Equity Residential (EQR) 10-K 25 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 19, 2016	Jun. 30, 2015
Entity Registrant Name	EQUITY RESIDENTIAL
Entity Central Index Key	906,107
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		365,141,603
Entity Public Float			$ 25,200,000,000
ERPOP [Member]
Entity Registrant Name	ERP OPERATING LIMITED PARTNERSHIP
Entity Central Index Key	931,182
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investment in real estate
Land	$ 5,864,046	$ 6,295,404
Depreciable property	18,027,087	19,851,504
Projects under development	1,122,376	1,343,919
Land held for development	168,843	184,556
Investment in real estate	25,182,352	27,675,383
Accumulated depreciation	(4,905,406)	(5,432,805)
Investment in real estate, net	20,276,946	22,242,578
Real estate held for sale	2,181,135	0
Cash and cash equivalents	42,276	40,080
Investments in unconsolidated entities	68,101	105,434
Deposits – restricted	55,893	72,303
Escrow deposits – mortgage	56,946	48,085
Deferred financing costs, net	54,004	58,380
Other assets	422,027	383,754
Total assets	23,157,328	22,950,614
Liabilities:
Mortgage notes payable	4,704,870	5,086,515
Notes, net	5,876,352	5,425,346
Line of credit and commercial paper	387,276	333,000
Accounts payable and accrued expenses	187,124	153,590
Accrued interest payable	85,221	89,540
Other liabilities	366,387	389,915
Security deposits	77,582	75,633
Distributions payable	209,378	188,566
Total liabilities	11,894,190	11,742,105
Commitments and Contingencies
Redeemable Noncontrolling Interests – Operating Partnership	566,783	500,733
Shareholders' equity:
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of December 31, 2015 and 1,000,000 shares issued and outstanding as of December 31, 2014	37,280	50,000
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 364,755,444 shares issued and outstanding as of December 31, 2015 and 362,855,454 shares issued and outstanding as of December 31, 2014	3,648	3,629
Paid in capital	8,572,365	8,536,340
Retained earnings	2,009,091	1,950,639
Accumulated other comprehensive (loss)	(152,016)	(172,152)
Total shareholders' equity	10,470,368	10,368,456
Noncontrolling Interests:
Operating Partnership	221,379	214,411
Partially Owned Properties	4,608	124,909
Total Noncontrolling Interests	225,987	339,320
Total equity/capital	10,696,355	10,707,776
Total liabilities and equity/capital	$ 23,157,328	$ 22,950,614

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
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	745,600	1,000,000
Preferred Shares of beneficial interest, shares outstanding	745,600	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	364,755,444	362,855,454
Common Shares of beneficial interest, shares outstanding	364,755,444	362,855,454

CONSOLIDATED BALANCE SHEETS OF

CONSOLIDATED BALANCE SHEETS OF ERP OPERATING LIMITED PARTNERSHIP - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investment in real estate
Land	$ 5,864,046	$ 6,295,404
Depreciable property	18,027,087	19,851,504
Projects under development	1,122,376	1,343,919
Land held for development	168,843	184,556
Investment in real estate	25,182,352	27,675,383
Accumulated depreciation	(4,905,406)	(5,432,805)
Investment in real estate, net	20,276,946	22,242,578
Real estate held for sale	2,181,135	0
Cash and cash equivalents	42,276	40,080
Investments in unconsolidated entities	68,101	105,434
Deposits – restricted	55,893	72,303
Escrow deposits – mortgage	56,946	48,085
Deferred financing costs, net	54,004	58,380
Other assets	422,027	383,754
Total assets	23,157,328	22,950,614
Liabilities:
Mortgage notes payable	4,704,870	5,086,515
Notes, net	5,876,352	5,425,346
Line of credit and commercial paper	387,276	333,000
Accounts payable and accrued expenses	187,124	153,590
Accrued interest payable	85,221	89,540
Other liabilities	366,387	389,915
Security deposits	77,582	75,633
Distributions payable	209,378	188,566
Total liabilities	11,894,190	11,742,105
Partners' Capital:
Accumulated other comprehensive (loss)	(152,016)	(172,152)
Partially Owned Properties	4,608	124,909
Total liabilities and equity/capital	23,157,328	22,950,614
ERPOP [Member]
Investment in real estate
Land	5,864,046	6,295,404
Depreciable property	18,027,087	19,851,504
Projects under development	1,122,376	1,343,919
Land held for development	168,843	184,556
Investment in real estate	25,182,352	27,675,383
Accumulated depreciation	(4,905,406)	(5,432,805)
Investment in real estate, net	20,276,946	22,242,578
Real estate held for sale	2,181,135	0
Cash and cash equivalents	42,276	40,080
Investments in unconsolidated entities	68,101	105,434
Deposits – restricted	55,893	72,303
Escrow deposits – mortgage	56,946	48,085
Deferred financing costs, net	54,004	58,380
Other assets	422,027	383,754
Total assets	23,157,328	22,950,614
Liabilities:
Mortgage notes payable	4,704,870	5,086,515
Notes, net	5,876,352	5,425,346
Line of credit and commercial paper	387,276	333,000
Accounts payable and accrued expenses	187,124	153,590
Accrued interest payable	85,221	89,540
Other liabilities	366,387	389,915
Security deposits	77,582	75,633
Distributions payable	209,378	188,566
Total liabilities	11,894,190	11,742,105
Commitments and Contingencies
Redeemable Limited Partners	566,783	500,733
Partners' Capital:
Preference Units	37,280	50,000
General Partner	10,585,104	10,490,608
Limited Partners	221,379	214,411
Accumulated other comprehensive (loss)	(152,016)	(172,152)
Total partners' capital	10,691,747	10,582,867
Partially Owned Properties	4,608	124,909
Total capital	10,696,355	10,707,776
Total liabilities and equity/capital	$ 23,157,328	$ 22,950,614

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUES
Rental income	$ 2,736,578	$ 2,605,311	$ 2,378,004
Fee and asset management	8,387	9,437	9,698
Total revenues	2,744,965	2,614,748	2,387,702
EXPENSES
Property and maintenance	479,160	473,098	449,427
Real estate taxes and insurance	339,802	325,401	293,999
Property management	81,185	79,636	84,342
Fee and asset management	5,021	5,429	6,460
Depreciation	765,895	758,861	978,973
General and administrative	65,082	50,948	62,179
Total expenses	1,736,145	1,693,373	1,875,380
Operating income	1,008,820	921,375	512,322
Interest and other income	7,372	4,462	5,283
Other expenses	(2,942)	(9,073)	(29,630)
Interest:
Expense incurred, net	(444,069)	(457,191)	(586,854)
Amortization of deferred financing costs	(10,801)	(11,088)	(22,197)
Income (loss) before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	558,380	448,485	(121,076)
Income and other tax (expense) benefit	(917)	(1,394)	(1,169)
Income (loss) from investments in unconsolidated entities	15,025	(7,952)	(58,156)
Net gain on sales of real estate properties	335,134	212,685	0
Net (loss) gain on sales of land parcels	(1)	5,277	12,227
Income (loss) from continuing operations	907,621	657,101	(168,174)
Discontinued operations, net	397	1,582	2,073,527
Net income	908,018	658,683	1,905,353
Net (income) loss attributable to Noncontrolling Interests:
Operating Partnership	(34,241)	(24,831)	(75,278)
Partially Owned Properties	(3,657)	(2,544)	538
Net income attributable to controlling interests	870,120	631,308	1,830,613
Preferred distributions	(3,357)	(4,145)	(4,145)
Premium on redemption of Preferred Shares	(3,486)	0	0
Net income available to Common Shares	$ 863,277	$ 627,163	$ 1,826,468
Earnings per share – basic:
Income (loss) from continuing operations available to Common Shares	$ 2.37	$ 1.73	$ (0.47)
Net income available to Common Shares	$ 2.37	$ 1.74	$ 5.16
Weighted average Common Shares outstanding	363,498	361,181	354,305
Earnings per share – diluted:
Income (loss) from continuing operations available to Common Shares	$ 2.36	$ 1.72	$ (0.47)
Net income available to Common Shares	$ 2.36	$ 1.73	$ 5.16
Weighted average Common Shares outstanding	380,620	377,735	354,305
Distributions declared per Common Share outstanding	$ 2.210	$ 2	$ 1.850

CONSOLIDATED STATEMENTS OF OPE6

CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUES
Rental income	$ 2,736,578	$ 2,605,311	$ 2,378,004
Fee and asset management	8,387	9,437	9,698
Total revenues	2,744,965	2,614,748	2,387,702
EXPENSES
Property and maintenance	479,160	473,098	449,427
Real estate taxes and insurance	339,802	325,401	293,999
Property management	81,185	79,636	84,342
Fee and asset management	5,021	5,429	6,460
Depreciation	765,895	758,861	978,973
General and administrative	65,082	50,948	62,179
Total expenses	1,736,145	1,693,373	1,875,380
Operating income	1,008,820	921,375	512,322
Interest and other income	7,372	4,462	5,283
Other expenses	(2,942)	(9,073)	(29,630)
Interest:
Expense incurred, net	(444,069)	(457,191)	(586,854)
Amortization of deferred financing costs	(10,801)	(11,088)	(22,197)
Income (loss) before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	558,380	448,485	(121,076)
Income and other tax (expense) benefit	(917)	(1,394)	(1,169)
Income (loss) from investments in unconsolidated entities	15,025	(7,952)	(58,156)
Net gain on sales of real estate properties	335,134	212,685	0
Net (loss) gain on sales of land parcels	(1)	5,277	12,227
Income (loss) from continuing operations	907,621	657,101	(168,174)
Discontinued operations, net	397	1,582	2,073,527
Net income	908,018	658,683	1,905,353
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	(3,657)	(2,544)	538
Net income attributable to controlling interests	870,120	631,308	1,830,613
ALLOCATION OF NET INCOME:
Premium on redemption of Preference Units	$ (3,486)	$ 0	$ 0
Earnings per Unit – basic:
Income (loss) from continuing operations available to Units	$ 2.37	$ 1.73	$ (0.47)
Net income available to Units	2.37	1.74	5.16
Earnings per Unit – diluted:
Income (loss) from continuing operations available to Units	2.36	1.72	(0.47)
Net income available to Units	$ 2.36	$ 1.73	$ 5.16
Weighted average Units outstanding	380,620	377,735	354,305
ERPOP [Member]
REVENUES
Rental income	$ 2,736,578	$ 2,605,311	$ 2,378,004
Fee and asset management	8,387	9,437	9,698
Total revenues	2,744,965	2,614,748	2,387,702
EXPENSES
Property and maintenance	479,160	473,098	449,427
Real estate taxes and insurance	339,802	325,401	293,999
Property management	81,185	79,636	84,342
Fee and asset management	5,021	5,429	6,460
Depreciation	765,895	758,861	978,973
General and administrative	65,082	50,948	62,179
Total expenses	1,736,145	1,693,373	1,875,380
Operating income	1,008,820	921,375	512,322
Interest and other income	7,372	4,462	5,283
Other expenses	(2,942)	(9,073)	(29,630)
Interest:
Expense incurred, net	(444,069)	(457,191)	(586,854)
Amortization of deferred financing costs	(10,801)	(11,088)	(22,197)
Income (loss) before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	558,380	448,485	(121,076)
Income and other tax (expense) benefit	(917)	(1,394)	(1,169)
Income (loss) from investments in unconsolidated entities	15,025	(7,952)	(58,156)
Net gain on sales of real estate properties	335,134	212,685	0
Net (loss) gain on sales of land parcels	(1)	5,277	12,227
Income (loss) from continuing operations	907,621	657,101	(168,174)
Discontinued operations, net	397	1,582	2,073,527
Net income	908,018	658,683	1,905,353
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	(3,657)	(2,544)	538
Net income attributable to controlling interests	904,361	656,139	1,905,891
ALLOCATION OF NET INCOME:
Preference Units	3,357	4,145	4,145
Premium on redemption of Preference Units	3,486	0	0
General Partner	863,277	627,163	1,826,468
Limited Partners	34,241	24,831	75,278
Net income available to Units	$ 897,518	$ 651,994	$ 1,901,746
Earnings per Unit – basic:
Income (loss) from continuing operations available to Units	$ 2.37	$ 1.73	$ (0.47)
Net income available to Units	$ 2.37	$ 1.74	$ 5.16
Weighted average Units outstanding	377,074	374,899	368,038
Earnings per Unit – diluted:
Income (loss) from continuing operations available to Units	$ 2.36	$ 1.72	$ (0.47)
Net income available to Units	$ 2.36	$ 1.73	$ 5.16
Weighted average Units outstanding	380,620	377,735	368,038
Distributions declared per Unit outstanding	$ 2.210	$ 2	$ 1.850

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Comprehensive income:
Net income	$ 908,018	$ 658,683	$ 1,905,353
Other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the year	2,219	(33,306)	18,771
Losses reclassified into earnings from other comprehensive income	18,244	16,868	20,141
Other comprehensive income (loss) – other instruments:
Unrealized holding gains arising during the year	0	0	583
(Gains) realized during the year	0	0	(2,122)
Other comprehensive (loss) income – foreign currency:
Currency translation adjustments arising during the year	(327)	(552)	613
Other comprehensive income (loss)	20,136	(16,990)	37,986
Comprehensive income	928,154	641,693	1,943,339
Comprehensive (income) attributable to Noncontrolling Interests	(38,668)	(26,728)	(76,204)
Comprehensive income attributable to controlling interests	$ 889,486	$ 614,965	$ 1,867,135

CONSOLIDATED STATEMENTS OF COM8

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME OF ERP OPERATING LIMITED PARTNERSHIP - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income	$ 908,018	$ 658,683	$ 1,905,353
Other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the year	2,219	(33,306)	18,771
Losses reclassified into earnings from other comprehensive income	18,244	16,868	20,141
Other comprehensive income (loss) – other instruments:
Unrealized holding gains arising during the year	0	0	583
(Gains) realized during the year	0	0	(2,122)
Other comprehensive (loss) income – foreign currency:
Currency translation adjustments arising during the year	(327)	(552)	613
Other comprehensive income (loss)	20,136	(16,990)	37,986
Comprehensive income	928,154	641,693	1,943,339
Comprehensive (income) attributable to Noncontrolling Interests	(38,668)	(26,728)	(76,204)
Comprehensive income attributable to controlling interests	889,486	614,965	1,867,135
ERPOP [Member]
Net income	908,018	658,683	1,905,353
Other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the year	2,219	(33,306)	18,771
Losses reclassified into earnings from other comprehensive income	18,244	16,868	20,141
Other comprehensive income (loss) – other instruments:
Unrealized holding gains arising during the year	0	0	583
(Gains) realized during the year	0	0	(2,122)
Other comprehensive (loss) income – foreign currency:
Currency translation adjustments arising during the year	(327)	(552)	613
Other comprehensive income (loss)	20,136	(16,990)	37,986
Comprehensive income	928,154	641,693	1,943,339
Comprehensive (income) attributable to Noncontrolling Interests	(3,657)	(2,544)	538
Comprehensive income attributable to controlling interests	$ 924,497	$ 639,149	$ 1,943,877

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 908,018	$ 658,683	$ 1,905,353
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	765,895	758,861	1,013,353
Amortization of deferred financing costs	10,801	11,088	22,425
Amortization of above/below market leases	3,382	3,222	898
Amortization of discounts and premiums on debt	(9,492)	(13,520)	(156,439)
Amortization of deferred settlements on derivative instruments	18,075	16,334	19,607
Write-off of pursuit costs	3,208	3,607	5,184
(Income) loss from investments in unconsolidated entities	(15,025)	7,952	58,156
Distributions from unconsolidated entities – return on capital	4,741	5,570	2,481
Net (gain) on sales of investment securities and other investments	(526)	(57)	(4,203)
Net (gain) on sales of real estate properties	(335,134)	(212,685)	0
Net loss (gain) on sales of land parcels	1	(5,277)	(12,227)
Net (gain) on sales of discontinued operations	0	(179)	(2,036,505)
Realized/unrealized loss (gain) on derivative instruments	3,055	(60)	70
Compensation paid with Company Common Shares	34,607	27,543	35,474
Changes in assets and liabilities:
(Increase) decrease in deposits – restricted	(1,794)	(1,740)	3,684
Decrease in mortgage deposits	258	1,452	1,813
(Increase) decrease in other assets	(41,803)	21,773	3,742
(Decrease) increase in accounts payable and accrued expenses	(1,667)	17,797	6,229
(Decrease) increase in accrued interest payable	(4,319)	11,231	(9,219)
Increase in other liabilities	12,269	8,437	15,401
Increase (decrease) in security deposits	1,949	4,041	(6,361)
Net cash provided by operating activities	1,356,499	1,324,073	868,916
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of Archstone, net of cash acquired	0	0	(4,000,875)
Investment in real estate – acquisitions	(331,336)	(469,989)	(108,308)
Investment in real estate – development/other	(653,897)	(530,387)	(377,442)
Capital expenditures to real estate	(182,113)	(185,957)	(135,816)
Non-real estate capital additions	(3,991)	(5,286)	(4,134)
Interest capitalized for real estate and unconsolidated entities under development	(59,885)	(52,782)	(47,321)
Proceeds from disposition of real estate, net	504,748	522,647	4,551,454
Investments in unconsolidated entities	(23,019)	(15,768)	(66,471)
Distributions from unconsolidated entities – return of capital	51,144	103,793	25,471
Proceeds from sale of investment securities and other investments	2,535	57	4,878
Decrease in deposits on real estate acquisitions and investments, net	17,874	33,004	143,694
(Increase) decrease in mortgage deposits	(531)	798	7,893
Consolidation of previously unconsolidated properties	0	(44,796)	0
Net cash (used for) investing activities	(678,471)	(644,666)	(6,977)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs	(6,425)	(10,982)	(16,526)
Mortgage deposits	(8,588)	(7,699)	(5,631)
Mortgage notes payable:
Proceeds	0	0	902,886
Lump sum payoffs	(359,244)	(88,788)	(2,532,682)
Scheduled principal repayments	(9,275)	(11,869)	(12,658)
Notes, net:
Proceeds	746,391	1,194,277	1,245,550
Lump sum payoffs	(300,000)	(1,250,000)	(400,000)
Line of credit and commercial paper:
Line of credit proceeds	3,770,000	7,167,000	9,832,000
Line of credit repayments	(4,103,000)	(6,949,000)	(9,717,000)
Commercial paper proceeds	3,931,227	0	0
Commercial paper repayments	(3,545,028)	0	0
(Payments on) settlement of derivative instruments	(13,938)	(758)	(44,063)
Proceeds from Employee Share Purchase Plan (ESPP)	4,404	3,392	3,401
Proceeds from exercise of options	59,508	82,573	17,252
Common Shares repurchased and retired	0	(1,777)	0
Payments for Repurchase of Redeemable Preferred Stock	(12,720)	0	0
Payments for the Premium on Redemption of Preferred Shares/Preference Units	(3,486)	0	0
Payment of offering costs	(79)	(41)	(1,047)
Other financing activities, net	(49)	(49)	(48)
Acquisition of Noncontrolling Interests – Partially Owned Properties	0	(5,501)	0
Contributions – Noncontrolling Interests – Partially Owned Properties	0	5,684	27,660
Contributions – Noncontrolling Interests – Operating Partnership	3	3	5
Distributions:
Common Shares	(784,748)	(776,659)	(681,610)
Preferred Shares	(3,357)	(4,145)	(4,145)
Noncontrolling Interests – Operating Partnership	(30,869)	(30,744)	(27,897)
Noncontrolling Interests – Partially Owned Properties	(6,559)	(7,778)	(6,442)
Net cash (used for) financing activities	(675,832)	(692,861)	(1,420,995)
Net increase (decrease) in cash and cash equivalents	2,196	(13,454)	(559,056)
Cash and cash equivalents, beginning of year	40,080	53,534	612,590
Cash and cash equivalents, end of year	42,276	40,080	53,534
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	436,748	443,125	722,963
Net cash paid for income and other taxes	1,264	1,517	1,152
Real estate acquisitions/dispositions/other:
Mortgage loans assumed	0	28,910	0
Amortization of deferred financing costs:
Investment in real estate, net	0	0	(152)
Deferred financing costs, net	10,801	11,088	22,577
Amortization of discounts and premiums on debt:
Mortgage notes payable	(13,126)	(15,904)	(158,625)
Notes, net	2,557	2,384	2,186
Line of credit and commercial paper	1,077	0	0
Amortization of deferred settlements on derivative instruments:
Other liabilities	(169)	(534)	(534)
Accumulated other comprehensive income	18,244	16,868	20,141
Write-off of pursuit costs [Abstract]
Investment in real estate, net	2,804	2,541	4,956
Write-off of pursuit costs	3,208	3,607	5,184
Other assets	74	1,066	203
(Income) loss from investments in unconsolidated entities:
Investments in unconsolidated entities	(17,340)	4,610	53,066
Other liabilities	2,315	3,342	5,090
Distributions from unconsolidated entities return on capital:
Investments in unconsolidated entities	4,606	5,360	2,448
Other liabilities	135	210	33
Realized/unrealized loss (gain) on derivative instruments:
Other assets	(3,573)	10,160	(17,139)
Notes, net	2,058	1,597	(1,523)
Other liabilities	2,351	21,489	(39)
Accumulated other comprehensive income	2,219	(33,306)	18,771
Acquisition of Archstone, net of cash acquired:
Investment in real estate, net	0	39,929	(8,687,355)
Investments in unconsolidated entities	0	(33,993)	(225,568)
Deposits - restricted	0	0	(528)
Escrow deposits - mortgage	0	0	(37,582)
Deferred financing costs, net	0	0	(25,780)
Other assets	0	(2,586)	(215,622)
Mortgage notes payable	0	0	3,076,876
Accounts payable and accrued expenses	0	(146)	16,984
Accrued interest payable	0	0	11,305
Other liabilities	0	(3,204)	117,299
Security deposits	0	0	10,965
Issuance of Common Shares	0	0	1,929,868
Noncontrolling Interests - Partially Owned Properties	0	0	28,263
Interest capitalized for real estate and unconsolidated entities under development:
Investment in real estate, net	(59,885)	(52,717)	(45,533)
Investments in unconsolidated entities	0	(65)	(1,788)
Investments in unconsolidated entities:
Investments in unconsolidated entities	(1,404)	(6,318)	(13,656)
Other liabilities	(21,615)	(9,450)	(52,815)
Consolidation of previously unconsolidated properties:
Investment in real estate, net	331,336	469,989	108,308
Investments in unconsolidated entities	(23,019)	(15,768)	(66,471)
Accounts payable and accrued expenses	(1,667)	17,797	6,229
(Payments on) settlement of derivative instruments:
Other assets	1,848	6,623	(50)
Other liabilities	(15,786)	(7,381)	(44,013)
Other:
Foreign currency translation adjustments	327	552	(613)
Unconsolidated Properties [Member]
Changes in assets and liabilities:
(Decrease) increase in accounts payable and accrued expenses	0	1,987	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	0	64,319	0
Investments in unconsolidated entities	0	(847)	0
Consolidation of previously unconsolidated properties:
Investment in real estate, net	0	(64,319)	0
Investments in unconsolidated entities	0	(847)	0
Accounts payable and accrued expenses	0	1,987	0
Other Liabilities	0	18,383	0
Land [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Write-off of pursuit costs	330	0	25
Write-off of pursuit costs [Abstract]
Write-off of pursuit costs	$ 330	$ 0	$ 25

CONSOLIDATED STATEMENTS OF CA10

CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 908,018	$ 658,683	$ 1,905,353
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	765,895	758,861	1,013,353
Amortization of deferred financing costs	10,801	11,088	22,425
Amortization of above/below market leases	3,382	3,222	898
Amortization of discounts and premiums on debt	(9,492)	(13,520)	(156,439)
Amortization of deferred settlements on derivative instruments	18,075	16,334	19,607
Write-off of pursuit costs	3,208	3,607	5,184
(Income) loss from investments in unconsolidated entities	(15,025)	7,952	58,156
Distributions from unconsolidated entities – return on capital	4,741	5,570	2,481
Net (gain) on sales of investment securities and other investments	(526)	(57)	(4,203)
Net (gain) on sales of real estate properties	(335,134)	(212,685)	0
Net loss (gain) on sales of land parcels	1	(5,277)	(12,227)
Net (gain) on sales of discontinued operations	0	(179)	(2,036,505)
Realized/unrealized loss (gain) on derivative instruments	3,055	(60)	70
Compensation paid with Company Common Shares	34,607	27,543	35,474
Changes in assets and liabilities:
(Increase) decrease in deposits – restricted	(1,794)	(1,740)	3,684
Decrease in mortgage deposits	258	1,452	1,813
(Increase) decrease in other assets	(41,803)	21,773	3,742
(Decrease) increase in accounts payable and accrued expenses	(1,667)	17,797	6,229
(Decrease) increase in accrued interest payable	(4,319)	11,231	(9,219)
Increase in other liabilities	12,269	8,437	15,401
Increase (decrease) in security deposits	1,949	4,041	(6,361)
Net cash provided by operating activities	1,356,499	1,324,073	868,916
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of Archstone, net of cash acquired	0	0	(4,000,875)
Investment in real estate – acquisitions	(331,336)	(469,989)	(108,308)
Investment in real estate – development/other	(653,897)	(530,387)	(377,442)
Capital expenditures to real estate	(182,113)	(185,957)	(135,816)
Non-real estate capital additions	(3,991)	(5,286)	(4,134)
Interest capitalized for real estate and unconsolidated entities under development	(59,885)	(52,782)	(47,321)
Proceeds from disposition of real estate, net	504,748	522,647	4,551,454
Investments in unconsolidated entities	(23,019)	(15,768)	(66,471)
Distributions from unconsolidated entities – return of capital	51,144	103,793	25,471
Proceeds from sale of investment securities	2,535	57	4,878
Decrease in deposits on real estate acquisitions and investments, net	17,874	33,004	143,694
(Increase) decrease in mortgage deposits	(531)	798	7,893
Consolidation of previously unconsolidated properties	0	(44,796)	0
Net cash (used for) investing activities	(678,471)	(644,666)	(6,977)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs	(6,425)	(10,982)	(16,526)
Mortgage deposits	(8,588)	(7,699)	(5,631)
Mortgage notes payable:
Proceeds	0	0	902,886
Lump sum payoffs	(359,244)	(88,788)	(2,532,682)
Scheduled principal repayments	(9,275)	(11,869)	(12,658)
Notes, net:
Proceeds	746,391	1,194,277	1,245,550
Lump sum payoffs	(300,000)	(1,250,000)	(400,000)
Line of credit and commercial paper:
Line of credit proceeds	3,770,000	7,167,000	9,832,000
Line of credit repayments	(4,103,000)	(6,949,000)	(9,717,000)
Commercial paper proceeds	3,931,227	0	0
Commercial paper repayments	(3,545,028)	0	0
(Payments on) settlement of derivative instruments	(13,938)	(758)	(44,063)
Proceeds from EQR's Employee Share Purchase Plan (ESPP)	4,404	3,392	3,401
Proceeds from exercise of EQR options	59,508	82,573	17,252
OP units repurchased and retired	0	(1,777)	0
Payments for Repurchase of Redeemable Preferred Stock	(12,720)	0	0
Payments for the Premium on Redemption of Preferred Shares/Preference Units	(3,486)	0	0
Payment of offering costs	(79)	(41)	(1,047)
Other financing activities, net	(49)	(49)	(48)
Acquisition of Noncontrolling Interests – Partially Owned Properties	0	(5,501)	0
Contributions – Noncontrolling Interests – Partially Owned Properties	0	5,684	27,660
Contributions - Limited Partners	3	3	5
Distributions:
Preference Units	(3,357)	(4,145)	(4,145)
OP Units – General Partner	(784,748)	(776,659)	(681,610)
OP Units – Limited Partners	(30,869)	(30,744)	(27,897)
Noncontrolling Interests – Partially Owned Properties	(6,559)	(7,778)	(6,442)
Net cash (used for) financing activities	(675,832)	(692,861)	(1,420,995)
Net increase (decrease) in cash and cash equivalents	2,196	(13,454)	(559,056)
Cash and cash equivalents, beginning of year	40,080	53,534	612,590
Cash and cash equivalents, end of year	42,276	40,080	53,534
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	436,748	443,125	722,963
Net cash paid for income and other taxes	1,264	1,517	1,152
Real estate acquisitions/dispositions/other:
Mortgage loans assumed	0	28,910	0
Amortization of deferred financing costs:
Investment in real estate, net	0	0	(152)
Deferred financing costs, net	10,801	11,088	22,577
Amortization of discounts and premiums on debt:
Mortgage notes payable	(13,126)	(15,904)	(158,625)
Notes, net	2,557	2,384	2,186
Line of credit and commercial paper	1,077	0	0
Amortization of deferred settlements on derivative instruments:
Other liabilities	(169)	(534)	(534)
Accumulated other comprehensive income	18,244	16,868	20,141
Write-off of pursuit costs [Abstract]
Investment in real estate, net	2,804	2,541	4,956
Write-off of pursuit costs	3,208	3,607	5,184
Other assets	74	1,066	203
(Income) loss from investments in unconsolidated entities:
Investments in unconsolidated entities	(17,340)	4,610	53,066
Other liabilities	2,315	3,342	5,090
Distributions from unconsolidated entities return on capital:
Investments in unconsolidated entities	4,606	5,360	2,448
Other liabilities	135	210	33
Realized/unrealized loss (gain) on derivative instruments:
Other assets	(3,573)	10,160	(17,139)
Notes, net	2,058	1,597	(1,523)
Other liabilities	2,351	21,489	(39)
Accumulated other comprehensive income	2,219	(33,306)	18,771
Acquisition of Archstone, net of cash acquired:
Investment in real estate, net	0	39,929	(8,687,355)
Investments in unconsolidated entities	0	(33,993)	(225,568)
Deposits - restricted	0	0	(528)
Escrow deposits - mortgage	0	0	(37,582)
Deferred financing costs, net	0	0	(25,780)
Other assets	0	(2,586)	(215,622)
Mortgage notes payable	0	0	3,076,876
Accounts payable and accrued expenses	0	(146)	16,984
Accrued interest payable	0	0	11,305
Other liabilities	0	(3,204)	117,299
Security deposits	0	0	10,965
Issuance of OP Units	0	0	1,929,868
Noncontrolling Interests - Partially Owned Properties	0	0	28,263
Interest capitalized for real estate and unconsolidated entities under development:
Investment in real estate, net	(59,885)	(52,717)	(45,533)
Investments in unconsolidated entities	0	(65)	(1,788)
Investments in unconsolidated entities:
Investments in unconsolidated entities	(1,404)	(6,318)	(13,656)
Other liabilities	(21,615)	(9,450)	(52,815)
Consolidation of previously unconsolidated properties:
Investment in real estate, net	331,336	469,989	108,308
Investments in unconsolidated entities	(23,019)	(15,768)	(66,471)
Accounts payable and accrued expenses	(1,667)	17,797	6,229
(Payments on) settlement of derivative instruments:
Other assets	1,848	6,623	(50)
Other liabilities	(15,786)	(7,381)	(44,013)
Other:
Foreign currency translation adjustments	327	552	(613)
Unconsolidated Properties [Member]
Changes in assets and liabilities:
(Decrease) increase in accounts payable and accrued expenses	0	1,987	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	0	64,319	0
Investments in unconsolidated entities	0	(847)	0
Consolidation of previously unconsolidated properties:
Investment in real estate, net	0	(64,319)	0
Investments in unconsolidated entities	0	(847)	0
Accounts payable and accrued expenses	0	1,987	0
Other Liabilities	0	18,383	0
Land [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Write-off of pursuit costs	330	0	25
Write-off of pursuit costs [Abstract]
Write-off of pursuit costs	330	0	25
ERPOP [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	908,018	658,683	1,905,353
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	765,895	758,861	1,013,353
Amortization of deferred financing costs	10,801	11,088	22,425
Amortization of above/below market leases	3,382	3,222	898
Amortization of discounts and premiums on debt	(9,492)	(13,520)	(156,439)
Amortization of deferred settlements on derivative instruments	18,075	16,334	19,607
Write-off of pursuit costs	3,208	3,607	5,184
(Income) loss from investments in unconsolidated entities	(15,025)	7,952	58,156
Distributions from unconsolidated entities – return on capital	4,741	5,570	2,481
Net (gain) on sales of investment securities and other investments	(526)	(57)	(4,203)
Net (gain) on sales of real estate properties	(335,134)	(212,685)	0
Net loss (gain) on sales of land parcels	1	(5,277)	(12,227)
Net (gain) on sales of discontinued operations	0	(179)	(2,036,505)
Realized/unrealized loss (gain) on derivative instruments	3,055	(60)	70
Compensation paid with Company Common Shares	34,607	27,543	35,474
Changes in assets and liabilities:
(Increase) decrease in deposits – restricted	(1,794)	(1,740)	3,684
Decrease in mortgage deposits	258	1,452	1,813
(Increase) decrease in other assets	(41,803)	21,773	3,742
(Decrease) increase in accounts payable and accrued expenses	(1,667)	17,797	6,229
(Decrease) increase in accrued interest payable	(4,319)	11,231	(9,219)
Increase in other liabilities	12,269	8,437	15,401
Increase (decrease) in security deposits	1,949	4,041	(6,361)
Net cash provided by operating activities	1,356,499	1,324,073	868,916
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of Archstone, net of cash acquired	0	0	(4,000,875)
Investment in real estate – acquisitions	(331,336)	(469,989)	(108,308)
Investment in real estate – development/other	(653,897)	(530,387)	(377,442)
Capital expenditures to real estate	(182,113)	(185,957)	(135,816)
Non-real estate capital additions	(3,991)	(5,286)	(4,134)
Interest capitalized for real estate and unconsolidated entities under development	(59,885)	(52,782)	(47,321)
Proceeds from disposition of real estate, net	504,748	522,647	4,551,454
Investments in unconsolidated entities	(23,019)	(15,768)	(66,471)
Distributions from unconsolidated entities – return of capital	51,144	103,793	25,471
Proceeds from sale of investment securities	2,535	57	4,878
Decrease in deposits on real estate acquisitions and investments, net	17,874	33,004	143,694
(Increase) decrease in mortgage deposits	(531)	798	7,893
Consolidation of previously unconsolidated properties	0	(44,796)	0
Net cash (used for) investing activities	(678,471)	(644,666)	(6,977)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs	(6,425)	(10,982)	(16,526)
Mortgage deposits	(8,588)	(7,699)	(5,631)
Mortgage notes payable:
Proceeds	0	0	902,886
Lump sum payoffs	(359,244)	(88,788)	(2,532,682)
Scheduled principal repayments	(9,275)	(11,869)	(12,658)
Notes, net:
Proceeds	746,391	1,194,277	1,245,550
Lump sum payoffs	(300,000)	(1,250,000)	(400,000)
Line of credit and commercial paper:
Line of credit proceeds	3,770,000	7,167,000	9,832,000
Line of credit repayments	(4,103,000)	(6,949,000)	(9,717,000)
Commercial paper proceeds	3,931,227	0	0
Commercial paper repayments	(3,545,028)	0	0
(Payments on) settlement of derivative instruments	(13,938)	(758)	(44,063)
Proceeds from EQR's Employee Share Purchase Plan (ESPP)	4,404	3,392	3,401
Proceeds from exercise of EQR options	59,508	82,573	17,252
OP units repurchased and retired	0	(1,777)	0
Payments for Repurchase of Redeemable Preferred Stock	(12,720)	0	0
Payments for the Premium on Redemption of Preferred Shares/Preference Units	(3,486)	0	0
Payment of offering costs	(79)	(41)	(1,047)
Other financing activities, net	(49)	(49)	(48)
Acquisition of Noncontrolling Interests – Partially Owned Properties	0	(5,501)	0
Contributions – Noncontrolling Interests – Partially Owned Properties	0	5,684	27,660
Contributions - Limited Partners	3	3	5
Distributions:
Preference Units	(3,357)	(4,145)	(4,145)
OP Units – General Partner	(784,748)	(776,659)	(681,610)
OP Units – Limited Partners	(30,869)	(30,744)	(27,897)
Noncontrolling Interests – Partially Owned Properties	(6,559)	(7,778)	(6,442)
Net cash (used for) financing activities	(675,832)	(692,861)	(1,420,995)
Net increase (decrease) in cash and cash equivalents	2,196	(13,454)	(559,056)
Cash and cash equivalents, beginning of year	40,080	53,534	612,590
Cash and cash equivalents, end of year	42,276	40,080	53,534
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	436,748	443,125	722,963
Net cash paid for income and other taxes	1,264	1,517	1,152
Real estate acquisitions/dispositions/other:
Mortgage loans assumed	0	28,910	0
Amortization of deferred financing costs:
Investment in real estate, net	0	0	(152)
Deferred financing costs, net	10,801	11,088	22,577
Amortization of discounts and premiums on debt:
Mortgage notes payable	(13,126)	(15,904)	(158,625)
Notes, net	2,557	2,384	2,186
Line of credit and commercial paper	1,077	0	0
Amortization of deferred settlements on derivative instruments:
Other liabilities	(169)	(534)	(534)
Accumulated other comprehensive income	18,244	16,868	20,141
Write-off of pursuit costs [Abstract]
Investment in real estate, net	2,804	2,541	4,956
Write-off of pursuit costs	3,208	3,607	5,184
Other assets	74	1,066	203
(Income) loss from investments in unconsolidated entities:
Investments in unconsolidated entities	(17,340)	4,610	53,066
Other liabilities	2,315	3,342	5,090
Distributions from unconsolidated entities return on capital:
Investments in unconsolidated entities	4,606	5,360	2,448
Other liabilities	135	210	33
Realized/unrealized loss (gain) on derivative instruments:
Other assets	(3,573)	10,160	(17,139)
Notes, net	2,058	1,597	(1,523)
Other liabilities	2,351	21,489	(39)
Accumulated other comprehensive income	2,219	(33,306)	18,771
Acquisition of Archstone, net of cash acquired:
Investment in real estate, net	0	39,929	(8,687,355)
Investments in unconsolidated entities	0	(33,993)	(225,568)
Deposits - restricted	0	0	(528)
Escrow deposits - mortgage	0	0	(37,582)
Deferred financing costs, net	0	0	(25,780)
Other assets	0	(2,586)	(215,622)
Mortgage notes payable	0	0	3,076,876
Accounts payable and accrued expenses	0	(146)	16,984
Accrued interest payable	0	0	11,305
Other liabilities	0	(3,204)	117,299
Security deposits	0	0	10,965
Issuance of OP Units	0	0	1,929,868
Noncontrolling Interests - Partially Owned Properties	0	0	28,263
Interest capitalized for real estate and unconsolidated entities under development:
Investment in real estate, net	(59,885)	(52,717)	(45,533)
Investments in unconsolidated entities	0	(65)	(1,788)
Investments in unconsolidated entities:
Investments in unconsolidated entities	(1,404)	(6,318)	(13,656)
Other liabilities	(21,615)	(9,450)	(52,815)
Consolidation of previously unconsolidated properties:
Investment in real estate, net	331,336	469,989	108,308
Investments in unconsolidated entities	(23,019)	(15,768)	(66,471)
Accounts payable and accrued expenses	(1,667)	17,797	6,229
(Payments on) settlement of derivative instruments:
Other assets	1,848	6,623	(50)
Other liabilities	(15,786)	(7,381)	(44,013)
Other:
Foreign currency translation adjustments	327	552	(613)
ERPOP [Member] | Unconsolidated Properties [Member]
Changes in assets and liabilities:
(Decrease) increase in accounts payable and accrued expenses	0	1,987	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	0	64,319	0
Investments in unconsolidated entities	0	(847)	0
Consolidation of previously unconsolidated properties:
Investment in real estate, net	0	(64,319)	0
Investments in unconsolidated entities	0	(847)	0
Accounts payable and accrued expenses	0	1,987	0
Other Liabilities	0	18,383	0
ERPOP [Member] | Land [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Write-off of pursuit costs	330	0	25
Write-off of pursuit costs [Abstract]
Write-off of pursuit costs	$ 330	$ 0	$ 25

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Series K Preferred Stock [Member]	PREFERRED SHARES	COMMON SHARES, $0.01 PAR VALUE	PAID IN CAPITAL	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE (LOSS)	OPERATING PARTNERSHIP	PARTIALLY OWNED PROPERTIES
Balance, beginning of year at Dec. 31, 2012			$ 50,000	$ 3,251	$ 6,542,355	$ 887,355	$ (193,148)
Balance, beginning of year at Dec. 31, 2012								$ 159,606	$ 77,688
PREFERRED SHARES
Partial redemption of 8.29% Series K Cumulative Redeemable			0
Preferred Stock Preference Units Dividend Rate Percentage		8.29%
COMMON SHARES, $0.01 PAR VALUE
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
PAID IN CAPITAL
Conversion of OP Units into Common Shares				1	1,698			(1,699)
Issuance of Common Shares				345	1,929,523
Exercise of share options				5	17,247
Employee Share Purchase Plan (ESPP)				1	3,400
Conversion of restricted shares to restricted units					0			0
Share-based employee compensation expense:
Restricted shares				2	13,262
Share options					10,514
ESPP discount					632
Common Shares repurchsed and retired					0
Offering costs					(1,047)
Supplemental Executive Retirement Plan (SERP)					(422)
Acquisition of Noncontrolling Interests – Partially Owned Properties					0				0
Change in market value of Redeemable Noncontrolling Interests – Operating Partnership	$ (79,667)				79,667
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
Accumulated other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the year	18,771						18,771
Losses reclassified into earnings from other comprehensive income	(20,141)						20,141
Accumulated other comprehensive income (loss) – other instruments:
Unrealized holding gains arising during the year	583						583
(Gains) realized during the year							(2,122)
Currency translation adjustments arising during the year	613						613
OPERATING PARTNERSHIP
Issuance of restricted units to Noncontrolling Interests								5
Conversion of OP Units into Common Shares				1	1,698			(1,699)
Conversion of restricted shares to restricted units					0			0
Equity compensation associated with Noncontrolling Interests								13,609
Net income (loss) attributable to Noncontrolling Interests	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)
Adjustment for Noncontrolling Interests ownership in Operating Partnership					(35,329)			35,329
PARTIALLY OWNED PROPERTIES
Net income (loss) attributable to Noncontrolling Interests	1,905,353							75,278	(538)
Contributions – Noncontrolling Interests – Partially Owned Properties	27,660								27,660
Distributions to Noncontrolling Interests								(26,277)	(6,490)
Acquisition of Archstone									28,263
Acquisition of Noncontrolling Interests – Partially Owned Properties					0				0
Deconsolidation of previously consolidated Noncontrolling Interests									0
Other									0
Balance, end of year at Dec. 31, 2013			50,000	3,605	8,561,500	2,047,258	(155,162)
Balance, end of year at Dec. 31, 2013								211,412	126,583
PREFERRED SHARES
Partial redemption of 8.29% Series K Cumulative Redeemable			0
Preferred Stock Preference Units Dividend Rate Percentage		8.29%
COMMON SHARES, $0.01 PAR VALUE
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
PAID IN CAPITAL
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
Conversion of restricted shares to restricted units					0			0
Share-based employee compensation expense:
Restricted shares				2	9,902
Share options					7,349
ESPP discount					859
Common Shares repurchsed and retired					(1,777)
Offering costs					(41)
Supplemental Executive Retirement Plan (SERP)					7,374
Acquisition of Noncontrolling Interests – Partially Owned Properties					(2,308)				(2,244)
Change in market value of Redeemable Noncontrolling Interests – Operating Partnership	139,818				(139,818)
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
Accumulated other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) 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
Currency translation adjustments arising during the year	(552)						(552)
OPERATING PARTNERSHIP
Issuance of restricted units to Noncontrolling Interests								3
Conversion of OP Units into Common Shares				1	2,364			(2,365)
Conversion of restricted shares to restricted units					0			0
Equity compensation associated with Noncontrolling Interests								11,969
Net income (loss) attributable to Noncontrolling Interests	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
Adjustment for Noncontrolling Interests ownership in Operating Partnership					4,992			(4,992)
PARTIALLY OWNED PROPERTIES
Net income (loss) attributable to Noncontrolling Interests	658,683							24,831	2,544
Contributions – Noncontrolling Interests – Partially Owned Properties	5,684								5,684
Distributions to Noncontrolling Interests								(28,676)	(7,827)
Acquisition of Archstone									0
Acquisition of Noncontrolling Interests – Partially Owned Properties					(2,308)				(2,244)
Deconsolidation of previously consolidated Noncontrolling Interests									0
Other									169
Balance, end of year at Dec. 31, 2014	10,368,456		50,000	3,629	8,536,340	1,950,639	(172,152)
Balance, end of year at Dec. 31, 2014	10,707,776							214,411	124,909
PREFERRED SHARES
Partial redemption of 8.29% Series K Cumulative Redeemable			(12,720)
Preferred Stock Preference Units Dividend Rate Percentage		8.29%
COMMON SHARES, $0.01 PAR VALUE
Conversion of OP Units into Common Shares				2	4,964			(4,966)
Issuance of Common Shares				0	0
Exercise of share options				14	59,494
Employee Share Purchase Plan (ESPP)				1	4,403
Restricted shares				2	15,064
PAID IN CAPITAL
Conversion of OP Units into Common Shares				2	4,964			(4,966)
Issuance of Common Shares				0	0
Exercise of share options				14	59,494
Employee Share Purchase Plan (ESPP)				1	4,403
Conversion of restricted shares to restricted units					(70)			70
Share-based employee compensation expense:
Restricted shares				2	15,064
Share options					3,756
ESPP discount					884
Common Shares repurchsed and retired					0
Offering costs					(79)
Supplemental Executive Retirement Plan (SERP)					1,380
Acquisition of Noncontrolling Interests – Partially Owned Properties					0				0
Change in market value of Redeemable Noncontrolling Interests – Operating Partnership	64,378				(64,378)
Adjustment for Noncontrolling Interests ownership in Operating Partnership					10,607			(10,607)
RETAINED EARNINGS
Net income attributable to controlling interests	870,120					870,120
Common Share distributions						(804,825)
Preferred Share distributions						(3,357)
Premium on redemption of Preferred Shares – cash charge						(3,486)
Accumulated other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the year	2,219						2,219
Losses reclassified into earnings from other comprehensive income	(18,244)						18,244
Accumulated other comprehensive income (loss) – other instruments:
Unrealized holding gains arising during the year	0						0
(Gains) realized during the year							0
Currency translation adjustments arising during the year	(327)						(327)
OPERATING PARTNERSHIP
Issuance of restricted units to Noncontrolling Interests								3
Conversion of OP Units into Common Shares				2	4,964			(4,966)
Conversion of restricted shares to restricted units					(70)			70
Equity compensation associated with Noncontrolling Interests								21,503
Net income (loss) attributable to Noncontrolling Interests	908,018							34,241	3,657
Distributions to Noncontrolling Interests								(31,604)	(6,608)
Change in carrying value of Redeemable Noncontrolling Interests – Operating Partnership	1,672							(1,672)
Adjustment for Noncontrolling Interests ownership in Operating Partnership					10,607			(10,607)
PARTIALLY OWNED PROPERTIES
Net income (loss) attributable to Noncontrolling Interests	908,018							34,241	3,657
Contributions – Noncontrolling Interests – Partially Owned Properties	0								0
Distributions to Noncontrolling Interests								(31,604)	(6,608)
Acquisition of Archstone									0
Acquisition of Noncontrolling Interests – Partially Owned Properties					0				0
Deconsolidation of previously consolidated Noncontrolling Interests									(117,350)
Other									0
Balance, end of year at Dec. 31, 2015	10,470,368		$ 37,280	$ 3,648	$ 8,572,365	$ 2,009,091	$ (152,016)
Balance, end of year at Dec. 31, 2015	$ 10,696,355							$ 221,379	$ 4,608

