Common Share/Unit outstanding | $ | 2 | $ | 1.85 | $ | 1.78 | |||||||
The cost of land and depreciable property, net of accumulated depreciation, for federal income tax purposes as of December 31, 2014 and 2013 was approximately $16.7 billion and $15.2 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 3,771 apartment units and various completed and uncompleted development properties having a noncontrolling interest book value of $124.9 million at December 31, 2014. 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 $10.9 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, 2014, the Company estimates the value of Noncontrolling Interest distributions for these six properties would have been approximately $62.9 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, 2014 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, 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. | |||||||||||||
In April 2014, the Financial Accounting Standards Board (the "FASB") issued new guidance for reporting discontinued operations. Only disposals representing a strategic shift in operations that has a major effect on a company’s operations and financial results will be presented as discontinued operations. Companies will be required to expand their disclosures about discontinued operations to provide more information on the assets, liabilities, income and expenses of the discontinued operations. Companies will also be required to disclose the pre-tax income attributable to a disposal of a significant part of a company that does not qualify for discontinued operations reporting. Application of this guidance is prospective from the date of adoption and early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued. The new standard is effective January 1, 2015, but the Company early adopted it as allowed effective January 1, 2014. Adoption of this standard resulted in and will likely continue to result in substantially fewer of the Company's dispositions meeting the discontinued operations qualifications. See Note 11 for further discussion. | |||||||||||||
In May 2014, the FASB issued a comprehensive new revenue recognition standard entitled Revenue from Contracts with Customers that will supersede nearly all existing revenue recognition guidance. The new standard specifically excludes lease contracts. The new standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. Companies will likely need to use more judgment and make more estimates than under current revenue recognition guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration, if any, to include in the transaction price and allocating the transaction price to each separate performance obligation. The new standard will be effective for the Company beginning on January 1, 2017 and early adoption is not permitted. The new standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company has not yet selected a transition method and is currently evaluating the impact of adopting the new standard on its consolidated results of operations and financial position. | |||||||||||||
In August 2014, the FASB issued a new standard that will explicitly require management to assess an entity's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. In connection with each annual and interim period, management will assess whether there is substantial doubt about an entity's ability to continue as a going concern within one year after the issuance date. Disclosures will be required if conditions give rise to substantial doubt, however to determine the specific disclosures, management will need to assess whether its plans will alleviate substantial doubt. The new standard is effective for the annual period ending after December 15, 2016. The Company does not expect that this will have a material effect on its consolidated results of operations or financial position. | |||||||||||||
In February 2015, the FASB issued new consolidation guidance which makes changes to both the variable interest model and the voting model. Among other changes, the new standard specifically eliminates the presumption in the current voting model that a general partner controls a limited partnership or similar entity unless that presumption can be overcome. Generally, only a single limited partner that is able to exercise substantive kick-out rights will consolidate. The new standard will be effective for the Company beginning on January 1, 2016 and early adoption is permitted, including adoption in an interim period. The new standard must be applied using a modified retrospective approach by recording a cumulative-effect adjustment to equity/capital as of the beginning of the period of adoption or retrospectively to each period presented. The Company has not yet selected a transition method and is currently evaluating the impact of adopting the new standard on its consolidated results of operations and financial position. |
Business_Tables
Business (Tables) | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Business [Abstract] | |||||||
Property/Unit schedule | The ownership breakdown includes (table does not include various uncompleted development properties): | ||||||
Properties | Apartment Units | ||||||
Wholly Owned Properties | 364 | 98,287 | |||||
Master-Leased Properties – Consolidated | 3 | 853 | |||||
Partially Owned Properties – Consolidated | 19 | 3,771 | |||||
Partially Owned Properties – Unconsolidated | 3 | 1,281 | |||||
Military Housing | 2 | 5,033 | |||||
391 | 109,225 | ||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
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: | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected volatility (1) | 27.00% | 26.90% | 27.40% | ||||||||||
Expected life (2) | 5 years | 5 years | 5 years | ||||||||||
Expected dividend yield (3) | 3.78% | 4.12% | 4.35% | ||||||||||
Risk-free interest rate (4) | 1.50% | 0.84% | 0.71% | ||||||||||
Option valuation per share | $9.12 | $7.90 | $8.54 | ||||||||||
-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, 2014, 2013 and 2012 (amounts in thousands): | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income and other tax expense (benefit) (1) | $ | 1,394 | $ | 1,169 | $ | 514 | |||||||
Discontinued operations, net (2) | 8 | 449 | 34 | ||||||||||
Provision for income, franchise and excise taxes (3) | $ | 1,402 | $ | 1,618 | $ | 548 | |||||||
-1 | Primarily includes state and local income, excise and franchise taxes. | ||||||||||||
-2 | Primarily represents state and local income, excise and franchise taxes on operating properties sold prior to January 1, 2014 and included in discontinued operations. The amounts included in discontinued operations for the year ending December 31, 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the year ended December 31, 2014 met the new criteria for reporting 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, 2014, 2013 and 2012, the Company’s tax treatment of dividends and distributions were as follows: | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Tax treatment of dividends and distributions: | |||||||||||||
Ordinary dividends | $ | 1.475 | $ | 0.662 | $ | 1.375 | |||||||
Qualified dividends | 0.088 | 0.05 | — | ||||||||||
Long-term capital gain | 0.28 | 0.87 | 0.253 | ||||||||||
Unrecaptured section 1250 gain | 0.157 | 0.268 | 0.152 | ||||||||||
Dividends and distributions declared per | |||||||||||||
Common Share/Unit outstanding | $ | 2 | $ | 1.85 | $ | 1.78 | |||||||
Equity_Capital_and_Other_Inter1
Equity, Capital and Other Interests (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
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 restricted units (formerly known as Long-Term Incentive Plan ("LTIP") Units)) for the years ended December 31, 2014, 2013 and 2012: | ||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Common Shares | |||||||||||||||
Common Shares outstanding at January 1, | 360,479,260 | 325,054,654 | 297,508,185 | ||||||||||||
Common Shares Issued: | |||||||||||||||
Conversion of OP Units | 94,671 | 67,939 | 675,817 | ||||||||||||
Issuance of Common Shares | — | 34,468,085 | 25,023,919 | ||||||||||||
Exercise of share options | 2,086,380 | 586,017 | 1,608,427 | ||||||||||||
Employee Share Purchase Plan (ESPP) | 68,807 | 73,468 | 110,054 | ||||||||||||
Restricted share grants, net | 169,722 | 229,097 | 128,252 | ||||||||||||
Common Shares Other: | |||||||||||||||
Conversion of restricted shares to restricted units | (12,146 | ) | — | — | |||||||||||
Repurchased and retired | (31,240 | ) | — | — | |||||||||||
Common Shares outstanding at December 31, | 362,855,454 | 360,479,260 | 325,054,654 | ||||||||||||
Units | |||||||||||||||
Units outstanding at January 1, | 14,180,376 | 13,968,758 | 13,492,543 | ||||||||||||
Restricted units, net | 200,840 | 279,557 | 70,235 | ||||||||||||
OP Units issued through acquisitions | — | — | 1,081,797 | ||||||||||||
Conversion of restricted shares to restricted units | 12,146 | — | — | ||||||||||||
Conversion of OP Units to Common Shares | (94,671 | ) | (67,939 | ) | (675,817 | ) | |||||||||
Units outstanding at December 31, | 14,298,691 | 14,180,376 | 13,968,758 | ||||||||||||
Total Common Shares and Units outstanding at December 31, | 377,154,145 | 374,659,636 | 339,023,412 | ||||||||||||
Units Ownership Interest in Operating Partnership | 3.8 | % | 3.8 | % | 4.1 | % | |||||||||
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, 2014, 2013 and 2012, respectively (amounts in thousands): | ||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Balance at January 1, | $ | 363,144 | $ | 398,372 | $ | 416,404 | |||||||||
Change in market value | 139,818 | (79,667 | ) | (38,734 | ) | ||||||||||
Change in carrying value | (2,229 | ) | 44,439 | 20,702 | |||||||||||
Balance at December 31, | $ | 500,733 | $ | 363,144 | $ | 398,372 | |||||||||
Schedule Of Preferred Stock [Table Text Block] | The following table presents the Company’s issued and outstanding Preferred Shares as of December 31, 2014 and 2013: | ||||||||||||||
Amounts in thousands | |||||||||||||||
Redemption | Annual | December 31, 2014 | 31-Dec-13 | ||||||||||||
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, 2014 and December 31, 2013 | |||||||||||||||
$ | 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, 2014, 2013 and 2012: | ||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
General and Limited Partner Units | |||||||||||||||
General and Limited Partner Units outstanding at January 1, | 374,659,636 | 339,023,412 | 311,000,728 | ||||||||||||
Issued to General Partner: | |||||||||||||||
Issuance of OP Units | — | 34,468,085 | 25,023,919 | ||||||||||||
Exercise of EQR share options | 2,086,380 | 586,017 | 1,608,427 | ||||||||||||
EQR's Employee Share Purchase Plan (ESPP) | 68,807 | 73,468 | 110,054 | ||||||||||||
EQR's restricted share grants, net | 169,722 | 229,097 | 128,252 | ||||||||||||
Issued to Limited Partners: | |||||||||||||||
Restricted units, net | 200,840 | 279,557 | 70,235 | ||||||||||||
OP Units issued through acquisitions | — | — | 1,081,797 | ||||||||||||
OP Units Other: | |||||||||||||||
Repurchased and retired | (31,240 | ) | — | — | |||||||||||
General and Limited Partner Units outstanding at December 31, | 377,154,145 | 374,659,636 | 339,023,412 | ||||||||||||
Limited Partner Units | |||||||||||||||
Limited Partner Units outstanding at January 1, | 14,180,376 | 13,968,758 | 13,492,543 | ||||||||||||
Limited Partner restricted units, net | 200,840 | 279,557 | 70,235 | ||||||||||||
Limited Partner OP Units issued through acquisitions | — | — | 1,081,797 | ||||||||||||
Conversion of EQR restricted shares to restricted units | 12,146 | — | — | ||||||||||||
Conversion of Limited Partner OP Units to EQR Common Shares | (94,671 | ) | (67,939 | ) | (675,817 | ) | |||||||||
Limited Partner Units outstanding at December 31, | 14,298,691 | 14,180,376 | 13,968,758 | ||||||||||||
Limited Partner Units Ownership Interest in Operating Partnership | 3.8 | % | 3.8 | % | 4.1 | % | |||||||||
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, 2014, 2013 and 2012, respectively (amounts in thousands): | ||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Balance at January 1, | $ | 363,144 | $ | 398,372 | $ | 416,404 | |||||||||
Change in market value | 139,818 | (79,667 | ) | (38,734 | ) | ||||||||||
Change in carrying value | (2,229 | ) | 44,439 | 20,702 | |||||||||||
Balance at December 31, | $ | 500,733 | $ | 363,144 | $ | 398,372 | |||||||||
Schedule Of Preferred Stock [Table Text Block] | The following table presents the Operating Partnership's issued and outstanding “Preference Units” as of December 31, 2014 and 2013: | ||||||||||||||
Amounts in thousands | |||||||||||||||
Redemption | Annual | December 31, 2014 | 31-Dec-13 | ||||||||||||
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, 2014 and December 31, 2013 | |||||||||||||||
$ | 50,000 | $ | 50,000 | ||||||||||||
Real_Estate_Tables
Real Estate (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
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, 2014 and 2013 (amounts in thousands): | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Land | $ | 6,295,404 | $ | 6,192,512 | |||||||||||||||||
Depreciable property: | |||||||||||||||||||||
Buildings and improvements | 17,974,337 | 17,509,609 | |||||||||||||||||||
Furniture, fixtures and equipment | 1,365,276 | 1,214,220 | |||||||||||||||||||
In-Place lease intangibles | 511,891 | 502,218 | |||||||||||||||||||
Projects under development: | |||||||||||||||||||||
Land | 466,764 | 353,574 | |||||||||||||||||||
Construction-in-progress | 877,155 | 635,293 | |||||||||||||||||||
Land held for development: | |||||||||||||||||||||
Land | 145,366 | 341,389 | |||||||||||||||||||
Construction-in-progress | 39,190 | 52,133 | |||||||||||||||||||
Investment in real estate | 27,675,383 | 26,800,948 | |||||||||||||||||||
Accumulated depreciation | (5,432,805 | ) | (4,807,709 | ) | |||||||||||||||||
Investment in real estate, net | $ | 22,242,578 | $ | 21,993,239 | |||||||||||||||||
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, 2014 and 2013 (amounts in thousands): | ||||||||||||||||||||
Description | Balance Sheet Location | 2014 | 2013 | ||||||||||||||||||
Assets | |||||||||||||||||||||
Ground lease intangibles – below market | Other Assets | $ | 178,251 | $ | 178,251 | ||||||||||||||||
Retail lease intangibles – above market | Other Assets | 1,260 | 1,260 | ||||||||||||||||||
Lease intangible assets | 179,511 | 179,511 | |||||||||||||||||||
Accumulated amortization | (8,913 | ) | (4,364 | ) | |||||||||||||||||
Lease intangible assets, net | $ | 170,598 | $ | 175,147 | |||||||||||||||||
Liabilities | |||||||||||||||||||||
Ground lease intangibles – above market | Other Liabilities | $ | 2,400 | $ | 2,400 | ||||||||||||||||
Retail lease intangibles – below market | Other Liabilities | 5,270 | 5,500 | ||||||||||||||||||
Lease intangible liabilities | 7,670 | 7,900 | |||||||||||||||||||
Accumulated amortization | (2,258 | ) | (1,161 | ) | |||||||||||||||||
Lease intangible liabilities, net | $ | 5,412 | $ | 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): | ||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | |||||||||||||||||
Ground lease intangibles | $ | 4,321 | $ | 4,321 | $ | 4,321 | $ | 4,321 | $ | 4,321 | |||||||||||
Retail lease intangibles | (939 | ) | (896 | ) | (540 | ) | (71 | ) | (71 | ) | |||||||||||
Total | $ | 3,382 | $ | 3,425 | $ | 3,781 | $ | 4,250 | $ | 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 | 5,765,538 | ||||||||||||||||||||
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 | 230,608 | ||||||||||||||||||||
Other assets | 195,260 | ||||||||||||||||||||
Other liabilities | (108,997 | ) | |||||||||||||||||||
Net assets acquired | $ | 8,968,389 | |||||||||||||||||||
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 (amounts in thousands, except per share amounts): | ||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
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 November/December 2012 and to an affiliate of Lehman Brothers Holdings Inc. in February 2013 as partial consideration for the Archstone Acquisition. | ||||||||||||||||||||
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, 2014, 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 | 6 | 1,353 | $ | 469,850 | |||||||||||||||||
Land Parcels (two) | — | — | 28,790 | ||||||||||||||||||
Total | 6 | 1,353 | $ | 498,640 | |||||||||||||||||
Disposed Properties Table | During the year ended December 31, 2014, the Company disposed of the following to unaffiliated parties (sales price in thousands): | ||||||||||||||||||||
Properties | Apartment Units | Sales Price | |||||||||||||||||||
Consolidated: | |||||||||||||||||||||
Rental Properties | 10 | 3,092 | $ | 466,968 | |||||||||||||||||
Land Parcels (three) | — | — | 62,602 | ||||||||||||||||||
Unconsolidated: | |||||||||||||||||||||
Rental Properties (1) | 1 | 388 | 62,500 | ||||||||||||||||||
Total | 11 | 3,480 | $ | 592,070 | |||||||||||||||||
(1) The Company owned an 85% interest in this unconsolidated rental property. Sale price listed is the gross sale price. | |||||||||||||||||||||
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%. | |||||||||||||||||||||
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 (amounts in thousands, except per Unit amounts): | ||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
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 November/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. |
Commitments_to_AcquireDispose_1
Commitments to Acquire/Dispose of Real Estate Commitments To Acquire/Dispose of Real Estate (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||
Real Estate To Be Acquired Table Text Block [Table Text Block] | The Company has entered into separate agreements to acquire the following (purchase price in thousands): | |||||||||
Properties | Apartment Units | Purchase Price | ||||||||
Rental Properties | 1 | 202 | $ | 131,250 | ||||||
Land Parcels (four) | — | — | 31,100 | |||||||
Total | 1 | 202 | $ | 162,350 | ||||||
Real Estate To Be Disposed Table Text Block | In addition to the properties that were subsequently disposed of as discussed in Note 18, the Company has entered into separate agreements to dispose of the following (sales price in thousands): | |||||||||
Properties | Apartment Units | Sales Price | ||||||||
Rental Properties (1) | 1 | 150 | $ | 169,800 | ||||||
Total | 1 | 150 | $ | 169,800 | ||||||
(1) Includes a 193,230 square foot office building under contract to be sold for approximately $123.3 million which is adjacent to our Longfellow Place property located in Boston and acquired in 1999. |
Investments_in_Partially_Owned1
Investments in Partially Owned Entities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
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, 2014 (amounts in thousands except for project and apartment unit amounts): | ||||||||||||||||||||||||
Consolidated | Unconsolidated | ||||||||||||||||||||||||
Development Projects | Development Projects | ||||||||||||||||||||||||
Held for | Operating | Total | Completed, Not Stabilized (3) | Operating | Total | ||||||||||||||||||||
and/or Under | |||||||||||||||||||||||||
Development | |||||||||||||||||||||||||
Total projects (1) | — | 19 | 19 | 1 | 2 | 3 | |||||||||||||||||||
Total apartment units (1) | — | 3,771 | 3,771 | 444 | 837 | 1,281 | |||||||||||||||||||
Balance sheet information at 12/31/14 (at 100%): | |||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||
Investment in real estate | $ | 340,740 | $ | 682,374 | $ | 1,023,114 | $ | 155,376 | $ | 134,669 | $ | 290,045 | |||||||||||||
Accumulated depreciation | — | (194,481 | ) | (194,481 | ) | (6,921 | ) | (11,391 | ) | (18,312 | ) | ||||||||||||||
Investment in real estate, net | 340,740 | 487,893 | 828,633 | 148,455 | 123,278 | 271,733 | |||||||||||||||||||
Cash and cash equivalents | — | 19,338 | 19,338 | 2,684 | 3,172 | 5,856 | |||||||||||||||||||
Investments in unconsolidated entities | — | 51,979 | 51,979 | — | — | — | |||||||||||||||||||
Deposits – restricted | 22,706 | 300 | 23,006 | — | 214 | 214 | |||||||||||||||||||
Deferred financing costs, net | — | 2,141 | 2,141 | — | 8 | 8 | |||||||||||||||||||
Other assets | 6,658 | 26,609 | 33,267 | 529 | 691 | 1,220 | |||||||||||||||||||
Total assets | $ | 370,104 | $ | 588,260 | $ | 958,364 | $ | 151,668 | $ | 127,363 | $ | 279,031 | |||||||||||||
LIABILITIES AND EQUITY/CAPITAL | |||||||||||||||||||||||||
Mortgage notes payable (2) | $ | — | $ | 360,479 | $ | 360,479 | $ | 96,793 | $ | 78,628 | $ | 175,421 | |||||||||||||
Accounts payable & accrued expenses | 13,307 | 1,611 | 14,918 | 769 | 259 | 1,028 | |||||||||||||||||||
Accrued interest payable | — | 1,283 | 1,283 | 464 | 227 | 691 | |||||||||||||||||||
Other liabilities | 69 | 885 | 954 | 294 | 671 | 965 | |||||||||||||||||||
Security deposits | 25 | 1,954 | 1,979 | 173 | 300 | 473 | |||||||||||||||||||
Total liabilities | 13,401 | 366,212 | 379,613 | 98,493 | 80,085 | 178,578 | |||||||||||||||||||
Noncontrolling Interests – Partially Owned | 117,350 | 7,559 | 124,909 | 47,223 | 43,655 | 90,878 | |||||||||||||||||||
Properties/Partners' equity | |||||||||||||||||||||||||
Company equity/General and Limited | 239,353 | 214,489 | 453,842 | 5,952 | 3,623 | 9,575 | |||||||||||||||||||
Partners' Capital | |||||||||||||||||||||||||
Total equity/capital | 356,703 | 222,048 | 578,751 | 53,175 | 47,278 | 100,453 | |||||||||||||||||||
Total liabilities and equity/capital | $ | 370,104 | $ | 588,260 | $ | 958,364 | $ | 151,668 | $ | 127,363 | $ | 279,031 | |||||||||||||
Partially Owned Property Income Statement Schedule [Table Text Block] | |||||||||||||||||||||||||
Consolidated | Unconsolidated | ||||||||||||||||||||||||
Development Projects | Development Projects | ||||||||||||||||||||||||
Held for | Operating | ||||||||||||||||||||||||
and/or Under | Completed, Not Stabilized (3) | ||||||||||||||||||||||||
Development | Operating | Total | Total | ||||||||||||||||||||||
Operating information for the year ended 12/31/14 (at 100%): | |||||||||||||||||||||||||
Operating revenue | $ | 22 | $ | 88,157 | $ | 88,179 | $ | 10,182 | $ | 15,160 | $ | 25,342 | |||||||||||||
Operating expenses | 91 | 25,674 | 25,765 | 3,781 | 6,818 | 10,599 | |||||||||||||||||||
Net operating (loss) income | (69 | ) | 62,483 | 62,414 | 6,401 | 8,342 | 14,743 | ||||||||||||||||||
Depreciation | — | 21,679 | 21,679 | 6,512 | 5,800 | 12,312 | |||||||||||||||||||
General and administrative/other | 1 | 116 | 117 | 1 | 209 | 210 | |||||||||||||||||||
Operating (loss) income | (70 | ) | 40,688 | 40,618 | (112 | ) | 2,333 | 2,221 | |||||||||||||||||
Interest and other income | — | 11 | 11 | — | — | — | |||||||||||||||||||
Other expenses | — | (54 | ) | (54 | ) | — | — | — | |||||||||||||||||
Interest: | |||||||||||||||||||||||||
Expense incurred, net | — | (15,626 | ) | (15,626 | ) | (5,296 | ) | (3,831 | ) | (9,127 | ) | ||||||||||||||
Amortization of deferred financing costs | — | (355 | ) | (355 | ) | — | (2 | ) | (2 | ) | |||||||||||||||
(Loss) income before income and other taxes and (loss) | (70 | ) | 24,664 | 24,594 | (5,408 | ) | (1,500 | ) | (6,908 | ) | |||||||||||||||
from investments in unconsolidated entities | |||||||||||||||||||||||||
Income and other tax (expense) benefit | — | (36 | ) | (36 | ) | (7 | ) | — | (7 | ) | |||||||||||||||
(Loss) from investments in unconsolidated entities | — | (1,593 | ) | (1,593 | ) | — | — | — | |||||||||||||||||
Net (loss) income | $ | (70 | ) | $ | 23,035 | $ | 22,965 | $ | (5,415 | ) | $ | (1,500 | ) | $ | (6,915 | ) | |||||||||
-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. | ||||||||||||||||||||||||
-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 $74.6 million at December 31, 2014. The ventures are owned 60% by the Company and 40% by AVB. |
Deposits_Restricted_Tables
Deposits - Restricted (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
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, 2014 and 2013 (amounts in thousands): | ||||||||
December 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Earnest money on pending acquisitions | $ | 580 | $ | 4,514 | |||||
Restricted deposits on real estate investments | 24,701 | 53,771 | |||||||
Resident security and utility deposits | 46,516 | 44,777 | |||||||
Other | 506 | 505 | |||||||
Totals | $ | 72,303 | $ | 103,567 | |||||
Escrow Deposits [Table Text Block] | The following table presents the Company’s escrow deposits as of December 31, 2014 and 2013 (amounts in thousands): | ||||||||
December 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Real estate taxes and insurance | $ | 2,235 | $ | 3,687 | |||||
Replacement reserves | 3,431 | 4,229 | |||||||
Mortgage principal reserves/sinking funds | 41,567 | 33,868 | |||||||
Other | 852 | 852 | |||||||
Totals | $ | 48,085 | $ | 42,636 | |||||
Debt_Debt_Tables
Debt Debt (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
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, 2014 and 2013, respectively: | ||||||||||
31-Dec-14 | Net Principal Balance | Interest Rate Ranges | Weighted Average Interest Rate | Maturity Date Ranges | |||||||
(Amounts in thousands) | |||||||||||
Fixed Rate Public Notes (1) | $ | 4,974,154 | 3.00% - 7.57% | 5.45% | 2015 - 2044 | ||||||
Floating Rate Public Notes (1) | 451,192 | -1 | 1.15% | 2019 | |||||||
Totals | $ | 5,425,346 | |||||||||
31-Dec-13 | Net Principal Balance | Interest Rate Ranges | Weighted Average Interest Rate | Maturity Date Ranges | |||||||
(Amounts in thousands) | |||||||||||
Fixed Rate Public/Private Notes | $ | 4,727,088 | 3.00% - 7.57% | 5.55% | 2014 - 2026 | ||||||
Floating Rate Public/Private Notes (2) | 750,000 | -2 | 1.58% | 2015 | |||||||
Totals | $ | 5,477,088 | |||||||||
-1 | Fair value interest rate swaps convert the $450.0 million 2.375% notes due July 1, 2019 to a floating interest rate of 90-Day LIBOR plus 0.61%. | ||||||||||
-2 | Includes the Company's senior unsecured $750.0 million term loan facility that was to mature on January 11, 2015 and was paid off in the second quarter of 2014. The interest rate on advances under the term loan facility was generally LIBOR plus a spread (1.20%), which was 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) | ||||||||||
2015 | $ | 408,420 | |||||||||
2016 | 1,192,798 | ||||||||||
2017 | 1,346,708 | ||||||||||
2018 | 514,510 | ||||||||||
2019 | 1,278,469 | ||||||||||
Thereafter | 6,135,842 | ||||||||||
Net Unamortized (Discount) | (31,886 | ) | |||||||||
Total | $ | 10,844,861 | |||||||||
-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, 2014 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||
Derivative Instrument Table | The following table summarizes the Company’s consolidated derivative instruments at December 31, 2014 (dollar amounts are in thousands): | ||||||||||||||||||
Fair Value | Forward | ||||||||||||||||||
Hedges (1) | Starting | ||||||||||||||||||
Swaps (2) | |||||||||||||||||||
Current Notional Balance | $ | 450,000 | $ | 400,000 | |||||||||||||||
Lowest Possible Notional | $ | 450,000 | $ | 400,000 | |||||||||||||||
Highest Possible Notional | $ | 450,000 | $ | 400,000 | |||||||||||||||
Lowest Interest Rate | 2.375 | % | 2.274 | % | |||||||||||||||
Highest Interest Rate | 2.375 | % | 3.191 | % | |||||||||||||||
Earliest Maturity Date | 2019 | 2025 | |||||||||||||||||
Latest Maturity Date | 2019 | 2025 | |||||||||||||||||
-1 | Fair Value Hedges – Converts outstanding fixed rate unsecured notes ($450.0 million 2.375% notes due July 1, 2019) to a floating interest rate of 90-Day LIBOR plus 0.61%. | ||||||||||||||||||
-2 | Forward Starting Swaps – Designed to partially fix interest rates in advance of a planned future debt issuance. These swaps have mandatory counterparty terminations in 2016, and are targeted to 2015 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, 2014 and 2013, 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 | 12/31/14 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets | |||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||
Fair Value Hedges | Other Assets | $ | 1,597 | $ | — | $ | 1,597 | $ | — | ||||||||||
Forward Starting Swaps | Other Assets | 332 | — | 332 | — | ||||||||||||||
Supplemental Executive Retirement Plan | Other Assets | 104,463 | 104,463 | — | — | ||||||||||||||
Total | $ | 106,392 | $ | 104,463 | $ | 1,929 | $ | — | |||||||||||
Liabilities | |||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||
Forward Starting Swaps | Other Liabilities | $ | 14,104 | $ | — | $ | 14,104 | $ | — | ||||||||||
Supplemental Executive Retirement Plan | Other Liabilities | 104,463 | 104,463 | — | — | ||||||||||||||
Total | $ | 118,567 | $ | 104,463 | $ | 14,104 | $ | — | |||||||||||
Redeemable Noncontrolling Interests – | |||||||||||||||||||
Operating Partnership/Redeemable | |||||||||||||||||||
Limited Partners | Mezzanine | $ | 500,733 | $ | — | $ | 500,733 | $ | — | ||||||||||
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 | $ | 18,710 | $ | — | $ | 18,710 | $ | — | ||||||||||
Supplemental Executive Retirement Plan | Other Assets | 83,845 | 83,845 | — | — | ||||||||||||||
Total | $ | 102,555 | $ | 83,845 | $ | 18,710 | $ | — | |||||||||||
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 | $ | — | ||||||||||
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, 2014, 2013 and 2012, respectively (amounts in thousands): | ||||||||||||||||||
December 31, 2014 | Location of Gain/(Loss) Recognized in Income on Derivative | Amount of Gain/(Loss) Recognized in Income on Derivative | Income Statement Location of Hedged Item Gain/(Loss) | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||
Type of Fair Value Hedge | Hedged Item | on Hedged Item | |||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||
Interest Rate Swaps | Interest expense | $ | 1,597 | Fixed rate debt | Interest expense | $ | (1,597 | ) | |||||||||||
Total | $ | 1,597 | $ | (1,597 | ) | ||||||||||||||
December 31, 2013 | Location of Gain/(Loss) Recognized in Income on Derivative | Amount of Gain/(Loss) Recognized in Income on Derivative | Income Statement Location of Hedged Item Gain/(Loss) | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||
Type of Fair Value Hedge | Hedged Item | 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 on Derivative | Amount of Gain/(Loss) Recognized in Income on Derivative | Income Statement Location of Hedged Item Gain/(Loss) | Amount of Gain/(Loss)Recognized in Income | |||||||||||||||
Type of Fair Value Hedge | Hedged Item | 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 | ||||||||||||||
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, 2014, 2013 and 2012, respectively (amounts in thousands): | ||||||||||||||||||
Effective Portion | Ineffective Portion | ||||||||||||||||||
December 31, 2014 | Amount of | Location of Gain/(Loss) | Amount of Gain/(Loss) | Location of | Amount of Gain/(Loss) | ||||||||||||||
Type of Cash Flow Hedge | Gain/(Loss) Recognized in OCI on Derivative | Reclassified from Accumulated OCI into Income | Reclassified from Accumulated OCI into Income | Gain/(Loss) Recognized in Income on Derivative | Reclassified from Accumulated OCI into Income | ||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||
Interest Rate Contracts: | |||||||||||||||||||
Forward Starting Swaps | $ | (33,215 | ) | Interest expense | $ | (16,868 | ) | Interest expense | $ | 91 | |||||||||
Total | $ | (33,215 | ) | $ | (16,868 | ) | $ | 91 | |||||||||||
Effective Portion | Ineffective Portion | ||||||||||||||||||
December 31, 2013 | Amount of | Location of Gain/(Loss) | Amount of Gain/(Loss) | Location of | Amount of Gain/(Loss) | ||||||||||||||
Type of Cash Flow Hedge | Gain/(Loss) Recognized in OCI on Derivative | Reclassified from Accumulated OCI into Income | Reclassified from Accumulated OCI into Income | Gain/(Loss) Recognized in Income on Derivative | Reclassified from Accumulated OCI 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) | ||||||||||||||
Type of Cash Flow Hedge | Gain/(Loss) Recognized in OCI on Derivative | Reclassified from Accumulated OCI into Income | Reclassified from Accumulated OCI into Income | Gain/(Loss) Recognized in Income on Derivative | Reclassified from Accumulated OCI 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 | ) | $ | — | |||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
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, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Numerator for net income per share – basic: | ||||||||||||
Income (loss) from continuing operations | $ | 657,101 | $ | (168,174 | ) | $ | 160,298 | |||||
Allocation to Noncontrolling Interests – Operating Partnership, net | (24,771 | ) | 6,834 | (6,417 | ) | |||||||
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties | (2,544 | ) | 538 | (844 | ) | |||||||
Preferred distributions | (4,145 | ) | (4,145 | ) | (10,355 | ) | ||||||
Premium on redemption of Preferred Shares | — | — | (5,152 | ) | ||||||||
Income (loss) from continuing operations available to Common Shares, net of | 625,641 | (164,947 | ) | 137,530 | ||||||||
Noncontrolling Interests | ||||||||||||
Discontinued operations, net of Noncontrolling Interests | 1,522 | 1,991,415 | 688,682 | |||||||||
Numerator for net income per share – basic | $ | 627,163 | $ | 1,826,468 | $ | 826,212 | ||||||
Numerator for net income per share – diluted (1): | ||||||||||||
Income from continuing operations | $ | 657,101 | $ | 160,298 | ||||||||
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties | (2,544 | ) | (844 | ) | ||||||||
Preferred distributions | (4,145 | ) | (10,355 | ) | ||||||||
Premium on redemption of Preferred Shares | — | (5,152 | ) | |||||||||
Income from continuing operations available to Common Shares | 650,412 | 143,947 | ||||||||||
Discontinued operations, net | 1,582 | 720,906 | ||||||||||
Numerator for net income per share – diluted (1) | $ | 651,994 | $ | 1,826,468 | $ | 864,853 | ||||||
Denominator for net income per share – basic and diluted (1): | ||||||||||||
Denominator for net income per share – basic | 361,181 | 354,305 | 302,701 | |||||||||
Effect of dilutive securities: | ||||||||||||
OP Units | 13,718 | 13,853 | ||||||||||
Long-term compensation shares/units | 2,836 | 3,212 | ||||||||||
Denominator for net income per share – diluted (1) | 377,735 | 354,305 | 319,766 | |||||||||
Net income per share – basic | $ | 1.74 | $ | 5.16 | $ | 2.73 | ||||||
Net income per share – diluted | $ | 1.73 | $ | 5.16 | $ | 2.7 | ||||||
Net income per share – basic: | ||||||||||||
Income (loss) from continuing operations available to Common Shares, net of | $ | 1.732 | $ | (0.466 | ) | $ | 0.454 | |||||
Noncontrolling Interests | ||||||||||||
Discontinued operations, net of Noncontrolling Interests | 0.004 | 5.621 | 2.275 | |||||||||
Net income per share – basic | $ | 1.736 | $ | 5.155 | $ | 2.729 | ||||||
Net income per share – diluted (1): | ||||||||||||
Income (loss) from continuing operations available to Common Shares | $ | 1.722 | $ | (0.466 | ) | $ | 0.45 | |||||
Discontinued operations, net | 0.004 | 5.621 | 2.255 | |||||||||
Net income per share – diluted | $ | 1.726 | $ | 5.155 | $ | 2.705 | ||||||
-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 year ended December 31, 2013 | |||||||||||
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, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Numerator for net income per Unit – basic and diluted (1): | ||||||||||||
Income (loss) from continuing operations | $ | 657,101 | $ | (168,174 | ) | $ | 160,298 | |||||
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties | (2,544 | ) | 538 | (844 | ) | |||||||
Allocation to Preference Units | (4,145 | ) | (4,145 | ) | (10,355 | ) | ||||||
Allocation to premium on redemption of Preference Units | — | — | (5,152 | ) | ||||||||
Income (loss) from continuing operations available to Units | 650,412 | (171,781 | ) | 143,947 | ||||||||
Discontinued operations, net | 1,582 | 2,073,527 | 720,906 | |||||||||
Numerator for net income per Unit – basic and diluted (1) | $ | 651,994 | $ | 1,901,746 | $ | 864,853 | ||||||
Denominator for net income per Unit – basic and diluted (1): | ||||||||||||
Denominator for net income per Unit – basic | 374,899 | 368,038 | 316,554 | |||||||||
Effect of dilutive securities: | ||||||||||||
Dilution for Units issuable upon assumed exercise/vesting of the Company's | 2,836 | 3,212 | ||||||||||
long-term compensation shares/units | ||||||||||||
Denominator for net income per Unit – diluted (1) | 377,735 | 368,038 | 319,766 | |||||||||
Net income per Unit – basic | $ | 1.74 | $ | 5.16 | $ | 2.73 | ||||||
Net income per Unit – diluted | $ | 1.73 | $ | 5.16 | $ | 2.7 | ||||||
Net income per Unit – basic: | ||||||||||||
Income (loss) from continuing operations available to Units | $ | 1.732 | $ | (0.466 | ) | $ | 0.454 | |||||
Discontinued operations, net | 0.004 | 5.621 | 2.275 | |||||||||
Net income per Unit – basic | $ | 1.736 | $ | 5.155 | $ | 2.729 | ||||||
Net income per Unit – diluted (1): | ||||||||||||
Income (loss) from continuing operations available to Units | $ | 1.722 | $ | (0.466 | ) | $ | 0.45 | |||||
Discontinued operations, net | 0.004 | 5.621 | 2.255 | |||||||||
Net income per Unit – diluted | $ | 1.726 | $ | 5.155 | $ | 2.705 | ||||||
-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 year ended December 31, 2013 |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
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 for properties sold in 2013 and prior years during each of the years ended December 31, 2014, 2013 and 2012 (amounts in thousands). | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
REVENUES | ||||||||||||
Rental income | $ | 1,309 | $ | 121,942 | $ | 445,832 | ||||||
Total revenues | 1,309 | 121,942 | 445,832 | |||||||||
EXPENSES (1) | ||||||||||||
Property and maintenance | (141 | ) | 36,792 | 103,371 | ||||||||
Real estate taxes and insurance | 267 | 11,903 | 41,208 | |||||||||
Property management | — | 1 | 211 | |||||||||
Depreciation | — | 34,380 | 124,323 | |||||||||
General and administrative | 89 | 85 | 92 | |||||||||
Total expenses | 215 | 83,161 | 269,205 | |||||||||
Discontinued operating income | 1,094 | 38,781 | 176,627 | |||||||||
Interest and other income | 317 | 217 | 156 | |||||||||
Other expenses | — | (3 | ) | (170 | ) | |||||||
Interest (2): | ||||||||||||
Expense incurred, net | — | (1,296 | ) | (3,811 | ) | |||||||
Amortization of deferred financing costs | — | (228 | ) | (140 | ) | |||||||
Income and other tax (expense) benefit | (8 | ) | (449 | ) | (34 | ) | ||||||
Discontinued operations | 1,403 | 37,022 | 172,628 | |||||||||
Net gain on sales of discontinued operations | 179 | 2,036,505 | 548,278 | |||||||||
Discontinued operations, net | $ | 1,582 | $ | 2,073,527 | $ | 720,906 | ||||||
-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, 2014 | |||||||||||||||||||||
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, restricted units, share options and Employee Share Purchase Plan (“ESPP”) for the three years ended December 31, 2014, 2013 and 2012 (amounts in thousands): | ||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||
Compensation | Compensation | Compensation | Dividends | ||||||||||||||||||
Expense | Capitalized | Equity | Incurred | ||||||||||||||||||
Restricted shares | $ | 9,244 | $ | 660 | $ | 9,904 | $ | 1,012 | |||||||||||||
Restricted units | 11,049 | 920 | 11,969 | 1,248 | |||||||||||||||||
Share options | 6,453 | 896 | 7,349 | — | |||||||||||||||||
ESPP discount | 797 | 62 | 859 | — | |||||||||||||||||
Total | $ | 27,543 | $ | 2,538 | $ | 30,081 | $ | 2,260 | |||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Compensation | Compensation | Compensation | Dividends | ||||||||||||||||||
Expense | Capitalized | Equity | Incurred | ||||||||||||||||||
Restricted shares | $ | 12,185 | $ | 1,079 | $ | 13,264 | $ | 967 | |||||||||||||
Restricted 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 | |||||||||||||
Restricted 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 | |||||||||||||
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, 2014, 2013 and 2012: | ||||||||||||||||||||
Common | Weighted | Restricted | Weighted | Restricted | Weighted | ||||||||||||||||
Shares Subject | Average | Shares | Average Fair | Units | Average Fair | ||||||||||||||||
to Options | Exercise Price | Value per | Value per | ||||||||||||||||||
per Option | Restricted Share | Restricted Unit | |||||||||||||||||||
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 | |||||||||||||||
Awards granted (1) | 667,877 | $56.72 | 176,457 | $56.56 | 201,507 | $53.82 | |||||||||||||||
Awards exercised/vested (2) (3) (4) | (2,086,380 | ) | $39.34 | (175,344 | ) | $53.44 | (60,294 | ) | $53.71 | ||||||||||||
Awards forfeited | (19,022 | ) | $56.32 | (6,735 | ) | $56.57 | (667 | ) | $52.08 | ||||||||||||
Awards expired | (2,387 | ) | $55.24 | — | — | — | — | ||||||||||||||
Conversion of restricted shares | — | — | (12,146 | ) | — | 12,146 | — | ||||||||||||||
to restricted units | |||||||||||||||||||||
Balance at December 31, 2014 | 7,030,620 | $46.16 | 482,466 | $56.89 | 623,948 | $53.38 | |||||||||||||||
-1 | The weighted average grant date fair value for Options granted during the years ended December 31, 2014, 2013 and 2012 was $9.21 per share, $7.97 per share and $8.55 per share, respectively. | ||||||||||||||||||||
-2 | The aggregate intrinsic value of options exercised during the years ended December 31, 2014, 2013 and 2012 was $50.8 million, $16.7 million and $46.7 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, 2014, 2013 and 2012 was $10.2 million, $13.9 million and $18.0 million, respectively. | ||||||||||||||||||||
-4 | The fair value of restricted units vested during the years ended December 31, 2014, 2013 and 2012 was $3.2 million, $5.1 million and $9.1 million, respectively | ||||||||||||||||||||
Information regarding options outstanding and exercisable | |||||||||||||||||||||
The following table summarizes information regarding options outstanding and exercisable at December 31, 2014: | |||||||||||||||||||||
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 | 988,826 | 4.09 | $23.07 | 988,826 | $23.07 | ||||||||||||||||
$31.17 to $37.39 | 1,091,358 | 3.61 | $32.61 | 1,091,358 | $32.61 | ||||||||||||||||
$37.40 to $43.62 | 702,568 | 2.36 | $40.12 | 702,568 | $40.12 | ||||||||||||||||
$43.63 to $49.86 | 24,628 | 5.83 | $48.63 | 24,628 | $48.63 | ||||||||||||||||
$49.87 to $56.09 | 2,343,836 | 6.21 | $53.93 | 1,387,110 | $53.85 | ||||||||||||||||
$56.10 to $62.32 | 1,879,404 | 7.87 | $58.72 | 817,294 | $59.84 | ||||||||||||||||
$18.70 to $62.32 | 7,030,620 | 5.57 | $46.16 | 5,011,784 | $42.18 | ||||||||||||||||
Vested and expected to vest | 6,590,486 | 5.34 | $45.50 | ||||||||||||||||||
as of December 31, 2014 | |||||||||||||||||||||
-1 | The aggregate intrinsic value of options outstanding that are vested and expected to vest as of December 31, 2014 is $180.5 million. | ||||||||||||||||||||
-2 | The aggregate intrinsic value and weighted average remaining contractual life in years of options exercisable as of December 31, 2014 is $148.7 million and 4.6 years, respectively |
Employee_Plans_Tables
Employee Plans (Tables) | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
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, | ||||||
2014 | 2013 | 2012 | ||||
(Amounts in thousands except share and per share amounts) | ||||||
Shares issued | 68,807 | 73,468 | 110,054 | |||
Issuance price ranges | $45.90 – $55.95 | $44.26 – $48.17 | $46.33 – $51.78 | |||
Issuance proceeds | $3,392 | $3,401 | $5,399 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
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, 2014: | ||||||||||||||||||||||||||||
(Payments)/Receipts Due by Year (in thousands) | |||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||||
Operating Leases: | |||||||||||||||||||||||||||||
Minimum Rent Payments (a) | $ | (15,268 | ) | $ | (15,385 | ) | $ | (15,318 | ) | $ | (15,298 | ) | $ | (15,224 | ) | $ | (860,071 | ) | $ | (936,564 | ) | ||||||||
Minimum Rent Receipts (b) | 65,087 | 58,860 | 53,448 | 43,987 | 37,545 | 192,455 | 451,382 | ||||||||||||||||||||||
Other Long-Term Liabilities: | |||||||||||||||||||||||||||||
Deferred Compensation (c) | (1,382 | ) | (1,714 | ) | (1,714 | ) | (1,714 | ) | (1,120 | ) | (5,149 | ) | (12,793 | ) | |||||||||||||||
(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) | Minimum basic rent receipts due for various retail/commercial space where the Company is the lessor. | ||||||||||||||||||||||||||||
(c) | 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, 2014 | |||||||||||||||||||||||||||||||||||||
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, 2014, 2013 and 2012, respectively, as well as total assets and capital expenditures at December 31, 2014 and 2013, respectively (amounts in thousands): | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||
Rental Income | Operating Expenses | NOI | Rental Income | Operating Expenses | NOI | Rental Income | Operating Expenses | NOI | |||||||||||||||||||||||||||||
Same store (1) | |||||||||||||||||||||||||||||||||||||
Boston | $ | 253,032 | $ | 80,680 | $ | 172,352 | $ | 244,370 | $ | 78,249 | $ | 166,121 | $ | 168,063 | $ | 54,888 | $ | 113,175 | |||||||||||||||||||
Denver | 111,190 | 30,812 | 80,378 | 103,124 | 30,567 | 72,557 | 93,571 | 28,204 | 65,367 | ||||||||||||||||||||||||||||
New York | 455,598 | 171,336 | 284,262 | 438,366 | 165,329 | 273,037 | 274,683 | 109,667 | 165,016 | ||||||||||||||||||||||||||||
San Francisco | 340,251 | 106,424 | 233,827 | 312,345 | 108,218 | 204,127 | 159,535 | 57,373 | 102,162 | ||||||||||||||||||||||||||||
Seattle | 156,714 | 51,293 | 105,421 | 146,109 | 49,169 | 96,940 | 122,267 | 41,041 | 81,226 | ||||||||||||||||||||||||||||
South Florida | 191,729 | 70,296 | 121,433 | 182,620 | 69,475 | 113,145 | 177,675 | 67,811 | 109,864 | ||||||||||||||||||||||||||||
Southern California | 420,565 | 138,605 | 281,960 | 401,516 | 137,667 | 263,849 | 320,749 | 103,925 | 216,824 | ||||||||||||||||||||||||||||
Washington DC | 446,122 | 143,800 | 302,322 | 448,520 | 140,708 | 307,812 | 247,880 | 75,580 | 172,300 | ||||||||||||||||||||||||||||
Non-core | 100,732 | 37,451 | 63,281 | 97,380 | 36,483 | 60,897 | 128,816 | 48,548 | 80,268 | ||||||||||||||||||||||||||||
Total same store | 2,475,933 | 830,697 | 1,645,236 | 2,374,350 | 815,865 | 1,558,485 | 1,693,239 | 587,037 | 1,106,202 | ||||||||||||||||||||||||||||
Non-same store/other (2) (3) | |||||||||||||||||||||||||||||||||||||
Boston | 3,635 | 848 | 2,787 | 2,728 | 651 | 2,077 | — | — | — | ||||||||||||||||||||||||||||
Denver | — | — | — | — | — | — | 1,325 | 429 | 896 | ||||||||||||||||||||||||||||
New York | — | — | — | — | — | — | 14,611 | 5,988 | 8,623 | ||||||||||||||||||||||||||||
San Francisco | — | — | — | — | — | — | 7,268 | 3,022 | 4,246 | ||||||||||||||||||||||||||||
Seattle | 13,507 | 4,421 | 9,086 | 4,387 | 1,336 | 3,051 | 4,747 | 1,510 | 3,237 | ||||||||||||||||||||||||||||
South Florida | 5,475 | 2,743 | 2,732 | 390 | 810 | (420 | ) | — | — | — | |||||||||||||||||||||||||||
Southern California | 43,118 | 17,755 | 25,363 | 15,016 | 6,846 | 8,170 | 3,040 | 1,179 | 1,861 | ||||||||||||||||||||||||||||
Washington DC | 24,193 | 7,936 | 16,257 | 13,562 | 4,086 | 9,476 | 13,124 | 3,984 | 9,140 | ||||||||||||||||||||||||||||
Other (3) | 39,450 | 13,735 | 25,715 | 59,994 | 34,903 | 25,091 | 575 | 17,695 | (17,120 | ) | |||||||||||||||||||||||||||
Total non-same store/ | 129,378 | 47,438 | 81,940 | 96,077 | 48,632 | 47,445 | 44,690 | 33,807 | 10,883 | ||||||||||||||||||||||||||||
other | |||||||||||||||||||||||||||||||||||||
Archstone pre- | — | — | — | (92,423 | ) | (36,729 | ) | (55,694 | ) | — | — | — | |||||||||||||||||||||||||
ownership (4) | |||||||||||||||||||||||||||||||||||||
Total | $ | 2,605,311 | $ | 878,135 | $ | 1,727,176 | $ | 2,378,004 | $ | 827,768 | $ | 1,550,236 | $ | 1,737,929 | $ | 620,844 | $ | 1,117,085 | |||||||||||||||||||
-1 | For the years ended December 31, 2014 and 2013, same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2013, less properties subsequently sold, which represented 97,911 apartment units. Also includes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. For the year ended December 31, 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. | ||||||||||||||||||||||||||||||||||||
-2 | For the years ended December 31, 2014 and 2013, non-same store primarily includes properties acquired after January 1, 2013, plus any properties in lease-up and not stabilized as of January 1, 2013, but excludes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. For the year December 31, 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. | ||||||||||||||||||||||||||||||||||||
-3 | Other includes development, other corporate operations and operations prior to sale for properties sold in 2014 that do not meet the new discontinued operations criteria. | ||||||||||||||||||||||||||||||||||||
-4 | Represents pro forma Archstone pre-ownership results for the period January 1, 2013 to February 27, 2013 that is included in 2013 same store results. | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Total Assets | Capital Expenditures | Total Assets | Capital Expenditures | ||||||||||||||||||||||||||||||||||
Same store (1) | |||||||||||||||||||||||||||||||||||||
Boston | $ | 1,923,540 | $ | 19,575 | $ | 1,984,745 | $ | 17,625 | |||||||||||||||||||||||||||||
Denver | 520,537 | 5,863 | 541,480 | 5,384 | |||||||||||||||||||||||||||||||||
New York | 4,647,269 | 22,118 | 4,771,001 | 12,006 | |||||||||||||||||||||||||||||||||
San Francisco | 2,718,174 | 26,995 | 2,793,390 | 21,756 | |||||||||||||||||||||||||||||||||
Seattle | 1,032,140 | 14,570 | 1,061,118 | 7,940 | |||||||||||||||||||||||||||||||||
South Florida | 1,135,552 | 14,335 | 1,170,931 | 14,351 | |||||||||||||||||||||||||||||||||
Southern California | 2,910,934 | 26,975 | 3,010,786 | 19,852 | |||||||||||||||||||||||||||||||||
Washington DC | 4,223,590 | 42,927 | 4,339,246 | 24,506 | |||||||||||||||||||||||||||||||||
Non-core | 408,486 | 5,675 | 427,108 | 3,528 | |||||||||||||||||||||||||||||||||
Total same store | 19,520,222 | 179,033 | 20,099,805 | 126,948 | |||||||||||||||||||||||||||||||||
Non-same store/other (2) (3) | |||||||||||||||||||||||||||||||||||||
Boston | 48,323 | 699 | 49,372 | 102 | |||||||||||||||||||||||||||||||||
Seattle | 318,488 | 1,115 | 182,745 | 55 | |||||||||||||||||||||||||||||||||
South Florida | 67,833 | 8 | 68,987 | 1 | |||||||||||||||||||||||||||||||||
Southern California | 747,438 | 1,780 | 411,302 | 648 | |||||||||||||||||||||||||||||||||
