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. |