CONSOLIDATED STATEMENT OF CHA12

CONSOLIDATED STATEMENT OF CHANGES IN CAPITAL OF ERP OPERATING LIMITED PARTNERSHIP - USD ($) $ in Thousands	Total	Series K Preferred Stock [Member]	ERPOP [Member]	ERPOP [Member]Series K Preferred Stock [Member]	ERPOP [Member]PREFERENCE UNITS	ERPOP [Member]PREFERENCE UNITSSeries K Preferred Stock [Member]	ERPOP [Member]GENERAL PARTNER	ERPOP [Member]LIMITED PARTNERS	ERPOP [Member]ACCUMULATED OTHER COMPREHENSIVE (LOSS)	ERPOP [Member]NONCONTROLLING INTERESTS – PARTIALLY OWNED PROPERTIES
Balance, beginning of year at Dec. 31, 2012					$ 50,000		$ 7,432,961	$ 159,606	$ (193,148)	$ 77,688
Preference Units
Partial redemption of 8.29% Series K Cumulative Redeemable					0
Preferred Stock Preference Units Dividend Rate Percentage		8.29%				8.29%
OP Unit Issuance:
Conversion of OP Units held by Limited Partners into OP Units held by General Partner							1,699	(1,699)
Issuance of OP Units							1,929,868
Exercise of EQR share options							17,252
EQR's Employee Share Purchase Plan (ESPP)							3,401
Conversion of EQR restricted shares to restricted units							0	0
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
Net income available to Units – General Partner			$ 1,826,468				1,826,468
OP Units – General Partner distributions							(666,565)
Offering costs							(1,047)
Supplemental Executive Retirement Plan (SERP)							(422)
Acquisition of Noncontrolling Interests – Partially Owned Properties							0			0
Change in market value of Redeemable Limited Partners							79,667
Adjustment for Limited Partners ownership in Operating Partnership							(35,329)	35,329
LIMITED PARTNERS
Issuance of restricted units to Limited Partners								5
Conversion of OP Units held by Limited Partners into OP Units held by General Partner							1,699	(1,699)
Conversion of restricted shares to restricted units							0	0
Equity compensation associated with Units – Limited Partners								13,609
Net income available to Units – Limited Partners			75,278					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 income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the year	$ 18,771		18,771						18,771
Losses reclassified into earnings from other comprehensive income	(20,141)		(20,141)						20,141
Accumulated other comprehensive income (loss) – other instruments:
Unrealized holding gains arising during the year	583		583						583
(Gains) on Sale of Securities, Net									(2,122)
Currency translation adjustments arising during the year	613		613						613
PARTIALLY OWNED PROPERTIES
Net income (loss) attributable to Noncontrolling Interests	1,905,353		1,905,353							(538)
Contributions by Noncontrolling Interests	27,660		27,660							27,660
Distributions to Noncontrolling Interests										(6,490)
Acquisition of Archstone										28,263
Acquisition of Noncontrolling Interests – Partially Owned Properties							0			0
Deconsolidation of previously consolidated Noncontrolling Interests										0
Other										0
Balance, end of period at Dec. 31, 2013					50,000		10,612,363	211,412	(155,162)	126,583
Preference Units
Partial redemption of 8.29% Series K Cumulative Redeemable					0
Preferred Stock Preference Units Dividend Rate Percentage		8.29%		8.29%		0.00%
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
Conversion of EQR restricted shares to restricted units							0	0
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)
Net income available to Units – General Partner			627,163				627,163
OP Units – General Partner distributions							(723,782)
Offering costs							(41)
Supplemental Executive Retirement Plan (SERP)							7,374
Acquisition of Noncontrolling Interests – Partially Owned Properties							(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
Issuance of restricted units to Limited Partners								3
Conversion of OP Units held by Limited Partners into OP Units held by General Partner							2,365	(2,365)
Conversion of restricted shares to restricted units							0	0
Equity compensation associated with Units – Limited Partners								11,969
Net income available to Units – Limited Partners			24,831					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 income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the year	(33,306)		(33,306)						(33,306)
Losses reclassified into earnings from other comprehensive income	(16,868)		(16,868)						16,868
Accumulated other comprehensive income (loss) – other instruments:
Unrealized holding gains arising during the year	0		0						0
(Gains) on Sale of Securities, Net									0
Currency translation adjustments arising during the year	(552)		(552)						(552)
PARTIALLY OWNED PROPERTIES
Net income (loss) attributable to Noncontrolling Interests	658,683		658,683							2,544
Contributions by Noncontrolling Interests	5,684		5,684							5,684
Distributions to Noncontrolling Interests										(7,827)
Acquisition of Archstone										0
Acquisition of Noncontrolling Interests – Partially Owned Properties							(2,308)			(2,244)
Deconsolidation of previously consolidated Noncontrolling Interests										0
Other										169
Balance, end of period at Dec. 31, 2014					50,000		10,490,608	214,411	(172,152)	124,909
Preference Units
Partial redemption of 8.29% Series K Cumulative Redeemable					(12,720)
Preferred Stock Preference Units Dividend Rate Percentage		8.29%		8.29%		8.29%
OP Unit Issuance:
Conversion of OP Units held by Limited Partners into OP Units held by General Partner							4,966	(4,966)
Issuance of OP Units							0
Exercise of EQR share options							59,508
EQR's Employee Share Purchase Plan (ESPP)							4,404
Conversion of EQR restricted shares to restricted units							(70)	70
Share-based employee compensation expense:
EQR restricted shares							15,066
EQR share options							3,756
EQR ESPP discount							884
OP Units repurchased and retired							0
Net income available to Units – General Partner			863,277				863,277
OP Units – General Partner distributions							(804,825)
Offering costs							(79)
Supplemental Executive Retirement Plan (SERP)							1,380
Acquisition of Noncontrolling Interests – Partially Owned Properties							0			0
Change in market value of Redeemable Limited Partners							(64,378)
Adjustment for Limited Partners ownership in Operating Partnership							10,607	(10,607)
LIMITED PARTNERS
Issuance of restricted units to Limited Partners								3
Conversion of OP Units held by Limited Partners into OP Units held by General Partner							4,966	(4,966)
Conversion of restricted shares to restricted units							(70)	70
Equity compensation associated with Units – Limited Partners								21,503
Net income available to Units – Limited Partners			34,241					34,241
Units – Limited Partners distributions								(31,604)
Change in carrying value of Redeemable Limited Partners								(1,672)
Adjustment for Limited Partners ownership in Operating Partnership							10,607	(10,607)
Accumulated other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the year	2,219		2,219						2,219
Losses reclassified into earnings from other comprehensive income	(18,244)		(18,244)						18,244
Accumulated other comprehensive income (loss) – other instruments:
Unrealized holding gains arising during the year	0		0						0
(Gains) on Sale of Securities, Net									0
Currency translation adjustments arising during the year	(327)		(327)						(327)
PARTIALLY OWNED PROPERTIES
Net income (loss) attributable to Noncontrolling Interests	908,018		908,018							3,657
Contributions by Noncontrolling Interests	$ 0		$ 0							0
Distributions to Noncontrolling Interests										(6,608)
Acquisition of Archstone										0
Acquisition of Noncontrolling Interests – Partially Owned Properties							0			0
Deconsolidation of previously consolidated Noncontrolling Interests										(117,350)
Other										0
Balance, end of period at Dec. 31, 2015					$ 37,280		$ 10,585,104	$ 221,379	$ (152,016)	$ 4,608

Business

Business	12 Months Ended
	Dec. 31, 2015
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, 2015 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, 2015 , the Company, directly or indirectly through investments in title holding entities, owned all or a portion of 394 properties located in 12 states and the District of Columbia consisting of 109,652 apartment units. The ownership breakdown includes (table does not include various uncompleted development properties): Properties Apartment Units Wholly Owned Properties 367 98,608 Master-Leased Properties – Consolidated 3 853 Partially Owned Properties – Consolidated 19 3,771 Partially Owned Properties – Unconsolidated 3 1,281 Military Housing 2 5,139 394 109,652 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 14 operating properties. The Company owns the building and improvements and leases the land underlying the improvements under long-term ground leases. The expiration dates for these leases range from 2026 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 Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
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 $10,000 and $25,000 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 economic age of the 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. In-place retail leases' term at acquisition approximates the average remaining term of all acquired retail leases. 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 sale when it is probable a property will be disposed of (see below and Note 4 for further discussion). 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 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 sale 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 sale. 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, 2015 , 2014 and 2013 , the Company capitalized $22.3 million , $22.4 million and $16.5 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, 2015 and 2014 , the Company did not hold any investment securities. Deferred Financing Costs Deferred financing costs include fees and costs incurred to obtain the Company’s line 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 $45.4 million and $37.7 million at December 31, 2015 and 2014 , 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 residential 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. Rental income attributable to retail/commercial leases is also recorded on a straight-line 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 partnership interest ("OP Units") to EQR on a one-for-one basis, with ERPOP receiving the net cash proceeds of such issuances. See Note 12 for further discussion. 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: 2015 2014 2013 Expected volatility (1) 26.6% 27.0% 26.9% Expected life (2) 5 years 5 years 5 years Expected dividend yield (3) 3.13% 3.78% 4.12% Risk-free interest rate (4) 1.29% 1.50% 0.84% Option valuation per share $13.68 $9.12 $7.90 (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, 2015 , the Company has recorded a deferred tax asset of approximately $40.8 million , which is fully offset by a valuation allowance due to the uncertainty of realization. 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, 2015 , 2014 and 2013 (amounts in thousands): Year Ended December 31, 2015 2014 2013 Income and other tax expense (benefit) (1) $ 917 $ 1,394 $ 1,169 Discontinued operations, net (2) 15 8 449 Provision for income, franchise and excise taxes (3) $ 932 $ 1,402 $ 1,618 (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 years ending December 31, 2015 and 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the years ended December 31, 2015 and 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 $19.4 million of net operating loss ("NOL") carryforwards available as of January 1, 2016 that will expire between 2030 and 2032 . During the years ended December 31, 2015 , 2014 and 2013 , the Company’s tax treatment of dividends and distributions were as follows: Year Ended December 31, 2015 2014 2013 Tax treatment of dividends and distributions: Ordinary dividends $ 1.591 $ 1.475 $ 0.662 Qualified dividends 0.037 0.088 0.050 Long-term capital gain 0.443 0.280 0.870 Unrecaptured section 1250 gain 0.139 0.157 0.268 Dividends and distributions declared per Common Share/Unit outstanding $ 2.210 $ 2.000 $ 1.850 The unaudited cost of land and depreciable property, net of accumulated depreciation, for federal income tax purposes as of December 31, 2015 and 2014 was approximately $17.0 billion and $16.7 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 generally based on ownership percentage and 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 ERPOP. 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. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (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 revenue. 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, 2018 and early adoption will be permitted beginning on January 1, 2017. The new standard may be applied retrospectively to each prior period presented or prospectively 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 and for interim periods thereafter. 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 Company adopted the new standard as required effective January 1, 2016. While adoption of the new standard did not result in any changes to conclusions about whether a joint venture was consolidated or unconsolidated, the Company has determined that certain of its joint ventures will now qualify as variable interest entities and therefore will require additional disclosures. In April 2015, the FASB issued a new standard which requires companies to present debt financing costs as a direct deduction from the carrying amount of the associated debt liability rather than as an asset, consistent with the presentation of debt discounts on the consolidated balance sheets. Companies will be permitted to present debt issuance costs related to line of credit arrangements as an asset and amortize these costs over the term of the arrangement, regardless of whether there are any outstanding borrowings on the arrangement. The new standard must be applied retrospectively to all prior periods presented in the consolidated financial statements. The Company adopted this standard as required effective January 1, 2016 and other than presentation on the consolidated balance sheets, it did not have a material effect on its consolidated results of operations or financial position. In January 2016, the FASB issued a new standard which requires companies to measure all equity securities with readily determinable fair values at fair value on the balance sheet, with changes in fair value recognized in net income. The new standard will be effective for the Company beginning on January 1, 2018. The Company does not expect that this will have a material effect on its consolidated results of operations or financial position. Other The Company is the controlling partner in various consolidated partnerships owning 19 properties and 3,771 apartment units having a noncontrolling interest book value of $4.6 million at December 31, 2015 . 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 $11.5 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, 2015 , the Company estimates the value of Noncontrolling Interest distributions for these six properties would have been approximately $75.1 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, 2015 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.

Equity, Capital and Other Inter

Equity, Capital and Other Interests	12 Months Ended
	Dec. 31, 2015
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, 2015 , 2014 and 2013 : 2015 2014 2013 Common Shares Common Shares outstanding at January 1, 362,855,454 360,479,260 325,054,654 Common Shares Issued: Conversion of OP Units 208,307 94,671 67,939 Issuance of Common Shares — — 34,468,085 Exercise of share options 1,456,363 2,086,380 586,017 Employee Share Purchase Plan (ESPP) 68,462 68,807 73,468 Restricted share grants, net 168,142 169,722 229,097 Common Shares Other: Conversion of restricted shares to restricted units (1,284 ) (12,146 ) — Repurchased and retired — (31,240 ) — Common Shares outstanding at December 31, 364,755,444 362,855,454 360,479,260 Units Units outstanding at January 1, 14,298,691 14,180,376 13,968,758 Restricted unit grants, net 335,496 200,840 279,557 Conversion of restricted shares to restricted units 1,284 12,146 — Conversion of OP Units to Common Shares (208,307 ) (94,671 ) (67,939 ) Units outstanding at December 31, 14,427,164 14,298,691 14,180,376 Total Common Shares and Units outstanding at December 31, 379,182,608 377,154,145 374,659,636 Units Ownership Interest in Operating Partnership 3.8 % 3.8 % 3.8 % 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 cannot 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, 2015 and 2014 . 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, 2015 , the Redeemable Noncontrolling Interests – Operating Partnership have a redemption value of approximately $566.8 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, 2015 , 2014 and 2013 , respectively (amounts in thousands): 2015 2014 2013 Balance at January 1, $ 500,733 $ 363,144 $ 398,372 Change in market value 64,378 139,818 (79,667 ) Change in carrying value 1,672 (2,229 ) 44,439 Balance at December 31, $ 566,783 $ 500,733 $ 363,144 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, 2015 and 2014 : Amounts in thousands Redemption Annual December 31, 2015 December 31, 2014 Preferred Shares of beneficial interest, $0.01 par value; 8.29% Series K Cumulative Redeemable Preferred; liquidation 12/10/26 $4.145 $ 37,280 $ 50,000 $ 37,280 $ 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. (3) Effective January 26, 2015, the Company 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 . As a result of this partial redemption, the Company incurred a cash charge of approximately $2.8 million which was recorded as a premium on the redemption of Preferred Shares. (4) Effective November 12, 2015, the Company repurchased and retired 58,000 Series K Preferred Shares with a par value of $2.9 million for total cash consideration of approximately $3.6 million . As a result of this partial redemption, the Company incurred a cash charge of approximately $0.7 million which was recorded as a premium on the redemption of Preferred Shares. 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, 2015 , 2014 and 2013 : 2015 2014 2013 General and Limited Partner Units General and Limited Partner Units outstanding at January 1, 377,154,145 374,659,636 339,023,412 Issued to General Partner: Issuance of OP Units — — 34,468,085 Exercise of EQR share options 1,456,363 2,086,380 586,017 EQR's Employee Share Purchase Plan (ESPP) 68,462 68,807 73,468 EQR's restricted share grants, net 168,142 169,722 229,097 Issued to Limited Partners: Restricted unit grants, net 335,496 200,840 279,557 OP Units Other: Repurchased and retired — (31,240 ) — General and Limited Partner Units outstanding at December 31, 379,182,608 377,154,145 374,659,636 Limited Partner Units Limited Partner Units outstanding at January 1, 14,298,691 14,180,376 13,968,758 Limited Partner restricted unit grants, net 335,496 200,840 279,557 Conversion of EQR restricted shares to restricted units 1,284 12,146 — Conversion of Limited Partner OP Units to EQR Common Shares (208,307 ) (94,671 ) (67,939 ) Limited Partner Units outstanding at December 31, 14,427,164 14,298,691 14,180,376 Limited Partner Units Ownership Interest in Operating Partnership 3.8 % 3.8 % 3.8 % The Limited Partners of the Operating Partnership as of December 31, 2015 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 cannot 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, 2015 and 2014. 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, 2015 , the Redeemable Limited Partner Units have a redemption value of approximately $566.8 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, 2015 , 2014 and 2013 , respectively (amounts in thousands): 2015 2014 2013 Balance at January 1, $ 500,733 $ 363,144 $ 398,372 Change in market value 64,378 139,818 (79,667 ) Change in carrying value 1,672 (2,229 ) 44,439 Balance at December 31, $ 566,783 $ 500,733 $ 363,144 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, 2015 and 2014 : Amounts in thousands Redemption Annual December 31, 2015 December 31, 2014 Preference Units: 8.29% Series K Cumulative Redeemable Preference Units; 12/10/26 $4.145 $ 37,280 $ 50,000 $ 37,280 $ 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. (3) Effective January 26, 2015, the Operating Partnership repurchased and retired 196,400 Series K Preference Units with a par value of $9.82 million for total cash consideration of approximately $12.7 million , in conjunction with the concurrent redemption of the corresponding Company Preferred Shares. As a result of this partial redemption, the Operating Partnership incurred a cash charge of approximately $2.8 million which was recorded as a premium on the redemption of Preference Units. (4) Effective November 12, 2015, the Operating Partnership repurchased and retired 58,000 Series K Preference Units with a par value of $2.9 million for total cash consideration of approximately $3.6 million , in conjunction with the concurrent redemption of the corresponding Company Preferred Shares. As a result of this partial redemption, the Operating Partnership incurred a cash charge of approximately $0.7 million which was recorded as a premium on the redemption of Preference Units. 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. 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. 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. 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, 2015. 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, 2015 and 2013. 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, 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.

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	4. Real Estate, Real Estate Held for Sale and Lease Intangibles The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of December 31, 2015 and 2014 (amounts in thousands): 2015 2014 Land $ 5,864,046 $ 6,295,404 Depreciable property: Buildings and improvements 16,336,829 17,974,337 Furniture, fixtures and equipment 1,207,098 1,365,276 In-Place lease intangibles 483,160 511,891 Projects under development: Land 284,995 466,764 Construction-in-progress 837,381 877,155 Land held for development: Land 120,007 145,366 Construction-in-progress 48,836 39,190 Investment in real estate 25,182,352 27,675,383 Accumulated depreciation (4,905,406 ) (5,432,805 ) Investment in real estate, net $ 20,276,946 $ 22,242,578 The following table summarizes the carrying amounts for the Company's above and below market ground and retail lease intangibles as of December 31, 2015 and 2014 (amounts in thousands): Description Balance Sheet Location 2015 2014 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 (13,451 ) (8,913 ) Lease intangible assets, net $ 166,060 $ 170,598 Liabilities Ground lease intangibles – above market Other Liabilities $ 2,400 $ 2,400 Retail lease intangibles – below market Other Liabilities 5,270 5,270 Lease intangible liabilities 7,670 7,670 Accumulated amortization (3,414 ) (2,258 ) Lease intangible liabilities, net $ 4,256 $ 5,412 During the years ended December 31, 2015 , 2014 and 2013 , the Company amortized approximately $4.3 million , $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 $0.9 million , $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 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): 2016 2017 2018 2019 2020 Ground lease intangibles $ 4,321 $ 4,321 $ 4,321 $ 4,321 $ 4,321 Retail lease intangibles (896 ) (540 ) (71 ) (71 ) (71 ) Total $ 3,425 $ 3,781 $ 4,250 $ 4,250 $ 4,250 Acquisitions and Dispositions During the year ended December 31, 2015 , 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) 4 625 $ 296,037 Land Parcels (2) — — 27,800 Total 4 625 $ 323,837 (1) Purchase price includes an allocation of approximately $44.7 million to land and $251.3 million to depreciable property. (2) The Company acquired three contiguous land parcels in San Francisco during 2015 which will be combined for future development. 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 (1) 6 1,353 $ 469,850 Land Parcels — — 28,790 Total 6 1,353 $ 498,640 (1) Purchase price includes an allocation of approximately $95.3 million to land and $374.6 million to depreciable property. The Company also acquired the 95% equity interest it did not previously own in one unconsolidated development project with a stabilized real estate value of $87.5 million 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 income (loss) from investments in unconsolidated entities in the accompanying consolidated statements of operations and comprehensive income, in conjunction with this buyout. During the year ended December 31, 2015 , the Company disposed of the following to unaffiliated parties (sales price in thousands): Properties Apartment Units Sales Price Consolidated: Rental Properties (1) 8 1,857 $ 513,312 Total 8 1,857 $ 513,312 (1) Includes a 193,230 square foot medical office building adjacent to our Longfellow Place property in Boston with a sales price of approximately $123.3 million which is not included in the Company's property and apartment unit counts. The Company recognized a net gain on sales of real estate properties of approximately $335.1 million on the above sales. 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 income (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. Starwood Disposition Following the approval by the Company's Board of Trustees, the Company executed an agreement with controlled affiliates of Starwood Capital Group ("Starwood") on October 23, 2015 to sell a portfolio of 72 operating properties consisting of 23,262 apartment units located in five markets across the United States for $5.365 billion (the "Starwood Transaction"). As of December 31, 2015, Starwood had deposited $250.0 million in cash into escrow as earnest money, which was non-refundable unless the Company defaulted on the sales agreement. On January 26 and 27, 2016, the Company closed on the sale of all of the portfolio described above. As a result, the Starwood Transaction meets the held for sale criteria at December 31, 2015 . In accordance with this classification, the Company ceased depreciation on all assets in the Starwood portfolio as of November 1, 2015 and the following assets are classified as held for sale in the accompanying consolidated balance sheets at December 31, 2015 (amounts in thousands): 2015 Land $ 602,737 Depreciable property: Buildings and improvements 2,386,489 Furniture, fixtures and equipment 335,565 In-Place lease intangibles 35,554 Real estate held for sale before accumulated depreciation 3,360,345 Accumulated depreciation (1,179,210 ) Real estate held for sale $ 2,181,135 The following table provides the operating segments/locations of the properties and apartment units sold in the Starwood Transaction, which represents substantially all of the assets in the Company's non-core South Florida and Denver markets and certain non-core assets in the Washington D.C., Seattle and other (Inland Empire, CA) markets. The sale of these properties represents the continuation of the Company's long-term strategy of investing in high barrier to entry/core urban markets. See Notes 11 and 18 for further discussion. Markets/Metro Areas Properties Apartment Units Non-core – South Florida 33 10,742 Non-core – Denver 18 6,635 Washington D.C. 10 3,020 Seattle 8 1,721 Non-core – other (Inland Empire, CA) 3 1,144 Total 72 23,262 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 ("Archstone" or “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) consisting of 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 was complete and final as of February 28, 2014. 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 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, 2015 , the Company has incurred cumulative Archstone-related expenses of approximately $83.1 million , of which approximately $13.5 million of this total was financing-related and approximately $69.6 million was merger costs. During the years ended December 31, 2015 and 2014 , the Company expensed nominal amounts of direct merger costs. During the year ended December 31, 2013, the Company expensed $19.9 million 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, 2015, 2014 and 2013, the Company also expensed $2.7 million , $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 income (loss) from investments in unconsolidated entities in the accompanying consolidated statements of operations and comprehensive income. The indirect merger costs expensed during the year ended December 31, 2015 were offset by $18.6 million received related to the favorable settlement of a lawsuit, which reduced income (loss) from investments in unconsolidated entities in the accompanying consolidated statements of operations and comprehensive income. Finally, during the year ended December 31, 2013, the Company expensed $2.5 million 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 Total revenues $ 2,485,438 Income from continuing operations 203,286 Discontinued operations, net 2,074,072 Net income 2,277,358 Net income available to Common Shares 2,183,756 Earnings per share - basic: Net income available to Common Shares $ 6.07 Weighted average Common Shares outstanding (1) 359,688 Earnings per share - diluted: Net income available to Common Shares $ 6.05 Weighted average Common Shares outstanding (1) 375,861 (1) 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 Total revenues $ 2,485,438 Income from continuing operations 203,286 Discontinued operations, net 2,074,072 Net income 2,277,358 Net income available to Units 2,273,798 Earnings per Unit - basic: Net income available to Units $ 6.07 Weighted average Units outstanding (1) 373,421 Earnings per Unit - diluted: Net income available to Units $ 6.05 Weighted average Units outstanding (1) 375,861 (1) 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 year ended December 31, 2013, acquisition costs of $19.9 million and severance/retention and other costs of $54.1 million 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 period 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 period presented, nor are they necessarily indicative of future operating results. 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 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. Until the core and shell of the building were complete, the building and land were owned jointly and were required to be consolidated on the Company's balance sheet as the Company was the managing member and Toll Brothers did not have substantive kick-out or participating rights. In July 2015, the Company recorded the master condominium declaration for this development project and as a result, the Toll Brothers’ portion of the property was deconsolidated from the Company's balance sheet. The Company now solely owns the rental portion of the building (floors 2-22) and the ground floor retail and Toll Brothers solely owns the for sale portion of the building (floors 23-40). The joint venture no longer owns any real property. In conjunction with this transaction, the Company reduced investment in real estate by $116.7 million , noncontrolling interest by $117.3 million and accrued retainage by $1.1 million and increased other liabilities by $1.7 million (to account for Toll Brothers' restricted cash still held by the Company). The deconsolidation of the Toll Brothers' portion of the project had no impact on the consolidated results of operations and comprehensive income.

Investments in Partially Owned

Investments in Partially Owned Entities	12 Months Ended
	Dec. 31, 2015
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, 2015 (amounts in thousands except for project and apartment unit amounts): Consolidated Unconsolidated Operating Operating Total projects 19 3 Total apartment units 3,771 1,281 Balance sheet information at 12/31/15 (at 100%): ASSETS Investment in real estate $ 689,574 $ 290,891 Accumulated depreciation (216,697 ) (30,662 ) Investment in real estate, net 472,877 260,229 Cash and cash equivalents 23,445 7,044 Investments in unconsolidated entities 49,408 — Deposits – restricted 346 289 Deferred financing costs, net 1,792 6 Other assets 26,567 448 Total assets $ 574,435 $ 268,016 LIABILITIES AND EQUITY/CAPITAL Mortgage notes payable (1) $ 343,429 $ 174,846 Accounts payable & accrued expenses 1,698 733 Accrued interest payable 1,223 691 Other liabilities 786 347 Security deposits 2,036 645 Total liabilities 349,172 177,262 Noncontrolling Interests – Partially Owned Properties/Partners' equity 4,608 90,878 Company equity/General and Limited Partners' Capital 220,655 (124 ) Total equity/capital 225,263 90,754 Total liabilities and equity/capital $ 574,435 $ 268,016 Consolidated Unconsolidated Operating Operating Operating information for the year ended 12/31/15 (at 100%): Operating revenue $ 94,349 $ 32,285 Operating expenses 26,081 12,061 Net operating income 68,268 20,224 Depreciation 22,216 12,350 General and administrative/other 330 255 Operating income 45,722 7,619 Interest and other income 12 (1 ) Other expenses (50 ) — Interest: Expense incurred, net (15,459 ) (9,390 ) Amortization of deferred financing costs (349 ) (2 ) Income (loss) before income and other taxes and (loss) 29,876 (1,774 ) Income and other tax (expense) benefit (35 ) (18 ) (Loss) from investments in unconsolidated entities (1,501 ) — Net income (loss) $ 28,340 $ (1,792 ) (1) All debt is non-recourse to the Company. 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 owned certain non-core Archstone assets and succeeded to certain residual Archstone liabilities/litigation, as well as responsibility for tax protection arrangements and third-party preferred interests in former Archstone subsidiaries. The preferred interests had an aggregate liquidation value of $42.2 million at December 31, 2015 . 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 . The Company is the controlling partner in various consolidated partnership properties having an aggregate noncontrolling interest book value of $4.6 million at December 31, 2015 . The Company does not have any variable interest entities as of December 31, 2015 . Operating Properties The Company has a 75% equity interest in the Wisconsin Place joint venture. The project contains a mixed-use site located in Chevy Chase, Maryland consisting of residential, retail, office and accessory uses, including underground parking facilities. The joint venture owns the 432 unit residential component, but has no ownership interest in the retail and office components. At December 31, 2015 , the residential component had a net book value of $175.8 million . The Company is the managing member and its partner does not have substantive kick-out or participating rights. As a result, the entity that owns the residential component is required to be consolidated on the Company's balance sheet. The joint venture also retains an unconsolidated interest in an entity that owns the land underlying the entire project and owns and operates the parking facility. At December 31, 2015 , the basis of this investment was $49.4 million . The Company does not have substantive kick-out or participating rights in the entity. As a result, the entity that owns the land and owns and operates the parking facility is unconsolidated and recorded using the equity method of accounting. The Company has a 20% equity interest in the Waterton Tenside joint venture which owns a 336 unit apartment property located in Atlanta, Georgia and had a basis of $3.9 million at December 31, 2015 . 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 $29.4 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. The Company has a 20% equity interest in each of the Nexus Sawgrass and Domain joint ventures. The Nexus Sawgrass joint venture owns a 501 unit apartment property located in Sunrise, Florida and had a basis of $5.1 million at December 31, 2015 . The Domain joint venture owns a 444 unit apartment property located in San Jose, California and had a basis of $10.0 million at December 31, 2015 . Nexus Sawgrass and Domain were completed and stabilized during the quarters ended September 30, 2014 and March 31, 2015, respectively. Construction on both projects was predominantly funded with long-term, non-recourse secured loans from the partner. The mortgage loan on Nexus Sawgrass has a current unconsolidated outstanding balance of $48.6 million , bears interest at 5.60% and matures January 1, 2021 . The mortgage loan on Domain has a current unconsolidated outstanding balance of $96.8 million , 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 gave certain construction cost overrun guarantees, the joint venture partner has significant participating rights and has active involvement in and oversight of the ongoing projects. As a result, the entities are unconsolidated and recorded using the equity method of accounting. The Company currently has no further funding obligations related to these projects. Other 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 owned certain non-core Archstone assets and succeeded to certain residual Archstone liabilities/litigation. The Residual JV is owned 60% by the Company and 40% by AVB. The Company's initial investment was $147.6 million and the Company's basis at December 31, 2015 was a net obligation of $0.3 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 years ended December 31, 2015, 2014 and 2013, the Company received approximately $51.0 million , $83.5 million and $18.9 million , respectively, in distributions from the Residual JV as a result of the winddown/sale of assets owned by the Residual JV and litigation settlements received by the Residual JV. 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 and winddown activity was approximately $3.5 million , $79.6 million and $18.9 million during the years ended December 31, 2015, 2014 and 2013, respectively. The Company's pro rata share of the proceeds related to the sale of other real estate assets owned by the Residual JV was approximately $30.7 million and $3.9 million , respectively, during the years ended December 31, 2015 and 2014. The Company’s pro rata share of the litigation settlements received by the Residual JV was approximately $16.8 million during the year ended December 31, 2015. As of December 31, 2015 , the Residual JV has sold all of the real estate assets that were acquired as part of the Archstone Acquisition, including all of the German assets. 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, 2015 , the Legacy JV distributed $27.9 million to its preferred interests holders for accrued and unpaid dividends, of which the Company's pro rata share was approximately $16.7 million . At December 31, 2015 , the remaining preferred interests had an aggregate liquidation value of $42.2 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.

Deposits - Restricted

Deposits - Restricted	12 Months Ended
	Dec. 31, 2015
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, 2015 and 2014 (amounts in thousands): December 31, December 31, Earnest money on pending acquisitions $ 1,000 $ 580 Restricted deposits on real estate investments 6,077 24,701 Resident security and utility deposits 48,458 46,516 Other 358 506 Totals $ 55,893 $ 72,303 The following table presents the Company’s escrow deposits as of December 31, 2015 and 2014 (amounts in thousands): December 31, December 31, Real estate taxes and insurance $ 1,977 $ 2,235 Replacement reserves 3,962 3,431 Mortgage principal reserves/sinking funds 50,155 41,567 Other 852 852 Totals $ 56,946 $ 48,085

Debt

Debt	12 Months Ended
	Dec. 31, 2015
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, 2015 , the Company had outstanding mortgage debt of approximately $4.7 billion . During the year ended December 31, 2015 , the Company repaid $368.5 million of mortgage loans. The Company recorded $0.6 million of write-offs of unamortized deferred financing costs during the year ended December 31, 2015 as additional interest expense related to debt extinguishment of mortgages. The Company also recorded $1.4 million of write-offs of net unamortized premiums during the year ended December 31, 2015 as a reduction of interest expense related to debt extinguishment of mortgages. As of December 31, 2015 , the Company had $668.8 million of secured debt subject to third party credit enhancement. As of December 31, 2015 , scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through May 1, 2061 . At December 31, 2015 , the interest rate range on the Company’s mortgage debt was 0.01% to 7.25% . During the year ended December 31, 2015 , the weighted average interest rate on the Company’s mortgage debt was 4.23% . The historical cost, net of accumulated depreciation, of encumbered properties was $6.0 billion and $6.9 billion at December 31, 2015 and 2014 , respectively. 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% . 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, 2015 and 2014 , respectively: December 31, 2015 Net Principal Balance Interest Rate Ranges Weighted Average Interest Rate Maturity Date Ranges Fixed Rate Public Notes (1) $ 5,423,012 3.00% - 7.57% 5.30% 2016 - 2045 Floating Rate Public Notes (1) 453,340 (1) 0.93% 2019 Totals $ 5,876,352 December 31, 2014 Net Principal Balance Interest Rate Ranges Weighted Average Interest Rate Maturity Date Ranges 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 (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% . 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, 2015 and 2014 . 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, 2015 , the Company: ▪ Repaid $300.0 million of 6.584% unsecured notes at maturity; ▪ Issued $450.0 million of ten-year 3.375% fixed rate public notes, receiving net proceeds of $447.5 million before underwriting fees, hedge termination costs and other expenses, at an all-in effective interest rate of 3.81% after termination of various forward starting swaps in conjunction with the issuance (see Note 9 for further discussion); and ▪ Issued $300.0 million of thirty-year 4.50% fixed rate public notes, receiving net proceeds of $298.9 million before underwriting fees and other expenses, at an all-in effective interest rate of 4.55% . 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). Line of Credit and Commercial Paper 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 0.95% ) 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. On February 2, 2015 the Company entered into an unsecured commercial paper note program in the United States. The Company may borrow up to a maximum of $500.0 million under this program subject to market conditions. 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 Company's other unsecured senior indebtedness. As of December 31, 2015 , there was a balance of $387.3 million on the commercial paper program ( $387.5 million in principal outstanding net of an unamortized discount of $0.2 million ). The notes bear interest at various floating rates with a weighted average of 0.56% for the year ended December 31, 2015 and a weighted average maturity of 19 days as of December 31, 2015 . As of December 31, 2015 , the amount available on the revolving credit facility was $2.07 billion (net of $45.1 million which was restricted/dedicated to support letters of credit and net of $387.5 million outstanding on the commercial paper program). During the year ended December 31, 2015 , the weighted average interest rate on the revolving credit facility was 1.07% . As of December 31, 2014 , the amount available on the revolving credit facility was $2.12 billion (net of $43.8 million which was restricted/dedicated to support letters of credit and net of the $333.0 million outstanding on the revolving credit facility). During the year ended December 31, 2014 , the weighted average interest rate on the revolving credit facility was 0.95% . 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 as of December 31, 2015 (amounts in thousands): Year Total (1) 2016 $ 1,352,813 2017 1,347,846 2018 180,461 2019 1,281,127 2020 1,679,432 Thereafter 5,173,079 Net Unamortized (Discount) (46,260 ) Total $ 10,968,498 (1) Premiums and discounts are amortized over the life of the debt. See Note 18 for discussion of the debt amounts repaid subsequent to December 31, 2015 .

Derivative and Other Fair Value

Derivative and Other Fair Value Instruments	12 Months Ended
	Dec. 31, 2015
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 and commercial paper) 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 commercial paper) 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 commercial paper) were approximately $4.7 billion and $6.3 billion , respectively, at December 31, 2015 . The fair values of the Company’s mortgage notes payable and unsecured debt (including its commercial paper) were approximately $4.6 billion (Level 2) and $6.5 billion (Level 2), respectively, at December 31, 2015 . 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 fair values of the Company’s financial instruments (other than mortgage notes payable, unsecured notes, line of credit, commercial paper 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, 2015 (dollar amounts are in thousands): Fair Value Forward Current Notional Balance $ 450,000 $ 50,000 Lowest Possible Notional $ 450,000 $ 50,000 Highest Possible Notional $ 450,000 $ 50,000 Lowest Interest Rate 2.375 % 2.500 % Highest Interest Rate 2.375 % 2.500 % Earliest Maturity Date 2019 2026 Latest Maturity Date 2019 2026 (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. This swap has a mandatory counterparty termination in 2017, and is targeted to a 2016 issuance. 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, 2015 and 2014 , respectively (amounts in thousands): Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 12/31/2015 Quoted Prices in Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Derivatives designated as hedging instruments: Interest Rate Contracts: Fair Value Hedges Other Assets $ 3,655 $ — $ 3,655 $ — Supplemental Executive Retirement Plan Other Assets 105,942 105,942 — — Total $ 109,597 $ 105,942 $ 3,655 $ — Liabilities Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Liabilities $ 673 $ — $ 673 $ — Supplemental Executive Retirement Plan Other Liabilities 105,942 105,942 — — Total $ 106,615 $ 105,942 $ 673 $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 566,783 $ — $ 566,783 $ — Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 12/31/2014 Quoted Prices in Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (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 $ — 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, 2015 , 2014 and 2013 , respectively (amounts in thousands): December 31, 2015 Type of Fair Value Hedge Location of Amount of Hedged Item Income Statement Amount of Derivatives designated as hedging instruments: Interest Rate Contracts: Interest Rate Swaps Interest expense $ 2,058 Fixed rate debt Interest expense $ (2,058 ) Total $ 2,058 $ (2,058 ) December 31, 2014 Type of Fair Value Hedge Location of Gain/(Loss) Recognized in Income on Derivative Amount of Gain/(Loss) Recognized in Income on Derivative Hedged Item Income Statement Location of Hedged Item Gain/(Loss) Amount of Gain/(Loss)Recognized in Income 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 Type of Fair Value Hedge Location of Gain/(Loss) Recognized in Income on Derivative Amount of Gain/(Loss) Recognized in Income on Derivative Hedged Item Income Statement Location of Hedged Item Gain/(Loss) Amount of Gain/(Loss)Recognized in Income 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 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, 2015 , 2014 and 2013 , respectively (amounts in thousands): Effective Portion Ineffective Portion December 31, 2015 Type of Cash Flow Hedge Amount of Location of Gain/(Loss) Amount of Gain/(Loss) Location of Amount of Gain/(Loss) Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ (814 ) Interest expense $ (18,244 ) Interest expense $ (3,033 ) Total $ (814 ) $ (18,244 ) $ (3,033 ) Effective Portion Ineffective Portion December 31, 2014 Type of Cash Flow Hedge Amount of Location of Gain/(Loss) Amount of Gain/(Loss) Location of Amount of Gain/(Loss) 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 Type of Cash Flow Hedge Amount of Location of Gain/(Loss) Amount of Gain/(Loss) Location of Amount of Gain/(Loss) 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 ) $ — As of December 31, 2015 and 2014 , there were approximately $151.8 million and $172.2 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, 2015 , the Company may recognize an estimated $24.7 million of accumulated other comprehensive (loss) as additional interest expense during the year ending December 31, 2016 . In May 2015, the Company paid a net $15.1 million to settle nine forward starting ten-year swaps in conjunction with the issuance of $450.0 million of ten-year fixed rate public notes. The ineffective portion of approximately $30,000 and accrued interest of approximately $1.2 million were recorded as increases to interest expense. The remaining amount of approximately $13.9 million will be deferred as a component of accumulated other comprehensive (loss) and recognized as an increase to interest expense over the first 9 years and 10.5 months of the notes. During the year ended December 31, 2015, the Company recorded approximately $3.0 million of deferred accumulated other comprehensive (loss) as additional interest expense due to the ineffectiveness of certain forward starting swaps. 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, 2015
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, 2015 2014 2013 Numerator for net income per share – basic: Income (loss) from continuing operations $ 907,621 $ 657,101 $ (168,174 ) Allocation to Noncontrolling Interests – Operating Partnership, net (34,226 ) (24,771 ) 6,834 Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (3,657 ) (2,544 ) 538 Preferred distributions (3,357 ) (4,145 ) (4,145 ) Premium on redemption of Preferred Shares (3,486 ) — — Income (loss) from continuing operations available to Common Shares, net of Noncontrolling Interests 862,895 625,641 (164,947 ) Discontinued operations, net of Noncontrolling Interests 382 1,522 1,991,415 Numerator for net income per share – basic $ 863,277 $ 627,163 $ 1,826,468 Numerator for net income per share – diluted (1): Income from continuing operations $ 907,621 $ 657,101 Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (3,657 ) (2,544 ) Preferred distributions (3,357 ) (4,145 ) Premium on redemption of Preferred Shares (3,486 ) — Income from continuing operations available to Common Shares 897,121 650,412 Discontinued operations, net 397 1,582 Numerator for net income per share – diluted (1) $ 897,518 $ 651,994 $ 1,826,468 Denominator for net income per share – basic and diluted (1): Denominator for net income per share – basic 363,498 361,181 354,305 Effect of dilutive securities: OP Units 13,576 13,718 Long-term compensation shares/units 3,546 2,836 Denominator for net income per share – diluted (1) 380,620 377,735 354,305 Net income per share – basic $ 2.37 $ 1.74 $ 5.16 Net income per share – diluted $ 2.36 $ 1.73 $ 5.16 Net income per share – basic: Income (loss) from continuing operations available to Common Shares, net of Noncontrolling Interests $ 2.37 $ 1.73 $ (0.47 ) Discontinued operations, net of Noncontrolling Interests — 0.01 5.63 Net income per share – basic $ 2.37 $ 1.74 $ 5.16 Net income per share – diluted (1): Income (loss) from continuing operations available to Common Shares $ 2.36 $ 1.72 $ (0.47 ) Discontinued operations, net — 0.01 5.63 Net income per share – diluted $ 2.36 $ 1.73 $ 5.16 (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. Note: 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, 2015 2014 2013 Numerator for net income per Unit – basic and diluted (1): Income (loss) from continuing operations $ 907,621 $ 657,101 $ (168,174 ) Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (3,657 ) (2,544 ) 538 Allocation to Preference Units (3,357 ) (4,145 ) (4,145 ) Allocation to premium on redemption of Preference Units (3,486 ) — — Income (loss) from continuing operations available to Units 897,121 650,412 (171,781 ) Discontinued operations, net 397 1,582 2,073,527 Numerator for net income per Unit – basic and diluted (1) $ 897,518 $ 651,994 $ 1,901,746 Denominator for net income per Unit – basic and diluted (1): Denominator for net income per Unit – basic 377,074 374,899 368,038 Effect of dilutive securities: Dilution for Units issuable upon assumed exercise/vesting of the Company's long-term compensation shares/units 3,546 2,836 Denominator for net income per Unit – diluted (1) 380,620 377,735 368,038 Net income per Unit – basic $ 2.37 $ 1.74 $ 5.16 Net income per Unit – diluted $ 2.36 $ 1.73 $ 5.16 Net income per Unit – basic: Income (loss) from continuing operations available to Units $ 2.37 $ 1.73 $ (0.47 ) Discontinued operations, net — 0.01 5.63 Net income per Unit – basic $ 2.37 $ 1.74 $ 5.16 Net income per Unit – diluted (1): Income (loss) from continuing operations available to Units $ 2.36 $ 1.72 $ (0.47 ) Discontinued operations, net — 0.01 5.63 Net income per Unit – diluted $ 2.36 $ 1.73 $ 5.16 (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. Note: 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, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	11. Individually Significant Dispositions and Discontinued Operations In April 2014, 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 are required to expand their disclosures about discontinued operations to provide more information on the assets, liabilities, income and expenses of the discontinued operations. Companies are also 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 was permitted, but only for disposals (or classifications as held for sale) that had not been reported in financial statements previously issued. The new standard was 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. Individually Significant Dispositions The Company concluded that the Starwood Transaction does not qualify for discontinued operations reporting as it does not represent a strategic shift that will have a major effect on the Company’s operations and financial results. The Company has been investing only in its six core coastal markets (Boston, New York, Washington D.C., Southern California, San Francisco and Seattle) and has not been acquiring or developing any new assets in its other markets. Over the past several years, the Company has been repositioning its portfolio by selling non-core assets and reducing its exposure to non-core markets. However, the Company concluded that the Starwood Transaction does qualify as an individually significant component of the Company as the amount received upon disposal will exceed 10% of total assets and NOI (see definition in Note 17) of the Starwood portfolio represents approximately 16.4% , 16.1% and 16.4% , respectively, of consolidated NOI for the Company for the years ended December 31, 2015 , 2014 and 2013 . In addition, the Starwood Transaction meets the held for sale criteria at December 31, 2015 and is classified as held for sale in the accompanying consolidated balance sheets at December 31, 2015 (see Note 4 for further discussion). In accordance with this classification, the Company ceased depreciation on all assets in the Starwood portfolio as of November 1, 2015. As a result, the following table summarizes the results of operations attributable to the Starwood Transaction for the years ended December 31, 2015 , 2014 and 2013 (amounts in thousands): Year Ended December 31, 2015 2014 2013 REVENUES Rental income $ 427,433 $ 401,134 $ 373,899 Total revenues 427,433 401,134 373,899 EXPENSES (1) Property and maintenance 78,189 76,579 75,848 Real estate taxes and insurance 48,403 46,416 44,035 Property management 11 11 11 Depreciation 87,616 104,104 105,015 General and administrative 38 24 22 Total expenses 214,257 227,134 224,931 Operating income 213,176 174,000 148,968 Interest and other income 1 1 2 Other expenses (35 ) (1 ) — Interest (2): Expense incurred, net (680 ) (701 ) (754 ) Amortization of deferred financing costs (559 ) (98 ) (98 ) Income and other tax (expense) benefit (1 ) (3 ) (2 ) Income from operations 211,902 173,198 148,116 Income from operations attributable to Noncontrolling Interests – Partially Owned — (14 ) (52 ) Income from operations attributable to controlling interests – Operating Partnership 211,902 173,184 148,064 Income from operations attributable to Noncontrolling Interests – Operating Partnership (8,083 ) (6,598 ) (5,692 ) Income from operations attributable to controlling interests – Company $ 203,819 $ 166,586 $ 142,372 (1) Includes expenses paid in the current period for properties held for sale. (2) Includes only interest expense specific to secured mortgage notes payable for properties held for sale which was repaid or will be repaid at or before closing. 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 years ended December 31, 2015 and 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the years ended December 31, 2015 and 2014 met the new criteria for reporting 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, 2015 , 2014 and 2013 (amounts in thousands). Year Ended December 31, 2015 2014 2013 REVENUES Rental income $ 499 $ 1,309 $ 121,942 Total revenues 499 1,309 121,942 EXPENSES (1) Property and maintenance (60 ) (141 ) 36,792 Real estate taxes and insurance 65 267 11,903 Property management — — 1 Depreciation — — 34,380 General and administrative 85 89 85 Total expenses 90 215 83,161 Discontinued operating income 409 1,094 38,781 Interest and other income 3 317 217 Other expenses — — (3 ) Interest (2): Expense incurred, net — — (1,296 ) Amortization of deferred financing costs — — (228 ) Income and other tax (expense) benefit (15 ) (8 ) (449 ) Discontinued operations 397 1,403 37,022 Net gain on sales of discontinued operations — 179 2,036,505 Discontinued operations, net $ 397 $ 1,582 $ 2,073,527 (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, 2015
Share-based Compensation [Abstract]
Share Incentive Plans	11. 12. Share Incentive Plans Any Common Shares issued pursuant to EQR's incentive equity compensation and employee share purchase plans will result in ERPOP issuing OP Units to EQR on a one-for-one basis with ERPOP receiving the net cash proceeds of such issuances. On June 16, 2011, the shareholders of EQR approved the Company's 2011 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, 2015, 7,952,498 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 (including performance awards) and restricted units (including performance awards) 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, 2015 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, March 2014 and June 2015, 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. In January 2015, the Company revised its executive compensation program for the Chairman, Chief Executive Officer and certain other Executive Officers. The long-term portion of the revised program will allow these individuals to earn from 0% to 200% of the target number of performance awards, payable in the form of restricted shares and/or restricted units, as determined by the Company’s relative and absolute Total Shareholder Return (“TSR”) over a forward-looking three-year performance period. The Company’s TSR will be compared to pre-established quantitative performance metrics. In connection with the grant of long-term incentive compensation, the individuals are allowed to choose, on a one-for-one basis, between restricted shares and restricted units. The grant date fair value of the awards is estimated using a Monte Carlo model, and the resulting expense is recorded regardless of whether the TSR performance measures are achieved, if the required service is delivered. These awards generally vest three years from the award date. The grant date fair value is amortized into expense over the service period. If the executive is retirement-eligible, the grant date fair value is amortized into expense over the first year. All other awards are amortized into expense over the three year performance/vesting period. In addition, the awards granted as restricted units will receive quarterly partial dividend payments equal to 10% of any common share dividend on the same date as any other OP Unit holder during the three-year performance period. 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. The awards granted as restricted shares will not receive dividends during the three-year performance period. At the end of the three-year performance period, cumulative dividends will be paid for the three-year performance period for any restricted shares or restricted units actually earned, less any dividends already paid on the restricted units. If employment is terminated prior to vesting, the restricted shares and restricted units are generally canceled. Once the Company's absolute and relative TSR is calculated at the end of the three-year performance period, the executive will earn a certain number of restricted shares and/or restricted units. No payout would be made for any return below 50% of the target performance metric. 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. The Rule of 70 does not apply to Trustees. For the individuals mentioned above who receive awards under the executive compensation program and retire at or after age 62 (age 72 for the Chairman of the Board) or under the Rule of 70, the award would be prorated in proportion to the number of days worked in the first year of the three-year performance period and the award would continue to vest per the original vesting schedule, subject to the individual’s compliance with the non-competition and employee non-solicitation provisions. The individual would not receive any payout of shares or units until the final payout is determined at the end of the three-year performance period. If an employee violates the non-competition and employee non-solicitation 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, 2015 , 2014 and 2013 (amounts in thousands): Year Ended December 31, 2015 Compensation Expense Compensation Capitalized Restricted Units Compensation Equity Dividends Incurred Restricted shares (2) $ 13,755 $ 1,311 $ — $ 15,066 $ 1,160 Restricted units (2) 17,311 538 3,654 21,503 1,619 Share options 2,746 1,010 — 3,756 — ESPP discount 795 89 — 884 — Total $ 34,607 $ 2,948 $ 3,654 $ 41,209 $ 2,779 . Year Ended December 31, 2014 Compensation Expense Compensation Capitalized Compensation Equity Dividends 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 Expense Compensation Capitalized Compensation Equity Dividends 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 (1) Beginning in 2015, the Company allows officers the ability to receive immediately vested restricted units (subject to the book-up provisions and two-year hold restriction) in-lieu of any percentage of their annual cash bonus. (2) Includes performance awards granted under the executive compensation program. 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, shares or units regardless of cliff or ratable vesting distinctions. • Performance awards – Target amount is recognized under the straight-line method over the vesting period of the shares or units 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, 2015 is $10.6 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, 2015 , 2014 and 2013 : Common Shares Subject to Options Weighted Average Exercise Price per Option Restricted Shares Weighted Average Fair Value per Restricted Share Restricted Weighted 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 — Balance at December 31, 2014 7,030,620 $46.16 482,466 $56.89 623,948 $53.38 Awards granted (1) (5) 171,150 $80.15 174,112 $79.65 337,505 $81.87 Awards exercised/vested (2) (3) (4) (1,456,363 ) $42.64 (127,174 ) $60.21 (72,003 ) $57.12 Awards forfeited (9,550 ) $64.53 (5,970 ) $62.11 (2,009 ) $64.39 Awards expired (1,492 ) $39.86 — — — — Conversion of restricted shares — — (1,284 ) — 1,284 — Balance at December 31, 2015 5,734,365 $48.04 522,150 $63.67 888,725 $63.91 (1) The weighted average grant date fair value for Options granted during the years ended December 31, 2015 , 2014 and 2013 was $13.67 per share, $9.21 per share and $7.97 per share, respectively. (2) The aggregate intrinsic value of options exercised during the years ended December 31, 2015 , 2014 and 2013 was $52.9 million , $50.8 million and $16.7 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, 2015 , 2014 and 2013 was $10.2 million , $10.2 million and $13.9 million , respectively. (4) The fair value of restricted units vested during the years ended December 31, 2015 , 2014 and 2013 was $5.8 million , $3.4 million and $5.1 million , respectively. (5) Includes performance awards granted under the executive compensation program. The following table summarizes information regarding options outstanding and exercisable at December 31, 2015 : Options Outstanding (1) Options Exercisable (2) Range of Exercise Prices Options Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price Options Weighted Average Exercise Price $18.70 to $24.93 865,289 3.10 $23.07 865,289 $23.07 $24.94 to $37.39 634,733 4.10 $32.97 634,733 $32.97 $37.40 to $43.62 446,345 1.17 $40.53 446,345 $40.53 $43.63 to $49.86 2,056 4.83 $48.63 2,056 $48.63 $49.87 to $56.09 1,969,539 5.58 $53.96 1,278,111 $54.06 $56.10 to $62.32 1,648,650 6.92 $58.65 1,209,674 $59.44 $68.56 to $74.78 2,353 9.49 $71.35 — — $74.79 to $81.01 165,400 9.11 $80.27 782 $80.27 $18.70 to $81.01 5,734,365 5.19 $48.04 4,436,990 $45.11 Vested and expected to vest 5,696,241 5.07 $47.96 (1) The aggregate intrinsic value of options outstanding that are vested and expected to vest as of December 31, 2015 is $191.6 million . (2) The aggregate intrinsic value and weighted average remaining contractual life in years of options exercisable as of December 31, 2015 is $161.9 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 $81.59 per share on December 31, 2015 and the strike price of the underlying awards. As of December 31, 2014 and 2013 , 5,011,784 Options (with a weighted average exercise price of $42.18 ) and 6,046,489 Options (with a weighted average exercise price of $38.76 ) were exercisable, respectively.