Washington DC | 301,902 | 2,147 | 301,623 | 439 | |||||||||||||||||||||||||||||||||
Other (3) | 1,946,408 | 1,175 | 1,720,711 | 7,623 | |||||||||||||||||||||||||||||||||
Total non-same store/other | 3,430,392 | 6,924 | 2,734,740 | 8,868 | |||||||||||||||||||||||||||||||||
Total | $ | 22,950,614 | $ | 185,957 | $ | 22,834,545 | $ | 135,816 | |||||||||||||||||||||||||||||
-1 | Same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2013, less properties subsequently sold, which represented 97,911 apartment units. Also includes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. | ||||||||||||||||||||||||||||||||||||
-2 | Non-same store primarily includes properties acquired after January 1, 2013, plus any properties in lease-up and not stabilized as of January 1, 2013, but excludes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. | ||||||||||||||||||||||||||||||||||||
-3 | Other includes development, other corporate operations and capital expenditures for properties sold. | ||||||||||||||||||||||||||||||||||||
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, 2014, 2013 and 2012, respectively (amounts in thousands): | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Rental income | $ | 2,605,311 | $ | 2,378,004 | $ | 1,737,929 | |||||||||||||||||||||||||||||||
Property and maintenance expense | (473,098 | ) | (449,427 | ) | (332,219 | ) | |||||||||||||||||||||||||||||||
Real estate taxes and insurance expense | (325,401 | ) | (293,999 | ) | (206,723 | ) | |||||||||||||||||||||||||||||||
Property management expense | (79,636 | ) | (84,342 | ) | (81,902 | ) | |||||||||||||||||||||||||||||||
Total operating expenses | (878,135 | ) | (827,768 | ) | (620,844 | ) | |||||||||||||||||||||||||||||||
Net operating income | $ | 1,727,176 | $ | 1,550,236 | $ | 1,117,085 | |||||||||||||||||||||||||||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2014 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues | $ | 633,442 | $ | 652,568 | $ | 664,078 | $ | 664,660 | |||||||||
Operating income | 199,259 | 228,310 | 243,274 | 250,532 | |||||||||||||
Income from continuing operations | 81,680 | 117,210 | 231,252 | 226,959 | |||||||||||||
Discontinued operations, net | 1,052 | 510 | (62 | ) | 82 | ||||||||||||
Net income * | 82,732 | 117,720 | 231,190 | 227,041 | |||||||||||||
Net income available to Common Shares | 78,099 | 111,654 | 220,707 | 216,703 | |||||||||||||
Earnings per share – basic: | |||||||||||||||||
Net income available to Common Shares | $ | 0.22 | $ | 0.31 | $ | 0.61 | $ | 0.6 | |||||||||
Weighted average Common Shares outstanding | 360,470 | 360,809 | 361,409 | 362,018 | |||||||||||||
Earnings per share – diluted: | |||||||||||||||||
Net income available to Common Shares | $ | 0.22 | $ | 0.31 | $ | 0.61 | $ | 0.59 | |||||||||
Weighted average Common Shares outstanding | 376,384 | 377,118 | 377,954 | 378,886 | |||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues | $ | 504,722 | $ | 617,217 | $ | 626,629 | $ | 639,134 | |||||||||
Operating income | 104,254 | 63,986 | 120,405 | 223,677 | |||||||||||||
(Loss) income from continuing operations | (165,339 | ) | (58,511 | ) | (13,465 | ) | 69,141 | ||||||||||
Discontinued operations, net | 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 | |||||||||||||
* The Company did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2014 and 2013. 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. | |||||||||||||||||
Operating Partnership [Member] | |||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2014 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues | $ | 633,442 | $ | 652,568 | $ | 664,078 | $ | 664,660 | |||||||||
Operating income | 199,259 | 228,310 | 243,274 | 250,532 | |||||||||||||
Income from continuing operations | 81,680 | 117,210 | 231,252 | 226,959 | |||||||||||||
Discontinued operations, net | 1,052 | 510 | (62 | ) | 82 | ||||||||||||
Net income * | 82,732 | 117,720 | 231,190 | 227,041 | |||||||||||||
Net income available to Units | 81,192 | 116,096 | 229,445 | 225,261 | |||||||||||||
Earnings per Unit – basic: | |||||||||||||||||
Net income available to Units | $ | 0.22 | $ | 0.31 | $ | 0.61 | $ | 0.6 | |||||||||
Weighted average Units outstanding | 374,201 | 374,551 | 375,116 | 375,711 | |||||||||||||
Earnings per Unit – diluted: | |||||||||||||||||
Net income available to Units | $ | 0.22 | $ | 0.31 | $ | 0.61 | $ | 0.59 | |||||||||
Weighted average Units outstanding | 376,384 | 377,118 | 377,954 | 378,886 | |||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Total revenues | $ | 504,722 | $ | 617,217 | $ | 626,629 | $ | 639,134 | |||||||||
Operating income | 104,254 | 63,986 | 120,405 | 223,677 | |||||||||||||
(Loss) income from continuing operations | (165,339 | ) | (58,511 | ) | (13,465 | ) | 69,141 | ||||||||||
Discontinued operations, net | 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 | |||||||||||||
* The Operating Partnership did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2014 and 2013. 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. |
Business_Details
Business (Details) | Dec. 31, 2014 |
Property/Unit schedule | |
Wholly Owned Properties | 364 |
Master Leased Properties Acquired | 3 |
Partially Owned Consolidated Properties | 19 |
Partially Owned Unconsolidated Properties | 3 |
Military Housing Properties | 2 |
Wholly Owned Units | 98,287 |
Master Leased Units | 853 |
Partially Owned Consolidated Units | 3,771 |
Partially Owned Unconsolidated Units | 1,281 |
Military Housing Units | 5,033 |
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 | 391 |
Number of Units in Real Estate Property | 109,225 |
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, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
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 | 27.00% | 26.90% | 27.40% |
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 | 3.78% | 4.12% | 4.35% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.50% | 0.84% | 0.71% |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $9.12 | $7.90 | $8.54 |
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 | $9.21 | $7.97 | $8.55 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Tax (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Deferred Tax Assets Gross | $46,700,000 | ||
Income and other tax (expense) benefit | 1,394,000 | 1,169,000 | 514,000 |
Discontinued Operation, Tax Effect of Discontinued Operation | 8,000 | 449,000 | 34,000 |
Provision for income, franchise and excise taxes | 1,402,000 | 1,618,000 | 548,000 |
Operating Loss Carryforwards | 35,100,000 | ||
Tax Treatment Of Dividends And Distributions Ordinary Dividends | $1.48 | $0.66 | $1.38 |
Tax Treatment Of Dividends And Distributions Qualified Dividends | $0.09 | $0.05 | $0 |
Tax Treatment Of Dividends And Distributions Long Term Capital Gain | $0.28 | $0.87 | $0.25 |
Tax Treatment Of Dividends And Distributions Unrecaptured Section Twelve Hundred And Fifty Gain | $0.16 | $0.27 | $0.15 |
Distributions declared per Common Share outstanding | $2 | $1.85 | $1.78 |
Land And Depreciable Property Net | $16,700,000,000 | $15,200,000,000 | |
Minimum [Member] | |||
Operating Loss Carryforwards, Expiration Dates | 1-Jan-29 | ||
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, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Partially Owned Unconsolidated Properties | 3 | ||
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 | 22,400,000 | 16,500,000 | 14,300,000 |
Accumulated Amortization, Deferred Finance Costs | 37,700,000 | 33,400,000 | |
Partially Owned Consolidated Properties | 19 | ||
Partially Owned Consolidated Units | 3,771 | ||
Noncontrolling Interests - Partially Owned Properties | 124,909,000 | 126,583,000 | |
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 | -10,900,000 | ||
Noncontrolling Interests Settlement Value | $62,900,000 | ||
Unconsolidated Operating [Domain] | |||
Partially Owned Unconsolidated Properties | 3 |
Equity_Capital_and_Other_Inter2
Equity, Capital and Other Interests EQR Common Shares (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Common Stock, Shares, Outstanding January 1, | 362,855,454 | 360,479,260 | 325,054,654 | 297,508,185 |
Common Shares Issued: | ||||
Conversion of OP Units | 94,671 | 67,939 | 675,817 | |
Stock Issued During Period, Shares, New Issues | 0 | 34,468,085 | 25,023,919 | |
Exercise of share options | 2,086,380 | 586,017 | 1,608,427 | |
Employee Share Purchase Plan (ESPP) | 68,807 | 73,468 | 110,054 | |
Restricted Share Grants Net | 169,722 | 229,097 | 128,252 | |
Common Shares Other: | ||||
Conversion of restricted shares to restricted units | -12,146 | 0 | 0 | |
Stock Repurchased and Retired During Period, Shares | -31,240 | 0 | 0 | |
Units | ||||
Common Shares And Units Outstanding | 377,154,145 | 374,659,636 | 339,023,412 | |
Units Ownership Interest in Operating Partnership | 3.80% | 3.80% | 4.10% | |
OP Units Issued: | ||||
Issue Price Per OP Unit | $61.57 | |||
Valuation Operating Partnership Unit | $66,600,000 | |||
Limited Partner [Member] | ||||
Common Shares Other: | ||||
Conversion of restricted shares to restricted units | 12,146 | 0 | 0 | |
Units | ||||
Total Units Outstanding | 14,298,691 | 14,180,376 | 13,968,758 | 13,492,543 |
Issuance Of Restricted Units | 200,840 | 279,557 | 70,235 | |
Issuance Of Units | 0 | 0 | 1,081,797 | |
Shares Issued During Period Shares Conversion Of Units To Common Shares | -94,671 | -67,939 | -675,817 | |
OP Units Issued: | ||||
Valuation Operating Partnership Unit | $66,600,000 |
Equity_Capital_and_Other_Inter3
Equity, Capital and Other Interest Redeemable (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Redeemable Noncontrolling Interests - Operating Partnership | $500,733 | $363,144 | $398,372 | $416,404 |
Change in carrying value | -2,229 | 44,439 | 20,702 | |
Partnership Interest [Member] | ||||
Redeemable Limited Partners | 500,733 | 363,144 | ||
Redemption Value Limited Partners | 500,733 | 363,144 | 398,372 | 416,404 |
Limited Partners Change In Redemption Value | 139,818 | -79,667 | -38,734 | |
Limited Partners Change In Carrying Value | ($2,229) | $44,439 | $20,702 |
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, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
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, 2014 and December 31, 2013 | $50,000 | $50,000 | |
Change in market value of Redeemable Noncontrolling Interests | 139,818 | -79,667 | -38,734 |
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, 2014 and December 31, 2013 | 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, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Capital Unit [Line Items] | ||||
Common Shares And Units Outstanding | 377,154,145 | 374,659,636 | 339,023,412 | |
Issuance of OP Units | 21,850,000 | |||
Exercise of EQR share options | 2,086,380 | 586,017 | 1,608,427 | |
EQR's Employee Share Purchase Plan (ESPP) | 68,807 | 73,468 | 110,054 | |
Restricted Share Grants Net | 169,722 | 229,097 | 128,252 | |
Stock Repurchased and Retired During Period, Shares | -31,240 | 0 | 0 | |
Conversion of restricted shares to restricted units | -12,146 | 0 | 0 | |
Units Ownership Interest in Operating Partnership | 3.80% | 3.80% | 4.10% | |
OP Units Issued: | ||||
Issue Price Per OP Unit | 61.57 | |||
Valuation Operating Partnership Unit | 66,600,000 | |||
Issue Price Per OP Unit | 61.57 | |||
General And Limited Partner [Member] | ||||
Capital Unit [Line Items] | ||||
Common Shares And Units Outstanding | 377,154,145 | 374,659,636 | 339,023,412 | 311,000,728 |
Issuance of OP Units | 0 | 34,468,085 | 25,023,919 | |
Exercise of EQR share options | 2,086,380 | 586,017 | 1,608,427 | |
EQR's Employee Share Purchase Plan (ESPP) | 68,807 | 73,468 | 110,054 | |
Restricted Share Grants Net | 169,722 | 229,097 | 128,252 | |
Issuance Of Restricted Units | 200,840 | 279,557 | 70,235 | |
Issuance Of Units | 0 | 0 | 1,081,797 | |
Limited Partner [Member] | ||||
Capital Unit [Line Items] | ||||
Issuance Of Restricted Units | 200,840 | 279,557 | 70,235 | |
Issuance Of Units | 0 | 0 | 1,081,797 | |
Total Units Outstanding | 14,298,691 | 14,180,376 | 13,968,758 | 13,492,543 |
Conversion of restricted shares to restricted units | 12,146 | 0 | 0 | |
Shares Issued During Period Shares Conversion Of Units To Common Shares | -94,671 | -67,939 | -675,817 | |
Units Ownership Interest in Operating Partnership | 3.80% | 3.80% | 4.10% | |
OP Units Issued: | ||||
Issue Price Per OP Unit | 61.57 | |||
Issue Price Per OP Unit | 61.57 | |||
Limited Partner [Member] | ||||
Capital Unit [Line Items] | ||||
Issuance Of Restricted Units | 200,840 | 279,557 | 70,235 | |
Issuance Of Units | 0 | 0 | 1,081,797 | |
Total Units Outstanding | 14,298,691 | 14,180,376 | 13,968,758 | 13,492,543 |
Conversion of restricted shares to restricted units | 12,146 | 0 | 0 | |
Shares Issued During Period Shares Conversion Of Units To Common Shares | -94,671 | -67,939 | -675,817 | |
OP Units Issued: | ||||
Valuation Operating Partnership Unit | 66,600,000 |
Equity_Capital_and_Other_Inter6
Equity, Capital and Other Interests Text (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Additional Common Shares Authorized | 13,000,000 | ||
Stock Issued During Period, Shares, New Issues | 0 | 34,468,085 | 25,023,919 |
Acquisition of Archstone Common Shares Issued | $0 | $1,929,868,000 | $0 |
Average Price Per Common Share Issued | $60.59 | ||
Units Issued During Period New Issues | 3,200,000 | ||
Stock Issued During Period, Value, New Issues | 192,300,000 | ||
Payments of Stock Issuance Costs | 41,000 | 1,047,000 | 39,359,000 |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 13,000,000 | ||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 12,968,760 | ||
Stock Repurchased and Retired During Period, Shares | -31,240 | 0 | 0 |
Treasury Stock Acquired, Average Cost Per Share | $56.87 | ||
OP units repurchased and retired | 1,777,000 | 0 | 0 |
Redemption of Preferred Shares | 0 | 0 | 150,000,000 |
Issuance Of Units To Noncontrolling Interests | 1,081,797 | ||
Proceeds from Issuance of Common Limited Partners Units | 66,600,000 | ||
Price Per Unit Issued | $61.57 | ||
Properties acquired | 1 | ||
Partially Owned Properties Acquired Properties | 1 | 1 | |
Partially Owned Units Acquired Units | 268 | ||
Change in Paid In Capital | -2,300,000 | 1,300,000 | |
Reduction In Partially Owned Properties | 2,200,000 | 1,300,000 | |
Reduction In Other Liabilities | 1,000,000 | ||
Archstone Transaction [Member] | |||
Stock Issued During Period, Shares, New Issues | 34,468,085 | ||
Acquisition of Archstone Common Shares Issued | 1,929,868,000 | ||
Average Price Per Common Share Issued | $55.99 | ||
Units Issued During Period New Issues | 34,468,085 | ||
Stock Issued During Period, Value, New Issues | 1,200,000,000 | ||
Public Offering [Member] | |||
Stock Issued During Period, Shares, New Issues | 21,850,000 | ||
Average Price Per Common Share Issued | $54.75 | ||
Units Issued During Period New Issues | 21,850,000 | ||
Stock Issued During Period, Value, New Issues | 1,200,000,000 | ||
Payments of Stock Issuance Costs | 35,900,000 | ||
Series N Preferred Stock [Member] | |||
Redemption of Preferred Shares | 150,000,000 | ||
Premium on redemption of Preferred Shares - original issuance costs | 5,100,000 | ||
Preferred Stock Preference Units Dividend Rate Percentage | 6.48% | 6.48% | 6.48% |
Series P [Domain] | |||
Preferred Stock Preference Units Dividend Rate Percentage | 3.00% | ||
Liquidation Value Preferred Interests | 18,400,000 | ||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage | 95.00% | ||
Partner Buyout [Member] | |||
Purchase Price, Business Acquisition, Cost of Acquired Entity | $5,500,000 | ||
ATM Program [Member] | |||
Stock Issued During Period, Shares, New Issues | 3,200,000 |
Real_Estate_Real_Estate_Detail
Real Estate Real Estate (Details) (USD $) | 12 Months Ended | 60 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | |
Land | $6,295,404,000 | $6,192,512,000 | $6,295,404,000 | |
Depreciable property Abstract | ||||
Investment Building and Building Improvements | 17,974,337,000 | 17,509,609,000 | 17,974,337,000 | |
Fixtures and Equipment, Gross | 1,365,276,000 | 1,214,220,000 | 1,365,276,000 | |
Finite-Lived Intangible Assets, Gross | 511,891,000 | 502,218,000 | 511,891,000 | |
Development in Process | 1,343,919,000 | 988,867,000 | 1,343,919,000 | |
Land Available for Development | 184,556,000 | 393,522,000 | 184,556,000 | |
Investment in real estate | 27,675,383,000 | 26,800,948,000 | 27,675,383,000 | |
Accumulated depreciation | 5,432,805,000 | 4,807,709,000 | 5,432,805,000 | |
Investment in real estate, net | 22,242,578,000 | 21,993,239,000 | 22,242,578,000 | |
Ground Lease Intangibles Below Market | 178,251,000 | 178,251,000 | 178,251,000 | |
Retail Lease Intangibles Above Market | 1,260,000 | 1,260,000 | 1,260,000 | |
Lease Intangible Assets | 179,511,000 | 179,511,000 | 179,511,000 | |
Accumulated Amortization Intangible Assets | -8,913,000 | -4,364,000 | -8,913,000 | |
Lease Intangible Assets, Net | 170,598,000 | 175,147,000 | 170,598,000 | |
Ground Lease Intangibles Above Market | 2,400,000 | 2,400,000 | 2,400,000 | |
Retail Lease Intangibles Below Market | 5,270,000 | 5,500,000 | 5,270,000 | |
Lease Intangible Liabilities | 7,670,000 | 7,900,000 | 7,670,000 | |
Amortization Of Intangible Liabilities | -2,258,000 | -1,161,000 | -2,258,000 | |
Lease Intangible Liabilities, net | 5,412,000 | 6,739,000 | 5,412,000 | |
Ground Lease Amortization | 4,300,000 | 3,600,000 | ||
Cost of Property Repairs and Maintenance | 473,098,000 | 449,427,000 | 332,219,000 | |
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 | 0 | 4,000,875,000 | 0 | |
Mortgage notes payable | 5,086,515,000 | 5,174,166,000 | 5,086,515,000 | |
Stock Issued During Period, Shares, New Issues | 0 | 34,468,085 | 25,023,919 | |
Acquisition of Archstone Common Shares Issued | 0 | 1,929,868,000 | 0 | |
Average Price Per Common Share Issued | $60.59 | |||
Noncash or Part Noncash Acquisition, Debt Assumed | 28,900,000 | 34,100,000 | ||
Mark-to-Market Debt Premiums | 127,900,000 | |||
Stock Issued During Period Shares | 21,850,000 | |||
Stock Issued During Period, Value, New Issues | 192,300,000 | |||
Proceeds from Sale of Other Assets | 4,500,000,000 | |||
Number Of Operating Properties Under Long Term Ground Leases | 13 | 13 | ||
Business Combination, Acquisition Related Costs | 400,000 | 300,000 | 7,000,000 | |
Payments of Financing Costs | 10,982,000 | 16,526,000 | 21,209,000 | |
Merger Expenses | 19,900,000 | 5,600,000 | 85,500,000 | |
(Loss) from investments in unconsolidated entities due to merger expenses | -4,300,000 | -54,000,000 | ||
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 | ||
Ground Lease [Member] | ||||
Depreciable property Abstract | ||||
Cost of Property Repairs and Maintenance | 1,100,000 | 2,700,000 | ||
Unconsolidated Properties [Member] | ||||
Depreciable property Abstract | ||||
Uncompleted Development Properties Acquired | 2 | |||
Consolidated Properties [Member] | ||||
Depreciable property Abstract | ||||
Uncompleted Development Properties Acquired | 2 | |||
Archstone [Member] | ||||
Depreciable property Abstract | ||||
Acquisition of Archstone, net of cash acquired | 4,000,000,000 | |||
Mortgage notes payable | 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 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 304,830,000 | |||
Business Combination Purchase Price Allocation Projects Under Development | 36,583,000 | |||
Business Combination Purchase Price Allocation Land Held for Development | 244,097,000 | |||
Business Combination Purchase Price Allocation Investments in Unconsolidated Entities | 230,608,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | 195,260,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | -108,997,000 | |||
Payments of Financing Costs | 2,500,000 | 8,400,000 | 13,500,000 | |
Severance Costs | 54,100,000 | |||
2015 [Member] | ||||
Depreciable property Abstract | ||||
Ground Lease Intangibles Amortization 5 Year | 4,321,000 | 4,321,000 | ||
Retail Lease Intangibles Amortization 5 Year | -939,000 | -939,000 | ||
Total Above And Below Market Ground Lease Intangibles And Retail Lease Intangibles 5 Year | 3,382,000 | 3,382,000 | ||
2016 [Member] | ||||
Depreciable property Abstract | ||||
Ground Lease Intangibles Amortization 5 Year | 4,321,000 | 4,321,000 | ||
Retail Lease Intangibles Amortization 5 Year | -896,000 | -896,000 | ||
Total Above And Below Market Ground Lease Intangibles And Retail Lease Intangibles 5 Year | 3,425,000 | 3,425,000 | ||
2017 [Member] | ||||
Depreciable property 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] | ||||
Depreciable property 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 | ||
2019 [Member] | ||||
Depreciable property 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] | ||||
Depreciable property Abstract | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 5,765,538,000 | |||
Furniture and Fixtures [Member] | ||||
Depreciable property Abstract | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 61,470,000 | |||
Archstone Transaction [Member] | ||||
Depreciable property Abstract | ||||
Ground Lease Intangibles Below Market | 178,251,000 | |||
Retail Lease Intangibles Above Market | 1,260,000 | |||
Ground Lease Intangibles Above Market | 2,400,000 | |||
Retail Lease Intangibles Below Market | 8,040,000 | |||
Business Acquisition, Percentage of Voting Interests Acquired | 60.00% | 60.00% | ||
Properties acquired | 71 | |||
Partially Owned Consolidated Properties Acquired | 1 | |||
Partially Owned Consolidated Units Acquired | 432 | |||
Partially Owned Unconsolidated Properties Acquired | 1 | |||
Partially Owned Unconsolidated Units Acquired | 336 | |||
Master Leased Properties Acquired | 3 | |||
Master Leased Units Acquired | 853 | |||
Uncompleted Development Properties Acquired | 4 | |||
Uncompleted Development Units Acquired | 964 | |||
Land parcels acquired | 14 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 8,968,389,000 | |||
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 | |||
Business Combination, Acquisition Related Costs | 99,000,000 | |||
Projects under development [Member] | ||||
Depreciable property Abstract | ||||
Land Under Development | 466,764,000 | 353,574,000 | 466,764,000 | |
Development in Process | 877,155,000 | 635,293,000 | 877,155,000 | |
Land held for development [Member] | ||||
Depreciable property Abstract | ||||
Development in Process | 39,190,000 | 52,133,000 | 39,190,000 | |
Land Available for Development | 145,366,000 | 341,389,000 | 145,366,000 | |
Archstone Transaction [Member] | ||||
Depreciable property Abstract | ||||
Property Units Acquired | 20,160 | |||
OPERATING PARTNERSHIP | ||||
Land | 6,295,404,000 | 6,192,512,000 | 6,295,404,000 | |
Depreciable property Abstract | ||||
Development in Process | 1,343,919,000 | 988,867,000 | 1,343,919,000 | |
Land Available for Development | 184,556,000 | 393,522,000 | 184,556,000 | |
Investment in real estate | 27,675,383,000 | 26,800,948,000 | 27,675,383,000 | |
Accumulated depreciation | 5,432,805,000 | 4,807,709,000 | 5,432,805,000 | |
Investment in real estate, net | 22,242,578,000 | 21,993,239,000 | 22,242,578,000 | |
Cost of Property Repairs and Maintenance | 473,098,000 | 449,427,000 | 332,219,000 | |
Acquisition of Archstone, net of cash acquired | 0 | 4,000,875,000 | 0 | |
Mortgage notes payable | 5,086,515,000 | 5,174,166,000 | 5,086,515,000 | |
Acquisition of Archstone Common Shares Issued | 0 | 1,929,868,000 | 0 | |
Payments of Financing Costs | 10,982,000 | 16,526,000 | 21,209,000 | |
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] | ||||
Depreciable property Abstract | ||||
Stock Issued During Period, Shares, New Issues | 34,468,085 | |||
Acquisition of Archstone Common Shares Issued | 1,929,868,000 | |||
Average Price Per Common Share Issued | $55.99 | |||
Stock Issued During Period, Value, New Issues | 1,200,000,000 | |||
Public Offering [Member] | ||||
Depreciable property Abstract | ||||
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 | |||
DelayedDrawTermLoan [Member] | ||||
Depreciable property Abstract | ||||
Term Loan Principal Amount | $750,000,000 | |||
Consolidated Rental Properties [Member] | ||||
Depreciable property Abstract | ||||
Properties acquired | 6 | 1 | ||
Property Units Acquired | 1,353 | 322 | ||
Land [Member] | ||||
Depreciable property Abstract | ||||
Land parcels acquired | 2 | 1 |
Real_Estate_Real_Estate_Detail1
Real Estate Real Estate (Details 2) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Equity Method Investment, Ownership Percentage | 20.00% | ||
Properties acquired | 1 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $498,640,000 | $108,000,000 | |
Adjusted purchase price of partner's interest in joint venture | 64,200,000 | ||
Payments to Acquire Interest in Subsidiaries and Affiliates | 44,800,000 | ||
Revaluation Loss | 3,500,000 | ||
Disposed Properties | 11 | 94 | |
Disposed Units | 3,480 | 29,180 | |
Proceeds From Sale Of Property | 592,070,000 | 4,616,073,000 | |
Net gain on sales of real estate properties | 212,685,000 | 0 | 0 |
Net gain on sales of land parcels | 5,277,000 | 12,227,000 | 0 |
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | 2,000,000,000 | ||
Consolidated Rental Properties [Member] | |||
Properties acquired | 6 | 1 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 469,850,000 | 91,500,000 | |
Disposed Properties | 10 | 94 | |
Disposed Units | 3,092 | 29,180 | |
Proceeds From Sale Of Property | 466,968,000 | 4,459,339,000 | |
Land [Member] | |||
Land parcels acquired | 2 | 1 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 28,790,000 | 16,500,000 | |
Disposed Land Parcels | 3 | 7 | |
Proceeds From Sale Of Property | 62,602,000 | 99,650,000 | |
Unconsolidated Land Parcel Disposition | 0 | 1 | |
Commercial Real Estate [Member] | |||
Proceeds From Sale Of Property | 30,734,000 | ||
Commercial Properties Disposed | 0 | 1 | |
Unconsolidated Properties [Member] | |||
Disposed Properties | 1 | ||
Disposed Units | 388 | ||
Proceeds From Sale Of Property | 62,500,000 | 26,350,000 | |
anticipated stabilized real estate value at completion [Member] | |||
Real Estate Investments, Other | 87,500,000 | ||
Unconsolidated Properties [Member] | |||
Disposed Properties | 1 | ||
San Norterra [Domain] | |||
Equity Method Investment, Ownership Percentage | 85.00% | ||
Unconsolidated Properties [Member] | |||
Net gain on sales of real estate properties | 4,899,000 | ||
Series P [Domain] | |||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage | 95.00% | ||
Liquidation Value Preferred Interests | $18,400,000 |
Commitments_to_AcquireDispose_2
Commitments to Acquire/Dispose of Real Estate (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Purchase Price For Commitments To Acquire | $162,350 |
Rental Properties Disposed of [Member] | |
Properties Contracted To Be Disposed | 1 |
Sales Price For Commitments To Dispose | 169,800 |
Units Contracted To Be Disposed | 150 |
Retail Site [Member] | |
Properties Contracted To Be Disposed | 1 |
Sales Price For Commitments To Dispose | 123,300 |
Square footage [Member] | |
Properties Contracted To Be Disposed | 193,230 |
Rental Properties to be acquired [Member] | |
Properties Contracted To Be Acquired | 1 |
Units Contracted To Be Acquired | 202 |
Purchase Price For Commitments To Acquire | 131,250 |
Land Parcel [Member] | |
Purchase Price For Commitments To Acquire | $31,100 |
Land Parcels Contracted To Be Acquired | 4 |
Investments_in_Partially_Owned2
Investments in Partially Owned Entities (Details) (USD $) | 12 Months Ended | 22 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2011 | |
Partially Owned Property Balance Sheet Schedule | |||||
Partially Owned Consolidated Properties | 19 | 19 | |||
Partially Owned Unconsolidated Properties | 3 | 3 | |||
Partially Owned Consolidated Units | 3,771 | 3,771 | |||
Partially Owned Unconsolidated Units | 1,281 | 1,281 | |||
ASSETS | |||||
Investment in real estate | $27,675,383,000 | $26,800,948,000 | $27,675,383,000 | ||
Accumulated depreciation | 5,432,805,000 | 4,807,709,000 | 5,432,805,000 | ||
Investment in real estate, net | 22,242,578,000 | 21,993,239,000 | 22,242,578,000 | ||
Cash and cash equivalents | 40,080,000 | 53,534,000 | 612,590,000 | 40,080,000 | 383,921,000 |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 105,434,000 | 178,526,000 | 105,434,000 | ||
Restricted Cash and Cash Equivalents | 72,303,000 | 103,567,000 | 72,303,000 | ||
Deferred financing costs, net | 58,380,000 | 58,486,000 | 58,380,000 | ||
Other assets | 383,754,000 | 404,557,000 | 383,754,000 | ||
Total assets | 22,950,614,000 | 22,834,545,000 | 22,950,614,000 | ||
LIABILITIES AND EQUITY | |||||
Secured Debt | 5,086,515,000 | 5,174,166,000 | 5,086,515,000 | ||
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | 153,590,000 | 118,791,000 | 153,590,000 | ||
Accrued interest payable | 89,540,000 | 78,309,000 | 89,540,000 | ||
Other liabilities | 389,915,000 | 347,748,000 | 389,915,000 | ||
Security Deposit Liability | 75,633,000 | 71,592,000 | 75,633,000 | ||
Total liabilities | 11,742,105,000 | 11,626,205,000 | 11,742,105,000 | ||
Noncontrolling Interests - Partially Owned Properties | 124,909,000 | 126,583,000 | 124,909,000 | ||
Total liabilities and equity | 22,950,614,000 | 22,834,545,000 | 22,950,614,000 | ||
Partially Owned Property Income Statement Schedule | |||||
Operating revenue | 2,614,748,000 | 2,387,702,000 | 1,747,502,000 | ||
Depreciation | 758,861,000 | 978,973,000 | 560,669,000 | ||
General and administrative/other | 50,948,000 | 62,179,000 | 47,233,000 | ||
Operating (loss) income | 921,375,000 | 512,322,000 | 514,093,000 | ||
Interest and other income | 4,462,000 | 5,283,000 | 151,060,000 | ||
Interest: | |||||
Expense incurred, net | 457,191,000 | 586,854,000 | 455,236,000 | ||
Amortization of deferred financing costs | -11,088,000 | -22,197,000 | -21,295,000 | ||
(Loss) income before income and other taxes and (loss) from investments in unconsolidated entities | 448,485,000 | -121,076,000 | 160,826,000 | ||
Income and other tax (expense) benefit | -1,394,000 | -1,169,000 | -514,000 | ||
(Loss) from investments in unconsolidated entities | -7,952,000 | -58,156,000 | -14,000 | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 658,683,000 | 1,905,353,000 | 881,204,000 | ||
Joint Venture Partner Ownership Percentage | 80.00% | 80.00% | |||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Disposed Properties | 11 | 94 | |||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 179,000 | 2,036,505,000 | 548,278,000 | ||
Disposed Units | 3,480 | 29,180 | |||
Equity Method Investment, Ownership Percentage | 20.00% | 20.00% | |||
Debt Instrument, Maturity Date | 1-Sep-14 | ||||
Distributions from unconsolidated entities b return of capital | 103,793,000 | 25,471,000 | 0 | ||
Preferred Interests | 65,000,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 498,640,000 | 108,000,000 | 498,640,000 | ||
Investment in Joint Venture | 336,900,000 | 336,900,000 | |||
Number of Joint Ventures | 2 | 2 | |||
Partners Payments To Acquire Equity Method Investments | 40,100,000 | ||||
Consolidated Development Projects Held for and or Under Development [Member] | |||||
Partially Owned Property Balance Sheet Schedule | |||||
Partially Owned Consolidated Properties | 0 | 0 | |||
Partially Owned Consolidated Units | 0 | 0 | |||
ASSETS | |||||
Investment in real estate | 340,740,000 | 340,740,000 | |||
Accumulated depreciation | 0 | 0 | |||
Investment in real estate, net | 340,740,000 | 340,740,000 | |||
Cash and cash equivalents | 0 | 0 | |||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 0 | 0 | |||
Restricted Cash and Cash Equivalents | 22,706,000 | 22,706,000 | |||
Deferred financing costs, net | 0 | 0 | |||
Other assets | 6,658,000 | 6,658,000 | |||
Total assets | 370,104,000 | 370,104,000 | |||
LIABILITIES AND EQUITY | |||||
Secured Debt | 0 | 0 | |||
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | 13,307,000 | 13,307,000 | |||
Accrued interest payable | 0 | 0 | |||
Other liabilities | 69,000 | 69,000 | |||
Security Deposit Liability | 25,000 | 25,000 | |||
Total liabilities | 13,401,000 | 13,401,000 | |||
Noncontrolling Interests - Partially Owned Properties | 117,350,000 | 117,350,000 | |||
Parent Equity Interest | 239,353,000 | 239,353,000 | |||
Total Equity Interest | 356,703,000 | 356,703,000 | |||
Total liabilities and equity | 370,104,000 | 370,104,000 | |||
Partially Owned Property Income Statement Schedule | |||||
Operating revenue | 22,000 | ||||
Operating Expenses | 91,000 | ||||
Net operating (loss) income | -69,000 | ||||
Depreciation | 0 | ||||
General and administrative/other | 1,000 | ||||
Operating (loss) income | -70,000 | ||||
Interest and other income | 0 | ||||
Other expenses | 0 | ||||
Interest: | |||||
Expense incurred, net | 0 | ||||
Amortization of deferred financing costs | 0 | ||||
(Loss) income before income and other taxes and (loss) from investments in unconsolidated entities | -70,000 | ||||
Income and other tax (expense) benefit | 0 | ||||
(Loss) from investments in unconsolidated entities | 0 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -70,000 | ||||
Consolidated Operating [Domain] | |||||
Partially Owned Property Balance Sheet Schedule | |||||
Partially Owned Consolidated Properties | 19 | 19 | |||
Partially Owned Consolidated Units | 3,771 | 3,771 | |||
ASSETS | |||||
Investment in real estate | 682,374,000 | 682,374,000 | |||
Accumulated depreciation | 194,481,000 | 194,481,000 | |||
Investment in real estate, net | 487,893,000 | 487,893,000 | |||
Cash and cash equivalents | 19,338,000 | 19,338,000 | |||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 51,979,000 | 51,979,000 | |||
Restricted Cash and Cash Equivalents | 300,000 | 300,000 | |||
Deferred financing costs, net | 2,141,000 | 2,141,000 | |||
Other assets | 26,609,000 | 26,609,000 | |||
Total assets | 588,260,000 | 588,260,000 | |||
LIABILITIES AND EQUITY | |||||
Secured Debt | 360,479,000 | 360,479,000 | |||
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | 1,611,000 | 1,611,000 | |||
Accrued interest payable | 1,283,000 | 1,283,000 | |||
Other liabilities | 885,000 | 885,000 | |||
Security Deposit Liability | 1,954,000 | 1,954,000 | |||
Total liabilities | 366,212,000 | 366,212,000 | |||
Noncontrolling Interests - Partially Owned Properties | 7,559,000 | 7,559,000 | |||
Parent Equity Interest | 214,489,000 | 214,489,000 | |||
Total Equity Interest | 222,048,000 | 222,048,000 | |||
Total liabilities and equity | 588,260,000 | 588,260,000 | |||
Partially Owned Property Income Statement Schedule | |||||
Operating revenue | 88,157,000 | ||||
Operating Expenses | 25,674,000 | ||||
Net operating (loss) income | 62,483,000 | ||||
Depreciation | 21,679,000 | ||||
General and administrative/other | 116,000 | ||||
Operating (loss) income | 40,688,000 | ||||
Interest and other income | 11,000 | ||||
Other expenses | -54,000 | ||||
Interest: | |||||
Expense incurred, net | -15,626,000 | ||||
Amortization of deferred financing costs | 355,000 | ||||
(Loss) income before income and other taxes and (loss) from investments in unconsolidated entities | 24,664,000 | ||||
Income and other tax (expense) benefit | -36,000 | ||||
(Loss) from investments in unconsolidated entities | -1,593,000 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 23,035,000 | ||||
Consolidated Total [Domain] | |||||
Partially Owned Property Balance Sheet Schedule | |||||
Partially Owned Consolidated Properties | 19 | 19 | |||
Partially Owned Consolidated Units | 3,771 | 3,771 | |||
ASSETS | |||||
Investment in real estate | 1,023,114,000 | 1,023,114,000 | |||
Accumulated depreciation | 194,481,000 | 194,481,000 | |||
Investment in real estate, net | 828,633,000 | 828,633,000 | |||
Cash and cash equivalents | 19,338,000 | 19,338,000 | |||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 51,979,000 | 51,979,000 | |||
Restricted Cash and Cash Equivalents | 23,006,000 | 23,006,000 | |||
Deferred financing costs, net | 2,141,000 | 2,141,000 | |||
Other assets | 33,267,000 | 33,267,000 | |||
Total assets | 958,364,000 | 958,364,000 | |||
LIABILITIES AND EQUITY | |||||
Secured Debt | 360,479,000 | 360,479,000 | |||
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | 14,918,000 | 14,918,000 | |||
Accrued interest payable | 1,283,000 | 1,283,000 | |||
Other liabilities | 954,000 | 954,000 | |||
Security Deposit Liability | 1,979,000 | 1,979,000 | |||
Total liabilities | 379,613,000 | 379,613,000 | |||
Noncontrolling Interests - Partially Owned Properties | 124,909,000 | 124,909,000 | |||
Parent Equity Interest | 453,842,000 | 453,842,000 | |||
Total Equity Interest | 578,751,000 | 578,751,000 | |||
Total liabilities and equity | 958,364,000 | 958,364,000 | |||
Partially Owned Property Income Statement Schedule | |||||
Operating revenue | 88,179,000 | ||||
Operating Expenses | 25,765,000 | ||||
Net operating (loss) income | 62,414,000 | ||||
Depreciation | 21,679,000 | ||||
General and administrative/other | 117,000 | ||||
Operating (loss) income | 40,618,000 | ||||
Interest and other income | 11,000 | ||||
Other expenses | -54,000 | ||||
Interest: | |||||
Expense incurred, net | -15,626,000 | ||||
Amortization of deferred financing costs | 355,000 | ||||
(Loss) income before income and other taxes and (loss) from investments in unconsolidated entities | 24,594,000 | ||||
Income and other tax (expense) benefit | -36,000 | ||||
(Loss) from investments in unconsolidated entities | -1,593,000 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 22,965,000 | ||||
Unconsolidated Completed, Not Stabilized [Domain] | |||||
Partially Owned Property Balance Sheet Schedule | |||||
Partially Owned Unconsolidated Properties | 1 | 1 | |||
Partially Owned Unconsolidated Units | 444 | 444 | |||
ASSETS | |||||
Investment in real estate | 155,376,000 | 155,376,000 | |||
Accumulated depreciation | 6,921,000 | 6,921,000 | |||
Investment in real estate, net | 148,455,000 | 148,455,000 | |||
Cash and cash equivalents | 2,684,000 | 2,684,000 | |||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 0 | 0 | |||
Restricted Cash and Cash Equivalents | 0 | 0 | |||
Deferred financing costs, net | 0 | 0 | |||
Other assets | 529,000 | 529,000 | |||
Total assets | 151,668,000 | 151,668,000 | |||
LIABILITIES AND EQUITY | |||||
Secured Debt | 96,793,000 | 96,793,000 | |||
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | 769,000 | 769,000 | |||
Accrued interest payable | 464,000 | 464,000 | |||
Other liabilities | 294,000 | 294,000 | |||
Security Deposit Liability | 173,000 | 173,000 | |||
Total liabilities | 98,493,000 | 98,493,000 | |||
Noncontrolling Interests - Partially Owned Properties | 47,223,000 | 47,223,000 | |||
Parent Equity Interest | 5,952,000 | 5,952,000 | |||
Total Equity Interest | 53,175,000 | 53,175,000 | |||
Total liabilities and equity | 151,668,000 | 151,668,000 | |||
Partially Owned Property Income Statement Schedule | |||||
Operating revenue | 10,182,000 | ||||
Operating Expenses | 3,781,000 | ||||
Net operating (loss) income | 6,401,000 | ||||
Depreciation | 6,512,000 | ||||
General and administrative/other | 1,000 | ||||
Operating (loss) income | -112,000 | ||||
Interest and other income | 0 | ||||
Other expenses | 0 | ||||
Interest: | |||||
Expense incurred, net | -5,296,000 | ||||
Amortization of deferred financing costs | 0 | ||||
(Loss) income before income and other taxes and (loss) from investments in unconsolidated entities | -5,408,000 | ||||
Income and other tax (expense) benefit | -7,000 | ||||
(Loss) from investments in unconsolidated entities | 0 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -5,415,000 | ||||
Unconsolidated Operating [Domain] | |||||
Partially Owned Property Balance Sheet Schedule | |||||
Partially Owned Unconsolidated Properties | 2 | 2 | |||
Partially Owned Unconsolidated Units | 837 | 837 | |||
ASSETS | |||||
Investment in real estate | 134,669,000 | 134,669,000 | |||
Accumulated depreciation | 11,391,000 | 11,391,000 | |||
Investment in real estate, net | 123,278,000 | 123,278,000 | |||
Cash and cash equivalents | 3,172,000 | 3,172,000 | |||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 0 | 0 | |||
Restricted Cash and Cash Equivalents | 214,000 | 214,000 | |||
Deferred financing costs, net | 8,000 | 8,000 | |||
Other assets | 691,000 | 691,000 | |||
Total assets | 127,363,000 | 127,363,000 | |||
LIABILITIES AND EQUITY | |||||
Secured Debt | 78,628,000 | 78,628,000 | |||
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | 259,000 | 259,000 | |||
Accrued interest payable | 227,000 | 227,000 | |||
Other liabilities | 671,000 | 671,000 | |||
Security Deposit Liability | 300,000 | 300,000 | |||
Total liabilities | 80,085,000 | 80,085,000 | |||
Noncontrolling Interests - Partially Owned Properties | 43,655,000 | 43,655,000 | |||
Parent Equity Interest | 3,623,000 | 3,623,000 | |||
Total Equity Interest | 47,278,000 | 47,278,000 | |||
Total liabilities and equity | 127,363,000 | 127,363,000 | |||
Partially Owned Property Income Statement Schedule | |||||
Operating revenue | 15,160,000 | ||||
Operating Expenses | 6,818,000 | ||||
Net operating (loss) income | 8,342,000 | ||||
Depreciation | 5,800,000 | ||||
General and administrative/other | 209,000 | ||||
Operating (loss) income | 2,333,000 | ||||
Interest and other income | 0 | ||||
Other expenses | 0 | ||||
Interest: | |||||
Expense incurred, net | -3,831,000 | ||||
Amortization of deferred financing costs | 2,000 | ||||
(Loss) income before income and other taxes and (loss) from investments in unconsolidated entities | -1,500,000 | ||||
Income and other tax (expense) benefit | 0 | ||||
(Loss) from investments in unconsolidated entities | 0 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -1,500,000 | ||||
Unconsolidated Total [Domain] | |||||
Partially Owned Property Balance Sheet Schedule | |||||
Partially Owned Unconsolidated Properties | 3 | 3 | |||
Partially Owned Unconsolidated Units | 1,281 | 1,281 | |||
ASSETS | |||||
Investment in real estate | 290,045,000 | 290,045,000 | |||
Accumulated depreciation | 18,312,000 | 18,312,000 | |||
Investment in real estate, net | 271,733,000 | 271,733,000 | |||
Cash and cash equivalents | 5,856,000 | 5,856,000 | |||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 0 | 0 | |||
Restricted Cash and Cash Equivalents | 214,000 | 214,000 | |||
Deferred financing costs, net | 8,000 | 8,000 | |||
Other assets | 1,220,000 | 1,220,000 | |||
Total assets | 279,031,000 | 279,031,000 | |||
LIABILITIES AND EQUITY | |||||
Secured Debt | 175,421,000 | 175,421,000 | |||
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable | 1,028,000 | 1,028,000 | |||
Accrued interest payable | 691,000 | 691,000 | |||
Other liabilities | 965,000 | 965,000 | |||
Security Deposit Liability | 473,000 | 473,000 | |||
Total liabilities | 178,578,000 | 178,578,000 | |||
Noncontrolling Interests - Partially Owned Properties | 90,878,000 | 90,878,000 | |||
Parent Equity Interest | 9,575,000 | 9,575,000 | |||
Total Equity Interest | 100,453,000 | 100,453,000 | |||
Total liabilities and equity | 279,031,000 | 279,031,000 | |||
Partially Owned Property Income Statement Schedule | |||||
Operating revenue | 25,342,000 | ||||
Operating Expenses | 10,599,000 | ||||
Net operating (loss) income | 14,743,000 | ||||
Depreciation | 12,312,000 | ||||
General and administrative/other | 210,000 | ||||
Operating (loss) income | 2,221,000 | ||||
Interest and other income | 0 | ||||
Other expenses | 0 | ||||
Interest: | |||||
Expense incurred, net | -9,127,000 | ||||
Amortization of deferred financing costs | 2,000 | ||||
(Loss) income before income and other taxes and (loss) from investments in unconsolidated entities | -6,908,000 | ||||
Income and other tax (expense) benefit | -7,000 | ||||
(Loss) from investments in unconsolidated entities | 0 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -6,915,000 | ||||
Archstone Transaction [Member] | |||||
Interest: | |||||
Liquidation Value Preferred Interests | 74,600,000 | 74,600,000 | |||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Distributions from unconsolidated entities b return of capital | 79,600,000 | 98,500,000 | |||
Residual JV [Domain] | |||||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Initial Basis of Real Estate, Unconsolidated | -147,600,000 | ||||
Joint Venture Partner [Member] | |||||
LIABILITIES AND EQUITY | |||||
Noncontrolling Interests - Partially Owned Properties | 117,400,000 | 117,400,000 | |||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Land purchase price | 57,900,000 | 57,900,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 75,700,000 | 75,700,000 | |||
Company's Portion [Member] | |||||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Land purchase price | 76,100,000 | 76,100,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 102,500,000 | 102,500,000 | |||
Nexus Sawgrass [Member] | |||||
LIABILITIES AND EQUITY | |||||
Secured Debt | 48,600,000 | 48,600,000 | |||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.60% | 5.60% | |||
Debt Instrument, Maturity Date | 1-Jan-21 | ||||
Project Cost | 78,600,000 | 78,600,000 | |||
Maximum Debt Commitment | 48,700,000 | 48,700,000 | |||
Domain [Member] | |||||
LIABILITIES AND EQUITY | |||||
Secured Debt | 96,800,000 | 96,800,000 | |||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | 5.75% | |||
Debt Instrument, Maturity Date | 1-Jan-22 | ||||
Project Cost | 155,800,000 | 155,800,000 | |||
Maximum Debt Commitment | 98,600,000 | 98,600,000 | |||
Unconsolidated Properties [Member] | |||||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Disposed Properties | 1 | ||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 4,900,000 | ||||
Archstone Transaction [Member] | |||||
Interest: | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 60.00% | 60.00% | |||
Joint Venture Partner Ownership Percentage | 40.00% | 40.00% | |||
Company's Portion [Member] | |||||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Preferred Interests | 39,000,000 | ||||
Wisconsin Place [Domain] | |||||
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 | ||||
Interest: | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 75.00% | ||||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Initial Basis of Real Estate, Consolidated | 198,500,000 | ||||
Waterton Tenside [Domain] | |||||
Partially Owned Property Balance Sheet Schedule | |||||
Partially Owned Unconsolidated Units | 336 | ||||
LIABILITIES AND EQUITY | |||||
Secured Debt | 30,000,000 | ||||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Equity Method Investment, Ownership Percentage | 20.00% | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.66% | ||||
Debt Instrument, Maturity Date | 1-Dec-18 | ||||
Initial Basis of Real Estate, Unconsolidated | 5,100,000 | ||||
Joint Venture Partner [Member] | |||||
Investments In Partially Owned Entities (Textuals) [Abstract] | |||||
Disposed Properties | 1 | 2 | |||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $1,100,000 | $21,300,000 | |||
Disposed Units | 388 | 441 |
Deposits_Restricted_Details
Deposits - Restricted (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Earnest Money On Pending Acquisitions | $580 | $4,514 |
Restricted deposits on real estate investments | 24,701 | 53,771 |
Resident security and utility deposits | 46,516 | 44,777 |
Other Restricted Cash | 506 | 505 |
Restricted Cash and Cash Equivalents | 72,303 | 103,567 |
Escrow Deposit | 2,235 | 3,687 |
Replacement Reserve Escrow | 3,431 | 4,229 |
Debt Instrument, Cumulative Sinking Fund Payments | 41,567 | 33,868 |
Escrow deposits - other | 852 | 852 |
Escrow Deposits For Mortgage And Replacement Reserves | $48,085 | $42,636 |
Debt_Mortgage_Notes_Payable_De
Debt Mortgage Notes Payable (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 0.03% | 0.03% | |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 7.25% | 7.25% | |
Weighted Average Mortgage Debt Interest Rate | 4.21% | 4.23% | |
Debt Instrument, Maturity Date | 1-Sep-14 | ||
Mortgage notes payable | $5,086,515,000 | $5,174,166,000 | |
Repayments of Long-term Debt | 100,700,000 | ||
Assumed mortgage debt | 28,900,000 | 34,100,000 | |
Properties Collateralized | 1 | ||
Mark-to-Market Debt Premiums | 127,900,000 | ||
Proceeds from Issuance of Long-term Debt | 0 | 902,886,000 | 26,495,000 |
Write-off of unamortized deferred financing costs | 7,400,000 | ||
Repayments Of Mortgage Notes Payable | 11,869,000 | 12,658,000 | 14,088,000 |
Prepayment Penalty Charges | 300,000 | 222,400,000 | |
Write off unamortized (premium) discount | 1,900,000 | -110,500,000 | |
Historical cost, net of accumulated depreciation, of encumbered properties | 6,900,000,000 | 7,300,000,000 | |
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 | ||
London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.75% | ||
Credit enhanced debt [Member] | |||
Debt Instrument [Line Items] | |||
Mortgage notes payable | 700,500,000 | 700,500,000 | |
Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Repayments Of Mortgage Notes Payable | 2,500,000,000 | ||
Other Debt Obligations [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 0.10% | ||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 5.24% | ||
Debt Instrument, Maturity Date | 1-May-61 | 1-May-61 | |
Assumed mortgage debt | 339,000,000 | ||
Properties Collateralized | 3 | ||
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% | ||
Debt Instrument, Maturity Date | 1-Nov-17 | ||
Assumed mortgage debt | 1,200,000,000 | ||
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% | ||
Debt Instrument, Maturity Date | 1-Nov-14 | ||
Assumed mortgage debt | 963,500,000 | ||
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] | |||
Debt Instrument, Maturity Date | 15-Nov-36 | ||
Assumed mortgage debt | $346,600,000 | ||
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% | ||
Nontaxable Municipal Bonds [Member] | Maximum [Member] | SIFMA [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Description of Variable Rate Basis | SIFMA plus 1.402% |
Debt_Notes_Details
Debt Notes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Debt Instrument [Line Items] | |||
Repayments of Notes Payable | $1,250,000,000 | $400,000,000 | $975,991,000 |
Proceeds from Issuance of Unsecured Debt | 500,000,000 | ||
Bridge Loan Principal Amount | 2,500,000,000 | ||
Debt Instrument, Fee Amount | 10,900,000 | ||
Write-off of unamortized deferred financing costs | 7,400,000 | ||
Summary of Company's unsecured note balances and certain interest rate and maturity date information | |||
Notes, net | 5,425,346,000 | 5,477,088,000 | |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 0.03% | 0.03% | |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 7.25% | 7.25% | |
5.250% Notes [Member] [Member] | |||
Debt Instrument [Line Items] | |||
Repayments of Notes Payable | 500,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.25% | ||
5.200% Notes [Member] | |||
Debt Instrument [Line Items] | |||
Repayments of Notes Payable | 400,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.20% | ||
DelayedDrawTermLoan [Member] | |||
Debt Instrument [Line Items] | |||
Term Loan Principal Amount | 750,000,000 | ||
Repayments of Notes Payable | 750,000,000 | ||
Write-off of unamortized deferred financing costs | 600,000 | ||
2.375% Notes [Member] | |||
Debt Instrument [Line Items] | |||
Term Loan Principal Amount | 450,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.38% | ||
Proceeds from Issuance of Unsecured Debt | 450,000,000 | ||
Term Loan Facility Spread | 0.61% | ||
Proceeds from Debt, Net of Issuance Costs | 449,600,000 | ||
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum | 2.52% | ||
3.00% Notes [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ||
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% | ||
4.50% Notes [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | ||
Proceeds from Issuance of Unsecured Debt | 750,000,000 | ||
Proceeds from Debt, Net of Issuance Costs | 744,700,000 | ||
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum | 4.57% | ||
Fixed Rate Public or Private Notes [Member] | |||
Summary of Company's unsecured note balances and certain interest rate and maturity date information | |||
Notes, net | 4,974,154,000 | 4,727,088,000 | |
Weighted Average Interest Rate | 5.45% | 5.55% | |
Floating Rate Public or Private Notes [Member] | |||
Summary of Company's unsecured note balances and certain interest rate and maturity date information | |||
Notes, net | 451,192,000 | 750,000,000 | |
Weighted Average Interest Rate | 1.15% | 1.58% | |
Bridge Loan [Member] | |||
Debt Instrument [Line Items] | |||
Write-off of unamortized deferred financing costs | 2,500,000 | ||
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-19 | 1-Jan-15 | |
Debt Instrument, Maturity Date Range, End | 31-Dec-19 | 31-Dec-15 | |
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% | 3.00% | |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 7.57% | 7.57% | |
Debt Instrument, Maturity Date Range, Start | 1-Jan-15 | 1-Jan-14 | |
Debt Instrument, Maturity Date Range, End | 31-Dec-44 | 31-Dec-26 | |
London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.75% | ||
London Interbank Offered Rate (LIBOR) [Member] | 2.375% Notes [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus .61% | ||
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.20% | ||
Bridge Loan [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Fee Amount | $8,400,000 |
Debt_Lines_of_Credit_Details
Debt Lines of Credit (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Maturity Date | 1-Sep-14 | ||||
Long-term Line of Credit | $115,000,000 | $333,000,000 | |||
A 175 billion LOC [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Unsecured revolving credit facility | 1,750,000,000 | ||||
Remaining borrowing capacity | 2,350,000,000 | ||||
Amount restricted/dedicated to support letters of credit | 34,900,000 | ||||
Weighted average interest rate on revolving letter of credit | 1.26% | ||||
A 250 billion LOC [Member] [Domain] | |||||
Line of Credit Facility [Line Items] | |||||
Unsecured revolving credit facility | 2,500,000,000 | ||||
500.0 million ability to increase | 500,000,000 | ||||
Line Of Credit Facility Commitment Fee | 15 Basis Points | ||||
Line of Credit Maturity | 1-Apr-18 | ||||
Remaining borrowing capacity | 2,120,000,000 | ||||
Amount restricted/dedicated to support letters of credit | 43,800,000 | ||||
Weighted average interest rate on revolving letter of credit | 0.95% | ||||
$1.25 billion LOC [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Unsecured revolving credit facility | 1,750,000,000 | 1,250,000,000 | |||
500.0 million ability to increase | 500,000,000 | ||||
Line of Credit Maturity | 13-Jul-14 | ||||
Increase to Line of Credit | 500,000,000 | ||||
Line of Credit Facility, Commitment Fee Percentage | 0.20% | ||||
$1.425 Billion LOC [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Unsecured revolving credit facility | 1,425,000,000 | ||||
Line of Credit Maturity | 1-Feb-12 | ||||
Write Off Of Unamortized Deferred Financing Costs | $200,000 | ||||
London Interbank Offered Rate (LIBOR) [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.75% | ||||
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | A 250 billion LOC [Member] [Domain] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.05% | ||||
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | $1.25 billion LOC [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.15% |
Debt_Other_Details
Debt Other (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Debt Instrument [Line Items] | |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $408,420 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 1,192,798 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 1,346,708 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 514,510 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 1,278,469 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 6,135,842 |
Debt Instrument, Unamortized Discount | -31,886 |
Total Secured and Unsecured Debt | $10,844,861 |
Derivative_and_Other_Fair_Valu2
Derivative and Other Fair Value Instruments (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Forward Starting Swaps [Member] | |
Derivative [Line Items] | |
Current Notional Balance | $400,000,000 |
Lowest Possible Notional | 400,000,000 |
Highest Possible Notional | 400,000,000 |
Lowest Interest Rate | 2.27% |
Highest Interest Rate | 3.19% |
Earliest Maturity Date | 2025 |
Latest Maturity Date | 2025 |
Fair Value Hedging [Member] | |
Derivative [Line Items] | |
Current Notional Balance | 450,000,000 |
Lowest Possible Notional | 450,000,000 |
Highest Possible Notional | 450,000,000 |
Lowest Interest Rate | 2.38% |
Highest Interest Rate | 2.38% |
Earliest Maturity Date | 2019 |
Latest Maturity Date | 2019 |
2.375% Notes [Member] | |
Derivative [Line Items] | |
Term Loan Principal Amount | $450,000,000 |
Debt Instrument, Interest Rate, Stated Percentage | 2.38% |
Term Loan Facility Spread | 0.61% |
Derivative_and_Other_Fair_Valu3
Derivative and Other Fair Value Instruments (Details 1) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | $1,597 | |
Derivative asset, fair value | 332 | 18,710 |
Fair Value Of Serp Investments | 104,463 | 83,845 |
Assets, Fair Value Disclosure | 106,392 | 102,555 |
Derivative liability, fair value | 14,104 | |
Other Liabilities, Fair Value Disclosure | 104,463 | 83,845 |
Liabilities, Fair Value Disclosure | 118,567 | 83,845 |
Redeemable Noncontrolling Interest Operating Partnership Liability Fair Value Disclosure | 500,733 | 363,144 |
Fair Value, Inputs, Level 1 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, fair value | 0 | 0 |
Fair Value Of Serp Investments | 104,463 | 83,845 |
Assets, Fair Value Disclosure | 104,463 | 83,845 |
Derivative liability, fair value | 0 | |
Other Liabilities, Fair Value Disclosure | 104,463 | 83,845 |
Liabilities, Fair Value Disclosure | 104,463 | 83,845 |
Redeemable Noncontrolling Interest Operating Partnership Liability Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | 1,597 | |
Derivative asset, fair value | 332 | 18,710 |
Fair Value Of Serp Investments | 0 | 0 |
Assets, Fair Value Disclosure | 1,929 | 18,710 |
Derivative liability, fair value | 14,104 | |
Other Liabilities, Fair Value Disclosure | 0 | 0 |
Liabilities, Fair Value Disclosure | 14,104 | 0 |
Redeemable Noncontrolling Interest Operating Partnership Liability Fair Value Disclosure | 500,733 | 363,144 |
Fair Value, Inputs, Level 3 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, fair value | 0 | 0 |
Fair Value Of Serp Investments | 0 | 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, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments | $1,597 | ($1,523) | ($7,448) |
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge | -1,597 | 1,523 | 7,448 |
Effective Portion - Amount of Gain/ (Loss) Recognized in OCI on Derivative | -33,215 | 18,771 | -11,772 |
Effective Portion - Amount of Gain/ (Loss) Reclassified from Accumulated OCI into Income | -16,868 | -20,141 | -14,678 |
Ineffective Portion - Amount of Gain/ (Loss) Reclassifed from Accumulated OCI into Income | 91 | 0 | 0 |
Interest Rate Swap [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments | 1,597 | -1,523 | -7,448 |
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge | -1,597 | 1,523 | 7,448 |
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 | -33,215 | 18,771 | -11,772 |
Effective Portion - Amount of Gain/ (Loss) Reclassified from Accumulated OCI into Income | -16,868 | -20,141 | -14,678 |
Ineffective Portion - Amount of Gain/ (Loss) Reclassifed from Accumulated OCI into Income | $91 | $0 | $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, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Available for Sale and Held to Maturity Securities | |||
Proceeds from sale of investment securities | $57 | $4,878 | $0 |
(Gains) on Sale of Securities, Net | 0 | -2,122 | 0 |
Available-for-sale Securities [Member] | |||
Schedule of Available for Sale and Held to Maturity Securities | |||
Proceeds from sale of investment securities | 2,800 | ||
(Gains) on Sale of Securities, Net | $2,100 |
Derivative_and_Other_Fair_Valu6
Derivative and Other Fair Value Instruments (Details Textuals) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Derivative [Line Items] | ||
Mortgage notes payable | $5,086,515,000 | $5,174,166,000 |
Notes, net | 5,425,346,000 | 5,477,088,000 |
Fair value of mortgage notes payable | 5,100,000,000 | 5,100,000,000 |
Fair value of unsecured notes payable including line of credit | 6,100,000,000 | 5,900,000,000 |
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | -172,200,000 | -155,800,000 |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 22,000,000 | |
Payments for (Proceeds from) Hedge, Investing Activities | 2,000,000 | 44,700,000 |
Debt Instrument, Face Amount | 750,000,000 | |
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net | 100,000 | |
Proceeds from Issuance of Unsecured Debt | 500,000,000 | |
Interest Expense | 1,300,000 | 700,000 |
Charges Hedge Termination Activities | 800,000 | 44,000,000 |
Total Note Payable and Long-Term Line of Credit [Member] | ||
Derivative [Line Items] | ||
Notes, net | $5,800,000,000 | $5,600,000,000 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income (loss) from continuing operations | $657,101 | ($168,174) | $160,298 |
Income (Loss) Attributable to Noncontrolling Interest | -24,771 | 6,834 | -6,417 |
Net (income) loss attributable to Noncontrolling Interests - Partially Owned Properties | -2,544 | 538 | -844 |
Dividends, Preferred Stock | -4,145 | -4,145 | -10,355 |
Premium on redemption of Preferred Shares | 0 | 0 | -5,152 |
Income (Loss) from Continuing Operations Attributable to Parent | 625,641 | -164,947 | 137,530 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 1,522 | 1,991,415 | 688,682 |
Net Income (Loss) Available to Common Stockholders, Basic | 627,163 | 1,826,468 | 826,212 |
Income From Continuing Operations Available To Common Shares | 650,412 | 143,947 | |
Discontinued operations, net | 1,582 | 2,073,527 | 720,906 |
Net Income (Loss) Available to Common Stockholders, Diluted | 651,994 | 1,826,468 | 864,853 |
Weighted average Common Shares outstanding | 361,181 | 354,305 | 302,701 |
Dilutive Op Units | 13,718 | 13,853 | |
Dilutive Securities Options | 2,836 | 3,212 | |
Weighted Average Number of Shares Outstanding, Diluted | 377,735 | 354,305 | 319,766 |
Net Income per share - basic | $1.74 | $5.16 | $2.73 |
Net income per share - diluted | $1.73 | $5.16 | $2.71 |
Income (loss) from continuing operations available to Common Shares | $1.73 | ($0.47) | $0.45 |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | $0.00 | $5.62 | $2.27 |
Income (Loss) from Continuing Operations, Per Diluted Share | $1.72 | ($0.47) | $0.45 |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | $0.00 | $5.62 | $2.25 |
OPERATING PARTNERSHIP | |||
Income (loss) from continuing operations | 657,101 | -168,174 | 160,298 |
Net (income) loss attributable to Noncontrolling Interests - Partially Owned Properties | -2,544 | 538 | -844 |
Premium on redemption of Preferred Shares | 0 | 0 | -5,152 |
Discontinued operations, net | 1,582 | 2,073,527 | 720,906 |
Dilutive Securities Options | 2,836 | 3,212 | |
Net Income per share - basic | $1.74 | $5.16 | $2.73 |
Net income per share - diluted | $1.73 | $5.16 | $2.71 |
Income (loss) from continuing operations available to Common Shares | $1.73 | ($0.47) | $0.45 |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | $0.00 | $5.62 | $2.27 |
Income (Loss) from Continuing Operations, Per Diluted Share | $1.72 | ($0.47) | $0.45 |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | $0.00 | $5.62 | $2.25 |
Dividend preference units | -4,145 | -4,145 | -10,355 |
Income Loss From Continuing Operations Available To Units | 650,412 | -171,781 | 143,947 |
Net Income loss available to Op unitholders basic diluted numerator | $651,994 | $1,901,746 | $864,853 |
Weighted Average Limited Partnership and General Partnership Units Outstanding, Basic | 374,899 | 368,038 | 316,554 |
Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Diluted | 377,735 | 368,038 | 319,766 |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
REVENUES | |||
Disposal Group Including Discontinued Operation Rental Revenue | $1,309 | $121,942 | $445,832 |
Disposal Group, Including Discontinued Operation, Revenue | 1,309 | 121,942 | 445,832 |
EXPENSES | |||
Disposal Group Including Discontinued Operation Property And Maintenance | -141 | 36,792 | 103,371 |
Disposal Group Including Discontinued Operation Real Estate Taxes And Insurance | 267 | 11,903 | 41,208 |
Disposal Group Including Discontinued Operations Property Management | 0 | 1 | 211 |
Disposal Group Including Discontinued Operation Depreciation | 0 | 34,380 | 124,323 |
Disposal Group Including Discontinued Operation General And Administrative | 89 | 85 | 92 |
Disposal Group, Including Discontinued Operation, Operating Expense | 215 | 83,161 | 269,205 |
Disposal Group, Including Discontinued Operation, Operating Income (Loss) | 1,094 | 38,781 | 176,627 |
Disposal Group Including Discontinued Operation Interest And Other Income | 317 | 217 | 156 |
Disposal Group Including Discontinued Operation Other Expenses | 0 | -3 | -170 |
Interest: | |||
Expense incurred, net | 0 | -1,296 | -3,811 |
Disposal Group Including Discontinued Operation Amortization Of Deferred Financing Costs | 0 | -228 | -140 |
Discontinued Operation, Tax Effect of Discontinued Operation | -8 | -449 | -34 |
Income Loss From Discontinued Operations | 1,403 | 37,022 | 172,628 |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | -179 | -2,036,505 | -548,278 |
Discontinued operations, net | $1,582 | $2,073,527 | $720,906 |
Share_Incentive_Plans_Details
Share Incentive Plans (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation information | |||
Compensation Expense | $27,543 | $35,474 | $24,832 |
Compensation Capitalized | 2,538 | 2,545 | 2,128 |
Compensation Equity | 30,081 | 38,019 | 26,960 |
Dividends Incurred | 2,260 | 1,487 | 1,183 |
Restricted shares [Member] | |||
Compensation information | |||
Compensation Expense | 9,244 | 12,185 | 8,014 |
Compensation Capitalized | 660 | 1,079 | 922 |
Compensation Equity | 9,904 | 13,264 | 8,936 |
Dividends Incurred | 1,012 | 967 | 949 |
Long Term Incentive Plan Units [Member] | |||
Compensation information | |||
Compensation Expense | 11,049 | 13,108 | 5,004 |
Compensation Capitalized | 920 | 501 | 303 |
Compensation Equity | 11,969 | 13,609 | 5,307 |
Dividends Incurred | 1,248 | 520 | 234 |
Employee Stock Option [Member] | |||
Compensation information | |||
Compensation Expense | 6,453 | 9,569 | 10,970 |
Compensation Capitalized | 896 | 945 | 782 |
Compensation Equity | 7,349 | 10,514 | 11,752 |
Dividends Incurred | 0 | 0 | 0 |
Employee Share Purchase Plan Discount [Member] | |||
Compensation information | |||
Compensation Expense | 797 | 612 | 844 |
Compensation Capitalized | 62 | 20 | 121 |
Compensation Equity | 859 | 632 | 965 |
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, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||
Common Shares Subject to Options, Beginning Balance | 8,470,532 | 8,115,255 | 8,594,020 |
Common Shares Subject to Options, Awards granted | 667,877 | 1,006,444 | 1,164,484 |
Stock Options Exercised | -2,086,380 | -586,017 | -1,608,425 |
Common Shares Subject to Options, Awards forfeited | -19,022 | -47,819 | -23,795 |
Common Shares Subject to Options, Awards expired | -2,387 | -17,331 | -11,029 |
Common Shares Subject to Options, Ending Balance | 7,030,620 | 8,470,532 | 8,115,255 |
Weighted Average Exercise Price per option, Beginning Balance | $43.67 | $41.31 | $36.81 |
Weighted Average Exercise Price per option, Awards granted | $56.72 | $55.07 | $60.22 |
Weighted Average Exercise Price per option, Awards exercised/vested | $39.34 | $29.34 | $30.87 |
Weighted Average Exercise Price per option, Awards forfeited | $56.32 | $56.16 | $51.55 |
Weighted Average Exercise Price per option, Awards expired | $55.24 | $47.51 | $35.53 |
Weighted Average Exercise Price per option, Ending Balance | $46.16 | $43.67 | $41.31 |
Restricted Shares, Beginning Balance | 500,234 | 524,953 | 697,510 |
Restricted Shares, Awards granted | 176,457 | 246,731 | 140,980 |
Restricted share grants vested | -175,344 | -253,816 | -300,809 |
Restricted Shares, Awards forfeited | -6,735 | -17,634 | -12,728 |
Restricted Shares, Awards Expired | 0 | 0 | 0 |
Restricted Shares, Ending Balance | 482,466 | 500,234 | 524,953 |
Weighted Average Fair Value per Restricted Share, Beginning Balance | $55.79 | $46.81 | $34.17 |
Weighted Average Fair Value per Restricted Share, Awards granted | $56.56 | $55.37 | $60.20 |
Weighted Average Fair Value per Restricted Share, Awards exercised/vested | $53.44 | $36.81 | $23.79 |
Weighted Average Fair Value per Restricted Share, Awards forfeited | $56.57 | $55.74 | $46.25 |
Weighted Average Fair Value per Restricted Share, Awards Expired | $0 | $0 | $0 |
Weighted Average Fair Value per Restricted Share, Ending Balance | $56.89 | $55.79 | $46.81 |
Restricted Units, Beginning Balance | 471,256 | 285,034 | 367,620 |
Restricted Units, Awards Granted | 201,507 | 281,931 | 70,235 |
Restricted Units, Awards exercised/vested | -60,294 | -93,335 | -152,821 |
Restricted Units, Awards forfeited | -667 | 2,374 | 0 |
Restricted Units, Awards Expired | 0 | 0 | 0 |
Conversion of restricted shares to restricted units | -12,146 | 0 | 0 |
Restricted Units, Ending Balance | 623,948 | 471,256 | 285,034 |
Weighted Average Fair Value per Restricted Unit, Beginning Balance | $55.67 | $48.41 | $34.80 |
Weighted Average Fair Value per Restricted Unit, Awards granted | $53.82 | $52.73 | $57.24 |
Weighted Average Fair Value per Restricted Unit, Awards exercised/vested | $53.71 | $32.97 | $21.11 |
Weighted Average Fair Value per Restricted Unit, Awards forfeited | $52.08 | $56.72 | $0 |
Weighted Average Fair Value per Restricted Unit, Awards Expired | $0 | $0 | $0 |
Weighted Average Fair Value per Restricted Unit, Ending Balance | $53.38 | $55.67 | $48.41 |
Weighted average grant date fair value for Options | $9.12 | $7.90 | $8.54 |
Intrinsic value of options exercised | $50.80 | $16.70 | $46.70 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | 10.2 | 13.9 | 18 |
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 | $9.21 | $7.97 | $8.55 |
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 | $3.20 | $5.10 | $9.10 |
Restricted Stock Units (RSUs) [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||
Conversion of restricted shares to restricted units | 12,146 |
Share_Incentive_Plans_Details_1
Share Incentive Plans (Details 2) (USD $) | 12 Months Ended |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 |
Information regarding options outstanding and exercisable | |
Options Outstanding, Options | 7,030,620 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | 5 years 6 months 24 days |
Options Outstanding, Weighted Average Exercise Price | $46.16 |
Options Exercisable, Options | 5,011,784 |
Options Exercisable, Weighted Average Exercise Price | $42.18 |
Options, Vested and expected to vest | 6,590,486 |
Options, Weighted Average Remaining Contractual Life in Years | 5 years 4 months 2 days |
Options, Weighted Average Exercise Price | $45.50 |
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 Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $180.50 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $148.70 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 4 years 7 months 5 days |
Market value of common shares | $71.84 |
Exercise Price Range One [Member] | |
Information regarding options outstanding and exercisable | |
Options Outstanding, Options | 988,826 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | 4 years 1 month 2 days |
Options Outstanding, Weighted Average Exercise Price | $23.07 |
Options Exercisable, Options | 988,826 |
Options Exercisable, Weighted Average Exercise Price | $23.07 |
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 |
Exercise Price Range Two [Member] | |
Information regarding options outstanding and exercisable | |
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 |
Exercise Price Range Three [Member] | |
Information regarding options outstanding and exercisable | |
Options Outstanding, Options | 1,091,358 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | 3 years 7 months 11 days |
Options Outstanding, Weighted Average Exercise Price | $32.61 |
Options Exercisable, Options | 1,091,358 |
Options Exercisable, Weighted Average Exercise Price | $32.61 |
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 |
Exercise Price Range Four [Member] | |
Information regarding options outstanding and exercisable | |
Options Outstanding, Options | 702,568 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | 2 years 4 months 10 days |
Options Outstanding, Weighted Average Exercise Price | $40.12 |
Options Exercisable, Options | 702,568 |
Options Exercisable, Weighted Average Exercise Price | $40.12 |
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 |
Exercise Price Range Five [Member] | |
Information regarding options outstanding and exercisable | |
Options Outstanding, Options | 24,628 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | 5 years 9 months 29 days |
Options Outstanding, Weighted Average Exercise Price | $48.63 |
Options Exercisable, Options | 24,628 |
Options Exercisable, Weighted Average Exercise Price | $48.63 |
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 |
Exercise Price Range Six [Member] | |
Information regarding options outstanding and exercisable | |
Options Outstanding, Options | 2,343,836 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | 6 years 2 months 15 days |
Options Outstanding, Weighted Average Exercise Price | $53.93 |
Options Exercisable, Options | 1,387,110 |
Options Exercisable, Weighted Average Exercise Price | $53.85 |
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 |
Exercise Price Range Seven [Member] | |
Information regarding options outstanding and exercisable | |
Options Outstanding, Options | 1,879,404 |
Options Outstanding, Weighted Average Remaining Contractual Life in Years | 7 years 10 months 13 days |
Options Outstanding, Weighted Average Exercise Price | $58.72 |
Options Exercisable, Options | 817,294 |
Options Exercisable, Weighted Average Exercise Price | $59.84 |
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_Incentive_Plans_Details_2
Share Incentive Plans (Details Textuals) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 12,980,741 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 8,516,934 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $13.50 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 3 months 21 days | ||
Share Incentive Plans (Textuals) [Abstract] | |||
Options Exercisable | 6,046,489 | 5,385,907 | |
Weighted Average Exercise Price of Options Exercisable | $38.76 | $35.40 |
Employee_Plans_Details
Employee Plans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Summary of information regarding the Common Shares issued under the ESPP | |||
Shares issued | 68,807 | 73,468 | 110,054 |
Employee Share Purchase Plan Issuance Price Minimum | $45.90 | $44.26 | $46.33 |
Employee Share Purchase Plan Issuance Price Maximum | $55.95 | $48.17 | $51.78 |
Issuance proceeds | $3,392,000 | $3,401,000 | $5,399,000 |
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 | 3,038,534 | ||
Purchase price of common stock | 85.00% | ||
Minimum eligible compensation percentage for the defined contribution plan (the "401(k) Plan") | 4.00% | 3.00% | |
Defined contribution plan vesting period | 5 | ||
Defined contribution plan, compensation expense | $5,200,000 | $4,200,000 | $4,400,000 |
Distribution_Reinvestment_and_1
Distribution Reinvestment and Share Purchase Plan (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Common Shares registered with Distribution Reinvestment and Share Purchase Plan (2011 DRIP) | 4,850,000 |
Number of shares available for issuance | 4,786,788 |
Distribution Reinvestment Plan 2014 [Member] | |
Stock Issued During Period, Shares, Dividend Reinvestment Plan | 4,790,000 |
Number of shares available for issuance | 4,790,000 |
Transactions_With_Related_Part1
Transactions With Related Parties (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Related Party Transaction [Line Items] | |||
Indirect Ownership Interest Percentage | 1.00% | ||
Amount Incurred For leased office space | $2.50 | $1.70 | $1.30 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
300 properties designed and built in violation of accessibility requirements | 300 | ||
Projects in various stages of development | 15 | ||
Units in various stages of development | 4,917 | ||
Consolidated Project Under Development Commitment Fund | $1,200,000,000 | ||
Various stages of development with estimated completion dates ranging through June 30, 2016 | 30-Sep-17 | ||
Number Of Unconsolidated Projects | 1 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 498,640,000 | 108,000,000 | |
Investment in Joint Venture | 336,900,000 | ||
Noncontrolling Interests - Partially Owned Properties | 124,909,000 | 126,583,000 | |
Number Of Operating Properties Under Long Term Ground Leases | 13 | ||
Total operating lease payments | 14,700,000 | 13,200,000 | 8,100,000 |
Compensation expense, Recognized | 500,000 | 500,000 | 1,000,000 |
Number Of Operating Properties and Land Parcels Under Long Term Ground Leases | 14 | ||
Operating Leases: | |||
Minimum Rent Payments Due, Year 1 | -15,268,000 | ||
Minimum Rent Payments Due, Year 2 | -15,385,000 | ||
Minimum Rent Payments Due, Year 3 | -15,318,000 | ||
Minimum Rent Payments Due, Year 4 | -15,298,000 | ||
Minimum Rent Payments Due, Year 5 | -15,224,000 | ||
Minimum Rent Payments Due, Thereafter | -860,071,000 | ||
Minimum Rent Payments Due, Total | -936,564,000 | ||
Other Long-Term Liabilities: | |||
Deferred Compensation Due, Year 1 | -1,382,000 | ||
Deferred Compensation Due, Year 2 | -1,714,000 | ||
Deferred Compensation Due, Year 3 | -1,714,000 | ||
Deferred Compensation Due, Year 4 | -1,714,000 | ||
Deferred Compensation Due, Year 5 | -1,120,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter | -5,149,000 | ||
Deferred Compensation Due, Total | -12,793,000 | ||
Loss Contingency Accrual, Period Increase (Decrease) | 4,000,000 | ||
Loss Contingency Accrual | 6,000,000 | ||
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 | 117,400,000 | ||
531190 Lessors of Other Real Estate Property [Member] | |||
Operating Leases: | |||
Minimum Rent Payments Due, Year 1 | -65,087,000 | ||
Minimum Rent Payments Due, Year 2 | -58,860,000 | ||
Minimum Rent Payments Due, Year 3 | -53,448,000 | ||
Minimum Rent Payments Due, Year 4 | -43,987,000 | ||
Minimum Rent Payments Due, Year 5 | -37,545,000 | ||
Minimum Rent Payments Due, Thereafter | -192,455,000 | ||
Minimum Rent Payments Due, Total | ($451,382,000) |
Reportable_Segments_Details
Reportable Segments (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Rental income: | |||
Same store | $2,475,933 | $2,374,350 | $1,693,239 |
Segment Reporting Segment Non Same Store Rental Income | 129,378 | 96,077 | 44,690 |
Segment Reporting Information Revenues | 2,605,311 | 2,378,004 | 1,737,929 |
Operating expenses: | |||
Same store | 830,697 | 815,865 | 587,037 |
Non-same store/other | 47,438 | 48,632 | 33,807 |
Segment Reporting Segment Operating Expenses | 878,135 | 827,768 | 620,844 |
NOI: | |||
Same store | 1,645,236 | 1,558,485 | 1,106,202 |
Non-same store/other | 81,940 | 47,445 | 10,883 |
Total NOI | 1,727,176 | 1,550,236 | 1,117,085 |
Assets | 22,950,614 | 22,834,545 | |
Payments to Acquire Other Property, Plant, and Equipment | 185,957 | 135,816 | |
Reportable Segments (Textuals) [Abstract] | |||
Units in same store properties | 97,911 | 80,247 | |
Rental income | 2,605,311 | 2,378,004 | 1,737,929 |
Property and maintenance expense | -473,098 | -449,427 | -332,219 |
Real estate taxes and insurance expense | -325,401 | -293,999 | -206,723 |
Property management expense | -79,636 | -84,342 | -81,902 |
Total operating expenses | -878,135 | -827,768 | -620,844 |
Archstone [Member] | |||
Reportable Segments (Textuals) [Abstract] | |||
Units in same store properties | 18,465 | ||
Same Store [Domain] | |||
NOI: | |||
Assets | 19,520,222 | 20,099,805 | |
Payments to Acquire Other Property, Plant, and Equipment | 179,033 | 126,948 | |
Non-same store [Domain] | |||
NOI: | |||
Assets | 3,430,392 | 2,734,740 | |
Payments to Acquire Other Property, Plant, and Equipment | 6,924 | 8,868 | |
Boston [Domain] | |||
Rental income: | |||
Same store | 253,032 | 244,370 | 168,063 |
Segment Reporting Segment Non Same Store Rental Income | 3,635 | 2,728 | 0 |
Operating expenses: | |||
Same store | 80,680 | 78,249 | 54,888 |
Non-same store/other | 848 | 651 | 0 |
NOI: | |||
Same store | 172,352 | 166,121 | 113,175 |
Non-same store/other | 2,787 | 2,077 | 0 |
Boston [Domain] | Same Store [Domain] | |||
NOI: | |||
Assets | 1,923,540 | 1,984,745 | |
Payments to Acquire Other Property, Plant, and Equipment | 19,575 | 17,625 | |
Boston [Domain] | Non-same store [Domain] | |||
NOI: | |||
Assets | 48,323 | 49,372 | |
Payments to Acquire Other Property, Plant, and Equipment | 699 | 102 | |
Denver [Domain] | |||
Rental income: | |||
Same store | 111,190 | 103,124 | 93,571 |
Segment Reporting Segment Non Same Store Rental Income | 1,325 | ||
Operating expenses: | |||
Same store | 30,812 | 30,567 | 28,204 |
Non-same store/other | 429 | ||
NOI: | |||
Same store | 80,378 | 72,557 | 65,367 |
Non-same store/other | 896 | ||
Denver [Domain] | Same Store [Domain] | |||
NOI: | |||
Assets | 520,537 | 541,480 | |
Payments to Acquire Other Property, Plant, and Equipment | 5,863 | 5,384 | |
New York Domain] | |||
Rental income: | |||
Same store | 455,598 | 438,366 | 274,683 |
Segment Reporting Segment Non Same Store Rental Income | 14,611 | ||
Operating expenses: | |||
Same store | 171,336 | 165,329 | 109,667 |
Non-same store/other | 5,988 | ||
NOI: | |||
Same store | 284,262 | 273,037 | 165,016 |
Non-same store/other | 8,623 | ||
New York Domain] | Same Store [Domain] | |||
NOI: | |||
Assets | 4,647,269 | 4,771,001 | |
Payments to Acquire Other Property, Plant, and Equipment | 22,118 | 12,006 | |
San Francisco [Domain] | |||
Rental income: | |||
Same store | 340,251 | 312,345 | 159,535 |
Segment Reporting Segment Non Same Store Rental Income | 7,268 | ||
Operating expenses: | |||
Same store | 106,424 | 108,218 | 57,373 |
Non-same store/other | 3,022 | ||
NOI: | |||
Same store | 233,827 | 204,127 | 102,162 |
Non-same store/other | 4,246 | ||
San Francisco [Domain] | Same Store [Domain] | |||
NOI: | |||
Assets | 2,718,174 | 2,793,390 | |
Payments to Acquire Other Property, Plant, and Equipment | 26,995 | 21,756 | |
Seattle [Domain] | |||
Rental income: | |||
Same store | 156,714 | 146,109 | 122,267 |
Segment Reporting Segment Non Same Store Rental Income | 13,507 | 4,387 | 4,747 |
Operating expenses: | |||
Same store | 51,293 | 49,169 | 41,041 |
Non-same store/other | 4,421 | 1,336 | 1,510 |
NOI: | |||
Same store | 105,421 | 96,940 | 81,226 |
Non-same store/other | 9,086 | 3,051 | 3,237 |
Seattle [Domain] | Same Store [Domain] | |||
NOI: | |||
Assets | 1,032,140 | 1,061,118 | |
Payments to Acquire Other Property, Plant, and Equipment | 14,570 | 7,940 | |
Seattle [Domain] | Non-same store [Domain] | |||
NOI: | |||
Assets | 318,488 | 182,745 | |
Payments to Acquire Other Property, Plant, and Equipment | 1,115 | 55 | |
South Florida [Domain] | |||
Rental income: | |||
Same store | 191,729 | 182,620 | 177,675 |
Segment Reporting Segment Non Same Store Rental Income | 5,475 | 390 | 0 |
Operating expenses: | |||
Same store | 70,296 | 69,475 | 67,811 |
Non-same store/other | 2,743 | 810 | 0 |
NOI: | |||
Same store | 121,433 | 113,145 | 109,864 |
Non-same store/other | 2,732 | -420 | 0 |
South Florida [Domain] | Same Store [Domain] | |||
NOI: | |||
Assets | 1,135,552 | 1,170,931 | |
Payments to Acquire Other Property, Plant, and Equipment | 14,335 | 14,351 | |
South Florida [Domain] | Non-same store [Domain] | |||
NOI: | |||
Assets | 67,833 | 68,987 | |
Payments to Acquire Other Property, Plant, and Equipment | 8 | 1 | |
Southern California [Domain] | |||
Rental income: | |||
Same store | 420,565 | 401,516 | 320,749 |
Segment Reporting Segment Non Same Store Rental Income | 43,118 | 15,016 | 3,040 |
Operating expenses: | |||
Same store | 138,605 | 137,667 | 103,925 |
Non-same store/other | 17,755 | 6,846 | 1,179 |
NOI: | |||
Same store | 281,960 | 263,849 | 216,824 |
Non-same store/other | 25,363 | 8,170 | 1,861 |
Southern California [Domain] | Same Store [Domain] | |||
NOI: | |||
Assets | 2,910,934 | 3,010,786 | |
Payments to Acquire Other Property, Plant, and Equipment | 26,975 | 19,852 | |
Southern California [Domain] | Non-same store [Domain] | |||
NOI: | |||
Assets | 747,438 | 411,302 | |
Payments to Acquire Other Property, Plant, and Equipment | 1,780 | 648 | |
Washington DC [Domain] | |||
Rental income: | |||
Same store | 446,122 | 448,520 | 247,880 |
Segment Reporting Segment Non Same Store Rental Income | 24,193 | 13,562 | 13,124 |
Operating expenses: | |||
Same store | 143,800 | 140,708 | 75,580 |
Non-same store/other | 7,936 | 4,086 | 3,984 |
NOI: | |||
Same store | 302,322 | 307,812 | 172,300 |
Non-same store/other | 16,257 | 9,476 | 9,140 |
Washington DC [Domain] | Same Store [Domain] | |||
NOI: | |||
Assets | 4,223,590 | 4,339,246 | |
Payments to Acquire Other Property, Plant, and Equipment | 42,927 | 24,506 | |
Washington DC [Domain] | Non-same store [Domain] | |||
NOI: | |||
Assets | 301,902 | 301,623 | |
Payments to Acquire Other Property, Plant, and Equipment | 2,147 | 439 | |
Non-Core [Domain] | |||
Rental income: | |||
Same store | 100,732 | 97,380 | 128,816 |
Operating expenses: | |||
Same store | 37,451 | 36,483 | 48,548 |
NOI: | |||
Same store | 63,281 | 60,897 | 80,268 |
Non-Core [Domain] | Same Store [Domain] | |||
NOI: | |||
Assets | 408,486 | 427,108 | |
Payments to Acquire Other Property, Plant, and Equipment | 5,675 | 3,528 | |
Other [Domain] | |||
Rental income: | |||
Segment Reporting Segment Non Same Store Rental Income | 39,450 | 59,994 | 575 |
Operating expenses: | |||
Non-same store/other | 13,735 | 34,903 | 17,695 |
NOI: | |||
Non-same store/other | 25,715 | 25,091 | -17,120 |
Other [Domain] | Non-same store [Domain] | |||
NOI: | |||
Assets | 1,946,408 | 1,720,711 | |
Payments to Acquire Other Property, Plant, and Equipment | 1,175 | 7,623 | |
Archstone pre-ownership [Member] | |||
Rental income: | |||
Same store | -92,423 | ||
Operating expenses: | |||
Same store | -36,729 | ||
NOI: | |||
Same store | ($55,694) |
Subsequent_EventsOther_Details
Subsequent Events/Other (Details) (USD $) | 3 Months Ended | 12 Months Ended | 36 Months Ended | 2 Months Ended | ||||||
Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Feb. 20, 2015 | Jan. 02, 2015 | Feb. 02, 2015 | |
Subsequent Events/Other (Textuals) [Abstract] | ||||||||||
Disposed Properties | 11 | 94 | ||||||||
Disposed Units | 3,480 | 29,180 | ||||||||
Proceeds From Sale Of Property | $592,070,000 | $4,616,073,000 | ||||||||
Repayments of Long-term Debt | 100,700,000 | |||||||||
Premium on redemption of Preference Units | 0 | 0 | 5,152,000 | |||||||
Business Combination, Acquisition Related Costs | 400,000 | 300,000 | 7,000,000 | |||||||
Noncash Project Abandonment Costs | 3,607,000 | 5,184,000 | 9,056,000 | |||||||
Other Expenses | 4,000,000 | 5,500,000 | 16,000,000 | |||||||
Litigation Settlement, Amount | 2,800,000 | |||||||||
(Gains) on Sale of Securities, Net | 0 | -2,122,000 | 0 | |||||||
Litigation Settlement, Expense | 4,200,000 | |||||||||
BreakUpFee | 80,000,000 | 70,000,000 | 150,000,000 | |||||||
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 | ||||||||
Discontinued Operation Corporate Housing Business Gain Loss On Disposal Of Discontinued Operation Net Of Tax | 2,900,000 | |||||||||
Subsequent Event [Member] | ||||||||||
Subsequent Events/Other (Textuals) [Abstract] | ||||||||||
Disposed Properties | 3 | |||||||||
Disposed Units | 550 | |||||||||
Proceeds From Sale Of Property | 145,400,000 | |||||||||
Repayments of Long-term Debt | 61,500,000 | |||||||||
Series K Preferred Stock [Member] | Subsequent Event [Member] | ||||||||||
Subsequent Events/Other (Textuals) [Abstract] | ||||||||||
Preferred Stock Preference Units Repurchased and Retired | 196,400 | |||||||||
Treasury Stock, Value, Acquired, Par Value Method | 9,820,000 | |||||||||
Payments For Repurchase Of Preference Units | 12,700,000 | |||||||||
Premium on redemption of Preference Units | 2,800,000 | |||||||||
Forward Starting Swaps [Member] | ||||||||||
Subsequent Events/Other (Textuals) [Abstract] | ||||||||||
Notional Amount Of Hedge Instruments | 400,000,000 | |||||||||
Forward Starting Swaps [Member] | Subsequent Event [Member] | ||||||||||
Subsequent Events/Other (Textuals) [Abstract] | ||||||||||
Notional Amount Of Hedge Instruments | 50,000,000 | |||||||||
Commercial Paper [Member] | Subsequent Event [Member] | ||||||||||
Subsequent Events/Other (Textuals) [Abstract] | ||||||||||
Debt Instrument, Unused Borrowing Capacity, Amount | $500,000,000 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Details) (USD $) | 12 Months Ended | 3 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 |
Unaudited Quarterly Financial Data [Line Items] | |||||||||||
Operating income | $921,375 | $512,322 | $514,093 | ||||||||
Income (loss) from continuing operations | 657,101 | -168,174 | 160,298 | ||||||||
Discontinued operations, net | 1,582 | 2,073,527 | 720,906 | ||||||||
Net income | 658,683 | 1,905,353 | 881,204 | ||||||||
Earnings Per Share, Basic [Abstract] | |||||||||||
Net income available to Common Shares | $1.74 | $5.16 | $2.73 | ||||||||
Weighted average Common Shares outstanding | 361,181 | 354,305 | 302,701 | ||||||||
Earnings Per Share, Diluted [Abstract] | |||||||||||
Net income available to Common Shares | $1.73 | $5.16 | $2.71 | ||||||||
Weighted Average Number of Shares Outstanding, Diluted | 377,735 | 354,305 | 319,766 | ||||||||
Scenario, Previously Reported [Member] | |||||||||||
Unaudited Quarterly Financial Data [Line Items] | |||||||||||
Total revenues | 664,660 | 664,078 | 652,568 | 633,442 | 639,134 | 626,629 | 617,217 | 504,722 | |||
Operating income | 250,532 | 243,274 | 228,310 | 199,259 | 223,677 | 120,405 | 63,986 | 104,254 | |||
Income (loss) from continuing operations | 226,959 | 231,252 | 117,210 | 81,680 | 69,141 | -13,465 | -58,511 | -165,339 | |||
Discontinued operations, net | 82 | -62 | 510 | 1,052 | 46,729 | 405,182 | 395,243 | 1,226,373 | |||
Net income | 227,041 | 231,190 | 117,720 | 82,732 | 115,870 | 391,717 | 336,732 | 1,061,034 | |||
Net income available to Common Shares | 216,703 | 220,707 | 111,654 | 78,099 | 109,940 | 376,155 | 323,723 | 1,016,650 | |||
Earnings Per Share, Basic [Abstract] | |||||||||||
Net income available to Common Shares | $0.60 | $0.61 | $0.31 | $0.22 | $0.31 | $1.05 | $0.90 | $3.01 | |||
Weighted average Common Shares outstanding | 362,018 | 361,409 | 360,809 | 360,470 | 359,919 | 359,811 | 359,653 | 337,532 | |||
Earnings Per Share, Diluted [Abstract] | |||||||||||
Net income available to Common Shares | $0.59 | $0.61 | $0.31 | $0.22 | $0.30 | $1.05 | $0.90 | $3.01 | |||
Weighted Average Number of Shares Outstanding, Diluted | 378,886 | 377,954 | 377,118 | 376,384 | 375,860 | 359,811 | 359,653 | 337,532 | |||
Operating Partnership [Member] | Scenario, Previously Reported [Member] | |||||||||||
Unaudited Quarterly Financial Data [Line Items] | |||||||||||
Total revenues | 664,660 | 664,078 | 652,568 | 633,442 | 639,134 | 626,629 | 617,217 | 504,722 | |||
Operating income | 250,532 | 243,274 | 228,310 | 199,259 | 223,677 | 120,405 | 63,986 | 104,254 | |||
Income (loss) from continuing operations | 226,959 | 231,252 | 117,210 | 81,680 | 69,141 | -13,465 | -58,511 | -165,339 | |||
Discontinued operations, net | 82 | -62 | 510 | 1,052 | 46,729 | 405,182 | 395,243 | 1,226,373 | |||
Net income | 227,041 | 231,190 | 117,720 | 82,732 | 115,870 | 391,717 | 336,732 | 1,061,034 | |||
Net income available to Units | $225,261 | $229,445 | $116,096 | $81,192 | $114,271 | $390,991 | $336,511 | $1,059,973 | |||
Earnings Per Share, Basic [Abstract] | |||||||||||
Net income available to Common Shares | $0.60 | $0.61 | $0.31 | $0.22 | $0.31 | $1.05 | $0.90 | $3.01 | |||
Weighted average Units outstanding | 375,711 | 375,116 | 374,551 | 374,201 | 373,643 | 373,547 | 373,403 | 351,255 | |||
Earnings Per Share, Diluted [Abstract] | |||||||||||
Net income available to Common Shares | $0.59 | $0.61 | $0.31 | $0.22 | $0.30 | $1.05 | $0.90 | $3.01 | |||
Weighted average Units outstanding | 378,886 | 377,954 | 377,118 | 376,384 | 375,860 | 373,547 | 373,403 | 351,255 |
Real_Estate_and_Accumulated_De1
Real Estate and Accumulated Depreciation - Overall Summary and Encumbrances Reconciliation (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Overall summary of real estate and accumulated depreciation | |||
Accumulated Depreciation | ($5,432,805,000) | ($4,807,709,000) | ($4,912,221,000) |
Real Estate and Accumulated Depreciation Encumbrances Reconciliation [Abstract] | |||
Number of Properties Encumbered | 35 | ||
Changes in total real estate | |||
Balance, beginning of year | 26,800,948,000 | 21,008,429,000 | 20,407,946,000 |
Acquisitions and development | 1,121,423,000 | 9,273,492,000 | 1,250,633,000 |
Improvements | 191,243,000 | 139,950,000 | 161,460,000 |
Dispositions and other | -438,231,000 | -3,620,923,000 | -811,610,000 |
Balance, end of year | 27,675,383,000 | 26,800,948,000 | 21,008,429,000 |
Changes in accumulated depreciation | |||
Balance, beginning of year | -4,807,709,000 | -4,912,221,000 | -4,539,583,000 |
Depreciation | 758,861,000 | 1,013,353,000 | 684,992,000 |
Dispositions and other | -133,765,000 | -1,117,865,000 | -312,354,000 |
Balance, end of year | -5,432,805,000 | -4,807,709,000 | -4,912,221,000 |
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 | 5 | ||
EQR-Fanwell 2007 LP [Member] | Partially Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 0 | ||
EQR-Fanwell 2007 LP [Member] | Wholly Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 300,000,000 | ||
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 | 12 | ||
EQR-Wellfan 2008 LP [Member] | Partially Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 0 | ||
EQR-Wellfan 2008 LP [Member] | Wholly Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 550,000,000 | ||
Fannie Mae Pool 3 [Domain] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 474,179,543 | ||
Real Estate and Accumulated Depreciation Encumbrances Reconciliation [Abstract] | |||
Number of Properties Encumbered | 5 | ||
Fannie Mae Pool 3 [Domain] | Partially Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 24,840,581 | ||
Fannie Mae Pool 3 [Domain] | Wholly Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 449,338,962 | ||
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 | ||
Archstone Master Property [Domain] | Partially Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 0 | ||
Archstone Master Property [Domain] | Wholly Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 800,000,000 | ||
Individual Property Encumbrances [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 2,962,335,468 | ||
Individual Property Encumbrances [Member] | Partially Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 335,638,681 | ||
Individual Property Encumbrances [Member] | Wholly Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 2,626,696,787 | ||
EQR-Wholly Owned Unencumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Properties | 263 | ||
Units | 69,217 | ||
Investment in Real Estate, Gross | 18,538,492,146 | ||
Accumulated Depreciation | -3,650,524,741 | ||
Investment in Real Estate Net | 14,887,967,405 | ||
Encumbrances | 0 | ||
Changes in accumulated depreciation | |||
Balance, end of year | -3,650,524,741 | ||
EQR-Wholly Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Properties | 104 | ||
Units | 29,923 | ||
Investment in Real Estate, Gross | 8,113,776,123 | ||
Accumulated Depreciation | -1,587,799,207 | ||
Investment in Real Estate Net | 6,525,976,916 | ||
Encumbrances | 4,726,035,749 | ||
Changes in accumulated depreciation | |||
Balance, end of year | -1,587,799,207 | ||
Wholly Owned Properties [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Properties | 367 | ||
Units | 99,140 | ||
Investment in Real Estate, Gross | 26,652,268,269 | ||
Accumulated Depreciation | -5,238,323,948 | ||
Investment in Real Estate Net | 21,413,944,321 | ||
Encumbrances | 4,726,035,749 | ||
Changes in accumulated depreciation | |||
Balance, end of year | -5,238,323,948 | ||
EQR-Partially Owned Unencumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Properties | 8 | ||
Units | 1,505 | ||
Investment in Real Estate, Gross | 575,092,221 | ||
Accumulated Depreciation | -77,534,358 | ||
Investment in Real Estate Net | 497,557,863 | ||
Encumbrances | 0 | ||
Changes in accumulated depreciation | |||
Balance, end of year | -77,534,358 | ||
EQR-Partially Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Properties | 11 | ||
Units | 2,266 | ||
Investment in Real Estate, Gross | 448,022,434 | ||
Accumulated Depreciation | -116,947,029 | ||
Investment in Real Estate Net | 331,075,405 | ||
Encumbrances | 360,479,262 | ||
Changes in accumulated depreciation | |||
Balance, end of year | -116,947,029 | ||
Partially Owned Properties [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Properties | 19 | ||
Units | 3,771 | ||
Investment in Real Estate, Gross | 1,023,114,655 | ||
Accumulated Depreciation | -194,481,387 | ||
Investment in Real Estate Net | 828,633,268 | ||
Encumbrances | 360,479,262 | ||
Changes in accumulated depreciation | |||
Balance, end of year | -194,481,387 | ||
Unencumbered Properties [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Properties | 271 | ||
Units | 70,722 | ||
Investment in Real Estate, Gross | 19,113,584,367 | ||
Accumulated Depreciation | -3,728,059,099 | ||
Investment in Real Estate Net | 15,385,525,268 | ||
Encumbrances | 0 | ||
Changes in accumulated depreciation | |||
Balance, end of year | -3,728,059,099 | ||
Encumbered Properties [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Properties | 115 | ||
Units | 32,189 | ||
Investment in Real Estate, Gross | 8,561,798,557 | ||
Accumulated Depreciation | -1,704,746,236 | ||
Investment in Real Estate Net | 6,857,052,321 | ||
Encumbrances | 5,086,515,011 | ||
Changes in accumulated depreciation | |||
Balance, end of year | -1,704,746,236 | ||
Total Consolidated Investment in Real Estate [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Properties | 386 | ||
Units | 102,911 | ||
Investment in Real Estate, Gross | 27,675,382,924 | ||
Accumulated Depreciation | -5,432,805,335 | ||
Investment in Real Estate Net | 22,242,577,589 | ||
Encumbrances | 5,086,515,011 | ||
Changes in accumulated depreciation | |||
Balance, end of year | -5,432,805,335 | ||
Total Consolidated Investment in Real Estate [Member] | Partially Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 360,479,262 | ||
Total Consolidated Investment in Real Estate [Member] | Wholly Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 4,726,035,749 | ||
Portfolio Entity Encumbrances [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 2,124,179,543 | ||
Portfolio Entity Encumbrances [Member] | Partially Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | 24,840,581 | ||
Portfolio Entity Encumbrances [Member] | Wholly Owned Encumbered [Member] | |||
Overall summary of real estate and accumulated depreciation | |||
Encumbrances | $2,099,338,962 |
Real_Estate_and_Accumulated_De2
Real Estate and Accumulated Depreciation (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Fixtures and Equipment, Gross | $1,365,276,000 | $1,214,220,000 | |||
Land And Depreciable Property Net | 16,700,000,000 | 15,200,000,000 | |||
Real Estates And Accumulated Depreciation Abstract | |||||
Accumulated Depreciation | -5,432,805,000 | -4,807,709,000 | -4,912,221,000 | -4,539,583,000 | |
Partially Owned Unconsolidated Properties | 3 | ||||
Number Of Unconsolidated Projects | 1 | ||||
Partially Owned Unconsolidated Units | 1,281 | ||||
Military Housing Properties | 2 | ||||
Military Housing Units | 5,033 | ||||
100 K Street [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 15,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,949,701 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 1,949,701 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 17,549,701 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 17,549,701 | ||||
Encumbrances | 0 | ||||
1111 Belle Pre (fka The Madison) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Alexandria, VA | ||||
Real Estate And Accumulated Depreciation Units | 360 | ||||
Initial Cost to Company, Land | 18,937,702 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 92,495,595 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 17,838 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 18,937,702 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 92,513,433 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 111,451,135 | ||||