Employee Plans

Employee Plans	12 Months Ended
	Dec. 31, 2015
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 2,970,072 Common Shares available for purchase under the ESPP at December 31, 2015 . 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, 2015 2014 2013 (Amounts in thousands except share and per share amounts) Shares issued 68,462 68,807 73,468 Issuance price ranges $63.70 – $65.90 $45.90 – $55.95 $44.26 – $48.17 Issuance proceeds $4,404 $3,392 $3,401 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 $5.5 million , $5.2 million and $4.2 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. The Company established 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 S

Distribution Reinvestment and Share Purchase Plan	12 Months Ended
	Dec. 31, 2015
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 had 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 4,775,789 Common Shares available for issuance under the 2014 DRIP at December 31, 2015 . 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 Parti

Transactions With Related Parties	12 Months Ended
	Dec. 31, 2015
Transactions With Related Parties [Abstract]
Related Party Transactions Disclosure [Text Block]	15. Transactions with Related Parties Pursuant to the terms of its partnership agreement, 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, 2015 , 2014 and 2013 , respectively, were approximately $2.6 million , $2.5 million and $1.7 million . The Company believes these amounts equal market rates for such rental space.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
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 certain 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, 2015 . 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, 2015, the Company recorded a reduction to the reserve of approximately $3.0 million , resulting in a total reserve of approximately $3.0 million at December 31, 2015 . 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, 2015 , the Company has 10 wholly owned projects totaling 3,989 apartment units in various stages of development with commitments to fund of approximately $762.3 million 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. As of December 31, 2015 , the Company has two completed unconsolidated development projects that are 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 gave certain construction cost overrun guarantees, the joint venture partner has significant participating rights and has active involvement in and oversight of the ongoing operations. 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. See Note 6 for further discussion. During the years ended December 31, 2015 , 2014 and 2013 , total operating lease payments expensed for office space, including a portion of real estate taxes, insurance, repairs and utilities, and including rent due under 12 ground leases, aggregated $17.8 million , $14.7 million and $13.2 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, 2015 , 2014 and 2013 , the Company recognized compensation expense of $0.4 million , $0.5 million and $0.5 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, 2015 : (Payments)/Receipts Due by Year (in thousands) 2016 2017 2018 2019 2020 Thereafter Total Operating Leases: Minimum Rent Payments (a) $ (15,723 ) $ (15,721 ) $ (15,712 ) $ (15,567 ) $ (15,158 ) $ (839,521 ) $ (917,402 ) Minimum Rent Receipts (b) 70,360 56,759 50,134 45,956 42,050 210,149 475,408 Other Long-Term Liabilities: Deferred Compensation (c) (1,387 ) (1,724 ) (1,724 ) (1,130 ) (1,080 ) (4,797 ) (11,842 ) (a) Minimum basic rent due for various office space the Company leases and fixed base rent due on ground leases for 12 properties. (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, 2015
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 and two of its non-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 – other markets that are not material have also been aggregated in the tables presented below. See also Note 4 for further discussion of the Starwood Transaction and the operating segments/locations in which properties are being sold. The Company’s fee and asset management and development 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, 2015 , 2014 or 2013 . 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 table presents a reconciliation of NOI from our rental real estate specific to continuing operations for the years ended December 31, 2015 , 2014 and 2013 , respectively (amounts in thousands): Year Ended December 31, 2015 2014 2013 Rental income $ 2,736,578 $ 2,605,311 $ 2,378,004 Property and maintenance expense (479,160 ) (473,098 ) (449,427 ) Real estate taxes and insurance expense (339,802 ) (325,401 ) (293,999 ) Property management expense (81,185 ) (79,636 ) (84,342 ) Total operating expenses (900,147 ) (878,135 ) (827,768 ) Net operating income $ 1,836,431 $ 1,727,176 $ 1,550,236 The following tables present NOI for each segment from our rental real estate specific to continuing operations for the years ended December 31, 2015 , 2014 and 2013 , respectively, as well as total assets and capital expenditures at December 31, 2015 and 2014 , respectively (amounts in thousands): Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Rental Income Operating Expenses NOI Rental Income Operating Expenses NOI Rental Income Operating Expenses NOI Same store (1) Boston $ 252,620 $ 81,176 $ 171,444 $ 244,612 $ 77,408 $ 167,204 $ 244,370 $ 78,249 $ 166,121 New York 474,850 176,654 298,196 455,598 170,549 285,049 438,366 165,329 273,037 San Francisco 376,073 108,003 268,070 340,252 106,425 233,827 312,345 108,218 204,127 Seattle 164,319 50,079 114,240 153,197 50,377 102,820 146,109 49,169 96,940 Southern California 433,431 136,559 296,872 410,094 135,091 275,003 401,516 137,667 263,849 Washington D.C. 455,341 149,190 306,151 451,973 145,523 306,450 448,520 140,708 307,812 Non-core – South Florida 202,714 72,792 129,922 191,729 70,295 121,434 182,620 69,475 113,145 Non-core – Denver 120,938 31,708 89,230 111,190 30,811 80,379 103,124 30,567 72,557 Non-core – other 86,419 31,719 54,700 82,745 30,858 51,887 97,380 36,483 60,897 Total same store 2,566,705 837,880 1,728,825 2,441,390 817,337 1,624,053 2,374,350 815,865 1,558,485 Non-same store/other (2) (3) Boston 9,028 2,570 6,458 3,637 841 2,796 2,728 651 2,077 New York 9,835 7,460 2,375 42 92 (50 ) — — — San Francisco 6,408 2,974 3,434 15 147 (132 ) — — — Seattle 22,199 6,478 15,721 6,951 2,172 4,779 4,387 1,336 3,051 Southern California 71,719 26,264 45,455 49,663 19,518 30,145 15,016 6,846 8,170 Washington D.C. 21,822 6,313 15,509 17,927 6,115 11,812 13,562 4,086 9,476 Non-core – South Florida 7,912 2,830 5,082 5,480 2,619 2,861 390 810 (420 ) Other (3) 20,950 7,378 13,572 80,206 29,294 50,912 59,994 34,903 25,091 Total non-same store/other 169,873 62,267 107,606 163,921 60,798 103,123 96,077 48,632 47,445 Archstone pre-ownership (4) — — — — — — (92,423 ) (36,729 ) (55,694 ) Total $ 2,736,578 $ 900,147 $ 1,836,431 $ 2,605,311 $ 878,135 $ 1,727,176 $ 2,378,004 $ 827,768 $ 1,550,236 (1) For the years ended December 31, 2015 and 2014 , same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2014 , less properties subsequently sold, which represented 96,286 apartment units. For the year ended December 31, 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 and also includes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. (2) For the years ended December 31, 2015 and 2014, non-same store primarily includes properties acquired after January 1, 2014 , plus any properties in lease-up and not stabilized as of January 1, 2014 . For the year ended December 31, 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. (3) Other includes development, other corporate operations and operations prior to sale for properties sold in 2014 and 2015 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, 2015 Year Ended December 31, 2014 Total Assets Capital Expenditures Total Assets Capital Expenditures Same store (1) Boston $ 1,840,812 $ 18,759 $ 1,897,740 $ 19,254 New York 4,585,328 19,273 4,647,269 22,118 San Francisco 2,653,629 25,813 2,718,174 26,994 Seattle 1,058,090 13,565 1,087,575 14,333 Southern California 2,725,230 29,729 2,809,390 26,713 Washington D.C. 4,169,317 35,522 4,282,317 44,607 Non-core – South Florida 1,109,699 16,297 1,135,553 14,335 Non-core – Denver 506,317 8,341 520,537 5,863 Non-core – other 322,281 6,115 333,398 4,743 Total same store 18,970,703 173,414 19,431,953 178,960 Non-same store/other (2) (3) Boston 171,832 629 48,323 699 New York 364,475 (8 ) 356,064 12 San Francisco 262,851 6 218,415 — Seattle 453,111 457 335,086 918 Southern California 911,728 6,360 851,812 1,968 Washington D.C. 235,841 677 243,174 467 Non-core – South Florida 64,854 42 67,834 8 Other (3) 1,721,933 536 1,397,953 2,925 Total non-same store/other 4,186,625 8,699 3,518,661 6,997 Total $ 23,157,328 $ 182,113 $ 22,950,614 $ 185,957 (1) Same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2014 , less properties subsequently sold, which represented 96,286 apartment units. (2) Non-same store primarily includes properties acquired after January 1, 2014 , plus any properties in lease-up and not stabilized as of January 1, 2014 . (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 – other segments are as follows: (a) Southern California – Los Angeles, Orange County and San Diego. (b) Non-core – other – Inland Empire, CA, New England (excluding Boston) and Phoenix.

Subsequent Events_Other

Subsequent Events/Other	12 Months Ended
	Dec. 31, 2015
Subsequent Events Other [Abstract]
Subsequent Events/Other	18. Subsequent Events/Other Subsequent Events Subsequent to December 31, 2015 , the Company: • Completed the sale of 72 properties consisting of 23,262 apartment units to controlled affiliates of Starwood Capital Group for $5.365 billion on January 26 and 27, 2016 (see Note 4 for further discussion); • Sold River Tower in New York, NY consisting of 323 apartment units for $390.0 million ; • Sold Woodland Park in East Palo Alto, CA consisting of 1,811 apartment units for $412.5 million ; • In addition to the Starwood Transaction and the sales discussed above, sold six other properties consisting of 766 apartment units and one land parcel for $162.7 million ; • Retired approximately $1.7 billion in debt principal prior to scheduled maturity using proceeds from the Starwood Transaction and other sales discussed above and incurred approximately $112.4 million in prepayment penalties associated with these debt extinguishments. The payoffs included the following secured and unsecured debt: ◦ Repaid $440.8 million of 6.256% mortgage debt held in a Fannie Mae loan pool maturing in 2017 and incurred a prepayment penalty of approximately $29.3 million ; ◦ Repaid $41.8 million of various tax-exempt mortgage bonds maturing in 2026 through 2034 and incurred a prepayment penalty of approximately $0.2 million ; ◦ Repaid $228.9 million of 5.125% unsecured notes maturing in 2016 and incurred a prepayment penalty of approximately $1.4 million ; ◦ Repaid $400.0 million of 5.375% unsecured notes maturing in 2016 and incurred a prepayment penalty of approximately $9.5 million ; ◦ Repaid $255.9 million of 5.750% unsecured notes maturing in 2017 and incurred a prepayment penalty of approximately $16.5 million ; ◦ Repaid $46.1 million of 7.125% unsecured notes maturing in 2017 and incurred a prepayment penalty of approximately $4.6 million ; ◦ Repaid $250.0 million of 4.625% unsecured notes maturing in 2021 and incurred a prepayment penalty of approximately $31.6 million ; ◦ Repaid $48.0 million of 7.570% unsecured notes maturing in 2026 and incurred a prepayment penalty of approximately $19.3 million ; and • Declared a special dividend of $8.00 per share/unit on February 22, 2016 that will be paid on March 10, 2016 to shareholders/unitholders of record as of March 3, 2016 using proceeds from the Starwood Transaction and other sales discussed above. Other During the years ended December 31, 2015 , 2014 and 2013 , the Company incurred charges of $1.0 million , $0.4 million and $0.3 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 $3.2 million , $3.6 million and $5.2 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 $4.2 million , $4.0 million and $5.5 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 years ended December 31, 2015 and 2014, the Company received $6.0 million and $2.8 million , respectively, 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, 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. 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, 2015
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 Quarter Second Quarter Third Quarter Fourth Quarter 2015 3/31 6/30 9/30 12/31 Total revenues $ 666,371 $ 679,112 $ 696,289 $ 703,193 Operating income 218,171 246,184 257,501 286,964 Income from continuing operations 190,069 298,504 205,375 213,673 Discontinued operations, net 155 114 81 47 Net income * 190,224 298,618 205,456 213,720 Net income available to Common Shares 178,842 285,587 195,859 202,989 Earnings per share – basic: Net income available to Common Shares $ 0.49 $ 0.79 $ 0.54 $ 0.56 Weighted average Common Shares outstanding 363,098 363,476 363,579 363,828 Earnings per share – diluted: Net income available to Common Shares $ 0.49 $ 0.78 $ 0.53 $ 0.55 Weighted average Common Shares outstanding 380,327 380,491 380,663 381,220 First Quarter Second Quarter Third Quarter Fourth Quarter 2014 3/31 6/30 9/30 12/31 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 $ 0.60 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 * The Company did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2015 and 2014 . 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 Quarter Second Quarter Third Quarter Fourth Quarter 2015 3/31 6/30 9/30 12/31 Total revenues $ 666,371 $ 679,112 $ 696,289 $ 703,193 Operating income 218,171 246,184 257,501 286,964 Income from continuing operations 190,069 298,504 205,375 213,673 Discontinued operations, net 155 114 81 47 Net income * 190,224 298,618 205,456 213,720 Net income available to Units 185,901 296,941 203,637 211,039 Earnings per Unit – basic: Net income available to Units $ 0.49 $ 0.79 $ 0.54 $ 0.56 Weighted average Units outstanding 376,696 377,063 377,147 377,380 Earnings per Unit – diluted: Net income available to Units $ 0.49 $ 0.78 $ 0.53 $ 0.55 Weighted average Units outstanding 380,327 380,491 380,663 381,220 First Quarter Second Quarter Third Quarter Fourth Quarter 2014 3/31 6/30 9/30 12/31 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 $ 0.60 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 * The Operating Partnership did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2015 and 2014 . 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 Dep

Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2015
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, 2015 Properties (H) Apartment Units (H) Investment in Real Estate, Gross Accumulated Depreciation Investment in Real Estate, Net Encumbrances (1) Investment in Real Estate – Wholly Owned Unencumbered 211 52,513 $ 17,437,812,582 $ (3,224,397,212 ) $ 14,213,415,370 $ — Investment in Real Estate – Wholly Owned Encumbered 87 23,686 7,054,964,658 (1,464,311,726 ) 5,590,652,932 4,220,456,586 Investment in Real Estate – Wholly Owned Properties 298 76,199 24,492,777,240 (4,688,708,938 ) 19,804,068,302 4,220,456,586 Investment in Real Estate – Partially Owned Unencumbered 9 1,661 262,146,372 (96,031,075 ) 166,115,297 — Investment in Real Estate – Partially Owned Encumbered 10 2,110 427,427,967 (120,665,999 ) 306,761,968 343,428,578 Investment in Real Estate – Partially Owned Properties 19 3,771 689,574,339 (216,697,074 ) 472,877,265 343,428,578 Total Investment in Real Estate 317 79,970 $ 25,182,351,579 $ (4,905,406,012 ) $ 20,276,945,567 $ 4,563,885,164 Real Estate Held For Sale – Wholly Owned Unencumbered 68 21,494 $ 3,118,799,507 $ (1,075,431,644 ) $ 2,043,367,863 $ — Real Estate Held For Sale – Wholly Owned Encumbered (2) 4 1,768 241,545,360 (103,778,656 ) 137,766,704 140,985,116 Total Real Estate Held For Sale 72 23,262 $ 3,360,344,867 $ (1,179,210,300 ) $ 2,181,134,567 $ 140,985,116 Total Unencumbered Properties 288 75,668 $ 20,818,758,461 $ (4,395,859,931 ) $ 16,422,898,530 $ — Total Encumbered Properties 101 27,564 7,723,937,985 (1,688,756,381 ) 6,035,181,604 4,704,870,280 Total Investment in Real Estate and Real Estate Held For Sale 389 103,232 $ 28,542,696,446 $ (6,084,616,312 ) $ 22,458,080,134 $ 4,704,870,280 (1) See attached Encumbrances Reconciliation. (2) Includes certain mortgage debt that was required to be paid off prior to closing the Starwood Transaction. EQUITY RESIDENTIAL ERP OPERATING LIMITED PARTNERSHIP Schedule III - Real Estate and Accumulated Depreciation Encumbrances Reconciliation December 31, 2015 Portfolio/Entity Encumbrances Number of Properties Encumbered by See Properties With Note: Partially Owned Encumbrances Wholly Owned Encumbrances Total Amount EQR-Fanwell 2007 LP 4 I $ — $ 300,000,000 $ 300,000,000 EQR-Wellfan 2008 LP (R) 10 J — 550,000,000 550,000,000 ASN-Fannie Mae 3 5 K 24,223,525 438,177,000 462,400,525 Archstone Master Property Holdings LLC 13 L — 800,000,000 800,000,000 Portfolio/Entity Encumbrances 32 24,223,525 2,088,177,000 2,112,400,525 Property Encumbrances – Investment in Real Estate 319,205,053 2,132,279,586 2,451,484,639 Total Encumbrances – Investment in Real Estate 343,428,578 4,220,456,586 4,563,885,164 Property Encumbrances – Real Estate Held For Sale — 140,985,116 140,985,116 Total Encumbrances per Financial Statements $ 343,428,578 $ 4,361,441,702 $ 4,704,870,280 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, 2015 , 2014 and 2013 are as follows: 2015 2014 2013 Balance, beginning of year $ 27,675,383 $ 26,800,948 $ 21,008,429 Acquisitions and development 964,645 1,121,423 9,273,492 Improvements 186,104 191,243 139,950 Dispositions and other (283,435 ) (438,231 ) (3,620,923 ) Balance, end of year (1) $ 28,542,697 $ 27,675,383 $ 26,800,948 The changes in accumulated depreciation for the years ended December 31, 2015 , 2014 and 2013 are as follows: 2015 2014 2013 Balance, beginning of year $ 5,432,805 $ 4,807,709 $ 4,912,221 Depreciation 765,895 758,861 1,013,353 Dispositions and other (114,084 ) (133,765 ) (1,117,865 ) Balance, end of year (1) $ 6,084,616 $ 5,432,805 $ 4,807,709 (1) Balances at December 31, 2015 include assets classified as real estate held for sale EQUITY RESIDENTIAL ERP OPERATING LIMITED PARTNERSHIP Schedule III - Real Estate and Accumulated Depreciation December 31, 2015 Description Initial Cost to Company Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) Gross Amount Carried at Close of Period 12/31/15 Apartment Name Location Retail/Commercial Space Date of Construction Apartment Units (H) Land Building & Fixtures Building & Fixtures Land Building & Fixtures (A) Total (B) Accumulated Depreciation (C) Investment in Real Estate, Net at 12/31/15 (B) Encumbrances Investment in Real Estate – Wholly Owned Unencumbered: 100 K Street Washington, D.C. — (F) — $ 15,600,000 $ 3,409,415 $ — $ 15,600,000 $ 3,409,415 $ 19,009,415 $ — $ 19,009,415 $ — 170 Amsterdam New York, NY G 2015 236 — 111,609,104 3,648 — 111,612,752 111,612,752 (2,550,383 ) 109,062,369 — 175 Kent Brooklyn, NY G 2011 113 22,037,831 53,962,169 1,187,580 22,037,831 55,149,749 77,187,580 (10,449,629 ) 66,737,951 — 180 Montague (fka Brooklyn Heights) Brooklyn, NY G 2000 193 32,400,000 92,675,228 1,964,453 32,400,000 94,639,681 127,039,681 (13,281,633 ) 113,758,048 — 1111 Belle Pre (fka The Madison) Alexandria, VA G 2014 360 18,937,702 92,822,313 109,202 18,937,702 92,931,515 111,869,217 (8,083,006 ) 103,786,211 — 1210 Mass Washington, D.C. G 2004 144 9,213,512 36,559,189 1,158,827 9,213,512 37,718,016 46,931,528 (14,010,670 ) 32,920,858 — 1401 E. Madison Seattle, WA — (F) — 10,394,673 2,735,646 — 10,394,673 2,735,646 13,130,319 — 13,130,319 — 1500 Mass Ave Washington, D.C. G 1951 556 54,638,298 40,361,702 13,920,874 54,638,298 54,282,576 108,920,874 (18,412,591 ) 90,508,283 — 1800 Oak (fka Rosslyn) Arlington, VA G 2003 314 31,400,000 109,005,734 2,461,258 31,400,000 111,466,992 142,866,992 (15,629,471 ) 127,237,521 — 200 N Lemon Street Anaheim, CA — (F) — 5,865,235 3,722,655 — 5,865,235 3,722,655 9,587,890 — 9,587,890 — 2nd & Pine (fka 204-206 Pine Street/1610 2nd Avenue) Seattle, WA G (F) — 22,323,720 73,357,643 — 22,323,720 73,357,643 95,681,363 — 95,681,363 — 2201 Pershing Drive Arlington, VA G 2012 188 11,321,198 49,674,175 2,036,904 11,321,198 51,711,079 63,032,277 (7,033,954 ) 55,998,323 — 2201 Wilson Arlington, VA G 2000 219 21,900,000 78,724,663 1,495,753 21,900,000 80,220,416 102,120,416 (11,064,780 ) 91,055,636 — 2400 M St Washington, D.C. G 2006 359 30,006,593 114,013,785 3,650,345 30,006,593 117,664,130 147,670,723 (41,374,875 ) 106,295,848 — 315 on A Boston, MA G 2013 202 14,450,070 115,824,930 169,215 14,450,070 115,994,145 130,444,215 (6,171,735 ) 124,272,480 — 340 Fremont (fka Rincon Hill) San Francisco, CA — (F) — 42,000,000 176,850,680 — 42,000,000 176,850,680 218,850,680 — 218,850,680 — 45 Worthington Boston, MA — (F) — — 1,648,869 — — 1,648,869 1,648,869 — 1,648,869 — 420 East 80th Street New York, NY — 1961 155 39,277,000 23,026,984 4,002,776 39,277,000 27,029,760 66,306,760 (11,554,868 ) 54,751,892 — 425 Mass Washington, D.C. G 2009 559 28,150,000 138,600,000 3,574,977 28,150,000 142,174,977 170,324,977 (34,957,838 ) 135,367,139 — 455 I Street (fka 443-459 Eye Street) Washington, D.C. G (F) — 12,762,857 16,214,611 — 12,762,857 16,214,611 28,977,468 — 28,977,468 — 4885 Edgemoor Lane Bethesda, MD — (F) — — 875,185 — — 875,185 875,185 — 875,185 — 4th and Hill Los Angeles, CA — (F) — 13,131,456 5,642,930 — 13,131,456 5,642,930 18,774,386 — 18,774,386 — 600 Washington New York, NY G 2004 135 32,852,000 43,140,551 580,906 32,852,000 43,721,457 76,573,457 (16,469,799 ) 60,103,658 — 660 Washington (fka Boston Common) Boston, MA G 2006 420 106,100,000 166,311,679 1,378,724 106,100,000 167,690,403 273,790,403 (23,978,444 ) 249,811,959 — 70 Greene Jersey City, NJ G 2010 480 28,108,899 236,763,553 838,875 28,108,899 237,602,428 265,711,327 (50,058,634 ) 215,652,693 — 71 Broadway New York, NY G 1997 238 22,611,600 77,492,171 12,183,139 22,611,600 89,675,310 112,286,910 (35,917,280 ) 76,369,630 — 77 Bluxome San Francisco, CA — 2007 102 5,249,124 18,609,876 175,686 5,249,124 18,785,562 24,034,686 (3,551,433 ) 20,483,253 — 777 Sixth New York, NY G 2002 294 65,352,706 65,747,294 1,708,867 65,352,706 67,456,161 132,808,867 (22,000,130 ) 110,808,737 — 88 Hillside Daly City, CA G 2011 95 7,786,800 31,587,325 1,740,889 7,786,800 33,328,214 41,115,014 (5,965,778 ) 35,149,236 — 855 Brannan (fka 801 Brannan) San Francisco, CA G (F) — 41,363,921 59,118,300 — 41,363,921 59,118,300 100,482,221 — 100,482,221 — Abington Glen Abington, MA — 1968 90 553,105 3,697,396 2,707,619 553,105 6,405,015 6,958,120 (4,378,376 ) 2,579,744 — Alban Towers Washington, D.C. — 1934 229 18,900,000 89,794,201 646,083 18,900,000 90,440,284 109,340,284 (12,554,736 ) 96,785,548 — Altitude (fka Village at Howard Hughes, The (Lots 1 & 2)) Los Angeles, CA — (F) — 43,783,485 110,209,151 — 43,783,485 110,209,151 153,992,636 — 153,992,636 — Alton, The (fka Millikan) Irvine, CA — (F) — 11,049,027 64,366,946 — 11,049,027 64,366,946 75,415,973 — 75,415,973 — Arbor Terrace Sunnyvale, CA — 1979 175 9,057,300 18,483,642 2,639,125 9,057,300 21,122,767 30,180,067 (13,158,508 ) 17,021,559 — Arboretum (MA) Canton, MA — 1989 156 4,685,900 10,992,751 4,207,099 4,685,900 15,199,850 19,885,750 (8,869,308 ) 11,016,442 — Artisan on Second Los Angeles, CA — 2008 118 8,000,400 36,074,600 469,032 8,000,400 36,543,632 44,544,032 (7,896,054 ) 36,647,978 — Artistry Emeryville (fka Emeryville) Emeryville, CA — 1994 261 12,300,000 61,466,267 1,771,039 12,300,000 63,237,306 75,537,306 (9,620,717 ) 65,916,589 — Avenue Two Redwood City, CA — 1972 123 7,995,000 18,005,000 1,647,581 7,995,000 19,652,581 27,647,581 (4,179,196 ) 23,468,385 — Azure (at Mission Bay) San Francisco, CA — 2015 273 32,855,115 150,600,329 629 32,855,115 150,600,958 183,456,073 (2,077,524 ) 181,378,549 — Bay Hill Long Beach, CA — 2002 160 7,600,000 27,437,239 1,934,347 7,600,000 29,371,586 36,971,586 (11,990,933 ) 24,980,653 — Beatrice, The New York, NY G 2010 302 114,351,405 165,648,595 676,595 114,351,405 166,325,190 280,676,595 (29,116,223 ) 251,560,372 — 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 28,701,192 473,126 9,098,808 29,174,318 38,273,126 (5,588,486 ) 32,684,640 — Berkeley Land Berkeley, CA — (F) — 14,108,910 11,357,375 — 14,108,910 11,357,375 25,466,285 — 25,466,285 — Bradford Apartments Newington, CT — 1964 64 401,091 2,681,210 961,845 401,091 3,643,055 4,044,146 (2,066,615 ) 1,977,531 — Breakwater at Marina Del Rey Marina Del Rey, CA — 1964-1969 224 — 73,189,262 649,866 — 73,839,128 73,839,128 (11,205,489 ) 62,633,639 — EQUITY RESIDENTIAL ERP OPERATING LIMITED PARTNERSHIP Schedule III - Real Estate and Accumulated Depreciation December 31, 2015 Description Initial Cost to Company Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) Gross Amount Carried at Close of Period 12/31/15 Apartment Name Location Retail/Commercial Space Date of Construction Apartment Units (H) Land Building & Fixtures Building & Fixtures Land Building & Fixtures (A) Total (B) Accumulated Depreciation (C) Investment in Real Estate, Net at 12/31/15 (B) Encumbrances Briar Knoll Apts Vernon, CT — 1986 150 928,972 6,209,988 2,633,266 928,972 8,843,254 9,772,226 (4,794,357 ) 4,977,869 — Briarwood (CA) Sunnyvale, CA — 1985 192 9,991,500 22,247,278 3,514,394 9,991,500 25,761,672 35,753,172 (14,944,409 ) 20,808,763 — Bridford Lakes II Greensboro, NC — (F) — 1,100,564 792,508 — 1,100,564 792,508 1,893,072 — 1,893,072 — Brooklyner, The (fka 111 Lawrence) Brooklyn, NY G 2010 490 40,099,922 221,438,631 1,387,079 40,099,922 222,825,710 262,925,632 (38,804,697 ) 224,120,935 — Cambridge Park Cambridge, MA G 2002 312 31,200,000 106,048,587 2,123,216 31,200,000 108,171,803 139,371,803 (15,523,923 ) 123,847,880 — Carlyle Mill Alexandria, VA — 2002 317 10,000,000 51,367,913 7,134,848 10,000,000 58,502,761 68,502,761 (26,086,693 ) 42,416,068 — Cascade Seattle, WA G (F) — 23,751,564 43,951,916 — 23,751,564 43,951,916 67,703,480 — 67,703,480 — Centennial (fka Centennial Court & Centennial Tower) Seattle, WA G 1991/2001 408 9,700,000 70,080,378 8,150,667 9,700,000 78,231,045 87,931,045 (30,555,738 ) 57,375,307 — Centre Club Combined Ontario, CA — 1994 & 2002 412 7,436,000 33,014,789 6,071,471 7,436,000 39,086,260 46,522,260 (20,011,745 ) 26,510,515 — Church Corner Cambridge, MA G 1987 85 5,220,000 16,744,643 2,021,207 5,220,000 18,765,850 23,985,850 (7,784,093 ) 16,201,757 — City Gate at Cupertino (fka Cupertino) Cupertino, CA — 1998 311 40,400,000 95,937,046 3,164,548 40,400,000 99,101,594 139,501,594 (13,831,042 ) 125,670,552 — City Pointe Fullerton, CA G 2004 183 6,863,792 36,476,208 799,333 6,863,792 37,275,541 44,139,333 (10,525,198 ) 33,614,135 — City Square Bellevue (fka Bellevue) Bellevue, WA G 1998 191 15,100,000 41,876,257 2,633,430 15,100,000 44,509,687 59,609,687 (6,132,286 ) 53,477,401 — Clarendon, The Arlington, VA G 2005 292 30,400,340 103,824,660 2,066,458 30,400,340 105,891,118 136,291,458 (22,819,650 ) 113,471,808 — Cleo, The Los Angeles, CA — 1989 92 6,615,467 14,829,335 3,799,207 6,615,467 18,628,542 25,244,009 (7,638,498 ) 17,605,511 — Corcoran House at DuPont Circle (fka DuPont Circle) Washington, D.C. G 1961 137 13,500,000 26,913,113 1,352,210 13,500,000 28,265,323 41,765,323 (4,701,324 ) 37,063,999 — Courthouse Plaza Arlington, VA G 1990 396 — 87,386,024 3,941,196 — 91,327,220 91,327,220 (14,489,207 ) 76,838,013 — Creekside (San Mateo) San Mateo, CA — 1985 192 9,606,600 21,193,232 3,681,274 9,606,600 24,874,506 34,481,106 (14,783,421 ) 19,697,685 — Cronins Landing Waltham, MA G 1998 281 32,300,000 85,119,324 3,008,274 32,300,000 88,127,598 120,427,598 (12,711,972 ) 107,715,626 — Crystal Place Arlington, VA — 1986 181 17,200,000 47,918,975 2,609,270 17,200,000 50,528,245 67,728,245 (7,196,001 ) 60,532,244 — Dean Estates Taunton, MA — 1984 58 498,080 3,329,560 840,538 498,080 4,170,098 4,668,178 (2,431,087 ) 2,237,091 — Eagle Canyon Chino Hills, CA — 1985 252 1,808,900 16,274,361 8,358,167 1,808,900 24,632,528 26,441,428 (16,229,794 ) 10,211,634 — Edgemont at Bethesda Metro Bethesda, MD — 1989 122 13,092,552 43,907,448 947,391 13,092,552 44,854,839 57,947,391 (8,612,518 ) 49,334,873 — Elevé Glendale, CA G 2013 208 14,080,560 56,419,440 186,855 14,080,560 56,606,295 70,686,855 (5,258,108 ) 65,428,747 — Emerson Place Boston, MA G 1962 444 14,855,000 57,566,636 18,997,536 14,855,000 76,564,172 91,419,172 (49,539,039 ) 41,880,133 — Encinitas Heights (fka Encinitas) Encinitas, CA G 2002 120 12,000,000 29,207,497 294,376 12,000,000 29,501,873 41,501,873 (4,700,031 ) 36,801,842 — Encore at Sherman Oaks, The Sherman Oaks, CA — 1988 174 8,700,000 25,446,003 1,110,902 8,700,000 26,556,905 35,256,905 (6,547,074 ) 28,709,831 — Fountains at Emerald Park (fka Emerald Park) Dublin, CA — 2000 324 25,900,000 83,986,217 742,760 25,900,000 84,728,977 110,628,977 (12,566,319 ) 98,062,658 — Fox Hill Apartments Enfield, CT — 1974 168 1,129,018 7,547,256 2,297,171 1,129,018 9,844,427 10,973,445 (5,478,777 ) 5,494,668 — Fremont Center Fremont, CA G 2002 322 25,800,000 78,753,114 1,392,624 25,800,000 80,145,738 105,945,738 (11,547,488 ) 94,398,250 — Gallery, The Hermosa Beach, CA — 1971 169 18,144,000 46,567,941 2,495,809 18,144,000 49,063,750 67,207,750 (18,185,915 ) 49,021,835 — Gateway at Malden Center Malden, MA G 1988 203 9,209,780 25,722,666 13,139,391 9,209,780 38,862,057 48,071,837 (19,457,428 ) 28,614,409 — Geary Court Yard San Francisco, CA — 1990 164 1,722,400 15,471,429 4,137,461 1,722,400 19,608,890 21,331,290 (11,745,089 ) 9,586,201 — Glen Meadow Franklin, MA — 1971 288 2,339,330 16,133,588 4,187,941 2,339,330 20,321,529 22,660,859 (12,098,366 ) 10,562,493 — Greenfield Village Rocky Hill , CT — 1965 151 911,534 6,093,418 827,545 911,534 6,920,963 7,832,497 (3,865,157 ) 3,967,340 — Hampshire Place Los Angeles, CA — 1989 259 10,806,000 30,335,330 3,646,785 10,806,000 33,982,115 44,788,115 (14,251,207 ) 30,536,908 — Harbor Steps Seattle, WA G 2000 758 59,387,158 158,829,432 15,887,513 59,387,158 174,716,945 234,104,103 (66,524,689 ) 167,579,414 — Heritage at Stone Ridge Burlington, MA — 2005 180 10,800,000 31,808,335 1,471,640 10,800,000 33,279,975 44,079,975 (12,980,415 ) 31,099,560 — Heritage Ridge Lynwood, WA — 1999 197 6,895,000 18,983,597 1,006,685 6,895,000 19,990,282 26,885,282 (8,656,120 ) 18,229,162 — Heron Pointe Boynton Beach, FL — 1989 192 1,546,700 7,774,676 2,626,877 1,546,700 10,401,553 11,948,253 (7,058,305 ) 4,889,948 — Hesby North Hollywood, CA — 2013 308 23,299,892 102,700,108 203,388 23,299,892 102,903,496 126,203,388 (9,214,042 ) 116,989,346 — High Meadow Ellington, CT — 1975 100 583,679 3,901,774 1,342,073 583,679 5,243,847 5,827,526 (2,886,630 ) 2,940,896 — Highland Glen Westwood, MA — 1979 180 2,229,095 16,828,153 2,895,346 2,229,095 19,723,499 21,952,594 (10,982,160 ) 10,970,434 — Highland Glen II Westwood, MA — 2007 102 — 19,875,857 203,172 — 20,079,029 20,079,029 (6,387,155 ) 13,691,874 — Highlands at Cherry Hill Cherry Hills, NJ — 2002 170 6,800,000 21,459,108 1,058,592 6,800,000 22,517,700 29,317,700 (8,801,180 ) 20,516,520 — Highlands at South Plainfield South Plainfield, NJ — 2000 252 10,080,000 37,526,912 1,313,527 10,080,000 38,840,439 48,920,439 (14,496,059 ) 34,424,380 — Hikari Los Angeles, CA G 2007 128 9,435,760 32,564,240 494,697 9,435,760 33,058,937 42,494,697 (6,882,542 ) 35,612,155 — EQUITY RESIDENTIAL ERP OPERATING LIMITED PARTNERSHIP Schedule III - Real Estate and Accumulated Depreciation December 31, 2015 Description Initial Cost to Company Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) Gross Amount Carried at Close of Period 12/31/15 Apartment Name Location Retail/Commercial Space Date of Construction Apartment Units (H) Land Building & Fixtures Building & Fixtures Land Building & Fixtures (A) Total (B) Accumulated Depreciation (C) Investment in Real Estate, Net at 12/31/15 (B) Encumbrances Hudson Crossing New York, NY G 2003 259 23,420,000 69,977,699 2,026,803 23,420,000 72,004,502 95,424,502 (28,426,002 ) 66,998,500 — Hudson Crossing II New York, NY — (F) — 10,599,286 2,025,249 — 10,599,286 2,025,249 12,624,535 — 12,624,535 — Hudson Pointe Jersey City, NJ — 2003 182 5,350,000 41,114,074 3,378,496 5,350,000 44,492,570 49,842,570 (18,501,842 ) 31,340,728 — Hunt Club II Charlotte, NC — (F) — 100,000 — — 100,000 — 100,000 — 100,000 — Ivory Wood Bothell, WA — 2000 144 2,732,800 13,888,282 874,464 2,732,800 14,762,746 17,495,546 (6,352,195 ) 11,143,351 — Jia (fka Chinatown Gateway) Los Angeles, CA G 2014 280 14,791,831 76,010,218 115,966 14,791,831 76,126,184 90,918,015 (7,438,023 ) 83,479,992 — Junction 47 (fka West Seattle) Seattle, WA G 2015 206 11,726,305 54,388,245 45 11,726,305 54,388,290 66,114,595 (684,861 ) 65,429,734 — Kelvin, The Irvine, CA — 2015 194 15,521,552 64,853,448 10,657 15,521,552 64,864,105 80,385,657 (1,340,371 ) 79,045,286 — Kendall Square II Cambridge, MA — (F) — — 1,105,465 — — 1,105,465 1,105,465 — 1,105,465 — Landings at Port Imperial W. New York, NJ — 1999 276 27,246,045 37,741,050 7,917,500 27,246,045 45,658,550 72,904,595 (25,157,567 ) 47,747,028 — Lincoln Heights Quincy, MA — 1991 336 5,928,400 33,595,262 12,316,194 5,928,400 45,911,456 51,839,856 (29,948,038 ) 21,891,818 — Lindley Apartments Encino, CA — 2004 129 5,805,000 25,705,000 797,056 5,805,000 26,502,056 32,307,056 (6,457,391 ) 25,849,665 — Lofts 590 Arlington, VA — 2005 212 20,100,000 67,909,023 291,850 20,100,000 68,200,873 88,300,873 (9,179,835 ) 79,121,038 — Lofts at Kendall Square (fka Kendall Square) Cambridge, MA — 1998 186 23,300,000 78,445,657 4,174,184 23,300,000 82,619,841 105,919,841 (11,149,971 ) 94,769,870 — Longacre House New York, NY G 2000 293 73,170,045 53,962,510 1,449,025 73,170,045 55,411,535 128,581,580 (19,189,340 ) 109,392,240 — Longfellow Place Boston, MA G 1975 710 47,096,917 153,899,994 73,147,489 47,096,917 227,047,483 274,144,400 (129,782,488 ) 144,361,912 — Mantena New York, NY G 2012 98 22,346,513 61,501,158 492,732 22,346,513 61,993,890 84,340,403 (9,234,987 ) 75,105,416 — Marina 41 (fka Marina Del Rey) Marina Del Rey, CA — 1973 623 — 168,842,442 4,909,098 — 173,751,540 173,751,540 (27,415,993 ) 146,335,547 — Mariposa at Playa Del Rey (fka Playa Del Rey) Playa Del Rey, CA — 2004 354 60,900,000 89,311,482 4,016,502 60,900,000 93,327,984 154,227,984 (13,774,366 ) 140,453,618 — Milano Lofts Los Angeles, CA G 1925/2006 99 8,125,216 27,378,784 381,581 8,125,216 27,760,365 35,885,581 (4,712,661 ) 31,172,920 — Monte Viejo Phoenix, AZ — 2004 480 12,700,000 45,926,784 1,757,827 12,700,000 47,684,611 60,384,611 (19,906,193 ) 40,478,418 — Mountain View Redevelopment Mountain View, CA — (F) — — 6,539 — — 6,539 6,539 — 6,539 — Mozaic at Union Station Los Angeles, CA — 2007 272 8,500,000 52,529,446 1,554,378 8,500,000 54,083,824 62,583,824 (18,494,933 ) 44,088,891 — Murray Hill Tower (fka Murray Hill) New York, NY G 1974 270 75,800,000 102,705,401 3,764,623 75,800,000 106,470,024 182,270,024 (17,676,937 ) 164,593,087 — Northglen Valencia, CA — 1988 234 9,360,000 20,778,553 2,259,421 9,360,000 23,037,974 32,397,974 (12,381,522 ) 20,016,452 — Northpark Burlingame, CA — 1972 510 38,607,000 77,472,217 11,916,802 38,607,000 89,389,019 127,996,019 (25,399,200 ) 102,596,819 — Northridge Pleasant Hill, CA — 1974 221 5,527,800 14,691,705 10,416,100 5,527,800 25,107,805 30,635,605 (16,166,627 ) 14,468,978 — Oak Park Combined Agoura Hills, CA — 1989 & 1990 444 3,390,700 30,517,274 9,019,341 3,390,700 39,536,615 42,927,315 (27,064,200 ) 15,863,115 — Oakwood Boston Boston, MA G 1901 94 22,200,000 28,672,979 1,262,957 22,200,000 29,935,936 52,135,936 (4,761,170 ) 47,374,766 — Oakwood Crystal City Arlington, VA — 1987 162 15,400,000 35,474,336 747,540 15,400,000 36,221,876 51,621,876 (5,451,482 ) 46,170,394 — Oakwood Marina Del Rey Marina Del Rey, CA — 1969 597 — 120,795,359 2,191,084 — 122,986,443 122,986,443 (19,217,166 ) 103,769,277 — Ocean Crest Solana Beach, CA — 1986 146 5,111,200 11,910,438 3,243,097 5,111,200 15,153,535 20,264,735 (9,238,961 ) 11,025,774 — Odin (fka Tallman) Seattle, WA — 2015 301 16,807,519 63,101,811 241 16,807,519 63,102,052 79,909,571 (623,866 ) 79,285,705 — Old Town Lofts Redmond, WA G 2014 149 7,740,467 44,146,181 159,751 7,740,467 44,305,932 52,046,399 (734,373 ) 51,312,026 — One Henry Adams San Francisco, CA G (F) — 30,224,393 59,682,378 — 30,224,393 59,682,378 89,906,771 — 89,906,771 — Pacific Place Los Angeles, CA — 2008 430 32,250,000 110,750,000 989,768 32,250,000 111,739,768 143,989,768 (13,998,683 ) 129,991,085 — Parc 77 New York, NY G 1903 137 40,504,000 18,025,679 5,558,590 40,504,000 23,584,269 64,088,269 (10,342,724 ) 53,745,545 — Parc Cameron New York, NY G 1927 166 37,600,000 9,855,597 6,604,055 37,600,000 16,459,652 54,059,652 (8,709,483 ) 45,350,169 — Parc Coliseum New York, NY G 1910 177 52,654,000 23,045,751 8,549,855 52,654,000 31,595,606 84,249,606 (14,193,545 ) 70,056,061 — Parc East Towers New York, NY G 1977 324 102,163,000 108,989,402 8,398,427 102,163,000 117,387,829 219,550,829 (40,021,695 ) 179,529,134 — Parc on Powell (fka 1333 Powell) Emeryville, CA G 2015 173 16,667,059 66,308,322 4,993 16,667,059 66,313,315 82,980,374 (1,386,523 ) 81,593,851 — Park at Pentagon Row (fka Pentagon City) Arlington, VA G 1990 298 28,300,000 78,838,184 700,661 28,300,000 79,538,845 107,838,845 (11,504,796 ) 96,334,049 — Park Connecticut Washington, D.C. — 2000 142 13,700,000 59,087,519 757,785 13,700,000 59,845,304 73,545,304 (8,000,115 ) 65,545,189 — Park Hacienda (fka Hacienda) Pleasanton, CA — 2000 540 43,200,000 128,753,359 774,074 43,200,000 129,527,433 172,727,433 (19,900,917 ) 152,826,516 — Park West (CA) Los Angeles, CA — 1987/1990 444 3,033,500 27,302,383 9,419,065 3,033,500 36,721,448 39,754,948 (24,776,986 ) 14,977,962 — Parkside Union City, CA — 1979 208 6,246,700 11,827,453 3,981,119 6,246,700 15,808,572 22,055,272 (10,527,862 ) 11,527,410 — Pearl, The Seattle, WA G 2008 80 6,972,585 26,527,415 — 6,972,585 26,527,415 33,500,000 — 33,500,000 — EQUITY RESIDENTIAL ERP OPERATING LIMITED PARTNERSHIP Schedule III - Real Estate and Accumulated Depreciation December 31, 2015 Description Initial Cost to Company Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) Gross Amount Carried at Close of Period 12/31/15 Apartment Name Location Retail/Commercial Space Date of Construction Apartment Units (H) Land Building & Fixtures Building & Fixtures Land Building & Fixtures (A) Total (B) Accumulated Depreciation (C) Investment in Real Estate, Net at 12/31/15 (B) Encumbrances Pegasus Los Angeles, CA G 1949/2003 322 18,094,052 81,905,948 2,764,585 18,094,052 84,670,533 102,764,585 (19,826,265 ) 82,938,320 — Phillips Park Wellesley, MA — 1988 49 816,922 5,460,955 1,157,352 816,922 6,618,307 7,435,229 (3,766,443 ) 3,668,786 — Playa Pacifica Hermosa Beach, CA — 1972 285 35,100,000 33,473,822 12,699,944 35,100,000 46,173,766 81,273,766 (19,897,231 ) 61,376,535 — Portofino Chino Hills, CA — 1989 176 3,572,400 14,660,994 3,510,897 3,572,400 18,171,891 21,744,291 (11,352,508 ) 10,391,783 — Portofino (Val) Valencia, CA — 1989 216 8,640,000 21,487,126 3,296,844 8,640,000 24,783,970 33,423,970 (13,318,844 ) 20,105,126 — Portside Towers Jersey City, NJ G 1992-1997 527 22,487,006 96,842,913 19,873,490 22,487,006 116,716,403 139,203,409 (71,088,414 ) 68,114,995 — Potrero 1010 San Francisco, CA G (F) — 40,830,011 133,910,937 — 40,830,011 133,910,937 174,740,948 — 174,740,948 — Prado (fka Glendale) Glendale, CA — 1988 264 — 67,977,313 2,061,951 — 70,039,264 70,039,264 (9,953,439 ) 60,085,825 — Prime, The Arlington, VA — 2002 256 32,000,000 64,436,539 1,301,267 32,000,000 65,737,806 97,737,806 (23,364,019 ) 74,373,787 — Prism at Park Avenue South (fka 400 Park Avenue South) New York, NY G 2015 269 76,292,169 163,700,126 — 76,292,169 163,700,126 239,992,295 (5,492,140 ) 234,500,155 — Promenade at Town Center I & II Valencia, CA — 2001 564 28,200,000 69,795,915 5,471,517 28,200,000 75,267,432 103,467,432 (33,050,350 ) 70,417,082 — Quarry Hills Quincy, MA — 2006 316 26,900,000 84,411,162 813,007 26,900,000 85,224,169 112,124,169 (12,835,782 ) 99,288,387 — Red 160 (fka Redmond Way) Redmond, WA G 2011 250 15,546,376 65,320,010 872,804 15,546,376 66,192,814 81,739,190 (11,437,349 ) 70,301,841 — Redmond Court Bellevue, WA — 1977 206 10,300,000 33,488,745 722,527 10,300,000 34,211,272 44,511,272 (5,429,653 ) 39,081,619 — Regency Palms Huntington Beach, CA — 1969 310 1,857,400 16,713,254 5,591,340 1,857,400 22,304,594 24,161,994 (15,853,559 ) 8,308,435 — Renaissance Villas Berkeley, CA G 1998 34 2,458,000 4,542,000 148,126 2,458,000 4,690,126 7,148,126 (1,571,899 ) 5,576,227 — Reserve at Mountain View (fka Mountian View) Mountain View, CA — 1965 180 27,000,000 33,029,605 2,601,273 27,000,000 35,630,878 62,630,878 (5,569,705 ) 57,061,173 — Reserve at Potomac Yard Alexandria, VA — 2002 588 11,918,917 68,862,641 7,339,599 11,918,917 76,202,240 88,121,157 (31,804,125 ) 56,317,032 — Reserve at Town Center I-III (WA) Mill Creek, WA G 2001, 2009, 2014 584 16,769,205 77,511,523 2,678,501 16,769,205 80,190,024 96,959,229 (24,170,095 ) 72,789,134 — Residences at Westgate I (fka Westgate II) Pasadena, CA G 2014 252 17,859,785 107,725,435 37,183 17,859,785 107,762,618 125,622,403 (6,461,296 ) 119,161,107 — Residences at Westgate II (fka Westgate III) Pasadena, CA G 2015 88 12,118,061 39,965,098 3,415 12,118,061 39,968,513 52,086,574 (1,103,584 ) 50,982,990 — Rianna I Seattle, WA G 2000 78 2,268,160 14,864,482 500,196 2,268,160 15,364,678 17,632,838 (4,413,092 ) 13,219,746 — Ridgewood Village I&II San Diego, CA — 1997 408 11,809,500 34,004,048 5,222,765 11,809,500 39,226,813 51,036,313 (21,544,992 ) 29,491,321 — Riva Terra I (fka Redwood Shores) Redwood City, CA — 1986 304 34,963,355 84,587,658 1,065,313 34,963,355 85,652,971 120,616,326 (13,337,511 ) 107,278,815 — Riva Terra II (fka Harborside) Redwood City, CA — 1986 149 17,136,645 40,536,531 1,657,715 17,136,645 42,194,246 59,330,891 (6,014,126 ) 53,316,765 — River Tower New York, NY G 1982 323 118,669,441 98,880,559 6,922,776 118,669,441 105,803,335 224,472,776 (31,766,311 ) 192,706,465 — Riverpark Redmond, WA G 2009 319 14,355,000 80,894,049 852,454 14,355,000 81,746,503 96,101,503 (15,145,119 ) 80,956,384 — Rivers Bend (CT) Windsor, CT — 1973 373 3,325,517 22,573,826 3,383,538 3,325,517 25,957,364 29,282,881 (14,452,521 ) 14,830,360 — Riverview Condominiums Norwalk, CT — 1991 92 2,300,000 7,406,730 2,560,055 2,300,000 9,966,785 12,266,785 (5,911,876 ) 6,354,909 — Rolling Green (Milford) Milford, MA — 1970 304 2,012,350 13,452,150 6,536,428 2,012,350 19,988,578 22,000,928 (11,602,104 ) 10,398,824 — Rosecliff II Quincy, MA — 2005 130 4,922,840 30,202,160 668,021 4,922,840 30,870,181 35,793,021 (6,606,758 ) 29,186,263 — Sakura Crossing Los Angeles, CA G 2009 230 14,641,990 42,858,010 516,747 14,641,990 43,374,757 58,016,747 (10,000,868 ) 48,015,879 — Seventh & James Seattle, WA — 1992 96 663,800 5,974,803 3,738,122 663,800 9,712,925 10,376,725 (6,665,425 ) 3,711,300 — Sheffield Court Arlington, VA — 1986 597 3,342,381 31,337,332 13,786,422 3,342,381 45,123,754 48,466,135 (31,901,556 ) 16,564,579 — Skycrest Valencia, CA — 1999 264 10,560,000 25,574,457 2,534,401 10,560,000 28,108,858 38,668,858 (15,040,496 ) 23,628,362 — Skylark Union City, CA — 1986 174 1,781,600 16,731,916 3,437,547 1,781,600 20,169,463 21,951,063 (11,666,506 ) 10,284,557 — Skyline Terrace Burlingame, CA — 1967 & 1987 138 16,836,000 35,414,000 4,411,395 16,836,000 39,825,395 56,661,395 (10,031,613 ) 46,629,782 — Skyline Towers Falls Church, VA G 1971 939 78,278,200 91,485,591 35,113,125 78,278,200 126,598,716 204,876,916 (60,654,648 ) 144,222,268 — SoMa II San Francisco, CA — (F) — 29,406,496 1,512,966 — 29,406,496 1,512,966 30,919,462 — 30,919,462 — Sonterra at Foothill Ranch Foothill Ranch, CA — 1997 300 7,503,400 24,048,507 4,091,719 7,503,400 28,140,226 35,643,626 (16,219,354 ) 19,424,272 — South City Station (fka South San Francisco) San Francisco, CA G 2007 360 68,900,000 79,476,861 2,029,236 68,900,000 81,506,097 150,406,097 (12,682,198 ) 137,723,899 — South Winds Fall River, MA — 1971 404 2,481,821 16,780,359 5,786,341 2,481,821 22,566,700 25,048,521 (12,988,103 ) 12,060,418 — Southwood Palo Alto, CA — 1985 100 6,936,600 14,324,069 3,133,285 6,936,600 17,457,354 24,393,954 (10,724,438 ) 13,669,516 — 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 11,820 7,222,544 26,289,276 33,511,820 (2,132,808 ) 31,379,012 — EQUITY RESIDENTIAL ERP OPERATING LIMITED PARTNERSHIP Schedule III - Real Estate and Accumulated Depreciation December 31, 2015 Description Initial Cost to Company Cost Capitalized Subsequent to Acquisition(Improvements, net) (E) Gross Amount Carried at Close of Period 12/31/15 Apartment Name Location Retail/Commercial Space Date of Construction Apartment Units (H) Land Building & Fixtures Building & Fixtures Land Building & Fixtures (A) Total (B) Accumulated Depreciation (C) Investment in Real Estate, Net at 12/31/15 (B) Encumbrances 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 3,699,790 1,757,438 15,447,902 17,205,340 (9,010,282 ) 8,195,058 — Summit at Sausalito (fka Sausalito) Sausalito, CA — 1978 198 26,000,000 28,435,024 3,038,378 26,000,000 31,473,402 57,473,402 (5,983,695 ) 51,489,707 — Ten23 (fka 500 West 23rd Street) New York, NY G 2011 111 — 58,881,773 145,689 — 59,027,462 59,027,462 (8,159,767 ) 50,867,695 — Terraces, The San Francisco, CA G 1975 117 14,087,610 16,314,151 792,092 14,087,610 17,106,243 31,193,853 (4,289,162 ) 26,904,691 — Third Square Cambridge, MA G 2008/2009 471 26,767,171 218,822,728 3,752,897 26,767,171 222,575,625 249,342,796 (54,468,452 ) 194,874,344 — Three20 Seattle, WA G 2013 134 7,030,766 29,005,762 620,352 7,030,766 29,626,114 36,656,880 (2,968,086 ) 33,688,794 — Town Center South Commercial Tract St. Charles, MD — (F) — 1,500,000 9,394 — 1,500,000 9,394 1,509,394 — 1,509,394 — Town Square at Mark Center II Alexandria, VA — 2001 272 15,568,464 55,029,607 891,715 15,568,464 55,921,322 71,489,786 (15,215,629 ) 56,274,157 — Trump Place, 140 Riverside New York, NY G 2003 354 103,539,100 94,082,725 5,016,383 103,539,100 99,099,108 202,638,208 (37,252,860 ) 165,385,348 — Trump Place, 160 Riverside New York, NY G 2001 455 139,933,500 190,964,745 11,256,618 139,933,500 202,221,363 342,154,863 (74,504,178 ) 267,650,685 — Trump Place, 180 Riverside New York, NY G 1998 516 144,968,250 138,346,681 9,992,673 144,968,250 148,339,354 293,307,604 (56,241,522 ) 237,066,082 — Urbana (fka Market Street Landing) Seattle, WA G 2014 287 12,542,418 74,480,619 269,601 12,542,4