Accumulated Depreciation | -3,422,538 | ||||
Investment in Real Estate Net | 108,028,597 | ||||
Encumbrances | 0 | ||||
1210 Mass [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 144 | ||||
Initial Cost to Company, Land | 9,213,512 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,559,189 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 610,534 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,213,512 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 37,169,723 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 46,383,235 | ||||
Accumulated Depreciation | -12,689,430 | ||||
Investment in Real Estate Net | 33,693,805 | ||||
Encumbrances | 0 | ||||
1401 E Madison [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 10,322,187 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,019,404 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,322,187 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 1,019,404 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 11,341,591 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 11,341,591 | ||||
Encumbrances | 0 | ||||
1500 Mass Ave [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 556 | ||||
Initial Cost to Company, Land | 54,638,298 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,361,702 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 13,296,439 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 54,638,298 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 53,658,141 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 108,296,439 | ||||
Accumulated Depreciation | -14,670,887 | ||||
Investment in Real Estate Net | 93,625,552 | ||||
Encumbrances | 0 | ||||
170 Amsterdam [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 97,371,663 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 97,371,663 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 97,371,663 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 97,371,663 | ||||
Encumbrances | 0 | ||||
175 Kent [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Brooklyn, NY | ||||
Real Estate And Accumulated Depreciation Units | 113 | ||||
Initial Cost to Company, Land | 22,037,831 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 53,962,169 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,072,648 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 22,037,831 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 55,034,817 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 77,072,648 | ||||
Accumulated Depreciation | -8,337,345 | ||||
Investment in Real Estate Net | 68,735,303 | ||||
Encumbrances | 0 | ||||
180 Montague (fka Brooklyn Heights) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Brooklyn, NY | ||||
Real Estate And Accumulated Depreciation Units | 193 | ||||
Initial Cost to Company, Land | 32,400,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 92,675,228 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 946,790 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 32,400,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 93,622,018 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 126,022,018 | ||||
Accumulated Depreciation | -10,067,159 | ||||
Investment in Real Estate Net | 115,954,859 | ||||
Encumbrances | 0 | ||||
1800 Oak (fka Rosslyn) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 314 | ||||
Initial Cost to Company, Land | 31,400,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 109,005,734 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,424,829 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 31,400,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 110,430,563 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 141,830,563 | ||||
Accumulated Depreciation | -11,550,245 | ||||
Investment in Real Estate Net | 130,280,318 | ||||
Encumbrances | 0 | ||||
200 N Lemon Street [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Anaheim, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 5,865,235 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,802,003 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,865,235 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 2,802,003 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 8,667,238 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 8,667,238 | ||||
Encumbrances | 0 | ||||
204-206 Pine Street/1610 2nd Avenue [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 22,106,465 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,015,203 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 22,106,465 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,015,203 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 40,121,668 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 40,121,668 | ||||
Encumbrances | 0 | ||||
2201 Pershing Drive [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 188 | ||||
Initial Cost to Company, Land | 11,321,198 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 49,316,482 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,018,023 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 11,321,198 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 51,334,505 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 62,655,703 | ||||
Accumulated Depreciation | -4,704,104 | ||||
Investment in Real Estate Net | 57,951,599 | ||||
Encumbrances | 0 | ||||
2201 Wilson [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 219 | ||||
Initial Cost to Company, Land | 21,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 78,724,663 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,155,814 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 21,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 79,880,477 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 101,780,477 | ||||
Accumulated Depreciation | -8,243,035 | ||||
Investment in Real Estate Net | 93,537,442 | ||||
Encumbrances | 0 | ||||
2400 M St [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 359 | ||||
Initial Cost to Company, Land | 30,006,593 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 114,013,785 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,170,237 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 30,006,593 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 117,184,022 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 147,190,615 | ||||
Accumulated Depreciation | -37,361,925 | ||||
Investment in Real Estate Net | 109,828,690 | ||||
Encumbrances | 0 | ||||
340 Fremont [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Francisco, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 42,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 64,972,143 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 42,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 64,972,143 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 106,972,143 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 106,972,143 | ||||
Encumbrances | 0 | ||||
420 East 80th Street [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 155 | ||||
Initial Cost to Company, Land | 39,277,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,026,984 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,746,938 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 39,277,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 26,773,922 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 66,050,922 | ||||
Accumulated Depreciation | -10,547,486 | ||||
Investment in Real Estate Net | 55,503,436 | ||||
Encumbrances | 0 | ||||
425 Mass [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 559 | ||||
Initial Cost to Company, Land | 28,150,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 138,600,000 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,341,423 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 28,150,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 141,941,423 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 170,091,423 | ||||
Accumulated Depreciation | -29,744,846 | ||||
Investment in Real Estate Net | 140,346,577 | ||||
Encumbrances | 0 | ||||
443 - 459 Eye Street [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 12,671,446 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,660,628 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,671,446 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 7,660,628 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 20,332,074 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 20,332,074 | ||||
Encumbrances | 0 | ||||
4885 Edgemoor Lane [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bethesda, MD | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 520,879 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 520,879 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 520,879 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 520,879 | ||||
Encumbrances | 0 | ||||
4th and Hill [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 13,131,456 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,242,358 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,131,456 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 1,242,358 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 14,373,814 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 14,373,814 | ||||
Encumbrances | 0 | ||||
600 Washington [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 135 | ||||
Initial Cost to Company, Land | 32,852,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 43,140,551 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 394,984 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 32,852,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 43,535,535 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 76,387,535 | ||||
Accumulated Depreciation | -15,049,427 | ||||
Investment in Real Estate Net | 61,338,108 | ||||
Encumbrances | 0 | ||||
660 Washington (fka Boston Common) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boston, MA | ||||
Real Estate And Accumulated Depreciation Units | 420 | ||||
Initial Cost to Company, Land | 106,100,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 166,311,679 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 785,303 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 106,100,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 167,096,982 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 273,196,982 | ||||
Accumulated Depreciation | -18,440,877 | ||||
Investment in Real Estate Net | 254,756,105 | ||||
Encumbrances | 0 | ||||
70 Greene [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Jersey City, NJ | ||||
Real Estate And Accumulated Depreciation Units | 480 | ||||
Initial Cost to Company, Land | 28,108,899 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 236,941,402 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 648,362 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 28,108,899 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 237,589,764 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 265,698,663 | ||||
Accumulated Depreciation | -41,945,093 | ||||
Investment in Real Estate Net | 223,753,570 | ||||
Encumbrances | 0 | ||||
71 Broadway [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 238 | ||||
Initial Cost to Company, Land | 22,611,600 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 77,492,171 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 11,705,700 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 22,611,600 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 89,197,871 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 111,809,471 | ||||
Accumulated Depreciation | -32,081,951 | ||||
Investment in Real Estate Net | 79,727,520 | ||||
Encumbrances | 0 | ||||
77 Bluxome [Domain] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Francisco, CA | ||||
Real Estate And Accumulated Depreciation Units | 102 | ||||
Initial Cost to Company, Land | 5,249,124 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,609,876 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 91,584 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,249,124 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,701,460 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 23,950,584 | ||||
Accumulated Depreciation | -2,715,377 | ||||
Investment in Real Estate Net | 21,235,207 | ||||
Encumbrances | 0 | ||||
777 Sixth [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 294 | ||||
Initial Cost to Company, Land | 65,352,706 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 65,747,294 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,569,464 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 65,352,706 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 67,316,758 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 132,669,464 | ||||
Accumulated Depreciation | -19,832,874 | ||||
Investment in Real Estate Net | 112,836,590 | ||||
Encumbrances | 0 | ||||
801 Brannan [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Francisco, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 42,367,171 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,605,097 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 42,367,171 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 10,605,097 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 52,972,268 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 52,972,268 | ||||
Encumbrances | 0 | ||||
A88 Hillside [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Daly City, CA | ||||
Real Estate And Accumulated Depreciation Units | 95 | ||||
Initial Cost to Company, Land | 7,786,800 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,587,325 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,440,789 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,786,800 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 33,028,114 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 40,814,914 | ||||
Accumulated Depreciation | -4,524,720 | ||||
Investment in Real Estate Net | 36,290,194 | ||||
Encumbrances | 0 | ||||
Abington Glen [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Abington, MA | ||||
Real Estate And Accumulated Depreciation Units | 90 | ||||
Initial Cost to Company, Land | 553,105 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,697,396 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,640,482 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 553,105 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 6,337,878 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 6,890,983 | ||||
Accumulated Depreciation | -4,166,796 | ||||
Investment in Real Estate Net | 2,724,187 | ||||
Encumbrances | 0 | ||||
Agoura Hills [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Agoura Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 178 | ||||
Initial Cost to Company, Land | 16,700,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,103,716 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 199,116 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 16,700,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 30,302,832 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 47,002,832 | ||||
Accumulated Depreciation | -4,124,770 | ||||
Investment in Real Estate Net | 42,878,062 | ||||
Encumbrances | 0 | ||||
Alban Towers [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 229 | ||||
Initial Cost to Company, Land | 18,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 89,794,201 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 209,270 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 18,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 90,003,471 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 108,903,471 | ||||
Accumulated Depreciation | -9,591,406 | ||||
Investment in Real Estate Net | 99,312,065 | ||||
Encumbrances | 0 | ||||
Arbor Terrace [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Sunnyvale, CA | ||||
Real Estate And Accumulated Depreciation Units | 175 | ||||
Initial Cost to Company, Land | 9,057,300 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,483,642 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,555,686 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,057,300 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 21,039,328 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 30,096,628 | ||||
Accumulated Depreciation | -12,373,084 | ||||
Investment in Real Estate Net | 17,723,544 | ||||
Encumbrances | 0 | ||||
Arboretum (MA) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Canton, MA | ||||
Real Estate And Accumulated Depreciation Units | 156 | ||||
Initial Cost to Company, Land | 4,685,900 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,992,751 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,419,397 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,685,900 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 14,412,148 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 19,098,048 | ||||
Accumulated Depreciation | -8,193,657 | ||||
Investment in Real Estate Net | 10,904,391 | ||||
Encumbrances | 0 | ||||
Artisan on Second [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 118 | ||||
Initial Cost to Company, Land | 8,000,400 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,074,600 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 389,768 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,000,400 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 36,464,368 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 44,464,768 | ||||
Accumulated Depreciation | -6,430,450 | ||||
Investment in Real Estate Net | 38,034,318 | ||||
Encumbrances | 0 | ||||
Artistry Emeryville (fka Emeryville) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Emeryville, CA | ||||
Real Estate And Accumulated Depreciation Units | 261 | ||||
Initial Cost to Company, Land | 12,300,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,466,267 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,320,923 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,300,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 62,787,190 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 75,087,190 | ||||
Accumulated Depreciation | -7,113,391 | ||||
Investment in Real Estate Net | 67,973,799 | ||||
Encumbrances | 0 | ||||
Ashton, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Corona Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 492 | ||||
Initial Cost to Company, Land | 2,594,264 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,042,397 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,987,399 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,594,264 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 40,029,796 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 42,624,060 | ||||
Accumulated Depreciation | -24,912,155 | ||||
Investment in Real Estate Net | 17,711,905 | ||||
Encumbrances | 0 | ||||
Avenue Two [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Redwood City, CA | ||||
Real Estate And Accumulated Depreciation Units | 123 | ||||
Initial Cost to Company, Land | 7,995,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,005,000 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,462,589 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,995,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,467,589 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 27,462,589 | ||||
Accumulated Depreciation | -3,258,935 | ||||
Investment in Real Estate Net | 24,203,654 | ||||
Encumbrances | 0 | ||||
Azure (fka Mission Bay-Block 13) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Francisco, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 32,855,115 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 113,753,727 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 32,855,115 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 113,753,727 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 146,608,842 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 146,608,842 | ||||
Encumbrances | 0 | ||||
Ball Park Lofts [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Denver, CO | ||||
Real Estate And Accumulated Depreciation Units | 354 | ||||
Initial Cost to Company, Land | 5,481,556 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,658,741 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,682,528 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,481,556 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 56,341,269 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 61,822,825 | ||||
Accumulated Depreciation | -21,540,968 | ||||
Investment in Real Estate Net | 40,281,857 | ||||
Encumbrances | 0 | ||||
Barrington Place [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Oviedo, FL | ||||
Real Estate And Accumulated Depreciation Units | 233 | ||||
Initial Cost to Company, Land | 6,990,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,740,825 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,018,496 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,990,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,759,321 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 25,749,321 | ||||
Accumulated Depreciation | -9,212,819 | ||||
Investment in Real Estate Net | 16,536,502 | ||||
Encumbrances | 0 | ||||
Bay Hill [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Long Beach, CA | ||||
Real Estate And Accumulated Depreciation Units | 160 | ||||
Initial Cost to Company, Land | 7,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,437,239 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 963,706 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 28,400,945 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 36,000,945 | ||||
Accumulated Depreciation | -10,977,611 | ||||
Investment in Real Estate Net | 25,023,334 | ||||
Encumbrances | 0 | ||||
Beatrice, The [Domain] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 302 | ||||
Initial Cost to Company, Land | 114,351,405 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 165,648,595 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 593,292 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 114,351,405 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 166,241,887 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 280,593,292 | ||||
Accumulated Depreciation | -23,101,995 | ||||
Investment in Real Estate Net | 257,491,297 | ||||
Encumbrances | 0 | ||||
Belle Terra [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Mukilteo, WA | ||||
Real Estate And Accumulated Depreciation Units | 235 | ||||
Initial Cost to Company, Land | 5,686,861 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,070,540 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,142,423 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,686,861 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 27,212,963 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 32,899,824 | ||||
Accumulated Depreciation | -10,954,172 | ||||
Investment in Real Estate Net | 21,945,652 | ||||
Encumbrances | 0 | ||||
Belle Arts Condominium Homes, LLC [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bellevue, WA | ||||
Real Estate And Accumulated Depreciation Units | 1 | ||||
Initial Cost to Company, Land | 63,158 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 248,929 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | -5,320 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 63,158 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 243,609 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 306,767 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 306,767 | ||||
Encumbrances | 0 | ||||
Bella Fontaine [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Marina Del Rey, CA | ||||
Real Estate And Accumulated Depreciation Units | 102 | ||||
Initial Cost to Company, Land | 9,098,808 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,701,192 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 236,115 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,098,808 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 28,937,307 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 38,036,115 | ||||
Accumulated Depreciation | -4,398,214 | ||||
Investment in Real Estate Net | 33,637,901 | ||||
Encumbrances | 0 | ||||
Berkeley Land [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Berkeley, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 13,908,910 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,409,958 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,908,910 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 8,409,958 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 22,318,868 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 22,318,868 | ||||
Encumbrances | 0 | ||||
Bradford Apartments [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Newington, CT | ||||
Real Estate And Accumulated Depreciation Units | 64 | ||||
Initial Cost to Company, Land | 401,091 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 2,681,210 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 904,877 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 401,091 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 3,586,087 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 3,987,178 | ||||
Accumulated Depreciation | -1,902,145 | ||||
Investment in Real Estate Net | 2,085,033 | ||||
Encumbrances | 0 | ||||
Breakwater at Marina Del Rey [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Marina Del Rey, CA | ||||
Real Estate And Accumulated Depreciation Units | 224 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 73,040,897 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 390,829 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 73,431,726 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 73,431,726 | ||||
Accumulated Depreciation | -8,397,690 | ||||
Investment in Real Estate Net | 65,034,036 | ||||
Encumbrances | 0 | ||||
Briar Knoll Apts [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Vernon, CT | ||||
Real Estate And Accumulated Depreciation Units | 150 | ||||
Initial Cost to Company, Land | 928,972 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,209,988 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,440,679 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 928,972 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 8,650,667 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 9,579,639 | ||||
Accumulated Depreciation | -4,376,105 | ||||
Investment in Real Estate Net | 5,203,534 | ||||
Encumbrances | 0 | ||||
Briarwood (CA) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Sunnyvale, CA | ||||
Real Estate And Accumulated Depreciation Units | 192 | ||||
Initial Cost to Company, Land | 9,991,500 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,247,278 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,407,674 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,991,500 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 25,654,952 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 35,646,452 | ||||
Accumulated Depreciation | -13,931,009 | ||||
Investment in Real Estate Net | 21,715,443 | ||||
Encumbrances | 0 | ||||
Bridford Lakes II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Greensboro, NC | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 1,100,564 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 792,508 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,100,564 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 792,508 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 1,893,072 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 1,893,072 | ||||
Encumbrances | 0 | ||||
Brooklyner (fka 111 Lawrence) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Brooklyn, NY | ||||
Real Estate And Accumulated Depreciation Units | 490 | ||||
Initial Cost to Company, Land | 40,099,922 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 221,438,631 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 785,785 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 40,099,922 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 222,224,416 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 262,324,338 | ||||
Accumulated Depreciation | -30,934,466 | ||||
Investment in Real Estate Net | 231,389,872 | ||||
Encumbrances | 0 | ||||
Brookside (CO) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boulder, CO | ||||
Real Estate And Accumulated Depreciation Units | 144 | ||||
Initial Cost to Company, Land | 3,600,400 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,211,159 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,708,411 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,600,400 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 12,919,570 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 16,519,970 | ||||
Accumulated Depreciation | -7,278,630 | ||||
Investment in Real Estate Net | 9,241,340 | ||||
Encumbrances | 0 | ||||
Cambridge Park [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Cambridge, MA | ||||
Real Estate And Accumulated Depreciation Units | 312 | ||||
Initial Cost to Company, Land | 31,200,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 106,048,587 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,280,508 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 31,200,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 107,329,095 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 138,529,095 | ||||
Accumulated Depreciation | -11,557,359 | ||||
Investment in Real Estate Net | 126,971,736 | ||||
Encumbrances | 0 | ||||
Carlyle Mill [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Alexandria, VA | ||||
Real Estate And Accumulated Depreciation Units | 317 | ||||
Initial Cost to Company, Land | 10,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,367,913 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,851,009 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 57,218,922 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 67,218,922 | ||||
Accumulated Depreciation | -23,791,982 | ||||
Investment in Real Estate Net | 43,426,940 | ||||
Encumbrances | 0 | ||||
Cascade [Domain] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 23,751,564 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,791,356 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 23,751,564 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 10,791,356 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 34,542,920 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 34,542,920 | ||||
Encumbrances | 0 | ||||
Centennial (fka Centennial Court & Centennial Tower) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 408 | ||||
Initial Cost to Company, Land | 9,700,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 70,080,378 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,937,805 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,700,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 77,018,183 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 86,718,183 | ||||
Accumulated Depreciation | -27,564,879 | ||||
Investment in Real Estate Net | 59,153,304 | ||||
Encumbrances | 0 | ||||
Centre Club [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Ontario, CA | ||||
Real Estate And Accumulated Depreciation Units | 312 | ||||
Initial Cost to Company, Land | 5,616,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,485,891 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,450,905 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,616,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 26,936,796 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 32,552,796 | ||||
Accumulated Depreciation | -13,897,951 | ||||
Investment in Real Estate Net | 18,654,845 | ||||
Encumbrances | 0 | ||||
Centre Club II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Ontario, CA | ||||
Real Estate And Accumulated Depreciation Units | 100 | ||||
Initial Cost to Company, Land | 1,820,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,528,898 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 819,747 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,820,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 10,348,645 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 12,168,645 | ||||
Accumulated Depreciation | -4,700,524 | ||||
Investment in Real Estate Net | 7,468,121 | ||||
Encumbrances | 0 | ||||
Church Corner [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Cambridge, MA | ||||
Real Estate And Accumulated Depreciation Units | 85 | ||||
Initial Cost to Company, Land | 5,220,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,744,643 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,800,805 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,220,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,545,448 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 23,765,448 | ||||
Accumulated Depreciation | -7,065,181 | ||||
Investment in Real Estate Net | 16,700,267 | ||||
Encumbrances | 0 | ||||
Cierra Crest [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Denver, CO | ||||
Real Estate And Accumulated Depreciation Units | 480 | ||||
Initial Cost to Company, Land | 4,803,100 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,894,898 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,414,548 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,803,100 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 40,309,446 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 45,112,546 | ||||
Accumulated Depreciation | -24,419,410 | ||||
Investment in Real Estate Net | 20,693,136 | ||||
Encumbrances | 0 | ||||
City Gate at Cupertino (fka Cupertino) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Cupertino, CA | ||||
Real Estate And Accumulated Depreciation Units | 311 | ||||
Initial Cost to Company, Land | 40,400,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 95,937,046 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,779,973 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 40,400,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 97,717,019 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 138,117,019 | ||||
Accumulated Depreciation | -10,309,105 | ||||
Investment in Real Estate Net | 127,807,914 | ||||
Encumbrances | 0 | ||||
City Pointe [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Fullerton, CA | ||||
Real Estate And Accumulated Depreciation Units | 183 | ||||
Initial Cost to Company, Land | 6,863,792 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,476,208 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 721,681 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,863,792 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 37,197,889 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 44,061,681 | ||||
Accumulated Depreciation | -9,178,639 | ||||
Investment in Real Estate Net | 34,883,042 | ||||
Encumbrances | 0 | ||||
City Square Bellevue (fka Bellevue) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bellevue, WA | ||||
Real Estate And Accumulated Depreciation Units | 191 | ||||
Initial Cost to Company, Land | 15,100,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 41,876,257 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,050,569 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,100,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 43,926,826 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 59,026,826 | ||||
Accumulated Depreciation | -4,422,723 | ||||
Investment in Real Estate Net | 54,604,103 | ||||
Encumbrances | 0 | ||||
Cleo, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 92 | ||||
Initial Cost to Company, Land | 6,615,467 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,829,335 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,773,750 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,615,467 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,603,085 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 25,218,552 | ||||
Accumulated Depreciation | -7,103,987 | ||||
Investment in Real Estate Net | 18,114,565 | ||||
Encumbrances | 0 | ||||
Coconut Palm Club [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Coconut Creek, FL | ||||
Real Estate And Accumulated Depreciation Units | 301 | ||||
Initial Cost to Company, Land | 3,001,700 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,678,928 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,041,006 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,001,700 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 21,719,934 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 24,721,634 | ||||
Accumulated Depreciation | -12,873,552 | ||||
Investment in Real Estate Net | 11,848,082 | ||||
Encumbrances | 0 | ||||
Colorado Pointe [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Denver, CO | ||||
Real Estate And Accumulated Depreciation Units | 193 | ||||
Initial Cost to Company, Land | 5,790,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,815,607 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 752,433 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,790,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 29,568,040 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 35,358,040 | ||||
Accumulated Depreciation | -10,517,365 | ||||
Investment in Real Estate Net | 24,840,675 | ||||
Encumbrances | 0 | ||||
Copper Canyon [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Highlands Ranch, CO | ||||
Real Estate And Accumulated Depreciation Units | 222 | ||||
Initial Cost to Company, Land | 1,442,212 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,251,114 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,772,671 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,442,212 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,023,785 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 19,465,997 | ||||
Accumulated Depreciation | -9,990,871 | ||||
Investment in Real Estate Net | 9,475,126 | ||||
Encumbrances | 0 | ||||
Corcoran House at DuPont Circle (fka DuPont Circle) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 137 | ||||
Initial Cost to Company, Land | 13,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,913,113 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 791,502 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 27,704,615 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 41,204,615 | ||||
Accumulated Depreciation | -3,669,329 | ||||
Investment in Real Estate Net | 37,535,286 | ||||
Encumbrances | 0 | ||||
Courthouse Plaza [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 396 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 87,386,024 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,025,937 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 90,411,961 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 90,411,961 | ||||
Accumulated Depreciation | -11,097,765 | ||||
Investment in Real Estate Net | 79,314,196 | ||||
Encumbrances | 0 | ||||
Cove at Boynton Beach I [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boynton Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 252 | ||||
Initial Cost to Company, Land | 12,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,469,651 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,584,960 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 36,054,611 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 48,654,611 | ||||
Accumulated Depreciation | -15,408,055 | ||||
Investment in Real Estate Net | 33,246,556 | ||||
Encumbrances | 0 | ||||
Cove at Boynton Beach II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boynton Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 296 | ||||
Initial Cost to Company, Land | 14,800,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 37,874,719 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,800,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 37,874,719 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 52,674,719 | ||||
Accumulated Depreciation | -14,615,674 | ||||
Investment in Real Estate Net | 38,059,045 | ||||
Encumbrances | 0 | ||||
Creekside (San Mateo) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Mateo, CA | ||||
Real Estate And Accumulated Depreciation Units | 192 | ||||
Initial Cost to Company, Land | 9,606,600 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,193,232 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,609,414 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,606,600 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 24,802,646 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 34,409,246 | ||||
Accumulated Depreciation | -13,787,401 | ||||
Investment in Real Estate Net | 20,621,845 | ||||
Encumbrances | 0 | ||||
Cronins Landing [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Waltham, MA | ||||
Real Estate And Accumulated Depreciation Units | 281 | ||||
Initial Cost to Company, Land | 32,300,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 85,119,324 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,108,920 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 32,300,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 86,228,244 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 118,528,244 | ||||
Accumulated Depreciation | -9,629,005 | ||||
Investment in Real Estate Net | 108,899,239 | ||||
Encumbrances | 0 | ||||
Crystal Place [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 181 | ||||
Initial Cost to Company, Land | 17,200,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 47,918,975 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 822,173 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 17,200,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 48,741,148 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 65,941,148 | ||||
Accumulated Depreciation | -5,368,053 | ||||
Investment in Real Estate Net | 60,573,095 | ||||
Encumbrances | 0 | ||||
Dartmouth Woods [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Lakewood, CO | ||||
Real Estate And Accumulated Depreciation Units | 201 | ||||
Initial Cost to Company, Land | 1,609,800 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,832,754 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,497,430 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,609,800 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 13,330,184 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 14,939,984 | ||||
Accumulated Depreciation | -8,473,402 | ||||
Investment in Real Estate Net | 6,466,582 | ||||
Encumbrances | 0 | ||||
Dean Estates [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Taunton, MA | ||||
Real Estate And Accumulated Depreciation Units | 58 | ||||
Initial Cost to Company, Land | 498,080 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,329,560 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 809,096 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 498,080 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 4,138,656 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 4,636,736 | ||||
Accumulated Depreciation | -2,275,545 | ||||
Investment in Real Estate Net | 2,361,191 | ||||
Encumbrances | 0 | ||||
Deerwood (Corona) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Corona, CA | ||||
Real Estate And Accumulated Depreciation Units | 316 | ||||
Initial Cost to Company, Land | 4,742,200 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,272,892 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,430,978 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,742,200 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 24,703,870 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 29,446,070 | ||||
Accumulated Depreciation | -15,468,543 | ||||
Investment in Real Estate Net | 13,977,527 | ||||
Encumbrances | 0 | ||||
Eagle Canyon [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Chino Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 252 | ||||
Initial Cost to Company, Land | 1,808,900 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,274,361 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,553,015 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,808,900 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 23,827,376 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 25,636,276 | ||||
Accumulated Depreciation | -15,121,257 | ||||
Investment in Real Estate Net | 10,515,019 | ||||
Encumbrances | 0 | ||||
Edgemont at Bethesda Metro [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bethesda, MD | ||||
Real Estate And Accumulated Depreciation Units | 122 | ||||
Initial Cost to Company, Land | 13,092,552 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 43,907,448 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 525,086 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,092,552 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 44,432,534 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 57,525,086 | ||||
Accumulated Depreciation | -6,807,362 | ||||
Investment in Real Estate Net | 50,717,724 | ||||
Encumbrances | 0 | ||||
ElevC) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Glendale, CA | ||||
Real Estate And Accumulated Depreciation Units | 208 | ||||
Initial Cost to Company, Land | 14,080,560 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 56,419,440 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 79,091 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,080,560 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 56,498,531 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 70,579,091 | ||||
Accumulated Depreciation | -2,964,122 | ||||
Investment in Real Estate Net | 67,614,969 | ||||
Encumbrances | 0 | ||||
Emerson Place [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boston, MA | ||||
Real Estate And Accumulated Depreciation Units | 444 | ||||
Initial Cost to Company, Land | 14,855,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 57,566,636 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 16,797,224 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,855,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 74,363,860 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 89,218,860 | ||||
Accumulated Depreciation | -47,115,657 | ||||
Investment in Real Estate Net | 42,103,203 | ||||
Encumbrances | 0 | ||||
Encinitas Heights (fka Encinitas) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Encinitas, CA | ||||
Real Estate And Accumulated Depreciation Units | 120 | ||||
Initial Cost to Company, Land | 12,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,207,497 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 211,769 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 29,419,266 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 41,419,266 | ||||
Accumulated Depreciation | -3,528,264 | ||||
Investment in Real Estate Net | 37,891,002 | ||||
Encumbrances | 0 | ||||
Enclave at Waterways [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Deerfield Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 300 | ||||
Initial Cost to Company, Land | 15,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,194,576 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,023,348 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 35,217,924 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 50,217,924 | ||||
Accumulated Depreciation | -13,576,836 | ||||
Investment in Real Estate Net | 36,641,088 | ||||
Encumbrances | 0 | ||||
Enclave at Winston Park [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Coconut Creek, FL | ||||
Real Estate And Accumulated Depreciation Units | 278 | ||||
Initial Cost to Company, Land | 5,560,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,939,324 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,124,830 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,560,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 25,064,154 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 30,624,154 | ||||
Accumulated Depreciation | -11,489,835 | ||||
Investment in Real Estate Net | 19,134,319 | ||||
Encumbrances | 0 | ||||
Encore at Sherman Oaks, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Sherman Oaks, CA | ||||
Real Estate And Accumulated Depreciation Units | 174 | ||||
Initial Cost to Company, Land | 8,700,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,446,003 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 985,534 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,700,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 26,431,537 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 35,131,537 | ||||
Accumulated Depreciation | -5,201,465 | ||||
Investment in Real Estate Net | 29,930,072 | ||||
Encumbrances | 0 | ||||
Estates at Tanglewood [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Westminster, CO | ||||
Real Estate And Accumulated Depreciation Units | 504 | ||||
Initial Cost to Company, Land | 7,560,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,256,538 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,870,210 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,560,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 54,126,748 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 61,686,748 | ||||
Accumulated Depreciation | -20,000,446 | ||||
Investment in Real Estate Net | 41,686,302 | ||||
Encumbrances | 0 | ||||
Estates at Wellington Green [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Wellington, FL | ||||
Real Estate And Accumulated Depreciation Units | 400 | ||||
Initial Cost to Company, Land | 20,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 64,790,850 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,415,710 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 20,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 67,206,560 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 87,206,560 | ||||
Accumulated Depreciation | -24,828,948 | ||||
Investment in Real Estate Net | 62,377,612 | ||||
Encumbrances | 0 | ||||
Fountains at Emerald Park (fka Emerald Park) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Dublin, CA | ||||
Real Estate And Accumulated Depreciation Units | 324 | ||||
Initial Cost to Company, Land | 25,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 83,986,217 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 329,083 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 25,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 84,315,300 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 110,215,300 | ||||