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
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 $10,000 and $25,000 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 economic age of the 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. In-place retail leases' term at acquisition approximates the average remaining term of all acquired retail leases. 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 sale when it is probable a property will be disposed of (see below and Note 4 for further discussion). 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 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 sale 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 sale.
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, 2015 , 2014 and 2013 , the Company capitalized $22.3 million , $22.4 million and $16.5 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, 2015 and 2014 , 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 line 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 $45.4 million and $37.7 million at December 31, 2015 and 2014 , 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 residential 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. Rental income attributable to retail/commercial leases is also recorded on a straight-line 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 partnership interest ("OP Units") to EQR on a one-for-one basis, with ERPOP receiving the net cash proceeds of such issuances. See Note 12 for further discussion. 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: 2015 2014 2013 Expected volatility (1) 26.6% 27.0% 26.9% Expected life (2) 5 years 5 years 5 years Expected dividend yield (3) 3.13% 3.78% 4.12% Risk-free interest rate (4) 1.29% 1.50% 0.84% Option valuation per share $13.68 $9.12 $7.90 (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, 2015 , the Company has recorded a deferred tax asset of approximately $40.8 million , which is fully offset by a valuation allowance due to the uncertainty of realization. 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, 2015 , 2014 and 2013 (amounts in thousands): Year Ended December 31, 2015 2014 2013 Income and other tax expense (benefit) (1) $ 917 $ 1,394 $ 1,169 Discontinued operations, net (2) 15 8 449 Provision for income, franchise and excise taxes (3) $ 932 $ 1,402 $ 1,618 (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 years ending December 31, 2015 and 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the years ended December 31, 2015 and 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 $19.4 million of net operating loss ("NOL") carryforwards available as of January 1, 2016 that will expire between 2030 and 2032 . During the years ended December 31, 2015 , 2014 and 2013 , the Company’s tax treatment of dividends and distributions were as follows: Year Ended December 31, 2015 2014 2013 Tax treatment of dividends and distributions: Ordinary dividends $ 1.591 $ 1.475 $ 0.662 Qualified dividends 0.037 0.088 0.050 Long-term capital gain 0.443 0.280 0.870 Unrecaptured section 1250 gain 0.139 0.157 0.268 Dividends and distributions declared per Common Share/Unit outstanding $ 2.210 $ 2.000 $ 1.850 The unaudited cost of land and depreciable property, net of accumulated depreciation, for federal income tax purposes as of December 31, 2015 and 2014 was approximately $17.0 billion and $16.7 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 generally based on ownership percentage and 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 ERPOP. 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (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 revenue. 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, 2018 and early adoption will be permitted beginning on January 1, 2017. The new standard may be applied retrospectively to each prior period presented or prospectively 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 and for interim periods thereafter. 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 Company adopted the new standard as required effective January 1, 2016. While adoption of the new standard did not result in any changes to conclusions about whether a joint venture was consolidated or unconsolidated, the Company has determined that certain of its joint ventures will now qualify as variable interest entities and therefore will require additional disclosures. In April 2015, the FASB issued a new standard which requires companies to present debt financing costs as a direct deduction from the carrying amount of the associated debt liability rather than as an asset, consistent with the presentation of debt discounts on the consolidated balance sheets. Companies will be permitted to present debt issuance costs related to line of credit arrangements as an asset and amortize these costs over the term of the arrangement, regardless of whether there are any outstanding borrowings on the arrangement. The new standard must be applied retrospectively to all prior periods presented in the consolidated financial statements. The Company adopted this standard as required effective January 1, 2016 and other than presentation on the consolidated balance sheets, it did not have a material effect on its consolidated results of operations or financial position. In January 2016, the FASB issued a new standard which requires companies to measure all equity securities with readily determinable fair values at fair value on the balance sheet, with changes in fair value recognized in net income. The new standard will be effective for the Company beginning on January 1, 2018. The Company does not expect that this will have a material effect on its consolidated results of operations or financial position.
Other Significant Accounting Policies [Table Text Block] [Policy Text Block]	Other The Company is the controlling partner in various consolidated partnerships owning 19 properties and 3,771 apartment units having a noncontrolling interest book value of $4.6 million at December 31, 2015 . 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 $11.5 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, 2015 , the Company estimates the value of Noncontrolling Interest distributions for these six properties would have been approximately $75.1 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, 2015 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.

Business (Tables)

Business (Tables)	12 Months Ended
	Dec. 31, 2015
Business [Abstract]
Property/Unit schedule	The ownership breakdown includes (table does not include various uncompleted development properties): Properties Apartment Units Wholly Owned Properties 367 98,608 Master-Leased Properties – Consolidated 3 853 Partially Owned Properties – Consolidated 19 3,771 Partially Owned Properties – Unconsolidated 3 1,281 Military Housing 2 5,139 394 109,652

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
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: 2015 2014 2013 Expected volatility (1) 26.6% 27.0% 26.9% Expected life (2) 5 years 5 years 5 years Expected dividend yield (3) 3.13% 3.78% 4.12% Risk-free interest rate (4) 1.29% 1.50% 0.84% Option valuation per share $13.68 $9.12 $7.90 (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, 2015 , 2014 and 2013 (amounts in thousands): Year Ended December 31, 2015 2014 2013 Income and other tax expense (benefit) (1) $ 917 $ 1,394 $ 1,169 Discontinued operations, net (2) 15 8 449 Provision for income, franchise and excise taxes (3) $ 932 $ 1,402 $ 1,618 (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 years ending December 31, 2015 and 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the years ended December 31, 2015 and 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, 2015 , 2014 and 2013 , the Company’s tax treatment of dividends and distributions were as follows: Year Ended December 31, 2015 2014 2013 Tax treatment of dividends and distributions: Ordinary dividends $ 1.591 $ 1.475 $ 0.662 Qualified dividends 0.037 0.088 0.050 Long-term capital gain 0.443 0.280 0.870 Unrecaptured section 1250 gain 0.139 0.157 0.268 Dividends and distributions declared per Common Share/Unit outstanding $ 2.210 $ 2.000 $ 1.850

Equity, Capital and Other Int35

Equity, Capital and Other Interests (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 , 2014 and 2013 : 2015 2014 2013 Common Shares Common Shares outstanding at January 1, 362,855,454 360,479,260 325,054,654 Common Shares Issued: Conversion of OP Units 208,307 94,671 67,939 Issuance of Common Shares — — 34,468,085 Exercise of share options 1,456,363 2,086,380 586,017 Employee Share Purchase Plan (ESPP) 68,462 68,807 73,468 Restricted share grants, net 168,142 169,722 229,097 Common Shares Other: Conversion of restricted shares to restricted units (1,284 ) (12,146 ) — Repurchased and retired — (31,240 ) — Common Shares outstanding at December 31, 364,755,444 362,855,454 360,479,260 Units Units outstanding at January 1, 14,298,691 14,180,376 13,968,758 Restricted unit grants, net 335,496 200,840 279,557 Conversion of restricted shares to restricted units 1,284 12,146 — Conversion of OP Units to Common Shares (208,307 ) (94,671 ) (67,939 ) Units outstanding at December 31, 14,427,164 14,298,691 14,180,376 Total Common Shares and Units outstanding at December 31, 379,182,608 377,154,145 374,659,636 Units Ownership Interest in Operating Partnership 3.8 % 3.8 % 3.8 %
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, 2015 , 2014 and 2013 , respectively (amounts in thousands): 2015 2014 2013 Balance at January 1, $ 500,733 $ 363,144 $ 398,372 Change in market value 64,378 139,818 (79,667 ) Change in carrying value 1,672 (2,229 ) 44,439 Balance at December 31, $ 566,783 $ 500,733 $ 363,144
Schedule Of Preferred Stock [Table Text Block]	The following table presents the Company’s issued and outstanding Preferred Shares as of December 31, 2015 and 2014 : Amounts in thousands Redemption Annual December 31, 2015 December 31, 2014 Preferred Shares of beneficial interest, $0.01 par value; 8.29% Series K Cumulative Redeemable Preferred; liquidation 12/10/26 $4.145 $ 37,280 $ 50,000 $ 37,280 $ 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. (3) Effective January 26, 2015, the Company 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 . As a result of this partial redemption, the Company incurred a cash charge of approximately $2.8 million which was recorded as a premium on the redemption of Preferred Shares. (4) Effective November 12, 2015, the Company repurchased and retired 58,000 Series K Preferred Shares with a par value of $2.9 million for total cash consideration of approximately $3.6 million . As a result of this partial redemption, the Company incurred a cash charge of approximately $0.7 million which was recorded as a premium on the redemption of Preferred Shares.
ERPOP [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, 2015 , 2014 and 2013 : 2015 2014 2013 General and Limited Partner Units General and Limited Partner Units outstanding at January 1, 377,154,145 374,659,636 339,023,412 Issued to General Partner: Issuance of OP Units — — 34,468,085 Exercise of EQR share options 1,456,363 2,086,380 586,017 EQR's Employee Share Purchase Plan (ESPP) 68,462 68,807 73,468 EQR's restricted share grants, net 168,142 169,722 229,097 Issued to Limited Partners: Restricted unit grants, net 335,496 200,840 279,557 OP Units Other: Repurchased and retired — (31,240 ) — General and Limited Partner Units outstanding at December 31, 379,182,608 377,154,145 374,659,636 Limited Partner Units Limited Partner Units outstanding at January 1, 14,298,691 14,180,376 13,968,758 Limited Partner restricted unit grants, net 335,496 200,840 279,557 Conversion of EQR restricted shares to restricted units 1,284 12,146 — Conversion of Limited Partner OP Units to EQR Common Shares (208,307 ) (94,671 ) (67,939 ) Limited Partner Units outstanding at December 31, 14,427,164 14,298,691 14,180,376 Limited Partner Units Ownership Interest in Operating Partnership 3.8 % 3.8 % 3.8 %
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, 2015 , 2014 and 2013 , respectively (amounts in thousands): 2015 2014 2013 Balance at January 1, $ 500,733 $ 363,144 $ 398,372 Change in market value 64,378 139,818 (79,667 ) Change in carrying value 1,672 (2,229 ) 44,439 Balance at December 31, $ 566,783 $ 500,733 $ 363,144
Schedule Of Preferred Stock [Table Text Block]	The following table presents the Operating Partnership's issued and outstanding “Preference Units” as of December 31, 2015 and 2014 : Amounts in thousands Redemption Annual December 31, 2015 December 31, 2014 Preference Units: 8.29% Series K Cumulative Redeemable Preference Units; 12/10/26 $4.145 $ 37,280 $ 50,000 $ 37,280 $ 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. (3) Effective January 26, 2015, the Operating Partnership repurchased and retired 196,400 Series K Preference Units with a par value of $9.82 million for total cash consideration of approximately $12.7 million , in conjunction with the concurrent redemption of the corresponding Company Preferred Shares. As a result of this partial redemption, the Operating Partnership incurred a cash charge of approximately $2.8 million which was recorded as a premium on the redemption of Preference Units. (4) Effective November 12, 2015, the Operating Partnership repurchased and retired 58,000 Series K Preference Units with a par value of $2.9 million for total cash consideration of approximately $3.6 million , in conjunction with the concurrent redemption of the corresponding Company Preferred Shares. As a result of this partial redemption, the Operating Partnership incurred a cash charge of approximately $0.7 million which was recorded as a premium on the redemption of Preference Units.

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 and 2014 (amounts in thousands): 2015 2014 Land $ 5,864,046 $ 6,295,404 Depreciable property: Buildings and improvements 16,336,829 17,974,337 Furniture, fixtures and equipment 1,207,098 1,365,276 In-Place lease intangibles 483,160 511,891 Projects under development: Land 284,995 466,764 Construction-in-progress 837,381 877,155 Land held for development: Land 120,007 145,366 Construction-in-progress 48,836 39,190 Investment in real estate 25,182,352 27,675,383 Accumulated depreciation (4,905,406 ) (5,432,805 ) Investment in real estate, net $ 20,276,946 $ 22,242,578
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, 2015 and 2014 (amounts in thousands): Description Balance Sheet Location 2015 2014 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 (13,451 ) (8,913 ) Lease intangible assets, net $ 166,060 $ 170,598 Liabilities Ground lease intangibles – above market Other Liabilities $ 2,400 $ 2,400 Retail lease intangibles – below market Other Liabilities 5,270 5,270 Lease intangible liabilities 7,670 7,670 Accumulated amortization (3,414 ) (2,258 ) Lease intangible liabilities, net $ 4,256 $ 5,412
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): 2016 2017 2018 2019 2020 Ground lease intangibles $ 4,321 $ 4,321 $ 4,321 $ 4,321 $ 4,321 Retail lease intangibles (896 ) (540 ) (71 ) (71 ) (71 ) Total $ 3,425 $ 3,781 $ 4,250 $ 4,250 $ 4,250
Acquired Properties Table	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 (1) 6 1,353 $ 469,850 Land Parcels — — 28,790 Total 6 1,353 $ 498,640 (1) Purchase price includes an allocation of approximately $95.3 million to land and $374.6 million to depreciable property. During the year ended December 31, 2015 , 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) 4 625 $ 296,037 Land Parcels (2) — — 27,800 Total 4 625 $ 323,837 (1) Purchase price includes an allocation of approximately $44.7 million to land and $251.3 million to depreciable property. (2) The Company acquired three contiguous land parcels in San Francisco during 2015 which will be combined for future development.
Disposed Properties Table	During the year ended December 31, 2015 , the Company disposed of the following to unaffiliated parties (sales price in thousands): Properties Apartment Units Sales Price Consolidated: Rental Properties (1) 8 1,857 $ 513,312 Total 8 1,857 $ 513,312 (1) Includes a 193,230 square foot medical office building adjacent to our Longfellow Place property in Boston with a sales price of approximately $123.3 million which is not included in the Company's property and apartment unit counts. 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.
Schedule Of Properties And Units [Table Text Block]	The ownership breakdown includes (table does not include various uncompleted development properties): Properties Apartment Units Wholly Owned Properties 367 98,608 Master-Leased Properties – Consolidated 3 853 Partially Owned Properties – Consolidated 19 3,771 Partially Owned Properties – Unconsolidated 3 1,281 Military Housing 2 5,139 394 109,652
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 Total revenues $ 2,485,438 Income from continuing operations 203,286 Discontinued operations, net 2,074,072 Net income 2,277,358 Net income available to Common Shares 2,183,756 Earnings per share - basic: Net income available to Common Shares $ 6.07 Weighted average Common Shares outstanding (1) 359,688 Earnings per share - diluted: Net income available to Common Shares $ 6.05 Weighted average Common Shares outstanding (1) 375,861 (1) 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.
ERPOP [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 Total revenues $ 2,485,438 Income from continuing operations 203,286 Discontinued operations, net 2,074,072 Net income 2,277,358 Net income available to Units 2,273,798 Earnings per Unit - basic: Net income available to Units $ 6.07 Weighted average Units outstanding (1) 373,421 Earnings per Unit - diluted: Net income available to Units $ 6.05 Weighted average Units outstanding (1) 375,861 (1) 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.
Starwood Portfolio [Member]
Schedule Of Real Estate Investments And Accumulated Depreciation [Table Text Block]	In accordance with this classification, the Company ceased depreciation on all assets in the Starwood portfolio as of November 1, 2015 and the following assets are classified as held for sale in the accompanying consolidated balance sheets at December 31, 2015 (amounts in thousands): 2015 Land $ 602,737 Depreciable property: Buildings and improvements 2,386,489 Furniture, fixtures and equipment 335,565 In-Place lease intangibles 35,554 Real estate held for sale before accumulated depreciation 3,360,345 Accumulated depreciation (1,179,210 ) Real estate held for sale $ 2,181,135
Schedule Of Properties And Units [Table Text Block]	The following table provides the operating segments/locations of the properties and apartment units sold in the Starwood Transaction, which represents substantially all of the assets in the Company's non-core South Florida and Denver markets and certain non-core assets in the Washington D.C., Seattle and other (Inland Empire, CA) markets. The sale of these properties represents the continuation of the Company's long-term strategy of investing in high barrier to entry/core urban markets. See Notes 11 and 18 for further discussion. Markets/Metro Areas Properties Apartment Units Non-core – South Florida 33 10,742 Non-core – Denver 18 6,635 Washington D.C. 10 3,020 Seattle 8 1,721 Non-core – other (Inland Empire, CA) 3 1,144 Total 72 23,262

Commitments To Acquire_Dispose

Commitments To Acquire/Dispose of Real Estate (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments to Acquire Dispose of Real Estate [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 3 549 $ 242,880 Total 3 549 $ 242,880
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 Land Parcels (two) — — $ 14,886 Total — — $ 14,886
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 3 549 $ 242,880 Total 3 549 $ 242,880 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 Land Parcels (two) — — $ 14,886 Total — — $ 14,886 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 Owne38

Investments in Partially Owned Entities (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 (amounts in thousands except for project and apartment unit amounts): Consolidated Unconsolidated Operating Operating Total projects 19 3 Total apartment units 3,771 1,281 Balance sheet information at 12/31/15 (at 100%): ASSETS Investment in real estate $ 689,574 $ 290,891 Accumulated depreciation (216,697 ) (30,662 ) Investment in real estate, net 472,877 260,229 Cash and cash equivalents 23,445 7,044 Investments in unconsolidated entities 49,408 — Deposits – restricted 346 289 Deferred financing costs, net 1,792 6 Other assets 26,567 448 Total assets $ 574,435 $ 268,016 LIABILITIES AND EQUITY/CAPITAL Mortgage notes payable (1) $ 343,429 $ 174,846 Accounts payable & accrued expenses 1,698 733 Accrued interest payable 1,223 691 Other liabilities 786 347 Security deposits 2,036 645 Total liabilities 349,172 177,262 Noncontrolling Interests – Partially Owned Properties/Partners' equity 4,608 90,878 Company equity/General and Limited Partners' Capital 220,655 (124 ) Total equity/capital 225,263 90,754 Total liabilities and equity/capital $ 574,435 $ 268,016
Partially Owned Property Income Statement Schedule [Table Text Block]	Consolidated Unconsolidated Operating Operating Operating information for the year ended 12/31/15 (at 100%): Operating revenue $ 94,349 $ 32,285 Operating expenses 26,081 12,061 Net operating income 68,268 20,224 Depreciation 22,216 12,350 General and administrative/other 330 255 Operating income 45,722 7,619 Interest and other income 12 (1 ) Other expenses (50 ) — Interest: Expense incurred, net (15,459 ) (9,390 ) Amortization of deferred financing costs (349 ) (2 ) Income (loss) before income and other taxes and (loss) 29,876 (1,774 ) Income and other tax (expense) benefit (35 ) (18 ) (Loss) from investments in unconsolidated entities (1,501 ) — Net income (loss) $ 28,340 $ (1,792 ) (1) All debt is non-recourse to the Company. 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 owned certain non-core Archstone assets and succeeded to certain residual Archstone liabilities/litigation, as well as responsibility for tax protection arrangements and third-party preferred interests in former Archstone subsidiaries. The preferred interests had an aggregate liquidation value of $42.2 million at December 31, 2015 . The ventures are owned 60% by the Company and 40% by AVB.

Deposits - Restricted (Tables)

Deposits - Restricted (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 and 2014 (amounts in thousands): December 31, December 31, Earnest money on pending acquisitions $ 1,000 $ 580 Restricted deposits on real estate investments 6,077 24,701 Resident security and utility deposits 48,458 46,516 Other 358 506 Totals $ 55,893 $ 72,303
Escrow Deposits [Table Text Block]	The following table presents the Company’s escrow deposits as of December 31, 2015 and 2014 (amounts in thousands): December 31, December 31, Real estate taxes and insurance $ 1,977 $ 2,235 Replacement reserves 3,962 3,431 Mortgage principal reserves/sinking funds 50,155 41,567 Other 852 852 Totals $ 56,946 $ 48,085

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [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, 2015 and 2014 , respectively: December 31, 2015 Net Principal Balance Interest Rate Ranges Weighted Average Interest Rate Maturity Date Ranges Fixed Rate Public Notes (1) $ 5,423,012 3.00% - 7.57% 5.30% 2016 - 2045 Floating Rate Public Notes (1) 453,340 (1) 0.93% 2019 Totals $ 5,876,352 December 31, 2014 Net Principal Balance Interest Rate Ranges Weighted Average Interest Rate Maturity Date Ranges 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 (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% .
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 as of December 31, 2015 (amounts in thousands): Year Total (1) 2016 $ 1,352,813 2017 1,347,846 2018 180,461 2019 1,281,127 2020 1,679,432 Thereafter 5,173,079 Net Unamortized (Discount) (46,260 ) Total $ 10,968,498 (1) Premiums and discounts are amortized over the life of the debt. See Note 18 for discussion of the debt amounts repaid subsequent to December 31, 2015 .

Derivative and Other Fair Val41

Derivative and Other Fair Value Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Derivative Instrument Table	The following table summarizes the Company’s consolidated derivative instruments at December 31, 2015 (dollar amounts are in thousands): Fair Value Forward Current Notional Balance $ 450,000 $ 50,000 Lowest Possible Notional $ 450,000 $ 50,000 Highest Possible Notional $ 450,000 $ 50,000 Lowest Interest Rate 2.375 % 2.500 % Highest Interest Rate 2.375 % 2.500 % Earliest Maturity Date 2019 2026 Latest Maturity Date 2019 2026 (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. This swap has a mandatory counterparty termination in 2017, and is targeted to a 2016 issuance.
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, 2015 and 2014 , respectively (amounts in thousands): Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 12/31/2015 Quoted Prices in Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Derivatives designated as hedging instruments: Interest Rate Contracts: Fair Value Hedges Other Assets $ 3,655 $ — $ 3,655 $ — Supplemental Executive Retirement Plan Other Assets 105,942 105,942 — — Total $ 109,597 $ 105,942 $ 3,655 $ — Liabilities Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Liabilities $ 673 $ — $ 673 $ — Supplemental Executive Retirement Plan Other Liabilities 105,942 105,942 — — Total $ 106,615 $ 105,942 $ 673 $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 566,783 $ — $ 566,783 $ — Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 12/31/2014 Quoted Prices in Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (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 $ —
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, 2015 , 2014 and 2013 , respectively (amounts in thousands): December 31, 2015 Type of Fair Value Hedge Location of Amount of Hedged Item Income Statement Amount of Derivatives designated as hedging instruments: Interest Rate Contracts: Interest Rate Swaps Interest expense $ 2,058 Fixed rate debt Interest expense $ (2,058 ) Total $ 2,058 $ (2,058 ) December 31, 2014 Type of Fair Value Hedge Location of Gain/(Loss) Recognized in Income on Derivative Amount of Gain/(Loss) Recognized in Income on Derivative Hedged Item Income Statement Location of Hedged Item Gain/(Loss) Amount of Gain/(Loss)Recognized in Income 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 Type of Fair Value Hedge Location of Gain/(Loss) Recognized in Income on Derivative Amount of Gain/(Loss) Recognized in Income on Derivative Hedged Item Income Statement Location of Hedged Item Gain/(Loss) Amount of Gain/(Loss)Recognized in Income 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
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, 2015 , 2014 and 2013 , respectively (amounts in thousands): Effective Portion Ineffective Portion December 31, 2015 Type of Cash Flow Hedge Amount of Location of Gain/(Loss) Amount of Gain/(Loss) Location of Amount of Gain/(Loss) Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ (814 ) Interest expense $ (18,244 ) Interest expense $ (3,033 ) Total $ (814 ) $ (18,244 ) $ (3,033 ) Effective Portion Ineffective Portion December 31, 2014 Type of Cash Flow Hedge Amount of Location of Gain/(Loss) Amount of Gain/(Loss) Location of Amount of Gain/(Loss) 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 Type of Cash Flow Hedge Amount of Location of Gain/(Loss) Amount of Gain/(Loss) Location of Amount of Gain/(Loss) 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 ) $ —

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 2014 2013 Numerator for net income per share – basic: Income (loss) from continuing operations $ 907,621 $ 657,101 $ (168,174 ) Allocation to Noncontrolling Interests – Operating Partnership, net (34,226 ) (24,771 ) 6,834 Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (3,657 ) (2,544 ) 538 Preferred distributions (3,357 ) (4,145 ) (4,145 ) Premium on redemption of Preferred Shares (3,486 ) — — Income (loss) from continuing operations available to Common Shares, net of Noncontrolling Interests 862,895 625,641 (164,947 ) Discontinued operations, net of Noncontrolling Interests 382 1,522 1,991,415 Numerator for net income per share – basic $ 863,277 $ 627,163 $ 1,826,468 Numerator for net income per share – diluted (1): Income from continuing operations $ 907,621 $ 657,101 Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (3,657 ) (2,544 ) Preferred distributions (3,357 ) (4,145 ) Premium on redemption of Preferred Shares (3,486 ) — Income from continuing operations available to Common Shares 897,121 650,412 Discontinued operations, net 397 1,582 Numerator for net income per share – diluted (1) $ 897,518 $ 651,994 $ 1,826,468 Denominator for net income per share – basic and diluted (1): Denominator for net income per share – basic 363,498 361,181 354,305 Effect of dilutive securities: OP Units 13,576 13,718 Long-term compensation shares/units 3,546 2,836 Denominator for net income per share – diluted (1) 380,620 377,735 354,305 Net income per share – basic $ 2.37 $ 1.74 $ 5.16 Net income per share – diluted $ 2.36 $ 1.73 $ 5.16 Net income per share – basic: Income (loss) from continuing operations available to Common Shares, net of Noncontrolling Interests $ 2.37 $ 1.73 $ (0.47 ) Discontinued operations, net of Noncontrolling Interests — 0.01 5.63 Net income per share – basic $ 2.37 $ 1.74 $ 5.16 Net income per share – diluted (1): Income (loss) from continuing operations available to Common Shares $ 2.36 $ 1.72 $ (0.47 ) Discontinued operations, net — 0.01 5.63 Net income per share – diluted $ 2.36 $ 1.73 $ 5.16 (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.
ERPOP [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, 2015 2014 2013 Numerator for net income per Unit – basic and diluted (1): Income (loss) from continuing operations $ 907,621 $ 657,101 $ (168,174 ) Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (3,657 ) (2,544 ) 538 Allocation to Preference Units (3,357 ) (4,145 ) (4,145 ) Allocation to premium on redemption of Preference Units (3,486 ) — — Income (loss) from continuing operations available to Units 897,121 650,412 (171,781 ) Discontinued operations, net 397 1,582 2,073,527 Numerator for net income per Unit – basic and diluted (1) $ 897,518 $ 651,994 $ 1,901,746 Denominator for net income per Unit – basic and diluted (1): Denominator for net income per Unit – basic 377,074 374,899 368,038 Effect of dilutive securities: Dilution for Units issuable upon assumed exercise/vesting of the Company's long-term compensation shares/units 3,546 2,836 Denominator for net income per Unit – diluted (1) 380,620 377,735 368,038 Net income per Unit – basic $ 2.37 $ 1.74 $ 5.16 Net income per Unit – diluted $ 2.36 $ 1.73 $ 5.16 Net income per Unit – basic: Income (loss) from continuing operations available to Units $ 2.37 $ 1.73 $ (0.47 ) Discontinued operations, net — 0.01 5.63 Net income per Unit – basic $ 2.37 $ 1.74 $ 5.16 Net income per Unit – diluted (1): Income (loss) from continuing operations available to Units $ 2.36 $ 1.72 $ (0.47 ) Discontinued operations, net — 0.01 5.63 Net income per Unit – diluted $ 2.36 $ 1.73 $ 5.16 (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, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations [Table Text Block]	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, 2015 , 2014 and 2013 (amounts in thousands). Year Ended December 31, 2015 2014 2013 REVENUES Rental income $ 499 $ 1,309 $ 121,942 Total revenues 499 1,309 121,942 EXPENSES (1) Property and maintenance (60 ) (141 ) 36,792 Real estate taxes and insurance 65 267 11,903 Property management — — 1 Depreciation — — 34,380 General and administrative 85 89 85 Total expenses 90 215 83,161 Discontinued operating income 409 1,094 38,781 Interest and other income 3 317 217 Other expenses — — (3 ) Interest (2): Expense incurred, net — — (1,296 ) Amortization of deferred financing costs — — (228 ) Income and other tax (expense) benefit (15 ) (8 ) (449 ) Discontinued operations 397 1,403 37,022 Net gain on sales of discontinued operations — 179 2,036,505 Discontinued operations, net $ 397 $ 1,582 $ 2,073,527 (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.
Starwood Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Condensed Income Statement [Table Text Block]	As a result, the following table summarizes the results of operations attributable to the Starwood Transaction for the years ended December 31, 2015 , 2014 and 2013 (amounts in thousands): Year Ended December 31, 2015 2014 2013 REVENUES Rental income $ 427,433 $ 401,134 $ 373,899 Total revenues 427,433 401,134 373,899 EXPENSES (1) Property and maintenance 78,189 76,579 75,848 Real estate taxes and insurance 48,403 46,416 44,035 Property management 11 11 11 Depreciation 87,616 104,104 105,015 General and administrative 38 24 22 Total expenses 214,257 227,134 224,931 Operating income 213,176 174,000 148,968 Interest and other income 1 1 2 Other expenses (35 ) (1 ) — Interest (2): Expense incurred, net (680 ) (701 ) (754 ) Amortization of deferred financing costs (559 ) (98 ) (98 ) Income and other tax (expense) benefit (1 ) (3 ) (2 ) Income from operations 211,902 173,198 148,116 Income from operations attributable to Noncontrolling Interests – Partially Owned — (14 ) (52 ) Income from operations attributable to controlling interests – Operating Partnership 211,902 173,184 148,064 Income from operations attributable to Noncontrolling Interests – Operating Partnership (8,083 ) (6,598 ) (5,692 ) Income from operations attributable to controlling interests – Company $ 203,819 $ 166,586 $ 142,372 (1) Includes expenses paid in the current period for properties held for sale. (2) Includes only interest expense specific to secured mortgage notes payable for properties held for sale which was repaid or will be repaid at or before closing.

Share Incentive Plans (Tables)

Share Incentive Plans (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 , 2014 and 2013 (amounts in thousands): Year Ended December 31, 2015 Compensation Expense Compensation Capitalized Restricted Units Compensation Equity Dividends Incurred Restricted shares (2) $ 13,755 $ 1,311 $ — $ 15,066 $ 1,160 Restricted units (2) 17,311 538 3,654 21,503 1,619 Share options 2,746 1,010 — 3,756 — ESPP discount 795 89 — 884 — Total $ 34,607 $ 2,948 $ 3,654 $ 41,209 $ 2,779 . Year Ended December 31, 2014 Compensation Expense Compensation Capitalized Compensation Equity Dividends 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 Expense Compensation Capitalized Compensation Equity Dividends 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 (1) Beginning in 2015, the Company allows officers the ability to receive immediately vested restricted units (subject to the book-up provisions and two-year hold restriction) in-lieu of any percentage of their annual cash bonus. (2) Includes performance awards granted under the executive compensation program.
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, 2015 , 2014 and 2013 : Common Shares Subject to Options Weighted Average Exercise Price per Option Restricted Shares Weighted Average Fair Value per Restricted Share Restricted Weighted 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 — Balance at December 31, 2014 7,030,620 $46.16 482,466 $56.89 623,948 $53.38 Awards granted (1) (5) 171,150 $80.15 174,112 $79.65 337,505 $81.87 Awards exercised/vested (2) (3) (4) (1,456,363 ) $42.64 (127,174 ) $60.21 (72,003 ) $57.12 Awards forfeited (9,550 ) $64.53 (5,970 ) $62.11 (2,009 ) $64.39 Awards expired (1,492 ) $39.86 — — — — Conversion of restricted shares — — (1,284 ) — 1,284 — Balance at December 31, 2015 5,734,365 $48.04 522,150 $63.67 888,725 $63.91 (1) The weighted average grant date fair value for Options granted during the years ended December 31, 2015 , 2014 and 2013 was $13.67 per share, $9.21 per share and $7.97 per share, respectively. (2) The aggregate intrinsic value of options exercised during the years ended December 31, 2015 , 2014 and 2013 was $52.9 million , $50.8 million and $16.7 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, 2015 , 2014 and 2013 was $10.2 million , $10.2 million and $13.9 million , respectively. (4) The fair value of restricted units vested during the years ended December 31, 2015 , 2014 and 2013 was $5.8 million , $3.4 million and $5.1 million , respectively. (5) Includes performance awards granted under the executive compensation program.
Information regarding options outstanding and exercisable	The following table summarizes information regarding options outstanding and exercisable at December 31, 2015 : Options Outstanding (1) Options Exercisable (2) Range of Exercise Prices Options Weighted Average Remaining Contractual Life in Years Weighted Average Exercise Price Options Weighted Average Exercise Price $18.70 to $24.93 865,289 3.10 $23.07 865,289 $23.07 $24.94 to $37.39 634,733 4.10 $32.97 634,733 $32.97 $37.40 to $43.62 446,345 1.17 $40.53 446,345 $40.53 $43.63 to $49.86 2,056 4.83 $48.63 2,056 $48.63 $49.87 to $56.09 1,969,539 5.58 $53.96 1,278,111 $54.06 $56.10 to $62.32 1,648,650 6.92 $58.65 1,209,674 $59.44 $68.56 to $74.78 2,353 9.49 $71.35 — — $74.79 to $81.01 165,400 9.11 $80.27 782 $80.27 $18.70 to $81.01 5,734,365 5.19 $48.04 4,436,990 $45.11 Vested and expected to vest 5,696,241 5.07 $47.96 (1) The aggregate intrinsic value of options outstanding that are vested and expected to vest as of December 31, 2015 is $191.6 million . (2) The aggregate intrinsic value and weighted average remaining contractual life in years of options exercisable as of December 31, 2015 is $161.9 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 $81.59 per share on December 31, 2015 and the strike price of the underlying awards.

Employee Plans (Tables)

Employee Plans (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 2014 2013 (Amounts in thousands except share and per share amounts) Shares issued 68,462 68,807 73,468 Issuance price ranges $63.70 – $65.90 $45.90 – $55.95 $44.26 – $48.17 Issuance proceeds $4,404 $3,392 $3,401

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies [Abstract]
Schedule of Contractual 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, 2015 : (Payments)/Receipts Due by Year (in thousands) 2016 2017 2018 2019 2020 Thereafter Total Operating Leases: Minimum Rent Payments (a) $ (15,723 ) $ (15,721 ) $ (15,712 ) $ (15,567 ) $ (15,158 ) $ (839,521 ) $ (917,402 ) Minimum Rent Receipts (b) 70,360 56,759 50,134 45,956 42,050 210,149 475,408 Other Long-Term Liabilities: Deferred Compensation (c) (1,387 ) (1,724 ) (1,724 ) (1,130 ) (1,080 ) (4,797 ) (11,842 ) (a) Minimum basic rent due for various office space the Company leases and fixed base rent due on ground leases for 12 properties. (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, 2015
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
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, 2015 , 2014 and 2013 , respectively (amounts in thousands): Year Ended December 31, 2015 2014 2013 Rental income $ 2,736,578 $ 2,605,311 $ 2,378,004 Property and maintenance expense (479,160 ) (473,098 ) (449,427 ) Real estate taxes and insurance expense (339,802 ) (325,401 ) (293,999 ) Property management expense (81,185 ) (79,636 ) (84,342 ) Total operating expenses (900,147 ) (878,135 ) (827,768 ) Net operating income $ 1,836,431 $ 1,727,176 $ 1,550,236
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, 2015 , 2014 and 2013 , respectively, as well as total assets and capital expenditures at December 31, 2015 and 2014 , respectively (amounts in thousands): Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Rental Income Operating Expenses NOI Rental Income Operating Expenses NOI Rental Income Operating Expenses NOI Same store (1) Boston $ 252,620 $ 81,176 $ 171,444 $ 244,612 $ 77,408 $ 167,204 $ 244,370 $ 78,249 $ 166,121 New York 474,850 176,654 298,196 455,598 170,549 285,049 438,366 165,329 273,037 San Francisco 376,073 108,003 268,070 340,252 106,425 233,827 312,345 108,218 204,127 Seattle 164,319 50,079 114,240 153,197 50,377 102,820 146,109 49,169 96,940 Southern California 433,431 136,559 296,872 410,094 135,091 275,003 401,516 137,667 263,849 Washington D.C. 455,341 149,190 306,151 451,973 145,523 306,450 448,520 140,708 307,812 Non-core – South Florida 202,714 72,792 129,922 191,729 70,295 121,434 182,620 69,475 113,145 Non-core – Denver 120,938 31,708 89,230 111,190 30,811 80,379 103,124 30,567 72,557 Non-core – other 86,419 31,719 54,700 82,745 30,858 51,887 97,380 36,483 60,897 Total same store 2,566,705 837,880 1,728,825 2,441,390 817,337 1,624,053 2,374,350 815,865 1,558,485 Non-same store/other (2) (3) Boston 9,028 2,570 6,458 3,637 841 2,796 2,728 651 2,077 New York 9,835 7,460 2,375 42 92 (50 ) — — — San Francisco 6,408 2,974 3,434 15 147 (132 ) — — — Seattle 22,199 6,478 15,721 6,951 2,172 4,779 4,387 1,336 3,051 Southern California 71,719 26,264 45,455 49,663 19,518 30,145 15,016 6,846 8,170 Washington D.C. 21,822 6,313 15,509 17,927 6,115 11,812 13,562 4,086 9,476 Non-core – South Florida 7,912 2,830 5,082 5,480 2,619 2,861 390 810 (420 ) Other (3) 20,950 7,378 13,572 80,206 29,294 50,912 59,994 34,903 25,091 Total non-same store/other 169,873 62,267 107,606 163,921 60,798 103,123 96,077 48,632 47,445 Archstone pre-ownership (4) — — — — — — (92,423 ) (36,729 ) (55,694 ) Total $ 2,736,578 $ 900,147 $ 1,836,431 $ 2,605,311 $ 878,135 $ 1,727,176 $ 2,378,004 $ 827,768 $ 1,550,236 (1) For the years ended December 31, 2015 and 2014 , same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2014 , less properties subsequently sold, which represented 96,286 apartment units. For the year ended December 31, 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 and also includes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. (2) For the years ended December 31, 2015 and 2014, non-same store primarily includes properties acquired after January 1, 2014 , plus any properties in lease-up and not stabilized as of January 1, 2014 . For the year ended December 31, 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. (3) Other includes development, other corporate operations and operations prior to sale for properties sold in 2014 and 2015 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, 2015 Year Ended December 31, 2014 Total Assets Capital Expenditures Total Assets Capital Expenditures Same store (1) Boston $ 1,840,812 $ 18,759 $ 1,897,740 $ 19,254 New York 4,585,328 19,273 4,647,269 22,118 San Francisco 2,653,629 25,813 2,718,174 26,994 Seattle 1,058,090 13,565 1,087,575 14,333 Southern California 2,725,230 29,729 2,809,390 26,713 Washington D.C. 4,169,317 35,522 4,282,317 44,607 Non-core – South Florida 1,109,699 16,297 1,135,553 14,335 Non-core – Denver 506,317 8,341 520,537 5,863 Non-core – other 322,281 6,115 333,398 4,743 Total same store 18,970,703 173,414 19,431,953 178,960 Non-same store/other (2) (3) Boston 171,832 629 48,323 699 New York 364,475 (8 ) 356,064 12 San Francisco 262,851 6 218,415 — Seattle 453,111 457 335,086 918 Southern California 911,728 6,360 851,812 1,968 Washington D.C. 235,841 677 243,174 467 Non-core – South Florida 64,854 42 67,834 8 Other (3) 1,721,933 536 1,397,953 2,925 Total non-same store/other 4,186,625 8,699 3,518,661 6,997 Total $ 23,157,328 $ 182,113 $ 22,950,614 $ 185,957 (1) Same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2014 , less properties subsequently sold, which represented 96,286 apartment units. (2) Non-same store primarily includes properties acquired after January 1, 2014 , plus any properties in lease-up and not stabilized as of January 1, 2014 . (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 – other segments are as follows: (a) Southern California – Los Angeles, Orange County and San Diego. (b) Non-core – other – Inland Empire, CA, New England (excluding Boston) and Phoenix.

Quarterly Financial Data (Una48

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Quarterly Financial Information [Table Text Block]	First Quarter Second Quarter Third Quarter Fourth Quarter 2015 3/31 6/30 9/30 12/31 Total revenues $ 666,371 $ 679,112 $ 696,289 $ 703,193 Operating income 218,171 246,184 257,501 286,964 Income from continuing operations 190,069 298,504 205,375 213,673 Discontinued operations, net 155 114 81 47 Net income * 190,224 298,618 205,456 213,720 Net income available to Common Shares 178,842 285,587 195,859 202,989 Earnings per share – basic: Net income available to Common Shares $ 0.49 $ 0.79 $ 0.54 $ 0.56 Weighted average Common Shares outstanding 363,098 363,476 363,579 363,828 Earnings per share – diluted: Net income available to Common Shares $ 0.49 $ 0.78 $ 0.53 $ 0.55 Weighted average Common Shares outstanding 380,327 380,491 380,663 381,220 First Quarter Second Quarter Third Quarter Fourth Quarter 2014 3/31 6/30 9/30 12/31 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 $ 0.60 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 * The Company did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2015 and 2014 . 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.
ERPOP [Member]
Schedule of Quarterly Financial Information [Table Text Block]	First Quarter Second Quarter Third Quarter Fourth Quarter 2015 3/31 6/30 9/30 12/31 Total revenues $ 666,371 $ 679,112 $ 696,289 $ 703,193 Operating income 218,171 246,184 257,501 286,964 Income from continuing operations 190,069 298,504 205,375 213,673 Discontinued operations, net 155 114 81 47 Net income * 190,224 298,618 205,456 213,720 Net income available to Units 185,901 296,941 203,637 211,039 Earnings per Unit – basic: Net income available to Units $ 0.49 $ 0.79 $ 0.54 $ 0.56 Weighted average Units outstanding 376,696 377,063 377,147 377,380 Earnings per Unit – diluted: Net income available to Units $ 0.49 $ 0.78 $ 0.53 $ 0.55 Weighted average Units outstanding 380,327 380,491 380,663 381,220 First Quarter Second Quarter Third Quarter Fourth Quarter 2014 3/31 6/30 9/30 12/31 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 $ 0.60 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 * The Operating Partnership did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2015 and 2014 . 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, 2015
Property/Unit schedule
Wholly Owned Properties	367
Master Leased Properties Acquired	3
Partially Owned Consolidated Properties	19
Partially Owned Unconsolidated Properties	3
Military Housing Properties	2
Wholly Owned Units	98,608
Master Leased Units	853
Partially Owned Consolidated Units	3,771
Partially Owned Unconsolidated Units	1,281
Military Housing Units	5,139
Business (Textuals) [Abstract]
Noncontrolling Interest, Ownership Percentage by Parent	96.20%
Number of Real Estate Properties	394
Number of States in which Entity Operates	12
Number of Units in Real Estate Property	109,652
Number of operating properties under long-term ground leases	14

Summary of Significant Accoun50

Summary of Significant Accounting Policies Compensation (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	26.60%	27.00%	26.90%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years	5 years	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	3.13%	3.78%	4.12%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.29%	1.50%	0.84%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 13.68	$ 9.12	$ 7.90
Historical Volatility Period Basis	10 years

Summary of Significant Accoun51

Summary of Significant Accounting Policies Tax (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred Tax Assets Gross	$ 40,800
Income and other tax (expense) benefit	917	$ 1,394	$ 1,169
Discontinued Operation, Tax Effect of Discontinued Operation	15	$ 8	$ 449
Operating Loss Carryforwards	$ 19,400
Tax Treatment Of Dividends And Distributions Ordinary Dividends	$ 1.591	$ 1.475	$ 0.662
Tax Treatment Of Dividends And Distributions Qualified Dividends	0.037	0.088	0.050
Tax Treatment Of Dividends And Distributions Long Term Capital Gain	0.443	0.280	0.870
Tax Treatment Of Dividends And Distributions Unrecaptured Section Twelve Hundred And Fifty Gain	0.139	0.157	0.268
Distributions declared per Common Share outstanding	$ 2.210	$ 2	$ 1.850
Land And Depreciable Property Net	$ 17,000,000	$ 16,700,000
Income, Franchise, and Exise Taxes [Member]
Income and other tax (expense) benefit	917	1,394	$ 1,169
Discontinued Operation, Tax Effect of Discontinued Operation	15	8	449
Provision for income, franchise and excise taxes	$ 932	$ 1,402	$ 1,618
Minimum [Member]
Operating Loss Carryforwards, Expiration Dates	Jan. 1, 2030
Maximum [Member]
Operating Loss Carryforwards, Expiration Dates	Dec. 31, 2032

Summary of Significant Accoun52

Summary of Significant Accounting Policies Text (Details)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Number of Real Estate Properties	394
Value of furniture and fixtures minimum range	$ 10,000
Value of furniture and fixtures maximum range	$ 25,000
Lease Intangibles, Average Term	6
Capitalized Costs Development and Renovation	$ 22,300,000	$ 22,400,000	$ 16,500,000
Accumulated Amortization, Deferred Finance Costs	$ 45,400,000	37,700,000
Partially Owned Consolidated Properties	19
Partially Owned Consolidated Units	3,771
Partially Owned Properties	$ 4,608,000	$ 124,909,000
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
Limited Life Partnership Properties [Member]
Partially Owned Properties	$ 11,500,000
Partially Owned Limited Life Partnership Properties	6
Noncontrolling Interests Settlement Value	$ 75,100,000
Unconsolidated Properties [Member]
Number of Real Estate Properties	3
Partially Owned Properties	$ 90,878,000
Minimum [Member]
Retail/Commercial Leases Term	5
Maximum [Member]
Retail/Commercial Leases Term	10

Equity and Redeemable Noncontro

Equity and Redeemable Noncontrolling Interests of Equity Residential - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Common Stock, Shares, Outstanding January 1,	364,755,444	362,855,454	360,479,260	325,054,654
Common Shares Issued:
Conversion of OP Units	208,307	94,671	67,939
Stock Issued During Period, Shares, New Issues	0	0	34,468,085
Exercise of share options	1,456,363	2,086,380	586,017
Employee Share Purchase Plan (ESPP)	68,462	68,807	73,468
Restricted share grants, net	168,142	169,722	229,097
Common Shares Other:
Conversion of restricted shares to restricted units	(1,284)	(12,146)	0
Stock Repurchased and Retired During Period, Shares	0	(31,240)	0
Units
Units Ownership Interest in Operating Partnership	3.80%	3.80%	3.80%
Redeemable Noncontrolling Interests – Operating Partnership	$ 566,783	$ 500,733	$ 363,144	$ 398,372
Change in market value of Redeemable Noncontrolling Interests – Operating Partnership	$ 64,378	$ 139,818	$ (79,667)
Common Shares And Units Outstanding	379,182,608	377,154,145	374,659,636
Change in carrying value	$ 1,672	$ (2,229)	$ 44,439
ERPOP [Member]
Common Shares Other:
Conversion of restricted shares to restricted units	1,284	12,146	0
Stock Repurchased and Retired During Period, Shares		(31,240)
Units
Total Units Outstanding	14,427,164	14,298,691	14,180,376	13,968,758
Restricted unit grants, net	335,496	200,840	279,557
Shares Issued During Period Shares Conversion Of Units To Common Shares	(208,307)	(94,671)	(67,939)

Capital and Redeemable Limited

Capital and Redeemable Limited Partners of ERP Operating Limited Partnership - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Common Shares And Units Outstanding	379,182,608	377,154,145	374,659,636
Exercise of EQR share options	1,456,363	2,086,380	586,017
EQR's Employee Share Purchase Plan (ESPP)	68,462	68,807	73,468
EQR's restricted share grants, net	168,142	169,722	229,097
Stock Repurchased and Retired During Period, Shares	0	(31,240)	0
Conversion of restricted shares to restricted units	(1,284)	(12,146)	0
Units Ownership Interest in Operating Partnership	3.80%	3.80%	3.80%
ERPOP [Member]
Restricted unit grants, net	335,496	200,840	279,557
Stock Repurchased and Retired During Period, Shares		(31,240)
Conversion of restricted shares to restricted units	1,284	12,146	0
Shares Issued During Period Shares Conversion Of Units To Common Shares	(208,307)	(94,671)	(67,939)
Total Units Outstanding	14,427,164	14,298,691	14,180,376	13,968,758
Redeemable Limited Partners	$ 566,783	$ 500,733	$ 363,144	$ 398,372
Limited Partners Change In Redemption Value	64,378	139,818	(79,667)
Limited Partners Change In Carrying Value	$ 1,672	$ (2,229)	$ 44,439
ERPOP [Member] | General And Limited Partner [Member]
Common Shares And Units Outstanding	379,182,608	377,154,145	374,659,636	339,023,412
Issuance of OP Units	0	0	34,468,085
Exercise of EQR share options	1,456,363	2,086,380	586,017
EQR's Employee Share Purchase Plan (ESPP)	68,462	68,807	73,468
EQR's restricted share grants, net	168,142	169,722	229,097
Restricted unit grants, net	335,496	200,840	279,557
Stock Repurchased and Retired During Period, Shares	0	(31,240)	0
ERPOP [Member] | ERPOP [Member]
Restricted unit grants, net	335,496	200,840	279,557
Conversion of restricted shares to restricted units	1,284	12,146	0
Shares Issued During Period Shares Conversion Of Units To Common Shares	(208,307)	(94,671)	(67,939)
Total Units Outstanding	14,427,164	14,298,691	14,180,376	13,968,758
Units Ownership Interest in Operating Partnership	3.80%	3.80%	3.80%

Issued and Outstanding Preferre

Issued and Outstanding Preferred Shares and Preference Units - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
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
8.29% Series K Cumulative Redeemable Preferred; liquidation value $50 per share; 745,600 shares issued and outstanding at December 31, 2015 and 1,000,000 shares issued and outstanding at December 31, 2014 (3) (4)	$ 37,280	$ 50,000
Premium on redemption of Preferred Shares	$ (3,486)	$ 0	$ 0
Series K Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock Preference Units Issued	745,600	1,000,000
Preferred Stock Preference Units Outstanding	745,600	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%	8.29%
Preferred Stocks Preference Units Redemption Date	Dec. 10, 2026
Annual Dividend Per Preferred Share Preference Unit	$ 4.145
8.29% Series K Cumulative Redeemable Preferred; liquidation value $50 per share; 745,600 shares issued and outstanding at December 31, 2015 and 1,000,000 shares issued and outstanding at December 31, 2014 (3) (4)	$ 37,280	$ 50,000
Treasury Stock, Shares, Retired	58,000
Redemption of Preferred Shares	$ 2,900
Treasury Stock Retired, Cash Consideration	3,600
Premium on redemption of Preferred Shares	$ 700
Scenario, Previously Reported [Member] | Series K Preferred Stock [Member]
Class of Stock [Line Items]
Treasury Stock, Shares, Retired	196,400
Redemption of Preferred Shares	$ 9,820
Treasury Stock Retired, Cash Consideration	12,700
Premium on redemption of Preferred Shares	2,800
ERPOP [Member]
Class of Stock [Line Items]
8.29% Series K Cumulative Redeemable Preference Units; liquidation value $50 per unit; 745,600 units issued and outstanding at December 31, 2015 and 1,000,000 units issued and outstanding at December 31, 2014 (3) (4)	37,280	50,000
Premium on redemption of Preferred Shares	$ 3,486	$ 0	$ 0
ERPOP [Member] | Series K Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock Preference Units Issued	745,600	1,000,000
Preferred Stock Preference Units Outstanding	745,600	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	Dec. 10, 2026
Annual Dividend Per Preferred Share Preference Unit	$ 4.145
8.29% Series K Cumulative Redeemable Preference Units; liquidation value $50 per unit; 745,600 units issued and outstanding at December 31, 2015 and 1,000,000 units issued and outstanding at December 31, 2014 (3) (4)	$ 37,280	$ 50,000
Treasury Stock, Shares, Retired	58,000
Redemption of Preferred Shares	$ 2,900
Treasury Stock Retired, Cash Consideration	3,600
Premium on redemption of Preferred Shares	$ 700
ERPOP [Member] | Scenario, Previously Reported [Member] | Series K Preferred Stock [Member]
Class of Stock [Line Items]
Treasury Stock, Shares, Retired	196,400
Redemption of Preferred Shares	$ 9,820
Treasury Stock Retired, Cash Consideration	12,700
Premium on redemption of Preferred Shares	$ 2,800

Other

Other $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares
Stock Issued During Period, Shares, New Issues | shares	0	0	34,468,085
Acquisition of Archstone Common Shares Issued	$ 0	$ 0	$ 1,929,868
Additional Common Shares Authorized | shares	13,000,000
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares	13,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | shares	12,968,760
Stock Repurchased and Retired During Period, Shares | shares	0	31,240	0
Treasury Stock Acquired, Average Cost Per Share | $ / shares		$ 56.87
OP units repurchased and retired	$ 0	$ 1,777	$ 0
Partially Owned Properties Acquired Properties		1
Partially Owned Units Acquired Units		268
Change in Paid In Capital		$ 2,300
Reduction In Partially Owned Properties		2,200
Reduction In Other Liabilities		1,000
Other Liabilities	366,387	389,915
Partner Buyout [Member]
Purchase Price, Business Acquisition, Cost of Acquired Entity		$ 5,500
Archstone Transaction [Member]
Stock Issued During Period, Shares, New Issues | shares			34,468,085
Acquisition of Archstone Common Shares Issued			$ 1,900,000
Average Price Per Common Share Issued | $ / shares			$ 55.99
Series P [Domain]
Preferred Stock Preference Units Dividend Rate Percentage		3.00%
Business Acquisition, Percentage of Voting Interests Acquired		95.00%
ERPOP [Member]
Acquisition of Archstone Common Shares Issued	0	$ 0	$ 1,929,868
Stock Repurchased and Retired During Period, Shares | shares		31,240
OP units repurchased and retired	0	$ 1,777	$ 0
Other Liabilities	$ 366,387	389,915
ERPOP [Member] | Archstone Transaction [Member]
Units Issued During Period New Issues | shares			34,468,085
Series P [Domain]
Other Liabilities		$ 18,400
NONCONTROLLING INTERESTS – PARTIALLY OWNED PROPERTIES
Land parcels acquired		1

Real Estate Investment in Real

Real Estate Investment in Real Estate - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Feb. 27, 2013
Land	$ 5,864,046	$ 6,295,404
Depreciable property [Abstract]
Buildings and improvements	16,336,829	17,974,337
Furniture, fixtures and equipment	1,207,098	1,365,276
Finite-Lived Intangible Asset, Acquired-in-Place Leases	483,160	511,891
Projects under development [Abstract]
Construction-in-progress	1,122,376	1,343,919
Land held for development [Abstract]
Land held for development	168,843	184,556
Construction-in-progress	1,122,376	1,343,919
Investment in real estate	25,182,352	27,675,383
Accumulated depreciation	(4,905,406)	(5,432,805)
Investment in real estate, net	20,276,946	22,242,578
Amortization of above/below market leases	3,382	3,222	$ 898
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	3,425
Finite-Lived Intangible Assets, Amortization Expense, Year Two	3,781
Finite-Lived Intangible Assets, Amortization Expense, Year Three	4,250
Finite-Lived Intangible Assets, Amortization Expense, Year Four	4,250
Finite-Lived Intangible Assets, Amortization Expense, Year Five	4,250
Assets [Member]
Land held for development [Abstract]
Below Market Lease, Gross	178,251	178,251		$ 178,251
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross	1,260	1,260
Lease intangible assets	179,511	179,511
Finite-Lived Intangible Assets, Accumulated Amortization	(13,451)	(8,913)
Finite-Lived Intangible Assets, Net	166,060	170,598
Liability [Member]
Land held for development [Abstract]
Below Market Lease, Gross	5,270	5,270		$ 8,040
Off-market Lease, Unfavorable	2,400	2,400
Lease Intangible Liabilities	7,670	7,670
Finite Lived Intangible Liabilities Accumulated Amortization	(3,414)	(2,258)
Lease Intangible Liabilities, net	4,256	5,412
Ground Lease [Member]
Land held for development [Abstract]
Amortization of above/below market leases	4,300	4,300	3,600
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	4,321
Finite-Lived Intangible Assets, Amortization Expense, Year Two	4,321
Finite-Lived Intangible Assets, Amortization Expense, Year Three	4,321
Finite-Lived Intangible Assets, Amortization Expense, Year Four	4,321
Finite-Lived Intangible Assets, Amortization Expense, Year Five	4,321
Retail Site [Member]
Land held for development [Abstract]
Amortization of above/below market leases	900	1,100	$ 2,700
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	(896)
Finite-Lived Intangible Assets, Amortization Expense, Year Two	(540)
Finite-Lived Intangible Assets, Amortization Expense, Year Three	(71)
Finite-Lived Intangible Assets, Amortization Expense, Year Four	(71)
Finite-Lived Intangible Assets, Amortization Expense, Year Five	(71)
Projects under development [Member]
Projects under development [Abstract]
Land Under Development	284,995	466,764
Construction-in-progress	837,381	877,155
Land held for development [Abstract]
Construction-in-progress	837,381	877,155
Land held for development [Member]
Projects under development [Abstract]
Construction-in-progress	48,836	39,190
Land held for development [Abstract]
Land held for development	120,007	145,366
Construction-in-progress	$ 48,836	$ 39,190

Real Estate Acquisitions and Di

Real Estate Acquisitions and Dispositions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2013USD ($)
Properties acquired | property	4	6
Property Units Acquired	625	1,353
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 323,837	$ 498,640
Investment in real estate	25,182,352	27,675,383
Other Liabilities	$ 366,387	$ 389,915
Disposed Properties | property	8	11
Disposed Units	1,857	3,480
Proceeds From Sale Of Property	$ 513,312	$ 592,070
Net gain on sales of real estate properties	335,134	212,685	$ 0
Net (loss) gain on sales of land parcels	$ (1)	5,277	$ 12,227
Series P [Domain]
Investment in real estate		87,500
Business combination, consideration transferred		64,200
Payments to Acquire Interest in Subsidiaries and Affiliates		44,800
Other Liabilities		18,400
Revaluation Loss		$ 3,500
Consolidated Rental Properties [Member]
Properties acquired | property	4	6
Property Units Acquired	625	1,353
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 296,037	$ 469,850
Disposed Properties | property	8	10
Disposed Units	1,857	3,092
Proceeds From Sale Of Property	$ 513,312	$ 466,968
Consolidated Rental Properties [Member] | Land [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	44,700	95,300
Consolidated Rental Properties [Member] | Depreciable Property [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 251,300	374,600
Land [Member]
Land parcels acquired	3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 27,800	$ 28,790
Disposed Land Parcels	0	3
Proceeds From Sale Of Property		$ 62,602
Commercial Real Estate [Member]
Commercial Properties Disposed	1	0
Proceeds From Sale Of Property	$ 123,300
Unconsolidated Properties [Member]
Disposed Properties | property		1
Disposed Units		388
Proceeds From Sale Of Property		$ 62,500
Equity Method Investment, Ownership Percentage		85.00%
Unconsolidated Properties [Member]
Equity Method Investment, Realized Gain (Loss) on Disposal		$ 4,900
Series P [Domain]
Business Acquisition, Percentage of Voting Interests Acquired		95.00%

Real Estate Starwood Dispositio

Real Estate Starwood Disposition $ in Thousands	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)
Earnest Money Deposits	$ 1,000	$ 580
Land	5,864,046	6,295,404
Depreciable property Abstract
Buildings and improvements	16,336,829	17,974,337
Furniture, fixtures and equipment	1,207,098	1,365,276
Real estate held for sale before accumulated depreciation	25,182,352	27,675,383
Accumulated depreciation	(4,905,406)	(5,432,805)
Real estate held for sale	$ 2,181,135	$ 0
Starwood Portfolio [Member]
Properties Contracted To Be Disposed | property	72
Units Contracted To Be Disposed	23,262
Sales Price For Commitments To Dispose	$ 5,365,000
Earnest Money Deposits	250,000
Land	602,737
Depreciable property Abstract
Buildings and improvements	2,386,489
Furniture, fixtures and equipment	335,565
In-Place lease intangibles	35,554
Real estate held for sale before accumulated depreciation	3,360,345
Accumulated depreciation	(1,179,210)
Real estate held for sale	$ 2,181,135
Starwood Portfolio [Member] | Non-core – South Florida
Properties Contracted To Be Disposed | property	33
Units Contracted To Be Disposed	10,742
Starwood Portfolio [Member] | Non-core – Denver
Properties Contracted To Be Disposed | property	18
Units Contracted To Be Disposed	6,635
Starwood Portfolio [Member] | Washington D.C. [Member]
Properties Contracted To Be Disposed | property	10
Units Contracted To Be Disposed	3,020
Starwood Portfolio [Member] | Seattle
Properties Contracted To Be Disposed | property	8
Units Contracted To Be Disposed	1,721
Starwood Portfolio [Member] | Non-core - other (Inland Empire, CA) [Member]
Properties Contracted To Be Disposed | property	3
Units Contracted To Be Disposed	1,144

Real Estate Archstone Acquisiti

Real Estate Archstone Acquisition (Details)	12 Months Ended
	Dec. 31, 2015USD ($)propertyshares	Dec. 31, 2014USD ($)propertyshares	Dec. 31, 2013USD ($)$ / sharesshares	Dec. 31, 2012USD ($)$ / sharesshares	Feb. 27, 2013USD ($)
Properties acquired | property	4	6
Property Units Acquired	625	1,353
Master Leased Properties Acquired	3
Payments to Acquire Businesses, Net of Cash Acquired	$ 0	$ 0	$ 4,000,875,000
Secured Debt	$ 4,704,870,000	$ 5,086,515,000
Stock Issued During Period, Shares, New Issues | shares	0	0	34,468,085
Number Of Operating Properties Under Long Term Ground Leases	14
Land	$ 5,864,046,000	$ 6,295,404,000
Depreciable property Abstract
Buildings and improvements	16,336,829,000	17,974,337,000
Furniture, fixtures and equipment	1,207,098,000	1,365,276,000
Finite-Lived Intangible Asset, Acquired-in-Place Leases	483,160,000	511,891,000
Projects under development	1,122,376,000	1,343,919,000
Land held for development	168,843,000	184,556,000
Other assets	422,027,000	383,754,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(366,387,000)	(389,915,000)
Business Combination, Acquisition Related Costs	1,000,000	400,000	$ 300,000
Payments of Financing Costs	6,425,000	10,982,000	16,526,000
Income (Loss) from Equity Method Investments	(15,025,000)	7,952,000	58,156,000
ERPOP [Member]
Payments to Acquire Businesses, Net of Cash Acquired	0	0	4,000,875,000
Secured Debt	4,704,870,000	5,086,515,000
Land	5,864,046,000	6,295,404,000
Depreciable property Abstract
Projects under development	1,122,376,000	1,343,919,000
Land held for development	168,843,000	184,556,000
Other assets	422,027,000	383,754,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(366,387,000)	(389,915,000)
Payments of Financing Costs	6,425,000	10,982,000	16,526,000
Income (Loss) from Equity Method Investments	(15,025,000)	7,952,000	$ 58,156,000
Consolidated Properties [Member]
Secured Debt	343,429,000
Depreciable property Abstract
Other assets	26,567,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(786,000)
Income (Loss) from Equity Method Investments	1,501,000
Unconsolidated Properties [Member]
Secured Debt	174,846,000
Depreciable property Abstract
Other assets	448,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(347,000)
Income (Loss) from Equity Method Investments	0
Archstone Transaction [Member]
Business Acquisition, Percentage of Voting Interests Acquired					60.00%
Properties acquired			71
Property Units Acquired			20,160
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
Net assets acquired			$ 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
Payments to Acquire Businesses, Net of Cash Acquired			4,000,000,000
Secured Debt			$ 2,000,000,000
Stock Issued During Period, Shares, New Issues | shares			34,468,085	21,850,000
Stock Issued During Period, Value, New Issues			$ 1,900,000,000	$ 1,200,000,000
Average Price Per Common Share Issued | $ / shares			$ 55.99	$ 54.75
Noncash or Part Noncash Acquisition, Debt Assumed			$ 3,100,000,000
Mark-to-Market Debt Premiums			127,900,000
Proceeds from Sale of Other Assets			$ 4,500,000,000
Number Of Operating Properties Under Long Term Ground Leases			9
Land			$ 2,239,000,000
Depreciable property Abstract
Buildings and improvements			5,765,538,000
Furniture, fixtures and equipment			61,470,000
Finite-Lived Intangible Asset, Acquired-in-Place Leases			304,830,000
Projects under development			36,583,000
Land held for development			244,097,000
Business Combination Purchase Price Allocation Investments in Unconsolidated Entities			230,608,000
Other assets			195,260,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other			(108,997,000)
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross					$ 1,260,000
Off-market Lease, Unfavorable					2,400,000
Business Combination, Acquisition Related Costs	83,100,000
Payments of Financing Costs	13,500,000		2,500,000
Merger Expenses	69,600,000		19,900,000
Income (Loss) from Equity Method Investments	2,700,000	4,300,000	54,000,000
Business Acquisition, Pro Forma Revenue			2,485,438,000
Business Acquisition, Proforma Income Loss From Continuing Operations			203,286,000
Business Acquisition, Proforma Income Loss From Discontinued Operations Net Of Tax			2,074,072,000
Business Acquisition, Pro Forma Net Income (Loss)			2,277,358,000
Business Acquisition, Proforma Net Income Available to Common Shares			$ 2,183,756,000
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares			$ 6.07
Business Acquisition, Proforma Weighted Average Common Shares Basic | shares			359,688,000
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares			$ 6.05
Business Acquisition, Proforma Weighted Average Number Of Shares Diluted | shares			375,861,000
Severance Costs			$ 54,100,000
Archstone Transaction [Member] | DelayedDrawTermLoan [Member]
Term Loan Principal Amount			750,000,000
Archstone Transaction [Member] | Positive Outcome of Litigation [Member]
Depreciable property Abstract
Income (Loss) from Equity Method Investments	18,600,000
Archstone Transaction [Member] | ERPOP [Member]
Depreciable property Abstract
Business Acquisition, Pro Forma Revenue			2,485,438,000
Business Acquisition, Proforma Income Loss From Continuing Operations			203,286,000
Business Acquisition, Proforma Income Loss From Discontinued Operations Net Of Tax			2,074,072,000
Business Acquisition, Pro Forma Net Income (Loss)			2,277,358,000
Business Acquisition, Proforma Net Income Available to Units			$ 2,273,798,000
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares			$ 6.07
Business Acquisition, Proforma Weighted Average Limited Partnership And General Partnership Units Outstanding Basic | shares			373,421,000
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares			$ 6.05
Business Acquisition, Proforma Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Diluted | shares			375,861,000
Archstone Transaction [Member] | Consolidated Properties [Member]
Uncompleted Development Properties Acquired			2
Archstone Transaction [Member] | Unconsolidated Properties [Member]
Uncompleted Development Properties Acquired			2
Assets [Member]
Depreciable property Abstract
Below Market Lease, Gross	178,251,000	178,251,000			178,251,000
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross	1,260,000	1,260,000
Liability [Member]
Depreciable property Abstract
Below Market Lease, Gross	5,270,000	5,270,000			$ 8,040,000
Off-market Lease, Unfavorable	$ 2,400,000	$ 2,400,000

Real Estate Other (Details)

Real Estate Other (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 323,837	$ 498,640
Investment in real estate, net	20,276,946	22,242,578
Partially Owned Properties	4,608	124,909
Restricted Cash and Cash Equivalents	55,893	$ 72,303
Company's Portion [Member]
Land purchase price	76,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	102,500
Joint Venture Partner [Member]
Land purchase price	57,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	75,700
Investment in real estate, net	116,700
Partially Owned Properties	117,300
Accrued Liabilities	1,100
Restricted Cash and Cash Equivalents	$ 1,700

Commitments to Acquire_Dispos62

Commitments to Acquire/Dispose of Real Estate (Details) - Commitments [Member] $ in Thousands	Feb. 19, 2016USD ($)property
Properties Contracted To Be Acquired	3
Units Contracted To Be Acquired	549
Purchase Price For Commitments To Acquire	$ 242,880
Properties Contracted To Be Disposed | property	0
Units Contracted To Be Disposed	0
Sales Price For Commitments To Dispose	$ 14,886
Land [Member]
Sales Price For Commitments To Dispose	$ 14,886
Land Parcels Contracted To Be Disposed	2
Rental Properties to be acquired [Member]
Properties Contracted To Be Acquired	3
Units Contracted To Be Acquired	549
Purchase Price For Commitments To Acquire	$ 242,880

Investments in Partially Owne63

Investments in Partially Owned Entities (Details)	12 Months Ended
	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2013USD ($)	Feb. 27, 2013USD ($)	Dec. 31, 2012USD ($)
Partially Owned Property Balance Sheet Schedule
Partially Owned Properties	394
Number of Units in Real Estate Property	109,652
ASSETS
Investment in real estate	$ 25,182,352,000	$ 27,675,383,000
Accumulated depreciation	(4,905,406,000)	(5,432,805,000)
Investment in real estate, net	20,276,946,000	22,242,578,000
Cash and cash equivalents	42,276,000	40,080,000	$ 53,534,000		$ 612,590,000
Investments in unconsolidated entities	68,101,000	105,434,000
Restricted Cash and Cash Equivalents	55,893,000	72,303,000
Deferred financing costs, net	54,004,000	58,380,000
Other assets	422,027,000	383,754,000
Total assets	23,157,328,000	22,950,614,000
LIABILITIES AND EQUITY
Secured Debt	4,704,870,000	5,086,515,000
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable	187,124,000	153,590,000
Accrued interest payable	85,221,000	89,540,000
Other liabilities	366,387,000	389,915,000
Security Deposit Liability	77,582,000	75,633,000
Total liabilities	11,894,190,000	11,742,105,000
Noncontrolling Interests Partially Owned Properties	4,608,000	124,909,000
Total equity/capital	10,696,355,000	10,707,776,000
Total liabilities and equity/capital	23,157,328,000	22,950,614,000
Partially Owned Property Income Statement Schedule
Operating revenue	2,744,965,000	2,614,748,000	2,387,702,000
Depreciation	765,895,000	758,861,000	978,973,000
General and administrative/other	65,082,000	50,948,000	62,179,000
Operating income	1,008,820,000	921,375,000	512,322,000
Interest and other income	7,372,000	4,462,000	5,283,000
Other expenses	(2,942,000)	(9,073,000)	(29,630,000)
Interest:
Expense incurred, net	(444,069,000)	(457,191,000)	(586,854,000)
Amortization of deferred financing costs	(10,801,000)	(11,088,000)	(22,197,000)
Income (loss) before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	558,380,000	448,485,000	(121,076,000)
Income and other tax (expense) benefit	(917,000)	(1,394,000)	(1,169,000)
Income (loss) from investments in unconsolidated entities	15,025,000	(7,952,000)	(58,156,000)
Net income	$ 908,018,000	$ 658,683,000	1,905,353,000
Investments In Partially Owned Entities (Textuals) [Abstract]
Disposed Properties | property	8	11
Disposed Units	1,857	3,480
Partially Owned Consolidated Units	3,771
Investments in unconsolidated entities	$ 68,101,000	$ 105,434,000
Partially Owned Unconsolidated Units	1,281
Secured Debt	$ 4,704,870,000	5,086,515,000
Distributions from unconsolidated entities – return of capital	51,144,000	103,793,000	25,471,000
Joint Venture Partner [Member]
ASSETS
Investment in real estate, net	116,700,000
Restricted Cash and Cash Equivalents	1,700,000
LIABILITIES AND EQUITY
Noncontrolling Interests Partially Owned Properties	$ 117,300,000
Consolidated Properties [Member]
Partially Owned Property Balance Sheet Schedule
Partially Owned Properties	19
Number of Units in Real Estate Property	3,771
ASSETS
Investment in real estate	$ 689,574,000
Accumulated depreciation	(216,697,000)
Investment in real estate, net	472,877,000
Cash and cash equivalents	23,445,000
Investments in unconsolidated entities	49,408,000
Restricted Cash and Cash Equivalents	346,000
Deferred financing costs, net	1,792,000
Other assets	26,567,000
Total assets	574,435,000
LIABILITIES AND EQUITY
Secured Debt	343,429,000
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable	1,698,000
Accrued interest payable	1,223,000
Other liabilities	786,000
Security Deposit Liability	2,036,000
Total liabilities	349,172,000
Noncontrolling Interests Partially Owned Properties	4,608,000
Parent Equity Interest	220,655,000
Total equity/capital	225,263,000
Total liabilities and equity/capital	574,435,000
Partially Owned Property Income Statement Schedule
Operating revenue	94,349,000
Operating expenses	26,081,000
Net operating income	68,268,000
Depreciation	22,216,000
General and administrative/other	330,000
Operating income	45,722,000
Interest and other income	12,000
Other expenses	(50,000)
Interest:
Expense incurred, net	(15,459,000)
Amortization of deferred financing costs	(349,000)
Income (loss) before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	29,876,000
Income and other tax (expense) benefit	(35,000)
Income (loss) from investments in unconsolidated entities	(1,501,000)
Net income	28,340,000
Investments In Partially Owned Entities (Textuals) [Abstract]
Investments in unconsolidated entities	49,408,000
Secured Debt	$ 343,429,000
Unconsolidated Properties [Member]
Partially Owned Property Balance Sheet Schedule
Partially Owned Properties	3
Number of Units in Real Estate Property	1,281
ASSETS
Investment in real estate	$ 290,891,000
Accumulated depreciation	(30,662,000)
Investment in real estate, net	260,229,000
Cash and cash equivalents	7,044,000
Investments in unconsolidated entities	0
Restricted Cash and Cash Equivalents	289,000
Deferred financing costs, net	6,000
Other assets	448,000
Total assets	268,016,000
LIABILITIES AND EQUITY
Secured Debt	174,846,000
Accounts Payable And Accrued Liabilities Current And Noncurrent Other Than Interest And Dividend Payable	733,000
Accrued interest payable	691,000
Other liabilities	347,000
Security Deposit Liability	645,000
Total liabilities	177,262,000
Noncontrolling Interests Partially Owned Properties	90,878,000
Parent Equity Interest	(124,000)
Total equity/capital	90,754,000
Total liabilities and equity/capital	268,016,000
Partially Owned Property Income Statement Schedule
Operating revenue	32,285,000
Operating expenses	12,061,000
Net operating income	20,224,000
Depreciation	12,350,000
General and administrative/other	255,000
Operating income	7,619,000
Interest and other income	(1,000)
Other expenses	0
Interest:
Expense incurred, net	(9,390,000)
Amortization of deferred financing costs	(2,000)
Income (loss) before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	(1,774,000)
Income and other tax (expense) benefit	(18,000)
Income (loss) from investments in unconsolidated entities	0
Net income	(1,792,000)
Investments In Partially Owned Entities (Textuals) [Abstract]
Investments in unconsolidated entities	0
Secured Debt	174,846,000
Legacy JV [Domain]
Interest:
Liquidation Value Preferred Interests	42,200,000
Investments In Partially Owned Entities (Textuals) [Abstract]
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	27,900,000
Liquidation Value Preferred Interests	42,200,000
Residual JV [Domain]
ASSETS
Investments in unconsolidated entities	$ (300,000)			$ 147,600,000
Interest:
Joint Venture Partner Ownership Percentage	40.00%
Investments In Partially Owned Entities (Textuals) [Abstract]
Investments in unconsolidated entities	$ (300,000)			$ 147,600,000
Joint Venture Partner Ownership Percentage	40.00%
Distributions from unconsolidated entities – return of capital	$ 51,000,000	83,500,000	$ 18,900,000
Residual JV [Domain] | Settled Litigation [Member]
Investments In Partially Owned Entities (Textuals) [Abstract]
Distributions from unconsolidated entities – return of capital	16,800,000
Residual JV [Domain] | Property, Plant and Equipment [Member]
Investments In Partially Owned Entities (Textuals) [Abstract]
Distributions from unconsolidated entities – return of capital	30,700,000	$ 3,900,000
Joint Venture Partner [Member]
Investments In Partially Owned Entities (Textuals) [Abstract]
Disposed Properties		1
Gain Loss On Sale Of Land Parcels		$ 1,100,000
Unconsolidated Properties [Member]
Investments In Partially Owned Entities (Textuals) [Abstract]
Disposed Properties		1
Equity Method Investment, Realized Gain (Loss) on Disposal		$ 4,900,000
Disposed Units		388
Wisconsin Place [Domain]
ASSETS
Investments in unconsolidated entities	$ 49,400,000
Interest:
Business Acquisition, Percentage of Voting Interests Acquired	75.00%
Investments In Partially Owned Entities (Textuals) [Abstract]
Business Acquisition, Percentage of Voting Interests Acquired	75.00%
Partially Owned Consolidated Units	432
Basis of joint venture	$ 175,800,000
Investments in unconsolidated entities	49,400,000
Waterton Tenside [Domain]
ASSETS
Investments in unconsolidated entities	3,900,000
LIABILITIES AND EQUITY
Secured Debt	29,400,000
Investments In Partially Owned Entities (Textuals) [Abstract]
Investments in unconsolidated entities	$ 3,900,000
Equity Method Investment, Ownership Percentage	20.00%
Partially Owned Unconsolidated Units			336
Secured Debt	$ 29,400,000
Debt Instrument, Interest Rate, Stated Percentage	3.66%
Debt Instrument, Maturity Date	Dec. 1, 2018
Domain [Member]
ASSETS
Investments in unconsolidated entities	$ 10,000,000
LIABILITIES AND EQUITY
Secured Debt	96,800,000
Investments In Partially Owned Entities (Textuals) [Abstract]
Investments in unconsolidated entities	$ 10,000,000
Partially Owned Unconsolidated Units	444
Secured Debt	$ 96,800,000
Debt Instrument, Interest Rate, Stated Percentage	5.75%
Debt Instrument, Maturity Date	Jan. 1, 2022
Nexus Sawgrass [Member]
ASSETS
Investments in unconsolidated entities	$ 5,100,000
LIABILITIES AND EQUITY
Secured Debt	48,600,000
Investments In Partially Owned Entities (Textuals) [Abstract]
Investments in unconsolidated entities	$ 5,100,000
Equity Method Investment, Ownership Percentage	20.00%
Partially Owned Unconsolidated Units	501
Secured Debt	$ 48,600,000
Debt Instrument, Interest Rate, Stated Percentage	5.60%
Debt Instrument, Maturity Date	Jan. 1, 2021
Germany [Domain]
Investments In Partially Owned Entities (Textuals) [Abstract]
Distributions from unconsolidated entities – return of capital	$ 3,500,000	$ 79,600,000	$ 18,900,000
Archstone Transaction [Member]
ASSETS
Other assets			195,260,000
LIABILITIES AND EQUITY
Secured Debt			2,000,000,000
Other liabilities			108,997,000
Interest:
Income (loss) from investments in unconsolidated entities	(2,700,000)	$ (4,300,000)	(54,000,000)
Business Acquisition, Percentage of Voting Interests Acquired				60.00%
Investments In Partially Owned Entities (Textuals) [Abstract]
Business Acquisition, Percentage of Voting Interests Acquired				60.00%
Secured Debt			$ 2,000,000,000
Company's Portion [Member] | Legacy JV [Domain]
Investments In Partially Owned Entities (Textuals) [Abstract]
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	$ 16,700,000

Deposits - Restricted (Details)

Deposits - Restricted (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Restricted Cash and Cash Equivalents Items [Line Items]
Earnest Money Deposits	$ 1,000	$ 580
Restricted deposits on real estate investments	6,077	24,701
Resident security and utility deposits	48,458	46,516
Other	358	506
Totals	55,893	72,303
Real estate taxes and insurance	1,977	2,235
Replacement Reserve Escrow	3,962	3,431
Mortgage principal reserves/sinking funds	50,155	41,567
Other	852	852
Totals	$ 56,946	$ 48,085

Debt Mortgage Notes Payable (De

Debt Mortgage Notes Payable (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2013USD ($)
Debt Instrument [Line Items]
Mortgage notes payable	$ 4,704,870	$ 5,086,515
Repayments of Long-term Debt	368,500	100,700
Write Off Of Unamortized Deferred Financing Costs	600
Write off unamortized (premium) discount	1,400	1,900
Historical cost, net of accumulated depreciation, of encumbered properties	6,000,000	6,900,000
Mortgage loans assumed	$ 0	$ 28,910	$ 0
Properties acquired | property	4	6
Prepayment penalty charges		$ 300
Credit enhanced debt [Member]
Debt Instrument [Line Items]
Mortgage notes payable	$ 668,800	$ 700,500
Mortgages [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date	May 1, 2061	May 1, 2061
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.01%	0.03%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	7.25%	7.25%
Weighted Average Mortgage Debt Interest Rate	4.23%	4.21%
Properties acquired | property		1

Debt Notes (Details)

Debt Notes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Proceeds from Issuance of Unsecured Debt		$ 750,000	$ 500,000
Debt Instrument, Basis Spread on Variable Rate	0.00%
Repayments of Notes Payable	$ 300,000	1,250,000	$ 400,000
Summary of Company's unsecured note balances and certain interest rate and maturity date information
Notes, net	$ 5,876,352	5,425,346
6.584% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.584%
Repayments of Notes Payable	$ 300,000
3.375% Notes [Member] [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Unsecured Debt	$ 450,000
Debt Instrument, Interest Rate, Stated Percentage	3.375%
Proceeds from Debt, Net of Issuance Costs	$ 447,500
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum	3.81%
4.50% Notes [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Unsecured Debt	$ 300,000	$ 750,000
Debt Instrument, Interest Rate, Stated Percentage	4.50%	4.50%
Proceeds from Debt, Net of Issuance Costs	$ 298,900	$ 744,700
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum	4.55%	4.57%
5.250% Notes [Member] [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.25%
Repayments of Notes Payable		$ 500,000
DelayedDrawTermLoan [Member]
Debt Instrument [Line Items]
Repayments of Notes Payable		750,000
Write-off of unamortized deferred financing costs		600
2.375% Notes [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Unsecured Debt	$ 450,000	$ 450,000
Debt Instrument, Interest Rate, Stated Percentage	2.375%	2.375%
Debt Instrument, Basis Spread on Variable Rate	0.61%
Proceeds from Debt, Net of Issuance Costs		$ 449,600
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum		2.52%
Fixed Rate Public or Private Notes [Member]
Summary of Company's unsecured note balances and certain interest rate and maturity date information
Notes, net	$ 5,423,012	$ 4,974,154
Weighted Average Interest Rate	5.30%	5.45%
Floating Rate Public or Private Notes [Member]
Summary of Company's unsecured note balances and certain interest rate and maturity date information
Notes, net	$ 453,340	$ 451,192
Weighted Average Interest Rate	0.93%	1.15%
2.375% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.61%
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	Jan. 1, 2016	Jan. 1, 2015
Debt Instrument, Maturity Date Range, End	Dec. 31, 2045	Dec. 31, 2044
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	Jan. 1, 2019	Jan. 1, 2019
Debt Instrument, Maturity Date Range, End	Dec. 31, 2019	Dec. 31, 2019
London Interbank Offered Rate (LIBOR) [Member] | 2.375% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR plus .61%	LIBOR plus .61%

Debt Debt Line of Credit and Co

Debt Debt Line of Credit and Commercial Paper (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.00%
Unamortized Discount	$ 46,260
A 175 billion LOC [Member]
Line of Credit Facility [Line Items]
Unsecured revolving credit facility	1,750,000
A 250 billion LOC [Member] [Domain]
Line of Credit Facility [Line Items]
Unsecured revolving credit facility	$ 2,500,000
Debt Instrument, Maturity Date	Apr. 1, 2018
500.0 million ability to increase	$ 500,000
Line Of Credit Facility Commitment Fee	15 Basis Points
Remaining borrowing capacity	$ 2,070,000	$ 2,120,000
Amount restricted/dedicated to support letters of credit	$ 45,100	$ 43,800
Weighted average interest rate on revolving letter of credit	1.07%	0.95%
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Commercial paper, maximum borrowing capacity	$ 500,000
Commercial Paper, net	387,300
commercial paper principal outstanding	387,500
Unamortized Discount	$ 200
Weighted Average Interest Rate Commercial Paper	0.56%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-term Line of Credit		$ 333,000
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | A 250 billion LOC [Member] [Domain]
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR plus 0.95%

Debt Other (Details)

Debt Other (Details) $ in Thousands	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 1,352,813
Long-term Debt, Maturities, Repayments of Principal in Year Two	1,347,846
Long-term Debt, Maturities, Repayments of Principal in Year Three	180,461
Long-term Debt, Maturities, Repayments of Principal in Year Four	1,281,127
Long-term Debt, Maturities, Repayments of Principal in Year Five	1,679,432
Long-term Debt, Maturities, Repayments of Principal after Year Five	5,173,079
Debt Instrument, Unamortized Discount	(46,260)
Total Secured and Unsecured Debt	$ 10,968,498