Accumulated Depreciation | -9,418,800 | ||||
Investment in Real Estate Net | 100,796,500 | ||||
Encumbrances | 0 | ||||
Fox Hill Apartments [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Enfield, CT | ||||
Real Estate And Accumulated Depreciation Units | 168 | ||||
Initial Cost to Company, Land | 1,129,018 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,547,256 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,038,591 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,129,018 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 9,585,847 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 10,714,865 | ||||
Accumulated Depreciation | -5,061,024 | ||||
Investment in Real Estate Net | 5,653,841 | ||||
Encumbrances | 0 | ||||
Fremont Center [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Fremont, CA | ||||
Real Estate And Accumulated Depreciation Units | 322 | ||||
Initial Cost to Company, Land | 25,800,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 78,753,114 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,138,054 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 25,800,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 79,891,168 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 105,691,168 | ||||
Accumulated Depreciation | -8,436,511 | ||||
Investment in Real Estate Net | 97,254,657 | ||||
Encumbrances | 0 | ||||
Gables Grand Plaza [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Coral Gables, FL | ||||
Real Estate And Accumulated Depreciation Units | 195 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,601,000 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,243,495 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 51,844,495 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 51,844,495 | ||||
Accumulated Depreciation | -20,895,735 | ||||
Investment in Real Estate Net | 30,948,760 | ||||
Encumbrances | 0 | ||||
Gallery, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Hermosa Beach, CA | ||||
Real Estate And Accumulated Depreciation Units | 169 | ||||
Initial Cost to Company, Land | 18,144,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 46,567,941 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,170,023 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 18,144,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 48,737,964 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 66,881,964 | ||||
Accumulated Depreciation | -16,524,852 | ||||
Investment in Real Estate Net | 50,357,112 | ||||
Encumbrances | 0 | ||||
Gatehouse at Pine Lake [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pembroke Pines, FL | ||||
Real Estate And Accumulated Depreciation Units | 296 | ||||
Initial Cost to Company, Land | 1,896,600 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,070,795 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,050,209 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,896,600 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 24,121,004 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 26,017,604 | ||||
Accumulated Depreciation | -14,398,441 | ||||
Investment in Real Estate Net | 11,619,163 | ||||
Encumbrances | 0 | ||||
Gatehouse on the Green [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Plantation, FL | ||||
Real Estate And Accumulated Depreciation Units | 312 | ||||
Initial Cost to Company, Land | 2,228,200 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,056,270 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 8,529,397 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,228,200 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 28,585,667 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 30,813,867 | ||||
Accumulated Depreciation | -17,655,268 | ||||
Investment in Real Estate Net | 13,158,599 | ||||
Encumbrances | 0 | ||||
Gates of Redmond [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Redmond, WA | ||||
Real Estate And Accumulated Depreciation Units | 180 | ||||
Initial Cost to Company, Land | 2,306,100 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,064,015 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,008,026 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,306,100 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 17,072,041 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 19,378,141 | ||||
Accumulated Depreciation | -10,668,500 | ||||
Investment in Real Estate Net | 8,709,641 | ||||
Encumbrances | 0 | ||||
Geary Court Yard [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Francisco, CA | ||||
Real Estate And Accumulated Depreciation Units | 164 | ||||
Initial Cost to Company, Land | 1,722,400 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,471,429 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,464,405 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,722,400 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,935,834 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 20,658,234 | ||||
Accumulated Depreciation | -11,005,136 | ||||
Investment in Real Estate Net | 9,653,098 | ||||
Encumbrances | 0 | ||||
Glen Meadow [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Franklin, MA | ||||
Real Estate And Accumulated Depreciation Units | 288 | ||||
Initial Cost to Company, Land | 2,339,330 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,133,588 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,991,967 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,339,330 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 20,125,555 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 22,464,885 | ||||
Accumulated Depreciation | -11,374,011 | ||||
Investment in Real Estate Net | 11,090,874 | ||||
Encumbrances | 0 | ||||
Governors Green [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bowie, MD | ||||
Real Estate And Accumulated Depreciation Units | 478 | ||||
Initial Cost to Company, Land | 19,845,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 73,335,916 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,412,260 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 19,845,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 74,748,176 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 94,593,176 | ||||
Accumulated Depreciation | -23,032,994 | ||||
Investment in Real Estate Net | 71,560,182 | ||||
Encumbrances | 0 | ||||
Greenfield Village [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Rocky Hill , CT | ||||
Real Estate And Accumulated Depreciation Units | 151 | ||||
Initial Cost to Company, Land | 911,534 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 6,093,418 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 773,225 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 911,534 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 6,866,643 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 7,778,177 | ||||
Accumulated Depreciation | -3,622,365 | ||||
Investment in Real Estate Net | 4,155,812 | ||||
Encumbrances | 0 | ||||
Greenwood Park [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Centennial, CO | ||||
Real Estate And Accumulated Depreciation Units | 291 | ||||
Initial Cost to Company, Land | 4,365,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,372,440 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,833,754 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,365,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 41,206,194 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 45,571,194 | ||||
Accumulated Depreciation | -13,229,764 | ||||
Investment in Real Estate Net | 32,341,430 | ||||
Encumbrances | 0 | ||||
Greenwood Plaza [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Centennial, CO | ||||
Real Estate And Accumulated Depreciation Units | 266 | ||||
Initial Cost to Company, Land | 3,990,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,846,708 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,744,839 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,990,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 38,591,547 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 42,581,547 | ||||
Accumulated Depreciation | -12,762,175 | ||||
Investment in Real Estate Net | 29,819,372 | ||||
Encumbrances | 0 | ||||
Hammocks Place [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Miami, FL | ||||
Real Estate And Accumulated Depreciation Units | 296 | ||||
Initial Cost to Company, Land | 319,180 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,513,467 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,338,503 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 319,180 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 17,851,970 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 18,171,150 | ||||
Accumulated Depreciation | -12,636,539 | ||||
Investment in Real Estate Net | 5,534,611 | ||||
Encumbrances | 0 | ||||
Hampshire Place [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 259 | ||||
Initial Cost to Company, Land | 10,806,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,335,330 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,447,199 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,806,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 33,782,529 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 44,588,529 | ||||
Accumulated Depreciation | -12,995,633 | ||||
Investment in Real Estate Net | 31,592,896 | ||||
Encumbrances | 0 | ||||
Harbor Steps [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 758 | ||||
Initial Cost to Company, Land | 59,387,158 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 158,829,432 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 14,399,390 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 59,387,158 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 173,228,822 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 232,615,980 | ||||
Accumulated Depreciation | -59,958,870 | ||||
Investment in Real Estate Net | 172,657,110 | ||||
Encumbrances | 0 | ||||
Heritage at Stone Ridge [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Burlington, MA | ||||
Real Estate And Accumulated Depreciation Units | 180 | ||||
Initial Cost to Company, Land | 10,800,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,808,335 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,240,736 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,800,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 33,049,071 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 43,849,071 | ||||
Accumulated Depreciation | -11,857,633 | ||||
Investment in Real Estate Net | 31,991,438 | ||||
Encumbrances | 0 | ||||
Heritage Ridge [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Lynwood, WA | ||||
Real Estate And Accumulated Depreciation Units | 197 | ||||
Initial Cost to Company, Land | 6,895,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,983,597 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 885,040 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,895,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,868,637 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 26,763,637 | ||||
Accumulated Depreciation | -8,025,318 | ||||
Investment in Real Estate Net | 18,738,319 | ||||
Encumbrances | 0 | ||||
Heron Pointe [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boynton Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 192 | ||||
Initial Cost to Company, Land | 1,546,700 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,774,676 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,523,556 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,546,700 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 10,298,232 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 11,844,932 | ||||
Accumulated Depreciation | -6,663,332 | ||||
Investment in Real Estate Net | 5,181,600 | ||||
Encumbrances | 0 | ||||
Hesby [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | North Hollywood, CA | ||||
Real Estate And Accumulated Depreciation Units | 308 | ||||
Initial Cost to Company, Land | 23,299,892 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 102,700,108 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 53,278 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 23,299,892 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 102,753,386 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 126,053,278 | ||||
Accumulated Depreciation | -3,116,198 | ||||
Investment in Real Estate Net | 122,937,080 | ||||
Encumbrances | 0 | ||||
High Meadow [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Ellington, CT | ||||
Real Estate And Accumulated Depreciation Units | 100 | ||||
Initial Cost to Company, Land | 583,679 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,901,774 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,204,674 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 583,679 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 5,106,448 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 5,690,127 | ||||
Accumulated Depreciation | -2,657,575 | ||||
Investment in Real Estate Net | 3,032,552 | ||||
Encumbrances | 0 | ||||
Highland Glen [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Westwood, MA | ||||
Real Estate And Accumulated Depreciation Units | 180 | ||||
Initial Cost to Company, Land | 2,229,095 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,828,153 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,784,639 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,229,095 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,612,792 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,841,887 | ||||
Accumulated Depreciation | -10,224,890 | ||||
Investment in Real Estate Net | 11,616,997 | ||||
Encumbrances | 0 | ||||
Highland Glen II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Westwood, MA | ||||
Real Estate And Accumulated Depreciation Units | 102 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,875,857 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 168,257 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 20,044,114 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 20,044,114 | ||||
Accumulated Depreciation | -5,731,936 | ||||
Investment in Real Estate Net | 14,312,178 | ||||
Encumbrances | 0 | ||||
Highlands at Cherry Hill [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Cherry Hills, NJ | ||||
Real Estate And Accumulated Depreciation Units | 170 | ||||
Initial Cost to Company, Land | 6,800,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,459,108 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 908,619 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,800,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 22,367,727 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 29,167,727 | ||||
Accumulated Depreciation | -8,000,482 | ||||
Investment in Real Estate Net | 21,167,245 | ||||
Encumbrances | 0 | ||||
Highlands At South Plainfield [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | South Plainfield, NJ | ||||
Real Estate And Accumulated Depreciation Units | 252 | ||||
Initial Cost to Company, Land | 10,080,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 37,526,912 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,066,617 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,080,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 38,593,529 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 48,673,529 | ||||
Accumulated Depreciation | -13,169,823 | ||||
Investment in Real Estate Net | 35,503,706 | ||||
Encumbrances | 0 | ||||
Hikari [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 128 | ||||
Initial Cost to Company, Land | 9,435,760 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 32,564,240 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 226,353 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,435,760 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 32,790,593 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 42,226,353 | ||||
Accumulated Depreciation | -5,483,065 | ||||
Investment in Real Estate Net | 36,743,288 | ||||
Encumbrances | 0 | ||||
Hudson Crossing [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 259 | ||||
Initial Cost to Company, Land | 23,420,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 69,977,699 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,911,448 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 23,420,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 71,889,147 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 95,309,147 | ||||
Accumulated Depreciation | -25,933,022 | ||||
Investment in Real Estate Net | 69,376,125 | ||||
Encumbrances | 0 | ||||
Hudson Crossing II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 10,599,286 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 361,404 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,599,286 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 361,404 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 10,960,690 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 10,960,690 | ||||
Encumbrances | 0 | ||||
Hudson Pointe [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Jersey City, NJ | ||||
Real Estate And Accumulated Depreciation Units | 182 | ||||
Initial Cost to Company, Land | 5,350,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 41,114,074 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,675,247 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,350,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 43,789,321 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 49,139,321 | ||||
Accumulated Depreciation | -16,766,304 | ||||
Investment in Real Estate Net | 32,373,017 | ||||
Encumbrances | 0 | ||||
Hunt Club II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Charlotte, NC | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 100,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 100,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 100,000 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 100,000 | ||||
Encumbrances | 0 | ||||
Huntington Park [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Everett, WA | ||||
Real Estate And Accumulated Depreciation Units | 381 | ||||
Initial Cost to Company, Land | 1,597,500 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,367,864 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,321,606 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,597,500 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,689,470 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,286,970 | ||||
Accumulated Depreciation | -14,109,888 | ||||
Investment in Real Estate Net | 7,177,082 | ||||
Encumbrances | 0 | ||||
Jia [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 280 | ||||
Initial Cost to Company, Land | 14,791,831 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 74,818,783 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 92,185 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,791,831 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 74,910,968 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 89,702,799 | ||||
Accumulated Depreciation | -3,493,876 | ||||
Investment in Real Estate Net | 86,208,923 | ||||
Encumbrances | 0 | ||||
Junction 47 (fka West Seattle) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 11,726,305 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 32,787,325 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 11,726,305 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 32,787,325 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 44,513,630 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 44,513,630 | ||||
Encumbrances | 0 | ||||
Kenwood Mews [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Burbank, CA | ||||
Real Estate And Accumulated Depreciation Units | 141 | ||||
Initial Cost to Company, Land | 14,100,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,662,883 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,139,424 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,100,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 27,802,307 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 41,902,307 | ||||
Accumulated Depreciation | -9,416,490 | ||||
Investment in Real Estate Net | 32,485,817 | ||||
Encumbrances | 0 | ||||
Kings Colony (FL) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Miami, FL | ||||
Real Estate And Accumulated Depreciation Units | 480 | ||||
Initial Cost to Company, Land | 19,200,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 48,379,586 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,959,307 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 19,200,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 54,338,893 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 73,538,893 | ||||
Accumulated Depreciation | -20,308,990 | ||||
Investment in Real Estate Net | 53,229,903 | ||||
Encumbrances | 0 | ||||
Landings at Pembroke Lakes [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pembroke Pines, FL | ||||
Real Estate And Accumulated Depreciation Units | 358 | ||||
Initial Cost to Company, Land | 17,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,460,989 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,417,847 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 17,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 29,878,836 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 47,778,836 | ||||
Accumulated Depreciation | -13,049,614 | ||||
Investment in Real Estate Net | 34,729,222 | ||||
Encumbrances | 0 | ||||
Landings at Port Imperial [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | W. New York, NJ | ||||
Real Estate And Accumulated Depreciation Units | 276 | ||||
Initial Cost to Company, Land | 27,246,045 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 37,741,050 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,383,017 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 27,246,045 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 45,124,067 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 72,370,112 | ||||
Accumulated Depreciation | -23,206,569 | ||||
Investment in Real Estate Net | 49,163,543 | ||||
Encumbrances | 0 | ||||
Legacy at Highlands Ranch [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Highlands Ranch, CO | ||||
Real Estate And Accumulated Depreciation Units | 422 | ||||
Initial Cost to Company, Land | 6,330,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 37,557,013 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,638,356 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,330,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 40,195,369 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 46,525,369 | ||||
Accumulated Depreciation | -15,555,886 | ||||
Investment in Real Estate Net | 30,969,483 | ||||
Encumbrances | 0 | ||||
Lincoln Heights [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Quincy, MA | ||||
Real Estate And Accumulated Depreciation Units | 336 | ||||
Initial Cost to Company, Land | 5,928,400 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,595,262 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 11,650,955 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,928,400 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 45,246,217 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 51,174,617 | ||||
Accumulated Depreciation | -27,775,700 | ||||
Investment in Real Estate Net | 23,398,917 | ||||
Encumbrances | 0 | ||||
Loft 590 [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 212 | ||||
Initial Cost to Company, Land | 20,100,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 67,909,023 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 103,786 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 20,100,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 68,012,809 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 88,112,809 | ||||
Accumulated Depreciation | -6,942,600 | ||||
Investment in Real Estate Net | 81,170,209 | ||||
Encumbrances | 0 | ||||
Lofts at Kendall Square (fka Kendall Square) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Cambridge, MA | ||||
Real Estate And Accumulated Depreciation Units | 186 | ||||
Initial Cost to Company, Land | 23,300,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 78,445,657 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,018,131 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 23,300,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 80,463,788 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 103,763,788 | ||||
Accumulated Depreciation | -8,212,576 | ||||
Investment in Real Estate Net | 95,551,212 | ||||
Encumbrances | 0 | ||||
Longacre House [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 293 | ||||
Initial Cost to Company, Land | 73,170,045 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 53,962,510 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,359,584 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 73,170,045 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 55,322,094 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 128,492,139 | ||||
Accumulated Depreciation | -17,329,569 | ||||
Investment in Real Estate Net | 111,162,570 | ||||
Encumbrances | 0 | ||||
Longfellow Place [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boston, MA | ||||
Real Estate And Accumulated Depreciation Units | 710 | ||||
Initial Cost to Company, Land | 53,164,160 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 186,182,421 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 79,837,257 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 53,164,160 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 266,019,678 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 319,183,838 | ||||
Accumulated Depreciation | -143,763,840 | ||||
Investment in Real Estate Net | 175,419,998 | ||||
Encumbrances | 0 | ||||
Mantena [Domain] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 98 | ||||
Initial Cost to Company, Land | 22,346,513 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,501,158 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 261,029 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 22,346,513 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 61,762,187 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 84,108,700 | ||||
Accumulated Depreciation | -6,972,870 | ||||
Investment in Real Estate Net | 77,135,830 | ||||
Encumbrances | 0 | ||||
Marina 41 (fka Marina Del Rey) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Marina Del Rey, CA | ||||
Real Estate And Accumulated Depreciation Units | 623 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 168,842,442 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,512,278 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 172,354,720 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 172,354,720 | ||||
Accumulated Depreciation | -20,885,949 | ||||
Investment in Real Estate Net | 151,468,771 | ||||
Encumbrances | 0 | ||||
Mariposa at Playa Del Rey (fka Playa Del Rey) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Playa Del Rey, CA | ||||
Real Estate And Accumulated Depreciation Units | 354 | ||||
Initial Cost to Company, Land | 60,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 89,311,482 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,751,781 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 60,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 92,063,263 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 152,963,263 | ||||
Accumulated Depreciation | -10,307,910 | ||||
Investment in Real Estate Net | 142,655,353 | ||||
Encumbrances | 0 | ||||
Marquessa [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Corona Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 336 | ||||
Initial Cost to Company, Land | 6,888,500 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,604,584 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,638,093 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,888,500 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 25,242,677 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 32,131,177 | ||||
Accumulated Depreciation | -15,261,218 | ||||
Investment in Real Estate Net | 16,869,959 | ||||
Encumbrances | 0 | ||||
Martine, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bellevue, WA | ||||
Real Estate And Accumulated Depreciation Units | 67 | ||||
Initial Cost to Company, Land | 3,200,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,616,264 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,168,293 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,200,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 12,784,557 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 15,984,557 | ||||
Accumulated Depreciation | -4,645,681 | ||||
Investment in Real Estate Net | 11,338,876 | ||||
Encumbrances | 0 | ||||
Milano Lofts [Domain] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 99 | ||||
Initial Cost to Company, Land | 8,125,216 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,378,784 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 337,583 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,125,216 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 27,716,367 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 35,841,583 | ||||
Accumulated Depreciation | -3,549,329 | ||||
Investment in Real Estate Net | 32,292,254 | ||||
Encumbrances | 0 | ||||
Millikan [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Irvine, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 11,049,027 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,318,032 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 11,049,027 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 30,318,032 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 41,367,059 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 41,367,059 | ||||
Encumbrances | 0 | ||||
Miramar Lakes [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Miramar, FL | ||||
Real Estate And Accumulated Depreciation Units | 344 | ||||
Initial Cost to Company, Land | 17,200,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 51,487,235 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,246,702 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 17,200,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 53,733,937 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 70,933,937 | ||||
Accumulated Depreciation | -19,418,255 | ||||
Investment in Real Estate Net | 51,515,682 | ||||
Encumbrances | 0 | ||||
Mosaic at Largo Station [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Hyattsville, MD | ||||
Real Estate And Accumulated Depreciation Units | 242 | ||||
Initial Cost to Company, Land | 4,120,800 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 42,477,297 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 543,227 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,120,800 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 43,020,524 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 47,141,324 | ||||
Accumulated Depreciation | -11,883,141 | ||||
Investment in Real Estate Net | 35,258,183 | ||||
Encumbrances | 0 | ||||
Mozaic at Union Station [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 272 | ||||
Initial Cost to Company, Land | 8,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 52,529,446 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,415,603 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 53,945,049 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 62,445,049 | ||||
Accumulated Depreciation | -16,666,145 | ||||
Investment in Real Estate Net | 45,778,904 | ||||
Encumbrances | 0 | ||||
Murray Hill Tower (fka Murray Hill) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 270 | ||||
Initial Cost to Company, Land | 75,800,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 102,705,401 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,298,858 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 75,800,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 105,004,259 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 180,804,259 | ||||
Accumulated Depreciation | -14,081,429 | ||||
Investment in Real Estate Net | 166,722,830 | ||||
Encumbrances | 0 | ||||
Northglen [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Valencia, CA | ||||
Real Estate And Accumulated Depreciation Units | 234 | ||||
Initial Cost to Company, Land | 9,360,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,778,553 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,130,660 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,360,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 22,909,213 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 32,269,213 | ||||
Accumulated Depreciation | -11,564,178 | ||||
Investment in Real Estate Net | 20,705,035 | ||||
Encumbrances | 0 | ||||
Northlake (MD) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Germantown, MD | ||||
Real Estate And Accumulated Depreciation Units | 304 | ||||
Initial Cost to Company, Land | 15,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,142,302 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 10,324,900 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 33,467,202 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 48,467,202 | ||||
Accumulated Depreciation | -16,634,313 | ||||
Investment in Real Estate Net | 31,832,889 | ||||
Encumbrances | 0 | ||||
Northridge [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pleasant Hill, CA | ||||
Real Estate And Accumulated Depreciation Units | 221 | ||||
Initial Cost to Company, Land | 5,527,800 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,691,705 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 10,017,139 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,527,800 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 24,708,844 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 30,236,644 | ||||
Accumulated Depreciation | -14,954,766 | ||||
Investment in Real Estate Net | 15,281,878 | ||||
Encumbrances | 0 | ||||
Oak Mill One [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Germantown, MD | ||||
Real Estate And Accumulated Depreciation Units | 208 | ||||
Initial Cost to Company, Land | 10,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,155,522 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,666,964 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 20,822,486 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 30,822,486 | ||||
Accumulated Depreciation | -10,690,161 | ||||
Investment in Real Estate Net | 20,132,325 | ||||
Encumbrances | 0 | ||||
Oak Park North [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Agoura Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 220 | ||||
Initial Cost to Company, Land | 1,706,900 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,362,666 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,313,705 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,706,900 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,676,371 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,383,271 | ||||
Accumulated Depreciation | -12,773,791 | ||||
Investment in Real Estate Net | 8,609,480 | ||||
Encumbrances | 0 | ||||
Oak Park South [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Agoura Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 224 | ||||
Initial Cost to Company, Land | 1,683,800 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,154,608 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,367,145 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,683,800 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,521,753 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,205,553 | ||||
Accumulated Depreciation | -12,723,696 | ||||
Investment in Real Estate Net | 8,481,857 | ||||
Encumbrances | 0 | ||||
Oaks at Falls Church [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Falls Church, VA | ||||
Real Estate And Accumulated Depreciation Units | 176 | ||||
Initial Cost to Company, Land | 20,240,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,152,616 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,918,112 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 20,240,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 24,070,728 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 44,310,728 | ||||
Accumulated Depreciation | -9,576,777 | ||||
Investment in Real Estate Net | 34,733,951 | ||||
Encumbrances | 0 | ||||
Oakwood Boston [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boston, MA | ||||
Real Estate And Accumulated Depreciation Units | 94 | ||||
Initial Cost to Company, Land | 22,200,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,672,979 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 803,040 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 22,200,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 29,476,019 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 51,676,019 | ||||
Accumulated Depreciation | -3,687,255 | ||||
Investment in Real Estate Net | 47,988,764 | ||||
Encumbrances | 0 | ||||
Oakwood Crystal City [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 162 | ||||
Initial Cost to Company, Land | 15,400,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,474,336 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 320,085 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,400,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 35,794,421 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 51,194,421 | ||||
Accumulated Depreciation | -4,189,805 | ||||
Investment in Real Estate Net | 47,004,616 | ||||
Encumbrances | 0 | ||||
Oakwood Marina Del Rey [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Marina Del Rey, CA | ||||
Real Estate And Accumulated Depreciation Units | 597 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 120,795,359 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,287,912 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 122,083,271 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 122,083,271 | ||||
Accumulated Depreciation | -14,413,937 | ||||
Investment in Real Estate Net | 107,669,334 | ||||
Encumbrances | 0 | ||||
Oasis at Delray Beach I [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Delray Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 196 | ||||
Initial Cost to Company, Land | 5,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,150,766 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 793,145 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 25,943,911 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 31,843,911 | ||||
Accumulated Depreciation | -3,587,721 | ||||
Investment in Real Estate Net | 28,256,190 | ||||
Encumbrances | 0 | ||||
Oasis at Delray Beach II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Delray Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 128 | ||||
Initial Cost to Company, Land | 3,840,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,144,377 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,844 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,840,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,146,221 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,986,221 | ||||
Accumulated Depreciation | -1,077,031 | ||||
Investment in Real Estate Net | 20,909,190 | ||||
Encumbrances | 0 | ||||
Ocean Crest [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Solana Beach, CA | ||||
Real Estate And Accumulated Depreciation Units | 146 | ||||
Initial Cost to Company, Land | 5,111,200 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,910,438 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,935,597 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,111,200 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 14,846,035 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 19,957,235 | ||||
Accumulated Depreciation | -8,670,106 | ||||
Investment in Real Estate Net | 11,287,129 | ||||
Encumbrances | 0 | ||||
Olde Redmond Place [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Redmond, WA | ||||
Real Estate And Accumulated Depreciation Units | 192 | ||||
Initial Cost to Company, Land | 4,807,100 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,126,038 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,477,139 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,807,100 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,603,177 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 23,410,277 | ||||
Accumulated Depreciation | -11,824,788 | ||||
Investment in Real Estate Net | 11,585,489 | ||||
Encumbrances | 0 | ||||
One Henry Adams [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Francisco, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 30,952,393 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 8,970,233 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 30,952,393 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 8,970,233 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 39,922,626 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 39,922,626 | ||||
Encumbrances | 0 | ||||
Orchard Ridge [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Lynnwood, WA | ||||
Real Estate And Accumulated Depreciation Units | 104 | ||||
Initial Cost to Company, Land | 480,600 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,372,033 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,640,650 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 480,600 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 6,012,683 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 6,493,283 | ||||
Accumulated Depreciation | -4,200,950 | ||||
Investment in Real Estate Net | 2,292,333 | ||||
Encumbrances | 0 | ||||
Pacific Place [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 430 | ||||
Initial Cost to Company, Land | 32,250,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 110,750,000 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 572,991 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 32,250,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 111,322,991 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 143,572,991 | ||||
Accumulated Depreciation | -9,391,616 | ||||
Investment in Real Estate Net | 134,181,375 | ||||
Encumbrances | 0 | ||||
Palm Trace Landings [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Davie, FL | ||||
Real Estate And Accumulated Depreciation Units | 768 | ||||
Initial Cost to Company, Land | 38,400,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 105,693,432 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,412,321 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 38,400,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 110,105,753 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 148,505,753 | ||||
Accumulated Depreciation | -39,754,320 | ||||
Investment in Real Estate Net | 108,751,433 | ||||
Encumbrances | 0 | ||||
Parc 77 [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 137 | ||||
Initial Cost to Company, Land | 40,504,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,025,679 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,211,253 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 40,504,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 23,236,932 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 63,740,932 | ||||
Accumulated Depreciation | -9,380,110 | ||||
Investment in Real Estate Net | 54,360,822 | ||||
Encumbrances | 0 | ||||
Parc Cameron [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 166 | ||||
Initial Cost to Company, Land | 37,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,855,597 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,069,564 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 37,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 15,925,161 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 53,525,161 | ||||
Accumulated Depreciation | -7,957,659 | ||||
Investment in Real Estate Net | 45,567,502 | ||||
Encumbrances | 0 | ||||
Parc Coliseum [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 177 | ||||
Initial Cost to Company, Land | 52,654,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,045,751 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,981,026 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 52,654,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 31,026,777 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 83,680,777 | ||||
Accumulated Depreciation | -12,833,483 | ||||
Investment in Real Estate Net | 70,847,294 | ||||
Encumbrances | 0 | ||||
Parc East Towers [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 324 | ||||
Initial Cost to Company, Land | 102,163,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 108,989,402 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,888,302 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 102,163,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 116,877,704 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 219,040,704 | ||||
Accumulated Depreciation | -35,905,223 | ||||
Investment in Real Estate Net | 183,135,481 | ||||
Encumbrances | 0 | ||||
Parc on Powell (fka Parkside at Emeryville) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Emeryville, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 16,657,467 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 55,107,488 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 16,657,467 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 55,107,488 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 71,764,955 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 71,764,955 | ||||
Encumbrances | 0 | ||||
Park Aire [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Wellington, FL | ||||
Real Estate And Accumulated Depreciation Units | 268 | ||||
Initial Cost to Company, Land | 8,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,917,239 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,790 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 40,925,029 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 48,925,029 | ||||
Accumulated Depreciation | -1,877,464 | ||||
Investment in Real Estate Net | 47,047,565 | ||||
Encumbrances | 0 | ||||
Park at Pentagon Row (fka Pentagon City) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 298 | ||||
Initial Cost to Company, Land | 28,300,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 78,838,184 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 313,935 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 28,300,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 79,152,119 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 107,452,119 | ||||
Accumulated Depreciation | -8,734,530 | ||||
Investment in Real Estate Net | 98,717,589 | ||||
Encumbrances | 0 | ||||
Park at Turtle Run The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Coral Springs, FL | ||||
Real Estate And Accumulated Depreciation Units | 257 | ||||
Initial Cost to Company, Land | 15,420,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,064,629 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,328,323 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,420,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 37,392,952 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 52,812,952 | ||||
Accumulated Depreciation | -14,395,758 | ||||
Investment in Real Estate Net | 38,417,194 | ||||
Encumbrances | 0 | ||||
Park Connecticut [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 142 | ||||
Initial Cost to Company, Land | 13,700,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 59,087,519 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 438,263 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,700,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 59,525,782 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 73,225,782 | ||||
Accumulated Depreciation | -5,926,288 | ||||
Investment in Real Estate Net | 67,299,494 | ||||
Encumbrances | 0 | ||||
Park Hacienda (fka Hacienda) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pleasanton, CA | ||||
Real Estate And Accumulated Depreciation Units | 540 | ||||
Initial Cost to Company, Land | 43,200,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 128,753,359 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 418,551 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 43,200,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 129,171,910 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 172,371,910 | ||||
Accumulated Depreciation | -15,002,224 | ||||
Investment in Real Estate Net | 157,369,686 | ||||
Encumbrances | 0 | ||||
Park West (CA) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 444 | ||||
Initial Cost to Company, Land | 3,033,500 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,302,383 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 8,693,445 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,033,500 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 35,995,828 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 39,029,328 | ||||
Accumulated Depreciation | -23,298,739 | ||||
Investment in Real Estate Net | 15,730,589 | ||||
Encumbrances | 0 | ||||
Parkfield [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Denver, CO | ||||
Real Estate And Accumulated Depreciation Units | 476 | ||||
Initial Cost to Company, Land | 8,330,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,667,618 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,305,900 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,330,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 31,973,518 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 40,303,518 | ||||
Accumulated Depreciation | -16,037,171 | ||||
Investment in Real Estate Net | 24,266,347 | ||||
Encumbrances | 0 | ||||
Parkside [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Union City, CA | ||||
Real Estate And Accumulated Depreciation Units | 208 | ||||
Initial Cost to Company, Land | 6,246,700 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,827,453 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,900,616 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,246,700 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 15,728,069 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,974,769 | ||||