Derivative and Other Fair Val69

Derivative and Other Fair Value Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative [Line Items]
Secured Debt	$ 4,704,870	$ 5,086,515
Proceeds from Issuance of Unsecured Debt		750,000	$ 500,000
Debt Instrument, Basis Spread on Variable Rate	0.00%
Fair Value Hedging [Member]
Derivative [Line Items]
Current Notional Balance	$ 450,000
Lowest Possible Notional	450,000
Highest Possible Notional	$ 450,000
Lower Interest Rate	2.375%
Higher Interest Rate	2.375%
Earliest Maturity Date	2,019
Latest Maturity Date	2,019
Forward Starting Swaps [Member]
Derivative [Line Items]
Current Notional Balance	$ 50,000
Lowest Possible Notional	50,000
Highest Possible Notional	$ 50,000
Lower Interest Rate	2.50%
Higher Interest Rate	2.50%
Earliest Maturity Date	2,026
Latest Maturity Date	2,026
2.375% Notes [Member]
Derivative [Line Items]
Proceeds from Issuance of Unsecured Debt	$ 450,000	$ 450,000
Debt Instrument, Interest Rate, Stated Percentage	2.375%	2.375%
Debt Instrument, Basis Spread on Variable Rate	0.61%
Secured Debt [Member]
Derivative [Line Items]
Secured Debt	$ 4,704,870	$ 5,086,515
Debt Instrument, Fair Value Disclosure	4,600,000	5,100,000
Unsecured Debt [Member]
Derivative [Line Items]
Unsecured Debt	6,300,000	5,800,000
Debt Instrument, Fair Value Disclosure	$ 6,500,000	$ 6,100,000
London Interbank Offered Rate (LIBOR) [Member] | 2.375% Notes [Member]
Derivative [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR plus .61%	LIBOR plus .61%

Derivative and Other Fair Val70

Derivative and Other Fair Value Instruments (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Derivatives, Fair Value [Line Items]
Fair Value Of Serp Investments	$ 105,942	$ 104,463
Assets, Fair Value Disclosure	109,597	106,392
Other Liabilities, Fair Value Disclosure	105,942	104,463
Liabilities, Fair Value Disclosure	106,615	118,567
Redeemable Noncontrolling Interests – Operating Partnership	566,783	500,733	$ 363,144	$ 398,372
Fair Value, Inputs, Level 1 [Member]
Derivatives, Fair Value [Line Items]
Fair Value Of Serp Investments	105,942	104,463
Assets, Fair Value Disclosure	105,942	104,463
Other Liabilities, Fair Value Disclosure	105,942	104,463
Liabilities, Fair Value Disclosure	105,942	104,463
Redeemable Noncontrolling Interests – Operating Partnership	0	0
Fair Value, Inputs, Level 2 [Member]
Derivatives, Fair Value [Line Items]
Fair Value Of Serp Investments	0	0
Assets, Fair Value Disclosure	3,655	1,929
Other Liabilities, Fair Value Disclosure	0	0
Liabilities, Fair Value Disclosure	673	14,104
Redeemable Noncontrolling Interests – Operating Partnership	566,783	500,733
Fair Value, Inputs, Level 3 [Member]
Derivatives, Fair Value [Line Items]
Fair Value Of Serp Investments	0	0
Assets, Fair Value Disclosure	0	0
Other Liabilities, Fair Value Disclosure	0	0
Liabilities, Fair Value Disclosure	0	0
Redeemable Noncontrolling Interests – Operating Partnership	0	0
Fair Value Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	3,655	1,597
Fair Value Hedging [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0
Fair Value Hedging [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	3,655	1,597
Fair Value Hedging [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0
Forward Starting Swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		332
Derivative liability, fair value	673	14,104
Forward Starting Swaps [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		0
Derivative liability, fair value	0	0
Forward Starting Swaps [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		332
Derivative liability, fair value	673	14,104
Forward Starting Swaps [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		0
Derivative liability, fair value	$ 0	$ 0

Derivative and Other Fair Val71

Derivative and Other Fair Value Instruments (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments	$ 2,058	$ 1,597	$ (1,523)
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge	(2,058)	(1,597)	1,523
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net		(33,215)	18,771
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net		(16,868)	(20,141)
Ineffective Portion - Amount of Gain/ (Loss) Reclassifed from Accumulated OCI into Income	3,000	91	0
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Increase (Decrease) in Fair Value of Interest Rate Fair Value Hedging Instruments	$ 2,058	$ 1,597	$ (1,523)
Derivative, Description of Hedged Item	Fixed rate debt	Fixed rate debt	Fixed rate debt
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge	$ (2,058)	$ (1,597)	$ 1,523
Forward Starting Swaps/Treasury Locks [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	(814)	(33,215)	18,771
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(18,244)	(16,868)	(20,141)
Ineffective Portion - Amount of Gain/ (Loss) Reclassifed from Accumulated OCI into Income	$ (3,033)	$ 91	$ 0

Derivative and Other Fair Val72

Derivative and Other Fair Value Instruments (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available for Sale and Held to Maturity Securities
Proceeds from sale of investment securities	$ 2,535	$ 57	$ 4,878
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 Val73

Derivative and Other Fair Value Instruments (Details Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative [Line Items]
Mortgage notes payable	$ 4,704,870,000	$ 5,086,515,000
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	(151,800,000)	(172,200,000)
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	24,700,000
Payments for (Proceeds from) Hedge, Investing Activities		2,000,000	$ 44,700,000
Proceeds from Issuance of Unsecured Debt		750,000,000	500,000,000
Interest Expense		1,300,000	700,000
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	3,000,000	91,000	0
Charges Hedge Termination Activities		800,000	44,000,000
Secured Debt [Member]
Derivative [Line Items]
Mortgage notes payable	4,704,870,000	5,086,515,000
Debt Instrument, Fair Value Disclosure	4,600,000,000	5,100,000,000
Unsecured Debt [Member]
Derivative [Line Items]
Notes, net	6,300,000,000	5,800,000,000
Debt Instrument, Fair Value Disclosure	6,500,000,000	6,100,000,000
3.375% Notes [Member] [Member]
Derivative [Line Items]
Payments for (Proceeds from) Hedge, Investing Activities	15,100,000
Proceeds from Issuance of Unsecured Debt	450,000,000
Interest Expense	1,200,000
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	(30,000)
Charges Hedge Termination Activities	13,900,000
Forward Starting Swaps/Treasury Locks [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	$ (3,033,000)	$ 91,000	$ 0

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income (loss) from continuing operations	$ 907,621	$ 657,101	$ (168,174)
Income (Loss) Attributable to Noncontrolling Interest	(34,226)	(24,771)	6,834
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	(3,657)	(2,544)	538
Preferred distributions	(3,357)	(4,145)	(4,145)
Preferred Stock Redemption Premium	(3,486)	0	0
Income (loss) from continuing operations available to Common Shares, net of Noncontrolling Interests	862,895	625,641	(164,947)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	382	1,522	1,991,415
Numerator for net income per share – basic	863,277	627,163	1,826,468
Income From Continuing Operations Available To Common Shares	897,121	650,412
Discontinued operations, net	397	1,582	2,073,527
Net Income (Loss) Available to Common Stockholders, Diluted	$ 897,518	$ 651,994	$ 1,826,468
Weighted average Common Shares outstanding	363,498	361,181	354,305
Dilutive Op Units	13,576	13,718
Dilutive Securities Options	3,546	2,836
Weighted average Common Shares outstanding	380,620	377,735	354,305
Earnings Per Share, Basic	$ 2.37	$ 1.74	$ 5.16
Earnings Per Share, Diluted	2.36	1.73	5.16
Income (loss) from continuing operations available to Common Shares	2.37	1.73	(0.47)
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0	0.01	5.63
Income (loss) from continuing operations available to Common Shares	2.36	1.72	(0.47)
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	$ 0	$ 0.01	$ 5.63
ERPOP [Member]
Income (loss) from continuing operations	$ 907,621	$ 657,101	$ (168,174)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	(3,657)	(2,544)	538
Preferred Stock Redemption Premium	(3,486)	0	0
Discontinued operations, net	$ 397	$ 1,582	$ 2,073,527
Dilutive Securities Options	3,546	2,836
Weighted average Common Shares outstanding	380,620	377,735	368,038
Earnings Per Share, Basic	$ 2.37	$ 1.74	$ 5.16
Earnings Per Share, Diluted	2.36	1.73	5.16
Income (loss) from continuing operations available to Common Shares	2.37	1.73	(0.47)
Income (loss) from continuing operations available to Common Shares	$ 2.36	$ 1.72	$ (0.47)
Allocation to Preference Units	$ (3,357)	$ (4,145)	$ (4,145)
Income Loss From Continuing Operations Available To Units	897,121	650,412	(171,781)
Numerator for net income per Unit – basic and diluted (1)	$ 897,518	$ 651,994	$ 1,901,746
Weighted Average Limited Partnership and General Partnership Units Outstanding, Basic	377,074	374,899	368,038
Income (Loss) from Discontinued Operations, Net of Tax, Per Outstanding Limited Partnership and General Partnership Unit, Basic	$ 0	$ 0.01	$ 5.63
Income Loss From Discontinued Operations Net Of Tax Per Outstanding Limited Partnership And General Partnership net Diluted	$ 0	$ 0.01	$ 5.63

Individually Significant Dispos

Individually Significant Dispositions and Discontinued Operations Individually Significant Dispositions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUES
Total revenues	$ 2,744,965	$ 2,614,748	$ 2,387,702
Operating Leases, Income Statement, Lease Revenue	2,736,578	2,605,311	2,378,004
EXPENSES (1)
Cost of Property Repairs and Maintenance	479,160	473,098	449,427
Real Estate Taxes and Insurance	339,802	325,401	293,999
Owned Property Management Costs	81,185	79,636	84,342
Depreciation	765,895	758,861	978,973
General and administrative	65,082	50,948	62,179
Total expenses	1,736,145	1,693,373	1,875,380
Operating income	1,008,820	921,375	512,322
Interest and Other Income	7,372	4,462	5,283
Other expenses	(2,942)	(9,073)	(29,630)
Interest (2):
Expense incurred, net	(444,069)	(457,191)	(586,854)
Amortization of deferred financing costs	(10,801)	(11,088)	(22,197)
Income and other tax (expense) benefit	(917)	(1,394)	(1,169)
Net income	908,018	658,683	1,905,353
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	(3,657)	(2,544)	538
Net Income (Loss) Attributable to Noncontrolling Interest	(34,241)	(24,831)	(75,278)
Net income attributable to controlling interests	$ 870,120	$ 631,308	$ 1,830,613
Starwood Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of consolidated NOI	16.40%	16.10%	16.40%
REVENUES
Total revenues	$ 427,433	$ 401,134	$ 373,899
Operating Leases, Income Statement, Lease Revenue	427,433	401,134	373,899
EXPENSES (1)
Cost of Property Repairs and Maintenance	78,189	76,579	75,848
Real Estate Taxes and Insurance	48,403	46,416	44,035
Owned Property Management Costs	11	11	11
Depreciation	87,616	104,104	105,015
General and administrative	38	24	22
Total expenses	214,257	227,134	224,931
Operating income	213,176	174,000	148,968
Interest and Other Income	1	1	2
Other expenses	(35)	(1)	0
Interest (2):
Expense incurred, net	(680)	(701)	(754)
Amortization of deferred financing costs	(559)	(98)	(98)
Income and other tax (expense) benefit	(1)	(3)	(2)
Net income	211,902	173,198	148,116
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	0	(14)	(52)
Net income available to Units – General Partner	211,902	173,184	148,064
Net Income (Loss) Attributable to Noncontrolling Interest	(8,083)	(6,598)	(5,692)
Net income attributable to controlling interests	$ 203,819	$ 166,586	$ 142,372

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUES
Disposal Group, Including Discontinued Operation, Rental Income	$ 499	$ 1,309	$ 121,942
Disposal Group, Including Discontinued Operation, Revenue	499	1,309	121,942
EXPENSES (1)
Disposal Group Including Discontinued Operation Property And Maintenance	(60)	(141)	36,792
Disposal Group Including Discontinued Operation Real Estate Taxes And Insurance	65	267	11,903
Disposal Group Including Discontinued Operations Property Management	0	0	1
Disposal Group Including Discontinued Operation Depreciation	0	0	34,380
Disposal Group, Including Discontinued Operation, General and Administrative Expense	85	89	85
Disposal Group, Including Discontinued Operation, Operating Expense	90	215	83,161
Disposal Group, Including Discontinued Operation, Operating Income (Loss)	409	1,094	38,781
Disposal Group Including Discontinued Operation Interest And Other Income	3	317	217
Disposal Group Including Discontinued Operation Other Expenses	0	0	(3)
Interest (2):
Expense incurred, net	0	0	(1,296)
Disposal Group Including Discontinued Operation Amortization Of Deferred Financing Costs	0	0	(228)
Discontinued Operation, Tax Effect of Discontinued Operation	(15)	(8)	(449)
Income Loss From Discontinued Operations	397	1,403	37,022
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	0	179	2,036,505
Discontinued operations, net	$ 397	$ 1,582	$ 2,073,527

Share Incentive Plans (Details)

Share Incentive Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
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	7,952,498
Compensation information
Compensation Expense	$ 34,607	$ 27,543	$ 35,474
Compensation Capitalized	2,948	2,538	2,545
Restricted Units In-Lieu of Bonus (1)	3,654
Compensation Equity	41,209	30,081	38,019
Dividends Incurred	2,779	2,260	1,487
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 10,600
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 3 months 21 days
Restricted Shares [Member]
Compensation information
Compensation Expense	$ 13,755	9,244	12,185
Compensation Capitalized	1,311	660	1,079
Restricted Units In-Lieu of Bonus (1)	0
Compensation Equity	15,066	9,904	13,264
Dividends Incurred	1,160	1,012	967
Restricted Stock Units (RSUs) [Member]
Compensation information
Compensation Expense	17,311	11,049	13,108
Compensation Capitalized	538	920	501
Restricted Units In-Lieu of Bonus (1)	3,654
Compensation Equity	21,503	11,969	13,609
Dividends Incurred	1,619	1,248	520
Employee Stock Option [Member]
Compensation information
Compensation Expense	2,746	6,453	9,569
Compensation Capitalized	1,010	896	945
Restricted Units In-Lieu of Bonus (1)	0
Compensation Equity	3,756	7,349	10,514
Dividends Incurred	0	0	0
Employee Share Purchase Plan Discount [Member]
Compensation information
Compensation Expense	795	797	612
Compensation Capitalized	89	62	20
Restricted Units In-Lieu of Bonus (1)	0
Compensation Equity	884	859	632
Dividends Incurred	$ 0	$ 0	$ 0

Award Activity of the Share Inc

Award Activity of the Share Incentive Plans - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Conversion of restricted shares to restricted units	(1,284)	(12,146)	0
Weighted average grant date fair value for Options	$ 13.68	$ 9.12	$ 7.90
Intrinsic value of options exercised	$ 52.9	$ 50.8	$ 16.7
Employee Stock Option [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Common Shares Subject to Options, Beginning Balance	7,030,620	8,470,532	8,115,255
Common Shares Subject to Options, Awards granted	171,150	667,877	1,006,444
Stock Options Exercised	(1,456,363)	(2,086,380)	(586,017)
Common Shares Subject to Options, Awards forfeited	(9,550)	(19,022)	(47,819)
Common Shares Subject to Options, Awards expired	(1,492)	(2,387)	(17,331)
Common Shares Subject to Options, Ending Balance	5,734,365	7,030,620	8,470,532
Weighted Average Exercise Price per option, Beginning Balance	$ 46.16	$ 43.67	$ 41.31
Weighted Average Exercise Price per option, Awards granted	80.15	56.72	55.07
Weighted Average Exercise Price per option, Awards exercised/vested	42.64	39.34	29.34
Weighted Average Exercise Price per option, Awards forfeited	64.53	56.32	56.16
Weighted Average Exercise Price per option, Awards expired	39.86	55.24	47.51
Weighted Average Exercise Price per option, Ending Balance	48.04	46.16	43.67
Weighted average grant date fair value for Options	$ 13.67	$ 9.21	$ 7.97
Restricted Shares [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restricted Shares, Beginning Balance	482,466	500,234	524,953
Restricted Shares, Awards granted	174,112	176,457	246,731
Restricted share grants vested	(127,174)	(175,344)	(253,816)
Restricted Shares, Awards forfeited	(5,970)	(6,735)	(17,634)
Restricted Shares, Awards Expired	0	0	0
Restricted Shares, Ending Balance	522,150	482,466	500,234
Weighted Average Fair Value per Restricted Share, Beginning Balance	$ 56.89	$ 55.79	$ 46.81
Weighted Average Fair Value per Restricted Share, Awards granted	79.65	56.56	55.37
Weighted Average Fair Value per Restricted Share, Awards exercised/vested	60.21	53.44	36.81
Weighted Average Fair Value per Restricted Share, Awards forfeited	62.11	56.57	55.74
Weighted Average Fair Value per Restricted Share, Awards Expired	0	0	0
Weighted Average Fair Value per Restricted Share, Ending Balance	$ 63.67	$ 56.89	$ 55.79
Conversion of restricted shares to restricted units	(1,284)	(12,146)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value	$ 10.2	$ 10.2	$ 13.9
Restricted Stock Units (RSUs) [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restricted Units, Beginning Balance	623,948	471,256	285,034
Restricted Units, Awards Granted	337,505	201,507	281,931
Restricted Units, Awards exercised/vested	(72,003)	(60,294)	(93,335)
Restricted Units, Awards forfeited	(2,009)	(667)	(2,374)
Restricted Units, Awards Expired	0	0	0
Conversion of restricted shares to restricted units	1,284	12,146
Restricted Units, Ending Balance	888,725	623,948	471,256
Weighted Average Fair Value per Restricted Unit, Beginning Balance	$ 53.38	$ 55.67	$ 48.41
Weighted Average Fair Value per Restricted Unit, Awards granted	81.87	53.82	52.73
Weighted Average Fair Value per Restricted Unit, Awards exercised/vested	57.12	53.71	32.97
Weighted Average Fair Value per Restricted Unit, Awards forfeited	64.39	52.08	56.72
Weighted Average Fair Value per Restricted Unit, Awards Expired	0	0	0
Weighted Average Fair Value per Restricted Unit, Ending Balance	$ 63.91	$ 53.38	$ 55.67
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value	$ 5.8	$ 3.4	$ 5.1

Options Outstanding and Exercis

Options Outstanding and Exercisable - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Information regarding options outstanding and exercisable
Options Outstanding, Options	5,734,365
Options Outstanding, Weighted Average Remaining Contractual Life in Years	5 years 2 months 9 days
Options Outstanding, Weighted Average Exercise Price	$ 48.04
Options Exercisable, Options	4,436,990
Options Exercisable, Weighted Average Exercise Price	$ 45.11
Options, Vested and expected to vest	5,696,241
Options, Weighted Average Remaining Contractual Life in Years	5 years 25 days
Options, Weighted Average Exercise Price	$ 47.96
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	$ 81.01
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	$ 191.6
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 161.9
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	$ 81.59
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number		5,011,784	6,046,489
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price		$ 42.18	$ 38.76
Exercise Price Range One [Member]
Information regarding options outstanding and exercisable
Options Outstanding, Options	865,289
Options Outstanding, Weighted Average Remaining Contractual Life in Years	3 years 1 month 7 days
Options Outstanding, Weighted Average Exercise Price	$ 23.07
Options Exercisable, Options	865,289
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
Options Outstanding, Options	634,733
Options Outstanding, Weighted Average Remaining Contractual Life in Years	4 years 1 month 7 days
Options Outstanding, Weighted Average Exercise Price	$ 32.97
Options Exercisable, Options	634,733
Options Exercisable, Weighted Average Exercise Price	$ 32.97
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	$ 37.39
Exercise Price Range Three [Member]
Information regarding options outstanding and exercisable
Options Outstanding, Options	446,345
Options Outstanding, Weighted Average Remaining Contractual Life in Years	1 year 2 months 3 days
Options Outstanding, Weighted Average Exercise Price	$ 40.53
Options Exercisable, Options	446,345
Options Exercisable, Weighted Average Exercise Price	$ 40.53
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 Four [Member]
Information regarding options outstanding and exercisable
Options Outstanding, Options	2,056
Options Outstanding, Weighted Average Remaining Contractual Life in Years	4 years 10 months
Options Outstanding, Weighted Average Exercise Price	$ 48.63
Options Exercisable, Options	2,056
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 Five [Member]
Information regarding options outstanding and exercisable
Options Outstanding, Options	1,969,539
Options Outstanding, Weighted Average Remaining Contractual Life in Years	5 years 7 months
Options Outstanding, Weighted Average Exercise Price	$ 53.96
Options Exercisable, Options	1,278,111
Options Exercisable, Weighted Average Exercise Price	$ 54.06
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 Six [Member]
Information regarding options outstanding and exercisable
Options Outstanding, Options	1,648,650
Options Outstanding, Weighted Average Remaining Contractual Life in Years	6 years 11 months 2 days
Options Outstanding, Weighted Average Exercise Price	$ 58.65
Options Exercisable, Options	1,209,674
Options Exercisable, Weighted Average Exercise Price	$ 59.44
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
Exercise Price Range Seven [Member]
Information regarding options outstanding and exercisable
Options Outstanding, Options	2,353
Options Outstanding, Weighted Average Remaining Contractual Life in Years	9 years 5 months 26 days
Options Outstanding, Weighted Average Exercise Price	$ 71.35
Options Exercisable, Options	0
Options Exercisable, Weighted Average Exercise Price	$ 0
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	68.56
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 74.78
Exercise Price Range Eight [Member]
Information regarding options outstanding and exercisable
Options Outstanding, Options	165,400
Options Outstanding, Weighted Average Remaining Contractual Life in Years	9 years 1 month 8 days
Options Outstanding, Weighted Average Exercise Price	$ 80.27
Options Exercisable, Options	782
Options Exercisable, Weighted Average Exercise Price	$ 80.27
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	74.79
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 81.01

Employee Plans (Details)

Employee Plans (Details)	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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	2,970,072
Purchase price of common stock	85.00%
Summary of information regarding the Common Shares issued under the ESPP
Shares issued	68,462	68,807	73,468
Employee Share Purchase Plan Issuance Price Minimum | $ / shares	$ 63.70	$ 45.90	$ 44.26
Employee Share Purchase Plan Issuance Price Maximum | $ / shares	$ 65.90	$ 55.95	$ 48.17
Issuance proceeds | $	$ 4,404,000	$ 3,392,000	$ 3,401,000
Maximum 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 | $	$ 5,500,000	$ 5,200,000	$ 4,200,000
Share-based Compensation Arrangements by Share-based Payment Award, Award Type and Plan Name [Domain]
Summary of information regarding the Common Shares issued under the ESPP
Maximum eligible compensation percentage for the defined contribution plan (the 401(k) Plan)	3.00%

Distribution Reinvestment and81

Distribution Reinvestment and Share Purchase Plan (Details)	Dec. 31, 2015shares
Common Shares registered with Distribution Reinvestment and Share Purchase Plan (2011 DRIP)	4,850,000
Number of shares available for issuance	4,775,789
Distribution Reinvestment Plan 2014 [Member]
Common Shares registered with Distribution Reinvestment and Share Purchase Plan (2011 DRIP)	4,790,000

Transactions With Related Par82

Transactions With Related Parties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Indirect Ownership Interest Percentage	1.00%
Amount Incurred For leased office space	$ 2.6	$ 2.5	$ 1.7

Commitments and Contingencies83

Commitments and Contingencies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Loss Contingency Accrual, Period Increase (Decrease)	$ 3,000
Loss Contingency Accrual	$ 3,000
Projects in various stages of development	10
Units in various stages of development	3,989
Consolidated Project Under Development Commitment Fund	$ 762,300
Various stages of development with estimated completion dates ranging through September 30, 2017	Sep. 30, 2017
Number Of Operating Properties and Land Parcels Under Long Term Ground Leases	12
Total operating lease payments	$ 17,800	$ 14,700	$ 13,200
Compensation expense, Recognized	400	$ 500	$ 500
Operating Leases:
Minimum Rent Payments Due, Year 1	(15,723)
Minimum Rent Payments Due, Year 2	(15,721)
Minimum Rent Payments Due, Year 3	(15,712)
Minimum Rent Payments Due, Year 4	(15,567)
Minimum Rent Payments Due, Year 5	(15,158)
Minimum Rent Payments Due, Thereafter	(839,521)
Minimum Rent Payments Due, Total	(917,402)
Operating Leases, Future Minimum Payments Receivable, Current	70,360
Operating Leases, Future Minimum Payments Receivable, in Two Years	56,759
Operating Leases, Future Minimum Payments Receivable, in Three Years	50,134
Operating Leases, Future Minimum Payments Receivable, in Four Years	45,956
Operating Leases, Future Minimum Payments Receivable, in Five Years	42,050
Operating Leases, Future Minimum Payments Receivable, Thereafter	210,149
Operating Leases, Future Minimum Payments Receivable	475,408
Other Long-Term Liabilities:
Deferred Compensation Due, Year 1	(1,387)
Deferred Compensation Due, Year 2	(1,724)
Deferred Compensation Due, Year 3	(1,724)
Deferred Compensation Due, Year 4	(1,130)
Deferred Compensation Due, Year 5	(1,080)
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter	(4,797)
Deferred Compensation Due, Total	$ (11,842)
Unconsolidated Properties [Member]
Number Of Unconsolidated Projects	2

Reportable Segments (Details)

Reportable Segments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Reconciliation of NOI
Rental income	$ 2,736,578	$ 2,605,311	$ 2,378,004
Property and maintenance expense	(479,160)	(473,098)	(449,427)
Real estate taxes and insurance expense	(339,802)	(325,401)	(293,999)
Property management expense	(81,185)	(79,636)	(84,342)
Total operating expenses	(900,147)	(878,135)	(827,768)
Rental income:
Rental Income - same store	2,566,705	2,441,390	2,374,350
Rental Income - non-same store	169,873	163,921	96,077
Rental Income	2,736,578	2,605,311	2,378,004
Operating expenses:
Operating Expenses - same store	837,880	817,337	815,865
Operating Expenses - non-same store	62,267	60,798	48,632
Operating Expenses	900,147	878,135	827,768
NOI:
NOI - same store	1,728,825	1,624,053	1,558,485
NOI - non-same store	107,606	103,123	47,445
NOI	$ 1,836,431	$ 1,727,176	1,550,236
Units in same store properties	96,286	97,911
Total Assets	$ 23,157,328	$ 22,950,614
Capital Expenditures	182,113	185,957
Same store (1)
NOI:
Total Assets	18,970,703	19,431,953
Capital Expenditures	173,414	178,960
Non-same store/other (2) (3)
NOI:
Total Assets	4,186,625	3,518,661
Capital Expenditures	8,699	6,997
Archstone pre-ownership (4)
Rental income:
Rental Income	0	0	(92,423)
Operating expenses:
Operating Expenses	0	0	(36,729)
NOI:
NOI	0	$ 0	(55,694)
Archstone Transaction [Member]
NOI:
Units in same store properties		18,465
Boston | Same store (1)
Rental income:
Rental Income - same store	252,620	$ 244,612	244,370
Operating expenses:
Operating Expenses - same store	81,176	77,408	78,249
NOI:
NOI - same store	171,444	167,204	166,121
Total Assets	1,840,812	1,897,740
Capital Expenditures	18,759	19,254
Boston | Non-same store/other (2) (3)
Rental income:
Rental Income - non-same store	9,028	3,637	2,728
Operating expenses:
Operating Expenses - non-same store	2,570	841	651
NOI:
NOI - non-same store	6,458	2,796	2,077
Total Assets	171,832	48,323
Capital Expenditures	629	699
New York | Same store (1)
Rental income:
Rental Income - same store	474,850	455,598	438,366
Operating expenses:
Operating Expenses - same store	176,654	170,549	165,329
NOI:
NOI - same store	298,196	285,049	273,037
Total Assets	4,585,328	4,647,269
Capital Expenditures	19,273	22,118
New York | Non-same store/other (2) (3)
Rental income:
Rental Income - non-same store	9,835	42	0
Operating expenses:
Operating Expenses - non-same store	7,460	92	0
NOI:
NOI - non-same store	2,375	(50)	0
Total Assets	364,475	356,064
Capital Expenditures	(8)	12
San Francisco | Same store (1)
Rental income:
Rental Income - same store	376,073	340,252	312,345
Operating expenses:
Operating Expenses - same store	108,003	106,425	108,218
NOI:
NOI - same store	268,070	233,827	204,127
Total Assets	2,653,629	2,718,174
Capital Expenditures	25,813	26,994
San Francisco | Non-same store/other (2) (3)
Rental income:
Rental Income - non-same store	6,408	15	0
Operating expenses:
Operating Expenses - non-same store	2,974	147	0
NOI:
NOI - non-same store	3,434	(132)	0
Total Assets	262,851	218,415
Capital Expenditures	6	0
Seattle | Same store (1)
Rental income:
Rental Income - same store	164,319	153,197	146,109
Operating expenses:
Operating Expenses - same store	50,079	50,377	49,169
NOI:
NOI - same store	114,240	102,820	96,940
Total Assets	1,058,090	1,087,575
Capital Expenditures	13,565	14,333
Seattle | Non-same store/other (2) (3)
Rental income:
Rental Income - non-same store	22,199	6,951	4,387
Operating expenses:
Operating Expenses - non-same store	6,478	2,172	1,336
NOI:
NOI - non-same store	15,721	4,779	3,051
Total Assets	453,111	335,086
Capital Expenditures	457	918
Southern California | Same store (1)
Rental income:
Rental Income - same store	433,431	410,094	401,516
Operating expenses:
Operating Expenses - same store	136,559	135,091	137,667
NOI:
NOI - same store	296,872	275,003	263,849
Total Assets	2,725,230	2,809,390
Capital Expenditures	29,729	26,713
Southern California | Non-same store/other (2) (3)
Rental income:
Rental Income - non-same store	71,719	49,663	15,016
Operating expenses:
Operating Expenses - non-same store	26,264	19,518	6,846
NOI:
NOI - non-same store	45,455	30,145	8,170
Total Assets	911,728	851,812
Capital Expenditures	6,360	1,968
Washington D.C. | Same store (1)
Rental income:
Rental Income - same store	455,341	451,973	448,520
Operating expenses:
Operating Expenses - same store	149,190	145,523	140,708
NOI:
NOI - same store	306,151	306,450	307,812
Total Assets	4,169,317	4,282,317
Capital Expenditures	35,522	44,607
Washington D.C. | Non-same store/other (2) (3)
Rental income:
Rental Income - non-same store	21,822	17,927	13,562
Operating expenses:
Operating Expenses - non-same store	6,313	6,115	4,086
NOI:
NOI - non-same store	15,509	11,812	9,476
Total Assets	235,841	243,174
Capital Expenditures	677	467
Non-core – South Florida | Same store (1)
Rental income:
Rental Income - same store	202,714	191,729	182,620
Operating expenses:
Operating Expenses - same store	72,792	70,295	69,475
NOI:
NOI - same store	129,922	121,434	113,145
Total Assets	1,109,699	1,135,553
Capital Expenditures	16,297	14,335
Non-core – South Florida | Non-same store/other (2) (3)
Rental income:
Rental Income - non-same store	7,912	5,480	390
Operating expenses:
Operating Expenses - non-same store	2,830	2,619	810
NOI:
NOI - non-same store	5,082	2,861	(420)
Total Assets	64,854	67,834
Capital Expenditures	42	8
Non-core – Denver | Same store (1)
Rental income:
Rental Income - same store	120,938	111,190	103,124
Operating expenses:
Operating Expenses - same store	31,708	30,811	30,567
NOI:
NOI - same store	89,230	80,379	72,557
Total Assets	506,317	520,537
Capital Expenditures	8,341	5,863
Non-core – other | Same store (1)
Rental income:
Rental Income - same store	86,419	82,745	97,380
Operating expenses:
Operating Expenses - same store	31,719	30,858	36,483
NOI:
NOI - same store	54,700	51,887	60,897
Total Assets	322,281	333,398
Capital Expenditures	6,115	4,743
Other (3) | Non-same store/other (2) (3)
Rental income:
Rental Income - non-same store	20,950	80,206	59,994
Operating expenses:
Operating Expenses - non-same store	7,378	29,294	34,903
NOI:
NOI - non-same store	13,572	50,912	$ 25,091
Total Assets	1,721,933	1,397,953
Capital Expenditures	$ 536	$ 2,925

Subsequent Events_Other (Detail

Subsequent Events/Other (Details)	2 Months Ended	12 Months Ended				36 Months Ended
	Feb. 19, 2016USD ($)	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2013USD ($)	Dec. 31, 2011USD ($)	Dec. 31, 2013USD ($)
Subsequent Event [Line Items]
Disposed Properties | property		8	11
Disposed Units		1,857	3,480
Proceeds From Sale Of Property		$ 513,312,000	$ 592,070,000
Prepayment penalty charges			300,000
Repayments Of Mortgage Notes Payable		9,275,000	11,869,000	$ 12,658,000
Repayments of Notes Payable		300,000,000	1,250,000,000	400,000,000
Business Combination, Acquisition Related Costs		1,000,000	400,000	300,000
Noncash Project Abandonment Costs		3,208,000	3,607,000	5,184,000
Other Expenses		4,200,000	4,000,000	5,500,000
Litigation Settlement, Amount		$ 6,000,000	$ 2,800,000
Disposal Group Corporate Housing Business Sale					$ 4,000,000
Seller Provided Financing					$ 2,000,000
Proceeds Received From Seller Provided Finanacing				1,500,000
Discontinued Operation Corporate Housing Business Gain Loss On Disposal Of Discontinued Operation Net Of Tax						$ 2,900,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Disposed Properties	6
Disposed Units	766
Proceeds From Sale Of Property	$ 162,700,000
Disposed Land Parcels	1
Dividends	$ 8
Starwood Portfolio [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Disposed Properties	72
Disposed Units	23,262
Proceeds From Sale Of Property	$ 5,365,000,000
Repayments of Debt	1,700,000,000
Prepayment penalty charges	$ 112,400,000
River Tower [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Disposed Units	323
Proceeds From Sale Of Property	$ 390,000,000
Woodland Park [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Disposed Units	1,811
Proceeds From Sale Of Property	$ 412,500,000
6.256% [Domain] | Starwood Portfolio [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Prepayment penalty charges	29,300,000
Repayments Of Mortgage Notes Payable	$ 440,800,000
Debt Instrument, Interest Rate, Stated Percentage	6.256%
Tax-exempt notes [Domain] | Starwood Portfolio [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Prepayment penalty charges	$ 200,000
Repayments of Notes Payable	41,800,000
5.125% [Domain] | Starwood Portfolio [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Prepayment penalty charges	$ 1,400,000
Debt Instrument, Interest Rate, Stated Percentage	5.125%
Repayments of Notes Payable	$ 228,900,000
5.375% [Domain] | Starwood Portfolio [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Prepayment penalty charges	$ 9,500,000
Debt Instrument, Interest Rate, Stated Percentage	5.375%
Repayments of Notes Payable	$ 400,000,000
5.750% [Domain] | Starwood Portfolio [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Prepayment penalty charges	$ 16,500,000
Debt Instrument, Interest Rate, Stated Percentage	5.75%
Repayments of Notes Payable	$ 255,900,000
7.125% [Domain] | Starwood Portfolio [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Prepayment penalty charges	$ 4,600,000
Debt Instrument, Interest Rate, Stated Percentage	7.125%
Repayments of Notes Payable	$ 46,100,000
4.625% [Domain] | Starwood Portfolio [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Prepayment penalty charges	$ 31,600,000
Debt Instrument, Interest Rate, Stated Percentage	4.625%
Repayments of Notes Payable	$ 250,000,000
7.570% [Domain] | Starwood Portfolio [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Prepayment penalty charges	$ 19,300,000
Debt Instrument, Interest Rate, Stated Percentage	7.57%
Repayments of Notes Payable	$ 48,000,000
Available-for-sale Securities [Member]
Subsequent Event [Line Items]
(Gains) on Sale of Securities, Net				$ 2,100,000

Quarterly Financial Data (Una86

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Unaudited Quarterly Financial Data [Line Items]
Revenues									$ 2,744,965	$ 2,614,748	$ 2,387,702
Operating income									1,008,820	921,375	512,322
Income (loss) from continuing operations									907,621	657,101	(168,174)
Discontinued operations, net									397	1,582	2,073,527
Net income									908,018	658,683	1,905,353
Net income available to Common Shares									$ 863,277	$ 627,163	$ 1,826,468
Earnings Per Share, Basic [Abstract]
Net income available to Common Shares									$ 2.37	$ 1.74	$ 5.16
Weighted average Common Shares outstanding									363,498	361,181	354,305
Earnings Per Share, Diluted [Abstract]
Net income available to Common Shares									$ 2.36	$ 1.73	$ 5.16
Weighted average Common Shares outstanding									380,620	377,735	354,305
Scenario, Previously Reported [Member]
Unaudited Quarterly Financial Data [Line Items]
Revenues	$ 703,193	$ 696,289	$ 679,112	$ 666,371	$ 664,660	$ 664,078	$ 652,568	$ 633,442
Operating income	286,964	257,501	246,184	218,171	250,532	243,274	228,310	199,259
Income (loss) from continuing operations	213,673	205,375	298,504	190,069	226,959	231,252	117,210	81,680
Discontinued operations, net	47	81	114	155	82	(62)	510	1,052
Net income	213,720	205,456	298,618	190,224	227,041	231,190	117,720	82,732
Net income available to Common Shares	$ 202,989	$ 195,859	$ 285,587	$ 178,842	$ 216,703	$ 220,707	$ 111,654	$ 78,099
Earnings Per Share, Basic [Abstract]
Net income available to Common Shares	$ 0.56	$ 0.54	$ 0.79	$ 0.49	$ 0.60	$ 0.61	$ 0.31	$ 0.22
Weighted average Common Shares outstanding	363,828	363,579	363,476	363,098	362,018	361,409	360,809	360,470
Earnings Per Share, Diluted [Abstract]
Net income available to Common Shares	$ 0.55	$ 0.53	$ 0.78	$ 0.49	$ 0.59	$ 0.61	$ 0.31	$ 0.22
Weighted average Common Shares outstanding	381,220	380,663	380,491	380,327	378,886	377,954	377,118	376,384
ERPOP [Member]
Unaudited Quarterly Financial Data [Line Items]
Revenues									$ 2,744,965	$ 2,614,748	$ 2,387,702
Operating income									1,008,820	921,375	512,322
Income (loss) from continuing operations									907,621	657,101	(168,174)
Discontinued operations, net									397	1,582	2,073,527
Net income									908,018	658,683	1,905,353
Net income available to Units									$ 897,518	$ 651,994	$ 1,901,746
Earnings Per Share, Basic [Abstract]
Net income available to Common Shares									$ 2.37	$ 1.74	$ 5.16
Weighted average Units outstanding									377,074	374,899	368,038
Earnings Per Share, Diluted [Abstract]
Net income available to Common Shares									$ 2.36	$ 1.73	$ 5.16
Weighted average Common Shares outstanding									380,620	377,735	368,038
ERPOP [Member] | Scenario, Previously Reported [Member]
Unaudited Quarterly Financial Data [Line Items]
Revenues	$ 703,193	$ 696,289	$ 679,112	$ 666,371	$ 664,660	$ 664,078	$ 652,568	$ 633,442
Operating income	286,964	257,501	246,184	218,171	250,532	243,274	228,310	199,259
Income (loss) from continuing operations	213,673	205,375	298,504	190,069	226,959	231,252	117,210	81,680
Discontinued operations, net	47	81	114	155	82	(62)	510	1,052
Net income	213,720	205,456	298,618	190,224	227,041	231,190	117,720	82,732
Net income available to Units	$ 211,039	$ 203,637	$ 296,941	$ 185,901	$ 225,261	$ 229,445	$ 116,096	$ 81,192
Earnings Per Share, Basic [Abstract]
Net income available to Common Shares	$ 0.56	$ 0.54	$ 0.79	$ 0.49	$ 0.60	$ 0.61	$ 0.31	$ 0.22
Weighted average Units outstanding	377,380	377,147	377,063	376,696	375,711	375,116	374,551	374,201
Earnings Per Share, Diluted [Abstract]
Net income available to Common Shares	$ 0.55	$ 0.53	$ 0.78	$ 0.49	$ 0.59	$ 0.61	$ 0.31	$ 0.22
Weighted average Units outstanding	381,220	380,663	380,491	380,327	378,886	377,954	377,118	376,384

Real Estate and Accumulated D87

Real Estate and Accumulated Depreciation - Overall Summary and Encumbrances Reconciliation (Details)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Number of Units in Real Estate Property				109,652
Overall summary of real estate and accumulated depreciation
Accumulated Depreciation	$ (5,432,805,000)	$ (4,807,709,000)	$ (4,912,221,000)	$ (6,084,616,000)
Changes in total real estate
Balance, beginning of year	27,675,383,000	26,800,948,000	21,008,429,000
Acquisitions and development	964,645,000	1,121,423,000	9,273,492,000
Improvements	186,104,000	191,243,000	139,950,000
Dispositions and other	(283,435,000)	(438,231,000)	(3,620,923,000)
Balance, end of year	28,542,697,000	27,675,383,000	26,800,948,000
Changes in accumulated depreciation
Balance, beginning of year	(5,432,805,000)	(4,807,709,000)	(4,912,221,000)
Depreciation	765,895,000	758,861,000	1,013,353,000
Dispositions and other	(114,084,000)	(133,765,000)	(1,117,865,000)
Balance, end of year	(6,084,616,000)	$ (5,432,805,000)	$ (4,807,709,000)
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				4
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				10
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				$ 462,400,525
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				$ 24,223,525
Fannie Mae Pool 3 [Domain] | Wholly Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				438,177,000
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
Portfolio Entity Encumbrances [Member]
Real Estate and Accumulated Depreciation Encumbrances Reconciliation [Abstract]
Number of Properties Encumbered				32
Individual Property Encumbrances [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				$ 2,451,484,639
Individual Property Encumbrances [Member] | Partially Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				319,205,053
Individual Property Encumbrances [Member] | Wholly Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				2,132,279,586
Real Estate Held For Sale-Individual Property Encumbrances [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				140,985,116
Real Estate Held For Sale-Individual Property Encumbrances [Member] | Partially Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				0
Real Estate Held For Sale-Individual Property Encumbrances [Member] | Wholly Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				$ 140,985,116
Investment in Real Estate - Wholly Owned Unencumbered [Member]
Overall summary of real estate and accumulated depreciation
Properties				211
Units				52,513
Investment in Real Estate, Gross				$ 17,437,812,582
Accumulated Depreciation	(3,224,397,212)			(3,224,397,212)
Investment in Real Estate Net				14,213,415,370
Encumbrances				$ 0
Changes in accumulated depreciation
Balance, end of year	(3,224,397,212)
Investment in Real Estate - Wholly Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Properties				87
Units				23,686
Investment in Real Estate, Gross				$ 7,054,964,658
Accumulated Depreciation	(1,464,311,726)			(1,464,311,726)
Investment in Real Estate Net				5,590,652,932
Encumbrances				$ 4,220,456,586
Changes in accumulated depreciation
Balance, end of year	(1,464,311,726)
Investment in Real Estate - Wholly Owned Properties [Member]
Overall summary of real estate and accumulated depreciation
Properties				298
Units				76,199
Investment in Real Estate, Gross				$ 24,492,777,240
Accumulated Depreciation	(4,688,708,938)			(4,688,708,938)
Investment in Real Estate Net				19,804,068,302
Encumbrances				$ 4,220,456,586
Changes in accumulated depreciation
Balance, end of year	(4,688,708,938)
Investment in Real Estate - Partially Owned Unencumbered [Member]
Overall summary of real estate and accumulated depreciation
Properties				9
Units				1,661
Investment in Real Estate, Gross				$ 262,146,372
Accumulated Depreciation	(96,031,075)			(96,031,075)
Investment in Real Estate Net				166,115,297
Encumbrances				$ 0
Changes in accumulated depreciation
Balance, end of year	(96,031,075)
Investment in Real Estate - Partially Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Properties				10
Units				2,110
Investment in Real Estate, Gross				$ 427,427,967
Accumulated Depreciation	(120,665,999)			(120,665,999)
Investment in Real Estate Net				306,761,968
Encumbrances				$ 343,428,578
Changes in accumulated depreciation
Balance, end of year	(120,665,999)
NONCONTROLLING INTERESTS – PARTIALLY OWNED PROPERTIES
Overall summary of real estate and accumulated depreciation
Properties				19
Units				3,771
Investment in Real Estate, Gross				$ 689,574,339
Accumulated Depreciation	(216,697,074)			(216,697,074)
Investment in Real Estate Net				472,877,265
Encumbrances				$ 343,428,578
Changes in accumulated depreciation
Balance, end of year	(216,697,074)
Total Consolidated Investment in Real Estate [Member]
Overall summary of real estate and accumulated depreciation
Properties				317
Units				79,970
Investment in Real Estate, Gross				$ 25,182,351,579
Accumulated Depreciation	(4,905,406,012)			(4,905,406,012)
Investment in Real Estate Net				20,276,945,567
Encumbrances				4,563,885,164
Changes in accumulated depreciation
Balance, end of year	(4,905,406,012)
Total Consolidated Investment in Real Estate [Member] | Partially Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				343,428,578
Total Consolidated Investment in Real Estate [Member] | Wholly Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				$ 4,220,456,586
Real Estate Held For Sale - Wholly Owned Unencumbered [Member]
Overall summary of real estate and accumulated depreciation
Properties				68
Units				21,494
Investment in Real Estate, Gross				$ 3,118,799,507
Accumulated Depreciation	(1,075,431,644)			(1,075,431,644)
Investment in Real Estate Net				2,043,367,863
Encumbrances				$ 0
Changes in accumulated depreciation
Balance, end of year	(1,075,431,644)
Real Estate Held For Sale - Wholly Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Properties				4
Units				1,768
Investment in Real Estate, Gross				$ 241,545,360
Accumulated Depreciation	(103,778,656)			(103,778,656)
Investment in Real Estate Net				137,766,704
Encumbrances				$ 140,985,116
Changes in accumulated depreciation
Balance, end of year	(103,778,656)
Total Real Estate Held For Sale [Member]
Overall summary of real estate and accumulated depreciation
Properties				72
Units				23,262
Investment in Real Estate, Gross				$ 3,360,344,867
Accumulated Depreciation	(1,179,210,300)			(1,179,210,300)
Investment in Real Estate Net				2,181,134,567
Encumbrances				$ 140,985,116
Changes in accumulated depreciation
Balance, end of year	(1,179,210,300)
Unencumbered Properties [Member]
Overall summary of real estate and accumulated depreciation
Properties				288
Units				75,668
Investment in Real Estate, Gross				$ 20,818,758,461
Accumulated Depreciation	(4,395,859,931)			(4,395,859,931)
Investment in Real Estate Net				16,422,898,530
Encumbrances				$ 0
Changes in accumulated depreciation
Balance, end of year	(4,395,859,931)
Encumbered Properties [Member]
Overall summary of real estate and accumulated depreciation
Properties				101
Units				27,564
Investment in Real Estate, Gross				$ 7,723,937,985
Accumulated Depreciation	(1,688,756,381)			(1,688,756,381)
Investment in Real Estate Net				6,035,181,604
Encumbrances				$ 4,704,870,280
Changes in accumulated depreciation
Balance, end of year	(1,688,756,381)
Total Investment in Real Estate and Real Estate Held For Sale [Member]
Overall summary of real estate and accumulated depreciation
Properties				389
Units				103,232
Investment in Real Estate, Gross				$ 28,542,696,446
Accumulated Depreciation	(6,084,616,312)			(6,084,616,312)
Investment in Real Estate Net				22,458,080,134
Encumbrances				4,704,870,280
Changes in accumulated depreciation
Balance, end of year	$ (6,084,616,312)
Total Investment in Real Estate and Real Estate Held For Sale [Member] | Partially Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				343,428,578
Total Investment in Real Estate and Real Estate Held For Sale [Member] | Wholly Owned Encumbered [Member]
Overall summary of real estate and accumulated depreciation
Encumbrances				$ 4,361,441,702