Accumulated Depreciation | -10,008,760 | ||||
Investment in Real Estate Net | 11,966,009 | ||||
Encumbrances | 0 | ||||
Pegasus [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 322 | ||||
Initial Cost to Company, Land | 18,094,052 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 81,905,948 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,301,007 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 18,094,052 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 84,206,955 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 102,301,007 | ||||
Accumulated Depreciation | -16,114,037 | ||||
Investment in Real Estate Net | 86,186,970 | ||||
Encumbrances | 0 | ||||
Phillips Park [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Wellesley, MA | ||||
Real Estate And Accumulated Depreciation Units | 49 | ||||
Initial Cost to Company, Land | 816,922 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,460,955 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,092,085 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 816,922 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 6,553,040 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 7,369,962 | ||||
Accumulated Depreciation | -3,527,505 | ||||
Investment in Real Estate Net | 3,842,457 | ||||
Encumbrances | 0 | ||||
Playa Pacifica [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Hermosa Beach, CA | ||||
Real Estate And Accumulated Depreciation Units | 285 | ||||
Initial Cost to Company, Land | 35,100,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,473,822 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 8,205,881 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 35,100,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 41,679,703 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 76,779,703 | ||||
Accumulated Depreciation | -18,071,577 | ||||
Investment in Real Estate Net | 58,708,126 | ||||
Encumbrances | 0 | ||||
Portofino [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Chino Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 176 | ||||
Initial Cost to Company, Land | 3,572,400 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,660,994 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,469,722 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,572,400 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,130,716 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,703,116 | ||||
Accumulated Depreciation | -10,641,056 | ||||
Investment in Real Estate Net | 11,062,060 | ||||
Encumbrances | 0 | ||||
Portofino (Val) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Valencia, CA | ||||
Real Estate And Accumulated Depreciation Units | 216 | ||||
Initial Cost to Company, Land | 8,640,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,487,126 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,770,117 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,640,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 24,257,243 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 32,897,243 | ||||
Accumulated Depreciation | -12,417,735 | ||||
Investment in Real Estate Net | 20,479,508 | ||||
Encumbrances | 0 | ||||
Portside Towers [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Jersey City, NJ | ||||
Real Estate And Accumulated Depreciation Units | 527 | ||||
Initial Cost to Company, Land | 22,487,006 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 96,842,913 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 19,411,866 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 22,487,006 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 116,254,779 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 138,741,785 | ||||
Accumulated Depreciation | -66,421,447 | ||||
Investment in Real Estate Net | 72,320,338 | ||||
Encumbrances | 0 | ||||
Potrero [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Francisco, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 40,830,011 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,523,663 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 40,830,011 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 31,523,663 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 72,353,674 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 72,353,674 | ||||
Encumbrances | 0 | ||||
Prado (fka Glendale) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Glendale, CA | ||||
Real Estate And Accumulated Depreciation Units | 264 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 67,977,313 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,102,967 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 69,080,280 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 69,080,280 | ||||
Accumulated Depreciation | -7,364,217 | ||||
Investment in Real Estate Net | 61,716,063 | ||||
Encumbrances | 0 | ||||
Preserve at Deer Creek [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Deerfield Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 540 | ||||
Initial Cost to Company, Land | 13,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 60,011,208 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 11,156,351 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 71,167,559 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 84,667,559 | ||||
Accumulated Depreciation | -27,613,392 | ||||
Investment in Real Estate Net | 57,054,167 | ||||
Encumbrances | 0 | ||||
Prime, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 256 | ||||
Initial Cost to Company, Land | 32,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 64,436,539 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,229,561 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 32,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 65,666,100 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 97,666,100 | ||||
Accumulated Depreciation | -21,188,390 | ||||
Investment in Real Estate Net | 76,477,710 | ||||
Encumbrances | 0 | ||||
Promenade at Aventura [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Aventura, FL | ||||
Real Estate And Accumulated Depreciation Units | 296 | ||||
Initial Cost to Company, Land | 13,320,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,353,748 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,987,572 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,320,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 37,341,320 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 50,661,320 | ||||
Accumulated Depreciation | -18,578,470 | ||||
Investment in Real Estate Net | 32,082,850 | ||||
Encumbrances | 0 | ||||
Promenade at Town Center I [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Valencia, CA | ||||
Real Estate And Accumulated Depreciation Units | 294 | ||||
Initial Cost to Company, Land | 14,700,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,390,279 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,630,025 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,700,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 38,020,304 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 52,720,304 | ||||
Accumulated Depreciation | -15,471,823 | ||||
Investment in Real Estate Net | 37,248,481 | ||||
Encumbrances | 0 | ||||
Promenade at Tower Center II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Valencia, CA | ||||
Real Estate And Accumulated Depreciation Units | 270 | ||||
Initial Cost to Company, Land | 13,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,405,636 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,374,656 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 36,780,292 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 50,280,292 | ||||
Accumulated Depreciation | -14,862,278 | ||||
Investment in Real Estate Net | 35,418,014 | ||||
Encumbrances | 0 | ||||
Promenade at Wyndham Lakes [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Coral Springs, FL | ||||
Real Estate And Accumulated Depreciation Units | 332 | ||||
Initial Cost to Company, Land | 6,640,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,743,760 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,169,866 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,640,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 31,913,626 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 38,553,626 | ||||
Accumulated Depreciation | -16,302,998 | ||||
Investment in Real Estate Net | 22,250,628 | ||||
Encumbrances | 0 | ||||
Promenade Terrace [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Corona, CA | ||||
Real Estate And Accumulated Depreciation Units | 330 | ||||
Initial Cost to Company, Land | 2,272,800 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,546,289 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,975,907 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,272,800 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 26,522,196 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 28,794,996 | ||||
Accumulated Depreciation | -17,641,430 | ||||
Investment in Real Estate Net | 11,153,566 | ||||
Encumbrances | 0 | ||||
Quarry Hills [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Quincy, MA | ||||
Real Estate And Accumulated Depreciation Units | 316 | ||||
Initial Cost to Company, Land | 26,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 84,411,162 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 417,784 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 26,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 84,828,946 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 111,728,946 | ||||
Accumulated Depreciation | -9,818,230 | ||||
Investment in Real Estate Net | 101,910,716 | ||||
Encumbrances | 0 | ||||
Red 160 (fka Redmond Way) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Redmond, WA | ||||
Real Estate And Accumulated Depreciation Units | 250 | ||||
Initial Cost to Company, Land | 15,546,376 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 65,320,010 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 761,676 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,546,376 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 66,081,686 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 81,628,062 | ||||
Accumulated Depreciation | -8,975,666 | ||||
Investment in Real Estate Net | 72,652,396 | ||||
Encumbrances | 0 | ||||
Red Road Commons [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Miami, FL | ||||
Real Estate And Accumulated Depreciation Units | 404 | ||||
Initial Cost to Company, Land | 27,383,547 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 99,656,440 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,120,113 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 27,383,547 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 101,776,553 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 129,160,100 | ||||
Accumulated Depreciation | -18,087,040 | ||||
Investment in Real Estate Net | 111,073,060 | ||||
Encumbrances | 0 | ||||
Redmond Court [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bellevue, WA | ||||
Real Estate And Accumulated Depreciation Units | 206 | ||||
Initial Cost to Company, Land | 10,300,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,488,745 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 607,648 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,300,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 34,096,393 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 44,396,393 | ||||
Accumulated Depreciation | -3,981,275 | ||||
Investment in Real Estate Net | 40,415,118 | ||||
Encumbrances | 0 | ||||
Regency Palms [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Huntington Beach, CA | ||||
Real Estate And Accumulated Depreciation Units | 310 | ||||
Initial Cost to Company, Land | 1,857,400 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,713,254 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,435,303 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,857,400 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 22,148,557 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 24,005,957 | ||||
Accumulated Depreciation | -15,007,785 | ||||
Investment in Real Estate Net | 8,998,172 | ||||
Encumbrances | 0 | ||||
Renaissance Villas [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Berkeley, CA | ||||
Real Estate And Accumulated Depreciation Units | 34 | ||||
Initial Cost to Company, Land | 2,458,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 4,542,000 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 140,950 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,458,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 4,682,950 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 7,140,950 | ||||
Accumulated Depreciation | -1,389,449 | ||||
Investment in Real Estate Net | 5,751,501 | ||||
Encumbrances | 0 | ||||
Reserve at Ashley Lake [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boynton Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 440 | ||||
Initial Cost to Company, Land | 3,520,400 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,332,494 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,923,362 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,520,400 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 30,255,856 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 33,776,256 | ||||
Accumulated Depreciation | -18,742,933 | ||||
Investment in Real Estate Net | 15,033,323 | ||||
Encumbrances | 0 | ||||
Reserve at Mountain View (fka Mountain View) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Mountain View, CA | ||||
Real Estate And Accumulated Depreciation Units | 180 | ||||
Initial Cost to Company, Land | 27,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,029,605 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 242,910 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 27,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 33,272,515 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 60,272,515 | ||||
Accumulated Depreciation | -4,243,783 | ||||
Investment in Real Estate Net | 56,028,732 | ||||
Encumbrances | 0 | ||||
Reserve At Town Center II (WA) Member | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Mill Creek, WA | ||||
Real Estate And Accumulated Depreciation Units | 100 | ||||
Initial Cost to Company, Land | 4,310,417 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,165,142 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 84,183 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,310,417 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 17,249,325 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,559,742 | ||||
Accumulated Depreciation | -3,154,760 | ||||
Investment in Real Estate Net | 18,404,982 | ||||
Encumbrances | 0 | ||||
Reserve at Town Center III [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Mill Creek, WA | ||||
Real Estate And Accumulated Depreciation Units | 95 | ||||
Initial Cost to Company, Land | 2,089,388 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,174,300 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,431 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,089,388 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,175,731 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,265,119 | ||||
Accumulated Depreciation | -736,100 | ||||
Investment in Real Estate Net | 20,529,019 | ||||
Encumbrances | 0 | ||||
Residences at Bayview [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pompano Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 225 | ||||
Initial Cost to Company, Land | 5,783,545 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 39,334,455 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,213,792 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,783,545 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 40,548,247 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 46,331,792 | ||||
Accumulated Depreciation | -9,079,046 | ||||
Investment in Real Estate Net | 37,252,746 | ||||
Encumbrances | 0 | ||||
Residences at Westgate I (fka Westage II) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pasadena, CA | ||||
Real Estate And Accumulated Depreciation Units | 252 | ||||
Initial Cost to Company, Land | 17,859,785 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 106,746,558 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 17,859,785 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 106,746,558 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 124,606,343 | ||||
Accumulated Depreciation | -1,278,424 | ||||
Investment in Real Estate Net | 123,327,919 | ||||
Encumbrances | 0 | ||||
Residences at Westgate II (fka Westgage III) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pasadena, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 12,118,061 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,542,963 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,118,061 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 33,542,963 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 45,661,024 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 45,661,024 | ||||
Encumbrances | 0 | ||||
Reunion at Redmond Ridge (fka Redmond Ridge) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Redmond, WA | ||||
Real Estate And Accumulated Depreciation Units | 321 | ||||
Initial Cost to Company, Land | 6,975,705 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 46,175,001 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 300,070 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,975,705 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 46,475,071 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 53,450,776 | ||||
Accumulated Depreciation | -11,417,545 | ||||
Investment in Real Estate Net | 42,033,231 | ||||
Encumbrances | 0 | ||||
Rianna I [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 78 | ||||
Initial Cost to Company, Land | 2,268,160 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,864,482 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 425,331 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,268,160 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 15,289,813 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 17,557,973 | ||||
Accumulated Depreciation | -3,897,325 | ||||
Investment in Real Estate Net | 13,660,648 | ||||
Encumbrances | 0 | ||||
Ridgewood Village I&II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Diego, CA | ||||
Real Estate And Accumulated Depreciation Units | 408 | ||||
Initial Cost to Company, Land | 11,809,500 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,004,048 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,650,898 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 11,809,500 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 38,654,946 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 50,464,446 | ||||
Accumulated Depreciation | -19,997,912 | ||||
Investment in Real Estate Net | 30,466,534 | ||||
Encumbrances | 0 | ||||
Riva Terra I (fka Redwood Shores) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Redwood City, CA | ||||
Real Estate And Accumulated Depreciation Units | 304 | ||||
Initial Cost to Company, Land | 34,963,355 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 84,587,658 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 957,762 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 34,963,355 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 85,545,420 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 120,508,775 | ||||
Accumulated Depreciation | -9,986,376 | ||||
Investment in Real Estate Net | 110,522,399 | ||||
Encumbrances | 0 | ||||
Riva Terra II (fka Harborside) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Redwood City, CA | ||||
Real Estate And Accumulated Depreciation Units | 149 | ||||
Initial Cost to Company, Land | 17,136,645 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,536,531 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,331,562 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 17,136,645 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 41,868,093 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 59,004,738 | ||||
Accumulated Depreciation | -4,516,747 | ||||
Investment in Real Estate Net | 54,487,991 | ||||
Encumbrances | 0 | ||||
River Tower [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 323 | ||||
Initial Cost to Company, Land | 118,669,441 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 98,880,559 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,781,678 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 118,669,441 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 104,662,237 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 223,331,678 | ||||
Accumulated Depreciation | -28,053,948 | ||||
Investment in Real Estate Net | 195,277,730 | ||||
Encumbrances | 0 | ||||
Riverpark [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Redmond, WA | ||||
Real Estate And Accumulated Depreciation Units | 319 | ||||
Initial Cost to Company, Land | 14,355,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 80,894,049 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 625,094 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,355,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 81,519,143 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 95,874,143 | ||||
Accumulated Depreciation | -11,733,102 | ||||
Investment in Real Estate Net | 84,141,041 | ||||
Encumbrances | 0 | ||||
Rivers Bend (CT) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Windsor, CT | ||||
Real Estate And Accumulated Depreciation Units | 373 | ||||
Initial Cost to Company, Land | 3,325,517 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,573,826 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,186,964 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,325,517 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 25,760,790 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 29,086,307 | ||||
Accumulated Depreciation | -13,537,132 | ||||
Investment in Real Estate Net | 15,549,175 | ||||
Encumbrances | 0 | ||||
Riverview Condominiums [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Norwalk, CT | ||||
Real Estate And Accumulated Depreciation Units | 92 | ||||
Initial Cost to Company, Land | 2,300,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,406,730 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,467,328 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,300,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 9,874,058 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 12,174,058 | ||||
Accumulated Depreciation | -5,541,526 | ||||
Investment in Real Estate Net | 6,632,532 | ||||
Encumbrances | 0 | ||||
Rolling Green (Milford) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Milford, MA | ||||
Real Estate And Accumulated Depreciation Units | 304 | ||||
Initial Cost to Company, Land | 2,012,350 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,452,150 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,922,309 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,012,350 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,374,459 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,386,809 | ||||
Accumulated Depreciation | -10,707,965 | ||||
Investment in Real Estate Net | 10,678,844 | ||||
Encumbrances | 0 | ||||
Rosecliff II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Quincy, MA | ||||
Real Estate And Accumulated Depreciation Units | 130 | ||||
Initial Cost to Company, Land | 4,922,840 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 30,202,160 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 477,564 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,922,840 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 30,679,724 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 35,602,564 | ||||
Accumulated Depreciation | -5,256,770 | ||||
Investment in Real Estate Net | 30,345,794 | ||||
Encumbrances | 0 | ||||
Sabal Pointe [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Coral Springs, FL | ||||
Real Estate And Accumulated Depreciation Units | 276 | ||||
Initial Cost to Company, Land | 1,951,600 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,570,508 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,140,842 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,951,600 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 24,711,350 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 26,662,950 | ||||
Accumulated Depreciation | -15,728,545 | ||||
Investment in Real Estate Net | 10,934,405 | ||||
Encumbrances | 0 | ||||
Sage Condominium Homes, LLC [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Everett, WA | ||||
Real Estate And Accumulated Depreciation Units | 123 | ||||
Initial Cost to Company, Land | 2,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,021,256 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 632,845 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 12,654,101 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 15,154,101 | ||||
Accumulated Depreciation | -4,686,644 | ||||
Investment in Real Estate Net | 10,467,457 | ||||
Encumbrances | 0 | ||||
Sakura Crossing [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 230 | ||||
Initial Cost to Company, Land | 14,641,990 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 42,858,010 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 445,099 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,641,990 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 43,303,109 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 57,945,099 | ||||
Accumulated Depreciation | -8,084,997 | ||||
Investment in Real Estate Net | 49,860,102 | ||||
Encumbrances | 0 | ||||
Savoy at Dayton Station I & II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Aurora, CO | ||||
Real Estate And Accumulated Depreciation Units | 444 | ||||
Initial Cost to Company, Land | 5,450,295 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,765,670 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,405,215 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,450,295 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 42,170,885 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 47,621,180 | ||||
Accumulated Depreciation | -17,320,767 | ||||
Investment in Real Estate Net | 30,300,413 | ||||
Encumbrances | 0 | ||||
Savoy at Dayton Station III (fka Savoy III) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Aurora, CO | ||||
Real Estate And Accumulated Depreciation Units | 168 | ||||
Initial Cost to Company, Land | 659,165 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,274,302 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 79,142 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 659,165 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 21,353,444 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 22,012,609 | ||||
Accumulated Depreciation | -2,539,418 | ||||
Investment in Real Estate Net | 19,473,191 | ||||
Encumbrances | 0 | ||||
Scarborough Square [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Rockville, MD | ||||
Real Estate And Accumulated Depreciation Units | 121 | ||||
Initial Cost to Company, Land | 1,815,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,608,126 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,968,824 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,815,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 10,576,950 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 12,391,950 | ||||
Accumulated Depreciation | -6,577,786 | ||||
Investment in Real Estate Net | 5,814,164 | ||||
Encumbrances | 0 | ||||
Seventh & James [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 96 | ||||
Initial Cost to Company, Land | 663,800 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,974,803 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,665,212 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 663,800 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 9,640,015 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 10,303,815 | ||||
Accumulated Depreciation | -6,286,805 | ||||
Investment in Real Estate Net | 4,017,010 | ||||
Encumbrances | 0 | ||||
Shadow Creek [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Winter Springs, FL | ||||
Real Estate And Accumulated Depreciation Units | 280 | ||||
Initial Cost to Company, Land | 6,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,719,768 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,299,111 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 24,018,879 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 30,018,879 | ||||
Accumulated Depreciation | -9,913,377 | ||||
Investment in Real Estate Net | 20,105,502 | ||||
Encumbrances | 0 | ||||
Sheffield Court [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 597 | ||||
Initial Cost to Company, Land | 3,342,381 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 31,337,332 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 13,400,936 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,342,381 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 44,738,268 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 48,080,649 | ||||
Accumulated Depreciation | -29,786,965 | ||||
Investment in Real Estate Net | 18,293,684 | ||||
Encumbrances | 0 | ||||
Sheridan Lake Club [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Dania Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 240 | ||||
Initial Cost to Company, Land | 12,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,170,580 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,964,151 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 25,134,731 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 37,134,731 | ||||
Accumulated Depreciation | -9,437,897 | ||||
Investment in Real Estate Net | 27,696,834 | ||||
Encumbrances | 0 | ||||
Sheridan Ocean Club Combined [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Dania Beach, FL | ||||
Real Estate And Accumulated Depreciation Units | 648 | ||||
Initial Cost to Company, Land | 18,313,414 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 47,091,594 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 17,651,928 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 18,313,414 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 64,743,522 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 83,056,936 | ||||
Accumulated Depreciation | -32,954,888 | ||||
Investment in Real Estate Net | 50,102,048 | ||||
Encumbrances | 0 | ||||
Skycrest [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Valencia, CA | ||||
Real Estate And Accumulated Depreciation Units | 264 | ||||
Initial Cost to Company, Land | 10,560,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,574,457 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,362,878 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,560,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 27,937,335 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 38,497,335 | ||||
Accumulated Depreciation | -14,051,911 | ||||
Investment in Real Estate Net | 24,445,424 | ||||
Encumbrances | 0 | ||||
Skylark [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Union City, CA | ||||
Real Estate And Accumulated Depreciation Units | 174 | ||||
Initial Cost to Company, Land | 1,781,600 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,731,916 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,659,208 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,781,600 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,391,124 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,172,724 | ||||
Accumulated Depreciation | -10,873,674 | ||||
Investment in Real Estate Net | 10,299,050 | ||||
Encumbrances | 0 | ||||
Skyline Terrace [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Burlingame, CA | ||||
Real Estate And Accumulated Depreciation Units | 138 | ||||
Initial Cost to Company, Land | 16,836,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,414,000 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,187,335 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 16,836,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 39,601,335 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 56,437,335 | ||||
Accumulated Depreciation | -8,225,224 | ||||
Investment in Real Estate Net | 48,212,111 | ||||
Encumbrances | 0 | ||||
Skyline Towers [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Falls Church, VA | ||||
Real Estate And Accumulated Depreciation Units | 939 | ||||
Initial Cost to Company, Land | 78,278,200 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 91,485,591 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 32,273,806 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 78,278,200 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 123,759,397 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 202,037,597 | ||||
Accumulated Depreciation | -54,795,726 | ||||
Investment in Real Estate Net | 147,241,871 | ||||
Encumbrances | 0 | ||||
Sonterra at Foothill Ranch [Domain] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Foothill Ranch, CA | ||||
Real Estate And Accumulated Depreciation Units | 300 | ||||
Initial Cost to Company, Land | 7,503,400 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,048,507 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,564,362 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,503,400 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 26,612,869 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 34,116,269 | ||||
Accumulated Depreciation | -15,189,055 | ||||
Investment in Real Estate Net | 18,927,214 | ||||
Encumbrances | 0 | ||||
South City Station (fka South San Francisco) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Francisco, CA | ||||
Real Estate And Accumulated Depreciation Units | 360 | ||||
Initial Cost to Company, Land | 68,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 79,476,861 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,392,508 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 68,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 80,869,369 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 149,769,369 | ||||
Accumulated Depreciation | -9,849,234 | ||||
Investment in Real Estate Net | 139,920,135 | ||||
Encumbrances | 0 | ||||
South Winds [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Fall River, MA | ||||
Real Estate And Accumulated Depreciation Units | 404 | ||||
Initial Cost to Company, Land | 2,481,821 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,780,359 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,195,897 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,481,821 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 21,976,256 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 24,458,077 | ||||
Accumulated Depreciation | -12,085,135 | ||||
Investment in Real Estate Net | 12,372,942 | ||||
Encumbrances | 0 | ||||
Southwood [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Palo Alto, CA | ||||
Real Estate And Accumulated Depreciation Units | 100 | ||||
Initial Cost to Company, Land | 6,936,600 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,324,069 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,085,293 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,936,600 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 17,409,362 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 24,345,962 | ||||
Accumulated Depreciation | -10,084,791 | ||||
Investment in Real Estate Net | 14,261,171 | ||||
Encumbrances | 0 | ||||
Springbrook Estates [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Riverside, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 18,200,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 18,200,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 18,200,000 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 18,200,000 | ||||
Encumbrances | 0 | ||||
Square One [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 112 | ||||
Initial Cost to Company, Land | 7,222,544 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,277,456 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | -4 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,222,544 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 26,277,452 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 33,499,996 | ||||
Accumulated Depreciation | -93,215 | ||||
Investment in Real Estate Net | 33,406,781 | ||||
Encumbrances | 0 | ||||
St. Andrews at Winston Park [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Coconut Creek, FL | ||||
Real Estate And Accumulated Depreciation Units | 284 | ||||
Initial Cost to Company, Land | 5,680,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,812,090 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,167,806 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,680,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 24,979,896 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 30,659,896 | ||||
Accumulated Depreciation | -11,483,152 | ||||
Investment in Real Estate Net | 19,176,744 | ||||
Encumbrances | 0 | ||||
Summerset Village II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Chatsworth, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 260,646 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 260,646 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 260,646 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 260,646 | ||||
Encumbrances | 0 | ||||
Summit And Birch Hill [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Farmington, CT | ||||
Real Estate And Accumulated Depreciation Units | 186 | ||||
Initial Cost to Company, Land | 1,757,438 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,748,112 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,477,936 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,757,438 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 15,226,048 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 16,983,486 | ||||
Accumulated Depreciation | -8,409,730 | ||||
Investment in Real Estate Net | 8,573,756 | ||||
Encumbrances | 0 | ||||
Summit at Lake Union [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 150 | ||||
Initial Cost to Company, Land | 1,424,700 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,852,461 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,489,502 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,424,700 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 17,341,963 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 18,766,663 | ||||
Accumulated Depreciation | -10,565,888 | ||||
Investment in Real Estate Net | 8,200,775 | ||||
Encumbrances | 0 | ||||
Summit at Sausalito (fka Sausalito) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Sausalito, CA | ||||
Real Estate And Accumulated Depreciation Units | 198 | ||||
Initial Cost to Company, Land | 26,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 28,435,024 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,373,534 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 26,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 29,808,558 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 55,808,558 | ||||
Accumulated Depreciation | -4,476,616 | ||||
Investment in Real Estate Net | 51,331,942 | ||||
Encumbrances | 0 | ||||
Tallman [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 16,842,249 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,951,437 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 16,842,249 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 38,951,437 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 55,793,686 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 55,793,686 | ||||
Encumbrances | 0 | ||||
Tasman (fka Vista Montana - Residential) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Jose, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 27,709,329 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 91,844,910 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 27,709,329 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 91,844,910 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 119,554,239 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 119,554,239 | ||||
Encumbrances | 0 | ||||
Ten23 (fka 500 West 23rd Street) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 111 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 58,856,293 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 109,788 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 58,966,081 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 58,966,081 | ||||
Accumulated Depreciation | -6,036,550 | ||||
Investment in Real Estate Net | 52,929,531 | ||||
Encumbrances | 0 | ||||
Terraces, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Francisco, CA | ||||
Real Estate And Accumulated Depreciation Units | 117 | ||||
Initial Cost to Company, Land | 14,087,610 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,314,151 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 698,702 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,087,610 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 17,012,853 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 31,100,463 | ||||
Accumulated Depreciation | -3,403,077 | ||||
Investment in Real Estate Net | 27,697,386 | ||||
Encumbrances | 0 | ||||
Third Square [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Cambridge, MA | ||||
Real Estate And Accumulated Depreciation Units | 471 | ||||
Initial Cost to Company, Land | 26,767,171 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 218,822,728 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,859,006 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 26,767,171 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 222,681,734 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 249,448,905 | ||||
Accumulated Depreciation | -46,866,757 | ||||
Investment in Real Estate Net | 202,582,148 | ||||
Encumbrances | 0 | ||||
Three20 [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 134 | ||||
Initial Cost to Company, Land | 7,030,766 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,078,811 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 324,200 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,030,766 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 29,403,011 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 36,433,777 | ||||
Accumulated Depreciation | -1,679,563 | ||||
Investment in Real Estate Net | 34,754,214 | ||||
Encumbrances | 0 | ||||
Tortuga Bay [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Orlando, FL | ||||
Real Estate And Accumulated Depreciation Units | 314 | ||||
Initial Cost to Company, Land | 6,280,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 32,121,779 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,652,231 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,280,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 33,774,010 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 40,054,010 | ||||
Accumulated Depreciation | -12,539,818 | ||||
Investment in Real Estate Net | 27,514,192 | ||||
Encumbrances | 0 | ||||
Town Center South Commercial Tract [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | St. Charles, MD | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 1,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,499 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 5,499 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 1,505,499 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 1,505,499 | ||||
Encumbrances | 0 | ||||
Town Square at Mark Center II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Alexandria, VA | ||||
Real Estate And Accumulated Depreciation Units | 272 | ||||
Initial Cost to Company, Land | 15,568,464 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 55,029,607 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 674,851 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,568,464 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 55,704,458 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 71,272,922 | ||||
Accumulated Depreciation | -12,914,649 | ||||
Investment in Real Estate Net | 58,358,273 | ||||
Encumbrances | 0 | ||||
Trump Place, 140 Riverside [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 354 | ||||
Initial Cost to Company, Land | 103,539,100 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 94,082,725 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,343,151 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 103,539,100 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 98,425,876 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 201,964,976 | ||||
Accumulated Depreciation | -33,587,819 | ||||
Investment in Real Estate Net | 168,377,157 | ||||
Encumbrances | 0 | ||||
Trump Place, 160 Riverside [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 455 | ||||
Initial Cost to Company, Land | 139,933,500 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 190,964,745 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 10,315,504 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 139,933,500 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 201,280,249 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 341,213,749 | ||||
Accumulated Depreciation | -67,180,501 | ||||
Investment in Real Estate Net | 274,033,248 | ||||
Encumbrances | 0 | ||||
Trump Place, 180 Riverside [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 516 | ||||
Initial Cost to Company, Land | 144,968,250 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 138,346,681 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 8,758,301 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 144,968,250 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 147,104,982 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 292,073,232 | ||||
Accumulated Depreciation | -50,963,924 | ||||
Investment in Real Estate Net | 241,109,308 | ||||
Encumbrances | 0 | ||||
Urbana (fka Market Street Landing) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 287 | ||||
Initial Cost to Company, Land | 12,542,418 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 74,247,060 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 592,913 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,542,418 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 74,839,973 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 87,382,391 | ||||
Accumulated Depreciation | -2,706,973 | ||||
Investment in Real Estate Net | 84,675,418 | ||||
Encumbrances | 0 | ||||
Uwajimaya Village [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 176 | ||||
Initial Cost to Company, Land | 8,800,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,188,288 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 463,663 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,800,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 22,651,951 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 31,451,951 | ||||
Accumulated Depreciation | -8,690,210 | ||||
Investment in Real Estate Net | 22,761,741 | ||||
Encumbrances | 0 | ||||
Vantage Pointe [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Diego, CA | ||||
Real Estate And Accumulated Depreciation Units | 679 | ||||
Initial Cost to Company, Land | 9,403,960 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 190,596,040 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,068,618 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,403,960 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 196,664,658 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 206,068,618 | ||||
Accumulated Depreciation | -37,027,336 | ||||
Investment in Real Estate Net | 169,041,282 | ||||
Encumbrances | 0 | ||||
Veloce [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Redmond, WA | ||||
Real Estate And Accumulated Depreciation Units | 322 | ||||
Initial Cost to Company, Land | 15,322,724 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 76,176,594 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 253,112 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,322,724 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 76,429,706 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 91,752,430 | ||||
Accumulated Depreciation | -7,951,300 | ||||
Investment in Real Estate Net | 83,801,130 | ||||
Encumbrances | 0 | ||||
Verde Condominium Homes (fka Mission Verde, LLC) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Jose, CA | ||||
Real Estate And Accumulated Depreciation Units | 108 | ||||
Initial Cost to Company, Land | 5,190,700 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,679,109 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,659,737 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,190,700 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 13,338,846 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 18,529,546 | ||||
Accumulated Depreciation | -8,271,659 | ||||
Investment in Real Estate Net | 10,257,887 | ||||
Encumbrances | 0 | ||||
Veridian (fka Silver Spring) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Silver Spring, MD | ||||
Real Estate And Accumulated Depreciation Units | 457 | ||||
Initial Cost to Company, Land | 18,539,817 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 130,407,365 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,187,628 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 18,539,817 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 131,594,993 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 150,134,810 | ||||
Accumulated Depreciation | -25,425,869 | ||||
Investment in Real Estate Net | 124,708,941 | ||||
Encumbrances | 0 | ||||
Villa Solana [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Laguna Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 272 | ||||
Initial Cost to Company, Land | 1,665,100 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,985,678 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 9,004,790 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,665,100 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 23,990,468 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 25,655,568 | ||||
Accumulated Depreciation | -16,477,170 | ||||
Investment in Real Estate Net | 9,178,398 | ||||
Encumbrances | 0 | ||||
Village at Bear Creek [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Lakewood, CO | ||||
Real Estate And Accumulated Depreciation Units | 472 | ||||
Initial Cost to Company, Land | 4,519,700 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,676,390 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,730,669 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,519,700 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 46,407,059 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 50,926,759 | ||||
Accumulated Depreciation | -28,337,074 | ||||
Investment in Real Estate Net | 22,589,685 | ||||
Encumbrances | 0 | ||||
Village at Del Mar Heights, The (fka Del Mar Heights) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Diego, CA | ||||
Real Estate And Accumulated Depreciation Units | 168 | ||||
Initial Cost to Company, Land | 15,100,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,859,396 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 252,027 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,100,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 41,111,423 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 56,211,423 | ||||
Accumulated Depreciation | -4,661,947 | ||||
Investment in Real Estate Net | 51,549,476 | ||||
Encumbrances | 0 | ||||
Village at Howard Hughes (Lots 1&2) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 43,783,485 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 42,858,234 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 43,783,485 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 42,858,234 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 86,641,719 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 86,641,719 | ||||
Encumbrances | 0 | ||||
Virginia Square [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 231 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 85,940,003 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,862,631 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 87,802,634 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 87,802,634 | ||||
Accumulated Depreciation | -9,021,044 | ||||
Investment in Real Estate Net | 78,781,590 | ||||
Encumbrances | 0 | ||||
Vista Del Lago [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Mission Viejo, CA | ||||
Real Estate And Accumulated Depreciation Units | 608 | ||||
Initial Cost to Company, Land | 4,525,800 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,736,293 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 15,509,600 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,525,800 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 56,245,893 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 60,771,693 | ||||
Accumulated Depreciation | -39,353,877 | ||||
Investment in Real Estate Net | 21,417,816 | ||||
Encumbrances | 0 | ||||
Walden Park [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Cambridge, MA | ||||
Real Estate And Accumulated Depreciation Units | 232 | ||||
Initial Cost to Company, Land | 12,448,888 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 52,044,448 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,585,931 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,448,888 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 55,630,379 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 68,079,267 | ||||
Accumulated Depreciation | -10,279,717 | ||||
Investment in Real Estate Net | 57,799,550 | ||||
Encumbrances | 0 | ||||
Waterford Place (CO) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Thornton, CO | ||||
Real Estate And Accumulated Depreciation Units | 336 | ||||
Initial Cost to Company, Land | 5,040,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,946,419 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,892,852 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,040,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 31,839,271 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 36,879,271 | ||||
Accumulated Depreciation | -13,850,610 | ||||
Investment in Real Estate Net | 23,028,661 | ||||
Encumbrances | 0 | ||||
Watertown Square [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Watertown, MA | ||||
Real Estate And Accumulated Depreciation Units | 134 | ||||
Initial Cost to Company, Land | 16,800,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,074,056 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 273,661 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 16,800,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 34,347,717 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 51,147,717 | ||||
Accumulated Depreciation | -3,888,131 | ||||
Investment in Real Estate Net | 47,259,586 | ||||
Encumbrances | 0 | ||||
Webster Green [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Needham, MA | ||||
Real Estate And Accumulated Depreciation Units | 77 | ||||
Initial Cost to Company, Land | 1,418,893 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,485,006 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,311,268 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,418,893 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 10,796,274 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 12,215,167 | ||||
Accumulated Depreciation | -5,513,744 | ||||
Investment in Real Estate Net | 6,701,423 | ||||
Encumbrances | 0 | ||||
Welleby Lake Club [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Sunrise, FL | ||||
Real Estate And Accumulated Depreciation Units | 304 | ||||
Initial Cost to Company, Land | 3,648,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,620,879 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,006,733 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,648,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 23,627,612 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 27,275,612 | ||||
Accumulated Depreciation | -13,651,141 | ||||
Investment in Real Estate Net | 13,624,471 | ||||
Encumbrances | 0 | ||||
West 96th [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 207 | ||||
Initial Cost to Company, Land | 84,800,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 67,055,502 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,691,019 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 84,800,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 68,746,521 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 153,546,521 | ||||
Accumulated Depreciation | -10,502,306 | ||||
Investment in Real Estate Net | 143,044,215 | ||||
Encumbrances | 0 | ||||
West End Apartments (fka Emerson Place/ CRP II) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boston, MA | ||||
Real Estate And Accumulated Depreciation Units | 310 | ||||
Initial Cost to Company, Land | 469,546 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 163,123,022 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,657,912 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 469,546 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 164,780,934 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 165,250,480 | ||||
Accumulated Depreciation | -38,899,184 | ||||
Investment in Real Estate Net | 126,351,296 | ||||
Encumbrances | 0 | ||||
Westchester at Pavilions [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Waldorf, MD | ||||
Real Estate And Accumulated Depreciation Units | 491 | ||||
Initial Cost to Company, Land | 11,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 89,612,465 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 454,376 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 11,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 90,066,841 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 101,966,841 | ||||
Accumulated Depreciation | -8,949,050 | ||||
Investment in Real Estate Net | 93,017,791 | ||||
Encumbrances | 0 | ||||
Westchester at Rockville [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Rockville, MD | ||||
Real Estate And Accumulated Depreciation Units | 192 | ||||
Initial Cost to Company, Land | 10,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,135,207 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 277,296 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 44,412,503 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 55,012,503 | ||||
Accumulated Depreciation | -5,009,486 | ||||
Investment in Real Estate Net | 50,003,017 | ||||
Encumbrances | 0 | ||||
Westmont [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 163 | ||||
Initial Cost to Company, Land | 64,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,143,259 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 761,971 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 64,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 61,905,230 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 126,805,230 | ||||
Accumulated Depreciation | -7,967,408 | ||||
Investment in Real Estate Net | 118,837,822 | ||||
Encumbrances | 0 | ||||
Westside [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 204 | ||||
Initial Cost to Company, Land | 34,200,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 56,962,630 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,269,381 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 34,200,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 58,232,011 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 92,432,011 | ||||
Accumulated Depreciation | -6,264,171 | ||||
Investment in Real Estate Net | 86,167,840 | ||||
Encumbrances | 0 | ||||
Westside Villas I [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 21 | ||||
Initial Cost to Company, Land | 1,785,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,233,254 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 357,453 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,785,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 3,590,707 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 5,375,707 | ||||
Accumulated Depreciation | -1,813,481 | ||||
Investment in Real Estate Net | 3,562,226 | ||||
Encumbrances | 0 | ||||
Westside Villas II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 23 | ||||
Initial Cost to Company, Land | 1,955,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,541,435 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 250,691 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,955,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 3,792,126 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 5,747,126 | ||||
Accumulated Depreciation | -1,850,426 | ||||
Investment in Real Estate Net | 3,896,700 | ||||
Encumbrances | 0 | ||||
Westside Villas III [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 36 | ||||
Initial Cost to Company, Land | 3,060,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,538,871 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 377,157 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,060,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 5,916,028 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 8,976,028 | ||||
Accumulated Depreciation | -2,880,318 | ||||
Investment in Real Estate Net | 6,095,710 | ||||
Encumbrances | 0 | ||||
Westside Villas IV [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 36 | ||||
Initial Cost to Company, Land | 3,060,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,539,390 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 385,604 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,060,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 5,924,994 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 8,984,994 | ||||
Accumulated Depreciation | -2,887,551 | ||||
Investment in Real Estate Net | 6,097,443 | ||||
Encumbrances | 0 | ||||
Westside Villas V [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 60 | ||||
Initial Cost to Company, Land | 5,100,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,224,485 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 657,592 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,100,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 9,882,077 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 14,982,077 | ||||
Accumulated Depreciation | -4,823,944 | ||||
Investment in Real Estate Net | 10,158,133 | ||||
Encumbrances | 0 | ||||
Westside Villas VI [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 18 | ||||
Initial Cost to Company, Land | 1,530,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,023,523 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 318,754 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,530,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 3,342,277 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 4,872,277 | ||||
Accumulated Depreciation | -1,665,408 | ||||
Investment in Real Estate Net | 3,206,869 | ||||
Encumbrances | 0 | ||||
Westside Villas VII [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 53 | ||||
Initial Cost to Company, Land | 4,505,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,758,900 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 616,684 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,505,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 11,375,584 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 15,880,584 | ||||
Accumulated Depreciation | -4,960,551 | ||||
Investment in Real Estate Net | 10,920,033 | ||||
Encumbrances | 0 | ||||
Westwood Glen [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Westwood, MA | ||||
Real Estate And Accumulated Depreciation Units | 156 | ||||
Initial Cost to Company, Land | 1,616,505 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,806,004 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,225,649 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,616,505 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 13,031,653 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 14,648,158 | ||||
Accumulated Depreciation | -6,710,710 | ||||
Investment in Real Estate Net | 7,937,448 | ||||
Encumbrances | 0 | ||||
Windridge (CA) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Laguna Niguel, CA | ||||
Real Estate And Accumulated Depreciation Units | 344 | ||||
Initial Cost to Company, Land | 2,662,900 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,985,497 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 8,684,076 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,662,900 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 32,669,573 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 35,332,473 | ||||
Accumulated Depreciation | -21,637,211 | ||||
Investment in Real Estate Net | 13,695,262 | ||||
Encumbrances | 0 | ||||
Winston, The (FL) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pembroke Pines, FL | ||||
Real Estate And Accumulated Depreciation Units | 464 | ||||
Initial Cost to Company, Land | 18,561,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 49,527,569 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,852,872 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 18,561,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 52,380,441 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 70,941,441 | ||||
Accumulated Depreciation | -18,475,139 | ||||
Investment in Real Estate Net | 52,466,302 | ||||
Encumbrances | 0 | ||||
Wood Creek I [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pleasant Hill, CA | ||||
Real Estate And Accumulated Depreciation Units | 256 | ||||
Initial Cost to Company, Land | 9,729,900 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,009,768 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,555,668 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,729,900 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 29,565,436 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 39,295,336 | ||||
Accumulated Depreciation | -17,862,164 | ||||
Investment in Real Estate Net | 21,433,172 | ||||
Encumbrances | 0 | ||||
Woodbridge (CT) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Newington, CT | ||||
Real Estate And Accumulated Depreciation Units | 73 | ||||
Initial Cost to Company, Land | 498,377 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 3,331,548 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,266,343 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 498,377 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 4,597,891 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 5,096,268 | ||||
Accumulated Depreciation | -2,465,999 | ||||
Investment in Real Estate Net | 2,630,269 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | 0 | ||||
Woodlake (WA) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Kirkland, WA | ||||
Real Estate And Accumulated Depreciation Units | 288 | ||||
Initial Cost to Company, Land | 6,631,400 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,735,484 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,790,078 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,631,400 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 20,525,562 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 27,156,962 | ||||
Accumulated Depreciation | -12,057,883 | ||||
Investment in Real Estate Net | 15,099,079 | ||||
Encumbrances | 0 | ||||
Woodland Park [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | East Palo Alto, CA | ||||
Real Estate And Accumulated Depreciation Units | 1,809 | ||||
Initial Cost to Company, Land | 72,627,418 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 57,649,069 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 9,382,472 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 72,627,418 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 67,031,541 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 139,658,959 | ||||
Accumulated Depreciation | -24,058,784 | ||||
Investment in Real Estate Net | 115,600,175 | ||||
Encumbrances | 0 | ||||
Management Business [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Chicago, IL | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 0 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 103,392,322 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 103,392,322 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 103,392,322 | ||||
Accumulated Depreciation | -79,507,853 | ||||
Investment in Real Estate Net | 23,884,469 | ||||
Encumbrances | 0 | ||||
Operating Partnership [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Chicago, IL | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 1,434,910 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 1,434,910 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 1,434,910 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 1,434,910 | ||||
Encumbrances | 0 | ||||
Wholly Owned Unencumbered [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Units | 69,217 | ||||
Initial Cost to Company, Land | 4,798,437,902 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,737,799,082 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,002,255,162 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,798,437,902 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 13,740,054,244 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 18,538,492,146 | ||||
Accumulated Depreciation | -3,650,524,741 | ||||
Investment in Real Estate Net | 14,887,967,405 | ||||
Encumbrances | 0 | ||||
101 West End [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 506 | ||||
Initial Cost to Company, Land | 190,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 131,374,708 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,868,722 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 190,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 133,243,430 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 323,843,430 | ||||
Accumulated Depreciation | -19,903,961 | ||||
Investment in Real Estate Net | 303,939,469 | ||||
Encumbrances | 104,781,651 | ||||
1401 Joyce On Pentagon Row [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 326 | ||||
Initial Cost to Company, Land | 9,780,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 89,668,165 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 793,393 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,780,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 90,461,558 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 100,241,558 | ||||
Accumulated Depreciation | -22,366,104 | ||||
Investment in Real Estate Net | 77,875,454 | ||||
Encumbrances | 57,428,472 | ||||
2501 Porter [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 202 | ||||
Initial Cost to Company, Land | 13,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 75,271,179 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,555,253 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 76,826,432 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 89,826,432 | ||||
Accumulated Depreciation | -7,789,697 | ||||
Investment in Real Estate Net | 82,036,735 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
300 East 39th (fka East 39th) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 254 | ||||
Initial Cost to Company, Land | 48,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 96,174,639 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 868,920 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 48,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 97,043,559 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 145,943,559 | ||||
Accumulated Depreciation | -11,236,211 | ||||
Investment in Real Estate Net | 134,707,348 | ||||
Encumbrances | 59,449,107 | ||||
3003 Van Ness (fka Van Ness) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 625 | ||||
Initial Cost to Company, Land | 56,300,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 141,191,580 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,514,645 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 56,300,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 143,706,225 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 200,006,225 | ||||
Accumulated Depreciation | -16,968,210 | ||||
Investment in Real Estate Net | 183,038,015 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (K) | [1] | |||
303 East 83rd (fka Camargue) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 261 | ||||
Initial Cost to Company, Land | 79,400,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 79,122,624 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 738,175 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 79,400,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 79,860,799 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 159,260,799 | ||||
Accumulated Depreciation | -10,706,970 | ||||
Investment in Real Estate Net | 148,553,829 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
425 Broadway [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Santa Monica, CA | ||||
Real Estate And Accumulated Depreciation Units | 101 | ||||
Initial Cost to Company, Land | 12,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,394,772 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 680,943 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 35,075,715 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 47,675,715 | ||||
Accumulated Depreciation | -3,569,288 | ||||
Investment in Real Estate Net | 44,106,427 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
4701 Willard [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Chevy Chase, MD | ||||
Real Estate And Accumulated Depreciation Units | 513 | ||||
Initial Cost to Company, Land | 76,921,130 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 153,947,682 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 20,688,968 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 76,921,130 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 174,636,650 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 251,557,780 | ||||
Accumulated Depreciation | -24,386,428 | ||||
Investment in Real Estate Net | 227,171,352 | ||||
Encumbrances | 98,427,692 | ||||
55 West Fifth I & II (fka Townhouse Plaza and Gardens) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Mateo, CA | ||||
Real Estate And Accumulated Depreciation Units | 241 | ||||
Initial Cost to Company, Land | 21,041,710 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 71,931,323 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 8,114,511 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 21,041,710 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 80,045,834 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 101,087,544 | ||||
Accumulated Depreciation | -9,767,221 | ||||
Investment in Real Estate Net | 91,320,323 | ||||
Encumbrances | 29,128,487 | ||||
77 Park Avenue (fka Hoboken) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Hoboken, NJ | ||||
Real Estate And Accumulated Depreciation Units | 301 | ||||
Initial Cost to Company, Land | 27,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 168,992,440 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,559,417 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 27,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 170,551,857 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 198,451,857 | ||||
Accumulated Depreciation | -16,271,604 | ||||
Investment in Real Estate Net | 182,180,253 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (K) | [1] | |||
800 Sixth Ave (fka Chelsea) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 266 | ||||
Initial Cost to Company, Land | 59,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 155,861,605 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 218,240 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 59,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 156,079,845 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 215,979,845 | ||||
Accumulated Depreciation | -16,645,847 | ||||
Investment in Real Estate Net | 199,333,998 | ||||
Encumbrances | 76,680,282 | ||||
929 House [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Cambridge, MA | ||||
Real Estate And Accumulated Depreciation Units | 127 | ||||
Initial Cost to Company, Land | 3,252,993 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,745,595 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,861,409 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,252,993 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 27,607,004 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 30,859,997 | ||||
Accumulated Depreciation | -13,677,315 | ||||
Investment in Real Estate Net | 17,182,682 | ||||
Encumbrances | 1,784,337 | ||||
Academy Village [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | North Hollywood, CA | ||||
Real Estate And Accumulated Depreciation Units | 248 | ||||
Initial Cost to Company, Land | 25,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,593,194 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,244,947 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 25,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 30,838,141 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 55,838,141 | ||||
Accumulated Depreciation | -14,131,888 | ||||
Investment in Real Estate Net | 41,706,253 | ||||
Encumbrances | 20,000,000 | ||||
Acappella [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pasadena, CA | ||||
Real Estate And Accumulated Depreciation Units | 143 | ||||
Initial Cost to Company, Land | 5,839,548 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,360,452 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 902,132 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,839,548 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 30,262,584 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 36,102,132 | ||||
Accumulated Depreciation | -6,456,855 | ||||
Investment in Real Estate Net | 29,645,277 | ||||
Encumbrances | 19,842,607 | ||||
Acton Courtyard [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Berkeley, CA | ||||
Real Estate And Accumulated Depreciation Units | 71 | ||||
Initial Cost to Company, Land | 5,550,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,785,509 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 174,547 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,550,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 15,960,056 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,510,056 | ||||
Accumulated Depreciation | -5,066,680 | ||||
Investment in Real Estate Net | 16,443,376 | ||||
Encumbrances | 9,920,000 | ||||
Alborada [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Fremont, CA | ||||
Real Estate And Accumulated Depreciation Units | 442 | ||||
Initial Cost to Company, Land | 24,310,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 59,214,129 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,040,631 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 24,310,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 62,254,760 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 86,564,760 | ||||
Accumulated Depreciation | -31,791,543 | ||||
Investment in Real Estate Net | 54,773,217 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (I) | [1] | |||
Alcyone [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 161 | ||||
Initial Cost to Company, Land | 11,379,497 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 49,360,503 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | -9 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 11,379,497 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 49,360,494 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 60,739,991 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 60,739,991 | ||||
Encumbrances | 28,910,000 | ||||
Arches, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Sunnyvale, CA | ||||
Real Estate And Accumulated Depreciation Units | 410 | ||||
Initial Cost to Company, Land | 26,650,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 62,850,000 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 851,025 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 26,650,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 63,701,025 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 90,351,025 | ||||
Accumulated Depreciation | -12,837,616 | ||||
Investment in Real Estate Net | 77,513,409 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Artech Building [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Berkeley, CA | ||||
Real Estate And Accumulated Depreciation Units | 21 | ||||
Initial Cost to Company, Land | 1,642,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,152,518 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 260,646 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,642,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 9,413,164 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 11,055,164 | ||||
Accumulated Depreciation | -2,729,697 | ||||
Investment in Real Estate Net | 8,325,467 | ||||
Encumbrances | 3,200,000 | ||||
Artisan Square [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Northridge, CA | ||||
Real Estate And Accumulated Depreciation Units | 140 | ||||
Initial Cost to Company, Land | 7,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,537,359 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,064,325 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 21,601,684 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 28,601,684 | ||||
Accumulated Depreciation | -9,217,575 | ||||
Investment in Real Estate Net | 19,384,109 | ||||
Encumbrances | 22,779,715 | ||||
Avanti [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Anaheim, CA | ||||
Real Estate And Accumulated Depreciation Units | 162 | ||||
Initial Cost to Company, Land | 12,960,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,497,683 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,314,548 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,960,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,812,231 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 32,772,231 | ||||
Accumulated Depreciation | -7,174,217 | ||||
Investment in Real Estate Net | 25,598,014 | ||||
Encumbrances | 18,169,458 | ||||
Avenir [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boston, MA | ||||
Real Estate And Accumulated Depreciation Units | 241 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 114,321,619 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 551,758 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 114,873,377 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 114,873,377 | ||||
Accumulated Depreciation | -12,259,457 | ||||
Investment in Real Estate Net | 102,613,920 | ||||
Encumbrances | 94,465,696 | ||||
Bachenheimer Building [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Berkeley, CA | ||||
Real Estate And Accumulated Depreciation Units | 44 | ||||
Initial Cost to Company, Land | 3,439,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,866,379 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 124,166 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,439,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 13,990,545 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 17,429,545 | ||||
Accumulated Depreciation | -4,228,536 | ||||
Investment in Real Estate Net | 13,201,009 | ||||
Encumbrances | 8,585,000 | ||||
Bella Vista I, II, III Combined [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Woodland Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 579 | ||||
Initial Cost to Company, Land | 31,682,754 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 121,095,786 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,885,108 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 31,682,754 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 123,980,894 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 155,663,648 | ||||
Accumulated Depreciation | -40,957,341 | ||||
Investment in Real Estate Net | 114,706,307 | ||||
Encumbrances | 58,055,099 | ||||
Berkeleyan [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Berkeley, CA | ||||
Real Estate And Accumulated Depreciation Units | 56 | ||||
Initial Cost to Company, Land | 4,377,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,022,110 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 321,597 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,377,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 16,343,707 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 20,720,707 | ||||
Accumulated Depreciation | -5,080,620 | ||||
Investment in Real Estate Net | 15,640,087 | ||||
Encumbrances | 8,290,000 | ||||
Calvert Woodley [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 136 | ||||
Initial Cost to Company, Land | 12,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 43,527,379 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 733,195 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 44,260,574 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 56,860,574 | ||||
Accumulated Depreciation | -5,010,638 | ||||
Investment in Real Estate Net | 51,849,936 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
Canterbury [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Germantown, MD | ||||
Real Estate And Accumulated Depreciation Units | 544 | ||||
Initial Cost to Company, Land | 2,781,300 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 32,942,531 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 15,098,222 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,781,300 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 48,040,753 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 50,822,053 | ||||
Accumulated Depreciation | -33,408,506 | ||||
Investment in Real Estate Net | 17,413,547 | ||||
Encumbrances | 31,680,000 | ||||
Carmel Terrace [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Diego, CA | ||||
Real Estate And Accumulated Depreciation Units | 384 | ||||
Initial Cost to Company, Land | 2,288,300 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,596,281 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 10,568,110 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,288,300 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 31,164,391 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 33,452,691 | ||||
Accumulated Depreciation | -22,658,333 | ||||
Investment in Real Estate Net | 10,794,358 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Chelsea Square [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Redmond, WA | ||||
Real Estate And Accumulated Depreciation Units | 113 | ||||
Initial Cost to Company, Land | 3,397,100 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 9,289,074 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,788,938 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,397,100 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 11,078,012 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 14,475,112 | ||||
Accumulated Depreciation | -6,337,147 | ||||
Investment in Real Estate Net | 8,137,965 | ||||
Encumbrances | 9,270,000 | ||||
Citrus Suites [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Santa Monica, CA | ||||
Real Estate And Accumulated Depreciation Units | 70 | ||||
Initial Cost to Company, Land | 9,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,950,326 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 123,388 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 17,073,714 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 26,073,714 | ||||
Accumulated Depreciation | -1,867,465 | ||||
Investment in Real Estate Net | 24,206,249 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
CityView at Longwood [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Boston, MA | ||||
Real Estate And Accumulated Depreciation Units | 295 | ||||
Initial Cost to Company, Land | 14,704,898 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 79,195,102 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 9,272,973 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,704,898 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 88,468,075 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 103,172,973 | ||||
Accumulated Depreciation | -17,874,351 | ||||
Investment in Real Estate Net | 85,298,622 | ||||
Encumbrances | 23,780,076 | ||||
Clarendon, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 292 | ||||
Initial Cost to Company, Land | 30,400,340 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 103,824,660 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,980,446 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 30,400,340 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 105,805,106 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 136,205,446 | ||||
Accumulated Depreciation | -18,582,643 | ||||
Investment in Real Estate Net | 117,622,803 | ||||
Encumbrances | 40,376,421 | ||||
Cleveland House [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 214 | ||||
Initial Cost to Company, Land | 18,300,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 66,392,414 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,085,128 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 18,300,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 67,477,542 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 85,777,542 | ||||
Accumulated Depreciation | -7,336,935 | ||||
Investment in Real Estate Net | 78,440,607 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
Columbia Crossing [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 247 | ||||
Initial Cost to Company, Land | 23,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 53,045,073 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,524,626 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 23,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 54,569,699 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 78,069,699 | ||||
Accumulated Depreciation | -6,390,653 | ||||
Investment in Real Estate Net | 71,679,046 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
Connecticut Heights [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 518 | ||||
Initial Cost to Company, Land | 27,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 114,002,295 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 523,868 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 27,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 114,526,163 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 142,126,163 | ||||
Accumulated Depreciation | -12,120,961 | ||||
Investment in Real Estate Net | 130,005,202 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (K) | [1] | |||
Deerwood (SD) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Diego, CA | ||||
Real Estate And Accumulated Depreciation Units | 316 | ||||
Initial Cost to Company, Land | 2,082,095 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,739,815 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 14,095,827 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,082,095 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 32,835,642 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 34,917,737 | ||||
Accumulated Depreciation | -23,757,806 | ||||
Investment in Real Estate Net | 11,159,931 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Del Mar Ridge [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Diego, CA | ||||
Real Estate And Accumulated Depreciation Units | 181 | ||||
Initial Cost to Company, Land | 7,801,824 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,948,176 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,108,004 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,801,824 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 40,056,180 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 47,858,004 | ||||
Accumulated Depreciation | -10,328,077 | ||||
Investment in Real Estate Net | 37,529,927 | ||||
Encumbrances | 23,789,381 | ||||
Estancia at Santa Clara (fka Santa Clara) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Santa Clara, CA | ||||
Real Estate And Accumulated Depreciation Units | 450 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 123,759,804 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 526,676 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 124,286,480 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 124,286,480 | ||||
Accumulated Depreciation | -13,537,262 | ||||
Investment in Real Estate Net | 110,749,218 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
Fairchase [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Fairfax, VA | ||||
Real Estate And Accumulated Depreciation Units | 392 | ||||
Initial Cost to Company, Land | 23,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 87,722,321 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 269,692 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 23,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 87,992,013 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 111,492,013 | ||||
Accumulated Depreciation | -9,395,216 | ||||
Investment in Real Estate Net | 102,096,797 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
Fairfield [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Stamford, CT | ||||
Real Estate And Accumulated Depreciation Units | 263 | ||||
Initial Cost to Company, Land | 6,510,200 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 39,690,120 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,459,297 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,510,200 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 46,149,417 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 52,659,617 | ||||
Accumulated Depreciation | -27,466,826 | ||||
Investment in Real Estate Net | 25,192,791 | ||||
Encumbrances | 34,595,000 | ||||
Fine Arts Building [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Berkeley, CA | ||||
Real Estate And Accumulated Depreciation Units | 100 | ||||
Initial Cost to Company, Land | 7,817,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,462,772 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 302,689 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,817,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 26,765,461 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 34,582,461 | ||||
Accumulated Depreciation | -8,237,485 | ||||
Investment in Real Estate Net | 26,344,976 | ||||
Encumbrances | 16,215,000 | ||||
Flats at DuPont Circle [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Washington, D.C. | ||||
Real Estate And Accumulated Depreciation Units | 306 | ||||
Initial Cost to Company, Land | 35,200,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 108,768,198 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 504,057 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 35,200,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 109,272,255 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 144,472,255 | ||||
Accumulated Depreciation | -11,204,638 | ||||
Investment in Real Estate Net | 133,267,617 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
Gaia Building [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Berkeley, CA | ||||
Real Estate And Accumulated Depreciation Units | 91 | ||||
Initial Cost to Company, Land | 7,113,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,623,826 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 225,339 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,113,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 25,849,165 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 32,962,165 | ||||
Accumulated Depreciation | -7,962,885 | ||||
Investment in Real Estate Net | 24,999,280 | ||||
Encumbrances | 14,630,000 | ||||
Gaithersburg Station [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Gaithersburg, MD | ||||
Real Estate And Accumulated Depreciation Units | 389 | ||||
Initial Cost to Company, Land | 17,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 74,556,144 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 231,854 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 17,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 74,787,998 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 92,287,998 | ||||
Accumulated Depreciation | -6,934,203 | ||||
Investment in Real Estate Net | 85,353,795 | ||||
Encumbrances | 98,884,291 | ||||
Gateway at Malden Center [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Malden, MA | ||||
Real Estate And Accumulated Depreciation Units | 203 | ||||
Initial Cost to Company, Land | 9,209,780 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,722,666 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 12,495,969 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,209,780 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 38,218,635 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 47,428,415 | ||||
Accumulated Depreciation | -17,530,227 | ||||
Investment in Real Estate Net | 29,898,188 | ||||
Encumbrances | 14,970,000 | ||||
Glo [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 201 | ||||
Initial Cost to Company, Land | 16,047,023 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 48,650,963 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 394,064 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 16,047,023 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 49,045,027 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 65,092,050 | ||||
Accumulated Depreciation | -8,010,461 | ||||
Investment in Real Estate Net | 57,081,589 | ||||
Encumbrances | 31,938,525 | ||||
Hathaway [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Long Beach, CA | ||||
Real Estate And Accumulated Depreciation Units | 385 | ||||
Initial Cost to Company, Land | 2,512,500 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 22,611,912 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,849,296 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,512,500 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 30,461,208 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 32,973,708 | ||||
Accumulated Depreciation | -20,670,436 | ||||
Investment in Real Estate Net | 12,303,272 | ||||
Encumbrances | 46,517,800 | ||||
Heights on Capitol Hill [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 104 | ||||
Initial Cost to Company, Land | 5,425,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,138,028 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 265,813 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,425,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 21,403,841 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 26,828,841 | ||||
Accumulated Depreciation | -6,924,808 | ||||
Investment in Real Estate Net | 19,904,033 | ||||
Encumbrances | 28,180,585 | ||||
Heronfield [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Kirkland, WA | ||||
Real Estate And Accumulated Depreciation Units | 202 | ||||
Initial Cost to Company, Land | 9,245,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 27,017,749 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,262,931 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,245,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 29,280,680 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 38,525,680 | ||||
Accumulated Depreciation | -9,728,197 | ||||
Investment in Real Estate Net | 28,797,483 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Ivory Wood [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bothell, WA | ||||
Real Estate And Accumulated Depreciation Units | 144 | ||||
Initial Cost to Company, Land | 2,732,800 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,888,282 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 751,887 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,732,800 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 14,640,169 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 17,372,969 | ||||
Accumulated Depreciation | -5,844,211 | ||||
Investment in Real Estate Net | 11,528,758 | ||||
Encumbrances | 8,020,000 | ||||
Kelvin Court (fka Alta Pacific) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Irvine, CA | ||||
Real Estate And Accumulated Depreciation Units | 132 | ||||
Initial Cost to Company, Land | 10,752,145 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,649,929 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 248,840 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,752,145 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 34,898,769 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 45,650,914 | ||||
Accumulated Depreciation | -8,359,653 | ||||
Investment in Real Estate Net | 37,291,261 | ||||
Encumbrances | 26,495,000 | ||||