Real Estate and Accumulated D88

Real Estate and Accumulated Depreciation (Details)		12 Months Ended
		Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Furniture, fixtures and equipment		$ 1,207,098,000	$ 1,365,276,000
Land And Depreciable Property Net		17,000,000,000	16,700,000,000
Real Estates And Accumulated Depreciation Abstract
Accumulated Depreciation		$ (6,084,616,000)	$ (5,432,805,000)	$ (4,807,709,000)	$ (4,912,221,000)
Partially Owned Properties		394
Number of Units in Real Estate Property		109,652
Partially Owned Unconsolidated Units		1,281
Military Housing Properties		2
Military Housing Units		5,139
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		3,409,415
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		15,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		3,409,415
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		19,009,415
Accumulated Depreciation		0
Investment in Real Estate Net		19,009,415
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		236
Initial Cost to Company, Land		$ 0
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		111,609,104
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		3,648
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		111,612,752
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		111,612,752
Accumulated Depreciation		(2,550,383)
Investment in Real Estate Net		109,062,369
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		1,187,580
Gross Amount Carried at close of period 12/31/2015, Land		22,037,831
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		55,149,749
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		77,187,580
Accumulated Depreciation		(10,449,629)
Investment in Real Estate Net		66,737,951
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		1,964,453
Gross Amount Carried at close of period 12/31/2015, Land		32,400,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		94,639,681
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		127,039,681
Accumulated Depreciation		(13,281,633)
Investment in Real Estate Net		113,758,048
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		92,822,313
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		109,202
Gross Amount Carried at close of period 12/31/2015, Land		18,937,702
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		92,931,515
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		111,869,217
Accumulated Depreciation		(8,083,006)
Investment in Real Estate Net		103,786,211
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		1,158,827
Gross Amount Carried at close of period 12/31/2015, Land		9,213,512
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		37,718,016
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		46,931,528
Accumulated Depreciation		(14,010,670)
Investment in Real Estate Net		32,920,858
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		$ 10,394,673
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		2,735,646
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		10,394,673
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		2,735,646
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		13,130,319
Accumulated Depreciation		0
Investment in Real Estate Net		13,130,319
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		13,920,874
Gross Amount Carried at close of period 12/31/2015, Land		54,638,298
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		54,282,576
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		108,920,874
Accumulated Depreciation		(18,412,591)
Investment in Real Estate Net		90,508,283
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		2,461,258
Gross Amount Carried at close of period 12/31/2015, Land		31,400,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		111,466,992
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		142,866,992
Accumulated Depreciation		(15,629,471)
Investment in Real Estate Net		127,237,521
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		3,722,655
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		5,865,235
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		3,722,655
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		9,587,890
Accumulated Depreciation		0
Investment in Real Estate Net		9,587,890
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		$ 22,323,720
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		73,357,643
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		22,323,720
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		73,357,643
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		95,681,363
Accumulated Depreciation		0
Investment in Real Estate Net		95,681,363
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		49,674,175
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		2,036,904
Gross Amount Carried at close of period 12/31/2015, Land		11,321,198
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		51,711,079
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		63,032,277
Accumulated Depreciation		(7,033,954)
Investment in Real Estate Net		55,998,323
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		1,495,753
Gross Amount Carried at close of period 12/31/2015, Land		21,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		80,220,416
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		102,120,416
Accumulated Depreciation		(11,064,780)
Investment in Real Estate Net		91,055,636
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		3,650,345
Gross Amount Carried at close of period 12/31/2015, Land		30,006,593
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		117,664,130
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		147,670,723
Accumulated Depreciation		(41,374,875)
Investment in Real Estate Net		106,295,848
Encumbrances		$ 0
315 on A [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Boston, MA
Real Estate And Accumulated Depreciation Units		202
Initial Cost to Company, Land		$ 14,450,070
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		115,824,930
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		169,215
Gross Amount Carried at close of period 12/31/2015, Land		14,450,070
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		115,994,145
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		130,444,215
Accumulated Depreciation		(6,171,735)
Investment in Real Estate Net		124,272,480
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		176,850,680
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		42,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		176,850,680
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		218,850,680
Accumulated Depreciation		0
Investment in Real Estate Net		218,850,680
Encumbrances		$ 0
45 Worthington [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Boston, MA
Real Estate And Accumulated Depreciation Units		0
Initial Cost to Company, Land		$ 0
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		1,648,869
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		1,648,869
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		1,648,869
Accumulated Depreciation		0
Investment in Real Estate Net		1,648,869
Encumbrances		$ 0
Four Hundred And Twenty East Eightieth 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		4,002,776
Gross Amount Carried at close of period 12/31/2015, Land		39,277,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		27,029,760
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		66,306,760
Accumulated Depreciation		(11,554,868)
Investment in Real Estate Net		54,751,892
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		3,574,977
Gross Amount Carried at close of period 12/31/2015, Land		28,150,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		142,174,977
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		170,324,977
Accumulated Depreciation		(34,957,838)
Investment in Real Estate Net		135,367,139
Encumbrances		$ 0
455 I 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		$ 12,762,857
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		16,214,611
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		12,762,857
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		16,214,611
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		28,977,468
Accumulated Depreciation		0
Investment in Real Estate Net		28,977,468
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		875,185
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		875,185
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		875,185
Accumulated Depreciation		0
Investment in Real Estate Net		875,185
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		5,642,930
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		13,131,456
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		5,642,930
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		18,774,386
Accumulated Depreciation		0
Investment in Real Estate Net		18,774,386
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		580,906
Gross Amount Carried at close of period 12/31/2015, Land		32,852,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		43,721,457
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		76,573,457
Accumulated Depreciation		(16,469,799)
Investment in Real Estate Net		60,103,658
Encumbrances		$ 0
660 Washington [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		1,378,724
Gross Amount Carried at close of period 12/31/2015, Land		106,100,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		167,690,403
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		273,790,403
Accumulated Depreciation		(23,978,444)
Investment in Real Estate Net		249,811,959
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		236,763,553
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		838,875
Gross Amount Carried at close of period 12/31/2015, Land		28,108,899
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		237,602,428
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		265,711,327
Accumulated Depreciation		(50,058,634)
Investment in Real Estate Net		215,652,693
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		12,183,139
Gross Amount Carried at close of period 12/31/2015, Land		22,611,600
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		89,675,310
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		112,286,910
Accumulated Depreciation		(35,917,280)
Investment in Real Estate Net		76,369,630
Encumbrances		$ 0
77 Bluxome [Member]
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		175,686
Gross Amount Carried at close of period 12/31/2015, Land		5,249,124
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		18,785,562
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		24,034,686
Accumulated Depreciation		(3,551,433)
Investment in Real Estate Net		20,483,253
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		1,708,867
Gross Amount Carried at close of period 12/31/2015, Land		65,352,706
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		67,456,161
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		132,808,867
Accumulated Depreciation		(22,000,130)
Investment in Real Estate Net		110,808,737
Encumbrances		$ 0
88 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		1,740,889
Gross Amount Carried at close of period 12/31/2015, Land		7,786,800
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		33,328,214
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		41,115,014
Accumulated Depreciation		(5,965,778)
Investment in Real Estate Net		35,149,236
Encumbrances		$ 0
855 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		$ 41,363,921
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		59,118,300
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		41,363,921
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		59,118,300
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		100,482,221
Accumulated Depreciation		0
Investment in Real Estate Net		100,482,221
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		2,707,619
Gross Amount Carried at close of period 12/31/2015, Land		553,105
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		6,405,015
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		6,958,120
Accumulated Depreciation		(4,378,376)
Investment in Real Estate Net		2,579,744
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		646,083
Gross Amount Carried at close of period 12/31/2015, Land		18,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		90,440,284
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		109,340,284
Accumulated Depreciation		(12,554,736)
Investment in Real Estate Net		96,785,548
Encumbrances		$ 0
Altitude [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		110,209,151
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		43,783,485
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		110,209,151
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		153,992,636
Accumulated Depreciation		0
Investment in Real Estate Net		153,992,636
Encumbrances		$ 0
Alton, The [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		64,366,946
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		11,049,027
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		64,366,946
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		75,415,973
Accumulated Depreciation		0
Investment in Real Estate Net		75,415,973
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		2,639,125
Gross Amount Carried at close of period 12/31/2015, Land		9,057,300
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		21,122,767
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		30,180,067
Accumulated Depreciation		(13,158,508)
Investment in Real Estate Net		17,021,559
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		4,207,099
Gross Amount Carried at close of period 12/31/2015, Land		4,685,900
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		15,199,850
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		19,885,750
Accumulated Depreciation		(8,869,308)
Investment in Real Estate Net		11,016,442
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		469,032
Gross Amount Carried at close of period 12/31/2015, Land		8,000,400
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		36,543,632
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		44,544,032
Accumulated Depreciation		(7,896,054)
Investment in Real Estate Net		36,647,978
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		1,771,039
Gross Amount Carried at close of period 12/31/2015, Land		12,300,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		63,237,306
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		75,537,306
Accumulated Depreciation		(9,620,717)
Investment in Real Estate Net		65,916,589
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		1,647,581
Gross Amount Carried at close of period 12/31/2015, Land		7,995,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		19,652,581
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		27,647,581
Accumulated Depreciation		(4,179,196)
Investment in Real Estate Net		23,468,385
Encumbrances		$ 0
Azure [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		San Francisco, CA
Real Estate And Accumulated Depreciation Units		273
Initial Cost to Company, Land		$ 32,855,115
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		150,600,329
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		629
Gross Amount Carried at close of period 12/31/2015, Land		32,855,115
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		150,600,958
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		183,456,073
Accumulated Depreciation		(2,077,524)
Investment in Real Estate Net		181,378,549
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		1,934,347
Gross Amount Carried at close of period 12/31/2015, Land		7,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		29,371,586
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		36,971,586
Accumulated Depreciation		(11,990,933)
Investment in Real Estate Net		24,980,653
Encumbrances		$ 0
Beatrice, The [Member]
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		676,595
Gross Amount Carried at close of period 12/31/2015, Land		114,351,405
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		166,325,190
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		280,676,595
Accumulated Depreciation		(29,116,223)
Investment in Real Estate Net		251,560,372
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 12/31/2015, 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		473,126
Gross Amount Carried at close of period 12/31/2015, Land		9,098,808
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		29,174,318
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		38,273,126
Accumulated Depreciation		(5,588,486)
Investment in Real Estate Net		32,684,640
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		$ 14,108,910
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		11,357,375
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		14,108,910
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		11,357,375
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		25,466,285
Accumulated Depreciation		0
Investment in Real Estate Net		25,466,285
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		961,845
Gross Amount Carried at close of period 12/31/2015, Land		401,091
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		3,643,055
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		4,044,146
Accumulated Depreciation		(2,066,615)
Investment in Real Estate Net		1,977,531
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		73,189,262
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		649,866
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		73,839,128
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		73,839,128
Accumulated Depreciation		(11,205,489)
Investment in Real Estate Net		62,633,639
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		2,633,266
Gross Amount Carried at close of period 12/31/2015, Land		928,972
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		8,843,254
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		9,772,226
Accumulated Depreciation		(4,794,357)
Investment in Real Estate Net		4,977,869
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		3,514,394
Gross Amount Carried at close of period 12/31/2015, Land		9,991,500
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,761,672
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		35,753,172
Accumulated Depreciation		(14,944,409)
Investment in Real Estate Net		20,808,763
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 12/31/2015, 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		1,387,079
Gross Amount Carried at close of period 12/31/2015, Land		40,099,922
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		222,825,710
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		262,925,632
Accumulated Depreciation		(38,804,697)
Investment in Real Estate Net		224,120,935
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		2,123,216
Gross Amount Carried at close of period 12/31/2015, Land		31,200,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		108,171,803
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		139,371,803
Accumulated Depreciation		(15,523,923)
Investment in Real Estate Net		123,847,880
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		7,134,848
Gross Amount Carried at close of period 12/31/2015, Land		10,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		58,502,761
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		68,502,761
Accumulated Depreciation		(26,086,693)
Investment in Real Estate Net		42,416,068
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		43,951,916
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		23,751,564
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		43,951,916
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		67,703,480
Accumulated Depreciation		0
Investment in Real Estate Net		67,703,480
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		8,150,667
Gross Amount Carried at close of period 12/31/2015, Land		9,700,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		78,231,045
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		87,931,045
Accumulated Depreciation		(30,555,738)
Investment in Real Estate Net		57,375,307
Encumbrances		$ 0
Centre Club Combined [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Ontario, CA
Real Estate And Accumulated Depreciation Units		412
Initial Cost to Company, Land		$ 7,436,000
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		33,014,789
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		6,071,471
Gross Amount Carried at close of period 12/31/2015, Land		7,436,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		39,086,260
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		46,522,260
Accumulated Depreciation		(20,011,745)
Investment in Real Estate Net		26,510,515
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		2,021,207
Gross Amount Carried at close of period 12/31/2015, Land		5,220,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		18,765,850
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		23,985,850
Accumulated Depreciation		(7,784,093)
Investment in Real Estate Net		16,201,757
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		3,164,548
Gross Amount Carried at close of period 12/31/2015, Land		40,400,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		99,101,594
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		139,501,594
Accumulated Depreciation		(13,831,042)
Investment in Real Estate Net		125,670,552
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		799,333
Gross Amount Carried at close of period 12/31/2015, Land		6,863,792
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		37,275,541
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		44,139,333
Accumulated Depreciation		(10,525,198)
Investment in Real Estate Net		33,614,135
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		2,633,430
Gross Amount Carried at close of period 12/31/2015, Land		15,100,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		44,509,687
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		59,609,687
Accumulated Depreciation		(6,132,286)
Investment in Real Estate Net		53,477,401
Encumbrances		$ 0
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		2,066,458
Gross Amount Carried at close of period 12/31/2015, Land		30,400,340
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		105,891,118
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		136,291,458
Accumulated Depreciation		(22,819,650)
Investment in Real Estate Net		113,471,808
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		3,799,207
Gross Amount Carried at close of period 12/31/2015, Land		6,615,467
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		18,628,542
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		25,244,009
Accumulated Depreciation		(7,638,498)
Investment in Real Estate Net		17,605,511
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		1,352,210
Gross Amount Carried at close of period 12/31/2015, Land		13,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		28,265,323
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		41,765,323
Accumulated Depreciation		(4,701,324)
Investment in Real Estate Net		37,063,999
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		3,941,196
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		91,327,220
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		91,327,220
Accumulated Depreciation		(14,489,207)
Investment in Real Estate Net		76,838,013
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		3,681,274
Gross Amount Carried at close of period 12/31/2015, Land		9,606,600
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		24,874,506
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		34,481,106
Accumulated Depreciation		(14,783,421)
Investment in Real Estate Net		19,697,685
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		3,008,274
Gross Amount Carried at close of period 12/31/2015, Land		32,300,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		88,127,598
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		120,427,598
Accumulated Depreciation		(12,711,972)
Investment in Real Estate Net		107,715,626
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		2,609,270
Gross Amount Carried at close of period 12/31/2015, Land		17,200,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		50,528,245
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		67,728,245
Accumulated Depreciation		(7,196,001)
Investment in Real Estate Net		60,532,244
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		840,538
Gross Amount Carried at close of period 12/31/2015, Land		498,080
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		4,170,098
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		4,668,178
Accumulated Depreciation		(2,431,087)
Investment in Real Estate Net		2,237,091
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		8,358,167
Gross Amount Carried at close of period 12/31/2015, Land		1,808,900
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		24,632,528
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		26,441,428
Accumulated Depreciation		(16,229,794)
Investment in Real Estate Net		10,211,634
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		947,391
Gross Amount Carried at close of period 12/31/2015, Land		13,092,552
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		44,854,839
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		57,947,391
Accumulated Depreciation		(8,612,518)
Investment in Real Estate Net		49,334,873
Encumbrances		$ 0
Elevé [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		186,855
Gross Amount Carried at close of period 12/31/2015, Land		14,080,560
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		56,606,295
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		70,686,855
Accumulated Depreciation		(5,258,108)
Investment in Real Estate Net		65,428,747
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		18,997,536
Gross Amount Carried at close of period 12/31/2015, Land		14,855,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		76,564,172
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		91,419,172
Accumulated Depreciation		(49,539,039)
Investment in Real Estate Net		41,880,133
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		294,376
Gross Amount Carried at close of period 12/31/2015, Land		12,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		29,501,873
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		41,501,873
Accumulated Depreciation		(4,700,031)
Investment in Real Estate Net		36,801,842
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		1,110,902
Gross Amount Carried at close of period 12/31/2015, Land		8,700,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		26,556,905
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		35,256,905
Accumulated Depreciation		(6,547,074)
Investment in Real Estate Net		28,709,831
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		742,760
Gross Amount Carried at close of period 12/31/2015, Land		25,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		84,728,977
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		110,628,977
Accumulated Depreciation		(12,566,319)
Investment in Real Estate Net		98,062,658
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		2,297,171
Gross Amount Carried at close of period 12/31/2015, Land		1,129,018
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		9,844,427
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		10,973,445
Accumulated Depreciation		(5,478,777)
Investment in Real Estate Net		5,494,668
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		1,392,624
Gross Amount Carried at close of period 12/31/2015, Land		25,800,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		80,145,738
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		105,945,738
Accumulated Depreciation		(11,547,488)
Investment in Real Estate Net		94,398,250
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		2,495,809
Gross Amount Carried at close of period 12/31/2015, Land		18,144,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		49,063,750
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		67,207,750
Accumulated Depreciation		(18,185,915)
Investment in Real Estate Net		49,021,835
Encumbrances		$ 0
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		13,139,391
Gross Amount Carried at close of period 12/31/2015, Land		9,209,780
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		38,862,057
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		48,071,837
Accumulated Depreciation		(19,457,428)
Investment in Real Estate Net		28,614,409
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		4,137,461
Gross Amount Carried at close of period 12/31/2015, Land		1,722,400
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		19,608,890
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		21,331,290
Accumulated Depreciation		(11,745,089)
Investment in Real Estate Net		9,586,201
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		4,187,941
Gross Amount Carried at close of period 12/31/2015, Land		2,339,330
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		20,321,529
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		22,660,859
Accumulated Depreciation		(12,098,366)
Investment in Real Estate Net		10,562,493
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		827,545
Gross Amount Carried at close of period 12/31/2015, Land		911,534
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		6,920,963
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		7,832,497
Accumulated Depreciation		(3,865,157)
Investment in Real Estate Net		3,967,340
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		3,646,785
Gross Amount Carried at close of period 12/31/2015, Land		10,806,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		33,982,115
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		44,788,115
Accumulated Depreciation		(14,251,207)
Investment in Real Estate Net		30,536,908
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		15,887,513
Gross Amount Carried at close of period 12/31/2015, Land		59,387,158
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		174,716,945
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		234,104,103
Accumulated Depreciation		(66,524,689)
Investment in Real Estate Net		167,579,414
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		1,471,640
Gross Amount Carried at close of period 12/31/2015, Land		10,800,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		33,279,975
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		44,079,975
Accumulated Depreciation		(12,980,415)
Investment in Real Estate Net		31,099,560
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		1,006,685
Gross Amount Carried at close of period 12/31/2015, Land		6,895,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		19,990,282
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		26,885,282
Accumulated Depreciation		(8,656,120)
Investment in Real Estate Net		18,229,162
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		2,626,877
Gross Amount Carried at close of period 12/31/2015, Land		1,546,700
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		10,401,553
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		11,948,253
Accumulated Depreciation		(7,058,305)
Investment in Real Estate Net		4,889,948
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		203,388
Gross Amount Carried at close of period 12/31/2015, Land		23,299,892
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		102,903,496
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		126,203,388
Accumulated Depreciation		(9,214,042)
Investment in Real Estate Net		116,989,346
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		1,342,073
Gross Amount Carried at close of period 12/31/2015, Land		583,679
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		5,243,847
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		5,827,526
Accumulated Depreciation		(2,886,630)
Investment in Real Estate Net		2,940,896
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		2,895,346
Gross Amount Carried at close of period 12/31/2015, Land		2,229,095
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		19,723,499
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		21,952,594
Accumulated Depreciation		(10,982,160)
Investment in Real Estate Net		10,970,434
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		203,172
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		20,079,029
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		20,079,029
Accumulated Depreciation		(6,387,155)
Investment in Real Estate Net		13,691,874
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		1,058,592
Gross Amount Carried at close of period 12/31/2015, Land		6,800,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		22,517,700
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		29,317,700
Accumulated Depreciation		(8,801,180)
Investment in Real Estate Net		20,516,520
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		1,313,527
Gross Amount Carried at close of period 12/31/2015, Land		10,080,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		38,840,439
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		48,920,439
Accumulated Depreciation		(14,496,059)
Investment in Real Estate Net		34,424,380
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		494,697
Gross Amount Carried at close of period 12/31/2015, Land		9,435,760
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		33,058,937
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		42,494,697
Accumulated Depreciation		(6,882,542)
Investment in Real Estate Net		35,612,155
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		2,026,803
Gross Amount Carried at close of period 12/31/2015, Land		23,420,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		72,004,502
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		95,424,502
Accumulated Depreciation		(28,426,002)
Investment in Real Estate Net		66,998,500
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		2,025,249
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		10,599,286
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		2,025,249
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		12,624,535
Accumulated Depreciation		0
Investment in Real Estate Net		12,624,535
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		3,378,496
Gross Amount Carried at close of period 12/31/2015, Land		5,350,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		44,492,570
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		49,842,570
Accumulated Depreciation		(18,501,842)
Investment in Real Estate Net		31,340,728
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 12/31/2015, 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
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		874,464
Gross Amount Carried at close of period 12/31/2015, Land		2,732,800
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		14,762,746
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		17,495,546
Accumulated Depreciation		(6,352,195)
Investment in Real Estate Net		11,143,351
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		76,010,218
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		115,966
Gross Amount Carried at close of period 12/31/2015, Land		14,791,831
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		76,126,184
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		90,918,015
Accumulated Depreciation		(7,438,023)
Investment in Real Estate Net		83,479,992
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		206
Initial Cost to Company, Land		$ 11,726,305
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		54,388,245
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		45
Gross Amount Carried at close of period 12/31/2015, Land		11,726,305
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		54,388,290
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		66,114,595
Accumulated Depreciation		(684,861)
Investment in Real Estate Net		65,429,734
Encumbrances		$ 0
Kelvin, The [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Irvine, CA
Real Estate And Accumulated Depreciation Units		194
Initial Cost to Company, Land		$ 15,521,552
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		64,853,448
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		10,657
Gross Amount Carried at close of period 12/31/2015, Land		15,521,552
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		64,864,105
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		80,385,657
Accumulated Depreciation		(1,340,371)
Investment in Real Estate Net		79,045,286
Encumbrances		$ 0
Kendall Square II [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Cambridge, MA
Real Estate And Accumulated Depreciation Units		0
Initial Cost to Company, Land		$ 0
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		1,105,465
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		1,105,465
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		1,105,465
Accumulated Depreciation		0
Investment in Real Estate Net		1,105,465
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		7,917,500
Gross Amount Carried at close of period 12/31/2015, Land		27,246,045
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		45,658,550
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		72,904,595
Accumulated Depreciation		(25,157,567)
Investment in Real Estate Net		47,747,028
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		12,316,194
Gross Amount Carried at close of period 12/31/2015, Land		5,928,400
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		45,911,456
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		51,839,856
Accumulated Depreciation		(29,948,038)
Investment in Real Estate Net		21,891,818
Encumbrances		$ 0
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		797,056
Gross Amount Carried at close of period 12/31/2015, Land		5,805,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		26,502,056
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		32,307,056
Accumulated Depreciation		(6,457,391)
Investment in Real Estate Net		25,849,665
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		291,850
Gross Amount Carried at close of period 12/31/2015, Land		20,100,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		68,200,873
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		88,300,873
Accumulated Depreciation		(9,179,835)
Investment in Real Estate Net		79,121,038
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		4,174,184
Gross Amount Carried at close of period 12/31/2015, Land		23,300,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		82,619,841
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		105,919,841
Accumulated Depreciation		(11,149,971)
Investment in Real Estate Net		94,769,870
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		1,449,025
Gross Amount Carried at close of period 12/31/2015, Land		73,170,045
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		55,411,535
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		128,581,580
Accumulated Depreciation		(19,189,340)
Investment in Real Estate Net		109,392,240
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		$ 47,096,917
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		153,899,994
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		73,147,489
Gross Amount Carried at close of period 12/31/2015, Land		47,096,917
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		227,047,483
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		274,144,400
Accumulated Depreciation		(129,782,488)
Investment in Real Estate Net		144,361,912
Encumbrances		$ 0
Mantena [Member]
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		492,732
Gross Amount Carried at close of period 12/31/2015, Land		22,346,513
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		61,993,890
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		84,340,403
Accumulated Depreciation		(9,234,987)
Investment in Real Estate Net		75,105,416
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		4,909,098
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		173,751,540
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		173,751,540
Accumulated Depreciation		(27,415,993)
Investment in Real Estate Net		146,335,547
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		4,016,502
Gross Amount Carried at close of period 12/31/2015, Land		60,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		93,327,984
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		154,227,984
Accumulated Depreciation		(13,774,366)
Investment in Real Estate Net		140,453,618
Encumbrances		$ 0
Milano Lofts [Member]
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		381,581
Gross Amount Carried at close of period 12/31/2015, Land		8,125,216
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		27,760,365
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		35,885,581
Accumulated Depreciation		(4,712,661)
Investment in Real Estate Net		31,172,920
Encumbrances		$ 0
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		1,757,827
Gross Amount Carried at close of period 12/31/2015, Land		12,700,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		47,684,611
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		60,384,611
Accumulated Depreciation		(19,906,193)
Investment in Real Estate Net		40,478,418
Encumbrances		$ 0
Mountain View Redevelopment [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Mountain View, CA
Real Estate And Accumulated Depreciation Units		0
Initial Cost to Company, Land		$ 0
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		6,539
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		6,539
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		6,539
Accumulated Depreciation		0
Investment in Real Estate Net		6,539
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		1,554,378
Gross Amount Carried at close of period 12/31/2015, Land		8,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		54,083,824
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		62,583,824
Accumulated Depreciation		(18,494,933)
Investment in Real Estate Net		44,088,891
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		3,764,623
Gross Amount Carried at close of period 12/31/2015, Land		75,800,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		106,470,024
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		182,270,024
Accumulated Depreciation		(17,676,937)
Investment in Real Estate Net		164,593,087
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		2,259,421
Gross Amount Carried at close of period 12/31/2015, Land		9,360,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		23,037,974
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		32,397,974
Accumulated Depreciation		(12,381,522)
Investment in Real Estate Net		20,016,452
Encumbrances		$ 0
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		77,472,217
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		11,916,802
Gross Amount Carried at close of period 12/31/2015, Land		38,607,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		89,389,019
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		127,996,019
Accumulated Depreciation		(25,399,200)
Investment in Real Estate Net		102,596,819
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		10,416,100
Gross Amount Carried at close of period 12/31/2015, Land		5,527,800
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,107,805
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		30,635,605
Accumulated Depreciation		(16,166,627)
Investment in Real Estate Net		14,468,978
Encumbrances		$ 0
Oak Park Combined [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Agoura Hills, CA
Real Estate And Accumulated Depreciation Units		444
Initial Cost to Company, Land		$ 3,390,700
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		30,517,274
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		9,019,341
Gross Amount Carried at close of period 12/31/2015, Land		3,390,700
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		39,536,615
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		42,927,315
Accumulated Depreciation		(27,064,200)
Investment in Real Estate Net		15,863,115
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		1,262,957
Gross Amount Carried at close of period 12/31/2015, Land		22,200,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		29,935,936
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		52,135,936
Accumulated Depreciation		(4,761,170)
Investment in Real Estate Net		47,374,766
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		747,540
Gross Amount Carried at close of period 12/31/2015, Land		15,400,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		36,221,876
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		51,621,876
Accumulated Depreciation		(5,451,482)
Investment in Real Estate Net		46,170,394
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		2,191,084
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		122,986,443
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		122,986,443
Accumulated Depreciation		(19,217,166)
Investment in Real Estate Net		103,769,277
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		3,243,097
Gross Amount Carried at close of period 12/31/2015, Land		5,111,200
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		15,153,535
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		20,264,735
Accumulated Depreciation		(9,238,961)
Investment in Real Estate Net		11,025,774
Encumbrances		$ 0
Odin (fka Tallman) [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Seattle, WA
Real Estate And Accumulated Depreciation Units		301
Initial Cost to Company, Land		$ 16,807,519
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		63,101,811
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		241
Gross Amount Carried at close of period 12/31/2015, Land		16,807,519
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		63,102,052
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		79,909,571
Accumulated Depreciation		(623,866)
Investment in Real Estate Net		79,285,705
Encumbrances		$ 0
Old Town Lofts [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Redmond, WA
Real Estate And Accumulated Depreciation Units		149
Initial Cost to Company, Land		$ 7,740,467
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		44,146,181
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		159,751
Gross Amount Carried at close of period 12/31/2015, Land		7,740,467
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		44,305,932
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		52,046,399
Accumulated Depreciation		(734,373)
Investment in Real Estate Net		51,312,026
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		$ 30,224,393
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		59,682,378
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		30,224,393
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		59,682,378
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		89,906,771
Accumulated Depreciation		0
Investment in Real Estate Net		89,906,771
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		989,768
Gross Amount Carried at close of period 12/31/2015, Land		32,250,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		111,739,768
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		143,989,768
Accumulated Depreciation		(13,998,683)
Investment in Real Estate Net		129,991,085
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		5,558,590
Gross Amount Carried at close of period 12/31/2015, Land		40,504,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		23,584,269
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		64,088,269
Accumulated Depreciation		(10,342,724)
Investment in Real Estate Net		53,745,545
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		6,604,055
Gross Amount Carried at close of period 12/31/2015, Land		37,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		16,459,652
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		54,059,652
Accumulated Depreciation		(8,709,483)
Investment in Real Estate Net		45,350,169
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		8,549,855
Gross Amount Carried at close of period 12/31/2015, Land		52,654,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		31,595,606
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		84,249,606
Accumulated Depreciation		(14,193,545)
Investment in Real Estate Net		70,056,061
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		8,398,427
Gross Amount Carried at close of period 12/31/2015, Land		102,163,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		117,387,829
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		219,550,829
Accumulated Depreciation		(40,021,695)
Investment in Real Estate Net		179,529,134
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		173
Initial Cost to Company, Land		$ 16,667,059
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		66,308,322
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		4,993
Gross Amount Carried at close of period 12/31/2015, Land		16,667,059
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		66,313,315
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		82,980,374
Accumulated Depreciation		(1,386,523)
Investment in Real Estate Net		81,593,851
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		700,661
Gross Amount Carried at close of period 12/31/2015, Land		28,300,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		79,538,845
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		107,838,845
Accumulated Depreciation		(11,504,796)
Investment in Real Estate Net		96,334,049
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		757,785
Gross Amount Carried at close of period 12/31/2015, Land		13,700,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		59,845,304
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		73,545,304
Accumulated Depreciation		(8,000,115)
Investment in Real Estate Net		65,545,189
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		774,074
Gross Amount Carried at close of period 12/31/2015, Land		43,200,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		129,527,433
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		172,727,433
Accumulated Depreciation		(19,900,917)
Investment in Real Estate Net		152,826,516
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		9,419,065
Gross Amount Carried at close of period 12/31/2015, Land		3,033,500
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		36,721,448
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		39,754,948
Accumulated Depreciation		(24,776,986)
Investment in Real Estate Net		14,977,962
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		3,981,119
Gross Amount Carried at close of period 12/31/2015, Land		6,246,700
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		15,808,572
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		22,055,272
Accumulated Depreciation		(10,527,862)
Investment in Real Estate Net		11,527,410
Encumbrances		$ 0
Pearl, The [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Seattle, WA
Real Estate And Accumulated Depreciation Units		80
Initial Cost to Company, Land		$ 6,972,585
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		26,527,415
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		6,972,585
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		26,527,415
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		33,500,000
Accumulated Depreciation		0
Investment in Real Estate Net		33,500,000
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		2,764,585
Gross Amount Carried at close of period 12/31/2015, Land		18,094,052
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		84,670,533
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		102,764,585
Accumulated Depreciation		(19,826,265)
Investment in Real Estate Net		82,938,320
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		1,157,352
Gross Amount Carried at close of period 12/31/2015, Land		816,922
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		6,618,307
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		7,435,229
Accumulated Depreciation		(3,766,443)
Investment in Real Estate Net		3,668,786
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		12,699,944
Gross Amount Carried at close of period 12/31/2015, Land		35,100,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		46,173,766
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		81,273,766
Accumulated Depreciation		(19,897,231)
Investment in Real Estate Net		61,376,535
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		3,510,897
Gross Amount Carried at close of period 12/31/2015, Land		3,572,400
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		18,171,891
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		21,744,291
Accumulated Depreciation		(11,352,508)
Investment in Real Estate Net		10,391,783
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		3,296,844
Gross Amount Carried at close of period 12/31/2015, Land		8,640,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		24,783,970
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		33,423,970
Accumulated Depreciation		(13,318,844)
Investment in Real Estate Net		20,105,126
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		19,873,490
Gross Amount Carried at close of period 12/31/2015, Land		22,487,006
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		116,716,403
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		139,203,409
Accumulated Depreciation		(71,088,414)
Investment in Real Estate Net		68,114,995
Encumbrances		$ 0
Potrero 1010 [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		133,910,937
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		40,830,011
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		133,910,937
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		174,740,948
Accumulated Depreciation		0
Investment in Real Estate Net		174,740,948
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		2,061,951
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		70,039,264
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		70,039,264
Accumulated Depreciation		(9,953,439)
Investment in Real Estate Net		60,085,825
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		1,301,267
Gross Amount Carried at close of period 12/31/2015, Land		32,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		65,737,806
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		97,737,806
Accumulated Depreciation		(23,364,019)
Investment in Real Estate Net		74,373,787
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		269
Initial Cost to Company, Land		$ 76,292,169
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		163,700,126
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		76,292,169
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		163,700,126
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		239,992,295
Accumulated Depreciation		(5,492,140)
Investment in Real Estate Net		234,500,155
Encumbrances		$ 0
Promenade at Town Center I & II [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Valencia, CA
Real Estate And Accumulated Depreciation Units		564
Initial Cost to Company, Land		$ 28,200,000
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		69,795,915
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		5,471,517
Gross Amount Carried at close of period 12/31/2015, Land		28,200,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		75,267,432
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		103,467,432
Accumulated Depreciation		(33,050,350)
Investment in Real Estate Net		70,417,082
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		813,007
Gross Amount Carried at close of period 12/31/2015, Land		26,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		85,224,169
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		112,124,169
Accumulated Depreciation		(12,835,782)
Investment in Real Estate Net		99,288,387
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		872,804
Gross Amount Carried at close of period 12/31/2015, Land		15,546,376
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		66,192,814
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		81,739,190
Accumulated Depreciation		(11,437,349)
Investment in Real Estate Net		70,301,841
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		722,527
Gross Amount Carried at close of period 12/31/2015, Land		10,300,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		34,211,272
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		44,511,272
Accumulated Depreciation		(5,429,653)
Investment in Real Estate Net		39,081,619
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		5,591,340
Gross Amount Carried at close of period 12/31/2015, Land		1,857,400
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		22,304,594
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		24,161,994
Accumulated Depreciation		(15,853,559)
Investment in Real Estate Net		8,308,435
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		148,126
Gross Amount Carried at close of period 12/31/2015, Land		2,458,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		4,690,126
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		7,148,126
Accumulated Depreciation		(1,571,899)
Investment in Real Estate Net		5,576,227
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		2,601,273
Gross Amount Carried at close of period 12/31/2015, Land		27,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		35,630,878
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		62,630,878
Accumulated Depreciation		(5,569,705)
Investment in Real Estate Net		57,061,173
Encumbrances		$ 0
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		7,339,599
Gross Amount Carried at close of period 12/31/2015, Land		11,918,917
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		76,202,240
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		88,121,157
Accumulated Depreciation		(31,804,125)
Investment in Real Estate Net		56,317,032
Encumbrances		$ 0
Reserve at Town Center I-III (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		584
Initial Cost to Company, Land		$ 16,769,205
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		77,511,523
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		2,678,501
Gross Amount Carried at close of period 12/31/2015, Land		16,769,205
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		80,190,024
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		96,959,229
Accumulated Depreciation		(24,170,095)
Investment in Real Estate Net		72,789,134
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		107,725,435
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		37,183
Gross Amount Carried at close of period 12/31/2015, Land		17,859,785
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		107,762,618
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		125,622,403
Accumulated Depreciation		(6,461,296)
Investment in Real Estate Net		119,161,107
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		88
Initial Cost to Company, Land		$ 12,118,061
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		39,965,098
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		3,415
Gross Amount Carried at close of period 12/31/2015, Land		12,118,061
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		39,968,513
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		52,086,574
Accumulated Depreciation		(1,103,584)
Investment in Real Estate Net		50,982,990
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		500,196
Gross Amount Carried at close of period 12/31/2015, Land		2,268,160
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		15,364,678
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		17,632,838
Accumulated Depreciation		(4,413,092)
Investment in Real Estate Net		13,219,746
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		5,222,765
Gross Amount Carried at close of period 12/31/2015, Land		11,809,500
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		39,226,813
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		51,036,313
Accumulated Depreciation		(21,544,992)
Investment in Real Estate Net		29,491,321
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		1,065,313
Gross Amount Carried at close of period 12/31/2015, Land		34,963,355
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		85,652,971
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		120,616,326
Accumulated Depreciation		(13,337,511)
Investment in Real Estate Net		107,278,815
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		1,657,715
Gross Amount Carried at close of period 12/31/2015, Land		17,136,645
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		42,194,246
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		59,330,891
Accumulated Depreciation		(6,014,126)
Investment in Real Estate Net		53,316,765
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		6,922,776
Gross Amount Carried at close of period 12/31/2015, Land		118,669,441
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		105,803,335
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		224,472,776
Accumulated Depreciation		(31,766,311)
Investment in Real Estate Net		192,706,465
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		852,454
Gross Amount Carried at close of period 12/31/2015, Land		14,355,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		81,746,503
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		96,101,503
Accumulated Depreciation		(15,145,119)
Investment in Real Estate Net		80,956,384
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		3,383,538
Gross Amount Carried at close of period 12/31/2015, Land		3,325,517
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,957,364
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		29,282,881
Accumulated Depreciation		(14,452,521)
Investment in Real Estate Net		14,830,360
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		2,560,055
Gross Amount Carried at close of period 12/31/2015, Land		2,300,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		9,966,785
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		12,266,785
Accumulated Depreciation		(5,911,876)
Investment in Real Estate Net		6,354,909
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		6,536,428
Gross Amount Carried at close of period 12/31/2015, Land		2,012,350
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		19,988,578
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		22,000,928
Accumulated Depreciation		(11,602,104)
Investment in Real Estate Net		10,398,824
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		668,021
Gross Amount Carried at close of period 12/31/2015, Land		4,922,840
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		30,870,181
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		35,793,021
Accumulated Depreciation		(6,606,758)
Investment in Real Estate Net		29,186,263
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		516,747
Gross Amount Carried at close of period 12/31/2015, Land		14,641,990
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		43,374,757
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		58,016,747
Accumulated Depreciation		(10,000,868)
Investment in Real Estate Net		48,015,879
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		3,738,122
Gross Amount Carried at close of period 12/31/2015, Land		663,800
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		9,712,925
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		10,376,725
Accumulated Depreciation		(6,665,425)
Investment in Real Estate Net		3,711,300
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		13,786,422
Gross Amount Carried at close of period 12/31/2015, Land		3,342,381
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		45,123,754
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		48,466,135
Accumulated Depreciation		(31,901,556)
Investment in Real Estate Net		16,564,579
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		2,534,401
Gross Amount Carried at close of period 12/31/2015, Land		10,560,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		28,108,858
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		38,668,858
Accumulated Depreciation		(15,040,496)
Investment in Real Estate Net		23,628,362
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		3,437,547
Gross Amount Carried at close of period 12/31/2015, Land		1,781,600
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		20,169,463
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		21,951,063
Accumulated Depreciation		(11,666,506)
Investment in Real Estate Net		10,284,557
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		4,411,395
Gross Amount Carried at close of period 12/31/2015, Land		16,836,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		39,825,395
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		56,661,395
Accumulated Depreciation		(10,031,613)
Investment in Real Estate Net		46,629,782
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		35,113,125
Gross Amount Carried at close of period 12/31/2015, Land		78,278,200
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		126,598,716
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		204,876,916
Accumulated Depreciation		(60,654,648)
Investment in Real Estate Net		144,222,268
Encumbrances		$ 0
SoMa II [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		$ 29,406,496
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		1,512,966
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		29,406,496
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		1,512,966
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		30,919,462
Accumulated Depreciation		0
Investment in Real Estate Net		30,919,462
Encumbrances		$ 0
Sonterra at Foothill Ranch [Member]
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		4,091,719
Gross Amount Carried at close of period 12/31/2015, Land		7,503,400
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		28,140,226
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		35,643,626
Accumulated Depreciation		(16,219,354)
Investment in Real Estate Net		19,424,272
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		2,029,236
Gross Amount Carried at close of period 12/31/2015, Land		68,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		81,506,097
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		150,406,097
Accumulated Depreciation		(12,682,198)
Investment in Real Estate Net		137,723,899
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		5,786,341
Gross Amount Carried at close of period 12/31/2015, Land		2,481,821
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		22,566,700
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		25,048,521
Accumulated Depreciation		(12,988,103)
Investment in Real Estate Net		12,060,418
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		3,133,285
Gross Amount Carried at close of period 12/31/2015, Land		6,936,600
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		17,457,354
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		24,393,954
Accumulated Depreciation		(10,724,438)
Investment in Real Estate Net		13,669,516
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 12/31/2015, 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		11,820
Gross Amount Carried at close of period 12/31/2015, Land		7,222,544
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		26,289,276
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		33,511,820
Accumulated Depreciation		(2,132,808)
Investment in Real Estate Net		31,379,012
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 12/31/2015, 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		3,699,790
Gross Amount Carried at close of period 12/31/2015, Land		1,757,438
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		15,447,902
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		17,205,340
Accumulated Depreciation		(9,010,282)
Investment in Real Estate Net		8,195,058
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		3,038,378
Gross Amount Carried at close of period 12/31/2015, Land		26,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		31,473,402
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		57,473,402
Accumulated Depreciation		(5,983,695)
Investment in Real Estate Net		51,489,707
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		58,881,773
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		145,689
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		59,027,462
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		59,027,462
Accumulated Depreciation		(8,159,767)
Investment in Real Estate Net		50,867,695
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		792,092
Gross Amount Carried at close of period 12/31/2015, Land		14,087,610
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		17,106,243
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		31,193,853
Accumulated Depreciation		(4,289,162)
Investment in Real Estate Net		26,904,691
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		3,752,897
Gross Amount Carried at close of period 12/31/2015, Land		26,767,171
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		222,575,625
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		249,342,796
Accumulated Depreciation		(54,468,452)
Investment in Real Estate Net		194,874,344
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		29,005,762
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		620,352
Gross Amount Carried at close of period 12/31/2015, Land		7,030,766
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		29,626,114
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		36,656,880
Accumulated Depreciation		(2,968,086)
Investment in Real Estate Net		33,688,794
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		9,394
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		1,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		9,394
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		1,509,394
Accumulated Depreciation		0
Investment in Real Estate Net		1,509,394
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		891,715
Gross Amount Carried at close of period 12/31/2015, Land		15,568,464
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		55,921,322
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		71,489,786
Accumulated Depreciation		(15,215,629)
Investment in Real Estate Net		56,274,157
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		5,016,383
Gross Amount Carried at close of period 12/31/2015, Land		103,539,100
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		99,099,108
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		202,638,208
Accumulated Depreciation		(37,252,860)
Investment in Real Estate Net		165,385,348
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		11,256,618
Gross Amount Carried at close of period 12/31/2015, Land		139,933,500
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		202,221,363
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		342,154,863
Accumulated Depreciation		(74,504,178)
Investment in Real Estate Net		267,650,685
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		9,992,673
Gross Amount Carried at close of period 12/31/2015, Land		144,968,250
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		148,339,354
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		293,307,604
Accumulated Depreciation		(56,241,522)
Investment in Real Estate Net		237,066,082
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		74,480,619
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		269,601
Gross Amount Carried at close of period 12/31/2015, Land		12,542,418
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		74,750,220
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		87,292,638
Accumulated Depreciation		(6,439,418)
Investment in Real Estate Net		80,853,220
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		528,472
Gross Amount Carried at close of period 12/31/2015, Land		8,800,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		22,716,760
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		31,516,760
Accumulated Depreciation		(9,395,695)
Investment in Real Estate Net		22,121,065
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		7,589,101
Gross Amount Carried at close of period 12/31/2015, Land		9,403,960
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		198,185,141
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		207,589,101
Accumulated Depreciation		(45,420,591)
Investment in Real Estate Net		162,168,510
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		451,368
Gross Amount Carried at close of period 12/31/2015, Land		15,322,724
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		76,627,962
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		91,950,686
Accumulated Depreciation		(11,158,120)
Investment in Real Estate Net		80,792,566
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		4,136,146
Gross Amount Carried at close of period 12/31/2015, Land		5,190,700
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		13,815,255
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		19,005,955
Accumulated Depreciation		(8,802,858)
Investment in Real Estate Net		10,203,097
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		1,610,778
Gross Amount Carried at close of period 12/31/2015, Land		18,539,817
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		132,018,143
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		150,557,960
Accumulated Depreciation		(29,933,549)
Investment in Real Estate Net		120,624,411
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		9,240,278
Gross Amount Carried at close of period 12/31/2015, Land		1,665,100
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		24,225,956
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		25,891,056
Accumulated Depreciation		(17,544,510)
Investment in Real Estate Net		8,346,546
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		452,196
Gross Amount Carried at close of period 12/31/2015, Land		15,100,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		41,311,592
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		56,411,592
Accumulated Depreciation		(6,269,124)
Investment in Real Estate Net		50,142,468
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		2,314,664
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		88,254,667
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		88,254,667
Accumulated Depreciation		(12,224,720)
Investment in Real Estate Net		76,029,947
Encumbrances		$ 0
Vista 99 (fka Tasman) [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		163,443,672
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		27,709,329
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		163,443,672
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		191,153,001
Accumulated Depreciation		0
Investment in Real Estate Net		191,153,001
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		15,916,279
Gross Amount Carried at close of period 12/31/2015, Land		4,525,800
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		56,652,572
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		61,178,372
Accumulated Depreciation		(41,596,423)
Investment in Real Estate Net		19,581,949
Encumbrances		$ 0
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		1,252,472
Gross Amount Carried at close of period 12/31/2015, Land		15,550,260
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		70,702,212
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		86,252,472
Accumulated Depreciation		(18,744,668)
Investment in Real Estate Net		67,507,804
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		3,777,135
Gross Amount Carried at close of period 12/31/2015, Land		12,448,888
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		55,821,583
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		68,270,471
Accumulated Depreciation		(12,955,477)
Investment in Real Estate Net		55,314,994
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		492,605
Gross Amount Carried at close of period 12/31/2015, Land		16,800,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		34,566,661
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		51,366,661
Accumulated Depreciation		(5,057,515)
Investment in Real Estate Net		46,309,146
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		1,325,106
Gross Amount Carried at close of period 12/31/2015, Land		1,418,893
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		10,810,112
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		12,229,005
Accumulated Depreciation		(5,911,293)
Investment in Real Estate Net		6,317,712
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		2,339,801
Gross Amount Carried at close of period 12/31/2015, Land		84,800,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		69,395,303
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		154,195,303
Accumulated Depreciation		(12,819,335)
Investment in Real Estate Net		141,375,968
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		2,000,511
Gross Amount Carried at close of period 12/31/2015, Land		469,546
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		165,123,533
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		165,593,079
Accumulated Depreciation		(44,450,837)
Investment in Real Estate Net		121,142,242
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		361,408
Gross Amount Carried at close of period 12/31/2015, Land		10,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		44,496,615
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		55,096,615
Accumulated Depreciation		(6,548,905)
Investment in Real Estate Net		48,547,710
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		1,305,267
Gross Amount Carried at close of period 12/31/2015, Land		64,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		62,448,526
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		127,348,526
Accumulated Depreciation		(10,006,114)
Investment in Real Estate Net		117,342,412
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		2,192,331
Gross Amount Carried at close of period 12/31/2015, Land		34,200,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		59,154,961
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		93,354,961
Accumulated Depreciation		(8,309,849)
Investment in Real Estate Net		85,045,112
Encumbrances		$ 0
Westside Barrington (fka 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		597,629
Gross Amount Carried at close of period 12/31/2015, Land		3,060,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		6,136,500
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		9,196,500
Accumulated Depreciation		(3,105,675)
Investment in Real Estate Net		6,090,825
Encumbrances		$ 0
Westside Barry (fka 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		402,842
Gross Amount Carried at close of period 12/31/2015, Land		1,530,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		3,426,365
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		4,956,365
Accumulated Depreciation		(1,787,554)
Investment in Real Estate Net		3,168,811
Encumbrances		$ 0
Westside Beloit (fka 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		513,625
Gross Amount Carried at close of period 12/31/2015, Land		1,785,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		3,746,879
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		5,531,879
Accumulated Depreciation		(1,945,537)
Investment in Real Estate Net		3,586,342
Encumbrances		$ 0
Westside Bundy (fka 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		424,651
Gross Amount Carried at close of period 12/31/2015, Land		1,955,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		3,966,086
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		5,921,086
Accumulated Depreciation		(1,996,405)
Investment in Real Estate Net		3,924,681
Encumbrances		$ 0
Westside Butler (fka 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		596,890
Gross Amount Carried at close of period 12/31/2015, Land		3,060,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		6,136,280
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		9,196,280
Accumulated Depreciation		(3,111,743)
Investment in Real Estate Net		6,084,537
Encumbrances		$ 0
Westside Villas (fka Westside Villas V & 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		113
Initial Cost to Company, Land		$ 9,605,000
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		19,983,385
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		1,877,050
Gross Amount Carried at close of period 12/31/2015, Land		9,605,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		21,860,435
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		31,465,435
Accumulated Depreciation		(10,577,308)
Investment in Real Estate Net		20,888,127
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		2,400,201
Gross Amount Carried at close of period 12/31/2015, Land		1,616,505
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		13,206,205
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		14,822,710
Accumulated Depreciation		(7,265,245)
Investment in Real Estate Net		7,557,465
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		9,301,611
Gross Amount Carried at close of period 12/31/2015, Land		2,662,900
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		33,287,108
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		35,950,008
Accumulated Depreciation		(23,042,811)
Investment in Real Estate Net		12,907,197
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		6,723,042
Gross Amount Carried at close of period 12/31/2015, Land		9,729,900
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		29,732,810
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		39,462,710
Accumulated Depreciation		(19,191,248)
Investment in Real Estate Net		20,271,462
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		1,316,602
Gross Amount Carried at close of period 12/31/2015, Land		498,377
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		4,648,150
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		5,146,527
Accumulated Depreciation		(2,687,633)
Investment in Real Estate Net		2,458,894
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		1,811
Initial Cost to Company, Land		$ 74,900,178
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		61,407,965
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		10,172,148
Gross Amount Carried at close of period 12/31/2015, Land		74,900,178
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		71,580,113
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		146,480,291
Accumulated Depreciation		(29,503,957)
Investment in Real Estate Net		116,976,334
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		107,367,022
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		107,367,022
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		107,367,022
Accumulated Depreciation		(84,488,405)
Investment in Real Estate Net		22,878,617
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		10,060,473
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		0
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		10,060,473
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		10,060,473
Accumulated Depreciation		0
Investment in Real Estate Net		10,060,473
Encumbrances		$ 0
Investment in Real Estate - Wholly Owned Unencumbered [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Units		52,513
Initial Cost to Company, Land		$ 4,495,508,075
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		12,087,293,175
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		855,011,332
Gross Amount Carried at close of period 12/31/2015, Land		4,495,508,075
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		12,942,304,507
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		17,437,812,582
Accumulated Depreciation		(3,224,397,212)
Investment in Real Estate Net		14,213,415,370
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		2,576,456
Gross Amount Carried at close of period 12/31/2015, Land		190,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		133,951,164
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		324,551,164
Accumulated Depreciation		(24,450,561)
Investment in Real Estate Net		300,100,603
Encumbrances		$ 106,080,734
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		2,229,551
Gross Amount Carried at close of period 12/31/2015, Land		9,780,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		91,897,716
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		101,677,716
Accumulated Depreciation		(25,254,785)
Investment in Real Estate Net		76,422,931
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		2,533,202
Gross Amount Carried at close of period 12/31/2015, Land		13,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		77,804,381
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		90,804,381
Accumulated Depreciation		(10,706,382)
Investment in Real Estate Net		$ 80,097,999
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		1,477,085
Gross Amount Carried at close of period 12/31/2015, Land		48,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		97,651,724
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		146,551,724
Accumulated Depreciation		(14,652,321)
Investment in Real Estate Net		131,899,403
Encumbrances		$ 60,075,893
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		1,412,483
Gross Amount Carried at close of period 12/31/2015, Land		79,400,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		80,535,107
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		159,935,107
Accumulated Depreciation		(13,348,028)
Investment in Real Estate Net		$ 146,587,079
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		2,859,298
Gross Amount Carried at close of period 12/31/2015, Land		56,300,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		144,050,878
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		200,350,878
Accumulated Depreciation		(22,215,124)
Investment in Real Estate Net		$ 178,135,754
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(K)
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		1,594,856
Gross Amount Carried at close of period 12/31/2015, Land		12,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		35,989,628
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		48,589,628
Accumulated Depreciation		(4,950,823)
Investment in Real Estate Net		$ 43,638,805
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		517
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		27,665,480
Gross Amount Carried at close of period 12/31/2015, Land		76,921,130
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		181,613,162
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		258,534,292
Accumulated Depreciation		(32,880,043)
Investment in Real Estate Net		225,654,249
Encumbrances		$ 95,363,077
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		10,143,724
Gross Amount Carried at close of period 12/31/2015, Land		21,041,710
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		82,075,047
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		103,116,757
Accumulated Depreciation		(13,529,391)
Investment in Real Estate Net		89,587,366
Encumbrances		$ 28,269,109
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		3,529,188
Gross Amount Carried at close of period 12/31/2015, Land		27,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		172,521,628
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		200,421,628
Accumulated Depreciation		(22,319,468)
Investment in Real Estate Net		$ 178,102,160
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(K)
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		503,998
Gross Amount Carried at close of period 12/31/2015, Land		59,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		156,365,603
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		216,265,603
Accumulated Depreciation		(21,941,504)
Investment in Real Estate Net		194,324,099
Encumbrances		$ 77,542,253
929 Mass (fka 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		6,057,741
Gross Amount Carried at close of period 12/31/2015, Land		3,252,993
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		27,803,336
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		31,056,329
Accumulated Depreciation		(14,907,606)
Investment in Real Estate Net		16,148,723
Encumbrances		$ 1,408,857
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		7,547,018
Gross Amount Carried at close of period 12/31/2015, Land		25,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		31,140,212
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		56,140,212
Accumulated Depreciation		(15,489,771)
Investment in Real Estate Net		40,650,441
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		1,386,963
Gross Amount Carried at close of period 12/31/2015, Land		5,839,548
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		30,747,415
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		36,586,963
Accumulated Depreciation		(7,867,305)
Investment in Real Estate Net		28,719,658
Encumbrances		$ 19,548,601
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		179,627
Gross Amount Carried at close of period 12/31/2015, Land		5,550,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		15,965,136
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		21,515,136
Accumulated Depreciation		(5,574,135)
Investment in Real Estate Net		15,941,001
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		4,613,227
Gross Amount Carried at close of period 12/31/2015, Land		24,310,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		63,827,356
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		88,137,356
Accumulated Depreciation		(34,004,610)
Investment in Real Estate Net		$ 54,132,746
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(I)
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		312,223
Gross Amount Carried at close of period 12/31/2015, Land		11,379,497
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		49,672,726
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		61,052,223
Accumulated Depreciation		(3,589,789)
Investment in Real Estate Net		57,462,434
Encumbrances		$ 28,936,250
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		1,070,248
Gross Amount Carried at close of period 12/31/2015, Land		26,650,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		63,920,248
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		90,570,248
Accumulated Depreciation		(15,872,496)
Investment in Real Estate Net		$ 74,697,752
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(J)
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		307,744
Gross Amount Carried at close of period 12/31/2015, Land		1,642,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		9,460,262
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		11,102,262
Accumulated Depreciation		(3,049,419)
Investment in Real Estate Net		8,052,843
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		1,156,962
Gross Amount Carried at close of period 12/31/2015, Land		7,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		21,694,321
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		28,694,321
Accumulated Depreciation		(9,975,656)
Investment in Real Estate Net		18,718,665
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		18,497,682
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		1,948,417
Gross Amount Carried at close of period 12/31/2015, Land		12,960,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		20,446,099
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		33,406,099
Accumulated Depreciation		(7,861,843)
Investment in Real Estate Net		25,544,256
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		853,000
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		115,174,619
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		115,174,619
Accumulated Depreciation		(16,129,562)
Investment in Real Estate Net		99,045,057
Encumbrances		$ 92,869,154
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		136,057
Gross Amount Carried at close of period 12/31/2015, Land		3,439,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		14,002,436
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		17,441,436
Accumulated Depreciation		(4,681,558)
Investment in Real Estate Net		12,759,878
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		3,202,259
Gross Amount Carried at close of period 12/31/2015, Land		31,682,754
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		124,298,045
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		155,980,799
Accumulated Depreciation		(45,159,303)
Investment in Real Estate Net		110,821,496
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		351,018
Gross Amount Carried at close of period 12/31/2015, Land		4,377,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		16,373,128
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		20,750,128
Accumulated Depreciation		(5,615,136)
Investment in Real Estate Net		15,134,992
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		1,351,455
Gross Amount Carried at close of period 12/31/2015, Land		12,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		44,878,834
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		57,478,834
Accumulated Depreciation		(6,634,781)
Investment in Real Estate Net		$ 50,844,053
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		10,947,605
Gross Amount Carried at close of period 12/31/2015, Land		2,288,300
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		31,543,886
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		33,832,186
Accumulated Depreciation		(24,139,928)
Investment in Real Estate Net		$ 9,692,258
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(J)
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		1,938,442
Gross Amount Carried at close of period 12/31/2015, Land		3,397,100
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		11,227,516
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		14,624,616
Accumulated Depreciation		(6,785,484)
Investment in Real Estate Net		7,839,132
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		498,789
Gross Amount Carried at close of period 12/31/2015, Land		9,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		17,449,115
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		26,449,115
Accumulated Depreciation		(2,511,650)
Investment in Real Estate Net		$ 23,937,465
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		9,909,279
Gross Amount Carried at close of period 12/31/2015, Land		14,704,898
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		89,104,381
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		103,809,279
Accumulated Depreciation		(22,102,861)
Investment in Real Estate Net		81,706,418
Encumbrances		$ 22,813,347
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		2,268,181
Gross Amount Carried at close of period 12/31/2015, Land		18,300,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		68,660,595
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		86,960,595
Accumulated Depreciation		(9,841,260)
Investment in Real Estate Net		$ 77,119,335
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		2,133,914
Gross Amount Carried at close of period 12/31/2015, Land		23,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		55,178,987
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		78,678,987
Accumulated Depreciation		(8,468,042)
Investment in Real Estate Net		$ 70,210,945
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		2,233,880
Gross Amount Carried at close of period 12/31/2015, Land		27,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		116,236,175
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		143,836,175
Accumulated Depreciation		(15,994,030)
Investment in Real Estate Net		$ 127,842,145
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(K)
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		14,281,345
Gross Amount Carried at close of period 12/31/2015, Land		2,082,095
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		33,021,160
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		35,103,255
Accumulated Depreciation		(25,264,071)
Investment in Real Estate Net		$ 9,839,184
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(J)
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		3,200,550
Gross Amount Carried at close of period 12/31/2015, Land		7,801,824
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		40,148,726
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		47,950,550
Accumulated Depreciation		(11,807,817)
Investment in Real Estate Net		36,142,733
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		712,699
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		124,472,503
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		124,472,503
Accumulated Depreciation		(18,177,935)
Investment in Real Estate Net		$ 106,294,568
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		486,155
Gross Amount Carried at close of period 12/31/2015, Land		23,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		88,208,476
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		111,708,476
Accumulated Depreciation		(12,420,764)
Investment in Real Estate Net		$ 99,287,712
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		6,807,773
Gross Amount Carried at close of period 12/31/2015, Land		6,510,200
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		46,497,893
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		53,008,093
Accumulated Depreciation		(29,297,448)
Investment in Real Estate Net		23,710,645
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		322,852
Gross Amount Carried at close of period 12/31/2015, Land		7,817,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		26,785,624
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		34,602,624
Accumulated Depreciation		(9,099,586)
Investment in Real Estate Net		25,503,038
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		604,622
Gross Amount Carried at close of period 12/31/2015, Land		35,200,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		109,372,820
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		144,572,820
Accumulated Depreciation		(14,855,770)
Investment in Real Estate Net		$ 129,717,050
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		234,336
Gross Amount Carried at close of period 12/31/2015, Land		7,113,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,858,162
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		32,971,162
Accumulated Depreciation		(8,785,368)
Investment in Real Estate Net		24,185,794
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		74,678,917
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		395,060
Gross Amount Carried at close of period 12/31/2015, Land		17,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		75,073,977
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		92,573,977
Accumulated Depreciation		(9,661,514)
Investment in Real Estate Net		82,912,463
Encumbrances		$ 97,790,236
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		808,007
Gross Amount Carried at close of period 12/31/2015, Land		16,047,023
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		49,458,970
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		65,505,993
Accumulated Depreciation		(10,096,648)
Investment in Real Estate Net		55,409,345
Encumbrances		$ 32,088,033
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		8,120,060
Gross Amount Carried at close of period 12/31/2015, Land		2,512,500
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		30,731,972
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		33,244,472
Accumulated Depreciation		(21,884,752)
Investment in Real Estate Net		11,359,720
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		295,592
Gross Amount Carried at close of period 12/31/2015, Land		5,425,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		21,433,620
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		26,858,620
Accumulated Depreciation		(7,621,120)
Investment in Real Estate Net		19,237,500
Encumbrances		$ 28,180,585
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		34,628,115
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		387,734
Gross Amount Carried at close of period 12/31/2015, Land		10,752,145
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		35,015,849
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		45,767,994
Accumulated Depreciation		(9,542,049)
Investment in Real Estate Net		36,225,945
Encumbrances		$ 26,495,000
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		3,351,321
Gross Amount Carried at close of period 12/31/2015, Land		14,100,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		28,014,204
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		42,114,204
Accumulated Depreciation		(10,515,075)
Investment in Real Estate Net		$ 31,599,129
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(J)
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		701,808
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		41,952,852
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		41,952,852
Accumulated Depreciation		(14,153,248)
Investment in Real Estate Net		27,799,604
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		4,533,141
Gross Amount Carried at close of period 12/31/2015, Land		13,642,420
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		34,240,616
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		47,883,036
Accumulated Depreciation		(15,885,790)
Investment in Real Estate Net		$ 31,997,246
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(J)
Liberty Park [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Brain Tree, 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		5,245,483
Gross Amount Carried at close of period 12/31/2015, Land		5,977,504
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		31,994,594
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		37,972,098
Accumulated Depreciation		(14,287,477)
Investment in Real Estate Net		23,684,621
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		1,351,073
Gross Amount Carried at close of period 12/31/2015, Land		16,382,822
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		85,168,151
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		101,550,973
Accumulated Depreciation		(20,623,905)
Investment in Real Estate Net		80,927,068
Encumbrances		$ 45,909,078
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		3,935,492
Gross Amount Carried at close of period 12/31/2015, Land		20,880,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		94,191,001
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		115,071,001
Accumulated Depreciation		(35,006,528)
Investment in Real Estate Net		80,064,473
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		1,855,488
Gross Amount Carried at close of period 12/31/2015, Land		13,740,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		42,612,789
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		56,352,789
Accumulated Depreciation		(15,053,939)
Investment in Real Estate Net		$ 41,298,850
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(J)
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		764,124
Gross Amount Carried at close of period 12/31/2015, Land		8,540,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		12,974,105
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		21,514,105
Accumulated Depreciation		(4,929,664)
Investment in Real Estate Net		16,584,441
Encumbrances		$ 22,843,410
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		7,621,842
Gross Amount Carried at close of period 12/31/2015, Land		12,858,693
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		64,790,345
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		77,649,038
Accumulated Depreciation		(28,371,508)
Investment in Real Estate Net		49,277,530
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		801,043
Gross Amount Carried at close of period 12/31/2015, Land		12,649,228
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		37,643,055
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		50,292,283
Accumulated Depreciation		(9,806,747)
Investment in Real Estate Net		$ 40,485,536
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(M)
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		7,505,606
Gross Amount Carried at close of period 12/31/2015, Land		8,160,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		36,866,544
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		45,026,544
Accumulated Depreciation		(21,688,065)
Investment in Real Estate Net		$ 23,338,479
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(J)
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		587,443
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		60,168,341
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		60,168,341
Accumulated Depreciation		(15,416,225)
Investment in Real Estate Net		44,752,116
Encumbrances		$ 42,865,814
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		2,769,431
Gross Amount Carried at close of period 12/31/2015, Land		4,000,159
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		97,060,021
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		101,060,180
Accumulated Depreciation		(39,300,172)
Investment in Real Estate Net		$ 61,760,008
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(I)
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		4,561,180
Gross Amount Carried at close of period 12/31/2015, Land		23,400,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		65,581,618
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		88,981,618
Accumulated Depreciation		(29,469,941)
Investment in Real Estate Net		59,511,677
Encumbrances		$ 35,967,006
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		7,047,844
Gross Amount Carried at close of period 12/31/2015, Land		14,752,034
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		80,383,269
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		95,135,303
Accumulated Depreciation		(33,557,234)
Investment in Real Estate Net		61,578,069
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		6,896,968
Gross Amount Carried at close of period 12/31/2015, Land		71,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		218,804,109
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		290,704,109
Accumulated Depreciation		(30,601,516)
Investment in Real Estate Net		$ 260,102,593
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		1,082,155
Gross Amount Carried at close of period 12/31/2015, Land		3,573,621
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		20,137,660
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		23,711,281
Accumulated Depreciation		(8,760,511)
Investment in Real Estate Net		$ 14,950,770
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(I)
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		4,001,480
Gross Amount Carried at close of period 12/31/2015, Land		10,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		56,814,415
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		67,314,415
Accumulated Depreciation		(24,499,908)
Investment in Real Estate Net		$ 42,814,507
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(J)
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		1,518,215
Gross Amount Carried at close of period 12/31/2015, Land		6,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		36,103,275
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		42,603,275
Accumulated Depreciation		(16,514,637)
Investment in Real Estate Net		$ 26,088,638
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(J)
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		2,428,206
Gross Amount Carried at close of period 12/31/2015, Land		16,345,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		75,508,876
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		91,853,876
Accumulated Depreciation		(28,451,308)
Investment in Real Estate Net		$ 63,402,568
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(I)
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		9,196,688
Gross Amount Carried at close of period 12/31/2015, Land		15,804,057
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		72,325,738
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		88,129,795
Accumulated Depreciation		(32,718,387)
Investment in Real Estate Net		55,411,408
Encumbrances		$ 84,778,876
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		317,548
Gross Amount Carried at close of period 12/31/2015, Land		2,161,840
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		14,751,162
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		16,913,002
Accumulated Depreciation		(4,197,329)
Investment in Real Estate Net		12,715,673
Encumbrances		$ 9,428,447
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		2,290,553
Gross Amount Carried at close of period 12/31/2015, Land		1,124,217
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		9,805,713
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		10,929,930
Accumulated Depreciation		(5,551,551)
Investment in Real Estate Net		5,378,379
Encumbrances		$ 523,346
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		6,763,521
Gross Amount Carried at close of period 12/31/2015, Land		8,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		30,846,545
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		39,746,545
Accumulated Depreciation		(17,527,179)
Investment in Real Estate Net		22,219,366
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		4,360,171
Gross Amount Carried at close of period 12/31/2015, Land		3,380,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		26,313,034
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		29,693,034
Accumulated Depreciation		(14,316,970)
Investment in Real Estate Net		15,376,064
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		4,252,808
Gross Amount Carried at close of period 12/31/2015, Land		79,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		181,569,785
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		261,469,785
Accumulated Depreciation		(25,190,244)
Investment in Real Estate Net		$ 236,279,541
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		7,129,137
Gross Amount Carried at close of period 12/31/2015, Land		2,629,804
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		30,800,026
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		33,429,830
Accumulated Depreciation		(19,917,548)
Investment in Real Estate Net		13,512,282
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		4,916,190
Gross Amount Carried at close of period 12/31/2015, Land		12,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		54,754,350
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		66,754,350
Accumulated Depreciation		(27,823,399)
Investment in Real Estate Net		38,930,951
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		2,749,599
Gross Amount Carried at close of period 12/31/2015, Land		28,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		64,666,269
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		93,266,269
Accumulated Depreciation		(25,093,215)
Investment in Real Estate Net		68,173,054
Encumbrances		$ 40,302,570
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		9,924,622
Gross Amount Carried at close of period 12/31/2015, Land		39,410,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		60,730,694
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		100,140,694
Accumulated Depreciation		(32,579,537)
Investment in Real Estate Net		67,561,157
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		175,855
Gross Amount Carried at close of period 12/31/2015, Land		2,736,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		7,985,882
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		10,721,882
Accumulated Depreciation		(2,797,420)
Investment in Real Estate Net		7,924,462
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		3,521,624
Gross Amount Carried at close of period 12/31/2015, Land		24,360,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		89,700,338
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		114,060,338
Accumulated Depreciation		(34,753,726)
Investment in Real Estate Net		79,306,612
Encumbrances		$ 77,353,222
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		5,804,577
Gross Amount Carried at close of period 12/31/2015, Land		12,650,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		39,460,869
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		52,110,869
Accumulated Depreciation		(18,318,859)
Investment in Real Estate Net		33,792,010
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		1,300,111
Gross Amount Carried at close of period 12/31/2015, Land		10,590,975
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		45,709,136
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		56,300,111
Accumulated Depreciation		(12,641,215)
Investment in Real Estate Net		43,658,896
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		535,196
Gross Amount Carried at close of period 12/31/2015, Land		10,350,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		35,968,633
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		46,318,633
Accumulated Depreciation		(12,337,193)
Investment in Real Estate Net		$ 33,981,440
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(J)
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		808,672
Gross Amount Carried at close of period 12/31/2015, Land		7,059,230
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		48,486,434
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		55,545,664
Accumulated Depreciation		(17,191,840)
Investment in Real Estate Net		38,353,824
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		539,897
Gross Amount Carried at close of period 12/31/2015, Land		9,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		14,501,420
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		23,501,420
Accumulated Depreciation		(2,424,132)
Investment in Real Estate Net		$ 21,077,288
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(L)
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		4,832,524
Gross Amount Carried at close of period 12/31/2015, Land		34,400,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		113,318,383
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		147,718,383
Accumulated Depreciation		(16,327,687)
Investment in Real Estate Net		$ 131,390,696
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(K)
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		605,010
Gross Amount Carried at close of period 12/31/2015, Land		60,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		48,798,847
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		109,698,847
Accumulated Depreciation		(9,079,353)
Investment in Real Estate Net		100,619,494
Encumbrances		$ 47,327,897
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		133,559,573
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		808,874
Gross Amount Carried at close of period 12/31/2015, Land		22,898,848
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		134,368,447
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		157,267,295
Accumulated Depreciation		(23,243,923)
Investment in Real Estate Net		134,023,372
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		4,380,543
Gross Amount Carried at close of period 12/31/2015, Land		8,550,600
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		21,368,726
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		29,919,326
Accumulated Depreciation		(12,368,124)
Investment in Real Estate Net		17,551,202
Encumbrances		$ 17,858,854
Investment in Real Estate - Wholly Owned Encumbered [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Units		23,686
Initial Cost to Company, Land		$ 1,688,383,769
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		5,069,221,671
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		297,359,218
Gross Amount Carried at close of period 12/31/2015, Land		1,688,383,769
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		5,366,580,889
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		7,054,964,658
Accumulated Depreciation		(1,464,311,726)
Investment in Real Estate Net		5,590,652,932
Encumbrances		$ 4,220,456,586
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		6,320,524
Gross Amount Carried at close of period 12/31/2015, Land		796,800
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		13,494,249
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		14,291,049
Accumulated Depreciation		(10,068,231)
Investment in Real Estate Net		4,222,818
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		3,497,193
Gross Amount Carried at close of period 12/31/2015, Land		4,869,448
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		15,452,257
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		20,321,705
Accumulated Depreciation		(9,266,022)
Investment in Real Estate Net		11,055,683
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		5,290,585
Gross Amount Carried at close of period 12/31/2015, Land		6,105,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		34,852,450
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		40,957,450
Accumulated Depreciation		(16,944,551)
Investment in Real Estate Net		24,012,899
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		4,823,697
Gross Amount Carried at close of period 12/31/2015, Land		2,490,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		22,345,811
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		24,835,811
Accumulated Depreciation		(12,642,142)
Investment in Real Estate Net		12,193,669
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		787,359
Gross Amount Carried at close of period 12/31/2015, Land		2,800,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		14,042,482
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		16,842,482
Accumulated Depreciation		(5,598,815)
Investment in Real Estate Net		11,243,667
Encumbrances		$ 0
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		2,934,091
Gross Amount Carried at close of period 12/31/2015, Land		5,460,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		18,655,661
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		24,115,661
Accumulated Depreciation		(10,612,838)
Investment in Real Estate Net		13,502,823
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		627,934
Gross Amount Carried at close of period 12/31/2015, Land		4,400,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		13,595,936
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		17,995,936
Accumulated Depreciation		(5,287,150)
Investment in Real Estate Net		12,708,786
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		542,226
Gross Amount Carried at close of period 12/31/2015, Land		8,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		44,850,428
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		53,450,428
Accumulated Depreciation		(7,114,728)
Investment in Real Estate Net		46,335,700
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		5,892,178
Gross Amount Carried at close of period 12/31/2015, Land		5,055,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		44,280,850
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		49,335,850
Accumulated Depreciation		(18,496,598)
Investment in Real Estate Net		30,839,252
Encumbrances		$ 0
Investment in Real Estate - Partially Owned Unencumbered [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Units		1,661
Initial Cost to Company, Land		$ 40,576,248
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		190,854,337
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		30,715,787
Gross Amount Carried at close of period 12/31/2015, Land		40,576,248
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		221,570,124
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		262,146,372
Accumulated Depreciation		(96,031,075)
Investment in Real Estate Net		166,115,297
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		4,683,238
Gross Amount Carried at close of period 12/31/2015, Land		4,507,100
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		17,258,052
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		21,765,152
Accumulated Depreciation		(11,286,126)
Investment in Real Estate Net		10,479,026
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		6,531,309
Gross Amount Carried at close of period 12/31/2015, Land		5,425,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,343,430
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		30,768,430
Accumulated Depreciation		(13,863,495)
Investment in Real Estate Net		16,904,935
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		4,610,519
Gross Amount Carried at close of period 12/31/2015, Land		7,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		40,454,864
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		48,054,864
Accumulated Depreciation		(5,597,458)
Investment in Real Estate Net		$ 42,457,406
Real Estate And Accumulated Depreciation, Encumbrances Reference	[1]	(K)
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		2,399,270
Gross Amount Carried at close of period 12/31/2015, Land		1,650,237
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		21,992,393
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		23,642,630
Accumulated Depreciation		(13,781,305)
Investment in Real Estate Net		9,861,325
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		5,882,314
Gross Amount Carried at close of period 12/31/2015, Land		6,945,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		28,947,290
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		35,892,290
Accumulated Depreciation		(14,983,809)
Investment in Real Estate Net		20,908,481
Encumbrances		$ 36,455,000
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		4,890,277
Gross Amount Carried at close of period 12/31/2015, Land		5,345,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,280,895
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		30,625,895
Accumulated Depreciation		(13,022,386)
Investment in Real Estate Net		17,603,509
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		4,365,840
Gross Amount Carried at close of period 12/31/2015, Land		4,550,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		22,430,604
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		26,980,604
Accumulated Depreciation		(11,706,487)
Investment in Real Estate Net		15,274,117
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		2,498,023
Gross Amount Carried at close of period 12/31/2015, Land		3,057,100
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		10,346,641
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		13,403,741
Accumulated Depreciation		(6,441,879)
Investment in Real Estate Net		6,961,862
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		2,643,870
Gross Amount Carried at close of period 12/31/2015, Land		5,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		17,860,483
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		23,360,483
Accumulated Depreciation		(7,233,630)
Investment in Real Estate Net		16,126,853
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		844,523
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		172,933,878
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		172,933,878
Accumulated Depreciation		(22,749,424)
Investment in Real Estate Net		150,184,454
Encumbrances		145,538,053
Portfolio Entity Encumbrances [Member]
Real Estates And Accumulated Depreciation Abstract
Encumbrances		$ 2,112,400,525
Investment in Real Estate - Partially Owned Encumbered [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Units		2,110
Initial Cost to Company, Land		$ 44,579,437
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		343,499,347
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		39,349,183
Gross Amount Carried at close of period 12/31/2015, Land		44,579,437
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		382,848,530
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		427,427,967
Accumulated Depreciation		(120,665,999)
Investment in Real Estate Net		306,761,968
Encumbrances		$ 343,428,578
Total Consolidated Investment in Real Estate [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Units		79,970
Initial Cost to Company, Land		$ 6,269,047,529
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		17,690,868,530
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		1,222,435,520
Gross Amount Carried at close of period 12/31/2015, Land		6,269,047,529
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		18,913,304,050
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		25,182,351,579
Accumulated Depreciation		(4,905,406,012)
Investment in Real Estate Net		20,276,945,567
Encumbrances		$ 4,563,885,164
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		7,170,917
Gross Amount Carried at close of period 12/31/2015, Land		2,594,264
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		40,213,314
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		42,807,578
Accumulated Depreciation		(26,113,974)
Investment in Real Estate Net		16,693,604
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		4,998,907
Gross Amount Carried at close of period 12/31/2015, Land		5,481,556
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		56,657,648
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		62,139,204
Accumulated Depreciation		(23,327,439)
Investment in Real Estate Net		38,811,765
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		1,295,675
Gross Amount Carried at close of period 12/31/2015, Land		5,686,861
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		27,366,215
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		33,053,076
Accumulated Depreciation		(11,731,682)
Investment in Real Estate Net		21,321,394
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		2,816,110
Gross Amount Carried at close of period 12/31/2015, Land		3,600,400
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		13,027,269
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		16,627,669
Accumulated Depreciation		(7,756,394)
Investment in Real Estate Net		8,871,275
Encumbrances		$ 0
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		15,962,268
Gross Amount Carried at close of period 12/31/2015, Land		2,781,300
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		48,904,799
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		51,686,099
Accumulated Depreciation		(35,090,051)
Investment in Real Estate Net		16,596,048
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		6,013,381
Gross Amount Carried at close of period 12/31/2015, Land		4,803,100
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		40,908,279
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		45,711,379
Accumulated Depreciation		(25,673,488)
Investment in Real Estate Net		20,037,891
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		4,535,698
Gross Amount Carried at close of period 12/31/2015, Land		3,001,700
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		22,214,626
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		25,216,326
Accumulated Depreciation		(13,648,954)
Investment in Real Estate Net		11,567,372
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		841,854
Gross Amount Carried at close of period 12/31/2015, Land		5,790,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		29,657,461
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		35,447,461
Accumulated Depreciation		(11,304,894)
Investment in Real Estate Net		24,142,567
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		1,889,129
Gross Amount Carried at close of period 12/31/2015, Land		1,442,212
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		18,140,243
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		19,582,455
Accumulated Depreciation		(10,551,851)
Investment in Real Estate Net		9,030,604
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		5,894,856
Gross Amount Carried at close of period 12/31/2015, Land		12,600,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		37,364,507
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		49,964,507
Accumulated Depreciation		(16,614,767)
Investment in Real Estate Net		33,349,740
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 12/31/2015, 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		(15,535,094)
Investment in Real Estate Net		37,139,625
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		2,604,325
Gross Amount Carried at close of period 12/31/2015, Land		1,609,800
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		13,437,079
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		15,046,879
Accumulated Depreciation		(8,898,931)
Investment in Real Estate Net		6,147,948
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		4,574,232
Gross Amount Carried at close of period 12/31/2015, Land		4,742,200
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		24,847,124
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		29,589,324
Accumulated Depreciation		(16,204,547)
Investment in Real Estate Net		13,384,777
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		2,148,558
Gross Amount Carried at close of period 12/31/2015, Land		15,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		35,343,134
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		50,343,134
Accumulated Depreciation		(14,572,103)
Investment in Real Estate Net		35,771,031
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		5,738,870
Gross Amount Carried at close of period 12/31/2015, Land		5,560,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,678,194
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		31,238,194
Accumulated Depreciation		(12,419,692)
Investment in Real Estate Net		18,818,502
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		3,230,043
Gross Amount Carried at close of period 12/31/2015, Land		7,560,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		54,486,581
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		62,046,581
Accumulated Depreciation		(21,626,401)
Investment in Real Estate Net		40,420,180
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		2,718,719
Gross Amount Carried at close of period 12/31/2015, Land		20,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		67,509,569
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		87,509,569
Accumulated Depreciation		(26,657,478)
Investment in Real Estate Net		60,852,091
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		7,472,911
Gross Amount Carried at close of period 12/31/2015, Land		0
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		52,073,911
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		52,073,911
Accumulated Depreciation		(22,657,292)
Investment in Real Estate Net		29,416,619
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		7,166,800
Gross Amount Carried at close of period 12/31/2015, Land		1,896,600
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		24,237,595
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		26,134,195
Accumulated Depreciation		(15,313,088)
Investment in Real Estate Net		10,821,107
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		8,683,372
Gross Amount Carried at close of period 12/31/2015, Land		2,228,200
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		28,739,642
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		30,967,842
Accumulated Depreciation		(18,755,567)
Investment in Real Estate Net		12,212,275
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		1,718,594
Gross Amount Carried at close of period 12/31/2015, Land		19,845,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		75,054,510
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		94,899,510
Accumulated Depreciation		(25,022,239)
Investment in Real Estate Net		69,877,271
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		4,824,526
Gross Amount Carried at close of period 12/31/2015, Land		4,365,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		43,196,966
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		47,561,966
Accumulated Depreciation		(14,493,439)
Investment in Real Estate Net		33,068,527
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		3,827,653
Gross Amount Carried at close of period 12/31/2015, Land		3,990,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		39,674,361
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		43,664,361
Accumulated Depreciation		(13,920,511)
Investment in Real Estate Net		29,743,850
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		6,386,783
Gross Amount Carried at close of period 12/31/2015, Land		319,180
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		18,900,250
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		19,219,430
Accumulated Depreciation		(13,303,869)
Investment in Real Estate Net		5,915,561
Encumbrances		$ 0
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		3,960,441
Gross Amount Carried at close of period 12/31/2015, Land		9,245,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		30,978,190
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		40,223,190
Accumulated Depreciation		(10,665,598)
Investment in Real Estate Net		29,557,592
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		5,651,504
Gross Amount Carried at close of period 12/31/2015, Land		1,597,500
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		20,019,368
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		21,616,868
Accumulated Depreciation		(14,833,511)
Investment in Real Estate Net		6,783,357
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		7,396,307
Gross Amount Carried at close of period 12/31/2015, Land		19,200,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		55,775,893
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		74,975,893
Accumulated Depreciation		(21,996,506)
Investment in Real Estate Net		52,979,387
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		5,536,019
Gross Amount Carried at close of period 12/31/2015, Land		17,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		29,997,008
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		47,897,008
Accumulated Depreciation		(14,056,557)
Investment in Real Estate Net		33,840,451
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		2,837,915
Gross Amount Carried at close of period 12/31/2015, Land		6,330,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		40,394,928
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		46,724,928
Accumulated Depreciation		(16,768,231)
Investment in Real Estate Net		29,956,697
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		3,578,245
Gross Amount Carried at close of period 12/31/2015, Land		6,888,500
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,182,829
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		32,071,329
Accumulated Depreciation		(16,010,773)
Investment in Real Estate Net		16,060,556
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		3,314,595
Gross Amount Carried at close of period 12/31/2015, Land		3,200,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		12,930,859
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		16,130,859
Accumulated Depreciation		(5,125,452)
Investment in Real Estate Net		11,005,407
Encumbrances		$ 0
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		248
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		1,836,209
Gross Amount Carried at close of period 12/31/2015, Land		10,129,900
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		60,606,309
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		70,736,209
Accumulated Depreciation		(13,083,451)
Investment in Real Estate Net		57,652,758
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		2,701,577
Gross Amount Carried at close of period 12/31/2015, Land		17,200,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		54,188,812
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		71,388,812
Accumulated Depreciation		(20,915,774)
Investment in Real Estate Net		50,473,038
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		733,047
Gross Amount Carried at close of period 12/31/2015, Land		4,120,800
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		43,210,344
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		47,331,144
Accumulated Depreciation		(12,991,703)
Investment in Real Estate Net		34,339,441
Encumbrances		$ 0
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		4,122,060
Gross Amount Carried at close of period 12/31/2015, Land		15,800,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		50,264,955
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		66,064,955
Accumulated Depreciation		(18,729,270)
Investment in Real Estate Net		47,335,685
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		10,395,369
Gross Amount Carried at close of period 12/31/2015, Land		15,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		33,537,671
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		48,537,671
Accumulated Depreciation		(17,973,600)
Investment in Real Estate Net		30,564,071
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		7,759,098
Gross Amount Carried at close of period 12/31/2015, Land		10,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		20,914,620
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		30,914,620
Accumulated Depreciation		(11,568,469)
Investment in Real Estate Net		19,346,151
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		4,074,265
Gross Amount Carried at close of period 12/31/2015, Land		20,240,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		24,226,881
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		44,466,881
Accumulated Depreciation		(10,342,378)
Investment in Real Estate Net		34,124,503
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		1,433,675
Gross Amount Carried at close of period 12/31/2015, Land		5,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		26,584,441
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		32,484,441
Accumulated Depreciation		(4,654,230)
Investment in Real Estate Net		27,830,211
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		18,144,955
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		20,701
Gross Amount Carried at close of period 12/31/2015, Land		3,840,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		18,165,656
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		22,005,656
Accumulated Depreciation		(1,983,415)
Investment in Real Estate Net		20,022,241
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		1,713,611
Gross Amount Carried at close of period 12/31/2015, Land		480,600
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		6,085,644
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		6,566,244
Accumulated Depreciation		(4,401,110)
Investment in Real Estate Net		2,165,134
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		5,925,125
Gross Amount Carried at close of period 12/31/2015, Land		38,400,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		111,618,557
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		150,018,557
Accumulated Depreciation		(42,732,227)
Investment in Real Estate Net		107,286,330
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		40,908,756
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		30,706
Gross Amount Carried at close of period 12/31/2015, Land		8,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		40,939,462
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		48,939,462
Accumulated Depreciation		(3,974,911)
Investment in Real Estate Net		44,964,551
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		1,581,233
Gross Amount Carried at close of period 12/31/2015, Land		15,420,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		37,645,862
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		53,065,862
Accumulated Depreciation		(15,394,768)
Investment in Real Estate Net		37,671,094
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		3,516,386
Gross Amount Carried at close of period 12/31/2015, Land		8,330,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		32,184,004
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		40,514,004
Accumulated Depreciation		(17,050,355)
Investment in Real Estate Net		23,463,649
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		11,825,179
Gross Amount Carried at close of period 12/31/2015, Land		13,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		71,836,387
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		85,336,387
Accumulated Depreciation		(30,159,581)
Investment in Real Estate Net		55,176,806
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		7,204,516
Gross Amount Carried at close of period 12/31/2015, Land		13,320,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		37,558,264
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		50,878,264
Accumulated Depreciation		(19,909,831)
Investment in Real Estate Net		30,968,433
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		5,473,840
Gross Amount Carried at close of period 12/31/2015, Land		6,640,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		32,217,600
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		38,857,600
Accumulated Depreciation		(17,398,951)
Investment in Real Estate Net		21,458,649
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		2,428,548
Gross Amount Carried at close of period 12/31/2015, Land		27,383,547
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		102,084,988
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		129,468,535
Accumulated Depreciation		(21,124,597)
Investment in Real Estate Net		108,343,938
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		7,187,407
Gross Amount Carried at close of period 12/31/2015, Land		3,520,400
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		30,519,901
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		34,040,301
Accumulated Depreciation		(19,863,102)
Investment in Real Estate Net		14,177,199
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		2,505,813
Gross Amount Carried at close of period 12/31/2015, Land		5,783,545
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		41,840,268
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		47,623,813
Accumulated Depreciation		(10,722,402)
Investment in Real Estate Net		36,901,411
Encumbrances		$ 0
Reunion at 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		433,219
Gross Amount Carried at close of period 12/31/2015, Land		6,975,705
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		46,608,220
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		53,583,925
Accumulated Depreciation		(12,707,487)
Investment in Real Estate Net		40,876,438
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		7,530,196
Gross Amount Carried at close of period 12/31/2015, Land		1,951,600
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,100,704
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		27,052,304
Accumulated Depreciation		(16,637,960)
Investment in Real Estate Net		10,414,344
Encumbrances		$ 0
Sage [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		765,735
Gross Amount Carried at close of period 12/31/2015, Land		2,500,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		12,786,991
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		15,286,991
Accumulated Depreciation		(5,027,121)
Investment in Real Estate Net		10,259,870
Encumbrances		$ 0
Savoy at Dayton Station Combined [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Description Of Location		Aurora, CO
Real Estate And Accumulated Depreciation Units		612
Initial Cost to Company, Land		$ 6,109,460
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		60,039,972
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		3,773,037
Gross Amount Carried at close of period 12/31/2015, Land		6,109,460
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		63,813,009
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		69,922,469
Accumulated Depreciation		(22,049,623)
Investment in Real Estate Net		47,872,846
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		3,166,139
Gross Amount Carried at close of period 12/31/2015, Land		1,815,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		10,774,265
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		12,589,265
Accumulated Depreciation		(6,919,778)
Investment in Real Estate Net		5,669,487
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		2,068,143
Gross Amount Carried at close of period 12/31/2015, Land		12,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,238,723
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		37,238,723
Accumulated Depreciation		(10,173,850)
Investment in Real Estate Net		27,064,873
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		17,913,370
Gross Amount Carried at close of period 12/31/2015, Land		18,313,414
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		65,004,964
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		83,318,378
Accumulated Depreciation		(35,303,699)
Investment in Real Estate Net		48,014,679
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		5,781,847
Gross Amount Carried at close of period 12/31/2015, Land		5,680,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		25,593,937
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		31,273,937
Accumulated Depreciation		(12,410,235)
Investment in Real Estate Net		18,863,702
Encumbrances		$ 0
Stonegate C O [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		3,317,249
Gross Amount Carried at close of period 12/31/2015, Land		8,750,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		36,267,624
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		45,017,624
Accumulated Depreciation		(14,957,918)
Investment in Real Estate Net		30,059,706
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		5,983,533
Gross Amount Carried at close of period 12/31/2015, Land		4,519,700
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		46,659,923
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		51,179,623
Accumulated Depreciation		(29,814,286)
Investment in Real Estate Net		21,365,337
Encumbrances		$ 0
Waterford Place C O [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		2,288,680
Gross Amount Carried at close of period 12/31/2015, Land		5,040,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		32,235,099
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		37,275,099
Accumulated Depreciation		(14,679,394)
Investment in Real Estate Net		22,595,705
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		6,103,581
Gross Amount Carried at close of period 12/31/2015, Land		3,648,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		23,724,460
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		27,372,460
Accumulated Depreciation		(14,461,774)
Investment in Real Estate Net		12,910,686
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		674,086
Gross Amount Carried at close of period 12/31/2015, Land		11,900,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		90,286,551
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		102,186,551
Accumulated Depreciation		(11,937,856)
Investment in Real Estate Net		90,248,695
Encumbrances		$ 0
Winston F L [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		3,675,757
Gross Amount Carried at close of period 12/31/2015, Land		18,561,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		53,203,326
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		71,764,326
Accumulated Depreciation		(19,941,539)
Investment in Real Estate Net		51,822,787
Encumbrances		$ 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		6,286,086
Gross Amount Carried at close of period 12/31/2015, Land		6,631,400
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		23,021,570
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		29,652,970
Accumulated Depreciation		(12,784,626)
Investment in Real Estate Net		16,868,344
Encumbrances		$ 0
Real Estate Held For Sale - Wholly Owned Unencumbered [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Units		21,494
Initial Cost to Company, Land		$ 571,462,444
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		2,250,318,833
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		297,018,230
Gross Amount Carried at close of period 12/31/2015, Land		571,462,444
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		2,547,337,063
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		3,118,799,507
Accumulated Depreciation		(1,075,431,644)
Investment in Real Estate Net		2,043,367,863
Encumbrances		$ 0
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		11,819,156
Gross Amount Carried at close of period 12/31/2015, Land		4,928,500
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		56,441,470
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		61,369,970
Accumulated Depreciation		(36,125,982)
Investment in Real Estate Net		25,243,988
Encumbrances		$ 19,195,000
Oak Mill Two [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		6,696,831
Gross Amount Carried at close of period 12/31/2015, Land		854,133
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		16,930,778
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		17,784,911
Accumulated Depreciation		(12,269,574)
Investment in Real Estate Net		5,515,337
Encumbrances		$ 9,600,000
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		5,964,620
Gross Amount Carried at close of period 12/31/2015, Land		8,000,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		30,111,711
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		38,111,711
Accumulated Depreciation		(14,096,604)
Investment in Real Estate Net		24,015,107
Encumbrances		$ 13,000,000
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		6,090,227
Gross Amount Carried at close of period 12/31/2015, Land		17,492,000
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		106,786,768
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		124,278,768
Accumulated Depreciation		(41,286,496)
Investment in Real Estate Net		82,992,272
Encumbrances		$ 99,190,116
Real Estate Held For Sale - Wholly Owned Encumbered [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Units		1,768
Initial Cost to Company, Land		$ 31,274,633
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		179,699,893
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		30,570,834
Gross Amount Carried at close of period 12/31/2015, Land		31,274,633
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		210,270,727
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		241,545,360
Accumulated Depreciation		(103,778,656)
Investment in Real Estate Net		137,766,704
Encumbrances		$ 140,985,116
Total Real Estate Held For Sale [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Units		23,262
Initial Cost to Company, Land		$ 602,737,077
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		2,430,018,726
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		327,589,064
Gross Amount Carried at close of period 12/31/2015, Land		602,737,077
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		2,757,607,790
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		3,360,344,867
Accumulated Depreciation		(1,179,210,300)
Investment in Real Estate Net		2,181,134,567
Encumbrances		$ 140,985,116
Total Investment in Real Estate and Real Estate Held For Sale [Member]
Real Estates And Accumulated Depreciation Abstract
Real Estate And Accumulated Depreciation Units		103,232
Initial Cost to Company, Land		$ 6,871,784,606
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		20,120,887,256
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Fixtures		1,550,024,584
Gross Amount Carried at close of period 12/31/2015, Land		6,871,784,606
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements And Furnitures And Fixtures		21,670,911,840
Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements And Furnitures And Fixtures		28,542,696,446
Accumulated Depreciation		(6,084,616,312)
Investment in Real Estate Net		22,458,080,134
Encumbrances		$ 4,704,870,280
Unconsolidated Properties [Member]
Real Estates And Accumulated Depreciation Abstract
Partially Owned Properties		3
Number of Units in Real Estate Property		1,281
Number Of Unconsolidated Projects		2
Depreciable Property [Member]
Real Estate and Accumulated Depreciation [Line Items]
Furniture, fixtures and equipment		$ 1,542,662,923
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
Wholly Owned Encumbered [Member] | Portfolio Entity Encumbrances [Member]
Real Estates And Accumulated Depreciation Abstract
Encumbrances		$ 2,088,177,000
Wholly Owned Encumbered [Member] | Total Consolidated Investment in Real Estate [Member]
Real Estates And Accumulated Depreciation Abstract
Encumbrances		4,220,456,586
Wholly Owned Encumbered [Member] | Total Investment in Real Estate and Real Estate Held For Sale [Member]
Real Estates And Accumulated Depreciation Abstract
Encumbrances		4,361,441,702
Partially Owned Encumbered [Member] | Portfolio Entity Encumbrances [Member]
Real Estates And Accumulated Depreciation Abstract
Encumbrances		24,223,525
Partially Owned Encumbered [Member] | Total Consolidated Investment in Real Estate [Member]
Real Estates And Accumulated Depreciation Abstract
Encumbrances		343,428,578
Partially Owned Encumbered [Member] | Total Investment in Real Estate and Real Estate Held For Sale [Member]
Real Estates And Accumulated Depreciation Abstract
Encumbrances		$ 343,428,578
[1]	(I)through (L) See Encumbrances Reconciliation schedule.