La Terrazza at Colma Station [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Colma, CA | ||||
Real Estate And Accumulated Depreciation Units | 153 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 41,251,044 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 642,535 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 41,893,579 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 41,893,579 | ||||
Accumulated Depreciation | -12,830,190 | ||||
Investment in Real Estate Net | 29,063,389 | ||||
Encumbrances | 25,175,000 | ||||
Laguna Clara [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Santa Clara, CA | ||||
Real Estate And Accumulated Depreciation Units | 264 | ||||
Initial Cost to Company, Land | 13,642,420 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,707,475 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,256,707 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,642,420 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 33,964,182 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 47,606,602 | ||||
Accumulated Depreciation | -14,568,252 | ||||
Investment in Real Estate Net | 33,038,350 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Liberty Park [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Braintree, MA | ||||
Real Estate And Accumulated Depreciation Units | 202 | ||||
Initial Cost to Company, Land | 5,977,504 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 26,749,111 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,730,323 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,977,504 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 30,479,434 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 36,456,938 | ||||
Accumulated Depreciation | -13,021,186 | ||||
Investment in Real Estate Net | 23,435,752 | ||||
Encumbrances | 24,980,280 | ||||
Liberty Tower [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 235 | ||||
Initial Cost to Company, Land | 16,382,822 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 83,817,078 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,124,478 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 16,382,822 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 84,941,556 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 101,324,378 | ||||
Accumulated Depreciation | -17,478,810 | ||||
Investment in Real Estate Net | 83,845,568 | ||||
Encumbrances | 46,865,218 | ||||
Lindley Apartments [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Encino, CA | ||||
Real Estate And Accumulated Depreciation Units | 129 | ||||
Initial Cost to Company, Land | 5,805,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 25,705,000 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 681,636 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,805,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 26,386,636 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 32,191,636 | ||||
Accumulated Depreciation | -5,246,707 | ||||
Investment in Real Estate Net | 26,944,929 | ||||
Encumbrances | 20,382,643 | ||||
Longview Place [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Waltham, MA | ||||
Real Estate And Accumulated Depreciation Units | 348 | ||||
Initial Cost to Company, Land | 20,880,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 90,255,509 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,770,380 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 20,880,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 94,025,889 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 114,905,889 | ||||
Accumulated Depreciation | -31,602,144 | ||||
Investment in Real Estate Net | 83,303,745 | ||||
Encumbrances | 60,073,423 | ||||
Market Street Village [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Diego, CA | ||||
Real Estate And Accumulated Depreciation Units | 229 | ||||
Initial Cost to Company, Land | 13,740,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 40,757,301 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,480,272 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 13,740,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 42,237,573 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 55,977,573 | ||||
Accumulated Depreciation | -13,620,631 | ||||
Investment in Real Estate Net | 42,356,942 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Marks [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Englewood, CO | ||||
Real Estate And Accumulated Depreciation Units | 616 | ||||
Initial Cost to Company, Land | 4,928,500 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,622,314 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 11,548,101 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,928,500 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 56,170,415 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 61,098,915 | ||||
Accumulated Depreciation | -34,206,804 | ||||
Investment in Real Estate Net | 26,892,111 | ||||
Encumbrances | 19,195,000 | ||||
Metro on First [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 102 | ||||
Initial Cost to Company, Land | 8,540,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,209,981 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 452,229 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,540,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 12,662,210 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,202,210 | ||||
Accumulated Depreciation | -4,480,929 | ||||
Investment in Real Estate Net | 16,721,281 | ||||
Encumbrances | 22,843,410 | ||||
Midtown 24 [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Plantation, FL | ||||
Real Estate And Accumulated Depreciation Units | 247 | ||||
Initial Cost to Company, Land | 10,129,900 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 58,770,100 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,401,853 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,129,900 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 60,171,953 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 70,301,853 | ||||
Accumulated Depreciation | -10,913,036 | ||||
Investment in Real Estate Net | 59,388,817 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Mill Creek [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Milpitas, CA | ||||
Real Estate And Accumulated Depreciation Units | 516 | ||||
Initial Cost to Company, Land | 12,858,693 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 57,168,503 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,442,026 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,858,693 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 62,610,529 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 75,469,222 | ||||
Accumulated Depreciation | -25,958,217 | ||||
Investment in Real Estate Net | 49,511,005 | ||||
Encumbrances | 69,312,259 | ||||
Moda [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 251 | ||||
Initial Cost to Company, Land | 12,649,228 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 36,842,012 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 751,889 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,649,228 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 37,593,901 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 50,243,129 | ||||
Accumulated Depreciation | -7,947,470 | ||||
Investment in Real Estate Net | 42,295,659 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (M) | [1] | |||
Monte Viejo [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Phoenix, AZ | ||||
Real Estate And Accumulated Depreciation Units | 480 | ||||
Initial Cost to Company, Land | 12,700,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 45,926,784 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,356,649 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,700,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 47,283,433 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 59,983,433 | ||||
Accumulated Depreciation | -18,448,547 | ||||
Investment in Real Estate Net | 41,534,886 | ||||
Encumbrances | 38,998,007 | ||||
Montierra (CA) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Diego, CA | ||||
Real Estate And Accumulated Depreciation Units | 272 | ||||
Initial Cost to Company, Land | 8,160,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,360,938 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 7,349,217 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,160,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 36,710,155 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 44,870,155 | ||||
Accumulated Depreciation | -20,207,547 | ||||
Investment in Real Estate Net | 24,662,608 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Mosaic at Metro [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Hyattsville, MD | ||||
Real Estate And Accumulated Depreciation Units | 260 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 59,580,898 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 396,392 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 59,977,290 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 59,977,290 | ||||
Accumulated Depreciation | -13,426,350 | ||||
Investment in Real Estate Net | 46,550,940 | ||||
Encumbrances | 43,349,098 | ||||
New River Cove [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Davie, FL | ||||
Real Estate And Accumulated Depreciation Units | 316 | ||||
Initial Cost to Company, Land | 15,800,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 46,142,895 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,112,295 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,800,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 48,255,190 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 64,055,190 | ||||
Accumulated Depreciation | -17,348,296 | ||||
Investment in Real Estate Net | 46,706,894 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
North Pier at Harborside [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Jersey City, NJ | ||||
Real Estate And Accumulated Depreciation Units | 297 | ||||
Initial Cost to Company, Land | 4,000,159 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 94,290,590 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,508,073 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,000,159 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 96,798,663 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 100,798,822 | ||||
Accumulated Depreciation | -35,934,228 | ||||
Investment in Real Estate Net | 64,864,594 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (I) | [1] | |||
Northpark [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Burlingame, CA | ||||
Real Estate And Accumulated Depreciation Units | 510 | ||||
Initial Cost to Company, Land | 38,607,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 77,477,449 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 11,535,799 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 38,607,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 89,013,248 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 127,620,248 | ||||
Accumulated Depreciation | -21,086,248 | ||||
Investment in Real Estate Net | 106,534,000 | ||||
Encumbrances | 62,833,873 | ||||
Oak Mill II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Germantown, MD | ||||
Real Estate And Accumulated Depreciation Units | 192 | ||||
Initial Cost to Company, Land | 854,133 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 10,233,947 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,614,557 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 854,133 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 16,848,504 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 17,702,637 | ||||
Accumulated Depreciation | -11,657,281 | ||||
Investment in Real Estate Net | 6,045,356 | ||||
Encumbrances | 9,600,000 | ||||
Oaks [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Santa Clarita, CA | ||||
Real Estate And Accumulated Depreciation Units | 520 | ||||
Initial Cost to Company, Land | 23,400,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,020,438 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,140,268 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 23,400,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 65,160,706 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 88,560,706 | ||||
Accumulated Depreciation | -27,139,584 | ||||
Investment in Real Estate Net | 61,421,122 | ||||
Encumbrances | 37,159,525 | ||||
Olympus Towers [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 328 | ||||
Initial Cost to Company, Land | 14,752,034 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 73,335,425 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,446,206 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 14,752,034 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 78,781,631 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 93,533,665 | ||||
Accumulated Depreciation | -30,519,078 | ||||
Investment in Real Estate Net | 63,014,587 | ||||
Encumbrances | 49,875,780 | ||||
Park Place at San Mateo (fka San Mateo) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Mateo, CA | ||||
Real Estate And Accumulated Depreciation Units | 575 | ||||
Initial Cost to Company, Land | 71,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 211,907,141 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,736,590 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 71,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 214,643,731 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 286,543,731 | ||||
Accumulated Depreciation | -22,552,999 | ||||
Investment in Real Estate Net | 263,990,732 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
Providence [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bothell, WA | ||||
Real Estate And Accumulated Depreciation Units | 200 | ||||
Initial Cost to Company, Land | 3,573,621 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,055,505 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 908,245 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,573,621 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 19,963,750 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 23,537,371 | ||||
Accumulated Depreciation | -8,060,429 | ||||
Investment in Real Estate Net | 15,476,942 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (I) | [1] | |||
Reserve at Clarendon Centre, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 252 | ||||
Initial Cost to Company, Land | 10,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 52,812,935 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,852,271 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 56,665,206 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 67,165,206 | ||||
Accumulated Depreciation | -22,423,199 | ||||
Investment in Real Estate Net | 44,742,007 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Reserve at Eisenhower, The [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Alexandria, VA | ||||
Real Estate And Accumulated Depreciation Units | 226 | ||||
Initial Cost to Company, Land | 6,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 34,585,060 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,407,205 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 35,992,265 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 42,492,265 | ||||
Accumulated Depreciation | -15,227,463 | ||||
Investment in Real Estate Net | 27,264,802 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Reserve at Empire Lakes [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Rancho Cucamonga, CA | ||||
Real Estate And Accumulated Depreciation Units | 467 | ||||
Initial Cost to Company, Land | 16,345,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 73,080,670 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,097,816 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 16,345,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 75,178,486 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 91,523,486 | ||||
Accumulated Depreciation | -25,847,398 | ||||
Investment in Real Estate Net | 65,676,088 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (I) | [1] | |||
Reserve at Fairfax Corners [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Fairfax, VA | ||||
Real Estate And Accumulated Depreciation Units | 652 | ||||
Initial Cost to Company, Land | 15,804,057 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 63,129,050 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,733,306 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,804,057 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 69,862,356 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 85,666,413 | ||||
Accumulated Depreciation | -29,870,640 | ||||
Investment in Real Estate Net | 55,795,773 | ||||
Encumbrances | 84,778,876 | ||||
Reserve at Potomac Yard [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Alexandria, VA | ||||
Real Estate And Accumulated Depreciation Units | 588 | ||||
Initial Cost to Company, Land | 11,918,917 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 68,862,641 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,341,718 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 11,918,917 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 75,204,359 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 87,123,276 | ||||
Accumulated Depreciation | -28,902,316 | ||||
Investment in Real Estate Net | 58,220,960 | ||||
Encumbrances | 66,470,000 | ||||
Reserve at Town Center (WA) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Mill Creek, WA | ||||
Real Estate And Accumulated Depreciation Units | 389 | ||||
Initial Cost to Company, Land | 10,369,400 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 41,172,081 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,404,316 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,369,400 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 43,576,397 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 53,945,797 | ||||
Accumulated Depreciation | -17,140,399 | ||||
Investment in Real Estate Net | 36,805,398 | ||||
Encumbrances | 29,160,000 | ||||
Rianna II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 78 | ||||
Initial Cost to Company, Land | 2,161,840 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 14,433,614 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 219,336 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,161,840 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 14,652,950 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 16,814,790 | ||||
Accumulated Depreciation | -3,719,806 | ||||
Investment in Real Estate Net | 13,094,984 | ||||
Encumbrances | 9,664,461 | ||||
Rockingham Glen [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | West Roxbury, MA | ||||
Real Estate And Accumulated Depreciation Units | 143 | ||||
Initial Cost to Company, Land | 1,124,217 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,515,160 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,127,798 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,124,217 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 9,642,958 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 10,767,175 | ||||
Accumulated Depreciation | -5,189,711 | ||||
Investment in Real Estate Net | 5,577,464 | ||||
Encumbrances | 732,326 | ||||
Siena Terrace [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Lake Forest, CA | ||||
Real Estate And Accumulated Depreciation Units | 356 | ||||
Initial Cost to Company, Land | 8,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,083,024 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,513,124 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 30,596,148 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 39,496,148 | ||||
Accumulated Depreciation | -16,196,382 | ||||
Investment in Real Estate Net | 23,299,766 | ||||
Encumbrances | 38,440,808 | ||||
Skyview [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Rancho Santa Margarita, CA | ||||
Real Estate And Accumulated Depreciation Units | 260 | ||||
Initial Cost to Company, Land | 3,380,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 21,952,863 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,762,747 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,380,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 24,715,610 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 28,095,610 | ||||
Accumulated Depreciation | -13,314,866 | ||||
Investment in Real Estate Net | 14,780,744 | ||||
Encumbrances | 30,889,928 | ||||
SoMa Square Apartments (fka South Market) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Francisco, CA | ||||
Real Estate And Accumulated Depreciation Units | 410 | ||||
Initial Cost to Company, Land | 79,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 177,316,977 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,711,818 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 79,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 180,028,795 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 259,928,795 | ||||
Accumulated Depreciation | -19,032,108 | ||||
Investment in Real Estate Net | 240,896,687 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
Stonegate (CO) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Broomfield, CO | ||||
Real Estate And Accumulated Depreciation Units | 350 | ||||
Initial Cost to Company, Land | 8,750,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 32,950,375 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,208,246 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,750,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 36,158,621 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 44,908,621 | ||||
Accumulated Depreciation | -13,931,379 | ||||
Investment in Real Estate Net | 30,977,242 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (I) | [1] | |||
Stoney Ridge [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Dale City, VA | ||||
Real Estate And Accumulated Depreciation Units | 264 | ||||
Initial Cost to Company, Land | 8,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 24,147,091 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,813,599 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 29,960,690 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 37,960,690 | ||||
Accumulated Depreciation | -13,117,254 | ||||
Investment in Real Estate Net | 24,843,436 | ||||
Encumbrances | 13,414,254 | ||||
Summerset Village [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Chatsworth, CA | ||||
Real Estate And Accumulated Depreciation Units | 280 | ||||
Initial Cost to Company, Land | 2,629,804 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,670,889 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,735,640 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,629,804 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 30,406,529 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 33,036,333 | ||||
Accumulated Depreciation | -18,638,374 | ||||
Investment in Real Estate Net | 14,397,959 | ||||
Encumbrances | 38,039,912 | ||||
Talleyrand [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Tarrytown, NY | ||||
Real Estate And Accumulated Depreciation Units | 300 | ||||
Initial Cost to Company, Land | 12,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 49,838,160 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,373,570 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 54,211,730 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 66,211,730 | ||||
Accumulated Depreciation | -25,824,997 | ||||
Investment in Real Estate Net | 40,386,733 | ||||
Encumbrances | 35,000,000 | ||||
Teresina [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Chula Vista, CA | ||||
Real Estate And Accumulated Depreciation Units | 440 | ||||
Initial Cost to Company, Land | 28,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 61,916,670 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,524,216 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 28,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 64,440,886 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 93,040,886 | ||||
Accumulated Depreciation | -23,028,983 | ||||
Investment in Real Estate Net | 70,011,903 | ||||
Encumbrances | 41,153,983 | ||||
Toscana [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Irvine, CA | ||||
Real Estate And Accumulated Depreciation Units | 563 | ||||
Initial Cost to Company, Land | 39,410,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 50,806,072 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 8,065,576 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 39,410,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 58,871,648 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 98,281,648 | ||||
Accumulated Depreciation | -30,358,453 | ||||
Investment in Real Estate Net | 67,923,195 | ||||
Encumbrances | 71,243,194 | ||||
Touriel Building [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Berkeley, CA | ||||
Real Estate And Accumulated Depreciation Units | 35 | ||||
Initial Cost to Company, Land | 2,736,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,810,027 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 173,049 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,736,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 7,983,076 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 10,719,076 | ||||
Accumulated Depreciation | -2,537,090 | ||||
Investment in Real Estate Net | 8,181,986 | ||||
Encumbrances | 5,050,000 | ||||
Town Square at Mark Center I (fka Millbrook I) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Alexandria, VA | ||||
Real Estate And Accumulated Depreciation Units | 406 | ||||
Initial Cost to Company, Land | 24,360,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 86,178,714 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,101,186 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 24,360,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 89,279,900 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 113,639,900 | ||||
Accumulated Depreciation | -31,779,511 | ||||
Investment in Real Estate Net | 81,860,389 | ||||
Encumbrances | 77,353,222 | ||||
Uptown Square [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Denver, CO | ||||
Real Estate And Accumulated Depreciation Units | 696 | ||||
Initial Cost to Company, Land | 17,492,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 100,696,541 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,323,125 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 17,492,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 105,019,666 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 122,511,666 | ||||
Accumulated Depreciation | -38,387,874 | ||||
Investment in Real Estate Net | 84,123,792 | ||||
Encumbrances | 99,190,116 | ||||
Versailles [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Woodland Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 253 | ||||
Initial Cost to Company, Land | 12,650,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 33,656,292 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,439,447 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 12,650,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 39,095,739 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 51,745,739 | ||||
Accumulated Depreciation | -16,887,476 | ||||
Investment in Real Estate Net | 34,858,263 | ||||
Encumbrances | 30,372,953 | ||||
Versailles (K-Town) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 225 | ||||
Initial Cost to Company, Land | 10,590,975 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,409,025 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,089,480 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,590,975 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 45,498,505 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 56,089,480 | ||||
Accumulated Depreciation | -10,851,277 | ||||
Investment in Real Estate Net | 45,238,203 | ||||
Encumbrances | 29,826,475 | ||||
Victor on Venice [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 115 | ||||
Initial Cost to Company, Land | 10,350,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,433,437 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 493,945 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 10,350,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 35,927,382 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 46,277,382 | ||||
Accumulated Depreciation | -11,164,686 | ||||
Investment in Real Estate Net | 35,112,696 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (J) | [1] | |||
Vintage [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Ontario, CA | ||||
Real Estate And Accumulated Depreciation Units | 300 | ||||
Initial Cost to Company, Land | 7,059,230 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 47,677,762 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 418,205 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,059,230 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 48,095,967 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 55,155,197 | ||||
Accumulated Depreciation | -15,673,129 | ||||
Investment in Real Estate Net | 39,482,068 | ||||
Encumbrances | 33,000,000 | ||||
Vintage at 425 Broadway (fka Promenade) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Santa Monica, CA | ||||
Real Estate And Accumulated Depreciation Units | 58 | ||||
Initial Cost to Company, Land | 9,000,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,961,523 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 354,858 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 9,000,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 14,316,381 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 23,316,381 | ||||
Accumulated Depreciation | -1,915,005 | ||||
Investment in Real Estate Net | 21,401,376 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (L) | [1] | |||
Vista on Courthouse [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 220 | ||||
Initial Cost to Company, Land | 15,550,260 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 69,449,740 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,100,172 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 15,550,260 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 70,549,912 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 86,100,172 | ||||
Accumulated Depreciation | -16,370,415 | ||||
Investment in Real Estate Net | 69,729,757 | ||||
Encumbrances | 31,380,000 | ||||
Water Park Towers [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Arlington, VA | ||||
Real Estate And Accumulated Depreciation Units | 362 | ||||
Initial Cost to Company, Land | 34,400,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 108,485,859 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,570,221 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 34,400,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 112,056,080 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 146,456,080 | ||||
Accumulated Depreciation | -12,141,171 | ||||
Investment in Real Estate Net | 134,314,909 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (K) | [1] | |||
West 54th [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 222 | ||||
Initial Cost to Company, Land | 60,900,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 48,193,837 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 320,475 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 60,900,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 48,514,312 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 109,414,312 | ||||
Accumulated Depreciation | -7,362,247 | ||||
Investment in Real Estate Net | 102,052,065 | ||||
Encumbrances | 46,859,227 | ||||
Westgate (fka Westgate I) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pasadena, CA | ||||
Real Estate And Accumulated Depreciation Units | 480 | ||||
Initial Cost to Company, Land | 22,898,848 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 133,553,692 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 348,871 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 22,898,848 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 133,902,563 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 156,801,411 | ||||
Accumulated Depreciation | -18,556,819 | ||||
Investment in Real Estate Net | 138,244,592 | ||||
Encumbrances | 96,935,000 | ||||
Woodleaf [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Campbell, CA | ||||
Real Estate And Accumulated Depreciation Units | 178 | ||||
Initial Cost to Company, Land | 8,550,600 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 16,988,183 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,312,027 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,550,600 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 21,300,210 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 29,850,810 | ||||
Accumulated Depreciation | -11,452,912 | ||||
Investment in Real Estate Net | 18,397,898 | ||||
Encumbrances | 17,858,854 | ||||
Wholly Owned Encumbered [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Units | 29,923 | ||||
Initial Cost to Company, Land | 1,889,558,099 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 5,894,004,795 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 330,213,229 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 6,224,218,024 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 8,113,776,123 | ||||
Accumulated Depreciation | 1,587,799,207 | ||||
Investment in Real Estate Net | 6,525,976,916 | ||||
Encumbrances | 4,726,035,749 | ||||
2300 Elliott [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 92 | ||||
Initial Cost to Company, Land | 796,800 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,173,725 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,244,167 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 796,800 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 13,417,892 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 14,214,692 | ||||
Accumulated Depreciation | -9,635,532 | ||||
Investment in Real Estate Net | 4,579,160 | ||||
Encumbrances | 0 | ||||
400 Park Aveue South (Toll) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 58,090,357 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 55,679,496 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 0 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 58,090,357 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 55,679,496 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 113,769,853 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 113,769,853 | ||||
Encumbrances | 0 | ||||
Canyon Ridge [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Diego, CA | ||||
Real Estate And Accumulated Depreciation Units | 162 | ||||
Initial Cost to Company, Land | 4,869,448 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 11,955,064 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,794,600 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,869,448 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 14,749,664 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 19,619,112 | ||||
Accumulated Depreciation | -8,662,269 | ||||
Investment in Real Estate Net | 10,956,843 | ||||
Encumbrances | 0 | ||||
Country Oaks [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Agoura Hills, CA | ||||
Real Estate And Accumulated Depreciation Units | 256 | ||||
Initial Cost to Company, Land | 6,105,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 29,561,865 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,053,877 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,105,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 33,615,742 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 39,720,742 | ||||
Accumulated Depreciation | -15,662,969 | ||||
Investment in Real Estate Net | 24,057,773 | ||||
Encumbrances | 0 | ||||
Fox Ridge [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Englewood, CO | ||||
Real Estate And Accumulated Depreciation Units | 300 | ||||
Initial Cost to Company, Land | 2,490,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 17,522,114 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,601,407 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,490,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 22,123,521 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 24,613,521 | ||||
Accumulated Depreciation | -11,718,055 | ||||
Investment in Real Estate Net | 12,895,466 | ||||
Encumbrances | 0 | ||||
Monterra in Mill Creek [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Mill Creek, WA | ||||
Real Estate And Accumulated Depreciation Units | 139 | ||||
Initial Cost to Company, Land | 2,800,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 13,255,123 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 670,037 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 2,800,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 13,925,160 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 16,725,160 | ||||
Accumulated Depreciation | -5,104,802 | ||||
Investment in Real Estate Net | 11,620,358 | ||||
Encumbrances | 0 | ||||
Prism at Park Avenue South (fka 400 Park Aveue South (EQR)) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | New York, NY | ||||
Real Estate And Accumulated Depreciation Units | 0 | ||||
Initial Cost to Company, Land | 76,292,169 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 150,666,648 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 11,603 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 76,292,169 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 150,678,251 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 226,970,420 | ||||
Accumulated Depreciation | 0 | ||||
Investment in Real Estate Net | 226,970,420 | ||||
Encumbrances | 0 | ||||
Strayhorse at Arrowhead Ranch [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Glendale, AZ | ||||
Real Estate And Accumulated Depreciation Units | 136 | ||||
Initial Cost to Company, Land | 4,400,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,968,002 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 443,437 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,400,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 13,411,439 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 17,811,439 | ||||
Accumulated Depreciation | -4,853,154 | ||||
Investment in Real Estate Net | 12,958,285 | ||||
Encumbrances | 0 | ||||
Via Ventura (CA) (fka Ventura) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Ventura, CA | ||||
Real Estate And Accumulated Depreciation Units | 192 | ||||
Initial Cost to Company, Land | 8,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 44,308,202 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 406,230 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 8,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 44,714,432 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 53,314,432 | ||||
Accumulated Depreciation | -5,214,735 | ||||
Investment in Real Estate Net | 48,099,697 | ||||
Encumbrances | 0 | ||||
Wood Creek II (fka Willow Brook (CA)) | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Pleasant Hill, CA | ||||
Real Estate And Accumulated Depreciation Units | 228 | ||||
Initial Cost to Company, Land | 5,055,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 38,388,672 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,889,178 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,055,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 43,277,850 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 48,332,850 | ||||
Accumulated Depreciation | -16,682,842 | ||||
Investment in Real Estate Net | 31,650,008 | ||||
Encumbrances | 0 | ||||
Partially Owned Unencumbered [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Units | 1,505 | ||||
Initial Cost to Company, Land | 169,498,774 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 381,478,911 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 24,114,536 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 169,498,774 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 405,593,447 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 575,092,221 | ||||
Accumulated Depreciation | -77,534,358 | ||||
Investment in Real Estate Net | 497,557,863 | ||||
Encumbrances | 0 | ||||
Bellevue Meadows [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bellevue, WA | ||||
Real Estate And Accumulated Depreciation Units | 180 | ||||
Initial Cost to Company, Land | 4,507,100 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 12,574,814 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,524,770 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,507,100 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 17,099,584 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 21,606,684 | ||||
Accumulated Depreciation | -10,473,761 | ||||
Investment in Real Estate Net | 11,132,923 | ||||
Encumbrances | 16,538,000 | ||||
Canyon Creek (CA) [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | San Ramon, CA | ||||
Real Estate And Accumulated Depreciation Units | 268 | ||||
Initial Cost to Company, Land | 5,425,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,812,121 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 6,427,590 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,425,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 25,239,711 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 30,664,711 | ||||
Accumulated Depreciation | -12,764,001 | ||||
Investment in Real Estate Net | 17,900,710 | ||||
Encumbrances | 28,200,000 | ||||
Harrison Square (fka Elliot Bay) [Domain] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Seattle, WA | ||||
Real Estate And Accumulated Depreciation Units | 166 | ||||
Initial Cost to Company, Land | 7,600,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 35,844,345 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 3,159,773 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 7,600,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 39,004,118 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 46,604,118 | ||||
Accumulated Depreciation | -3,837,725 | ||||
Investment in Real Estate Net | 42,766,393 | ||||
Real Estate And Accumulated Depreciation, Encumbrances Reference | (K) | [1] | |||
Isle at Arrowhead Ranch [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Glendale, AZ | ||||
Real Estate And Accumulated Depreciation Units | 256 | ||||
Initial Cost to Company, Land | 1,650,237 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,593,123 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,216,333 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 1,650,237 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 21,809,456 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 23,459,693 | ||||
Accumulated Depreciation | -13,005,000 | ||||
Investment in Real Estate Net | 10,454,693 | ||||
Encumbrances | 17,700,000 | ||||
Lantern Cove [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Foster City, CA | ||||
Real Estate And Accumulated Depreciation Units | 232 | ||||
Initial Cost to Company, Land | 6,945,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 23,064,976 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 5,705,946 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,945,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 28,770,922 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 35,715,922 | ||||
Accumulated Depreciation | -13,736,832 | ||||
Investment in Real Estate Net | 21,979,090 | ||||
Encumbrances | 36,455,000 | ||||
Rosecliff [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Quincy, MA | ||||
Real Estate And Accumulated Depreciation Units | 156 | ||||
Initial Cost to Company, Land | 5,460,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,721,570 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,561,718 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,460,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 18,283,288 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 23,743,288 | ||||
Accumulated Depreciation | -9,854,030 | ||||
Investment in Real Estate Net | 13,889,258 | ||||
Encumbrances | 17,400,000 | ||||
Schooner Bay I [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Foster City, CA | ||||
Real Estate And Accumulated Depreciation Units | 168 | ||||
Initial Cost to Company, Land | 5,345,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 20,390,618 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,756,784 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,345,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 25,147,402 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 30,492,402 | ||||
Accumulated Depreciation | -12,000,181 | ||||
Investment in Real Estate Net | 18,492,221 | ||||
Encumbrances | 28,870,000 | ||||
Schooner Bay II [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Foster City, CA | ||||
Real Estate And Accumulated Depreciation Units | 144 | ||||
Initial Cost to Company, Land | 4,550,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 18,064,764 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 4,275,408 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 4,550,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 22,340,172 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 26,890,172 | ||||
Accumulated Depreciation | -10,806,797 | ||||
Investment in Real Estate Net | 16,083,375 | ||||
Encumbrances | 26,175,000 | ||||
Surrey Downs [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Bellevue, WA | ||||
Real Estate And Accumulated Depreciation Units | 122 | ||||
Initial Cost to Company, Land | 3,057,100 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 7,848,618 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,407,669 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 3,057,100 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 10,256,287 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 13,313,387 | ||||
Accumulated Depreciation | -6,009,471 | ||||
Investment in Real Estate Net | 7,303,916 | ||||
Encumbrances | 9,829,000 | ||||
Virgil Square [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Los Angeles, CA | ||||
Real Estate And Accumulated Depreciation Units | 142 | ||||
Initial Cost to Company, Land | 5,500,000 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 15,216,613 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 2,175,257 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 5,500,000 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 17,391,870 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 22,891,870 | ||||
Accumulated Depreciation | -6,559,144 | ||||
Investment in Real Estate Net | 16,332,726 | ||||
Encumbrances | 9,900,000 | ||||
Wisconsin Place [Domain] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Description Of Location | Chevy Chase, MD | ||||
Real Estate And Accumulated Depreciation Units | 432 | ||||
Initial Cost to Company, Land | 0 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 172,089,355 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 550,832 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 0 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 172,640,187 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 172,640,187 | ||||
Accumulated Depreciation | -17,900,087 | ||||
Investment in Real Estate Net | 154,740,100 | ||||
Encumbrances | 144,571,681 | ||||
Partially Owned Encumbered [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Units | 2,266 | ||||
Initial Cost to Company, Land | 50,039,437 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 359,220,917 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 38,762,080 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 50,039,437 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 397,982,997 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 448,022,434 | ||||
Accumulated Depreciation | -116,947,029 | ||||
Investment in Real Estate Net | 331,075,405 | ||||
Encumbrances | 360,479,262 | ||||
Portfolio Entity Encumbrances [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Encumbrances | 2,124,179,543 | ||||
Total Consolidated Investment in Real Estate [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Real Estate And Accumulated Depreciation Units | 102,911 | ||||
Initial Cost to Company, Land | 6,907,534,212 | ||||
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements | 19,372,503,705 | ||||
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures | 1,395,345,007 | ||||
Gross Amount Carried at close of period 12/31/2013, Land | 6,907,534,212 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures | 20,767,848,712 | ||||
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures | 27,675,382,924 | ||||
Accumulated Depreciation | -5,432,805,335 | ||||
Investment in Real Estate Net | 22,242,577,589 | ||||
Encumbrances | 5,086,515,011 | ||||
Unconsolidated Operating [Domain] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Partially Owned Unconsolidated Properties | 3 | ||||
Partially Owned Unconsolidated Units | 1,281 | ||||
Depreciable Property [Member] | |||||
Real Estate and Accumulated Depreciation [Line Items] | |||||
Fixtures and Equipment, Gross | $1,365,276,528 | ||||
Building [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Property, Plant and Equipment, Estimated Useful Lives | 30 | ||||
Renovations and Improvements Minimum [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Property, Plant and Equipment, Estimated Useful Lives | 5 | ||||
Renovations and Improvements Maximum [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Property, Plant and Equipment, Estimated Useful Lives | 15 | ||||
Replacements Minimum [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Property, Plant and Equipment, Estimated Useful Lives | 5 | ||||
Replacements Maximum [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Property, Plant and Equipment, Estimated Useful Lives | 10 | ||||
Management Business Renovations and Improvements Minimum [Member] [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Property, Plant and Equipment, Estimated Useful Lives | 3 | ||||
Management Business Renovations and Improvements Maximum [Member] [Member] | |||||
Real Estates And Accumulated Depreciation Abstract | |||||
Property, Plant and Equipment, Estimated Useful Lives | 7 | ||||
[1] | (I)through (L)B See Encumbrances Reconciliation schedule. |